1 Legal and property situation of a state enterprise Abstract This thesis focuses on the evaluation of the current legislation of a state-owned enterprise in the Czech Republic, especially in the light of the last amendment of the State-owned Enterprise Act, which is effective from 1st January 2017. The aim of this diploma thesis is to describe the valid legislation and also to evaluate the context with other legal regulations and finally to consider the need to preserve the unique legal form of the state-owned enterprise for the future. This diploma thesis is divided into the five chapters. The first chapter contains the brief characteristics of a state-owned enterprise and the definition of the basic concepts. The second chapter describes the historical development of the legal regulations of enterprises managing the state property from the establishment of Czechoslovakia until the year 1997, since when is effective the current State-owned enterprise Act. The third chapter, in four subchapters, analyzes the valid and effective legal regulations of the state-owned enterprise. The first subchapter is devoted to the company bodies of state-owned enterprises, the second to the subject of business and a purpose for which are the state-owned enterprises formed. The third subchapter is devoted to the...

abstract: Based on multiple case studies of the transactions in China by private equity funds, this paper attempts to explore the value-creation capabilities of private equity funds at the transaction/deal level. Previous studies on financial performance of PE funds utilized data collected from publically traded companies in European/US markets. By measuring financial performance of both “pre- and post-transactions,” these studies researched two questions: 1) Do buyout funds create value? 2) If they do, what are the sources of value creation? In general, studies conclude that private equity/buyout funds do create value at both the deal level and investor level. They also identified four possible sources of such value creation: 1) undervaluation, 2) leverage effect, 3) better governance, and 4) operational improvement. However, relatively little is known about the process of value creation. In this study, I attempt to fill that gap, revealing the “secret recipe” of value creation. By carefully looking into the process of value creation, this study suggests five propositions covering capabilities at 1) deal selection/screening, 2) deal structuring, 3) operational improvement, 4) investment exit, and 5) Top Management Team (TMT). These capabilities at private equity/buyout funds are critical factors for value creation. In a thorough review of the value-creation process, this paper hopes to: 1) Share real-life experiences and lessons learned on private equity transactions in China as a developing economy. 2) Reveal the process of deal/transaction to observe measures taken place within deal/transaction for value creation. 3) Show how well-executed strategies and capabilities in deal selection/screening, deal structuring, operational improvement, and investment exit can still create value for private equity firms without financial leverage. 4) Share the experience of State-Owned Enterprises (SOE) reform participated in by private equity firms in China. This could provide valuable information for policy makers in China. / Dissertation/Thesis / Doctoral Dissertation Business Administration 2016

No description available.

The necessity of seeking for the balance of public accounts has fostered administrative, social welfare and tributary reorganization, aiming at improving efficiency in public administration. In order to achieve an efficient administrative pattern, it is necessary to follow and measure costs thus generating information which subsidizes the reliable planning of a budget, in both direct and indirect public administration and also in organizations which have government participation in the control of shares, i.e., State owned enterprises. The Service, Technology and Research Company EPTS of the Universidade de Taubaté, a state owned enterprise based on the legislation of private enterprises, and with a revenue receipt resulting mainly from services performed to the Universidade de Taubaté (UNITAU), municipal autarchy, needs to meet efficiency and efficacy expectations in order to justify its foundation. Every year the budget of EPTS increases due to the rise in products requested by UNITAU, such as new researches and investments, resulting from new and diversified academic courses and also by the maintenance of the whole organizational structure. This work aims at analyzing and demonstrating the need for elaborating and implementing a Financial Planning System in the EPTS, similar to those used within private enterprises. The model proposed has as its basis the use of economic-financial indexes, which will allow the company to define future activities and provide administrators with all essential information they need in order to make financially effective decisions. / A necessidade de buscar o equilíbrio das contas públicas provocou reformas administrativas, previdenciárias e tributárias, com a intenção de aumentar a eficiência na gestão pública. Para se obter um modelo de gestão eficiente, é necessário acompanhar e mensurar os custos de forma a possibilitar informações que subsidiem o planejamento seguro de um orçamento, seja na administração pública direta, seja na indireta e entidades parestatais, no caso, empresas públicas. A Empresa de Pesquisa, Tecnologia e Serviços da Universidade de Taubaté, empresa pública de direito privado conforme legislação pertinente, e com receita advinda em sua maioria de produtos gerenciados para a Universidade de Taubaté, autarquia municipal, necessita atender às expectativas de eficiência e eficácia para justificar a sua criação. A cada ano, o orçamento da Empresa de Pesquisa, Tecnologia e Serviços da Universidade de Taubaté (EPTS) é incrementado pelo aumento de produtos requisitados pela Universidade de Taubaté (UNITAU), por novas pesquisas, novos investimentos, decorrentes de novos e diversificados espaços acadêmicos, e pela manutenção de toda a estrutura organizacional. Este trabalho objetiva analisar e demonstrar a necessidade de elaboração e implantação, na EPTS, de um sistema de Planejamento Financeiro similar aos utilizados em empresas privadas. O modelo sugerido tem como base a utilização de índices econômico-financeiros que permitirão à empresa definir as atividades futuras e fornecer aos gestores as informações imprescindíveis para tomada de decisões eficientes financeiramente.

Capital budgeting is one of the most crucial organisational tools for executing operational, business and corporate strategy. Manufacturing companies derive their profits from fixed assets that also deteriorate over time. This requires them to invest large amounts of capital to both maintain and expand their asset base. A number of studies both historic and recent produce conflicting results on the relationship between capital budgeting practices and financial performance.This study sets out to identify the current capital budgeting practices in the manufacturing/capital intensive companies operating in the South African environment, and determine the relationship between the financial performance and capital budgeting practices. The implications of the type of capital expenditure (i.e. maintenance and expansionary) are also discussed.The study was completed using primary and secondary data. Primary data consisted of capital budgeting practices data in some of the private and state-owned enterprises that was source using a survey questionnaire. The secondary data was sourced from financial statements on the McGregor BFA® database.The major finding of this research study was that, given the sufficient sub-sector analysis, there is a positive relationship between capital budgeting practices and financial performance. There were no specific individual practices that yielded significantly returns. / Dissertation (MBA)--University of Pretoria, 2012. / Gordon Institute of Business Science (GIBS) / unrestricted

This study explores the potential of transdisciplinary climate fiction prototyping to create a transformative space within state-owned enterprise governance. The approach includes a thematic analysis of governance documents within the portfolio, scenario development, narrative design, participatory sessions with the department of state-owned enterprise, related ministries, and company representatives. The narrative design climate fiction, henceforth Cli-Fi, is used to highlight complexity and create an affectual relationship with the future. The main finding is uncovering a systemic closure constituted by risk aversion that locks in transformative potential of state-owned enterprise governance. The four Cli-Fi prototypes are thus built on narratives driven by different risk behavior that hinder or enable change for sustainability, and are called The Dutiful Widower, The Future Proofers, Winning Vincent, and The Untrusted Trustee. The study concludes that transdisciplinary Cli-Fi prototyping can, and perhaps should, be leveraged to create transformative spaces within organizations and to identify closures and openings for sustainable development.

This study sought to examine strategic entrepreneurship and issues surrounding this type of activity in a public sector context. The concept of strategic entrepreneurship has received increasing attention in recent years; however, limited studies have focused on strategic entrepreneurship as a distinct construct in public sector context. Consequently, the objective of this study was to address the question of “What is the nature and scope of strategic entrepreneurship in the context of South Africa’s SOEs” through examination of theory and practice. The research question is addressed by first developing a revised framework of strategic entrepreneurship from literature on entrepreneurship, strategy, and public sector context. This revised framework is then examined on activity which is entrepreneurial and strategic within four SOEs operating South Africa as at 2011. Transcripts from a series of interviews, and publicly available documents are analysed thematically. The study identified additional supporting and external factors of strategic entrepreneurship which form a revised conceptual framework of strategic entrepreneurship. The study showed core, supporting, and the external environment elements of strategic entrepreneurship contribute to the increased level of entrepreneurial activity in the public sector context, in particular state-owned enterprises. / Dissertation (MBA)--University of Pretoria, 2011. / Gordon Institute of Business Science (GIBS) / unrestricted

京都大学 / 0048 / 新制・課程博士 / 博士(経済学) / 甲第20652号 / 経博第552号 / 新制||経||282(附属図書館) / 京都大学大学院経済学研究科経済学専攻 / (主査)教授 黒澤 隆文, 教授 渡辺 純子, 准教授 COLPAN Meziyet Asli / 学位規則第4条第1項該当 / Doctor of Economics / Kyoto University / DFAM

This thesis uses data from the China Health and Nutrition Survey (CHNS) from 1991 to 2004 to estimate the short-term effects of parental unemployment on children's health through exogenous shocks from state-owned enterprise reforms at the end of the last century by employing fixed effects and instrumental variables methods. Findings show that parental unemployment decreases children's weight z-scores and reduces the frequency with which children have been ill or hurt in the past month. It also significantly affects children's nutrient intake over the past three days, particularly evident in low-income families and adolescent groups.

This thesis examines China's state-owned enterprise reform and financial reform in the last two decades. I characterize the progress of China's state-owned enterprises reform in two areas: privatization of small SOEs and mass layoffs. I argue that privatization rests on the political economy of China. I also discuss the evolution of the financial system and come up with some strategies of financial liberalization in China. Result from this study suggests that if the necessary reforms of the financial sector and state enterprises are effectively carried out, inevitably this will lead to a significantly slower rate of growth for a period of time. However, these reforms will provide the basis for a period of sustained growth in the long run.