CARTEIRAS DE INVESTIMENTOS UMA APLICAÇÃO A PARTIR DO MODELO ELTON-GRUBER

Atualmente, nota-se uma intensa movimentação de capitais financeiros, seja por conta de fusões e incorporações de empresas, seja pela expansão natural do próprio capitalismo, levando então as organizações a buscarem alternativas de financiamento com menores custos, isso quando consideradas as taxas de juros praticadas por instituições financeiras. Concomitantemente a isso, autoridades monetárias, circunstancialmente buscam a redução das taxas de juros que norteiam a economia, no intuito de se atrair novos investimentos produtivos e ainda preservar aqueles existentes. De maneira até paradoxal, a redução das taxas de juros promulgada por autoridades, não exibe a mesma proporção de redução daquelas praticadas pelo mercado. Este aspecto leva os indivíduos, sejam eles gestores de investimentos ou não, a buscarem alternativas de investimentos que proporcionem ganhos monetários superiores àqueles que são fundamentados nas taxas estabelecidas pelas autoridades monetárias. Conciliando a busca de recursos por organizações e a busca por maiores ganhos monetários por parte dos investidores, o mercado de capitais se torna uma alternativa relevante. De modo a conseguir os melhores resultados nesse ambiente, há necessidade de se utilizar modelos e outros instrumentos que propiciem a melhor relação entre risco e retorno, haja vista que todo investidor emite ao menos alguma aversão ao risco. Vários são os instrumentos disponíveis para realizar essas relações, entretanto, muitos deles não acessíveis ao investidor na condição de pessoa física. E mediante esse aspecto, o modelo desenvolvido por Edwin Elton e Martin Gruber surge como alternativa a qualquer investidor, seja por suas características construtivas, seja por sua operacionalidade.

EDUCAÇÃO, MISSÃO E GÊNERO:AS CARTAS DE MARTHA HITE WATTS (1881-1895)

O presente estudo analisou a implantação e a prática educativa do trabalho da missionária metodista norte-americana Martha Hite Watts na virada do século XIX e início do século XX, na cidade de Piracicaba, situada no estado de São Paulo. Os eixos de análise para interpretar as interfaces históricas do período baseiam-se em três aspectos: gênero, educação e missão. Martha Watts, é considerada a primeira educadora metodista no Brasil. Sua atuação se deu a partir de 1881, na cidade de Piracicaba, onde fundou o Colégio Piracicabano, que permanece em funcionamento até o presente momento. Sua experiência educacional foi relevante para o desempenho das escolas metodistas ao adotar uma pedagogia inovadora, nos moldes dos países europeus e de sua terra natal. No Brasil do final do século XIX, Martha Watts mostrou determinação ao enfrentar as diferenças de uma nova cultura e novo ambiente com hábitos, gestos e palavras estranhas para ela. O estudo procurou, a partir do diálogo com as cartas deixadas pela missionária, contribuir para a linha de pesquisa em História da Educação Brasileira. A obra da missionária Martha Watts se configura como um valioso legado para o estudo da História da Educação, História das Mulheres e Gênero.(AU)

ESTUDO DAS FORMAS E DIMENSÕES LINGUAIS DAS ARCADAS DENTÁRIAS EM INDIVÍDUOS BRASILEIROS COM OCLUSÃO NORMAL

A preocupação com o estudo das formas e dimensões das arcadas dentárias sempre esteve presente na ciência ortodôntica. Para a Ortodontia Lingual, que surgiu no final da década de 70, o primeiro artigo publicado foi o Fujita, onde relatou sobre a forma do arco a ser utilizado nesta técnica, a forma de cogumelo. Apesar de estar sendo divulgada de uma maneira mais intensa nestes últimos anos como uma solução estética definitiva e eficaz, o enfoque dos estudos sobre esta técnica tem sido a fabricação de novos materiais, técnicas de montagem do aparelho lingual e soluções clínicas, com poucas menções sobre a morfologia das arcadas dentárias. O presente trabalho tem a finalidade de estudar as formas e dimensões linguais das arcadas dentárias de indivíduos leucodermas com oclusão normal. Foram utilizados 47 pares de modelos de gesso de oclusão normal digitalizados pela face olcusal, previamente desgastadas até o terço médio da coroa para proporcionar melhor visualização. Por meio do programa CorelDraw 12 foram determinados pontos de referências e criados alguns pontos virtuais necessários para a realização das medidas. Os resultados determinaram três formas das arcadas dentárias linguais: cogumelo, árvore de Natal e mista. A maior prevalência foi a forma árvore de Natal, mas quando analisadas separadamente as arcadas dentárias linguais, encontrados no superior, maior prevalência da forma de cogumelo e no inferior da forma árvore de Natal. Conseqüentemente, esta foi a combinação mais prevalente entre as arcadas dentárias linguais superiores e inferiores. Propusemos diagramas para conformação de arcos ortodônticos linguais com base nos valores obtidos da amostra, determinando-se o quartil 1, mediana e quartil 3, como definidores dos tamanhos pequeno, médio e grande.

Using generative models for handwritten digit recognition

We describe a method of recognizing handwritten digits by fitting generative models that are built from deformable B-splines with Gaussian ``ink generators'' spaced along the length of the spline. The splines are adjusted using a novel elastic matching procedure based on the Expectation Maximization (EM) algorithm that maximizes the likelihood of the model generating the data. This approach has many advantages. (1) After identifying the model most likely to have generated the data, the system not only produces a classification of the digit but also a rich description of the instantiation parameters which can yield information such as the writing style. (2) During the process of explaining the image, generative models can perform recognition driven segmentation. (3) The method involves a relatively small number of parameters and hence training is relatively easy and fast. (4) Unlike many other recognition schemes it does not rely on some form of pre-normalization of input images, but can handle arbitrary scalings, translations and a limited degree of image rotation. We have demonstrated our method of fitting models to images does not get trapped in poor local minima. The main disadvantage of the method is it requires much more computation than more standard OCR techniques.

Perceiving edge contrast

We have shown previously that a template model for edge perception successfully predicts perceived blur for a variety of edge profiles (Georgeson, 2001 Journal of Vision 1 438a; Barbieri-Hesse and Georgeson, 2002 Perception 31 Supplement, 54). This study concerns the perceived contrast of edges. Our model spatially differentiates the luminance profile, half-wave rectifies this first derivative, and then differentiates again to create the edge's 'signature'. The spatial scale of the signature is evaluated by filtering it with a set of Gaussian derivative operators. This process finds the correlation between the signature and each operator kernel at each position. These kernels therefore act as templates, and the position and scale of the best-fitting template indicate the position and blur of the edge. Our previous finding, that reducing edge contrast reduces perceived blur, can be explained by replacing the half-wave rectifier with a smooth, biased rectifier function (May and Georgeson, 2003 Perception 32 388; May and Georgeson, 2003 Perception 32 Supplement, 46). With the half-wave rectifier, the peak template response R to a Gaussian edge with contrast C and scale s is given by: R=Cp-1/4s-3/2. Hence, edge contrast can be estimated from response magnitude and blur: C=Rp1/4s3/2. Use of this equation with the modified rectifier predicts that perceived contrast will decrease with increasing blur, particularly at low contrasts. Contrast-matching experiments supported this prediction. In addition, the model correctly predicts the perceived contrast of Gaussian edges modified either by spatial truncation or by the addition of a ramp.

Perceiving edge blur: Gaussian-derivative filtering and a rectifying nonlinearity

We studied the visual mechanisms that encode edge blur in images. Our previous work suggested that the visual system spatially differentiates the luminance profile twice to create the `signature' of the edge, and then evaluates the spatial scale of this signature profile by applying Gaussian derivative templates of different sizes. The scale of the best-fitting template indicates the blur of the edge. In blur-matching experiments, a staircase procedure was used to adjust the blur of a comparison edge (40% contrast, 0.3 s duration) until it appeared to match the blur of test edges at different contrasts (5% - 40%) and blurs (6 - 32 min of arc). Results showed that lower-contrast edges looked progressively sharper. We also added a linear luminance gradient to blurred test edges. When the added gradient was of opposite polarity to the edge gradient, it made the edge look progressively sharper. Both effects can be explained quantitatively by the action of a half-wave rectifying nonlinearity that sits between the first and second (linear) differentiating stages. This rectifier was introduced to account for a range of other effects on perceived blur (Barbieri-Hesse and Georgeson, 2002 Perception 31 Supplement, 54), but it readily predicts the influence of the negative ramp. The effect of contrast arises because the rectifier has a threshold: it not only suppresses negative values but also small positive values. At low contrasts, more of the gradient profile falls below threshold and its effective spatial scale shrinks in size, leading to perceived sharpening.

Perceiving edge blur: linear filtering and a rectifying nonlinearity

We studied the visual mechanisms that encode edge blur in images. Our previous work suggested that the visual system spatially differentiates the luminance profile twice to create the 'signature' of the edge, and then evaluates the spatial scale of this signature profile by applying Gaussian derivative templates of different sizes. The scale of the best-fitting template indicates the blur of the edge. In blur-matching experiments, a staircase procedure was used to adjust the blur of a comparison edge (40% contrast, 0.3 s duration) until it appeared to match the blur of test edges at different contrasts (5% - 40%) and blurs (6 - 32 min of arc). Results showed that lower-contrast edges looked progressively sharper.We also added a linear luminance gradient to blurred test edges. When the added gradient was of opposite polarity to the edge gradient, it made the edge look progressively sharper. Both effects can be explained quantitatively by the action of a half-wave rectifying nonlinearity that sits between the first and second (linear) differentiating stages. This rectifier was introduced to account for a range of other effects on perceived blur (Barbieri-Hesse and Georgeson, 2002 Perception 31 Supplement, 54), but it readily predicts the influence of the negative ramp. The effect of contrast arises because the rectifier has a threshold: it not only suppresses negative values but also small positive values. At low contrasts, more of the gradient profile falls below threshold and its effective spatial scale shrinks in size, leading to perceived sharpening.

Template model for blur coding: the role of early nonlinearity in edge segmentation

We describe a template model for perception of edge blur and identify a crucial early nonlinearity in this process. The main principle is to spatially filter the edge image to produce a 'signature', and then find which of a set of templates best fits that signature. Psychophysical blur-matching data strongly support the use of a second-derivative signature, coupled to Gaussian first-derivative templates. The spatial scale of the best-fitting template signals the edge blur. This model predicts blur-matching data accurately for a wide variety of Gaussian and non-Gaussian edges, but it suffers a bias when edges of opposite sign come close together in sine-wave gratings and other periodic images. This anomaly suggests a second general principle: the region of an image that 'belongs' to a given edge should have a consistent sign or direction of luminance gradient. Segmentation of the gradient profile into regions of common sign is achieved by implementing the second-derivative 'signature' operator as two first-derivative operators separated by a half-wave rectifier. This multiscale system of nonlinear filters predicts perceived blur accurately for periodic and aperiodic waveforms. We also outline its extension to 2-D images and infer the 2-D shape of the receptive fields.

Molecularly imprinted polymers in the drug discovery process

Since molecularly imprinted polymers (MIPs) are designed to have a memory for their molecular templates it is easy to draw parallels with the affinity between biological receptors and their substrates. Could MIPs take the place of natural receptors in the selection of potential drug molecules from synthetic compound libraries? To answer that question this review discusses the results of MIP studies which attempt to emulate natural receptors. In addition the possible use of MIPs to guide a compound library synthesis towards a desired biological activity is highlighted. © 2005 Elsevier B.V. All rights reserved.

Towards a polymeric binding mimic for cytochrome CYP2D6

A series of fluorescent molecularly imprinted polymers has been prepared with a view to generating material capable of mimicking the binding characteristics of the metabolically important cytochrome isoform CYP2D6. Such polymers would have the possibility to form the sensing element in a high-throughput assay for the prediction of CYP2D6 affinity. The imprinted polymers possessed binding-dependent fluorescence. They re-bound their templates and various cross-reactivities were encountered for test compound/drug recognition. One polymer in particular exhibited a rational discrimination amongst the related synthetic templates and was reasonably successful in recognising CYP2D6 substrates from a drug panel. © 2005 Elsevier B.V. All rights reserved.

Spatially orthogonal chemical functionalization of a hierarchical pore network for catalytic cascade reactions

The chemical functionality within porous architectures dictates their performance as heterogeneous catalysts; however, synthetic routes to control the spatial distribution of individual functions within porous solids are limited. Here we report the fabrication of spatially orthogonal bifunctional porous catalysts, through the stepwise template removal and chemical functionalization of an interconnected silica framework. Selective removal of polystyrene nanosphere templates from a lyotropic liquid crystal-templated silica sol–gel matrix, followed by extraction of the liquid crystal template, affords a hierarchical macroporous–mesoporous architecture. Decoupling of the individual template extractions allows independent functionalization of macropore and mesopore networks on the basis of chemical and/or size specificity. Spatial compartmentalization of, and directed molecular transport between, chemical functionalities affords control over the reaction sequence in catalytic cascades; herein illustrated by the Pd/Pt-catalysed oxidation of cinnamyl alcohol to cinnamic acid. We anticipate that our methodology will prompt further design of multifunctional materials comprising spatially compartmentalized functions.

Mass transfer characteristics of two-aqueous-phase liquid-liquid mixtures

Mass transfer rates were studied using the falling drop method. Cibacron Blue 3 GA dye was the transferring solute from the salt phase to the PEG phase. Measurements were undertaken for several concentrations of the dye and the phase-forming solutes and with a range of different drop sizes, e.g. 2.8, 3.0 and 3.7 mm. The dye was observed to be present in the salt phase as finely dispersed solids but a model confirmed that the mass transfer process could still be described by an equation based upon the Whitman two-film model. The overall mass transfer coefficient increased with increasing concentration of the dye. The apparent mass transfer coefficient ranged from 1 x 10-5 to 2 x 10 -4 m/s. Further experiments suggested that mass transfer was enhanced at high concentration by several mechanisms. The dye was found to change the equilibrium composition of the two phases, leading to transfer of salt between the drop and continuous phases. It also lowered the interfacial tension (i.e. from 1.43 x 10-4 N/m for 0.01% w/w dye concentration to 1.07 x 10-4 N/m for 0.2% w/w dye concentration) between the two phases, which could have caused interfacial instabilities (Marangoni effects). The largest drops were deformable, which resulted in a significant increase in the mass transfer rate. Drop size distribution and Sauter mean drop diameter were studied on-line in a 1 litre agitated vessel using a laser diffraction technique. The effects of phase concentration, dispersed phase hold-up and impeller speed were investigated for the salt-PEG system. An increase in agitation speed in the range 300 rpm to 1000 rpm caused a decrease in mean drop diameter, e.g. from 50 m to 15 m. A characteristic bimodal drop size distribution was established within a very short time. An increase in agitation rate caused a shift of the larger drop size peak to a smaller size.

A configuration framework of manufacturing strategy paradigm in state owned enterprises within China's petrochemical industry:building context-embedded configurations for the paradigm of strategic manufacturing management from exploratory case studies

The role of the production system as a key determinant of competitive performance of business operations- has long been the subject of industrial organization research, even predating the .explicit conceptua1isation of manufacturing, strategy in the literature. Particular emergent production issues such as the globalisation of production, global supply chain management, management of integrated manufacturing and a growing e~busjness environment are expected to critically influence the overall competitive performance and therefore the strategic success of the organization. More than ever, there is a critical need to configure and improve production system and operations competence in a strategic way so as to contribute to the long-term competitiveness of the organization. In order to operate competitively and profitably, manufacturing companies, no matter how well managed, all need a long-term 'strategic direction' for the development of operations competence in order to consistently produce more market value with less cost towards a leadership position. As to the long-term competitiveness, it is more important to establish a dynamic 'strategic perspective' for continuous operational improvements in pursuit of this direction, as well as ongoing reviews of the direction in relation to the overall operating context. However, it also clear that the 'existing paradigm of manufacturing strategy development' is incapable of adequately responding to the increasing complexities and variations of contemporary business operations. This has been factually reflected as many manufacturing companies are finding that methodologies advocated in the existing paradigm for developing manufacturing strategy have very limited scale and scope for contextual contingency in empirical application. More importantly, there has also emerged a deficiency in the multidimensional and integrative profile from a theoretical perspective when operationalising the underlying concept of strategic manufacturing management established in the literature. The point of departure for this study was a recognition of such contextual and unitary limitations in the existing paradigm of manufacturing strategy development when applied to contemporary industrial organizations in general, and Chinese State Owned Enterprises (SOEs) in particular. As China gradually becomes integrated into the world economy, the relevance of Western management theory and its paradigm becomes a practical matter as much as a theoretical issue. Since China markedly differs from Western countries in terms of culture, society, and political and economic systems, it presents promising grounds to test and refine existing management theories and paradigms with greater contextual contingency and wider theoretical perspective. Under China's ongoing programmes of SOE reform, there has been an increased recognition that strategy development is the very essence of the management task for managers of manufacturing companies in the same way as it is for their counterparts in Western economies. However, the Western paradigm often displays a rather naive and unitary perspective of the nature of strategic management decision-making, one which largely overlooks context-embedded factors and social/political influences on the development of manufacturing strategy. This thesis studies the successful experiences of developing manufacturing strategy from five high-performing large-scale SOEs within China’s petrochemical industry. China’s petrochemical industry constitutes a basic heavy industrial sector, which has always been a strategic focus for reform and development by the Chinese government. Using a confirmation approach, the study has focused on exploring and conceptualising the empirical paradigm of manufacturing strategy development practiced by management. That is examining the ‘empirical specifics’ and surfacing the ‘managerial perceptions’ of content configuration, context of consideration, and process organization for developing a manufacturing strategy during the practice. The research investigation adopts a qualitative exploratory case study methodology with a semi-structural front-end research design. Data collection follows a longitudinal and multiple-case design and triangulates case evidence from sources including qualitative interviews, direct observation, and a search of documentations and archival records. Data analysis follows an investigative progression from a within-case preliminary interpretation of facts to a cross-case search for patterns through theoretical comparison and analytical generalization. The underlying conceptions in both the literature of manufacturing strategy and related studies in business strategy were used to develop theoretical framework and analytical templates applied during data collection and analysis. The thesis makes both empirical and theoretical contributions to our understanding of 'contemporary management paradigm of manufacturing strategy development'. First, it provides a valuable contextual contingency of the 'subject' using the business setting of China's SOEs in petrochemical industry. This has been unpacked into empirical configurations developed for its context of consideration, its content and process respectively. Of special note, a lean paradigm of business operations and production management discovered at case companies has significant implications as an emerging alternative for high-volume capital intensive state manufacturing in China. Second, it provides a multidimensional and integrative theoretical profile of the 'subject' based upon managerial perspectives conceptualised at case companies when operationalising manufacturing strategy. This has been unpacked into conceptual frameworks developed for its context of consideration, its content constructs, and its process patterns respectively. Notably, a synergies perspective towards the operating context, competitive priorities and competence development of business operations and production management has significant implications for implementing a lean manufacturing paradigm. As a whole, in so doing, the thesis established a theoretical platform for future refinement and development of context-specific methodologies for developing manufacturing strategy.

Synthesis and characterisation of imprinted polymeric receptor mimics

Molecularly imprinted polymers (MIPs) are crosslinked polymers containing bespoke functionalised cavities arising from the inclusion of template molecules in the polymerisation mixture and their later extraction. When the polymers are prepared functional polymerisable monomers are included which become part of the polymer matrix and serve to decorate the cavities with functionality appropriate to the template molecules. Overall, binding sites are created which have a memory for the template both in terms of shape and matching functionality. Fluorescent molecularly imprinted polymers have the benefit of a fluorophore in their cavities that may respond to the presence of bound test compound by a change in their fluorescence output. The work presented falls into three main areas. A series of fluorescent MIPs was prepared with a view to generating material capable of mimicking the binding characteristics of the metabolically important cytochrome isoform CYP2D6. The MIPs re-bound their templates and various cross-reactivities were encountered for test compound/drug recognition. One MIP in particular exhibited a rational discrimination amongst the related synthetic templates and was reasonably successful in recognising CYP2D6 substrates from the drug set tested. In order to give some insights into binding modes in MIPs, attempts were made to produce functional monomers containing two or more fluorophores that could be interrogated independently. A model compound was prepared which fitted the dual-fluorophore criteria and which will be the basis for future incorporation into MIPs. A further strand to this thesis is the deliberate incorporation of hydrophobic moieties into fluorescent functional monomers so that the resulting imprinted cavities might be biomimetic in their impersonation of enzyme active sites. Thus the imprinted cavities had specific hydrophobic regions as well as the usual polar functionality with which to interact with binding test compounds.

The heteromeric 5-HT3A/B receptor:the effect of 5-HT3B subunits on receptor structure and ligand recognition

The 5-HT3 receptors are members of the cys-loop family of ligand-gated ion channels. Two functional subtypes are known, the homomeric 5HT3A and the heteromeric 5HT3A/B receptors, which exhibit distinct biophysical characteristics but are difficult to differentiate pharmacologically. Atomic force microscopy has been used to determine the stoichiometry and architecture of the heteromeric 5HT3A/B receptor. Each subunit was engineered to express a unique C-terminal epitope tag, together with six sequential histidine residues to facilitate nickel affinity purification. The 5-HT3 receptors, ectopically expressed in HEK293 cells, were solubilised, purified and decorated with antibodies to the subunit specific epitope tags. Imaging of individual receptors by atomic force microscopy revealed a pentameric arrangement of subunits in the order BBABA, reading anti-clockwise when viewed from the extracellular face. Homology models for the heteromeric receptor were then constructed using both the electron microscopic structure of the nicotinic acetylcholine receptor, from Torpedo marmorata, and the X-ray crystallographic structure of the soluble acetylcholine binding protein, from Lymnaea stagnalis, as templates. These homology models were used, together with equivalent models constructed for the homomeric receptor, to interpret mutagenesis experiments designed to explore the minimal recognition differences of both the natural agonist, 5-HT, and the competitive antagonist, granisetron, for the two human receptor subtypes. The results of this work revealed that the 5-HT3B subunit residues within the ligand binding site, for both the agonist and antagonist, are accommodating to conservative mutations. They are consistent with the view that the 5-HT3A subunit provides the principal and the 5-HT38 subunit the complementary recognition interactions at the binding interface.