nÃo hà / A proposta deste trabalho tem como objetivo central explicitar a presenÃa de um carÃter transvalorativo na primeira obra publicada por Nietzsche: O nascimento da tragÃdia. Esta traz embrionariamente, segundo o prÃprio filÃsofo, o que seria mais tarde o objetivo central de toda sua filosofia: a transvaloraÃÃo de todos os valores, isto Ã, o nascimento de um novo parÃmetro de avaliaÃÃo, de novos valores. Nietzsche, em textos de seu Ãltimo perÃodo filosÃfico como Tentativa de autocrÃtica, CrepÃsculo dos Ãdolos e Ecce Homo, [aponta para essa intenÃÃo de redimensionamento de suas teses iniciais; ou seja,] alega que O nascimento da tragÃdia foi a sua primeira TransvaloraÃÃo de todos os valores. Focando exclusivamente em textos escritos na sua juventude (1872 â 1875) e maturidade (1886 â 1888) filosÃfica, a relaÃÃo entre arte e conhecimento, nos perÃodos apontados, indicarà em que sentido a transvaloraÃÃo deve seguir. à na arte, mais precisamente na arte trÃgica, que Nietzsche vislumbra uma existÃncia positiva, no sentido de que a arte afirma a vida. O homem, assumindo uma vida artÃstica, ou seja, reconhecendo-se como criador e destruidor de valores, torna-se capaz de promover uma mudanÃa radical nos valores vigentes, uma transvaloraÃÃo dos valores. Entretanto, a crenÃa no conhecimento ilimitado, que a tendÃncia inartÃstica do socratismo engendrou em nossa sociedade moderna, obsta a vinda de uma nova era trÃgica (artÃstica). Essa crenÃa supervaloriza a razÃo dotando-a, segundo Nietzsche, erroneamente da capacidade de desvendar os enigmas da vida. Assim, O nascimento da tragÃdia traz em si as bases da filosofia tardia nietzschiana, pois nela jà se encontram temas de extrema importÃncia do seu filosofar, sÃo eles: crÃtica à razÃo exacerbada iniciada por uma tendÃncia inartÃstica denominada de socratismo (estÃtico e teÃrico) e a apologia a uma sabedoria trÃgica (dionisÃaca), a qual sà pode ser aprendida atravÃs da arte. A luta de Nietzsche Ã, portanto, alertar o homem moderno, herdeiro do socratismo, o quanto a vida guiada por essa tendÃncia inartÃstica à decadente; à mostrar que sà atravÃs de uma existÃncia artÃstica o homem seria capaz de superar valores decadentes. A valorizaÃÃo da arte à a proposta afirmativa de Nietzsche em O nascimento da tragÃdia que serà retomada em sua filosofia derradeira, pois à somente por meio dela que uma transvaloraÃÃo de todos os valores se tornarà possÃvel e, consequentemente, a vida serà tonificada e afirmada. / The major purpose of the present study is to make explicit the possible presence of a revaluative approach in Nietzscheâs first published work, The birth of tragedy. That book brings, according to the philosopher, the first signs of his mature central conception: the revaluation of all values, that is, the birth of a new consciousness and new values. In the late period of his philosophical works, such as Ecce homo, Twilight of idols and Attempt of self-critique, Nietzsche points out to that intention of a reformulation of his initial conceptions. That is to say, he declares that The birth of tragedy was his first revaluation of all values. If we mainly focus on his early (1872 â 1875) as well as his late (1886 â 1888) philosophical works, we can find throughout the relation between art and knowledge in what sense the revaluation of all values is to be conceived. It is on art, more specifically on the art of tragedy that Nietzsche sees a positive way for human existence, since art makes life become positive. If mankind adopted a way of life guided by its own artistical powers, it could recognize its proper skills either to create or to destroy moral values, becoming able of promoting a radical change of predominant moral values, that is, a revaluation of all values. Nevertheless, the belief of an unlimited knowledge, which the unartistic tendency inherited from the aesthetic socratism opposes the offspring of a new tragic (artistic) approach. That belief erroneously over-estimates rationality as it were able to solve all enigmas of life. Therefore, The birth of tragedy brings the very foundations of Nietzscheâs late philosophy, since one can find in that work the most important issues of his thought: the critique of an exaggerated rationality initiated by an unartistic tendency named aesthetical socratism; the apology of a tragic wisdom (dionisiac), which will only be apprehended by art. Nietzscheâs struggle, therefore, aimed to call modern mankindâs attention, witch inherited aesthetic socratism, to realize the decadence of a lifestyle guided by unartistic tendencies; he also pointed out that only throughout an artistic existence mankind would be able to overcome decadent values. In that sense, art is Nietzscheâs affirmative proposal in The birth of tragedy which will be maintained in his latest philosophy. That is because it is only by that first work that the philosopher would be able to propose a revaluation of all values in his final work, by means of which life would be toned up in order to become positive.

O objetivo desta dissertação é analisar o uso e a apropriação do espaço na cidade de São Paulo na perspectiva do processo de revalorização do seu Centro Histórico. A análise focaliza, sobretudo, os problemas relacionados aos planos e estratégias voltados para o reforço da função habitacional desta região. Dentre as estratégias do poder público para a revalorização do Centro estão incluídas propostas que estimulam o seu uso habitacional. Entretanto, em torno deste objetivo se evidenciam diferentes interesses dos agentes sociais (dentre os quais estão a Associação Viva o Centro e o Fórum Centro Vivo) que entram em conflito pelo uso e apropriação deste espaço. Neste cenário de disputas em torno do Centro Histórico de São Paulo, averiguam-se, ainda, como as diretrizes e instrumentos contidos no Estatuto da Cidade sobre o uso do solo são aplicados nesta centralidade e quais seus possíveis efeitos. / This dissertation aims at analyzing the usage and appropriation of space in the city of São Paulo from the perspective of the Historic Center\'s revaluation process. The focus of the analyses lies mainly on problems related to the plans and strategies directed to reinforce the region\'s residential function. Proposals to stimulate its residential function are included among the policy strategies to revalue the Historic Center. However, different interests of social agents (Associação Viva o Centro and Fórum Centro Vivo among others) around this objective become evident. These social agents start a conflict over the usage and appropriation of the space. In this setting, the application and possible effects of the guidelines and instruments contained in the City\'s Statute on the usage of soil in this locality are further investigated.

The thesis deals with the topic of economic growth of the poor, least developed countries. For this group of countries, which includes most of sub-Saharan Africa, is characteristic that for the last half-century this group has shown no significant economic growth per capita. This fact is surprising at first glance if compared with other economic development groups of the developing world. Economic differences between the least developed countries on the one hand, and emerging and developing countries on the other hand, are increasing despite efforts by international development agencies. I intend to answer the question, what are the causes of poor economic performance of the least developed countries.

西元二零零八年(民國九十七年)發生的全球性金融海嘯在歷史上絕對會是重要的金融事件之一，初期的徵兆點可追溯自二零零七年美國的次貸事件惡化，此次金融海嘯會在何時畫下句點，各領域的大師眾說紛紜：有人聲稱這次金融海嘯是二次世界大戰以來發生之最嚴峻的一次，將持續至少四~五年；有人說經濟大蕭條會延宕到二零一零年；樂觀的多頭大師則云今年(西元二零零九年)下半年即可嗅到景氣回春的訊息，然而在我寫這論文時，景氣蕭條的氛圍仍持續瀰漫著。雖然這篇論文並不是要探討這次歷史性金融海嘯的前因後果，但是引發我探討這篇論文主題的基差風險，卻源於美國次貸事件惡化後，金融市場反應的LIBOR 3M與LIBOR 6M間基差報價擴大現象而有所關聯。 本文針對交易室的投資組合中，在利率產品交易裡使用的浮動利率指標(Floating Rate Index)，不論是LIBOR 1M、LIBOR 3M、LIBOR 6M或LIBOR 12M，原本用來評價內含這些浮動利率指標產品的曲線(Revaluation Curve)均是由3M Swap Rate (USD LIBOR 3M)市場價格所建構而成；在納入基差因子，實際反映市場基差報價來分別建構不同浮動利率指標交易對應的不同評價曲線，比較納入基差因子前後及模擬各種基差市場價格情境下，對投資組合進行評價的損益差異，來說明忽略基差風險對投資組合的影響程度。

Considerando o movimento de explosão da metrópole a partir do processo de industrialização, esta pesquisa buscou compreender o atual processo de revalorização do Centro de São Paulo como um resultado histórico que deriva do processo de reprodução da metrópole. Assim, orientado pela tríade valorização-desvalorização-revalorização, o referencial de análise para o momento atual consistiu no movimento das políticas de intervenção no espaço do Centro de São Paulo, postas em prática pelo Estado a partir da década de 1990. Conforme houve o movimento de explosão da metrópole, houve também a implosão do Centro em função da escassez de espaço que impediu sua adequação às novas necessidades, resultando no desdobramento da centralidade econômica e, por conseguinte, em sua desvalorização. Marcado pela intensificação de um processo de ocupação por classes mais populares, cujo resultado será o das ocupações dos edifícios vazios a partir da década de 1990, a desvalorização será marcada pela deterioração do espaço e por este fator ligado à intensificação da sua ocupação proletária. Neste processo a propriedade privada do solo urbano passa por um processo de apropriação cujo fundamento se realiza em função do uso do espaço. Neste contexto, as políticas para a intervenção no espaço do Centro de São Paulo desenvolvem seus mecanismos para revalorizar o espaço e, ao mesmo tempo, reverter o quadro cada vez maior desta proletarização do Centro. De estratégias pontuais estas passaram para estratégias espaciais, por meio da delimitação estratégica de territórios que visam produzir novas formas de uso para o espaço. Neste movimento, as intervenções para a revalorização do espaço no Centro de São Paulo se realizam enquanto políticas urbano-territoriais que se articulam e, ao mesmo tempo, são complementadas pelas estratégias da cultura, responsáveis pelas novas representações do espaço. Conforme a metrópole em seu processo de reprodução torna-se força produtiva, o Centro torna-se capital fixo para o processo de reprodução que se realiza por meio da expansão por novas áreas espacialmente contíguas. O resultado é uma disputa pelo espaço conforme o interesse das classes sociais pelo espaço no Centro de São Paulo. / Considering the movement of explosion of the metropolis from the industrialization process, this research sought to understand the current of the revaluation process of downtown São Paulo as a historical result that derives from the metropolis reproduction process. Thus, oriented by valuation-devaluation-revaluation triad, the referential of analysis for the current moment consisted in the movement of policy interventions within the São Paulo downtown, implemented by the State from the 1990s. As was the movement of the metropolis explosion, there was also the downtown implosion due to the scarcity of space which prevented their adaptation to new needs, resulting in the deployment of the economic centrality and consequently, in its devaluation. Marked by the intensification of a process of occupation by popular classes, whose result will be the occupations of empty buildings from the 1990s, the devaluation will be marked by the deterioration of space and this factor linked to the intensification of its proletarian occupation. In this process the private ownership of urban land goes through a process of appropriation whose fundament is realized due to the use of space. In this context, policies for intervention in the space of downtown São Paulo develop its mechanisms to revalue the space and at the same time, reverse the situation of this proletarianization of the downtown São Paulo. Of specific strategies these have to spatial strategies, through the strategic demarcation of territories that aim to produce new forms of use for the space. In this movement, interventions to the revaluation of the downtown São Paulo are held as urban-territorial policies that articulate and at the same time, are complemented by strategies of culture, responsible for new representations of space. Therefore, as the metropolis in their reproduction process becomes productive force, the downtown becomes fixed capital for the reproduction process that takes place through the expansion of new spatially contiguous areas. The result is a fight for space as the interest of social classes through space in São Paulo downtown.

[pt] Aproveitando as linhas gerais do perfil crítico-biográfico, esta dissertação traça considerações em torno das múltiplas linguagens desenvolvidas por Arthur Omar para intervir no panorama cultural contemporâneo. Algumas categorias do pensamento estético-epistemológico atual são revistas à luz do exame das propostas mais radicais desse artista. / [en] Taking the main lines of the critical-biographic profile some considerations are made on the multiple languages developed by Arthur Omar to intervene in the contemporary cultural scenario. Some of the categories of the current aestheticepistemological thought are examined in the light of the artist`s most radical proposals.

本研究的目的在探討，盈餘中所包括的由營業而來的運用資金及現金流量相對於盈餘而言，是否具增額資訊內涵？動機來自於我國於民國78年12月28日公布現金流量表取代財務狀況變動表，前者之主要衡量指標為營業活動現金流量，後者則為營業而來之運用資金，而以前者取代後者的理由究竟是因營業活動現金流量較營業而來運用資金更具資訊內涵？抑或是營業而萊的運用資金與盈餘之相關性太高，導致該指標無增額資訊內涵，而須提供與盈餘相關性較低的現金流量資訊？還是財務狀況妥動表相對於損益表及現金流量表而言，已無法提供增額資訊內涵？由於相關研究結果分歧，故本論文試圖做一深入瞭解。 本研究採事件研究法(Event Study)，藉由橫斷面分析，透過四階段進行測試：第一階段比較營業而來的運用資金及營業活動現金流量之相對資訊內涵；第二階段則加入稅後盈餘，測試第一階段之自變數相對於稅後盈餘而言，是否具增額資訊內涵，至於測試方法則採用可能比例測試法(Liklihood Ratio Test)，測試全迴歸模式中，某一特定變數的估計值是否異於零的方式；第三階段則將異積異常報酬(CAR)分成高、中、低三組，重新檢視一、二階段之結果，看是否在三組間能獲得相同的結論。最後則測試重大非營業項目及土地重估增值之增額資訊內涵。 本研究以162家國內上市製造業為樣本，蒐集其民國八十年至八十四年之財務資料進行實證研究，獲致以下結論： 一、營業而來的運用資金及現金流量相對資訊內涵之比較以年度資料及Pooling結果觀之，除民國80年之營業而來運用資金及營業活動現金活動與股票報酬有顯著關聯性外，其餘年度（包括pooling）則否，故無法得出年度之一般化結論。但若將累積異常報酬之pooling結果依大小分為三組，結果發現高報酬組中，營業而來的運用資金與股票報酬關聯性大於營業活動現金流量，此項結果與前者為加計流動性應計項目之資訊有關，而另外兩組無法得出結論。 二、營業而來的運用資金及現金流量增額資訊內涵之比較以年度資料觀之，民國80年的營業而來運用資金有超越盈餘及營業活動現金流量之增額資訊內涵。而從分組結果得知，高報酬組中，盈餘及營業而來的運用資金皆具有增額資訊內涵。 三、重大非營業項目及土地重估增值資訊內涵之比較以分組結果觀之，在高報酬組中，迴歸模式主要解釋能力來自盈餘，而處分投資、固定資產利得及土地重估增值均無增額資訊內涵；但在中、低報酬組及Pooling，處分固定資產利益皆具增額資訊內涵。 / This study aims to examine the incremental information contents of working capitals and cash flows which is mainly motivated by the mandated accounting regulation in relation to statement of cash flows on December 28, 1989. The empirical analysis includes 162 samples covering from 1991 to 1995. The findings can be summarized as follows. 1. In addition to the samples of 1991, no significant association between cash flows from operations (including working capitals from operations) and stock returns can be detected. Among high returns sample group, the working capital from operations significantly associates with stock returns, if all samples are pooled. 2. In 1991, the working capitals from operations has significant incremental information contents. In addition, among high returns samples the working capital from operations has significant incremental information contents, if all samples are pooled. 3. Among high returns samples, the explanatory power of stock returns is mainly derived from earnings. In addition, gain on disposal of fixed asset has significant incremental information contents in medium and low return sample groups.

There is a lack of relevant research of fixed assets revaluation practices in New Zealand. This study provides some insights as (1) why some New Zealand firms choose to revalue their fixed assets; (2) when will a firm revalue its fixed assets; and (3) whether fixed asset revaluation provides information to investors. This research attempts to explain the motivations of the management’s fixed asset revaluation decision in New Zealand. The empirical analysis includes five common explanatory variables, such as gearing (debt-equity ratio), liquidity, market-to-book ratio, firm size, and fixed asset intensity. In addition, the relationship between asset revaluation and share price movements of the firms are examined to determine the perceived usefulness of fixed asset revaluation information for the capital market in New Zealand. The study results show that fixed asset intensity and firm size significantly contribute to the revaluation decision. In contrast to the findings of previous studies (Whittred and Chan, 1992; Brown, Izan, and Loh, 1992; and Missionier-Piera, 2007), the level of corporate gearing is negatively related to the probability of revaluing assets for the sample of New Zealand firms in this study. However, the effect of the level of gearing on the revaluation decision is insignificant. The empirical results did not show any significant outcomes and relationships for investigated year 1998. This is because 1998 signified the end of recession and the beginning of economic growth in New Zealand. At the end of a recession, the changes in the country’s economic environment might have superseded individual firms’ considerations in management decision making process. The empirical results show that the practice of revaluation increased sharply with the adoption of the IFRS in 2005 in New Zealand. About 28.1% of the revaluation announcements under study were made in 2005 compared to just over 15.8% in 2001. Furthermore, the empirical results show negative returns accrue to firms prior to the publication of financial statements that carry revaluation announcements. These negative returns are reverted as soon as the revaluation information is made public. These gains are again maintained for at least a month after the announcements are made. Comparing frequent revaluers to first time revaluers, the results show that asset revaluation information is relevant to investors. Frequent revaluers gained only 0.8% announcement abnormal returns while First time revaluers gained over 4% in the 2005.

Depuis la loi du 1er août 2003 d’orientation et de programmation pour la ville et la rénovation urbaine, les quartiers dits « sensibles » des agglomérations françaises sont engagés dans un vaste programme de transformation, présenté par son concepteur, Jean-Louis Borloo, comme le plus grand chantier du siècle. Localement, les projets de rénovation urbaine s’appuient sur des opérations urbanistiques – démolition, réhabilitation, construction de logements – qui suscitent des mobilités résidentielles plus ou moins contraintes et organisées par les acteurs engagés dans les projets. Cette thèse pose la question de l’impact de ces opérations dans l’évolution des quartiers, replacés dans une perspective temporelle plus longue. Y a-t-il rupture radicale dans les dynamiques observées à moyen terme ? Quels sont les effets des transformations physiques et des mobilités résidentielles induites sur la composition sociale des quartiers rénovés ? À l’aide d’une démarche inductive et pragmatique partant de la comparaison de quatre sites en rénovation, et d’une analyse statistique, ce travail de recherche interroge l’effet de lieu dans la rénovation urbaine. Les conclusions mettent en évidence que des phénomènes structurels (parc de logements initial, contexte géographique et social) contraignent fortement l’évolution des sites, et que les mobilités résidentielles se traduisent par une reconcentration des populations précaires dans des quartiers de plus en plus fragmentés. / In 2003, a landmark enactment was passed in France to fight urban blight. Since then, the French government is engaged in a policy of major urban renewal that targets run-down neighborhoods in central or peripheral urban areas. Local projects consist in refurbishing existing buildings or in tearing down and rebuilding old ones, as a way to promote spatial and social changes. Those programs induce different types of residential mobility, from mandatory mobility implemented by local players, to mobility that is more spontaneous. This thesis addresses the impact of those projects upon the evolution of the targeted areas, studied on a middle-term basis. Do the spatial and social dynamics of those areas radically change? What are the social consequences of the transformations of the built environment and of residential mobility? Our approach is inductive, and pragmatic. The comparison of four projects, statistically studied, allows us to test the hypothesis of an impact of place on urban renewal. As the result of our analysis, structural facts, such as housing stock, or social and geographical contexts, appear to be determining factors of the evolution of the studied areas. Residential mobility tends to re-concentrate disadvantaged people, thus increasing spatial fragmentation – which does not match the initial goals of the 2003 law.

Considerando o movimento de explosão da metrópole a partir do processo de industrialização, esta pesquisa buscou compreender o atual processo de revalorização do Centro de São Paulo como um resultado histórico que deriva do processo de reprodução da metrópole. Assim, orientado pela tríade valorização-desvalorização-revalorização, o referencial de análise para o momento atual consistiu no movimento das políticas de intervenção no espaço do Centro de São Paulo, postas em prática pelo Estado a partir da década de 1990. Conforme houve o movimento de explosão da metrópole, houve também a implosão do Centro em função da escassez de espaço que impediu sua adequação às novas necessidades, resultando no desdobramento da centralidade econômica e, por conseguinte, em sua desvalorização. Marcado pela intensificação de um processo de ocupação por classes mais populares, cujo resultado será o das ocupações dos edifícios vazios a partir da década de 1990, a desvalorização será marcada pela deterioração do espaço e por este fator ligado à intensificação da sua ocupação proletária. Neste processo a propriedade privada do solo urbano passa por um processo de apropriação cujo fundamento se realiza em função do uso do espaço. Neste contexto, as políticas para a intervenção no espaço do Centro de São Paulo desenvolvem seus mecanismos para revalorizar o espaço e, ao mesmo tempo, reverter o quadro cada vez maior desta proletarização do Centro. De estratégias pontuais estas passaram para estratégias espaciais, por meio da delimitação estratégica de territórios que visam produzir novas formas de uso para o espaço. Neste movimento, as intervenções para a revalorização do espaço no Centro de São Paulo se realizam enquanto políticas urbano-territoriais que se articulam e, ao mesmo tempo, são complementadas pelas estratégias da cultura, responsáveis pelas novas representações do espaço. Conforme a metrópole em seu processo de reprodução torna-se força produtiva, o Centro torna-se capital fixo para o processo de reprodução que se realiza por meio da expansão por novas áreas espacialmente contíguas. O resultado é uma disputa pelo espaço conforme o interesse das classes sociais pelo espaço no Centro de São Paulo. / Considering the movement of explosion of the metropolis from the industrialization process, this research sought to understand the current of the revaluation process of downtown São Paulo as a historical result that derives from the metropolis reproduction process. Thus, oriented by valuation-devaluation-revaluation triad, the referential of analysis for the current moment consisted in the movement of policy interventions within the São Paulo downtown, implemented by the State from the 1990s. As was the movement of the metropolis explosion, there was also the downtown implosion due to the scarcity of space which prevented their adaptation to new needs, resulting in the deployment of the economic centrality and consequently, in its devaluation. Marked by the intensification of a process of occupation by popular classes, whose result will be the occupations of empty buildings from the 1990s, the devaluation will be marked by the deterioration of space and this factor linked to the intensification of its proletarian occupation. In this process the private ownership of urban land goes through a process of appropriation whose fundament is realized due to the use of space. In this context, policies for intervention in the space of downtown São Paulo develop its mechanisms to revalue the space and at the same time, reverse the situation of this proletarianization of the downtown São Paulo. Of specific strategies these have to spatial strategies, through the strategic demarcation of territories that aim to produce new forms of use for the space. In this movement, interventions to the revaluation of the downtown São Paulo are held as urban-territorial policies that articulate and at the same time, are complemented by strategies of culture, responsible for new representations of space. Therefore, as the metropolis in their reproduction process becomes productive force, the downtown becomes fixed capital for the reproduction process that takes place through the expansion of new spatially contiguous areas. The result is a fight for space as the interest of social classes through space in São Paulo downtown.