À medida que a economia global se expande e os mercados se tornam mais abertos para os investimentos, as empresas dividem atividades entre as suas unidades estabelecidas em diferentes países. A determinação dos preços praticados em operações de transferência entre companhias associadas situadas em diferentes jurisdições fiscais é chamada de Preços de Transferência. Para fins tributários, os preços de transferência determinam o valor de receita que cada empresa recebe e o referente valor de tributos incidentes sobre receitas e/ou resultados no país exportador e no país importador, sendo um assunto relevante para as administrações tributárias dos países onde essas operações ocorrem e para as empresas com unidades em mais de um pais. O presente estudo apresenta uma análise relacionada aos Preços de Transferência praticados por uma empresa brasileira que importa matéria-prima de suas empresas vinculadas estabelecidas em outras jurisdições tributárias. É apresentado um estudo de caso descritivo que ilustra essa situação e as regras de Preço de Transferência brasileiras. Ao final, conclui-se que o contribuinte deve aplicar mais de uma metodologia de cálculo dentre as disponibilizadas pela legislação brasileira, a fim de identificar a que resulte em menor ajuste tributário. Conclui-se, adicionalmente, que a temática dos preços de transferência depende de muitas variáveis individuais, as quais devem ser estudadas e analisadas caso a caso, de acordo com as particularidades envolvidas em cada situação. / As the global economy continues to expand and markets become more open to investment, enterprises share activities among their units established in different countries. The prices determination for the transfer of goods between affiliated companies situated in different tax jurisdictions is called Transfer Pricing. For tax purposes, transfer pricing determines the amount of income that each party earns and thus, the amount of income tax due in both the export and import countries, representing a relevant issue to the tax administrations in countries where these operations occur and to the companies which have units in more than one country. This study presents an analysis related to Transfer Prices practiced by a Brazilian company that imports raw material from its associated units established in other tax jurisdictions. A case study that shows this situation and the Brazilian Transfer Pricing rules are presented. The conclusion is that the company should apply more than one of the available calculus methodology in order to identify which one results in the lower tax adjustment. In addition to that, it is concluded that the Transfer Pricing is an issue that depends on many variables that should be carefully analyzed for each situation or company, considering the particularities of each situation.

À medida que a economia global se expande e os mercados se tornam mais abertos para os investimentos, as empresas dividem atividades entre as suas unidades estabelecidas em diferentes países. A determinação dos preços praticados em operações de transferência entre companhias associadas situadas em diferentes jurisdições fiscais é chamada de Preços de Transferência. Para fins tributários, os preços de transferência determinam o valor de receita que cada empresa recebe e o referente valor de tributos incidentes sobre receitas e/ou resultados no país exportador e no país importador, sendo um assunto relevante para as administrações tributárias dos países onde essas operações ocorrem e para as empresas com unidades em mais de um pais. O presente estudo apresenta uma análise relacionada aos Preços de Transferência praticados por uma empresa brasileira que importa matéria-prima de suas empresas vinculadas estabelecidas em outras jurisdições tributárias. É apresentado um estudo de caso descritivo que ilustra essa situação e as regras de Preço de Transferência brasileiras. Ao final, conclui-se que o contribuinte deve aplicar mais de uma metodologia de cálculo dentre as disponibilizadas pela legislação brasileira, a fim de identificar a que resulte em menor ajuste tributário. Conclui-se, adicionalmente, que a temática dos preços de transferência depende de muitas variáveis individuais, as quais devem ser estudadas e analisadas caso a caso, de acordo com as particularidades envolvidas em cada situação. / As the global economy continues to expand and markets become more open to investment, enterprises share activities among their units established in different countries. The prices determination for the transfer of goods between affiliated companies situated in different tax jurisdictions is called Transfer Pricing. For tax purposes, transfer pricing determines the amount of income that each party earns and thus, the amount of income tax due in both the export and import countries, representing a relevant issue to the tax administrations in countries where these operations occur and to the companies which have units in more than one country. This study presents an analysis related to Transfer Prices practiced by a Brazilian company that imports raw material from its associated units established in other tax jurisdictions. A case study that shows this situation and the Brazilian Transfer Pricing rules are presented. The conclusion is that the company should apply more than one of the available calculus methodology in order to identify which one results in the lower tax adjustment. In addition to that, it is concluded that the Transfer Pricing is an issue that depends on many variables that should be carefully analyzed for each situation or company, considering the particularities of each situation.

Orientador: Maria Beatriz Machado Bonacelli, Ana Lucia Delgado Assad / Dissertação (mestrado) - Universidade Estadual de Campinas, Instituto de Geociencias / Made available in DSpace on 2018-08-06T05:24:37Z (GMT). No. of bitstreams: 1 Ferro_AnaFlaviaPortilho_M.pdf: 1112928 bytes, checksum: 273c199fcb5f367ead5e1196dabee7e1 (MD5) Previous issue date: 2006 / Resumo: A biodiversidade tem sido apontada como um elemento de importância estratégica devido, entre outros fatores, ao seu potencial como fornecedora de matéria-prima para diversos setores da economia. Diante deste quadro, mas também do de destruição deste patrimônio, têm se inserido muitas das atuais estratégias de empresas, as quais vêm procurando acompanhar e aproveitar o desenvolvimento de novas oportunidades tecnológicas abertas pelos mercados de produtos obtidos de forma ambientalmente responsável. A incorporação de modelos sustentáveis de uso dos recursos é, portanto, vista como um diferencial capaz de gerar vantagens competitivas. No entanto, falta ainda um ambiente institucional adequado para que o acesso a esses recursos se dê de modo a permitir a conservação dos mesmos, assim como a repartição dos benefícios advindos de sua exploração. Dessa forma, a presente dissertação de mestrado apresenta e discute de que forma algumas empresas brasileiras vêm utilizando em suas estratégias competitivas o potencial da biodiversidade como forma de criar e/ou de aproveitar novas oportunidades e explorar novos nichos de mercado, apontando as principais vantagens e limitações encontradas neste tipo de estratégia. Para tanto, analisa o processo de incorporação da variável ambiental pelo setor produtivo via abordagem evolucionista do processo de inovação discutindo, entre outros, os custos de transação aí envolvidos. Traz também a discussão sobre a construção do ambiente institucional, com foco no processo de regulamentação do acesso à biodiversidade no âmbito das diretrizes nacionais frente à Convenção sobre Diversidade Biológica. Por último, analisa o potencial do mercado brasileiro de produtos obtidos de forma sustentável nos segmentos de fitoterápicos, cosméticos, extratos naturais e de manejo florestal por meio de quatro casos de empresas nacionais que vêm adotando em suas estratégias competitivas o uso sustentável da biodiversidade. Parece claro que a incorporação dos preceitos do desenvolvimento sustentável no uso da biodiversidade é uma tendência que vem se fortalecendo, principalmente em setores altamente dependentes de matéria-prima advinda da biodiversidade. Neste contexto, destaca-se a importância da geração de inovações para atender à demanda por novas práticas e tecnologias, assim como da conformação de um ambiente institucional capaz de estimular a incorporação da variável ambiental por todo o setor produtivo / Abstract: Biodiversity has been considered a strategic element due to, among other reasons, its potential as a raw material provider to many industry sectors. Nevertheless, the increasing degradation of the environment threatens this potential, therefore the urgency in the promotion of sustainable development. Motivated by this context, many companies are adopting, as part of their competitive strategies, the sustainable use of biodiversity so as to take advantage of new technological opportunities opened in the environmentally responsible products market. However, the institutional environment for the access to these resources is still under construction. Thus, the purpose of the present Master of Science dissertation is to analyze how some Brazilian companies are using the potential of biodiversity as part of their competitive strategies in order to create favorable market asymmetries. It also acknowledges the advantages and limitations concerning this strategy. Firstly, the incorporation of environmental issues by industry is analyzed. This analysis is based on the evolutionary approach of the innovation process, considering the transactional costs involved. Secondly, there is a discussion about the taken actions and the institutionalization process related to the implementation of the Convention on Biological Diversity in Brazil. Finally, this work presents the potential of the Brazilian environmentally responsible products market, focusing on phytoterapics, cosmetics, natural extracts and forestry. To illustrate this potential, the cases of four national companies are analyzed. This study has pointed out that the incorporation of the principles of sustainable development does not seem to be simply a temporary strategy, but a strong tendency especially to industry sectors highly dependent on biodiversity as raw material. Other issues addressed include the relevance of innovation to the generation of new proceedings and technologies as well as the importance of the conformation of a solid institutional environment / Mestrado / Politica Cientifica e Tecnologica / Mestre em Política Científica e Tecnológica

Submitted by Cláudia Bueno (claudiamoura18@gmail.com) on 2016-01-14T12:57:11Z No. of bitstreams: 2 Dissertação - Marco Antonio Simonassi Damasceno - 2014.pdf: 2029752 bytes, checksum: 64ade632d9ddf7f6a97ac6c094d590a5 (MD5) license_rdf: 23148 bytes, checksum: 9da0b6dfac957114c6a7714714b86306 (MD5) / Approved for entry into archive by Luciana Ferreira (lucgeral@gmail.com) on 2016-01-15T09:41:25Z (GMT) No. of bitstreams: 2 Dissertação - Marco Antonio Simonassi Damasceno - 2014.pdf: 2029752 bytes, checksum: 64ade632d9ddf7f6a97ac6c094d590a5 (MD5) license_rdf: 23148 bytes, checksum: 9da0b6dfac957114c6a7714714b86306 (MD5) / Made available in DSpace on 2016-01-15T09:41:25Z (GMT). No. of bitstreams: 2 Dissertação - Marco Antonio Simonassi Damasceno - 2014.pdf: 2029752 bytes, checksum: 64ade632d9ddf7f6a97ac6c094d590a5 (MD5) license_rdf: 23148 bytes, checksum: 9da0b6dfac957114c6a7714714b86306 (MD5) Previous issue date: 2014-12-15 / Among the assistentialist professions that deal directly with the pain and suffering such as Psychology, Medicine, Nursing, Teaching, Social Work and Dentistry, it has been reported with relative frequency about disorders that may vary psychic symptomatology to conditions of physical disability with deep repercussions in work environment, family, social and organizational. According to Donatelle and Hawkins (1989) the financial losses, to the United States coming from stress and related frameworks as Burnout Syndrome (BS), reaches annually the house of 150 billion dollars. As if these were not enough data, there still has to be considered the psychological devastation that individuals are submitted and socializing losses of life and from Burnout syndrome. Having watched data reported, we consider relevant to elaborate an investigation that encompassed a group of about 50 dentists to detect the incidence of Burnout Syndrome in them using the Maslach Burnout Inventory. We also proposed to check the relationship established between this syndrome and Interpersonal Relations utilizing the Check List of Interpersonal Transactions – II. During of this research also harvest data from group of undergraduate Dentistry Students with the purpose to verify if the syndrome settles in the final period of formation or if it is characteristic of individuals already working in the dental market. / Dentre as profissões assistencialistas e que lidam diretamente com a dor e sofrimento tais como a Psicologia, Medicina, Enfermagem, Docência, Assistência Social, Odontologia, relata-se com certa frequência acometimentos que podem variar de sintomatologias psíquicas a quadros de incapacitação física com profundas repercussões no ambiente de trabalho, familiar, organizacional e social. Segundo Donatelle e Hawkins (1989) os prejuízos financeiros aos Estados Unidos da América oriundos de quadros de stress e similares como a Síndrome de Burnout chegam anualmente a casa de 150 bilhões de dólares. Não bastasse estes dados ainda há que se considerar a devastação psíquica a que os indivíduos portadores são submetidos e os prejuízos de convívio e de vida provenientes da Síndrome de Burnout (SB). Tendo observado os dados e fatos relatados consideramos pertinente elaborar uma investigação que abrangesse um grupo de aproximadamente 50 odontólogos para verificar a incidência da Síndrome de Burnout neles, através do Maslach Burnout Inventory. Também nos propusemos a verificar qual a relação que se estabelece entre esta síndrome e as Relações Interpessoais utilizando para tanto o Check-List of Interpersonal Transactions – II, por ocasião desta pesquisa ainda colhemos dados de grupo de graduandos em Odontologia a proposito de verificar se a Síndrome se estabelece no período final de formação ou se ela é característica de indivíduos já atuantes no mercado odontológico.

Este trabalho analisa os arranjos institucionais de produção adotados nas transações realizadas entre fornecedores e empresas de processamento (usinas e destilarias) no sistema agroindustrial sucroalcooleiro da região Centro-Sul do Brasil, comparando os arranjos institucionais de produção adotados em regiões tradicionais e não tradicionais no cultivo de cana-de-açúcar. Considerando o objetivo do estudo, a base teórica que sustenta a investigação está embasada em autores da Nova Economia Institucional, tendo particular atenção sobre a linha da Economia dos Custos de Transação. A base metodológica utilizada no estudo se alicerça sobre a Abordagem Holística sugerida por Bogetoft e Olesen, para tanto foram realizadas entrevistas semi-estruturadas com produtores e representantes de instituições do sistema sucroalcooleiro, além da elaboração de dois estudos de casos com empresas processadoras. As empresas processadoras escolhidas para os estudos de casos encontram-se em regiões distintas em relação ao histórico de produção de cana-de-açúcar, assim como as sete associações de fornecedores de cana entrevistadas. Ao final da coleta de dados e análise das informações foi possível constatar indícios da existência de distinção entre os arranjos institucionais de produção de fornecimento entre regiões tradicionais e não tradicionais de cultivo de cana-de-açúcar, o que diferencia os tipos de contratos entre empresas processadoras em diferentes regiões. No caso da empresa processadora localizada em região não tradicional, verificaram-se dificuldades para esta conseguir produtores agrícolas dispostos a realizarem contratos de fornecimento. No outro estudo com empresa processadora localizada em região tradicional no cultivo de cana foram encontrados casos de fornecedores que mantêm uma relação estável de longa duração através de acordos orais baseados na reputação criada ao longo de décadas de transações. As conclusões expostas ao final do estudo demonstram a importância do aprofundamento dos estudos envolvendo os arranjos institucionais de produção adotados por empresas em diferentes ambientes institucionais. / This work analyzes the institutional framework that mediates market transactions between suppliers (plants) and processing firms (distilleries) within South Central Brazils sugar and alcohol agroindustry. To that end, a comparison is made between institutional production arrangements in traditional and non-traditional sugar cane farming regions. The theoretical background of this investigation is based on the New Institutional Economics, particularly focused on Transaction Cost Economics. The methodology adopted is a departure from the Holistic Approach proposed by Bogetoft and Olesen. In-depth, semi-structured interviews were conducted with producers representing institutions in the sugar and alcohol sector, as well as two case studies on processing firms. Due to the historical development of sugar agriculture, the processing firms and the seven suppliers organizations interviewed are located in different regions. Data collection and information analysis pointed to the existence of different contracts deriving from different institutional arrangements between them. Whereas agricultural producers supplying processing firms in non-traditional regions were observed to be unwilling to sign contracts, those located in traditional ones were found to have stable, long-term relationships governed by verbal contracts based on reputation built along decades of transactions. Conclusions demonstrate the importance of deepening the studies involving institutional arrangements adopted by companies located in different institutional settings.

Dans l’épure de la classification traditionnelle des sociétés, l’intuitu personae est considéré comme une notion inutile, absente du fonctionnement des sociétés par actions. Pourtant, sous l’effet des considérations financières des fonds d’investissement et des fonds de pension qui apportent des capitaux importants, l’intuitu personae fait étonnement son retour dans le droit des sociétés. L’intuitu personae, locution latine qui désigne « la considération de la personne » est une notion polymorphe. Ainsi, son identification dans les opérations de capital n’est pas aisée et oblige à analyser les techniques mises en place par le législateur par le biais des clauses d’agrément, des actions de préférence ou des opérations de transmission universelle de patrimoine. La notion révèle ainsi ses forces et ses faiblesses au contact de la contractualisation du droit des sociétés. Cette redécouverte de l’intuitu personae oblige également à s’interroger sur son rôle dans les nouvelles orientations du paysage sociétaire. L’intuitu personae fragilise les critères de définition de la société, affecte les fonctions traditionnelles du capital social et s’impose comme un facteur de mutation. Son impact est considérable dans le contexte d’un droit des sociétés traversé par des courants contradictoires. Dès lors, cette étude propose de conceptualiser les bouleversements opérés par l’intuitu personae dans les opérations de capital. À cet égard, l’intuitu personae contribue à la modernisation du droit des sociétés. / In the blueprint of traditional classification of companies, the concept of intuitu personae is considered a useless concept in regard to corporations’ transactions. However, due to financial considerations of investment funds and pension funds that provide important capital, intuitu personae astonishingly makes a return into Corporate Law. Intuitu personae is a Latin expression meaning “the reputation of the person”. It is a polymorphic concept. Consequently, it’s identification in capital operations is not easy task and requires the analysis of techniques implemented by the legislator through approval clauses, preference shares or universal transmission of wealth operations. The concept reveals its strengths and weaknesses in regards to Corporate Law. This rediscovery of the concept of intuitu personae also raises questions about its role in the new directions of the societal landscape. Intuitu personae weakens the definition criteria of the company. It affects the traditional functions of capital shares and establishes itself as a mutation factor. Its impact is significant in the context of Corporate Law crossed by conflicting currents. Therefore, this study proposes to conceptualize the changes made by intuitu personae in capital transactions. In this regard, the intuitu personae contribute to the modernization of Corporate Law.

Les marchés financiers occupent une place prépondérante dans l’économie. La future évolution des législations dans le domaine de la finance mondiale va rendre inévitable l’introduction de frictions pour éviter les mouvements spéculatifs des capitaux, toujours menaçants d’une crise. C’est pourquoi nous nous intéressons principalement, ici, aux modèles de marchés financiers avec coûts de transaction.Cette thèse se compose de trois chapitres. Le premier établit un critère d’absence d’opportunité d’arbitrage donnant l’existence de systèmes de prix consistants, i.e. martingales évoluant dans le cône dual positif exprimé en unités physiques, pour une famille de modèles de marchés financiers en temps continu avec petits coûts de transaction.Dans le deuxième chapitre, nous montrons la convergence des ensembles de sur-réplication d’une option européenne dans le cadre de la convergence topologique des ensembles. Dans des modèles multidimensionnels avec coûts de transaction décroissants a l’ordre n−1/2, nous donnons une description de l’ensemble limite pour des modèles particuliers et en déduisons des inclusions pour les modèles généraux (modèles de KABANOV). Le troisième chapitre est dédié a l’approximation du prix d’options européennes pour des modèles avec diffusion très générale (sans coûts de transaction). Nous étudions les propriétés des pay-offs pour pouvoir utiliser au mieux l’approximation du processus de prix du sous-jacent par un processus intuitif défini par récurrence grâce aux itérations de PICARD / Financial markets play a prevailing role in the economy. The future legislation development in the field of globalfinance will unavoidably lead to friction to prevent speculative capital movements, always threatening with crisis. Thatis why we are interested in the financial market models with transaction costs.This thesis consists of three chapters. The first one establishes a criterion of absence of arbitrage opportunitiesgiving the existence of consistent price systems, i.e. martingale evolving in the dual cone expressed in physical units.The criterion holds for a family of financial market models in continuous time with small transaction costs.In the second chapter, we show the convergence of super-replication sets for a European option in the contextof the topological convergence of sets. In multivariate models with transaction costs decreasing at rate n-1/2, we give adescription of the limit set for specific models. We deduce inclusions for general models (KABANOV's models).The third chapter is dedicated to the approximation of the European option price for models with very generaldiffusion (without transaction costs). We study properties of the pay-off to make best use of the approximation of theunderlying asset price, based on PICARD iterations.

Thesis deals with relationships among financial accounting, auditing, taxation and transfer pricing. There is a description of the legislative regulation of transfer pricing in financial accounting, auditing and taxation. Thesis studies importance of the transfer pricing in these named areas. The importance of the transfer pricing in each area is evidenced with model and real examples. Thesis contains a lot of rulings of the Supreme Administrative Court.

The volume of mergers and acquisitions in 2014 amounted to 3.6 trillion USD. Acquisition activity over the previous year increased by 26 % and the volume of mergers and acquisitions was the third highest in history after 2007 and 2006. The constantly increasing number of mergers and acquisitions and an increase in the volume of capital required for the realization of transactions stand in stark contrast to the high rate of failure. The primary motive for international mergers and acquisitions is the realization of synergies. The paper analyzes in detail the factors that influence the success of international mergers and acquisitions, especially strategic fit, cultural fit and integration. It also analyzes the motives which lead to realization of those transactions and how they relate to the realization of synergies. The results of previous studies are presented in the theoretical part, practical part is focused on a specific acquisition of Anheuser-Busch, which is part of the global brewing group Anheuser-Busch InBev, which in 2014 bought a small Czech brewery - Pivovar Samson.

The topic of this thesis is transfer pricing, its significance in international trade and the on-going effort to create appropriate tax rules by both international organisations and the Financial Administration of the Czech Republic. My thesis has a particular focus on a new disclosure to a company's income tax return, that is, the Overview of Transactions with Related Parties. The theoretical part of this thesis addresses the function and significance of transfer pricing in international trade as well as the current development in international and domestic transfer pricing rules. The practical part focuses on an analysis of how the connections between the Overview of Transactions with Related Parties and the financial statements of entities help the Financial Administration to derive significant ratios and conduct systematic data collection to analyse transactions with related parties and detect which entities to audit.