Abstract Since the open of domestic financial market recent years, the financial products have become more and more various. In six years, there has been 2.7 funds issued every month on average. For investors, how to choose a good fund company and an appropriate fund from plenty of new offered funds is uneasy. Particularly new offered fund has no history data to examine the performance, and also lacks the regular benchmarks like £]and Sharp ratio. This thesis uses the data of the domestic stock funds which were offered over 1 year from 1997 January 1 to 2006 December 31.The data resources is from TEJ. The study will distinguish all data from whether the prospectuses regulate the funds¡¦ stock holding percentage over 70 ¢H or not. Then we want to investigate the behavior in the first year and to discuss if the fund managers¡¦ experiment will result in the abnormal performance. The study results shows that the stock holding percentage of the domestic stock funds have been over 70¢H on average since offered 3 months, but the percentage of the funds with free investment period of 3 months is less than 60¢H. However the percentage of the funds with free investment period of 6 months would rise to be 70¢H early in the second or third month. We try to use a statistic way and set a dummy variable to test whether there is different between the performance of the funds with free period and those with limited period. The result shows that there is no fund performance difference between these two period. From the second month after the fund is offered, turnover rare is close or even over the average of one year. The average level is about 30¢H and it shows the domestic stock funds have changed stocks frequently since it is offered . The tenure of Fund managers¡¦ after domestic stock funds raised is 20 months on average from 95 months to 1 month.13¢Mof fund managers will be taken place less than half year after the fund offered, 39¢Mwill be less than 1 year. 60¢Mof the fund managers have ever managed other funds before the newly one which he manage now, but 40¢Mhave no such experiment. The statistics shows that there is no significant different between fund managers¡¦ experiment and fund¡¦s abnormal returns.

Abstract Human resource is the most valuable and prominent property to a company. No matter in what aspect, human resource is fundamental to the development and implementation of programs and plans to support the overall growth of the company. Hence, how to find the most competent employees through proper sources is what the business entity needs to consider about. The sources to find qualified employees include human resource website, newspapers, schools, governmental agencies for employment services, employment exhibition, referral, and transition. Reviewing the past researchs of human resource, most of them focus on recruitment and staffing, but few to deal with referral employment. However, in Taiwan where interpersonal relationship is highly valued and recommended, the recruitment of employees through referral is very common. Therefore, this research aimed at the referral. Furthermore, the research also aimed to find out in what kind of relationship between the referral and introducer, the referral would have a preferable and better performance. Would the same working experience with the present job that referrals had serve as a critical variable affecting the performance? The results reveal that the turnover rate of referral is much lower than those hired personnel through other sources. Referrals generally have better performances at work when they were co-workers with the introducers in their former jobs. The finding also shows that referrals also have better performance when they came from the related industries related to the present jobs. Key words : performance , recruiting sources, referral, turnover rate

When employee turnover rate in a company is too high, not only it will result in the increase of cost, affecting employee morale, making negative impression on customers, but also impacting corporate performance in the long run. This research uses one of the qualitative research techniques to study the human resource management practices of the four interviewed companies, trying to identify the best practices they have in common that contribute to the decline of employee turnover rate or maintain it within acceptable level. After interviewing the four companies, two in service industry and the other two in high-tech manufacture industry, this research analyzed their human resource management practices, and found five best practices they have in common that help these four companies successfully keep employee turnover rate in control. Therefore this research concluded that a company, whether it is in service industry or high-tech manufacture industry, or whether its organizational culture is more performance-oriented or rather paternalistic, by recruiting employees through diversified approaches and selecting them by their personalities, and strongly linking performance appraisal system, reward system, promotion system and training and development system together, the synergy of the best practices all together will contribute to the decline or maintain of employee turnover rate.

archives@tulane.edu / The dissertation includes three chapters analyzing the effects of divided tax policy changes in China. Specifically, this study discusses how firms responded to dividend policy changes, answers the question of whether such policy changes helped the government achieve its goal of lowering stocks’ turnover rates/trading volumes to increase financial market stability and explores the relationship between dividend taxation and firms’ value. The data shows that firms reacted quickly after the 2005 dividend tax cut. The total cash values of dividend distributions, distribution activities, and the number of firms that initiated/increased dividend payouts all increased after the announcement of this policy change. The paper finds that firms’ behaviors, in this case, were tax-driven. By conducting difference-in-differences method and propensity score matching with a variety of matching algorithms, I find that, after the 2005 policy change, lowering the dividend tax decreased the turnover rate and the number of trading volumes by over 18% and 68 million shares, respectively. However, when I extend this analysis to the 2012 dividend tax policy change, I find that the differentiated dividend tax has nearly opposite effects. Moreover, by using a logit model and price variation model, I find that firms’ value went up after the 2005 policy change. There is no evidence showing that the 2012 policy change had such effects. / 1 / Ziqi Xie

The outsourcing business of the call center grew enormously in recent years, but there were only a few studies focused on the outsourcing employees, especially the turnover problems and related issues, which were deeply concerned by call center supervisors. This research aims to comprehend the turnover problems of the outsourcing employees; in addition, what policies the managers of the call centers adopt to solve the turnover problems. This is a one-case study. The qualitative research methodology follows the principles of the grounded theory. Eight supervisors of different call centers in the company were interviewed during April to November in 2003. The data collection and analysis is a long process of hard working. The research findings can be concluded as the following three aspects. The first is that the high turnover rates of outsourcing employees cause serious problems to various call centers. The unstable manpower quality and the lower department morale would generate inconsistent customer services. It turns out the operation costs increase as well as the outsourcing cost. Because of the strong impact to the operation in each call center, supervisors have adopted several approaches in order to solve the turnover problems in the last few years. The most significant improvement is from the following efforts, such as clarifying the basic salary and benefit for the outsourcing employees in the outsourcing contract, training the back-up personnel, and improving the management skills of the vendors. For the second aspect of the research findings, we conclude that the turnover problem is caused by the internal organizational factors and the external organizational factors. The internal factors contain the working environment associated with the climate, and the administration policy or style. The external factors include the personal concerns of outsourcing employees, and the vendor problems. Furthermore, there are two intervening conditions: employees¡¦ personality and working life quality. That would reinforce the influential factors to the turnover problem and action/interaction strategies. Finally, some of the empirical results of this research are consistent to the literatures about the call center operation. By improving recruit process, employee training and encouraging policy, it may lower the turnover rate that may result in a better quality of customer service, and then have the outsourcing cost down.

Investors should seriously assess and consider investment objects when they are proceeding domestically newly-issued equity funds investment. According to this study, the returns of domestically newly-issued equity funds are negative whether they are invested locally or overseas. If we take excess returns into account, the returns rate will be lower. General excess returns¡]systematic risk BETA¡^¡Bnet flow rate ¡]Flow¡^¡Bequity funds turnover rate¡]Turn¡^¡Baverage investment amount per person¡]AVG¡^etc. four factors are listed in this study. The past ten-year excess returns of domestically newly-issued equity funds are researched the correlationship of these variables. The empirical results show:there is a positively significant relationship risk, the higher the systematic risk is, the better the funds¡¦ performance is. Funds excess returns are positively significantly related with equity funds turnover rate; the situation represents: the more active this month investment objects are the better this month performance is. The relationship between equity funds excess returns and net flow rate is statistically insignificant; no matter what the net buying amount of this month is higher or lower than last month funds assets scale, the performance of the funds is not affected. The relationship between funds excess returns and investment amount is statistically insignificant. As far as domestically newly-issued international equity funds are concerned, funds excess returns are statistically insignificant with systematic risk, net flow rate and funds turnover rate, that is, the performance of international equity funds is not affected by domestical systematic risk, net flow rate and fund turnover rate. Funds excess return rate is negatively significantly related with the investment amount per person, that is, the bigger the net funds assets scale or the smaller the beneficiaries of the funds is, the worse the performance of the funds is. In other words, when topical news¡]for example BDI index fluctuations¡B the rise of BRICs¡B the large scale epidmic¡^ferment,the international equity funds commodity which is enjoying busy trading will result in loss in the first year-end after investing, it verifies the proverb¡XDon¡¦t go to the place where many persons gatter.

Employees choosing their employer rather than the employer choosing their employees have resulted in an increased interest of understanding what is requested among today's workforce. The growing generation of the labour market, Millennials, have been shown to create difficulties for organisations, in form of an increased turnover rate among them. In order to decrease the turnover rate, the purpose of this thesis is to provide a better understanding of Millennials’ preferences when choosing a company, and factors that would make them loyal. Previous theory state important factors that are affecting Millennials, but these are studies conducted in countries such as Canada, the USA, and India. Therefore, this thesis focuses on Millennials in Sweden. To gain a deeper understanding of Millennials’ preferences, semi-structured interviews, with non-standardised questions were held. To analyse the empirical data a thematic method was used. This made it easier to compare the data with previous literature. Findings suggest that relations with colleagues and managers are an important factor that affects both the choice of employer and the loyalty towards them. Moreover, psychological work environment, values, progress, and salary were mentioned as essential factors. Depending on the research question, the outcome differed. / På dagens arbetsmarknad har det visat sig att anställda väljer sin arbetsgivare, istället för att arbetsgivaren väljer sina anställda, vilket har resulterat i ett ökat intresse i vad som efterfrågas bland dagens arbetskraft. Den växande generationen på arbetsmarknaden, millenniegenerationen, har visat sig skapa svårigheter för organisationer, däribland genom ökad personalomsättning. Syftet med uppsatsen är att öka förståelsen för hur denna generation väljer en arbetsgivare och vilka faktorer som skulle bidra till deras lojalitet. Tidigare forskning har påvisat viktiga faktorer som påverkar millenniegenerationen, men denna forskning är främst utförd i Kanada, USA och Indien. Därför fokuserar detta arbete på millenniegenerationen i Sverige. För att få en djupare förståelse för generationens preferenser för en arbetsgivare utfördes semistrukturerade intervjuer med icke-standardiserade frågor och analyserades med hjälp av tematisk analys. Detta underlättade arbetet i jämförelsen mellan data och tidigare forskning. Slutsatserna av analysen var att relationer med kollegor och chefer är en viktig faktor som påverkar både valet av företag, samt lojaliteten mot dessa. Utöver det var den psykologiska arbetsmiljön, värderingar, utvecklingsmöjligheter och lön viktiga faktorer. Beroende på forskningsfrågan blev innebörden olika.

Liquidity risk is a large issue faced by mutual funds. Large funds typically trade in size, and these large sizes often have a significant impact on prices. My hypothesis is that large funds will not invest in illiquid assets as much as smaller funds due to the price sensitivity of illiquid assets. While this seems obvious, the results from this study are not in agreement with this hypothesis. My paper finds that as the illiquidity of a stock increases, so does the probability that a large fund invests in the stock.

Workplace turnover is destructive to organizations both financially and operationally. The cost of selecting and replacing the wrong candidate for a position ranges from a few thousand to several million dollars. The goal for this correlational study was to assess the efficacy of an applicant test instrument for identifying key personality traits of direct service professionals (DSP) in the developmental disabilities arena which correlate with successful job tenure and decrease turnover cost. The theoretical framework that grounded this study was the poor job fit theory. The population studied consisted of DSP's hired by an organization in Glynn County, GA. Anonymous candidates' data were obtained by the screening test and stratified into 2 categories: successful employees (48 of those remaining in their position for a year or longer) and unsuccessful employees (48 of those remaining in their position less than 1 year),the secondary historical data from the test instrument were analyzed via a binary multiple logistics regression model. Since inferential statistical analysis results revealed no statistical significance (at the .05 level) of any of the 5 test category variables for predicting successful employment (a year or longer) or unsuccessful employment (less than a year), The analysis revealed that the Talent Acquisition - Healthcare Services Profile - Clinical Test is not a successful screening tool for the subject population. When organizations hire the right candidates for healthcare positions, beneficial social change can occur when a higher quality of care is delivered, making a positive contribution to the lives of the caregivers, patients, and patients' families.

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