The growing technique of near infrared spectroscopy is used to build fundamental knowledge of how the method might be applied for moisture determination in pulp and paper media. Filter paper was used to investigate the angle and distance dependence, otherwise obscured by the uneven surface of pulp or dry fibers. For contact measurements both filter paper and CTMP-fibers were used. The angle and distance evaluation is based on visual spectral interpretation to later incorporate preprocessing methods of the data followed by a multivariate analysis using PLS. With the knowledge built before the experimental startup, the acquired spectra are known to have many co-linearities and hence, for the purpose of determining the moisture content abundant information which might enable the reduction of data points for evaluation. The distance and angle experiments gave results indicating that the intensity of the reflected light change the information gathered and must be accounted for in calibration. Turning the measuring probe 30 degrees or more at 5 mm distance reduced the effect of high intensity specular reflection. Temperature displayed differences in the spectra, cold samples giving less response than warm samples although no clear correlation was found. Multivariate analysis of the contact measurement samples gave most accurate result after multiple signal correction preprocessing. Distance measurements on fiber rendered models with high RMSEC values and gave no reasonable base for prediction.

finanční analýza, Vítkovice, horizontální analýza, vertikální analýza, poměrová analýza, rentabilita, likvidita, aktivita, zadluženost, analýza pracovního kapitálu, analýza cash flow, pyramidový rozklad, Du Pont analýza, ekonomický normál, altmanova analýza, index IN, EVA, MVA

The theme of the thesis is a verifying framework for balanced scorecard or multi ¡V dimensional managerial indicators . The verifying framework consists of seven major modules , TETRAD , and LISREL . The seven major modules are mission-strategy-module,factor-analysis-module , dimension-indicator-module,principle-component- analysis-module,canonical-correlation-module, game-theory-module,and performance-vector-model. The verifying framework takes advantage of knowledge or tools of vector analysis, multivariate statistical analysis , game theory , fuzzy sets , and multiobjective decision making . The thesis hopes to offer a preciser quantitative verifying framework for balanced scorecard or multi-dimensional managerial indicators .

The thesis is devided into two parts - the theoretical and the practical. In the theoretical one the methods of economic analyses and their application is described. In the practical the corporation is rated and evaluated while using these tools.

製鞋業一向被認為是勞力密集度最高的產業。一雙運動鞋的製造過程至少要經過五百雙手，勞動力的需求量大，技術的層次又不如科技產業那麼高。如何維持企業的競爭力，是經營者必須面對的難題。本文探討製鞋產業的整體表現，並且分析兩家不同的公司的財務表現與經營策略是否有任何關係。

<p><strong>Bakgrund: </strong>Bonussystem är något som började växa fram under 1980-talet och är ett inte sällan förekommande debattämne. Inte minst i dagens situation med en stark recession och en finansiell kris om knuten. Flertalet artiklar har tagit upp ämnet, där man har ifrågasatt olika företags utdelning utav enorma rörliga ersättningar trots den svåra tid vi nu befinner oss i. Företagen motiverar olika andledningar till varför de väljer att betala ut bonusar till sina vd:ar, som grundar sig på olika typer av variabler.</p><p><strong></strong></p><p><strong>Syfte: </strong>Uppsatsens syfte är att undersöka vilken typ av variabler som visar starkast korrelation med storleken på företagsledarnas bonusar, och att se om dessa kan tänkas påverka deras risktagande.</p><p><strong></strong></p><p><strong>Metod: </strong>Uppsatsen bygger på en kvantitativ undersökning av sekundärdata som har inhämtats från de utvalda företagens årsredovisningar. Undersökningen tar en deduktiv ansats, där de valda teorierna appliceras på de resultat som undersökningen visar.</p><p><strong></strong></p><p><strong>Resultat: </strong>De fem företagen som betalar ut högst total ersättning är ABB, Ericsson, AstraZeneca, Getinge och Scania. Storleken på den totala ersättningen varierar relavtivt kraftigt mellan de i topp och de som befinner sig i botten – mellan 44,7 MSEK och 0,5 MSEK. Utifrån de tester som gjordes i SPSS framgick det att ”MVA” och ”Total ersättning” hade starkast korrelation.<strong></strong></p><p><strong></strong></p><p><strong>Slutsatser: </strong>I flertalet årsredovisningar framgår det tydligt att företagen betalar ut rörlig ersättning för att kunna rekrytera och behålla tillräckligt kompetent personal. De ska sedan uppfylla vissa prestationskriterier för att denna belöning skall betalas ut, vilket är ett bevis på att det alltså är prestationen som är grundande vid bestämmelser över storlek på den rörliga ersättningen. Oftast framgår det sällan specifikt vilka dessa prestationskriterier är. Detta kan man säga bekräftar de resultat som denna studie har kommit fram till. Det bör dock inte fastställas att det är just ”MVA”, som är den variabel, som företagen faktiskt grundar den rörliga ersättningen på.</p> / <p><strong>Background: </strong>Bonus systems became more frequently used during the 1980s and have since then, been a very much disputed subject, especially with today's situation with a great financial crisis. A number of articles have discussed this subject about companies paying their CEOs large sums despite of the hard financial situation. Different reasons are presented for how a company bases the incentive pay to the CEO, which is dependent on different types of variables.</p><p><strong>Purpose: </strong>To study which type of variable that shows the strongest correlation with CEO incentive pay, and to study if any of them affect the CEO endangerment. </p><p><strong>Method: </strong>The study takes a quantitative approach and methodology, where secondary data has been collected through studies of the companies' annual reports. This research approaches the problem deductively by applying the selected theories on the outcome of the study.  </p><p><strong>Results: </strong>ABB, Ericsson, AstraZeneca, Getinge and Scania are the five companies that have paid the largest salary to their CEOs during 2008. The salary size is very variable between the companies and ranges between SEK 44,7 Millions and SEK 0,5 Million. A number of tests have been run in the statistical data program, SPSS, and the results showed that the strongest correlation was between "MVA" and "CEO salary".<strong></strong></p><p><strong>Conclusions: </strong>Most of the companies' Annual reports show that compensation is paid in order to recruit and to keep the most competent personnel. There are a number of criterions based on performance that must be fulfilled for the compensation to be paid, which however are not specified in the Annual reports. This confirms the results given in this study. However, no final conclusions should be drawn about "MVA, being the actual variable that the incentive pay is based upon.</p>

Bakgrund: Bonussystem är något som började växa fram under 1980-talet och är ett inte sällan förekommande debattämne. Inte minst i dagens situation med en stark recession och en finansiell kris om knuten. Flertalet artiklar har tagit upp ämnet, där man har ifrågasatt olika företags utdelning utav enorma rörliga ersättningar trots den svåra tid vi nu befinner oss i. Företagen motiverar olika andledningar till varför de väljer att betala ut bonusar till sina vd:ar, som grundar sig på olika typer av variabler. Syfte: Uppsatsens syfte är att undersöka vilken typ av variabler som visar starkast korrelation med storleken på företagsledarnas bonusar, och att se om dessa kan tänkas påverka deras risktagande. Metod: Uppsatsen bygger på en kvantitativ undersökning av sekundärdata som har inhämtats från de utvalda företagens årsredovisningar. Undersökningen tar en deduktiv ansats, där de valda teorierna appliceras på de resultat som undersökningen visar. Resultat: De fem företagen som betalar ut högst total ersättning är ABB, Ericsson, AstraZeneca, Getinge och Scania. Storleken på den totala ersättningen varierar relavtivt kraftigt mellan de i topp och de som befinner sig i botten – mellan 44,7 MSEK och 0,5 MSEK. Utifrån de tester som gjordes i SPSS framgick det att ”MVA” och ”Total ersättning” hade starkast korrelation. Slutsatser: I flertalet årsredovisningar framgår det tydligt att företagen betalar ut rörlig ersättning för att kunna rekrytera och behålla tillräckligt kompetent personal. De ska sedan uppfylla vissa prestationskriterier för att denna belöning skall betalas ut, vilket är ett bevis på att det alltså är prestationen som är grundande vid bestämmelser över storlek på den rörliga ersättningen. Oftast framgår det sällan specifikt vilka dessa prestationskriterier är. Detta kan man säga bekräftar de resultat som denna studie har kommit fram till. Det bör dock inte fastställas att det är just ”MVA”, som är den variabel, som företagen faktiskt grundar den rörliga ersättningen på. / Background: Bonus systems became more frequently used during the 1980s and have since then, been a very much disputed subject, especially with today's situation with a great financial crisis. A number of articles have discussed this subject about companies paying their CEOs large sums despite of the hard financial situation. Different reasons are presented for how a company bases the incentive pay to the CEO, which is dependent on different types of variables. Purpose: To study which type of variable that shows the strongest correlation with CEO incentive pay, and to study if any of them affect the CEO endangerment.  Method: The study takes a quantitative approach and methodology, where secondary data has been collected through studies of the companies' annual reports. This research approaches the problem deductively by applying the selected theories on the outcome of the study.   Results: ABB, Ericsson, AstraZeneca, Getinge and Scania are the five companies that have paid the largest salary to their CEOs during 2008. The salary size is very variable between the companies and ranges between SEK 44,7 Millions and SEK 0,5 Million. A number of tests have been run in the statistical data program, SPSS, and the results showed that the strongest correlation was between "MVA" and "CEO salary". Conclusions: Most of the companies' Annual reports show that compensation is paid in order to recruit and to keep the most competent personnel. There are a number of criterions based on performance that must be fulfilled for the compensation to be paid, which however are not specified in the Annual reports. This confirms the results given in this study. However, no final conclusions should be drawn about "MVA, being the actual variable that the incentive pay is based upon.

Nowadays, an enterprise is facing more and more pressure, which leads to its concentration on creation or keeping the shareholder value. However, the disadvantage of traditional financial statements makes an enterprise unable to communicate in a effective way to let investors fully understand the real value of an enterprise. The purposes of reducing the distortion of GAAP accounting system, converting the accounting value into economic value, and becoming the investors¡¦ evaluation index are the attentions of this article in the study based on the EVA¡]Economics Value Added¡^foundation. This research is attempting to understand the real economic status hidden under the volatility of an enterprise value. Making the related research on evaluating the MVA on external managing effects, judging the company value according to current EVA (which is so-called COV ) and predicting the FGV with the growth of a company, is to find out the factors forming the trace of volatility itself. The actual evidence tells that the electronics categorized stocks are in the status of positive relation instead of negative relation. It just shows the transition from PC to communication network, the eventual phenomena of pricking the bubbles of net work in the field of electronic industry, the transfer of overall market trend, and the market performance of losing the favors of investors in non-electronics industry. As for FGV and MVA, it shows the positive relation between different categorized stocks, and it also outstands the situation of inflation and deflation in Taiwan stock market. In the analysis of the research mentioned above, we identify the value volatility traces of an enterprise. As for the key factor which effects the volatility, this research is attempting to explain the key influence on the value volatility of COV, FGV and MVA from the view points on the aspects of macroeconomic, industry information, market static data. The outcome of actual evidence also reveals that explaining capability on COV, FGV, and MVA from the views on macroeconomic aspect can truly reflect the situation of the volatility, and can be very helpful to realize the change trend of an enterprise.

Cervical cancer is one of the most common forms of cancer in the world, and human papillomavirus (HPV) is a cause of the vast majority of these patient cases. With many HPV types being oncogenic in nature, HPV as a whole is responsible for over 5% of all cancers worldwide and 15% of cancer in women in developing countries. HPV is a sexually transmitted infection that is spread through contact with infected genital skin, mucosa, or bodily fluids from a partner with acute or subclinical viral infection. While less frequent, various strains of the virus are also responsible for anal and vaginal warts, anal cancer, and cancer of the vulva and penis – these account for approximately 50,000 cases per year worldwide. Data also suggest a potential implication of HPV in oropharyngeal cancers, especially among younger adults. Various behavioral and prophylactic approaches are recommended for the prevention of HPV infection and cancer. For example, there is evidence that behavioral change can be effective, such as condom use and limitation on the number of sexual partners. Besides this, in recent years we have seen the development of various prophylactic or therapeutic vaccines that are highly effective in the prevention of HPV pathogenesis. Despite this, barriers to treatment and prevention exist, making HPV a continuing threat to individuals most at-risk across the globe. Thus, this study reviewed a large collection of current HPV and related cancer literature to understand the process of infection and pathogenesis in various human sites as well as potential barriers to prevention and treatment that may be perpetuating the survival of the virus across the world. Analyzing current and past research on such barriers, this paper delves into important variables that can affect early detection and treatment of HPV, and also explores a novel and promising therapy currently in development that could be valuable in overcoming many of these issues.

Existem fortes evidências de que a importância dos intangíveis tem crescido. Na medida em que a importância dos intangíveis aumenta, torna-se crítico gerenciá-los para que o valor da empresa seja maximizado. A gestão dos intangíveis depende da valoração adequada desses ativos. O conceito de EVA e MVA, de Stewart III, parece ser apropriado para avaliar os intangíveis. Um importante componente do modelo do EVA é o custo de capital, ou custo médio ponderado de capital (WACC), utilizado para (1) remunerar o capital tangível e (2) descontar os EVA's a valor presente. No modelo de Stewart, o taxa de desconto parece ser igual nas duas situações. Entretanto, existem razões para crer que as taxas devam ser diferentes. Evidências teóricas e empíricas sugerem que (1) o risco dos intangíveis é maior que dos tangíveis e (2) os ativos intangíveis tendem a ser financiados por recursos próprios. Se essas suposições forem verdadeiras, o custo de capital dos intangíveis deveria ser maior que dos tangíveis. Essa tese examina empresas brasileiras e norte-americanas para responder a seguinte questão: Quais as diferenças de estrutura de capital e de risco entre as empresas tangível e intangível-intensivas? Os resultados da pesquisa mostram que a estrutura de capital parece ser o fator mais importante na diferenciação entre os dois tipos de empresas. / There are strong evidences that the importance of intangible assets are growing. As the importance of intangibles increases, it is critical to manage them in order to accomplish the most important financial goal: the maximization of wealth. Properly management of intangibles depends on its accurate valuation. Stewart’s EVA and MVA seems to be one of the appropriate techniques to value intangibles. An important component in the EVA model is the cost of capital, or the weighted average cost of capital (WACC), which is applied (1) to charge the tangible capital and (2) to discount the projected EVA's. In Stewart's model the rates seems to be equal. However, there are reasons to believe that these rates must be different. Theoretical and empirical evidences suggest that (1) the risk of intangibles are greater than the tangibles assets and (2) intangibles assets tend to be equity financed. If these assumptions are true, then the cost of capital of intangibles should be greater than the cost of tangibles. This thesis examines Brazilian and American companies in order to answer the following question: What are the differences between intangible and tangible-intensive companies regarding to their capital structure and risk? Results show that capital structure seems to be the most important factor in discriminating these two kind of companies.