Este trabalho propôs-se a responder se existem indícios suficientes para se afirmar que os bancos comerciais no Brasil praticam alguma modalidade de gerenciamento de resultados. Para tanto, foi verificado se os bancos comerciais selecionados - instituições líderes dos vinte maiores conglomerados bancários brasileiros - utilizaram os ágios em investimentos em controladas e coligadas, as operações com títulos e valores mobiliários, as provisões para operações de crédito ou os passivos contingentes para gerenciar seus resultados. Dois dos três bancos que possuíam ágios em investimentos em controladas e coligadas efetivamente utilizaram sua amortização para gerenciar seus resultados. Cinqüenta e cinco por cento dos bancos selecionados utilizaram a classificação dos títulos e valores mobiliários para praticar o gerenciamento de resultados. Com relação à provisão para operações de crédito, seis bancos usaram-na para gerenciar seus resultados, outros seis bancos não a usaram e para cinco bancos os resultados foram inconclusivos. Os resultados também foram inconclusivos para os passivos contingentes. / This thesis purpose is to detect if there are enough signs to assure that Brazilian commercial banks practice any kind of earnings management. For that, it was checked if the selected Brazilian commercial banks - leader institutions of the twenty biggest Brazilian banking conglomerates - used goodwill on acquisitions of subsidiary companies, securities classification, loan loss provisions or contingent and legal liabilities to practice earnings management. Two of three banks that had goodwill on acquisitions of subsidiary companies effectively used its amortization to manage the banks results. Fifty-five percent of the selected banks did use securities classification to practice earnings management. Regarding the loan loss provisions, six banks used them to manage results, other six banks did not use them to manage results and for five banks the results were inconclusive. The results were also inconclusive for contingent and legal liabilities provisions.

Thesis advisor: Peter N. Ireland / The banking structure as it is known today in the United States largely originated in the 1930s after the onslaught of the Great Depression. The Federal Deposit Insurance Company developed deposit insurance to stabilize the industry and protect consumers. They laid down rules and regulations that shaped the banking and financial sector of the American economy into the early form of what patrons use today. Large banks were concentrated in financial centers, mostly New York, with some scattered in the west coast and other big cities. Most smaller towns had one or two state-chartered commercial banks with thrift institutions flourishing alongside. Personal and even business customers banked on a small, local scale. Sixty plus years later, the same industry structure is still in place, but its face has changed dramatically. The financial system of the United States in the 21st century is vastly different from the one that was commonly used only one generation ago. Geographic deregulation in the 1970s drastically changed the geography of the American banking industry. / Thesis (BA) — Boston College, 2006. / Submitted to: Boston College. College of Arts and Sciences. / Discipline: Economics Honors Program.

« Kem », « sôcôla », « actisô », « sơ mi », « cà ra vát », « cao su », « buýt », « ampli », « xăng », « xi măng », etc.. Ces mots vietnamiens sonnent-ils plus ou moins français ? Une partie du lexique de la langue vietnamienne vient du français qui a marqué le Vietnam de sa présence par la colonisation française durant environ un siècle (XVIIIe-XIXe) en Indochine en général et au Vietnam en particulier. Aujourd’hui, le régime colonial relève d’ouvrages historiques mais ces traces francophones perdurent encore dans les usages linguistiques actuels au Vietnam. Toutefois, ces ressources sociolinguistiques, qui ouvrent un riche potentiel en matière linguistique et culturelle, sont ignorées en didactique du français aux apprenants vietnamiens. Dans le but de vérifier l’importance de ces éléments, notamment à travers leur perception sociale par les Vietnamiens à l’heure actuelle, une enquête sociolinguistique a été réalisée sur le terrain. Les propositions didactiques présentées par la suite permettent de confirmer que la mise en avant de ces ressources francophones ou d’origine francophone au Vietnam constitue un facilitateur d’appropriation du français dans ce pays et ouvre vers une dynamique didactique plurilingue. / « Kem », « sôcôla », « actisô », « sơ mi », « cà ra vát », « cao su », « buýt », « ampli », « xăng », « xi măng », etc.. These Vietnamese words sound more or less French ? A part of vocabulary of the Vietnamese language comes from French which marked Vietnam from its presence by the French colonization for about a century (XVIII-XIX) in Indochina in general and in Vietnam in particular. Today, the colonial regime raise from history books but these French traces persist still in actual linguistic uses in Vietnam. However, these sociolinguistic resources, opening a rich potential for linguistic and cultural material, are ignored in teaching French to Vietnamese learners. In order to verify the importance of these elements, particularly through their social perception by the Vietnamese currently, a sociolinguistic survey was conducted in the field. Didactic proposals then presented permit to confirm that the highlighting of these French or French origin resources in Vietnam is a facilitator of appropriation of French in this country and opens to a dynamic multilingual didactic

This thesis makes two main contributions to the literature. The first is to establish the existence of a capital supply channel, in particular a bank lending channel of monetary policy transmission in the UK using a clean measure of bank loan supply. In this study we exploit the revealed debt preferences of debt issuing firms by using the Becker and Ivashina (2014) fixed effects framework to isolate the impact of credit supply. By conditioning the sample on non-financial firms whose debt issuance is observed, we are able to eliminate the effects of credit demand and to isolate a clean measure for bank loan supply. In this thesis, we find that the tendency by unconstrained, non-financial firms to substitute corporate bonds for bank loans at different points of the financial cycle reflects changes in bank loan supply. We also find that the patterns of substitutability are consistent among more granular classifications of heterogeneous debt. Our results reveal that among unconstrained firms, the proportion of new bank loan issuance declines, while the proportions of corporate bonds and program debt issuance tend to increase, when faced with unfavourable credit market conditions. We then create a loan to bond substitution measure based on observed substitution behaviour of unconstrained firms. We find that this measure explains the out of sample bank loan issuance behaviour of constrained firms. As a result we conclude that the measure is able to cleanly capture changes in bank loan supply. We extend the study to examine the impact of bank loan supply on the financing, hiring and investment decisions of UK non-financial corporations. We find that bank loan supply disruptions significantly and disproportionately affect the hiring and inventory investment decisions of bank dependent firms relative to those of non-bank dependent firms. The propensity to invest or hire among bank dependent UK non-financial firms declines relative to non-bank dependent firms when bank loan supply deteriorates. Moreover, the fixed investment decisions of non-bank dependent firms tend to decline following adverse bank loan supply shocks. These results confirm the existence of a bank lending channel among UK non-financial firms, and the findings are in line with the narrow credit view of monetary policy transmission. Our second central contribution is to analyse the impact of orthogonal QE shocks, credit supply shocks, credit demand shocks, and monetary policy shocks on the aggregate debt issuance behaviour of UK non-financial firms. Using structural vector error correction models (SVECM), we show that QE shocks increase corporate bond issuance and compress term spreads, but have no effect on the policy rate. Moreover, we observe that unexpected increases in the monetary policy rate lead to a decline in corporate bonds in the short term. While credit supply shocks move aggregate bank lending and aggregate corporate bond issuance in the same direction, corporate bond issuance responds with a lag to fluctuation in credit supply. This implies that adverse credit supply shocks may produce amplified negative effects on capital supply as both corporate bonds and bank loan decline. We also establish a counterfactual for corporate bonds and bank loan issues based on our structural model. We find that the QE policies result in the Bank of England averting a decline in corporate bond issuance of between 3% and 10% during the QE period. Our findings in this thesis point towards the existence of a portfolio balance channel of QE that operates in the UK corporate bond markets during the QE period.

This thesis focuses on analyzing the development of mortgage loans which were provided by Czech households. The first chapter is devoted to the theory of mortgage loans and their basic characteristics. In the second chapter I focus on credit risk. Its management, monitoring and reduction methods. The third chapter includes the causes of debt and the amount of elemental analysis based on macroeconomic variables of mortgage loans (mortgage loan rate, GDP, inflation, unemployment, gross wage). Proof of this dependence is part of the last chapter using regression and correlation analysis.

This thesis deals with different methods of funding of fixed assets. The main aim of the study is to provide a general overview of the given types of funding and their comparison, either from a qualitative or a quantitative perspective. The application section focuses on linking the general section with a real-life situation, for a better illustration of the overall problem and to determine which of these types of funding is most advantageous for the analyzed company (Diakonie Broumov). Emphasis is placed primarily on factors influencing investment decisions in acquisition of vehicles. To compare effectiveness of various methods of funding the method of discounted costs is used.

This thesis analysis the parallel between Japan crises in the 90s and the recent financial crisis, which originated in the United States in 2007. A significant part is devoted to analyzing the root causes of the emergence of the Japan crisis and recent financial crisis. Practical part will focus on analysis of economic cycles of these crises, analysis of price behavior on stock and property market, and finaly on analysis of impact of impact of measures taken on subsequent economic development. Conclusion will seek to answer the question whether the United States expect the same economic development as Japan in the nineties.

The theme of the dissertation is the private rate of return to educational Investments in tertiary sector. The topic of the research is the impact of the tuition fees on this indicator, including considering the possibility to finance additional costs of the student by the new state loan product. There is introduced the current state of theory and done the SWOT analysis of needs of the education system in the Czech Republic. It is done calculation of private student rate of return to investment into tertiary education and made practical verification of the possibility of using new bank loan product as a source for funding of additional costs for financing of student fees.

The main goal of this work is to analyze progression of mortgages in Czech Republic at start and process of financial crisis, from the first half of the year 2007 till now. The work contains not only the basic informations of mortgages, but it also includes the list of two sections of criteria. The first section is about, what parameters banks demand of their clients and the second one is about, what the main reasons of client are in the choosing of their required banking-house. Development of these criteria in the period of financial crisis is analyzed in the second part of the work. In this part, there are described changes during the financial crisis and comparison with other countries. At the conclusion, the work evaluates present situation at financial market, how it change during the financial crisis and view into the future.

Este trabalho propôs-se a responder se existem indícios suficientes para se afirmar que os bancos comerciais no Brasil praticam alguma modalidade de gerenciamento de resultados. Para tanto, foi verificado se os bancos comerciais selecionados - instituições líderes dos vinte maiores conglomerados bancários brasileiros - utilizaram os ágios em investimentos em controladas e coligadas, as operações com títulos e valores mobiliários, as provisões para operações de crédito ou os passivos contingentes para gerenciar seus resultados. Dois dos três bancos que possuíam ágios em investimentos em controladas e coligadas efetivamente utilizaram sua amortização para gerenciar seus resultados. Cinqüenta e cinco por cento dos bancos selecionados utilizaram a classificação dos títulos e valores mobiliários para praticar o gerenciamento de resultados. Com relação à provisão para operações de crédito, seis bancos usaram-na para gerenciar seus resultados, outros seis bancos não a usaram e para cinco bancos os resultados foram inconclusivos. Os resultados também foram inconclusivos para os passivos contingentes. / This thesis purpose is to detect if there are enough signs to assure that Brazilian commercial banks practice any kind of earnings management. For that, it was checked if the selected Brazilian commercial banks - leader institutions of the twenty biggest Brazilian banking conglomerates - used goodwill on acquisitions of subsidiary companies, securities classification, loan loss provisions or contingent and legal liabilities to practice earnings management. Two of three banks that had goodwill on acquisitions of subsidiary companies effectively used its amortization to manage the banks results. Fifty-five percent of the selected banks did use securities classification to practice earnings management. Regarding the loan loss provisions, six banks used them to manage results, other six banks did not use them to manage results and for five banks the results were inconclusive. The results were also inconclusive for contingent and legal liabilities provisions.