Fusões e aquisições no Brasil: análise dos efeitos em mercado de capitais

This study investigated the impact caused by events horizontal mergers and acquisitions (M&As) horizontal, in the stock returns of the participating companies and competitors regarding the creation or destruction of value for those firms in Brazil, from 2001 to 2012. For this, first was used the event study methodology to estimate abnormal returns in stock prices; after was conducted an analysis multiple regression. The results of the event study showed that using sub-periods for the data, before and after the crisis period, the effects were different for the target-before negative, after positive. Regarding the acquirer and competitors, the results were constant. For acquirer firms, the returns were close to zero, while for the competitors were negative. Furthermore, the regression results regarding the bidder showed that firms invested in processes of M&As to obtain a further increase its efficiency. Furthermore, this study indicated that the leverage of the bidder plays is important for creating value in acquisitions, when they has a higher Tobin’s Q. The results of target firms showed that a small firm had a better return than large firm did.

Análise da problemática socioambiental de nascentes urbanas no município de Garanhuns-PE

Garanhuns City, in Pernambuco, undergoes a rapid, polluting and non-organized urban development affecting its freshwater springs around the urban environment. These sources are of great importance to the district as well as to the hydrographic basin of the Mundaú River. In this view, this paper aims at analyzing the socio-environmental problems resulting from the urban expansion surrounding the Garanhuns’ sources. The study considers the social and environmental dynamics and follows the theoretical contributions of socio-environmental geography proposed by Mendonça’s Urban Environmental System methodological and theoretical model (2004), as well as the conceptual values of Santos’ space theory (2002a). The data treatment included bibliographical and documental research, evaluation of environmental impact, and water analysis. It revealed that Garanhuns possesses many local environmental traits favoring the coming out of freshwater springs and that these sources have played an important role in the making and development of that village. The environmental impacts on freshwater springs, like Olho D’água, Bom Pastor, Vila Maria, Pau Amarelo and Pau Pombo have been evaluated through the environmental impact score IIAN. It put alight serious cases of socio-environmental impacts on the dynamics of the freshwater springs. In the period of April 2013 and April 2014, it monitored the superficial water quality expelled by the Pau Pombo, Pau Amarelo e Vila Maria water sources, and the analyses of the contents followed the determinations of the Environmental National Board, whose parameters are dissolved oxygen, biochemical demand of oxygen, nitrate, total coliforms, faecal coliforms, and electrical conductivity. The results recollected suggest the existence of organic pollution and deep alteration in the water coming out from the sources. In consequence, it seems important the putting out of measures destined to stop those impacts and guaranteeing protection and maintenance of the freshwater springs and their micro-basins.

Avaliação do impacto socioambiental de indústrias têxteis no rio Jundiaí - Macaíba/RN/Brasil

The contamination of aquatic environments is a phenomenon that dates back the origins of human civilizations and was amplified by the advent of industrial processes. The Jundiaí river , Macaíba's main water source, suffering discharge of effluents from various industries. The study work´s in two fronts, the environmental perception front was conducted through semistructured interviews whose textile effluent was appointed by the population as the main problem in the river. It was observed that nearly all respondents had concerns about the environment. In addition, there is an inclusion of individuals as the cause of the problem, because a significant part recognizes that its activities may cause damage to the environment and people's health. In other front, the experimental monitoring of water quality was conducted through ecotoxicological tests and physiochemical analysis that proposed to assess Pomacea lineata .Mysidopsis juniae isolated effect of textile effluent and its influence on the river compared with the limits established by Brazilian law. Although the physio-chemical analysis shows is inconclusive about the participation of the textile effluent in environmental contamination of the river, the ecotoxicological tests have shown to blunt the signal that the effluent may present a risk to aquatic organisms and consequently to human health. Thus, an interdisciplinary way it was possible to study the cause of the environmental problem identified by the population in the realization phase and measurable effect on water quality analysis in the river by means of the tests mentioned.

Satisfação e impacto da saúde oral na qualidade de vida em pacientes reabilitados com prótese total dupla

Introduction: The rehabilitation of edentulous patients is one of the main challenges of Dentistry. Objective: To assess the satisfaction and the impact of oral health on quality of life of patients rehabilitated with conventional complete dentures in both arcades. Method: A clinical trial with 25 patients rehabilitated with CCD was conducted. The impact of oral health in individuals quality of life was evaluated through the Brazilian version of the OHIP-Edent and the patient satisfaction was evaluated using a specific questionnaire. The instruments were applied before and 3 months after rehabilitation. Results: There was a statistically significant improvement (p <0.001) on the impact of the quality of life of the denture users after the new rehabilitation. The analysis of 4 OHIP domains also showed statistically significant improvement (p <0.001). The final overall satisfaction with the dentures was statistically superior to initial satisfaction (p <0.001). The analysis of the specific aspects of satisfaction with CCD after 3 months of rehabilitation also showed significant results in the improvement of every aspect. Conclusion: Patients disappointed with their dentures, have their quality of life improved after the new rehabilitation, reducing the negative impact of the prostheses on oral health, and improving their satisfaction with the rehabilitation.

Mecanismos de transmissão de preços e parcelas de mercado: uma análise sobre as exportações brasileiras de manga

Climate and environmental conditions allowed Brazil to become one of the largest producers of tropical fruits in the world. The São Francisco Valley, over the years, has emerged as the main fruit-producing region of the country, especially mangos and grapes. The mango, which is produced in this region, has reached a good international position, especially in European and American markets. However, the domestic price has absorbed more and more the impact of fluctuations in the international market expectations affecting the production and marketing of producers. The objective of the study is to analyze the transmission ratio of export prices of the mango, with the American market prices and the European Union in the period from 2003 to 2013. It is intended also to analyze the factors affecting the fluctuations of exports Brazilian mango for the main import markets. To achieve the proposed objectives, we used, in the methodology, the autoregressive vector model, in order to find the price transmission mechanism and the mechanisms of impacts through the impulse response function. We also used, the Constant Market Share model, in order to observe the importance of the effects competitiveness, destination, and growth in world trade on the changes of Brazilian mango exports in the period. The data used were obtained from the database of the Ministry of Development and Foreign Trade - MIDIC and FAOSTAT (Food and Agriculture Organization of the United Nations). Among the results, it was found that the Brazilian domestic prices are influenced by the US market price, and that price shocks promoted this market can impact on the growth of the internal prices for several months. It was noted also that the competitiveness effect accounted for the largest portion of the effective growth of Brazilian exports, in other word, the country has improved its competitiveness among the other exporting countries.

Os rumos do fundo público no capitalismo contemporâneo: uma análise sobre o financiamento da Política de saúde no estado do Rio Grande do Norte

This work analizes the financing of Health Policies on the state of Rio Grande Do Norte, starting at the presumption that SUS is “Bombarded” by fiscal ajustments, as a neoliberal strategy to face capital crises.The trafectory of the financing of SUS demands the comprehension of two principles which are, in essence, contradictory: the “principle of universatility”, which is caracterized by the uncompromising defence of the fundaments of the Sanitary Reform, and the “principle of containment of social costs”, articulating the macroeconomic policy that has being developed in Brazil since the 1990s and which substantiantes itself on the 2000s.This last defends the reduction of the social costs, the maintanance of primary surplus and the privatization of public social services. Considering these determinations, the objective of this research constitues in bringing a critical reflection sorrounding the financing of the Health Policies on the state of Rio Grande do Norte, on the period from 2004 to 2012.Starting from a bibliografic and documentary research, it sought out to analyze the budget planning forseen on the Budget Guideline Law (LDO) and on the Multiannual Plans (PPA), investigating the reports of the Court of Auditors of the State of RN and gathering information about expenses with health, available on the System of Information About Public Budgeting in Health (SIOPS).The Analises of the data obtained, in light of the theoretic referece chosen, reveals trends in the public budget setting for health on the State of Rio Grande do Norte, which are: a tiny share of investment expenditure on health, when compared to other expenses, the amount used in daily fees and advertising; the high expense in personnel expenses, especially for hiring medical cooperatives;the strong dependence of the state on revenue transferences from the Union; the aplication of resources in actions of other nature considered as health, in exemple of the expenditures undertaken by the budgeting unit Supplying Center S/A (CEASA) on the function of health and subfunction of prophylactic and therapeutic and on the Popular Pharmacy program. Since 2006, expenses refering to Regime Security Servers (RPPA) on the area of health also have being considered as public actions and services in health for constitutional limit ends, beyond the inconsistencies on the PPAs with the actions performed efectively.

Impacto do Programa Saúde da Família sobre indicadores de saúde da criança em municípios de grande porte da região Nordeste do Brasil

The present study carried out in the context of the Baseline Studies of the PROESF was aimed at evaluating the impact of the Family Health Program (PSF) on indicators for child health in cities with more than 100,000 inhabitants in the Brazilian Northeast. Four cities were investigated. In each one, twenty censual sectors were selected randomly from areas covered by the PSF and compared with twenty sectors selected from areas not covered by the PSF on the basis of socioeconomic criteria. In most cases, no significant differences were found between the areas covered and not covered by the PSF. The only difference found was a significantly lower rate of hospital admissions due to diarrhea but this was on account of the Program of Community Health Agents. The PSF exerted no additional effect on the reduction of this indicator. It was also observed that the way by which the program is implemented in each city interferes directly in the results. Thus, there is no basis for considering the PSF per se ineffective or not differing from other programs with regard to its health care patterns. An evaluation of the PSF would necessarily have to include an analysis of the way the program is implemented and conducted in each case, besides considering its general socioeconomical and political characteristics.

Análise de sedimentos associados à atividade de perfuração na plataforma continental externa, Bacia Potiguar - Brasil

This study was developed in an area located on the outer shelf in the Potiguar Basin, Brazilian equatorial margin; this tropical shelf represents a modern, highly dynamic mixed carbonate-siliciclastic system. Field sampling was carried out during 3 cruises surrounding a shallow-water exploratory well to compare sediment properties of the seafloor, including grainsize, texture, mineral composition, carbonate content, and organic matter. Cruise 1 (C1) was carried prior to drilling, while Cruise 2(C2) and 3 (C3) respectivelly 3 and 12 months after drilling. The sample grid used had 16 stations located along 4 radials from 50 m the well up to a distance of 500 m. Sediments were analyzed in the first 0-2 cm, and 0-10 cm layers. The results show that sedimentary cover around the well is poor to very poorly sorted, with the particle size predominantly in the medium to coarse sand fraction, followed by gravel and mud. The content of calcium carbonate is greater than 96%, associated to bioclastic sediments, and the content of organic matter is less than 12%. Only minor sedimentological variations occured in the area affected by drilling operations. Mainly observed during the second cruise, in terms of a change in grain size distribution associated to an increase in siliciclastic content, This impact occurred in the most surficial sediment (0-2 cm), in the radial closest to the well (50 m), and could suggest the effects of drilling. However, in the third cruise, one year after drilling, the sediments return to show the same characteristics as in the first cruise. These results show no significant sedimentological variations due to drilling activity, and indicate that ocean dynamics in this area was high enough to recover the environment original characteristics.

Análise de sedimentos associados à atividade de perfuração na plataforma continental externa, Bacia Potiguar - Brasil

This study was developed in an area located on the outer shelf in the Potiguar Basin, Brazilian equatorial margin; this tropical shelf represents a modern, highly dynamic mixed carbonate-siliciclastic system. Field sampling was carried out during 3 cruises surrounding a shallow-water exploratory well to compare sediment properties of the seafloor, including grainsize, texture, mineral composition, carbonate content, and organic matter. Cruise 1 (C1) was carried prior to drilling, while Cruise 2(C2) and 3 (C3) respectivelly 3 and 12 months after drilling. The sample grid used had 16 stations located along 4 radials from 50 m the well up to a distance of 500 m. Sediments were analyzed in the first 0-2 cm, and 0-10 cm layers. The results show that sedimentary cover around the well is poor to very poorly sorted, with the particle size predominantly in the medium to coarse sand fraction, followed by gravel and mud. The content of calcium carbonate is greater than 96%, associated to bioclastic sediments, and the content of organic matter is less than 12%. Only minor sedimentological variations occured in the area affected by drilling operations. Mainly observed during the second cruise, in terms of a change in grain size distribution associated to an increase in siliciclastic content, This impact occurred in the most surficial sediment (0-2 cm), in the radial closest to the well (50 m), and could suggest the effects of drilling. However, in the third cruise, one year after drilling, the sediments return to show the same characteristics as in the first cruise. These results show no significant sedimentological variations due to drilling activity, and indicate that ocean dynamics in this area was high enough to recover the environment original characteristics.

Modelagem e análise dinâmica de um sistema de conversão de energia eólica dotado de gerador síncrono de imã permanente utilizando a plataforma ATP

Human development requires a broad balance between ecological, social and economic factors in order to ensure its own sustainability. In this sense, the search for new sources of energy generation, with low deployment and operation costs, which cause the least possible impact to the environment, has been the focus of attention of all society segments. To do so, the reduction in exploration of fossil fuels and the encouragement of using renewable energy resources for distributed generation have proved interesting alternatives to the expansion of the energy matrix of various countries in the world. In this sense, the wind energy has acquired an increasingly significant role, presenting increasing rates of power grid penetration and highlighting technological innovations such as the use of permanent magnet synchronous generators (PMSG). In Brazil, this fact has also been noted and, as a result, the impact of the inclusion of this source in the distribution and sub-transmission power grid has been a major concern of utilities and agents connected to Brazilian electrical sector. Thus, it is relevant the development of appropriate computational tools that allow detailed predictive studies about the dynamic behavior of wind farms, either operating with isolated load, either connected to the main grid, taking also into account the implementation of control strategies for active/reactive power generation and the keeping of adequate levels of voltage and frequency. This work fits in this context since it comprises mathematical and computational developments of a complete wind energy conversion system (WECS) endowed with PMSG using time domain techniques of Alternative Transients Program (ATP), which prides itself a recognized reputation by scientific and academic communities as well as by electricity professionals in Brazil and elsewhere. The modeling procedures performed allowed the elaboration of blocks representing each of the elements of a real WECS, comprising the primary source (the wind), the wind turbine, the PMSG, the frequency converter, the step up transformer, the load composition and the power grid equivalent. Special attention is also given to the implementation of wind turbine control techniques, mainly the pitch control responsible for keeping the generator under the maximum power operation point, and the vector theory that aims at adjusting the active/reactive power flow between the wind turbine and the power grid. Several simulations are performed to investigate the dynamic behavior of the wind farm when subjected to different operating conditions and/or on the occurrence of wind intensity variations. The results have shown the effectiveness of both mathematical and computational modeling developed for the wind turbine and the associated controls.

Impacto do trabalho noturno na qualidade de vida do profissional de enfermagem do gênero masculino

The nursing staff is now the largest contingent of professionals in healthcare environments, with more than 1.8 million professionals, and of these 15% are men, showing a masculinization of the historical profession and culturally conceived and carried out by women (COFEN / FIOCRUZ, 2013). This dissertation discusses the profession forward to some issues related to gender, quality of life and night work. Objective: To analyze the impact that shift work has the professional quality of life male, through a specific instrument to identify the main problems and joint damage to that front group to his professional activity. Methods: descriptivo, Cross-sectional study with a quantitative approach, performed with 72 professional male nursing staff, 41 (56.9%) nursing technicians, 18 (25%) of nursing assistants and 13 (18.1%) of nurses, in January 2015 in a university hospital in the city of Uberlândia (Minas Gerais). For this, we used the WHOQOL-BREF questionnaire. Quantitative variables were described as mean, standard deviation, maximum and minimum, in addition to the Shapiro-Wilk test and Kruskal-Wallis used in the data analysis, with a confidence level of 5% (p <0.05). Results: the profile of respondents, most are married 42 (58.3%) under the employment contract via Single Legal Regime 50 (69.4%) with mean age of 40 and having 16 years of service; and within a range of 0 to 100, the areas with better evaluation were the Social Relations (70.1) and psychological (67.5); already the worst were the Environment (57.4) and Physical (65.4). In the overall assessment, the average was 63.3 and staying below the national average (65-70). Thus, the professionals who were married obtained better scores, regardless of the category which is in the nursing team. Conclusions: The group is average, taking into account the standard deviation, but we can say that working conditions affect their profession, and these results allow the detection of the difficulties experienced by men of the nursing team, and can cooperate with the design strategies that benefit or minimize the search for conflicts that affect the health of these workers and their quality of life.

O impacto dos fatores de escolha na lealdade dos estudantes internacionais mediado pela satisfação: o caso do Politécnico de Leiria

Num mundo cada vez mais globalizado como o de hoje, a internacionalização das Instituições de Ensino Superior tem assumido uma importância estratégica e crescente, não só pela necessidade de preparar adequadamente os seus estudantes para esta nova realidade, como igualmente pelo aumento da competição entre as mesmas. A presença de estudantes internacionais é, assim, uma mais-valia a todos os níveis para as Instituições, pelo que é fundamental não só procurar atrair os melhores, como igualmente garantir que fiquem satisfeitos com as opções tomadas e leais à Instituição escolhida. Foi com o objetivo de conhecer os fatores da satisfação e da lealdade dos estudantes internacionais que esta investigação foi desenvolvida. Assim, com base na informação recolhida através de um questionário numa amostra de 190 estudantes internacionais a estudar no Politécnico de Leiria, efetuou-se o estudo quantitativo, transversal e de natureza conclusiva descritiva, com a finalidade de investigar o impacto dos fatores de escolha e das fontes de informação na lealdade dos estudantes internacionais, mediado pela satisfação com a escolha efetuada. Os resultados da estimação de um modelo estrutural através do “partial least squares” (PLS) evidenciaram que os fatores com maior impacto na satisfação pela escolha efetuada foram: a perceção que têm de Portugal, o ambiente e localização do Politécnico de Leiria e as fontes de informação (em particular as fontes online). As motivações pessoais e a perceção da Instituição não revelaram capacidade para explicar a satisfação dos estudantes, muito embora os mesmos os reconheçam como fatores importantes na decisão de estudar no estrangeiro e no Politécnico de Leiria. Concluiu-se ainda que a imagem corporativa do Politécnico de Leiria influencia a recomendação de terceiros; as caraterísticas de Portugal influenciam a perceção que os estudantes têm do ambiente e localização da Instituição; por sua vez, Portugal e a região onde se situa o Politécnico de Leiria influenciam a sua imagem corporativa; a satisfação e a imagem corporativa do Politécnico de Leiria explicam a lealdade dos estudantes internacionais, medida em termos da intenção de a recomendar a familiares, amigos e conhecidos e de partilhar informações sobre a mesma nas redes sociais. Para completar o presente estudo, foi ainda efetuada uma análise comparativa dos estudantes em função da sua proveniência, tendo-se observado diferenças significativas entre eles. De notar que os estudantes latino-americanos declaram-se mais satisfeitos e com maior propensão para recomendar o Politécnico de Leiria aos seus conhecidos. Com base nos resultados obtidos é apresentado um conjunto de recomendações ao Politécnico de Leiria, úteis para implementar estratégias de marketing e de comunicação mais adequadas à captação e fidelização dos estudantes internacionais e, assim, contribuir para a sua internacionalização.

O impacto da inteligência emocional nas atitudes e comportamentos dos colaboradores

Anos de investigação têm vindo a evidenciar relevantes progressos no que respeita à forma de caracterizar e conceituar um indivíduo inteligente. Com efeito, no contexto profissional, sempre foi atribuído o prestígio aos colaboradores cuja sua qualificação e competência técnica se destacava dos demais. Porém, a evolução das investigações no âmbito da Psicologia Organizacional têm vindo a atribuir, também, especial ênfase ao valor incontornável que a inteligência emocional (IE) acrescenta às organizações. De facto, os colaboradores emocionalmente inteligentes têm a capacidade de se autoconhecer, de conhecer emocionalmente o outro, de gerir e lidar com as mais diversas manifestações emocionais nos mais diversos contextos. Esta capacidade promove agradáveis interações entre colegas, fomenta o espírito e o trabalho em equipa e proporciona um melhor ambiente de trabalho. Reúnem-se, portanto, um conjunto de fatores que apelam à concretização dos objetivos finais da organização. Assim, a qualificação de um colaborador não está somente condicionada à componente prática, mas também à componente emocional. Dada a elevada relevância da IE em contexto empresarial, esta investigação tem como objetivo determinar o seu efeito nos comportamentos e atitudes dos colaboradores. Especificamente, pretende-se analisar em que medida esta diminui os comportamentos contraprodutivos (CCP), fomenta o desempenho individual (DI) e o empenhamento afetivo (EA). Noutra perspetiva, os indivíduos que colaboram com a respetiva empresa por opção própria, e não por obrigação, estabelecem uma relação afetiva com esta, fomentando o sentimento de pertença. Neste sentido, serão estudadas as relações entre o EA e os CCP e o EA e o DI. Em particular, pretendem-se analisar as seguintes hipóteses de investigação: 1) A IE relaciona-se negativamente com os CCP; 2) A IE relaciona-se positivamente com EA; 3) A IE relaciona-se positivamente com o DI; 4) O EA relaciona-se negativamente com os CCP; 5) O EA relaciona-se positivamente com o DI. Apesar de as variáveis em estudo terem sido estudadas anteriormente, estas não foram reunidas num único modelo de investigação. Portanto, o específico conjunto de hipóteses em análise clarifica o contributo inovador deste estudo. Para tal, foi recolhida uma amostra por conveniência composta por 146 indivíduos que operam em vários setores e que trabalham por conta de outrem. Para a análise de dados recorreu-se a correlações e a regressões lineares. Os resultados indicam que a IE está negativa e significativamente relacionada com os CCP e positiva e significativamente relacionada com o EA e o DI. O EA está negativa e significativamente relacionado com os CCP e positiva e significativamente relacionado com o DI. Todas as hipóteses foram confirmadas. As ilações obtidas nesta investigação permitem apelar aos atuais departamentos de recursos humanos a introdução de novas técnicas de recrutamento e seleção baseadas em questões de caráter emocional.

Análise da qualidade do serviço na satisfação do cliente no processo de compra online: estudo de caso Vertbaudet

Nos dias de hoje, uma empresa não pode desenvolver um negócio sustentável limitando-se à oferta de um produto, é necessário compreender que muitas vezes o cliente recorre ao consumo de determinado bem devido ao serviço ao cliente que este tem associado (Grönroos, 2007). As empresas atualmente deparam-se com uma concorrência no serviço ao cliente prestado, sendo que a difusão da informação tecnológica e o aumento do uso de internet oferece às empresas oportunidades de desenvolver a sua oferta de serviço ao cliente e de se diferenciar da concorrência (Grönroos, 2007). Com vista a aprofundar e melhorar o conhecimento sobre o serviço ao cliente e o seu impacto na sua satisfação online surgiu a presente investigação. O objetivo principal da investigação é retratar esse impacto numa empresa portuguesa. Para o efeito foi utilizada a metodologia de Estudo de Caso. Neste estudo é feita uma caracterização da empresa, apresentação e desenvolvimento do conceito de serviço ao cliente e o seu impacto na satisfação do cliente no contexto online. A metodologia usada permitiu aplicar as dimensões da qualidade do serviço em contexto real, analisando o desempenho da Vertbaudet comparativamente aos seus maiores concorrentes: Zippy e Zara Kids. Por fim é descrito o período de estágio que originou o presente relatório, apresentando os objetivos e as atividades desenvolvidas.

Links hipertextuais na comunicação científica: análise webométrica dos sítios acadêmicos latino-americanos em ciências sociais

VANTI, Nadia. Links hipertextuais na comunicação científica: análise webométrica dos sítios acadêmicos latino-americanos em Ciências Sociais. Porto Alegre, 2007. 292 f. Tese (Doutorado em Comunicação e Informação) – Universidade Federal do Rio Grande do Sul. Porto Alegre, 2007.