Magistro baigiamajame darbe išanalizuoti ir įvertinti Lietuvos II pakopos pensijų fondų investicijų grąžos pokyčiai verslo cikluose, iškelta fondo pasirinkimo problema bei pateikti siūlymai kaip šią problemą spręsti pensijų fondų dalyviams. Pirmoje darbo dalyje teoriniu aspektu analizuojama Lietuvos pensijų sistema, pateikiami teigiami ir neigiami kaupiamųjų fondų aspektai ir pateikiama verslo ciklų samprata. Antroje dalyje atliekama II pakopos pensijų fondų metinėse ataskaitose skelbiamų rodiklių analizė, nagrinėjami dažniausiai mokslinėje literatūroje sutinkami pensijų fondų vertinimo metodai bei pateikiamas darbo tyrimo modelis ir apibrėžiama darbo eiga. Trečioje dalyje pateikiama trumpa 2013 metų pabaigoje veiklą vykdžiusių II pakopos pensijų fondų apžvalga ir panaudojant Šarpo metodiką bei kitus pagrindinius fondų vertinimo kriterijus yra atrenkami efektyviausiai valdomi skirtingų strategijų pensijų fondai. Identifikavus verslo ciklus Lietuvoje, atliekama efektyviausiai valdomų skirtingų strategijų pensijų fondų investicijų grąžos analizė kiekvienoje verslo ciklo fazėje. Atliekama techninė analizė ir sudaromos tiesinės daugianarės regresijos lygtys, naudojamos prognozuoti investicijų grąžos pokyčius remiantis faktiniais fondų apskaitos vienetų vertės pokyčiais ir makroekonominiais rodikliais. / Master's Work analyzed and evaluated Lithuanian pillar II pension funds return on investment changes in business cycles, a series of suggestions is given for pension funds participants how to solve the problem of pension fund selection. The first part examines theoretical aspect of Lithuanian pension system, an overview of its positive and negative aspects and defined concept of business cycles. In second section analyzed indicators provided in the annual reports of pillar II pension funds, mostly encountered pension fund valuation methods in the scientific literature and workflow is defined. The third part present short review of Lithuanian pillar II pension funds which operated in 2013 and using Sharpe methodology and other most important valuation methods are selected efficiently managed by different strategies of pension funds. After identification of the business cycles in Lithuania, carried out in most effectively managed, by different strategies of pension funds, the return on investment analysis for each phase of the business cycle Technical analysis and the straight multiple regression equations used to predict changes in investment return based on the actual value of the fund units of accounting changes and macroeconomic indicators.

Background: In 2003, the National Commissioner of the South African Police Service gave instructions that all the new student constables should undergo a personnel capacity-building programme as part of their basic training. This led to the development of the Self-Management Programme by Police Social Work Services. This programme IS, since July 2004, an integral part of the empowerment of more than 8000 recruits annually. A comprehensive study into the short and long-term effects of the programme on recruits, as well as its overall return on investment (ROI), was started in 2004. In this document, only the results that were achieved with the measurement of the programme's decision-making and purpose-in-life components will, however, be covered. Objectives: The study had a twofold purpose. The first was to measure the short and long-term effect of the Financial Management, Planning of Goals, Self-knowledge, Problem-solving and HIV/AIDS Awareness modules on recruit's knowledge, attitude and behaviour. It, secondly, endeavoured to measure the programme's return on investment coefficient. Method: The study utilised an experimental research design, as well as focus groups and triangulation. It involved an average of 400 experimental group respondents, 120 control group members, 12 focus group participants and 14 presenters per module. A total of 23 questionnaires and a focus group schedule was designed and utilised in the generation of data. Results: All five modules had a practical significant effect on the respondents' knowledge, attitude and behaviour and improved their personal and professional functioning considerably. The "decision-making" and "purpose-in-life" components, as well as the programme as a whole, also produced a very high return on investment. It, therefore, implies that the Self-Management Programme should be seen as both a very effective capacity-building tool and a financial asset for the South African Police Service. / Thesis (Ph.D. (MW))--North-West University, Potchefstroom Campus, 2006.

Background: The success achieved with the South-African Police Service’s generic Personnel Capacity-Building Programmes contributed to a 2003 decision by the National Commissioner that a similar type of intervention should be included in the basic training of SAPS recruits. This led to the development of the Self-Management Programme. This programme is, since July 2004, an integral part of the empowerment of more than 8000 recruits annually and is presented on a bi-annual basis. A comprehensive study into the programme’s short-term and long-term effect and return on investment (ROI) was launched in 2004. This thesis will report on the results achieved with the measurement of the programme’s human relation and health maintenance components. Objectives: The primary aim of the study was to determine the effect of the Self-Management Programme’s human relations and health maintenance modules on the knowledge, attitude and behaviour of SAPS recruits, as well as the programme’s return on investment coefficient. Method: The study utilised an experimental research design, as well as focus groups and triangulation. It involved an average of 520 recruits (400 for the experimental groups and 120 for the control groups) per module. This was supplemented by qualitative research in which 91 recruits participated in various focus groups. The modules and programme was also subjected to a structured and comprehensive return on investment analysis. Results: Through the triangulation of measurements it was ascertained that the human relations and health maintenance modules had a practical significant effect on the recruits’ knowledge, attitude and behaviour and empowered them on both a personal and a professional level. The ROI analysis also showed that the programme was of considerable financial benefit to the SAPS and should remain as an integral part of all new recruits’ training in the future. / Thesis (Ph.D. (Social Work))--North-West University, Potchefstroom Campus, 2006.

Background: The success achieved with the South-African Police Service’s generic Personnel Capacity-Building Programmes contributed to a 2003 decision by the National Commissioner that a similar type of intervention should be included in the basic training of SAPS recruits. This led to the development of the Self-Management Programme. This programme is, since July 2004, an integral part of the empowerment of more than 8000 recruits annually and is presented on a bi-annual basis. A comprehensive study into the programme’s short-term and long-term effect and return on investment (ROI) was launched in 2004. This thesis will report on the results achieved with the measurement of the programme’s human relation and health maintenance components. Objectives: The primary aim of the study was to determine the effect of the Self-Management Programme’s human relations and health maintenance modules on the knowledge, attitude and behaviour of SAPS recruits, as well as the programme’s return on investment coefficient. Method: The study utilised an experimental research design, as well as focus groups and triangulation. It involved an average of 520 recruits (400 for the experimental groups and 120 for the control groups) per module. This was supplemented by qualitative research in which 91 recruits participated in various focus groups. The modules and programme was also subjected to a structured and comprehensive return on investment analysis. Results: Through the triangulation of measurements it was ascertained that the human relations and health maintenance modules had a practical significant effect on the recruits’ knowledge, attitude and behaviour and empowered them on both a personal and a professional level. The ROI analysis also showed that the programme was of considerable financial benefit to the SAPS and should remain as an integral part of all new recruits’ training in the future. / Thesis (Ph.D. (Social Work))--North-West University, Potchefstroom Campus, 2006.

<p>Pension fund companies manage and invest large amounts of money on behalf of their members. In return for their contributions, members expect a benefit at termination of their contract. Due to the volatile nature of returns that pension funds attain, pension companies started attaching a minimum guaranteed amount to member&rsquo / s benefits. In this mini-thesis we look at the pioneering work of Brennan and Schwartz [10] for pricing these minimum guarantees. The model they developed prices these minimum guarantees using option pricing theory. We also look at the model proposed by Deelstra et al. which prices minimum guarantees in a stochastic financial setting. We conclude this mini-thesis with new contributions where we look at simple alternative ways of pricing minimum guarantees. We conclude this mini-thesis with an approach, related to the work of Brennan and Schwartz [10], whereby the member&rsquo / s benefit is maximised for a given minimum guaranteed amount, which comprises of multi-period guarantees. We formulate a method to find the optimal stream of these multi-period guarantees.</p>

Magister Scientiae - MSc / Pension fund companies manage and invest large amounts of money on behalf of their members. In return for their contributions, members expect a benefit at termination of their contract. Due to the volatile nature of returns that pension funds attain, pension companies started attaching a minimum guaranteed amount to member&rsquo;s benefits. In this mini-thesis we look at the pioneering work of Brennan and Schwartz [10] for pricing these minimum guarantees. The model they developed prices these minimum guarantees using option pricing theory. We also look at the model proposed by Deelstra et al. which prices minimum guarantees in a stochastic financial setting. We conclude this mini-thesis with new contributions where we look at simple alternative ways of pricing minimum guarantees. We conclude this mini-thesis with an approach, related to the work of Brennan and Schwartz [10], whereby the member&rsquo;s benefit is maximised for a given minimum guaranteed amount, which comprises of multi-period guarantees. We formulate a method to find the optimal stream of these multi-period guarantees. / South Africa

Twice a year, NAI Svefa publishes a report containing statistics on Sweden's real estate market.The report shows that commercial real estate on average has a clearly higher rate of returncompared to residential real estate. Risk and return have a close relationship where investorswho take a higher risk also expect a higher return. This indicates that commercial properties aremore risky to hold compared to residential properties. This paper examines the risks that cancause the difference in the yield requirement between the two property types. Six risks havebeen selected, three of which count as micro risks and three count as macro risks. The microrisks consist of financial risk, liquidity risk and business risk. The macro risks consist of cyclicalrisk, interest rate risk and political risk.The study is qualitative and includes personal interviews with eight respondents from wellestablishedSwedish real estate companies. Data collection has been done through interviewswhere respondents' responses have been compiled and then compared to each other. Theinterviews show that Swedish real estate companies agree with the reasoning between risk andreturn and that risk assessment is an important part of real estate investments.The study's results show that commercial real estate companies value financial, liquidity andbusiness risk higher than real estate companies focused on residential real estate. Interest raterisk and business risk are similarly assessed in both property types. However, the political riskis valued higher by real estate companies focused on residential real estate. The study showsthat all risks are linked, which makes it difficult to identify an individual risk that individuallycontrols the rate of return. However, after the study's implementation, the cyclical risk appearsto be the risk that has the greatest impact on the difference in the yield requirement between thetwo property types.

Submitted by Nadir Basilio (nadirsb@uninove.br) on 2017-05-22T17:57:59Z No. of bitstreams: 1 Paulo Ferreira Guimaraes.pdf: 2675378 bytes, checksum: a280aaa9dfb80451dede9aeeb5020a24 (MD5) / Made available in DSpace on 2017-05-22T17:57:59Z (GMT). No. of bitstreams: 1 Paulo Ferreira Guimaraes.pdf: 2675378 bytes, checksum: a280aaa9dfb80451dede9aeeb5020a24 (MD5) Previous issue date: 2017-02-20 / This research, through a case study carried out in a company providing services in the audiovisual area, sought, through the application of sustainable project management, to analyze the influence of innovations on ecoefficiency in events, especially corporate events. The event sector begins to move towards sustainable events, in which the use of recycling techniques, selective collection of waste, conscious use of water, even more with the current water crisis, become increasingly common practices and that corroborate to satisfy the concept of the Triple Bottom Line (TBL). In order to anticipate and mitigate to the maximum the problems that negatively affect and influence the TBL, this study proposed a prior analysis of what is possible to mitigate during the execution of the event and not only treat the post-event, that is. After the generation of waste. One of the ways to achieve this goal is through innovations, which are presented in a dynamic way and promote a constant evolution, whether in equipment or processes. The application of these innovations was the object of study in this work, with the intention of showing how they can be applied to help in the ecoefficiency of the events. With a comparative approach between solutions and equipment that do not use innovations aligned with sustainable demands and others that have such requirements, we sought to analyze how innovations can collaborate with events to become more assertive about what we all seek, not Only in events, but for our planet, which is to use resources in a rational way, so that it does not compromise the needs of future generations. The case study developed through a qualitative and exploratory research sought to find correlations between the innovations and their potential to add value, both to clients contracting the events and to the participants of the same, either through the return on the investment made or through the perception of value observed by the participating public. As a basis for this study framework, several measurements were carried out and analyzed, comparing the proposed solutions, analyzing their collaborative potential for ecoefficiency in events. The main result was a total collaboration of the eco-efficient innovations proposed for sustainability in events. The analyzes showed that all the innovations proposed were totally satisfactory in the two dimensions that cover eco-efficiency, that is, the environmental and the economic. / Esta pesquisa, por intermédio de um estudo de caso realizado em uma empresa prestadora de serviços na área de audiovisual, buscou, por meio da aplicação da gestão de projetos sustentáveis, analisar a influência das inovações sobre a ecoeficiência em eventos, em especial eventos corporativos. O setor de eventos começa a ter uma movimentação em busca de eventos sustentáveis, nos quais o uso de técnicas de reciclagem, coleta seletiva de resíduos, uso consciente das águas, ainda mais com a crise hídrica atual, tornam-se práticas cada vez mais usuais e que corroboram para satisfazer o conceito do Triple Bottom Line (TBL). Com o objetivo de se antecipar e mitigar ao máximo os problemas que atingem e influenciam de forma negativa o TBL, este estudo propôs uma análise prévia do que é possível se mitigar durante a execução do evento e não tratar somente o pós-evento, ou seja, após a geração dos resíduos. Uma das formas de alcançar este objetivo é por meio das inovações, as quais se apresentam de forma dinâmica e promovem uma constante evolução, sejam elas nos equipamentos ou nos processos. A aplicação dessas inovações foi o objeto de estudo neste trabalho, com o intuito de mostrar como as mesmas podem ser aplicadas para ajudar na ecoeficiência dos eventos. Com uma abordagem comparativa entre soluções e equipamentos que não utilizam inovações alinhadas com as demandas sustentáveis e outros que possuam tais requisitos, buscou-se analisar como as inovações podem colaborar com os eventos para que se tornem mais assertivos em relação ao que todos buscamos, não só nos eventos, mas sim para o nosso planeta, que é utilizar os recursos de forma racional, para que não se comprometa as necessidades das gerações futuras. O estudo de caso desenvolvido por meio de uma pesquisa qualitativa e exploratória procurou encontrar correlações entre as inovações e seu potencial de agregar valor, tanto aos clientes contratantes dos eventos como aos participantes dos mesmos, seja por meio do retorno sobre o investimento realizado ou pela percepção de valor observada pelo público participante. Como base deste arcabouço de estudo foram realizadas e analisadas diversas medições, comparando as soluções propostas, analisando seu potencial colaborativo à ecoeficiência em eventos. Como principal resultado, identificou-se uma total colaboração das inovações ecoeficientes propostas para a sustentabilidade em eventos. As análises desenvolvidas mostraram que todas as inovações propostas foram totalmente satisfatórias nas duas dimensões que abrangem a ecoeficiência, ou seja, a ambiental e a econômica.

Motivating employees is one of the management top priorities nowadays. Motivated employees are less likely to leave the company, which leads to lower turnover rate which in turn can lead to lower costs for the company. The purpose of this study is to illustrate how organizations can increase employees’ motivation and lower employee turnover by using reward packages.

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior - CAPES / The objective of this experiment was to evaluate the effect of diet with high grain diets on the carcass tissue composition, the centesimal composition and the profile of the fatty acids deposited in the meat of Lambs finished in confinement, as well as the economical viability of the system. Thirty - eight male lambs, castrated, of the Texel breed, born of simple birth and weaned at approximately 50 days of age, were used. The treatments were constituted by different types of grains, unprocessed, being: corn grain, white oat grain, black oat grain or rice grain with bark. The animals were slaughtered when they reached the pre-established slaughter weight of 32 kg, which corresponds to 60% of the adult weight of their mothers. The lambs of the different treatments presented similarity as to the proportion of muscle. However, corn-based treatment lambs presented lower percentage of bone and higher amount of fat. Considering the cholesterol variable, the animals treated with black oats presented results lower than 90mg / 100g, and human health could be considered healthy in this approach. Grouping the fatty acids evaluated by degree of saturation, corn-based treatment lambs had the lowest results when compared to the others, but when evaluating these lipids individually, the animals of this treatment contained the highest proportion of fatty acids Undesirable when compared to treatments based on white oats, shelled rice or black oats. The polyunsaturated: saturated ratio also presented superior results for the lambs fed the corn grain diet when compared to the others. In order to evaluate the economic issue, consecutive historical quotations from 2003 to 2016 were considered. The univariate analysis was characterized by a completely randomized design, with four treatments and eight replications. The multivariate analysis consisted of clustering. By the univariate analysis, the only treatment that proved advantageous was the corn grain base, where values were found for gross margin of R $ 16.55; Net margin of R $ 10.45; Profit of R $ 12.59; Net present value of R $ 11.44; Benefit index: cost of 1.05; Additional return on investment of 2.4% a.m.; Internal rate of return of 3.3% a.m. and discounted payback of 1.91 months. By cluster analysis, corn treatment was also the one that presented the greatest discrepancy in relation to the other treatments, while the treatments based on white oats and black oats were the ones that presented the closest ones. Thus, meat from lambs confined to a high-fat diet, because it presents results close to those recommended for healthy consumption, can be ingested without risk to consumers, since human food consists not only of sheep meat but must be nutritionally balanced. The joint analysis of the financial indicators indicated the feasibility of the confinement of lambs with a high grain diet only for the treatment based on corn grain, determining economic unviability in this study for the other evaluated treatments. / O presente experimento, conduzido no Laboratório de Ovinocultura da Universidade Federal de Santa Maria, teve como objetivo avaliar o efeito da alimentação com dietas de alto grão, sobre a composição tecidual da carcaça, a composição centesimal e o perfil dos ácidos graxos depositados na carne de cordeiros terminados em confinamento, bem como a viabilidade econômica do sistema. Foram utilizados 32 cordeiros machos, castrados, da raça Texel, nascidos de parto simples e desmamados com aproximadamente 50 dias de idade. Os tratamentos foram constituídos por diferentes tipos de grãos, não processados, sendo: grão de milho, grão de aveia branca, grão de aveia preta ou grão de arroz com casca. Os animais foram abatidos quando atingiram o peso vivo de abate pré-estabelecido de 32 kg, que corresponde a 60% do peso adulto de suas mães. Os cordeiros dos diferentes tratamentos apresentaram similaridade quanto a proporção de músculo. Porém, os cordeiros do tratamento a base de grão de milho apresentaram menor percentagem de osso e superior quantidade de gordura. Já considerando a variável colesterol os animais tratados com aveia preta apresentaram resultados inferiores a 90mg/100g, podendo ser considerado salutar a saúde humana nesta abordagem. Agrupando os ácidos graxos avaliados por grau de saturação, os cordeiros do tratamento a base de grão de milho apresentaram os menores resultados quando comparados aos demais, mas ao avaliar individualmente estes lipídios contatou-se que os animais desse tratamento continham a maior proporção de ácidos graxos não desejáveis quando comparado aqueles dos tratamentos a base de aveia branca, arroz com casca ou aveia preta. A relação poliinsaturado:saturado também apresentou resultados superiores para os cordeiros alimentados com a dieta a base de grão de milho quando comparado aos demais. Para avaliar a questão econômica foram consideradas cotações históricas consecutivas dos anos de 2003 a 2016. A análise univariada caracterizou-se por delineamento inteiramente casualizado, com quatro tratamentos e oito repetições. A análise multivariada consistiu em agrupamento (cluster). Pela análise univariada, o único tratamento que se mostrou vantajoso foi o a base de grão de milho, onde foram encontrados valores para margem bruta de R$ 16,55; margem líquida de R$ 10,45; lucro de R$ 12,59; valor presente líquido de R$ 11,44; índice benefício:custo de 1,05; retorno adicional sobre o investimento de 2,4% a.m.; taxa interna de retorno de 3,3% a.m. e payback descontado de 1,91 meses. Pela análise de cluster, o tratamento a base de milho também foi o que apresentou maior discrepância em relação aos demais tratamentos, enquanto que os tratamentos a base de aveia branca e aveia preta foram os que se apresentaram mais próximos. Assim a carne proveniente de cordeiros confinados com dieta de alto grão, por apresentar resultados próximos aos preconizados para o consumo salutar, pode ser ingerida sem proporcionar risco aos consumidores, uma vez que a alimentação humana não consiste apenas em carne ovina devendo ser nutricionalmente balanceada. A análise conjunta dos indicadores financeiros indicou viabilidade do confinamento de cordeiros com dieta de alto grão somente para o tratamento a base de grão de milho, determinando inviabilidade econômica neste estudo para os demais tratamentos avaliados.