No abstract available / Dissertation (MCom)--University of Pretoria, 2012. / Financial Management / unrestricted

Die vorliegende Arbeit enthält eine statistische Analyse der Gesamtheit öffentlicher Unternehmen in Deutschland und ihrer wirtschaftlichen Lage. Für diese Untersuchung stand eine Datenbank für etwa 9000 öffentliche Unternehmen mit knapp 500 Merkmalen zur Verfügung, die im Wesentlichen den Posten der Jahresabschlüsse und verschiedenen Identifikationsmerkmalen (wie u. a. Unternehmenssitz, Wirtschaftszweig und Rechtsform) entsprechen. Die Analyse umfasst den Zeitraum von 1998 bis 2006. Die extrem umfangreiche Datengrundlage – Jahresabschlussstatistiken öffentlicher Unternehmen – ist für einen Statistiker eine große Versuchung. In der Arbeit wurden Methoden der beschreibenden Statistik und der Jahresabschlussanalyse mit Bilanzkennzahlen angewandt. Vor allem in den letzten zwanzig Jahren wurde die Entwicklung der Gesamtheit öffentlicher Unternehmen durch Wandelprozesse geprägt und von Diskussionen über ihre Leistungsfähigkeit begleitet. Die Dynamik der Gesamtheit öffentlicher Unternehmen zeigt sich v. a. an der Vielfalt ihrer Aufgabenbereiche und Organisationsformen. Daher wurde in dieser Arbeit versucht, zunächst eine Bestandsaufnahme des öffentlichen Unternehmensbereichs durchzuführen. Ein weiteres Ziel war die Beschreibung der Wirtschaftslage öffentlicher Unternehmen im letzten Jahrzehnt, wobei ihre Leistungsfähigkeit in den Vordergrund gestellt wird. Die Leistungsfähigkeit öffentlicher Unternehmen nur über die betriebswirtschaftliche Effizienz zu messen, ist gewiss einseitig und nicht ausreichend. Diese ließ sich aber im Vergleich zur volkswirtschaftlichen oder sozialen Effizienz leichter operationalisieren: Die betriebswirtschaftlichen Effizienzkriterien können gut aus den Jahresabschlüssen abgeleitet werden. Dadurch wird auch ein Vergleich mit privaten Unternehmen in gewissen Grenzen möglich. Die Beschreibung der Wirtschaftslage öffentlicher Unternehmen wurde als Analyse ihrer einzelnen Teillagen (Vermögens-, Finanz- und Ertragslage) strukturiert. Insgesamt unterstreicht die Analyse der Teillagen die enge Verflechtung zwischen öffentlichen Unternehmen und öffentlichen Haushalten. Die vorliegende Untersuchung soll die Forschung auf dem Gebiet der datengetriebenen Statistik, die im Universitätsbereich in letzten Jahren im Vergleich zur modellgetriebenen Statistik oft vernachlässigt wurde, ausweiten. / This monograph deals with state-owned companies in Germany. The study focuses on a statistical analysis of all state-owned companies in Germany and their economic situation. Approximately 9,000 state-owned companies, with nearly 500 characteristical items surveyed for every company, comprise the database for this statistical analysis. The elements examined are firstly the entries of the annual balance sheets. In addition, there are the identifying characteristics, such as the type of industry, the legal form, or the operating location, in the databank. The analysis covers the period from 1998 to 2007. It’s very tantalizing for a statistician to work with the statistics of the annual balance sheets of the state-owned companies in Germany because of the large volumes of data. Both the methods of the descriptive statistics and the financial statement analysis with the balance sheet ratios were applied in this study. Especially over the last twenty years, the changes in the economic sector have led to discussions about the potential performance of the companies. The population dynamics of the state-owned enterprises are seen in the variety of the types of their activities and services and new legal forms. Therefore, the first goal of this analysis was to take an inventory of the German state-owned companies. The second goal of this work was to describe the economic situation of the state-owned companies in the last decade, with the emphasis on their performance. To measure the performance of the state-owned companies using only the economic efficiency as criterion is insufficient. However, the economic efficiency is easy to operationalise compared to, for example, social efficiency, because the ratios of the economic efficiency can be easily derived from the annual balance sheets of the companies. Besides that, using the ratios of the economic efficiency makes the comparison between the state-owned companies and the private ones easier. The description of the economic situation of the state-owned companies is based on the analysis of their assets, as well as their financial and earning positions. Altogether, the analysis of different positions emphasized the interdependence between the state-owned companies and their owners (regional authorities). From the methodological point of view, this study tried to extend research in the field of the data-driven statistics, which has been a neglected topic at universities in the last years when compared to model-driven statistics.

Bakgrund Under senare år har diskussionen om företags miljöpåverkan och sociala ansvar trappats upp. Den svenska regeringen har vid två tillfällen, sedan 2007, infört riktlinjer och lagkrav om hållbarhetsredovisning. Tidigare studier har inte funnit någon stark koppling mellan politisk reglering och förändrat hållbarhetsarbete. Slutsatser av tidigare studier antyder att förändringsprocessen av hållbarhetsredovisning sker på längre sikt, då ingen förändring i nära anslutning då riktlinjer införts har kunnat ses. Syfte Syftet med studien är att beskriva förändringen av struktur, disposition och argumentation i hållbarhetsredovisningen och om det finns indikationer på att politiska åtgärder i form av införda riktlinjer och lagkrav kan ha påverkat denna förändring över tid. Genomförande Studien har genomförts med en kvalitativ metod. Empirin till studien har samlats in genom dokumentstudie av de tio fallbolagens hållbarhetsredovisning verksamhetsåren 2007, 2008, 2016 och 2017 genomförts. Analysen av studiens empiriska resultat har gjorts i förhållande till de teorier och tidigare studier som redogjorts för i referensramen. Vidare har analysen lett oss fram till vår slutsats.  Resultat Studien visar att över en period av tio år har struktur, disposition och argumentation i hållbarhetsredovisningen förändrats. Valet av argumentationsmedel i fallbolagens hållbarhetsredovisning har visats gå från logosargumentation till blandad logos- och ethosargumentation. Resultatet av studien visar att hållbarhetredovisningen har ökat i antal sidor och även att de blivit integrerade med årsredovisningen, varpå bolagens hållbarhetsarbete setts gå från att redogöras för kring specifika teman till att redogörs för, som en röd tråd, löpande genom årsredovisningen. Resultatet av studien visar även att strukturen i hållbarhetsredovisningen förändrats genom att fler aspekter utifrån lagkravet 2016 redogjorts för. / Background In recent years, the discussion of corporate environmental impact and social responsibility has intensified. On two occasions since 2007, the Swedish government has introduced legal requirements regarding sustainability reporting in Swedish state-owned companies. Previous studies have not found strong links between political regulation and changed sustainability. Conclusions of previous studies have suggested that the process of change in sustainability reports occurs in the long run, since no change in close association with the introduction of guidelines has been observed. Purpose The purpose of the study is to describe the change regarding structure, disposition and argumentation in the sustainability report and if there is any indication that policy measures in the form of guidelines and legal requirements have influenced this change over time. Methods The study has been conducted with a qualitative method. The empirical data for the study have been gathered through the sustainability reports from the ten case companies' over the financial years 2007, 2008, 2016 and 2017. The analysis of the empirical results has been made in relation to the theories and previous studies reported in the reference framework. Furthermore, the analysis has led us to our conclusion. Results The study shows that sustainability reports has changed over a period of ten years regarding structure, disposition and argumentation. The choice of argumentation in the case companies’ sustainability reports has been shown to go from logos argumentation to mixed logos- and ethosargumentation. The results of the study show that sustainability reports have increased in number of pages and have been integrated with the annual reports. The presentation of the companies' sustainability has changed from being accounted for in specific themes to being presented throughout the whole annual report. The result of the study shows that by introducing more aspects of the legal requirement in 2016 the structure of sustainability reports also has changed.

Submitted by Rosicler Moura (rosiclermoura@yahoo.com) on 2016-08-23T16:04:27Z No. of bitstreams: 1 DISSERTAÇÃO A Influência Stkh 11 agosto 2016.pdf: 946720 bytes, checksum: 17e0c5c3733a7b42918a0041621ec7c3 (MD5) / Approved for entry into archive by ÁUREA CORRÊA DA FONSECA CORRÊA DA FONSECA (aurea.fonseca@fgv.br) on 2016-08-23T16:33:30Z (GMT) No. of bitstreams: 1 DISSERTAÇÃO A Influência Stkh 11 agosto 2016.pdf: 946720 bytes, checksum: 17e0c5c3733a7b42918a0041621ec7c3 (MD5) / Approved for entry into archive by Marcia Bacha (marcia.bacha@fgv.br) on 2016-09-05T14:34:57Z (GMT) No. of bitstreams: 1 DISSERTAÇÃO A Influência Stkh 11 agosto 2016.pdf: 946720 bytes, checksum: 17e0c5c3733a7b42918a0041621ec7c3 (MD5) / Made available in DSpace on 2016-09-05T14:35:17Z (GMT). No. of bitstreams: 1 DISSERTAÇÃO A Influência Stkh 11 agosto 2016.pdf: 946720 bytes, checksum: 17e0c5c3733a7b42918a0041621ec7c3 (MD5) Previous issue date: 2016-07-07 / The purpose of this study is to know the influence of stakeholders on federal state-owned companies, associated with National Quality Foundation (Fundação Nacional da Qualidade - FNQ): who they are, how they are identified, how they have treated their own interests and translated into performance requirements, forms of interaction between the state corporations and its stakeholders and the influence of their needs in organizational decisions. Based on the literature about 'stakeholders and Model of Excellence in Management', recommended by FNQ, the available information has been sought in theoretical references and organizations, through exploratory and descriptive research, to expand the understanding and learning about the different groups that affect and are affected by the institutions. The stakeholders identified in the federal state-owned companies have been classified into the following eight categories: 1. Citizens (customers, consumers and users of infrastructure services); 2. Workforce (collaborator, employees, workers and labor force); 3. Government (public authorities, parliamentarians, control, regulatory and supervisory agencies); 4. Shareholders and investors 5. Partners; 6. Suppliers (internal and external) 7. Society (communities and civil society organizations); 8. Others (financial institutions, market analysts and others). This study contributed to the debate on the influence of stakeholders, concerning the importance of their impact on the organization's goals, involve different processes and interaction channels, demonstrated by some state companies, the search for alternatives that promote the satisfaction of the different entities with which it interacts, and concomitantly, it contribute to improve management and achievements of organizational objectives / O objetivo deste estudo foi conhecer de forma prática a influência dos stakeholders em empresas estatais federais, associadas a Fundação Nacional da Qualidade (FNQ): quem são e como são identificados, como são tratados seus interesses e traduzidos em requisitos de desempenho, formas de interação entre as estatais e os seus stakeholders e a influência das necessidades destes entes nas decisões organizacionais. Com base na literatura sobre 'stakeholders e 'Modelo de Excelência na Gestão', preconizado pela FNQ, buscou-se por meio de pesquisa exploratória e descritiva, as informações disponíveis nos referenciais teóricos e pelas próprias organizações, com vistas a ampliar o entendimento e aprendizado sobre os diferentes grupos que afetam e são afetados pelas instituições. Os stakeholders identificados nas empresas estatais federais foram classificados em oito categorias: 1. Cidadãos (clientes, consumidores e usuários de serviços de infraestrutura); 2. Público Interno (colaboradores, empregados, funcionários, força de trabalho); 3. Governo (poder público, parlamentares, órgãos de controle, reguladores e fiscalizadores); 4. Acionistas e Investidores; 5. Parceiros; 6. Fornecedores (internos e externos); 7. Sociedade (comunidades e organizações da sociedade civil); e 8. Outros (agente financeiro, analista de mercado, etc.). O estudo contribuiu para o debate sobre a influência dos stakeholders, considerando a relevância de seus impactos na organização, por meio dos diferentes processos e canais de interação, demonstrando por parte das estatais, a busca de alternativas que favoreçam a satisfação dos diferentes entes com os quais se relaciona, e de forma concomitante que contribuam para a melhoria na gestão e alcance dos objetivos organizacionais.

Magister Philosophiae - MPhil / Directors of companies are the forerunners in overseeing and strategically managing a company.1 The Companies Act 71 of 2008 (the Companies Act) gives the board of directors the legislative obligation for a company to be managed by or under the direction of the board of directors.2 The board of directors have a central role in the decision making and operation of a company; this position also applies to the board of directors of State owned Companies (SOC). This dissertation explores methods to hold directors of SOCs personally liable for irregular, wasteful and fruitless expenditure.

[pt] No início dos anos 1990, o governo brasileiro executou um dos maiores programas de privatização no mundo. Com microdados de firmas brasileiras, nós estudamos se a privatização levou a uma redução nos custos de produção das empresas estatais. A literatura passada avaliou se a privatização levou a um aumento na produtividade total dos fatores (PTF). Nós argumentamos que a privatização pode afetar os custos de produção por outro mecanismo além da PTF: as estatais podem sofrer distorções que as impedem de escolher a cesta de insumos que minimiza custo, e a privatização pode mitigar essas distorções. Ao estimar a função de produção, nós podemos não apenas estimar a PTF, mas também podemos escrever as condições de primeira ordem do problema de minimização de custos e obter uma medida dessas distorções. Nossos resultados sugerem que as empresas aumentam sua PTF após a privatização e fazem melhores alocações de capital. De acordo com nossos resultados, no longo prazo, a melhora nas decisões de alocação responde por 14.37 por cento da redução de custo após a privatização. / [en] In the early 1990s, the Brazilian government carried out one of the largest privatization programs in the world. With microdata on Brazilian firms, we study whether privatization has reduced the costs of production of State-Owned Enterprises (SOEs). Past literature has assessed whether privatization has increased firms total factor productivity (TFP). We argue that privatization could impact the costs of production by another mechanism besides TFP: SOEs may exhibit distortions that prevent them from choosing the cost-minimizing mix of inputs, and privatization may mitigate these distortions. By estimating the production function, we can not only estimate the TFP of firms but also write the first-order conditions of the cost minimization problem and obtain a measure of these distortions. Our results suggest firms enhance their TFP following privatization and make better allocations of capital. According to our results, in the long run, the improvement in the allocation decision accounts for 14.37per cent of the cost reduction after privatization.

[pt] O presente trabalho procurou identificar os fatores que predominam no processo de construção do contrato psicológico dos indivíduos com as organizações. A proposta de utilização da teoria do contrato psicológico deveu-se ao pressuposto de que este modelo permitiria reconhecer fatores explícitos ou implícitos que caracterizavam a relação entre a organização e o próprio indivíduo, seja na elaboração do contrato ou mesmo na quebra das expectativas dos novos empregados. Optou-se por desenvolver estudo de caso qualitativo com características exploratórias. A organização selecionada foi uma empresa estatal federal brasileira com sede no Rio de Janeiro que, no período de janeiro de 2008 a junho de 2009, renovou cerca de 37% do seu quadro de pessoal efetivo, com a contratação de mais de 600 empregados. A estratégia adotada para a coleta de dados teve por base questionários semi-estruturados e entrevistas coletivas com empregados de várias formações de nível superior, visando identificar os principais motivos que estimularam a entrada dos mesmos na estatal e como suas experiências e maneiras de pensar influenciam sua relação com a organização. Os resultados confirmaram algumas crenças correntes a respeito da motivação dos indivíduos para optarem por um emprego estatal, destacando-se entre elas a busca por uma situação de maior estabilidade, principalmente para aqueles acima de uma determinada faixa etária, aliada à possibilidade de um melhor gerenciamento da qualidade de vida. Embora os resultados conduzam à percepção de uma imagem positiva do setor público e uma relação de reciprocidade entre o indivíduo e a organização, eles ainda acreditam que há necessidade de melhorias em relação às oportunidades concretas de crescimento profissional e ao sistema de avaliação de gestão por competências, fatores estes que, principalmente, para os indivíduos mais jovens podem acarretar o rompimento do contrato psicológico. / [en] This study sought to identify the factors that dominate the process of construction of the psychological contract of individuals with organizations, focusing on a particular organization. The proposed use of the theory of psychological contract was due to the assumption that this model would recognize explicit or implicit factors that characterized the relationship between the organization and the individual, whether in contract preparation or even break the expectations of new employees. We decided to develop qualitative case study with exploratory characteristics. The organization selected was a Brazilian federal state enterprise based in Rio de Janeiro, in the period January 2008 to June 2009, renewed 37% of effective staff with the hiring of more than 600 employees. The strategy adopted for data collection was based on semi-structured questionnaires and group interviews with employees of some higher levels of education, identifying the main reasons that prompted the entry of the same state and how their experiences and ways of thinking influence their relationship with the organization. The results confirm some common beliefs about the motivation of individuals to choose a state employment, foremost among them the search for a more stable situation, especially for those over a certain age group, combined with the possibility of better management quality of life. Although the results lead to the perception of a positive image of the public and a reciprocal relationship between the individual and the organization, they still believe there is need for improvement in relation to concrete opportunities for professional growth and evaluation system for management skills. All of these factors, especially for younger individuals may lead to the disruption of the psychological contract.

Thesis (LLM. (Development and Management Law)) -- University of Limpopo, 2020 / Corporate Governance refers to the manner in which companies are directed and controlled. It is concerned with striking a balance between economic and social goals and between individuals and communal goals. The South African Airways (SAA) has recently become one of the worst underperformers amongst the existing State-Owned Companies (SOCs). It has become evident that there was an extensive meddling in SAA’s day to day operations by its chairlady, who has been placing orders and making contractual commitments on the SAA’s behalf, as well as involving herself in managerial decisions in quite inappropriate ways. The Chief Executive Officers (CEOs) of the SAA were changed within a period of four years. It had at some stage developed eight strategies within six years but implemented none of those strategies. The SAA also experienced board infightings which led to the firing of the entire board by the shareholders. The cause of these challenges, as argued in this paper, is poor interpretation and application of corporate governance principles in the SAA. This paper is intended to interpret the principles regulating corporate governance and the application thereof within the context of the SAA. In addition, the paper discusses the comparative analysis with reference to the corporate governance of South Africa and the United Kingdom (UK).

Purpose: The purpose of this study is to examine how eight private and state-owned Swedish companies report their CSR-work, to then compare and analyze how the form of ownership can affect the shape of the annual sustainability reports.  Method:  This study uses a qualitative method based on a deductive research approach. The study implements a comparative research design and applies a text analysis to analyze and identify specific differences among the company’s sustainability reports.   Empiricism and Analysis: The empirical part presents a brief description of the selected companies and a description of the identifying themes that are repeated in all of the company’s sustainability reports. Then, a deeper analysis is carried out that combines the study's reference frameworks with help of the study’s analysis model that is based on the selected theories.  Conclusions: The conclusion that can be drawn is that the form of ownership is not the deciding factor in the shape of the sustainability reports. What has mainly affected the outcome is the companies branch of industry, which has affected both the reporting of the environmental activities and financial incentives in the form of investment. For the remaining aspects, no specific differences have existed from the ownership perspective. The form of ownership has affected the company’s insight of CSR and sustainability work with influence from the stakeholders. The study's results also show that the government for the state-owned companies was the most important player while customers and suppliers were more central to the privately-owned companies. / Syfte: Syftet med detta arbete är att undersöka hur åtta privat- och statligt ägda svenska företag redovisar för sitt CSR-arbete, jämföra samt analysera hur ägandeformen kan påverka utformningen av hållbarhetsredovisning. Metod: Studien använder sig utav en kvalitativ metod som bygger på en deduktiv forskningsansats. Studien implementerar en komparativ forskningsdesign och tillämpar en textanalys för att analysera och identifiera specifika skillnader bland de olika företagens hållbarhetsredovisningar. Empiri och analys: I den empiriska delen presenteras en kort beskrivning av valda företag samt en redovisning av de återkommande identifierande teman som upprepas i de valda hållbarhetsrapporteringarna. Sedan genomförs en djupare analys som sammanfogar studiens referensramar med hjälp av en analysmodell som utgår från de tillämpande teorierna. Slutsatser: Slutsatsen som kan dras är att ägandeformen inte är den avgörande faktorn i utformningen av hållbarhetsrapporterna. Det som har påverkat utfallet främst är företagens branschtillhörighet som har inverkar både rapportering av de miljömässiga aktiviteterna samt ekonomiska incitament i form av investering. För de resterande aspekterna har inga specifika skillnader funnits utifrån ägarperspektivet. Ägandeformen har påverkat företagens uppfattning av CSR och hållbarhetsarbete med inflytande från intressenterna sida. Studiens resultat visar även att staten för de statligt ägda företagen är mest betydelsefull aktör medan kunder och leverantörer är mer centrala för de privatägda företagen.

Submitted by Filipe dos Santos (fsantos@pucsp.br) on 2018-04-03T11:15:16Z No. of bitstreams: 1 Igor Volpato Bedone.pdf: 1297210 bytes, checksum: 1a68675801670284db517c89434ff7af (MD5) / Made available in DSpace on 2018-04-03T11:15:17Z (GMT). No. of bitstreams: 1 Igor Volpato Bedone.pdf: 1297210 bytes, checksum: 1a68675801670284db517c89434ff7af (MD5) Previous issue date: 2018-03-02 / This work analyzes the historical dichotomy between public service vs economic activity, developed over the years by scholars as a parameter to define the legal regime applicable to state-owned companies. With the enactment of Law 13.303/2016, the subject has gained yet more relevance. Changes to the concept of public service entailed a deterioration of the abovementioned dichotomy, since the legal institute of authorization allows material activities to be rendered by the state under a private law regime. Being also possible the competition among different concessionaries. Moreover, stated-owned entities may perform other activities not encompassed by the dichotomy, such as internal supply of goods and services, fostering and construction of public works. Hence, it becomes necessary to revisit this topic, bringing new elements to precisely define the legal regime applicable to stateowned entities / O trabalho examina a consagrada dicotomia serviço público vs. atividade econômica, desenvolvida historicamente pela doutrina como critério para definir o regime jurídico das empresas estatais. Com a edição da Lei n.º 13.303/2016, o tema ganhou ainda mais importância. A alteração no conceito de serviço público ensejou desgaste da dicotomia, pois a figura da autorização permite o desempenho de prestações materiais pelo Estado sob regime de direito privado, com concorrência entre os prestadores, sendo possível, também, a concorrência entre diferentes concessionários. Ademais, as estatais podem desempenhar outras atividades que não se enquadram na dicotomia como o fornecimento interno de bens e serviços, fomento e construção de obras públicas. É necessária, pois, uma releitura do tema, agregando-se outros elementos para a correta aferição do regime jurídico das empresas estatais