...Corporate Governance Code ----------------------------------------------------------------------------- A corporate governance brief report on Germany, Central Europe and the Nordic-Countries. Development of Corporate Governance in Germany German finance was bank-driven and universal banking was the norm (Gerschenkron 1962). Banks extended loans and credits, provided bridging finance, facilitated the transfer of ownership and participated in corporate governance through both the exercise of shareholders’ proxy votes and direct equity holdings. Despite the existence of these broad capacities, strong bank participation in corporate governance was a dominant feature of the German landscape only during the first few decades after World War II and began to weaken in the 1990s. Germany’s traditionally insider-dominated corporate governance system has undergone substantial reforms since the early 1990s. These resulted in a “hybrid system,” Complementing the traditional stakeholder-oriented system with important elements of the shareholder-oriented system. As a result, the control of outsiders, especially minority Shareholders, has increased and insider control has been reined in. Moreover, these reforms fostered flexibility and promoted competition between corporate governance structures, especially for public companies operating under the SE statute. German law mandates a two-tier board structure, made up of a “supervisory board” and a “managerial board.” In companies with...
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...Soc. 403 May, 8, 2012 Shock Doctrine Through history wars and natural disasters have been part of the adversities humanity has suffered. Mankind has managed to get ahead with theses adversities but it becomes hard to believe where blood, and pain takes place others can get benefits from death. Where some fight for a better equal society others are expecting to spend a disgrace to make money from it. In the book “The Shock Doctrine” by Naomi Klein, critiques how free market is dominating the world through the exploitation of disaster-shocked people and countries. America has become a corporatist state using the element of shock treatment among citizens. The term “disaster capitalism” first pointed out in the book by economist Milton Friedman claims that “whenever government have imposed sweeping free-market programs, the all-at-once shock treatment or shock therapy has been the method of choice” (8). Friedman observed only a crisis actual or perceived produces real change and the new fundamental change was a permanent reform. The reason is simple capitalism has always needed disasters to advance and the prefer method to achieve goals from corporations utilizing a collective trauma engage in radical social and economic engineering. The shock therapy has helped America to become a corporative state where free market makes everything, it is the ultimate goal but hand with hand privatizing is what leads to corporations to a better success without of these disasters...
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...1) A. Privatization of Jails: Based on my research, the evidence is that the private sector delivers quality correctional services at lower cost to the benefit of taxpayers. Because the taxpayer wants to hold down the spending in corrections, and because prisoners need a place to be jailed and remained jailed, I support the privatization of jails. Pros: • Privatization lends itself for prisons to be run at lower costs. • Privatize prisons don’t have the red tape to cut through, therefore they run more efficiently. • Privatized prisons have a reason to make sure that prisoners get the help that they need which leads to better recidivism Cons: • Transparency into prison life is not guaranteed. • Could result in higher cost depending on contracted agreements for prison needs • Living conditions could be compromised B. Privatization of Public...
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...Corrections Accreditation and Privatization Hope Washington CJS/230 Introduction to Corrections June 2, 2013 John Feltgen An accreditation program has long been recognized as a means of maintaining the highest standards of professionalism. Accreditation is the certification by an independent reviewing authority that an entity has met specific requirements and prescribed standards. Schools, universities, and hospitals are some of the most well- known organizations that are required to maintain accreditation. Facilities that undertake the challenge of seeking accreditation reap many benefits, especially when they ultimately achieve accreditation. Staff training and development are mandated under the standards and usually far exceed training requirements in place in unaccredited facilities. Preparation for an accreditation audit requires a comprehensive internal review of institutional programs and services, followed by an objective assessment by the ACA auditing team. This process often reveals the need for improvement in some programs and services, while identifying those that work well. Medical services, food service, and "quality of life issues" such as the extent of institutional violence, the fairness disciplinary and grievance procedures, and overall quality of life for staff and offenders are key considerations. The process also helps to identify the need for operational improvements and provides clear criteria for measuring progress. Often, such intensive scrutiny of a...
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...As with all things, a person’s views on issues is based on their perspective, what they will gain or lose from a given situation. My perspective is one of a worker and social activist, which means I can speak to one side of the issue much better than the other. All of the items listed, jails, public schools, war-fighting, and state employment agencies, have a couple basic advantages which are the appearance of cost savings (I say appearance because in the long run I do not think and monies are saved, in fact I would submit monies are lost due to the cost to society), and the shunning of responsibility. To list the disadvantages in order, starting with jail. When a private company runs a jail, their goal is to make as much money as possible...
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...impacting the industry • Discuss the new breed of airlines • Discuss why airlines fail and how to achieve success Background Section 3 Stages of Development Impacting the Airline Industry • • • • Regulation Liberalization Deregulation “Re-regulation” Phases of Industry Restructuring (resulting from Deregulation / Liberalization) • Expansion • Consolidation • Concentration Past, Present and Future Trends The Global Airline Industry 2012 2010 2008 Time 2006 2004 2002 2000 1998 Survive Adapt Recover Rethink State of Industry “Scenarios” • • • • • SARS 9/11 War Financial Crisis of 2008, 2009, 2010… What to prepare for… – – – – Globalization Change in international political landscape Distribution of natural resources (oil, gas, water) Internal conflicts (shifts in power) and unintended consequences and unintended consequences of good intentions Public and international perception War Terrorism Continued financial issues – – – – Top 5 Frustrations in Aviation 1. 2. 3. 4. 5. Fuel/oil Pollution control Personnel cutbacks Global economic woes Recurring safety lapses Top 3 Costs for Airlines (in any order) 1. Fuel* 2. Labor 3. Maintenance *40% for US airlines in 2009: 13-40% of costs in 7 years Typical Airline Operating Expenses Landing & Associated Airport Charges (4.1%) Depreciation & Amortization (7%)...
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...Journal of Financial Economics 43 (1997) 275-298 Privatization and efficiency: Industry effects of the sale of British Airways Catherine Eckel, Doug Eckel, Vijay SingaP Virginia Pohechuic lrrrliarv (Received ad Apill!?95; Swe Wm. final v&on &c&q. received VA 2UW. July US.4 1996) We analyze the etkt 04 privatization on the performance of British Airways by examining the privatization’s impa on airfares and competitors’ stock priax We find that stodc prim of U.S. annpetil9rs fell a sigoiticant 7% up00 British Airways’ privatb tion. imply@ expectation afa more annpetitive British Airways Closcx rivals d British Aimarn~agcPlcrdrcpinstoclrpiccthanmonctiwntrivakFurthcr. airfares in markets send by British Airways kll sigdcantly upon pcivatizatioo. The results suggest that a change from gov-mamm t to private ownaship improves economic __ -Ker nxmfx IEL Privatization; cfass@ctuionz G32; Ownership; L3k G38; Airlines Eritisb Airways L93 When a firm is privatiz& several factors change ownership changes from the government to private simultaneously. hands. !kcond, Firs4 the the firm’s --.. ._- .--.-l c orqmdmg author. This paper iu.5 bcnditai fran helpful fx3inmmI.s and kalbask from workshop participeDts 81 the Unbwsity d Arizwm, University of North Cardina at Chapel fJill. lad Virginia Pdytbnic Institute and Sate University. We agqxbate the ax~.~ructivc su~kms of Jobn Chahuax Lhvc Dmis Diane Desk. Rob Hansat. Murali Jaganaatban, Greg Kadkc. Dan Lem, Nancy...
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...m------------------------------------------------- Liberalization, Privatization and Globalization in India Overall Rating: [2/5]Total Votes [ 13 ] | Rate this page:12345 | | The economy of India had undergone significant policy shifts in the beginning of the 1990s. This new model of economic reforms is commonly known as the LPG or Liberalization, Privatization and Globalization model. The primary objective of this model was to make the economy of the seventh largest country in the world the fastest developing economy in the globe with capabilities that help it match up with the biggest economies of the world. The chain of reforms that took place with regards to business, manufacturing, and financial industries targeted at lifting the economy of the country to a more proficient level. These economic reforms had influenced the overall economic growth of the country in a significant manner. Liberalization Liberalization refers to the slackening of government regulations. The economic liberalization in India denotes the continuing financial reforms which began since July 24, 1991. Privatization and Globalization Privatization refers to the participation of private entities in businesses and services and transfer of ownership from the public sector (or government) to the private sector as well. Globalization stands for the consolidation of the various economies of the world. ------------------------------------------------- LPG and the Economic Reform...
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...Prison labor is a form of legal slavery or involuntary servitude among prisoners in state penitentiaries. Prison labor is explicitly permitted by the 13th Amendment to the United States Constitution that serves as a punishment for the action of committing a crime (U.S. Const. amend. XIII). Prison labor is the re-enslavement of Americans, that has largely discriminated against African Americans and other minorities. There is legislation associated with the increase of prison populations that has mainly targeted African Americans, including but not limited to mass incarceration through the War on Drugs and the use mandatory minimums. The War on Drugs, implemented by Richard Nixon’s administration, expedited the disproportionate mass incarceration of African Americans and Latinos for mandatory minimums relating to drug-related crimes (drugpolicy.com)....
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...period? Well a report in 2013 “40% held in custody inability to pay bail”…… Jail can do to you actual life what being the marching band can do to your social life, if you are in it for only a little while it can destroy you…simply destroy you…..better use in d.c. judges set bail only if they can afford it, if you can you go home if you can’t you still go home awaiting trial. This is call pre-trial services a recent assessment done by the Admin Office of the U S Courts says it cost a tenth to do supervised pretrial services with officers monitoring the perpetrators, 7.17 compared to 74.61. A new kind of reality…14:14 pretrial services agency. Stakeholders in the privatization of prisons, start with the country and...
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...State versus Private Ownership Andrei Shleifer Department of Economics Harvard University Cambridge, Massachusetts. Abstract Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain costs must be strong. In essence, this is the case for capitalism over socialism, explaining the "dynamic vitality" of free enterprise. The great economists of the 1930s and 1940s failed to see the dangers of socialism in part because they focused on the role of prices under socialism and capitalism, and ignored the enormous importance of ownership as the source of capitalist incentives to innovate. Moreover, many of the concerns that private firms fail to address “social goals” can be addressed through government contracting and regulation, without resort to government ownership. The case for private provision only becomes stronger when competition between suppliers, reputational mechanisms, the possibility of provision by private not-for-profit firms, as well as political patronage and corruption, are brought into play. 1 What kinds of goods and services should be provided by government employees as opposed to private firms? Should government workers make steel and cars in government-owned factories? Should teachers and doctors be publicly employed or should they work for private schools and practices? Should garbage be picked up by civil servants or employees of private garbage haulers? Should the whole economy be "socialized"? Although...
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...ISI Transformation: political changes: Wage increase Improved working conditions Political inclusion in the … Negative of ISI: (characterized by two different stages) Agricultural becomes uncompetitive -exchange rate: money is over-value, the price will be higher than the other countries. Keep the domestic currency strong relative to foreign currencies Need to import capital goods (machinery) to produce consumer goods Overvalued exchange rate made commodity exports artificially expensive and therefore less competitive in the international market - agricultural production and its social consequencs: agricultural production stagnated rural wages declined –migration to the cities migrants resided in urban slums increase in the size of the informal sector Exhaustion of the first stage - limited dynamism 1st stage: production stage : substitution industrialization light industries- the easy phase required little technologies most financed by domestic business 2nd stage: deepening of industrialization required more sophisticated technology and know-how domestic business (main loser) could not finance the second stage multinational corporations were invited to invest in Latin American tensions within populist multi-class coalition Inflation Erodes the purchasing power of currency Affects the poor, who can’t store their wealth in assets that do not lose their value (property) A highly organized and politically mobilized working class demands wage...
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...Social Security Sherese Jones BUS681 Instructor Lori Wieters March 17, 2014 Social Security Every human being is faced with the problem of economic security (Dewitt, 2010). It’s a universal problem that encompasses the way in which an individual or family provides for assurance of income when an individual us either too old, too disables to work, when a family head of household dies, or when a worker faces involuntary unemployment (Dewitt, 2010). Some strategies are mostly individual such as saving and investing. Others rely on help from family members, religious group, unions, or social welfare programs (Dewitt, 2010). Some strategies are mixed with both and with use of various forms of insurance to reduce economic risks (Dewitt, 2010). The concept of insurance is to minimize economic risk by contributing to a fund from which benefits can be paid when and insured individual suffers a loss (Dewitt, 2010). From this social insurance was derived. Social insurance provides a method to address their economic security (Dewitt, 2010). The concept of social insurance is that the individual contributes to a central fund managed by governments and then used to provide income to individuals when they become unable to support themselves thus, creating the U.S. Social Security system (Dewitt, 2010). For this assignment, the concept of social security will be discussed as well as the viability of the program over the next 20 – 30 years and will provide recommendations on how...
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...Privatization, Regulation and Competition in South Asia T. N. Srinivasan* 1. Introduction It is a great honor to be invited to deliver the Mahbub Ul Haq Memorial Lecture. Mahbub finished his graduate studies in economics and left Yale in 1956, a year before I began my own graduate studies there. He had set an exemplary record that those of us from South Asia who followed him at Yale, such as Bashir Karamali, Parvez Hasan, Syed Nawab Hyder Naqvi, Syed Naseem, and myself included, could only envy. In the late seventies, I interacted with Mahbub at the World Bank, where I spent three years at the Development Research Center. I still recall our discussions at the Bank about the Basic Needs Approach to economic development. As the Special Adviser to the UNDP Administrator, he pioneered the concept of Human Development and developed the Human Development Index (HDI). We resumed our discussions, this time on the conceptual and measurement issues related to HDI. Our debates were always friendly, and even though we strongly differed on development strategies, we were united in our belief that eradication of abject poverty and enabling each individual to achieve a fuller and richer life according to his or her own lights have to be the overarching objectives of any development strategy. The world of economics, and we in South Asia, lost a beacon of light, and a source of fresh ideas and innovations, when he was snatched away from us. Let me take this opportunity to pay tribute to his wife...
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...For the past 10 years, Turkey has grown its real GDP at about 6% annually. This came after a huge debt crisis in 2001-02, wherein Turkey had to borrow $16 billion more from the IMF and comport with its difficult conditionality. Today, Turkey is a middle-income country in search of an effective development strategy. It tends to run high inflation with a devalued currency, despite massive capital inflows and a huge current account deficit. At home, the government has carefully managed between Islamicization, democracy and secularism. And abroad, it deals with a difficult neighborhood – Syria, Iran, Iraq, Israel (not to mention Russia, Europe and the USA). Prime Minister Erdogan is trying to rewrite the Constitution before 2014, when the next election occurs. 1. What have been the strengths and weaknesses of Turkey’s growth model? 2. What is causing the current account deficit? What can Turkey do about it? 3. What do you make of Islamicization in Turkey? Has it gone too far? Will it? 4. What do you make of the government’s foreign policy – “zero problems with its neighbors”? Country Background: • Land Mass; 97% in Asia 3% in Europe • 8400 Km Coast Line. (Mediterranean & Black Sea) Rivers: Tigris & Euphrates • Population 75 mm growing at 1.2% annually. 99% Moslem of which 30% Kurdish roots • 26% of population under 15 Years. • Economic activity dominated by Services 64%, then Industry 27 % then Agriculture 9% • Informal economy (unregistered) is a substantial...
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