The literature on the financing of innovative projects follows two trends: one contemplates that either the prospective fundees or the potential funders use their preferences to choose the other party out of a range of theoretical possibilities; the other refers to project owners or investors that actively look for an “opportunity” and try to talk the other party into entering the funding relationship. These views, however, cannot explain several facts such as: why projects rejected by some funders are accepted by others, why IPOs and markets are not attractive to all players or why that changes over time and across settings, how can State funds support a sector across regions, or how players’ and setting features and time affect funding criteria. A critique of these explanations sees three main shortcomings: lack of balance (i.e.,one party’s initiative prevails), bias (i.e., criteria of the domineering party prevail), and disembeddedness (i.e., milieu factors and changes over time are ignored). We think that an analysis supported by a sectoral approach may contribute to build a more articulate, integral insight about the funding of innovation. The bio-pharmaceutical sector was chosen because it exhibits amazing complexity related to the heterogeneity embodied by a multifaceted network of players (e.g., universities, companies, potential financiers, regulation bodies), to the nature and development path of innovative projects, and to the competitive/collaborative interactions framed in a particular setting. Hence, a qualitative approach based on the case study of the sector is the choice for this study. Case data are collected through semi-structured interviews with thirty participants that have played different roles in organisations of the bio-pharmaceutical sector or are highly experienced VC practitioners. Our findings allow us to propose an enhanced characterisation of innovation financing by showing that: i) Investors’ understanding of a sector is essential for funding decisions and can be updated through networking; ii) Networks facilitate firms-funders contact, coordination among funders, enhancement of financiers’ knowledge about the sector, and venture owners’ knowledge of track record and potential benefits of investors; iii) Interactions involve other actors in different roles and support network-based learning; iv) Funding decisions are impacted by the geographic availability of sources/mechanisms of finance and by their readiness to fund specific venture stages; v) Investors’ specificities matter; vi) Trends of change impact the availability of funding sources/mechanisms since they imply a reorganisation of the relations and interactions among players in the sector. Therefore, we propose a systemic analytic explanation where the strategy of funders (generalist or dedicated), therefore their role in a particular setting, is essentially defined in relation to the structure and dynamics of their knowledge consolidation system; then, we derive a number of implications for firm managers, investors, and policy-makers. Finally, the main limitations of this work and some further questions for future research are stated.

The aim of thesis is clarify of the exchange rate affects on firm competitiveness. The first chapter deals with the theoretical bases of the competitiveness of companies in relation to foreign exchange rate. The second chapter deals with evaluating and measuring the competitiveness of the three selected sectors of the economy. For this purpose, the influence of the exchange rate on the competitiveness of these three sectors. This chapter is also selected company performance, which is also demonstrated by the effect of the nominal and real effective exchange rate to its competitiveness. The final part of thesis describes the assessments of opportunities and risks associated with exchange rate.

A quick and timely response to a customer request provides an important competitive advantage for a company. Experience reuse as intended by experience management facilitates an acceleration of the process of preparing offers. From a technology-oriented point of view, experience is "valuable, stored, specific knowledge that was acquired by a problem solving agent in a problem solving situation" . In the situation of creating an offer in response to a customer request, such valuable knowledge from a company’s experience might include past prices of products or services for a similar customer request. Especially in the telecommunication market such prices are volatile and depend on many impact factors such as the required technology, bandwidth of available lines, or the time period in which the telecommunication service is required. In the run-up for a large sports event, for instance, purchase prices might be significantly higher than after the event when the investment in new infrastructure has provided additional capacities and when there is less demand.

The purpose of this thesis is to examine the determinants of exit by bankruptcy in industrial sectors in Sweden. The dataset which is used gives a complete picture of the pattern of exit by bankruptcy on industry level in both manufacturing and service sectors in Sweden during the period 2004-2008. The importance of some industry structural factors such as scale economies, profitability, tangible and intangible capital intensity and industrial market growth rate for exit by bankruptcy are investigated. The use of two types of exit rates by bankruptcy (by firms and by employees) contributes to the current research. The two-way fixed effects model is used for the dependent variable of exit rate calculated by number of bankruptcies and total number of registered firms. The results show that only the long-term industrial market growth rate affects the exit rate by bankruptcy and it has a negative effect. The GLS in the two-way random effects model is used for the dependent variable of exit rate calculated by number of employees of bankruptcies. The results in this model, however, show that the existence of scale economies, more profitability, and investments in tangible and intangible capital assets all deter the number of bankruptcy.

This thesis investigates and compares the performance and characteristics of defensive and cyclical sectors on the Swedish stock market during 2003-2020 and the financial crisis in2007-2008, taking monthly price developments from nine sectors. The purpose is to examine the differences in sector performances based on the estimations of systematic risk. Using the relationship between risk and return, we aim to find the most beneficial investment strategy for investors with a long-term investment horizon and provide knowledge to investors who may want to change investment schemes during stock market crises to protect their portfolios from risk. To determine the sectors' classifications, the beta coefficient from CAPM is used. Moreover, alpha and Sharpe ratios are used as performance measures with the aim to find evidence of differences in performance between the classifications. The results show that beta is inconstant over time, and sectors behave differently depending on their dependence to business conditions, demonstrated by different patterns in beta for the two different classifications when comparing the crisis to the full period. The empirical evidence indicates that a defensive investment strategy is beneficial when considering the relationship between risk and return.

The Thesis "Securitization of Migration in Central Europe" deals with the issue of international migration in Central European countries from the perspective of Security Studies. The aim of this thesis is to point out to the prevailing security concept of this issue in selected countries of Central Europe (Czech Republic, Poland and Hungary), to find out the reasons for this approach to the migration and asylum issues and also to determine whether the security approach to the issue of migration does reflect the real situation of migration phenomenon in selected Central European countries. Through comparative analysis of the issue of migration in selected countries, this thesis verifies validity of the subsequent hypothesis: The security approach to the issue of international migration does not reflect the real situation of migration phenomenon in selected Central European countries. The variables are migration issues most often connected with the security of state and its society: illegal migration, criminality of foreigners, integration, employment of foreigners, access to the welfare benefits and demographical factors.

Between 2000 and 2011, the United States suffered the loss of manufacturing jobs 6 times faster than the rate in the 20 years prior. North Carolina ranked first in manufacturing employment in 1992; however, in 2012 it ranked fourth. The loss of manufacturing jobs created a trend away from manufacturing industries to services industries. The purpose of this study was to explore strategies that nonmanufacturing managers use to facilitate the transferable skills of displaced manufacturing workers to nonmanufacturing industries. To address the problem, a purposeful sample of 3 nonmanufacturing managers in service industries was obtained from a major manufacturing city in North Carolina. The human capital theory was used as a conceptual framework. Data for this case study were collected from face-to-face, semistructured interviews and review of company documents. Data were coded and analyzed using a qualitative analysis software to identify recurring themes. The 4 prominent themes that emerged were: (a) characteristics that displaced manufacturing workers possessed for employment in service industries, (b) workers' willingness to obtain training and education, (c) managers' specific strategies, skills, and experience for hiring displaced manufacturing workers, and (d) workers' transferable skills. The findings from this study could contribute to social change by defining strategies nonmanufacturing leaders could use to identify and transfer skills from displaced manufacturing workers to nonmanufacturing labor sectors, thereby introducing transferable skills for diverse labor sectors for increasing employment and increasing the standards of living for employees and families.

Magister Commercii - MCom / Over the 1ast eight years up to 1989, a new business phenomenon has manifested itself in South Africa. During this period, the so-ca 11ed "factory shop" concept has developed into one of the fastest growing industries in both the manufacturing and commercial sectors. In South Africa, factory shops have initially established in the Cape Peninsula.4,5. The nature of these shops is such that their creation may be attributed to the clothing industry itself ;" This trend originated in about 1980 at a few clothing manufacturers in Cape Town, inter alia, Desiree, Readywear, Atlantic Knitting Mills. Originally these factory shops were open for limited hours, I usually over lunch-time and on only one Saturday per month. They were strictly limited to and for the sole benefit of I the staff of those firms. Gradually, however, family and later friends and acquaintances of these staff members became aware of the so-called bargain prices at these stores. Both supply and demand played important roles in the development of factory shops. For example, increasing pressure on management to supply larger quantities of these merchandise items at bargain prices, as well as the fact that clothing factories had excess stock which was difficult to clear through the normal distribution channels. Factory owners recognized and seized this opportunity to reduce stock at little additional cost. From their inception, factory shops have had a significant influence on the turnover and profitability of the retail clothing industry. This trend is documented in reports by the organ i zed trade, 7 ,B where reference has been made to the influence of these factory shops and where independent clothing retailers have been calling for a plan of action for protect i on against the encroachment by these factory shops on their (the clothing retailers') markets. However, up to that stage, no in-depth study or formal research was done to justify such action for protection. The ref 0reitwa s felt that" An empirical stud y of the development of factory shops in the clothing industry in the Cape Peninsula" was needed to acquire an objective view of the state of affairs.

京都大学 / 0048 / 新制・課程博士 / 博士(情報学) / 甲第19340号 / 情博第592号 / 新制||情||103(附属図書館) / 32342 / 京都大学大学院情報学研究科社会情報学専攻 / (主査)教授 多々納 裕一, 教授 矢守 克也, 教授 守屋 和幸 / 学位規則第4条第1項該当 / Doctor of Informatics / Kyoto University / DGAM

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