Editorial

ID: 33866

Authors: Marcelo Alvaro da Silva Macedo.

Source: Sociedade, Contabilidade e Gestão, v. 6, n. 3, p. 1-3, December, 2011. 3 page(s).

Document type: Editorial (Portuguese)

The efficiency of poultry price risk Cross-hedge with the usage of corn futures contracts of BM&F-BOVESPA

ID: 33868

Authors: Waldemar Antônio da Rocha de Souza, Débora Fernandes Bellinghini, João Gomes Martines-Filho, Pedro Valentim Marques.

Source: Sociedade, Contabilidade e Gestão, v. 6, n. 3, p. 7-21, December, 2011. 15 page(s).

Keyword: Corn , Future Contract , Mitigation , Poultry , Price Risk

Document type: Article (Portuguese) Show Abstract

The poultry industry bears price risk for which the analysis and mitigation are relevant stepsto the efficient management of production units, allowing a more efficient allocation ofresources. However a specific futures contract for the Brazilian poultry industry in the futuresmarket does not exist, although there is a futures contract for corn is BM&F-BOVESPA.Given the significant cross participation among the poultry and corn industries in Brazil, it isworth asking if the poultry price risk can be neutralized with the domestic corn futures,analyzing the efficiency of the use of corn futures contracts traded on BM&F-BOVESPA incross-hedge operations of the poultry price risk. The research question addressed is: cornfutures contracts traded on the BM & F BOVESPA, provide efficient mitigation of price riskfor the national poultry industry. The survey questions are: i. what are the statistical propertiesof poultry spot prices and corn futures time series of, ii. how to get different cross-hedginglevels of poultry prices and corn using alternative models of hedging: minimum-variance, nohedge, total hedge (naïve) and dynamic, and, iii. what are the cross-hedge effectivenessobtained through the use of the various models. The low effectiveness of these operations indifferent contexts and hedge portfolio: fine, full, dynamic is observed. The results can beattributed to different microeconomic structures, such as the low correlation between the priceseries due to the specificities in both industries, seasonality, marketing and pricing proceduresin both markets. However, the strong market signals economic and financial potential for theintroduction of a poultry future contract in Brazil.

Fatores que favorecem a compreensão da extensão da divulgação sobre partes relacionadas – estudo nas ompanhias listadas no novo mercado da BM&FBovespa

ID: 33869

Authors: Renata Luciana dos Reis Magalhães, Laura Edith Taboada Pinheiro, Wagner Moura Lamounier.

Source: Sociedade, Contabilidade e Gestão, v. 6, n. 3, p. 22-37, December, 2011. 16 page(s).

Keyword: Conflicts of Interest , Corporate Governance , Disclosure , Related Parties

Document type: Article (Portuguese) Show Abstract

The available disclosure by companies to the user public is a key factor in decision making.Based on the diffusion theory and the importance of asymmetry reducing among managersand investors, this study has researched the factors that would be able to influence the extentof related party disclosure in the explanatory notes of the companies listed on the New Marketof BM&FBovespa, a segment from which better corporate governance practices are promised.Assigning scores to the disclosures found in the Financial Statements closed on 12/31/2010, itwas sought to link them with potential explanatory factors such as firm size, patrimonialequity, activity sector, and existence time of the company. Statistical techniques were appliedto be possible to infer that the explanation for higher or lower disclosure levels arises in partfrom the existence time of the company in the business market. It was also evident thatcompanies from the cyclical consumer goods sector have a higher diffusion compared to thedisclosure level of companies from the construction and transportation sector. It was alsoconcluded that there is no statistical evidence of influence on the related parties disclosure offactors such as firm size and patrimonial equity. From the financial statements closed on12/31/2010 by the companies belonging to New Market of BM&FBovespa, there is aperception that none presented determinations on related parties disclosure as required byCPC 05, approved by CVM Resolution no. 642/2010.

Methodology of teaching: an analysis of the perception of students in relation to different forms of education

ID: 33871

Authors: Patrycia Scavello Barreto Pinto, Melisa Maia de Paula, Josir Simeone Gomes.

Source: Sociedade, Contabilidade e Gestão, v. 6, n. 3, p. 38-54, December, 2011. 17 page(s).

Keyword: Active and Passive Learning , Classroom Teaching , Distance Education

Document type: Article (Portuguese) Show Abstract

A major concern in the academic discussion is focused on the need for renewal of educationalprocesses. Guided discussion that sought to examine in a public university located in the Stateof Rio de Janeiro, in an undergraduate degree in Business Administration, which is thestudents' perception about the teaching method of a General Accounting discipline. The focusis the perception of students about the teaching method, or if they qualify as active or passivemethod. And, secondly, we tried to see if there are similarities or differences in theseperceptions for the students of the classroom and distance learning. This research can beconsidered as a case study and data collection method used was the questionnaire. From theanalysis of the results, it was found that the perception of the students about the teachingmethod has significant differences. It can be noticed that the students in classroom course feelless involved with the construction of their learning. Conversely, the distance learners weremore active in the pursuit of knowledge. It is appropriate to note that in some situations thisdisparity is explained by the different methodology used by each of the forms of education.

Distance education and its peculiarities: an analysis of the application in the public environment

ID: 33872

Authors: Gleice Carvalho de Lima, Marcos Gilson Gomes Feitosa.

Source: Sociedade, Contabilidade e Gestão, v. 6, n. 3, p. 55-66, December, 2011. 12 page(s).

Keyword: Distance Education , Improvement of personnel , Public servants

Document type: Article (Portuguese) Show Abstract

This research was intended to see, through the mediation of a theoretical paper, the use ofdistance education as an effective program for the improvement of personnel. Justifies theimportance of this study by knowing the characteristics of this type, applied to publicservants. The analysis was done descriptively, was confined to a theoretical essay, based on,to consolidate the information an experience carried out with a public agency, located inPernambuco State. The conclusion of this work resulted in two points to be explained: theprofile of civil servants and the characteristics of distance education for this group. Theprofile comes down to factors that were addressed in the construction of the subtitle "SocialContext of Public Employees," as being: Most have a family, presents minimum time forstudies, they are professionals with a certain maturity; part in its most of the middle class; hasa well-educated. Characteristics of the distance education mode is limited to: servers chosenarea of work, study mostly in the workplace, mature people with a settled family, use of parttimestudies, courses available to meet the needs allocations; guardians of the publicenvironment with a greater degree of knowledge in the area explored, using the Internet;participation in courses with different length of time, the body itself manages and promotesreduction of costs, evaluate the content and level of learning through weekly activities. Thus,the search result shows the importance of DL when well designed, and alert for flaws if thestructure is not outlined effectively, failing to meet the individual needs of each user. It issuggested to expand the research, analysis of EAD at the international level, showing thedevelopment of this system.

Analysis of disclosure related to environmental accidents of Petrobras after corporate law no. 11.638/07

ID: 33873

Authors: Fabiano Helmer Bremenkamp, José Elias Feres de Almeida, Maria Mariete Aragão Melo Pereira.

Source: Sociedade, Contabilidade e Gestão, v. 6, n. 3, p. 67-83, December, 2011. 17 page(s).

Keyword: 11 , 638/07 , Corporate Law n , Disclosure , Environmental Accidents , Petrobras

Document type: Article (Portuguese) Show Abstract

This work aims to verify, in Petrobras' environmental disclosure, if there were qualitative andquantitative improvements, related to environmental accidents, motivated by regulatoryincentives after the enactment of Corporate Law 11.638/07. We identified news andinformation related to environmental accidents of Petrobras in various media such asnewspapers, entities related to the Environment issues and on the Internet, in sequence, weanalyzed the possible disclosure of these facts in the financial statements for the periodbetween 2008-2010. In addition, to identify the environmental disclosure, were analyzed otherreports, such as the Management Report, Annual Information (IAN), Annual Report, Socialand Environmental Sustainability Report. Our results from the content analysis of financialstatements, suggests limited disclosure of accidents. Only one way of disclosure ofenvironmental accidents was found in the Sustainability Report and still lacked detailedinformation, such as the total area affected and the costs involved (or estimated). We alsoconclude that after the Corporate Law 11.638/07 no changes in the volume of environmentalinformation were disclosed. This study has limitation, we highlight that the media can detectpotential accidents related to the environment issues and the entity, but if there is remoteconsequences by the entity judgment, those accidents not become mandatory disclosure.

Managing pathways to change: a study on indoor cearenses clothes

ID: 33874

Authors: Anderson Queiroz Lemos, Maione Rocha, João Paulo da Silva Costa, Elias Pereira Lopes Júnior.

Source: Sociedade, Contabilidade e Gestão, v. 6, n. 3, p. 84-100, December, 2011. 17 page(s).

Keyword: Clothing , Competition , Indoor

Document type: Article (Portuguese) Show Abstract

With the increasing numbers of companies in Brazil, there is a trend that there are new typesof markets and firms are interested in obtaining participation in them. The outlook is for hisadministration to deal with, in time, with inter-organizational relationships and environmentsincreasingly competitive and complex. Indeed, the assumption is that the intermediate factorsare crucial to business development to bring about its competition for future opportunities. Inthis context, it was tried to achieve two goals: 1) identify the current level of managementadopted by companies making small, 2) analyze the prospect of generating competitiveadvantage these companies. Based on the topology formed by the explanatory dimensions ofthe internal environment and competitiveness, developed a study of data collected from 81manufacturing companies and the Metropolitan Region of Fortaleza. It was chosen adescriptive analysis of the current competitive position of these companies using descriptivestatistics. The results indicate that areas with more functional activities were practiced Salesand Marketing and Finance and Costs, while the Strategic areas and Innovation had low levelsof practices carried out. The research adds to the other to enlarge the understanding ofpredicting the future level of competition for domestic companies.