Análise da sobre-reação e sub-reação nos ativos de primeira e segunda lina do mercado acionário brasileiro

The Behavioral Finance develop as it is perceived anomalies in these markets efficient. This fields of study can be grouped into three major groups: heuristic bias, tying the shape and inefficient markets. The present study focuses on issues concerning the heuristics of representativeness and anchoring. This study aimed to identify the then under-reaction and over-reaction, as well as the existence of symmetry in the active first and second line of the Brazilian stock market. For this, it will be use the Fuzzy Logic and the indicators that classify groups studied from the Discriminant Analysis. The highest present, indicator in the period studied, was the Liabilities / Equity, demonstrating the importance of the moment to discriminate the assets to be considered "winners" and "losers." Note that in the MLCX biases over-reaction is concentrated in the period of financial crisis, and in the remaining periods of statistically significant biases, are obtained by sub-reactions. The latter would be in times of moderate levels of uncertainty. In the Small Caps the behavioral responses in 2005 and 2007 occur in reverse to those observed in the Mid-Large Cap. Now in times of crisis would have a marked conservatism while near the end of trading on the Bovespa speaker, accompanied by an increase of negotiations, there is an overreaction by investors. The other heuristics in SMLL occurred at the end of the period studied, this being a under-reaction and the other a over-reaction and the second occurring in a period of financial-economic more positive than the first. As regards the under / over-reactivity in both types, there is detected a predominance of either, which probably be different in the context in MLCX without crisis. For the period in which such phenomena occur in a statistically significant to note that, in most cases, such phenomena occur during the periods for MLCX while in SMLL not only biases are less present as there is no concentration of these at any time . Given the above, it is believed that while detecting the presence of bias behavior at certain times, these do not tend to appear to a specific type or heuristics and while there were some indications of a seasonal pattern in Mid- Large Caps, the same behavior does not seem to be repeated in Small Caps. The tests would then suggest that momentary failures in the Efficient Market Hypothesis when tested in semistrong form as stated by Behavioral Finance. This result confirms the theory by stating that not only rationality, but also human irrationality, is limited because it would act rationally in many circumstances

Do acesso clássico à comercialização: especificidades do mercado imobiliário informal na área especial de interesse social de Mãe Luiza, Natal/ RN.

This study presents research regarding affordable housing and their effects on the spatial reconfiguration of Natal/ RN, aiming to identify the specificities of the informality of urban land. This study aims to understand how informal housing market operates housing provision for the population located in popular informal settlements, through buying and selling market and rental market of residential properties irregular / illegal. This understanding will be through the neighborhood of Mãe Luisa, Special Area of Social Interest (SASI), located between neighborhoods with a population of high purchasing power and inserted into the tourist shaft of seaside of town. The characterization of informal housing market in Mãe Luiza, from buyers, sellers and renters, will help to understand how these informal transactions operate on SASI and housing provision for public policy development and implementation of housing programs and land regularization for low-income population, adequate to dynamic and reality of housing of informal areas

Estudo da viabilidade do processo de reciclagem do material descartado do sistema Zirkonzanh® de produção de próteses dentárias

At present, the material of choice for performing aesthetic dental prosthetic work is in the ceramic. Among them, the ceramic base of stabilized zirconia with 3% yttria (3Y - TZP) stand out for having excellent physical and mechanical properties. During the machining of blocks of zirconia in the laboratory to prepare the various types of prostheses, much of the material is given off in the form of powder, which is subsequently discarded. The waste of this material results in financial loss, reflecting higher final cost treatment for patients, as well as damage to the environment, thanks to the processes involved in the manufacture and disposal of the ceramic. This research, pioneered the recycling of zirconium oxide powder obtained during milling of dental crowns and bridges, we highlight the social and environmental aspects and aims to establish a protocol for the reuse of waste (powder of zirconia Zirkonzahn® system) discarded to obtain a new block of compacted zirconia to maintain the same mechanical and microstructural properties of commercial high-cost imported material. To compare with the commercial material, samples were uniaxially (20 MPa) and isostatically (100 MPa), and its mechanical and microstructural characterization was performed through tests of density, porosity, dilatometry, X-ray diffraction (XRD), hardness, fracture toughness, resistance to fracture electron microscopy (SEM) and analysis of grain size. The results observed in the samples were isostatically pressed similiares those obtained with samples from the commercial material demonstrating the viability of the process

O gênero geastrum pers. (phallomycetidae, basidiomycota) em algumas áreas de Mata Atlântica e Caatinga no Rio Grande do Norte, Brasil

A taxonomic survey of representatives of the genus Geastrum took place during the rainy season from 2006 to 2009 in four districts in the state of Rio Grande do Norte: Parque Estadual Dunas do Natal (Atlantic Forest), Mata do Jiqui EMPARN (Atlantic Forest) and Estação Ecológica do Seridó (Caatinga). Fourteen species were recorded: G. entomophilum, G. fimbriatum, G. hirsutum, G. javanicum, G. lageniforme, G. lloydianum, G. minimum, G. morganii, G. ovalisporum, G. pectinatum, G. saccatum, G. schweinitzii, G. setiferum and G. triplex. Of these species, eleven occurred in the Atlantic Forest and six in the Caatinga. A new species has been recorded to science, G. entomophilum, other as a first record for Brazil, G. morganii, six new records for the Northeast, and ten new records for Rio Grande do Norte. The material was tumbled in the Herbarium UFRN. Additionally, a survey of the species of the genus deposited in the Herbarium UFRN was accomplished, resulting in 244 herbarium specimens belonging to thirty-three species. Of these ones, twenty-three were collected in Brazil and ten are from Czech Republic, Europe, as donation from the VZ Herbarium

Periurbanização da leishmaniose visceral e emergência da coinfecção HIV/leishimania, no Rio Grande do Norte

Visceral leishmaniasis (VL) has undergone changes in terms of clinical and epidemiological presentation worldwide. Urbanization has been described in different regions of Brazil and the world, as well as in the state of Rio Grande do Norte. These changes have impacted in the clinical outcome of Leishmania infection. A new clinical entity called co-infection of HIV/Leishmania has been described as a consequence of overlapping areas of occurrence of VL and HIV / AIDS in different countries including Brazil. The aim of this study was to define the process of periurbanization of the LV and describe a case series of co-infection HIV / Leishmania in Rio Grande do Norte. A new demographic pattern of VL was detected, with an increase in the number VL adult male subjects. Analysis of spatial distribution of VL in the state of Rio Grande do Norte showed that in the past 20 years VL tends to occur in larger cities and therefore the highest risk disease is greater in the eastern and western regions. The first region included Natal, the state capital, where the process of suburbanization began in 1990, and more recently the city of Mossoró, the second largest state, where periurbanization began in the last five years. In 1990, the emergence of co-infection HIV/Leishmania in the state was observed. Case-control study revealed that the new clinical entity affects adult males, who acquired HIV through sexual intercourse, 40% of those with a preivous history of leishmania infection Relapse and death from LV is increased in HIV positive compared with HIV-negative patients matched by sex and age. This pattern is similar to the observed in Europe, except of the route of transmission, where in Europe occured concomitantly, by parenteral route in drug users. Analysis of spatial distribution identified overlapping new areas of occurrence of HIV / AIDS and LV potentially signaling to increased risk of this new clinical entity as described above. Therefore, epidemiological surveillance for co-infection HIV / Leishmania should be adopted in all areas of risk of VL. At the same time, it is necessary to evaluate drug resistance currently used in the treatment of VL, as well as parenteral transmission of L infantum/ chagasi in areas where drug dependence is a risk factor for HIV acquisition

Proteja e proteje sua carreira: revista você S/A e o mercado de discursos administrativos

The present work aims at investigating the role of Você S/A magazine within the área of administrative discourses. The idea is to investigate the constituting variances in such market, presenting its working logics and its historical pathway that promoted its structure as we nowadays know. Furthermore, thought must be put into considering how the constituting agents of this market legitimize such practice. The understanding of this whole context will allow the explanation of the role of Você S/A magazine in this market and how the magazine is related to other area agents. The work is justified by casting light over a phenomena much neglected by the academy, which is the business press and the dissemination of social stock of knowledge developed from the new administrative discourses. The methodology used was the content analysis on published articles by the magazine, being preceded by the historical backtracking of the structuring of the investigated market. The research took into consideration the following results: the business press, in general, and the Você S/A in particular, presented themselves to be just one more tool for readers to increase their social stock of knowledge, as to be inserted into contemporary organizations. An enormous public arena in which the people interested in the diffusion of certain managing packages may spread such practices and earn economic capital with them

Uma avaliação política da política de avaliação da educação superior brasileira

We had as the problem of analysis in this research: what are the assumptions, principles and general content that based the Sistema Nacional de Avaliação da Educação Superior (SINAES). We started from the hypothesis that the general content of SINAES is essentially based on the assumptions and principles of a control/regulatory perspective of evaluation and a summative epistemology, objectivist and quantitativist, constituted by members who prioritize testing and classification of courses and institutions based on market values. The overall goal was to make a political evaluation of SINAES and the specific objectives were: a) apply the concepts of politics evaluation and meta-evaluation, b) identify the role of international organizations in education reform in the 1990s and its impact on superior education in Brazil c) redeem the concept of evaluation, especially in the field of studies in education; and d) investigate the evaluation policies of Brazilian superior education leading to SINAES. As for the technical procedures for collecting and analyzing data, the research was made with bibliography and documents, considering that it was developed by bibliographic sources and official publications. It was developed by crossing sources: texts or documents remitted to others; it was also concentrated: on the role of international organizations in educational and State reforms (in the 1990s); on the policies of evaluation of the Brazilian superior education (1980s and 1990s); on the proposal of the Comissão Especial de Avaliação (CEA); on the Law No. 10.861/2004; on the documents of CONAES; on the Decree No. 5.773/2006, and the MEC Regulatory Ordinances No. 4/2008 and No. 12/2008. It did not stop in the so called purely technical aspects, but in the ideological field itself. The research found that international organizations, notably the World Bank, played a political, intellectual and financial role determinant to the field of education, a fact that reflects in the legal framework. It was also found that the politics of evaluation of the superior education is historically marked by conflict, represented by two distinct perspectives of different natures and emphases. On one hand, the focus is on control / regulation, favoring efficiency, productivity and competitiveness benchmarking and prioritizing the punctual performance and measurement. On the other, it seeks to transform academic perspective in primarily formative / emancipatory, in order to support more institutional improvement. It was concluded that the CEA presented a conception evaluation predominantly formative and emancipatory, which emphasized the idea of system, centered around the institution and repudiated the rankings practices. In the post-formulation period, however, some of its principles were fragmenting and, gradually, the institution was giving way to the courses and the Exame Nacional de Desempenho de Estudantes (ENADE) grew in prominence. With the creation of the Conceito Preliminar de Cursos superiores (CPC) and of the Índice Geral de Cursos da Instituição de Educação Superior (IGC), it was redemeed the practice of evaluation as measurement and control, under the principles of efficiency and productivity. So, SINAES that seemed like a progressive evaluation method has assumed a setting that close resembles the Exame Nacional de Cursos (ENC-Provão). Nevertheless, the survival of institutional formative evaluation, in the superior education evaluation policies, still an issue in dispute

Mercado de trabalho, ocupações e rendimentos: a Região Metropolitana de Natal na década de 1990

The aim of this study is the labour market at Natal Metropolitan Region with emphasis in occupations and incomes that took place at the nineties. The definition of its chronological boundaries passed by verification of existence of evident socio-spatial impacts for output, occupation and income in national economy, with rebounds in all national territory, conditioned by institutional and socio-economical transformations which marked Brazilian insertion to capital flows and commodities globalization movement that took place at the cited decade. It has been shown that such impacts did not distributed themselves equally between diverse spatial levels (great regions, federate unities, municipalities) because of historical specificities in each place in terms of output structures and organization of distinct social agents. Having as its basis the Marxist perspective, it tackled theoretically occupations and incomes, transformations in labour universe occurred at world level, mainly in most urbanized areas, and following that to focus changes occurred in Brazilian society related to the search for competitive insertion in global economy during the period regarded. Special attention was gave to Natal Metropolitan Region, because it was historically a concentration area for investments, productive structure, people, occupations and incomes generated/appropriated in Rio Grande do Norte State. The basic data sources for research were the demographic Census (micro data) made by the Instituto Brasileiro de Geografia e Estatística (IBGE) intending to present the structure and the labour market dynamics, having as basis: 1) traditional indicators about labour market; 2) sectors of economic activities and 3) social positions and classes segments. One of the purposes is the demonstration that occupations and incomes keep relation with the restructuring which occurred in each specific sector during the period. Other purpose is to make explicit the factors which bear the participation of distinct segments in production or service execution that make possible the different participation in income distribution. Results are revealing the increasin precariousness in labour market, enlargement of occupations in tertiary sector and greater concentration of average incomes in the social segments which were owners of the greatest capital allowances between residents in Natal Metropolitan Region during the nineties

O amor em tempos de internet: as expectativas amorosas na rede social Badoo

This research aims to examine the phenomenon of sexual relations by observing the Social Network Badoo. As a means to achieve this objective, qualitative in-depth interviews were conducted online. The main question is to understand how the amorous expectations in the liquid modernity are configured. Added to that, there is as analysis categories the insight about relationships and the love experiences provided by the use of the Social Network Badoo. There are three initial hypotheses: 1) a time of transition is experienced, in which the liquid love in the proposed terms by Bauman (2004) was gaining ground and, as consequence, the relationships would be presenting themselves shorter, more open and with another interactive proposals for the relations. 2) The consuming practices of the liquid modernity can interpellate the relational practices molding them according to your logic. 3) It is assumed that the reasoning, inherent to the market, of the use followed by the disposal settles itself in the social behavior and this practice is accentuated by technology, through the use of the internet for the establishment of romantic relationships.the empirical analysis shows that both the vision on relationships as the amorous expectations in liquid modernity have as references the model of solid loving relationship, inherent to the traditional modernity. However it also demonstrates that the romantic experiences and practices refer to the liquid relationship model. Therefore, from these statements it is argued that there is in liquid modernity the cohabitation of the liquid and solid models of romantic relationships. In summary, this research aims to understand the contemporary love relationships across the spectrum of relationships that develop on the Internet Social Network: Badoo

Cidades e turismo sustentável:a cooperação interinstitucional no Conselho de Desenvolvimento do Turismo do Pólo Costa das Dunas/RN

It treats tourism as part of the places urban development dynamics and the touristic urbanization process as a strategy of cities international competitiveness strengthen, detaching institucional agents role as promoters of this process. It aims to understand how happens the interinstitucional cooperation existing between the agents (Estate, private initiative and third sector) that composes the Development Council of Pólo Costa das Dunas/RN, littoral potiguar region, where are invested the resources deriving from the Program of Development of Tourism in the northeast of Brazil (PRODETUR/NE). Making use of economy referencials, urban sociology and urban geography, as a possibility of a more consistent theoretical construction, capable to accomplish the sustainable development and sustainable tourism concepts amplitude, this work brings out an experience of interinstitucional cooperation, where it glimpses itself the possibility of implementation of a alternative development model, based on the sustainability principles

Estrutura econômica, mercado de trabalho e evolução sócio-ocupacional no Rio Grande do Norte 2001 a 2008: reflexo de uma condição mercantil e estruturalmente periférica

The aim of this thesis was to investigate the evolution of the socio-occupational status in Rio Grande do Norte from 2001 to 2008, based on the characterization of the socio-economic status of this State from the analysis of labor market norte-rio-grandense . The study, specifically, drew a comparison between the dynamics of the labor market in Rio Grande do Norte and the capital city, Natal. From this perspective, the purpose was to make a relationship between the social division of labor and its effects on the socio-spatial division, represented in the "macro scale" by the federal unit and the "micro level" for the capital; locus of economic and population concentration. The collection of data on the labor market had as a major source PNAD/IBGE, characterizing the labor market in many ways: people of working age, economically active population and employed and unemployed people, classified by age, sex, color, education, income and social protection condition. However, as for the socio-occupational division, we follow the methodology used by the research group on national television, based in IPPUR /UFRJ, called Monitoring of the Metropolis," which rallied twenty-four groups that aggregate the occupations found in the PNAD/IBGE, in eight groups of socio-occupational categories, according to the similarity between them. It was used in the socio-spatial cutting two relevant discussions, which are inter-related and were characterized as crucial points in developing the research problem: the former was related to the influence of the hegemony of merchant capital in the labor market in Rio Grande North and, the latter, it referred the socio-economic relations between the territory and the variable occupation. Lastly, the results all indicated that in Rio Grande do Norte, as a peripheral state, has suffered the devastating influence of the hegemony of capital purely commercial basis, where "wealth" of capitalism is generated through the sphere of mere movement of goods and services rather than a productive process due to the social relations of production more advanced. We have a little advanced economic structure, with a tertiary sector that has propagated under-employment or disguised unemployment. Similarly, the agricultural sector has been presented as an example of greater social degradation of working conditions in the state. The secondary sector, in turn, also was not behind this uncertainty; on the contrary, confirmed that condition, with poor levels of income, low education of the workforce and a high degree of social helplessness, even in the state capital, space full urban area, which although always appear with a favorable condition compared to Province, in practically most of the variables studied, was also reflected at the same time the author of a structurally underdeveloped condition

A casa própria: sonho ou realidade? : um olhar sobre os conjuntos habitacionais em Natal

This dissertation is about housing provision under a capitalist system. It aims at analyzing the economic relevance of the Brazilian housing policy, in particular, looking at the housing estates built in Natal city. It also draws on a data-base about living and housing conditions in Natal, produced in the wake of a more comprehensive research of the 50 largest housing estates in the city. Theoretically, the dissertation discusses: the symbolic dimension of housing; housing as a commodity; the alleged social and economic stability of homeownership; and the urban dynamic of housing estates. It also discusses the historic and conceptual references of the Brazilian housing policy and its consequences to Natal city. From the 1960s, polilcy under the BNH privileged the production of large housing estates. Although this was more closely related to economic rather than social objectives, this policy helped expand the urban limits. This was the case for Natal. At the end, this policy was not targeted towards the poorest in society but towards those low income house buyers who could afford to pay for the mortgages on offer

O Trabalho e o labirinto da responsabilidade socioempresarial:a experiência da cidadania empresarial do Banco do Brasil

In the current systemic crisis, economic policy is directed to correct the consequences of the functioning of this metabolism, but within the limits of the capital. From this perspective, decision makers propose trade policies, agricultural and industrial to ensure conditions for economic growth. However, as a dead end, there is failure of the State in giving efficacy to the operation of all segments of the economy, especially given the budget constraint. Public managers are forced to seek external resources, resuming the cycle of political allegiance to the interests of international financial and banking representatives, installed in so-called multilateral. The complex ideological capital comes into play in trying to convince society that the paths taken by governments are inevitable, and that capitalism can be "humanized", even with the realization of the growing inequalities caused by historical irrationalism of the production process of capital . In this sense, emerging concepts that attempt to demonstrate the compatibility of the system to real human needs. This ideological offensive is intended to legitimize the capital. The so-called third sector has a special highlight with the concept of corporate social responsibility. It creates a political environment in which the inevitable mix-up with new illusions offered by and often funding the metabolism of capital in order to perpetuate this system. In this context, political elites, and considerable portions of the academy, embark on "waves of capitalist optimism," while the sociometabolismo capital expands its historical limits, driving forces postponing their collapse, but that cause human suffering and ecological stress. Wars are disseminated to strengthen the deadly war industry and the automobile industry; and devastating the environment of which depends the capital system. In this scenario disassemble, propositions emerge around a "new social pact" in order to minimize the adverse effects of the dynamics of reproduction of capital. The business class is called to exercise its role through the discourse that appeals to social responsibility programs, in order to intervene directly in the "social question". The core of this research is precisely this point. Although there is considerable scholarship on the phenomenon of Social Responsibility and Corporate Citizenship, there is also an evident lack of this approach focused on the banking sector in Brazil. The importance of rentier capital increased ownership of shares in the wealth produced by all of Brazilian society, justifies a sociological research project on Social Responsibility in the domestic financial sector. In this sense, it was decided to perform a dynamic approach to the "Corporate Citizenship" in the banking industry, specifically in the Bank of Brazil. As this is a key institution, is important analyze of the impacts of this strategy fetish of capitalist reproduction, in order to evaluate the social legitimization of rentier capital in Brazil. In this scenario of the abundance of the discourse on social responsibility there exist a progressive impoverishment of professional work in this segment in Brazil. There is a dramatic mismatch between rhetoric and practice because of the trend of deepening vulnerability of the working conditions of the Brazilian bank worker, from the 1990's. In the specific case of the Bank of Brazil, the first initiative of the institution was to conform to the principles of the UNO and the Ethos Institute, aiming to align their domestic policies to this new strategy of domination of capital. The purpose is to place the Bank in the ideological sphere of corporate social responsibility, just as with its partners in the private financial intercapitalist competition. Indeed, in the internal ambit of the Bank of Brazil, there is a policy to adjust its functional segments to the doctrine of Social Corporate Responsibility. The concepts of this doctrine is presented as something inexorable. There are no alternatives. The Bank of Brazil operates in a highly competitive market, the segment featuring the dominance of financial capital accumulation today. For this reason it can not fail to incorporate the technological advances organizational. For employees there is no alternative but to adapt to this new set of ideas proposed by the metabolism of capital

Reinvenção da cidade, produção fílmica e visibilidade sociocultural: o uso do território na roliúde nordestina - Cabaceiras - PB

Conselho Nacional de Desenvolvimento Científico e Tecnológico

A alteração do tipo penal de adulteração de combustíveis: reflexo da constitucionalização do direito penal no mercado de combustíveis

The neoconstitutionalism led to a process of ethical revaluation of the normative systems and the process of constitutionalization of the many fields of law. This study examines the consequences of this process in criminal law, so important a Law field for the protection of the most valuable assets by the society, including the fundamental guarantees, thus emphasizing the necessity of protection of the collective and individual rights, which are guided by the observance of the defendants individual rights in the course of criminal proceedings and the search for the best efficiency of penal protection, according to the corollaries of defense against the state (prohibition of the excess or Übermassverbot) and the provision of rights by the state (prohibition of insufficient protection or Untermassverbot). The offense of fuel adulteration is taken as an object of study, since it is a vital market to a nation dependent of people and good s movement for their living, driven by fossil and biofuels. Such a crime affects essential legal interests to the development of society, interests such as the environment, consumer relations and economic order, particularly the principle of free competition. This paper seeks to analyze the need of a greater efficiency of this particular criminal protection, once concluded the conduct harm and social fear as a consequence by it as growing, and therefore having its former crime type, engraved in Article 1 of Law No. 8.176/1991, rewritten in compliance with the criminal law s principle of legality. Thus, the reformation proposals and legislative creation involving this crime were observed, with emphasis on the bill No. 2498/2003, which keeps it as blank heterogeneous criminal norm, kind of penal normative whose constitutionality is raised, including the forethought of criminal responsibility in the perpetrating of the offense as culpable and subsequently increasing the applicable minimum penalty, as well as the inclusion of new activities in the typical nucleus