在這篇論文裡，我們主要在利用值分佈理論來探討兩個半純函數共三個值的基本性質以及在不同條件下的唯一性。 / In this thesis, we study the properties of two non-constant meromorphic functions sharing three values, and the uniqueness theorems under various conditions.

Magister Legum - LLM / If a company is harmed by the behaviour of a director as a result of financial misstatements, shareholders may suffer the economic consequences in the form of a diminution in the value of their shares. Failure on directorship level in these circumstances has on more than one occasion resulted in aggrieved shareholders seeking to recover damages suffered and losses incurred in terms of section 218(2) of the Companies Act 2008. This was the situation in the recent cases, Hlumisa Investment Holdings (RF) Limited v Kirkinis and in Itzikowitz v Absa Bank Limited. While I am unaware of any reported case arising from the much-publicised Steinhoff scandal, there appear to be moves in the direction of court action to recover pure economic loss. Steinhoff shareholders are seeking to hold the retail group‘s directors to account. Scandals like Steinhoff and African bank are disturbing because it points to a lack of clarity and certainty in South African company laws in respect of director‘s personal liability in these circumstances. It is for this reason that this study investigates whether shareholders can institute personal liability claims against directors for causing shareholders a diminution of the value of the shares in the company as a result of poor decision making on directorship level, since such a loss is merely reflective of the company‘s loss. Although, after Itzikowitz v Absa Bank Limited, the position seems to be settled in our law, we still have incidences where shareholders are seeking to hold directors personally liable for the diminution in share price under section 218(2) of the Companies Act 2008. It is for this reason that the study explores the scope of section 218(2) and investigates many related questions surrounding section 218(2), in light of directors‘ personal liability and shareholder protection.

Bakgrund: ESG är mer aktuellt än någonsin. Företag världen runt väljer att anpassa sin verksamhet till en mer hållbar inriktning. Inom ämnet råder det ingen konsensus om vilka effekter ESG har på finansiell prestation. Mot bakgrund av detta har författarna valt att studera om det finns ett samband mellan ESG och företags aktievärdering i form av PEtal. Syfte: Syftet med denna studie är att undersöka om det finns ett samband mellan företagens ESG rapportering och aktievärde för bolag noterade på Stockholm Nasdaq (Large cap). Metod: För att uppnå syftet med studien har en kvantitativ metod med deduktiv ansats tillämpats. Innehållsanalyser av företagens årsredovisningar har genomförts under år 2019 för att undersöka ett samband mellan ESG rapportering och PE-tal. Studiens urval består av bolag noterade på OMX Stockholm Large cap. För att undersöka sambandet har multipla regressioner tillämpats. Slutsats: Studiens resultat visar ej några signifikanta samband mellan PE-tal och omfattningen av rapporteringen av ESG. Studien drar slutsatsen att rapporteringen av ESG varken har en positiv eller negativ påverkan på företagens PE-tal. / Background: ESG is more relevant than ever before. Companies around the world choose to adapt their operations to a more sustainable focus. Within the subject, there is no consensus on what effects ESG has on financial performance. Against this background, the authors have chosen to study whether there is a connection between ESG and companies share valuation in the form of PE-ratio.  Purpose: The purpose of this study is to investigate whether there is a connection between companies ESG reporting and share value for companies listed on the Stockholm Nasdaq (Large cap).  Methodology: To achieve the purpose of the study, a quantitative method with a deductive approach has been applied. Content analyzes of the companies annual reports were carried out in 2019 to investigate a connection between ESG reporting and PE-ratio. The study sample consists of companies listed on the Stockholm Nasdaq (Large cap). To investigate the relationship, multiple regressions have been applied.  Conclusion: The results of the study do not show any significant correlations between PE-ratio and the extent of reporting of ESG. The study concludes that the reporting of ESG has neither a positive nor a negative impact on companies PE-ratios.

Submitted by Willian Almeida (wawalmeida@gmail.com) on 2013-08-16T22:22:06Z No. of bitstreams: 1 1.pdf: 1666543 bytes, checksum: 50d6dab4e478fd01f296b9c9787d54c1 (MD5) / Approved for entry into archive by Vitor Souza (vitor.souza@fgv.br) on 2013-08-22T13:48:36Z (GMT) No. of bitstreams: 1 1.pdf: 1666543 bytes, checksum: 50d6dab4e478fd01f296b9c9787d54c1 (MD5) / Made available in DSpace on 2013-08-22T13:50:03Z (GMT). No. of bitstreams: 1 1.pdf: 1666543 bytes, checksum: 50d6dab4e478fd01f296b9c9787d54c1 (MD5) Previous issue date: 2013-05-24 / This work aims to identify the relationship between R&D expenditure and prices per share of integrated oil and gas companies on the NY SE. Return of investiment on R&D spending can be seen when research results are applied to production processes, increasing operational efficiency, reduc ing costs and creating new products. This usage may be a channel to share pric e variations. Whereas spendings in R&D have a long term effect, the analisys includ ed contemporary, lagged and annual aggregate R&D expenditure data. Results poin t to a positive relation between R&D expenditure and share prices. Share price varia tions were better explained by lagged data, and the positive relation becomes stat istically significant when five-years aggregates are employed. This outcome confirms the long term effect of this type of expenditure. / Este trabalho tem objetivo de identificar a relação dos gastos em P&D com os preços das ações das empresas petrolíferas integradas negociadas na NYSE. O retorno do investimento em pesquisa e desenvolvimento ocorre quando o resultado da pesquisa é aplicado aos processos produtivos, gerando assim eficiência operacional, diminuição de custos e novos produtos. Este fato pode ser considerado um canal que influencia o valor da ação. Considerando que o P&D é um investimento de longo prazo, o P&D contemporâneo, suas defasagens e o acumulado anual foram analisados. Os resultados apontaram uma relação positiva entre os gastos em P&D e o valor das ações. Em relação às defasagens, foi identificado que o valor das ações é melhor explicado quando as defasagens do P&D são utilizadas. Além disso, a relação positiva tornou-se estatisticamente significante quando os gastos de cinco anos acumulados foram utilizados. Isto confirma o caráter de longo prazo deste tipo de gasto.

Objective: The study will investigate whether cash liquidity have a negative affect on profitability and share value of companies, listed on Nasdaq OMX Stockholm 2008-2011. Part of the purpose is also to show if the industry risk is of importance for treasury management of these companies. Method: The methodology for the study is key analysis through hypothesis testing and regression analysis Conclusion: The liquidity ratio affects profitability in a negative direction on the entire sample. No other conclusion can be drawn. / Syfte: Studiens syfte är att undersöka om kassalikviditeten har en negativ påverkan på lönsamhet och aktievärde, hos företag noterade på Nasdaq OMX Nordic Stockholm mellan åren 2008 till 2011. Delsyftet är att undersöka om branschrisken har ett positivt samband med kassalikviditeten för dessa företag. Metod: Metoden för studien är nyckeltalsanalys med hjälp av hypotesprövning och regressionsanalys, för företag på Nasdaq OMX Nordic Stockholm. Slutsats: Kassalikviditeten påverkar lönsamheten i negativ riktning på hela urvalet. Inga andra slutsatser kan dras.

Master’s thesis deals with fundamental equity analysis with focus on to make the best investment in the chosen field into the selected equity companies.

The diploma thesis is dealing with a fundamental analysis. The first part of diploma thesis presents the methods and procedures of analysis. It evaluates their advantages and disadvantages. The practical part of diploma thesis is dealing with an application of fundamental analysis in assessment of financial position of concrete joint stock company ČEZ. The top of my survey is estimated a formulation of instrinsinic share value and a recommendation for shares of ČEZ.

Master´s thesis deals with the fundamental stock analysis of Philip Morris CR. The theoretical part describes the methods and procedures of fundamental analysis. In the practical part of the work a fundamental analysis on a global, sectoral and company level is performed. Outcome of this work is an investment recommendation based on the comparison of an observed intrinsic value of a stock with current market price.

The aim of this diploma thesis is a fundamental analysis of selected joint-stock companies of the Czech stock market for the purpose of selecting advantageous investment opportunities. The theoretical part of the thesis summarizes the most common knowledge of investing and methods of fundamental analysis. In the practical part, these findings applied to the analysis by Fortuna Entertainment Group, Pegas Nonwovens AG, ČEZ and Philip Morris CR. The investment recommendation is proposed in the basis of the comparision of the results gathered by the analysis.

The Paper is focused on company shares value and manipulation with their course on capital market. Theoretical part describes Fundamentals and technical analysis, which are used for identifying share inner value a expected trend in course. Consequently are described forbidden market practices and transactions on capital market according to new legal regulation. Analytic part contains analysis, which identifies inner value of company shares and predicts trend in course. Following analysis are setting measures, which enables company management to realize appreciation of company shares, without making offend against legal regulations of securities course manipulation. Summary contains recommendations and findings, which can be generally used for improving companies positions on capital markets.