Through a study of the history and performance of successive military regimes, this thesis examines the role of military governments in economic development, particularly the creation of a market-enabling environment in Nigeria. The key question underlying this research is: did the policies formulated and implemented by the different military governments accelerate or decelerate economic, and concomitantly markets developments in Nigeria? Essentially, an evaluation of the military governments (1966-1999), is undertaken to determine the nature of the linkage, if any, between regimes and economic and market development policies. Also evaluated are two civilian governments within the relevant period, and only as a reference point to more effectively identify the military's role in economic development. Regime profile outlines the scope and economic effects of policies; case studies of the individual regimes illustrate the underlying reasons for economic underperformance. Measured in real terms and relative to its contribution to the welfare of the average citizen, the study shows that successive military governments' relative economic development achievements are not commensurate with the magnitude of resources expended. Indeed that the decades of military regimes have not seen, in real terms, any significant improvements in the distribution of national income and wealth. Indications also are that the military structure and its paternalistic policy accommodation account for much of the pervasive corruption found all through the regimes. Also identified is the role of the institutional civil service in policy formulation and implementation.

Shareholders can utilize internal and external governance mechanisms to minimize agency costs. Internal governance mechanisms purport to improve the alignment between shareholders' interests and those of management by empowering the board of directors, setting value-maximizing compensation packages, employing leverage, and using other internal policies. Extensive discussion on corporate governance and regulations has motivated financial experts to conduct research on governance mechanisms and their relations to firm value. This study is focused on one particular aspect of corporate governance, which is executive compensation. Specifically, this study investigates executive compensation restrictions during the regulatory period and their effect on the performance of firms that received Troubled Asset Relief Program (TARP) funds. TARP is a U.S. government program intended to restore the U.S. economy by purchasing assets and equities from troubled institutions. This study is important since it showcases the efficacy of government regulations to revamp unsound executive compensation and governance practices. It also contributes to the governance and regulatory literature by showing whether the public and shareholders benefit from the compensation rules. Using a clean sample of 84 public TARP firms that received at least $50 million from the government, with the period of analysis from 2003 to 2010, I find that firm performance is positively and significantly related to total compensation as well as to both of its components, i.e., equity-based pay and cash-based compensation. However, the magnitude of the relationship between cash compensation and firm performance is much lower than that for equity-based compensation. Testing the pay-for-performance sensitivity in three sub-periods of analysis, the findings show that the relationship between executive compensation and firm performance was significantly positive in the pre-crisis period. However, during the financial crisis and the regulatory periods, this relation was not statistically different from that during the pre-crisis period. During the crisis period, TARP firms did not make necessary adjustments to executive compensation despite the fact that they had been faced with financial difficulties. I also find that the change in firm value is negatively and significantly related to the change in total compensation for TARP firms that have paid back their debts to the government by December 11, 2009, but this relation is less negative than that for TARP firms that have not repaid the bailout money.

Submitted by Oliveira Santos Dilzaná (dilznana@yahoo.com.br) on 2016-05-06T15:15:36Z No. of bitstreams: 1 Dissertação de Carlos roberto Santos Maciel.pdf: 1866311 bytes, checksum: cd6b432a83809cd9c9ec42efef48cd53 (MD5) / Approved for entry into archive by Oliveira Santos Dilzaná (dilznana@yahoo.com.br) on 2016-05-11T13:12:15Z (GMT) No. of bitstreams: 1 Dissertação de Carlos roberto Santos Maciel.pdf: 1866311 bytes, checksum: cd6b432a83809cd9c9ec42efef48cd53 (MD5) / Made available in DSpace on 2016-05-11T13:12:15Z (GMT). No. of bitstreams: 1 Dissertação de Carlos roberto Santos Maciel.pdf: 1866311 bytes, checksum: cd6b432a83809cd9c9ec42efef48cd53 (MD5) / O presente estudo tem como objeto de pesquisa a riqueza de moradores de Lagarto e Boquim/SE, no período compreendido entre 1850-1888, além da análise da formação das fortunas, observando de que maneira as permanências e transformações da economia regional contribuíram para a construção dessa riqueza e a partir dos valores das fortunas elaboramos uma classificação socioeconômica dos inventariados, assim como analisar as atividades que geraram maiores níveis de riqueza. Tivemos ainda a intenção de compreender a dinâmica da economia dessa região, provocada pela expansão da cana no decorrer de meados do século XIX e como tal processo contribuiu para o aumento das fortunas locais. O crescimento do setor canavieiro levou ao aumento dos cultivos de subsistência e da criação de gado para alimentar a crescente população livre e escrava do período. Destarte, essa expansão provocou um maior dinamismo econômico e social, favorecendo um aumento das fortunas. Havia uma desigualdade social mostrada a partir da concentração de riqueza, sobretudo nas mãos dos grandes senhores de engenho locais, seguidos de comerciantes, criadores e lavradores. Esses afortunados buscaram não apenas riquezas, mas também prestígio e poder dentro da sociedade regional e provincial. The present study has as research’s object the residents’ wealth of Lagarto and Boquim/ SE in the period between 1850-1888, and it aims at the analysis of the formation of fortunes, observing how the continuities and transformations of regional economy contributed to the construction of this wealth and from the fortunes’ values elaborate a socioeconomic classification of inventoried, as well as analyze the socio-economic activities that generated higher levels of wealth. And also our intention was to better understand the economy’s dynamic of this region, caused by the expansion of sugar cane during the mid-nineteenth century and as such contributed to the increase in local fortunes. The growth of the sugar cane sector has led to increased subsistence cultivations and breeding cattle to feed the growing population free and slave of the period. Thus, this expansion led to greater economic and social dynamism, favoring an increase in the wealths. There was a social inequality shown from the wealth’s concentration overcoat in the hands of the great masters of local mills, followed by traders, breeders and farmers. These fortunate searched not only wealths but also prestige and power within society. Keywords: Lagarto – Boquim– Economy – Society – Wealth.

abstract: By matching a CEO's place of residence in his or her formative years with U.S. Census survey data, I obtain an estimate of the CEO's family wealth and study the link between the CEO's endowed social status and firm performance. I find that, on average, CEOs born into poor families outperform those born into wealthy families, as measured by a variety of proxies for firm performance. There is no evidence of higher risk-taking by the CEOs from low social status backgrounds. Further, CEOs from less privileged families perform better in firms with high R&D spending but they underperform CEOs from wealthy families when firms operate in a more uncertain environment. Taken together, my results show that endowed family wealth of a CEO is useful in identifying his or her managerial ability. / Dissertation/Thesis / Doctoral Dissertation Business Administration 2018

O presente trabalho tem como objetivo elucidar a atuação de um agente particular, no papel de credor, no conjunto da complexa cadeia de financiamento da cafeicultura: trata-se do Cel. Christiano Osório de Oliveira, de São João da Boa Vista, no interior do Estado de São Paulo, entre 1890 e 1937. A investigação, centrada na exclusiva atuação desse negociante de dinheiro, possibilitou conhecer mais claramente, em seus meandros, o mecanismo de fornecimento do crédito, no período enfocado, e nas regiões e localidades em que esse personagem desempenhou essa função. Permitiu, também, revelar aspectos de sua trajetória e singular transformação, desde fazendeiro a banqueiro, e, posteriormente, comissário de café no porto de Santos. O spot centrado nesse indivíduo gerou a oportunidade de se compreender, mais detidamente, o processo de formação, expansão e diversificação da riqueza cingida ao grande capital cafeeiro paulista. A análise revelou, além das principais modalidades creditícias da época, a hierarquização existente entre os agentes que atuavam nas teias do crédito. A pesquisa pautou-se pelo exame de dois blocos documentais convergentes: o primeiro, caracterizado por documentação privada e original, deixada pelo Cel. Christiano Osório de Oliveira; e, o segundo, constituído por fontes cartoriais referentes ao custeio e/ou plantação de café das propriedades rurais, via hipoteca e penhor agrícola. Em suma, busca-se contribuir para a discussão acerca do papel desempenhado pelo grande capital cafeeiro na diversificação econômica paulista, sob o enfoque do crédito na economia cafeeira. / This study aims to elucidate the performance of a specific agent, as creditor, throughout the complex financing chain of coffee: Col. ChristianoOsório de Oliveira, from São João da Boa Vista, São Paulo, between 1890 and 1937. The investigation, focused on the unique function of thismoney dealer, allowed us to know more clearly, in its intricacies, credit providing mechanism, on the present period and in the regions and localities where this character has played his role. It also allowed us to reveal aspects of his history and unique transformation, from farmer to banker, and later coffee Commissioner in the port of Santos. The spot centered on this subject has created an opportunity to understand, in greater detail, the process of formation, expansion and diversification of wealth that surrounded great coffee capital of São Paulo state. Analysis has revealed, besides the main lending modalities of time, the existing hierarchy among the agents who had worked in the credit webs. The research has been guided by examining two converging documentary blocks: the first, characterized by private and unique documentation left by Col. Christiano Osório de Oliveira; and the second consisting of notary sources for the funding and / or coffee plantation of farms, via agricultural mortgage and pledge. In short, we search to contribute to the discussion about the role of great coffee capital at economic diversification in the state of São Paulo, under the credit approach on coffee economy.

Orientador: Ana Rosa Ribeiro de Mendonça Sarti / Dissertação (mestrado) - Universidade Estadual de Campinas, Instituto de Economia / Made available in DSpace on 2018-08-24T23:24:22Z (GMT). No. of bitstreams: 1 Brochier_Lidia_M.pdf: 3190323 bytes, checksum: d46e07799ae60da372ad254cbad3051f (MD5) Previous issue date: 2014 / Resumo: O consumo pessoal, dentro da tradição keynesiana, costuma ser entendido como uma função estável da renda, constituindo o elemento passivo e previsível da demanda agregada. Sabe-se que o investimento é o elemento mais instável da economia, sujeito frequentemente a flutuações e alterações imprevistas. Contudo, as transformações verificadas nas economias capitalistas, a partir do processo de financeirização, também originaram modificações no consumo e no papel ocupado por essa variável na economia ¿ podendo funcionar como motor ativo de expansão dos gastos. Logo, pretende-se analisar nesta dissertação como o consumo é entendido pelas teorias convencionais do consumo e mostrar seus limites e contribuições para apreender a evolução recente do consumo pessoal, dado que esse se mostra crescentemente vinculado ao crédito, ao endividamento e à dinâmica de valorização dos ativos. Além disso, objetiva-se examinar como as principais questões relacionadas à financeirização afetam o consumo das famílias nos Estados Unidos. Essas questões são: as inovações financeiras (e as inovações no mercado imobiliário), o efeito riqueza, o processo de estagnação das rendas, a política monetária e o papel desse país na economia mundial. Por fim, analisam-se fatos estilizados sobre o consumo pessoal, do ponto de vista macroeconômico, a fim de verificar as evidências de um consumo financeirizado na economia estadunidense. Essa dissertação divide-se em três capítulos. No primeiro capítulo é feita a revisão das teorias do consumo. Os autores incluídos nessa revisão são: Keynes, Duesenberry, Modigliani, Friedman, Kalecki e Minsky; no segundo capítulo, faz-se uma breve contextualização histórica do processo de desregulamentação bancária e financeira e os principais pontos referentes à financeirização do consumo são abordados ¿ primeiramente a partir da conceituação teórica e num segundo momento a partir do processo histórico; no capítulo três discutem-se os dados do consumo em torno de três eixos: a renda, a riqueza e o crédito e o endividamento das famílias. O período compreendido por essa análise vai da década de 1980 até a crise financeira de 2007-9, com ênfase em alguns acontecimentos referentes a essa última. Destacam-se ao longo da dissertação a importância do crédito e da variação dos preços dos ativos para moldar o consumo entre o final do século XX e o início do século XXI e a inflexão do padrão de crescimento exposta pela crise financeira nos Estados Unidos / Abstract: Personal consumption, within Keynesian tradition, is usually understood as a stable function of income, composing the passive and predictable element of aggregate demand. As known, investment is the most unstable component of the economy, exposed more often to fluctuations and unforeseen changes. However, modifications verified in capitalist economies, brought about by financialization process, also originated changes in consumption and its role in the economic system ¿ working, then, as an active engine of expenditure expansion. Therefore, this thesis intends to analyze how consumption is understood by conventional consumption theories and show its limits and contributions to apprehend the recent personal consumption evolution, since it reveals itself increasingly connected to credit, indebtedness and asset valuations. Besides, this work aims at discussing how the main issues related to financialization exert influence over household consumption in the United States. These issues are: financial innovation (and real estate innovation), wealth effect, income stagnation process, monetary policy and the role of this country in international economy. At last, stylized facts about personal consumption, from macroeconomic point of view, are explored to find the evidences of a financialized consumption in the American economy. This thesis is divided into three chapters. In the first chapter, a review of consumption theories is performed. The authors included in this review are: Keynes, Duesenberry, Modigliani, Friedman, Kalecki and Minsky; in the second chapter, attention is drawn to a short historical contextualization of bank and financial deregulation and the core points referring to consumption financialization are addressed ¿ starting from theoretical conceptualization and going through the historical process; In chapter three data on consumption are discussed around three axes: household income, wealth and credit and indebtedness. The analysis comprehend the period that goes from the 1980s until the financial crisis of 2007-9, emphasis lays on the last crisis events. Throughout the thesis, credit and assets valuations importance to shape consumption between the end of twentieth century and the beginning of twenty-first century and the turning point of the growth pattern uncovered by the financial crisis in the U.S. are highlighted / Mestrado / Teoria Economica / Mestra em Ciências Econômicas

Sovereign Wealth Funds (SWFs) have enjoyed a great deal of public debate among scholars and policy makers alike in recent times. This increased attention can be associated with the swelling size and number of SWFs. In the last decade, there has been a sharp increase in the number of SWFs and they have become notable players in the world financial markets due to the soaring commodity prices and global imbalances. Currently, SWFs have more assets under management (in USD) than hedge funds. Buoyed on by the recent discoveries of natural resources in Africa and relatively high commodity prices, Africa has joined the international trend of SWF establishment and is home to nine SWFs, three of which were established between 2011 and 2012 alone. There is limited evidence and theory around the impact of SWFs on the economy of the host nation, mainly due to lack of transparency associated with SWFs. Supporters of SWFs claim that they have a positive effect on their host nation’s economies. Employing selected macroeconomic variables, this study looks at the impact of the introduction of a SWF on the host nation’s economy. Evidence shows a positive impact. / Dissertation (MBA)--University of Pretoria, 2013. / pagibs2014 / Gordon Institute of Business Science (GIBS) / MBA / Unrestricted

Magister Artium - MA / Our time has been called the age of economics; the social philosopher Edmund Burke first used this term to characterize the eighteenth century, which was his own century and also the century of Adam Smith, but this expression has since become even more appropriate. While in the middle ages the beliefs that divide society and set large blocks of people at war with each other were theological in nature, in our time the great ominous divide between peoples is based on differing philosophies of economics (Lux, 1990:1). Economists are now key advisors to governments, presidents, prime ministers, and even autocrats and dictators, in addition to their obvious and expected place in the world of business, banking, and finance. The celebrated twentieth-century economist John Maynard Keynes gives an apt description of the influence of economics in our time: “The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood.” (Lux, 1990:1). The analysis presented in this study spreads over four chapters followed by a concluding chapter and the bibliography. For the full understanding of the need of this analysis and where it comes from; the methods that are followed; the literature used; the normative framework for evaluating the different systems, a brief survey is presented in the first chapter. The second chapter argues the need for an economic system that functions economically and morally; one that satisfies the criteria set by the widely accepted theory on justice by John Rawls. An analysis of the advantages and disadvantages, but especially the moral and practical shortcomings, of the current dominating global system, Capitalism, based on short-term human vision and planning, and a preliminary critical moral assessment thereof, is given in chapter three. The fourth chapter briefly presents the Islamic economic system as a possible alternative, more reliable, economic system, claiming to depend on divine knowledge. The strengths of this system are pitted over against the shortcomings identified in Capitalism and the possible viability of the Islamic system is tested against the criteria of John Rawls’ theory of justice. The concluding fifth chapter summarises the outcomes of the investigation and presents some recommendations for a viable economic philosophy and system for the future. / South Africa

In this thesis, Personal and family finances, subtitled Finances of university student. It is discussed on the way to a happier life through management of personal finances. Just as it is necessary to control corporate finance, it is necessary everyone managed own personal finances. It is indicated as appropriate to tackle your finances,what to focus on, and it's practically demonstrated on the example of a university student. There are analyzed his goals and needs, then it is outlined possible solutions to his finances.

This research focuses on the relationship between branding and company share price. This research’s purpose is to investigate the impact of branding indicators on a company share price. There has been a lot of research that has evidenced a positive relationship between marketing, of which its core component is branding, and firm performance. Even though it has been evidenced that strong branding leads to firm performance, stock analysis literature has not taken into consideration branding indicators as a key component in predicting the future performance of a company’s share price. This research addresses insights on the direct relationships between branding and share price values, which has not been extensively studied. Literature reviewed outlined three important measures of brands which offer a view of the future performance of a brand. These brand performance measurements are brand value, brand ranking and brand ratings. These are measures which are publicly available and have been measured over time. The research utilised data from Brandentity which is a brand valuing organisation which reports brand performance annually. The research investigated the impact of the change in brand value, brand ranking and brand ratings on company share price. The investigation shows brand rating as the only brand indicator tested that significantly positively impacts a company share price. This was found to mainly be because its orientation is competitor’s performance and future brand performance. Brand value and Brand rankings were found to have no significant impact on a company share price. The research thus concludes that brand indicators have a positive impact on a company share price and therefore brand measurements should be used as part of stock analysis to predict future performance of a company share price. / Dissertation (MBA)--University of Pretoria, 2014. / zkgibs2015 / Gordon Institute of Business Science (GIBS) / unrestricted