Distribuição de compostos organoclorados nas águas e sedimentos da bacia do rio Piracicaba/SP - Brasil

The great utilization of synthetic and persistent xenobiotic cumulative compounds is the main causes of the deterioration of aquatic ecosystems. The one of objective of this work was the determination of the organochlorine levels in the Piracicaba river basin, situated at the center of São Paulo state. Four PCBs congeners, PCP and HCB were determined by GC-ECD in two different matrices: water and sediments. The pattern of the compound distribution indicated a dominance of PCP, HCB and PCB-200. The results indicated contamination in the sampling points located in Campinas, Piracicaba, Santa Bárbara d'Oeste and Sumaré cities.

Do innovation and human capital explain the productivity gap between small and large firms?

Empirical evidence is compelling that large firms are more productive than small firms. The hypothesis in this paper is that the productivity differences between small and large firms are associated with two of the main determinants of a firm’s performance: the human and technological capital that firms incorporate. We suggest that the contribution of these factors in explaining the productivity-size gap might not only be due to the fact that large firms make a more extensive use of them, but also because large firms obtain higher returns from their investment in human and technological capital. The evidence we obtain for a comprehensive sample of Spanish manufacturing firms (1990-2002) supports this hypothesis, which has important implications for the effectiveness of policies designed to improve productivity in SMEs by stimulating innovation and the use of more skilled workers.

Does human capital stimulate investment in physical capital? Evidence from a cost system framework

The direct effect of human capital on economic growth has been widely analysed in the economic literature. This paper, however, focuses on its indirect effect as a stimulus for private investment in physical capital. The methodological framework used is the duality theory, estimating a cost system aggregated with human capital. Empirical evidence is given for Spain for the period 1980-2000. We provide evidence on the indirect effect of human capital in making private capital investment more attractive. Among the main explanations for this process, we observe that higher worker skill levels enable higher returns to be extracted from investment in physical capital.

Regional returns to physical capital: are they conditioned by educational attainment?

This paper provides novel empirical evidence of the indirect effect of educational attainment on regional economic growth, through its influence on the profitability of investment in physical capital. We test the hypothesis that the regional heterogeneity of the return to physical capital can be directly related to the existing heterogeneity in the educational attainment of workers. The results for the Spanish case support our hypothesis that the higher the educational attainment of workers the greater the returns on investment in physical capital. In fact, this effect seems to be sufficiently strong to have counterbalanced the traditional mechanism of decreasing returns to capital accumulation.

Distribuição de metais pesados em sedimentos do sistema estuarino da Ilha de Vitória-ES

Heavy-metal concentration in sediment is an important parameter for identifying pollution sources and assessing pollution levels in aquatic ecosystems. In this context, the present study aimed at determining concentrations of heavy metals in sediments from the Vitória estuarine system, Brazil. Twenty nine stations were surveyed to assess the spatial distribution of heavy metals. The metals for silt-clay fractions (<63 µm) were analyzed through atomic absorption spectrometry. A discriminant analysis segregated the stations in four groups representing four areas within the estuarine system. The Espírito Santo Bay showed the lowest metal concentrations, while the Vitória harbor canal showed the highest. We concluded that concentrations of heavy metals reflect natural conditions and the contribution of human activities from sewage and industrial effluents. It was not possible to directly associate metal concentrations to specific pollution sources.

Management Estratégico. Su aplicación en la Gestión del Conocimiento y el Capital Humano

Es un libro en el que he tratado de destacar la cada día mayor vinculación existente entre las personas y el logro de la misión u objetivo supremo de la empresa. En la actualidad y en los próximos años, es imposible pensar que la empresa pueda alcanzar su misión sin una adecuada coordinación entre las personas y la estructura organizativa, teniendo en cuenta que el conocimiento es la base de todo ello lográndose a través de una determinada estrategia.

Distribuição de mercúrio total como indicador de poluição urbana e industrial na costa brasileira

The monitoring of the pollution status of the Brazilian coast is hampered by the lack of a consistent environmental indicator. We propose Hg as an environmental proxy to anthropogenic pollution of coastal regions due to its absence in the Brazilian geology, its ubiquity in anthropogenic effluents, and its toxicity. Available data suggest Hg "backgrounds" in coastal sediments of 1-10 ng g-1, in the East and 15-30 ng g-1 in the South. We suggest short sediment cores to establish these values estimating a geo-accumulation index to compare all areas. The distribution of index values showed the majority of southern coast at least moderately contaminated whereas many eastern areas are still pristine.

Local human capital and productivity: An analysis for Spanish regions

In this paper, we examine the relationship between the stock of human capital and productivity in the Spanish regions (NUTS III), and assess whether the transmission channel involves external economies. The empirical evidence points to a positive relationship between the two variables, although it cannot be explained in terms of the impact of exogenous local human capital external economies, but rather in terms of other demand factors.

Ex-Dividend Day Returns when Dividend and Capital Gains are Taxed at the Same Rate

Due to the overwhelming international evidence that stock prices drop by less than the dividend paid on ex-dividend days, the ex-dividend day anomaly is considered a stylized fact. Two main approaches have emerged to explain this empirical regularity: the tax-clientele hypothesis and the microstructure of financial markets. Although the most widely accepted explanation for this fact relies on taxes, the ex-dividend day anomaly has been reported even in countries where neither dividends nor capital gains are taxed. The 2006 tax reform in Spain established the same tax rate for dividends and capital gains. This paper investigates stock returns on ex-dividend days in the Spanish stock market after the 2006 tax reform using a random coefficient model. Contrary to previous research, we do not observe an ex-dividend day anomaly. Unlike previous investigations, which are mostly concerned with suggesting explanations as to why this anomaly has occurred, we are in the somewhat strange position of discussing why this anomaly has not occurred. Our findings are robust across companies and stock dividend yields, thus supporting a tax--based explanation for the ex-dividend day anomaly.

Capital Structure of Finnish SMEs and Financial Constraints

This thesis studies capital structure of Finnish small and medium sized enterprises. The specific object of the study is to test whether financial constraints have an effect on capital structure. In addition influences of several other factors were studied. Capital structure determinants are formulated based on three capital structure theories. The tradeoff theory and the agency theory concentrate on the search of optimal capital structure. The pecking order theory concerns favouring on financing source over another. The data of this study consists of financial statement data and results of corporate questionnaire. Regression analysis was used to find out the effects of several determinants. Regression models were formed based on the presented theories. Short and long term debt ratios were considered separately. The metrics of financially constrained firms was included in all models. It was found that financial constrains have a negative and significant effect to short term debt ratios. The effect was negative also to long term debt ratio but not statistically significant. Other considerable factors that influenced debt ratios were fixed assets, age, profitability, single owner and sufficiency of internal financing.

Determinação do coeficiente de distribuição (Kd) de benzo(a)pireno em solo por isotermas de sorção

Leaking of diesel oil from gas stations is frequent in Brazil. The presence of polycyclic aromatic hydrocarbons (PAHs), which are highly toxic is an indication of contamination by heavy hydrocarbons from diesel oil. Here were present the determination of the distribution coefficient (Kd) of benzo(a)pyrene (the most carcinogenic of the PAHs) in tropical soils using the sorption isotherm model. The sorption curves acquired for benzo(a)pyrene were of the S-type, probably due to the water/methanol experimental conditions. The sorption curves allowed calculation of the distribution coefficient (Kd). The experimental Kd values were lower than those calculated from literature Koc values (partition coefficient normalized by organic carbon), due mainly to the cosolvency effect and the percentage of organic matter and clay in soil.

Desempenho físico-químico de metais e estruturas de concreto de redes de distribuição de energia: estudo de caso na região de Manaus

The influence of natural aging furthered by atmospheric corrosion of parts of electric transformers and materials, as well as of concrete poles and cross arms containing corrosion inhibitors was evaluated in Manaus. Results for painted materials, it could showed that loss of specular gloss was more intensive in aliphatic polyurethane points than in acrylic polyurethane ones. No corrosion was observed for metal and concrete samples until 400 days of natural aging. Corrosion in steel reinforcement was noticed in some poles, arising from manufacturing faults, such as low cement content, water/cement ratio, thin concrete cover thickness, etc. The performance of corrosion inhibitors was assessed by many techniques after natural and accelerated aging in a 3.5% saline aqueous solution. The results show the need for better chemical component selection and its concentration in the concrete mixture.

La tributación de las rentas de capital en los Estados miembros de la Comunidad Europea

El artículo trata sobre la tributación de las rentas de capital de los estados miembros de la Comunidad Europea en lo referente a intereses y dividendos y en lo que afecta a variaciones patrimoniales.

Distribuição espacial de ferro, cobre e chumbo em sedimentos de manguezal em um gradiente de degradação na Baía de Guanabara (Estado do Rio de Janeiro)

Iron, copper and lead distribution was evaluated in sediment cores from a disturbed mangrove area in Guanabara Bay: a core from a seaward site where mangrove vegetation was removed ~20 yr before sampling (MD); a core from an intermediate site with dead vegetation, apparently due to insect attack (MP), and a core from a landward site with living vegetation (MV). Metal concentrations showed increasing values seaward while organic matter content showed an inverse trend, displaying a negative correlation with metals. This unusual correlation indicates opposite sources, since metals come from the bay and the main OM origin is probably degraded mangrove vegetation. Plant cover loss seems to be a critical factor affecting metal accumulation, particularly due to changes in OM input.

The Management of Intellectual Capital in the Early Phases of Project Marketing

This study aims at enhancing understanding and deriving new constructs about the management of intellectual capital in the early phases of project marketing. The research methodology employed is deductive; conceptual reasoning is based on existing literature. The study's knowledge base is drawn from the bodies of literature dealing with project, relationship, and industrial marketing, as well as from the literature dealing with mechanical engineering, network approach, systems selling, R&D, project portfolio, strategic, financial, and knowledge management. As a result, three processes, 32 summaries and 19 conclusions give to the management of intellectual capital meaning in the context of project marketing. These conclusions and synthesis are proposed to improve the existing concepts and models in project marketing.