[pt] A escolha de uma carreira é uma das decisões mais importantes na vida de uma pessoa, e é feita em um ambiente repleto de incertezas em relação ao futuro. Este trabalho analisa o aspecto financeiro da escolha entre uma carreira numa empresa privada e uma carreira em um órgão público, com ingresso por meio de um concurso. A análise pelo tradicional fluxo de caixa descontado apresenta uma série de limitações por não captar aspectos como a incerteza e a flexibilidade da tomada de decisão. Assim é aplicada uma abordagem segundo a teoria das Opções Reais, que se mostra mais adequada a este caso, pois permite que a flexibilidade de escolha seja modelada e considerada na escolha de carreira de um indivíduo. Neste estudo, os ganhos em uma empresa privada são modelados por meio de um processo estocástico enquanto a carreira pública tem um valor determinístico. Existe flexibilidade de data em relação ao ingresso na carreira pública, porém esta decisão é irreversível. Os resultados sugerem que a opção de ingressar na carreira pública pode ter valor significativo em relação à carreira privada. / [en] Choosing a career is one of the most important decisions in a person s life, and is done in an environment full of uncertainties about the future. This study analyzes the financial aspect of a career choice between a private company and a career in the government, with admission through a contest. The analysis through the traditional discounted cash flow would bring a lot of limitations, not capturing aspects such as uncertainty and flexibility of decision making. So real options theory approach is applied, which appears more appropriate in this case because it allows the flexibility of choice to be modeled and considered in the choice of an individual s career. In this study earnings in a private company are modeled through a stochastic process while public career has a deterministic value. There is flexibility regarding the date of entry into public career, but this decision is irreversible. The results suggest that the option of joining the public career may have significant value in relation to private career.

[pt] Determinar a viabilidade e a prioridade de investimentos potenciais é um passo crítico para a tomada de decisões no âmbito empresarial. O método mais difundido e aceito mundialmente para análise de projetos é o Fluxo de Caixa Descontado (FCD), onde o valor do projeto é determinado pelo Valor Presente Líquido (VPL). No entanto, o FCD não reflete o valor da ação gerencial, maximizadora de resultados, assumindo implicitamente que a firma detém passivamente seus ativos reais (projetos). Sendo este método, portanto, muito limitado para tratar de incertezas e flexibilidades e levando freqüentemente a decisões equivocadas. Considerado por muitos renomados autores um novo paradigma na avaliação de investimentos, a Teoria de Opções Reais (TOR) veio complementar a teoria do FCD, exercendo um papel de ponte entre a intuição estratégica e o rigor analítico. Este trabalho tem por objetivo não somente apresentar algumas das várias flexibilidades existentes em projetos de incorporação imobiliária, como também mostrar como calcular seu valor de forma simples, intuitiva e adequada aos principais problemas de investimento enfrentados por empresas incorporadoras no seu dia a dia. A abordagem de avaliação de investimentos utilizando a TOR possibilita o entendimento das flexibilidades e incertezas inerentes ao processo de incorporação, auxiliando na elaboração de contratos com terceiros e provendo preciosos insights sobre negócios e investimentos estratégicos cada vez mais importantes devido ao acelerado ritmo de mudança econômica. / [en] In an enterprise scope, one critical step in the decision making process is the determination of potential investments feasibility and priority. Worldwide the most accepted method for evaluating a project is the Discounted Cash Flow (DCF), where the value of the project is given by the Net Present Value (NPV). However, the DCF does not reflect the value of managerial action, which maximizes results, assuming implicitly that the firm manages its real assets (projects) passively. Therefore, this method is too limited to deal with uncertainties and flexibilities and often leads to wrong decisions. Considered by many respected authors as a new paradigm in investment valuation, the Real Options Theory is viewed as a complement to standard DCF analysis which bridges the gap between strategic intuition and analytical rigor. This work aims not only to introduce some of the many flexibilities that exist in real estate development projects, but also to show how to evaluate projects in a simple and intuitive manner suitable for the investment decisions that developers face day by day. The Real Options approach provides the understanding of the flexibilities and uncertainties inherent to the project development process, assisting in contract making with third parties, as well as providing precious insights about businesses and strategic investments, insights that are more important than ever given the rapid pace of economic change.

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Cette recherche a pour objectif la mise en application d’approches théoriques et méthodologiques en vue de l’interprétation des séquences [N1N2] N en français, avec une étude contrastive des séquences similaires en persan. La thèse se divise en deux grandes parties. La première partie apporte une vue d’ensemble historique et linguistique sur les mots composés en présentant les théories anciennes et modernes. Elle aborde l’histoire de la composition dans les langues sanscrite, grecque et latine, puis les différentes approches de la langue française, syntaxiques et morphologiques, jusqu’aux approches les plus récentes de la linguistique. À la fin de cette partie, on propose un aperçu des études sur la composition en persan. Cette première partie nous permet d’avoir une vision claire de la problématique des noms composés. Elle sert de base à une réflexion sur les critères d’analyse pertinents pour l’étude de nos données, en nous permettant d’élaborer une approche multidimensionnelle à la frontière entre la syntaxe, la morphologie et la sémantique. La deuxième partie présente deux approches principales pour l’analyse et l’interprétation des séquences nominales N1N2 en français (corpus dictionnairique et non dictionnairique) et des séquences similaires en persan. La première approche, celle d’Arnaud & Renner, est une classification morpho-sémantique et référentielle des séquences N1N2, en deux catégories principales appelées subordinative et coordinative. La seconde approche, proposée par Noailly, consiste à analyser les N1N2 dans le cadre de quatre classes interprétatives dont la qualification, la complémentation, la coordination, et l’identification. Elle permet d’interpréter les séquences en voie de lexicalisation et les séquences non-dictionnairiques.Cette étude nous permet d’analyser les suites binominales d’un point de vue multifonctionnel, de comprendre les mécanismes de l’irrégularité interprétative et de montrer qu’un certain nombre de séquences sont aptes à produire deux ou plusieurs interprétations potentielles. / This research has for objective the application of theoretical and methodological approaches to the interpretation of [N1N2] N sequences in French, with a contrastive study of the similar sequences in Persian.The thesis divides in two major parts. The first part provides a historic and linguistic overview of binominal compounds alongside the old and modern theories in this field. It deals with the history of composition in Sanskrit, Greek and Latin as well as different syntactic and morphological aspects of the French language, until the most recent approaches in the modern linguistics. At the end of this part, the studies on the composition in Persian have been reviewed. This historical vision of the subject can be used as a basis for discussing the relevant criteria of analysis for the study of our data, by allowing us to develop a multidimensional and inter-modular approach to the syntax, morphology and semantics. The second part presents two main approaches to the analysis and interpretation of nominal N1N2 sequences in French (dictionary based and non-dictionary based corpora) and the similar sequences in Persian. The first approach of Arnaud & Renner is a morpho-semantic and referential classification of N1N2 sequences in two main categories.of subordinative and coordinative compounds. The second approach, proposed by Noailly, consists in analysis of the N1N2 combinations within the framework of four interpretative classes including qualification, complementation, coordination, and identification. These two models also make the interpretation of the sequences that are in the process of lexicalization as well as those that are not entered the dictionnaries yet possible.This study allows us to analyze binominal sequences from a multifunctional point of view, to understand the mechanisms of the interpretative irregularity, and to show that a number of sequences are capable of producing two and more potential interpretations.

This master thesis focuses on the changes in domestic and foreign policy during the presidency of Michelle Bachelet in Chile (2006-2010). The goal of this study is to find out whether systemic changes in domestic politics and/or reorientation in foregin policy have taken place within the regional shift to the left. The paper is divided into four logically connected chapters. The conclusion is that, despite several partial changes in domestic sphere and a major emphasis in regional aspects of foreign policy, no aforementioned profound changes have occurred.

This study has looked at how the diversity of representatives’ backgrounds changed after the introduction of the Binominal parity vote in the French local elections. The aim was to contribute to our understanding of the impact of gender quotas in other dimensions than gender. Another aim was to explore the workings of the Binominal parity vote, which has a unique design and obligates candidates to run as pairs, constituting of one man and one woman. The diversity of each local council in 2011 and 2015 was measured with the Herfindahl-Hirschman Index (HHI). By looking at the changes in HHI, the study has shown that the diversity of representatives and candidates has increased in terms of age and profession, but decreased in terms of party representation. The exact workings of the mechanisms behind the changes have not been established, but some preliminary conclusions have been made. The relationship between the gender quota’s effectiveness and the change in diversity is strong, but statistically insignificant. Societal gender differences cannot be the sole driver of the changes, as the diversity increased among both women and men. If the increased district magnitude from one to two contributed to the increase in diversity, it was not through the strategic matching of representatives, as they are shown to be almost randomly matched.

L'émergence d'invendus constitue un phénomène de première importance. En effet, il n'y a pas d'entreprise sans invendus. C'est pourquoi les entreprises souhaitent éliminer les invendus en fin de période de vente. Dans ce cadre une nouvelle problématique émerge : comment valoriser un stock d'invendus et optimiser son déstockage ? C'est l'objet du travail doctoral que de répondre à cette question fondamentale du point de vue de la science économique. Pour cela, il faut tout d'abord déterminer à quel prix une firme peut-elle déstocker ses invendus et ensuite dé-terminer quand doit-elle avoir recours au marché du déstockage ou aux soldes directes ? Cette thèse consacre une première partie à un survol de la littérature,à la fois en management et marketing, mais surtout en sciences économiques. La seconde partie propose un modèle original de valorisation des invendus qui adapte en microéconomie les méthodes de couvertures utilisées en finance, notamment les options, dans le cas où la demande est incertaine. Il est montré d'un point de vue théorique qu'il est possible de proposer une couverture contre le risque d'invendus.D'une part la théorie est adaptée au cas de l'approvisionnement, et d'autre part au cas des invendus. Des simulations chiffrées illustrent comment fonctionne concrètement cette méthode dans chacun des cas. La troisième partie est plus générale et développe deux modèles originaux inter-temporels dans le cadre d'un marché monopolistique. Il y a deux types de consommateurs, ceux qui sont sensibles à l'étalage des biens, et ceux qui sont insensibles à cet étalage. Les consommateurs sensibles à l'étalage, choisissent la part qu'ils achètent de cet étalage, cependant que le monopole choisit à la fois le prix et l'étalage. Que la demande soit certaine ou incertaine, il émerge toujours un stock d'invendus. Le monopole peut le revendre, soit directement aux consommateurs insensibles à l'étalage, soit à une firme de déstockage. L'endogénéité du marché du déstockage est alors étudiée. / Since there is not a firm without a stock of unsold goods, the study of this phenomenon is an issue of great importance. Indeed, firms face the stock of unsold goods that they want to clear at the end of the market period. The latter has an impact on not only on the firm's production process, but also on the economy growth. In this context, how to value the stock of unsold goods and when should the firm clears it ? This doctoral work aims to answer to this fundamental question from the standpoint of economics. For this purpose, we must first determineat which price a firm can clear its stock of unsold goods and then determine when it should have recourse to selling-off market or clearance sales ? The first part of this thesis is dedicated to a review of the literature, both related to management and marketing science, but also to economics. The second part focuses on an original model of unsold goods' stock valuation which is adapted to the microeconomic hedging methods used in finance (including options where the demand is uncertain). Results show that it is possible to provide a hedge against the risk of a stockof unsold goods. On the one hand, the theory is adapted to the case of supply and on the other hand, it fits the case of a stock of unsold goods. From the theoretical point of view, the results of numerical simulations illustrate the way this method works in practice for different cases. The third part is more general since it introduces two intertemporal original models under the monopolistic market structure.There are two types of consumers, depending on the degree of their sensitiveness to the display of goods (those who are sensitive versus those who are not). Consumers who are relatively strongly sensitive to the display of goods choose to buy apart from it. Furthermore, the monopoly chooses both the price and the quantityof displayed goods in order to maximize its profit. Under certain or uncertain demand,it always emerges a stock of unsold goods. The monopoly can sell the stockof unsold goods, either directly to consumers who are insensitive to the display ofgoods, or to the selling-off firm. Endogenous selling-off market is then studied.