Crowdfunding is becoming a new form of funding used by entrepreneurs in Sweden who seek financing for their ventures or projects. This form of funding of which the crowdfunders invest in a nontraditional alternative requires a relationship between the crowdfunders and the entrepreneurs. This thesis aims to provide extensive information into how entrepreneurs and crowdfunders interact with each other. While considering research that has been carried out so far on the growth of crowdfunding, the author wishes to provide more detailed findings and an understanding of how crowdfunders and founders operate after equity crowdfunding.The empirical findings were collected using a semi-structured questionnaire from 20 Swedish entrepreneurs that are currently engaged with equity Crowdfunding and have received funding for their ventures. The basis for the design of the questionnaire was built upon a literature review and previous researches. The research was carried out as an exploratory study using a qualitative approach known as thematic method of data analysis to investigate entrepreneur and crowdfunders relationships and what successes can be recorded based on the relationship.This thesis indicates that the entrepreneurs were largely satisfied with the relationship and benefits they derived from equity crowdfunding. However, this research also presented challenges and benefits of crowdfunding as experienced by the respondents. The benefits of the crowdfunders-entrepreneurs relationship as a factor have contributed to entrepreneurs' wellbeing as described by the participants.

Manufacturers have begun to realize that in order to have factories which are adapted to the contemporary conditions required for having state of the art manufacturing, the fixed network cables should be replaced by wireless communication with higher capacity. Cellular connectivity has this ability, but to be able to deliver it to manufacturing factories, they would benefit from establishing a suitable ecosystem design for the technology. The purpose of this research paper is to investigate how infrastructure developing telecom companies can work to establish this business ecosystem for cellular connectivity in manufacturing factories and make sure they remain competitive over time. The purpose was fulfilled using a qualitative case study consisting of 20 semi-structured interviews, conducted at a case company. The case study was complemented with a quantitative study to understand the status of current relationships in the ecosystem. Results of the study indicate that: • As cellular connectivity for manufacturing factories is in an early stage of its life cycle, it is of more importance to convince customers of the technology’s benefits, in order to get a market pull, rather than promoting the own product. • A competitive advantage may not be yielded through getting a minimum viable product to the market in the sense of learning about components and complements. However, the minimum viable product should give rise to an opportunity to establish key relationships and experience across the entire ecosystem. • Relationships to all business partners in the ecosystem are considered important. However, the relationships differ in strength, as they are at different maturity stages and needs various amounts of attention and resources. Accordingly, some effort needs to be put into all relationships, but making sure to understand the optimal amount of attention and resources for each relationship may facilitate the choosing of appropriate effort levels. / Tillverkande fabriker har börjat inse att de fasta nätverkskablarna borde ersättas med trådlös kommunikation med högre kapacitet, för att deras fabriker ska vara anpassade till dagens förhållanden som krävs för toppmodern tillverkning. Cellulär uppkoppling har denna förmåga, men för att leverera tekniken till tillverkande fabriker borde en lämplig ekosystem-design etableras. Syftet med denna studie är att undersöka hur infrastrukturutvecklande telekomföretag kan arbeta för att etablera detta ekosystem för cellulär uppkoppling i tillverkande fabriker samt se till att vara konkurrenskraftiga över tid. Syftet uppnåddes genom en kvalitativ fallstudie bestående av 20 halvstrukturerade intervjuer som genomfördes på ett företag. Fallstudien kompletterades med en kvantitativ studie för att förstå statusen på nuvarande relationer i ekosystemet. Studiens resultat påvisar att: • Eftersom cellulär uppkoppling för fabriker är i ett tidigt skede av sin livscykel så är det av större betydelse att övertyga kunder om teknikens fördelar för att expandera marknaden snarare än att främja företagets egen produkt. • Vart eftersom tekniken mognar är det viktigt att ha en differentieringsstrategi, för att få en tillfredsställande marknadsandel. En konkurrensfördel uppnås inte garanterat genom komponenter och komplement via att företaget får ut en tidig fungerande produkt på marknaden. Den tidigt fungerande produkten bör dock ge upphov till en möjlighet att etablera viktiga relationer och erfarenheter över hela ekosystemet. • Affärsrelationer till alla parter i ekosystemet anses vara viktiga. Relationerna skiljer sig åt i styrka, eftersom de befinner sig i olika mognadsfaser och behöver olika mängder uppmärksamhet och resurser. Följaktligen måste en viss ansträngning sättas in i alla relationer, men förståelse av den optimala mängden uppmärksamhet och resurser för varje relation kan underlätta valet av lämpliga insatsnivåer.

O objetivo primordial da presente dissertação é estudar o instituto da cessão fiduciária de créditos e de títulos de crédito, previsto no artigo 66-B da Lei nº 4.728, de 14 de julho de 1965, com a redação dada pela Lei nº 10.931, de 02 de agosto de.2004, e popularmente conhecida como trava bancária, com vistas a identificar as posições da doutrina e jurisprudência quanto ao seu tratamento nas hipóteses de recuperação judicial e falência do devedor-fiduciante. Isto porque, o parágrafo 3º do artigo 49 da Lei nº 11.101, de 09 de fevereiro de 2005 (Lei de Recuperação de Empresas LRE) exclui dos efeitos da recuperação judicial os proprietários fiduciários de bens móveis e imóveis. A maior parte da doutrina e da jurisprudência defende que os titulares de créditos cedidos fiduciariamente estão compreendidos na definição de proprietário fiduciário de bem móvel prevista no referido parágrafo 3º do artigo 49 da LRE e, portanto, estão excluídos dos efeitos da recuperação judicial do devedor-fiduciante. Por outro lado, parte minoritária da doutrina e da jurisprudência defende que o parágrafo 3º do artigo 49 da LRE não menciona expressamente os titulares de crédito cedidos fiduciariamente e, sendo o referido parágrafo exceção à regra de que todos os credores estão sujeitos à recuperação judicial do devedor, sua redação deveria ser interpretada restritivamente, razão pela qual os credores titulares de créditos cedidos fiduciariamente estão sujeitos à recuperação judicial do devedor-fiduciante. A divergência da doutrina e da jurisprudência sobre o tema acaba por acarretar insegurança jurídica quanto ao uso da cessão fiduciária como forma de garantia. De um lado, as instituições financeiras têm dúvidas sobre a real segurança de tal garantia, o que pode comprometer uma eficiente avaliação de risco de crédito, assim como a recuperação do crédito na hipótese de insolvência do devedor. Por outro lado, as empresas em crise têm dúvidas sobre a viabilidade de sua efetiva recuperação, principalmente quando seus maiores credores forem bancos. Por todos esses motivos, entendemos ser de suma importância um estudo aprofundado do referido instituto, bem como uma análise crítica da solução adotada pelo legislador em face dos princípios de preservação da empresa em crise trazidos pela LRE. / The main purpose of this dissertation is to examine the fiduciary assignment of rights on movable assets and of credit instruments, as contemplated in article 66-B of Law No. 4,728, of July 14, 1965, as amended by Law No. 10,931, of August 2, 2004 widely known as bank lock (trava bancária) with a view to identifying the standing of legal scholars and court precedents and their approach in the event of debtors judicial restructuring and/or bankruptcy. This is because the 3rd paragraph of article 49 of Law No. 11,101 of February 9, 2005 (Judicial Restructuring Law LRE) determines that the fiduciary owners of movable and immovable assets are no longer subject to the effects of their debtors judicial restructuring. Most legal scholars and court precedents sustain that holders of credits assigned on a fiduciary basis fall under the category of fiduciary owner of movable assets, as established by such 3rd paragraph of article 49 of LRE and, therefore, are not subject to the debtors judicial restructuring. On the other hand, a small number of legal scholars and court precedents sustain that the 3rd paragraph of article 49 of LRE contains no express reference to holders of credits assigned on a fiduciary basis and, given that such paragraph is an exception to the general rule that all creditors are subject to the debtors judicial restructuring, its wording ought to be construed restrictively, for which reason such holders of the credits assigned on a fiduciary basis would be subject to the debtors judicial restructuring. Diverging views among legal scholars and court precedents on the matter bring about legal uncertainty as to the use of the fiduciary assignment of credits as a form of security. Financial institutions, on the one hand, are skeptical about the actual effectiveness of such form of security and that alone might impair the efficient assessment of the credit risk and the recovery of credits in the event of the debtors insolvency. On the other hand, companies undergoing financial crisis question the feasibility of an effective restructuring, particularly if their major creditors are banks. For all those reasons, it is important to look into the fiduciary assignment of credits and critically analyze the solution adopted by the lawmakers vis-à-vis the principles of preserving companies in crises as introduced by the LRE.

<p>This thesis has its point of departure in the identified knowledge gap, which includes the importance of the information systems (IS) outsourcing relationship for studying the success of IS outsourcing. This research study, therefore, is structured with the belief that the disregard of the client-IS supplier relationship when studying IS outsourcing is paradoxical. Paradoxical since the impact of the relationship on the overall IS outsourcing can make the difference between success, less success and even failure. In contrast to the majority of prior research, which has focused IS outsourcing in its entirety, this research study percieves IS outsourcing as a process. Because prior research shows that the success or failure of IS outsourcing is connected to its implementation, this thesis focuses the post-contract stage of the IS outsourcing.</p><p>The purpose chosen and addressed is to develop a conceptual framework for describing and explaining the degree of successful outcome of the IS outsourcing process using a relationship perspective. To approach this purpose, a literature review study is conducted. The literature review study includes the integration of three theoretical fields: IS, interorganisational business relationships and IS outsourcing. The knowledge domains of particular interest are 'strategies, approaches and frameworks for the IS life cycle', 'the interaction approach' and 'IS outsourcing success'.</p><p>The purpose is focused through the identification of key conditions, dimensions and interrelations among dimensions. These identified elements, constituting the core elements of the conceptual framework, are a result of the conducted literature review study. The key conditions are identified according to their influence on the degree of successful outcome of the IS outsourcing process from a relationship perspective. Due to the large amount of key conditions identified, they are categorised into nine dimensions: Atmosphere, Behaviour, Contract, Environment, Interatction, IS, Management, Organisation and Outcome. The identified interrelations among these dimensions are fruitful since they provide insights and a favourable point of departure for studying the degree of successful outcome of IS outsourcing processes.</p><p>The main contribution of this thesis is the conceptual framework for the IS outsourcing process. The key conditions, dimensions and interrelations constitute the conceptual framework as a result of their potential for describing and explaining the degree of successful outcome of the IS outsourcing process from a relationship perspective. The application of the conceptual framework provides managers with core elements to be considered during IS outsourcing decision-making and subsequent design of IS outsourcing. Its usage, moreover, is believed to support managers during the operationalisation of the post-contract stage of IS outsourcing processes. Finally, the conceptual framework is a fruitful 'tool' for future empirical research. Fruitful in the sense that it can provide useful and important insights into how different key conditions infuence the degree of successful outcome of IS outsourcing processes and how these key conditions are interrelated.</p>

Synergi är viktigt i samband med fusioner och förvärv. Utgångspunkten är att synergi, i både teori och praktik, används för att skapa olika typer av mervärden. Fusioner och förvärv är frekvent förekommande i företagande och det är många olika aktörer som berörs av sådana förändringar, t.ex. anställda, företagsledningar och ägare. Företagsintegrationer kan antas påverka de företag som är involverade i fusionen eller förvärvet. Även andra aktörer som kunder och leverantörer kan komma att påverkas av den förändring som en fusion eller ett förvärv innebär. Det finns därför skäl att studera förhållandet mellan skapande av synergi och företagsintegrationer. Avhandlingens inriktning är att i vid bemärkelse studera synergibegreppet för att ytterligare öka förståelsen av synergi, både inom ett företag samt i företagets affärsnätverk. Syftet med avhandlingen är att utveckla hur synergi kan realiseras inom företaget och i affärsrelationer till kunder och leverantörer i samband med fusioner och förvärv. Baserat på fusioner och förvärv bland industriföretag analyseras i avhandlingens första del hur och om synergi kan realiseras inom ett integrerande företag. Ett resultat av studien är att synergi inom ett företag sammanfattningsvis kan sägas vara ett resultat av ett samspel mellan skapande av mervärden, samstämmighet mellan strategiska prioriteringar och funktionellt genomförande. Synergi inom ett företag kan sägas vara något som en företagsledning planerar med avsikt att genomföra. Företaget är i centrum och avsikten är att förändra och påverka omgivningen för anpassning till de nya förutsättningar som finns. I en sådan miljö finns andra aktörer, som kunder och leverantörer. Det finns därför ett intresse att också studera hur och om synergi i en affärsrelation kan uppstå. Synergi i ett fusionerande eller förvärvande företags affärsnätverk är en breddning av synergibegreppet till att också omfatta relationen mellan företag. Avhandlingens andra del studerar detta. Det är viktigt att ha ett vidare perspektiv på vad en förändring får för konsekvens i skapande av synergi i ett integrerande företags relation till andra aktörer, som kunder och leverantörer. Synergi i relation kan uttryckas som det samlade resultatet av hur aktörerna anpassar sig till förändringar, hur förändringen påverkar beroendeförhållanden, i vilken utsträckning det sker en koordinering av aktiviteter och hur detta sker i interaktion över tiden. Avhandlingen kombinerar också de två perspektiven på synergi i förhållande till utvecklingen över tiden. Inom det integrerande företaget kan synergi framstå som planerad i integrationens tidiga faser eller ske framväxande över tiden. I det integrerande företagets relation till andra aktörer kan synergi i relation förekomma genom påverkan i integrationens tidiga faser. Det är något som de integrerande bolagen planerar att genomföra i relation till andra aktörer. Synergi i relation kan över tiden ske i interaktion mellan affärsnätverkets aktörer. Synergi genom interaktion handlar om att det integrerande företaget initierar en förändring genom sammanslagningen och de olika aktörerna anpassar sig över tiden till de förändringar som sker. Anpassning är inte en passivitet utan ett uttryck för både aktion och reaktion. Avslutningsvis diskuteras praktiska implikationer av studien. Vid fusioner och förvärv kan det vara av intresse att beakta vad de integrerande företagens agerande får för konsekvenser i relation till andra aktörer samtidigt som den egna verksamheten utreds. Processmedvetenhet innebär att en kedja av aktiviteter startas och att det kan få betydelse för vilket resultat förändringen får över tiden. Stabilitet och beroenden mellan aktörerna påverkas genom de fusioner och förvärv som sker. Fusioner och förvärv kan fungera som drivkraft för att skapa tillväxt hos andra aktörer. Den operativa verksamheten hos andra aktörer kan också påverkas genom de förändringar som sker i en fusion eller ett förvärv. / Synergy is of fundamental interest in mergers and acquisitions. The point of departure in this thesis is that synergy, both theoretically as well as in practice, is used to describe different types of value creation. Mergers and acquisitions is a frequent phenomenon in business and many actors will be affected by such changes, e.g. employees, company management and owners. Company integrations can be assumed to affect the involved actors in the merger or acquisition. Also other actors such as customers and suppliers can be affected by the change a merger or acquisition creates in the business network. This background is of interest in the study of the relationship between synergy and company integrations. The thesis studies synergy as a concept to enhance the understanding of synergy, within a company and in the integrating companies’ business network. The aim with the thesis is to elaborate on how synergy is implemented in mergers and acquisition and in business relationships with customers and suppliers. Based on mergers and acquisitions among industrial companies the realisation of synergy within a company is analysed. The thesis concludes that synergy is the result of the interplay between creating value, alignment between strategic prioritisations and functional performance. Synergy within a company is something the company management plans and intends to carry out. The integrating companies are at the centre and the intention is to affect the companies’ business environment. In the integrating companies business environment there are actors such as customers and suppliers. These actors are also of interest when studying synergy realisation. Synergy in the business network of a merging or acquiring company can be seen as broadening the concept of synergy. The thesis concludes that synergy as a concept also should include relationships in business networks. Thus, creating synergy includes the integrating companies as well as their business relationships with other actors, such as customers and suppliers. Synergy in business relationships can be seen as the result of how companies adapts to changes in the business network, how the changes affects interdependency among actors, in what extent there is a co-ordination of activities between actors, but most importantly how this is carried out over time. The thesis also combines the two perspectives on synergy with the development over time. Within the integrating companies, synergy appears in two forms, as planned in the early phases of integration and, as emerging over time. In the integrating companies’ business relationship synergy can appear as something planned by the integrating companies to purposely influence other actors. Synergy in business relationships can also appear when different actors adapt over time to these changes. The adaptation is not a passiveness but an expression of action and reaction. For practitioners, consequences of merging and acquiring companies’ integration are of interest to take into account in the business relationship to other actors. Companies need to be aware of the integration process. Mergers and acquisitions start a chain of activities. Over time, this can affect the potential result of the integration. Stability and dependence between different actors are also affected. Mergers and acquisitions can be a driving force for other actors needs to create growth. Other actors operating activities can also be affected by the changes initiated by a merger or an acquisition.

This paper is an in-depth study of business relationships in the Swedish construction industry and how e-commerce applications have affected the matter.  E-commerce applications are being used by all types of industries, while the construction industry lags behind and is currently in the process of implementing such type of systems. Primary data was obtained through four in-depth interviews, three of which were conducted with leading Swedish construction companies, and one with a large supplier to the industry.  The data obtained was analyzed using a series of academic tools such as currnet peer reviewed articles and models covering the topics of business relationships as well as e-commerce applications. Most importantly, the research revealed that communication on levels that affect business relationships has not decreased substantially wit hthe implementation of e-commerce applications.  Secondly, an important aspect and prerequisite for a business relationship is the price of goods traded and geographic positioning.  This may be an industry specific finding, due to both factors' high impact on total cost.  Accordingly, the paper provides a model using the obtained data, as the current academic literature weighs aspects which suppoert the forming of business relationships differently.

Bakgrund: Samarbetet mellan svenska och kinesiska företag har ökat avsevärt i takt med att allt fler svenska företag etablerat sig på den kinesiska marknaden. Detta har lett till ett ökat affärssamarbete mellan de två parterna där nya relationer byggs upp och utvecklas för att få större marknadsandelar.   Problematiskt är dock att det finns tydliga kulturella skillnader mellan Kina och Sverige som medför att det finns många utmaningar som kan påverka affärsrelationen.   Syfte: Syftet är att utreda vilka utmaningar som kan förekomma i affärsrelationer mellan svenska och kinesiska företag samt vilka kulturella drag dessa grundar sig i.   Teori: Den teoretiska grunden utgår från teorier som redogör för kulturella skillnader mellan Sverige i Kina. Fokus ligger vid att få förståelse för de mest betydande kulturdragen inom ländernas affärskulturer för att på så sätt urskilja vilka utmaningar som kan förekomma. Vidare förklaras vilka egenskaper som är viktiga för affärsrelationer samt hur relationerna har förändrats över tid.   Metod: Det tillvägagångssätt som använts bygger en kvalitativ undersökning i form av djupgående semistrukturerade intervjuer. Dessa har genomförts med tre svenska affärsmän som har lång erfarenhet av att leva och arbeta i Kina. Materialet från intervjuerna har kompletterats med rapporter från Sveriges Exportrådet, vilket har bidragit med värdefull information om hur den ekonomiska situationen för svenska företag i Kina ser ut idag.   Resultat och slutsatser: Enligt studien har vi kunnat identifiera sju utmaningar vilka grundar sig i kulturella skillnader mellan Sverige och Kina. Dessa tyder på utmaningar gällande beslutsfattande, chefens roll samt en grundläggande skillnad i synen på pris och kvalitet. Vi har även sett att synen på begreppet relation skiljer sig mellan länderna vilket vi ser har stor påverkan på relationen. / Background: The collaboration between Swedish and Chinese companies has significantly grown as the number of Swedish companies establishing in China has increased. This has resulted in collaborations between companies where new relationships develop in aim to gain bigger market share. One obstacle is the difference in culture between Sweden and China that creates challenges in developing the relationship between the two parties.     Purpose: The purpose of this study is to investigate the challenges that may occur in the business relationship between Swedish and Chinese companies as well as the cultural characteristics that they are based on.   Theory: The theoretical framework proceeds from theories that describe the cultural differences between Sweden and China. The priority is to understand the most significant cultural characteristics within each country’s business culture to be able to distinguish the challenges that can occur. We will further explain the characteristics that are important to business relationships as well as how the relationships have changed over time.   Method: The empirical study is based on a qualitative method in the form of semi-structured interviews from three individuals with long experience of living and working in China. The material from these interviews has been complemented by reports from the Swedish Trade Council, which has provided valuable information about what the economic situation for Swedish companies in China looks like today.   Result and conclusion: According to this study we have identified seven challenges that are based on cultural differences between Sweden and China. These results refer to challenges in decision-making, the role of the manager and fundamental difference when it comes to price and quality. We have also noticed that the concept of relationships differs between the countries, which we believe have a big impact on the business relationship.

The fact that household customers are central in the discussion of future sustainable energy systems compels the Swedish electricity retail companies to provide strategies in order to successfully follow the trends on the electricity market. The purpose of this thesis is to complement the electricity retail companies’ understanding of how they are able to enter a sustainable and close business relationship with these customers. The purpose is fulfilled by the analysis of how relationship concepts impact the development of demand response specifically. The information has been collected through a case study of Smart Customer Gotland, via interviews with people who have great experience from the field and via a survey directed towards the customers. The results indicate that there is a major difference in both of the actors’ visions regarding the relationship. The company desires to enter a position where less support and high customization is available. Customers instead want more personal support because of their lack of knowledge and uncertainty of new systems. To succeed, the companies have to consider the fundamental influencing incentives, economy and comfort, while also maintaining the customers’ trust. The most essential parts of the context specific relationship exchange are product exchange, information exchange, and social exchange. These should be directed towards maintaining and increasing the trust from customers. Focusing the resources earlier used for marketing, on these exchanges to make the current customers more satisfied will open up for using word-of mouth primarily from early adopters. Continued work with these early adopters will also increase companies’ knowledge, which is important for the companies to strategically develop its business towards the market of smart energy solutions.

Made available in DSpace on 2016-12-01T19:18:35Z (GMT). No. of bitstreams: 1 113420.pdf: 624532 bytes, checksum: 845e7714cbd2ade0830911343550ae3a (MD5) Previous issue date: 2013-05-16 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / The relationship between buyer and seller has excelled in a business environment increasingly competitive, in which only a quality product is no longer a guarantee of success. In this scenario, the role of the sales force has been magnified, whose focus is to build lasting relationships between the actors in this process. The relationship between client and salesman is also an important part in the pet shops market. In this study, the client is a veterinarian, a pet shop owner and responsible for the purchase of medicines and vaccines marketed locally. The sales force is formed by sales representatives hired by the distributors of medicines and vaccines. Aiming to analyze the business relationship between them, a qualitative research was conducted with 19 veterinarians from Florianopolis. Also, five supervisors of distributors located in the state of Santa Catarina were interviewed, in order to verify their knowledge in relation to perceptions of veterinarians on existing qualifications in their sales force. For a long-term relationship development with the sales representative, veterinarians consider it important to build a relationship of trust and partnership. The seller needs to be polite, not pushy and empathize. Features related to the sales process as knowing the products, appropriate frequency of visits, constantly available, adapting to the vet s schedules and solving problems were also identified as important. Furthermore, veterinarians expect that representatives have trading conditions and flexibility, receive technical support of the company, working with a trusted brand and quality products. Supervisors have demonstrated knowledge about what is important for the veterinarian to develop a good business relationship with the seller, however, there was the need to give more attention to the personal characteristics valued by veterinarians. From this study, it can be concluded, when there is a long-term relationship, sales representatives act as a positive differential to increase sales of the distributors of vaccines and medicines. / O relacionamento entre comprador e vendedor tem se destacado em um ambiente de negócios cada vez mais competitivo, no qual somente um produto de qualidade não é mais garantia de sucesso. Neste cenário, o papel da força de vendas tem sido ampliado, cujo enfoque é a construção de um relacionamento duradouro entre os atores desse processo. O relacionamento entre cliente e vendedor também é peça importante no mercado de pet shops. Neste estudo, o cliente é o médico veterinário, proprietário de um pet shop e responsável pela compra dos medicamentos e vacinas comercializados no local. A força de venda é formada pelos representantes comerciais, contratados pelas distribuidoras de medicamentos e vacinas. Com o objetivo de analisar o relacionamento de negócios entre eles, realizou-se uma pesquisa qualitativa com 19 veterinários de Florianópolis. Também foram entrevistados cinco supervisores de distribuidoras do estado de Santa Catarina, com o intuito de verificar seu conhecimento em relação às percepções dos médicos veterinários sobre as qualificações existentes em sua força de vendas. Para desenvolver um relacionamento de longo prazo com o representante de vendas, os médicos veterinários consideram importante a construção de uma relação de confiança e parceria. O vendedor precisa ser educado, não insistente e ter empatia.Características relacionadas à venda como conhecer os produtos, ter uma frequência adequada de visitas, estar disponível, adequar-se aos horários do veterinário e resolver problemas também foram apontadas como importantes. Além disso, os veterinários esperam que os representantes tenham condições de negociação e flexibilidade, possuam respaldo técnico da empresa, trabalhem com uma marca de confiança e com produtos de qualidade. Os supervisores demonstraram ter conhecimento sobre o que é importante para o médico veterinário desenvolver um bom relacionamento de negócios com o vendedor, porém, verificou se a necessidade de dar mais atenção às características interpessoais valorizadas pelos veterinários. A partir deste estudo, pode-se concluir que, à medida que se constitui um relacionamento de longo prazo, os representantes de vendas atuam como um diferencial positivo para aumentar as vendas das distribuidoras de vacinas e medicamentos.

O objetivo primordial da presente dissertação é estudar o instituto da cessão fiduciária de créditos e de títulos de crédito, previsto no artigo 66-B da Lei nº 4.728, de 14 de julho de 1965, com a redação dada pela Lei nº 10.931, de 02 de agosto de.2004, e popularmente conhecida como trava bancária, com vistas a identificar as posições da doutrina e jurisprudência quanto ao seu tratamento nas hipóteses de recuperação judicial e falência do devedor-fiduciante. Isto porque, o parágrafo 3º do artigo 49 da Lei nº 11.101, de 09 de fevereiro de 2005 (Lei de Recuperação de Empresas LRE) exclui dos efeitos da recuperação judicial os proprietários fiduciários de bens móveis e imóveis. A maior parte da doutrina e da jurisprudência defende que os titulares de créditos cedidos fiduciariamente estão compreendidos na definição de proprietário fiduciário de bem móvel prevista no referido parágrafo 3º do artigo 49 da LRE e, portanto, estão excluídos dos efeitos da recuperação judicial do devedor-fiduciante. Por outro lado, parte minoritária da doutrina e da jurisprudência defende que o parágrafo 3º do artigo 49 da LRE não menciona expressamente os titulares de crédito cedidos fiduciariamente e, sendo o referido parágrafo exceção à regra de que todos os credores estão sujeitos à recuperação judicial do devedor, sua redação deveria ser interpretada restritivamente, razão pela qual os credores titulares de créditos cedidos fiduciariamente estão sujeitos à recuperação judicial do devedor-fiduciante. A divergência da doutrina e da jurisprudência sobre o tema acaba por acarretar insegurança jurídica quanto ao uso da cessão fiduciária como forma de garantia. De um lado, as instituições financeiras têm dúvidas sobre a real segurança de tal garantia, o que pode comprometer uma eficiente avaliação de risco de crédito, assim como a recuperação do crédito na hipótese de insolvência do devedor. Por outro lado, as empresas em crise têm dúvidas sobre a viabilidade de sua efetiva recuperação, principalmente quando seus maiores credores forem bancos. Por todos esses motivos, entendemos ser de suma importância um estudo aprofundado do referido instituto, bem como uma análise crítica da solução adotada pelo legislador em face dos princípios de preservação da empresa em crise trazidos pela LRE. / The main purpose of this dissertation is to examine the fiduciary assignment of rights on movable assets and of credit instruments, as contemplated in article 66-B of Law No. 4,728, of July 14, 1965, as amended by Law No. 10,931, of August 2, 2004 widely known as bank lock (trava bancária) with a view to identifying the standing of legal scholars and court precedents and their approach in the event of debtors judicial restructuring and/or bankruptcy. This is because the 3rd paragraph of article 49 of Law No. 11,101 of February 9, 2005 (Judicial Restructuring Law LRE) determines that the fiduciary owners of movable and immovable assets are no longer subject to the effects of their debtors judicial restructuring. Most legal scholars and court precedents sustain that holders of credits assigned on a fiduciary basis fall under the category of fiduciary owner of movable assets, as established by such 3rd paragraph of article 49 of LRE and, therefore, are not subject to the debtors judicial restructuring. On the other hand, a small number of legal scholars and court precedents sustain that the 3rd paragraph of article 49 of LRE contains no express reference to holders of credits assigned on a fiduciary basis and, given that such paragraph is an exception to the general rule that all creditors are subject to the debtors judicial restructuring, its wording ought to be construed restrictively, for which reason such holders of the credits assigned on a fiduciary basis would be subject to the debtors judicial restructuring. Diverging views among legal scholars and court precedents on the matter bring about legal uncertainty as to the use of the fiduciary assignment of credits as a form of security. Financial institutions, on the one hand, are skeptical about the actual effectiveness of such form of security and that alone might impair the efficient assessment of the credit risk and the recovery of credits in the event of the debtors insolvency. On the other hand, companies undergoing financial crisis question the feasibility of an effective restructuring, particularly if their major creditors are banks. For all those reasons, it is important to look into the fiduciary assignment of credits and critically analyze the solution adopted by the lawmakers vis-à-vis the principles of preserving companies in crises as introduced by the LRE.