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Darbe nagrinėjama oficialaus siūlymo teikimo ir įgyvendinimo teisinio reguliavimo problematika Lietuvoje ir Europos Sąjungoje, analizuojama teismų praktika bei teisionio reguliavimo perspektyvos. / In this paper author analyses issues in taking and implementing takeover bid i Lithuania and in European Union. Legal practice and perspectives in regulation is analized.

Thèse (M.Sc.)--Université Laval, 2005. / Titre de l'écran-titre (visionné le 28 mars 2007). Bibliogr.

Made available in DSpace on 2014-06-12T16:26:38Z (GMT). No. of bitstreams: 2 arquivo2245_1.pdf: 3016959 bytes, checksum: 5ba8b76dfa23d09a352d69241ed3364d (MD5) license.txt: 1748 bytes, checksum: 8a4605be74aa9ea9d79846c1fba20a33 (MD5) Previous issue date: 2008 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / O objetivo desta tese é compreender o processo de difusão da agenda urbana das agências multilaterais de desenvolvimento urbano, no contexto de paradigmas internacionais de desenvolvimento, analisando o caso brasileiro pelo estudo de caso da conformação da agenda urbana da cidade do Recife. Esta tese analisa o fenômeno nas estratégias de desenvolvimento das agências para o Brasil e estuda dois programas em Recife, o PROMETRÓPOLE e o Habitar Brasil BID Beira Rio; com recursos do Banco Mundial e do BID, respectivamente. O estudo elucida como a difusão acontece na escala local e por que, uma vez que pouco se sabe quanto ao processo de interação entre atores internacionais e domésticos, no processo de negociação, e sobre os mecanismos de influência na inovação das agendas. Este estudo adotou uma abordagem de pesquisa qualitativa, utilizando dados primários provenientes de entrevistas semi-estruturadas; realizadas com diversos atores envolvidos no processo de difusão da agenda urbana na escala local em Recife. Além de profissionais que trabalham no Banco Mundial e no BID em Washington-DC. A análise qualitativa dos dados permitiu estabelecer relações entre a influência das agências multilaterais de desenvolvimento na difusão de políticas na escala local. Pode-se concluir que o processo de difusão é multidirecional, e o sucesso aparente dos programas, nos casos estudados, dependeu do grau de domínio e conhecimento sobre os problemas locais e possibilidades de negociações por parte dos atores locais; que os coloca em situação favorável para barganhar com as agências multilaterais

The purpose of this thesis was to test the hypothesis that multiple-listing of equity options leads to lower bid-ask spreads because of increased competition. This competition can come in two forms, actual or potential, both of which are theorized to have the same effect on spreads. A model of the determinants of the bid-ask spread was formulated. Separate tests were conducted on 1985 and on 1992 CBOE data. The first test arose from the fact that in 1985, only a certain number of options were multiple-listed, or eligible to be multiple-listed. Spreads for multiple-listed options were conjectured to be below spreads for single-listed options across low levels of volume, and equal to single-listed option spreads at higher levels of volume. The evidence for this was mixed based on several regressions with different functional forms. The second test arose from the fact that in 1992, because of an SEC rule change, all options were eligible to be multiple-listed but still only a few were. Spreads for multiple-listed options were conjectured to be equal to spreads for single-listed options because the single-listed options had the potential to become multiple-listed. Again, the evidence for this was mixed. It appears that the actual and potential competitive effects from multiple-listing had yet to come to fruition as of 1992. Further testing revealed that, on an option-by-option basis, spreads generally rose from 1985 to 1992. / Master of Arts

La dérégulation de l'oncogène c-myc sensibilise les cellules à la mort programmée induite par le cisplatine en agissant sur la voie mitochondriale de l'apoptose. Les membres de la famille de protéines Bcl-2 sont essentiels à la régulation de ce sentier apoptotique. Parmi ceux-ci on retrouve une sous-famille de protéines pro-apoptotiques incluant Bid, Bad, Bim, Noxa et PUMA qui ont comme caractéristique de posséder un domaine BH3 unique. Suite à divers stress cellulaires, ces protéines BH3 interagissent avec les autres membres de la famille Bcl-2 via le domaine BH3 et favorisent ainsi la sortie du cytochrome c de la mitochondrie et l'initiation de la cascade des caspases. / L'influence de la dérégulation de l'oncogène c-myc sur l'expression, la phosphorylation et/ou localisation intracellulaire des protéines BH3 a donc été analysée. Ainsi, il semble que Bid et Noxa ne soient pas impliquées car ni leur expression ni leur localisation intracellulaire sont influencées par c-Myc. Par contre, c-Myc augmente légèrement l'expression de Bim et module sa localisation intracellulaire. Les résultats démontrent également que la phosphorylation de Bad est négativement régulée par c-Myc, mais que son expression et sa localisation en sont indépendantes. Finalement, l'expression de PUMA, tant au niveau de l'ARNm que de la protéine, est augmentée par c-Myc, mais cette protéine ne semble pas jouer de rôle fonctionnel dans cette apoptose. Ainsi, au moins trois protéines BH3 sont modulées par c-Myc mais aucune n'a pu être identifiée clairement comme étant impliquée dans l'apoptose dépendante de c-Myc suite à un traitement au cisplatine.

<p>Bid/no-bid decisions in international construction markets are considered difficult, being characterized by its uncertainties and complexities, especially in today’s highly competitive market. Additionally, it is claimed by some authors that many companies still utilize tools and methods that are fragmented, incomplete and rudimentary based on “personal intuition” or “previous-experience-based” (Han and Diekmann 2001a; Han and Diekmann 2001b). On the other hand, other authors emphasize that most of the bid/no-bid models found in the literature ‘remained in academic circles and did not find their way into the practical world’ (Wanous et al, 2000, pp.457). Thus, the focus of this work is to make a contribution towards the reduction of the actual gap between theoretical and practical bidding decision models and contribute to the development of a consistent model that could satisfactorily support the bid/no-bid decision for international construction projects. This way, an investigation of the practical bid/no-bid decision models is performed combined with an evaluation of the degree of applicability of theoretical models in practice. The research is based on a multiple case study analysis. The results suggest that although bidding decisions are still based on subjective judgments, the process applied by companies is formal and highly structured. It is a defined routine with a clear sequence of steps to be followed in which relevant information is analyzed by experienced staff. Additionally, it is designed to be followed by all bids in the companies, including formal presentations for the top management of the companies, who are actively involved in the decision. However, the results also reinforce that although some features of theoretical models can be observed in practice, none of them is being fully employed. Thus, it is possible to affirm that, although the current theoretical models bring some important highlights to bidding situations, they are still not fully suitable for the international construction environment. An important contribution can be done not only to the academic field but also to managerial one if future research focuses on the improvement of the practical models.</p>

Bid/no-bid decisions in international construction markets are considered difficult, being characterized by its uncertainties and complexities, especially in today’s highly competitive market. Additionally, it is claimed by some authors that many companies still utilize tools and methods that are fragmented, incomplete and rudimentary based on “personal intuition” or “previous-experience-based” (Han and Diekmann 2001a; Han and Diekmann 2001b). On the other hand, other authors emphasize that most of the bid/no-bid models found in the literature ‘remained in academic circles and did not find their way into the practical world’ (Wanous et al, 2000, pp.457). Thus, the focus of this work is to make a contribution towards the reduction of the actual gap between theoretical and practical bidding decision models and contribute to the development of a consistent model that could satisfactorily support the bid/no-bid decision for international construction projects. This way, an investigation of the practical bid/no-bid decision models is performed combined with an evaluation of the degree of applicability of theoretical models in practice. The research is based on a multiple case study analysis. The results suggest that although bidding decisions are still based on subjective judgments, the process applied by companies is formal and highly structured. It is a defined routine with a clear sequence of steps to be followed in which relevant information is analyzed by experienced staff. Additionally, it is designed to be followed by all bids in the companies, including formal presentations for the top management of the companies, who are actively involved in the decision. However, the results also reinforce that although some features of theoretical models can be observed in practice, none of them is being fully employed. Thus, it is possible to affirm that, although the current theoretical models bring some important highlights to bidding situations, they are still not fully suitable for the international construction environment. An important contribution can be done not only to the academic field but also to managerial one if future research focuses on the improvement of the practical models.

In this paper, we use the high frequency trading data of New York Stock Exchange to analyze the bid-ask spread components. It is found that there is an exponential relationship between the log returns of quoted midpoints and the trade volume. We also observe a negative linear correlation between the changes of quoted depth and the trade volume. Furthermore, changes of the quoted ask depth and the quoted bid depth are asymmetric due to the trading direction. Furthermore, statistical quality control charts, p-charts, are built for fixed number of trades to monitor unusual trades entering the market. Finally, logistic regression models are established to predict the probabilities of unusual trades entering the market based on the quotes and the quoted depth adjustments of the market makers.

One of the main sources of risks that influence potential project success is the project selection decision, especially for international contractor organisations looking for an opportunity to invest in public private partnership projects in foreign countries. Project selection decision, which involves the bid/no bid decision, is a critical investment decision needs to be made based on concrete project evaluation and risks identifications; where negative-risk is in place if there is an absence of a rational basis at the time of making such a decision. Thus, negative consequences of such a decision might occur. The bid/no bid decision necessitates an effective project evaluation and risk identification from various aspects with consideration of several internal and external factors in order to achieve project success. Bidding for PPP projects overseas without efficiently applying risk management tools and techniques to evaluate both the project and the organisation’s current situation and capability might result either in large losses or consumption of time and resources that could have been avoided. The prime aim of this research is to develop a strategic investment decision model from the perspective of risk management, in order to facilitate the decisions of international contractors who intend to invest in public private partnership projects in the Saudi Arabian construction industry. This aim requires establishing a link between the risk management process and the organisation's strategy and its current situation, and identifying risks involved in the bid/no bid decision, PPP projects, and international investment in order to provide an effective computer-based model that is capable of organising the bid/no bid decision in a rational, logical, flexible, and user-friendly manner. The pragmatic triangulation philosophy approach is adopted as the best research methodology that allows two types of research strategy to be combined in order to accomplish the research aim and objectives. Thus, the methods used are qualitative interviews and a quantitative questionnaire-based survey. The findings of this research identified critical success factors of international contractors’ bidding decisions for PPP projects in the Saudi Arabian construction industry. In particular, seventy-seven factors affecting the bid/no bid decision were used as a foundation for development of a Strategic Risk Management Decision Model (SRMDM), available at www.srmdm.com.