Tax aggressiveness generates significant cash savings and information asymmetry. Combining these two consequences of tax aggressiveness, I suggest that tax aggressiveness is associated with higher agency costs of free cash flows that affect investment decisions. Using the conditional investment efficiency model, I find evidence that tax aggressiveness is associated with more investments in firms with high access to investable funds, thus suggesting tax aggressiveness is associated with overinvestment. I also provide evidence that stronger tax monitoring and a change in tax disclosures mitigate the relation between tax aggressiveness and overinvestment. Lastly, I find that the overinvestment is associated with lower future abnormal returns. Thus, my results suggest that poor managerial investment decision making is an unintended consequence to tax aggressiveness. Additionally, I further the need for shareholders and board of directors to exert influence to avoid compensating managers for aggressive tax strategies.

The main goal of the thesis is to settle the value of the travel agency CK FISCHER, a.s. according the most used methods of evaluation. After the short determination of main problems the thesis is focused on strategic and financial analyzes of the company. The practical part is devoted to the evaluation of the company. Three methods are used there -- accounting evaluation method, approach using Discounted Cash Flow FCFF and the third method with the Economic Value Added. These last two techniques are the most exploited in working routine. Lastly the brand value is analyzed, because it is in this case very important part of the firm value. In the conclusion all methods are compared according the possibility of using in different purpose of evaluation.

The aim of this thesis is to analyze the online sales of the travel agency New Travel.cz for the past year 2010 and then use the particular results of the analysis and find out and characterize the major market segments of this company. The travel agency gets through the market segmentation better general view of it's customers and consumer's behavior and comapny can effectively focusing their marketing activities. This analysis can be regarded as pilot project of the New Travel.cz., therefore, deals only with the sale of the previous year. This analysis will serve as a source of information needed to progression of the new generation database of tours and administrative interface of travel agency New Travel.cz.

The aim of this thesis is to describe various types of insurance in the sphere of tourism and analyze the current situation and conditions on the supply side in the Czech Republic. The theoretical part is divided into chapters: Tourism, Consumer protection, Insurance. Another section is devoted to Legislation. This part informs about the main czech law in tourism. The practical part analyzes in detail the range of insurance in case of bankruptcy of a travel agency on the Czech market. The model is explained by examples billable premium, which is suitable for beginners and travel agencies, which have no clear idea of what sales will reach tours sold. The paper ideas and liability insurance agency and professional liability insurance agency.

Magister Artium (Development Studies) - MA(DVS) / This study explored how human agency could be unlocked through youth development programmes using a case study of a selected NGO working in youth development on the Cape Flats in the Western Cape Province in South Africa. The aim of the study was to explore whether the selected youth development organisation encourages and unlocks young people’s aspirations and agency in its program design. The objectives of the study were, firstly, to determine if the organisation provided the students with opportunities and spaces in which the young people could exercise their agency in the development process in order to pursue their goals and aspirations. Secondly, to identify challenges that could inhibit the students from exercising their agency; and lastly, to arrive at recommendations on how the challenges could be overcome or prevented. The argument in this study was that youth development organisations should empower and help to develop the youth in such a way that they could realise their full potential in order to make a positive and constructive contribution to their communities and the South African economy. Human development interventions, the kind that is instrumental to youth development, stresses the importance of helping people to expand on their existing capabilities and strengthening human values such as democracy and agency (Conradie & Robeyns, 2013). As such, the Capability Approach as pioneered by Amartya Sen (1988), was used as the theoretical framework because individuals, specifically young people’s well-being, is often dependent on the extent to which they have the aspirations, freedom and capabilities (in other words the opportunities) to live the lives which they value (Robeyns, 2005). Human agency is thus necessary to translate aspirations, freedom and capabilities into actions that could assist individuals to achieve their desired states of well-being. The six dimensions of agency that the study focused on were reflective judgement, motivation, goal pursuit, autonomy, relatedness and competence as conceptualised by Conradie (2013). The study was located in a qualitative research paradigm and used a case study design. The research participants consisted of two groups. The first group were the two programme managers of the selected organisation. The second group was 40 Grade 10 learners who participated in the youth development programme offered by the selected organisation at a high school on the Cape Flats. The research instruments used included a biographical information sheet, a self-reflective questionnaire and a focus group discussion for the student participants, and individual interviews conducted with the programme’s two staff members. The quantitative data consisted of the students’ biographical information and were analysed through Excel software. Content analysis was used to analyse the qualitative data through a three-stage open coding process. The importance of the findings of the study was that the youth development organisation added value to the students’ development by assisting them to identify their aspirations and unlock their agency role. The findings also showed that being part of a community characterised by poor households, alcohol and drug abuse, violence and crime, and disadvantaged public schooling; the students’ chances to succeed against those odds were slim. Based on the findings, recommendations were proposed for the Department of Social Development, youth development organisations, post-school institutions, families and communities, and young people, on how the different role players could engage collaboratively in order to empower and assist the youth to realise their full potential; and in so doing, enable them to make a constructive contribution to South Africa at large.

Magister Educationis (Adult Learning and Global Change) - MEd(AL) / The objective of the research is to understand the learning affordances offered at Insure Company, a large financial sector institution in South Africa and to explore how employees exercise their agency in responding to these opportunities for learning. The study draws on the concept of co-participation (Billett, 2004: 03) to explore how learning at work is shaped through learning affordances in the workplace on the one hand and engagement with these learning affordances on the other. Drawing on data gathered through interviews and analysis of company policies, this case study discusses how employees learn to perform their roles competently, how they access guidance and support from peers and more experienced colleagues and how they respond to these opportunities for learning. It also discusses the factors which enable or constrain their learning and agency. The research confirms that negative perceptions of workplace learning - as informal, unplanned, unstructured, limited to particular contexts and not transferable - are inaccurate. It supports the argument that there should be a clear understanding about how learning proceeds in workplaces and how best that learning should be organised. It is hoped that this case study makes a useful contribution towards developing such an understanding.

This thesis is an analyses of interviews and observations in the Armenian quarter of Jerusalem. It explores the identity and agency of twelve women in a patriarchal context. A context furthermore marked by religion and several conflicts. The aim is to increase knowledge about this unique environment. In order to encompass the complexity of the interplay between the individual women and the surrounding society, a combination of discourse-, structuration- and intersectional theory, has been consulted. The case study illustrates how the women’s individual agency is connected to negotiations of a Jerusalemite Armenian identity, in relation to outlook and social space. Attention is especially given to the identity markers gender, ethnicity and age. These are, together with education, career, marriage and religion, understood to influence the women’s latitude. While individual freedom is of great importance for a few, the majority direct their efforts to exercise agency to the benefits of their community.

Corporations as such are often not perceived to have moral agency, and directors and officers of the corporation are frequently not considered responsible for corporate actions. However, I appeal to Peter French's view that reflection on a corporate internal decision (CID) procedure shows that a corporation should be considered a moral agent. Many writers have cast doubt on the correctness of French's view, but I defend it from several major objections.

A dissertation submitted to the Faculty of Science, University of the Witwatersrand, Johannesburg, in fulfilment of the requirements for the degree of Master of Science. Johannesburg, 30th May 2014. / The Multi-Angle Imaging SpectroRadiometer (MISR) is an Earth observation instrument operated by NASA on its Terra satellite. The instrument is unique in imaging the Earth’s surface from nine cameras at different angles. An extended system MISR-HR, has been developed by the Joint Research Centre of the European Commission (JRC) and NASA, which derives many values describing the interaction between solar energy, the atmosphere and different surface characteristics. It also generates estimates of data at the native resolution of the instrument for 24 of the 36 camera bands for which on-board averaging has taken place prior to downloading of the data. MISR-HR data potentially yields high value information in agriculture, forestry, environmental studies, land management and other fields. The MISR-HR system and the data for the African continent have also been provided by NASA and the JRC to the South African National Space Agency (SANSA). Generally, satellite remote-sensing of the Earth’s surface is characterised by irregularity in the time-series of data due to atmospheric, environmental and other effects. Time-series methods, in particular for vegetation phenology applications, exist for estimating missing data values, filling gaps and discerning periodic structure in the data. Recent evaluations of the methods established a sound set of requirements that such methods should satisfy. Existing methods mostly meet the requirements, but choice of method would largely depend on the analysis goals and on the nature of the underlying processes. An alternative method for time-series exists in Gaussian Processes, a long established statistical method, but not previously a common method for satellite remote-sensing time-series. This dissertation asserts that Gaussian Process regression could also meet the aforementioned set of time-series requirements, and further provide benefits of a consistent framework rooted in Bayesian statistical methods. To assess this assertion, a data case study has been conducted for data provided by SANSA for the Kruger National Park in South Africa. The requirements have been posed as research questions and answered in the affirmative by analysing twelve years of historical data for seven sites differing in vegetation types, in and bordering the Park. A further contribution is made in that the data study was conducted using Gaussian Process software which was developed specifically for this project in the modern open language Julia. This software will be released in due course as open source.

Student Number : 9601703X - MA research report - School of Human and Community Development, Centre for Psychology - Faculty of Humanities / Domestic violence is recognized as a pervasive problem in South Africa. This study focused on the narratives of four abused women and attempted to establish the significance of sheltering in their lives. A qualitative research design was used based on semi-structured interviews and a short follow-up questionnaire, which were analysed thematically. The findings supported past research, indicating that the women’s experiences were very diverse, and they contained many similar features to those reported in previous studies. Each of the four women was not a passive victim, having taken the decision to leave an abusive and violent relationship. Sheltering provided for these women the protected space necessary to move beyond, and in addition provided structure and social support necessary to start to transcend the abuse. Sheltering was found to fill in the gaps created by a society in transition, in which abuse and violence are often tolerated or condoned within the existing social and family structures.