...responsible for directing the company sustainably. Directing the company means taking and controlling the decisions that have a decisive effect on its soundness and sustainable performance. 3 types of shareholders: speculative, sleeping, active 2. The history of share ownership in continental Europe From 1850 to 1930 : 1/ Company : private sphere * Private property * Family shareholders * Middle age vocabulary 2/ Governance mode: Paternalism * Statistically and ideologically dominant * Scté en commandite par action * Authority legitimacy : Traditional society From 1930 to 1970 1/ Paternalism legitimacy erodes … * 4 constraints: * Demographic * Organisational * Financial * Political 2/ Governance of “experts” * The emergence of technocracy * Marginalization of shareholders * Anonymity * Technocracy self evaluation Since 1970 1/ Mutations and revolutions in the USA a- The increase of the need for financing * Diversification of pension funds * Huge increase pf the capital markets: the capitalization of NY increases from 600 to 17000 billions dollars between 70 and 2000 b- The huge increase of the number of shareholders * Mass saving world wide phenomenon: * about 80 milion direct s c- The implication of Financial institutional intermediaries * Big investors * Emergence of lobby groups * Knowledge is shared : Legitimacy of the manager...
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...or transnational company (TNC). MNC as beauty - Potential contribution to economic growth and national welfare. - Important agent of change. - Increases competitive pressures on domestic firms. - Demonstrates and diffuses new technology. - Upgrades the quality of indigenous resources and capabilities. - Governments (in general) praise FDI. MNC as beast - Negative impact on the environment, labor and human rights. - MNCs’ and national state goals are not always compatible - MNCs out-compete local firms. MNCs have immense political power. 51 of the 100 biggest economies in the world are now MNCs. Business is in the driver’s seat, corporations determine the rules of the game and governments have become referees, only enforcing rules. Are MNCs really agents of technological change? Some scholars question the efficiency of MNCs, suggesting that they have become too large and bureaucratic to compete against more nimble and innovative smaller firms that are rapidly gaining advantage in highly competitive global markets. What is the three primary states of mind / attitudes toward the MBC? Ethnocentric (home-country oriented) - Home nationals are the best person to do the job - What works at home must work in the host country Costs: Fewer Innovations, lack of flexibility and responsiveness Benefits: Simple Organization, greater communication and control Polycentric (host-country oriented) - Foreigners are different and hard to understand. Polycentrism often associated with the MNC because...
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...are turning out to vote? * Voter turnout is a sign of political efficacy as well as engagement * People who are engaged are more informed, more likely to communicate with their representatives, more likely to advocate for their interests, and hold public officials accountable for their actions. Political culture * The people’s collective beliefs and attitudes about government and political processes * What is it that binds us together as Americans? * Our political ideologies * Our political values – liberty, capitalism, equality, consent of the governed, individualism Ideology * Political ideology is an integrated system of ideas or beliefs about political values in general and the role of the government in particular * Ideology provides a framework for thinking about politics and policy preferences Ideologies * Modern liberalism is associated with ideas of liberty and political equality: * Tend to favor chance in social, political and economic realms to better protect individuals and produce equality What is the constitution? * Fundamental principles of a government and the basic structures and procedures Two US Constitutions * Articles of confederation ( 1781-1789) * Constitution of the united states (1789-present) Events leading up to the US constitution * By the 18th century, two-tier system of governance had evolved – local colonial assemblies vs Parliament in Britain * Britain’s involvement in the...
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...The European Union, officially implemented in 1999, created history as the first political and economic integration of its kind. However, in recent news, this union has been undergoing a series of severe economic crisis among member countries. The following paper will look to analyze this issue by examining its main causes, the reasons behind their severe suffering when compared to United States, European nationalism, and the future of international businesses in the case of a Eurozone collapse. Main causes of Eurocrisis The causes of the Eurozone crisis are both numerous and complex creating somewhat of the perfect storm within the member countries’ respective local economies at the start of the downturn. For the purpose of analysis, the main causes of the Eurocrisis can be divided into three main categories: sovereign debt, banking and inflation, as well as politics and labor. The following case will explore these categories in further detail. To begin with, the ratification of the Maastricht treaty, forming the European Union, brought with it two conditions that potential member countries had to meet in order to be able to adopt the Euro currency. Specifically, given the interdependent nature of the agreement, a member state was required to demonstrate economic health. This was measured annually through their maintenance of fiscal deficits under 3% of GDP, and government debt below 60% of GDP (Roscini & Schlefer, 2012, p.1). However, during the years preceding Greece’s...
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...goods, services and capital leads to the integration of economies and societies” Globalisation as a process results in changes for markets and businesses --- expansion of trade in goods and services between countries; transfers of financial capital across national; FDI; multi-national companies; the investments by sovereign wealth funds; internationalisation of products and services; global brands; Shifts in production and consumption; increased labour migration --- The increasing inter-dependence of economies --- for macroeconomic health --- newly industrialising countries: growing share of world trade, growing faster than developed nations Global consistency --- assumes the home country’s personnel and ways of doing things are best Local adaptation --- assumes local managers in host countries know best how to run their own operations Geocentric Attitude A world-oriented view that draws upon the best talent from around the world Cultural Intelligence --- capability to function and manage effectively in culturally diverse settings Managing across cultures --- Each country has its own: laws, business customs, work ethics, workforce characteristics and political climate… effect of globalization --- Create economic of scale; Produce cheap and flexible to meet demands --- weaken of national identity (not much weaken) --- Different society place different value (Intrinsic factors, education, moral standard)...
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...* Literature * Cities * Organized Government * Specialized Labor * Monumental Architecture * Religion 2. Persian Empire – general description, major contributions, means of maintaining empire * Tried to conquer Greece * Maintained Empire through fear 3. Hebrew view of Man, view of God View of God a. One b. Sovereign c. Transcendent d. Good View of Man e. Created by God f. A rule or ethical system g. A choice or moral freedom h. Dignity and autonomy of human beings 4. Persian Wars – who fought, why, who won, how, significance i. Who Fought? i. Persians vs. Greeks j. Why? ii. Fundamental differences, East vs. West iii. Disputed territory in Asia Minor iv. Greece as a stepping-stone to Europe k. Who Won? v. The Greeks l. How? vi. Superior Military Skill m. So What? vii. Persians locked out of Europe forever viii. Athenian Imperialism ix. Delian League – Greek alliance between city states to prevent future attacks from Persia x. Launches them into Athenian Golden Age 5. Sparta –description, major contributions, contrast with Athens * Formed Delian league to fight against Athens * Experienced Land Military while Athens had an Experienced Navy * Athens was focused on cultural expansion while Sparta loved war 6. Cosmologists...
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...International Relations Theory The new edition of International Relations Theory: A critical introduction introduces students to the main theories in international relations. It explains and analyzes each theory, allowing students to understand and critically engage with the myths and assumptions behind each theory. Key features of this textbook include: • discussion of all of the main theories: realism and (neo)realism, idealism and (neo)idealism, liberalism, constructivism, postmodernism, gender, and globalization two new chapters on the “clash of civilizations” and Hardt and Negri’s Empire innovative use of narratives from films that students will be familiar with: Lord of the Flies, Independence Day, Wag the Dog, Fatal Attraction, The Truman Show, East is East, and Memento an accessible and exciting writing style which is well-illustrated with boxed key concepts and guides to further reading. • • • This breakthrough textbook has been designed to unravel the complexities of international relations theory in a way that allows students a clearer idea of how the theories work and the myths that are associated with them. Cynthia Weber is Professor of International Studies at the University of Lancaster. She is the author of several books and numerous articles in the field of international relations. International Relations Theory A critical introduction Second edition Cynthia Weber First published 2001 by Routledge Second edition published 2005 by Routledge...
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... - A sense of control There are number of factors, but probably one of the most important ones in this instance is that, paradoxically, it gives people a sense of control. People hate randomness, they dread the sort of random occurrences that can destroy their lives, so as a mechanism against that dread, it turns out that it’s much easier to believe in a conspiracy. Then you have someone to blame, it’s not just randomness. - Psychological forces (VS evidence-based thinking) Psychological forces like motivated reasoning have long been associated with conspiracy thinking, but scientists are learning more every year. On the other side there is the evidence-based thinking which most of the people who do not believe in these theories have. o Motivated reasoning Motivated reasoning is an emotion-biased decision-making phenomenon - Expand the conspiracy Another common trait is the need to constantly expand the conspiracy as new evidence comes to light. An example of this is the climate change conspiracy theory which states that the climate changes are not true and are made up. This is, as we all know, a topic that has been researched a lot, but the conspiracy theorists means the...
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...Natalia Navarro Comparative Political Economy Analytical Paper #2 November 5, 2015 Question #3 Venezuela vs. Poland In order to understand the reforms that occurred in Venezuela after the 1980’s both politically and economically it is important to study the origin of Bolivarianism. The term Bolivarianism originates after Simón Bolivar, a military and political leader born in Venezuela. Bolivar helped establish many sovereign states from the Spanish rule including Venezuela, Colombia, Bolivia and Peru. Venezuela has a petroleum based economy that allowed the construction of a democratic political regime that was based on a zero-sum framework around the 1960’s. Once the resources started diminishing around the 1980’s through 1990’s the political...
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...Democracy = a political system based on the idea that government should serve the interests of the people. Legitimacy = the extent to which a government has the right to rule and exercise power. Power vs. Authority: * Power= the ability to make someone do something that they would not do of their own free will * E.g - Coercion – the use of force to achieve ends – the military * Authority = the right to exercise power (based on the consent of those being ruled) * E.g - Legal/rational – HOC * E.g – Traditional – HOL Modern democracies have: Political tolerance Peaceful transition of power Free, fair and regular elections The government is accountable to the people The rule of law Freedom of the media Modern democracies have: Political tolerance Peaceful transition of power Free, fair and regular elections The government is accountable to the people The rule of law Freedom of the media What makes a government legitimate? * Referendums (‘Yes’ answers) * High turnout * Free, fair and regular elections * Lack of dissent * Displays of public support How legitimate is the UK? Legitimate | Not legitimate | * House of Commons is elected | * Electoral system unfair and distorts political representation (FPTP) | * Government elected with mandate to govern | * Every government elected has only achieved the minority of the popular vote | * House of Lords has traditional authority and political influence is...
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...1. constitutionalism, constitutional supremacy and the rule of law 1. constitutionalism a. Constitution without constitutionalism? Keith E Whittington, constitutionalism [5] * Constitutionalism = the constraining of government in order to better effectuate the fundamental principles of the political regime. i.e. A system of effective restrains on governmental action. * Constitution (often) = the written document that formalizes the framework of government * => Constitutionalism should be distinguished from the mere possession of a constitution * Written constitutions may provide few effective constraints on government or may be ignored, and governments may be effectively constrained w/o a written constitution (e.g. Britain) * Constitutionalism often (does not mean it necessarily equals to) associated specifically with liberalism, protection of individual rights against the state. * => constitutional state identified not by possession of a constitution but by its effective protection of individual rights. * (but individual rights only one set of fundamental principles that might impose meaningful limits on power of the state) * Constitutionalism also used to constrain power holders to care for the common weal or adhere to particular conceptions of national identity or religious law * 3-fold classification of province of constitutionalism * Normative Constitutionalism (most touched-on area) * Concerned with...
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...#1: Dr. Levitt’s theory of globalization vs. Douglas and Wind’s idiosyncratic theory Dr. Levitt suggests that the world is becoming a single, homogeneous market. Levitt stipulates that global corporations now operate “as if the entire world were a single entity” Levitt, p.13). In this market, all consumer needs and desires have boiled down to a basic want for products and services of the best quality and reliability, at the lowest price (Levitt, p.14). Technology is the catalyst for the development of this global market. Cross-cultural communication has allowed citizens from every country to view products and services offered in other areas, and, in turn, have developed applications for similar products. Levitt goes on to state, “the strategy of standardization not only responds to worldwide homogenized markets bot also expands those markets with aggressive low pricing” (Levitt, p. 16). The market differences presented by Douglas and wind are centered on the uncontrollable elements of international marketing (Cateora, p.11). Douglas and Wind discuss the importance of taking into consideration customer behavior, local competition, political and economic environments, as well as the overall marketing infrastructure of each individual country (Douglas and Winds, p.25). The authors agree that, in limited circumstances, global standardization may be appropriate. Products such as luxury items and industrial goods targeting well-to-do individuals are apt to be successful...
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...countries at about the same stage of advanced economic development. The BRIC countries are ________. A) Belgium, Romania, Italy, and Canada B) Brazil, Russia, India, and China C) Britain, Romania, Israel, and Colombia D) Brazil, Russia, Italy, and Chile Answer: B Diff: 1 Topic: 1.1 The Global Financial Marketplace Skill: Recognition 3) According to the authors, which of the following groups or securities are at the "heart" to the global capital markets? A) debt securities issued by governments B) bank loans and corporate bons C) equity securities D) derivative securities Answer: A Diff: 1 Topic: 1.1 The Global Financial Marketplace Skill: Recognition 4) ________ are the largest markets in the world. A) United States equity markets B) European debt markets C) Global currency markets D) Chinese export markets Answer: C Diff: 1 Topic: 1.1 The Global Financial Marketplace Skill: Recognition 5) Domestic currencies of one country on deposit in a second country are called ________. A) export deposits B) eurocurrencies C) import deposits D) forocurrencies Answer: B Diff: 1 Topic: 1.1 The Global Financial Marketplace Skill: Recognition 6) Eurocurrency deposits are an efficient and...
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...countries at about the same stage of advanced economic development. The BRIC countries are ________. A) Belgium, Romania, Italy, and Canada B) Brazil, Russia, India, and China C) Britain, Romania, Israel, and Colombia D) Brazil, Russia, Italy, and Chile Answer: B Diff: 1 Topic: 1.1 The Global Financial Marketplace Skill: Recognition 3) According to the authors, which of the following groups or securities are at the "heart" to the global capital markets? A) debt securities issued by governments B) bank loans and corporate bons C) equity securities D) derivative securities Answer: A Diff: 1 Topic: 1.1 The Global Financial Marketplace Skill: Recognition 4) ________ are the largest markets in the world. A) United States equity markets B) European debt markets C) Global currency markets D) Chinese export markets Answer: C Diff: 1 Topic: 1.1 The Global Financial Marketplace Skill: Recognition 5) Domestic currencies of one country on deposit in a second country are called ________. A) export deposits B) eurocurrencies C) import deposits D) forocurrencies Answer: B Diff: 1 Topic: 1.1 The Global Financial Marketplace Skill: Recognition 6) Eurocurrency deposits are an efficient and convenient...
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...Will political globalization inevitably follow economic globalization? BY Gonçalo Jóia Martins Student number 12859 Abstract: The essay intends to prove that political globalization and a system of global governance is inevitable. First, it starts by showing how economic globalization led countries to be more dependent on each other than ever. This is demonstrated by the growing cross-border interdependence due to economic trade and also by the proliferation of global players that require global cooperation between nations. Those factors inevitably lead to the necessity of global institutions of governance. The thesis is supported by answering to the Rodrick Trilemma using the influence of important globalization actors like multinational companies that help to shape the society towards a global mentality what will also push for political globalization. I end up concluding that although difficult political globalization is feasible and if taken into account all the factors I mention it will inevitably happen. Submitted to Professor Miguel Homem Ferreira of Tutorial Class TAB29 on 19/03/2015 10 years ago in China Yan Xuetong gave a lecture about globalization to a group of college sophomores for about 3 hours. At the end, before he took questions, he asked to the group of students: “What does globalization mean”? Someone answered "free trade". He laughed, saying that was the typical American answer. He then proceeded to explain that what globalization really means...
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