Submitted by Cristiane Shirayama (cristiane.shirayama@fgv.br) on 2011-06-03T16:54:39Z No. of bitstreams: 1 66080100253.pdf: 329789 bytes, checksum: c3439e3a0ed91b11125a608ae7104c30 (MD5) / Approved for entry into archive by Vera Lúcia Mourão(vera.mourao@fgv.br) on 2011-06-03T16:58:22Z (GMT) No. of bitstreams: 1 66080100253.pdf: 329789 bytes, checksum: c3439e3a0ed91b11125a608ae7104c30 (MD5) / Approved for entry into archive by Suzinei Teles Garcia Garcia(suzinei.garcia@fgv.br) on 2011-06-03T17:02:51Z (GMT) No. of bitstreams: 1 66080100253.pdf: 329789 bytes, checksum: c3439e3a0ed91b11125a608ae7104c30 (MD5) / Made available in DSpace on 2011-06-03T18:11:30Z (GMT). No. of bitstreams: 1 66080100253.pdf: 329789 bytes, checksum: c3439e3a0ed91b11125a608ae7104c30 (MD5) Previous issue date: 2011-08-08 / This study aims to examine empirically some of the main characteristics of securitization structures in the Brazilian market. Based on the Gorton and Souleles (2005) article and analyzing characteristics of companies that use securitization in Brazil, we test whether firms with higher credit risk tend to securitize more and, assessing the characteristics that make these structures feasible, if there is evidence of an implicit contract between the sponsor companies and investors. The database used in the empirical tests was built using 59 FIDCs emissions recorded from January 2005 through July 2010 and a base with the accounting data from 86 banks in 8 semesters. The methods used in the empirical tests were panel data regressions including estimators for fixed and random effects. In the empirical tests we have found evidence that the rating of the sponsor companies has influence in the spread charged in FIDCs, which can be understood as a evidence of the existence of an implied contract. We also find evidence, albeit less convincingly, that companies with worse ratings securitize more. These results are aligned with those found in the paper by Gorton and Souleles (2005). / Este trabalho tem por objetivo analisar algumas das características principais das estruturas de securitização no mercado brasileiro. Utilizando como principal referência o artigo de Gorton e Souleles (2005) e, através da análise das características das empresas que utilizam securitização no Brasil, testamos se empresas com maior risco de crédito tendem a securitizar mais. Avaliando as características que fazem com que tais estruturas sejam viáveis, testamos também se há evidências de um contrato implícito entre as empresas cedentes e os investidores. Na base de dados utilizada para os testes foram consideradas 59 emissões de FIDCs registradas de janeiro de 2005 a julho de 2010 e uma base com dados contábeis de 86 bancos em 8 semestres. Devido à estrutura dos dados, foram utilizados métodos para regressão com dados em painel utilizando estimadores para efeitos fixos e aleatórios. Nos testes empíricos foram encontradas evidências de que o rating das empresas cedentes influencia o spread cobrado nos FIDCs, o que pode ser entendido como uma forma de evidenciação da existência de um contrato implícito. Também evidenciamos, embora de forma menos contundente, que empresas com piores ratings securitizam mais.Tais resultados mostram-se alinhados com os encontrados no artigo de Gorton e Souleles (2005) .

The colonial formation and imagination of the Canadian nation and its citizenry has historically been rooted in processes of racial inclusion and exclusion. This thesis considers the ways in which the historical exclusionary process of citizenship manifests within today’s “War on Terror” through the language of national security. The analysis focuses on the discourses of two former Conservative bills: Bill C-24 – Strengthening the Canadian Citizenship Act and Bill C-51 – Anti-terrorism Act. Mobilized through a critical race perspective, my thesis documents first, the narratives that are told, and second, the discursive strategies that are used, to construct those deserving and undeserving of inclusion. My findings demonstrate that the ideal nation and its ideal citizens, who are deserving of inclusion within the nation, are fundamentally constructed in Whiteness. Meanwhile, the threatening ‘Other’, who is to be excluded and expelled from the nation, is imagined as a racialized Muslim, Arab and brown terrorist in the “War on Terror”. By examining their respective parliamentary debates, my research reveals how the political discourses utilized in both bills uphold the racial exclusionary mechanisms of citizenship. As such, my research speaks to the evolving relationship between citizenship, national security, surveillance, and securitization by demonstrating how citizenship is used as a tool within the broader security regime of the state to fight the “War on Terror”.

Drawing on a theoretical framework based on securitization and threat construction, the attempt in this study was to broaden the understanding of how the perception of a Russian threat in the Baltic Sea is influencing Swedish defence and security policy. The method used was based on Bacchis WPR-approach. Three questions were asked at the beginning of this study, regardning how Russia is viewed in Sweden, how the representation of Russia has changed from the war in Georgia in 2008 until 2018, as well as how Sweden is to strengthen it's defence capacity, nationally and through cooperation, to tacle the Russian threat. Four key aspects of Russian behaviour that is considered threatening were identified. Russia is viewed as a country with power ambitions and expansionist tendencies; characterised as tactically unpredictable; looked upon as a risk calculating actor; and considered misstrusting in its views of the West. The perception of Russia is complex which creates difficulties regarding how the threat is to be met. Policy makers have urged the strengthening of Swedish national defence capacity to create a conflict threshold in the region. To further strengthen this threshold, the bilateral defence cooperation with Finland has deepened. In addition, the question of military non-alignment has been raised in relation to a possible Swedish membership in Nato. The answer to whether or not Sweden should join depends on political affiliation. This underlines the theoretical assumptions; security and defence policy is not merely a response to an external circumstance, but rather the result of an interplay between circumstance and actor.

Cette thèse de Doctorat représente une première évaluation empirique des implications de l’interaction entre la compétition bancaire et la titrisation des crédits sur l’efficience, le risque, et la structure du capital des banques commerciales Américaines. Précisément, l’objectif principal de cette thèse de Doctorat est de répondre aux questions suivantes : 1) Quel est l’impact de la compétition et de la titrisation, séparément et conjointement, sur l’efficience bancaire ? 2) La titrisation réduit-elle le risque bancaire sous la pression de la compétition bancaire ? 3) Quelles sont les implications de l’interaction entre la compétition bancaire et la titrisation sur la structure du capital des banques commerciales Américaines ? Le développement de ces questions est motivé par la croissance rapide de la titrisation, par l’évolution de la compétition bancaire à travers diverses réglementations bancaires Américaines, par le débat en cours entre les partisans et les opposants à la compétition et la titrisation, et par le caractère novateur de ces sujets. Après la mise en œuvre de la méthode de score de propension, le premier chapitre suggère que la titrisation augmente significativement l’efficience bancaire mesurée par la méthode de frontières stochastiques (SFA). Cet effet positif est plus prononcé au sein des marchés bancaires compétitifs. Dans le deuxième chapitre, nous utilisons un modèle à effets fixes à partir duquel nous démontrons que la titrisation semble avoir un effet négatif sur le risque bancaire, particulièrement et de manière surprenante lors de la crise financière récente, mais uniquement si les banques titrisent fortement les crédits dans des marchés bancaires compétitifs. Le troisième chapitre démontre que la compétition bancaire pourrait être considérée comme un canal qui explique comment la titrisation influence, d’une manière significative, la structure du capital des banques commerciales Américaines. Nos enquêtes plus approfondies, introduites par la régression quantile, indiquent que les banques légèrement capitalisées, qui titrisent largement des crédits dans les marchés compétitifs, ont augmenté leurs divers ratios de capital, tandis qu’une réduction dans ces derniers est signalée pour les banques fortement capitalisées. En plus d’apporter des contributions empiriques, opérationnelles, managériales et politiques, cette thèse de Doctorat souligne l’importance d’établir une réglementation bancaire prudente sur la titrisation prenant en compte les réponses hétérogènes de la capitalisation bancaire, les différentes réactions des divers crédits titrisés, ainsi que l’effet extrêmement significatif de la structure du marché bancaire Américain. / This PhD dissertation represents a first empirical assessment of the implications of the interaction between banking competition and securitization on efficiency, risk, and capital structure of US commercial banks United States. Precisely, the main objective of this PhD dissertation is to answer the following questions: 1) What is the impact of competition and securitization, separately and jointly, on bank efficiency? 2) Does securitization reduce bank risk under competitive pressure? 3) What are the implications of the interaction between competition and securitization on bank capital structure? The development of these questions is motivated by the rapid growth of securitization, the evolution of bank competition through various US bank regulations, the ongoing debate between proponents and criticizers of competition and securitization; and the novelty of these topics among academics and practitioners. After implementing a propensity score matching technique, the first chapter suggests that securitization significantly increases bank efficiency as measured by the Stochastic Frontier Approach (SFA). This positive impact appears to be more pronounced in competitive banking markets. In the second chapter, we use fixed-effects model through which securitization is found to have a negative impact on bank risk, particularly and surprisingly during the recent financial crisis, but only if banks highly securitize loans in competitive markets. The third chapter argues that banking competition could be considered a channel that explains how securitization significantly influences US commercial banks’ capital structure. Specifically, deeper investigations, introduced by the quantile regression, show that less-capitalized banks that highly securitize loans in competitive markets are more likely to increase their overall capital ratios, whereas a decrease in these ratios is reported for highly-capitalized banks. Providing several empirical and operational contributions as well as important managerial implications and policy recommendations, this PhD dissertation emphasizes the importance of considering a careful banking regulation on securitization that takes into account the heterogeneous responses of bank capitalization, the different reactions of various securitized loans, and the overall significant effect of US banking market structure.

This thesis studies the positions of the political groups in the European Parliament by examining the debates, focusing on the question of migration and more specifically on the policy of relocation of migrants. With the increasing number of people migrating into Europe, migration is an important question to study in the context of the European Union. The European Parliament consists of 200 different national parties composed in eight different political groups trying to agree upon common policies for legislation, which makes the political battle taken place in the Parliament even more interesting.    This thesis seeks to describe the positions of the groups within the Parliament by using dimensions and categories of state security vs. human security and EU-integration vs. state sovereignty. The study finds that a majority of the party groups in the Parliament emphasises further integration, however there is a more evident difference between seeing the issue of migration as a state security or a human security matter between the political groups. These findings are interesting, demonstrating that even in a sensitive issue as migration, related to states’ sovereignty, a majority seems to emphasise cooperation between states, indicating that further cooperation may be taken in other policy areas as well.    Key words: European Union, European Parliament, European integration, Migration, Security, Securitization, Human security, Human rights, State sovereignty, Dimension analysis.

Submitted by Elesbão Santiago Neto (neto10uepb@cche.uepb.edu.br) on 2018-04-17T17:34:39Z No. of bitstreams: 1 PDF - Pedro Henrique Oliveira Frazão.pdf: 48458154 bytes, checksum: bfeab5c13f03bd3b57617d633439cb1e (MD5) / Made available in DSpace on 2018-04-17T17:34:39Z (GMT). No. of bitstreams: 1 PDF - Pedro Henrique Oliveira Frazão.pdf: 48458154 bytes, checksum: bfeab5c13f03bd3b57617d633439cb1e (MD5) Previous issue date: 2016-05-19 / CAPES / The increasing use of cyberspace in International Relations is providing a new scenario for world politics. The evolution of digital media has provided a data flow never before seen in human history, which eventually expanded the role of information as a bargaining chip in the power relations of the current international scenario. One of the changes observed from this process was the strengthening of surveillance – which gains new tools in the cyber environment – as a mechanism of monitoring, law enforcement, control and acquisition of information that makes international actors relevant in the new cyberpower relations. Thus, this dissertation analyzes this phenomenon from two main lines that complement each other: the evolution of surveillance as a key dimension of (cyber)security through a panoptic and post-panoptic approach and how these perspectives influence the current cyber surveillance phenomena. To do so, we present Foucault's studies of disciplinary society and its developments that have given rise to an information society of control, and Bauman’s analysis on liquid modernity and how its characteristics can influence contemporary surveillance. The second line of analysis, drawn from the data collected so far, deals with a vision of cyber surveillance as a tool of cyberspace securitization process. Following this logic, studies of the Copenhagen School, based on the constructivist theory of International Relations, point out a favorable path to understanding the role of cyber surveillance within the cybersecurity issues. As an example case, we examine how this process took place within NSA programs of global surveillance revealed in mid-2013 by Edward Snowden. In order to achieve these objectives, classical authors of surveillance and security studies will be reviewed, as well as new approaches; for the presentation and analysis of the proposed case, documentary analysis, reports and speeches relating to international responses in the face of revelations of the NSA programs will be used. / O crescente uso do ciberespaço nas Relações Internacionais vem propiciando um novo cenário para a política mundial. A evolução dos meios digitais proporcionou um fluxo de dados nunca antes visto na história da humanidade, o que acabou ampliando o papel da informação enquanto moeda de troca nas relações de poder do cenário internacional atual. Uma das transformações observadas a partir deste processo foi o fortalecimento da vigilância – que ganha novas ferramentas no ambiente cibernético – enquanto mecanismo de monitoramento, manutenção da ordem, controle e aquisição de informações que tornem os atores internacionais relevantes nas novas relações de poder cibernéticas. Sendo assim, a presente dissertação analisa este fenômeno a partir de duas linhas principais que se complementam: a evolução da vigilância enquanto dimensão-chave da (ciber)segurança, através de uma abordagem panóptica e pós-panóptica e como estas perspectivas influenciam nos fenômenos atuais de vigilância cibernética. Para tanto, apresentam-se os estudos de Foucault acerca da sociedade disciplinar e os seus desdobramentos que deram lugar a uma sociedade de controle informacional, e as análises de Bauman sobre a modernidade líquida e como tais características podem influenciar a vigilância contemporânea. A segunda linha de análise, elaborada a partir dos dados levantados até então, aborda uma visão da vigilância cibernética enquanto ferramenta do processo de securitização do ciberespaço. Seguindo esta lógica, os estudos da Escola de Copenhague, baseados na teoria construtivista das Relações Internacionais, apontam um caminho propício para a compreensão do papel da vigilância cibernética dentro das questões de cibersegurança. Como exemplo de caso, examina-se como esse processo se deu dentro dos programas de vigilância global da NSA, revelados em meados de 2013 por Edward Snowden. A fim de alcançar tais objetivos, serão revisados autores clássicos dos estudos de vigilância e segurança, bem como novas abordagens; para a apresentação e análise do caso proposto, serão utilizados análises documentais, reportagens e discursos referentes às respostas internacionais em face das revelações dos programas da NSA.

A securitização de recebíveis é uma modalidade de estruturação financeira que permite à empresa originadora de créditos o acesso direto ao mercado de capitais, constituindo-se em importante ferramenta para a desintermediação financeira. Basicamente, esta modalidade consiste na cessão dos créditos a uma companhia constituída especificamente para este fim e a emissão de títulos, por esta última, lastreados nos créditos adquiridos. O investidor em um título securitizado se beneficia porque não corre o risco da empresa originadora dos créditos, e sim o risco diversificado dos recebíveis que lastreiam o título. No Brasil, a securitização se desenvolveu na forma dos fundos de investimento em direitos creditórios os FIDCs , que captam emitindo cotas seniores e cotas subordinadas. Este trabalho investiga as técnicas relacionadas à securitização, as práticas do mercado de capitais, os benefícios desta modalidade de estruturação financeira, e avalia os riscos dos FIDCs para o investidor em cotas sênior e para o originador que, normalmente, adquire as cotas subordinadas. São apresentadas também as normas estabelecidas pelas autoridades monetárias visando fazer frente aos riscos inerentes à securitização, uma vez que esta forma de estruturação é largamente empregada por instituições financeiras; e avaliado se estas normas estão adequadas para seu propósito. / The securitization is a type of structure finance which allows a company capable of originate receivables to access the capital market, and so, contributing to the financial disintermediation. Basically, the securitization consists in selling credits for a special purpose vehicle, responsible for issuing securities collateralized by those receivables. The investor in a securitized obligation has the benefit of avoiding the risks coming from the credit originator, but the diversified risk from its collateral. In Brazil, the securitization took the form of mutual funds the FIDC, which borrow funds by issuing senior and subordinated cotes. This study investigates the securitization techniques, the capital market practices, the benefits of this structure finance model and, in the case of a FIDC, the risks arising from senior and subordinated cotes. The rules established by the monetary authorities focusing the risks inherent of the securitization process are also presented, considering the fact this structure is largely used by financial institutions; additionally, the adequacy of those rules are evaluated.

A presente tese apresenta três artigos que demonstram através do histórico da segurança humana sua compreensão em de três pontos de vista: histórico, conceito e ferramenta de política externa. O primeiro artigo busca evidenciar que existe baixo nível de debate, diálogo e contribuição entre a agenda de desenvolvimento e segurança na construção da abordagem da segurança humana através do Relatório de Desenvolvimento Humano (RDH) do Programa de Desenvolvimento das Nações Unidas (PNUD) de 1994 e do Relatório da Comissão Internacional sobre Intervenção e Soberania Estatal (CIISE) de 2001. Enquanto o segundo artigo realiza uma análise comparativa da segurança humana e da securitização à fim de demonstrar as diferenças e especificidades de ambos e procura demonstrar que apesar de existirem semelhanças entre os termos, e uma certa complementariedade, eles não são substituíveis. Já o terceiro aborda como e para quais interesses potências médias usam a segurança humana, através dos estudos de caso do Japão e Canadá a fim de demonstrar que estes beneficiam interesses próprios. / The present thesis presents three papers that displays through the history of human security its comprehension from three points of view: history, concept and foreign policy tool. The first paper seeks to demonstrate that there is a low level of debate, dialogue and contribution between the development and security agenda in the construction of the human security approach through the Human Development Report (HDR) of the United Nations Development Program (UNDP) from 1994 and the International Commission on Intervention and State Sovereignty (ICISS) from 2001. While the second seeks to comparatively analyze human security and securitization to indicate differences and similarities and seeking to demonstrate that despite the similarities between the terms, and a certain complementarity, they are not replaceable. And lastly, the third one approaches how and to serve which interests middle powers use human security, through the case studies of Japan and Canada seeking to show rather they beneficiate self-interest.

The aim of this dissertation is to examine the process of securitization of terrorism, to develop the role of the audience (public) at the individual level and subsequently to provide recommendations on an alternative way of fighting terrorism. In order to achieve this goal, the author uses socially constructivist securitization theory, critical terrorism studies and political psychology, namely cognitive and social psychology. Throughout the chapters, the securitization process of terrorism is explored; terrorism as a (to a certain extent) objective problem, further, from the point of view of critical terrorism studies, the security measures are assessed and public opinion is examined through public opinion polls. The author comes to the conclusion that public opinion is one of the key factors in implementing extensive security measures. Therefore, she further examines the factors that affect public opinion; the narrative, the role of the media, and ultimately the psychological processes influencing the perception of reality. It turns out that the narrative about terrorism and the media have their share in the public reaction to terrorism, but the role of the audience in the securitization process of terrorism is not fully explained and there are the psychological processes that illuminate it. Therefore, by running an experiment, the author examines the effect of three narratives about terrorism, based on psychological theories. It concludes that there is a potential for reducing the public's fears and thus the alternative fight against terrorism.

This paper presents the results of a critical discourse analysis of a selection of Canada’s security texts and argues that the country’s security discourses construct Muslims as dangerous and different from the normative Canadian. The research relies on a social constructionist understanding of discourse and the recognition that our state’s representatives and agents, operating from positions of discursive power, wield disproportionate influence in directing the national conversation and managing the signals that shape our social attitudes and imaginaries. By persistently qualifying terrorism with Islam, portraying the terrorist figure as a religiously and ideologically-motivated actor opposed to ‘Western values’ and by casting suspicion on the ordinary behaviour of Muslims, Canada’s security discourses produce a mental model in which Islam and its followers are associated with a propensity for terrorist violence. The discourses also naturalize the idea that Muslims are in need of surveillance, not only by the state’s agents, but by the public itself. When examined alongside a body of research illustrating Canada’s ‘visible minority’ population continues to be negatively affected by dominant group discrimination, the results of the study raise questions about the culpability of state representatives in the reproduction of ideas of difference which continue to inform the country’s social imaginary and hinder the equality and inclusivity of minority groups within the national collective.