Principals-Agents Conflict of Interest - 1798 Words

Cynthia Claude Nkono Moanang 1009040 CORPORATE GOVERNANCE AND BUSINESS ETHICS ASSIGNMENT TOPIC: Principals (shareholders) – agent (managers) problem represents the conflict of interest between management and owners. For example, if shareholders cannot effectively monitor the managers’ behaviour, then managers may be tempted to use the firm’s assets for their own ends, all at the expenses of shareholders. Discuss the pros and cons of this statement with regard to duties of Board of Directors. Most organisations these days are no more owned by their managers. This separation of ownership and management gives rise to what is called agency relationship. Jensen and Meckling (1976) define the agency relationship as†¦show more content†¦They must continuously review the performance of the chief executive to ensure that managerial actions are in line with shareholders wishes and given that they are accountable to the former, they have to report to them about the overall organisational performance. Regarding their duty of loyalty, directors must pre vent conflict of interest by avoiding transactions which may generate a potential conflict; those transactions according to Professor Bernard S. Black of Standford Law School in an article entitled The principal Fiduciary Duties of Boards of Directors are called â€Å" self-dealing â€Å" transactions. Representing at the same time the boss to one extend and the subordinate to another extend, directors must make sure never to act in ways that will harm either the shareholders or the executives, treat both parties with care and respect and try to make good decisions i.e. that will compromise none of the parties, but which will be profitable to the firm. Also, board members have the duty to keep private all dealings, matters and information from the board meeting and the company in order to avoid the disclosure or misuse of information which may lead to a conflict. From the study of board members duties, we can state that companies’ corporate governance rests mostly on their shoulders. So, when effective, it permits the realisation of corporate objectives, risk management, the reduction of agency problems and an increase in the value of theShow MoreRelatedFunctions Of The Principal Multi Agent Relationship Matters Essay1008 Words   |  5 PagesEven if agents mobilize around CVE, implementation still may not occur. After the mobilization stage, agents need to determine what the actual programs will encompass and what service providers will implement these programs. I argue that implementation may fail to occur due to coordination problems that arise within the planning stage based on the way decisions are made. For implementation purposes, the structure of the principal-multi-agent relationship matters. The implementation of CVE involvesRead MoreAgency Problem Essay 91404 Words   |  6 Pages Economic science teaches us that due to their subjective needs, individuals have subjective preferences, and hence different interest. Occasionally different subjective interests give rise to conflicts of interest between contracting partners. These conflicts of interest may result in turn, in one or both parties undertaking actions that may be against the interest of the other contracting partner. The primary reason for the divergence of objectives between managers and shareholders has beenRead MoreAgency Conflict1111 Words   |  5 PagesAgency Conflicts: An agency relationship arises whenever someone, called a principal, hires someone else called an agent, to perform some service, and the principal delegated decisions making authority to the agent. In companies, the primary agency relationships are between: 1. Conflicts between stockholders and creditors 2. Conflicts between Inside Owner/Managers and outside owners 3. Conflicts between managers and shareholders Conflicts between stockholders and creditors Conflict betweenRead MoreFactors Determining The Form Of Legal Business Entity1388 Words   |  6 Pagesthe license to start operations. Types of Agents That Exist in the Law Relative to Business Entities In sole proprietorship, the owner of the business is the only agent responsible for all the legal operations of the firm. However, if he legally hires an assistant to help in the operations of the business, then the assistant will also be a legal agent acting on behalf of the owner. In partnerships, all the partners and their employees are the legal agents of the business. In limited liability companiesRead MoreAccording To The Text, It Says That â€Å"Liability For Contracts844 Words   |  4 Pagescontracts formed by an agent depends on how the principal is classified and on whether the actions of the agent were authorized or unauthorized. Principals are classified as disclosed, or undisclosed† (Roger, LeRoy, Miller). â€Å"A partially disclosed principal is a principal whose identity is not known by the third party know that the agent is or may be acting for a principal at the time the contract is made† (Roger, LeRoy, Miller). â€Å"An undisclosed principal is a principal whose identity is totallyRead MoreDifference Between Stockholder And Stakeholders1053 Words   |  5 PagesChapter 11 1. What is the difference between stockholder and stakeholders to a company A company’s stakeholders are individuals or groups with an interest, claim, or stake in the company, in what it does, and in how well it performs. They include stockholders, creditors, employee customers, the communities in which the company does business, and the general public. A company’s stockholders are usually put in a different class from other stakeholder groups, and for good reason. Stockholders are legalRead MoreAssessing The Goals Of The Principal And Agents Will Help Mitigate The Agency Problem1378 Words   |  6 Pagesconflicting with project manager’s responsibility. Therefore, aligning the goals of both the principal and agents will help mitigate the agency problem. Beringer et al., (2012) argued that role clarity and understanding organisation maturity allow principals and agents to become more effective when they understand what must be accomplished. In project managements, lack of clarity in roles leads to well-intended but ill-resulted intervention. Role clarity indicates whether each task is preformed exclusivelyRead MoreAgency Theory Is Used to Explain Executive Pay Essay1256 Words   |  6 Pages Agency theory has often been used by economists to explain executive pay. Both executives and shareholders may have divergent interests and risk profiles under agency theory. For instance, executives view their interest in profits as a bonus in contrast to shareholders that consider their interest to be dividends and capital gains. With divergent interests, executives may prefer to avoid risking company assets or resources to protect their jobs. That is, a risk that fails can put executives outRead MoreEssay about Ethical Challenges and Agency Issues1725 Words   |  7 Pagesethical lapses† (Federwisch). Based on the case study, â€Å"Level of Executive Pay† the Chairperson of NYSE is compensated $1.4 million in salary and $1 million in bonuses. This shows he was greedy and his goal was to maximize profit for his personal interest. Individuals should take responsibility of their organization’s financial security. For example, as in the case study, â€Å"Timely Reporting of Budget Problems† the client failed to provide auditors with appropriate records to complete the audit.Read MoreMaximizing Shareholder Value926 Words   |  4 Pagesare shareholders, creditors, managers, employees, customers, suppliers, governments and a variety of special interest groups. The objectives of these different types of participants are likely to be in conflict. But the main focus and objective of every firm and its members should be maximizing value. But whose value should be maximized? It should be shareholders value. The main conflict comes when other members of the firm or other stakeholders try to maximize their own expected wealth. That

A Jewish Reading of Milton Essay - 3143 Words

A Jewish Reading of Milton John Milton produced some of the most memorable Christian texts in English literature. Central pieces of Milton’s work, including Paradise Lost and Samson Agonistes, specifically allude to stories that Judaism and Christianity hold in common. Historically, the anti-monarchical regime Milton supported, under the leadership of Cromwell, informally allowed Jews back into England in 1655 after Edward I exiled them in 1290 (Trepp 151). Additionally, seventeenth-century British Christians looked increasingly to Jewish texts to understand their own religion (e.g. Robert Ainsworth and John Seldon), with Hebraic studies from German scholarship and Latin translations of Jewish texts entering during the†¦show more content†¦Werman concludes from various linguistic inaccuracies in Milton’s work that he used the Greek or newly available Latin translations of all Jewish sources except actual Hebrew Scripture and its Targum, the Aramaic translation (Werman 30-33). While sh e concurs with Rosenblatt that halakhic (legal) information came from fellow Christian Hebraist John Selden, she argues that Milton received aggadic midrash (non-legal commentary and extra-biblical legends) from Jewish authors (6). Werman also marshals considerable evidence of Milton’s sharp selectivity with sources. He preferred Josephus and Philo while dismissing Talmudic midrashim as Pharisaic fables (38-39). Werman even claims that Milton’s acceptance of a particular commentary depended less on its content and more on the source from which it came, citing examples of Talmudic midrash that Milton accepted because they were explained in Josephus (39). My topic primarily concerns Milton’s incorporation of Jewish subject matter into his own work, not with the linguistic or physical availability of Hebrew/Aramaic texts, and since Milton’s secondary sources usually provide reliable information, I do not address the source debate unless problems do arise . Before exploring Milton’s respect for Jewish commentary, however, readers should also appreciate the limits of this respect within its religious contexts. Some Miltonic agreement with JudaismShow MoreRelatedLiterary Masterpieces Matrix1186 Words   |  5 Pagesapproached this way; it also functions better as a foundation for your Learning Team paper—The Literary Masterpiece in Contemporary Society Paper—due in Week Five. Note. Ancient and classical literature are grouped together in the first weeks readings, but they are separated here to sharpen your understanding of the distinctions between the two periods. | |Thematic Focus |Literary Qualities |Shared Characteristics |Influence of Earlier | | Read MoreHistory of Photography: Annotated Bibliography1047 Words   |  4 Pagesbelieve they are continuous and therefore moving. The expanded field includes television, gaming, and the Internet. The author articulates the struggle for photography to remain fixed yet to continuously transform and influence other forms. Brown, Milton W. The History of Photography as Art History. Art Journal, Vol. 31, No. 1, 31 36, 1971. By this point in American history, photography was now considered a worthy discipline of academic study. Photography, photography as art history, and otherRead MoreThe Western Relationship With Nature1735 Words   |  7 Pagesand social issues that are present in today’s world are entangled by a certain subset of Western or European set of values denoting how to interact with the environment. These generally center around the notions of ‘development’ and ‘modernity’. Reading widely on the topic, one finds most of the literature of non-western ideals of nature are centered upon ‘traditional’ and religious views of environment. Traditional as in the constructs of nature were largely based on myths and stories, which areRead MoreReflection On And Comparison Of Religions1598 Words   |  7 Pagestheology. I came across J. Milton Yinger’s (1969) structural examination of religion in which he proposed that the actual sociology behind the spiritual doctrine often becomes the invisible aspect of the practice. He argues that instead of asking if the individual is religious, the question should be how he/she is religious (1969). This notion brings the invisible aspect of religion back to life and allows one to express their subjective spiritual experience. After reading Yinger’s perspective on religionRead More Mary Shelleys Frankenstein and Satanic-Promethean Ideals Essay2862 Words   |  12 Pagesand Satanic-Promethean Ideals      Ã‚  Ã‚   Mary Shelleys Frankenstein is a novel in conscious dialogue with canonical classics and contemporary works. It contains references to Coleridge, Wordsworth, and P. B. Shelley, but also to Cervantes and Milton. It is the latters Paradise Lost which informs the themes and structure of the novel more than any other source. Like many of her contemporaries, Mary Shelley draws parallels between Miltons Satan and the Titan Prometheus of Greek myth. HoweverRead More Childrens Literature and the Holocaust Essay2097 Words   |  9 Pages Children’s Literature and the Holocaust nbsp;nbsp;nbsp;nbsp;nbsp;During the 1940’s Jewish Europeans experienced an unthinkable and atrocious collective trauma. In her work â€Å"Survivor-Parents and Their Children† taken from the anthology Generations of the Holocaust, Judith S. Kestenberg has argued that regardless of location, the effects of the Holocaust are felt on survivors parenting. The children of survivors receive a secondary traumatic impact by being forced to deal with the impact theRead MoreHunger Games Personal Narrative1965 Words   |  8 Pages I absolutely love reading, I could spend hours curled up in bed with a good book. Being the voracious reader I am fantasizes about what my life would be like if I was the protagonist in one of these stories. By the time the first Hunger Games movie came about in 2012 I was in the sixth grade and absolutely obsessed. I had all the books, magazines, posters and even pillowcases. Naturally I started to compare all of my school experiences to the Natio n of Panem and I was protagonist Katniss EverdeenRead MoreEvaluate the Claim That Migration Creates Global Connections.1806 Words   |  8 Pageshaving shared links to a common home is described as diaspora, when a group with shared connections will recognise the cultural commonality between each other, despite being geographically dispersed, this can be viewed in different categories, Jewish diaspora is usually viewed as victim diaspora because of their shared history of exclusion and Chinese diaspora is described as entrepreneurial as many Chinese travel outside of China to set up businesses whilst using their connections withinRead MoreThe Pros and Cons of Adolf Hitler Essay2475 Words   |  10 Pagespropaganda which stereotyped other races, brainwashed almost the whole country of Germany, and scapegoat other races and ethnicities (mainly minorities such as Jews). Since Hitler wanted what was best for his country, he decided to quarantine the entire Jewish population and then m ove them into concentration camps. In the aftermath, over six million Jews were slaughtered because he believed it was the correct way to â€Å"purify† his country. Hitler did an excellent job giving his people self-confidence. Read More Imagination and the Holocaust Essay example2748 Words   |  11 Pagesdreaded names of the Holocaust. What if I imagined myself Mengele, placing myself at the head of the selection line? I refuse to imagine myself Mengele, but I can still sense what it is like to be him. He has borrowed a conductors wand from the Jewish band he forces to play during executions. Perhaps, he is hearing a Bach fugue in his mind as his conductors baton waves to the left and then to the right. He is deciding, perhaps, not only who will live and die but who among the living and dead will

The Patriot Act Free Essays

The United States 9/11 attack has marked a significant event in the history. The attack against USA was a proof that even strong and imperialist countries are never safe at any time. It has severely damaged the US reputation and challenged them further – economically, politically and socially. We will write a custom essay sample on The Patriot Act or any similar topic only for you Order Now This system reluctance has made citizens and government more vigilant of their safety, and consequently it led US into formally launching laws and policies that aimed to strengthen their defenses against terrorist activities. Immediately following the 9/11 attack, the US government was fast into amending the US Patriotic Act (Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism). This act contains 157 sections, which includes legal responses to assist terrorist victims, protect civilians from fake solicitations, and provide benefits for public safety (Perez, 2003). The act gave more ability to the law enforcement bodies to investigate on cases suspected to involve local and foreign terrorist activities, more power to target monetary transactions that possibly induced terrorist connections and filter against all electronic communication devices that may be infiltrated by terrorist activities (Gable). According to the US government and its supporters, the US Patriot Act shall be able to reveres terrorism efforts and effects in several ways: (1) The Patriot Act allows investigators to use the tools that were already available to investigate organized crime and drug trafficking; (2) The Patriot Act facilitated information sharing and cooperation among government agencies so that they can better â€Å"connect the dots. â€Å"; (3) The Patriot Act updated the law to reflect new technologies and new threats and; (4) The Patriot Act increased the penalties for those who commit terrorist crimes (The USA Patriotic Act: Preserving Life and Liberty, pp. 1-4). However, several years have passed since the attack and since the start of the implementation of the act, numerous claims of its inefficacy have emerged; moreover, instead of its benefits being publicized, its negative implications and results are rather more rampant. Shortly two years since the 9/11 occurrence, and even right at the moment that we speak, numerous cases of violations of human liberties have bee n reported to have thwarted the civilian. More so, it has nourished the feeling of discontent and dissent over concerned citizens as the act continued its â€Å"rampage against terrorism. † What the act has merely done is to limit the privacy of the civilians. The act has legalized all sorts of interferences towards the private messages and way of communication that every individual goes through against their will, and even behind private citizens’ knowledge and consent (Kranich, 2003). The act, though it has indeed signaled the intensified battle against terrorism, it has also catered the arena that strengthened the backbone for government intervention against private citizens. Ironically though, the same provisions that are supposedly and potentially to be of important use in order to eliminate terrorist activities, are the same provisions that have suppressed the liberty of individuals and have further violated human rights in a number of ways. Amidst the oppositions from concerned groups against the passage and the continuity of the amendment, still the US government pursued its interest to counter terrorism even against the will and support of a large part of the American citizens, as well as other citizens around the world. Now, looking back at the instances starting from the attack, towards the end wherein the US legalized such provisions for the US Patriot Act – it is only rational to take a look on what it has caused and asses if the result was worth taking the risk once more if the provisions of the act are to be renewed. Personally, if I were to take a vote on whether the act should be renewed, I would rather have it reassessed first and point out the blunders that have caused too much opposition against it. At one point, the act was passed under limited time and too much pressure from the international community as it was enacted shortly after the 9/11 attack, it is enough to say that it was passed without proper deliberations (Van Bergen, 2002) Moreover, changes are really ought to be done in order to create a just and equal standpoint in battling against terrorism. One thing that should be changed is the utter disrespect against individual liberty that it encourages. Anything that directly and deliberately limits and suppresses the freedom and privacy of an individual must be opposed just because of mere suspicions. If anything must be done that shall violate the rights of the individuals, proper investigation must take recourse and until sufficient information are gathered, no one holds the right to interfere against anyone’s privacy. Though the US Patriot Act was implemented in its goal to counter terrorist attacks and to further protect the welfare of the American citizens, as well as other citizens in world but, it should not be forgotten that the basic right to freedom of the individuals should not be put at stake. Countrywide safety is really important, however, to totally violate the human rights is also as dangerous as what terrorism can bring, thus justifying the changes, if not the repeal of the US Patriot Act. References Department of Justice. The USA Patriotic Act: Preserving Life and Liberty. Retrieved from Life and Liberty database Gable, Garrett. Effects of the USA Patriot Act. Retrieved December 2, 2007 from http://people. cornellcollege. edu/G-Gable/USAPA. htm Kranich, Nancy. (2003) The Impact of USA Patriot Act: An Update. Retrieved December 2, 2007 from http://www. fepproject. org/commentaries/patriotactupdate. html Perez, Paul. 2003. USA Patriot Act helps efforts to combat terrorism. Retrieved December 2, 2007 from St. Petersburg Times Van Bergen, Jennifer. 2002. Repeal the USA Patriot Act. Retrieved December 2, 2007 from www. truthout. org How to cite The Patriot Act, Papers The Patriot Act Free Essays After the United States was attacked in the infamous 9/11 episode, the United States enacted the United States of 2001 on October 24, 2001 (Mil Net, 2001). The law was passed without any objections to the passage of the law, and was signed by President Bush on October 26 of the same year (Encarta, 2008). The Patriot Act is considered as the centerpiece legislation of the United States’ response to the September 11, 2001 tragedy (John Gamboa, 2008). We will write a custom essay sample on The Patriot Act or any similar topic only for you Order Now The law by its defintion is a tool that aims to strengthen the instruments of the law enforcement arms of the state, especially its police and prosecutin arms, with the goal of preventing attacks of this kind in the future (Encarta, 2008). The act itself lays out specific rules on surveillance, intelligence gathering and sharing among law enforcement units, money laundering, security at entrance and exit points of the country and criminal law among others (Gamboa, 2008). In conjuction with the applicability of other statutes, has in fact given more foundation to the civil freedoms and rights of people (Paul Rosenweig, Alane Kochems James Jay Carafano, 2004). To prevent abuse, the Act has been one of the most extensive reporting procedures attached on any law (Rosenweig, Kochems Carafano, 2004). But the question lies not in the benefits, but whether the law should be encated as is, with amendments or totally scrapped. Many critics of the Act have demonized the legislation as an instrument of abuse and a threat to individual rights (Paul Rosenweig, 2004). In the lifetime of the Act, many of the provisions in the law have either been amended, changed and re-worded to effect changes in the law to make it adapt to broader changes to attain less then defined and specific goals (Gamboa, 2008). But after all the smoke of critcism has cleared, one thing is still evident, the Act is still a very important tool in the fight against terrorism (Rosenweig, 2004). In the past, law enforcement groups were limited in the amount and quality of information that they could pass on to each other. The Act virtually did away with that limitation (Rosenweig, 2004). In this light, a majority of Americans, about 60 percent, are in favor of re-enacting that Act, but oppose any additional powers given to entities like the Federal Bureau of Investigation, like access to electronic mail, issuing subpoenas (Gary Langer, 2005) and to limit the access or rights of immigrants on U. S soil (New York Civil Liberties Union, 2005). Congress, basing on the utility of the Act, must enact the Act, subject to thorough study and discussion. Under the current ambit of the law, it is the people of the United States that are more apprehensive of the law than the intended terrorist targets (Gamboa, 2008). Many of the oppositors of the Act even claim that the law was just a cover for some law enforcement agencies to obtain the new expanded powers in the Act (Encarta, 2008). But again, the law and its effects would be more beneficial than the percieved threats to the citizenry (Rosenweig, Kochems Carafano, 2004). And that is where the powers and wisdom of the members of Congress must step in to review and take action against the threats that the Act has seemed to conjure up (Rosenweig, Kochems Carafano, 2004). References Gamboa, J. B. (2008, September 11). The Patriot Act. The Daily Aztec -9/11 where are we now http://media. www. thedailyaztec. com/media/storage/ paper741/news/2008/09/11/911WhereAreWeNow/The-Patriot. Act-3425472. shtml Langer, G. (2005). Poll: support seen for Patriot Act. Retrieved September 25, 2008, from http://abcnews. go. com/US/PollVault/story? id=833703 Mil Net. (2001). U. S. Patriot Act of 2001. Retrieved September 25, 2008, from http://www. milnet. com/pat-act-HR3162. htm MSN Encarta. (2008). Patriot Act. Retrieved September 25, 2008, from http://encarta. msn. com/encyclopedia_701712693_3/Patriot_Act. html New York Civil Liberties Union. (2005). Oppose expansion of USA Patriot Act. Retrieved September 25, 2008, from http://ga1. org/nyclu/alert-description. html? alert_id=1303074 Rosenweig, P. (2004). United States. Retrieved September 25, 2008, from http://italianlibertarians. tripod. com/id12. html Rosenweig, P. , Kochems, A. James Jay Carafano, J. J. ( 2004). The Parito Act reader: understanding the law’s role in the global war on terrorism. Retriieved September 25, 2008, from http://www. heritage. org/Research/HomelandDefense/upload/69895_1. pdf How to cite The Patriot Act, Papers

Ptsd Annotated Bibliography free essay sample

Some problems that soldiers face in not seeking treatment is that they think they can cope with the problem themselves, they think that others can’t help them, or some think the problem will just go away on its own, and also some are embarrassed to talk to someone else about the problems that they are facing. Some of the signs to watch for in someone returning from war are problems in their relationships, poor performance and attendance in school or work, and if they have thoughts of hurting someone or themselves. The earlier that treatment is sought, the easier it will be to prevent problems that could occur. Minear, Larry Larry, Bob Bob Patrick, and Richard Richard G. Lugar. Through Veterans Eyes, The Iraq And Afghanistan Experience. Potomac Books Inc, 2012. . On page 158 of this book it points out that a RAND report in 2008 found that an estimated 300,000 service personnel from Iraq and Afghanistan were suffering from PTSD or major depression. We will write a custom essay sample on Ptsd Annotated Bibliography or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The RAND report also found that only about half of those affected had sought help, and out of those that did seek help about half of them received â€Å"minimally adequate treatment†. It is estimated that the cost of treating every one of the 300,000 PTSD cases is about $660 billion. PTSD is also linked to the doubling of the suicide rate of the personnel returning from Afghanistan and Iraq. Husted, Kristen risten N. , and Capella Capella University. School of Psychology. Rural Living Combat Veteransan Exploration On Issues With Post Traumatic Stress Disorder And Reintegration Post Combat-returning To A Small Town. ProQuest, 2008. . This was a study done about the difference of effects of PTSD on rural and non-rural veterans. The results indicate a significant difference in adjustment and symptoms of PTSD amongst rural combat veterans when compared to non-rural combat veterans. Second, the rural combat veterans’ perception of their reintegration experience is unique. Lastly, the rural combat veterans’ reintegration is process is perceived as significantly different than the non-combat veterans. War Crimes. Pro. Alex Simmons. Vanguard. Web. 8 July 2010 This documentary researched PTSD in veterans of Iraq by looking at the high rates of veterans of this war being in prison. They focused on two main cases, but talked about the growing amount. One was of a guy that was awaiting trial for murder of his girlfriend. She had been strangled to death. He had no recollection of doing anything, but he was believed to be the one that killed her. These cases of veterans blacking out are very common. They happen sometimes while sleeping and sometimes while the person is awake. Another case they looked at was a veteran that shot a guy that raped his girlfriend 6 times. He claims to only remember going over to the victim’s house and getting shoved. The next thing he remembered was coming to in an orange jumpsuit not knowing what had happened. Carlson, Eve, et al. United States. Iraq War Clinition Guide. Web. . Site N/A at this time.