Le capital social
Transcription
Le capital social
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roupe A (plus de 50%) Canada (1990) Chine Danemark Finlande (1981, 1990) Hollande (1990) Norvège Suède B (40-50%) Australie (1981) Canada (1981) Finlande (1995) GB (1981, 1990) Hollande (1981) Irlande Islande Japon Suisse (1990) USA (1981, 1990) C (30-40%) Afrique du Sud (1981) Allemagne W (1990, 1995) Australie (1995) Autriche Belgique Bulgarie (1990) Corée du Sud Espagne (1981, 1990) Hongrie (1981) Inde Italie (1990) Mexique (1990) Pologne (1990) Rép. Tchèque Russie (1990) Suisse (1995) USA (1995) Groupe D (20-30%) Afrique du Sud (1990) Allemagne Est Allemagne W (1981) Argentine (1981, 1990) Bangladesh Bulgarie (1995) Chili Espagne (1995) France GB (1995) Ghana Hongrie (1990) Italie (1981) Mexique (1995) Nigeria (1990) Russie (1995) Uruguay E (10 à 20%) Afrique du Sud (1995) Argentine (1995) Colombie Mexique (1981) Nigeria (1995) Pologne (1995) Roumanie Slovénie Venezuela F (moins de 10%) Brésil Pérou Philippines Turquie Pays à dynamique ascendante Allemagne Ouest (+10,1) Canada (+2,6) Hollande (+9,6) Italie (+9) Japon (de 40,8 à 46) Les chiffres entre parenthèses indiquent l’écart absolu de réponses positives entre les deux dates extrêmes. Pour le Japon et la Corée on mentionne les deux valeurs afin de justifier l’idée d’une dynamique alors qu’ils ne changent pas de groupe lettre. Pays à dynamique descendante Afrique du Sud (-13,1) Hongrie (-8,5) Argentine (-9,5) Nigeria (-3,5) Australie (-7,9) Pologne (-17,6) Bulgarie (-6,7) Russie (-14,6) Corée du Sud (de 38 à Suisse (-5,4) 30.3) Espagne (-5,8) USA (-11,2) Grande Bretagne (-15,3) 99 A / 9 1 O 66@ 0 # " T H , & . (C , # & + - & & ( P P # # + 5 $ # $* ;( Q Q $ # & / & 5 + - # - + P Q 1 0 A" . :( @D :(B = :(B: :(B6 :(97@ :(D:? ; / O . :( 7? :(?9B :(?9@ :(B= :(9=B :(DD " P # Q " / 1 0.70 Danemark Suède GB France Allemagne Hongrie Irlande Japon Hollande Italie Norvège Canada Chine Espagne Mexique 0.15 Inde Afrique r=0.668 0.70 0.15 x = trust y = ustrust 0.356 Y en fonction de X 0.688 9D