No description available.

During the past five years, fourteen financial holding companies have been founded by stock for stock mergers corresponding to the policies and deregulations in Taiwan. Among these M&As transactions, the exchange ratio for each combination, which is determined by the reported earnings in both acquiring and acquired firms, affects the success of the merger most. Therefore, our research focuses on whether financial institutions manage their reported earnings in order to get more favorable price for maximizing their shareholders’ wealth. From empirical results in Taiwan’s banking industry, we find (1) that the degree of earnings management is much higher in the period prior to M&As announcements given financial institutions in Taiwan are used to manipulating earnings at usual times, (2) that those financial institutions with higher degree of earnings management indeed get more favorable exchange ratios within M&As transactions relative to those with lower degree of earnings management for both acquiring and acquired companies. We also make an investigation for investors’ reactions toward behaviors of earnings management. By focusing on the sample of Taiwan’s financial holding companies, empirical results show that market investors will not punish those financial institutions obtaining better exchange ratios by manipulating reported earnings in the market since they can’t see through managers’ tricks on reported earnings.

Univ., Diss.--Zürich, 1994. / Auch als: Schweizer Schriften zum Handels- und Wirtschaftsrecht ; 157.

Thesis (M.B.A.)--University of Hong Kong, 1991.

Universiẗat, Diss., 2002--Frankfurt (Main).

Submitted by BKAB Setor Proc. Técnicos FGV-SP (biblioteca.sp.cat@fgv.br) on 2013-02-26T15:05:37Z No. of bitstreams: 1 1198302156.pdf: 2815905 bytes, checksum: 59d2912f3f181b2f3d4effdbddce1897 (MD5) / A presente monografia tem por objetivo servir de introdução ao estudo sistemático de um tipo de sociedade cada vez mais difundida nacional e internacionalmente: a 'holding'. Assim, ao invés de optarmos por um estudo teórico mais profundo dos aspectos jurídicos do instituto, preferimos uma aproximação mais prática, que permitisse a aplicação dos conceitos expostos na área da administração de empresas. Esta diretriz decorreu naturalmente da área de concentração a que se vincula a monografia, qual seja, Direito Aplicado à Administração.

TESIS PARA OPTAR AL GRADO DE MAGÍSTER EN TRIBUTACIÓN / Reinaldo Hoffmann Castro [Parte I], Guillermo Concha Barrientos [Parte II] / Los gastos en que incurren las empresas dentro del desarrollo de sus actividades son elementos de gran interés para quienes conforman la Administración de éstas, especialmente cuando un grupo de ellas se han constituido como una Estructura Holding, empresas que en su afán por maximizar sus utilidades por medio de la eficiencia en el uso de los recursos económicos y administrativos usualmente no consideran el criterio tributario a la hora de determinar donde concentrar determinados gastos. Debido a lo anterior, los gastos son elementos de gran interés para la autoridad administrativa que ve en su naturaleza la posibilidad que estos no cumplan los requisitos establecidos en el artículo 31, o que éstos se hayan rebajado más allá de los márgenes permitidos por la Ley, generando a través de estas deducciones una menor tributación del Impuesto de Primera Categoría o del Impuesto Único establecido en el artículo 21 de la LIR. Las sociedades holding buscan fundamentalmente satisfacer sus necesidades de negocio a la hora de estructurase, reducir sus costos y gastos, abrir nuevos mercados, ser más competitivos, etc., y en este proceso surgen implicancias tributarias en materia de reconocimiento de gastos para las cuales deben sujetarse a las instrucciones que sobre la materia ha impartido el SII. Especialmente deben atender las instrucciones sobre la correlación de ingresos y gastos de acuerdo a los distintos regímenes tributarios que les afecta, imputar los gastos generales de uso común en la proporción que representen los diversos ingresos de cada régimen tributario respecto del total de ingresos, entre otras.

Thesis evaluates incoming goods from suppliers at HOPI CZ.Its main objective is to eliminate shortcomings in the document flow, while mapping out all the facts that affect this process. Thesis is divided into four chapters and also includes an annex containing the documents used when receiving goods from suppliers.

Samples of raw whole milk were heated at L5, 50 and 75 C for 0, 30, 60, llU and 240 min. After heat treatment each sample was subdivided and portions held at O C for 0, 30, 60 and 120 min. In a second experiment samples of milk were heated at 25 and 50 C for the same lengths of time as before but this time at 75 C for only 5, 10, 15 and 20 min. A constant holding time of 30 min was used after the heat treatments. Following the various heat treatments pH of each sample was measured and rennet clotting properties of milk at a constant rennet concentration were determined using the Formagraph instrument. The 75 C heat treatment of both experiments was left out from the statistical analysis. Results obtained in the first experiment indicate that cold storage at O C for up to 120 min has no significant effect on pH or on rennet-clotting properties of milk. Milk that was heated at 75 C for 30 min or longer did not coagulate. Results of the second experiment show that increase from 25 C to 50 C and extended heating time both reduce pH and clotting time. However, curd firming rate and cutting time are only affected by the length of time that the milk is heated. When milk is heated at 75 C coagulation time, curd firming rate and cutting time of curd are severely retarded.

No description available.