Tangibilidade, classe de ativos e estrutura de capital das empresas listadas na BM&FBOVESPA

This study aims to investigate the influence of the asset class and the breakdown of tangibility as determinant factors of the capital structure of companies listed on the BM & FBOVESPA in the period of 2008-2012. Two current assets classes were composed and once they were grouped by liquidity, they were also analyzed by the financial institutions for credit granting: current resources (Cash, Bank and Financial Applications) and operations with duplicates (Stocks and Receivables). The breakdown of the tangible assets was made based on its main components provided as warrantees for loans like Machinery & Equipment and Land & Buildings. For an analysis extension, three metrics for leverage (accounting, financial and market) were applied and the sample was divided into economic sectors, adopted by BM&FBOVESPA. The data model in dynamic panel estimated by a systemic GMM of two levels was used in this study due its strength to problems of endogenous relationship as well as the omitted variables bias. The found results suggest that current resources are determinants of the capital structure possibly because they re characterized as proxies for financial solvency, being its relationship with debt positive. The sectorial analysis confirmed the results for current resources. The tangibility of assets has inverse proportional relationship with the leverage. As it is disintegrated in its main components, the significant and negative influence of machinery & equipment was more marked in the Industrial Goods sector. This result shows that, on average, the most specific assets from operating activities of a company compete for a less use of third party resources. As complementary results, it was observed that the leverage has persistence, which is linked with the static trade-off theory. Specifically for financial leverage, it was observed that the persistence is relevant when it is controlled for the lagged current assets classes variables. The proxy variable for growth opportunities, measured by the Market -to -Book, has the sign of its contradictory coefficient. The company size has a positive relationship with debt, in favor of static trade-off theory. Profitability is the most consistent variable in all the performed estimations, showing strong negative and significant relationship with leverage, as the pecking order theory predicts

A Corrupção burocrática inibe o empreendedorismo? uma análise empírica dos estados brasileiros

This work aims to investigate the relationship between the entrepreneurship and the incidence of bureaucratic corruption in the states of Brazil and Federal District. The main hypothesis of this study is that the opening of a business in Brazilian states is negatively affected by the incidence of corruption. The theoretical reference is divided into Entrepreneurship and bureaucratic corruption, with an emphasis on materialistic perspective (objectivist) of entrepreneurship and the effects of bureaucratic corruption on entrepreneurial activity. By the regression method with panel data, we estimated the models with pooled data and fixed and random effects. To measure corruption, I used the General Index of Corruption for the Brazilian states (BOLL, 2010), and to represent entrepreneurship, firm entry per capita by state. Tests (Chow, Hausman and Breusch-Pagan) indicate that the random effects model is more appropriate, and the preliminary results indicate a positive impact of bureaucratic corruption on entrepreneurial activity, contradicting the hypothesis expected and found in previous articles to Brazil, and corroborating the proposition of Dreher and Gassebner (2011) that, in countries with high regulation, bureaucratic corruption can be grease in the wheels of entrepreneurship

Tecnologia social para autogestão : um estudo em empreendedorismo econômico solidário da cadeia produtiva da cajucultura no Rio Grande do Norte

The theme of this dissertation is social technology for self-management: a study in economic enterprise supportive of Rio Grande do Norte. The research aimed to obtain evidence that the reapplication of technology management, basic economic-financial and pricing, as production costs, has the potential to contribute to the self-management of APABV. The social technology and self-management are theoretical frameworks used and where workers are central figures in both the generation and replication of technologies that are compatible with their realities, as in the conduct and management approach adopted by them in their venture, they are makers decisions. To achieve the proposed objective was accomplished participatory research, which was used in addition to document analysis, participatory methodologies such as the construction of the DRP, group interview, experience in the production environment and family of entrepreneurs APABV. This research allowed the management technologies such as spreadsheets controls basic economic and financial costs, when socialized and understood by workers has the potential informational and become part of their daily decision-making process of the project, making up social technology

Tributos indiretos na cadeia produtiva do camarão

The state of Rio Grande do Norte counts with a relevant potential in the shrimp farming supply chain. In the larviculture step the state responds for more than half of the national production. In the farming step it is the second largest producer. In the industrial step, its industries have almost 40% of the shrimp processing capacity of the northeast of Brazil. However, this country has the highest tax rate comparing with the main shrimp producer countries. Considering the influence of taxes in the competition among companies, the main goal of this research is to analyze the impact of indirect taxes in the above steps of the supply chain. To achieve it, it will be used the data of the 2011 Census of the Shrimp Farming and it will be applied the Herfindahl-Hirschman Index to identify the market form of those steps. In order to contribute with the characterization of the supply chain, CEO´s of farms and industries will be interviewed. The price-elasticity of the shrimp larvae, the in natura shrimp and the processed shrimp will be analyzed in order to verify the possibility that each one of those three steps has to pass-through the onus of the end of benefit over the ICMS. The data analysis shows that the larviculture step functions as a duopoly and, facing the end of that benefit, it will be able to pass-through most its onus to the farming step. On the other hand, this step functions similar to a perfect competing market, which diminishes its capacity to pass-through that onus to the processing step. This step operates as oligopoly with a lower concentration than the larviculture step but, due to the fact that it faces an oligopsony, it will end up assuming most of that onus, which will cause a decrease in the amount of processed shrimp. It is concluded that the end of that benefit would impact negatively, in this state, the supply chain at all, but mainly the farming and the industrial steps

Teoria de carteiras e a alocação de parques eólicos offshore

The consumption of energy on the planet is currently based on fossil fuels. They are responsible for adverse effects on the environment. Renewables propose solutions for this scenario, but must face issues related to the capacity of the power supply. Wind energy offshore emerging as a promising alternative. The speed and stability are greater winds over oceans, but the variability of these may cause inconvenience to the generation of electric power fluctuations. To reduce this, a combination of wind farms geographically distributed was proposed. The greater the distance between them, the lower the correlation between the wind velocity, increasing the likelihood that together achieve more stable power system with less fluctuations in power generation. The efficient use of production capacity of the wind park however, depends on their distribution in marine environments. The objective of this research was to analyze the optimal allocation of wind farms offshore on the east coast of the U.S. by Modern Portfolio Theory. The Modern Portfolio Theory was used so that the process of building portfolios of wind energy offshore contemplate the particularity of intermittency of wind, through calculations of return and risk of the production of wind farms. The research was conducted with 25.934 observations of energy produced by wind farms 11 hypothetical offshore, from the installation of 01 simulated ocean turbine with a capacity of 5 MW. The data show hourly time resolution and covers the period between January 1, 1998 until December 31, 2002. Through the Matlab R software, six were calculated minimum variance portfolios, each for a period of time distinct. Given the inequality of the variability of wind over time, set up four strategies rebalancing to evaluate the performance of the related portfolios, which enabled us to identify the most beneficial to the stability of the wind energy production offshore. The results showed that the production of wind energy for 1998, 1999, 2000 and 2001 should be considered by the portfolio weights calculated for the same periods, respectively. Energy data for 2002 should use the weights derived from the portfolio calculated in the previous time period. Finally, the production of wind energy in the period 1998-2002 should also be weighted by 1/11. It follows therefore that the portfolios found failed to show reduced levels of variability when compared to the individual production of wind farms hypothetical offshore

Fatores críticos de sucesso para sistemas de informação de apoio ao gerenciamento de projetos: o caso SEBRAE/RN

Universidade Federal do Rio Grande do Norte

A liderança e suas relações com o comprometimento organizacional

This study presents the results of field research of an exploratory descriptive character that seeks to identify the latent dimensions of leadership and organizational commitment as well as to discover the relationship between these two sets of indicators. In the study, 236 respondents were interviewed, 84 being managers or owners and 152 being sales personnel. The research was undertaken in five shopping centers in the municipality of Natal, capital of Rio Grande do Norte, and employed two different questionnaires. One of them was developed by Bass and Avolio, 1992 (in NORTHOUSE, 2004), contained 21 indicators of leadership and was completed by store managers. The other instrument, completed by sales personnel in the stores, was developed by Medeiros, Albuquerque, Marques and Siqueira (2003) and contained a total of 28 indicators of organizational commitment. For the analysis of the data, factor analysis techniques and structural equations modeling were used. Using the factor analysis, five dimensions of leadership and seven dimensions of organizational commitment were found, all of which have a theoretical basis for their explanation. Through the structural equations modeling, a relationship was established between leadership and organizational commitment, in which it was possible to observe that certain leadership styles influence in a positive form the commitment of the employee

Motivação e satisfação à luz do modelo ASH: estudo de caso em indústria de alimentos

Neste estudo, foram examinadas as relações existentes entre a motivação e a satisfação do trabalhador no espaço laboral. O estudo empírico foi conduzido em uma única etapa, por meio da qual buscou-se conhecer as dimensões latentes identificadas e, a partir das dimensões validadas, buscou-se estabelecer relações com características motivacionais, como antecedentes, e satisfação pelo trabalho realizado, como conseqüência do atendimento das necessidades manifestadas pelo trabalhador. Foram entrevistados 38 (trinta e oito) funcionários da empresa Água Mineral Cristalina, incluindo-se os que ocupam cargos de chefia. Como instrumento de coleta de dados, foi utilizada parte do complexo da Auditoria do Sistema Humano ASH, criado por Quijano (1999), que se trata de um modelo de pesquisa na área de Psicologia Social, incluindo a Administração de Recursos Humanos, que analisa os processos psicológicos e psicossociais nas organizações. Para esta pesquisa, foram utilizados dois formulários sugeridos pelo autor citado, (anexos 01 e 02). O primeiro denomina-se condições para a motivação , com 15 (quinze) questões do tipo likert. O segundo, "trabalho bem feito e satisfação de necessidades", tem 22 (vinte e duas) questões, também do tipo likert. O instrumento foi respondido por colaboradores, independente da posição hierárquica, em aproximadamente 10 (dez) a 15 (quinze) minutos. A aplicação foi realizada diretamente pelo pesquisador nas unidades de produção e de administração da empresa. Por meio de modelagem de equações estruturais, foi estabelecido um modelo de relações causais entre as dimensões latentes relacionadas à motivação e o desempenho do empregado quando tem satisfeitas as suas necessidades. Quanto ao tratamento dos dados, este ocorreu de forma quantitativa. Quanto à análise, aconteceu após os dados terem sido tratados. Nesta pesquisa, os dados foram analisados por meio de estatísticas descritivas, atualizando-se os recursos de softwares específicos como Statistic ou SPSS Statistic Package for Social Sciences. Usou-se a técnica de Análise de Regressão, na qual foi utilizado o método STEPWISE que inclui na equação de explicação de uma variável dependente somente aquelas que auxiliam ou incrementam sua explicação. Como variáveis dependentes, foram utilizadas as variáveis do formulário "trabalho bem feito e satisfação de necessidades" e como variável independe as variáveis do questionário "condições para motivação". Sob o ponto de vista prático, este estudo mostrou que um determinado conjunto de características motivacionais influi positivamente na satisfação do trabalhador, que poderá realizar um trabalho bem feito; do lado teórico, a pesquisa verificou explicitamente a hipótese de que os aspectos motivacionais contribuem para que o empregado, sentindo-se satisfeito, desempenhe melhor as atribuições que lhe são conferidas

Energy systems analysis of transboundary river basins in a nexus approach: the Sava river basin study case

Resource management policies are frequently designed and planned to target specific needs of particular sectors, without taking into account the interests of other sectors who share the same resources. In a climate of resource depletion, population growth, increase in energy demand and climate change awareness, it is of great importance to promote the assessment of intersectoral linkages and, by doing so, understand their effects and implications. This need is further augmented when common use of resources might not be solely relevant at national level, but also when the distribution of resources ranges over different nations. This dissertation focuses on the study of the energy systems of five south eastern European countries, which share the Sava River Basin, using a water-food(agriculture)-energy nexus approach. In the case of the electricity generation sector, the use of water is essential for the integrity of the energy systems, as the electricity production in the riparian countries relies on two major technologies dependent on water resources: hydro and thermal power plants. For example, in 2012, an average of 37% of the electricity production in the SRB countries was generated by hydropower and 61% in thermal power plants. Focusing on the SRB, in terms of existing installed capacities, the basin accommodates close to a tenth of all hydropower capacity while providing water for cooling to 42% of the net capacity of thermal power currently in operation in the basin. This energy-oriented nexus study explores the dependency on the basin’s water resources of the energy systems in the region for the period between 2015 and 2030. To do so, a multi-country electricity model was developed to provide a quantification ground to the analysis, using the open-source software modelling tool OSeMOSYS. Three main areas are subject to analysis: first, the impact of energy efficiency and renewable energy strategies in the electricity generation mix; secondly, the potential impacts of climate change under a moderate climate change projection scenario; and finally, deriving from the latter point, the cumulative impact of an increase in water demand in the agriculture sector, for irrigation. Additionally, electricity trade dynamics are compared across the different scenarios under scrutiny, as an effort to investigate the implications of the aforementioned factors in the electricity markets in the region.

PARA ALÉM DE FAZERES TÉCNICOS: O ARQUIVISTA E SUA RELAÇÃO COM O FATOR HUMANO NAS ORGANIZAÇÕES

O fator humano constitui uma das maiores preocupações das organizações contemporâneas. Em todos os setores de uma empresa, sabe-se das vantagens que uma efetiva gestão de pessoas pode proporcionar ao bom funcionamento do organismo. No contexto específico dos arquivos, não é diferente, pois, para que as práticas arquivísticas sejam realizadas com êxito, recorre-se às pessoas, pois são elas que acometem vitalidade aos processos; por conseguinte, o arquivista insere-se nesse contexto como gestor do fator humano. Sendo assim, objetiva-se demonstrar a importância do arquivista como líder na condução das equipes de trabalho envolvidas com o fluxo da informação empresarial. Através de revisão de literatura em publicações da Administração e da Arquivística, bem como estudo documental de um currículo acadêmico, concluiu-se que, o arquivista possui, com base na literatura, papel importante ao gerir as equipes, sobretudo através do monitoramento contínuo das atividades, bem como da aplicação de treinamento. Constatou-se, através da análise curricular, que o curso em questão pretende capacitar o profissional a exercer as atividades de um líder, devendo o arquivista adquirir novas competências, habilidades e responsabilidades, que extrapolam os fazeres técnicos, podendo exercer também seu papel social e atuar junto às equipes de trabalho, com foco na gestão de pessoa e na liderança.

Modelo institucional do processo de estruturação de empresas de desenvolvimento de software: um estudo de múltiplos casos

Some authors have shown the need of understanding the technological structuring process in contemporary firms. From this perspective, the software industry is a very important element because it provides products and services directly to many organizations from many fields. In this case, the Brazilian software industry has some peculiarities that distinguish it from other industries located in developed countries, which makes its understanding even more relevant. There is evidence that local firms take different strategies and structural configurations to enter into a market naturally dominated by large multinational firms. Therefore, this study aims to understand not only the structural configurations assumed by domestic firms but also the dynamic and the process that lead to these different configurations. To do so, this PhD dissertation investigates the institutional environment, its entities and the isomorphic movements, by employing an exploratory, descriptive and explanatory multiple cases study. Eight software development companies from the Recife's information technology Cluster were visited. Also, a form was applied and an interview with one of the main firm s professional was conducted. Although the study is predominantly qualitative, part of the data was analyzed through charts and graphs, providing a companies and environment overview that was very useful to analysis done through the interviews interpretation. As a result, it was realized that companies are structured around hybrids business models from two ideal types of software development companies, which are: software factory and technology-based company. Regarding the development process, it was found that there is a balanced distribution between the traditional and agile development paradigm. Among the traditional methodologies, the Rational Unified Process (RUP) is predominant. The Scrum is the most used methodology among the organizations based on the Agile Manifesto's principles. Regarding the structuring process, each institutional entity acts in such way that generates different isomorphic pressure. Emphasis was given to entities such as customers, research agencies, clusters, market-leading businesses, public universities, incubators, software industry organizations, technology vendors, development tool suppliers and manager s school and background because they relate themselves in a close way with the software firms. About this relationship, a dual and bilateral influence was found. Finally, the structuring level of the organizational field has been also identified as low, which gives a chance to organizational actors of acting independently

A confiança interorganizacional nas compras

This research is part of the field of organizational studies, focusing on organizational purchase behavior and, specifically, trust interorganizational at the purchases. This topic is current and relevant by addressing the development of good relations between buyer-supplier that increases the exchange of information, increases the length of relationship, reduces the hierarchical controls and improves performance. Furthermore, although there is a vast literature on trust, the scientific work that deal specifically at the trust interorganizational still need further research to synthesize and validate the variables that generate this phenomenon. In this sense, this investigation is to explain the antecedents of trust interorganizational by the relationship between the variable operational performance, organizational characteristics, shared values and interpersonal relationships on purchases by manufacturing industries, in order to develop a robust literature, most consensual, that includes the current sociological and economic, considering the effect of interpersonal relationships in this phenomenon. This proposal is configured in a new vision of the antecedents of interorganizational trust, described as significant quantitative from models Morgan and Hunt (1994), Doney and Cannon (1997), Zhao and Cavusgil (2006) and Nyaga, Whipple, Lynch (2011), as well as qualitative analysis of Tacconi et al. (2011). With regard to methodological aspects, the study assumes the form of a descriptive, survey type, and causal trace theoretical and empirical. As for his nature, the investigation, explicative character, has developed a quantitative approach with the use of exploratory factor analysis and structural equation modeling SEM, with the use of IBM software SPSS Amos 18.0, using the method of maximum verisimilitude, and supported by technical bootstraping. The unit of analysis was the buyer-supplier relationship, in which the object under investigation was the supplier organization in view of the purchasing company. 237 valid questionnaires were collected among key informants, using a simple random sampling developed in manufacturing industries (SIC 10-33), located in the city of Natal and in the region of Natal. The first results of descriptive analysis demonstrate the phenomenon of interorganizational trust, in which purchasing firms believe, feel secure about the supplier. This demonstration showed high levels of intensity, predominantly among the vendors that supply the company with materials that are used directly in the production process. The exploratory and confirmatory factor analysis, performed on each variable alone, generated a set of observable and unobservable variables more consistent, giving rise to a model, that needed to be further specified. This again specify model consists of trajectories was positive, with a good fit, with a composite reliability and variance extracted satisfactory, and demonstrates convergent and discriminant validity, in which the factor loadings are significant and strong explanatory power. Given the findings that reinforce the model again specify data, suggesting a high probability that this model may be more suited for the study population, the results support the explanation that interorganizational trust depends on purchases directly from interpersonal relationships, sharing value and operating performance and indirectly of personal relationships, social networks, organizational characteristics, physical and relational aspect of performance. It is concluded that this trust can be explained by a set of interactions between these three determinants, where the focus is on interpersonal relationships, with the largest path coefficient for the factor under study

Sustentabilidade das empresas associadas à REDEPETRO-RN

The present study investigated the management of social, environmental and economic sustainability practices employed by 72 oil companies in Rio Grande do Norte state in Brazil associated to Joint Business Network for Enhancing the Competitive Ability of Suppliers of Goods and Services to the Gas and Oil Industry in Rio Grande do Norte (REDEPETRO-RN). Thus, our investigation aimed to determine the extent to which sustainability practices of companies associated to REDEPETRO-RN are developed through their own efforts or influenced by the Triple Helix interorganizational arrangement (governamental organizations, education and research institutions, and industries). The research instrument used was a questionnaire in order to map and characterize the sustainability practices. The research subjects were business owners and managers. The data collected supported the descriptive, correspondence and correlation analyzes. Were identified a greater emphasis of the companies surveyed in developing sustainability practices and greater economic influence of business organizations in the construction of sustainability status. It was concluded with confirmation of thesis of the REDEPETRO-RN arrangement exhibits the characteristics and functioning of a common Interorganizational Cooperative Arrangement, not those of a triple helix interorganizational arrangement, given that the influences exerted for the development of social, environmental and economical sustainability on the part of teaching and research institutions, and government and business organizations do not interact with one another sufficiently to create a virtuous circle of cooperation among the associated companies. By contrast, the Interorganizational Cooperative Arrangement plays an important role in strengthening the competitiveness of companies affiliated to REDEPETRO-RN, by combining different competencies in an attempt at supporting the adoption of sustainability practices, a role reinforced by the scope of PETROBRAS, which, due to its economic importance, has considerable weight in the managerial decisions of associated companies

Ética na pesquisa em Administração

Ethics on scientific research is approached and often discussed in several areas of knowledge connected to health. In the Administration area there are very few studies which approach the topic of ethics on research. The present paper tried to fill in this gap in the production of knowledge about the topic, investigating how the ethical principles found in the literature and in the codes of conduct are noticed and taken into account in Administration research activities developed by acting researchers in Administration Post Graduation Programs. Theoretically speaking, the study was based mainly on the approaches by Creswell (2007) and Bell and Bryman (2007), which discuss the research ethical principles. Methodologically speaking it was all about an exploratory kind of study, with qualitative research approach. Upon data collection, personal interviews were made aiming at its depth and focus groups were formed. The first stage had interviews with four experienced researchers who took part on a teaching and researching event and on the second stage we used the focus group technique. The focus groups were done in four college institutions along with the post graduation programs in Administration in the states of Rio Grande do Norte, Paraíba and Pernambuco, in Brazil. The results suggest the existence of general principles and parameters for the scientific research recommended in the literature and on official resolution. However, in the Administration area, there are only a few recommendations of good practices when it comes to submitting articles for scientific publications but we found no guidance with ethical principles and parameters which cover all the activities in the scientific research and which specifically meet the research particularities in Administration. The main ethical dilemma pointed by the researchers refers to ethical questions which arise at the time of data collection and on disclosing the results. Most researchers do not know the guidelines and the ethical norms on ethics about research that we have in our country neither do they send in their projects to the research ethics committee. When dilemma arises, they decide the ethical question based on their values and common sense. These elements confirm the thesis that the researcher s procedure in the research activities in Administration is predominantly signed by personal values or by common sense and less by ethical principles, whether by not knowing the normative instruments related to ethics or by disagreeing with any disciplining rules on ethical behavior in the research

Motivação no trabalho voluntário: expectativas e motivos na Pastoral da Criança

The present study has proposed a structural model to identify the reasons why individuals become voluntary, keep and exit this type of work. The empirical space was the Pastoral da Criança - social action agency of the National Conference of Bishops of Brazil (CNBB) - community-based institution that has its work based on solidarity and the sharing of knowledge. The theoretical framework has the context in which are volunteering studies in Brazilian and world level. Then discuss the various concepts of volunteering and presented the theoretical models of volunteer motivation. Studies of Mostyn (1983) and studies conducted by the BEPEGE-Base for Studies and Research in Management Policies and Strategies - in their line of research GERQUAL - Human Resource Management and Organizational Quality - of the Federal University of Rio Grande do Norte as Carvalho e Souza(2006), Souza, Medeiros e Fernandes (2006), Souza et al (2009, 2010), Cavalcante et al (2011a, 2011b, 2011c, 2011d) were the main theoretical references for the construction of the model that was tested. Data collection was done through a survey with 71 indicators, in 2 visits to cities from the Diocese of Pesqueira, Pernambuco. The first data collection occurred in the period between May 30 and June 3, 2011, in Buique/PE and the second collection happened in Pesqueira/PE, in St. Joseph Seminary, in the period between July 6-8, 2011. 720 questionnaires were collected. The sample was divided into two parts. Exploratory Factor Analysis was applied in first part and Confirmatory Factor Analysis - structural equation modeling - in the second half. The examination of the results achieved by the expectations, reasons for entry, reasons for staying and exit reasons showed that all hypotheses were accepted. So the motivation of voluntary Pastoral da Criança can be explained by a set of interactions between these five constructs: Altruistic, Affectionate, Amiable, Adjusted and Astute