Static efficiency in Dutch supermarket chain

In this study, we analyse changes in market power in the Dutch supermarket chain and discuss the effects on welfare. The supermarket chain includes consumers, supermarkets, buyer groups and food manufactures. We look at the theoretical background of market power. �Special attention has been paid to recent theories of buyer power of retailers in the vertical chain. Theory suggests that supermarkets can enhance their buyer power by, for instance, using own private brands as an outside option in bargaining with manufacturers. Using firm-level data, indicators reveal that profit margins of both supermarkets and of manufacturers have declined between 1993 and 2005. Hence, competition on these markets seems to have become tougher and mark-ups lower over time. Furthermore, we find no significant empirical indications that supermarkets were able to use their buyer power to shift profits from manufacturers to supermarkets after 1993. Finally, all else equal, in terms of welfare consumers have benefited from fiercer competition in terms of lower prices.

BPM News - Folge 3

Die BPM-Kolumne des EMISA-Forums berichtet über aktuelle Themen, Projekte und Veranstaltungen aus dem BPM-Umfeld. Schwerpunkt der vorliegenden Kolumne bildet das Thema Standardisierung von Prozessbeschreibungssprachen und -notationen im Allgemeinen und BPEL4WS (Business Process Execution Language for Web Services) im Speziellen. Hierzu liefert Jan Mendling von der Wirtschaftsuniversität Wien in aktuelles Schlagwort. Des weiteren erhalten Leser eine Zusammenfassung zweier im ersten Halbjahr 2006 veranstalteten Workshops zu den Themen „Flexibilität prozessorientierter Informationssysteme“ und „Kollaborative Prozesse“ sowie einen BPM Veranstaltungskalender für die 2. Jahreshälfte 2006

Banco Portugês do Investimento: equity research 2013

The objective of this dissertation is to value one of the biggest Portuguese banks. A detailed valuation methodology was done based on the light of the most reliable academic literature. Inside the theme, was done also a detailed review of the business and the sectors where the bank operates. In the end, it was achieved an accurate equity valuation.O grande objetivo deste trabalho prende-se com a avaliação de um grande banco Português neste período de crise. Os bancos são considerados a principal razão da crise essencialmente pela sua falha de avaliação de risco e pela forma alavancada com que seguiam a sua atividade e negocio. Nesta óptica, os bancos portugueses têm sido forçados a remodelar todo o seu negócio para de certa forma conseguirem sobreviver nos tempos de hoje e por outro lado, tentar mover e alimentar a economia portuguesa. Falando do BPI, este é um banco que sempre teve políticas de negócio muito conservadoras no que toca a cedência de crédito daí, nos tempos de hoje ser o banco com melhor índice de qualidade de ativos. No entanto, esta rubrica, vê-se ainda sem tempos de mudança, visto que anualmente se mantem em declínio. É difícil escolher qual o melhor método de avaliação nestes tempos adversos, visto que o momento é de tal incerteza, que tentar prever o futuro se pode tornar errado. Contudo, o autor escolher três formas de avaliação, onde obteve resultados distintos. Nas três assumiu de forma coerente e ponderada os drivers para chegar aos resultados finais. Dentro dos resultados obtidos, o autor escolheu o método dos múltiplos como a melhor forma atual para chegar ao preço da ação do BPI para 2013, considerando o valor refletido na ação o mais plausível e real. No que toca aos outros métodos, foram encontrados valores um pouco discrepantes daquilo que é a realidade, os motivos por trás do mesmo, prendem-se com o que o autor referiu anteriormente que, de certa forma, afetaram as estimativas e diluíram o valor da ação

Characterizing local biological hotspots in the Gulf of Maine using remote sensing data

Researchers increasingly advocate the use of ecosystem-based management (EBM) for managing complex marine ecosystems. This approach requires managers to focus on processes and cross-scale interactions, rather than individual components. However, they often lack appropriate tools and data sources to pursue this change in management approach. One method that has been proposed to understand the ecological complexity inherent in marine ecosystems is the study of biological hotspots. Biological hotspots are locations where organisms from different trophic levels aggregate to feed on abundant supplies, and they are considered a first step toward understanding the processes driving spatial and temporal heterogeneity in marine systems. Biological hotspots are supported by phytoplankton aggregations, which are characterized by high spatial and temporal variability. As a result, methods developed to locate biological hotspots in relatively stable terrestrial systems are not well suited for more dynamic marine ecosystems. The main objective of this thesis is thus to identify and characterize local-scale biological hotspots in the western side of the Gulf of Maine. The first chapter describes a new methodological framework with the steps needed to locate these types of hotspots in marine ecosystems using remote sensing datasets. Then, in the second chapter these hotspots are characterized using a novel metric that uses time series information and spatial statistics to account for both the temporal variability and spatial structure of these marine aggregations. This metric redefines biological hotspots as areas with a high probability of exhibiting positive anomalies of productivity compared to the expected regional seasonal pattern. Finally, the third chapter compares the resulting biological hotspots to fishery-dependent abundance indices of surface and benthic predators to determine the effect of the location and magnitude of phytoplankton aggregations on the rest of the ecosystem. Analyses indicate that the spatial scale and magnitude of biological hotspots in the Gulf of Maine depend on the location and time of the year. Results also show that these hotspots change over time in response to both short-term oceanographic processes and long-term climatic cycles. Finally, the new metric presented here facilitates the spatial comparison between different trophic levels, thus allowing interdisciplinary ecosystem-wide studies

Study on Corruption in International Investment Arbitration

国际投资领域中的腐败问题越来越严重。尽管大多数国家的国内法中有关于腐败的刑法规定，但是国际投资领域下的境外腐败或跨国腐败问题，很少有国家作出专门立法。在国际法层面，联合国、经济合作与发展组织、欧盟等通过了反腐败的国际公约，公约的实施却不尽人意。 近年来，国际投资仲裁庭陆续裁决了一系列与腐败有关的国际投资争端，从这些案件来看，仲裁庭往往作出不利于投资者的裁决：一些以涉及腐败的国际投资合同不符合双边投资协定中的“投资符合东道国法律”条款而将其排除在管辖权之外，一些则以涉及腐败的国际投资合同不合法为由认定该投资不受到双边投资协定的保护，从而在实体程序中驳回投资者的主张。 显然，仲裁庭忽视了腐败行...Recently, there has been an obvious tendency to incorporate “sustainable development” into international investment agreements. The public policy of “anti-corruption” is also one of important aspects of sustainable development. However, engaging in corruption in international investment activities has been a widespread phenomenon from country to country. Although in most states, if not all, ther...学位：法学硕士院系专业：法学院_国际法学学号：1362014115023

Measuring Infringement of Intellectual Property Rights

© Crown Copyright 2014. You may re-use this information (excluding logos) free of charge in any format or medium, under the terms of the Open Government Licence. To view this licence, visit http://www.nationalarchives.gov. uk/doc/open-government-licence/ Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concernedThe review is wide-ranging in scope and overall our findings evidence a lack of appreciation among those producing research for the high-level principles of measurement and assessment of scale. To date, the approaches adopted by industry seem more designed for internal consumption and are usually contingent on particular technologies and/or sector perspectives. Typically, there is a lack of transparency in the methodologies and data used to form the basis of claims, making much of this an unreliable basis for policy formulation. The research approaches we found are characterised by a number of features that can be summarised as a preference for reactive approaches that look to establish snapshots of an important issue at the time of investigation. Most studies are ad hoc in nature and on the whole we found a lack of sustained longitudinal approaches that would develop the appreciation of change. Typically the studies are designed to address specific hypotheses that might serve to support the position of the particular commissioning body. To help bring some structure to this area, we propose a framework for the assessment of the volume of infringement in each different area. The underlying aim is to draw out a common approach wherever possible in each area, rather than being drawn initially to the differences in each field. We advocate on-going survey tracking of the attitudes, perceptions and, where practical, behaviours of both perpetrators and claimants in IP infringement. Clearly, the nature of perpetrators, claimants and enforcement differs within each IPR but in our view the assessment for each IPR should include all of these elements. It is important to clarify that the key element of the survey structure is the adoption of a survey sampling methodology and smaller volumes of representative participation. Once selection is given the appropriate priority, a traditional offline survey will have a part to play, but as the opportunity arises, new technological methodologies, particularly for the voluntary monitoring of online behaviour, can add additional detail to the overall assessment of the scale of activity. This framework can be applied within each of the IP right sectors: copyright, trademarks,patents, and design rights. It may well be that the costs involved with this common approach could be mitigated by a syndicated approach to the survey elements. Indeed, a syndicated approach has a number of advantages in addition to cost. It could be designed to reduce any tendency either to hide inappropriate/illegal activity or alternatively exaggerate its volume to fit with the theme of the survey. It also has the scope to allow for monthly assessments of attitudes rather than being vulnerable to unmeasured seasonal impacts

Equity valuation of Ibersol Group

Valuation has had an increase in importance since nowadays it is required in many contexts. The main purpose of the present dissertation is to value a Portuguese company, quoted in the Lisbon Exchange Market, Ibersol Group. The year-end 2011 price target derived for the company’s stock is €3,44 per share, an Accumulate recommendation. The valuation from the present dissertation is compared to the research made by BPI Investment Banking

Catalog of lunar mission data

Several series of spacecraft were developed, designed, built and launched to determine different characteristics of the lunar surface and environment for a manned landing. Both unmanned and manned spacecrafts, spacecraft equipment and lunar missions are documented