A decision- theoretic model for M&A sale processes

A Work Project, presented as part of the requirements for the Award of a Masters Double Degree in Economics and International Business from the NOVA – School of Business and Economics and Insper Instituto de Ensino e Pesquisa

Parental Leave and Mothers' Careers: The Relative Importance of Job Protection and Cash Benefits

Job protection and cash benefits are key elements of parental leave (PL) systems. We study how these two policy instruments affect return-to-work and medium-run labour market outcomes of mothers of newborn children. Analysing a series of major PL policy changes in Austria, we find that longer cash benefits lead to a significant delay in return-to-work, particularly so in the period that is job-protected. Prolonged parental leave absence induced by these policy changes does not appear to hurt mothers' labour market outcomes in the medium run. We build a non-stationary model of job search after childbirth to isolate the role of the two policy instruments. The model matches return-to-work and return to same employer profiles under the various factual policy configurations. Counterfactual policy simulations indicate that a system that combines cash with protection dominates other systems in generating time for care immediately after birth while maintaining mothers' medium-run labour market attachment.

A framework for understanding the factors that influence spectators' recall and recognition of embedded sponsorship stimuli

Now, more than ever, sponsors of athletic events demand to see evidence of a commercial return, such as enhanced brand awareness, for their investment of cash or non-cash resources (Lough et aI., 2000). The most common way to measure the impact of perimeter signage (Le., any billboard or sign that displays a company's brand name and/or logo and which surrounds the playing area) on spectators' awareness of event sponsors has been through the use of brand name recall and recognition tests (Shilbury & Berriman, 1996). Recall testing requires spectators to list all of the sponsors they can remember seeing at, for example, an athletic event, strictly from memory and without any help (Cuneen & Hannan, 1993). With recognition testing, spectators are required to identify sponsors from a prepared list which include "dummy" brand names (i.e., sponsors that are present in the list but which do not actually sponsor the event). In order to determine whether sponsors' brand awareness objectives are being met, it is important for sport and recreation marketers to understand what influences a spectator's ability to remember (Le., recall and/or recognize) the brand names of companies who advertise on perimeter signage. The purpose this study was to examine the factors that influence spectators' recall and recognition of embedded sponsorship stimuli (i.e., company brand names on perimeter signage surrounding the play area) at a Canadian University's men's basketball game and football game. These factors included the number of games spectators attended over the course of the season (i.e., repeated exposure to sponsorship stimuli), spectators' level of involvement with the event, and spectators' level of involvement with the advertisements (i.e., perimeter signage). This study also examined the differences between recall and recognition as a means of measuring spectators' awareness of sponsors, and attempted to determine if there are sport differences in spectators' recall and recognition of perimeter signage. Upon leaving the football stadium or gymnasium, spectators were approached, at random, by trained research assistants located at each exit and asked to complete a brief survey questionnaire. Respondents completed the survey on-site. A total of 358 completed surveys were collected from spectators who attended the football (N = 277) and basketball (N = 81) games. The data suggest that football and basketball respondents recognized more sponsors' brand names than they recalled. In addition, football respondents who were highly involved with the event (i.e., those individuals who viewed attending the events as fun, interesting and exciting) attended more games over the course of the season and had significantly higher brand name recognition of sponsors who advertised on perimeter signage than those individuals with low involvement with the athletic event. Football respondents who were highly involved with the sponsors' advertisements (i.e., those individuals who viewed sponsors' perimeter signage as appealing, valuable and important) had significantly higher brand name recall of event sponsors than those individuals with low involvement with these sponsors' advertisements. Repeated exposure to perimeter signage did not have a significant influence on football or basketball respondents' recall or recognition of sponsors. Finally, the data revealed that football respondents had significantly higher recall of sponsors' brand names than basketball respondents. Conversely, basketball respondents had significantly higher recognition of sponsors' brand names than did football respondents.

L’impact de la commercialisation de la recherche académique sur les responsabilités du chercheur biomédical

Nous assistons depuis quelques années à une commercialisation de la recherche académique. Celle-ci est principalement due à une déficience marquée du financement public. Par conséquent,  les universités se tournent vers d’autres sources de financement, tels les brevets et l’industrie privée. En parallèle, les gouvernements et les organismes subventionnaires favorisent cette commercialisation par la promotion de programmes de partenariats université-industrie et par la mise en place de stratégies pour l’innovation et le transfert des technologies. Prenant comme modèle le chercheur académique dans le domaine de la santé, nous avons évalué l’impact de cette commercialisation sur les responsabilités du chercheur envers la science et la société. Ce nouveau mode de fonctionnement comporte certes des avantages. Par exemple, il résulte en une injection de fonds nouveaux pour la recherche, un développement des infrastructures universitaires et  un transfert de technologies plus efficace, permettant ainsi à la population de bénéficier plus rapidement des bienfaits de la recherche. Cependant, notre réflexion révèle que cette commercialisation comporte aussi des impacts négatifs sur la recherche académique. En effet, on observe l’apparition de conflits d’intérêts pour le chercheur. En plus de constituer une menace pour la sécurité de la population, ces situations causent l’effritement du lien de confiance entre la société et les chercheurs académiques, lien qui est essentiel pour assurer la progression du savoir humain. La commercialisation porte aussi atteinte à la liberté académique, effet que l’on peut observer tant au plan de l’orientation des recherches qu’à celui de la diffusion de ses résultats. Or, la liberté académique est une valeur fondamentale qui a été défendue depuis le Moyen Âge comme étant essentielle pour la progression du savoir humain. Le potentiel commercial devient un facteur dans l’évaluation des projets de recherche académique alors que, traditionnellement, l’avancement des connaissances la guidait essentiellement. Ainsi, la recherche appliquée devient favorisée au détriment de la recherche fondamentale. Ce virage commercial peut bénéficier à la société à court terme mais, à long terme, l’évolution de la société est menacée. La recherche appliquée et la recherche fondamentale sont toutes deux essentielles à l’avancement de la société, apportant chacune leur lot de bénéfices pour cette dernière. La commercialisation de la recherche académique ne doit donc pas résulter en une diminution progressive de la recherche fondamentale au profit de la recherche appliquée.  Bien que les chercheurs académiques soient conscients de l’importance de préserver la recherche fondamentale, cette protection ne peut s’opérer sans le support actif des organismes subventionnaires, des gouvernements et de la société en général.

An analysis of household farm investment decisions under varying land tenure arrangements in Ghana

Land tenure insecurity is widely perceived as a disincentive for long-term land improvement investment hence the objective of this paper is to evaluate how tenure (in)security associated with different land use arrangements in Ghana influenced households’ plot level investment decisions and choices. The paper uses data from the Farmer-Based Organisations (FBO) survey. The FBO survey collected information from 2,928 households across three ecological zones of Ghana using multistaged cluster sampling. Probit and Tobit models tested the effects of land tenancy and ownership arrangements on households’ investment behaviour while controlling other factors. It was found that marginal farm size was inversely related to tenure insecurity while tenure insecurity correlate positively with value of farm land and not farm size. Individual ownership and documentation of land significantly reduced the probability of households losing uncultivated lands. Individual land ownership increased both the probability of investing and level of investments made in land improvement and irrigation probably due to increasing importance households place on land ownership. Two possible explanations for this finding are: First, that land markets and land relations have changed significantly over the last two decades with increasing money transaction and fixed agreements propelled by population growth and increasing value of land. Secondly, inclusion of irrigation investment as a long term investment in land raises the value of household investment and the time period required to reap the returns on the investments. Households take land ownership and duration of tenancy into consideration if the resource implications of land investments are relatively huge and the time dimension for harvesting returns to investments is relatively long.

Educação, qualificação profissional e mercado de trabalho : estudo sobre os impactos na educação da expansão econômica do complexo industrial de SUAPE/PE/Brasil

Essa pesquisa teve como preocupação central conhecer a avaliação que os estudantes do 3° ano do ensino médio da educação básica acerca da educação fornecida pela rede estadual de ensino no estado de Pernambuco quanto à preparação para o mercado de trabalho, especialmente na região do Complexo Industrial de Suape em Pernambuco, Brasil. A pesquisa contou com a participação de 130 alunos que estudavam em duas escolas do município de Ipojuca - onde se localiza o referido Complexo Industrial -, e com 07 autoridades ligadas a educação – responsáveis pelas políticas públicas nessa região e em todo estado – em Pernambuco e nas cidades do Cabo de Santo Agostinho e Ipojuca. Foram aplicados um questionário validado aos alunos e uma entrevista semi-estruturada as autoridades (secretários de estado, gerentes regionais) em educação. Na análise quantitativa fizemos uso do programa SPSS; enquanto que na análise qualitativa utilizamos a análise de discurso. A partir dos dados obtidos conseguimos como resultado que os alunos acreditam que a escola não os prepara adequadamente para o ingresso e permanência no mercado de trabalho, e acreditam ainda, que para que essa constatação possa ser modificada é preciso que haja um investimento maior na qualidade da educação como prioridade em nosso estado e em nosso país. Nesse sentido, analisamos que mesmo com todos os avanços que estão ocorrendo no Brasil, com programas e leis de incentivo a educação básica e profissional, a sociedade globalizada exige cada vez mais investimentos em educação, e que ela deixe de ser dual e torne-se integrada e onilateral, fazendo com que os alunos consigam acreditar na educação e, a partir dela se tornem sujeitos críticos e com oportunidades de ingresso no mercado com as competências que lhe são exigidas para tal fim.

Plant variety protection, innovation, and transferability: Some empirical evidence

Under the Agreement on Trade-Related Aspects of Intellectual Property Rights, all member-countries of the World Trade Organization are required to provide an "effective" system of plant variety protection within a specific time frame. In many developing countries, this has led to a divisive debate about the fundamental desirability of extending intellectual property rights to agriculture. Empirical studies on the economic impacts of plant variety protection, especially its ability to generate large private sector investments in plant breeding and to facilitate the transfer of technology, have been very limited. This paper examines two aspects of the international experience of plant variety protection: (a) the relationship between legislation, research, and development expenditures and plant variety protection grants, i.e., the innovation effect and (b) the role of plant variety protection in facilitating the flow of varieties across countries, i.e., the transferability effect.

Protein-disulfide isomerase-mediated reduction of two disulfide bonds of HIV envelope glycoprotein 120 occurs post-CXCR4 binding and is required for fusion

The human immunodeficiency virus (HIV) envelope (Env) glycoprotein (gp) 120 is a highly disulfide-bonded molecule that attaches HIV to the lymphocyte surface receptors CD4 and CXCR4. Conformation changes within gp120 result from binding and trigger HIV/cell fusion. Inhibition of lymphocyte surface-associated protein-disulfide isomerase (PDI) blocks HIV/cell fusion, suggesting that redox changes within Env are required. Using a sensitive assay based on a thiol reagent, we show that (i) the thiol content of gp120, either secreted by mammalian cells or bound to a lymphocyte surface enabling CD4 but not CXCR4 binding, was 0.5-1 pmol SH/pmol gp120 (SH/gp120), whereas that of gp120 after its interaction with a surface enabling both CD4 and CXCR4 binding was raised to 4 SH/gp120; (ii) PDI inhibitors prevented this change; and (iii) gp120 displaying 2 SH/gp120 exhibited CD4 but not CXCR4 binding capacity. In addition, PDI inhibition did not impair gp120 binding to receptors. We conclude that on average two of the nine disulfides of gp120 are reduced during interaction with the lymphocyte surface after CXCR4 binding prior to fusion and that cell surface PDI catalyzes this process. Disulfide bond restructuring within Env may constitute the molecular basis of the post-receptor binding conformational changes that induce fusion competence.

Metabolic syndrome: what is it and what are the implications?

Obesity and overweight are linked with a cluster of metabolic and vascular disorders that have been termed the metabolic syndrome. Although there is not yet a universally-accepted set of diagnostic criteria, most expert groups agree that the syndrome is characterised by impaired insulin sensitivity and hyperglycaemia, dyslipidaemia (elevated blood triacyglycerols with depressed HDL-cholesterol), abdominal obesity and hypertension. Based on existing published criteria estimates suggest that the syndrome affects a substantial percentage of the middle-aged and elderly populations of most European countries (10-20%) and confers increased risk of type 2 diabetes (2-8(.)8-fold) and CVD (1(.)5-6-fold), as well as having a marked effect on morbidity. Although the pathophysiology is incompletely understood, insulin resistance and abdominal obesity are central to subsequent abnormalities in circulating glucose and lipoproteins, and vascular function that lead to type 2 diabetes, atherosclerosis and CVD. The link between metabolic syndrome, type 2 diabetes and CVD, as well as inability to reverse the present rising rates of obesity, will lead to economically-unsustainable costs of health care in the next 10-20 years. Preventative strategies for metabolic syndrome are required to slow rates of progression and to reduce dependence on costly medical management. A notable development is recent evidence that shows that diet and exercise are more effective than drug treatment in preventing the development of type-2 diabetes in high-risk individuals. The LIPGENE project will investigate dietary fat quality as a strategy for the prevention of metabolic syndrome and identify food chain approaches that can support consumer attempts to alter their dietary patterns.

Are herbal remedies and dietary supplements safe and effective for breast cancer patients?

There remains limited scientific evidence on the efficacy and safety of 'natural' therapies such as herbal remedies and dietary supplements. Nevertheless, breast cancer patients are particularly prone to purchasing such products because of the perception that 'natural' products are less toxic than conventional prescribed medicines. However, the potential for interactions of supplements with current medications, the potential for adverse effects from consumption at high levels, and the lack of disclosure of such treatments by the patient to their doctor are serious public health issues. Robust clinical trials are required to prove the efficacy and lack of adverse effects of such preparations, and communication between patients and doctors must be improved and doctors made more aware that their patients may be seeking advice and treatment from sources outside conventional medicine.

Transcriptional regulators of the GAD acid stress island are carried by effector protein-encoding prophages and indirectly control type III secretion in enterohemorrhagic Escherichia coli O157:H7

P>Type III secretion (T3S) plays a pivotal role in the colonization of ruminant hosts by Enterohemorrhagic Escherichia coli (EHEC). The T3S system translocates effector proteins into host cells to promote bacterial attachment and persistence. The repertoire and variation in prophage regions underpins differences in the pathogenesis and epidemiology of EHEC strains. In this study, we have used a collection of deletions in cryptic prophages and EHEC O157 O-islands to screen for novel regulators of T3S. Using this approach we have identified a family of homologous AraC-like regulators that indirectly repress T3S. These prophage-encoded secretion regulator genes (psr) are found exclusively on prophages and are associated with effector loci and the T3S activating Pch family of regulators. Transcriptional profiling, mutagenesis and DNA binding studies were used to show that these regulators usurp the conserved GAD acid stress resistance system to regulate T3S by increasing the expression of GadE (YhiE) and YhiF and that this regulation follows attachment to bovine epithelial cells. We further demonstrate that PsrA and effectors encoded within cryptic prophage CP933-N are required for persistence in a ruminant model of colonization.

Segmenting the Italian coffee market: marketing opportunities for economic agents working along the international coffee chain

Globalization, either directly or indirectly (e.g. through structural adjustment reforms), has called for profound changes in the previously existing institutional order. Some changes adversely impacted the production and market environment of many coffee producers in developing countries resulting in more risky and less remunerative coffee transactions. This paper focuses on customization of a tropical commodity, fair-trade coffee, as an approach to mitigating the effects of worsened market conditions for small-scale coffee producers in less developed countries. fair-trade labeling is viewed as a form of “de-commodification” of coffee through product differentiation on ethical grounds. This is significant not only as a solution to the market failure caused by pervasive information asymmetries along the supply chain, but also as a means of revitalizing the agricultural-commodity-based trade of less developed countries (LDCs) that has been languishing under globalization. More specifically, fair-trade is an example of how the same strategy adopted by developed countries’ producers/ processors (i.e. the sequence product differentiation - institutional certification - advertisement) can be used by LDC producers to increase the reputation content of their outputs by transforming them from mere commodities into “decommodified” (i.e. customized and more reputed) goods. The resulting segmentation of the world coffee market makes possible to meet the demand by consumers with preference for this “(ethically) customized” coffee and to transfer a share of the accruing economic rents backward to the Fair-trade coffee producers in LDCs. It should however be stressed that this outcome cannot be taken for granted since investments are needed to promote the required institutional innovations. In Italy FTC is a niche market with very few private brands selling this product. However, an increase of FTC market share could be a big commercial opportunity for farmers in LDCs and other economic agents involved along the international coffee chain. Hence, this research explores consumers’ knowledge of labels promoting quality products, consumption coffee habits, brand loyalty, willingness to pay and market segmentation according to the heterogeneity of preferences for coffee products. The latter was assessed developing a D-efficient design where stimuli refinement was tested during two focus groups.

Pigeons (Columba livia) are a suitable experimental model for Neospora caninum infection in birds

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Educação permanente em saúde: uma estratégia para a formação dos agentes comunitários de saúde

Este artigo teve por objetivo descrever e analisar o processo de educação dos Agentes Comunitários da Saúde (ACS) utilizado pelos enfermeiros na Estratégia Saúde da Família. Trata-se de uma pesquisa qualitativa, e contou com 17 sujeitos. Para a coleta de dados, utilizou-se entrevista semiestruturada, e a análise dos dados foi realizada por meio da técnica de análise de conteúdo. Identificou-se a categoria: organização do processo de educação nas unidades de saúde da família, cujas temáticas elencadas foram: enfermeiros como líderes da equipe de referência, educação permanente, metodologias tradicionais e educação centrada nas necessidades dos ACS. Através deste estudo, pudemos compreender que os enfermeiros têm pouco contato com a ferramenta da Educação Permanente, realizando as atividades de capacitação fundamentadas na metodologia tradicional de ensino, sendo necessário um investimento dos gestores no sentido de capacitá-los, no que se refere à educação permanente, possibilitando-lhes a atuação com os ACS.

Polymorphisms in antithrombin and in tissue factor pathway inhibitor genes are associated with recurrent pregnancy loss

Recurrent pregnancy loss (RPL) is a multifactorial condition. The effect of antithrombin (SERPINC1), protein C (PROC), thrombomodulin (THBD) and tissue factor pathway inhibitor (TFPI) single nucleotide polymorphisms (SNPs) on the risk of RPL is thus far unknown. Our objective was to determine the association of SNPs in the above mentioned genes with RPL. We included 117 non-pregnant women with three or more consecutive losses prior to 20 weeks of pregnancy without a previous history of carrying a fetus to viability, and 264 healthy fertile non-pregnant women who had at least two term deliveries and no known pregnancy losses. The PROC (rs1799809 and rs1799808), SERPINC1 (rs2227589), THBD (rs1042579) and TFPI (rs10931292, rs8176592 and rs10153820) SNPs were analysed by Real Time PCR. Genotype frequencies for PROC 2418A > G, PROC 2405C > T, THBD 1418C > T, TFPI (T-33C and TFPI C-399T) SNPs were similar in cases and controls. The carriers of SERPINC1 786A allele (GA + AA genotypes) had an increased risk for RPL (odds ratio [OR]: 1.77, 95% confidence interval [CI]: 1.05-3.00, p=0.034) while women carrying the TFPI-287C allele (TC + CC genotypes) had a protection effect on having RPL (OR: 0.46, 95% CI: 0.26 - 0.83, p=0.009). The TCC haplotype for TFPI T-33C/TFPI T-287C/TFPI C-399T SNPs was less frequent in cases (5.7%) than in controls (11.6%) (OR: 0.45, 95% CI: 0.23 - 0.90, p=0.025). In conclusion, our data indicate that SERPINC1 786G > A variant increases the risk for RPL, while TFPI T-287C variant is protective; however, further studies are required to confirm our findings.