Trading companies have played and continue to play significant and strategic roles in international trade, supporting the export of manufacturers and the import of purchasing companies. The transaction costs economics, indicated that the role of trading companies is reducing the transaction costs during export. However, the rise of transition economies, such as China, which has become one of the most important players in international trade, leads to two gaps in existing studies. First, the trading companies from these countries and regions have been kept as a “black box”, compared with relative numerous studies on developed countries. Second, the local institutions, which are considered as main determinants on business models in transition economies, are most likely to affect the transaction costs during export, and trading companies’ characteristics and their methods of reducing transaction costs. Therefore, the aims of this study were to explore these institution-related transaction costs in China’s export market, and how Chinese ETCs operate one more efficient indirect export market compared with one direct market between domestic manufacturers and foreign buyers. Correspondingly, the main research questions were: 1) what are the institutions, which generate transaction costs for domestic manufacturers and foreign buyers, in China’s export market? And 2) how do Chinese exporting trading companies respond to such institution-related costs as an intermediary between domestic manufacturers and foreign buyers. A qualitative multiple-case approach was chosen. Six Chinese ETCs were selected, with their export processes as embedded units. The main sources of data included semi-conducted interviews and in-depth field observation. In addition, secondary data, such as newspapers, industrial reports, also contributed to the context of the cases. With one integrative analytical framework, this study identified a couple of institutional constraints in China’s export markets, including the bureaucratic procedures and administrative approvals, inefficient legal system and informal contract obligation, and long-term OEM trading methods. These institutions were involved in the whole procedure of export transaction, from the manufacturing by domestic manufacturers to the purchase by the foreign buyers and generated additional transaction costs in different steps, ranging from search, negotiation, to enforcement. Even though the transaction costs were greatly increased because of the export-related institutional constraints, the findings further reveal that Chinese ETCs can reduce these institution-related transaction costs by a series of effective methods, such as acquirement of knowledge on administrative procedures, collection of information on production, vertical integration, offering supplementary functions for dysfunctional domestic manufacturers and so on. The relevant explanations are twofold. As explained in traditional economic theories, Chinese ETCs’ also relied on economies of scale to reduce institution-related transaction costs. Moreover, Chinese ETCs adopted some approaches affiliated to export-related institutions, such as long-term reselling system and monopoly of export authority in history in China’s export market, and this is the first time that institutional perspective were applied to explain the transaction behaviour of trading companies. To sum up, this study extends our understanding of Chinese export trading companies and export-related institutions in China’s export market, enhances traditional transaction costs analysis on trading companies by adding the perspective from foreign buyers, and integrates institutional perspective into transaction costs analysis to better explain ETCs’ business model in transition economies. Last but not least, the findings in this study are also helpful for practitioners and policy-makers from transition economies in order to improve their export performance and local export-related institutional arrangements.

Death of a child is a very painful experience for parents and remaining siblings who experience physiological and emotional symptoms as described by the parents. There are few reports from the remaining siblings on their physical and emotional health and even less data on their treatments and associated health care costs after sibling loss. The purpose of this study in children who have lost a sibling in the NICU/PICU, ER or those who have been sent home on technology dependent equipment to die, is to compare parents’ and children’s perceptions of the surviving sibling’s health, identify factors related to these perceptions, and describe treatments for the sibling’s physical and mental health at 2 and 4 months after a sibling’s death. Sixty four surviving siblings and their parents reported on the siblings’ mental and overall health. Available treatment charges (visits to the emergency room, physician office, hospitalization, and any health services (mental & physical) since the sibling death were collected from bills and insurance receipts. Cause of child death (acute or chronic) was collected from the deceased child’s hospital record. The relationship between parent and sibling’s perception of the surviving sibling’s health, and anxiety and depression at 2 and 4 months post the death were measured using the Children’s Depression Inventory and the Spence Anxiety Scales. Data were analyzed using: T-Tests, ANOVA, Pearson correlations, frequencies and descriptive statistics. Findings indicated that at 2 and 4 months parent’s perceived their surviving siblings’ health to be better than the child perceived his/her health to be. At 4 months fathers rated the siblings’ health compared to their peers lower than the siblings. Greater child anxiety was related to lower father’s ratings of the child’s health now and compared to peers. Treatments and charges increased from 2 months to 4 months with males having more treatments than females. The majority of the treatments consisted of routine physician visits, non-routine physician visits, emergency room/urgent care visits and counseling. Study findings can help guide healthcare providers and educators in identifying those children that are at high risk for negative health effects after the death of a sibling.

The Canadian proceeds of crime provisions, Part XTJ.2 of the Criminal Code, are targeted at enterprises that are motivated by the desire to generate profit and accumulate wealth from criminal activity. The main purpose of Part XII.2 is to provide the police and prosecution with powerful new tools to attach the proceeds of crime, and the courts with the power to forfeit such proceeds. This thesis will examine how, in recognition of the procedural and substantive problems with this legislation and in contrast to American legislation, Parliament included numerous provisions to balance such extensive powers. The balancing mechanisms included a provision that allows reasonable legal fees to be paid out of seized or restrained property that is alleged to be proceeds and another that requires an in camera session to be held without the presence of the Attorney General, to determine the reasonableness of such fees. The Parliamentary record explicitly demonstrates that the balancing provisions were meant to ensure that the pre-trial restraint and potential forfeiture of property would withstand Charter challenges, especially with regard to an accused's rights to counsel, fair trial and full answer and defence. In this thesis I will analyze the complexities of proceeds litigation and demonstrate how this necessitates adequate legal representation to ensure that an accused's Charter rights are protected. This thesis explores in depth how Parliament recognized the need for balancing mechanisms that permit funds to be released for an accused to retain private counsel. However, these mechanisms have been significantly narrowed by subsequent judicial interpretation. A result of this line of authority is that defence work in the proceeds area has become very difficult. If reasonable legal fees are not taken from seized proceeds, provincial legal aid plans will have to provide for appropriate counsel. This may not be a realistic option given the funding of these plans and their stated objection to funding proceeds cases. Therefore, in this thesis I will argue that if private counsel must be retained the right to counsel could be effectively forfeited, unless a portion of the seized or restrained assets are released for reasonable legal fees. This thesis will attempt to provide a coherent basis for future interpretation of the Part XII.2 provisions that affect legal fees. The approach taken will incorporate the competing interests of accused persons and the State without undermining the objectives of the legislation. This thesis will focus on Canadian legislation and jurisprudence, but will also have a comparative component that examines how these issues have been dealt with in Australia, England and the United States. / Law, Peter A. Allard School of / Graduate

No description available.

This dissertation consists of three separate essays, each dealing with a different aspect of the sunk cost phenomenon. The first essay proposes a multiattribute utility model of the sunk cost phenomenon. We argue that this phenomenon, the tendency toward over-investment in losing courses of action, is the result of tensions between economic and psychological factors such as cognitive dissonance. We formalize this tension by decomposing the investor's total utility into its economic and psychological components, and develop a two-attribute utility model which describes sunk cost behavior. We establish the interaction between the economic and psychological factors, which determines the form of the resulting model, both for decisions under certainty and under uncertainty. The model helps reconcile past explanations of sunk cost behavior, and also generates new predictions. We explore the behavioral ramifications of the model, and introduce formal concepts that are useful in characterizing the presence and intensity of a sunk cost effect. The model is then extended beyond the sunk cost problem, to more general allocation situations involving multiple projects or mental accounts. The second essay examines some of the strategic implications of the sunk cost phenomenon in sequential allocation decisions. Drawing from psychology and behavioral decision theory, we first present a typology of possible causes for this tendency. We then present a generic two-period allocation model of the phenomenon within a utility-maximization framework, and derive some comparative statics results - thus showing that the sunk cost phenomenon can be accommodated within formal micro-economic models. The model is used to formalize many of the possible causes of the phenomenon. We then move on to the analysis of some implications of this behavior in strategic situations. A strategic game analysis is used to derive the optimal allocations as a function of sunk cost behavior. We establish when this behavior can be used as a successful precommitment strategy by the sunk cost player, and when it is exploitable by an opponent. Numerous strategic applications of our game-theoretic approach are discussed. The third essay addresses key questions surrounding the financial implications of sunk cost behavior by using data on actual decisions made by firms, and the stock market reaction to these decisions. Specifically, using field evidence we test for the presence of a systematic sunk cost phenomenon in allocation decisions made by publicly traded firms, as recognized by the stock market and reflected in the prices of these firms' shares. We use a financial event study methodology to determine whether share prices reflect the stock market's belief that managers display a sunk cost effect, and use these results to infer the magnitude of the financial implications or "cost" of managers' sunk cost behavior to these firms. / Business, Sauder School of / Graduate

This thesis describes an optimization model for the allocation of logs from alternative sources for a series of successive time periods. The model was formulated as a multi-stage decision process and is solved by dynamic programming. The analytic framework consists of two connected recurrence equations, each incorporating two decision-variables. These two relationships, together with the feasibility regions defined for a hypothetical problem, describe the optimization process. The hypothetical allocation problem, used as a vehicle for model development, requires mill demands for quantities of pulplogs and sawlogs to be satisfied for three time periods. Logs are delivered from five available sources, four log-producing areas and an open log market, and temporary log surpluses are allowed. Only a limited quantity of logs is available from each source in each period, two of the four forest areas supply only pulplogs and a third area is inaccessible in one period. The variable unit costs of delivered logs differ not only between each source and period but are also dependent upon the magnitude of an allocation. In addition to satisfying mill demands for specified quantities of logs, there is a further requirement with regard to sawlogs. Average lumber prices are assumed to be dependent upon the tree species processed and variable log conversion costs are assumed to decrease with increase in log diameter. Consequently, the comparison of alternative allocation policies involves not only the sum of the variable delivered log costs but also a measure of the value of delivered sawlogs. In the thesis "sawlog net worth" is evaluated and combined with log production and log transportation costs to give a composite cost term, "net delivered log cost." This is the measure used to evaluate each allocation and is incorporated in the first of the two recurrence equations. This equation is used to derive minimum cost allocation policies for all possible quantities that may be allocated from each period. In the second equation the minimum costs derived from the first allocation process are combined with a second term to evaluate alternative allocations between periods. This second cost component is incurred when surplus logs are "cold-decked" for subsequent mill conversion. To ensure a sufficient flow of logs, and to take advantage of seasonal differences in "net delivered log costs," log surpluses are permitted. When log surpluses are "cold-decked" additional log handling costs are incurred which must be considered when alternative allocations between periods are evaluated. This requirement is satisfied by introducing the additional cost component into the second equation. The different derivations given for the "net delivered log costs" for five sources of logs demonstrate an important feature of the formulation: there is no requirement that costs must be linearly related to the quantity allocated. This freedom is well illustrated by the introduction of additional "fixed" costs which are dependent upon the magnitudes of the quantities allocated. In a demonstration of the flexibility of the formulation a complex log production system was assumed for source two. For each allocation from this source two optimal quantities were derived. The first was the quantity of sawlogs selected from specified log classes, the second was the optimal portion of the quantity of peeler logs developed that should be traded. An exchange could be made either for sawlogs, or for pulplogs, or both. With the development of this log allocation model a fresh approach to log production planning is now possible. The analytic framework is capable of extensive adaptation and the model itself can be readily modified to suit a variety of conditions. Whether used as described, or as part of a larger analytical system, the computational advantages of dynamic programming are now available to the planner. / Forestry, Faculty of / Graduate

In the selected company will be implemented the general methodology of calculation of the own costs as a basis for the formation of prices. It will be analyzed the effect of the method of the own costs calculation on business management.

The basic theoretic bases of mamagement costs and revenues. The short characteristic of the company. The analysis of basic and external process of the firm icnluded their discription and consequences. The analysis of the costs and revenues of the company directly linked on the company processes. The basic preparation on completion ISO standards.

Economic inluence in Czech republic

Diplomová práce je postavena na třech hlavních kapitolách, z nich první dvě se staly východiskem pro vytvoření třetí kapitoly a to projektu. První část práce je zaměřena na teoretické poznatky, které jsou spojené s tématem diplomové práce. Druhá část práce je věnována analýze jednotlivých faktorů, jež ovlivňují rozhodování zahraničních investorů při vstupu do České republiky. Analýza je zaměřena na faktor lidských zdrojů, infrastruktury, surovin a připravenosti území, státní regulace, finančních a výrobních trhů. Východiskem této analýzy je SWOT analýza, stanovení silných a slabých stránek a také příležitostí a hrozeb, týkajících se České republiky. V této části práce je zhodnocena i práce agentury CzechInvest a systém investičních pobídek. Analytická část se stala východiskem pro třetí část práce, kde je navržena soustava opatření vedoucí ke zvýšení atraktivity České republiky pro vstup zahraničních investorů. Projektová část práce vychází jak z teoretických tak i z analytických poznatků, které vedly ke stanovení navržených opatření.