Do dividends signal more earnings? a theoretical analysis

The signaling models have contributed to the literature of corporate finance by the formalization of "the informational content of dividends hypothesis". However, these models are under criticism of empirical works, as weak evidences were found supporting one of the main predictions: the positive relation between changes in dividends and changes in earnings. We claim that the failure to verify this prediction does not invalidate the signaling approach. The mo deIs developed up to now assume or derive utility functions with the single-crossing property. We show that signaling is possible in the absence of this property and, in this case, changes in dividend and changes in earnings can be positively or negatively related.

Fluxograma do processo de produção de açúcar e de álcool residual

Curso de Tecnologia Sucroalcooleira. Disciplina Tecnologia de Produção de Açúcar. Fluxograma. Dimensão: 1369x547. Tamanho: 982Kb.

Aluminum tolerance on genotypes of signal grass

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Biodiesel etílico filtrado de óleo residual de soja: desempenho de um trator agrícola na operação de gradagem

Filtered ethyl ester biodiesel from residual soybean oil: performance of an agricultural tractor in the disk harrow operation. This test was conducted to evaluate the performance of an agricultural tractor using a mixture of biodiesel and petroleum diesel. The experiment was conducted at FCAV-Unesp, Jaboticabal, using a 4x2 AFWD tractor with 73.6 kW (100 hp @ 2,300 rpm) of power in the motor, pulling a disk harrow. The biodiesel used was of the ethyl type, filtered, and produced from residual soybean oil. The experimental design was completed randomized in factorial scheme (4x5), with 20 treatments and 4 repetitions, in which 5 ratios of biodiesel and petroleum diesel mixtures were combined (0 and 100%, 25 and 75%, 50 and 50%, 75 and 25% and 100 and 0%), with 4 displacement runs. The analyzed variables were traction bar power, engine rotation and displacement speed. The results evidenced that the mixture ratio (biodiesel and petroleum diesel) did not compromise tractor performance until the limit of 50%.

Manejo de convolvuláceas em dois cultivares de soja semeada diretamente sob palha residual de cana crua

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

Toxicidade residual de alguns agrotóxicos recomendado na agricultura sobre Neoseiulus californicus (McGregor) (Acari: Phytoseiidae)

O objetivo do trabalho foi avaliar a toxicidade residual de alguns agrotóxicos utilizados em citros sobre Neoseiulus californicus (McGregor) em condições de laboratório. O método de bioensaio adotado foi o de contato residual. Folhas de citros da variedade Pêra, acondicionadas em arenas, foram pulverizadas em torre de Potter. A toxicidade residual dos produtos foi avaliada duas horas e 1; 3; 5; 7; 10; 14 e 21 dias após a aplicação. em cada arena, foram transferidas dez fêmeas adultas de N. californicus, juntamente com uma quantidade suficiente de Tetranychus urticae, como fonte de alimento. As avaliações de mortalidade foram realizadas 72 horas após a transferência dos ácaros para as arenas. Os agrotóxicos acrinathrin, deltamethrin, dinocap, enxofre, fenpropathrin, óxido de fenbutatin e propargite não causaram mortalidades significativas em adultos de N. californicus. Foram registradas mortalidades de 29,8; 24,0 e 34,1% para ácaros N. californicus expostos a resíduos de duas horas de idade de abamectim, azocyclotin e cyhexatin, respectivamente. Dicofol, pyridaben e chlorfenapyr causaram 100% de mortalidade aos ácaros predadores expostos aos resíduos tóxicos dos acaricidas, com duas horas de idade. Abamectin provocou mortalidade significativa por um período inferior a um dia. Resíduos dos acaricidas azocyclotin, cyhexatin, dicofol, pyridaben e chlorfenapyr provocaram mortalidades significativas por períodos de 1; 1; 10; 10 e 21dias, respectivamente. Os resultados obtidos no presente experimento servem de subsídio para a escolha adequada dos agrotóxicos a serem utilizados em pomares de citros nos quais N. californicus esteja presente ou naqueles em que o predador venha a ser liberado. Esses resultados também servem para a escolha do momento mais favorável para a liberação dos ácaros predadores dessa espécie no campo, após a aplicação de agrotóxicos nos pomares. Estudos conduzidos em condições de campo ainda são necessários para se compreender melhor o efeito desses agrotóxicos sobre o ácaro predador.

Efeito residual de quatro aplicações anuais de lodo de esgoto e vinhaça na qualidade tecnológica da cana-de-açúcar

O principal objetivo deste trabalho foi avaliar os efeitos residuais, por quatro anos seguidos, de diferentes tipos de resíduos, aplicados de formas e em doses distintas, sobre a qualidade tecnológica da cana-de-açúcar de quinto corte (cultivar SP 81-3250). Os tratamentos testados são combinações de dois tipos de resíduos (lodo de esgoto; vinhaça; lodo de esgoto + vinhaça) com dois modos de aplicação (ao lado da linha de cultivo e em área total) e com duas doses (100 e 200%), e um tratamento-testemunha. O delineamento experimental foi em blocos casualizados, com três repetições, totalizando 39 parcelas. As variáveis analisadas foram: percentagem de sólidos solúveis no caldo extraído (Brix % C.E.), percentagem aparente de sacarose no caldo extraído (Pol % C.E.), percentagem da fibra na cana (Fibra % cana), pureza (%), percentagem aparente de sacarose na cana (Pol % cana), percentagem de açúcares redutores na cana (AR % cana), percentagem de açúcares redutores totais na cana (ART % cana) e açúcares totais recuperáveis (ATR). Os fatores de variação testados (tipo de resíduo, modo de aplicação e doses) não promoveram alterações na qualidade e não comprometeram a valorização da cana-de-açúcar.

Análise de Argamassas Com Substituição Parcial do Cimento Portland Por Cinza Residual de Lenha de Algaroba

With the increase in cement consumption, it has quickly become one of the inputs most consumed by mankind over the last century. This has caused an increase in CO2 emissions, as cement production releases large quantities of this gas into the atmosphere. Adding this fact to the growing consciousness of environmental preservation, it has led to a search for alternatives to cement to complement its derivatives, in the form of waste materials like the ashes. This research aimed to analyze the properties of mortars in fresh and hardened state with partial replacement of Portland cement by residual algaroba wood ash (CRLA) potteries produced by the state of Rio Grande do Norte. The CRLA was collected and sieved, where part of it was ground and characterized in comparison with that just sifted, being characterized according to its chemical composition, grain size, fineness, density, bulk density and index of pozzolanic activity. It was found that the wood ash does not act as pozzolan, and grinding it has not changed its characteristics compared to those just sifted, not justifying its use. Two traces were adopted for this research: 1:3 (cement: fine sand) and 1:2:8 (cement: hydrated lime: medium sand); both in volume, using as materials the CRLA just sifted, CP II F-32 Portland cement, CH-I hydrated lime, river sand and water from the local utility. For each trace were adopted six percentages of partial replacement of cement for wood ash: 0% (control) 5%, 7%, 10%, 12% and 15%. In the fresh state, the mortars were tested towards their consistency index and mass density. In the hardened state, they were tested towards their tensile strength in bending, compressive strength and tensile adhesion strength, and its mass density in the hardened state. The mortar was also analyzed by scanning electron microscopy and X-ray diffraction. Furthermore, it was classified according to NBR 13281 (2005). The results showed that up to a content of 5% substitution and for both traces, the residual algaroba wood ash can replace Portland cement without compromising the mortars microstructure and its fresh and hardened state

Signal transduction-related responses to phytohormones and environmental challenges in sugarcane

Background: Sugarcane is an increasingly economically and environmentally important C4 grass, used for the production of sugar and bioethanol, a low-carbon emission fuel. Sugarcane originated from crosses of Saccharum species and is noted for its unique capacity to accumulate high amounts of sucrose in its stems. Environmental stresses limit enormously sugarcane productivity worldwide. To investigate transcriptome changes in response to environmental inputs that alter yield we used cDNA microarrays to profile expression of 1,545 genes in plants submitted to drought, phosphate starvation, herbivory and N-2-fixing endophytic bacteria. We also investigated the response to phytohormones (abscisic acid and methyl jasmonate). The arrayed elements correspond mostly to genes involved in signal transduction, hormone biosynthesis, transcription factors, novel genes and genes corresponding to unknown proteins.Results: Adopting an outliers searching method 179 genes with strikingly different expression levels were identified as differentially expressed in at least one of the treatments analysed. Self Organizing Maps were used to cluster the expression profiles of 695 genes that showed a highly correlated expression pattern among replicates. The expression data for 22 genes was evaluated for 36 experimental data points by quantitative RT-PCR indicating a validation rate of 80.5% using three biological experimental replicates. The SUCAST Database was created that provides public access to the data described in this work, linked to tissue expression profiling and the SUCAST gene category and sequence analysis. The SUCAST database also includes a categorization of the sugarcane kinome based on a phylogenetic grouping that included 182 undefined kinases.Conclusion: An extensive study on the sugarcane transcriptome was performed. Sugarcane genes responsive to phytohormones and to challenges sugarcane commonly deals with in the field were identified. Additionally, the protein kinases were annotated based on a phylogenetic approach. The experimental design and statistical analysis applied proved robust to unravel genes associated with a diverse array of conditions attributing novel functions to previously unknown or undefined genes. The data consolidated in the SUCAST database resource can guide further studies and be useful for the development of improved sugarcane varieties.

Transcription profiling of signal transduction-related genes in sugarcane tissues

A collection of 237,954 sugarcane ESTs was examined in search of signal transduction genes. Over 3,500 components involved in several aspects of signal transduction, transcription, development, cell cycle, stress responses and pathogen interaction were compiled into the Sugarcane Signal Transduction (SUCAST) Catalogue. Sequence comparisons and protein domain analysis revealed 477 receptors, 510 protein kinases, 107 protein phosphatases, 75 small GTPases, 17 G-proteins, 114 calcium and inositol metabolism proteins, and over 600 transcription factors. The elements were distributed into 29 main categories subdivided into 409 sub-categories. Genes with no matches in the public databases and of unknown function were also catalogued. A cDNA microarray was constructed to profile individual variation of plants cultivated in the field and transcript abundance in six plant organs (flowers, roots, leaves, lateral buds, and 1(st) and 4(th) internodes). From 1280 distinct elements analyzed, 217 (17%) presented differential expression in two biological samples of at least one of the tissues tested. A total of 153 genes (12%) presented highly similar expression levels in all tissues. A virtual profile matrix was constructed and the expression profiles were validated by real-time PCR. The expression data presented can aid in assigning function for the sugarcane genes and be useful for promoter characterization of this and other economically important grasses.

Structural characteristics and forage mass of Tifton 85 pastures managed under three post-grazing residual leaf areas

The experiment was carried out on Cynodon spp cv. Tifton 85 pastures grazed by sheep under rotational stocking, with the objective of evaluating the structural characteristics as well as the forage mass of the pastures subjected to three grazing intensities in successive cycles. Treatments were composed of three residual leaf area indices (rLAI; 2.4; 1.6 and 0.8), allocated in completely randomized blocks with seven replications, totaling 21 experimental units. Tiller population density, pasture height, leaf area index, forage morphological composition and pasture forage mass were evaluated. The rLAI modified the tiller population density, which increased linearly with decrease in the rLAI of the pastures. Dry masses of leaf blade, stem and dead material were inferior when the rLAI imposed were lower, which resulted in differentiated forage production among the treatments. Tifton 85 pastures grazed by sheep in rotational stocking under tropical conditions with different rLAI show a modified sward structure over successive grazing cycles, mainly by alteration in the height and LAI of the plants at pre-grazing and by light interception post-grazing, which change the tiller population density. The residual leaf area index of 1.6 is the most suitable for pasture management for being equivalent to the heights of entrance and exit of animals on and from paddocks of 33 and 19 cm, respectively, which avoid great accumulation of dead material and excessive stem elongation, in addition to ensuring tillering in the sward.

Proposta de localização de uma unidade de tratamento de óleo e gordura residual de fritura na cidade do Natal/RN para produção de biodiesel

This work addresses biodiesel by transesterification from the use of waste frying oil as a possible technological alternative for both reducing greenhouse gas emissions and by presenting themselves as an environmental call to designate a rational use of oil when no longer played in the environment to become renewable energy. It has proposed location of a residual oil and fat treatment plant to produce biodiesel, using models of Location and Routing for the improvement of routes. To achieve the goal, questionnaires were administered in establishments that use oil or vegetable fat in their productive activities in order to quantify the residue, to analyze actions and environmental perception of people who work directly with the residue on the destination you are being given to oil and fat used. It has indicated using of two single setup location, the method of Center of Gravity and the model of Ardalan, a geographical point that minimizes the costs of transporting waste to the treatment plant. Actions have been proposed for the improvement of collection routes this residue using the Routing Method of Scanning, as an illustration. The results demonstrated the lack of knowledge of the people who deal directly with large amounts of waste, on the environmental impacts caused by their incorrect disposal. The models used were uniform since point out to neighborhoods in similar regions. The neighborhoods of Lagoa Nova / Morro Branco (Ardalan) and Nova Descoberta (Center of Gravity) as ideal for the installation of treatment plant. However, it is suggested to be tested other models that take into account new variables than those used (supply of waste and the distance between points). The routing through the method of scanning has shown that it is possible, in a simple way to optimize routes in order to reduce distances and therefore the logistics costs in the collection of such waste. Introducing a route as a test to gather the twenty largest oil suppliers used in sample frying, using as a main factor time 8 hour of working shift every day

Efeitos da Heterogeneidade de Variância Residual entre Grupos de Contemporâneos na Avaliação Genética de Bovinos de Corte

O objetivo deste estudo foi investigar, por meio de dados simulados, o efeito da heterogeneidade de variância residual entre grupos de contemporâneos (GC) sobre as avaliações genéticas de bovinos de corte, e comparar o uso de uma avaliação genética ponderada (R¹Isigmae²) em relação à avaliação que pressupõe homogeneidade de variância (R=Isigmae²). A característica estudada foi ganho de peso pós-desmame corrigido para 345 dias, sendo esta simulada com variância fenotípica de 300 kg² e herdabilidade igual a 0,4. A estrutura de um conjunto real de dados foi utilizada para fornecer os GC e os pais referentes às observações de cada animal. Cinco níveis de heterogeneidade de variância residual foram considerados de forma que os componentes de variância fossem, na média, iguais aos da situação de homogeneidade de variância. Na medida em que níveis mais acentuados de heterogeneidade de variância residual foram considerados, os animais foram selecionados dos GC com maior variabilidade, especialmente com pressão de seleção intensa. em relação à consistência de predição, os produtos e as vacas tiveram seus valores genéticos preditos mais afetados pela heterogeneidade de variância residual do que os touros. O fator de ponderação utilizado reduziu, mas não eliminou o efeito da heterogeneidade de variância. As avaliações genéticas ponderadas apresentaram resultados iguais ou superiores àqueles obtidos pelas avaliações que assumiram homogeneidade de variância. Mesmo quando não necessário, o uso de avaliações ponderadas produziu resultados não inferiores às avaliações que assumiram homogeneidade de variância.

Genetic and environmental heterogeneity of residual variance of weight traits in Nellore beef cattle

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

Genetic variability of residual variance of production traits in Nellore beef cattle

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