...A STUDY OF FACTORS INFLUENCING THE SELECTION OF A HIGHER EDUCATION INSTITUTION Mohar bin Yusof Tun Abdul Razak University, Malaysia mohar@unitar.edu.my Siti Nor Bayaah binti Ahmad Tun Abdul Razak University, Malaysia ctnor11@unitar.edu.my Misyer bin Mohamed Tajudin Tun Abdul Razak University, Malaysia misyer64@unitar.edu.my R. Ravindran Tun Abdul Razak University, Malaysia ravindran@unitar.edu.my ABSTRACT The higher education landscape in Malaysia has gone through substantial changes. With improvements in the quality of education and better academic performance at the primary and secondary school level, the demand for tertiary education has increased many fold. The increased public demand for tertiary education and the government’s aspiration to position Malaysia as a regional centre of academic excellence have led to the higher education market becoming monopolistically competitive. The purpose of the research was to examine the expectations on higher education institutions among three groups of respondent i.e. prospective students, parents of prospective students and first year university students, and to identify the factors influencing their preferences in selecting a particular higher education institution. KEY WORDS: Preferences, Higher Education Institutions, Expectations, Higher Education Market, Market Research UNITAR E-JOURNAL Vol. 4, No. 2, June 2008 27 INTRODUCTION Over the span of ten years or so, the higher education...
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...pie among stakeholders CURRENT STATUS ON CORPORATE GOVERNANCE * Insistence on forms and structures * Overarching regulations * Regulatory overkill * Lack of adequate number of strong, independent directors * Large liabilities for companies and officers Scope of Corporate Governance * “Corporate Governance is concerned with holding the balance between economic and social goals and between individual and communal goals. The governance framework is there to encourage the efficient use of resources and equally to require accountability for the stewardship of those resources. The aim is to align as nearly as possible the interest of individuals, corporations and society. * The foundation of any structure of corporate governance is disclosure. Openness is the basis of public confidence in the corporate system and funds will flow to centers of economic activity that inspire trust.” -Sir Adrian Cadbury. * “Shareholders role in governance is to appoint the directors and the auditors. Poor corporate governance has ruined companies, sent directors to jail, and destroyed a global accounting firm and threatened economies and governments.”e.g., Taj Company , Cooperatives scandal,Mohib Textile Mills Ltd. Cadbury Report (1992) * Wider use of INDEPENDENT DIRECTOR * Introduction of AUDIT COMMITTEE * Separation between CHAIRMAN and CEO * Adherence to detailed code of BEST PRACTICES. The main recommendations of...
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...The Background of Independent Directors and Corporate Performance 12公司理财 张晨月 2012312482 12公司理财 杨怡 2012312487 Abstract The purpose of this paper is to test the effect of independent directors’ background on company’s performance. Our study found that the education background of the independent directors of has no positive influence on the company's performance. And our study also found that government background of independent directors have a negative impact on company's performance. Studies also support the restriction of individuals that are act as several independent directors. Research of this paper enrich the corporate governance literature and provides a new point of view of the correct understanding of the influence of independent directors on company performance. Besides, it provides important empirical evidence for the further reform of corporate governance in our country . Keywords: background of independent directors The board of directors company's business performance ,corporate governance PART I. Introduction The introduction of independent director to the board of directors of the company hopes to improve the level of corporate governance and protect of rights and interests of small shareholders. More importantly, they also hope that the independent directors can promote the management decision of company management level from the perspective of experts, so as to improve the business performance of enterprises. As a result, whether the...
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...significance of the study. This chapter also discusses on scope and limitations of study and definition of term. 1.1 BACKGROUND OF THE STUDY For the past few years, a pawn broking has taken place in our country. It has been started since the 15th century which was introduced by the Chinese traders during the Malacca Sultanate. Then, it continued to expand after the discovery of tin mining in Larut in the 19 century. Pawn broking can be traced back to at least 3,000 years in ancient China. It also has been found in the earliest written histories of Greek and Roman civilizations. According to the Islamic Financial Services Board (IFSB), the Ar- Rahnu scheme can demonstrate its roles as a viable microcredit product of the financial institution in meeting the different customer requirements. Firstly, it represents a credit channel to those who want to use Ar-Rahnu scheme to obtain financial resources to meet their daily financial requirements; and secondly, it can be a credit channel to those who requires temporary working capital, particularly for small business. The objective of Ar-Rahnu is to create an alternative financing channel to the conventional pawn broking, that is not only more transparent but it also more compliant with Shari’ah principles. Ar-Rahnu is a form of microcredit product the borrower places their valuable assets such as gold or jewellery as collateral for the financing. In conventional pawn broking, the interest is charge based on the loan. On the other...
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...significance of the study. This chapter also discusses on scope and limitations of study and definition of term. 1.1 BACKGROUND OF THE STUDY For the past few years, a pawn broking has taken place in our country. It has been started since the 15th century which was introduced by the Chinese traders during the Malacca Sultanate. Then, it continued to expand after the discovery of tin mining in Larut in the 19 century. Pawn broking can be traced back to at least 3,000 years in ancient China. It also has been found in the earliest written histories of Greek and Roman civilizations. According to the Islamic Financial Services Board (IFSB), the Ar- Rahnu scheme can demonstrate its roles as a viable microcredit product of the financial institution in meeting the different customer requirements. Firstly, it represents a credit channel to those who want to use Ar-Rahnu scheme to obtain financial resources to meet their daily financial requirements; and secondly, it can be a credit channel to those who requires temporary working capital, particularly for small business. The objective of Ar-Rahnu is to create an alternative financing channel to the conventional pawn broking, that is not only more transparent but it also more compliant with Shari’ah principles. Ar-Rahnu is a form of microcredit product the borrower places their valuable assets such as gold or jewellery as collateral for the financing. In conventional pawn broking, the interest is charge based on the loan. On the other...
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...corporations that own a group of other firms. Can be thought of as a parent firm for a group of subsidiaries. Initially these were created as a way to provide nonbank financial services in more than one state. IN 1956, act passed to allow these companies to provide various nonbank financial services. A bank holding company can purchase a controlling interest in a foreign bank. Simply a bank that holds controlling interest in other banks but are not necessarily involved in the banks activities. What is a financial holding company? Created by an act in 1999, it allowed a commercial bank, investment bank, and insurance company to merge and form this type of holding company which many bank holding companies are now converting to. Financial institutions engaged in nonbanking activities that offer customers a wide range of financial services, including the opportunity to purchase insurance products and invest in securities; created by changes in legislation in 1999 that first allowed bank holding companies to affiliate with securities firms and insurance companies. Universal Banks?...
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...looking for. They have approximately 27% share of the eBook market and sell three times the eBooks as compared to hard copies on online. Organization's Financial Environment As with any major international corporation, Barnes & Noble has extensive ethical procedures that detail everything from acceptable behavior between employees and their interactions with customers to their compliance procedures with the Security and Exchange commission (SEC). Several procedures are in place in order to stay in compliance with the regulations set by the SEC. The senior financial officers and chief executive officers at Barnes & Noble are held responsible for the complete and correct disclosure of the company's financial reports. Dedicated to the accurate and honest reporting of their financial information, Barnes & Noble stays ready to make the important business decisions that keep it a leader in retail sales. In further compliance with SEC regulations, Barnes & Noble has an audit committee whose main function is to monitor the integrity of the entire financial reporting process. A second responsibility of this committee is to verify the company's internal controls and financial statements. The audit committee also oversees the performance of the company's global internal audit functions, the compliance with regulatory and requirements, as well as to monitor the qualifications and performance of independent auditors (Barnes & Noble. 2010). While in keeping with SEC regulations, Barnes...
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...The use of internet at high learning institutions in Rwanda. Case study of ULK (2010-2012) Writer: Nyirahabimana Adeline Contact: e-mail: nhabimanadeline@yahoo.fr General conclusion and suggestions This part of general conclusion is made of dissertation recapitulation and suggestions. This part helps to highlight key element of the study. The main challenge we met, was to handle technical terms linked with ICT in general and internet in particular. However, the topic has been a good exploration of internet field in which we benefited a lot. We hope others will also benefit of this dissertation content. Summary of the study The topic on which this dissertation is built is entitled: “The use of internet at high learning institutions in Rwanda. Case study of Kigali Independent University - ULK (2010 – 2012)”. We worked on it as an academic requirement for the bachelor’s degree in development studies. Working on such topic has been an occasion to analyze the penetration of ICT and internet and their uses in Rwandan universities in general and in ULK in particular. Methodically we analyzed internet uses among ULK students, the benefits they get and challenges they meet in using internet. This was done in order to come up with suggestions which can help to uses efficiently internet. We limited ourselves on ULK Kigali branch students. Our motives in choosing such topic were to gain more skills on internet, few studies on internet uses in Rwanda among students and desire...
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...exchange, investment banks and other institutions. The stock market can be divided into two level. The primary market including corporation, government agency, and investment bank sells securities to initial buyers, in other words called securities issue. The secondary market resell securities which have been previously issued in primary market. Secondary market can be organized in two ways. One ways is to organize exchanges, “where buyers and sellers of securities (or their agents or brokers) meet in one central location to conduct trades.”(Mishkin Eakins) The other way is to have an over-the-counter (OTC) market. The participants in OTC market trade through telecommunications networks such as telephone, email, and electronic system without a regular location. One of the importance network is the National Association of Securities Dealers Automated Quotation System (NASDAQ). Beyond those, Electronic Communications Networks (ECNs) have been challenging both the organized exchanges and NASDAQ for years. ECNs is a large quantity of stock trading electronic network that connect brokerages and traders so that they can trade directly without intermediaries. There are tens of billions of dollars of stock trading in the market every day. The management of the stock market of U.S. government is to regulate the issue and trading of the stock market and individuals and institutions which are engaging trading business. The management contains the following three contents: government makes federal...
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...Analysing advantages and disadvantages of banking reforms in Mekong countries in comparative perspective Introduction In a number of transition economies the banking systems are at different stages of the transformation process from mostly planned to market economy structures. But the past two decades led to further distinctions in developments within these countries. This paper will review recent banking reform efforts in the lower Mekong countries (LMCs), including Cambodia, the Lao People’s Democratic Republic, and Vietnam. Associated by close economic and cultural links, the three LMCs have tackled the challenges of both economic development and transition to more market-based economies. These links are apparent as they are some of the countries that make up the Greater Mekong Subregion (GMS) which is a natural economic area bound together by the Mekong River. In 1992, with the assistance from the Asian Development Bank (ADB), these countries entered into a program of subregional economic cooperation designed to enhance economic relations among them. It is important to explain the economies of these countries to lay the grounds for analysis of banking reforms. It has become clear that increasingly, modernization and industrialization are emerging from a process of transition and transformation. The Mekong countries are gradually shifting from subsistence farming to more diversified economies, and to more open, market-based systems. In parallel with this are the growing...
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... makes loans to commercial banks, and is authorized to issue Federal Reserve notes that constitute the entire supply of paper currency of the country. Created by the Federal Reserve Act of 1913, it is comprised of 12 Federal Reserve banks, the Federal Open Market Committee, and the Federal Advisory Council, and since 1976, a Consumer Advisory Council which includes several thousand member banks. The board of Governors of the Federal Reserve System determines the reserve requirements of the member banks within statutory limits, reviews and determines the discount rates established pursuant to the Federal Reserve Act to serve the public interest; it is governed by a board of nine directors, six of whom are elected by the member banks and three of whom are appointed by the Board of Governors of the Federal Reserve System. The Federal. Qualifications. The Federal Reserve System exercises its regulatory powers in several ways, the most important of which may be classified as instruments of direct or indirect control. One form of direct control can be exercised by adjusting the legal reserve ratio (the proportion of its deposits that a member bank must hold in its reserve account), and as a result, increasing or decreasing the amount of new loans that the commercial banks can make. Because loans give rise to new deposits, the possible money supply is, in this way, expanded or reduced. This policy tool has not been used too much in recent years. The money supply may also be influenced...
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...the economy. In my opinion, the top three potential impacts of these fines are: Lower profits Potential lending issues Consumer and employee impact Introduction The financial institution of today is vastly different from those of yesteryear. Those that have survived the test of time and have been in business for many years have seen many changes over the years. Those changes in which financial institutions face differ greatly within a global, and national and a regional one. Regulators today are no loner letting things “slide” and are imposing steep fines and/or penalties to financial institutions in an effort to enable a business environment where the “right way of doing business” supersedes that of pure profit. Global financial institutions are on an uphill battle as well. They have to do right by their stakeholders – they have a fiduciary responsibility – while also maintaining the laws and regulations within the company as a whole and also within each jurisdiction they are located. Financial institutions today are faced with increasing regulations from a regional, national, federal, and global level. Recently participating in a training class, the instructor said to the class, “A start-up financial institution in todays world would not survive due to all the regulations and oversight necessary in the world today”. True? Possibly. It’s enough to make one think about it. Financial institutions are among the most heavily regulated...
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...be relatively cheap when benchmarked against comparables. A key issue in the literature on socially responsible investing is whether it causes corporations to change their behavior. The authors show that for sin stocks, the neglect by large institutions significantly affects their cost of capital. The Price of Sin: The Effects of Social Norms on Markets I. Introduction In this paper, Harrison Hong and Marcin Kacperczyk analyze the effects of social norms on markets by studying sin stocks i.e. publicly traded companies engaged in producing alcohol, tobacco and gaming. Due to the societal norm against funding operations that promote human vice, many investors steer away from supporting these companies by investing in their stocks. II. Background on and Selection of Sin Stocks The authors deduce that the three products namely tobacco, alcohol and gaming are viewed as sinful by individuals and social groups owing to their addictive qualities and unfavorable social consequences when consumed extremely. III. Data The authors illustrate their data collected of these stocks. A. Variables in Ownership Regressions The data provides the shares of company owned by institutions such as banks, insurance companies, mutual funds, independent investment advisors including hedge funds and others (including universities, pension plans, and employee ownership plans). B. Variables in Analyst Coverage Regressions The data provides the analyst estimates of earnings issued on a stock...
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...revenues and expenditures over one fiscal year; budgeting process is continuous and circular. In general Kosovo budgets are prepared and presented based on past budgets, modelling future expenditures and revenues on ongoing programmes. Kosovo is still a country that learns from the past experiences on budgeting, controlling and managing the income and outcome of the means that are in disposal of the government. List of abbreviation: AoK Assemble of Kosovo BFC Budget and finance committee COPF Committee of Oversight of Public Finance MoF Ministry of Finance MTEF Medium-Term Expenditure Framework RoP Rules of Procedure Introduction: When preparing the annual budget the MoF issues a so called budget circulars to the institutions or department within the government. This document contains clear instructions for budget preparation with expenditure limits for the next fiscal year, and also provides information about the coordination process between these organizations and MoF. Additionally to the annual budget the government develops financial medium-term planning document, the MTEF seeks to improve the predictability and sustainability of the budget, this document aims to cover the coming fiscal year and estimates of the two coming fiscal years. Budget formulation According to the law on Public Financial Management and accountability, ‘’ budget organization means any authority or...
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.................................................................3 1.2 Key Terms.........................................................................................................................................3 2. Qualifications and Credits ........................................................................................................................5 2.1 Qualifications ...................................................................................................................................5 2.2 Credits and Notional Learning Hours ...............................................................................................5 2.2.1 Guidelines for Independent Learning Hours for Skills Training Courses .....................................6 2.2.2 Guidelines for Independent Learning Hours for Higher Education Qualifications ......................6 3. General Academic Regulations ................................................................................................................7 3.1 Entry Requirements and Exemptions ..............................................................................................7 3.1.1 Certificate .....................................................................................................................................7 3.1.2 Diploma, Professional Diploma, Bachelor’s Degree ....................................................................7 3.1.3 Postgraduate Qualifications (PG Certificate...
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