Nesta dissertação são analisados os contratos de lease-back perante a lei brasileira. Lease-back é uma modalidade de arrendamento mercantil financeiro em que o vendedor do bem e o arrendatário são a mesma pessoa jurídica. Desde 1930, teorias econômicas, políticas e jurídicas têm debatido a importância de propriedade e controle de bens no capitalismo, sendo hoje geralmente aceito que empresas não precisam ter a propriedade dos ativos para desenvolver suas atividades. Neste contexto, operações de lease-back podem ser usadas pelas empresas como uma fonte alternativa de financiamento, em que se dispõe do direito de propriedade sem perder o direito de usar e fruir dos ativos. O foco desta dissertação consiste em analisar (i) o que é um contrato de lease-back; (ii) os elementos de contratos de lease-back; e (iii) a legalidade de contratos de lease-back perante a lei brasileira, especialmente em vista da proibição do pacto comissório em direitos reais de garantia (penhor, hipoteca e anticrese) e na alienação fiduciária em garantia. / This dissertation analyzes lease-back agreements under Brazilian law. Lease-back is a type of finance lease (arrendamento mercantil financeiro) wherein the seller of the asset and the lessee are the same legal entity. Since 1930s economic, political and legal theories have debated the importance of ownership and control in capitalism and nowadays it is commonly accepted that companies do not need to retain ownership of their assets to develop their business. In this context, lease-back transactions can be used by companies as an alternative source of financing, by disposing of the ownership of their assets without losing the right to use them. The focus of this dissertation is to analyze (i) what is a leaseback agreement; (ii) the elements of lease-back agreements; and (iii) the legality of leaseback agreements under Brazilian law especially in view of potential violation to rules prohibiting pactum commissorium in agreements involving in rem security interests (pledge, mortgage and antichresis) or chattel mortgage (alienação fiduciária em garantia).

I present an empirical model that is based upon the findings of both the conceptual and empirical models of previous research. I first control for independent property, location, macroeconomic and capital market specific variables on the dependent variables that takes on the form of both the cap rate and sales price. Next I introduce two new variables that represent the transaction constraint and the default risk of the tenant. I find that the variable market which represents the time an individual property is on the market is statistically significant and has a negative coefficient of when regressed on sales price and a positive coefficient when regressed on the cap rate. When the market variable is further broken into bins, I found that the time on the market does not negatively impact a property unless it is in fact on the market for over 2 years. When the variable representing a tenant’s default risk is regressed on the cap rate I found the tenants probability of default to be statistically significant with a negative coefficient. This result is counter intuitive and most likely represents the data set being controlled for investment grade credit rated tenants.

Nesta dissertação são analisados os contratos de lease-back perante a lei brasileira. Lease-back é uma modalidade de arrendamento mercantil financeiro em que o vendedor do bem e o arrendatário são a mesma pessoa jurídica. Desde 1930, teorias econômicas, políticas e jurídicas têm debatido a importância de propriedade e controle de bens no capitalismo, sendo hoje geralmente aceito que empresas não precisam ter a propriedade dos ativos para desenvolver suas atividades. Neste contexto, operações de lease-back podem ser usadas pelas empresas como uma fonte alternativa de financiamento, em que se dispõe do direito de propriedade sem perder o direito de usar e fruir dos ativos. O foco desta dissertação consiste em analisar (i) o que é um contrato de lease-back; (ii) os elementos de contratos de lease-back; e (iii) a legalidade de contratos de lease-back perante a lei brasileira, especialmente em vista da proibição do pacto comissório em direitos reais de garantia (penhor, hipoteca e anticrese) e na alienação fiduciária em garantia. / This dissertation analyzes lease-back agreements under Brazilian law. Lease-back is a type of finance lease (arrendamento mercantil financeiro) wherein the seller of the asset and the lessee are the same legal entity. Since 1930s economic, political and legal theories have debated the importance of ownership and control in capitalism and nowadays it is commonly accepted that companies do not need to retain ownership of their assets to develop their business. In this context, lease-back transactions can be used by companies as an alternative source of financing, by disposing of the ownership of their assets without losing the right to use them. The focus of this dissertation is to analyze (i) what is a leaseback agreement; (ii) the elements of lease-back agreements; and (iii) the legality of leaseback agreements under Brazilian law especially in view of potential violation to rules prohibiting pactum commissorium in agreements involving in rem security interests (pledge, mortgage and antichresis) or chattel mortgage (alienação fiduciária em garantia).

This thesis deals with leasing, its division, legal, tax and accountig framework of leasing in the Czech Republic. Accounting and tax part focuses on obligations of a leasholder and a lessor. One part is dedicated to lease market in the Czech Republic and on part deals with IFRS.

President Franklin D. Roosevelt and Undersecretary of State Sumner Welles began trying to make military matériel available to Latin America during the latter 1930s. Little progress was made until passage of the Lend-Lease Act in 1941 enabled Washington to furnish eighteen Latin American nations with about $493,000,000 worth of military assistance during World War II. This study, based primarily on State Department lend-lease decimal files in the National Archives and documents published in Foreign Relations volumes, views the policy's background, development, and implementation in each recipient nation. The conclusion is that the policy produced mixed results for the United States and Latin America.

Mer än 300 000 enskilda skogsägare äger tillsammans 48% av den produktiva skogsmarken i Sverige. Många värdesätter att fastigheten överlåts till kommande generationer inom familjen. Vind- och solkraftsproduktion blir allt vanligare och ger ekonomisk kompensation till markägaren. För att möta efterfrågan på klimatsmart el kommer sannolikt markupplåtelse för ändamålet öka, och förändrade förutsättningar på fastigheten kan påverka generationsskiftet. Studier visar att närliggande vind- och solcellsanläggningar sänker huspriser, men det saknas studier med fokus på markägar- och överlåtelseperspektivet samt intrångsersättningen som upplåtelsen innebär. Studien genomfördes som en kvalitativ intervjustudie i syfte att undersöka hur markupplåtelse till vind- och solkraft påverkar fastighetens marknadsvärde samt hur det påverkar generationsskiftet. Resultatet visade att markupplåtelsen genererar intäkter som ur ett strikt ekonomiskt perspektiv ökar fastighetsvärdet och därmed kan bli utmanande då den övertagande parten kan få svårare att finansiera generationsskiftet. Västerbotten är en av de ledande regionerna inom vindkraftsproduktion och utgjorde studiens geografiska fokusområde.

The principles versus rules debate has long since been a conversation in the accounting world, but the conversation heated up in the early part of the 21st century on the heels of a few highly publicized accounting frauds. In an increasingly globalized business environment, convergence between the more rules-oriented US GAAP and more principles-oriented IFRS is becoming more and more relevant. This study attempts to better inform that debate, exploring the accounting conceptual framework, United States legal environment, and the costs and benefits of adopting a more principles-oriented set of accounting standards. This study concludes that, though there would likely be some costs initially, principles-oriented standards give managers the ability to produce more relevant, comparable, and reliable financial statements, and can even serve to deincentivize fraudulent behavior. By adjusting the incentive structure, managers would no longer be offered protection by bright-line rules, instead required to more faithfully represent the economic reality of their firm. However, though rules-oriented standards like lease accounting are in need of improvement, due to the complex nature of some transactions, not all standards can be solely principles-oriented. As such, the FASB should develop a propensity away from rules, detailed guidance, and exceptions whenever possible.

This exploratory study examined the impact of company-provided training on the turnover rate of full-time leasing consultants in the apartment management industry. A national survey was conducted using the Institute of Real Estate Management (IREM) directory of Accredited Management Organization (AMO) companies.The survey was mailed to the 419 AMO companies that employ leasing consultants. with a response rate of 69 surveys. A statistically significant correlation was shown between the True Turnover Rate and the provision of education for leasing consultants. The three significant variables that appeared to reduce turnover included 1) tuition reimbursement at up to 50%, 2) tuition reimbursement at 51%-100%, and 3) number of hours of training per year provided. Other trends were found in this exploratory study. / Department of Family and Consumer Sciences

Commercial establishment as an object of legal relationship (purchase of commercial establishment and usufructuary lease of commercial establishment) The topic of this thesis is "Commercial establishment as an object of legal relationship (purchase of commercial establishment and usufructuary lease of commercial establishment)". From the title it is obvious that commercial establishment is an object of legal relationship but not a subject of legal relationship which is a considerable part of its understanding. With the acceptance of the Czech Civil Code a lot of changes came to this institute, including name change. This is the reason why it was necessary to conceive this matter complexly, from the basic term to specifics of particular legal relationships. The first part of this thesis is focussed on a basic term of commercial establishment and its circumscription in the Czech Civil Code, where it is understood as a set of asset and also as an agent for entrepreneurial activities. This part analyses particular kinds of commercial establishment and also branch of another parts of commercial establishment. The second part is dedicated to various examples of legal relationships where the commercial establishment might be the object. Particular legal relationships are concisely characterised. In this part there...

This thesis examines legal protection of the tenant. With respect to a limited extent the thesis focuses only on the selected issues that are significant from a perspective of tenant. The topic was chosen because of the fact that tenancy is one of the most common legal relations with an important social aspect, because many people fulfill their accommodation requirements through it. The new Civil Code, effective as of 1.1.2014, brought many major changes that could have real impact on tenants' lives. The main purpose of this thesis is to analyze these changes and compare them with the previous legal regulation. Moreover, this thesis tries to identify problematic provisions of the new Civil Code and provide the readers with a practical advice and recommendations as well. From the structural point of view the thesis is divided into chapters, each of them focused on different issue. The first chapter briefly describes what residential lease is, shows its principle features and finally deals with the protective character of the legal regulation. The second chapter focuses on the rights and duties of the contracting parties. Running a business in an apartment is described as well as the apartment maintenance. The chapter number three draws an attention to a renting to the pet owners and provides with a...