Background: Irrational antimicrobial consumption (AMC) became one of the main global health problems in recent decades. Objective: In order to understand AMC in Latin-American Region, we performed the present research in 6 countries. Methods: Antimicrobial consumption (J01, A07A, P01AB groups) was registered in Argentina, Chile, Colombia, Costa Rica, Paraguay, and Peru. Source of information, AMC type, DDD (Defined Daily Doses), DID (DDD/1000 inhabitants/day), population were variables explored. Data was analyzed using the Global Antimicrobial Resistance and Use Surveillance System (GLASS) tool. Results: Source of information included data from global, public, and private sectors. Total AMC was highly variable (range 1.91-36.26 DID). Penicillin was the most consumed group in all countries except in Paraguay, while macrolides and lincosamides were ranked second. In terms of type of AMC according to the WHO-AWaRe classification, it was found that for certain groups like “Reserve,” there are similarities among all countries. Conclusion and Relevance: This paper shows the progress that 6 Latin-American countries made toward AMC surveillance. The study provides a standardized approach for building a national surveillance system for AMC data analysis. These steps will contribute to the inclusion of Latin-America among the regions of the world that have periodic, regular, and quality data of AMC.

This research aims to cluster American and Brazilian Real Estate Investment TrustsUSAREITs and BRREITs, respectively -based on their risk-adjusted measures of performance from January/2003 to August/2013, as well as before, during and after the financial crisis of 2008. Factor and Cluster Analysis pointed out three groups. Afterwards, Kruskal-Wallis and Dwass-Steel-Chritchlow-Fligner pairwise comparisons were adopted to verify the statistical differences between clusters. Overall, BRREITs achieved a better performance before and during the crisis, but an inferior performance after the crisis. ISSN 1941-899X 2015 www.macrothink.org/jmr 167 USAREITs presented a more aggressive strategy after the crisis, whilst BRREITs presented a more conservative strategy during the same period. Journal of Management Research

acompanhamento técnico e organizacional a agricultores familiares, produtores de leite integrantes do sistema de cooperativas, em dez municípios do Paraná com baixo índice de desenvolvimento humano (IDH). Foram discutidas experiências vividas por seus participantes, levantando os pontos positivos e negativos referentes ao cooperativismo nesses municípios.

The goal of this research is to examine the performance of American Real Estate Investment Trusts (REITs) and Brazilian Real Estate Investment Trusts (FIIs) by using the standard performance measurement methods of Sharpe, Treynor, Jensen, Appraisal, Sortino and MM during the 2003-2013 period, as well as to identify the macroeconomic variables that influenced the assets´ performances by adopting the APT (Asset Pricing Theory) model. Specifically, we sought to determine the performance obtained by REITs and FIIs before (January/2003 to May/2007), during (March/2009 to June/2007) and after the financial crisis (April/2009 the August/2013) of 2008. Additionally, we sought to examine the stability of the performance of REITs and FIIs during the period 2003-2013, as well as between the subperiods just mentioned. Finally, we investigated whether FIIs performed better than REITs during any period of analysis. The results indicate that most REITs and FIIs were able to overcome the risk-free rate and the market portfolio during the analyzed period. However, the Wilcoxon Test Signal indicates that, in general, the performance of REITs did not persist during the subperiods. FIIs were able to present persistence of performance before, during and after the financial crisis. To verify if the performance of FIIs was superior to the REITs, the non-parametric Mann-Whitney test was applied. According to the results, all REITs showed measures of risk-adjusted performance superior to FIIs during 2003 and 2013. To test equality of the performance of REITs and FIIs in different subperiods the Kruskal-Wallis and Mann-Whitney tests were used. The results indicate that the equality of performance was rejected as well as the hypothesis of superiority of FIIs over REITs. Finally, the APT model used to determine the macroeconomic variables that influence the returns of REITs and FIIs showed that in the U.S. market, the variables: risk premium and the term structure were significant. In the Brazilian market, the term structure and the unexpected inflation were statistically significant to explain the return of the assets.