ORCID Profile
0000-0002-7546-3101
Current Organisations
Express Academy
,
University of Adelaide
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Publisher: Emerald
Date: 02-12-2019
Abstract: This paper aims to examine the Brazilian stock market behavior and volatility term structure of two portfolios that, theoretically, the companies that comprise them have different degrees of idiosyncratic risk: one portfolio consists of firms with good corporate governance and the other comprises firms with poor corporate governance. The s le comprises corporate firms listed in the Brazilian stock market during the period from January 2008 to December 2017. Generalized autoregressive conditional heteroskedasticity models were applied. The results show that the portfolio of firms with good corporate governance practices presents fluctuations that are more often temporary and reactive, with trends’ persistence of shorter durations, when considering the punctual volatility of the parameters estimated. This opposed expectation that the portfolio comprised of companies with good governance practices are better protected from short-term movements. However, over time and with standard error measures in consideration, both portfolios’ volatilities behave in similar ways. These findings may be related to Brazilian market characteristics, such as ownership concentration, ineffective corporate boards and the ever-developing nature of the stock market in Brazil. Any one of these characteristics present challenges to effective enforcement of the corporate governance practices in the Brazilian context. The findings are potentially to the interest of researchers and practitioners for several reasons. First, this paper contributes to the growing literature on the relationship between corporate governance and market volatility. Second, it informs that volatility in the Brazilian context is likely only partially, if at all, influenced by corporate governance practices. Third, longitudinally, both indices follow the same pattern and converge to the same place.
Publisher: ABRACICON: Academia Brasileira de Ciencias Contabeis
Date: 31-03-2020
DOI: 10.17524/REPEC.V14I1.2041
Abstract: Objective: The inventory management faces a trade-off which affects firms in the relationship between whether maintaining high inventories and decreasing the probability of stock-outs or keeping inventory levels lower and applying the excess cash to other investments. Thus, this paper investigates the relationship between inventory management and performance. Method: The s le is comprised of non-financial Brazilian firms listed in the BM& FBovespa from 2010 to 2016, and due to inventory is not to be a relevant factor in the revenues of all the firms of the initial s le, it was applied a procedure to refine the s le through a simple linear regression to only comprise firms with a significant relationship between inventory and sales. To test the assumptions declared by the study, we used a quantitative approach based in a regression analysis. Results: The results indicate that the model which considers value added measurement of performance shows that there is no relationship between inventory and performance. However, a robustness check was done using the ROA to measure the performance and, in this scenario, there was a statistically inverted U-shaped relation between the profitability, the net trade cycle and its square. This means that a non-linear relationship between the variables were found, which follows the idea of an optimal level of inventory and performance. Contributions: To the best of the author’s knowledge, this is the first study that investigates an inflection point between inventory management and performance in Brazilian firms. The findings have relevant practical guidelines to the Brazilian firms and researchers in the analysis of the performance related to the net trade cycle, which it can be suggested that the Brazilian shareholders are not concerned about internal factors, as the inventory management, but if the firm is being managed profitable.
Publisher: MDPI AG
Date: 04-08-2023
DOI: 10.3390/ANI13152521
Abstract: Obtaining animal regions and the relative position relationship of animals in the scene is conducive to further studying animal habits, which is of great significance for smart animal farming. However, the complex breeding environment still makes detection difficult. To address the problems of poor target segmentation effects and the weak generalization ability of existing semantic segmentation models in complex scenes, a semantic segmentation model based on an improved DeepLabV3+ network (Imp-DeepLabV3+) was proposed. Firstly, the backbone network of the DeepLabV3+ model was replaced by MobileNetV2 to enhance the feature extraction capability of the model. Then, the layer-by-layer feature fusion method was adopted in the Decoder stage to integrate high-level semantic feature information with low-level high-resolution feature information at multi-scale to achieve more precise up-s ling operation. Finally, the SENet module was further introduced into the network to enhance information interaction after feature fusion and improve the segmentation precision of the model under complex datasets. The experimental results demonstrate that the Imp-DeepLabV3+ model achieved a high pixel accuracy (PA) of 99.4%, a mean pixel accuracy (MPA) of 98.1%, and a mean intersection over union (MIoU) of 96.8%. Compared to the original DeepLabV3+ model, the segmentation performance of the improved model significantly improved. Moreover, the overall segmentation performance of the Imp-DeepLabV3+ model surpassed that of other commonly used semantic segmentation models, such as Fully Convolutional Networks (FCNs), Lite Reduced Atrous Spatial Pyramid Pooling (LR-ASPP), and U-Net. Therefore, this study can be applied to the field of scene segmentation and is conducive to further analyzing in idual information and promoting the development of intelligent animal farming.
Publisher: USCS Universidade Municipal de Sao Caetano do Sul
Date: 29-09-2020
DOI: 10.13037/GR.VOL36N109.6019
Abstract: A literatura aponta que a ulgação dos dados contábeis é essencial para a tomada de decisões de investimento. No entanto, cada in íduo processa de forma distinta a informação financeira para tomar decisões (HENDRIKSEN VAN BREDA, 1999). Argumenta-se que é racional investir em empresas sustentáveis e transparentes dado que elas tendem a apresentar melhor performance (BODHANWALA BODHANWALA, 2018). Considerando este panorama teórico, este estudo buscou investigar os possíveis efeitos que a sustentabilidade e a transparência podem ter sobre a tomada de decisão dos investidores que investem em ações. Para isto, foi desenvolvido um experimento por meio de uma pesquisa de opinião aplicada a estudantes universitários. O método de análise envolveu análise bivariada e regressão múltipla cross-section. Constatou-se que a sustentabilidade e a transparência não influenciaram a tomada de decisão de investimento. No entanto, percebeu-se uma relação entre o volume de recursos investido e a idade do investidor.
Publisher: Fundacao Pedro Leopoldo - Revista Gestao and Tecnologia
Date: 11-09-2020
DOI: 10.20397/2177-6652/2020.V20I3.1679
Abstract: Multinational companies positively impact the growth of emerging countries and to the detriment of this, studies of how these companies operate and generate value is also growing positively in the academic field. Questions widely studied as performance and ownership concentration are now being evaluated in an international context performance. This is at the expense of high concentration is a common feature of developing countries such as Brazil, and due to export strategy occur due to the quest for increased performance and wealth maximization. In view of this, this study sought to determine the influence that the ownership concentration ally export has on a performance factor developed for this work. The results showed that the export relates U-shaped with the variable performance and interaction export-concentration showed a positive relationship with the variable of interest. As future work, it is suggested to add other internationalization variables to consider more ways to foreign entry.
Publisher: Instituto Metodista de Ensino Superior
Date: 29-12-2020
DOI: 10.15603/1982-8756/ROC.V16N32P125-154
Abstract: A literatura aponta que as empresas com boas práticas de sustentabilidade apresentam melhores características financeiras e de mercado. A sustentabilidade tem sido lamente adotada nas empresas ao redor do mundo para satisfazer o desejo dos acionistas por uma maior transparência (SIEW, 2015). Uma forma de se medir a transparência das firmas é por meio do gerenciamento de resultados (MARTINEZ, 2008). Segundo Bona-Sánchez, Pérez-Alemán e Santana-Martin (2017) existe uma relação positiva entre sustentabilidade e ulgação de informação contábil, o que faz com que empresas sustentáveis tendam a gerenciar menos os seus resultados (KIM PARK WIER, 2012). Considerando este contexto, o objetivo deste trabalho é estudar a relação entre a sustentabilidade empresarial e o gerenciamento de resultados. Para isto, foram desenvolvidos testes e regressões para empresas brasileiras de capital aberto no período de 2010 a 2017, utilizando diferentes formas de mensurar o gerenciamento de resultados. Os resultados da pesquisa indicam que não há uma relação entre sustentabilidade empresarial e gerenciamento de resultados. Porém foi encontrada uma relação significante entre gerenciamento de resultados e tamanho da firma.
Publisher: Sistema de Bibliotecas PUCP
Date: 2019
Location: United States of America
No related grants have been discovered for Dannie Delanoy Carr Quirós.