For as long as managed mutual funds have been in existence there has been a desire to accurately assess their relative performance against each other, and also their respective performance in relation to an appropriate stock market index. There has been a specific interest in whether the expensive, professionally managed mutual funds can justify their high cost with respect to low cost, simple index trackers by producing superior, post-cost performance, and this proposition is implicitly tested within this thesis. The aim of this thesis is to undertake an empirical assessment of the managerial performance of mutual funds utilising a three-stage DEA-SFA-DEA methodology which combines linear mathematical programming (DEA) and stochastic frontier analysis (SFA). Specifically, this thesis focuses on evaluating the managerial performance of UK domiciled open-ended investment companies (OEICs) and unit trusts (UTs) over a three year period from 1st January 2008 to 31st December 2010. Various DEA models are utilised including CCR, BCC and SBM DEA models with various orientations, and also versions of these DEA models which make use of the SORM procedure. These are used to carry out an initial evaluation of the managerial performance of the OEICs/UTs, before two of these DEA models are combined with SFA regression analysis in a three-stage DEA-SFA-DEA methodology to purge the influence of environmental factors and statistical noise, thus leading to a more robust evaluation of the true managerial performance of the OEICs/UTs under assessment. The results of this thesis extend support to the premise of the Efficient Market Hypothesis (EMH) that financial markets are information efficient , and thus it is not possible, given the information available when the investment is made, to consistently obtain returns in excess of the average market return on a risk-adjusted basis, and this thesis does so through the use of a novel approach.

Thèse numérisée par la Division de la gestion de documents et des archives de l'Université de Montréal.

This thesis examines the bank efficiency and the impact of the regulatory and supervisory instruments on the efficiency of banks actively performing on the financial markets in the countries of European Union. Our analysis concerns 8-year time period, covering also the period of global financial crisis with the aim to determine possible changes in the relationship regulation versus efficiency. We apply SFA Fourier-flexible model for estimation of profit and cost efficiency scores. Consequently we use GLS panel data estimation in order to test for the regulatory determinants of efficiency, we have specified 6 various models with the focus on different regulatory instruments. Results firstly suggest that high cost efficiency does not necessarily imply high bank profit efficiency. Secondly, we uncovered the negative relation between market concentration, the level of development of financial market and the cost efficiency of foreign banks. Thirdly, we also found evidence supporting the assumption of positive impact of private monitoring and the independence of supervisory authority implying the increasing of transparency in the market. Additionally, we uncovered support for negative effect of activity and diversification restrictions. However, the results concerning the financial crisis period are...

A inflamação sistêmica é uma das características que marcam o diagnóstico da caquexia associada ao câncer. Entre as interações tumor-hospedeiro, o tecido adiposo branco contribui à inflamação, uma vez que ele sofre uma reorganização morfológica e lipólise, liberando ácidos graxos livres (AGLs), mediadores lipídicos (LMs) e citocinas pró-inflamatórias, que acentuam a ativação de vias de sinalização pró-inflamatória e o recrutamento de células do sistema imunológico para o tecido. O objetivo deste projeto foi investigar quais fatores inflamatórios sistêmicos estão envolvidos na inflamação do tecido adiposo e qual é a influência desses fatores sobre as enzimas envolvidas no metabolismo dos AGs ou LMs em indivíduos saudáveis (Controle), pacientes com câncer gastrointestinal com peso estável (WSC) e pacientes com câncer e caquexia (CC). Os resultados demonstraram que a resposta inflamatória sistêmica é diferente da resposta encontrada no tecido adiposo. A inflamação sistêmica dos pacientes com câncer e caquexia (CC) foi caracterizada por níveis circulantes mais elevados de ácidos graxos saturados (SFAs), tumor-necrosis-factor-&#945 (TNF-&#945), Interleukin IL-6, IL-8 e proteina Creativa (PCR), enquanto os níveis de ácidos graxos poliinsaturados (PUFAs), especialmente n3-PUFAs, foram menores em CC que nos demais grupos. In vitro e em explantes de tecido adiposo, citocinas pró-inflamatórias e SFAs aumentaram a expressão das quimiocinas IL-8 e CXCL10. E também observamos um aumento na expressão destas quimiocinas na inflamação do tecido adiposo no CC, que era mais profundo no tecido adiposo visceral (VAT) quando comparado ao tecido adiposo subcutâneo (SAT). A inflamação sistêmica foi negativamente associada com a expressão de enzimas sintetizadoras dos PUFAs, embora a expressão gênica e protéica mostraram somente pequenas diferencias entre os grupos. Os efeitos dos fatores inflamatórios sobre as enzimas no tecido adiposo podem ter sido mascarados pela modulação diferenciada dos diversos tipos celulares constituintes desse tecido. Experimentos in vitro mostraram que a expressão de enzimas que modificam os AGs, tais como as dessaturases e elongases em adipócitos e macrófagos, foram reguladas em direções opostas por TNF-&#945, IL-6, LPS e palmitato. Mesmo os pacientes CC demonstrando uma maior concentração plasmática da Resolvina D1, que é um mediador lipídico de resolução da inflamação, ainda assim, a inflamação sistêmica é maior nesses pacientes, e os resultados indicam que as citoquinas inflamatórias interferem com as vias de síntese das LMs da resolução. Concluímos que, os dados revelaram um crosstalk inter-tecidual e intercelular complexo mediado por citocinas pró-inflamatórias e compostos lipídicos que aumentam a inflamação na caquexia associada ao câncer por mecanismos autoregulação. / Systemic inflammation is a hallmark of cancer cachexia. Among tumor-host interactions, the white adipose tissue (WAT) is an important contributor to inflammation as it suffers morphological reorganization and lipolysis, releasing free fatty acids (FA), bioactive lipid mediators (LM) and pro-inflammatory cytokines, which accentuate the activation of proinflammatory signaling pathways and the recruitment of immune cells to the tissue. This project aimed to investigate which inflammatory factors are involved in the local adipose tissue inflammation and what is the influence of such factors upon enzymes involved in FA or LM metabolism in healthy individuals (Control), weight stable gastro-intestinal cancer patients (WSC) and cachectic cancer patients (CC). The results demonstrated that the inflammatory signature of systemic inflammation is different from local adipose tissue inflammation. The systemic inflammation of the cachectic cancer patients was characterized by higher levels of circulating saturated fatty acids (SFA), tumor-necrosisfactor- &#945 (TNF- &#945), interleukins IL-6, IL-8 and CRP while levels of polyunsaturated fatty acids (PUFAs), especially n3-PUFAs, were lower in CC than in the other groups. In vitro and in adipose tissue explants, pro-inflammatory cytokines and SFAs were shown to increase the chemokines IL-8 and CXCL10 that were found to be augmented in adipose tissue inflammation in CC which was more profound in the visceral adipose tissue (VAT) than in subcutaneous adipose tissue (SAT). Systemic inflammation was negatively associated with the expression of PUFA synthesizing enzymes, though gene and protein expression did hardly differ between groups. The effects of inflammatory factors on enzymes in the whole tissue could have been masked by differentiated modulation of the diverse cell types in the same tissue. In vitro experiments showed that the expression of FA-modifying enzymes such as desaturases and elongases in adipocytes and macrophages was regulated into opposing directions by TNF- &#945, IL-6, LPS or palmitate. The higher plasma concentration of the pro-resolving LM resolvin D1 in CC cannot compensate the overall inflammatory status and the results indicate that inflammatory cytokines interfere with synthesis pathways of pro-resolving LM. In summary, the data revealed a complex inter-tissue and inter-cellular crosstalk mediated by pro-inflammatory cytokines and lipid compounds enhancing inflammation in cancer cachexia by feedforward mechanisms.

L'angle d?avalanche d'un tas de billes de verre dans un cylindre est modifié en présence de<br />forces de cohésion. Nous nous sommes intéressés dans un premier temps à l'étude de l'évolution lente,<br />ou «vieillissement», de l'angle d'avalanche avec l'âge du tas. Nous avons montré que l'augmentation logarithmique<br />du coefficient de friction effectif entre les billes dépend de l'humidité de l'atmosphère, ce<br />qui peut être expliqué quantitativement par une augmentation progressive de la force d'adhésion due à<br />la condensation de liquide entre les grains. Nous avons également mis en évidence d'autres paramètres<br />influençant le vieillissement : usure, position du tas au repos ; et observé des effets de vieillissement en<br />présence d'éthanol. Nous avons étudié en détail la métastabilité et les effets de nucléation de la condensation<br />capillaire. Nous avons calculé l'énergie d'activation pour condenser un pont liquide entre deux surfaces<br />parallèles parfaitement lisses. Cette énergie d'activation diverge quand la taille du confinement s'approche<br />de la distance critique de nucléation. Ainsi, l'énergie d?activation est très souvent très supérieure à l'énergie<br />d'agitation thermique. Nous avons ensuite montré qu'il est possible de faire un modèle de condensation<br />capillaire thermiquement activé entre les rugosités des billes qui rend compte de la dépendance temporelle<br />du vieillissement observé avec les billes de verre. Enfin, nous avons construit un appareil à forces de surface<br />qui permet d'étudier les interactions statiques et dynamiques entre les surfaces à l'échelle du rayon de Kelvin,<br />c'est à dire à l'échelle du nanomètre. Après avoir décrit le principe et les performances de cet appareil,<br />nous exposons des premiers résultats concernant la nanorhéologie de fluides simples en milieu confiné ainsi<br />que des mesures de la dépendance de la force d'adhésion entre des surfaces de verre par rapport à la force<br />normale et au temps de contact.

La nature utilise des liaisons faibles (liaisons hydrogène, liaisons par chélation, etc.) pour assurer la cohésion d'édifices macromoléculaires (structure tertiaire des protéines, double hélice de la molécule d'ADN, etc.) et permettre la formation de structures transitoires qui nécessitent d'être créées et détruites rapidement (complexes récepteur-ligand, complexes ion-acide aminé, etc.). Les énergies de ces liaisons sont relativement peu connues notamment en raison du nombre important d'interactions agissant en parallèle. Une méthode permettant de les évaluer consiste à réaliser une mesure d'adhésion entre deux surfaces portant les groupes fonctionnels appropriés isolés de leur environnement naturel. Nous avons utilisé un lipide dont la tête polaire est constituée du groupement NTA, qui est capable de former des liaisons hydrogène et qui, dans certaines conditions physico-chimiques, peut fixer un ion nickel et former ainsi une liaison par chélation. Diverses mesures de forces ont été réalisées à l'aide de la technique SFA entre des bicouches de lipide NTA ou NTA-Ni. Des expériences réalisées dans l'eau pure ont permis de mesurer l'énergie d'une liaison hydrogène: environ 1 kBT. Des mesures de forces réalisées dans le Tris et confirmées par des mesures d'adhésion entre vésicules fonctionnalisées ont conduit à une estimation de l'énergie d'une liaison par chélation: environ 2 kBT. Le lipide NTA-Ni a également été utilisé comme un outil permettant de fixer des récepteurs his-tagués des rétinoïdes sur les surfaces d'étude du SFA. Nous avons utilisé un lipide dont la tête polaire contenait un rétinoïde synthétique et réalisé une mesure de forces entre une monocouche de ce lipide rétinoïde et une monocouche de lipide NTA-Ni portant les récepteurs. Des mesures de forces ont également été effectuées entre deux monocouches de lipide rétinoïde; elles ont mis en évidence de très grandes énergies d'adhésion dues à l'effet combiné des forces hydrophobes et des liaisons hydrogène.

Thèse numérisée par la Division de la gestion de documents et des archives de l'Université de Montréal

The level of fish consumption in the Czech Republic is very low. One of the possible factors influencing this situation is low awareness of the customer or consumer. The thesis "The Lipid Quality of our economically significant fish species" works with the list of nineteen economically most significant fish species not only including fish from the semi-intensive and intensive breeding, but also such species that are interesting for the consumption from the sport fishing point of view. The samples taken from particular fish were primarily used for the analysis of the fat content and fatty acid composition. The analysis established very interesting results in this field and created basis for further analysis for establishing atherogenic and thrombogenic index or for formation of nutritive values mentioned as "Big 7" (fat content and the ratio of fatty acid out of it, sacharide content and the sugar ratio in it, protein content, ash content and energy value) by particular fish species according to the regulation ES 1169/2011. The results of this work confirmed that the fat content and its composition are highly influenced by the type of ingested nourishment. The fish bred in semi-intensive way with the highest fat content are Common carp (7,62 ? 2,9 %) and Silver carp (6,87 ? 1,37 %). On the contrary the predatory fish evinced the fat content usually within 1%. The fish from extensive breeding or the types caught in sport fishing are in the fat con-tent more balanced. The fattest fish in this group is Silver Bream (5,52 ? 0,44 %) and the lowest content evinced Goldfish (1,14 ? 0,38 %). Also the species living in the aquaculture and living in the free waters as well were compared (Common carp, Rainbow trout, Peled, Tench, Wels catfish). The fatty acid composition significantly depends on the fat content. The predatory fish contain 195 - 219 mg×100 g-1, the most (p0,05) was found by the peled from the extensive breed (1048 mg×100 g-1 EPA + DHA). The participation of SFA by the most of the fish was under 30%, the content of MUFA was the highest by the Common carp (52,71 ? 7,75 %), the lowest by the European perch (18,83 ? 1,12 %). Pike, Zander and European perch contain relatively the most of PUFA, this is over 50%. All the fish species (Nile tilapia excluded) show in this study the values of atherogenic index below 0,5 and thrombogenic index below 0,4. The total energetic value was counted from the results of nutritional values presented in the "Big 7" list. The higher energetic value is directly proportional to the increasing fat content. The fish species included in this thesis show the total energetic value in the range of 500 - 900 kJ×100 g-1. The results of this study bring complete, laboratory proven information about the nutrition composition of our fish. This data can be appli-cable not only to increase the knowledge of the customers but mainly to be used by breeders and manufacturers of fish as an implement of fulfilling the duty of stating the nutrition facts on their products according to ES 1169/2011 on the providing infor-mation about the eatables to the consumers.

Made available in DSpace on 2016-06-02T19:45:57Z (GMT). No. of bitstreams: 1 DissDBRS.pdf: 2495238 bytes, checksum: 88909f0c3f20f32f4997ad3220cef954 (MD5) Previous issue date: 2007-05-31 / Facing the great debate on the inclusion of students with special needs, this study investigated the involvement, level of support and activities performances of children with cerebral palsy on the school context through the School Function Assessment ( SFA ). It also demonstrates the valuation s contributions through the presentation of a case on the identification of the capacities and limitation of those students and also to determine possible intervention points along with the teacher. On this study, 10 teachers and their respective students with cerebral palsy of public and private schools in São Paulo and neighbor cities were involved. Was applied the SFA the consists of a test in questionary s format systematized answered by the teachers. The results indicated children s involvement were more restricted on the restrooms, transportation and transitions, once that those environments demanded practice of physical tasks such as go to the restrooms, managing clothes flushing the toilet, embark and disembark of schools transportation and move inside the school. It also notable high levels of assistance on the execution of those tasks and minimal or no adaptation in environment as restrooms or adapted vehicles, such as a flat surface of easy access at schools. Also, the use of mobility resources such as crutches and walkers consisted as important facilitators of participation, opposite of the students who moved helped by other people. Regarding the cognitive/behavior aspects required at school like memory, attention, communication and integration with classmates and adults, it s notable that happened minimal limitation that consists in favorable points for inclusion in regular schools. It is also accentuated the importance of special education professionals such as occupational therapists, physical therapists, on the school environment in order to accomplish the as with the teachers to potentiate the participation those students. Also, it s necessary governmental actions for introduce environment s adaptations at schools. / Diante do amplo debate acerca da inclusão do educando com necessidades especiais em escola regular, o presente estudo buscou investigar a participação, níveis de auxílio e desempenho de atividades de crianças com paralisia cerebral no contexto escolar por meio da aplicação da School Function Assessment ( SFA). Visou ainda demonstrar as contribuições da avaliação por meio da apresentação de um estudo de caso a fim de identificar a capacidade e as limitações desses alunos e determinar possíveis pontos de intervenção junto ao professor. Participaram deste estudo 10 professores e seus respectivos alunos com paralisia cerebral pertencentes a escolas públicas e privadas do município de São Paulo e cidades vizinhas. Foi realizada a aplicação da SFA que consiste em um teste em formato de questionário estruturado respondido pelos professores. Os resultados indicaram que a participação das crianças foi mais restrita no banheiro, transporte e transições, uma vez que estes ambientes requeriam desempenho de tarefas físicas tais como direcionar-se até o banheiro, manipular as roupas, dar descarga, além de embarcar e desembarcar do transporte escolar e mover-se em todos os espaços da escola. Nota-se ainda altos níveis de assistência para execução dessas tarefas e pouca ou nenhuma adaptação como banheiros ou veículos adaptados, bem como terrenos planos de fácil acessibilidade nas escolas. Além disso, o uso de recursos para mobilidade como andador ou muletas consistiram em importantes facilitadores da participação, ao contrário dos alunos que deslocavam-se com auxílio de terceiros. Em relação aos aspectos cognitivo/comportamentais requeridos na escola como memória, atenção, comunicação, interação com colegas e adultos, nota-se que houveram poucas limitações, indicando pontos favorecedores da inserção em escola regular. Destaca-se ainda a importância da atuação de profissionais de educação especial como terapeutas ocupacionais, fisioterapeutas no ambiente escolar a fim de realizar um trabalho conjunto com professores para potencializar a participação desses alunos. Além disso, faz-se necessário ações de esferas governamentais para implementação de adaptações ambientais nas escolas.

Submitted by Automa??o e Estat?stica (sst@bczm.ufrn.br) on 2016-04-25T21:18:31Z No. of bitstreams: 1 LuisFilipeAzevedoDeOliveira_DISSERT.pdf: 2758518 bytes, checksum: 7f5afec1f5d1f9f925d4aac95380ba09 (MD5) / Approved for entry into archive by Arlan Eloi Leite Silva (eloihistoriador@yahoo.com.br) on 2016-04-27T19:58:21Z (GMT) No. of bitstreams: 1 LuisFilipeAzevedoDeOliveira_DISSERT.pdf: 2758518 bytes, checksum: 7f5afec1f5d1f9f925d4aac95380ba09 (MD5) / Made available in DSpace on 2016-04-27T19:58:21Z (GMT). No. of bitstreams: 1 LuisFilipeAzevedoDeOliveira_DISSERT.pdf: 2758518 bytes, checksum: 7f5afec1f5d1f9f925d4aac95380ba09 (MD5) Previous issue date: 2014-02-24 / No Brasil, o agente regulador do setor de energia el?trica ? representado pela Ag?ncia Nacional de Energia El?trica. A revis?o das tarifas tem sido uma das suas principais atribui??es, ao estabelecer uma pr?tica tarif?ria em um n?vel compat?vel com a cobertura dos custos operacionais eficientes e a remunera??o adequada dos investimentos realizados pelas distribuidoras. As mudan?as nos procedimentos adotados pelo agente regulador para redefini??o dos custos eficientes, bem como os diversos estudos encontrados na literatura sobre os procedimentos utilizados na regula??o desse segmento denotam o desafio enfrentado sobre qual a melhor estrat?gia metodol?gica a ser empregada. Nesse contexto, esta pesquisa tem como objetivo propor um modelo para avalia??o de benchmarking, aplicado ao sistema de regula??o nacional no estabelecimento dos custos operacionais eficientes das concession?rias de distribui??o de energia el?trica. O modelo ? formulado para promover o desenvolvimento do mercado de energia el?trica, associado com pol?ticas governamentais e em benef?cio da sociedade. Para conduzir esta pesquisa, adota-se uma integra??o do modelo de An?lise Envolt?ria de Dados (DEA) com a An?lise de Fronteira Estoc?stica (SFA), em um procedimento que estabelece tr?s est?gios para corrigir a efici?ncia em termos dos efeitos ex?genos: (i) avalia??o por meio de DEA para mensurar as folgas nos custos operacionais das distribuidoras, em que as vari?veis ex?genas s?o omitidas; (ii) as folgas calculadas no primeiro est?gio s?o regredidas sobre um conjunto de vari?veis ambientais, por meio de SFA e os custos operacionais s?o corrigidos para contabilizar o impacto dos efeitos ambientais e o ru?do estat?stico; e, (iii) reavalia??o do desempenho das concession?rias de distribui??o de energia el?trica, respaldado pelo uso de DEA. A partir dessa metodologia foi poss?vel obter- uma avalia??o do desempenho exclusivamente expresso em termos de efici?ncia de gest?o, nos quais s?o controlados pelos efeitos do meio ambiente operacional e do ru?do estat?stico. A metodologia em tr?s est?gios alcan?ou o principal objetivo, ao nivelar os custos das concession?rias em termos do efeito ex?geno e aleat?rio, tornando o desempenho das concession?rias mais homog?neos. / In Brazil, the National Agency of Electric Energy (ANEEL) represents the energy regulator. The rates review have been one of its main tasks, which establish a pricing practice at a level to cover the efficient operating costs and also the appropriate return of the distributors investments. The changes in the procedures to redefine the efficient costs and the several studies on the methodologies employed to regulate this segment denote the challenge faced by regulators about the best methodological strategy to be employed. In this context, this research aims to propose a benchmarking evaluation applied to the national regulation system in the establishment of efficient operating costs of electricity distribution utilities. The model is formulated to promote the electricity market development, partnering with government policies ant to society benefit. To conduct this research, an integration of Data Envelopment Analysis (DEA) with the Stochastic Frontier Analysis (SFA) is adopted in a three stages procedure to correct the efficiency in terms of environmental effects: (i) evaluation by means of DEA to measure operating costs slacks of the utilities, in which environmental variables are omitted; (ii) The slacks calculated in the first stage are regressed on a set of environmental variables by means of SFA and operating costs are adjusted to account the environmental impact and statistical noise effects; and, (iii) reassess the performance of the electric power distribution utilities by means of DEA. Based on this methodology it is possible to obtain a performance evaluation exclusively expressed in terms of management efficiency, in which the operating environment and statistical noise effects are controlled.