On September 15, 2008, Lehman Brothers filed for bankruptcy causing the meltdown of the fourth-largest American investment bank that shocked the financial industry and caused major damage to the world’s economy. This paper examines the situation leading to the bankruptcy of Lehman Brothers and identifies the key publics in the financial crisis. In addition, this paper examines the communications and relationships Lehman Brothers had with its key publics during the crisis from the perspective of the Excellence theory. The facts and evidence of the case of Lehman Brothers’ bankruptcy that are presented in this paper are sourced from news releases, congressional hearing reports, examiner’s reports on Lehman Brothers’ bankruptcy filing, Lehman Brothers’ earning reports, conference calls, and press releases. Finally, this paper will provide recommendations on dealing with crises based on Excellence theory and the opinions of public relations practitioners. / text

Les images médicales sont utilisées afin de représenter l'anatomie. Le caractère non- linéaire d'imagerie médicale rendent leur analyse difficile. Dans cette thèse, nous nous intéressons à l'analyse d'images médicales du point de vue de la théorie statistique de l'apprentissage. Tout d'abord, nous examinons méthodes de régularisation. Dans cette direction, nous introduisons une nouvelle méthode de régularisation, la k-support regularized SVM. Cet algorithme étend la SVM régularisée `1 à une norme mixte de toutes les deux normes `1 et `2. Ensuite, nous nous intéressons un problème de comparaison des graphes. Les graphes sont une technique utilisée pour la représentation des données ayant une structure héritée. L'exploitation de ces données nécessite la capacité de comparer des graphes. Malgré le progrès dans le domaine des noyaux sur graphes, les noyaux sur graphes existants se concentrent à des graphes non-labellisés ou labellisés de façon discrète, tandis que la comparaison de graphes labellisés par des vecteurs continus, demeure un problème de recherche ouvert. Nous introduisons une nouvelle méthode, l'algorithme de Weisfeiler-Lehman pyramidal et quantifié afin d'aborder le problème de la comparaison des graphes labellisés par des vecteurs continus. Notre algorithme considère les statistiques de motifs sous arbre, basé sur l'algorithme Weisfeiler-Lehman ; il utilise une stratégie de quantification pyramidale pour déterminer un nombre logarithmique de labels discrets. Globalement, les graphes étant des objets mathématiques fondamentaux et les méthodes de régularisation étant utilisés pour contrôler des problèmes mal-posés, notre algorithmes pourraient appliqués sur un grand éventail d'applications. / Medical images have been used to depict the anatomy or function. Their high-dimensionality and their non-linearity nature makes their analysis a challenging problem. In this thesis, we address the medical image analysis from the viewpoint of statistical learning theory. First, we examine regularization methods for analyzing MRI data. In this direction, we introduce a novel regularization method, the k-support regularized Support Vector Machine. This algorithm extends the 1 regularized SVM to a mixed norm of both `1 and `2 norms. We evaluate our algorithm in a neuromuscular disease classification task. Second, we approach the problem of graph representation and comparison for analyzing medical images. Graphs are a technique to represent data with inherited structure. Despite the significant progress in graph kernels, existing graph kernels focus on either unlabeled or discretely labeled graphs, while efficient and expressive representation and comparison of graphs with continuous high-dimensional vector labels, remains an open research problem. We introduce a novel method, the pyramid quantized Weisfeiler-Lehman graph representation to tackle the graph comparison problem for continuous vector labeled graphs. Our algorithm considers statistics of subtree patterns based on the Weisfeiler-Lehman algorithm and uses a pyramid quantization strategy to determine a logarithmic number of discrete labelings. We evaluate our algorithm on two different tasks with real datasets. Overall, as graphs are fundamental mathematical objects and regularization methods are used to control ill-pose problems, both proposed algorithms are potentially applicable to a wide range of domains.

Greensburg High School has been and is highly regarded by the residents of Decatur County as shown by various newspaper reports, personal interviews, and school records. Its scholastic standards, its curriculum, its administrative personnel, and its student body unite in striving to build an institution that will raise the social and economic conditions of the community. There are but few residents who remember the early days of the school, but on their part there is a feeling of gratitude and appreciation for those early leaders of education in this community who had the foresight to see the importance of higher education and the strength to see that the school was instituted

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L'objectif de cette thèse est double : évaluer, mesurer et analyser les effets de contagion sur les banques américaines et européennes lors la crise financière globale de 2008-2009 et étudier les canaux financiers qui ont contribué à la propagation de la crise aux pays du G7. En suivant une approche microéconomique de la définition de la contagion, nous testons, premièrement, l'hypothèse d'un effet de « contagion » sur les marchés boursiers à l'aide de la méthode des études d'évènements. Nous qualifions ensuite la contagion de « contagion pure » ou de « contagion rationnelle ». Deuxièmement, nous testons l'hypothèse de « contagion » contre « interdépendance » sur le marché des dérivés de crédit avec les modèles de corrélations conditionnelles asymétriques dynamiques. En troisième lieu, nous cherchons à répondre à une question macroéconomique : quel choc joua le rôle majeur dans la transmission de la crise financière globale, celui dû à la pénurie de liquidité ou celui provoqué par la dévaluation des actifs financiers? Pour cela, nous analysons, à l'aide d'un modèle vectoriel autorégressif à paramètres qui varient dans le temps, l'effet de chaque choc, venu des États-Unis, sur les marchés monétaires et boursiers des pays du G7. Enfin, nous questionnons l'intérêt de la régulation Bâle 3 portant sur le capital des banques du point de vue des banques contaminées durant la crise financière globale. / The objective of this thesis is the twofold: to assess, measure and analyze contagion effects to American and European banks during the global financial crisis of 2008-2009 and to study the financial channels that contributed to the spread of the crisis to G7 countries. Following a microeconomic approach of the definition of contagion, firstly, we test the hypothesis of “contagion” on stock markets using the event study methodology. Then, we qualify it as “pure contagion” or “rational contagion”. Secondly, we test the hypothesis of “contagion” versus “interdependence” on credit derivative market using the asymmetric dynamic conditional correlations models. Thirdly, we aim to answer a macroeconomic issue: which shock played the major role in spreading the crisis from U.S. to money and stock markets of G7 countries, the shock due to liquidity shortage or the shock due to the devaluation of financial assets? We use a Time-Varying Parameters Vector-Auto Regression methodology. Finally, we provide insights into the impact of Basel III regulation of banks capital, by focusing on banks contaminated during the global financial crisis.

<p>Purpose of this Master thesis is to analyze, understand and evaluate current financial crisis from the leadership perspective. In order to achieve this aim we made literature analysis, conducted interviews, analyzed failure case of Lehman Brothers and case of NYSE Euronext Lisbon. Furthermore, we created a questionnaire which was sent to the biggest companies in Europe. According to our investigation, we found out that the most suitable methodological view for our research is a combination of analytical and system views. Analysis of our findings shows that financial crisis was highly caused of the failure of leadership in the financial sector. We found out that leaders have to be aware of these main problems: nowadays word is extremely interconnected and one variable can affect the whole system, huge short-term returns cannot marginalize long-term foresight, risk has to be measured and estimated, leaders has to pay a lot of attention to their strategies, plan, rethink and if it is necessary reshape them. Moreover, leaders now face more and more challenges: they have to react at the moment, to deal with world full of paradoxes and to take actions in order to increase level of confidence which creates more and more instability and chaos in the society.</p>

<p>This study examines whether the performance of the Black-Scholes model to price stock index options is influenced by the general conditions of the financial markets. For this purpose we calculated the theoretical values of 5814 options (3366 put option price observations and 2448 call option price observations) under the Black-Scholes assumptions. We compared these theoretical values with the real market prices in order to put the degree of deviations in two different time windows built around the bankruptcy of Lehman Brothers (September 15th 2008) to the test. We find clear evidences to state that the Black-Scholes model performed differently in the period after Lehman Brothers than in the period before; therefore we are able to blame this event for our findings.</p>

This study examines whether the performance of the Black-Scholes model to price stock index options is influenced by the general conditions of the financial markets. For this purpose we calculated the theoretical values of 5814 options (3366 put option price observations and 2448 call option price observations) under the Black-Scholes assumptions. We compared these theoretical values with the real market prices in order to put the degree of deviations in two different time windows built around the bankruptcy of Lehman Brothers (September 15th 2008) to the test. We find clear evidences to state that the Black-Scholes model performed differently in the period after Lehman Brothers than in the period before; therefore we are able to blame this event for our findings.

Purpose of this Master thesis is to analyze, understand and evaluate current financial crisis from the leadership perspective. In order to achieve this aim we made literature analysis, conducted interviews, analyzed failure case of Lehman Brothers and case of NYSE Euronext Lisbon. Furthermore, we created a questionnaire which was sent to the biggest companies in Europe. According to our investigation, we found out that the most suitable methodological view for our research is a combination of analytical and system views. Analysis of our findings shows that financial crisis was highly caused of the failure of leadership in the financial sector. We found out that leaders have to be aware of these main problems: nowadays word is extremely interconnected and one variable can affect the whole system, huge short-term returns cannot marginalize long-term foresight, risk has to be measured and estimated, leaders has to pay a lot of attention to their strategies, plan, rethink and if it is necessary reshape them. Moreover, leaders now face more and more challenges: they have to react at the moment, to deal with world full of paradoxes and to take actions in order to increase level of confidence which creates more and more instability and chaos in the society.

Intellectual disability is a prevalent developmental disorder for which no effective treatments are available. Mutations of the X-linked protein PHF6 cause the Börjeson-Forssman-Lehmann syndrome (BFLS) that is characterized by intellectual disability and epilepsy. However, the biological role of PHF6 relevant to BFLS pathogenesis has remained unknown. Here, I present my dissertation research demonstrating that knockdown of PHF6 profoundly impairs neuronal migration in the mouse cerebral cortex in vivo, leading to the formation of white matter heterotopias that harbor aberrant patterns of neuronal activity. Importantly, BFLS patient specific mutation of PHF6 blocks its ability to promote neuronal migration. I also elucidate the mechanism by which PHF6 drives neuronal migration in the cerebral cortex. PHF6 physically associates with the PAF1 transcription elongation complex, and inhibition of PAF1 phenocopies the PHF6 knockdown-induced migration phenotype in vivo. I further identify Neuroglycan C (NGC), a susceptibility gene for schizophrenia, as a critical downstream target of PHF6 and the PAF1 complex, and I demonstrate that NGC mediates PHF6-dependent neuronal migration. These findings define PHF6, the PAF1 transcription elongation complex, and NGC as components of a novel cell-intrinsic transcriptional pathway that orchestrates neuronal migration in the brain, with important implications for the pathogenesis of intellectual disability and potentially other neuropsychiatric disorders.