Economy is not always in perfect equilibrium when it runs in capital market system. Sometimes crisis attacks the development of economy. Economy crisis is a sign which will appear in capital imbalance of economy. Inside economy, capital distribution in three composers--consumption, investment, and government is the key to analyze economy crisis. Between economy, war, global-industrialization, and capinvesting are triggers to worldwide economy crises. The transaction costs of capital market were sharply negative-accumulated and the transaction efficiency was zero and under during the process of economy crisis. Take Asian financial turmoil in 1997 for example, currency distress and banking system disruption were the signs of crisis-hit economy resulting in consumption and investment contraction. And there were adverse real effects on aggregate output and employment in 1998.

In 2007, China Airline held its flight attendance recruitment with 135 openings, being applied by a total of 6000 applicants, accounting for 2 percent of the acceptance. (China Airlines, 2007) Due to the global financial turmoil, China Airlines has frozen personnel employ in 2008. With the economic recovery in 2009, Taiwan and China has expanded their flight connections by implementing direct cross-strait scheduled flights and opening up new flight corridors. In May 2010, China Airlines recruit native flight crew again. Of the 5,338 people who registered online, only 92 will be recruited. The acceptance rate is lower than 2 %. (China Airlines, 2010) The statistics indicates that the flight attendance is still one of the most coveted jobs for young people. According to the perception of social stratification, the flight attendance is deemed to a mid or high level occupation, featured high salary, more day-off, opportunities to travel around the world and a well-establish welfare system, which make it a dream job. The elegant manner and poised service performed by the attendance are the direct advertisement for airlines; thus, they are, in other words, the soldiers in the frontline to the company. However, the pressure and problems from work hidden under the beautiful suits are overlooked. (§Eºü¼w¡A2004) Airline companies always face fierce competition, especially in Asia, where customer service is highly valued. Inflight service is widely different from other service industries. Starting from the moment of closing the boarding gate, flight attendances have to quickly build up the teamwork and meet the needs of passengers with limited resources and time by using their professional knowledge. Their working pressure goes without saying. Therefore, the chief purser plays a critical role in the team, whose leadership will intensely influence the outcome of inflight service and team coordination. A professional chief purser ought to equip with strong management ability of immediate response and reaction. The purpose of this project is study how the leadership style of a chief purser would moderate the job pressure flight attendances may face during work, and further enhance the satisfaction of inflight service and in the long run, to attract more customers and increase customer returning rate.

AL’objectif de cette thèse est de tester la corrélation des cycles économiques entre les pays développés et les pays émergents, et de déterminer, en outre, l’importance relative des mécanismes causaux de la synchronisation/désynchronisation cyclique entre ces deux groupes de pays. Il s’agit notamment d’examiner comment les phases cycliques qui secouent les pays avancés se transmettent aux pays émergents. En étudiant les relations économiques entre les pays avancés et les pays émergents, nos résultats montrent qu’il existe une synchronisation cyclique entre les deux groupes de pays, mais aussi, en même temps, un découplage partiel des cycles conjoncturels entre un nombre limité de ces deux groupes de pays, notamment l’Inde et la Chine. Les circuits commerciaux et les canaux financiers sont les déterminants principaux de la synchronisation cyclique entre les pays développés et les pays émergents, en tenant compte d’une importance relative des facteurs financiers. Ce résultat nous a amené à analyser plus en profondeur les aspects financiers. Ainsi, on a étudié, en premier lieu, l’indice des turbulences financières. On observe qu’il existe une forte corrélation entre les troubles financiers des pays avancés et ceux des pays émergents. On a également testé, en second lieu, la synchronisation cyclique sous les différents régimes de change. On constate que les économies émergentes qui adoptent un régime de change intermédiaire sont les plus synchronisées, parce qu’il existe un lien entre corrélation cyclique et comportement des réserves de change. Ces dernières arrivent à leur pic dans un régime de change intermédiaire, ce qui est probablement dû aux relations intenses avec l’Europe et les Etats-Unis qui atteignent leur plus haut niveau sous un système intermédiaire de changes / The aim of this thesis is to analyze business cycles correlation between developed and emerging countries, and to determine the relative importance of causal mechanisms of synchronization/desynchronization between these two groups of countries. The business cycles across countries: divergence or convergence? How cyclical phases that shake the developed countries are transmitted to emerging countries ? By examining the economic relations between advanced and emerging countries, our results show that there is business cycles synchronization between the two groups of countries, but also at the same time, a partial decoupling of business cycles between a limited number of these two groups of countries, particularly India and China. Trade integration and financial channels are the main determinants of cyclical synchronization between developed countries and emerging economies, with a relative importance of the financial factors. This result led us to analyze, further, the financial aspects. Thus, we studied in the first place, the financial stress index. It is observed that there is a strong correlation between financial turmoil of developed countries and emerging countries. It was tested, in the second place, the cyclical synchronization under different exchange rate regimes. It appears that emerging economies that adopt an intermediate exchange rate regime are more synchronized because there is a link between their cyclical correlation and their international reserves behavior. These arrive at their peak under an intermediate exchange rate regime, probably due to the intense relations with Europe and the United States, which reach their highest level under an intermediate exchange rate system.