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Search Results: 1 - 10 of 664 matches for " Terra "
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Leverage and the Maturity Structure of Debt in Emerging Markets  [PDF]
Cesario Mateus, Paulo Terra
Journal of Mathematical Finance (JMF) , 2013, DOI: 10.4236/jmf.2013.33A005

The aim of this paper is to analyse for a multi-country large emerging market sample the choice between debt and equity simultaneously with the decision between short- and long-term debts. In order to investigate the joint decision among leverage and maturity, we examine an unique sample of 986 firms and 13,490 firm-year observations from Latin America and 686 firms and 7919 firm-year observations from Eastern Europe for the period 1990-2003. We employ dynamic panel data analysis using Generalized Method of moments. The empirical results support three main findings. First, the cross-effects between leverage and maturity behave exactly the opposite between Latin America and Eastern Europe sub-samples. Capital structure and debt maturity are policy complements in Latin America and substitutes in Eastern Europe. Second, there is a significant dynamic effects component in the determination of leverage and maturity. Finally, adjustment to the target, maturity is by no means costless and instantaneous with firm’s facing moderate adjustment costs.

La actualidad del pensamiento político de Kant
EPISTEME , 2008,
Abstract: in this paper, we seek to show the present force of kant?s political thought, exposing four themes: 1) the philosophy of history as a learning process of the political-juridical gains and losses; 2) the maintenance of a tense relation between the liberal and the democratic perspectives (in other words, the articulation between human rights and popular sovereignty; 3) aufkl?rung and the formation of the public sphere; 4) cosmopolitan right against colonialism.
Once ensayos filosóficos
Constanza Terra
Aisthesis , 2011,
Topological Amenability
Terra Antonio
Mathematics , 2011,
Abstract: Let G be a locally compact topological group and X a compact space with continuous G-action. The main result of this essay states that the following statements are equivalent : 1) The action of G on X is topologically amenable ; 2) Every dual (G, X)-module of type C is a relatively injective Banach G-module ; 3) There is a G-invariant element in the double dual of C(X, L1(G)).
Stable solutions of equations with a quadratic gradient term
Joana Terra
Mathematics , 2013,
Abstract: We study existence and regularity properties of stable positive solutions to the nonvariational problem - Delta u - b(x)|nabla u|^2 = lambda g(u) in a bounded smooth domain. In the case where b is constant, by means of a Hopf-Cole transformation, the problem can be taken to a variational form, for which there are classical results of Crandall-Rabinowitz, Mignot-Puel and Brezis-Vazquez. In this paper we obtain results for a general bounded function b=b(x) which coincide with the classical ones in the constant b case.
Clinical review: Update of avian influenza A infections in humans
Christian Sandrock, Terra Kelly
Critical Care , 2007, DOI: 10.1186/cc5675
Abstract: Human influenza pandemics over the last 100 years have been caused by H1, H2, and H3 subtypes of influenza A viruses. More recently, avian influenza virus subtypes (that is, H5, H7) have been found to directly infect humans from their avian hosts. The recent emergence, host expansion, and spread of a highly pathogenic avian influenza (HPAI) H5N1 subtype in Asia have heightened concerns globally, both in regards to mortality from HPAI H5N1 infection in humans and the potential of a new pandemic. This paper will review the current human infections with avian influenza and their public health and medical implications.Influenza A, B and C are the most important genera of the Orthomyxoviridae family, casusing both pandemic and seasonal disease in humans. Influenza A viruses are enveloped, single-stranded RNA viruses with a segmented genome (Table 1) [1]. They are classified into subtypes on the basis of the antigenic properties of the hemagglutinin (HA) and neuraminidase (NA) glycoproteins expressed on the surface of the virus [1,2]. Influenza A viruses are characterized by their pathogenicity, with highly pathogenic avian influenza (HPAI) causing severe disease or death in domestic poultry [3]. Molecular changes in the RNA genome occur through two main mechanisms: point mutation (antigenic drift) and RNA segment reassortment (antigenic shift) [4,5]. Point mutations cause minor changes in the antigenic character of viruses and are the primary reason a vaccination for influenza A is given yearly. Reassortment occurs when a host cell is infected with two or more influenza A viruses, leading to the creation of a novel subtype. The influenza subtypes of the 1957 (H2N2) and 1968 (H3N2) pandemics occurred through reassortment, while the origins of the 1918 (H1N1) pandemic are unclear.The HA glycoprotein mediates attachment and entry of the virus by binding to sialic acid receptors on the cell surface. The binding affinity of the HA to the host sialic acid allows for the host s
Evolution of holometabola insect digestive systems: physiological and biochemical aspects
Terra, Walter R.;
Memórias do Instituto Oswaldo Cruz , 1987, DOI: 10.1590/S0074-02761987000700007
Abstract: this review takes into account primarily the work done in our laboratory with insects from the major holometabola orders. only the most significant data for each insect will be presented and a proposal on the evolution of holometabola insect digstive systems will be advanced.
La pérdida del trabajo petrolero: transformaciones laborales, materiales e identitarias
Mu?iz Terra,Leticia;
Av?? , 2008,
Abstract: in this article we analyze the consequence that the privatizations of refinery la plata ypf had on their workers. following a qualitative research, we made 30 opens interviews to refinery′s ex - employees. we study the importance that the company had to their labor, family and social life and the consequence that the privatization`s firm brought for theirs. therefore, we analyze what the ex workers lost with their job. we study the reestructurations policies of the company, their impact in the subjectivity`s workers, the difficult process of labor reintegration, the family impoverishment and the identity break that the petroleum workers had been build when they worked in the refinery.
Are leverage and debt maturity complements or substitutes? Evidence from Latin America
Terra, Paulo Renato Soares;
RAM. Revista de Administra??o Mackenzie , 2009, DOI: 10.1590/S1678-69712009000600003
Abstract: the aim of this paper is to investigate the choice between debt and equity simultaneously with the decision between short- and long-term debt for a large sample of emerging markets from latin america. in order to do this, we test a model (barclay; marx; smith jr., 2003) of joint capital structure and debt maturity determination for a sample of 986 firms from latin america in the period 1990-2002, employing the generalized method of moments on a system of equations. the empirical results support three main findings. first, capital structure and debt maturity are financial policy complements in latin america. second, there is a substantial dynamic component in the determination of debt maturity that has been neglected by previous research. finally, firms face moderate adjustment costs towards their optimal maturity. results are robust to variation in sample composition in terms or countries, industries, and years.
The political economy of exchange rate policy in Brazil: an empirical assessment
Bonomo, Marco;Terra, Cristina;
Revista Brasileira de Economia , 1999, DOI: 10.1590/S0034-71401999000400001
Abstract: this paper investigates whether political economy factors contribute to explain the exchange rate policy in brazil from 1964 to 1997. an analytical framework presents the tradeoff between the positive effect of a depreciated exchange rate on the balance of payments and its negative effect on inflation as driving force affecting exchange rate policy. the exchange rate policy resulting from this tradeoff depends on the political environment. we test our hypotheses by modeling the exchange rate disequilibrium level as a markov switching model with time varying transition probabilities, and the influence of political economy variables on the transition probabilities is tested. the results support partially the predictions of our analytical framework. according to our statistical results there is an election cycle: the probability of having an overvalued exchange rate is higher in the months preceding elections, while the probability of having an undervalued exchange rate is higher in the months succeeding elections.
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