Fatores Explicativos da Rendibilidade Anormal Anual das Ações das Empresas Cotadas no Mercado de Capitais Português

Objetivo: Um dos temas atuais de estudo da teoria financeira consiste na análise da relevância da informação existente no mercado de capitais na explicação da rendibilidade das ações das empresas. Na literatura teórica destacam-se quatro grandes grupos de variáveis que se mostram capazes de explicar a rendibilidade das ações das empresas no mercado de capitais, nomeadamente o grupo de variáveis específicas à empresa, o grupo de variáveis setoriais, o grupo de variáveis macroeconómicas e o grupo de variáveis específicas ao mercado de capitais. Esta problemática não pode ser dissociada da teoria dos mercados de capitais eficientes, sobre a qual têm versado vários estudos empíricos com o intuito de averiguarem a possibilidade dos preços de mercado das ações refletirem, de forma consistente, todas as informações relevantes disponíveis no mercado de capitais. Face ao exposto, o principal objetivo do presente trabalho traduz-se na análise do efeito de um conjunto de variáveis, divididas pelos quatro grandes grupos evidenciados na literatura, na explicação da rendibilidade das ações das empresas que cotizam na Euronext Lisboa. Esta análise pretende ser efetuada para a generalidade das empresas que cotizam no mercado de capitais português mas também para as empresas que integram o PSI 20. Desenho/metodologia/abordagem: Investigação quantitativa através da estimação de um modelo econométrico capaz de determinar os fatores explicativos da rendibilidade anormal anual das ações das empresas cotadas no mercado de capitais português. No estudo empírico foram utilizadas diferentes bases de dados, tendo em consideração as necessidades de 2 informação, quer específicas à empresa quer externas à mesma. Em concreto recorreu-se ao Sistema de Análise de Balanços Ibéricos (SABI), ao Instituto Nacional de Estatística (INE) e à Comissão do Mercado de Valores Mobiliários (CMVM). Resultados: Os resultados estimados sugerem que, na generalidade das empresas cotadas na Euronext Lisboa, existem variáveis estatisticamente significativas na explicação da rendibilidade anormal das ações das empresas em cada um dos quatro grandes grupos de variáveis independentes consideradas no estudo. Relativamente às empresas que integram o PSI 20, os resultados sugerem que, apesar de se manter o facto de existirem variáveis estatisticamente significativas na explicação da rendibilidade anormal das ações das empresas nos quatro grandes grupos de variáveis, existem alterações na significância estatística de algumas variáveis, quando se compara com os resultados obtidos para a generalidade das empresas cotadas na praça financeira portuguesa. Originalidade/valor: O presente trabalho procura dar um contributo no sentido de enriquecer a evidência empírica acerca dos fatores explicativos da rendibilidade apresentada pelas ações da empresa no mercado de capitais.

Caracterização físico-química de sistemas micelares

The process of adsorption and micellization of the surfactants sodium dodecyl sulfate, dodecylammonium chloride and hexaethylene glycol mono-n-dodecyl ether in water-air interface has been studied using measurements of surface tension in aqueous media and NaCl 0.1 mol/L in temperatures of 25, 33 and 40 °C. From these data, critical micelle concentrations and thermodynamic parameters of micellization and adsorption were determined in order to elucidate the behaviors of micellization and adsorption for these surfactants in the proposed medium. For the determination of the thermodynamic parameters of adsorption we utilized the equations of isotherms of Langmuir and Gibbs. Γmáx values determined by the different equations were correlated to the explanation of results. Temperature and salinity were analyzed in terms of their influence on the micellization and adsorption process, and the results were explained based on intermolecular interactions. The values of Gmic have confirmed that the micelle formation for the surfactants studied occurs spontaneously

A formação da habilidade de explicar no contexto do ensino médio: o que dizem os livros? o que pensam os professores?

The discussion about explanation in knowledge has been made for decades. Through this course, we present different ways of understanding about what is to explain the history: the primitive ethnographic description, the chronicler, the positivist construction of a historical science and historiography of the second half of twentieth century. Nowadays this discussion needs to be continued both in the general framework of scientific practice as within educational institutions as cognitive - linguistic ability. The focus of our research is by the second approach, which is the explanation as cognitive - linguistic ability. The formation of skills, among them, the explaining one, has been studied by the authors as: (NÚÑEZ 2012; JORBA et al, 2000; SANMARTÍ and IZQUIERDO 2000). This research had as general purpose: to study the processes of formation of the ability to explain social revolution in history classes in high school, by teachers opinion and by content as this theme among history books, in order to support the continuing education of history teachers for high school. Th e qualitative based research used instruments of data collection and analysis protocol for the books prepared for this study, and interviews with teachers. For this, the techniques of content analysis and discourse referenced in Bardin and Orlandi , respec tively were used. At first, the instruments for data collection were developed and validated, while in the second, the data were collected, organized and analyzed. From the answers to the questions of the study results shows that: a) in the analyzed books - do not express the work with the definition of Social Revolution, considering the processes for the formation of this definition, the predominant type of explanation has characteristics of multicausality; proposals for teaching are characterized as eclec tic; b) while teachers speech - it is important the students know the definition of Social Revolution, the ability to explain is more linked to didactic explanation in the classroom than the explanation through epistemological sense. These results indicate that the formation of the ability to explain Social Revolution based in Cultural History approach, are not expressed in the analyzed books, but they can serve as an important resource for this purpose. The discourse of teachers has a potential pointing to the possibility of teaching organization and learning process, based on training or upgrading the explanation skill from the theory of stepwise formation of mental actions and concepts by P.Ya. Galperin. For this purpose, the research constitutes a contri bution to support the continued education of history teachers in high school.

Modelos de condutividade térmica em rochas silicáticas, com ênfase em rochas da província Borborema, NE do Brasil

A practical approach to estimate rock thermal conductivities is to use rock models based just on the observed or expected rock mineral content. In this study, we evaluate the performances of the Krischer and Esdorn (KE), Hashin and Shtrikman (HS), classic Maxwell (CM), Maxwell-Wiener (MW), and geometric mean (GM) models in reproducing the measures of thermal conductivity of crystalline rocks.We used 1,105 samples of igneous and metamorphic rocks collected in outcroppings of the Borborema Province, Northeastern Brazil. Both thermal conductivity and petrographic modal analysis (percent volumes of quartz, K-feldspar, plagioclase, and sum of mafic minerals) were done. We divided the rocks into two groups: (a) igneous and ortho-derived (or meta-igneous) rocks and (b) metasedimentary rocks. The group of igneous and ortho-derived rocks (939 samples) covers most the lithologies de_ned in the Streckeisen diagram, with higher concentrations in the fields of granite, granodiorite, and tonalite. In the group of metasedimentary rocks (166 samples), it were sampled representative lithologies, usually of low to medium metamorphic grade. We treat the problem of reproducing the measured values of rock conductivity as an inverse problem where, besides the conductivity measurements, the volume fractions of the constituent minerals are known and the effective conductivities of the constituent minerals and model parameters are unknown. The key idea was to identify the model (and its associated estimates of effective mineral conductivities and parameters) that better reproduces the measures of rock conductivity. We evaluate the model performances by the quantity  that is equal to the percentage of number of rock samples which estimated conductivities honor the measured conductivities within the tolerance of 15%. In general, for all models, the performances were quite inferior for the metasedimentary rocks (34% <  < 65%) as compared with the igneous and ortho-derived rocks (51% <  < 70%). For igneous and ortho-derived rocks, all model performances were very similar ( = 70%), except the GM-model that presented a poor performance (51% <  < 65%); the KE and HS-models ( = 70%) were slightly superior than the CM and MW-models ( = 67%). The quartz content is the dominant factor in explaining the rock conductivity for igneous and ortho-derived rocks; in particular, using the MW-model the solution is in practice vi UFRN/CCET– Dissertação de mestrado the series association of the quartz content. On the other hand, for metasedimentary rocks, model performances were different and the performance of the KEmodel ( = 65%) was quite superior than the HS ( = 53%), CM (34% <  < 42%), MW ( = 40%), and GM (35% <  < 42%). The estimated effective mineral conductivities are stable for perturbations both in the rock conductivity measures and in the quartz volume fraction. The fact that the metasedimentary rocks are richer in platy-minerals explains partially the poor model performances, because both the high thermal anisotropy of biotite (one of the most common platy-mineral) and the difficulty in obtaining polished surfaces for measurement coupling when platyminerals are present. Independently of the rock type, both very low and very high values of rock conductivities are hardly explained by rock models based just on rock mineral content.

Qualidade dos serviços hoteleiros: percepções dos turistas de negócios de Teresina-PI

Business tourism is one of tourist segments with different market characteristics in relation to others segmentations, such as low seasonality, there is no requirement of natural attractions, it serves as destination projection and it generates profitable larger numbers. Due to the context around business travels, the hotel so many times has a fundamental whole among the elements of the production chain in this segmentation. Business tourism in Teresina is the primary segmentation of the capital, since it represents almost 70% of hotel demand; hence this research has as objective to evaluate through the perceptions of business travelers, the level of quality services of hotels of Teresina. The research is exploratory and descriptive, of functionalist character. This study is characterized by qualitative and quantitative research, supported by a basis of methodological pluralism. For primary data collection was performed applying a suitable research instrument of SERVPERF model (Service Performance). The universe of this study were Teresina's accommodations, restricted to only those that fit in hotel category and it was inside metropolitan area of Teresina. The study subjects were business travelers who were hosted in these hotels. For the analysis, it was considered certain factors: descriptive analysis, factor analysis, correlation matrix analysis of the variables; It was still compiling a graphic of lexicons obtained in the survey about respondent's the notion of quality of vision in the hotel service; Finally, qualitative analysis was based on the theories of marketing, targeting and quality of tourism services applied. The results show that the Teresina hotel service is on a regular average, especially for Reliability and Safety dimensions were highlighted. Whereas, the factor analysis showed the emergence of two factors to explain "Empathy" dimension, one of this is about the organization and the other one is about consumer. And by Lexicometria was possible to observe the importance to the customer of other variables such as: personal aspects, price and location for this tour segmentation.

Antecedentes do engajamento em boca a boca eletrônico positivo entre turistas

This study examined the influence of the tourism destination image as well as satisfaction and motivation in the intention of engaging in a positive electronic word of mouth (eWOM) by tourists through Facebook. In addition, it was also specifically expected to assess the sociodemographic profile and frequency of eWOM publications from those who answered the questions; it also assessed the adequacy of the manifested variables for composition of the following dimensions: Quality, Satisfaction, Image, Motivations and Positive Electronic Word of Mouth (eWOM). And finally, it analyzed a relational model where there are relationships between Quality, Satisfaction, Image and Motivations in the explanation of engagement in the Positive Electronic Word of Mouth (eWOM). With this aim it was conducted a study, based on a hypothetical-deductive logic, which was descriptive in relation to its goals. The analytical approach was quantitative (a survey). The sampling procedure was non-probabilistic, by the convenience method of sampling specifically, having the choice of the subject been made through the probabilistic systematic method, and using time as a factor of systematization in an attempt of making randomly the selection of the interviewed people. The study sample consisted of 355 tourists. The used instrument to collect information was the structured questionnaire whose answers were collected in the main points of entry, exit and rides of tourists on the Pipa’s Beach/RN. Data analysis was carried out using descriptive and multivariate statistics, mainly exploratory and confirmatory factor analysis and structural equation modeling. Among the main results, it was possible to confirm that the Motivations, Satisfaction and Image strongly affect the intention of engaging in positive electronic word of mouth (eWOM). Emphasis is given to the motivations, as they demonstrate bigger impact in explaining the dependent variable; they are followed by the satisfaction and the image. The latter, however, is inversely proportional. Among the motivations, the one with the highest percentage of variance were the social benefits sought by tourists; and presenting the same percentage appears the desire to help other tourists and to vent Positive Emotions. The manifested variables demonstrate to be fully acceptable to be taken as reflexes of their respective factors.

A predominância do filtro ambiental local na montagem de uma floresta tropical de ambiente estressante

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

A correlação locução adjetiva/adjetivo: uma análise funcional

This research deals with the relationship locução adjetiva / adjective, focusing the reasons for using one form or the other one, in situations where the speaker has a choice between an adjective or a locução adjetiva virtually correspondent and vice versa. In general, the objective is to investigate the possibility of correlation between locução adjetiva and adjective, and to identify motivations for the use of one form or the other one. The theoretical support of this paper is the Linguística Funcional Centrada no Uso (LFCU), which groups together theoretical and methodological assumptions of North American Functional Linguistics, represented by authors as Givón (1984), Bybee (2010), Traugott (2011), and Cognitive Linguistics, as developed by Lakoff (1987), Langacker (1987) and Lakoff and Johnson (2002). As regards the methodological procedures, this research is of qualitative and quantitative character: at first, we did the survey data in the texts that made up the corpus, followed by analysis of each them, especially the locução adjetiva, by considering the semantic, morphosyntactic, cognitive and pragmatic aspects. The corpus is composed of 36 texts, taken from 12 issues of the Veja magazine, published between January 2013 and March 2013. As for the results, in the case of locução adjetiva with related adjectives, this research has shown that the choice of former is due to semantic change, the use of lexicalized forms, to priming cases or to stylistic motivations. It means that the choices of one of these two forms go beyond lexical issues, since there are other motivations, such as syntactic, semantic and pragmatic ones.

O problema da matéria escura e o teorema do virial na teoria de gravidade Eddington-Born-Infeld

Dark matter is a fundamental ingredient of the modern Cosmology. It is necessary in order to explain the process of structures formation in the Universe, rotation curves of galaxies and the mass discrepancy in clusters of galaxies. However, although many efforts, in both aspects, theoretical and experimental, have been made, the nature of dark matter is still unknown and the only convincing evidence for its existence is gravitational. This rises doubts about its existence and, in turn, opens the possibility that the Einstein’s gravity needs to be modified at some scale. We study, in this work, the possibility that the Eddington-Born-Infeld (EBI) modified gravity provides en alternative explanation for the mass discrepancy in clusters of galaxies. For this purpose we derive the modified Einstein field equations and find their solutions to a spherical system of identical and collisionless point particles. Then, we took into account the collisionless relativistic Boltzmann equation and using some approximations and assumptions for weak gravitational field, we derived the generalized virial theorem in the framework of EBI gravity. In order to compare the predictions of EBI gravity with astrophysical observations we estimated the order of magnitude of the geometric mass, showing that it is compatible with present observations. Finally, considering a power law for the density of galaxies in the cluster, we derived expressions for the radial velocity dispersion of the galaxies, which can be used for testing some features of the EBI gravity.

O problema da matéria escura e o teorema do virial na teoria de gravidade Eddington-Born-Infeld

Dark matter is a fundamental ingredient of the modern Cosmology. It is necessary in order to explain the process of structures formation in the Universe, rotation curves of galaxies and the mass discrepancy in clusters of galaxies. However, although many efforts, in both aspects, theoretical and experimental, have been made, the nature of dark matter is still unknown and the only convincing evidence for its existence is gravitational. This rises doubts about its existence and, in turn, opens the possibility that the Einstein’s gravity needs to be modified at some scale. We study, in this work, the possibility that the Eddington-Born-Infeld (EBI) modified gravity provides en alternative explanation for the mass discrepancy in clusters of galaxies. For this purpose we derive the modified Einstein field equations and find their solutions to a spherical system of identical and collisionless point particles. Then, we took into account the collisionless relativistic Boltzmann equation and using some approximations and assumptions for weak gravitational field, we derived the generalized virial theorem in the framework of EBI gravity. In order to compare the predictions of EBI gravity with astrophysical observations we estimated the order of magnitude of the geometric mass, showing that it is compatible with present observations. Finally, considering a power law for the density of galaxies in the cluster, we derived expressions for the radial velocity dispersion of the galaxies, which can be used for testing some features of the EBI gravity.

Merleau-Ponty: uma ontologia do visível

This work discusses the ontology of the visible at the thought of Maurice Merleau-Ponty (1908-1961), which points to a depth and opacity of the perceived world that oppose transparency of geometric world thought by René Descartes (1596-1650). At first we approached the Cartesian discourse developed in Dioptrics Descartes, the first of three scientific discourses published in 1637, being introduced by the famous Discourse method. In this sense, this research discusses the mechanistic explanation that the modern philosopher has the vision, process comprising the formation of images on the retina and its communication to the brain, and the subsequent reading performed by an immaterial mind. Discusses the notion of image as a result of the interpretation of the spirit because, for Descartes, is not the eye that sees, but the spirit that reads and decodes the signals that the body receives the world. At another point, reflected on the criticism of the philosopher Maurice Merleau-Ponty at the thought of overflight present in Dioptrics Descartes. Therefore, it takes as its reference the third part of the book The Eye and the Spirit (1961), in which the intellectualist approach of vision is considered a failed attempt to move away from the visible to rebuild it from anywhere . In this sense, it reflects on a new ontology proposed by Merleau-Ponty thinking being without departing from the puzzles of the body and vision. Puzzles that show a promiscuity between the seer and the seen, between sentient and sensitive. Thus, this paper discusses how visibility was treated by the contemporary philosopher, not as something to be judged by the spirit to get a real nature of things, but as a manifestation of the same things. Finally, this research explores the ontology of the visible in merleaupontiano thought, an ontology that does not rebuild or appropriates visible by a thought of overflight, but what you do from your own visibility as compared original and constant with depth in the world.

Merleau-Ponty: uma ontologia do visível

This work discusses the ontology of the visible at the thought of Maurice Merleau-Ponty (1908-1961), which points to a depth and opacity of the perceived world that oppose transparency of geometric world thought by René Descartes (1596-1650). At first we approached the Cartesian discourse developed in Dioptrics Descartes, the first of three scientific discourses published in 1637, being introduced by the famous Discourse method. In this sense, this research discusses the mechanistic explanation that the modern philosopher has the vision, process comprising the formation of images on the retina and its communication to the brain, and the subsequent reading performed by an immaterial mind. Discusses the notion of image as a result of the interpretation of the spirit because, for Descartes, is not the eye that sees, but the spirit that reads and decodes the signals that the body receives the world. At another point, reflected on the criticism of the philosopher Maurice Merleau-Ponty at the thought of overflight present in Dioptrics Descartes. Therefore, it takes as its reference the third part of the book The Eye and the Spirit (1961), in which the intellectualist approach of vision is considered a failed attempt to move away from the visible to rebuild it from anywhere . In this sense, it reflects on a new ontology proposed by Merleau-Ponty thinking being without departing from the puzzles of the body and vision. Puzzles that show a promiscuity between the seer and the seen, between sentient and sensitive. Thus, this paper discusses how visibility was treated by the contemporary philosopher, not as something to be judged by the spirit to get a real nature of things, but as a manifestation of the same things. Finally, this research explores the ontology of the visible in merleaupontiano thought, an ontology that does not rebuild or appropriates visible by a thought of overflight, but what you do from your own visibility as compared original and constant with depth in the world.

A motivação no teatro musical sob a perspectiva da teoria da autodeterminação

Este estudo teve por objetivo geral investigar os processos motivacionais dos participantes de um grupo de Teatro Musical sob a perspectiva da Teoria da Autodeterminação - TAD (RYAN; DECI, 2004; REEVE, 2006). Os pesquisadores Edward Deci e Richard Ryan (1985, 2000, 2008a, 2008b) afirmam que todos os indivíduos possuem uma propensão inclinada à autorregulação. Por esse motivo, a TAD analisa as razões pelas quais os indivíduos podem se envolver ou evitar participar de determinadas atividades, e adota um conceito de internalização que é representada por um continuum de autodeterminação, evidenciando os diferentes tipos de motivação previstos na miniteoria da integração organísmica. Os tipos de motivação podem ser identificados de acordo com o nível de autodeterminação dos indivíduos, através da satisfação de três necessidades psicológicas básicas: a necessidade de autonomia, a necessidade de competência e a necessidade de pertencimento. Esta pesquisa tem uma abordagem qualitativa e escolheu-se o estudo de entrevistas como estratégia de investigação, utilizando a entrevista semiestruturada como principal técnica de coleta de dados. A pesquisa foi realizada com 12 participantes de um grupo de Teatro Musical de uma universidade do Estado Rio Grande do Norte, referida na pesquisa com o pseudônimo de Companhia Musicale. Os resultados apontam que a principal motivação dos alunos não era a intrínseca. Portanto, a motivação foi considerada complexa e multifacetada, pois os participantes passaram por internalização do comportamento dependendo das condições situacionais. As complexidades nas interações puderam promover a satisfação das necessidades psicológicas básicas dos integrantes que apresentaram maior internalização dos comportamentos autodeterminados. Assim, os integrantes com maior desempenho nas tarefas foram os que internalizaram a importância e o valor das atividades. O estudo busca contribuir para futuras pesquisas e colaborar no sentido de perceber a importância de investigar e promover a motivação de alunos, professores, diretores, regentes, coordenadores e participantes de grupos artísticos em geral, trazendo esclarecimentos que ressaltam as contribuições e a importância que a motivação tem sobre o ensino, a aprendizagem musical e o envolvimento de participantes de grupos artísticos em diferentes atividades.

A motivação no teatro musical sob a perspectiva da teoria da autodeterminação

Este estudo teve por objetivo geral investigar os processos motivacionais dos participantes de um grupo de Teatro Musical sob a perspectiva da Teoria da Autodeterminação - TAD (RYAN; DECI, 2004; REEVE, 2006). Os pesquisadores Edward Deci e Richard Ryan (1985, 2000, 2008a, 2008b) afirmam que todos os indivíduos possuem uma propensão inclinada à autorregulação. Por esse motivo, a TAD analisa as razões pelas quais os indivíduos podem se envolver ou evitar participar de determinadas atividades, e adota um conceito de internalização que é representada por um continuum de autodeterminação, evidenciando os diferentes tipos de motivação previstos na miniteoria da integração organísmica. Os tipos de motivação podem ser identificados de acordo com o nível de autodeterminação dos indivíduos, através da satisfação de três necessidades psicológicas básicas: a necessidade de autonomia, a necessidade de competência e a necessidade de pertencimento. Esta pesquisa tem uma abordagem qualitativa e escolheu-se o estudo de entrevistas como estratégia de investigação, utilizando a entrevista semiestruturada como principal técnica de coleta de dados. A pesquisa foi realizada com 12 participantes de um grupo de Teatro Musical de uma universidade do Estado Rio Grande do Norte, referida na pesquisa com o pseudônimo de Companhia Musicale. Os resultados apontam que a principal motivação dos alunos não era a intrínseca. Portanto, a motivação foi considerada complexa e multifacetada, pois os participantes passaram por internalização do comportamento dependendo das condições situacionais. As complexidades nas interações puderam promover a satisfação das necessidades psicológicas básicas dos integrantes que apresentaram maior internalização dos comportamentos autodeterminados. Assim, os integrantes com maior desempenho nas tarefas foram os que internalizaram a importância e o valor das atividades. O estudo busca contribuir para futuras pesquisas e colaborar no sentido de perceber a importância de investigar e promover a motivação de alunos, professores, diretores, regentes, coordenadores e participantes de grupos artísticos em geral, trazendo esclarecimentos que ressaltam as contribuições e a importância que a motivação tem sobre o ensino, a aprendizagem musical e o envolvimento de participantes de grupos artísticos em diferentes atividades.

Avaliação multidimensional da qualidade de vida em idosos: um estudo no Curimataú ocidental paraibano

The fast growth of the elderly population is a reality throughout the world and has become one of the greatest challenges for contemporary public health. When considering the increased life expectancy and the aging as a multidimensional phenomenon, one should highlight the need to investigate if the increase of longevity is associated with satisfactory levels of Quality of Life (QOL). This study has the objective of assessing the QOL of elderly people from the Paraíba’s Western Curimataú microregion, explained by its health and living conditions. This is a cross-sectional and observational study with quantitative design held with 444 elderly people from five cities: Barra de Santa Rosa, Cuité, Nova Floresta, Remígio e Sossego. In order to obtain information, the following instruments were used: I) Questionnaire for collection data related to the elderly population, for sociodemographic, clinical and behavioral characteristics; and II) WHOQOL-Old questionnaire, with a view to measuring and assessing QOL. Data were processed on the IBM-SPSS Statistics 20.0 software by means of the ANOVA (one-way), Student’s t, Mann-Whitney, Kruskal-Wallis and Pearson’s correlation tests, with p-values<0,05 accepted as being statistically significant. The results indicate a good global QOL (ETT=65,69%), with better assessment by elderly men, aged between 60 and 74 years, married, living with partner and children, without caregiver, physical activity practitioners, with up to one health problem before an aspect of multimorbidity and with very good and/or good assessment of basic needs. The self-reported stress showed a negative significant correlation before the global QOL, where the greater the perception of stress, the worse the assessment of QOL. In the faceted assessment of QOL, the Sensory Operation showed the best performance (ETF= 68,86%) and the Social Participation (SP) the worst (ETF=60,37%). In the multiple linear regression model, SP is singly responsible for 51,8% (R2=0,518) of explanation of the global QOL. In the intercorrelation among the WHOQOL-Old facets, only Death and Dying did not reveal significance. The harmony highlighted among the facets raises the need to ensure a comprehensive health care for the elderly population, especially in understanding the social participation as an intrinsic part of the QOL and that it requires the re-discussion and reconstruction of individual and collective, family and community, political and government actions. Hence, guaranteeing an active, healthy and participatory aging, with QOL, is the major challenge.