Insurance contracts will be reported at fair values on insurers’ balance sheets from 2010. In this thesis, we will review the conceptual and theoretical backbone of the insurance fair valuation project while providing a summary of the key features of the fair valuation project. Then, we will conduct a case study aimed at finding, under the fair valuation regime, the best asset allocation strategy for a particular business unit that carries a hypothetical annuity portfolio using a single modelling framework for valuation, risk calculation and business appraisal.

Thesis (MScFor)--Stellenbosch University, 2012. / ENGLISH ABSTRACT: The aim of this project was to determine the site effect- especially water availability - and the effect of cambial age on selected anatomical properties of Pinus radiata, in order to be able to predict possible changes in wood quality due to an expected change in climate. A second objective was to correlate ring and fibre properties, in order to determine, if ring properties could be used as a proxy to describe wood quality. The samples consisted of 12 trees, sampled at an age of 1 to 16 from six selected sites in the Western Cape, which ranged from water stressed to moist. Apart from the water availability all other external factors, such as elevation etc. were kept as equal as possible. Anatomical wood properties such as fibre length and fibre diameter, lumen diameter, cell wall thickness, ring width and earlywood/latewood ratio were determined and their change with cambial age and water availability was evaluated. Fibre length, fibre diameter and cell wall thickness increased with increasing cambial age, and ring width and earlywood/latewood ratio decreased with increasing cambial age. No significant correlations were found between any of the ring or fibre properties and water availability. Most of the fibre properties were significantly correlated with ring width and earlywood/latewood ratio when age was not considered as covariate, but showed no correlation when the age effect was excluded. / AFRIKAANSE OPSOMMING: Die doel van die projek was om die perseel se effek te bepaal, veral water beskikbaarheid, ten opsigte van die effek van kambium ouderdom en geselekteerde anatomiese eienskappe van Pinus radiata, om sodoende die moontike verandering in hout kwaliteit as gevolg van verwagte klimaatsverandering te voorspel. ‘n Tweede doelwit was om die ring en vesel eienskappe te korreleer en ook te bepaal of ring eienskappe gebruik kan word om hout kwaliteit te beskryf. Die monsters het bestaan uit bome van ses geselekteerde persele in die Wes Kaap en het gevarieer van ‘n water tekort na klam. Behalwe vir water beskikbaarheid is al die ander eksterne faktore, soos hoogte ens., konstant gehou waar moontlik. Anatomiese hout eienskappe soos vesel lengte en deursnee, sel deursnee, selwand dikte, ring wydte en E/L verhouding was bepaal asook die verandering met kambium ouderdom en water beskikbaarheid. Vesel lengte , vesel deursnee en selwand dikte het toegeneem met toename in kambium ouderdom, en ring wydte en E/L verhouding het afgeneem met toename in kambium ouderdom. Toename in water beskikbaarheid het gelei to afname in vesel lengte en selwand dikte, waar vesel deursnee, sel deursnee, E/L verhouding en ring wydte toegeneem het. Meeste van die vesel eienskappe het betekenisvol gekorrelleer met ring wydte en E/L verhouding wanneer ouderdom nie as ko-variant gebruik is nie.

Dans cette thèse sur travaux, l’auteur part de deux travaux précédents sur la rentabilité de la fidélisation et la détermination du potentiel client pour faire un constat : une partie de la rentabilité de la fidélisation et du potentiel pour une marque est basée sur la part captable du chiffre d’affaire fait à la concurrence ; le taux de captation.Dans ce nouveau travail il s’agit de montrer que le taux de captation est basé sur l’élasticité du taux de nourriture. A partir d’une analyse de la littérature et de plusieurs modélisations sur des données de panel scannérisées, l’auteur démontre, sur plusieurs marchés, que l’élasticité du taux de nourriture est contrainte et prévisible.C’est donc en tenant compte de cet écart limité qu’une marque peut estimer le taux de captation et donc la rentabilité de la fidélisation ainsi que le potentiel client. / In this thesis based on works the author goes from two previous studies on the profitability of loyalty and customer potential determination to make a statement : part of the profitability of loyalty and of the potential for a brand is based on the reachable share of turnover done by the competition ; the catch rate.In this new work it is shown that the catch rate is based on the elasticity of the share of category requirement. From a review of the literature and several modeling on scanning panel data the author demonstrates on several markets that elasticity of the share of category requirement is limited and predictable.Then it’s in taking into account this small difference that a brand can estimate the “catchable” rate and therefore the profitability of loyalty and potential of a customer.

Submitted by Bruno Araujo Ramalho (brunrama@hotmail.com) on 2017-03-14T18:02:34Z No. of bitstreams: 1 Dissertação - BRUNO ARAUJO RAMALHO - (versão final).pdf: 2077332 bytes, checksum: 0dd8154f4be3890a0c30271468fdb13f (MD5) / Approved for entry into archive by Publicação Direito Rio (publicacao.direitorio@fgv.br) on 2017-03-15T18:39:56Z (GMT) No. of bitstreams: 1 Dissertação - BRUNO ARAUJO RAMALHO - (versão final).pdf: 2077332 bytes, checksum: 0dd8154f4be3890a0c30271468fdb13f (MD5) / Made available in DSpace on 2017-03-23T12:17:19Z (GMT). No. of bitstreams: 1 Dissertação - BRUNO ARAUJO RAMALHO - (versão final).pdf: 2077332 bytes, checksum: 0dd8154f4be3890a0c30271468fdb13f (MD5) Previous issue date: 2017-02-07 / Procedural requirements related to decision making and justification of regulatory choices may have limited application under uncertainty, informational limitation and other obstacles that lead the regulator to adopt strategies to tailor decision making to reality. Based on this hypothesis, and considering the uncertainties and issues of high technical complexity related to the 'list of health care procedures and events in health care', the objective of the research was to carry out an exploratory analysis intended to identify limitations, obstacles and observable strategies in the elaboration and justification of these norms. For this purpose, it was adopt a methodology of qualitative analysis based on documentary research, which included different documents available through the National Regulatory Agency for Private Health Insurance and Plans (ANS) website in public consultations, in the Technical Group for reviewing the list of procedures and in the Committee on Regulation of Health Care (COSAÚDE). As a result, it was verified the hypothesis mentioned above, since the dynamics of the choice presents restrictions that lead the regulator to adopt different strategies to deal with. The obstacles related to 'decision-making' dimension arise from the complexity and uncertainties related to the medical evidences, informational limitations and from interferences of the Legislative Branch and the Judiciary. Regarding the giving reasons requirement, although it is possible to see a greater density of justification starting in 2013, the reasons and replies presented in a synthesized format often do not suffice to clarify all the issues that support complex choices. Among the proposals of the study, the regulator should to provide a more detailed record about the valuation and the operationalization of its methodology criteria. / Exigências procedimentais relacionadas ao processo decisório e à justificação de escolhas regulatórias podem ter sua aplicação limitada em cenários de incerteza, limitação informacional e demais obstáculos que levam o regulador a adotar estratégias para adequar a tomada de decisão aos recursos disponíveis. Partindo-se desta hipótese, a pesquisa teve por objetivo a realização de uma análise exploratória com vistas a identificar limitações, obstáculos e estratégias observáveis na elaboração e justificação do rol de procedimentos e eventos em saúde – eis que a elaboração do 'rol' é permeada por incertezas e por questões de alta complexidade técnica. Para tanto, adotou-se a metodologia de análise qualitativa baseada em pesquisa documental, que englobou diferentes anexos disponibilizados a partir do sítio eletrônico da Agência Nacional de Saúde Suplementar (ANS) em consultas públicas, no Grupo Técnico de revisão do rol de procedimentos e no Comitê Permanente de Regulação da Atenção à Saúde (COSAÚDE). Ao final, foi possível evidenciar importantes elementos que moldam ou restringem a tomada de decisão e a sua respectiva justificação. No âmbito dos resultados, os obstáculos relacionados à dimensão 'processo decisório' decorrem de diferentes fontes de incerteza, do volume (e complexidade) das informações e de interferências promovidas pelo Poder Legislativo e Judiciário – sendo observáveis diferentes providências do regulador para cada caso. No que tange ao dever de motivação, embora se percebam melhorias a partir de 2013, a apresentação de justificativas e réplicas segue um formato mais compactado e não contempla algumas questões metodológicas que servem como base para premissas elencadas pelo regulador. Dentre outras propostas do estudo, sugeriu-se que a agência disponibilize o amplo acesso a documentos ou relatórios que registrem, de forma pormenorizada, a operacionalização dos quesitos que integram a metodologia de decisão.

This dissertation is a critical analysis of the provisions of sec 64(l)(b) and (c), 66(2)(b) and 77(l)(b) and (d) of the Labour Relations Act 66 of 1995 which prescribe notice of industrial action as a requirement of protected industrial action in South Africa. It traces the historical background of the requirement. It also addresses issues such as the purpose(s) of the notices, their scope of application, meaning, implications, who must give notice, to whom must notice be given, timing, computation, their duration, the consequences of failure to comply with them and various potential difficulties in the practical application of the notice requirement as well as the unintended consequences flowing from the provisions. Recommendations are made for the amendment of the Act in certain respects. The dissertation concludes that there is no justification for the inclusion in the Act of this requirement. The law is stated as at 30 September 2005. / Jurisprudence / LL.M.

Text in Afrikaans / Artikel 35(5) van die Grondwet 108 van 1996 handel oor die uitsluiting van ongrondwetlike getuienis en bepaal dat sodanige getuienis uitgesluit moet word indien toelating daarvan sal lei tot 'n onbillike verhoor of tot nadeel sal strek vir die regspleging. Uit die bewoording van die artikel blyk dit dat die howe geen diskresie het ten opsigte van die toelaatbaarheidsvraag nie en 'n streng uitsluitingbenadering moet volg. Die doel van hierdie verha• ndeling is om ondersoek in te stel na die mate van diskresie .en die wyse ·waarop diskresie toepas word in hierdie besluitnemingsproses. Twee benaderings is deur die howe gevolg, naamlik 'n benadering waar 'n wye diskresie uitgeoefen word en 'n benadering waar 'n beperkte diskresie uitgeoefen word, dus 'n gekwalifiseerde uitsluitingsbenadering. Die skrywer doen aan die hand dat beide gronde vir uitsluiting van belang is en dat die howe verkeie faktore moet oorweeg ten einde 'n beslissing te vel oor die insluiting of uitsluiting van ongrondwetlike getuienis. 'n Balans moet dus gehandhaaf word tussen die belang van die beskuldigde op 'n billike verhoor en die belang van die gemeenskap daarin dat regspleging nie benadeel moet word nie en dat reg en geregtigheid moet geskied / Section 35(3) of the Constitution Act 108 of 1996 deals with the exclusion of unconstitutionally obtained evidence and stipulates that such evidence must be excluded if the admission would render the trial unfair or be detrimental to the administration of justice. From the wording of the section it seems that the courts have no jurisdiction in regard to the admissibility question and that a strict exclusionary approach must be followed. The purpose of this dissertation is to investigate the amount of discretion that the Courts have, and the manner in which this discretion is applied in the process of decision making. Two approaches were followed by the courts namely a wide discretionary approach and an approach where a strict discretion was applied. It is submitted that botR grounds for exclusion are of importance and that the courts must consider a variety of factors in deciding the question on the inclusion or exclusion of unconstitutionally obtained evidence. A balance must be struck between the interest of the accused in a fair trial and the interest of the community that the administration of justice must not be prejudiced and that justice must prevail. / Criminal and Procedural Law / LL.M. (Law)

The purpose of the Restitution of Land Rights Act 22 of 1994 is to provide for the restitution of rights in land to persons or communities dispossessed of such rights after 19 June 1913 as a result of past racially discriminatory laws or practices. The restitution of a right in land can include the restoration of a right in land. The aim of this dissertation is to investigate the requirement of feasibility in restoring land rights and in particular the role of feasibility studies and the courts’ interpretation of the feasibility requirement in restoring such rights. The methodology used includes a review of literature, legislation and policies on land restitution and an analysis of case law. The outcome of the research indicates that while actual restoration ought to take preference in all instances, it may only be granted once all the relevant circumstances and factors have been considered. In certain circumstances it may not be feasible to restore land rights. / Private Law / LL. M. (Property Law)

[pt] Uma importante questão que se coloca para entidades abertas de previdência complementar e sociedades seguradoras que operam previdência complementar é a definição de uma gestão dos ativos e passivos (do inglês ALM – Asset and Liability Management). Tal questão se torna mais relevante em um cenário de alta competitividade, margens operacionais decrescentes, garantias mínimas de rentabilidade para um passivo estocástico de longo prazo e um período de queda da rentabilidade dos instrumentos financeiros, sendo estes muitas vezes de difícil precificação e pouco previsíveis num mercado volátil como o brasileiro. Somada a estas dificuldades, as companhias deste mercado estão sujeitas a uma regulação baseada em riscos, oriunda de práticas internacionais, adotada pelo órgão superior, Susep, que impõe restrições regulamentares para a manutenção da solvência das companhias, o que eleva a dificuldade da definição de um modelo. Diante deste cenário, esta dissertação apresenta uma proposta de ALM baseada em um modelo de programação estocástica multiestágio que tem como objetivo definir dinamicamente a alocação ótima dos ativos, incluindo títulos com pagamentos de cupons, e mensurar o risco de insolvência da companhia para o horizonte de planejamento. / [en] An important issue of open pension funds and insurance companies that operate supplementary pension is the definition of an asset and liability management (ALM) framework. Such a question becomes more relevant in a scenario of high competition, declining operating margins, minimum guaranteed returns to a stochastic long-term liability and a period of falling returns on financial instruments, these being often difficult to pricing and predictable in a volatile market such as Brazil. Added to these issues, those companies are subject to a risk-based regulation, derived from international practices adopted by the national insurance regulator, Susep, which imposes constraints to maintain solvency of companies and therefore increases the complexity of an ALM framework. Due this condition, this dissertation presents a proposition of ALM based on a multistage stochastic programming model, which aims to define a dynamic optimal asset allocation, including bonds with coupons payment, and measure the company s insolvency risk for the planning horizon.

The dissertation describes the quality management- quality management systems, improving the effectiveness of a quality management system, to enhance customer satisfaction.

Made available in DSpace on 2017-07-10T18:13:25Z (GMT). No. of bitstreams: 1 Sidnei Klein.pdf: 674707 bytes, checksum: 12d531ad9dbec523abd994dd964a51c8 (MD5) Previous issue date: 2011-02-18 / Itaipu Binacional / The present study aimed evaluate the performance of pacu (Piaractus mesopotamicus) reared in cages in the Itaipu Reservoir, fed diets with different protein levels. The experiment was conducted at the Centre for Development of Technology for fish farming in cages, located along the Biological Refuge of Santa Helena - PR, for a period of 74 days. We used 2.000 fish with average weight of 150,5 ± 2,1 g distributed in a completely randomized design with five treatments and four replicates in 20 cages, with 5,0 m3 of usable volume, and the experimental unit consists of a tank with 100 fish. The treatments consisted of five extruded feeds with different crude protein levels (18,5; 20,7; 23,7; 25,6; and 28,3%). The feeding was performed three times daily until satiation of the animals. After the experiment were measured the parameters of growth performance, hematology, carcass yield and fillet chemical composition. The Average final weight, weight gain and daily weight gain was statistically different (P<0,05), showing a quadratic effect. We used linear effect on feed conversion. After the derivation of the equations the average final weight was greater for fish fed 25,9% CP and greater weight gain was observed with 25,8% CP. The parameters of carcass yield showed no significant difference (P>0,05). For chemical composition only moisture and ether extract showed significant differences, showing a linear effect for both, with an inverse correlation between these parameters, as increased levels of protein in the diet increased moisture and decreased the ether extract. There were no statistical differences in the hematological and biochemical variables, showing that protein levels contained in the diets did not influence the physiological status of fish. According to the results, we recommend the use of feed containing 25,8% crude protein for pacu (P. mesopotamicus) juvenile, reared in cages system. / O presente estudo objetivou avaliar o desempenho produtivo de pacus (Piaractus mesopotamicus) cultivados em tanques rede no reservatório da Itaipu Binacional, alimentados com rações contendo diferentes níveis de proteína bruta. O experimento foi realizado no Centro de Desenvolvimento de Tecnologia para Piscicultura em Tanques rede, localizado junto ao Refúgio Biológico de Santa Helena - PR, por um período de 74 dias. Foram utilizados 2.000 peixes com peso médio de 150,5±2,1g distribuídos em um delineamento inteiramente casualizado com cinco tratamentos e quatro repetições em 20 tanques rede, com 5,0 m³ de volume útil por tanque rede, sendo a unidade experimental composta por um tanque com 100 peixes. Os tratamentos foram constituídos por cinco rações extrusadas com diferentes níveis de proteína bruta (18,5; 20,7; 23,7; 25,6 e 28,3 %). O arraçoamento foi efetuado três vezes ao dia, até a saciedade aparente dos animais. Ao término do experimento foram aferidos os parâmetros de desempenho zootécnico, rendimento de carcaça, composição química dos filés e hematologia. O peso final médio, ganho de peso e ganho de peso diário apresentaram efeito quadrático (p<0,05). Foram observados efeito linear para conversão alimentar. Após a derivação das equações o maior peso final médio ocorreu para peixes alimentados com 25,9% PB e o maior ganho de peso foi observado com 25,8% PB. Os parâmetros de rendimento de carcaça não apresentaram diferenças significativas (p>0,05). Para composição química a umidade e o extrato etéreo apresentaram efeito linear, com relação inversa entre estes parâmetros. O aumento do nível de proteína bruta na dieta elevou o percentual de umidade e reduziu a porcentagem de extrato etéreo. Não foram observadas diferenças estatísticas para as variáveis hematológicas e bioquímicas, demonstrando que os níveis protéicos contidos nas dietas não influenciaram na higidez dos peixes. De acordo com os resultados obtidos, recomenda-se a utilização de ração contendo 25,8% de proteína bruta para juvenis de pacu (P. mesopotamicus), criados em sistema de tanques rede.