Increasing M&A activity has during recent years shown no indication of slowing down. Contrastingly the success rate of the M&A’s are still low, accordingly an increased frequency of demergers is a likely outcome. The demerger phenomenon has yet to reach the gaze of the academic community, where little is known surrounding the subject. This study takes a qualitative approach to try to understand the underlying reasons that drive a demerger process, and the factors that determine the success of a demerger process, through the lens of M&A literature. Our findings provide indications that the planning and execution of the disintegration and communication within a demerger correlates to demerger success. Furthermore, our contributions give indications that building employee commitment is an essential driver that enhances the possibility of a successful demerger.

Made available in DSpace on 2016-07-27T13:48:14Z (GMT). No. of bitstreams: 1 JESUS APARECIDO DOS SANTOS SILVA.pdf: 1058961 bytes, checksum: d72bbad0a1aa691b3deead6fd5c127e5 (MD5) Previous issue date: 2013-01-23 / This study is a dissertation on the Movement of Spiritual Renew al that happened in Brazil among Brazilian Baptists in the mid-fifties of the last century. This movement is influenced by the second wave of the Pentecostal Movement in Brazil. The historic churches: Methodist, Baptist and Presbyterian see their religious field being invaded by Pentecostalism with the nomenclature of Spiritual Renewal. The Movement of Spiritual Renewal is rejected by the Baptists mainly for its approximation of the Pentecostal Movement. This rejection causes a split in the denomination and the Movement for not disappearing following the path of institutionalization giving rise the national Baptist convention. / Este trabalho é uma dissertação sobre o Movimento de Renovação Espiritual que aconteceu no Brasil entre os Batistas, em meados dos anos cinquenta, do século passado. Esse movimento é influenciado pela segunda onda do Movimento Pentecostal no Brasil. As Igrejas Históricas: Metodista, Batista e Presbiteriana veem seu campo religioso ser invadido pelo pentecostalismo com a nomenclatura de Renovação Espiritual. O Movimento de Renovação Espiritual é rejeitado pelos Batistas principalmente por sua aproximação do Movimento Pentecostal. Essa rejeição causa uma cisão na denominação e o Movimento para não desaparecer segue o caminho da institucionalização dando origem à Convenção Batista Nacional

This paper analyses national and international background of the anti-avoidance rule described in article 105-A of such law, its scope and its relationship with corporate reorganizations’ Peruvian income tax regime. In addition, the article will cover the discussion on the relationship between general anti-avoidance rule and specific anti-avoidance rules. / El presente trabajo analiza los antecedentes nacionales e internacionales de la norma anti-elusiva vigente, prevista en el artículo 105-A de la referida Ley, su alcance y su relación con el régimen tributario aplicable a las reorganizaciones. Asimismo, se aborda la discusión sobre la dinámica en la aplicación de la citada norma con relación a la norma anti-elusiva general.