An Empirical Analysis of the External Finance Premium of Public Non-Financial Corporations in Brazil

Our objective in this paper is to analyze empirically the relationship between the external finance premium of non-financial corporations in Brazil with their default probability and with their demand for inventories. As for the former relation, we find that corporations that have greater external finance premium have greater probability of default. As for the latter, we find that the external finance premium is positive and statistically significantly correlated. The results confirm previous results of the literature that indicate that the balance sheet channel of monetary policy is relevant in Brazil.

AI is a viable alternative to high throughput screening: a 318-target study

: High throughput screening (HTS) is routinely used to identify bioactive small molecules. This requires physical compounds, which limits coverage of accessible chemical space. Computational approaches combined with vast on-demand chemical libraries can access far greater chemical space, provided that the predictive accuracy is sufficient to identify useful molecules. Through the largest and most diverse virtual HTS campaign reported to date, comprising 318 individual projects, we demonstrate that our AtomNet® convolutional neural network successfully finds novel hits across every major therapeutic area and protein class. We address historical limitations of computational screening by demonstrating success for target proteins without known binders, high-quality X-ray crystal structures, or manual cherry-picking of compounds. We show that the molecules selected by the AtomNet® model are novel drug-like scaffolds rather than minor modifications to known bioactive compounds. Our empirical results suggest that computational methods can substantially replace HTS as the first step of small-molecule drug discovery

An empirical analysis of the external finance premium of public non-financial corporations in Brazil

Our objective in this paper is to analyze empirically the relationship between the external finance premium of non-financial corporations in Brazil with their default probability and with their demand for inventories. As for the former relation, we find that corporations that have greater external finance premium have greater probability of default. As for the latter, we find that the external finance premium is positive and statistically significantly correlated. The results confirm previous results of the literature that indicate that the balance sheet channel of monetary policy is relevant in Brazil

Disponibilidade de macronutrientes em cultivares de cana-de-açúcar submetidas à competição com Brachiaria brizantha Macronutrients availability in sugarcane varieties grown under increasing densities of Brachiaria brizantha

Objetivou-se com o trabalho verificar os teores foliares dos macronutrientes e o desenvolvimento das cultivares de cana-açúcar 'RB72454', 'RB867515' e 'SP801816' em competição com populações de Brachiaria brizantha. Os tratamentos utilizados foram: 1) cultivar de cana-de-açúcar 'RB72454' e população de B. brizantha de 0, 1, 3, 7, 15, 32, 40, 32, 64, 92, 88 e 112; 2) 'RB867515' e 0, 1, 4, 14, 10, 18, 28, 30, 36, 54, 52 e 72; 3) 'SP801816' e 0, 1, 3, 6, 14, 20, 24, 26, 26, 32, 46 e 56 plantas m-2. Aos 120 dias após a emergência da cultura, foi quantificada a massa seca (MS) da parte aérea da cana-de-açúcar e da B. brizantha. Aos 290 dias após a emergência (DAE), foram coletadas amostras das folhas +3 (terceira folha a partir do ápice das plantas), nas quais foram avaliadas as concentrações de nitrogênio total, fósforo, potássio, magnésio e cálcio. Com o aumento da população de B. brizantha, observou-se redução da MS somente na cultivar 'RB72454'. O aumento na população de B. brizantha reduziu a concentração de fósforo em todas as cultivares, nitrogênio em 'RB72454' e 'SP801816', potássio e magnésio para 'RB72454'. Nas populações mais elevadas de B. brizantha, houve maior competição pelos nutrientes disponíveis no meio, sendo o fósforo o mais limitante. A cultivar 'RB72454' foi a menos competitiva pelos nutrientes no solo. As cultivares apresentaram redução média de 76% na produtividade de colmos na densidade máxima de B. brizantha.<br>This trial aimed to verify foliar levels of macronutrients and development of sugarcane cultivars 'RB72454', 'RB867515' and 'SP801816' under competition with populations of Brachiaria brizantha. The field trial was installed where treatments were: 1) Sugarcane 'RB72454' and B. brizantha population of 0, 1, 3, 7, 15, 32, 40, 32, 64, 92, 88 e 112; 2) 'RB867515' e 0, 1, 4, 14, 10, 18, 28, 30, 36, 54, 52 e 72; 3) 'SP801816' e 0, 1, 3, 6, 14, 20, 24, 26, 26, 32, 46 e 56 plants m-2. At 120 days after crop emergence, the crop and weed shoot dry mass (MS) was analyzed. At 290 days, samples of the 3rd leaf were collected. From these samples, concentration of total nitrogen, phosphorus, potassium, calcium and magnesium where measured. As the competition increased, a reduction in MS was observed only for 'RB72454'. Increases in population B. brizantha caused reduction in leaf phosphorus concentration for all varieties; nitrogen reduction for 'RB72454' and 'SP801816', as well as potassium and magnesium for 'RB72454'. There was higher competition for nutrients as B. brizantha population was increased, being phosphorus the more limiting nutrient for growth under competition. The variety 'RB72454' demonstrated lower competitive ability in relation to the other ones. All varieties presented average reduction of 76% in the yield in maximum density of B. brizantha