The empirical evidence relating to the stock market reaction to domestic joint ventures (JV) announcements suggest that the mean abnormal returns (MARs) and cumulative abnormal returns (CARs) are consistently positive, whilst those of international joint venture (IJVs) are mixed. One neglected but obvious influence of the stock market response to IJV announcements is the way they are financed. The preference for project finance over corporate finance in the financing of IJVs may have a role to play in this context. Compared with capital structure theories, this gap is seen as quantifying the role of the type of structure or debt (project or corporate finance) plays in shareholder value creation upon announcement. Using a cross-sectional study comprising of a finnal sample of 394 IJV announcements made from the years 2005 to 2010 and retrieved from the Securities Data Company (SDC) database, an event study methodology was used to derive MARs and CARs in a 2l-day window (-10,+10). The MARs and CARs are integrated into regression analyses to examine the specific role the type of finance plays in shareholder value creation upon announcement by controlling for project specific, host nation characteristics and sponsor-specific variables. The findings of the research establish that IJVs on average create value upon announcement but does not have a lasting impact on stock market valuation. As expected, the financial markets' response to IJV announcement during and after the global financial crisis (2008-2010) was not favourable. It was also found that the choice of finance matters in the market response to IJV announcements with project finance having a higher probability of eliciting a significant positive market reaction. Finally, the study revealed that whilst sector and gearing has an impact on MARs and CARs, the legal origin of the host country of the IJV did not make an impact upon announcement.

In general, CEO turnover has been researched widely following numerous studies in developed countries. Nevertheless, the determinants of CEO turnover are still unclear in transition countries of which the legal and regulatory framework are weak and financial systems and corporate governance are underdeveloped. Therefore, examining determinants of CEO turnover in Vietnam, a transition country, helps to provide more evidence on the efficiency and effectiveness of corporate governance in transition countries. Furthermore, the examination helps to define weaknesses, and it, therefore, could provide guidance to improve corporate governance in Vietnamese enterprises. Particularly, the thesis investigates the CEO turnover in Vietnam following the research philosophy of positivism paradigms and deductive approach. Further, it implied logistics regression in order to evaluate the influences of factors on CEO turnover in Vietnamese-listed enterprises. The sample of the thesis, including 156 listed firms at the end of 2006 in Hanoi and HoChiMinh Securities Centres, 780 firm-year observations have been conducted. Among 780 observations, there are 88 CEO turnovers occurred during the observed period from 2006 to 2010. The main findings of the thesis show that firm performance had significant inverse relationship with the likelihood of CEO turnover. Meanwhile, the influence of ownership structure on CEO turnover was insignificant. Interestingly, aged CEOs in Vietnamese-listed enterprises were more likely to be dismissed than young CEOs. Additionally, the probability of CEO turnover significantly increased when CEOs reached the ages of 59-61. The certain age also reduced the influence of CEO duality on CEO turnover. Together, CEO ownership negatively influenced the sensitivities of the link between firm performance and CEO turnover, although the influence is insignificant when CEOs own less than 5% of firm shares. Importantly, the thesis provides the significant and positive relationship between the percentage of independent directors and CEO turnover. Based on those findings, the thesis concludes that the efficiency of corporate governance and effectiveness of management are able to improve by increasing the independence of the Board of Management rather than other factors.

Thesis (Ph. D.)--University of Hong Kong, 1985.

Made available in DSpace on 2015-03-05T19:15:18Z (GMT). No. of bitstreams: 0 Previous issue date: 3 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / Este estudo tem por objetivo evidenciar a origem e a evolução do ensino da contabilidade no estado do Rio Grande do Sul, com ênfase, a partir de 1909, na Escola de Comércio de Porto Alegre, anexa à Faculdade de Direito que, posteriormente, se tornaria a Faculdade de Ciências Econômicas da Universidade Federal do Rio Grande do Sul – UFRGS, onde surgiu o primeiro curso de Ciências Contábeis do estado. Para atingir este objetivo realizou-se uma pesquisa qualitativa, fundamentada em referências bibliográficas, jornalísticas, documentais e orais. A origem do ensino contábil no Rio Grande do Sul reporta-se ao aprendizado realizado em empresas comerciais e em órgãos militares e fiscalistas, ainda no período imperial brasileiro. Na década de 1870 verifica-se o surgimento da primeira escola a oferecer o ensino comercial, ainda como uma disciplina do ensino secundário. A partir do crescimento comercial e da organização dos profissionais contábeis no final do século XIX, o ensino, então comercial, emerge como uma nova o / This study aims to highlight the origin and development of teaching of accounting in the state of Rio Grande do Sul, with emphasis, from 1909, on School of Commerce of Porto Alegre, attached to the Faculty of Law which will then become the Faculty of Economic Sciences of Federal University of Rio Grande do Sul - UFRGS, where emerged the first course in Accounting Sciences from the state. To achieve this goal there was a qualitative research, based on bibliographic, news, documentary and oral references. The origin of accounting education in Rio Grande do Sul refers to the learning achieved in commercial companies and military and tax agencies, even in the Brazilian imperial period. In the decade of 1870 there is the appearance of the first school to offer the commercial education, even as a subject in secondary education. From the growth of commerce and organization of accounting professionals in the late nineteenth century, the teaching, then commercial, emerges as a new option for students and professionals

This masters dissertation aims at observing the influence of political and economic relationship maintained between Portugal and England in the institutionalization of English language teaching process. Given the necessity of (re)construction of the Portuguese nation, one of the first maneuvers of the Pombal s reforms was the training of businessmen. In order to implement the project of Perfect Businessman designed by the Pombal s legislation, the Portuguese School of Commerce was created, with arithmetic, mercantile writing and other related to the commercial business practice. That School has also raised the teaching of English to enable commercial transactions held with England. From the historical context and understanding of the principles of the Pombal s reforms, pieces of legislation and documents that testified about the Portuguese School of Commerce, initiated in 1759 in Lisbon and imported into Rio de Janeiro in 1846, were studied. In an effort to understand the implications of the Luso- British commercial relationship to English teaching, textbooks such as The dictionary of the Portuguese and English Language, in two parts, English and Portuguese, and English and Portuguese (1773); Grammatica Lusitano Lusitano-&-anglica anglica or New Grammatica, and Ingleza Portugueza and Portugueza and Ingleza (1751); Arte Ingleza offerecida ao Illustrissimo Visconde de Cayru (1827), and Nova grammatica ingleza e portugueza dedicada á felicidade e augmento da Nação Portugueza (1812) were analyzed to consolidate the hypothesis that the Portuguese School of Commerce was one of the most important representations of English teaching for specific purposes in the eighteenth century. / Esta dissertação de mestrado tem por objetivo principal observar os graus de influência da relação político-econômica mantida entre Portugal e Inglaterra no processo de institucionalização do ensino de língua inglesa. Diante da necessidade da (re)construção da nação portuguesa, uma das primeiras manobras das reformas pombalinas foi a capacitação dos homens de negócios. Visando o projeto de perfeito negociante idealizado na legislação pombalina, foram criadas as Aulas de Comércio, que, além de oferecer aulas de aritmética, registro mercantil e outras referentes à prática comercial, ainda suscitou o ensino de língua inglesa para viabilizar as transações comerciais mantidas com a Inglaterra. A partir da contextualização histórica e do entendimento dos princípios das reformas pombalinas, foram observadas peças legislativas e documentos que prestaram depoimento acerca das Aulas de Comércio, iniciadas em 1759 em Lisboa e importadas para o Rio de Janeiro em 1846. Com o intuito de verificar as implicações da relação comercial luso-britânica no ensino de Inglês, compêndios como A dictionary of the Portuguese and English Language, in two parts, Portuguese and English: and English and Portuguese (1773); Grammatica Lusitano-Anglica & Lusitano-Anglica ou Grammatica Nova, Ingleza e Portugueza, e Portugueza e Ingleza (1751); Arte Ingleza offerecida ao Ilustrissimo Senhor Visconde de Cayru (1827); e Nova Grammatica Ingleza e Portugueza dedicada à Felicidade e Augmento da Nação Portugueza (1812) foram analisados para consolidar a hipótese de que as Aulas de Comércio foram uma das mais relevantes representações do ensino de Inglês para fins específicos no século XVIII.