A problem South-Africa is facing is that the wealth created by mines (also called economic rent) may not yet get distributed satisfactorily evenly between the nation and investors. In an attempt to find a solution to the abovementioned dilemma, government initiated a feasibility study for the nationalisation of mines. This proposal was however waived for two reasons: firstly that it would be unaffordable for government to buy out private companies and secondly, that it would create discontent amongst foreign investors, which would result in them withdrawing access to financing. Consequently, the ANC, during 2012 in the SIMS report proposed a possible implementation of a resource rent tax (RRT), akin to Australia’s, to ensure that the State receives a greater/more equitable share of the wealth. Developments in the mining industry since 2012, have drawn attention to two serious issues: labour related concerns and continued strikes as well as a reduction in foreign direct investment as a result of negative investor sentiment towards South Africa. These issues are directly related to the perception that the community (including mine workers) do not benefit fairly from the wealth created by mines, which results in ongoing labour unrests and subsequently in investment withdrawal. It would seem that even though no further consideration has been given to the implementation of a RRT since 2012, it may be regarded as a possible and sensible solution. This study focuses on the possible impact on the taxation payable by the South African mining industry, if a RRT were to be introduced. Research has been conducted in order to obtain an understanding of the working of a RRT, to analyse South Africa’s current tax regime, to develop a simple hypothetical case study to evaluate both the quantitative and qualitative impact of the introduction of a RRT system on South African mining tax (for both the investor and the state). The study concludes that the introduction of a RRT can potentially result in a more fair distribution of resource rents between the investor and the state (community - rightful owners of the natural resources). Research however proved that this is likely to influence the investor’s investment decisions which in turn may result in a general downturn in mining operations and profits. Based on the qualitative results of a case study, a RRT was proven to be inefficient due to the fact that it will only tax mining companies with a higher rate of return and in effect higher risk companies. As investors are prepared to take on high risk projects for the purpose of generating higher returns, the introduction of an RRT reducing this return might influence an investor’s decision. The potential impact on investors’ decisions may be counteracted through further research with regard to variables used in the RRT model namely the percentage of tax charged and the required rate of return. A RRT is therefore proven to have some benefits, even though some aspects will require further evaluation. / MCom (South African and International Tax), North-West University, Potchefstroom Campus, 2015

Thesis (MDF)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: The earnings of small and medium enterprises (SMEs) depend entirely on their reinvestment rate of capital. A quicker reinvestment rate of capital would not be possible when debtor’s collection period and stockholding period is slow, nor will it be possible with a shorter creditor’s payment period. Therefore, working capital management is fundamental when it comes to the overall performance of small and medium enterprises. As a result, this study examines the impact of working capital management on the profitability of small and medium enterprises in South Africa. Working capital management has a direct relationship with profitability. The data selected in this study consists of all firms listed on AltX, which is a division of the Johannesburg Stock Exchange, for the period 2000 to 2013. Descriptive statistics and regression analysis were used to evaluate the data collected and the results concurred with the relationship found between working capital management and profitability. Specific variables such as the cash conversion cycle, debtors’ collection period, stockholding period and creditor’s payment period are all associated with the profitability of firms. The dependent variable is return on assets and is the measure of profitability in this study. Furthermore, the results of this study may provide significant insight for financial analysts, shareholders, creditors and managers.

This thesis is concerned with the relationships between profit, profit persistence, risk and competition within the US commercial bank sector. In particular, the thesis asks three questions: how profit and profit persistence are affected by changes in regulation designed to enhance competition; how profit persistence varies over time according to changes in market and economic conditions; how different aspects of banks' risk is affected by competition and market structure. Understanding the nature of these relationships is important given the prominent role banks play in the allocation of resources, the provision of capital to the economy and the stability of the financial system. Moreover, these roles in turn, have an effect on bank performance and wider economic growth and stability. Such issues have especially come to prominence following the financial crisis and thus there is a need for empirical evidence on which to base policy. To examine these relationships the thesis implements panel estimation techniques and obtains data on all commercial banks, primarily over the period 1984-2009, thus including births and deaths. The key findings show, first, that profit persistence is relatively low compared to previous US banking studies and compared to manufacturing firms. Moreover, persistence varies with regulatory changes, although not always in the expected direction, notably the increase in persistence following the 1999 Gramm-Leach-Bliley Act. Second, additional time-variation in persistence is linked to bank specific, market structure and economic factors. Notably, persistence varies with bank size and market share, market concentration and output growth, but the precise nature of these relationships varies across the sample and by bank size. Third, that there is a difference in the nature of the relationship between competition and loan risk on the one hand and competition and total risk and leverage on the other. We also find that the relationship between risk and market structure varies according to bank size and that the economic cycle influences banks' risk. The implications and contribution of this thesis lie in establishing empirical evidence for understanding the nature of the relationships between competition, profits and risk. This is particularly prescient given the move towards new regulation following the financial crisis. Key results here show that no simple relationship exists between bank size or market concentration and competition and risk, therefore policy should account for such differences, whether according to bank size or type of risk.

Thèse numérisée par la Direction des bibliothèques de l'Université de Montréal.

Disengaged employees typically cost U.S. corporations $350 billion annually. The purpose of this case study was to explore strategies that some communication business leaders used to engage their employees that resulted in increased profits. The target population consisted of 4 communication business leaders located in Jackson, Mississippi who possessed at least 1 year of successful employee engagement experience. The self-determination theory served as the study's conceptual framework. Semistructured interviews were conducted and the participating company's archived documents were gathered. Patterns were identified through a rigorous process of data familiarization, data coding, and theme development and revision. Interpretations from the data were subjected to member-checking to ensure trustworthiness of the findings. Based on the methodological triangulation of the data collected, prominent themes emerged from thematically analyzing the data: rewards and recognition, empowering employees, and building a bond between leaders and employees. The implications for positive social change include the potential to improve employee engagement. Enhanced employee engagement could create social innovation and foster goodwill among employees, customers, and community members.

A large cost at the construction sites today is the labour cost of the workers. But unfortunately the worker potential is not used to full. It is not unusual to take into a count with a work-­‐place-­‐additional-­‐time of 50% in some cases. By increasing the workers' motivation and responsibility for their tasks may reduce the time considerably, which also increases the potential for greater gains in construction projects. By using the situational leadership may the workers level of maturity develop entirely. They become broadly self-­‐propelled with high efficiency and the construction leader can after that get more time for his/hers own tasks. The work gets done more efficiently and the potential for greater profits increase. Good leadership at the construction site also improves the working environment for all. More people may be motivated to go to work and such sickness absence may decline.

In this study, our aim is to determine the locations of bottle banks used in collecting recycled glass. The collection of recycled glass is done by a fleet of vehicles that visit some predetermined collection points, like restaurants and hospitals. The location of bottle banks depends on the closeness of the banks to the population zones where the recycled class is generated, and to the closeness of the banks to the predetermined collection points. A mathematical model, which combines the maximal covering problem in the presence of partial coverage and vehicle routing problem with profits, is presented. Heuristic procedures are proposed for the solution of the problem. Computational results based on generated test problems are provided. We also discuss a case study, where bottle banks are located in Yenimahalle, a district of Ankara

Šiame magistro darbe nagrinėti pažeidėjo gautos naudos išreikalavimo, kaip civilinio teisių gynimo būdo, ypatumai. Pirmoje darbo dalyje pateikiamas nagrinėjamos temos koncepcinis įvertinimas ir kiti bendrieji klausimai. Išaiškinta, kad pažeidėjo gauta nauda gali būti išreikalauta pagal žalos atlyginimo taisykles. Būtent, vadovaujantis CK 6.249 straipsnio 2 dalimi, pažeidėjo gauta nauda pripažįstama nukentėjusiojo nuostoliais tiek, kiek nukentejusiojo netiesioginiai nuostoliai atitinka pažeidėjo gautą naudą. Likusi dalis išreikalaujama remiantis turto gavimo be pagrindo ir nepagrįsto praturtėjimo normomis. Antrojoje dalyje išanalizuotos bendrosios pažeidėjo gautos naudos išreikalavimo, kaip civilinio teisių gynimo būdo, taikymo pagrindai ir sąlygos. Prieita prie išvados, kad kaltė negali būti būtina sąlyga taikant nepagrįsto praturtėjimo normas. Pateikta analizė, kad subsidiarus nepagrįsto praturtėjimo taikymas turi būti suprantamas taip: pirmiausia turi būti remiamasi civilinės atsakomybės normomis, jei jų taikymas negalimas arba nepasiekiamas norimas rezultatas, papildomai taikomos nepagrįsto praturtėjimo normos jam pasiekti. Trečioji dalis skirta veiksnių, turinčių įtakos pažeidėjo gautos naudos dydžiui, analizei. Nurodoma, kad gauta nauda turi būti suprantama ne tik kaip turto padidėjimas, bet ir nesumažėjimas. Motyvuojama, kad priklausomai nuo neteisėtų veiksmų pobūdžio, gautos naudos išraiškos forma gali būti tiek kaina, tiek vertė. Tam, kad nebūtų pernelyg išplečiamos... [toliau žr. visą tekstą] / The subject matter of the article is to reveal the issues of an account of profits remedy. The substance of aforementioned remedy is considered in the first part of this article. It is asserted that profit made by wrongful conduct must be claimed in accordance to the essential function of civil liability – compensation. Article 6.249 part 2 of Lithuanian Civil code operates to strip a defendant that amount of profit which coincides with the plaintiff‘s indirect damages. The rest profit made by wrongful conduct is reversed by action in unjustified enrichment. The circumstances in which annotated remedy is available is rationalised and explained in the second part of the article. One of the drawn conclusions is that fault can not be a prerequisite for action based on unjustified enrichment. It is submitted that subsidiarity denotes the subordination of action in unjustified enrichment where another claim in fact offers a claimant a basis of recovery. However, the action in unjustified enrichment must not be excluded when the claimant is barred to recover his loss by the primary action. Third part of this article introduces the essential yardsticks which determine the measurement of profit accrued to the defendant. It is preferred that the profit accrued to the defendant should be measured by actual profit made and, then appropriate, by expense saved. It is proved that the benefit conferred on the defendant is measured either by market value or price received. The measurement... [to full text]

Universiẗat, Diss., 2006--Mannheim.

The BEPS Project has led to unprecedented changes in international taxation rules. In this respect, the recent changes made to the definition of permanent establishment (PE) under BEPS Action 7 target aggressive tax structures used by multinationals enterprises (MNEs). Due to the narrow scope of Article 5(5) and 5(6), taxpayers easily managed to escape the existing definition of PE with the use of tax avoidance strategies, such as commissionaire arrangements. Therefore, some revisions of Action 7 particularly concern the PE threshold provided by Article 5(5) with respect to commissionaire arrangements. The revisions have also arisen questions as to whether the profit attribution rules in connection with the newly proposed PEs will be affected by the BEPS suggestions. In this regard, the Report on BEPS Action 7 had noted the importance of additional guidance for the attribution of profits to the post-BEPS PEs resulting from the changes. Finally, the Additional Guidance on the Attribution of Profits to Permanent Establishments which deals with the attribution of profits to the newly proposed PEs under Action 7 has been released on 22 March 2018. The revised concept of PE ultimately has implications for the application of the Authorized OECD Approach (AOA) for the attribution of profits to PEs. This thesis will analyze the functional and factual analysis performed within the first step of the AOA for the attribution of profits to PEs which arise from commissionaire arrangements under Action 7. The analysis will be based on the general principles of the AOA and the high-level principles provided by the Additional Guidance, with the specific reference to the BEPS work on risk assumption under Actions 8-10. The thesis will also touch upon the PE threshold proposed by Action 7 that concerns commissionaire arrangements.