Thesis (MSc)--Stellenbosch University, 2013. / ENGLISH ABSTRACT: The abundance and diversity of carbohydrate and protein resources in the southern Cape of South Africa may well have aided the survival of modern humans through the harsh climatic conditions of the late Pleistocene. Until now, the carbohydrate resources, in particular the underground storage organs (USOs) of some plant species have not been described from a forager’s perspective. This is baffling when one considers that the Cape Floristic Region of South Africa harbors the highest diversity of geophyte (herbaceous plants which possess USOs) species in the world. I report on USO distribution and abundance in the southern Cape of South Africa and on the effort, nutritional return and energetic return rates of harvesting these USOs. To determine their distribution and abundance, I assessed identity and abundance in a hundred 25m2 plots. These data, along with biomass data of every species sampled, allowed me to quantify the variation of this potential food source over different habitat types in the southern Cape landscape. Furthermore, I observed the time it took for human subjects to gather a sample of six USO species in three different vegetation types and in two seasons. Proximal analyses of the nutritional content of each of these species provided data which, when combined with foraging time, enabled a basic quantification of the return rate of energy (in calories) per time unit. There is high variability in the distribution of edible USO abundance and biomass across the study area, with some sites having very high biomass. Such biomass hotspots are likely to have been targeted by foragers, returning biomass values comparable to other studies which have been conducted on extant hunter-gatherer communities. Due to considerable variation over the landscape, the hotspots of biomass did not correlate significantly with any abiotic variables we measured. This suggests that hotspots of high biomass may have been challenging to find, unless the cognitive skills required to locate such patches were sufficiently developed – certainly excellent knowledge of the landscape and botany would have been crucial if survival depended on locating these diet items. USO species belonging to the Iridaceae family had the highest overall and average biomass in the area, so it is not surprising that this family is best represented amongst USO plant remains found in the archaeological record. Little effort (time) was required to obtain the six species of USOs we observed, although the weights obtained were also low. The nutritional returns of the six test species were higher than in other studies. The return rates per simulated foraging event in this study therefore compare favorably to the anthropological observations of extant hunter-gatherer communities. The lines of evidence presented in this thesis therefore lend support to the hypothesis that the USO resources of the southern Cape would have provided a large component of the carbohydrate requirements for sustaining hunter-gatherer communities. The data set presented in this thesis can be considered a baseline for future studies. / AFRIKAANSE OPSOMMING: Die digtheid en diversiteit van koolhidraat- en proteïenhulpbronne in die Suid-Kaap van Suid-Afrika mag die oorlewing van die moderne mens beïnvloed het tydens die ongunstige klimaatstoestande wat geheers het deur die laat Pleistoseen. Tot op hede is die koolhidraathulpbronne in die area nie beskryf vanuit ‘n kosversamelaar se perspektief af nie, spesifiek nie die koolhidrate wat deur ondergrondse stoororgane (OSO's) van sommige plantspesies verskaf kan word nie. Dié feit is verstommend as mens in ag neem dat die Kaapse Floristiese Streek van Suid-Afrika die hoogste geofietspesies (kruidagtige plante met OSO's) diversiteit ter wêreld het. Ek rapporteer oor die verspreiding en digtheid van OSO's in die Suid-Kaap en op die inspanning, voedingswaarde en energie-opbrengskoerse verbonde aan die oes van dié OSO's. Verspreiding en digtheid is bepaal oor ʼn honderd 25m2 plotte. Dié data, saam met die biomassa-data van elke spesie wat geïdentifiseer was, is gebruik om potensiële voedselbronne te kwantifiseer in verskillende habitattipes in die Suid-Kaap. Ek het verder die tyd wat dit neem vir mense om die ses geïdentifiseerde OSO-spesies te oes in drie verskillende habitatte en twee seisoene waargeneem. Voedingswaarde-data, tesame met OSO-oestyd-data, is gebruik vir die basiese berekening van energie-opbrengskoerse van spesies deur middel van proksimale analises. Daar is hoë variasie in die verspreiding, digtheid en biomassa van eetbare OSO's gevind in die studie-area, met sommige plotte wat baie hoë biomassa bevat het. Hierdie areas van hoë biomassa sou heel waarskynlik deur kos-versamelaars geteiken gewees het, en gevolglik hoë opbrengste van biomassa bied, wat vergelykbaar is met die biomassa-waardes wat waargeneem word binne areas waar huidige jagter-versamelaar-gemeenskappe tans oorleef. As gevolg van die aansienlike variasie wat waargeneem is oor die landskap het die hoë-biomassa-areas nie beduidend gekorreleer met enige abiotiese veranderlikes wat gemeet is nie. Dit dui daarop dat hoë-biomassa-areas moeilik kan wees om te vind, tensy kognitiewe vermoëns wat noodsaaklik is om kolle van hoë biomassa te vind ontwikkel was. OSO-spesies wat aan die Iridaceae-familie behoort het die hoogste algehele en gemiddelde biomassa in die area gehad. Dit is dus nie verbasend dat dié familie die beste verteenwoordig word in die argeologiese rekord van OSO-plantoorskot nie. Min inspanning (tyd) was nodig om die OSO's van die ses geïdentifiseerde spesies te bekom, alhoewel die massa wat bekom is ook laag was. Die voedingswaarde-opbrengs (per eenheidsmassa) van die ses toetsspesies was hoër as in ander studies. Die energie-opbrengskoers per versamelingsgebeurtenis het gevolglik ook gunstig vergelyk met die antropologiese waarnemings wat van huidige jagter-versamelaars gemeenskappe gemaak is. Die resultate van hierdie studie ondersteun die hipotese dat die OSO-hulpbronne in die Suid-Kaap 'n groot komponent van die koolhidraat-vereistes van jagter-versamelaar-gemeenskappe sou gewees het. Die datastel wat in dié tesis aangebied word kan as 'n basisverwysing dien vir toekomstige studies.

Abstract Engineering, service and finance are three main tasks of Taiwan Water Corporation. Water rate is not only the main factor which determines the financial income, but also the significant managerial means which influence the efficiency of water resources allocation. Current water rate of Taiwan Water Corporation hasn¡¦t been adjusted for at least twelve years. During these years, price index raises and people are getting more and more demanding for water quality and stability of water supply. On the other hand, it costs increasingly to develop new water resources and increase the popularity rate, not to mention about replacing pipes and improving water quality. These entire efforts make operation cost rise enormously year by year. Because the water rate can¡¦t reflect its cost for so many years, Taiwan Water Corporation has been long term in debt. This affects not only the general operation. Meanwhile, Taiwan Water Corporation also has no finance to develop water resources and improve water supply system. So it is really critical that water rate should be adjusted right away to reflect the cost of water supply reasonably. It will help a lot to improve the operation of Taiwan Water Corporation and then it can continuously provide high quality of service. This study investigates (1) current operations of Taiwan Water Corporation (2) reasonable water rate structure and calculation (3) mechanism of water rate adjustment (4) proposal of exercising the income of the increase of water rates (5) complete sets of water rate adjustment. This study suggests that water rate should be reviewed once a year. Through this procedure, Taiwan Water Corporation would build up a reasonable water rate adjustment mechanism. Then we expect that it will improve the finance of Taiwan Water Corporation. Also by raising the water rate, people would start to realize that water is valuable and limited resources and promote to achieve the goal to utilize water resources efficiently. Key words¡GAverage ¡V Cost Pricing¡AMarginal ¡V Cost Pricing¡Aand Investment Return Rate

Project (M.B.A.) - Simon Fraser University, 2004. / Theses (Faculty of Business Administration) / Simon Fraser University. MBA-GAWM Program. Senior supervisor: Dr. Peter Klein.

Thesis (Ph. D.)--United States International University, 1989. / Includes bibliographical references (leaves 153-157).

abstract: This paper quantitatively analyses the relation between the return of private seasoned equity offerings and variables of market and firm characteristics in China Ashare market. A multiple-factor linear regression model is constructed to estimate this relation and the result canhelp investors to determine the future return of private placement stocks. In this paper, I first review past theories about private placement stocks, including how the large shareholder participation, the discount of private offerings, the firm characteristics, and the investment on firm value will affect the return of private offerings. According to the past literature, I propose four main factors that may affect the return of private placement. They are the large shareholders participation in private placement; the discount that private placement could offer; the characteristics of the companies that offer a private placement and the intrinsic value of such companies. I adopt statistic and correlational analysis to test the impact of each factor. Then, according to this single-factor analysis, I set up a multiple-factor linear regression model on private seasoned equity offerings return in Chapter Four. In the last two chapters, I apply this quantitative model to other fields. I use this model to testify current financial products of private placement and develop investmen strategies on stocks with private seasoned equity offerings in secondary market. My quantitative strategy is useful according to the result of setback test. / Dissertation/Thesis / Doctoral Dissertation Business Administration 2017

[pt] Este trabalho analisa os Fundos Referenciados ao Dólar no Brasil no período de julho/2000 a junho/2001. Foram especificamente selecionados os fundos disponíveis ao público de varejo. Dentro do tema tratado, foi discutida a questão do cupom cambial brasileiro e das suas variações nos negócios realizados com os ativos disponíveis no mercado - o cupom - sujo - e o cupom - limpo -. O principal objetivo da pesquisa foi o de identificar diferentes grupamentos na população dos fundos estudada. Para tanto, foram analisados os aspectos variáveis mercadológicas e variáveis financeiras para cada fundo. Dentre as variáveis mercadológicas foram tratadas taxa de administração, requisitos de aplicação mínima inicial, patrimônio líquido, regime de negociação de cotas e tipo de cota.No que diz respeito às variáveis financeiras foram identificados e avaliados o benchmark, as relações de desempenho através do Índice de Sharpe e Retorno Diferencial sobre o Sigma e foram feitas comparações entre os indicadores de retorno e risco das cotas em dólar com o cenário do cupom de mercado no período. / [en] The object of this study were the Investment Funds Indexed to the Dollar available to the general investor in the Brazilian market, from July/2000 to June/2001. In order to analyse their behaviour, the study discussed the theoretical background of the return rate curve for dollar related assets in Brazil and how it impacts their negotiations, by producing two different terms - the -clean- rate and the -dirty- rate. The main goal of the research was to find out if the funds could be separated into different clusters. In order to achieve this, two different aspects of the funds were studied - marketing and financial. Their marketing characteristics dealt with fees, minimum investment requirements, relevant day for the NAVPS and NAVPS availability. The financial characteristics were approached by their return and risk, benchmark and performance index analysis - thru the Sharpe Index and the Differential Return over the Sigma. The return and risk obtained for the funds were also compared to the return and risk observed in the domestic curve of the Brazilian risk up to 720 days.

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / Muitos estudos buscam tentar prever o retorno potencial sobre portfólios de ações, com intuito de obter melhor rentabilidade sobre o capital aplicado. Diversas modelagens já foram utilizadas, sendo que as mais conhecidas são as que relacionam o risco com o retorno. Nesta linha destacam-se a Teoria de Carteiras proposta por Markowitz, e o CAPM de Sharpe. Através destas teorias entende-se a questão da influência da covariância dos retornos e que para um melhor desempenho de uma carteira, não é suficiente avaliar cada ativo individualmente. Por outro lado, diversas críticas em relação ao CAPM, vêm ensejando estudos complementares na busca de outras variáveis que melhorem os métodos de seleção de ativos. Fama e French (1993) fizeram um estudo com variáveis complementares em relação ao beta do CAPM, utilizando o tamanho e a relação Book to Market, conseguindo resultados melhores que o CAPM tradicional. O presente estudo leva em conta a questão do reinvestimento do lucro gerado e utilizando o modelo de Gordon propõe uma variável de classificação de empresas de crescimento e empresas valor, conceito já utilizado na literatura de finanças.Com base nesta variável montam-se carteiras de ações entre os anos de 2005 e 2012 e observa-se que é possível obter ganhos com a lógica proposta. Ao longo do período seria possível obter com as carteiras selecionadas ganhos de até 107,85% contra os retornos de 55,58% das carteiras com todos os ativos. Organizamos os mesmos ativos pela ótica da relação Book to Market as quais obtiveram retorno total do período de 90,42%. Apesar de notar uma mudança clara de comportamento, onde apenas nos quatro primeiros anos do estudo as carteiras com empresas value são superiores e nos quatro últimos períodos as carteiras de empresas growth são as melhores. Estes resultados são compatíveis com os resultados de Braga e Leal (2000), e Mescolin, Martinelli Braga e da Costa Jr. (1997), verificando um melhor desempenho para as empresas value. / Many studies have tried to predict the potential return on stock portfolios, aiming to get better return on invested capital. Several modeling have been used, and the more popular are those that relate the risk with the return. In this area, stand out the Portfolio Theory proposed by Markowitz and the CAPM proposed by Sharpe. Through these theories can be understood the influence of the covariance of returns, and for a best performance of a portfolio, is not enough to assess each individual asset. On the other hand, many criticism of the CAPM, have generating additional studies in search of other variables to improve the methods of selection of assets. Fama and French (1993) conducted a study with additional variables in relation to the CAPM beta, using the size and the relationship Book to Market, achieving better results than the traditional CAPM. This study considers the issue of the generated profit reinvestment, and using the model of Gordon proposes a classification variable for growth companies and value companies, which are concepts already used in finance literature. Based on this variable are set up stock portfolios between the years 2005 and 2012 and it is observed that it is possible to get earnings with the logic proposed. Over the period could be obtained with the selected portfolios up to 107.85% gains against the returns of 55.58% of the complete portfolio with all assets. We organize the same stocks from the perspective of the relationship Book to Market which had a total return of 90.42% on the whole period. Although observed a clear change of behavior, where only the first four years of the study portfolios with value companies are superior and the last four years portfolios of growth companies are the best. These results are consistent with the results of Braga and Leal (2000), and Mescolin Martinelli Braga and Costa Jr. (1997), watching a better performance for value companies.

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / Muitos estudos buscam tentar prever o retorno potencial sobre portfólios de ações, com intuito de obter melhor rentabilidade sobre o capital aplicado. Diversas modelagens já foram utilizadas, sendo que as mais conhecidas são as que relacionam o risco com o retorno. Nesta linha destacam-se a Teoria de Carteiras proposta por Markowitz, e o CAPM de Sharpe. Através destas teorias entende-se a questão da influência da covariância dos retornos e que para um melhor desempenho de uma carteira, não é suficiente avaliar cada ativo individualmente. Por outro lado, diversas críticas em relação ao CAPM, vêm ensejando estudos complementares na busca de outras variáveis que melhorem os métodos de seleção de ativos. Fama e French (1993) fizeram um estudo com variáveis complementares em relação ao beta do CAPM, utilizando o tamanho e a relação Book to Market, conseguindo resultados melhores que o CAPM tradicional. O presente estudo leva em conta a questão do reinvestimento do lucro gerado e utilizando o modelo de Gordon propõe uma variável de classificação de empresas de crescimento e empresas valor, conceito já utilizado na literatura de finanças.Com base nesta variável montam-se carteiras de ações entre os anos de 2005 e 2012 e observa-se que é possível obter ganhos com a lógica proposta. Ao longo do período seria possível obter com as carteiras selecionadas ganhos de até 107,85% contra os retornos de 55,58% das carteiras com todos os ativos. Organizamos os mesmos ativos pela ótica da relação Book to Market as quais obtiveram retorno total do período de 90,42%. Apesar de notar uma mudança clara de comportamento, onde apenas nos quatro primeiros anos do estudo as carteiras com empresas value são superiores e nos quatro últimos períodos as carteiras de empresas growth são as melhores. Estes resultados são compatíveis com os resultados de Braga e Leal (2000), e Mescolin, Martinelli Braga e da Costa Jr. (1997), verificando um melhor desempenho para as empresas value. / Many studies have tried to predict the potential return on stock portfolios, aiming to get better return on invested capital. Several modeling have been used, and the more popular are those that relate the risk with the return. In this area, stand out the Portfolio Theory proposed by Markowitz and the CAPM proposed by Sharpe. Through these theories can be understood the influence of the covariance of returns, and for a best performance of a portfolio, is not enough to assess each individual asset. On the other hand, many criticism of the CAPM, have generating additional studies in search of other variables to improve the methods of selection of assets. Fama and French (1993) conducted a study with additional variables in relation to the CAPM beta, using the size and the relationship Book to Market, achieving better results than the traditional CAPM. This study considers the issue of the generated profit reinvestment, and using the model of Gordon proposes a classification variable for growth companies and value companies, which are concepts already used in finance literature. Based on this variable are set up stock portfolios between the years 2005 and 2012 and it is observed that it is possible to get earnings with the logic proposed. Over the period could be obtained with the selected portfolios up to 107.85% gains against the returns of 55.58% of the complete portfolio with all assets. We organize the same stocks from the perspective of the relationship Book to Market which had a total return of 90.42% on the whole period. Although observed a clear change of behavior, where only the first four years of the study portfolios with value companies are superior and the last four years portfolios of growth companies are the best. These results are consistent with the results of Braga and Leal (2000), and Mescolin Martinelli Braga and Costa Jr. (1997), watching a better performance for value companies.

Abstract This thesis on Ecological housing -- passive houses (stimulation possibilities in the Czech environment) describes passive housing within the development of the Czech building market. This thesis focuses on the technologies of passive housing and compares the devel-opment of passive houses in the Czech Republic and in other European countries. Within the comparison this thesis points out individual economic policy tools used in specific countries. This thesis also defines hypothetical solutions for stimulation of passive housing in the Czech Republic. Efficiency analysis is applied to these solutions. Described hypothetical solutions are based on the costs evaluation of passive and ordinary housing, while the cost calculation takes into account mainly the return rate of additional investment adherent to the passive housing.

The All-Electric Vehicle (AEV) industry development has intensified and is connected to governmentefforts to minimize greenhouse gas emissions and encourage people to buy electric vehicles. This hasled to all the lights turning on newly established all-electric vehicle makers and some older players. Thegrowth of these companies is depicted in their market capitalization, which has seen an unprecedentedrun. However, one can notice a knowledge gap in the analysis of factors affecting such companies'expected rate of return. This research focuses on analyzing the factors from three of the most knownasset pricing models - CAPM, Fama-French 3 Factor, and Fama-French 5 Factor models. It shows whichof these factors are significant in estimating the expected return rate for nine chosen companies and theimpact of each considerable factor on the return rate.Additionally, we calculate the expected return rate using the beforementioned models to verify whetherthere is an uptrend or not in the electric vehicle market. The current research is limited to companieslisted on the US stock market, with only all-electric vehicle production lines. We make an introductionto the AEV theoretical aspects and related market structure. We also present theoretical concepts behindthe expected rate of return perception.The analysis showed that the market risk premium impacts 100% of the companies. The SMB factorinfluences 55% of the companies while the HML factor only 11%. Finally, RMW affects 66% of thechosen dataset and CMA 77%. For all companies, there is a positive expected return rate. Looking atthe significant coefficients for each model, the results are the following: we can observe that for CAPMand all the companies, 100% of the coefficients are positive. For FF3FM, 93% of the significant factorsare positive, while only 7% are negative. Finally, for FF5FM, out of the 28 significant factors, 65% ofthe coefficients are positive, and 35% are negative.