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This paper adopts and reviews discretionary disclosure and cheap talk models to analyze risk reporting incentives and their relation to regulation. Given its inherent discretion, risk reporting depends on disclosure incentives. To assess these incentives the analytical models consider risk reporting as an endogenous feature, thereby providing a benchmark to discuss regulatory attempts. Particularly, discretionary disclosure models refer to verified disclosure, e.g., on risk factors or risk management, whereas cheap talk models refer to unverified disclosure, like managerial forecasts on the impact of risk factors. This provides an analytically-based framework for discussion. Unlike prior literature focusing on disclosure cost, I argue that uncertainty of information endowment and issues of credible communication can explain restricted risk reporting observed empirically. Linking regulatory attempts to these restrictions implies that regulation may mitigate the incentives-driven restrictions to some extent, but can have adverse effects on risk reporting. I particularly discuss the link between effective risk monitoring and precision of risk reporting; the ex post assessment and usefulness of managerial forecasts on impacts of risk factors; the claimed decreasing cost of capital by mandatory risk reporting; and the threat of self-fulfilling prophecies. While the discussion has implications for both specific risk reporting requirements and empirical research, overall results suggests not to overestimate the informativeness of risk reporting even in a regulated environment.

<p>Syfte:</p><p>Denna uppsats syftar till att ta reda på hur klädesföretag kan etablera sig på en redan mogen marknad. Detta har belysts genom att studera och analysera tre svenska jeansföretag. Målet var att finna vilka de viktigaste faktorerna är för att etablera klädesföretag på den svenska marknaden.</p><p>Metod:</p><p>Först genomfördes kvalitativa intervjuer med de tre jeansföretagen. Intervjuerna redogjorde för företagens etableringsstrategier samt identiteter, vilka användes som grund för de enkätundersökningar som sedan genomfördes. De kvantitativa enkätundersökningarna av företagens potentiella och befintliga kunder, gav svar på olika faktorers vikt vid köp av jeans. Undersökningen redogjorde även för konsumenternas varumärkesimage och preferens av varumärke.</p><p>Teoretiskt perspektiv:</p><p>Då denna uppsats handlar om ett utbyte mellan två parter, har vi valt att skriva ur såväl ett sälja- som ett köparperspektiv.</p><p>Epiri:</p><p>Empirin innefattar både den information vi fått under intervjuerna med de tre klädesföretagen och informationen från enkätundersökningarna.</p><p>Resultat:</p><p>100 procent av respondenterna anser att byxans utseende är överordnat priset. Företagens varumärken är därav mer eller mindre höginvolverande. Klädesföretag måste på grund av detta först och främst erbjuda en tilltalande produkt för att lyckas etablera sig. På dagens mogna marknad är det dock inte tillräckligt att konkurrera med klassisk marknadsmix även om denna kombineras med nätverksteori. Klädesföretag som vill lyckas etablera sig på den svenska marknaden måste arbeta med varumärkesbyggande processer, inriktade mot att skapa god image.</p> / <p>Purpose:</p><p>This study aims to investigate how jeans clothing companies can establish themselves on an already mature market.</p><p>This has been performed by studying and analysing three Swedish jeans companies. The goal was to establish what the most important factors were in establishing a jeans clothing company on the Swedish market.</p><p>Methodology:</p><p>Qualitative interviews where made with three jeans companies. The interviews gave a description of both the companies establishing strategies as well as their identities. These where later used as an underline for a quantitative questionnaire survey directed towards the companies potential and existing customers. The questionnaire gave answers concerning important customer factors when buying jeans. The survey also described the consumers brand image and their preference in brands.</p><p>Theoretical perspectives:</p><p>The study is based on different theories and methods that seems relevant for the purpose of the study.</p><p>Empirical Foundations:</p><p>The empiri consists both of the information received through the interviews with the three companies and the result from the quantitative questionnaire survey.</p><p>Conclusions:</p><p>100 percent of the respondents rate the appearance of the jeans as more important than the price. The company trademarks are therefore more or less highly involving. The clothing companies must, due to this, first and foremost offer an appealing product to establish themselves. In today’s mature market it isn’t enough to compete with a classic market mix even if it is combined with a network theory. Jeans companies that want to establish themselves on the Swedish market must do so using trademark building processes, designed towards creating a good image.</p>

The existing literature on information disclosure commonly assumes full commitment to truthful disclosure and therefore revelations are always credible, which can be quite unrealistic in many circumstances. This thesis mainly contributes to the literature by studying information disclosure in the form of cheap-talk in auctions and monopoly pricing, which allows for mis-reporting and false disclosure. The thesis is composed mainly of three research papers. The first paper (Chapter 2), also the major chapter of this thesis, investigates cheap-talk information disclosure in auctions, where bidders' preferences are horizontally differentiated. The seller may reveal information of product attributes before the auction, and the disclosure policy is characterized by a partition of the attribute space. In a symmetric setting, I first show that informative equilibria reveal the feature that more precise information is provided for less popular product attributes. Second, I prove an equilibrium existence theorem that an informative equilibrium can be supported by an information partition of any degree, as long as the number of bidders is sufficiently large. And finally, the optimal disclosure policy reveals a complementarity relationship between the number of bidders and the optimal degree of equilibrium partitions. In this chapter, optimal information structure is endogenously determined. In the second paper (Chapter 3), I turn to study how a monopoly seller should reveal a product's horizontal attributes, when consumer preferences conform to a mixture distribution. I show that the optimal disclosure policy largely depends on the characteristics of the mixture distribution. Specifically, when consumer preferences are highly heterogenous, it is better for the seller to reveal information and serve different groups of consumers separately. And when the preference distribution becomes more asymmetric, cheap-talk disclosure is more likely to be dominated by no disclosure at all. In this chapter, information structure is taken as given. The third paper (Chapter 4) studies optimal regulation of risk-averse producers, in a setting of complementary production with independent cost realization. The production can be organized in the form of either component, or integrated production. I show in this paper that the relative virtues of these two forms of production depend on the degree of risk aversion of the producers.

This thesis aims to analyze and consequently compare conditions which are currently offered by the Czech Republic and the Philippines to companies in the field of international outsourcing. The first part gives attention to the term outsourcing itself. Above all, it enlightens the extensity of elements, which are influential in decisions of corporations when choosing the country to be outsourced from. The next two consequential chapters are concerned with the application of all aspects of outsourcing in both of these two in many ways different states. The final part evaluates and confronts these countries in light of the described factors as per SWOT analysis. Herewith, it outlines steps which could be taken to improve the present status of matters, which have been ranked among threats, eventually waeknesses.

近年來政府面對關於揭露環境污染物的危險的爭論日趨嚴重。我們特提出政治經濟學中的二重要議題。一是對於在環境政策資訊不完全的情況，選民在考慮其做錯決策之機會成本後，將如何影響其投票決策；追求社會福利極大的政策制定者會如何制定最適的投票通過比例；以及政策制定者如何藉由專家的宣告來改變選民對環境政策的預期報酬，進而達到三方的均衡。二是我們將進一步討論關於選民政策與意識形態的策略動機。當有關政黨效率的資訊不完全時，選民在收到專家對政黨效率的宣告後，如何調解其政策及意識形態，以達到均衡。採用廉價談判的賽局 (cheap talk game) 理論提供解決的思考方向，探討政策制定者、選民、專家間的關係，政府的策略性溝通是否會有效，提供一理論模型的解釋。藉探討種種均衡存在的條件，盼能為議題甚或更一般化的政府政策，提供一理論依據，其能給予政府、社會一些參考與貢獻。

Syfte: Denna uppsats syftar till att ta reda på hur klädesföretag kan etablera sig på en redan mogen marknad. Detta har belysts genom att studera och analysera tre svenska jeansföretag. Målet var att finna vilka de viktigaste faktorerna är för att etablera klädesföretag på den svenska marknaden. Metod: Först genomfördes kvalitativa intervjuer med de tre jeansföretagen. Intervjuerna redogjorde för företagens etableringsstrategier samt identiteter, vilka användes som grund för de enkätundersökningar som sedan genomfördes. De kvantitativa enkätundersökningarna av företagens potentiella och befintliga kunder, gav svar på olika faktorers vikt vid köp av jeans. Undersökningen redogjorde även för konsumenternas varumärkesimage och preferens av varumärke. Teoretiskt perspektiv: Då denna uppsats handlar om ett utbyte mellan två parter, har vi valt att skriva ur såväl ett sälja- som ett köparperspektiv. Epiri: Empirin innefattar både den information vi fått under intervjuerna med de tre klädesföretagen och informationen från enkätundersökningarna. Resultat: 100 procent av respondenterna anser att byxans utseende är överordnat priset. Företagens varumärken är därav mer eller mindre höginvolverande. Klädesföretag måste på grund av detta först och främst erbjuda en tilltalande produkt för att lyckas etablera sig. På dagens mogna marknad är det dock inte tillräckligt att konkurrera med klassisk marknadsmix även om denna kombineras med nätverksteori. Klädesföretag som vill lyckas etablera sig på den svenska marknaden måste arbeta med varumärkesbyggande processer, inriktade mot att skapa god image. / Purpose: This study aims to investigate how jeans clothing companies can establish themselves on an already mature market. This has been performed by studying and analysing three Swedish jeans companies. The goal was to establish what the most important factors were in establishing a jeans clothing company on the Swedish market. Methodology: Qualitative interviews where made with three jeans companies. The interviews gave a description of both the companies establishing strategies as well as their identities. These where later used as an underline for a quantitative questionnaire survey directed towards the companies potential and existing customers. The questionnaire gave answers concerning important customer factors when buying jeans. The survey also described the consumers brand image and their preference in brands. Theoretical perspectives: The study is based on different theories and methods that seems relevant for the purpose of the study. Empirical Foundations: The empiri consists both of the information received through the interviews with the three companies and the result from the quantitative questionnaire survey. Conclusions: 100 percent of the respondents rate the appearance of the jeans as more important than the price. The company trademarks are therefore more or less highly involving. The clothing companies must, due to this, first and foremost offer an appealing product to establish themselves. In today’s mature market it isn’t enough to compete with a classic market mix even if it is combined with a network theory. Jeans companies that want to establish themselves on the Swedish market must do so using trademark building processes, designed towards creating a good image.

abstract: This dissertation describes a novel, low cost strategy of using particle streak (track) images for accurate micro-channel velocity field mapping. It is shown that 2-dimensional, 2-component fields can be efficiently obtained using the spatial variation of particle track lengths in micro-channels. The velocity field is a critical performance feature of many microfluidic devices. Since it is often the case that un-modeled micro-scale physics frustrates principled design methodologies, particle based velocity field estimation is an essential design and validation tool. Current technologies that achieve this goal use particle constellation correlation strategies and rely heavily on costly, high-speed imaging hardware. The proposed image/ video processing based method achieves comparable accuracy for fraction of the cost. In the context of micro-channel velocimetry, the usability of particle streaks has been poorly studied so far. Their use has remained restricted mostly to bulk flow measurements and occasional ad-hoc uses in microfluidics. A second look at the usability of particle streak lengths in this work reveals that they can be efficiently used, after approximately 15 years from their first use for micro-channel velocimetry. Particle tracks in steady, smooth microfluidic flows is mathematically modeled and a framework for using experimentally observed particle track lengths for local velocity field estimation is introduced here, followed by algorithm implementation and quantitative verification. Further, experimental considerations and image processing techniques that can facilitate the proposed methods are also discussed in this dissertation. Unavailability of benchmarked particle track image data motivated the implementation of a simulation framework with the capability to generate exposure time controlled particle track image sequence for velocity vector fields. This dissertation also describes this work and shows that arbitrary velocity fields designed in computational fluid dynamics software tools can be used to obtain such images. Apart from aiding gold-standard data generation, such images would find use for quick microfluidic flow field visualization and help improve device designs. / Dissertation/Thesis / Ph.D. Electrical Engineering 2011

Submitted by Andrea Virginio Machado (andrea.machado@fgv.br) on 2008-09-18T18:43:30Z No. of bitstreams: 1 063202007_Dissertação_Francisco_Junqueira_Costa.pdf: 351812 bytes, checksum: 1cbedf11fe59a9c983ffc29b89970b47 (MD5) / Approved for entry into archive by Francisco Terra(francisco.terra@fgv.br) on 2008-09-18T19:24:59Z (GMT) No. of bitstreams: 1 063202007_Dissertação_Francisco_Junqueira_Costa.pdf: 351812 bytes, checksum: 1cbedf11fe59a9c983ffc29b89970b47 (MD5) / Made available in DSpace on 2008-09-18T19:24:59Z (GMT). No. of bitstreams: 1 063202007_Dissertação_Francisco_Junqueira_Costa.pdf: 351812 bytes, checksum: 1cbedf11fe59a9c983ffc29b89970b47 (MD5) / This article studies a model where, as a consequence of private information, agents do not have incentive to invest in a desired joint project, or a public good, when they are unable to have prior discussion with their partners. As a result, the joint project is never undertaken and inefficiency is observed. Agastya, Menezes and Sengupta (2007) prove that with a prior stage of communication, with a binary message space, it is possible to have some efficiency gain since 'all ex-ante and interim efficient equilibria exhibit a simple structure'. We show that any finite message space does not provide efficiency gain on the simple structure discussed in that article. We use laboratory experiments to test these results. We find that people do contribute, even without communication, and that any kind of communication increases the probability of project implementation. We also observed that communication reduces the unproductive contribution, and that a large message space cannot provide efficiency gain relative to the binary one.

This research was conducted in order to enable primary producers to maximize the use of cheap roughage sources while still maintaining body weight during dry winter months when the crude protein (CP) content of roughage sources are at a minimum. The data obtained from this study will give an economic advantage when formulating supplements to be used during this time of the year. The aim of this study was to determine the optimum level of non-protein-nitrogen (NPN) and fermentable metabolizable energy (FME) to increase microbial protein synthesis, optimize rumen fermentation and increase digestibility of dry matter (DM) and neutral detergent fibre (NDF) in sheep fed on poor quality forages. A metabolic trial was conducted where intake of DM, organic matter (OM), NDF and CP was recorded; rumen volatile fatty acid (VFA) production was recorded as well as rumen pH over the different treatments. Microbial protein synthesis was determined by analysing purine derivatives in the urine. An in situ trial was also done to determine changes in ruminal digestibility of DM and NDF on different treatments. Five treatments were used. Treatment 1 consisted of NPN and FME balanced according to the NRC (2007) requirements for a 50kg whether, and served as a control. Treatment. Treatment 2 consisted 15% less NPN than control but the same amount of FME than control while treatment 3 consisted 15% more NPN than the control but the same amount of FME as the control treatment. Treatment 4 consisted of 15% less FME, but the same amount of NPN, than the control treatment, while treatment 5 consisted of 15% more FME, but the same amount of NPN than the control treatment. A 5 x 5 Latin square design was used in this study. Five Merino wethers were allowed to adapt to supplements which were infused directly into the rumen at 9:00 and 15:30 every day. After adaptation animals were placed in individual metabolic crates for three and given three day to adapt to crate environment. After the initial three days the sampling period commenced. Results obtained indicated that treatment had no effect on DM, OM, NDF and water intake but intake of CP was significantly increased for treatment 3 when compared to treatment 2. When intake of DM, OM, NDF and CP, related to metabolic bodyweight (W0.75) was calculated, treatment 5 resulted in lower intake of both water and NDF as compared to treatment 4. Differences between levels of FME and NPN in this study was insufficient to have an influence on DMD, OMD or NDFD however, CP degradability was increased for treatment 3 and treatment 5. Ruminal pH was unaffected by treatment. Increased levels of NH3-N for treatment 3 when compared to treatment 1 and 2, was observed. Both treatments 2 and 5 resulted significant decreases in rumen NH3-N. Treatments had no effect on the proportions of VFA produced or on the Acetate to Propionate produced ratio. Treatment 3 caused an improvement in CP an N balance when compared to treatment 1 and 2. Treatment 3, when compared to treatment 1 and 2, lead to an increase in N balance/kgW0.75. Treatment 5 caused a higher microbial protein synthesis in contrast to treatment 4. Results from the in situ trial showed a decreased a-value (solubility) for the NDF fraction of treatment 3 when compared to treatment 2. The rate of degradability (c) of both DM and NDF was increased for treatment 2 compared with treatment 3. The b, ED and PD values showed no response to treatment. / Dissertation (MSc Agric)--University of Pretoria, 2013. / gm2014 / Animal and Wildlife Sciences / unrestricted