Definition of Crime

Definition of Crime According to the dictionary, crime is â€Å"an action or an instance of negligence that is deemed injurious to the public welfare or morals or to the interests of the state and that is legally prohibited† (Lexico publishing, 2012). It is considered to be a crime when an unlawful act as being committed that society agreed upon punishment for this act that has been committed. Society agreed upon crimes could range from littering, jaywalking, motor vehicle violations, white-collar crimes, or even the more violent crimes.The crime control model is one of the most common models to show how society determines which acts are considered criminal. The crime control model basically stresses the efficiency of arrest and conviction of criminal offenders. In the late 1960s a law professor by the name Herbert Packer introduced the crime control model to the academic community at Stanford University within his state of criminal justice presentation. The control model is o ften referred to as the Packer's crime control model. The due process model is another common use model to show how society determines which acts are considered criminal.The due process model basically shows the individual rights at all stages of the justice system processing. The due process model helps to ensure that innocent people are not convicted of crimes that they did not commit. In America this is one of the essential parts of the justice system. Government Structure of the Criminal Justice System There are many different agencies that the criminal justice system works with such as: federal, state, and local governments. With the criminal justice system working with so many agencies many times creates problems determining whose jurisdiction the crime was committed in.All the agencies that are involved in the criminal justice system are by law required to work together to ensure that the criminal justice system is working properly. Choice Theories Choice theories are also kn own as rational theories. The choice theories are a type of theory to where an individual feels that there is no other choice but to commit a crime. With choice theories the individual cannot see any other way around their predicament without committing a crime. The individual is completely unable to find a solution to the problem at hand on their own.An example of choice theories might be an individual that has lost their job and can no longer provide food for their family sees no other way to provide food for their family except for committing a crime by stealing the food to feed their family. Components of the Criminal Justice System There are many different components that make up the criminal justice system which are the police, the courts, and corrections. All the agencies that make up the criminal justice system must work together to ensure that the criminal justice system is fire, impartial, professional, and have integrity.The Police Departments are the individuals that are responsible for enforcing laws, investigating crimes, making arrest, maintaining public order, and at times providing emergency services. The court systems are responsible for ensuring that individual receive fair and impartial trials, determine if the individual is innocent or guilty, upload the written all, determine the type of sentence the guilty will receive, ensuring fairness, and protecting the rights and freedom of the individual.Corrections are responsible for carrying out the sentences that the court system placed on the individual and provide safety and humane condition for all offenders. Goals of the Criminal Justice System There are five goals of the criminal justice system which are deterrence, incapacitation, retribution, rehabilitation, and restoration. Basically the criminal justice system is trying to put the fear of punishment and people in hopes of persuading the individuals from committing any more crimes.The second goal of the criminal justice system is incapa citation which is basically the idea that if an individual is incarcerated for their crime then they will not be able to commit another crime. The third goal is retribution which replies that when retribution for a crime is provided justice will prevail. The fourth goal of the criminal justice system is rehabilitation which believes that by correcting the behavior by incarcerating an individual and providing the individual with new skills will help with returning back to society.The fifth and last goal of the criminal justice system is restoration, which tries to repair the damage that the individual had done and return them back to society. Thoughts on the Criminal Justice System I believe that today's criminal justice system has way too many flaws in it, but overall is a good system to have. Taking a look back in history to the first criminal justice system that was put into place there has been a great deal of advancements made to improve the criminal justice system to what we ha ve today. So the flaws in the system we are using now can only improve over time.I do not believe that there is a flawless system might very anywhere, so the system we are using now is better than having no system at all. References Demand media, I. (2012). ehow. Retrieved April 5, 2013 from http://www. ehow. com/about_6292484 _choice-related-criminal-justice-system-. html Lexico Publishing, L. (2012). Dictionary. com. Retrieved April 5, 2013 from http://dictionary. reference. com/browse/crime Schmallager, F. (2011). Criminal justice today: an introductory text for the 21st century (11th ed. ). Upper Saddle River, NJ. Pearson/Prentice Hall Definition of Crime Definition of Crime According to the dictionary, crime is â€Å"an action or an instance of negligence that is deemed injurious to the public welfare or morals or to the interests of the state and that is legally prohibited† (Lexico publishing, 2012). It is considered to be a crime when an unlawful act as being committed that society agreed upon punishment for this act that has been committed. Society agreed upon crimes could range from littering, jaywalking, motor vehicle violations, white-collar crimes, or even the more violent crimes.The crime control model is one of the most common models to show how society determines which acts are considered criminal. The crime control model basically stresses the efficiency of arrest and conviction of criminal offenders. In the late 1960s a law professor by the name Herbert Packer introduced the crime control model to the academic community at Stanford University within his state of criminal justice presentation. The control model is o ften referred to as the Packer's crime control model. The due process model is another common use model to show how society determines which acts are considered criminal.The due process model basically shows the individual rights at all stages of the justice system processing. The due process model helps to ensure that innocent people are not convicted of crimes that they did not commit. In America this is one of the essential parts of the justice system. Government Structure of the Criminal Justice System There are many different agencies that the criminal justice system works with such as: federal, state, and local governments. With the criminal justice system working with so many agencies many times creates problems determining whose jurisdiction the crime was committed in.All the agencies that are involved in the criminal justice system are by law required to work together to ensure that the criminal justice system is working properly. Choice Theories Choice theories are also kn own as rational theories. The choice theories are a type of theory to where an individual feels that there is no other choice but to commit a crime. With choice theories the individual cannot see any other way around their predicament without committing a crime. The individual is completely unable to find a solution to the problem at hand on their own.An example of choice theories might be an individual that has lost their job and can no longer provide food for their family sees no other way to provide food for their family except for committing a crime by stealing the food to feed their family. Components of the Criminal Justice System There are many different components that make up the criminal justice system which are the police, the courts, and corrections. All the agencies that make up the criminal justice system must work together to ensure that the criminal justice system is fire, impartial, professional, and have integrity.The Police Departments are the individuals that are responsible for enforcing laws, investigating crimes, making arrest, maintaining public order, and at times providing emergency services. The court systems are responsible for ensuring that individual receive fair and impartial trials, determine if the individual is innocent or guilty, upload the written all, determine the type of sentence the guilty will receive, ensuring fairness, and protecting the rights and freedom of the individual.Corrections are responsible for carrying out the sentences that the court system placed on the individual and provide safety and humane condition for all offenders. Goals of the Criminal Justice System There are five goals of the criminal justice system which are deterrence, incapacitation, retribution, rehabilitation, and restoration. Basically the criminal justice system is trying to put the fear of punishment and people in hopes of persuading the individuals from committing any more crimes.The second goal of the criminal justice system is incapa citation which is basically the idea that if an individual is incarcerated for their crime then they will not be able to commit another crime. The third goal is retribution which replies that when retribution for a crime is provided justice will prevail. The fourth goal of the criminal justice system is rehabilitation which believes that by correcting the behavior by incarcerating an individual and providing the individual with new skills will help with returning back to society.The fifth and last goal of the criminal justice system is restoration, which tries to repair the damage that the individual had done and return them back to society. Thoughts on the Criminal Justice System I believe that today's criminal justice system has way too many flaws in it, but overall is a good system to have. Taking a look back in history to the first criminal justice system that was put into place there has been a great deal of advancements made to improve the criminal justice system to what we ha ve today. So the flaws in the system we are using now can only improve over time.I do not believe that there is a flawless system might very anywhere, so the system we are using now is better than having no system at all. References Demand media, I. (2012). ehow. Retrieved April 5, 2013 from http://www. ehow. com/about_6292484 _choice-related-criminal-justice-system-. html Lexico Publishing, L. (2012). Dictionary. com. Retrieved April 5, 2013 from http://dictionary. reference. com/browse/crime Schmallager, F. (2011). Criminal justice today: an introductory text for the 21st century (11th ed. ). Upper Saddle River, NJ. Pearson/Prentice Hall

Crime Prevention Essay

Introduction Throughout my project I will be referring a retail shopping centre in tralee, kerry.The shopping centre trades between 8.00 am and 07.00 pm, six days a week and 10.00am to 5.00pm on Sundays I ahave decided to do this project on this centre as it is the only shopping centre located near my home aslo I chose thi centre as I am very familiar with it. Functions of notebook entries: * To record matters which cannot be entrusted to memory. * Make entry for each working day. * To provide a permanent personal record of hours of duty and work done. * To record instructions, incidents and messages * Fill out the top of your report clearly and completely as needed * While doing your rounds Be sure to take notes in your field notebook. Do not use your memory. Make sure to take Note the times, Dates and any persons involved if necessary. * Remember your notebook may be used in a court of law as evidence or to assist you when testifying. Use it only for its intended use. * The retail shopping centre was built in 2004 . The shopping centre employs ten security staff to cover its 90000 sq. ft. area. There is a purposely built security office with all the latest cctv monitoring systems. Uniforms for security are simple such as black trousers, black shoes and white shirt. A high visibility jacket will be supplied for car park duties there are over a 1000 free parking spaces. The only equipment a security guard will carry on them at all times is a two way radio system for communication purposes with the control room and co workers. Inspections * Security personnel who guard entrances and exits must thoroughly screen people and packages to make sure no unauthorized items or individuals go where they shouldn’t. Surveillance * Closely monitoring their assigned location be it static or patrolled, allows security guards to spot suspicious behaviour and prevent problems, including illegal activity. Enforcement * A variety of tools help security guards enforce the law and rules, including communication devices like radios, monitoring devices like security cameras, detection devices like scanners and defensive instruments like batons. Emergencies* When emergencies occur, security guards are often responsible for directing people in the area to safety, contacting emergency responders, attempting to determine the source of the problem and containing the threat. Law * As an employer you are required to manage safety and health at work so as to prevent accidents and ill-health. * The law requires employers to: * Carry out a risk assessment * Identify the hazards * Prepare a written safety statement * Section 20 provides that every employer must have a written safety statement based on the hazards identified and the risk assessment under Section 19 and setting out how the safety, health and welfare of employees will be secured and managed. When preparing a safety statement, account should be taken of the general principles of prevention set out in Schedule 3 to the Act. * Safety statements must be specific to the place of work and must set out – * The protective and preventive measures taken and the resources allocated to safety, health and welfare, * The hazards identified and the risks assessed, * The plans and procedures for dealing with emergencies or serious and imminent danger, in compliance with Sections 8 and 11, * The duties of employees as regards safety, health and welfare at work, and the requirement for them to co-operate on those matters with their employer and any person who has responsibility under the relevant statutory provisions, * The names and, where applicable, job titles of persons assigned to perform tasks pursuant to the safety statement, and * The arrangements for the appointment of safety representatives and safety consultation at the place of work in compliance with Sections 25 and 26 and the names of any safety representatives and/or safety committee members. * Assessing the risks in your workplace * This is how to assess the risks in your workplace: * Identify the hazards. * Decide who might be harmed and how * Evaluate the risks and decide on precautions. * Record your findings and implement them * Review your assessment and update if necessary. Risk assessment process: * To identify the hazards: * talk to staff to learn from their knowledge and experience, and listen to their concerns and opinions about health and safety issues in the shop; * look at the accident book, to understand what previous problems there have been; * Walk around the shop, the stockroom and all other areas noting what might pose a risk, taking HSE guidance into consideration. Also consider occasional activities, such as changing light bulbs; * Write down who could be harmed by the hazards and how. * For each hazard, write down what controls, if any, were in place to manage these hazards. These controls were then compared to the guidance on HSE’s website. Where existing controls are not considered good enough, write down what else is needed to be done. * Discuss the findings with staff, display the risk assessment in the staffroom and make it part of the induction process for new staff. Decide when the actions that were needed will be done, and who will do them, and tick the actions off as each is completed. * Review and update the risk assessment every year or straightaway if major changes in the workplace happen. The Safety, Health and Welfare at Work Act 2005: * Represents a modernisation of our occupational health and safety laws and it sets the scene for achieving further improvements in the national record on safety and health over the next few decades. * Its primary focus is on the prevention of workplace accidents, illnesses and dangerous occurrences and it provides also for significantly increased fines and penalties aimed at deterring the minority who continue to flout safety and health. * One of the aims of the act is to encourage a responsible attitude on the part of both employees and employers. * Duty of care: legal obligation imposed-requiring that safety standards are upheld –to ensure people are not injured by actions or failure to act. Duties of employees * Comply with health and safety legislation, both in the 2005 act and elsewhere. * Take responsible care to protect his or her own safety. * Co-operate with his or her employer or any other person as necessary, to assist that person in complying with safety and health legislation as appropriate. * Correct use of protective clothing and any other protective article or substance where necessary. * Not be under influence of an intoxicant at the place of work. * Not engage in improper conduct or other behaviour such as violence, bullying or horseplay. Hazards and risks * Hazard is the potential to cause harm; risk on the other hand is the likelihood of harm * A hazard is a situation in the workplace that has the potential to harm the health and safety of people or to damage plant and equipment. * Risk is the likelihood that a person may be harmed or suffers adverse health effects if exposed/come into contact with a hazard Some groups of people are particularly vulnerable to hazards: * Young workers, have higher accident rates. * Pregnant women. * People with disabilities. * New or inexperienced workers * Workers who have recently changed roles or jobs. Risk control: is the process of implementing measures to reduce the risk associated with a hazard. The control process must follow the control hierarchy, in order, as prescribed in some health and safety legislation. It is important that control measures do not introduce new hazards, and that the ongoing effectiveness of the controls is monitored. Safety statement Safety statement is the name given to a document that outlines how a company or organisation manages their health and safety. It is a report of all hazards and risks found in the workplace. An account of the controls taken or planned to be taken to control them. A Safety statement is required by law unless the employer employs less than three people. Employers have ultimate responsibility for safety and health. The safety statement should begin with a declaration, signed at senior, responsible management level on the employer’s behave. The declaration should spell out the policy in relation to overall safety and health performance, provide a framework for managing safety and health, and list relevant objectives. That the safety statement will be revised as changes occur and evaluated at set intervals; how the relevant contents of the statement are to be brought to the attention of employees and other people in the workplace who might be affected by the statement. Stress in the workplace Stress is any action or situation (stressor) that places special physical or psychological demands on a person. There are two types of stress: eustress and distress. Eustress is a good stress and appears to motivate and inspire . Distress is considered as bad stress, and can be short-lived or long-term. Stress is often described as a mismatch between the demands of work, family and living and of coping with these demands. Stress can be positive – when it motivates us to get something done – or negative when we have too many demands and constantly feel under pressure. Bullying in the Work Place The 2005 Act provides that employers carry out risk assessments at their place of work in the preparation of a safety statement. This assessment should also include the risks associated with bullying. The definition of bullying is â€Å"Repeated inappropriate behaviour that undermines your right to dignity at work†. It can encompass verbal bullying, physical bullying or otherwise and it may take different forms such as social exclusion and isolation, damaging someone’s reputation by gossip or rumours, intimidation, aggressive or obscene language or repeated requests with impossible tasks or targets.Whilst there is no specific legislation that deals with bullying in the work place the Health and Safety Authority have issued a code of practice for employers and employees on the prevention and resolution of bullying at work. Conclusions and recommendations: Overall I was impressed with the level of professionalism that is in the shopping center . Security personnel within the premises have very good procedures and should continue this. The security officers have access to the latest technology including CCTV with spinning domes. They use these to great use for crime prevention and should continue to do so . the staff are very good at identifying hazards and protecting customers as a result of this the retail center will be successful for yearts to come.

Answering questions Assignment Example | Topics and Well Written Essays - 250 words

Answering questions - Assignment Example 2. Using the collapse of the subprime mortgage market in the U.S., describe the components of good management and how regulation can contribute to prudent lending or encourage excessive risk taking. (What forms of discrimination are to be encouraged.) The subprime mortgage crisis in the U.S. has revealed various imperfections in the financial system. This collapse happened when most of the borrowers over-reached their demand for big homes and a number of borrowers availed the loan offers without having a suitable understanding to the implications of terms and results in an environment of declining real estate prices and increasing interest rates. Regulations can play a very significant role in ensuring stability in finance system by covering the safety and reliability of depository institutions and by maintaining a capital adequacy. In other words, a suitable regulated housing finance system is less vulnerable to institution failure. The less vulnerability may increase the confidence of investors in the system thereby, encouraging them to take risks. Moreover, the regulations and law should intend to reduce discriminations in house financing. For example, in the mortgage crisis institutions traded and resold the subprime mortgages in the secondary securitization market which made it hard for the regulators and homeowners to follow the predatory lenders.

PRINCE and PRINCE2 Frameworks in Management and Business Strategy Essay

PRINCE and PRINCE2 Frameworks in Management and Business Strategy - Essay Example This management method was initially developed for use in IT projects (PRINCE) but has since been expanded in scope to deal with project management in any type of organization (PRINCE2). This report will focus mainly on PRINCE2 since this method is more extensive and applicable to all kinds of organizations. PRINCE2 is owned by the United Kingdom Office of Government Commerce or OGC, and it is in the public domain, which means it is free and available for use by anyone (Office of Government Commerce, 2005). The only potential cost incurred when utilizing PRINCE2 is the cost of training and certification (see the "APM Certification in PRINCE2" section below). When a client addresses a problem and contracts a company to remedy their problem, the PRINCE2 method can be used to set the framework for how the resulting project is to proceed. The objective of PRINCE2 is to allow newly minted businesses to start off successfully, by learning from their predecessor's mistakes, rather than to reinvent the wheel, per se, of project management. In effect, PRINCE2 is available to facilitate the most efficient and directed project management possible. ... The top problems were, "unclear direction, over- or under-worked staff, people and equipment not available when needed, rework or wasted effort, final tasks were rushed, poor quality work, problems late and overspent, small problems had a big impact (Bentley, 2003)." This is rooted in a number of sources, including "customer involvement, coordination, communication, planning control, progress, and quality control (Bentley, 2003)." Although it may seem that businesses should easily overcome these problems out of common sense, the reality is that many businesses do not know the proper way to consistently apply their past mistakes to problematic issues that regularly arise. The PRINCE2 framework can be used as a robust, adaptable system that project managers can consult throughout each stage of a project. There are eight steps, or phases, in the PRINCE2 method. These phases, which constitute the Business Case (i.e. the justification for the project) must be carried out fully to ensure that the end product is high-quality, generated in the allotted amount of time, and utilizes only the funds that are allocated for it (Office of Government Commerce, 2005; Getronics, 2003). The first step is called the start-up phase, during which project managers decide whether or not to accept the project desired by the customer, based on their own resources and capacity. Essentially, the managers address the question, "Is this project worth doing, and, if yes, are we fully equipped to complete it" This is an important phase during which the feasibility of the project is assessed and the company decides whether they can aptly handle the requests of the customer in the time allotted.

A comparison between the Japanese kimono and Chinese robe Research Paper

A comparison between the Japanese kimono and Chinese robe - Research Paper Example Dress materials and designs are the best indicators of the history of a particular region. It holds absolutely true when we say that by looking at the texture, designs, pattern and also the color of the dress material that was worn, one could easily decipher the culture of the people who wore it and also get to the know their way of life in general. Japanese kimono and Chinese robes have been brought into comparison as they resemble each other to a very great extent. There seems to be a cultural link between that of Japan and China which could be deciphered from their clothing. Japanese kimono and Chinese robes looks similar yet comes with their own uniqueness.The kimono came into being in the fifth century. A kimono robe is the typical sign of the Asian cultures. The garment has its long history entrenched in the hearts of the Japanese and Chinese culture. Later, the garment was made more contemporary to include kimono robes that are fundamentally all one size for both men and women . While silk kimonos are traditional garments in Japan, Chinese have Cheongsam as their traditional Chinese garment (Garrett, 1998). Both of these garments are very old and carry with it a long lost historical angle to it. Kimono, a piece of clothing, is not just a form of dressing among the Japanese but is also a clear-cut manifestation of how the Japanese history has evolved over time. The style of Kimono has been altered from one age to that of another and it has undergone changes throughout its history and has finally attained a form today. Goldstein-Gidoni (1997, p. 35) comments â€Å"The word kimono used in contemporary Japanese refers to the modern kimono, which â€Å"stems from the decorative festive clothing worn on special occasions† The inception time of the Kimono dates back to the time in Japan history pointed out as a specific period. That specific period is the Jomon period (Said, 1995). Kimono was in the form of a piece of clothing that was loosely draped ove r the body of the wearer. Those times, people did not pay much of attention to clothing as their major activity was to go for hunt and assembling. It was between the year 300 and 550 AD, Kimono dress patterns went for a change. Now the influence of the Chinese culture over the Japanese can be seen and the Kimono dress became a two-piece cloth. The arrival and the settlement of the Chinese in Japan brought about a huge change in their dressing patterns. Kimono was made in white color that was taken from the silk worm. Figure 2: Chinese White Women’

Information Systems Essay Example | Topics and Well Written Essays - 2500 words - 2

Information Systems - Essay Example In spite of maintaining a high performance on the business parameters, Comair was simply grounded for a full 3 days during the peak holiday season because it faced a highly damaging IT risk issue on December 24, 2004, when the company’s Information system for managing the scheduling of the crew and flights crashed. It is impossible for an airline to fly when its mission critical crew scheduling system fails. In case of Comair, this IT failure resulted in a loss of approx $20 million which was actually wiping out it previous quarter earning of $25.7 million. This report is a study in the Comair Information systems and highlights the gaps between the IT strategy and business strategy. The report also attempts to suggest an information system which can take care of the gaps between business and IT strategy so that such failures as mentioned above are prevented as much as possible as well as identifies the people, technology and organization issues which Comair must take into account before building a resilient information system. Comair information system was purchased from SBS international in the year 1986 after union and federal regulations forced Comair to meet higher standards in its management procedures. To comply with the regulations, Comair leased software from SBS International to track & schedule its flight crews. The system worked admirably and was a welcome relief for the staff who were managing the schedule using the pen & paper until then. As the business started growing, Comair felt a need to upgrade its information system as the existing system was written in FORTRAN for which there was no in-house expertise available. Moreover it was the only system using old IBM AIX platform compared to current HP UNIX. Following table lists down the milestones in Comair’s IT journey until Dec 24, 2004 against their business strategy. As can be clearly seen from the comparative

BATNA Basics Assignment Research Paper Example | Topics and Well Written Essays - 250 words

BATNA Basics Assignment - Research Paper Example It is, therefore, before this stage that an individual takes time to think about all other possible options available, including the possible no-deal options (NMR 1). If the individual think and explore best options, then he or she has higher chances of proper and satisfying outcomes. Evaluate your alternatives. After listing all the possible options available, an individual moves to give the options a close examination and calculates the value attached to each of them before pursuance of each. Establish your BATNA. At this step, the individual must be careful to choose only courses of action that are viable in terms of yielding the expected value. The individual pursues the BATNA if the ongoing negotiation fails. It must have high chances of providing a positive solution. Calculate your value of reservation. In this step, the individual calculates his or her reservation value. The lowest proposed value deal that would be acceptable to the individual must not be lower than the reservation value chosen. If the proposed reservation value is lower than his reservation value, then the individual better rejects and subsequently pursues the original BATNA. However, if the reservation offer has higher value than the calculated reservation value, then accept it. Forgoing options after investing your resources in it creates a feeling of wastage. It thus requires that the individual find way of counterbalancing the situation (NMR 1). In addition, negotiations that are more costly during strong BATNA development may deter an individual’s efforts and behavior. The other hazard is that the negotiating individual may feel disappointed and exposed if all the details he reveals fail to yield expected outcomes. Prior investments have high likelihood of compromising ethical standards and emerging from sunk cost shadow cast become

The Myocardial Infarction Case Essay Example | Topics and Well Written Essays - 2000 words

The Myocardial Infarction Case - Essay Example Four pieces of assessment data The key pieces of assessment data include: the elevation of serum cardiac troponin levels (cTnT) diagnosed by collecting and testing of the blood; breathlessness, diagnosed by the observation of shortness of breath; appearing pale and tired, diagnosed by observing the patients feeling; patient feeling tired, fatigued, weak and nausea; the detection of heart sound S3 with no adventitious lung sounds or peripheral oedema; and prior history of heart failure as diagnosed by her doctor earlier; and the data of the 12- lead ECG which shows 2mm elevation in anterior leads of V1-V4 with the Q waves in inferior leads 11, 11 and a VF. McCaffery does not complain of chest pain, which is a symptom of acute myocardial infarction the reason for not having chest pain stems from her age and that she is diabetic. Davidson (2008) states that old and diabetic patients experience silent or non-pain myocardial infarction. Pathophysiology of the data pieces of assessment The pathophysiology of the Electrocardiograph (ECG) and the elevation of serum cardiac troponin (TP) piece data. ...he changes in plasma concentration of these markers bring out the diagnostic value; however, confusion may arise for the diagnoses of Angina which when damaged does produce troponins. The difference is that angina with minimal myocardial damage releases troponins to a minor degree. Electrocardiography (ECG) is difficult to interpret unless there exists a previous evidence of myocardial infarction. The first change is the serum troponin elevation followed by a diminution of the size of R wave and an occurrence of infarction of a Q wave develops. The Q wave develops because the myocardial infarct acts as an electrical window that transmits the changes from within the ventricular cavity to allow the electrocardiography (ECG) to see the reciprocal R wave from the walls of the ventricle (Hutchison’s, 2007). Therefore, McCaffery’s 12 lead show 2mm segment elevatio n with leads v1-v4 with the Q wave reciprocal changes of 11, 111, and a VF which leads to no other conclusion but to that of myocardial infarction. Electrocardiography recorded from a 70- year old man who had an acute infarct 2 days ago and had treatment for myocardial infarction 11 months before showed Q waves in the inferior leads (11, 111, and a VF) and serum troponin (ST) elevation on the anterior leads (1 and V2-V6) (Davidson’s, 2008). This diagnosis resembles that of McCaffery so it can rightly be inferred that McCaffery is suffering from myocardial infarction. The other reason for the pathophysiology of the electrocardiography is that one cannot rely on these results unless there is a prior diagnosis of myocardial infarction. This is overcome by the fact that, McCaffery was diagnosed with heart failure by her doctor and drugs prescribed.

Performance Management at Bolts Convenience Stores Essay Example for Free

Performance Management at Bolts Convenience Stores Essay Subject area – The case throws light on performance management in general and performance appraisal in a specific Indian context, its linkages with various other HR systems in an organization and the various issues and challenges attached with it. The case is especially suited for understanding people management in small organizations and organizations in emerging markets. Study level/applicability – This case has been tried and tested in the classroom setting with management students pursuing a post graduate diploma in business management (PGDBM). The case has been administered to students in Chennai Business School, Chennai in their core course human resource management (first year PGDBM) and to second year students specializing in HR in their course â€Å"Performance management and compensation management† in G D Goenka World Institute, Sohna. Case overview – The case is set in the southern part of India in a retailing organization which grew from a small retail store catering to the daily needs of the student community to a four store retail store (Bolts). Mr Andrew (Head, HR), introduced performance management and appraisal at Bolts. Since the appraisal was interrelated with various other HR systems like motivation, compensation, training and development and promotions, it generated a lot of excitement among the employees. After implementation of performance appraisal, the organization seems to experience one problem after another. There were complaints from customers, followed by a range of challenges such as discontented employees, unprofessional behavior, low motivation in the organization and loss of profit. Expected learning outcomes – Understand and analyze the performance management in general and performance appraisal in a specific Indian context, its linkages with various other HR systems in organization and the various issues and challenges attached with it. Understand people management in small organizations and organizations in emerging markets. Assess and identify HR practitioners problems in studying SMEs HR related problems in an Indian context.

Establish and adjust the marketing mix Essay Example for Free

Establish and adjust the marketing mix Essay Promotions are not just aimed at increasing usage of the products. Followings are five other specific promotional aims. Sales Growth There have two term of campaigns, long term and short term campaigns. In a short-term, the main aim would be to drive revenues or cash flow, it also trigger the buyer actions. In the long-term campaign, the main aim would be intended to lead optimized profit margins. Especially for a new business they might aim to build a customer base in order to cover new start-up business costs and maintain a sustainable business. For the established companies, their aim would be to generate more business during slow or off season periods, and to expand the business into the newer markets. Brand Recognition One of the most popular promotional objectives would be building or maintaining brand recognition. The objective is to let customers or people know and well recognized your brand logo, other symbols or characters. Customers identify it with your company and hopefully associated with good impression to it, this might lead to customers will advertise our brand to his/her friends. It also gives people something to remember you by , that helps the business stand out even more. Understanding and connecting with the image of your brand is critical to long-term customer’s loyalty and profits. Purchase Intent As customers become more familiar with your brand, the next stage is to motivate purchase intent. The goal is to eliminate, neutralize or blocks the efforts of competitors to grab market share. You need to lure customers away from aggressive competitors. Promotional activities can be used such as refreshing trial use, encouraging existing customers to consume more quantity it occurs when customers are satisfied and can see no reason to buy  form another company and more frequency and getting customers to switch from competing options. Some customers are so satisfied with your services they cannot imagine shopping somewhere else A variety of promotional tools are used in this endeavor, including free trial offers or first-time buyer discounts Create Awareness Increased market awareness is a primary promotional objective. A mature product that is providing something new such as a product improvement or enhancement can also turn to promotion. A product thats new to the marketplace will need promotion to be introduced to consumers. In all these cases, the objective is to make noise in the market that results in sales. Goodwill One ongoing objective of companies is to promote goodwill with the public and also public relation campaign. Staying active in community activities and giving to charities are common promotional tools with public relationship. Coinciding with building and maintaining goodwill, public relationship and other promotional campaigns are sometimes used to combat negative publicity already festering. Wal-Mart often uses advertising to promote positive attributes of the company in the face of criticism for some of its business practices.

Role of Institutional Investors in Corporate Governance

Role of Institutional Investors in Corporate Governance CHAPTER II REVIEW OF LITERATURE Corporate governance paradigm is based on the argument of Berle and Means (1932) that separation of ownership and control leads to the problems associated with agency theory so that the managers of a company may not act in the best interest of owners. Throughout the twentieth century, the pattern of ownership continued to change from declining individual ownership to increasing institutional ownership. So, it is not surprising that institutional investors are increasingly looking more carefully at the corporate governance of companies because good governance goes hand in hand with increased transparency and accountability. Many studies have been conducted to see the impact of institutional holdings on corporate governance. Some researchers contend that substantial holdings by institutional investors and corporate governance are significantly correlated while others argue the absence of such a relationship. Evidences are also inconclusive on whether institutional investors invest in good governed companies or their holdings improve the governance practices. The role of institutional investors is visualized in two perspectives, the corporate governance and the firm performance. The present chapter covers the empirical studies on the above issues as institutional holdings and corporate governance, institutional holdings and firm performance, corporate governance and firm performance with special emphasis on the studies conducted in India on the above aspects. The present submission seeks to evaluate the impact of institutional holdings over corporate governance and firm performance by constructing governance score and taking various measures for firm performance. Various studies have focused on different aspects/levels of ownership and their effects on firm performance. As a result, various arguments have been put forward both in support and against the notion of the effects of ownership structure on the firm performance. While some researchers denied the direct correlation between ownership structure and firms economic performance while the others argued that there exists such a relationship for certain. Amongst those who establish such causality, some provide evidence that there is a negative relationship, while others plead a positive relationship between the two. Studies have also been carried to determine a link between varied aspects of corporate governance and firm performance; evidence in this regard too appears fairly mixed. There has been extensive literature to document a positive relationship between the two, based on identified individual aspects of corporate governance and firm performance whereas others do not find any conclusive evidence in this regard. Prepositions put forwarded by the researchers in this context are being reviewed here as under in the perspectives identified above: 2.1 Institutional Holdings and Corporate Governance Coombes and Watson (2000)1 on the basis of a survey of more than 200 institutional investors with investments across the world showed that governance is a significant factor in their investment decision. Three-quarters of the investors say that board practices are at least as important as financial performance. In fact, over 80% of the investors in the survey stated that they would pay more for the shares of a well-governed firm than a poorly governed firm with comparable financial performance. The survey indicated that the premium these institutional investors would be willing to pay varied by country, with premiums being higher in Asia and Latin America (where financial reporting is less reliable) than in Europe or the U.S. Bradshaw, Bushee and Miller (2004)2 indicated that firms whose accounting methods conform to U.S. Generally Accepted Accounting Principles have a greater level of investment by U.S. institutional investors. They found further that increases in conformity with U.S. GAAP are positively associated with future increases in U.S. institutional investment, but that the reverse does not hold (i.e., increases in U.S. institutional ownership are not associated with later changes in accounting methods). The authors attributed this relation to home bias rather than better transparency (and corporate governance) however; their results are also consistent with the latter interpretation. Chung, Firth, and Kim (2002)3 hypothesized that there will be less opportunistic earnings management in firms with more institutional investor ownership because the institutions will either put pressure on the firms to adopt better accounting policies or they will be able to unravel the earnings management rule so it will not benefit the managers. They found that when institutional investors own a large percentage of a firms outstanding shares, there is less opportunistic earnings management (i.e., less use of discretionary accruals). Hartzell and Starks (2003)4 provided empirical evidence suggesting institutional investors serve a monitoring role with regard to executive compensation contracts. First, they found a positive association between institutional ownership concentration and the pay-for-performance sensitivity of a firms executive compensation. Second, they reported a negative association between institutional ownership concentration and excess salary. One implication of these results, consistent with the theoretical literature regarding the role of the large shareholder, is that institutions have greater influence when they have larger proportional stakes in firms. Parrino, Sias and Starks (2003)5 indicated that those firms that fired their top executives had a significantly greater decline in institutional ownership in the year prior to the CEO turnover than firms experiencing voluntary CEO turnover (even after controlling for differences in performance). These results support the hypothesis that institutional selling influences decisions by the board of directors-increasing the likelihood a CEO is forced from office. This implies that boards care about institutional trading and ownership activity in their firms. Further, the authors found that larger decreases in institutional ownership are associated with a higher probability of an outsider being appointed to succeed the CEO. This result suggests that directors are more willing to break with the current corporate management and institute change. They also noted that there are several potential effects when institutions sell shares. First, heavy institutional selling can put downward pressure on the stock price. Alternatively, institutional selling might be interpreted as bad news, thus triggering sales by other investors and further depressing the stock price. Finally, the composition of shareholder base might change, for example, from institutional investors with a long-term focus to investors with a more myopic view. This last effect might be important to directors if the types of institutions holding the stock affect share value or the management of the company. Cremers and Nair (2005)6 stated that the interaction between shareholder activism on behalf of institutional investors and the market for corporate control is important in explaining developments in abnormal equity returns and accounting measures of profitability. Davis and Kim (2007)7 found that mutual funds with conflicts of interest (based on management of pension assets) more often vote with management in general. On the other hand, mutual funds have more incentive and power to oppose management in firms in which they have a larger stake. McCahery, Sautner and Starks (2008)8 have relied on the survey data to investigate governance preference of 118 institutional investors in U.S. and Netherlands. The study found that the majority of institutions that responded to the survey take into account firm governance in portfolio weighting decisions and are willing to engage in activities that can improve the governance of their portfolio firms. Brickley, Lease and Smith (1988)9 found evidence supporting the hypothesis that firms with greater holdings by pressure-sensitive shareholders (banks and insurance companies) have more proxy votes cast in favor of managements recommendations. Moreover, firms with greater holdings by pressure-insensitive shareholders (pension funds and mutual funds) have more proxy votes against managements recommendations. The authors differentiated between the different types of institutional investors, noting the difference between pressure-sensitive and pressure-insensitive institutional shareholders and arguing that pressure-sensitive institutions are more likely to â€Å"go along† with management decisions. The rationale is that pressure-sensitive investors might have current or potential business relations with the firm that they do not want to jeopardize. Maug (1998)10 noted that institutions use their ability to influence corporate decisions are partially a function of the size of their shareholdings. If institutional investor shareholdings are high, shares are less marketable and are thus held for longer periods. In this case, there is greater incentive to monitor a firms management. However, when institutional investors hold relatively few shares in a firm, they can easily liquidate their investments if the firm performs poorly, and therefore have less incentive to monitor firm performance. Almazan, Hartzell and Starks (2003)11 provided evidence both theoretical and empirical that the monitoring influence of institutional investors on executive compensation can depend on the current or prospective business relation between the institution and the corporation. They concluded that the monitoring influence of institutions is associated more with potentially active institutions (investment companies and pension fund managers who would be less sensitive to pressure from corporate management due to lack of potential business relations) than with potentially passive institutions (banks and insurance companies who would be more pressure-sensitive). Marsh (1997)12 has argued that short-term performance measurement does work against the active monitoring by institutional investors. The performance of fund managers is evaluated over a shorter time period. Hence, they act under tremendous pressure to beat some index. So, when they find a case of bad governance, they find it economical to sell the stock rather than interfere in the functioning of the company and incur monitoring costs. Denis and Denis (1994)13 found no evidence to suggest that there is any relationship between institutional holdings and corporate governance. They stated that if companies that create shareholders wealth are the ones with poor corporate governance practices, and then one really cannot blame the institutional investors for having invested in such companies. For, after all, a fund manager will be evaluated on the basis of stock returns he creates for the unit holders and not on the basis of the corporate governance records of the company he invests the money in. If however, one finds that companies with poor corporate governance practices are the ones, which have consistently destroyed shareholders wealth, then the contention that the institutional investors need not look at corporate governance records cannot be justified. David and Kochhar (1996)14, provided empirical evidence regarding impact of institutional investors on firm behaviour and performance is mixed and that no definite conclusions can be drawn. They argued that various institutional obstacles, such as barriers stemming from business relationships, the regulatory environment and information processing limitations, might prevent institutional investors from effectively exercising their corporate governance function. Agrawal and Knoeber (1996)15 found little evidence of an association between total institutional ownership and other possible control mechanisms (e.g., insider ownership, block holders, outside directors, CEO human capital, and leverage). Payne, Millar, and Glezen (1996)16 focussed on banks as one type of institutional investor that would be expected to have business relations with the firms in which they invest. They examined interlocking directorships and income-related relationships, and noticed that when such relations exist; banks tend to vote in favor of management anti-takeover amendment proposals. When such relations dont exist, banks tend to vote against the management proposals. Leech (2002)17 is of the view that many institutional shareholders do not seek control of a company for a variety of reasons, which include the fear of obtaining price sensitive information, and that it is more likely that institutional investors seek only influence rather than complete control. Moreover, it has also been argued, in line with the â€Å"passive monitoring† view, that institutional investors may not be keen to â€Å"exit† on their investments â€Å"i.e. sell their equity stakes when the firm is not performing optimally, mainly because they hold large investments and thus selling may lower the price and further increase any potential loss. Woidtke (2002)18 concluded by comparing the relative value of firms held for public versus private pension fund that relative firm value is positively related to private pension fund ownership and negatively related to (activist) public pension fund ownership. These results supported the view that the actions of public pension fund managers might be motivated more by political or social influences than by firm performance. Ashraf and Jayaman (2007)19 examined mutual funds trading behavior after the release of voting records. The study found that funds that support shareholder proposals reduce holdings after the release of voting records. Since the time of releasing voting records could be very far from the shareholder meeting date, mutual funds trading behavior after the release of voting records may be unrelated to the votes cast in the meeting. Dahlquist et al. (2003)20 analyzed foreign ownership and firm characteristics for the Swedish market. The study found that foreigners have greater presence in large firms, firms paying low dividends and in firms with large cash holdings and explained that firm size is driven by liquidity. It reiterated that foreigners tend to underweight the firms with a dominant owner. Leuz, Nanda and Wysocki (2003)21 asserted that the information problems cause foreigners to hold fewer assets in firms. Firm level characteristics can be expected to contribute to the information asymmetry problems. Concentrated family control makes it more likely that information is communicated via private channels. Informative insiders have incentives to hide the benefits from outside investors by providing opaque financial statements and managing earnings. Haw, Hu, Hwang and Wu (2004)22 found that firm level factors cause information asymmetry problems to FII. It found evidence that US investment is lower in firms where managers do not have effective control. Foreign investment in firms that appear to engage in more earnings management is lower in countries with poor information framework. Choe, Kho, Stulz (2005)23 found that US investors do indeed hold fewer shares in firms with ownership structures that are more conducive to expropriation by controlling insiders. In companies where insiders are dominating information access and availability to the shareholders will be limited. With less information, foreign investors face an adverse selection problem. So they under invest in such stocks. Covirg et al. (2008)24 concluded that foreign fund managers have less information about the domestic stocks than the domestic fund managers. They found that ownership by foreign funds is related to size of foreign sales, index memberships and stocks with foreign listing. Leuz, Lins, and Warnock (2009)25 found that foreign institutional investors prefer to invest in firms with â€Å"better† governance practices. This literature assumes that firm level corporate governance mechanisms substitute for weak country level legal protections of minority shareholders. Aggarwal, Klapper and Wysocki (2005)26 found that U.S. mutual funds tend to invest greater amounts in countries with stronger shareholder rights and legal frameworks (controlling for the countrys economic development). In addition, within the countries, the mutual funds also discriminate on the basis of governance in that they allocate more of their assets to firms with better corporate governance structures. Resume After reviewing the literature on the above sub-section, it is concluded that the results are inconclusive regarding the association between institutional holdings and corporate governance as some studies invariably support the hypothesis that institutional holdings and corporate governance are significantly related while the others reject it. But the results are uniform on one issue that there is positive relation between the foreign institutional holdings and corporate governance as foreign institutional investors are relatively more concerned about the governance practices of companies and countries as well. They prefer to invest more in the countries with stronger shareholder rights and legal frameworks. Similarly, they do invest in the companies with good disclosure and transparency measures. A group of studies contend that institutional investors consider governance practices of companies as an important consideration for investment decision. They not only care for financial performance of target companies, but also put great emphasis on the board practices. They are ready to pay premium for good governance. Institutional investors can put pressure on firms improve their governance practices if they have substantial stake in the target companies and do not have business relations with them. Moreover, if they dont involve themselves actively in governance but only vote with their feet it serves as a deterrent for the management in practicing bad governance. As it will send bad signal to the stock market leading to further decline in the stock prices and may be changing the shareholder base from dynamic institutional investors with long-term focus to myopic investors. Whereas in other studies, it has been observed that institutional investors prefer to remain passive and concentrate on their own business objectives, rather than look into the governance practices of companies. They do not involve themselves actively in the governance of firms for variety of reasons as short-term performance measurement, business relationships, regulatory environment, information processing limitations, free-rider problem etc. Moreover, they may not be interested in selling the shares of poor firms as they have large holdings and selling may aggravate their potential loss. 2.2 Institutional Holdings and Firm Performance Pound (1988)27 explored the influence of institutional ownerships on firm performance and proposed three hypotheses on the relation between institutional shareholders and firm performance: efficient-monitoring hypothesis, conflict-of-interest hypothesis, and strategic-alignment hypothesis. The efficient-monitoring hypothesis says that institutional investors have greater expertise and can monitor management at lower cost than the small atomistic shareholders. Consequently, this argument predicts a positive relationship between institutional shareholding and firm performance. The conflict-of-interest proposition suggests that in view of other profitable business relationships with the firm, institutional investors are coerced into voting their shares with management. The strategic-alignment hypothesis states that institutional owners and managers find it mutually advantageous to cooperate. Holderness and Sheehan (1988)28 found that for a sample of 114 US firms controlled by a majority shareholder with more than 50% of shares, both Tobins Q and accounting profits are significantly lower for firms with individual majority owners than for firms with corporate majority owners. Hermalin and Weisbach (1988)29 further stated that the managerial ownership is positively related to performance between 0-1% of managerial ownership, negatively related thereafter up to 5%, and again positively related from 5-20% and negatively related thereafter. Boardman and Vining (1989)30 compared the performance of state owned enterprises, joint enterprises, and private corporations among the 500 largest non-US industrial firms, and found that mixed enterprises and state owned enterprises perform substantially worse than similar private enterprises. McConnell and Servaes (1990)31 found a strong positive relationship between the value of the firm and the fraction of shares held by institutional investors. They found that performance increases significantly with institutional ownership. Han and Suk (1998)32 found (for a sample of US firms) that stock returns are positively related to ownership by institutional investors, thus implying that these corporate owners are actively involved in the monitoring of incumbent management. They also found that alignment effect dominates if the managers own up to 41.8% of the share capital. They further evidenced that beyond the limit of 41.8%, the mangers are able to control the Board of directors and so the entrenchment effect dominates the alignment effect. Majumdar and Nagarajan (1994)33 found that levels of institutional investment are positively related to the current performance levels of firms. However, a less-stronger, though positive, effect is established between changes in performance levels and changes in institutional ownership. The results are based on a study investigating U.S. institutional investors investment strategy. Bethel et al. (1998)34 consistent with the view that market for partial corporate control identifies and rectifies problems of poor corporate performance, found that activist investors typically target poorly performing and diversified firms for block share purchases, and thereby assert disciplinary effect on target companies plans in mergers and acquisitions. Douma, Rejie and Kabir (2006)35 investigated the impact of foreign institutional investment on the performance of emerging market firms and found that there is positive effect of foreign ownership on firm performance. They also found impact of foreign investment on the business group affiliation of firms. Investor protection is poor in case of firms with controlling shareholders who have ability to expropriate assets. The block shareholders affect the value of the firm and influence the private benefits they receive from the firm. Companies with such shareholders find it expensive to raise external funds. Bhattacharya and Graham (2007)36 investigated the relationship between different classes of institutional investors (pressure-sensitive and pressure-resistant) and firm performance in Finland. It documented evidence that these institutional owners own stakes in multiple firms across industries, leading to a possible two-way causality or endogenous problem between firm performance and ownership structure. It was also evidenced that institutional investors with likely investment and business ties with firms have negative effect on firm performance and the impact is very significant in comparison to the negative effect of firm performance on institutional ownership. Wiwattanakantang (2001)37 investigated the effects of controlling shareholders on corporate performance and found that presence of controlling shareholders is associated with higher performance, when measured by accounting measures such as return on assets and the sales-asset ratio. However, the controlling shareholders involvement in management has a negative effect on the performance and it is more pronounced when the controlling shareholder and managers ownership is at the 25-50 percent. The evidence also revealed that family controlled firms display significantly higher performance. Foreign controlled firms as well as firms with more than one controlling shareholder also have higher return on assets, relative to firms with no controlling shareholder. Abdul Wahab et al. (2007)38 examined the relationship between corporate governance structures, institutional ownership and firm performance for 440 Bursa Malaysia listed firms from 1999 to 2002 and found that institutional investors have a positive impact on firms corporate governance practices. Qiet et al. (2000)39 found that firm performance is positively related to the proportion of shares owned by the state. In addition, they found little evidence in support of a positive correlation between corporate performance and the proportion of tradable shares owned by either domestic or foreign investors. Wahal (1996)40 observed that although institutional investors, particularly, activist institutions, have been successful in their efforts to affect the governance of targeted firms, these same firms have not demonstrated performance improvements. Studies examining the relationship between institutional holdings and firm performance in different countries (mainly OECD countries) have produced mixed results. Chaganti and Damanpour (1991)41 and Lowenstein (1991)42, for instance, find little evidence that institutional ownership is correlated with firm performance. Seifert, Gonenc and Wright (2005)43 study does not find a consistent relationship across countries. They conclude that their inconsistent results may reflect the fact that the influence of institutional investors on firm performance is location specific. The above studies generally consider institutional investors as a monolithic group. However, Shleifer and Vishnys (1997)44 as well as Pounds (1988)45 theorizations and later empirical examinations by McConnell and Servaes (1990)46 suggest that shareholders are differentiable and pursue different agendas. Jensen and Merkling (1976)47 also show that equity ownerships by different groups have different effects on the firm performance. Agrawal and Knoeber (1996)48, Duggal and Miller (1999)49 find no such significant relation between institutional holdings and firm performance. Resume Various studies on relationship between institutional holdings and firm performance have been reviewed in the above sub-section and the results are mixed. Different researchers have taken different performance measures as some of them have considered accounting measures but others have taken stock market indicators.Some of the observations contend that institutional investors are more expert in monitoring the affairs of companies as compared to individual investors; their holdings improve the financial performance of target companies. The results are more significant, where managers also have some ownership stake so as to have alignment effect. Moreover, if their stake is substantial, they can also assert disciplinary action against the poorly performing firms. Similarly, foreign institutional investors have also positive impact on the firm performance. But the results of other observations state otherwise. They state that if institutional investors have business ties with the firms, they would go along with the management and it may have negative impact on the firm performance. The studies have revealed out an interesting observation that Institutional holdings have positive effect on firm performance but their active involvement in management has negative effect. Some of the observations state that institutional investors may have significant impact on the governance practices of companies but do not improve financial performance. 2.3 Corporate Governance and Firm Performance Lipton and Lorsch (1992)50 found that limiting board size improves firm performance because the benefits by larger boards of increased monitoring are outweighed by the poorer communication and decision-making of larger groups. Millstein and MacAvoy (1998)51 studied 154 large publicly traded US corporations over a five-year period and found that corporations with active and independent boards appear to have performed much better in the 1990s than those with passive, non-independent boards. Eisenberg et al. (1998)52 found negative correlation between board size and profitability when using sample of small and midsize Finnish firms, which suggests that board-size effects can exist even when there is less separation of ownership and control in these smaller firms. Vafeas (1999)53 found that the annual number of board meeting increases following share price declines and operating performance of firms improves following years of increased board meetings. This suggests meeting frequency is an important dimension of an effective board. Core, Holthausen and Larcker (1999)54 observed that CEO compensation is lower when the CEO and board chair positions are separate. It is further shown that firms are more valuable when the CEO and board chair positions are separate. Botosan and Plumlee (2001)55 found a material effect of expensing stock options on return on assets. They used Fortunes list of the 100 fastest growing companies and obtained the effect of expensing stock options on firms operating performance. Morgan and Poulsen (2001)56 found that pay-for-performance plan generally helps to reduce agency problems in the firm as the votes approving the plan are positively related to firms that have high investment or high growth opportunities. On the other hand, votes approving the plan are inversely related to negative features in some of the plans such as dilution of shareholder stakes. Mitton (2002)57 examined the stock performance of a sample of listed companies from Indonesia, Korea, Malaysia, the Philippines and Thailand. It reported that performance is better in firms with higher accounting disclosure quality (proxied by the use of Big Six auditors) and higher outside ownership concentration. This provides firm-level evidence consistent with the view that corporate governance helps explain firm performance during a financial crisis. Claessens et al. (2002b)58 observed that firm value increases with the cash-flow ownership (right to receive dividends) of the largest and controlling shareholder, consistent with â€Å"incentive† effects. But when the control rights (arising from pyramid structure, cross-holding and dual-class shares) of the controlling shareholder exceed its cash-flow rights, firm value falls, which is consistent with â€Å"entrenchment† effects. Deutsche Bank AG (2004a and 2004b)59 explored the implications of corporate governance for portfolio management and concluded that corporate governance standards are an important component of equity risk. Their analysis also showed that for South Africa, Eastern Europe, and the Middle East, the performance differential favored those companies with stronger corporate governance. Fich and Shivdasani (2004)60 based on Fortune 1000 firms, asserted that firms with director stock option plans have higher market to book ratios, higher profitability (as proxied by operating return on assets, return on sales and asset turnover), and they document a positive stock market reaction when firms announce stock option plans for their directors. Gompers et al. (2003)61 examined the ways in which shareholder rights vary across firms. They constructed a ‘Governance Index to proxy for the level of shareholder rights in approximately 1500 large firms during the 1990s. An investment strategy that bought firms in the lowest decile of the index (strongest rights) and sold firms in the highest decile of the index (weakest rights) would have earned abnormal returns of 8.5% per year during the sample period. They found that firms with stronger shareholder rights had higher firm value, higher profits, higher sales growth, lower capital expenditures, and made fewer corporate acquisitions. Brown, Robinson and Caylor (2004)62 created a broad measure of corporate governance, Gov-Score, based on a new dataset provided by Institutional Shareholder Services. Gov-Score is a composite meas

Post-Traumatic Stress Disorder Essay -- Health, Diseases, Stress

Friedrich Nietzsche once said, â€Å"That which does not kill us makes us stronger.†(Bailey, Eileen) While this is often the case, certain tragedies are simply too overwhelming for the body and mind to recover from. Instead of making one stronger, some things leave the human body weakened both emotionally and physically. When faced with gargantuan amounts of stress, some people have mental or emotional breakdowns resulting in post-traumatic stress disorder. Post-traumatic stress disorder, commonly known as PTSD, is an anxiety disorder that can occur after experiencing or witnessing a traumatic or life threatening event that causes intense feelings of fear or helplessness. PTSD affects most people differently depending on the individual, but most of the symptoms are similar. These symptoms can be separated into three main categories: re-experiencing symptoms, avoidance behaviors, and symptoms of hypervigilance.(Thomas 17) Re-experiencing symptoms include nightmares, upsetting memories, or painful flashbacks. After working on machines and tanks, many veterans who return home have associated the smell of diesel fuel with flashbacks of combat and gory battles. Avoidance behaviors are also common in PTSD patients. People often become frightened of everyday simple tasks because of trauma they have experienced. Some people are terrified to ride in cars because they have been involved in horrible car wrecks. Hypervigilance simply involves a person being alert or on edge at all times. (Thomas 18-21) PTSD can be caused by many different things but some of the common causes are war, terrorism, rape, a severe accident, or natural disasters. The National Center for PTSD said that about 60 percent of men and 50 percent of women will exp... ...uggling to get through the day. If a person is putting too much energy into balancing their lives with therapy and stress relief then medication is the next step. Currently the Food and Drug Administration has approved only two medications fot the treatment of PTSD; Sertraline(Zoloft) and Paroxeine(Paxil). They are both anti-depressant drugs called Selective Serotonin Reuptake Inhibitors or SSRIs. They work by blocking the site on neurons that remove serotonin from the synapses, a process called reuptake. This allows the body access to more serotonin. It has a calming effect on the body and relieves the PTSD symptoms of hypervigilance and intrusive thoughts, as well as countering depression and panic attacks.(Thomas 60) PTSD is very serious and it affects people everyday. Some events are simply too traumatic for one’s mind and body to handle. Post-Traumatic Stress Disorder Essay -- Health, Diseases, Stress Friedrich Nietzsche once said, â€Å"That which does not kill us makes us stronger.†(Bailey, Eileen) While this is often the case, certain tragedies are simply too overwhelming for the body and mind to recover from. Instead of making one stronger, some things leave the human body weakened both emotionally and physically. When faced with gargantuan amounts of stress, some people have mental or emotional breakdowns resulting in post-traumatic stress disorder. Post-traumatic stress disorder, commonly known as PTSD, is an anxiety disorder that can occur after experiencing or witnessing a traumatic or life threatening event that causes intense feelings of fear or helplessness. PTSD affects most people differently depending on the individual, but most of the symptoms are similar. These symptoms can be separated into three main categories: re-experiencing symptoms, avoidance behaviors, and symptoms of hypervigilance.(Thomas 17) Re-experiencing symptoms include nightmares, upsetting memories, or painful flashbacks. After working on machines and tanks, many veterans who return home have associated the smell of diesel fuel with flashbacks of combat and gory battles. Avoidance behaviors are also common in PTSD patients. People often become frightened of everyday simple tasks because of trauma they have experienced. Some people are terrified to ride in cars because they have been involved in horrible car wrecks. Hypervigilance simply involves a person being alert or on edge at all times. (Thomas 18-21) PTSD can be caused by many different things but some of the common causes are war, terrorism, rape, a severe accident, or natural disasters. The National Center for PTSD said that about 60 percent of men and 50 percent of women will exp... ...uggling to get through the day. If a person is putting too much energy into balancing their lives with therapy and stress relief then medication is the next step. Currently the Food and Drug Administration has approved only two medications fot the treatment of PTSD; Sertraline(Zoloft) and Paroxeine(Paxil). They are both anti-depressant drugs called Selective Serotonin Reuptake Inhibitors or SSRIs. They work by blocking the site on neurons that remove serotonin from the synapses, a process called reuptake. This allows the body access to more serotonin. It has a calming effect on the body and relieves the PTSD symptoms of hypervigilance and intrusive thoughts, as well as countering depression and panic attacks.(Thomas 60) PTSD is very serious and it affects people everyday. Some events are simply too traumatic for one’s mind and body to handle.

Homelessness in Canada Viewed Through a Sociological and Economic Lens

Introduction Researchers from the Parliament of Canada have proven that there are â€Å"as many as 300,000 homeless in Canada† . Homelessness is a major social issue which is present in society throughout most of the world; when it comes to Canada it is no exception. The homeless are known as people who do not have a home or a stable place of residence, they are seen as individuals who sleep in â€Å"shelters, public places, vehicles, abandoned building or someone else’s home† . In the past few years homelessness in Canada has become a growing social issue. Researchers say that there are approximately one hundred million homeless individuals who live in public areas, which means they are that one hundred million out one billion homeless individuals who are not appropriately sheltered . Most homeless individuals are part of minority groups such as immigrants, aboriginals, youth, women and families. However, a number of the homeless are simply part of different cultural communi ties or they may just be mentally ill. There are three types of homeless individuals such as, chronically homeless, cyclically homeless and temporarily homeless . Chronically homeless are individuals who are faced with mental illnesses or substance abuse, cyclically homeless are individuals who had a situation change in their life for the worst and lastly temporarily homeless are individuals who become homeless but not for long .There are many questions and concerns about the homeless population since the causes and consequences are negatively impacted. Historical overview Homelessness in Canada is seen as major social issue. In the 1980’s the homeless population started to increase . The increase of homelessness was lead by a variety of situations such as â€Å"crimin... ...melessness,† http://www.parl.gc.ca/Content/LOP/ResearchPublications/prb991-e.htm, (accessed April 2, 2012). Stephen W. Hwang, et al. "Drug problems among homeless individuals in Toronto, Canada: prevalence, drugs of choice, and relation to health status." BMC Public Health 10, (January 2010): 94-100, EBSCO Academic Search Premier (accessed February 22, 2012). A. Thomas McLellan, et al, "Individual characteristics of the literally homeless, marginally housed, and impoverished in a US substance abuse treatment-seeking sample." Social Psychiatry & Psychiatric Epidemiology 43, no. 10 (October 2008): 839-840, EBSCO Academic Search Premier (accessed April 4, 2012). Gerhard Buchkremer, â€Å"Prevalence of mental illness among homeless men in the community,† Original Paper Journal 40 (October 2004): 385, EBSCO Academic Search Premier (accessed February 29, 2012).

Cell Biology Meiosis and Mitosis

Cell Biology (CP8121) Experiment 2: Observing Mitosis and Meiosis on cell specimens (Formal report) Name: Wong Chung An Class: DMLS/FT/1B/02 Admin number: P1138687 Summary This experiment aims to observe mitosis and meiosis on cell specimens. It involves the modelling of the stages of meiosis and also the staining procedures to identify mitosis in onion root tip. There are two parts to the procedure of the experiment whereby the first is staining and observing mitosis in onion root tips and the second being observing and comparing mitosis between whitefish blastula and onion root tip. The results are that the five stages of mitosis have been observed and sketched, together with a comparison of telophase in plant and animal cells. The difference between the two types of cell division mitosis and meiosis has also been recorded. The conclusion is that all the objectives of the experiment have been met and it is recommended that the mitotic spindle be stained for a more complete picture of the various stages of mitosis. 1) Introduction It is important that the experiment is carried out so as to differentiate between the two types of nuclear division, mitosis and meiosis. Mitosis is a process mainly for the growth and replacement of somatic cells and it involves the replication of chromosomes which results in having two daughter cells each same as the parent nucleus. On the contrary, meiosis is for the production of gametes which is essential for an organism’s reproduction and it comprises of two successive nuclear divisions which results in the production of four haploid cells. Mitosis: A process which replicates chromosomes exactly so that each of the daughter cells contains identical information. The process of mitosis involves five stages. The five stages are: Interphase, Prophase, Metaphase, Anaphase and Telophase respectively. Meiosis: A process whereby two successive nuclear divisions will produce four haploid cells. There are two rounds of cell division in meiosis, mainly meiosis I and meiosis II. Meiosis I is identical to that of mitosis whereas meiosis II is a round of reductional division. The process of meiosis has allowed for an escalation of genetic variations because of the crossing over of the genes. This process is crucial as it produces half the number of chromosomes as per the human sex cells. For humans, every gamete contains 23 chromosomes and fertilisation of an egg by a sperm will restitute the diploid number of 46 chromosomes 2) Objectives * Learn a staining procedure to identify mitosis using onion root tip. * Compare and contrast mitosis in plants and animals. * Compare and contrast stages of mitosis and meiosis * Model stages of meiosis. 3) Procedures (a) Preparation and observation of onion root tip slide ) An onion root tip was obtained and the first 1-3mm of its root tip was cut off using a scalpel. The root tip was then placed at the centre of a clean slide using a forceps. 2) Then, the root tip was covered with 2-3 drops of 1N HCL solution and then placed over the hot plate for 3-5 seconds using a slide holder. 3) Without touching the root tip, the excess acid was then blotted off using a paper towel. 4) After which, the root tip was then covered once again, this time in 3-4 drops of 0. 5% Toluidine Blue solution. 5) The excess stain was blotted off and a cover slip was added. ) To spread out the stained root tip for visualisation, the slide was placed in the middle of a folded paper towel and applied pressure upon by placing the thumb directly above the cover slip and having it gently pressed on against a lab bench. 7) The slide was examined on low power on the microscope and embryonic cells which are square-like were looked for. 8) Once the mitotic figures were found, the microscope was switched to a higher power. 9) The phases that were seen were sketched on the datasheet. (b) Observation of prepared slides: Mitosis in Onion root tip & Whitefish blastula ) The prepared slides provided were reviewed by using a low power (10x) to locate the cells and high power (40x) to change the focus. 2) This time, instead of sketching the different phases of mitosis in onion root tip, the differences in mitosis between the plant and animal cells were re corded. 4) Results and Discussion *For the results, refer to the datasheet archived under appendix at the end of the report. 5. 1 Explanation and reasons for results The results of the datasheet have shown that all the five main phases of mitosis can be observed. This can because of several reasons such as the choice of use of onion root tips, flattening of the onion root tips, addition of hydrochloric acid and 0. 5% Toluidine Blue solution. Onion root tips are easy to grow in large numbers and the cells at its tips are actively dividing, thus many of its cells will be in different stages of mitosis. The reason for using the last 1-3mm of the root tip is because it is where the region of cell division (meristem) is located. This is the region whereby cells are dividing but not significantly increasing in size. The flattening of the onion root tips allows the chromosomes of each individual cell to be observed. The hydrochloric acid added, plays a part in fragmenting the root tissues by weakening and removing the bonds between cells so that each cell will not be attached to the other cell, obstructing the observation. Toluidine Blue solution acts as a colorant, giving a blue colour to the chromosomes and so that it is more easily spotted and examined. 5. 2 Evaluation of the results achieved Interphase: The interphase is the phase in which the cell is involved in metabolic activity and fulfilling its role as part of a tissue in the body. During this phase, the DNA duplicates as it is preparing for mitosis and the chromosomes are cannot be easily distinguished. However, the nucleolus, a dark spot may be visible instead. Prophase: During the prophase, the chromatin within the nucleus will begin to condense and become visible in the microscope as chromosomes. Then the nuclear membrane will dissolve, signalling the start of Prometaphase. After which, proteins would then attach to the centromeres, creating kinetochores in which the microtubules will attached to. The chromosomes would then start moving. Metaphase: The chromosomes would then be aligned by the spindle fibres at the equator of the spindle. This alignment helps to ensure that in the anaphase, when the chromosomes are separated, each of the new nucleuses will receive a copy of each of the chromosomes. Anaphase: In the anaphase, the two sister chromatids of each chromosome at the centromeres would start to separate. This movement is due to the shortening of the kinetochore microtubules. Telophase: The two sets of daughter chromosomes would arrive at the two poles and the mitotic spindle would disappear. A nuclear envelope would start to form around each set of daughter chromosomes at both ends of the poles. Cytokinesis may have also begun during this phase depending on each individual cell. 5. 3 Descriptions of problems encountered The problem that we have encountered during this experiment was during the preparation of the first slide of onion root tip. The amount of toluidine blue solution may not be enough as only a few of the cell nucleus have been stained. This makes it difficult for us trace the various stages of mitosis. This problem is resolved however by making a new set of the onion root tip slide. 5) Conclusions and Recommendations In conclusion, the experiment was a success and all of the objectives of the experiments were met. All five stages of mitosis have been observed and a comparison of mitosis between plant and animal cells has been made. Although we did not get to observe the stages of meiosis, we have modelled the stages of meiosis and acquired knowledge of it. In my opinion, I would recommend that the mitotic spindles of the onion root tip cells be stained as well. This would allow a more in depth observation of mitosis and instead of solely looking at the movement of the chromosomes and the nucleus, we could observe the reason behind the movement of the chromosomes. 6) Appendix http://www. marietta. edu/~biol/introlab/Onion%20root%20mitosis. pdf Clark, D. C. and P. M. Mathis. (2000). Modeling mitosis and meiosis: a problem-solving activity. The American Biology Teacher Mickle, J. E. 1990. A model for teaching mitosis and meiosis. The American Biology Teacher Carmen Chan Yuen Man (2011). Cell Biology lecture notes (CP8121). Singapore Polytechnic.

Nothing

Asp Facility The Central Bank of the Philippines also known as the â€Å"Bangkok Central nag Philippians† was established during the regime of Ferdinand E. Marco's. Its main objective is to manage the monetary policy and collect all the important wealth of our country. Our tour was In the Security Plant Complex of the BSP where the production of money and refinery of gold takes place. These two things are the blood of our economy that Is Important for us to achieve higher standards of competitive advantage over other SEAN countries.The Security Plant Complex or SSP of the Bangkok Central nag Pleasant was designed nearly for the prevention of copying our money supply. The overall structure of the compound Is a very unique one, making It a giant fortress Inside the city. Security measurements are high Like the censored doors, tinted mirrors, hardened walls, and exceptional level of technology enhancement. If we are going to talk about their machineries that they use in manufactu ring and producing money, basing it from money reserved inside the facility, they still waste a lot of raw money (moneys that aren't accepted because of some deficiencies).Lastly in terms of structural quality, I an say that it is a solid 10 because they have figure out how to give a pleasant atmosphere from the hallways up to the manufacturing facilities. Video-showing The Video showing we watched was about the History of our money, from the first generation to the modern generation of money and how these things are being created. They also let us watched how to create our money, the security features of each of our money have and the refinery of gold in the Philippines.History of Money The whole video was a good reference of the Philippines' money history. They told us hat from coins, they have started creating bills in the Spanish Era to lessen the cost of production. In the American Era they have known our currency as the English Series since the American overtook us that time. That time was a big boom for the Philippine economy that's why the â€Å"English series† was replaced by its new formal name the â€Å"Filipino series†. After the People Power Revolution, the establishment of â€Å"Basing Albanian† banknotes took place and replace the older banknotes.Lastly, the establishment of the BSP diminished all the remaining banknotes to create a more specific note that the people will accept as a legal tender. Last year they have created new banknote bills that are known as the modern generation of bills. These bills have special security features that prevent other people from copying and creating replicas. Bills that have lower value have lower safety features while bills with higher values have a higher safety features. This way of security is for the stability and safety of our Monetary Policy.Gold Refinery The SSP is also responsible for the refining the gold that is being legally sold to our country. They do this process to weld th e gold into formal shapes which is stored somewhere in our country. The first process of refinery is melting the collected gold for it to be malleable and to turn into a formal shape. The next step is for the blacksmith to put the gold in a plate where it can be shaped. The last step is to wait for the gold to be cold enough to be handled by tongs and put it in the reservoir. This process is important to easily count and weigh the gold that is collected.The video also told us that even the dresses they used in the process are filtered because of the gold dusts it contains. The SSP always need to keep in touch with these things to protect our gold reserves. After the video, we then moved on to the tour around the production facility. They showed to us the facilities they used to process the things that we call the legal tender. The following below are the stages of creating banknotes; 0 Simultaneous printing The first process is simultaneous printing. The paper they used is 80% cotto n and 20% abaca. For the ink to permanently stay on the paper, they must wait a week for it to be fully dry.Intaglio printing The second process is called intaglio. This is where they carved ink in the paper to make it look better and more appealing to the user. Checking This process is where they will check whether the money is acceptable in the market or not. This will also tell if the money is ready to be distributed or to be reused. Releasing The last process is the releasing of the money to the economy by distributing into different banks in the Philippines (they Just told us this process). As the day goes by, they produce thousands of bill yet they also waste thousands of it. This is because not every machine produces perfect printed money.During the Printing process, they also apply the intaglio and the serial number of the paper. Even if the money already had a serial number, it is still not acceptable not unless verified by the government. But before the verification, they must still check whether the money is acceptable or not. They have 2 ways of checking bills; automatic and manual. If a checker randomly pick 10 sheets of paper and all of it are in printed perfect, then the whole set where the 10 sheets are taken is sent to automatic checking but if one of them is not in good condition, then the whole set where the sheets is taken will be sent in manual checking.In automatic checking, they directly .NET the set of sheets in the intaglio process while in the manual process, each sheet in the set is checked for security measures. After all the acceptable sheet is collected it goes to numbering and then verifying. Lastly, the printed money is reserved for future purposes. Security documents and Special Medals While in the middle of the tour, we also saw that bills are not the only thing that they produced but also security documents like passports and land titles. They said that it will be much easier for them to produce it here than any other place f or security.We awe how they compile each paper turning it into a new and ready to use passports. Use in creating these kinds of titles. It a bright yellow-green paper and has a border. They also produce special medals like honor medals and presidential medals which is used in special events. This medal is commonly made in gold that came from our gold reserves. Coins After touring us in the bills and documents facilities, they then took us in the coins compiling facilities. Here are the stages of coin processing; Production of blank coins Our tour guide said that the blank coins we used came from South Korea.These coins are made from nickel and silver and as same as the value of what it says. For example, a one peso coin also has a value of one peso in terms of metal value. This is used for the security value of the money and will prevent melting of coins to gain more money. Carving of coins The next process after the shipment of the coins is carving it into money which it will be us ed as a legal coin. They used a machine to do this process due to the supply. Compiling In this process they used a machine to produce a set of coins which is for the distribution of the coins.The machines cover the set with paper and then sent to another machine which sends the set of coins into a box where it will be distributed. The end of tour The tour guide said that the main objective of this Facility is to protect and create the monetary supply. We all know that the BSP objective is to stabilize the financial status of the economy. To do this, they must balance the monetary supply to prevent it from being produced by others using its security features. They must realize that they are one of the most important sectors of the government and without them; here will be no balance in the country.BSP as a whole, our tour guide said, is a foundation of the economies wealth and sustainability. BSP keeps the economy balance by controlling and regulating the monetary policy and managin g all the banking and non-banking institutions in the country. Before we end our tour, our tour guide lets us ask questions about the tour. Most of us ask about the security measures of each bill and how can we really distinguish the real from the fake. The guide tells us that they sell simple Before we leave, she asks us if we want to buy some old commemorative bills. These ills have no monetary value but only as a souvenir.Some of bought some of it but I think that they Just waste their money because they Just used it to buy a non-legal Recommendation The Tour First of all, the tour is very educational but boring. So boring that the only thing that keeps me from sleeping and listening is myself chatting with others. They should have given us good tour guides which have both the skill and the charm. Second, they should only allow the tour if there is an activity in the refinery because it's so unfair if only others saw it or much better if all the tour schedules is at the same date which the gold will be refined.Lastly, they should also make the tour a happy one that will cheer the student from listening. The Facilities Their facilities are good but they should also realize in wasted materials they used in creating bills and other products. As I have said before, they still waste thousands of bills and also thousands of products that should have been already distributed or used as a reservation for the future cases. They should improve their machineries and increase its accuracy to achieve a better potential and maximize our resources. The VideoThe video is also a life learning footage but it's a little bit boring because all it does is explain and tackle everything about the history of money. They should apply at least some real life footage Just to wake us up or boost us. They could also use some games or tricks Just to keeps us in touch in them or make them see if we are still listening or not. The SSP The Sports complex must add more features in managing the whole process of manufacturing our monetary supply. To sum it up, they still need manage more things to do its duties and obligations in our country. Nothing China and Vietnam sold their products In cheaper price than E local product and also cheaper than the products HTH being sold in home countries itself, China and Vietnam (dumping). In EX. point of view, China and Vietnam are market economies which means that those two countries domestic prices are artificial.According to financial times, anti dumping usually used in large scale business and capital intensive like steel and in this context, shoes making is not one of those. Shoes are not the only product that protected by anti dumping in ELI. In 2005, bicycle industry also being protected by anti dumping against China and Vietnam products. Some observers think that it was unfair to combine Vietnamese and Chinese product In the same trade slut but In other hand, European semicolons conclude that Vietnam and China bicycle have same type and distribution.The anta mumping causes low Import shoes product from China and Vietnam and It become opportunity to other country to enter the market since E consists of lots of countries and consumers. CASE 8- I DISCUSSION QUESTION 1 . When tariffs are imposed on European imports of shoes from China and Vietnam, who stands to gain? Who stands to lose? In the situation when tariffs are imposed against China and Vietnam, E countries will get more gain because if China and Vietnam still want to enter Ex.'s market, they must pay high tariff to E government which means, high Income for ELI.In addition, the situation can also give advantage for other country such as Indonesia to enter the market because E not Imposed ant' dumping to Indonesian product, yet. Surely, the situation will make China and Vietnam go Into collapse because they must pay high tariff with uncertain profits. 2. European policy makers object to the fact that some Asian shoe production is government seized. But as an editorial in the Financial times noted † If Beijing and Hanoi want to subsidize European consumers to build their shoe collections, let them .Do you agree? I'm not agree with that. In my opinion, government of China and Vietnam have reason why they subsidize shoe production and that reason is to fulfill their people's need rather than to fulfill other countries people. Penthouse exporting the products to other country can give Income to government but I think It will be better for them to satisfy local people need first and they can satisfy other countries need next. 3. Antiquating countries can be described as a form of protectionism. As the global retentions.Is this a positive trend or are such policies likely to prolong the recession? In my opinion, anti dumping can be described as protection to local product against the import one. Local product can help countries to help from crisis because the money flow only happened in one country. I think it is a positive trend and can make a country become more independent and survive from the crisis. If they don't do antiquating, it can can harm their local product, make them mor e dependent to other country. Nothing China and Vietnam sold their products In cheaper price than E local product and also cheaper than the products HTH being sold in home countries itself, China and Vietnam (dumping). In EX. point of view, China and Vietnam are market economies which means that those two countries domestic prices are artificial.According to financial times, anti dumping usually used in large scale business and capital intensive like steel and in this context, shoes making is not one of those. Shoes are not the only product that protected by anti dumping in ELI. In 2005, bicycle industry also being protected by anti dumping against China and Vietnam products. Some observers think that it was unfair to combine Vietnamese and Chinese product In the same trade slut but In other hand, European semicolons conclude that Vietnam and China bicycle have same type and distribution.The anta mumping causes low Import shoes product from China and Vietnam and It become opportunity to other country to enter the market since E consists of lots of countries and consumers. CASE 8- I DISCUSSION QUESTION 1 . When tariffs are imposed on European imports of shoes from China and Vietnam, who stands to gain? Who stands to lose? In the situation when tariffs are imposed against China and Vietnam, E countries will get more gain because if China and Vietnam still want to enter Ex.'s market, they must pay high tariff to E government which means, high Income for ELI.In addition, the situation can also give advantage for other country such as Indonesia to enter the market because E not Imposed ant' dumping to Indonesian product, yet. Surely, the situation will make China and Vietnam go Into collapse because they must pay high tariff with uncertain profits. 2. European policy makers object to the fact that some Asian shoe production is government seized. But as an editorial in the Financial times noted † If Beijing and Hanoi want to subsidize European consumers to build their shoe collections, let them .Do you agree? I'm not agree with that. In my opinion, government of China and Vietnam have reason why they subsidize shoe production and that reason is to fulfill their people's need rather than to fulfill other countries people. Penthouse exporting the products to other country can give Income to government but I think It will be better for them to satisfy local people need first and they can satisfy other countries need next. 3. Antiquating countries can be described as a form of protectionism. As the global retentions.Is this a positive trend or are such policies likely to prolong the recession? In my opinion, anti dumping can be described as protection to local product against the import one. Local product can help countries to help from crisis because the money flow only happened in one country. I think it is a positive trend and can make a country become more independent and survive from the crisis. If they don't do antiquating, it can can harm their local product, make them mor e dependent to other country.