Dissertations / Theses on the topic 'Capitali europee'
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Vallati, Ludovica <1997>. "Capitali Italiane della Cultura e Capitali Europee della Cultura - progetti per lo sviluppo economico e culturale." Master's Degree Thesis, Università Ca' Foscari Venezia, 2021. http://hdl.handle.net/10579/20431.
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L'elaborato vuole indagare i ritorni economici e sociali delle due manifestazioni "Capitale Italiana della Cultura" e "Capitale Europea della Cultura". Si analizzeranno i due percorsi che hanno portato alla creazione delle manifestazioni, i diversi processi di selezione ed i diversi meccanismi di sostegno economico. Nel secondo capitolo si farà una rassegna delle teorie economiche a sostegno delle manifestazioni culturali e della rigenerazione urbana ed economica con al centro la cultura, analizzando anche le criticità sollevate a riguardo dagli studiosi. Nel terzo capitolo si analizzeranno due case study relativi alle precedenti Capitali Italiana della Cultura, ossia Pistoia 2017 e Palermo 2018, focalizzando l'attenzione sul dossier di candidatura, analisi delle attività portate a termine durante la manifestazione ed analisi dei ritorni economici registrati post manifestazione. La stessa metodologia verrà adottata nel quarto capitolo dove si analizzerà la Capitale Europea della Cultura Matera 2019.
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Zanatta, Alessandra <1992>. "Capitali Europee della Cultura come possibilità di cambiamento dell’immagine turistica: il caso San Sebastian." Master's Degree Thesis, Università Ca' Foscari Venezia, 2018. http://hdl.handle.net/10579/12567.
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Il titolo di Capitale Europea della Cultura porta con sé numerose responsabilità e possibilità, in primis la città eletta avrà l’occasione per un intero anno di poter accrescere la conoscenza e la popolarità del luogo attraverso iniziative culturali di ogni tipo. Dalla nascita del progetto Capitale Europea della Cultura fino al 1999, le città designate dal titolo erano per lo più già affermate a livello culturale - turistico e proponevano perciò eventi culturali senza tener conto delle ricadute a lungo termine. Successivamente, dal 2000 in poi, vennero scelte città non sempre note al grande pubblico in ambito turistico, ma che comunque possiedono un background culturale degno di nota.
Un’eccezione di questi ultimi anni è San Sebastian, eletta Capitale Europea della Cultura per l’anno 2016, assieme a Breslavia. La città spagnola gode di una conoscenza turistica già abbastanza elevata, soprattutto grazie al turismo marittimo. La questione che si pone è se è possibile per una città sfruttare il titolo di Capitale Europea della Cultura per poter modificare e/o sviluppare l’immagine turistica che già possiede.
Prendendo d’esempio proprio San Sebastian si analizzerà il progetto culturale offerto durante tutto l’anno in questione, con lo scopo di evidenziare come ciò che rende questa località spagnola nota al turismo internazionale non venga preso in considerazione per il progetto Capitale Europea della Cultura 2016, puntando quindi a siti non noti al turista medio che si reca a San Sebastian. Tutto questo è stato progettato con un’ottica di investimento a lungo termine, in quanto, portare a conoscenza luoghi non solitamente visitati dai viaggiatori, aiuterà ad avere negli anni successivi un incremento del turismo culturale.
Verranno di conseguenza confrontate le politiche per il turismo utilizzate negli anni precedenti per la promozione di San Sebastian con quelle attuate durante l’anno Europeo della Cultura. Dai dati pubblicati dalla società San Sebastian Turismo – Donostia Turismoa S.A., si esamineranno i risultati statistici del 2016 ed il conseguente incremento delle visite nei periodi in cui, normalmente, il turismo a San Sebastian è limitato, in quanto meta per lo più estiva.
Dato che il progetto San Sebastian Capitale Europea della Cultura 2016 è terminato da breve tempo, quindi eccessivamente recente per poter assistere ed analizzare il possibile successo del progetto, quest’ultimo verrà paragonato con quello di Riga. Riga, capitale della Lettonia e Capitale Europea della Cultura 2014, gode anch’essa di una conoscenza turistica elevata, quindi, anche in questo caso, parte degli eventi sono stati organizzati in siti distanti da quelli già noti. Da questo confronto si potrà così ipotizzare se il progetto San Sebastian 2016 potrà o meno avere successo negli anni a venire, basandosi sui dati di un progetto simile.
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Callegari, Francesca <1990>. "Il ruolo delle Capitali Europee della Cultura nello sviluppo turistico delle destinazioni: il caso Mons 2015." Master's Degree Thesis, Università Ca' Foscari Venezia, 2015. http://hdl.handle.net/10579/6754.
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Con l’incremento dell’offerta di destinazioni turistiche, la differenziazione culturale gioca un ruolo considerevole al fine di migliorare il posizionamento delle Dmo. Il progetto Capitali europee della cultura si offre come strategia di vantaggio competitivo, rivalutando la ricchezza dei territori e il contributo della cultura nello sviluppo turistico delle città. Partendo da un’analisi della letteratura e comparando i dati riguardanti l’impatto sui flussi turistici ricavati dalle precedenti esperienze, si affronta il caso di Mons 2015. I risultati emersi sono utili a comprendere il percorso di valorizzazione creativa, considerandolo un valido strumento delle politiche europee di sviluppo economico.
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Visintin, Isotta <1991>. "Il tema della trasparenza e della fruizione dei dati economico - finanziari nel settore museale: il caso dei musei d’arte pubblici delle capitali europee." Master's Degree Thesis, Università Ca' Foscari Venezia, 2016. http://hdl.handle.net/10579/7765.
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Il concetto di Trasparenza e la filosofia Open Data si configurano come elementi essenziali, nel contesto delle pubbliche amministrazioni, nel favorire la fiducia del pubblico nei confronti dell’istituzione.
L’elaborato intende presentare tali concetti, e la relativa normativa di settore, al fine di indagarne l’applicazione in ambito museale. Per i musei difatti la trasparenza assume rilevanza strategica nel determinare la soddisfazione degli stakeholders, il controllo e la gestione dell’ente.
Specificatamente viene indagata la trasparenza economico – finanziaria e, tramite il reperimento e l’analisi dei dati contabili propri di una selezione di musei pubblici europei, si intende verificarne l’effettiva accessibilità da parte del pubblico, la comunicazione degli stessi da parte dell’ente ed i vantaggi di politiche trasparenti.
Si analizzano dunque gli strumenti che consentono l’effettiva applicazione di comportamenti trasparenti, e si discutono le ricadute positive che questi presentano tanto internamente quanto esternamente rispetto all’ente museale, anche grazie a sistemi propri del settore privato, la cui adozione ha portato a parlare di “aziendalizzazione del museo”.
Viene trattato, infine, il tema delle statistiche culturali per individuarne le problematiche connesse al settore museale: la disponibilità e la standardizzazione dei dati, economico –finanziari e non solo, consentirebbero la realizzazione di statistiche su scala internazionale che, permettendo la comparabilità dei dati, sarebbero uno stimolo positivo per la gestione e la valutazione della performance museale.
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Campagna, Desirée. "The Impacts of Participatory Governance on Cultural Development: Evidence from European Capitals of Culture." Doctoral thesis, Università degli studi di Padova, 2019. http://hdl.handle.net/11577/3422217.
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Participatory approaches to cultural decision-making are increasingly supported in the international and European discourses as means to foster cultural development, promoting capacity building, legitimacy, and social capital. However, their beneficial effects are both empirically contradictory and theoretically under-investigated.
With the aim of providing an evidence-based account of the function of participatory decision-making in culture, this thesis analyses how, why, and under which circumstances participatory governance impacted on cultural development in four projects promoted in the two European Capitals of Culture of 2013 - Marseille-Provence (France) and Košice (Slovakia) –under the umbrella of the “City and Citizens” criterion.
The thesis combines the theoretical assumptions of the “expansive” theories of democracy (Warren, 1992) with the “pragmatic conception” proposed by Fung (2007) and adopts the methodological tools offered by the theory-testing variant of process tracing. Hence, it advances an analytical framework of causal mechanisms able to explain how and why the impacts of participatory governance of culture can change within different contextual conditions.
This work defines cultural development as a long-term process that includes cultural production and reception and is sustained by a network of cultural relations. In addition, it conceptualizes participatory governance as a three-dimensional institutional space (including representation, communication, and power delegation) that can trigger developmental dynamics thanks to consensus-oriented face-to-face dialogue among a variety of cultural stakeholders.
Referring to the empirical evidence collected in the four case studies, the thesis argues that the impacts of participatory governance on cultural development depend on the intensity of trust that is reached among the actors involved in the process.
In presence of fully-fledged trust, as showed in the project PARCeque (Marseille) and in the Exchanger Obrody (Košice), participatory governance can lead to cultural development, activating a reinforcing chain of capacities, legitimacy, and social capital that nurture cultural relations in the long-term. On the contrary, in absence of fully-fledged trust (i.e. mistrust and “calculus-based” trust), as proved by the project Jardins Possibles (Marseille) and the Exchanger Važecká (Košice), participatory governance of culture can exacerbate feelings of manipulation or group dynamics, fostering contestation movements or isolated cultural production.
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Lönegren, Lovisa. "The European Green Capital Award - Towards a sustainable Europe?" Thesis, Malmö högskola, Fakulteten för kultur och samhälle (KS), 2009. http://urn.kb.se/resolve?urn=urn:nbn:se:mau:diva-23912.
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Today a grand majority (around 80%) of the European citizens live in cities or towns. Europe is more urbanised than ever. Contemporaneously, climate change and global warming is an increasing threat worldwide. In 2006, the European Commission of the European Union (EU) therefore launched the idea of implementing the yearly European Green Capital (EGC) award. The aim was (and still is) to create role models by promoting cities that constantly take strong actions for the environment and thereby inspire other cities to make green choices too. In February 2009 the first two EGC winners were announced: Stockholm (Sweden) 2010 and Hamburg (Germany) 2011. The question is whether an award of this kind is the right method for the EU to deal with environment issues. If not, the EU should invest its resources elsewhere. This thesis aims at evaluating the EGC by looking closer at Stockholm as the EGC winner of 2010 and by analysing the impacts the EGC title has on Sweden’s EU Presidency the second half of 2009. The ecological modernisation theory reconciles economic growth and environmental protection, and provides several relevant features and aspects to this thesis regarding sustainable development, voluntary approaches and environmental policy-making. By applying the theory on the EGC many things such as the underlying visions and methods of the award can be explained and analysed. The conclusion of the thesis is that the EGC in some respects is leading to a greener and more sustainable Europe or at least has the potential to do so.
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Curto, Diogo. "A inovação como desafio europeu: o financiamento privado enquanto fator determinante para a competitividade europeia." Master's thesis, Academia da Força Aérea, 2020. http://hdl.handle.net/10400.26/39743.
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Um olhar sobre o estado da inovação europeia e do seu financiamento, em pleno século XXI, apresenta-se como um desafio, simultaneamente, pertinente e aliciante pelo importante contributo que a inovação desempenha na competitividade da União Europeia no âmbito das suas Relações Internacionais.
Este é atualmente um tema fulcral para o desenvolvimento dos Estados, afirmação da sua competitividade e um fator representativo da sua soberania e poder.
Integrada no plano estratégico europeu, a inovação é um instrumento cada vez mais relevante, afirmando-se como o verdadeiro fator que pode fazer da UE um ator global mais forte e competitivo nas Relações Internacionais do século XXI.
Esta dissertação tem por objetivo estudar o impacto e relevância do financiamento privado, e capital de risco associado, no desenvolvimento da inovação europeia, procurando determinar se a atual Política de Inovação da UE está adequada às necessidades e objetivos europeus em matéria de competitividade mundial. Para melhor análise, recorreu-se a uma metodologia qualitativa com carácter descritivo e dedutivo.
Simultaneamente, analisaram-se os resultados provenientes da implementação da atual Política de Inovação da União Europeia que demonstraram uma fraca prestação da inovação europeia no quadro global em variadíssimas frentes, sustentada pela vasta maioria dos indicadores analisados, demonstrando uma adaptação comprometida e desadequada da atual política ao mercado e às necessidades das empresas mais inovadoras.
Igual resultado foi obtido ao comparar a União Europeia e os seus pares a nível internacional, quanto a financiamento privado e capital de risco disponíveis, cujos benefícios e vantagens são ainda incertezas ténues que mereceram análises detalhadas ao longo da dissertação.
A inovação como desafio europeu é a premissa inicial que alerta para a existência de uma condicionante que afeta o desempenho, atual e futuro, da inovação europeia, realidade que compromete o seu desenvolvimento e implementação, com efeitos subsequentes na competitividade da União Europeia no cenário global.
No contexto europeu, é necessário tomar consciência do problema e atuar eficazmente alterando o paradigma atual, exageradamente dependente de financiamento público, que originou a acentuada lacuna de financiamento privado que seria benéfico, e até essencial, colmatar.
Efetivamente, o papel do financiamento privado, consideravelmente mais dinâmico, dada a sua origem privada naturalmente mais propensa ao risco, revela-se preponderante para o sucesso e competitividade das start-ups e empresas europeias diretamente responsáveis pela inovação e criatividade na União Europeia.
Sustentadas por múltiplos indicadores de inovação, as contribuições do estudo para a literatura corroboram a evidente desadequação da atual Política de Inovação da União Europeia, indicando uma necessária e urgente reforma que englobe e priorize o financiamento privado, atraindo investidores, para que possa usufruir e beneficiar do inerente dinamismo associado à iniciativa privada.
Por último, são apresentadas as propostas para estudos futuros nesta área.Analyzing the state of the European innovation and financing, in the middle of the 21st century, presents itself as a challenge that is both pertinent and attractive due to the important contribution that innovation plays on the EU’s competitiveness in the context of its International Relations. This is currently a core theme for the development of States, an affirmation of their competitiveness and a representative factor of their sovereignty and power. Integrated in the European strategic plan, innovation is an increasingly relevant instrument, asserting itself as the true factor that can make the EU a stronger and more competitive global player in 21st Century International Relations. This dissertation aims to study the impact and relevance of private funding, and associated venture capital, in the development of European innovation, seeking to determine if the current EU Innovation Policy is appropriate to the European needs and objectives in terms of global competitiveness. For a better analysis, a qualitative methodology with a descriptive and deductive character was used. At the same time, the results from the implementation of the current EU Innovation Policy were analyzed, which showed a weak performance of European innovation in the global outlook on several fronts, supported by the vast majority of the analyzed indicators, suggesting a compromised and inadequate adaptation of the current policy to the market and the needs of the most innovative companies. The same result was obtained when comparing the EU and its international peers regarding private funding and available venture capital, whose benefits and advantages are still tenuous uncertainties that deserve detailed analysis throughout the dissertation. Innovation as an European challenge is the initial premise that warns to the existence of a condition that affects the future and the performance of European innovation, a reality that is compromising its development and implementation, with subsequent effects on the EU's competitiveness in the global arena. In the European context, it is necessary to become aware of the problem and act effectively by changing the current paradigm, which is overly dependent on public funding, which created the wide private funding gap that would be beneficial, and even essential, to close. Indeed, the role of private funding, considerably more dynamic, given its private origin naturally more prone to risk, reveals to be preponderant for the success and competitiveness of European start-ups and companies directly responsible for innovation and creativity in the EU. Supported by multiple innovation indicators, the study's contributions to the literature corroborate the noticeable inadequacy of the current EU Innovation Policy, indicating a necessary and urgent reform that enclose and prioritizes private financing by attracting investors, so that it can enjoy and benefit from the inherent dynamism associated with private initiative. Finally, the proposals for future studies in this area are presented.
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Frimpong, Fauna Atta. "Venture capital activities in Europe." Doctoral thesis, Universitat de Lleida, 2021. http://hdl.handle.net/10803/672431.
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Els aspectes de les activitats de capital de risc a Europa s'exploren en aquest treball. Un conjunt de dades de panell que cobreix 23 països de la UE / EEE entre 2.000-2.017, des d'una perspectiva macro, s'analitza empíricament amb resultats que donen suport a la investigació teòrica de la literatura de finances empresarials. El capital risc s'utilitzarà com a pla de finançament innovador alternatiu per a les empreses durant els períodes de crisi. Les variacions pel que fa a l'impacte de la crisi financera en la recaptació de fons de capital de risc i les activitats d'inversió a Europa, el creixement de el sector sanitari arran de les inversions de capital de risc dirigides a el sector, i el paper influent dels factors macroeconòmics en les sortides de capital de risc europeu, són totes questions importants per explicar la pertinència de les activitats de capital risc a Europa. Els resultats són sòlids fins i tot quan es controlen altres variables macroeconòmiques, com els fons de capital de risc com a percentatge de PIB, el cost de l'atenció mèdica com percentatge de el PIB i la despesa per càpita en salut, risc polític, impost sobre les guanys de capital.Los aspectos de las actividades de capital de riesgo en Europa se exploran en este trabajo. Un conjunto de datos de panel que cubre 23 países de la UE/EEE entre 2000-2017 desde una perspectiva macro se analiza empíricamente con resultados que apoyan la investigación teórica de la literatura de finanzas empresariales. El capital de riesgo se utilizará como plan de financiación innovador alternativo para las empresas durante los períodos de crisis. Las variaciones en cuanto al impacto de la crisis financiera en la recaudación de fondos de capital de riesgo y las actividades de inversión en Europa, el crecimiento del sector sanitario a raíz de las inversiones de capital de riesgo dirigidas al sector, y el papel influyente de los factores macroeconómicos en las salidas de capital de riesgo europeo, son todas cuestiones importantes para explicar la pertinencia de las actividades de capital riesgo en Europa. Los resultados son sólidos incluso cuando se controlan otras variables macroeconómicas, como los fondos de capital de riesgo como porcentaje del PIB, el costo de la atención médica como porcentaje del PIB y el gasto per cápita en salud, riesgo político, impuesto sobre las ganancias de capital.
The aspects of venture capital activities in Europe are explored in this manuscript. A panel data covering 23 EU/EEA countries between 2000-2017 from a macro perspective are empirically analyzed with results that support theoretical research from entrepreneurial finance literature. Venture capital to be used as alternative innovative financing scheme for businesses during crisis periods, variations as regards the impact of the financial crisis on venture capital fundraising and investment activities in Europe, health sector growth being explained by venture capital investments directed to the sector, and the influencing role of macroeconomic factors on European venture capital exits, are all important issues in explaining the relevance of venture capital activities in Europe. The results are robust even when controlling for other macroeconomic variables such as venture capital funds as a percentage of GDP, healthcare cost as a percentage of GDP and per-capita expenditure on health, political risk, capital gains tax.
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Hall, Fred. "The rise of startup hubs in Europe: a qualitative study on the factors contributing to Berlin’s rise as a european startup hub." reponame:Repositório Institucional do FGV, 2016. http://hdl.handle.net/10438/17986.
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This research study aims to analyze and provide insight into the rise of Berlin as a hub and destination for startups. An extensive literature review was conducted to understand and identify the concepts of entrepreneurship, startups, and the conditions and environments that make up the startup ecosystem. In addition, particular attention was paid to entrepreneurship and startups in Berlin, specifically, and Germany in general. A qualitative study was conducted through interviews with five startups that were located in Berlin with the questionnaire designed and formulated from the literature review. The tiered entrepreneurial ecosystem domain framework was adopted to analyze and interpret the results. Content analysis was used to analyze the qualitative interviews to gather in-depth understanding, trends and insights into the startup ecosystem in Berlin. The research suggests that some improvements are still needed in Berlin’s startup ecosystem, but that it is currently an attractive destination not only for people looking to work at startups but also for entrepreneurs looking to start their own.
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Nilson, Andre. "Capital and Power in Europe: The politics of corporate finance and corporate governance in the European Union." Thesis, University of Oxford, 2008. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.491082.
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Letki, Natalia. "Social capital in East-Central Europe." Thesis, University of Oxford, 2005. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.419054.
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Holseter, Christoffer. "Social Capital and Health in Europe : The potential reduction of all-cause mortality by eliminating educational differences in social capital in 16 European nations." Thesis, Norges teknisk-naturvitenskapelige universitet, Institutt for sosiologi og statsvitenskap, 2014. http://urn.kb.se/resolve?urn=urn:nbn:no:ntnu:diva-26525.
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Background: Social inequalities in health are persistent in society and remain one of the greatest challenges for public health. Europeans with lower socioeconomic status have shorter life expectancy and experience more health problems than people in the higher socioeconomic groups. Previous studies have revealed that the health impact of social health determinants may be comparable to smoking and other well-established risk factors. The main aim of this thesis is to provide estimates of the extent to which health inequalities in Europe realistically can be reduced by policies and interventions aimed at increasing the level of social capital among lower educational groups to the level seen among the highest educated. Data and methods: For each population, social risk factor prevalence data from the early 2000s by gender, age and level of education were gathered from the first two rounds of the European Social Survey (2002 & 2004). Relative risks for the impact on mortality for the social risk factors was collected from a large meta-analytical review of 148 studies on social factors impact on health (Holt-Lundstad et al. 2010). Mortality data from a range of studies were available in the EURO-GBD-SE (2013) project data. The social risk factor prevalence data, the relative risks and the mortality data were combined in order to calculate Population Attributable Fractions (PAF) for mortality by population, level of education and gender, in order to simulate scenarios where educational differences in the social risk factors are completely eliminated. Results: Different social risk factors were upward levelled so that all educational groups got the social risk factor prevalence currently seen in the highest educational group. The results vary from considerable reductions to no reduction at all in all-cause mortality depending on both the social risk factor, gender and country. Overall, living alone seems to be the social risk factor with least health potential, followed by marital status, while social isolation seemed to be the social risk factor with the greatest health potential. Social participation and perception of social support also seem to have a great potential for reducing educational inequalities in allcause mortality in Europe, but there are important variations between countries. Conclusion: The findings from this thesis show a substantial theoretical modifiability of educational inequalities in mortality by increasing the levels of social capital seen in the lower educational groups to the level currently seen among the highest educational groups through Europe. Educational inequalities in all-cause mortality could be substantially reduced and deaths could be avoided if policy makers succeed with policies aimed at eliminating differences in social risk factors in Europe. However, the magnitude of the reduction varies by social risk factor, country and gender. It is therefore important for the different nations to choose the most important entry-points in their population when forming policies.
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Dixon, Adam D. "Pension Fund Capitalism in Europe." Thesis, University of Oxford, 2009. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.508772.
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Seppä, Marko. "Strategy logic of the venture capitalist : understanding venture capitalism - the businesses within - by exploring linkages between ownership and strategy of venture capital companies, over time, in America and Europe /." Jyväskylä : University of Jyväskylä, 2000. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=009456867&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
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Correia, Bernardo Adolfo. "The introduction of financial transaction tax – European Union Scope." Master's thesis, Instituto Superior de Economia e Gestão, 2017. http://hdl.handle.net/10400.5/14789.
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Mestrado em FinançasDesde que a primeira noção sobre impostos sobre operações financeiras (IOF) foi apresentada, varias foram as vantagens e desvantagens associadas a este tipo de imposto. Com os estudos sobre as experiencias de cada país com este tipo de imposto, a ideia da sua introdução ganhou outra dinâmica. A literatura apresentada sobre a introdução de um IOF a uma grande escala, onde é considerado ao mesmo tempo diversos países pertencentes a União Europeia, é deveras escassa. Este estudo é assim inovador, na medida em que não está especificamente orientado para um só país, como é o caso dos estudos tradicionais, mas sim para diversos países pertencentes a União Europeia, tendo sempre como principal objetivo a previsão de qual será o impacto da introdução de um IOF, na perspetiva de receitas fiscais obtidas. Para efetuar este estudo, foi recolhido dados sobre variáveis económicas, financeiras e fiscais, desde Janeiro de 2011 até Dezembro de 2016. Foi efetuado um teste de hipóteses, uma Simulação de Monte Carlo e um "Value at Risk" teste. Os resultados obtidos, indicam que não existe um impacto certo a nível de carga fiscal, variando assim os resultados devido a factores externos.
Since the first concrete notion about FTT was presented, several were the pros and cons that came associated with this notion. With the study of the country experiences, the idea of introducing a FTT gained other dynamic. The literature presented about the introduction of a FTT at a wider scale, where it is consider several countries from the EU, is scarce. This study is innovative in the way that is not focused in a specific country, as it happens in traditional studies, but in several countries in EU, with the specific objective of foreseeing what should be the impact of a FTT in the field of tax revenue. To perform this study, it was collected data on specific economic, financial and tax variables, from January 2011 until December 2016, and performed a scenario hypothesis test, a Monte Carlo Simulation and a Value at Risk analysis. The results reached, showed that there is not a clear impact about the adoption of an FTT and it depends in several external factors.
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Lee, Sunglyong. "Firm access to capital markets in Europe." Diss., Columbia, Mo. : University of Missouri-Columbia, 2007. http://hdl.handle.net/10355/4711.
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Thesis (Ph. D.)--University of Missouri-Columbia, 2007.The entire dissertation/thesis text is included in the research.pdf file; the official abstract appears in the short.pdf file (which also appears in the research.pdf); a non-technical general description, or public abstract, appears in the public.pdf file. Title from title screen of research.pdf file (viewed on September 27, 2007) Vita. Includes bibliographical references.
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Bevivino, Vito <1975>. "Capitale e struttura finanziaria delle società bancarie europee per azioni." Doctoral thesis, Università Ca' Foscari Venezia, 2019. http://hdl.handle.net/10579/15007.
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La tesi affronta il tema della capitalizzazione bancaria e degli strumenti per il finanziamento dell’impresa bancaria. A questo fine esamina la normativa europea in materia, il reg. 575/2013 UE e la direttiva 2013/36/UE, applicando una chiave di lettura del fenomeno che integra le ricadute della disciplina prudenziale con il valore dell’impresa bancaria avendo come punto di riferimento la banca e la sua funzione finanziaria e di intermediazione.
Il percorso delineato dall’elaborato segue una linea di pensiero che si sviluppa a partire dal tema del finanziamento d’impresa e, quindi, secondo il punto di vista adottato, della disciplina del finanziamento d’impresa. A partire da questa considerazione, che sviluppa l’idea della funzione di intermediazione dell’impresa bancaria, i profili attivo e passivo dell’attività bancaria vengono considerati e analizzati dal punto di vista finanziario. Tutto ciò nella convinzione che questo profilo sia quello che meglio spiega il fenomeno prudenziale. Nella ricostruzione del fenomeno si colgono gli aspetti funzionali del finanziamento e la composizione capitalistica della disciplina prudenziale che non assume definizioni formali degli strumenti finanziari.
Nella ricerca sono presenti e vengono utilizzate le fonti europee con perizia e misura, esito apprezzabile anche del periodo di ricerca condotto presso la Banca Centrale Europea.
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Woodfin, Thomas McCall. "The cartography of capitalism: cartographic evidence for the emergence of the capitalist world-system in early modern europe." Diss., Texas A&M University, 2007. http://hdl.handle.net/1969.1/85839.
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The economic competition between the Netherlands, France and England is documented in the atlases published in Amsterdam, Paris and London between 1500 and 1800. However, the relationship between mapping and economic processes remains mostly unexplored in the history of cartography. World-system theory has application to the history of cartography in the early modern period for identifying the linkages between cartography and long-term economic processes.This research analyzes the production of maps, specifically in world and maritime atlases, in these three cities as the geographic expression of the emergent capitalist world system in early modern Europe. The economic concepts of core and periphery as proposed by Immanuel Wallerstein are defined cartographically in the structural morphologies of Dutch, French and English atlases published in this period. Each country mapped itself as a core and such cartographic self-definitions reflect their individual geographic and economic contexts. The Netherlands and England created core atlases in the sixteenth century that evolved in support of business and transport as well as state interests. The French core atlas initiated at the end of the seventeenth century was a governmentally sponsored survey dedicated primarily toward state administration control. The Netherlands, Fance and England also mapped their continental and extra-European peripheries in world and maritime atlases. Dutch engagement in long-distance trade in agricultural commodities created world-system commodity chains of production. Dutch maritime atlases defined these networks of commercial opportunity for the first time. The creators of the first printed world atlases, Dutch cartographers also structured their productions of atlases as a commercial enterprise marketed toward an international clientele. Dutch maritime atlases were an important innovation and Amsterdam atlas publication dominated cartography in the seventeenth century. English publishers adopted Dutch innovations in map production and succeeded to dominance in printing atlases whose structural morphology embodies a world-system of commodity networks. The relationship of cartography to long-term economic processes is demonstrated by the Dutch and English atlases. Early modern world atlases portray the cartographic world-view of core and periphery. The maritime atlases provide the first portrayal of long-distance trade networks that continue to characterize the capitalist exchange of commodities globally.
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Maria, José Francisco R. "Controlos de capitais e sistema monetário europeu." Master's thesis, Instituto Superior de Economia e Gestão, 1995. http://hdl.handle.net/10400.5/12419.
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DeGallier, Nicholas GR. "Venture Capital Investment Duration: Asia, Europe, and North America." Scholarship @ Claremont, 2019. https://scholarship.claremont.edu/cmc_theses/2051.
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Abstract
I apply survival analysis to model the factors that influence venture capital (VC) investment duration. Specifically, I fit a parametric survival model to plot the probability of venture capital exit over time. Given a small number of initial public offering (IPO) exits in the collected sample, the analysis focuses exclusively on exits through mergers and acquisitions (M&A). I fit a Cox proportional hazards model and a parametric model under the generalized Gamma distribution with financing, entrepreneurial firm, and VC firm characteristics. For the first time in the VC investment duration literature, I investigate the time to exit with data of Asian entrepreneurial firms and VC firms. The empirical analysis first draws comparisons between Asian, European, and North American venture capital, and then focuses the analysis to North America. I find that venture capital investments in North America are most likely to exit through M&A, followed by European VC investments and then by Asian VC investments. The region of the VC firm has no effect on the likelihood of an M&A exit.
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BOERIO, PRYANKA. "OLDER PEOPLE, SOCIAL CAPITAL, AND HEALTH IN EUROPE: A QUANTITATIVE STUDY WITH SHARE DATA." Doctoral thesis, Università degli Studi di Milano-Bicocca, 2020. http://hdl.handle.net/10281/277251.
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In Europa il numero di anziani sta rapidamente aumentando. Questo aumento è ancora più consistente se ci si riferisce agli anziani immigrati. Tra il 2010 e il 2015, la presenza di non-nativi di 55 anni e più è aumentata del 50% in Paesi come Finlandia, Portogallo e Lussemburgo. In tale contesto, questioni riguardanti l’inclusione sociale degli anziani immigrati diventano sempre più cruciali.
L’approccio del Capitale Sociale (CS) è ampiamente utilizzato negli studi riguardanti l’inclusione sociale. Tuttavia, non è stato altrettanto esplorato nella letteratura sui migranti anziani e futuri anziani. Inoltre, molti studi in questo campo sono condotti a livello nazionale o regionale, piuttosto che a livello europeo. Infine, il CS non possiede un’operativizzazione standard in sociologia o nelle scienze sociali. Queste caratteristiche fanno, della comparazione su questi temi, un’operazione difficile. Colmare queste lacune presenti in letteratura è l’obiettivo di questo studio. Obiettivo generale è quello di mostrare quale tipo di CS (bonding o bridging) consenta al migrante anziano o in fase di invecchiamento di avere una salute migliore ed un più alto livello di benessere. L’analisi è condotta separatamente per migranti provenienti da Paesi ad alto reddito (HIC) e per migranti provenienti da Paesi a medio e basso reddito (LMIC). In questo studio faccio riferimento ad un approccio micro al CS, seguendo la definizione di Van der Gaag and Snijder (2004). Con l’obiettivo di isolare l’effetto del luogo di provenienza, ho incluso nelle analisi anche i nativi anziani e futuri anziani.
Lo studio è stato svolto a livello europeo, usando i dati della Survey of Health Ageing and Retirement in Europe (wave 6). Ho creato una misura di CS individuale che copre molte delle dimensioni identificate in letteratura (supporto, partecipazione, social network). Ho inserito termini di interazione all’interno dei miei modelli di regressione, in modo da tenere sotto controllo le differenze tra nativi e non nativi. E, con lo scopo di tenere in considerazione l’aspetto macro, ho raggruppato i Paesi a seconda della spesa per la protezione sociale degli anziani e a seconda dell’indice MIPEX (Migrant Integration Policies Index).
I risultati mostrano come la popolazione anziana e in fase di invecchiamento in Europa possiede, in media, più di due contatti all’interno del proprio social network; e questi contatti sono in maggioranza famigliari. Inoltre, tale popolazione risulta essere molto soddisfatta del proprio network di contatti. La partecipazione ad attività sociali risulta essere piuttosto bassa, con l’esclusione della partecipazione ad attività di club o in organizzazioni sportive. Infine, anziani e futuri anziani sono più spesso care giver, piuttosto che persone che necessitano aiuto. Alcune piccole differenze tra nativi e non nativi sono presenti, e sono quasi sempre in favore dei migranti provenienti da LMIC. Questo vantaggio può essere spiegato attraverso la immigrant selectivity theory.
In generale, il CS bridging risulta essere positivo per la salute e il benessere della popolazione anziana europea. Il CS bonding, invece, è, in alcune delle sue dimensioni, negativo per la salute. Questi risultati confermano l’esistenza di un “lato oscuro” del CS. Infine, l’aspetto macro interviene nella relazione presente tra CS, salute (fisica e mentale) e benessere. L’aspetto macro risulta essere un fattore fondamentale da tenere in considerazione, soprattutto quando si ha a che fare con la popolazione anziana immigrata. Un contesto favorevole, infatti, è essenziale per tale popolazione per poter usufruire appieno degli aspetti positivi del CS bridging.The number of seniors in Europe is rapidly growing. This increase is even more important when focussing on older migrants. Between 2010 and 2015, non-native people over 55 years increased by 50% in countries like Finland, Portugal and Luxemburg. In this context, issues concerning older migrants’ social inclusion are becoming crucial. Social Capital’s (SC) approach is widely used in social inclusion studies of older people; while it has not been used as much in the literature on migrants’ seniors and future seniors. Furthermore, many studies on this field are conducted at national or regional level, rather than at European level. Finally, operationalization of SC is not standard in sociology. These characteristics make it difficult to compare different studies and to have a global view of the phenomenon in Europe. The aim of this study is to fill these gaps in the literature, showing what kind of SC (bonding or bridging) allows the seniors or aging migrant to maximise their health and well-being. The analysis is conducted separately for migrants from High-Income Countries (HIC) and from Low- and Middle-Income Countries (LMIC). Here I refer to a micro-level SC approach, following the definition of Van der Gaag and Snijder (2004). With the aim of isolating the effect given by the place of birth, a comparison with the native populations is performed. I perform this study at the European level using data from the Survey of Health Ageing and Retirement in Europe dataset (wave 6), and I created a measure of individual SC, which covers many of the dimensions identified in the literature (e.g. support, participation, social network). I performed regression models with interaction terms and, in order to check the macro level effects, I clustered countries by the expenditure (Purchasing Power Standard) on social protection of old age function and by Migrant Integration Policies Index (MIPEX). Findings show that those who make up the aging and older population in Europe have social networks composed of, on average, more than two contacts; and the majority of them are members of the family. Furthermore, they are very satisfied with their networks. Participation is rather low, with the exclusion of participation in clubs and other sport organizations. Finally, these aging and older people are more often care givers than people who need support. There are some slight differences among natives and non-natives, almost always in favour of migrants coming from “poor” or developing countries. These results are in line with the “immigrant selectivity theory”. In general, bridging SC is positive for the health and well-being of older people in Europe. Bonding SC, instead, is, in some of part, negative for health. These results confirm the existence of a “dark side” of SC. Finally, macro aspects do shape the relationship between SC, (mental and physical) health, and well-being. Macro aspects result as very important to aken into account, especially when considering older migrants: a favourable environment is essential for them to make full use of the positive aspect of bridging SC.
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Ferragina, Emanuele. "Membership Unlimited. Social Capital across European Regions." Thesis, University of Oxford, 2010. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.533796.
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Arduino, Giovanni <1992>. "MARSIGLIA: DA CITTA’ DI FRONTIERA A CAPITALE EUROPEA DELLA CULTURA." Master's Degree Thesis, Università Ca' Foscari Venezia, 2017. http://hdl.handle.net/10579/10661.
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Il presente elaborato si propone di analizzare l’evoluzione storico-culturale della capitale della Provenza e le trasformazioni che negli ultimi anni l’hanno portata all’organizzazione di numerosi eventi che hanno inciso a livello turistico. In particolare la narrazione inizia da uno dei luoghi simboli e caratteristici della città focese: il Porto Vecchio, il limite tra il mare e la terra, il cuore del Mediterraneo e luogo non solo d’importanza strettamente commerciale, ma anche di arrivo di popoli di etnie diverse che hanno importato colori, costumi e sapori dalle loro terre natie e che oggi identificano Marsiglia e le sue vie. Queste tematiche ed altre correlate (quali immigrazione e integrazione) sono testimoniate in letteratura da Jean Claude Izzo nella sua Trilogia Marsigliese.
Il caso MP 2013 EcoR é un caso interessante dal punto di vista della riqualificazione urbana di una città industriale, che affonda le radice già nel 1995 con il progetto Euromediterranée. Un progetto che ricalca la visione moderna della città “intelligente” (smart city), intesa come un luogo concepito a misura d’uomo, sostenibile e dove fondamentale per il benessere generale e la partecipazione attiva di diversi soggetti nelle azioni poste in essere. Il rilancio urbanistico e architettonico della città é frutto di diversi interventi (recuperi, riconversioni e nuove costruzioni) ad opera di artisti locali e di fama internazionale (come Rudy Ricciotti, Norman Forster, Zaha Hadid......) che qualificano la città come capitale della cultura e del cemento. In ottica turistica la cultura assume sempre più un ruolo centrale che permette ad una destinazione di aspirare ad un certo posizionamento nel mercato e a rilanciarne l’immagine dal punto di vista qualitativo con ricadute positive per l’intero sistema economico.
Infine mi soffermerò su uno dei luoghi oggetto di intervento e simbolo della città: l’Unité d’Habitation di Le Corbusier che da Luglio 2016 rientra tra i beni patrimonio UNESCO con la dicitura “L’opera architettonica di Le Corbusier uno straordinario contributo al movimento moderno.
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Faria, Ana Marina Castilho de. "Gestão de resultados e de capital no setor bancário europeu." Master's thesis, Instituto Superior de Economia e Gestão, 2015. http://hdl.handle.net/10400.5/10861.
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Mestrado em Contabilidade, Fiscalidade e Finanças EmpresariaisEste estudo pretende analisar possíveis evidências da existência de práticas de gestão de resultados e de gestão de capital regulado nos bancos europeus. Para tal, foram analisados 36 bancos europeus, 21 cotados e 15 não cotados, durante o período 2007 ? 2014. As observações correspondem a bancos dos seguintes países: Portugal, Grécia e Irlanda, Alemanha, França e Itália. Os resultados sugerem que, durante o período analisado, os dados dos bancos da amostra não indicam evidências de gestão de resultados. Contudo, existem evidências de gestão de capital por parte das entidades bancárias. Conclui-se ainda que a diferença entre bancos de países intervencionados e bancos de países não intervencionados não é significativa para afirmar a existência destas práticas em qualquer um dos tipos de países.
This paper aims to analyze possible evidence of the existence of earnings management and regulated capital management in European banks. For that purpose, 36 European banks were analyzed, 21 listed banks, 15 non-listed banks, between the years of 2007 and 2014. The sample corresponds to banks of the following countries: Portugal, Greece and Ireland, Germany, France and Italy. Results suggest that, in the observed time period, the data of the sampled banks do not show evidence of earnings management. However, there is evidence of capital management by bank entities. Another conclusion is that the difference between banks of countries under intervention and banks of countries not under intervention is not significant in order to confirm the existence of such practices in any type of these countries.
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Cisse, Ousmane. "L’assistance administrative, en matière fiscale, dans l’union européenne." Thesis, Paris 13, 2014. http://www.theses.fr/2014PA131045.
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La libération complète des mouvements de capitaux, devenue tangible depuis le 1er juillet 1990, autorise les ressortissants d'un EM à placer leur épargne dans un autre EM sans aucun obstacle. En l'absence de réglementation européenne, les EM ont toute latitude pour adopter toutes les règles qu'ils jugent nécessaires et souhaitables pour « appâter » les contribuables. Dès lors, les finalités recherchées par la libre circulation des capitaux ne sont pas nécessairement celles produites : certains contribuables sont tentés de placer leurs actifs non pas selon des particularités des différentes offres de placement, mais seulement pour éluder l'impôt. Dans ces conditions, l’assistance administrative « peut » permettre de lutter contre la fraude et l’évasion fiscales en accordant à une administration fiscale la possibilité de réaliser certains actes à l’extérieur de ses frontières nationales sans être entravée par les limites qu’impose la souveraineté d'autres Etats. Toutefois, une question subsiste : l’assistance ainsi accordée repose-t-elle sur une obligation consentie ou sur une obligation imposée ? De cette réponse procède l’efficacité de la procédure d’entraide administrative. En effet, l’intensité de l’assistance administrative dépend des moyens mis en oeuvre pour sa réalisation. Ainsi, le mécanisme d’assistance administrative de l’UE se caractérise, dans sa forme, par une adjonction d’exceptions, de restrictions et de toutes sortes de limitations à l’application des différentes mesures. Ainsi, tantôt dans leur totalité, tantôt sur des dispositions particulières, ces mesures ont été amputées de leur substance. Dès lors, les causes de refus sont multiples et parfois discrétionnaires. Aujourd’hui, on se retrouve avec des textes qui éclairent davantage sur ce qu’ils ne font pas que sur ce qu’ils font. En définitive, les dispositions de l’assistance administrative de l’UE laissent beaucoup à désirer : les mesures qu’elles ne proposent pas sont bien plus nombreuses et bien plus importantes que celles qu’elles préconisent. En réalité, ces dispositions servent surtout d’instrument de coordination et non un outil de coopération ou de rapprochement des législations. En sommes, si l’assistance administrative en droit européen « fait souvent double emploi avec les conventions fiscales internationales », elle n’impose pas aux EM un dispositif plus contraignant. Dans ces conditions, on est en droit de se demander si en l’état de la construction européenne, il est judicieux de garder un dispositif qui ne se démarque pas du droit conventionnel ? C’est ainsi qu’à défaut d’une intégration positive juridique qui renforcerait l’efficacité du mécanisme d’assistance administrative de l’UE, il pourrait être envisagé d’autres voies pour en optimiser le fonctionnement : une européanisation du modèle d’assistance OCDEThe administrative assistance, in tax matters, in the European Union
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Sokalska, Magdalena. "Essays on emerging capital markets in Central and Eastern Europe." Thesis, University of Cambridge, 2000. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.426469.
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Cissé, Abdoulaye Abdoulkadri Kader. "Les entreprises publiques en Europe : ouverture du capital et privatisations." Toulouse 1, 1995. http://www.theses.fr/1995TOU10006.
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Les vagues de privatisations des années 1980 et celles en cours posent le problème de légitimité de l'entreprise publique au sein de l'Union Européenne. L'analyse de son évolution dans ce contexte marqué à la fois par les contraintes concurrentielles internationales, les dispositions de la communauté économique européenne et les opérations de transfert de la propriété du capital, conduit à son acceptation comme forme d'organisation spécifique avec un mode gestion rénovée, s'inscrivant dans le cadre d'une économie mixteThe most private policies of the eighty’s and today's set the problem of public enterprises legitimacy with in the European Union. Development analysis in this context distinguished at one and the same time by international competitive constraint, European economic community clauses and capital property deal, have conduct to his acceptance as specific organization form with a renew management as part of a mixed economy
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Edström, Alexa, and Alexander Klinger. "A Landscape of Deep-Tech and Venture Capital in Europe." Thesis, KTH, Skolan för industriell teknik och management (ITM), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-279736.
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Considering that technology is developing at a rapid pace, the venture capital landscape changes due to R&D and product maturity life cycles shortening dramatically compared to 50 years ago, thus impacting the portfolio of a VC and its future investment opportunities. However, this relationship between digitalization and venture capital remains underexamined in literature. The research problem is thus to explore how venture capital and the industries it backs have been shaped by digitalization and thus deep tech within the context of Europe. The literature review as a method is examining mechanisms propelled by the digitalization behind the top five VC-backed industries between 2015- 2019 in Europe. In this research, deep tech is a major factor as to why industries have been the most heavily invested in due to their predicted potential exploiting the use of digital technologies. Further research should explore this relationship deeper through obtaining primary data with a quantitative approach to strengthen the implications of the findings.Med tanke på att tekniken utvecklas i snabb takt förändras riskkapitallandskapet på grund av FoU och produktmognadets livscykler som förkortas dramatiskt jämfört med för 50 år sedan, vilket påverkar portföljen för en VC och dess framtida investeringsmöjligheter. Detta förhållande mellan digitalisering och riskkapital förblir emellertid inte undersökt i litteraturen. Forskningsproblemet är alltså att undersöka hur riskkapital och de industrier det stöder har formats av digitalisering och därmed djup teknik inom Europa. Litteraturöversynen som metod undersöker mekanismer som drivs av digitaliseringen bakom de fem främsta VC-stödda industrierna mellan 2015-2019 i Europa. I denna forskning är djup teknik en viktig faktor för varför industrier har varit de mest investerade i på grund av deras förutsagda potentiella utnyttjande av digital teknik. Ytterligare forskning bör undersöka detta förhållande för djupare förståelse genom insamlad primärdata och en kvantitativ metodik för att stärka konsekvenserna av resultaten.
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Correia, Alexandre Diogo Figueira da Silva. "ESG performance, tax avoidance and external financing decisions in Europe." Master's thesis, Instituto Superior de Economia e Gestão, 2020. http://hdl.handle.net/10400.5/20881.
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Mestrado em FinançasEste estudo pretende analisar se a evasão fiscal afeta o custo de capital das empresas na Europa, tomando em consideração o nível de ESG das empresas. Enquanto que as atividades de planeamento fiscal podem gerar um maior fluxo de caixa depois de impostos, como resultado de um menor pagamento de imposto para os governos, estas podem também levar a resultados futuros incertos e arriscados, o que pode impor vários riscos para as empresas. Particularmente, tomando em atenção a estrutura de capital das empresas, esses riscos podem afetar significativamente as decisões de financiamento por afetarem o custo de capital próprio e o custo de capital alheio. No entanto, temos também que ter em consideração um tema cada vez mais relevante relacionado com a responsabilidade e impacto social das empresas, que pode também ter um papel importante nas decisões de financiamento. Para analisar, recorremos aos ratings de ESG fornecidas pela Thomson Reuters. Testámos se os ratings de ESG podem moldar a relação entre o planeamento fiscal e o custo de capital. Os resultados sugerem que os investidores reagem positivamente a elevadas pontuações de ESG quando investem em empresas que praticam atividades de planeamento fiscal. Esse efeito é especialmente capturado pelas componentes Social e Governança. Este estudo contribui para a literatura existente sobre planeamento fiscal e custo de capital, adicionando um tem não tem sido suficientemente explorado e que pode influenciar a relação dessas duas variáveis e, particularmente, a reação dos investidores.
This paper aims to study whether tax avoidance affects company's cost of capital in Europe, taking into consideration company's level of ESG. While tax avoidance activities may generate a higher after-tax cash-flow as a result of lower cash tax payments to the governments, those outcomes can be uncertain, which could impose several risks. Specifically, looking at firm's capital structure, those risks could significantly affect the firm's financing decisions by affecting both the cost of equity and the cost of debt. However, we also need to take into consideration an increasingly topic related to firm's responsibility and social impact that may also play an important role in financing decisions. We take advantage of the ESG Scores from Thomson Reuters. We test whether ESG performance scores shape the relationship between tax avoidance and cost of capital. Results suggest that investors perceive higher levels of ESG performance positively when investing in firms that engage in tax avoidance activities. The effect is mostly captured by the Social and Governance components. The study contributes to the literature on tax avoidance and cost of capital, adding a topic that is not sufficiently explored and could influence the final relationship between those two variables and, particularly, the investors' reaction.
info:eu-repo/semantics/publishedVersion
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Acito, Mauro <1992>. "La capitale europea della cultura: la gestione del progetto Matera 2019." Master's Degree Thesis, Università Ca' Foscari Venezia, 2016. http://hdl.handle.net/10579/9092.
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La Capitale Europea della Cultura (ECoC) è uno dei programmi comunitari di maggior successo. Attraverso la descrizione dell'evoluzione del titolo dal 1984 ad oggi, si definirà come abbia fatto la città di Matera a conquistare la nomina per il 2019 e quale può essere l'impatto economico, sociale, culturale e simbolico sul territorio, grazie anche alla comparazione con passate Capitali Europee della Cultura
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Bullen, Claire. "Tales of two cities : comparing culture and social relations in Liverpool and Marseilles, two 'European Capitals of Culture'." Thesis, University of Manchester, 2016. https://www.research.manchester.ac.uk/portal/en/theses/tales-of-two-cities-comparing-culture-and-social-relations-in-liverpool-and-marseilles-two-european-capitals-of-culture(c92ff428-3164-4587-b494-71230aadcfeb).html.
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Since introduced in 1985, the European Capital of Culture often figures as the most ‘successful’ European Union cultural policies. It is also regularly evoked as representative of contemporary strategies of culturally-inflected urban development. That is, where city leaderships look to ‘culture’ as a means to make their cities more competitive, and to manage urban populations. This dissertation uses this European cultural policy as an entry point through which to compare how culturally-inflected urban development has shaped understandings, representations and experiences of culture and social relations in two European cities: Liverpool, European Capital of Culture in 2008, and Marseilles, titleholder in 2013. The central question addressed here is whether it is possible to observe similar opportunities and barriers for urban dwellers of diverse backgrounds living in impoverished urban areas to participate in city and cultural-making processes. The two cities have comparative value because of similarities they share within multi-scalar hierarchies of power. Historically, both were significant global ports of empire; both have frequently been associated with large working class populations that are often racialised or criminalised; both are regularly depicted as ‘cities of crisis’ or ‘uncultured places’. The two urban localities are situated relatively low down on political and economic inter-urban league tables. Since the 1980s, they have become the sites of major market-led urban restructuring processes, exacerbated in the context of recent austerity policies. There are also significant variations; in national and local frameworks of urban governance, differing relations with ‘Europe’ and distinctive histories of race and class. Drawing on ethnographic fieldwork with a range of urban actors (urban dwellers in impoverished neighbourhoods, cultural policy workers and urban decision-makers) between 2004 and 2014, I explore how understandings and experiences of culture and social relations were differentially reconfigured in relation to this European cultural policy initiative. My findings point to similarities in the ways in which cultural policy materialised in these two places historically understood as lacking ‘cultural distinction.’ Dominant understandings of culture value were defined in relation to hierarchies of value constructed in social networks that extending beyond the city (the nation state, Europe, the world). In both, cultural policy-making was closely linked to economic growth policies. As elsewhere in the world, these trends resulted in growing professionalisation of the arts, gentrification of the city centre and increasing marginalisation of local cultural workers and urban dwellers living in impoverished areas, in processes inflected by gender, race and class. The study also draws out some of the complexities and unexpected outcomes of culturally-inflected urban policies. Nuancing studies on cultural diversity and gentrification, it offers an ethnographically sensitive yet critical reading of how such culturally-inflected urban development materialises in particular locations, contributing to broader understandings about the production of social difference and competing understandings of cultural value in cities, in unequal relations of power.
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Tepper, Madison. "The Paradox of Transnational (Neo)Nationalism: Neo-nationalist Entanglements with Capital-"isms" in Modern Poland." Thesis, Virginia Tech, 2019. http://hdl.handle.net/10919/87774.
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The Polish Independence Day march in Warsaw in November 2017 drew a flurry of international media attention for its shocking mass display of far-right nationalism, connections to neo-Nazi groups, and feature of openly racist, Islamophobic, anti-Semitic, and homophobic slogans. However, the dangerously “othering” nationalist ideologies expressed in Poland during this demonstration are far from unique. Over the past 20-30 years, eerily similar nationalist movements have simultaneously emerged across Eastern Europe and the West. Paradoxically, the nation-state has perhaps never had less agency as increasingly global capitalism continues to encroach upon the dominance of the nation itself. I argue that this trend of new nationalist movements indicates a departure from the traditional definitions of nationalism that requires a distinct category, which I refer to as neo-nationalism. In Chapter 1, I differentiate neo-nationalism from conventional understandings of nationalist politics and provide a working definition of neo- nationalism in the twenty-first century. I aim to show that a contextualization of these neo- nationalist movements alongside increasingly global capitalism is essential to understanding the othering natures of neo-nationalist ideologies and their paradoxical nature – both national and transnational, both shocking and entirely banal. I illustrate this by returning to the case of modern Poland, employing a visual rhetorical analysis from a Marxist-feminist perspective in order to demonstrate the manifestations of particular and dangerous dynamics of othering in Polish neo- nationalism. I refer to these dynamics as “capital-isms,” such that they are the “shocking” expression of what are in fact pervasive prejudices brought to the surface by the changing conditions of global capitalism. In Chapter 2, I examine the rhetoric surrounding the Polish Independence Day march in 2017 to highlight the paradoxes and power mechanisms at play in Polish neo-nationalism. I follow with an exploration of the rhetoric employed by the Polish far- right nationalist party, Law and Justice, with particular contextualization with regard to its relationship with the European Union in Chapter 3. Finally, I conclude this thesis by considering the implications of this research for the study of neo-nationalism going forward.M.A.
The Polish Independence Day march in Warsaw in November 2017 drew a flurry of international media attention for its shocking mass display of far-right nationalism, connections to neo-Nazi groups, and feature of openly racist, Islamophobic, anti-Semitic, and homophobic slogans. However, the dangerously “othering” nationalist ideologies expressed in Poland during this demonstration are far from unique. Over the past 20-30 years, eerily similar nationalist movements have simultaneously emerged across Eastern Europe and the West. In this thesis, I theorize the Polish far-right nationalism on display at the Independence Day march as part of a broader trend of neo-nationalist movements, which I demonstrate are paradoxical in nature. After establishing the defining characteristics of neo-nationalism as a phenomenon, I highlight these paradoxes through an analysis of Polish neo-nationalist rhetoric. Furthermore, by placing this rhetoric within its socioeconomic and historical contexts, I demonstrate that the “shocking” display of far-right nationalism in the march is an expression of what are in fact pervasive prejudices brought to the surface by the changing conditions of global capitalism.
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Oppolzer, Konstantin [Verfasser]. "Ring-Fencing in Europe : The EU's Bank Structural Reform and a Legal Comparative Look at National Legislation in Europe's Three Financial Capitals / Konstantin Oppolzer." Baden-Baden : Nomos Verlagsgesellschaft mbH & Co. KG, 2019. http://d-nb.info/1204709114/34.
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Fernandes, Sérgio Filipe Santos. "Capital humano, educação e fundos estruturais em Portugal." Master's thesis, Instituto Superior de Economia e Gestão, 2009. http://hdl.handle.net/10400.5/963.
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Mestrado em Economia e Estudos EuropeusO capital humano é uma das variáveis explicativas mais aplicadas em modelos de crescimento económico. No entanto, a sua natureza abstracta justifica a definição de algumas delimitações no sentido da sua quantificação. Os resultados diferenciados das medições do capital humano têm gerado grande controvérsia entre os autores, mas a proxy mais difundida continua a ser a relativa aos anos médios de escolaridade, relevando desta forma a dimensão educacional do conceito. Este trabalho tem como ponto de partida o reconhecimento da importância da educação e da formação como principais activos da variável capital humano. Caracterizam-se os principais progressos do sistema educativo como meios de desenvolvimento da educação e efectua-se uma análise ao valor da educação em Portugal, numa perspectiva de análise da convergência com os parceiros europeus. Apesar do reconhecido papel da educação no desenvolvimento económico e social, Portugal continua a apresentar um baixo nível educacional e uma fraca convergência com a UE nestas matérias. A procura de hipóteses explicativas para esta situação e a importância dos fundos estruturais da UE para a educação são os outros itens em análise. Finalmente, verifica-se a adequação das medidas dos próximos fundos estruturais a uma estratégia de potencial o incremento da qualificação nacional e de promoção da efectiva convergência educacional.
Human Capital is one of the most adopted variables in the economic growth theory models. Despite this, its abstract nature justifies the different conceptual delimitations in order to allow human capital measurement. In fact, there is a great controversy between the conclusions of the different experiences in this measurement. But, human capital is usually measured through a proxy related to average years of schooling, reflecting the importance of the educational dimension of the human capital concept. The present work is based on the assumption that education and formation are the main components of the human capital. The educational system of Portugal, factor of development of the Portuguese education is characterised. It is also presented a comparative analysis with the other EU member countries on the state of art of education development and of its degree of convergence to the European level. Despite the awareness of the importance that education assumes in the actual socio -economic context, the Portuguese educational level and the convergence towards the European patterns still remain low. Some of the possible reasons of this situation are pointed out and analysed. The importance of the European structural funds in education is also focused. The way that the future programme of the European structural funds on education can contribute to increase the Portuguese human capital is also analysed, taking into consideration its effects on the national level of qualifications and on the promotion of the convergence to the European educational standards.
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Emonnot, Claude. "Intégration financière européenne et fiscalité des revenus du capital." Bordeaux 1, 1994. http://www.theses.fr/1994BOR1D035.
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La diversite de la fiscalite des revenus du capital entre les etats membres de l'union europeenne est-elle un obstacle a l'allocation optimale de l'epargne et de l'investissement entre ces etats ? est-il possible de conserver ces differences ou devraient-elles etre supprimees a cause de la mobilite enternationale du capital ? un tel degre d'autonomie pourrait-il etre maintenu ? ce travail montre que l'harmonisation, comme la concurrence sont des solutions inadaptees aux problemes precedents il propose d'adopter une autre methode, la coordination-cooperation fiscale europeenne. La coordination signifie le choix d'un principe d'imposition international particulier : impots a la source ou de residence. Parce que le principe de residence assure l'equite entre contribuables, la neutralite fiscale a l'exportation des capitaux et une allocation efficace du capital dans l'union europeenne, il devrait etre prefere au mode d'imposition a la source. Mais la cooperation, de nature juridique est la condition qui assure le bon fonctionnement de la coordination, en luttant contre l'evasion vers les paradis fiscaux. Finalement, une reforme fiscale est necessaire pour permettre le succes de la coordination fiscaleIs capital icome tax diversity among member states of the european union and impediment to the optimal allocation of savng and investment among them? is it possible to maintain these differences or will they survive the increase in the degree of international capital mobility? could such a degree of tax autonomy be preserved? this work shaws that harmonization like tax competition are ill-suited solutions to the preceding problems. It porpose to adopt another method : european tax coordination and cooperation. Coodination means choosing a particular principle of international taxation : residence or source based taxes. Because the residence principle ensures equity among tax payers, capital export tax neutrality and an efficient allocation of capital in the european union, it should be prefered to source based taxation. But cooperation of a juridical nature is the condition that ensures the smooth running of coordination, by fighting against evasion to tax heavens. Finally a tax reform is needed to allow the coordination of taxation principle to succeed
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Wocjik, Dariusz. "Corporate governance and capital market in Europe : an economic geography perspective." Thesis, University of Oxford, 2002. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.270163.
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Zhu, Ting Ting. "Capital structure in Europe : determinants, market timing and speed of adjustment." Thesis, University of Leicester, 2015. http://hdl.handle.net/2381/33020.
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In broad terms, the aim of this thesis is to investigate the determinants of capital structure in European-listed firms. More specifically, it examines the existence of market timing effects in European firms and the speed of adjustment towards optimal capital structure as well as its determinants. Over the last two decades, Europe has undergone an intriguing experience involving changes in the political geography, financial liberalization, financial integration, a financial crisis and, most recently, financial reform. These exogenous shocks have taken their toll on European capital markets and banking sectors. In particular, the recent financial crisis has unveiled a number of inefficiencies in the incomplete financial integration process in terms of weak governance and ineffective regulations. The crisis period witnessed an increase in the following: the probability of bankruptcy; the number of banks and firms failing; illiquidity; and a significant loss in firms’ values. This in turn affected the flow of funds into firms either from bank lending channels or from capital markets. Indeed, such financial turmoil calls for further investigation into the determinants of firms’ capital structure in the European markets. This thesis contributes to the literature in two ways. First, this is the first study that empirically tests the market timing theory in 15 European countries. Second, it adds to the scant literature on comparative studies that examine the target capital speed of adjustment and its determinants. The thesis employs various econometric models to analyse the unbalanced panel data collected from 15 European countries. The generalized method of moments (GMM) estimator (among other panel data techniques) is deemed appropriate to estimate the models. It is designed to accommodate the unbalanced panels, multiple endogeneity and the autoregressive properties in the dependent variable. The new evidence provided by the findings of this study will be of great interest to the literature and policy-makers. The results confirm the effect of market valuation. However, it is negative in Europe, rather than positive as theory suggests. The results provide evidence that partially supports both pecking order and trade-off theories. For European firms, the annual speed of adjustment towards target capital is, on average, one quarter for book leverage and one half for market leverage. Firms in the Netherlands and Finland are the fastest to adjust their capital while firms in France and Spain are the slowest. The driving forces of the adjustment speed reveal that firms adjust more rapidly in wealthier and healthier environments such as those which involve a stable economy, a concentrated banking system and a promising future.
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Fischer, Manfred M., Monika Bartkowska, Aleksandra Riedl, Sascha Sardadvar, and Andrea Kunnert. "The impact of human capital on regional labor productivity in Europe." WU Vienna University of Economics and Business, 2008. http://epub.wu.ac.at/3963/1/SSRN%2Did1304654.pdf.
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This paper employs a spatial Durbin model for analyzing the impact of human
capital on regional productivity using for 198 NUTS-2 European regions for the
sample period from 1995 to 2004. The study provides evidence for the existence
of spatial externalities and interactions of the sort as emphasized by new growth
theory. To interpret results meaningfully, we calculate summary measures that
account for the simultaneous feedback nature of the underlying model. By
sampling from the parameter distribution we present measures of dispersion,
revealing that it is relative regional advantages in human capital that matter most
for productivity growth. (authors' abstract)
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GIANNETTO, ANDREA. "Investimenti dell’Unione Europea per lo sviluppo del capitale umano: monitoraggio e valutazione dalla teoria alla pratica." Doctoral thesis, Università degli studi di Modena e Reggio Emilia, 2020. http://hdl.handle.net/11380/1245188.
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Questo progetto di ricerca si concentra sull’analisi dei sistemi di monitoraggio e valutazione (M&V) delle politiche dell’Unione Europea (UE) per la promozione del capitale umano per il periodo di programmazione 2014-2020, ed in particolare sullo sviluppo di:
(i) una griglia di valutazione/lista di controllo incentrata sul design dei sistemi di monitoraggio e basata su (i) un’analisi comparativa delle linee guida delle istituzioni nazionali e sovranazionali in materia di M&V e (ii) una rassegna della letteratura sul concetto, definizione e misurazione del capitale umano. L’obiettivo è quello di creare uno strumento analitico che possa aiutare ricercatori e funzionari nella valutazione della struttura e dei meccanismi di funzionamento dei sistemi di monitoraggio delle politiche per lo sviluppo del capitale umano, facendo tesoro delle conoscenze accumulate in questo campo;
(ii) due casi di studio che analizzano, sulla base del quadro analitico sviluppato nel capitolo uno, i sistemi di M&V di tre fondamentali programmi della UE che supportano lo sviluppo del capitale umano, ed in particolare il Fondo Sociale Europeo (FSE), l’Iniziativa Occupazione Giovani (IOG) e il Fondo di aiuti europei agli indigenti (FEAD);
(iii) una ricerca sperimentale mirata a testare se sia possibile utilizzare le informazioni dal sistema di monitoraggio FSE/IOG sui partecipanti supportati ed i relativi effetti occupazionali per stimare, combinando questi dati con il modello di equilibrio generale RHOMOLO del Centro Comune di Ricerca della Commissione Europea (JRC), gli effetti macroeconomici delle politiche per l’occupazione giovanile.
Ciò facendo, questo progetto di ricerca prova a fornire un contributo innovativo al dibattito sull’effettivo funzionamento dei sistemi di M&V dei fondi europei per lo sviluppo del capitale umano. Tale obiettivo è supportato dall’esperienza professionale accumulata presso l’ente di ricerca “Fondazione Giacomo Brodolini” sulle valutazioni di medio termine dei programmi FSE, IOG, FEAD e REC and JUST 2014-2020 condotte per la Commissione Europea. Tali attività hanno contribuito alla comprensione, da un punto di osservazione privilegiato, dei problemi che in concreto impediscono ai sistemi di M&V di assolvere adeguatamente alla loro funzione informativa e quindi, in ultima istanza, di contribuire alla valutazione del raggiungimento degli obiettivi per i quali i programmi sono stati istituiti. Nella ricerca cerco anche di testare la percorribilità di un metodo innovativo di utilizzare i dati del sistema di M&V del FSE/IOG sulle politiche per l’occupazione giovanile affinché questi, opportunamente elaborati attraverso tecniche econometriche e triangolati una selezione di risultati delle valutazioni di impatto controfattuale, possano fungere da input nelle attività di ricerca attualmente condotte dal JRC e dalla Direzione Generale per l’Occupazione, gli affari sociali e l’inclusione (DG EMPL) sugli impatti macroeconomici degli investimenti FSE/IOG nell’occupazione dei giovani. Sulla base delle analisi svolte nei casi studio e nella ricerca sperimentale, il progetto offre una serie di raccomandazioni di policy.This PhD project is concerned with an analysis of the monitoring and evaluation (M&E) systems of the EU Human Capital (HC) investments in the 2014-2020 programming period, and notably with: (i) the development of an assessment grid/checklists focusing on the design of monitoring systems, based on a comparative analysis of the ways in which guidelines of supranational and international institutions deal with monitoring and evaluation and a literature review on the concept, definition and measurement of Human Capital. This is intended as an analytical tool that helps researchers and practitioners examine the EU’s monitoring arrangements in the field of HC development policies, taking proper stock of cumulative knowledge in this domain; (ii) two case studies which examine, based on a newly developed and comprehensive analytical framework, the M&E systems of three major EU programmes that deal with human capital development, namely the European Social Fund (ESF), the Youth Employment Initiative (YEI) and the Fund for European Aid to the most Deprived (FEAD); (iii) an experimental research that investigates whether and how information from the ESF/YEI M&E system on participants supported and the employment effects the support had on them could be used to estimate – in combination with the existing RHOMOLO model of the Joint Research Centre of the European Commission (JRC) – macroeconomic impacts of youth employment policies. In doing so, this project seeks to provide a novel contribution to the debate on the “real world” M&E of the existing programmes for human capital investments. Such an ambition is corroborated by the working experience accrued with Fondazione Giacomo Brodolini on the actual mid-term evaluations of the ESF, YEI, FEAD and REC and JUST programmes carried out for the European Commission. This aided the understanding, from a privileged standing point, of the concrete issues which mean that the costly M&E systems of EU programmes might fail to provide decisive information on whether programmes deliver on their intended outcomes. It also experiments an innovative way of using ESF/YEI monitoring information on ESF/YEI youth employment investments which, duly elaborated econometrically and triangulated with evidence from Counterfactual Impact Evaluation studies, should serve as an input into current research activities carried out by the JRC and the Commission's Directorate-General for Employment, Social Affairs and Inclusion (DG EMPL) on the socio-economic impacts of ESF/YEI investments in Youth Employment. It ultimately offers some recommendations on the way forward from the case studies’ experiences as well as experimental research.
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Toscano, Vanessa Miguel. "Determinants of bank capital ratios in European Union banks." Master's thesis, Instituto Superior de Economia e Gestão, 2019. http://hdl.handle.net/10400.5/19516.
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Mestrado em FinançasNeste trabalho, analisamos os determinantes do rácio Common Equity Tier 1 (CET1) dos bancos da União Europeia após a Crise das Dívidas Soberanas. Utilizámos informação da base de dados do Bankscope. Exportámos informação de 137 bancos dos 27 paises da UE no período de 2011 a 2018. Baseámos o nosso estudo numa análise de regressão, sendo que analisámos vários modelos de forma a analisar od determinantes e qual o seu impacto no rácio CET1. Para atestar a robustez dos resultados, replicámos a análise aplicando um processo winsor à variável dependente e à variável que representa o Return on Equity. Verificámos que o tamanho, a exposição ao risco, a alavancagem e a liquidez são fatores que afetam o rácio CET1 e consequentemente a solvabilidade do banco. Adicionalmente, observámos que o programa de compra de ativos por parte do Banco Central Europeu (BCE) aparenta aumentar a capacidade dos bancos para absorver as suas potencias perdas, pelo o que se justifica este tipo de ações por parte do regulador.
We analysed European Union banks' Common Equity Tier 1 (CET1) ratio determinants after Sovereign Debt Crisis. We resorted to information from the Bankscope database. We exported information of 137 banks from the 27 countries belonging to the EU, from 2011 to 2018. We performed a regression analysis, running several models to identify the significant variables and their impact on the CET1 ratio. To attest the results' robustness, we replicate the analysis winsorizing the dependent variable and the variable that represents Return on Equity. We verified that size, risk exposure, leverage and liquidity are factors that affect CET1 ratio and banks solvency. Additionally, we observed that the European Central Banks' (ECB) asset purchase program seems to increase banks' capacity to absorb potential losses, which justifies this kind of measures by the regulator.
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Noordijk, Peter Andrew. "Building Bridges with Social Capital in the European Union." PDXScholar, 2013. https://pdxscholar.library.pdx.edu/open_access_etds/1091.
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A culture of accommodation and tolerance is a necessary part of establishing and preserving a functional multi-national and multi-ethnic European Union. Civil society organizations and their associated social capital have been shown to foster civic capacity and achievement of public policy goals. However, social capital that is based on group identity can also contribute to a sense of intolerance towards out-groups, undermining the stated tolerance objectives of the social pillar of the European Union. States with a strong presence alongside civil society are expected to be curb the development of the exclusionary bonding form of social capital in favor of bridging social capital which will improve progress toward policy goals.
This study tests the link between government capacity, social capital and tolerance using data from the 1990-2009 waves of the World Values Survey and European Values Study. Using path analysis and multi-level models of the relationships between political capacity, social capital and intolerance, the model establishes that government capacity enhances bridging social capital and which increases social tolerance. The study fills a gap in understanding how government capacity and policy can result in improved social capital even with greater diversity. A proposed relationship between political capacity and bonding forms of social capital was not supported.
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Dalziel, Mary Margaret Maureen. "Socially disadvantaged groups in Europe : improving health : a comparison of 20 projects across 8 capital cities in Europe." Thesis, London School of Hygiene and Tropical Medicine (University of London), 2005. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.418019.
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Chilumbo, Décio Arlindo da Cunha. "Industry specificities and debt after privatization : evidence from european firms." Master's thesis, Instituto Superior de Economia e Gestão, 2017. http://hdl.handle.net/10400.5/14256.
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Mestrado em FinançasO objetivo desta dissertação é analisar o efeito das privatizações nas decisões de estrutura de capital das empresas, tendo em consideração as diferentes características que cada indústria apresenta e variações na estrutura de capital entre indústrias. Para capturar os efeitos da estrutura de capital ao longo do tempo, foi aplicado um modelo de diferenças-das-diferenças. Os resultados mostram que não há evidência de que os rácios de dívida são afetados pelo processo de privatização. Posteriormente, foi feita uma análise mais profunda para Polónia, um país alvo de um programa de privatização em larga escala num curto espaço de tempo e foram encontrados resultados diferentes. Para empresas polacas, existe evidência de um aumento do rácio de dívida, após a privatização. Relativamente à componente indústria, abordada neste estudo, os resultados sugerem que empresas baseadas em indústrias intensivas em capital terão níveis mais altos de dívida, após a privatização.
This paper aims to study the effect of privatization on capital structure decisions, taking into account industry characteristics and capital structure variations across industries. A differences-in-differences model was applied to capture the effects of capital structure derived from the privatization. The results suggest that there is no evidence that leverage ratios are affected by the process of privatization. We then conduct a deeper analysis for Poland, a country engaged in a large scale privatization program in a short time period, and find different results. For Polish privatized firms, there is a significant evidence of increases in the debt ratios after privatization. Regarding the industry component of this paper, results suggest that firms in capital intensive industries have higher levels of leverage derived from the privatization.
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Schiel, Tilman. "Despotism and capitalism a historical comparison of Europe and Indonesia /." Saarbrücken ; Fort Lauderdale : Breitenbach, 1985. http://catalog.hathitrust.org/api/volumes/oclc/15232785.html.
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Greunz, Lydia. "Knowledge spillovers, innovation and catching up of regions." Doctoral thesis, Universite Libre de Bruxelles, 2002. http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/211354.
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Pulido, Matilde Maia Mendes. "Corporate tax avoidance and ex ante equity cost of capital in Europe." Master's thesis, Instituto Superior de Economia e Gestão, 2016. http://hdl.handle.net/10400.5/13106.
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Mestrado em FinançasA presente dissertação pretende analisar a relação entre o nível de planeamento fiscal e o custo de capital ex ante na Europa, tendo em consideração as características específicas de cada país dado o contexto de maior concorrência fiscal entre empresas. Os resultados obtidos mostram que os investidores têm uma percepção diferente sobre o nível de planeamento fiscal praticado consoante a evolução deste. A análise realizada evidencia que à medida que o nível de planeamento fiscal adoptado aumenta de um nível baixo (low tax avoidance) para um nível mais elevado (high tax avoidance), o custo de capital ex ante decresce. Por outro lado, os resultados mostram também que se o nível de planeamento fiscal praticado se continuar a expandir no mesmo sentido, de um nível elevado para um nível muito superior, o custo de capital ex ante aumenta. Os resultados empíricos demonstram que há uma relação não-linear e convexa entre o nível de planeamento fiscal adoptado e o custo de capital ex ante. Por último, é considerado o efeito da origem legal do país em que cada empresa está sediada na relação entre o nível de planeamento fiscal adoptado e o custo de capital ex ante. Os resultados desta análise são inconclusivos, não sendo possível isolar um efeito específico da origem legal do país em que cada empresa está sediada sobre a relação entre o nível de planeamento fiscal praticado e o custo de capital ex ante.
The aim of this paper is to study the longstanding relationship between corporate tax avoidance and ex ante equity cost of capital in Europe, taking into consideration country-specific characteristics, which are essential in a context of corporate tax competition amongst European countries. We find that investors’ apprehend tax avoidance differently at distinct levels of tax avoidance. We provide evidence that as low-tax avoidance firms engage in greater tax avoidance, the ex ante equity cost of capital appears to decrease. On the contrary, when high-tax avoidance firms undertake greater levels of tax avoidance, the ex ante equity cost of capital appears to increase. These results imply that there is a non-linear, convex relationship between tax avoidance and ex ante equity cost of capital. Finally, we explore the impact of institutional characteristics, countries’ legal origin, on the relationship between tax avoidance an ex ante equity cost of capital. Results from this additional analysis are inconclusive, thus it remains uncertain whether institutional characteristics (legal origin) have an effect on the relation between tax avoidance and cost of capital.
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Zapater, Migone Rodrigo Andrés. "Determinantes del riesgo de crédito soberano europeo en tiempos de crisis." Tesis, Universidad de Chile, 2013. http://www.repositorio.uchile.cl/handle/2250/114858.
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Ingeniero Civil IndustrialLa importancia del riesgo crediticio soberano, radica en que éste es un reflejo del costo de endeudamiento en que deben incurrir los países al momento de emitir deuda. Además, el riesgo crediticio tiene el efecto de ser un techo soberano . Esto significa que las empresas o instituciones domiciliadas en el país, por lo general, no logran tener un rating mayor al otorgado a la deuda soberana, lo que influye en el costo de financiamiento de éstas. En la presente crisis europea, este tema toma especial importancia debido a las fuertes variaciones observadas tanto en las tasas de interés de los bonos soberanos, como en los ratings asignados por las agencias calificadoras de riesgo. En vista de lo recién mencionado, el presente trabajo de título tiene como objetivo general estudiar los determinantes del riesgo de crédito soberano europeo en tiempos de crisis. Para lograr este objetivo, se plantean y dan respuesta a las siguientes preguntas: ¿Cuáles son los determinantes de los ratings soberanos?, ¿Cuáles son los determinantes de los spreads soberanos?, ¿Cuál es el efecto que tiene la crisis sobre los spreads de los bonos soberanos? Para llevar a cabo lo anterior se realiza un estudio empírico. Se tiene un modelo de datos de panel, en el que a través de regresiones lineales se busca explicar cuáles son los determinantes del riesgo crediticio. Se controla por efecto fijo de país para captar los efectos particulares e invariantes en el tiempo, propios de cada economía, y por efecto fijo de tiempo para controlar el efecto de eventos que afectan a todos los países, como es el caso de una crisis financiera global. En esta memoria se ocupan las variables macroeconómicas propuestas en Cantor y Packer (1996): balance fiscal, inflación, deuda de gobierno, crecimiento económico, ingreso per cápita y balance de cuenta corriente. Además, se agregan variables que miden la iliquidez de mercado, con lo cual se construye un panel de datos, a partir del cual se explica de forma empírica el movimiento de los spreads y de los ratings asignados por S&P. La base de datos cuenta con datos desde enero del 2000 hasta marzo del 2013 y con un total de 22 países europeos. Los principales resultados de la investigación indican que el impacto de las seis variables macroeconómicas sobre el rating es el que se esperaría en condiciones normales, y al controlar por efecto fijo país se llega a explicar más del 80% de la variabilidad de éstos. A la vez, se detecta que los ratings de los países tienen un fuerte poder explicativo sobre los spreads. Se observa que en tiempos de crisis, los países con mayor rating y variables macroeconómicas más saludables, se ven menos perjudicados que los que están en una peor situación, en otras palabras, el efecto generado por las variables explicativas se ve amplificado en presencia de una crisis. Empíricamente se observa que antes de la crisis, el mercado no castigaba el tener altos niveles de deuda soberana, lo que cambia durante el desarrollo de ésta, en que sí lo considera y se castiga a los países según sus niveles de deuda.
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Pigozzo, Anna. "Premio "Capitale verde europea". Studio di una politica dell'Unione europea in tema di sostenibilità ambientale con approfondimento terminologico sul minieolico." Master's thesis, Alma Mater Studiorum - Università di Bologna, 2015. http://amslaurea.unibo.it/8910/.
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This dissertation is divided into four chapters and combines the study of the European Green Capital Award with a terminology research on small wind turbines, a technical subject in the macro-area of sustainable cities. Chapter I aims at giving an overview of the development of environmental policies and treaties both at the international and European level. Then, after highlighting the crucial role of cities for the global environment, the chapter outlines the urban dimension of the EU environmental policies and defines the vision of a sustainable city promoted by the European Union. Chapter II contains an in-depth analysis of the European Green Capital Award and illustrates its aims, the entire designation process, its communication campaign and its evolution. Chapter III focuses on applicant, finalist and winning cities in order to study the aspect of participation in the competition. It also contains a detailed analysis of two European Green Capitals, i.e. Nantes and Bristol, who respectively won the title in 2013 and 2015. Based on a variety of sources, this chapter examines the successful aspects of their bids and communication campaigns during their year as Green Capitals. Chapter IV presents the terminology research in the field of small wind turbines and the resulting bilingual glossary in English and Italian. The research was carried out using two terminology tools: TranslatorBank and InterpretBank. The former is composed by two software programmes, CorpusCreator and MiniConcordancer DB, which were used to semi-automatically create specialized corpora from the Web and then extract terminology and occurrences of terms from the collected texts. The latter is a software which has been specifically designed for interpreters in order to help them optimize their professional workflow, from gathering information and creating glossaries on a specific subject to the actual interpreting task at a conference. InterpretBank’s tool TermMode was used to create a glossary with term equivalents and additional information such as definitions and the contexts of use.
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Barreneche, Garcia Andrés. "Intellectual Capital as a Driver of Product Innovation : empirical Studies on European Firms." Thesis, Paris 11, 2014. http://www.theses.fr/2014PA111001.
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La théorie des ressources affirme que les avantages concurrentiels résident dans la mobilisation des actifs précieux qui sont difficiles à imiter. L'Approche du Capital Immatériel (ACI) prolonge cet argument en étudiant ces ressources; plus particulièrement celles qui sont fondées sur la connaissance et qui peuvent être classifiées dans l'une des catégories suivantes: Capital Humain, Capital Structurel, ou Capital Relationnel.Cette thèse cherche à évaluer l'ACI en tant que cadre pour rechercher les conditions favorables permettant aux entreprises d'innover en créant des nouveaux biens et services (produits). Spécifiquement, ce projet doctoral vise à analyser les rôles de chaque type de capital immatériel dans l'innovation de produits. Fondée sur des données européennes, cette thèse examine différents types d'entreprises (nouvelles, petites et moyennes entreprises, et grandes entreprises) et les secteurs d'activités (y compris l'industrie et les services). Le Chapitre 1 examine le capital humain et d'autres déterminants du taux de création d'entreprises dans les villes européennes. Ensuite, le Chapitre 2 examine l'impact de la diffusion des connaissances sur la façon dont l'investissement en R&D interne apporte à l'innovation de produits. Puis, le Chapitre 3 utilise le concept de capacité d'absorption pour explorer comment les similarités des actifs immatériels entre les entreprises sont associées à la performance de leur capital relationnel.En général, ce projet doctoral souligne que l'ACI fournit un cadre propice pour formuler et vérifier des hypothèses concernant les moteurs de l'innovation de produits. Il permet de mener des études portant sur la façon dont les entreprises mobilisent leurs actifs immatériels afin de développer et commercialiser de nouveaux produits. Par ailleurs, cette approche facilite l'interprétation des résultats afin de recommander des décisions managériales et des politiques publiques visant à articuler davantage les pratiques des entreprisesThe resource-based view of the firm argues that competitive advantages lie in the use of valuable resources that are difficult to emulate. The intellectual capital-based view (ICV) extends this argument by studying such resources; particularly intangible (or knowledge) assets that may be classified in three main components: human, structural, and relational capital.This thesis aims to evaluate the ICV as a framework for understanding the favorable conditions that allow firms to innovate by creating new goods and services (i.e., products). Specifically, this thesis seeks to analyze the specific roles of each capital capital component in product innovation. Using European data, it covers an ample range of firm types (i.e, nascent firms, small and medium-sized enterprises, and large firms) and business sectors (including manufacturing and services). Chapter 1 investigates human capital and other determinants of business creation as a measure of entrepreneurship in European cities. Chapter 2 examines the impact of knowledge spillovers on in-house R&D investment and innovation performance in firms. Chapter 3 leverages the concept of absorptive capacity to explore whether similar configurations of IC are associated with the performance of relational capital in companies.Overall, this dissertation finds that the ICV provides a fertile ground to formulate and test hypotheses concerning the drivers of product innovation. It allows to focus research on how companies mobilize intangible assets in order to develop and commercialize new goods and services. Furthermore, this approach provides several lessons for managers and policy recommendations that may help to articulate corporate practices
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Crespo, Cuaresma Jesus, Miroslava Havettová, and Martin Lábaj. "Income convergence prospects in Europe: Assessing the role of human capital dynamics." WU Vienna University of Economics and Business, 2012. http://epub.wu.ac.at/3597/2/wp143.pdf.
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We employ income projection models based on human capital dynamics in order to assess quantitatively
the role that educational improvements are expected to play as a driver of future income convergence in Europe.
We concentrate on income convergence dynamics between emerging economies in Central and Eastern Europe and Western European countries
during the next 50 years. Our results indicate that improvements in human capital contribute significantly to the
income convergence potential of European emerging economies. Using realistic scenarios, we quantify the effect
that future human capital investments paths are expected to have in terms of speeding up the income convergence process in the region.
The income projection exercise shows that the returns to investing in education in terms of income convergence in Europe could be sizeable,
although it may take relatively long for the poorer economies of the region to rip the growth benefits. (authors' abstract)Series: Department of Economics Working Paper Series