Free Essay

Most Significant Events

In:

Submitted By bjmonij
Words 2354
Pages 10
Most Significant Events

By

Bryon W. Neubauer Jr.

University of Phoenix - Axia College

Introduction

The purpose of this paper is to inform you of the different events over the past five decades that changed the world that we live in today. Some of the events were good and some were bad. The people of the United States have seen and been through numerous of changes and wars. The U.S. has seen presidents come and go that has either helped us or have hurt us in some way or another. In this paper I will try to explain some of those events.

People wonder why historical things happen and why it is important to learn about them. Although we do not have an exact answer down to an exact science, we have come to notice that past events have or may have happened has an impact on future events. Ever since the 1950’s all the way through 1990’s, numerous events have happened. Many of those events were social, economic and political related. Almost of all of these events throughout the 1950’s through the 1990’s have impacted how our world is today. Throughout the past five decades and all the historical events that have taken place has had some kind of effect on the way our world is today and future events that has yet to happen.

The Korean War – 1950’s

During the 1950’s significant social, economic and political events had occurred. The biggest events that happen during this time were the Korean War. The Korean War began on the early morning of June 25, 1950 and ended on July 27, 1953. The two major parties of this war were North Korea and South Korea. The Korean War started because South Korea refused to hold elections based on the wants and demands of North Korea. In the early morning hours of June 25, 1950, is when North Korea started invading South Korea. Before North Korea invaded South Korea the North took their time in planning their evasion on South Korea. Unfortunately, South Korea was outnumbered not only in manpower but firepower as well.

At the time of North Korea’s invasion of South Korea, the United States had military forces stationed in Japan and since the United States did not like North Koreas plans, the U.S. decided to aid South Korea to help avoid the spread of communism into South Korea.

Now with the aid from the United States, South Korea was able to intimidate North Korea. In October of 1950, the U.S. military crossed into North Korea and took over 135,000 prisoners of war this decreased the number of soldiers of the North Korean Army. Around the same time the U.S. was aiding South Korea China began aiding and supplying North Korea with their war needs. The United States tried bombing the supply routes that North Korea was using to receive these supplies from China, in turn causing China to intervene in the war.

After three years of fighting and the loss of many soldiers from all parties involved neither North Korea nor South Korea had won the war and decided to sign a cease fire agreement to bring some peace to both countries. Till this day the Korean War has not officially ended.

John F. Kennedy – 1960’s

In 1960, a senator named John F. Kennedy ran and became the youngest president of the United States. One of the first things President Kennedy did when he go into office was start his new “New Frontier Plan” to get the U.S. economy back on track. President Kennedy’s most successful and memorable program was a program that sent volunteers to other countries when they are in need of some help. This program was called the United States Peace Corps.

When President Kennedy was in office, he accomplished many things. One of these was putting a man on the moon. President Kennedy felt that since the Soviet Union was the first country to put a man in space, that United States would be the first country to put a man on the moon. The “New Frontier” in which President Kennedy spoke of promises to improve education, medical help for the elderly, and the involvement of the government to stop the recession.

With everything that President Kennedy was trying to do to improve the U.S... There was a problem happening in Cuba known as the Cubin missile crisis. The Cubin missile crisis started because the Soviet Union was placing nuclear missiles on Cuba and President Kennedy considered this a threat to the U.S... After meeting with the leader of the Soviet Union at that time President Kennedy agreed to take U.S. missiles out of Turkey, if the Soviet Union would take their missiles out of Cuba. Eventually, both countries agreed to remove their missiles from those countries.

In November of 1963, while on a political trip to Dallas, Texas, Lee Harvey Oswald assassinated President Kennedy while riding in a vehicle with his wife and the governor of Texas. Lee Harvey Oswald was arrested for the assassination of President Kennedy, but was shot and killed two days later. Even with President Kennedy’s killer dead, Vice President Lyndon B. Johnson now president after Kennedy’s death still had President Kennedy’s death investigated. While President Kennedy was in office, I believe he made good choices for his country. The Peace Corps as well as his belief in the space programs were great and both still continue to be a great asset to the United States.

New Federalism – 1970’s

In 1969 President Richard Nixon was elected President of the United States and like many presidents before him; he had some great ideas for the U.S. as well as some bad ones. In 1972, President Nixon began the “New Federalism” idea. It was basically a fancy name for revenue sharing and the control of federal spending after it was dispersed. When federal funds were dispersed, the funds were used in different ways depending on the city and the size of it. The larger cities used the funds to maintain their operations when the smaller cities used the funds to start programs. Basically, “New Federalism” is when the U.S. government shared the money from income taxes with the state and local governments, which helped these cities to continue to run smoothly or produce programs that would help their communities. I believe this had a positive impact on the state and local governments and proved that the U.S. government was not all for the taking.

Fall of Communism – 1980’s

For many years, communism has been a problem in the Soviet Union and many realized that communism was not working so well for the Soviet Union. Since the United States was against communism, the U.S. wanted to help put an end to communism once and for all. During the 1980’s President Ronald Reagan was in office, while Mikhail Gorbachev was the leader of the Soviet Union. Mr. Gorbachev tried to reform the Soviet Union to be more democratic but failed.

In 1987, President Reagan and Mr. Gorbachev signed the Intermediate Range Nuclear Forces Treaty, which would eliminate the use of nuclear missiles. The signing of that treaty was the first time those two leaders had worked together and since it went so well they decided to work together to end communism.

In December of 1988, Mr. Gorbachev gave a speech of a New World Order. A short time after his speech, Mr. Gorbachev began to build up the Soviet Union’s cold war legacy by sending troops to other countries. This ultimately led to the demise of the Soviet Union and some of their powerful communist leaders. Within one year of the demise of the Soviet Union, Mr. Gorbachev ordered the Berlin wall to be torn down as a sign to the end of communism. Since the Berlin wall was a symbol of Communist oppression for so many years the people of the former Soviet Union seemed happy and felt they had more rights but was still afraid of what might happen to them if they exercised those rights.

Immigration into the U.S.– 1990’s

When the Immigration Act came to be in 1965, it did not have an effect on anything until the 1990’s, when more immigrants started migrating to the United States, that’s when the U.S. started feeling the impact. When the immigrants got here to the U.S. they were able to work but were not required to pay income or any state and local taxes. This would eventually have a negative effect on the U.S. economy.

A large portion of immigrants came to the United States 1996 and still continues till this day. Many immigrants that are here illegally have been here for so long and living off the American tax payers for example healthcare, taking jobs for less pay than a U.S. citizen, and not paying taxes has hurt the U.S. economy. Immigration can cause problems for countries economically and cause problems not only between other countries but their citizens as well. When the U.S. government decided to crack down on illegal aliens coming into the United States it did more harm than good. Many illegal alien started stealing and committing other crimes, like drug dealing, even as far as identity theft in order to be able to stay in the United States.

For the immigrants that come the U.S. legally to live as regular citizens and find and pay taxes like the rest of us, then that is terrific. It is the ones that have migrate here illegally and have no desire to find legal work and pay taxes or to live off of the work of others that needs to get sent back to their country and go through the proper legal channels to come back to the U.S. as legal citizens. I believe that the ones who came to the U.S. and were allowed so much freedom, has played a big role to some of the economic destruction that U.S. is still currently in.

In closing, there have been significant amount events from the 1950’s through the 1990’s that has helped or has hurt our country. Some of which is still practiced by current presidents. I believe that many events from the past have been both for the good and the bad for the United States.

Past, current and future Presidents will each leaving some mark on the history of the United States some being good or bad or maybe even both. We as U.S. citizens who vote on who is going to lead this country has to accept the choices that our elected leaders have made, because when we elected them we hoped and believed that they would lead us to prosperity even along the way they had made some wrong choices. It does not matter who the candidates are there is always going to be something about each candidate that you do not like and I have not seen or heard a presidential candidate that says they will do or even try to do everything that we want done.

Over the next ten years if our economy does not improve I believe we are going to see more companies close their doors and more and more people becoming unemployed. With more people unemployed will causes less dollars being put back into the economy, which will also cause companies to close their doors because they cannot afford to keep them open. Because of past events like the “Great Depression” I believe that we are able pull ourselves out of this recession over time like we have in the past. I believe even though our economy is struggling we will continue to see an increase in the number of immigrants coming into the U.S. to try and make a better living for themselves and their families for it is human nature to want to do so.

I would also like to believe that as a global community effort that over the next ten years we will be able to rely on other fuel sources that are renewable and non toxic to the planet so we can stop or at least slow down global warming. I believe that we as a global community all want to live better lives and make sure that our children’s children can have a safe life and live free of war and pollution so they can live a long and healthy life. Although it is unpredictable where we will end up in ten years I believe and hope it will be better than where we are right now.

References

Armistice ends the Korean war. (2010). The Hisory Channel website. Retrieved. May 28, 2010.

From. http://www.history.com/this-day-in-history/armistice-ends-the-korean-war

Camarota, S.A.(2001). Immigrants in the United States 2000. A Snapshot of America's Foreign-

Born Population. Retrieved May 10, 2010

From. http://www.cis.org/articles/2001/back101.html

Cuban missile crisis. (2010) The History Channel website. Retrieved. May 15, 2010.

From. http://www.history.com/topics/cuban-missile-crisis

Illegal immigration to the United States. (n.d) Wikipedia, The Free Encyclopedia.

Retrieved. May 07, 2010. From.

http://en.wikipedia.org/w/index.php?title=Illegal_immigration_to_the_United_States&oldid=222124425

John F. Kennedy. (2010). The History Channel website. Retrieved on. May 29, 2010.

From. http://www.history.com/topics/john-f-kenedy

Korean War. (2010). The History Channel website. Retrieved May 28, 2010,

From. http://www.history.com/topics/korean-war

New Federalism. (2010). Wikipedia, The Free Encyclopedia. Retrieved May 07, 2010

From. http://en.wikipedia.org/wiki/New_Federalism

Richard Nixon. (2010). The history Vhannel website. Retrieved May 14, 2010

From. http://www.history.com/topics/richard-m-nixon

Revolutions of 1989. Wikipedia, The Free Encyclopedia. Retrieved May 14, 2010 from

http://en.wikipedia.org/w/index.php?title=Revolutions_of_1989&oldid=221658020

US-Soviet Summit in Washington, DC. (2007). Making the History of 1989, Item #87.

Retrieved. May 07, 2010.

from http://chnm.gmu.edu/1989/items/show/87

Similar Documents

Free Essay

The Most Significant Events

...The Most Significant Events Mary Wright University of Phoenix The American Experience Since 1945 HIS/135 Gladys Vint 11/20/2011 Following World War II there have been many social, economic, and political events that have taken place during this decade. Different people may have various opinions of what event had the most impact or effect on the American people than other events within the same decade. I will attempt to explain the events that I believe are the most significant events of this era. 1950’s Civil Rights Movement The Civil Rights Movement began in the late 1940’s and extended throughout the late 60’s. Many people can recall some of the key events that took place during this time. For example, we all remember reading about Ruby Bridges, Martin Luther King Jr, Rosa Parks, and Malcolm X, and many others that played an important role in the Civil Rights movement. However, Ruby Bridges is the small 6 year old little girl that comes to mind when I think of the beginning of the Civil Rights movement. This young brave little girl was escorted on her first day to school by U.S. Marshalls, as her parents stood close by. She endured being called names and threatened and feared being poisoned if she ate anything besides a packaged bag of potato chips (Davidson, Gienapp, Heymann, Lytle & Stoff, 2006). Ruby was the only students for several weeks until white students finally began coming back to school during the first year since the segregation of the...

Words: 1979 - Pages: 8

Premium Essay

Freedom And Liberty: The Revolutionary War

...Freedom and Liberty Although our nation’s history is made up of an endless amount of significant events, unarguably one of the most influential events was the American Revolution. The kingdom of Britain ruled by King George the third had control of thirteen colonies located on the North American continent. Being tired of unjust treatment, people of the British thirteen colonies decided it was time to not only fight for their human rights but it was also time to forever escape England’s control. With courage and pride, the colonists defended what they believed in and showed everyone worldwide that there will soon be a new great global power. The causes, battles, and effects of the Revolutionary war is what made this event so historically...

Words: 1241 - Pages: 5

Premium Essay

History

...How important were the events of Little Rock high school? Use sources 1-15 as evidence. In this particular essay I will be talking about the importance of the events of Little Rock high school. The events of Little Rock are about nine African-American students that were the first black children to attend a white school in American history. Therefore this occasion was a big deal. For some it was good, however for some it was not so good. For majority of the white people in the USA, this occasion was not so brilliant because they absolutely despised the idea of black people joining an all-white school which has been desegregated by the law. This is because of the court case named Brown vs The Board of Education. Carrying on, when the nine black students were entering the school, or trying to enter the school, the white people had created a very large mob and insulted, spat on and harassed the students. Even the schools security guard was not letting the nine students enter. Due to this president Eisenhower sent in 1000 paratroopers to protect the students while going inside the school. This showed that the president was very determined to stop segregation in America. Moreover In my opinion I believe that the events of Little Rock were not the most significant event towards the civil rights campaign. In this piece of writing I will be talking about how: Brown vs The Board of Education; the role of the presidents; Martin Luther King and the Montgomery bus boycotts were all more important...

Words: 1896 - Pages: 8

Premium Essay

Essay On The Reichstag Fire

...During the years of Hitler’s consolidation of power, numerous events made it easier for his political goals to be achieved, one of them was the Reichstag Fire of November 1933. For some historians, the Fire is seen as the preeminent occurrence for the Nazis consolidation of power, others argue the importance of other crucial events. This coursework thesis will investigate to what degree the burning of the Reichstag and the associated Decree for the Protection of the People and the State’.could be considered the deciding moment when Hitler consolidated Nazi authoritarian dictatorial power. This thesis is based on the decision of the Naizis to use the burning of the Reichstag as a launching pad to eliminate their perennial rivals, the communist. As compared and contrasted with other events such as the Depression, the Chancellorship, ‘Night of the Long Knives’, the Enabling Act and the overall failures of the Weimar Republic. The Reichstag Fire had an extreme impact upon Hitler’s consolidation to power as it allowed the Nazis to confirm that the international doctrine of, Bolshevism, controlled by the aspirations of the USSR were attempting to seize power over Germany, and the world. Thus Bolshevism were not only attempting to seize power over Germany but the world. In...

Words: 1649 - Pages: 7

Premium Essay

Significant Life Events

...Supporting significant life events Introduction The social change such as passing away of a loved one makes a lot of impact on the behavior and the individuals, especially when they are aged or disabled. The case study points out to an elderly lady, who is mentally disadvantaged and the impact of the passing away of her spouse of 40 years. In this short reflection, we are going to assess the Physical, Psychological and Social Impact of Bereavement on Individuals, look at the different group responses to the bereavement of individuals and the impact and implication of the people in health and social care when an individual is bereaved. 1.1 Explain the impact of significant life events on individuals. Bereavement is the condition of having being deprived of something or someone valued, especially through death. The individual feels yearning, pining and longing for the one who has died. The bereaved feels empty inside. It can greatly impact the way in which a person deals with events in later stages of life. We also call it grief. One of the biggest reasons of grief in humans is the loss of loved ones. The grief can have multifaceted effects on physical, psychological and social behavior of the people. When grief overpowers an individual, he can be adversely affected in various ways. If an individual hears the news of loss of loved ones, this shock causes the adrenal system to release adrenaline steroids in body causing a variety of physical reactions. It can cause...

Words: 3059 - Pages: 13

Premium Essay

Financial Analysis

...Most Significant Events 2 From the beginning of time, history has written the effect of social, economic and political events that were experienced by people from around the world. In this case I have been assigned with selecting one social, economic or political event that I believe was the most significant event following World War II and had a more powerful effect on the American people. The social or shall I state political event that I will be discussing is on Rosa Parks and her fight for civil right. Civil Right Movement The event that I have chosen started in the 1950’s, approximately in1955 when Rosa Parks boarded a bus in Montgomery, Alabama and refused to give up her seat to a Caucasian individual sparking a civil rights movement that was experienced around the U.S. I find this to be a more powerful event above others events in the 1960’s, 70’s, 80’s and 90’s do to the fact that this changed many laws and brought the American people together in hopes for change. As Rosa Parks entered the bus and found her seat, a Caucasian individual eventually boarded the bus and tried to practice the racial rights given to him by then Montgomery, Alabama leadership. In the 1950’s the Law stated that Blacks were to sit in the back of the bus or in the event that the middle seats were not taking up by whites already. The African American individual would be required by law to give up their seat. This...

Words: 1146 - Pages: 5

Premium Essay

Stock Prices of Insurance Industry's Reflection to Hurricane Katrina

...effects of Hurricane Katrina, one of the most deadly and destructive natural disasters to occur in the United States, on stock prices in insurance industry. It hypothesizes that insurance providers who offer services in the areas affected by Hurricane Katrina should incur a loss in the market-price of their stock following the natural disaster. This event study analyzed fifteen publicly-traded major insurance providers and the risk-adjusted rate of return on their stock before and after the date of dissipation of the hurricane, observed as August 30th, 2005. Results show stock returns, although dropping slightly after Hurricane Katrina, not having any measurable negative effect as a result of the storm. These results support the efficient market theory, as the insurance industry did not have any adverse effect from the devastation of Hurricane Katrina, allowing for no opportunity for abnormal return or avoidance of a loss. Appropriate statistical tests for significance conducted in this study show that Hurricane Katrina had no significant impact on the risk adjusted rate of return on selected insurance industry stock prices over the event study period. INTRODUCTION AND BACKGROUND Natural disasters have an opportunity to affect the stock market, but how soon subsequently to such events does the market react? Is it possible to avoid a capital loss by selling an insurance industry stock prior to such an event? The purpose of this event study is to test the market efficiency...

Words: 2258 - Pages: 10

Premium Essay

Significant Health Care Event

...Significant Health Care Event University of Phoenix HCS/531 Martha Owen 1/28/13 Significant Health Care Event Health care has been influenced by numerous significant events throughout history. These events have helped change and shape health care in efforts to improve it, and to fit in with the current needs of the population. Some of the influences include society, culture, finance, religion, politics, technology, health trends, the environment, and population (Shi & Singh, 2012, p. 9). This paper will discuss a significant event that has changed or affected health care today, explain how the historical evolution of health care was impacted, and assess the significant event based on personal values and beliefs. Significant Event’s Relation to Health Care Excessive litigation is one of the significant events affecting health care today. Litigation has become so popular that it has become specialized. Advertisements for litigations against health care facilities and professionals are placed on television, radios, Internet, and other information outlets, at frequent intervals. It is not unexpected to see or hear several of them throughout the day. Law firms have become specialized in trying health care related cases and focus on specific conditions. The result is that health care facilities close because of the financial burden of payments resulting from litigations, the amount paid for malpractice insurance rises, insurance premiums rise, and costs of health care...

Words: 971 - Pages: 4

Premium Essay

Differences Between To Kill A Mockingbird Book And Movie

...There are many differences between the To Kill A Mockingbird movie and book. Often books and movies are similar, however there are many key differences between the book and the movie. Some of those differences include how important events happened, the order of the book, and how different things happened. First, in the movie Jem and Scout do not see Mr. Nathan Radley cement up the old tree. I believe this is one of the most significant events in the book because it shows Jem maturing. It also shows some of Jem’s innocence. A key example of this is when Jem finds out Nathan filled it up just to cut off Jem and Scouts friendship with Boo Radley. Jem starts crying and it shows his innocence. “He stood there until nightfall, and I waited for him....

Words: 459 - Pages: 2

Premium Essay

Sacred Rac Worksheet

...factors make us bias towards one side. A good historian understands this. When trying to study the past, historians remain objective, and consider all of their options, sides, and perspectives. To truly understand and achieve this, they must look at multiple different primary or secondary sources when studying the same event. If a historian was studying, for example, South Carolina breaking away from the Union, a southerner’s perspective on the event would be much, much different than a Northerner’s. He would have to study different sources....

Words: 479 - Pages: 2

Free Essay

Event Planning

...Event Planning – Questions To Answer Before You Begini 1. Do you have clear goals for staging a special event? Is the purpose to raise money? Assuming one of your purposes is to raise funds, it is important to determine when the funds are needed and what your financial net goal is. The strategy to raise significant dollars will be considerably different than one to generate a few hundred dollars. As a basic rule of thumb, match the event to your financial needs and timeline. Is the purpose to generate new donor prospects or volunteers? In most successful fundraising events, one of the goals is to attract new volunteers and money to support the organization. Otherwise you may be redirecting money previously given to the organization through other avenues and overtaxing current volunteers. Is the purpose to increase public awareness of your organization? If you want to increase the visibility of the organization, the event should be held where many people are exposed to the name and mission of your organization and great efforts should be aimed at good media coverage. Is the purpose to bring attention to your cause or mission? Too often the population served by the organization is confused with the audience for an event. Although the two should be compatible with regards to the basic values of the organization, the audience of your event may be significantly different than the clients you serve. David Nelson, author of Getting the Payoff from Special Events, distinguishes between...

Words: 2482 - Pages: 10

Premium Essay

Health Care Event

...Grading Criteria Significant Health Care Event Paper This assignment is due in Week One. |Content |Points |Points |Additional | |60 Percent |Available |Earned |Comments: | | |6 |X/6 | | |Paper discusses a significant event or aspect that has changed or affected health care today | | |  | |and includes the following: | | | | |How does this significant event relate to the changes on health care? | | | | |In your opinion, has this event impacted the historical evolution of health care? If so, how?| | | | |If not, could it? | | | | |Do you personally agree with the event’s significance, based on your beliefs and values? How | | | | |so? | | | ...

Words: 1563 - Pages: 7

Premium Essay

Indian Nationalism

...its empire in the period 1845-1947. Such as the influence of key individuals including Gandhi, Jinnah and Nehru. The effects of both the First and Second World War on Britain which included its political situation and economy which was in turmoil due to the war. International pressure from countries such as the US whom Britain became reliant on during and after WW2. The consequences of key events such as the Indian mutiny and the Amritsar massacre which both brought about new policies and changed the way the country was governed. Nationalism was the most important factor in the period 1845-1947 in changing Britain’s relationship with its empire in India, as some of the factors listed above such as the Indian mutiny, and the support of key individuals were a result of nationalism. The Indian mutiny was very significant in changing Britain’s relationship with its empire in India in the period 1845-1947 to a great extent. Nationalism was the leading cause behind the mutiny as the British failed to realise the importance of Indian culture and religion. The mutiny was one of the first notable events that lead to a change in the relationship of Britain and India as it brought about great change in the way India was governed. The mutiny was caused due to ‘…political grievance and religious fears.’The British planned to annex princely states which led to many people losing jobs. Leading to the antagonisation of the Indian people as they would lose their source of income having a bad effect...

Words: 2203 - Pages: 9

Premium Essay

Finance

...In accounting approach, this repost will choose quick ratio, asset turnover ratio, D/E ratio, D/A ratio, ROA and ROE. In stock market approach, abnormal return and cumulative abnormal return are used to the bank performance in pre-merger and post-merger. Firstly, Quick ratio is used by this report, because the quick ratio is used to measure the ability of the firm to pay back its short-term liability with its liquid assets (Linda, 2008). If quick ratio is higher, the better condition of the company is indicated. Hence, in bank merger, if quick ratio of the combine bank is higher than acquiring-bank’s, it indicates that the position of the new combined bank has better position, and vice versa. Secondly, asset turnover ratio is used to measure the amount of sales generated for each dollar’s worth of assets (Steven, 2007). The higher asset ratio indicates that the company has better position. Hence, in bank merger, if the combined bank has higher asset turnover ratio than acquiring-bank, the combined bank has the better position in sales generating for a dollar’s worth of assets, and vice versa. Thirdly, D/E ratio is used to measure a firm’s financial leverage and it reports the proportion between equity and debt which the firm used its assets to finance (Linda, 2008). A high D/E ratio reports that the company has aggressive in financing and use those financing to its growth. Hence, in bank merger, if the combined bank has higher D/E ratio than the acquiring-bank, the combined...

Words: 3169 - Pages: 13

Free Essay

Ethics

...Department of Finance, School of Business, University of Central Florida, USA Received 16 June 2003; received in revised form 23 December 2003; accepted 27 July 2004 Available online 26 November 2004 Abstract On July 19, 2002 WorldCom sought protection from its creditors when it filed for Chapter 11 bankruptcy, earning the distinction as the largest bankruptcy filing in U.S. history. The events surrounding this history-making occurrence provide an important opportunity to examine the repercussions for WorldCom’s stakeholders. We especially focus on the valuation effects of the WorldCom failure on exposed financial institutions for their important monitoring roles as institutional investors and creditors. Despite the heightened uncertainty facing investors during this period, we find that the market is remarkably efficient in distinguishing among the various types of stakeholders. In particular, institutional investors and creditors are largely unaffected by the events, which is expected based on the benefit of diversification. In contrast, large and key competitors are adversely affected by the events, which may be attributed to scrutiny of rivals that are perceived to be facing similar problems. Furthermore, for large and key competitors, these results indicate that contagion effects dominate competitive effects. © 2004 Published by Board of Trustees of the University of Illinois. JEL classification: G33; G14 Keywords: WorldCom; Bankruptcy; Contagion; Institutional investors; Creditors;...

Words: 8815 - Pages: 36