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Análise da dinâmica da evolução do valor de empresas brasileiras de capital aberto nos setores de mineração e siderurgia no período: 2002-2012Silva, Antonia Ana Neri Galdino e January 2014 (has links)
SILVA, Antônia Ana Neri Galdino e. Análise da dinâmica da evolução do valor de empresas brasileiras de capital aberto nos setores de mineração e siderurgia no período : 2002-2012. 2014. 81f. Dissertação (Mestrado Profissional) - Programa de Pós Graduação em Economia, CAEN, Universidade Federal do Ceará, Fortaleza-CE, 2014. / Submitted by Mônica Correia Aquino (monicacorreiaaquino@gmail.com) on 2014-11-06T13:49:03Z
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Previous issue date: 2014 / The study aims to evaluate the dynamics of evolution of corporate value; described by the variables Equity and Enterprise Value, the publicly traded companies in the mining and steel sector listed on the BOVESPA, between January 2002 and December 2012, which contributes with to the literature to use as a tool to analyze an autoregressive model with endogenous threshold value, and helps to capture changes on the default value of the companies placed on our current scenario and economic policy, to provide a more fair value of companies in the future since their use is of utmost importance to business decision-making and other purposes. Quantitative indicators for these two variables were calculated and the methodology allowed to investigate both the linearity and stationarity of their trajectories. The results showed, through the selected variables, three different situations among the selected companies: i) linear dynamics, non-stationarity for Equity and Enterprise Value, reaches Ferbasa and Equity the Vale; but the Enterprise Value of the Vale follows a stationary dynamics;ii) non-linear dynamics, which follows a pattern change in selected variables for Equity and Enterprise Value additionally non-stationarity in the two regimes, for Equity and Enterprise Value reaches Gerdau and Usiminas; and iii) non-linear dynamic for Equity and linear for the Enterprise Value for the National Steel Company, which additionally presents for Equity partial and globally stationary unit root, dynamic and Enterprise Value presents non-stationarity. / O trabalho tem como objetivo avaliar a dinâmica da evolução no valor das empresas, descrita pelas variáveis Equity e Entreprise Value, das Companhias de capital aberto do setor de mineração e siderurgia listadas na BOVESPA, entre janeiro de 2002 a dezembro de 2012, o qual contribui com a literatura ao utilizar como ferramenta de análise um modelo autoregressivo com valor limite endógeno, e ajuda a captar se existe mudança de padrão do valor das empresas ante as alterações no cenário e na política econômica, para prever um valor mais justo das empresas no futuro, uma vez que sua utilização é de extrema importância para tomada de decisões empresariais e outras finalidades. Indicadores quantitativos para essas duas variáveis foram calculados e a metodologia permitiu investigar, simultaneamente, a linearidade e estacionaridade de suas trajetórias. Os resultados mostraram, através das variáveis selecionadas, ocorreram três situações diferentes entre as empresas: i) dinâmicas lineares, não estacionaridade para o Equity e Enterprise Value, atinge a Ferbasa e Equity a Vale; porém o Enterprise Value da Vale segue uma dinâmica estacionária; ii) dinâmicas não lineares, o que segue uma mudança de padrão nas variáveis selecionadas, para Equity e o Enterprise Value, adicionalmente, não estacionaridade nos dois regimes, para o Equity e Enterprise Value, atingem a Gerdau e Usiminas, e iii) dinâmica não linear para o Equity e dinâmica linear para o Enterprise Value para a companhia Siderúrgica Nacional, que adicionalmente, apresenta para o Equity com raiz unitária parcial e globalmente estacionária, e para o Enterprise Value apresenta não estacionaridade.
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O Private equity como fator determinante ao bom desempenho em rankings qualitativos e quantitativosMarzola, Márcio José January 2015 (has links)
MARZOLA, Márcio José. O Private equity como fator determinante ao bom desempenho em rankings qualitativos e quantitativos. 2015. 35f. Dissertação (mestrado profissional) - Universidade Federal do Ceará, Programa de Pós Graduação em Economia, CAEN, Fortaleza - Ce, 2015. / Submitted by Mônica Correia Aquino (monicacorreiaaquino@gmail.com) on 2016-02-26T19:24:53Z
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Previous issue date: 2015 / This study seeks an in-depth analysis of Private Equity in Brazil, more specifically from the perspective of how the article: the "Biggest and Best" ranking, by Exame magazine, reflects the subject, as well as a parallel profitability with CDI and Ibovespa. The methodology is to
develop comparisons to quantify the presence of private equity funds in the magazine's
ranking and to compare the price variation of post IPO stocks with the CDI and Ibovespa rate, the comparison will be the date of its IPO in a period next 30 to 360 days. For the experiment, we collected the IPOs in the year 2011 Bovespa the year 2013, a total of 24 IPOs. From these analyzes it can be concluded that the presence of Private Equity funds showed that the
contribution by the investment funds is material to its IPO and the good future organizational performance, and explain that the purchase of shares at the time of IPO compared to the CDI and the Bovespa showed up in most of the observations that have equal returns or more profitable than the CDI and Ibovespa this in a short term and in the long term. / Este trabalho busca uma análise aprofundada sobre o Private Equity no Brasil, mais
especificamente sob a ótica de como o artigo: o ranking “Maiores e Melhores”, da revista
Exame, reflete o assunto, além de um paralelo de rentabilidade com o CDI e o Ibovespa. A
metodologia empregada consiste em desenvolver comparações que quantifiquem a presença
de fundos Private Equity no ranking da revista, além de comparar a variação dos preços das
ações pós IPO com a taxa CDI e o Ibovespa, a comparação será da data de seu IPO em um
prazo seguinte de 30 e 360 dias. Para o experimento, foram coletados os IPOs realizados na
Bovespa do ano de 2011 ao ano de 2013, totalizando 24 IPOs. A partir destas análises pode-se
concluir que a presença de fundos Private Equity evidenciou que o aporte por parte dos
fundos de investimentos tem grande relevância para seu IPO e o bom desempenho
organizacional futuro, além de explicitar que a compra de ações no momento de sua abertura
de capital quando comparada ao CDI e a Bovespa mostrou-se, na grande parte das
observações, que possuem retornos iguais ou mais rentáveis do que a CDI e o Ibovespa isso
em um curto prazo e em um longo prazo.
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Brand Equity na perspectiva dos clientes: uma investigação empírica de suas dimensões e do mix de marketing entre usuários de marca de sapato esportivo / Brand Equity in the customer\'s perspective: an empirical investigation of relationships between its dimensions and marketing mix that one sports shoe brandEduardo de Paula e Silva Chaves 10 September 2010 (has links)
Neste trabalho analisam-se os modelos conceituais e operacionais de brand equity baseado no cliente apresentados na literatura acadêmica. Sendo essa a alternativa para explorar o tema: documentar os modelos de brand equity, bem como as diferenças conceituais e empíricas entre os modelos de brand equity, pela ótica do cliente. Neste contexto, surge o seguinte problema de pesquisa: Os modelos existentes na literatura (teórico-práticos) de brand equity, baseado no cliente, podem compor um modelo de mensuração aplicável à realidade brasileira? Para isso faz-se uma pesquisa descritiva com o intuito de apresentar e enumerar os modelos de brand equity baseados no cliente, constantes entre os autores em ciências sociais aplicadas. Os resultados dessa parte do trabalho são tabelas resumo da literatura, apresentadas em capítulo específico, bem como as interpretações provenientes dessas análises. Elabora-se, então, uma pesquisa empírica para verificar a relação existente entre as dimensões que compõem o brand equity baseado no cliente e o mix de marketing organizacional. É desenvolvido análise da literatura, análise de confiabilidade, regressões, e modelagem de equações estruturais. Nessa pesquisa empírica encontra-se as análises de confiabilidade (Alpha de Cronbach´s), onde verificou-se que as dimensões propostas inicialmente por Aaker (1998) e Keller (1993) têm alta confiabilidade de escala. O patrimônio total da marca e a percepção dos preços, propostos por Yoo, Donthu e Lee (2000) também têm alto poder de confiabilidade na escala em português. Na análise das regressões completa, tradicional, e confiável do brand equity, baseado no cliente, houve uma semelhança de resultados. Apesar de algumas diferenças nos números e valores de R2 e de erro, esses foram muito próximos deixando as três equações propostas com mesma significância e valor de predição. Esse valor de predição para as três equações de regressão são moderados/baixos, demonstrando uma predição da variável dependente em grau leve pelas variáveis independentes, propostas nos modelos de regressão. Seguidos das análises de ajustes, verossimilhança, e significância da modelagem de equações estruturais m.e.e. Os objetivos do trabalho, propostos inicialmente, foram alcançados de forma clara e apresentados melhor no decorrer deste trabalho. Essa pesquisa empírica foi replicada para o Brasil, utilizando-se como base o trabalho de Yoo, Donthu e Lee (2000), sendo uma investigação agora desenvolvida nacionalmente. Tendo como alvo da pesquisa o setor de sapatos esportivos de uma grande marca mundial Adidas. / In this paper examine the conceptual and operational models of based-client brand equity presented in the academic literature. This being the alternative to explore the theme: documenting models of brand equity, as well as differences between the conceptual and empirical models of brand equity, through the eyes of the customer. In this context, there arises the following research problem: The existing models in the literature (theoretical and practical) of based-client brand equity can make a measurement model applicable to the Brazilian reality? For this it is a descriptive research in order to present and list the models of basedclient brand equity, listed among the authors applied social sciences. The results of this study are part of the summary tables of literature, presented in separate chapter, as well as interpretations from these tests. It elaborates, then, empirical research to verify the relationship between the dimensions that comprise the client-based brand equity and organizational marketing mix. It is developed literature analysis, reliability analysis, regression, and structural equation modeling. In this empirical research is the analysis of reliability (Cronbach\'s Alpha), where it was found that the dimensions initially proposed by Aaker (1998) and Keller (1993) have high reliability scale. The total equity of the brand and the perception of prices, proposed by Yoo, Donthu and Lee (2000) also have high reliability in the power of scale in Portuguese. In the analysis of complete regressions, traditional and trusted brand equity, based on the client, there was a similarity of results. Despite some differences in the numbers and values of R2 and error, these were very close to leaving the three equations with the same significance and value prediction. This predictive value for the three regression equations are moderate / low, showing a prediction of the dependent variable in mild by the independent variables proposed in the regression models. Followed by analysis of settings, likelihood and significance of structural equation modeling s.e.m. The objectives of the work originally proposed, were reached in a clear and better presented in this all paper. This empirical research has been replicated in Brazil, using as basis the work of Yoo, Donthu and Lee (2000), an investigation now being developed nationally. Targeting the research sector of athletic shoes of a great global brand - Adidas.
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Perceptions of managers regarding the barriers to implementing the Employment Equity Plan of the City of Cape Town :an exploratory studyPrince, Freddy January 2006 (has links)
Magister Commercii - MCom / During the amalgamation of the seven substructures within the City of Cape Town specific problems arose around employment equity issues and consequently the City of Cape Town has introduced an Employment Equity Plan. This study investigated the perceptions held by managers regarding the barriers that can mitigate againsst the successful implementation of the Employment Equity Plan. / South Africa
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A rational approach to the debt-equity dichotomyMaistry, Cordelia Deidre 24 August 2012 (has links)
No abstract available Copyright / Dissertation (LLM)--University of Pretoria, 2012. / Mercantile Law / unrestricted
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Ocenění společnosti Orco Property Group S. A. / The Valuation of Orco Property Group, S.A.Przeczek, Tomáš January 2010 (has links)
The objctive of this thesis was AN assessment of the value of the Orco Property Group Company. It required making out a strategic analysis, financial analysis and working out a financial plan. For the actual valuing I decided to choose the DCF Equity method.
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The future of remedies : Moving beyond divided legal and equitable remedies in Canadian lawLynch, Lorna 11 1900 (has links)
This work examines the scope of the divide between legal and equitable jurisdictions in
Canadian law. It focuses in particular on the divide between legal and equitable remedies,
which continues to mold the remedial approach in modem Canada.
It is concluded is that the strict separation between legal and equitable remedies is
detrimental to legal evolution. The judicial system must strive to serve justice by
embracing a flexible and responsive remedial approach. The retention of a division
between law and equity inhibits the legal response to the demands of an evolving society.
Arguments based in history no longer justify a restrictive and divided remedial
jurisdiction.
It is accepted that history and precedent cannot be abandoned altogether. A division
between law and equity must be maintained on some level but the scope of this division
needs re-evaluation. The distinction between legal and equitable rights does not in itself
necessitate a division in remedies. Rather, it is time to move towards a flexible
framework of remedies, which is responsive to the particular circumstances of the
dispute, irrespective of the historical origins of particular measures.
It is noted in Chapter 1 that a remedial approach influenced by an intermingling of legal
and equitable principles, is evident in recent Canadian jurisprudence. In particular, a
resurgence of equitable themes and the expansion of specific equitable remedies, has
occurred. Therefore, it is the aspects of equity's remedial jurisdiction that are focused on
in the body of this work.
Chapter 2 provides a brief historical outline of the origins of equity's remedial
jurisdiction. This outline highlights the equitable themes, which retain significance in a
modem context and must shape the remedial approach of the future. In the latter half of
Chapter 2 the fusion of the administration of law and equity under the Judicature Acts is
examined. It is concluded that a mingling of legal and equitable doctrine has occurred in
the wake of this fusion and remedial law must embrace this development.
The Canadian judiciary has taken some active steps towards breaking down the divide
between legal and equitable remedies. These steps are identified in Chapters 3 and 4, with
reference to the evolution of the constructive trust and equitable compensation
respectively. These remedies have expanded beyond their historical limitations and have
mingled with legal doctrine. The jurisprudence supports a flexible remedial approach that
rejects the strict confines of history.
It is concluded that a move beyond the divide between legal and equitable remedies must
not be resisted. Remedies must be loosened from their historical anchors to shape a
responsive remedial approach in Canadian law. / Law, Peter A. Allard School of / Graduate
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Equity crowdfunded: Re-positioning architects as economic + social facilitators in the digital ageJanuary 2018 (has links)
Online equity-based crowdfunding, also known as regulation crowdfunding, or Reg CF, is a financing process by which a large number of individuals pool resources towards the support of a project in return for a pro-rated stake or return. Still in its infancy, crowdfunding has been largely unexplored and minimally tested within the architecture realm, likely due to the high capital requirements and complex building regulations. Yet, as it expands into a viable market, equity crowdfunding may offer architects an alternative: a more democratic, open-source and participatory building process, and the ability to re-position their role as facilitators of catalytic projects. While donation and reward-based crowdfunding platforms (such as Kickstarter and Indiegogo) are used to fund smaller-scale projects, equity-based crowdfunding platforms (such as WeFunder, Small Change and SeedInvest) have been increasingly used in larger-scale real estate transactions. Currently less than 1% of all crowdfunded projects are civic design-focused. A recent study found only 3% of architecture campaigns use equity crowdfunding compared to 71% of reward-based crowdfunding and 14% of donation-based crowdfunding. Equity crowdfunding has raised the highest amount of funds per architecture campaign per crowdfunding type, upwards of $50,000 on average, and the broader US market projects exponential growth, upwards of $8 billion by 2020. Because investors are given equity incentives, they are more likely to contribute higher amounts, provided that there is a strong team and clear business plan. Architects can now test and receive feedback on public sentiment around once-unconventional ideas, and move forward on projects that might not have appealed to conventional investors. Additionally, architects can circulate their proposals with an international group of like-minded possibly-interested investors and support networks; build awareness around challenges they seek to address; showcase their expertise around project types; and improve the likelihood - through increased political and financial capital - that their ideas evolve into reality. This thesis overviews the landscape of crowdfunding in architecture, specifically equity crowdfunding; details how it might be integrated and initiated as an early-stage participatory tool by architects to generate support for their proposals; and explores the implications crowdfunding may have on the architecture process. The thesis tests such a process through a theoretical equity crowdfunding campaign - “Gowanus Crossing” in Brooklyn, NY, which proposes a 290-footlong water remediation bridge across the toxic waterways of the Gowanus Canal. The aggregated system of the bridge incrementally develops as financing becomes available and the project raises immediate public awareness around efforts to clean the water. Overall, this thesis suggests architects are ideally suited for facilitating crowdfunding campaigns. Equity crowdfunding becomes a financing process that will alter the traditional building process but may also become a tool architects could utilize to pro-actively respond amidst the challenges of climate change, political partisanship, and urban disinvestment. / 0 / SPK / specialcollections@tulane.edu
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"Mending the Gaps"Muller, Mark D. 05 1900 (has links)
Mending the Gaps examines the failures and deficits that have occurred in education both historically and today. These gaps that already existed in learning, equality, opportunity, and technology have all been made worse after two years of a global pandemic. Focusing on students in the state of Texas, which has the 2nd largest economy in the United States, but currently ranks 34th in quality of education, now students face the reality of the COVID 19 health crisis in an already overburdened public education system. People in every area of the community, including local, state, and national policy makers, are questioning if it is time to rethink what is considered a quality education. This documentary project will take viewers from the classroom to the boardroom, as stakeholders from all levels of the educational spectrum have an earnest conversation and answer the hard question, can the current system close the gaps and salvage a generation of students?
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Creating and Validating a Measure of Customer Equity in Hospitality Businesses: Linking Shareholder Value With Return on MarketingHyun, Sunghyup Sean 17 August 2009 (has links)
Understanding the contribution of marketing to the shareholder value of a company has been a major challenge for marketing research. The purpose of this dissertation was creating and validating an attitudinal measure of customer equity in hospitality businesses, thus providing a link between return on marketing and the shareholder value of a company. The theoretical background of the customer equity construct was examined, and then systematic scale development processes were initiated. The results produced two concise scales: (1) 17 items that represent the six dimensions of customer equity in the restaurant industry and (2) 19 items that represent the six dimensions of customer equity in the hotel industry. Six dimensions of customer equity achieved strong convergent validity, discriminant validity, and internal consistency, indicating unidimensionality of the constructs. To further validate the newly developed scale, criterion validity was checked in correlation with six criterion measures using data collected from 590 hospitality industry consumers. The results demonstrate that customer equity closely reflects the shareholder value of a company. Also, it was found that value equity, brand equity, relationship equity, and service quality are significantly and positively correlated with overall customer equity of a company. In conclusion, customer equity represents the long-term value of a company, and reflects shareholder value of the company, thus providing a link with return on marketing investments. Theoretical and managerial implications are discussed. / Ph. D.
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