RCAAP Repository

Instituto Presbiteriano Mackenzie

Universidade Presbiteriana Mackenzie

Serviço Nacional de Aprendizagem Comercial

Since its beginning at 70´s in the USA, asset securitization has shown a strong increase in the issued amounts in Europe and in the USA. In spite of more modest figures, Brazilian asset securitization issues through FIDC have shown also a great increase. This work aims to investigate this impressive performance. An asset securitization program effectively mitigates firm´s risk because what occurs in this case is a risk transfer from the firm to SPV/FIDC in the moment that the firm sells its cash flow to SPV/FIDC. This transfer could be total or partial. It was possible to demonstrate how the receivables acquisition rate (rs) depends on arrangement costs (υ), time interval of receiving the cash flow (T), issuing debt market rate (rm) and the cash flow performance (δ).

Fundo Mackenzie de Pesquisa

Universidade Presbiteriana Mackenzie

The aim of this work is to present three study cases of big office buildings in the city of São Paulo built in the 21st century, between 2001 and 2012; show the main characteristics of its projects, such as the requirements made by investors, architectural solutions, building´s dimensions, building´s position on site, slab sizing, arrangement of pillars, ceiling height, location and spaces chosen to integrate the support core, coating surfaces, air conditioning and automation system, urban legislation, environmental certifications and structural challenges faced, besides making a brief view of the relation between the city of São Paulo and office buildings, its constructions and conception of how workplaces have been organized by enterprises. The first study case is the Infinity Tower Building constructed in 2012, designed by Aflalo & Gasperini office in partnership with the American office KPF. The second one is the Patio Victor Malzoni Building, constructed in 2011 and designed by Botti Rubin Arquitetos office and the third study case is the Comendador Yerchanik Kissajikian Building (CYK) constructed in 2003 and designed by KV&A architecture office.

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Coordenação de Aperfeiçoamento de Pessoal de Nível Superior

Recent observations of solar flares at high-frequencies have provided evidence of a new spectral component with fluxes increasing with frequency in the sub-THz to THz range. This new component occurs simultaneously but is separated from the well-known microwave spectral component that maximizes at frequencies of a few to tens of GHz. The aim of this work is to study in detail a mechanism recently suggested to describe the double spectrum observed in solar flares based on the physical process known as microbunching instability, which occurs with high-energy electron beams in laboratory accelerators. Such a process is responsible for the production of synchrotron radiation with a double spectrum similar to that observed in solar flares, showing a broadband coherent synchrotron radiation component (CSR) and a distinct incoherent synchrotron radiation component (ISR) with maximum at higher frequencies.

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Fundação de Amparo a Pesquisa do Estado de São Paulo

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior

Given the broad topic in the field of capital structure, this work aims to contribute to the advancement of studies analyzing firms belonging to São Paulo Stock Exchange (BOVESPA), from 1995 to 2013. With the focus on identifying the behavior of financial leverage and the speed adjustment under different macroeconomic conditions, analogously with Cook and Tang (2010) and Mukherjee and Mahakud (2012). Some studies realized in other countries and also in Brazil used the macroeconomic variables as part of the company's debt composition, and there are, by all stakeholders, the need to improve knowledge on how companies react to changes of these macroeconomic variables. From a sample of 334 Brazilian, the panel was used in the art, applying the fixed effects method and then using dynamic through the GMM method (General Method of Moments) as a way to compare the results obtained in the static model and understand the leverage adjustment speed. Our results demonstrate that Brazilian companies are influenced by GDP and M4 when there is an unfavorable moment in the economy, adjusting their leverage faster, unlike in the case of the Selic interest rate, interest spread, inflation and exchange. In general, it appears that in Brazil companies tend to increase leverage when there is less growth for not sufiencientes reserves to survive the fall of the growth, and benefits from the low rates of times to get the most benefit front of banks and companies of development.

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior

The present study aims to show compliance with Laurence Bardin’s Content Analysis technique when understanding written publications used by the humanities disciplines in High School. Considered an instrument of research which searches for different signifier and signified in messages – the background of communication – this methodology aims at making the reader more distrustful of the assumptions made in a text and aware of spontaneous or superficial reading. This research was applied in practice when teaching the subject of Sociology, at a private school in São Paulo, at the time at which determining the relevance of the methodology in everyday school conditions were aimed. The results achieved by inferences and interpretations per categories as well as those obtained by frequency or lack of information in documents served as a comparison with different text analyses which did not use the Bardin’s technique. An expressive group of students achieved relevant results throughout the copious meanings of messages acquisition, being able to assess and even deconstruct the author's intentions and its contextual conditions

Uma das primeiras e primordiais funções da arquitetura é fornecer abrigo para homem, protegendo-o dos perigos da natureza. De início, na pré - história, o homem nômade buscava abrigo em cavernas, que foram concebidas devido aos caprichos da natureza. A partir do desenvolvimento da agricultura, em paralelo com a linguagem e a escrita, o homem passou de uma vida nômade para uma vida sedentária, gerando a necessidade de construir o seu próprio abrigo. O homem então desenvolve diversas técnicas de construção e uma enorme variedade de abrigos, de acordo com a condição geográfica em que cada sociedade vivia. Hoje, esse tipo de construção é chamada de arquitetura vernacular, uma arquitetura que foi desenvolvida e refinada ao longo dos séculos e que responde as condições do contexto físico e cultural em que está inserida. Nos dias de hoje, com a crescente preocupação em relação a sustentabilidade das construções e os avanços nas TICs (Tecnologias de Informação da Comunicação), que deram origem a novas ferramentas digitais de projeto, tais como ferramentas de analíse, simulação e geração, características intrínsecas da arquitetura vernacular surgem como princípio norteador do projeto arquitetônico, dando origem as tais arquiteturas performáticas ou performativas, arquiteturas que respondem a critérios definidos de performance, como conforto térmico, acústico, etc., se justificando através do processo em que a forma final foi concebida, que 9 relaciona tanto questões do meio climático como o meio cultural em que a arquitetura está inserida. O presente trabalho busca desenvolver uma abordagem projetual alinhada com esses conceitos, buscando desenvolver uma arquitetura que responde genuinamente ao contexto físico e cultural em que está inserida, por meio do estudo das ferramentas digitais de projeto e aplicação delas no processo projetual.

The object of analysis of the research concerned is four advertisements of Veja magazine, part of the campaign who reads Veja understands both sides. Therewith, we will comprehend the current function of lettering and typography in the context of advertising language as a key element in the construction of meaning and, therefore, support of the verbvisuality. The word form, by the way, is usually linked to the visual esthetics when, actually, it contributes to meaning construction as much the proper textual content. What is proposed, then, is the perception of the graphic element as a sign transposing Gestalt psychology and therefore carries in its interior a lot of voices that interact with each other and with the socio-historical context. There are many typography fonts or letters design that are part of the history and represent this relationship in its form. The question behind this proposal, in short, is knowing how to see , ie a distinct visual perception. For this, we ll use as a foundation for the considerations in this research authors such as João Gomes Filho, Paulo Heitlinger, Adilson Citelli, Ellen Lupton, Erik Spiekermann, Donis Dondis, Petter Bonnici, Maria Fernanda Lopes Almeida, among others.

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Fundo Mackenzie de Pesquisa