Determinantes de rentabilidade de empresas apoiadas pelo Programa BNDES de Desenvolvimento da Indústria de Software - BNDES PROSOFT Empresa

Este estudo objetiva analisar fatores que impactam a lucratividade de companhias beneficiadas com o Programa para Desenvolvimento da Indústria Nacional de Software e Serviços de TI – BNDES PROSOFT. A análise da lucratividade permeia diversos estudos no país e no exterior e é de suma importância para a realização de políticas públicas de qualidade. Para a avaliação, foram elencados diferentes aspectos microeconômicos, incluindo informações contábeis, de emprego, localização da empresa, segmento de atuação, entre outros, utilizando a metodologia de dados em painel. Dentre os resultados obtidos, pode-se destacar o impacto positivo do nível da escolaridade da equipe, lucratividade observada no exercício anterior, maior retorno das empresas menores frente às de maior porte. Houve penalidade no lucro daquelas companhias voltadas para fabricação de hardware, com equipes maiores. Constatou-se, também, um decréscimo no lucro de empresas no ano em que contrataram financiamentos com o BNDES, estas que foram posteriormente beneficiadas, no momento da implantação do projeto.

Compliance com os requisitos de divulgação do IFRS - International Financial Reporting Standards e sua relação com o erro de previsão dos analistas de mercado

O objetivo deste estudo é fazer uma análise da relação entre o erro de previsão dos analistas de mercado quanto à rentabilidade das empresas listadas na BM&FBOVESPA S.A. (Bovespa) e os requerimentos de divulgação do International Financial Reporting Standards (IFRS). Isto foi feito através da regressão do erro de previsão dos analistas, utilizando a metodologia de dados em painel no ano de implantação do IFRS no Brasil, 2010, e, complementarmente em 2012, para referenciamento desses dados. Partindo desse pressuposto, foi determinado o erro de previsão das empresas listadas na Bovespa através de dados de rentabilidade (índice de lucro por ação/earnings per share) previstos e realizados, disponíveis nas bases de dados I/B/E/S Earnings Consensus Information, providos pela plataforma Thomson ONE Investment Banking e Economática Pro®, respectivamente. Os resultados obtidos indicam uma relação negativa entre o erro de previsão e o cumprimento dos requisitos de divulgação do IFRS, ou seja, quanto maior a qualidade nas informações divulgadas, menor o erro de previsão dos analistas. Portanto, esses resultados sustentam a perspectiva de que o grau de cumprimento das normas contábeis é tão ou mais importante do que as próprias normas. Adicionalmente, foi verificado que quando a empresa listada na BM&FBOVESPA é vinculada a Agência Reguladora, seu erro de previsão não é alterado. Por fim, esses resultados sugerem que é importante que haja o aprimoramento dos mecanismos de auditoria das firmas quanto ao cumprimento dos requerimentos normativos de divulgação, tais como: penalidades pela não observância da norma (enforcement), estruturas de governança corporativa e auditorias interna e externa.

Conexões políticas e o desempenho empresarial pós-aquisição no Brasil

Este estudo buscou analisar o efeito das conexões políticas das empresas no nível do Conselho de Administração sobre o desempenho, após o processo de aquisição. Estudos anteriores já identificaram esta relação apontando efeitos, de positivos a neutros das conexões políticas sobre o desempenho, além de influenciar a frequência e o tamanho das operações (BROCKMAN; RUI; ZOU, 2013; LIU; WANG; ZHANG, 2013). Esta pesquisa estende tais análises aplicando o modelo para as empresas brasileiras além de incluir informações sobre o tipo de conexão política para avaliar diferentes impactos. Este estudo foi conduzido dentro do âmbito das empresas compradoras listadas na BM&Bovespa entre os anos de 1999 e 2014, utilizando modelos econométricos de Propensity Score Matching e dados em painel. Partindo da análise de currículos dos conselheiros, foram codificados os diferentes tipos de conexão, como instituições financeiras públicas e de desenvolvimento e agências reguladoras além das formas tradicionais de conexões políticas (FACCIO, 2006). Com base nos resultados foi encontrada uma associação entre as conexões com agências reguladoras e o desempenho pós-aquisição das empresas adquirentes, bem como indícios de uma relação entre os efeitos das conexões com bancos públicos e de desenvolvimento. Não foi possível apontar resultados para as conexões políticas tradicionais

An essay on economic growth: classical determinants, convergence and financial development

This dissertation surveys the literature on economic growth. I review a substantial number of articles published by some of the most renowned researchers engaged in the study of economic growth. The literature is so vast that before undertaking new studies it is very important to know what has been done in the field. The dissertation has six chapters. In Chapter 1, I introduce the reader to the topic of economic growth. In Chapter 2, I present the Solow model and other contributions to the exogenous growth theory proposed in the literature. I also briefly discuss the endogenous approach to growth. In Chapter 3, I summarize the variety of econometric problems that affect the cross-country regressions. The factors that contribute to economic growth are highlighted and the validity of the empirical results is discussed. In Chapter 4, the existence of convergence, whether conditional or not, is analyzed. The literature using both cross-sectional and panel data is reviewed. An analysis on the topic of convergence using a quantile-regression framework is also provided. In Chapter 5, the controversial relationship between financial development and economic growth is analyzed. Particularly, I discuss the arguments in favour and against the Schumpeterian view that considers financial development as an important determinant of innovation and economic growth. Chapter 6 concludes the dissertation. Summing up, the literature appears to be not fully conclusive about the main determinants of economic growth, the existence of convergence and the impact of finance on growth.

Análise da efetividade do transplante renal na qualidade de vida dos receptores no estado do Rio Grande do Norte

This study was developed with the aim of analyzing the effectiveness of renal transplantation on quality of life of kidney recipients in the Rio Grande do Norte State. This is a descriptive study with longitudinal design, panel type with quantitative approach to data analysis. The Quality of Life (QoL) of chronic disease kidney patients before and after kidney transplantation was assessed by the WHOQOL-bref, The population consisted of patients in pre and post-renal transplantation, the sample had 63 patients older than 18 years. The study was conducted after approval by the Research Ethics Committee of the Onofre Lopes University Hospital, Federal University of Rio Grande do Norte, No. CAAE 0008.0.294.000-10. Data collection was performed at a referral center for renal transplantation in Rio Grande do Norte, from May 2010 to May 2013. Data were analyzed using descriptive statistics and presented in tables and graphs. For statistical analyzes, Microsoft Excel XP and SPSS 15.0 software were used. The tests used were simple variance (ANOVA), t-test, Mann-Whitney and Wilcoxon test to compare means, and Spearman correlations. P values <0.05 were considered significant. The demographic data showed a predominance of people between 18 and 45 years (68.2%) with a mean age of 39.9 years (SD 12.2), male (63.5%), married (58.7%), with children (51.0%). Regarding the education level was observed that 49.2% of participants had completed primary school, and most did not engage in any work activity (90.4%) during the study period. Hemodialysis was the predominant renal replacement therapy (96.8%) and the average waiting time for execution of transplantation was 1.9 years (SD 1.9). Comparison of QoL before and after transplantation showed significant differences in all areas analyzed, demonstrating that kidney transplantation had a positive impact on QoL in chronic renal patients undergoing kidney transplantation. Sociodemographic factors did not influence the quality of life in this group of patients, indicating that transplantation was the main factor to explain the improvement in quality of life. Thus, the alternative hypothesis of the study was accept, that there is a significant difference in quality of life before and after kidney transplant. It is expected that the results of this study may contribute to the development of strategies to encourage organ donation and kidney transplantation process

Influence of data structure on the estimation of the additive genetic direct and maternal covariance for early growth traits in Nellore cattle

The objective of the present study was to investigate the effect of data structure on estimated genetic parameters and predicted breeding values of direct and maternal genetic effects for weaning weight (WW) and weight gain from birth to weaning (BWG), including or not the genetic covariance between direct and maternal effects. Records of 97,490 Nellore animals born between 1993 and 2006, from the Jacarezinho cattle raising farm, were used. Two different data sets were analyzed: DI_all, which included all available progenies of dams without their own performance; DII_all, which included DI_all + 20% of recorded progenies with maternal phenotypes. Two subsets were obtained from each data set (DI_all and DII_all): DI_1 and DII_1, which included only dams with three or fewer progenies; DI_5 and DII_5, which included only dams with five or more progenies. (Co)variance components and heritabilities were estimated by Bayesian inference through Gibbs sampling using univariate animal models. In general, for the population and traits studied, the proportion of dams with known phenotypic information and the number of progenies per dam influenced direct and maternal heritabilities, as well as the contribution of maternal permanent environmental variance to phenotypic variance. Only small differences were observed in the genetic and environmental parameters when the genetic covariance between direct and maternal effects was set to zero in the data sets studied. Thus, the inclusion or not of the genetic covariance between direct and maternal effects had little effect on the ranking of animals according to their breeding values for WW and BWG. Accurate estimation of genetic correlations between direct and maternal genetic effects depends on the data structure. Thus, this covariance should be set to zero in Nellore data sets in which the proportion of dams with phenotypic information is low, the number of progenies per dam is small, and pedigree relationships are poorly known. (c) 2012 Elsevier B.V. All rights reserved.

Comparison of the Polar S810i monitor and the ECG for the analysis of heart rate variability in the time and frequency domains

The aim of the present study was to compare heart rate variability (HRV) at rest and during exercise using a temporal series obtained with the Polar S810i monitor and a signal from a LYNX® signal conditioner (BIO EMG 1000 model) with a channel configured for the acquisition of ECG signals. Fifteen healthy subjects aged 20.9 ± 1.4 years were analyzed. The subjects remained at rest for 20 min and performed exercise for another 20 min with the workload selected to achieve 60% of submaximal heart rate. RR series were obtained for each individual with a Polar S810i instrument and with an ECG analyzed with a biological signal conditioner. The HRV indices (rMSSD, pNN50, LFnu, HFnu, and LF/HF) were calculated after signal processing and analysis. The unpaired Student t-test and intraclass correlation coefficient were used for data analysis. No statistically significant differences were observed when comparing the values analyzed by means of the two devices for HRV at rest and during exercise. The intraclass correlation coefficient demonstrated satisfactory correlation between the values obtained by the devices at rest (pNN50 = 0.994; rMSSD = 0.995; LFnu = 0.978; HFnu = 0.978; LF/HF = 0.982) and during exercise (pNN50 = 0.869; rMSSD = 0.929; LFnu = 0.973; HFnu = 0.973; LF/HF = 0.942). The calculation of HRV values by means of temporal series obtained from the Polar S810i instrument appears to be as reliable as those obtained by processing the ECG signal captured with a signal conditioner.

Thermal analysis of biodegradable microparticles containing ciprofloxacin hydrochloride obtained by spray drying technique

Thermal analysis has been extensively used to obtain information about drug-polymer interactions and to perform pre-formulation studies of pharmaceutical dosage forms. In this work, biodegradable microparticles of poly(D,L-lactide-co-glycolide) (PLGA) containing ciprofloxacin hydrochloride (CP) in various drug:polymer ratios were obtained by spray drying. The main purpose of this study was to investigate the effect of the spray drying process on the drug-polymer interactions and on the stability of microparticles using differential scanning calorimetry (DSC), thermogravimetry (TG) and derivative thermogravimetry (DTG) and infrared spectroscopy (IR). The results showed that the high levels of encapsulation efficiency were dependant on drug:polymer ratio. DSC and TG/DTG analyses showed that for physical mixtures of the microparticles components the thermal profiles were different from those signals obtained with the pure substances. Thermal analysis data disclosed that physical interaction between CP and PLGA in high temperatures had occurred. The DSC and TG profiles for drug-loaded microparticles were very similar to the physical mixtures of components and it was possible to characterize the thermal properties of microparticles according to drug content. These data indicated that the spray dryer technique does not affect the physicochemical properties of the microparticles. In addition, the results are in agreement with IR data analysis demonstrating that no significant chemical interaction occurs between CP and PLGA in both physical mixtures and microparticles. In conclusion, we have found that the spray drying procedure used in this work can be a secure methodology to produce CP-loaded microparticles. (C) 2007 Elsevier B.V. All rights reserved.

An Intelligent System for Petroleum Well Drilling Cutting Analysis

Cutting analysis is a important and crucial task task to detect and prevent problems during the petroleum well drilling process. Several studies have been developed for drilling inspection, but none of them takes care about analysing the generated cutting at the vibrating shale shakers. Here we proposed a system to analyse the cutting's concentration at the vibrating shale shakers, which can indicate problems during the petroleum well drilling process, such that the collapse of the well borehole walls. Cutting's images are acquired and sent to the data analysis module, which has as the main goal to extract features and to classify frames according to one of three previously classes of cutting's volume. A collection of supervised classifiers were applied in order to allow comparisons about their accuracy and efficiency. We used the Optimum-Path Forest (OPF), Artificial Neural Network using Multi layer Perceptrons (ANN-MLP), Support Vector Machines (SVM) and a Bayesian Classifier (BC) for this task. The first one outperformed all the remaining classifiers. Recall that we are also the first to introduce the OPF classifier in this field of knowledge. Very good results show the robustness of the proposed system, which can be also integrated with other commonly system (Mud-Logging) in order to improve the last one's efficiency.

Family visitors and companions of hospitalized elderly and adults: analysis of the experience from the perspective of the nursing working process

Trata-se de estudo qualitativo, utilizando-se como referencial metodológico a Grounded Theory e como referencial teórico o Processo de Trabalho em Enfermagem, para compreender o papel assumido pelo enfermeiro perante as normas e rotinas hospitalares, relativas aos familiares visitantes e acompanhantes de adultos e idosos internados em um Hospital Universitário. A análise dos dados permitiu a identificação do tema: definindo-se a modalidade de apoio familiar durante a hospitalização, que reúne duas categorias principais: tornando-se familiar visitante e tornando-se familiar acompanhante. Por meio da análise, pôde-se aprofundar a compreensão do quanto as regras estabelecidas, com o objetivo de disciplinar e tornar eficiente o trabalho desenvolvido no hospital, podem explicitar o desprovimento de autonomia no processo de trabalho, para modificar as relações nesse contexto e o quanto a apropriação do familiar como parte da equipe de saúde, está distante de ser pensada no concreto das instituições.

Analysis of Abstracts Presented at the Prosthodontic Research Section of IADR General Sessions 2004-2005: Demographics, Publication Rates, and Factors Contributing to Publication

Purpose: The purposes of this study were to describe the demographics of abstracts presented at the prosthodontics section of IADR General Sessions from 2004 to 2005, evaluate the publication rate of abstracts, and analyze the relationship between variables in abstracts and publication.Materials and Methods: Prosthodontics research section abstracts from the IADR General Session in 2004 and 2005 were evaluated for: number of authors, presentation type, origin, affiliation, topic, study design, statistics, study outcome, and funding. The publication rate was calculated following a PubMed search. The journal of publication, year of publication, and the length of time before publication were analyzed. Descriptive statistics were used for the data analysis; the relationships between presentation type, study design, study outcome, statistics, funding, and publication were analyzed using logistic regression (alpha = 0.05).Results: From 346 abstracts, 37.0% were published. For oral presentations, 40.7% were published; 35.8% of poster presentations were published. The mean duration before publicationwas 26.4months. North America had themost abstracts, and Europe had the most publications. Fixed prosthodontic research had the highest number and proportion for publication. A significant association with publication was noted for neutral study outcomes (p = 0.018), studies with funding (p = 0.035), and abstracts from Europe (p = 0.001).Conclusions: The majority of abstracts from the prosthodontics research section of IADR General Sessions from 2004 and 2005 remain unpublished. A significant association for publication was noted with neutral outcomes, funding, and abstracts from Europe.

Searching for molecular markers in head and neck squamous cell carcinomas (HNSCC) by statistical and bioinformatic analysis of larynx-derived SAGE libraries

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

Status of a hybrid three-neutrino interpretation of neutrino data

We re-analyse the non-standard interaction (NSI) solutions to the solar neutrino problem in the light of the latest solar as well as atmospheric neutrino data. The latter require oscillations (OSC), while the former do not. Within such a three-neutrino framework the solar and atmospheric neutrino sectors are connected not only by the neutrino mixing angle theta(13) constrained by reactor and atmospheric data, but also by the flavour-changing (FC) and non-universal (NU) parameters accounting for the solar data. Since the NSI solution is energy-independent the spectrum is undistorted, so that the global analysis observables are the solar neutrino rates in all experiments as well as the Super-Kamiokande day-night measurements. We find that the NSI description of solar data is slightly better than that of the OSC solution and that the allowed NSI regions are determined mainly by the rate analysis. By using a few simplified ansatzes for the NSI interactions we explicitly demonstrate that the NSI values indicated by the solar data analysis are fully acceptable also for the atmospheric data. (C) 2002 Elsevier B.V. B.V. All rights reserved.

Analyses of fatigue data in 4340 high strength steel after cadmium electroplating

Bending fatigue tests were carried out to clarify the effects of heat treatment parameters: temperature and time after cadmium electroplating on a high strength steel, to avoid hydrogen embrittlement. Temperatures heat of 190 degrees C, 230 degrees C, 250 degrees C and 300 degrees C at 3, 8 and 24 hours together with the base material electroplated, with and without heat treatment, resulted in 14 conditions studied with respect to fatigue behaviour. Statistical data analysis was performed to identify the best combination temperature/time regarding fatigue strength of the ABNT 4340 steel and the results obtained revealed that the fatigue strength depend on temperature/time conditions.

Coordinated views to assist exploration of spatio-temporal data: a case study

In this paper we focus on providing coordinated visual strategies to assist users in performing tasks driven by the presence of temporal and spatial attributes. We introduce temporal visualization techniques targeted at such tasks, and illustrate their use with an application involving a climate classification process. The climate classification requires extensive Processing of a database containing daily rain precipitation values collected along over fifty years at several spatial locations in the São Paulo state, Brazil. We identify user exploration tasks typically conducted as part of the data preparation required in this process, and then describe how such tasks may be assisted by the multiple visual techniques provided. Issues related to the use of the multiple techniques by an end-user are also discussed.