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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
391

資本管制對銀行恐慌傳染現象之有效性探討 / The Effectiveness of Capital Requirement in Preventing against Bank Panic and Contagion Phenomenon

湯士俊, Tang, Shih Chun Unknown Date (has links)
自1997亞洲金融風暴以來,區域性金融危機的傳染現象(Contagion, or Spillover Effect)便受到經濟學界高度重視,其重要性在2008年雷曼兄弟事件所引發的全球性金融海嘯後更加突顯,而相關的資本管制也陸續出籠,其中最引人注目的當屬2010年通過實行的三代巴賽爾條約(Basel III)。本文奠基於Allen and Gale(2000)所提出的銀行同業拆借市場(Interbank Market)模型,配合資本適足率的導入,試圖驗證在資本管制的設定之下,是否能有效預防銀行恐慌與其蔓延現象之發生。其結果證實提高資本適足率後,藉由銀行本身主動的提高緩衝性準備(Buffer),銀行倒閉的發生機率將顯著降低,換言之,資本適足率管制有效提高了銀行倒閉門檻。同時,本文亦證實資本管制對於銀行同業拆借市場所衍生的傳染現象具有顯著的改善效果。 然而,資本適足率之管制雖具有穩定金融體系的作用,其對存款人消費之緊縮效果卻無可避免會降低其效用。本文在考慮銀行倒閉風險機率後,建立一兩期之社會福利涵數,並利用計算代表性個人(Representative Agent)預期效用極大化條件下的最適資本適足率。在特定參數之下,所得到最適資本適足率為6.375%。我們並且進一步證實,在權益資金報酬率小於長期資產報酬率之下,最適之資本適足率將同步增加,進而使社會福利最大,此符合一般的經濟直覺,同時再次突顯金融體系穩定性對於社會福利的重要性。 / The financial contagion phenomenon, or the spillover effect, has become a crucial issue in recent years after the breakout of the financial crises in 2008. To deal with such problem, some regulations such as the capital requirement, has been introduced as a solution. In our paper, we develop a model based on Allen and Gale (2000) to testify whether the introduction of the capital requirement can successfully reduce the risks of bankruptcy and contagion phenomenon for the interbank system when suffering from the regional liquidity shock. We conclude that after the introduction of capital requirement, the bank will voluntarily hold more buffers to lower the bankruptcy risk and reduce the spillover effect. What’s more, we construct an optimal level of the capital requirement that maximize the social welfare utility and depends on the probability of bankruptcy, the percentage of early withdrawals, the relative cost of capital and other parameters. By simulation, we have the optimal capital requirement at 6.375% in our benchmark case, which is a reasonable one compared with the current Basel Accord. Finally, the paper shows that as the cost of capital is getting lower, bank uses more capital which enhances the social welfare significantly in equilibrium, indicating the great importance of financial stability.
392

Kunskapsöverföring mellan förstudie och analys i systemutvecklingsprocessen / Knowledge Transfer between Feasibility Study and Analysis in System Development Process

Böckert, Patrik, Kjell, Stenåke January 2003 (has links)
<p>Kunskapsöverföring är en nödvändig förutsättning för att säkerställa organisationers existens och framåtskridande. Utgångspunkt för denna uppsats är förstudiens roll i mjukvaruprojekt och dess betydelse för den fortsatta systemutvecklingsprocessen. Fokus liggerpå kunskap som genereras under förstudien, samt hur och i vilken omfattning kunskapen förs vidare till analysfasen i systemutvecklingsprocessen. </p><p>Resultatet visar att förstudien utgör ett viktigt beslutsunderlag och är en nödvändig förutsättning för att gå vidare i systemutvecklingsprocessen. Kunskapsöverföring genom dokumentation och via muntliga föredragningar är otillräcklig, eftersom det finns ett ”filter” som innebär att erfarenhetsbaserad kunskap inte överförs mellan förstudie och analys via dokument eller via muntliga föredragningar. Därför måste personer som deltar i förstudien finnas med senare i utvecklingsprocessen, för att artikulera den ”tysta” erfarenhetsbaserade kunskapen till explicita former. </p><p>Vi drar slutsatserna att kunskapsöverföring via dokument är bra, men räcker inte enligt vår mening. Då det mesta av kunskapen är implicit, det vill säga tyst och/eller ordlös, kommer den inte med i en skriftlig rapport. Kompletteras rapporten med muntliga föredragningar, kommer man ytterligare ett steg närmare en optimal kunskapsöverföring, men det räcker fortfarande inte, då den tysta kunskapen alltjämt utgör ett hinder. Kunskapsöverföring måste ske genom personer, som finns med både i förstudie- och analysfasen, men det måste tillskapas arenor för kunskapsomvandling och kommunikation. Genom en arena för kunskapsomvandling kan den tysta kunskapen göras kommunicerbar. En arena för kommunikation utgör sen den sista byggstenen på väg mot en effektiv kunskapsöverföring. Kunskapsöverföring måste "organiseras". Vi lämnar därför ett förslag till en kunskapsöverföringsmodell. </p> / <p>Knowledge transfer is necessary condition to guarantee the existence and progress of organisations. The starting-point for this paper is the role of the feasibility study in a software project and it’s significance for the subsequent system development process. The focus is on knowledge, which is generated under the feasibility study, and how and in which dimension knowledge is bringing on to the analysis in the system development process. </p><p>The result shows that the feasibility study is an important base of decision and a necessary condition of the future system development process. Knowledge transfer by documentation and by oral presentation of reports is insufficient, because there is a"filter"which means that knowledge of experience not will be transferred between feasibility study and analysis by documentation and by oral presentation. Furthermore must persons who are involved in the feasibility study occur even later in the development process, to articulate the "silence" knowledge of experience into explicit forms. </p><p>We draw the conclusions that knowledge transfer by documents is good, but not enough in our opinion. Because most of the knowledge is implicit, which means silent and/or without words, it will not been in the report. If the report will be completed with oral presentations, you will came further one step near an optimal knowledge transfer, but it’s still not enough, because the silent knowledge still is an obstruction. Knowledge transfer must be done by persons, who’s in both the feasibility study and analysis, but there must be an arena for knowledge transformation and communication. Through an arena for knowledge transformation the silent knowledge can be communicative. An arena for communication is then the last stone of building an effective knowledge transfer. Knowledge transfer must be "organised". We therefore present a proposal to a model of knowledge transfer.</p>
393

China - The new Corporate Income Tax Law and its effect on Transfer Pricing : and in particular the issue of documentation requirements

Hansen, Ida, Lin, Viktoria January 2008 (has links)
China has had a remarkable development since the late 1970s, when the Chinese government started opening up its internal market for the outside world. The Chinese legislation and the legal system itself have been developing rapidly to adapt to the new economic environment, however not without complications. Many uncertainties still remain. Under the old income tax regime, corporations on the Chinese market were taxed under two different systems, one for domestic enterprises and one for foreign invested enterprises and foreign enterprises. With the new Corporate Income Tax Law, these two systems were merged and new concepts introduced. The new income tax law includes important articles that affect the transfer pricing regime in China. The OECD’s transfer pricing regulations have served as a model when China first started to regulate their transfer pricing, there are consequently similarities between the two. Multinational corporations consider the issue of transfer pricing as the most important issue in their international taxation. It is important both from the aspect of being the most effective way to maximize the world profit of the corporation and also in the aspect that an adjustment due to inaccuracies in the corporation’s transfer prices can be expensive. The Chinese transfer pricing system is considered to be young in comparison with other jurisdictions, for example the United States. The Chinese government and its tax authorities have in recent years put a lot of effort in improving the transfer pricing system and its execution. Due to the amount of loss in tax revenue that is believed to be due to transfer pricing measures, the issue is considered to be of outmost importance. The requirement on transfer pricing documentation has been an important issue for MNCs on the Chinese market, especially now when there is an interest levy on adjustments made through an audit. Since the current regulation on documentation is still quite vague, it constitutes an uncertainty for both taxpayers and tax authorities. However, an issuing of a clearer regulation on documentation requirements have long been anticipated but not yet released, although clarifying measures have been taken through the Corporate Income Tax Law and newly issued circulars during 2007.
394

Internationella skillnader i uppfyllelsegraden av IFRS upplysningskrav för goodwill : En jämförelse mellan Sverige och Storbritannien

Thorsell, Evelina, Ninnad, Angelica January 2012 (has links)
Since 2005 the International Accounting Standards Board (IASB) has prescribed a mandatory requirement that all ‘Publicly Consolidated Entities’ abide by the ‘International Financial Reporting Standards’ (IFRS). However, due to a difference in institutional elements, between countries, differences in financial reporting are still possible. This essay aims to identify such differences between Swedish and British companies in their adaptation of the IFRS, specifically differences in; ‘Disclosure Requirements for Goodwill’ specified in ‘IAS 36 p 134’. By performing a content analysis that graded 60 companies’ financial reporting within the Stockholm OMX (Large Cap) and the London Stock Exchange (FTSE100) it has been quantifiably concluded that differences are significant within this analysis.
395

Hur ledtidsstörningar påverkar tillgängligheten på material hos ITAB Shop Concept : En studie för att säkerställa att rätt material finns tillgängligt i rätt tid / How lead time deviations impact on material availability at ITAB Shop Concept : A study how to ensure that the right material is available at the right time

Svensson, Ted, Björman, Therése January 2011 (has links)
ITAB Shop Concept är ett multinationellt företag som utvecklar, tillverkar, säljer samt installerar inredningskoncept och produkter till butikskedjor. En del av denna produktion innefattar tillverkning av kassadiskar, vilka består av komplexa produktstrukturer med hundratals ingående komponenter. På grund av att ITAB upplevde att komponenter saknades vid start av kassadiskmontaget, gavs uppdraget att undersöka orsakerna till detta. Studiens syfte var att kartlägga och analysera orsaker till störningar i ledtider som påverkar tillgängligheten på komponenter till monteringsavdelningen på ITAB Shop Concept Jönköping samt ge rekommendationer. Produktionen av kassadiskar var helt kundorderstyrd och produktionsplanering skedde med hjälp av affärssystemet Jeeves Universal. Metoden som användes var materialbehovsplanering, vilket innebär att planeringen av tillverkning och inköp baseras på kassadiskarnas produktstrukturer, lagersaldon och ledtider. ITAB producerade mellan 50-60 kassadiskar vid högsäsong och mellan 30-40 stycken vid lågsäsong. Vid insamlingen av dataunderlaget undersöktes tillverkningsorder som inte var startklara vid planerat startdatum. Detta gjordes genom daglig mätning, där samtliga tillverkningsorder inspekterades för att utläsa vilka komponenter som hade brist mot lager. Mätningarna visade att egenproducerade komponenter utgjorde drygt hälften av bristerna medan inköpta utgjorde ungefär en femtedel. Resterande brister berodde på så kallade fästelement, vilket är ett samlingsnamn för bland annat skruvar och muttrar. Dessa komponenter är lågvärdesartiklar och med hjälp av en bättre styrningsmetod skulle detta problemet kunna reduceras. Bättre rutiner för snabbinventering skulle behöva införas för att förhindra att minussaldon uppstår. Detta gäller inte enbart fästelement utan för samtliga artiklar i produktionen. För egenproducerade komponenter identifierades i vilka produktionsgrupper en störning i ledtiden först uppstod. För sex av dessa studerades rutinerna mer djupgående för att utreda varför störningar hade uppstått. De problem som identifierades var bland annat bristande rapporteringar och att data i Jeeves inte överensstämde med verkligheten. För två av produktionsgrupperna var den utförda arbetstiden mer än 50 respektive 80 procent längre än planerad. Detta medförde att planerad beläggning inte var tillförlitlig och operatörerna i dessa produktionsgrupper hade svårt att hinna med. För att förbättra detta och få en bättre planering bör regelbunden uppdatering av ställ- och stycktider utföras. Mätningarna visade även på tydliga felaktigheter mellan verkliga lagersaldon och de registrerade i Jeeves. En av anledningarna till detta var bristande rutiner vid kassationer. Då en kassation uppstod rapporterade operatören detta, men det kunde ta lång tid innan det noterades av produktionsplanerna på grund av hur planeringen i affärssystemet var uppbyggt. Eftersom produktionen var direkt kundorderstyrd innebar en kassation att en ny akut tillverkningsorder behövde släppas. Därför är det viktigt att dessa tidigt behandlas för att inte brist ska uppstå. Efter att en akutorder har släppts är det även viktigt att denna prioriteras i produktionen, vilket gjordes genom att produktionsledarna lämnade ut en lista till berörda produktionsgrupper. Detta skulle istället kunna göras med hjälp av Jeeves, eftersom systemet är försett med möjligheten att använda prioriteringskoder. Ett annat problem som identifierades i ett par produktionsgrupper var att körplanen som Jeeves utformat inte följdes. För plockning av material användes istället en lista baserad på när kundorder skulle vara klara. Detta medförde att material plockades samtidigt till monteringen och lackeringen, trots att lackering utförs innan montering. Därför bör truckförarna för kassadiskplocket följa körplanen för att säkerställa att material har plockats fram i rätt tidpunkt till respektive operation. För en av produktionsgrupperna var det svårt att följa körplanen och för att lösa detta behöver bättre förståelse för andras arbetsrutiner utvecklas hos personalen. Genom ett bättre samarbete mellan och inom produktionsgrupperna skulle det vara enklare för vissa produktionsgrupper att genomföra sitt arbete. För inköpta komponenter är det många variabler som påverkar och de problem som datainsamlingen påvisade var att inleveranser ofta blev stående i godsmottagningen. Detta medförde att materialet inte blev tillgängligt i affärssystemet även om det fysiskt fanns tillgängligt i produktionsanläggningen. En annan observation som gjordes var att material ofta beställdes till samma dag som det skulle användas i produktionen. Detta innebar att materialet behövde levereras i rätt tid från leverantörerna för att inte brist skulle uppstå. Eftersom ledtiderna för anskaffning av material var korta ställs större krav, något som inte återspeglades tillbaka på leverantörerna. Utifrån studiens resultat blev det tydligt att ITAB behöver fokusera mer på tillgänglighet av material. Därför kan det vara av intresse att undersöka huruvida det är ett felaktigt fokus i produktionen. Genom ITABs fokusering på leveransprecision och slutdatum uppstod suboptimering och operatörerna hade ingen helhetsuppfattning över tillgänglighet. Därför är det rimligt att fokusering på tillgänglighet och startdatum istället skulle skapa bättre balans i produktionen, vilket skulle kunna leda till ökad produktivitet. / ITAB Shop Concept is a multinational company that develops, manufactures, sells and installs interior design concepts and products to retail chain stores. A part of this production includes manufacturing of checkouts, which have complex product structures with hundreds of components. This thesis came to because ITAB experienced that components were missing at the start of the checkout assembly. The purpose of this thesis was to identify and analyze the causes of lead-time deviations that affect the availability of components to the assembly section at ITAB Shop Concept in Jönköping and give recommendations. The production of checkouts was completely customer-driven and the production planning was done with the ERP-system Jeeves Universal. The method used was material requirements planning, which base the production planning for purchasing and self-production on the product structures of the checkouts and also on inventory levels and lead times. ITAB produced between 50-60 checkouts at peak season and 30-40 in the off-season. To collect data material, every manufacturing order, which wasn’t ready to the planned start, was examined. This was done by making daily measurements, where all manufacturing orders were inspected to deduce which components had a shortage of stock. The measurements showed that self-produced components contributed to slightly more than half of the shortages while purchased components constituted of approximately one-fifth. The remaining shortages were due to screws and brackets. These components are low-cost products and by using a better inventory control method, the risk of shortages for these could be reduced. Better procedures for rapid update of inventory would also be necessary in order to prevent the occurrence of negative inventory balance. This applies not only to screws and brackets but for all components in the production. For self-produced components, production groups could be identified where a disturbance in lead-time first emerged. For six of these, routines where examined in more detail to investigate why the disturbance had occurred. The problems that were identified were for instance lack of reporting and that the data in Jeeves didn’t correspond to the reality. For two of the production groups, the reported work time was more than 50 percent and 80 percent longer than planned. This meant that scheduled availability was unreliable and the operators of these production groups had a hard time keeping up. To improve this and get a better production plan, planned work time and setup time should be regularly updated. The measurements also showed clear errors between actual inventory levels and the levels registered in Jeeves. One reason for this was found to be inadequate procedures for wasting. When wastage occurred, the operator reported this but then it could take a while before the production planner noted this because of how the planning was structured in the ERP-system. Since production was directly customer-driven, a new urgent manufacturing order had to be released. Therefore it’s important that these cases are noted early to avoid that shortages occur. When an urgent manufacturing order has been released, it’s also important that this order is prioritized within the production. At the time of this thesis, this was done by the production managers who gave out a list of urgent orders to the production groups. This could instead be performed with the help of Jeeves, as the system already is equipped with the ability to use priority codes. Another problem that was identified in a few productions groups was that the dispatch list that Jeeves generated wasn’t followed. Instead the operators in charge of transporting components to the assembly section and painting area used a list based on the orders completion date. This meant that the components were delivered at the same time to both these production groups, even though the painting should be done before the assembly takes place. Therefore, truck drivers for checkout components should follow the dispatch list in order to make sure that materials are transported to the correct operation at the correct time. Although, for one of the operations, it would be difficult to follow the dispatch list because many orders are combined. To solve this, personnel need to have better understanding of each other’s work routines. Through better collaborations between and within the productions groups, a better work situation could evolve. For purchase components, there are many variables that influence and one of the problems that were identified was that deliveries often were left standing in the receiving area. This meant that the material wasn’t available in the ERP-system even though the material was available within the production plant. Another observation that was made was that materials often were ordered to the same day it would be used in the production. This meant that the material had to be delivered on time from suppliers in order to avoid that shortages would occur. Given that the lead times for procurement of materials were short, it requires higher demands. These demands were not reflected back to the suppliers, which should be the case. Based on the results of this study, it became clear that ITAB has to focus more on the availability of materials. Therefore, it may be of interest to investigate whether right focus is used or not. While ITAB is focusing on delivery precision and completion dates, the operations were sub-optimized and the operators didn’t have a whole view of the material flow. It is therefore reasonable to believe that focus on availability and start date instead would create a better balance in the material flow, which could lead to increased productivity.
396

Spårvagnstrafik i Västerås? : En förstudie i förutsättningarna för modern spårvagnstrafik

Backlund, Tomas, Tom, Hedlund January 2011 (has links)
Läns- och lokaltrafikens branschorganisation Svensk Kollektivtrafik har som mål att år 2020 ha fördubblat kollektivtrafikresandet från 2006 års siffror. En sådan förändring kommer inte att ske av sig självt utan ett målmedvetet arbete kommer att krävas för att göra kollektivtrafiken mer attraktiv. En alltmer aktuell utveckling av kollektivtrafiken är att flera svenska städer har mer eller mindre långtgångna planer på att införa spårvagnstrafik.     Detta examensarbetes syfte är att utreda förutsättningarna för en spårvägsetablering i Västerås Stad.  Arbetet delas in i litteraturstudie, fallstudie, enkätstudie samt intervjustudie. I den inledande litteraturstudien sammanställs allmän information avseende spårvägens utformning, anläggning, kostnader samt finansieringsmöjligheter. Den knyter även an till tidigare studier inom området för att tillvarata nyttiga erfarenheter. I fallstudien undersöks Västerås förutsättningar för spårvagnstrafik. Förutsättningarna används sedan till att upprätta ett systemförslag avseende ett stomlinjesystem för spårvagn med tillhörande drift- och investeringskostnader. I enkätstudien redogörs Västerås invånares inställning till ett hypotetiskt förslag om införande av spårvagnstrafik som en del av stadens kollektivtrafikssystem. Intervjustudien resulterade i att litteraturstudien kunde kompletteras med en i spårvagnsbranschen aktiv aktörs erfarenheter.   Vidare analyseras samtliga studier var för sig och sedan som en enhet. Slutligen presenteras våra egna slutsatser. / County and local traffic trade association Swedish Public Transport Association's goal by 2010 is to double the travel by public transport from 2006 years figures. Such a change will not happen by itself; a systematic effort will be required to create an attractive public transport. A more recent development of public transport is that several Swedish cities have more or less advanced plans to introduce trams.This thesis work aims to investigate the preconditions of a tram establishment in Västerås. The work is divided into literature study, case study, questionnaire survey and interview. The initial literature study summarizes general information regarding light rail design, construction, costs and financing options. The study also ties in with previous studies in the area to gain useful experience. The case study examines Västerås conditions for trams. The conditions are then used to establish a system proposal of a line system for tram with the associated operational and investment costs. The questionnaire study describes Västerås residents attitudes to a hypothetical proposal for the introduction of light rail transit as part of the city's public transport system.  The interview study resulted in the literature study being supplemented by experiences from an active actor within the tram industry. The thesis analyzes all of the studies individually and then as a unit. Finally, the authors’ own conclusions are presented.
397

Influence of Lot Sizing on Lead Time Error Costs in M.R.P. Systems- a Computer Simulation Study

Sridhar, H K 08 1900 (has links)
Timing of ordering of inventory items is of very great importance in Materials Requirement Planning. Uncertainties in timing can have an adverse effect on the system performance. Most often the lead time variation contribute to timing uncertainties; and their effects are reflected in added costs. Lead time error effects are investigated in this thesis. The study attempts to estimate the effects through some relevant costs, and their variations across the lot sizing rules. The hypotheses for this study are 1) Between any two lot sizing rules, there will be a significant difference in error coats due to combined effect of purchased lead time error and manufacturing lead time errors; 2) Relative cost performance of lot sizing rules in MRP is influenced by the lead time errors; 3) There will be a difference in error cost between lot for l o t rule and least total cost rule even with single source of lead time variation. To carry out the study a MRP programme was developed, in FORTRAN 77 with provisions to include the lot sizing rules while exploding the structure. The lot sizing rules used in the study are Lot for Lot, Silver and Meal heuristics, Wagner-Whitin algorithm, Least total cost, Least unit cost and Part Period balancing. A simulation model is developed using GPSS/PC, to test the hypotheses. An hypothetical production situation with three end items, each with a different product structure is designed. In addition, a master production schedule and a job shop are also structured. Appropriate distributions are assumed for both manufacturing lead times and purchase lead times. These provide the stochastic variables in the simulation experiments. A series of experiments were carried out with the model to investigate into the variations of costs amongst lot sizing rules. Results of the simulation experiments prove that there are costs associated with lead time errors in MRP. These error costs vary significantly with different lot sizing rules. It is also found that the resultant error costs vary significantly even with a single source of lead time variation. Least unit cost rule gives the beat performance having least error costs. Lot for Lot rule has shown the worst performance amongst the lot sizing rules considered. Other interesting results have emerged out of the study.
398

La Struttura Finanziaria Delle Banche / BANKS' LEVERAGE

SAMORI, DOMITILLA FLAVIA 06 April 2011 (has links)
Questa tesi cerca di analizzare le determinanti della struttura finanziaria delle banche. Si ritiene generalmente che il leverage ratio bancario sia determinato indirettamente tramite l’applicazione di requisiti patrimoniali, in particolare requisiti legati al rischio dell’investimento come nello schema di Basilea II. Molti dei recenti contributi empirici criticano questa tesi ed anzi individuano fattori di mercato come principali variabili nella determinazione del leverage. Una collezione dei recenti studi in materia viene raccolta nel primo capitolo. Nel secondo capitolo, si analizza l’impatto dei requisiti patrimoniali sulla struttura finanziaria delle banche all’interno di un modello di signaling. Viene dimostrata l’esistenza di un equilibrio di separazione, in cui i requisiti patrimoniali non sono vincolanti per ogni tipo di banca; si dimostra inoltre che in equilibrio esiste una relazione negativa tra il leverage bancario e la qualità degli attivi: è infatti la banca di minore qualità ad avere un leverage maggiore. Questo risultato, in contrasto con la tradizionale teoria di finanza aziendale, può aiutare a comprendere alcuni episodi della recente crisi finanziaria ed interroga l’efficacia del sistema di Basilea II. Infine, nell’ultimo capitolo, viene condotta un’analisi empirica sulle determinanti del leverage bancario . Sono identificate relazioni stabili e negative tra il leverage delle banche incluse nel campione e la qualità dei loro attivi. Questo risultato si conferma al variare degli strumenti utilizzati per identificare la qualità degli attivi. Questa relazione negativa ci suggerisce che le banche si pongano l’obiettivo di targettizzare un certo livello di leverage per dare un segnale al mercato circa la loro qualità intrinseca: migliore la qualità degli attivi, minore è il loro utilizzo di leva finanziaria. Queste banche rinunciano ad intraprendere investimenti profittevoli pur lanciare un messaggio al mercato e ridurre il costo del finanziamento. / This thesis analyzes banks’ choices over their leverage ratio targeting. It is commonly believed that the banks’ leverage ratio is implicitly driven by the risk-related regulation set by the Basel Committee. Many recent empirical studies on the subject challenge this presumption and suggest that factors other than regulation drive the banks’ choices on leverage. A review of the recent contributions on the subject is presented in the first chapter. In the second chapter we study how capital requirements affect banks' capital structure within a standard signaling model. We prove the existence of a separating equilibrium in which capital requirements are not binding for every type of bank, and we show that in equilibrium there exists a negative relationship between bank's leverage and its intrinsic quality: it is the low type bank that takes on more debt. This result, in contrast with the traditional theory of corporate finance, sheds some light on some of the recent financial crises episodes and hence questions the effectiveness of the current regulatory environment. Finally, in the last chapter, we conduct an empirical analysis on the cross-sectional determinants of banks' leverage. We find a negative and stable relation between banks leverage and the quality of their assets. This result is proved valid under different definition of assets' quality, based on ex-ante and ex-post expectation of the realization of asset quality. The results suggest that banks might target a certain leverage ratio to reveal their true quality to the market: the higher quality banks signal their private information to the market with a lower level of leverage, passing over some profitable opportunities to gain from a lower cost of funding.
399

China - The new Corporate Income Tax Law and its effect on Transfer Pricing : and in particular the issue of documentation requirements

Hansen, Ida, Lin, Viktoria January 2008 (has links)
<p>China has had a remarkable development since the late 1970s, when the Chinese government started opening up its internal market for the outside world. The Chinese legislation and the legal system itself have been developing rapidly to adapt to the new economic environment, however not without complications. Many uncertainties still remain.</p><p>Under the old income tax regime, corporations on the Chinese market were taxed under two different systems, one for domestic enterprises and one for foreign invested enterprises and foreign enterprises. With the new Corporate Income Tax Law, these two systems were merged and new concepts introduced. The new income tax law includes important articles that affect the transfer pricing regime in China. The OECD’s transfer pricing regulations have served as a model when China first started to regulate their transfer pricing, there are consequently similarities between the two.</p><p>Multinational corporations consider the issue of transfer pricing as the most important issue in their international taxation. It is important both from the aspect of being the most effective way to maximize the world profit of the corporation and also in the aspect that an adjustment due to inaccuracies in the corporation’s transfer prices can be expensive. The Chinese transfer pricing system is considered to be young in comparison with other jurisdictions, for example the United States. The Chinese government and its tax authorities have in recent years put a lot of effort in improving the transfer pricing system and its execution. Due to the amount of loss in tax revenue that is believed to be due to transfer pricing measures, the issue is considered to be of outmost importance.</p><p>The requirement on transfer pricing documentation has been an important issue for MNCs on the Chinese market, especially now when there is an interest levy on adjustments made through an audit. Since the current regulation on documentation is still quite vague, it constitutes an uncertainty for both taxpayers and tax authorities. However, an issuing of a clearer regulation on documentation requirements have long been anticipated but not yet released, although clarifying measures have been taken through the Corporate Income Tax Law and newly issued circulars during 2007.</p>
400

Round-trip engineering concept for hierarchical UML models in AUTOSAR-based safety projects

Pathni, Charu 09 November 2015 (has links) (PDF)
Product development process begins at a very abstract level of understanding the requirements. The data needs to be passed on the next phase of development. This happens after every stage for further development and finally a product is made. This thesis deals with the data exchange process of software development process in specific. The problem lies in handling of data in terms of redundancy and versions of the data to be handled. Also, once data passed on to next stage, the ability to exchange it in reveres order is not existent in evident forms. The results found during this thesis discusses the solutions for the problem by getting all the data at same level, in terms of its format. Having the concept ready, provides an opportunity to use this data based on our requirements. In this research, the problem of data consistency, data verification is dealt with. This data is used during the development and data merging from various sources. The concept that is formulated can be expanded to a wide variety of applications with respect to development process. If the process involves exchange of data - scalability and generalization are the main foundation concepts that are contained within the concept.

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