Resumen La napa freática superficial del Alto Valle causa un ascenso capilar (AC) que en primavera y otoño modifica el balance hídrico del suelo. El objetivo es evaluar el efecto del AC sobre el desempeño del riego superficial durante una tempo-rada de crecimiento en perales Bartlett. Se evaluaron tres momentos de riego, de septiembre a abril (temporada 2020-2021) y se calcularon las láminas de riego para obtener las eficiencias. El nivel freático (NF) se midió mensualmente en un freatímetro. El AC se calculó con el software UPFLOW. El contenido de agua del suelo se midió con sensores de reflectometría de dominio de frecuencia (FDR) a: 0,20 m, 0,40 m y 0,60 m. La eficiencia del uso del agua (EUA) y la productividad del agua (PA) se calcularon utilizando el rendimiento del cultivo, las láminas de riego aplicadas y la demanda de agua del cultivo. El NF fue más superficial en primavera que durante el resto de la temporada. La pro-fundidad media fluctuó entre 0,70-1,20 m a inicio de la primavera. Los datos del sensor FDR más profundo mostraron un aumento de la humedad del suelo debido al AC, que afecta negativamente al desempeño del riego si no se incluye como componente del balance hídrico. Programar el riego considerando la humedad del suelo y el AC permite aplicar láminas de agua según sean necesarias en cada etapa de desarrollo del cultivo. Mejorar el desempeño del riego y la EUA resulta en una estrategia de gestión sostenible del agua en la producción de peras.

Resumo O lençol freático superficial do Vale Superior provoca uma ascensão capilar (AC) que na primavera e no outono modi-fica o equilíbrio hídrico do solo. Objetivo: avaliar o efeito da AC no desempenho da irrigação superficial durante o período vegetativo em peras 'Bartlett'. Foram avaliados três momentos de irrigação, de setembro a abril (safra 2020-2021) e calculadas as folhas de irrigação para obtenção das eficiências. O lençol freático (NF) foi medido mensal-mente em freatímetro. A AC foi calculada com o software UPFLOW. O conteúdo de água no solo foi medido com sen-sores de reflectometria no domínio da frequência (FDR) em: 0,20 m, 0,40 m e 0,60 m. A eficiência do uso da água (EUA) e a produtividade da água (AP) foram calculadas usando o rendimento das culturas, as taxas de irrigação apli-cadas e a demanda de água das culturas. O NF foi mais raso na primavera do que durante o resto da temporada. A profundidade média oscilou entre 0,70-1,20 m no início da primavera. Os dados do sensor FDR mais profundo mos-traram um aumento na umidade do solo devido à AC, o que afeta negativamente o desempenho da irrigação se não for incluído como um componente do balanço hídrico. Programar a irrigação considerando a umidade do solo e a AC permite a aplicação de lâminas de água conforme necessário em cada etapa do desenvolvimento da cultura. A me-lhoria do desempenho da irrigação e da WUE resulta numa estratégia sustentável de gestão da água na produção de peras.

Abstract The shallow water table in Río Negro and Neuquén valley causes a capillary rise (CR) that modifies the water content in soil profile. Therefore, irrigation performance is expected to be affected by the capillary water input into the root zone. The aim of this study was to evaluate the effect of CR on surface irrigation performance during 2020-2021 growing season in a pear orchard. In a Bartlett pear orchard planted in 2003, three irrigation moments were evaluated, and irrigation sheets were calculated to obtain efficiency. Water table level (WTL) was measured monthly in an open aquifer piezometer. CR was calculated with the software UPFLOW. Soil water content was measured with a Frequency Domain Reflectometry (FDR) sensor at: 0.20 m, 0.40 m, and 0.60 m. Water use efficiency (WUE) and water productivity were calculated using pear crop yield and the irrigation sheets applied and the crop water demand, respectively. WTL was shallower in spring than in the rest of the season. The mean depth fluctuated between 0.70-1.20 m during spring, affecting irrigation performance. Data of FDR deepest sensor showed an increase of soil moisture due to CR. Capillary contribution negatively affects irrigation efficiency if it is not included in the water balance. Irrigation schedules can be re-arranged considering soil moisture and CR. In this way, the necessary water sheets could be applied in each crop development stage adjusted to water demand. Improving irrigation performance and WUE enables a sustainable water management strategy in pear production.

RESUMEN Este trabajo pretende demostrar que la actual crisis bancaria que se ha presentado en Estados Unidos no es un evento aislado ni coyuntural, sino que es el más reciente acontecimiento de una continua serie de ciclos de fragilidad financiera ocasionada por el manejo conservador de la política monetaria de la Reserva Federal desde 1965. Para esto realizamos un análisis teórico y descriptivo crítico que muestra el impacto de la Reserva Federal sobre la valoración cíclica de los portafolios en Estados Unidos y también el efecto adverso en la dinámica macroeconómica de América Latina desde 1980. La conclusión es que la fragilidad financiera creciente de los balances de los agentes durante el auge provoca que las medidas de control inflacionario mediante la tasa de interés tengan un efecto incluso permanente en la economía.

ABSTRACT The aim of this paper is to demonstrate that the current banking crisis in the United States is not an isolated or conjunctural event, but rather the most recent event in a continuous series of cycles of financial fragility caused by the conservative management of the Federal Reserve’s monetary policy since 1965. For this purpose, a critical theoretical and descriptive analysis is carried out, showing the impact of the Federal Reserve on the cyclical valuation of portfolios in the United States and also the adverse effect on the macroeconomic dynamics of Latin America since 1980. The conclusion is that the increasing financial fragility of agents’ balance sheets during the boom causes inflationary control measures through the interest rate to have an adverse permanent effect on the economy.

ABSTRACT Introduction: Chronic thromboembolic pulmonary hypertension (CTEPH) is a severe disease treated with pulmonary endarterectomy. Our study aims to reveal the differences in liquid modalities and operation modifications, which can affect the patients’ mortality and morbidity. Methods: One hundred twenty-five patients who were diagnosed with CTEPH and underwent pulmonary thromboendarterectomy (PTE) at our center between February 2011 and September 2013 were included in this retrospective study with prospective observation. They were in New York Heart Association functional class II, III, or IV, and mean pulmonary artery pressure was > 40 mmHg. There were two groups, the crystalloid (Group 1) and colloid (Group 2) liquid groups, depending on the treatment fluids. P-value < 0.05 was considered statistically significant. Results: Although the two different fluid types did not show a significant difference in mortality between groups, fluid balance sheets significantly affected the intragroup mortality rate. Negative fluid balance significantly decreased mortality in Group 1 (P<0.01). There was no difference in mortality in positive or negative fluid balance in Group 2 (P>0.05). Mean duration of stay in the intensive care unit (ICU) for Group 1 was 6.2 days and for Group 2 was 5.4 days (P>0.05). Readmission rate to the ICU for respiratory or non-respiratory reasons was 8.3% (n=4) in Group 1 and 11.7% (n=9) in Group 2 (P>0.05). Conclusion: Changes in fluid management have an etiological significance on possible complications in patient follow-up. We believe that as new approaches are reported, the number of comorbid events will decrease. Introduction (CTEPH endarterectomy modifications morbidity Methods twentyfive twenty five PTE (PTE 201 observation II III IV 4 mmHg groups fluids Pvalue P value 005 0 05 0.0 Results P<0.01. P001 P<0.01 . 01 (P<0.01) P>0.05. P005 P>0.05 (P>0.05) (ICU 62 6 6. 54 5 5. nonrespiratory non 83 8 3 8.3 n=4 n4 n (n=4 117 11 7 11.7 n=9 n9 9 (n=9 Conclusion followup. followup follow up. up follow-up reported decrease 20 00 0. P00 P<0.0 (P<0.01 P>0.0 (P>0.05 8. n= (n= 11. P0 P<0. (P<0.0 P>0. (P>0.0 (n P<0 (P<0. P>0 (P>0. P< (P<0 P> (P>0 (P< (P> (P

Abstract In this article we provide the first long-term series of Chile’s per capita consumption of a wide range of key foodstuffs: cereals, legumes, potatoes, meats and dairy products from 1930 to 2019, based on food balance sheets and complementary information from FAO, consumer price indexes and surveys of family budget. Based on this information, we examined and characterised the timing and nature of Chile’s nutrition transition (NT), concluding that there was a NT within a short period of time (common to countries which develop comparatively late), with the average dietary energy consumption increasing from 2,600-2,700 kcal per person per day to slightly over 3,000 within a few decades. In Chile, as in most countries that have experienced a NT, dietary options became more diverse, but also less vegetarian: the consumption of meat and dairy products increased dramatically; there was an unprecedented decline in the consumption of legumes, and there was also a less substantial reduction in the average intake of potatoes. Yet, if compared to the NT experienced by most developed countries, the combined consumption of cereals in Chile has remained unusually stable.

Resumen En este artículo proporcionamos la primera serie de largo plazo de consumo per cápita en Chile de una amplia gama de alimentos clave: cereales, legumbres, papas, carnes y productos lácteos, desde 1930 a 2019, en base a los balances de alimentos e información complementaria de la FAO, índices de precios al consumidor y encuestas de presupuesto familiar. Basándonos en dicha información, examinamos y caracterizamos la temporalidad y naturaleza de la transición nutricional (NT) en Chile, concluyendo que hubo una NT en un corto periodo de tiempo (común en los países que se desarrollan comparativamente tarde), con un consumo promedio de energía alimentaria que aumentó de 2.600-2.700 kcal diarias por persona a poco más de 3.000 en unas pocas décadas. En Chile, como en la mayor parte de países que han experimentado una NT, las opciones dietéticas se volvieron más diversas pero también menos vegetarianas: el consumo de carne y productos lácteos aumentó drásticamente; hubo una disminución sin precedentes en el consumo de legumbres y también hubo una reducción, menos sustancial, en la ingesta promedio de papas. Sin embargo, si se compara con la NT experimentada por la mayoría de los países desarrollados, el consumo combinado de cereales en Chile se ha mantenido inusualmente estable.

O objetivo deste artigo é descrever a expressão da financeirização em um conjunto de dez empresas e grupos econômicos atuantes no comércio de planos e seguros de saúde no Brasil entre 2008 e 2016, selecionadas pelo faturamento e pelo tamanho da carteira de clientes. As dimensões contábil/financeira e patrimonial foram analisadas a partir dos balanços patrimoniais e fluxos de caixa cotejados com indicadores microeconômicos de financeirização e dos registros de alteração na composição societária depositados em juntas comerciais. Para analisar o posicionamento político das empresas recorreu-se a dados primários de entrevistas semiestruturadas com representantes qualificados bem como à análise de relatórios aos acionistas e notícias de mídia especializada. Em síntese, a dominância financeira encontra expressão nas empresas de planos de saúde estudadas, mas a sua caracterização não obedece a um padrão homogêneo universalmente reproduzível, devendo a pesquisa empírica ocupar um lugar de destaque na investigação do fenômeno. Sendo a saúde e o seu componente assistencial definidos constitucionalmente como bens de relevância pública que solicitam o amparo de políticas estáveis e equitativas na distribuição dos recursos disponíveis e a tendência oligopolista e concentradora de recursos inerentes ao processo de financeirização contraditória com essa diretriz, e dado o lócus estratégico ocupado por essas empresas, as perspectivas projetadas para o conjunto do sistema tendem a evoluir para aumento dos gastos totais em saúde com maior concentração de recursos assistenciais e puncionamento dos recursos em circulação pela esfera da acumulação financeira.

The article aims to describe the characteristics of financialization in a set of ten companies and economic groups operating health plans and insurance in Brazil from 2008 to 2016, selected according to their turnover and the size of their client portfolio. The financial/accounting and net worth dimensions were analyzed according to the balance sheets and cash flows, compared to microeconomic indicators of financialization and the records of changes in the shareholding structure filed with commercial boards. The authors analyzed the companies’ policy positions based on primary data from semi-structured interviews with qualified representatives and the analysis of shareholder reports and news from the specialized media. In short, financial dominance is expressed in the health plans studied here, but their characterization does not follow a universally reproducible and homogeneous pattern, and empirical research should play a key role in further investigating the phenomenon. Since health and healthcare are defined constitutionally as publicly relevant goods that require support by stable and equitable policies in the distribution of available resources, and given the oligopolistic and concentrating trend in the inherent resources in the process of financialization (in opposition to this guideline) and the strategic place occupied by these companies, the prospects for the system as a whole tend to evolve towards an increase in total health expenditures, with greater concentration of healthcare resources and circulation of resources in the financial accumulation sphere.

El objetivo de este artículo es describir la expresión de la financiarización en un conjunto de diez empresas y grupos económicos agentes en la comercialización de planes y seguros de salud en Brasil entre 2008 y 2016, seleccionados por su facturación y tamaño de su cartera de clientes. Las dimensiones contable/financiera y patrimonial se analizaron a partir de los balances patrimoniales y flujos de caja cotejados con indicadores microeconómicos de financiarización, así como de los registros de modificación en la composición societaria depositados en juntas comerciales. Para analizar el posicionamiento político de las empresas se recurrió a datos primarios de entrevistas semiestructuradas con representantes cualificados, así como al análisis de informes a los Accionistas y noticias de medios especializados. En resumen, el dominio financiero encuentra expresión en las empresas de planes de salud estudiadas, pero su caracterización no obedece a un patrón homogéneo universalmente reproducible, debiendo ocupar la investigación empírica un lugar de relevancia en la investigación del fenómeno. Siendo la salud y su componente asistencial definidos constitucionalmente como bienes de relevancia pública que solicitan el amparo de políticas estables y equitativas en la distribución de los recursos disponibles, y la tendencia oligopolista y concentradora de recursos inherentes al proceso de financiarización contradictoria con esa directriz, y dado el locus estratégico ocupado por esas empresas, las perspectivas proyectadas para el conjunto del sistema tienden a evolucionar hacia el aumento de los gastos totales en salud con mayor concentración de recursos asistenciales y acaparamiento de los recursos en circulación por parte de la esfera de acumulación financiera.

The article aims to describe the characteristics of financialization in a set of ten companies and economic groups operating health plans and insurance in Brazil from 2008 to 2016, selected according to their turnover and the size of their client portfolio. The financial/accounting and net worth dimensions were analyzed according to the balance sheets and cash flows, compared to microeconomic indicators of financialization and the records of changes in the shareholding structure filed with commercial boards. The authors analyzed the companies’ policy positions based on primary data from semi-structured interviews with qualified representatives and the analysis of shareholder reports and news from the specialized media. In short, financial dominance is expressed in the health plans studied here, but their characterization does not follow a universally reproducible and homogeneous pattern, and empirical research should play a key role in further investigating the phenomenon. Since health and healthcare are defined constitutionally as publicly relevant goods that require support by stable and equitable policies in the distribution of available resources, and given the oligopolistic and concentrating trend in the inherent resources in the process of financialization (in opposition to this guideline) and the strategic place occupied by these companies, the prospects for the system as a whole tend to evolve towards an increase in total health expenditures, with greater concentration of healthcare resources and circulation of resources in the financial accumulation sphere.

O objetivo deste artigo é descrever a expressão da financeirização em um conjunto de dez empresas e grupos econômicos atuantes no comércio de planos e seguros de saúde no Brasil entre 2008 e 2016, selecionadas pelo faturamento e pelo tamanho da carteira de clientes. As dimensões contábil/financeira e patrimonial foram analisadas a partir dos balanços patrimoniais e fluxos de caixa cotejados com indicadores microeconômicos de financeirização e dos registros de alteração na composição societária depositados em juntas comerciais. Para analisar o posicionamento político das empresas recorreu-se a dados primários de entrevistas semiestruturadas com representantes qualificados bem como à análise de relatórios aos acionistas e notícias de mídia especializada. Em síntese, a dominância financeira encontra expressão nas empresas de planos de saúde estudadas, mas a sua caracterização não obedece a um padrão homogêneo universalmente reproduzível, devendo a pesquisa empírica ocupar um lugar de destaque na investigação do fenômeno. Sendo a saúde e o seu componente assistencial definidos constitucionalmente como bens de relevância pública que solicitam o amparo de políticas estáveis e equitativas na distribuição dos recursos disponíveis e a tendência oligopolista e concentradora de recursos inerentes ao processo de financeirização contraditória com essa diretriz, e dado o lócus estratégico ocupado por essas empresas, as perspectivas projetadas para o conjunto do sistema tendem a evoluir para aumento dos gastos totais em saúde com maior concentração de recursos assistenciais e puncionamento dos recursos em circulação pela esfera da acumulação financeira.

El objetivo de este artículo es describir la expresión de la financiarización en un conjunto de diez empresas y grupos económicos agentes en la comercialización de planes y seguros de salud en Brasil entre 2008 y 2016, seleccionados por su facturación y tamaño de su cartera de clientes. Las dimensiones contable/financiera y patrimonial se analizaron a partir de los balances patrimoniales y flujos de caja cotejados con indicadores microeconómicos de financiarización, así como de los registros de modificación en la composición societaria depositados en juntas comerciales. Para analizar el posicionamiento político de las empresas se recurrió a datos primarios de entrevistas semiestructuradas con representantes cualificados, así como al análisis de informes a los Accionistas y noticias de medios especializados. En resumen, el dominio financiero encuentra expresión en las empresas de planes de salud estudiadas, pero su caracterización no obedece a un patrón homogéneo universalmente reproducible, debiendo ocupar la investigación empírica un lugar de relevancia en la investigación del fenómeno. Siendo la salud y su componente asistencial definidos constitucionalmente como bienes de relevancia pública que solicitan el amparo de políticas estables y equitativas en la distribución de los recursos disponibles, y la tendencia oligopolista y concentradora de recursos inherentes al proceso de financiarización contradictoria con esa directriz, y dado el locus estratégico ocupado por esas empresas, las perspectivas proyectadas para el conjunto del sistema tienden a evolucionar hacia el aumento de los gastos totales en salud con mayor concentración de recursos asistenciales y acaparamiento de los recursos en circulación por parte de la esfera de acumulación financiera.

ABSTRACT A resource balance comprises a method to monitor sources and uses of a given material. The wood resource balance analyses origins of wood resources used in the production of semi finished forest products. At the same time, the resource balance helps tracking wood processing residues and its further uses. A primary survey with 113 companies was conducted and official statistics were consulted to carry out the first wood resource balance for Brazilian plantation forests. The balance sheets were analysed for 2008 and 2018. Wood resources consumption increased from 208 to 231 million m³. Wood processing residues volumes had grown by 19 % in the same period. Round wood demand for material use accounted to 66 % in 2018 whilst 99 % of residues were used energetically. The sector’s supply and production sides have shown to be in an exceptional balance. An increase on resource efficiency and cascading uses was observed in Brazil during the analysed period. The plantation forests supplied the greater domestic demand for round wood which relieves use pressure on natural forests.

Abstract This paper aims to present a methodology for calculating the rate of profit of an individual industrial capital using annual reports and accounting balance sheets from companies and developments presented by Marx. Despite the importance of the estimation of the rate of profit as an indicator of capital appreciation capacity, few studies have advanced in the study of the specific problems in calculating it. In general they take the margins as a measure of profitability, leaving aside the advanced capital to be valued. Given our objective, the first section of the paper is aimed at qualitatively defining our object of study. Then we proceed with a bibliographic review of the subject being studied from the early 19th century until today. Finally, we develop a methodology that considers the reestimation of fixed constant capital to be valued, as well as earnings obtained to determine the rate of profit of the individual capital.

Resumen El objetivo de este trabajo es presentar una metodología para calcular la tasa de ganancia de un capital individual industrial a partir de las Memorias y balances de las empresas sobre los desarrollos presentados por Marx. A pesar de la importancia que tiene la estimación de la tasa de ganancia en tanto indicador de la capacidad de valorización del capital, pocos estudios avanzaron en el estudio de las problemáticas específicas de su cálculo. En general toman los márgenes como medida de rentabilidad, pero dejan de lado el capital adelantado a valorizar. En función de nuestro objetivo, el primer apartado del trabajo está dirigido a definir cualitativamente el objeto de estudio. Luego se avanza en una revisión bibliográfica sobre el tema estudiado desde comienzos del siglo XIX hasta la actualidad, para finalmente desarrollar una metodología que contempla la reestimación del capital constante fijo a valorizar, así como de las ganancias obtenidas para determinar la tasa de ganancia del capital individual.

ABSTRACT: Data Mining techniques play an important role in the prediction of soil spatial distribution in systematic soil surveying, though existing methodologies still lack standardization and a full understanding of their capabilities. The aim of this work was to evaluate the performance of preprocessing procedures and supervised classification approaches for predicting map units from 1:100,000-scale conventional semi-detailed soil surveys. Sheets of the Brazilian National Cartographic System on the 1:50,000 scale, “Dois Córregos” (“Brotas” 1:100,000-scale sheet), “São Pedro” and “Laras” (“Piracicaba” 1:100,000-scale sheet) were used for developing models. Soil map information and predictive environmental covariates for the dataset were obtained from the semi-detailed soil survey of the state of São Paulo, from the Brazilian Institute of Geography and Statistics (IBGE) 1:50,000-scale topographic sheets and from the 1:750,000-scale geological map of the state of São Paulo. The target variable was a soil map unit of four types: local “soil unit” name and soil class at three hierarchical levels of the Brazilian System of Soil Classification (SiBCS). Different data preprocessing treatments and four algorithms all having different approaches were also tested. Results showed that composite soil map units were not adequate for the machine learning process. Class balance did not contribute to improving the performance of classifiers. Accuracy values of 78 % and a Kappa index of 0.67 were obtained after preprocessing procedures with Random Forest, the algorithm that performed best. Information from conventional map units of semi-detailed (4th order) 1:100,000 soil survey generated models with values for accuracy, precision, sensitivity, specificity and Kappa indexes that support their use in programs for systematic soil surveying.

Abstract: The aim of this study was to compare the per capita milk supply between South American countries during the last five decades. The data in the food balance sheets reported by the FAO were analyzed through a general lineal model with Tukey contrast as well as one-dimensional exploratory descriptive statistics, Cluster and Biplot analyses. The South American countries exhibited differences on the quantity of milk supply for human consumption. Uruguay and Argentina showed the greater milk supply throughout the period while Bolivia, Peru and Paraguay the lower. There is a gap between the quantity of milk supply and the nutritional needs of the foodstuff. Despite the majority of the South American countries increased the quantity of milk along time, none of them achieved the international nutritional recommendation.

Resumen: El objetivo del estudio fue comparar la cantidad per cápita de leche disponible entre países de Sudamérica durante las últimas cinco décadas. Se analizaron los datos reportados en las hojas de balance de alimentos de la FAO a través del modelo lineal general con contraste de Tukey e igualmente se utilizó estadística descriptiva exploratoria de tipo unidimensional y análisis de Cluster y Biplot. Se presentaron diferencias entre países de Sudamérica en lo relacionado con la cantidad de leche disponible para consumo humano. Uruguay y Argentina mostraron mayor disponibilidad a lo largo del periodo mientras que Bolivia, Perú y Paraguay menor. Se encontró una brecha entre la cantidad de leche disponible y la recomendación nutricional de consumo del alimento. Ninguno de los países de la región alcanzó a cubrir las recomendaciones nutricionales internacionales, a pesar de que la mayoría de ellos incrementó la cantidad de leche disponible a lo largo del tiempo.

Resumo O artigo realça o valor do Sistema de Informações em Economia Solidária para a compreensão da economia solidária no país, destacando suas possibilidades investigativas no sentido de apurar aspectos relevantes dos empreendimentos de economia solidária (EES) e identificar suas origens e tendências de desenvolvimento. Salienta as peculiaridades da economia solidária diante das formas predominantes de economia e apresenta uma tipologia dos EES, integrando-a à análise de seu processo de emergência, no qual se destaca o lastro de experiências dos trabalhadores. Essa discussão conduz a examinar o sentido da economia solidária do ponto de vista das expectativas de seus protagonistas e a relativizar teses correntes como aquela de uma reação ao desemprego ou de mera busca de benefícios econômicos. Tece comentários sobre a importância de bases de dados abrangentes para os estudos sobre a economia solidária, no sentido de estabelecer balanços sobre sua trajetória e suas forças de propulsão, finalizam o artigo.

Abstract The paper highlights the value of the Brazilian Information System on Solidarity Economy for the understanding of solidarity economy, highlighting its investigative possibilities in order to ascertain relevant aspects of Solidarity Economy Enterprises (EES) and to identify their origins and development tendencies. It emphasizes the peculiarities of the solidarity economy in the face of the predominant forms of economy and presents an EES’ typology, integrating it to the analysis of its emergent process, in which the workers' experiences are highlighted. This discussion leads to the exam of the sense of solidarity economy from the point of view of the expectations of its protagonists, and to relativize current theses such as a reaction to unemployment or the mere pursuit of economic benefits. Comments on the importance of comprehensive databases for studies on solidarity economy, in order to establish balance sheets on their trajectory and their propulsion forces, conclude the paper.

Abstract The paper’s goal is to analyze the main predictors of the cost of goods sold based on the Competitors’ Cost Analysis Technique and to verify the influence of capital structure and the capital asset on the cost of the goods sold. We collected data from Economatica and Fundamentus databases. We extracted the data from quarterly Balance Sheets and Income Statements by Brazilians companies, such as Biosev S.A., Cosan S.A. and São Martinho S.A. We used the Cost of Goods Sold (CGS) as the dependent variable in two regression models and for the explanatory variables, we used revenue, capital assets and capital structure measured by the total liability divided by total asset plus the debt-to-equity ratio. We conclude that the variable costs have the greatest influence on the cost structure of Biosev S.A. (68% of CGS) and of Cosan S.A. (79% of CGS). Capital structure and capital assets had an impact on the CGS. The capital assets and the total debt ratio plus the equity ratio presented a direct main effect and the debt-to-equity ratio presented a proportionally inverse effect.

Resumen El objetivo del artículo es analizar los principales factores predictivos del costo de los bienes vendidos en base a la Técnica de análisis de costos de los competidores y verificar la influencia de la estructura de capital y el activo de capital en el costo de los bienes vendidos (COGS). Se recopilaron datos de las bases Economatica y Fundamentus. Se extrajo los datos trimestrales de los balances y estados de resultados de empresas brasileñas, como Biosev SA, Cosan SA y São Martinho SA. Utilizamos el costo de los bienes vendidos (COGS) como variable dependiente en dos modelos de regresión y para las variables explicativas, utilizamos los ingresos, los activos de capital y la estructura de capital medidos por el pasivo total dividido por el activo total más la relación deuda / capital. Se concluye que los costos variables tienen la mayor influencia en la estructura de costos de Biosev S.A. (68% de COGS) y de Cosan S.A. (79% de COGS). La estructura de capital y los activos de capital tuvieron un impacto en el COGS. Los activos de capital y el índice de deuda total más el índice de capital presentaron un efecto principal directo y el índice de deuda a capital presentó un efecto inversamente proporcional.

Abstract: This paper focused on the use of the biogeochemical LOICZ (Land Ocean Interactions in the Coastal Zone) to investigate the dynamics of DIN and DIP nutrients among three highly urbanized tropical estuaries (Barra das Jangadas (BJ), Recife (RE) and Timbó (TB)), located in the northeastern region of Brazil. The input data were obtained through in situ measurements (2007) and governmental agency databases (2001-2007). The balances of the non-conservative elements showed that the RE and TB systems alternated between sources and sinks during the observation periods (0.2-0.8 mmoles DIP m-2 d-1 and 0.1-10 mmoles DIN m-2 d-1). The metabolism rates in the systems indicated that the BJ system was autotrophic during the two observation periods (10-26 mmoles C m-2 d-1), while the RE system was heterotrophic (9-12 mmoles C m-2 d-1). The river discharge rates observed during the period 2001-2007 showed averages ranging from 9.4±3.8 to 18.4±7.7 m3s-1. Measurements of the trophic status in the RE system during 2007 characterized the system as eutrophic, thereby demonstrating high levels of chlorophyll-a and inorganic nutrients. The applications of balance sheets modeling proved to be very useful toward understanding the dynamics of estuarine systems dominated by large urban centers.

The effect of the nitrogen content in the shielding gas and its effect on temperature distributions at the welded zone of thin sheets of duplex stainless steel have been evaluated. The duplex stainless steels have many features due to unique microstructural combination of austenite and ferrite grains. The phase balance can be easily shifted depending on the welding parameters. Two sheets were welded using pure argon and pure argon plus 2% of nitrogen as shielding gas. The thermal profile had shown that N2-supplemented shielding gas lead to higher peaks of temperature using similar welding parameters. Microstructural examination showed that the austenite phase in the weld increased with the presence of nitrogen in the shielding gas. The added nitrogen promoted primary austenite formation and slightly increases the microhardness at the solidified zone. Microhardness mapping and metallographic imaging presented information about microstructures, confirming the formation of secondary phases during thermal cycle in the temperature range 850 °C and 950 °C. Control of ferrite amounts in the welds is essential mainly to improve mechanical properties and corrosion resistance of welding zones.

Resumo O estudo teve por objetivo verificar empiricamente a existência ou não de distorção da comparabilidade da informação, quando omitidos os efeitos inflacionários nas demonstrações contábeis. Apesar de o Brasil vivenciar, desde o Plano Real, um cenário de inflação sob controle, com índices bem aquém dos registrados nas décadas de 1980 e 1990, discutir sobre a necessidade do reconhecimento contábil dos efeitos da inflação permanece como uma questão extremamente relevante e pertinente, em face da proposta da contabilidade de produzir informações fidedignas que reflitam o mais próximo à realidade econômica na qual operam as organizações. Os resultados da pesquisa evidenciam que a contabilidade financeira tem sido diretamente afetada pela omissão dos efeitos inflacionários nas demonstrações contábeis, chamando a atenção para os efeitos negativos causados à qualidade das informações por ela produzidas. Para operacionalização da pesquisa, aplicou-se, aos balanços de empresas brasileiras do subsetor de siderurgia e metalurgia listadas na Bolsa de Valores, Mercadorias e Futuros de São Paulo, no período de 1996 a 2016, a correção monetária de balanços (CMB). A partir das variáveis lucro líquido, retorno sobre o patrimônio líquido (return on equity - ROE) e retorno sobre ativos (return on assets - ROA) e de dois eixos conceituais de comparabilidade (entre empresas e entre períodos), foram desenvolvidos os parâmetros estatísticos e definidas as hipóteses, as quais foram testadas por meio do teste paramétrico t de Student. A pesquisa mostra o prejuízo causado ao processo de tomada de decisão dos usuários externos, a quem se destinam as demonstrações contábeis quando estas são preparadas, desprezando-se os efeitos da inflação. Tal prejuízo é verificável pelas análises dos resultados obtidos, dentre as quais a observação de relevantes distorções entre as médias dos indicadores corrigidos e as médias dos indicadores históricos, como o caso do lucro líquido em 2001, 2002, 2012, 2013, 2014 e 2016 (33,98, 91,92, -65,54, -30,01, -53,59 e 26,30% de variação, respectivamente), do ROE (-67,16, -61,43, -53,06, -63,46, -133,81 e 65% de variações em 2008, 2009, 2010, 2011, 2014 e 2015, respectivamente) e do ROA (-26,70, -41,14, -33,34, -43,49, 98,83 e -413,68% em 2005, 2009, 2010, 2011, 2012 e 2014, respectivamente).

Abstract The purpose of this study was to empirically verify the existence or not of a distortion in the comparability of information when inflationary effects are omitted from financial statements. Although inflation has been under control in Brazil since the Plano Real, with indices well below those recorded in the 1980s and 1990s, discussing the need for accounting recognition of the effects of inflation remains an extremely relevant and pertinent issue in light of the proposal of accounting to produce faithful information that closely reflects the economic reality in which organizations operate. The results of the research show that financial accounting has been directly affected by the omission of inflationary effects in financial statements, drawing attention to the negative effects this has caused on the quality of the information produced. In order to operationalize the research, the Balance Sheet Monetary Correction (BSMC) was applied to the balance sheets of Brazilian companies from the siderurgical and metallurgical sector listed on the BM&FBOVESPA in the period from 1996 to 2016. Based on the variables net income, return on equity (ROE), and return on assets (ROA), and two conceptual axes of comparability (between entities and between periods), the statistical parameters were developed and the hypotheses were defined, which were tested using the Student t parametric test. This article shows the damage caused to the decision-making process of the external users for whom financial statements are intended when these are prepared neglecting the effects of inflation. This is verifiable through the analyses of the results obtained, including the observation of significant distortions between the means of the corrected indicators and the means of the historical indicators, such as in the case of net income in 2001, 2002, 2012, 2013, 2014, and 2016 (33.98%, 91.92%, -65.54%, -30.01%, -53.59%, and 26.30% variation, respectively), of ROE (-67.16%, -61.43%, -53.06%, -63.46%, -133.81%, and 65.00% variations in 2008, 2009, 2010, 2011, 2014, and 2015, respectively), and of ROA (-26,70%, -41.14%, -33,34%, -43,49%, 98,83%, and -413,68% in 2005, 2009, 2010, 2011, 2012, and 2014, respectively).