Huang Ming Xi = 三因結構模型之公司債劵定價及其應用 / 黃銘浠. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2003. / Includes bibliographical references (leaves 99-102). / Text in English; abstracts in English and Chinese. / Huang Ming Xi = San yin jie gou mo xing zhi gong si zhai quan ding jia ji qi ying yong / Huang Mingxi. / Abstract --- p.i / Acknowledgements --- p.iii / Contents --- p.iv / List of Figures --- p.vii / List of Tables --- p.xiii / Chapter Chapter 1. --- Introduction --- p.1 / Chapter Chapter 2. --- Structural Models of Credit Pricing --- p.3 / Chapter 2.1 --- Introduction --- p.3 / Chapter 2.2 --- Merton's Model (1974) --- p.4 / Chapter 2.2.1 --- The Framework of the Traditional Contingent Claims Analysis (CCA) --- p.5 / Chapter 2.2.2 --- The Valuation of Corporate Bonds with B-S Option Pric- ing Theory --- p.9 / Chapter 2.2.3 --- The Limitations of Traditional Contingent Claim Ap- proach --- p.12 / Chapter 2.3 --- "Shimko, Tejima and Deventer (1993)" --- p.15 / Chapter 2.3.1 --- The Merton's Model in a Stochastic Interest Rate Frame- work --- p.15 / Chapter 2.4 --- Longstaff and Schwartz (1995) --- p.17 / Chapter 2.4.1 --- A Structure Model of Early Default Mechanism and De- viations from APR --- p.17 / Chapter 2.5 --- Briys and de Varenne (1997) --- p.21 / Chapter 2.5.1 --- A Structure Model of Stochastic Default Barrier --- p.21 / Chapter 2.5.2 --- The Valuation of Risky Zero-Coupon Bonds --- p.22 / Chapter 2.6 --- Stationary-leverage-ratio Models --- p.25 / Chapter 2.6.1 --- Tauren (1999) --- p.25 / Chapter 2.6.2 --- Collin-Dufresne and Goldstein (2001) --- p.27 / Chapter 2.7 --- Summary --- p.29 / Chapter Chapter 3. --- The Valuation Framework of the Three-factor Model --- p.32 / Chapter 3.1 --- Introduction --- p.33 / Chapter 3.2 --- The Framework of the Three-factor Model --- p.35 / Chapter 3.3 --- The Valuation of Risky Bonds --- p.39 / Chapter 3.3.1 --- Imposing an Early Default Mechanism --- p.42 / Chapter 3.3.2 --- Application: The Valuation of Probability of Default --- p.45 / Chapter Chapter 4. --- The Pricing Methodology of the Three-factor Model --- p.46 / Chapter 4.1 --- Simplification of the Problem --- p.47 / Chapter 4.2 --- Methodology of Upper-lower Bound Scheme --- p.48 / Chapter 4.2.1 --- Single-stage Approximation --- p.48 / Chapter 4.2.2 --- Illustrative Examples --- p.53 / Chapter 4.2.3 --- Multistage Approximation --- p.54 / Chapter 4.2.4 --- Summary --- p.58 / Chapter 4.2.5 --- Systematic Multistage Estimation of Bond Price --- p.61 / Chapter 4.3 --- Estimation of Default Probability --- p.63 / Chapter Chapter 5. --- Numerical Results and Discussion --- p.69 / Chapter 5.1 --- Initial Setting of Parameters --- p.69 / Chapter 5.2 --- Numerical Results and Discussion --- p.74 / Chapter Chapter 6. --- Conclusion --- p.89 / Appendix A. The Derivation of the Three-Factor Model --- p.91 / Bibliography --- p.99

Chan Chi-fai Quincy. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2003. / Includes bibliographical references (leaves 52-55). / Abstracts in English and Chinese. / ACKNOWLEDGMENTS --- p.iv / LIST OF TABLES --- p.v / LIST OF ILLUSTRATIONS --- p.vi / CHAPTER / Chapter ONE --- INTRODUCTION --- p.1 / Chapter TWO --- LITERATURE REVIEW --- p.4 / Chapter THREE --- DATA AND METHODOLOGY --- p.8 / Moving Averages (MA) / Relative Strength Index (RSI) / Buy-and-Hold (B & H) and the Annual Return / Transaction Costs and the Adjusted Return / Chapter FOUR --- EMPIRICAL RESULTS --- p.13 / Hong Kong-HSI / Results Without Short Selling / Results With Short Selling / Results / Singapore - STII / Results Without Short Selling / Results With Short Selling / Results / Taiwan-TWSE / Results Without Short Selling / Results With Short Selling / Results / Korea-KSP / Results Without Short Selling / Results With Short Selling / Results / Chapter FIVE --- CONCLUSION --- p.30 / TABLES --- p.32 / ILLUSTRATIONS --- p.45 / BIBOGRAPHY --- p.52

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Measurement of price level with consumer price indices forms some gap between measured inflation and perceived inflation. The graduation theses is concerned with quantification of gap in particular group of individuals and shows on measuring data, how this gap influents individuals, if growth of cost of living according to consumer price index copies price perception. It illustrates influence the incorrect construction of indices as important orientation point in economy, which redistribution of recourses, in context with usage of indices for income indexation and suggests more appropriate approach for constructing aggregate price index. It investigates what factors influence price perception and comes into gain and loses calculation which people are confronted. Price perception is influenced both socio-economic and political environment. The end of theses overlaps into political vote and investigates if there is causal of relationship between price perception and political vote.

The thesis brings a comprehensive analysis of the food crisis of recent years. There was a dramatic increase in staple food prices in 2007-2008 and 2010-2011 which combined with persistent poverty is a serious problem for many millions of people. The objective of the thesis is to analyze the causes of this phenomenon. There are also examined socio-economic effects of rising global food prices on the quality of life in developing countries. In this sense, research is carried out whether the appropriate means helped to solve the food crisis and there are also suggested other options to address the current situation in order to reduce hunger and undernutrition in the world and avoid other people fall into poverty. Research is conducted using the method of observation, causal analysis and synthesis.

The thesis deals with economic theory and research of the drug markets. Analysis of the literature compares individual approaches to theories by present authors, including their conclusions on data for the U.S. Established hypotheses based on the conclusions of analyzed literature are tested mainly using regression analysis on the available Czech data, where data on marihuana markets have high interdependency. The effects of selected variables on the price of drugs, which is a key characteristic of drug markets, are tested on data for the EU-27. The work describes trends in European drug markets and provides evidence on the influence of the variables on the price of drugs.

The Thesis intends to introduce business in government regulated Water Industry, accurately the area of Water Supply and Sewerage. Its aim is to describe the business market of this field. Moreover, to find out whether the companies in private multinational corporation ownership don't burden their customers with too high price of water supply and find if there is any relationship between the price of water and the profitability of these enterprises. To achieve this aim, companies are categorized into five groups and compared. These groups are created on the basis of the shares of private foreign corporation. A separate group is made of companies that are in ownership of municipalities that means without the influence of private foreign corporations. Firstly the one component prices are compared, then two-component ones. In conclusion, these prices are compared to profitability of these enterprises.

Made available in DSpace on 2016-04-28T20:19:14Z (GMT). No. of bitstreams: 1 2007- Jose Vilmar de Oliveira.pdf: 344198 bytes, checksum: d8223b0fe77e3a2555b29e25161d8820 (MD5) Previous issue date: 2007-08-27 / The general objective of this search consists of analyzing the selling prices in the companies of maintenance services in Barra Mansa city, Rio de Janeiro, state. The p resent work verifies the qualification of the involved professionals in the confection of the selling costs and price in the companies and the interference of the owners in the determination therm. The work was divided in five chapters, at the first one it describes, beyond the mentioned objectives, the problem, the assumption, the methodology and the limit of this search. In the second chapter, the literary revision investigates some authors that shows the concepts of costs and selling prices, the vision of reengeneering, responsible for substitution the proper men s work power at the companies for outsorce of services and the use of another companies. They are observed under the view of Administration Sciences and the Law, that is the base of the global phenomenon called outsourcing. At the third chapter, the methodology was on field research treated with a description about the company, the place of this study, the history of Barra Mansa city, it is determine which research instrument and collects of da ta will be used. At the fourth chapter, after receiving the report sent to that woes business's leaders, they will be analysed of another companies and the results will be done, to obtain the structural picture of the companies, as their sizes, the profess ional profile of the employees that work in the acountable area and the profile of the owners. At the fifth chapter it will be made the conclusions and it will be presented some suggestions to the outsorce companies. / O objetivo geral nesta disserta??o consiste em analisar os pre?os de venda nas empresas prestadoras de servi?os de manuten??o, na cidade de Barra Mansa, estado do Rio de Janeiro. O presente trabalho trata de verificar a qualifica??o dos profissionais envolvidos na confec??o dos custos e pre?o de vendas nas empresas e a interfer?ncia dos propriet?rios na determina??o dos mesmos. O trabalho foi realizado em cinco cap?tulos, sendo que no primeiro, descreve-se, al?m dos objetivos mencionados, a formula??o do problema, a suposi??o, a metodologia e a limita??o do estudo. No segundo cap?tulo, a Revis?o Liter?ria, s?o investigados v?rios autores que mostram conceitos de custos e pre?o s de venda, a vis?o da reengenharia, respons?vel pela substitui??o da m?o-de-obra pr?pria das empresas por prestadores de servi?os e a terceiriza??o, vista sob a ?tica das Ci?ncias da Administra??o e do Direito, que embasam este fen?meno global chamado ter ceiriza??o. No terceiro cap?tulo realiza -se a metodologia da pesquisa de campo, com um hist?rico sobre a empresa, local do estudo, a hist?ria da cidade de Barra Mansa, determina-se qual o instrumento de pesquisa e coleta de dados. No quarto cap?tulo, ap?s o recebimento do question?rio enviado aos dirigentes empresariais terceirizados, realiza-se a an?lise e discuss?o dos resultados, onde, tem-se, o retrato estrutural das empresas, como o seu tamanho, o perfil profissional dos funcion?rios que trabalham na ?rea cont?bil e o perfil dos propriet?rios. No quinto cap?tulo faz -se as conclus?es e apresenta - se algumas sugest?es ?s empresas terceirizadas.

O modelo, ou modelos, de organização da Economia Solidária nasceu, aproximadamente, ao mesmo tempo em que surgia o capitalismo industrial e foi reinventado na década de 1990, enquanto alternativa ideológica de afronta aos efeitos excludentes do capitalismo e/ou alternativa de política de emprego e renda à população mais pobre, desempregada ou subempregada, com a formação de iniciativas por parte da população excluída do mercado. Esta “reinvenção” ocorre majoritariamente sob orientação de organizações religiosas, sindicais, universitárias e ONG’s. Segundo a SENAES (Secretaria Nacional de Economia Solidária) (BRASIL, 2004b), considera-se Economia Solidária o conjunto de atividades econômicas com as seguintes características: cooperação, autogestão, viabilidade econômica e solidariedade. Em 2005, a secretaria identificou 14.954 empreendimentos econômicos solidários no Brasil, dos quais 85 em Porto Alegre. Para estudar a Economia Solidária, pela ótica econômica, não é suficiente a teoria econômica tradicional, pois é necessário: entender o surgimento e a sobrevivência de associações que encerram concomitantemente as lógicas econômica, política e social; considerar a relação entre ética e economia, com uma aproximação das duas, e entender esta relação tanto na busca de outros princípios de comportamento econômico quanto no entendimento dos juízos de valores feitos pelas pessoas ao adjetivarem um comércio de justo; entender o mercado como uma forma de alocação, dentre outras e que as outras formas de alocação permanecem, além de entender o mercado como uma formação social; entender como se formam os preços “justos” e porque um consumidor escolheria um produto de Economia Solidária, mesmo tendo que pagar um preço mais elevado. Foram realizados dois estudos de caso em Porto Alegre (RS, Brasil): nas feiras da Cooperativa Ecológica Coolméia e nas lojas da Etiqueta Popular. Por meio de entrevistas realizadas com produtores cooperados e com consumidores dos dois empreendimentos, buscou-se identificar se estes percebem os empreendimentos como mais do que uma alternativa de emprego, se os consumidores são conscientes de que compram uma relação de compromisso junto com os produtos e qual é o reflexo dos anteriores na formação dos preços. A análise qualitativa das entrevistas demonstra um grau de aderência com as teorias discutidas anteriormente, mas também demonstra que há ainda um longo caminho a ser percorrido, o que é percebido pelos produtores entrevistados. O fato da maioria dos produtores afirmarem que estavam em melhor situação sócio-econômica com sua participação nos empreendimentos e o fato de alguns consumidores parecerem conscientes com relação ao efeito de suas decisões de compra podem apontar a Economia Solidária como uma forma alternativa à economia capitalista. A dúvida que permanece diz respeito à dimensão desta Economia Solidária, ou seja, se ela conseguiria incluir toda a população excluída pela economia capitalista, sem deixar de gerar os benefícios encontrados até agora nestes empreendimentos e até mesmo os aumentando. Ademais, há dúvidas quanto à relação da Economia Solidária com a economia capitalista e com o governo. / The model, or models, of organization of the Solidarity Economy was born, approximately, at the same time as the industrial capitalism was being developed. It has, however, been reinvented in the 1990’s as an ideological alternative of confrontation to the excluding effects of the capitalism and/or as an alternative of employment and income policies to the poorest, unemployed or underemployed population. This was made by means of initiatives of the population excluded from the market, under the orientation of religious organizations, labor unions, universities and NGO’s. According to SENAES (National Office of Solidarity Economy) (BRASIL, 2004b), it is considered Solidarity Economy the ensemble of economic activities with the following characteristics: cooperation, self-management, economic feasibility and solidarity. In 2005, the Office identified 14.954 solidary enterprises in Brazil, among which 85 are located in Porto Alegre. To study the Solidarity Economy, from the economic point of view, the traditional economic theory is not suitable, because it is necessary to: understand the emergence and the survival of association that enclose, at the same time, the economic, social and political logics; consider the relationship between ethics and economics, and, also, understand both the search of other economic behavioral principles and the understanding of moral judgments made by people when qualifying a trade as fair; understand the market as one form of allocation among others, which also continue to exist, as well as understand that the market is a social construction; understand how the fair prices are formed and why a consumer would choose a product of Solidarity Economy, even if he has to pay a higher price for it. We have analyzed two cases of Porto Alegre, Brazil: the open markets of Cooperativa Ecológica Coolméia e the stores of Etiqueta Popular. The assessment was made by interviews with producers and consumers of both enterprises, as a means to identify if the producers view the undertaking as more than an employment alternative, if the consumers are conscious that they buy a commitment relationship along with the products, and what is the reflex of the answer of the two previous questions in their price formation. The qualitative analysis of the interviews has demonstrated a degree of adherence to the theories discussed before. Also, it has demonstrated that there is still a long way to go through, and that the producers have realized. The fact that the majority of the producers has affirmed that they were better off because of their participation and the fact that some consumers appeared to be conscious of the effect of their purchase decisions might indicate that the Solidarity Economy is an alternative to the capitalist economy. However, doubt still remains as to the size of this economy, that is, could it include all the population excluded by the capitalist economy, without overlooking the benefits generated until now, and even enlarging them? Besides, there are doubts as to the relationship of the Solidarity Economy with the capitalist economy and with the government.