This paper utilizes a short-term event study to analyze the stock price reaction of domestic and foreign M&A target firms to the 2014, 2015, and 2016 Treasury regulatory announcements aimed at restricting corporate tax inversions. The results suggest that domestic M&A target firms experience insignificant abnormal returns as a result of the Treasury overlooking tax-favored acquisitions by foreign acquirers of domestic target firms with significant locked out earnings. Meanwhile, foreign M&A target firms experience insignificant abnormal returns associated with the ineffective 2014 and 2015 Treasury regulations and experience significant abnormal returns associated with the highly effective 2016 Treasury regulations. This paper contributes to the existing debate on corporate inversions by highlighting the common techniques used to escape the United States’ tax jurisdiction, as well as shedding light on a hidden inversion alternative that has been largely overlooked by the Treasury’s regulatory actions.

Titel: Faktorer som kan påverka företags val mellan K2 och K3 Författare: Angelica Höglund och Julia Wiman Handledare: Klas Sundberg Bakgrund och problem: Det nya K-regelverket som infördes 1 januari 2014 innebär att mindre onoterade företag idag har valmöjligheten att välja mellan regelverken K2 och K3. För dessa mindre företag är valet av regelverk viktigt då det kommer att påverka företagets räkenskaper. Syfte: Syftet med studien är att studera fördelningen av K2 och K3 för mindre onoterade företag inom två olika branscher, dessa är byggbranschen och juridik,- ekonomi- och konsultbranschen, samt vilka faktorer som kan påverka valet av regelverk. Teori: Studien bygger på två teorier, dessa är positive accounting theory och institutionell teori. Metod: I studien används en kvantitativ forskningsmetod där årsredovisningar har granskats och sammanställts, samt en kvalitativ metod som bygger på fyra semistrukturerade intervjuer där de identifierade faktorerna analyserats utifrån en analysmodell. Resultat och slutsats: Utifrån det empiriska materialet identifierades sju faktorer, dessa var leasing, företagets storlek, rättvisande bild, revisorns påverkan, komponentavskrivning, kostnad/nytta och koncernredovisning. Ovanstående faktorer har kategoriserats och analyserats utifrån PAT och institutionell teori. Förslag till vidare forskning: Ett förslag vore att forska vidare på de identifierade faktorerna för att undersöka i hur stor utsträckning de påverkar företagens beslut. En intressant studie hade även varit att genomföra en fallstudie som utgår från att upprätta en årsredovisning utifrån både K2 och K3 för att studera de skillnader som kan uppkomma. / Title: Factors that may affect the company's choice between K2 and K3 Author: Angelica Höglund and Julia Wiman Advisor: Klas Sundberg Background and problem: The new K- regulations were introduced 1th of January 2014 and means that small unlisted companies today have the option to choose between the regulations K2 and K3. For these smaller companies is the choice of the regulatory framework important because it will affect the company's accounts. Purpose: The purpose of the study is to study the distribution of K2 and K3 for small unlisted companies in two different industries, these are the construction industry and law - financial and consulting industry, and the factors that may influence the choice of rules. Theory: The study is based on two theories, these are positive accounting theory and institutional theory. Method: The study used a quantitative research method in which the financial statements have been reviewed and compiled, as well as a qualitative methodology based on four semistructured interviews in which the identified factors analyzed from an analytical model. Results and conclusion: Based on the empirical material seven factors were identified, these were leasing, company size, true and fair view, the auditors influence, component depreciation, cost/benefit and accounting for corporate groups. The above factors have been categorized and analyzed based on the PAT and institutional theory. Suggestions for further research: One suggestion would be to further research on the identified factors to consider to what extent they influence corporate decisions. An interesting study had also been carrying out a case study based on the preparation of annual accounts on the basis of both K2 and K3 to study the differences that may arise

Thesis (MEng)--Stellenbosch University, 2014. / One of the causes for money to be wasted on construction sites is accidents. The reason is that an accident on site is an unplanned event typically relating to the loss of production or the loss of life. Many industry stakeholders and role players have focused on construction health and safety and to improve this area of concern; however, construction health and safety are not significantly improving. Construction still continues to contribute a large number of fatalities and injuries relative to other industry sectors. During the construction phase, poor construction health and safety performance is attributable to a lack of management commitment, inadequate supervision, and a lack of health and safety training and - systems. Health and safety systems do not only include excellent health and safety management on site, but rather an integrated approach on health and safety issues from the conceptual design phase by all stakeholders participating. This integrated approach includes the design done by the engineer. The inspiration behind this research is the question of whether South African Engineers design buildings safe for construction. The lack of knowledge by engineers with regard to construction processes, the lack of health and safety enforcement in the engineering offices and construction sites, and whether engineers adhere to safe design principles is the subject of investigation in this research. Therefore, this research aims to investigate the role of the design engineer in the safety of building projects. Specifically, it investigates to what extent the design engineer can contribute to site safety, and to what extent this is actually taking place. The Construction Regulations states the engineer can be appointed to act on behalf of a client and should share any information that might affect the health and safety of construction employees with the contractor. By means of a literature study, the investigation of case studies and the investigation of questionnaires to which a percentage of South African engineers responded, this research identified the information that should be shared by the design engineer with the contractor. The information can be shared by indicating hazardous activities or - locations on the actual drawings. Information can also be shared by specifying and reminding the contractor of certain health and safety hazards in the health and safety specifications of the building project. Although the Construction Regulations state that the safety hazards associated with most construction processes are the responsibility of the contractor, it will be beneficial for the safety of the employees if the engineer also consults the contractor on the hazards identified by him or her during the early design stages. Early collaboration between the engineer and contractor is also beneficial for the safety of construction employees. The result is an integrated approach towards safety hazard identification and mitigation. Having adequate knowledge with regard to construction processes allows the engineer to be aware of possible safety hazards. This will result in the correct information to be shared with the contractor and incorporated into the early design phases of the project to ensure a healthy and safe working environment. The study shows that a percentage of South African engineers have a lack of site experience, a lack of safety training, a lack of knowledge with regard to the content of the Construction Regulations, and a lack of knowledge with regard to construction processes. These shortcomings can be detrimental to site safety.

Organisational and individual Health and Safety (H&S) competence is an essential element to the successful completion of a construction project in a safe way and without hazards to the health of all workforce. Under the Construction (Design and Management) (CDM) Regulations 2007, the client should take reasonable steps to ensure that the appointed duty-holders and engaged people are H&S competent to design, build or co-ordinate the project. Although the CDM Regulations 2007 and its Approved Code of Practice (ACoP) have established ‘Core Criteria’ to guide the client to assess duty-holders’ H&S competence in the outset of a project, it is still difficult for most inexperienced clients to discharge the duty of making the key decisions in H&S competence assessment. In order to help the client implement H&S competence assessment, it is important to develop a tool that can effectively and efficiently support the client to make reasonable decisions in the selection of H&S competent duty-holders. According to the findings of the case study of existing formal H&S competence assessment schemes undertaken as part of this work, H&S competence assessment was characterised as a subjective, qualitative and non-linear regulation-compliance checking process. In addition, the case study helped identify the latent shortcomings in the ‘Core Critiera’ and the operational drawbacks in current practice of implementing H&S competence assessment. Based on a review of Information Technology (I.T.) and Artificial Intelligence (A.I.) applications in construction, Knowledge-Based System (KBS) is identified as being a suitable tool to support decision-making in H&S competence assessment, mainly due to its appropriateness to solve regulation-compliance checking problems and support subjective and qualitative decision-making process. Following a decision-making framework for H&S competence assessment, a KBS decision-support model was developed, applying three mechanisms to support the reasonable decision-making for H&S competence assessment. In order to develop an appropriate and practical KBS for H&S competence assessment, a textual knowledge base was developed, specifying the minimum satisfaction standards and a rating indicator system for ‘Core Criteria’. As a result, an online KBS was developed using Java Server Pages (JSP) technology and MySQL. The online KBS applied the textual knowledge base to support the screen, rating, ranking and reporting decision-supporting mechanisms. Simultaneously, the case inquiry and expert inquiry facilities were also included in the KBS for effective decision-making. Finally, construction experts and practitioners in H&S management evaluated the validity and usability of the KBS through a questionnaire survey. The prototype KBS was borne out to be an effective and efficient decision-support tool for H&S competence assessment and have the potential to be applied in practice.

<p> </p><p><strong>Sammanfattning</strong></p><p><strong> </strong></p><p><strong>Problem och bakgrund: </strong>Bokföringsnämnden (BFN) har arbetat fram ett regelverk för de enskilda näringsidkare som bör implementeras från den 1 januari 2007. Syftet anses vara bland annat att underlätta den administrativa bördan. Huvudfrågan som ställs i denna studie är en undran om, till vilken grad har användbarheten av K1 regelverket för de enskilda näringsidkarna förändrat redovisningsarbetet? De andra nyckelfrågorna är, har en effektivisering skett av redovisningsarbetet samt har det lett till väsentliga kostnadsbesparingar vad gäller den administrativa bördan?</p><p><strong>Syfte:</strong> Syftet med denna studie är att undersöka huruvida K1 regelverket har förenklat den administrativa arbetsbördan för enskilda näringsidkare, samt om det skett en effektivisering av arbetet med redovisningen.</p><p><strong>Metod: </strong>Studien tillämpar huvudsakligen den deduktiva forskningsmetoden med hjälp av statistisk datasamling. Detta innebär att studien utgår från en kvantitativ enkätundersökning med ett slumpmässigt urval av respondenter.</p><p><strong>Referensram: </strong>I studiens teoretiska referensram presenteras olika interrelaterade teorier som belyser K1 regelverkets motiv och funktion samt dess betydelse för redovisningen för de enskilda näringsidkarna i ett bredare perspektiv.<strong></strong></p><p><strong>Slutsats: </strong>Studiens syfte var att försöka förklara användbarheten av det nya K1 regelverket i samband med praktiken. Hur K1 regelverket har bidragit till en enklare redovisning och hur den har reducerat de administrativa kostnaderna.</p><p>Studiens resultat visar att det förenklade årsbokslutet används i väldigt liten skala bland deltagande respondenter i undersökningen. Största orsaken till att K1 regelverket inte används i den utsträckning som förväntats är bristen på information och kunskap hos de enskilda näringsidkarna om K1:s strukturella form och funktion. Då få respondenter använder sig av ett förenklat årsbokslut, blev det svårt att på ett adekvat sätt besvara hur väl det lett till att de administrativa kostnaderna har minskats.</p> / <p> </p><p><strong>Abstract</strong></p><p><strong> </strong></p><p><strong>Problem and background:</strong> The Swedish Accounting Standards Board (BFN) has issued a set of standards for small businesses that have been implemented since January the 1^st 2007. The purpose of these standards is to facilitate and simply the administrative burden. This study poses the question "To what extent has the usability of the K1 framework for small businesses changed the accounting workload? Has there been a streamlining of the accounting workload and has it led to significant cost savings in terms of administrative burden."</p><p><strong>Aim of this study:</strong> The aim of this study is to investigate whether the K1 framework has simplified the administrative workload for small businesses, and if it has led to a streamlining of the process of accounting.</p><p><strong>Method:</strong> The study applies mostly to the deductive research method with the aid of statistical data collection. This means that the study is based on a quantitative survey of a random sample of respondents.</p><p> </p><p><strong>Frame of references:</strong> In the study's theoretical frame of reference various inter-related theories are presented, highlighting the motives behind the K1 framework as well as its functions and its importance to the workload in preparing the financial statements for sole trade businesses in a broader perspective.</p><p> </p><p><strong>Conclusion:</strong> The study's main objective was to try to explain the usefulness of the new K1 framework in the context of its use in practice. How the K1 framework contributed to a simpler accounting and how it has reduced the administrative costs.</p><p>The results of the study show that only a small set of the respondents to the survey use the simplified annual accounts from the K1 framework. The principal reason that the K1 framework is not used to the extent expected, is due to the lack of awareness by the small businesses on the K1 framework's structural form and function. It is evident that more could have been done to widen the knowledge and information on the K1 framework. Given that only a small subset of the respondents use the simplified annual accounts from the K1 framework, it is not adequate to conclude on how well the framework has been used to lessen the administrative costs and burdens.</p>

Magistrantūros studijų baigiamasis darbas, 59 puslapiai, 11 paveikslų, 8 lentelės, 55 literatūros šaltiniai, 8 priedai, lietuvių kalba. RAKTINIAI ŽODŽIAI: tarptautiniai apskaitos standartai, apskaita, problema, reglamentacija, tikroji vertė, apskaitos politika. Tyrimo objektas – tarptautiniai apskaitos standartai. Tyrimo tikslas – išanalizuoti tarptautinių apskaitos standartų taikymo problemas užsienio šalyse ir Lietuvoje bei pateikti pasiūlymus šioms problemoms spręsti. Tyrimo uždaviniai: 1. apibūdinti tarptautinius apskaitos standartus; 2. išnagrinėti tarptautinių apskaitos standartų taikymo privalumus bei patiriamas problemas juos taikant užsienio valstybėse; 3. išnagrinėti tarptautinių apskaitos standartų taikymo privalumus bei patiriamas problemas Lietuvos įmonių apskaitoje; 4. pateikti tarptautinių apskaitos standartų taikymo problemų sprendimo būdus. Tyrimo metodai. Sisteminė mokslinės literatūros šaltinių analizė, sintezė, empirinis anketinis tyrimas, apibendrinimas. Pirmojoje darbo dalyje nagrinėta užsienio šalių mokslinė literatūra ir apibendrintos tarptautinių apskaitos standartų taikyme pasitaikančios problemos. Antrojoje darbo dalyje atliktas empirinis anketinis tyrimas, kuriuo nagrinėta, ar nagrinėjant užsienio literatūrą rastos tarptautinių apskaitos standartų taikymo problemos egzistuoja ir Lietuvos įmonių praktikoje. Trečiojoje darbo dalyje pateikti pasiūlymai, kaip spręsti tarptautinių apskaitos standartų taikymo problemas. / The Master‘s degree work consist of 59 pages. There are 11 pictures and 8 tables. There were used 55 literature sources, 8 additions. It is written in the Lithuanian languages. KEY WORDS: International accounting standards, accounting, question, regulations, fair value, accounting policy. The object of the research – international accounting standards. The aim of the research – the analysis of international accounting standards issues in foreign countries and Lithuania, to submit proposals for these issues resolve. The objectives of this research are: 1. describe the International accounting standards; 2. explore the merits and demerits of International accounting standards in foreign countries; 3. explore the merits and demerits of International accounting standards in Lithuania company’s records; 4. submit interpretation of the International accounting standards problems. The research methodic incorporates such methods. Systematic scientific literature analysis, synthesis, empirical investigation analysis, conclusion. In the first part examined the scientific literature in foreign countries and summarized in the international accounting standards for existent problems. In the second part of the work carried out empirical investigation analysis, which examined or the problems of international accounting standards existent in foreign literature, there is a problem and Lithuanian business practice. In the third part, submit a proposal interpretation of the International... [to full text]

L’examen des dispositions de la loi libanaise n.75 du 3 avril 1999 sur la propriété littéraire et artistique relatives aux oeuvres audiovisuelles nous permet de déterminer le cadre juridique relatif à ce type de création. Pour accéder à la protection par le droit d’auteur, l’oeuvre audiovisuelle doit bénéficier d’un certain degré d’originalité mais aussi elle doit répondre à la définition légale de l’oeuvre audiovisuelle consacrée à l’article 1 de la loi libanaise. Une fois les conditions d’accès à la protection déterminées, on peut étudier le régime juridique applicable à ce type de création. Les oeuvres audiovisuelles sont qualifiées par l’article 9 de la loi libanaise d’oeuvres collectives. Cette qualification nous permet de déterminer le régime juridique applicable. Ceci implique la détermination des différents "acteurs" de l’oeuvre audiovisuelle, leurs droits et les modes d’exploitation de ces droits. / The examination of the provisions of Lebanese law number 75 dated on April 3, 1999 concerning the literary and artistic property for audiovisual works allow us defining the legal framework for this type of creation. Therefore, to reach the copyright protection, any audiovisual work shall benefit from a certain degree of originality and shall also meet the legal definition of an audiovisual work stipulated in article one of the Lebanese law. Once the necessary conditions for an audiovisual work protection are defined, we can proceed with the study of legal regulations applicable to this kind of creation. Audiovisual works are qualified by article 9 of the Lebanese law on collective works. Based on the audiovisual work qualification, we can define the applicable legal regulations. This involves identifying the different “actors” of audiovisual work, their rights and ways of exploiting these rights.

Syfte: Syftet med arbetet är att bidra till att fastighetsägare fortsatt ska kunna förvalta, driva och bruka gamla kulturhistoriskt viktiga hus även i framtiden. Metod: De metoder som valts för att uppnå målet är dokumentanalys, litteraturstudier och fallstudie. Resultat: Kulturhistoriskt viktiga byggnader behöver energieffektiviseras för att de ska kunna hållas i bruk och existera. Det går att genomföra energieffektiviserande åtgärder utan att skada byggnadens kulturvärde. Åtgärder som fönsterbyte, tilläggsisolering och byte av ventilationssystem bör väljas beroende på husets karaktär. Tilläggsisolering och fönsterbyte är effektiva åtgärder för att minska energiförbrukningen av gamla kulturhistoriskt viktiga byggnader, men riskerar ofta att förvanska byggnadens karaktär. Ventilationssystemsbyte kan innebära mindre ändringar av byggnaden men är en relativt dyr investering. Konsekvenser: Ändringar i en befintlig byggnad kommer dock alltid att påverka dess konstruktion, men det betyder inte att byggnadens kulturhistoriska värde förvanskas. Begränsningar: Beräkningar kommer endast att utföras för ett referensobjekt, stadsbibliotek i Tidaholm. Det beräknade resultatet kommer vara specifikt för denna byggnad, eftersom resultatet varierar med byggnaders olika egenskaper. Däremot kan lösningarna tillämpas på flera objekt. Det finns flera olika energieffektiviserande åtgärder men i denna rapport utreds tilläggsisolering, fönsterbyte och ventilationsbyte. Nyckelord: Energieffektivisering, kulturhistoriskt viktiga byggnader, värmeväxlare, Boverkets byggregler, ventilation. / Purpose: The purpose of the work is to help municipalities continue to manage, operate and use old historic houses in the future. Method: The methods chosen to achieve the objective is document analysis, literature studies and case study. Findings: Culture heritage buildings needs to get more energy efficient, so they can be kept in use and existence. It is possible to implement energy efficiency measures without damaging the building's cultural value. Measures like window replacement, insulation and replacement of ventilation systems should be selected depending on the character of the house. Insulation and window replacement are effective measures to reduce the energy consumption of old historically important buildings, but often risk distorting the character of the building. Ventilation system replacement can involve minor changes to the building but is a relatively expensive investment. Implications: Changes in an existing building will always affect its construction, but it does not mean that the building's heritage value is distorted. Limitations: Calculations will only be performed for a reference object, library in Tidaholm. The calculated result will be specific for this building, since the outcome varies with buildings and their different characteristics. However, the solutions can be applied to multiple objects. There are several energy efficiency measures, but this report will only involve insulation, window replacement and ventilation changes. Keywords: Energy efficiency, historically important buildings, heat exchanger, building regulations, ventilation.

Dans ma mémoire, j’ai discuté les concepts d’arbitrage comme méthode de résolution d’un litige et par après, je donne un court historique de l’acceptation d’arbitrage au Québec. Le Chapitre I étudie la structure des règlements du R.B.Q., qui est un gendre d’arbitrage obligatoire institutionnelle, et j’inclus les diverses procédures dans ce système d’arbitrage. La sécurité offert par le plan de garantie règle par le R.B.Q. est discuté dans le Chapitre II en autant qu’il est relié avec le system d’arbitrage R.B.Q., y compris la structure du plan et le contenu de la sécurité. Chapitre III parle des recours disponible aux Bénéficiares ainsi que les avantages et désavantages de l’arbitrage sous les Règlements du R.B.Q. Un court étude comparative de quatre autres juridictions est recherché en Chapitre IV, incluant notre voisin, Ontario, les Etats-Unis et on croise dans les juridictions de Royaume Unie et Allemagne. En conclusion, j’établis que notre système d’arbitrage sous le Règlement protéges notre publique plus que d’autres juridictions. Je suggère des améliorations au système, par contre, incluant l’agrandissement du plan de garantie, l’ajout des pouvoirs donnés aux arbitres américains et ensuite d’intègré un système d’arrêt semblable aux Royaumes Unis. / In my memoire, I discuss the concept of arbitration generally as a dispute resolution method after which I outline a history of its acceptance under Quebec law. Chapter I addresses the structure under the R.B.Q. Regulations, which is a mandatory institutional arbitration system is discussed, and includes the various procedures of the arbitration system. The security offered under the Guarantee Plan which is regulated by the R.B.Q. is discussed in Chapter II insofar as it affects its arbitration system, including the structure of the guarantee plan and the contents of the guarantee. Chapter III reviews a Beneficiary’s available recourses as well as the advantages and limitations of the arbitration system under the Regulations. Then a brief comparative study with four other jurisdictions is directed in Chapter IV, including our neighbouring Ontario, United States, and then overseas to the United Kingdom and Germany. In conclusion, I prove that the arbitration system protects Quebec Beneficiaries more than any where else that I have studied and recommend improvements to the system, including the expansion of the guarantee plan, the addition of powers to the arbitration similar to those granted in the United States jurisdictions and the integration of an adjudication system similar to that used in the United Kingdom for construction dispute resolution.

This study attempts to show that judicial review of administrative decisions has provided the greatest degree of protection for consumers during the time that natural gas has been subject to regulation by the Federal Power Commission. The first part of the investigation deals with the activities of the regulatory agency since controls were established in 1938. It continues with a discussion of the influence of consumer and producer interests on the legislative process. The contributions of the courts to policy-making is discussed in the following section. The report concludes that more protection from the political environment could be realized by placing the major responsibility for the regulatory program in the hands of the Executive branch.