Light alloy castings for automotive applications: The case of Al vs Mg

The economical and environmental effects of mass reduction through Al and Mg primary alloys substitutions for cast iron and steel in automotive components are discussed using MF. Ashby's penalty functions method The viability of Mg alloy substitutions for existing Al alloy cast components is also considered. The cost analysis shows that direct, equal-volume, Al alloy substitutions for cast iron and steel are the most feasible in terms of the CAFE liability, followed by substitutions involving flat panels of prescribed stiffness. When the creation of CO2 associated to the production of Al and Mg is considered, the potential gasoline savings over the lifespan of the car compensate for the intrinsic environmental burden of Al in all applications, while electrolytic Mg substitutions for cast iron and steel are feasible for equal volume and panels only. Magnesium produced by the Pidgeon thermal process appears to be too primary energy intensive to be competitive in structural applications. Magnesium substitutions for existing Al alloy beams and panels are generally unviable. The current higher recycling efficiency of Al casting alloys confers Al a significant advantage over Mg alloys.

AS RELAÇÕES ENTRE SATISFAÇÃO NO TRABALHO, COMPROMETIMENTO ORGANIZACIONAL AFETIVO E INTENÇÃO DE ROTATIVIDADE: UM ESTUDO EM UMA MINERADORA DE DIAMANTES EM ANGOLA

Muito se tem investigado sobre os antecedentes de intenção de rotatividade. Dentre as possíveis variáveis com capacidade de se relacionar aos planos dos trabalhadores deixarem a organização destacam-se: satisfação no trabalho e comprometimento organizacional afetivo. O presente estudo teve como objetivo geral analisar as relações entre estas três variáveis; satisfação no trabalho, comprometimento organizacional afetivo e intenção de rotatividade. Ligando-se aos objetivos através dos seus estímulos internos ou externos, desvendados no estudo em uma mineradora de diamantes em Angola onde foram analisadas as relações entre as três variáveis. Participaram na pesquisa 151 trabalhadores, todos de nacionalidade angolana selecionados aleatoriamente em diferentes áreas da mesma empresa. Após aplicação do questionários com três medidas validadas e precisas, o tratamento dos dados, todos de natureza numérica, foi processado pelo software estatístico Statistical Package for the Social Science SPSS, versão 19.0 para Windows. Apurou-se que a idade media dos participantes era de 38,34 (DP = 8,42) anos, sendo a maioria do sexo masculino, solteira, com o nível médio completo, não exercendo cargo de chefia, pertencendo ao grupo (GP - III) um total de 89 (58,9 %), realizando grande parte do seu trabalho com outra pessoa ou em grupo, com tempo de trabalho variando entre 1 (um) e 16 anos. Os resultados descritivos indicam que os trabalhadores detêm um quadro de satisfação no trabalho, com satisfações maiores proporcionadas pelo número de vezes e oportunidades de serem promovidos, com a capacidade profissional de seus chefes, no entendimento encontrado entre si e na maneira como são tratados pelos seus chefes; e menores com o tipo de amizade, confiança e espírito de colaboração demonstrada pelos seus colegas de trabalho, assim como com a capacidade absorvida e o salário se comparado com o quanto trabalha. O quadro do comprometimento organizacional afetivo demonstra maior afeto as questões relacionadas a empresa em fazer o empregado sentir-se orgulhoso e contente com ela. Análises de correlação pelo r de Pearson informaram índices negativos e significativos entre as duas variáveis e intenção de rotatividade. Tais resultados informam que o plano de deixar a empresa onde trabalham é cada vez menor à medida que se elevam os níveis de satisfação no trabalho e comprometimento organizacional afetivo.

SER-PROFESSOR: construção de identidade em processo autoformativo

Este estudo teve por objetivo analisar como o ser-professor se narra e interpretase como sujeito na profissão, tendo em vista compreender de que maneira esse profissional constrói a identidade pessoal/profissional, sendo capaz de afirmar-se ou negar-se como sujeito dentro do sistema-escola? Trata-se de uma pesquisa realizada com educadores de 1º e 2º ano do ciclo I e II do Ensino Fundamental da Rede Pública de São Bernardo do Campo e Mestrandos em Educação. Optou-se por entrevistar seis educadores, de diferentes áreas de ensino, tornando-os autores desta pesquisa. A abordagem metodológica de cunho qualitativo foi utilizadas priorizando a narrativa dos educadores. Para esta metodologia recorreu-se às contribuições de Maria Isabel Cunha; Lüdke; André; Connelly e Clandini que explicitam sobre a importância de trabalhar com essa metodologia na perspectiva de interpretar e compreender a construção da identidade docente, sobretudo, na linha Formação de Educadores. A temática formação docente e construção da identidade foi trazida à luz dos estudos de Pimenta; Brzezinski; Freire; Vianna; Lane; Sung; Nóvoa; Ciampa, entre outros. No âmbito da análise, foram priorizadas algumas categorias ao longo desta temática: razões que levaram à escolha da profissão; percepções que o professor tem de sujeito na profissão; condições de ser e estar na profissão ; sistema e construção da identidade: condições de se sujeitar para se auto-afirmar como sujeito profissional. No trato destas categorias e, ao longo desta pesquisa, foram consideradas as percepções dos professores, como sendo elementos valiosos para identificar da construção de identidade docente. Estas considerações fundam-se no aporte teórico-metodológico que apresentam grandes contribuições referentes à temática. A partir daí, são estabelecidas relações entre Psicologia Social e Sociologia que possibilitam identificar nas narrativas dos educadores uma insatisfação perante o sistema. Alguns professores partem do próprio sentimento ao narrar todo desconforto que as instituições propiciam-lhes; outros enfatizam de modo objetivo seu cotidiano, contornando e explicitando diferenças na condição de ser estar na profissão .

ANÁLISE DAS MUDANÇAS DOS FATORES DETERMINANTES DA ESTRUTURA DE CAPITAL EM FUNÇÃO DO CICLO DE VIDA DAS EMPRESAS BRASILEIRAS SÃO BERNARDO DO CAMPO

As várias teorias acerca da estrutura de capital despertam interesse motivando diversos estudos sobre o assunto sem, no entanto, ter um consenso. Outro tema aparentemente pouco explorado refere-se ao ciclo de vida das empresas e como ele pode influenciar a estrutura de capital. Este estudo teve como objetivo verificar quais determinantes possuem maior relevância no endividamento das empresas e se estes determinantes alteram-se dependendo do ciclo de vida da empresa apoiada pelas teorias Trade Off, Pecking Order e Teoria da Agência. Para alcançar o objetivo deste trabalho foi utilizado análise em painel de efeito fixo sendo a amostra composta por empresas brasileiras de capital aberto, com dados secundários disponíveis na Economática® no período de 2005 a 2013, utilizando-se os setores da BM&FBOVESPA. Como resultado principal destaca-se o mesmo comportamento entre a amostra geral, alto e baixo crescimento pelo endividamento contábil para o determinante Lucratividade apresentando uma relação negativa, e para os determinantes Oportunidade de Crescimento e Tamanho, estes com uma relação positiva. Para os grupos de alto e baixo crescimento alguns determinantes apresentaram resultados diferentes, como a singularidade que resultou significância nestes dois grupos, sendo positiva no baixo crescimento e negativa no alto crescimento, para o valor colateral dos ativos e benefício fiscal não dívida apresentaram significância apenas no grupo de baixo crescimento. Para o endividamento a valor de mercado foi observado significância para o Benefício fiscal não dívida e Singularidade. Este resultado reforça o argumento de que o ciclo de vida influência a estrutura de capital

Enforceability of leasehold covenants and the landlord and tenant (Covenants) Act 1995

Describes the impact of the English Landlord and Tenant (Covenants) Act 1995, reforming liability in the context of new leases, extending the 'touching and concerning' requirement so all covenants 'run with the land' (with some exceptions), and abolishing the enduring liability of the original tenants and landlords. Explains that landlords will have more freedom to prescribe in advance the circumstances in which they consent to an assignment, referring also to changes in default notices requiring an 'early warning' to defaulters, and overriding leases, with a remedy for former tenants. Expects future leases to be shorter as landlords realize they cannot hold original tenants liable any more.

Assessing the effectiveness of business support services in England:evidence from a theory based evaluation

In England, publicly supported advice to small firms is organized primarily through the Business Link (BL) network. Using the programme theory underlying this business support, we develop four propositions and test these empirically using data from a new survey of over 3000 English SMEs. We find strong support for the value to BL operators of a high profile to boost take-up. We find support for the BL’s market segmentation that targets intensive assistance to younger firms and those with limited liability. Allowing for sample selection, we find no significant effects on growth from ‘other’ assistance but find a significant employment boost from intensive assistance. This partially supports the programme theory assertion that BL improves business growth and strongly supports the proposition that there are differential outcomes from intensive and other assistance. This suggests an improvement in the BL network, compared with earlier studies, notably Roper et al. (2001), Roper and Hart (2005).

Liquidity and portfolio optimisation

This thesis presents research within empirical financial economics with focus on liquidity and portfolio optimisation in the stock market. The discussion on liquidity is focused on measurement issues, including TAQ data processing and measurement of systematic liquidity factors (FSO). Furthermore, a framework for treatment of the two topics in combination is provided. The liquidity part of the thesis gives a conceptual background to liquidity and discusses several different approaches to liquidity measurement. It contributes to liquidity measurement by providing detailed guidelines on the data processing needed for applying TAQ data to liquidity research. The main focus, however, is the derivation of systematic liquidity factors. The principal component approach to systematic liquidity measurement is refined by the introduction of moving and expanding estimation windows, allowing for time-varying liquidity co-variances between stocks. Under several liability specifications, this improves the ability to explain stock liquidity and returns, as compared to static window PCA and market average approximations of systematic liquidity. The highest ability to explain stock returns is obtained when using inventory cost as a liquidity measure and a moving window PCA as the systematic liquidity derivation technique. Systematic factors of this setting also have a strong ability in explaining a cross-sectional liquidity variation. Portfolio optimisation in the FSO framework is tested in two empirical studies. These contribute to the assessment of FSO by expanding the applicability to stock indexes and individual stocks, by considering a wide selection of utility function specifications, and by showing explicitly how the full-scale optimum can be identified using either grid search or the heuristic search algorithm of differential evolution. The studies show that relative to mean-variance portfolios, FSO performs well in these settings and that the computational expense can be mitigated dramatically by application of differential evolution.

Abnormally increased effective connectivity between parahippocampal gyrus and ventromedial prefrontal regions during emotion labeling in bipolar disorder

Emotional liability and mood dysregulation characterize bipolar disorder (BD), yet no study has examined effective connectivity between parahippocampal gyrus and prefrontal cortical regions in ventromedial and dorsal/lateral neural systems subserving mood regulation in BD. Participants comprised 46 individuals (age range: 18-56 years): 21 with a DSM-IV diagnosis of BD, type I currently remitted; and 25 age- and gender-matched healthy controls (HC). Participants performed an event-related functional magnetic resonance imaging paradigm, viewing mild and intense happy and neutral faces. We employed dynamic causal modeling (DCM) to identify significant alterations in effective connectivity between BD and HC. Bayes model selection was used to determine the best model. The right parahippocampal gyrus (PHG) and right subgenual cingulate gyrus (sgCG) were included as representative regions of the ventromedial neural system. The right dorsolateral prefrontal cortex (DLPFC) region was included as representative of the dorsal/lateral neural system. Right PHG-sgCG effective connectivity was significantly greater in BD than HC, reflecting more rapid, forward PHG-sgCG signaling in BD than HC. There was no between-group difference in sgCG-DLPFC effective connectivity. In BD, abnormally increased right PHG-sgCG effective connectivity and reduced right PHG activity to emotional stimuli suggest a dysfunctional ventromedial neural system implicated in early stimulus appraisal, encoding and automatic regulation of emotion that may represent a pathophysiological functional neural mechanism for mood dysregulation in BD.

When moving information online diminishes change:advisory services to SMEs

Improving the performance of private sector small and medium sized enterprises (SMEs) in a cost effective manner is a major concern for government. Governments have saved costs by moving information online rather than through more expensive face-to-face exchanges between advisers and clients. Building on previous work that distinguished between types of advice, this article evaluates whether these changes to delivery mechanisms affect the type of advice received. Using a multinomial logit model of 1334 cases of business advice to small firms collected in England, the study found that advice to improve capabilities was taken by smaller firms who were less likely to have limited liability or undertake business planning. SMEs sought word-of-mouth referrals before taking internal, capability-enhancing advice. This is also the case when that advice was part of a wider package of assistance involving both internal and external aspects. Only when firms took advice that used extant capabilities did they rely on the Internet. Therefore, when the Internet is privileged over face-to-face advice the changes made by each recipient of advice are likely to diminish causing less impact from advice within the economy. It implies that fewer firms will adopt the sorts of management practices that would improve their productivity. © 2014 Taylor & Francis.

Case Comment : Challenging the validity of leasehold guarantees:undue influence, non-est factum and formality issues

Case: Beardsley Theobalds Retirement Benefit Scheme Trustees v Yardley [2011] EWHC 1380 (QB) (QBD). The recent case of Beardsley Theobalds Retirement Benefit Scheme Trustees v Yardley, nicely illustrates, inter alia, the impact of the contractual defences of undue influence and the plea of non est factum in the context of avoiding liability under leasehold guarantees, within the setting of the landlord and tenant relationship. Additionally, the case also gives us an insight into the possible application of other technical defences relating to the law of formalities for leases. Judgment in this case was handed down on September 30, 2011.

Karl Marx és Karl Menger néhány gondolata a pénz eredetéről = The thoughts of Karl Marx and Karl Menger about the origin of money

Kisebb bizonytalankodás után a legtöbb közgazdászhallgató a pénz funkcióinak felsorolásába kezd, ha megkérdezik, hogyan határozná meg a pénz fogalmát. A gyakorlatiasabb, vagy a számvitel iránt elkötelezettebb diákok esetleg felidézik a banki mérleget és – részben helyesen – a pénzt kötelezettségként helyezik el benne. Mintha azonban még mindig egy kicsit pironkodnánk, hogy nem találjuk a megfelelő definíciót. És ez már így megy évszázadok óta. Jelen tanulmányban két XIX. századi közgazdász – Karl Marx és Karl Menger – néhány pénzelméleti következtetését igyekszem összehasonlítani, figyelembe véve az általuk képviselt közgazdasági elmélet alapvető eltéréseit. A mára általánosan elfogadottá váló szubjektív értékelmélet és a kissé elfeledett munkaérték-elmélet látszólag teljesen eltérő feltevéseire alapozva a két gondolkodó egészen hasonló eredményre jutott. Számukra a pénz nem egy egyszerű eszköz, sem követelés és kötelezettség, ahogyan most elkönyvelnénk, hanem áru. Eredetét nem állami törvényekből vezetik le, hanem társadalmi konszenzus során létrejött jelenségnek tekintik a pénzt, ami fölötte áll a törvényeknek, eredendően nem jelképet testesít meg, hanem különleges jószágként válik alkalmassá értékjel kifejezésére. / === / If being asked how to define money most students of economics would start listing the functions of money, or those students with more practical insight would place money as liability in the balance sheet of banks. It seems, however, as if we were still embarrassed by not finding the right definition. In the present study I am endeavouring to give a brief overview of various theoretical findings on the essence of money in the economy preceding the 19th century and then compare some money theoretical conclusions of two economists – Karl Marx and Karl Menger – considering the major differences of the economic theories represented by them. On the basis of the premises of the widely accepted subjective value theory and the somewhat forgotten labour theory of value the two 19th century thinkers came to rather similar results. For them money is not a simple means of payment, nor liability or claim, the way we would account for them now, but a special commodity. They do not attach its creation to the appearance of state laws on money as a legal tender but regard it as a social phenomenon which became capable of expressing a value token due to its peculiar characteristics.

Anatomy and lessons of the global financial crisis. Is US consumption financed by Chinese savings?

Savings and investments in the American money market by emerging countries, primarily China, financed the excessive consumption of the United States in the early 2000s, which indirectly led to a global financial crisis. The crisis started from the real estate mortgage market. Such balance disrupting processes began on the American financial market which contradicted all previously known equilibrium theories of every school of economics. Economics has yet to come up with models or empirical theories for this new disequilibrium. This is why the outbreak of the crisis could not be prevented or at least predicted. The question is, to what extent can existing market theories, calculation methods and the latest financial products be held responsible for the new situation. This paper studies the influence of the efficient market and modern portfolio theory, as well as Li’s copula function on the American investment market. Naturally, the issues of moral risks and greed, credit ratings and shareholder control, limited liability and market regulations are aspects, which cannot be ignored. In summary, the author outlines the potential alternative measures that could be applied to prevent a new crisis, defines the new directions of economic research and draws the conclusion for the Hungarian economic policy.

Az épített örökség védelme és a gazdasági stratégia (Protecting the architectural heritage and economic strategy)

Ez az esszé öt tételben vizsgálja, hogy a magyarországi épített örökség miért jutott olyan rossz helyzetbe, s a rendszerváltozás óta eltelt közel negyedszázad miért nem volt képes leküzdeni a háború és a szocializmus örökségét. Az írás második felében megkíséreljük fölvázolni azt, milyen gazdasági stratégia mentén lenne elérhető az a cél, hogy a hazai épített örökség üzleti és társadalmi hasznosítása is megvalósuljon. Ekkor tehertétel helyett – más országokban tapasztalt módon – a gazdasági fölemelkedés tartós tényezőjévé válhat. ___________ This essay advances five theses explaining the desolate state of the architectural heritage in Hungary. It also addresses the issue of why two decades of transition was not sufficient to remedy the shortcomings of four decades of socialism. In the second part of the study we attempt to draft a strategy that could help overcome these difficulties. It aims at a combination of business, municipal and civil society activities guided by a nationally coordinated plan. Following these guidelines the architectural heritage in Hungary could be transformed into an asset instead of a liability, as has been the case in many other European countries.