Cette thèse s’attèle à déterminer les conséquences théoriques et empiriques de la considération d’indicateurs socialement responsables dans la sélection de portefeuille traditionnelle. Le premier chapitre étudie la significativité de la perte d’efficience moyenne-variance d’un portefeuille d’obligations souveraines lorsque l’on introduit une contrainte sur la notation socialement responsable moyenne des Etats. En utilisant un échantillon d’obligations d’Etats développés sur la période 1995-2008, nous montrons qu’il est possible d’augmenter sensiblement la notation socialement responsable moyenne sans perdre significativement en termes de diversification. Le second chapitre propose une analyse théorique de l’effet sur la frontière efficiente d’une contrainte sur la notation socialement responsable du portefeuille. Nous mettons en évidence les différents cas de figure pouvant se produire en fonction de la corrélation entre les rendements attendus et les notations socialement responsables et de l’aversion au risque de l’investisseur. Enfin, puisque la question de l’efficience des portefeuilles investis en fonction de critères socialement responsables fait débat dans la littérature financière, un dernier chapitre propose un nouveau test d’efficience moyenne-variance dans le cas réaliste où aucun actif sans risque n’est disponible. / This thesis aims at determining the theoretical and empirical consequences of the consideration of socially responsible indicators in the traditional portfolio selection. The first chapter studies the significance of the mean-variance efficiency loss of a sovereign bond portfolio when introducing a constraint on the average socially responsible ratings of the governments. By using a sample of developed sovereign bonds on the period 1995-2008, we show that it is possible to increase sensibly the average socially responsible rating without significantly losing in terms of diversification. The second chapter proposes a theoretical analysis of the impact on the efficient frontier of a constraint on the socially responsible ratings of the portfolio. We highlight that different cases may arise depending on the correlation between the expected returns and the socially responsible ratings and on the investor’s risk aversion. Lastly, as the issue of the efficiency of socially responsible portfolios is a central point in the financial literature, the last chapter proposes a new mean-variance efficiency test in the realistic case where there is no available risk-free asset.

The thesis deals with the reflection of human practice of the comunnity worker´s profession in socially excluded areas, which is represented by good practise and experience of community workers from two socially excluded areas, in a more profound philosophical ethical context. The human being the community worker is the most important factor in community work. Their inner maturity, cultivating inner qualities and entrenched values are besides the knowledge of community work methodology what community workers together identify as a necessary prerequisite for the success. The thesis is divided in three chapters all of which follow the line of setting a theoretical historically philosophical view in the particular practice of a community worker in a socially excluded area. In the first chapter there is an insight into the theory of virtue ethics from the ancient times to the present days, along with the virtue definition, the deconstruction of cardinal and theological virtues and it also discusses how we acquire virtues. The second chapter deals with value ethics. The author tries to answer a question what is the core of values, which one stands above all, what is the way to the meaning of values and, by extension, of a human - being, what is the value definition. It also reflects the values formed by social exclusion. In the third chapter the author tried to take a look into the ethical practice of the community worker in a socially excluded area especially by means of dilemma which was presented and analyzed there.

The unemployment is an important economic as well as social problem which has a negative influence on not only the unemployed and their family but also our society. The society is trying to face up to the unemployment through a lot of ways. Measures of the active politics of employment are one of the possibilities of an increase in the employment rate. One of the tools of the active politics of employment is a contribution toward the creation of a socially efficient self-employment job. The purpose of this thesis was to conduct a survey of problems of the tools of the active politics of employment related to a support of beginning entrepreneurs. The first partial aim was to analyse the beginning entrepreneurs supported by these tools in South Bohemia. The second partial aim was to get a feedback from the beginning entrepreneurs supported by these tools of the active politics of employment in the Pisek District in the years 2007 through 2011 about how this support from the Employment Office helped them at the start of a business. The research part first included a secondary analysis of data related to the provision of the contribution toward the creation of the socially efficient self-employment job in South Bohemia. Then the data from the respondents who had received the given contribution were gathered through the qualitative research. The research included 11 participants who concluded a contract concerning the support given to the beginning entrepreneurs in the Pisek District after 2007. The findings result in the fact that some unemployed people can assert themselves at the market only if they start a business. All respondents agreed that this contribution had helped them at the start of their business even though the amount had not been large enough for many of them. The findings of the thesis bring information on the contribution toward the creation of the socially efficient self-employment job and the analysis of the information within South Bohemia. The findings can become a base for other researches related to the tools of the active politics of employment and they can also be used as a feedback for the Employment Office of the Czech Republic.

Esta pesquisa tem como objetivo investigar a prática de formulação na fala-em-interação de uma sala de aula de inglês como língua adicional na Educação de Jovens e Adultos (EJA). Os conceitos teóricos e a fundamentação metodológica estão embasados na Análise da Conversa Etnometodológica (ACE). O conjunto de dados se constitui de cerca de 14 horas de gravações audiovisuais realizadas em uma escola estadual situada na periferia geográfica e econômica de Porto Alegre. Houve trabalho colaborativo entre a pesquisadora e a professora de inglês da escola que produziram em conjunto o material didático utilizado nas aulas. A análise dos dados evidenciou que a prática da formulação foi uma prática recorrente utilizada pela professora para conduzir a aula. As formulações auxiliaram no destaque e na exposição da construção de conhecimento realizada no grupo, bem como na checagem de entendimento e na resolução dos problemas de intersubjetividade através do reparo em terceira posição. Também foi observada e analisada a relação entre a prática de formular e a cognição socialmente compartilhada e a relação das formulações com o ensino-aprendizagem. A análise detalhada das interações revelou o engajamento dos participantes com a construção conjunta de conhecimento, revelou também essa construção sendo tornada explícita por eles na interação. / This research aims at investigating the formulating practice in talk-in-interaction at an young and adults’ (EJA) classroom in which English is taught as an additional language. The theoretical and methodological concept underlying the research is the Conversation Analysis (CA). The research collection is comprised of a fourteen-hour video recording of interactions carried out at a state school situated in Porto Alegre geographic and economics’ suburb. There was a collaborative work between the researcher and the school English teacher, they elaborated the didactic material used in class. The data analysis provided evidence that the formulating practice was a recurrent practice used by the teacher to conduct the class. The formulations helped in pointing out and explicit the construction of knowledge which was being done by the group, to check understanding and to solve intersubjectivity problems by the third position repair. It was also observed and analyzed the relation between the formulating practice and the socially shared cognition and the relation between formulation and learning-teaching. A detailed analysis of the interactions reveals the participants’ engagement to the joint construction of knowledge and it also shown this construction being made explicit by them in the course of their interaction.

Submitted by Maira Ricci null (maira.ricci@gmail.com) on 2016-04-27T02:39:32Z No. of bitstreams: 1 Versão Defesa Abril 2016.pdf: 912075 bytes, checksum: ba480013485ecf7b98bb56b1874453cf (MD5) / Approved for entry into archive by Felipe Augusto Arakaki (arakaki@reitoria.unesp.br) on 2016-04-28T16:48:40Z (GMT) No. of bitstreams: 1 ricci_m_me_arafcl.pdf: 912075 bytes, checksum: ba480013485ecf7b98bb56b1874453cf (MD5) / Made available in DSpace on 2016-04-28T16:48:40Z (GMT). No. of bitstreams: 1 ricci_m_me_arafcl.pdf: 912075 bytes, checksum: ba480013485ecf7b98bb56b1874453cf (MD5) Previous issue date: 2016-02-29 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES) / O presente estudo foi elaborado a partir de dados obtidos pela vivência da autora como licenciando bolsista do Programa Institucional de Bolsa de Iniciação à Docência - PIBID no curso de Licenciatura em Pedagogia UNESP, que atuou no ensino fundamental I em uma escola da rede estadual do interior paulista nos anos de 2011 e 2012. Dentre os vários enfoques referentes ao estudo da formação de professores, trabalho docente e práticas pedagógicas, linha de pesquisa a que se vincula esse projeto, a reflexão dessa experiência conduziu ao estudo das relações entre bolsista de iniciação à docência PIBID e professora colaboradora visando identificar os elementos formadores para a atuação docente provenientes da gestão da matéria e gestão da classe, relações estas, que a proposta do programa PIBID oportuniza pela interação entre o aprendizado adquirido na universidade e na escola de educação básica com o propósito de melhorar a formação inicial e continuada dos docentes. O estudo teve por objetivo identificar, analisar e discutir quais são os elementos formadores para atuação docente provenientes da gestão da matéria e da gestão de classe no âmbito da sala de aula, presentes nas relações pedagógicas socialmente compartilhadas entre bolsista de iniciação à docência e professora colaboradora no ensino fundamental: anos iniciais durante a participação no subprojeto PIBID Pedagogia. E verificar as influências decorrentes desse processo de socialização para a atuação e formação da bolsista de iniciação à docência e da professora colaboradora nessa troca de experiências, a partir do referencial teórico sobre as práticas pedagógicas e ações docentes discutidas por Gauthier et al., Gimeno Sacristán e Marcelo Garcia. O percurso metodológico baseou-se procedimentos alinhados à abordagem qualitativa de natureza empírica e revisão bibliográfica de estudos sobre o programa PIBID. Desse modo, o trabalho estruturou-se mediante leitura das fontes documentais que tratam do PIBID e do subprojeto investigado e, a coleta de dados por meio de entrevistas semiestruturadas individuais realizadas com uma bolsista e uma professora colaboradora. Os dados levantados foram organizados em categorias e subcategorias de análise provenientes dos processos que envolveram coleta, transcrição e a sistematização dos registros escritos das entrevistas, conforme as orientações de Laville e Dionne (1999). Com a análise dos dados foram apresentadas as principais concepções das participantes sobre as práticas pedagógicas, as tarefas didáticas específicas do ensino, a relação pedagógica socialmente compartilhada entre bolsista e professora colaboradora e as contribuições do PIBID para a iniciação à docência em Pedagogia no processo de socialização sob a perspectiva do conceito delineado de gestão da matéria e da gestão da classe. Os resultados obtidos demonstram que a hipótese inicial na qual o pressuposto de que a relação pedagógica socialmente compartilhada entre bolsista de iniciação à docência e professora colaboradora, dos anos iniciais do ensino fundamental, possibilita ao futuro professor conhecer e reconhecer os elementos formadores específicos do ensino para realizar as futuras ações docentes em sala de aula, entretanto, diante do contato com as práticas pedagógicas para a bolsista os conhecimentos são reconhecidos e aprendidos de forma parcial, fragmentada e superficial. / This study was drawn from data obtained by the experience of the author as licensing intern of the Institutional Initiation to Teaching Program - PIBID in the Bachelor's Degree in Education at UNESP, who served in the elementary school in the countryside of São Paulo state in 2011 and 2012. Among the various approaches referring to the study of teacher education, teaching work and teaching practices, research line which this project links to, the reflection of this experience led to the study of relations between initiation to teaching intern PIBID and collaborator teacher to identify the formative elements for teaching performance from the management of the subject and class management, relations that the proposed PIBID program provides an opportunity for interaction between the knowledge acquired at university and elementary school institutions with the purpose of improving the initial and continuing training of teachers. The study aimed to identify, analyze and discuss what the formative elements for teaching performance are from the management of matter and class management within the classroom, present in pedagogical relationships socially shared between fellow initiation to teaching and collaborating professor in elementary school: early years while participating in subproject PIBID education. Also check the influences resulting from this socialization process for the work and training of initiation to teaching intern and collaborating professor in this exchange of experiences, from the theoretical framework on educational practices and teaching actions discussed by Gauthier et al., Gimeno Sacristán and Marcelo Garcia. The methodological approach was based on procedures aligned to the qualitative approach and empirical literature review of studies on the PIBID program. Thus, the work was structured by reading the documentary sources that deal with PIBID and subproject investigated, and data collection through individual semi-structured interviews with an intern and a cooperating teacher. The data collected were organized into categories and subcategories of analysis from processes involving transcription and systematization of written records of interviews, according to the guidelines of Laville and Dionne (1999). With the data analysis were presented the main ideas of the participants about the pedagogical practices, the specific educational tasks of teaching, socially shared pedagogical relationship between scholar and collaborator teacher and PIBID contributions to the initiation to teaching in pedagogy in the socialization process from the perspective of the outlined concept of management matters and management class. The results show that the initial hypothesis in which the assumption that the socially shared pedagogical relationship between initiation to teaching intern and collaborating professor, the early years of elementary school, enables the teacher to future know and recognize the specific elements that form of teaching to realize future teaching practices in the classroom, however, before the contact with the pedagogical practices for interns knowledge are recognized and learned in a partial, fragmented and superficial way.

Made available in DSpace on 2016-06-02T20:30:59Z (GMT). No. of bitstreams: 1 6757.pdf: 1103934 bytes, checksum: 1e243bc6fc800e7f55079679a98ba983 (MD5) Previous issue date: 2015-03-09 / Financiadora de Estudos e Projetos / Research upon attitude s formation and change using the stimulus equivalence paradigm has shown, at the same time, a potential for the formation of new classes, and a difficulty with respect to teaching new relationships when the stimuli used are familiar and socially loaded. As racial prejudice is a problem worldwide, and stimulus equivalence paradigm has proven to be useful when studying attitude s formation and change, the aim of this study was to verify, from a systematic replication, if teaching new relations to children who showed a negative racial bias towards black people could revert the pre-existing classes. The level of 54 children s bias was assessed by the Self-Assessment Manikin (SAM), an instrument that measures the affective experience of individuals on pictures or events. The 22 participants who had attributed to black people s pictures lower levels of pleasure compared to white people s pictures also performed a second test aimed to confirm the bias shown. The 13 participants whose negative bias towards black people was confirmed were trained to match indirectly black people s pictures with positive attributes in a matching-to-sample task. Two experimenters, a black and a white one conducted the research with different children, to evaluate possible differences in the participants performance. The performances of these children were compared in two conditions: using simultaneous or delayed matching-to-sample, analyzing 1) How many children formed the expected equivalence classes; 2) in which of the two conditions the results were more robust; and 3) if the presence of white faces as a third comparison-stimuli in a modified equivalence test caused changes in the previous responses given by the participants who responded in accord with stimulus equivalence. Two instruments, a self-report and a implicit measure were used as complementary measures of transfer of functions, to evaluate the meaning of the stimuli. Results showed no differences between delayed and simultaneous matching-to-sample, or between the experimenters in the formation of the equivalence classes. All 13 participants who demonstrated a negative racial bias showed formation of the equivalence classes experimentally planned. Of those 13 children, nine have maintained their responses on the modified equivalence test, and the group data showed transfer of function, evidenced by SAM. Although there was a statistically significant difference between the pleasure levels of white and black faces before the class formation, post-test data revealed no statistically significant differences; this was also confirmed by the results of another instrument, called Implicit Relational Assessment Procedure (IRAP). Future research should recruit a larger number of participants and systematically change variables such as the use of mixed training of trained relations and the review of baseline relations, in order to identify which of them may be responsible for the positive results of equivalence. / Pesquisas sobre formação e mudança de atitudes utilizando o paradigma de equivalência de estímulos têm mostrado, ao mesmo tempo, um potencial para a formação de novas classes, e a dificuldade com relação ao ensino de novas relações, quando os estímulos utilizados são familiares e socialmente carregados. Como o preconceito racial é um problema presente no mundo todo, e o paradigma de equivalência de estímulos tem se mostrado útil no estudo da formação e mudança de atitudes, o objetivo dessa pesquisa foi verificar, a partir de uma replicação sistemática, se o ensino de novas relações de equivalência a crianças que demonstrassem ter viés negativo para faces negras reverteria as classes pré-existentes. O nível de viés racial de 54 crianças foi avaliado pela Auto-Avaliação Manikin (SAM), instrumento que mede a experiência afetiva dos indivíduos diante de imagens ou eventos. As 22 crianças que avaliaram fotos de negros com níveis de prazer inferiores aos atribuídos nas fotos de brancos realizaram um segundo teste com o intuito de confirmar o viés apresentado. Os 13 participantes cujo viés racial negativo foi confirmado foram treinados a emparelhar, de maneira indireta, fotos de negros com um símbolo positivo, a partir de tarefas de emparelhamento de acordo com o modelo. Duas experimentadoras, uma negra e outra branca conduziram a pesquisa com diferentes crianças, para avaliar possíveis diferenças no desempenho dos participantes. O desempenho dos participantes foi comparado em duas condições: com o uso de emparelhamento ao modelo simultâneo versus com atraso, analisando 1) quantas crianças formariam as classes de equivalência esperadas; 2) em qual das duas condições os resultados obtidos foram mais robustos; e 3) se a presença das faces brancas como 3º. estímulocomparação em um teste de equivalência modificado ocasionaria mudanças nas respostas prévias dadas pelos participantes que demonstraram a formação das classes de equivalência. Dois instrumentos, um de autorrelato, e outro de medidas implícitas foram utilizados como medidas complementares de transferência de função, para verificar o significado dos estímulos. Os resultados mostraram não haver diferenças entre o uso de emparelhamento de acordo com o modelo simultâneo ou atrasado, ou entre as duas experimentadoras na formação das classes de equivalência. Todos os 13 participantes com viés negativo para faces negras demonstraram a formação das classes de equivalência planejadas experimentalmente. Desses 13, nove mantiveram suas respostas no teste de equivalência modificado, e os dados de grupo evidenciaram transferência de função obtida pelo SAM. Apesar de haver diferença estatisticamente significativa entre os níveis de prazer das faces brancas e negras antes da formação das classes, os dados de pós-teste com o SAM revelaram não haver diferenças estatisticamente significativas, dado confirmado pelos resultados de outro instrumento, chamado Procedimento de Avaliação Relacional Implícita (IRAP). Pesquisas futuras devem recrutar um número maior de participantes, além de alternar sistematicamente variáveis como o uso de treino misto das relações treinadas e a revisão das relações de linha de base, de modo a identificar quais delas podem ser responsáveis pelos resultados positivos de equivalência.

Esta pesquisa tem como objetivo investigar a prática de formulação na fala-em-interação de uma sala de aula de inglês como língua adicional na Educação de Jovens e Adultos (EJA). Os conceitos teóricos e a fundamentação metodológica estão embasados na Análise da Conversa Etnometodológica (ACE). O conjunto de dados se constitui de cerca de 14 horas de gravações audiovisuais realizadas em uma escola estadual situada na periferia geográfica e econômica de Porto Alegre. Houve trabalho colaborativo entre a pesquisadora e a professora de inglês da escola que produziram em conjunto o material didático utilizado nas aulas. A análise dos dados evidenciou que a prática da formulação foi uma prática recorrente utilizada pela professora para conduzir a aula. As formulações auxiliaram no destaque e na exposição da construção de conhecimento realizada no grupo, bem como na checagem de entendimento e na resolução dos problemas de intersubjetividade através do reparo em terceira posição. Também foi observada e analisada a relação entre a prática de formular e a cognição socialmente compartilhada e a relação das formulações com o ensino-aprendizagem. A análise detalhada das interações revelou o engajamento dos participantes com a construção conjunta de conhecimento, revelou também essa construção sendo tornada explícita por eles na interação. / This research aims at investigating the formulating practice in talk-in-interaction at an young and adults’ (EJA) classroom in which English is taught as an additional language. The theoretical and methodological concept underlying the research is the Conversation Analysis (CA). The research collection is comprised of a fourteen-hour video recording of interactions carried out at a state school situated in Porto Alegre geographic and economics’ suburb. There was a collaborative work between the researcher and the school English teacher, they elaborated the didactic material used in class. The data analysis provided evidence that the formulating practice was a recurrent practice used by the teacher to conduct the class. The formulations helped in pointing out and explicit the construction of knowledge which was being done by the group, to check understanding and to solve intersubjectivity problems by the third position repair. It was also observed and analyzed the relation between the formulating practice and the socially shared cognition and the relation between formulation and learning-teaching. A detailed analysis of the interactions reveals the participants’ engagement to the joint construction of knowledge and it also shown this construction being made explicit by them in the course of their interaction.

Dans la théorie financière classique, les marchés sont supposés efficients et lesinvestisseurs sont réputés rationnels. Ils sélectionnent leurs portefeuilles sur la base deparamètres financiers définis, en fonction de leur propre aversion au risque. Avec ledéveloppement de l’Investissement Socialement Responsable (ISR) dans le milieu des années90, un vaste champ de recherche s’ouvre en sélection de portefeuilles. En effet, lesinvestisseurs intègrent des éléments extra-financiers dans leur stratégie de gestion de portefeuille, en rupture avec la théorie financière classique.Ainsi, le développement de ce nouveau type d’investissement a enthousiasmé lacommunauté scientifique et les publications académiques se sont multipliées. Cependant ces recherches se sont concentrées sur les performances des ISR des grandes places financières occidentales, avec des résultats divergents. L'objectif de cette thèse est d’approfondir l'analyse du comportement financier des fonds et indices SR issus de trois marchés émergents – Afrique du Sud, Brésil et Inde – compte tenu des risques spécifiques de ces places financières et de ces fonds, et d’apprécier leur intérêt en termes de diversification internationale des portefeuilles.Notre thèse se compose de quatre chapitres indépendants, qui suivent une certainelogique d’écriture et de composition afin de répondre au mieux à nos questions de recherche. Les deux premiers chapitres introduisent l’objet et le champ de cette étude. Ils présentent un intérêt essentiellement théorique pour conceptualiser l’objet de la recherche et contextualiser son champ d’application.Les deux derniers chapitres sont consacrés aux analyses empiriques. Les ISR y sontanalysés comme objets de performances financières pures, mais aussi comme vecteurs de diversification de portefeuille ce qui, à notre connaissance, est encore relativement absent des publications académiques. D’autre part, deux échelles de temps et d’espace ont été croisées en scindant la recherche selon les différentes phases de la crise financière de 2008, et en analysant les performances en dimensions locales et internationales. Sur le champ théorique, cette étude apporte de nouveaux éléments concernant la compréhension des ISR dans une logique interculturelle, en questionnant la perception del’éthique, les stratégies financières qui en résultent, et leurs impacts économiques. Lesrésultats empiriques ont démontré l’intérêt financier des ISR dans ces trois marchés en termesde performances et de diversification de portefeuilles, d’un point de vue domestique etinternational. / According to traditional financial theory, markets are deemed efficient and investors rational. They base the choice of their portfolios on well-defined financial parameters, following their own risk aversion. With the development of socially responsible investments (SRIs) in the middle of the 90s, a vast domain of research became available when selectingone’s portfolio. Indeed, investors integrate new elements which are out of the financial scope to their strategy of portfolio management, thus diverging from the traditional financial theory. The birth and development of this new type of investments has triggered the scientific community’s enthusiasm with more and more academic publications being written on the matter. Research has mostly tackled SRIs related to the main western marketplaces withdiverging results. The objective of this thesis is to deepen the analysis of the financial behavior of these funds and socially responsible indicators from three emerging markets – South-Africa, Brazil and India – while taking into consideration the risks specific to thesemarketplaces and funds, and to appreciate their interest in terms of internationaldiversification of portfolios.This thesis is divided into four independent sections which follow a certain logic in writing and composition in order to answer our questions in the best way possible. The two first sections will introduce the subject and domain of this research. They will mostly deal with the theoretical aspect in order to conceptualize the research’s subject and put it into context. The two following sections will focus on empirical analysis. SRIs will be analyzed as pure financial performances, but also as vectors of diversification for portfolios which is, to our knowledge, relatively absent from academic publications. Moreover, two scales were used for space and time, dividing the research according to the different phases of the 2008financial crisis and by analyzing performances following local and international dimensions. On the theoretical aspect, this study brings new elements concerning the comprehension of SRIs in a cross-cultural context, by questioning ethical perception, resulting financial strategies, and their economic impact. The empirical results have shown the financial interest for SRIs in these three markets in terms of performance and diversification of portfolios, from both a domestic and an international point of view. / Na teoria financeira clássica, os mercados são supostamente eficientes e osinvestidores supostamente racionais. Esses últimos selecionam suas carteiras de açõesbaseando-se em parâmetros financeiros definidos em função do seu sentimento de aversão aorisco. Com o desenvolvimento do Investimento Socialmente Responsável (ISR), meados dosanos 90, abriu-se um vasto campo de pesquisa em seleção de carteiras de ações. De fato, osinvestidores integram dados extra-financeiros na elaboração de suas estratégias de gestão dascarteiras de ações, rompendo, assim, com a teoria financeira clássica. O desenvolvimento desse novo tipo de investimento entusiasmou a comunidadecientífica e multiplicaram-se as publicações acadêmicas. As pesquisas concentraram-se nasperformances dos ISR nos grandes mercados financeiros ocidentais, obtendo-se entretantoresultados divergentes. O objetivo dessa tese é aprofundar a análise do comportamentofinanceiro dos fundos e índices SR nos mercados emergentes – África do Sul, Brasil e Índia –levando em conta seus riscos específicos e apreciar o seu interesse no que concerne adiversificação internacional das carteiras de ações.Nossa tese compõe-se de quatro capítulos independentes seguindo uma lógica deredação e composição afim de responder da melhor forma possível as questões da pesquisa.Os dois primeiros capítulos introduzem o objeto do campo de pesquisa. Eles apresentam uminteresse essencialmente teórico para conceituar o objeto da pesquisa e contextualizar o seucampo de aplicação. Os dois últimos capítulos são consagrados as análises empíricas. Os ISR sãoanalisados como objetos de performances financeiras puras e também como vetores dediversificação das carteiras de ações, o que, a nosso conhecimento, ainda é relativamenteausente das publicações acadêmicas. Por outro lado, duas escalas de tempo e espaço foramcruzadas dividindo a pesquisa segundo as diferentes fases da crise financeira de 2008 eanalisando as performances a nível local e internacional.No campo teórico esse estudo traz novos elementos para a compreensão dos ISRdentro de uma visão intercultural, questionando a percepção da ética, as estratégiasfinanceiras resultantes e seus impactos econômicos. Os resultados das análises empíricasdemonstraram o interesse financeiro dos ISR nos três mercados em termos de performances ede diversificação tanto no nível nacional que internacional.

This thesis aims at determining the theoretical and empirical consequences of the consideration of socially responsible indicators in the traditional portfolio selection. The first chapter studies the significance of the mean-variance efficiency loss of a sovereign bond portfolio when introducing a constraint on the average socially responsible ratings of the governments. By using a sample of developed sovereign bonds on the period 1995-2008, we show that it is possible to increase sensibly the average socially responsible rating without significantly losing in terms of diversification. The second chapter proposes a theoretical analysis of the impact on the efficient frontier of a constraint on the socially responsible ratings of the portfolio. We highlight that different cases may arise depending on the correlation between the expected returns and the socially responsible ratings and on the investor’s risk aversion. Lastly, as the issue of the efficiency of socially responsible portfolios is a central point in the financial literature, the last chapter proposes a new mean-variance efficiency test in the realistic case where there is no available risk-free asset. / Doctorat en Sciences économiques et de gestion / info:eu-repo/semantics/nonPublished

In this thesis, I deal with the Zero tolerance policy in its perspective of theory, records and application. I regard it as a disciplining policy, which leads to polarization and consequent deepening of problems in absence in of indications of social issues by their proper names. Answer to the issue of work is evidence of a practical example in a foreign surrounding and subsequent in-depth qualitative analysis of the two urban cases of region Ústí nad Labem - Duchcov and Litvínov. The data were processed by qualitative methods and techniques of sociological research in support partial statistics and hard data. This combined methodology aims to grasp the topic in the field of urban sociology and on that basis try for plasticity research based on interdisciplinarity. Based on research confirmed that the Zero tolerance policy in Duchcov and Litvínov is not recommendable manual for dealing with long-term social and deteriorating security situation. found that the appointment of politicians do not address the causes of incurred to shape the long-term problems. Furthemore been found the named policy do not address the causes of incurred to shape the long-term problems. Vice versa, reverses the logic of cause and effect - the cause of the decline in the quality of life in cities. In thus considered the...