Estratégia de Investimento baseada em padrões descobertos por mineração de dados em séries históricas de preços diários do Indice IBOVESPA e das ações da PETROBRAS-PN (PETR4.SA)

With the increase of stakeholders and consequently increase of amount of nancial transaction the study of news investment strategies in the stock market with data mining techniques has been the target of important researches. It allows that great historical data base to be processed and analysed looking for pattern that can be used to take a decision in investments. With the idea of getting pro t more than the real indexs' gain, we propose a strategy method of transactions using rules built by algorithm classi cation. For that, diary historical data of Ibovespa index and Petrobras stocks are organized and processed to nding the most important attribute that act decisively when taking a investment decision.To test the accuracy of proposed rules, a non real portfolio management is created, showing the decisions' performance over the real index and stocks' performance. Following the proposed rules, the results show that the strategy of investment give me back a high return that Stock market's return. The exclusive characteristics of algorithms maximize the gain inside the analysed time allowing to determine the techniques' return and the number of the days necessary to double the initial investment. The best classi er applied on the time series and its use on the propose investments strategy will demand 104 days to double the initial capital

O lazer e a difusão da moral protestante

This study of qualitative nature, aimed to investigate the relations arising from experiences in the context of leisure in recreational activities offered in religious camps, with the spread of Protestant moral values .. The study was conducted with the union of literature and exploratory research. First, we sought to understand, through the specific literature, the Protestant society manifestation with its ethics and values, showing how leisure has been sought and appropriated by Protestants institutions. Subsequently, we developed an exploratory research, using as instrument for data collection a mixed questionnaire, applied to a purposeful sample comprised of participants of a religious camp of Protestant institution. Data were analyzed descriptively by Technical Analysis of Thematic Content and indicate that the activities offered at religious camp can diffuse Protestant values directly intentioned, in order to carry religious values so intrinsic to the task, and, indirectly meaning as a tool of evangelism, which are supporting the process of transmission of these values

Simulação de ciclo combinado utilizando software comercial

In Brazil, The power generation has always depended on the rivers, in other words, there are moments that the power generation can vary, which can cause variations in energy supply and even blackout according to the level of water in the reservoirs of the hydroelectric plants. For this reason, many options has been studied, like our example, which is about a combined cycle power plant in Canas. The use of combined cycle is interesting from the point o view of energy, because its efficiency is between 50 and 60%, and from the point of view of environment, because it can burn natural gas, which is cleaner than coal, it reduces the emission of gases that influence on the greenhouse effect. This work aims to perform a technical analysis of a case study of a power plant proposed to be built in Canas by the AES/AES Tietê Group. For the analysis will be used the commercial software GateCycle 6.0.0 from GE, this software has the power of simulating power generation cycles (nuclear, combined, etc.). The energy department of UNESP has the license, which makes possible the academic use of this tool. Two combined cycles were simulated, one using one pressure level HRSG, and another one closer to the real power plant, which is a combined cycle with a three pressure level HRSG. The results were close to expected, for the combined cycle with one pressure HRSG the power was 513,9 MW and a efficiency of 53,27%, in the case with the three pressure level HRSG the power was 517,1 MW and a efficiency of 53,5%. We conclude that the software requires that the user must have the knowledge about the subjects involved in the use of GateCycle in problems resolutions

O saber experiencial na formação inicial de professores a partir das atividades de iniciação à docência no subprojeto de química do PIBID da Unesp de Araraquara

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

O Mercado de terras urbanas e seu papel na produção e transformação do espaço intraurbano em cidades médias: os Casos de Ribeirão Preto/SP e São Carlos/SP

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

O impacto da adesão aos diferentes níveis de Governança Corporativa para o desempenho econômico e financeiro de um segmento de empresas

The importance of the capital market to Brazilian economic development, linked to the the fragility of a theoretical framework on the issue, case for developing this research. The agents operating in the capital market seek security and confidence for decision making on their investment in that sense we seek to address the concept and values of Corporate Governance to pay in the Brazilian capital market. The Corporate Governance, in its essence, is the system by which companies are directed and monitored, involving the relationship between shareholders and the board of companies, as well as a set of mechanisms and factors intended to minimize market failures. Seeking to confirm adherence to a more advanced system of corporate governance can result in a favorable financial performance, companies were investigated operating in the financial sector (intermediation, various services and insurance), listed by BM&FBOVESPA. The stock market ranks the corporate governance systems in three levels: Level 1 (rudimentary), Level 2 (intermediate) and New Market Level (advanced). To earn the impact of different levels of Corporate Governance for the outcome of the selected companies were calculated and analyzed accounting ratios of profitability, capital structure and liquidity from the Standardized Financial Statements (DFP), base year 2011, 2012 and 2013

Custos e rendimentos operacionais da extração de madeira de eucalipto com cabo aéreo

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

Avaliação técnica e econômica do forwarder na extração de madeira em povoamento de eucalipto de primeiro corte

This study aimed to technically and economically evaluate the Forwarder performance in the first cutting wood extraction from a Eucalyptus grandis plantation. Technical analysis included a movement and timing study by continuous method, and the productivity was determined using the extracted wood volume in cubic meters. Economical analysis included operational costs parameters and wood extraction cost. Results referred to the effective operational performance. Loading and unloading activities responded for more than ¾ of the total time of effective Forwarder operational cycle. Operational costs were influenced by maintenance and repair costs. The estimated cost of extraction was US$ 0.97 per cubic meter.

Conflito de interesses ambientais e urbanísticos dentro do contexto da gestão sustentável de cidades de médio porte no Estado de São Paulo

Responsible entrepreneurs responsible for housing project "Vale do Sol III" (claim of deployment) had proposed technique in order to solve conflicts of interest, arising with respect to residents of Vale do Sol I (already implemented). Conflicts gave up due to environmental and urban problems, originated in a notification of responsible concessionaire for the administration of Marechal Rondon highway (entry and exit of people on the road, in the city of Botucatu, Sao Paulo state). This work, based on study case method, within a deductive approach, analyzed urban and environmental aspects of the area in order to contribute to sustainable management of medium-sized cities. There was, moreover, use of GIS software for purpose of supporting this technical analysis. Investigations were carried out within environmental and urban viewpoints about Água Fria watershed, as well as technical and legal basis arising devices both municipal and federal regulations. It was concluded that proposed project of Vale do Sol III, about containment of stormwater and alternative technical and locational traffic, not presented as necessary solution, sufficient and satisfactory in the sense of, at least, mitigate sustainability problems of surrounding area (Água Fria watershed, into which could insert even Vale do Sol I condominium, subject to notification).

Impact of the Level of Disclosure of Financial Information on the Pricing of Shares in the Context of Adverse Selection: an experimental research

Managers know more about the performance of the organization than investors, which makes the disclosure of information a possible strategy for competitive differentiation, minimizing adverse selection. This paper's main goal is to analyze whether or not an entity's level of diclosure may affect the risk perception of individuals and the process of evaluating their shares. The survey was carried out in an experimental study with 456 subjects. In a stock market simulation, we investigated the pricing of the stocks of two companies with different levels of information disclosure at four separate stages. The results showed that, when other variables are constant, the level of disclosure of an entity can affect the expectations of individuals and the process of evaluating their shares. A higher level of disclosure by an entity affected the value of its share and the other company's.

Aspetti processuali del Regolamento n. 1/2003/Ce

The recent reform in European antitrust enforcement is embodied in Regolation n. 1/2003/ Ce and related Communications. Since 2004 when it came into force, some crytical assessments can already be made. The work starts from some technical analysis of the reform, under a procedural perspective, to assess the proceedings’ real impact on parties’ rights and to criticize its limits. Decentralisation has brought about more complicacies, since community procedural systems are not harmonized, neither in their administrative rules, nor in their civil proceedings, which are all involved in the European antitrust network. Therefore, antitrust proceedings end un as being more jurisdictional in their effects than in their guarentees, which is a flaw to be mended by legislators. National laws shoud be harmonized, community law should be clarified and the system should turn more honestly towards a rationalized jurisdiction-cented mechanism. Otherwise, parties defense rights and the overall efficiency are put into doubt. Italy is a good exemple of how many colmlicacies can outburst from national procedures and national decentralised application. An uncertain pattern of judicial control, together with unclear relationships among the institutions to cooperate in the antitrust network can produce more problems than they aim to solve. As to the private enforcement, Regulation n.1 does not even attempt to give precise regulation to this underdeveloped sector. A continual comparison with U.S. system has brought the Commission to become aware both of the risks and of the advanteges of an increased civil antitrust litigation in fronto of national judges. In order to substain a larger development of this parallel and, presently, difficult way of judicial compensation, it is presently ongoing a consultation among states to find suitable incentives to make private enforcement more appealing and effective. The solution to this lack of private litigation is not to be sought in Regulation n. 1 which calls into action national legislators and proceedures to implement further improvements. As a conclusion, Regulation n. 1 is the outpost of an ambitious community design to create an efficient control mechanism over antitrust violations. It focuses on Commission proceedings, powers and sanctions in order to establish deterrence, then it highlights civil litigation perspectives and it involves directly states into antitrust application. It seems that more could be done to technically shape administrative proceedings in a more jurisdictionally oriented form, then to clarify respective roles and coordination mecanisms in order to prevent difficulties easy to forsee. Some of jurisprudential suggestions have been accepted, but much more is left to be done in the future to improve european antitrust enforcement system.

The social construction of cooperation: exchange, identification and collective intentions within the organization

My aim is to develop a theory of cooperation within the organization and empirically test it. Drawing upon social exchange theory, social identity theory, the idea of collective intentions, and social constructivism, the main assumption of my work implies that both cooperation and the organization itself are continually shaped and restructured by actions, judgments, and symbolic interpretations of the parties involved. Therefore, I propose that the decision to cooperate, expressed say as an intention to cooperate, reflects and depends on a three step social process shaped by the interpretations of the actors involved. The first step entails an instrumental evaluation of cooperation in terms of social exchange. In the second step, this “social calculus” is translated into cognitive, emotional and evaluative reactions directed toward the organization. Finally, once the identification process is completed and membership awareness is established, I propose that individuals will start to think largely in terms of “We” instead of “I”. Self-goals are redefined at the collective level, and the outcomes for self, others, and the organization become practically interchangeable. I decided to apply my theory to an important cooperative problem in management research: knowledge exchange within organizations. Hence, I conducted a quantitative survey among the members of the virtual community, “www.borse.it” (n=108). Within this community, members freely decide to exchange their knowledge about the stock market among themselves. Because of the confirmatory requirements and the structural complexity of the theory proposed (i.e., the proposal that instrumental evaluations will induce social identity and this in turn will causes collective intentions), I use Structural Equation Modeling to test all hypotheses in this dissertation. The empirical survey-based study found support for the theory of cooperation proposed in this dissertation. The findings suggest that an appropriate conceptualization of the decision to exchange knowledge is one where collective intentions depend proximally on social identity (i.e., cognitive identification, affective commitment, and evaluative engagement) with the organization, and this identity depends on instrumental evaluations of cooperators (i.e., perceived value of the knowledge received, assessment of past reciprocity, expected reciprocity, and expected social outcomes of the exchange). Furthermore, I find that social identity fully mediates the effects of instrumental motives on collective intentions.

L'efficienza degli indici azionari: un'analisi empirica

La studio dell’efficienza di un indice azionario ha accresciuto la propria importanza nell’industria dell’asset management a seguito della diffusione dell’utilizzo di benchmark e investimenti indicizzati. Il presente lavoro valuta il livello di efficienza dei principali indici del mercato azionario statunitense, dell’Area Euro e italiano. Lo studio empirico ricorre a quattro misure di efficienza: il GRS, un test small-sample multivariato fondato sul CAPM; il test large sample di Wald, implementato tramite una simulazione bootstrap; il test GMM, che è stato applicato in una cornice non-gaussiana attraverso una simulazione block bootstrap; la misura di efficienza relativa di Kandel e Stambaugh. I risultati empirici forniscono una prova evidente della superiore efficienza degli indici equiponderati. Questa conclusione è interpretata sulla base della letteratura scientifica esistente, analizzando le diverse cause di ordine teorico ed empirico che sono state proposte.

La clausola della nazione più favorita dalle convenzioni internazionali all'ordinamento europeo

Il principale obiettivo della tesi è dimostrare come la connessione tra i differenti livelli giuridici che riguardano le relazioni tra Stati membri dell'UE richieda un'interpretazione sistematica delle convenzioni contro le doppie imposizioni intracomunitarie, ed in particolare richieda l'applicazione della clausola della nazione più favorita.

Responsabilita' sociale d'impresa e abitudini alimentari: contributo di Coop nella creazione di valore per i cittadini, per il territorio e i prodotti tipici di qualità

I cambiamenti e le innovazioni sociali, che hanno caratterizzato il secolo scorso, hanno generato mutamenti significativi nella struttura dei consumi, legati in particolare a una maggiore consapevolezza dei consumatori e allo scoppio della crisi economica. Assume sempre maggiore importanza, all’interno delle politiche di brand management, il ruolo della Responsabilità Sociale d’Impresa, che spinge la Grande Distribuzione Organizzata a proporre prodotti con più alti standard qualitativi e di sicurezza. Il caso analizzato è quello della linea biologica ViviVerde Coop, la cui offerta di prodotti biologici a private label ha avuto un impatto molto positivo sul mercato. L’analisi dell’elasticità della curva di domanda di alcuni di questi prodotti nel periodo gennaio 2010-maggio 2012 rivela diversi valori positivi e maggiori di 1, indice del fatto che il prezzo non abbia avuto effetti negativi sulle vendite dei prodotti considerati. Tale evidenza risulta rilevante proprio in un periodo di profonda crisi economica che ha interessato, in modo significativo, anche i consumi alimentari.