Les avocats et les notaires sont soumis au même régime de responsabilité civile lorsqu'ils exercent l'activité de rédacteur d'acte pour autrui. Ce qui fait la singularité des deux professions, à savoir la qualité d'officier public du notaire et d'auxiliaire de justice de l'avocat, a été indument pris en considération pour expliquer les obligations qui pèsent sur le rédacteur. La rédaction d'acte représente u n marché sur lequel interviennent divers professionnels habilités, au premier rang desquels figurent les avocats et les notaires.Toute personne prenant part, même partiellement, à la réalisation de l'instrumentum, est donc tenue des mêmes obligations.Ces obligations constituent, selon les propres termes de la Cour de cassation, un véritable statut en ce qu'elles sont articulées de manière cohérente autour d'une finalité unique : l'efficacité de l'acte, entendue comme son aptitude à traduire fidèlement et utilement les besoins des parties. C'est ce devoir d'efficacité qui fonde toutes les obligations imposées au rédacteur et, en premier lieu, l'obligation de conseil.Par ailleurs, le contenu de ce statut ne doit rien au contrat qui se borne à en déclencher l'application. Il importe donc peu que l'on persiste plus ou moins artificiellement à nier l'existence d'un contrat entre le notaire et son client. La responsabilité du rédacteur est la même, qu'elle soit fondée sur l'article 1382 ou sur l'article 1147 du code civil.Enfin, la mise en œuvre de la responsabilité civile des rédacteurs n'est, pour l'essentiel, qu'une application des principes du droit commun de la responsabilité, ce qui explique qu'elle ne diffère pas selon que le rédacteur est un notaire ou un avocat. Qu'il soit client d'un notaire ou d'un avocat, le demandeur doit démontrer le même type de faute, peut demander réparation des mêmes préjudices et doit agir dans les mêmes délais. / Lawyers and notaries are subject to the same civil responsibilities when they act as document copywriter for other people. This idea has taken time to be accepted in jurisprudence and even struggles to be accepted in publications for one simple reason. The distinction between the roles of the lawyer and the attorney (the lawyer's role as a “public officer” in justice and the notary's role as “auxiliary” in justice) is often unnecessarily cited in explaining the obligations of the copywriter.Today, the requirements are very clear. The copywriting of a document involves several different professionals, most importantly lawyers and notaries, who are the only professionals who can take the leading role. According to the Law of 31 December 1990, the Supreme Court of Appeal adopts a consumerist perspective and considers this copywriting service as a product, meaning that it must have both quality and protection aspects. The Supreme Court of Appeal defines the details of the service provided by the copywriter, without indicating whether he is a lawyer or a notary.Any person taking the role of copywriter, i.e. any person who participates, even partially, in the preparation of the instrumentum, therefore has the same obligations.These obligations represent a real engagement, according to the terms defined by the Supreme Court of Appeal, as they are expressed in a coherent manner with a specific goal: an effective instrument, in terms of its faithful and effective expression of the needs of the parties. This obligation of effectiveness defines the obligations imposed on the copywriter, and also the obligations as advisor. In addition, the legal obligations of this role are not defined or limited by the contract itself. This has little impact on the supposed non-existence of a contract between the notary and his client. The responsibility of the copywriter is the same, whether it is defined by article 1382 or article 1147 of the civil code.Effectively, the civil responsibility of the copywriter is essentially only an application of the common law principles of responsibility, which explains why there is no difference in the responsibilities if the editor is a lawyer or a notary. Whether the client goes to a lawyer or a notary, the instrument must indicate the same types of offence, can ask for redress for the same injuries and must be actioned within the same deadlines.

The purpose of this thesis is to investigate merger failure rate and critical success factors that lie behind outcome of mergers. Based on many influential papers and studies it has been identified that mergers and M&A in general have high failure rate. After the literature research in M&A definition, history and studies already conducted in this field the own research is employed in order to achieve the main objective of this thesis. The quantitative research is conducted on mergers con-ducted from 2007 to 2010 in the Czech Republic. The qualitative analysis consists of semi-structured interviews with experts in M&A field.

Submitted by Jonatas Porto de Castro (jonatasjk@hotmail.com) on 2017-07-10T17:14:07Z No. of bitstreams: 1 Tese Jonatas Castro FGV Junho 17.pdf: 260254 bytes, checksum: 7b90c9c54a053cfa608ce7cd141e0ade (MD5) / Rejected by Joana Martorini (joana.martorini@fgv.br), reason: JONATAS, BOA TARDE. SEU TRABALHO FOI REJEITADO DEVIDO ESTAR FALTANDO A PAGINA ONDE CONSTA O ABSTRAT, LOGO EM SEGUIDA A PAGINA DO RESUMO. PEÇO QUE INCLUIA E SUBMETA NOVAMENTE PARA APROVAÇÃO. ATT, JOANA MARTORINI 3799-7892 on 2017-07-10T17:51:50Z (GMT) / Submitted by Jonatas Porto de Castro (jonatasjk@hotmail.com) on 2017-07-10T21:06:20Z No. of bitstreams: 1 Tese Jonatas Castro FGV Junho 17.pdf: 263132 bytes, checksum: a8018a092af85ec6c4f24adcf33f0f4f (MD5) / Approved for entry into archive by Joana Martorini (joana.martorini@fgv.br) on 2017-07-11T13:07:59Z (GMT) No. of bitstreams: 1 Tese Jonatas Castro FGV Junho 17.pdf: 263132 bytes, checksum: a8018a092af85ec6c4f24adcf33f0f4f (MD5) / Made available in DSpace on 2017-07-11T13:44:29Z (GMT). No. of bitstreams: 1 Tese Jonatas Castro FGV Junho 17.pdf: 263132 bytes, checksum: a8018a092af85ec6c4f24adcf33f0f4f (MD5) Previous issue date: 2017-06-19 / This paper’s purpose is to explain the allocations made by fund of funds managers in third-party hedge funds, through a model using public information. Public data such as returns, net inflows, assets under management, ANBIMA classification, administration fee, and others were used as explanatory variables to explain the amount allocated in each hedge fund as a percentage of total AUM allocated in third-party hedge funds. After testing several models, the conclusion is that funds with good 24 months performance, managed by independent firms, with positive net flows in the last 12 months and with high volume of assets under management may have better odds of allocation from fund of fund managers. Thus, variables mentioned above are significant for the estimation of fund of funds allocations in third-party hedge funds. The paper leaves room for further Model developments in order to identify omitted variables. As the information used was the available public data, a second stage is enhancing the Model with qualitative data collected from face-to-face Due Diligences. / O objetivo deste trabalho é explicar as motivações por trás das alocações feitas por gestores de fundos de fundos em veículos multimercados de terceiros através de um Modelo que utiliza dados disponíveis para o público em geral. Dados públicos como: retorno, captação, patrimônio, classificação ANBIMA, taxa de administração etc. foram usados como variáveis explicativas do Modelo e a variável a ser explicada é o valor alocado em cada fundo multimercado em percentual do total de recursos alocados em fundos multimercados de terceiros. Depois de testados diversos Modelos, a conclusão é que fundos com bom desempenho em 24 meses, geridos por empresas independentes, com captação positiva em 12 meses e patrimônio elevado, podem ter melhores chances de receber recursos oriundos de alocadores ou gestores de fundos de fundos, em outras palavras, as variáveis citadas acima são significativas na estimação de alocação de fundos de fundos em fundos multimercados. O trabalho deixa espaço para avanços no Modelo e identificação de variáveis omitidas. Como foram utilizados dados disponíveis ao publico em geral, uma segunda etapa seria completar o Modelo mapeando dados qualitativos extraídos de uma Due Diligence presencial.

The recipient in communication is influenced by many complex phenomena through which he or she subconsciously evaluates some personality traits of the speaker. In the current study we are dealing with the question of whether phonetic features also enter into this personal evaluation and how much they can influence perception. As research material we used recordings of 20 speakers 11-15 years old, from which 80 audio items were selected. The items varied by their length (two-syllables vs. four-syllables), existence in the lexicon of the Czech language (real words vs. non-words) and also in the number of speech problems that occurred in them (reduction, assimilation, non-continuous speech etc.). These problematic moments were identified before the creation of the perceptual test and scored by the author of the study and by another student of phonetics. These score points served as the basis for an objective phonetic evaluation, which was later related to the assessment from the respondents. The perceptual test (with versions A and B) was made up of 40 items and was divided into 5 parts according to questions which were concerned with different angles such as the personality traits of diligence and acceptability. These features are part of the Five-Factor Model of Personality and can be included under...

Master Thesis in Business Administration Title:           Due Diligence in Cross-border M&As - Top management team´s human capital affecting speed of due diligence process Authors:       Jürgen Sabernik and Matti Salakka Tutor:          Tommaso Minola, Ph.D. Date:           2018-05-21 Key Terms:   Mergers & Acquisitions, Due Diligence, Speed, Cross-border, Human Capital, Top Management Team   Abstract Problem:       Globalization and market saturation are a constant influence for all the participating businesses in the markets. Therefore, companies of all various sizes are considering mergers & acquisitions to either consolidate the market, use it as a market growth opportunity or entry strategy into a new market or even country. Due to these multidimensional processes, many of the attempted M&As fail. Practitioners tend to focus only on financial or legal characteristics when considering to acquire and afterwards merge the target company, which results into failed M&A process. Accordingly, multifaceted phenomena such as M&As should not be only assessed on two dimensions, they should rather be evaluated as a whole with a dynamic due diligence process along the M&A. Purpose:     The purpose of this thesis is to investigate the speed of dynamic due diligence process in cross-border mergers and acquisitions and what effect the human capital of an organization’s top management has on it. Method:     For this thesis, we utilize a qualitative research based on a multiple case study approach. Therefore, we investigated four case companies within different industries in the Finnish context. The primary empirical data was collected through semi-structured interviews with guidance from a topic guide, in addition we also used company information such as annual reports or the company websites as secondary data. The derived statements are based on the findings, which were categorized and afterwards adopted as a basis for the analysis. Findings:       The findings of this thesis are that the human capital factors affect the speed of the due diligence process in cross-border mergers and acquisitions via four themes; (1) business environment, (2) market knowledge, (3) inter-organizational leadership and (4) individual skills. The themes can affect the speed directly, but more importantly through the interplay of different themes.  Conclusion:    In conjunction with various authors mentioned in this thesis, we also come to the conclusion that a dynamic due diligence process is contributional in order to grasp the multidimensionality of mergers & acquisitions. Additionally, the context where the individual M&A is happening is playing a major role within the evaluation process. Hence, top management team’s human capital has an impact on the speed of dynamic DD process in cross-border M&As via the four above mentioned themes.

The masters thesis on due diligence focuses on the practical use of due diligence. The aim of this thesis is to identify risks for the investor, examples of adjustments to EBITDA, net debt and net working capital and calculate the value of the target company compared to the value offered by the real investor on the market.

The aim of this thesis is to describe a process of audit and due diligence of an accounting entity. The work is devided into two parts, the first part is theoretical and the second one is practical. The theoretical part is focused on description of audit including audits procedures. This part is followed by determination of due diligence, which continues with differences and comparison of both these processes. Within practical part audit of financial statements and process of due diligence are performed in different accounting entities.

Crowdfunding innebär ett insamlande av kapital från stora mängder individer, oftast med små belopp vardera, utan användandet av traditionella finansiella mellanhänder. Crowdfunding som investerings- och finansieringsalternativ växte fram efter finanskrisen 2007/2008 då det blev svårare för företagen att få finansiering från restriktiva banker. Med grund i crowdfundingmarknadens novelitet och att företagen som bedriver en crowdfundingkampanj i många fall är små och nystartade, framstår crowdfunding som en riskfylld investeringsform som medför problem för investerare. Nya investeringsbeteenden har uppmärksammats hos generationen millennials där osäkerhet råder huruvida millennials beteende och preferenser liknar tidigare generationer. Studien ämnar därav att utreda vilka problemområden som existerar vid investering i equity-crowdfunding, samt vad som påverkar millennials inför investeringsbeslutet. Studien anammar en kvalitativ metod och omfattar totalt tio intervjuer, varav sju intervjuer med millennialinvesterare (födda mellan 1980-2000) som vardera gjort minst en investering i en equity-crowdfundingkampanj, två intervjuer med yrkesverksamma private equity- managers från Swedbank och Skandia, och en intervju med Nordeas ansvarige för utveckling av Nordeas egen crowdfundingplattform. Studien resulterar i en identifiering av framstående problemområden vid equity-crowdfunding. Problemområden inkluderar ett informationsasymmetriskt underläge för investeraren som gör investeraren motvillig att investera stora belopp. Crowdfundings små investeringsbelopp påverkar mängden utförd due diligence och rationaliteten av due diligence förvrängs av flockbeteendet crowdförtroende, där investerarna förlitar sig på varandras bedömningar och i en form av fear of missing out investerar irrationellt. Millennialgenerationen premierar investeringar där en personlig koppling finns och generationen använder sig av sociala medier för att utvärdera företagen och ägarna. Adverse selection identifieras som ett konkret problem inom crowdfunding gällande equity-crowdfundingkampanjer och studien rekommenderar att lagstiftning bör fattas för att minska det informationsasymmetriska underläget. Studien bidrar med begreppsutveckling och ökad förståelse för equity-crowdfunding och dess olika problemområden, samt uppmärksammar millennialgenerationens förändrade investeringsbeteende. / Crowdfunding is a rising mass funding concept, where a large number of investors each contribute with a small amount, without using standard financial intermediaries. Crowdfunding as an investment and financing alternative started developing after the subprime crisis in 2007/2008. During this period, the economic situation was in decline and banks financing more restrictive. Due to the novel crowdfunding market and the primarily young companies that conduct crowdfunding campaigns, crowdfunding as an investing alternative is considered high risk and uncertain, and entails considerable problems for the investors. New investing behaviour has been recognized in the millennial generation and it is unclear whether they have the same behaviour and preferences as previous generations. The purpose of this study is thereby to examine which problematic areas exist when investing in equity-crowdfunding and what affects millennials investment decision. The study takes on a qualitative method by conducting a total of 10 interviews: seven interviews with millennial investors (born between 1980-2000) who have completed at least one equity-crowdfunding investment, two interviews with professional private equity- managers from Swedbank and Skandia, and one interview with Nordeas Head of Alternative Finance responsible for the development of their crowdfunding platform. The study identifies prominent problematic areas when investing in equity-crowdfunding. An information asymmetric substandard shows impact on the investors’ willingness to invest and especially to invest larger amounts. The small amount invested affects the level of performed due diligence, and wherein the rationality of due diligence is perverted by the heard behaviour crowd trust. Crowd trust is the phenomena where investors rely on each other as quality signals, and due to a fear of missing out, invest irrational. The millennial generation is shown to prefer investments where they have a personal connection with the company or product, and millennials primary source of due diligence is through social media. Adverse selection is identified as a concrete problem in equity-crowdfunding and the study proposes that legislation can reduce the information asymmetric problem. The study contributes with an increased understanding for equity-crowdfunding and its problematic areas, but also with added knowledge for the millennial generation and its investing behaviour.

No abstract / Mini Dissertation (LLM)--University of Pretoria, 2019. / Public Law / LLM / Unrestricted

Purpose - The purpose of this study is to identify and describe how B2B salespeople utilize social media when prospecting for new customers based on a sequential sales process.Design/methodology/approach - The study employs an interpretive approach as it attempts to convey a phenomenon through the eyes of the participants. The data is derived from six participants collected through semi-structured interviews. The thematic analysis aids to decipher patterns in the data and display these descriptive and narratively.Findings - The study identified four themes of social media use when prospecting for new customers. Further, the study suggests that salespeople are using social media to identify and qualify the prospects and their competencies in a networking manner and consequently follow the key targets of interest in order to initiate possibilities for offering customized solutions or adapt their approach accordingly.Research limitations/implications - The findings describes prospecting on social media through identified themes and points to new techniques to obtain information regarding prospects. This study opens up for future research in order to strengthen the newly discovered themes and its underlying forces.Managerial implications - The study reveals that prospecting techniques on social media are exercised and fueled by a salesperson's own intuition. This should be considered by the management as the employees’ intuition may depart from a company’s core strategy and values.Originality/value - No studies has examined how prospecting is carried out in practice on social media. The empirical findings in this study provide a new suggestion of how social media is used by salespeople and accordingly contributes to current sales literature by adding four descriptive themes of prospecting on social media.