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    Combinação de negócios no setor de saúde suplementar no Brasil : uma análise de concentração de mercado e rentabilidade

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    This research analyzes whether market concentration and profitability are determining factors for the likelihood of business combinations in the Brazilian supplementary healthcare sector. The supplementary healthcare segment, in addition to being an essential segment for the population, is highly concentrated due to its economies of scale, and has a large number of mergers and acquisitions, and is increasingly growing. The research used data from Self-Management, Medical Cooperatives, Philanthropy, Group Medicine and Specialized Health Insurance Companies that were registered in April 2024 with the ANS – National Health Agency and that had active beneficiaries until December 2022, in addition to the supplementary healthcare market concentration analysis processes submitted to CADE – Administrative Council for Economic Defense. Data were extracted from 707 companies and 232 processes submitted for approval by CADE in the period between 2011 and 2022, totaling 6,618 observations used in a logit model to estimate the probability of business combinations occurring. Among the characteristics of the companies studied, it was possible to confirm the study hypotheses through performance using the ROIC proxy for return and the Herfindall index for market concentration, in relation to total beneficiaries. The results demonstrated that profitability and market concentration, in relation to total beneficiaries, can be considered as determining factors for the occurrence of business operations, either to the detriment of inefficient companies being subject to merger and/or acquisition by companies that are operating with positive returns and in a state of solvency or because companies with higher concentration indices seek, through business combinations, to reduce production costs and increase goods and services through economies of scale. These results, in addition to contributing to the understanding of a market with strong movement in mergers and acquisitions, help to better understand the factors that make companies potential targets for this type of operationEsta pesquisa analisa se a concentração de mercado e a rentabilidade são fatores determinantes para a probabilidade de ocorrência de combinações de negócios na saúde suplementar brasileira. O segmento de saúde complementar, além de ser um segmento essencial para a população, ele é altamente concentrado em função da sua economia de escala, e apresenta grande número de operações de fusões e aquisições, e está cada vez mais em crescimento. Para a pesquisa foram utilizados dados de Autogestão, Cooperativas Médicas, Filantropia, Medicina em Grupo e Seguradoras Especializadas em Saúde que possuíam registros em abril de 2024 perante a ANS – Agência Nacional de Saúde e, que possuíam beneficiários ativos até dezembro de 2022, além dos processos de análise de concentração de mercado de saúde suplementar submetidos ao CADE – Conselho Administrativo de Defesa Econômica. Foram extraídos dados de 707 empresas e 232 processos submetidos a aprovação do CADE no período compreendido entre 2011 a 2022, perfazendo um total de 6.618 observações utilizadas em modelo logit para estimar probabilidade de ocorrência de combinações de negócios. Dentre as características das empresas estudadas foi possível confirmar as hipóteses de estudo através do desempenho por meio das proxy ROIC para retorno e o índice Herfindall para concentração de mercado, em relação a beneficiários totais. Os resultados demonstraram que rentabilidade e concentração de mercado, em relação a beneficiários totais, podem ser consideradas como fatores determinantes para ocorrência de operações de negócios, seja em detrimento de que empresas ineficientes possam ser objeto de fusão e/ou aquisição por empresa que estejam operando com retorno positivos e em estado de solvência ou porque empresas com maiores índices de concentração buscam através das combinações de negócios a redução dos custos de produção e o incremento de bens e serviços através de economias de escala. Esses resultados, além de contribuírem para o entendimento de um mercado com forte movimentação em números de fusões e aquisições, ajudam a entender melhor os fatores que mais tornam empresas potenciais alvos para esse tipo de operaçã

    COMBINAÇÃO DE NEGÓCIOS NO SETOR DE SAÚDE SUPLEMENTAR NO BRASIL: UMA ANÁLISE DE CONCENTRAÇÃO DE MERCADO E RENTABILIDADE

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    This research analyzes whether market concentration and profitability are determinants of business combinations in the Brazilian supplementary healthcare sector. This segment, besides being essential for the population, is highly concentrated due to economies of scale and shows an intense movement of mergers and acquisitions. The study used data from Self-Management, Medical Cooperatives, Philanthropy, Group Medicine, and Specialized Health Insurance Companies registered with the ANS in April 2024, with active beneficiaries until December 2022, and also from market concentration cases submitted to CADE. In total, information was extracted from 707 companies and 232 processes submitted to CADE between 2011 and 2022, generating 6,618 observations analyzed through a logit model to estimate the probability of business combinations. Company characteristics allowed testing hypotheses using ROIC as a proxy for profitability and the Herfindahl index for market concentration, both in relation to beneficiaries. Results indicated that profitability and market concentration are determining factors for the occurrence of mergers and acquisitions. Inefficient companies tend to be absorbed by more profitable and solvent firms, while those with higher concentration levels pursue business combinations to reduce costs and expand goods and services through scale economies. These findings contribute to understanding the dynamics of a market strongly influenced by mergers and acquisitions and help identify the factors that make firms potential targets for such operations.Esta investigación analiza si la concentración de mercado y la rentabilidad son determinantes de las combinaciones de negocios en el sector de salud suplementaria en Brasil. Este segmento, además de ser esencial para la población, es altamente concentrado debido a las economías de escala y presenta un intenso movimiento de fusiones y adquisiciones. El estudio utilizó datos de empresas de Autogestión, Cooperativas Médicas, Filantropía, Medicina de Grupo y Seguros de Salud Especializados registradas en la ANS en abril de 2024, con beneficiarios activos hasta diciembre de 2022, así como información de casos de concentración de mercado presentados ante el CADE. En total, se extrajeron informaciones de 707 empresas y 232 procesos enviados al CADE entre 2011 y 2022, generando 6.618 observaciones analizadas mediante un modelo logit para estimar la probabilidad de ocurrencia de combinaciones de negocios. Las características de las empresas permitieron probar hipótesis utilizando el ROIC como proxy de rentabilidad y el índice de Herfindahl para la concentración de mercado, ambos en relación con los beneficiarios. Los resultados indicaron que la rentabilidad y la concentración de mercado son factores determinantes para la ocurrencia de fusiones y adquisiciones. Las empresas ineficientes tienden a ser absorbidas por firmas más rentables y solventes, mientras que aquellas con mayores niveles de concentración buscan combinaciones de negocios para reducir costos y ampliar bienes y servicios mediante economías de escala. Estos hallazgos contribuyen a comprender la dinámica de un mercado fuertemente influenciado por fusiones y adquisiciones y ayudan a identificar los factores que convierten a las empresas en potenciales objetivos para este tipo de operaciones.Esta pesquisa analisa se a concentração de mercado e a rentabilidade são fatores determinantes para a probabilidade de ocorrência de combinações de negócios na saúde suplementar brasileira.  Para a pesquisa foram utilizados dados de Autogestão, Cooperativas Médicas, Filantropia, Medicina em Grupo e Seguradoras Especializadas em Saúde que possuíam registros em abril de 2024 perante a ANS – Agência Nacional de Saúde e, que possuíam beneficiários ativos até dezembro de 2022, além dos processos de análise de concentração de mercado de saúde suplementar submetidos ao CADE – Conselho Administrativo de Defesa Econômica. Foram extraídos dados de 707 empresas e 232 processos submetidos a aprovação do CADE no período compreendido entre 2011 a 2022, perfazendo um total de 6.618 observações utilizadas em modelo logit para estimar a probabilidade de ocorrência de combinações de negócios. Dentre as características das empresas estudadas foi possível confirmar as hipóteses de estudo através do desempenho por meio da proxy ROIC para retorno e o índice Herfindall para concentração de mercado, em relação a beneficiários totais. Os resultados demonstraram que rentabilidade e concentração de mercado, em relação a beneficiários totais, podem ser consideradas como fatores determinantes para ocorrência de operações de negócios, Esses resultados, além de contribuírem para o entendimento de um mercado com forte movimentação em números de fusões e aquisições, ajudam a entender melhor os fatores que mais tornam empresas potenciais alvos para esse tipo de operação

    Going Beyond Counting First Authors in Author Co-citation Analysis

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    The present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed

    Variations on the Author

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    “Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship

    Appropriate Similarity Measures for Author Cocitation Analysis

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    We provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis

    Dispelling the Myths Behind First-author Citation Counts

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    We conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more sophisticated methods

    Author Index

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    koamabayili/VECTRON-author-checklist: VECTRON author checklist

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    We have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used
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