Η αναβάθμιση του ρόλου του CFO (Chief Financial Officer) στην λήψη αποφάσεων από το Management των Επιχειρήσεων, οι κοσμογονικές αλλαγές στις Αγορές Χρήματος και Κεφαλαίου και η χρησιμοποίηση και από τις Ελληνικές Επιχειρήσεις εκτός από τις Παραδοσιακές μορφές και των Εναλλακτικών Χρηματοδοτικών Μηχανισμών, καταδεικνύουν την κεφαλαιώδη σημασία που έχει η Χρηματοδότηση στην Λειτουργία και την Ανάπτυξή τους, ιδίως τα τελευταία χρόνια. Η παρούσα Διπλωματική Εργασία, ασχολείται με την Χρηματοδότηση των Ελληνικών Εισηγμένων Επιχειρήσεων και την συμβολή της στην Αναπτυξιακή τους πορεία. Έγινε προσπάθεια να καλυφθούν πλήρως αφ' ενός μεν οι παραδοσιακές μορφές Χρηματοδότησης, όπως η Χρηματοδότηση με Ίδια Κεφάλαια, ο Τραπεζικός Δανεισμός, το Χρηματιστήριο και αφ ετέρου όλα τα Νέα προϊόντα Χρηματοδότησης, όπως το Leasing, το Factoring, το Forfaiting κ.ά. αλλά και τα νέα μορφώματα χρηματοπιστωτικών ιδρυμάτων όπως οι εταιρείες Venture Capital, ως Εργαλεία στην εξεύρεση κεφαλαίων για την χρηματοοικονομική εξυγίανση και Ανάπτυξη των επιχειρήσεων. Τέλος επιχειρήθηκε με την βοήθεια των αποτελεσμάτων Πρωτογενούς Έρευνας που πραγματοποιήθηκε, η παρουσίαση της Χρηματοδοτικής και Αναπτυξιακής Στρατηγικής των Εισηγμένων στο Χ.Α.Α την τελευταία δεκαετία, στην οποία πραγματοποιήθηκαν μεγάλες αλλαγές και οι Επιχειρήσεις επιδίωξαν να αναπτυχθούν αντιμετωπίζοντας τις νέες προκλήσεις της αγοράς. / --

Purpose This paper analyses the use of marketing metrics and marketing information and metrics contained in 2006/7 annual reports of companies listed on the Johannesburg Stock Exchange. The assumption is that the annual reports are the vehicle whereby listed companies communicate to their shareholders and other stakeholder constituencies. Methodology The assessment criteria is based on Ambler’s (2003) suggested marketing metrics and qualitative data is based on a checklist compiled from various academic sources. The elements which are assessed pertain to brand equity, other customer metrics, segmentation, competition, innovation and environmental and strategic aspects. The information obtained is compared to information required by investors and rating is done based on a grand total maturity. Findings Research results indicate that the use of quantitative metrics and qualitative data is very limited. The majority of companies display a lack of information pertaining to marketing. The results reflect a bi-modal tendency. Half (53%) of the companies do not provide any or poor information on their brand whereas 26% of companies supplied good and excellent information. The grand total score indicates that nearly two thirds (60%) of companies obtain a score of less than 50%, providing insufficient information. On the other hand, 27% of companies provide good and excellent information. Segmentation metrics are generally not reflected in annual reports, neither are competitors. Innovation and environmental aspects influencing market trends are covered by two thirds, however a third provides insufficient information. Other findings include that no standard reporting format exists. Information pertaining to marketing is spread throughout the annual reports. None of the companies provide a glossary of marketing definition or brand terminology. Research implications More in-depth research needs to be conducted on various industry sectors and amongst investors as to their needs. Originality/ value The paper is of value to corporate executives, marketing and communication practitioners who seek to improve communication and to convey optimal information for the investment community. The aim is to stimulate executive management to revise their relationship towards customers, the brand, marketing strategy and investors. / Graduate School of Business Leadership / MBL

La notion de monument historique – distincte de la notion de patrimoine – apparaît durant la Révolution française. La protection du patrimoine, dont les origines proviennent d’une réponse directe à la situation de crise révolutionnaire, s’organise lentement mais avec des principes forts pendant le XIXème siècle : un support associatif local très actif, une administration en gestation et un cadre théorique et légal en point de mire (la première loi de protection des monuments historiques étant votée en 1887). La recherche historique a toujours accordé une place importante au patrimoine, en particulier par le biais de l’histoire de l’art. En privilégiant l’entrée politique, un grand nombre d’historiens se sont penchés sur l’évolution des différentes branches du service des monuments historiques. D’autres ont effectué un remarquable travail épistémologique redéfinissant le concept de patrimoine, à l’orée de ses multiples ramifications, tout en répondant à cette pluralité en proposant une analyse pluridisciplinaire de la question. Notre étude s’inscrit dans ce constat d’un besoin de réintégrer la question patrimoniale à une analyse globalisante intégrant les objets, les discours et les acteurs en réifiant les objets patrimoniaux du discours qui les produit à travers le temps. L’objectif de cette étude est de comprendre comment le patrimoine, dans sa diversité, va être mis en valeur par les acteurs sociaux grâce à une analyse du discours qui le sous-tend. Nous suggérons que le patrimoine n’est pas plus intrumentalisé que les autres fabrications humaines. Le patrimoine est créé par des discours qui, à leur tour, créent de l’espace public. Donc le patrimoine est la rencontre de l’homme et de son environnement : thématique notamment développée par les spécialistes de l’environnement. / The designation of « monument historique » traces its roots to the French Revolution when the government appointed Alexandre Lenoir to specify and safeguard certain structures. The first classifications were given in the XIXth century by Prosper Mérimée, inspector-general of historical monuments with the support of local organizations and an administration (until the vote of 1887 law for the protection of the « monuments historiques »).This Specified Subject studies how and why ‘heritage’ became an omnipresent and defining feature of modern societies. When we examine the politics of heritage from a historical perspective, a complex picture emerges. The political, social, economic and cultural history of heritage illuminates the tensions between a longing for the past and the desire for progress, between regional and national identities. Our goal is to understand how and why heritage is enhanced by people – politics, social groups. We suggest that heritage isn’t exploited with speechs but it creates new kind of speechs with the help of social groups.

The purpose of this study was to investigate whether there is a positive relationship between environmental responsibility and financial performance of South African listed companies. For the purposes of this study annual financial statements for the periods ending from 1994 to 1998 were investigated. Only companies listed on the Johannesburg Stock Exchange (JSE) during the calendar years 1994 to 1998 were included. The investigation was not limited to certain sectors of the JSE in order to include all possible environmentally responsible companies. In the review of the related literature the theoretical foundation of environmental reporting was investigated based on fundamental accounting principles. The stakeholders interested in environmental reporting were identified and their influence on the environmental information presented in annual financial statements was examined. The costs or disadvantages versus the benefits or advantages of environmental responsibility were explored. The findings of previous studies that examined the relationship between environmental performance and financial performance were investigated. Environmental responsibility was defined, taking previous researchers' definitions into consideration. Pressures towards environmental responsibility that companies experience and progress made by companies were discussed. Previous studies were used to identify the most appropriate measures to use when measuring environmental responsibility. A control list and a judgement scale developed from previous research were selected for use in this study to determine environmentally responsible companies. Profitability, as a key component of financial performance, was defined. Elements of financial performance were discussed under the profit zone and causal factors. Financial performance measures most often used were identified from relevant literature. These measures were considered as well as measures used in previous research before selecting return on equity, return on assets, return on capital and economic value added for purposes of this study. Correlation analyses were performed for the following groups of companies for every year from 1994 to 1998: · Total qualifying population of companies; · total population excluding wild points regarding environmental reporting percentages; and · companies reporting on environmental matters during four to five years of the period examined. The financial performance measures ROE, ROA and ROC were individually correlated with the environmental reporting percentages for all the companies, regardless of the JSE sector of the companies. The correlation of EVA with the environmental reporting percentages was limited to industrial companies. Analyses per sector were performed by way of the following trend analyses for every year from 1994 to 1998: · Environmental responsibility per sector; · average financial performance for environmentally responsible companies in comparison to average financial performance for companies without a environmental responsibility measure per sector; and · data plots. There is a positive relationship between the environmental responsibility and the financial performance of South African listed companies; i.e. the higher the environmental responsibility of a company is, the higher is the financial performance of that company. However, it is important to note that this conclusion is based on the results in total and that causality could not be addressed. There are still many sectors with no or very little evidence of environmental responsibility. / Dissertation (DComm(Accounting Sciences))--University of Pretoria, 2002. / Accounting / unrestricted

Chapter 1 Summary of the Dissertation "We are in the golden age of fraud." Jim Chanos, Kynikos Associates, Financial Times 24/07/2020. Beyond the speculations about the consecutive waves of Covid, 2020 will be reminded for one of the most notorious failures of a listed firm, due to a massive accounting fraud: the German payment fintech Wirecard. The firm, with 30 subsidiaries in 26 countries, joined the prestigious DAX index just two years before. The spillovers of the billion-euro fraud range from the arrest of top managers to suspicion of auditors, politicians, and regulatory authorities (BaFin, European Commission, and ESMA), as suggested the Financial Times headline "Why was Frankfurt so blind for so long?"1 Such a failure serves as a reminder of the relevance of financial markets regulation, oversight, and enforcement, in order to protect investors and to encourage compliance with regulations. Research on the relationship between the publication of financial misconducts and financial performance for corporates has continuously grown, as illustrated by the recent in- depth literature reviews undergone by Amiram et al. (2018) and Liu and Yawson (2020). It is fueling regulatory debates on how to enforce more efficiently financial regulations. Some specificities of white-collar crimes must be accounted for...

It is widely held that CEOs are central to the successful financial performance of companies. Yet, little attention has been given to the correlation between CEO tenure and financial performance of companies specifically. The purpose of this study was to determine whether CEO tenure has an impact on financial performance of companies in South Africa. The financial performance variables for the study were ROA and ROE. The performance of 30 JSE listed companies from three industries, namely, mining, retail and real estate, between 1995 to 2007 was examined. This gave a total of 62 data observations across the selected three tenure categories: short tenure (one to three years); medium tenure (four to five years); and long tenure (six or more years). The results showed that the average tenure for South African CEOs was four years; this was slightly lower than the findings of previous studies conducted in the USA. Medium and long tenure showed better financial performance for ROA than short tenure, while there was no statistically significant finding for ROE. Therefore from an ROA point of view, as tenure increases so does financial performance, until a certain point at which it is anticipated that lengthy tenure will lead to a decline in financial performance. / Dissertation (MBA)--University of Pretoria, 2010. / Gordon Institute of Business Science (GIBS) / unrestricted

Corporate governance can play a significant role in financial market stability and economic development. Corporate governance scholars have provided controversial results with respect to the relationships between corporate governance and both corporate financial performance and market value. Based on agency theory and institutional theory, the purpose of this correlational study was to investigate the relationship between corporate governance mechanisms, financial performance, and market value in Kingdom of Saudi Arabia's 116 firms from 2010 to 2014. Financial performance was measured by return on assets and return on equity, while market value was measured by Tobin's q. Corporate governance mechanisms involved in this study were board size, board independence, board committees, ownership structure, and executive compensation. The financial statements and corporate governance mechanisms collected from the websites of sampled firms and the Saudi stock market (Tadawul). The findings of multiple regression tests revealed a statistically significant relationship between corporate governance mechanisms and both corporate financial performance and market value. This study may contribute to social change by building confidence in the Saudi capital market and improving the lives of stakeholders and community in general. The results may help business leaders understand the influence of corporate governance on their firms' success and the country's growth. Academic researchers, investors, regulatory bodies, practitioners, and experts in the area of corporate governance may benefit as well.

Main topic of this thesis is revitalization of parish house complex in Batelov in difficult situation after restitution of church property. Housing for elderly people is proposed as an economically viable use of complex. Form of newly designed building respects surrounding rural environment, value of nearby listed building of parish house and also needs of its future residents.

The main objective of this thesis is to investigate corporate governance practices in South Africa listed companies. Specifically, the thesis strives to achieve the following objectives. First, it investigates the extent of compliance with the best corporate governance practices as recommended by the King Committee on Corporate Governance prior to and post 2002 in order to understand whether there is improvement in corporate practices. Second the thesis investigates whether compliance with the best corporate governance practices are related to ethnicity of board structures (in particular Board Chairman, Board Dominance and Chief Executive Officer/Managing Director) and other factors such as company characteristics, market and performance related variables. Third it investigates the views/opinions of key stakeholders [e.g. regulators, King Code Commissioners, companies and institutional investors] regarding the state of corporate governance in SA and its influence in the Southern African Development Community (SADC) region. The findings from regression results indicate that compliance with the King Code increased substantially between 2002 and 2008. The results also indicate that compliance is high for accounting and auditing and boards and directors issues and lowest for integrated sustainability reporting issues. The findings also indicate that ethnicity influences corporate compliance with best practice governance principles such as the King Code, as per prediction. Compliance was also found to be high for large firms, firms with multiple listings in other stock exchanges and firms audited by Big 4 audit firms. Finally, the findings from the views of key stakeholders indicate that the Code has indeed improved corporate governance standards in South Africa, is suitable for the country because of its consideration of local circumstances and influences corporate practice in the SADC region.

There have been previous studies aimed at finding out what factors influence whether a company's shares are trading at a premium or at a discount to its net asset value. Several studies have examined all or large parts of the market but have not at an early stage focused on niche markets. Many papers have also been based on data from other countries such as the UK, France, the Netherlands, Australia, and the US and have been executed under completely different macroeconomic conditions than those prevailing in Sweden in 2022. This study aims to investigate which factors can explain premium and discounts in relation to net asset value in Swedish real estate companies, listed on the OMX Stockholm Real Estate GI index. The study is based on 12 real estate companies listed on OMX Stockholm Real Estate GI. For a company to be relevant, it must have been listed on the index continuously since 2011. The data cover the period 2011-2021 and the results are based on three models: An OLS regression model, a fixed effect model, and a random effect model. Overall, the results of the study show that the company's size, leverage ratio, and investors' sentiment of the market correlate positively with the net asset value discount. At the same time, there is a negative correlation between the net asset discount and the stock volatility as well as return on equity. The results also showed that the industrial real estate sector correlated negatively to net asset discounts in some of the models used. The liquidity variable as well as the office and retail sectors had no statistically significant impact on net asset value discounts in real estate companies. / Det har gjorts tidigare studier som syftat till att ta reda på vilka faktorer som påverkar om ett företags aktier handlas till ett premium eller med rabatt gentemot sitt substansvärde. Flertalet studier har undersökt hela – eller stora delar av marknaden men inte i ett tidigt skede fokuserat på nischade marknader. Många av dessa undersökningar har också varit baserade på data från andra länder som Storbritannien, Frankrike, Nederländerna, Australien och USA och har gjorts under helt andra makroekonomiska förhållanden än vad som råder i Sverige 2022. Denna studie syftar till att undersöka vilka faktorer som kan förklara premium och substansrabatter i förhållande till substansvärde i svenska fastighetsbolag, noterade på fastighetsindexet OMX Stockholm Real Estate GI.Studien är baserad på 12 fastighetsbolag noterade på OMX Stockholm Real Estate GI. För att vara en del av datamaterialet måste företaget varit noterat på indexet kontinuerligt sedan 2011. Data omfattar perioden 2011–2021 och resultaten baseras på tre modeller; en OLS regressionsmodell, en fixed effect - samt en random effect modell. Övergripande visar resultaten i studien på att företagets storlek, skuldsättningsgrad, och investerares uppfattning om marknaden korrelerar positivt med substansrabatten. Samtidigt finns det en negativ korrelation mellan substansrabatten och volatiliteten hos en aktie, samt avkastning på eget kapital. Resultatet visade även att sektorn industrifastigheter korrelerade negativt mot substansrabatter i vissa av modellerna som användes. Likviditetsvariabeln samt sektorerna kontor och handel hade ingen statistisk signifikant påverkan på substansrabatter i fastighetsbolag.