Considerando a importância da TI no ambiente de negócios e os riscos inerentes ao emprego dessa tecnologia, este estudo visa buscar evidências de melhoria de desempenho de empresas com a realização de gerenciamento de riscos de TI (GRTI). A pesquisa em curso seguiu a metodologia da Hipótese de Eficiência de Mercado, na sua forma semiforte, isto é, utilizando o método de janela de eventos. Com essa metodologia estimaram-se os retornos anormais na valorização das ações de empresas, oriundos da publicação de eventos de GRTI pelas empresas de capital aberto brasileiras, obtidos a partir do site da BMF&BOVESPA. Foram analisadas todas as empresas listadas em todo o período disponível no site, isto é, de 2003 até 2016, perfazendo um total aproximado de 400 empresas em cada ano. Essa análise utilizou ferramentas de busca do próprio site para encontrar anualmente todos os documentos que contivessem menção à palavra risco. Todos os documentos públicos obtidos com essa filtragem foram examinados detalhadamente para identificar evidências de que a empresa realizou, pela primeira vez, ações de GRTI, isto é, de que a empresa anunciou ao mercado que o GRTI passou a fazer parte de suas rotinas operacionais e administrativas. Depois dessa análise pormenorizada de todos os documentos publicados por essas empresas no site da BMF&BOVESPA, chegou-se a 22 empresas que evidenciaram ao mercado que fazem GRTI. Essas 22 empresas foram examinadas à luz da metodologia de janela de eventos. Os resultados obtidos indicam que, no cenário brasileiro, não é possível afirmar que o GRTI traz uma melhora no desempenho financeiro das empresas, uma vez que a hipótese nula de alteração do valor do retorno das ações não foi invalidada. Infere-se que o mercado não percebe uma diferença de valor nas ações dessas empresas, em função dos eventos de GRTI. Com intuito de suportar teoricamente esta pesquisa, foram reunidas as principais pesquisas em governança de TI e GRTI e relacionando-as a um desempenho financeiro empresarial. / Considering the importance of IT in the business environment and the risks inherent in the use of this technology, this study aims to seek evidence of improved performance of companies with IT Risk Management (ITRM). The research followed the methodology of the Market Efficiency Hypothesis, in its semi-strong-form, that is, using the event window method. This methodology was used to estimate the abnormal returns on the valuation of companies' shares, resulting from the publication of ITRM events by Brazilian publicly traded companies, obtained from the BMF&BOVESPA website. All listed companies were analyzed throughout the period available on the site, that is, from 2003 to 2016, approximately 400 companies in each year. This analysis used search tools from the site itself to find annually all documents that contained mention to the word risk. All public documents obtained by this filtering were examined in detail to identify evidence that the company held, for the first time, ITRM actions. That is, the company announced that ITRM became part of their administrative and operational routines. After this detailed analysis of all documents published by these companies from Brazilian stock exchange, 22 companies evidenced to the market that do ITRM. These 22 companies were examined under the event window methodology. The results indicate that, in the Brazilian scenario, it is not possible to affirm that the ITRM brings an improvement in companies’ financial performance, since the null hypothesis of change shares’ return values was not negated. It is inferred that the market does not notice a difference in these companies’ share values due to ITRM events. In order to theoretically support this research, the main studies in IT governance and ITRM were gathered and related to a business financial performance.

This work deals with IT market (especially hardware) and tracks its trends and development. In the first chapters assesses the current status and future development of strategic hardware components. Software technologies (that affect the hardware) are also mentioned. These are Cloud computing, operating systems and the Internet. In addition, all relevant factors (that should be taken into account when choosing a computer) are included. For example the choice between desktop and laptop, or Mac and PC (Windows). In the next section, the typical corporate roles are analysed according to their computer performance requirements. The hardware recommendations for the individual user roles is the main purpose of this work

Considerando a importância da TI no ambiente de negócios e os riscos inerentes ao emprego dessa tecnologia, este estudo visa buscar evidências de melhoria de desempenho de empresas com a realização de gerenciamento de riscos de TI (GRTI). A pesquisa em curso seguiu a metodologia da Hipótese de Eficiência de Mercado, na sua forma semiforte, isto é, utilizando o método de janela de eventos. Com essa metodologia estimaram-se os retornos anormais na valorização das ações de empresas, oriundos da publicação de eventos de GRTI pelas empresas de capital aberto brasileiras, obtidos a partir do site da BMF&BOVESPA. Foram analisadas todas as empresas listadas em todo o período disponível no site, isto é, de 2003 até 2016, perfazendo um total aproximado de 400 empresas em cada ano. Essa análise utilizou ferramentas de busca do próprio site para encontrar anualmente todos os documentos que contivessem menção à palavra risco. Todos os documentos públicos obtidos com essa filtragem foram examinados detalhadamente para identificar evidências de que a empresa realizou, pela primeira vez, ações de GRTI, isto é, de que a empresa anunciou ao mercado que o GRTI passou a fazer parte de suas rotinas operacionais e administrativas. Depois dessa análise pormenorizada de todos os documentos publicados por essas empresas no site da BMF&BOVESPA, chegou-se a 22 empresas que evidenciaram ao mercado que fazem GRTI. Essas 22 empresas foram examinadas à luz da metodologia de janela de eventos. Os resultados obtidos indicam que, no cenário brasileiro, não é possível afirmar que o GRTI traz uma melhora no desempenho financeiro das empresas, uma vez que a hipótese nula de alteração do valor do retorno das ações não foi invalidada. Infere-se que o mercado não percebe uma diferença de valor nas ações dessas empresas, em função dos eventos de GRTI. Com intuito de suportar teoricamente esta pesquisa, foram reunidas as principais pesquisas em governança de TI e GRTI e relacionando-as a um desempenho financeiro empresarial. / Considering the importance of IT in the business environment and the risks inherent in the use of this technology, this study aims to seek evidence of improved performance of companies with IT Risk Management (ITRM). The research followed the methodology of the Market Efficiency Hypothesis, in its semi-strong-form, that is, using the event window method. This methodology was used to estimate the abnormal returns on the valuation of companies' shares, resulting from the publication of ITRM events by Brazilian publicly traded companies, obtained from the BMF&BOVESPA website. All listed companies were analyzed throughout the period available on the site, that is, from 2003 to 2016, approximately 400 companies in each year. This analysis used search tools from the site itself to find annually all documents that contained mention to the word risk. All public documents obtained by this filtering were examined in detail to identify evidence that the company held, for the first time, ITRM actions. That is, the company announced that ITRM became part of their administrative and operational routines. After this detailed analysis of all documents published by these companies from Brazilian stock exchange, 22 companies evidenced to the market that do ITRM. These 22 companies were examined under the event window methodology. The results indicate that, in the Brazilian scenario, it is not possible to affirm that the ITRM brings an improvement in companies’ financial performance, since the null hypothesis of change shares’ return values was not negated. It is inferred that the market does not notice a difference in these companies’ share values due to ITRM events. In order to theoretically support this research, the main studies in IT governance and ITRM were gathered and related to a business financial performance.

Considerando a importância da TI no ambiente de negócios e os riscos inerentes ao emprego dessa tecnologia, este estudo visa buscar evidências de melhoria de desempenho de empresas com a realização de gerenciamento de riscos de TI (GRTI). A pesquisa em curso seguiu a metodologia da Hipótese de Eficiência de Mercado, na sua forma semiforte, isto é, utilizando o método de janela de eventos. Com essa metodologia estimaram-se os retornos anormais na valorização das ações de empresas, oriundos da publicação de eventos de GRTI pelas empresas de capital aberto brasileiras, obtidos a partir do site da BMF&BOVESPA. Foram analisadas todas as empresas listadas em todo o período disponível no site, isto é, de 2003 até 2016, perfazendo um total aproximado de 400 empresas em cada ano. Essa análise utilizou ferramentas de busca do próprio site para encontrar anualmente todos os documentos que contivessem menção à palavra risco. Todos os documentos públicos obtidos com essa filtragem foram examinados detalhadamente para identificar evidências de que a empresa realizou, pela primeira vez, ações de GRTI, isto é, de que a empresa anunciou ao mercado que o GRTI passou a fazer parte de suas rotinas operacionais e administrativas. Depois dessa análise pormenorizada de todos os documentos publicados por essas empresas no site da BMF&BOVESPA, chegou-se a 22 empresas que evidenciaram ao mercado que fazem GRTI. Essas 22 empresas foram examinadas à luz da metodologia de janela de eventos. Os resultados obtidos indicam que, no cenário brasileiro, não é possível afirmar que o GRTI traz uma melhora no desempenho financeiro das empresas, uma vez que a hipótese nula de alteração do valor do retorno das ações não foi invalidada. Infere-se que o mercado não percebe uma diferença de valor nas ações dessas empresas, em função dos eventos de GRTI. Com intuito de suportar teoricamente esta pesquisa, foram reunidas as principais pesquisas em governança de TI e GRTI e relacionando-as a um desempenho financeiro empresarial. / Considering the importance of IT in the business environment and the risks inherent in the use of this technology, this study aims to seek evidence of improved performance of companies with IT Risk Management (ITRM). The research followed the methodology of the Market Efficiency Hypothesis, in its semi-strong-form, that is, using the event window method. This methodology was used to estimate the abnormal returns on the valuation of companies' shares, resulting from the publication of ITRM events by Brazilian publicly traded companies, obtained from the BMF&BOVESPA website. All listed companies were analyzed throughout the period available on the site, that is, from 2003 to 2016, approximately 400 companies in each year. This analysis used search tools from the site itself to find annually all documents that contained mention to the word risk. All public documents obtained by this filtering were examined in detail to identify evidence that the company held, for the first time, ITRM actions. That is, the company announced that ITRM became part of their administrative and operational routines. After this detailed analysis of all documents published by these companies from Brazilian stock exchange, 22 companies evidenced to the market that do ITRM. These 22 companies were examined under the event window methodology. The results indicate that, in the Brazilian scenario, it is not possible to affirm that the ITRM brings an improvement in companies’ financial performance, since the null hypothesis of change shares’ return values was not negated. It is inferred that the market does not notice a difference in these companies’ share values due to ITRM events. In order to theoretically support this research, the main studies in IT governance and ITRM were gathered and related to a business financial performance.

Inom ramen för en alltmer konkurrensutsatt arbetsmarknad inom IT, där kraven på individuell kompetens ökar i takt med specifika förväntningar från kunderna på att IT-konsultföretag ska tillhandahålla specialiserad expertis och en allmänt intensifierad konkurrenssituation mellan IT-konsultföretag, står företagen inför utmaningen av en osäker framtid och påtaglig stress för att säkerställa sin överlevnad. Syftet med denna studie var att undersöka och analysera metoder och strategier för kompetensutveckling inom IT-konsultbranschen. Dessutom syftade studien till att undersöka hur IT-konsultföretag identifierar och möter behov och utmaningar genom kompetensutveckling och hur detta bidrar till både individuell tillväxt och organisationsframgång. För att uppnå studiens syfte användes en kvalitativ metod. Datainsamlingen består av detaljerade intervjuer med elva anställda i åtta företag inom IT-konsultbranschen. Det insamlade materialet analyserades tematiskt. Informanterna bidrog med stor insikt och expertis inom ämnet, vilket starkt underlättade genomförandet av studien. Genom en detaljerad analys av intervjuer med informanter från flera IT-konsultföretag framkom en bild av en mångsidig och strategisk läroansats som fokuserar på både individens initiativ och företagets stöd. Användningen av modellen 70-20-10 understryker vikten av praktik, interaktion och formell utbildning i processen för kompetensutveckling, vilket inte bara främjar individuell tillväxt utan även organisatorisk framgång. Utmaningar som tidsbegränsningar och balans mellan kundengagemang och personlig utveckling hanteras genom företagens flexibla strategier som möjliggör kontinuerlig utveckling. Betydelsen av informell kompetensutveckling betonas också och skapar en kultur av öppet kunskapsflöde och kontinuerligt lärande. Uppföljning och certifieringar lyfts fram som nyckelkomponenter för att säkerställa effektiva utvecklingsinsatser, medan framtiden pekar på ett större fokus på att anpassa sig till nya teknologier som AI samt att utveckla mjuka färdigheter. Sammanfattningsvis identifierar studien kompetensutveckling som en kärnkomponent i att bygga långsiktig konkurrenskraft och framgång för IT-konsultföretag, vars framtid kräver kontinuerlig anpassning och innovation i en föränderlig bransch. / In the backdrop of a fiercely competitive IT labor market marked by escalating demands on individual competence and heightened client expectations, IT consulting firms confront an uncertain future, necessitating proactive measures to ensure survival. This study aimed to scrutinize competence development methods and strategies within the IT consulting sector, probing how firms address challenges and cater to evolving needs. Employing qualitative methodology, detailed interviews with eleven employees across eight IT consulting companies were conducted and thematically analyzed. Insights gleaned from informants underscored a strategic learning paradigm encompassing both individual initiative and organizational support. Emphasizing the 70-20-10 model, the study highlighted the significance of practice, interaction, and formal education in fostering talent retention and growth. Flexible strategies were identified to tackle challenges like time constraints, enabling continuous personal and professional development. Informal skills enhancement emerged as pivotal, fostering a culture of perpetual learning and knowledge exchange. Notably, follow-up mechanisms and certifications were underscored as essential for effective development initiatives, while the future outlook pointed towards a heightened focus on adapting to emerging technologies like AI and honing soft skills. In essence, the research underscores skills development as a linchpin for the long-term competitiveness and success of IT consulting firms, necessitating ongoing adaptation and innovation in the face of an evolving industry.

<p>Dividend policy has significant impact on the company's capital market, in particular the dynamics of the price of its shares. Dividends represent cash income of shareholders and to some extent, signal them about success of the firm they have invested. From that point of view dividend policy has crucial impact on investment decisions.</p><p>Numbers of valuation models based on dividend payouts exist in the financial theory and they imply importance of dividends in making investment decisions. Alternatively some authors argue that role of the dividends is overestimated, as investors do not separate dividends and capital earnings. I believe that dividend policy has broad influence not only on share valuation, but also on capital structure of the company and its stock market liquidity.</p><p>Study intended to discover if dividend payouts and future earnings can be predicted based on stock market liquidity and capital structure. I have analysed 72 companies associated with Nordic information technologies market and tried to find main characteristics of dividend policy adopted in those companies. I have divided my research question into three parts and studied hypotheses which are associated with the research question.</p><p>I found relationship of dividend policies with future earnings growth power, firm capital structure and market liquidity. As a result of my study I have observed financial statements data and obtained the following outcome: (1) with stable dividend policy, payout ratio is positively related to the future earnings growth rate (2) companies that have less liquid stock markets are more likely to pay dividends (3) companies with low leverage ratios have more probability of paying dividends. Also I have found that historically low payout ratio is harbinger of low or even negative earnings growth rates.</p><p>I believe that based on findings mentioned above, effective investment policy could be created. For the investor who favours to invest in company with high earnings growth perspectives and receive high dividends in the future, results of the study could be interesting. According to the results of the research, for “dividend preferring” investor, funds should be invested in the company with constantly high payout ratio, low stock market liquidity and debt-to-equity ratio below 1. In that case the probability of meeting investment expectations would be much higher.</p>

Dividend policy has significant impact on the company's capital market, in particular the dynamics of the price of its shares. Dividends represent cash income of shareholders and to some extent, signal them about success of the firm they have invested. From that point of view dividend policy has crucial impact on investment decisions. Numbers of valuation models based on dividend payouts exist in the financial theory and they imply importance of dividends in making investment decisions. Alternatively some authors argue that role of the dividends is overestimated, as investors do not separate dividends and capital earnings. I believe that dividend policy has broad influence not only on share valuation, but also on capital structure of the company and its stock market liquidity. Study intended to discover if dividend payouts and future earnings can be predicted based on stock market liquidity and capital structure. I have analysed 72 companies associated with Nordic information technologies market and tried to find main characteristics of dividend policy adopted in those companies. I have divided my research question into three parts and studied hypotheses which are associated with the research question. I found relationship of dividend policies with future earnings growth power, firm capital structure and market liquidity. As a result of my study I have observed financial statements data and obtained the following outcome: (1) with stable dividend policy, payout ratio is positively related to the future earnings growth rate (2) companies that have less liquid stock markets are more likely to pay dividends (3) companies with low leverage ratios have more probability of paying dividends. Also I have found that historically low payout ratio is harbinger of low or even negative earnings growth rates. I believe that based on findings mentioned above, effective investment policy could be created. For the investor who favours to invest in company with high earnings growth perspectives and receive high dividends in the future, results of the study could be interesting. According to the results of the research, for “dividend preferring” investor, funds should be invested in the company with constantly high payout ratio, low stock market liquidity and debt-to-equity ratio below 1. In that case the probability of meeting investment expectations would be much higher.

Many companies from around the world enter the global market. The firms have to specialize in order to sustain their competitiveness. Many Taiwanese companies are export-oriented. The major export markets are Japan, the US and Europe for those Taiwan companies. But these markets are mature and the growth rate is low unlike Russian market. That is why many Taiwan companies entered or plan to enter Russian market. Due to the fact that Russia is a potentially big market and geographically far from Taiwan-ROC, and a fast developing economy, establishing business in Russia is certainly interesting. According to the Bureau of Foreign Trade, Ministry of Economic Affairs Taiwan- ROC, mutual trade in 2009 posted US$2,9 billion, Bureau of Foreign Trade (2010). While many companies show great interest in entering the Russian market, there still seems to be some kind of hesitation due to the special nature of the Russian market. In this thesis I will focus on an emerging Russian market and its appeal to foreign companies, namely Taiwanese company such as Asus which made its path into Russian market. Target is to describe Asus initial entry strategies. Problem Statement There are many external factors affecting entry strategies picked up by firms around the world. Legal, political, cultural and institutional factors are just some of the many factors that should be dealt with when operating business on a foreign turf. Many people want to know more on Russian market business experiences, it is hard to find any particular works/papers which can describe a current situation and lead them to commercial success. Russian Federation is a very complex region with its own traditions and business culture. What particular Foreign Operation Methods should a company choose? Indeed choosing right FOM represents a critical component of international business activity. Once described as a ”frontier issue” in international business, researchers as well as practitioners now regard it as fundamental to any discussions about international business strategies and the performance by companies in the international arena. Purpose Despite the fact that in Russian Federation the cost of opening a business is higher than in most other countries and many other destabilizing factors, Asus has found its path to success. How was it possible? What are the lessons one can learn from that experience? The purpose of the thesis is to find out the success factors of Asus as well as study its entry strategy. The research purposes of this paper are as follows: 1. To review the related literature of Entry Strategies 2. To study Russian market 3. To analyze Asus initial entry strategies and analyze its Russian business