Made available in DSpace on 2016-04-26T18:13:09Z (GMT). No. of bitstreams: 1 Maria Lucia de Paiva Jacobini.pdf: 9245099 bytes, checksum: b2341c7f6222d91eab6edc0689cdb417 (MD5) Previous issue date: 2013-06-24 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / Our hypothesis is that the world today is going through several interrelated crises, especially those of the international financial crisis, the modern science paradigm and the permanent crisis that have always been a part of Latin American and, particularly, of Brazil. This research is divided in three parts: in the first, we work with Agamben s figures of the homo sacer, the sovereign, the state of exception as to create metaphors for the international financial turmoil and relate it to the crisis of Western modernity. In the second part, we show how the crisis was in Brazil and that, with its profane characteristics, created a solution to the economic problems different from the solutions proposed by international organizations. Finally, we emphasize the existence of a permanent crisis and of testimonies of its Muselmans, those not narrated by national media. The object of this thesis are the texts (written and pictorial) published by the newspaper Folha de S. Paulo, O Estado de S. Paulo and by magazines Carta Capital and Veja, between the years 2008 and 2012, on the financial and permanent crises. Via the relationship between these stories and theoretical discussion, our goal is to question how the selected newspapers and magazines address our (s) crisis (es) and how they emphasize economic aspects despite the others that distinguish the permanent state of exception. In order to do that, we use photography thinkers such as Kossoy, Barthes, Flusser, Sontag and Belting to approach the use of the image by the media and its power in memory formation about crises, accompanied by Sousa Santos, Laplantine & Nouss, Martín-Barbero, Viveiros de Castro and Mignolo that study the connection between communication and Latin American culture and its internal (profane) mechanisms that face the uniformity widespread by modern science. Lotman s thoughts on memory, in a dialogue with Agamben s notion of testimony, will help to decipher stories told in the news and the need for disclosure of unpublished voices - those of the permanent local crises. Therefore, we believe that there is a complexity in the Latin American context that can accept both Agamben s negativity and the profane possibilities envisioned by Viveiros de Castro. Besides, a reflection on how the media deal with the crises that exist in Brazil and around the world is significant for our understanding of the intentions intrinsic to the choice of news, their images and to their ability to make space for other narratives about the different local stories / Partimos da hipótese de que o mundo hoje passa por várias crises interrelacionadas, com destaque para a financeira internacional, a do paradigma da ciência moderna ocidental e as crises permanentes que atingem a América Latina e, particularmente, o Brasil. Esta pesquisa está dividida em três eixos: no primeiro, trabalhamos com as figuras do homo sacer, do soberano, do estado de exceção propostas por Agamben para criar metáforas para a turbulência financeira internacional e relacioná-la com a crise da modernidade ocidental. No segundo eixo, apresentamos como se deu o cenário de crise no Brasil que, com suas características profanatórias, criou uma solução para os problemas econômicos diferente das receitas determinadas pelos organismos internacionais. Por último, enfatizamos a existência de crises permanentes e de testemunhos dos seus muçulmanos, não narrados pelos meios de comunicação nacionais. O objeto deste trabalho são os textos (escritos e imagéticos) publicados pelos jornais Folha de S. Paulo, O Estado de S. Paulo e pelas revistas Carta Capital e Veja, entre os anos de 2008 e 2012, sobre as crises financeira e permanentes. Através da relação entre essas notícias e a discussão teórica, nosso objetivo é questionar como os jornais e revistas selecionados realmente abordam a(s) nossa(s) crise(s) e como enfatizam seus aspectos econômicos em detrimento de outros que caracterizam o estado de exceção permanente. Para tanto, serão utilizados pensadores da fotografia como Kossoy, Barthes, Flusser, Sontag e Belting para abordarmos o uso da imagem pelos meios de comunicação e seu poder na formação da memória das crises; acompanhados por Sousa Santos, Laplantine & Nouss, Martín-Barbero, Viveiros de Castro e Mignolo que estudam a relação entre comunicação e cultura latinoamericana e seus mecanismos internos (profanatórios) que enfrentam a uniformidade difundida pela ciência moderna. O pensamento de Lotman sobre memória, em um diálogo com a noção de testemunho de Agamben, irá ajudar a decifrar as histórias contadas nas notícias e a necessidade de divulgação das vozes não publicadas as das crises permanentes locais. Portanto, entendemos que há uma complexidade do contexto latino-americano que comporta tanto a negatividade de Agamben quanto as possibilidades profanatórias envisionadas por Viveiros de Castro. Além disso, uma reflexão sobre como os meios de comunicação abordam as crises que existem no Brasil e no mundo é significativa para a compreensão das intenções intrínsecas à escolha das notícias e suas imagens e da sua capacidade de abrir espaço para outras narrativas sobre as diferentes histórias locais

This study investigates the socioeconomic effects of the economic crises and the post-crisis programs based on the experiences of Argentina, Indonesia and Turkey. For this purpose, main socioeconomic indicators of these countries are analyzed for the 1990-2002 period by utilizing the before-after methodology. The comparative analysis of the results shows that significant deteriorations in the socioeconomic indicators of these countries had occurred in the crisis periods. In addition, the social policy components of post-crisis programs of these countries are analyzed. In this regard, it is found that the governments and the BWIs are more likely to incorporate active social policy measures, which would mitigate the negative socioeconomic effects of the crises on the households, into the post-crisis programs under the presence of significant public pressure emanating from social protests.

No description available.

Background: Research has shown that the risk of material misstatements increases during exogenous risk shocks. Simultaneously, auditors shall identify and assess the emergent risks. During the GFC, auditors' response was considered satisfactory by some but criticized byothers. Covid-19 presents a new exogenous risk shock which should entail a similar response by auditors. Purpose: The purpose of this study is to determine the effect that exogenous risks during uncertain economic times have on the risk- and materiality assessments of auditors. Further, to determine if auditor independence and trait scepticism affect the relationship between exogenous risk and risk- and materiality assessments. Methodology: This study used a quantitative method by sending out questionnaires to Swedish authorized and approved auditors. The answers were analysed through Spearman correlation matrixes, Paired-samples T-tests, Ordinary Least Squares (OLS) regressions and a binary logistics regression. This study is based on a positivistic perspective and a deductive approach was used. Conclusion: The findings indicated that auditors did make more conservative risk assessments in response to the Covid-19 pandemic. However, they did not adjust the materiality assessments nor performance materiality assessments significantly. Moreover, that the individually situated factors of auditors had impact on the assessments during the pandemic.

This study examines the prevalence of earnings management during the covid-19 pandemic in Swedish listed firms and aims to provide further evidence regarding earnings management practices during the pandemic. The study further investigates whether there are any differences between industries in terms of engaging in opportunistic accounting procedures. Previous research on earnings management during the covid-19 pandemic exclusively examines the year of 2020 as pandemic period. This study aims to contribute with further evidence by expanding the pandemic period and including the fiscal year of 2021, adding one additional fiscal year largely affected by the pandemic. Previous studies on the area finds contrasting results, where some studies find that firms tend to pursue income-increasing practices, while others deliberately decrease financial performance during a crisis. In order to perform this study, the modified Jones model is used to detect accrual-based earnings management through abnormal levels of discretionary accruals. The result of this study finds significantly increased levels of income-decreasing accrual-based earnings management, potentially suggesting that firms engaged in “big bath accounting” during the pandemic in order to boost financial performance in future periods. Additionally, the results show significantly increased levels of income-decreasing earnings management in 2/8 industries.

Submitted by JOSIANE SANTOS DE OLIVEIRA (josianeso) on 2017-10-11T16:50:36Z No. of bitstreams: 1 Rodrigo da Silveira Kappel_.pdf: 1445418 bytes, checksum: b4cf183353ba6f54c976dc3d61b30cb8 (MD5) / Made available in DSpace on 2017-10-11T16:50:36Z (GMT). No. of bitstreams: 1 Rodrigo da Silveira Kappel_.pdf: 1445418 bytes, checksum: b4cf183353ba6f54c976dc3d61b30cb8 (MD5) Previous issue date: 2017-07-13 / L. C. BONATO & CIA LTDA / FDA - Faculdade Dom Alberto / Esta pesquisa investigou os impactos das crises econômicas sobre a decisão de investimento corporativo, em companhias brasileiras de capital aberto, no período entre 1995 a 2015. Para a realização desse trabalho, as empresas foram separadas em dois grupos para captar os efeitos adversos da restrição financeira (restritas e irrestritas) e o efeito moderador dos estoques de ativos líquidos (maior estoque ou menor estoque de ativos líquidos). A avaliação destes relacionamentos demandou a realização de três testes empíricos. Os resultados alcançados no primeiro teste revelam que apenas as proxies payout e tamanho/payout apresentam comportamento preconizado pela teoria para classificação do estado de restrição financeira das firmas, reportando resultados alinhados às evidências promovidas pela estratégia empírica básica de Fazzari, Hubbard e Petersen (1988) para sensibilidade do investimento ao fluxo de caixa. O segundo teste revelou o efeito amplificador das crises econômicas sobre os investimentos das firmas brasileiras, evidenciando uma sensibilidade negativa do investimento ao fluxo de caixa nos períodos de crises econômicas para as firmas restritas, enquanto que os investimentos de firmas irrestritas se mantêm insensíveis ao fluxo de caixa nos períodos recessivos. Essas evidências para firmas irrestritas confirmam o comportamento preconizado pela literatura, enquanto que amplificação do efeito das crises, em firmas restritas, foi observado pela variação negativa ente investimento e fluxo de caixa nestes períodos de choques econômicos. Os resultados obtidos em firmas brasileiras são consistentes com os evidenciados pela teoria, considerando que as crises econômicas afetam os investimentos das companhias, sendo os efeitos amplificados para as firmas restritas. Além disso, os resultados do último teste indicam que os estoques de ativos líquidos (caixa e equivalentes; caixa e equivalentes e trade credit – contas a receber; caixa e equivalentes, trade credit – contas a receber e estoques; caixa e equivalentes, trade credit – contas a receber; estoques, trade credit – contas a pagar; capital de giro líquido) não exerceram efeito amortecedor sobre os relacionamentos investigados, em especial, sobre os investimentos em firmas restritas nos períodos de crises econômicas. Os resultados reportados instigam a continuidade dessas investigações de modo a entender melhor como se procedem os ajustes operacionais e de investimentos, destacadamente nas empresas restritas financeiramente, seja através de novas proxies para capturar melhor o estado de restrição financeira, seja com a construção de outras variáveis para expressar o investimento, ou a liquidez, bem como avaliar os impactos com uma certa defasagem do tempo, dado que uma decisão de investimento é praticamente irreversível. / This research investigated the impacts of economic crises on corporate investment decision in Brazilian publicly traded companies, between 1995 and 2015. In order to carry out this research, the companies were separated into two groups to capture the adverse effects of the financial constraint (constrained and unconstrained) and the moderating effect of net assets stocks (higher or lower liquid assets stock). The evaluation of these relationships required the accomplishment of three empirical tests. The results obtained in the first test show that only the payout and size/payout proxies present the behavior recommended by the theory to classify the firms' financial constraint status, reporting results in line with the evidence promoted by Fazzari, Hubbard and Petersen's (1988) basic empirical strategy for investment sensitivity to cash flow. The second test revealed the amplifying effect of economic crises on the investments of Brazilian firms, showing a negative sensitivity of the investment to the cash flow in economic crises periods for the constrained firms, while the investments of unconstrained firms remain insensitive to the flow of in recessive periods. This evidence for unconstrained firms confirms the behavior advocated by the literature, while the amplification of the effect of crises in constrained firms was observed by the negative variation in investment and cash flow in economic shocks times. The results obtained in Brazilian firms are consistent with those evidenced by the theory, considering that the economic crises affect the companies’ investments and the effects are amplified for the constrained firms. In addition, the results of the last test indicate that net assets stocks (cash and cash equivalents; cash and cash equivalents and trade credit – trade accounts receivable; cash and cash equivalents, trade credit – trade accounts receivable and inventory; cash and cash equivalents, trade credit – trade accounts receivable, inventory and trade credit – suppliers; working capital), did not have a damaging effect on the relationships investigated, especially on investments in constrained firms in economic crisis periods. The reported results instigate the continuity of these investigations in order to better understand how the operational and investment adjustments are made, especially in financially constrained companies, either through new proxies to better capture the state of financial constraint, or to construct other variables to expressing the investment, or liquidity, as well as evaluating the impacts with a certain time, lag since an investment decision is virtually irreversible.

The present licentiate thesis analyses developments in Swedish marine insurance during the interwar period, including both direct marine insurance and marine reinsurance. This is done in order to provide insights on how companies of a highly internationalised and vulnerable line of insurance were affected by and responded to new risks during a period of far-reaching international financial and economic crises. Finally, the consequences of new risks and strategies are assessed. This thesis argues that during the interwar period Swedish maritime trade and Swedish marine insurance greatly depended on each other for marine insurance cover and marine insurance premium incomes. The business results in Swedish marine insurance partly depended on the development of Swedish trade. These business results were also vulnerable to currency risks. Swedish marine insurers faced no similar trade or currency risks during the two decades preceding World War I, and accordingly the returns on Swedish marine insurance were lower during the interwar period than during the last two pre-war decades. These factors probably bore their most severe consequences during the early 1920s when Swedish marine insurance on average induced losses to insurers. The remaining years of the period constituted a long-run recovery, and the Great Depression of the early 1930s caused no difficulties of the same order. This thesis also indicates that interwar Swedish marine insurers responded to new risks by increasing the level of cession to reinsurers. Another response was to increase the level of differentiation among insurance lines. This thesis describes the consequences of new risks and strategies in interwar Swedish marine insurance, focusing on the development of the Swedish marine insurance market structure and on the business results of Swedish marine insurers. Though this market shrunk and grew excessively, the relative importance of stock and mutual insurers showed only minor fluctuations. The importance of specialised marine reinsurance companies, however, fluctuated greatly. Also, cooperation between interwar marine insurers and the formation of insurance groups set new trends of concentration for the future. Finally, even though Swedish marine insurance during some years induced losses the Swedish marine insurers never experienced true losses on their total businesses.

Abstract This thesis includes three separate empirical studies on economic demography and health economics. The first study explores the effect of alcohol consumption on divorce across 23 OECD countries during the period 1960–2010. We find strong evidence that alcohol consumption is a major socioeconomic factor which influences divorces in these countries. We find robust evidence on the relationship between alcohol consumption and divorce rates both in the short and long run. In addition, using worldwide survey data on values we explore whether the change in values with respect to marriage, and moral values can explain our findings. It is noteworthy, that alcohol consumption has a significant effect on divorces even after controlling for moral values. The second and third studies concentrate on the economics of suicide. In the second study, we explore the effects of unemployment on the well-being of the regional population with disaggregated suicide data across gender and age in Finland during 1991–2011. Our findings suggest that the increased job insecurity is associated with higher number of suicides than what is expected in good economic times. The effect is significant especially for the prime working-age (35–64 years old) male suicides. The second main contribution of this study is to relate the concept of social norm to unemployment. We show that in high unemployment areas the association between job loss and suicide mortality is not as severe as in low unemployment areas. An implication is that the burden of unemployment is reduced when it becomes socially more common and acceptable. The goal of the third study is to provide evidence on the effects of economic crises on suicides in 21 OECD countries over the period between 1970 and 2011. In conclusion, this study shows that over 60 000 suicides are attributable to the economic/financial crises since 1970. Two main findings emerged from the data. First, the impact of the most recent global financial crisis (2008) on suicides was not particularly stronger than that of the previous major economic/financial crises. Second, stock market crashes and banking crises are the most severe economic crises in terms of excess suicides when calculated on population-level data. / Tiivistelmä Tämä väitöskirja koostuu kolmesta empiirisestä tutkimuksesta. Tutkimukset keskittyvät väestötason kysymyksiin avioerojen määrään vaikuttavien sosioekonomisten tekijöiden, sekä makrotaloudellisten tekijöiden ja itsemurhien välisen yhteyden näkökulmasta. Ensimmäisessä tutkimuksessa tarkastellaan alkoholin kulutuksen vaikutusta avioerojen määrään 23 OECD-maassa vuosina 1960–2010. Tutkimuksessa havaitaan alkoholin kulutuksen olevan yksi merkittävimmistä avioeroihin vaikuttavista sosioekonomisista tekijöistä sekä lyhyellä että pitkällä aikavälillä tarkasteltuna. Tutkimuksen mukaan alkoholin kulutuksella näyttäisi olevan vaikutusta avioerojen lukumäärään myös silloin, kun moraaliarvoissa tapahtuneet muutokset on huomioitu. Toinen ja kolmas tutkimus keskittyvät itsemurhien taloustieteeseen. Toisessa tutkimuksessa tarkastellaan työttömyyden vaikutuksia hyvinvointiin. Aineistona käytetään maakuntatason sukupuoli- ja ikäryhmäjaoteltua aineistoa itsemurhakuolleisuudesta Suomessa vuosina 1991–2011. Tutkimuksen mukaan kasvava epävarmuus työpaikan pysyvyydestä voi johtaa korkeampiin itsemurhalukuihin kuin mitä olisi odotettavissa parempina taloudellisina aikoina. Tämä tulos näyttäytyy erityisesti työikäisten miesten keskuudessa. Toinen tutkimuksen päätuloksista liittyy sosiaalisten normien näkymiseen siinä, miten työttömyys vaikuttaa itsemurhakuolleisuuteen. Tulokset osoittavat, että korkeamman työttömyyden alueilla työn menettämisen ja itsemurhakuolleisuuden välinen yhteys ei ole niin voimakas kuin matalamman työttömyyden alueilla. Sosiaalisten normien vaikutus näyttäisi suojaavan ihmisiä itsemurhakuolleisuudelta niissä tapauksissa, jolloin työttömyys on yleisempää. Kolmas tutkimus tarjoaa tietoa talouskriisien vaikutuksista itsemurhiin 21 OECD-maassa vuosina 1970–2011. Tutkimuksen mukaan yli 60 tuhannen itsemurhan voidaan katsoa olevan yhteydessä talouskriiseihin vuodesta 1970 lähtien. Löydökset osoittavat, etteivät viimeisimmän globaalin finassikriisin vaikutukset itsemurhakuolleisuuteen poikenneet merkittävästi aikaisempiin laajoihin kriiseihin verrattuna. Lisäksi pankki- ja osakemarkkinakriiseillä näyttäisi olevan muita talouskriisejä vakavammat vaikutukset itsemurhakuolleisuuteen väestötasolla tarkasteltuna.

Submitted by Leonardo Kim (leodsk@yahoo.com) on 2015-09-07T17:24:45Z No. of bitstreams: 1 Dissertação - Leonardo Kim.pdf: 1132880 bytes, checksum: 52435c4e13a7515284f90c2b0d472cb4 (MD5) / Approved for entry into archive by Renata de Souza Nascimento (renata.souza@fgv.br) on 2015-09-08T17:32:40Z (GMT) No. of bitstreams: 1 Dissertação - Leonardo Kim.pdf: 1132880 bytes, checksum: 52435c4e13a7515284f90c2b0d472cb4 (MD5) / Made available in DSpace on 2015-09-08T20:04:59Z (GMT). No. of bitstreams: 1 Dissertação - Leonardo Kim.pdf: 1132880 bytes, checksum: 52435c4e13a7515284f90c2b0d472cb4 (MD5) Previous issue date: 2015-08-18 / In this paper, an analysis of the Brazilian monetary policy from 2000 to 2008 is made in order to understand how independent it was from actions of the Federal Reserve. The importance of this understanding lies in the impending rising movement of US interest rates, although still without a specific date, but which can bring consequences to the foreign exchange and domestic interest rates at a time when there is already an ongoing monetary tightening in the country. Besides, the effects of other variables linked to external situations as crisis events, exchange rate and country risk in Brazilian interest rate are also taken into consideration. The results indicate that, during the study period, the national monetary policy was marked by greater autonomy relatively to fluctuations on the American interest rates, which may have been helped by the adoption in 1999 of floating exchange rates. / Neste trabalho, é feita uma análise da política monetária brasileira no período de 2000 a 2008 com o intuito de entender o quão independente ela foi em relação às ações do Federal Reserve. Esse entendimento é importante devido à iminente movimentação de subida de juros nos EUA, ainda sem data precisa para ocorrer, mas que pode trazer consequências no câmbio e nos juros domésticos em um momento em que já há um aperto monetário em curso no país. Além disso, os efeitos de outras variáveis ligadas a situações externas como eventos de crise, câmbio e risco país nos juros brasileiros também são levados em consideração. Os resultados indicam que, no período de estudo, a política monetária nacional foi marcada por uma maior autonomia em relação às flutuações nos juros americanos, fato que pode ter sido auxiliado pela adoção em 1999 do câmbio flutuante.

The diploma thesis "The Labour Market in the European Union" evaluates the developments of the labour market in the European Union and the mechanisms of the European Union's employment policy in the period of 2000-2010. The theoretical definitions of the main labour market categories and three major macroeconomic models are explained in the first chapter. The second part provides comparative analysis of them member states based on selected labour market indicators -- employment, unemployment, labour productivity and costs and labour market policy The third chapter investigates in the activities of the European Union in the area of employment policy and more closely focuses on the European Employment Strategy, its guidelines and influence on member states policy setting. The chapter closes with the overview of the financial resources activated by the EU to support employment in response to the financial crisis.