Digitalisaatio ja kuljettajakoulutusyrittäjyys

Digitalisaation myötä myös liikenteestä tulee yhä älykkäämpää. Valtiovalta purkaa sääntelyä ja sallii digitaalisten menetelmien laajempaa käyttöä. Kuljettajakoulutusta pidetään toimialana kuitenkin hyvin konventionaalisena. Diplomityön tarkoituksena on tutkia, mitä digitalisaatio tarkoittaa kuljettajakoulutusyritysten liiketoimintamalleille. Empiiristä aineistoa saatiin teemahaastatteluin ja aineistoa analysoitiin laadullisin menetelmin. Työssä esitellään alan vahvuudet, heikkoudet, mahdollisuudet ja uhat sekä tulevaisuuden skenaariot. Digitalisaatio aiheuttaa merkittäviä muutoksia kuljettajakoulutusalan yrityksille. Auto ei ole enää entisenlainen statussymboli eikä rahan käytön kohde. Digitaaliajan ihmiset eivät aina kaipaa fyysistä liikkumista, kun vielä kivijalkakaupatkin vähenevät. Ajokorttia ei useinkaan koeta välttämättömäksi aikuistumisriitiksi. Uusi teknologia voi kuitenkin radikaalisti parantaa alan yritysten suorituskykyä: palvelut muuttuvat ajasta ja paikasta riippumattomiksi sekä skaalautuviksi. Kuluttajien kannalta digitalisaatio puolestaan parantaa asiakaslähtöisyyttä. Alan liiketoimintamallien kehittymiseen vaikuttaa neljä taustavoimaa: digitalisaatio, perinteet, sääntely ja yrittäjyys. Liiketoimintamalli sisältää opetukselliset ydintoiminnot, sisäiset prosessit, liiketoiminnan tukitoiminnot ja arvoehdotuksen asiakkaalle. Liiketoiminnan kehittäminen vastaamaan digitalisaation vaatimuksia edellyttää proaktiivista innovaatiostrategiaa. Siihen perustuvien innovaatiomenetelmien avulla yritys voi kehittää liiketoimintamalliaan digitalisaation tarjoamien ja tiedon asymmetriasta kumpuavien mahdollisuuksien hyödyntämiseksi.

Variance reduction properties of dynamic hedging models - empirical evidence from BRICS countries

This Master’s Thesis analyses the effectiveness of different hedging models on BRICS (Brazil, Russia, India, China, and South Africa) countries. Hedging performance is examined by comparing two different dynamic hedging models to conventional OLS regression based model. The dynamic hedging models being employed are Constant Conditional Correlation (CCC) GARCH(1,1) and Dynamic Conditional Correlation (DCC) GARCH(1,1) with Student’s t-distribution. In order to capture the period of both Great Moderation and the latest financial crisis, the sample period extends from 2003 to 2014. To determine whether dynamic models outperform the conventional one, the reduction of portfolio variance for in-sample data with contemporaneous hedge ratios is first determined and then the holding period of the portfolios is extended to one and two days. In addition, the accuracy of hedge ratio forecasts is examined on the basis of out-of-sample variance reduction. The results are mixed and suggest that dynamic hedging models may not provide enough benefits to justify harder estimation and daily portfolio adjustment. In this sense, the results are consistent with the existing literature.

Choosing the service support model after a merger: Case Are Ltd.

The meaning of information technology (IT) and information systems have increased during the last few years. This is mainly because business is nowadays seen more and more as a service business and IT is one of the key elements to support those business services. Since the meaning of IT services has increased also the meaning of IT service support should be a factor paid more attention to. Especially after a merger and acquisition (M&A) it is more important than ever to consider service support. The purpose of this study is to discover the best practices for choosing a suitable service support model. The research question is How to choose a service support organization model for the ERP service desk function after a merger? A qualitative method is selected as a research method. This thesis includes two parts: a literature review and a case study. Theoretical part compiles an integrated model of previous research on the topic. It consists a collection of academic articles, publications and reports. The empirical part focuses on the issues in the case organization. That part tries to answer the question: what would be the most suitable service support model for the case organization? The empirical part is conducted by interviewing the employees of the case organization. This study finds that even though there are many ways of selecting a service support model it is difficult to define an unambiguous guidelines. However, there are few main objectives that should be taken into account regardless the case. Especially by using ITIL processes it is possible to implement a comprehensive service support and raise overall awareness of the existing service support models. The main functions that need to be taken into account are nature, industry and size of the organization. Also the business strategy, goals and resources need to be considered. These are the same factors that are noticed in the case study as well. The suggestions for the case organization are presented based on the interviews and the literature review.

Models to study intermediate filament dynamics and functions

Intermediate filaments are part of the cytoskeleton and nucleoskeleton; they provide cells with structure and have important roles in cell signalling. The IFs are a large protein family with more than 70 members; each tightly regulated and expressed in a cell type-specific manner. Although the IFs have been known and studied for decades, our knowledge about their specific functions is still limited, despite the fact that mutations in IF genes cause numerous severe human diseases. In this work, three IF proteins are examined more closely; the nuclear lamin A/C and the cytoplasmic nestin and vimentin. In particular the regulation of lamin A/C dynamics, the role of nestin in muscle and body homeostasis as well as the functions and evolutionary aspects of vimentin are investigated. Together this data highlights some less well understood functions of these IFs. We used mass-spectrometry to identify inter-phase specific phosphorylation sites on lamin A. With the use of genetically engineered lamin A protein in combination with high resolution microscopy and biochemical methods we discovered novel roles for this phosphorylation in regulation of lamin dynamics. More specifically, our data suggests that the phosphorylation of certain amino acids in lamin A determines the localization and dynamics of the protein. In addition, we present results demonstrating that lamin A regulates Cdk5-activity. In the second study we use mice lacking nestin to gain more knowledge of this seldom studied protein. Our results show that nestin is essential for muscle regeneration; mice lacking nestin recover more slowly from muscle injury and show signs of spontaneous muscle regeneration, indicating that their muscles are more sensitive to stresses and injury. The absence of nestin also leads to decreased over-all muscle mass and slower body growth. Furthermore, nestin has a role in controlling testicle homeostasis as nestin-/- male mice show a greater variation in testicle size. The common fruit fly Drosophila melanogaster lacks cytoplasmic IFs as most insects do. By creating a fly that expresses human vimentin we establish a new research platform for vimentin studies, as well as provide a new tool for the studies of IF evolution.

Banking and regional inequality in Brazil: an empirical note

The paper investigates a neglected aspect of regional inequality in Brazil, namely regional inequalities related to financial flows. A synthetic regional financial inequality index is proposed and calculated in a semester basis over the 02-1994/02-2000 period. The inequality measure attempts to capture to what extent deposits in a given state translate into credit operations in that locality. Two main results emerge. First, non-negligible inequality patterns emerge when one considers the segment of private banks and those are consistent with an important proportion of states with a predominantly exporting pattern, for which deposits surpasses loans in that locality. Second, if one focus on the segment of public banks, an opposite pattern appears, that is consistent with decision patterns that might have, in part, a regional development motivation.

Corruption, income, and rule of law: empirical evidence from developing and developed economies

This article presents an empirical analysis based on cross-country data concerned with two points regarding corruption: (i) its effects on income; and (ii) how to mitigate corruption. The findings can be highlighted in two points. Firstly the idea that corruption is intrinsically connected with income is confirmed. Secondly, the traditional argument that an increase in rule of law represents a good strategy in the fight against corruption is valid for developing countries. Furthermore, this study reveals that the search for increasing the human development index represents a rule of thumb for high levels of income and to control corruption.

Small teleoperated vehicles: study of potential use cases and empirical prototyping

This thesis researches the current state of small teleoperated devices, the need for them and developing one. Small teleoperated devices give the possibility to perform tasks that are impossible or dangerous for humans. This work concentrates on small devices and cheap components and discloses one way of developing a teleoperated vehicle, but not necessarily the optimal way. Development and the current state of teleoperation were studied by a literature review, in which the data was searched from literature as well as from the Internet. The need for teleoperated devices was mapped through a survey, where 11 professionals from variating fields were interviewed how they could utilize a teleoperated devices and with what kind of features. Also, a prototype was built as a proof of concept of small teleoperated devices. The prototype is controlled by a single-board microcomputer that also streams video to the controlling device. The video can be viewed on a display or with a head mounted display.

Price synchronization in retailing: some empirical evidence

The paper investigates the synchronization of price changes in the context of retail tire dealers in São Paulo-Brazil and selected items in supermarkets for cleaning supplies and food in Rio de Janeiro-Brazil. Results indicate similar and non-negligible synchronization for different brands, although magnitudes are distant from a perfect synchronization pattern. We find interesting patterns in inter-firm competition, with similar magnitudes across different tire types. Intra-chain synchronization is substantial, indicating that a common price adjustment policy tends to be sustained for each chain across different products.

Effects of overvaluation and exchange rate volatility over industrial investment: empirical evidence and economic policy proposals for Brazil

The present article aims to analyze the recent behavior of real exchange rate in Brazil and its effects over investment per worker in Brazilian manufacturing and extractive industry. Preliminary estimates presented in the article shows an over-valuation of 48% of real exchange rate in Brazil. The reaction between the level (and volatility) of real exchange rate and investment (per worker) in Brazil is analyzed by means of a panel data econometric model for 30 sectors of Brazilian manufacturing and extractive industry. The empirical results show that the level and volatility of real exchange rate has a strong effect over investment per worker in Brazilian industry. Finally, we conclude the article presenting a proposal for a new macroeconomic regime that aims to produce an acceleration of economic growth of Brazilian economy and, by that, a catching-up process with developed countries.

Asiakassuhteen johtaminen ja kehityspotentiaalit arvoketjussa

Tämän tutkimuksen tavoitteena oli tehdä ymmärrettäväksi kvalitatiivisen tutkimus-menetelmää käyttäen tutkimuskohteena olevan case -yrityksen myynnin edustaji-en asiakassuhteen johtamisesta sekä sen hoitamisesta tapahtuvia toimia sekä niiden vaikutusta yrityksen arvoketjutoimintoihin ja prosesseihin sekä yrityksen asiakkaisiin. Tutkimuksella haluttiin löytää ne tekijät ja toimet, mitkä vaikuttavat prosessien toimimiseen sekä aiheuttavat suoraan tai välillisesti kustannuksia tai prosessihidasteita yritykselle. Lisäksi halutaan saada käsitys siitä osataanko nämä kohdat tällä hetkellä tiedostaa myynnin ja arvoketju toimesta. Tutkimuksen asiaa tarkastellaan case -yrityksen kolmen liiketoiminta-alueen kannalta. Tutkimuksen teoreettinen viitekehys rakentuu asiakassuhteen johtamisen, asia-kaspalvelun, asiakaspalvelun laadun sekä sisäisen asiakaspalvelun teorioiden ympärille. Lisäksi viitekehyksessä aihetta tarkastellaan kannattavuuden ja proses-sitehokkuuden näkökulmasta. Tutkimus empiirinen osuus toteutettiin puoli strukturoituina teemahaastatteluina valituille myynnin sekä arvoketjun edustajille. Tutkimusosiossa haluttiin saada selvyys sekä näkemys siihen, miten asiakassuhteen johtaminen tällä hetkellä tapahtuu case -yrityksessä sekä mitä tämä vaikuttaa yrityksen arvoketjun prosesseihin kun palveluprossien volyymimäärä on suuri. Tutkimustulokset vahvistavat sen, että yrityksen hyvällä ja sujuvalla yrityksen si-säisellä asiakaspalvelulla oli iso vaikutus yrityksen sisäisiin prosesseihin sekä asiakkaalle tuotettavaan asiakaspalvelun laatuun. Lisäksi toimiva ja sujuva sisäinen asiakaspalvelu vaikuttaa yritykseen myyntiin ja sitä kautta syntyvään tulokseen.

The Impact of Acquisitions on Share Pricing and Long Term Performance – Empirical Evidence from the Global Automotive Industry

Automotive industry has faced intense consolidation pressure, which has lead to increasing number of M&As. However, empirical evidence has given controversial results suggesting that most of M&As are value destructive for acquiring companies and for acquiring companies’ shareholders. The objective of this master’s thesis is to examine how acquiring companies’ shareholders react to acquisition announcement and is the reaction in line with the long-term performance. This study uses empirical evidence from automotive industry, which has been characterized as an industry that holds large amount of vertical and horizontal synergies. Transaction data consists of 65 acquisitions made by publicly listed companies between 2008-2010. The short-term impact is tested by applying event study methodology while the long term operative performance is examined with accounting study methodology. The event study results indicate that during the three days after acquisition (t= 0-2), the acquiring firms’ stocks generate an abnormal return of 1.22% on average across all acquisitions. When long term performance is studied it is evident that acquiring companies perform better than the industry median pre- and post-transaction but there is no statistically significant evidence that the performance has increased. The only performance ratio indicating statistically significant decrease is Return on Equity (ROE). On long-term horizontal acquisitions seem to outperform conglomerate ones but otherwise deal characteristics do not have any statistically significant impact.

Overvaluation trend of the Brazilian currency in the 2000s: empirical estimation

The aim of this paper is to discuss the trend of overvaluation of the Brazilian currency in the 2000s, presenting an econometric model to estimate the real exchange rate (RER) and which should be a reference level of the RER to guide long-term economic policy. In the econometric model, we consider long-term structural and short-term components, both of which may be responsible for explaining overvaluation trend of the Brazilian currency. Our econometric exercise confirms that the Brazilian currency had been persistently overvalued throughout almost all of the period under analysis, and we suggest that the long-term reference level of the real exchange rate was reached in 2004. In July 2014, the average nominal exchange rate should have been around 2.90 Brazilian reais per dollar (against an observed nominal rate of 2.22 Brazilian reais per dollar) to achieve the 2004 real reference level (average of the year). That is, according to our estimates, in July 2014 the Brazilian real was overvalued at 30.6 per cent in real terms relative to the reference level. Based on these findings we conclude the paper suggesting a mix of policy instruments that should have been used in order to reverse the overvaluation trend of the Brazilian real exchange rate, including a target for reaching a real exchange rate in the medium and the long-run which would favor resource allocation toward more technological intensive sectors.

Nature of the state economic expanded functions in the Brazilian economy*

ABSTRACT The paper discusses the dynamics of capital accumulation in Latin America economies. The hypothesis is that in these economies the role of the State is comparatively broader than in the economies of the centers of the capitalism by structural reasons. The argument is mainly based on Marx and Kalecki, besides historical elements of Latin America economies, particularly the Brazilian economy. Then the paper explores the dynamics consequences of this nature at the national levels, concluding that this condition gives a higher degree of instability.