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This dissertation evaluates the empirical relation between the value-added tax (VAT) and the level of aggregate consumption. Furthermore, it develops a theoretical framework and an empirical analysis to study the impact of the VAT, as a form of taxing consumption, on capital accumulation, productivity growth, and overall economic growth. While recent theoretical work shows that the VAT may boost capital accumulation and growth by encouraging more savings, we find that the net impact of consumption taxes on growth and its sources is theoretically ambiguous, and depends on the interaction between utility parameters, the interest rate, and the tax structure. Moreover, we develop a theoretical model to study the tax design problem in order to rationalize the observed variation in effective VAT rates over time in our sample. This framework considers both equity and efficiency as important factors determining optimal tax structure, and we identify conditions under which taxes could be evolving or constant over time. Empirically, we use a panel of 15 European Union countries and employ the recently developed GMM dynamic panel techniques. After controlling for the potential biases associated with persistence, endogeneity, simultaneity, measurement error, omitted variables, and unobserved country-specific effects, we find that (i) the VAT exerts a negative impact on the level of aggregate consumption, (ii) the VAT affects physical capital accumulation positively, which feeds through to overall GDP growth, and (iii) productivity growth seems to be a less relevant channel for the VAT to influence economic growth.

Bakgrund: Bonussystem är något som började växa fram på 1980-talet och har sedan dess varit ett omdiskuterat ämne, både här hemma i Sverige och internationellt. Många forskare, politiker och invånare har uppmärksammat de höga ersättningarna som delas ut inom företagen i både bra och dåliga dagar. Det som drog mest uppmärksamhet var att företag trots en finanskris fortsatta med sina utdelningar och t.o.m. ökade sina rörliga ersättningar. Detta fick människor att undra vad företagen egentligen baserar sina ersättningar på. Å andra sidan försvarar företag sig med att dessa ersättningar ger motivation och ökad effektivitet hos de anställda som i sin tur presterar bättre, vilket utvecklar och driver företagen framåt.   Problemformulering: Väljer företagen att basera sina ersättningar på prestationsbaserade eller/och storleksbaserade variabler? Syfte: Syftet med denna studie är att kartlägga vilken av de teoretiska traditionerna som bonussystem baseras på genom att undersöka hur sambandet ser ut mellan utvalda bonusmått och verkställande direktörers och ledande befattningshavarnas totala ersättning under en femårsperiod. Metod: Uppsatsen bygger på en kvantitativ metod där datainsamlingen har skett genom sekundärdata i form av företagens årsredovisningar. Vi har även valt att anta den deduktiva ansatsen som innebär att våra valda teorier ska appliceras på det reslutat som undersökningen visar. Reslutat: Utifrån de tester som gjordes i SPSS programmet visade resultatet att det framgick ett signifikant samband mellan total ersättning och företagets prestation samt företagets storlek. Slutsats: Studien visar att både prestationsbaserade och storleksbaserade variabler visar samband med den totala ersättningen, en övergripande variabel som utformar bolagens ersättningssystem kunde inte konstateras i vår undersökning. Utformningen av ersättningssystem påverkas av inre och yttre faktorer, bl.a. som landets välfärdssystem, företagskultur, konjunkturförändringar.

Globalization, economic volatility and uncertainty have impacted global business markets. This has also had an effect on the logistics and supply chain sector. The third party logistics (3PL) industry is constantly changing due to global industry consolidation, technology integration, industry specialization, and industry alliance networks. The most significant changes have been in areas such as 3PL industry size and make-up, services offered, geographical reach, and the information technology (IT) support provided. Companies can survive in a highly competitive environment by creating competitive advantage. Literature presents three different strategies for creating competitive advantage. These are cost leadership, differentiation and focus. Furthermore, innovations and collaboration between companies can also be strategies for creating competitive advantage. The purpose of this paper is to analyse from the retailers’ perspective, how 3PL providers could meet the customers’ needs better and create competitive advantage in the 3PL market. Furthermore, the purpose of the research is to find out which are, according to the customers’ needs, the best directions that 3PL providers should follow. This research contains both inductive and deductive research approach elements. The empirical data is collected through a survey and interviews. In total 45 retailers took part in the survey. Moreover, five of the survey respondents were selected for additional interviews. The collected data have been analysed by using theories and previous studies in the literature. The main findings from analysing the empirical data and the existing theory are that in order for 3PL providers to create competitive advantage, they should focus on the three elements: selection criteria, incentives and barriers. These influence their relationship with the retailers. 3PL providers should also try to enhance the service quality and satisfaction level in the fields of transportation, warehousing and reverse logistics activities. Most importantly, 3PL providers should provide logistics services and solutions that are in the same level with the retailers’ objectives. Furthermore, 3PL providers can also improve their efficiency and become more competitive by having deeper co-operation with other logistics providers.

Researth on the Value Creation Strategy -The Case Of Ritek Group By Li-Mei Chen Seeking sustainable growth has always been the core value of an enterprise.However, to achieve such goal, many questions followed¡Kwhat rules to obey upon seeking sustainable growth? High growth leads to high profit for sure? Larger company scale accompanies higher profit? Such growth strategy should be managed according more to external environment or more on own core competence? How to create company value resulting from the diversification and collectivization of the company growth? I adopt Ritek group (ëä¼w¶°¹Î) as my case study object. Purpose of my study is to find out the affection of their growth strategy to their company value, and, how this efficient growth strategy enhances sustainable competitive advantage. My study integrated the relation between company value and Resource-Based view, Enterprise Growth Strategy view and Economic Value Added (EVA) view. Results of my empirical study: 1. Resources construction is a key in the development of company. 2. Strategy to focus on core competencies and to be effective. 3. Company valued scale expansion strategy increased their company value. 4. Fast capital outlay expansion helps no company value promotion. 5. Long-term investment amount decides future value. 6. Highly fund financing could not create company value. 7. Company¡¦s profit ability affects its future growth opportunity.

This article aims to explore the influence of Mainland China's inter-governmental relations to the logistics in the Yangtze River Delta region. In short, research results can be summed up and related to Yangtze River Delta regions relationship between inter-structural governmental factors, to allow readers to understand the status of the logistics industry and policy development in the Yangtze River Delta and it¡¦s obstacles. Through governmental inter-system structure, relating to the Yangtze River Delta region's logistics industry environment review, analysis between local government in Yangtze River Delta, and the existence of competitive behavior, different difficulties, as well as logistics management system of the Government; on the other hand, Central Government policies on logistics development in Yangtze River Delta region and the role it plays, furthermore what means of intervention is necessary. Finally we can conclude that, Under the influence of inter-institutional structure, logistics reforms in the management of the local government and functions of the Central Government policies have been meet with difficulty; on the other hand, tax reform in logistics by means of Central Government macro-control, yet still compressed direct access to tax revenue of the local governments financial capacity, resulting in local governments to rely more on other non-tax revenues, indirect effects of layouts and the operation of the logistics industry chain. Due to these structural factors that affect local government in Yangtze River Delta areas causes a dilemma in choosing to compete or cooperate; reflecting to the effectiveness of the reform policies of the Central Government.

Destination Math was a program utilized by Xcellence ISD. A determination if usage of the software had a significant positive effect on math performance was needed. In this study, the researcher created a student database that included the usage data from the comprehensive mathematics software program, Destination Math, and the math residual value, an added value statistic that was derived from the math scores of the 2006 Texas Assessment of Knowledge and Skills (TAKS) test. An analysis was performed to determine if time spent using the Destination Math software resulted in differences between student usage level groups in regard to the math residual value (MRV). The researcher also looked at the usage levels of teachers and campuses to determine if there were differences in the MRV for different classifications of usage. Certain student classifications were added as independent variables. Since Destination Math was offered in Spanish, it was theorized that the program might be beneficial to students who were designated as Limited English Proficient (LEP). Therefore, this student classification was included as an independent variable. Because research existed that provided evidence that some software contained a gender bias, the student classification of gender was also included as an independent variable. The population for this study included every student in Xcellence ISD in grades 3-11 who took the math portion of the TAKS test during the week of April 18-21, 2006. Altogether, 3177 students were included in the data analysis for this study. This represented 53% of the tested population. Students with no usage data reported by Destination Math were eliminated from the study. While there are a number of cited studies that document score gains with Destination Math, this researcher did not find that residual math scores were significantly different among teacher or campus usage groups. While there was a significant difference between the student usage groups, High users exhibited negative MRVs. The results of this study are consistent with another large quantitative study that involved Destination Math. This researcher feels that there are an ample number of studies that provide evidence that Destination Math can have a positive effect on student math performance. However, the program should not be purchased with the intent to improve significantly the residual math scores.

Abstract There are many factors, such as long-term depression and industrial moving, to induce Taiwanese corporations into financial distress since the Asian Financial Crisis erupted in 1997. In research of financial distress, it¡¦s difficult to distinguish the exact factors that whether financial aspect or other aspect cause financial distress. Management normally will take improvement actions in operation or financial respects when it perceives certain aspects getting worse. In practice, organization reforming and changing top management team may be the most popular and effective solutions. But, the effects for adopting such actions are uncertain. Therefore, those financial-distress corporations after taking successful improvements in change management are worth the research of its improvement procedures and methodologies. Many researchers evaluate corporation performance using certain financial ratio such as earnings per share (EPS), return on equity (ROE), and return on investment (ROI). According to the earning calculation as required in Generally Accepted Accounting Principle (GAAP), some expenditures which will make corporation benefit from a long-term respect are expensed currently. This result may understate current period and overstate future period earning and assets. Management may reduce this kind of expenditures when EPS is the only indicator for performance evaluation. Economic Value Added (EVA), one valuation method based upon residual income, will improve above-mentioned shortcomings of traditional performance evaluation. The major concept of EVA is that adjustment of accounting accounts is necessary to get real value of corporation and corporation needs to earn profit exceeding return of costs of capital to create value of shareholder. The case in my research, Y company, expanded its investment in Compact Integrated Steel Mill project which was announced in 1992. However, after Asian Financial Crisis in 1997, Y company¡¦s operation was getting worse and was unable to repay its bank loans. Y company then became a financial-distress corporation. The top management was changed after the majority shareholdings of Y company were transferred to C company. Since ownership change, Y company made organization reforming with ¡§Theory E¡¨ first and ¡§Theory O¡¨ second. We adopt EVA as the vehicle to assess the performance of new management¡¦s improvement. In our research, EVA of Y company was turnaround after C company¡¦s acquisition of Y company¡¦s shareholdings and its top management was totally changed. Keywords: Financial distress, Change management, Theory E, Theory O, Economic Value Added, EVA, Residual income.

Abstract There have been lots of M&A, alliance and restructuring activities occurred in the chemical industry all over the world since 2001. In order to operate the business successfully, the best way is through innovation instead of taking restructuring, cost down and/or M&A strategy only. Usually, chemical material should be well mixed or prepared to get unique properties for application. R&D and innovation are the good solutions. Under such circumstances, in order to win the game and even to survive, the chemical firms need to make changes of their products to be more value-added and keep their sustaining competitive advantages . This study has surveyed the questionnaires which were answered from the high value-added chemical firms, government, educational and research institutes. Analytic Hierarchy Process (AHP) was adopted for analysis. Our findings are: 1. The ratings of the importance in the second level of AHP are: ¡]1¡^The members participating in the innovation ¡]2¡^Organization system ¡]3¡^Protection of innovation ¡]4¡^Environment of the firm 2. The top five important factors in the third level of AHP are: ¡]1¡^Opinions from the industry---communication ability of the R&D director, firm secrecy protection mechanism, CTO can make the consequences of decisions for R&D innovation activities to take, relationship between firms and customers, participation of the R&D director in corporate strategy formulation ¡]2¡^Opinions from the government, educational and research institutes--- organizational culture of supporting venture and tolerating mistakes in the innovation process, CTO can make the consequences of decisions for R&D innovation activities to take, communication ability of the R&D director, firm secrecy protection mechanism, participation of the R&D director in corporate strategy formulation ¡]3¡^Opinions from the industry, government, educational and research institutes--- communication ability of the R&D director, firm secrecy protection mechanism, CTO can make the consequences of decisions for R&D innovation activities to take, participation of the R&D director in corporate strategy formulation ,organizational culture of supporting venture and tolerating mistakes

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