Valdir de Jesus Lameira

Ethics, Corruption, Governance and Emerging Markets

In this article we seek to substantiate the relation between ethics, corruption, governance and development in emerging markets, especially in Latin America. This is a theorical article where we develop a conceptual model with relations between ethics, corruption and the improve of governance of the countries. We first construct a relation between ethics and corruption and between corruption and governance of the country. For doing this last relation, we consider that the level of the corruption in a country is opposite of the level of governance. Then, we try to provide evidence of the relation between the levels of governance of twenty five emerging nations and their economic performance indicators. The data of the twenty five emerging countries around the world, that we use in the tables, were collected at the World Bank site. We observe the need to improve the ethic all around the countries in Latin America and in many of the emerging countries. We also observe the need to diminish the corruption in some of emerging countries. We conclude that institutions and governments must act speedily and effectively to improve the environment for business in various emerging markets, in order to provide more adequate conditions for world trade growth and satisfy the needs of consumers worldwide.

Use of Soybean Oil in Energy Generation

This chapter deals with the possibility of using soybean oil in energy generation. The environmental, energetic and social-economic aspects are discussed. The steps for obtaining biodiesel from soybean oil are presented as well as the characterization of soybean oil and soybean biodiesel. Results for performance and emissions of using soybean oil and soybean biodiesel in a stationary engine are also presented. Vegetable oils are obtained predominantly from grains of different plant species. The oil extraction can be made by physical process (pressing) or chemical (solvent). The solvent extraction produces better results, but the more traditional way is physical extraction, which uses mechanical and hydraulic presses to crush the grains. A mixed extraction (mechanical/solvent) can also be done. Selecting the type of extraction depends on two factors: the productive capacity and oil content. Soybean (Glycine max (L.) Merrill) is a very versatile grain that gives rise to products widely used by agro-chemical industry and food industry. Besides is a raw material for extraction of oil for biofuel production. Soybean has about 25% of oil content in grain. In the agribusiness world, soybean production is, among the economic activities in recent decades, the most prominent. This can be attributed to several factors, such as structuring of a large international market related to trade in products of soybean, oilseed consolidation as an important source of vegetable protein and increased development and delivery of technologies that made possible the expansion of soy exploration for various regions of the world. The largest producers of soybeans are: United States, Brazil, Argentina, China and India. One possible use of vegetable oil is in the power generation engines. The vegetable oil can be used directly in diesel engines, preferably mixed with diesel. It may also undergo a chemical reaction (transesterification), yielding biodiesel and glycerol. In literature, several works are related to the use of vegetable oil and biodiesel for power generation, as evidenced below.

The Relationship between Governance and Sustainable Development

This paper presents a methodological approach to evaluating the relationship between governance and several variables commonly related to the concept of sustainable development and, also, related to financial indicators from various countries. We explore the theoretical framework linking the level of governance of the countries with their economic performance. Our sample incorporates data from developed and emergent countries, collected by the World Bank and Transparency International, in order to assess the significance of governance impact among countries with distinct degrees of development. Multiple regression analysis and panel data modeling were used to explore statistical relations amongst variables. Results show a positive relation between levels of governance and economic development, besides illustrating other significant issues.

Uma revisão sobre a economia brasileira e o mercado financeiro após o Plano Real: as mudanças e a evolução do mercado de capitais entre 1995 e 2002

Everybody knows the importance of an efficient financial market with efficient risk management and resource allocation and also with a great confidence level for the economy of any country (Rocca, 2001) The Brazilian stabilization plan, called Piano Real, which started in the middle of 1994, made it possible to control inflation in the Brazilian economy by mechanisms that allowed for a greater opening to foreign trade and increased the integration between the Brazilian financial system and international financial markets. Hence, the Piano Real provoked intense changes in our financial system. This article aims to offer a view on the Brazilian economic environment and show the most important events in the Brazilian financial and capital market after the advent of the monetary stabilization program, during the period between 1995 and2002. W observe the evolution of the main macroeconomic variables, the new structure of the financial system, the entrance of new international agents, the evolution of the capital market business and the behavior of public finances. Finally, we will demonstrate the qualitative improvements that occurred during the period and the need for important adjustments in public account management as well as in the increase of internal savings and, consequently, the level of investments in the Brazilian economy.

The Impact of Best Practices of Sustainability on Quality of Management: An Investigation at Brazilian Capital Markets

The study of the relationship between best practices of sustainability and quality of management investigates one of the most relevant and topical issues involving researchers and professionals. For this investigation, a representative sample of 205 Brazilian companies was selected, covering the period from 2005 to 2009 to test for a possible relationship between participation in a sustainability index, an indicator of best practices of sustainability and indicators of the quality of management. After applying different econometric methods, it was possible to confirm the hypothesis that best practices of sustainability are associated with better performance, less risk and higher market value. Moreover, best practices of sustainability impact the value of companies directly and indirectly through the mediating variables of performance and risk. Finally, possible determinants of the quality of practices of sustainability are associated (1) with market values in a positive way and (2) with operating leverage, return on assets (ROA) and volatility in a negative way.