The emergence of cultural industry is strongly supported by the Chinese government. Policy support andtechnology-driven considerations have stimulatedrapid mergers and acquisitions (M&As) in China’s cultural industry. The burgeoning scale of industrial M&As, however, has not necessarily improved the quality. In the case of impending market saturation, advancing M&Asin violation of market rules may lead to bubble accumulation in the capital market. In addition, dominated by intangible assets, the cultural industry features relatively unstable products and immature industries, which can lead to a deviation in the valuation of M&A assets from the real value. Once the M&A targetexperiences operational issues, it will suffer greater losses than those brought by M&Asin traditional industries. Therefore, the cultural industry is exposed toa high valuation risk. In addition, its structure differs greatly from other industries because it has a high degree of product line differentiation, which makesit difficult for value chain coupling after companies in the cultural industry merge with other industries. There is also much uncertainty about cross-industry M&A stimulating performance. These uncertainties may hinder the growth of China’s cultural industry. Therefore, mystudy focuses on the cultural industry. This study examines the M&A performance of listed companies in China’s cultural industry through empirical analysis and provides suggestions for its development.Thisstudy first discusses the main types, characteristics,and reasons for surge in M&Asin China’s cultural industry, and then empiricallyanalyzes the M&A performance of listed companies in the cultural industry from the perspectives of stock performance and financial returns. On the one hand, based on the event studymethod, this empirical study analyzes the impacts of M&Asin the cultural industry on the short-term and long-term abnormal stock return of theactiveacquirerthrough the CAPM modelandthe Fama–French 3-factormodel; on the other hand, an empirical analysis is made on the impacts of M&Asin cultural industry on the company’s future financial return using the propensity score matchingand difference-in-difference (DID)methods.This study finds that the short-term abnormal return after the M&Asin cultural industry is iiisignificant, but not the long-term cumulative abnormal stock returns. Therefore, it is concluded that the impact of M&Asof listed companies in cultural industry on short-term abnormal stock returns is only a result of market overreaction, and the market will be rational in the long run. This study also examines whether the M&A is cross-industry or whether the acquirer is a cultural enterprise has anysignificant impact on the long-term cumulative abnormal stock returns.Concurrently, the study examines the factors leading to abnormal returns from M&As, and finds from the analysis on factors leading to short-term abnormal returns that the size of market value, the extent of valuation,and whether the company is a state-owned company have a significant impact on the short-term abnormal market returns from M&As.On the other hand, this study finds that the financial returns of sample companies have not improved after M&Asin cultural industry, but have declined instead. This is likely because the two companies cannot coordinate andmerge well after M&A, which instead increases frictions and results in a decline in financial returns.Based on the features of M&Asin China’s cultural industry and the empirical results of the decline in financial returns of listed companies after M&Asin cultural industry, this study suggests plausibleimprovementsin M&A performance of listed companies in China’s cultural industryat the level of government, intermediary agent, industry guidance and enterprise.This study hasfour chapters: Chapter 1 is the introduction, which introduces the research background, methods, significance,and related literature review. Chapter 2 introduces the current situation of M&Asin China’s cultural industryand presents an analysis of the main types and characteristics of and reasons behind the new wave of M&Asin China’s cultural industry. Chapter 3 presents the empirical analysis. Based on various empirical research methods, this study analyzes the impacts of M&Asin cultural industry on the short-term and long-term abnormal stock returns and financial returns. Chapter 4 concludesand makes suggestions for policy makers. / Business Administration/Finance

La sensibilité et la sévérité d'explosion des différents mélanges gaz/vapeur-poussière ont été étudiées grâce à des dispositifs standards (sphère de 20 L, tube de Hartmann). Les spécificités des explosions de mélanges hybrides gaz/poussière ont été mises en évidence. En fait, même pour des concentrations de gaz inférieures à la limite inférieure d'explosivité (LIE), la probabilité d'inflammation et la gravité d'explosion peuvent être considérablement augmentées, ce qui permettra notamment de conduire à de grands changements dans la détermination des zones ATEX. Il a été, par exemple, démontré que ces mélanges peuvent être explosifs même lorsque la concentration en poudre et la concentration en vapeur sont respectivement en dessous de la concentration minimale explosive et de la LIE. En outre, des effets de synergie ont été observés et la vitesse de montée en pression de mélanges hybrides peut être supérieure à celles des gaz purs. Les origines de ces spécificités ne doivent pas être recherchées dans la modification d'un paramètre unique, mais peuvent probablement être attribuées aux effets combinés sur l'hydrodynamique (propagation de la flamme), le transfert thermique et la cinétique de combustion. Des expériences ont été menées afin de souligner l'importance de chaque contribution. Basé sur des schémas cinétiques classiques à coeur rétrécissant prenant en compte des diverses contraintes lors d'une réaction non-catalytique de gaz/solide et sur des modèles de combustion homogène pour les gaz, un modèle a été développé pour représenter l'évolution temporelle de la pression d'explosion pour ces mélanges / The explosion sensitivity and severity of various gas/vapor-dust mixtures have been studied thanks to specifically modified apparatuses based on a 20 L sphere and a Hartmann tube. The specificities of gas/dust hybrid mixtures explosions have been highlighted. In fact, even for gas concentrations lower than the lower explosivity limit (LEL), the ignition probability and the explosion severity can be greatly increased, which will notably lead to great changes in the Ex zones determination. For instance, it has been shown that such mixtures can be explosive when both the dust and gas concentrations are below their respective minimum explosive concentration and LEL. Moreover, synergistic effects have been observed and the rate of pressure rise of hybrid mixtures can be greater than those of the pure gases themselves. The origins of these specificities should not be sought in the modification of a single parameter, but could probably be attributed to combined impacts on hydrodynamics (flame propagation), thermal transfer and combustion kinetics. Experiments have been carried out in order to underline the significance of each contribution. Based on classical shrinking core models taking into account the various limitations during a non-catalytic gas/solid reaction and on homogeneous combustion for gases, a model has been developed to represent the time evolution of the explosion pressure for such mixtures

Esse trabalho teve como objetivo o estudo da toxicidade aguda e crônica da ação isolada e de misturas binárias de três medicamentos veterinários (Monensina, Sulfametazina e Enrofloxacina) para o organismo teste Daphnia magna. A toxicidade aguda da enrofloxacina determinada foi de CE50 - 54.36 mgL-1, da monensina CE50 - 15.11mgL-1 e da sulfametazina CE50 - 183.80 mgL-1. Para os ensaios de toxicidade crônica foram determinados 3 \"endpoints\" (sobrevivência, reprodução e tamanho do adulto) e foi determinado o CEO para a enrofloxacina de 0,33 mgL-1, da monensina 0,09 mgL-1 e da sulfametazina de 6,8 mgL-1. Para fazer uma comparação entre os testes das substâncias isoladas e das misturas binárias foi utilizado o conceito de unidade tóxica (UT), essa comparação foi feita através da soma das UT dos ensaios individuais e comparando com os resultados dos ensaios de misturas para determinar se houve ação sinérgica, aditiva ou antagônica. O ensaio agudo de mistura monensina/enrofloxacina apresentou ação sinérgica já os ensaios monensina/sulfametazina e sulfametazina/enrofloxacina apresentaram ação antagônica. Os ensaios crônicos de mistura monensina/enrofloxacina e monensina/sulfametazina apresentaram ação sinérgica, porém não foram dosedependente e o ensaio sulfametazina/enrofloxacina apresentou ação antagônica. Com base nesse estudo é possível concluir que a mistura desses medicamentos interfere na sua toxicidade, podendo causar efeitos sinérgicos ou antagônicos / This work aims to study the acute and chronic toxicity of the isolated and binary mixtures action of three veterinary drugs (Monensin, Sulfamethazine and Enrofloxacin) for the test organism Daphnia magna. The determined acute toxicity of enrofloxacin was EC50 - 54.36 mgL-1, monensin EC50 - 15.11 mgL-1 and sulfamethazine EC50 - 183.80 mgL-1. In the chronic toxicity tests were determined 3 endpoints (survival, reproduction and adult size) and the LOEC determined for enrofloxacina was 0.33 mgL-1, monensin 0.09 mgL-1 and sulfamethazine 6.8 mgL-1. To make a comparison between the tests of isolated substances and binary mixtures it was used the concept of toxic unit (TU), this comparison was made by adding the UT of individual studies and comparing the test results of mixtures to determine whether there was a synergistic action, additive or antagonistic. The acute mixture assay monensin/enrofloxacin showed synergistic action yet the assays monensin/sulfamethazine and sulfamethazine/enrofloxacin showed antagonistic action. The chronic mixing assays monensin / enrofloxacin and monensin / sulfamethazine showed synergistic action, but were not dose-dependent and testing sulfamethazine / enrofloxacin present antagonistic action. Based on this study it can be concluded that the mixing of these drugs interferes with its toxicity, and may cause synergistic or antagonistic effect

Introdução: o sarcoma de Ewing é um dos tipo mais agressivos de câncer pediátrico. Esse tipo de câncer é um tumor primitivo neuroectodérmico, grupo que inclui ainda outros tumores pediátricos como o meduloblastoma e o neuroblastoma. Apesar de avanços significativos desde o surgimento da quimioterapia, ainda há necessidade de aumento dos índices de cura, redução da toxicidade da quimioterapia e redução da resistência ao tratamento em pacientes com essa doença. Inibidores da acetilação de histonas (HDACIs ou HDIs) e bifosfonatos têm um futuro promissor no tratamento de câncer, especialmente quando utilizados conjuntamente ou em associação com outros agentes citotóxicos, como antineoplásicos clássicos. No entanto, os efeitos destes tratamentos combinados ainda não haviam sido devidamente estudados em Sarcoma de Ewing. Objetivos: este estudo se propôs a avaliar, in vitro, os efeitos do inibidor da acetilação de histonas, butirato sódico (NaB), do bifosfonato, zoledronato (ZA), da associação destes dois agentes e de combinações dos mesmos com antineoplásicos clássicos sobre a proliferação, viabilidade e sobrevivência celular em sarcoma de Ewing. Métodos: as linhagens celulares de sarcoma de Ewing, SK-ES-1 e RD-ES, foram tratadas com NaB, ZA, doxorrubicina, etoposídeo ou vincristina e com diferentes combinações destes agentes. O crescimento tumoral in vitro, incluindo parâmetros de proliferação e viabilidade celular, foi analisado pelos métodos de contagem celular por exclusão com azul de tripan e MTT. Os efeitos tardios (sobrevivência) também foram estudados através da determinação da formação de colônias (ensaio colonogênico). Resultados: a combinação de NaB e ZA teve um efeito citotóxico sinérgico 72h após o tratamento, persistindo durante 10-14 dias após o tratamento, em ambas as linhagens celulares testadas. Todas as combinações entre NaB ou ZA e os antineoplásicos clássicos testados apresentaram efeitos citotóxicos sinérgicos 72h após os tratamentos em ambas linhagens celulares, com a exceção das seguintes associações: NaB + VCR e ZA + Doxo, que apresentaram apenas efeito aditivo nas células RD-ES, quando comparados com cada um dos agentes em monoterapia. Estes efeitos “agudos” observados em ambas as linhagens celulares de sarcoma de Ewing foram confirmados pelo ensaio clonogênico. Conclusão: os dados obtidos sugerem que o uso combinado de bifosfonatos e HDIs e a associação destes agentes com quimioterápicos clássicos representam promissoras alternativas no tratamento de sarcoma de Ewing e proporcionam a base para novos estudos. / Background: Ewing sarcoma, often referred to as Ewing’s sarcoma family tumors, is a peripheral primitive neuroectodermal tumor. Ewing sarcoma is the second most common solid bone and soft tissue malignancy of children and young adults. Despite significant advances in cancer chemotherapy, there is still need for increased rates of cure, reduction of toxicity of chemotherapy and reduced resistance to treatment in patients with this disease. Histone deacetylase inhibitors (HDACIs or HDIs) and bisphosphonates have a promising future in the treatment of cancer as targeted anticancer drugs, especially when used together or in combination with other cytotoxic agents. However, the effects of these combined treatments have not yet been properly evaluated in Ewing sarcoma. Objective: In the present study, we evaluated the in vitro cytotoxic effects (on cellular proliferation, viability, and survival) elicited by the co-treatment of sodium butyrate (NaB) and zoledronic acid (ZA) alone or in combination with three anti-cancer drugs strongly recommended to treat Ewing sarcoma (doxorubicin, etoposide and vincristine) in two human cell lines. Methods: two Ewing sarcoma cell lines, SK-ES-1 and RD-ES, were treated with NaB, ZA, doxorubicin, etoposide, vincristine and with different combinations of these drugs. The proliferation and cell viability were analyzed by counting cell in a hemocytometer, by exclusion of trypan blue and by MTT assay. The survival and proliferation of cells were also studied by clonogenic assay. Results: our results demonstrate that the combination of NaB and ZA has a synergistic cytotoxic effect at 72h after treatment, persisting for 10-14 days post-treatment, in both cell lines tested. All combinations between NaB or ZA and classical antineoplastic drugs demonstrated a synergistic cytotoxic effect at 72h post-treatment in SK-ES-1 and RD-ES cells, with the exception of NaB plus VCR, and ZA plus Doxo, which showed only an additive effect in RD-ES cells when compared to each agent alone. These acute effects observed in both Ewing sarcoma cells were confirmed by the clonogenic assay. Conclusion: These data suggest that HDIs and bisphosphonate co-treatment in combination with classical chemotherapeutic drugs is a promising therapeutic venue the treatment of Ewing sarcoma, and provide a basis for further study in this field.

Introdução: o sarcoma de Ewing é um dos tipo mais agressivos de câncer pediátrico. Esse tipo de câncer é um tumor primitivo neuroectodérmico, grupo que inclui ainda outros tumores pediátricos como o meduloblastoma e o neuroblastoma. Apesar de avanços significativos desde o surgimento da quimioterapia, ainda há necessidade de aumento dos índices de cura, redução da toxicidade da quimioterapia e redução da resistência ao tratamento em pacientes com essa doença. Inibidores da acetilação de histonas (HDACIs ou HDIs) e bifosfonatos têm um futuro promissor no tratamento de câncer, especialmente quando utilizados conjuntamente ou em associação com outros agentes citotóxicos, como antineoplásicos clássicos. No entanto, os efeitos destes tratamentos combinados ainda não haviam sido devidamente estudados em Sarcoma de Ewing. Objetivos: este estudo se propôs a avaliar, in vitro, os efeitos do inibidor da acetilação de histonas, butirato sódico (NaB), do bifosfonato, zoledronato (ZA), da associação destes dois agentes e de combinações dos mesmos com antineoplásicos clássicos sobre a proliferação, viabilidade e sobrevivência celular em sarcoma de Ewing. Métodos: as linhagens celulares de sarcoma de Ewing, SK-ES-1 e RD-ES, foram tratadas com NaB, ZA, doxorrubicina, etoposídeo ou vincristina e com diferentes combinações destes agentes. O crescimento tumoral in vitro, incluindo parâmetros de proliferação e viabilidade celular, foi analisado pelos métodos de contagem celular por exclusão com azul de tripan e MTT. Os efeitos tardios (sobrevivência) também foram estudados através da determinação da formação de colônias (ensaio colonogênico). Resultados: a combinação de NaB e ZA teve um efeito citotóxico sinérgico 72h após o tratamento, persistindo durante 10-14 dias após o tratamento, em ambas as linhagens celulares testadas. Todas as combinações entre NaB ou ZA e os antineoplásicos clássicos testados apresentaram efeitos citotóxicos sinérgicos 72h após os tratamentos em ambas linhagens celulares, com a exceção das seguintes associações: NaB + VCR e ZA + Doxo, que apresentaram apenas efeito aditivo nas células RD-ES, quando comparados com cada um dos agentes em monoterapia. Estes efeitos “agudos” observados em ambas as linhagens celulares de sarcoma de Ewing foram confirmados pelo ensaio clonogênico. Conclusão: os dados obtidos sugerem que o uso combinado de bifosfonatos e HDIs e a associação destes agentes com quimioterápicos clássicos representam promissoras alternativas no tratamento de sarcoma de Ewing e proporcionam a base para novos estudos. / Background: Ewing sarcoma, often referred to as Ewing’s sarcoma family tumors, is a peripheral primitive neuroectodermal tumor. Ewing sarcoma is the second most common solid bone and soft tissue malignancy of children and young adults. Despite significant advances in cancer chemotherapy, there is still need for increased rates of cure, reduction of toxicity of chemotherapy and reduced resistance to treatment in patients with this disease. Histone deacetylase inhibitors (HDACIs or HDIs) and bisphosphonates have a promising future in the treatment of cancer as targeted anticancer drugs, especially when used together or in combination with other cytotoxic agents. However, the effects of these combined treatments have not yet been properly evaluated in Ewing sarcoma. Objective: In the present study, we evaluated the in vitro cytotoxic effects (on cellular proliferation, viability, and survival) elicited by the co-treatment of sodium butyrate (NaB) and zoledronic acid (ZA) alone or in combination with three anti-cancer drugs strongly recommended to treat Ewing sarcoma (doxorubicin, etoposide and vincristine) in two human cell lines. Methods: two Ewing sarcoma cell lines, SK-ES-1 and RD-ES, were treated with NaB, ZA, doxorubicin, etoposide, vincristine and with different combinations of these drugs. The proliferation and cell viability were analyzed by counting cell in a hemocytometer, by exclusion of trypan blue and by MTT assay. The survival and proliferation of cells were also studied by clonogenic assay. Results: our results demonstrate that the combination of NaB and ZA has a synergistic cytotoxic effect at 72h after treatment, persisting for 10-14 days post-treatment, in both cell lines tested. All combinations between NaB or ZA and classical antineoplastic drugs demonstrated a synergistic cytotoxic effect at 72h post-treatment in SK-ES-1 and RD-ES cells, with the exception of NaB plus VCR, and ZA plus Doxo, which showed only an additive effect in RD-ES cells when compared to each agent alone. These acute effects observed in both Ewing sarcoma cells were confirmed by the clonogenic assay. Conclusion: These data suggest that HDIs and bisphosphonate co-treatment in combination with classical chemotherapeutic drugs is a promising therapeutic venue the treatment of Ewing sarcoma, and provide a basis for further study in this field.

Introdução: o sarcoma de Ewing é um dos tipo mais agressivos de câncer pediátrico. Esse tipo de câncer é um tumor primitivo neuroectodérmico, grupo que inclui ainda outros tumores pediátricos como o meduloblastoma e o neuroblastoma. Apesar de avanços significativos desde o surgimento da quimioterapia, ainda há necessidade de aumento dos índices de cura, redução da toxicidade da quimioterapia e redução da resistência ao tratamento em pacientes com essa doença. Inibidores da acetilação de histonas (HDACIs ou HDIs) e bifosfonatos têm um futuro promissor no tratamento de câncer, especialmente quando utilizados conjuntamente ou em associação com outros agentes citotóxicos, como antineoplásicos clássicos. No entanto, os efeitos destes tratamentos combinados ainda não haviam sido devidamente estudados em Sarcoma de Ewing. Objetivos: este estudo se propôs a avaliar, in vitro, os efeitos do inibidor da acetilação de histonas, butirato sódico (NaB), do bifosfonato, zoledronato (ZA), da associação destes dois agentes e de combinações dos mesmos com antineoplásicos clássicos sobre a proliferação, viabilidade e sobrevivência celular em sarcoma de Ewing. Métodos: as linhagens celulares de sarcoma de Ewing, SK-ES-1 e RD-ES, foram tratadas com NaB, ZA, doxorrubicina, etoposídeo ou vincristina e com diferentes combinações destes agentes. O crescimento tumoral in vitro, incluindo parâmetros de proliferação e viabilidade celular, foi analisado pelos métodos de contagem celular por exclusão com azul de tripan e MTT. Os efeitos tardios (sobrevivência) também foram estudados através da determinação da formação de colônias (ensaio colonogênico). Resultados: a combinação de NaB e ZA teve um efeito citotóxico sinérgico 72h após o tratamento, persistindo durante 10-14 dias após o tratamento, em ambas as linhagens celulares testadas. Todas as combinações entre NaB ou ZA e os antineoplásicos clássicos testados apresentaram efeitos citotóxicos sinérgicos 72h após os tratamentos em ambas linhagens celulares, com a exceção das seguintes associações: NaB + VCR e ZA + Doxo, que apresentaram apenas efeito aditivo nas células RD-ES, quando comparados com cada um dos agentes em monoterapia. Estes efeitos “agudos” observados em ambas as linhagens celulares de sarcoma de Ewing foram confirmados pelo ensaio clonogênico. Conclusão: os dados obtidos sugerem que o uso combinado de bifosfonatos e HDIs e a associação destes agentes com quimioterápicos clássicos representam promissoras alternativas no tratamento de sarcoma de Ewing e proporcionam a base para novos estudos. / Background: Ewing sarcoma, often referred to as Ewing’s sarcoma family tumors, is a peripheral primitive neuroectodermal tumor. Ewing sarcoma is the second most common solid bone and soft tissue malignancy of children and young adults. Despite significant advances in cancer chemotherapy, there is still need for increased rates of cure, reduction of toxicity of chemotherapy and reduced resistance to treatment in patients with this disease. Histone deacetylase inhibitors (HDACIs or HDIs) and bisphosphonates have a promising future in the treatment of cancer as targeted anticancer drugs, especially when used together or in combination with other cytotoxic agents. However, the effects of these combined treatments have not yet been properly evaluated in Ewing sarcoma. Objective: In the present study, we evaluated the in vitro cytotoxic effects (on cellular proliferation, viability, and survival) elicited by the co-treatment of sodium butyrate (NaB) and zoledronic acid (ZA) alone or in combination with three anti-cancer drugs strongly recommended to treat Ewing sarcoma (doxorubicin, etoposide and vincristine) in two human cell lines. Methods: two Ewing sarcoma cell lines, SK-ES-1 and RD-ES, were treated with NaB, ZA, doxorubicin, etoposide, vincristine and with different combinations of these drugs. The proliferation and cell viability were analyzed by counting cell in a hemocytometer, by exclusion of trypan blue and by MTT assay. The survival and proliferation of cells were also studied by clonogenic assay. Results: our results demonstrate that the combination of NaB and ZA has a synergistic cytotoxic effect at 72h after treatment, persisting for 10-14 days post-treatment, in both cell lines tested. All combinations between NaB or ZA and classical antineoplastic drugs demonstrated a synergistic cytotoxic effect at 72h post-treatment in SK-ES-1 and RD-ES cells, with the exception of NaB plus VCR, and ZA plus Doxo, which showed only an additive effect in RD-ES cells when compared to each agent alone. These acute effects observed in both Ewing sarcoma cells were confirmed by the clonogenic assay. Conclusion: These data suggest that HDIs and bisphosphonate co-treatment in combination with classical chemotherapeutic drugs is a promising therapeutic venue the treatment of Ewing sarcoma, and provide a basis for further study in this field.

Esse trabalho teve como objetivo o estudo da toxicidade aguda e crônica da ação isolada e de misturas binárias de três medicamentos veterinários (Monensina, Sulfametazina e Enrofloxacina) para o organismo teste Daphnia magna. A toxicidade aguda da enrofloxacina determinada foi de CE50 - 54.36 mgL-1, da monensina CE50 - 15.11mgL-1 e da sulfametazina CE50 - 183.80 mgL-1. Para os ensaios de toxicidade crônica foram determinados 3 \"endpoints\" (sobrevivência, reprodução e tamanho do adulto) e foi determinado o CEO para a enrofloxacina de 0,33 mgL-1, da monensina 0,09 mgL-1 e da sulfametazina de 6,8 mgL-1. Para fazer uma comparação entre os testes das substâncias isoladas e das misturas binárias foi utilizado o conceito de unidade tóxica (UT), essa comparação foi feita através da soma das UT dos ensaios individuais e comparando com os resultados dos ensaios de misturas para determinar se houve ação sinérgica, aditiva ou antagônica. O ensaio agudo de mistura monensina/enrofloxacina apresentou ação sinérgica já os ensaios monensina/sulfametazina e sulfametazina/enrofloxacina apresentaram ação antagônica. Os ensaios crônicos de mistura monensina/enrofloxacina e monensina/sulfametazina apresentaram ação sinérgica, porém não foram dosedependente e o ensaio sulfametazina/enrofloxacina apresentou ação antagônica. Com base nesse estudo é possível concluir que a mistura desses medicamentos interfere na sua toxicidade, podendo causar efeitos sinérgicos ou antagônicos / This work aims to study the acute and chronic toxicity of the isolated and binary mixtures action of three veterinary drugs (Monensin, Sulfamethazine and Enrofloxacin) for the test organism Daphnia magna. The determined acute toxicity of enrofloxacin was EC50 - 54.36 mgL-1, monensin EC50 - 15.11 mgL-1 and sulfamethazine EC50 - 183.80 mgL-1. In the chronic toxicity tests were determined 3 endpoints (survival, reproduction and adult size) and the LOEC determined for enrofloxacina was 0.33 mgL-1, monensin 0.09 mgL-1 and sulfamethazine 6.8 mgL-1. To make a comparison between the tests of isolated substances and binary mixtures it was used the concept of toxic unit (TU), this comparison was made by adding the UT of individual studies and comparing the test results of mixtures to determine whether there was a synergistic action, additive or antagonistic. The acute mixture assay monensin/enrofloxacin showed synergistic action yet the assays monensin/sulfamethazine and sulfamethazine/enrofloxacin showed antagonistic action. The chronic mixing assays monensin / enrofloxacin and monensin / sulfamethazine showed synergistic action, but were not dose-dependent and testing sulfamethazine / enrofloxacin present antagonistic action. Based on this study it can be concluded that the mixing of these drugs interferes with its toxicity, and may cause synergistic or antagonistic effect

Les tétrahydropyranes et les pipéridines sont des motifs que l'on retrouve dans de nombreuses molécules naturelles bioactives. L'intérêt pour ces familles de composés ne cesse de croître. En effet le noyau pipéridine est le troisième motif cyclique le plus retrouvé dans les molécules thérapeutiques après les noyaux phényle et pyridine alors que le tétrahydropyrane prend lui la 6ème place. Il apparaît donc opportun de développer des voies d'accès simples et efficaces afin d'obtenir de façon stéréosélective (diastéréo et/ou énantiosélective) ces motifs structuraux. Les travaux de recherche présentés dans ce manuscrit concernent le développement de deux nouvelles méthodologies de la cyclisation d'aza-Prins. La cyclisation d'aza-Prins permet par la réaction entre une amine homoallylique et un aldéhyde en présence d'un acide (Lewis ou Brønsted) la formation de pipéridine. La première a été développée pour pallier à l'absence dans la littérature de méthodologie applicable à tous types d'amines homoallyliques. Cette nouvelle méthodologie repose sur la promotion de la réaction par un effet synergétique entre un acide de Lewis (TiCl4 1 éq.) et un acide de Brønsted (p-TSA 0.1 éq.). Cette méthodologie a permis l'obtention de pipéridine avec de bons rendements et une excellente diastéréosélectivité a été obtenue selon la nature de l'amine homoallylique utilisé. La deuxième méthodologie qui a été développée permet l'aminolyse de pipéridine-lactone. Ces pipéridine-lactones, obtenues par une réaction d'aza-Prins, sont ainsi aminolysées par un acide aminé en présence d'un promoteur puissant LiNTf2. Ces deux méthodologies combinées nous ont permis d'obtenir divers motifs pipéridines. Un certain nombre de ces pipéridines synthétisées seront testées afin de mettre en évidence une éventuelle activité biologique. / Tetrahydropyrans and piperidines are cyclic motifs found in numerous bioactive natural products. Interest in these families of compounds is continuously growing. Indeed, piperidine is the 3rd most common cyclic motif found in therapeutic molecules after phenyl and pyridine structures, while the tetrahydropyran takes the 6th place. Thus the development of simple and effective methodologies to obtain these structures stereoselectively (diastereo and/or enantioselectively) is of great interest. The research presented in this manuscript concerns the development of two new methodologies for aza-Prins cyclization. These reactions involve condensation of homoallylic amines with aldehydes in the presence of a Lewis or Brønsted acid to give piperidine compounds. The first method was promoted by a synergistic combination of a Lewis acid and a Brønsted acid and employs N-alkyl, N-aryl, and unprotected homoallylamines to efficiently form piperidines with good yields and excellent diastereoselectivity, which was controlled by the nature homoallylamine. The second method allows piperidine-lactone aminolysis in presence of aminoacids with the help of a powerful promoter LiNTf2. These two combined methodologies allowed us to obtain a library of piperidine structures, some of which will be tested in order to assess their possible biological activity.

The objective of this thesis is to determine value of the Spa Aurora after the merger with Berta´s spa by DCF method and synergistic effect of the merger. The thesis is devided into the theoretical and the practical part. The theory focuses on theoretical and methodological resources for the practical part. It deals with the company appraisement, strategic and financial analysis, appraisement methods and merger. Single companies and project of the merger are introduced by the pratical part. Strategic analysis focuses on micro and macroenviroment impacts on the spa companies. Financial analysis is done using the absolute and relative indicators. Financial plans of the both spa´s and acquiring company were created for the appraisement needs. The final step is comapines appraisal by DCF method and determination of the synergistic effect of the merger. In conclusion, the major outcomes are summarized.

The master’s thesis aims to evaluate the existence of the financial synergistic effect concerning consolidating companies in the construction industry area. For this purpose three appropriate financial indicators, which are to be calculated separately for the parent company and the concern, will be proposed. The subsequent comparison of these values will enable us to determine if the positive financial synergistic effects were achieved in the researched area.