Dissertations / Theses on the topic 'Sharp power'

This study develops a theoretical framework for the concept of sharp power and applies it on the case of TikTok to gain an understanding of how China can use sharp power through TikTok. The first research question refers to how sharp power can be conceptualized and what its key components are. The second question refers to what extent China uses sharp power through TikTok. This study used a case study as a method to answer the research questions. The key components of sharp power are manipulation, censorship, propaganda, control, and influence. The result shows that China has the ability to use TikTok in its exercise of political power, meaning that they can manipulate, censor, propagate, control, and influence through the app if they want to. One of the conclusions is that the connection between the Chinese government and TikTok is clear, but it was difficult to show a direct link based on the key components of sharp power applied to the empirical material.

Cut mark analysis to date has been intermittently and superficially researched across a range of disciplines, despite its potential to significantly contribute to criminal investigation. The current study aims to elucidate cut mark analysis by proposing a novel classification system for the identification of knife cuts (kerfs) in bone. The system was devised, to record accurate and reliable information about cut marks and the criteria were tested for association with the knives that created them. Optical Microscopy was used to examine knife cuts on fleshed porcine bone. Incised cuts were made by a range of serrated, scalloped and fine-edged blades (n=9), by the author, and participants (n=23) were recruited to make marks on bone under the same force-measured conditions, using the Kistler force plate and a bespoke frame to control the level of height to which the knife can be raised above the bone prior to impact. Resultant kerfs were created by a single operator (n=86) and created by a range of individuals (n=186). The data suggests that consistent force was not achieved and the resultant marks on the bones made by the same knife had wide variation in their appearance and depth. The classification criteria tested did not provide discrete identification of knife blades from the assessment of kerf features; however, trends were identified from criteria including margin regularity, margin definition, floor width and wall gradient, which may form the basis for further investigation. Marks made by a single operator showed more significant associations (p<0.05) than group operators, and although kerfs from each share some trends, several significant relationships observed in marks made by a single operator are not shared by the participant group. Limitations of using optical microscopy included the inability to view all aspects of each mark, particularly when combined with variation in depth and angle produced by human operators. From the present results, it is suggested that the use of digital microscopy with a superior ability to build three dimensional images of indented marks would provide the necessary step forward to improve discrimination between knife classifications, based on the areas highlighted by the current research. This reinforces the need for further understanding of the mechanics of cut mark application in human individuals and their potential effects on kerf features.

Today, social media applications are used not only as a means to communicate but also as a means to exert power. In some cases, it even has gone so far that specific social media applications have been accused of constituting a threat against national security. This is the case with TikTok, today’s fastest-growing social media application in the world. TikTok is a video-sharing platform used by approximately 800 million individuals every month, developed and owned by a Chinese company named ByteDance Ltd.. The purpose of the following study is to explain how a seemingly innocent social media application like TikTok, used by individuals and owned by a private company, can constitute a threat against national security. This is performed by using the term "sharp power". The study concludes that TikTok can be used by the Chinese government to exert sharp power, enabling the state access to the global information environment.

Made available in DSpace on 2016-04-26T20:22:59Z (GMT). No. of bitstreams: 1 Fabiano Esteves de Barros Pavezi.pdf: 896270 bytes, checksum: 280ce193d2f0742e358d67171b2aac25 (MD5) Previous issue date: 2014-08-12<br>A dissertation submitted for completion of Master of Law focuses the analysis of "limits the power of veto actions Golden Share". The Constitution guarantees the right to private property and free enterprise from the operation of economic activity as it thinks fit. The purpose of the particular, to explore certain economic activity has a single purpose, namely, the pursuit of profit and increase your personal wealth. However, in the eagerness of pursuit of profit, knows clearly that these same entrepreneurs do not hesitate to violate the rights of others, including the community. At this time, the state should interfere in economic activity in order to maintain order and social rights. The more relevant the corporate exploited by private, sharper will be the pursuit of profit. Classic examples are the activities that were previously operated by the State and through privatizations, go to the particular domain. The Golden Share is a very effective way for the state to control these abuses. However, such actions have to be used to maintain public interest in these activities most relevant economic and not as a means "political" to interfere in the private sector. Here arises the need to research and study the limits of these proceedings, that the power granted to the State is not being used for another purpose, such as the aforementioned policy<br>A dissertação apresentada para conclusão do mestrado em Direito tem como objeto a análise dos limites do poder de veto das ações Golden Share . A Constituição Federal garante aos particulares o direito de propriedade e a livre iniciativa da exploração da atividade econômica como bem lhe aprouver. O objetivo do particular, ao explorar determinada atividade econômica possui um único fim, qual seja, a perseguição do lucro e aumento de seu patrimônio pessoal. Contudo, no afã da busca do lucro, sabe-se claramente que estes mesmos empresários não hesitam em violar direitos de outras pessoas, inclusive da coletividade. Neste momento, deve o Estado interferir na atividade econômica, de forma a manter a ordem e os direitos sociais. Quanto mais relevante o objeto social explorado pelo particular, mais aguçada será a perseguição do lucro. Exemplos clássicos são as atividades que até então eram exploradas pelo Estado e que, através de privatizações, passam ao domínio do particular. A Golden Share é um meio muito eficaz para o Estado controlar estes abusos. Porém, tais ações têm que ser utilizadas para manter o interesse público nestas atividades de maior relevância econômica e não como meio político de interferir na iniciativa privada. Aqui surge a necessidade de pesquisar e estudar os limites destas atuações, para que a faculdade conferida ao ente Estatal não seja utilizada com outra finalidade, tal como a política acima citada

Die vorliegende Dissertation untersucht die Stabilität und Regelung von Stromnetzen mit hohem Anteil Erneuerbarer Energien (EE). Dabei stehen drei Forschungsfragen, zu den neuartigen Herausforderungen für die zukünftige Stromnetzstabilität im Zuge der Energiewende, im Vordergrund. Erstens soll untersucht werden wie die Resilienz von Stromnetzen gemessen und im zweiten Schritt auch verbessert werden kann. Dabei zeige ich den notwendigen Detailgrad für transiente Stabilitätsuntersuchungen auf. Die zweite Frage lautet wie, trotz des zunehmenden Ausbaus von EE in Verteilnetzen, die statische Spannungsstabilität garantiert und Leitungsüberlastungen verhindert werden können. Hierfür analysiere ich mit einem konzeptionellen hierarchischen Verteilnetzmodell das zukünftige Potential für die Erzeugung von Blindleistung aus dezentralen Ressourcen am Beispiel Deutschlands. Die dritte Frage, wie eine dynamisch-stabile Integration von EE möglich ist, bildet den Hauptfokus meiner Dissertation. Dabei untersuche ich wie neuartige dynamische Aspekte EE, wie intermittente Fluktuationen oder auch Mess- und Reaktionszeiten von Leistungselektronik, die dynamische Netzstabilität beeinflussen und wie mögliche Instabilitäten durch Konzepte der Nachfragesteuerung behoben werden können. Dabei stoße ich bei der Analyse lokaler intermittenter Fluktuationen in ohmschen Verteilnetzen auf ein bemerkenswertes Wechselspiel zwischen Eigenschaften der Netzdynamik und -topologie. Als Zweites zeige ich wie mit der Einführung von Leistungselektronik und den damit verbundenen Mess- und Reaktionszeiten Resonanzkatastrophen hervorrufen werden können. Schließlich präsentiere ich wie die dezentrale Nachfragesteuerung von Elektroautos dynamische Instabilitäten, hervorgerufen durch Fluktuationen von EE, bereinigen kann. Zusammenfassend behandelt diese Arbeit verschiedene Aspekt zur Stabilität zukünftiger Stromnetze und integriert dabei sukzessive neuartige dynamische Aspekte von EE.<br>This PhD thesis is centered around the "Stability and Control of Power Grids with high Renewable Energy Share". With a conceptual modelers approach, I tackle three overarching questions related to the novel challenges the energy transition poses for the stability of future power grids. The first question focuses on how to measure and subsequently improve the resilience of a power grid. Here, I contribute important insights on the necessary model detail for transient stability assessments. The second question concerns how to ensure static voltage stability and avoid capacity overloading while the deployment of Renewable Energy Sources (RES) in the distribution grid layers is massively increasing. As a possible solution to this problem I analyze the future technical potential of reactive power provision from decentral resources in Germany. The third question, and main focus of this thesis, is on how to integrate renewable energies in a dynamically stable way. Specifically, I investigate the influence of intermittent RES and measurement delays from power electronic resources on frequency stability and how the latter can be restored by concepts of demand control. First, for local intermittent fluctuations in lossy distribution grids I find a remarkable and subtle but robust interplay of dynamical and topological properties, which is largely absent for lossless grids. Second, I show how delays may induce resonance catastrophes and how the existence of critical delays sets an upper limit for measurement times. Third and last, I present how the right parameterization of decentral electric vehicle control can completely overcome issues of short-term dynamic instability related to RES fluctuations. This control avoids demand synchronization and high battery stress. Altogether, this thesis investigates the stability of future power grids moving towards integrating more aspects of renewable energy dynamics. Finally, I point out open questions to encourage further research.

<p>The tendency of connecting the loads to the three phase AC system through power electronic interfaces is increasing with time. These interfaces greatly affect the performance of the power system when properly operated. The injection of reactive power by these interfaces provides the possibility to support the voltage, increase the stability margins and decrease the power losses in the power system. The power electronic loads when tightly regulated consume constant power from the grid and therefore exhibit negative resistance instability behavior. A fast control system with high stability margins is desirable for the converters. This thesis deals with the control of power electronic loads and the stability of the AC distribution system. One of the objectives of the work is to understand the basic control structure of the converters and establish the tuning rules for the PI regulators of the converter controllers. A basic power electronic converter is considered and vector control method is implemented. A mathematical model of the control system for the converter is described and transfer functions are analyzed in frequency domain for different values of grid voltage. The simulations in time domain are performed in PSCAD/EMTDC software. The simulation results validate the results from the frequency domain analysis. The simulation analysis also shows that the stability of the converter in generation mode is higher as compared to when it acts as a load. A larger model of AC distribution system with different shares of loads is investigated for the transient stability. It has been observed through simulations that the injection of reactive power during contingency greatly improve the stability limits of the system. However this increase in the stability margins comes at the cost of an increase in converter current rating. A comparison between the distributed injection by parallel converter and centralized injection through STATCOM confirms the advantages of the distributed injection.</p>

This thesis develops an analytical model of a small-scale solar central receiver power plant located at the California Polytechnic State University in San Luis Obispo, California at 35.28° N, 120.66° W. The model is used to analyze typical energy output at any time during the year. The power plant is designed to produce an output of 100 kW electrical power, and is supplemented by the combustion of natural gas. Methodologies for determining the proper size and layout of heliostats, optimal tower height, receiver size, and turbine engine selection are developed. In this specific design, solar shares of up to 73.2% and an annual average of 44% are possible through the use of a gas-solar hybrid microturbine engine. Larger solar shares are not possible due to the limited size of land (about 0.5 acres used for this project) which limits the number of possible heliostat installations.

This report explores the impacts of variable renewable energy (VRE) on power trading in the European wholesale electricity market. The intricate operation of a typical power exchange in Europe is accompanied by an equally complex balancing system. The increasing amount of VRE in the power system, such as wind and solar power, has far-reaching impacts for power traders in both this electricity market and the corresponding balancing system. As a result, the electricity market is evolving in unprecedented ways and new participants are entering the playing field to capitalize on the changing dynamics caused by VRE generators. One novel participant, the virtual power plant (VPP), possesses an advantage over other market participants by aggregating VRE generators with controllable renewable energy generators, like biogas and hydro plants, into one entity. This allows the VPP to both gain access to live VRE production data that larger plants don’t have, which it then utilizes to remotely dispatch various subpools of assets, and to provide balancing services to the grid. Subsequently, VPPs are able to trade VRE and other renewable electricity superiorly on the same spot markets and balancing systems as large central power plants and industrial consumers. The report asserts that VPP traders can earn profits through means of innovative trading strategies that exploit predictable market impacts caused by VRE power through a robust understanding of the electricity market and their unique access to data.<br>Denna rapport undersöker effekterna av variabel förnybar energi (VRE) på krafthandeln på den europeiska elhandelsmarknaden för stora aktörer. Den komplicerade driften av ett typiskt kraftutbyte i Europa åtföljs av ett lika komplicerat balanseringssystem. Den ökande mängden VRE i kraftsystemet, såsom vind- och solkraft, har långtgående effekter för krafthandlare på både denna elmarknad och motsvarande balanseringssystem. Som ett resultat utvecklas elmarknaden på enastående sätt och nya deltagare kommer in på spelplanen för att dra nytta av den förändrade dynamiken som orsakas av VRE-generatorer. En ny spelare, det virtuella kraftverket (VPP), har en fördel jämfört med andra marknadsaktörer genom att samla VRE-generatorer med styrbara förnybara energiproducenter, som biogas och vattenkraftverk, till en enhet. Detta gör att VPP både kan få tillgång till live VRE-produktionsdata som större anläggningar inte har, som den sedan använder för att distribuera olika underpooler av tillgångar och för att tillhandahålla balanstjänster till nätet. Därefter kan VPP: er handla med VRE och annan förnybar el på ett överlägset sätt på samma spotmarknader och balanseringssystem som stora centrala kraftverk och industrikonsumenter. Rapporten visar att VPP-handlare kan göra vinster genom innovativa handelsstrategier som utnyttjar förutsägbara marknadseffekter orsakade av VRE-kraft genom en detaljerad förståelse för elmarknaden och unik tillgång till data för produktionen av förnybar energi<br><p>QC 20201118</p>

A transnational network of more than 50 million people, the Chinese diaspora stretches its reach across the globe. As part of their immigrant journeys, many Chinese immigrants have achieved political leadership in their adopted home countries despite monumental barriers. This thesis examines the political attainment of Chinese immigrants by uncovering how institutional factors such as political power sharing between ethnic groups, citizenship acquisition law, and discrimination law affect their pursuit of public office. I first establish a database of 265 politicians I define as Chinese immigrants, whose various levels of political attainment I then use as the dependent variable. Through empirical analysis, this thesis finds that politicians of Chinese descent attain lower levels of political office when institutional discrimination has targeted Chinese immigrants. In contrast, this thesis reveals that politicians of Chinese descent attain higher levels of political office when political power is shared amongst ethnic groups and when citizenship acquisition laws are exclusionary. While the last result is seemingly counterintuitive, the negative relationship between the inclusiveness of citizenship and political attainment can be explained by the intrinsic role exclusionary citizenship acquisition laws play in naturalizing citizens who are deemed to be integrated and electable.

A system to improve efficiency performance of a DC-DC converter is simulated and built. The proposed system combines multiple DC-DC converters in parallel and implements a digital control scheme and load-share controller. A model of the system is developed in MATLAB Simulink and the model demonstrates the improved converter’s efficiency particularly at low load conditions. This simulation is then designed into a hardware system running three DC-DC converters in parallel, controlled by a microcontroller and a load-share controller. The hardware also confirms the simulation results, although some hardware refinements are evident as simulation results are superior. The system is designed to be scalable in the number of converters and the total output power, as well as being DC-DC converter topology-independent. Simulation results show the system maintaining better than 88 % efficiency over almost 90 % of the load range of the system. This system could be implemented where dynamic loads typically occur, such as in electric vehicle charging.

Submitted by Renata Lopes (renatasil82@gmail.com) on 2016-09-27T13:40:49Z No. of bitstreams: 1 carolinamoraessarmentodeassis.pdf: 1036311 bytes, checksum: 483fffca9ef9bc9e0b5c555f68e7b621 (MD5)<br>Approved for entry into archive by Diamantino Mayra (mayra.diamantino@ufjf.edu.br) on 2016-09-27T15:15:20Z (GMT) No. of bitstreams: 1 carolinamoraessarmentodeassis.pdf: 1036311 bytes, checksum: 483fffca9ef9bc9e0b5c555f68e7b621 (MD5)<br>Made available in DSpace on 2016-09-27T15:15:20Z (GMT). No. of bitstreams: 1 carolinamoraessarmentodeassis.pdf: 1036311 bytes, checksum: 483fffca9ef9bc9e0b5c555f68e7b621 (MD5) Previous issue date: 2016-06-30<br>FAPEMIG - Fundação de Amparo à Pesquisa do Estado de Minas Gerais<br>Esta dissertação teve por objetivo investigar os efeitos da participação de mercado das firmas sobre os salários que pagam por ocupação, para os setores extrativista e de transformação da economia brasileira, no período de 2007 a 2013. A base de dados utilizada foi um painel de microdados conectáveis ocupação-firma, construída a partir de dados do Relatório Anual de Informações Sociais Identificada (RAIS) e da Pesquisa Industrial Anual (PIA-Empresa). O controle das heterogeneidades não-observadas da firma e dos choques ocupacionais foi realizado em duas etapas: a primeira etapa consistiu em eliminar os efeitos não observados das firmas; com as variáveis em diferença, a segunda etapa consistiu em estimar um modelo de efeitos-fixos, por meio do qual eliminou-se os choques ocupacionais. Os resultados apontam haver relação positiva e significativa entre a participação de mercado das firmas e os salários que pagam por ocupação. Os coeficientes encontrados, contudo, são inferiores àqueles reportados para os países desenvolvidos, indicando este fator como menos relevante para os diferenciais salariais no país. Ademais, o Lester range foi de 9% após o controle para os efeitos não observados, valor aquém daqueles reportados na literatura internacional. A agregação dos dados por ocupação-firma, considerando a maior desagregação disponível para a ocupação, bem como a especificação de um modelo de efeitos-fixos capaz de controlar dois tipos de heterogeneidade não observada, contribuiu para a literatura ao apresentar uma nova possibilidade de estimação dos modelos que tratam esse tema, posto que estimam um modelo sem incorrer em prejuízos amostrais. Ademais, a existência de uma escassa literatura acerca desse tema para o Brasil, como também para os países em desenvolvimento, reforça a relevância deste estudo.<br>This work aimed to investigate the effects of firm’s product market market-power on occupational wages on Brazilian manufacturing firms, between 2007 and 2013. This study used detailed occupation and firm-level matched data, based on our merging of two different data sets: the Annual Report of Social Information (RAIS) and the Annual Industrial Survey (PIA-Enterprise). The control of unobserved heterogeneity of the firms and the occupations was performed in two stages: the first stage eliminates unobserved effects of firms; with the variables in difference, in a second stage, one could estimate a model of fixed effects, by which the occupational shock is eliminated. The results shows a positive and significant relationship between the firm’s market-share and occupational wages. The coefficients found, however, are lower than those reported for developed countries. Moreover, after controlling for both fixed effects, Lester Range was 9%, value below those reported in the literature. The aggregation of data by cell of occupation-firm, considering the further breakdown available for occupation, as well as the specification of a fixed effects model able to control two types of unobserved heterogeneity, contributed to the literature by presenting a new possibility for the estimation of models that address this issue, since they estimate a model without incurring sample losses. Moreover, the existence of a limited literature on this subject for Brazil, and also for developing countries, reinforces the relevance of this study.

A strategy analysis of former development and present strategic position of ČEZ, a.s. is made in this diploma thesis. There were used such analysis as PEST, Porter's 5F model, 4C, SWOT and internal analysis. On the basis of my analysis I formulate conclusion.

Environmental changes caused by human activities are frequently discussed issues andrenewable energy is given increased technological and political attention. The Swedish politicaltarget of a growth of renewable energy has boosted investment in weather dependent wind powerproduction. As a larger share of the energy supply becomes intermittent, the energy system faceschallenges in balancing the grid and maintaining a secure energy supply. Thus, new requirementson regulating capacity will be necessary to drive this transformation. AB Fortum Värme samägtmed Stockholms Stad (Fortum Heat), a district heating company operating in the Stockholmregion, has the potential to adapt its electricity production to market variations. The flexibilityoriginates from a large variation of technologies and fuels used, and the company is both aconsumer and producer of electricity. However, the electrical flexibility is limited by rampingtimes and the heating demand of the market, and inaccurate forecasts complicate the planningprocess. In this report, the historical hourly variations of wind power production from 2011-2015 inSweden were investigated and compared with the technical flexibility of Fortum Heat. Thevariations were found to be in line with the current ramping times of the company’s power plantsbut would in some cases require the plants to be in stand by mode, posing higher economic risksfor the company. The seasonal variations in Fortum Heat’s flexibility were also found tocoincide with the changes of wind power production, with some exceptions. During extremelylow temperatures, Fortum Heat produces heat alone due to liabilities towards the district heatingcustomers. Consequently, as wind power production was lower during these temperatures,Fortum Heat has to decrease its dependency on heat only production in order to enable electricityproduction. Furthermore, wind power production was smaller during higher temperatures, whenFortum Heat’s flexibility is low. Condensing power could be operated during these temperatures,but require that maintenance would have to be planned accordingly.<br>Miljöförändringar orsakade av mänskliga aktiviteter är ett ofta diskuterat problem och förnybarenergi ges allt större teknisk och politisk uppmärksamhet. Det svenska politiska målet om enökning i förnybar energi har gett ett uppsving för investeringar i väderberoendevindkraftsproduktion. Då en större del av energiutbudet blir intermittent uppkommer svårigheteri att balansera elnätet och att upprätthålla ett säkert energiutbud. Därför kommer nya krav påreglerkapacitet att vara nödvändiga för att driva på denna transformation. AB Fortum Värmesamägt med Stockholms Stad, ett fjärrvärmeföretag med verksamhet i Stockholmsregionen, harpotentialen att anpassa sin elektricitetsproduktion till marknadsvariationer. Flexibilitetenkommer från stora variationer i teknik och bränsle, och företaget är både konsument ochproducent av elektricitet. Den elektriska flexibiliteten är dock begränsad av rampingtider samtmarknadens värmebehov och felaktiga prognoser kan försvåra planeringsprocessen. I denna rapport undersöks de historiska, timvisa variationerna i vindkraftsproduktion mellan2011-2015 i Sverige och jämförs med den tekniska flexibiliteten hos Fortum Värme. Enligtuträkningarna visade sig variationerna vara i linje med de nuvarande rampingtiderna hosföretagets anläggningar, men kunde i några fall kräva att verken opererar i stand by vilket i sintur utgör en högre risk för företaget. Säsongsvariationerna för Fortum Värmes flexibilitetsammanföll enligt beräkningarna med förändringarna i vindkraftsproduktion, med vissaundantag. Under extremt låga temperaturer producerade företaget endast värme på grund avskyldigheter mot sina fjärrvärmekunder. Eftersom vindkraftsproduktionen minskar under lågatemperaturer måste därmed Fortum Värme minska sitt beroende av endast värmeproduktion föratt möjliggöra elproduktion. Vindkraftsproduktion var dessutom mindre under högretemperaturer, när Fortum Värmes flexibilitet är låg. Kondenskraft kan i dessa fall vara ettalternativ men kräver att underhåll planeras i enlighet med elbehovet.

Thesis (MBA)--Stellenbosch University, 2004.<br>ENGLISH ABSTRACT: A number of financial variables have received extensive attention from those analysts determined to obtain that significant set of variables that improve their forecasts of expected returns. Barbee. Mukherji and Raines (1996: 56-60) suggested that the focus shift to the sales-to-price (S/P) ratio. Their findings indicated that the S/P ratio exhibited greater explanatory power in assessing share returns on Standard and Poars (S&P) American data compared to those variables already in the spot light. This study focuses on a seventeen-year period extending from 1985 to 2002, and includes a sample of industrial sector JSE-listed companies. The set of variables assessed are referred to as the "explanatory variables" and include the following: • Debt-to-equity (D/E) ratio, • Book-to-market value (B/M) ratio, • Market value of equity (MVE) variable; and • Sales-to-price (S/P) ratio. Correlation tests and regression analyses on permutations of these explanatory variables against percentage share return data revealed the MVE variable to possess the dominant relationship with percentage share returns. All models were shown (through inference) to exhibit some validity, with the exception of that model which excluded the MVE variable as an independent variable. The coefficient of the B/M ratio becomes significant when combined with the MVE variable in a regression analysis, accounting for most of the explanatory power of the model. Results from this study were compared with those in Barbee, et al., (1996), Fricker (1996) and Mouton (1998). The comparison revealed that Barbee, et al., (1996) is the only study (of the authors considered) with sufficient evidence to infer significance in the S/P ratio as a more powerful explanatory variable for determining share returns. This study has therefore shown no support for the S/P ratio as an explanatory power in determining percentage share returns, based on JSE data. The MVE variable was instead shown to have the greatest explanatory power, specifically when combined with the BlM ratio.<br>AFRIKAANSE OPSOMMING: 'n Aantal finansiele veranderlikes het aansienlike aandag van die analiste gekry ten einde 'n betekenisvolle stel van veranderlikes daar te stel wat help om hul vooruitskattings van opbrengste te verbeter. Barbee, Mukherji and Raines (1996: 56-60) het voorgestel dat die fokus verskuif na die verkope tot prys (S/P) verhouding. Hul het bevind dat die S/P verhouding groter verduidelikingsvermoe het by die beoordeling van aandeel opbrengste op Standard en Poors (S&P) se Amerikaanse data as daardie veranderlikes wat reeds onder die soeklig was. Die studie fokus op 'n sewentienjaar-periode van 1985 tot 2002, en dek 'n monster van genoteerde industriele aandele op die Johannesburg se Effektebeurs. Hierdie stel veranderlikes word na verwys as die "verduidelikende veranderlikes" en sluit in: • Skuld tot aandeelhouersfondse (D/E) verhoudings, • Boek tot markwaarde (B/M) verhouding, • Markwaarde van aandeelhouersbelang (MVE) veranderlike, en • Verkope tot prys (S/P) verhouding. Korrelasietoetse en regressie-analises op permutasies van hierdie verduidelikende veranderlikes teenoor persentasie aandeel opbrengste het aangetoon dat die MVE die dominante veranderlike met die persentasie aandeel opbrengste getoon het. Alle modelle (deur gevolgtrekking) het 'n mate van betekenisvolheid openbaar, behalwe die model wat die MVE veranderlike as onafhanklike veranderlike uitgesluit het. Die koeffisient van die B/M verhouding het betekenisvol geword toe dit met die MVE-veranderlike in 'n regressie-analise gekombineer is, en wat dan die grootste gedeelte van die verduidelikingswaarde van die model verklaar. Die resultate van die studie is vergelyk met die van Barbee, et aI., (1996), Fricker (1996) en Mouton (1998). Die vergelyking het aangedui dat Barbee, et al., (1996) die enigste studie is (van die skrywers ondersoek) wat genoegsame getuienis verkry het om die belangrikheid van die S/P verhouding as 'n sterk veranderlike vir die aandeel opbrengste te verklaar. Hierdie studie kon dus geen ondersteuning vind dat die S/P verhouding as 'n verduidelikende veranderlike by die vasstelling van persentasie-opbrengste op die JSE data gebruik kan word nie. Daarenteen het die MVE-veranderlike die grootste voorspellingswaarde gehad, veral as dit gekombineer is met die B/M verhouding.

Le placement de production (UC pour unit commitment) est une famille de problèmes d'optimisation qui déterminent l’état et la puissance de consigne des groupes de production pour satisfaire la demande électrique à moindre coût. Traditionnellement, une contrainte de sûreté détermine un certain volume de capacité raccordée disponible, appelé la réserve, destinée à gérer l'incertitude. Néanmoins, dans les petits systèmes la contrainte de réserve fixe peut entraîner dans certains cas une violation du critère N-1 bien que le volume de réserve minimale soit respecté. Plus récemment, la part croissante de production variable à partir de sources renouvelables (ENR) peut conduire à des programmes d’appel qui ne garantissent plus la sûreté même dans les grands systèmes.Pour y faire face, différentes techniques d'atténuation des impacts ont été proposées telle que la révision des modèles de placement de la production pour inclure une meilleure représentation de la dynamique du système. Cette sous-famille des problèmes UC est formellement définie dans ces travaux comme le problème FCUC (frequency constrained unit commitment). Elle vise à maintenir la fréquence au-dessus d'un certain seuil, et éviter ainsi le délestage par sous-fréquence (DSF).La première partie de ces travaux identifie les défis dans la formulation du problème FCUC. D’une part, la contrainte de fréquence est fortement non-linéaire par rapport aux variables de décision du problème UC. D’autre part, elle est difficile à approcher par des fonctions analytiques. La simulation séquentielle d'un modèle UC classique et d’un modèle de réponse primaire de la fréquence est alors proposée. L’intérêt d’une formulation plus fidèle de la contrainte de sûreté est donc révélé. La deuxième partie de ces travaux étudie l'impact des ENR sur la réponse primaire de la fréquence. Le besoin de formuler des modèles de FCUC plus précis est mis en avant.La troisième partie des travaux examine le coût, les bénéfices et les limitations des modèles FCUC, basés sur des contraintes indirectes sur certains paramètres dynamiques des unités de production. Il est montré que, bien que l'application de contraintes de sécurité indirectes assure la sûreté dans certains pas horaires, l'effet inverse peut apparaître à un autre instant. Ainsi, l’efficacité des leviers dépend fortement du point de fonctionnement du système. Il en est de même pour le coût de la solution. Cette étude met en évidence la nécessité de nouvelles méthodes pour traiter correctement la contrainte sur le creux de fréquence afin d'assurer l'optimalité et efficacité de la solution.Finalement, la quatrième partie des travaux offre une nouvelle formulation du problème FCUC suivant une approche de décomposition de Bender. La décomposition de Bender sépare un problème d'optimisation avec une certaine structure en deux parties : le problème maître et le problème esclave. Dans le cas du FCUC, le problème maître propose des plans de production candidats (états des groupes) et le problème esclave assure le respect des contraintes de fréquence par le biais d'un modèle de plans sécants. Les résultats de simulation montrent que la représentation plus précise du creux de fréquence au niveau du problème esclave réduit le risque de DSF et le coût de la sécurité par rapport à d'autres modèles de FCUC<br>The Unit Commitment problem (UC) is a family of optimisation models for determining the optimal short-term generation schedule to supply electric power demand with a defined risk level. The UC objective function is given by the operational costs over the optimisation horizon. The constraints include, among others, technical, operational and security limits. Traditionally, the security constraints are given by the requirement of a certain volume of on-line spare capacity, which is called the reserve and is meant to handle uncertainty, while preventing the interruption of power supply. It is commonly specified following a static reliability criterion, such as the N-1 rule.Nevertheless, in small systems the fixed, and a priori defined, reserve constraint could entail a violation of the N-1 criterion, although the reserve constraint was met. More recently, the increasing share of variable generation from renewable sources (V-RES), such as wind and solar, may lead to UC solutions that no longer ensure system security. Therefore, different impact mitigation techniques have been proposed in literature, which include the revision of UC models to provide a better representation of the system dynamics. This subfamily of UC models is formally defined in this work as the frequency constrained UC problem (FCUC), and aims to keep the frequency above a certain threshold, following pre-defined contingencies, by adding enhanced security constraints. In this work this topic is addressed in four parts.The first part identifies the main challenge of formulating the FCUC problem. Indeed, the frequency minimum, also called the frequency nadir, constraint is strongly non-linear on the decision variables of the UC model. Moreover, the behaviour of the frequency nadir regarding the binary decision variables is hard to approximate by analytical functions. Thus, a sequential simulation approach is proposed, based on a classic UC model and a reduced order model of the primary frequency response. The potential benefits of a smarter allocation of the primary reserve is revealed.The second part of this work investigates the impact of V-RES sources on the primary frequency response. The underlying processes that lead to the increase of the Under-Frequency Load Shedding (UFLS) risk are thoroughly discussed. The need of formulating more accurate FCUC models is highlighted.The third part of this work examines the cost/benefit and limitation of FCUC models based on indirect constraints over certain dynamic parameters of the generating units. A methodology is proposed that assesses the effectiveness and optimality of some existing V-RES impact mitigation techniques, such as the increase of the primary reserve requirement, the prescription of an inertia requirement, the authorisation of V-RES dispatch-down or the consideration of fast non-synchronous providers of frequency regulation services. This study showed the need for new methods to properly handle the frequency nadir constraint in order to ensure optimality, without compromising the optimisation problem’s tractability.The fourth part of this work offers a new formulation of the FCUC problem following a Bender’s decomposition approach. This method is based on the decomposition of an optimisation problem into two stages: the master and the slave problems. Here, the master problem deals with the generating unit states and the slave problem handles the frequency nadir constraints through a cutting plane model. Simulation results showed that the more accurate representation of the frequency nadir in the slave problem reduces the risk of UFLS and the security cost, with respect to other FCUC models, such as those based on inertia constraints. In addition, the optimality of the global solution is guaranteed; although the convergence of the master problem is slow, due to the well-known tailing off effect of cutting plane methods

Les objectifs récents en ce qui concerne la durabilité des systèmes électriques et l'atténuation des menaces liées au changement climatique modifient la portée des exigences de planification de ces systèmes. D'une part, les systèmes durables d'énergie à faible émission de carbone qui comportent une part élevée de sources d'énergie renouvelables intermittentes(IRES) se caractérisent par une forte augmentation de la variabilité intertemporelle et nécessitent des systèmes flexibles capables d'assurer la sécurité de l'approvisionnement électrique. D'autre part, la fréquence et la gravité accrues des phénomènes climatiques extrêmes menacent la fiabilité du fonctionnement des réseaux électriques et exigent des systèmes résilients capables de résister à ces impacts potentiels. Tout en s'assurant que les incertitudes inhérentes au système sont bien prises en compte directement au moment de la prise des décisions de planification à long terme. Dans ce contexte, la présente thèse vise à développer une modélisation technicoéconomique et un cadre d'optimisation robuste pour la planification des systèmes électriques multi-périodes en considérant une part élevée d'IRES et la résilience aux phénomènes climatiques extrêmes. Le problème spécifique de planification considéré est celui du choix de la technologie, de la taille et du programme de mise en service des unités de production conventionnelles et renouvelables sous des contraintes techniques, économiques,environnementales et opérationnelles. Dans le cadre de ce problème, les principales questions de recherche à aborder sont : (i) l'intégration et l'évaluation appropriées des besoins de flexibilité opérationnelle en raison de la variabilité accrue des parts élevées de la production d'IRES, (ii) la modélisation et l'intégration appropriées des exigences de résilience contre les phénomènes climatiques extrêmes dans la planification du système électrique et (iii) le traitement des incertitudes inhérentes de l'offre et la demande dans ce cadre de planification. En résumé, les contributions originales de cette thèse sont :- Proposer un modèle de planification du système électrique intégré multi période avec des contraintes dynamiques et en considérant un pourcentage élevé de pénétration des énergies renouvelables.- Introduire la mesure du déficit de flexibilité prévu pour l'évaluation de la flexibilité opérationnelle.- Proposer un ensemble de modèles linéaires pour quantifier l'impact des vagues de chaleur extrêmes et de la disponibilité de l'eau sur le déclassement des unités de production d'énergie thermique et nucléaire, la production d'énergie renouvelable et la consommation électrique du système.- Présenter une méthode permettant d'intégrer explicitement l'impact des phénomènes climatiques extrêmes dans le modèle de planification du système électrique.- Traiter les incertitudes inhérentes aux paramètres de planification du système électrique par la mise en oeuvre d'un nouveau modèle d'optimisation adaptatif robuste à plusieurs phases.- Proposer une nouvelle méthode de solution basée sur l'approximation des règles de décision linéaires du modèle de planification robuste.- Appliquer le cadre proposé à des études de cas de taille pratique basées sur des projections climatiques réalistes et selon plusieurs scénarios de niveaux de pénétration des énergies renouvelables et de limites de carbone pour valider la pertinence de la modélisation globale pour des applications réelles<br>Recent objectives for power systems sustainability and mitigation of climate change threats are modifying the breadth of power systems planning requirements. On one hand, sustainable low carbon power systems which have a high share of intermittent renewable energy sources (IRES) are characterized by a sharp increase in inter-temporal variability and require flexible systems able to cope and ensure the security of electricity supply. On the other hand, the increased frequency and severity of extreme weather events threatens the reliability of power systems operation and require resilient systems able to withstand those potential impacts. All of which while ensuring that the inherent system uncertainties are adequately accounted for directly at the issuance of the long-term planning decisions. In this context, the present thesis aims at developing a techno-economic modeling and robust optimization framework for multi-period power systems planning considering a high share of IRES and resilience against extreme weather events. The specific planning problem considered is that of selecting the technology choice, size and commissioning schedule of conventional and renewable generation units under technical, economic, environmental and operational constraints. Within this problem, key research questions to be addressed are: (i) the proper integration and assessment of the operational flexibility needs due to the increased variability of the high shares of IRES production, (ii) the appropriate modeling and incorporation of the resilience requirements against extreme weather events within the power system planning problem and (iii) the representation and treatment of the inherent uncertainties in the system supply and demand within this planning context. In summary, the original contributions of this thesis are: - Proposing a computationally efficient multiperiod integrated generation expansion planning and unit commitment model that accounts for key short-term constraints and chronological system representation to derive the planning decisions under a high share of renewable energy penetration. - Introducing the expected flexibility shortfall metric for operational flexibility assessment. - Proposing a set of piece-wise linear models to quantify the impact of extreme heat waves and water availability on the derating of thermal and nuclear power generation units, renewable generation production and system load. - Presenting a method for explicitly incorporating the impact of the extreme weather events in a modified power system planning model. - Treating the inherent uncertainties in the electric power system planning parameters via a novel implementation of a multi-stage adaptive robust optimization model. - Proposing a novel solution method based on ``information basis'' approximation for the linear decision rules of the affinely adjustable robust planning model. - Applying the framework proposed to a practical size case studies based on realistic climate projections and under several scenarios of renewable penetration levels and carbon limits to validate the relevance of the overall modeling for real applications

Leadership transition is a critical period for any organizations. By researching finns in the FTSE All-Share Index, this thesis offers three empirical studies to explore some interesting problems in this important epoch. The samples used for the research are those companies that changed their CEOs in a six-year (from 2002 to 2007) window. This study identified the importance of CEOs' psychological factors not only for the predecessors but also for the new leaders. The first study looks at the old CEOs before the CEO turnover; the second and third studies follow the new CEOs longitudinally after the succession. The first essay investigates how old CEOs' psychological factors influence their types of departure, i.e. voluntary and involuntary CEO turnovers. This study integrates both cognitive and emotional factors, appreciating the proactive roles of CEOs in the leadership succession process. Apart from conventional reasons, e.g. firms' prior perfonnance, old CEOs' power, their future focus attention (FF A) and negative emotion (NE) provide crucial explanations determining the turnover types. Empirically, this study identifies that the level of CEOs' FF A, signaling the planned career management behaviors, will increase the likelihood of voluntary CEO turnover. I also found that the level of CEOs' NE, reflecting the uncooperative behaviors, will increase the likelihood of involuntary CEO turnover. The second essay studies how new CEOs' psychological factors influence the post succession strategic changes (PSSC) of firms. Using the trilogy of mind perspective, on top of cognition, I advocate that new CEOs' emotion and conation serve as the impetus for the PSSC. By tracing the identical new CEOs over years after their succession, the empirical results of this longitudinal study demonstrate that those intra-individual psychological (time-varying) factors of new CEOs are important for the PSSc. New CEOs' future focus attention (FF A), commitment to change (C2C) will significantly increase the PSSC and new CEOs' negative emotion (NE) will significantly reduce the PSSC. Based on the cognitive continuum theory (CCT), the third research study advocates that new CEOs' cognitive reasoning provides new explanations for the mechanism behind the cash holding phenomenon. It is down to CEOs to appreciate the needs and the associated risks. I identify that the degree of analysis (DoA) in new CEOs' cognitive continuum will increase firms' cash holding level because DoA tends to raise the calculated transaction costs, the management controls, the uncertainty avoidance behaviors and the opportunity costs. Using a psycholinguistic approach and computer-aided text analysis (CATA) technique, directly measuring CEOs' mind, we expect to explore the "black box" ofCEOs' roles comprehensively in the leadership succession period.

Made available in DSpace on 2009-11-18T19:01:12Z (GMT). No. of bitstreams: 1 LE.pdf: 458915 bytes, checksum: 13b0e7a32db2f8fc613f74a2fc3beb9a (MD5) Previous issue date: 2005<br>Organizations have shown a speech focused on Knowledge Management and share of knowledge that reveal the relevance of both the age of knowledge and the capture and transference of individual and colective knowledge. Due to its continued repetition, the speech has been legitimated, not establishing, however, what can be shared, which methods shall provide it and which personal and corporate reasons can stimulate sharing the knowledge. This speech tries to convince that the implementation depends exclusively on the actions promoted by the firm. It also admits the presence of necessary environment conditions to make share of knowledge possible. The speech makes one believe that individuals and teams, formal or informal, are prepared and desire to share their knowledge, not considering feelings, wishes or availability to do so. The research has revealed the difficulty of sharing knowledge within service companies, which are strongly results oriented, due to the competition among employees in order to catch better jobs, the fight to retain power and the lack of time to develop daily tasks. Such organizations prevent people from the desire and the availability to share knowledge.<br>Existe um discurso dominante nas organizações a respeito da Gestão do Conhecimento e do compartilhamento do conhecimento que afirma a existência de uma era do conhecimento e que assevera a importância da captura e disponibilização do conhecimento individual e coletivo. Trata-se de um discurso que, de tão repetido, revestiu-se de legitimidade, não tendo evidenciado, contudo, o que pode ser compartilhado, que métodos garantem o compartilhamento, e os motivos, pessoais e empresariais, que podem incentivá-lo. Este discurso faz crer ser esta uma disciplina cuja implementação depende unicamente da efetividade das ações conduzidas pela empresa. Admite, igualmente, que as condições ambientais necessárias ao compartilhamento do conhecimento estão presentes. O discurso parte da premissa de que as pessoas, equipes e grupos, formais e informais, estão preparados e desejosos por compartilharem seu conhecimento, desconsiderando os seus sentimentos e sua vontade ou disponibilidade para tanto. A pesquisa, contudo, revelou a dificuldade para o compartilhamento do conhecimento em organizações prestadoras de serviços fortemente orientadas para resultados, pois as condições de trabalho em organizações deste tipo são pautadas por uma competição interna ferrenha na luta pelos melhores cargos e funções, pela disputa de poder e pela escassez de tempo para o desenvolvimento das atribuições básicas dos cargos. Nestas organizações, em geral, os indivíduos não encontram vontade nem disponibilidade para compartilhar conhecimento.

Aktiebolag är en av de vanligaste bolagsformerna och förekommer i två skilda former, publika och privata. Vid uppstart av ett aktiebolag, oavsett form, krävs ett aktiekapital, men det som skiljer dem åt är dess storlek. För att starta ett privat aktiebolag krävs idag ett aktiekapital på 25 000 kr, vilket ändrades från 50 000 kr den 1 januari 2020 som följd av att förslaget Ds 2019:6 fick genomslagskraft. Förslaget sändes ut till ett antal utvalda instanser som Justitiedepartementet ville erhålla synpunkter från. Samtidigt hade övriga allmänheten också möjlighet att inkomma med synpunkter, utan att det blivit tillfrågade. Responsen till förslaget Ds 2019:6 utgjordes av totalt 47 remissvar från olika instanser.  Problemdiskussionen i studien indikerar på att det råder delad mening angående aktiekapitalets storlek och funktion. Detta leder fram till studiens syfte, att undersöka intressenternas attityder, utifrån inkomna remissvar, gällande lagändringen av aktiekapitalets sänkning från 50 000 kr till 25 000 kr för privata aktiebolag. Utöver detta syftar studien även till att undersöka om intressenternas attityder har haft en påverkan på beslutet att sänka aktiekapitalet. För att uppnå studiens syfte har en kvalitativ innehållsanalys valts, då huvudmomentet i studien består av att analysera de inkomna remissvaren gällande förslaget Ds 2019:6. I studien har även en abduktiv forskningsansats valts, då en ren induktiv ansats eller en ren deduktiv ansats inte anses vara aktuell. Studien omfattar ett totalurval på 47 instanser, då samtliga remissvar har bearbetats, vilket utgör studiens empiri och ligger till grund för studiens analys.  De instanser som utgör studiens empiri har delats in i olika intressentkategorier utifrån en modifierad intressentmodell. Kategorierna som förekommer i studien är följande: myndigheter, lärosäten, ideella föreningar, domstolar, branschorganisationer och företagsfrämjande organisationer. Utifrån intressentkategorierna presenteras instansernas initiala inställning samt en redogörelse av remissvaren, där det skapas en uppfattning att instanserna har relativt liknande synpunkter. Till följd av studiens analys dras slutsatserna att det är svårt att generalisera den allmänna attityden samt att instanserna inte har haft en större påverkan än vad den initiala inställningen indikerat på gällande attityden till förslaget Ds 2019:6.<br>Limited companies are one of the most common forms of company and occur in two different forms, public and private. When starting a limited company, regardless of form, a share capital is required, but what distinguishes them is its size. To start a private limited company, a share capital of SEK 25,000 is required today, which was changed from SEK 50,000 on January 1st, 2020 as a result of the impact of proposal Ds 2019:6. The proposal was sent out to a number of selected instances from which the Justitiedepartementet wanted to receive comments. At the same time, the rest of the public also had the opportunity to submit comments, without being asked. The response to the proposal Ds 2019: 6 consisted of a total of 47 consultation responses from various instances.  The problem discussion in the study indicates that there is a divided opinion regarding the size and function of the share capital. This leads to the purpose of the study, to examine the stakeholders' attitudes, based on comments received, regarding the law change of the share capital reduction from SEK 50,000 to SEK 25,000 for private limited companies. In addition to this, the study also aims to investigate whether the stakeholders' attitudes have had an impact on the decision to reduce the share capital. To achieve the purpose of the study, a qualitative content analysis has been chosen, as the main part of the study consists of analyzing the comments received regarding the proposal Ds 2019:6. In the study, an abductive research approach has also been chosen, as a pure inductive approach or a pure deductive approach is not considered relevant. The study comprises a total sample of 47 instances, as all consultation responses have been processed, which constitutes the study's empirical data and forms the basis for the study's analysis.  The instances that make up the study's empirical data have been divided into different stakeholder categories based on a modified stakeholder model. The categories that appear in the study are the following: authorities, universities, non-profit associations, courts, industry associations and business promotion organizations. Based on the stakeholder categories, the instances' initial attitude is presented, as well as an account of the consultation responses, where an opinion is created that the instances have relatively similar views. As a result of the study's analysis, the conclusions are drawn that it is difficult to generalize the general attitude and that the instances have not had a greater impact than what the initial attitude indicated on the current attitude to the proposal Ds 2019: 6.

Le modèle classique de la finance (Markowitz, Sharpe, Black, Scholes, Fama) a, dès le début, été remis en cause par le mathématicien Benoît Mandelbrot (1924-2010). Il démontre que la loi normale ne correspond pas à la réalité des marchés, parce qu’elle sous-estime les risques extrêmes. Il faut au contraire utiliser les lois de puissance, comme la loi de Pareto. Nous montrons ici toutes les implications de ce changement fondamental sur la finance, mais aus-si, ce qui est nouveau, en ce qui concerne la gestion des entreprises (à travers le calcul du coût des capitaux propres). Nous tentons de mettre à jour les raisons profondes de l’existence des lois de puissance en économie à travers la notion d’entropie. Nous présen-tons de nouveaux outils théoriques pour comprendre la formation des prix (la théorie de la proportion diagonale), des bulles (la notion de réflexivité), des crises (la notion de réseau), en apportant une réponse globale à la crise actuelle (un système monétaire diversifié). Toutes ces voies sont très peu, ou pas du tout exploitées. Elles sont surtout, pour la pre-mière fois, mises en cohérence autour de la notion de loi de puissance. C’est donc une nou-velle façon de comprendre les phénomènes économiques que nous présentons ici<br>The classical model of finance (Markowitz, Sharpe, Black, Scholes, Fama) has, from the be-ginning, been challenged by the mathematician Benoit Mandelbrot (1924-2010). It shows that the normal distribution does not match the reality of the market, because it underesti-mates the extreme risks. Instead, we must use the power laws, such as the Pareto law. We show the implications of this fundamental change in the finance, but also in the manage-ment of companies (through the calculation of cost of capital). We try to update the underly-ing reasons for the existence of power laws in economics through the concept of entropy. We present new theoretical tools to understand price formation (the theory of diagonal proportion), bubbles (the notion of reflexivity), crisis (network concept), providing a com-prehensive response to the current crisis (a diversified monetary system). All these ways are very little or not at all exploited. They are mostly for the first time, made consistent around the notion of power law. This is a new way of understanding economic phenomena present-ed here

As medidas defensivas contra tomadas de controle constituem o núcleo de estudo desta dissertação. São instrumentos jurídicos adotados principalmente por companhias abertas com dispersão acionária, visando à proteção contra uma eventual tentativa de tomada de controle. O assunto é de especial interesse no atual momento do mercado de capitais brasileiro, que vem apresentando significativo desenvolvimento nos últimos anos e propiciando meios para a proliferação no Brasil de companhias abertas com dispersão acionária. O estudo do tema é feito concomitantemente à crescente utilização no Brasil de proteções contra tomadas de controle, inclusive por companhias não dotadas de dispersão acionária. Algumas medidas defensivas são inspiradas na experiência prática de outros países e vêm sendo transplantadas para o Brasil sem a adequada harmonização às características do nosso regime jurídico. Este trabalho analisa os efeitos da utilização de medidas defensivas e, na medida do possível, a admissibilidade da adoção de determinadas defesas no Brasil. São também abordados os balizamentos para a postura da administração de companhias diante de tentativas de tomada de controle. São estudados os padrões de tratamento do tema nos principais modelos existentes na experiência internacional, a fim de fornecer subsídios para a criação de uma identidade brasileira no tratamento das defesas contra tentativas de tomada de controle.<br>The defensive anti-takeover measures constitute the core area of study in this dissertation. These are legal devices adopted mainly by publicly-held companies with widespread ownership dispersion, aiming at protection against an eventual takeover attempt. The subject is of special interest at the current moment of the Brazilian capital markets, which have shown significant development in the recent years, providing means for the proliferation in Brazil of publicly-held companies with widespread ownership dispersion. The study of the issue is done concomitantly with the increase of utilization in Brazil of anti-takeover protections, including by companies without widespread ownership dispersion. Some defensive measures are inspired by the practical experience of other countries, being transplanted to Brazil without the proper harmonization with the characteristics of our own legal system. This work analyzes the effects of the utilization of defensive measures and, to the extent possible, the admissibility of adoption of certain defenses in Brazil. The boundaries for the behavior of the management of companies under takeover attempts are also approached. The patterns for the treatment of this issue in the main existing models in foreign experience are studied, so as to provide subsidies to the creation of a Brazilian identity in the treatment of the defenses against takeover attempts.

В роботі показано, що внаслідок екзотермічних реакцій, що протікають в процесі напилювання, досягається оптимальна об’ємна структура, у якої тверді зони, що складаються з більш крихкого матеріалу, ізольовані одна від однієї, а між ними розташована матриця з в’язкого матеріалу – виконується так званий принцип Шарпі-Бочвара.<br>В работе показано, что в результате экзотермических реакций, протекающих в процессе напыления, достигается оптимальная объемная структура, в которой твердые зоны, состоящие из более хрупкого материала, изолированные друг от друга, а между ними расположена матрица из вязкого материала - выполняется так называемый принцип Шарпи-Бочвара.<br>Іt is shown that due to exothermic reactions during spraying, achieved optimal three-dimensional structure, which has a solid zone consisting of a brittle material, isolated from one another, and between them is a viscous matrix material - performed so called Sharp-Bochvar.

La mesura de l’alçada del salt vertical és un indicador de la força i la potència del tren inferior. S’han trobat nombroses eines per a la mesura del salt a partir de la distància, el temps, l’acceleració o la filmació. A excepció del programari d’anàlisi de vídeo Kinovea, la resta són caixes negres que impedeixen la inspecció completa per part de tercers. El projecte Chronojump-Boscosystem proposa la creació d’un sistema de mesura amb programari i maquinari lliures i la compartició de les dades entre els interessats. Objectius: 1) Crear, validar i distribuir una eina de llicència lliure que mesuri els temps de contacte i de vol en el salt vertical, utilitzant una plataforma de contactes. 2) Desenvolupar i validar una eina lliure per a mesurar l’angle de flexió de l’articulació del genoll,prèvia un salt CMJ, en una filmació bidimensional sense l’ús de marcadors. 3) Desenvolupar una eina lliure que s’integri amb les anteriors i permeti compartir dades entre avaluadors per tal de construir taules de percentils. Metodologia. Respecte al primer objectiu: Es va crear un microcontrolador amb KiCadi es va validar amb un generador d’ones quadrades i comparant la captació amb la d’un oscil•loscopi. Es varen desenvolupar dos tipus de plataformes de contactes: rígida de fibra de vidre i flexible d’escuma de polièster. Es varen validar les plataformes per la pressió mínima necessària per a l’activació en diferents punts amb cèl•lula de càrrega,i també per la comparació dels temps d’activació/desactivació respecte al Gold Standard en una mostra de8 subjectes experimentats, realitzant salts submàxims amb un peu a cada plataforma. Es va desenvolupar i validar un programari de gestió seguint els principis de les metodologies àgils. Es va traduir el programar i per part de voluntaris. Respecte al segon objectiu: Es va desenvolupar i validar un programari de seguiment usant OpenCV. Es va crear un model lineal de predicció de l’angle de flexió del genoll a partir de l’anàlisi de l’alçada percentual de les cames respecte a la màxima extensió, i la ubicació de la ròtula respecte a la variable anterior. Per a aquesta anàlisi es van utilitzar les dades obtingudes pel programari de seguiment dissenyat ad-hoc, en una mostra de 35 salts executats per 13 subjectes. Es va validar el model per comparació amb l’angle real en fotogrames no utilitzats en l’entrenament del mateix. Respecte al tercer objectiu: Es van crear criteris de fiabilitat de les dades segons el consens d’un grup de discussió. Es va desenvolupar un programari per a compartir dades usant serveis web. Resultats: Totes les eines tecnològiques s’han desenvolupat i les seves llicències són lliures. L’error del microcontrolador és de 0,1%. La validesa de la plataforma de fibra de vidre és de 0,95 (CCI). La mida del programari de gestió és propera a les 110.000 línies de codi i està disponible en 7 idiomes. La mitjana de l’error de predicció en la flexió del genoll és de 2,6º. Fins al moment s’han compartit 3462 saltsde751personesperpartde24 avaluadors diferents. S’han comptabilitzat 16 publicacions de tipus científic d’altres autors usant las eines creades. Les llicències lliures atorgades permeten que qualsevol interessat pugui revisar en profunditat els instruments dissenyats, adquirir-los a baix cost o construir-los pel seu compte, sense violar normes ètiques o legals.<br>La medición de la altura del salto vertical es un indicador de la fuerza y potencia del tren inferior. Se han encontrado numerosas herramientas para la medición del salto ya sea a partir de la distancia, el tiempo, la aceleración o la filmación. A excepción del software de análisis de vídeo Kinovea, el resto son cajas negras que impiden su completa inspección por parte de terceros. El proyecto Chronojump-Boscosystem propone la creación de un sistema de medición con software y hardware libres y la compartición de los datos entre interesados. Objetivos: 1) Crear, validar y distribuir una herramienta de licencia libre que mida los tiempos de contacto y vuelo en el salto vertical, usando una plataforma de contactos. 2) Desarrollar y validar una herramienta libre para medir el ángulo de flexión de la articulación de la rodilla, previo a un salto CMJ, a partir de una filmación bidimensional y sin el uso de marcadores. 3) Desarrollar una herramienta libre que se integre con las anteriores y permita compartir datos entre evaluadores a fin de construir tablas de percentiles. Metodología. Respecto al primer objetivo: Se creó de un microcontrolador con KiCady se validó con un generador de ondas cuadradas y comparando la captación con la de un osciloscopio. Se desarrollaron dos tipos de plataformas de contactos: rígida de fibra de vidrio y flexible de espuma de poliéster. Se validaron las plataformas por la presión mínima requerida para la activación en distintos puntos con célula de carga, y también por la comparación de los tiempos de activación/desactivación respecto al Gold Standard en una muestra de 8 sujetos experimentados realizando saltos submáximos que saltaron con un pie en cada plataforma. Se desarrolló y validó un software de gestión a partir de los principios de las metodologías ágiles. Se tradujo el software por parte de voluntarios. Respecto al segundo objetivo: Se desarrolló y validó un software de seguimiento usando OpenCV. Se creó un modelo lineal de predicción del ángulo de flexión de la rodilla a partir del análisis de la altura porcentual de las piernas respecto a la máxima en extensión, y la ubicación de la rótula respecto a la variable anterior. Para este análisis se usaron los datos obtenidos por el software de seguimiento diseñado ad-hoc en una muestra de 35 saltos por parte de 13 sujetos. Se validó el modelo por comparación con el ángulo real en fotogramas no usados en el entrenamiento del mismo. Respecto al tercer objetivo: Se crearon criterios de fiabilidad de los datos según el consenso de un grupo de discusión. Se desarrolló un software para compartir datos usando servicios web. Resultados: Todas las herramientas tecnológicas han sido creadas y sus licencias son libres. El error del microcontrolador es 0,1%. La validez de la plataforma de fibra de vidrio es 0,95 (CCI). El tamaño del software de gestión es cercano a las 110.000 líneas de código y está disponible en 7 idiomas. La media del error de predicción en la flexión de la rodilla es 2,6º. Hasta la fecha se han compartido 3462 saltos de 751 personas por parte de 24 evaluadores distintos. Se han encontrado 16 publicaciones de tipo científico de otros autores usando las herramientas creadas. Las licencias libres otorgadas permiten que cualquier interesado pueda revisar en profundidad los instrumentos diseñados, adquirirlos a un coste bajo o construirlos por su propia cuenta sin violar normas éticas o legales.<br>Measuring the height of the vertical jump is an indicator of the strength and power of the lower body. Many tools can be found for measuring this jump, either by using distance, duration, acceleration, or by filming. With the sole exception of the video analysis software Kinovea, the rest appear to be closed black boxes, which are impervious to inspection by third parties. In the Chronojump-Boscosystem project, we propose the creation of a FLOSS (Free/Libre/Open-Source Software) measurement system that consists of free hardware and software combined with data-sharing among stakeholders. Objectives: 1) To create, validate and distribute a FLOSS tool that measures the contact and flight times of the vertical jump by using a contact platform. 2) To develop and validate a FLOSS tool for measuring the angle of flexion of the knee joint prior to a CMJ (Counter Movement Jump) based on a two-dimensional image without using markers. 3) To develop a FLOSS tool integrated with the ones described above which facilitates data-sharing among reviewers in order to build percentile tables. Methodology: Regarding the first objective: A microcontroller was created using KiCad, and a square wave generator was employed to validate the results. The data-capture was compared with that of an oscilloscope. Two types of contact-platforms were developed using different materials: rigid fiberglass and flexible polyester foam. These platforms were validated by the minimum pressure required for activation at different points by a load cell, together with the on/off time of our platforms in respect of the Gold Standard by a sample of 8 subjects performing submaximal jumps with one foot on each platform. Management software was developed and validated according to the principles of agile methodologies. Volunteers were used to translate the software. Regarding the second objective: OpenCV was used to develop and validate tracking software. A linear prediction model of the angle of flexion of the knee was developed from the analysis of the percentage height of the legs with respect to the maximum extension, and the location of the patella with respect to the previous variable. This analysis used data obtained from the special-purpose design tracking software, from a sample of 35 jumps by 13 subjects. This model was validated by comparison with the angle obtained from video frames not used in the training session. Regarding the third objective; reliability criteria for the data were established based on group discus¬sion. Software was developed to share data using web services. Results: All the technological tools have been created under the FLOSS system and are, in that sense, free. The margin of error of the microcontroller is 0.1%. The validity of the fiber-glass platform is 0.95 (ICC). The management software runs close to 110,000 lines of code and is available in 7 languages. The mean prediction error in the flexing of the knee is 2.6°.To date, 3462 jumps have been shared from 751 people by 24 different professionals. 16 scientific publications by other authors using the tools developed during the project have been found. The FLOSS licenses granted allow any interested party to review the designed tools in depth, and to purchase and/or build them, at low cost without violating any ethical or legal standards.

Dr. Eleine Mad är Madeleine Jacobsssons talesperson för dom vetenskapliga och paranormala upptäckter som uppstår i hennes världar. Hon beskriver innehåll, teknik och estetik utifrån ett kategoriseringssytem där konsten delas upp som olika typer av komponenter och därefter avkodas dessa allteftersom. För att förstå intuitionens inblandning i arbetsprocessen omförvandlas den till tre separata roller av en Sökare, Samlare och Myntare. Med rollerna försöker jag beskriva på vilka sätt som intuitionen är till gagn eller av förödelse för det konstnärliga arbetet. Sagan om M handlar om en grodlik karaktär, Delop, som lämnar sin hemplanet för att uppsöka andra världar. I sitt sökande hittar Delop ett folkslag vars syn och levnadssätt skiljer sig från hennes erfarenheter av “verkligheten” såsom hon lärt sig att överleva i den.<br>Dr. Eleine Mad is Madeleine Jacobsson's spokesperson for the scientific and paranormal discoveries that arise in her worlds. She describes content, tecniques and aesthetics based on a categorization system where art is divided into different types of components and then decoded as they go. To understand the intuition's involvement in the work process, it is transformed into three separate roles by a Seeker, Collector and a Myntare(In swedish language the one who is a "myntare" -is verbally declaring a concept or term). With these roles I try to describe in what ways intuition is beneficial or devastating to the artistic work. The story of M is about a frog-like character, Delop, who leaves the home planet to seek out other worlds. In her search, Delop finds a world whose views and lifestyles differ from her experiences of "reality" as she learned to survive in it.<br><p>Recorded sound and image material of the presentation is available for private use.</p>

In my thesis, I will answer question of what is sharp power, how China use sharp power and then on 4 cases illustrate that China has different strategies of influence operations. In Japan, respectively Okinawa, China is focusing on their common history and trying to lure Okinawans away from Japan. In South Korea, China exploit Korean economic dependence during the THAAD dispute to their advantage. In Taiwan, thanks to common cultural ties China wants to change everybody mind about Taiwanese "status-quo". In New Zealand, China utilize overseas Chinese community to spread Chinese propaganda. In the end, I will compare each country situation and find out where China's sharp power was effective and where it wasn't.

碩士<br>國立高雄第一科技大學<br>企業管理研究所<br>100<br>Share repurchase is one of the strategies that firms often use in last few years. Prior research shows that share repurchase announcements are positively related with share price, but there usually exists information asymmetry between firm managers and shareholders. Thus, for shareholders, it is difficult to monitor managers’ investment and financing decisions. In addition, it will sacrifice shareholders&apos;&apos; interest because of management incentive and self-interest consideration. This study is to examine the relationship between CEO power and share repurchase decision. This study uses the data of the Taiwan listed stocks during 2005-2010. The event study methodology is adopted in this study. The empirical results conclude that, the CEO power has a significant impact on the share repurchase policy. Moreover, whether CEO is the president, whether CEO serves as the founder of the firm, and whether CEO is member of the board, are all significant determinants on share repurchase decisions. Finally, CEO’s pay slice is negatively correlated with stock repurchase price range. This study only investigates the samples for firm’s share repurchase for the first time. The findings of this study suggest that most CEO power indexes are not significant determinants. So we conclude that, when firm managers adopt the first share repurchase decision, the main reason is to increase the undervalued stock price by share repurchase announcement and thus causes a positive impact on stock price in the short term, instead of self-interest consideration.

This research aims at investigating the potential relationship between controversy, market share and consumers’ perceptions of brand trust, power, and influence.Specifically, I examined whether controversial activities sponsored by brands with higher market share (vs.lower market share) may affect consumers’ perception of these brands’power, influence,and trustworthiness. Furthermore, this research contributes to traditional compensatory consumption theories. Specifically, this research investigates the potential relationship existing between individuals with feelings of low personal power and low personal control and the purchase and referral intentions of controversial brands with higher(vs. lower) market share.

碩士<br>中原大學<br>電機工程研究所<br>94<br>In recent years, growing concerns about environmental issues have demanded more energy efficient nonpolluting industrial facilities. The rapid advances in power electronic technology have enabled the significant developments in AC motor drive system. A high power AC motor drive must provide high current up to hundreds of amperes and still have high reliability and effectiency. Switching frequency of 2-20kHz are common with insulated gate bipolar transistor (IGBT) technology for power levels over 200kW. Under such requirements, IGBT paralleling is usually used to share the current equally. In this thesis, we study and realize the IGBT paralleling technology to implement a 460A AC motor drive system. The experimental waveforms are measured and discussed in details. The results are satisfactory.

碩士<br>國立中央大學<br>工業管理研究所碩士在職專班<br>100<br>Knowledge has become one of the key factors to sustain the organization’s competitive advantage. To encourage employee in an organization to share their knowledge, past studies have discussed reward systems, self-efficacy, and social norm. However, customer power could affect an organization’s decisive adoption. Thus, this study considered social power and integrated social power theory. Additionally, we integrated social exchange theory and social cognitive theory to examine personal motivation and knowledge self-efficacy. After this study collected and analyzed data from 16 countries, the result showed that reputation, reciprocity, and knowledge self-efficacy significantly affected intention to share knowledge. Additionally, customer power also significantly affected reciprocity, which in turn affected intention to share. The research model and hypotheses were supported by the empirical data. Therefore, we concluded that an organization involving customer service and commitment should focus on enhancing employee perception of customer power.

碩士<br>國立成功大學<br>財務金融研究所<br>92<br>The purpose of this study is to compare the forecasting ability among the ARIMA model, the Transfer Function model, the Artificial Neural Network model and the Genetic Algorithm model. To evaluate the forecasting accuracy, there are two dimensions taken into consideration: 1) the deviation between the actual quarterly EPS value and the forecasted quarterly EPS value, and 2) the changing direction from quarter to quarter between the actual quarterly EPS value and the forecasted quarterly EPS value. 　　In the aspect of the deviation between the actual quarterly EPS value and the forecasted quarterly EPS value, the empirical results show that the Transfer Function model outperforms the ARIMA model. Therefore, the settings of time lags of the Transfer Function model are adopted to the other two models. The empirical results reveals that the Genetic Algorithm model shows the best forecasting accuracy in both dimensions while the Artificial Neural Network model shows the worst forecasting accuracy in both dimensions. 　　In addition, both of the quarterly basic EPS data and the quarterly diluted EPS data were applied in forecasting future quarterly basic EPS. There is not enough evidence to support that using the diluted EPS data would yield higher accuracy than using the basic EPS data in the aspect of deviation. However, the empirical result shows that using the basic EPS data outperforms using the diluted EPS to forecast future basic EPS in the aspect of predicting the directions.

碩士<br>國立彰化師範大學<br>商業教育學系<br>100<br>The purpose of is about that how the power of CEO influences the treasury stock system.Moreover,it uses the CEO duality,social network and ownership as the proxy variable of CEO power.The period of this study is from2006 to 2010.The study is focus on the situation about the stock repurchase announcement,about the reaction of the market toward the stock proce and the condition of stock repurchase. Empirical results shows that the company intended to make stock repurchase announcement when the CEO's social network and ownership is higher.The study shows that the reaction of the market stock price after the announced the stock repurchase.When the CEO's structural and ownership power is higher,the market will have a positive reaction about the stock price.Generally,CEO power had no great impact on the repurchase the number of shares of treasury stock and implemantation rate;moreover,when the CEO has more power,the frequency of announcing repurchase of treasury stock will get higher.

碩士<br>國立臺北大學<br>都市計劃研究所<br>103<br>Constructing platforms of communication in local community to build a consensus with citizens has been an important means for Taipei Urban Regeneration Office in recent years. This research draws on empirical evidence from Share Vision project in Wanhua district, Taipei to explore the issue whether the consensus building process is controlled by power. I argue that a limited number of experts and elites with specialized knowledge shape the consensus through their discourse and forums which are built to present the openness of communicating process. And the strategies and action plans, as the outcome of Share Vision project, isn’t based on the consensus of most of citizens; on the contrary, they represent the viewpoint of very few people in local community. Therefore, the implementation of this policy fails to reduce the conflict within different social groups. But I infer that Taipei Urban Regeneration Office may advocate these strategies and action plans, which built by few people to other local communities and government departments more successfully, because of the development of political capital in participants.

Les objectifs récents en ce qui concerne la durabilité des systèmes électriques et l'atténuation des menaces liées au changement climatique modifient la portée des exigences de planification de ces systèmes. D'une part, les systèmes durables d'énergie à faible émission de carbone qui comportent une part élevée de sources d'énergie renouvelables intermittentes(IRES) se caractérisent par une forte augmentation de la variabilité intertemporelle et nécessitent des systèmes flexibles capables d'assurer la sécurité de l'approvisionnement électrique. D'autre part, la fréquence et la gravité accrues des phénomènes climatiques extrêmes menacent la fiabilité du fonctionnement des réseaux électriques et exigent des systèmes résilients capables de résister à ces impacts potentiels. Tout en s'assurant que les incertitudes inhérentes au système sont bien prises en compte directement au moment de la prise des décisions de planification à long terme. Dans ce contexte, la présente thèse vise à développer une modélisation technicoéconomique et un cadre d'optimisation robuste pour la planification des systèmes électriques multi-périodes en considérant une part élevée d'IRES et la résilience aux phénomènes climatiques extrêmes. Le problème spécifique de planification considéré est celui du choix de la technologie, de la taille et du programme de mise en service des unités de production conventionnelles et renouvelables sous des contraintes techniques, économiques,environnementales et opérationnelles. Dans le cadre de ce problème, les principales questions de recherche à aborder sont : (i) l'intégration et l'évaluation appropriées des besoins de flexibilité opérationnelle en raison de la variabilité accrue des parts élevées de la production d'IRES, (ii) la modélisation et l'intégration appropriées des exigences de résilience contre les phénomènes climatiques extrêmes dans la planification du système électrique et (iii) le traitement des incertitudes inhérentes de l'offre et la demande dans ce cadre de planification. En résumé, les contributions originales de cette thèse sont :- Proposer un modèle de planification du système électrique intégré multi période avec des contraintes dynamiques et en considérant un pourcentage élevé de pénétration des énergies renouvelables.- Introduire la mesure du déficit de flexibilité prévu pour l'évaluation de la flexibilité opérationnelle.- Proposer un ensemble de modèles linéaires pour quantifier l'impact des vagues de chaleur extrêmes et de la disponibilité de l'eau sur le déclassement des unités de production d'énergie thermique et nucléaire, la production d'énergie renouvelable et la consommation électrique du système.- Présenter une méthode permettant d'intégrer explicitement l'impact des phénomènes climatiques extrêmes dans le modèle de planification du système électrique.- Traiter les incertitudes inhérentes aux paramètres de planification du système électrique par la mise en oeuvre d'un nouveau modèle d'optimisation adaptatif robuste à plusieurs phases.- Proposer une nouvelle méthode de solution basée sur l'approximation des règles de décision linéaires du modèle de planification robuste.- Appliquer le cadre proposé à des études de cas de taille pratique basées sur des projections climatiques réalistes et selon plusieurs scénarios de niveaux de pénétration des énergies renouvelables et de limites de carbone pour valider la pertinence de la modélisation globale pour des applications réelles<br>Recent objectives for power systems sustainability and mitigation of climate change threats are modifying the breadth of power systems planning requirements. On one hand, sustainable low carbon power systems which have a high share of intermittent renewable energy sources (IRES) are characterized by a sharp increase in inter-temporal variability and require flexible systems able to cope and ensure the security of electricity supply. On the other hand, the increased frequency and severity of extreme weather events threatens the reliability of power systems operation and require resilient systems able to withstand those potential impacts. All of which while ensuring that the inherent system uncertainties are adequately accounted for directly at the issuance of the long-term planning decisions. In this context, the present thesis aims at developing a techno-economic modeling and robust optimization framework for multi-period power systems planning considering a high share of IRES and resilience against extreme weather events. The specific planning problem considered is that of selecting the technology choice, size and commissioning schedule of conventional and renewable generation units under technical, economic, environmental and operational constraints. Within this problem, key research questions to be addressed are: (i) the proper integration and assessment of the operational flexibility needs due to the increased variability of the high shares of IRES production, (ii) the appropriate modeling and incorporation of the resilience requirements against extreme weather events within the power system planning problem and (iii) the representation and treatment of the inherent uncertainties in the system supply and demand within this planning context. In summary, the original contributions of this thesis are: - Proposing a computationally efficient multiperiod integrated generation expansion planning and unit commitment model that accounts for key short-term constraints and chronological system representation to derive the planning decisions under a high share of renewable energy penetration. - Introducing the expected flexibility shortfall metric for operational flexibility assessment. - Proposing a set of piece-wise linear models to quantify the impact of extreme heat waves and water availability on the derating of thermal and nuclear power generation units, renewable generation production and system load. - Presenting a method for explicitly incorporating the impact of the extreme weather events in a modified power system planning model. - Treating the inherent uncertainties in the electric power system planning parameters via a novel implementation of a multi-stage adaptive robust optimization model. - Proposing a novel solution method based on ``information basis'' approximation for the linear decision rules of the affinely adjustable robust planning model. - Applying the framework proposed to a practical size case studies based on realistic climate projections and under several scenarios of renewable penetration levels and carbon limits to validate the relevance of the overall modeling for real applications

As sociedades anónimas em Portugal permitem constatar uma desvirtuação da separação que normalmente existe entre o titular das participações e os responsáveis pela gestão da empresa, característica inerente ao desenvolvimento desta estrutura societária e acentuada por requisitos dos tempos modernos. Esse tecido empresarial mantém, maioritariamente e sem prejuízo das sociedades cotadas em bolsa, uma estrutura enraizada em matrizes familiares, ou com características geralmente atribuídas a Pequenas e Médias Empresas, mantendo um alinhamento muito próximo da cultura institucional dos accionistas. Nesse enquadramento destaca-se uma questão mais genérica e natural na sua essência: quem, no quadro empresarial de uma sociedade anónima dos tempos modernos, tem o poder sobre a estrutura, nomeadamente ditando o futuro dos meios de produção e as soluções de financiamento? A resposta imediata parece recair sobre os titulares das participações, porquanto a criação da sociedade dependeu da sua vontade originária. Mas será mesmo assim? Com efeito, a gestão dessas sociedades tem chamado a si mais poderes, correspondendo a um progressivo incremento das respectivas obrigações e responsabilidades. A nossa investigação não tem como finalidade o mero estudo dos órgãos sociais da sociedade anónima, pois não estaríamos a alcançar o diferencial dinâmico pretendido. Procura, antes, a resposta à questão sobre quem detém o controlo da sociedade – se a Assembleia Geral ou a Administração – analisando se as soluções criadas no ordenamento jurídico nacional se encontram adequadas à representação dos diversos poderes e interesses existentes na empresa, designadamente se daí resulta um equilíbrio ou se o poder se encontra, de alguma forma, mitigados.<br>In Portugal joint stock companies present a distortion in usual segregation between the roles of share holders and company managers, which represents a specific characteristic in the development of this corporate structure, enhanced by requirements of modern times. This entrepreneurial, in its majority and without prejudice of listed companies, maintains a structure rooted in family structures or with characteristics usually attributed to small and medium-sized enterprises, keeping a tight alignment with the institutional culture of shareholders. In this scenario a wider and obvious issue arises: who, in the context of a business corporation of modern times, has the power over the structure, including the enforcement to dictate the future of the means of production and financing solutions? The immediate answer seems to lie upon the share holders, since the incorporation of the company depends on their will. But should this be enough? Indeed, management of stock companies has been gathering more powers, corresponding to a gradual increase of their duties and responsibilities. This research does not aims the merely study of the governing bodies of the corporation since we wouldn’t achieve the desired differential dynamic. Instead, it seeks to answer the question of who has control of the stock company – the General Assembly or the Management – further analyzing if solutions created by Portuguese Law are adequate to the representation of the different powers and interests within the company and more specific if there are any equilibrium or if the over power is somehow mitigated.