Rights issues are an area of much interest and research globally. With the last significant local study on the topic conducted in 2005, this paper updates the findings based on more recent data. This is also the first study to explore the impact that the company’s financial position has on the share price reaction to the announcement. The study was conducted by analysing rights issue announcements occurring on the JSE between 1st January 2001 and 31st December 2010. 35 events were used in this study since they met the criteria for clean measurement. A standard event study methodology was used. Abnormal returns were measured through both the market model and control portfolio, with the Altman Z Score utilised as a measure of the issuers’ financial position. Statistical analysis was conducted throughout to confirm significance. Average Abnormal Returns of -2.33% and -3.30% were found on the day of the announcement, depending on the model used, and Cumulative Average Abnormal Returns (CAARs) for five days post the announcement were between -5% and -6%. Of most interest, share price reactions were found to differ, with statistical significance, according to the financial position of the issuer. Companies categorised as healthy recovered from the initial decline to a CAAR of less than -1% twenty days post the announcement. In contrast companies categorised as unhealthy and in the grey zone suffered CAARs after the same period of -9.17% and -8.06% respectively. The conclusion of the study is that the well-researched share price decline on the announcement of a rights issue persists, but that this reaction is significantly worse for companies in a poor financial position, as measured by their Altman Z Score. / Dissertation (MBA)--University of Pretoria, 2012. / Gordon Institute of Business Science (GIBS) / unrestricted

The situation of the influence of human rights issues related to capital punishment has for long been a matter of debate, especially regarding the retention and abolition of the death penalty. Various countries have, during the 20th century, changed their laws and approach on capital punishment with the implementation and adoption of human rights conventions. Opinions and actions taken from international actors like the United Nations and Amnesty International will be analyzed in this thesis as these could contribute in the understanding of the human rights movement which, during the last century, has changed many countries strict retentionist approach on capital punishment to an abolitionist view.   The People’s Republic of China and the Philippines will be implemented as case studies in this thesis which aims to investigate if and how human rights issues are influencing capital punishment in these two countries. The concept of legitimacy will be used as theoretical framework in order to identify changes within three sub-concepts of legitimacy namely morality, legality, and constitutionality. These concepts will, with the help of legitimacy, offer an explanation of how the case studies have handled human rights issues in relation to the death penalty. The arguments behind the decision making of laws, regulations and policies in China and the Philippines will also be of interest in the answering of the research question as these arguments could act as changes within legality and constitutionality. Regarding the moral stand behind the practice of capital punishment, the concept of morality will assist this thesis in the explaining and understanding of the ethics behind the choice of the death penalty.   The findings of this thesis demonstrate that social structures such as history, culture, politics, and norms are important aspects in the decision- and law making of capital punishment in China and the Philippines. Obstacles identified are linked to the approach on the death penalty from the governments which, in both case studies, have a history of neglecting human rights issues. However, as China has started to reconsider their stand on capital punishment, the Philippine regime has implemented an even stricter approach on the death penalty which demonstrates that the matter of human rights issues regarding capital punishment, in the two case studies, is a complicated battle between retention and abolition and the contest of legitimacy.

This dissertation contains four essays on various topics in the fields of corporate finance and corporate governance. The first essay, entitled Corporate Governance and Ownership, presents an overview of the causes and consequences of, and possible remedies for, the separation of ownership and control in corporations. In particular, the essay addresses the costs and benefits of ownership concentration. A specific purpose is to put the role of ownership into perspective, while bringing the reader up to date with some recent developments. Essay number two, Shareholder Gains from Equity Private Placements: Evidence from the Stockholm Stock Exchange, contains an empirical investigation of the stockmarket’s reaction to announcements of equity private placements and rights issues. The essay sets out to test a range of hypotheses put forward in the literature. Extensive cross-sectional analyses of private placement discounts and abnormal returns are performed. The third essay is named Optimal Deterrence and Inducement of Take-overs: An analysis of Poison Pills and Dilution. This essay models how the ex ante wealth of shareholders could be increased with customized contractual provisions that affect takeover probabilities and premia. The proposed provisions resemble anti-takeover defense measures in the form of poison pill plans, and conversely, voluntary dilution schemes in the fashion prescribed by Sanford Grossman and Oliver Hart (1980). Finally, the fourth essay models the wealth effects of a particular takeover regulation, The Mandatory Bid Rule. This rule requires a potential bidder for a control position in a target firm to extend the offer to include any or all of the outstanding shares. Although the mandatory bid rule is aimed at the protection of minority shareholders, the essay argues that this regultion is not generally in the best interest of the shareholders. Each essay is self-contained and could, in principle, be read in any order chosen by the reader. However, for readers less familiar with the corporate finance literature, the first essay may also serve as a helpful introduction to the following three essays. / Diss. Stockholm : Handelshögsk.

本研究為釐清國內與國際非政府組織在臺灣發展關係，從環境與人權倡議議題為範圍討論，從臺灣目前進行環境與人權倡議工作的非政府組織中收集相關訊息，瞭解現今組織之間工作遇到的問題及困難，探討其發生的可能和原因，最後試圖提出研究建議與解決辦法。 奠基非政府組織在臺灣發展出的特殊性，伴隨著民主人權的發展，同時，臺灣環境議題倡議發展相較於其他亞洲國家也成熟許多，在現在全球化時代下的發展，國與國之間的界線也越來越模糊，網路科技的發明，使得交流不再如過去般受到諸多限制，因此也將各區域中相關的非政府組織連結，形成具有槓桿力量的跨國倡議網絡，企圖進而影響國家內部，促使政府能有所作為。 透過文獻分析及深度訪談瞭解組織倡議及發展，深入體會國際非政府組織在臺灣倡議遇到的困難，以及國內非政府組織面對這些問題的兩難，本研究結論，以跨國倡議網絡策略為主軸予以建議，非政府組織之間必須要有溝通的管道，避免資訊不對稱以及產生誤解，減少延誤倡議工作進行的最佳時機點，政府對於外國團體在臺灣人民團體法適應的問題及限制以及外國人在台工作的法規也應該有所彈性或裁量空間，才能開啟更多讓世界看見臺灣的可能性。 / The purpose of this thesis is to explore the relationship between local and international nongovernment organizations on human rights and environmental advocacy issues. To understand these problems and difficulties, research involved conducting in-depth interviews with workers of local and international nongovernment organizations. The purpose of the research is to find out the reasons to explain the problems of the relationship and know how to solve. The thesis concludes with suggestions about how to best develop the transnational advocacy network strategies of Taiwan in the future. As a nation without global recognition of its national status, Taiwan faces with the difficulty of participating international affairs. Through transnational advocacy network including the strategies of symbolic, information, leverage, accountability politics, these NGOs compel the government to make changes. As a result, Taiwan has a greater opportunity to be a contributor in global public affairs. The result of the research is to clarify the relationship, strengths, and weaknesses between local and international nongovernment organizations to cope with the challenges they experience with each other. In conclusion, there are four main suggestions below: 1) Make sure information is communicated across international and local advocacy. 2) Do the things right at the right time. 3) Make a big difference with leverage politics. 4) Focus on the importance of accountability and self-discipline when nongovernmental organizations face international affairs.

Women have been abused from the beginning of time and it would appear that a patriarchal system has facilitated this abuse. Churches, in general, and Seventh-Day Adventists, in particular, have been silent on the issue of Abuse. It is my thesis that a predominantly confessional Seventh-Day Adventist's view and use of Scripture are foundational to this silence on human rights issues. Adventist eschatology is predominantly apocalyptic in nature, focussing on end-time events, thus, the present is viewed secondary. Human rights issues are marginalised with the focus on evangelism. Thus, relationships are secondary and abused women have not been accommodated within the Seventh-Day Adventist framework of worship and caring. / M.Th. (Practical Theology)

Women have been abused from the beginning of time and it would appear that a patriarchal system has facilitated this abuse. Churches, in general, and Seventh-Day Adventists, in particular, have been silent on the issue of Abuse. It is my thesis that a predominantly confessional Seventh-Day Adventist's view and use of Scripture are foundational to this silence on human rights issues. Adventist eschatology is predominantly apocalyptic in nature, focussing on end-time events, thus, the present is viewed secondary. Human rights issues are marginalised with the focus on evangelism. Thus, relationships are secondary and abused women have not been accommodated within the Seventh-Day Adventist framework of worship and caring. / M.Th. (Practical Theology)