Global ETD Search

221	Essays on the behavior and regulation of insiders Sureda Gomila, Antoni 28 October 2010 (has links) This thesis consists of three essays on the behavior of corporate insiders and the optimal regulation of insider trading. The first of these three essays examines the welfare effects of insider trading and its attributes as an executive compensation mechanism; in addition, an optimal regulation of insider trading in the light of the model is proposed. The second essay analyzes another facet of insider trading: whether insiders can be a source of liquidity and act as traders of last resort on their companies' stock; moreover, the effects of transactions by insiders and by the company itself on the distribution of stocks returns are compared empirically. Finally, the topic of the third essays is the dynamics of insiders' holdings, and how these dynamics are a function of the number of large shareholders in the firm; the conclusions are empirically tested for Real Estate Investment Trusts.Aquesta tesi conté tres assajos sobre el comportament dels agents corporatius y la regulació de la compravenda d'accions amb informació privilegiada. El primer examina l'efecte de la negociació amb informació privilegiada y la seva utilitat com a mecanisme de compensació; es proposa una regulació de la negociació amb informació privilegiada. El segon assaig analitza si els agents corporatius són una font de liquiditat y actuen com a comerciants d'últim recurs per a les accions de la seva companyia; també es comparen empíricament els efectes de la negociació per part dels actors corporatius amb els de la negociació per part de les mateixes empreses en la distribució dels rendiments de les accions. L'últim assaig estudia la dinàmica de les carteres d'aquest actors en accions de les seves pròpies empreses, i com aquesta dinàmica es funció del nombre d'actors corporatius a l'empresa; les conclusions es testegen empíricament per a fons d'inversió immobiliària. remuneració d'executius problema d'agència. REITs negociació amb informació privilegiada liquiditat efecte Hirshleifer dinàmica de la composició accionarial benestar autocorrelació welfare skewness short-horizon variance REITs ownership dynamics moral hazard liquidity insider trading Hirshleifer effect executive compensation autocorrelation agency problem risc moral skewness variància a un horitzó curt 33
222	Determinants for the effective provision of public goods by honduran hometown associations in the United States: the Garífuna case Zavala, Carlos Gustavo Villela January 2006 (has links) Magister Artium - MA / The study concludes that the existence of HTAs in the USA is explained by the socially enforced institution of the hijos del pueblo (sons of the town) having a duty to help their hometowns, as well as the private benefits of preserving Garífuna traditions and the possibility of helping repatriate dead immigrants. Fulfilling this duty (and the consequent prestige attained) provides the incentives to send CRs home. In the cases studied, CRs were used to partly finance potable water projects, electricity projects, road paving, a community centre and the construction of a Catholic temple. In most of the cases HTAs worked with a local development organisation, known as Patronato, which formed specific committees for executing projects, for example the water and the electricity committees. For the construction of the temple, a religious organisation known as Pastoral was the local partner. The term Collective Remittances (CRs) refers to the money sent by migrant associations, known as Hometown Associations (HTAs), to Community-Based Organisations (CBOs) in their hometowns for financing public works projects. Few cases of CR are known in Honduras. The only ones reported are among the Garífunaethnic group living on the Caribbean Coast, and with a large migrant community in New York City (NYC). This mini-master’s thesis is the first study written on CRs in Honduras. It studies CR experiences in four Garífuna hometowns and their corresponding HTAs in NYC. It answers three questions: How do CRs work in each case? What are the determinants for HTAs to provide CRs to the hometowns? And what are the determinants for local CBOs in the hometowns to use the CRs effectively to provide public goods in the hometowns? CR is conceptualised as a that chooses which local group and project to finance, and the local CBO, which is the agent Migration Honduras United States of America Garífuna Morenales Remittances Collective remittances Hometown associations Community-based development Community-based organisations Patronatos Public goods New institutional economics Institutions Transaction costs Bounded rationality Information asymmetry Contracts Implicit contracts Agency Incentives Principal-agent approach Principal Agent Information economics Search and information costs Monitoring costs Opportunism Adverse selection Moral hazard Hidden action Effectiveness
223	La rémunération des hauts dirigeants en droit des sociétés par actions : le rôle et les limites du droit Grotino, Frédéric 04 1900 (has links) No description available. Aléa moral Devoirs des administrateurs Droit des sociétés par actions Éthique appliquée Éthique de la coopération Gouvernance d’entreprise Normes de conduite Normes sociales Participation actionnariale Pratiques exemplaires Régime de rémunération Théories de l’entreprise Applied ethics Best practices Corporate law Directors’ fiduciary duties Ethics of cooperation Executive compensation Corporate governance Moral hazard Norms of exemplary behaviour Shareholders engagement Social norms Theories of the firm
224	中小企業如何在與國際大廠的競爭下,進入新市場之策略---以A公司切入大陸風電複合材料行業為例 / The new market entry strategy for a small / medium enterprise to compete with international enterprises --- example: A company penetrates into (composites solution for) China Wind Energy Industry 林雍堯, Yung Yao Lin Unknown Date (has links) 本研究是以中國大陸從2005 年到2010年的風力發電之複合材料葉片產業為背景，討論A公司如何從其原來所屬的防腐蝕複合材料行業，跨入一個完全不同應用的風力葉片複合材料行業。於產業進入過程中，有三家迥然不同規模、屬性、企業文化的企業，於過去數年在大陸市場的競爭為研究範疇。而在這一市場中依其資本來源，可概分為外資、國企與民企三大類，而因著資本來源不同導致其管理團隊與決策模式，有著極大的差異，因此對交易過程的四種成本亦有相當大的認知與評價差異。而這三家競爭廠商於面對不同客戶屬性時，如何依據其個別公司的不同市場地位、公司資源與技術能量，而採行的市場競爭策略。 A公司於競爭初期，利用其既有的品牌知名度、人脈與通路，以降低C2為第一要務，而後利用C2在地優勢與國際原料大廠建立策略聯盟，產生C1的競爭優勢。進一步利用C1優勢降低客戶C3，隨著個案的增加，增強與上游供應鏈的談判力量，再回頭去強化C1的競爭優勢，以本研究所處的市場，所有的競爭最後都還是回到C1的競爭。並對未來的發展提出如何增強各個成本構面的建議，與提升公司淨利的建議。 / The background of this study is based on the wind blade industry of wind turbine from year 2005 till year 2010 in mainland China. We try to analysis how the company A crosses into an entire new industry – wind blade composites from their original anti-corrosion application. And the scope of this study based on these three enterprises with complete different scales, categories and cultures how to compete in mainland China wind blade composites industry in the past 5 years. We may distinguish those customers into three types based on their different capital compose: foreign enterprise, state own company and private company. Due to the different capital compose, it cause quite obvious difference between the business philosophy of the management team and decision model. It also caused huge difference in recognition and evaluation of four kinds of transaction cost. Those three major suppliers how to take different compete strategies when they are facing different customer attributes based on their own corporate market position, company resources and technology. At the very beginning stage, company A leverages its original brand name, connections and channels in composites industry to lower its C2 as first priority. And then company A tries to build the strategic alliances with those global material suppliers to create the compettive advantage of C1. The further step is to reduce customers’ C3 through its C1 advantage. The more customers company A gets, the more bargain power she has with her supplier chain and then she could strengthen her own C1 competitive strength. The most fundamental competition is always backing to C1 competition in wind blade composite section of wind energy industry in China. 中小企業新市場策略策略行銷4C理論外顯單位效益成本資訊搜尋成本道德危機成本專屬陷入成本 Small and medium-sized enterprises, New market strategy Marketing 4C theory, transaction cost Buyer Cost / Buyer Utility Moral Hazard Cost Asset Invest Cost Information Search Cost

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