A inovação financeira, caracterizada pela criação de novas estruturas e instrumentos jurídicos e financeiros nas últimas décadas, impactam os tradicionais conceitos do direito societário e a própria interpretação das normas vigentes. Assim, a partir do estudo das acepções e funções exercidas pelo capital social, buscou-se confrontá-lo com instrumentos criados para obtenção de recursos para as companhias bem como com alternativas para a proteção dos credores. O presente trabalho explora o tema buscando de início identificar a origem das formas associativas e o precedente histórico da companhia aberta para, em seguida, adentrar na disciplina jurídica do capital social, suas características e propósitos. Então, por fim, trata-se, em capítulos apartados, da securitização de créditos, da desconsideração da personalidade jurídica e do patrimônio de afetação, procedendo-se a uma comparação com o instituto do capital social, sem concentração específica na disciplina desses instrumentos. / Financial innovation, characterized by the development of new structures and legal and financial instruments in the past decades, impacts the traditional concepts of corporate law, as well as the interpretation of existing legislation. Starting from an analysis of the different meanings and functions of the legal capital of companies, it was sought to specifically examine this concept in light of mechanisms devised for the funding of companies and for the protection of creditors. This paper analyzes the matters seeking, initially, to identify the forms of association and the historical background of the publicly¬-held company in order to then analyze the rules pertaining to the legal capital, with its characteristics and purposes. Last, we examine, in separate chapters, of credit securitization, of the lifting of the corporate veil, and of the segregated capital, comparing each of these concepts with that of the legal capital, instead of focusing on the specific legal rules pertaining to such concepts.

Venture capital é espécie de empreendimento que vincula dois agentes econômicos, empreendedor e investidor, visando ao desenvolvimento de uma ideia inovadora para posterior comercialização no mercado. O empreendedor é detentor de conhecimento sobre a ideia e o investidor possui os recursos para desenvolver o projeto. O negócio se diferencia dos demais pelo alto grau de incerteza e risco do empreendimento e requer o uso de tipos contratuais adequados para sua limitação. O projeto se inicia com a etapa de contratação, na qual as partes negociam a divisão de riscos e retorno do negócio, seguindo-se a etapa de monitoramento do desenvolvimento das atividades. Ao final ocorre o desinvestimento, com a saída do investidor e venda do negócio. Do ponto de vista da Economia, utilizamos a Teoria dos Jogos e apresentamos os problemas informacionais, riscos e incertezas do negócio, e os incentivos para organizar a cooperação entre as partes. Do ponto de vista de Finanças, debatemos a decisão de financiamento do negócio e as alternativas para diversificação dos riscos do investimento, isto é, a possibilidade de limitação dos riscos pela adoção de estratégias de contenção, que aumentam o interesse em contratar o negócio. Do ponto de vista do Direito, avaliamos qual a estrutura contratual ideal para organizar esse tipo de empreendimento. Analisamos as principais formas usadas para organização do negócio, em especial as sociedades limitadas e as sociedades anônimas fechadas. Avaliamos o suporte normativo aplicável, com destaque para a possibilidade de limitação dos riscos do projeto pela aplicação das normas de Direito Societário a esses empreendimentos. Os principais riscos aplicáveis são os riscos de contratação do negócio, os riscos de alocação do poder de decisão entre os sócios e os riscos de interrupção prematura do projeto. Devido à natureza e características do negócio de venture capital, concluímos que esse tipo de projeto é mais bem organizado como um contrato plurilateral e que não há tipo contratual ideal para alinhar os interesses. Dos tipos existentes, a sociedade anônima fechada é o mais adequado, mas incapaz de limitar todos os riscos do negócio. A conclusão é confirmada, parcialmente, pelas evidências empíricas apresentadas. / Venture capital is a business that links two economic agents, entrepreneur and investor, aiming to develop an innovative idea for future sale on the market. The entrepreneur holds knowledge about the idea and the investor has the resources to develop the project. It is distinguished from others by the high degree of uncertainty and risk of the project and requires the use of appropriate contract types for its restriction. The project begins with the contracting stage, in which the parties negotiate the division of risks and return business, followed by the monitoring of the development of the business activities. At the end occurs the divestment, in which the finished business is sold by the investor. From the point of view of Economics, we use Game Theory to present the informational problems, business risks and uncertainties, and the incentives to organize the cooperation between the parties. From the standpoint of Finance, we discuss the decision to finance the business, and alternatives for risk diversification, that is, the possibility of limiting the risks by adopting containment strategies that may increase the interest in contracting. From the point of view of Law, we evaluate the ideal contractual structure for organizing this kind of project. We analyze the main existing contract types, in particular, the limited liability companies and the closed corporations. We present our concerns about the normative support applicable to that type of business, emphasizing the Corporate Law problems. We evaluate the normative support applicable, emphasizing the possibility of limiting the project risks by applying the Corporate Law rules to such ventures. The main risks are the risks applicable to the contracting phase, the risk of incorrect allocation of decision rights between the partners and the risk of premature termination of the project. Due to the nature and characteristics of the venture capital business, we conclude that this type of design is best organized as a plurilateral agreement and that there is no contract type that can be considered ideal to align the interests. Considering all the existing types, the private corporation contract is the most appropriate form, but also unable to limit all the business risks. The conclusion is partially supported by the empirical evidence presented.

En av de svåraste utmaningarna som ett företag står inför är jämvikten mellan användbarhet och säkerhet, så att ingen av dessa väger över och på så vis påverkar organisationen negativt. Utifrån intervjuer med anställda har användbarheten undersökts, även samtal med ansvariga inom IT-säkerhet har givit förståelse för företagets arbete inom området. I det undersökta företaget kan man se att stor tyngd läggs på säkerheten, vilket kan påverkar användbarheten för användarna. Eftersom det i nuläget saknas en utredning och ett riktigt beslutsunderlag av vilka användare som skall ha vilka behörigheter på sina datorer, ges i slutet av arbetet rekommendationer till företaget gällande användartypernas fördelning utifrån säkerhetsperspektiv och ur användarnas egen användbarhetsuppfattning.

En application, on souhaite générer des nombres aléatoires avec une loi précise (méthode de Monte Carlo par chaines de Markov - MCMC (Markov Chaine Monte Carlo)). La méthode consiste à trouver une diffusion qui a la loi invariante souhaitée et à montrer la convergence de cette diffusion vers son équilibre avec une vitesse exponentielle. L’exposant de cette convergence est le trou spectral du générateur. Il a été montré par Chii-Ruey Hwang, Shu-Yin Hwang-Ma, et Shuenn-Jyi Sheu qu’on peut agrandir le trou spectral, en rajoutant un terme non-symétrique au générateur auto-adjoint (souvent utilisé en MCMC). Ceci correspond à passer d’une diffusion réversible (en detailed balance) à une diffusion non réversible. Un moyen de construire une diffusion non-réversible avec la même mesure invariante est de rajouter un flot incompressible à la dynamique de la diffusion réversible.Dans cette thèse, nous étudions le comportement de la diffusion lorsqu’on accélère le flot sous-jacent en multipliant le champ des vecteurs qui le décrit par une grande constante. P. Constantin, A.Kisekev, L.Ryzhik et A.Zlatoš (2008) ont montré que si le flot était faiblement mélangeant alors l’accélération du flot suffisait pour faire converger la diffusion vers son équilibre en un temps fini. Dans ce travail, on explicite la vitesse de ce phénomène sous une condition de corrélation du flot. L’article de B. Franke, C.-R.Hwang, H.-M. Pai et S.-J. Sheu (2010) donne l’expression asymptotique du trou spectral lorsque le flot sous-jacent est accéléré vers l’infini. Ici aussi, on s’intéresse à la vitesse avec laquelle le phénomène se manifeste. Dans un premier temps, nous étudions le cas particulier d’une diffusion du type Ornstein-Uhlenbeck qui est perturbée par un flot préservant la mesure gaussienne. Dans ce cas, grâce à un résultat de G. Metafune, D. Pallara et E. Priola (2002), nous pouvons réduire l’étude du spectre du générateur à des valeurs propres d’une famille de matrices. Nous étudions ce problème avec des méthodes de développement limité des valeurs propres. Ce problème est résolu explicitement dans cette thèse et nous donnons aussi une borne pour le rayon de convergence du développement. Nous généralisons ensuite cette méthode dans le cas d’une diffusion générale de façon formelle. Ces résultats peuvent être utiles pour avoir une première idée sur les vitesses de convergence du trou spectral décrites dans l’article de Franke et al. (2010). / In application, we would like to generate random numbers with a precise law MCMC (Markov Chaine Monte Carlo). The method consists in finding a diffusion which has the desired invariant law and in showing the convergence of this diffusion towards its equilibrium with an exponential rate. The exponent of this convergence is the spectral gap of the generator. It was shown by C.-R. Hwang, S.-Y. Hwang-Ma and S.-J. Sheu that the spectral gap can grow up by adding a non-symmetric term to the self-adjoint generator.This corresponds to passing from a reversible diffusion to a non-reversible diffusion. A means of constructing a non-reversible diffusion with the same invariant measure is to add an incompressible flow to the dynamics of the reversible diffusion.In this thesis, we study the behavior of diffusion when the flow is accelerated by multiplying the field of the vectors which describes it by a large constant. In 2008, P. Constantin, A. Kisekev, L. Ryzhik and A. Zlatoˇs have shown that if the flow was weakly mixing then the acceleration of the flow was sufficient to converge the diffusion towards its equilibrium after finite time. In this work, the speed of this phenomenon is explained under a condition of correlation of the flow. The article by B. Franke, C.-R.Hwang, H.-M. Pai and S.-J.Sheu (2010) gives the asymptotic expression of the spectral gap when the large constant goes to infinity. Here we are also interested in the speed with which the phenomenon manifests itself. First, we study the special case of an Ornstein-Uhlenbeck diffusion which is perturbed by a flow preserving the Gaussian measure. In this case, thanks to a result of G. Metafune, D. Pallara and E. Priola (2002), we can reduce the study of the generator spectrum to eigenvalues of a family of matrices. We study this problem with methods of limited development of eigenvalues. This problem is solved explicitly in this thesis and we also give a boundary for the convergence radius of the development. We then generalize this method in the case of a general diffusion in a formal way. These results may be useful to have a first idea on the speeds of convergence of the spectral gap described in the article by Franke et al. (2010).

Today there are no fully general analytical techniques available for detection and confirmation of known and unknown substances in toxicological screening, further tools are therefore needed. The development of mass spectrometry with time-of-flight (TOF) detection is promising but there are still areas to be further developed and evaluated, both instrumentation and applications. During 2009 The National Board of Forensic Medicine-Department of Forensic Genetics and Forensic Toxicology, (RMV) started cooperation with the instrumentation company Waters (Manchester, UK) and the Department of Clinical Pharmacology (KI, Solna) evaluating a new TOF-instrument for toxicological screening. My assignment as a part of this project has been to create a limited and relevant database of drugs and toxics in Excel, including monoisotopic mass, used when screening for pharmaceutical substances and their metabolites most probable to be found in Swedish autopsy material. A limited database has been developed based on information from several sources, it ended up in 875 analytes and metabolites. A limited but complete database is more reliable in practise than a big database, by means of a lower frequency of isobars and more information included (e.g. retention time from liquid chromatography) making analysis faster. Commercial databases are generally theoretical, lacking information about for example retention time that often is an important criterion for identification.

D'un côté, la démocratie et l'économie de marché changent la conception du pouvoir en Pologne, et de ce fait appellent un positionnement nouveau de l'enseignant-chercheur. De l'autre, la neurobiologie jette un éclairage nouveau sur le fonctionnement de l'individu en groupe et sur le traitement de l'information en cours d'apprentissage. L'étude du contexte scolaire polonais fait voir une possibilité de décentralisation des relations en classe, tout en prenant en compte les besoins sociaux et émotionnels de l'apprenant.Le présent projet de thèse, réalisé dans le cadre de la recherche-action, vise l'implication de l'élève par le biais d'un dispositif nommé : Discussion à Responsabilité Limitée (DARL). Grâce au dispositif, l'apprenant a la possibilité d'exercer des choix (documents de référence, groupe de discussion, prise de parole et son étendue); il a aussi l'occasion d'être dans une situation à responsabilité (choix du sujet et gestion d'une discussion). Les analyses des prises de parole en groupe ont démontré un lien entre la responsabilisation et l'augmentation du volume de prise de parole dans plusieurs cas décrits. Elles ont mis aussi en exergue des comportements d'auto-limitation de parole chez les apprenants-responsables qui, en tant que participants, étaient habituellement très actifs. Outre ces acquis d'ordre langagier, la recherche rend compte des attitudes des apprenants envers le travail et l'autorité.Le travail de thèse s'ouvre sur les Technologies de l'Information et de la Communication (TIC) qui, tout en résolvant certains problèmes liés au dispositif proposé,initient des questions nouvelles, relatives à l'interaction en groupe et à l'évaluation. / On the one hand, democracy and market economy have changed the concept of powerin Poland and they thereby ask for a new positioning of the teacher-researcher. On the otherhand, neurobiology sheds new light on the way an individual functions in a group, and oninformation processing during learning.The study of the Polish educational context authorizes a wider implementation oflearner-centered rather than teacher-centered classroom practices, while paying attention tothe learner's social and emotional needs.The project, realized in the action-research framework, aims at involving the studentthrough an environment called : Limited Liability Discussion (LLD). Thanks to thisenvironment, the learner has a chance to choose (reference documents, discussion group,speaking out and its duration); he also has an opportunity to be in a situation with a certainlevel of responsibility (choice of a topic and management of the discussion).The analysis of speaking out in a group has established a connection betweenempowerment and the increase in oral production in the majority of the described cases. Theresults of the analysis have also emphasized specific behaviour of self-limitation in speakingin the case of "responsible" learners who, as participants, were usually very active. Apart fromlanguage acquisition gains, this research highlights learner attitudes to work and authority.The thesis opens on Information and Communication Technologies (ICT) which solvesome of the problems connected with the proposed environment, but at the same time raisenew questions, related to interaction in a group as well as assessment.

and keywords This diploma thesis deals on the competence of general assembly in a limited liability company. In the introduction the author made a brief historical summary presenting the previous legislation of the Czech republic. The thesis is divided into four parts. The first part concerns with the general findings on the competence of general assembly including its classification. The second part is special to the first one, since it concerns with particular cases of competencies. This part is the most voluminous one because of its goal to interpret various conditions to take a decision depending on case of competency. In the third part the author made description of the French legislation and compared it to the Czech one. From the previous findings the author made a critical evaluation of contemporary legislation in the fourth part as well as specific suggestion for law-making changes.

in English Duty to act with due managerial care in the course of management of a joint stock company in the Czech Republic with regard to the regulation in Great Britain. This thesis deals with duties of members of board of directors, especially with the duty of care, skill and diligence. The aim of the thesis is to analyze in detail the duty of care, skill and diligence owed by the members of board of directors to the company. Another aim of the thesis is to compare a legal framework of duty of care, skill and diligence according to the commercial code (‚obchodní zákoník') with the legal framework of duty of care, skill and diligence according to the (new) civil code (‚občanský zákoník') and to predict whether the existing cases could still be applicable in the future. The last and perhaps the most significant aim of the thesis is to compare the Czech legal framework of the duty of care, skill and diligence with the English legal framework of the above mentioned duty. The english corporate law has been developing for centuries, thanks to which the comparative part of the thesis is not only a theoretical treatise, but also a stimulative inspiration for the Czech legal system de lege ferenda.

SETTLEMENT SHARE AND DETERMINATION OF ITS AMOUNT ABSTRACT The subject of my thesis is to analyse the legal regulation governing the settlement share and determination of its amount. The aim is to provide comprehensive picture of the issue of the settlement share both in terms of the commercial law, as well as in terms of the tax and accounting law. With regard to the recent and significant changes in private law, and thus in the area of settlement share, there is devoted ample space in the thesis to comparison of the current and former legal framework including application of the available judicature. The change of the particular law brought a lot of new questions and disputed interpretations, which are subsequently identified and analysed. My thesis consists of introduction, seven chapters and conclusion. Chapters one to four represent a general part in relation to the settlement share. The first chapter gives the definition of a settlement share from both the legal and economical perspective. It includes also consideration about possible treatment with the settlement share. The second chapter deals with the termination of the participation of a partner, which leads to the constitution of the settlement share. Chapter three analyses the various options for determining the value of the settlement share...

This diploma thesis deals with the regulation of the duty of due managerial care of members of a governing body of a limited company. The aim is to evaluate Czech national law with respect to the relevant British law rules. Another objective is to propose de lege ferenda amendments to current state of law. The thesis is divided into three chapters The first chapter defines the duty of due managerial care and the content of duties imposed on members of a governing body of a company in Great Britain. Judicial decisions of both jurisdictions reveal that directors are not expected to have a knowledge possessed by a specialist. However, good general knowledge is required. Subsequently, the dual objective / subjective standard is introduced. Lord Hoffmann borrowed the test set by the Insolvency Act 1986 and stated that such a test should not just apply during insolvency. The second chapter is dedicated to fiduciary duties and the position of duty of loyalty within the scope of due managerial care. The aim is to present the subjective test covering acts exercised to promote the success of a company. The standard rests upon the idea that directors must exercise their discretion bona fide in what they consider, not what the court may consider, is in the interest of the company. Another field of interest is...