保險法第146條之4規範國外投資總額最高不得超過各該保險業資金45%，而2014年修正增列保險業依保險法規定投資於國內證券市場上市或上櫃買賣之外幣計價股權或債券憑證之投資金額，可不計入其國外投資限額。且因我國市場長期處於低利環境，壽險業即大量以台幣作為融資貨幣買入國外高利率環境下之標的貨幣進行利差交易，本研究擬以經濟資產模型進行資產與負債之模擬，衡量壽險公司的經濟資本與清償風險。 依據現行壽險公司資金運用決定投資之標的，並以Cox-Ingersoll-Ross (1985)模型模擬國內外短期利率，在無拋補利率平價說下建立匯率模型，以Heston (1993)隨機過程描述資產的變化，並考量壽險公司投資策略決定投資比率，再加入資產之相關性進行模擬；以與壽險公司投資連結之利率變動型年金為商品，加入各項風險因子進行負債價值模擬，諸如死亡率、解約率等因子；資產與負債皆在風險中立測度下以蒙地卡羅法進行模擬10,000次，探討公允價值下壽險公司之清償能力。 而現行清償能力指標為資本適足比率，但此標準下尚無法完整考慮各風險之相關性，本研究除考量資本適足比率中風險資本總額，亦加入經濟資本進行分析，可得以下結果： I.現行RBC風險資本總額介於VaR 99.5%與95%所計算之經濟資本間。 II.當匯率波動度與國外投資比例增加時，經濟資本亦將顯著增加。 III.隨國外債券投資比例增加，風險資本總額增加之幅度亦會加速成長。 IV.利率變動型年金商品宣告利率之擬定將顯著影響公司面臨之違約風險。 / The amendment of Article 146-4 of Insurance Act extended the overseas investment ceiling in 2014 that the International Bond was not included to be counted in overseas investment. Since we have been suffering from the low interest rate for a long time, life insurance industry often uses carry trade to enlarge their earnings. In this paper, the investment targets are chosen on the basis of the current life insurance industry. We simulate the short-term interest rate based on Cox-Ingersoll-Ross (1985) model, establish the exchange rate model by Uncovered Interest Rate Parity, and use Heston (1993) model to simulate stochastic process of assets. Then we consider the life insurance industry’s investment strategy to determine the investment ratio and also import the asset correlation into our models. The interest sensitive annuity policies we used to evaluate the liabilities are linked with life insurance companies’ investment. Some risk factors are also been considered, such as mortality, surrender rate and other factors. Through Monte Carlo simulations by 10,000 times, we analysis the life insurance companies’ solvency under risk neutral measurement by using Risk-Based Capital and Economic Capital. The results show that： I.Risk-Based Capital is between Economic Capital calculated by VaR 99.5% and 95%. II.When the volatility of exchange rate and overseas investment ratio increase, the Economic Capital will also increase significantly. III.With the increase in the proportion of foreign bond investment, the increase in the Risk-Based Capital will accelerate the growth. IV.The declaring interest rate of interest sensitive annuity policy will significantly affect the default risk faced by the life insurance company.

Syfte: Syftet med denna studie är att undersöka hur Hammarby Fotboll utövar socialt entreprenörskap genom Spontanfotboll. Detta bidrar med viktig kunskap om hur socialt entreprenörskap praktiseras. Studien visar ett exempel på hur Riksidrottsförbundets policyer påverkar idrottsföreningars arbete med inkludering och att nå vissa grupper i samhället.  Metod: Studien grundar sig i kvalitativ induktiv metod, vilket innebär att materialet samlas in först och analyserar för att sedan skapa teori, modell eller förklaring. Materialet har samlats in genom semistrukturerade kvalitativa intervjuer, en fallstudie samt dokumentanalys.  Teori: Studiens teoretiska perspektiv är Pierre Bourdieus fält och kapitalbegrepp samt CSR och socialt entreprenörskap.  Resultat och slutsatser: Att arbeta med socialt entreprenörskap handlar om att kunna tillfredsställa sociala behov som samhället står inför. Genom Samhällsmatchens (Hammarby Fotbolls avdelning för social entreprenörskap) initiativ Spontanfotboll erbjuder de ungdomar en kostnadsfri aktivitet där de kan spela fotboll under helgkvällar istället för att vara ute under vintermörkret. Detta skapar en meningsfull fritid för ungdomarna där de inte är ute sena kvällar i riskfyllda miljöer, vilket leder till att det upplevs lugnare i området under de tider Spontanfotboll bedrivs. Att använda sig av lokala ledare som leder aktiviteten har visat sig funka bra för Samhällsmatchen. De använder de lokala ledarna för att marknadsföra aktiviteten och når de lokala invånarna mer effektivt samtidigt som de ger ett första jobb för ungdomarna. Detta skapar en trygghet och legitimitet för Spontanfotboll. Resultaten visar hur socialt entreprenörskap kan praktiseras i en av Sveriges största idrottsföreningar, samt tillvägagångssätt för att påverka ungdomars idrottsdeltagande positivt. Studiens slutsats är att Samhällsmatchen och Hammarby Fotboll initiativ Spontanfotboll är framgångsrikt för att de är medvetna om sin roll i lokalsamhället, värnar om de lokala invånarna, samarbetar med lokala aktörer och tillfredställer sociala behov. / Purpose: The purpose of this study is to investigate how Hammarby Football practices social entrepreneurship through Spontanfotboll. This contributes important knowledge about how social entrepreneurship is practiced. The study shows an example of how the Swedish Sports Confederation's policies affect athletic clubs' work with inclusion and reaching certain groups in society. Methodology: The study is based on a qualitative inductive method. The material has been collected through semi-structured qualitative interviews, a case study and document analysis. Theory: The study's theoretical perspective is Pierre Bourdieu's concept of field and capital. as well as CSR and social entrepreneurship. Results and Conclusions:  Working with social entrepreneurship is about being able to satisfy social needs that society faces. Through Samhällsmatchen's (Hammarby Football's department for social entrepreneurship) initiative Spontanfotboll, young people are offered a free activity where they can play football during weekend evenings instead of being out in the winter darkness. This creates a meaningful free time for the young people where they are not out late at night in risky environments, which leads to a safer feeling in the area during the times Spontanfootball is played. Using local leaders who lead the activity has proven to work well for Samhällsmatchen. They use the local leaders to promote the activity and reach the local residents more effectively while providing a first job for young people. This creates a feeling of security and legitimacy for Spontanfotboll. The results show how social entrepreneurship can be practiced in one of Sweden's largest athletic clubs, as well as approaches to positively influence young people's sports participation. The study's conclusion is that Samhällsmatchen and Hammarby Football ́s initiative Spontanfotboll are successful because they are aware of their role in the local community, they care for the local residents, cooperate with local actors and satisfy social needs.

In order to ensure solvency, financial institutions must evaluate their credit risk exposure and determine how much economic capital is required to hold as a cushion. This thesis compares three factor models, namely Asymptotic Single Risk Factor (“ASRF”), Inter-sector and Intra-sector factor models and evaluates how their different characteristics affect the economic capital outcomes. The thesis also investigates how these outcomes are affected when assuming asset dependency through a Student's-$t$ copula. Focus will also be put on how different types and levels of asset correlation affect the models' credit risk results. We use a fictitious loan portfolio consisting of 138 Swedish firms with equity data from between 2007 and 2019 in order to calculate asset correlations and economic capital. Our main findings are that the asset correlations severely impact the outcomes of the credit risk models and that practitioners must calibrate and stress test their models regularly with respect to how correlations vary between different firms. The thesis also finds that using copulas for credit portfolios provides more conservative risk outcomes but makes the models less sensitive to correlation level input. / För att finansiella institutioner ska försäkra sig om att vara solventa måste de utvärdera sin exponering mot kreditrisk och därmed avgöra hur mycket ekonomiskt kapital de behöver hålla som buffert. Denna uppsats jämför tre faktormodeller vid namn Asymptotic Systematic Risk Factor (“ASRF”), Inter-sektor, och Intra-sektor med syfte att undersöka hur deras olika karaktärsdrag påverkar estimaten för ekonomiskt kapital. Vi utvärderar även hur utfallen påverkas av införandet av copula-beroende mellan portföljtillgångarna. Fokus kommer även att läggas på hur olika typer och nivåer av korrelation mellan bolag påverkar de olika modellernas kreditriskutfall. Vi använder oss av en fiktiv låneportfölj bestående av 138 svenska bolag med aktieprisdata mellan 2007 och 2019 för att beräkna korrelationer och ekonomiskt kapital. Uppsatsens främsta resultat pekar på att korrelationerna har en väldigt stor påverkan på det ekonomiska kapitalet och att analytiker rekommenderas att kontinuerligt kalibrera och stresstesta sina modeller med avseende på hur korrelationerna kan skilja sig mellan olika bolag. Vi fann även att copula-beroende gav mycket mer konservativa utfall, det vill säga ett högre ekonomiskt kapital, men var mindre känslig för korrelationsnivåerna mellan bolagen i portföljen.

Syftet med denna studie var att undersöka och få en djupare förståelse för hur elever upplever att vårdnadshavare inverkar på elevernas gymnasieval. Samt utforska på vilket sätt eleverna utifrån deras kulturella bakgrunder liknar varandra samt vilka olikheter som finns dom emellan. Sex stycken kvalitativa intervjuer genomfördes på två olika grundskolor med elever i årskurs 9 med olika bakgrunder. Till hjälp av analysarbetet användes tidigare forskning inom ämnet men även teorierna från Pierre Bourdieu om habitus, klass och kapitalformer samt Hodkinson och Sparkes Careership teori. Resultatet visar att eleverna blir påverkade av sina vårdnadshavare i stor utsträckning. Det visar skillnader elevgrupperna emellan men också likheter kring definitionen av begreppet påverkansfaktor vilket i detta fall varit vårdnadshavares påverkan till största del. I analys och resultatdelen påvisas det även att eleverna blivit mera påverkade av sina vårdnadshavare än vad dom själva ville erkänna. / The purpose of this study was to investigate and gain a deeper understanding for how students feel that guardians affects the student’s choice of upper secondary school. As well as explore in which way the students, based on their cultural backgrounds, are similar and what differences there are between them. 6 qualitative interviews were conducted at two different primary schools with students in year 9 who have different backgrounds. With the help of the analysis work, previous research was used within the subject but also the theories from Pierre Bourdieu on habitus, class and forms of capital as well as Hodkinson and Sparke’s careership theory. The result largely show that the students are influenced by their guardians to a large extent. But that there are differences between the student groups but also similarities around the definition of the concept of influence factor, which in these cases has been guardian’s influence for the most part. The study also shows that students are more affected than they thought they were.

Cette thèse a été réalisée, entre autres, grâce à une subvention reçue du Fonds de recherche du Québec – Société et culture et de son partenaire le ministère de l’Éducation, du Loisir et du Sport (MELS) Les analyses contenues dans cette thèse ont été réalisées au Centre interuniversitaire québécois de statistiques sociales (CIQSS), membre du Réseau canadien des centres de données de recherche (RCCDR). Les activités du CIQSS sont rendues possibles grâce à l’appui financier du CRSHC, des IRSC, de la FCI, de Statistique Canada, du FRQSC ainsi que de l’ensemble des universités québécoises qui participent à leur financement. Les idées exprimées dans ce texte sont celles des auteurs et non celles des partenaires financiers. / Ce travail explore le phénomène social que sont l’élaboration et la variation des aspirations scolaires réalistes chez les finissants du secondaire tout au long de leurs études, soit sur une période de huit années. L’idée est de faire ressortir les fac-teurs en jeu, en se référant aux deux concepts sociologiques d’importance dans le milieu de l’éducation que sont l’habitus de Pierre Bourdieu et la rationalité de Ray-mond Boudon. En somme, cette thèse explore dans quelle mesure les facteurs liés à au parcours de l’élève (base de référence pour un calcul rationnel) et à l’héritage so-cioculturel (habitus) peuvent intervenir sur l’élaboration des aspirations scolaires dites réalistes et la variation des aspirations. Les analyses ont été effectuées en deux temps. La première consiste en une régression logistique pour l’analyse transversale selon les données de l’enquête au-près des jeunes en transition (EJET). Analyse qui avait pour intention de faire ressor-tir les principaux facteurs qui interviennent lors de l’élaboration d’une aspiration sco-laire chez les élèves canadiens qui sont à la fin de leurs études secondaires. Par la suite, une seconde analyse a été faite, toujours avec les données d’EJET, afin de poser un regard longitudinal sur ce phénomène afin de prendre connaissance des facteurs qui interviennent tout au long de leur parcours; pour ce faire une régression d’estimation d’équation généralisée a été effectuée. Les résultats tendent à suggérer que l’élève exécute bel et bien un calcul ra-tionnel pour l’élaboration et la variation des aspirations scolaires réalistes, mais un calcul qui est, avant tout, influencé par l’habitus, surtout selon le niveau d’études des parents (capital culturel institutionnalisé). Par ailleurs, ce calcul rationnel serait da-vantage influencé par la moyenne générale déclarée lors des études au secondaire et lors des premières années à la suite des études secondaires. Ainsi peut-on dire que l’élaboration et la variation d’une aspiration scolaire réaliste se conçoivent sur la base d’un héritage culturel et d’un parcours scolaire constitués d’un ensemble d’expériences scolaires récentes, qui pourrait se conceptualiser sous « la rationalité en habitus ». / This thesis investigates the social phenomenon of the elaboration and adjustment of realistic educational aspirations for high school graduates during the ten-year period preceding graduation. Its aim is to determine which factors most affect realistic edu-cational aspirations in the light of two major sociological concepts: Pierre Bourdieu’s concept of habitus and Raymond Boudon’s concept of rationality. In short, this thesis explores the manner in which factors linked to educational experience (the baseline for rational calculating) and to sociocultural heritage (habitus) may affect the cons-truction of so-called realistic educational aspirations and their adjustment The analyses are done in two distinct parts. The first part consists of logistic regres-sion analysis using cross-sectional data drawn from the Youth in Transition Survey (YITS). The aim of this analysis is to identify the main factors that enter into consid-eration during the construction of educational aspirations for Canadian students ap-proaching high school graduation. The second part, also using YITS data, examines this phenomenon with a longitudinal perspective in order to identify which factors affect aspirations throughout Canadian students’ educational experience. This is done using generalized estimating equations (GEE) regression. The results show that young students, predictably, use rational calculation when con-structing and adjusting realistic educational aspirations, but also that such a calcula-tion is highly influenced by the habitus, especially by the parents’ education level (institutionalized cultural capital). Moreover, the students’ calculation proves to be significantly constrained, when assessing the risks of following different educational aspirations, by the self-reported overall high school average and additional grades in the first years of a postsecondary studies.

[pt] A finalidade desta tese é propor estimadores pontuais para os coeficientes de escalonabilidade associados à Teoria de Resposta ao Item não Paramétrica (TRIN), a saber: Hij, Hi e H, e seus respectivos estimadores da variância, baseados na abordagem da amostragem de populações finitas. Com o objetivo de investigar empiricamente a qualidade destes estimadores são consideradas as populações de referência que são formadas pelos alunos que frequentavam o 9° ano do Ensino Fundamental, na rede pública, em áreas urbanas dos Estados de Roraima e do Rio de Janeiro, que participaram da Prova Brasil 2007. As respostas obtidas destes alunos a um conjunto de 10 itens dicotomizados que mensuram o capital econômico da sua família foram usadas na construção dos coeficientes de escalonabilidade do Modelo de Homogeneidade Monótona da TRIN. Repetidas amostras foram selecionadas de cada população de referência empregando dois planos amostrais: AC1S (amostragem por conglomerados em único estágio) e AC2-SAEB (com seleção de escolas e turmas, estratificação e sorteio das unidades do primeiro estágio com probabilidade proporcional a uma medida de tamanho da escola. A estimação pontual é baseada no Modelo de Superpopulação. Duas técnicas foram tratadas para a estimação da variância: método do Conglomerado Primário e Delete - 1 Jackknife. As medidas usuais: vício relativo, erro relativo médio, intervalo de confiança e efeito do plano amostral são usadas para a avaliação da qualidade dos estimadores em termos das propriedades de vício e precisão. O estudo assinala que os estimadores pontuais apresentam boas propriedades e, além disto, o estimador da variância corrigido pelo fator de correção de população finita é o mais apropriado em termos de vício e precisão. O plano amostral complexo adotado teve impacto na estimação pontual e da variância dos estimadores dos coeficientes de escalonabilidade. / [en] The purpose of this thesis is to propose estimators for the coefficients of scalability associated with Non Parametric Item Response Theory (NIRT), namely: Hij, Hi and H, and their variance estimators, based on the approach of sampling finite populations. To investigate empirically the quality of these estimators are considered the reference populations that are formed by students attending the 9th year of elementary school, in public, in urban areas of the states of Roraima and Rio de Janeiro, who participated Prova Brasil 2007. The responses of students to a set of 10 dichotomized items that measure the economic status of their families were used in the construction of the coefficients of scalability of the Homogeneity Model. Repeated samples were selected from each reference population using two sampling plans: AC1S (cluster sampling single stage) and AC2-SAEB (with selecting schools and classes, stratification and draw units of the first stage with probability proportional to a measure of school size). The point estimate is based on the approach of the Model Overpopulation. Two techniques were treated to estimate the variance: Ultimate Cluster method and Delete - 1 Jackknife. The usual measures: relative bias, mean relative error, confidence intervals and effect of the sampling plan is used to assess the quality of the estimators in terms of the properties of bias and accuracy. The study notes that the estimators have good properties and, in addition, the estimator of the variance corrected by the correction factor for finite population is the most appropriate in terms of accuracy and bias. The complex sampling (AC2-SAEB) impacted the point estimate and variance of the estimators of the coefficients of scalability.

This research examined the reasons for the differences in the academic performance of school learners, and makes reference to economic, social and cultural capital theory in explaining educational imbalances in society. Many researchers have conducted studies on the factors contributing to the academic performance of learners at various levels of schooling have been undertaken. These researchers have come to the conclusion that the academic performance of learners is affected by numerous factors, namely, gender, age, learners' schooling, family’s socio-economic status, residential area of learners, the medium of instruction in schools, tuition trends, hours spent on studying on a daily basis and accommodation in hostels (Petersen, 2010:15). There is a popular saying in south-western Nigeria, that “if the parents’ financial status is good, the reflection of it will show in the child”. This study is focused on the academic performance of learners at the secondary school level and investigates the influence of economic, social and cultural capital on their academic performance. This study aims to determine which factors contribute to the poor academic performance of rural secondary school learners in south-western Nigeria and then, based on the findings of the research undertaken to make recommendations regarding what could be done to improve the academic performance of these learners. The mixed-methods approach of combining both qualitative and quantitative approaches to accomplish the aims of the research were used. The population consisted of four secondary schools, four school principals, 16 teachers, 40 parents and 120 learners. According to the results of this research, we can see that the social, cultural and economic capital of parents is a powerful determinant with regard to motivating their children’s education. / Educational Studies / D. Ed. (Socio-Education)

[pt] Importante questão que se coloca atualmente é a capacidade de medição do volume de capital necessário, às sociedades seguradoras, para fazer frente aos diversos tipos de risco que tais companhias suportam no exercício de suas atividades. Esse volume de capital necessário deve ser tal que permita à companhia suportar variabilidades no negócio. As motivações para o desenvolvimento de modelos matemáticos visando à determinação desta necessidade de capital são tanto a preocupação das próprias companhias com a sua gestão de risco, como também aspectos relacionados ao estabelecimento de requerimentos de capital exigidos pelo regulador de seguro às sociedades seguradoras para fazer frente aos riscos suportados. Entre tais riscos, encontra-se a categoria dos riscos de subscrição, relacionados diretamente à operação central de uma seguradora (design de produto, precificação, processo de aceitação, regulação de sinistros e provisionamento). Esta dissertação apresenta uma proposta de modelo para determinação do volume necessário de capital para fazer frente aos riscos de subscrição, na qual tal categoria de riscos é segregada nos riscos de provisão de sinistros (relativos aos sinistros ocorridos e, assim, relacionados às provisões de sinistros) e nos riscos de emissão/precificação (relativos aos sinistros à ocorrer num horizonte de tempo de 1 ano, considerando novos negócios). Em especial, o modelo proposto utiliza processos de simulação que levam em consideração a estrutura de dependência das variáveis envolvidas e linhas de negócio, fazendo uso do conceito de cópulas condicionais. / [en] Important question that arises today is the ability to measure the amount of capital necessary to insurance companies, to cope with various types of risk that these companies support in performing their activities. This volume of capital required must be such as to enable the company to bear variability in business. The motivations for the development of mathematical models aimed at the determination of those capital needs are both the concern of companies with their own risk management, as well as aspects related to establishing capital requirements required by the insurance regulator to insurance companies to face the risks borne. Among such risks, is the category of underwriting risks, directly related to the core operation of an insurance company (product design, pricing, underwriting process, loss settlement and provisioning). This dissertation proposes a model for determining the appropriate amount of capital to cope with the underwriting risks, where such risk category is segregated in reserving risks (relative to incurred events) and pricing risks (relative to events occurring in the time horizon of 1 year, considering new businesses). In particular, the proposed model uses simulation processes that take into account the dependence structure of the variables involved and lines of business, making use of the concept of conditional copulas.

L’objectif de ce mémoire est d’analyser le rôle de la composition culturelle et économique des écoles secondaires fréquentées à 15 ans sur l’échec scolaire à 25 ans. À partir des données de Statistique Canada (Enquête sur les jeunes en Transition), nous proposons une analyse originale portant sur l’inégalité des chances en matière de réussite scolaire ou plutôt de l’échec scolaire au secondaire à 25 ans. Théoriquement, nous mobilisons le cadre d’analyse théorique de la reproduction sociale de Pierre Bourdieu. L’originalité de notre approche est double. Nous prenons d’abord en compte à la fois des caractéristiques individuelles des élèves, mais aussi de la composition sociale des établissements qu’ils fréquentent. Nous intégrons par ailleurs à ces deux niveaux d’analyse une multiplicité d’indicateurs identifiés comme importants dans la réussite scolaire : multiplicité pouvant être culturelle, économique, sociale, ethnique et de genre. Nos résultats nous conduisent à constater l’existence d’un double primat du capital culturel en éducation dans la mesure où le niveau d’éducation des parents et le pourcentage de parents sans diplômes dans l’école sont de loin les deux facteurs explicatifs les plus déterminants de l’absence de diplomation du secondaire à 25 ans. Cela nous conduit à critiquer la production d’indices synthétiques de défavorisation par les acteurs scolaires : la proportion de familles monoparentales, divorcées ou vivant seuls, la proportion de chômeurs, le revenu moyen du quartier ou encore la proportion de gens sans diplômes dans l’agglomération d’une école. En plus de ne pas contribuer à prédire l’échec scolaire, ces indices pourraient contribuer à renforcer la stigmatisation des écoles. Enfin, nous montrons que le statut de l’école (public régulier, public enrichi et privé), le genre, l’origine ethnique et le revenu des parents conservent un impact significatif après contrôle du capital culturel au niveau individuel et de l’école. / The objective of this thesis is to study the role of the cultural and economic composition of elementary schools attended at age 15, on non-graduation at age 25. Using data from Statistics Canada (Youth in Transition Survey), we proposed an original analysis of the inequality of opportunities in terms of academic success or rather non-success in high school at age 25. Theoretically, we use Pierre Bourdieu's theoretical framework for social reproduction. The originality of our approach is twofold. We first take into account both the individual characteristics of the students, but also the social composition of schools they attend. We also integrate at these two levels a multiplicity of indicators identified as important in educational success: cultural, economic, social, ethnic and gender. Our results lead us to note the existence of a double primacy of cultural capital in education insofar as the level of parents' education and the percentage of parents without a diploma in school are by far the two most important explanatory factors of non-graduation from high school at age 25. The study allowed us to criticize the production of synthetic indices of deprivation by educational actors: the proportion of single-parent families, divorced or living alone, the proportion of unemployed, the average income of the district or the proportion of people without qualifications in the agglomeration. of a school, in addition to not helping to predict academic non-success in high school, could contribute to reinforcing the stigmatization of schools. Finally, we show that the status of the school (regular public, enriched public and private), gender, ethnicity and parental income retain a significant impact after controlling cultural capital at the individual and school level.

The main aim of this thesis is to examine the educational and occupational structure of non-EU labour migration to the Czech Republic. Using insights from human capital theory and the sociology of migration this thesis explores the extent to which there is an educational-occupational mismatch among non-EU migrant workers in the Czech Republic. This thesis uses currently available statistical data and evidence from qualitative and quantitative sociological studies. The dissertation exploits data from two unique surveys conducted by the Institute of Sociology, Academy of Sciences of the Czech Republic in 2006 and 2010.