Connection between corporate governance and company valuation in Assignment

Connection between corporate governance and company valuation in emerging market countries - Assignment Example fferent features of the corporate governance structures like the protection of the interests of minorities and in adequate rights of investors lead to poor performance within the firm and low value creation for the business (LaPorta, Silanes and Shleifer, 1999, pp.471-517). In many similar studies, researchers have indicated that the firms which follow lesser or no stringent rules in the corporate governance practices generally tend to have lower valuation in the market. Klapper and Love (2012) have focused their study on the emerging markets and indicate that poor corporate governance practices can increase the risks that are associated with the investments in the emerging markets (Klapper and Love, 2004, p.703-725). In a particular study on the emerging market of Korea, Black and Kim (2003) have pointed out that corporate governance is a significant dynamic of the market value of the firms in Korea, especially for the public companies (Black, Bernard and Kim, 2010, pp.414-425). Bla ck (2001) also establishes a significant linkage between the corporate governance and the value of firms in the market of Russia. Black, Bernard, Love and Rachinsky (2006), suggests that whereas in developed countries like the United States and Europe the corporate governance practices are not as critical as factors like ownership structure from deciding the value of the firm, in developing economies the role of corporate governance in deciding the value of the businesses is significant (Black, Love and Rachinsky, 2006, pp.361-379). Transparency can be implemented by stringent corporate governance practices and transparency is a critical factor in preventing the conflict of interest of the controlling shareholders and the minor shareholders. The conflict of interest between the controllers of the business and the external finance sources of the business may result in the development of the principal agent problem. The principal agent problem will create agency costs that are likely to

Recombinant Art Essay Example | Topics and Well Written Essays - 500 words

Recombinant Art - Essay Example 23 Mar. 2009 ). From oulipo to recombinant poetics Interaction with different forms of generative production enables one to dynamically explore emergent meaning. New forms of computer-based art can make it possible for participants to actively become engaged in aspects of the production of the work. Each "user" of a specifically authored computer-mediated system may have a quite different experience emerging through interaction. Yet, emergent systems can also be analogue in nature. There is an interesting commonality to generative literary, artistic, and musical production that is relevant to the OULIPO, Recombinant Poetics, as well as techno-audio remix culture. In the following, I will compare and contrast approaches to combinatorics from the perspective of each of these fields of research. OULIPO (Ouvroir de litrature potentielle - The Workshop for Potential Literature) "does not want to be considered a literary school, or to overtly advance specific ideologies or theories, its goals portray an understanding of literature that merits outline and critique". In his illuminating book entitled OULIPO - A Primer of Potential Literature, Warren F. Motte, Jr., outlines the history of OULIPO, which was conceived at the initiative of Raymond Queneau and Franois Le Lionnais: It was born...

Event this week Assignment Example | Topics and Well Written Essays - 250 words - 1

Event this week - Assignment Example This Greek government has fallen into conflict with other European countries after failing to honor previously set agreements. Moreover, there is a plunge in oil prices. This plunge will affect the British economy if it persists since the foreign exchange created by the sale of petroleum products will fall to low levels. The drop in the oil prices has brought a crisis in many oil-producing countries due to the low concentrations of income generated. It has also brought confusion in Futures markets and international stock exchange markets. Trading in oil and its products is becoming unpredictable and economically risky (Malcolmson, 2014). This collision with Greece implies that Britain will have one less trading partner. This change calls for urgent economic policy modifications and analysis to evaluate the best ways to move forward after the exit of such a crucial player in the Eurozone. An EU summit is expected to resolve this issue and come up with a reasonable solution (Fahrholz, 2007). This decision will affect the economic relationship of Greece with other countries that trade with Britain and other European nations. Some friends of Greece might decide to support them and break their trading ties with other European countries if Greece pulls out of the Eurozone. Others might decide to break their ties with Greece by weighing the benefits they will get when they trade with Britain, compared to trading with Greece only. This event helps students undertaking this course to understand the need of trading partners. It also touches on the effects of breaking trading ties due to failed contracts. The reading of a budget is essential in understanding and explaining a country’s current economic status. It also outlines future economic prospects and their intentions towards developing the country’s economy. Nick, F. (2015, March). Budget 2015: Oil Prices and Greece Threaten British Economy. The Guardian. Retrieved from

International corporate reporting issues Essay Example | Topics and Well Written Essays - 3000 words

International corporate reporting issues - Essay Example Literally, the differences in the financial reporting system in varying countries have acted as an obstacle in the integration of national economy with global economy (Verschoor, 2011; Alexander, Britton & Jorissen, 2007). Thus, in order to deal with these challenges, IASB and FASB together have been duly engaged in promoting harmonization of financial reporting systems (Whittington, 2008; Mogul, 2003). Emphasising on these aspects of the international accounting standards, this paper intends to identify and explain the six major qualitative characteristics of accounting information. Furthermore, this paper aims to evaluate the application of these qualitative characteristics by Diageo plc focusing on three particular areas. ... The institutions in the accounting standards namely International Accounting Standard Board (IASB) and Financial Accounting Standard Board (FASB) have been involved in developing conceptual framework for enhancing the financial reporting system. The primary objective of this conceptual framework has been related with identifying the major purpose of financial reporting in business in accordance with the prevailing economic circumstances (Obaidat, 2007). In other words, the conceptual framework developed in accumulation of the principles specified by IASB and FASB deals with establishing objectives and guidelines which are expected to serve as the basis for the preparation of financial accounting and reporting standards. It is worth mentioning that conceptual framework mainly consists of four major items which includes: Objectives related with financial reporting Elements concerning with financial statements Recognition and measurement concepts Qualitative characteristics of accountin g information Additionally qualitative characteristics are considered to be one of the vital components of the conceptual framework that supports decision-usefulness and stewardship. Moreover, there are six primary qualitative characteristics that are considered to be vital for economic as well as business decision making according to the specified guidelines in the international standard (Obaidat, 2007). These six elements of qualitative characteristics have been further explained below in relation to their usefulness in terms of decision making and stewardship. Relevance In order to ensure the obtained accounting information to be relevant to creditors, investors and other interested parties, it has been argued that such accounting information

Freedom of Expression Essay Example | Topics and Well Written Essays - 500 words

Freedom of Expression - Essay Example According to the research findings, it can, therefore, be said that as with various popular terms over the history of English language, the term â€Å"freedom of expression† has come to mean a wide variety of things and is definitely open to interpretation. It could mean freedom to act in any matter at any place whatsoever without regard to any standards. But it has been defined within certain limitations and exceptions, the most relevant to the case under consideration being defamation and obscenity. The woman with the t-shirt that caused her eviction from the plane was expressing a political opinion, and as such cannot be held responsible for defamation. For defamation to be established, it should also be shown to be causing tangible harm by the publication of an alleged fact, which is false. None of the images printed caused any actual damage to their subjects because the t-shirt made no false claims based on facts about the subjects depicted on it. An opinionated statement is not defamation, and a citizen reserves the right to express an opinion. Where the conflict comes in, however, is the display of profanity. The print draws a parallel with a popular movie title "Meet the Fockers", which was not banned for obscenity as in the title it was a clever pun and not much else. The t-shirt replaces the "o" with a "u", which makes it an explicit term, unsuitable for a captive audience aboard a plane, which might include minors. Possibly exposing minors to strong language is not an exercise in freedom of expression, but rather its curtailment for others involved. The venue of the incident was not public space, but private property owned by the South West Airlines, and as such, they retained the right to object to words unacceptable to them or other passengers.

Initial reflection Essay Example | Topics and Well Written Essays - 750 words

Initial reflection - Essay Example I never knew that using proper fluent English was an issue for the people living in that area. When I stood to make my speech and give thanks, that is the time I learned I was supposed to address the audience in a certain way. Slang is a native Black American language that originated from the slaves while working on the plantations. Slaves were forbidden from speaking any other language apart from English. The slaves led to the birth of Slang as a language among the Africa Americans people. I have lived in the poor people area of Amsterdam for about half a year that did socialize with black people. I moved to the suburbs where people spoke proper English, and I adapted to the system of proper English speaking people. From the time I joined University, I have been speaking in correct English. The charity event was dominated by Black people, and everyone was speaking Slang. Since the speech I was making was official, I thought speaking fluent, proper English was appropriate. Speaking Slang does not mean one is stupid and can’t read and write. We have people who speak proper English, but still don’t perform well in school. It shows proper English has nothing to do with performance in the subject. African American identifies itself with the way they speak. They do a lot of code-switching while speaking. It is who they are. Slang makes someone cool, and speaking proper English make people raise eyebrows as to what one says. It does not apply to all Africa Americans, though each time someone criticized my language, it was the Black people. I am used to speaking proper English now. My speech was written in proper and fluent English that many residents did not approve. Immediately after my first sentence, one of the kids interrupted me and demanded I speak a language more understandable. I had used the word â€Å"ecstatic† in explaining how glad I was to be part of the event. The kids insisted the use of simpler words like â€Å"happy† was

Anselm and Aquinas Perspective Essay Example for Free

Anselm and Aquinas Perspective Essay Anselm of Canterbury and Thomas Aquinas had conceptualized their own justification for the existence of God. For Anselm, he chiefly indicated his strong defense of intellectual foundations of Christianity under the concept of â€Å"ontological argument† for the existence of God. Anselm argued that the existence of God is not only in human minds but rather in reality. The idea of Proslogion had become the main argument of Anselm, which he used in order to defend his idea of God’s existence. The idea of ontological proof of had considered the concept of justifying the logic behind the existence of God. On the other hand, the ideas of Aquinas had provided significant approach of cosmological theology in order to prove the existence of God. Aquinas had utilized the five components of reason that justify God’s existence in a logical perspective. Discussion Ontological Proof of Anselm The ontological argument of Anselm considered the idea of Proslogion, which argued the logical being of God. According to the perspective of Anselm, the being of God is so evident that the definition present in the character of God is already enough to justify His existence. As stated in the book of McGrath (1998), in Anselm’s Proslogion, he offers the definition of God as â€Å"that than which no greater thing can be thought† (89). From the idea of Anselm, the existence of God came from the statement, â€Å"that than which nothing greater can be conceived. † The arguments of Anselm’s ontological proposal involve, God as the greatest possible being. Anselm argued that the notion and the nature of a being existing only in the minds of human being and society could not be considered as great or powerful. Hence, if God is to exist, He must exist in reality for Him to commence His power overall. In this logic, Anselm justified the existence of God, in not only the mind of Human beings but most of all in reality. In the perspective of Anselm, he utilized the idea of faith and logic in order to justify God’s existence. The idea of using faith gave the thought of God’s presence as determined by belief of His presence. For Anselm, in order for one to understand God’s existence, one should first believe that God exist in reality and not only in human minds. Faith had been viewed by Anselm as an important component in understanding the nature and the mystery for God’s existence. In the idea of faith, one does not have to consider the validity of truth or false in believing God’s existence, but only a simple indication of believing or not believing. In the context of faith, he argued that the existence of God is not the ones in the mind of men, but rather the agreement of faith. The human minds had their control on whether believing or not believing the thoughts of God’s existence. On the other hand, Anselm’s use of logic to prove the argument of God’s existence occurred in the concept of Proslogion. Within the logic of Proslogion, Anselm mentioned that the being of God under His characteristics of being transcendent and immanent were the main points to consider His existence. According to Hogg (2004), if God were not transcendent then there would be no reason to assume His necessity. If God were not immanent, then no one could know Him (95). Under the theology of Anselm, the concept of faith should facilitate the belief for the revelations of God’s existence, while the idea of Prologion gave rise to the logical reasoning of explaining the existence of God. Cosmological Proof of Aquinas Aquinas’ argument of the cosmological evidence of God’s existence revolved around five components, which provided the argument of his defense. In Summa Theologia of Aquinas, he argued using these five ways of justifying the existence of God under the basic thought of man’s relation with God as Creator and creation. In his first argument, Aquinas provided the â€Å"argument of motion† in order to depict the concept of change. He argued that the presence of dynamics in this motion was brought by a cause that possessed significant purpose. In addition, he mentioned that from a single cause of motion, another cause is employed, and from there, under still until the concept of unlimited causation arrived. Aquinas thought that the origin of this greater chain cannot possibly come from human nature but more significantly from God, which proved the He existed. In Aquinas’ second argument, he utilized the aspect of â€Å"cause and effect† argument that gave the idea of an event as being the effect and influenced by a cause. Somehow, the idea of the second argument had been derived from the concepts of motion wherein the cause-and-effect motion should always possess the original cause. In Aquinas’ argument, he pointed this original cause as God. In the third argument, Aquinas introduced the idea of contingent human beings, which he argued the purpose of the presence of non-necessity being (human beings) and the presence of necessity being (God). According to the perspective of Aquinas, the non-necessity being was able to come since the existence of the necessity being had always been present. Aquinas provided his declaration and personification of necessity being as God, who is the necessity being and facilitated every creation. The fourth argument of Aquinas, he proposed the idea of values origin. He considered that the values of goodness, grace, love, forgiveness, etc had all been originated from the positive background of God. The only nature that can provide the true intent of these values is God’s nature; hence, justifying the existence of God. Lastly, the fifth argument of Aquinas involved the necessity for a being to facilitate the task of supervising the creation, which can only be facilitated by God. Conclusion Within the study, the existence of God had been proven under two perspectives of Anselm and Thomas Aquinas. With Anselm’s Ontological proof of God’s existence, he defended with the two components of faith and logic. He argued that God is present not only in the human mind for God is great, and no being can be great if he only exists in the minds of men. Hence, with faith that God is existing, God indeed is existing, and because He is great, His existence is justified. On the other hand, Aquinas provided the five components that defended the existence of God. He introduced the argument of motion (God facilitated the change), argument of cause and effect (God as the very cause), argument of non-contingent being (God as the essential being), argument of the origins of values (God provided all the positive values), and lastly the argument of supervisor of creation (God sees and manages the happenings in the Earth). Works Cited Hogg, David S. Anselm of Canterbury: The Beauty of Theology. Ashgate Publishing, Ltd. , 2004. McGrath, Allister E. Science Religion: An Introduction. Blackwell Publishing, 1998.