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

Uma cidade para pessoas: funcionalidade, racionalidade e emotividade nas relações mobiliário urbano, espaço público e cidadãos

This research investigates how functionality, rationality, and emotionality applied to urban furniture design contribute to the organization, legibility, and qualification of public spaces, according to different layouts, physical and visual qualities of the urban furniture as well as the quality of urban infrastructure that may influence the uses and appropriation of urban spaces by pedestrians, turning those spaces into socially centripetal or centrifugal places. The work consists of two parts. First refers to a bibliographical review concerning two main issues of the investigation: product design and legibility of public space, defining the conceptual and theoretical bases, linked to methodological strategies aimed at systemic planning and integrated management of urban furniture design and legibility of public spaces (sidewalks), that are necessary to define the existing relationships among the user s interface (pedestrians); product (urban artifacts); built environment (sidewalks). The second part refers to the achievement of empirical approach throughout visual analysis of public spaces and the functional and qualitative evaluation of the existing urban furniture in the central neighborhood of Cidade Alta, Natal, RN, according to the theoretical researched concepts and methodological procedures. The results expose the weaknesses and levels of intensity arising from the relations among public space, urban furniture, and users, revealing the need for theoretical and practical approaches which would help the decision-making in planning, designing and integrating innovative, sustainable, and ethical solutions in order to design attractive public spaces that could provide sociability and citizenship throughout integrated public management, city systemic thinking and urban identity. The suggested guidelines at the end of this research will provide the necessary strategies to design suitable urban furniture systems according to aesthetic and practical urban infrastructure and city context, aiming to ease visual and physical conflicts that may negatively interfere with the appropriation of public spaces by the citizens

UBS RN-7: proposta arquitetônica para um padrão flexível de unidade básica de saúde para a zona bioclimática 7 do RN, com ênfase na sustentabilidade ambiental

Standardization and sustainability: these two apparently antagonistic words find the challenge of uniting in a flexible architectonic proposal. This was the idea that motivated the proposal of this assignment, whose appearing is bound up with the necessity of thinking about standardized spaces that attend on functional criterias and environmental sustainability, in reply to an existing real demand. The assignment consists of an architectonic proposal for a flexible standard of a Basic Unit of Health for the bioclimatic zone 7 of RN (UBS RN-7), with emphasis in the environmental sustainability. The project contemplates innumerable involved variables, such as: obedience to the current law of the Health Ministry for the UBSs; formal/aesthetic aspects; criterias of expansiveness of the UBS I for the UBS II; relative aspects to the constructive rationality and, mainly, sustainability aspects. With the intention to unite the variables and, also, glimpsing a proposal that could reach a good functional performance, aesthetic, of environment comfort and energetic efficiency, it was also necessary to consider concepts about the flexibility of the envelopment. The elaboration of the architecture first draft was based on bibliographical research, conceptual studies and references, elaboration of the architectonic program and the draft development for the UBS port I and the UBS port II. To the end, an implantation data sheet for the project is proposed for the UBS standard project, where strategies of thermal isolation, shadowing and thermal inertia are adopted and combined to three possible types of lot, resulting in 24 possibilities of implantation

A dimensão simbólica e midiática da política e a história da dona de casa que virou guerreira : a construção da imagem pública de Wilma de Faria em 2002 e 2006

This paper examines two aspects. First, the symbolic dimension of politics and some of the elements that make up this universe, as the scenario, the representation, the myth, the spectacle, the media and the political and electoral marketing. We assume that the policy brings together a set of traits related to both reason and the human subjectivity, and can not be summed up in just a few calculations based on rationality. In the case of elections, in a process (ritual, according Irlys Barrier) of choice, there is a meeting of two systems of representations: to that transmitted by a political actor, in a scene from a particular context, based on a life trajectory unique, and the other from the public, crossed by social relations, situations own wishes, desires, expectations and unique perspectives. Between them there are the means of mass media (especially television), and with them the advent of language media and advertising applied to politics, changing the layout of public visibility and inaugurating what Rejane Accioly Carvalho will call the "aesthetics of mostrabilidade". This does not necessarily mean a preponderance of media on politics as a whole but only its adaptation to that with regard to contact with the public, the ad extra portion of the policy, according to Wilson Gomes. In a second aspect, try to apply these elements to a specific study to verify them in building an effective public image, in this case, the current governor of Rio Grande do Norte, Wilma de Faria. The concept of public image is from the book of Wilson Gomes The transformation was visible in the mass media, and relates to a conceptual image to fix "personality traits" through political history, personal conduct, action of image makers and the public reception. For this we will review some videos aired on Free Time for political propaganda in the years 2002 and 2006.

Break: o grito corporal da periferia

In order to question a sociology as it considers appropriate the body dimensions, which contributes in a mean singular in relation to body, not only as a matter, but mainly as a producer of knowledge, our research shows a reflection on corporality as the production of knowledge and to understand different perspectives and social logic here in contemporaneity, whose rationality seems to be placed in question through a performance expressed, a lot of 'breaks', including the space, which the dancer break appropriates of a reversed form and not more than linear. Our problem is the possibility of a greater understanding of this young body with dance the break, is not only 'breaking' his body, but fluent in their own body fragments, producing probably a break in relation to a dominant power established, by creating a kind of 'social resistance' to provide another sense for his life, out of the senses by the dominant of a social field. This is the area of production of knowledge, of the 'body' that cries keep our eyes, the challenge of dive in the depth of gestures, beyond the physical structure, restoring in a strong political constitution and cultural in so far as this body faces. The body as spectacular becomes 'cause and effect' of communication, this body is not only individual, it is not expression only for itself; when the young dance outside their walls individuals, makes it relational, turning to relate with the other, with the space, time and the world. The methodological point of view, to study this corporality in element break, the body as language of senses, we considered withdrawals in the field, observations of movements of the universe of break creative dance, performance and analysis of "attitudes" (expression peculiar world hip hop ), as well as my experience with dancing in the street interventions through 'urban' and our own attitudes to the object of research which challenges us academically and, it all, existentially

Redes sociais e a lógica do desvio comportamental em relação às normas de trabalho

This paper aim to check a hypothesis that assumes several behaviors related to social work norm´s obeying as a phenomenon that can be explained by actor´s social network structure and the rational choice processes related to the social norm inside that network, principally the payoff´s analysis received by the closest actors, or neighbors, at a social situation. Taking the sociological paradigm of rational action theory as a basis, the focus is on a debate about the logic of social norms, from Émile Durkheim´s method to Jon Elster´s theory, but also including social network analysis´s variables according to Robert Hanneman; and also Vilfredo Pareto´s constants related to human sociability, at the aim to detect elements that can help the scholars to develop an agent based model which could explain the sociological problem of deviance by a better way than the common sense´s view about morality and ethics at a social work environment

Entre a vida e a obra: música e religião em Max Weber

This study aims to analyze the relationship between music and religion in Max Weber s life and work, in a perspective that combines its intellectual productions in Sociology, in religion and art subfields. We developed a research in order to revisit the concept of rationalization, present in Weberian thought, and also to discuss how music and religion, as distinct spheres of life, star conflicts and alliances and build particular attitudes of action in the world, having the appearance of a rationality based on calculation in a central position to understand the construction of musical technique in the West and the autonomy of aesthetic enjoyment from religious enjoyment, previously linked. Regarding the procedure analysis, we built a symbolic cartography, according to Santos (2000), from selected works of Max Weber, as Religious rejections in the world and their directions (1982), among others. With the activity, we identified similarities and differences between music and religion in the author thoughts. We consider that the studied dimensions are important in Weberian analysis of the constitution of modern society and its cultural system, showing two distinct approaches to the issue of rationalization in the West

Narrativas do Brasil nas memórias de Pedro Nava

This thesis is a translation of work of the Brazilian doctor, Pedro da Silva Nava (1903-1984), in particular, his memoirs and chronicles, articulated with the writings of medicine history, aiming to defend that the autobiographical narratives are sources of research capable of promoting discussions on the expansion of the present at the confluence of complex and unequal society in constant changing process as the Brazilian. The theoretical and methodological support circulates around studies, proposals and thesis by Boaventura Santos about empowering past, destabilizing subjectivity, sociology of absences, cosmopolitan reason and translation work. The empirical support drawn from the literature produced by Nava were analyzed with reference this reasoning and studies that have facilitated the flow of translation among others, the studies of Antonio Candido, Arrigucci Jr., Boris Cyrulnik, Beatriz Sarlo, Ecléa Bosi, Ítalo Calvino, José Willington Germano, José Maria Cançado, Lev Vygotsky, Marilena Chauí, Paul Ricöeur and Walter Benjamim, without neglecting what we consider indispensable to scientific research, the production of relevant knowledge and prudent, in view of a decent life. The initial inflections reflect the subject of the Memoirs and its education/training, to then place the Memoir subject in the literary context, scientific, historical and Brazilian poetic (1972-2010), bringing great interpreters and discussing the rationale used by the Narrator that we defend stand closer to the cosmopolitan, showing the formation of narratives whose presence insert itself beforehand to modernist verve, linked to the discursive array against the literature as domination space, disseminated in Brazil in the early twentieth century. So, it articulate with those in which the concerns adjust the construction of the social formation of Brazil as a national heritage through literary narrative that focuses on a historical principle that becomes the past empowering, allowing his rereading, whose converge to memory, the lifestyles, the plurality of language and Brazilian culture, formed by several people, converging into a design not of culture but multiculturalism in Brazil. The memory issue was addressed in the space-time of experiences of being that narrates, shaped by a destabilizing subjectivity that sought to order the testimony of a time, a history and society, retelling them by creative imagination, almost fictional, to make circulate his knowledge about Brazil attached to his medical knowledge, as well as other subjects in his living group and other groups with whom they maintained contact. Thus, he portrayed both tangible and intangible cultural assets of the country as a form of preservation, giving them meanings and sense. It approaches, therefore, from the perspective of sociology of absences, the expansion of the present and by the logic inherent in his narratives of self and Brazil

Corpo e gestualidade :o jogo da capoeira e os jogos do conhecimento

In the direction of questing a sociology that considers the flesh dimension of the existence, that favors to think the body while place of the production of the knowledge, our itinerary of research is characterized for the reflection on the gesture of the body as power of life and production of knowledge, recognizing the precision of the gesture as a privileged breach of comment of the collective life, of the projection and registration of the culture, of the symbolic, of the sensitivity. Our problematic can be meet in the possibility to enhance an open and sensible rationality, tattooed in the body and accessible for the gestures, that its materialized in the relations of the human being with the other and the world, in singular and collective relations. Therefore, the gesture, constructed in the intention the experience of the body, can tell us about the human being, the society and the culture, therefore the sensed of the gestures is constructed from the established and recognized mutual actions for the citizens. It is in this field of production of the knowledge, of knowing of the meat that we direct our perception, in the challenge to immerge into the intention of the gesture in the capoeira game. Of the methodological point of view, for the analysis of the gestures of the capoeira, therefore, of the body as knowledge power, we consider registers of images as well as narratives registers of the universe of the capoeira, as well as my experience of more than seven years in the group of capoeira cordão de ouro1. A epistemological exercise has as support a qualitative research where parts of the quantity of images of the investigated group, as well as interviews, daily registers in of field and over all my experience of life next to the group and to the capoeira, in intention to recognize symbols tattooed in the body and for it produced in the inter subjectivists relations. We search therefore, to evidence sensible and meanings drawn for the gesture and evidenced by the look of the researcher. We presents as objectives of this inquiry to nuance ribbings around of the social and cultural elements in the production of the knowledge of the body, of the gesture, weaveeed for the sensible rationality

Ambiente institucional no crédito rural :avanços e retrocessos

This work aims to study the institucional environment for the implementation of financing policies directed to familiar agriculture. The central hypothesis is that, although all changes occured in the credit norms, in order to reduce the existing obstacles for the access of outsiders, the same institucional arrangement remains which gave support to the modernization - crystallizer of strengthening structures of this exclusion. The most relevant pressuposition is that the poor agriculturists are the most displayed to the institucional limitations. The concepts of institucional arrangements and environments used in this work had been constructed with support of the institucional school, contemplating itself the economic dimension, the organizational sociology and political science. In the relation of the institucional changes with the state performance, the theorist reading was important that reflect on the relative autonomy of the State and studious of the Brazilian State. The empirical part consisted of a research which had been applied questionnaires with benefited and non-benefited agriculturists with PRONAF B, in thirteen cities of Rio Grande do Norte. In each city, interviews with four of its main mediators had been carried out. The research results had ratified the hypothesis of the work of that the conception of the public policies does not take in account the institution role in the behavior and the choices of the individual and collective agents, inferring itself that this policy, as others, lacks of mediation that exceed the rationality of legal landmarks

Rodando a bolsinha: dinheiro e relações de prostituição

In this work a series of discussions is made on the relationship between money and prostitution in a way of overcoming its merely economic aspects, in the perception of both being social, cultural and historical phenomena, and taking them as symbols, whose study aids to unveil the reality. In this context it is looked for revealing its forms and contents to make it possible to understand them beyond the rationality, calculability and mathematical elements presents in them; beyond apparentness, taking them in their complexity. The discussions encompass theoretical elements, based especially on Georg Simmel s theoretical analyses, allied to a specific empirical frame that regards the life experience of the women of Praia do Meio, pedaço of the city of Natal-RN-Brazil, where the data were collected from. Fundamentally, prostitution is perceived as an exchange activity, which is not depleted in the economic elements, but, contrarily, starts on them and surpasses them in diverse aspects. It deals about a money-mediated relationship between human beings that possesses in itself a full complexity, which demands an accurate and keen attention to be comprehended. Since money has transformed the world and the men and women in it, the discussions in the text are conducted in a direction to attempt to encircle and understand the relationship between money and prostitution. Prostitution, in turn, aids to understand such a transformation as it is also a symbol of our times and it makes us to face the true essence of our society: the transformation of human beings into merchandise, into negotiable objects. In the money-based society it is possible to picture the phenomenon of double prostitution: negotiation of the human being, through labor, and negotiation of sex, the last being dramatically stigmatized and the former strongly encouraged. This may be demonstrating that the paid sex is, in the money-ruled society, a limit of commercialization, widely accepted provided it is camouflaged and surrounded by an aura of sensuality and legitimacy

O direito à informação jornalística: garantias constitucionais ao direito de ser informado no sistema brasileiro.

The freedom of social communication referred to those freedoms exercised under of the media. The journalism is professional activity responsible for factual information, real, pluralistic and of the public interest, directed diffusely to social orientation. The right of the information, characterized as diffuse right or of fruition by uncertain and numerous holders, is subdivided in the right of the inform, inform yourself and right to be informed. The journalists, as occupants of a enlarged spectrum concerning of right of the inform, have responsibility for the information they disseminate, devoir that puts on the basis of the constitutional right to be informed. This duty is divided with journalistic companies, when them realized. In the research, examined the existence of constitutional guarantees the right to be informed. To answer the question, realized research to support bibliographical and documentary. The guaranty is a empirical preoccupation coated with legality, since lends itself effect concretize a right. Traced so a panel of guarantees of institutional imprint, substantive and procedural. Treating of the institutional guarantees the right to information, it would refer to true institutions (as the free press) and may begin subjective rights. In the case of substantial guarantees, we would have access to information, the confidentiality of the fonts and the incensurable feature of journalistic information. A guarantee peculiar would be constitution of bodies responsible for monitoring the quality of the vehicles of communication. Trace it also a panel strict of procedural safeguards, such as public civil action, the security s warrant, and the rights of petition and answer.

Os instrumentos de incentivo à produção e uso de biodiesel no Brasil: uma análise constitucional sob o princípio do desenvolvimento sustentável

The recent insertion of biodiesel derived from oily vegetables in the Brazilian energetic matrix calls for the study of some aspects that belong to it. The analysis of the carbonized energetic pattern concerns the paradigm of economic development that is constitutionally enshrined sustainable development which make environmental protection compatible with the needs of the economic rationality. This text is structured according to the ideas of modern hermeneutic that sees substantial value in the principles capable of create a harmonious relationship between law and society. The study of the constitutional principles to conduct a legal analysis about the National Program for Production and Use of Biodiesel - PNPB. The aim of the research is the study of PNPB ahead with the constitutional principles governing the economic order. To achieve this end we studied the sustainable development as a constitutional principle. We start with the notion that the thematic principles, and fundamental to understanding the dimension of sustainable development institute, since its concept is closely related to the applications of the principles enshrined in virtually all the constitutional order of the Western world. Then this was the National Energy Policy, initiating the approach by guiding principles of the National Energy Policy to develop the theme of public policy in the energy sector. Therefore, we studied the National Program of Biodiesel Production and Use - PNPB. From a technical introduction to the concept of biodiesel and a brief historical background, analyzing their advantages compared to fossil fuels predominantly used. Then it became a regulatory overview of the Brazilian legislation on the subject, central to understanding the plans and objectives pursued by the Brazilian government with encouraging the production of biodiesel. Finally discussed the tax incentives for production and use of biodiesel in Brazil. From the idea of federalism, characterized the tax as an instrument of state intervention in the economy. And finally it brought the tax incentives of Law No. 11.116/2005 in the face of the constitutional principles of economy and tax, and tax incentives from projects related to the Kyoto Protocol

Acesso à justiça enquanto direito fundamental: efetivação pela defensoria pública

The Federal Constitution of 1988 is recognized for its enlargement in the face of large amount of provisions that make it up, among which many are fundamental rights. The fundamental rules set up the foundation of a democratic state, however, are the necessary legal mechanisms to be effective, its exercise is not enough merely to state them, but to offer ways for them to stop being just written standard on paper, and come to be viewed and exercised day-to-day. In this sense, access to justice presents itself in our times, as a cornerstone for a just society dictates. In this light, access to justice can be seen as the most fundamental of rights, which translates as instruments able to safeguard the fundamental rights not only against the action/omission violating the state but also the very particular. Furthermore, access to justice within the legal country, is not right for everyone, despite the willingness of the Citizen Charter in its article 5, paragraph LXXIV, ensuring that the State shall provide full and free legal assistance to those in need. More than half of the population lives in poverty and can´t afford to pay legal fees or court costs as well as a bump in their own ignorance of their rights. The judiciary, in their primary function, is in charge of trying to correct the violation of the rights, intending to effect a true distributive justice, serving as a paradigm for the promotion of substantive equality of human beings, however, is difficult and tortuous access Justice for those without financial resources. In this vein, we present the Public Defender, as keeper of the masses in its institutional role, defending a disadvantage, in the words, as a mechanism for effective access to justice, ensuring therefore fundamental rights. Public Defenders arise at the time or much discussion highlights the priority of actual access to justice, custody, therefore, intimate bond with the pursuit of fundamental rights, in which, that advance the broad range of rights, without whom could defend them or guardianship them

A função social do contrato como concretização de direitos fundamentais nas relações privadas

This dissertation deals with the social function of the contract, based on constitutional principles, especially those relating to fundamental rights. The social function of the contract (general clause) is described in the Civil Code so intentionally generic, no precise criteria to define it. Because of the fluidity of this principle, it is justified its closer study, seeking to assess its various meanings and looking away from the legal uncertainty that an unlimited conceptual vagueness can cause. The social function of the contract arises from a transformation experienced in private law from the inflows received from the Constitutional Law, the result of an evolutionary process by which it became the state structure, leaving the foundations of the classical liberal state and moving toward a vision guided by existential human values that give the keynote of the Welfare State. Arose, then the concern about the effectiveness of fundamental rights in relations between individuals, which is studied from the inapplicability of fundamental rights in private relations (U.S. doctrine of State action), passing to the analysis of the Theory of indirect horizontal effect of fundamental rights (of German creation and majority acceptance), reaching the right horizontal efficacy Theory of fundamental rights, prevailing Brazilian doctrine and jurisprudence. It has also been investigated the foundations of the social contract, pointing out that, apart from the provisions of the constitutional legislation, that base the principle on screen, there have also been noticed foundations in the Federal Constitution, in devices like the art. 1, III, the dignity of the human person is the north of the relationship between contractors. Also art. 3rd, I CF/88 bases the vision of social covenants, equipping it for the implementation of social solidarity, as one of the fundamental objectives of the Republic. Still on art. 170 of the Constitution it is seen as a locus of reasoning in the social function of the contract, the maintenance of the economic order. It is also studied the internal and external aspects of the social function of the contract, being the first part the one that considers the requirement of respect for contractual loyalty, through the objective good faith, as a result of the dignity of the hirer may not be offended by the other through the contract. On the other hand, the external facet of the social function of the contract, in line with the constitutional mandate of solidarity, indicates the need for contractors to respect the rights of society, namely the diffuse, collective and individual third party. In this external appearance, it is also pointed the notion of external credit protection, addressing the duty of society to respect the contract. There has been shown some notions of the social contract in comparative law. Then, there has been investigated the content of principle study, through their interrelationships with other provisions of private and constitutional law, namely equality, objective good faith, private autonomy and dignity of the human person. We study the application of the social contract in contractual networks as well as the guidance of conservation of contracts, especially those denominated long-term captive contracts, considering the theory of substantive due performance, concluding with an analysis of the social contract in code of Consumer Protection