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Abstracts As the constant innovation of science and technology, and the continual internationalization of market, the environment of business operation has become increasingly competitive. An enterprise must make use of its own tangible capitals to conduct the innovation, revamping and renewal of products, processes, equipments, techniques and procedures. All of these activities should be achieved by means of capital expenditure project. Knowledge is the most important resource of business in 21th century. However, it must be conducted through capital input to convert, utilize and implement the knowledge in the whole operation and process of a business. Through transforming knowledge to action, a business can create its core value and enable itself to grasp competitive edge, and realize corporate vision. China Steel Corporation is the subject of this research. CSC is attributed to heavy industry with the characteristics of capital and technology intensive, and long-term investment. Its investment project is indeed a highly knowledge intensive process. Hence, it is an emergent issue for a business to integrate the practice of knowledge management and investment projects so that knowledge asset can assist a business to allocate and utilize its own limited resource adequately, avoid wrong investment, and develop its best performance. The goal of this research is to examine the theoretical application on practice focusing on the integration of capital expenditure and knowledge management, of a business, to pursue its optimal investment performance. We try to find out the nature and characteristics, activities of knowledge management, and the factors that enable knowledge management and their current status. Then investigate the practical status of a business utilizing knowledge to solve its problems in the process of capital expenditure planning and decision-making. Finally, we set the results of our interviews and investigations as the basis of our empirical analysis, and our conclusions as listed below: 1. the core aspects of investing in knowledge nature are the innovation of equipments, technology and materials, as well as the high platform assessment decision-making capability. 2. knowledge creation capability is the competitive edge for CSC¡¦s investment projects. 3. knowledge integration is the key mechanism for a business to form its decision-making of investment. 4. the emphasis on environmental discipline and security of IT system will constrain the activities of knowledge management. 5. the accumulative structure differs in different divisions 6. the efficiency of knowledge management will be reduced if the guiding integration mechanism is insignificant. 7. the most helpful factors to knowledge market: mediator and market reward. 8. knowledge management will be the core task of business investment.

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This dissertation examines the tax treatment of interest incurred in financing mining capital expenditure. The capital expenditure under consideration is shaft-sinking and mining equipment. The reason for concern as regards this form of capital expenditure lies in the provisions of section 36(11)(a) of the Income Tax Act 58 of 1962 (‘the Act’). This provision counteracts section 15(a) read with sections 36(7E) and 36(7F) promulgated to encourage investment in mining through the immediate redemption of capital expenditure. Although mining companies generally finance shaft sinking and the acquisition of mining equipment, interest or finance charges are not capital expenditure for the purposes of section 36 of the Act. The study finds that on the basis of the exclusion referred to above, interest or finance charges cannot be deducted in terms of section 15(a) of the Act, against income earned from mining operations. The study, however, finds that section 11(a) or section 24J of the Act, can be relied on to deduct interest incurred to finance shaft-sinking and mine equipment. In order to rely on section 11(a), the interest or finance charges must have been incurred, but not however necessarily, by a person conducting trade for the production of income. It must further not be capital in nature. In contrast, section 24J(2), requires a person who is conducting trade to have incurred the interest in the production of income – there is no requirement that it must not be of a capital nature. Section 24JA works hand-in-hand with section 24J in that any amount deemed as interest in terms of a diminishing musharaka or murabaha arrangement, can be deducted against income under section 24J(2). The study recommends that section 36(11)(a) be amended by including interest or finance as capital expenditure. If this is done mining operators will no longer have to use sections 11(a) or 24J – provisions which fall outside of the mining tax regime – to claim a deduction. Amending section 36(11) would ensure that interest or finance charges are fully deductible against mining income because a deduction under section 11(a) or 24J(2) depends on the quantum of non-mining income. The study concludes that this recommendation is unlikely to be considered as the 2016 Davis Tax Committee Report on Hard Rock Mining recommended to the Minister of Finance that the entire mining tax regime be scrapped and that the taxation of mining be aligned with the tax regime for manufacturing. / Mini Dissertation (LLM (Tax Law))--University of Pretoria, 2020. / Mercantile Law / LLM (Tax Law) / Unrestricted

This study explores whether sunk cost effects exist among business managers in Taiwan. Based on the prospect theory and responsibility theory, we explored the impact of manager¡¦s personality traits on sunk cost effects. Besides exploring the effects of risk perception and felt responsibility individually, we went further than previous studies by analyzing the impact of the interaction between the two on sunk cost effects, providing a more integrated explanation for the causes of sunk cost effects. We use experimental research method as research subjects. This study employed 201 managers in listed and OTC Taiwanese firms as subjects, and used moderated regressions to examine the relationship between the variables of interest. The results show that risk perception only affects sunk cost effects under low responsibility conditions; and responsibility only affects sunk cost effects under low risk perception conditions. We also provide the implication of this study.

The aim of this diploma thesis is to evaluate the capital expenditures of regions in terms of their volume, structure and dynamics. Data analysis of 13 regions of the Czech Republic for the period 2002 to 2016 was carried out to determine the determinants of expenditure behaviour of local self-governing units. The explained variable was the amount of capital expenditures of regions per inhabitant. Through a panel regression, 5 key factors influencing regional capital expenditures were identified. The capital expenditures of the regions in the previous year, the amount of tax revenues of the previous year, non-tax revenues and received transfers of the current year, and finally the level of indebtedness of the region, were confirmed as significant. The other tested factors did not appear to be statistically significant.

Although corporate environmental accountability is receiving unprecedented attention in the United States from policy makers, the capital market, and the public at large, extant research is limited in its examination of the implications of strategic corporate environmental initiatives on accounting and auditing. The purpose of my dissertation is to address these implications by examining the association between firm environmental initiatives and audit fees, capital expenditures, and earnings quality using multivariate regression analysis. I find that firms engaged in more strategic environmental initiatives tend to have significantly higher audit fees and capital expenditures, and significantly lower levels of earnings manipulation measured using discretionary accruals. These results support the notion that auditors do recognize the importance of environmental initiatives when conducting the year-end financial statement audit, an idea that positively reflects upon the auditor’s monitoring role. The results also demonstrate the increased amount of capital resources required to participate in strategic environmental initiatives, an anecdotal notion that had yet to be empirically supported. This empirical support provides valuable insights on how environmental initiatives materially impact corporate financial statements. Finally, my results extend the extant literature by demonstrating that the superior financial performance reported by environmentally active firms is less likely driven by earnings manipulation by management, and by implication, more likely a result of real economic gains. Taken together, my dissertation establishes a strong and timely foundation for current and future research to explore corporate environmental initiatives in the United States and globally, a topic increasingly gaining momentum in today’s more eco-conscious world.

<p>The effectiveness of foreign aid in bringing economic and social development is mired in controversy. However, despite the controversial debates on its effectiveness, poor countries of the world have been receiving and using aid as a leverage to relieve themselves from development constraints they faced. Ethiopia is no exception amongst developing countries. Since the time it joined the World Bank group in 1945, foreign capital inflow has remained an important source of revenue for the government. This paper examines the fiscal impact of aid inflow into Ethiopia using time series data for the period 1975-2005. The empirical findings reveal that inflow of foreign aid influences public decision on revenue and expenditure patterns. The result shows that a larger proportion of aid is allocated to capital expenditure and that only a small proportion goes to recurrent expenditure. There is a strong positive association between aid inflow and capital expenditure. The finding also shows that, while a very weak negative association exists between aid and taxation effort, aid and borrowing are used as alternative source of finance.</p>

<p>The effectiveness of foreign aid in bringing economic and social development is mired in controversy. However, despite the controversial debates on its effectiveness, poor countries of the world have been receiving and using aid as a leverage to relieve themselves from development constraints they faced. Ethiopia is no exception amongst developing countries. Since the time it joined the World Bank group in 1945, foreign capital inflow has remained an important source of revenue for the government. This paper examines the fiscal impact of aid inflow into Ethiopia using time series data for the period 1975-2005. The empirical findings reveal that inflow of foreign aid influences public decision on revenue and expenditure patterns. The result shows that a larger proportion of aid is allocated to capital expenditure and that only a small proportion goes to recurrent expenditure. There is a strong positive association between aid inflow and capital expenditure. The finding also shows that, while a very weak negative association exists between aid and taxation effort, aid and borrowing are used as alternative source of finance.</p>

Magister Administrationis - MAdmin / The effectiveness of foreign aid in bringing economic and social development is mired in controversy. However, despite the controversial debates on its effectiveness, poor countries of the world have been receiving and using aid as a leverage to relieve themselves from development constraints they faced. Ethiopia is no exception amongst developing countries. Since the time it joined the World Bank group in 1945, foreign capital inflow has remained an important source of revenue for the government. This paper examines the fiscal impact of aid inflow into Ethiopia using time series data for the period 1975-2005. The empirical findings reveal that inflow of foreign aid influences public decision on revenue and expenditure patterns. The result shows that a larger proportion of aid is allocated to capital expenditure and that only a small proportion goes to recurrent expenditure. There is a strong positive association between aid inflow and capital expenditure. The finding also shows that, while a very weak negative association exists between aid and taxation effort, aid and borrowing are used as alternative source of finance. / South Africa