Ingeniero Comercial, Mención Administración / Este trabajo tiene por objetivo analizar algunos de los eventos más importantes que constituyeron la crisis subprime, junto con su impacto en Chile y algunos de los mercados bursátiles más importantes del mundo (Estados Unidos, Inglaterra, Alemania, Japón y Brasil) por medio de la metodología de estudio de eventos. De manera más específica, se construyó la cronología de la crisis subprime y se seleccionaron cuatro eventos considerados relevantes en su desarrollo: (1) la quiebra del banco comercial Lehman Brothers; (2) el anuncio del plan de rescate por parte de la Reserva Federal de Estados Unidos; (3) el posterior rechazo de dicho plan; y (4) el repunte del índice S&P 500, como evento que marcaría el comienzo de la recuperación a nivel global. A continuación, utilizando la metodología de Estudio de Eventos propuesta por Brown y Warner (1980), se analizó la existencia de retornos anormales estadísticamente significativos –bajo los tres modelos comúnmente usados–, en los días próximos a los eventos ya mencionados, con el objetivo de estimar el impacto de éstos en algunos de los principales mercados bursátiles del mundo y en Chile. Los resultados indican que los AR fueron significativos cuando se dió a conocer la quiebra de Lehman Brothers, tanto en EE.UU. como Alemania; y, bajo dos de los métodos, también fueron significativos en Inglaterra y Japón. Por otra parte, el anuncio del plan de rescate arrojó AR significativos en todos los países estudiados, con excepción de Chile. El posterior rechazo del plan generó retornos anormales significativos sólo en Alemania; en el resto de los países, dos de los tres metodos arrojaron resultados significativos, excepto en Chile, donde los resultados no fueron concluyentes. El último evento produjo resultados significativos en EE.UU., y también en Alemania e Inglaterra al día siguiente del acontecimiento. Al realizar el estudio utilizando el índice globlal MSCI, se obtuvieron resultados similares.

The existing literature does little to reveal the sources of escalation in international security crises. This thesis reveals some of them by means of a general analytical framework designed to sensitize us to the distinctive political context of individual cases. Most theorising about crisis focuses narrowly on decisionmaking: the cognitive and/or organisational processes that form and implement policy. Such an approach essentially treats decision-makers as autonomous actors more or less effectively securing their utility. Their broad political context--the nation-state they represent and the issue--are given. In these terms, decision-making is critical to policy. Technical prescriptions to improve the process should therefore also improve policy. However, both largely reflect political constraints immune to such ‘improvement.’ In crises such constraints apparently produce sloppy decision-making, because they drastically reduce the politically expedient options and thus the importance of the process of choosing. They can also increase escalation. I identify the escalatory political constraints of crisis, and argue for their importance by examining a case that reveals them unusually starkly: one ending in war. This is the basis of a framework for analysing the political dimension of crisis escalation. The political context is important because of the general political role of the foreign-policy-maker, and the kind of issue raised in a crisis. An individual acting for the state at least nominally represents the community--the nation--of which the state is the political expression. This is a role which, as long as he occupies it, he must in some measure perform. As such, he is constrained by the implicit or explicit obligations of his office. These are common to all states (defined as an institution with supreme authority to order the affairs of a community) though they vary greatly in form and substance. An international crisis is essentially a period of extraordinary threat to important national interests and extraordinary likelihood of war. Because crises involve the dispute of important national interests and the use of force--at least by implicit threat--they provoke unusual political and public attention. A coercive demonstration of force must be publicly legitimised, by defining the issue as important and the adversary as the wrong-doer. Depending on the salience of the issue and the character of the state, such a demonstration constitutes a lesser or greater commitment, a more or less constraining invocation of public expectations concerning the leader's obligations of office. To understand how and why such commitments tend to be more or less powerful and thus more or less escalatory, we must identify the sources of issue salience, in the character of the states and in the object of dispute. Different combinations of aspects of object and states will have more or less escalatory effects. Some will invoke a greater sense in the political constituency of that leader's obligations to escalate, for example, because the adversary has a despised political system, or because the issue involves territory populated by loyal subjects. Such a tenor of public or peer opinion, albeit ill-defined, imposes palpable political costs on conciliatory actions. The identified escalation-relevant variables are: the states' balance of power, political systemic distance, history of contact, current political instability, and the disputed object's indivisibility, preemptibility, emotive potential and utility. A crisis can be characterised according to how escalatory or de-escalatory are the effects of these variables. I characterise three case-studies thus to help us evaluate the 'characterisation' as an analytical instrument. The instrument does more than draw our attention nicely to the dynamics of crisis escalation. By emphasising the foreign-policy-maker's role as the notional person of the state, and his symbolically and practically important obligations to political constituency, it provides a more conceptually coherent alternative to the realists' anthropomorphic state, and to the crisis literature's autonomous decision-maker, as the focus of analysis. / Arts, Faculty of / Political Science, Department of / Graduate

The main goal of this paper is to provide complete view about financial crises. Paper is di-vided into the six chapters whereas we explore the definition of crises, than history, causes, indicators and anti-crisis precautions. In last chapter we apply all theoretical observations to case study of Nordic banking crises from the beginning of the 90s in last century. We can't expect the crises to vanish completely because they are natural part of both finan-cial system and whole economy but for which they are extremely dangerous too and that's why the crisis, when it breaks out, must be at every moment managed and under control.

The existing literature has discussed crisis communication as a tool to minimise reputational damage to a company in the event of a crisis. The Situational Crisis Communication Theory (SCCT) provide guidelines for managers in times of crises on how to protect their reputational assets and their corporate image in specific crisis situations with a set of communication strategies. The theory emphasise the importance of stakeholders in a crisis since they could oppose as a threat to companies´ reputation. Despite the realisation of stakeholders’ role in crisis communication, explorative studies aiming at understanding the consumer's perspective and how they prefer to be communicated are limited.   The purpose of this thesis is to understand, from consumers’ perspective, how companies should communicate in a time of crisis. This was done through using the existing Situational Crisis Communication Theory (SCCT) as a basis. The purpose was accomplished by conducting focus groups were crisis scenarios and strategies based on the SCCT played a fundamental role in generating results. The findings from the research suggest that there is a cycle explaining preferred crisis communication from consumers’ perspective. The suggested cycle includes three influencers that is: responsibility, communication, and reputation. This cycle suggest how consumers prefer to be communicated, what influences them to making that choice, and how it reflects back on the corporate image. The main finding of the research was the preferred communication in specific situations. The study showed that there is a set of generally applicable strategies, which consumers prefer in all crisis situations whereas additional preferences are added based on attributed responsibility.

This exploratory study was designed to elicit information about family reactions to the crisis of illness and what families perceive to be helpful during this crisis. The study focused on the family crisis of incorporating back into the family a father who had experienced his first myocardial infarction. The study was conducted with a convenience sample of ten male myocardial infarction patients, their wives, and children living in the household. A semi-structured interview schedule was used with each family one to three weeks following the father's discharge from hospital. The interview data were summarized into categories and descriptive statistics were used. All 10 families described changes that had occurred in the areas of family roles, interactions, affect and structure since the father had returned home from hospital. The amounts of help received by families varied a great deal and differences of opinion were expressed within some families. Friends and home care nurses were most frequently seen as persons offering the most help to families. Receiving information and reassurance were seen as helpful during this time. In summary, the results of the study indicate that families do experience a variety of changes when a family member is ill. The quantity and quality of change are related to the family's perception of the nature of the illness, the ill member's enactment of the sick role and the degree of difference between the family's pre-illness and post-illness state. Illness, especially life-threatening illness, fosters a review of individual and family goals which can also produce change. It is also presumed that family reactions can have an effect on the course of illness. The effect is dependent upon family perceptions of the illness, the amount and kind of controls they can exercise, and the personal needs of individual family members. More research is required to identify the characteristics and temporal aspects of family reactions to illness and family effects on illness. Innovative approaches to research design and methodology are required to ensure scientific theory development and continued appreciation of the complexity of family systems. / Applied Science, Faculty of / Nursing, School of / Graduate

This study describes a conceptual framework that portrays information system project failures as organizational crises. The main assumption of this study is that such failures will invariably happen and thus there is a need to make them less costly and more beneficial to organizations. To identify the behaviors and factors that influence an organization's ability to effectively manage a project failure, this dissertation reviews the crisis management literature. Based on this review, a three-stage model is formulated. To understand the mechanisms underlying this model, a number of hypotheses (which are informed by a number of related organizational behavior areas) are generated. These hypotheses focus on three key crisis management factors: the organization's ability to promptly detect an impeding failure, its capacity to manage the failure's impacts, and its propensity to learn from it. To empirically assess the validity of the conceptual model, three case studies of Canadian public organizations were conducted. The empirical findings provide strong support to the model's conjectures and indicate that project failures generate several crisis-related behaviors and responses. More specifically, the findings suggest that an organization's proactive preparation for a failure can have a significant moderating effect on its impact. However, the findings clearly show that an organization's ability to promptly detect (and prepare for) a failure is impeded by behaviors that are motivated by escalation of commitment. Such behaviors lead to a prolonged pre-crisis denial period and have a suppressing effect on whistle-blowing, which is pursued as a denial-curtailing strategy by non-management participants. The empirical findings describe both operational and legitimacy tactics used by organizations to cope with the aftermath of a project failure and indicate that credibility restoration is a significant concern during large crises. Finally, the empirical evidence indicates that organizational learning and adaptation are more likely to follow major project failures than less significant ones. This contradicts threat-rigidity arguments and provides support to the failure-induced learning theory. / Business, Sauder School of / Graduate

The goal of this thesis is to define what globalization is, how the people across the world react to it based on their local context, how the reactions change under the conditions of economic crises and finally how the reactions are reflected in consumption. I answer these goals both from the theoretical and practical perspective. Based on my review of theory I define globalization (1) in economic terms as a recurring phenomenon related to changing power structures of world economy when new economic centers emerge and (2) in cultural terms as localized human experience determined by both one's worldview and one's local circumstances. I further hypothesize that the worldview underlying this localized experience changes during economic crises from modernism to traditionalism and postmodernism. Since Consumption then reflects our worldview in a culturally specific way. In the practical part I further test these findings through a netnographic study focused on Czech beer enthusiasts. The key finding is that the beer enthusiasts express a need to return to traditional brewing methods. However, there appears to be no correlation between economic crisis and the emergence of traditionalism among beer enthusiasts but rather the traditionalism erupst due to clash between modernist worldview of beer enthusiasts and perceived destruction of beer industry by capitalism. Finally, the traditionalism doesn't seem to be replacing modernist worldview of beer enthusiasts but rather serves as a resource for this worldview.

Esta investigación tiene como objetivo analizar la comunicación durante la crisis reputacional de Graña y Montero, así como la intervención del directorio en la gestión de la misma. El primer capítulo plantea las preguntas y objetivos inherentes a la investigación, con énfasis en crisis reputacionales por falencias en gobierno corporativo, similares al caso en mención. El segundo capítulo incorpora el marco teórico y analiza conceptos como gobierno corporativo, reputación e imagen corporativa, crisis reputacional y comunicación corporativa. El tercer capítulo busca ubicar al Grupo en el macroentorno del sector construcción, graficando su relevancia en el Perú. El cuarto capítulo aborda la crisis del Grupo y sus características dentro del contexto del caso Lava Jato, cómo se organizó para enfrentar la crisis, y analiza su estrategia de comunicación entre diciembre 2016 y diciembre 2017. El quinto capítulo detalla el marco metodológico aplicado, de tipo cualitativo, con enfoque exploratorio, fenomenológico, descriptivo y relacional. La información pública disponible ha sido complementada con entrevistas en profundidad a directivos y ejecutivos de la empresa, así como a personas que interactuaron con la crisis. El sexto capítulo contiene los resultados del análisis de las entrevistas que responden a: la hipótesis, las preguntas de investigación y los objetivos. En el séptimo capítulo se propone un modelo de gestión de comunicación que podría permitir a los directores monitorear, prever y gestionar los riesgos desde el enfoque transversal y holístico de un dircom. Finalmente, el octavo capítulo contiene conclusiones y recomendaciones como resultado del análisis realizado. / The objective of this research is to analyze Graña y Montero Group’s reputational crisis from the perspective of communication and the intervention of the board in its management. The first chapter raises the research questions and objectives, with an introduction on reputational crises due to corporate governance problems similar to this case. The second chapter incorporates the theoretical framework and analyzes concepts such as corporate governance, reputation and corporate image, reputational crisis and corporate communication as a strategy. The third chapter seeks to locate the Group in the macro environment of the construction sector, charting its relevance in Peru. The fourth chapter addresses the Group's crisis and its characteristics within the Lava Jato context, how it was organized to deal with the crisis, and analyzes its communication strategy between December 2016 and December 2017. The fifth chapter details the applied methodological framework, of a qualitative type, with an exploratory, phenomenological, descriptive and relational approach. The public information available has been complemented by in-depth interviews with board members and company executives, as well as people related to the crisis. The sixth chapter contains the results of the information analysis and the interviews, in order to answer the hypothesis, research questions and objectives. The seventh chapter, proposes a communication management model that allows boards of directors to monitor, foresee and manage risks from the cross-sectional and holistic approach of a dircom. / Trabajo de investigación

Beatrice Rangel : Consultora internacional, norteamericana-venezolana, amplia experiencia profesional en el mundo académico, las artes, la política (al ocupar cargos ministeriales en Venezuela) y en el sector privado, tanto nacional como internacional. Actualmente asesora de la Alcaldía de Coral Gable (EEUU) y Presidenta de AMLA Consulting. / La reflexión se inicia con una breve definición del término, seguida con sus antecedentes históricos que nos remontan a la “Ruta de la Sede”, luego los factores coadyuvantes para su desarrollo y concluye citando algunos elementos para su combate. Esta conferencia guarda estrecha relación con una crisis del Estado, expresada en un Estado de Derecho débil por la falta de imperio a la ley, su imposibilidad para asegurar los bienes públicos básicos para el conjunto de su población y en una importante erosión de sus sistemas políticos, en especial en la democracia.

La conferencia trató sobre el análisis de la Crisis Económica reducida por el (COVID 19) y sus efectos en Estados Unidos y en el Mundo. Los puntos tratados se dividieron en tres partes: La primera, trató sobre la crisis económica y financiera provocada por el COVID 19 en USA, la Segunda sobre la situación mundial Post Covid-19 y las perspectivas de recuperación global y la tercera parte trató sobre la reapertura desde los SME hasta las Empresas Multinacionales Globales basándose en la Innovación.