Made available in DSpace on 2015-04-11T13:52:37Z (GMT). No. of bitstreams: 1 Caroline Regina Soares da Silva.pdf: 1044583 bytes, checksum: 91a1eacf551345ae187f5b2614fe327e (MD5) Previous issue date: 2012-04-23 / CAPES - Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / One of the great challenges of the Amazon is trying to reduce the transaction costs incurred by companies when they go to market demand customs services, that because this type of activity produces significant impact on the competitiveness of the products of PIM. Thus, this study aims to identify and understand the institutional reasons that do not promote celerity in attendance the demands for customs services and tax services within the economy of Manaus. The basic hypothesis states that the factor related to bureaucracy overlaps the infrastructural. Specifically, we intend to: a) Identify the main factors that influence the time of clearance of goods at the airport system; b) Identify the main factors that influence the time of clearance of goods at the port system. The conceptual framework of this study is based on the concepts of Transaction Costs, Institutions and Economic Growth, emphasizing that "there are costs in addition to the directly involved with the production, which influence the formation of the total cost of the product, such as excessive tax burden, processes bureaucratic corruption, gaps in infrastructure, among others "ESPINO (1999). The method known as Factorial Analysis was used to summarize the variable taken to account for the time required for clearance of goods, grouping them into factors. We conclude that the factors that influence this time in the airport system are the care provided by servers and bureaucracy of the intervening agencies. On the other hand, at the port system, refuting the hypothesis of this work, the infrastructure put up more as a factor influencing the time needed for implementation of customs services. / Um dos grandes desafios do Amazonas é tentar reduzir os custos de transação incorridos pelas empresas quando estas vão ao mercado demandar serviços aduaneiros, isso porque este tipo de atividade produz impacto significativo na competitividade dos produtos do PIM. Assim, este estudo visa identificar e compreender as razões institucionais que não promovem celeridade no atendimento das demandas por serviços aduaneiros e fiscais no âmbito da economia de Manaus. A hipótese básica estabelece que o fator relacionado à burocracia sobrepõe-se ao infraestrutural. Especificamente, pretende-se: a) Identificar os principais fatores que influenciam o tempo de desembaraço de mercadorias no sistema aeroportuário; b) Identificar os principais fatores que influenciam o tempo de desembaraço de mercadorias no sistema portuário. O marco conceitual deste estudo assenta-se nos conceitos de Custos de Transação, Instituições e Crescimento Econômico, enfatizando que existem custos, além dos envolvidos diretamente com a produção, que influenciam na formação do custo total dos produtos, como excessiva carga tributária, processos burocráticos, corrupção, lacunas de infraestrutura, dentre outros ESPINO (1999). O método denominado Análise de Fatorial foi utilizado para sumarizar as variáveis tomadas para explicar o tempo necessário para desembaraço de mercadorias, agrupando-as em fatores. Conclui-se que no sistema aeroportuário os fatores que mais influenciam este tempo são o atendimento prestado pelos servidores e a burocracia dos órgãos intervenientes. Por outro lado, no sistema portuário, refutando a hipótese deste trabalho, a infraestrutura colocou-se como fator mais influenciador do tempo necessário à execução dos serviços aduaneiros.

Ter ou contratar é a questão estratégica abordada na presente dissertação. A pesquisa tem o objetivo de estudar o mercado de serviços agrícolas de mecanização dentro do escopo e dos limites da firma agrícola. A questão a ser investigada focaliza as razões da predominância da opção pela propriedade da frota de equipamentos por parte dos agricultores. Destaca-se que foi feito um recorte com relação às culturas agrícolas para o estudo, os Sistemas Agroindustriais selecionados foram o da cana-de-açúcar e o da soja. Para resolver essa questão é utilizada a Nova Economia Institucional como base teórica. Os conceitos da Economia de Custos de Transação e sua estratégia de economizar nos custos de transação são elementos que fundamentam as hipóteses sobre a escolha dos arranjos institucionais. O cenário das transações é o ambiente institucional e as instituições são as responsáveis pelas regras que as governam; justificando a análise setorial sobre esse mercado de serviços mecanizados. A Teoria do Crescimento da Firma é utilizada para explicar o surgimento desse novo mercado. A análise empírica envolve duas abordagens: a qualitativa e quantitativa. Na qualitativa são analisados os SAG´s da soja e da cana-de-açúcar, em seguida a análise do ambiente institucional e as regras que envolvem a subcontratação no país para então uma análise setorial do mercado de serviços de colheita mecanizada ser elaborada com base no arcabouço teórico. Na abordagem quantitativa é feita uma comparação entre dos custos operacionais da aquisição de colhedoras ou a contratação de serviços de fornecedores externos; seguida de um modelo probit para investigar a relação entre contratar ou não um serviço de colheita mecanizada. Como resultado da analise do ambiente institucional, foi mostrado que existem regras ambíguas em relação à subcontratação, o que desencoraja e por vezes penaliza quem escolhe contratar. A análise setorial do mercado de serviços de colheita mecanizada no SAG da soja e da cana-de-açúcar foi feita por meio de dois estudos de caso. Foram realizadas entrevistas em profundidade com os fornecedores de serviços de colheita mecanizada e stakeholders. Como resultado proeminente da análise constata-se que os serviços surgem de produtores rurais (100%) que já possuíam máquinas e decidiram otimizar seu uso, e também que a maioria (63%) atua informalmente. Esse resultado corrobora a primeira hipótese (H1) sobre o surgimento de serviços da Teoria do Crescimento da Firma. Em seguida na primeira análise quantitativa verifica-se que os custos operacionais de integrar e contratar o serviço são bem próximos se a opção for comprar uma máquina à vista e contratar. Porém quando financiadas a propriedade não se torna boa opção financeira. Na outra etapa quantitativa foi elaborado um modelo econométrico e investigou-se a relação entre contratar ou não um serviço de colheita mecanizada com a especificidade temporal e locacional, contratos anteriores e a influência negativa do ambiente institucional. Do modelo idealizado e do levantamento realizado os resultados são que as hipóteses relacionadas com a especificidade do ativo (H2) e a existência de contratos bem sucedidos no passado (H3) foram validados com grau de significância de 5%. A hipótese relacionada ao ambiente institucional (H4) apesar de ser significante não foi validada, pois tem o efeito oposto ao esperado. Foram utilizados, portanto, dados qualitativos e quantitativos. Concluiu-se como previsto que a maioria dos produtores é integrada verticalmente (67,2%) e que a opção não é financeira e que os custos de transação importam na tomada de decisões. A atenção agora se volta para os próximos passos sugeridos, como expandir o estudo para novas culturas e serviços agrícolas. / Make or contract is the strategic issue addressed in this dissertation. In this thesis I shall investigate the market of agricultural mechanization services within the scope and limits of the agricultural firm. The question to be investigated focuses on the reasons for the predominance of the option for ownership of the equipment by farmers It is emphasized that a cut was made with respect to agricultural crops for the study, the Agribusiness Systems selected were sugarcane and soybeans. To settle this proposition it is used the New Institutional Economics as a theoretical basis. The concepts of Transaction Cost Economics and its strategy to save on transaction costs are elements that underlie the hypotheses on the choice of institutional arrangements. The scenario of transactions is the institutional environment and the institutions are responsible for the rules which govern them; justifying the sectorial analysis of the market for mechanized services. The Theory of the Growth of the Firm is used to explain the emergence of this new market. The empirical analysis involves two approaches: qualitative and quantitative. Qualitative analyzes the SAG\'s of soy and sugarcane, and then the analysis of the institutional environment and the rules surrounding outsourcing in the country for finally a sectorial analysis of the mechanical harvesting services market to be developed based the theoretical framework. In the quantitative approach a comparison is made between the operational costs of acquiring harvesters and contracting external providers; followed by a probit model to investigate the relationship between contracting or not a service of mechanized harvesting. As a result of analysis of the institutional environment, it was shown that there are ambiguous rules regarding subcontracting, which sometimes discourages and penalizes those who choose to hire. A sectorial analysis of the mechanical harvesting services market in SAG of soy and cane sugar was made hrough two case studies. In-depth interviews were conducted with providers and stakeholders of mechanized harvesting services. As a prominent result of the analysis it appears that the services arise from farmers (100%) who had decided to optimize their machines, and also that the majority (63%) operates informally. This result supports the first hypothesis (H1) on the emergence of the Theory of Growth of the Firm services. Then the first quantitative analysis it is found that the operational costs of integrating and contracting services are very close if the option is to buy a machine in cash or to contract. But when financed property does not become a good financial option. In another quantitative step an econometric model was developed and investigated the relationship between to contract or not mechanized harvesting service, related with the temporal and locational specificity, previous contracts and the negative influence of the institutional environment. The idealized model and the survey results are the assumptions related to asset specificity (H2) and the existence of successful contracts in the past (H3) were validated with significance level of 5% The related institutional environment (H4) despite being significant event has not been validated, it has the opposite effect to that expected. Therefore, qualitative and quantitative data were used. It was concluded as planned that most producers are vertically integrated (67.2%) and that the option is not financial and that transaction costs matter in making these decisions. Attention now turns to the next suggested steps such as expanding the study to new crops and agricultural services.

Na região de Puno-Peru, existe suficiente recurso hídrico para a criação de trutas arco-íris, mas apesar do potencial não há suficiente exploração da atividade. Existem produtores agrupados dedicados empiricamente, que vêm desenvolvendo a indústria pesqueira, e para isso algumas estratégias industriais são adotadas pelos criadores, para viabilizar sustentabilidade. As estratégias industriais revisadas foram competitivas e cooperativas, de integração horizontal, de integração vertical, supply chain e economia de custos de transação. O método utilizado para desenvolver a pesquisa foi o exploratório, através do estudo de caso, envolvendo quatro empresas pertencentes a quatro agrupamentos, um de cada. Neste estudo constatou-se que os agrupamentos estão conformados por micro e pequenas empresas na sua maioria, cuja rentabilidade não é satisfatória, devido à falta de economias de escala e a escasso recurso financeiro, principalmente. Há relacionamento de parceria formal entre o produtor e o cliente atacadista nas áreas econômica, controle de qualidade e marketing, sob estrito parâmetro de responsabilidade; não há parceria formal com fornecedores de insumos, apenas relações comerciais guiadas pela cultura de responsabilidade e confiança entre os membros deste estágio. Quanto às estratégias competitivas e cooperativas, há como destaque diferenciação na pigmentação da carne e responsividade no atendimento ao cliente, sendo o mercado foco o intermediário regional e empresa exportadora. Ressalta-se a coordenação de atividades de compra e venda conjunta, ajuda mútua e empréstimos entre participantes dos agrupamentos. Foi identificado também apoio efetivo por uma organização não governamental, no processo de criação de peixes, porém falta incentivo por parte das instituições públicas. As informações coletadas permitiram contextualizar a estrutura industrial da truta nessa região. Finalmente, se propõe um modelo de estratégias de organização industrial baseado no relacionamento de agrupamentos de micro e pequenas empresas, como resultado das melhores estratégias utilizadas. Conclui-se que devem ser priorizados: relacionamentos horizontais entre os produtores, sob a filosofia de cooperação e competitividade, relacionamentos verticais com o fornecedor e cliente, em qualidade de parceiros, relacionamento com instituições públicas e privadas, como estratégias de suporte. / In the region of Puno-Peru, sufficient exists water resource for the creation of trouts rainbow, but although the potential does not have sufficient exploration of the activity. They exist empirically producing grouped dedicated, that they come developing the fishing industry, and for this some industrial strategies are adopted by the creators, to make possible support. The revised industrial strategies had been competitive and cooperative, of horizontal integration, of vertical integration, supply chain and economy of transaction costs. The used method to develop the research was the exploratory, through the case study, involving four pertaining companies four groupings, one of each. In this study it was evidenced mainly that the groupings are conformed by micron and small companies in its majority, whose yield is not satisfactory, due to lack of scale economies and the scarce financial resource. It has relationship of formal partnership between the producer and the wholesale customer in the areas economic, quality control and marketing, under strict parameter of responsibility; it does not have formal partnership with suppliers of inputs, only commercial relations guided by the responsibility culture and confidence enters the members of this period of training. How much to the competitive and cooperative strategies, it has as it has detached differentiation in the pigmentation of the meat and responsiveness in the attendance to the customer, having been the market focus the regional intermediary and exporting company. It is standed out coordination of activities of purchase and joint sales, mutual aid and loans between participants of the groupings. Effective support for a not governmental organization was also identified, in the process of creation of fish; however it lacks incentive on the part of the public institutions. As informações coletadas permitiram contextualizar a estrutura industrial da truta nessa região. Finally, if it considers a model of strategies of industrial organization based in the relationship of micron groupings and small companies, as resulted of the best used strategies. One concludes that they must be prioritized: horizontal relationships between the producers, under the philosophy of cooperation and vertical competitiveness, relationships with the supplier and customer, in quality of partners, relationship with public and private institutions, as support strategies.

O etanol produzido a partir da cana-de-açúcar já faz parte da matriz energética do Brasil há tempo considerável. Agora, com a perspectiva de escassez de petróleo, o etanol passa a ser uma opção de combustível para muitas outras nações no mundo. No entanto, para que isto ocorra, existe uma forte pressão para que este combustível se adéqüe a formas de produção que prezem pela sustentabilidade do sistema, com base no tripé: econômico, ambiental e social. Soma-se a isso um brutal aumento da demanda pelo combustível, o que leva os grupos do setor sucroalcooleiro a buscarem melhor formas para aumentar a competitividade do produto. Com isso os produtores independentes de cana-de-açúcar passam a ser vistos como um agente importante para o crescimento deste sistema. Um setor que é conhecido por verticalizar o processo da produção passa a encontrar nestes fornecedores independentes uma fonte de fornecimento de matéria-prima competitiva e fundamental. Este trabalho tem o objetivo de analisar a estrutura de governança utilizada pelos grupos do setor sucroalcooleiro, bem como eles gerenciam o relacionamento com fornecedores. Isto foi alcançado através de uma pesquisa desk research, com foco na teoria da Economia dos Custos de Transação, modelos eficientes de estrutura de governança e uma análise do sistema agroindustrial da cana-de-açúcar no Centro-Sul do Brasil, junto com um estudo multi-casos com 4 grupos do setor sucroalcooleiro do Estado de São Paulo. Os resultados obtidos evidenciam que a definição da estrutura de governança utilizada pelos grupos não ocorre de maneira pontual, e sim levando em conta aspectos ligados a capacidade dos fornecedores e a capacidade das usinas em lidar com esses relacionamentos. Outro resultado obtido diz respeito ao fato que a maior participação desses fornecedores acaba por estimular a especialização do agentes em sua atividade fim. / Sugar-cane ethanol has long been part of Brazils energy matrix. Recently, with the prospect of oil shortages, ethanol has become an option of fuel for many other nations around the world. Nevertheless, for this to occur, the ethanol industry has been pressured to adopt sustainable production processes, based on the tripod of sustainability: profit, environment and society. In addition to that, the blast on the demand for this fuel has been leading the industry towards enhancing the products competitiveness. Therefore, independent sugar-cane producers have become important players for the growth of the system. A sector known for verticalizing the production process now finds on these suppliers an important source of competitive rawmaterial. This paper aims to analyze the governance structure utilized by the sugar and ethanol industry, as well as the way it manages the relationship with suppliers. This has been reached through a desk research focused on the Theory of Transaction Costs, efficient models of governance structures and an analysis of the sugarcane commodity system in Central- Southern Brazil, along with a multi-case study involving 4 groups of the sugar and ethanol industry of the State of Sao Paulo. The results show that the definition of the governance structure utilized by the groups do not occur out of a context, but taking into account aspects related to the capacity of suppliers and mills in dealing with these relationships. Another result regards the fact that the participation of suppliers stimulates the specialization of the agents in their own core business.

Cette thèse de doctorat en Sciences de Gestion s’effectue en contrat CIFRE au sein d’un Bureau d’Etudes Techniques, B.E.T., situé en région Languedoc-Roussillon, depuis septembre 2013. Le terrain de recherche concerne le secteur du bâtiment. La question de recherche s’oriente vers le secteur du bâtiment et porte plus particulièrement sur l’impact des réseaux informels sur la coordination et la gestion des coûts de transaction dans les activités liées à l’aménagement et à la construction. / This PhD in Management Science is done by contract CIFRE within a Technical Study Bureau, BET, located in Languedoc-Roussillon area since September 2013. The field research concerning the building sector. The research question is directed towards the construction sector and more particularly to the impact of informal networks on the coordination and management of transaction costs in activities related to the development and construction.

Can momentum trading strategies beat Dutch or German stock market indices? If so, dothose strategies show significant positive net returns? For the period from March 2009 to March 2016this appears to be the case for only one out of the nine momentum trading strategies investigated withrespect to the Dutch stock market and for none of those same momentum trading strategiesinvestigated with respect to the German stock market. Furthermore, this research finds that the netmomentum returns seem to be winner- instead of loser-portfolio driven and that the longer the holdingperiod, the higher the net momentum returns realized.

Les marchés financiers occupent une place prépondérante dans l’économie. La future évolution des législations dans le domaine de la finance mondiale va rendre inévitable l’introduction de frictions pour éviter les mouvements spéculatifs des capitaux, toujours menaçants d’une crise. C’est pourquoi nous nous intéressons principalement, ici, aux modèles de marchés financiers avec coûts de transaction.Cette thèse se compose de trois chapitres. Le premier établit un critère d’absence d’opportunité d’arbitrage donnant l’existence de systèmes de prix consistants, i.e. martingales évoluant dans le cône dual positif exprimé en unités physiques, pour une famille de modèles de marchés financiers en temps continu avec petits coûts de transaction.Dans le deuxième chapitre, nous montrons la convergence des ensembles de sur-réplication d’une option européenne dans le cadre de la convergence topologique des ensembles. Dans des modèles multidimensionnels avec coûts de transaction décroissants a l’ordre n−1/2, nous donnons une description de l’ensemble limite pour des modèles particuliers et en déduisons des inclusions pour les modèles généraux (modèles de KABANOV). Le troisième chapitre est dédié a l’approximation du prix d’options européennes pour des modèles avec diffusion très générale (sans coûts de transaction). Nous étudions les propriétés des pay-offs pour pouvoir utiliser au mieux l’approximation du processus de prix du sous-jacent par un processus intuitif défini par récurrence grâce aux itérations de PICARD / Financial markets play a prevailing role in the economy. The future legislation development in the field of globalfinance will unavoidably lead to friction to prevent speculative capital movements, always threatening with crisis. Thatis why we are interested in the financial market models with transaction costs.This thesis consists of three chapters. The first one establishes a criterion of absence of arbitrage opportunitiesgiving the existence of consistent price systems, i.e. martingale evolving in the dual cone expressed in physical units.The criterion holds for a family of financial market models in continuous time with small transaction costs.In the second chapter, we show the convergence of super-replication sets for a European option in the contextof the topological convergence of sets. In multivariate models with transaction costs decreasing at rate n-1/2, we give adescription of the limit set for specific models. We deduce inclusions for general models (KABANOV's models).The third chapter is dedicated to the approximation of the European option price for models with very generaldiffusion (without transaction costs). We study properties of the pay-off to make best use of the approximation of theunderlying asset price, based on PICARD iterations.

This research investigates, using the New Institutional Economics theories of property rights and transaction cost, two interrelated problems. Firstly, the question of whether real estate markets in the urban informal settlements of Namibia could be used to alleviate poverty or, to put it differently, create wealth. The second problem relates to the question of whether specific forms of property rights matter for engendering pro-poor outcomes in real estate markets and, if so, what form these are likely to take. Corresponding to these questions are two working hypotheses respectively. Firstly, it is hypothesised that real estate is a significant asset held by the urban poor in Namibia and that there is potential for capital accumulation by trading up in real estate markets. Secondly it is hypothesised that, by affecting the incentive structure of, and transaction costs in real estate markets, systems of property rights affect market outcomes, thus ultimately determining whether these markets may be efficacious for poverty alleviation. The study employs the comparative institutional methodological approach in a case study framework to examine effects of three types of property rights regimes on low income real estate markets in settlements located on Windhoek’s periphery. The main empirical data for the study were collected by means of a questionnaire survey of 440 households in two settlements called Goreangab and Okahandja Park respectively. This survey was supplemented by 14 unstructured interviews with selected respondents and by key-informant interviews with officials from the Windhoek City Council (WCC), the Namibian Housing Action Group (NHAG), and the Namibian Housing Enterprises (NHE). The study finds that real estate is indeed a major asset held by the respondents. The study finds that, while there are robust rental markets for rooms and backyard structures, there is very limited sale activity. The study also finds that in the absence of formal property rights, social networks and hierarchical organisations rather than impersonal markets provide the institutional structure to transaction activity. It is found that the degree of formality of property rights correlates to perception of security, that property rights affect investment in housing and that property rights (to some extent) affects the degree of market activity. The study therefore concludes that while not insignificant gains are to be had from rental markets, there is at present limited potential to derive benefits from sale markets in Namibia due to a lack of trading activity. The first hypothesis is thus only partially confirmed. It is also concluded that while social networks guarantee access to urban land for the poor, they tend to lock them in enclaves of ethnic and kinship relations, inhibiting the development of wider, impersonal markets argued to be necessary for capital accumulation. Further, it is concluded that formal property rights create incentives for investment and therefore matter for capital accumulation, but that they are not necessarily accessible to the poor. The second hypothesis, that property rights affect market outcomes, is substantially confirmed. Overall the study concludes that there is good potential for leveraging real estate markets in Namibia’s (and other developing countries’) informal settlements for capital accumulation but that these need to be primed first. This means deliberate interventions with the aim of bringing about increased trading activity. In this regard specific proposals have been made for policy intervention in three key areas, namely, the creation of appropriate property rights systems, together with supporting organisational infrastructure, the expansion of physical infrastructure and the building of shared understanding and trust in urban communities. The study makes a number of key contributions to knowledge about the relationship between real estate markets and poverty alleviation in the area of theory, methodology, policy and empirical data. / Thesis (PhD)--University of Pretoria, 2009. / Construction Economics / unrestricted

The diploma thesis looks into the matter of political and economic transformation of Czechoslovakia and Czech Republic through lenses of institutional economics theories. It claims that the transformation measures did not consider the social embeddedness within cultural and historical limitations. The first part of the paper defines the methodology of institutional economics based mainly on Ronald Coase's and Oliver Williamson's work. The following part aims to draw an image of historical and political context of Czechoslovak transformation. The compatibility of conditions, goals and means of the transformation is being considered in the third part. Finally, the work structures and evaluates World Bank's data set that forms an important part of endogenous influences of institutionalisation. The conclusion judges the outcome of political and economical transformation rather critically.

Many common accounts of natural law understand it in opposition to modern social welfare theory. Contrary to that wisdom, this article shows  how many of the fixed landmarks of the common law, including its rules on individual autonomy and the definition and acquisition of private property, comport with the natural law tradition. t he modern welfarist positions only emerge through key decisions in nineteen century law, which then help explain the choice among three welfarist positions: Kaldor-Hicks, Pareto and a more rigorous standard that requires pro rata gains among all parties. this essay uses a transaction costs framework to explain the proper deployment of these three rules. / Diversas versiones comunes del derecho natural lo conciben en contraposición a la teoría moderna del bienestar social. Contrariamente a dicha concepción, este artículo evidencia cuántos de los hitos del derecho común, incluyendo sus reglas sobre la autonomía individual y la definición de la adquisición de la propiedad privada, concuerdan con la tradición del derecho natural. Las posturas modernas del bienestar emergen a través de decisiones clave en el derecho del siglo diecinueve, que ayudan a explicar la elección entre tres posturas de bienestar: Kaldor y Hicks, Pareto, y un estándar más riguroso que requiere ganancias a pro rata entre todas las partes. Este ensayo utiliza un marco basado en los costos de transacciónpara explicar el despliegue estratégico de estas tres reglas.