The objective of this thesis is to see how effectively can central banks can conduct monetary policy under specific circumstances. Four hypothesis are being examined on the case study of five central banks - the Czech National Bank, the Central Bank of Chile, the Bank of Jamaica, the Central Bank of Argentina and the Swiss National Bank. Firstly this work confirms that solid monetary policy can be applied even if CB is dealing with loss based on inflation targeting success rate of central banks. Secondly, in the case of Czech National Bank using VAR, was concluded that inflation expectations can influence the outcome of CB's monetary policy. In the second part of this hypothesis the expectations from the government side in SNB case were examined. On the case of Argentina the negative effect of adjusting monetary policy was demonstrated. The last part elaborates on the topic of determining optimal capitalisation of central bank.

This thesis explores the notion of social enterprise in Greece. In particular it investigates how non-profits incorporate social enterprise in an environment facing a severe financial and social crisis. The study is done through a participatory and reflective research approach that allows the emergence of enriched results. The review of the existing literature in this area revealed that despite the lack of a universal definition, the concept of social enterprise has generally been viewed positively and has raised the expectations for social and economic transformation. Policy makers expect social enterprises to become a lever out of the crisis of reducing state funding and contribute to financial and social change. Until recently, the common assumption was that social enterprises emerge bottom-up and constitute the most ethical option of social welfare services provision after the failure of the state and the markets to provide for society. Hence, non-profits were encouraged to adopt entrepreneurial techniques to support their social purpose as a way out of the financial problems they are facing. The great interest on the effect of 'social enterprise' on the traditional non-profit sector comes from the peculiarity of the Greek case with the top-down enforcement of the concept coupled with a history of corruption in civil society. Even though researchers following a more critical stance towards social enterprises challenge the underlying assumptions of this new concept and raise awareness about its negative impacts, in Greece the 'social economy' and 'social enterprise' concepts are used as 'silver bullets' by policy makers. Wishing to follow this critical tradition, I proceeded with an in-depth case study drawing upon participant observation and reflective methods. In locating my research in an active non-profit organisation in Athens, I intended that my findings could be extended to similar organisations. This thesis found that in Greece, the top-down implementation of the concept allowed non-profits to incidentally adopt this rhetoric in order to ensure their long-term survival and then in turn influence the way society makes sense of social enterprises. The institutional environment further hinders the growth of the sector as it directs the social enterprises and non-profits towards public procurement making and any other alternative seems impossible. Lastly, based on the above findings, I conclude that social economy despite its infancy faces the risk of corruption. Hence, I suggest that policy makers' support, rather than guide, social enterprises to allow them to achieve their full potential. Future research and practice need to focus on raising awareness for the social economy and assessing social impact as a way to improve transparency and gain the trust of society.

Li Wing-Yi. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2004. / Includes bibliographical references (leaves 93-96). / Abstracts in English and Chinese. / Abstract --- p.i / 摘要 --- p.ii / Acknowledgement --- p.iii / Table of Contents --- p.iv / List of Tables --- p.vii / Chapter Chapter 1 --- Introduction --- p.1 / Chapter Chapter 2 --- Literature Review --- p.5 / Chapter 2.1 --- Relevant Dividend Literature / Chapter 2.1.1 --- Dividend Irrelevance Theory --- p.6 / Chapter 2.1.2 --- Information Content of Dividends --- p.7 / Chapter 2.1.3 --- Cash Flow Signaling --- p.10 / Chapter 2.1.4 --- Agency Cost Theory --- p.13 / Chapter 2.2 --- Relevant Literature on Corporate Governance / Chapter 2.2.1 --- Ownership Structure in Hong Kong --- p.17 / Chapter 2.2.2 --- Ownership Concentration --- p.18 / Chapter 2.2.3 --- Separation of Cash Flow Rights and Control Rights --- p.20 / Chapter 2.3 --- Relevant Literature on Corporate Governance and Dividend Policy / Chapter 2.3.1 --- Corporate Governance and Dividend Payout Levels --- p.22 / Chapter 2.3.2 --- Corporate Governance and Stock Price Reaction to Dividend Changes --- p.24 / Chapter Chapter 3 --- Methodology --- p.27 / Chapter 3.1 --- Stock Price Reaction to Dividend Change Announcements / Chapter 3.1.1 --- Hypothesis Development --- p.28 / Chapter 3.1.2 --- Regression Model --- p.29 / Chapter 3.1.3 --- Interpretations --- p.29 / Chapter 3.2 --- Ownership Structure and Stock Price Reaction to Dividend Changes / Chapter 3.2.1 --- Hypothesis Development --- p.30 / Chapter 3.2.2 --- Regression Models --- p.31 / Chapter 3.2.3 --- Interpretations --- p.33 / Chapter Chapter 4 --- Data Description --- p.35 / Chapter 4.1 --- Sample Criteria --- p.35 / Chapter 4.2 --- Data Sources --- p.37 / Chapter 4.3 --- Variables / Chapter 4.3.1 --- Stock Price Reaction --- p.38 / Chapter 4.3.2 --- Unexpected Dividend Changes --- p.38 / Chapter 4.3.3 --- Ownership Structure --- p.44 / Chapter Chapter 5 --- Descriptive Statistics --- p.47 / Chapter 5.1 --- Summary Statistics / Chapter 5.1.1 --- Cumulative Abnormal Return (CAR) --- p.47 / Chapter 5.1.2 --- Stockholdings (major) --- p.47 / Chapter 5.1.3 --- Ratio of Cash Flow to Control Rights (O/C) --- p.48 / Chapter 5.2 --- Limitations --- p.49 / Chapter Chapter 6 --- Empirical Analysis --- p.50 / Chapter 6.1 --- Regression Results / Chapter 6.1.1 --- Stock Price Reaction to Dividend Change Announcements --- p.50 / Chapter 6.1.2 --- Effects of Ownership Structure on Stock Price Reaction --- p.51 / Chapter 6.1.3 --- Non-Linear Ownership Effects on Stock Price Reaction --- p.53 / Chapter 6.2 --- Sensitivity Tests / Chapter 6.2.1 --- Two-Step Estimation Problem --- p.55 / Chapter 6.2.2 --- Regression Results With Corrected Covariance Matrix --- p.56 / Chapter Chapter 7 --- Discussion and Relation to Prior Literature --- p.58 / Chapter Chapter 8 --- Conclusion --- p.60 / Tables --- p.62 / Appendices / Appendix A1 Interim dividend increase announcements in sampling period 2001 --- p.79 / Appendix A2 Interim dividend decrease announcements in sampling period 2001 --- p.80 / Appendix A3 Interim dividend increase announcements in sampling period 2002 --- p.81 / Appendix A4 Interim dividend decrease announcements in sampling period 2002 --- p.82 / Appendix A5 Final dividend increase announcements in sampling period 2001 --- p.83 / Appendix A6 Final dividend decrease announcements in sampling period 2001 --- p.85 / Appendix A7 Final dividend increase announcements in sampling period 2002 --- p.86 / Appendix A8 Final dividend decrease announcements in sampling period 2002 --- p.87 / Appendix B Definitions of Datastream Datatype --- p.88 / Appendix C Complete dataset --- p.89 / Bibliography --- p.93

abstract: 本文采用2010年1月1日至2017年12月31日在香港主板IPO上市的共574家公司作为研究样本，系统采集包括与发行人、承销商、投资人、发行热度、市场每日交易数据等相关的数据近100项，对超额配售选择权在香港IPO中的实际效用进行实证研究，研究发现：1）超额配售选择的确可以起到提高发行价格，降低IPO抑价率的作用，但是同时也是破发的主要原因。2）由超额配售选择权赋予承销商稳价行为中，市场买入量越大，最大回撤越大，市场下跌风险越大同时超额配售选择权还导致了最大回撤日的推后，增大了稳价结束后的市场风险，而这很有可能是由于承销商追求更高利益造成的。3）没有证据显示，超额配售选择权会降低承销商的佣金比例，但是，超额配售选择权却为承销商带来非常高的额外收益，而这个收益与市场下跌幅度和承销商从市场购买股份的比例直接相关。 其中，本文首次对最大回撤率、最大回撤日与承销商市场买入量之间的关系进行实证研究，揭示了承销商市场买入量与承销商收益正相关，与最大回撤率负相关，与最大回撤日正相关的关系，可能是增加市场下跌风险的因素。这与现有理论中及监管机构的预期中，“超额配售选择权具有向上稳定价格的作用”是有一定偏差的。 根据研究结果，本文首先建议发行人要客观对待超额配售选择权提升发行价格的作用，以免引起破发。其次建议市场投资人要客观认识超额配售选择权的作用，不要由于超额配售选择权的存在给与发行过高的认同价格。再次建议发行人要能够认识到超额配售选择权是承销商零成本获得的一个有固定收益保障的看空期权，是承销商在承销IPO时的收益之一，而股价下跌幅度与承销商的收益正相关。因此要对承销商的稳价行为进行一定管控，同时可以因为超额配售选择权的存在而要求更低的承销佣金比例。最后建议承销商要维护市场公平，爱护自己的声誉，尽可能避免因超额配售选择权的使用对市场造成不应有的干扰。 / Dissertation/Thesis / Doctoral Dissertation Business Administration 2019

The primary objective of this dissertation is to show that corporate governance affects the value relevance of earnings in the presence of earnings management. The role of corporate governance is to reduce the divergence of interests between shareholders and managers. The role of corporate governance is more useful when managers have an incentive to deviate from shareholders’ interests. One example of management’s deviation from shareholders’ interests is the management of earnings through the use of accounting accruals. Corporate governance is likely to reduce the incidence of earnings management. Corporate governance is also likely to improve investors’ perception of the reliability of a firm’s performance, as measured by the earnings, in situations of earnings management. That is, corporate governance will be value relevant when earnings management exists. The results of this research support these propositions.In this thesis, the value relevance of earnings is measured using the earnings response coefficient. Earnings management is measured using the magnitude of abnormal accruals as estimated by the modified Jones (Dechow et al., 1995) model. A review of the corporate governance literature revealed nine attributes that were expected to impact on shareholders’ perception of earnings reliability due to their role in enhancing the integrity of the financial reporting process. The nine attributes represent three categories of corporate governance: 1) organisational monitoring; 2) incentive alignment; and 3) governance structure.Although not all corporate governance attributes suggested in the literature impact on investors’ perception of a firm’s performance, the primary proposition that corporate governance affects this perception when earnings are managed is supported. The primary contribution of the study is finding evidence supporting the moderating effect of earnings management on the relationship between corporate governance and the value relevance of earnings. These results validate Hutchinson and Gul’s (2004) claim that the role of corporate governance attributes in firm performance should be evaluated in concurrence with a firm’s organisational environment. Future research should control for corporate governance and earnings management, as indicators of earnings reliability, when using returns-earnings regressions to address a research question.

Thesis (Ph. D.)--University of Hong Kong, 2007. / Title proper from title frame. Also available in printed format.

Thesis (Ph. D.)--University of Oregon, 2006. / Typescript. Includes vita and abstract. Includes bibliographical references (leaves 104-109). Also available for download via the World Wide Web; free to University of Oregon users.

An analysis of Peter F. Drucker (2001) and Jim Collins' (2005) theory that non-profits can teach businesses in the areas of mission orientation, board productivity and motivating workers. Extensive research was conducted on six Henry R. Kravis Prize in Leadership recipients: Roy L. Prosterman, the founder of the Rural Development Institute, a.k.a Landesa (2006), Fazle H. Abed, founder of Bangladesh Rural Advancement Committee (2007), Forum for African Women Educationalist (2008), Pratham (2010), mother2mothers (2012) and Soraya Salti, regional direction of INJAZ al-Arab (2012). This in-depth examination suggests that Drucker (2001) and Collins' (2005) postulation was accurate and the studied organizations excelled in the three mentioned principles.

The author of this paper seeks to explore what strategies are available for a multinational organization to manage knowledge, and to what extent a non-profit organization (NPO) have applied the same tools for managing knowledge within the organization as a multinational corporation (MNC). Through studying how knowledge flows within a MNC (Nonaka et al., 1995; Polanyi, 1966; Dani, 2006; DeNisi et al., 2003; Szulanski, 1996) and then analyzing the strategies for handling these flows the thesis will have presented a picture of Knowledge Management (KM), the processes for dealing with learning in the organization, which can then be compared to how KM works in a NPO – the World Bank. Through this comparison, this case study shows that all strategies employed by the World Bank are also used in MNCs, giving us the indication that NPOs can adapt KM strategies from MNCs and face many of the same challenges as an MNC does.

Thesis (M.Sc.)--University of Alberta, 2009. / "Fall 2009." At head of title: University of Alberta. Title from pdf file t.p. (viewed on Dec. 4, 2009). "A thesis submitted to the Faculty of Graduate Studies and Researchin partial fulllment of the requirements for the degree of Master of Science Mathematical Finance, Department of Mathematical and Statistical Sciences" Includes bibliographical references.