03/10/2014

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Meditations It continues presenting it me as if he presented until then; masna reflexiva attitude that me is proper in the quality of philosopher, I do not effect maiso act of the existencial belief of the natural experience, I do not admit plus such crenacomo valid, even so at the same time, this always remains captadapelo to look at there, also of ateno' ' (Cartesian E. Husserl, Meditations, p 17, Colin, 1931). To follow we will discourse, separately, metaphysics and kantiana afenomenologia and its effect. METAPHYSICS AND the ORIGIN OF the KNOWLEDGE the first investigation that if it offers the thinking spirit, eque is the base of all the investigations, is the origin of its knowledge. The origin of knowledge can underneath be considered dediferentes points of view. If the beddings of knowledge consider as primitive base, the soul are the first origin, that is, the meeting of its facultieses. If it considers the way with that the soul of the principles its knowledge, then the different development of its facultieses or different laws revealed for this development is also origin of the knowledge. If it considers what of the reasons to develop this activity in the manifestation of its laws, then the feelings and reflection are the ones that cause one such development and have the name of origin of knowledge. If it considers as a primitive knowledge, of which they leave or where if they derive the knowledge more, then the primitive truths and the first principles get the name of origin of knowledge. These primitive truths, these first ones princpiosparecem that in they are not presented for the directions and the reflection; the objetosnos seem given for them, our soul not making more than to recognize them. Let us apply the ways that can assure in them of...
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Perpetuidade Value The value of the perpetuity, in the methodology of evaluation of companies is calculated by the relation enters the flow of available operational box and the cost of capital (WACC), considering, also, that the box flows grow to a constant tax g, defining, thus, the expression below, known in financial literature as model of Gordon. (4) Where: PVp is the value of the perpetuity; FCOD is the flow of available operational box; WACC is the total cost of capital; g is the constant tax of growth. In the appraisal of the company Paranapanema s.a. a nominal tax was considered of growth in the period of perpetuity of 4,7% to the year. 4 O VALOR ECONMICO DE A PARANAPANEMA s.a. In accordance with the beddings, methodology and parameters used until here, can be defined the result of the economic value of the company Paranapanema S.A, for the method of the flow of deducted box, as presented for the finding of BB Banco de Investimento s.a., summarized below: Summary of the Evaluation (R$ a thousand) Date Base of the Avaliao31/3/2010 Present Value of the Flows of Caixa1.161.477 Terminal1.698.572 Value Nominal Growth in Perpetuidade4.70% Present Value of the Terminal485.677 Value Total Value of Company (EV) 1.647.154 (+) Lquido210.521 Box (-) Parcelamento Balance Tributary (125.177) Value for the Acionistas1.732.498 Number of Action ON (a thousand) 319,177 Price Just for Action ON (5,43 R$) Table 6? Result of the Evaluation for the method of the FCD of the company Paranapanema s.a. Source: BB Banco de Investimento s.a. (2010) O Valor Econmico (EV) was calculated through the basic structure of evaluation of companies for the method of the FCD, projecting the flows of box of operational nature, enclosing a first horizon of time of 10 (ten) years and another horizon of known time as perpetuity, calculated...