Today, functional buildings are being demolished, generating amounts of waste that contribute to the significant climate impact of the construction industry. To counteract this, the Swedish government has established climate goals as incentives for the construction industry to reduce its climate impact. Furthermore, the government has created policies for organisations to transition to a circular economy, where one strategy for the construction industry is to switch to circular construction through the adaptive reuse of buildings and the reuse of building products. Previous studies have focused on identifying opportunities and barriers for actors in the construction industry to implement circular projects. However, there are few studies on how varying incentives affect architects and clients in developing and demanding circular services. The lack of research on the importance of incentives has led this study to investigate and contribute to a deeper understanding of the significance of incentives. Additionally, the possible implications of client incentives on architects' approaches to developing circular services are studied. The study is based on a qualitative approach through literature and interview studies along with a workshop. The literature study was conducted to gain an understanding of the field and contributed to the category model of incentives that was used during the analysis of material from interviews and the workshop. The interview study comprises two stakeholder perspectives, with 4 people representing the architect's perspective and 4 people representing the client's perspective. The results of the interview study were validated and discussed through a workshop conducted with 6people from an architectural firm in Gothenburg. The workshop also aimed to discuss the possible implications of client incentives on architects' approaches to strengthen the study's qualitative approach. Using the category model, material from the literature was coded and categorized, with terms such as drivers being sorted as positive incentives, and terms such as barriers being sorted as negative incentives. Further analysis involved quotes from the empirical data regarding what, according to the stakeholder perspectives, are positive or negative incentives to develop and demand circular services, which were compared with incentives identified through the literature. The categorise empirical data was used to analyse similarities and differences in the incentives, and how client incentives affect architects' approaches. The study's contribution is that different incentives lead to incentive impacts, which significantly influence architects in developing services and competencies and clients in demanding services. The study shows that incentives related to the transition to circular construction and contributing to climate benefits are of great importance. Architects also see business value as a strong incentive to develop circular services. Furthermore, the implications of client incentives do not result in incentives to develop a specific service but rather to develop internal processes to effectively meet varying demands. The study shows that clients' incentives to demand services are driven by strategies, where those who value incentives such as climate benefits as highly as economic ones demand practical services to a greater extent, while others demand services to realize circular strategies. The study shows that the incentives of architects and clients do not differ, but a match between these incentives is crucial for implementing circular services within projects. To enable architects and clients to contribute to the emergence of transformation and reuse requires incentives for organisational development of internal routines, which the study shows can facilitate the development of circular construction. / Idag rivs fullt fungerande byggnader vilket genererar enorma mängder avfall som bidrar till byggbranschens betydande klimatpåverkan. För att motverka detta har svenska regeringen antagit klimatmål som incitament för att byggbranschen ska reducera sin klimatpåverkan. Vidare har regeringen skapat styrmedel för organisationer att ställa om till cirkulär ekonomi, där en strategi för att byggbranschen ska uppnå klimatmålen är att ställa om till cirkulärt byggande genom transformation av byggnader och återbruk av byggprodukter. Tidigare studier har fokuserat på att identifiera möjligheter och hinder för byggbranschens aktörer att genomföra cirkulära projekt. Däremot finns det få studier om hur incitament påverkar arkitekter och beställare att utveckla och efterfråga cirkulära tjänster. Brist på forskning kring incitamentens betydelse gör att denna studie har undersökt och bidragit till ökad förståelse för incitamentens betydelse. Dessutom studeras möjliga implikationer beställares incitament har på arkitekters förhållningssätt att utveckla cirkulära tjänster. Studien baseras på en kvalitativ ansats genom litteratur- och intervjustudier samt en workshop. Litteraturstudien genomfördes för att få förståelse för området och bidrog till den kategorimodell av incitament som nyttjades under analyser av material från intervjuer och workshop. Intervjustudien omfattar två aktörsperspektiv varav 4 personer representerar arkitektperspektivet och 4 personer representerar beställarperspektivet. Intervjustudiens resultat validerades och diskuterades via en workshop som genomfördes med 6 personer från ett arkitektkontor i Göteborg. Workshopen syftade även att diskutera möjliga implikationer av beställarincitament för arkitekters förhållningssätt för att stärka studiens kvalitativa ansats. Med hjälp av kategorimodellen kodades och kategoriserades stoff från litteraturen, där termer likt drivkrafter, sorterats vara positiva incitament, och termer likt hinder, sorterats vara negativa incitament. Det som vidare analyserades var citat från empirin om av vad som enligt aktörsperspektiven är positiva eller negativa incitament att utveckla och efterfråga cirkulära tjänster, vilket ställdes mot incitament som identifierats via litteraturen. Den kategoriserade empirin användes för att analysera likheter och skillnader i incitamenten, och hur beställares incitament påverkar arkitekters förhållningsätt. Studiens bidrag till litteraturen inom cirkulärt byggande är att olika incitament leder till en incitamentspåverkan, vilket har betydande inverkan på arkitekter att utveckla tjänster och kompetenser och beställare att efterfråga tjänster. Incitament kring omställningen till cirkulärt byggande och att bidra till klimatnyttan visar studien är av stor betydelse. Arkitekter ser även affärsvärdet som ett starkt incitament att utveckla cirkulära tjänster. Vidare visar studien att implikationer av beställarincitament inte resulterar i incitament för arkitekter att utveckla en specifik tjänst, utan att utveckla interna rutiner för att effektivt kunna möta varierande efterfrågan. Studien visar också att beställares incitament att efterfråga tjänster styrs av interna strategier, där de som värdesätter incitament som klimatnytta lika högt som ekonomiska efterfrågar praktiska tjänster i större utsträckning, medan andra efterfrågar tjänster för att realisera cirkulära strategier. Slutligen visar studien att arkitekters och beställares incitament inte skiljer sig åt, men att en match incitamenten emellan är avgörande för att implementera cirkulära tjänster inom projekt. För att arkitekter och beställare ska kunna bidra till framväxten av transformation och återbruk förutsätter det incitament för organisatorisk utveckling av interna rutiner, vilket studien visar kan möjliggöra för utveckling av cirkulärt byggande.

This thesis evaluates the Children’s Fitness Tax Credit and similar credits to determine whether they are suitable to increase physical activity levels in Canada. It begins by reviewing the literature on physical activity to establish that increasing physical activity is a worthy public policy goal. It then reviews the literature on tax expenditures and health behaviour interventions to provide information in order to evaluate the credits. The credits are then described and their stated purpose is discussed. This description establishes how quickly the credits expanded from one small credit to many. One of the credits, the Active Families Benefit, requires a new concept to evaluate it as it is not simply a tax measure or a spending measure. The term hybrid tax measure is introduced to explore this credit. An evaluation of the credits considering their effectiveness, efficiency and equity in determining their suitability to increase physical activity is performed and the conclusion is made that they are unlikely to be effective and that the inequity of the credits is problematic, particularly in light of this ineffectiveness finding. It is recommended that the credits be repealed and no new credits be created, but as repeal is unlikely, alternative recommendations are also provided.

One of the challenges facing education systems worldwide is the motivation of qualified teachers to teach at rural schools. Teaching at rural schools is a challenge as rural areas are characterised by adverse living and working conditions, making qualified teachers prefer living and working at urban schools where conditions are more comfortable. Namibia implemented the financial incentive to motivate qualified teachers to teach at rural schools and improve learner performance. The implementation of the financial incentive in Namibia has received little research attention in establishing its effectiveness. The purpose of this study was to evaluate the effectiveness of the financial incentive on the performance of learners at rural schools, as this performance relates to teacher motivation. To achieve this, a literature study and an empirical investigation were conducted. An interpretivist research paradigm informed the methodology for the study. A mixed-methods research approach, which relied more on a qualitative research design, included a research sample of 28 teachers, five school principals and two education officials. Data were collected through interviews and document analysis. Individual interviews were conducted with education officials and school principals. Focus group interviews were conducted with teachers. Document analysis entailed accessing applicable documents of each research site in the office of the school principal. Textual data were analysed and presented thematically and numeric data were analysed and presented as frequencies and percentages. Key findings established that financial incentive has contributed little to the performance of learners in rural schools. The fact that rural schools are not properly categorised according to environmental challenges results in teachers not receiving realistic financial incentive. Teachers were therefore not motivated by financial incentive, but by other factors relating to being tuned to nature in rural areas, being exposed to lower living costs and enjoying accommodating school leadership and community care. A revisiting of the implementation of the financial incentive is recommended in order to negate shortcomings and enhance the potential of financial incentive to contribute to improved learner performance as steered by motivated teachers. / Educational Studies / Ph. D. (Education)

The general aim of the research is to determine the relationship between personality traits as measured by the Customer Contact Styles Questionnaire (CCSQ 7.2) and work performance as measured by means of internal company data sources, of call centre agents. Recent literature indicates a significant relationship between personality traits and work performance. The emphasis in this research is on the factor analytical or trait approach of personality. The sample consisted of 300 call centre agents. The relationship between personality traits and work performance is discussed in terms of descriptive statistics, correlations and multiple regression analyses. The results indicate a relationship between the personality traits of analytical thinking, detail consciousness, conscientiousness, structuredness and work performance as measured by the level of financial incentives for call centre agents. This finding could be implemented in the selection and performance management of call centre agents. / Industrial & Organisational Psychology / M. Com. (Industrial Psychology)

Die bestaande belastingaansporingsmaatreels in Suid-Afrika is nagevors. Belastingaansporingsmaatreels wat vroeer in gebruik was, is ook ondersoek. Aandag is gegee aan die kontantaansporingsmaatreels wat vir vervaardigingsondernemings beskikbaar is in Suid-Afrika. Programme wat deur onder andere die Nywerheid-Ontwikkelingskorporasie van Suid-Afrika Beperk en die Kleinsake-Ontwikkelingskorporasie aangebied word is ondersoek. Ondersoek is ingestel na die bevindings van die Margo kommissie Verslag wat in 1986 uitgereik is. Die verslag van die Katz-kommissie wat in 1994 uitgereik is, is ook nagevors. Aandag is gegee aan die 1994, 1995 en 1996 begrotings asook sommige van die aspekte van die Algemene Ooreenkoms op Tariewe en Handel. Die belastingkoerse en aansporingsmaatreelsprogramme wat deur die Verenigde State van Amerika, Verenigde Koninkryk en Kanada beskikbaar gestel word aan ondernemings is ondersoek. Moontlike oplossings vir die probleme wat tans ondervind word in SuidAfrika se aansporingsmaatreelstelsel is geformuleer. / The existing tax incentives in South Africa were researched. Tax incentives that were previously in use, were also investigated. Attention was given to the cash incentives available to manufacturing enterprises in South Africa. Amongst others the programmes offered by the Industrial Development Corporation of South Africa Limited and the Small Business Development Corporation were investigated. The findings of the Margo Commission Report issued in 1986 were investigated. The Katz Report issued in 1994 was also researched. Attention was given to the 1994, 1995 and 1996 budgets as well as some of the aspects of the General Agreement on Tariffs and Trade. The taxation rates and incentive programmes available to enterprises in the United States of America, United Kingdom and Canada were investi gated. Possible solutions for the problems currently experienced in South Africa with regard to incentives have been formulated. / School of Computing / M.Sc (Computer Science)

區段徵收為目前政府大規模進行土地整體開發，促進都市發展，以及無償取得公共設施用地的重要舉措之一，為一種具有高度自償性之土地開發事業。由於區段徵收需要投入大量的資金與人力，在政府財政困窘及國內不動產市場自民國81 年以來，長期處於不景氣之故，其非但無法達成原先設定之有效減低公共支出之目的，反而需要額外編列預算以支應財務缺口。爰此，造成縣市政府往往視區段徵收為畏途，但礙於相關政策規範及都市發展須盡速取得必要之公共設施用地，而不得不予執行，從而導致惡性循環，因此，如何解決區段徵收財務問題，乃成為政府必須面對的最大困境與挑戰。 在政府財政狀態日益惡化，短期內又無法籌措區段徵收開發過程中龐大的資金需求，再加上地方專業人力不足之困境下，使得區段徵收之辦理型態有所演變，部分地方縣（市）政府遂逐步引進民間資源與活力（即BT模式），朝向由民間機構自行籌措資金並由該機構專業人員負責規劃與執行開發工作，政府從旁提供必要之行政協助。此外，開發所需總費用均先由民間機構墊付，而政府再以剩餘可建築土地來償付費用，藉此創新開發模式，以有效解決區段徵收有關資金籌措及開發後土地去化等至為關鍵之癥結問題。 然而BT模式在實務執行過程時，仍存在著法令、政策制定及實施方式等相關爭議，以致於無法有效大量推廣實施，本文藉由研究相關法令、文獻記載、分析目前實施案例、並透過訪談專家學者及整理相關問題等，說明區段徵收業務在走向政府委託民間機構、引進民間資源辦理區段徵收BT開發模式時，所需面對與管理之委託-代理關係，藉由代理理論，探討區段徵收實務執行層面中，可行的解決措施（包括誘因與監督機制），並建議區段徵收應與時俱進地檢討與修正相關配套措施，以利此項善用民間資源與活力，並具有突破性的土地開發委外機制能夠更臻完備，並可作為後續土地整體開發學術研究之重要參考。 綜合本研究之結論與建議，謹分述如次： 一、結論 （一）區段徵收機制基於政策、民意與制度之可行性，可以作階段性創新改革。 （二）現行區段徵收委外機制相關法制，尚欠完備。 （三）區段徵收委外辦理機制，應同時配套建構監控制度。 （四）區段徵收委外過程，應運用誘因機制，以避免代理問題產生。 （五）區段徵收BT開發模式，應可進一步強化學術研究與應用探討。 二、建議 （一）限期檢討修正區段徵收BT開發模式法制化工作。 （二）由中央與地方成立專案小組，全力協助BT得標廠商。 （三）加強BT開發模式之宣導，建構良好的溝通協調機制。 （四）根據現有兩案例開發結果，審慎評估策訂推廣實施計畫。 / Zone expropriation is presently the large-scale integrated land development carried out by the government to promote urban development. Acquiring land for public facilities without compensation is also an important measure to have high self-liquidation of land development enterprise. Because zone expropriation needs to invest in a great deal of funds and manpower, the government finance and the domestic real estate market were in a long-term depression from 1981 until 1992. Not only unable to reach the targeted profit margin to reduce the public expenses, additional budget is needed to deal with financial gap. Therefore, it makes the county and city government often look at zone expropriation as a dangerous choice to take. But hindrance related to policy standardization and urban development must acquire the necessary land for public facilities as soon as possible because there's no choice but to implement it. As a result, it leads to a vicious circle. Therefore, the government needs to face the greatest dilemma and challenge on how to settle the zone expropriation financial problems. The financial status of the government is worsening day by day. Within a short time the government was unable to raise funds for the huge financial requirement of the zone expropriation. In addition, professional manpower is also a dilemma, causing the handling pattern of zone expropriation to evolve to some extent. Partially the local county and city government gradually brings in non-government resources and vitality (private participation-BT mode). Non-government organizations voluntarily raise funds and professionals in private sectors manage the plans and implementation, while the government provides necessary administrative assistance. In addition, the development necessary for the total costs is paid first by the non-government organization, and the government excess land will be liquidated, thereby creating modes in effect of settling the zone expropriation's fund raising and developed land key problems. However in the implementation of the BT mode process, the decrees, policymaking and implementation methodology related to disputes are still kept. Because of the incapability to take effect the large number of widespread implementation, this writing discuss about the laws, research about decrees, document records, analysis of present case studies, and interviews of professional scholars and arrangements related to the problems. Zone expropriation business is illustrated in moving towards the government's entrusting of non-government organizations. The introduction of non-government resources to handle the zone expropriation BT development method is necessary for facing with the management of principal-agent relationship. By means of principal-agent theory, probing into the implementation dimension, feasible resolutions (including incentive and monitoring mechanism), and recommending the steady advancement of zone expropriation to review and amend about the formation of a complete set of measures, these are all for making good use of non-government resources and vitality, as well as to have a break through in the land development outsourcing mechanism to make them more perfect, and may make a follow-up for the land integrated development academic study of important references. Summary, Conclusion and Recommendation: 1. Conclusions: (1)Gradual improvements can be made on the zone expropriation mechanism based on policy, public opinion and system feasibility. (2)The legal system regarding the current zone expropriation mechanism is still incomplete. The external committee handling zone expropriation should simultaneously form a complete construction monitoring system. (3)The external committee handling zone expropriation should utilize a financial incentive mechanism to avoid any problems. (4)A zone expropriation based on the BT model should go further in strengthening academic research and application 2. Recommendations: (1)Establish a deadline for reviewing the legal work for zone expropriation in the BT development model. (2)Allow the national and local relevant groups to fully assist the winning bidder for the BT project. (3)Strengthen guidance for the BT development model; construct a good communication mechanism. (4)Based on the development results of the above case studies, carefully appraise the presented implementation plan . Keywords: Zone Expropriation、Private Participation(BT Mode)、Principal-Agent Theory、Incentive Mechanism

Davantage d’évaluations de projets internationaux dans les pays en développement se réalisent pour informer les décisions sur la base de données probantes. L’utilisation des résultats d’évaluation est remise en cause et pour y remédier des évaluations participatives qui incluent à certaines étapes du processus évaluatif des acteurs non évaluateurs sont proposées. Parmi celles-ci, les évaluations participatives pratiques visent principalement à améliorer l’utilisation du processus et des résultats des évaluations. Ces évaluations participatives pratiques seraient obstruées par des attitudes individuelles négatives, ou résistance individuelle au changement, et favorisées par des attitudes individuelles positives, ou propension. Cette thèse propose d’étudier la propension individuelle des gestionnaires envers les évaluations participatives pratiques d’intervention (EPP), les éléments influençant cette propension, et de caractériser des niveaux de propension des individus envers les EPP. Tout d’abord une revue de littérature a proposé une définition multidimensionnelle de la propension envers les EPP comme étant une attitude favorable envers la pratique des EPP qui se décline à chaque étape d’une évaluation sous les volets affectif et cognitif. Les dimensions identifiées théoriquement étaient : apprentissage, travail en groupe, emploi de méthodes systématiques, usage de l’esprit critique. Ces dimensions ont servi de cadre pour la partie empirique de la thèse. Une étude de cas multiples avec les gestionnaires d’une institution de santé en Haïti a été menée pour contextualiser la propension et identifier les éléments d’influence. Les données ont été recueillies à l’aide d’entrevues semi-structurées et de sources documentaires. L’analyse des données concernant l’apprentissage a révélé une prédominance des formes d’apprentissage par l’action et par l’observation. Le travail en groupe se retrouve ancré dans la pratique des gestionnaires administratifs et des gestionnaires cliniques. Les méthodes systématiques se reflètent principalement dans la consultation de plusieurs acteurs ayant de l’intérêt pour la problématique immédiate à solutionner plutôt que par l’outillage méthodologique. L’emploi de méthodes systématiques prend généralement la forme de consultation élargie d’avis pour régler une situation ou prend la forme de tentative de validation des informations reçues. L’esprit critique se déclenche sous stimulation lorsque l’image individuelle, professionnelle, corporative ou organisationnelle est touchée ou lors de suggestions jugées constructives. En plus de contextualiser quatre composantes de la propension individuelle envers les EPP, les gestionnaires se sont positionnés par rapport à la propension de leurs collègues sur la base de la réactivité, plus ou moins réactif vis-à-vis des composantes de la propension individuelle. Ainsi, la propension étudiée empiriquement a laissé émerger deux axes : un axe formalisation et un axe réactivité. L’axe formalisation reprend la contextualisation des quatre composantes de la propension individuelle envers les EPP, soit la forme d’expression des composantes. L’axe réactivité reprend le niveau d’activité déployé dans chaque composante de la propension individuelle, de réactif à plus proactif. De plus, des profils d’individus ayant différents niveaux de propension envers les EPP ont été développés. Des influences favorables et défavorables au niveau de propension envers les EPP ont été identifiées. L’originalité de cette thèse tient dans le fait de se positionner dans un courant récent de réflexion autour de la résistance aux changements et aux évaluations avec un regard positif et d’avoir défini théoriquement et appliqué empiriquement le concept pluridimensionnel de propension individuelle aux EPP. Des profils de niveau de propension individuelle aux EPP et les éléments d’influence favorables et défavorables associés peuvent servir d’outil de diagnostic aux types d’évaluation possibles, servir d’ajustement à la mise en place d’évaluations selon les interlocuteurs, permettre le suivi des changements de niveaux de propension pendant une EPP et servir de sources d’informations pour ajuster les plans d’évaluations participatives. / Increasing importance is being given to the evaluation of international projects implemented in developing countries. Some approaches to evaluation seek to include non-evaluators in some steps of the evaluation process. It is believed to result in decision-making that is better supported by the evidence. One such approach is practical participatory evaluation, or PPE. PPE faces a number of challenges, including negative individual attitudes or resistance to change on the part of non-evaluator participants. This thesis studies the positive individual attitudes or propensity of managers toward PPE. It examines the factors that affect individual propensity toward PPE and individual variation in propensity toward PPE. I first defined propensity toward PPE based on a literature review. In general, propensity toward PPE is a favourable attitude, both affectively and cognitively, toward the practice of PPE at all steps of the evaluation process. More specifically, it comprises four dimensions: learning, working in groups, use of systematic methods and use of judgment. I used these dimensions to analyse data I collected in a multiple case study of managers working at a health institution in Haïti. The data came from semi-structured interviews and documentary sources. I found that learning mainly occurred though doing and observing. Working in groups was entrenched in the daily practice of both administrative and clinical health managers. The use of systematic methods took the form of managers consulting multiple actors who had a stake in the immediate problem being addressed, rather than using methodological tools. The use of systematic methods involved either seeking a broader array of opinions in order to solve a situation or attempting to validate information received. Health managers used judgment in situations where their individual, professional, corporative or organizational image was affected, or when others had constructive suggestions to make. In addition to explaining the contexts in which they have exhibited, or would exhibit, each of the four behaviours of propensity toward PPE, the health managers also ranked themselves vis-à-vis their colleagues in terms of frequency of occurrence and degree of integration into daily practice. Hence, this empirical study of propensity yielded data on two aspects of propensity: “formalization” and “reactivity”. The formalization aspect contextualized the four dimensions, showing the forms that learning, working in groups, using systematic methods and using judgment actually take for these particular managers. The reactivity aspect revealed the degree of energy exhibited for each of the four dimensions, from reactive to more proactive. I also developed a schema for classifying individuals based on their level of propensity toward PPE. I identified the factors that favour versus impede levels of propensity toward PPE. The originality of this thesis lies in the insights it brings to current reflection and debate on individual resistance to change and the evaluation process. And in the approach that I have chosen: adopting a positive stance that focuses on propensity rather than resistance toward PPE, and deriving a theory-based, multi-dimensional definition of PPE and applying it empirically. Individual profiles of propensity toward PPE and knowledge of the factors that favour/impede PPE may be helpful in determining the best type of evaluation to use in a given situation. They could be used to develop quantitative tools, and to fine-tune plans and adjust the implementation of evaluations.

MICE產業在全球有其發展的重要性，全球許多知名城市也陸續完成大型會議及晚宴場地的建制，然而再多再好的硬體配備，終究必需透過產業人員的提案及執行作業。台灣及亞太地區各國家，無論會獎旅遊或會展在經濟貿易及觀光發展中，皆佔據極其重要的角色。 人才在此產業發展中不容輕忽，個人嘗試著將二十多年的會獎旅遊實務以及召募管理經驗，加上訪問國內傑出的產業領導者，藉由冰山理論以量化問卷調查及質性深度訪談，進行分析比對，整理一份極具參考價值的人才需求資料。 如何有效召募所需的職能人員，是本個案研究的目的，會獎產業人員傾向具備多元職能，除了成長過程的學習，在職養成訓練也冗長耗時，本研究相關比對的數據，可以提供有效的參考資料，讓產業在發展中不可獲缺的人才，可以更精準的召募與養成。

Cette thèse est composée de 3 essais. Le 1er essai traite de la problématique du risque de pertes extrêmes dans le secteur bancaire dans un contexte du problème d'agence entre les actionnaires et les top managers des banques. Pour pouvoir inciter les banques à ne pas prendre le risque de pertes extrêmes, il est proposé d'appliquer la régulation des fonds propres sous forme d'une politique de recapitalisations obligatoires, dont les paramètres sont choisis pour inciter les actionnaires à rémunérer leurs managers de la manière à les détourner des stratégies au risque de pertes extrêmes.Le 2ème essai développe le design de la supervision bancaire qui vise à éliminer le problème d'aléa moral au sein d'une banque, tout en assurant un coût minimum de supervisions. Les banques, dont la situation financière commence à se dégrader, doivent être soumises à des audits aléatoires. Les banques, dont la valeur de l'actif s'est dégradée considérablement, doivent être mises sous tutelle pour un redressement financier. Les auditeurs externes peuvent être impliqués dans le processus de supervision, mais ne doivent pas complètement remplacer les régulateurs. Le 3ème essai étudie comment la capacité d'emprunt de l'entreprise non-financière affecte sa politique d'investissement en présence des coûts d'émission de la dette. Il est montré que les entreprises, dont la capacité d'emprunt est moyenne, ont intérêt à réaliser un investissement plus important par rapport aux entreprises dont la capacité d'emprunt est relativement faible/forte. Cela est entièrement dû à l'effet des coûts fixes d'émission de la dette, qui émerge dans le contexte dynamique d'investissement. / This dissertation consists of 3 self-contained theoretical essays.Essay 1 brings into focus the problem of "manufacturing" tail risk in the banking sector. This work shows that, in order to prevent banks from engaging in tail risk, bank capital regulation should account for the internal agency problem between bank shareholders and bank top managers. It is proposed to design bank capital requirements in the form of incentive-based recapitalization mechanism which would induce bank shareholders to shape executive compensation in such a way as to prevent top managers from engaging in tail-risk.Essay 2 deals with the problem of moral hazard in bank asset management. It proposes the concept of incentive-based bank supervision aimed at preventing moral hazard at a minimum cost to the regulator. It is shown that the intensity of supervision efforts should be gradually adjusted to the bank's financial health: banks in the mild form of distress should be subject to random audits, whereas deeply distressed banks should be placed under temporary regulatory control. To prevent double moral hazard, external auditors involved in supervision should be offered the optimal incentive contract.Essay 3 examines the impact of credit rationing (debt capacity) on corporate investment in the setting with costly debt financing. It is shown that, when credit constraints are binding, the firms with intermediate levels of debt capacity will establish larger investment projects than the firms with relatively low or high debt capacity. This non-monotonicity of investment on debt capacity arises due to the effect of the lump-sum debt issuance costs in the dynamic context of investment.

The background of our thesis is the fact that properties and their related industry have a big negative impact on our environment. Since the real estate business is an important part of how the society is constructed, environmental solutions and sustainable real estate development can contribute to positive climate changes globally. The last decades have shown an increasing number of green properties, however the proliferation on the Swedish market is still slow. Existing research describes different benefits and motivators that should encourage investments in environmentally certified properties among real estate companies. Benefits that are established are for example lower energy- and maintenance costs, lower vacancy rate, an improved company image and increasing market value. We believe there is a gap of information considering how the real estate companies experience that these benefits are generated from a green building, as well as how motivators have impacted on the companies’ investment decisions. The purpose of this thesis is therefore to explain how different motivators affect real estate companies to invest in environmentally certified properties. To answer the purpose of our thesis, we have created four different hypotheses based on existing research which includes an improved result, increased economic profitability, improved company image and the opportunity of incentive programs and economic contributions. The hypotheses of our study have been tested with a quantitative method, through a survey. Collected data from our study has been analysed through a multiple regression analysis, where the four motivators have been analysed against the real estate companies share of investment decisions in environmentally certified properties. The conclusion of this thesis is that none of the hypotheses reached statistical significance and therefore the collected data cannot prove any relations between the motivators and companies’ investment decisions. Although, through our study, we have been able to identify both differences and similarities between theoretical claims and the result from our study. Even though statistical relations cannot be confirmed, the survey has collected descriptive data which contributes to a general view of how Swedish real estate companies today evaluate environmentally certified properties and how they are motivated to invest in these properties.