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No. of bitstreams: 1 mazin_ad_me_ippri_int.pdf: 1546018 bytes, checksum: f7e4d8a3d680bf08e5187562c5d6dfcf (MD5) Previous issue date: 2016-08-05 / Em um contexto de dominação do espaço, o modo de produção capitalista desenvolve mecanismos para movimentar-se na busca da realização de seu principal objetivo: a valorização do valor. Nesse contexto de internacionalização, próprio da fase atual do sistema capitalista, empresas exportam seu capital para qualquer parte do mundo, com o intuito de encontrar as melhores condições para extraírem mais valia. Esse fenômeno foi caracterizado por Lênin como “fase imperialista do capitalismo”. A partir do primeiro governo Lula – PT, se desenvolvem condições favoráveis para empresas brasileiras acumularem capitais, fruto de desenvolvimento conjuntural da economia global, onde o Brasil consegue acumular capitais devido à alta dos preços dos commodities. Devido ao crescimento histórico da China, um dos principais compradores da produção agrícola e mineral brasileira, se desenvolvem condições de crescimento da economia, o que permite um acúmulo de capital, que posteriormente será revertido para a expansão de empresas brasileiras. Assim, há um processo que permite a exportação de capitais brasileiros e associados, financiada pelo BNDES – Banco Nacional de Desenvolvimento Econômico e Social, que se expandem para outros “territórios”, com o intuito de acumularem capital, sendo o Paraguai um dos destinos dessas exportações. Entretanto, é a partir do primeiro mandato de Dilma Rousseff, concomitante com o golpe que sofre o governo Fernando Lugo no Paraguai, que os volumes de exportações de capitais brasileiros para o Paraguai ganham uma dinâmica considerável, especificamente entre 2012 e 2014. Este trabalho busca compreender as motivações de tais empresas em exportarem capitais para o Paraguai; os mecanismos desenvolvidos para que esse movimento se realize nas melhores condições possíveis para o capital; realização de um mapeamento de quais empresas brasileiras estão inseridas nesse processo, também denominado internacionalização. A implantação de empresas maquiladoras no Paraguai, com a “ley de maquilas”, foi um dos mecanismos desenvolvidos pelo capital, que apresenta as melhores condições para extraírem ao máximo os recursos naturais daquele país, explorarem a força de trabalho ao máximo, e assegurarem mercados para exportarem as mercadorias. / Under a context of territorial domination, the capitalist mode of production develops mechanisms to move up in the pursuit of achieving its main objective: valorize value. In this context of internationalization, as part of the current phase of the capitalist system, companies export their capital to anywhere in the world, in order to find the best conditions to extract surplus value. This phenomenon was characterized by Lenin as "imperialist stage of capitalism." From the first government Lula – PT, favorable conditions are developed for Brazilian companies accumulate capital, result of a conjectural development of the global economy, where Brazil can accumulate capital due to the high prices of commodities. Due to the historical growth of China, one of the main buyers of Brazilian agricultural and mineral production, develop conditions economy growth, allowing an accumulation of capital, that will subsequently be reverted on the expansion of Brazilian companies. So there is a process that allowing the export of Brazilian and associated capital, financed by BNDES - National Bank for Economic and Social Development, which expand to other "territories", in order to accumulate capital, being Paraguay one of these exports destinations. However, it is from the first term of Dilma Rousseff, concomitant with coup d’etat suffered by the government of Fernando Lugo in Paraguay, the volume of exported Brazilian capital to Paraguay gain considerable increase, specifically between 2012 and 2014. This research seeks to understand the motivations of such companies in export capital to Paraguay; the mechanisms developed so that this movement takes place in the best possible conditions for capital; performing a mapping of which Brazilian companies are inserted in this process, also called internationalization. The growth of maquilas in Paraguay, with the "Maquila Law" was one of the mechanisms developed by capital, which has the best conditions to extract the natural resources of that country at maximum, exploiting the workforce to the maximum, and ensure markets for export goods. / En un contexto de dominación del espacio, el modo de producción capitalista desarrolla mecanismos para moverse en busca de la realización de su principal objetivo: la valorización del valor. En este contexto de internacionalización, propio de la fase actual del sistema capitalista, las empresas exportan su capital para cualquier parte del mundo, con el intuito de encontrar las mejores condiciones para extraer plusvalía . Ese fenómeno fue caracterizado por Lenin como "fase imperialista del capitalismo". A partir del primer gobierno de Lula - PT, se desarrollaron condiciones favorables para que empresas brasileñas acumulasen capitales, debido al alza de los precios de los commodities. Debido al crecimiento histórico de China, uno de los principales compradores de la producción agrícola y mineral brasileña, se desarrollan condiciones de crecimiento de la economía, lo que permite una acumulación de capital que posteriormente será revertido para la expansión de empresas brasileñas. Así, hay un proceso que permite la exportación de capitales brasileños y asociados, financiada por el BNDES - Banco Nacional de Desarrollo Económico y Social, que se e expanden para otros "territorios", con el intuito de acumular capital, y es Paraguay uno de los destinos de esas exportaciones. Pero es a partir del primer mandato de Dilma Rousseff, concomitante con el golpe que sufre el gobierno de Fernando Lugo en Paraguay, cuando el volumen de exportaciones de capitales brasileños para Paraguay alcanzan una dinámica considerable, específicamente entre 2012 y 2014. Este trabajo busca comprender las motivaciones de esas empresas para exportar capitales a Paraguay; los mecanismos desarrollados para que ese movimiento se realice en las mejores condiciones posibles para el capital; realización de un relevamiento de las empresas brasileñas inseridas en ese proceso, también denominado internacionalización. La implantación de maquilas en Paraguay, con la "ley de maquilas", fue uno de los mecanismos desarrollados por el capital, que presenta las mejores condiciones para extraer al máximo los recursos naturales de aquel país, explotar la fuerza de trabajo al máximo, y asegurar mercados para exportar las mercaderías.

Orientador: Silvia Beatriz Adoue / Resumo: Em um contexto de dominação do espaço, o modo de produção capitalista desenvolve mecanismos para movimentar-se na busca da realização de seu principal objetivo: a valorização do valor. Nesse contexto de internacionalização, próprio da fase atual do sistema capitalista, empresas exportam seu capital para qualquer parte do mundo, com o intuito de encontrar as melhores condições para extraírem mais valia. Esse fenômeno foi caracterizado por Lênin como “fase imperialista do capitalismo”. A partir do primeiro governo Lula – PT, se desenvolvem condições favoráveis para empresas brasileiras acumularem capitais, fruto de desenvolvimento conjuntural da economia global, onde o Brasil consegue acumular capitais devido à alta dos preços dos commodities. Devido ao crescimento histórico da China, um dos principais compradores da produção agrícola e mineral brasileira, se desenvolvem condições de crescimento da economia, o que permite um acúmulo de capital, que posteriormente será revertido para a expansão de empresas brasileiras. Assim, há um processo que permite a exportação de capitais brasileiros e associados, financiada pelo BNDES – Banco Nacional de Desenvolvimento Econômico e Social, que se expandem para outros “territórios”, com o intuito de acumularem capital, sendo o Paraguai um dos destinos dessas exportações. Entretanto, é a partir do primeiro mandato de Dilma Rousseff, concomitante com o golpe que sofre o governo Fernando Lugo no Paraguai, que os volumes de exportações de capit... (Resumo completo, clicar acesso eletrônico abaixo) / Resumen: En un contexto de dominación del espacio, el modo de producción capitalista desarrolla mecanismos para moverse en busca de la realización de su principal objetivo: la valorización del valor. En este contexto de internacionalización, propio de la fase actual del sistema capitalista, las empresas exportan su capital para cualquier parte del mundo, con el intuito de encontrar las mejores condiciones para extraer plusvalía . Ese fenómeno fue caracterizado por Lenin como "fase imperialista del capitalismo". A partir del primer gobierno de Lula - PT, se desarrollaron condiciones favorables para que empresas brasileñas acumulasen capitales, debido al alza de los precios de los commodities. Debido al crecimiento histórico de China, uno de los principales compradores de la producción agrícola y mineral brasileña, se desarrollan condiciones de crecimiento de la economía, lo que permite una acumulación de capital que posteriormente será revertido para la expansión de empresas brasileñas. Así, hay un proceso que permite la exportación de capitales brasileños y asociados, financiada por el BNDES - Banco Nacional de Desarrollo Económico y Social, que se e expanden para otros "territorios", con el intuito de acumular capital, y es Paraguay uno de los destinos de esas exportaciones. Pero es a partir del primer mandato de Dilma Rousseff, concomitante con el golpe que sufre el gobierno de Fernando Lugo en Paraguay, cuando el volumen de exportaciones de capitales brasileños para Paraguay alcanz... (Resumen completo clicar acceso eletrônico abajo) / Abstract: Under a context of territorial domination, the capitalist mode of production develops mechanisms to move up in the pursuit of achieving its main objective: valorize value. In this context of internationalization, as part of the current phase of the capitalist system, companies export their capital to anywhere in the world, in order to find the best conditions to extract surplus value. This phenomenon was characterized by Lenin as "imperialist stage of capitalism." From the first government Lula – PT, favorable conditions are developed for Brazilian companies accumulate capital, result of a conjectural development of the global economy, where Brazil can accumulate capital due to the high prices of commodities. Due to the historical growth of China, one of the main buyers of Brazilian agricultural and mineral production, develop conditions economy growth, allowing an accumulation of capital, that will subsequently be reverted on the expansion of Brazilian companies. So there is a process that allowing the export of Brazilian and associated capital, financed by BNDES - National Bank for Economic and Social Development, which expand to other "territories", in order to accumulate capital, being Paraguay one of these exports destinations. However, it is from the first term of Dilma Rousseff, concomitant with coup d’etat suffered by the government of Fernando Lugo in Paraguay, the volume of exported Brazilian capital to Paraguay gain considerable increase, specifically between 2012 ... (Complete abstract click electronic access below) / Mestre

Using human capital theory and social capital theory, I develop a model to explain the circumstances surrounding outside director appointments, patterns of outside board affiliations and outside director exits. I investigate why individuals become outside directors, why they continue to serve as directors after appointment, and why they terminate their service on boards. I find that an executive's home firm career and prestigious affiliations predict the likelihood and patterns of outside directorship service. Outside directors are critical to effective corporate governance, and to understand the board-governance process we need a better understanding of outside director service.

Estimating tail risk measures such as Value at Risk (VaR) and Conditional Tail Expectation (CTE) is a vital component in financial and actuarial risk management. The CTE is a preferred risk measure, due to coherence and a widespread acceptance in actuarial community. In particular we focus on the estimation of the CTE using both parametric and nonparametric approaches. In parametric case the conditional tail expectation and variance are analytically derived for the exponential distribution family and its transformed distributions. For small i.i.d. samples the exact bootstrap (EB) and the influence function are used as nonparametric methods in estimating the bias and the the variance of the empirical CTE. In particular, it is shown that the bias is corrected using the bootstrap for the CTE case. In variance estimation the influence function of the bootstrapped quantile is derived, and can be used to estimate the variance of any bootstrapped L-estimator without simulations, including the VaR and the CTE, via the nonparametric delta method. An industry model are provided by applying theoretical findings on the bias and the variance of the estimated CTE. Finally a new capital allocation method is proposed. Inspired by the allocation of the solvency exchange option by Sherris (2006), this method resembles the CTE allocation in its form and properties, but has its own unique features, such as managerbased decomposition. Through a numerical example the proposed allocation is shown to fail the no undercut axiom, but we argue that this axiom may not be aligned with the economic reality.

Whether entrepreneurial opportunity is objectively existed or it could be deliberately created is still a disputable issue in academic filed. However, increasing number of scholars tend to conclude that entrepreneurial opportunity comes from a process of recognition, discovery and creation by alerted entrepreneurs. Based on this point, it seems to be obvious that entrepreneurs must have some kind of knowledge and abilities, poses special source of information and involved in certain social networks. So that they can easily find those opportunities that other can¡¦t. In this study, I apply Ardichivili¡¦s(2003) opportunity identification and development theory to discuss this issue through a viewpoint of human capital and social capital. Seven entrepreneurs were interviewed to conduct the survey, and the content is analyzed through six coding unit to show the following results: 1. The general human capital is intermediately positive to opportunity recognition and highly positive to opportunity development. 2. The specific human capital is highly positive to both opportunity recognition and opportunity development. 3. The weak-tie network is highly positive to opportunity recognition but low positive to opportunity development. 4. The strong-tie network is highly positive to both opportunity recognition and opportunity development. 5. Entrepreneurial human capital is mediated by social capital to have positive effects on opportunity recognition and opportunity development.

Using human capital theory and social capital theory, I develop a model to explain the circumstances surrounding outside director appointments, patterns of outside board affiliations and outside director exits. I investigate why individuals become outside directors, why they continue to serve as directors after appointment, and why they terminate their service on boards. I find that an executive's home firm career and prestigious affiliations predict the likelihood and patterns of outside directorship service. Outside directors are critical to effective corporate governance, and to understand the board-governance process we need a better understanding of outside director service.

Thesis (M.C.A.)--Victoria University of Wellington, 2009. / Includes bibliographical references.

In recent years young entrepreneurs have attracted considerable attention from policy makers and the media, and there is evidence that increasingly many young people aspire to start their own business. However, there has been little research into how young entrepreneurs actually build their businesses, and the limited existing research about young entrepreneurs has tended to focus on participants who have struggled to achieve business survival and growth. By contrast, this thesis investigates how young entrepreneurs are able to build high performing businesses. All participants have built a business with a turnover between £1 million and £90 million or otherwise raised at least £1 million in external investment. It takes a qualitative approach, based primarily on semi-structured interviewing, to understanding the knowledge and skills 21 young entrepreneurs used to build their businesses. It uses a human capital theory framework to analyse how the young entrepreneurs developed relevant knowledge and skills prior to start-up in order to build a business. It then considers what additional human and social capital the young entrepreneurs acquired during the venture creation process itself. The findings identify three different pathways, each of which typifies the human capital used by particular young entrepreneurs, according to their educational background and the precise age at which they started their business. The study also establishes the necessary human capital which all of the young entrepreneurs developed prior to start-up or during the early stages of starting their ventures, which was important to their success in growing a business. The study finally contributes to the debate about whether general human capital or venture-specific human capital is most important to entrepreneurs, finding that for young entrepreneurs developing pre-start-up general human capital is particularly significant.

Cette recherche porte sur les processus de partage et d’utilisation de l’argent transféré par les émigrés sénégalais à leurs familles. La théorie de l’action rationnelle, soutient que l’individu est libre et qu’il établit son choix uniquement en fonction de son intérêt (Coleman1990). Si nous nous basons sur cette théorie, nous reconnaitrons que l’individu ne penserait qu’à atteindre ses objectifs pour la maximalisation de ses gains. En étudiant les processus de partage et d’utilisation des fonds transférés par les émigrés sénégalais à leurs familles restées au pays, nous voulons découvrir si l’explication que nous attribuons à l’action dans la décision est uniquement utilitariste. L’acquisition des fonds par les familles réceptrices contribue au capital social et au capital humain du pays. Cependant, nous nous demanderons comment les familles sont affectées par les processus décisionnels? L’objectif de cette étude consiste à examiner les éléments discursifs qui interfèrent dans la reconnaissance de l’action rationnelle des acteurs. Il importe alors de se demander si le processus décisionnel de la répartition et de l’usage de l’argent transféré par les émigrés sénégalais à leurs familles répond entièrement à une rationalité instrumentale. Afin trouver réponse à nos interrogations, nous retenons une approche qualitative assez bien indiquée dans la recherche de la compréhension des faits sociaux. Nous avons effectué quinze entrevues semi-directives avec des répondantes mariées appartenant à des familles sénégalaises habitant le quartier de la Médina. Elles ont été sélectionnées parce qu’elles reçoivent directement ou indirectement des fonds transférés par les émigrés sénégalais. Les effets économiques et sociaux individuels ou collectifs liés aux fonds transférés font l’objet de réflexions par rapport aux motivations de l’action. Étant donné que les principaux acteurs représentant les émigrés et les bénéficiaires de ces sources financières ne détiennent pas un total contrôle en ce qui a trait à iv la répartition et à l’utilisation des fonds. Les effets économiques et sociaux induits par ces fonds transférés, font l’objet de questionnement par rapport aux directives initiales.

This report aims primarily at analyzing working capital management in non-profit organizations. Since most non-profit organizations experience financial difficulty in the short-term, an evaluation is conducted with regard to the components that make up working capital. Five organizations were analyzed, in order to identify if these problems are uniform, cyclical or unrelated occurrences. To prevent inconsistencies the organizations that were analyzed operate in similar environments and provide similar services. This study was prompted by the ever-changing economic conditions in the country and the effect that they have on non-profit organizations' survival. Based on this, a short-term financial perspective was undertaken and the effects of working capital management were analyzed. This was further elaborated by the fact that non-profit organizations are finding it difficult to bridge the discrepancies between revenue and expenditure, which was substantiated by Braswel et. al, (1984). A case study methodology approach was adopted which identified financial theory as a base; thereafter, an analysis was conducted of the organizations' financial statements. Once this was completed, a survey was undertaken with all financial decision-makers. Thereafter, an interview was conducted with financial managers to establish the effective management of working capital. Based on these methods, conclusions were drawn and recommendations made, so that corrective action could be taken to eliminate or reduce the recurrence of these problems. The aim of this study is to provide non-profit organizations with greater understanding of financial planning models and techniques, which would aid them in their management of working capital. / Thesis (MBA)-University of KwaZulu-Natal, 2004.