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Aimed to apply the Balanced Scorecard (BSC) in a dairy farm with small-scale production, located in the south of Minas Gerais State, Brazil. The survey was conducted from January to December 2013 and the gathering of information was carried out through semi-structured interviews on the spot. As data collection instruments were used personal interviews, document analysis and direct and participant observation. The farm object of study had 216 ha, 80% of this, leased. The activities were dairy farming, corresponding to 80% of revenues, and the cultivation of coffee. The breeding farm was 22 predominantly Holstein cows (¾H) that are loose in the pasture. The daily production was 350 liters average of 15.9 liters of milk per cow in milk, in two daily milkings. The main strength was the low cost of hand labor; while the weaknesses identified were the infrastructure, the lack of management control and planning. The mission created takes into account the increased efficiency in milk production and increase the quality of this product without increasing the herd. At the end, a strategic map, where it was revealed that the objectives growth and efficiency will be achieved taking into account the increase in revenue was proposed. It was found at the end of the study, that the principles of BSC can be applied to a farm producing small milk with some caveats. [ABSTRACT FROM AUTHOR]

Among the main tax discussions in Brazil is the fact that indirect taxes greatly increases the product prices and consequently influence the consumption pattern. This work aimed to propose a model to measure the financial cost of excise taxes along one supply chain and analyze the sensitivity of this cost in relation to time and added value. Equations were developed with tax incidence, based on the current legislation and were applied in a simulated supply chain. Finally, was performed a sensitivity analysis by linear regression in 200 hypothetical supply chains. These analyzes confirmed the thesis that the longer the production chain and the greater are the added values in the initial links, the greater is the financial cost. It can be concluded that the model is applicable and that the financial cost of taxes influences the final selling price of the products. [ABSTRACT FROM AUTHOR]

Organizations seek partnerships, fusions and acquisitions (F & A) in expected to obtain economies of scale and gain of synergy, scope and value creation or even at entry into new markets. Decided by acquisition or merger, it is necessary to carry out the evaluation of the enterprise. Business evaluation models and methodologies have been developed over time, with the assumptions and information arising from finance theory. The acquisitions of anonymous public companies are carried out through the public offering of shares (OPA). In Brazil, the OPA is disciplined by the Normative Instruction - in 361/2002 of the Securities and Securities, and must be accompanied by a company assessment report. This research through content analysis sought to evidence information about the company's history and vision, marketing market, criteria and assumptions of evaluation, discount rate, among others, constant in the evaluation reports. It was evidenced that the item that presented a higher amount of words and / or data set was market and industry. The supremacy of discounted cash flow methodology was found. In all reports was evidenced information about business knowledge and strategic analysis. The qualification of the evaluators presented the lower variability of information, indicating a certain standardization of these data. It can be considered that the information highlighted in the Lauds suprem the needs of information of users and can be a tool to minimize asymmetry of information and errors in Valuation. Although the quality of the information has not been evaluated, it can be inferred that a greater amount of data can offer larger informational content, thus giving more subsidy for decision-making. [ABSTRACT FROM AUTHOR]

The present study aimed to investigate the intangibility and total factor productivity (TFP) and verify causality relationship between these two variables in the Brazilian industrial sector. To that end, the variables were analyzed using the Granger causality test. The results of Granger causality tests showed that two of the twelve sectors analyzed showed causality of GI in the sense of Granger for TFP. On the other hand, two sectors showed causality of TFP in the sense of Granger for GI. These results concluded that the intangibility of the Brazilian industrial sector, despite having growth, has not yet reached the levels of intangibility of the companies belonging to the most developed countries. [ABSTRACT FROM AUTHOR]