Den svenska fastighetsmarknaden är en högaktuell och attraktiv marknad med en högefterfrågan. Det finns därför ett stort intresse av värdering av fastigheter, vilket är en viktigdel av en fastighetsförsäljning, ett fastighetsköp eller belåning. Hur arbetar då en värderarepå den kommersiella fastighetsmarknaden för att värdera en fastighet, på en marknad därasymmetrisk information gör att de olika aktörerna sitter på olika mycket information? Syftet med detta arbete är att undersöka hur en värderare på den kommersiellafastighetsmarknaden arbetar för att kompensera för den asymmetriska information som blandannat en försäljning genom fastighetspaketering medför. Studien kommer även undersöka omdet finns någon skillnad i processen om värderingen utförs av ett företag med entransaktionsavdelning kopplad till den, eller då värderingsföretaget inte har entransaktionsavdelning. Syftet uppnås i denna studie genom intervjuer utförda med några avde mer etablerade aktörerna inom fastighetsvärdering på den kommersiellafastighetsmarknaden. Studien visar på att det finns klara likheter i hur arbetsprocessen vid värdering av enkommersiell fastighet ser ut, men den visar även på att det finns skillnader företagen emellan,framför allt skillnader mellan företagen med en transaktionsavdelning och de utan en sådanavdelning. Värderare på ett företag med en transaktionsavdelning verkar förlita sig i en relativtstor utsträckning på sin egen transaktionsavdelning vid insamlandet av information,någonting som kan leda till psykologiska begränsningar i informationsinsamlandet. Värderarepå företag som inte har en transaktionsavdelning tenderar att gå mer informella vägar vidinsamlingen av information. / The Swedish property market is a highly current and attractive market with a high demand.Therefore there is a high interest in valuation of properties, which is an important part of realestate sales, buying property or taking loans from the bank. How does a property appraiserwork on the commercial property market, which is known for its asymmetric informationwhere the parties have different amounts of information? The purpose of this study is to examine how a property appraiser on the commercial real estatemarket compensates for the asymmetric information which real estate packaging brings. Thisstudy will also look into whether there is any difference in the process if the valuation isperformed by a company which has a transaction department or if it ́s performed by acompany which does not have a transaction department. The purpose in this study is fulfilledthrough interviews with some of the more established commercial property appraisers. The study shows similarities in the process of valuing a commercial property between thedifferent companies, however, it also shows differences in the process. The differences mainlyshow between the companies with a transaction department and the companies that doesn ́thave this department. Appraisers in a company with a transaction department seems to relyto a wider extent on its own transaction department, when it comes to gather information,something that may lead to psychological restraints in the information gathering. Theappraisers in the companies without a transaction department, take more informal ways togather the information.

Purpose: The purpose of this work is to investigate how the market reacts to a change of CEO and if the impact on the share price is different when a company changes founder-CEO compared to a non founder-CEO. We chose to write about this type of phenomenon mainly because we see that CEOs today are replaced more frequently than before. Theory: The efficient market hypothesis, the agent theory and corporate governance. Method: The study is based on a quantitative deductive research approach. The companies investigated were Swedish companies listed on Nasdaq Stockholm and they have been examined using an event study and two hypothesis tests. Results: The result consists of 20 observations from 20 companies. The cumulated average abnormal return is presented for all days of the event window. The results of the hypothesis tests are also presented. Analysis: The first hypothesis test shows that the announcement of the change of CEO has an impact on the share price. The second hypothesis test shows that there is a difference regarding the impact between the announcement of change of a founder-CEO and a non founder-CEO. The event study shows that the impact of the change of a founder-CEO is positive and the impact of the change of a non founder-CEO is negative. Conclusion: The result of the study shows that the announcement of a change of CEO has a significant impact on the share price and the announcement of the change of a founder-CEO affect the stock price different from the change of a non founder-CEO. / Syfte: Syftet med detta arbete är att undersöka marknadens reaktion när ett företag byter VD samt om marknaden reagerar olika mellan ett byte av grundar-VD och icke grundar-VD. Vi valde att skriva om just denna typ av fenomen då vi upplever att VD:ar idag byts ut oftare jämfört med tidigare. Teori: Den effektiva marknadshypotesen, agentteorin och corporate governance. Metod: Den metod undersökningen har utgått från är en kvantitativ metod med deduktiv ansats. Svenska börsföretag har undersökts med hjälp av ett hypotestest och en eventstudie. Empiri: Empirin består av 20 observationer från 20 företag. Den ackumulerade genomsnittliga abnormala avkastningen presenteras för alla dagar i händelsefönstret. Även empirin från hypotestesten presenteras. Analys: Hypotestestet visar att tillkännagivande av VD-byte har en påverkan på aktiekursen. Det andra hypotestestet som utförts visar att det finns en skillnad i påverkan mellan tillkännagivande av VD-byte för grundar-VD och icke grundarVD. Eventstudien visar att påverkan av grundar-VD är positiv medan påverkan av icke grundar-VD är negativ. Slutsats: Empirin av undersökningen visar att tillkännagivande av VD-byte har en signifikant påverkan på aktiekursen samt att tillkännagivande för byte av en grundar-VD påverkar aktiekursen annorlunda jämfört med tillkännagivande av byte av en icke grundar-VD.

Revisionsbranschen är en starkt reglerad bransch och styrs i dagsläget av många lagar som har som avsikt att värna om intressenter samt ge riktlinjer om god redovisningssed. Trots att dessa lagar existerar, är det många företag i obestånd som manipulerar bokföringen, vilket gör revisorns arbete att granska bokföringen mycket viktigt. Att företag får anmärkning på bokföringen är inte ovanligt och det kan finnas många orsaker till att företag som gått i konkurs får revisionsanmärkningar. Syftet med denna studie är att undersöka revisionsanmärkningar i ett företags sista årsredovisning innan konkurs. Vidare är syftet att undersöka om det finns något samband mellan företagens storlek och antal revisionsanmärkningar. I studien har den kvantitativa metoden använts där ett urval på 350 företag som gick i konkurs under 2015 och som haft revisor valts ut. Revisionsberättelser från dessa 350 har därefter samlats in från databasen Retriver för att sedan analyseras. Den genomförda studien visar att 61 % av alla företag har fått åtminstone en anmärkning i revisionsberättelsen. Enligt studiens empiriska material är den vanligaste anmärkningen att bolaget inte i rätt tid och med rätt belopp har redovisat samt betalt mervärdesskatt, avdragen skatt eller sociala avgifter. Därefter är det vanligt att årsredovisningen inte har upprättats i sådan tid att det varit möjligt att hålla årsstämma inom sex månader efter räkenskapsårets utgång och att en kontrollbalansräkning inte har upprättats. Det som vidare framkommit i studien är att i 22 % av företagen har revisorn anmärkt på företagets fortlevnad. Genom en analys av det empiriska materialet har det även framkommit att det finns ett samband mellan företagets storlek och antal anmärkningar då större företag får färre anmärkningar än vad mindre företag får. / The audit industry is highly regulated and controlled of many laws that seeks to protect stakeholders and to provide guidelines for companies so they can use generally accepted accounting principles. Although these laws exist, many companies in insolvency manipulates records, making the work of the auditor to review the accounts very important. That companies get notes on their accounting is not uncommon and it might be different causes to this. The purpose of this study is to investigate auditors notes in a company's last annual report before the bankruptcy. Furthermore, the purpose is to investigate whether there is any correlation between company size and number of notes. In this study, the quantitative method is used where a sample of 350 companies that went bankrupt in 2015 and who had an auditor has been selected. Audit reports from these 350 companies have been collected from the database Retriever and then analyzed. The survey shows that 61 % of all companies have gotten at least one note in the audit report. According to the study's empirical material, the most common complaint is that the company hasn’t, in the right time and with the right amount reported and paid tax, deducted tax or social security contributions. Next, it is common that the annual accounts have been prepared in such time that it has been impossible to hold the annual general meeting within six months after the financial years ending. The third commmon note in the audit report is that a company hasn’t done a balance sheet for liquidation. What further emerged from the study is that in 22 % of the companies the auditor have criticized the company's going concern. Through an analysis of the empirical material, it has also emerged that there is a correlation between company size and number of notes as larger companies get fewer notes from accountants than smaller companies gets.

Inom EU pågår ett ständigt arbete med harmonisering av lagar i syfte att utforma och införa lagstiftning av högsta kvalitet, samtidigt som hänsyn tas till att de administrativa bördorna står i proportion till deras nytta. Med detta som bakgrund har EU arbetat med att främja lättnader för små och medelstora företag på internationell såväl som nationell nivå, vilket resulterade i en revision av de egna direktiven. Som en följd av Europaparlamentet och Rådets direktiv av 2013 gällande årsbokslut, koncernredovisning och rapporter i vissa typer av företag, tillsattes i slutet av 2012 en utredning av regeringen. Utredningens uppgift var att lämna förslag till de lagbestämmelser som i svensk rätt skulle krävas för att genomföra direktivet. Utöver själva direktivet behandlade utredningen även frågan om de befintliga årsredovisningslagarna bör utformas på ett mer överskådligt och tydligt sätt. Utredningen resulterade i ett delbetänkande som behandlade genomförandet av EU:s nya redovisningsdirektiv, samt ett slutbetänkande som innefattade en översyn av årsredovisningslagarna. Remiss på slutbetänkandet skickades ut till 57 instanser och svaren på denna skulle vara Justitiedepartementet tillhanda senast den 1 december 2015. Totalt inkom det svar från 36 instanser gällande slutbetänkandet.Syftet med studien är att undersöka och redogöra för de attityder de olika remissinstanserna har till de förslag som angivits av utredningen. Genom att skapa en modifierad intressentmodell kategoriserar vi instanserna i olika intressentgrupper och undersöker om det finns samband i remissvaren baserat på vilken intressentgrupp respektive instans är kategoriserad i, samt vilka frågor som är av störst vikt för instanserna. Studien är av kvalitativ karaktär och empirin är baserad på de inkomna remissvaren.Studien visar att de flesta remissinstanserna ser positivt på ett införande av en ny företagskategori, mikroföretag. Då den svenska utredningen föreslår lägre gränsvärden för denna kategori än vad EU-direktivet gör, gav detta upphov till diskussion. Utredningen menar att det underlättar att ha samma gräns som för revisionsplikt, medan de som förespråkar högre gränsvärden anser att det medför mer svårigheter för svenska företag jämfört med deras europeiska jämlikar. Även den kostnadsbesparing som presenterats av utredningen ifrågasätts av ett flertal instanser då de anser att kalkylen är för snävt beräknad, och menar att kostnaderna kommer att bli högre både för det enskilda företaget och för samhället. Gällande moderniseringen av ÅRL och BFL är alla instanser överens om att det är något som ligger i tiden, baserat på att lagarna idag är allt för komplexa och saknar logisk struktur. Förslagen gällande fastställandet av årsredovisningen samt fastställelseintyget har renderat i minst yttranden från remissinstanserna. De instanser som svarat är också de som påverkas mest av de nya reglerna.De slutsatser vi drar är att de flesta instanserna är positiva till de förslag som presenterats av utredningen. Debatten angående gränsdragningen kommer med stor sannolikhet att fortgå även efter det att kategorin mikroföretag har införts i lagstiftningen. Vi anser att det är av vikt att Sverige tillämpar de gränsvärden som EU-direktivet förespråkar, bland annat av harmoniseringsskäl. I kostnadsfrågan ser vi att det i det långa loppet är viktigare att lättnader införs för de mindre företagen än att det på kort sikt kommer innebära merkostnader för myndigheterna. Gällande förslaget till en modernisering av ÅRL och BFL så är vi precis som remissinstanserna positiva till det då vi anser det vara av största vikt att förbättra tydligheten i lagtexten. / Within the EU, the work with harmonization of laws is an on-going process. The aim is to design and implement legislation of the highest quality, while taking into account that the administrative burdens are proportionate to their advantage. Against this background, the EU has worked to promote relief for small and medium-sized entities at the international as well as the national level, resulting in an audit of its own directives. As a result of the European Parliament and Council Directive of 2013 concerning the annual accounts, consolidated financial statements and related reports of certain types, an investigation was added by the government at the end of 2012. The investigators task was to submit proposals to the legislative provisions of Swedish law that would be required to implement the Directive. In addition to the Directive itself, the investigation treated the question whether the existing annual accounts legislation should be redesigned in a more transparent and clear manner. The investigation resulted in an interim report that dealt with the implementation of the new EU accounting directives, as well as a final report, that handled a review of the annual accounts act. The consultation on the final report was sent to 57 agencies and the answer to this was to be at the Ministry of Justice no later than 1 December 2015. Answers were received from 36 agencies.The purpose of this study is to examine and report on the attitudes of the various consultative agencies regarding the proposals set forth by the investigation. By creating a modified stakeholder model, we categorize instances of the various stakeholders and examine whether there is a correlation in the responses based on the stakeholder group each instance is categorized into, and what issues are of most importance to the instances. The study is qualitative in nature and the empirical data is based on the submitted consultation responses.The study shows that most agencies welcome the introduction of a new business category, micro-entities. There are some concerns regarding the limits for this category, since the limits suggested by the Swedish investigation are lower than the limits suggested by the EU. The investigation believes that it is helpful to have the same limit as for auditing duty, while those who advocate higher levels believes it will cause more problems for Swedish companies compared to their European peers. The cost saving estimated by the investigation are believed to be too narrowly calculated by several agencies, who argue that the costs will be higher for both the individual entity as well as for society. Regarding the modernization of the annual accounts acts all agencies agree that it is something that needs to be done, based on that the laws are too complex and lack logical structure. The proposals regarding the establishment of the annual report and approval certificate has rendered the least opinions of the consulted agencies. The replying agencies are the ones most affected by these new rules.The conclusions that we draw are that most of the agencies are positive towards the proposals presented by the investigation. The debate over the limits for micro-entities will likely continue after the category has been introduced to legislation. We believe that it is important for Sweden to apply the values that the EU directive advocates, for harmonization reason among other things. Regarding the cost issue we see that it is more important to promote relief for the smaller companies, than the meaning of increased costs in the short term. Regarding the modernization of the annual account acts we are, just as the consultative agencies, in favour of it because we believe it to be of utmost importance to improve the clarity of the legal text.(This essay is written in Swedish)

區段徵收為目前政府大規模進行土地整體開發，促進都市發展，以及無償取得公共設施用地的重要舉措之一，為一種具有高度自償性之土地開發事業。由於區段徵收需要投入大量的資金與人力，在政府財政困窘及國內不動產市場自民國81 年以來，長期處於不景氣之故，其非但無法達成原先設定之有效減低公共支出之目的，反而需要額外編列預算以支應財務缺口。爰此，造成縣市政府往往視區段徵收為畏途，但礙於相關政策規範及都市發展須盡速取得必要之公共設施用地，而不得不予執行，從而導致惡性循環，因此，如何解決區段徵收財務問題，乃成為政府必須面對的最大困境與挑戰。 在政府財政狀態日益惡化，短期內又無法籌措區段徵收開發過程中龐大的資金需求，再加上地方專業人力不足之困境下，使得區段徵收之辦理型態有所演變，部分地方縣（市）政府遂逐步引進民間資源與活力（即BT模式），朝向由民間機構自行籌措資金並由該機構專業人員負責規劃與執行開發工作，政府從旁提供必要之行政協助。此外，開發所需總費用均先由民間機構墊付，而政府再以剩餘可建築土地來償付費用，藉此創新開發模式，以有效解決區段徵收有關資金籌措及開發後土地去化等至為關鍵之癥結問題。 然而BT模式在實務執行過程時，仍存在著法令、政策制定及實施方式等相關爭議，以致於無法有效大量推廣實施，本文藉由研究相關法令、文獻記載、分析目前實施案例、並透過訪談專家學者及整理相關問題等，說明區段徵收業務在走向政府委託民間機構、引進民間資源辦理區段徵收BT開發模式時，所需面對與管理之委託-代理關係，藉由代理理論，探討區段徵收實務執行層面中，可行的解決措施（包括誘因與監督機制），並建議區段徵收應與時俱進地檢討與修正相關配套措施，以利此項善用民間資源與活力，並具有突破性的土地開發委外機制能夠更臻完備，並可作為後續土地整體開發學術研究之重要參考。 綜合本研究之結論與建議，謹分述如次： 一、結論 （一）區段徵收機制基於政策、民意與制度之可行性，可以作階段性創新改革。 （二）現行區段徵收委外機制相關法制，尚欠完備。 （三）區段徵收委外辦理機制，應同時配套建構監控制度。 （四）區段徵收委外過程，應運用誘因機制，以避免代理問題產生。 （五）區段徵收BT開發模式，應可進一步強化學術研究與應用探討。 二、建議 （一）限期檢討修正區段徵收BT開發模式法制化工作。 （二）由中央與地方成立專案小組，全力協助BT得標廠商。 （三）加強BT開發模式之宣導，建構良好的溝通協調機制。 （四）根據現有兩案例開發結果，審慎評估策訂推廣實施計畫。 / Zone expropriation is presently the large-scale integrated land development carried out by the government to promote urban development. Acquiring land for public facilities without compensation is also an important measure to have high self-liquidation of land development enterprise. Because zone expropriation needs to invest in a great deal of funds and manpower, the government finance and the domestic real estate market were in a long-term depression from 1981 until 1992. Not only unable to reach the targeted profit margin to reduce the public expenses, additional budget is needed to deal with financial gap. Therefore, it makes the county and city government often look at zone expropriation as a dangerous choice to take. But hindrance related to policy standardization and urban development must acquire the necessary land for public facilities as soon as possible because there's no choice but to implement it. As a result, it leads to a vicious circle. Therefore, the government needs to face the greatest dilemma and challenge on how to settle the zone expropriation financial problems. The financial status of the government is worsening day by day. Within a short time the government was unable to raise funds for the huge financial requirement of the zone expropriation. In addition, professional manpower is also a dilemma, causing the handling pattern of zone expropriation to evolve to some extent. Partially the local county and city government gradually brings in non-government resources and vitality (private participation-BT mode). Non-government organizations voluntarily raise funds and professionals in private sectors manage the plans and implementation, while the government provides necessary administrative assistance. In addition, the development necessary for the total costs is paid first by the non-government organization, and the government excess land will be liquidated, thereby creating modes in effect of settling the zone expropriation's fund raising and developed land key problems. However in the implementation of the BT mode process, the decrees, policymaking and implementation methodology related to disputes are still kept. Because of the incapability to take effect the large number of widespread implementation, this writing discuss about the laws, research about decrees, document records, analysis of present case studies, and interviews of professional scholars and arrangements related to the problems. Zone expropriation business is illustrated in moving towards the government's entrusting of non-government organizations. The introduction of non-government resources to handle the zone expropriation BT development method is necessary for facing with the management of principal-agent relationship. By means of principal-agent theory, probing into the implementation dimension, feasible resolutions (including incentive and monitoring mechanism), and recommending the steady advancement of zone expropriation to review and amend about the formation of a complete set of measures, these are all for making good use of non-government resources and vitality, as well as to have a break through in the land development outsourcing mechanism to make them more perfect, and may make a follow-up for the land integrated development academic study of important references. Summary, Conclusion and Recommendation: 1. Conclusions: (1)Gradual improvements can be made on the zone expropriation mechanism based on policy, public opinion and system feasibility. (2)The legal system regarding the current zone expropriation mechanism is still incomplete. The external committee handling zone expropriation should simultaneously form a complete construction monitoring system. (3)The external committee handling zone expropriation should utilize a financial incentive mechanism to avoid any problems. (4)A zone expropriation based on the BT model should go further in strengthening academic research and application 2. Recommendations: (1)Establish a deadline for reviewing the legal work for zone expropriation in the BT development model. (2)Allow the national and local relevant groups to fully assist the winning bidder for the BT project. (3)Strengthen guidance for the BT development model; construct a good communication mechanism. (4)Based on the development results of the above case studies, carefully appraise the presented implementation plan . Keywords: Zone Expropriation、Private Participation(BT Mode)、Principal-Agent Theory、Incentive Mechanism

台灣地區工業區開發已近50年，民國84年中央工業主管機關不再開發工業區，由地方政府與興辦工業人接續為工業區開發主流。就工業區開發資料顯示，有興辦工業人開發大型工業區不易，及開發商不易尋找之情況，前者乃取得完整大面積土地困難，為開發主體問題，後者乃在政府開發工業區未編列預算所致，為開發模式問題，因此本文認為「編定工業區開發模式」課題，有研究之必要。 　　本研究宗旨就工業區開發模式中資金籌措為主題，以工業區開發規劃至開發完成之過程為軸線，經由(一)市場與政府理論，論證工業區開發主體及數量變化。(二)對不同開發主體在開發過程中，所產生交易成本、代理成本、衝突成本異同討論。(三)對開發模式之交易成本等相關文獻、法制面、實務面、分析研究，以及對實際參與工業區開發人士進行深入訪談，發覺工業區開發困境所在。 經研究認為地方政府擁有公權力及行政資源，所開發工業區交易成本最低，為編定工業區開發最佳模式，爰此本研究建議編定工業區開發必須搭配以下措施：(一)政府編列預算。(二)公私統包開發。(三)引進不動產估價師制度。(四)引進銀行融資制度。(五)工業區銷售採預售制度。 　　透過上述工業區開發配套措施，除有益於開發商參與工業區開發，及減少民眾抗爭之衝突成本，使得開發順利外，尚可降低搜尋成本、協商成本，及時間成本等，達成降低編定工業區開發交易成本之目的，提昇工業區開發之效率。 / The development of industrial sites in Taiwan has been carried out continuously for nearly 50 years. In 1995, the central government made a decision that they no longer played an active role in developing industrial sites, and thereafter, the task was taken over by local governments as well as host industrialists. The literature that recorded such development shows that some host industrialists encountered difficulty in developing large-scale industrial sites, and also it was difficult to find developers. The problem of the former was caused by the difficulty in looking for large area of land, which was a problem of development entity, and the problem of the latter was caused by no budget arranged by the government, which was a problem of development mode. Thus, in this text, it is considered that a study on “the Development Mode of Projected Industrial Sites” has become essential. The purpose of this study is to explore the subject of fund raising in the process of industrial site development, from the stage of its planning up to its accomplishment, which goes through (1) the theory of market and government: to discuss and verify entity and quantity variation in industrial site development. (2) the discussion about similarities and dissimilarities in transaction cost, agent cost, and conflict cost emerging in the process of development. (3) the analysis and research of transaction cost of development mode through relative literature, legal aspect, and practical aspect, as well as interviewing personnel who took take part in the actual development of industrial sites in order to find out potential problems. As a result of research, it is deemed that the transaction cost in developing industrial sites is lowest when executed by a local government as it holds civic rights and administrative resources, so that turns out to be the best mode in projected industrial site development. It is therefore proposed in this study that when developing projected industrial sites, following measures should be taken: (1) budget planned by the government (2) execution of consolidated development contract for both public and private projects (3) introduction of real estate appraiser system (4) introduction of bank loan system (5) adoption of advance booking for selling and purchasing premises in industrial sites. By taking above supplementary measures for developing industrial sites, the benefits include encouraging developers’ involvement in developing industrial sites, reducing conflict cost arose by mob protest so as to facilitate development process, and further lowering searching cost, negotiation cost, time cost etc. As a result, the purpose of reducing transaction cost of developing projected industrial sites can be achieved, and the efficiency of such development can be elevated.

本研究透過公共選擇途徑，檢視行政機關面對主管之行政命令遭大法官會議宣告違憲後的裁量行為，藉此瞭解行政機關面對司法審查的制衡監督，將表現出哪些樣態的裁量模式；並藉由公共選擇途徑關於理性自利人的假設，以「交易」的概念連結行政與法律，以補充兩者過去缺乏交集、各說各話的現象。 本研究追蹤至民國97年底為止判決行政命令違憲的解釋，共66筆。依大法官解釋是否賦予行政機關修改命令的裁量，以及命令是否修改，將66筆解釋分成四大類，並統計修改所費的時間。透過統計分析以及深度訪談，本研究發現：大法官未賦予行政機關修改裁量，雖然確能提高命令修改的比例，但是對於控制行政機關在一定的年限內完成修改卻未有顯著的結果。行政機關雖然原則上會停用違憲法規，但卻不一定願意將新的作法明文化，其間的理由包括節省修正命令的成本，或是爭取更多決策商議的機會等。縱使最後依然完成修正，「依法行政」卻不是其真正的動機；減少組織成本或政策執行成本、增加組織的正當性等才是行政機關決定修改、不修改命令，或是否在期限內完成修訂的真正理由。而大法官解釋對行政機關的制衡力量，也因為大法官作成解釋之後再無有效的監督機制而打了折扣。同時，司法審查與行政之間的制衡關係必須放在整個民主授權結構中進行理解；正因兩者關係並非處於真空環境，授權結構的資訊不對稱、多重委託與多重代理的問題，同樣會發生在司法對行政的監督關係中，因此大法官在結構上就無法完整地扮演制衡、監督行政機關的角色。 基於以上發現，本研究認為司法對行政的制衡，除了司法審查制度本身以外，應當依照行政機關的偏好模式設計監督機制。包括將違憲的命令交由行政院研考會統一管考、監察院可針對行政機關延遲修正命令的行為進行糾正，並要求遭判違憲的行政命令之修正、失效與廢止皆須對外公告，避免行政機關以節省成本為由，讓法規失去扮演政府與人民之間的契約的功能。 / This research intends to answer the question of “how Supreme Court Rulings have impacts on bureaucratic discretion?” As the superior judicial review authority, Supreme Court Rulings are usually thought as an authority which bureaucrats must obey. Is it really the case? In this research, both bureaucrats and Supreme Court are seen as rational actors who have preferences over different outcomes, as the Public Choice theorists usually depict. Author utilizes public choice theory to bridge the gap between the fields of public administration and public law on the issue.. Empirically, this study collects the administrative decrees which were announced unconstitutional by Supreme Court before the end of 2008 in Taiwan. Sixty-six Supreme Court Rulings are found and categorized into four groups by two dimensions: (1) whether the grand judges give the bureaucrats discretion and (2) whether the bureaucrats follow the grand judges’ will to reform the decrees. Both secondary data analysis and in-depth interviews are used in this research to figure out bureaucrats’ preference and the way they respond to the grand judges’ decisions. The statistical result shows that after been announced unconstitutional by the Supreme Court, about 15% of the administrative decrees stay the same. The reasons for this “unresponsiveness” to the Supreme Court Rulings are varied case by case. Basically speaking, bureaucrats take laws as means to fulfill their tasks. They are not motivated to follow the rule of law if there is a requirement to pay an excessive costs to achieve the policy goals. It is interesting to know that judicial review is high on its moral ground but sometimes it is a mechanism without an administrative devises to enforce their rulings. Also, the problems of information asymmetry, multi-principle and multi-agent will also be found in the relationship between Supreme Court and bureaucrats. To sum up, on the one hand, this research has shown that to follow the rule of law is not bureaucrats’ priority. As a result, an administrative mechanism is needed to enforce the Supreme Court Rulings. For example, the Research, Development and Evaluation Commission (RDEC) of Executive Yuan or the Control Yuan can be assigned to do the job. However, on the other hand, the Supreme Court always stands on the side of protecting human rights against government activities, sometimes the rulings might lead to government activities unworkable as we can see from the cases of the Rulings 400 and 440. How to balance the issue of protecting citizen’s rights and governability of the administrative agencies is one of the key problems needed to be solved in order to realize democratic governance in the future.

Cette thèse présente l’évolution temporelle du lien entre les variables politiques et la mobilité des élites administratives dans la fonction publique provinciale au Canada. Considérant la relation entre le gouvernement et l’administration comme une relation mandant-mandataire (principal-agent), la littérature en administration publique décrit l'influence de diverses dynamiques politiques – par exemple un changement de parti au pouvoir – sur le degré d’intervention des gouvernements dans la dotation du personnel administratif. S’appuyant sur la notion de marché bureaucratique (Public Service Bargain) de Hood et Lodge (2006), la présente thèse estime que la relation entre les dynamiques politiques et la mobilité des fonctionnaires s’inscrit dans un contexte sociohistorique. Plutôt que de percevoir l’ensemble des relations politico-administratives comme présentant les caractéristiques de la théorie mandant-mandataire, avec de nombreux conflits pour l’atteinte des objectifs et une grande asymétrie des informations, cette thèse suggère que la mesure dans laquelle diverses dynamiques politiques poussent les gouvernements à procéder à des mises à pied ou à des nominations stratégiques varie avec le temps, en suivant les changements dans ce qui entoure les relations politico-administratives. Les statistiques descriptives et la régression logistique sont principalement utilisées pour analyser l’association entre les variables politiques et la mobilité, à l’aide d’une base de données originale repostant des changements de sous-ministres dans la fonction publique provinciale au Canada de 1920 à 2013. Les résultats empiriques permettent de conclure que l’influence des dynamiques politiques sur la mobilité des fonctionnaires varie en fonction des différents marchés bureaucratiques. Avant la mise en place d’une fonction publique professionnelle, où les relations politico-administratives s’inscrivaient dans un spoils bargain, les changements de gouvernement entraînaient une importante rotation des fonctionnaires. Cette pratique est conforme à un marché bureaucratique où les critères de compétences des fonctionnaires sont indéfinis, et où les fonctionnaires sont loyaux au parti au pouvoir. Dès la fin de la Deuxième Guerre mondiale, jusqu’aux années 1980, l’association entre les dynamiques politiques et la mobilité diminue grandement. Cette pratique correspond au marché bureaucratique de Schaffer (Schafferian bargain), où les gouvernements favorisent la connaissance technique des politiques et la bonne volonté des fonctionnaires à donner des conseils avisés aux membres du gouvernement, peu importe le parti au pouvoir. Dès les années 1980, les dynamiques politiques sont de nouveau associées à la mobilité. Or, non seulement les changements de parti, mais également l’élection de nouveaux chefs à la tête de ceux-ci entraînent une plus grande mobilité. Cette pratique va dans le sens du managerial bargain, où les nominations sont utilisées pour encourager l’allégeance à l’agenda gouvernemental et la compétence est comprise comme étant la bonne gestion du personnel et des ressources dans le but de répondre aux directives du gouvernement. Étudiant les actions stratégiques des gouvernements dans leur contexte sociohistorique, cette étude contribue de manière originale à l’administration publique et à la politique canadienne, en démontrant que les dynamiques politiques jouent un rôle quant à la mobilité des fonctionnaires, bien que la nature de ces dynamiques et l’étendue de leurs effets varient selon les époques, qui présentent des marchés bureaucratiques distincts. / This dissertation studies temporal variances in the relationship between political variables and the mobility of administrative elites in Canada’s provincial bureaucracies. Conceptualizing the association between the government and the bureaucracy as a principal-agent relationship, research in public administration has identified how various political dynamics – such as a transition in the governing party – affects the extent to which governments interfere in the staffing of bureaucratic personnel; removing incumbents and replacing them with persons who are believed to be loyal to government’s policy agenda. This dissertation contributes to this literature by identifying the historical contingencies with which political dynamics effect mobility. Drawing upon Hood and Lodge’s (2006) concept of a Public Service Bargain (PSB), the relationship between political dynamics and mobility is situated within a more precise social-historical context. Rather than approaching political-administrative relationships as universally reflecting the specifications of principal-agent theory – exhibiting a high incidence of goal conflict and information asymmetry – this work claims that the extent to which political dynamics prod governments to strategically dismiss and appoint personnel has varied over time, in tandem with shifts in the contours of political-administrative relationships; specifically, the nature of the bureaucracy’s competency and its loyalty. Primarily using descriptive statistics and logistic regression the association between political variables and mobility is tested with an original dataset of deputy minister turnover in Canada’s provincial bureaucracies between 1920 and 2013. Overall, the empirical evidence supports the conclusion that the effect that political dynamics have on bureaucratic mobility has varied over time across distinct PSBs. Prior to the development of the modern professional bureaucracy, where political-administrative relationships reflected a spoils bargain, transitions in the governing party resulted in increased mobility. Such actions are congruent with a PSB where the nature of governance is of a minimal character; there are no specifications concerning the bureaucracy’s competency; and the bureaucracy’s loyalty is of a partisan nature towards the governing party. Starting in the postwar period and lasting until the 1980s, the association between political dynamics and mobility is significantly reduced. Such is congruent with a Schafferian bargain where governments encourage technical knowledge of policies and a willingness amongst bureaucrats to provide frank counsel to government office holders, regardless of the party in power. Starting in the 1980s however, political dynamics are once again positively associated with mobility. Yet now, not only transitions in party, but all newly elected heads of government lead to increased mobility. This is consistent with a managerial bargain where appointments are used to encourage loyalty to the government’s policy agenda and competency is understood as the ability to manage personnel and resources to realizing the directives dictated by the government. Situating the strategic actions of governments within their social-historical context, this work makes original contributions to the fields of public administration and Canadian politics by showing that when it comes to bureaucratic mobility, political dynamics matter; but which dynamics, and the extent of their effects, vary over time across distinct PSBs.

The ownership structure in Sweden is characterized by a few controlling owners who often base their ownership of a lower capital investment than in many other countries. The separation of ownership and control is determined by control-boosting mechanisms and is a constantly debated topic. These mechanisms are used to control companies without having to bear the bulk of the capital, and the criticism centers around concerns that companies with control-boosting mechanisms are not managed as well as companies without them. The purpose of the study was to examine the use of control enhancing mechanisms and its effect on the market value of Swedish companies on Nasdaq Stockholm. The study adopted a quantitative form with hypotheses testing. The data collection has been made through annual reports of the sample and then statistically tested in SPSS through multiple regression. The use of vote-strong shares was shown to have a strong positive effect on the value of a company. Minor effects proven came from the difference between the largest owner's voting share and capital contribution, and of the percentage of the total votes held by the largest owner. These two, however, counteracted each other in approximately equal amounts. Not offering their vote-strong shares to on the public exchange is suggested to be strongly negative, but this could not be ascertained. Type of ownership and age were both insignificant in their ability to explain company value.

The use of renewable energy as part of the solution for stabilising global warming has been promoted in industrialised countries for the past three decades. In the last ten years, China, a non-democratic and less-developed state, has implemented non-hydro alternative energy sources through top-down, technology-oriented measures and expanded its renewable energy capacity with unprecedented speed and breadth. This phenomenon seems to contradict to the principle of orthodox environmental governance, in which stakeholder participation is deemed as necessary condition for effective policy outcomes. Given that little research has been conducted on environmental politics in an authoritarian context, I first set out to explore the role of the Chinese state in enabling transformation of the renewable energy sector and to understand the ways in which policy elites seek to introduce developmental state and ecological modernisation strategy in the policy area. Second, by adopting principal-agent theory, I explicate how the governance mechanisms have been deployed and how challenges of the expansion of the sector in the governance system with a large territory have being mitigated. Based upon news reports, policy documents, and interviews with 32 provincial officials, business leaders, academic researchers, and NGO practitioners in two subnational governments, I argue that the renewable energy development in China is governed through a hybrid mode of environmental policy model that uses, upon the existing developmental state regime, ecological modernisation as a policy paradigm, which is partially incorporated in the process. Ultimately, I examine in this thesis the possibility of an alternative form of environmental governance in which renewable energy can be diffused in a less-participatory manner, with more direct controls and target-oriented state intervention measures. This thesis challenges the orthodox assumption that the inclusive mode of governance are the only capable form of environmental governance that reaches desired policy outcomes of renewable energy deployment.