Análise experimental do efeito da diversificação em carteiras de ações: a relação entre risco e quantidade de ativos sob a ótica da estratégia ingênua

The objective is to analyze the relationship between risk and number of stocks of a portfolio for an individual investor when stocks are chosen by "naive strategy". For this, we carried out an experiment in which individuals select actions to reproduce this relationship. 126 participants were informed that the risk of first choice would be an asset average of all standard deviations of the portfolios consist of a single asset, and the same procedure should be used for portfolios composed of two, three and so on, up to 30 actions . They selected the assets they want in their portfolios without the support of a financial analysis. For comparison we also tested a hypothetical simulation of 126 investors who selected shares the same universe, through a random number generator. Thus, each real participant is compensated for random hypothetical investor facing the same opportunity. Patterns were observed in the portfolios of individual participants, characterizing the curves for the components of the samples. Because these groupings are somewhat arbitrary, it was used a more objective measure of behavior: a simple linear regression for each participant, in order to predict the variance of the portfolio depending on the number of assets. In addition, we conducted a pooled regression on all observations by analyzing cross-section. The result of pattern occurs on average but not for most individuals, many of which effectively "de-diversify" when adding seemingly random bonds. Furthermore, the results are slightly worse using a random number generator. This finding challenges the belief that only a small number of titles is necessary for diversification and shows that there is only applicable to a large sample. The implications are important since many individual investors holding few stocks in their portfolios

Burocracia e comércio exterior: os desafios à exportação sob a ótica das micro e pequenas empresas exportadoras do Rio Grande do Norte

As micro e pequenas empresas, ao mesmo tempo em que exercem um papel extremamente relevante na estrutura produtiva da economia brasileira pelo grande número de empreendedores existentes e expressivo volume de pessoal ocupado, perdem competitividade ao se deparar com entraves ao seu desenvolvimento, sejam eles em âmbito gerencial, financeiro, burocrático ou estrutural. Com base nesse contexto, o estudo procura identificar em que medida, na percepção das MPEs exportadoras do Rio Grande do Norte, as exigências burocráticas do processo exportador afetam o seu desempenho no comércio exterior. Como exigências burocráticas compreende-se o conjunto de normas, regras e procedimentos e documentos que disciplinam o processo exportador, enquanto desempenho é entendido como os resultados da atividade econômica medido através do crescimento das vendas para o mercado externo; das demandas de produtos exportados não atendidas e da ampliação do mercado internacional. A pesquisa realizada é de caráter censitário, desenvolvida junto a quatorze MPEs do estado, atuantes regularmente no comércio exterior nos últimos três anos (2009-2011), utilizando aplicação de questionário, assim como uma consulta a dados secundários disponíveis. A análise dos dados levantados revelou que, efetivamente, na percepção dos respondentes, fatores externos como o custo do processo de exportação, falta de incentivo do governo, excesso de controle dos órgãos públicos e a infraestrutura logística do estado exercem influência na pequena participação das MPEs nas exportações do Brasil e do Nordeste, enquanto o bom desempenho exportador destas relaciona-se a fatores gerenciais, com destaque para investimentos na estrutura organizacional da empresa, conhecimento do mercado internacional e bom relacionamento com clientes e mercados

Trabalho e família: um estudo da interação de papéis com secretários executivos

The balance between the demands of two important spheres of human life, work and family, has become a challenge due to the pressures of the contemporary that is expanding around the difficulties of reconciling these two comínios. In this sense, this research aimed to understand the work-family interaction in the perception of executive secretaries. The analysis approach used was qualitative research, by worrying about a reality that can not be quantified due to the subjectivity of his goal. The data collection technique used was the semistructured interview to twenty executive secretaries, servants of a Federal Institution of Higher Education. For the understanding and interpretation of the data, we used the technique of content analysis. The results of both analyzes identified the existence of conflict as enrichment in this interaction. The time was identified as the largest generator of conflict work. The overload, relationship stress and conflict emerged as elements common to both domains. As main implications of labor disputes, were revealed: problamas health for secretaries and stress. As main implications of family conflicts emerged: motivation for work, lower performance and lack of concentration. The attempt at balance was identified as the strategy most used by secretaries to minimize work-family conflict. The work-family enrichment was seen as resources that contribute to improving the lives of the secretary in both domains. The opportunity to add knowledge was highlighted as enriching element of work and family values ​​as elements enriching family. The support and experience emerged as enrichment items common to both domains. Regarding the implications of enrichment resulting from the interaction of work and family, the more perceived by respondents were: increased knowledge and skills, material and psychological benefits, improved quality of life and personal and professional fulfillment. From the perception of executive secretaries, work and family spheres of human life are essential and complementary, and that help is contrary, however, this relationship is the primary management of conflicts, ie, how the individual sees and manages the negative side of the work-family

Metodologias de serviços públicos de ATER: estudo em instituições do Rio Grande do Norte

Due to the appreciation of family farming by the Brazilian Federal Government, the Technical Assistance and Rural Extension was induced to restructure and act in a more participative way, culminating in the National Policy of Technical Assistance and Rural Extension (PNATER), changing the profile of technology transfer and knowledge (diffusionism) for an action that uses participatory methodologies focused on exchange of knowledge between farmers and technicians. The process of discussion of the trends of ATER brought the New ATER , with the recognition of agroecology as the main guidance. This research aimed to analyze methods of public ATER developed by institutions of Rio Grande do Norte, under the guidance of New ATER. The research is qualitative. Secondary data were collected through documental research and literature. Primary data were collected through a set of interviews applied to representatives of public institutions ATER, namely EMATER-RN, Diaconia and AACC and representatives of organizations that receive public ATER. The research showed the difficulties of EMATER-RN in implementing of New ATER due to lack of infrastructure and low adherence of the new form of technical assistance and rural extension. It was shown also that the AACC and Diaconia act with ATER through projects with implementation deadlines set, often interrupting ATER while communities are still in need of assistance

Relações de cooperação em consórcios públicos de regiões metropolitanas: análises do CONDIAM/PB e consórcio grande Recife

With the disorganized decentralization occurred in Brazil after the 1988 Constitution, municipalities have risen to the level of federal entities. This phenomenon became known as "municipalism" also brought some negative effects such as low capacity financial, economic and political of these entities. In the face of this reality , the municipalities sought in models of collaborative features to address public policy issues ultrarregionais, one of these models are the Public Consortia. Characterized as the organization of all federal entities that aim to solve public policy implementation alone that they could not, or spend great resources for such. This reality of the municipalities have an aggravating factor when looking at the situation in Metropolitan Regions (MRs). This is because the RMs has a historical process of formation that does not encourage cooperation, since that were created top-down during the military regime. Furthermore, the metropolitan municipalities have significant power asymmetries, localist vision, rigidity earmarked revenues, different scenarios conurbation, difficulty standardization of concepts and others that contribute to the vision of low cooperation of these metropolitan areas. Thus, the problem of this work is in the presence of collaborative arrangements, such as the Public Consortia in metropolitan areas, which are seen as areas of low cooperation. To elucidate this research was used for analysis the cases of CONDIAM/PB and Consórcio Grande Recife/PE, because they are apparently antagonistic, but with some points of similarity. The cases has as foundation the Theory of Common Resources, which provides the possibility of collective action through the initiative of individuals. This theory has as its methodology for analyzing the picture IAD Framework, which proposes its analysis based on three axes: external variables, the arena of action and results. The nature of the method of this research was classified as exploratory and descriptive. For the stage of date analysis, was used the method of document analysis and content, Further than of separation of the cases according to theur especificities. At the end of the study, noted that the CONDIAM/PB was a strategy of municipal government of Joao Pessoa to attract funds from the Federal Government for the purpose of to build a landfill, and over the years the ideology of cooperation was left aside, the prevailing view localist municipalities. In the case of Consórcio Grande Recife/PE, members act with some degree of cooperation, especially the collaborative aspect of the region, however, still prevails with greater strength the power of the state of Pernambuco in the decisions and paths of the consortium. Thus, was conclude that the Public Consortia analyzed are an experience of collaborative arrangement, from the initiative of members, as the theory of common resources says, but has not actually signed as a practice of collective action to overcome the dilemmas faced by metropolitan areas

Os programas de incentivo à cultura e o processo de fomento às organizações culturais no Rio Grande do Norte: o caso da Casa da Ribeira em Natal

Since the emergence of the first demands for actions that were intended to give greater attention to culture in Brazil, came the first discussions which concerned the way the Brazilian government could have a positive influence in encouraging the culture, as is its interaction with the actors interested and involved with the cause. During the military dictatorship, there were programs which relied on the direct participation of the State to ensure that right, from the viewpoint of its support and implementation of public resources in developing the "cultural product" to be brought to society in its various forms of expression - all this, funded by the government. It is an example of "EMBRAFILMES" and "Projeto Seis e Meia", continued until the present day in some regions of the country, though maintained by entities not directly connected with the administration or the government. However, it was from the period of democratization and the end of the dictatorship that the Brazilian government began to look at the different culture, under its guarantee to the society. Came the first incentive laws, led by "Lei Sarney" Nº 7.505/86, which was culture as a segment which could receive foreign assistance in order to assist the government in fulfilling its public duty. After Collor era and the end of the embargo through the encouragement of culture incentive laws, consolidated the incentive model proposed in advance of Culture "Lei Sarney" and the federal laws, state and local regimentares as close to this action. This applies to the Rouanet Law (Lei Rouanet), Câmara Cascudo Law (Lei Câmara Cascudo) and Djalma Maranhão Cultural Incentive Law (Lei de Incentivo à Cultura Djalma Maranhão), existing in Natal and Rio Grande do Norte. Since then, business entities could help groups and cultural organizations to keep their work from the political sponsorship under control and regiment through the Brazilian state in the form of their Cultural Incentive Law. This framework has contributed to the strengthening of NGOs and with the consolidation of these institutions as the linchpin of Republican guaranteeing the right to access to culture, but corporate social responsibility was the one who took off in the segment treated here, through the actions of Responsibility Cultural enterprises arising from the Cultural Organizations. Therefore, in the face of this discourse, this study ascertains the process of encouraging the Culture in Rio Grande do Norte from the Deviant Case Analysis at the Casa da Ribeira, the main Cultural Organization that operates, focused action in Natal in order to assess the relationships established between the same entity and the institutions which are entitled to maintain the process of encouraging treated in this study - Enterprise, from the viewpoint of corporate sponsorship and Cultural Responsibility and State in the form of the Laws Incentive Funds and Public Culture Incentive

O argumento de inclusão enquanto política de acesso à universidade pública

There are a great number of evidences showing that education is extremely important in many economic and social dimensions. In Brazil, education is a right guaranteed by the Federal Constitution; however, in the Brazilian legislation the right to the three stages of basic education: Kindergarten, Elementary and High School is better promoted and supported than the right to education at College level. According to educational census data (INEP, 2009), 78% of all enrolments in College education are in private schools, while the reverse is found in High School: 84% of all matriculations are in public schools, which shows a contradiction in the admission into the universities. The Brazilian scenario presents that public universities receive mostly students who performed better and were prepared in elementary and high school education in private schools, while private universities attend students who received their basic education in public schools, which are characterized as low quality. These facts have led researchers to raise the possible determinants of student performance on standardized tests, such as the Brazilian Vestibular exam, to guide the development of policies aimed at equal access to College education. Seeking inspiration in North American models of affirmative action policies, some Brazilian public universities have suggested rate policies to enable and facilitate the entry of "minorities" (blacks, pardos1, natives, people of low income and public school students) to free College education. At the Federal University of the state Rio Grande do Norte (UFRN), the first incentives for candidates from public schools emerged in 2006, being improved and widespread during the last 7 years. This study aimed to analyse and discuss the Argument of Inclution (AI) - the affirmative action policy that provides additional scoring for students from public schools. From an extensive database, the Ordinary Least Squares (OLS) technique was used as well as a Quantile Regression considering as control the variables of personal, socioeconomic and educational characteristics of the candidates from the Brazilian Vestibular exam 2010 of the Federal University of the state Rio Grande do Norte (UFRN). The results demonstrate the importance of this incentive system, besides the magnitude of other variables

Sistemas de gerenciamento de bibliotecas: riscos decorrentes do processo de migração de dados

This work aims to analyze risks related to information technology (IT) in procedures related to data migration. This is done considering ALEPH, Integrated Libray System (ILS) that migrated data to the Library Module present in the software called Sistema Integrado de Gestão de Atividades Acadêmicas (SIGAA) at the Zila Mamede Central Library at the Federal University of Rio Grande do Norte (UFRN) in Natal/Brazil. The methodological procedure used was of a qualitative exploratory research with the realization of case study at the referred library in order to better understand this phenomenon. Data collection was able once there was use of a semi-structured interview that was applied with (11) subjects that are employed at the library as well as in the Technology Superintendence at UFRN. In order to examine data Content analysis as well as thematic review process was performed. After data migration the results of the interview were then linked to both analysis units and their system register with category correspondence. The main risks detected were: data destruction; data loss; data bank communication failure; user response delay; data inconsistency and duplicity. These elements point out implication and generate disorders that affect external and internal system users and lead to stress, work duplicity and hassles. Thus, some measures were taken related to risk management such as adequate planning, central management support, and pilot test simulations. For the advantages it has reduced of: risk, occurrence of problems and possible unforeseen costs, and allows achieving organizational objectives, among other. It is inferred therefore that the risks present in data bank conversion in libraries exist and some are predictable, however, it is seen that librarians do not know or ignore and are not very worried in the identification risks in data bank conversion, their acknowledge would minimize or even extinguish them. Another important aspect to consider is the existence of few empirical research that deal specifically with this subject and thus presenting the new of new approaches in order to promote better understanding of the matter in the corporate environment of the information units

A Tecnologia da informação como fator de competitividade em um APL: o caso do APL da carcinicultura do RN

Este estudo aborda a utilização da tecnologia da informação de forma competitiva em um Arranjo Produtivo Local (APL). Realizou-se no APL da carcinicultura no Estado do Rio Grande do Norte e teve por objetivo buscar a compreensão de como o uso da tecnologia da informação (TI) contribui para o aumento da competitividade na atividade do APL citado. APL pode ser conceituado como uma aliança entre organizações que possuem um projeto coletivo, para elevar a sua competitividade e participação no mercado. Para atingir este objetivo, foi realizada uma pesquisa descritiva, através da utilização de múltiplos casos selecionados dentre as empresas que compõem o APL da carcinicultura no RN. Os dados coletados foram analisados qualitativamente. Os resultados da pesquisa indicaram que as empresas percebem a importância do uso da TI, mas que, na prática, a sua utilização é limitada, principalmente em se tratando de Sistemas Integrados de Gestão e Comércio Eletrônico. Outro resultado encontrado foi que as empresas, embora façam parte do APL, ainda não colaboram entre si, seja através da troca de informações, ou através de Sistemas de Informação Interorganizacional. As principais recomendações diante destes resultados é que as empresas atuem ativamente para o fortalecimento do APL. No que se refere ao uso da TI faz-se necessário que elas invistam na aquisição de sistemas integrados de gestão e sistemas de informação interorganizacional para o melhor gerenciamento das informações ao longo da cadeia

Estrutura de organizações sociais: adaptação aos projetos sociais ou às pressões institucionais?

This is a study concerning in the structure of non governmental organizations, based on the institutional theory. It aims to understand the relation among structure, social projects and environmental influences, analyzing if there is coherence with project social or expresses adaptation to the institutional pressures of the environment. It introduces as theoretical support for the themes, studies about institutional theory and social structure. The research is descriptive and exploratory; it also applies to a study of case, based on the technical procedures. From the research universe, that was compound by non governmental organizations from Natal, RN, Brasil, it was chosen the Casa Renascer, a non governmental organization that works with the combat to the violence and sexual exploration of children and teenagers. The data collection process employed includes documental research, observations and semi structured research devices, guided by the organizational process proposed by Serva (1996) and by the institutional theory. The collected data were qualitatively treated. The analysis was divided into three parts, following the research matters. The social project characterization demonstrated that the organization went by three main phases. The first one, characterized by focus in women and girls education and health; the second shows the emphasis on girls in social risk situation, with preventive approach; and the last one, characterized by victims assistance of violence and sexual exploration. From the analysis using the institutional theory mechanisms, the results showed that exists coherence between structure and environmental influences, but a weak coherence between structure and social projects. It indicates as main determinant of the structure, an aspect forgotten by the institutional theory, the power. It was observed the presence from normative, coercive and mimetic mechanisms, highlighting normative influences

A comunicação interna numa organização pública

The present study compose an analysis on the process of internal communication at a public organization, built on the survey data originary of administrative conduct, observation on the cultural model of the organization and how the interdepartmental and interpersonal relations shows up. The research, exploratory descriptive kind, had theoretical basis on two knowledge areas Administrative Science and Social Communication and was developed at Instituto do Desenvolvimento Econômico e Meio Ambiente IDEMA, in Rio Grande do Norte. During data collection, were conducted spontaneous and semi structured interviews with directors and coordinators, besides the application of directed questionnaire to functionaries in two unites of the institution. Through the analysis and interpretation of the data, we came to the conclusion that the process of internal communication at a public organization fall in with same challenges of private organizations, but with peculiarities that attracts the scientific look specially, in concern of the attitude assumed by the administrators in the conduction of communication functions inside the organization, the profile of social actor and the communication channels used. Although the organizational communication represents more and more a strategic function, as an administration tool, the point that research gets to shows that in public organizations the communication refrains from administrative purpose and with the major objective of giving publicity to the institutional acts and actions

A satisfação e a intenção de continuidade de uso em servços de e-learning:validação empírica de um modelo aplicado no serviço público

The present study aims to investigate the constructs of Technological Readiness Index (TRI) and the Expectancy Disconfirmation Theory (EDT) as determinants of satisfaction and continuance intention use in e-learning services. Is proposed a theoretical model that seeks to measure the phenomenon suited to the needs of public organizations that offer distance learning course with the use of virtual platforms for employees. The research was conducted from a quantitative analytical approach, via online survey in a sample of 343 employees of 2 public organizations in RN who have had e-learning experience. The strategy of data analysis used multivariate analysis techniques, including structural equation modeling (SEM), operationalized by AMOS© software. The results showed that quality, quality disconfirmation, value and value disconfirmation positively impact on satisfaction, as well as disconfirmation usability, innovativeness and optimism. Likewise, satisfaction proved to be decisive for the purpose of continuance intention use. In addition, technological readiness and performance are strongly related. Based on the structural model found by the study, public organizations can implement e-learning services for employees focusing on improving learning and improving skills practiced in the organizational environment

Análise de volatilidade, integração de preços e previsibilidade para o mercado brasileiro de camarão

The present paper has the purpose of investigate the dynamics of the volatility structure in the shrimp prices in the Brazilian fish market. Therefore, a description of the initial aspects of the shrimp price series was made. From this information, statistics tests were made and selected univariate models to be price predictors. Then, it was verified the existence of relationship of long-term equilibrium between the Brazilian and American imported shrimp and if, confirmed the relationship, whether or not there is a causal link between these assets, considering that the two countries had presented trade relations over the years. It is presented as an exploratory research of applied nature with quantitative approach. The database was collected through direct contact with the Companhia de Entrepostos e Armazéns Gerais de São Paulo (CEAGESP) and on the official website of American import, National Marine Fisheries Service - National Oceanic and Atmospheric Administration (NMFS- NOAA). The results showed that the great variability in the active price is directly related with the gain and loss of the market agents. The price series presents a strong seasonal and biannual effect. The average structure of price of shrimp in the last 12 years was R$ 11.58 and external factors besides the production and marketing (U.S. antidumping, floods and pathologies) strongly affected the prices. Among the tested models for predicting prices of shrimp, four were selected, which through the prediction methodologies of one step forward of horizon 12, proved to be statistically more robust. It was found that there is weak evidence of long-term equilibrium between the Brazilian and American shrimp, where equivalently, was not found a causal link between them. We concluded that the dynamic pricing of commodity shrimp is strongly influenced by external productive factors and that these phenomena cause seasonal effects in the prices. There is no relationship of long-term stability between the Brazilian and American shrimp prices, but it is known that Brazil imports USA production inputs, which somehow shows some dependence productive. To the market agents, the risk of interferences of the external prices cointegrated to Brazilian is practically inexistent. Through statistical modeling is possible to minimize the risk and uncertainty embedded in the fish market, thus, the sales and marketing strategies for the Brazilian shrimp can be consolidated and widespread

Arquitetura empresarial: um estudo de caso sobre a integração entre a plataforma moodle e o sigaa na UFRN

Atualmente, um dos aspectos da gestão da informação que se encontra em evidência é o da arquitetura empresarial, entendida como o conjunto de políticas e escolhas técnicas de padronização e integração para viabilizar as estratégias de negócios da organização. Esta pesquisa tem por objetivo analisar a integração de dois sistemas de gestão na Universidade Federal do Rio Grande do Norte (UFRN) a partir das lentes da arquitetura empresarial. A influência dessa abordagem induz a organização a desenvolver um alicerce de execução com o interesse de suportar com maior eficiência sua estratégia e obter agilidade em seus processos de negócio. A análise da integração desses dois sistemas, através de entrevistas semiestruturadas, no âmbito da UFRN possibilitou a percepção da necessidade de uma estruturação dos processos de TI a partir de uma arquitetura que favoreça um melhor alinhamento das capacidades de TI aos objetivos da organização. A ausência de um modelo operacional pode comprometer a eficiência do Sistema Integrado de Gestão das Atividades Acadêmicas (SIGAA) da UFRN na realização do seu objetivo como plataforma única de gestão das informações da universidade

Avaliação de projetos sociais: análise da metodologia utilizada pela Petrobrás

On the aggravation of social problems and the shortage of resources, the improvement of evaluation methods and control of its application, requiring more efficiency, efficacy, effectiveness and participation in its management, has been growing. As a result, emerges the importance of studying and developing such methodologies. The overall goal of this dissertation is to know what are the difficults to incorporate the point of view of executers and beneficiaries in evaluation process. To do so, has been done a research characterized as qualitative, with a field strategy using the case study of two social projects called Petrobras Child Program, situated in the metropolitan region of Natal, and Content Analysis technique for analyze the data. The conclusions of this work can assist in improving the process of projects evaluation financed by Petrobras, contributing with its social role, besides the possibility of encouraging a greater participation of other society actors, such as beneficiaries, in the evaluation process