Hedge accounting no mercado acionário brasileiro : efeitos na qualidade da informação contábil e disclosure

Este trabalho investiga, no mercado acionário brasileiro, o efeito da contabilidade de hedge na qualidade das informações contábeis divulgadas, no disclosure dos instrumentos financeiros derivativos e na assimetria de informação. Para medir a qualidade da informação contábil, foram utilizadas as métricas de relevância da informação contábil e informatividade dos lucros contábeis. Para a execução deste trabalho, foi constituída uma amostra geral com empresas brasileiras, não financeiras, listadas na Bolsa de Valores de São Paulo, compreendendo as 150 empresas com maior valor de mercado em 01/01/2014. A partir da amostra geral, foram constituídas amostras para a aplicação dos modelos de value relevance, informativeness, disclosure e assimetria de informação. A amostra para relevância contou com 758 observações firmas-anos, para o período de 2008 a 2013. A amostra para informatividade contou com 701 observações firmas-anos, para o período de 2008 a 2013. A amostra para disclosure contou com 100 observações firmas-anos, para o período de 2011 a 2012. A amostra para assimetria de informação contou com 100 observações firmas-anos, para o período de 2011 a 2012. Para as análises dos dados, utilizou-se regressões com errospadrão robustos com abordagem POLS e Efeitos Fixos, aplicadas sobre dados em painel. Complementarmente, para as análises do efeito do hedge accounting sobre o disclosure e assimetria de informação, foi aplicado o método de Propensity Score Matching. As evidências encontradas para a influência da contabilidade de hedge na relevância da informação contábil apontaram uma relação positiva e significante na interação com o LL. Na análise da informatividade dos lucros contábeis, a pesquisa evidenciou uma relação negativa e estatisticamente significante do lucro quando interagido com a variável dummy de hedge accounting. Quanto às evidências encontradas para a influência do hedge accounting sobre o disclosure dos derivativos, verificou-se uma relação positiva e estatisticamente significante da dummy de hedge accounting com o indicador de evidenciação dos derivativos. Em relação às evidências para a assimetria de informação, embora os coeficientes se mostrassem no sentido esperado, os mesmos não foram estatisticamente significativos. Adicionalmente, incorporamse às análises econométricas uma análise descritiva, na amostra geral, da utilização do hedge accounting no Brasil, para o ano de 2013. Dentre as 150 empresas da amostra, 49 empresas utilizaram hedge accounting, onde 41 empresas adotam apenas 1 tipo de hedge. O hedge de fluxo de caixa é o tipo de hedge mais adotado pelas empresas, sendo utilizado por 42 companhias.

Tendências temporais de mortalidade por câncer de próstata no estado do Espírito Santo

Introdução: O câncer de próstata é o segundo tipo de câncer mais incidente em homens em todas as regiões do Brasil. Aproximadamente 62% dos casos diagnosticados no mundo ocorrem em homens com 65 anos ou mais, caracterizando o único fator de risco estabelecido. Objetivos: Estudar a tendência da completude do Sistema de Informação de Mortalidade (SIM), segundo as variáveis idade, raça/cor, escolaridade e estado civil no período de 2000 a 2010, no Espírito Santo, Região Sudeste e Brasil. Analisar a tendência de mortalidade por câncer de próstata na série histórica no estado do Espírito Santo (ES), no período de 1980 a 2010. Metodologia: Realizou-se um estudo descritivo baseado em dados secundários de todos os óbitos por câncer de próstata obtidos do SIM e dados do Instituto Brasileiro de Geografia e Estatística (IBGE) disponíveis no DATASUS departamento de informática do SUS (Sistema Único de Saúde), no ES, Região Sudeste e Brasil, no período de 1980 a 2010. Considerou-se as variáveis (idade, raça/cor, escolaridade e estado civil). Analisou-se o número absoluto e calculou-se o percentual de não preenchimento das informações das declarações de óbitos (DOs), que são a base de informação do SIM, nas localidades selecionadas (ES, Região Sudeste e Brasil). Analisou-se através do Pacote Estatístico para Ciências Sociais (SPSS), versão 18.0. Realizou-se uma análise inferencial com ajustes de curvas para os percentuais de dados faltantes das variáveis demográficas disponíveis no sistema do DATASUS (estado civil, escolaridade, raça/cor). E para a análise de tendência, foi realizado o cálculo do coeficiente de mortalidade por óbitos. As equações do melhor modelo e as estatísticas de ajuste (valor de R2 e o p-valor do teste F de adequação do modelo) foram obtidas do programa SPSS, versão 18.0. Resultados: No período de 2000 a 2010 a variável raça/cor, escolaridade, mostrou-se decrescente para o Brasil. A variável estado civil destacou-se por caracterizar uma tendência crescente no ES, Região Sudeste e Brasil. No período de 1980 a 2010 observou-se 3.561 óbitos no ES. Observa-se na série história que há tendência crescente de mortalidade por câncer de próstata. Conclusão: O trabalho é de grande importância para o estudo de câncer de próstata no Brasil. Identificou-se a crescente não completude dos campos de Estado Civil, enquanto a variável raça/cor foi considerada decrescente, porém com qualidade dos dados ruim. É preciso ações para que o processo de coleta dos dados seja aprimorado pela capacitação dos registradores. Nos resultados observou-se a tendência de crescimento da mortalidade, sendo necessárias ações, estratégias e políticas governamentais voltadas para a integralidade à saúde masculina.

Privacy and Data Protection in Elderly Healthcare: Threats and Legal Warranties

The progressive aging of the population requires new kinds of social and medical intervention and the availability of different services provided to the elder population. New applications have been developed and some services are now provided at home, allowing the older people to stay home instead of having to stay in hospitals. But an adequate response to the needs of the users will imply a high percentage of use of personal data and information, including the building up and maintenance of user profiles, feeding the systems with the data and information needed for a proactive intervention in scheduling of events in which the user may be involved. Fundamental Rights may be at stake, so a legal analysis must also be considered.

The need for standardized tests to evaluate the reliability of data transport in wireless medical systems

Wireless medical systems are comprised of four stages, namely the medical device, the data transport, the data collection and the data evaluation stages. Whereas the performance of the first stage is highly regulated, the others are not. This paper concentrates on the data transport stage and argues that it is necessary to establish standardized tests to be used by medical device manufacturers to provide comparable results concerning the communication performance of the wireless networks used to transport medical data. Besides, it suggests test parameters and procedures to be used to produce comparable communication performance results.

A brief survey on online analysis of movement data

The increasing availability of mobility data and the awareness of its importance and value have been motivating many researchers to the development of models and tools for analyzing movement data. This paper presents a brief survey of significant research works about modeling, processing and visualization of data about moving objects. We identified some key research fields that will provide better features for online analysis of movement data. As result of the literature review, we suggest a generic multi-layer architecture for the development of an online analysis processing software tool, which will be used for the definition of the future work of our team.

COORDINSPECTOR: a tool for extracting coordination data from legacy code

More and more current software systems rely on non trivial coordination logic for combining autonomous services typically running on different platforms and often owned by different organizations. Often, however, coordination data is deeply entangled in the code and, therefore, difficult to isolate and analyse separately. COORDINSPECTOR is a software tool which combines slicing and program analysis techniques to isolate all coordination elements from the source code of an existing application. Such a reverse engineering process provides a clear view of the actually invoked services as well as of the orchestration patterns which bind them together. The tool analyses Common Intermediate Language (CIL) code, the native language of Microsoft .Net Framework. Therefore, the scope of application of COORDINSPECTOR is quite large: potentially any piece of code developed in any of the programming languages which compiles to the .Net Framework. The tool generates graphical representations of the coordination layer together and identifies the underlying business process orchestrations, rendering them as Orc specifications

Criminal Liability of Organizations, Corporations, Legal Persons, and Similar Entities on Law of Portuguese Cybercrime: A Brief Discussion on the Issue of Crimes of “False Information,” the “Damage on Other Programs or Computer Data,” the “Computer-Software Sabotage,” the “Illegitimate Access,” the “Unlawful Interception,” and “Illegitimate Reproduction of the Protected Program”

Abstract: in Portugal, and in much of the legal systems of Europe, «legal persons» are likely to be criminally responsibilities also for cybercrimes. Like for example the following crimes: «false information»; «damage on other programs or computer data»; «computer-software sabotage»; «illegitimate access»; «unlawful interception» and «illegitimate reproduction of protected program». However, in Portugal, have many exceptions. Exceptions to the «question of criminal liability» of «legal persons». Some «legal persons» can not be blamed for cybercrime. The legislature did not leave! These «legal persons» are v.g. the following («public entities»): legal persons under public law, which include the public business entities; entities utilities, regardless of ownership; or other legal persons exercising public powers. In other words, and again as an example, a Portuguese public university or a private concessionaire of a public service in Portugal, can not commit (in Portugal) any one of cybercrime pointed. Fair? Unfair. All laws should provide that all legal persons can commit cybercrimes. PS: resumo do artigo em inglês.

The host-tourist interaction in a world heritage site: the case of Guimarães

Guimarães, in the northwest of Portugal, is a city of strong symbolic and cultural significance and its nomination by UNESCO as world heritage, in 2001, enlarged its tourism potential. In this paper we present a few results of a survey that envisaged capturing the Guimarães residents’ perceptions of tourism impacts and their attitudes towards tourists. Specifically, one analyzes the type of relationship that exists between some socio-demographic groups and the perceived tourism impacts, as well as their socio-characteristics and the existing level of interaction between residents and tourists. The survey was implemented between January and March 2010 to a convenience sample of 540 inhabitants of the municipality of Guimarães resulting in 400 questionnaires with complete data. For this, we made use of various statistical techniques. Using a factorial analysis, we can conclude that the three factors used explain 52.3% of the variance contained in the original variables obtained from the survey. By another side, using a logit model in the analysis and taking as the dependent variable the frequent or very frequent contact with tourists, we found that only the variables referred to perceived positive impacts of tourism, education and the place of residence in urban areas have shown to be statistically significant. We are aware of the multiple ways the issue of residents’ perceptions and attitudes towards tourism can be approached and of the difficulties to get useful policy-oriented insights. This paper is a step in that trail.

Eigenvalue computations in the context of data-sparse approximations of integral operators

In this work, we consider the numerical solution of a large eigenvalue problem resulting from a finite rank discretization of an integral operator. We are interested in computing a few eigenpairs, with an iterative method, so a matrix representation that allows for fast matrix-vector products is required. Hierarchical matrices are appropriate for this setting, and also provide cheap LU decompositions required in the spectral transformation technique. We illustrate the use of freely available software tools to address the problem, in particular SLEPc for the eigensolvers and HLib for the construction of H-matrices. The numerical tests are performed using an astrophysics application. Results show the benefits of the data-sparse representation compared to standard storage schemes, in terms of computational cost as well as memory requirements.

Real-time 3D interactive segmentation of echocardiographic data through user-based deformation of B-spline explicit active surfaces

Image segmentation is an ubiquitous task in medical image analysis, which is required to estimate morphological or functional properties of given anatomical targets. While automatic processing is highly desirable, image segmentation remains to date a supervised process in daily clinical practice. Indeed, challenging data often requires user interaction to capture the required level of anatomical detail. To optimize the analysis of 3D images, the user should be able to efficiently interact with the result of any segmentation algorithm to correct any possible disagreement. Building on a previously developed real-time 3D segmentation algorithm, we propose in the present work an extension towards an interactive application where user information can be used online to steer the segmentation result. This enables a synergistic collaboration between the operator and the underlying segmentation algorithm, thus contributing to higher segmentation accuracy, while keeping total analysis time competitive. To this end, we formalize the user interaction paradigm using a geometrical approach, where the user input is mapped to a non-cartesian space while this information is used to drive the boundary towards the position provided by the user. Additionally, we propose a shape regularization term which improves the interaction with the segmented surface, thereby making the interactive segmentation process less cumbersome. The resulting algorithm offers competitive performance both in terms of segmentation accuracy, as well as in terms of total analysis time. This contributes to a more efficient use of the existing segmentation tools in daily clinical practice. Furthermore, it compares favorably to state-of-the-art interactive segmentation software based on a 3D livewire-based algorithm.

Improving FEM crash simulation accuracy through local thickness estimation based on CAD data

In this paper, we present a method for estimating local thickness distribution in nite element models, applied to injection molded and cast engineering parts. This method features considerable improved performance compared to two previously proposed approaches, and has been validated against thickness measured by di erent human operators. We also demonstrate that the use of this method for assigning a distribution of local thickness in FEM crash simulations results in a much more accurate prediction of the real part performance, thus increasing the bene ts of computer simulations in engineering design by enabling zero-prototyping and thus reducing product development costs. The simulation results have been compared to experimental tests, evidencing the advantage of the proposed method. Thus, the proposed approach to consider local thickness distribution in FEM crash simulations has high potential on the product development process of complex and highly demanding injection molded and casted parts and is currently being used by Ford Motor Company.

Towards a model for the measurement of data quality in websites

Websites are, nowadays, the face of institutions, but they are often neglected, especially when it comes to contents. In the present paper, we put forth an investigation work whose final goal is the development of a model for the measurement of data quality in institutional websites for health units. To that end, we have carried out a bibliographic review of the available approaches for the evaluation of website content quality, in order to identify the most recurrent dimensions and the attributes, and we are currently carrying out a Delphi Method process, presently in its second stage, with the purpose of reaching an adequate set of attributes for the measurement of content quality.

A model for the evaluation of data quality in health unit website

This article presents a research work, the goal of which was to achieve a model for the evaluation of data quality in institutional websites of health units in a broad and balanced way. We have carried out a literature review of the available approaches for the evaluation of website content quality, in order to identify the most recurrent dimensions and the attributes, and we have also carried out a Delphi method process with experts in order to reach an adequate set of attributes and their respective weights for the measurement of content quality. The results obtained revealed a high level of consensus among the experts who participated in the Delphi process. On the other hand, the different statistical analysis and techniques implemented are robust and attach confidence to our results and consequent model obtained.

Survival analysis: a tool in the study of post-harvest diseases in peaches

Survival analysis is applied when the time until the occurrence of an event is of interest. Such data are routinely collected in plant diseases, although applications of the method are uncommon. The objective of this study was to use two studies on post-harvest diseases of peaches, considering two harvests together and the existence of random effect shared by fruits of a same tree, in order to describe the main techniques in survival analysis. The nonparametric Kaplan-Meier method, the log-rank test and the semi-parametric Cox's proportional hazards model were used to estimate the effect of cultivars and the number of days after full bloom on the survival to the brown rot symptom and the instantaneous risk of expressing it in two consecutive harvests. The joint analysis with baseline effect, varying between harvests, and the confirmation of the tree effect as a grouping factor with random effect were appropriate to interpret the phenomenon (disease) evaluated and can be important tools to replace or complement the conventional analysis, respecting the nature of the variable and the phenomenon.

Use efficiency of variable rate of nitrogen prescribed by optical sensor in corn

ABSTRACT The efficiency of nitrogen fertilizer in corn is usually low, negatively affecting plant nutrition, the economic return, and the environment. In this context, a variable rate of nitrogen, prescribed by crop sensors, has been proposed as an alternative to the uniform rate of nitrogen traditionally used by farmers. This study tested the hypothesis that variable rate of nitrogen, prescribed by optical sensor, increases the nitrogen use efficiency and grain yield as compared to uniform rate of nitrogen. The following treatments were evaluated: 0; 70; 140; and 210 kg ha-1 under uniform rate of nitrogen, and 140 kg ha -1 under variable rate of nitrogen. The nitrogen source was urea applied on the soil surface using a distributor equipped with the crop sensor. In this study, the grain yield ranged from 10.2 to 15.5 Mg ha-1, with linear response to nitrogen rates. The variable rate of nitrogen increased by 11.8 and 32.6% the nitrogen uptake and nitrogen use efficiency, respectively, compared to the uniform rate of nitrogen. However, no significant increase in grain yield was observed, indicating that the major benefit of the variable rate of nitrogen was reducing the risk of environmental impact of fertilizer.