During the recession period of 2008/2009, global tourism declined by 8%. This was also evident is South Africa with the domestic travel market shrinking by 8% as well. However, this did not apply to the Kruger National Park (KNP) which experienced a sustained Accommodation Unit Occupancy growth of 1.6% during the same period. Visitors to the KNP thus see it as an attractive holiday destination irrespective of tough economic conditions characterised by less disposable income. To sustain this growth, it is important to be aware of the reasons visitors still visit the KNP during a recession. The aim of this study was to determine the reasons why visitors still travelled to the KNP during the 2008/2009 recession. This can be done by analysing the visitors’ behaviour and the motivational factors (internal feelings of the visitors) and determinants of the demand (income and exchange rates for instance) that influenced visitors’ choice to visit the KNP. To achieve this aim, a survey was conducted at the KNP between 15 and 20 December 2009 (high season). A total of 355 questionnaires were completed, after which a number of analyses were done to determine the effects of the recession on travel behaviour. For the purpose of this study, two articles were written. Article 1 is titled: “Motivations of visitors to the Kruger National Park during the 2008/2009 recession period”. The aim of this article was to determine the motivations of visitors to the KNP during the recession. A factor analysis on the motivations to visit the park was conducted, of which the following factors obtained the highest mean values: Escape, Wildlife experience and Family benefits. Push factors to the KNP were important to such an extent that visitors regarded visiting the park as a primary need or lifestyle. The results furthermore showed that visitors might have adapted their spending behaviour at the park to still afford to visit the park during the recession. This article provides a better understanding of visitors’ feelings towards the KNP, especially amidst recessions which, in turn, will improve niche marketing and a competitive advantage. Article 2 is titled: “Factors that influenced demand to the Kruger National Park during the 2008/2009 economic recession”. The aim of this article was to identify the determinants that influence the demand for visits to the KNP. Due to the homogeneous nature of the park’s market, the results of the stepwise logistic regression analysis revealed a few socio-demographic and behavioural determinants that influenced visitors’ demand to the park. The motives Escape and Souvenirs were the only two behavioural determinants while the provinces Gauteng and Mpumalanga were the only socio-demographic determinants. These two provinces are the two main markets for the KNP. Visitors indicated that visiting the KNP is a great way of escaping their busy metropolitan areas, especially in the Gauteng province. Mpumalanga residents have many tourism attractions in their province thus lowering the chances that they will visit the KNP. The determinant Souvenirs indicates that visitors adapted their spending at the park to still be able to afford visits. It was also found that demand to visit the park was not greatly influenced by the recession, because visitors could adapt their spending at the park. This is the first time the determinants of demand to a national park during a recession period have been conducted. The study indicated that visiting natural areas may have become a primary need or part of a lifestyle, especially during the 2008/2009 recession period. This article gives park management guidelines that will ensure the sustainability of the KNP because this information now allows for well-planned, thorough marketing and management of the park. In the case of KNP, which has a homogeneous market, the number of determinants identified influencing demand for visiting the park is fewer than has been found in other studies done on heterogeneous markets. This study therefore also makes a valuable methodological contribution in relation to analysing demand of homogeneous and heterogeneous markets. / Thesis (M.Com. (Tourism))--North-West University, Potchefstroom Campus, 2011.

During the recession period of 2008/2009, global tourism declined by 8%. This was also evident is South Africa with the domestic travel market shrinking by 8% as well. However, this did not apply to the Kruger National Park (KNP) which experienced a sustained Accommodation Unit Occupancy growth of 1.6% during the same period. Visitors to the KNP thus see it as an attractive holiday destination irrespective of tough economic conditions characterised by less disposable income. To sustain this growth, it is important to be aware of the reasons visitors still visit the KNP during a recession. The aim of this study was to determine the reasons why visitors still travelled to the KNP during the 2008/2009 recession. This can be done by analysing the visitors’ behaviour and the motivational factors (internal feelings of the visitors) and determinants of the demand (income and exchange rates for instance) that influenced visitors’ choice to visit the KNP. To achieve this aim, a survey was conducted at the KNP between 15 and 20 December 2009 (high season). A total of 355 questionnaires were completed, after which a number of analyses were done to determine the effects of the recession on travel behaviour. For the purpose of this study, two articles were written. Article 1 is titled: “Motivations of visitors to the Kruger National Park during the 2008/2009 recession period”. The aim of this article was to determine the motivations of visitors to the KNP during the recession. A factor analysis on the motivations to visit the park was conducted, of which the following factors obtained the highest mean values: Escape, Wildlife experience and Family benefits. Push factors to the KNP were important to such an extent that visitors regarded visiting the park as a primary need or lifestyle. The results furthermore showed that visitors might have adapted their spending behaviour at the park to still afford to visit the park during the recession. This article provides a better understanding of visitors’ feelings towards the KNP, especially amidst recessions which, in turn, will improve niche marketing and a competitive advantage. Article 2 is titled: “Factors that influenced demand to the Kruger National Park during the 2008/2009 economic recession”. The aim of this article was to identify the determinants that influence the demand for visits to the KNP. Due to the homogeneous nature of the park’s market, the results of the stepwise logistic regression analysis revealed a few socio-demographic and behavioural determinants that influenced visitors’ demand to the park. The motives Escape and Souvenirs were the only two behavioural determinants while the provinces Gauteng and Mpumalanga were the only socio-demographic determinants. These two provinces are the two main markets for the KNP. Visitors indicated that visiting the KNP is a great way of escaping their busy metropolitan areas, especially in the Gauteng province. Mpumalanga residents have many tourism attractions in their province thus lowering the chances that they will visit the KNP. The determinant Souvenirs indicates that visitors adapted their spending at the park to still be able to afford visits. It was also found that demand to visit the park was not greatly influenced by the recession, because visitors could adapt their spending at the park. This is the first time the determinants of demand to a national park during a recession period have been conducted. The study indicated that visiting natural areas may have become a primary need or part of a lifestyle, especially during the 2008/2009 recession period. This article gives park management guidelines that will ensure the sustainability of the KNP because this information now allows for well-planned, thorough marketing and management of the park. In the case of KNP, which has a homogeneous market, the number of determinants identified influencing demand for visiting the park is fewer than has been found in other studies done on heterogeneous markets. This study therefore also makes a valuable methodological contribution in relation to analysing demand of homogeneous and heterogeneous markets. / Thesis (M.Com. (Tourism))--North-West University, Potchefstroom Campus, 2011.

Submitted by André Fava Pestana (afpestana@gmail.com) on 2014-12-23T22:09:45Z No. of bitstreams: 1 Tese_AFP_MPFE_VersãoFinal.pdf: 441121 bytes, checksum: d3fd4490be660a716f9368bbf366064e (MD5) / Rejected by Renata de Souza Nascimento (renata.souza@fgv.br), reason: Prezado André, Não deve constar números de página nas páginas de 1 á 8. Peço a gentileza de excluir estes números e postar novamente. Lembrando que o Sumário está correto, seu trabalho se inicia na página 9. À disposição para qualquer esclarecimento. Att. Renata Souza Cursos de Pós-Graduação (55 11) 3799-7764 SRA - Secretaria de Registros Acadêmicos on 2014-12-29T11:26:26Z (GMT) / Submitted by André Fava Pestana (afpestana@gmail.com) on 2014-12-29T13:32:24Z No. of bitstreams: 1 Tese_AFP_MPFE_VersãoFinal.pdf: 442163 bytes, checksum: c1d9e18d4959a2ad10458a4c85047465 (MD5) / Approved for entry into archive by Renata de Souza Nascimento (renata.souza@fgv.br) on 2014-12-29T13:37:54Z (GMT) No. of bitstreams: 1 Tese_AFP_MPFE_VersãoFinal.pdf: 442163 bytes, checksum: c1d9e18d4959a2ad10458a4c85047465 (MD5) / Made available in DSpace on 2015-01-05T11:30:06Z (GMT). No. of bitstreams: 1 Tese_AFP_MPFE_VersãoFinal.pdf: 442163 bytes, checksum: c1d9e18d4959a2ad10458a4c85047465 (MD5) Previous issue date: 2014-12-19 / Banks, as diligent agents, actively monitor their debtors in order to obtain a precise assessment of their financial position. This monitoring stance usually allows them to access non-public information regarding a firm and its business, and acquire hold up power in the credit granting activity. This hold up power is believed to allow banks to charge the firm higher interest rates than otherwise would be justified by the company’s credit risk profile through the economic cycle, mainly during recessions. The presence of hold up power is tested on this paper in businesses more or less dependent on bank credit. By comparing the evolution of bank spreads paid by Brazilian public companies with and without access to the corporate bond market and through the economic cycle comprising the 2009 crisis, some insight is gained on the impact of an economic downturn and of holding corporate bonds in reducing the bank’s hold up power and hence the spreads paid by the company. Data from 50 firms for the years 2007 to 2013 were organized in a panel and modeled using the Estimated Generalized Least Squares (EGLS) technique, as an alternative to the classic Least Squares (LS) technique. The dummies, i) access to corporate bond credit, ii) economic recession and iii) interaction of the 2 previous variables were created and tested after controlling for firm specific factors such as credit restriction, firm size, leverage, etc and statistical evidence was found supporting the intuition that having access to the bond market can reduce the bank spreads during recessions. / A concessão de crédito bancário demanda esforço do agente credor que se dedica de forma ativa na obtenção de informações relativas à firma, até então não disponíveis ao público. Dado o hold up power do banco detentor de informações não públicas, este deveria poder cobrar spreads mais altos do que seria justificado unicamente pelo risco de crédito do tomador ao longo dos ciclos econômicos, sendo tal dinâmica mais acentuada em cenários de crise. Testa-se aqui esta hipótese e para isso são comparadas as variações do spread bancário médio da dívida de empresas brasileiras com diferentes composições de endividamento, levando-se em conta sua dependência do crédito bancário. Foram criadas: i) uma variável dummy identificando o acesso ao crédito direto para que se pudesse avaliar o seu efeito nos spreads; ii) outra dummy identificando cenários de recessão que permite avaliar o impacto do ciclo econômico nos spreads e iii) dummy interação que viabilizou o estudo do efeito combinado das duas variáveis anteriores. Fatores de risco individuais da firma, tais como tamanho, nível de alavancagem e sua natureza em termos de restrição a crédito foram controlados na análise. Os dados foram organizados em painel com os quais foi montada regressão linear valendo-se da técnica Estimated Generalized Least Squares (EGLS), alternativa ao Least Squares (LS) clássico. Encontrou-se evidência estatística de que em cenários de recessão econômica o acesso ao mercado direto de crédito traz efeito benéfico sobre os spreads bancários pagos pelas firmas.

Submitted by Felipe Dexheimer (felipe.dex@gmail.com) on 2017-08-30T17:01:27Z No. of bitstreams: 1 DissertacaoEnvio.pdf: 1900582 bytes, checksum: 347a4791d6eeac1e6b4919e40e275ffa (MD5) / Approved for entry into archive by Joana Martorini (joana.martorini@fgv.br) on 2017-08-30T19:13:58Z (GMT) No. of bitstreams: 1 DissertacaoEnvio.pdf: 1900582 bytes, checksum: 347a4791d6eeac1e6b4919e40e275ffa (MD5) / Made available in DSpace on 2017-08-31T12:32:24Z (GMT). No. of bitstreams: 1 DissertacaoEnvio.pdf: 1900582 bytes, checksum: 347a4791d6eeac1e6b4919e40e275ffa (MD5) Previous issue date: 2017-08-11 / The objective of this paper is to seek insights into the Great Recession, which started after the Financial Shock of 2008 and still casts a shadow on the growth of Developed Economies. Common features such as near zero interest rates, disappointing growth and low inflation - with a constant fear of deflation - have been observed in most of these countries in the last few years. The Secular Stagnation Hypothesis argues that the causes are a depressed demand, both for investments and finished products and services, and that to avoid a deflation trap governments should step in, helping economies reach their potential again. The Credit Supercycle Hypothesis puts the deleveraging cycle on focus: the large credit expansion that happened prior to the shock must be dealt with, through inflation, growth, restructuring or a combination of those, before economic agents go back to their normal behavior. The analysis of their main differences leads to the investigation of the credit cycle and its impact on productivity growth. Two approaches are used, with the time frame ranging from 1995 to 2014: a Vector Autoregressive (VAR) analysis focused on twenty developed countries and a Real Business Cycle analysis of the American Economy, both replicated from previous studies with similar focus, but different context. The results show the importance of credit formation to the growth of productivity, both directly and through fixed capital investment, and also that the low productivity growth on recent years may be not a symptom of slow technological improvement, but instead caused by the lack of credit access, notwithstanding the low interest rates and credit spreads. Policy makers overlooking this evidence might be surprised by an unforeseen rise in productivity growth after the financial system returns to a more normal behavior. / O objetivo deste artigo é buscar informações sobre a Grande Recessão, que começou após o Choque Financeiro de 2008 e ainda gera uma sombra sobre o crescimento das Economias Desenvolvidas. Características comuns, como taxas de juros próximas de zero, decepções de crescimento e baixa inflação - com um medo constante da deflação - foram observados na maioria desses países nos últimos anos. A Hipótese da Estagnação Secular argumenta que as causas é uma demanda deprimida, tanto para investimentos quanto para produtos e serviços finais, e para evitar uma armadilha de deflação, os governos devem intervir, ajudando as economias a alcançar seu potencial novamente. A Hipótese do Superciclo de Crédito coloca o processo de desalavancagem em foco: a grande expansão de crédito que aconteceu antes do choque deve ser tratada, por meio da inflação, crescimento, reestruturação ou uma combinação desses, antes que os agentes econômicos voltem ao seu comportamento normal. A análise das principais diferenças dessas hipóteses leva à investigação acerca do ciclo do crédito e seu impacto no crescimento da produtividade. São utilizadas duas abordagens, com o intervalo de tempo entre 1995 e 2014: um modelo Vetorial Autoregressivo (VAR) focado em vinte países desenvolvidos e uma análise de Ciclo Real de Negócios (Real Business Cycle) da economia americana, ambas replicadas de estudos anteriores que tinham foco semelhante, mas contexto diferente. Os resultados mostram a importância da formação de crédito para o crescimento da produtividade, tanto diretamente como através do investimento em capital fixo, e também que o baixo crescimento da produtividade nos últimos anos pode não ser um sintoma de melhoria tecnológica lenta, mas sim causado pela falta de acesso a crédito, não obstante as baixas taxas de juros e spreads de crédito. Ao negligenciar essas evidências formadores de políticas econômicas podem se surpreender com um aumento imprevisto do crescimento da produtividade após o sistema financeiro retornar a um comportamento mais normal.

The aim of this thesis was to evaluate the available information of the selected retail chain operating in the Czech market, analyze partial financial indicators and implement comparison with the closest competitors.

Submitted by Yuri Lazaro de Oliveira Cunha (yuri.lazaro@hotmail.com) on 2018-06-19T18:27:43Z No. of bitstreams: 1 20180619_Yuri_Oliveira-Cunha_Dissertation_v31.pdf: 3241685 bytes, checksum: 071afec440b24f2144c8a3821f5a8208 (MD5) / Approved for entry into archive by Debora Nunes Ferreira (debora.nunes@fgv.br) on 2018-06-25T13:01:13Z (GMT) No. of bitstreams: 1 20180619_Yuri_Oliveira-Cunha_Dissertation_v31.pdf: 3241685 bytes, checksum: 071afec440b24f2144c8a3821f5a8208 (MD5) / Approved for entry into archive by Suzane Guimarães (suzane.guimaraes@fgv.br) on 2018-06-25T15:57:38Z (GMT) No. of bitstreams: 1 20180619_Yuri_Oliveira-Cunha_Dissertation_v31.pdf: 3241685 bytes, checksum: 071afec440b24f2144c8a3821f5a8208 (MD5) / Made available in DSpace on 2018-06-25T15:57:38Z (GMT). No. of bitstreams: 1 20180619_Yuri_Oliveira-Cunha_Dissertation_v31.pdf: 3241685 bytes, checksum: 071afec440b24f2144c8a3821f5a8208 (MD5) Previous issue date: 2018-06-29 / O momento de grande instabilidade político-econômica do Brasil desde o seu agravamento em 2015 até o primeiro semestre de 2018 é analisado por esta pesquisa por meio das suas implicações sobre o modelo de negócio de uma Escola de Negócios. Por meio da caracterização do modelo de negócio anterior e posterior à crise político-econômica com implicações sobre a pós-graduação lato-senso, procura-se identificar quais influencias e quais adequações foram estrategicamente significativas para essa instituição. A luz das abordagens teóricas de Estratégia e de Modelo de Negócios identifica-se, a necessidade de estudos que investiguem os antecedentes e suas implicações no modelo de negócio. Por meio da abordagem qualitativa de estudo de caso, com o emprego de dados primários e secundários, utilizando observação direta não participante, análise documental e entrevistas semiestruturadas, foram investigadas e identificadas as principais influências oriundas da crise econômica no modelo de negócio. Os dados sugerem que a crise econômica modificou o modelo de negócio da escola de negócios pesquisada. Wirtz et al. (2016) defendem que a adequação do modelo de negócio ocorre somente no longo prazo, entretanto, este trabalho identificou que a adequação do modelo de negócio pode ocorrer no curto prazo. Adicionalmente, é evidenciado empiricamente a resposta de uma escola de negócio durante o período de crise. / The moment of great political and economic instability in Brazil since its worsening in 2015 until the first semester of 2018 is analyzed by this research through its implications on the business model of a business school. Through the characterization of the previous business model and subsequent to the political-economic crisis with implications on the Lato-Sensu post-graduation, it is sought to identify which influences and which changes were strategically significant for this Institution. The theoretical approaches of strategy and business model identifies the gap for future studies that investigate the background and antecedents of changes in the business model. Through the qualitative approach of case study, with the use of primary and secondary data, using direct non-participant observation, documentary analysis and semi-structured interviews, the main influences were investigated and identified from the economic crisis in the business model. The data suggests that the economic crisis modified the business model of the business school surveyed. These research findings were contrary to Wirtz et al. (2016) showing change of the business model may occur in the short term. Additionally, this research contribution shows empirically evidenced of the response of a business school during the crisis period.

Problem: In this study, tour operators' perceptions of market changes linked to the pandemic have been investigated. Based on their perceptions, the most effective competition strategies have been described both before and after the pandemic. Aim: The study's intention was to gain an understanding of how Swedish tour operators experience changes in the tourism industry linked to Covid-19 and what competition strategies the companies use before and plan to use after the pandemic. Method: The study uses a qualitative research strategy with an inductive approach and grounded theory as a method. The collected data material has been analyzed mainly by in-depth interviews which were then transcribed and coded from Glaser’s point of view, containing open, selective, and theoretical phase. This resulted in two core categories that expressed the study's main problems: competition strategies and the tourism industry and competition in Sweden. Conclusion: The study results have shown that the most effective competition strategies according to Swedish tour operators are customer orientation, vertical integration, and digitalization. Regarding perceptions of market changes, respondents believe that there have been no major changes in the tour operator market, but the pandemic has affected the tourism industry and competition in general, where market demand and competition between other industries have changed. In addition, the competition strategies used by companies before the pandemic were effective and provide competitive advantages, which results in that these strategies will be largely unchanged after the pandemic. / Problemställning: I denna studie har researrangörernas uppfattningar om marknadsförändringar kopplade till pandemin undersökts. Baserat på deras uppfattningar har de mest effektiva konkurrensstrategierna beskrivits både före och efter pandemin. Syfte: Studiens avsikt var att få förståelse över hur svenska researrangörer upplever förändringar i turistbranschen kopplade till Covid-19 samt vilka konkurrensstrategier företagen använder sig av innan och planerar att använda efter pandemin. Metod: I studien används en kvalitativ forskningsstrategi med induktiv ansats samt grundad teori som metod. Det insamlade datamaterial har analyserats främst med hjälp av djupintervjuer som sedan transkriberades och kodades utifrån Glasers syn, innehållande den öppna, selektiva och teoretiska fasen. Detta resulterade i två kärnkategorier som uttryckte studiens huvudproblematiken: konkurrensstrategier och turistbranschen och konkurrensen i Sverige. Slutsats: Studien resultat har visat att de mest effektiva konkurrensstrategierna enligt svenska researrangörer är kundorientering, vertikal integration och digitalisering. När det gäller uppfattningar om marknadsförändringar anser respondenterna att det inte har skett några större förändringar på researrangörsmarknaden, men pandemin har påverkat turistindustrin och konkurrensen i allmänhet, där marknadens efterfrågan och konkurrens mellan andra industrier har förändrats. Dessutom ansågs de konkurrensstrategier som företag använde före pandemin vara effektiva och ge konkurrensfördelar, vilket resulterar i att dessa strategier kommer i stort sett att vara oförändrade efter pandemin.

Ape Boards is my own newly formed label, which manufactures snowboards and kiteboards. For this thing I have proposed a substantial logotype, which has a function as a unifying element across the whole brand and designs boards. Website (www.apeboards.com). A first collection of snowboards and kiteboards from which I had made 7 pieces for a thesis. Designs do not 'mass' lust, because the objective is not a big production or promotion, but based on what I liked. From the minimalism through the color geometry to the gorillas, according to which the brand was named.

Résumé This thesis focuses on the implementation of the active employment policy in the Czech Republic and the Federal Republic of Germany and in particular its use of a time when the labour market is negatively affected by the effects of the economic recession. Financial support provided to employers to create or maintain jobs proved to be crucial, confirming the model used in the Federal Republic of Germany. The analysis of tre nds in the labour market shows increasing importance of implementing active employment policy, which both lead to job creation, but the activation of unemployed persons. The findings of this thesis stems can be applied throughout the Czech Republic. Some m easures to increase employment can be implemented without significant interference, in a change in methodology, but some must be implemented on the basis of political acceptability.

Indiana University-Purdue University Indianapolis (IUPUI) / This study is an interpretative phenomenological analysis that explored the meanings homeowners associated with their lived experience of foreclosure. In the wake of the 2006 housing crash and 2008 Great Recession, questions have been posed about the continued efficacy of homeownership as an asset-based strategy. In addition, the conversation has been dominated by traditional economic and business interests. Discussions about housing policy and foreclosure response have marginalized the voice of vulnerable populations. The literature on housing policy reflects a positivist perspective that privileges analysis of unit production, economic costs and benefits. Secondary attention is given to exploring housing and foreclosure from a critical and constructivist standpoint. Consequently, this study intentionally engaged people who have experienced foreclosure. Depth and meaning were uncovered through interpretative phenomenological analysis. A purposive sample of five homeowners who experienced foreclosure was identified. The five homeowners participated in semi-structured interview. Transcribed interviews were analyzed using the six-step process articulated for interpretive phenomenological analysis (IPA). IPA combines three philosophical foundations—phenomenology, hermeneutics, and idiography—to approach qualitative and experiential research. The findings of this study discovered that foreclosure represents disconnection for the participants. Specifically, due to experiencing foreclosure, participants felt separated from their self-identity, from housing finance literacy, from their relationship with their mortgage lender and servicers, from the benefits of homeownership and from self-sufficiency due to their social service-based, helping-based, and/or low-wage employment. Study findings both affirm and challenge relevant theoretical frameworks. In addition, this research underscores the need for social work education to address financial literacy. Further, social work practitioners should be prepared to either provide or refer consumers to home-buyer education and training. Social workers should also challenge exploitative consumer practices and offer empowering alternatives in their place. Lastly, this research offers strategies and practices to strengthen housing policy and foreclosure response for the benefit of consumers.