...Under the elite theory, policy results from a group of powerful individuals in business, the military, and government who make decisions that direct the path of government. Through their vast power and influence, along with the resources they have access to, this group - often called the "power elite" - can effectively dictate the main goals for all important government policy making , while at the same time holding a strong control over the mass media and education. The goals of the “power elite” may not always benefit the general public as much they benefit the...
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...Some notes on case study methodology for Action COST project Draft (06-08-08) Salvador Parrado Table of contents CASE STUDIES AND THEIR RATIONALE 1 CASE STUDY DESIGN 2 Research question 2 Research objectives 3 Specification of variables 3 Case selection 3 Describing the variance in variables 3 Formulation of data requirements and general questions 3 CONSIDERATIONS FOR CASE STUDY DESIGN 3 Causal mechanisms and process tracing: clarification notes 3 Typological theory: clarification notes 3 APPENDIX - RESEARCH QUESTIONS FROM COST ACTION PARTICIPANTS 3 LITERATURE 3 CASE STUDIES AND THEIR RATIONALE This note sets some options for discussing a case study methodology for COST Action project -CRIPO. The note is subject to discussion (COST session in Rotterdam 5- September 2008) not only on the methodological aspects to be followed but also on the applied options for COST project. This section is devoted to justify the usefulness of case studies. Those who are already persuaded may skip it. Case studies are helpful in numerous ways. The definition offered by (Seawright and Gerring, 2008 p. 296) is useful: “the intensive (qualitative or quantitative) analysis of a single unit or a small number of units (the cases), where the researcher’s goal is to understand a larger class of similar units (a population of cases). There is thus an inherent problem of inference from the sample...
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...Signaling, and Market-Timing Theories of Capital Structure: a Review Anton Miglo University of Bridgeport 2010 Online at http://mpra.ub.uni-muenchen.de/46691/ MPRA Paper No. 46691, posted 6. May 2013 19:07 UTC The Pecking Order, Trade-off, Signaling, and Market-Timing Theories of Capital Structure: a Review Anton Miglo Associate professor, University of Bridgeport, School of Business, Bridgeport, CT 06604, phone (203) 576-4366, email: amiglo@bridgeport.edu. This version: 2013 Initial version: 2010 Abstract. This paper surveys 4 major capital structure theories: trade-off, pecking order, signaling and market timing. For each theory, a basic model and its major implications are presented. These implications are compared to the available evidence. This is followed by an overview of pros and cons for each theory. A discussion of major recent papers and suggestions for future research are provided. Introduction The modern theory of capital structure began with and the famous proposition of Modigliani Miller (1958) that described the conditions of capital structure irrelevance. Since then, been changing these conditions to explain factors driving capital many economists have structure decisions. Harris and Raviv (1991) synthesized major theoretical literature in the field, related these to the known empirical evidence, and suggested promising avenues for future research. They argued that asymmetric information theories of capital structure are less...
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...to understand and clarify what makes each individual unique and different from everyone. Several personality theories were born in the course of time, two of those theories of personality are called psychoanalytical and humanistic theories. This paper will further explain each of them, their strengths and limitations, their assumption, amongst other crucial factors for each approach. Psychodynamic Theories Various psychologists contributed to the formation of psychodynamic theories of personality including Carl Jung, Alfred Adler, Karen Horney, Melanie Klein, Harry S. Sullivan, along with others, yet one of the most influential psychologists in psychodynamic theories was Sigmund Freud. While Freud’s theories were later changed or dismissed, his ideas and research were used by many others and have greatly influenced society as it is currently known; moreover his psychoanalytic theory was the original and primary psychodynamic theory which was adjusted by some of his followers previously mentioned. According to McLeod (2007), the psychodynamic approach see human functioning based upon the interaction of drives and forces within the person, particularly unconscious, and between the different structures of the personality. Basic and Underlying Assumptions There are specific principles and beliefs in which each personality theory is based on. The psychodynamic theory assumes that human behavior and feelings are vigorously...
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...Book Review Wilson, J, Q. (1989). Bureaucracy: What Government Agencies Do and Why They Do It. New York: Basic Books. pp 433. Introduction: This book about bureaucracy gained much attention in the field of public administration. Along within the field of bureaucracy this book was able to become the center of interest for general public as well. This is a valuable book. The book is very informative as it caters vast group of audience i.e. start from a general public to a professional bureaucrat. This book also give an encyclopedic information to the students of management which likely to ask the questions about the government and bureaucracy. As its review of literature is very comprehensive that is why this is the most common book among the readers of content about government agencies. The book is a comprehensive and detailed. Wilson’s book is well written and depicts the real life case studies from federal agencies and government bureaucracy especially in the United States. From the start to the end of the book the author has given the detailed demonstration about the reasons what the government agencies do and why they do that in the way they do. The purpose of this book was to provide a new fresh content about the government bureaucracy along with providing comprehensive knowledge to answer the questions asked by students of public administration. The book was very useful for the audience for which it was written. In my opinion this book is a unique study of bureaucracies...
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...that many individuals, children and families encounter. It was created as a means to help improve the quality of life of the socially disadvantaged by promoting the idea that many cannot meet their basic physical and emotional needs on their own or without assistance from others. Elements of Human Services are also dedicated not only to help people meet their basic needs but to also put them on track to self-sufficiency. Although Human Services encompasses a broad spectrum of practices, we will discuss a more generalized view of this concept in this essay. The goal and history of Human Services, the nature of the generalist practice, theoretical frameworks, common intervention strategies and finally, ethical considerations will all be discussed in this essay. The Goal of Human Services As previously mentioned, Human Services are a means by which the socially disadvantaged can be assisted in meeting their basic physical and emotional needs. Various obstacles keep some from meeting their needs on their own. Some of these obstacles have been created by the individual himself due to bad judgment or decisions. However, more often than not the reasons why people cannot meet their basic needs are due to circumstances beyond their control (Martin, 2007). Human service agencies (also known as social service agencies) are called upon by these individuals when they have encountered these obstacles and they do not have anyone that can help them succeed in circumventing them. These...
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...within the society. DURATION – when the value has been shared and practiced in common for some time. INTENSITY – is if the value involves the emotions and is taken seriously and sought after by many. PRESTIGE OF ITS CARRIER – refers to when the value provides ready-made means for judging the social worth of persons or groups who share or practice it. FILIPINOS ARE COSMOPOLITAN – both oriental and occidental COGNITIVE – something that one’s values should be chosen freely from alternatives after careful thought. AFFECTIVE – a person’s choice is prized and cherished, and the person publicly affirms it. BEHAVIORAL – if one values something, he or she shows this in his or her actions, acts positively about it, and does it habitually. FOUR BASIC FILIPINO VALUES: 1. Emotional closeness and security in a family, 2. Approval from authority and of society, 3. Economic and social betterment, 4. Patience, endurance and suffering. VALUES ADAPTED IN PHILIPPINE CULTURE. 1. Equal opportunity – means that society should provide everyone with the opportunity to be successful. 2. Achievement and success – encouraged by competition so that a person’s rewards reflect his or her personal trait. 3. Material comfort – refers to making money. 4. Activity and work – prefer action to reflection and try to accept hard work than...
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...GM, L&D, let me present the article “Market Timing and Capital Structure” which was published in “The Journal of Finance” by MALCOLM BAKER and JEFFREY WURGLER in 2002. The authors believe that the idea from their work “has not been articulated before”. In this paper, the authors ask how equity market timing affects capital structure. The basic question is whether market timing has a short-run or a long-run impact. One expects at least a mechanical, short-run impact. However, if firms s’ubsequently reb’alance away the influence of market timing financing decisions, as normative capital structure theory recommends, then market timing would have no persistent impact on capital structure. The significance of market timing for capital structure is therefore an empirical issue. The results are consistent with the hypothesis that market timing has large, persistent effects on capital structure. The main finding is that low leverage firms are those that raised funds when their market valuations were high, while high leverage firms are those that raised funds when their market valuations were low. The authors document this in traditional capital structure regression, where leverage is the dependent variable and the market-to-book ratio is the independent variable. The basic regression result is that leverage is strongly negatively related to the historical market valuations. So, the influence of past market valuations on capital structure is economically significant and statistically...
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...means that humans exist not in the physical space composed of realities, but in the "world" composed only of "objects". According to Blumer, the "objects" can be divided into three types: physical objects, social objects, and abstract objects. Both individuals and society cannot be separated far from each other for two reasons. One, being that they are both created through social interaction, and two, one cannot be understood in terms without the other. Behavior is not defined by forces from the environment or inner forces such as drives, or instincts, but rather by a reflective, socially understood meaning of both the internal and external incentives that are currently presented (Meltzer et al., 1975). Herbert Blumer (1969) set out three basic premises of the perspective: "Humans act toward things on the basis of the meanings they ascribe to those things." includes everything that a human being may note in their world, including physical objects, actions and concepts. Essentially, individuals behave towards objects and others based on the personal meanings that the individual has already given these items "The meaning of...
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...piece—article, video, presentation, song, or other—related to the scientific method, creating hypotheses, or designing experiments. Include the link or reference citation for the piece and describe how it helped you better understand how the scientific method is used to create hypotheses and experiments. * * “The Scientific Method Video,” is a unique way to present the scientific method by using rap to emphasize the important points. This includes that the scientific method begins with a question based on an observation, and then a hypothesis and prediction are made, experiments are conducted (which need to be reliable, include a variable and a control), and lastly findings are reported. It has been a long time since I have gone over the basics of the scientific method. This video helped me review what I find so fundamental and second nature. Also, I think it is helpful to note that as the textbook states, “These steps guide scientific investigation, but working scientist typically do not follow them rigidly.” This video is an interesting tool to review the scientific method and how it is viewed by the student rappers. (Brooks & Friebel, 2008) “The Scientific Method Video,” is a unique way to present the scientific method by using rap to emphasize the important points. This includes that the scientific method begins with a question based on an observation, and then a hypothesis and prediction are made, experiments are conducted (which need to be reliable, include a variable...
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...The SURVIVAL RATE OF GRADUATING BSMT STUDENTS IN NAMEI In Partial fulfillment of the subject RESEARCH Of Bachelor of Science in Marine Transportation Researchers March 2014 DEDICATION PAGE THIS THESIS IS DEDICATED TO: GOD! Our Families and Relatives Our Friends And also Ourselves ACKNOWLEDGEMENT TO OUR PARENTS Who understood and supported our ideas and choices, may they never stop on supporting us. We also thank them for the encouragement that they give us. The familial advices that we should never forget along the way to adulthood TO OUR BROTHERS To those of us that have brothers and or sisters, we greatly thank them for any probable help and any assistance. For those plenty times that they have spent with us and how they kept us awake when we did the research. TO OUR SUPPORTIVE RESEARCH ADVISER; Mr. RAZA On the behalf of us researchers we would like to commemorate this thesis as a gift and proving article as a testimony on how much of a great instructor to us, we would like to extend our thanks to you by getting high grades. TO OUR FRIENDS We would not be here without our beloved friends whom accompanied us on trying times and of good times, without them, everyday life would be boring and dull. We thank them for giving our lives a happy one, our memories of you will never dwindle. TO THE MARITIME/GENERAL INSTRUCTORS THAT WE ADMIRE Furthermore...
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...be done. These leaders make decision independently without considering other members opion. Due to this decision-making is less creative under autocratic leadership. For example “Saunders closed the weekly staff meeting by saying I’m the leader of this agency. I have to manage everything for this agency to run effectively”. Secondly, participative leadership style id being used by Josh Martin. This type of leadership is also called democratic leadership style. In this type of leadership, they provide guidance to the members and allow inputs from other group members. In the participative leadership the leaders encourage members to participate but retain the final say over the decision making process. This way the group members feel more engaged, motivated, and creative. For example, “according to Jone and tom though Saunders is director but without Martin, this place would be in total chaos. At least Martin listens to us and tries to implement some of their ideas to make life simple for everyone at the agency. Leadership traits is the theory of studying leadership is taken into consideration to analyze the personal, psychological and physical traits of strong leaders. The assumption made in this theory was that some basic traits or set of traits differentiates leaders from non-leaders. For example, the leadership traits might include intelligence, assertiveness, above average height, self-confidence, initiative and understanding of interpersonal human relations. The existence...
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...3. Corporations practicing stakeholder management will be more sustainable. Discuss. Over the years, social and ethical concerns have brought attention to the community that caused much bitter conflict to the relationship between business and society. As people become better educated and more affluent, rising expectations naturally follow for major institutions and these developed a backdrop against which criticisms towards businesses have grown. Therefore, these created the need for them to assume greater societal responsibilities rather than mere ruthless pursuit of own profits. Many businesses today share the same viewpoint that making profit for profit’s sake no longer leads to sustainable performance, stakeholder management has become an increasingly important aspect of a business’ operation integrating traditional economic considerations with environmental and social concerns (Jones 2012). While doing well and doing good are no longer seen to be mutually exclusive, corporations practicing stakeholder management is highly debated to be sustainable to a large extent. With all the benefits that it brings, this approach however also has its fair share of limitations to be discussed later in this essay. Outlining the term ‘sustainability’ Sustainability is the capacity to endure. One of the best known general definitions about sustainable development was expressed as “meeting the needs of the present without compromising the ability of future generations to meet their...
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...MECHANISMS FOR DEALING WITH SHAREHOLDER-MANAGER CONFLICTS * * AGENCY VERSUS CONTRACT * * FURTHER READING: Agency theory suggests that the firm can be viewed as a nexus of contracts (loosely defined) between resource holders. An agency relationship arises whenever one or more individuals, called principals, hire one or more other individuals, called agents, to perform some service and then delegate decision-making authority to the agents. The primary agency relationships in business are those (1) between stockholders and managers and (2) between debtholders and stockholders. These relationships are not necessarily harmonious; indeed, agency theory is concerned with so-called agency conflicts, or conflicts of interest between agents and principals. This has implications for, among other things, corporate governance and business ethics. When agency occurs it also tends to give rise to agency costs, which are expenses incurred in order to sustain an effective agency relationship (e.g., offering management performance bonuses to encourage managers to act in the shareholders' interests). Accordingly, agency theory has emerged as a dominant model in the financial economics literature, and is widely discussed in business ethics texts. Agency theory in a formal sense originated in the early 1970s, but the concepts behind it have a long and varied history. Among the influences are property-rights theories, organization economics, contract law, and political philosophy, including...
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...However, the catch phrase fair day’s work places the onus on the employee to determine what is a fair day’s work based upon his or her pay. Ginny believes that she is giving a fair days work for a fair days pay and will endeavor to ensure this status quo is maintained as long as there is no one looking over her shoulder. Theory Our economic system is predicated on the belief that those who work hard and apply themselves will be rewarded for their labor by a fair day’s pay. This foundational transaction is often at the core of companies’ belief that to keep employees going, a wage will suffice as a motivator for performance and performance improvement. Studies have however shown that this is rarely the case. Yes, it is true that a wage is the default motivator because money is measurable and fungible, but at best it is only a secondary motivator. Organizations provide rewards to staff with one simple fact in mind, to motivate their performance and encourage their loyalty and retention. As agency theory indicates however, staff and management can view goals, rewards, results, and motivation quite differently to the point of being diametrically opposed. Agency theory postulates that owners use pay and other forms of compensation to have management collaborate on running the organization effectively – from...
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