Background: The origin of this study was the negotiations around a EU takeover directive, aimed at making the market for corporate control more open. One of the proposals was to neutralise shares carrying multiple rights in takeover situations when a potential acquirer obtains 75% of the total share capital. For many Swedish ownership groups, this would mean that the system of unequal voting rights, constituting an important defense to their control, would decrease in effectiveness. In the middle of writing this thesis, an EU agreement was finally reached, making the proposal voluntary to adopt. The imminent threat posed to the Swedish system faded, but has though not disappeared since the present rules anew will be brought under inspection in five years. Purpose: To give examples on potential tactics to adopt if unequal voting rights would risk to become neutralised in takeover situations, these tactics dependent on two different scenarios: (1) Present Swedish ownership structure is considered advantageous for the country and thus to be remained or (2) A more open market for takeovers is desired. Course of action: Interviews have been conducted with parties within Swedish trade and industry, partly in order to assess the value and necessity of the content of this thesis. Conclusion: The threat of an abolition of the unequal voting rights is not perceived as imminent by parties within Swedish trade and industry and few alternative resistance strategies are suggested. If current Swedish ownership structure is to be remained, the author proposes competition-reducing defenses, if a more open market for takeovers is aimed for, auction-inducing resistance strategies. The choice of how to proceed should depend on how afraid the Swedish Government and Swedish companies are of a change in present ownership structure.

本文主要探討公司治理體系下控制權市場所發揮之功能，內容大致上分為四個部分。第一部分先就公司治理理論以及不同體系加以介紹，從Ronald H. Coase交易成本理論、Berle & Means五種公司類型，以及代理理論說明公司治理的理論基礎，再分別介紹OECD以及World Bank的公司治理架構，而控制權市場則是公司治理體系下，外部治理機制的一項重要工具，最後就美國、日本與我國的公司治理體系加以介紹。 第二部分則是說明企業併購促使控制權市場發揮治理成效之主要活動，因此，分別就美國、日本與我國企業併購之概況加以闡述。美國歷經了五次併購風潮，有其經濟、文化等結構性因素，而日本與我國過去並未發生併購風潮，然而隨著結構性因素的改變，再加上全球化的浪潮，日本與我國併購活動有逐漸加溫之趨勢。 視敵意併購為控制權市場之主要利器，這是因為企業雖然有可能因為善意併購後，改善效率進而增加股東權益，有助於公司治理，但敵意併購活動更兼具威嚇現任經營者之效果，因此，敵意併購活動於公司治理體系上，一方面可汰換不適任經營者，另一方面亦可對現任經營者造成威嚇使其不敢進行有礙於股東權益之情事。而主併者進行敵意併購，主要可行的途徑有二：一為收購股權，另一為委託書徵求。就法制面而言，則見諸公開收購以及委託書管理相關規定。 第三部分開始探討敵意併購法制，本文分別介紹了美國、日本以及我國公開收購制度，目前我國已從事先核准制修正為事先申報制，與美國、日本之申報制相近。但對於公開收購定義則大相逕庭，美國採八項要素判斷，日本與我國則加以明確定義。另外股東平等原則部份，美國、日本與我國同採「比例分配制」，關於禁止變更收購條件的範圍，則是美國最寬鬆因此有利於主併者，而日本最嚴格。至於美國州法下的反併購條款在我國與日本並未出現。而關於我國引進強制公開收購制度，本文分別引述支持與反對者之意見，並基於促進併購活動發生有利於公司治理此一面向，說明強制公開收購制度可能之影響。 第四部份探討美國、日本與我國關於委託書徵求相關制度，就資訊公開的內容而言，美國、日本與我國相關規定大同小異，但徵求人資格限制以及徵求股份總數限制為我國獨有，況且因公司派掌握紀念品的製作權以及發放權，加上相關規定使投信事業必須支持符合持股成數之之公司董事會提出之議案或董事、監察人候選人，且又就使用股東名冊的難易程度而言，我國委託書徵求相關規定實對現任經營者較有利。 而關於委託書價購與否之爭論，本文分別就正反兩方之理由加以介紹，後從公司治理之角度出發，認為收購委託書可能使管理者有更多經濟上誘因進行舞弊，有礙於公司治理，故應禁止之。 最後比較公開收購制度與委託書徵求制度二者，分別從所需資金、成本風險控制、實施之便宜性以及公司治理角度，希冀我國未來公開收購制度能善加運用，發揮公司治理之功效。文末並提出相關建議，以供將來之研究或主管機關作為參考。 / This dissertation mainly discusses the role of control market in the framework of corporate governance. It is composed of four parts. The first part introduces relevant theories of corporate governance, including Ronald H. Coase’s “transaction cost theory”, Berle & Means’ “five types of corporation”, and agency theory. Then the diverse frameworks of corporate governance including OECD, World Bank, in which control market is indicated as a significant external mechanism, are illustrated. At last, the U.S., Japan, and Taiwan's frameworks of corporate governance are introduced respectively. The second part explains that the merges & acquisitions (M&A) is one of the major activities that make control market operate effectively. Then the general situations of the M&A in the U.S., Japan, and Taiwan are introduced. Taken as a main mechanism of control market, hostile takeover not only strikes inefficient managers but menaces the incumbent from fraud. Two major feasible approaches of hostile takeover are purchasing stocks and soliciting proxies. The rules of tender offer and proxy contest are relevant. The third part discusses the legal institution of hostile takeover. The rules of tender offer of U.S., Japan, and Taiwan are introduced. Then the similarities and dissimilarities between the rules from the definitions of tender offer, equal treatment to shareholders, and anti-takeover strategies are detailed. At the end of this part, different points of view about mandatory tender offer and its relation with corporate governance are discussed. The fourth part explores (investigates) the rules of proxy contest of the U.S., Japan, and Taiwan. They are similar in the disclosure principle, but only Taiwan set limitations on the qualification of solicitors and the amount of proxies. In addition, the incumbent in Taiwan have the control over the manufacturing and delivery of the tokens for shareholders in annual meetings. What’s more, regulations force the institute-investors to support the incumbent. In conclusion, the proxy rules in Taiwan favor the incumbent. Also, the arguments over proxy purchase and its relation with corporate governance is mentioned. At last, this paper compares tender offer with proxy soliciting in several aspects: the fund needed, risk control, convenience, and corporate governance. In the end, the conclusion provides some suggestions for legislators and future studies.

L’étude utilise la méthode des différences entre jumeaux monozygotes pour analyser le lien entre les pratiques parentales positives ou hostiles-réactives de la mère à 29 mois et la qualité des relations d’amitié des enfants à 6 ans, tout en contrôlant une série de facteurs confondants tels le sexe, le revenu familial, le tempérament et le poids à la naissance. Un effet modérateur du sexe est aussi testé. La méthodologie nouvelle et particulière de cette recherche permet de contrôler de possibles corrélations gènes-environnement. Les résultats ne concordent pas tous avec les hypothèses et démontrent que 1) le jumeau ayant reçu le plus de pratiques parentales positives de la mère est celui dont l’ami évalue le plus négativement sa relation d’amitié à 6 ans et 2) le jumeau ayant reçu le plus de pratiques parentales hostiles-réactives de la mère est celui dont l’ami évalue le moins positivement sa relation d’amitié à la maternelle. Différentes pistes d’explications sont proposées pour comprendre les résultats et pour guider les études futures. / This study used the monozygote twin differences method to analyze the links between positive or hostile maternal practices by the mother at 29 months and children’s friendship quality at 6 years of age. This new methodology can control for any possible genes-environment correlations. We also controlled for temperament, weight at birth, gender and socioeconomic status and we tested whether gender moderated the link between variables. Results are unexpected: 1) the twin who received the most positive maternal practices had the friend who evaluated the most negatively their friendship, 2) the twin who received the most hostile practices from his mother had the friend who evaluated the less positively their friendship. We propose different explanations to understand the results and we make suggestions for future studies.

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Text in Afrikaans / The Gestalt Play Therapeutic approach is used as contextual frame in this research where-in music is applied as an aid for the aggressive emotions of the primary learner. Emotional and behavioral problems in children in primary and secondary schools and even in pre-primary schools, are assuming alarming proportions. From the holistic approach of the Gestalt theory, it has an influence on the development of areas such as the emotional, physical, cognitive and social in the phase of middle childhood. There is a lack of research findings on the effect of music during support to the aggressive primary learner within a Gestalt Play Therapeutic frame. The experimental single system design was used as research method as part of the quantitative investigation. The conclusion is that music was used successfully in the handling of rage and aggressive emotions in the group of child respondents within the context of the Gestalt approach. / Social Work / M.Diac. (Play Therapy)

Never before has the learning experience of incarcerated persons been captured by one of their fellow inmates. Public perception is that prisoners should be denied access to educational opportunities and be punished for the crimes committed. In this groundbreaking study, situated in the qualitative paradigm, I recorded the learning experiences of a group of inmates who are studying at undergraduate level, via distance learning. This phenomenological study originated from my experience of studying while incarcerated, and is aimed at increasing our knowledge of, and enhancing our understanding of incarcerated persons. The study focuses on the learning experiences and challenges encountered by these students. Data was collected from the participants using qualitative methods and analysed using content analysis. Interpretation of the data revealed a number of factors which impede the studies of these students. The investigation is of importance to all persons involved in the Corrections environment but also the general public as inmates return to their communities upon release. / Curriculum and Instructional Studies / M. Ed. (Curriculum Studies)

全球併購浪潮下，敵意併購向來是併購議題中備受矚目的焦點，許多國家均針對敵意併購設有明確的法規範，而我國自2002年通過企業併購法以來，已歷經十五年，在敵意併購相關法制的建構上卻顯有不足，導致實務上面臨許多問題。蓋我國近年來引發高度關注的敵意併購案件，幾乎皆以失敗收場，且雙方攻擊防禦的過程中往往演變為經營權惡鬥，不僅兩敗俱傷，亦使公司及股東利益蒙受損失。 有鑑於前述情況，本文擬從實證觀點探討我國企業環境與文化脈絡對於敵意併購之影響，並透過國內曾發生過的案例、主管機關的態度與法院見解，對我國現行法制進行反思。另外，本文亦藉由美國、英國、德國、歐盟和日本之比較法研究，從目標公司採行防禦措施之相關規範、對於股東之資訊揭露以及少數股東權益保障等面向，討論出可能且適合用於我國之規範方向，以作為建構我國敵意併購法制之參考。 / In the wave of global mergers and acquisitions, hostile takeover has long been a focal point on the issues relating to mergers and acquisitions. Many countries have already built up more transparent regulatory regimes specifically for hostile takeover activities. However, since Taiwan promulgated the Business Mergers and Acquisitions Act in 2002, the relevant laws and regulations were not sufficient to govern hostile takeover activities during the past fifteen years and a number of issues arose in practice. In recent years, the well-known hostile takeover cases in Taiwan all ended up in failure. The actions taken by the party initiating hostile takeover and the target company often led to corporate control contests, making both parties and the shareholders suffer losses. This thesis examines the influences of Taiwanese culture and corporate environment on hostile takeover. It also marks the deficiencies of the current regulatory regime in Taiwan by reviewing the hostile takeover cases, the opinions of the competent authority and the judicial judgements. In addition, this thesis introduces the legislations of the United States, England, Germany, European Union, and Japan on anti-takeover tactics, information disclosure as well as the protection of minority shareholders’ rights and interests. The thesis then analyzes whether these legal systems are suitable as a reference for Taiwan to establish relevant laws and regulations in the future.

La globalisation et les crises économiques successives, les pressions de la concurrence et les exigences des clients contraignent les entreprises pour survivre à initier des changements et à réviser leurs promesses et perspectives de rétributions, parfois de manière brutale. Les frontières organisationnelles se délitent, des relations atypiques et triangulaires se développent, les collectifs de travail sont fragilisés, les valeurs interpellées. L’équivocité des situations initie des processus de sensemaking. Les schémas mentaux traditionnels de la relation d’emploi basés sur la confiance, la stabilité et la fidélité sont bousculés. A la sécurité d’emploi à long terme et la carrière interne se substitue la notion d’employabilité et de flexisécurité. Les employés essaient de percevoir et d’interpréter ce qui survient dans les organisations. Les « contract makers » viennent alors préciser et expliquer les changements dans les promesses et obligations du contrat psychologique entre l’employé et l’organisation. En cas d’échec, ce sont les « contract influencers » comme les syndicats qui viennent donner un sens qui n’est pas forcément celui attendu par le management… Les plans de restructuration avec réduction d’effectif se multiplient engendrant des processus de rupture et de violation du contrat psychologique et un climat social dégradé. Les processus de cession de site, l’absence de perspectives à long terme engendrent de l’incertitude et de l’inquiétude chez les salariés, des contrats psychologiques de transition sans garantie émergent et lorsque la situation perdure ces derniers sont susceptibles d’engendrer des comportements hostiles et déviants qui peuvent conduire à un contrat psychologique de défiance.La présente thèse étudie le processus de formation et d’évolution du contrat psychologique sous le prisme du sensemaking du personnel d’une entreprise agro-alimentaire de Dijon. Un cadre d’analyse contextualiste basé sur une méthode mixte quantitative et qualitative nous permet de suivre les processus de formation, d’évolution de rupture et de reconstruction du contrat psychologique et de comprendre comme les acteurs organisationnels construisent la réalité. / Globalization and economic crises, as well as the pressures of competition and customer demands, are forcing companies, in order to survive, to initiate changes and revise their promises and payment prospects, sometimes in a brutal way. Organizational boundaries are disintegrating, atypical or triangular relationships are developing, staffs feel weakened, and values are ?. The ambiguity of these situations initiates the processes of sensemaking. Traditional expectations based on trust, stability and fidelity are shaken up. Job security and long-term internal careers are being replaced by the concepts of employability and flexisecurity. Employees try to understand and to detect what is happening in organizations. « Contract makers » then come a long side to explain and to detail changes in the promises and obligations of the psychological contract between the employee and the organization. When this process fails, it is the « contract influencers » such as unions who give meaning, but is not necessarily the one the management expected... Restructuring plans which include downsizing lead to the increasing number of processes of rupture and violation of the psychological contract and down-grading in the social climate. The process of selling the site and, the lack of long-term prospects create uncertainty and anxiety among employees. Transitional psychological contracts with no guarantee conditions emerge and when this situation persists it is likely to generate hostile and deviant behaviors that can lead to distrust psychological contract.This thesis examines the process of forming and developing the psychological contracts through the prism of sensemaking, employees of a food company in Dijon. An analytical framework based on a contextualist quantitative and qualitative mixed method allows us to follow the process of establishing and developing rupture and reconstruction of psychological contracts, as well as to understand how people concerned in the organization construct reality.

Studiens syfte är att undersöka olika former av exkluderande design i offentliga och semi-offentliga rum, samt vilka konsekvenser en sådan design kan ha på olika samhällsgrupper. Studiens resultat är baserade på fokuserade observationer av den fysiska designen, främst i Göteborg, i triangulering med innehållsanalys av översikts- och detaljplaner. Studiens resultat visar att en mångfald av designmodeller användes i de observerade offentliga och semi-offentliga rummen, varav en del av dessa designer kan ses som exkluderande. Majoriteten av observerade sittplatser finns hos privata aktörer som caféer och uteserveringar, vilket signalerar ett behov av att vara konsument för att få ta del av dessa semi-offentliga platser. Semi-offentliga platser som var stängda nattetid samt hinder mot skateboardåkning var andra observerade designer som riktar in sig på särskilda samhällsgrupper eller beteenden. Fyra grupper anses vara speciellt påverkade av exkluderande design: hemlösa, funktionsnedsatta, resurssvaga, samt skateboardåkare. I kontrast till tidigare forskning anser vi att flera av de observerade designerna kan anses vara inkluderande istället för att enbart ses som exkluderande. / The aim of this study is to explore different forms of unpleasant design in public and semi-public spaces and what potential consequences such design may have on different social groups. The results are based on focused observations of the physical designs themselves, primarily in Gothenburg, Sweden, in triangulation with text analysis of official documentations of land use and zoning plans. The findings indicate that a variety of designs were used throughout the observed public and semi-public spaces, some of which can be seen as unpleasant. Most of the observed seating options were located within privatised businesses, signalling the need to be a consumer to use these semi-public spaces. Semi-public spaces that are inaccessible during the night as well as anti-skate obstacles were other observed designs that targeted a certain group or behaviour. Four social groups were found to be more of a target or sufferer of the designs: the homeless, people with disabilities, the destitute, and skateboarders. In contradiction to previous research a substantial amount of the observed designs can be perceived as inclusive rather than only exclusionary.

No description available.