One of the ways how to solve the agency problem is to align the managers and shareholders interests. Such concord can be achieved through an appropriate selection and set-up of remuneration policy for the top managers of companies. This thesis studies the compensation methods of five biggest corporations in each of the G7 countries and then further analyses the outcomes of the research using statistical and descriptive methods. The analysis is done through a comparison of performance of the company and the industry in order to identify if there is a link between the used compensation method and the company s under or over performance. The findings are described and eventual implications are presented at the end of the paper.

[pt] Projetos de infraestrutura de transporte de massa desempenham um importante papel no planejamento urbano das zonas urbanas, podendo influenciar na geração de crescimento econômico e o aumento do bemestar social. Entre as variadas opções de modos de transporte de massas existentes está o BRT, caracterizado por ser um sistema que requer um curto tempo de implementação, baixo custo de construção, e possui velocidade operacional e nível de capacidade médios. Em comparação com outros modos de transporte de maior capacidade, como trens e metrôs, o BRT é uma opção viável e atraente ao modo de transporte, dado o ritmo crescente de sua implementação em várias cidades ao redor do mundo nos últimos anos. Neste estudo, foi feita uma análise do corredor BRT TransOeste da cidade do Rio de Janeiro, sob a ótica da Teoria das Opções Reais, com o objetivo de avaliar o valor da opção de expandir a capacidade de passageiros transportados atualmente naquele corredor. Os resultados do estudo sugerem que a incorporação de estratégias interativas das Opções Reais, relativas às decisões de expansão da capacidade máxima de passageiros do corredor e de adiamento do exercício desta decisão, contribuíram para aumentar o valor esperado do projeto em 30,63 por cento. Além disso, foi observado que o aporte de recursos realizados pelo poder concedente contribuiu para aumentar o valor da opção real de expansão. / [en] Mass transportation infrastructure projects play an important role in the process of development of urban areas, leading to economic growth and increase of social welfare. Among the various existing types of transit modes is the BRT, which is characterized by being a system that requires a short time of implementation and a low cost of construction, operating in an medium level of operational speed and capacity. In comparison with other transit modes of higher capacity such as trains and subways, the BRT has shown to be a feasible and attractive alternative, as noted by the increasing pace of its implementation in many cities throughout the world in recent years. In this study, an analysis was made of the BRT TransOeste corridor in the city of Rio de Janeiro from the perspective of the Theory of Real Options in order to assess the value of the option of expanding passenger capacity in that corridor. The results suggest that the incorporation of interactive strategies of Real Options related to the decisions of expanding the maximum capacity of passengers and deferring this decision contributed to increase the expected value of the project by 30.63 percent. In addition, the contribution of the granting authority led to an increase in value of the real option.

Many multinational firms, notably Apple Inc., have engaged in increasingly aggressive tax planning strategies which shift billions of dollars overseas. This paper examines the problem through a case study of Apple, concluding that while many loopholes are utilized, aggressive transfer pricing of intangible assets is the root of the problem. Several solutions are examined before concluding that the best solution is a partial elimination of deferral in the form of a minimum payout share.

This thesis consists of three independent papers. They are put in reverse chronological order according to when they were initiated. The first paper, which is a joint work with Özgür Evren, extends the standard rational choice framework with the option to postpone the act of selecting an alternative. In that paper, we propose an axiomatic model of choice over risky prospects that restricts the classical rationality axioms solely to those instances in which the decision maker does not defer. The cardinal approach we follow allows us to identify the preference relation of the decision maker over lotteries, even if the choice data is very scarce due to deferral. Moreover, we also derive the value of deferring choice from a given set of options, which turns out to be an affine utility function over choice sets. At each choice situation, the decision maker compares the utility of each available alternative with that of deferral so as to decide on opting for an alternative immediately. The second paper is a model of status quo bias with choice avoidance. It describes the choice behavior of an otherwise standard decision maker whose choices are affected by the presence of a status quo alternative. The status quo emerges as a temporary choice, which may be reversed upon arrival of new (introspective or objective) information, or upon finding new alternatives. The third paper considers the network formation problem from a matching perspective. In that paper, agents want to link with each other and each has preferences over the subsets of others. We consider various solution concepts regarding the stability of a matching between the agents, establish relations between these concepts under several preference restrictions, and provide sufficient conditions for these solutions to be nonempty. / Diss. Stockholm : Handelshögskolan i Stockholm, 2011

La recevabilité est le cœur de la procédure judiciaire. Elle permet d’étudier la pénalisation de la vie internationale. Elle semble pouvoir rendre compte de la réponse judiciaire à la rancœur internationale au regard des grands faits criminels ; quel qu’en fut le territoire de commission.Cette thèse porte sur la notion de recevabilité devant la Cour pénale internationale. Avec la création de la CPI, la justice pénale internationale prend une dimension nouvelle. La pratique de la Cour est encore récente. L’étude est le prétexte pour examiner le fonctionnement de la Cour pénale internationale. Les Etats ont tenté de limiter la capacité de recevoir de la Cour. Ils l’ont ainsi fondée sur le principe de la complémentarité. Elle supplée l’inaction ou l’action défaillante des Etats, qui ont le devoir de poursuivre les auteurs de crimes internationaux. L’article 17 du Statut de Rome énonce les exceptions permettant de déclarer une affaire recevable devant la CPI. Ainsi, la recevabilité d’une affaire ayant fait l’objet d’une enquête ne sera retenue que s’il est prouvé que les Etats n’ont pas l’intention de mener véritablement à bien les poursuites. Et, que par ailleurs, le seuil de gravité de l’affaire est atteint. Le caractère universel de la compétence de la CPI est battu en brèche par les conditions de recevabilité. On analyse la recevabilité comme une condition de compétence à juste titre, car c’est bien le manquement de l’Etat à assurer l’effectivité des poursuites qui justifie que l’affaire soit déclarée, par la Cour elle-même, recevable. Les conditions requises pour que la Cour puisse agir, force est de constater l’implication du système de recevabilité tant sur l’organisation de la Cour que sur ses rapports avec les Etats. Celles-ci ne sont pas négligeables. De fait, le système de recevabilité est amené à évoluer. Il se caractérise par sa capacité à influencer le droit interne. Ainsi, la décision de recevoir doit amener les Etats à adapter leur droit interne. La viabilité de la Cour, à long terme, dépend du maintien d’une synergie de coopération avec les juridictions nationales, des États parties et d'autres Etats. Le système de recevabilité tend à mettre en évidence des indicateurs émergents dans la pratique de la Cour pénale internationale. C’est notamment le réalignement frappant des rôles des acteurs internationaux et la relation nouvelle qui s’instaure entre les Etats et la Cour. Le système de recevabilité de la Cour tend à éroder le principe de la souveraineté de l'Etat, sans être elle-même balayée par l'opposition catégorique des Etats souverains. / Admissibility is the heart of the judicial process. It studies the criminalization of international life. It seems to account for the judicial response to the international resentment against the great criminal acts, whatever was the territory of commission.This thesis deals with the notion of admissibility before the ICC. With the creation of the ICC, International Criminal Justice is a new dimension. The practice of the Court is still new. The study is an excuse to investigate the operation of the ICC. States have tried to limit the ability to receive from the Court. They did so based on the principle of complementarity. It compensates the action or inaction of failing states, which have a duty to prosecute international crimes. Article 17 RS sets out exceptions to declare a case admissible before the ICC. Thus, the admissibility of a case which is the subject of an investigation will be accepted only, if it is shown that States did not intend genuinely to carry out prosecutions. And that furthermore, the threshold of gravity of a case is reached. The universal nature of the jurisdiction of the ICC is undermined by the conditions of admissibility. Analyzing the admissibility of competence as a condition rightly, for it is the failure of the state to ensure effective prosecution to justify that the case will be declared by the Court itself, admissible. The requirements for the Court to act, it is clear involvement of the system of admissibility as on the organization of the Court that its relationship with the United States. These are not insignificant. In fact, the system will evolve admissibility. It is characterized by its ability to influence the law. Thus, the decision to receive should encourage States to adapt their domestic law. The viability of the Court, in the long run depends on maintaining a synergy of cooperation with national courts of States Parties and other States. The system of admissibility tends to highlight indicators emerging in the practice of the International Criminal Court. This is especially striking realignment of the roles of international actors and the new relationship established between the States and the Court. The system of admissibility of the Court tends to erode the principle of state sovereignty, without itself being swept by the opposition of sovereign states.