Stakeholders Theory and Theory of the Firm: a study on the hierarchy of objective-functions in Brazilian companies

Discussion opposing the Theory of the Firm to the Theory of Stakeholders are contemporaneous and polemical. One focal point of such debates refers to which objective-function companies, should choose, whether that of the shareholders or that of the stakeholders, and whether it is possible to opt for both simultaneously. Several empirical studies. have attempted-to test a possible correlation between both functions, and there has not been any consensus-so far. The objective of the present research is to examine a gap in such discussions: is there (or not) a subordination of the stakeholders` objective-function to that of the shareholders? The research is empirical,and analytical and employs quantitative methods. Hypotheses were tested and data analyzed by using non-parametrical (chi-square test) and parametrical procedures (frequency. correlation `coefficient). Secondary data was collected from he Economitica database and from the Brazilian Institute of Social and-Economic Analyses (IBASE) website, relative to public companies that have published their Social Balance Statements following the IBASE model from 1999 to 2006, whose sample amounted to 65 companies; In order to assess the objective-function of shareholders a proxy was created based on the following three indices: ROE (return on equity), EnterpriseValue and Tobin`s Q. In order to assess the objective-function of stakeholders a proxy was created by employing the following IBASE social balance indices: internal ones (ISI), external ones (ISE), and environmental ones (IAM). The results have shown no evidence of subordination of stakeholders` objective-function to that of the shareholders in analyzed companies, negating initial expectations and calling for deeper investigation of results. Its main conclusion, which states that the attempted subordination does not take place, is limited to the sample herein investigated and calls for ongoing research aiming at improvements which may lead to sample enlargement and, as a consequence, may make feasible the application of other statistical techniques which may yield a more thorough, analysis of the studied phenomehon.

Modeling of columnar-to-equiaxed transition in solidified Al-Si alloys

A Cellular-Automaton Finite-Volume-Method (CAFVM) algorithm has been developed, coupling with macroscopic model for heat transfer calculation and microscopic models for nucleation and growth. The solution equations have been solved to determine the time-dependent constitutional undercooling and interface retardation during solidification. The constitutional undercooling is then coupled into the CAFVM algorithm to investigate both the effects of thermal and constitutional undercooling on columnar growth and crystal selection in the columnar zone, and formation of equiaxed crystals in the bulk liquid. The model cannot only simulate microstructures of alloys but also investigates nucleation mechanisms and growth kinetics of alloys solidified with various solute concentrations and solidification morphologies.

Religions and cultures: Religious dynamics in Latin America

The author seeks to analyse the relationships between religion and culture in Latin America, especially in Brazil, highlighting the fact that the different religions enjoy diverse relationships with culture in a single location. He also addresses the fact that religions interpret culture in different ways and these interpretations help define their conversion strategies and how best to confront opposing religions. For the sake of discussion, the author considers, hypothetically, a not-so-distant future in which Latin America becomes predominantly evangelical, and asks what will happen to Latin America`s supposed Catholic culture if the evangelical religions do indeed take over.

Rationalization, Kunstwollen and technical means of expressivity. The example of the romantic piano

This article seeks to retrace some of the empirical, historical and sociological elements of Max Weber Sociology of music. Even if he is first and foremost interested in the process of rationalisation throughout western civilisation, his Sociology of music is founded on the idea of the technical medium, which he explores in several different directions. This idea will be examined here by means of several examples drawn from western music, particularly from the romantic piano repertoire.

Florestan Fernandes and Interpretations of Brazil

Essays that became known as ""interpretations of Brazil"" appeared mostly between the proclamation of the Republic in 1889 and the spurt in academic life in the 1930s and later. These essays sought an overall analysis of Brazil. However, as universities developed, works of this kind began to lose ground to monographs with more circumscribed aims. The sociologist Florestan Fernandes greatly influenced this development, but his last important work, A revolucao burguesa no Brasil (The Bourgeois Revolution in Brazil), written after the military coup of 1964, differs from his other works, as is indicated by its subtitle, ""an essay of sociological interpretation."" On the one hand lies the ""essay,"" on the other the ""sociological interpretation."" The former allows him to ""interpret Brazil,"" but he does so with the eyes of a sociologist. Establishing a dialogue between A revolucao burguesa no Brasil and other interpretations of Brazil such as those of Prado Junior, Vianna, Buarque, and Freyre reveals the significance of this distinction.

O ACERTO DE CONTAS DE DIDEROT COM O CETICISMO

RESUMO: Este artigo é o segundo de uma tríade que trata do diálogo, mais precisamente do envolvimento, entre a filosofia de Denis Diderot e o ceticismo. O primeiro artigo, intitulado “O jovem Diderot e o ceticismo dos Pensamentos”, foi publicado na revista Dois Pontos, em sua edição dedicada ao tema do ceticismo (cf. PIVA, 2007), e limitou-se a uma análise minuciosa do problema da postura cética nos Pensamentos filosóficos, de 1746. O presente artigo, por seu turno, examina duas questões fundamentais, desta vez em O passeio do cético ou As alamedas, de 1747, último livro em que o ceticismo é evocado com destaque pelo enciclopedista, dois anos antes de ele render-se definitivamente ao materialismo ateu: 1) a interpretação que Diderot desenvolve do ceticismo e 2) sua posição diante dele. Já o terceiro e derradeiro texto da tríade examinará – evidentemente, numa próxima oportunidade – a presença do ceticismo no pensamento diderotiano da maturidade, ou seja, no período que se inicia em 1749, com a redação da Carta sobre os cegos, quando a questão da dúvida cética passa a perder em suas obras a relevância que tinha na origem de suas reflexões, mudando, até mesmo, de registro.

Locke, on freedom and will

This article aims to discuss Locke`s compatibilism, that is, the lokean thesis that freedom is compatible with the natural necessity. To this end, it is analized the chapter Of The Power (XXI, book II of the An Essay concerning Human Understanding), in which Locke clarifies the concepts of freedom and will. Although Locke, at times, involves himself with the incongruent thesis on compatibilism, he is a compatibilist. The impression that Locke would defend incompatibilists` theories ends up being abandoned when we analyze carefully his general argument about will and freedom. Locke literally defends that the volunteer does not differ from the necessary. As a compatibilist, Locke maintains that will is not free. Thus, the free man can not be the one that is free to want. A man regarded as a free agent is the one that has freedom of action, not freedom of will.

Bernard Michael Bindon - reproductive physiologist, animal scientist, research leader

This paper is a foreword to a series of papers commissioned on 'the impact of science on the beef industry', where the Beef CRC-related collaborative scientific work of Professor Bernard Michael Bindon will be reviewed. These papers will be presented in March 2006, as part of a 'festschrift' to recognise his wider contributions to the Australian livestock industries for over 40 years. Bindon's career involved basic and applied research in many areas of reproductive physiology, genetics, immunology, nutrition, meat science and more recently genomics, in both sheep and cattle. Together with his collaborators, he made large contributions to animal science by improving the knowledge of mechanisms regulating reproductive functions and in elucidating the physiology and genetics of high fecundity livestock. His collaborative studies with many colleagues of the reproductive biology and genetics of the Booroola Merino were amongst the most extensive ever conducted on domestic livestock. He was instrumental in the development of immunological techniques to control ovulation rate and in examining the application of these and other techniques to increase beef cattle reproductive output. This paper tracks his investigations and achievements both within Australia and internationally. In the later stages of his career he was the major influence in attracting a large investment in Cooperative Research Centres for the Australian cattle industry, in which he directed a multi-disciplinary approach to investigate, develop and disseminate science and technology to improve commercial cattle productivity.

Bile duct ligation in neonatal rats: Is it a valid experimental model for biliary atresia studies?

BA is the most important disease requiring liver transplantation in children. Common BDL in rats is a classic experimental model to study biliary obstruction. The response of the neonatal animal to BDL has yet to be completely understood and few reports have focused on the behavioral differences of the liver between neonatal and adult animals. Ninety newborn Wistar rats aged six days, weighing 8.0-13.9 g, and 90 adult Wistar rats weighing 199.7-357.0 g, were submitted to BDL. After surgery, they were randomly divided and killed on the 3rd, 5th, 7th, 14th, 21st and 28th day post-BDL. Hepatic biopsies were obtained and the following were measured: (i) semiquantification of the bile ductule proliferation and inflammatory infiltrate by HE stain, (ii) quanti. cation of portal and periportal fibrosis with the Sirius-red stain. Although the initial response of ductule proliferation and inflammatory infiltrate were less intense in the newborn animal, the portal and periportal fibrosis were higher when compared with adult animals (p < 0.0491). These findings may contribute to the understanding of the pathophysiology of BA.

Numerical simulation of dendrite growth during solidification

A comprehensive probabilistic model for simulating dendrite morphology and investigating dendritic growth kinetics during solidification has been developed, based on a modified Cellular Automaton (mCA) for microscopic modeling of nucleation, growth of crystals and solute diffusion. The mCA model numerically calculated solute redistribution both in the solid and liquid phases, the curvature of dendrite tips and the growth anisotropy. This modeling takes account of thermal, curvature and solute diffusion effects. Therefore, it can simulate microstructure formation both on the scale of the dendrite tip length. This model was then applied for simulating dendritic solidification of an Al-7%Si alloy. Both directional and equiaxed dendritic growth has been performed to investigate the growth anisotropy and cooling rate on dendrite morphology. Furthermore, the competitive growth and selection of dendritic crystals have also investigated.

Idiopathic spinal epidural hematoma in patients with sudden paraplegia: A case report

Introduction. Spontaneous spinal epidural hematoma (SEH) represents 0.3-0.9% of spinal epidural space-occupying lesions, and most surgeons advocate aggressive and early surgical intervention. In. this paper we describe a patient with SEH with sudden paraplegia. Case report. This 30-year-old man had experienced one prior episode of sudden dorsal pain two days before the current admission and while he waited medical attendance, his legs suddenly became weak, and immediately afterwards, he became completely paraplegic in minutes. The patient had complete paraplegia, analgesia below the T4 level and urinary retention. He had no anticoagulant agent and no coagulopathic disease. He was submitted to computerized tomography that demonstrated a dorsally located epidural hematoma extending from the T3 to the T6 level with spinal cord compression. A laminectomy from T3 to T7 was performed four hours after the onset of the symptom. In postoperative time the patient presented the partial sensorial recovery and motor force grade II. The patient was directed to a neurorehabilitation program and in the last medical evaluation he presented recovery for motor grade III-IV without pain. Conclusion. The SHE is rare, with severe neurological consequences for patients and early surgical treatment persist as essential for motor recovery.

Resonance fluorescence spectrum of a two-level atom driven by a bichromatic field in a squeezed vacuum

The steady-state resonance fluorescence spectrum of a two-level atom driven by a bichromatic field in a broadband squeezed vacuum is studied. When the carrier frequency of the squeezed vacuum is tuned to the frequency of the central spectral line, anomalous spectral features, such as hole burning and dispersive profiles, can occur at the central line. We show that these features appear for wider, and experimentally more convenient, ranges of the parameters than in the case of monochromatic excitation. ?he absence of a coherent spectral component at the central line makes any experimental attempt to observe these features much easier. We also discuss the general features of the spectrum. When the carrier frequency of the squeezed vacuum is tuned to the first odd or even sidebands, the spectrum is asymmetric and only the sidebands an sensitive to phase. For appropriate choices of the phase the linewidths or only the odd or even sidebands can be reduced. A dressed-stale interpretation is provided.

Breast cancer five-year survival, by New South Wales regions, 1980 to 1991

Breast cancer five-year relative survival was calculated for 16 urban and rural regions in New South Wales (NSW) for cases incident in 1980-1991. Survival analysis employed cancer registry data linked with the death register, and age- and period-matched regional mortality of NSW women, Proportional hazard regression analysis was used to compare excess mortality in breast cancer cases in each region. The effect of region was significant (P < 0.05) in the analysis, after age and the follow-up variable (and their intel action) were adjusted for, although no region was significantly different from the referent group (chosen because of average relative five-year survival). When degree of spread and its interactions were entered into che model, the effect of region became nonsignificant. A significant linear trend (P < 0.05) in the adjusted relative risk for excess mortality in breast cancer cases was noted when regions were divided into quartiles based on socioeconomic status, with higher relative risk in low-socioeconomic-status groups; this effect also disappeared with adjustment for degree of spread at diagnosis. There was no general effect of rurality versus capital city or other metropolitan centres. This study demonstrates a small effect of region of residence and implied socioeconomic status on breast cancer survival in NSW women, but this becomes nonsignificant when the data are adjusted for degree of spread at diagnosis, This suggests that earlier diagnosis would he of benefit in reducing minor inequalities in breast cancer survival in NSW women.

Ideal soliton environment using parametric band gaps

Simultaneous solitary wave solutions for laser propagation in nonlinear parametric media with up to (3 + 1) dimensions are proved to exist. The combination of the large dispersion of a Bragg grating and the strong nonlinearity of chi((2)) optical material results in stable behavior with short interaction distances and low power requirements. The solutions are obtained by using the effective mass approximation to reduce the coupled propagation equations to those describing a dispersive parametric nonlinear waveguide, and are verified by solving the complete set of coupled band-gap equations numerically.