Determinantes da taxa de aluguel de ações no Brasil

Esse trabalho analisa as características do mercado de aluguel de ações no Brasil entre agosto de 2007 e agosto de 2010, e busca identificar quais fatores contribuem, ou influenciam, na formação do preço cobrado para se alugar uma ação. Os resultados mostram que o volume de negócios das ações, a variável de risco relativo ao mercado, o fato de possuírem opções negociadas com base no ativo objeto, se estão prestes a pagar juros sobre capital próprio, se consideradas empresas de pequeno porte, e se pertencem a determinados setores de negócios, apresentam influencia estatística sobre a formação da taxa de aluguel.

Determinantes da taxa de aluguel nas cidades de São Paulo e Rio de Janeiro

Este trabalho analisa a variação da taxa de aluguel e do custo de moradia nas cidades de São Paulo e Rio de Janeiro para o período de Janeiro de 2008 a Janeiro de 2014 utilizando uma abordagem quantitativa com base na expectativa de longo prazo da taxa de juros reais, na expectativa de inflação e na valorização do preço dos imóveis em uma janela de 1 ano. Os resultados indicam que a expectativa de longo prazo da taxa de juros reais tem um impacto relevante na variação da taxa de aluguel durante o período abordado, bem como a expectativa de inflação, mas em magnitude menor, enquanto a valorização passada de 1 ano não tem poder explicativo sobre a taxa de aluguel.

The Brazilian real state market in 2012: robust growth or speculative bubble?

A forte alta dos imóveis no Brasil nos últimos anos iniciou um debate sobre a possível existência de uma bolha especulativa. Dada a recente crise do crédito nos Estados Unidos, é factível questionar se a situação atual no Brasil pode ser comparada à crise americana. Considerando argumentos quantitativos e fundamentais, examina-se o contexto imobiliário brasileiro e questiona-se a sustentabilidade em um futuro próximo. Primeiramente, analisou-se a taxa de aluguel e o nível de acesso aos imóveis e também utilizou-se um modelo do custo real para ver se o mercado está em equilíbrio o não. Depois examinou-se alguns fatores fundamentais que afetam o preço dos imóveis – oferta e demanda, crédito e regulação, fatores culturais – para encontrar evidências que justificam o aumento dos preços dos imóveis. A partir dessas observações tentou-se chegar a uma conclusão sobre a evolução dos preços no mercado imobiliário brasileiro. Enquanto os dados sugerem que os preços dos imóveis estão supervalorizados em comparação ao preço dos aluguéis, há evidências de uma legítima demanda por novos imóveis na emergente classe média brasileira. Um risco maior pode estar no mercado de crédito, altamente alavancado em relação ao consumidor brasileiro. No entanto, não se encontrou evidências que sugerem mais do que uma temporária estabilização ou correção no preço dos imóveis.

A new geological model of Cenozoic New Zealand suggests a complex phylogeographic history for New Zealand terrestrial taxa

The new model of North Island Cenozoic palaeogeography developed by Kamp et al. has a range of important implications for the evolution of New Zealand terrestrial taxa over the past 30 Ma. Key aspects include the prolonged isolation of the biota on the North Island landmass from the larger and more diverse greater South Island, and the founding of North Island taxa from the potentially unusual ecosystem of a small island around Northland. The prolonged period of isolation is expected to have generated deep phylogenetic splits within taxa present on both islands, and an important current aim should be to identify such signals in surviving endemics to start building a picture of the historical phylogeography, and inferred ecology of both islands through the Cenozoic. Given the potential differences in founding terrestrial species and climatic conditions, it seems likely that the ecology may have been very diferent between the North and South Islands. New genetic data from the 10 or so species of extinct moa suggest that the radiation of moa was much more recent than previously suggested, and reveals a complex pattern that is inferred to result from the interplay of the Cenozoic biogeography, marine barriers, and glacial cycles.

Wing shape as a potential discriminator of morphologically similar pest taxa within the Bactrocera dorsalis species complex (Diptera: Tephritidae)

Four morphologically cryptic species of the Bactrocera dorsalis fruit fly complex (B. dorsalis s.s., B. papayae, B. carambolae and B. philippinensis) are serious agricultural pests. As they are difficult to diagnose using traditional taxonomic techniques, we examined the potential for geometric morphometric analysis of wing size and shape to discriminate between them. Fifteen wing landmarks generated size and shape data for 245 specimens for subsequent comparisons among three geographically distinct samples of each species. Intraspecific wing size was significantly different within samples of B. carambolae and B. dorsalis s.s. but not within samples of B. papayae or B. philippinensis. Although B. papayae had the smallest wings (average centroid size=6.002 mm±0.061 SE) and B. dorsalis s.s. the largest (6.349 mm±0.066 SE), interspecific wing size comparisons were generally non-informative and incapable of discriminating species. Contrary to the wing size data, canonical variate analysis based on wing shape data discriminated all species with a relatively high degree of accuracy; individuals were correctly reassigned to their respective species on average 93.27% of the time. A single sample group of B. carambolae from locality 'TN Malaysia' was the only sample to be considerably different from its conspecific groups with regards to both wing size and wing shape. This sample was subsequently deemed to have been originally misidentified and likely represents an undescribed species. We demonstrate that geometric morphometric techniques analysing wing shape represent a promising approach for discriminating between morphologically cryptic taxa of the B. dorsalis species complex.

Genes and growth performance in crustacean species : a review of relevant genomic studies in crustaceans and other taxa

Global aquaculture has expanded rapidly to address the increasing demand for aquatic protein needs and an uncertain future for wild fisheries. To date, however, most farmed aquatic stocks are essentially wild and little is known about their genomes or the genes that affect important economic traits in culture. Biologists have recognized that recent technological advances including next generation sequencing (NGS) have opened up the possibility of generating genome wide sequence data sets rapidly from non-model organisms at a reasonable cost. In an era when virtually any study organism can 'go genomic', understanding gene function and genetic effects on expressed quantitative trait locus phenotypes will be fundamental to future knowledge development. Many factors can influence the individual growth rate in target species but of particular importance in agriculture and aquaculture will be the identification and characterization of the specific gene loci that contribute important phenotypic variation to growth because the information can be applied to speed up genetic improvement programmes and to increase productivity via marker-assisted selection (MAS). While currently there is only limited genomic information available for any crustacean species, a number of putative candidate genes have been identified or implicated in growth and muscle development in some species. In an effort to stimulate increased research on the identification of growth-related genes in crustacean species, here we review the available information on: (i) associations between genes and growth reported in crustaceans, (ii) growth-related genes involved with moulting, (iii) muscle development and degradation genes involved in moulting, and; (iv) correlations between DNA sequences that have confirmed growth trait effects in farmed animal species used in terrestrial agriculture and related sequences in crustacean species. The information in concert can provide a foundation for increasing the rate at which knowledge about key genes affecting growth traits in crustacean species is gained.

Reconciling folksonomic tagging with taxa for bioacoustic annotations

Acoustic sensors are increasingly used to monitor biodiversity. They can remain deployed in the environment for extended periods to passively and objectively record the sounds of the environment. The collected acoustic data must be analyzed to identify the presence of the sounds made by fauna in order to understand biodiversity. Citizen scientists play an important role in analyzing this data by annotating calls and identifying species. This paper presents our research into bioacoustic annotation techniques. It describes our work in defining a process for managing, creating, and using tags that are applied to our annotations. This paper includes a detailed description of our methodology for correcting and then linking our folksonomic tags to taxonomic data sources. Providing tools and processes for maintaining species naming consistency is critical to the success of a project designed to generate scientific data. We demonstrate that cleaning the folksonomic data and providing links to external taxonomic authorities enhances the scientific utility of the tagging efforts of citizen scientists.

Firmicutes dominate the bacterial taxa within sugar-cane processing plants

Sugar cane processing sites are characterised by high sugar/hemicellulose levels, available moisture and warm conditions, and are relatively unexplored unique microbial environments. The PhyloChip microarray was used to investigate bacterial diversity and community composition in three Australian sugar cane processing plants. These ecosystems were highly complex and dominated by four main Phyla, Firmicutes (the most dominant), followed by Proteobacteria, Bacteroidetes, and Chloroflexi. Significant variation (p , 0.05) in community structure occurred between samples collected from ‘floor dump sediment’, ‘cooling tower water’, and ‘bagasse leachate’. Many bacterial Classes contributed to these differences, however most were of low numerical abundance. Separation in community composition was also linked to Classes of Firmicutes, particularly Bacillales, Lactobacillales and Clostridiales, whose dominance is likely to be linked to their physiology as ‘lactic acid bacteria’, capable of fermenting the sugars present. This process may help displace other bacterial taxa, providing a competitive advantage for Firmicutes bacteria.

Genetic variation within two sympatric spotted gum eucalypts exceeds between taxa variation

Population substructure and hybridization, among other factors, have the potential to cause erroneous associations in linkage disequilibrium (LD) mapping. Two closely related spotted gum eucalypts, Corymbia variegata and C. henryi (Myrtaceae) occur in sympatry in the east coast of Australia and potentially interbreed. They are morphologically similar but are distinguished as separate species based on capsule and foliage size. To determine whether they hybridize in nature and its implications for LD mapping, we investigated the level of molecular divergence between the two species at two sympatric locations separated by 300 kilometres. Very few individuals of intermediate morphology were identified, despite the two species occurring only metres apart. Analysis of genetic structure using 12 microsatellite loci showed that genetic differentiation between populations of the same species at different locations (FST = 0.07 for both species; p = 0.0001) was significantly higher than that observed between species at each location (mean FST = 0.02 and 0.04 for Cherry tree and Bunyaville respectively; p = 0.0001; all Mann-Whitney U-test p ≤ 0.01). No species-specific alleles or significant allele frequency differences were detected within a site, suggesting recurrent local gene flow between the two species. The lack of significant allele frequency differences implies no population stratification along taxonomic lines. This suggested that there is little concern for cryptic hybridization when sampling from sites of sympatry for LD mapping.

Pyrrolizidine Alkaloids in Crotalaria Taxa from Northern Australia: Risk to Grazing Livestock.

Crotalaria species containing hepatotoxic pyrrolizidine alkaloids grow widely in pastures in northern Australia and have sporadically poisoned grazing livestock. The diverse Crotalaria taxa present in these pastures include varieties, subspecies, and chemotypes not previously chemically examined. This paper reports the pyrrolizidine alkaloid composition and content of 24 Crotalaria taxa from this region and assesses the risk of poisoning in livestock consuming them. Alkaloids present in C. goreensis, C. aridicola subsp. densifolia, and C. medicaginea var. neglecta lack the esterified 1,2-unsaturated functionality required for pyrrole adduct formation, and these taxa are not hepatotoxic. Taxa with high levels of hepatotoxic alkaloids, abundance, and biomass pose the greatest risk to livestock health, particularly C. novae-hollandiae subsp. novae-hollandiae, C. ramosissima, C. retusa var. retusa, and C. crispata. Other species containing moderate alkaloid levels, C. spectabilis and C. mitchellii, also pose significant risk when locally abundant.

Selecting hardwood taxa for wood and fibre production in Queensland's subtropics.

Optimal matching of species to sites is required for a sustainable hardwood plantation industry in the subtropics. This paper reports the performance and adaptation of 60 taxa (species, provenances and hybrids) across two rainfall zones and a range of soil types in southern Queensland. Specifically, performance of taxa is compared across five replicated taxon–site matching trials at age 6 y. Three trials are in a 1000-mm y–1 rainfall zone of the Wide Bay region near Miriam Vale and two in a drier (about 750 mm y–1) rainfall zone near Kingaroy in the South Burnett region. In the higher-rainfall zone, the taxa with the fastest growth in the three trials at age 6 y were Corymbia citriodora subsp. variegata Woondum provenance, which ranked 1st, 6th and 5th respectively; E. longirostrata Coominglah provenance, ranked 3rd, 2nd and 3rd; and two sources of E. grandis, Copperlode provenance (ranked 4th and 1st) and SAPPI seed orchard (ranked 6th and 4th), which were planted in only two of the three trials. Similarly, in the lower-rainfall zone, E. grandis and its hybrids appear promising from the 6-y growth data., This excellent early growth, however, has not continued in either rainfall zone, with these taxa, 8 y after planting, now showing signs of stress and mortality. Based on trial results in these two rainfall zones, the taxon that appears the most promising for sustainable plantation development with high average annual volume index values and low incidence of borer attack is Corymbia citriodora subsp. variegata (6.7 m³ ha–1). Eucalyptus grandis and E. longirostrata both have better average annual volume indexes (8.2 m³ ha–1 and 7.4 m³ ha–1 respectively) but are very susceptible to borer attack. The current and long-term productivity and sustainability of plantation forestry in these rainfall zones is discussed. Further, the implications of predicted climate change (particularly reduced rainfall) for growing trees for fibre production and carbon sequestration are explored.

DNA sequences and austral taxa indicate generic synonymy of Paratrichocladius Santos-Abreu with Cricotopus Wulp (Diptera: Chironomidae)

In the century since the description of the orthoclad genus Paratrichocladius Santos-Abreu (Diptera: Chironomidae), separation in any life stage from the cosmopolitan, diverse Cricotopus Wulp has been problematic. Molecular analysis reveals the presence of two species in Australia that conform in morphology to Paratrichocladius and which form a well-supported clade including Paratrichocladius micans (Kieffer) from Africa and a distinct southern African larva. This clade clusters with taxa allied with Cricotopus albitibia (Walker), in turn nested within all other sampled Australian Cricotopus. Relevant nodes strongly support Cricotopus as nonmonophyletic without inclusion of Paratrichocladius. We synonymize Paratrichocladius with Cricotopus syn.n, treating Paratrichocladius as a subgenus. Cricotopus (Paratrichocladius) australiensis Cranston sp.n. is described for Trichocladius pluriserialis Freeman from Australia, which is not the same species under that name in New Zealand. Cricotopus (Paratrichocladius) bifenestrus Cranston sp.n. from Australia is described, also in all life stages. The many new combinations, listed in an Appendix, include three replacement names for new secondary homonyms, namely: Cricotopus (Paratrichocladius) sinobicinctus Cranston & Krosch nom.n. for Paratrichocladius bicinctus Fu, Sæther & Wang, Cricotopus draysoni Cranston & Krosch nom.n. for Cricotopus brevicornis Drayson, Krosch & Cranston, and Cricotopus (Paratrichocladius) sikhotealinus Makarchenko & Makarchenko nom.n. for Cricotopus orientalis Kieffer. We conclude with comments on wider issues in the taxonomy of Paratrichocladius, especially concerning New Zealand species.

Phalangopsidae crickets from the Indian Region (Orthoptera, Grylloidea), with the descriptions of new taxa, diagnoses for genera, and a key to Indian genera

The Indian region is presently the second region after the Neotropics in terms of diversity of phalangopsid crickets. Yet their study is impeded by the lack of necessary taxonomic tools for taxon identification. In the present paper, all generic diagnoses are clarified, using morphological and genitalic characters; female genitalia are described and illustrated for all genera with known females. New taxa are described from southern India: Kempiola flavipunctatus Desutter-Grandcolas n. sp., Opiliosina meridionalis Desutter-Grandcolas n. gen., n. sp., Phalangopsina bolivari Desutter-Grandcolas n. sp., P. chopardi Desutter-Grandcolas n. sp., P. gravelyi Desutter-Grandcolas n. sp., and Speluncasina Desutter-Grandcolas n. gen. The list of phalangopsid crickets from the Indian Region is updated, and a key to phalangopsid genera proposed. A lectotype and a paralectotype are designated to fix the name of Phalangopsina dubia (Bolivar, 1900). Opilionacris annandalei Chopard, 1928, previously transferred to the African genus Phaeophilacris Walker, 1871, is transferred to the genus Speluncasina Desutter-Grandcolas n. gen., while Larandopsis jharnae Bhowmik, 1981 and L. newguineae Bhowmik, 1981 described from New Guinea are transferred to the eneopterine genus Lebinthus Stal, 1877. Finally Luzaropsis confusa Chopard, 1969 is removed from its synonymy with L. ferruginea Walker, 1871.

Como reduzir a taxa de juros

Consultoria Legislativa - Área IX - Política e Planejamento Econômicos, Desenvolvimento Econômico, Economia Internacional.

Cobrança, pelos municípios, de "taxa de iluminação pública" ou de "contribuição de iluminação pública"

Consultoria Legislativa - Área III - Tributação, Direito Tributário.