Metas de inflação em perspectiva: a influência do trinômio reputação-credibilidade-transparência sobre a economia

Although inflation target regime seeks to serve as a reference for the expectation formation process of the agents, its implementation does not necessarily imply the acquisition or the best result in terms of economic growth. The present article aims the development of a model that explains, by firms' investment decisions, the product path behavior, undertaking monetary authority may present distinct situations associated with the reputation-credibility-transparency trinomial. The article also detaches different kinds of reputation and its degrees.

Tilintarkastuksen riippumattomuuden vaarantavat tekijät

Tämän kandidaatintutkielman tavoitteena oli tutkia, mitkä tekijät vaarantavat tilintarkastuksen riippumattomuuden. Tutkimuksessa tutkittiin riippumattomuuden vaarantavia tekijöitä ja niitä keinoja, joiden avulla tilintarkastajien riippumattomuutta voidaan parantaa. Lisäksi työssä tarkasteltiin, mitkä eri tahot sääntelevät tilintarkastajien riippumattomuutta. Tutkimus toteutettiin laadullista tutkimusmenetelmää käyttäen. Työn teorian ohella käytettiin myös empiiristä aineistoa, joka koostui Big Four -tilintarkastusyhteisöjen tuottamista läpinäkyvyyskertomuksista. Aineisto kerättiin tilintarkastusyhteisöjen internetsivuilta. Tutkimuksen tulosten osalta voidaan sanoa, että tilintarkastuksen riippumattomuudelle uhkia ovat; oman edun-, oman työn tarkastamisen-, asianajon-, läheisyyden- ja painostuksen uhat. Tilintarkastuksen täydellistä riippumattomuutta on kuitenkin mahdotonta saavuttaa, minkä johdosta on pyrittävä vain mahdollisimman objektiiviseen ja riippumattomaan tilintarkastukseen.

Cardiac Imaging in the Diagnosis of Coronary Artery Disease: The Value of Quantitative Imaging of Myocardial Perfusion and Deformation

Atherosclerosis is a chronic and progressive disease of the vasculature. Increasing coronary atherosclerosis can lead to obstructive coronary artery disease (CAD) or myocardial infarction. Computed tomography angiography (CTA) allows noninvasive assessment of coronary anatomy and quantitation of atherosclerotic burden. Myocardial blood flow (MBF) can be accurately measured in absolute terms (mL/g/min) by positron emission tomography (PET) with [15O] H O as a radiotracer. We studied the coronary microvascular dysfunction as a risk factor for future coronary calcification in healthy young men by measuring the coronary flow reserve (CFR) which is the ratio between resting and hyperemic MBF. Impaired vasodilator function was not linked with accelerated atherosclerosis 11 years later. Currently, there is a global interest in quantitative PET perfusion imaging. We established optimal thresholds of [15O] H O PET perfusion for diagnosis of CAD (hyperemic MBF of 2.3 mL/g/min and CFR of 2.5) in the first multicenter study of this type (Turku, Amsterdam and Uppsala). In myocardial bridging a segment of the coronary artery travels inside the myocardium and can be seen as intramural course (CTA) or systolic compression (invasive coronary angiography). Myocardial bridging is frequently linked with proximal atherosclerotic plaques. We used quantitative [15O] H O PET perfusion to evaluate the hemodynamic effects of myocardial bridging. Myocardial bridging was not associated with decreased absolute MBF or increased atherosclerotic burden. Speckle tracking allows quantitative echocardiographic imaging of myocardial deformation. Speckle tracking during dobutamine stress echocardiography was feasible and comparable to subjective wall motion analysis in the diagnosis of CAD. In addition, it correctly risk stratified patients with multivessel disease and extensive ischemia.

Transparência do banco central: uma análise para o caso brasileiro

Central Bank transparency: an analysis of the Brazilian case. Nowadays there is a tendency among central banks of increasing transparency in the conduction of the monetary policy. After the adoption of inflation targeting in Brazil there was an increase in the communication of the Central Bank of Brazil with the public. This paper makes a brief review of the recent theoretical and empirical literature concerning this subject. Furthermore, an analysis due to the transparency in the conduction of Brazilian monetary policy on important macroeconomic variables is made. The findings denote that an increase in transparency improves the behavior of several macroeconomic variables.

Grassroots Charity in China: Case Analysis of a Charity Project Organised by Jane Zhang Fan Club

As unregistered grassroots charities do not appear in official statistics in China, they tend to remain unnoticed by scholars. Also as they operate unofficially and avoid publicity, their work is usually not reported by the media. In this research I explore the grassroots charity activity of one pop music fan club from the viewpoint of trust as a sociological concept. I will also establish the general situation on charity in China. By using textual analysis on internet blogs and discussion forums I map the charity project from the discussion of the original idea to the execution and follow up phase. I study the roles the fan club members assume during the project as anonymous participants of internet conversations, as well as concrete active charity volunteers outside of the virtual world. I establish parties, other than the fan club, which are involved in the charity project. Interviews with one of the participant of the project in 2010, 2014 and 2015 bring valuable additional information and help in distributing the questionnaire survey. A quantitative questionnaire survey was distributed among the fan club members to get more detailed information on the motives and attitudes towards official and unofficial charity in China. Because of the inequality in China, the rural minority areas do not have similar educational opportunities as the mostly majority inhabited urban areas, even though the country officially has a nine year compulsory education. Grassroots charities can operate in relative freedom taking some of the government’s burden of social responsibilities if they are not criticizing the authorities. The problem with grassroots charity seems to be lack of sustainability. The lack of trust for authorities and official charities was the reason why the Jane Zhang fan club decided to conduct a charity case unofficially. As a group of people previously unknown to each other, they managed to build mutual trust to carry out the project transparently and successfully, though not sustainably. The internet has provided a new and effective platform for unofficial grassroots charities, who choose not to co-operate with official organisations. On grassroots level charities can have the transparency and trust that lack from official charities. I suggest, that interviewing the real persons behind the internet aliases and finding out what happened outside the discussion forums, would bring a more detailed and outspoken description of the project concerning of the contacts with the local authorities. Also travelling to the site and communicating with the local people in the village would establish how they have experienced the project.

The Banco Central do Brasil's institutional framework after ten years

The Banco Central do Brazil (BACEN) adopted inflation targeting in 1999. This monetary policy regime originates in institutional design which remains crucial today for the expectations management, and is in permanent evolution. After 10 years, the BACEN institutional framework is assessed, asking if there is still room for improvement. Various institutional procedures are analysed, and lessons are drawn from the international experience of a panel of sixteen countries. Some proposals for the BACEN institutional framework are made.

Työn osituksen kehittäminen kustannusten kirjaamisen ja seurannan tarkentamiseksi projekteissa

Työn päätavoite on selvittää kohdeyrityksen projektien tehtävien jakoon ja työn jäsentämiseen käytettävän työn osituksen rakenteen ongelmat projektikustannusten kirjaamisessa. Tämän lisäksi tavoitellaan kustannusläpi-näkyvyyden kasvua, mittaamisen helpottumista ja kustannusarvioinnin tarkentumista antamalla kehitys-ehdotuksia rakenteen tarkentamiseksi ja yksinkertaistamiseksi. Työ on laadullista ja toiminnallista tapaus-tutkimusta. Teoriaosuuden aineistona on tieteellisiä artikkeleita, kirjoja, lehtiä ja muita aiheeseen liittyviä julkaisuja. Empiirinen osa koostuu yrityksen sisäisistä haastatteluista sekä esikuva-analyysihaastatteluista. Kehitysehdotusten analysointiin ja valintaan käytetään GAP–analyysiä ja toteutettavuustarkastelua. Työn keskeisimpänä tuloksena on neljä kehitysehdotusta, jotka pohjautuvat teorioiden suosituksiin työn osituksen rakenteen sisällöstä. Tällä työllä pyritään myös tuomaan esille kehitystarvetta yrityksessä ja antamaan suunta sekä alkusysäys kehitysprosessille kohti toimivampaa projektien kustannusseurantaa.

How CSR and stakeholder engagement encourage the development of Industrial symbiosis from the management viewpoint?

The thesis aims to understand how CSR and stakeholder engagement can contribute to the development of industrial symbiosis. Theory suggests that corporate social responsibility and stakeholder engagement theories have many similar aspects that correlate with the development of industrial symbiosis. This study is qualitative and empirical suggestions are derived from integrative analysis of literature, secondary data and case study analysis. The empirical findings from the interviews support the framework that is created from the findings of the literature review. The results discovered throughout the thesis research suggest that CSR functions as a theoretical background for industrial symbiosis and stakeholder engagement helps develop more thorough understandings of it from the management viewpoint. Empirical findings and literature review also suggest that in the developing of industrial symbiosis the key aspect are the social characteristics such as a robust management structure, trust between partners and long-term commitment to the common goals that support the development of these symbioses. Also, communication and transparency supports the development of industrial symbiosis. For managerial contribution, this thesis presents organizational practices that can help managers to understand how they can engage in effective engagement with stakeholders in the development of industrial symbiosis.

Evaluation of the main energy scenarios for the global energy transition

Energy scenarios are used as a tool to examine credible future states and pathways. The one who constructs a scenario defines the framework in which the possible outcomes exist. The credibility of a scenario depends on its compatibility with real world experiences, and on how well the general information of the study, methodology, and originality and processing of data are disclosed. In the thesis, selected global energy scenarios’ transparency and desirability from the society’s point of view were evaluated based on literature derived criteria. The global energy transition consists of changes to social conventions and economic development in addition to technological development. Energy solutions are economic and ethical choices due to far-reaching impacts of energy decision-making. Currently the global energy system is mostly based on fossil fuels, which is unsustainable over the long-term due to various reasons: negative climate change impacts, negative health impacts, depletion of fossil fuel reserves, resource-use conflicts with water management and food supply, loss of biodiversity, challenge to preserve ecosystems and resources for future generations, and inability of fossil fuels to provide universal access to modern energy services. Nuclear power and carbon capture and storage cannot be regarded as sustainable energy solutions due to their inherent risks and required long-term storage. The energy transition is driven by a growing energy demand, decreasing costs of renewables, modularity and scalability of renewable technologies, macroeconomic benefits of using renewables, investors’ risk awareness, renewable energy related attractive business opportunities, almost even distribution of solar and wind resources on the planet, growing awareness of the planet’s environmental status, environmental movements and tougher environmental legislation. Many of the investigated scenarios identified solar and wind power as a backbone for future energy systems. The scenarios, in which the solar and wind potentials were deployed in largest scale, met best the set out sustainability criteria. In future research, energy scenarios’ transparency can be improved by better disclosure on who has ordered the study, clarifying the funding, clearly referencing to used sources and indicating processed data, and by exploring how variations in cost assumptions and deployment of technologies influence on the outcomes of the study.

Structuring of internal control – a case study

The aim of this Master’s thesis is to find out how should internal control be structured in a Finnish retail company in order to fulfil the requirements set out in the Finnish Corporate Governance Code and to be value adding for the company as well as to analyse the added value that a structured and centrally led internal control can provide for the case company. The underlying fundamental theoretical framework of the study essentially stems from the theory of the firm; the agent-principal problem is the primary motivator for internal control. Regulatory requirements determine the thresholds that the internal control of a company must reach. The research was carried out as a case study and methodically the study is qualitative and the empirical data gathering was conducted by interviews and by participant observation. The data gathered (processes, controls etc.) is used to understand the control environment of the company and to assess the current state of internal control. Deficiencies and other points of development identified are then discussed.

Coopetition as a lead generating mechanism: design, modelling and simulation

The aim of this research is to develop a tool that could allow to organize coopetitional relationships between organizations on the basis of two-sided Internet platform. The main result of current master thesis is a detailed description of the concept of the lead generating internet platform-based coopetition. With the tools of agent-based modelling and simulation, there were obtained results that could be used as a base for suggestion that the developed concept is able to cause a positive effect on some particular industries (e.g. web-design studios market) and potentially can bring some benefits and extra profitability for most companies that operate on this particular industry. Also on the basis of the results it can be assumed that the developed instrument is also able to increase the degree of transparency of the market to which it is applied.

The landscape of work engagement in brain injury rehabilitation /

This study examined work engagement among brain injury rehabilitation professionals with specific attention to how they engage with their work (the extent to which they experience vigor, dedication, and absorption while working) and how they engage with people (the degree to which they are welcoming towards others and demonstrate integrity, responsibility, transparency). This study also tested a theoretical model of work engagement that predicted a relationship between engagement and personal, interpersonal, and organizational capacity. Eighty-one staff employed in a hospital-based brain injury program participated in the study. A quantitative self-report survey was used to measure participants' levels of capacity and engagement and a qualitative question was included to identify initiatives that could be introduced to enhance job performance. As predicted by the model, there were statistically significant positive correlations among all three capacity variables and engagement with work and statistically significant positive correlations between ethical engagement and personal and interpersonal capacity. The results of the qualitative data analysis revealed three broad categories of recommendations for improving job performance (more learning opportunities, more resources to support professional development, and the need to build greater team cohesion). These findings provide initial support for a theoretical model that emphasizes the link between capacity and engagement, which could be used to guide theory-driven interventions aimed at improving the work environment.

Factors influencing the seasonal changes in primary productivity of the photosynthetic bacteria of Crawford Lake, Ontario

A naturally occurring population of photosynthetic bacteria, located in the meromictic Crawford Lake, was examined during two field seasons (1979-1981). Primary production, biomass, light intensity, lake transparency, pH and bicarbonate concentration were all monitored during this period at selected time intervals. Analysis of the data indicated that (l4C) bacterial photosynthesis was potentially limited by the ambient bicarbonate concentration. Once a threshold value (of 270 mg/l) was reached a dramatic (2 to 10 fold) increase in the primary productivity of the bacteria was observed. Light intensity appeared to have very little effect on the primary productivity of the bacteria, even at times when analyses by Parkin and Brock (1980a) suggested that light intensity could be limiting (i.e., 3.0-5.0 ft. candles). Shifts in the absorption maxima at 430 nrn of the .bacteriochlorophyll spectrum suggested that changes in the species or strain composition of the photosynthetic bacteria had occurred during the summer months. It was speculated that these changes might reflect seasonal variation in the wavelength of light reaching the bacteria. Chemocline erosion did not have the same effect on the population size (biomass) of the photosynthetic bacteria in Crawford Lake (this thesis) as it did in Pink Lake (Dickman, 1979). In Crawford Lake the depth of the chemocline was lowered with no apparent loss in biomass (according to bacteriochlorophyll data). A reverse current was. proposed to explain the observation. The photosynthetic bacteria contributed a significant proportion (10-60%) of the lake1s primary productivitya Direct evidence was obtained with (14C) labelling of the photosynthetic bacteria, indica.ting that the zooplankton were grazing the photosynthetic bacteria. This indicated that some of the photosynthetic bacterial productivity was assimilated into the food chain of the lake. Therefore, it was concluded that the photosynthetic bacteria made a significant contribution to the total productivity of Crawford Lake.

The use of diatom assemblages to determine paleotrophic changes in lakes

The purpose of this study was to develop a classifi cation scheme for l ake trophic status based on the relative abundance of l ake sediment diatom trophic indicator species. A total of 600 diatom frustules were counted from the surface sediments of e a ch of 30 lakes selected to repr e seni~ a continuum from u.lt ra-oligotrophic t,o fairly eutrophic but not hype r-' eutrophic conditions. Published autecological information was used to determine the trophic indicator status of each of the s pecies. A quotieht was derived by dividing the s um of all the e utrophic indicator species by the sum of all oligotrophic indicai.-:.or species. Oligo'- mesotrophic. mesotrophic and meso-eutrophic species were added to both the numerator and denomina tor. Five categories of diatom i.nferred trophic status were recognized : ultra-oligotrophic - 0'-0.2:3, oligotrophic::: 0.24-0 . 70, mesotrophic :: 0.'71 -0.99, meso-elxtrophic :: 1. 00-1. '78 and eutrophic:: 1.. 79-2. 43. But only three of these (oligotrophic:: 0-0.69, mesotrophic ::: 0 . 70'-1.69 j and eutrophic:: 1.70-2.50) proved usef ul. The present study of the relationship between diatom inferred trophic status and the literature-derived trophic status of SO lake s (which were purposely chosen to represent a broad spectrum of lakes in Canada) indicated that: 1) Based on diatom species (assemblages ) it is possible to segregate the lakes from which. th",)se diatoms were taken into three basic categories : o ligotrophic, mesotrophic and eutrophic lake types. ~~) It was not possible t,o separate meso-eutrophic and o l igo-mesotrophic lakes f rom mesotrophic l akes as the the degree of overlap betwee n the diat,om species in these lake types was extremely high. 3) Ha d mo r e ul tra-oligotroph,ic lakes been sampled it might have been possible to more a ccurately s eparate them f rom oligotrophic Jakes. 4 ) Had. more humic lakes been sampled in this s tudy I f eel it would have been possible to identify a unique diatom a ssemblage which would h a ve chara cterized t his lake type . Re gression analyses were performed using the aforementioned diatom inferred trophic index as a f unction of 1) log Sec chi transparency (r = - 0.70) 2) total phosphorus (r = 0. 77 ) and 3) chlorophyll-a (r = 0.74). Once e ach of these rel ationships had been established , it was possible to infer paleotrophic (downcore) changes in an oligotrophic lake (Barbara Lake) and in a eutrophic lake (Chemung Lake) . Barbara Llake was dominated by oligotrophic s pecies and remained oligotrophic throughout the 200-·year history r epresented by i t s 32 em long sediment core. Chemung Lake is currently dominated. by eutrophic species but went through a mesotrophic st,age which was associated with a rise in the water level of the lake followi n g dam construction in its watershed in the early 1.900 J ::;. This was followed by its reversion to it,s present day eutrophic stage (dominated by eutrophic species) possibly as a r esult of shallowing process which can be attributed to " silting' up" of the reservoir and the invasion of the l ake by Myriophyllum spjcatum (Eurasian milfoil) i n the 1970's . In addition, nutrient .:r':l.ch run"'offwhich resulted from increased human a.ctivities associated with cottage development along its shores has contribut ed to its eutrophication. There is some evidence that the rat,e o :f its prog ressive eutrophication has declined during the last decade. This was correlated with legislation enacted in the 60's and 70's in Ontario which was aimed at reducing nutrient loading from cottages.

The effects of the menstrual cycle and hormonal contraceptives on the central thermoeffector threshold temperatures and width of the interthreshold zone

Basal body temperature (BBT) and thermoeffector thresholds increase following ovulation in many women. This study investigated if solely central thermoregulatory alterations are responsible. Seven females in a non-contraceptive group (NCG) were compared with 5 monophasic contraceptive users (HCG) on separate accounts: pre-ovulation (Trial I; d 2-5) and post-ovulation (Trial 2; 4-8 d post-positive ovulation) for NCG, and active phase for HCG (d 2-5, d 18-21). During immersion in 28°C water to the axilla, participants exercised for 20-30 min on an underwater ergometer. After steadily sweating, immersion continued until metabolism increased two-fold due to shivering. Rectal (Tre) BBT was not different between trials for neither NCG (1: 37.34±0.16°C; 2: 37.35±0.27°C) nor HCG. At exercise termination, Tre forehead sweating cessation increased (P<0.05) in trial 2 irrespective of group (1: 37.55±0.39°C; 2: 37.90±0,46°C). Tre shivering onset did not increase (P>0.05) in trial 2 (1: 36.91±0.50°C; 2: 37.07±0,45°C). The widths of the interthreshold zone increased (P<0.05) in trial 2 (1: 0.64±0.22°C; 2: 0.82±0.37°C) due to the increased sweating threshold only. HCG cooled quicker (1: -l.15±0,43°C; 2: -1.00±0.50°C) than NCG participants (1: - 0.58±0.22°C; 2: -0.52±O.29°C), and tympanic (Tty) sweat thresholds were significantly (P<0.05) decreased (1: 34.76±0.54°C; 2: 35.39±0.61°C) versus NCG (l: 35.57±0.77°C; 2: 35.89±1.04°C). Lastly, Tre and Tty thresholds were significantly different (Pthresholds within the same trial. In conclusion, BBT is not a reliable indicator of ovulation, only the central thermoregulatory drive for sweating is altered by menstrual phase, contraceptive users have enhanced thermal sensitivities, and Tty opposed to Tre provides different measures of core temperature.