...Embry-Riddle Aeronautical University ERAU Scholarly Commons Economics, Finance, & Information Systems Daytona Beach 2014 College of Business The Effect on Stockholder Wealth of Product Recalls and Government Action: The Case of Toyota's Accelerator Pedal Recall Jayendra Gokhale Embry-Riddle Aeronautical University - Daytona Beach, gokhalej@erau.edu Raymond M. Brooks Oregon State University Victor J. Tremblay Oregon State University Follow this and additional works at: http://commons.erau.edu/db-accounting Part of the Business Administration, Management, and Operations Commons, Finance Commons, and the Management Information Systems Commons Scholarly Commons Citation Gokhale, J., Brooks, R. M., & Tremblay, V. J. (2014). The Effect on Stockholder Wealth of Product Recalls and Government Action: The Case of Toyota's Accelerator Pedal Recall. The Quarterly Review of Economics and Finance, 54(4). http://dx.doi.org/10.1016/ j.qref.2014.06.004 This is the submitted author’s version that was accepted for publication in The Quarterly Review of Economics and Finance. Changes resulting from the publishing process, such as peer review, editing, corrections, and formatting are not reflected in this document. Changes may have been made to this work since it was submitted for publication. The published version is available at http://dx.doi.org/10.1016/j.qref.2014.06.004. This Article is brought to you for free and open access by the College of Business at ERAU Scholarly...
Words: 6827 - Pages: 28
...TEXTING IS TODAY’S MOST DEMANDED FORM OF COMMUNICATION AND WHILE SOME MAY THINK THAT IT IS JUST A SIMPLE TASK, THE ACT OF TEXTING WHILE DRIVING CAN ALSO BE ONE OF THE MOST DANGEROUS AND POSSIBLY FATAL FORMS OF COMMUNICATION IN THE WORLD TODAY. FIRST LET ME GIVE THE PROPER DEFINITION OF TEXTING WHILE DRIVING. TEXTING WHILE DRIVING IS THE ACT OF COMPOSING, SENDING, READING OR SENDING A TEXT MESSAGE, READING OR SENDING EMAILS OR MAKING OTHER SIMILAR USE OF THE WEB ON A MOBILE PHONE WHILE OPERATING A MOTOR VEHICLE. WE ALL HAVE SEEN THE COMMERCIALS WHERE A DRIVER TAKES HIS EYES OFF THE ROAD TO READ A TEXT MESSAGE AND IN AN INSTANT THE DRIVER’S LIFE IS SUDDENLY CHANGED BY A HORRIFIC ACCIDENT ALL DUE TO TEXTING WHILE DRIVING. I KNOW THAT I DON’T EVER WANT TO THINK ABOUT BEING RESPONSIBLE FOR A TRAFFIC ACCIDENT THAT WOULD TAKE THE LIVES OF OTHER MOTORISTS OR PEDESTRIANS. AND I’M PRETTY SURE THAT NONE OF YOU GUYS WANNA WAKE UP EVERY MORNING WITH THE FEELING OF KNOWING THAT YOU WERE PERSONALLY RESPONSIBLE FOR PUTTING AN INNOCENT PERSON IN A WHEELCHAIR FOR THE REMAINDER OF THEIR LIVES OR EVEN SHORTENING THE LIFE OF A SMALL CHILD ALL BECAUSE YOU DECIDED TO TEXT WHILE DRIVING. USING A CELL PHONE WHILE DRIVING IS DANGEROUS ENOUGH BUT TEXTING WHILE DRIVING WILL HAVE THE EFFECTS THAT ARE 100X MORE DEVASTATING. ACTUALLY RESEARCH SHOWS THAT 5 SECONDS IS THE AVERAGE TIME YOUR EYES ARE OFF THE ROAD WHILE TEXTING, AND WHEN TRAVELING AT 55 MPH THAT’S ENOUGH TIME TO COVER THE ENTIRE LENGTH...
Words: 1570 - Pages: 7
...state of mind of the D is hugely important in assessing whether or not he is at fault. However, to be found guilty of most criminal offences (true crimes) both an AR and MR must be proved. The AR also includes elements of fault. These elements relate to the level of responsibility, a positive voluntary act is considered more blameworthy than an omission. The AR of an offence must be voluntary or done with free will for there to be any criminal liability. The D must be in control pf their actions. There are in fact situations where the AR is involuntary and the D is therefore not at fault. Automatism shows the D has no fault if they are not in control of the act they have committed. Quick for example could plead automatism as it was argued that the insulin he had taken made him attack a mental patient, therefore it was not his fault. This lack of fault is reflected in the outcome: a successful plea of automatism results in an acquittal. Self-defence is also a complete defence affecting the AR of a crime, but the D is saying ‘I did it, but there was a good reason to do so’. The case if Williams is a good example of this. Exceptions to the rule that the AR must be voluntary are the ‘state of affairs’ cases. Here the D may not be at fault but is still liable (absolute liability) there is not fault requirements for the AR...
Words: 2535 - Pages: 11
...development. It causes many others problem to the country all to the world. It because the inflation itself is not only burden to that country, but it also spread the effect to the related country that has relation with them. Not even one single country can avoid the inflation can happen. It always happens but the increasing of inflation can cause others problem worsens. It is the phenomenon that has features of world wide. It affected that not conclude only to certain country. It always happens to most country in the world .Inflation also spread from the host to others, start from the primary country such as USA if they experience the inflation, then other country also experience it in the various degree of stages. When the inflation happens, it involved each part of the community. Household, workers, investor, and even pensioner affected by the inflation. But the effect is also various, certain people get the benefit from it and the others get the losses. It depend on how the money use to us, either it been used to pay debt or to pay goods we buy. Recently, the world has experience the inflation once again that affected most of the country in the world. It caused by the increasing in price of world crude oil as a main reason. In Malaysia In general, inflation is a rise in the general level of prices of goods and services in an economy over a period of time. When the price level increases, each unit of currency buys fewer goods and services. Meanwhile, inflation rate is the annually increase...
Words: 5537 - Pages: 23
...Ford Motor Company (Case Analysis) Group #6- TGAA TTH 1:00 Member 1- Taylor O’Neill Member 2- Knyra Ratcliff Member 3- Alex Perkins Member 4- Xu Han Member 5- Kevin Carter Member 6- Alex Dundon/ Nick Tran Presentation Date: 11/17/15 Introduction Our group has chosen Ford Motor Company as our case analysis subject. Ford is an American multinational automaker and was founded by Henry Ford in 1903. Ford Motor Company is the second largest automaker in the United States and is also the fifth largest automaker in the world. Throughout the paper we will be sharing background information of the company such as the vision statement, mission statement, company history, the industry, and our company’s strategy. We will also be sharing the elements of Ford’s internal and external environment (includes historical and competitor financial information), problem statements, possible alternative solutions to those problems, and our recommendations as to which alternative solutions would be best used in response to the problems at hand. Towards the end of our case analysis on Ford Motor Company there is a visual present for both the SWOT analysis and the grand strategy matrix. We have provided appropriate and significant content in completion of this case analysis. Background Vision Statement “To become the world's leading Consumer Company for automotive products and services. (Homepage, 2015)” Mission Statement “One Team. People working together as a lean, global enterprise...
Words: 5526 - Pages: 23
...10 $ including GST the driver’s handbook In this book: • your road safety responsibilities • the road rules • drivers and licensing • vehicles and registration • fitness to drive self assessment. The information contained within this handbook has been prepared to help you become better informed about road safety, road rules, drivers and licensing and vehicle registration. It should not be taken as a precise interpretation of the law. It does not set out to be complete or a substitute for the legislation made by Parliament. Recent changes in laws may not be reflected in this publication. The Driver’s Handbook can be downloaded from mylicence.sa.gov.au If you require further information, please call 13 10 84 between 8am and 6pm Monday to Friday. Information on the relevant South Australian legislation may be obtained from the following web site: www.legislation.sa.gov.au references • The Driving Companion (for Learner Drivers) • Australian Road Rules • Road Traffic Act (1961) and Regulations • Motor Vehicles Act (1959) and Regulations Department for Transport, Energy and Infrastructure. This work is copyright. No part may be reproduced by any process without prior written permission from the Department. First published in Australia 2000. MR200 September 2010. W E L C O M E Welcome to the Driver’s Handbook which is designed to support all road users and contains essential information and useful tips. ...
Words: 50462 - Pages: 202
...I. Justification of Punishment a. Theories of Punishment and Purpose of Criminal Law Sentencing i. Deterrence 1. Utilitarian concept, forward-looking, premise: humans will act in their own interest 2. Individual Deterrence: general public is protected 3. General Deterrence: helps to protect public at large, justified on grounds of 1) prevention of crime by threat of arrest, conviction, punishment 2) prevention of crime by strengthening of moral norms 3) prevention of crime by stimulating law-abiding contact based on the impulse to conform. 4. Criticisms: 1) ineffective in cases where criminal is motivated by emotional concerns 2) one person might be used as a means to an end in order to deter others and benefit society as a whole ii. Retribution 5. Premise: humans act under free will and must be punished when they choose to violate society’s norms, backward-looking 6. Based on proportionality of punishment: the evil done to the victim is paid back to the perpetrator iii. Rehabilitation/Reform 7. Criticisms: 1)allocating resources to those who least deserve them 2) remaking humans with what society deems is the best 3) assuming that humans can simply be reconditioned iv. Incapacitation 8. Renders def unable to cause further harm to society 9. Criticisms: 1) too costly 2) ineffective in reducing recidivism 3) further...
Words: 14497 - Pages: 58
...Transportation Management (TRANS MGT) – Water Transportation Local – MV St. Thomas Aquinas Introduction MV St. Thomas Aquinas was a Philippine-registered passenger ferry operated by 2GO Travel. On 16 August 2013, the vessel collided with a cargo ship named MV Sulpicio Express Siete of Philippine Span Asia Carrier Corporation (formerly Sulpicio Lines) causing it to sink. As of 21 August 2013, there were 61 dead and 59 missing with 750 rescued as a result of the accident. Career Name: St. Thomas Aquinas ex-Superferry 2 ex-Aboitiz Superferry 2 ex-Ferry Sumiyoshi Owner: 2Go Group, Inc. Operator: 2GO Travel Port of registry: Philippines Manila, Philippines Ordered: 1 January 1972 Builder: Onomichi Dockyard Co, Onomichi Yard number: 239 Launched: 19 December 1972 Completed: March 1973 Out of service: 16 August 2013 Identification: IMO number: 7304663 Fate: Sank following collision with Sulpicio Express Siete General Characteristics Type: ROPAX Ferry Tonnage: 11,405 GRT, 5,869 NRT, 2,994 DWT Length: 138.6 m (455 ft.) Beam: 22 m (72 ft.) Installed power: Two Mitsubishi diesel engines (2 × 5,670 kW) Propulsion: Two shafts; fixed pitch propellers Speed: 19 knots (35 km/h; 22 mph) Crew: 116 Vessel The ferry, named after the Catholic Saint Thomas Aquinas, was a 455-foot (139 m) long roll-on/roll-off ferry capable of transporting both passengers and their vehicles. It measured 11,000 tons and was commissioned in 1973. It was operated by 2Go at the time of its sinking...
Words: 5798 - Pages: 24
...HOW CAN I TELL IF CAN A PERSON BECOME MY CHILD HAS BEEN ADDICTED USING MARIJUANA? TO MARIJUANA? HOW LONG DOES MARIJUANA STAY IN THE USER’S BODY? CAN MARIJUANA AFFECT MY CHILD'S GRADES? WHAT ARE THE EFFECTS OF MARIJUANA? MARIJUANA: FACTS PARENTS NEED TO KNOW Revised WHAT ABOUT EFFECTS ON M AR IJUANA? PREGNANCY? HOW IS MARIJUANA USED? LOSE THEIR MOTIVATION? HOW CAN I PREVENT MY CHILD FROM GETTING INVOLVED WITH WHAT ARE THE LONG-TERM EFFECTS OF MARIJUANA USE? WHAT DOES MARIJUANA DO TO THE BRAIN? CAN MARIJUANA BE USED AS MEDICINE? ARE THERE TREATMENTS TO HELP MARIJUANA USERS? REACTION? HOW MANY PEOPLE SMOKE MARIJUANA? CAN A USER HAVE A BAD OF OTHER DRUGS? LEAD TO THE USE DOES MARIJUANA AFFECT DRIVING? DO MARIJUANA USERS WHAT ARE THE SHORT-TERM EFFECTS OF MARIJUANA USE? HOW DOES MARIJUANA National Institute on Drug Abuse I National Institutes of Health II A Letter to Parents We at the National Institute on Drug Abuse (NIDA) are pleased to offer these two short booklets for parents and children to review the scientific facts about marijuana: (1) Marijuana: Facts Parents Need to Know and (2) Marijuana: Facts for Teens. Although it is best to talk about drugs when children are young—since that is when drug use often begins—it is never too late to start the conversation. Marijuana remains the most abused illegal substance among youth. By the time they graduate high school, about 46 percent of U.S. teens will have tried marijuana at least once in their lifetime...
Words: 4773 - Pages: 20
...AC14/AT11 Database Management Systems TYPICAL QUESTIONS & ANSWERS PART -I OBJECTIVE TYPE QUESTIONS Each Question carries 2 marks. Choosethe correct or the best alternative in the following: Q.1 Which of the following relational algebra operations do not require the participating tables to be union-compatible? (A) Union (B) Intersection (C) Difference (D) Join Ans: (D) Q.2 Which of the following is not a property of transactions? (A) Atomicity (B) Concurrency (C) Isolation (D) Durability Ans: (B) Q.3 Relational Algebra does not have (A) Selection operator. (C) Aggregation operators. (B) Projection operator. (D) Division operator. Ans: (C ) Q.4 Checkpoints are a part of (A) Recovery measures. (C ) Concurrency measures. (B) Security measures. (D) Authorization measures. Ans: (A) Q.5 Tree structures are used to store data in (A) Network model. (B) Relational model. (C) Hierarchical model. (D) File based system. Ans: (C ) Q.6 The language that requires a user to specify the data to be retrieved without specifying exactly how to get it is (A) Procedural DML. (B) Non-Procedural DML. (C) Procedural DDL. (D) Non-Procedural DDL. Ans: (B) Q.7 Precedence graphs help to find a 1 AC14/AT11 Database Management Systems (A) Serializable schedule. (C) Deadlock free schedule. (B) Recoverable schedule. (D) Cascadeless schedule. Ans: (A) Q.8 The rule that a value of a foreign key must appear...
Words: 20217 - Pages: 81
...AD OLE SCE N T Research Report S L E E P N E E DS and Resource Guide AND PATTERNS P U B L I S H ED B Y T H E N AT I O N AL S L E E P F O U N D AT I O N AD OLE SCE N T Research Report S L E E P N E E DS and Resource Guide AND PATTERNS P U B L I S HE D B Y T H E N AT IO N A L S L E E P F O U N D AT I O N w w w. s l e e p f o u n d a t i o n . o r g Table of Contents Preface .............................................................................................................................................................i PART ONE: Research Report ........................................................................................................................1 Introduction .............................................................................................................................................1 Physiological Patterns ........................................................................................................................2 Behavioral and Psychosocial Patterns................................................................................................2 Consequences of Poor Sleep in Adolescents .........................................................................................3 What Can Be Done ..................................................................................................................................4 Reference s................................................................
Words: 10194 - Pages: 41
...(design) Netfederation GmbH (interactive online report) Photography Bildarchiv Daimler AG, Fotolia (icons p. 18/19) Production l in millions of € 8,116 10,139 10,179 j in millions of € 6,830 8,720 7,290 l Total vehicle sales in millions 2.2 2.35 2.55 j 1,451,569 1,565,563 1,722,561 j Unit sales of Daimler Trucks 461,954 484,211 495,668 j Unit sales of Mercedes-Benz Vans 252,418 270,144 294,594 j 32,088 33,705 33,162 l in millions of € 79,986 83,538 98,967 j in millions of € 2,369 2,471 2,383 l in g CO2/km 140 134 129 l Unit sales of Mercedes-Benz Cars Unit sales of Daimler Buses Contract volume of Daimler Financial Services Product responsibility Dr. Cantz’sche Druckerei Medien GmbH (reprography) Bechtle Druck + Service GmbH und Co. KG (printing) Contact j 10,752 CO2 emissions of the European fleet (vehicles from Mercedes-Benz Cars) Mirjam Bendak 129,872 10,815 Group net income Daimler Sustainability Report 2014. Publications Manager Thomas Fröhlich 117,982 8,820 Research and development expenditure on environmental protection For the publisher Daimler AG, Mercedesstraße 137, 70327 Stuttgart, Germany 114,297 in millions of € Profit before taxes on income1 Publisher in millions of € Operating profit/EBIT1 Operations-related environmental protection Daimler AG, HPC E402 70546 Stuttgart Tel. +49 (0) 711 17-0 (headquarters) Fax +49 (0) 711 17-790-95251 E-Mail: sustainability@daimler.com http://sustainability...
Words: 50904 - Pages: 204
...Current Chinese Automotive Industry China’s first automobile manufacturing base, FAW (First Automobile Works), was built 50 years ago. From then on for over 30 years, there was no big progress in the Chinese automotive industry on both production and technology sides. Production capacity was low, and technology was outdated. From the middle 1980’s, with the establishments of joint ventures, the Chinese automobile industry began to develop faster than before. So far, all of the world's major automakers, such as General Motors, Toyota, Ford, Volkswagen, DaimlerChrysler, Nissan-Renault, PSA Peugeot Citroen, Honda and BMW, have established joint ventures in China*. In particular, the joint ventures control about 90 percent of China's passenger car market. The major players in the Chinese automotive industry FAW SAIC Changan Dongfeng Guangzhou AIC Beijing AIC GM Toyota Ford DaimlerChrysler VolksWagon PSA Hyduai Honda Nissian/Renault Fiat MAZDA BMW SUZUKI Kia Nanjing AIC Brilliance...
Words: 15842 - Pages: 64
...often called the “dot.com bubble” – business models, valuations and strategies were questioned with regards to their anchorage to reality and building endurable businesses. Based on a wide investigation of literature and reports within the Resource-based and Market-based view combined with first-hand interviews and second hand research, we have tried to find to what extent these strategies could or would have prevented investments in IT-ventures lacking the prerequisites for long term competitive advantage. The initial indications and rationale was that the information and frameworks would provide a structured strategic analysis that, if correctly used, could have prevented the poor investments and even lessened the impact of the crash. However, our conclusions are that a strategic analysis, using the MBV and RBV frameworks, would not have been able to give a correct strategic recommendation since the analysis would have been largely based on incorrect assumptions. Furthermore the analysis would not in an efficient way make us aware of the inflated valuations and the inherent traits of new technologies. However, by adding additional theoretical frameworks such as behavioural finance and dominant design, we could conclude that, a more “true” picture of the inherent risk with IT-ventures at the time could have been created which should...
Words: 29865 - Pages: 120
...in 1899 when he founded the Detroit Automobile Company, in Dearborn Michigan. It was not long after the Detroit Automobile Company failed that Ford founded the Ford Motor Company on June 16, 1903. What made Ford’s vision different from the other 87 car companies in the United States at the time was Fords understanding of the cultural impact automobiles will have on the society. Ford envisioned cars being an affordable item rather than a luxury in the near future by transforming the manufacturing process. The success of Ford Motor Company was because its’ strategy encompassed a new way of manufacturing called mass production, advancements in technology, the supply chain and most of all changes in lifestyle. Ford’s personal motto, “Help the Other Fellow”, affected his goals, work environment and the corporate strategy of the Ford Motor Company. Today’s Ford embraces all of Henry Ford’s beliefs into its current corporate strategy. Ford is known for building the everyday man’s car focusing on reliability and quality. Ford is now a leader in innovation in the automobile industry right next to BMW. Energy efficient efforts, future safety features and technology advancements are all what makes Ford, Ford; however, the cars are not all that have made Ford into the global enterprise it is today. Its’ constant effort into driving community through the Ford Motor Company Fund and Community Services is only one way Ford displays its involvement and values for a safe and healthy...
Words: 13520 - Pages: 55
