...including ©notice, is given to the source. Bank Supervision and Corporate Finance Thorsten Beck, Asli Demirgüç-Kunt, and Ross Levine NBER Working Paper No. 9620 April 2003 JEL No. G3, L51, O16, G21 ABSTRACT We examine the impact of bank supervision on the financing obstacles faced by almost 5,000 corporations across 49 countries. We find that firms in countries with strong official supervisory agencies that directly monitor banks tend to face greater financing obstacles. Moreover, powerful official supervision tends to increase firm reliance on special connections and corruption in raising external finance, which is consistent with political/regulatory capture theories. Creating a supervisory agency that is independent of the government and banks mitigates the adverse consequences of powerful supervision. Finally, we find that bank supervisory agencies that force accurate information disclosure by banks...
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...SAARC Drug Offences Monitoring Desk (SDOMD) The SAARC Drug Offences Monitoring Desk (SDOMD) was established in Colombo in 1992. The objectives of the Desk are to collate, analyze and disseminate information on drug related offences in the region. The Workshop on Strengthening the SAARC Drug Offences Monitoring Desk (SDOMD) was held in New Delhi on 23 February 2007. The Meeting discussed at length the matters relating to strengthening SDOMD and made recommendations for further strengthening of SDOMD. The Meeting of Focal Points of SAARC Drug Offences Monitoring Desk (SDOMD) and SAARC Terrorist Offences Monitoring Desk (STOMD) were held on 20 October 2007 in Islamabad. At the Third Meeting of the Focal Points of SAARC Drugs Offences Monitoring Desk (SDOMD), held on 23rd June 2010, Pakistan offered to strengthen the SDOMD Desk located in Colombo, Sri Lanka by making a one time financial/material assistance and the Government of Pakistan offered to prepare a Concept Paper on interaction between SAARC with UNODC (United Nations Office on Drugs and Crime) to be considered by all Member States. Further the Governments of Bangladesh, Pakistan and Sri Lanka offered training courses/programs for the Member States in relevant and important fields related to narcotics and drugs. Realizing the importance of learning from each others experience, the Member States agreed to submit Country Reports on Drug Situations in their respective countries to the SDOMD and also to share...
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...servitude, sexual harassment and abuse, excessive overtime and under compensation. National and International labour standards do exist, the problem is that many countries where global supplier factories are located are either unable or unwilling to enforce labour laws for one reason or another. Thus, because governments in certain countries around the world do not enforce decent labour standards, multi nationals have been able to take advantage of cheap labour without many repercussions. Corporate citizenship or social responsibility has become a very important business practice for many companies. Civil society groups and consumers are now becoming much more adamant on the issue of corporate social responsibility and global fair labour. Multi national corporations, in the past, have been focused only on one objective, profit. With the increased pressure from consumers for business transactions to be more transparent, many companies have been forced to become more corporately responsible with their business practices. Many companies around the world have tried to become socially responsible; they have implemented detailed codes of conduct and factory on-site monitoring as well as factory system auditing which includes a health management and...
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...TABLE OF CONTENT No. | Content | Page | 1. | Introduction | 2 | 2. | Main findings and discussions: * Outcome-Based Budgeting * Objectives of OBB * Importance of OBB * Fundamentals of OBB * Components of OBB * Potential benefits of implementing OBB * Implementation of OBB in other countries | 356671011 | 3. | Conclusions | 12 | 4. | Recommendation | 14 | 5. | References | 15 | 6. | Appendices | | INTRODUCTION Budgeting in the public sector has evolved over the years. After Independence, we started with line-item budgeting that focused on expenditure. Under this approach, ministries and agencies were assessed on their ability to spend the approved allocation within a given year. Moreover, it lacked coordinated planning, performance measurements and systematic evaluation. Subsequently, a more results oriented Programme and Performance Budgeting System (PPBS) was adopted in 1969, where the focus shifted to outputs, with resources allocated for specific programmes and activities based on priorities. Systemic problems, however, continued to persist. There was lack of accountability, while decision making was highly centralized. To address these problems, the PPBS was improved and introduced as the Modified Budgeting System (MBS) in 1990. The system expounded the concept of “let managers manage” and held them accountable for their performance. However, even under this system, the emphasis was still on output, with each ministry and agency focusing...
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...Implementation of the Human Resource Development Strategy for South Africa ANDREW WILLIE BARTLETT 21936048 Mini-dissertation submitted in partial fulfilment of the requirements for the Master’s degree in Development and Management at the Potchefstroom campus of the NorthWest University SUPERVISOR: MS LUNI VERMEULEN 2011 i ACKNOWLEDGEMENTS I wish to hereby express my sincere gratitude and appreciation towards the following persons for their support and assistance throughout this study: My Heavenly Father who blessed me with the opportunity, ability and strength to try to make a difference through this study. My wife, Elaine, without whose support, encouragement and assistance this study would not have been possible. My children, Elandre and Jade, for their support and understanding; may this achievement motivate you in your studies and development. My personal mentor and supervisor, Ms Luni Vermeulen, for her highly professional guidance, motivation, continuous support and patience. To all the respondents at the various institutions for their participation and valuable contributions. Thank you very much for your selfless assistance. ii ABSTRACT In 2001 the first Human Resource Development Strategy of South Africa (HRDSA) was implemented. The lack of institutional arrangements, structures, procedures, processes and capacity and the location of the HRDSA, 2001, at both the then Departments of Education...
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...Drafting an Essay Among all the different technologies in use today, I believe unmanned vehicles have the most promise and beneficiary outcome. Unmanned vehicles are defined as aerial or ground vehicle able to sustain a flight path or guided ground path without the need of onboard crew, human pilot, or driver. Since the first recorded use of an unmanned vehicle for war fighting in 1849 by the Austrians, the technology has proven to be useful in many area such as; wildlife monitoring, agriculture mapping, thermal infrared power line surveys, law enforcement, telecommunications, weather monitoring, aerial imaging/mapping, television news coverage, sporting events, moviemaking, Environmental monitoring, oil and gas exploration, and freight transport. Today we have updated the designs and improved the technology so much and will continue to do so. With the growing use of unmanned vehicles it is predicted it could result in more than 34,000 manufacturing jobs and more than 70,000 new jobs in 3 years. “As new jobs are created, additional money is spent at the local level, creating additional demand for local services, which in turn, creates even more jobs (i.e., grocery clerks, barbers, school teachers, home builders, etc.). These indirect and induced jobs are forecast and included in the total jobs created.” Though the economic benefits will not be distributed evenly. The predicted revenues from the top 10 states in terms of job creation and additional revenue as production of...
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...strongly agree that government Internet surveillance efforts threaten privacy and civil rights. It is a basic human right to allow someone to keep something secret to oneself. We owe no explanation or clarification to anyone for our private matters. With the governments increasing efforts in Internet surveillance this basic right is violated. It is as if we have become completely transparent to people we know nothing about ourselves. New technological tools are vulnerable to exploitation by governments aiming to crush dissent and deny human rights. All governments struggle to balance a need to deal with serious issues such as security, hate speech and child safety for their citizens but in repressive societies, these concerns often serve as convenient pretext to engage in censorship or surveillance of the internet that violates the rights and privacy of users and threatens the free flow of information. We all are aware that he internet and other communication technologies have created a vast amount of opportunities to share information, opening-up paths for pro democracy groups, activists, journalists and individuals around the world to share their opinion and judgment on various policies made by their respective government. I understand why monitoring people’s activity may seem as the right thing to do to ensure security but it is not of utmost importance; there are various other problems that need to be fixed at grass-root levels rather than monitoring people’s activity over...
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...phones, pagers, email and internet. These are often times found in the employee handbook and manuals managed by HR. In the private sector, privacy law is determined by the variety of state and federal statutes and the common law of torts (Halbert and Ingulli, pg. 74). Employees may file a claim based on “intrusion” of privacy but must prove that the electronic surveillance was highly obnoxiousness and intrusive and that the reasons for retrieval was irrelevant to the employee’s job. Government employees may argue that electronic surveillance and monitoring violate their Fourth Amendment right to “reasonable expectations of privacy”. These cases are often time judged by the balance test which weighs the importance of the employee’s privacy against the employer’s interest. An example of this is correctional facilities performing body and bag checks on their employees before they enter the facility. The safety of the inmates and the employees at the correctional facilities is of more importance than that of an individual’s need for privacy. Social media such as Face book has begun to play a role in the business world also. Many employees assume that their pages on these sites are their private business. Employers are adding clauses to personnel manuals that limit what employees can post on these sites. Some of these limitations include slander of the company and their employees, comments regarding customers/clients of the company and trade secrets....
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...was enacted to preemptively curb fraudulent financial reporting. Since its enactment, SOX has strengthened requirements of both internal controls and procedures for financial reporting. Internal control is a process where a common goal is achieved by management and personnel to ensure safe guarding assets, as well as the attainment of realistic objectives such as operation, reporting and compliance. (COSO, May, 2013) Strong internal controls assist CEOs and CFOs in meeting their new SOX requirement of personally validating their company’s financial statements for reliability and transparency (Sweeny, 2012) The following presents an overview of internal controls, a real-world example of internal controls in action, and a synopsis of monitoring, which is perhaps the most critical part of a strong internal control system. Five components of internal control The Committee of Sponsoring Organizations (COSO) provides a framework in which to analyze a firm’s internal controls. Below are the five interrelated components of this framework: 1. Control environment - The top management is responsible for setting standards, processes, structure and accountability of the organization, resulting in the establishment of the control environment. Components of the control environment consist of but are not limited to value, integrity, and the philosophy of management. 2. Risk assessment - The management’s ability to minimize risk by identifying, evaluating, managing and handling...
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...A Handbook for Development Practitioners Ten Steps to a 29672 ResultsBased Monitoring and Evaluation System Jody Zall Kusek Ray C. Rist THE WORLD BANK A Handbook for Development Practitioners Ten Steps to a Results-Based Monitoring and Evaluation System A Handbook for Development Practitioners Ten Steps to a Results-Based Monitoring and Evaluation System Jody Zall Kusek Ray C. Rist THE WORLD BANK Washington, D.C. © 2004 The International Bank for Reconstruction and Development / The World Bank 1818 H Street, NW Washington, DC 20433 Telephone 202-473-1000 Internet www.worldbank.org E-mail feedback@worldbank.org All rights reserved. 1 2 3 4 07 06 05 04 The findings, interpretations, and conclusions expressed herein are those of the author(s) and do not necessarily reflect the views of the Board of Executive Directors of the World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of the World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The World Bank encourages dissemination...
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...paper will review the importance of roles and responsibilities of contracting officers and administrator. It will look at the importance of improving the methods of creating contract schedules. This paper will develop a policy to explain the roles the contracting officers should have played with regards to GAO-09-406T, Department of Energy: Contract and Project Management Concerns at National Nuclear Security Administration and Office of Environmental Management. It will also recommend how each agency listed in the GAO-09-406T testimony could improve its effectiveness in the areas of contract administration and project management. What are the significant roles and responsibilities of contracting officers and administrator? Only Contracting Officers (CO’s) have the authority to legally bind the government and to enter into, administer, and terminate (if necessary) contracts for the Government. CO’s have the overall and primary responsibility ensuring performance of all necessary actions for effective contracting, ensuring compliance with the terms of the contract, and safeguarding the interests of the United States in its contractual relationships. Effective administration includes modifying and deviating from the contract terms, conditions, requirement, specifications, and delivery schedules; making the final decisions involving such matters as: invoice payments or other consideration due to the Government for nonperformance or...
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...STRAYER UNIVERSITY DR. MARK O AFOLABI RESEARCH PAPER WEEK 10 8/28/13 Explain computer ethics Computers are special technology and they raise some special ethical issues. In this essay I will discuss what makes computers different from other technology and how this difference makes a difference in ethical considerations. In particular, I want to characterize computer ethics and show why this emerging field is both intellectually interesting and enormously important. On my view, computer ethics is the analysis of the nature and social impact of computer technology and the corresponding formulation and justification of policies for the ethical use of such technology. I use the phrase "computer technology" because I take the subject matter of the field broadly to include computers and associated technology. For instance, I include concerns about software as well as hardware and concerns about networks connecting computers as well as computers themselves. A typical problem in computer ethics arises because there is a policy vacuum about how computer technology should be used. Computers provide us with new capabilities and these in turn give us new choices for action. Often, either no policies for conduct in these situations exist or existing policies seem inadequate. A central task of computer ethics is to determine what we should do in such cases, i.e., to formulate policies to guide our actions. Of course, some ethical situations confront us as individuals and...
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...Credit Management |Program |: |MBA |Class of |: |2007 | |Semester |: |IV |Sessions |: |33 | |Course Code |: |BKG 607 |Credit |: |3 Units | Objective The objective of this course is to provide the students with adequate knowledge about the management of Credit portfolio in banks. It will provide sufficient inputs to enable the student to develop an insight regarding the different phases of Credit management. |Reference Books |Author / Publication | |Credit Management |ICFAI | |Practical Banking Advances |H.L.Bedi and V.K. Hardikar/ UBS Publishers | |The Bank Credit Analysis |Jonathan Golin/John Wiley & Sons | |Frontiers in Credit Risk |Gordian Gaeta/ John Wiley & Sons | |Money, Credit and Capital |James Tobin/McGraw | |Credit Risk |Michael...
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...FINANCIAL MANAGEMENT OF COURTS BUDGET Programme Director, Tererai Mafukidze Members of the South African Judges Commission, Members of the Venice Commission Various Professionals and members here present, Distinguished Guests, Registrars from various parts of the world, Ladies and Gentlemen Protocol observed. I am humbled to address this auspicious gathering of the South African Judges Commission and Venice Commissions Registrar’s workshop held in our most beautiful land, South Africa. Allow me, therefore, to extend a warm word of welcome to all newly appointed Registrars and also pay recognition to those of you who have been a pillar of strength at your various organizations ensuring enhanced administrative support and capacitating the Judiciary that you serve. You are indeed a critical foundation on which the future of judicial effectiveness lies. Ladies and Gentlemen: I have been requested to talk about Financial Management, Management of Courts Budgets and its Challenges. I am sure you will agree with me that anyone requested to talk about this topic, can do so for the whole day or two or even a week. I am saying so precisely because financial Management, Management of Courts Budget and its Challenges are extensive and to sum this up in 30 minutes is in itself a challenge. INTRODUCTION It is said that if managers expect their subordinates to adopt any of their wishes or characteristics, such as frugal qualities in the workplace, managers themselves must...
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...International Accounting: Assignment 4 Chapter 5: Reporting and Disclosure Strayer University What is transparent reporting? Transparent reporting when speaking on financial statements means financials statements of high quality. These financial statements are clear, easily understood, frank and candid. Management makes decisions based on financial reports. So, it is the duty of the investor to understand the importance of transparent financial data when considering their choices. (http://ezinearticles.com/?Importance-Of-Transparency-In-Financial-Reporting&id=376424) Explain how transparent financial reporting (a) protects investors and (b) improves market quality. Investors face a fundamental problem when making decisions. Each one has to ask themselves two questions. 1. What return is to be expected from this investment? 2. How much risk will I incur? Any investor likes high returns, with minimal risk. If you can reduce an investor’s risk, then the company can acquire more capital at a much lower cost. However business is essentially risky. So how can risk be condensed for an investor? A method is to generate diverse types of investment securities (debt, preferred stock, and common stock, for example). But these securities do not get rid of business risk, they just alter it. When evaluating business threats and probable return, investors tackle an additional type of risk. This is a risk of the unknown. In the business world...
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