The experiment was carried out with the objective of evaluating the gross margin, the productive and reproductive performance of beef heifers kept exclusively on ryegrass pasture (Lolium multiflorum Lam.) or ryegrass receiving 0.5 and 1.0% of body weight (BW) of whole rice bran as supplement, provided daily at at 2:00 p.m. The grazing method was the rotational and the interval between grazings was set by the thermal sum required for the appearing of 1.5 ryegrass leaf (187.5º C). The experimental design was completely randomized with repeated measures, three feeding systems and two and two area replications. Heifers in different feeding systems were kept in similar forage mass and canopy height when they came out of plots in all paddocks. The heifers average daily gain did not differ between the feeding systems. The stocking rate and weight gain per area were higher when heifers received 1.0% BW of whole rice bran. The provision of 0.5% BW of WRB allowed stocking rate and capacity gain for intermediate area between the other feeding systems. The higher gross margin was observed when heifers received 0.5% BW. The variable cost obtained for the different feeding systems showed increasing behavior depending on the WRB levels, surpassing the exclusive use of ryegrass in 37.2% and 60.6%. The final body weight, body condition score and reproductive tract score did not differ between the feeding systems. Considering an adult animal with an average body weight of 450 kg, the heifers at the beginning of the experiment showed 34% of mature body weight and final average body weight of 56% of adult weight. / O experimento foi conduzido com o objetivo de avaliar a margem bruta, o desempenho produtivo e reprodutivo de bezerras de corte mantidas exclusivamente em pastagem de azevém (Lolium multiflorum Lam.) ou em azevém recebendo 0,5 e 1,0% do peso corporal (PC) de farelo de arroz integral (FAI) como suplemento, fornecido diariamente às 14 horas. O método de pastejo foi o rotativo e o intervalo entre pastejos foi estabelecido considerando a soma térmica necessária para a emissão de 1,5 folha de azevém (187,5º C). O delineamento experimental foi o inteiramente casualizado, com medidas repetidas no tempo, três sistemas alimentares e duas repetições de área. As bezerras, nos diferentes sistemas alimentares, foram mantidas em similar massa de foragem e altura de dossel quando saíram das parcelas em todos os piquetes. O ganho médio diário das bezerras não diferiu entre os sistemas alimentares. A taxa de lotação e o ganho de peso por área foram maiores quando as bezerras receberam 1,0% do PC de farelo de arroz integral. O fornecimento de 0,5% do PC de FAI permitiu taxa de lotação e ganho por área intermediários entre os demais sistemas alimentares. A maior margem bruta foi observada quando as bezerras receberam 0,5% de FAI. O custo variável obtido para os diferentes sistemas alimentares apresentou comportamento crescente em função dos níveis de FAI, superando o uso exclusivo do azevém em 37,2% e 60,6%. O peso corporal final, o escore de condição corporal e o escore do trato reprodutivo não diferiram entre os sistemas alimentares. Considerando um animal adulto com peso corporal médio de 450 kg, as bezerras ao início do experimento apresentaram 34% do peso corporal adulto e peso corporal final médio de 56% do peso adulto.

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / The impact of agriculture on water resources has been a focus for problems associated with reservoir siltation, depletion of water quality, reduced infiltration and soil water storage, formation of floods and low water availability during drought periods. In this sense the estimation of gross erosion and sediment yield monitoring reflect the dynamic that occurs in catchments and the processes observed in the rivers. Studies of erosion in grain crop agricultural areas using no-tillage systems are scarce at catchment scale. Thus, this study estimated gross erosion and sediment yield in a large catchment representative of grain crop cultivation and its potential impacts on land degradation and consequent impacts on water resources. The catchment is located on the Riograndense plateau characterized by deep and weathered soils and landscape is gently sloping. Gross erosion estimation was performed with the RUSLE model along with a Geographic Information System where the attributes of soil, climate, landscape, and land use and management were spatialized for the entire drainage area of the catchment (800 km2). The catchment is drained by the Conceição River, which includes towns such as Cruz Alta and Ijuí, among others. The hydrossedimentometric monitoring was carried out for twenty months with automatic instruments, daily sample collection and sampling during rainfall-runoff events. The variables monitored were rainfall, flow, turbidity and suspended sediment concentration. From this data set sediment yield was estimated for the period and a sediment discharge rating curve was established to extrapolate sediment yield for the last decade. The average results of gross erosion for the catchment are in the order of 8 t ha-1 year-1 and average sediment yield was 140 mg km-2 year-1, generating sediment delivery ratio values of 17.5 %. From the temporal and spatial variability of the results, this study seeks to highlight the erosion processes operating at this scale and the implications for management and water and soil conservation programs for similar regions. / O impacto da agricultura nos recursos hídricos tem sido enfoque para problemas associados ao assoreamento de reservatórios, depauperamento da qualidade da água, reduzida infiltração e armazenamento de água no solo, formação de enxurradas e baixa disponibilidade hídrica em períodos de estiagem. Neste sentido a estimativa da erosão bruta e o monitoramento da produção de sedimentos refletem a dinâmica que ocorre nas bacias vertentes e os processos observados nos rios. Estudos de processos erosivos em áreas agrícolas sob produção de grãos em sistema plantio direto são incipientes na escala de bacia hidrográfica. Este estudo estimou a erosão bruta e a produção de sedimentos em uma grande bacia agrícola que representa o processo de produção de grãos e o seu potencial reflexo sobre a degradação dos solos e o impacto nos recursos hídricos. A bacia se localiza no planalto Riograndense caracterizada por solos profundos e intemperizados e relevo suave ondulado. A estimativa da erosão bruta foi realizada com o modelo RUSLE acoplado a um Sistema de Informação Geográfica, onde os atributos de solo, clima, relevo, uso e manejo foram espacializados para toda a área de drenagem da bacia (800 km2). A bacia em questão é drenada pelo rio Conceição que engloba os municípios de Cruz Alta e Boa Vista do Cadeado, dentre outros. O monitoramento hidrossedimentométrico foi realizado durante vinte meses com instrumentos automáticos, coletas de amostras diárias e amostras durante eventos de chuva-vazão. As variáveis monitoradas foram precipitação, vazão, turbidez e concentração de sedimentos em suspensão. A partir desse conjunto de dados foi estimada a produção de sedimentos no período, bem como estabelecida uma curva-chave de sedimentos utilizada para a extrapolação da PS para a última década. Os resultados médios da erosão bruta da bacia estão na ordem de 8 t ha-1 ano-1 e a produção de sedimentos média foi de 140 t km-2 ano-1, gerando valores de razão de entrega de sedimentos de 17,5%. A partir da variabilidade temporal e espacial dos resultados, o trabalho procura salientar os processos erosivos operantes nessa escala e as implicações para os programas de manejo e conservação de água e solo para regiões semelhantes.

The aim of this thesis is to find out the relationship between the development of the economic situation in Czech regions and potential accessibility of road networks evaluated with mathematical analysis. The intent of the model is to define a relationship between the transport accessibility and economic state in municipalities in 2001, 2011 and to predict for 2021. This evaluation has been reached with the model of potential accessibility. Several methodological problems had to be solved. Model calibration was provided with respect to the reality and changes in economic state in particular geographical regions. After the first step, which was focused on finding out the optimal model for potential accessibility of road networks, the linear regression with prediction of gross added economic value in analysed regions was used. Results showed only minor growth of gross added economic value in core geographical regions in the Czech Republic. In contrary, in peripheral regions dynamic growth of gross economic added value can be expected. This thesis follows the present interest in developing a transportation geography mathematical model, which can help us to understand the road transportation accessibility and its impact on economical development. Key words Potential accessibility, linear regression,...

This thesis examines the performance of portfolios sorted by gross-profit-to-asset (GPA) as a quality investing on the Swedish stock exchange. It constructs long-only portfolios and long-short portfolios sorted by GPA, book-to-market (B/P) and earnings-per-price (E/P). Thus, the thesis includes quality and value investing. The thesis compares separately the constructed long-only and long-short portfolios among each other. The long-only strategies are additionally compared to the market index. The study further examines a combined portfolio, sorting for GPA and B/P in order to test Novy-Marx’s findings. He reports, that the average return improves, while the standard deviation remains at the same level for a combined portfolio sorting for GPA and B/P. This requires a negative correlation. The comparison is based on different portfolio measurements as i.e. s.d. The asset pricing models CAPM and 5-Factor Model are applied. In addition, actual returns, excessive return over the risk-free rate and over the market index as a benchmark are assessed for the portfolio. The analysis is conducted for the time period 1994-2013 and separately for downturns, considering 2000-2003, 2007-2009 and 2010. The results show a great applicability of the gross-profitability ratio on the Swedish market. This quality strategy convinces not only during normal times with the portfolios GPA-h (long-only) and GPA-hl (long-short) but also in stressed times. GPA-h reports positive (abnormal) returns GPA-h during downturns. The long-only and long-short portfolios based on GPA outperform the market in both time periods. GPA-sorted portfolios perform in general better and the two value strategies during normal times and downturns, based on the annual average return. Examining the two value strategies EP-sorted portfolios are superior over BP-sorted portfolios. EP-portfolios achieve better performance during downturns, regarding Jensen’s alpha. It can be derived, that EP is countercyclical. The combined portfolio generates high return and has a high standard deviation. The assessed statement of Novy-Marx cannot be confirmed for the Swedish stock market. It has to be stated that we detected positive correlation instead of negative correlation. It can be derived, that GPA ratio is applicable on the Swedish market, considering the assumptions and limitations of this study. EP-based portfolios show a good performance during downturns. BP- based portfolios do not perform well on the sweidish market in the assessed time frame. The combined portfolio GPABP-hh does increase returns with constant standard deviation, referred to BP-h. Our findings show, that both value strategies do not outperform the market index. The EP-based value portfolios outperform BP-based portfolios. EP-h performs better during downturns considering Jensen’s alpha.

Title: The level of motor skills, physical fitness and body composition in preschool children Objectives: 1) To find out the current level of selected motor skills, physical fitness and body composition in preschool children. 2) To find out the interrelationship between selected parameters from the area of motor skills, physical fitness and body composition in preschool children. Methods: The main research method was observation - measurement. The research sample included 35 preschool children (4 - 6 years, M 5.8 ± 0.7 y). Motor skills were measured using the MABC-2 test battery and physical fitness using the Unifittest 6-60 test battery. Furthermore, the body composition was evaluated by BMI index and the skinfold thickness. Obtained data were processed in Microsoft Excel 2007, subjected to descriptive statistical procedures and further analyzed by correlations and Cohen's d. Results: The MABC-2 "aiming and catching" subtest level of preschool children exceeded the population average (10.23 ± 2.2). On the contrary, in subtest "balance" children remained below the population average with a result of 9.5 ± 2.6. Overall, the results indicate average level of fundamental motor skills of our experimentee. We didn't find any statistically signifiant relationships between motor skills, physical fitness...

Aim: The aim of this study is to assess benefits of therapy by Vojta method and by using the active videogame Nintendo Wii. The manual dexterity and gross motor function were evaluated. Methodology: The study was attended by 14 children aged 6 - 18 years. They were divided into two equal groups. The Vojta method was applied for the first group and exercising with Nintendo Wii for the second group. Each therapy took 30 days. After a 6 months break the two groups were changed. During those 6 months no targeted physiotherapy was done. The manual dexterity and gross motor functions were measured before and after the therapy and 8 weeks after finishing the therapy. The Box and Block test and the Nine Hole Peg test were used for assessment of manual dexterity and GMFM was used for testing of gross motor function. The children completed the PACES questionnaire after each of the interventions. Results: Statistics showed a significant change in the manual dexterity over the time when the Box and Block test was used. A difference between the two types of therapy has not been proven. Results of the Nine Hole Peg test were not statistically significant, neither in time nor when comparing the therapies. GMFM was not statistically significant either. The PACES did not show any difference between the therapies....

The aim of this masters thesis is to propound a complex treatise about the Gross Domestic Product of the Czech Republic between the years 2010 and 2015, with focus on growth dynamics, effect of GDP components according to the expenditure approach and the income approach, international comparison and relation to other economic measures. The thesis aspires to present and interpret the analysed data and put them into socio-economic context. Data for the analysis were retrieved from the National Accounts System, the methodology then emanates from the macroeconomic theory and statistical tools. While years after the financial crisis were characterized by a mild growth, years 2012 and 2013 were a recessional period after which came a sharp growth. Determinants of this development were mainly the situation on the world markets, expansionary monetary policy and anticipations of future development. From the items constituting GDP in the expenditure approach the gross capital formation had the main influence, in the income approach it was the net operating surplus. The economic development of the Czech Republic was relatively closely correlated with the development of the European Union during the analysed period. A significant negative correlation between the value of GDP and unemployment rate also existed, as well as a less significant negative correlation between the value of GDP and inflation rate, however the latter relation was not consistent.

There exists significant literature investigating the link between macroeconomic variables and stock market returns. Most previous studies utilise an overall stock market index to measure stock market returns, thereby aggregating a number of different industries into a single index. This research investigated the link between macroeconomic variables and a single sector’s share returns, being the Resources sector. The aim was to ascertain whether or not a correlation exists between the Resource Index of the Johannesburg Stock Exchange and four macroeconomic variables, namely: GDP, Inflation, Interest rates and the Rand/US Dollar Exchange Rate. Quarterly data for all 4 macroeconomic variables and the Resource Index was collected for the period 2002 to 2011 and tests of correlation performed between each macroeconomic variable and the Resource Index. The findings reveal that there is a positive correlation between GDP and resources share returns, a negative correlation between interest rates and resources share returns and a positive relationship between the Rand/US Dollar Exchange rate and resources share returns. The relationship between the inflation and the resource share returns proved inconclusive.Copyright / Dissertation (MBA)--University of Pretoria, 2012. / Gordon Institute of Business Science (GIBS) / unrestricted

This study is about whether the money supply in South Africa under a monetary policy regime of inflation‐targeting is exogenously or endogenously determined. The proposition of an exogenous money supply has been offered by monetarists, where the Central Bank determines the quantity of money supplied to the economy and this has a causal influence on income and credit extension. The endogenous money theory is a post‐Keynesian proposition whereby the money creation is determined by banks adjusting their responses to demands for credit‐money from economic agents. The data analysis is from 2000Q1 to 2010Q4 and entails the use of the variables monetary base (MB), domestic credit extension (DCE), M3, and gross national product (GDP). All variables are logged. The empirical tests conducted start with the Augmented Dickey‐Fuller unit root test to determine the variables order of integration. Johansen cointegration tests are done followed by Vector Error‐Correction Models (VECMs) and Granger causality tests to determine whether there is unidirectional or bidirectional causality between variables over the long and short‐run. Based on the results of the testing it was discovered that over the inflation‐targeting regime money supply in South Africa was endogenously determined. Furthermore, the data best supports the Accommodationist analysis of endogenous money as opposed to that of Structuralism and Liquidity Preference / Adobe Acrobat 9.53 Paper Capture Plug-in

La presente investigación busca establecer que a pesar de que el sector agrícola, es uno de los que menos aporta al PBI nacional e inclusive el país cuenta con una diversificación biológica que este no ha podido explotar; este tiene muchos productos que se encuentran en un crecimiento sostenido en los últimos años, este es el caso de la uva, la cual cuenta con ventajas competitivas, es más este en la actualidad es considerado como uno de los productos con mayores exportaciones en el rubro de no tradicionales en el Perú, según el Ministerio de Agricultura y Riego(MINAG). No obstante, se analizará los posibles componentes que permitió que este producto se encuentre en ascenso, lo que puede dar pautas metodológicas para futuras investigaciones que se ocupan sobre otros productos agrícolas, que se puedan desempeñar de la misma manera; estos daría como resultado el crecimiento del sector agrícola. El objetivo general es el analizar por qué el sector agrícola representa un porcentaje tan bajo del PBI Nacional en comparación de otros sectores, a pesar de que hay productos como la uva que se encuentran en ascenso, se analiza este producto en el periodo del 2007 al 2012. Sé empieza analizando las exportaciones de uva a EEUU y China , a fin de evaluar las condiciones para exportar a mediano y largo plazo, que conlleva a un crecimiento sostenido de las exportaciones de uva; tomando en consideración la variable inversión nacional que fomentan una mayor tecnología e innovación. / Trabajo de investigación