La diuisioapostolorum (« dispersion apostolique ») est un thème apocryphe qui traverse l’ensemble des lettres et des arts chrétiens de l’Antiquité et du Moyen Âge. Dans sa plus large acception, il désigne tout ce qui se rapporte au partage du monde entre les apôtres (réunion, tirage au sort), à son évangélisation (envoi et réalisation de la mission), à la fondation de sanctuaires ainsi qu’à la mort et au tombeau de ces prestigieuses figures, amiciDei. En se plaçant au niveau des représentations chrétiennes du temps et de l’espace, l’analyse de la documentation textuelle grecque et latine entre le Ier et le IXe siècle – en particulier des catalogues d’apôtres et de disciples – nous a permis de montrer que l’usage de ce thème par les lettrés témoigne à la fois de la diffusion universelle du projet chrétien de société et d’un processus double de spatialisation et de temporalisation du sacré, en ce qu’il promeut un certain nombre de loci en rapport avec la mémoire d’une communauté. Par l’établissement de parallèles entre les catalogues et d’autres genres de textes (acta, historia, gesta episcoporum), nous avons souligné que ce processus, du fait qu’il bénéficie d’abord à l’autorité dont dépend le locus valorisé, est potentiellement soutenu par elle : on a donc traité également la question de l’accaparement de l’identité civique par l’évêque. / Diuisioapostolorum (« Apostles’ dispersion ») is a recurrent apocryphal theme throughout ancient and medieval Christian humanities and arts. In the widest sense, it refers to everything concerning the division of the world between the Apostles (reunions, draws), the evangelization of the world (sending and mission), and the foundation of sanctuaries, as well as the death and tombs of these prestigious figures: amici Dei. With a focus on Christian representations of time and space, our analysis of 1st-9th Century Greek and Latin Textual documentation – in particular, lists of Apostles and disciples – has enabled us to show that the use of this theme is a testimony to both the universal dissemination of the Christian vision of society, and a dual process of spatialization and temporalization of the sacred, as it promotes a number of loci linked to the memory of a community. Paralleling the lists with other types of written works (acta, historia, gestaepiscoporum), we have highlighted the fact that this process, by benefiting in the first place the authority under which the locus is placed, was potentially supported by said authority. For this reason, we have also dealt with the question of the monopolizing of civil identity by the bishops.

Syftet med studien är att bidra till en ökad förståelse för hur fastighetsmäklare i Sverige kan arbeta för att bättre uppfylla köparens förväntningar vid bostadsvisningar och därmed öka sannolikheten till framtida samarbeten. I dagsläget är förtroendet för fastighetsmäklare lågt och yrket är förankrat med mycket fördomar, endast 6 % säger att de känner förtroende för fastighetsmäklare. Dock visar undersökning gjord av Mäklarsamfundet (2016) att kundnöjdheten bland säljare är hög där hela 87 % svarar att de varit nöjda med affären. Författarna har därmed konstaterat ett kunskapsgap där rollen som fastighetsmäklare inte undersökts ur en köpares perspektiv i syfte att förbättra servicekvalitén. Studien har en kvalitativ ansats med semi-strukturerade intervjuer där målet är att tydliggöra respondentens egna tankar och åsikter genom att kunna gå mer på djupet i respondentens svar och därmed uppnå en ökad förståelse kring hur fastighetsmäklaren uppfattas utifrån kundernas perspektiv, närmare bestämt ur en potentiell köpares perspektiv. Genom ett målstyrt urval väljs respondenter ut som inom senaste kvartalet varit på visning och haft en personlig kontakt med fastighetsmäklare. Insamlad data transkriberas och analyseras genom att bryta ned respondentens uttalande till nyckelord och citat för att framhäva en tydlig bild över vilka mönster samt nyckelfaktorer kunder anser viktiga kring rollen som fastighetsmäklare. Studien visar att samhällets fördomar gällande fastighetsmäklare i dagsläget sannolikt förstärks vid visningstillfällen snarare än motsatsen och köpares negativa syn för fastighetsmäklarens agerande under visningstillfällen är en bidragande anledning till varför förtroendet är lågt. Studien belyser också att potentiella köpare upplever fastighetsmäklare som passiva under visning och att fastighetsmäklare både kan och bör förbättra sitt kundbemötande för att motverka att spekulanter känner sig förbisedda och därmed öka sin omsättning genom ökade rekommendationer. / The aim of this study is to contribute to an increased understanding of how real estate agents in Sweden can work to better meet the buyers expectations on housing listings and thus increase the likelihood of future collaborations. At present, trust in real estate agents is low and the profession is rooted in a lot of prejudice, only 6 % say they feel trust in real estate agents. However, a survey conducted by Mäklarsamfundet (2016) shows that customer satisfaction among sellers is high, with 87 % responding to being satisfied with the deal. The authors have thus found a gap in which the role of real estate broker was not examined from a buyer's perspective in order to improve service quality. The study has a qualitative approach with semi-structured interviews where the aim is to clarify the respondent's own thoughts and opinions by being able to go deeper into the respondent's answers, thus gaining an understanding of how the real estate broker is perceived based on the customer's perspective, more specifically from a potential buyer's perspective. Through a goal-oriented selection, respondents are selected who were on a viewing in the last quarter and had personal contact with real estate agents. The collected data is transcribed and analyzed by breaking down the respondent's statement to keywords and quotes to highlight a clear picture of which patterns and key factors customers consider important about the role of real estate agent. The study shows that society's prejudices regarding real estate agents are currently likely to be strengthened at viewing times, rather than the opposite, and the buyers' negative view of the real estate agent's actions during viewing times is a contributing reason why trust is low. The study also highlights that potential buyers experience real estate agents as passive under viewing and that real estate agents can and should improve their customer relationship to counteract speculators feeling overlooked and thereby increase their turnover through increased recommendations.

Submitted by Victor Bourroul Holloway Ribeiro (victor.holloway@outlook.com) on 2015-05-05T18:42:08Z No. of bitstreams: 1 Dissertação-Victor_Ribeiro-20150505.pdf: 1568158 bytes, checksum: c8a977529cac8af2a9ac6d67176b4caa (MD5) / Rejected by Suzinei Teles Garcia Garcia (suzinei.garcia@fgv.br), reason: Boa tarde Victor Seu trabalho não condiz ao padrão. 1.FUNDAÇÃO GETULIO VARGAS 2.ESCOLA DE DIREITO DE SÃO PAULO Qualquer dúvida estou à disposição. Att. Suzi 3799-7876 on 2015-05-06T17:42:57Z (GMT) / Submitted by Victor Bourroul Holloway Ribeiro (victor.holloway@outlook.com) on 2015-05-06T19:20:09Z No. of bitstreams: 1 Dissertação-Victor_Ribeiro-20150505.pdf: 1569735 bytes, checksum: 5e0fd4561bd7139ce19ee3654a4c8a31 (MD5) / Approved for entry into archive by Suzinei Teles Garcia Garcia (suzinei.garcia@fgv.br) on 2015-05-06T19:36:17Z (GMT) No. of bitstreams: 1 Dissertação-Victor_Ribeiro-20150505.pdf: 1569735 bytes, checksum: 5e0fd4561bd7139ce19ee3654a4c8a31 (MD5) / Made available in DSpace on 2015-05-06T19:40:58Z (GMT). No. of bitstreams: 1 Dissertação-Victor_Ribeiro-20150505.pdf: 1569735 bytes, checksum: 5e0fd4561bd7139ce19ee3654a4c8a31 (MD5) Previous issue date: 2015-04-07 / The goal of this research is to analyze in a decentered regulation perspective the creation of Brazilian premium Corporate Governance segments. The goal of analyzing the creation of Brazilian premium Corporate Governance segments includes the description of the phenomenon by recognizing factors that led companies to change their behavior and the prescription of a normative argument formulated from the recognition of those factors. In the Corporate Governance literature, regulation is usually defined as a state-centered conception. Researches about premium Corporate Governance segments (Novo Mercado, Level 1 and Level 2) created by São Paulo Stock Exchange – Bovespa often adopt the state-centered definition of regulation. As opposed to a mandatory state regulation, these premium segments were classified as a private and self-regulatory phenomenon, conducted by the market. This analysis was followed by a normative argument that prescripts contractual or self-regulatory arrangements for policy makers with intention to promote specific Corporate Governance rules. However, the assumption of a state-centered regulation was contested by a decentered perspective. The decentered perspective argued that not only states are increasingly involved in complex collaborations and delegations with non-state actors to exercise regulation, but also non-states actors are regulating, setting standards, gathering information and enforcing rules. To handle those complex regulatory events, Julia Black formulated the concept of decentralized regulation, which was grounded on systems theory and the governance literature. Regulation in a decentering perspective is implemented by a network of interdependent state and non-state actors. Embracing Julia Black’s concept of decentralized regulation, the present research describes the creation of Brazilian premium Corporate Governance segments and formulates a normative argument deriving from the decentered perspective. Based on the results, the research concludes that the creation of Brazilian premium Corporate Governance segments did not involve just the parties of the Participation Agreement. Instead, it involved many interdependent state and non-state actors, which shared many mechanisms for the application of the regulation. Therefore, it is not possible to indicate the self-regulation and private legal instruments as the only factors that led companies and shareholders to alter their behavior and to adopt specific Corporate Governance rules. Accordingly, the normative argument that follows this analysis, rather than the prescription of self-regulation, is the prescription of the mobilization of the regulatory power fragmented among many state and non-state actors. / O presente trabalho tem como objetivo analisar pela perspectiva da regulação descentralizada a criação dos segmentos de listagem do mercado de valores mobiliários administrado pela Bovespa. O objetivo de analisar a criação dos segmentos de listagem inclui a descrição do fenômeno para apontar fatores que levaram as companhias e controladores a alterarem seus comportamentos e a construção de um argumento normativo formulado a partir do reconhecimento desses fatores. No debate sobre regulação da Governança Corporativa, o conceito de regulação normalmente assume uma definição centrada no Estado. Grande parte da análise da criação dos segmentos de listagem do mercado administrado pela Bovespa seguiu essa perspectiva. A criação dos segmentos de listagem, então, foi classificada como um fenômeno autorregulatório, privado e de mercado. Dessa análise seguiu a formulação de um argumento normativo, o qual prescreveu o uso da autorregulação a atores que visassem estabelecer regras específicas de Governança Corporativa. Contudo, a perspectiva da regulação descentralizada questionou o pressuposto da centralidade do Estado no conceito de regulação. A perspectiva da regulação descentralizada sustentou que não só atores estatais estão cada vez mais envolvidos com atores não estatais em complexas colaborações e delegações para o exercício da regulação, como também sustentou que atores não estatais exercem regulação, incluindo, a formulação, monitoramento e enforcement de regras. Para lidar com essa complexidade dos fenômenos empíricos regulatórios, Julia Black, baseando-se na teoria dos sistemas e na literatura de Governança, formulou o conceito de regulação descentralizada. Pelo conceito de regulação descentralizada, a regulação é exercida por uma rede de atores interdependentes, estatais e não estatais, que utilizam mecanismos legais e extralegais para o exercício do poder e do controle. Diante disso, adotando esse conceito de regulação descentralizada de Julia Black, o presente trabalho pretendeu descrever a criação dos segmentos de listagem e formular um argumento normativo baseado nessa descrição. Como resultado da pesquisa realizada, foi possível concluir que a criação dos segmentos de listagem não se restringiu às partes que celebraram o Contrato de Participação, mas envolveu diversos atores, estatais e não estatais, os quais tinham uma relação de interdependência entre si e compartilharam diversos mecanismos no exercício da regulação. Com isso, não se pode resumir os fatores que fizeram com que companhias e controladores alterassem seus comportamentos e adotassem algumas regras de Governança Corporativa à voluntariedade e ao aspecto autorregulatório. Desta análise segue que, se é possível apontar para um argumento normativo do caso da criação dos segmentos de listagem, o argumento normativo não é a prescrição da autorregulação, mas sim a prescrição do uso do poder regulatório fragmentado entre diversos atores, estatais e não estatais.

Corporate governance and executive remuneration are not new phenomena, but have erupted to the forefront of corporate, academic and public attention as a result of a series of well publicized corporate collapses and scandals over the last decade, which have raised both a curiosity of executive remuneration levels, and an awareness of the potential impact of conflicts of interest between owners and executives in modern corporations. Although literature on corporate governance and executive remuneration in general is plentiful, there is a lack of comment on the relationships between certain specific components of these two broad constructs. These specific components, such as disclosure, executive remuneration and governance needed to be analysed individually before they could be combined into a whole that explains both their interrelationships with each other and the larger corporate governance sub-system, and ultimately in the corporation, as an organisational system. In view of greater globalisation of the world economy, and the market for executive talent, the consequent reforms in the fields of corporate governance and executive remuneration, as well as the changing competitive dynamics of modern corporations, it was necessary to examine whether traditional theory and regulatory frameworks have kept pace with corporate development. A review of both classic and current literature show vastly different approaches to both executive remuneration and corporate governance mechanisms practiced around the world. There is however a noticeable trend towards convergence of these different sub-systems.The most prominent differences in respect of these sub-systems relate to the extent to which disclosures are made. Some of these issues relate to full or limited disclosure, internal or external corporate governance measures to regulate executive remuneration, and differences in respect of a narrow shareholder focus or broad stakeholder focus of different interests in an organisation. / Business Leadership / Ph.D. (Business Leadership)

O objetivo desse trabalho é analisar os efeitos do anúncio da dupla-listagem sobre o comportamento das ações no mercado doméstico das empresas que promoveram a listagem de ADRs. Os aspectos do comportamento analisados são os retornos anormais, os padrões de liquidez e volatilidade de preços. Foram analisados 22 programas de ADRs. Para cada uma das características analisadas foi utilizada uma diferente técnica empírica. A análise dos retornos anormais foi realizada através de um estudo de eventos para 5 diferentes janelas de estudos. A segunda técnica empírica utiliza-se do Índice de Negociabilidade, uma métrica desenvolvida pela Economática envolvendo o número de negócios diários e o volume diário transacionado da ação para medir potenciais alterações na liquidez das ações e, por fim, a terceira técnica utilizada utiliza a variância dos retornos como medida relevante de alteração de volatilidade dos mesmos. Embora com limitações, o estudo apresentou resultados em linha com parte da literatura de referência, demonstrando, excetuando-se pela janela de 5 dias pré e pós evento, que não é possível afirmar que os retornos das ações estudadas após o anúncio da emissão das ADRs são diferentes dos retornos apresentados pelas ações antes do anúncio. Com relação à análise de impacto sobre a liquidez das ações (INM 50d), foi possível rejeitar a hipótese de que o programa não causa impacto na liquidez com um nível de significância de 10% após comparar a liquidez das ações das empresas que emitiram ADRs com a liquidez das ações das empresas que compunham as carteiras dos grupos de controle. Finalmente, ao estudar a volatilidade das ações, foi possível observar que, para os testes-F realizados, das 22 ações testadas, 11 apresentaram resultados que permitem rejeitar a hipótese nula e, portanto, inferir que, para essas companhias, a variância dos retornos durante o período de 50 dias pós-evento foi diferente da variância dos retornos durante o período de 50 dias pré-evento dentro de um nível de significância de 5%. Para as outras 11 empresas testadas, não foi possível rejeitar a hipótese nula e, portanto, não foi possível concluir, para essas empresas, que o evento do anúncio da emissão de ADRs exerceu qualquer influência sobre a volatilidade dos retornos das ações subjacentes. Essa dissertação contribui para o entendimento mais aprofundado das consequências da emissão de ADRs. Tal processo, caro e demandante, expõe as companhias a diferentes níveis de regulação e exige um nível mais elevado de governança e, portanto, deve ser bem entendido por gestores, bancos e consultores. / The purpose of this paper is to analyze the effects of the cross-listing announcement on the behavior of the shares of Brazilian companies that enroll in ADR programs. The analyzed aspects of the domestic shares’ behavior are the abnormal returns, the liquidity levels and the volatility of the returns measured by their variance. 22 ADR programs were analyzed. For each of the characteristic studied, a different empirical technique was utilized. The abnormal returns analysis was conducted through an event study for 5 different study windows. The second empirical technique rely on the “Indice de Negociabilidade”, a metric developed by Economatica which involves the number of daily trades of the market and of the shares to measure potential changes in the liquidity levels of the shares. Finally, the third method used analyzes the variance of the returns of the domestic shares as relevant measure of volatility of returns. Although with limitations, the study presented results aligned with part of the reference studies and bibliography, demonstrating, except for the window of 5 days pre and post event, that it is not possible to assert that the returns of the shares analyzed after the announcement of the issuance of the ADRs are different from the returns presented by the shares before the announcement. With regard to the analysis of the impact on shares’ liquidity (INM 50d), it was possible to reject the hypothesis that the program does not impact liquidity with a significance level of 10% after comparing the liquidity of the shares of the companies that issued ADRs with the liquidity companies’ shares that composed the portfolios of the control groups. Finally, in studying volatility of the shares, it was possible to observe that for the F-tests performed, of the 22 shares tested, 11 presented results that allow the rejection of the null hypothesis and, therefore, infer that for these companies, the variance of returns during the 50-day period postevent was different from the variance of returns over the 50-day period previous to the event within a significance level of 5%. For the 11 other companies tested, it was not possible to reject the null hypothesis and therefore it was not possible to conclude, for these companies, that the event of the announcement of the issuance of ADRs had any influence on the volatility of the returns of the underlying shares. This dissertation contributes to a more in-depth understanding of the consequences of issuing ADRs. Such an expensive and demanding process exposes companies to different levels of regulation and requires a higher level of governance and therefore must be well understood by managers, banks and consultants.

O objetivo desse trabalho é analisar os efeitos do anúncio da dupla-listagem sobre o comportamento das ações no mercado doméstico das empresas que promoveram a listagem de ADRs. Os aspectos do comportamento analisados são os retornos anormais, os padrões de liquidez e volatilidade de preços. Foram analisados 22 programas de ADRs. Para cada uma das características analisadas foi utilizada uma diferente técnica empírica. A análise dos retornos anormais foi realizada através de um estudo de eventos para 5 diferentes janelas de estudos. A segunda técnica empírica utiliza-se do Índice de Negociabilidade, uma métrica desenvolvida pela Economática envolvendo o número de negócios diários e o volume diário transacionado da ação para medir potenciais alterações na liquidez das ações e, por fim, a terceira técnica utilizada utiliza a variância dos retornos como medida relevante de alteração de volatilidade dos mesmos. Embora com limitações, o estudo apresentou resultados em linha com parte da literatura de referência, demonstrando, excetuando-se pela janela de 5 dias pré e pós evento, que não é possível afirmar que os retornos das ações estudadas após o anúncio da emissão das ADRs são diferentes dos retornos apresentados pelas ações antes do anúncio. Com relação à análise de impacto sobre a liquidez das ações (INM 50d), foi possível rejeitar a hipótese de que o programa não causa impacto na liquidez com um nível de significância de 10% após comparar a liquidez das ações das empresas que emitiram ADRs com a liquidez das ações das empresas que compunham as carteiras dos grupos de controle. Finalmente, ao estudar a volatilidade das ações, foi possível observar que, para os testes-F realizados, das 22 ações testadas, 11 apresentaram resultados que permitem rejeitar a hipótese nula e, portanto, inferir que, para essas companhias, a variância dos retornos durante o período de 50 dias pós-evento foi diferente da variância dos retornos durante o período de 50 dias pré-evento dentro de um nível de significância de 5%. Para as outras 11 empresas testadas, não foi possível rejeitar a hipótese nula e, portanto, não foi possível concluir, para essas empresas, que o evento do anúncio da emissão de ADRs exerceu qualquer influência sobre a volatilidade dos retornos das ações subjacentes. Essa dissertação contribui para o entendimento mais aprofundado das consequências da emissão de ADRs. Tal processo, caro e demandante, expõe as companhias a diferentes níveis de regulação e exige um nível mais elevado de governança e, portanto, deve ser bem entendido por gestores, bancos e consultores. / The purpose of this paper is to analyze the effects of the cross-listing announcement on the behavior of the shares of Brazilian companies that enroll in ADR programs. The analyzed aspects of the domestic shares’ behavior are the abnormal returns, the liquidity levels and the volatility of the returns measured by their variance. 22 ADR programs were analyzed. For each of the characteristic studied, a different empirical technique was utilized. The abnormal returns analysis was conducted through an event study for 5 different study windows. The second empirical technique rely on the “Indice de Negociabilidade”, a metric developed by Economatica which involves the number of daily trades of the market and of the shares to measure potential changes in the liquidity levels of the shares. Finally, the third method used analyzes the variance of the returns of the domestic shares as relevant measure of volatility of returns. Although with limitations, the study presented results aligned with part of the reference studies and bibliography, demonstrating, except for the window of 5 days pre and post event, that it is not possible to assert that the returns of the shares analyzed after the announcement of the issuance of the ADRs are different from the returns presented by the shares before the announcement. With regard to the analysis of the impact on shares’ liquidity (INM 50d), it was possible to reject the hypothesis that the program does not impact liquidity with a significance level of 10% after comparing the liquidity of the shares of the companies that issued ADRs with the liquidity companies’ shares that composed the portfolios of the control groups. Finally, in studying volatility of the shares, it was possible to observe that for the F-tests performed, of the 22 shares tested, 11 presented results that allow the rejection of the null hypothesis and, therefore, infer that for these companies, the variance of returns during the 50-day period postevent was different from the variance of returns over the 50-day period previous to the event within a significance level of 5%. For the 11 other companies tested, it was not possible to reject the null hypothesis and therefore it was not possible to conclude, for these companies, that the event of the announcement of the issuance of ADRs had any influence on the volatility of the returns of the underlying shares. This dissertation contributes to a more in-depth understanding of the consequences of issuing ADRs. Such an expensive and demanding process exposes companies to different levels of regulation and requires a higher level of governance and therefore must be well understood by managers, banks and consultants.

A dupla listagem é uma estratégia que supostamente pode minimizar os efeitos de uma crise financeira internacional sobre as empresas. Este estudo buscou analisar se esta suposição é válida para companhias brasileiras, no contexto da crise de 2008. O problema de pesquisa que direcionou este estudo foi: A dupla listagem internacional fez com que os impactos da crise financeira de 2008 sobre determinados indicadores das empresas fossem compatíveis com os previstos na literatura e fossem diferentes daqueles sofridos pelas empresas domésticas? O objetivo foi analisar se a dupla listagem pode minimizar os efeitos gerados pela crise financeira de 2008 sobre determinados indicadores associados às empresas listadas. Os efeitos da crise de 2008 foram também comparados com os sofridos pelos papéis de empresas domésticas, sem dupla listagem. Os indicadores analisados foram: liquidez, volume, risco, retorno, custo de capital, alavancagem financeira, valor da empresa e concorrência. O teste de hipóteses foi utilizado para verificar se houve impacto significativo nas variáveis das empresas antes e após a crise financeira. Foram utilizadas para a amostra 37 empresas duplamente listadas (EDL) e 37 empresas domésticas (ED). Os resultados obtidos com o estudo sugerem que, durante uma crise financeira internacional, a maioria dos indicadores das EDL apresenta diferença significativa quando comparados os períodos pré e pós-crise. Os resultados das empresas domésticas foram semelhantes. Estes resultados estão em consonância com os apresentados nos estudos de Bailey, Chan e Chung (2000), Huang e Stoll (2001), Bin, Blenman e Chen (2004), mas contradizem os resultados de Huang e Stoll (2001). Em relação às diferenças entre os dois grupos de empresas Chandar, Patro e Yezegel (2009) afirmam que empresas com dupla listagem ficaram mais protegidas no período da crise; porém, Chira e Marciniak (2014) comprovaram que por serem duplamente listadas as empresas ficaram mais expostas durante as crises financeiras. As duas conclusões principais do estudo são que a crise afetou de forma semelhante os dois grupos de empresas e que, portanto, a dupla listagem não minimizou seus efeitos / The cross-listing is a strategy that supposedly can minimize the effects of an international financial crisis on businesses. This study sought to analyze if this supposition is valid for Brazilian companies, in the context of the crisis of 2008. The research problem that directed this study was: The international cross-listing has meant that the impact of the financial crisis of 2008 on certain indicators of the companies were compatible with the expected in the literature and were different from those experienced by domestic firms? The objective was to analyze if the cross-listing can minimize the effects generated by the 2008 financial crisis on certain indicators associated with listed companies. The effects of the 2008 crisis were also compared with those suffered by the papers of domestic companies, without cross-listing. The indicators analyzed were: liquidity, scale, risk and return, cost of capital, financial leverage, firm\'s value and competitors. The hypothesis testing was used to verify if there was significant impact on the variables of enterprises before and after the financial crisis. The hypothesis testing was used to verify if there was significant impact on the variables of enterprises before and after the financial crisis. They were used for the sample 37 cross-listed firms (CLF) and 37 domestic firms (DF). The results of the study suggest that, during an international financial crisis, most of the indicators of the CLF presents significant difference when compared to the periods before and after the crisis. The results of domestic companies were similar. These results are consistent with those presented in studies by Bailey, Chan and Chung (2000), Huang and Stoll (2001), Bin, Blenman and Chen (2004), but contradict the results by Huang and Stoll (2001). Regarding the differences between the two groups of companies Chandar, Patro and Yezegel (2009) state that companies with cross-listing were more protected in times of crisis; however, Chira and Marciniak (2014) confirmed that cross-listed companies were more exposed during the financial crisis. The two principal conclusions of the study are that the crisis affected in a similar manner both groups of companies and, therefore, the cross-listing did not minimize their effects

本研究主要探討借殼上市公司之財報品質是否與差異一般上市公司有明顯差異，分析中國借殼上市公司財務報表品質是否較其他公司差，並進一步驗證借殼上市規則修訂是否對公司之財報品質造成顯著影響。研究樣本以2005年至2015年在美國紐約證券交易所(NYSE)、全美證券交易所(AMEX)與那斯達克證券市場(NASDAQ) 159家借殼上市公司為研究對象，並以相同產業、相同公司規模配對159家一般上市公司。本研究以裁決性應計項目作為財報品質的代理變數，並將借殼上市公司拆分成中國借殼上市公司及非中國之借殼上市公司，再加入規範修訂因子，藉以衡量中國借殼上市公司於修訂借殼上市相關規範後財報品質提升幅度是否大於非中國之借殼上市公司。實證結果顯示借殼上市的財務報表品質明顯差於配對公司，且中國借殼上市公司的財務報表品質明顯劣於非中國之借殼上市公司。在加入借殼上市規則修訂因子後，借殼上市公司財報品質改善幅度明顯大於配對之一般上市公司；比較中國借殼上市公司、非中國之借殼上市公司及配對公司在借殼上市規則修訂前後本身財報品質變化，發現三類公司前後財務報表品質皆有顯著提升，然而在提升幅度上中國借殼上市公司與非中國之借殼上市公司並無顯著差異。 / Based on a study sample consisting of 159 reverse merger firms and their matching U.S. public companies (according to industry and firm size) listed in NYSE, AMEX, and NASDAQ from 2005 to 2015, we study the impacts of the 2011 listing-rule revision on the financial reporting quality of reverse merger firms in the US. More important, using discretionary accruals as the proxy of financial reporting quality, we ask if the financial reporting quality of Chinese reverse merger firms is worse than the non-Chinese reverse merger firms. Our empirical results show that the financial reporting quality of reverse merger firms is out-performed by their matching U.S. counterparts, and the financial reporting quality of Chinese reverse merger firms is, in general, inferior to the non-Chinese reverse merger firms. Post the 2011 listing-rule revision, we find that the financial reporting quality of reverse merger firms is better than their matching U.S. firms after controlling for the regulatory factor; in particular, we find that the China reverse merger firms, the non-Chinese reverse merger firms, and the matching U.S firms, all exhibit significant improvements in their financial reporting quality. However, this incremental gain in financial reporting quality seems indifferent between the China reverse merger firms and the non-Chinese reverse merger firms.

Cette thèse traite de l’étude du changement d’attitude dans un contexte de dissonance cognitive (Festinger, 1957), et plus précisément dans le cadre du paradigme de l’essai contre-attitudinal (Brehm & Cohen, 1962). L’objectif de ce travail est triple. Premièrement, nous opérons une remise en question de l’induction de choix des paradigmes de dissonance, en utilisant, au sein de nos expérimentations, la perception de choix des participants comme variable continue permettant de prédire le changement d’attitude. Notre second objectif est de mobiliser, dans le cadre de la dissonance, des variables issues du modèle des probabilités d’élaboration (Petty & Cacioppo, 1986) liées au changement d’attitude. Ces variables permettent notamment de recueillir les pensées positives et négatives (i.e., l’élaboration) que les participants produisent vis-à-vis d’un argumentaire. Nous émettons ainsi l’hypothèse que la rédaction d’un essai contre attitudinal sous perception élevée de choix entraînera conjointement de l’élaboration et du changement d’attitude chez les participants. Le dernier objectif de cette thèse est de tester l’impact de variables, autres que le choix perçu, permettant d’augmenter l’élaboration des participants. Nous nous sommes ainsi intéressés à la résistance de l’attitude initiale, ainsi qu’au délai de réflexion, afin d’étudier leurs effets sur le changement d’attitude. / This thesis covers the study of attitude change in the area of cognitive dissonance (Festinger, 1957), and more precisely in the context of the counter-attitudinal advocacy paradigm (Brehm & Cohen, 1962). The aim of this work is triple. First, we challenge the induction of choice adopted within dissonance paradigms using, in our studies, perception of choice as a discrete variable suitable to predict attitude change. Our second goal is to borrow - for a use into dissonance paradigms - variables implied in attitude change within the elaboration likelihood model (Petty & Cacioppo, 1986) than can be used in order to gather the positive and negative thoughts (i.e., elaboration) that participants can produce regarding to an advocacy. We thus hypothesize that a counter-attitudinal advocacy will, under high perceived-choice, lead participants to produce elaboration and attitude change. Our last goal is to assess the impact of other variables than perceived choice that can have an impact on participants’ elaboration. Therefore, we took interest in attitude resistance and reflection delays in order to observe their effect on attitude change.

The following pages are an attempt to examine the importance of the content in a job listing in relation to the prohibition of discrimination. Furthermore, to compare legislations of the private and public sector in Sweden. The effect The European Union and other international regulations have on the way Sweden regulate job listings will also be discussed. As there is a large number of factors affecting the content in a job listing, this paper will also examine the law-oriented contribution from the European Court of Justice and the Swedish Labour Court. The premise is that a Swedish employer within the private and public sector can hire whoever they want, however there are some restrictions. For instance, the prohibition on discrimination and affirmative action. Other subjects in this area that will be discussed are direct and indirect discrimination, specific requirements in a job listing, factual basis in the recruitment process, the principle of objectivity and the legality principle. The employer’s requirements for active measures will also be addressed.