Submitted by Matthew Bray (bray.mr@gmail.com) on 2017-03-04T02:01:12Z No. of bitstreams: 1 FGV Submission - M. Bray.pdf: 788865 bytes, checksum: 9d980792a0b71eccdcf65068d6377e99 (MD5) / Rejected by Josineide da Silva Santos Locatelli (josineide.locatelli@fgv.br), reason: Dear Matthew, It's necessary correct some things in your thesis, please, do it and post again: • Withdraw the numbers of the pages before the introduction, but they need to be considered, example: if your thesis has 9 pages before the introduction, It must to starts with the page 10 there; • All the numbers of the pages must to be on the right superior side of the page; • On the page 4, in “data da aprovação” you need to put your presentation date: 02/02/2017; on 2017-03-06T11:57:14Z (GMT) / Submitted by Matthew Bray (bray.mr@gmail.com) on 2017-03-07T10:35:55Z No. of bitstreams: 1 FGV Submission - M. Bray.pdf: 782291 bytes, checksum: 232ced01ca9486e413cbb2ca2b6338da (MD5) / Approved for entry into archive by Josineide da Silva Santos Locatelli (josineide.locatelli@fgv.br) on 2017-03-07T11:06:52Z (GMT) No. of bitstreams: 1 FGV Submission - M. Bray.pdf: 782291 bytes, checksum: 232ced01ca9486e413cbb2ca2b6338da (MD5) / Made available in DSpace on 2017-03-07T19:01:13Z (GMT). No. of bitstreams: 1 FGV Submission - M. Bray.pdf: 782291 bytes, checksum: 232ced01ca9486e413cbb2ca2b6338da (MD5) Previous issue date: 2017-02-02 / Agency costs as a result of the separation of ownership and control within a firm can be a hurdle to the performance and profitability. It has been suggested that these costs can be reduced by the presence of a single large shareholder monitoring management and their decisions. On the contrary it has also been argued that a large shareholder negatively affects firm performance by deriving personal benefits from the firm and making suboptimal decisions. This research aims to investigate the relationship between the profitability of a firm and the level to which the shares of that firm are concentrated into a single shareholder. A random effects GLS panel regression is used to determine the effect of a large shareholder being present in Spanish and Portuguese firms by studying firms listed on these bourses over the period 2005 – 2014. The results show that a large shareholder has a negative influence in the Portuguese market, and no statistically significant effect in the Spanish market / Os custos de agência que resultam essencialmente da separação de poder e controlo de uma empresa, podem contribuir negativamente para a performance e rentabilidade desta. A literatura existente sugere que estes custos podem ser minimizados pela presença de um único grande accionista tendo em conta que pode monitorizar mais de perto os seus gestores e respectivas acções e decisões. Por outro lado, existem vários argumentos em estudos passados que defendem que um grande accionista pode afectar negativamente a performance de uma empresa, privilegiando a sua utilidade em detrimento de decisões que beneficiem a sociedade que controla. Este estudo tem por isso como objectivo investigar a relação entre a rentabilidade, lucro de uma empresa e proporção de acções que está concentrada num único accionista. Uma regressão de efeitos aleatórios de dados painel GLS é usada então para determinar o efeito da presença de grandes accionistas em empresas portuguesas e espanholas, listadas em bolsa no período 2005- 2014. Os resultados mostram que a presença de grandes accionistas tem um impacto negativo no mercado português, ao passo que não existe qualquer evidência significativa no caso espanhol.

Submitted by Thiago Pereira de Sousa Lepinski (thiago.lepinski@gmail.com) on 2018-01-02T15:30:08Z No. of bitstreams: 1 Dissertação MPA - Versão revisada final.pdf: 996119 bytes, checksum: 90fc29a68b3bd247bd5fd11308c97792 (MD5) / Approved for entry into archive by Mayara Costa de Sousa (mayara.sousa@fgv.br) on 2018-01-02T17:59:56Z (GMT) No. of bitstreams: 1 Dissertação MPA - Versão revisada final.pdf: 996119 bytes, checksum: 90fc29a68b3bd247bd5fd11308c97792 (MD5) / Made available in DSpace on 2018-01-04T19:38:22Z (GMT). No. of bitstreams: 1 Dissertação MPA - Versão revisada final.pdf: 996119 bytes, checksum: 90fc29a68b3bd247bd5fd11308c97792 (MD5) Previous issue date: 2017-12-01 / Com o desenvolvimento da teoria da liderança, uma questão que tem sido largamente estudada é como os gestores podem obter melhor desempenho de suas equipes e quais fatores estão relacionados à pessoa do líder. A teoria do estilo de liderança busca identificar esses elementos e tem proposto o modelo de líder transformacional como um elemento chave para que as organizações tenham melhores resultados. Muitos estudos aplicados têm proposto diferentes soluções e discutido qual estilo de gestão seria mais eficaz para que as organizações obtenham os melhores resultados. Neste trabalho, analisamos a percepção dos empregados de uma grande empresa com cerca de cem mil colaboradores a respeito do processo de adoção de um modelo transformacional de liderança e seu processo de avaliação de estilo de gestão e liderança aplicado aos seus gestores como forma de modificar uma cultura organizacional para torná-la mais produtiva e eficaz. Nosso objetivo foi pesquisar evidências da efetividade do processo de transformação de estilo de liderança pela percepção dos empregados da empresa. O estudo foi feito pela análise do caso concreto vivido por essa empresa por meio de coletas de dados qualitativos com entrevistas. Foram realizadas treze entrevistas, sendo quatro com gerentes gerais de unidades e nove com gerentes de contas e demais liderados. A partir dos dados coletados, foi feita análise visando a identificar os elementos e evidências da efetividade do processo e entender a experiência da empresa, com seus desafios, contradições e resultados, no processo de transformação para ajustar o comportamento de liderança de seus gestores. Ao final, identificamos pontos de atenção do processo, principalmente as divergências e contradições do processo conduzido pela empresa com a sua prática gerencial, e propusemos algumas melhorias práticas, que poderão ser aplicadas pela organização. / With the development of leadership theory, one issue that has been widely studied is how managers can get better performance from their teams and what factors are related to the leader's person. Leadership style theory seeks to identify these elements and has proposed the transformational leader model as a key element for organizations to perform better. Many applied studies have proposed different solutions and discussed which style of management would be the most effective for organizations to get the best results. In this work, we analyze the perception of the employees of a large company with about one hundred thousand employees regarding the process of adopting a transformational model of leadership and its process of evaluation of management style and leadership applied to their managers as a way to modify an organizational culture to make it more productive and effective. Our objective was to investigate evidences of the effectiveness of the transformation process of leadership style by the perception of the employees of the company. The study was done by the analysis of the concrete case lived by this company through qualitative data collections with interviews. Thirteen interviews were carried out, four with general managers of units and nine with managers of accounts and other employees. Based on the collected data, an analysis was made to identify the elements and evidences of the effectiveness of the process and to understand the company's experience, with its challenges, contradictions and results, in the transformation process to adjust the leadership behavior of its managers. In the end, we identified points of attention of the process, mainly the divergences and contradictions of the process conducted by the company with its managerial practice, and we proposed some practical improvements that could be applied by the organization.

Vital societal functions are upheld by public infrastructure. For some time, normative theories describing asset management have disseminated in research and in business. Public infrastructure companies are increasingly required to adhere to management standards under regulatory pressure, however, the research area is in need of more empirical contributions on which challenges companies face when implementing management systems standards in their organization. For asset management systems and the ISO 55000 series in particular, the empirical data is lacking. This thesis addresses the challenges public utility companies face when implementing asset management principles. A qualitative case study was conducted during a five-month period at Sweden's largest water utility company, Stockholm Vatten och Avfall AB (SVOA). Fourteen interviews were conducted and compared with company documents to provide triangulation. The findings suggest that the main challenges a public utility company has to overcome to implement an asset management model are: 1) Lack of strategic and long-term planning responsibility. 2) Unclear division of asset responsibilities. 3) Lack of top management commitment towards asset management systems. 4) No standardized risk management. 5) Lack of information sharing between departments. The implications of this study are twofold: In a practical sense the thesis argues for top management of public infrastructure firms to commit to principles of asset management theory, provide a clear division of asset responsibility, introduce systematic risk management principles and policies, as well as promote cross-divisional exchanges of experiences. Academically, this investigation contributes to the literature by providing a better understanding of the ISO 55000 series, and the implementation process of standards similar to it, in the context of companies managed by the public sector. / Kritiska samhällsfunktioner möjliggörs av offentlig infrastruktur. Sen ett antal år tillbaka finns flertalet normativa teorier publicerade som beskriver hur tillgångshantering (asset management) ska gå till. Under krav från lagstiftning och tillsynsmyndigheter måste offentliga verksamheter i allt högre grad införa standardiserande arbetssätt. Det finns en brist på forskning kring utmaningarna att bygga upp och införa ledningssystem i verksamheten. Särskilt ledningssystem för tillgångshantering som till exempel ISO 55000 saknar empiriska data. Detta examensarbete behandlar de utmaningar offentliga infrastrukturbolag står inför för att implementera tillgångshanteringsprinciper. En kvalitativ fallstudie gjordes över fem månader på Sverige största leverantör av vattentjänster, Stockholm Vatten och Avfall AB (SVOA). Totalt fjorton intervjuer gjordes och jämfördes mot interna företagsdokument för att uppnå triangulering. Resultaten pekar på att de största utmaningarna ett offentligt infrastrukturbolag måste övervinna är: 1) Brist på strategisk och långtidsplanering. 2) Otydlig fördelning av tillgångsansvar. 3) Brist på ledningsengagemang för tillgångshanteringssystem. 4) Avsaknad av standardiserad riskhantering. 5) Brist på informationsutbyte. Konsekvenserna av examensarbetet är tvåfaldig: På ett praktiskt plan argumenterar examensarbetet för att ledningen av offentliga infrastrukturbolag bör förpliktiga sig åt tillgångshanteringsprinciper. De bör även införa en tydlig uppdelning av tillgångsansvar, introducera standardiserade riskhanteringsmodeller och policy, samt bidra till tvärfunktionella erfarenhetsutbyten. På ett akademiskt plan bidrar examensarbetet till att utöka förståelsen för ISO 55000 standarden och implementeringsprocessen för liknande standarder i kontexten av offentligt styrda företag.