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Produtividade do cafeeiro em resposta ao manejo da calagem e gessagem em Latossolo de Cerrado / Productivity of coffee tree in response to conducting of liming and gessagem in Latossolo in Brazilian SavanahCamilo, Nilza de Fátima Pereira 03 April 2007 (has links)
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Previous issue date: 2007-04-03 / Fundação de Amparo a Pesquisa do Estado de Minas Gerais / The coffee culture in Minas Gerais is established, most of it, in Brazilian savannah soils, mainly latossols, applying limestone in overall area or in strip. The aims of this work were to compare the productivity of the coffee tree in response to different conducts, to determine doses of limestone with maximum economic efficiency (MEE) and the rates of recovering of Ca2+ and Mg2+ in the soil analyses, for different depths. The factors under study were: use limestone or limestone or gesso, divided in two application strategies in overall area or strip, that through replacement of limestone or limestone or gesso resulted in eight conducts: four in overall area (liming without replacement (CATSR); liming and gessagem without replacement (CGATSR); liming and gessagem with replacement of doses proportional to those planting (CGATRPP) and liming and gessagem with replacement corresponding to the need of liming (CGATRNC) and four in strip (liming with replacement of doses proportional to those of planting (CFRPP) liming and gessagem com replacement of doses proportional to planting (CGFRPP); liming with replacement corresponding to the necessity of liming (CFRNC) and liming e gessagem with replacement corresponding to the necessity of liming (CGFRNC) and six doses of limestone ( in overall area they were from 0,0 to 2,4 NC and , in strip from 0,0 to 1,5 NC). Mixed experimental matrix was used to define the treatments, Baconiana with Factorial [(21 + 2)] + 21], in which (21 + 2) correspond to treatments that received application in overall area and the other 21 in strip. The treatments were distributed in randomized blocks with three repetitions. Each useful plot consisted in two rows, with four plants per row. The CFRNC conduct was the best option aiming to obtain the best yield through liming with the lowest investment. Despite the results showed, in general, higher raising of pH, higher reduction on Al3+ levels and highest raising on Ca2+ and Mg2+ levels in the soil under different conducts regarding to the witness, on average, there was no significant difference in the coffee productivity among the conducts. The recovering rates of Ca2+ regarded to those of Mg2+ were similar at the beginning, as much in overall area as in strip, later those from Ca2+ were higher. The recovering rates of Ca2+ and Mg2+ decreased with depth. In the MEE doses the pH values were low to low; the levels of Al3+ ranged from medium to high and the levels of Ca2+ and Mg2+ were very low to low. In the leaves, the levels of Ca and Mg remained consistently, under the strip of adequacy. / A cafeicultura de Minas Gerais está implantada, em sua maior parte, em solos de Cerrado, predominantemente em Latossolos, com aplicação de calcário em área total ou em faixas. Os objetivos deste trabalho foram comparar a produtividade do cafeeiro em resposta os diferentes manejos, determinar doses de calcário de máxima eficiência econômica (MEE) e as taxas de recuperação de Ca2+ e de Mg2+ nas análises de solo, para diferentes profundidades. Os fatores em estudo foram: uso de calcário ou calcário e gesso, divididos em duas estratégias de aplicação em área total ou faixa, que pela reposição de calcário ou calcário e gesso resultaram em oito manejos: quatro em área total (calagem sem reposição (CATSR); calagem e gessagem sem reposição (CGATSR); calagem e gessagem com reposição de doses proporcionais às de plantio (CGATRPP) e calagem e gessagem com reposição correspondente à necessidade de calagem (CGATRNC)) e quatro em faixa (calagem com reposição de doses proporcionais às de plantio (CFRPP); calagem e gessagem com reposição de doses proporcionais às de plantio (CGFRPP); calagem com reposição correspondente à necessidade de calagem (CFRNC) e calagem e gessagem com reposição correspondente à necessidade de calagem (CGFRNC)) e seis doses de calcário (em área total foram de 0,0 a 2,4 NC e, em faixa de 0,0 a 1,5 NC). Na definição dos tratamentos, utilizou-se a matriz experimental mista, Baconiana com Fatorial [(21 + 2) + 21)], em que (21 + 2) correspondem a tratamentos que receberam aplicação em área total e os outros 21 em faixa. Os tratamentos foram distribuídos em blocos casualizados com três repetições. Cada parcela útil constou de duas fileiras, com quatro plantas por fileira. O manejo CFRNC foi a melhor opção visando obter maior rendimento pela calagem com menor investimento. Apesar dos resultados indicarem, de forma geral, maior elevação do pH, maior redução dos teores de Al3+ e maior elevação dos teores de Ca2+ e de Mg2+ no solo nos diferentes manejos em relação à testemunha, em média, não houve diferença significativa na produtividade de café entre os manejos. As taxas de recuperação de Ca2+ em relação às de Mg2+ inicialmente foram semelhantes, tanto em área total como em faixa, posteriormente as de Ca2+ foram maiores. As taxas de recuperação de Ca2+ e de Mg2+ decresceram em profundidade. Nas doses de MEE os valores de pH foram muito baixos a baixos; os teores de Al3+ variaram de médio a alto e os teores de Ca2+ e de Mg2+ ficaram muito baixos a baixos. Nas folhas os teores de Ca e de Mg ficaram, consistentemente, abaixo da faixa de suficiência.
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Le fard comme médium, objet d'étude et d'expérimentation plastique. / Makeup as a medium, object of study and plastic experimentationLecomte, Sophie 11 May 2011 (has links)
Le fard est une composition dont l’application sur la peau donne à celle-ci plus d’éclat ou masque un défaut physique. Accusé de tromper, instrument futile ou diabolique auquel fut comparée la peinture, le fard se définit par sa fonction mais ne s’y réduit pas. L’observation de trois vidéos permet d’étudier le fard en tant qu’il est matière colorée et conduit à déterminer ses propriétés spécifiques et les possibilités plastiques qu’elles véhiculent.Cette recherche vise à établir les modalités d’une relation entre le fard, la couleur, et le corps support au travers d’expériences plastiques filmées pour le caractériser ensuite comme médium à partir d’une pratique personnelle. / Makeup is a composition which when applied to the skin gives it more brightness or hides a physical defect. Accused of cheating, a futile or diabolical instrument, which paint has been compared, make-up is defined by its function but has lost nothing through this.The plastic arts experience allows study of make-up because it is colored and this helps determine its specific properties and plastic possibilities.This research aims to establish the details of a relationship between makeup, color and the body, using several videos to characterize it as a medium based on personal practice.
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Energiåtervinning från kommunalt avfall i Burundi, AfrikaJangholt, Rebecka, Ingabire, Lionel January 2022 (has links)
Det pågår en ökande trend i världen där fler flyttar in i tätorter. Det påverkar tätorterna i många dimensioner och en av dessa är den kommunala avfallshanteringen. När fler flyttar in mot städerna så blir det en påtryckning på befintlig hantering och är den dessutom bristfällig blir situation snabbt försämrad. Avfallshanteringen är ett känsligt område då det kan påverka människors hälsa och välmående. I utvecklingsländer är det allt för vanligt att lägga sitt avfall på öppna deponier eller låta avfallet ligga kvar längs gatorna. Detta avger farliga bakterier som ger smittsamma sjukdomar samt att tungmetaller tar sig ner i grundvattnet. FN förutspår att ungefär hälften av Afrikas befolkning kommer bo i tätorter till 2030. Denna studie handlar om avfallshanteringen i Burundi. Burundi är ett av Afrikas mest tätbefolkade länder och majoriteten lever i extrem fattigdom. Studien undersöker möjligheten för den största staden, Bujumbura, att energi återvinna sitt kommunala avfall i ett kraftvärmeverk. Det skulle vara en lösning på avfallsproblematiken samt generera el till staden. Bujumbura har idag (2022) en nästintill obefintlig avfallshantering och detta skulle vara en gynnsam lösning. I Bujumbura slängs approximativt 450 tusen ton avfall vilket har ett energiinnehåll på 5,3 PJ. Studien visar att potential för ett kraftvärmeverk med effekt på cirka 150 MW som kan omvandlas till 0,4 TWh el. Syftet med studien är att undersöka om Bujumbura kan förbättra sin avfallshantering och om det skulle vara möjligt för staden att förbränna sitt avfall i ett kraftvärmeverk. För att få underlag till vår studie har vi gjort en litteraturstudie, haft möten med berörda chefer i Bujumbura samt studiebesök på deponi och ställverk i Bujumbura. Resultatet visar att det finns möjligheter för Bujumbura att etablera ett kraftvärmeverk. För att detta ska kunna ske måste kommunen göra en omfattande satsning på hantering av avfall. / There is an ongoing trend in the world where more people are moving to urban areas. It affects in several dimensions and one of which is the municipal solid waste management. When more people move to the cities, there is a pressure on existing management and if also deficient, the situation quickly deteriorates. Waste management is a sensitive subject because it can affect people’s health and their wellbeing. In developing countries, it is common to put waste in open-air landfills. This releases dangerous bacteria that causes infectious diseases and heavy metals get into the groundwater. UN predicts that about half of Africa´s population will live in urban areas by 2030. The aim of this study is to minimize the environmental impact of municipal solid waste by establishing a combined heat and power plant in Bujumbura, Burundi, to generate electricity and heat from municipal solid waste for the city of Bujumbura as a solution to waste management challenges. Annually 450-thousand-ton waste with energy value of 5,3 PJ lays on open-air landfills. The study shows the potential for a power plant with a capacity of 150 MW. The CHP plant could generate approximately 0,4 TWh of electricity annually. This will reduce the development of unsorted waste that is otherwise dumped in open landfills. The electricity produced will be sold to the power grid to generate revenue. Furthermore, it will improve the management of solid waste and other departments who work for the development of sustainable environmental management for Bujumbura. For our study we have done a literature study, had meetings with relevant managers in Bujumbura and study visits to landfills and switchgears in Bujumbura. The results show that there are opportunities for Bujumbura to establish a combined heat and power plant. For this to happen, the municipality must make a comprehensive investment in waste management.
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I'm Not Gonna Be Like That Guy: Exploring the Montana Meth Project Through the Eyes of That GuyFerestad, Jaysen Nicole 25 November 2013 (has links)
Graphic images of meth addicts have swept across Montana in television, radio and print ads as part of the state's latest anti-drug campaign, the Montana Meth Project. From a labeling perspective, the negative portrayal of meth addicts in these ads has significant implications for meth addicts in terms of their reintegration. The unintended population of drug addicts potentially affected by public service campaigns has failed to gain attention in the literature despite the implications suggested by labeling theory. This poses a significant gap in our knowledge and understanding, which this study addresses through the voice of recovering meth addicts. This study explored the significance of the campaign with regard to the worldview of recovering meth addicts and the implications of this worldview with regard to their reintegration. In particular, the study examined 1) addict perceptions of the campaign's impact on community 2) addict perceptions of the campaign's personal impact 3) addict perceptions of the significance of social bonds 4) the implications of these perspectives from the theoretical standpoint of Labeling and Social Bond theory.
In-depth interviews were conducted among a sample of twenty recovering meth addicts at a treatment facility in Grenadier, Montana as well as one active meth user. This form of data collection was chosen due to the exploratory nature of the study as well the significance of perception suggested by the Symbolic-Interaction perspective (Cooley 1902). The study revealed that the Montana Meth Project does have a significant impact on the worldview of the participants. When the participants believe the campaign has a positive impact on the community - creating awareness, understanding and acceptance - the campaign is viewed as a tool in their reintegration. However, as the bulk of the findings suggest, when the participants believe the campaign has a negative impact - stereotypes, labeling, stigmatization and differential treatment - the campaign is viewed as a barrier to their reintegration. With such a negative reaction in the worldview of the participants, the mainstream world including family, friends and the community did not appear to be at the forefront of their reintegration. Rather, a subculture of recovering addicts acts as the source of positive social bonds and the most significant in the reintegration of the participants. The findings of this study demonstrate the impact anti- drug campaigns, and particularly scare campaigns using a public service approach, can have on the unintended audience of drug addicts.
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The Chopis' journey: Restoring identity through Theology and MissionMacamo, Marcos Efraim 02 1900 (has links)
This work discusses the dilemma of the Chopi people, who despite having a rich cultural heritage, were marginalized by other people, owing to menial labour they have done, such as the removal of faeces and grave digging for the city of Maputo. There is a contrast between the Chopis who were historically an exceptional people in rural Mozambique and the rejected and excluded people they have become in the city.
This study attempts, to revert this situation, through a participative process of research, action and change, and highlights some aspects related to their cultural and religious identity. Contributing factors to their predicament are political, economic, social and religious in nature. My work entails an intense endeavour towards renewing identity regarding their understanding of employment, through theology and mission in a contextual approach. Transformation and the renewal of the values of the Chopi people are crucial towards this end. / Missiology / M.Th. (Missiology-Specialisation in Urban Ministry)
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A cessão fiduciária do direito do acionista aos dividendos no direito privado brasileiro / The fiduciary assignment of shareholderss right to dividends under Brazilian private law.Contin, Rafael Arsie 31 March 2015 (has links)
A presente dissertação examina a cessão fiduciária do direito do acionista aos dividendos, bem como a titularidade fiduciária (garantia real) dela resultante. A razão para a análise desses institutos deve-se ao aumento no uso desta forma de garantia em operações financeiras complexas realizadas no mercado nacional. Primeiramente, é feita uma análise das diversas acepções (perfis) que o direito do acionista ao dividendo pode assumir no contexto do ordenamento jurídico nacional, para daí concluir que tal direito é passível de cessão tanto em sua condição de crédito, presente ou futuro (a depender, justamente, da existência ou não de lucros sociais já deliberados), quanto em sua condição de direito expectativo. Isto é, de direito que o acionista detém, a partir do momento em que se torna titular de ações, de vir a adquirir direitos de créditos de dividendos a serem distribuídos pela companhia de tempos em tempos. Em razão da necessidade da imediata constituição da garantia real, especialmente diante de uma eventual falência ou recuperação judicial do devedor, este trabalho conclui que a titularidade fiduciária deve recair sobre o direito expectativo aos dividendos, visto ser ele um direito já existente e que permite ao seu respectivo titular se tornar, direta e imediatamente, proprietário dos créditos de dividendos que vierem a ser futuramente distribuídos pela companhia, desde que estes estejam limitados a certos valores e/ou períodos previamente acordados entre o credor/financiador e o devedor/acionista. Ademais, apesar de ser um direito inerente à participação social, o destaque e a cessão autônoma do direito expectativo aos dividendos não conflita com o disposto no art. 28 da LSA. O presente estudo argumenta também que o credor fiduciário pode, nos termos do art. 113 da LSA, exercer certos direitos de voto na companhia, desde que (1) o objeto da garantia seja o direito expectativo aos dividendos e (2) a sua influência nas deliberações sociais restrinja-se a estabelecer a forma como o lucro social será apurado e distribuído pela sociedade. Por fim, é argumentado também que, por ser uma garantia que recai sobre direitos patrimoniais pagos em dinheiro, duas consequências imediatas revelam- se aplicáveis: (i) durante o período em que não existe qualquer inadimplemento ou vencimento regular da dívida garantida, os dividendos que vierem a ser pagos pela companhia deverão ser destinados ao acionista devedor, podendo o credor deles se beneficiar apenas quando existir o efetivo vencimento ou inadimplemento da dívida; e (ii) durante o período de inadimplemento ou na data de vencimento regular da dívida, o credor pode reter os recursos necessários à satisfação de seu crédito, desde que restitua o eventual excedente ao acionista devedor, não havendo, por isso, razão que justifique o enquadramento da excussão da garantia como sendo uma violação à proibição do pacto comissório, conforme prevista no Direito brasileiro. / This dissertation examines the fiduciary assignment of shareholders rights to dividends, as well as the fiduciary ownership (security interest) resulting from it. The reason for the analysis of these legal institutes comes from the increasing use of this type of security interest in complex financial transactions carried out in the local markets. Firstly, this works conducts the analysis of the various meanings (perspectives) which shareholders\' rights to dividends may have in different contexts of the Brazilian legal system, concluding that this right may be transferred either as a credit right, existing in the present or in the future (depending precisely on the existence of corporate profits already distributed or not), or as an expectance right. By this last one, we mean the right held by the shareholder as soon as he/she/it becomes the owner of the shares issued by a certain company that enables him/her/it to become the owner of the dividends distributed by the company from time to time. Due to the importance of the immediate granting of the security interest, especially in light of a possible bankruptcy or judicial reorganization process involving the debtor, this paper concludes that the fiduciary ownership should have the expectance right to dividends as its underlying asset. This is so because such right is already an existing right that allows the shareholder to become, directly and immediately, the owner of the dividends to be distributed by the company in the future, as long as those dividends are limited to certain amounts or periods previously agreed between the creditor/financier and the debtor/shareholder. Furthermore, despite being an inherent right to the equity stake, the detach of the expectance right to dividends from the shares which comes from, following by its assignment to other parties, does not conflict with the provision set forth in Section 28 of the Brazilian Corporation Act. This study also argues that the secured creditor may exercise certain voting rights in the company responsible for the payment of the dividends, pursuant to Section 113 of the Brazilian Corporation Act, provided that: (1) the underlying asset of the security interest is the expectance right to dividends; and (2) his/her/its influence in the companys decisions is limited to the manner according to which the corporate profits will be accounted and distributed by the company. Finally, it is also argued that, for being a security interest that has receivables as its underlying assets, two consequences turn out to be applicable. (i) Over the period in which there is no default or regular maturity of the secured debt, dividends paid by the company shall be allocated in favor of the shareholder/debtor. The creditor will be able to receive them in the maturity date or upon the occurrence of a default only. (ii) Over a default period or on the regular maturity date, the creditor may retain the necessary amount of dividends to satisfy his/her/its credit, provided that any excess cash shall be transferred to the shareholder/debtor, reason for which there are reasonable grounds to sustain that this foreclosure mechanism does not violate the non-retention of collateral assets convention rule (pacto comissório) provided under Brazilian law.
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Matheuristic algorithms for minimizing total tardiness in flow shop scheduling problems / Algorithmes métaheuristiques pour minimiser la somme des retards des problèmes d'ordonnancement de type flowshopTa, Quang-Chieu 12 February 2015 (has links)
Nous considérons dans cette thèse un problème d’ordonnancement de flow-shop de permutation où un ensemble de travaux doit être ordonnancé sur un ensemble de machines. Les travaux doivent être ordonnancés sur les machines dans le même ordre. L’objectif est de minimiser le retard total. Nous proposons des algorithmes heuristiques et des nouvelles matheuristiques pour ce problème. Les matheuristiques sont un nouveau type d’algorithmes approchés qui ont été proposés pour résoudre des problèmes d’optimisation combinatoire. Les méthodes importent de la résolution exacte au sein des approches (méta) heuristiques. Ce type de méthode de résolution a reçu un grand intérêt en raison de leurs très bonnes performances pour résoudre des problèmes difficiles. Nous présentons d’abord les concepts de base d’un problème d’ordonnancement. Nous donnons aussi une brève introduction à la théorie de l’ordonnancement et nous présentons un panel de méthodes de résolution. Enfin, nous considérons un problème où un flow shop de permutation à m-machine et un problème de tournées de véhicules sont intégrés, avec pour objectif la minimisation de la somme des retards. Nous proposons un codage direct d’une solution et une méthode de voisinage. Les résultats montrent que l’algorithme Tabou améliore grandement la solution initiale donnée par EDD et où chaque voyage ne délivre qu’un travail. / We consider in this thesis a permutation flow shop scheduling problem where a set of jobs have to be scheduled on a set of machines. The jobs have to be processed on the machines in the same order. The objective is to minimize the total tardiness. We propose heuristic algorithms and many new matheuristic algorithms for this problem. The matheuristic methods are a new type of approximated algorithms that have been proposed for solving combinatorial optimization problems. These methods embed exact resolution into (meta)heuristic approaches. This type of resolution method has received a great interest because of their very good performances for solving some difficult problems. We present the basic concepts and components of a scheduling problem and the aspects related to these components. We also give a brief introduction to the theory of scheduling and present an overview of resolution methods. Finally, we consider a problem where m-machine permutation flow shop scheduling problem and a vehicle routing problem are integrated and the objective is to minimize the total tardiness. We introduce a direct coding for a complete solution and a Tabu search for finding a sequence and trips. The results show that the TS greatly improves the initial solution given by EDD heuristic where each trip serves only one job at a time.
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The Chopis' journey: Restoring identity through Theology and MissionMacamo, Marcos Efraim 02 1900 (has links)
This work discusses the dilemma of the Chopi people, who despite having a rich cultural heritage, were marginalized by other people, owing to menial labour they have done, such as the removal of faeces and grave digging for the city of Maputo. There is a contrast between the Chopis who were historically an exceptional people in rural Mozambique and the rejected and excluded people they have become in the city.
This study attempts, to revert this situation, through a participative process of research, action and change, and highlights some aspects related to their cultural and religious identity. Contributing factors to their predicament are political, economic, social and religious in nature. My work entails an intense endeavour towards renewing identity regarding their understanding of employment, through theology and mission in a contextual approach. Transformation and the renewal of the values of the Chopi people are crucial towards this end. / Christian Spirituality, Church History and Missiology / M.Th. (Missiology-Specialisation in Urban Ministry)
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Contributions aux processeurs multi-coeurs massivement parallèles en technologie en rupture : routage tolérant aux fautes de réseau d'interconnexion et auto-adaptabilité des applications / Algorithms for the efficiency of unreliable multicore processors and their On-Chip interconnectChaix, Fabien 28 October 2013 (has links)
La perspective de technologies nanométriques permet d'envisager l'avènement de processeurs constitués de centaines de coeurs de calcul. Néanmoins, l'utilisation de ces processeurs nécessitera de pallier aux problèmes de fiabilité et de variabilité inhérents à ces procédés de fabrication agressifs. Dans cette thèse, nous présentons un ensemble cohérent de techniques pour l'utilisation de processeurs multi-coeurs massivement parallèles, soumis à de forts taux de variabilité et de défaillance. Tout d' abord, la fiabilité du réseau d'interconnexion est abordée, avec la présentation de plusieurs algorithmes de routage tolérants aux fautes, sans interblocages et sans table de routage pour une meilleure scalabilité. Les différentes variantes de ces algorithmes permettent d'ajuster la complexité du réseau sur puce, en fonction des besoins en fiabilité des applications. A titre d'exemple, le plus performant des algorithmes de routage peut acheminer les paquets tant qu'il existe un chemin sans défaillance, et ce jusqu'à 40% de ressources défectueuses. Plusieurs évolutions ont également été étudiées afin d'améliorer les performances du réseau en présence d'un nombre important de fautes. Ensuite, nous proposons une technique auto-adaptative de gestion des applications parallèles, basée sur un routage tolérant aux fautes. L'affectation dynamique des tâches se base sur la recherche adaptative des noeuds de calcul, afin de diminuer la consommation énergétique de l'application en présence de variabilité. Enfin, nous présentons un modèle de simulation de haut-niveau appelé VOCIS (Versatile On-Chip Interconnect Simulator), développé pendant cette thèse. Il permet l'étude approfondie des réseaux d'interconnexion et des routages tolérants aux fautes dans des conditions complexes, afin de répondre aux contraintes propres à ce travail. Nous décrivons son architecture et ses capacités de visualisation. Finalement, nous analysons et illustrons plusieurs résultats expérimentaux originaux obtenus avec ce modèle. / The perspective of nanometric technologies foreshadows the advent of processors consisting of hundreds of computation cores. However, the exploitation of these processors will require to cope with reliability and variability issues inherent to these aggressive manufacturing processes. In this thesis, we present a coherent set of techniques for the utilization of many-cores processors subject to high defect and variability rates. First, the interconnection network reliability is addressed, with the presentation of several deadlock-free fault-tolerant routing algorithms, without routing tables for improving their scalability. The different variants of these algorithms allow for the tune-up of NoC complexity, depending on applications' reliability requirements. For example, the most performant routing algorithm is able to transmit packets as long as a fault-free path exists, with defect rates as high as 40%. Evolutions have also been studied, in order to improve the interconnect performances in the presence of a large number of faults. Second, we propose a self-adaptive technique for the management of parallel applications, based on a fault-tolerant interconnect. The dynamic tasks mapping is based on the adaptive search of computing nodes, in order to reduce the application's energy consumption in the presnece of variability. Third, we present a high-level simulation model named VOCIS (Versatile On-Chip Interconnect Simulator), developed during this thesis. The model allows in-depth study of interconnection networks and fault-tolerant routings under complex settings, in order to meet the specific constraints of this work. The architecture and visualization features are described. Finally, we analyse and illustrate original experimental results obtained with this model.
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A cessão fiduciária do direito do acionista aos dividendos no direito privado brasileiro / The fiduciary assignment of shareholderss right to dividends under Brazilian private law.Rafael Arsie Contin 31 March 2015 (has links)
A presente dissertação examina a cessão fiduciária do direito do acionista aos dividendos, bem como a titularidade fiduciária (garantia real) dela resultante. A razão para a análise desses institutos deve-se ao aumento no uso desta forma de garantia em operações financeiras complexas realizadas no mercado nacional. Primeiramente, é feita uma análise das diversas acepções (perfis) que o direito do acionista ao dividendo pode assumir no contexto do ordenamento jurídico nacional, para daí concluir que tal direito é passível de cessão tanto em sua condição de crédito, presente ou futuro (a depender, justamente, da existência ou não de lucros sociais já deliberados), quanto em sua condição de direito expectativo. Isto é, de direito que o acionista detém, a partir do momento em que se torna titular de ações, de vir a adquirir direitos de créditos de dividendos a serem distribuídos pela companhia de tempos em tempos. Em razão da necessidade da imediata constituição da garantia real, especialmente diante de uma eventual falência ou recuperação judicial do devedor, este trabalho conclui que a titularidade fiduciária deve recair sobre o direito expectativo aos dividendos, visto ser ele um direito já existente e que permite ao seu respectivo titular se tornar, direta e imediatamente, proprietário dos créditos de dividendos que vierem a ser futuramente distribuídos pela companhia, desde que estes estejam limitados a certos valores e/ou períodos previamente acordados entre o credor/financiador e o devedor/acionista. Ademais, apesar de ser um direito inerente à participação social, o destaque e a cessão autônoma do direito expectativo aos dividendos não conflita com o disposto no art. 28 da LSA. O presente estudo argumenta também que o credor fiduciário pode, nos termos do art. 113 da LSA, exercer certos direitos de voto na companhia, desde que (1) o objeto da garantia seja o direito expectativo aos dividendos e (2) a sua influência nas deliberações sociais restrinja-se a estabelecer a forma como o lucro social será apurado e distribuído pela sociedade. Por fim, é argumentado também que, por ser uma garantia que recai sobre direitos patrimoniais pagos em dinheiro, duas consequências imediatas revelam- se aplicáveis: (i) durante o período em que não existe qualquer inadimplemento ou vencimento regular da dívida garantida, os dividendos que vierem a ser pagos pela companhia deverão ser destinados ao acionista devedor, podendo o credor deles se beneficiar apenas quando existir o efetivo vencimento ou inadimplemento da dívida; e (ii) durante o período de inadimplemento ou na data de vencimento regular da dívida, o credor pode reter os recursos necessários à satisfação de seu crédito, desde que restitua o eventual excedente ao acionista devedor, não havendo, por isso, razão que justifique o enquadramento da excussão da garantia como sendo uma violação à proibição do pacto comissório, conforme prevista no Direito brasileiro. / This dissertation examines the fiduciary assignment of shareholders rights to dividends, as well as the fiduciary ownership (security interest) resulting from it. The reason for the analysis of these legal institutes comes from the increasing use of this type of security interest in complex financial transactions carried out in the local markets. Firstly, this works conducts the analysis of the various meanings (perspectives) which shareholders\' rights to dividends may have in different contexts of the Brazilian legal system, concluding that this right may be transferred either as a credit right, existing in the present or in the future (depending precisely on the existence of corporate profits already distributed or not), or as an expectance right. By this last one, we mean the right held by the shareholder as soon as he/she/it becomes the owner of the shares issued by a certain company that enables him/her/it to become the owner of the dividends distributed by the company from time to time. Due to the importance of the immediate granting of the security interest, especially in light of a possible bankruptcy or judicial reorganization process involving the debtor, this paper concludes that the fiduciary ownership should have the expectance right to dividends as its underlying asset. This is so because such right is already an existing right that allows the shareholder to become, directly and immediately, the owner of the dividends to be distributed by the company in the future, as long as those dividends are limited to certain amounts or periods previously agreed between the creditor/financier and the debtor/shareholder. Furthermore, despite being an inherent right to the equity stake, the detach of the expectance right to dividends from the shares which comes from, following by its assignment to other parties, does not conflict with the provision set forth in Section 28 of the Brazilian Corporation Act. This study also argues that the secured creditor may exercise certain voting rights in the company responsible for the payment of the dividends, pursuant to Section 113 of the Brazilian Corporation Act, provided that: (1) the underlying asset of the security interest is the expectance right to dividends; and (2) his/her/its influence in the companys decisions is limited to the manner according to which the corporate profits will be accounted and distributed by the company. Finally, it is also argued that, for being a security interest that has receivables as its underlying assets, two consequences turn out to be applicable. (i) Over the period in which there is no default or regular maturity of the secured debt, dividends paid by the company shall be allocated in favor of the shareholder/debtor. The creditor will be able to receive them in the maturity date or upon the occurrence of a default only. (ii) Over a default period or on the regular maturity date, the creditor may retain the necessary amount of dividends to satisfy his/her/its credit, provided that any excess cash shall be transferred to the shareholder/debtor, reason for which there are reasonable grounds to sustain that this foreclosure mechanism does not violate the non-retention of collateral assets convention rule (pacto comissório) provided under Brazilian law.
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