717 resultados para China, Capital structure, Dynamic panel data models, Listed property company


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This work aims to investigate the relationship between the entrepreneurship and the incidence of bureaucratic corruption in the states of Brazil and Federal District. The main hypothesis of this study is that the opening of a business in Brazilian states is negatively affected by the incidence of corruption. The theoretical reference is divided into Entrepreneurship and bureaucratic corruption, with an emphasis on materialistic perspective (objectivist) of entrepreneurship and the effects of bureaucratic corruption on entrepreneurial activity. By the regression method with panel data, we estimated the models with pooled data and fixed and random effects. To measure corruption, I used the General Index of Corruption for the Brazilian states (BOLL, 2010), and to represent entrepreneurship, firm entry per capita by state. Tests (Chow, Hausman and Breusch-Pagan) indicate that the random effects model is more appropriate, and the preliminary results indicate a positive impact of bureaucratic corruption on entrepreneurial activity, contradicting the hypothesis expected and found in previous articles to Brazil, and corroborating the proposition of Dreher and Gassebner (2011) that, in countries with high regulation, bureaucratic corruption can be grease in the wheels of entrepreneurship

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The Brazilian tax structure has specific characteristics and the performance level of government. The autonomy given to municipalities to manage their activities after the 1988 Constitution, made them highly dependent on intergovernmental transfers of resources, revealing the fragility of the administrative capacity of these entities. The vertical gap revealed by the constitutional structure of the Brazilian fiscal federalism model contributes to the formation of this specific feature that you are eroding the tax base and the ability of municipal own revenues. Although there was a better regulation of these transfers after the enactment of the Fiscal Responsibility Law, it is observed that the amount of resources transferred to the municipalities of Rio Grande do Norte is very high and is the main source of revenue of municipalities. In light of the theory of federalism and fiscal decentralization, in particular, the theories related to intergovernmental transfers, we seek to diagnose the transfers from the systematization of information on the origin, destination and value. We used the econometric model of System Dynamic Panel GMM in making the diagnosis and verification of the impact of transfers on public finances of the municipalities of the newborn, associated with a review in light of the theory of fiscal federalism and intergovernmental transfers. The paper presents some proposals for the transfer system and the composition of spending in order to contribute to greater tax efficiency

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Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

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The objective of this study was to estimate (co)variance components using random regression on B-spline functions to weight records obtained from birth to adulthood. A total of 82 064 weight records of 8145 females obtained from the data bank of the Nellore Breeding Program (PMGRN/Nellore Brazil) which started in 1987, were used. The models included direct additive and maternal genetic effects and animal and maternal permanent environmental effects as random. Contemporary group and dam age at calving (linear and quadratic effect) were included as fixed effects, and orthogonal Legendre polynomials of age (cubic regression) were considered as random covariate. The random effects were modeled using B-spline functions considering linear, quadratic and cubic polynomials for each individual segment. Residual variances were grouped in five age classes. Direct additive genetic and animal permanent environmental effects were modeled using up to seven knots (six segments). A single segment with two knots at the end points of the curve was used for the estimation of maternal genetic and maternal permanent environmental effects. A total of 15 models were studied, with the number of parameters ranging from 17 to 81. The models that used B-splines were compared with multi-trait analyses with nine weight traits and to a random regression model that used orthogonal Legendre polynomials. A model fitting quadratic B-splines, with four knots or three segments for direct additive genetic effect and animal permanent environmental effect and two knots for maternal additive genetic effect and maternal permanent environmental effect, was the most appropriate and parsimonious model to describe the covariance structure of the data. Selection for higher weight, such as at young ages, should be performed taking into account an increase in mature cow weight. Particularly, this is important in most of Nellore beef cattle production systems, where the cow herd is maintained on range conditions. There is limited modification of the growth curve of Nellore cattle with respect to the aim of selecting them for rapid growth at young ages while maintaining constant adult weight.

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Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

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Thin films of barium and strontium titanate (BST), synthesized by the polymeric precursor solution and spin coated on [Pt (140nm)/Ti (10 nM)/SiO2(1000 nm)/Si] substrates were found to be photoluminescent at room temperature when heat treated below 973 K, i.e. before their crystallization. First principles quantum mechanical techniques, based on density functional theory (DFT) were employed to study the electronic structure of two periodic models: one is standing for the crystalline BST thin film and the other one for the structurally disordered thin film. The aim is to compare the photoluminescence (PL) spectra of the crystalline and disordered thin films with their UV-vis spectra and with their computed electronic structures. The calculations show that new localized states are created inside the band gap of the crystalline model, as predicted by the UV-vis spectra. The study of the charge repartition in the structure before and after deformation of the periodic model shows that a charge gradient appears among the titanate clusters. This charge gradient, together with the new localized levels, gives favorable conditions for the trapping of holes and electrons in the structure, and thus to a radiative recombination process. Our models are not only consistent with the experimental data, they also allow to explain the relations between structural disorder and photoluminescence at room temperature. (c) 2005 Elsevier Ltd. All rights reserved.

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The nylon bag in situ degradation thecnique was employed to study the ruminai degradability of the neutral detergent fiber and neutral detergent insoluble nitrogen of the corn silage and soybean meal in four rumen fistulated Nellore steers, averaging 36 months of age and 520 kg of liveweight. A randomized completelcs block experimental design was used, where the animals constituted the blocks. It was used diets with two levels of concentrate: 20 and 40%.The forage used in the diets was corn silage, and the concentrate ingredients were: soybean meal, cottonseed meal, corn grain and sorghum grain. The NIDN degradation rate of the corn silage and the soybean meal showed a decrease of 32,1% and of 46,0 % as a function of the higher concentrate level of the diet, but the effective and potential degradability of this fraction were not affected. Concerning to the NDF, the soluble fraction, potentially degradable and undegrable , were not affected by the increase on the diet concentrate level, but for the corn silage, there were 21,8% of reduction on the effective degradability of NDF. The use of lag time promoted higher degradability values for the studied fraction. The obtained values for some evaluated parameters, different from that assumed by CNCPS, showed the necessity of more data about brazilian used feeds, for model adjustments.

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Eriocaulaceae is a pantropical family that comprises about 1100 species distributed in 11 genera. The infrafamilial relationships are still unsatisfactorily resolved, because of the tiny flowers and generalized morphology, which makes the taxonomy very difficult. Flavonoid and naphthopyranone profiles have proved to be important in order to contribute to the alignment of genera into the family. We here present a survey of the chemical data of Eriocaulaceae with a discussion about their contribution to the taxonomy of Eriocaulaceae. © 2008 Verlag der Zeitschrift für Naturforschung.

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The ABE (acetone, butanol, ethanol) fermentation is characterized by its low productivity. In this paper, this issue is overcome with an innovative industrial process that employs the flash fermentation technology. The process consists of three interconnected units, as follows: fermentor, cell retention system (tangential microfiltration) and vacuum flash vessel (responsible for the continuous recovery of butanol from the broth). The dynamic behaviour of the process is described by a nonlinear mathematical model with kinetic parameters determined experimentally. From simulations of the mathematical model the dynamic characteristics of the process were investigated. Analyzes of the open-loop dynamic behavior of the process, after step perturbations in the manipulated variables, determined the best control structures for the process. Copyright © 2010, AIDIC Servizi S.r.l.

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Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

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We examine the problem of combining Mexican inflation predictions or projections provided by a biweekly survey of professional forecasters. Consumer price inflation in Mexico is measured twice a month. We consider several combining methods and advocate the use of dimension reduction techniques whose performance is compared with different benchmark methods, including the simplest average prediction. Missing values in the database are imputed by two different databased methods. The results obtained are basically robust to the choice of the imputation method. A preliminary analysis of the data was based on its panel data structure and showed the potential usefulness of using dimension reduction techniques to combine the experts' predictions. The main findings are: the first monthly predictions are best combined by way of the first principal component of the predictions available; the best second monthly prediction is obtained by calculating the median prediction and is more accurate than the first one.