民國90年代初期，我國參照美、日私募之規定，正式引進私募制度。此後，企業得以選擇公開現金增資，或透過私募發行新股，來募集所需的營運資金。根據統計，民國94年以後，台灣的私募市場日趨成熟，私募逐漸成為企業最重要的籌資管道之一，特別是讓原先不能符合公開募集資格之公司，合法迅速取得資金。雖然私募之平均發行金額仍小於公開現金增資，但近年來私募件數平均都有超越公開現金增資之表現，顯示私募在資本募集市場的重要角色，也肯定其對於企業和經濟發展之正面功效。 過去文獻指出，美國之私募平均以折價發行，且有顯著正的宣告股價效果。針對不同樣本之特性，Wruck（1989）、Hertzel and Smith（1993）和Barclay, Holderness and Sheehan（2007）分別提出監督假說（monitoring hypothesis）、資訊不對稱假說（information asymmetry hypothesis）和自利假說（entrenchment hypothesis）解釋之。雖然我國之私募制度多參照美國而訂定，但法律架構和私募流程仍有相當程度的差異。因此，本研究將以上述三大假說為基礎，藉由樣本敘述統計和線性迴歸分析，探討我國上市上櫃公司私募之定價與宣告股價效果。 我們自公開資訊觀測站收集民國91年至98年7月底之私募股權樣本，扣除變數資料不全者，最後共有398筆，包含上市公司174筆，上櫃公司224筆。研究發現，我國私募多以折價發行。其中，特別股之折價幅度低於普通股，電子科技類普通股之折價幅度又高於普通股之平均。而且，根據迴歸結果，私募金額、私募比率和公司規模三個變數最能解釋我國私募之折溢價幅度，但並沒有傾向支持任一個私募假說。 至於宣告股價效果，我國私募董事會和股東會皆不顯著為正，且宣告股價效果的迴歸解釋力也偏低，只有股價淨值較具顯著性。探究其原因，可能是因為我國私募制度不同所致。依證交法之規定，私募股權需先經由董事會和股東會同意後，始得募集。然而，最後私募成功與否常與市況和發行公司能否找到適當投資人等密切相關。既然兩事件日都不能保證私募可以如期完成，我們也就無法預期投資人會對私募有明確迅速的反應。 / In the beginning of 2000, Taiwan’s Securities Transaction Law was amended to introduce the new way of financing- private placements. Since then public corporations are allowed to issue new securities either by public offerings and private placements. According to statistics, after 2005 private placements have become one of the most important funding sources for corporations, especially for those who are disqualified for public offerings. Although the average proceed of private placements is still relatively small, the number of private placements has already surpassed that of public offerings in recent years. This manifests the important role of private placements in building a sound financial market. Private placements in the U.S., despite selling at discounts, are associated with significant positive abnormal returns on the announcement date. With different sample characteristics, Wruck (1989), Hertzel and Smith (1993) and Barclay, Holderness and Sheehan (2007) suggest monitoring hypothesis, information asymmetry hypothesis and entrenchment hypothesis respectively. Our study is based with these three most accepted hypotheses and aims to give an insight in Taiwan’s private placement of equities for public corporations. I search the Market Observation Post System for all private placements from 2002 to July of 2009, and obtain a sample of 398 private equities with complete data. Empirical evidence shows that Taiwan’s private equities are selling at discounts as well and “proceeds of private equity”, “placement fraction” and “corporate size” are the three significant explanatory variables for discounts. However, all the results seem not to fully support any hypothesis as mentioned above. On the other hand, the announcement stock price effects on the board and shareholders’ meeting are insignificantly positive in Taiwan. The regressions on the announcement stock price returns also indicate low explanatory power with only “Tobin’s Q” variable being significant overall. This may be attributed to the legislation differences between U.S. and Taiwan. According to Taiwan’s Securities Transaction Law, private equities should be first approved by the board and shareholders’ meeting, but might not be a successful private equity placement due to market condition, lack of proper investors and others. As a result, we can’t expect investors would instantly, correctly respond to this resolution information on those announcement dates.

This thesis defines the time impact of precepting medical students on rural general practitioners and explains how and why they commit the time to precept. To answer this question, original research was undertaken within the context of the innovative community-based medical education program, the Parallel Rural Community Curriculum (PRCC), using the parallel consulting model. Chapters One to Three detail the context of this study, appraise the existing evidence in the literature, and establish the rigour of the study design. In line with the constructivist theoretical perspective presented by the author, a case study methodology was chosen for this study. The thesis is constructed in two parts. Results from a prospective cohort study of GPs� videotaped consulting, with and without students, are described in Chapters Four and Five. No increase in consultation time or non-consulting time was found when precepting medical students. GPs� activities changed, suggesting they adapted their behaviour when students were present. An interpretive study, using a grounded theory approach, was used to explain the �how� and �why� of the research question. Interview data from GP preceptors, practice managers and students was used to construct a transferable explanatory theory as it emerged from the data. These results are presented in Chapters Six and Seven. The majority of GPs considered precepting more time consuming than consulting alone. This finding was not consistent with the videotaped data. GPs consistently experienced time pressure in their roles due to constant intrusion of competing priorities. This increased when precepting students. Frequent descision making by GPs as a response to their drive to remain on time was found to be a significant contributing factor to the changes found in consultation activities. Although many types of professional enrichment were identified by GP preceptors as adding value to precepting, the doctor-student relationship was clearly defined as the most important motivator for precepting in this study. The case study analysis explains how and why this occurred, and documents the maturation of the doctor-student repationship over time in the year long PRCC attachments. Through a grounded theory analysis of the data, four precepting consultation models emerged: student observer, teacher-healer, doctor orchestrator and doctor advisor. In Chapter Eight, the study defines these models in the context of legitimate peripheral participation of a novice member of the rural GP community of practice. The corroborative evidence from the literature suggests that these models may be applicable to other settings, particularly other community-based medical education sites.

The statistics shows low quantity of custody transfer while it shows a high number of children in long-term foster care placement in Sweden. This qualitative study examines how social services work with custody transfer and the challenges that comes with it. Questions under study were; Which factors makes social services initiate a custody transfer? What argument stands for and against custody transfer after three years? Which dilemmas and difficulties are related to a custody transfer?   The aim of the study was to study what obstacles and possibilities a custody transfer contains according to social workers, and to try to understand the social workers process in working with custody transfer. The group under study consisted of five social workers with a variety of experience within the field. The material from the interviews was analysed by two steps using a phenomenological method. The result shows that many actors can make application of custody transfer difficult. The perspective of the placed children seemed to have a low value when deciding about the children’s staying and what’s best for them. Furthermore, the informants described social services today as in constant change, the staff has less experience and the guidelines is deficient. In accordance with earlier research, the result indicate however that custody transfer means many advantages for the children in foster care. Based on research and theoretical perspectives along with the findings of this study, the discussion is about the importance of children attachment, stability and participation in decisions about their own lives. Further, social services experiences of children worry and other emotions in foster care when custody transfer is discussed. There were also various dilemmas and difficulties according to the informants when assessments of custody transfer were made.

Social work can be perceived as a global profession, built upon a certain foundation of global values and ethical principles - like human rights, social justice, equity and empowerment - that are applicable everywhere regardless of context. In contrast, it can also be perceived as a locally based profession that needs to take local-specific conditions – such as culture and indigenous traditions – into account. Regardless, it is a profession that exists all over the world, due to globalization having spread both social issues and profession itself across national borders. From a postcolonial perspective, contemporary international social work is equivalent to a new form of imperialism, i.e. that what started out as a western profession has now spread its values and methods to non-western contexts where they are not as well suited. This puts the profession in an almost paradoxical situation, as social work’s aim is to help socially vulnerable people improve their living situations and inspire them to self-actualization and empowerment, but by advocating this in the non-western world, western social work imposes ideas and methods onto contexts where they do not occur naturally. This brings a dilemma for social work regarding how to deal with global issues. One option is to acknowledge social workers’ role as ‘helpers’ and strive to help people regardless of context, using existing methods and values. Another option is to acknowledge the West’s historic role as imperialists trying to take over the world, and thus let the third World solve their own issues without further involvement in order to avoid contemporary colonialism. By interviewing Swedish social work students - whom all have completed educational field placements in non-western countries - this study strives to analyse how social work students that have experienced social work in non-western contexts relate to international social work and issues that come with it. This includes theoretical understanding, the role of social work education and their own roles as future professionals. The results show that the students found it frustrating to simultaneously want to help out and not be perceived as imperialistic. The conclusion was that the most important contributions western social workers can make in non-western contexts is to be aware of historical events and the contemporary part they play in global power structures, as well as try to humbly adapt to foreign cultures and accept differences rather than assume your own culture as automatically normative.

Magister Public Health - MPH / Interprofessional Education (IPE) for the undergraduate health sciences students has been seen as a vehicle that could prepare health professionals for improved collaboration in health care (Reeves, 2000). Early health curricula did not allow interaction among students of different disciplines. As a result students were equipped to only function in their own disciplines for their own professional purposes (Beatty, 1986). The Faculty of Community and Health Sciences (CHS), at the University of the Western Cape (UWC), introduced IPE in 1994 and established an Interdisciplinary Teaching and Learning unit (ITLU) to coordinate the interdisciplinary structured modules for undergraduate community and health sciences students. This research is an additional qualitative inquiry which is part of a bigger IPE study. The main aim of the bigger study, coordinated by the Collaboration for Health Equity in Education and Research (CHEER), is to investigate the impact of Collaborative Interprofessional Education and Practice on the development of socially responsible graduates who are well equipped to practice in rural and disadvantaged areas. This researcher aimed to explore the insights and attitudes of the current third and fourth year undergraduate community and health sciences students who are involved in the IPE programme regarding their appreciation of the other students‟ profession and their attitude to future interprofessional collaboration. Students were asked about their experiences in the IPE programme focusing on their initial experience, interaction in interprofessional groups and insights, and attitudes to being involved in the programme. Based on their experiences, they were also asked to provide recommendations for the programme. An exploratory qualitative study was conducted using focus group discussions and semi-structured interviews. Six focus group discussions were held with 3rd and 4th year students from occupational therapy, psychology, social work, physiotherapy and nursing at UWC to explore in-depth students‟ insights and attitudes towards the IPE programme. Two additional interviews were conducted with students individually. Six semi-structured interviews were conducted to obtain background information from key informants (Unit coordinator, Course convenor, two field coordinators and two lecturers) involved in the IPE programme at the UWC. The data collected were then transcribed and analysed by thematic content analysis. The findings revealed that the UWC IPE programme is very useful and important and can be potentially beneficial in health professional training especially in fostering collaboration. The results show both positive and negative attitudes by students at their initial encounter with the programme and a shift to a positive attitude and greater insight as students became more involved in the programme. The positive attitude is linked to an appreciation of their own and other professions‟ roles; recognition of the importance of a collaborative role in the health care setting and the relevance of the programme (content, practical work) to their work. The negative attitudes emanate from uncertainties and structural challenges within the programme (timing, lecturing process, etc). There are also challenges linked to course organisation which are important to improving the programme and have a potential to influence the attitudes of students.

Syftet med denna undersökning har varit att se vad förvaltningsrätten grundar sina avslag gällande avslutad LVU vård på när det avser bristande omsorg. Intresset uppkom genom den samhälleliga diskussionen kring LVU där jag uppfattat att det finns två läger – Säkrare kontroller vid en hemflytt, och att barn blir placerade enligt LVU på allt för lättvindiga grunder. Anledningen till att det blev just den bristande omsorgsförmågan som ska ligga till grund för placeringen, var att bristande omsorg kan ha olika kännetecken och därför även vara mer diffust att utreda.   För att ta reda på hur rätten resonerar har jag gjort en tematisk analys av förvaltningsrättsdomar som mitt empiriska material. Efter att jag kodat mitt material blev det snabbt tydligt att det fanns främst två orsaker till att rätten avslog vårdnadshavarnas önskan om avslutad vård. Det ena var att de förhållanden som föranlett vården inte hade förändrats, det andra var att föräldrarna saknade insikt.  I min analys valde jag att använda mig av anknytningsteorin samt ett socialkonstruktionistiskt perspektiv. Utifrån dessa teoretiska ramar kunde jag se att anknytning till barnet var något rätten fäste stor vikt vid. Vidare kunde jag identifiera att rätten resonerade olika och la tonvikten på olika aspekter beroende på om det var en mamma, pappa eller båda som ville att vården skulle avslutas.  Den här undersökningen är relevant för socialt arbete då det kan bidra till en ökad förståelse för vad rätten lägger vikt på vid en bedömning av om vård är nödvändig eller inte. Detta skulle kunna underlätta för socialtjänsten att upprätta en handlingsplan till vårdnadshavarna, för att på ett effektivt sätt hjälpa dem att få hem sina barn igen.  Trots att de nordiska länderna till stor del har ett liknande tillvägagångssätt när det kommer till barnavårdsutredningar, finns även en del skillnader som skulle kunna ha stor betydelse för individen. Detta har fått mig att reflektera kring huruvida Sveriges system är det mest rättssäkra eller inte. / The purpose of this research has been to see on what the administrative court bases its refusals regarding the terminated out-of-home placements when kids have been maltreated by their guardian or guardians. The interest was triggered by the wider societal discussion about out-of-home placements, from which I was able to identify two predominant groups. One group believed a more thorough investigation was required prior to end placements, and the other believed that social service placed children in out-of-home care on too easy grounds. The reason I decided to focus my study on children that has been maltreated by their guardians is that it could include a verity of characteristics and could therefore be difficult to investigate.  To find out how the court reasons, I have done a thematic study with administrative court judgments as my empirical material. After I´d coded the material, it quickly became obvious that there were mainly two reasons why the court rejected the guardians' wish for terminated care. The first was that the conditions had not changed enough and the other reason was that the parents were lacking insight.  In my analysis, I chose to use the attachment theory and a social constructionist perspective. Based on these theoretical frameworks, I could see that connection to the child was something the court put great importance in. Furthermore, I could identify that the court reasoned differently on some aspects depending on whether it was the mother, father or both who wanted the care to be terminated. This study is relevant for social work since it can contribute to an increased understanding of what the court finds important in assessing whether care is necessary or not. This could make it easier for the social services to come up with an action plan for the guardians, in order to effectively help them get their children home again. Despite the fact that the Nordic countries largely have a similar approach when it comes to child care investigations, there are also some differences that could be of great importance to the individual. This has made me reflect on whether or not Sweden's system is the most legally secure. And if there are aspects we could learn and maybe take after from our neighbours.

No description available.

Cette thèse est composée de trois chapitres abordant des questions théoriques et empiriques concernant le financement des projets d’investissement. Dans le premier chapitre, La réputation des conseillers financiers et le coût de la dette : preuves empirique sur des prêts de financement de projets, nous formulons un modèle théorique du rôle et de l’impact des conseillers financiers sur les prêts de projets d’investissement à grande échelle. À l’aide de données détaillées sur les prêts de financement de projets (Projectware), nous testons des hypothèses concurrentes sur la valeur du conseiller financier pour les promoteurs de projets, et nous examinons les effets sur les caractéristiques de prêt de l’utilisation de conseillers communs vs individuels. Nous trouvons que les promoteurs embauchent des conseillers financiers pour augmenter leur niveau d’endettement plutôt que pour réduire l’information asymétrique entre eux et les prêteurs. Dans le deuxième chapitre, Les banques à la fois conseiller et arrangeur : coût de la dette de prêts de financement de projet, nous étudions la résolution du problème de fiabilité des conseillers financiers. Ce chapitre examine, à l’aide des données sur les prêts de financement de projets (Projectware), si la participation de conseiller financier dans le syndicat prêteur aide à résoudre leur problème de fiabilité. En utilisant les données Projectware sur le financement de projets entre 2001 et 2015, nous testons trois hypothèses concurrentes. Dans l’ensemble, nos résultats montrent que les projets impliquant des banques jouant le double rôle de conseiller financier et d’arrangeur ont des spreads de crédit plus élevés avec une maturité plus longue de la dette. Dans le troisième chapitre, Évaluation des options réelles dans un monde de Gollier/Weitzman : l’effet de l’incertitude des taux d’actualisation à long terme, nous dérivons d’abord un modèle d’options réelles de type Ingersoll-Ross sous Gollier/Weitzman. Puis, nous appliquons le modèle au cas d’un projet d’investissement dans un champ pétrolifère. Nous montrons comment la valeur de l’option réelle à long terme et le moment d’investissement optimal sont affectés, et aussi que les résultats sont cohérents avec les preuves récentes sur la prise de décision d’entreprise en cas de préférences incomplètes ou d’ambiguïté. Nous constatons que, par rapport au DDR, les modèles standards utilisant des taux d’intérêt constants ou de retour à la moyenne sous-évaluent les projets et leurs options réelles d’attente ou d’abandon. / This thesis is comprised of three Chapters addressing theoretical and empirical issues concerning the financing of capital projects. In the first Chapter, Financial advisor reputation and the cost of debt: evidence from project finance loans, we formulate a theoretical model of the role and impact of financial advisors on large-scale investment project loans, and estimate it using a detailed dataset of project finance loans (Projectware). We test competing hypotheses on the value to project sponsors of financial advisors, and we examine the effects on loan characteristics of using common vs. individual advisors. We find that sponsors hire financial advisors to increase their debt levels rather on reducing asymmetric information between them and prospective lenders. In the second Chapter, Banks as both Advisor and Arranger: cost of debt evidence from project finance loans, we study the resolution of the problem of financial advisor reliability. This chapter examines, using data on project finance loans (Projectware), whether financial advisor involvement in the lending syndicate helps to solve their reliability problem. Using Projectware data on project finance (PF loans between 2001 and 2015, we test three competing hypotheses. Overall, our findings show that projects involving banks playing the dual role of FA and MLA have higher loan spreads with longer debt maturity than those without such banks playing the dual role. In the third Chapter, Real option valuation in a Gollier/Weitzman world: the effect of long-run discount rate uncertainty, we first derive an Ingersoll-Ross-type real option model under Gollier/ Weitzman long-run discount rate uncertainty, and then apply the model to the case of an oil field investment project. We show how long-run real option value and optimal investment timing are affected, and also that the results are consistent with recent evidence on corporate decision-making under incomplete preferences or ambiguity. We find that, compared with DDR, standard models using constant or mean-reverting interest rates undervalue projects and their real options to wait or to abandon.

Tableau d’honneur de la Faculté des études supérieures et postdoctorales, 2015-2016 / Cette thèse étudie la performance des fonds mutuels du point de vue de leurs clientèles les plus favorables. Elle comporte trois essais dans lesquels nous développons et adaptons une approche de mesure de performance qui considère le désaccord entre investisseurs et les effets de clientèle pour répondre à trois questions de recherche. Dans le premier essai, nous étudions le désaccord entre investisseurs et les effets de clientèle dans l’évaluation de performance en développant une mesure pour les plus favorables clientèles des fonds. La mesure est une borne supérieure de performance dans un marché incomplet sous conditions de la loi d’un seul prix et d’absence de bonnes affaires que sont les investissements aux ratios de Sharpe déraisonnablement élevés. Nous montrons que considérer le point de vue des clientèles les plus favorables résulte en une performance généralement positive. Le désaccord total mesuré par la différence entre les bornes supérieure et inférieure de performance est économiquement et statistiquement significatif. Dans le deuxième essai, nous diagnostiquons les mesures de performance standards en comparant leurs alphas avec celui des plus favorables clientèles. Les résultats montrent que les modèles linéaires inconditionnels, leurs versions conditionnelles et la mesure basée sur la loi d’un seul prix donnent des performances sévères mais admissibles. Les modèles de consommation ont un problème d’inadmissibilité. La mesure de performance à l’abri de manipulation génère des alphas sensibles au choix du paramètre d’aversion au risque. Dans le troisième essai, nous proposons une mesure de performance spécifique aux clientèles basée sur les préférences de style des investisseurs dans les fonds mutuels. Considérant le désaccord de performance et exploitant mieux les données de classifications, nous investiguons huit mesures représentant des clientèles ayant des préférences favorables aux styles d’actions basés sur la taille et la valeur. Nous trouvons que les fonds classés selon la taille et la valeur ont des performances moyennes neutres ou positives lorsqu’évalués avec leur mesure spécifique aux clientèles appropriée. La performance des autres fonds est sensible aux clientèles. Les résultats supportent un rôle significatif des clientèles de style en évaluation de performance. / This thesis studies the performance evaluation of mutual funds from the point of view of their most favorable clienteles. It contains three essays in which we develop and adapt a performance measurement approach that accounts for investor disagreement and clientele effects to answer three research questions. In the first essay, we investigate investor disagreement and clientele effects in performance evaluation by developing a measure that considers the best potential clienteles of mutual funds. The measure is an upper performance bound in an incomplete market under the law-of-one-price condition and a no-good-deal condition that rules out investment opportunities with unreasonably high Sharpe ratios. We find that considering investor disagreement and focusing on the best potential clienteles lead to a generally positive performance for mutual funds. The total disagreement measured by the difference between upper and lower performance bounds is economically and statistically significant. In the second essay, we diagnose the validity of standard performance measures by comparing their alphas with the alpha from a performance measure that evaluates mutual funds from the point of view of their most favorable investors. The results show that unconditional linear factor models, their conditional versions and the law-of-one price measure give severe but admissible evaluations of fund performance. Consumption-based models suffer from an inadmissibility problem. The manipulation proof performance measure generates alphas that are sensitive to the choice of risk aversion parameter. In the third essay, we propose a clientele-specific performance evaluation based on the style preferences of mutual fund investors. Considering performance disagreement and better exploiting style classification data, we investigate eight measures to represent clienteles with favorable preferences for size and value equity styles. We find that funds assigned to size and value styles have neutral to positive average alphas when evaluated with their appropriate clientele-specific measure. The performance of the other funds is sensitive to the clienteles. Our findings support a significant role for style clienteles in performance evaluation.

Background: Government policy has placed greater emphasis upon health professional students gaining practical experience in real-world environments. Given the fairly new inception of the role of clinical educator in podiatry there is a paucity of research in the area of practice placement in podiatry. Research aims: Within an action research framework, the first phase focused upon exploring the capacity of clinical educators to engage with the role of mentoring, alongside the factors that might impact upon that capacity. The second phase of the project investigated the impact of a teaching tool within the placement area when utilised by clinical educators and students. Methods: The pilot study utilised established questionnaire development methods to create a survey and scale to measure clinical educators’ capacity to engage with the role. The second phase of the project used a range of qualitative data collection methods analysed using framework analysis to analyse the utility of the teaching and learning tool. Findings: Phase I resulted in a 70-item scale measuring the capacity of clinical educators to engage with the role of clinical educator and the identification of four independent variables predictive of a significant proportion of the variability of the dependent variable, capacity to engage with clinical education. Phase II confirmed the utility of the teaching and learning tool to support clinical educators and students during the placement period. An inductive placement model, explanatory of the super-complexity of the environment where the clinical educator endeavours to monitor, modify and manage the placement scope, was developed. Conclusions: In an area where research is currently scant, this study contributed to practice-based education in podiatry and to current understanding of how clinical educators undertake this complex and responsible role. This is an important area for research given the influence clinical educators have to shape and guide the next generation of podiatry professionals.