...For example, employees cannot always make independent ethical decisions due to a corporate culture that has many types of managers and employees using their own concepts of right and wrong. Managers sometimes pressure employees into questionable activities. However, business ethics becomes more transparent once an organization establishes codes of ethics, as well as compliance requirements and ethical leadership. The objective of this chapter is to provide some essential strategies for integrating business ethics into business courses. The authors examine the role of stakeholders, implications of the global financial crisis, and important issues in teaching business ethics, as well as providing resources to integrate business ethics successfully into a course. THE IMPORTANCE OF BUSINESS ETHICS Business courses provide an essential and dynamic foundation for students developing their business careers. Although it is important to teach many traditional concepts such as human resources and marketing, emphasizing emerging topics that are reshaping the changing world of business today, including business ethics, is crucial. Trust—or the lack of it—in business has become a major issue in our society. In fact, only 46% of consumers in the United States trust business to do what is right, according to the 2011 Edelman Trust Barometer. Trust of business is a global issue too, as only 48% of French consumers and 44% of U.K. consumers...
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...is available from the British Library ISBN–10: 0335 218 13X (pb) 0335 218 148 (hb) ISBN–13: 9780 335 218 134 (pb) 9780 335 218 141 (hb) Library of Congress Cataloguing-in-Publication Data CIP data applied for Typeset by YHT Ltd, London Printed in Poland by OZGraf S.A. www.polskabook.pl Contents List of illustrations Acknowledgements 1 What is media theory? What are media? What is theory? What is media theory? How to use this book Behaviourism and media effects Introduction Lasswell’s chain of communication and propaganda technique Wertham: Seduction of the Innocent Cantril: The Invasion from Mars Cultivation theory Agenda-setting and social functions of media Two-step flow and the phenomenistic approach Uses and gratifications theory Summary Further reading Modernity and medium theory Introduction Innis: The Bias of Communication McLuhan: the medium is the message Benjamin: art...
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...Financial Crisis? Christian Laux and Christian Leuz I n its pure form, fair-value accounting involves reporting assets and liabilities on the balance sheet at fair value and recognizing changes in fair value as gains and losses in the income statement. When market prices are used to determine fair value, fair-value accounting is also called mark-to-market accounting. Some critics argue that fair-value accounting exacerbated the severity of the 2008 financial crisis. The main allegations are that fair-value accounting contributes to excessive leverage in boom periods and leads to excessive write-downs in busts. The write-downs due to falling market prices deplete bank capital and set off a downward spiral, as banks are forced to sell assets at “fire sale” prices, which in turn can lead to contagion as prices from asset fire sales of one bank become relevant for other banks. These arguments are often taken at face value, but evidence on problems created by fair-value accounting is rarely provided. We discuss these arguments and examine descriptive and empirical evidence that sheds light on the role of fair-value accounting for U.S. banks in the crisis. While large losses can clearly cause problems for banks and other financial institutions, the relevant question for our article is whether reporting these losses under fair-value accounting created additional problems. Similarly, it is clear that determining fair values for illiquid assets in a crisis is very difficult...
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...competitiveness loss 11 3. Lehman Brothers 14 3.1. Reasons for Bankruptcy 14 3.2. LEVERAGE 15 3.3. LIQUIDITY 15 3.4. LOSSES 15 3.5. Final words 16 4. Greece Financial Crisis 16 4.1. Current Greece Financial Crisis 16 4.2. Greece before Financial Crisis 18 4.3. Industry 19 4.4. Tax Evasion 20 4.5. Populism and Corruption 22 5. Conclusion 23 5.1. Fundamental defect in the euro area – The impossible of independent monetary policy worsen the Economic Crisis of Europe. 23 5.2 Fundamental defect in the euro area – The Eurozone, which was established without financial alliance makes the financial crisis to the banking crisis. 26 REFERNECES 28 Introduction In June, whole world paid attention to Greek economic crisis. Greece, had undergone crisis because of financial crisis from United States since 2008, has evaded a default with two times of relief loans from European Commission (EC), European Central Bank (ECB), and International Monetary Fund (IMF). But Greece announced that they couldn’t pay back the loan to IMF and then implemented a referendum; pros and cons to additional relief loans. After the referendum, a negotiation of debt redemption of Greek government had been proceeded between Greece and creditors and it was concluded that Greek government would take appended loans and conduct structural reform. Why did Greece negotiate with creditors by implementing the referendum? More radically, why...
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...Business Review On Crisis Management ... Managing Crisis You Tried to Prevent Norman R. Augustine Originally published in November – December 1995 Reprint # 95602 A Harvard Business Review Paperback Managing the Crisis You Tried to Prevent Managing the Crisis You Tried to Prevent Norman R. Augustine Executive Summary NEWS REPORTS ANNOUNCING that yet another business has stumbled into a crisis—often without warning and through no direct fault of its management— seem as regular as the tide. And the spectrum of business crises is so wide that it is impossible to list each type. On a single day this year, the Washington Post reported a series of crashes suffered by American Eagle Airlines, the bankruptcy of Orange County, and Intel’s travails with its Pentium microprocessor. Other noteworthy crises have been the Challenger space shuttle explosion, the “incident” at the Three Mile Island nuclear reactor, and the series of deaths resulting from cyanide adulteration of Tylenol capsules. Fortunately, argues Norman Augustine, almost every crisis contains within itself the seeds of success as well as the roots of failure. Finding, cultivating, and harvesting that potential success is the essence of crisis management. And the essence of crisis mismanagement is the propensity to take a bad situation and make it worse. Augustine has distinguished six stages of crisis management and makes recommendations for dealing with each: avoiding the crisis, preparing to ...
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...Licensed to: iChapters User Licensed to: iChapters User Business Ethics: A Stakeholders and Issues Management Approach, Fifth Edition Joseph W. Weiss VP/Editor-in-Chief: Melissa Acuña Acquisitions Editor: Michele Rhoades Developmental Editor: Daniel Noguera Editorial Assistant: Ruth Belanger Sr. MarComm Manager: Jim Overly Marketing Manager: Clinton Kernen © 2009, 2006 South-Western, a part of Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be reproduced, transmitted, stored or used in any form or by any means graphic, electronic, or mechanical, including but not limited to photocopying, recording, scanning, digitizing, taping, Web distribution, information networks, or information storage and retrieval systems, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the publisher. For product information and technology assistance, contact us at Cengage Learning Academic Resource Center, 1-800-423-0563 For permission to use material from this text or product, submit all requests online at www.cengage.com/permissions Further permissions questions can be emailed to permissionrequest@cengage.com Text Permissions Manager: Timothy Sisler ExamView® and ExamView Pro® are registered trademarks of FSCreations, Inc. Windows is a registered trademark of the Microsoft Corporation used herein under license. Macintosh and Power Macintosh are registered trademarks of Apple...
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...Three Simple Models for Undergraduate Economists and was prepared for the ASIANetwork Conference, Furman University, April 11-13, 2003. This paper differs primarily in the introduction and summary, and in the addition of more figures. The core analysis and most of the calculatioins remain the same. Smitka / The End of Growth v2 May 23, 2003 Page 1 I. Introduction I argue below that Japan’s economy will not grow again, and that (with hindsight) this should not be surprising. First, Japan has matured, to the point where its labor force is in decline. Such an economy is unlikely to grow in absolute terms. Second, that maturation occurred in a short span of time, resulting in large structural shifts in the economy. These strained the Japanese financial system past the breaking point, and have stymied efforts at macroeconomic stimulus. I believe, however, that the magnitude of these shifts would have overwhelmed any financial structure. I do not deny that Japan’s financial system exhibited large vulnerabilities, and its macroeconomic policy systematic failures. Again, I believe that these are beside the point. Third, the current structure of Japan’s economy is not sustainable; financial liabilities (bank deposits, government social security commitments) and financial assets (good loans, and tax receipts under the status quo) are wildly out of balance. Bringing these into balance will inevitably impose a drag on economic growth into the distant future. The bottom line is...
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...UNIVERSITY OF NAIROBI INSTITUTE OF DIPLOMACY AND INTERNATIONAL STUDIES Implications of Global International Monetary Policy Decision on Economic Systems in East Africa: A Case Study of Kenya NAME: LILLIAN WACHIRA REG NO: R50/63875/2010 Supervisor: Dr. Gerrishon Ikiara A Research Proposal submitted in partial fulfillment of the Degree of Masters of Arts in International Studies (MA IS) DECLARATION I declare that this research proposal is my original work and has not been presented for a degree in any other university. NAME: LILLIAN WACHIRA REG. NO: R50/63875/2010 Sign: ………………………………… Date: ……………………… This research proposal has been submitted for examination with my approval as university supervisor SUPERVISOR: Sign: ……………………………… Date: …………………………. DEDICATION I dedicate my project to my lovely mother Beatrice, my brothers Edwin and Eric whose prayers words of encouragement and push for tenacity ring in my ears. ACKNOWLEDGEMENT I would like to express my sincere gratitude to my supervisor Dr. Gerrsihon Ikiara for the continuous support and guidance while carrying out my project, for his patience, motivation and immense knowledge. I would also like to thank the participants in my survey, who have willingly shared their precious time during the process of interviewing. I...
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...pResented by the society of ActuARies, the cAsuAlty ActuARiAl society And the cAnAdiAn institute of ActuARies Risk Management: The Current Financial Crisis, Lessons Learned and Future Implications Copyright 2008 by the Society of Actuaries. R I s k M a n a g e M e n T: the current financial crisis, lessons learned and future implications introduction the current financial crisis presents a case study of a “financial tsunami” (as former federal Reserve chairman Alan Greenspan recently called it) on what can go wrong. its ramifications are far-reaching and the lessons learned will be embedded in risk management practices for years to come. As one of the premier enterprise risk professions in practice today, the actuarial profession is sharing its substantial insight into what went wrong and the implications for the future. on behalf of the society of Actuaries, the casualty Actuarial society and the canadian institute of Actuaries, we are pleased to provide a series of essays on Risk Management: The Current Financial Crisis, Lessons Learned and Future Implications. this e-book is the result of a call for essays on the subject coordinated by the following groups: • • • • The Joint Risk Management Section of the Society of Actuaries, Casualty Actuarial Society and Canadian institute of Actuaries The Investment Section of the Society of Actuaries International Network of Actuarial Risk Managers Enterprise Risk Management Institute International ...
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...relationship between capitalisation and bank profitability BY SINDISO SIBANDA DEDICATIONS This project is a special dedication to my wife Esinathi Sibanda; daughters Faith and Cindy Sibanda my brother Leonard, my sister Nyembezi and my parents for their unwavering support in my studies. ACKNOWLEDGEMENTS First and foremost, I desire to convey my sincere gratitude to Mr. T Chigamba, my research project supervisor for his consistent guidance and uncountable patience throughout the project. I also want to express my gratitude to my brother Leonard for his unwavering support and encouragement during the research project. Special mention also goes to Michael my fellow student for his support. ABSTRACT The issue of bank capitalisation as it relates to profitability and the overall soundness of the financial services sector has generated a lot of debate in industry and commerce, academics and scholars propounding several pieces of literature to put to the fore their heads of arguments and possible influence the thinking of policy makers, monetary authorities in particular. The pronouncements by RBZ that banks have to have threshold of one hundred million dollars ($100,000,000) as capitalisation did not help the situation either, instead it created anxiety in the banking fraternity with other banks falling by the way side (Time bank, Royal bank and recently...
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... In particular, the financial analysis reveals how well the company is performing and the business analysis assesses its ability to maintain performance in the future. Such evaluation conveys valuable information to various stakeholders of the company for many purposes. For an employee, the company’s performance and prospect are important for making decisions on choice of employers. For an investor, it is the basic consideration before making investments. For suppliers and financial institutions, the company’s ability to meet interest payments and repay debts is important for making credit decisions. For the management, it is also an essential process in developing a business plan and monitoring its success. For an accounting student, this covers some of the most important concepts of the major which he or she needs to fully understand. Therefore, I chose to write my research report on topic 8, which is both informative and practically relevant. 1.2 Reasons for Choosing the Company First of all, I would like to briefly introduce FJB. FJB is a mid-size fashion retailer and distributor for international brands in Singapore, Malaysia, Indonesia, Thailand and Australia. The Group is headquartered in Singapore, represent over 20 brands and has four core businesses: 1) Fashion and lifestyle retailing and distribution FJB exclusively retails and distributes...
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...National Institute of Securities Markets Assessment of Long Term Performance of Credit Rating Agencies in India July 2009 5th Floor, Plot No.82, Sector 17, Vashi, Navi Mumbai 400 705 1 Contents Terms of Reference Executive Summary Acknowledgements CRAs: Relevance and Perspective Raters and Ratings: Evolution and the Current State of the Art Critical Evaluation of Ratings Rating Transition and Default Study Emerging Trends and Alternate Approaches Conclusions and Recommendations References Annexure Sample Questionnaire 3 4 14 15 21 32 43 58 63 74 78 2 Terms of Reference This Study has been commissioned by NISM as desired by the Committee on Comprehensive Regulation of CRA’s in India, to look into the legal and policy framework for regulating the activities of Credit Rating Agencies (CRAs), vide letter bearing Reference No. F.No.12/11/07-PM, dated 16.1.2009. The Terms of Reference are listed as under: 1. Assessment of the performance of CRAs in India in terms of parameters like default and transition data 2. How much information asymmetry is bridged by CRAs 3. How far CRAs assessment helps financial regulation 4. Accountability, corporate governance issues of CRAs 5. Disclosures of methodologies of rating 6. Rating of complex products like structured obligation 7. Uniformity or otherwise in definition and rating nomenclature of CRAs in India 8. Consistency of rating data with accounting data 9. Overall evaluation of what CRAs have done in terms of value...
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...Resources for Teaching Prepared by Lynette Ledoux Copyright © 2007 by Bedford/St. Martin’s All rights reserved. Manufactured in the United States of America. 2 1 f e 0 9 d c 8 7 b a For information, write: Bedford/St. Martin’s, 75 Arlington Street, Boston, MA 02116 (617-399-4000) ISBN-10: 0–312–44705–1 ISBN-13: 978–0–312–44705–2 Instructors who have adopted Rereading America, Seventh Edition, as a textbook for a course are authorized to duplicate portions of this manual for their students. Preface This isn’t really a teacher’s manual, not, at least, in the sense of a catechism of questions and correct answers and interpretations. Because the questions provided after each selection in Rereading America are meant to stimulate dialogue and debate — to generate rather than terminate discourse — they rarely lend themselves to a single appropriate response. So, while we’ll try to clarify what we had in mind when framing a few of the knottier questions, we won’t be offering you a list of “right” answers. Instead, regard this manual as your personal support group. Since the publication of the first edition, we’ve had the chance to learn from the experiences of hundreds of instructors nationwide, and we’d like to use this manual as a forum where we can share some of their concerns, suggestions, experiments, and hints. We’ll begin with a roundtable on issues you’ll probably want to address before you meet your class. In the first section of this manual, we’ll discuss approaches to...
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...GMO MYTHS AND TRUTHS An evidence-based examination of the claims made for the safety and efficacy of genetically modified crops Michael Antoniou Claire Robinson John Fagan June 2012 GMO Myths and Truths An evidence-based examination of the claims made for the safety and efficacy of genetically modified crops Version 1.3 by Michael Antoniou Claire Robinson John Fagan © Earth Open Source www.earthopensource.org 2nd Floor 145–157, St John Street, London EC1V 4PY, United Kingdom Contact email: claire.robinson@earthopensource.org June 2012 Disclaimer The views and opinions expressed in this paper, or otherwise published by EOS, are those of the authors and do not represent the official policy, position, or views of other organizations, universities, companies, or corporations that the authors may be affiliated with. GMO Myths and Truths 2 About the authors Michael Antoniou, PhD is reader in molecular genetics and head, Gene Expression and Therapy Group, King’s Cols: lege London School of Medicine, London, UK. He has 28 years’ experience in the use of genetic engineering technology investigating gene organisation and control, with over 40 peer reviewed publications of original work, and holds inventor status on a number of gene expression biotechnology patents. Dr Antoniou has a large network of collaborators in industry and academia who are making use of his discoveries in gene control mechanisms for the production of research, diagnostic and therapeutic products...
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...Career Choice Report Investment Banker or International Corporate Attorney? Prepared for xxxxxxxxx Prepared by xxxxxxxxxxx April 8, 2013 Date: April 8, 2013 To: xxxxxxxxx From: xxxxxxxx Re: Sharing Research on My Career Choice I am writing this in response for the request in information on my career choice. I am sure you believe that this assignment is important for me to consider what I want to do with myself over the next few years. Since I am in the business school, it is important that I reach a decision based on business. The two careers I researched were International Corporate attorney and Investment banker. Hopefully the details provided in this report will give you solace. I found information that brings to light what my future career should be. I believe I told you international law was something that interested me while a career in finance such as investment banking was also on my mind. My decision is based upon the best available research and is also the best decision for me more importantly. Since this report is based on my needs, I think that it is best to reveal them. My goal is to someday raise a family somewhere in the United States. So the criteria I am evaluating my career decision on is based with that goal in mind. There are specific needs that I would like filled with my career and families have unique needs. This report will contain many facts and figures based on research collected over a large period of time...
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