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Affärssystem erbjuder effektivt informationsflöde samt större kontroll överprocesser mellan olika moduler på ett företag. Det bidrar till att företaget kanreagera snabbare på marknadens möjligheter och på konkurrenstrycket. För attlyckas med implementering av affärssystem behöver företaget ta hänsyn tillkritiska framgångsfaktorer som kan vara utgångspunkten iimplementeringsprocessen.Denna fallstudie studerar kritiska framgångsfaktorer för implementering avaffärssystem utifrån ett affärsanalytiker- respektive IT-personalperspektiv genomatt genomföra fyra intervjuer på ett specifikt företag. Utgångspunkten äridentifierad genom en litteraturstudie om kritiska framgångsfaktorer förimplementering av affärssystem. Även företagets åtgärder för att underlättasamarbete och kommunikation mellan de två grupperna presenteras.Detta resulterade i att utvärderingen av fyra av de åtta undersökta faktorernaskiljer sig mellan de två undersökta grupperna. Dessa faktorer är ”tydliga mål ochsyfte, planering”, ”utbildning av användarna”, ” business process reengineering”och ”project management”. Vidare vid en utvärdering anger IT-personal ”tydligamål och syfte” som den viktigaste kritiska faktorn. Enligt affärsanalytiker finnsingen faktor som hamnar på högsta plats i granskningsskala. Däremot ”topmanagement support” och ”effektiv kommunikation” hamnar på andra plats igranskningsskala i båda grupperna i frågan om de mest kritiska faktorerna.Oavsett skillnader i utvärderingen av de undersökta faktorerna betraktasfortfarande alla faktorer som kritiska och viktiga. Det undersökta företagetfokuserar mycket på att underlätta kommunikationen och samarbetet mellan detvå grupperna genom att jobba agilt samt öka närvaro i varandras vardag. / Enterprise resource planning (ERP) provides an efficient flow of information and agreater control over the processes between the different modules of an enterprise.It helps the company to respond more quickly to market opportunities andcompetitive pressures. To succeed in business systems implementation, thecompany needs to consider the critical success factors that can be the starting pointin the implementation process. In this case study, we analyze critical successfactors for ERP implementation based on business analysts and IT staffperspective, through four interviews on a specific company. The starting point is toidentify critical success factors for ERP implementation through a literature study.The company's measures to facilitate cooperation and communication between thetwo groups are also presented.As a result, the review of the eight tested factors differs between the two studygroups. These factors are “clear goals and objectives”, “user training”, “businessprocess reengineering” and “project management”. In particular, clear goals andobjectives are identified as the most critical factor by the IT staff. However,according to business analysts, no factor ends up in the highest level of the reviewscale. In contrast, “top management support” and “effective communication” end upin second position of the review scale in both groups on the question of the mostcritical factors. Regardless of the differences in the examination of the factors allare still considered critical and important. Investigated company focuses onfacilitating communication and cooperation between the two groups by workingagile and increase the presence in each other's everyday lives.

Thesis submitted in fulfilment of the requirements for the degree Doctor of Technology: Information Technology in the Faculty of Informatics and Design at the Cape Peninsula University of Technology 2013 / The alignment between business and information technology (IT) strategies has been a challenge for many years. Strategic alignment models and enterprise architecture methodologies and frameworks have been developed to assist business and IT managers with improving alignment between business and IT strategies. The business analyst, systems analyst and project manager are key role players in delivering the information systems (IS) needs of business and therefore key in aligning business and IT strategies. Despite literature and research suggesting a positive influence of emotional intelligence on occupational performance in various industries, the development of emotional intelligence of the business analyst, systems analyst and project manager is neglected by software development organisations. Emotional intelligence is neglected in industry IS competency models as well as documented standards for the business analysis and project management profession (BABOK and PMBOK). Emotional intelligence is not addressed in strategic alignment models and enterprise architecture methodologies and frameworks. Emotional intelligence is equally neglected in IS literature. Systematic research investigating the impact of emotional intelligence on occupational performance of IT professionals remains sparse. The purpose of this study was to determine which emotional intelligence competencies are needed to improve the occupational performance of business analysts, systems analysts and project managers in delivering business information system needs. The study took the form of a multiple interpretive case study. Qualitative data was collected using semi-structured interviews with stakeholders from 20 software development organisations utilising the roles of the business analyst, systems analyst and project manager. Quantitative data was collected using the Genos Emotional Intelligence Inventory with the aim of identifying the patterns of emotional intelligence visible in the sample of business analysts, systems analysts and project managers assessed. The study suggests emotional intelligence has a role to play in alignment between business and IT strategies. It is proposed that industry IS competency models as well as the standards for the business analysis and project management profession as documented in BABOK and PMBOK include specific emotional intelligence competencies. The study also proposes that higher education institutions in IT/IS such as universities of technology, as well as training providers focusing on business analysis, systems analysis and project management, should focus not only on technical skills but emotional intelligence skills as well when developing the supply pipeline of business analysts, systems analysts and project managers. Keywords: Emotional intelligence, business – IT alignment, information technology, enterprise architecture, business analyst, systems analyst, project manager, competencies, non-technical skills.

本研究以1980年至2015年美國及加拿大上市公司為研究對象，探討具有會計專長之執行長（CEO）與外界反應的關係。在探討外界反應之前，本文先檢視具有會計專長之CEO對於盈餘品質的影響，透過此結果，推論專業人士（包含會計師與分析師）與市場投資人之反應。本研究預期，當CEO具有會計專長時，會使盈餘品質降低，故審計風險隨之提高，導致審計公費增加，且分析師的追隨意願降低，同時也將影響市場投資人的反應。 研究結果發現，具會計專長CEO與盈餘管理、審計公費、公司累積異常報酬呈現顯著正相關，與分析師追隨數則為顯著負相關，顯示當CEO具有會計專長時，因有盈餘操控的情況，所以審計公費提高、分析師追隨數減少；但市場投資人或許無法體認盈餘操控的事實，故仍相信具有會計專長之CEO，有可能為公司帶來正面的影響。 / This study investigates the relationship between CEOs with accounting expertise and external reactions of investors, auditors and analysts. The sample firms used in this study are all the stock-listed companies in America and Canada during 1980-2015. Before examining such external reactions, this paper explores the association between CEOs with accounting expertise and earnings quality, which help us to obtain an explanation why auditors, analysts and investors have such reactions. The empirical results show that CEOs with accounting expertise manage earnings more aggressively than CEOs without such expertise. As a consequence, the firms with such CEOs will be charged higher audit fees and have less analyst following. However, investors might not recognize this fact; they still believe that CEOs with accounting expertise will have a positive influence on firms. Our findings could offer a reference for a company looking for a CEO that could bring accounting quality.

Title: Credit Rating Impact on Information Environment – A study on the informational impact of credit ratings in financial markets using equity analysts’ performance as proxy. Introduction: The credit rating agencies provide risk assessment for a massive amount of financial assets around the world. These risk assessments are in turn used by numerous different market participants. The general idea behind this industry is that the credit ratings provide additional information or alternatively increase the quality of information in financial markets. Recent studies (most of which is written after the financial crisis of 2008) argue that there are several issues in the rating processes leading to failure to provide accurate ratings. Other studies still claim that credit rating agencies still provide useful information or alternatively increase the quality of information by sorting and ranking public knowledge of assets. We see the need for an investigating study examining the informational benefits of credit rating in the information environment of markets. Research Approach: How does the issuing of credit ratings impact the information environment in financial markets? Purpose: The study aim to contribute to the understanding of the current and historical effects that credit ratings have, and have had, on the information quality of markets and hence the efficiency of markets. Method: Our study takes a deductive research approach where the methodology is one of a quantitative and explanatory character. To analyze the effects on market information we use the BKLS model (Barron, Kim, Lim & Stevens, 1998), which uses equity analysts’ performance as proxy for the information environment. These data are then used in a long-term time-series study looking for long-term changes in analysts’ performance with yearly observations. Furthermore we test the instant market effects on stock prices from the issuing of a credit rating in a secondary short-term time-series study with daily observations. Conclusions: We find that the issuing of a credit rating in fact decreases the amount/quality of information available in financial markets (both public and private information). We contribute these effects to conflicts of interest in the rating processes and agency problems in the relationship between issuer and credit rating agency. Several practical examples of this are found such as ratings shopping, solicitation of ratings issuing, agencies offering consultant services and the lack of regulatory measures taken by regulators such as ESMA and SEC. We propose several ways of developing the research in this field; most importantly we want to see future studies on the differences between solicited/unsolicited issuing of ratings.

過去國內文獻大致指出投資人難以依靠券商的投資建議獲利，此與大部份國外文獻的發現相異。本文參考Barber et al. (2001)，建構一個適用於台灣股票市場的研究方法，再以四因子模型做實證。本文以2007年3月至2015年12月，共48987筆卷商個股報告為研究樣本，來探討券商報告的投資建議能否獲利。本文研究結果發現，台灣的券商報告擁有額外的資訊價值，此與Barber et al. (2001)及其他國外文獻大致相同。 本研究依券商的推薦強度建構四個投資組合。發現推薦程度高的投資組合平均月報酬為正，且高於大盤；而推薦程度低的投資組合平均月報酬顯著低於大盤，且擁有顯著的負超額報酬。本文進一步建構買進賣出策略，即買進推薦股票高的投資組合並賣出推薦程度低的投資組合，發現此策略報酬顯著高於零及大盤，且存在顯著的正超額報酬。另外在台股多頭期間，本研究的實證結果更加顯著，推薦程度高的投資組合平均月報酬增加至顯著高於大盤，且超額報酬顯著為正；推薦程度低的投資組合之大盤調整報酬及負超額報酬的顯著程度提高；而買進賣出策略獲得超額報酬的顯著程度也大幅提高。 / Past Taiwanese literatures generally indicated that it is difficult to obtain profit from Taiwanese stock recommendations of brokerage, which is different from most of foreign literatures. Referring to Barber et al. (2001), we improve and build a research methodology applied to Taiwanese stock market, conducting empirical analysis with four-factor model. From March 2007 to December 2015, we use total 48987 brokers’ stock recommendations as sample to investigate whether inventors could earn profit from the broker recommendations. Our empirical results show that Taiwanese broker reports hold additional information, which is consistent with Barber et al. (2001) and most of foreign literatures. According to the strength of recommendation, we construct four portfolios and find that the return of the most favorable portfolio is higher than market, while the return of the least favorable portfolio is significantly smaller than market and holds significantly negative access return. We further construct a long-short strategy, which buys the most favorable portfolios and shorts the least favorable portfolios. The return of this strategy is significantly higher than market, and excess return is significantly positive. During Taiwanese bull market, the significance of our empirical result improves. The significance level of market-adjusted return and access return for both the most favorable and least favorable portfolio is higher. In addition, the significance level of excess return for long-short strategy also greatly improves.

Background: On January 3, 2018, the discussed MiFID II directive was implemented. The proponents argue that MiFID II increases transparency and benefits the end customers. The critics argue that smaller players are driven out from the market and that companies lose coverage. Although a year has passed, there are few studies on how financial players perceive the effects and how research, that in theory contributes to reduce information asymmetry on the financial market, is affected. Purpose: The purpose of this study is to increase the understanding of how the Buy and Sell side of equity analysis experience the aftermath of MiFID II one year after the implementation, and what continued impact the directive is expected to have in the long run. This study will more specifically study how equity research, operations, the market and its players got effected by MiFID II. Method: In order to answer the purpose of this study a qualitative method is being used. Moreover, the study has an abductive approach and a case study design in which eight semi-structured interviews were conducted in order to answer the research questions and capture the phenomenological perspective. Conclusion: The study shows that the biggest change that the Buy and Sell side observe MiFID II has had is the unbundling cost of research and execution. This change has led to a decrease in demand, a fall in prices and a decrease in the overall quality of analyzes. The Buy side has reduced the number of counterparties, while the Sell side experienced reduced revenues. / Bakgrund Den 3 januari 2018 infördes det omdiskuterade MiFID II direktivet. Förespråkarna menar att MiFID II ökar transparensen och gynnar slutkunderna. Kritikerna menar att mindre aktörer slås ut och att bolag tappar bevakning. Trots att ett år passerat finns få studier av hur finansiella aktörer såsom fondförvaltare och aktieanalytiker upplever MiFID II:s följder, samt hur aktieanalyser, som i teorin bidrar till att minska informationsasymmetrin på den finansiella marknaden, påverkats. Syfte Syftet med denna studie är att öka förståelsen för hur köp- och säljsidan av aktieanalyser aktieanalyser upplever att MiFID II har haft för följder ett år efter implementeringen, samt hur MiFID II förväntas ha för fortsatt påverkan på sikt. Mer specifikt ämnar studien att undersöka hur verksamheten, marknaden, aktörerna och aktieanalyser påverkats. Metod För att besvara studiens syfte används en kvalitativ metod. Vidare har studien en abduktiv ansats och en fallstudiedesign, där åtta semistrukturerade intervjuer genomfördes för att kunna besvara studiens forskningsfrågor och fånga studiens fenomenologiska perspektiv. Slutsats Studien visar att den största förändringen som respondenterna på köp- och säljsidan upplever att MiFID II haft är uppdelningen av kostnaden för analys och exekvering. Denna förändring har bland annat lett till att efterfrågan minskat, priset sjunkit och den generella kvalitén på analyserna minskat. Köpsidan har dragit ned på antal parter och säljsidan upplever problem medminskade intäkter.

Made available in DSpace on 2016-04-29T13:31:18Z (GMT). No. of bitstreams: 1 Priscila de Azevedo e Souza Venosa.pdf: 818153 bytes, checksum: 35e52293b56cf04edb32a41cf6512319 (MD5) Previous issue date: 2015-05-21 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / This dissertation aims to focus on the impossibilities of education from each of the discursive forms it can assume in societies. It begins with a discussion of the proximity between psychoanalysis and education as two distinct epistemological fields until it reaches the point where Freud comprehends them as impossible discursive positions. The main used tool is the theory of discourse by Jacques Lacan, a reinterpretation of the three impossible Freudians. With it, is undertaken the investment of thinking the discursive contingencies predominantly present in the time period comprehended between the end of the Middle Ages and nowadays. The enjoyment [jouissance] modalizations for each discourse are presented and their corresponding way of education. Of the five discourses thought by Lacan master, hysterical, university, capitalist and analytical it is given a stronger focus to those considered politically hegemonic nowadays: the university and the capitalist. A discursive change between the first and the second is utilized to approach the transformations that occurred in the time period in which production capitalism gives way to consumer capitalism, or late capitalism. Its final goal is to discuss and raise questions on how the uneasiness nowadays is configured and how the hegemonic discourse engender the subjectivities of the subjects in education and society. For this, it will work with the contingent and historic, and not only structural of the Lacanian subject, covering and articulating the theoretical contributions of several authors who dedicated themselves to thinking about the themes that compose this subject / Nessa dissertação pretende-se dirigir um olhar para as impossibilidades do educar a partir de cada uma das formas discursivas que ele pode assumir nas sociedades. Inicia-se com um discussão da aproximação entre psicanálise e educação como dois campos epistemológicos distintos até chegar ao ponto em que Freud os compreende como impossíveis posições discursivas. A principal ferramenta utilizada é a teoria dos discursos de Jacques Lacan, uma releitura dos três impossíveis freudianos. Com ela, é empreendido o investimento de pensar as contingências discursivas predominantemente presentes no período compreendido entre o final da Idade Média e os dias de hoje. São apresentadas as modalizações de gozo referentes a cada discurso e sua correspondente forma de educar. Dos cinco discursos ensinados por Lacan mestre, histérico, universitário, capitalista e analítico é dado maior enfoque àqueles considerados politicamente hegemônicos nos dias de hoje: o universitário e o capitalista. Uma mudança discursiva entre o primeiro e o segundo é utilizada para abordar as transformações ocorridas no período em que se deu a passagem do capitalismo de produção para o capitalismo de consumo, ou capitalismo tardio. O objetivo final é discutir e levantar questões sobre como se configura o mal-estar nos dias de hoje e como os discursos hegemônicos engendram as subjetividades dos sujeitos na educação e na sociedade. Para tanto, trabalhará com o aspecto contingente e histórico, e não unicamente estrutural do sujeito lacaniano, percorrendo e articulando as contribuições teóricas dos diversos autores que se dedicaram a pensar sobre os temas que compõem esse assunto

Modelling solar radiation data at a high spatiotemporal resolution for an urban environment can inform many different applications related to climate action, such as urban agriculture, forest, building, and renewable energy studies. However, the complexity of urban form, vastness of city-wide coverage, and general dearth of climatological information pose unique challenges doing so. To address some climate action goals related to reducing building emissions in the City of Victoria, British Columbia, Canada, applied geomatics and climatology were used to model solar radiation data suitable for informing renewable energy feasibility studies, including photovoltaic system sizing, costing, carbon offsets, and financial payback. The research presents a comprehensive review of solar radiation attenuates, as well as methods of accounting for them, specifically in urban environments. A novel methodology is derived from the review and integrates existing models, data, and tools – those typically available to a local government. Using Light Detection and Ranging (LiDAR), a solar climatology, Esri’s ArcGIS Solar Analyst tool, and Python scripting, daily insolation (kWh/m2) maps are produced for the city of Victoria. Particular attention is paid to the derivation of daily diffuse fraction from atmospheric clearness indices, as well as LiDAR classification and generation of a Digital Surface Model (DSM). Novel and significant improvements in computation time are realized through parallel processing. Model results exhibit strong correlation with empirical data and support the use of Solar Analyst for urban solar assessments when great care is taken to accurately and consistently represent model inputs and outputs integrated in a methodological approach. / Graduate