Grupos societários: análise do modelo da lei 6.404/1976

Passados 29 anos da vigência da lei 6.404/1976, necessária uma análise crítica do modelo não-definitivo sobre grupos societários, principalmente porque se constata que as maiores empresas com atividades no brasil organizam-se na forma de grupos econômicos. O objetivo deste estudo é retomar os pressupostos da legislação grupal brasileira, compará-la com as estruturas empresariais nacionais atualmente existentes e, tendo em vista os resultados, indicar primeiras considerações para se repensar o direito societário a partir da realidade dos grupos.

Monetary policy and the cross-section of stock returns: a FAVAR approach

We use a factor-augmented vector autoregression (FAVAR) to estimate the impact of monetary policy shocks on the cross-section of stock returns. Our FAVAR combines unobserved factors extracted from a large set of nancial and macroeconomic indicators with the Federal Funds rate. We nd that monetary policy shocks have heterogeneous e ects on the crosssection of stock returns. These e ects are very well explained by the degree of external nance dependence, as well as by other sectoral characteristics.

Sorte versus habilidade, uma abordagem através de cross section da indústria de fundos de ações no Brasil

Neste trabalho testa-se inicialmente se fundos com gestão ativa apresentam alfa (excesso de retorno) em relação aos índices de referência de fundos passivos. Simulações via bootstrap visam indicar se o excesso de retorno apresentado pode ser atribuído apenas à sorte. Com esta metodologia concluiu-se que a carteira agregada de fundos de investimentos de ação com gestão ativa no Brasil não apresenta excesso de retorno em relação aos principais índices da bolsa brasileira, quando líquidos de taxas e despesas. As simulações de bootstrap sugerem que uma quantidade maior de fundos apresenta retornos ajustados ao benchmark do que o esperado pelo efeito da aleatoriedade nos resultados.

Full IFRS x lei 11.638 (1ª fase) x lei 6.404: impacto esperado nos resultados de 2010 a partir das empresas que se anteciparam

Este estudo objetiva estimar o impacto esperado do full IFRS no resultado de 2010 a ser reportado pelas empresas brasileiras, a partir da análise das companhias que voluntariamente anteciparam sua adoção nos relatórios de 2008 ou 2009. É aplicado o inverso do “Índice de Conservadorismo” de Gray (1980), renomeado “Índice de Comparabilidade” por Weetman et al. (1998), para determinar o impacto da transição entre os três conjuntos normativos no processo de convergência: da lei 6.404 para a lei 11.638 (primeira fase da transição), da lei 11.638 para o full IFRS (última fase da transição), bem como do processo total (da lei 6.404 para o full IFRS). Os resultados encontrados são consistentes com a hipótese de conservadorismo da contabilidade brasileira preconizado por Gray (1988), sendo apurados aumentos médios no lucro reportado de 44% no exercício de 2007 e de 64% em 2008 e, no patrimônio líquido, de 8,7% em 2007 e 21% em 2008 (todos significativos a pelo menos 5%, exceto o patrimônio líquido de 2004). O estudo também apurou um aumento incremental médio no lucro de 31% em 2007 e de 38% em 2008 (ambos significativos a pelo menos 10%) e de 6,8% e 51%, respectivamente, no patrimônio líquido de 2007 e de 2008 das empresas analisadas (embora só o de 2008 seja significativo a 5%). Assim, prevê-se um novo aumento no lucro e patrimônio líquido das empresas nos relatórios a serem publicados em 2011 em decorrência da aplicação da fase final da convergência para o full IFRS.

Investigation of the two-photon absorption cross-section in perylene tetracarboxylic derivatives: Nonlinear spectra and molecular structure

We investigated the 2PA absorption spectrum of a family of perylene tetracarboxylic derivatives ( PTCDs): bis( benzimidazo) perylene ( AzoPTCD), bis( benzimidazo) thioperylene ( Monothio BZP), n-pentylimidobenzimidazoperylene ( PazoPTCD), and bis( n-butylimido) perylene ( BuPTCD). These compounds present extremely high two-photon absorption, which makes them attractive for applications in photonics devices. The two-photon absorption cross-section spectra of perylene derivatives obtained via Z-scan technique were fitted by means of a sum-over-states ( SOS) model, which described with accuracy the different regions of the 2PA cross-section spectra. Frontier molecular orbital calculations show that all molecules present similar features, indicating that nonlinear optical properties in PTCDs are mainly determined by the central portion of the molecule, with minimal effect from the lateral side groups. In general, our results pointed out that the differences in the 2PA cross-sections among the compounds are mainly due to the nonlinearity resonance enhancement.

Comparison of fracture surface and plane section analysis for ceramic grain size characterisation

A method has been developed to obtain quantitative information about grain size and shape from fractured surfaces of ceramic materials. One elaborated a routine to split intergranular and transgranular grains facets of ceramic fracture surfaces by digital image processing. A commercial ceramic (ALCOA A-16, Al2O3-1.5% of CrO) was used to test the proposed method. Microstructural measurements of grain shape and size taken from fracture surfaces have been compared through descriptive statistics of distributions, with the corresponding measurements from polished and etched surfaces. The agreement between results, with the expected bias on grain size values from fractures, obtained for both types of surfaces allowed to infer that this new technique can be used to extract the relevant microstructural information from fractured surfaces, thus minimising the time consuming steps of sample preparation. (C) 2003 Elsevier Ltd. All rights reserved.

Fault section estimation in electric power systems using an optimization immune algorithm

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Heat transfer in laminar flow of non-Newtonian fluids in ducts of elliptical section

Laminar forced convection inside tubes of various cross-section shapes is of interest in the design of a low Reynolds number heat exchanger apparatus. Heat transfer to thermally developing, hydrodynamically developed forced convection inside tubes of simple geometries such as a circular tube, parallel plate, or annular duct has been well studied in the literature and documented in various books, but for elliptical duct there are not much work done. The main assumption used in this work is a laminar flow of a power flow inside elliptical tube, under a boundary condition of first kind with constant physical properties and negligible axial heat diffusion (high Peclet number). To solve the thermally developing problem, we use the generalized integral transform technique (GITT), also known as Sturm-Liouville transform. Actually, such an integral transform is a generalization of the finite Fourier transform where the sine and cosine functions are replaced by more general sets of orthogonal functions. The axes are algebraically transformed from the Cartesian coordinate system to the elliptical coordinate system in order to avoid the irregular shape of the elliptical duct wall. The GITT is then applied to transform and solve the problem and to obtain the once unknown temperature field. Afterward, it is possible to compute and present the quantities of practical interest, such as the bulk fluid temperature, the local Nusselt number and the average Nusselt number for various cross-section aspect ratios. (C) 2006 Elsevier. SAS. All rights reserved.

Genetic diversity analysis in the section Caulorrhizae (genus Arachis) using microsatellite markers

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Histometric analysis of ligature-induced periodontitis in rats: a comparison of histological section planes

The purpose of this study was to analyze the histometry of ligature-induced periodontitis in rats at different histological section depths. Sixteen male adult Wistar rats were randomly assigned to two groups: ligature and control. In the ligature group, rats received a sterile 4/0 silk ligature around the maxillary right 2nd molar. Thirty serial sections containing the 1st and 2nd molars, in which the coronal and root pulp, cementoenamel junction (CEJ) in the mesial side of the 2nd molar, interproximal alveolar bone and connective fiber attachment were clearly visible, were selected for histometric analysis. The histological sections were clustered in groups of 10 sections corresponding the buccal (B), central (C) and lingual (L) regions of the of periodontal tissue samples. The distance between the CEJ in the mesial side of the 2nd molar and the attached periodontal ligament fibers (CEJ-PL) as well as the distance between the CEJ and the alveolar bone crest (CEJ-BC) were determined. From CEJ-PL and CEJ-BC distances measured for each specimen, the measurements obtained in the B, L and C regions were recorded individually and together. Data were submitted to statistical analysis. Significant differences (p<0.001) were observed between the control and ligature groups regarding CEJ-PL (0.05 mm and 0.26 mm, respectively) and CEJ-BC (0.47 mm and 0.77 mm, respectively) measurements. Regarding the depth of the buccal, central and lingual planes, the means of CEJ-PL and CEJ-BC of both groups showed no statistically significant differences (p>0.05). In conclusion, the selection of 10 serial sections of the central region of periodontal tissue samples at any depth can be considered as representative for the evaluation of periodontal ligament fiber attachment and bone loss in ligature-induced periodontitis in rats.

Analysis of Abstracts Presented at the Prosthodontic Research Section of IADR General Sessions 2004-2005: Demographics, Publication Rates, and Factors Contributing to Publication

Purpose: The purposes of this study were to describe the demographics of abstracts presented at the prosthodontics section of IADR General Sessions from 2004 to 2005, evaluate the publication rate of abstracts, and analyze the relationship between variables in abstracts and publication.Materials and Methods: Prosthodontics research section abstracts from the IADR General Session in 2004 and 2005 were evaluated for: number of authors, presentation type, origin, affiliation, topic, study design, statistics, study outcome, and funding. The publication rate was calculated following a PubMed search. The journal of publication, year of publication, and the length of time before publication were analyzed. Descriptive statistics were used for the data analysis; the relationships between presentation type, study design, study outcome, statistics, funding, and publication were analyzed using logistic regression (alpha = 0.05).Results: From 346 abstracts, 37.0% were published. For oral presentations, 40.7% were published; 35.8% of poster presentations were published. The mean duration before publicationwas 26.4months. North America had themost abstracts, and Europe had the most publications. Fixed prosthodontic research had the highest number and proportion for publication. A significant association with publication was noted for neutral study outcomes (p = 0.018), studies with funding (p = 0.035), and abstracts from Europe (p = 0.001).Conclusions: The majority of abstracts from the prosthodontics research section of IADR General Sessions from 2004 and 2005 remain unpublished. A significant association for publication was noted with neutral outcomes, funding, and abstracts from Europe.

eta ->gamma gamma decay width via the Primakoff cross section

Incoherent eta photoproduction in nuclei is evaluated at forward angles within 4 to 9 GeV using a multiple scattering Monte Carlo cascade calculation with full eta-nucleus final-state interactions. The Primakoff, nuclear coherent and nuclear incoherent components of the cross sections fit remarkably well previous measurements for Be and Cu from Cornell, suggesting a destructive interference between the Coulomb and nuclear coherent amplitudes for Cu. The inelastic background of the data is consistently attributed to the nuclear incoherent part, which is clearly not isotropic as previously considered in Cornell's analysis. The respective Primakoff cross sections from Be and Cu give Gamma(eta ->gamma gamma)=0.476(62) keV, where the quoted error is only statistical. This result is consistent with the Particle Data Group average of 0.510(26) keV and in sharp contrast (similar to 50%) with the value of 0.324(46) keV obtained at Cornell.

Novel polymorphic microsatellite markers in section Caulorrhizae (Arachis, Fabaceae)

This work reports the characterization of 11 polymorphic microsatellite loci in section Caulorrhizae. The primer pairs were designed from Arachis pintoi and showed full transferability to Arachis repens species. These new markers were used to evaluate the genetic diversity in germplasm (accessions and cultivars) of section Caulorrhizae. This new set of markers detected greater gene diversity than morphological and molecular markers such as AFLP (amplified fragment length polymorphism) and RAPD (rapid analysis of polymorphic DNA) previously used in this germplasm.