O crescimento mundial e na taxa de investimento direto no exterior no ano de 2004 foram impulsionados pelas economias emergentes. Até 2050, o grupo de países BRIC (Brasil, Rússia, Índia e China) poderá superar o atual G6. Nesse contexto, o presente trabalho tem como objetivo contribuir para o avanço do conhecimento sobre internacionalização de empresas do Brasil com foco na criação de subsidiárias de produção no exterior. A partir de um estudo de caso, procura-se descrever o processo de internacionalização de uma multinacional brasileira, identificar o valor explicativo do modelo clássico de internacionalização, bem como promover a discussão sobre competências da organização e cultura relacionadas com esse processo. Ainda há poucas pesquisas sobre criação de subsidiárias de produção por empresas brasileiras e suas competências, por isso, este trabalho é exploratório e se destina a gerar subsídios para estudos subseqüentes. / The growth in the world economy and foreign direct investment in 2004 resulted from the growth in emerging economies. By 2050 the BRIC countries (Brazil, Russia, India and China) may surpass the current G6. In this context, this study has been developed to support the progress of the knowledge available on internationalization of Brazilian enterprises with focus on the establishment of production subsidiaries abroad. By developing a case study, the process of internationalization of a Brazilian multinational firm with subsidiary in a foreign country has been described, as well as driven a debate on organizational competencies and culture in this process. Research on the process of creating plants abroad by Brazilian enterprises and their competencies are still very limited so this is a exploratory study that provides materials for future studies.

L'ordre public économique sociétaire est défini comme l'ensemble des règles de droit impératif et de principes d'ordre public qui jouent un rôle dans la structuration et l'organisation juridique des sociétés et la limitation de la liberté des particuliers dans cette structuration et organisation; les sociétés sont vues dans cette perspective comme les expressions juridiques des entreprises, organisations socio-économiques impliquant une multiplicité d'intérêts, mais aussi comme des « lieux » d'organisation du pouvoir privé économique, ne pouvant par conséquent être laissées absolument au jeu de la liberté contractuelle, notamment pour ce qui concerne les formes sociétaires les plus développées. Sous le terme français de montages on peut par contre regrouper des efforts de l'autonomie privée d'exploiter au maximum les marges de liberté en droit des sociétés, des efforts qui souvent se meuvent vers les limites du licite ou même poursuivent des finalités sans aucun doute illicites. Les montages peuvent être définis dans leurs rapports avec l'ordre public économique sociétaire, comme des efforts des particuliers d'aménager des effets de règles de cet ordre public, de contourner l'application normale de ces effets ou même d'instrumentaliser des blocs de règles de cet ordre public à des finalités atypiques ou même illicites. Les montages peuvent consister à des actes sociétaires de droit organisationnel (statuts, décisions des organes sociaux) ou à des actes relevant du droit des contrats (contrats de la société avec ses associés ou dirigeants, pactes entre associés - notamment actionnaires- ou des associés avec des tiers); ils peuvent aussi instrumentaliser les sociétés au delà de leur finalité type légale de constituer des formes juridiques d'entreprises-entités autonomes (ainsi les groupes de sociétés) ou même au-delà de toute utilisation comme formes juridiques d'entreprises. Il en résulte le besoin d'étudier les différents montages rencontrés dans la pratique des deux pays sous comparaison et l'attitude de leurs droits à l'égard de ces montages, en examinant les mécanismes de base du droit français et du droit grec pour le partage du licite et d'illicite, l'application de ces mécanismes dans la prise en compte des montages et les mécanismes de sanction des montages illicites. / The economic public order of the legal entities of commercial law (companies, partnerships,entities with limited liability of their members) is the total of mandatory rules and mandatory principles which act in the legal organization and structuring of the above entities and put the limits of the freedom of the individuals in this domain. ln this perspective, the entities of commercial law are seen as the legal expressions of the enterprises, socioeconomic organizations implicating a multitude of different interests, but also "places" of the private economic power, which cannot be totally abandoned in the domain of contractual freedom, especially regarding the most developed forms of such entities. The french term "montages" expresses on the contrary the endeavor of the individuals and of their autonomy to exploit to the maximum the margins of freedom let by the law of the entities of commercial law, moving often toward the limits between the legal and the illegal or even pursuing ends beyond doubt illegal. These montages can be defined in their relationship with the economic public order of the entities of commercial law, as the efforts of the individuals to adjust the normal effects of this public order, or to evade these effects, or to manipulate sets of rules of this public order to serve ends atypical or even unlawful. The montages can be acts of organizational law (acts of constitution, decisions of the organs of the entities of commercial law) or acts of the law of contracts (contracts of the entity with its members or directors, contracts between the members of the entities - especially shareholders-, contracts between these members and persons exterior to the entity) ; they can also use and manipulate the entities of commercial law themselves beyond their destination to be legal forms of enterprises-autonomous economic unities (especially this is the case in the groups of legal entities of commercial law) or even beyond any use as legal forms of enterprises. The result of these considerations is the need to study the different montages found in the practice of the two countries under comparison and examine the attitude of their laws toward those montages, by the examination of their basic mechanisms of distinction between the lawful and the unlawful and of the application of these mechanisms on the different montages and by the study of the mechanisms of sanction of the unlawful montages.

Thesis (M.B.A.)--Boston University / The method of determination and expenditure of the Department of Defense research and development budget with all its attendant military, economic, and political considerations is obviously a topic far beyond the limitations of a paper of this type and no attempt will be made by the author to discuss this subject. In an effort to isolate for examination, however, one very pertinent aspect of this broad current issue, the thesis does concern itself with the problem of determining, contracting, providing and utilizing effectively the funds required to conduct Government research and development contracts with private industrial and institutional organizations. Since, in the aggregate, more than three -fourths of all military research and development requirements are fulfilled through these sources, it is hoped that, by considering these problems as they relate primarily to the individual contractor and secondarily to the Federal Government, certain conclusions may be reached regarding financial management principles and procedures which might eliminate difficulties in the field of research and development.

O Design passou a ser executado em níveis cada vez mais complexos. No entanto, ainda existem desafios relacionados à inserção integrada das competências dos designers nas empresas, em virtude de uma visão fragmentada de muitas corporações acerca dos benefícios daquele. Por isso, a Gestão do Design ainda se assume como um desafio, quando se procura coordenar as práticas do Design de forma vertical nos níveis estratégico, tático e operacional. Nesse sentido, pesquisadores têm se detido em investigar sobre tal área, mas, de forma geral, os resultados restringem-se a contribuições mais teóricas do que aplicáveis em companhias. Dessa forma, a presente pesquisa visa apresentar um framework de Gestão do Design para aplicação em empresas desenvolvedoras de produtos. Para alcançar esse objetivo, foi necessário: compreender, sob uma perspectiva teórica e prática, os níveis de aplicação dessa gestão nas empresas, seus benefícios e desafios; identificar os fatores críticos de sucesso presentes na aplicação integrada do Design em companhias; explorar formas de realizar uma aplicação prática em empresas; analisar os elementos constitutivos de um framework conceitual e avaliar a aplicabilidade do framework. A fim de viabilizar tais discussões, a presente investigação foi delineada por meio de revisão bibliográfica, pesquisa de campo exploratória (composta pela opinião de noventa designers), Estudo de Caso (realizada com colaboradores e gestores de três empresas) e Pesquisa Ação (destinada a cinco empresas desenvolvedoras de produtos). Os resultados obtidos permitiram construir um framework de Gestão do Design, composto por oito etapas, que visam, respectivamente, pretender, engajar, estruturar e executar a inserção de práticas integradas do Design nas empresas. Cada etapa do framework apresenta, de forma clara, seu objetivo, as ações necessárias e os impactos organizacionais que tais atividades produzem na organização. Além disto, são recomendados alguns processos contínuos para a manutenção da inserção integral do Design nas companhias. / In the last decades, Design started being practiced in more complex levels. However, there are still challenges related to its vertical insertion due to a limited vision that many companies still have of its benefits. For this reason, Design Management is seen as a challenge since it aims to coordinate design practices in an integrated manner on strategic, tactical and operational levels. In this sense, many researchers have been investigating this area, but in general, the results are restricted to more theoretical contributions than applicable in companies. Thus, the present research presents a Design Management Framework for application in companies. To achieve this objective, it was necessary: to understand, from a theoretical and practical perspective, the application of this kind of management inside of companies, its benefits and challenges; identify the critical success factors present in application of design in companies; explore ways to achieve a practical application in companies; analyze the components of a conceptual framework and validate your applicability. In order to facilitate such discussions, this research was designed through a literature review, exploratory study (composed of the opinion of ninety designers), Case Study (conducted with employees and managers of three companies) and Research Action (aimed at five developers of companies). The results achieved enabled the construction of a framework composed by eight stages which aims to “intend, engage, structure and undertake” the insertion of integrated Design practices in companies. Each stage of the framework has the objective, the actions and the organizational impacts produced in the organization. Furthermore, some continuous processes are recommended for the maintenance of insertion of the Design in companies.

At present, corporate social responsibility has become an important area of modern corporateresearch theory, and the development of CSR activities all over the world is remarkable.While the relationship between corporate social responsibility and corporate financialperformance is still ambiguous.This study reviewed the development of corporate social responsibility and literatures whichfocused on related researches; used the stakeholder theory as the theoretical basis and contentanalysis as the method basis; chose the accounting indicators of 839 Chinese listed companiesin 2010 as samples; then did regression analysis to measure the relationship between Chinesecompanies’ social responsibilities and their financial performance.According to the research results, except implementing the social responsibilities toshareholders has outstanding positive impact on Chinese listed companies’ financialperformance and implementing social responsibilities to employees has relatively positiveimpact; the implementations of social responsibilities to other stakeholders have no signallyimpact on Chinese listed companies’ financial performance. These results show that the CSRsituation in China is still not optimistic. / Program: Magisterutbildning i företagsekonomi

Thesis. 1976. M.S.--Massachusetts Institute of Technology. Dept. of Economics. / Microfiche copy available in Archives and Dewey. / Bibliography: leaves 76-79. / by Thomas V. Daula. / M.S.

A década de 70 foi caracterizada por grande atividade de construtoras brasileiras no exterior, particularmente na África e no Oriente Médio. Nos anos 80, as organizações brasileiras destacaram-se pelo grande fluxo de investimentos realizados no exterior, e na década de 90, em conseqüência da abertura comercial que houve em nosso país, as empresas brasileiras foram buscar atualização tecnológica no exterior, para enfrentar competidores estrangeiros. Esse movimento de internacionalização caracterizou-se principalmente pelo deslocamento de empresas do setor industrial; a internacionalização das empresas de varejo é um fenômeno mais recente. Pesquisas sobre o processo de internacionalização da empresa varejista brasileira ainda não são muito numerosas no país, o que talvez se deva ao fato de que esse fenômeno ainda é relativamente recente no cenário brasileiro. Nesse contexto o estudo objetivou investigar a relação entre as teorias sobre internacionalização de empresas e o processo de expansão de empresas de varejo brasileiras para países estrangeiros e identificar o que leva uma empresa a se deslocar para outros países, para onde se desloca (por que escolhe determinados locais em detrimento de outros), quais são os modos de entrada selecionados e como as empresas se adaptam aos novos locais, sob os conceitos de internacionalização de empresas. O estudo utilizou dados secundários provenientes de teses, dissertações, artigos e Internet, além de dados primários coletados em entrevistas em profundidade com os principais gestores de dez empresas de varejo brasileiras. A metodologia de pesquisa empregada englobou a Análise de Conteúdo e a Análise de Correspondência. Um dos resultados do trabalho foi a proposta de uma Taxonomia de Encadeamento Teórico sobre a internacionalização de empresas. A análise dos dados mostrou que todas as estruturas teóricas registradas nesta tese foram identificadas no processo de internacionalização das empresas de varejo brasileiras pesquisadas. / The decade of 1970 was characterized by the intense activity of Brazilian construction companies abroad, particularly in Africa and the Middle East. In the eighties, Brazilian organizations stood out because of the large flow of investments they made abroad and in the nineties, as a result of the trade opening made in our country, Brazilian companies sought updated technology abroad to face foreign competitors. However, the movement of internationalization is primarily characterized by the displacement of industrial companies. The internationalization of retail businesses is a more recent phenomenon. Studies on the process of internationalization of Brazilian retail companies are not numerous yet in the country. This may be due to the fact that this is a still relatively recent phenomenon in the Brazilian scene. Therefore, this study aimed to investigate the relationship between the internationalization theories and the expansion process of Brazilian retail companies towards other countries. Additionally, by using the concepts of international business, this work sought to identify why companies go global, where they head, which entry modes they employ and how they adapt themselves to new locations. This work has utilized secondary data retrieved from theses, dissertations, articles and internet, besides primary data collected through in-depth interviews with executives from 10 Brazilian retail companies. Content Analysis and Correspondence Analysis techniques were employed. Findings a taxonomy for theoretical comprehension of the phenomenon under investigation. Data analysis showed that all theoretical frameworks employed in this work were present in the internationalization process of Brazilian retail companies.

This Master's thesis focuses on the development of companies especially using the mergers and acquisitions. In the theoretical part, basic concepts and correct theoretical procedures of this type of companies' development are introduced. The main idea of the analytical part was inspired by the company EDUA Group, Ltd, which acquired another two companies. The goal of both acquisitions was to ensure to the company's profitability. The aim of this part of the thesis is to analyze the current profitability of company now and find the problems in the acquisition process. The evaluation of both processes is based on financial analysis and also the analysis of non-financial factors. The results of undertaken non-financial analyses show areas where more attention is to be paid in order to avoid the complications during possible future acquisitions. The main parts which affected the procedures are attitude towards employees, the market position of the acquiring company, financial situation and the timing. The result of the financial analysis shows that the primary task of acquisition was fulfilled as it helped the company to get from the loss to the profit.

As micro e pequenas empresas (MPEs), foco desta pesquisa, apresentam características peculiares em comparação às empresas de maior porte. O número de MPEs brasileiras, industriais e exportadoras vem aumentando nos últimos anos, assim como a continuidade de suas atividades exportadoras, configurando um novo panorama para este tipo de empresas. A participação destas empresas no volume de exportação total do país ainda é muito pequena (aproximadamente 2,4%, em 2003), para padrões internacionais (SEBRAE, 2004). MPEs buscam mercados distintos daqueles procurados pelas empresas de maior porte. Esta pesquisa aborda os fatores (obstáculos e motivações) explicativos da participação das empresas de menor porte nas atividades de exportação brasileiras. Para tal, foram analisados dados secundários e primários no intuito de realizar-se uma triangulação destes dados e chegar-se aos resultados e conclusões. Os dados primários foram obtidos através de uma survey e de entrevistas em profundidade com micro e pequenos empresários de MPEs que exportam. Os resultados mostram que as MPEs são mais motivadas, na exportação, por fatores conjunturais como melhores preços e escoamento de excedentes, apesar de as pequenas empresas começarem a ser incentivadas por fatores de longo prazo (como, por exemplo, aprendizado com clientes e concorrentes externos). Quanto aos obstáculos, a pesquisa demonstrou que para os micro e pequenos empresários as barreiras ambientais como política cambial, excesso de burocracia e dificuldades logísticas são os principais entraves nas exportações das MPEs. Os esforços de entidades públicas e privadas e das próprias MPEs para elevar as exportações também são analisados neste trabalho. / Despite its apparent simplicity, exportation has been deeply studied in the last decades and researchers have not yet come to a consensus. The literature cannot yet explain why some firms succeed while others fail to export and how the perception of motivations and barriers varies amongst different types of firms. This thesis focuses on small companies, which probably face more barriers and perceive less advantages and motivations to export than bigger and more established companies, resulting in a mere 2,4% contribution to Brazilian foreign trade. Firstly, It was studied the barriers and motivations that have influence on exports. A survey was carried out with executives of small firms and the factors (motivations and barriers) were ranked based on the perception of importance of each one. Secondly, it was tested whether the relative score given by respondents varies according to industry, target market, frequency of exports, international experience and entry mode. The results show that small firms are usually motivated by short term incentives like better prices or international sales of production surplus. Nevertheless, some firms start to be motivated by long term incentives like learning with foreign clients and competitors. Disadvantageous currency policy, high level of bureaucracy and poor transportation infrastructure are considered the strongest barriers. These findings suggest that both public and private social action is required. It is described in this document some actions in course.

abstract: 当前，上市公司的盈余管理问题已是我国资本市场中普遍存在的突出问题。一般来说，一些企业为了满足资本市场对于上市、增发等条件的要求,以及为有效推动企业的并购、重组等行为的顺利实现,甚至为了谋求公司管理层的个别利益,往往运用盈余管理等举措实施公司财报及关键指标的粉饰修正，让不知情的股民蒙受一定的损失。普遍分析显示，我国股市中民营企业比其他企业遭遇的问题和压力更多、更大、更突出,因此民营企业从客观上来说拥有更强的盈余管理动机。而从当前我国资本市场的实际情况来看，我国相关专家学者对盈余管理的系统性深入研究，一般都瞄准了上市企业群体或持续亏损企业，对盈余管理的研究不系统、不全面、不深入，这将对我国进一步提升盈余管理监管水平构成一定不利影响。当前，由于我国民企在自身管理及发展动力方面的特殊性,我国民企的管理、盈余管理特点和国外上市公司还存在着很大的不同,进一步深入研究我国民企上市公司自身管理方面的突出特点，以及其对企业盈余管理等方面的深层次影响,有助于监管层对症下药，更有针对性地研究出台全新的监管措施,进一步提升管理水平。这还可以为公司发展的决策层及相关会计信息使用人员提供一定的决策参考, 因此其拥有十分重要的意义。 本文首先认真总结分析了有关上市企业治理结构和盈余管理等方面的历史文献资料，依托当前资本市场上普遍运用的委托代理、内部人控制和契约等理论，系统研究了我国民企上市公司在自身治理结构方面的突出特征以及其对盈余管理方面所构成影响的深层次原理。在此基础上，本文通过2015-2017年我国上市企业数据，基于截面Jones模型对民营企业和非民营企业盈余管理程度进行测算和比较分析，发现民营企业盈余管理程度更高；从四个层面系统研究民企公司自身的治理结构突出特点,设立回归模型论证了民营企业独特的公司治理结构特征对盈余管理程度确实会产生影响；最后,本文进一步利用修正的费尔萨姆一奥尔森估价模型对民营上市公司盈余管理有公司价值的关系进行了验证，发现两者具有显著相关性。 / Dissertation/Thesis / Doctoral Dissertation Business Administration 2019