Falta de garantias e falhas de coordenação: evidências do sistema agroindustrial da carne bovina

O papel das instituições formais e informais na economia das organizações é tradicionalmente analisado em termos dos mecanismos eficientes de governança que minimizam os custos de transação. Baseada numa perspectiva inversa, a presente pesquisa foca nas falhas de coordenação e no problema da falta de garantias nas transações econômicas. Especificamente, examina-se o conjunto de garantias que suportam a transação entre pecuaristas e a indústria frigorífica em Mato Grosso do Sul com foco nas ineficiências do processo de comercialização de gado para abate. Para a compreensão das falhas de coordenação, propõe-se um constructo teórico baseado em Barzel (1997), que relaciona direitos de propriedade, garantias e instituições. Esse modelo é testado empiricamente por meio do desenvolvimento de duas regressões logísticas múltiplas: i) modelo logit ordenado baseado na percepção de risco dos pecuaristas e ii) modelo probit bivariado recursivo baseado na percepção de risco dos pecuaristas e no papel das ações coletivas. Os resultados apontam para a importância das instituições formais e das ações coletivas como mecanismos geradores de garantias para a transação e, consequentemente, para a minimização dos custos de transação.

The secondary market for life insurance policies in the United States market evolution and product valuation

In this work we discuss the secondary market for life insurance policies in the United States of America. First, we give an overview of the life settlement market: how it came into existence, its growth prospects and the ethical issues it arises. Secondly, we discuss the characteristics of the different life insurance products present in the market and describe how life settlements are originated. Life settlement transactions tend to be long and complex transactions that require the involvement of a number of parties. Also, a direct investment into life insurance policies is fraught with a number of practical issues and entails risks that are not directly related to longevity. This may reduce the efficiency of a direct investment in physical policies. For these reasons, a synthetic longevity market has evolved. The number of parties involved in a synthetic longevity transaction is typically smaller and the broker-dealer transferring the longevity exposure will be retaining most or all of the risks a physical investment entails. Finally, we describe the main methods used in the market to evaluate life settlement investments and the role of life expectancy providers.

BigLaw Identity Capital: Pink and Blue, Black and White

This Article advances a new capital framework for understanding the bargain between large law firms and their lawyers, depicting BigLaw relationships not as basic labor-salary exchanges but rather as complex transactions in which large law firms and their lawyers exchange labor and various forms of capital — social, cultural, and identity. First, it builds on the work of Pierre Bourdieu regarding economic, cultural, symbolic, and social capital by examining the concepts of positive and negative capital, exploring the meaning of capital ownership by entities, and developing the notion of identity capital — the value individuals and institutions derive from their identities. Then, the Article advances a capital theory of BigLaw, in which large law firms and their lawyers engage in complex transactions trading labor, social, cultural, and identity capital for economic, social, cultural, and identity capital. Capital analysis sheds new light on the well-documented and troubling underrepresentation of diverse lawyers at BigLaw. It shows that the underrepresentation of women and minority lawyers is not solely the result of exogenous forces outside the control of large law firms such as implicit bias, but rather the outcome of the very exchanges in which BigLaw and its lawyers engage. Specifically, large law firms take into account the capital endowments of their lawyers in making hiring, retention and promotion decisions, and derive value from their lawyers’ capital, for example, by trading on the identity of women and minority lawyers in marketing themselves as being diverse and inclusive to clients and potential recruits. Yet, while BigLaw trades for the identity capital of women and minority lawyers, it fails to offer them opportunities in return to acquire the social and cultural capital necessary for attaining positions of power, resulting in underrepresentation. Moreover, these labor-capital exchanges are often implicit and made by uninformed participants, and therefore unjust. Exactly because the capital framework describes the underrepresentation of diverse lawyers at BigLaw as an endogenous outcome within the control of BigLaw and its lawyers, however, it is a cautiously optimistic model that offers hope for greater representation of diverse lawyers in positions of power and influence. The Article suggests policies and procedures BigLaw can and should adopt to improve the quality of the exchanges it offers to women and minority attorneys and to reduce the underrepresentation of diverse lawyers within its ranks. Employing the concepts of capital transparency, capital boundary, and capital infrastructure, it demonstrates how BigLaw can (1) explicitly recognize the roles social, cultural, and identity capital play in its hiring, retention and promotion apparatuses and (2) revise its policies and procedures to ensure that all of its lawyers have equal opportunities to develop the requisite capital and compete on equal and fair terms for positions of power and influence.

Intelligent decision support for family financial planning

In today’s financial markets characterized by constantly changing tax laws and increasingly complex transactions, the demand for family financial planning (FFP) services is rising dramatically. However, the current trend to develop advisory systems that focus mainly on the financial or investment side fails to consider the whole picture of FFP. Separating financial or investment advice from legal and accounting advice may result in conflicting advice or important omissions that could lead to users suffering financial loss. In this paper, we propose a conceptual model for FFP decision-making process, followed by a novel architecture to support an aggregated FFP decision process by utilizing intelligentagents and Web-services technology. A prototype system for supporting FFP decision is presented to demonstrate the advances of the proposed Web-service multi-agentsbased system architecture and business value.

Accounting for complex investment transactions

This case study exposes students to complex investment transactions. You must document the following: (1) apply the appropriate accounting literature along with its provisions and justify the order of its application; (2) identify and interpret key facts to classify the given investments and relations; (3) discuss the choice of key assumptions that are central to the analysis; (4) interpret the nature of all investment relations with Holdings; discuss all Owner level and below relations; (5) discuss how accounting for varied levels of influence impact the items reported on/off the face of investors’ financial statements; (6) from DT’s perspective, discuss the potential positives and negatives of its arrangement with Owner with respect to Holdings; and (7) after analyzing additional facts, discuss the nature of the relations of Simon and Herb III with Owner.

The inducing NO-vasodilation by chemical reduction of coordinated nitrite ion in cis-[Ru(NO(2))L(bpy)(2)](+) complex

The synthesis of [Ru(NO(2)) L(bpy)(2)](+) (bpy = 2,2'-bipyridine and L = pyridine (py) and pyrazine (pz)) can be accomplished by addition of [Ru(NO) L(bpy) 2](PF(6))(3) to aqueous solutions of physiological pH. The electrochemical processes of [Ru(NO2) L(bpy) 2]+ in aqueous solution were studied by cyclic voltammetry and differential pulse voltammetry. The anodic scan shows a peak around 1.00 V vs. Ag/AgCl attributed to the oxidation process centered on the metal ion. However, in the cathodic scan a second peak around-0.60 V vs. Ag/AgCl was observed and attributed to the reduction process centered on the nitrite ligand. The controlled reduction potential electrolysis at-0.80 V vs. Ag/AgCl shows NO release characteristics as judged by NO measurement with a NO-sensor. This assumption was confirmed by ESI/MS(+) and spectroelectrochemical experiment where cis-[Ru(bpy)(2)L(H(2)O)](2+) was obtained as a product of the reduction of cis-[Ru(II)(NO(2)) L(bpy)(2)](+). The vasorelaxation observed in denuded aortic rings pre-contracted with 0.1 mu mol L(-1) phenylephrine responded with relaxation in the presence of cis-[RuII(NO2) L(bpy) 2]+. The potential of rat aorta cells to metabolize cis-[RuII(NO(2)) L(bpy)(2)](+) was also followed by confocal analysis. The obtained results suggest that NO release happens by reduction of cis-[RuII(NO(2)) L(bpy)(2)](+) inside the cell. The maximum vasorelaxation was achieved with 1 x 10(-5) mol L(-1) of cis-[RuII(NO(2)) L(bpy)(2)](+) complex.

Reactivity, photolability, and computational studies of the ruthenium nitrosyl complex with a substituted cyclam fac-[Ru(NO)Cl(2)(kappa(3)N(4),N(8),N(11)(1-carboxypropyl)cyclam)]Cl center dot H(2)O

Chemical reactivity, photolability, and computational studies of the ruthenium nitrosyl complex with a substituted cyclam, fac-[Ru(NO)Cl(2)(kappa(3)N(4),N(8),N(11)(1-carboxypropyl)cyclam)]Cl center dot H(2)O ((1-carboxypropyl) cyclam = 3-(1,4,8,11-tetraazacyclotetradecan-1-yl) propionic acid)), (I) are described. Chloride ligands do not undergo aquation reactions (at 25 degrees C, pH 3). The rate of nitric oxide (NO) dissociation (k(obs-NO)) upon reduction of I is 2.8 s(-1) at 25 +/- 1 degrees C (in 0.5 mol L(-1) HCl), which is close to the highest value found for related complexes. The uncoordinated carboxyl of I has a pK(a) of similar to 3.3, which is close to that of the carboxyl of the non coordinated (1-carboxypropyl) cyclam (pK(a) = 3.4). Two additional pK(a) values were found for I at similar to 8.0 and similar to 11.5. Upon electrochemical reduction or under irradiation with light (lambda(irr) = 350 or 520 nm; pH 7.4), I releases NO in aqueous solution. The cyclam ring N bound to the carboxypropyl group is not coordinated, resulting in a fac configuration that affects the properties and chemical reactivities of I, especially as NO donor, compared with analogous trans complexes. Among the computational models tested, the B3LYP/ECP28MDF, cc-pVDZ resulted in smaller errors for the geometry of I. The computational data helped clarify the experimental acid-base equilibria and indicated the most favourable site for the second deprotonation, which follows that of the carboxyl group. Furthermore, it showed that by changing the pH it is possible to modulate the electron density of I with deprotonation. The calculated NO bond length and the Ru/NO charge ratio indicated that the predominant canonical structure is [Ru(III)NO], but the Ru-NO bond angles and bond index (b.i.) values were less clear; the angles suggested that [Ru(II)NO(+)] could contribute to the electronic structure of I and b.i. values indicated a contribution from [Ru(IV)NO(-)]. Considering that some experimental data are consistent with a [Ru(II)NO(+)] description, while others are in agreement with [Ru(III)NO], the best description for I would be a linear combination of the three canonical forms, with a higher weight for [Ru(II)NO(+)] and [Ru(III)NO].

Viscosity measurement of Newtonian liquids using the complex reflection coefficient

This work presents the implementation of the ultrasonic shear reflectance method for viscosity measurement of Newtonian liquids using wave mode conversion from longitudinal to shear waves and vice versa. The method is based on the measurement of the complex reflection coefficient (magnitude and phase) at a solid-liquid interface. The implemented measurement cell is composed of an ultrasonic transducer, a water buffer, an aluminum prism, a PMMA buffer rod, and a sample chamber. Viscosity measurements were made in the range from 1 to 3.5 MHz for olive oil and for automotive oils (SAE 40, 90, and 250) at 15 and 22.5 degrees C, respectively. Moreover, olive oil and corn oil measurements were conducted in the range from 15 to 30 degrees C at 3.5 and 2.25 MHz, respectively. The ultrasonic measurements, in the case of the less viscous liquids, agree with the results provided by a rotational viscometer, showing Newtonian behavior. In the case of the more viscous liquids, a significant difference was obtained, showing a clear non-Newtonian behavior that cannot be described by the Kelvin-Voigt model.

Transactions in dynamic reactive environments

Most of today’s systems, especially when related to the Web or to multi-agent systems, are not standalone or independent, but are part of a greater ecosystem, where they need to interact with other entities, react to complex changes in the environment, and act both over its own knowledge base and on the external environment itself. Moreover, these systems are clearly not static, but are constantly evolving due to the execution of self updates or external actions. Whenever actions and updates are possible, the need to ensure properties regarding the outcome of performing such actions emerges. Originally purposed in the context of databases, transactions solve this problem by guaranteeing atomicity, consistency, isolation and durability of a special set of actions. However, current transaction solutions fail to guarantee such properties in dynamic environments, since they cannot combine transaction execution with reactive features, or with the execution of actions over domains that the system does not completely control (thus making rolling back a non-viable proposition). In this thesis, we investigate what and how transaction properties can be ensured over these dynamic environments. To achieve this goal, we provide logic-based solutions, based on Transaction Logic, to precisely model and execute transactions in such environments, and where knowledge bases can be defined by arbitrary logic theories.

Application du concept des transactions pour la modélisation et la simulation multicoeur des systèmes sur puce

Avec la complexité croissante des systèmes sur puce, de nouveaux défis ne cessent d’émerger dans la conception de ces systèmes en matière de vérification formelle et de synthèse de haut niveau. Plusieurs travaux autour de SystemC, considéré comme la norme pour la conception au niveau système, sont en cours afin de relever ces nouveaux défis. Cependant, à cause du modèle de concurrence complexe de SystemC, relever ces défis reste toujours une tâche difficile. Ainsi, nous pensons qu’il est primordial de partir sur de meilleures bases en utilisant un modèle de concurrence plus efficace. Par conséquent, dans cette thèse, nous étudions une méthodologie de conception qui offre une meilleure abstraction pour modéliser des composants parallèles en se basant sur le concept de transaction. Nous montrons comment, grâce au raisonnement simple que procure le concept de transaction, il devient plus facile d’appliquer la vérification formelle, le raffinement incrémental et la synthèse de haut niveau. Dans le but d’évaluer l’efficacité de cette méthodologie, nous avons fixé l’objectif d’optimiser la vitesse de simulation d’un modèle transactionnel en profitant d’une machine multicoeur. Nous présentons ainsi l’environnement de modélisation et de simulation parallèle que nous avons développé. Nous étudions différentes stratégies d’ordonnancement en matière de parallélisme et de surcoût de synchronisation. Une expérimentation faite sur un modèle du transmetteur Wi-Fi 802.11a a permis d’atteindre une accélération d’environ 1.8 en utilisant deux threads. Avec 8 threads, bien que la charge de travail des différentes transactions n’était pas importante, nous avons pu atteindre une accélération d’environ 4.6, ce qui est un résultat très prometteur.

Broadband coaxial cavity resonator for complex permittivity measurements of liquids

A novel cavity perturbation technique using coaxial cavity resonators for the measurement of complex permittivity of liquids is presented. The method employs two types of resonators (Resonator I and Resonator II). Resonator I operates in the frequency range 600 MHz-7 GHz and resonator II operates in the frequency range 4 GHz-14 GHz. The introduction of the capillary tube filled with the sample liquid into the coaxial resonator causes shifts in the resonance frequency and loaded Q-factor of the resonator. The shifts in the resonance frequency and loaded Q-factor are used to determine the real and imaginary parts of the complex permittivity of the sample liquid, respectively. Using this technique, the dielectric parameters of water and nitrobenzene are measured. The results are compared with those obtained using other standard methods. The sources of errors are analyzed.

The first metamagnetic thiocyanato-bridged one-dimensional nickel(II) complex

A novel single thiocyanato- bridged one- dimensional polymer, [NiL(NCS)(mu-NCS)](n) (L = N-1-(1-pyridin-2-yl-ethylidine)propane-1,3-diamine) has been synthesized and characterized by X-ray crystallography and a variable temperature magnetic study; the compound is a metamagnet with a Neel temperature (T-N) of 3.5 K.

Use of HNO3 as the source of NO to prepare a nitric oxide complex of ruthenium

Reaction of cis-Ru(bisox)(2)Cl-2, where bisox is 4,4,4',4'-tetramethyl-2,2'-bisoxazoline, with HNO3 in 1 : 4 molar proportion in boiling water under N-2 atmosphere and subsequent addition of an excess of NaClO4 center dot H2O yields [Ru(bisox)(HL)(NO)](ClO4)(NO3) (1). HL is a hydrolysed form of bisox where one of the oxazoline rings opens up. X-Ray crystallography shows that 1 contains an octahedral RuN5O core. HL binds the metal through an imino N, an amide N and an alcoholic O atom. Reaction of cis-Ru(bisox)(2)Cl-2 with an excess of NaNO2 in water gives cis-Ru(bisox)(2)(NO2)(2) (2). On acidification by HClO4 in methanol, 2 is smoothly converted to cis-[Ru(bisox)(2)(NO2)(NO)](ClO4)(2) (3) due to equilibrium (1).

Identification and minimization of IIR tap coefficients for the cancellation of complex multipath in terrestrial television

By using a deterministic approach, an exact form for the synchronous detected video signal under a ghosted condition is presented. Information regarding the phase quadrature-induced ghost component derived from the quadrature forming nature of the vestigial sideband (VSB) filter is obtained by crosscorrelating the detected video with the ghost cancel reference (GCR) signal. As a result, the minimum number of taps required to correctly remove all the ghost components is subsequently presented. The results are applied to both National Television System Committee (NTSC) and phase alternate line (PAL) television.

Modeling of complex-valued Wiener systems using B-spline neural network

In this brief, a new complex-valued B-spline neural network is introduced in order to model the complex-valued Wiener system using observational input/output data. The complex-valued nonlinear static function in the Wiener system is represented using the tensor product from two univariate B-spline neural networks, using the real and imaginary parts of the system input. Following the use of a simple least squares parameter initialization scheme, the Gauss-Newton algorithm is applied for the parameter estimation, which incorporates the De Boor algorithm, including both the B-spline curve and the first-order derivatives recursion. Numerical examples, including a nonlinear high-power amplifier model in communication systems, are used to demonstrate the efficacy of the proposed approaches.