As a result of globalisation there are endless business opportunities out there in the business world. South African tax residents may purchase shares in a foreign company as an investment which can lead to that company being effectively controlled in South Africa for South African tax purposes. When a controlled foreign company ceases to be a controlled by South African tax residents it is deemed to have disposed of its assets the day immediately before this event and certain exit tax charges should considered. Sound tax policies are crucial to ensure stability in any tax system. Tax legislation may be amended from time to time in order to ensure this stability in the South African tax system. No research has been done on the practical implication of current amendments to legislation affecting a controlled foreign company when it ceases to be controlled in South Africa as a direct result of the issuing of new equity shares by the controlled foreign company to foreign investors. The aim of this study was to discuss the current amendments to tax legislation affecting controlled foreign companies as well as the practical issues experienced by controlled foreign companies and South African tax residents. Furthermore, the study aims to demonstrate whether South Africa’s tax legislation is in line with the international norm by comparing the literature reviewed, the results of case study and information gathered through interviews to the United Kingdom’s tax legislation. / Dissertation (MCom)--University of Pretoria, 2014. / hb2014 / Taxation / unrestricted

Syftet med denna studie var att undersöka subjektiva upplevelser av vägen ut ur narkotikamissbruk. Centralt för studien har varit att undersöka vad som enligt intervjudeltagarna har föranlett uppbrottet samt vad som har varit viktigt för att vidmakthålla drogfrihet. Studien bygger på narrativa intervjuer med fem individer som har haft ett tidigare narkotikamissbruk. Huvudresultatet visade att intervjudeltagarnas motiv för att lämna missbruket var till följd av missbrukets negativa konsekvenser. Flera av intervjudeltagarna uppgav att de hade nått en personlig botten innan de beslutade sig för att lämna missbrukslivet. Studiens resultat visade även att viktiga faktorer för att lyckas lämna missbruket var att byta vänskapskrets samt bostadsort. Det viktigaste i detta avseende var dock den egna viljan att sluta. För att vidmakthålla det drogfria livet visade resultatet att flera faktorer var betydelsefulla. Framträdande i intervjudeltagarnas berättelser var betydelsen av att ha en sysselsättning. / The purpose of this study was to examine the subjective experiences of the way out of drug abuse. Central to the study has been to investigate what, according to the interviewees, has caused the break up and what has been important for maintaining the drug-free life. The study is based on narrative interviewes with five individuals who have previously had a drug abuse. The study´s main results showed that the participants motivation for leaving the drug abuse was due to the negative consequences of the abuse. Several of the interviewees stated that they had reached a personal bottom before the break up of abuse. The results also showed that important factors for breaking up was to break with old friends and move to a new city. The most important thing for the break up was an internal driving force. In order to ensure a drug-free life the results showed that employment were important.

Relatedness, industrial branching and technological cohesion in US metropolitan areas, Regional Studies. Work by evolutionary economic geographers on the role of industry relatedness for regional economic development is extended into a number of methodological and empirical directions. First, relatedness is measured as the intensity of inputoutput linkages between industries. Second, this measure is employed to examine industry evolution in 360 US metropolitan areas. Third, an employment-weighted measure of metropolitan technological cohesion is developed. The results confirm that technological relatedness is positively related to metropolitan industry portfolio membership and industry entry and negatively related to industry exit. The decomposition of technological cohesion indicates that the selection of related incumbent industries complements industry entry and exit as the main drivers of change in metropolitan technological cohesion.

In the course of eurozone exit, the underlying stocks of American Depositary Receipts (ADRs) would be redenominated from euros into the new national currency. We exploit ADR investors’ exposure to currency redenomination losses to derive a novel measure of eurozone exit risk. We find that while domestic bank stocks are not significantly affected by domestic exit risk, there is a negative exposure to exit risk of other countries that is channeled through bilateral credit risk. For the real sector, exposure to eurozone exit risk is heterogeneous among industries and is less negative for more indebted companies.

Exit is an inevitable part of any business relationship. However, despite its importance, exit in buyer–supplier relationships is still a poorly understood phenomenon. Building on previous studies, this thesis addressed these concerns by empirically: a) identifying the economic and social antecedents that influence the exit decision; and b) validating how the antecedents of exit are related with the choice of exit strategies. To achieve these objectives, first, a systematic literature review was conducted to identify 82 studies that documented existing research on exit in buyer–supplier relationships. Second, informed by Transaction Cost Economics and Social Exchange Theory, a set of 88 testable hypotheses was developed and a survey captured data from 505 recently terminated relationships involving UK based firms. Finally, for data analysis, statistical techniques were employed including: a) analysis of variance; b) independent sample t–tests; c) multiple logistic regression; and d) multi–nomial logistic regression. The empirical findings of this thesis validated that: a) there are 8 economic and 14 social antecedents that influence the exit decision; b) lending support to extant research on exit, 57 hypotheses were accepted; c) 12 multiple logit models confirmed the relationship between a set of antecedents and exit strategies; and d) 6 multinomial logit models validated the relationship between a set of antecedents and a choice of one exit strategy over another. The results suggest that the influence of antecedents on the choice of exit strategies was subject to how the antecedents were analysed. The contributions of this research to Supply Chain Management literature are that we know now: a) which economic and social antecedents influence the exit decision; b) how individual antecedents affect exit strategies; c) how antecedents combine to affect exit strategies; and d) how antecedents combine to affect the choice of one exit strategy over another. This work provides an exit management tool box comprising a combination of data collection instrument, empirically derived framework and models that enables the managers to timely review the strength and weaknesses of their business relationships and their management processes.

Foreign investors are making larger investments in the Canadian venture capital (VC) market than Canadian investors, and Canadian VC exits are primarily M&As (Canada’s Venture Capital and Private Equity Association, various years). This research provides a joint exploration of foreign venture capitalists’ (VCs) participation in Canada and outcomes of VC exits. Using binary logistic regression and multivariate linear regression, this paper reports that the presence of foreign VCs in the Canadian market is accompanied with mixed exit-related outcomes. On the one hand, foreign VCs’ participation is associated with higher likelihood of a successful exit through initial public offering (IPO), greater capital availability, and shorter time to exit. On the other hand, the relation between foreign VCs’ participation and lower purchaser price per dollar of VC investment in exit through merger and acquisition (M&A) raises concerns about the monetary returns to Canadian investee firms and Canadian syndicate VCs. These empirical findings will help to facilitate a more comprehensive understanding of the Canadian VC market, as well as adding to the growing body of literature on cross- border VC investment.

This thesis deals with CNB foreign-exchange intervention from November 2013 in context of assumptions and impacts on the Czech economy. The theoretical part presents important monetary policy aspects, from conventional and unconventional tools to inflation targeting and deflation, to understand theoretical framework of analysis. Analytic part takes a look on Czech economy condition before interventions, especially inflation. Intervention impacts and exit strategies are examined further. Based on the analyzed data this thesis concludes that foreign-exchange interventions by Czech National Bank were not necessary and inevitable action.

The thesis is concerning valuation of Hügli Food, s. r. o., which is company operating in food processing industry. Thesis content four parts - strategic and financial analysis, generators of value and valuation itself. The aim of finacial analysis is to qualify acting of business in areas of profitability, stability, liquidity and viability. Strategic analysis leads to identification and examination of strengths and weaknesses. Final part of thesis is dedicated to valuation itself. Valuation methods were combination of DCF APV and exit multiple and market comparison.

The aim of the thesis is to determine the market value of MEAS CZ, s.r.o. to 31. 12. 2013. The thesis is devided into five parts. The first part contains characteristics of the company and the related strategic analysis which results in forecast of sales. Another part deals with financial analysis, which is to assess the financial health of the company. The fourth part begins with an analysis and prognosis value generators on the basis of the financial plan is built. The valuation is made by DCF Entity method, as an alternative method is chosen method of market comparison.

The purpose of this degree project was to get increased knowledge about thedifficulties youth might face while disengaging from a criminal lifestyle, and thisfrom a professional perspective. To achieve this I interviewed four professionalsworking within the Social service and Prison and probation service. Whenanalysing the material the general theory of the process of “role-exit” (Ebaugh1988) was used, as well as the theory about criminality as lifestyle (Bergström2009) There are a number of both inner and outer factors seeming to createdifficulties to the process of “role-exit”. Insufficient social network and prosocialexperience as well as a number of specific thought patterns are some of those.Youth trying to disengage from a criminal lifestyle seem to go through a similarprocess as the general “role-exit”, the specific difficulties they face has partly todo with having to deal with a negative “Ex-role” while in contact with people andat the same time trying to create a new one.