Thesis (M.S.)--University of Wisconsin--Madison, 1963. / Typescript. eContent provider-neutral record in process. Description based on print version record. Includes bibliographical references (leaves 134-138).

Although diverse methods/models have been studied and applied in general retail location areas, very few actually related to an important trade sector - Cash & Carry/Warehouse Club. Because of the distinguishing characteristics of this sector, the methods and models successfully used in other sectors cannot be simply transferred. To solve this problem, a thorough study has been conducted to compare the characteristics of the sector with available methods/models. Based on the outcome of this study, the regression model has been identified to be a better choice for the sector. Multiple key regression issues, such as model selection, trade area definition, overfilling and multicol linearity, measurement of competitiveness, subjective judgements and quantitative modelling, etc., have been explored in the configuration of a regression model for the sector. The resulting model based on the data from a British Cash & Carry company has achieved the highest R2 and R 2 (adj) when compared to similar research (based on literature search up to the year 2003). With the emergence of Geographic Information System (GIS), a powerful spatial information analysis tool, retail location enters the era of the use of Spatial Decision Support System technology to enhance the decision efficiency. Meanwhile, a dynamic location analysis system is important and necessary to retailers. This is why a Spatial-DSS is proposed and designed in the thesis. The designed system integrates technologies such as Database Management Systems (DBMS), Statistics Software, Geographic Information Systems (GIS), Global Positioning System (GPS), Analytic Hierarchy Process (AHP), Decision Support Systems (DSS) and others. Although these technologies have been used in various areas before, integrating them to form a coherent unity is new.

El principal objetivo de la presente investigación es promover, intensificar, dilucidar qué criterios deben considerar los inversionistas para estimar de manera adecuada la tasa de descuento a utilizar, en función a los diversos sectores económicos, el entorno en la que se desarrollará la actividad a invertir, además de considerar el plazo del proyecto. Asimismo, es imprescindible recalcar que, a pesar de no existir en la actualidad una tasa de descuento determinante en el mercado, es vital y preponderante que los inversores, evaluadores, etc., estimen tasas reales, aterrizadas en función a la información derivada del análisis del proyecto o inversión a realizar, más aún, tomando en cuenta el impacto que dichas decisiones tendrán en el ámbito de desarrollo tanto económico para el inversionista y sobre todo al medio ambiente para las futuras generaciones. En ese sentido, es preciso considerar que las valuaciones de proyectos de inversión, de adquisición de bienes o de activos debe de contemplar variables económicas como: VPN, COSC, CAPM, WACC o WARA, las mismas que deben ser ajustadas al riesgo, según el tipo de proyecto o de adquisición, tomando como modelos referentes a los mercados desarrollados, variables que si bien ayudan a mitigar riesgo, también contribuyan a valorar y coberturar los daños al medio ambiente, dado que, las repercusiones productos de las decisiones tomadas en el tiempo han generado perjuicios calamitosos a los recursos naturales y al ecosistema, afectando así la herencia para las futuras generaciones, daños que muchas veces a pesar de la cuantificación económica son irreversibles, impacto ocasionados por el sector minero, infraestructura, por la explotación de tala, además de valorar las adquisiciones de medicinas o pruebas para el sector salud en harás del bienestar de la población de un país. / The main objective of this research is to promote, intensify, elucidate what criteria investors should consider to estimate adequately the discount rate to be used, depending on the different economic sectors, the environment in which the activity to be developed will be developed, besides considering the term of the project. Likewise, it is essential to emphasize that, although there is currently no significant discount rate in the market, it is vital and preponderant that investors, evaluators, etc., estimate real rates, based on the information derived from the analysis of the project or investment to be made, even more so, taking into account the impact that these decisions will have on the development environment both economically for the investor and especially the environment for future generations. In this sense, it is necessary to consider that the valuations of investment projects, of acquisition of assets or of assets must contemplate economic variables such as: VPN, COSC, CAPM, WACC or WARA, which must be adjusted to the risk, according to the type of project or acquisition, taking as models referring to developed markets, variables that although help to mitigate risk, also contribute to assess and cover the damage to the environment, given that, the repercussions have generated calamitous damages to natural resources and the ecosystem, affecting the inheritance for future generations, damages that often, despite economic quantification, are irreversible, impact caused by the mining sector, infrastructure, exploitation of logging, in addition to assessing the acquisition of medicines or tests for The health sector in the welfare of the population of a country. / Trabajo de Suficiencia Profesional

Numerous studies have been undertaken on corporate and international diversification. While most early research indicates the existence of a diversification discount, later research reports mixed results (both premiums and discounts). Recent research has even found a U-shaped, an inverted U-shaped, or an S-shaped relationship between international diversification and performance. This paper suggests a major reason for these mixed results is that the success of international diversification is dependent on specific industry and/or firm characteristics. Therefore, by looking at all firms and industries in aggregate, past diversification studies have been undertaken at too aggregate a level to understand how firm and industry specific issues affect international diversification. This study hypothesizes that the success of international diversification is dependent upon industry and firm specific advantages such as tacit knowledge, information technology capability, marketing capability, and international experience. Industries/firms that possess a significant competitive advantage in one or more of these areas will likely have an international diversification premium, while those that do not will likely have an international diversification discount. The ability of firms to generate a competitive advantage in these areas varies significantly across industries. Therefore, firms in certain industries are likely to have an international diversification premium, while others will likely have an international diversification discount. The findings of this study do indicate that in the 30 industry sectors tested, 18 have an international diversification premium while 12 have an international diversification discount. This suggests that international diversification premiums/discounts by industry to exist. The firm specific advantages of tacit knowledge, information technology capability, and marketing capability were found to be positively correlated with firm performance for international firms, while the results of international experience with firm performance were not significant. / Business Administration/International Business Administration

Decisions such as saving, investing, policymaking, have consequences in multiple time periods and are called intertemporal. These choices require decision-makers to trade-off costs and benefits at different points in time. Time preference is the preference for immediate gratification or utility over delayed gratification. The discount rate is a tool used to measure this psychological phenomenon. This thesis considers the problem of an individual maximizing his utility from consumption and final wealth when his discount rate is not constant. The question we answer is the following: if we allow the individual to update his decisions, will he stick to his original strategy or will he switch? We show that there are cases in which the individual's strategy keeps changing thus his behaviour becomes time inconsistent. In Chapter 1, we introduce two notions to solve this inconsistency problem: The agent can pre commit i.e. he does not change his original optimal strategy. The agent can also plan for his future changes of strategy and adopt time consistent strategies also known as subgame perfect strategies. We also review the existing literature on time discounting and time consistency. Chapter 2 considers the time consistency in the expected utility maximization problem. The risk preference is of the Constant Relative Risk Aversion (CRRA) type, the time preference is specified by a non constant discount rate and we allow the volatility of the stock price to be stochastic. We show that the determination of one quantity: the utility weighted discount rate completely characterizes the individual's subgame perfect strategies. Chapter 3 is about equilibrium pricing in a model populated by several economic agents in a complete financial market. These agents are investing, saving and consuming and want to maximize their expected utility of consumption and final wealth. We allow the economic agents to differ in their risk preferences, beliefs about the future of the economy and in their time preferences (non constant discount rates). Since the optimal strategies are time inconsistent, the equilibrium is computed by using the time 0 optimal ( precommitment) strategies for the market clearing conditions. Chapter 4 considers the same model as chapter 2. We solve the equilibrium problem when time consistent strategies are used for the market clearing conditions. We limit the study to two economic agents. The subgame perfect equilibrium is compared to the optimal equilibrium of Chapter 3. / Thesis / Doctor of Philosophy (PhD)

Thesis (M.S.) -- Central Connecticut State University, 2010. / Thesis advisor: Brian Sommers. "... in partial fulfillment of the requirements for the degree of Master of Science in Geography." Includes bibliographical references (leaves 62-65). Also available via the World Wide Web.

En moins de 50 ans, le Mouvement Leclerc, créé en 1949, s'est imposé comme un acteur majeur de la grande distribution. Notre travail, réalisé à partir des archives du groupe, est centré sur l'analyse du modèle qu'il constitue et de sa dynamique d'expansion. D'une part, le discount, l'existence d'un leader charismatique et d'outils fonctionnant sur le mode coopératif sont les traits permanents de l'identité du Mouvement. D'autre part, l'expansion du réseau de magasins et la transformation des points de vente – initialement de petites épiceries devenues des hypermarchés – ont impliqué la mise en place de structures et de mécanismes spécifiques. Le Mouvement s'est initialement construit sur l'indépendance pleine et entière des magasins qui implique une organisation a minima et fortement décentralisée. Toutefois, si cette dernière s'est d'abord révélée efficace, au fur et à mesure que le Mouvement a grossi et s'est diversifié, elle a révélé ses limites, le maintien de la performance locale impliquant la mutualisation ou la nationalisation des achats d'abord, puis de certains éléments de gestion. Enfin, l'expansion du groupe et la préservation de son parc de magasins ont impliqué la création de mécanismes reposant sur la constitution de liens entre les adhérents. / In less than 50 years, the Leclerc Movement, founded in 1949, has established a position as one of the nation's leading large retailers. Our study, undertaken from the company archives, is focused on an analysis of its model and the dynamic of the group's development.On one hand, the notion of discount, the presence of a charismatic leader and the cooperative structure of the organization make up the permanent foundations of the Movement's identity.On another hand, the expansion of the network of stores and the transformation of the retailers – from small groceries to supermarkets – necessitated the creation of specific structures and mechanisms.The Movement was initially built on the autonomy and independence of each shop. Management was by definition a minima and largely decentralized.However, if the structure of this organization proved to be self-sufficient at first, when the Movement grew and diversified, it revealed its limits. To maintain performance at a local level, it became essential to consolidate and centralize first the purchasing of produce, and subsequently certain elements of management.This latter phase in the company's growth and the protection of its network of shops has led to the constitution of enduring links between its members.

Since 1997, the retail industry of South Korea has suffered a decline in sales due to the nation's financial crisis. Because of the increase of price consciousness, discount stores have become the stores most attractive to South Korean consumers. The purpose of this study was to (a) compare the differences between South Korean and the U.S. consumers in demographics, shopping orientation, perception of the importance of store and product attributes, and store evaluation, satisfaction and patronage in discount stores and (b) examine the relationships among the six variables. In addition, South Korean consumers' preferences toward the strategies used in the U.S. discount stores were examined to determine whether these strategies could be adapted to South Korean discount stores. The proposed model suggests that consumers' shopping orientation affects their perception of the importance of store and product attributes. Consumers' perception of the importance of attributes affects how they evaluate a store. Consumers' evaluation of the store then influences their satisfaction with the store. If consumers are satisfied with the store, they choose to patronize the store. A total of 234 participants recruited at Wal-Mart were included in this study, 117 from South Korea and 117 from the U.S. Results showed that there were significant differences between the two countries in participants' occupation, marital status, age, education, the perception of the importance of attributes in discount stores, and store evaluation and satisfaction. When the relationships between variables were examined, results showed that the proposed model is partially supported. When South Korean participants' preferences toward the strategies used in the U.S. were examined, they showed high preferences toward some strategies. The implication of the results were discussed. / Master of Science

This thesis adresses the topic to discounts on minority shareholder level for lack of control and marketability. Separate chapter give a comprehensive view of their application and also discusses the problems of private companies.

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