Esta tese é motivada pelas recentes alterações das normas contábeis brasileiras, as quais passaram a requerer o reconhecimento, no resultado, da volatilidade causada pela mensuração ao valor justo de instrumentos derivativos. A prática contábil hedge accounting (HA) possibilita eliminar tal volatilidade. Investidores cobram prêmio de risco por resultados mais difíceis de serem previstos (Allayannis & Simko, 2010; Rountree, Weston, & Allayannis, 2008; Graham, Harvey, & Rajgopal, 2005; Thomas & Zhang, 2002; Allayannis & Weston, 2001; Michelson, Jordan, & Wootton, 1995), o que leva à hipótese H1: O custo de capital próprio (CCP) das companhias brasileiras é negativamente associado com instrumentos financeiros designados para fins de HA. O impacto da adoção do HA na volatilidade foi analisado com base em testes de comparação de médias. A associação entre CCP e HA foi analisada com base na abordagem de dados em painel. A amostra foi definida pelas empresas que compõem o índice Ibovespa e o período pelo intervalo de 31/12/2008 a 31/12/2012 (17 trimestres). Os resultados revelam fortes evidências de que a adoção do HA resultou em diminuição da volatilidade. Verificou-se redução da média da volatilidade de todas as proxies de retorno analisadas: ROE trimestral, ROE anual, ROA trimestral e ROA anual (respectivamente, redução de 63,8%, 40,4%, 20,9% e 11,9%). Também, os achados revelam forte associação negativa entre o CCP e instrumentos financeiros designados para fins de HA. Análises adicionais corroboram a robustez dos achados. Programas de remuneração baseada em opções de ações (PRBOA) aumentariam os incentivos para a administração tomar risco, pois maior risco aumentaria o valor das opções (Smith & Stulz, 1985; Tufano, 1996; Supanvanij & Strauss, 2006). Tal conjectura conduz à hipótese H2: A probabilidade de adoção (PA) de HA é negativamente associada com PRBOA. A PA de HA foi estimada com base em modelo de regressão logística, compreendendo as 100 maiores companhias brasileiras abertas por patrimônio líquido. Verificou-se que a PA do HA é positivamente associada com PRBOA, o que contraria a hipótese de pesquisa, suportada pela teoria das finanças (Supanvanij & Strauss, 2006). Reportar resultados voláteis reduz o valor de mercado das ações devido à aversão a incertezas por parte de investidores e analistas (Allayannis & Weston, 2001; Thomas & Zhang, 2002; Graham et al., 2005; Hodder, 2006 et al.; Rountree et al., 2008; Allayannis & Simko, 2010). Portanto, ao adotar HA, a administração maximizaria sua remuneração, pois o preço da ação subjacente aumentaria com a diminuição da volatilidade dos resultados contábeis, o que justificaria tais achados. Os resultados também revelam que a PA do HA é positivamente associada com captações no exterior, retorno sobre ativos, faturamento em moeda estrangeira, tamanho, investimentos no exterior, nível de endividamento e quando a companhia é emissora de American Depository Receipts (ADR) ou instituição financeira. Meta de resultado projetada por analistas é um importante indicador de performance da administração (Graham et al., 2005; Choi, Walker, & Young, 2006). HA é uma prática contábil voluntária. Logo, a discricionariedade em relação à decisão sobre adotar ou revogar o HA leva à hipótese de pesquisa H3: Os efeitos contábeis decorrentes da designação e revogação do HA contribuem para maior aderência entre metas de resultado e o resultado contábil do trimestre em que ocorreu a designação inicial ou revogação da relação de HA. As técnicas estatísticas utilizadas foram análise descritiva e testes de comparação de médias. A amostra é definida pelas empresas que compõem o índice Ibovespa (período de 31/12/2008 a 31/12/2012). Para coleta manual dos dados foram revisadas 1.017 demonstrações financeiras. Não foram encontradas evidências de que a adoção inicial ou revogação do HA tenha contribuído para atingir oportunisticamente a meta de resultado projetada por analistas ou o resultado do mesmo período do ano anterior. Também não foram encontrados indícios de que empresas tenham mudado oportunisticamente o resultado contábil de prejuízo para lucro em virtude da adoção ou revogação do HA. / This thesis is inspired by recent changes in the Brazilian accounting standards, which now require the volatility caused by the fair value measurement of derivatives to be recorded in profit or loss. Hedge accounting (HA) can be used to eliminate such volatility. Investors charge a risk premium for earnings that are more difficult to forecast (Allayannis & Simko, 2010; Rountree, Weston, & Allayannis, 2008; Hodder, 2006; Graham, Harvey, & Rajgopal, 2005; Thomas & Zhang, 2002; Allayannis & Weston, 2001; Michelson, Jordan, & Wootton, 1995), which leads to hypothesis H1: Cost of equity (CE) of Brazilian companies is negatively associated with financial instruments designated for HA purposes. The impact of HA adoption on earnings volatility was investigated on the basis of means comparison tests. The association between CE and HA was analysed on the basis of panel data approach. The sample is defined by the entities which compose the Ibovespa index and the period analysed by the interval from 31/12/2008 to 31/12/2012 (17 quarters). The findings reveal strong evidences that the HA adoption resulted in reduction of earnings volatility. A reduction was observed in the average earnings volatility for all proxies of return analysed: quarterly ROE, annual ROE, quarterly ROA and annual ROA (decreases of 63.8%, 40.4%, 20.9% and 11.9%, respectively). The findings also reveal a strong negative association between CE and financial instruments designated for HA purposes. Additional analysis corroborate the robustness of such findings. Programs of option-based compensation (POBC) would increase management\'s appetite for risk, given that more risk would increase options\' market price (Smith & Stulz, 1985; Tufano, 1996; Supanvanij & Strauss, 2006). Such conjecture leads to hypothesis H2: The probability of adoption (PA) of HA is negatively associated with POBC. The PA of HA was estimated based on logistic regression model, comprising the 100 biggest Brazilian companies in terms of equity. It was found that PA of HA is positively associated with POBC, contradicting the research hypothesis supported by the finance theory (Supanvanij & Strauss, 2006). Reporting volatile earnings reduces the options\' market value due to the aversion of investors and analysts to uncertainties (Allayannis & Weston, 2001; Thomas & Zhang, 2002; Graham et al., 2005; Hodder et al, 2006; Rountree et al., 2008; Allayannis & Simko, 2010). Therefore, when adopting HA management would maximize its compensation, because the market value of the underlying stock would increase as a result of the decrease in earnings volatility, thereby justifying such findings. The results also reveal that PA of HA is positively associated with outstanding foreign debt, return on assets, revenue denominated in foreign currency, size, investments in foreign currency, indebtedness ratio and when the entity is American Depository Receipts (ADR) issuer or financial institution. Analysts\' earnings forecasts are one of management\'s most important performance indicators (Graham et al., 2005; Choi, Walker, & Young, 2006). Therefore, management\'s discretion on the decision of adopting or discontinuing HA leads to the research hypothesis H3: The accounting effects caused by the initial designation and de-designation of HA increase the consistency between analysts\' earnings forecasts and quarterly profit or loss in which the designation or de-designation of HA occurred. The analysis is based on descriptive statistics and means comparison tests. The sample is defined by the entities which composed the Ibovespa index (in the period from 31/12/2008 to 31/12/2012). Data was manually collected from 1.017 financial statements. The findings reveal no evidence that the initial designation and de-designation of HA have contributed to opportunistically meeting or beating analysts\' earnings forecasts or the profit or loss of the same period in the previous year. The findings also show no evidence that entities had opportunistically changed loss to profit due to designation or de-designation of HA.

Os produtos para alisamento das fibras capilares são amplamente utilizados no Brasil principalmente, pelo público feminino. Porém, estes procedimentos podem causar danos ao cabelo do usuário e, também, para o profissional que está atuando. Os alisantes químicos podem ser divididos em dois grupos: alcalinos e ácidos. Os primeiros (tioglicolato de amônio e os hidróxidos de sódio ou guanidina) apresentam valor de pH elevado (superior a 9,0) e alisam por meio da quebra e reorganização das pontes de dissulfeto (S-S) presentes na queratina, proteína estrutural da fibra capilar. Os alisantes ácidos como o formaldeído, ácido glioxílico e seus associados, possuem pH baixo (≥ 2,0) e causam uma reorganização no interior da fibra e geralmente leva a formação de um filme na superfície do fio. O ácido glioxílico associado à carbocisteína e aminoácidos (nomenclatura INCI -International Nomenclature of Cosmetic Ingredient apresentada entre parênteses) (Glyoxyloyl Carbocysteine (and) Glyoxyloyl Keratin Aminoacids (and) Water) é o único ingrediente permitido ao uso como alisante ácido até o momento. O objetivo deste trabalho foi estudar o efeito deste alisante ácido incorporado em uma emulsão óleo e água (O/A) com valores de pH 1,0 e 2,0 (com reaplicações); e o impacto que podem causar nas propriedades mecânicas e químicas da fibra capilar, como força de ruptura, coloração, elasticidade e teor de triptofano da fibra capilar. E também o efeito da radiação ultravioleta nos fios alisados. Nos testes realizados observou-se que as mechas tratadas com a emulsão a pH 1,0 obtiveram melhor resultado de alinhamento das cutículas e capacidade alisante da fibra, com penteabilidade superior ao cabelo virgem (59,4 %), enquanto as mechas com a formulação pH 2,0 foi apenas 33,0%. Entretanto, a força de tração para a ruptura do fio foi inferior, diminuindo em 16,0% (pH 1,0) e 9,0 % (pH 2,0). Quanto a variação da coloração, a variação do tom de cor foi mais exacerbada para as mechas tratadas com a formulação em pH 1,0. O teor de triptofano foi inferior nas mechas alisadas com a formulação pH 1,0. Para o teste de DSC e Raman, ambas as mechas tratadas apresentaram modificações nas suas estruturas. As fibras alisadas e expostas à radiação UV apresentaram danos maiores nas cutículas, e certa proteção na degradação de proteínas em relação aquelas sem tratamento e irradiadas ao UV. Considerando as reaplicações do produto alisante ácido, quanto maior o número de aplicações, mais alinhadas e seladas tornaram se as fibras, mas mais rígida e suscetível à quebra ficaram. Devemos considerar a importância do valor do pH da formulação no impacto do alisamento e dano da fibra capilar. / Hair straightening products are widely used in Brazil by the female public. However, these procedures can cause damage to the hair shaft and to professional´s and client´s health. Chemical straighteners can be divided into two groups: alkaline and acid. Alkaline straighteners has a very high pH value (> 9.0) and the straightening process is due to the break followed by reorganization of the disulfide bridges (S-S) present in the keratin, a structural protein of the hair shaft. Some examples of alkaline straighteners are ammonium thioglycolate and sodium or guanidine hydroxides. On the other hand, acid straighteners like formaldehyde, glyoxylic acid, and their associated, present a low pH value (≥ 2.0), which causes a rearranging within the fiber, and sometimes creates a film on the surface of the hair. Nowadays, the glyoxylic acid associated with carbocysteine and amino acids (INCI - International Nomenclature of Cosmetic Ingredient nomenclature presented in parentheses) (Glyoxyloyl Carbocysteine (and) Glyoxyloyl Keratin Aminoacids (and) Water) is the only acid straightener permitted. Therefore, the objective of this work is to study the effect of this acid straightener, incorporated into oil in water (o/w) base emulsions at two different pH values 1.0 and 2.0 ( with reapplication) on the mechanical and physicochemical properties of the hair shaft. Also, the impact of UV radiation in straightened tresses. In the experiments conducted, it was possible to observe that tresses treated with the emulsion at pH 1.0 had a better result on the alignment and the straightening capacity, improving the combing test (59.4%/), while the tresses with the formulation at pH 2.0, 33.0%. However, the tensile strength, to pH 1.0 decreased by 16.0% and to pH 2.0 only 9.0%. As for color, the difference when compared with virgin hair it was major at pH 1.0. The tryptophan content also was lower in tresses treated at pH 1, 0. For the DSC and Raman analyzes all the treated tresses presented modifications in their structure. Straightened strands exposed to radiation had major damage in the cuticles, and some protection in proteins degradation compared to untreated tresses exposed to radiation. Considering the reapplications of the straightening product, as higher the number of applications more aligned and sealed it becomes, however the hair fiber becomes stiffer and susceptible to breakage. Thats why we should consider the importance of the pH value in the product, and the impact of straightening and damage of the hai fiber.

The paper studies structural credit risk models with incomplete information of the asset value. It is shown that the pricing of typical corporate securities such as equity, corporate bonds or CDSs leads to a nonlinear filtering problem. This problem cannot be tackled with standard techniques as the default time does not have an intensity under full information. We therefore transform the problem to a standard filtering problem for a stopped diffusion process. This problem is analyzed via SPDE results from the filtering literature. In particular we are able to characterize the default intensity under incomplete information in terms of the conditional density of the asset value process. Moreover, we give an explicit description of the dynamics of corporate security prices. Finally, we explain how the model can be applied to the pricing of bond and equity options and we present results from a number of numerical experiments.

by Choi Ming Yee, Fung Lai Shun, So Wai Ching. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1996. / Includes bibliographical references (leaves 87-91). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / LIST OF FIGURES --- p.v / LIST OF TABLES --- p.vi / LIST OF ABBREVIATIONS --- p.vii / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- PERSPECTIVES OF INTEREST RATE --- p.3 / Interest Rate and Capital Market --- p.3 / Trade-off between Current and Future Consumption --- p.3 / An Economy without Exchange --- p.4 / An Economy with Capital Market --- p.5 / Determinants of Interest Rate --- p.7 / Credit Considerations --- p.8 / Term Structure --- p.9 / Loanable Funds --- p.11 / Interest Rate Risk --- p.11 / Interest Rate Volatility --- p.15 / Chapter III. --- DEVELOPMENT OF INTEREST RATE DERIVATIVES --- p.20 / The Emergence of Derivatives Markets --- p.20 / Interest Rate Derivatives Market --- p.23 / Interest Rate Futures --- p.24 / Interest Options --- p.25 / Interest Rate Swaps --- p.27 / Forward Rote Agreements (FRAs) --- p.29 / Chapter IV. --- MACROECONOMIC DEVELOPMENT IN ASIA PACIFIC REGION --- p.31 / Chapter V. --- MOTIVATION FOR FINANCIAL LIBERALIZATION --- p.33 / Limitations in Old Systems --- p.33 / Interest Rate Ceilings --- p.33 / Exchange Controls --- p.34 / Portfolio Selection and Credit Rationing --- p.35 / Taxes and Reserve Requirement --- p.37 / Advantage of Liberalization --- p.38 / Chapter VI. --- ECONOMIC VOLATILITY --- p.41 / Capital Mobility and International Integration --- p.41 / Monetary Policy --- p.45 / Chapter VII. --- THE DEMAND AND SUPPLY OF INTEREST RATE DERIVATIVES --- p.48 / Can Hedging Add Value to the Company? --- p.49 / Can Hedging Alter the Discount Rate of a Company? --- p.49 / Chapter VIII. --- THE ASIAN MARKET --- p.58 / New Derivatives Exchanges --- p.61 / Chapter IX. --- FORCES DRIVING DERIVATIVES GROWTH --- p.63 / Sustained Shifts in Volatility --- p.64 / The Demand for New Ways to Transfer Interest Rate Risk --- p.66 / The Demand for Liquidity --- p.69 / Chapter X. --- THE FUTURE --- p.81 / APPENDIX --- p.86 / BIBLIOGRAPHY --- p.87

The credit derivatives market has known an incredible development since its advent in the 1990's. Today there is a plethora of credit derivatives going from the simplest ones, credit default swaps (CDS), to more complex ones such as synthetic single-tranche collateralized debt obligations. Valuing this rich panel of products involves modeling credit risk. For this purpose, two main approaches have been explored and proposed since 1976. The first approach is the Structural approach, first proposed by Merton in 1976, following the work of Black-Scholes for pricing stock options. This approach relies in the capital structure of a firm to model its probability of default. The other approach is called the Reduced-form approach or the hazard rate approach. It is pioneered by Duffie, Lando, Jarrow among others. The main thesis in this approach is that default should be modeled as a jump process. The objective of this work is to value Asset-backed Credit default swaps using the hazard rate approach.

In this project,European Call and Put options,and also American Call and Put options have been priced by some finite difference methods using the C++ programming language.The report describes the following:The theory behind the pricing of options,some pricing methods,and how some finite difference pricing methods have been implemented in C++.

Comme toute personne susceptible de subir un préjudice, l'associé se trouve titulaire d'une action civile. Il dispose en effet de la possibilité de demander la réparation à l'auteur de la faute à l'origine de ce préjudice. Cette action civile dite individuelle peut être exercée, ou bien devant les juridictions civiles entendues au sens large, ou bien devant les juridictions répressives dans le cas où la faute ainsi commise serait infractionnelle. Mais en sa qualité de membre d'un groupement sociétaire, l'associé dispose également de la possibilité de demander la réparation du préjudice que subirait la société. Aussi, à côté de l'action civile à titre individuel, il peut exercer une autre action civile, cette fois-ci, à titre social, autrement appelée l'action civile ut singuli.Cette possibilité offerte à l'associé d'exercer deux actions se justifie par la diversité des préjudices dont il peut souffrir, particulièrement lorsqu'ils sont imputables au dirigeant de société. L'existence de ces deux actions permet ainsi, dans son principe, une meilleure réparation du préjudice subi par l'associé. Le mécanisme de l'action civile se veut donc avantageux pour l'associé.Toutefois, au-delà l'articulation parfois difficile entre les deux actions, l'action en réparation du préjudice social pouvant indirectement emporter la réparation du préjudice de l'associé, le constat selon lequel l'associé n'exerce que trop peu son action civile, principalement en raison de considérations matérielles et financières, a été dressé.Souhaitant rendre effectif coûte que coûte ce mécanisme considéré comme vertueux, le législateur et les juges, particulièrement attentifs aux besoins des victimes, donc de l'associé et de sa société, ont dès lors fait le choix de faciliter l'exercice de cette action, et ce aussi bien devant le juge civil que devant le juge pénal.Aujourd'hui, il est acquis que les diverses interventions législatives et jurisprudentielles ont eu pour conséquence de rendre l'action en réparation de l'associé, qu'elle soit exercée à titre individuel ou à titre social, davantage effective que par le passé. Reste que cette effectivité s'est faite au prix d'une part, d'un affaiblissement des conditions de forme de cette action, et d'autre part, d'un élargissement de ses conditions de fond. / As any individual suffering damages, a shareholder is vested with the right to file a legal claim designed to compensate the injury suffered. He is entitled to seek compensation from the wrongdoer in Court. Under French law, such a direct lawsuit can be filed either with a civil court or a criminal one where the alleged wrong arises out of a criminal offense. In addition, as a co-owner of the corporation, a shareholder is also entitled to file a derivative claim, namely to seek redress for damages incurred by the corporation itself on its behalf. Hence alongside a direct suit, a shareholder can file a derivative claim, that is, sue on behalf of the corporation, known as "action ut singuli under French law".Such a possibility granted to a shareholder, is vindicated by various possible wrongs he has suffered, especially where they originate in an executive breaching his duties. The coexistence of both direct and derivative claims is designed to provide the aggrieved shareholder with the best possible compensation for damages suffered. Such a legal mechanism, that is, the possibility of filing two distinct legal claims is primarily intended to benefit the shareholder.Nonetheless, in addition to possible difficulties in delineating the proper articulation between those two lawsuits - for a derivative claim may indirectly lead to indemnify the wrong individually suffered by the shareholder - it has been pointed out that shareholders rarely file direct claims, mainly due to financial considerations.To enhance the efficiency of such a desirable legal mechanism, both lawmakers and courts, mindful of the needs of the aggrieved parties, that is the legal entity and the shareholder considered individually, have sought to ease recourse to such a lawsuit whether filed with criminal or civil courts.As of today, it is beyond question that both statutory acts and case law resulted in providing shareholders with greater efficiency as to their ability of obtaining redress for damages incurred, whether the suit is direct or derivative.Yet, such a renewed efficiency has been attained at the cost lowering standards as to procedural prerequisites, on the one hand, and broadening the reach of such a legal claim by means of relaxing substantive requirements on the other.

L'action oblique, ou la faculté pour le créancier de préserver son droit de gage général en exerçant les droits et actions négligés par son débiteur, est de ces mécanismes simples que l'on n'interroge plus. Le simple toilettage du texte du Code civil opéré par l'ordonnance du 10 février 2016 conforte cette attitude. La stabilité de son analyse n'est cependant due qu'à d'insatisfaisants compromis. Irréductible à une qualification unique de mesure conservatoire ou de voie d'exécution, la protection du droit de gage général que poursuit le créancier est en réalité duale : le créancier de somme d'argent cherche tantôt à assurer l'efficacité ultérieure de son droit de saisie, tantôt à obtenir immédiatement paiement. Ces fonctions traditionnelles, pour lesquelles l'action oblique est inadaptée, coexistent aux côtés d'une fonction nouvelle : prémunir le créancier d'obligation en nature et le titulaire de droits assimilés de toute atteinte à leurs droits. Mécanisme d'exécution forcée par obligation tierce préexistante, elle peut alors être utilisée en lieu et place de la responsabilité délictuelle du débiteur défaillant à l'égard de certains tiers. Cette évolution de la fonction de l'action oblique était contenue en germe dans son mécanisme. Le renouveau des fonctions s'explique par un renouveau de l'analyse de sa nature. Autorisant l'exercice des droits d'autrui, l'action oblique ne repose pas sur la représentation mais sur un droit propre original de substitution. Sans qu'ils soient réellement modifiés, cette qualification confère une acception nouvelle au domaine et une justification inédite au régime de l'action oblique, et ce tant dans ses conditions que dans ses effets. / The derivative action or the right for a creditor to claim the rights and actions of their neglectful debtor to protect their ulterior payment seems so familiar one no longer pays attention to it. This lack of attention seems all the more justified in light of the reform of February 10th 2016, which rewrote the article of the Civil Code without any real modification. But in truth, this understanding of the derivative action rests on unfulfilling compromises. Its understanding is obvious only at first glance. The derivative action can neither be reduced to a conservatory or a binding measure only, as the holder of the derivative action seeks at times to guarantee an ulterior seizing of property, and at other times to recover a debt of money. But these traditional functions, for which the derivative action may not be entirely appropriate, coexist with a newer one : allowing performance for the creditor of a debt in kind and holders of similar rights. Here the derivative action could be an answer to a debtor's liability towards specific third parties. This evolution could already be foreseen in the very mechanism of the derivative action. Actually, the renewed functions of the mechanism can be explained by the renewed attention paid to the analysis of its nature. By allowing one to exert a third party’s rights, the derivative action relies not on representation but on an original right of substitution. This new analysis brings along a new definition of the extent to which one is allowed to exert a third party’s rights, as well as a new explanation about both the circumstances and effects of the derivative action.

Submitted by LUÍS LENIN VICENTE PEREIRA null (luislenin@gmail.com) on 2017-03-02T15:07:34Z No. of bitstreams: 1 Tese Luis Lenin Vicente Pereira.pdf: 2894913 bytes, checksum: 01d77fed0e0eb6b5cfb7979e52829667 (MD5) / Approved for entry into archive by LUIZA DE MENEZES ROMANETTO (luizamenezes@reitoria.unesp.br) on 2017-03-08T13:17:27Z (GMT) No. of bitstreams: 1 pereira_llv_dr_sjrp.pdf: 2894913 bytes, checksum: 01d77fed0e0eb6b5cfb7979e52829667 (MD5) / Made available in DSpace on 2017-03-08T13:17:27Z (GMT). No. of bitstreams: 1 pereira_llv_dr_sjrp.pdf: 2894913 bytes, checksum: 01d77fed0e0eb6b5cfb7979e52829667 (MD5) Previous issue date: 2017-02-17 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES) / A subordem Heteroptera possui sete infraordens com aproximadamente 80 famílias. A maioria ocorre em todos os continentes (exceto Antártica) e algumas ilhas. Além dos Heteroptera terrestres, há os aquáticos e semi-aquáticos que são amplamente distribuídos, e surpreendem por sua capacidade de habitar uma extraordinária variedade de ecossistemas, sendo encontrados em habitats de água doce e marinho, e variada faixa de altitude entre 0 e 4.700 m. Estudos sobre aspectos ultraestruturais da espermatogênese e, especificamente, a estrutura do espermatozoide em Heteroptera ainda são escassos, por este motivo o objetivo do presente estudo foi o de analisá-los, por meio de cortes semifinos corados com azul de toluidina ou impregnados por íons prata, e cortes ultra-finos analisados em microscopia eletrônica de transmissão, utilizando testículos de machos adultos das famílias Belostomatidae, Gelastocoridae, Gerridae, Mesoveliidae, Notonectidae e Veliidae. Após a análise ultraestrutural da espermatogênese foi possível determinar que o padrão flagelar do axonema é de 9+9+2 para todas as espécies analisadas sendo, portanto, o padrão para essa subordem, as mitocôndrias durante a espermatogênese assumem diferentes morfologias, sendo que inicialmente as mitocôndrias se unem formando o complexo mitocondrial e, posteriormente, se divide em dois derivados mitocondriais que estão posicionados bilateralmente em relação ao axonema. Os derivados mitocondriais apresentaram tamanhos diferentes para as espécies B. amnigenus (Notonectidae) e R. c. crassifemur (Gerridae) e para as demais espécies o tamanho foi semelhante. As células germinativas possuem em seu citoplasma o acúmulo de um material denominado corpo cromatóide estando localizado próximo ao núcleo. Com relação ao comportamento nucleolar da espécie Martarega brasiliensis foi observado de um a quatro corpúsculos nucleolares em células de Prófase I comprovando uma grande atividade sintética das células nessa fase da divisão celular. Células em Metáfase I apresentaram regiões organizadoras nucleolares na região telomérica de um dos autossomos. Ainda, nessa espécie, foi possível observar, em Anáfase I, vários corpúsculos nucleolares persistindo até a fase de Telófase I. Todas as ultraestruturas descritas nas espécies analisadas foram semelhantes às descritas na literatura para Heteroptera, corroborando as características sinapomórficas dessa subordem sendo elas: a) a presença de duas pontes que ligam o material intertubular do axonema flagelar às cisternas achatadas que aderem aos lados internos dos derivados mitocondriais; b) padrão flagelar do axonema de 9+9+2 e c) ausência de corpos acessórios. / The suborder Heteroptera has seven infraorders with approximately 80 families. Most occur in all continents, except Antarctica and some islands. In addition to terrestrial Heteroptera, there are also widely distributed aquatic and semi-aquatic species. This suborder have adapted to live in an extraordinary variety of ecosystems as freshwater and marine habitats and at altitudes ranging from 0 m to 4,700 m. The research concerning the ultrastructural aspects of spermatogenesis is a large and growing field of study, however, in the case of Heteroptera, research is still scarce. For this reason, the aim of this study was to analyze the ultrastructures and spermatogenesis through semi-thin sections stained with toluidine blue or silver ions (Ag-NOR) and ultrathin sections examined in transmission electron microscopy, using testes of adult males ofthe following families: Belostomatidae, Gelastocoridae, Gerridae, Mesoveliidae, Notonectidae and Veliidae. After ultrastructural analysis of spermatogenesis, it was possible to determine that the flagellar pattern of the axoneme is 9+9+2 for all species, being therefore, the pattern for this suborder. As spermatogenesis progresses, the mitochondria begins to cluster and concentrate on only one side of the cell. Then, the mitochondria combine to form a single mitochondrial complex, which subsequently divides into two mitochondrial derivatives. They are positioned on opposite sides of the axoneme. The mitochondrial derivatives presented different sizes for the species B. amnigenus (Notonectidae) and R. c. crassifemur (Gerridae) and for the other species the size was similar. The germ cells have in their cytoplasm the accumulation of a material denominated the chromatoid body, being located near the nucleus. Regarding the nucleolar behavior, M. brasiliensis showed nucleus in prophase I composed by the nucleolus and nucleolar corpuscles that varied from one to four, emphasizing that this insect has great synthetic activity during meiosis. The analysis of cells in metaphase I, showed that M. brasiliensis presents nucleolar organizing region (NOR) in at least one autosome. Furthermore, was not observed the phenomenon of nucleolar persistence. All the ultrastructures described in the analyzed species were similar to those described in the literature for Heteroptera, corroborating the synapomorphic characteristics of this suborder, being them: a) two opposite bridges in the axoneme connect the flattened cisterns adherent to the internal side of each mitochondrial derivative to the intertubular material; b) flagellar pattern of the axoneme of 9+9+2; c) accessory bodies are absent all along the flagellum.

The aim of this diploma thesis is to create derivative-focused web pages as a new part of a high school mathematics educational web portal. The web portal is operated by the Department of Mathematics Education, Faculty of Mathematics and Physics, Charles University in Prague. It is primarily intended as an additional learning resource for high school students. The diploma thesis consists of two main parts. The first part describes a search for and evaluation of similar web pages in Czech, Slovak, English and Hebrew, which deal with the topic of derivative. The second part details the creation of new web pages. In creating the web pages the author integrated interactive elements based on JavaScript, and interactive applets created with use of GeoGebra software. To display mathematical expressions on the web, the author used the technology MathJax, which works with languages of the typesetting systems TeX and LaTeX.