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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
451

Repatriation-returning home and adjusting : A qualitative study of the repatriation process in three Swedish multinational corporations

Farhana, Saraj, Al-ammar, Nedda January 2019 (has links)
In order to stay competitive in the market, multinational corporations (MNC) need to expand their businesses in the international market. Sending employees to work abroad is a great way of expanding. However, having employees working abroad, brings a lot of advantages for the corporation, but it can also be a disadvantage for the corporation if the final step of international assignments, which is the repatriation process, has not been handled correctly. This thesis investigates how the managers of IKEA, Electrolux and SEB handle the repatriation process and how the repatriates experienced the process, during their pre-return period and post-return period. Our findings show that the repatriates experienced that the repatriation process was poorly conducted by the corporations due to lack of engagement from their side. On the other hand, managers of the companies felt that they handled the repatriation process very well. Therefore, it is essential that corporations prepare the employees well, before they start the international assignments, as well as help them to readjusting back in the home country. Working with practical expectations may lead to a smooth adjustment, which in turn, leads to a well-functioning repatriation process.
452

The impact of takeovers on the wealth of shareholders of bidding firms: the Hong Kong experience.

January 1994 (has links)
by Ko Shuk Yin, Yim Kok Man. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1994. / Includes bibliographical references (leaves [39-41]). / ACKNOWLEDGEMENTS --- p.i / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / Chapter / Chapter I. --- INTRODUCTION AND OBJECTIVE --- p.1 / Introduction --- p.1 / Objective --- p.2 / Chapter II. --- LITERATURE REVIEW --- p.4 / Rationale for Takeovers --- p.4 / From the shareholders' standpoint --- p.4 / From the managers' standpoint --- p.7 / Empirical Literature Review --- p.9 / Overview --- p.9 / Target Firm Stockholder Returns --- p.12 / Bidding Firm Stockholder Returns --- p.13 / Chapter III. --- METHODOLOGY --- p.16 / Data --- p.16 / Hypothesis To Be Tested --- p.17 / Methodology --- p.17 / Chapter IV. --- EMPIRICAL RESULTS --- p.21 / An Overview --- p.21 / Interpretation --- p.24 / Stock price movement --- p.24 / Information leakage --- p.27 / Hubris hypothesis --- p.27 / Mode of payment --- p.28 / Number of bidders --- p.29 / Chapter V. --- LIMITATIONS AND RECOMMENDATIONS --- p.30 / Limitations --- p.30 / Recommendations --- p.31 / APPENDICES / BIBLIOGRAPHY
453

Ranking of listed companies in Hong Kong using MVA (market value added).

January 1993 (has links)
by Tse Wai Wing. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1993. / Includes bibliographical references (leaves 82). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / LIST OF TABLES --- p.v / ACKNOWLEDGEMENTS --- p.vi / Chapter / Chapter I. --- INTRODUCTION / Scope and Objective of Study --- p.1 / Methodology --- p.3 / Review of Past Research --- p.4 / Plan of the Report --- p.5 / Chapter II. --- OVERVIEW OF VALUATION METHODS / Earnings Per Share --- p.6 / Earnings Growth --- p.7 / Return On Investment --- p.7 / Return On Equity --- p.7 / Return On Equity Spread --- p.8 / Chapter III. --- RESEARCH METHODOLOGY / Introduction --- p.10 / Economic Value Added --- p.11 / Market Value Added --- p.15 / Cost of Capital --- p.16 / Valuation Process --- p.20 / Assumptions and Limitations --- p.22 / Chapter IV. --- ANALYSIS OF FINDINGS / Cost of Capital --- p.24 / MVA Rank --- p.28 / Regression Analysis of MVA Vs Other Measures --- p.40 / Predictability of Performance of MVA --- p.41 / Chapter V. --- CONCLUSIONS --- p.44 / APPENDIX / Calculation of MVA and EVA --- p.46 / BIBLIOGRAPHY --- p.82
454

A Study on the size anomaly in the Hong Kong stock market and its relation to seasonality.

January 1992 (has links)
by Mok, Wai Man Ronald. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1992. / Includes bibliographical references (leaves 59-63). / ABSTRACT --- p.ii / ACKNOWLEDGEMENTS --- p.iii / TABLE OF CONTENTS --- p.iv / LIST OF FIGURES --- p.vi / LIST OF TABLES --- p.vii / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Chapter 1.1 --- Firm Size Effect --- p.2 / Chapter 1.2 --- Hong Kong Situation --- p.3 / Chapter 1.3 --- Outline of the Research Report --- p.4 / Chapter II. --- LITERATURE REVIEW --- p.5 / Chapter 2.1 --- The Size Effect as a Statistical Artifact --- p.6 / Chapter 2.2 --- Further Characterization of the Size Effect --- p.11 / Chapter 2.3 --- Economic Explanations for the Size Effect --- p.12 / Chapter 2.3.1 --- Tax Effects --- p.12 / Chapter 2.3.2 --- International Evidence on Tax Effects --- p.13 / Chapter 2.3.3 --- Transaction Costs --- p.16 / Chapter 2.3.4 --- Ownership Structure --- p.17 / Chapter 2.3.5 --- Other modifications of the CAPM --- p.18 / Chapter III. --- OVERVIEW OF THE HONG KONG STOCK MARKET --- p.19 / Chapter IV. --- RESEARCH OBJECTIVES AND THEORETICAL FRAMEWORK --- p.21 / Chapter 4.1 --- Research Objectives --- p.21 / Chapter 4.2 --- Theoretical Framework --- p.22 / Chapter 4.2.1 --- Capital Asset Pricing Model (CAPM) --- p.22 / Chapter 4.2.2 --- Assumptions of CAPM --- p.23 / Chapter 4.2.3 --- Suitability of the Model --- p.23 / Chapter V. --- SAMPLE DATA AND METHODOLOGY --- p.25 / Chapter 5.1 --- Sample Data --- p.25 / Chapter 5.1.1 --- Data Sources --- p.25 / Chapter 5.1.2 --- Sample Period --- p.25 / Chapter 5.1.3 --- Sample Selection --- p.26 / Chapter 5.1.4 --- Market Index --- p.26 / Chapter 5.2 --- Methodology --- p.27 / Chapter 5.2.1 --- Portfolio Construction --- p.27 / Chapter 5.2.2 --- Raw Return --- p.28 / Chapter 5.2.3 --- Excess Return --- p.30 / Chapter 5.2.4 --- Excess Return Adjusted for Infrequent Trading --- p.31 / Chapter 5.2.5 --- Seasonality --- p.32 / Chapter VI. --- EMPIRICAL RESULTS & ANALYSIS --- p.34 / Chapter 6.1 --- Raw Returns --- p.34 / Chapter 6.2 --- Excess Returns --- p.36 / Chapter 6.3 --- Excess Returns Adjusted for Infrequent Trading --- p.42 / Chapter 6.4 --- Seasonality --- p.46 / Chapter 6.4.1 --- Raw Returns --- p.46 / Chapter 6.4.2 --- Excess Returns --- p.48 / Chapter 6.4.3 --- Excess Returns Adjusted for Infrequent Trading --- p.51 / Chapter VII. --- IMPLICATION OF FINDINGS AND CONCLUSION --- p.54 / APPENDIX 1 List of Companies of the Five Portfolios --- p.57 / APPENDIX 2 Average Market Value of Companies of the Five Portfolios --- p.58 / BIBLIOGRAPHY --- p.59
455

The Relationship between PE ratios & firm sizes and abnormal returns of Hong Kong stocks, 1990-1991.

January 1992 (has links)
by Chu Yee-Mon & Ku Wan-Shim. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1992. / Includes bibliographical references (leaves 40-41). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / LIST OF TABLES --- p.v / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- BACKGROUND AND LITERATURE SEARCH / Price earnings ratio anomaly --- p.3 / Over-reaction to earnings effect --- p.4 / January effect --- p.5 / Firm size effect --- p.6 / Chapter III. --- STATEMENT OF OBJECTIVES --- p.8 / Chapter IV. --- RESEARCH HYPOTHESES --- p.9 / Chapter V. --- METHODOLOGY / Research design --- p.10 / Data collection method --- p.13 / "Sampling (method, size, frame)" --- p.13 / Data collection process --- p.15 / Additional sample screening --- p.15 / Chapter VI. --- ANALYSIS AND INTERPRETATION / Sample size --- p.16 / Monthly returns & adjustment for capitalization changes --- p.16 / The market model linear regression analysis --- p.17 / Additional screening for data --- p.19 / Comparison of betas with published results --- p.21 / Monthly abnormal returns --- p.23 / PE ratios and quartiles --- p.23 / PE quartiles and firm sizes --- p.24 / PE ratios and abnormal returns --- p.26 / PE ratios and returns --- p.31 / "PE ratios, firm sizes and abnormal returns" --- p.33 / Chapter VII. --- LIMITATIONS / Limitation of methodology --- p.37 / The applicability of the market model --- p.38 / Chapter VIII. --- SUMMARY OF FINDINGS --- p.39 / BIBLIOGRAPHY --- p.40 / APPENDICES / Chapter A --- Market Model Regression Analysis and Abnormal Returns of individual stocks / Chapter B --- Monthly Abnormal (Market-Model Adjusted) Returns for 1990: Portfolio ranked on the magnitude of the firm's Actual Price on Dec 18 1989/1988 Earning (PE) Ratio Monthly Abnormal (Market-Model Adjusted) Returns for 1991: Portfolio ranked on the magnitude of the firm's Actual Price on Dec 18 1990/1989 Earning (PE) Ratio / Chapter C --- Average Monthly Abnormal (Market-Model Adjusted) Returns for 1990 and 1991: Portfolio ranked on the magnitude of the firm's Actual Price/Last Year Earnings (PE) Ratio / Chapter D --- Average Monthly Returns for 1990 and 1991: Portfolio ranked on the magnitude of the firm's Actual Price/Last Year Earnings (PE) Ratio / Chapter E --- Average Monthly Abnormal (Market-Model Adjusted) Returns for 1990 and 1991: Portfolio ranked on the magnitude of the firm's Actual Price/Last Year Earnings (PE) Ratio and then Firm Size
456

Rights issues and investor returns in Hong Kong.

January 1992 (has links)
by Lau Yiu Fai, Lawrence. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1992. / Includes bibliographical references (leaves 44-45). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / ACKNOWLEDGEMENT --- p.iv / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Background --- p.2 / Mechanism of Rights Issue --- p.6 / Underwriting --- p.10 / Intrinsic Value of Rights --- p.14 / Advantages of Rights Issues for Fund Raising --- p.15 / Trading Strategies for Shareholders --- p.16 / Chapter II. --- METHODOLOGY OF ANALYSIS --- p.17 / Introduction and Literature Review --- p.17 / Performing the Event Study (Announcement of Rights Issue) of the Hong Kong Stocks. --- p.22 / Results Analysis --- p.27 / Correlations Between Rates of Change in Stock Price During the Announcement Period and the Size of the Proceeds --- p.28 / Results Analysis --- p.33 / The Price effect of Rights Issues and the Total Net Assets of the Company --- p.34 / Results Analysis --- p.35 / Chapter III. --- CONCLUSION --- p.37 / EXHIBITS --- p.40 / BIBLIOGRAPHY --- p.44
457

The value effect of corporate diversification in emerging market: evidence from the red-chips in Hong Kong.

January 2001 (has links)
Sun Qi. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2001. / Includes bibliographical references (leaves [83-85]). / Abstracts in English and Chinese. / Chapter SECTION ONE --- INTRODUCTION --- p.1 / Chapter SECTION TWO --- LITERATURE REVIEW --- p.6 / BENEFIT OF DIVERSIFICATION --- p.6 / COST OF DIVERSIFICATION --- p.9 / EMPIRICAL EVIDENCE --- p.12 / Chapter SECTION THREE --- CLINIC STUDY OF THE BANKRUPTCY OF GITIC --- p.15 / Chapter I. --- BACKGROUND OF GITIC --- p.16 / Chapter II. --- FACTORS BEHIND THE FAILURE --- p.19 / Chapter III. --- NEGATIVE INFLUENCE --- p.34 / Chapter IV. --- OVERVIEW OF THE RED CHIPS --- p.40 / Chapter SECTION FOUR --- GENERAL ANALYSIS ONE: CORPORATE COST OF CAPITAL AND THE RETURN ON CORPORATE INVESTMENT --- p.52 / Chapter I. --- SAMPLE DESCRIPTION --- p.54 / Chapter II. --- RESEARCH METHODOLOGY DESCRIPTION --- p.55 / Chapter III. --- INVESTIGATION OVER THE RESULTS --- p.61 / CAPITAL STRUCTURES --- p.61 / CASHFLOWS AND FINANCING DECISIONS --- p.64 / INTERNAL RATE OF RETURN ON VALUE AND COST --- p.68 / Chapter SECTION FIVE --- GENERAL ANALYSIS TWO: DIVERSIFICATION AND CORPORATE STOCK RETURN --- p.72 / Chapter I. --- MEASURE OF FOCUS --- p.72 / Chapter II. --- REGRESSION DESCRIPTION --- p.73 / Chapter III. --- REGRESSION REPORT --- p.74 / Chapter SECTION SIX --- CONCLUSION --- p.78 / TABLES / Chapter 1. --- NON-FINANCIAL CORPORATE STRUCURES / Chapter 2. --- "AGGREGATE ANNUAL CASH INFLOWS AND OUTFLOWS AS PERCENTS OF AGGEGATE BEGINNING OF YEAR BOOK CAPITAL,1992-1998" / Chapter 3. --- "AGGREGATE INVESTMENT AND FORMS OF FINANCING AS PERCENTS OF AGGREGATE BEGINNING OF YEAR BOOK CAPITAL,1992-1998" / Chapter 4. --- "BASIC DATA OF THE ENTERING FIRMS YEAR BY YEAR,1992-1997" / Chapter 5. --- "RATES OF RETURN ON VALUE AND COST (IN PERCENT) FOR NON-FINANCIAL RED CHIPS,1992-1998" / Chapter 6. --- CORPORATE FOCUS AND STOCK RETURNS / APPENDIX / Chapter 1. --- RED CHIPS BY THE END OF1998 / Chapter 2. --- THE COLLAPS OF GITIC (SUMMARY) / Chapter 3. --- SOME SYDICATED LOANS OF RED CHIPS MATURING IN1999 / Chapter 4. --- GROWTH RATE OF ASSETS (GRA) AND RETURN ON ASSETS (ROA) / Chapter 5. --- RETURN ON ASSETS FOR NON-FINANCIAL RED CHIPS (PERCENT) / Chapter 6. --- RETURN ON COMMON EQUITY FOR NON-FINANCIAL RED CHIPS (PERCENT) / Chapter 7. --- DEBT TO EQUITY RATIOS OF RED CHIPS (PERCENTAGE) / Chapter 8. --- CROSS-SECTIONAL REGRESSION REPORT / Chapter 9. --- CROSS-SECTIONAL REGRESSION OUTPUTS (CONTROLLING THE CORRELATION BETWEEN EXPLANATORY VARIABLES)
458

Os níveis de governança corporativa da Bovespa e o desempenho financeiro das empresas listadas

Silva, Geraldo da 12 May 2011 (has links)
Made available in DSpace on 2016-04-25T18:39:38Z (GMT). No. of bitstreams: 1 Geraldo da Silva.pdf: 685183 bytes, checksum: aa375a6eceeca2401599810da72277c9 (MD5) Previous issue date: 2011-05-12 / The emergence of corporate governance according to a majority of the academic world was in the 20th century, with the study of Berle and Means in 1932. But there is another thought that arose in the 18th century, with the need to reverse an economic crisis of 1754 in the Grand State of Para and Maranhão, where was prepared a document of the enterprise s statutes. The agency conflict becomes the central point of this discussion, as well as financial scandals, and with it the need of increasing to create procedures and laws to minimize these types of problems, and this way keeping in constant evolution. The overall objective is to examine if the entry of firms at different levels of Corporate Governance of Bovespa influences on financial performance. In Brazil, the Corporate Governance is increasingly present in the environment of companies, due to globalization, and this has led organizations such as CVM, IBGC and Bovespa to establish new recommendations / guidelines for business practices. Since 2001, some companies started to stick to the rules for admission to different levels of corporate governance established by Bovespa. The study was based on a sample of 42 companies listed in levels of Corporate Governance of Bovespa, and the independent variable is the date of admission to these levels, and the dependent variables are ROA and ROE, which were divided into 12 quarters before and 12 quarters after admission, to measure financial performance. In the statistical tests including the linear regression could not find any evidence that they improved the financial performance of companies in the selected sample. The final conclusion of this work paper is that it was not prove that the fact that companies submit to the regulations and consequently joined differentiated levels of Corporate Governance of Bovespa had any positive impact in financial performance these companies / O surgimento da Governança Corporativa de acordo com uma grande maioria do mundo acadêmico data do seculo XX, com o estudo de Berle e Means em 1932. Mas existe outra corrente que explica que tenha surgido no século XVIII, com a necessidade de reverter uma crise econômica de 1754 no Estado do Grão-Pará e Maranhão, aonde foi elaborada uma minuta dos estatutos do empreendimento. O Conflito de Agência se torna o ponto central desta discussão, como também os escândalos financeiros, e com isso a necessidade de cada vez maior se criar procedimentos e leis para minimizar estes tipos de problemas, desta forma se mantendo em constate evolução. O objetivo geral é analisar se o ingresso das empresas nos níveis diferenciados de Governança Corporativa da Bovespa influencia no desempenho financeiro das empresas. No Brasil, a Governança Corporativa está cada vez mais presente na vida das empresas, devido à globalização, e com isso levou entidades como CVM, IBGC e Bovespa a definirem novas recomendações/regras para obter melhores práticas corporativas. A partir de 2001, algumas empresas começaram a se adequar às regras para o ingresso nos níveis diferenciados de Governança Corporativa criados pela Bovespa. O estudo partiu de uma amostra de 42 empresas listadas nos níveis de Governança Corporativa da Bovespa, sendo que a variável independente é a data de adesão a estes níveis, e as variáveis dependentes são ROA e ROE, que foram divididos entre 12 trimestres antes e 12 trimestres depois da data de adesão, para medir o desempenho financeiro. Nos testes estatísticos incluindo a regressão linear não foi possível encontrar nenhuma evidência de que houve melhora no desempenho financeiro das empresas da amostra selecionada. A conclusão final do trabalho é que não se pode comprovar que o fato, de as empresas que submeteram aos regulamentos e consequentemente ingressaram aos níveis diferenciados de Governança Corporativa da Bovespa, teve algum impacto favorável no desempenho financeiro dessas empresas
459

Brasileiros que retornam: o impacto de recomeçar em São Paulo

Frutuoso, Suzane Caroline Gil 12 September 2014 (has links)
Made available in DSpace on 2016-04-25T20:21:16Z (GMT). No. of bitstreams: 1 Suzane Caroline Gil Frutuoso.pdf: 692281 bytes, checksum: a7b5b9b2a03fdaf92a8ae44c5c092b14 (MD5) Previous issue date: 2014-09-12 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / The 2008 global financial crisis has shaken rich countries financial health, once immune to topics like unemployment, underpayment and welfare state precariousness. Because of their strength and stability, these nations also attracted immigrants for years, including Brazilians. Mainly, as of the decade of 1980, they thought that the only way of being successful in times of hyperinflation and unfavorable social and economic perspectives was by leaving Brazil. Such logic changed with the global financial crisis that hit European countries, The United States and Japan in the late 2000s as Brazil was going through, for the very first time in years, employment rate, better incomes and purchasing power on the increase. A great deal of people decided to come back. According to Foreign and Commonwealth Office of Brazil data, around four hundred thousand Brazilians arrived in their home country between 2008 and 2012. It is a significant and previously unseen number. Never have so many emigrants returned at the same time. But the ones who came back with some qualification, such as college and post-graduation degrees, experiencing solid career or building it abroad, despite local opportunities, had to face inevitable culture shock along with the feeling of no longer totally fitting in the place where they came from. The purpose of this paper is to discuss and analyze the return of Brazilian citizens after years of living abroad and the impact of moving back to São Paulo City, with its advantages and disadvantages from social, economic, urban and emotional points of view. Traveling from place to place is considered to be multicausal, which in its turn, leads to reflections about identities in reconstruction. On the other hand, the balance between expectations and achievements end up revealing urban questions of a global city, with its contradictions. The interviewees are college graduates and have left the countries where they had been living for years or intended to stay longer due to the effects of the global financial crisis. They do not belong to the group of immigrants who had to be manual laborers (except for one of the interviewees who did it in order to complement her income to pay tourism travels). They sounded optimistic about their returning. Most of them, however, feel disappointed when it comes to situations that seem to never improve such as security, transportation, education, corruption. The interviewees were also dissatisfied with the quick decline of the so-called constant growth. Soon after their return, around 2012, they realized that economy had slowed down, the cost of living in São Paulo had become too high by comparison with other metropolis in the world, and the salaries were not that good anymore. Many of them consider to immigrate again. This is a qualitative research. Its data was collected through semi-structured interviews, which were all recorded. Institutional and governmental data complement our paper, which portrays a new face of traveling from place to place, migrations and human mobility in the twenty-first century, in the midst of a globalized scenario with an urban means (São Paulo City) that directly affects the identity in society as well as the way people behave or deal towards one another / A crise econômica internacional de 2008 abalou a saúde financeira de países ricos que antes pareciam imunes a questões como desemprego, baixas remunerações e precariedade. Bem como no Estado de bem-estar social. Por sua pujança e estabilidade, essas nações também atraíram durante anos imigrantes, inclusive brasileiros. Principalmente a partir da década de 1980, eles viram na saída do Brasil a única chance de ascensão numa época de hiperinflação e perspectivas socioeconômicas desfavoráveis. Tal lógica se inverteu com a crise que atingiu no final dos anos 2000 países europeus, os Estados Unidos e o Japão, enquanto o Brasil experimentava, pela primeira vez em muito tempo, taxas de pleno emprego, melhora na renda e crescimento da capacidade de consumo. Um contingente grande de pessoas resolveu voltar. Segundo dados do Ministério das Relações Exteriores, cerca de 400 mil brasileiros desembarcaram na terra de origem entre 2008 e 2012. O número é expressivo e inédito. Nunca tantos emigrados regressaram em um mesmo período. Mas para os retornados qualificados, graduados, pós-graduados, com carreira construída ou em construção lá fora, apesar das oportunidades aqui, o choque cultural foi inevitável, assim como a sensação de não mais pertencer totalmente ao local de onde partiram. O objetivo do trabalho é discutir e analisar o retorno de brasileiros depois de anos no exterior e o impacto de voltar a viver na cidade de São Paulo, com suas vantagens e desvantagens do ponto de vista social, econômico, urbano e emocional. Os deslocamentos são vistos como multicausais e provocam, por sua vez, reflexões sobre identidade em reconstrução. Por outro lado, o balanço entre expectativas e conquistas acaba por revelar as questões urbanas de uma cidade global, com suas contradições. Os entrevistados têm nível superior e deixaram os países em que viviam há anos ou pensavam passar mais tempo devido aos reflexos da crise internacional. Não são parte do contingente de imigrantes que se submeteram a qualquer trabalho braçal (apenas uma entrevistada realizou esse tipo de função para obter renda complementar enquanto estudava e, assim, poder fazer turismo). Estavam esperançosos quanto ao retorno. A maior parte, porém, demonstrou decepção com situações que parecem nunca mudar, como segurança, transporte, educação, corrupção. Pesou também na insatisfação dos entrevistados o declínio rápido do que era anunciado como um crescimento constante. Pouco depois do retorno, por volta de 2012, perceberam que a economia desacelerou, o custo de vida em São Paulo se tornou elevado demais na comparação com outras metrópoles do mundo e os salários já não eram tão vantajosos. Muitos deles consideram imigrar novamente. A pesquisa é qualitativa. Os dados foram coletados por meio de entrevistas semi-estruturadas, todas gravadas. Dados institucionais e governamentais complementam nosso trabalho, retrato de uma nova face dos deslocamentos, das migrações e da mobilidade humana no século XXI num cenário globalizado e com um ambiente urbano (cidade de São Paulo) que afeta diretamente a identidade na sociedade e a maneira de se relacionar
460

Mispricing of earnings components: empirical evidence from China. / CUHK electronic theses & dissertations collection / Digital dissertation consortium / ProQuest dissertations and theses

January 2003 (has links)
This study investigates whether earnings components are correctly priced by the Chinese investors. Under the Chinese GAAP, total earnings can be easily decomposed into core earnings and non-core earnings. Core earnings are more persistent than non-core earnings and cash flows from operations are more persistent than accruals, as expected. However, the market underestimates (overestimates) the value implications of current core (non-core) earnings for future earnings. Furthermore, the market overprices (underprices) accruals (cash flows from operations). Therefore, future returns adjusted for risk factors identified in this study are predictable by the information contained in the components of current earnings. Both the portfolio tests and regression analysis generate economically significant abnormal returns that are robust to sensitivity checks. Further analysis suggests that there is no significant difference in the extent of mispricing across firms with different characteristics such as transaction costs, arbitrage risks, investor sophistication, or firm size. This could be due to the measurement errors in the proxy variables for these characteristics. / Wu Donghui. / "July 2003." / Advisers: In-Mu Haw; James Xie. / Source: Dissertation Abstracts International, Volume: 64-07, Section: A, page: 2551. / Thesis (Ph.D.)--Chinese University of Hong Kong, 2003. / Includes bibliographical references (p. 121-130). / Available also through the Internet via Current research @ Chinese University of Hong Kong under title: Mispricings of earnings components empirical evidence from China. / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Electronic reproduction. Ann Arbor, MI : ProQuest dissertations and theses, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Electronic reproduction. Ann Arbor, MI : ProQuest Information and Learning Company, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Abstracts in English and Chinese. / School code: 1307.

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