<p>Why do people invest? People are insecure about their future welfare and aim for future guaranteed cash flows. To give ourselves a more thorough introduction to investments we decided to write our bachelor-thesis within the area of finance. This thesis will combine financial institutions and investments. It is a topic repeatedly discussed in the media and a study carried out in Sweden showed that in 2003, 80% of the population were shareholders.</p><p>When trading with stocks and shares there is risk involved that can be defined as the volatility in the cash flow of an investment. A portfolio is a collection of securities that an investor has placed capital in. In order to minimise the risk of the portfolio, the investor can diversify his or her portfolio, which involves investing in different securities in order to minimise risk. Institutional Theory will help us to see how these financial institutions interact with each other and what internal and external factors may influence their behaviour. Institutional investors; such as banks, are seen as large actors on the financial markets as they gain more and more control over the management of equities. It is necessary that intermediaries take care of their customers and inform them thoroughly about the rules of the investment game. With this as a background we felt it would be interesting to investigate the following problem.</p><p>On what basis do financial institutions create their customers’ portfolios and is the process the same across the branch as a whole?</p><p>In order to find an answer to this question; we have done a qualitative study with an overall positivistic influence. The study is based upon an analysis of the empirical material; collected through interviews with three financial institutions, grounded in theory in order to answer our specific question.</p><p>From the information gathered we understood that the first information financial institutions gather is personal information about the investors, which is needed to get a picture and an understanding about their client. We have also learned how important it is to understand risk, as it is the risk that will determine the composition of the portfolio for the investor. We could see with the help of the institutional theory that there is little space for differentiation and can therefore say that the financial institutions work in the same way in the advising of their clients and for the composition of their client’s portfolio.</p><p>Our results show that the basis for the creation of portfolios is more or less the same across the branches as a whole. The service given may differ, due to the competence and knowledge level of employees, between institutions but the end product is similar in all aspects.</p>

Why do people invest? People are insecure about their future welfare and aim for future guaranteed cash flows. To give ourselves a more thorough introduction to investments we decided to write our bachelor-thesis within the area of finance. This thesis will combine financial institutions and investments. It is a topic repeatedly discussed in the media and a study carried out in Sweden showed that in 2003, 80% of the population were shareholders. When trading with stocks and shares there is risk involved that can be defined as the volatility in the cash flow of an investment. A portfolio is a collection of securities that an investor has placed capital in. In order to minimise the risk of the portfolio, the investor can diversify his or her portfolio, which involves investing in different securities in order to minimise risk. Institutional Theory will help us to see how these financial institutions interact with each other and what internal and external factors may influence their behaviour. Institutional investors; such as banks, are seen as large actors on the financial markets as they gain more and more control over the management of equities. It is necessary that intermediaries take care of their customers and inform them thoroughly about the rules of the investment game. With this as a background we felt it would be interesting to investigate the following problem. On what basis do financial institutions create their customers’ portfolios and is the process the same across the branch as a whole? In order to find an answer to this question; we have done a qualitative study with an overall positivistic influence. The study is based upon an analysis of the empirical material; collected through interviews with three financial institutions, grounded in theory in order to answer our specific question. From the information gathered we understood that the first information financial institutions gather is personal information about the investors, which is needed to get a picture and an understanding about their client. We have also learned how important it is to understand risk, as it is the risk that will determine the composition of the portfolio for the investor. We could see with the help of the institutional theory that there is little space for differentiation and can therefore say that the financial institutions work in the same way in the advising of their clients and for the composition of their client’s portfolio. Our results show that the basis for the creation of portfolios is more or less the same across the branches as a whole. The service given may differ, due to the competence and knowledge level of employees, between institutions but the end product is similar in all aspects.

Not many studies have been conducted in the past to determine patients' level of satisfaction in academic dental hygiene settings. This patient satisfaction study analyzed the level of patient satisfaction with the dental hygiene clinic at East Tennessee State University, Johnson City, TN. The purpose of the study was to determine if there was a statistically significant influence of demographic characteristics of the patients and the affective behavior of the care providers on level of patient satisfaction. It was concluded that except for age, other demographic variables did not have any statistically significant influence on patient satisfaction. Also, care provider's affective behavior significantly influenced patient satisfaction. Overall, the dental hygiene patients were satisfied with the clinic. As patients' needs are prioritized in this customer-driven industry, such positive patient satisfaction data can be used for the welfare of the patients, the care providers, and the health care organization.

The thesis focuses on the Supreme Audit Office (SAO) - supreme control institution carrying out an external audit of the public administration in Czech Republic. First part of the thesis includes the basic concepts in the field of public administration. Second part is divided into five blocks, which analyze SAO´s position in public power, its scope and authority, organization, control and financial activities. Next part of the thesis introduces models of supreme control institutions used in France, Germany, Austria, Great Britain, Sweden and Slovakia. Those models are compared with Czech SAO at the end of the chapter. The fourth chapter is based on this comparison and introduces the conclusions and possible changes of Czech legislative framework.

Cette thèse reconstruit et analysent les trajectoires professionnelles des professeurs d'université de l'enseignement supérieur privé à Porto Alegre et de la région métropolitaine qui ont connu la démission de leur carrière universitaire. Il s'agit d'une étude explicative dont l'échantillon, pas probabilistes et intentionnel, se compose de 16 enseignants qui ont travaillé dans des établissements privés d'enseignement supérieur. Les données montre que: le développement de la carrière académique de l'influence positive des trajectoires professionnelles; à haute titrage, de doctorat ou une maîtrise, le temps combiné de l'expérience universitaire, a été essentiel pour le sort des professionnels de chemin vertueux à l'intérieur et en dehors de l'industrie universitaires, les enseignants licenciés, avec moins d'expérience et pas un autre emploi ou de travail, a moins bien les destinations pour ceux qui ont un degré plus élevé de l'employabilité, a démissionné de ressembler à eux-mêmes les processus dans la forme et les motifs, essentiellement des raisons économiques et politiques, la recherche de professeurs permanents dans des établissements conduit à la formation de ghettos institutions qui sont mus par des intérêts politiques, des réseaux de contacts professionnels aidé les enseignants licenciés à se réinsérer plus rapidement sur le marché du travail, la famille a servi de principal affectif, social et économique. Data analysis suggère que le licenciement des enseignants dans les trajectoires professionnelles provoquer une rupture dans les liens de confiance et le sens de la carrière académique, qui influent sur la virtuosité de sa destination. Il indique aussi qu'elles sont affectées par des facteurs, principalement, d'une cycliques, structurels et politiques et que l'action des enseignants n'est pas une réponse suffisante pour changer et commencer à trouver que les obstacles à leur performance professionnelle / Essa tese reconstitui e analisa as trajetórias profissionais dos professores universitários do ensino superior privado de Porto Alegre e Região Metropolitana que passaram pela experiência da demissão nas suas carreiras acadêmicas. Trata-se de um estudo explicativo cuja amostra, não probabilística intencional, é constituída de 16 docentes que atuaram em instituições de ensino superior privado. A análise dos dados mostra que: o desenvolvimento da carreira acadêmica influencia de maneira positiva as trajetórias profissionais; a alta titulação, doutorado ou mestrado, aliada ao tempo de experiência acadêmica, mostrou-se essencial para o destino virtuoso das trajetórias profissionais dentro e fora do setor acadêmico; os professores demitidos, com menor experiência e sem alternativas de emprego ou trabalho, apresentaram destinos menos virtuosos que aqueles com maior grau de empregabilidade; os processos demissionais são similares quanto à forma e razões alegadas, predominando motivos econômicos e critérios políticos; a busca da permanência nas instituições leva os docentes à formação de guetos institucionais que são movidos por interesses políticos; redes de contatos profissionais auxiliaram os professores demitidos a se reinserirem mais rapidamente no mercado de trabalho; a família atuou como o principal suporte afetivo, social e econômico. A análise dos dados sugere que a demissão nas trajetórias profissionais dos professores ocasiona uma ruptura nos laços de confiança e no significado da carreira acadêmica, influenciando a virtuosidade do seu destino. Indica também que estas são impactadas por fatores, predominantemente, de ordem conjuntural, estrutural e política e que a ação dos docentes não é uma resposta suficiente às transformações e entraves que passam a encontrar na sua atuação profissional. / This thesis reconstructs and analyzes the professional trajectories of university teachers of private higher education in Porto Alegre and the metropolitan area that lived the demission experience on yours academic careers. It is an explanatory study whose sample, no probabilistic and intentional, consists of 16 teachers who worked in private institutions of higher education. The data analysis shows that: the development of the academic career of a positive influence the professional trajectories; at high titration, doctoral or master's degree, combined time of the academic experience, was essential for the fate of the virtuous path professionals within and outside the industry academic, the teachers dismissed, with less experience and no alternative employment or work, had less righteous destinations for those with a higher degree of employability, resigned resemble the processes are similar in shape and reasons, mainly economic reasons and political criteria, the search for permanent teachers in institutions leads to the formation of ghettos institutions that are driven by political interests, networks of professional contacts helped the teachers dismissed to reintegrate more quickly in the labor market, the family served as the main emotional, social and economic. Data analysis suggests that the dismissal of teachers in professional trajectories cause a rupture in ties of trust and the meaning of the academic career, influencing the virtuosity of its destination. It also indicates that they are affected by factors, primarily, of a conjunctural, structural and politic and that the action of teachers is not a sufficient response to change and begin to find that barriers in their professional performance.

Cette thèse reconstruit et analysent les trajectoires professionnelles des professeurs d'université de l'enseignement supérieur privé à Porto Alegre et de la région métropolitaine qui ont connu la démission de leur carrière universitaire. Il s'agit d'une étude explicative dont l'échantillon, pas probabilistes et intentionnel, se compose de 16 enseignants qui ont travaillé dans des établissements privés d'enseignement supérieur. Les données montre que: le développement de la carrière académique de l'influence positive des trajectoires professionnelles; à haute titrage, de doctorat ou une maîtrise, le temps combiné de l'expérience universitaire, a été essentiel pour le sort des professionnels de chemin vertueux à l'intérieur et en dehors de l'industrie universitaires, les enseignants licenciés, avec moins d'expérience et pas un autre emploi ou de travail, a moins bien les destinations pour ceux qui ont un degré plus élevé de l'employabilité, a démissionné de ressembler à eux-mêmes les processus dans la forme et les motifs, essentiellement des raisons économiques et politiques, la recherche de professeurs permanents dans des établissements conduit à la formation de ghettos institutions qui sont mus par des intérêts politiques, des réseaux de contacts professionnels aidé les enseignants licenciés à se réinsérer plus rapidement sur le marché du travail, la famille a servi de principal affectif, social et économique. Data analysis suggère que le licenciement des enseignants dans les trajectoires professionnelles provoquer une rupture dans les liens de confiance et le sens de la carrière académique, qui influent sur la virtuosité de sa destination. Il indique aussi qu'elles sont affectées par des facteurs, principalement, d'une cycliques, structurels et politiques et que l'action des enseignants n'est pas une réponse suffisante pour changer et commencer à trouver que les obstacles à leur performance professionnelle / Essa tese reconstitui e analisa as trajetórias profissionais dos professores universitários do ensino superior privado de Porto Alegre e Região Metropolitana que passaram pela experiência da demissão nas suas carreiras acadêmicas. Trata-se de um estudo explicativo cuja amostra, não probabilística intencional, é constituída de 16 docentes que atuaram em instituições de ensino superior privado. A análise dos dados mostra que: o desenvolvimento da carreira acadêmica influencia de maneira positiva as trajetórias profissionais; a alta titulação, doutorado ou mestrado, aliada ao tempo de experiência acadêmica, mostrou-se essencial para o destino virtuoso das trajetórias profissionais dentro e fora do setor acadêmico; os professores demitidos, com menor experiência e sem alternativas de emprego ou trabalho, apresentaram destinos menos virtuosos que aqueles com maior grau de empregabilidade; os processos demissionais são similares quanto à forma e razões alegadas, predominando motivos econômicos e critérios políticos; a busca da permanência nas instituições leva os docentes à formação de guetos institucionais que são movidos por interesses políticos; redes de contatos profissionais auxiliaram os professores demitidos a se reinserirem mais rapidamente no mercado de trabalho; a família atuou como o principal suporte afetivo, social e econômico. A análise dos dados sugere que a demissão nas trajetórias profissionais dos professores ocasiona uma ruptura nos laços de confiança e no significado da carreira acadêmica, influenciando a virtuosidade do seu destino. Indica também que estas são impactadas por fatores, predominantemente, de ordem conjuntural, estrutural e política e que a ação dos docentes não é uma resposta suficiente às transformações e entraves que passam a encontrar na sua atuação profissional. / This thesis reconstructs and analyzes the professional trajectories of university teachers of private higher education in Porto Alegre and the metropolitan area that lived the demission experience on yours academic careers. It is an explanatory study whose sample, no probabilistic and intentional, consists of 16 teachers who worked in private institutions of higher education. The data analysis shows that: the development of the academic career of a positive influence the professional trajectories; at high titration, doctoral or master's degree, combined time of the academic experience, was essential for the fate of the virtuous path professionals within and outside the industry academic, the teachers dismissed, with less experience and no alternative employment or work, had less righteous destinations for those with a higher degree of employability, resigned resemble the processes are similar in shape and reasons, mainly economic reasons and political criteria, the search for permanent teachers in institutions leads to the formation of ghettos institutions that are driven by political interests, networks of professional contacts helped the teachers dismissed to reintegrate more quickly in the labor market, the family served as the main emotional, social and economic. Data analysis suggests that the dismissal of teachers in professional trajectories cause a rupture in ties of trust and the meaning of the academic career, influencing the virtuosity of its destination. It also indicates that they are affected by factors, primarily, of a conjunctural, structural and politic and that the action of teachers is not a sufficient response to change and begin to find that barriers in their professional performance.

Cette thèse reconstruit et analysent les trajectoires professionnelles des professeurs d'université de l'enseignement supérieur privé à Porto Alegre et de la région métropolitaine qui ont connu la démission de leur carrière universitaire. Il s'agit d'une étude explicative dont l'échantillon, pas probabilistes et intentionnel, se compose de 16 enseignants qui ont travaillé dans des établissements privés d'enseignement supérieur. Les données montre que: le développement de la carrière académique de l'influence positive des trajectoires professionnelles; à haute titrage, de doctorat ou une maîtrise, le temps combiné de l'expérience universitaire, a été essentiel pour le sort des professionnels de chemin vertueux à l'intérieur et en dehors de l'industrie universitaires, les enseignants licenciés, avec moins d'expérience et pas un autre emploi ou de travail, a moins bien les destinations pour ceux qui ont un degré plus élevé de l'employabilité, a démissionné de ressembler à eux-mêmes les processus dans la forme et les motifs, essentiellement des raisons économiques et politiques, la recherche de professeurs permanents dans des établissements conduit à la formation de ghettos institutions qui sont mus par des intérêts politiques, des réseaux de contacts professionnels aidé les enseignants licenciés à se réinsérer plus rapidement sur le marché du travail, la famille a servi de principal affectif, social et économique. Data analysis suggère que le licenciement des enseignants dans les trajectoires professionnelles provoquer une rupture dans les liens de confiance et le sens de la carrière académique, qui influent sur la virtuosité de sa destination. Il indique aussi qu'elles sont affectées par des facteurs, principalement, d'une cycliques, structurels et politiques et que l'action des enseignants n'est pas une réponse suffisante pour changer et commencer à trouver que les obstacles à leur performance professionnelle / Essa tese reconstitui e analisa as trajetórias profissionais dos professores universitários do ensino superior privado de Porto Alegre e Região Metropolitana que passaram pela experiência da demissão nas suas carreiras acadêmicas. Trata-se de um estudo explicativo cuja amostra, não probabilística intencional, é constituída de 16 docentes que atuaram em instituições de ensino superior privado. A análise dos dados mostra que: o desenvolvimento da carreira acadêmica influencia de maneira positiva as trajetórias profissionais; a alta titulação, doutorado ou mestrado, aliada ao tempo de experiência acadêmica, mostrou-se essencial para o destino virtuoso das trajetórias profissionais dentro e fora do setor acadêmico; os professores demitidos, com menor experiência e sem alternativas de emprego ou trabalho, apresentaram destinos menos virtuosos que aqueles com maior grau de empregabilidade; os processos demissionais são similares quanto à forma e razões alegadas, predominando motivos econômicos e critérios políticos; a busca da permanência nas instituições leva os docentes à formação de guetos institucionais que são movidos por interesses políticos; redes de contatos profissionais auxiliaram os professores demitidos a se reinserirem mais rapidamente no mercado de trabalho; a família atuou como o principal suporte afetivo, social e econômico. A análise dos dados sugere que a demissão nas trajetórias profissionais dos professores ocasiona uma ruptura nos laços de confiança e no significado da carreira acadêmica, influenciando a virtuosidade do seu destino. Indica também que estas são impactadas por fatores, predominantemente, de ordem conjuntural, estrutural e política e que a ação dos docentes não é uma resposta suficiente às transformações e entraves que passam a encontrar na sua atuação profissional. / This thesis reconstructs and analyzes the professional trajectories of university teachers of private higher education in Porto Alegre and the metropolitan area that lived the demission experience on yours academic careers. It is an explanatory study whose sample, no probabilistic and intentional, consists of 16 teachers who worked in private institutions of higher education. The data analysis shows that: the development of the academic career of a positive influence the professional trajectories; at high titration, doctoral or master's degree, combined time of the academic experience, was essential for the fate of the virtuous path professionals within and outside the industry academic, the teachers dismissed, with less experience and no alternative employment or work, had less righteous destinations for those with a higher degree of employability, resigned resemble the processes are similar in shape and reasons, mainly economic reasons and political criteria, the search for permanent teachers in institutions leads to the formation of ghettos institutions that are driven by political interests, networks of professional contacts helped the teachers dismissed to reintegrate more quickly in the labor market, the family served as the main emotional, social and economic. Data analysis suggests that the dismissal of teachers in professional trajectories cause a rupture in ties of trust and the meaning of the academic career, influencing the virtuosity of its destination. It also indicates that they are affected by factors, primarily, of a conjunctural, structural and politic and that the action of teachers is not a sufficient response to change and begin to find that barriers in their professional performance.

This study aims to determine the main drivers of financial market development, with a specific interest in the relationship between the stock and bank credit markets, as proxies of financial market development, and the role of institutional quality, in ten African countries for the period of 2009 to 2017. A number of econometric techniques such as the General Methods of Moments (GMM) model for dynamic panel data, autoregressive distribution lag (ARDL) bound testing approach to cointegration, vector error correction model (VECM), and granger causality tests were applied in the study. We further developed a composite index for both financial market development and institutional quality using Principal Components Analysis (PCA). The results demonstrate that institutional quality, as well as infrastructure development, economic growth, and inflation are the main determinants of financial market development in our sample of ten African countries. Findings from the ARDL bound testing approach confirm the existence of a long-run association between institutional quality and financial market development. Although financial market development has no effect on economic growth, institutional quality was found to have a positive and highly significant effect on economic growth. Furthermore, employing the Granger causality test, we found uni-directional granger causality between financial market development and institutional quality, implying that financial market development is a significant causal factor for institutional quality. In consideration of these findings, policy formulation by governments should be designed towards enhancing financial and institutional quality development, and this can be possibly achieved by effective enforcement of law to encourage compliance, while simultaneously eliminating corruption and other institutional hindrances to development / Lolu cwaningo luhlose ukuveza izinhlaka ezingabaphembeleli abasemqoka ekuthuthukisweni kwezimakethe zezimali, kugxilwe kakhulu kubudlelwano obuphakathi kwesitoko kanye nezimakethe zamabhangi ahlinzekana ngezikweletu, njengabancedisi abathuthukisa izimakethe zezimali, kanye nendima emayelana nezinga leziko, emazweni ase-Afrika ayishumi esikhathini esiphakathi kuka 2009 ukufikela ku 2017. Inani lezindlela zokulinganisa izinga lomnotho ezinjenge-General Methods of Moments (GMM) model yedatha yephaneli eguquguqukayo, i-autoregressive distribution lag (ARDL) bound testing approach to cointegration, i-vector error correction model (VECM), Kanye negranger causality tests zisetshenzisiwe kucwaningo. Siqhubekele phambili nokwakha inkomba ehlangene yazo zombili izinhlaka; ukuthuthukiswa kwezimakethe zezimali Kanye nezinga leziko ngokusebenzisa uhlelo lwe-Principal Components Analysis (PCA). Imiphumela ikhombisile ukuthi izinga leziko, Kanye nokuthuthukiswa kwengqalasizinda, ukuhluma komnotho, Kanye nezinga lamandla email yizinkomba ezisemqoka zokuthuthukiswa kwezimakethe zezimali kusampuli yethu elula yamazwe ase-Afrika ayishumi. Ulwazi olutholakele ku-ARDL bound testing approach luqinisekisa ubukhona kobudlelwano besikhathi eside obuphakathi kwezinga leziko kanye nokuthuthukiswa kwezimakethe zezimali. Yize ukuthuthukiswa kwemakethe yezimali kungenawo umthelela kwezokuhluma komnotho, izinga leziko lona liye latholakala ukuthi linomthelela omuhle nosemqoka kakhulu ekukhuleni komnotho. Ngaphezu kwalokho, uma sisebenzisa uhlelo lweGranger causality test, sifumene i-uni-directional granger causality phakathi kwemakethe yezimali Kanye nezinga leziko, lokhu kuchaza ukuthi ukuthuthukiswa kwezimakethe zezimali kuyimbangela esemqoka yezinga leziko. Uma kubhekwa lolu lwazi olutholakele, imigomo eyakhwa uhulumeni kufanele yakhiwe ngenhloso yokuqinisa ukuthuthukiswa kwezinga lezimali Kanye nezinga leziko, kanti lokhu kungafinyelelwa ngokuqinisa kahle umthetho ukukhuthaza ukulandelwa komthetho, kanti ngakolunye uhlangothi kuncishiswe izinga lenkohlakalo Kanye nezinye izihibhe eziphazamiso ukuthuthukiswa kweziko. / Maikaelelo a thutopatlisiso ke go swetsa ka ditsamaisi tse dikgolo tsa tlhabololo ya mebaraka ya ditšhelete, ka kgatlhego e rileng mo kamanong magareng ga mebaraka ya setoko le ya sekoloto sa dibanka, jaaka kemedi ya tlhabololo ya mebaraka ya ditšhelete, le seabe sa boleng jwa ditheo, mo dinageng di le lesome tsa Aforika mo pakeng ya 2009 go ya go 2017. Go dirisitswe dithekeniki di le mmalwa tsa ikonometiriki di tshwana le sekao sa General Methods of Moments (GMM) sa data ya phanele e anameng, molebo wa tekeletso e kopanyang ya autoregressive distribution lag (ARDL), sekao sa vector error correction (VECM) le diteko tsa sesusumetsi tsa Granger. Gape re tlhamile tshupane ya dikarolo ya tlhabololo ya mmaraka wa ditšhelete le boleng jwa ditheo re dirisa Tokololo ya Dikarolo tse Dikgolo (Principal Components Analysis (PCA)). Dipholo di bontsha gore boleng jwa ditheo, gammogo le tlhabololo ya mafaratlhatlha, kgolo ya ikonomi le infoleišene ke diswetsi tsa tlhabololo ya mebaraka ya ditšhelete mo sampoleng ya rona ya dinaga di le lesome tsa Aforika. Diphitlhelelo go tswa mo molebong wa teko e kopanyang ya ARDL di tlhomamisa go nna teng ga kamano ya paka e telele magareng ga boleng jwa ditheo le tlhabololo ya mebaraka ya ditšhelete. Le fa tlhabololo ya mebaraka ya ditšhelete e sa ame kgolo ya ikonomi ka gope, boleng jwa ditheo bo fitlhetswe bo na le ditlamorago tse di siameng e bile di le botlhokwa mo kgolong ya ikonomi. Mo godimo ga moo, ka go dirisa teko ya Granger ya sesusumetsi, re fitlhetse go na le sesusumetsi sa ntlha e le nngwe sa Granger magareng ga lhabololo ya mebaraka ya ditšhelete le boleng jwa ditheo, mo go rayang gore tlhabololo ya mebaraka ya ditšhelete ke ntlha e e botlhokwa ya sesusumetsi sa boleng jwa ditheo. Fa go lebelelwa diphitlhelelo tseno, go dirwa ga dipholisi ke dipuso go tshwanetse ga dirwa gore go tokafatse tlhabololo ya boleng jwa ditšhelete le ditheo, mme seno se ka fitlhelelwa ka tiragatso e e bokgoni ya molao go rotloetsa kobamelo mme go ntse go fedisiwa bobodu le dikgoreletsi tse dingwe tsa tlhabololo mo ditheong. / Business Management / M. Com. (Business Management (Finance))