The overall purpose of this thesis is to gain a better understanding of the internationalization readiness process of firms, by identifying and describing and its components. In order to reach the purpose of this thesis a case study of four Swedish SMEs has been conducted, namely: MaxiGrip AB, Playsay AB, Flano Design AB and KOTP. Face-to-face interviews were carried out with the main decision makers within the firms. The theoretical framework involves a description of different internationalization theories, such as the transaction cost approach, the traditional “stage” model, the network approach and the international entrepreneurship approach. Based on these four internationalization theories has the traditional “stage” model been chosen to function as a theoretical foundation for the analysis. In the analysis the theoretical framework is related to the results of the empirical study. The barriers faced by firms prior to internationalization are discussed and analysed, as well as theimportance of each barrier, resulting in internal barriers being regarded of greater importance. The decision maker’s role and influence during the process is described as highly influential. The key success factors enabling the internationalization readiness process of firms are identified and discussed, namely: vision and international outlook of decision makers, having a unique offering, the availability of time and vast industry knowledge. It is concluded that a firm is able to achieve internationalization readiness by fulfilling a certain criteria, which has been the result of the combination of both theory and empirical data. Resulting in the decision maker being at the center of the process. While, the internal stimuli of industry knowledge and product uniqueness are the two main influencers combined with time  and commitment. At last, both theoretical and managerial implications are presented, ending this paper with the limitations and suggestions for further research.

This thesis is aimed towards overview of current possibilities of financing of an investment project. First part of the thesis is concentrated towards explaining of the terms such as financing, division of sources of financing into individual groups, there are also stated basic information regarding sources of financing. In the practical part, there are noted individual possibilities of financing of a selected investment program based on deliveries of an investment unit into Russian Federation. In the final part of the thesis, there is carried out a comparison of specific possibilities of financing of an investment program, its evaluation from the utility point of view is summarized and there is a recommendation of an optimal variation of financing of the mentioned investment unit.

Submitted by Heloisa Gomes Slav (slav@slavadvogados.com.br) on 2015-09-30T14:18:54Z No. of bitstreams: 1 HeloisaGomesSlav_TradeFinance_Financiamento_a_Exportacao.pdf: 2783123 bytes, checksum: 3f52e35d42ee2e1f427db77b94c56f22 (MD5) / Rejected by Renata de Souza Nascimento (renata.souza@fgv.br), reason: Heloisa, boa tarde Conforme contato telefônico, será necessários alguns ajustes devido às normas da ABNT. Estarei encaminhando por e-mail. Att Renata on 2015-09-30T18:13:12Z (GMT) / Submitted by Heloisa Gomes Slav (slav@slavadvogados.com.br) on 2015-10-01T13:36:14Z No. of bitstreams: 1 HeloisaGomesSlav_TradeFinance_Financiamento_a_Exportacao.pdf: 2783550 bytes, checksum: eb2d4cb0c24f9b2efc0fad1e1fd8807b (MD5) / Approved for entry into archive by Joana Martorini (joana.martorini@fgv.br) on 2015-10-01T14:06:29Z (GMT) No. of bitstreams: 1 HeloisaGomesSlav_TradeFinance_Financiamento_a_Exportacao.pdf: 2783550 bytes, checksum: eb2d4cb0c24f9b2efc0fad1e1fd8807b (MD5) / Made available in DSpace on 2015-10-01T14:27:03Z (GMT). No. of bitstreams: 1 HeloisaGomesSlav_TradeFinance_Financiamento_a_Exportacao.pdf: 2783550 bytes, checksum: eb2d4cb0c24f9b2efc0fad1e1fd8807b (MD5) Previous issue date: 2015-09-02 / The purpose of this work is to analyze legal issues related to the international trade finance of commodities with a particular focus on pre-export finance. In light of the importance of this transaction, which is sanctioned by the monetary authorities as an 'Advanced Payment for Exports,' to promoting Brazilian exports, the author seeks to analyze legal instruments established under Brazilian legislation or socially typified, which are premised on the implementation of contractual and collateral structures aimed at eliminating basic risks in cross-border transactions with emerging economies such as Brazil. These instruments are applied during the various stages of the structured trade and commodity finance, and pose challenges for their agents – financiers, executives, and attorneys – related to obligations, risks, liabilities, collaterals, and contingencies that are under-explored in the legal literature. The topic is examined in nine chapters. The first chapter reviews the various types of trade finance transactions; the second chapter analyzes structured trade and commodity finance transactions; the third chapter deals with the parameters of rationalities (such as combined analyses of balance sheets, cash flows and assets mobilization) adopted by foreign lenders in order to provide credit to exporters; the fourth chapter is reserved for a detailed study of the transaction’s risks and their mitigation; the fifth chapter discusses the key features of pre-export finance; the sixth chapter is dedicated to regulatory aspects, concept, features, and field of application of the 'Advanced Payment for Exports'; the seventh chapter analyzes contractual aspects that are inherent to a pre-export finance transaction; the eighth and ninth chapters are dedicated to a study of collaterals, particularly with respect to the preservation of goods and rights granted as collateral for the purpose of reimbursing the capital to the foreign lender. From this perspective, the key elements of structured finance for Brazilian commodities exports shall be analyzed in order to contribute to the improvement and dissemination of these business and legal mechanisms (that are still restricted to a highly specialized audience), which were designed to promote economic development in Brazil. / O presente trabalho tem por objeto analisar aspectos jurídicos relacionados com o financiamento internacional do comércio de commodities, com dedicada atenção ao chamado 'financiamento pré-exportação' (ou pre-export finance). Considerando a relevância dessa operação ao fomento das exportações brasileiras, admitida pelas autoridades monetárias como 'Recebimento Antecipado de Exportação', ter-se-á como objetivo a análise dos instrumentos jurídicos que, recepcionados pela legislação brasileira ou socialmente tipificados, têm como premissa a implementação de estruturas contratuais e de garantias voltadas para a eliminação de riscos em operações transfronteiriças com economias emergentes, como o Brasil. Esses instrumentos são empregados nas diversas fases do financiamento estruturado de commodities, impondo aos seus agentes – financiadores, executivos e advogados – desafios relacionados com obrigações, riscos, responsabilidades, garantias e contingências pouco exploradas pela literatura jurídica. O tema será desenvolvido em nove capítulos. O primeiro conceituará as diversas modalidades de operações de trade finance; o segundo dedicará análise para as operações estruturadas de financiamento do comércio de commodities; o terceiro tratará dos parâmetros de racionalidades (como análises conjugadas de balanço contábil, fluxo de caixa e mobilização de bens) adotados pelos financiadores estrangeiros para a concessão do crédito ao exportador; o quarto será reservado ao estudo criterioso dos riscos da operação e sua mitigação; o quinto discutirá as características principais do financiamento pré-exportação; o sexto será dedicado aos aspectos regulatórios, conceito, características e campo de aplicação do 'Recebimento Antecipado de Exportação'; o sétimo analisará os aspectos contratuais inerentes à operação de financiamento pré-exportação; o oitavo e o nono serão dedicados ao estudo das garantias, sobretudo no que diz respeito à preservação de bens e direitos outorgados em garantia, com vistas ao reembolso do capital ao financiador estrangeiro. Sob esse prisma, serão analisados os principais elementos do financiamento estruturado à exportação brasileira de commodities, a fim de contribuir com o aprimoramento e a divulgação dessas técnicas empresariais e jurídicas (ainda restritas a um público especialíssimo) engendradas em prol do desenvolvimento econômico brasileiro.

This thesis deals with the possibilities of financing export contract in the company. The theoretical part provides an insight into the opportunities that companies currently have in financing their activities. There is an overview of the various forms of internal and external financing and their basic characteristics. The practical part is focused on a specific business case and options for financing various parts of the contract. The conclusion provides a comprehensive overview of the variations, their comparisons and recommendations of the best one from the complex perspective.