Repositório RCAAP

Instituto Presbiteriano Mackenzie

Objective: This work aimed to analyze the influence of nudges on investment decisions in shares, on customers of a large bank, who do not participate in the Brazilian stock market. The justification for this study is based mainly on the growth potential of the capital market in Brazil, coupled with the biases existing in investors and the existence of nudges in order to mitigate such impact. Design / methodology / approach: This work involves a combination of methodologies with quantitative and qualitative approaches, with an explanatory objective, with applications of qualitative and quantitative procedures. In methodological terms, the study is an applied research, using joint methods and the study was considered to be exploratory, since the sampling procedure was non-probabilistic. For data collection, a questionnaire with a 10-point ordinal scale was developed in the first phase. In the second phase, the questionnaire was developed in four parts, with different scales, qualified to capture from the respondents: the demographic profile, the importance of the nudges, the investment profiles and the types of bias heuristics. In the first phase, an analysis was made of the classification of nudges by type, as well as factorial analysis of them. In the second phase, the descriptive analysis and logistic regression of the nudges was performed. Results: Initially, it was possible to identify 25 tips and information released by brazilian capital Market regulatory entities, which were classified and validated as nudges. The nudges could be classified into 6 different factors and for the factors with the highest amount of nudges, nudges of Reminder and Alert were predominant. Through the second phase, it was found that nudges have the potential to influence investment decisions, including in individuals who showed bias and heuristics. Most respondents demonstrated an intention to invest, after receiving the nudges, with different results depending on the investment profiles and also according to each type of nudge, with a greater predominance of Remember and Alert nudges among those most selected by the respondents as influencers. Practical implications: The results obtained in this work shows nudges as tools to optimize decisions and will allow Banco B to define strategies with the objective of increasing the number of clients who invest in shares, increasing the investor base in this type of capital market asset. The Bank can use this tool adapting their use to the investment profiles defined by the Bank. Originality and contributions: This study innovates by making available low-cost tools that can be used by capital market participants, including regulatory entities and other financial institutions, in order to use the nudges of this work to encourage the number of people who invest in the stock market, with the potential to bring development, maturation and growth to the Brazilian capital market, with evident positive consequences for the entire economy of the country.

This thesis is a study of Freire´s approach on literacy, from the hypothesis of interface between his pre- ssumptions and bakhtinians about philosophy of language, traced in our objective. For that, the books that Freire read, in order to organize his proposals were reread. In this sense, SOUZA's (2001) sketch was essential, with the book Um convite à leitura de Paulo Freire. When reading Freire's trajectory, some studies are vital: Vasconcelos e Brito (2006), um glossário dos Conceitos de educação em Paulo Freire, dealing with terms like antidialogicity, dialogue, dialogicity, dialogism. Rosas (2004) and Scocuglia (1999), intends to seize the experiences that led to the books which fundamented the conceptions in "tempos fundantes". In this perspective, the path of bakhtinian philosophical concepts was maped, chronologically, according to biographers as Clark and Holquist (2003), Ponzio (2008). In treating the main concepts of Bakhtin, studies were taken on Brait (2005, 2006 and 2009) and others like Faraco and Tezza (2009); Faraco (2001), Tezza (2002); SOUZA (2002), Fiorin (2001), SOBRAL (2005, 2009), that point out that path of the main concepts which constitute his philosophy, such as language, word, consciousness, dialogue and dialogism. Not in a static perspective, but in the philosophical macro-project of this thinker that put the language in the centre of human interaction, from which results in valuing the world, reflected and refracted for words, the language tool. That project apparently came from the same place that Freire´s did, who created an educational approach, in which words could stop serving oppression. During that process, Freire systemized propositions for literacy, which, in this study, were named Pedagogy of Reading. The analisis of Bakhtin´s thought came from the text Para uma filosofia do ato, spotlighted as the philosophical matrix of everything that comes later; which confirms and explains the other texts (Amorin, 2009) ; "synthesis of bakhtinian thought" (SOBRAL, 2005). By Freire, it iniciates by A Importância do Ato de Ler, in the three articles that complete each other (2008), which demands the appreciation of the first study of Freire´s thought: Educação e Atualidade Brasileira (2001), passing by others , in which he builds his approach for reading. In a brief discussion, the motivating historical-sociological aspects for bakhtinian philosophy, the concepts sketched in the basis of his philosophical anthropology. By Freire, in the third chapter, there are philosophical-linguistic preassumptions for reading. In the next chapter, two ways: the analysis of Freire and bakhtinian paths space and time, implicit or explicit conceptions in their texts, divergences and convergences between their bibliographical influence. Then, a comparison of what is called, in this thesis, Freire´s Pedagogy of Reading and the bakhtinian philosophy of language, their theoretical lines. Approximation and-or distances between their conceptions of language, word, consciousness, dialog and dialogism, in the books they read. In conclusion, we present the (mis)matches between these two masters of Dialetic.

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The corpus of this paper seeks to analyze the nature of the multiple voices which can be heard through the characters speeches in the five short stories in Anecdotes of Destiny by Karen Blixen. Each voice may represent one or more possibilities of expression such as the autobiographical, the symbolic, or even the statutory voice, by revealing meanings and intonations according to the characters changeable positions within the plots. Such voices can not be considered as consequences of the proposed conflicts; instead, they determine the tensions through which the stories evolve. This study is based on Mikhail Bakhtin s postulates in reference to the theory of dialogism, which in the case of the present paper, were transferred to the short story, a hybrid genre whose origin derives from the tales passed on through the generations by oral transmission. In the specific case of Karen Blixen s short stories, the study of the voices is linked to the own genesis of tales as oral narratives, which were passed to written form by keeping certain characteristics of the archetypical voices, which can be heard individually, or simultaneously superimposed, in a heteroglossical harmony capable of generating multiple meanings.

This research investigates the easy and difficult aspects of using digital books as an incentive to read in the university context, pointing out indicators that contribute to the use of digital books in this environment. It covers a contemporary theme, related to the research lines of the post-graduation program of Education, Philosophy and Theology Center (CEFT) of Mackenzie Presbyterian University and it covers the areas of Education and Technology (digital languages, new media and the Internet, teaching/learning and new technologies). To perform this research, it was required the use of hypothetical-deductive method, indirect (bibliography) and direct documentation (questionnaire). The theoretical framework includes interdisciplinarity, with text support on philosophy, anthropology, communication, hermeneutics, learning, language, writing and reading, history and book design, technologies, digital culture and digital books. The result of this work makes it possible to affirm that there are singularities in the experience of reading digital books, as well as resources in these same books, which can encourage reading in the university context. The university student gradually incorporates the reading of the digital book, but still has difficulty in using all its resources. In addition, in the university context, the reading of digital books is little encouraged by professors.

This study sought in the theories that support behavioral finance, contributions that could help to better understand possible anomalies in the pricing of shares in the capital market, from the observation made in the stock price movements of Taurus Armas SA, traded on the Brazilian stock market B3, which led to a significant appreciation in market value in a short period of time in October 2018. After analyzing the main financial indicators used in the stock market, it was not possible to find support to the values observed in the negotiations. Thus, behavioral finance theories were sought, which could better explain the behavior of investors, who accepted to trade stocks at prices that are not supported by the financial analysis performed.

This dissertation presents tendencies of the Brazilian federalism after the promulgation of the 1988 Constitution.In order to achieve such objective, it is divided in three stages. Firstly, through a bibliographic review, it refers to the origins of federalism and the main schools which debate the theme. Many divergences between the schools are observed, but it emphasizes the consensus about there mark able characteristic of the federations: the decentralization which bestows autonomy on the federative entities. The focus of the second stage is the decentralization in the history of the Brazilian federalism. Regarding the passage from the unitary Empire to the federalist Republic, the dissertation draws mainly on accounts of important political men, contemporary with the transition process. Regarding the republican Brazil, it analyses the federal constitutions and other legal and extra legal instruments which gave form and materialized the federation. In addition to this analysis, the support of historians and political scientists contributes to develop an overview of the diverse phases of the Brazilian federalism. It is verified that there are conflicting opinions on the de facto autonomy of the federal entities, particularly during periods of dictatorships. In the third stage, the first step is an examination of the transition from military dictatorship to democratic rule and the work of the National Constituent Assembly, specially the debates concerning decentralization. The following investigation of the 1988 constitutional text reveals a federal arrangement that established the autonomy of four federal entities (federal, states, federal district and municipalities), cooperative, which decentralized revenue, but centralized powers. Then, the dissertation studies the dispersion of power between different levels of government regarding public finances, social policy, public security and self organization. It concludes that this arrangement, which was raised in an atmosphere conducive to decentralization, is marked by the coexistence with politically centralizing tendencies motivaded.

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Este trabalho de conclusão de curso em formato de podcast, propõe um debate sobre a influência da mídia no meio do futebol, trazendo como exemplo os dez anos de carreira do Neymar. O atleta pode ser considerado a principal estrela brasileira e frequentemente está envolvido em polêmicas noticiadas na imprensa. Nesse contexto, podemos analisar o comportamento partidário de alguns jornalistas ao comentar determinadas situações e refletir sobre o impacto da repercussão na vida de pessoas envolvidas direta ou indiretamente com o esporte. Durante o bate-papo com Leonardo Bertozzi e Breiler Pires, dos canais ESPN, conversamos sobre o poder do jornalismo em moldar opiniões e como uma angulação subjetiva fortalece cobranças por uma conduta virtuosa

Acesso online; https://retornoancestral.wixsite.com/ancestralidade

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O presente trabalho visa identificar possíveis consequências à adesão do Brasil ao Sistema de Madri para o registro internacional de marcas, à luz do Decreto Legislativo nº 98/2019 e da 3ª edição do Manual de Marcas do Instituto Nacional de Propriedade Industrial (INPI). Para tanto, serão analisadas as diretrizes adotadas pelo INPI em comparação com a legislação nacional, a fim de avaliar sua regularidade e efetividade. Demonstra a existência de aspectos positivos, porém, tratamento desigual para estrangeiros e brasileiros, retrocesso quanto à celeridade e efetividade do processo judicial e necessidade de atuação eficaz e rápida por parte do INPI para cumprimento dos prazos perante a Secretaria Internacional. Conclui-se que o Sistema de Madri, ainda que benéfico para fomentar a inovação e investimento no mercado brasileiro, poderá enfrentar obstáculos para sua aplicação, por trazer normas pouco benéficas aos nacionais.

Companies change their capital structure for a variety of reasons, including difficulty in accessing the debt market, timing of their life cycle, marriage between amount and maturity of funding sources with their investment decisions. When they have access to the credit market, third parties require collateral or collateral - fixed assets, inventories and accounts receivable. However, the choice for this source of funding depends on its life cycle, among other aspects. Growing companies opt for third-party capital for being cheaper, depending on the benefit of the tax deduction. Even those that are in the phase of decline have little need of new investments, replacing debts by internal resources. Moreover, it has been that, as the company matures, it increases its collateral level, impacting its financial leverage. In view of the foregoing, the general objective of this study is to analyze whether corporate debt is related to its age and collateral. In addition, it is intended to understand if these variables facilitate or hinder companies in obtaining capital to finance their activities. This analysis is performed through descriptive statistical tests, correlation and regression with static panel data. The sample is composed of 198 Brazilian non-financial companies, of which 132 are publicly-held and 66 are privately held. The data are obtained from the Capital IQ database, owned by Standard & Poor's (S&P), during the period from 2010 to 2017. As a result, the positive relationship between collaterals and indebtedness for publicly traded companies and total. Regarding age, contrary to expectations, a positive relationship with financial leverage is identified. This fact may indicate a sign that more mature Brazilian companies have greater credibility, facilitating their access to the debt market. Finally, there is a negative relationship between time and collaterals on debts. This may occur due to a possible deterioration in the quality of these collaterals over time. If this is a reality, the perception of risk by creditors is not reduced, discouraging new concessions of resources.

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The present doctoral thesis seeks to address privacy issues and their economic and legal impacts in this new digital age. There is great difficulty in understanding the philosophical and sociological dimensions of privacy, especially in view of the great exposure that the media place in the internet environment. This behavioral change raises a great legal concern about the degree of protection that should be given to the privacy and privacy of each citizen. This discussion is unparalleled in the Brazilian legal system, first because of the recent edition of the Brazilian General Data Protection Law, second because of the doubt whether the law will be able to solve the privacy problems for Brazilian society without impeding the development of business digital. The general objective is related to the legal, economic and social analysis of privacy and the philosophical and theoretical nuances of privacy impacted by new Technologies (big-data, internet of things, and Data Protection Law). The specific objectives relate to the understanding of the elements that make up the theme, verification of the cost and economic impact of privacy, its legal extension throughout the recent period, as well as the identification of the role of the State in protecting the values of society and the agent of privacy. economic incentive. The method used is the deductive, combined with historical, economic, legal and bibliographic research techniques, with research as a legal-sociological nature, aiming at understanding the changes in privacy paradigms in the face of digital technologies

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In the last few years, the growing socio-environmental problems and the consequent liability of the social players when confronting such problems have led companies, including financial institutions to drive towards replacement of their business strategies in accordance with the principles of sustainable development. Following this drive, BEP (fictitious name), a public financial institution, has launched the program of Regional Sustainable Development (RSD), with the promise of promoting sustainable development in regions in which it operates. To turn the program possible, the institution recognizes the need to train corporate agents for the preparation to the referred challenge. In view of the background, this study aims to understand how does the process of competencies development of corporate players for the implementation of RSD projects. The need of this study is justified for the advancement of discussions on competencies within the sphere of a political and societal perspective, once the RSD build up is leveraged by means of participatory processes and requires the performance of social players, as well as of socially responsible professionals. Therefore, it is to approach the competencies in an unexplored scope, which concerns mainly with the ability of the professionals to overcome the limits of the organization and to identify how they can contribute for the development of the regions and their communities, as well as how they can extend the meaning of work in addition to the issues on value creation within the organization's activities. To meet the proposed objectives, a qualitative case study has been conducted. The data analyze employed the interpretative textual analyze process, proposed by Gil Flores (1994). The results of the survey show that by designing an educational project with the blending of formal actions (internal certification program both in social and environmental responsibility and RSD, that is, classroom courses on RSD and MBA in RSD) and informal ones (work experience either in poor communities, in familial groups, in work groups and in discussion forums), BEP has enhanced the competencies development, since the formal actions have brought in knowledge that guide the managers´ actions and the informal actions have helped carry out in accordance with the local needs of the communities. To advance in their initiative developmental competencies, the organization needs to invest in ongoing training of managers in order to improve communication with partners and the market, besides taking in account the transition of the bank managements through the establishment of a ritual transition so that the managers´ competences becomes an organizational competence. The managers, in addition, begin revising their traditional skills and expanding the meaning of work beyond the quantitative indicators, such as the profit maximization for its shareholders, similarly to evaluating their work under the qualitative perspective, so as to contribute to social, educational and professional development of the communities. This is the new manager, who goes beyond the boundaries of the organization and in the field to looks at its surroundings in search for business opportunities that involve a new development strategy sustained in the development of the regions and their communities within a sustainable way. Likewise, this is a manager who has to approach areas of distinct knowledge from his/her original background and to get to know business areas that previously had not been part of his/her expertise, as well as legal and labor relations and production processes of the related areas.