Cette thèse a pour objectif l’étude du management et de la performance de l’entreprise familiale par rapport à l’entreprise non-familiale en Chine continentale, en utilisant la littérature académique la plus récente et une investigation par approche quantitative. Sur la base de données collectées en 2007 et 2008 d’indicateurs financiers de plus que 1000 sociétés cotées à Shanghai et Shenzhen, cette thèse comparera les performances entre les entreprises familiales et non-familiales en Chine. / The academic research about family businesses has spread out for years, and lately in broader field and more in-depth discussion. In China, the research about family businesses is not only relied on anecdotal observation and theoretical explanation, but also more and more empirical investigation and rational choice models were utilized in recent years. This paper compares the performance of family businesses (FBs) with non-family businesses (NFBs) in China for listed companies in Shanghai and Shenzhen Stock Exchanges. In addition, the paper finds better performance of FBs compared to NFBS, and among the former better performance of strong-controlled FBs compared to weak-controlled FBs in China.

The key topic of enclosed Diploma thesis is the project that was running at the higher level of the elementary school in Prague. The Project itself is supplied by the theoretical part, including description of pedagogic procedures used in the real life, history and finally includes the list of Malá Strana heritage sights used in my project. The final attachment includes my short project summary as well. The main objective of this Thesis is to support realization of art lectures at the elementary school. Diploma thesis doesn{\crq}t feel obligation to cover all issues connected with defined topic, but shows a direction, how to use our historical heritage for lectures at the elementary schools and hope will finally boost public attention in this matter too.

The main aim of this research is to investigate if large multinational firms publicly listed in the European Union avoid more taxation than less international firms. Furthermore, the composition of the board of directors in terms of independence is considered as a potential moderating influence. I perform Pooled OLS regressions on a 2008-2016 sample of 5,118 firm-year observations, incorporating 669 firms from 21 countries. The results show a negative influence of the level of internationalization on tax avoidance, and this relation is found to be weakened by board independence.

When considering the valuation techniques of income-producing property, various types of information should be obtained from the market in order to apply them to the valuation of the property under consideration. This includes the comparison with other properties sold in the market. However, due to the illiquid nature of property, especially those typically owned by institutional investors, such transactions do not take place every day. Therefore the necessary information is not always readily available, and also not of the required quality. In order to try and eliminate this problem, the study considers the possibility of using alternative information to indicate market activities. Various studies have considered the similarities of direct real estate and indirect real estate. Most of these studies compare the investment returns of the two markets. This study extends the research by specifically looking at the unique property loan stock structure of South Africa, and comparing the value of shares to the value of assets. It therefore offers a more comprehensive explanation of the factors over and above the return received on the investment. It furthermore considers the composition of the property portfolio and the possibility to measure individual property values within such a portfolio. The outcome of the study is a model that allows property valuation and market interpretation from fundamental principles, with supporting evidence from the listed-property investment market. / Thesis (PhD)--University of Pretoria, 2013. / gm2013 / Construction Economics / unrestricted

M.Com. (Financial Management) / In 1995, the South African government needed to address the widening poverty gap. The manner in which they would do so was through the process of financial market liberalisation of the JSE. The intention behind the process of financial liberalisation on the JSE was to increase the liquidity of the JSE. The significance of this study is that it would provide regulators of financial markets, policy makers and academics information on the effectiveness of the liberalisation of the JSE on dual listed companies’ ability to grow in a sustainable manner. Previous literature has found the risk sharing benefit associated with financial market liberalisation. With the increased number of participants in market would increase the chance of successful trades. Previous studies have found that there is a positive correlation with financial market liberalisation and market liquidity. Exchange controls have been put in place to prevent capital flight in sudden economic down turns. Certain studies have found that financial market liberalisation on has had minimal impact on the market capitalisation This study investigates the effects the financial liberalisation on the JSE had on dual listed companies’ sustainable growth rates. A purposive sampling technique was used in this study and a sample of 28 dual listed companies was selected. The approach to this study was an explanatory approach and the research paradigm was archival. The statistical tools which were utilised in the study were broken into two components, namely, the descriptive statistics and the inferential statistics. The data that were used in the study were secondary data collected from I-Net Bridge. The results of this study indicated that the financial liberalisation of the JSE did have an impact on the sustainable growth rates of dual listed companies on the JSE. Recommendations were made in this study for the dual listed companies to improve their net profit margins. The methods in which the dual listed companies are able to improve their net profit margins are by finding competitive sustainable advantages. It was further recommended that the Income Tax Act No. 58 of 1962 needs to be amended to create a conducive economic environment for the dual listed companies to grow sustainably. It was further recommended that the dual listed companies on the JSE invest in human capital in order to improve their sustainable growth rate.

Depuis les scandales financiers notamment d’Enron, Worldcom, Vivendi et Parmalat, la transparence est au cœur de tous les débats dès que la situation l'exige. Ainsi, tout le monde appelle à la transparence. Cette invocation est partagée par des politiciens, des avocats, des économistes, des financiers et l'opinion publique. Ainsi transparence souhaité par tous et qui correspond à la quantité d'informations diffusées par les entreprises, est devenu l'instrument privilégié de la régulation des marchés financiers. De nombreux pays occidentaux ont adopté des lois pour garantir la sécurité des marchés et des investisseurs. En France, il existe des lois comme la loi sur les Nouvelles Régulations Economiques (NRE) de 2001, la loi sur La Sécurité Financière (LSF) de 2003 et la loi Breton de 2005. Au niveau européen, il existe aussi des lois et les plus importantes sont la Directive Transparence de 2013, sur l'harmonisation des obligations de transparence concernant à l'information sur les émetteurs dont les valeurs mobilières sont admises à la négociation sur un marché réglementé, Directive concernant les Marchés d’Instruments Financiers (MiFID) 2014, la directive Abus de Marché (MAD) de 2014 et European Market Infrastructure Regulation (EMIR) de 2012. Cependant au sein des sociétés, on assiste à une instrumentalisation de l’information, orchestrant des « guerres » entre dirigeants et actionnaires. La transparence est ainsi détournée de son rôle premier pour satisfaire les intérêts égoïstes de ces personnes. Grâce à une manipulation de l’information dont il est dépositaire, le dirigeant peut mettre en place des stratégies dans le but de conserver son fauteuil. Les actionnaires dépositaires du contrôle de la société, peuvent opérer un contrôle purement économique, et n’agiront pas dans l’intérêt de la société mais dans leur intérêt patrimonial, en fonction d’une stratégie de création de valeur et d’investissement préalablement arrêtée. / Since financial scandals including Enron, Worldcom, Vivendi and Parmalat, transparency is at the heart of all discussions as soon as the situation requires. Thus, everyone calls for transparency. This invocation is shared by politicians, lawyers, economists, financiers and public opinion. Thus the transparency desired by all and which corresponds to the amount of information published by companies, became the privileged instrument of regulation of financial markets. Many Western countries have adopted laws to guarantee the safety of the markets and investors. In France, there are laws such as Act New Regulations Economic (NRE) of 2001, the Law on Security Finance (LSF) of 2003 and 2005 Breton law. A European level, there are also laws and the most important are the 2013 Transparency Directive, on harmonization of the transparency requirements for information about issuers whose securities are admitted to trading on a regulated market, Directive concerning the markets in Financial Instruments (MiFID) of 2014, Market Abuse Directive Abuse (MAD) of 2014 and 2012 European Market Infrastructure Regulation (EMIR). However within societies, there is a manipulation of information, orchestrating “wars” between officers and shareholders. Transparency is thus diverted from its role as first to satisfy the selfish interest of these persons. Through the manipulation of information which he is the depositary, the leader can implement policies ti keep his chair. The custodians of the control of the company shareholders, can operate a purely economic control, and will not act in the interest of society but in their heritage interest, based on a previously stopped creating value and investment strategy.

Bakgrund: På global nivå har det vuxit fram en debatt avseende hållbar utveckling. Företag började aktivt arbeta för att främja denna utveckling, vilket gjorde att hållbarhetsredovisning som frivillig rapportering kom att utvecklas Syfte: Studien syftar till att undersöka varför noterade fastighetsbolag hållbarhetsredovisar, hur innehållet i deras hållbarhetsredovisningar ser ut samt vilka incitament de har för att upprätta hållbarhetsredovisningar. Vidare syftar den till att jämföra dessa incitament med dem för bolag i andra branscher som studerats. Den syftar även till att utröna hur bolagen ställer sig till lagstiftning om hållbarhetsredovisning fr.o.m. 2017. Slutligen syftar den till att utröna huruvida bolagen idag använder sig av frivilliga redovisningsnormer, särskilt GRI:s riktlinjer för hållbarhetsredovisning. Metod: Uppsatsen bygger på kvalitativ metod och baseras dels på studier av bolagens hållbarhetsredovisningar för 2015, dels en enkät till elva fastighetsbolag, noterade på Nasdaq Stockholm OMX. Enkäten besvarades av sju av bolagen och innefattade huvudsakligen frågor om vilka incitament bolagen har för att avge hållbarhetsredovisningar, samt deras inställning till den kommande lagstiftningen. Resultat: Sex av sju respondenter har angivit att efterfrågan från ägare, samt bidrag till långsiktig lönsamhet utgör viktiga incitament för hållbarhetsredovisning. Dessa incitament angavs också i studierna av livsmedelsbranschen, telekombranschen samt klädbranschen. Fastighetsbranschen särskiljer sig dock från de tre andra branscherna genom att fyra av sju bolag uppger ansvarstagande för samhälle och miljö som incitament, vilket också återspeglades i hållbarhetsredovisningarna. Nio av elva bolag hållbarhetsredovisar enligt GRI:s riktlinjer, då de är de mest vedertagna inom branschen. Synen på den kommande lagstiftningen avseende hållbarhetsredovisningen, som fyra bolag gav är att den ligger i tiden samt sätter fokus på hållbarhetsfrågan ur ett affärsmässigt perspektiv. / Background: At the global level, a debate on sustainable development has emerged. Companies started to actively promote this trend, which enabled the development of voluntary sustainability reporting. Aim: The study aims to examine why listed real estate companies publish sustainability reports, what information is included in these reports and what incentives the companies have to issue sustainability reports. Furthermore, it aims to compare these incentives with those of companies in certain other industries. It also aims to determine the companies´ positions on the legislation concerning sustainability reports, coming into effect in 2017. Finally, it aims to establish whether the companies currently use voluntary reporting standards, particularly the GRI guidelines for sustainability reporting. Method: The thesis uses a qualitative method and is based on studies of each company's sustainability report for 2015 and a questionnaire sent to eleven real estate companies listed on Nasdaq OMX Stockholm. The questionnaire was answered by seven of the eleven companies and included questions concerning what incentives companies have to issue sustainability reports, as well as their attitude towards the future legislation. Results: The two incentives for establishing sustainability reports that were stated by most, six of the seven, of the respondents, were the demand from owners and the contribution to long-term profitability. These incentives were also reported regarding companies in the food industry, the telecommunications industry and the clothing industry. The real estate companies are distinguished from the other three industries due to the fact that four of the seven respondents named society and the environment as incentives. Ten of the eleven companies published sustainability reports that declared what actions the company had taken in order to build a sustainable society. All eleven companies published sustainability reports that declared what actions that had been taken in order to decrease the companies’ environmental effects. Nine of the eleven companies publish sustainability reports following the directions outlined in GRI guidelines. The companies use these guidelines, as they are the most recognized in the industry. Four of the eleven companies gave their views on the upcoming Swedish act regarding sustainability reports. Their view is that the act reflects the global discussions and that it shows that sustainability issues are important from a business perspective.

Submitted by Renata Lopes (renatasil82@gmail.com) on 2015-12-14T14:09:00Z No. of bitstreams: 1 josielialmeidadeoliveiraleite.pdf: 1742992 bytes, checksum: 0bf83bdb156f280b22d5d1a2629ce393 (MD5) / Approved for entry into archive by Adriana Oliveira (adriana.oliveira@ufjf.edu.br) on 2015-12-14T15:51:41Z (GMT) No. of bitstreams: 1 josielialmeidadeoliveiraleite.pdf: 1742992 bytes, checksum: 0bf83bdb156f280b22d5d1a2629ce393 (MD5) / Made available in DSpace on 2015-12-14T15:51:41Z (GMT). No. of bitstreams: 1 josielialmeidadeoliveiraleite.pdf: 1742992 bytes, checksum: 0bf83bdb156f280b22d5d1a2629ce393 (MD5) Previous issue date: 2015-03-30 / CAPES - Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / Este trabalho, vinculado à linha de pesquisa Linguagem Conhecimento e Formação de Professores do Programa de Pós-graduação da Universidade Federal de Juiz de Fora (UFJF), Minas Gerais, investiga quais gêneros discursivos estão presentes no cotidiano de uma turma de educação infantil e de que maneira tais gêneros entram nesse cotidiano: propostos pelo professor, pelos projetos desenvolvidos na escola, pela família pelas crianças. Analisa, ainda de que maneiras as experiências com tais textos reverberam nos enunciados produzidos pelas crianças. Esta pesquisa está fundamentada na psicologia histórico-cultural de Vigotski, que entende o sujeito como um ser histórico e social, cuja relação com o outro e com o mundo dá-se, primordialmente, pela linguagem. Nesse sentido, a criança é vista em sua historicidade e contexto social, compreendida como sujeito que já é, e não como um vir a ser, inserida em uma sociedade e produtora desta. A maneira particular pela qual essa criança participa desse meio é significada pela filosofia da linguagem de Bakhtin, que concebe a língua como dialógica, viva e integrante da vida. Por isso, nosso foco se dá nos gêneros discursivos presentes na vida de uma turma de segundo período da educação infantil e nas relações que estabelecem com esses gêneros. Mais do que por suas propriedades formais, os gêneros discursivos são aqui compreendidos em relação às situações sociais que lhes originam. Como caminho metodológico para esta investigação, optamos pela pesquisa do tipo etnográfico, que busca, a partir da inserção em campo e observação participativa, a produção de dados. Os dados demonstram que a criança produz conhecimentos, questiona, imagina e não faz apenas aquilo que é autorizada pelos adultos. Em suas relações com os gêneros discursivos, tais características se evidenciam. As crianças levantam hipóteses, estabelecem relações, produzem gêneros e os modificam de acordo com as situações de interação que vivenciam, demonstrando conhecimento das esferas de circulação dos gêneros e seus objetivos comunicativos. Numa perspectiva ética e dialógica de pesquisa, foi possível vivenciar o protagonismo das crianças no decorrer deste trabalho, a partir da produção com as crianças de um novo gênero discursivo, fruto da situação social de pesquisa, que se incorporou ao cotidiano da turma: o diário de campo. / This work, linked to the line of research Language Knowledge and Training of Teachers of Federal University of Postgraduate Program of Juiz de Fora (UFJF), Minas Gerais, which investigates genres are present in the daily life of a preschool class and How such genres come in daily life: proposed by the teacher, the projects developed in school, the family by children. It also analyzes the ways in which the experiences with such reverberate texts in the utterances produced by children. This research is based on the historical-cultural psychology of Vygotsky, who understands the subject as a historical and social, whose relationship with one another and with the world takes place primarily through language. In this sense, the child is seen in its historical and social context, understood as subject it already is, and not as a becoming, inserted in a society and producer of this. The particular way in which the child participates in this medium is meant by the philosophy of Bakhtin language, which sees language as dialogic, alive and integral life. Therefore, our focus is given to us genres present in the lives of a group of second period of early childhood education and the relationships they establish with these genres. More than by their formal properties, the genres are here understood in relation to social situations that cause them. As a methodological way for this research, we chose the ethnographic research, which seeks, by entering the field and participant observation, the production data. The data demonstrate that the child produces knowledge, questions, imagine and does only what is authorized by adults. In its relations with genres such characteristics are evident. Children pose hypotheses, establish relationships, produce genres and vary according to the situations of interaction that experience, demonstrating knowledge of the movement of spheres of genres and their communicative goals. An ethical and dialogical perspective of research, it was possible to experience the role of children in the course of this work, from the production to the children of a new discourse genre, fruit of the social situation of research, which was incorporated into the class routine: daily field.

Since 2007, several studies have been conducted by international and national role players to establish whether the recent efforts to improve financial reporting have been successful. The respondents to the surveys used as part of these studies have indicated that more concise and less complex financial reports would be more understandable to users of financial reports. In view of the call for shorter and simpler financial reports, the fact that the understandability of financial reports appears to be a problem, as well as the fact that a limited amount of research on the understandability of interim financial reports has been done thus far, it was decided to investigate whether individual shareholders understand the context and content of interim financial reports which, per se, are supposed to be more concise and less complex financial reports presented by companies. The study entailed using a postal questionnaire in a survey of a sample of individual shareholders of three large South African listed retail companies to determine whether individual shareholders understand the context and content of interim financial reports, and whether they use these reports, among other sources, to make investment decisions. The study is based loosely on the high profile studies of Lee and Tweedie in respect of individual shareholders performed in the late 1970s. The primary research objective of the current study was to determine whether individual shareholders of South African listed retail companies understand the context and content of interim financial reports. It was found that understanding of these reports was generally limited. However, there is evidence that experience and training in the field of financial accounting improve shareholders’ understanding of the content of interim financial reports. Apart from questions on the demographics and investment objectives of individual shareholders, a number of other questions were also included in the questionnaire to address several secondary research objectives. The questions relating to the secondary research objectives were designed to gather information, inter alia, on how individual shareholders make investment decisions, sources of information used by individual shareholders when making investment decisions, additional information that should be included in interim financial reports, as well as the medium of communication through which individual shareholders would prefer to receive interim financial reports. The study has shown, amongst other things, that the majority of respondents to this study initiated their own investment decisions, that articles in the financial press are the most popular source of information when making investment decisions, and that individual shareholders still prefer to receive interim reports by post. / Thesis (DCom)--University of Pretoria, 2013. / gm2014 / Accounting / Unrestricted

77 Abstract Obligatory representation of women on corporate boards The main topic of this master thesis deals with obligatory women representation on boards of stock listed companies from the theoretical point of view with focus on European and Czech legislation. Women are under-represented in this area for a long time, which not only violates the basic human rights principle regarding gender equality, but also does not use the available human resources and thus wastes talent. The second chapter first describes the development of EU law in relation to positive measures that can justify a higher participation of women in the bodies of business corporations in relation to the principle of non-discrimination, mentioning the most important case law of the ECJ. Than is also mentioned the possibility of positive measures in Czech legislation. The second chapter also mentions the economic aspects of women's representation on boards in the sense that the presence of women can influence the body and thus the whole corporation. The third chapter describes the means by which women's participation in corporate bodies can be increased, what goals can be achieved and what sanctions can be imposed in case of non-compliance with the set goals. The arguments for and against the introduction of legal quotas are also...