Modelo de otimização da gestão de risco em empresas não financeiras

Esta pesquisa apresenta o desenvolvimento de um modelo de otimização da gestão de riscos, através da identificação de uma estratégia de hedge que maximiza a esperança dos lucros. O modelo fundamenta-se na premissa de que fatores de riscos, além de afetar os resultados das empresas, podem, também, estar correlacionados com as oportunidades futuras de investimento. O modelo proposto incorpora os custos advindos de um endividamento adicional bem como os benefícios da disponibilidade de recursos internos. O trabalho está desenvolvido da seguinte forma: (1) discussão dos aspectos teóricos relacionados ao tema de gestão de riscos no contexto da teoria de finanças; (2) apresentação da metodologia adotada para o desenvolvimento do modelo; (3) derivação dos passos fundamentais que orientaram o modelo matemático, destacando as especificações das variáveis relevantes e os mecanismos de simulação e (4) apresentação dos principais resultados do modelo de hedge ótimo, dentre os quais se destacam: aumento da esperança dos lucros, redução da incerteza em relação aos investimentos, maior estabilidade do nível ótimo de investimento e de endividamento e menor flutuação dos resultados da empresa, decorrente da redução do nível de risco financeiro.This research presents an optimization model for risk management, through the development of a hedge strategy that maximizes the expected profit of a company. The model is based on the premise that a risk factor, besides affecting the results of the company, can also be correlated with future investment opportunities. The model incorporates the costs of an additional debt as well as the benefits of the availability of internal resources. The work is structured in the following way: (1) discussion of the theoretical aspects related to the theme of risk management in the context of the financial theory; (2) presentation of the methodology adopted for the development of the model; (3) derivation of the fundamental steps that guided the mathematical model, detaching the specifications of the important variables and the simulation mechanisms and (4) discussion of the main results of the hedge model, among which we highlight: increase in profit expectations, reduced uncertainty in relation to the investments, larger stability of investment and debt levels and smaller fluctuation of company results, due to lower financial risk levels

Minority environmental activism in Britain: From brixton to the lake district

Historically, the British environmental movement has been devoid of minority participation, but this is changing very slowly, with the emergence of ethnic minority environmental groups and multiracial environmental alliances. These groups have argued that ethnic minorities have little or no access to public funds earmarked for countryside and wildlife preservation issues. They argue that white environmental organizations do not pay attention to the needs of inner-city minority residents and minority access to the countryside. Increased access, community improvement and beautification projects, environmental education, youth training, community garden projects, and issues of environmental racism are all foci of ethnic minority environmental movements. While some white environmentalists have been supportive of them, others have been uncomfortable with them or even hostile to their existence.Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/43549/1/11133_2004_Article_BF00990102.pd

Time Urgency and Imagery in the Type a Behavior Pattern

This study explored the relationship between Type A Behavior Pattern, visual imagery, and ability for time estimation. 115 subjects filled out a questionnaire which assessed them for the presence of a visual imaginary representation of time and scores on Type A or B behavior. While completing the questionnaire, subjects made estimates of four timed intervals of 8 min., 22 sec. The treatment consisted of formal training in visual imagery representations between time estimates of intervals 3 and 4. Data were analyzed using a 2 × 2 × 4 mixed analysis of variance in which the subject variables (Type A/B, visual imaginary representation, and time estimate) were dichotomized using median splits. The dependent measures were accuracy scores for each of the four estimation trials. Subjects with training in visual imaginary representation estimated time more accurately; Type A subjects with training in visual imaginary representation were the most accurate. All subjects improved over the four trials, with greatest improvement following training in visual imaginary representation. The most consistent improvement in time estimates occurred in Type A subjects. Results replicated and extended previous findings associating visual imaginary representations with more accurate time perception, especially for individuals scoring as showing Type A behavior pattern. </jats:p

Effect of Governance Characteristics on the State of the Firm after an Initial Public Offering

I examine firm characteristics available to investors at a firm's initial public offering date to determine whether they predict the firm's survival, acquisition, or failure. Firms survive more often than they are acquired when they are venture-backed, the chief executive officer is the original founder, and an outside blockholder is present. The presence of an outside director does not increase the probability of survival. Firms that are more likely to survive than fail include large firms and those with longer board tenure. Copyright 2006, The Eastern Finance Association.

Ohio Women\u27s Centers\u27 Reflections on Evaluation and Assessment (Issue Brief 02)

In March 2010, the Ohio Women’s Centers Committee1 published its first issue brief (Ohio Women’s Centers: Statement of Philosophy) describing the process of drafting our first collective statement of philosophy and the statement itself 2. At our annual retreat in July, the committee identified other topics of interest to address in subsequent issue briefs. After some discussion, it was determined that the next logical topic to consider, following the statement of philosophy, would be evaluation: its role in our work and issues related to its accomplishment

Enzyme-linked immunosorbent assay for detection of antibodies to murine hepatitis virus

An enzyme-linked immunosorbent assay was developed for the detection of antibodies to murine hepatitis virus. A high prevalence of antibody to murine hepatitis virus was found by the enzyme-linked immunosorbent assay in colonies with a low prevalence of complement-fixing antibodies. Murine hepatitis virus strain A59 was found to be broadly reactive as an enzyme-linked immunosorbent assay antigen.</jats:p