Africa and the taxation of permanent establishments: Is the definition of "permanent establishment" as used in the double tax agreements of selected 'fishing rich' African countries sufficient to protect the taxing rights on those diminishing natural resources?

Includes bibliographical references (leaves 115-119).This thesis tests the sufficiency of the definition of permanent establishments (PE), as contained in the Double Tax Agreements (DTAs) of selected "fishing rich" African countries, in protecting their taxing rights over profits made by non-residents from fishing in the waters of their states. The concept and meaning of "fixed place of residence" and "any other place of extraction” of natural resources is analysed in the context of establishing a PE in the Source State, taking various rules of interpretation, commentaries, judicial and academic views into account. It is concluded that although there are strong arguments in support of the view that a fishing vessel can be considered a fixed place of business, a prudent approach should be adopted. A fishing vessel is not a PE, unless specifically included in the specific DTA of Contracting States

Perception Configurations in Business Relationships

nonPeerReviewe

Stress in Business Relationships

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Dream catching

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The Mental Footprint of Marketing in the Boardroom

Special Issue: Back where we belong – Marketing as the organization’s core strategypeerReviewe

Customer Needing: A Challenge for the Seller Offering

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How Customers Involve Service Providers

The emancipation of customers has raised an interest into how service providers can involve customers in their processes. In contrast, we argue that the key challenge for companies will become how they can get involved in customers’ processes and that represents an unexplored area open for academic research. Our paper is conceptual with empirical illustrations and builds on a Customer Dominant business Logic approach. It presents a model of how the customer’s logic is grounded in customers’ rather stable interest structure and perception of service providers and how this forms different styles of using service and interacting with service providers

Why Does It Feel So Good To Be Bad? An empirical analysis of traditional and modern sin stock returns in developed countries from January 2000 to August 2022

This study aims to give managers and investors a better financial basis to assess whether they should be exposed to sinful companies. Accordingly, this thesis examines the presence of alpha for sin stocks in developed countries between January 2000 to August 2022. The study expands on previous research and applies a contemporary definition of the sin industry that considers oil and gas companies. Additionally, the study expands the observation period and the geographical area beyond what has already been done and includes stricter stock criteria. With 412 identified stocks for developed countries, this thesis has one of the most extensive sin stock samples to be analysed to date. Multi-factor models are applied to control for risk exposure variations between different valueweighted portfolios. We estimate alphas by exploiting a long-short investment strategy by which we are long sin and short in the market and then 2) short in the comparable portfolio. Our results demonstrate an economically large and statistically significant alpha for both the traditional and modern sin portfolio in excess of the market. The market risk-, profitability, and investment factors explain the abnormal returns to some extent. Among the traditional sin industries, gambling offers the highest alpha. However, the other industries also outperform the market. For modern sin stocks, the value factor is crucial in explaining abnormal returns over the entire period. Results detect an increase in modern sin stock alpha ex-post the divestment movement, where the profitability factor explains some of the return premium. When we apply the second long-short investment strategy for both traditional and modern sin stocks we find no evidence of alpha. Thus, investors might earn a similar risk-adjusted return if they invest in a comparable portfolio. Nevertheless, the expected excess return over market return is more remarkable for sin stocks when compared against the non-sinful companies.nhhma