銀行恐慌現象的探討一直都廣受研究金融危機與系統性風險等領域的經濟學者所青睞，而銀行擠兌潮更經常被視為導致銀行恐慌的主因之一。由於金融全球化已是時勢所趨，因此金融危機的蔓延更加受到學術界重視。Allen and Gale (2000)建構出不同型態的銀行同業拆借市場(Interbank market)，並以此為基礎進一步探討在最佳風險分攤的前提之下，銀行與消費者如何決定其投資與消費的最佳資源配置。 本文的基本架構係基於Allen and Gale (2000)所提出的經濟模型，配合存款保險制度的導入，嘗試驗證他們所提出的最佳資源配置是否仍然成立。而本文的結果證實政府實施存款保險制度，銀行與消費者仍然可以得到他們在投資與消費的最佳配置，即使在完美與不完美的銀行同業拆借市場，其結果仍然成立。另外本文也嘗試對存款保險制度是否能有效預防銀行恐慌與其蔓延作出驗證。其結果證實提高存款保險稅率後，銀行擠兌潮的發生需要較高的不可預期流動性需求。換言之，存款保險制度有效提高了銀行倒閉門檻。而對於預防透過銀行同業拆借市場所衍生的金融危機蔓延，存款保險制度的有效性也在本文中獲得證實。 然而存款保險制度並非具絕對優勢，過多則損害消費者的預期效用。因此本文將銀行倒閉風險機率納入模型，利用軟體模擬消費者預期效用極大化條件下的最適存款保險稅率。並且進一步證實，長期資產到期日清算與到期前清算，其兩者報酬率之間的利差愈大，存款保險最適稅率須同步增加，才能使消費者效用最大。另外我們也證實存款保險制度能夠提高社會福利水準與降低銀行倒閉風險。 / Bank panic serves as a favored subject for economists who engage in researches of financial crisis and systematic risk. Because financial liberalization and globaliza-tion have been inevitable, economic scholars have regarded financial contagion. Allen and Gale (2000) established different interbank market structures to achieve the first-best allocation of banks’ investment portfolio and depositors’ consumptions. In this paper, we try to confirm Allen and Gale’s first-best allocation when the deposit insurance is implemented, and we obtain the same consequence as well. Be-sides, we also approve that occurrence of a bank run must accompany by a high level of unexpected liquidity shock if the deposit insurance exists. In other words, it raises the threshold of bankruptcy. Therefore, the deposit insurance is feasible to avert bank panic. With regard to the contagion effect, the deposit insurance undoubtedly de-creases its negative influence because financial interdependence between different financial sectors will be attenuated by imposing a deposit-insurance tax on depositors. The deposit insurance, however, is not constantly superior due to the depositors’ loss in consuming utility. We achieve the optimal deposit-insurance tax rate by intro-ducing probability of bank’s bankruptcy, and find that the optimal tax rate may be raised, so as to boost consumers’ utility if return spread between early and late with-drawn long assets keeps higher. We also testify that the deposit insurance can enhance the social welfare and decrease the incidence of bankruptcy.

Massive sulfide deposits in the Noranda mining camp, northwestern Québec, are mainly associated with extensive footwall alteration defined by intense chloritization and sericitization. However, Fe-carbonate alteration also occurs in proximity to some deposits. To test the exploration significance of carbonate alteration in the camp, two areas of intense carbonate alteration were examined, around the small Delbridge deposit and near the new Pinkos occurrence in the Cyprus Rhyolite. Between 1969 and 1971, the Delbridge deposit produced 370,000 t of ore grading 9.6% Zn, 0.61% Cu, 110 g/t Ag, and 2.1 g/t Au. Recent drilling at the new Pinkos occurrence intersected 2.64 m of massive to semi-massive sulfides grading 8.1% Zn and 18.2 g/t Ag. Alteration mapping has shown that the distribution of Fe-carbonates can be used to identify vertically extensive zones of hydrothermal upflow at both properties. At Delbridge, intense Fe-carbonate alteration in brecciated rhyolite defines a pipe-like upflow zone that extends vertically for up to 300 m within the stratigraphic footwall of the massive sulfides and 100 m into the hanging wall. The location of known massive sulfide mineralization coincides with the intersection of the alteration pipe and a favorable horizon marked by the occurrence of fine-grained volcaniclastic rocks. At Pinkos, a similar zone of Fe-carbonate alteration occurs in outcrops of coherent rhyolite. Fe-carbonate alteration is most intensely developed along polygonal cooling fractures in massive rhyolite and decreases in intensity towards the centers of the columns. Fe-carbonate stringers and locally abundant matrix carbonate occur in fragmental rocks at the stratigraphic top of the coherent rhyolite flows and are most intense at the location of sulfide-bearing outcrops that mark the known mineralized horizon. Whereas Fe-carbonate alteration defines the central part of the hydrothermal upflow zones at both properties, disseminated pyrite occurs at the margins and is widespread outside the main upflow zones. This may indicate that Fe-carbonate in the main upflow zones formed at the expense of earlier disseminated sulfides. Replacement of pyrite by synvolcanic Fe-carbonate alteration at Delbridge and Pinkos can probably be attributed to a relatively high concentration of dissolved CO2, possibly of magmatic origin, in the main-stage ore-forming fluids.

Geologically-constrained inversion of geophysical data is a powerful method for predicting geology beneath cover. The process seeks 3D physical property models that are consistent with the geology and explain measured geophysical responses. The recovered models can guide mineral explorers to prospective host rocks, structures, alteration and mineralisation. This thesis provides a comprehensive analysis of how the University of British Columbia Geophysical Inversion Facility (UBC–GIF) gravity and magnetic inversions can be applied to subsurface mapping and exploration by demonstrating the necessary approach, data types, and typical results. The non-uniqueness of inversion demands that geological information be included. Commonly available geological data, including structural and physical property measurements, mapping, drilling, and 3D interpretations, can be translated into appropriate inversion constraints using tools developed herein. Surface information provides the greatest improvement in the reliability of recovered models; drilling information enhances resolution at depth. The process used to prepare inversions is as important as the geological constraints themselves. Use of a systematic workflow, as developed in this study, minimises any introduced ambiguity. Key steps include defining the problem, preparing the data, setting inversion parameters and developing geological constraints. Once reliable physical property models are recovered they must be interpreted in a geological context. Where alteration and mineralisation occupy significant volumes, the mineralogy associated with the physical properties can be identified; otherwise a lithological classification of the properties can be applied. This approach is used to develop predictive 3D lithological maps from geologically-constrained gravity and magnetic inversions at several scales in the Agnew-Wiluna greenstone belt in Australia’s Yilgarn Craton. These maps indicate a spatial correlation between thick mafic-ultramafic rock packages and gold deposit locations, suggesting a shared structural control. The maps also identify structural geometries and relationships consistent with the published regional tectonic framework. Geophysical inversion provides a framework into which geological and geophysical data sets can be integrated to produce a holistic prediction of the subsurface. The best possible result is one that cannot be dismissed as inconsistent with some piece of geological knowledge. Such a model can only be recovered by including all available geological knowledge using a consistent workflow process.

Elektriskt och elektroniskt avfall (WEEE) är den snabbast växande avfallskategorin inom EU, samtidigt som det är en av de mest skadliga formerna av avfall för människors hälsa och miljön om det inte samlas in och tas om hand på rätt sätt. Sverige påbörjade insamlingen av el-avfall 2001 och samlar idag in 16,27 kg el-avfall perperson vilket är av de högsta insamlingsnivåerna inom EU, men trots det slängs fortfarande smått el-avfall så som hushållsprodukter, mobiltelefoner och lågenergilampor i andra avfallsfraktioner. För att lösa detta problem talar man om behovet av ökad tillgänglighet på insamlingsplatser och information, men undersökningar av hushållsavfallets sammansättning visar att innehållet av el-avfall i stort sett är oförändrat, trots ökad tillgänglighet och information. De studier som ligger till grund för dagens förbättringsåtgärder har antingen tittat på insamlingssystemets brister utifrån ett nationellt perspektiv eller på effektiviteten av alternativa lokala insamlingssystem. Utifrån dessa har slutsatser dragits om allmänna brister och potentiella förbättringsåtgärder. Statistik visar samtidigt att insamlingen av el-avfall skiljer sig åt markant mellan olika platser i landet, och att somliga kommuner har förvånansvärt effektiva system jämfört med andra. Med hänsyn till detta så finns en uppenbar risk att dagens förbättringsåtgärder är suboptimala. Istället för att undersöka styrkor och svagheter med specifika insamlingssystem så studeras i denna uppsats skillnaderna mellan två svenska kommuner, en med hög och en med låg insamlingsnivå av diverse elektronik ochgasurladdningslampor, med syftet att skapa en bättre förståelse för vilka faktorer som bidrar till en effektiv insamling. Skillnaderna som studeras är tillgängligheten på insamlingsplatser och informationen i anslutning till dessa, kommunernas arbetsinsatser samt invånarnas kunskap, attityder och preferenser, uppgivna beteenden och subjektiva uppfattning om insamlingssystemens tillgänglighet och funktion. Vidare studeras även om kommuninvånarna informerats i enlighet med den lagstiftning som finns på området och vad invånarna har för attityder till, och preferenser kring, ett eventuellt pantsystem för lågenergilampor och smått el-avfall. Frågeställningarna studeras genom en kombination av intervjuer med nyckelpersoner, inventering av insamlingsplatser samt en enkätundersökning. Resultaten av studien visar att det finns skillnader på samtliga undersökta områden, med undantag för invånarnas kunskap. Av skillnaderna dras slutsatsen att det finns ett antal åtgärder som sannolikt skulle kunna öka insamlingen av el-avfall i Sverige. På lokal nivå kan sannolikt ett ökat kommunalt engagemang och arbete med frågan om el-avfall, i kombination med ökad tillgänglighet på insamlingsplatser samt god och välanpassad information i anslutning till dessa, öka insamlingen av el-avfall. På nationell nivå kan sannolikt en skärpt tillsyn som tvingar kommunerna att följa informationskravet i aktuell lagstiftning leda till en ökad medvetenhet bland svenska medborgare, vilket i sin tur sannolikt kan bidra till minskade mängder felsorterade lågenergilampor och smått el-avfall. Slutligen tycks ett eventuellt pantsystem för lågenergilampor och annat smått el-avfall vara ytterligare ett sätt att öka insamlingen. Studien tyder på att ett pantsystem skulle kunna öka människors benägenhet att lämna in dessa produkter till återvinning, minska mängden upplagrad elektronik i hemmen, erbjuda nya möjligheter vad gäller märkning och uppföljning av produkter samt potentiellt kunna minska insamlingskostnaderna. / Waste electrical and electronic equipment (WEEE) is the fastest growing waste stream within the EU, and at the same time of the most hazardous forms of waste, threatening both human health and the environment if not properly collected and treated. Sweden started a separate collection of WEEE in 2001, and with 16,27 kg of WEEE collected per person in 2011 it has one of the highest collection rates within the EU. Despite this, small WEEE is still ending up in all types of household waste. To solve this issue, the need for increased availability of collections points and information is frequently discussed, but despite improvements in these areas the content of WEEE in household waste remains relatively stable. The studies that make up the basis of today’s improvement work, have either been looking at shortcomings of the collection system from a national point of view, or on the effectiveness of alternative local collection systems. Based on these studies, conclusions about the general shortcomings of the system and potential ways of improvement have been drawn. At the same time, statistics show that the collection of WEEE differs substantially between different parts of Sweden, and that some municipalities have surprisingly efficient collection systems compared to others. With regard to his, current improvement strategies may not be optimal. Instead of looking at the strengths and weaknesses of specific collection systems, this study looks at the differences between two Swedish municipalities, one with a high and one with a low collection rate of small WEEE and compact fluorescent lamps, with the aim of creating a better understanding of factors that may contribute to high collection rates. The differences that are studied are the availability of collection points and the information in connection to these, the municipalities’ work and the resident’s knowledge, attitudes, preferences, subjective behavior and subjective perception of the collection system’s availability and functionality. Furthermore, the thesis examines whether the residents have been informed in accordance with European and national WEEE-legislation and what their attitudes and preferences are regarding a potential deposit system for small WEEE and compact fluorescent lamps. The results show that differences can be seen in all areas but the residents’ knowledge. From the observed differences, conclusions about possible ways of improving the collection of WEEE in Sweden are drawn. On a local level, increased municipal engagement and work efforts, in combination with increased access to collection points along with appropriate and well customized information in connection to these, is likely to increase the collection of WEEE. On a national level, increased supervision that forces municipalities to comply with the information requirements in European and national legislation, may lead to an increased awareness among Swedish citizens, which may in turn lead to a decrease in wrongly sorted small WEEE and compact fluorescent lamps. Finally, a potential deposit system for small WEEE and compact fluorescent lamps may be yet another way of increasing collection rates. The results suggest that a deposit system may in fact increase the motivation of citizens to recycle these products, decrease the amount of old electrical and electronic equipment currently stockpiled in private households, offer new possibilities to mark and track products and potentially lower the costs of collection. / <p>Granskare:</p><p>Lisa Dahlén, Universitetslektor vid Institutionen för samhällsbyggnad och naturresurser, avdelningen för Geovetenskap och miljöteknik, Luleå tekniska universitet*Lisa.Dahlen@ltu.se</p><p></p><p>Thesis evaluator:</p><p>Dahlén, Lisa, University Lector (Luleå University of Technology, Division of Geosciences and Environmental Engineering, Department of Civil, Environmental and Natural Resources Engineering)*Lisa.Dahlen@ltu.se</p>

Abstract This dissertation explores two interrelated aspects of banking crises and bank regulations in perspective of regulator¡¦s soft budget constraints (SBCs in brief) and bank top management compensation. First, this paper models, in a game of incomplete information, bank behavior during banking crises when asymmetric information exists between regulators and banks. Here, I show that the situation creates the incentives for banks to roll over their defaulting loans to disguise their financial statements. Although a prudential regulator may mitigate this incentive by offering a ¡§slack¡¨ rescue packages, the bank¡¦s reputational concern may cause them to reject rescue offers. In this instance, regulators may be forced to offer amounts of recapitalization that will meet the amount necessary to restore banks to solvency. Otherwise, banks may have to gamble for resurrection, or wait until the banking crises become severe, and then more banks become insolvent, regulators have to offer optimal rescue packages subject to SBCs. New findings include (1) During banking crises, the optimal regulatory policies, on the one hand, may cause regulators have to offer rescue or bailout packages subject to different SBCs, on the other hand, mitigate banker¡¦s moral hazard. The more severe the crises will be, the greater soft budget constrained to regulators. (2) The potential severity of banking crises can be measured by the ratios, getting from net worth over the total amount of recapitalization offered by regulators and recovered from nonperforming loans. (3) As banking crises become severe, the cost of rescue becomes larger than that of bailout, the best regulatory policy is to intervene; On the contrary, if a situation labeled ¡§ too-many-to-fail¡¨ arises, the regulators may offer to rescue distressed banks subject to SBC. (4)As Bayesian equilibrium cost of regulator in crises is increasing, a random creative ambiguity for regulators to offer bailout or rescue plans may be the optimal policy to mitigate the expectation of SBC for banks . Second, this paper also shows that in the circumstances of universal banking or bank holding company, concentrating bank regulation on bank capital ratios and risk-based deposit insurance may be ineffective in controlling banker¡¦s risk-taking and moral hazard. Here, this paper follows, a more direct mechanism of influencing bank risk-taking incentives, in which the insurance premium scheme incorporate features of top management compensation. In a model of universal banking with two-periods and three-subsidiaries or departments, bank owner pre-commits to regulators to pick an optimal management compensation structure that induces the first-best value-maximizing investment choices by a bank¡¦s management. Findings include (1) If insurance premium is not fairly priced, the incentives are created for banks to have a ¡§regulatory arbitrage¡¨ by segregating its nonperforming assets from the investment bank, and shift it to the commercial bank, that increases the deposit-insurer an additional risk liability, and aggravates the risk-shifting within the universal bank; and vice versa. (2) Given management contracts{ fixed salary, a bonus paid, a fraction of equity of the bank} and { fixed salary, a penalty , a fraction of equity}for bank and security investment department respectively ; and a capitalization level corresponding must exceed the lower risky investment outcome , here bonus paid larger than 0, a penalty larger than 0, a fraction of equity between 0 and 1, then the investment policies implemented by managers, is less risky than when manger¡¦s interests are fully aligned with the equity interests. (3) Given a fairly priced insurance premium, and capitalization level corresponding must exceed the lower risky investment outcome, then the optimal management compensation structure can internalize the cost of moral hazard and induce the Pareto-optimal and department-equilibrium investment policies, thus mitigate moral hazard under universal banking. Finally, the state-owned and half-state-owned banks have experienced the institution-induced ineffectiveness; and the latter suffer from poor business performance level, partially because of the issues of ownership structure. This paper shows the investment policy with moral hazard under these banks incorporated with optimal compensation structures, and given capitalization level corresponding must exceed the lower risky investment outcome, then the optimal policies induced, that will improve their business performance level. This paper also shows that as the controlling shareholders have power over banks in excess of their cash flow rights, the incentives will be created for them to expropriate the minority shareholders. And, when the incentives for expropriation exists, the investment policy will be distorted with the managerial bias induced by their private benefits, and deteriorate morale of the banks. The regulatory mandatory requirements of one-share-one-vote principle may be proposed, instead.

In this study, we focus on pricing and production decisions in reusable container systems with stochastic demand. We consider a producer that sells a single product to the customers in reusable containers with two supply options: (i) brand-new containers, (ii) returned containers from customers. Customers purchasing the products may return the containers to the producer to receive a deposit price. The return quantity depends on both customer demand and the deposit price determined by the producer. Hence, the producer has the opportunity to manipulate the return quantity via the deposit price. The unit cost of filling brand-new containers is different than the unit cost of refilling returned containers. We also consider resource restrictions on the production operations. Our setting represents certain hybrid manufacturing / remanufacturing systems where (i) the producer collects and recovers his own products, (ii) the producer supplies both brand-new and recovered products to his customers, and (iii) the customers are indierent between brand-new and recovered products. In this setting, we investigate the optimal pricing and production decisions in order to maximize the producer`s profit. Our approach utilizes non-linear optimization techniques. We characterize the optimal acquisition fee and the optimal order quantity of brand-new containers analytically and investigate the effect of parameters with an extensive computational study.

ABSTRACT Human capital comprises not only man power but also brain power which implies people¡¦s intelligence, potentiality, intellect¡K.etc. Nowadays the world has been getting into the new era of knowledge economy; and the competency of brain power instead of financial capital, land, facility/equipment becomes the core element of competition among enterprises. In this context, human capital in organizations is considered as the valuable assets, which are critically influential and significant. Organizations aiming at best performance admit the vital importance of the innovation and make every endeavor to maintain their competitive strengths and advantages by means of innovative management to achieve the goal of organizational innovations. The thesis focuses on the correlation between human capital and organizational innovation, in conjunction with organizational characteristics and industrial environment which might interfere with the correlation. After empirical study & statistical analysis, the thesis reveals as following: I. Five dimensions of human capital in organizations--- 1. Top management¡¦s knowledgeable & visionary leadership; 2. Employees¡¦ enterpreneurship & innovativeness; 3. Rejuvenesce of human capital; 4. Upgrading of human capital; 5. Deposit of human capital II. Differenciation analysis on the five dimensions of human capital by organizational characteristics--- 1. The organizations in various industries indicate slightly obvious differentiation in the upgrading degrees of human capital; in comparison, the organizations in service industry invest more in employees¡¦ training & cultivation than those in manufacturing industry. 2. The organizations with bigger capital amounts obviously put much more emphasis on rejuvenesce as well as deposit of human capital. 3. The organizations in the maturity period of life cycle comparatively concentrate much more of their attention on deposit of human capital; whereas those in the growing period of life cycle emphasize much more on upgrading human capital. 4. Over-20-years-old organizations lay much more emphasis on deposit of human capital than those at the ages less than 15 years. III. Human capital¡¦s direct influence on organizational innovation--- Top management¡¦s knowledgeable & visionary leadership exerts obviously positive effect on the innovation of management as well as technique. IV. The interaction of organizational characteristics and human capital has obviously positive effect on the organizational innovation--- 1. The interaction of the ages of the organization and rejuvenesce of human capital has obviously positive effect on the innovation of management. 2. The interaction of the capital amount of the organization and top management¡¦s knowledgeable & visionary leadership has obviously positive effect on the innovation of management. Key words: human capital, organizational innovation, top management¡¦s knowledgeable & visionary leadership, employees¡¦ enterpreneurship & innovativeness, rejuvenesce of human capital, upgrading of human capital, deposit of human capital

<p>Diss. (sammanfattning) Umeå : Umeå universitet, 1993, härtill 7 uppsatser.</p> / digitalisering@umu

Legal deposit and its sustainability is a major problem that cannot be ignored in South Africa. The value of preserving and making accessible information is of primary importance for legal deposit collections. The concept of legal deposit is evolving from decade to decade as many factors continue to influence it. Among the challenges facing legal deposit libraries is the problem of publishers failing to comply with legal deposit requirements. This study investigated the problems and constraints experienced by publishers in KwaZulu- Natal concerning legal deposit. Thirty five publishers were surveyed by means of a selfadministered questionnaire which utilized both open and closed questions. The results of the study reveal that while the vast majority of publishers in KwaZulu-Natal are compliant with legal deposit requirements, they do experience a number of problems while doing so. These problems include financial costs and time constraints while a lack of knowledge about certain aspects of legal deposit on the part of the publishers was evident. Recommendations, which would require participation from all the stakeholders, to address the problems identified were made. The study concluded with suggestions for further research. / Thesis (M.I.S.)-University of KwaZulu-Natal, Pietermaritzburg, 2005.

Geologically-constrained inversion of geophysical data is a powerful method for predicting geology beneath cover. The process seeks 3D physical property models that are consistent with the geology and explain measured geophysical responses. The recovered models can guide mineral explorers to prospective host rocks, structures, alteration and mineralisation. This thesis provides a comprehensive analysis of how the University of British Columbia Geophysical Inversion Facility (UBC–GIF) gravity and magnetic inversions can be applied to subsurface mapping and exploration by demonstrating the necessary approach, data types, and typical results. The non-uniqueness of inversion demands that geological information be included. Commonly available geological data, including structural and physical property measurements, mapping, drilling, and 3D interpretations, can be translated into appropriate inversion constraints using tools developed herein. Surface information provides the greatest improvement in the reliability of recovered models; drilling information enhances resolution at depth. The process used to prepare inversions is as important as the geological constraints themselves. Use of a systematic workflow, as developed in this study, minimises any introduced ambiguity. Key steps include defining the problem, preparing the data, setting inversion parameters and developing geological constraints. Once reliable physical property models are recovered they must be interpreted in a geological context. Where alteration and mineralisation occupy significant volumes, the mineralogy associated with the physical properties can be identified; otherwise a lithological classification of the properties can be applied. This approach is used to develop predictive 3D lithological maps from geologically-constrained gravity and magnetic inversions at several scales in the Agnew-Wiluna greenstone belt in Australia’s Yilgarn Craton. These maps indicate a spatial correlation between thick mafic-ultramafic rock packages and gold deposit locations, suggesting a shared structural control. The maps also identify structural geometries and relationships consistent with the published regional tectonic framework. Geophysical inversion provides a framework into which geological and geophysical data sets can be integrated to produce a holistic prediction of the subsurface. The best possible result is one that cannot be dismissed as inconsistent with some piece of geological knowledge. Such a model can only be recovered by including all available geological knowledge using a consistent workflow process.