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1
Almarshad, Mohammad. "Strategic thinking in Jordanian publicly quoted companies." Thesis, University of Huddersfield, 2013. http://eprints.hud.ac.uk/id/eprint/19753/.
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Strategic thinking (ST) is a process by which managers and employees try to find alternative ways to solve problems in order to deal with rapid changes and forces in a business environment. Strategic thinking was established and has been used extensively in developed countries. However, strategic thinking in developing countries has received little attention. The research described in this thesis is an attempt to assess the extent of knowledge of and familiarity with the concept and purpose of strategic thinking, as well as to assess the extent of practice of strategic thinking factors in Jordanian publicly quoted companies. Also, this research explores the barriers which prevent the practice of strategic thinking in these companies. Data was collected by using both quantitative and qualitative methods (i.e. questionnaires and interviews) which were employed at three different levels of company structures. The questionnaires aimed to investigate knowledge of and familiarity with the concept and purpose of strategic thinking, the extent of strategic thinking practices, and the barriers which prevent the practice of strategic thinking in Jordanian publicly quoted companies. 336 questionnaires were collected from 112 Jordanian publicly quoted companies, followed by eight semi-structured interviews with eight of the companies to support the study objectives and to achieve a good understanding of strategic thinking practices in Jordanian companies. The main findings of this research are that the surveyed companies in Jordan have good knowledge of and are familiar with the concept of strategic thinking; that the age of a company has a moderate relationship with knowledge of the concept and purpose of strategic thinking, while the size of a company has no relationship with knowledge of the concept and purpose of strategic thinking; and that few differences exist between the four business sectors concerning the contribution to knowledge of and familiarity with the concept and purpose of strategic thinking. The majority of surveyed companies in Jordan use strategic thinking skills extensively in their companies. The findings also show that Jordanian publicly quoted companies face different barriers which prevent the practice of strategic thinking in their companies. The study makes an original contribution to academic and practical knowledge in the field of strategic management. This study is considered an important empirical study of strategic thinking practices in publicly quoted companies in Jordan. Some recommendations for further research have been derived from this study.
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Aldehayyat, Jehad Saleh. "Strategic planning in publicly quoted Jordanian companies." Thesis, University of Huddersfield, 2006. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.431517.
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Strategic planning was established and used in developed countries as a means to manage change in the environment. Over time the planning research and wisdom came from those countries. But, strategic planning in developing countries is not taken seriously and relatively little research has been conducted in these countries. The current research empirically examines the extent of practice strategic planning in publicly quoted Jordanian companies (hereafter referred to as Jordanian companies). In addition, this research explores the organisational characteristics (company size, company age and nature of business) that influence such practice. This research also reported the managers' views towards strategic planning and identified the problems associated with the implementation of strategic planning in these companies. A cross sectional survey employing a questionnaire as the data collection method was adopted. The empirical research was conducted in May-July 2004 by hand delivering the questionnaires, which were written in both Arabic and English, to the Jordanian companies. A total of 83 valid responses were received, representing a 40% response rate. Among the important contributions to the body of knowledge made by this research is that, firstly it provides empirical evidence of about important areas of strategic planning practice which include: the nature of the involvement of top and line management in planning activities; the time horizon for planning; the use of environmental scanning (internal and external); the commitment to strategic activities; the use of strategy toolsl techniques. Secondly, it provides empirical evidence about the nature of the relationship between the organisational characteristics (size, age and nature of business) and the extent of strategic planning practice. Thirdly, it is considered as a first attempt to study strategic planning in Jordanian companies through a comprehensive multidimensional approach. Fourthly, it represents an attempt to provide a better understanding of the nature and practices of strategic planning in developing countries. The results of this research provide clear evidence that Jordanian companies practice strategic planning to a greater or lesser extent; that these companies put less emphasis on internal scanning; that the participation of top management is relatively high in all strategic planning activities; that larger companies are more likely to engage in strategic planning; that these companies have given little emphasis to the implementation process; that the large companies believe that the strategy adopted is the result of a deliberate process of formulation; that the smaller companies believe that the strategy adopted has "emerged" over time.
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Shergill, Gurvinder Singh. "Strategy, structure and performance in New Zealand quoted companies." Thesis, University of Canterbury. Business Administration, 1989. http://hdl.handle.net/10092/4371.
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This thesis investigated the extent of diversification in New Zealand companies and its effect on their administrative structure and performance. So far there has not been any study done on the diversification process of New Zealand companies although rapid changes are taking place in their strategic posture. In the second half of the twentieth century the corporate profile in advanced countries like the USA and UK had undergone significant changes as a result of diversification strategies by their business corporations. Diversification is now becoming a major corporate strategy and hence it would be useful for corporate managements, shareholders, financial institutions and other corporate investors, public policy makers and researchers to know the effectiveness of diversification in improving profitability and growth, and reducing risk. Though theoretical and empirical studies done abroad by financial, economic and business researchers suggest that only certain categories of diversification would result in higher performance, a systematic study of this subject is yet to be carried out in New Zealand. This study attempts to accomplish this.
This study addresses the following issues: (1) Have the diversification strategies affected the administrative structure of the companies and which structure is the best performer? (2) Does the performance differ among the different types of diversification strategies, for example, between related and unrelated diversification? (3) Does the strategy-structure 'fit' affect the performance of companies? A multi-industry, multi-company approach involving a sample size of 103 New Zealand listed companies in the manufacturing and non-manufacturing sector is used for establishing generalizability of the findings. Adjustment for factors such as size, industry participation, leverage and risk are also incorporated in the design of the study. The performance measures used are in the dimensions of growth and profitability. Findings of this study suggest that in general diversification is useful for reducing the risk and improving the growth and profitability. However, where diversification shows significant improvement over single business strategy, it is in the areas of reduction of risk and improving overall performance. Related diversified companies performed better than the unrelated diversifiers. Regarding the structure, division ally organized companies are having better performance, followed by holding and functional structure. Companies in the strategy-structure 'match' group are having superior performance than the mis-matched category. Finally this study discusses the implications of the findings and suggests areas for future research.
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Sadler, Graham Vernon. "Executive compensation & share options in UK quoted companies." Thesis, University of Warwick, 1999. http://wrap.warwick.ac.uk/36372/.
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The topic of executive compensation has recently emerged as a legitimate field for academic study. The rapid growth in publications has almost been matched by the well-publicised growth in CEO remuneration. From the time of the first utility privatisation in the UK, right up to current day, the topic of board room pay has rarely been out of the news headlines or the academic journals. This thesis makes several new contributions to the executive compensation literature, primarily by providing an in depth analysis of the executive option holdings of directors in the UK. Data on this aspect of executive compensation has until recently been unavailable and as such this thesis represents the first work in the UK to fully incorporate this element of remuneration for a large sample of companies. Executive options have become an increasingly significant component in executive compensation, yet their valuation and the incentive effects they create are relatively poorly understood. This thesis attempts to undo these shortcomings by providing a thorough analysis of the determinants and consequences of the level of option information disclosure. Furthermore, it develops the rational for granting executive options and describes the creation and distribution of the pay for performance sensitivities created by holdings of executive options. Finally, it deals with valuation issues that are particular to executive options.
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Florou, Annita. "An empirical investigation into top management turnover in UK quoted companies." Thesis, University of Warwick, 2001. http://wrap.warwick.ac.uk/105014/.
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The present research analyses the determinants and the implications of senior management departures in the UK. Based on a sample of the 460 largest UK companies by market capitalisation over 1990-1998, and using regression techniques, this study investigates the event of top management turnover in three empirical chapters. The first one documents the circumstances under which poor firm performance may lead to a CEO job separation. The second chapter explores the organisational consequences of CEO turnover by modelling - for the first time in the UK - Chairman turnover at the time of CEO departure. The last empirical chapter deals with the implications of CEO turnover on investment choices. The most important methodological advancement is the rigorous and comprehensive classification of management departures, which increases significantly the power of the tests considered in the thesis. The provision of additional evidence on the conflicting issue of managerial entrenchment, the modelling of Chairman turnover and the investigation of the role of equity-based compensation in mitigating opportunistic managerial incentives are among the conceptual contributions of the study. The primary findings of the thesis can be summarised as follows. Firstly in terms of top management departures, CEO turnover is linked with poor firm performance although the latter must fall significantly in order to increase the turnover likelihood. This disciplining effect seems to have not become stronger over time and, CEOs do not appear to become entrenched at high ownership levels. Secondly with regard to Chairman turnover, there is evidence that some Chairmen also depart when the CEO turns-over, especially following poor company performance or CEO dismissals. Outside CEO succession, on the other hand, does not appear to be associated with additional increases in the Chairman turnover likelihood. Finally with respect to investment, it appears that CEOs threatened by forced termination, tend to cut down investment prior to their departure in order to increase reported income and “save” their jobs. In contrast, retiring CEOs do not engage in opportunistic behaviour, even if they own a small fraction of the company's equity.
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Al-Malkawi, Husam-Aladin Nizar Y., University of Western Sydney, College of Law and Business, and School of Economics and Finance. "Dividend policy of publicly quoted companies in emerging markets : the case of Jordan." THESIS_CLAB_EFI_Al-Malkawi_H.xml, 2005. http://handle.uws.edu.au:8081/1959.7/819.
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The determinants of corporate dividend policy remain controversial despite half a century of active research. Over that time a number of competing theories of dividend policy have been proposed, but no consensus has been reached about their explanatory power. This thesis examines the determinants of dividend policy of publicly quoted companies in Jordan as a case study of an emerging market. The study uses a firm-level panel data set of all publicly traded firms on the Ammam Stock Exchange between 1989 and 2000. Nine research hypotheses are developed, which are used to represent the main theories of corporate dividends. The results of studies conducted in this thesis suggest that the proportion of stocks held by insiders and state ownership significantly affect the amount of dividends paid, but not the decision to pay dividends. Larger, mature, profitable firms with less investment opportunities are more likely to pay dividends. These factors are found to also positively affect the level of dividends. Results provide no support for the signalling hypothesis. The thesis concludes with a discussion of some of the implications of all results and suggestions for further research.<br>Doctor of Philosophy (Finance)
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Al-Malkawi, Husam-Aldin Nizar Y. "Dividend policy of publicly quoted companies in emerging markets the case of Jordan /." View Thesis, 2005. http://library.uws.edu.au/adt-NUWS/public/adt-NUWS20050804.103934/index.html.
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Thesis (Ph.D.) -- University of Western Sydney, 2005.<br>"A thesis submitted in fulfilment of the requirements of the degree of Doctor of Philosophy (Finance), February 2005, School of Economics and Finance, University of Western Sydney" Includes bibliography.
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Marston, Claire Lesley. "Company communications with analysts and fund managers : a study of the investor relations activities of large UK quoted companies." Thesis, University of Glasgow, 1993. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.339004.
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Sanusi, Muhammad Surajo. "Market efficiency, volatility behaviour and asset pricing analysis of the oil & gas companies quoted on the London Stock Exchange." Thesis, Robert Gordon University, 2015. http://hdl.handle.net/10059/1243.
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This research assessed market efficiency, volatility behaviour, asset pricing, and oil price risk exposure of the oil and gas companies quoted on the London Stock Exchange with the aim of providing fresh evidence on the pricing dynamics in this sector. In market efficiency analysis, efficient market hypothesis (EMH) and random walk hypothesis were tested using a mix of statistical tools such as Autocorrelation Function, Ljung-Box Q-Statistics, Runs Test, Variance Ratio Test, and BDS test for independence. To confirm the results from these parametric and non-parametric tools, technical trading and filter rules, and moving average based rules were also employed to assess the possibility of making abnormal profit from the stocks under study. In seasonality analysis, stock returns were tested for the day-of-the-week and month-of-the-year effects. Volatility processes, estimation, and forecasting were undertaken using both asymmetric and symmetric volatility models such as GARCH (1,1) and Threshold ARCH or TARCH (1,1,1) to investigate the volatility behaviour of stock returns. To determine the effect of an exogenous variable on volatility, Brent crude oil price was used in the models formulated as a variance regressor for the assessment of its impact on volatility. The models were then used to forecast the price volatility taking note of the forecasting errors for the determination of the most effective forecasting model. International oil price risk exposure of the oil and gas sector was measured using a multi-factor asset pricing model similar to that developed by Fama and French (1993). Factors used in the asset pricing model are assessed for statistical significance and relevance in the pricing of oil and gas stocks. Data used in the study were mainly the adjusted daily closing prices of oil and gas companies quoted on the exchange. Five indices of FTSE All Share, FTSE 100, FTSE UK Oil and Gas, FTSE UK Oil and Gas Producers, and FTSE AIM SS Oil and Gas were also included in the analysis. Our findings suggest that technical trading rules cannot be used to gain abnormal returns, which could be regarded as a sign for weak form market efficiency. The results from seasonality analysis have not shown any day-of-the-week or monthly effect in stock returns. The pattern of stock returns’ volatility can be estimated and forecasted, although the relationship between risk and return cannot be generalised. On a similar note, the relationship between volatility attributes and the efficient market hypothesis cannot be clearly established. However, we have established that volatility modelling can significantly measure the quantum of risk in the oil and gas sector. Market risk, oil price risk, size and book-to-market related factors in asset pricing models were found to be relevant in the determination of asset prices of the oil and gas companies.
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Moaveni, Ameneh, and Malin Ljungberg. "Verkligt värde : implementation of IAS 40 in quoted real estate companies on the Stockholm stock exchange, and effect on the company key ratios." Thesis, Södertörn University College, School of Business Studies, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-762.
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<p>Background: Within real estate companies assets according to IFRS/ IAS 40 should be valued at fair value, to compare with previous valuation criteria according to which real estate should valued at cost. Two models can be used within IAS 40, these are value at cost and fair value. When valued at cost the real estate value in the balance sheet should be specified at cost. The method chosen by the company should be used for all real estate within the company except for the premises used by the company. </p><p>Purpose: The purpose of the study is to analyse and evaluate how real estate companies experienced the problems that arose when converting to IAS 40, and to analyse the effects on the companies key ratios as a result of the change of accounting method. Key ratios examined were, return on equity, solvency ratio, P/E-ratio and debt/equity ratio. </p><p>Method: The essay is made on a qualitative effort in the form of four interviews with experts within the chosen subject area. The compilation of key ratio is made in a quantitative form and is made up of secondary data. Conclusions: With the implementing of IAS 40 for real estate accounting, the ability to better compare the accounting between real estate companies increased, even though all companies do not account for their real estate in the same way. It appeared that the regulation requirements need to be adjusted and formed in a way that better matches the reality in which real estate companies act. Valuation with fair value proved to have both advantages and disadvantages. The advantage was that the comparability and the fair picture between real estate companies increased. The disadvantage was that the valuation of the fair value gives an increased risk for the real estate companies to be over- or undervalued. A wrong valuation gives a wrong picture of the real estate companies and effects the key ratios in a volatile manner.</p>
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Amaral, José Pedro Pacheco do. "Responsabilidade do cedente de quotas pelo passivo oculto da sociedade limitada." Pontifícia Universidade Católica de São Paulo, 2018. https://tede2.pucsp.br/handle/handle/20993.
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Previous issue date: 2018-02-28<br>Fundação São Paulo - FUNDASP<br>Pontifícia Universidade Católica de São Paulo - PUCSP<br>This study aims at addressing the liability of the assignor of shares in a limited company regarding
the hidden liabilities verified in the limited company after the acquisition of shares by the assignee.
To this end, based on a broad conceptual framework of the proposed theme, our study was divided
into three parts. Firstly, we present the core elements for the subsequent confrontation of the proposed
problematic: the concepts of limited company and of social capital; the characteristics of the shares,
a will that will be transferred from the assignor to the assignee; the legal transaction of the assignment
of shares; the purchase price of shares; and the concept of hidden liabilities. Secondly, we approach
the institutes provided by law that may possibly support the liability of the assignor’s liability by the
hidden liabilities. In this perspective, we address the interpretation of Article 1,003, sole paragraph
of the Brazilian Civil Code: the institutes of error, fraud and injury; the redhibitory defects; the
possibility of annulment of the legal transaction; and the analogical application of Article 1,146 of
the Brazilian Civil Code to the assignment of shares. Finally, in the last part, we address the
contractual practices applied to characterize or even to prevent the assignor’s liability by the hidden
liabilities. We approach the due diligence of the representations and warranties clauses included in
the share assignment contract, as well as of the clauses included in the share assignment contract that
deal expressly with the transferor's liability by the hidden liabilities<br>A presente dissertação de mestrado versa sobre a responsabilidade do cedente de quotas de sociedade
limitada em função de passivos não contabilizados (ocultos) verificados na sociedade limitada após
a aquisição de quotas pelo cessionário. Para esse fim, apoiados em ampla bibliografia sobre o tema
proposto, o estudo foi dividido em três partes. Na primeira, apresentamos os elementos fundamentais
para o posterior enfrentamento da problemática proposta: os conceitos de sociedade limitada e de
capital social; as características das quotas, bem que será transferido do cedente ao cessionário; o
negócio jurídico de transferência das quotas; o preço de aquisição das quotas; e o conceito de passivo
oculto. Na segunda parte, expomos os institutos previstos em lei que eventualmente possam embasar
a responsabilidade do cedente pelo passivo oculto. Nesse sentido, abordamos a interpretação do
parágrafo único do art. 1.003 do Código Civil: os institutos do erro, dolo e lesão; os vícios redibitórios;
a possibilidade de anulação do negócio jurídico; e a aplicação analógica do art. 1.146 do Código Civil
à cessão de quotas. Finalmente, na última parte, tratamos de práticas contratuais utilizadas para
caracterizar ou mesmo prevenir a responsabilidade do cedente pelo passivo oculto. No caso,
abordamos a due diligence das cláusulas de representations and warranties inseridas em contratos de
cessão de quotas, assim como das próprias cláusulas inseridas em contratos de cessão de quotas que
tratam, expressamente, da responsabilidade do cedente pelo passivo oculto
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Wallgren, Frida-Maria, and Philip Andersson. "Board Gender Diversity and Firm Financial Performance : A Study of 100 Companies Listed on Nasdaq Stockholm." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Företagsekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-39464.
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Background: This thesis was written in context of the debate concerning gender equality and female representation on company boards. Gender quota legislation have been implemented by various countries on a national level, and a similar regulation was proposed by the European Commission. Legislation regarding board gender diversity have given rise to the discussion on the actual effects of female director’s on board effectiveness and firm financial performance. Purpose: The aim of the study is to evaluate the relationship between gender diversity on boards and firm financial results. A sample of 100 Swedish companies listed on Nasdaq Stockholm for the time period 2013-2016 is analysed. Method: The study had a quantitative approach and used a panel data methodology. The data analysis was conducted using Ordinary Least Square Regression. Board gender diversity was measured by four variables including the diversity measurements Blau and Shannon indices, and Tobin’s Q was deployed as the market-based measurement of financial performance. Conclusion: The results of the data analysis indicate that the presence of one or more women has a positive effect on financial performance, which contradicts previous findings. Also, it is found that higher gender diversity on boards influenced firm performance positively, which conformed to the majority of the previous findings.
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Hansen, Casper Mose, and Clementina Chifuel Manasseh. "Breaking the glass ceiling : How to increase diversity in boards of directors in small and medium-sized enterprises in Denmark." Thesis, Malmö universitet, Institutionen för Urbana Studier (US), 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:mau:diva-44441.
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Breaking the glass ceiling of boards of directors has been a hot topic globally for over a decade without any significant results. With an increase in demand for sustainable companies, the current composition of most of the boards of directors is contradictory, where homogeneous boards of directors are more a rule than an exception. Contradicting the fact that diverse teams are proven to make better, long-termed, and more sustainable decisions. Small and medium-sized enterprises are often neglected in the debate to increase diversity in boards of directors, even though they hold most of all boards of directors’ positions. Investigating the small and medium-sized enterprises this paper aims to explore how to break the glass ceiling of the boards of directors in Denmark. Similar to Norway where quotas with boardrooms have been introduced in 2008, this study also wants to reexamine the general attitude towards hard legislation or find alternatives in form of other legislation in Denmark. Therefore, it is essential to understand the dynamics and habits of the boards of directors. This study has through semi-structured interviews investigated the culture of boards of directors to find the barriers of the boardrooms and how to break them down. A recruitment company has tried to offer a new way of recruiting for boards of directors through open positions. Here has the researchers conducted qualitative research to investigate their impact on gender and age in boards of directors, to see if the open positions can exhilarate the implementation of diversity in the board rooms. The results of the study show that there is a need to educate small and medium-sized enterprises on the benefits of diverse boards of directors. The boards of directors are primarily recruited through networks of its members, making it difficult to increase diversity. The reason for recruiting through networks is primarily due to a lack of understanding of both the function of boards of directors and a wish to keep the information of the company close to themselves. The overall attitude towards legislation is mixed with a small overweight against quotas. Mainly from an individual point of view is quotas are seen as an undesirable means for increasing diversity in boards of directors. The recruitment company has been proven cable of recruiting younger candidates. However, not significantly change the percentages of female representations where only a slight increase of women in some positions is seen.
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Pereira, Joana Sofia Azevedo. "O impacto da presença de mulheres em cargos de administração na qualidade dos resultados : evidência das empresas europeias cotadas." Master's thesis, Instituto Superior de Economia e Gestão, 2019. http://hdl.handle.net/10400.5/19996.
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Mestrado em Contabilidade, Fiscalidade e Finanças Empresariais<br>A presente investigação analisa a associação, direta e indireta, de mulheres no conselho de administração de 157 empresas europeias cotadas na qualidade dos resultados, no período de 2010 a 2017. É utilizado um modelo de regressões para estimar a associação das diretoras com a qualidade dos resultados, desempenho financeiro e cumprimento dos padrões sociais. Tendo por base o modelo de Jones (Jones, 1991), conforme sugerido por Kothari, Leone & Wasley (2005), foi utilizado o valor dos accruals discricionários. O estudo permite concluir que a presença de mulheres nos cargos de administração não está associada à gestão de resultados e, por conseguinte, não impacta na qualidade dos mesmos. Indiretamente, afere-se que, embora a sua presença não se repercuta no desempenho financeiro das organizações, estas incentivam comportamentos socialmente responsáveis refletindo-se num maior score de responsabilidade social empresarial. É de salientar que as empresas que possuem um score de responsabilidade social empresarial mais baixo não são tentadas a manipular os resultados ou a geri-los com o propósito de os aumentar ou reduzir. As análises adicionais fornecem evidências de que a existência de quotas de género, obrigatórias ou facultativas, não impactam na prática de manipulação dos resultados, embora a pressão para integrar mulheres nos conselhos de administração diminua o investimento em práticas de responsabilidade social.<br>The present investigation analyzes the direct and indirect association of women on the corporate boards of 157 listed European companies on earnings quality, from 2010 to 2017. It uses a regression model to estimate the association of female directors with earnings quality, financial performance and social compliance. Based on the Jones model (Jones, 1991), as suggested by Kothari, Leone & Wasley (2005), the value of discretionary accruals is used. This study concludes that the presence of women in top management is not associated with earnings management and, therefore, does not affect their quality. Indirectly, it assesses that, although their presence does not affect the firms' financial performance, they encourage socially responsible behaviors, reflecting on a higher corporate social responsibility score. In companies with a lower environmental, social and governance score, they are not tempted to manipulate earnings or engage with the purpose of increasing or reducing them. Additional analysis provides evidence that mandatory or voluntary gender quotas does not affect earnings management, although pressure to integrate women on boards reduce investment in socially responsible practices.<br>info:eu-repo/semantics/publishedVersion
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Chen, Kuo-Ching, and 陳國卿. "A study on the china market entranc strategy:a case of Taiwan quoted electronic companies." Thesis, 2005. http://ndltd.ncl.edu.tw/handle/09683000182835537805.
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"公司治理结构对盈余管理的影响研究—基于民营类上市公司的实证分析". Doctoral diss., 2019. http://hdl.handle.net/2286/R.I.53518.
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abstract: 当前，上市公司的盈余管理问题已是我国资本市场中普遍存在的突出问题。一般来说，一些企业为了满足资本市场对于上市、增发等条件的要求,以及为有效推动企业的并购、重组等行为的顺利实现,甚至为了谋求公司管理层的个别利益,往往运用盈余管理等举措实施公司财报及关键指标的粉饰修正，让不知情的股民蒙受一定的损失。普遍分析显示，我国股市中民营企业比其他企业遭遇的问题和压力更多、更大、更突出,因此民营企业从客观上来说拥有更强的盈余管理动机。而从当前我国资本市场的实际情况来看，我国相关专家学者对盈余管理的系统性深入研究，一般都瞄准了上市企业群体或持续亏损企业，对盈余管理的研究不系统、不全面、不深入，这将对我国进一步提升盈余管理监管水平构成一定不利影响。当前，由于我国民企在自身管理及发展动力方面的特殊性,我国民企的管理、盈余管理特点和国外上市公司还存在着很大的不同,进一步深入研究我国民企上市公司自身管理方面的突出特点，以及其对企业盈余管理等方面的深层次影响,有助于监管层对症下药，更有针对性地研究出台全新的监管措施,进一步提升管理水平。这还可以为公司发展的决策层及相关会计信息使用人员提供一定的决策参考, 因此其拥有十分重要的意义。
本文首先认真总结分析了有关上市企业治理结构和盈余管理等方面的历史文献资料，依托当前资本市场上普遍运用的委托代理、内部人控制和契约等理论，系统研究了我国民企上市公司在自身治理结构方面的突出特征以及其对盈余管理方面所构成影响的深层次原理。在此基础上，本文通过2015-2017年我国上市企业数据，基于截面Jones模型对民营企业和非民营企业盈余管理程度进行测算和比较分析，发现民营企业盈余管理程度更高；从四个层面系统研究民企公司自身的治理结构突出特点,设立回归模型论证了民营企业独特的公司治理结构特征对盈余管理程度确实会产生影响；最后,本文进一步利用修正的费尔萨姆一奥尔森估价模型对民营上市公司盈余管理有公司价值的关系进行了验证，发现两者具有显著相关性。<br>Dissertation/Thesis<br>Doctoral Dissertation Business Administration 2019
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Santos, Raquel Alexandra Carapinha dos. "Scorecard de performance: desenvolvimento de um modelo conceptual para sociedades cotadas." Master's thesis, 2014. http://hdl.handle.net/10071/8483.
Full textAbstract:
A metodologia do balanced scorecard tem vindo a ser cada vez mais utilizada nas empresas como importante ferramenta de avaliação de performance. Ao longo dos anos, tem constituído objeto de análise nas organizações, que posteriormente identificam o grau de sucesso da sua implementação. Neste contexto, considerámos interessante do ponto de vista académico e organizacional, o estudo deste modelo aplicado às empresas não financeiras que integram o índice de referência do mercado de capitais português.
Este trabalho foi consolidado num quadro teórico, no qual é explicado a interligação dos conceitos de sistema de informação, controlo de gestão e balanced scorecard. Utilizámos um tipo de investigação interpretativo, e o método de investigação escolhido foi o estudo de caso.
Para a recolha da informação sobre as organizações, consultámos os websites de cada uma e procedemos à análise dos Relatórios de Contas e Relatórios de Sustentabilidade (a 31 de Dezembro de 2012). Depois de recolhida a informação sobre: estratégias e consequente identificação dos objetivos estratégicos, indicadores financeiros e não financeiros, procedemos à elaboração de um Scorecard de Performance Conceptual para sociedades cotadas.<br>The methodology of the balanced scorecard has increasingly being used in companies as an important tool of strategic management. Over the years it has been used as an object of analysis in organizations which subsequently identify the degree of success of their implementation. In this context we consider interesting from an academic and organizational point of view the study of this model applied to companies that integrate the reference index of the Portuguese capital market.
This work was consolidated in a theoretical framework in which it is explained the interconnection of the concepts of information system, management control and balanced scorecard. We used a kind of interpretative research and the research method chosen was the case study.
For the collection of information about the organizations we have consulted the websites of each one of them and proceeded to the examination of the auditors and sustainability reports (in 31st December 2012). After having collected the information about: strategies and subsequent identification of strategic objectives, financial and non-financial indicators, we are drawing up a Conceptual Balanced Scorecard for this type of organizations.
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陳麟元. "Analysis of capital investment -study of semi-conductor quoated companies." Thesis, 1998. http://ndltd.ncl.edu.tw/handle/61036316119722555184.
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Câmara, Vanessa Araújo. "Direito à informação nas sociedades por quotas." Master's thesis, 2013. http://hdl.handle.net/10071/6662.
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A presente dissertação tem como objetivo primordial demonstrar que o direito à informação nas sociedades por quotas consiste num tema corrente nos dias de hoje. Iremos verificar que existem diferentes posições doutrinárias quanto a algumas questões pertinentes que irão surgir ao longo do trabalho.
Como se sabe, está contemplado no Código das Sociedades Comerciais, que os sócios de uma sociedade têm o direito de se informarem. Sem dúvida, que foi pertinente analisar o direito à informação nas sociedades por quotas, por esta ser um tipo de sociedade que existe com bastante frequência em Portugal.
O objetivo deste trabalho foi tentar ser o mais abrangente possível e demonstrar todas as dificuldades que podem existir no direito à informação nas sociedades por quotas.
Verificaremos que este tema apresenta questões de grande complexidade pois convirá realçar que para percebermos o direito à informação neste tipo de sociedades é necessário analisar o seu objeto, os titulares, os sujeitos, os limites, onde e como são exercidos o direito à informação, as possibilidades de recusa, percebermos em que consiste o inquérito judicial e a importância de mencionar a responsabilidade civil e criminal.
Analisaram-se minuciosamente os artigos 214.º, 215.º e 216.º do Código das Sociedades Comerciais pois são naqueles artigos que estão previstos no direito à informação nas sociedades por quotas.
Assim, pretende-se, sobretudo, fazer um estudo sobre o direito à informação nas sociedades por quotas, examinando todos os artigos previstos na legislação atual e que são pertinentes para entendermos algumas questões que são mencionadas nos capítulos deste trabalho.<br>This dissertation has the primary objective of demonstrating that the right to information on private limited companies is nowadays a current theme. We will confirm that there are different doctrinal positions about some relevant questions that will be posed in this paper.
As it is known, the right to information of the shareholders of a private limited company is provided in the Commercial Companies Code. We determined that it was relevant to analyze the right to information on private limited companies mainly because these are one of the most common types of companies in Portugal.
This paper attempts to be as comprehensive as possible and to demonstrate all challenges that may arise regarding the right to information on private limited companies.
We will confirm that this is a very complex topic. We will emphasize, that to understand the right to information on this type of companies, it is necessary to analyze the corporate objects, holders, subjects, limitations, the practices used to implement the right to information as well as the possibilities for refusal. Furthermore, we will reiterate the need to understand the judicial review context and the importance of including the civil and criminal responsibilities.
We analyzed, in detail, the articles 214.º, 215.º and 216.º of the Commercial Companies Code as these articles contain the provisions on the right to information on private limited companies.
In summary, we attempted to study the right to information on private limited companies by examining all the relevant articles provided in the current legislation that would help us to understand the questions presented throughout the chapters of this paper.
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Gandra, Ana Filipa Neto. "The performance of dominant companies : portfolio performance evaluation." Master's thesis, 2020. http://hdl.handle.net/10400.14/31878.
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Several studies look at the relationship between market share and rate of return, but there isn’t a consensus about the topic. I studied the particular case of companies that dominate their sector, with the goal of discovering if they outperformed the market. If these companies actually performed better than the market, I would have discovered a good investment strategy. I used OLS regression and Newey-West standard errors to find out the abnormal returns of the portfolios of dominant companies I constructed. The results using OLS regression were, in general, statistically non-significant, which indicated that investing in dominant companies doesn’t seem to be a good investment strategy, as it doesn’t have any advantage when compared to investing in the market. However, I obtained significant results by using Newey-West standard errors. The alphas’ estimations were positive, but very low, indicating that investing in dominant companies is only slightly better than investing in the market portfolio. Nevertheless, I think it is important to conduct more studies about this matter, as it is possible to obtain a better sample and look at the problem from various angles.<br>Vários estudos analisam a relação entre quota de mercado e taxa de retorno, mas não há um consenso neste tópico. Eu estudei o caso particular das empresas que dominam o seu setor, com o objetivo de descobrir se teriam uma melhor performance do que o mercado. Se de facto essas empresas tivessem uma melhor performance do que o mercado, teria descoberto uma boa estratégia de investimento. Usei uma regressão OLS e desvios padrão de Newey-West para descobrir os retornos anormais dos portfolios de empresas dominantes que eu construí. Os resultados obtidos através de regressão OLS não eram significativos, o que indica que investir em empresas dominantes não seria uma boa estratégia de investimento, visto que não apresenta nenhuma vantagem em relação a investir no mercado. No entanto, obtive resultados com significância estatística ao utilizar desvios padrão de Newey-West. As estimativas dos alfas eram positivas, mas muito baixas, o que indica que investir em empresas dominantes é apenas ligeiramente melhor do que investir no portfolio de mercado. Ainda assim, acho que é importante realizar mais estudos sobre este tópico, uma vez que é possível obter uma melhor amostra e tratar o problema de vários ângulos.
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Santos, Catarina Isabel Domingos Lopes dos. "Governação de sociedades por quotas familiares : alguns aspetos jurídico-societários." Master's thesis, 2019. http://hdl.handle.net/10400.14/30372.
Full textAbstract:
Apesar de à primeira vista podermos pensar que são as grandes sociedades que assumem um papel preponderante nas trocas mercantis, por serem as que maior publicidade têm e, de certo modo, as que têm um nome mais sonante na economia, facto é que as pequenas empresas fazem parte do tecido societário económico e são elas que nele têm maior expressão, tanto no caso português como mundialmente, assumindo, desta forma, um papel importante. Estudar as sociedades por quotas familiares parece-nos urgente, não apenas porque se trata do tipo societário com mais expressão em Portugal, mas também porque no seio familiar surgem muitas vezes conflitos que acabam por se refletir no negócio da família, pondo-o em causa. Além disso, e não obstante ser do conhecimento geral este tipo de conflitos, em Portugal ainda não se criou legislação específica nem se individualizou este género de problemas. O presente estudo enumera algumas das questões que possam surgir nas sociedades por quotas familiares e tentar arranjar-lhes solução.<br>Despite at first glance we may get the feeling that the big companies are the ones ruling trade commerce, since they have bigger advertisement and, in a way, stronger economy name, fact is that smaller companies are part of the market and are the ones with the biggest leverage, not only in Portugal but in the world as well, having an important part. Studying Family Private Limited Companies seems pressing, not only because it is the most represented company type in Portugal, but also because conflicts emerging inside families that run these companies end up affecting the family business, putting it at risk. Despite being common knowledge, these type of conflicts have no specific regulation in Portugal, nor any of these issues have been spotlighted. This essay lists some matters that may come up in family private limited companies and search for possible solutions.
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Chuva, Dilma Antónia Reis Esteves. "A exclusão judicial de sócio nas sociedades por quotas à luz do ordenamento jurídico angolano." Master's thesis, 2018. http://hdl.handle.net/10437/9415.
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Orientação: Manuel Nogueira Serens<br>O trabalho que aqui se apresenta incide sobre a exclusão de sócio nas sociedades por quotas, sobretudo na sua vertente judicial. Admitindo-se o facto de a relação societária poder pautar-se pelo princípio da lealdade, correspondendo este ao comportamento em consonância com o interesse social. As sociedades são confrontadas com comportamentos dos sócios que comprometem a estabilidade e a continuidade da empresa, sendo por isso, contrário ao interesse social. O objectivo foi identificar uma série de comportamentos, bem como a sua censurabilidade, susceptíveis de tornarem a relação societária inexigível, motivando a sociedade a deliberação e propositura de uma acção judicial com vista à exclusão do sócio em causa. Sendo que, no uso da sua função jurisdicional são os juízes incumbidos da tarefa de apreciar os processos submetidos, a juízo pelas sociedades comerciais com vista `a exclusão de um sócio, pois, incidem sobre causas que a lei ou o contrato não regulam ou sobre causas genéricas, cabendo exclusivamente aos administradores da justiça a decisão final. Para a condução do referido estudo houve recurso aos manuais e de sobremaneira da jurisprudência que abordam o tema escolhido. Verificou-se a destreza dos tribunais bem como dos doutrinários na relação com o tema. Pelo que, o mesmo contribui para melhor compreensão quer do público leitor, quer dos próprios comerciantes e empresários na qualidade de sócios das sociedades comerciais.<br>The work presented here focuses on the exclusion of partners in limited companies, especially in its judicial aspect. Assuming that the corporate relationship can be based on the principle of loyalty, which corresponds to behavior in line with social interest. Companies are confronted with behaviors of the partners that compromise the stability and continuity of the company, being therefore, contrary to the social interest. The objective was to identify a series of behavior and their censorship, which could render the company's relationship unenforceable, motivating the company to deliberate and file a lawsuit to exclude the partner in question. In the exercise of its judicial function, judges are entrusted with the task of assessing the cases brought by commercial companies with a view to the exclusion of a partner, since they relate to cases the law or the contract does not regulate or about causes, with only the administrators of the courts being responsible for the final decision. For the conduction of this study, there was recourse to the manuals and in excess of the jurisprudence that approach the chosen theme. The dexterity of the courts as well as of the doctrinaires in the relation with the subject was verified. As such, it contributes to a better understanding both of the readership and of the traders themselves as business partners.
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Pereira, Ana Otília Esteves da Costa. "Vinculada ou não vinculada, eis a questão! A Vinculação das sociedades comerciais por quotas e anónimas: análise do seu regime à luz da Lei e da Jurisprudência Portuguesa." Master's thesis, 2017. http://hdl.handle.net/10316/83873.
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Dissertação de Mestrado em Direito apresentada à Faculdade de Direito<br>A presente dissertação propõe uma análise ao regime da vinculação das sociedades comerciais de capitais: anónimas e por quotas, e apenas estas, não sendo objecto de análise qualquer outro tipo societário.Encontra o seu objectivo primordial na vontade de indagar pela resposta a uma questão bastante controversa na jurisprudência portuguesa: “Vigorando (supletiva ou estatutariamente) a conjunção, basta um administrador actuar para a sociedade ficar vinculada?”Enveredando pela corrente que responde negativamente a tal interrogação, a presente dissertação pretende justificar a sua posição através da análise do regime da vinculação das sociedades anónimas e sociedades por quotas, assim como analisar os seus mecanismos e requisitos fundamentais para o efeito.Simultaneamente, assume o compromisso de desbravar a argumentação oferecida pela corrente doutrinária e jurisprudencial contrária, que propugna pela suficiência da actuação isolada de um dos administradores, ou gerentes, mesmo quando vigora supletivamente o método da conjunção. Para tanto, cumpre contestar a sua argumentação que muito sinteticamente se reduz a quatro principais argumentos: na interpretação que dão ao disposto no artigo 9.º, n.º3, da 1.ª Directiva do Conselho da CEE, de 9 de Março de 1968; na insuficiência das normas do Código Registo Comercial, e, principalmente, apresentam como pilar basilar a (suposta) primazia dos interesses de terceiros e as “ exigências de dinamismo e certeza da vida económica e as práticas comerciais”.Para alcançar os objectivos a presente tese traça o percurso histórico da legislação comercial portuguesa indagando ainda sobre as soluções que países vizinhos, tais como a Alemanha, a França, a Inglaterra e Itália adoptaram nos respectivos ordenamentos jurídicos.<br>The present thesis proposes an analysis of the binding system regarding commercial companies of capitals: public limited and limited liability companies, and only these, not being subject of analysis any other type of company.It finds its main goal in the motivation to look for the answer to a very controversial question in the Portuguese jurisprudence: "Remaining (statutory or supplementary) the conjunction, is it enough for an administrator to act for a society to be linked?"Adopting the opinion that responds negatively to this question, this study intends to justify its conviction by analysing the regime of the bonding of public limited and limited liability companies, as well as analyse their mechanisms and fundamental requirements for this purpose.At the same time, it pretends to expose the arguments offered by the current doctrine and contrary jurisprudence that advocates for the sufficiency of the isolated action of one of the administrators, or managers, even when the conjunction method is in force.In order to do so, it is necessary to contest their argument, which is very concise in four main arguments: in their interpretation of Article 9 no. 3 of the First Council Directive of the EEC of 9 March 1968 ; In the lack of the rules of the Commercial Registry Code, and, above all, they present as a basic support of the primacy of the interests of third parties and the "demands of dynamism and certainty of economic life and commercial practices".In order to achieve the aims, this thesis presents the history of the Portuguese commercial legislation and questions the solutions adopted by neighbour countries such as Germany, France, England and Italy in their respective legal systems.
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Mesquita, Patrícia Nunes. "Direito de voto no consentimento para a cessão de quotas." Master's thesis, 2019. http://hdl.handle.net/10400.14/28438.
Full textAbstract:
O legislador forneceu aos sócios um amplo espaço para autorregulação no regime
das Sociedades por Quotas. A exigência de consentimento da sociedade para a cessão,
vista como uma forma de controlo do substrato pessoal da sociedade, tem feito surgir
alguns problemas quanto à possibilidade de o sócio cedente exercer o seu direito ao voto
na deliberação relativa a esse consentimento. O sócio tem, praticamente, como único meio
de saída voluntária da sociedade a cessão de quotas, o que não implica, necessariamente,
que ele utilize a cessão para tal. Caso o sócio abandone a sociedade através da cessão, a
discussão tem lugar num contexto de compreensão da axiologia do direito de voto e da
ratio das restrições à cedibilidade das participações sociais. Caso o sócio permaneça na
sociedade apesar da cessão, estamos perante uma questão de conflito de interesses.<br>The legislator provided the shareholders with ample room for self-regulation in
the Private Limited Companies regime. The requirement of consent of the company for
the transfer of shares, seen has a way of controlling the human composition of the
company, has raised some problems regarding the possibility of the transferor
shareholder exercising his right to vote in the deliberation of consent. The shareholder’s
only mean of exiting the company is through the transfer of quota, but this doesn’t
necessarily imply that he uses the transfer for such. If the shareholder exits the company
through the transfer, the discussion takes place in a context of understanding the voting
rights’ axiology and the ratio of the restrictions to the shares transferability. If the
shareholder remains in the company, the problem is a matter of conflict of interests.
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Lopes, Gonçalo Pais Ribeiro Pinto. "The impact of the acquisition of fintech companies in bank stock prices." Master's thesis, 2020. http://hdl.handle.net/10071/20648.
Full textAbstract:
The Technology Revolution has been changing the way people interact with each other, as well
as changing the way several industries operate for the last decades. This Dissertation studies
banking industry, which is one of the major industries that is undergoing a digital
transformation.
The objective of the following Dissertation is to analyze and study what impact does Fintech
have on the already-established financial companies, with a special emphasis on European
banks, as well as analyzing whether there is some specific type of Fintech company more
capable of impacting more significantly the share price of the acquirer.. With the use of the
event study methodology, it was possible to analyze how a merger or acquisition (M&A) of a
Fintech company by a financial company affects the share price of the acquirer. The present
Dissertation uses financial market data to understand if there is a positive significant effect on
the share price of the acquirer when if a Fintech M&A event occurs.
The empirical results of this Dissertation allow us to conclude that the acquisition of Fintech
companies have a positive and significant impact in the share price of the acquirer, both
European banks as well as other financial companies. In regard to the type of Fintech, the results
show that the “Digital Banking” type of Fintech is the one which has the most positive and
significant impact, while “Software” has the most negative and significant impact. The
robustness of the model was tested, and the results show that the results are globally stable.<br>A Revolução Tecnológica tem alterado de forma significativa a maneira como as pessoas
interagem umas com as outras, tal como tem mudado a maneira como várias indústrias têm
operado nas últimas décadas. Nesta Dissertação é estudada a indústria financeira, que é umas
das principais indústrias que tem sido objecto de uma transformação digital.
O objetivo desta Dissertação é analisar e estudar os impactos que as Fintech têm nas já
estabelecidas empresas financeiras, com especial ênfase para os bancos Europeus, bem como
analisar se existe alguma categoria específica de empresa Fintech que tenha um impacto mais
significativo na cotação bolsista da empresa compradora. A presente Dissertação emprega a
metodologia quantitativa de estudos de eventos, analisando como uma fusão ou aquisição
(F&A) de uma empresa Fintech por uma empresa financeira afeta a cotação bolsista da empresa
compradora. A presente Dissertação usa dados financeiros de alta frequência dos mercados,
sendo possível, através da metodologia descrita, analisar se existe um efeito positivo e
significante na cotação bolsista da empresa compradora.
Os resultados empíricos da presente Dissertação permitem concluir que a aquisição de empresas
Fintech apresenta impactos positivos e significativos na cotação bolsista das empresas
compradoras, sejam bancos europeus ou outras empresas presentes na indústria financeira.
Quanto à categoria de Fintech, os resultados mostram que as Fintech do tipo “Bancos Digitais”
são as que têm o maior impacto positivo e significante, enquanto que as do tipo “Software” são
as que têm o maior impacto negativo e significante. A robustez do modelo é igualmente testada
e os resultados finais demostram que os resultados são globalmente estáveis.
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Rodrigues, Ana Filipa Centeno Fernandes Castilho. "O Lucro e o direito ao lucro nas sociedades por quotas e anónimas contributo para a compreensão do seu regime, natureza e contexto." Master's thesis, 2016. http://hdl.handle.net/10071/13667.
Full textAbstract:
A presente dissertação insere-se no âmbito do Mestrado em Direito das Empresas, na vertente das Sociedades Comerciais, sob o tema “O Lucro e o direito ao lucro nas sociedades por quotas e anónimas – Contributo para a compreensão do seu regime, natureza e contexto”.
O objetivo incide em aprofundar o tema e contribuir para o entendimento de certas questões pertinentes.
Encontra-se contemplado no Código das Sociedades Comerciais o direito de cada membro de uma sociedade comercial a quinhoar dos lucros sociais.
A análise foi realizada com enfoque especial nas sociedades por quotas e anónimas, uma vez que são o tipo de sociedade mais frequente em Portugal.
O objetivo deste trabalho prendeu-se com a demonstração mais abrangente possível das implicações do direito ao lucro na vida da sociedade e na esfera jurídica sócios que a integram.
Este tema apresenta questões de interpretação complexas, cabendo o seu desenvolvimento à doutrina e jurisprudência, de modo que revela-se necessário analisar o seu objeto, os titulares e sujeitos envolvidos, os limites existentes, quando e de que forma é exercido o direito ao lucro, as possibilidades de desvios ao regime legal e as implicações do seu incumprimento.
Foram analisados de forma minuciosa os artigos 217º e 294º do CSC, uma vez que preveem o direito aos lucros na sociedade por quotas e anónima respetivamente.
Assim, pretende-se efetuar um estudo sobre o direito ao lucro nas sociedades comerciais, analisando os artigos previstos na legislação atual e que são pertinentes para entendermos algumas questões que são mencionadas nesta investigação.<br>The present dissertation is part of the Master in Business Law, on the side of Commercial Companies, under the theme “The Profit and the right to profits in limited companies and anonymous companies - Contribution to the understanding of its regime, nature and context”.
I aim to deepen the theme and contribute to the understanding of some relevant issues that will arise throughout the study.
It’s contemplated in the Companies Act the right of every member of a company to participate in the profit sharing.
The analysis focus on private limited and anonymous companies, since they’re the most frequent type of commercial companies in Portugal.
This work intends to demonstrate the implications of the right to profit in the company and in the legal sphere of the members that integrate the company.
This theme involves complex interpretation issues, leaving the development to doctrine and jurisprudence, proving the necessity regarding the analyze of its object, holders and subjects involved, the existing limits, when and how the right of profits is exercised, the allowed deviations from the legal regime and the implications of non-compliance.
It was analyzed in detail the articles 217 and 294 of the Companies Code, as they predict the right to profits in the private limited and anonymous companies respectively.
Thus, it’s intended, above all, to study the right to profits in commercial companies, analyzing all the articles provided by the current legislation and that are relevant to understand some issues that are mentioned in this investigation.<br>J.E.L. Classification: K19; K22
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Fonseca, Rute Maria de Jesus. "Os danos indemnizáveis pela destituição “ad nutum” : regime das sociedades por quotas e das sociedades anónimas." Master's thesis, 2019. http://hdl.handle.net/10400.14/30406.
Full textAbstract:
O nosso ordenamento jurídico, tal como a maioria dos ordenamentos jurídicos estrangeiros, prevê a regra da livre destituição. As sociedades por quotas e as sociedades anónimas podem destituir os seus administradores por ato unilateral, sem necessidade de indicação do motivo. A destituição satisfaz o interesse da sociedade, mas não deverá implicar um completo sacrifício dos interesses pessoais do administrador. O legislador previu, na reforma ao Código das Sociedades Comerciais de 2006, no n.º 5 do art. 403.º, o direito a indemnização pelos danos sofridos pelo administrador destituído sem justa causa. A indemnização poderá ser fixada contratualmente (em momento prévio ou posterior à destituição) ou nos termos gerais do Direito. A 2.ª parte desta norma prevê ainda uma limitação: a indemnização não poderá exceder o montante das remunerações que o destituído presumivelmente receberia até ao final do período para o qual foi eleito. O pedido de indemnização por parte do administrador, nos termos gerais do
Direito, tem dado origem a diversos entendimentos, nomeadamente no que se refere à possibilidade de inclusão de compensação por danos morais. Através deste estudo procuramos encontrar uma via no sentido de dar resposta a estas questões, que são colocadas nos nossos tribunais sempre que está em causa a
efetivação deste direito indemnizatório, uma vez que não existe uma orientação unânime, nem por parte da doutrina nem por parte da jurisprudência.<br>Our legal system, like most foreign legal systems, provides for the rule of free dismissal. Limited companies and public limited companies may remove their directors by unilateral act, without the need to indicate the reason. Removal satisfies the interestsof the company, but should not imply a complete sacrifice of the personal interests of the administrator. In the reform of the 2006 Commercial Companies Code, the legislator provided, in article 403(5), for the right to compensation for damages suffered by a director removal
without fair cause. The compensation may be fixed contractually (before or after the removal) or under the general terms of the law. The second part of this rule also provides for a limitation: the compensation may not exceed the amount of remuneration that the removed director would presumably receive until the end of the period for which he was elected. The director's request for compensation, under the general terms of the law, has been the origin of different preceptions of the same concept, in particular by the possibility of including compensation for moral damages. Through this study we seek to find a way to answer these questions, which are raised in our courts whenever the compensation right is at stake, since there is no unanimous guidance, neither from the doctrine nor from the jurisprudence.
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Ferreira, Priscila Andrade Martins. "A reunião no mesmo sujeito das qualidades de sócio e de gerente de uma sociedade comercial: o confronto da “desconsideração da personalidade colectiva” e da responsabilidade do gerente para com os credores sociais." Master's thesis, 2019. http://hdl.handle.net/10316/90410.
Full textAbstract:
Dissertação de Mestrado em Direito apresentada à Faculdade de Direito<br>O presente trabalho visa demonstrar que um sujeito cuja esfera jurídica concentre as qualidades de sócio e de gerente de uma sociedade unipessoal por quotas pode ser responsabilizado enquanto sócio por via da “desconsideração da personalidade colectiva” e como gerente mediante a responsabilidade do gerente perante os credores sociais. No sentido de se alcançar tal desiderato analisar-se-á, primeiramente, a sociedade unipessoal por quotas, seguida da “desconsideração da personalidade colectiva”, desfazendo alguns paradigmas que a rodeiam e, depois de nos determos sobre a responsabilidade do gerente para com os credores sociais, daremos conta das principais posições doutrinárias e jurisprudenciais sobre a matéria, antes de tomarmos e fundamentarmos a posição inicialmente proposta. A sociedade unipessoal por quotas revelou-se um êxito legislativo. Não obstante, é por meio desta sociedade que o sócio único tente a abusar da responsabilidade limitada, prejudicando os credores sociais. Por sua vez, a “desconsideração da personalidade colectiva”, um dos institutos societários mais envoltos em mistério, é chamado para debelar estas situações. Para além disso, o facto de o sócio único ser geralmente também o gerente único faz com que as suas prevaricações sejam igualmente sindicáveis por via da responsabilidade do gerente para com os credores sociais. Não obstante, a doutrina e a jurisprudência têm rejeitado este entendimento, considerando que é inadmissível a aplicação dos referidos institutos quanto ao mesmo sujeito e no mesmo caso. No entanto, verifica-se que a aplicação simultânea dos referidos institutos pode contribuir para a efectiva tutela dos credores sociais, favorecer a concessão de crédito e o financiamento da sociedade e com isso promover o desenvolvimento económico.<br>This paper has the purpose of proving that a person who is both member and manager of a single-member limited liability company can be responsabilized as a shareholder due to the application of “disregard doctrine” and as a manager through manager’s responsability towards social creditors. To achieve that goal, we will firstly analyze the single-member limited liability company, followed by the “disregard doctrine”, defeating some associated paradigms and, after holding on the manager’s responsability towards the company’s creditors, we will show the principal positions, both doutrinal and jurisprudential, about this subject, before we take and support our initial orientation. The single-member limited liability company has proved to be a legislative success. However, it is through this company that the sole shareholder attempts to abuse the limited liability, harming the corporate creditors. The “disregard doctrine”, one of the corporate institutes most shrouded in mystery, is called upon to overcome these situations. In addition, the fact that the sole shareholder is generally also the sole manager means that his misconduct is also syndicated through the manager's responsibility towards the company's creditors. Nevertheless, the doctrine and the jurisprudence have rejected this understanding, considering that it is inadmissible to apply the referred institutes to the same person and in the same case.However, the simultaneous application of such institutes may contribute to the effective protection of corporate creditors, favouring the granting of credit and the financing of the company, and thereby promoting economic development.
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Zajícová, Zuzana. "Analýza chráněných pracovních míst v ČR podle jejich vzniku v občanském sektoru a v obchodních společnostech." Master's thesis, 2014. http://www.nusl.cz/ntk/nusl-340776.
Full textAbstract:
Presented thesis deals with theme of protected employment of people with disabilities as one of the posssible ways of their integration into mainstream society. Unemployment, potential negative impacts of work in protected conditions and the risk of social exclusion are in this thesis presented as a social problem, in the solution of which are to some extent involved participants of all three sectors - the state as well as organizations of private profit- and non-profit sector. The theoretical part describes the current system of employment support for people with disabilities in our country and its effectiveness, and analyses the potential impact on lives of this group of citizens. The thesis also includes research conducted within protected workrooms, operated by the civic sector organizations and business companies. Its main objective is to determine whether and how the examined employers contribute to development of skills, vocational qualification and motivation of the disabled citizens for a possible moving into the open labor market and the mainstream society.