Share bidding auctions, sliding scale royalty rates and the new brazilian regulatory framework for the pre-salt areas

O governo brasileiro recentemente aprovou uma legislação instituindo um novo marco regulatório para as reservas petrolíferas do pré-sal. Segundo as novas regras, estas áreas deverão ser licitadas mediante um leilão de partilha de lucro. Motivado por esta mudança, apresentamos um modelo de leilão de partilha sob afiliação, demonstrando a existência de um equilíbrio monótono em estratégias puras e caracterizando a solução. Alem disso, provamos que este mecanismo gera receita esperada maior ou igual a um leilão de primeiro preço usual. Em seguida, introduzimos no modelo uma função representando taxas de royalties que dependem do valor do objeto. Este instrumento permite uma elevação na receita esperada de ambos os modelos, fazendo com que a diferença entre eles encolha. Finalmente, analisando o novo marco regulatório sob o ponto de vista dos resultados obtidos, concluímos que o antigo modelo de concessão utilizado pelo governo brasileiro é mais adequado e lucrativo.

Variáveis que influenciam o encerramento de fundos multiestratégia : estudo para o mercado de fundos brasileiro no período de 2008 a 2014

Este trabalho tem por objetivo o estudo sobre o encerramento de fundos de investimento multiestratégia no mercado brasileiro com relação à influência das variáveis: taxas de administração e performance, idade, desempenho, patrimônio e captação líquida. Os fundos selecionados apresentam características de condomínio aberto, e destinados a investidores em geral, com duas janelas de observação, anuais e trimestrais, durante o período de 2008 a 2014. Os estudos apresentados são separados para dois tipos de fundos: com classificação Master e fundos de investimento em cotas (FIC). Para a determinação de desempenho dos fundos utiliza-se duas diferentes métricas, o retorno descontado da taxa DI e o índice de Sharpe. As variáveis foram avaliadas sob dois distintos modelos, o primeiro utilizando os dados das variáveis em valores absolutos e o segundo classificando-as em quintis. Para a obtenção dos resultados os dados foram aplicados por regressões em painel logística, painel e cross section. Os resultados obtidos mostraram a importância do patrimônio e da captação líquida, seguido por idade. Os desempenhos, tanto retorno descontado quanto o índice de Sharpe, apresentaram menor influência, e com pouca significância os custos de administração e de performance. Um segundo resultado apresentado é a diferença da significância das variáveis entre os tipos de fundos Master e FIC, no grupo de fundos Master apenas patrimônio líquido apresentou consistente influência nos eventos de encerramento em janelas anuais. Outra importante constatação é a diferença existente entre janelas trimestrais e anuais, em que grande parte das variáveis estudadas, principalmente as variáveis de desempenho apresentam maior nível de significância nas janelas mais curtas.

Economic viability of the piaucu Leporinus macrocephalus (Garavello & Britski, 1988) production

Brazilian fish farms presented an accelerated development during the early 90's, mainly because of the increase in fee-fishing operations. To meet the demand of this market, fish production and supply became excessive and, as a consequence, the number of fee-fishing operations, farmers and the final selling price, decreased. This study analyzes the technical aspects, production cost, profitability and economic viability of the production of piaucu (L. macrocephalus) in ponds, based on information from a rural property. Feeding and fingerling costs amount to approximately 47.1 % of the total production cost, representing together with the final selling price the most important factor affecting profitability. The payback period was 8.3 years, the liquid present value US$ 291.07, the internal return margin 9%, and the income-outcome ratio was 1.01, which represents an unattractive investment as a projection based on current conditions. The improvement in productive efficiency enhances the economic valuation index, and that the relative magnitude of cost and income are the most important points for the economic viability of the studied farm.

Custo social de oportunidade na trajetória de acesso ao ensino superior: o caso dos ingressantes na UFRN nos vestibulares de 2006 a 2010

Access is a problem of higher education in Brazil that has existed since the formalization of this has occurred since the installation of the Portuguese court in Brazil in 1808. Only 10% of young people between 18 and 24 years of age attending this level of education in 2000, arriving in 2010 just 15%, far from that determined the National Education Plan in 2001, triple that percentage by the year 2010. In addition, a majority of seats of public HEIs is populated by students from the private network, especially in high-demand courses. In this context, this study aims to identify the costs related to the trajectories of students who were successful in the vestibular UFRN editions from 2006 to 2010. Presents an overview of higher education in Brazil, a brief history of vestibular, as well as new forms of access, and some of the policies to expand such access, highlighting the argument Inclusion UFRN. Focusing on the theme of the paper presents the concepts of opportunity costs and social. After collecting data through a questionnaire and consultation of databases COMPERVE was developed to search for a descriptive and analytical, with the participation of 3,995 students, of whom 1642 (41.1%) had completed secondary education in schools public, and 2,078 (52%) in private schools. The profile indicates that 90% are single, about 50% are 21 years of age, are white and female. In the course of preparation for college entrance exams, 80% chose the course during or after completion of the last year of high school, and almost 70% said they had started preparing at that time. Findings related to the costs involved with this preparation indicate that, in most cases there were school fees and disbursements and workshops, and the purchase of books and other materials, with parents primarily responsible for this cost, the amount disbursed each month was up $ 300 for 64% of respondents and only 7% of them exceeded $ 1,000, the major non-financial costs were characterized by the following resignations: job opportunities (24%) or temporary work (20%) courses of languages (26%), leisure activities (48%), leisure travel (43%), and parties and / or shows (54%). Of social investments by the government, stand out in the tax waiver scholarships for study in private institutions, grant exemption from the registration fee of vestibular, the preparatory courses UFRN, and seminars by COMPERVE / UFRN with networks of high school. From the junction of the opportunity costs (private costs) and social costs (public costs), a new concept: the social opportunity cost, which measures the combined efforts of families and government to finance the opportunity to access higher education of an individual. This concept can and should be incorporated as a strategic vector for the sake of democratic university, which reflects the social model that is sought

Estudo de técnicas para o tratamento alternativo de efluentes oleosos oriundos da industrialização da castanha de caju

An evaluation project was conducted on the technique of treatment for effluent oil which is the deriving process to improve cashews. During the evaluation the following techniques were developed: advanced processes of humid oxidation, oxidative processes, processes of biological treatment and processes of adsorption. The assays had been carried through in kinetic models, with an evaluation of the quality of the process by means of determining the chemical demand of oxygen (defined as a technique of control by means of comparative study between the available techniques). The results demonstrated that the natural biodegradation of the effluent ones is limited, as result using the present natural flora in the effluent one revealed impracticable for an application in the industrial systems, independent of the evaluation environment (with or without the oxygen presence). The job of specific microorganisms for the oily composite degradation developed the viability technique of this route, the acceptable levels of inclusion in effluent system of treatment of the improvement of the cashew being highly good with reasonable levels of removal of CDO. However, the use combined with other techniques of daily pay-treatment for these effluent ones revealed to still be more efficient for the context of the treatment of effluent and discarding in receiving bodies in acceptable standards for resolution CONAMA 357/2005. While the significant generation of solid residues the process of adsorption with agroindustrial residues (in special the chitosan) is a technical viable alternative, however, when applied only for the treatment of the effluent ones for discarding in bodies of water, the economic viability is harmed and minimized ambient profits. Though, it was proven that if used for ends of I reuse, the viability is equalized and justifies the investments. There was a study of the photochemistry process which have are applicable to the treatment of the effluent ones, having resulted more satisfactory than those gotten for the UV-Peroxide techniques. There was different result on the one waited for the use of catalyses used in the process of Photo. The catalyses contained the mixing oxide base of Cerium and Manganese, incorporated of Potassium promoters this had presented the best results in the decomposition of the involved pollutants. Having itself an agreed form the gotten photochemistry daily paytreatment resulted, then after disinfection with chlorine the characteristics next the portability to the water were guarantee. The job of the humid oxidation presented significant results in the removal of pollutants; however, its high cost alone is made possible for job in projects of reuses, areas of low scarcity and of raised costs with the capitation/acquisition of the water, in special, for use for industrial and potable use. The route with better economic conditions and techniques for the job in the treatment of the effluent ones of the improvement of the cashew possesses the sequence to follow: conventional process of separation water-oil, photochemistry process and finally, the complementary biological treatment

Comportamento de cafeeiros (Coffea arabica L. cv. mundo novo) oriundos de ecossistemas diversos, sob condições uniformes

Estudou-se o desempenho de cafeeiros (Coffea arabica L. cv. Mundo Novo) originários de quatro ecossistemas diferentes (sombra, meia sombra, pleno sol e casa de vegetação), quando submetidos a condições de campo. Realizaram-se avaliações da morfologia, desenvolvimento e produtividade biológica do cafeeiro. Efetuaram-se também determinações da nutrição mineral, infestação de pragas e solarização. O crescimento em altura revelou-se superior nas plantas originárias de casa de vegetação e meia sombra. O número de ramos mostrou-se mais elevado em cafeeiros provenientes de locais mais ensolarados, sendo que plantas originárias de locais mais sombreados apresentaram maior número de folhas por ramo. Nestes três parâmetros notou-se uma tendência de recuperação nas condições de campo em cafeeiros provenientes de sombra. O peso da matéria seca foliar revelou-se mais elevado em plantas oriundas de meia sombra e mais baixo naquelas provenientes de casa de vegetação, sendo que nos dois ocorreu adaptação às condições de campo num período de 75 dias. O peso da matéria seca do caule e das raízes mostrou-se mais alto nos cafeeiros originários de casa de vegetação, sendo que a melhor adaptação às condições uniformes também ocorreu com as plantas oriundas da sombra. Quanto ao aspecto nutricional, determinaram-se teores mais elevados de N foliar em plantas oriundas de pleno sol e níveis mais altos de P e Ca em cafeeiros originários de meia sombra. Esse tratamento promoveu também acúmulo de Zn no cafeeiro. O caule dos cafeeiros mostrou teores de nutrientes inferiores às folhas, exceto o nível mais alto de Zn e os níveis semelhantes de Cu. Plantas originárias de pleno sol apresentaram teores mais elevados de Ca e S. As raízes mostraram níveis de nutrientes superiores ao caule e inferiores às folhas, exceto no caso do Cu, Zn e Mn, que se revelaram mais altos no sistema radicular. O nível de infestação de Perileucoptera coffeclla mostrou-se mais elevado nas plantas provenientes de casa de vegetação, sendo que cafeeiros originários de locais sombreados revelaram-se pouco afetados. A infestação de Coccus viridis revelou-se sempre mais elevada em plantas provenientes de meia sombra. Cafeeiros oriundos de pleno sol e ca sa de vegetação não sofreram solarização, sendo que aqueles provenientes de meia sombra e sombra sofreram danos crescentes nas folhas. Sombreamento afetou o desenvolvimento dos cafeeiros em função de sua intensidade e interação com outros fatores bióticos e abióticos do ecossistema.

Distribuição sazonal de parasitos branquiasis em diferentes especies de piexes em pesque-pague do municipio de Guariba-SP, Brasil.

This study was accomplished with the objective of knowing the seasonal distribution of the main species of parasites causes of branchial damages to the fish from fee-fishing at Guariba, State of São Paulo. This city is situated at 21 degrees 15'22'' S, 48 degrees 18'58'' W, in altitude 595 meters. This research was conducted between April, 1997 to March, 1999. From 408 fishes examined, 29.1% of them were infested by the protozoans e metazoans. Leporinus macrocephalus showed the highest parasitism by Trichodina sp., although Piaractus mesopotamicus and Cyprinus carpio were also parasited. Piscinoodinium pillulare infestation were found in L. macrocephalus, P. mesopotamicus, C. carpio e Colossoma macropomum. Monogenetics metazoan have largely been observed in L. macrocephalus, P. mesopotamicus, C. carpio, C. macropomum e cross-bred tambacu. The incidence of this parasite was elevated in the summer for L. macrocephalus, spring for P. mesopotamicus and C. macropomum, and both seasons for cross-bred tambacu. Lernaea cyprinacea copepodes were observed in L. macrocephalus, P. mesopotamicus, C. carpio and cross- breeding tambacu, in spite of the fact that C. carpio has demonstrated high parasitism of adult form. The fish L. macrocephalus, P. mesopotamicus and C. carpio were sponged intensely by Dolops carvalhoi, in situation of high population density. Piaractus mesopotamicus was considered the species more parasited by myxosporídeos, that were also observed in L. macrocephalus and cross-breeding tambacu.

Fauna parasitária de peixes oriundos de pesque-pague do município de Guariba, São Paulo, Brasil

This study describes the occurrence and the seasonality of parasites of cultivated fish from a fee fishing farm located in Guariba, São Paulo State, Brazil (21°15'22'' S, 48°18'58'' W and 595 m of altitude), from August, 2001 to July, 2002. The presence of parasites was researched in pacu Piaractus mesopotamicus (Characidae), common carp Cyprinus carpio (Cyprinidae), nile-tilapia Oreochromis niloticus (Cichlidae), tambacu hybrid (male of P. mesopotamicus x female of tambaqui-Colossoma macropomum) and piraputanga Brycon hillari (Characidae). Results demonstrate that out of 100 fish examined, 15% were sponged for at least one of the following parasites: Trichodina sp.; monogenean helminths; copepodits of Lemaea cyprinacea; adults of L. cyprinacea; or Dolops carvalhoi. In decreasing order, the susceptibility degree of the hosts was C. carpio, P. mesopotamicus, B. hillari, tambacu hybrid and O. niloticus. In decreasing order the reported parasites were monogenean helminths, Dolops carvalhoi, Trichodina sp., adults of Lernaea cyprinacea and their young shapes.

Efeitos do parasitismo sobre a estrutura branquial de Leporinus macrocephalus Garavello e Britsk, 1988 (Anastomidae) e Piaractus mesopotamicus Holmberg, 1887 (Osteichthyes:Characidae).

This work described the lesions caused in different species of fish by gill parasites from fee-fishing at Guariba, State of São Paulo. The research was developed from april, 1997 to march to 1999, seeking to verified the kind tissues lesions from fish. Of these, forty and seven were Leporinus macrocephalus and fifty and five Piaractus mesopotamicus. About 87.2% of the L. macrocephalus, and 58.1% of the P. mesopotamicus were sponged by several species of parasites. The parasite most abundant in L. macrocephalus was Piscinoodinium pillulare, while monogenean, Trichodina sp and myxosporidian infected P. mesopotamicus. Severe gill lesions have been observed in L. macrocephalus and P. mesopotamicus caused by monogenean, P. pillulare e Trichodina sp. parasitism, such as intersticial hemorrhage, sub-epithelium edema, inflammation, epitelial hiperplasy in filaments and lamina, proliferation of mucosal cells and laminar fusion.

Controle de erosão em estradas rurais não pavimentadas, utilizando sistema de terraceamento com gradiente associado a bacias de captação

The agricultural unpaved roads are important road structures for the economic and social agricultural development of the Nation, and the erosion provoked by rain water in the road bed and sides are closely related to bad draining, one of the main factors for their degradation. In order to make the draining system adequate, it is necessary to know about erodibility, infiltration capacity of water in the ground and adoption of mechanical slope abatement with grid elevation and water interception. This study presents drainage model through the construction of terraces with gradient transversally associated to the capitation basin in abruptic red dystrophic argisol soils, medium sandy texture, based on slops abatement techniques, elevating the road bed and deviating flow. The grain sized fractions of this ground (sand, silt, clay) and the aggregate stability indicated that this ground, under anthropic action, presents erosive processes resulting in superficial draining with ground hauling, sanding sources and courses of water situation below roads, providing great environmental impacts in the hydric bodies. The reduction of erosion problems in these unpaved roads is in the adoption of measures that intercept waters from the draining of their stream bed itself, as well as pluvial waters comings from adjacent areas of contribution, that are collected and conducted to inlaid terraces and capitation basis.

Perfil microbiológico de peixes e água de cultivo em pesque-pagues situados na região nordeste do Estado de São Paulo

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Avaliação da relação entre as atividades de engorda e pesque-pague e as características limnológicas destes ambientes aquáticos

Pós-graduação em Aquicultura - FCAV

Racionalização da energia elétrica com aplicação da legislação tarifária em indústria de embalagem plástica

Pós-graduação em Agronomia (Energia na Agricultura) - FCA

Identificação sorológica e perfil de susceptibilidade a antimicrobianos em amostras de Escherichia coli isoladas de peixe e água de pesque-pagues

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Sistema de captação de imagens para avaliação dos movimentos biomecânicos das articulações temporomandibulares

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)