Capital structure and windows of opportunities: tests in the brazilian market

Este estudo testa a teoria das janelas de oportunidade (EMTT) para o mercado acionário brasileiro. Este texto é uma adaptação do artigo de Baker e Wurgler (2002) que testaram com sucesso essa teoria para o mercado acionário americano. A teoria não foi comprovada no mercado brasileiro. A alavancagem diminuiu no primeiro ano após as ofertas públicas iniciais (IPO), mas cresceu novamente sem apresentar a persistência necessária para corroborar a teoria.This study tests the market timing theory (EMTT) in the Brazilian Stock Market. The study is an adaptation from the Baker and Wurgler's article (2002) that successfully tested this theory in the American Stock Market. The theory has not been proven in the Brazilian Market. The leverage decreased in the first year after the initial public offerings (IPO), but it grew once again without presenting the persistency required to corroborate the theory

Mitigating the choice of the duration in DDMS models through a parametric link

One of the most important hyper-parameters in duration-dependent Markov-switching (DDMS) models is the duration of the hidden states. Because there is currently no procedure for estimating this duration or testing whether a given duration is appropriate for a given data set, an ad hoc duration choice must be heuristically justified. This is typically a difficult task and is likely the most delicate point of the modeling procedure, allowing for criticism and ultimately hindering the use of DDMS models. In this paper, we propose and examine a methodology that mitigates the choice of duration in DDMS models when forecasting is the goal. The idea is to use a parametric link instead of the usual fixed link when calculating transition probabilities. As a result, the model becomes more flexible and any potentially incorrect duration choice (i.e., misspecification) is compensated by the parameter in the link, yielding a likelihood and transition probabilities very close to the true ones while, at the same time, improving forecasting accuracy under misspecification. We evaluate the proposed approach in Monte Carlo simulations and using real data applications. Results indicate that the parametric link model outperforms the benchmark logit model, both in terms of in-sample estimation and out-of-sample forecasting, for both well-specified and misspecified duration values

Estimativas do teor de umidade empregando o método GPR: uma avaliação comparativa em experimentos de laboratório e campo

Este trabalho faz uma análise das estimativas de teores de umidade obtidas com o método Ground Penetrating Radar (GPR) comparativamente às determinadas com os métodos Time Domain Reflectometry (TDR) e gravimétrico. Os dados foram obtidos em dois experimentos diferentes: um experimento controlado em laboratório buscando reproduzir um meio homogêneo onde foram obtidas as medidas de umidade com GPR (antenas de 1 GHz) e TDR, e outro experimento de campo onde foram obtidos dados com GPR (antenas de 200 MHz) e de amostras de solos do local. Para a obtenção das estimativas a partir do método GPR foram analisados os eventos relativos à onda de transmissão direta entre as antenas, onda refratada criticamente e onda refletida em interfaces com diferentes propriedades elétricas.O GPR mostrou-se sensível às variações de umidades presentes nos dois experimentos e apresentou boa correlação com os dados obtidos com TDR (REQM de0,007 m³m-3) e das amostras (REQM de 0,039 m³m-3).This paper makes an analysis of the quantitative correspondence between the GPR-TDR and GPR-gravimetric measurements of moisture content.The data were obtained from laboratory and field experiments. In the laboratory test, the vadose zone was simulated by injecting and draining water in a sand tank. The experiment was conducted with 1 GHz antennas. The in situ test was carried out on unsaturated residual soils, in an area susceptible to landslide, with 200 MHz antennas. To measure soil water content with GPR, we used the velocity of ground wave, refracted and reflected waves. The GPR response was sensitive to changes in subsurface moisture in both experiments and showed good correspondence with TDR (RMS error of 0.007 m³m-3) and gravimetric (RMS error of 0.039 m³m-3) measurements.FAPESPUSP - IAGUSP - E

Connecting neuroscience principles and education people profile of culture and leadership: a labour market approach

Neurosciences, based on the founding idea of “neuroplasticity”, have helped to clarify the issue of initial (and integral) training of individuals based on the balanced structuring of the respective brain system. From what has been said, we would say that initial parental education, in times of an increasingly urban life (where parents delegate the education of children to school) does not seem to facilitate this balance of integrated development. It is important to discuss the connection between the neurosciences and education, concluding that this joint approach would be essential to guide quality levels and the researchers admit that the applicability of neuroscience research, for the improvement of pedagogy, has been, paradoxically, very limited. In general, we can define organizational culture as a set of beliefs, values and norms that influence the climate of a company, aligning employee behaviour and the strategic way in which the company positions itself in the market. Organizational culture is the essence of an organization. The supportive culture or clan culture presents a pleasant work environment, with a united organization that endures through loyalty and traditions, where interpersonal relationships are created, success is defended by teamwork, participation and consensus between employees and the organization. Leaders are considered mentors and there is a high level of commitment. In accordance with the updated works of Miranda, which seeks to reconcile the previous author and the OCAI model of R. Quinn and collaborators, a questionnaire was constructed, with twenty-eight questions, involving as many others adjectives that characterize a cognitive profile. In a first approximation, and taking only the descriptive statistics data into account, and taking only the sample data, there is a striking curiosity: the respondent students consider that the school made a visible and verifiable effort to correct the dominant profile. limbic pointing to a right cortical profile: intuition, entrepreneurship, vision.info:eu-repo/semantics/publishedVersio

"National frozen fish distributor”: paradigmatic case study of an african company for operational productivity improvement

This paper develops a case study regarding the intervention requested by the leader of the Mozambican company "DNPC" (to consolidate the leadership and management of the company, in the context of the transition to the situation of a large company). In terms of diagnosis, there are four aspects that emerge as the most salient of this business initiative: (i) the differentiation of the company in relation to the commercial orientation of the company in order to respond to the most basic needs of the poor population (provide the supply of frozen fish); (ii) the traditional African culture centred on "affections", with the perverse effect of inducing a very high absenteeism of drivers, which would, in turn, make the flow of supply from popular markets unfeasible; (iii) the response to the initial chaos by the development of a business culture in an entrepreneurial network, both internally (drivers) and externally (sales companies and security elements of the financial flows generated); (iv) promotion of an organization of work based on a meaning based on autonomy and liberation from the hierarchical submission of the worker, and designed not to force him to exclusion from society and to move away from traditional African values.info:eu-repo/semantics/publishedVersio

Análise morfométrica do forame mandibular em gatos domésticos (Felis catus, Linnaeus 1758) sem raça definida

Objetivou-se, avaliar morfometricamente o forame mandibular, em gatos sem raça definida, visando ainda estabelecer de forma mais precisa sua topografia, com vistas a oferecer subsídios para um bloqueio anestésico local mais efetivo do nervo alveolar mandibular. Foram utilizados 30 gatos domésticos (Felis catus) adultos, 5 machos e 25 fêmeas, sem raça definida. Após a coleta e o preparo das mandíbulas, com auxílio de um paquímetro milimetrado tipo universal, foram mensurados 6 pontos de referência, LONG (da borda mais lateral do processo condilar até o primeiro dente incisivo inferior); TRANS (da borda ventral até a borda dorsal da mandíbula entre o segundo dente pré-molar e o primeiro dente molar inferiores); FVENTRAL (da borda mais rostral do forame mandibular até a borda ventral da mandíbula); ANG (da extremidade da borda mais rostral do forame mandibular até o processo angular da mandíbula); COND (extremidade da borda mais rostral do forame mandibular até a borda medial do processo condilar da mandíbula) e COR (da borda mais rostral do forame mandibular até a borda medial do processo condilar da mandíbula). Em seguida os dados obtidos foram submetidos à análise estatística descritiva e ainda aplicou-se o teste T de Student com p=0,05 onde observou-se que para um melhor bloqueio anestésico local do nervo alveolar inferior a agulha deverá ser introduzida de 4,1 a 4,4 mm da borda ventral da mandíbula e entre 12,37 a 12,57 mm partindo do processo angular.The objective of this work was to perform a morphometric evaluation of the mandibular foramen of cats with no defined breed in order to establish its more precise topography and to offer subsides for a more effective local anesthetic blockage of the mandibular alveolar nerve. Thirty adult cats (Felis catus) (5 male and 25 female) with no defined breed were used. After collection and preparation of mandibles with the aid of a universal caliper rule, the 6 reference points were measured: LONG (from the most lateral margin of the condylar process up to the first inferior incisor tooth); TRANS (from the ventral margin up to the dorsal mandible margin between the second premolar tooth and the first inferior molar tooth); FVENTRAL (from the most rostral margin of the mandibular foramen up to the ventral mandibular margin); ANG (from the end of the most rostral margin of the mandibular foramen up to the mandible angular process), COND (from the end of the most rostral margin of the mandibular foramen up to the medial margin of the mandible condylar process) and COR (from the most rostral margin of the mandibular foramen up to the medial margin of the mandible condylar process). Following, the data obtained were submitted to descriptive statistical analysis and to the student’s t-test with p = 0.05. It was observed that for a better local anesthetic blockage of the inferior alveolar nerve, the needle should be introduced 4.1 to 4.4 mm from the mandible ventral margin and 12.37 to 12.57 mm from the angular process

Interactive tabletops for architectural visualization: combining stereoscopy and touch interfaces for cultural heritage

This paper presents an interactive apparatus to didactically explore Alberti's treatise on architecture, De re aedificatoria, as generative design systems, namely shape grammars. This apparatus allows users to interactively explore such architectonical knowledge in both appealing and informal ways, by enabling them to visualize and manipulate in real-time different design solutions. The authors identify the difficulties on encoding the architectural knowledge of a parametric design model into an interactive apparatus to be used by laypeople. At last, the authors discuss the results of a survey conducted to users that interacted with the prototype in order to assess its ability to communicate the knowledge of an architectural language.Fundação para a Ciência e a Tecnologia (FCT)Escola de Arquitectura da Universidade do MinhoThis work was partially supported by the Portuguese Foundation for Science and Technology (FCT): doctoral grants SFRH/BD/69910/2010, SFRH/BD/88040/2012 and SFRH/BD/91372/2012, and projects MIVis PTDC/EIA-EIA/104031/2008, Alberti Digital PTDC/AUR-AQI/108274/2008, TECTON-3D PTDC/EEI-SII/3154/2012 and Pest OE/EEI/LA0021/2013

Aquisição de uma colhedora combinada de grãos: estudo de viabilidade para a região de Farol, PR, no ano agrícola de 2012

Mechanization in the field is increasing every day and the acquisition of grain harvesters has been necessary, due to increased cultivated areas. But, when unplanned, this can increase or even become unfeasible the productive process because mechanization may represent 20% to 40% of total production cost. Thus, the aim of this study was to calculate the minimum cultivated area with soybean and corn that makes possible the acquisition of a harvester grain. The study was conducted in 2013 in the region of Farol city, Paraná State, covering producer of soybean and corn. To perform the estimation of the minimum area was used an equation that considers the fixed cost, variable cost, the cost of harvesting and the loss reduction using own machine. It was concluded that the minimum cultivated area that enables the acquisition of a harvester grain was 304.52 hectare.A mecanização no campo vem aumentando a cada dia e a aquisição de máquinas colhedoras de grãos vem sendo cada vez mais necessária, devido ao aumento das áreas cultivadas. Porém, quando não planejada, esta pode tanto elevar como até mesmo inviabilizar o processo produtivo, pois a mecanização pode representar de 20% a 40% dos custos totais de produção. Diante disso, o objetivo deste trabalho foi calcular a área mínima cultivada com soja e milho que viabilize a aquisição de uma colhedora combinada de grãos. O trabalho foi realizado no ano de 2013 na região de Farol, PR, abrangendo produtores de soja e milho. Para realizar a estimativa de área mínima foi utilizada uma equação que considera o custo fixo, custo variável, custo da colheita terceirizada e redução de perdas com máquina própria. Diante dos dados médios obtidos na região estudada, concluiu-se que a área mínima cultivada para viabilizar a aquisição de uma colhedora combinada de grãos, na região de Farol, PR, foi de 304,52 hectares

A Doença Periodontal em pacientes com Síndrome de Down: revisão integrativa de literatura

A Doença Periodontal (DP) é definida como uma patologia inflamatória da cavidade oral de ordem multifatorial, classificada como gengivite e periodontite. A Síndrome de Down (SD) é uma condição genética, caracterizada pela presença trissomia do cromossomo 21, indivíduos com SD podem apresentar determinadas características físicas, orais e mentais características desta condição. O objetivo do presente estudo é demonstrar a relação entre a doença periodontal e indivíduos com síndrome de Down. Desta forma, foi realizada uma revisão integrativa de literatura por meio de busca de artigos nos idiomas português e inglês na base de dados BVS, PubMed, EBSCOhost e Scielo. Conclui-se que existe uma relação positiva entre a doença periodontal e a Síndrome de Down. É de extrema importância que acadêmicos e profissionais da odontologia estejam cientes dessa associação para que assim ofereçam cuidados preventivos e tratamento adequado melhorando a saúde bucal, e consequentemente, a qualidade de vida desses pacientes