The Effect of Plant Closures on Market Value: Empirical Evidence from Pulp and Paper Industry 2004-2012

The aim of this study was to research how plant closure announcements affect the market value of the largest pulp and paper industry companies in the world. Also the effect of announcements on competitors was researched and whether the location of plants, timing, reasons for the closures, and characteristics of the closing firms and competitors have an impact on the results. The overall sample included 57 events in the years 2004-2012 and event study was used as a research method. Main theories were signaling theory and spillover effect. According to empirical results, investors consider plant closure announcements as a positive signal for market value. The spillover effect on competitors was, on average, positive and characteristics of the firms and closures had an effect on the results. Furthermore, the market generally predicted the closures and overreacted to them on the announcement day and after it. It is possible for corporate management and investors to learn from the results and use them as support for their decision making.

The best practices in the formation phase of Sino-Finnish joint ventures in China: For Finnish software companies

This study discusses the formation phase of Chinese-Finnish joint ventures in China. The purpose of this thesis is to create best practices for Finnish software companies in forming a joint venture with a local Chinese company in China. Therefore, the main research question, in what are the best practices for forming Sino-Finnish joint ventures in China for Finnish software firms, is examined through four different themes within the joint venture formation phase; the motives, the partner se- lection, the choice of a joint venture type and joint venture negotiations. The theoretical background of the study consists of literature relating to the establishment process of Sino-Western joint ventures in China. The empirical research conducted for this study is based on the expert interviews. The empirical data was gathered via nine semi-structured interviews with both Chinese and Finnish experts in software and technology industry, who have experience or knowledge in establishing Sino-Finnish joint ventures in China. Thematic analysis was used to cat- egorize and interpret the interview data. In addition, a thematic network was built to act as a basis of the analysis. According to the main findings, the main motives for Finnish software companies to establish a joint venture in China are lack of skills or experience, little resources to enter on their own, and China’s large market. The main motives for Chinese companies are to gain new technology or man- agerial skills, and expand internationally. The intellectual property rights (IPR) have recently im- proved a lot in China, but the Finnish companies’ knowledge on IPR is inadequate. The Finnish software companies should conduct a market and industry research in order to understand their po- sition in the market and to find a suitable location and potential joint venture partners. It is essential to define partner selection criteria and partner attributes. In addition, it is important to build the joint venture around complementary motives and a win-win situation between the joint venture partners. The Finnish companies should be prepared that the joint venture negotiations will be challenging and they will take a long time. The challenges can be overcome by gaining understanding about the Chinese culture and business environment. The findings of this study enhance understanding of the joint venture formation phase in China. This study provides guidelines for Finnish software companies to establish a joint venture in China. In addition, this study brings new insights to the Sino-Western joint venture literature with its soft- ware industry context. Future research is, however, necessary in order to gain an understanding of the advantages and disadvantages of a joint venture as an entry mode into China for Finnish soft- ware companies

Mikä varusmiestä liikuttaa? : varusmiehen vapaa-ajan liikuntamotiivit

Tutkimuksen tavoitteena oli selvittää varusmiesten motiivit harrastaa tai olla harrastamatta liikuntaa varusmiespalveluksen vapaa-ajalla sekä niiden mahdollisia muutoksia. Lisäksi selvitettiin varusmiesten kokemusta oman tulevaisuuden liikunta-aktiivisuuden ja oman fyysisen kunnon muutoksesta palvelusaikana sekä varusmiesten liikuntakerhotoiminnan merkitystä varusmiesten liikunta-aktiivisuudelle. Puolustusvoimien liikuntakoulutuksen tavoitteena on luoda varusmiehille pysyvä liikuntakipinä. Varusmiesten liikuntamotiivien tunnistaminen tukee tätä tavoitetta, sillä liikunnallinen elämätapa lähtee ihmisen omista motiiveista liikkua. Tutkimus on ryväsotantana suoritettu seurantatutkimus. Kyseessä oli määrällinen kyselytut-kimus, jossa kyselyiden tulokset käsiteltiin SPSS-ohjelmalla. Tutkimusjoukkona oli Satakunnan Tykistörykmentin saapumiserän 2/13 ja 1/14 varusmiehiä. Kyselyt toteutettiin vuoden 2014 kevään aikana kolmesti eri koulutuskausilla. Tutkimuksen lähtökohtaoletusarvona oli, että tärkein syy vapaa-ajan liikunnan harrastamiseen on siitä ansaittava kuntoisuusloma ja tärkein syy olla harrastamatta liikuntaa olisi päiväpalveluksen jälkeinen väsymys. Tutkimus osoitti, että tärkein syy harrastaa liikuntaa oli halu pysyä terveenä. Kuntoisuusloma liikuntamotiivina ei ollut merkittävä, ja sen merkitys väheni palveluksen edetessä. Liikunnan harrastamattomuuden tärkein syy palveluksen alkupuolella oli palveluksen jälkeinen väsymyksen tunne, mutta palveluksen loppupuolella se muuttui liikuntamotivaation puutteeksi. Tutkimuksen perusteella voidaan todeta, että omasta kunnosta huolehtiminen on tärkeä motiivi varusmiesten vapaa-ajan liikunnan harrastamiselle. Heikkokuntoisemmille jo pelkkä päiväpalveluksesta suoriutuminen on alussa rankkaa. Palveluksen edetessä ja kunnon kohotessa väsymys vähenee. Liikuntakoulutuksessa tulisikin kiinnittää huomiota varusmiesten motivointiin koko palveluksen ajan.

Maisterikurssin opiskelijoiden käsityksiä johtamisen opiskelusta maisterikurssilla

Tutkielmassa selvitettiin sotatieteiden maisterikurssi 4 johtamisen opiskelijoiden käsityksiä johtamisen syventävien opintojen opiskelusta. Ilmiötä tarkasteltiin vakituiseen upseerin virkaan opiskelevien oppilasupseerien näkökulmasta. Tutkimuksen keskeisenä tavoitteena oli kuvata miten opinnot tukevat johtajana kehittymistä sekä tuoda esille niitä opintojaksoilla käytettyjä oppimismenetelmiä, jotka opiskelijat näkevät tehokkaimmiksi oppimisen ja johtajana kehittymisen kannalta. Lisäksi kuvattiin opiskelijoiden käsityksiä siitä, miten opinnot vastaavat työelämän tarpeita. Työn tarkoituksena oli selvittää opiskelijoiden käsityksiin perustuvia havaintoja ja tuottaa kehitysideoita johtamisen opinnoista. Tutkimuksen pääkysymyksenä oli: Millaisia ovat maisteriopiskelijoiden käsitykset johtamisen pääaineopinnoista? Pääkysymykseen haettiin vastausta seuraavien alatutkimuskysymysten avulla: 1) Miten opinnot tukevat johtajana kehittymistä? 2) Millaiset oppimismenetelmät opiskelijat näkevät tehokkaimmiksi? 3) Kuinka opiskelijat kokevat opintojen vastaavan työelämän tarpeita? Tutkimus koostui empiirisestä kyselytutkimuksesta sekä sitä tukevasta teoreettisesta osasta. Teoreettisessa osuudessa tarkasteltiin johtamisen ja oppimisen takana vaikuttavia teorioita sekä johtamisen syventävien opintojen teoreettista oppimisympäristöä. Tutkimuksen empiirisessä osuudessa tarkasteltiin aihetta johtamisen opiskelijoiden käsitysten kautta. Tutkimus toteutettiin laadullisena tutkimuksena fenomenografisella tutkimusotteella. Aineisto kerättiin avoimia kysymyksiä sisältävällä kyselylomakkeella. Tutkimuksen kohdejoukon muodostivat johtamisen syventäviä opintoja suorittavat sotatieteiden maisterikurssin 4 maasotalinjan oppilasupseerit. Kyselyllä kerätyn aineiston analysointi toteutettiin fenomenografisen analyysimallin mukaisesti. Johtopäätöksenä voidaan todeta, että johtamisen opiskelu kehittää opiskelijoiden asiantuntijavalmiuksia sekä asiantuntijatehtävissä vaadittavia tiedonkäsittelytaitoja. Johtamisen opintojen sisältö ja rakenne ovat pääsääntöisesti asiaankuuluvia, sekä opinnoissa käytettävät opetus- ja oppimismenetelmät nykyaikaisia ja oppimista tukevia. Myös johtamisen oppimisympäristöä voidaan sanoa avoimeksi ja oppimista tukevaksi. Johtajana kehittymisen kannalta opinnoilla on varsin vähäinen merkitys. Opintojen suurimmat heikkoudet ovat niiden teoriapainotteisuus ja käytännön etäisyys.

Collegium über die Physische Geographie vom Herr Profes. Kant, gelesen im Jahr 1770, Königsberg in Preussen

Omistajamerkintä: Johann Danckwart, 1788.

THE INFLUENCE OF LENGTH CHANGE SPEED AND DIRECTION ON DYNAMIC FUNCTION POTENTIATION IN FAST MOUSE MUSCLE

The purpose of this study was to test the hypothesis that the potentiation of dynamic function was dependent upon both length change speed and direction. Mouse EDL was cycled in vitro (25º C) about optimal length (Lo) with constant peak strain (± 2.5% Lo) at 1.5, 3.3 and 6.9 Hz before and after a conditioning stimulus. A single pulse was applied during shortening or lengthening and peak dynamic (concentric or eccentric) forces were assessed at Lo. Stimulation increased peak concentric force at all frequencies (range: 19 ± 1 to 30 ± 2%) but this increase was proportional to shortening speed, as were the related changes to concentric work/power (range: -15 ± 1 to 39 ± 1 %). In contrast, stimulation did not increase eccentric force, work or power at any frequency. Thus, results reveal a unique hysteresis like effect for the potentiation of dynamic output wherein concentric and eccentric forces increase and decrease, respectively, with work cycle frequency.

The effects of a 12-week multifactorial exercise and balance training program on balance control in older adults

The current thesis investigated the effects of a 12-week multifactorial exercise and balance training program on balance control in older adults. Participants completed a baseline testing session which included a series of questionnaires, anthropometric measures, and 18 stance and walking tests. Those who were randomly assigned to the exercise group participated in the 12-week training program while the comparison group was asked not to change anything in his/her lifestyle during the 12-week control period, but were invited to participate in the training program after his/her control period. The same testing protocol was repeated after the 12-week period. The results indicated that there were improvements in the time to complete the walking tests but no change in trunk sway in both the exercise and comparison groups. No changes in stance durations or trunk sway were observed. The findings suggest that the current training program showed no significant improvement in balance control in healthy older adults.

Unaccompanied minors in Canada: How social and legal services affect their lives in Ontario

This qualitative research examines how service provisions affect lives of unaccompanied minors in Canada. In this study I utilized a semi-structured individual interview method. Among thirteen participants in my study, five came to Canada as unaccompanied minors and eight are professionals involved with service providing organizations in the Niagara region. The unaccompanied children that I interviewed had mixed experiences. Social and legal supports were made available to some of them while one was deported. This paper employs Bhabha’s postcolonial perspective and Foucault’s governmentality to illustrate unaccompanied minors’ post-arrival situation in Canada. This paper also attempts to look at children’s rights from Hanson and Nieuwenhuys’s (2013) perspective of living rights, social justice and translations. This paper explores how the change in recent immigration law affects the lives of unaccompanied minors. Findings of this study suggest that it is important to have a consensus on the definition of an unaccompanied minor; improved data collection and record-keeping on the number of unaccompanied minors; and, having a government-approved follow up mechanism. The study recommends policy makers, service providers and scholars pay increased attention to the experiences of unaccompanied minors to ensure that adequate social and legal services are offered to an unaccompanied minor in Canada.

How health organizations can apply scenario based planning and analytic technologies to make strategic consequential decisions in a time of uncertainty

The magnitude of the cervical cancer problem, coupled with the potential for prevention with recent technological advances, made it imperative to step back and reassess strategic options for dealing with cervical cancer screening in Kenya. The purpose of this qualitative study was: 1) to explore the extent to which the Participatory Action Research (PAR) methodology and the Scenario Based Planning (SBP) method, with the application of analytics, could enable strategic, consequential, informed decision making, and 2) to determine how influential Kenyan decision makers could apply SBP with analytic tools and techniques to make strategic, consequential decisions regarding the implementation of a Cervical Self Sampling Program (CSSP) in both urban and rural settings. The theoretical paradigm for this study was action research; it was experiential, practical, and action oriented, and resulted in co-created knowledge that influenced study participants’ decision making. Action Africa Help International (AAHI) and Brock University collaborated with Local Decision Influencing Participants (LDIP’s) to develop innovative strategies on how to implement the CSSP. SBP tools, along with traditional approaches to data collection and analysis, were applied to collect, visualize and analyze predominately qualitative data. Outputs from the study included: a) a generic implementation scenario for a CSSP (along with scenarios unique to urban and rural settings), and b) 10 strategic directions and 22 supporting implementation strategies that address the variables of: 1) technical viability, 2) political support, 3) affordability, 4) logistical feasibility, 5) social acceptability, and 6) transformation/sustainability. In addition, study participants’ capacity to effectively engage in predictive/prescriptive strategic decision making was strengthened.

Barnes Wines, Limited By-Law Index

A list of company by-laws starting July 1873 through April 1973.

Barnes Wines, Limited By-Law No. 76

The summary of the By-Law reads: "A By-Law to provide for participation in profits of Barnes Wines, Limited for the fiscal year 1949, by employees of the Company."

Des sédatifs aux narcotiques, ou comment ne pas s’endormir sur ses lauriers...

Département de linguistique et de traduction