Prostitution in the United States Research Paper

Prostitution in the United States - Research Paper Example By recognizing the most significant elements encompassing the issue of prostitution, further exploration should be possible to address each issue in more detail. This investigation will utilize the meaning of prostitution gave by Murphy: â€Å"the trade of sexual administrations for financial compensation† (775). To all the more likely comprehend the chronicled setting and contemporary circumstance of prostitution in the U.S., a general survey of the writing was directed. Who turns into a whore? Anybody could turn into a whore, but then the ladies that do will in general have some normal characteristics. Their childhoods are frequently as dangerous as their adulthoods, and ladies who pick prostitution have regularly experienced explicit and unsurprising youth encounters. Valera et al. report that practically 50% of an example of whores detailed encountering undesirable sexual contact with respect to a grown-up during their adolescence. In a similar example, 39% of ladies likew ise revealed having been mishandled by a gatekeeper to the point of injury (Valera et al.). Edwards, Halpern, and Wechsberg portray both a past filled with youngster misuse and the nearness of mental trouble as indicators of prostitution. In another investigation by Farley and Barkan, 57% of whores revealed enduring rape during adolescence and 49% detailed having been genuinely ambushed. Obviously, the youth encounters of these ladies staggeringly affect them that is dependable. Tragically, youth misuse isn't the main maltreatment whores understanding, regardless of whether it is the first. Numerous whores have experienced maltreatment and abuse men their whole carries on with, first through relatives and later from pimps and customers (Carter and Dalla). These and the recently portrayed variables appear to highlight an association between youth misuse and grown-up prostitution, with the goal that some mediating reaction procedure to the prior maltreatment puts these ladies at a mor e serious hazard for prostitution. There are a few recognizable financial elements at work in the narratives of ladies who become whores (Burnette et al.). Ladies who become whores have lower paces of training and higher paces of vagrancy when contrasted with non-whores (Burnette, Schneider, Ilgen, and Timko). Obviously, without financial need or a medication propensity, these ladies would not be spurred to participate in prostitution (Murphy). Given different assets for financial help, these ladies would not have to go to prostitution. Financial conditions that may add to a woman’s proceeding with commitment in prostitution incorporate a helpless economy with a vocation deficiency. Ladies keen on leaving prostitution and seeking after standard work might be obstructed by the contemporary monetary atmosphere and its deficiency of new openings. There are different qualities that can anticipate whether a lady is probably going to turn into a whore. For instance, ladies who are dependent on drugs are significantly more liable to become whores than ladies without substance misuse issues (Burnette et al.). As they sink further into medicate misuse, their capacity to pick up or keep up conventional work is ruined. Through prostitution, they can proceed with the pattern of their compulsion and bring in cash to keep purchasing more medications. They may even meet a street pharmacist who is likewise a pimp, and engage with prostitution through his plan. Medication addicts are more

Manifestations of Personal Freedom in Protagonists with Differing Essay

Indications of Personal Freedom in Protagonists with Differing Backgrounds - Essay Example From one perspective Jake’s temper and his needs don't change at all while Nea’s relationship with Sourdi changes yet doesn't end through and through. Jake is depicted as an ordinary rural white adolescent kid in the story â€Å"Love in L.A.† and his projection on life and its issues doesn't change from begin to end. In the beginning Jake â€Å"needed a FM radio in an option that could be better than this ’58 Buick he drove† just as a â€Å"crushed velvet inside with electric controls for the L.A. summer.† After his experience with Mariana, Jake backslides into his past line of reasoning as â€Å"he couldn’t stop the idea about that FM sound system radio and squashed velvet inside and the new vehicle smell that would even make it better.† conversely Nea can be seen growing new points of view on the connection between her sister and herself without changing the essential structure of the relationship. The blade assault on the cli ent in the eatery mirrors that Nea was all set to any length to secure her sister. Also the creator thinks about their closeness by remarking that the two sisters intended to flee with Sourdi being her lawful watchman. Anyway as the story creates, Nea understands that her relationship with Sourdi is coming to â€Å"a fork† and not to â€Å"crossroads† which connotes that their closeness is dissipating. In spite of the fact that this component of the relationship adjusts yet Nea’s defense of her sister doesn't change by any means. Indeed Nea goes to incredible difficulty to visit Sourdi’s house â€Å"a great six hours drive† through downpour and snow to check whether she has been beaten by her significant other. Another observable contrast among Jake and Nea are their responses to social upgrades. As noted before Jake experiences Mariana and afterward perseveres in his mood without changing his demeanor or point of view on life. Then again Nea in th e long run goes to the acknowledgment that she can do little to change the current conditions. May Lee Chai signals this conduct toward the finish of her part â€Å"Saving Sourdi† by remarking that Nea wished she â€Å"was a Naga† who â€Å"would have gulped down the entire world in one gulp† yet she understands that she has â€Å"no enchantment powers†. The complexity between the two characters uncovers that Jake is not really arranged to adjust his life while Nea is on the track to adulthood and has started to change her thoughts as she experiences new encounters. It can likewise be contemplated that the activities and responses of Jake and Nea are a result of their individual foundations. Jake has been depicted as an individual with little desire in life aside from changing his vehicle, a â€Å"’58 Buick†. Also he is seen transforming an auto collision into a chance to play with a Cuban lady which means that his needs throughout everyday life. Jake is likewise depicted as a youngster with little involvement with life as he straightforwardly approaches Mariana for her telephone number just after the mishap. His utilization of casual language with Mariana, for example, his pondering that Mariana should give her number so he wouldn’t â€Å"have to lay his customary b.s.† on her to get it later shows that his social collaboration is to a great extent restricted to individuals his age as it were. Moreover Jake doesn't appear to have either a steady vocation or an ability to know east from west for what's to come. He discloses to Mariana that he is an artist and afterward reveals to her that he demonstrations and has a couple of film appearances as a methods for

Child Sleep Training Essay Example | Topics and Well Written Essays - 1000 words

Youngster Sleep Training - Essay Example What's more, if the child just obliges the stream and doesn't cry so a lot, this infant is viewed as a decent infant, as he is extremely consistent. Despite the fact that guardians totally love a child that doesn't give them inconvenience and stays asleep from sundown to sunset, rest preparing is adverse to the passionate and physical improvement of a newborn child. At the point when a child is rest prepared, he is kept to a controlled timetable with not many deviations. He is to rest and eat at specific times, as everything is represented by a clock. At the point when a clock says a specific time, the child needs to carry out the responsibility that will be done around then, and this incorporates resting, as everything goes connected at the hip with the rest preparing process. A selection from Fleiss' book titled, Mixed up Approaches to Night Waking, depicts the rest preparing process in incredible detail. The article expresses that children must be taken care of simultaneously for snoozes and around evening time, and the parent isn't to go in and comfort the infant in the event that he should cry. The child is to be adapted to figure out how to self sooth. He will weep late into the night until he understands that sleep time is sleep time and that the guardians won't be returning into the room. Notwithstanding how uproarious and wild the infan t's cries become, they are to be overlooked. In the end, the child will quit crying and will surrender and rest. In the event that the child wakes in the night, its cries are to be taken care of a similar way. Guardians can make a short visit to the child's space to see that he is alright and comfort him verbally in the event that they'd like, yet there is to be no eye to eye connection or nestling. At that point, they leave the infant's room, regardless of whether the child is as yet crying. They can return five minutes after the fact and afterward leave once more. They can rehash this procedure at ten minutes, fifteen, and twenty: be that as it may, by no means are they to get the infant. In the long run the child will quit any pretense of crying and nod off, as extreme weakness and fatigue has beaten him (Fleiss, M.D., M.P.H., F.A.A.P.). There is no uncertainty that this sort of molding has adverse mental consequences for the child. For example, suppose that he woke in the night due to having a terrible dream. Notwithstanding requiring his folks comfort, it isn't given to him, as encouraging and nestling the youngster, regardless of the purpose behind requiring it, would meddle with the kid's preparation. The article proceeds to state that in the long run, the infant turns out to be prepared to such an extent that he is hesitant to get or shout out to his folks for help in the night, regardless of whether the assistance is severely required. Regardless of how frightened the youngster is, he will stay quiet, compelled to manage his injury completely all alone on the grounds that h has been trained that pestering his folks is a cardinal sin. He doesn't get the consolation that he so severely needs. While a few youngsters are flexible and can do fine when they grow up, rest preparing has made various grown-ups grow up feeling shaky. This is on the grounds that they were never reacted to when they were newborn children (Fleiss, M.D., M.P.H., F.A.A.P.). In the main phase of human turn of events, Eric Erickson states that the newborn child is figuring out how to recognize trust versus doubt. The newborn child creates trust when he understands that his carers will gracefully the entirety of his needs and protect him. One article that examines the phases of improvement in detail expresses that during the primary phase of advancement, it is important that a parent or carer addresses a child's every issue and reacts rapidly. At the point when the child is reacted to rapidly and the entirety of his needs

Analysis of merger and acquisition performance - Free Essay Example

Chapter 1 INTRODUCTION Background of the study Merger and acquisition is one of the most important phenomena to create a value for shareholders and for the companys growth. This is not only been observed by organizations, but in accordance of political, professionals, media and individual economy considerably making more attention towards M A. It is called as the most effective factor to consider as the integral part of long term business strategy for enhancing the corporate growth (Wijnhoven, Ton Spil, Robert, et al 2006). Over the last decades the mergers and acquisitions in world have continuous effect by increasing the deals, tender offers and leveraged buyouts from different industry (Chatterjee, Lubatkin, et al., 1992). The main objectives behind merger and acquisition is to increase the profitability, increase in revenues, faster growth in the market and it is the quickest way of becoming popular in market. Over the years the researchers have performed various studies in accordance with M A. virtually not everyone makes the clear picture about the performance difference which occurs from the different types of mergers (see Ranaswamy, 1997). This means there are two types of merger that takes place i.e. Vertical and horizontal mergers. Theres been a small research have been done in the field long term strategic factors that affects the performance during M A. Corporate and managers trying to perform and to build the adequate to go on competitive and profitability. Ramswamy (1997) has attem pted to analyze the impact of post-merger performance and the process of strategic similarity in preference of banking industry. He described the success or failure that describes the strategic fit will support to view the benefit than with dissimilar strategies. On an average the efficiency and deposits strategies will enhance the merging partners to cause the improved performance (Altunbas and Marques 2004). Indeed most of the research has conducted by examine the performance in context with financial firms and banking sector. Theres been a limited research have been made on particular industry. Considering the limited study this thesis contributes the extending literature on post-merger performance and strategic similarity by taking steel industry as a variable. The whole study is to find the gain trust that enables the profit in a steel industry under M A. Aims Objectives The research is based on the post merger integration with reference to steel industry by understanding the influence of success through merger and acquisition. The aim of study is to find, firstly whether the post performance will lead to enhance the financial growth, secondly do post-merger operating performance and strategic similarity of acquired companies is affected or not, thirdly dose Company results in improvement in gaining more profit after merger takes place and finally analyzing the success operations in post-merger integration (see e.g., Epstein Marc 2004, Altunbas and Marques 2004, P. Mntravadi, A Vidyadhar 2008, Ruback S., R Healy, Palepu K. G 1992). The test is conducted by analyzing the financial data of pre-merger and post-merger ratios of steel industry and statistical data is calculated using professional software called Stata (P. Mntravadi, A Vidyadhar 2008). For limitation of study, recent merger that took place in 2006 with huge financial transaction were TATA- CORUS and ARCELOR-MITTAL is taken as the variables. Research Methodology Sample collection of data. The study is conducted in context to steel industry. Outline of the structure To function properly to the above mentioned aims and to understand the thesis the structure is organised into seven chapters are as follows: Chapter 1: Illustrates the introductory background of the entire research process and includes the application of aims, objectives, methodology and structure of the thesis. Chapter 2: describes the concise report on the merger and its methods. In addition to that we discuss the motivations behind M A, the factors that influence the course of action during mergers and finally the role of strategic analysis in M A. Chapter 3: introducing the global steel industry and explanation of its recent trend over mergers and acquisition. Besides we also study the competition analysis of steel industry. Chapter 4: examining the relevant literature reviews that are driven to prior concept. Chapter 5: this includes the course of methodology that provides the model that is used to analyse the post-merger performance. Chapter 6: provides th e tackled results and data analysis that is observed by assembling the steel industry financial ratios. Chapter 7: finally the conclusion of overall report that is overcome of the research thesis. Chapter 2 Illustrations of Merger and Acquisition Introduction This chapter explains brief about the mergers and acquisitions. Mergers and Acquisitions are the ways in which to build the corporate expansion and the companys growth. In the recent years theres been observed in the corporate world mergers being increasingly used to gain greater profit, to strengthening the market share and to reduce the business risk during the portfolio management. Thus its better to start with the introduction defining M A. Besides, it also explains the basic terms that are used during the merger process. Basically the terms are discussed due to various authors has described with different definitions depending on the situations. Therefore the above sentence directs us to understand the basic terms of merger. The merger occurs in different types vertical mergers, horizontal merger, conglomeration, geographical mergers, consolidation mergers and purchase mergers. Each merger derived with specific reasons depending on the fitting characteristics in cross boar der operation. Hence the types of mergers are discussed in this chapter. On the other hand we discuss about the motives and strategies that formulates the acquiring firms. This part of study is very important because it explains widespread reasons behind the merger process. The main purpose of merger is to create the synergy and the value for the company. Synergy is the mean of generating the value from economies by integrating through mergers and acquisitions. Next discussion will be based on the strategic framework for evaluating the course of action in M A. Finally the chapter will be ending by summarizing the entire chapter. Explanation of Basic Terms/Key Words. Before proceeding to the detailed study, its important to understand the basic terms which are commonly used in the research paper. The parlances of M A are as follows:- v Acquisition: the one firm purchasing complete assets from the acquired firm to become the owner of that particular firm. v Arb: its an arbitrage that attempts to purchase or sells the financial tool through various markets to gain the profit efficiency. v Cross-border MA: any company that is engaged in mergers and acquisitions whichever might be foreign or domestic firm. v Consolidation: the process of combining companies into one functional operation to form single entity. Its transaction is known as consolidation. v Hostile takeover: it is a corporate takeover which seeks the direct control over the Target Company with respect to management and the board of directors. Here the Hostile means if the companys board of directors rejects the proposed offer, but the acquirer continues to persist it or the acquirer tries to proceeds without informing board of directors. Its a quite opposite to the friendly takeover (Bhagat, Shleifer, Vishny, 1990). v Horizontal merger: the company in which combined to form a single entity with similar industry which produces the same type of products. (Render,Stair,1997) v Management buyouts: this is the process of transfer of proprietorship to a new authority and there will be limit or no rights to the original owner. Basically its a way of transfer the possession control from one owner to the other. (Wright, Robbie, et,. al 1994) v Merger: its a process of combining two or more companies to form one single entity. v Proactive strategy: the strategy which involves innovative decisions to review the companys achievement during the merger process. v Synergy: an action that takes place during merger which gives the maximum result with strong decisions. v Takeover: taking a control over the other firm with respect to hostile or friendly. v Vertical merger: its a type of merger in which the company acquires another company having relation with suppliers or any raw material source for producing its own products. Classifying the merger types In perspective of merger and acquisition there are different types of mergers that host a difference between each one it. Hence the types are broadly classified as Vertical, Conglomeration, Geographical, Market-extension merger, Product-extension merger, Purchase merger and Horizontal mergers. Each type will be discussed in detail to know the differences and their characteristics. Vertical merger A vertical merger is a type of merger in which a firm combines with its suppliers to have a control over the sales outlets for their products. Simply vertical merger is building the relation with suppliers or distributors. Though it is more complicated and creates more rivals, this type will lead to advantage for the acquiring company to take full control over the suppliers from its competition. Somehow it makes tough for the companies to contend against the newly merged firm with different culture and management process. Due to cost control particularly companies tends to make vertical merger. Some researchers have found that vertical merger will appreciate the financial value. R.Gil and Hartmann (2009) have attempted to prove that vertical integration has become more valuable for shareholders during vertical merger. On the whole vertical merger has special distinguishing quality compare to other merger types. Market-extension merger Product-extension Merger In the modern days of merger integration these two mergers has become the frequent types and more importantly it is the best means of extending the operations through extend products and services. Market-Extension Merger:- In this type the merger takes place between the companies having the similar products and services in different market places. The actual intention for having market extension is to target the sustainable market for the future growth and to maximise the wealth of shareholders. The approach of this research is basically suits the market extension merger that took place between the Tata-Corus and Arcelor-Mittal. This made Arcelor-Mittal to produce the highest capacity steel production in the world about 100 million tonnes. The major advantage of this type is to become the monopoly and to have the huge market value. Product-extension merger:- In this type of merger organizations makes a deal were the business takes place with similar products and which operates in the same market place. Mainly this type will allow any new or any large company to unite its products and services to capture same market with bigger consumers. Certainly this method of merger will earn higher profit. Conglomeration The conglomeration merger is the firms in which are combined with respect to non-related industries. This type of merger is involved with two different firms doing different business. Basically it is done to diversify the risk rather than making benefit to the company, it is just to obtain the primary objectives. It is difficult to perform or obtain the market efficiency in this type of merger, due to various diversifications towards product activity (Jeffrey 2008). However with the most efficient management and with fresh management it can probably perform better with the outcomes. Horizontal Merger This type of merger occurs when two firms are combined having similar manufacturing goods and services (Jorge Padilla 2005). Its endeavour is to maximise the shareholders wealth and market shares to counter the competition. The other advantage is to counter the economies of scale, performance, target the major markets, and finally it gives growth being monopoly. This type of merger is playing the vital role for the researchers to analyse the performances. Many researchers have made different comments on the motivation towards horizontal merger process. The process of enhancement in a market and to get rid of the competing firms is the main intention for many mergers. In recent studies the analysts says that horizontal mergers takes place due to the increase in market value in a business environment, management, and in the field of research development. Thus many firms having market power will attempt to have an efficient horizontal merger. Geographical Mergers Most of the mergers are limited within the operating firms in the same territory (home country). Always merger activities refers to the strengthening the cross-border relation with other nations. This type of mergers has the different motives when compared to other mergers. Most of mergers will takes place within the country, but over the decades there is been numerous cross-border mergers happened between many nations (international merger). Similarly, in this part of research discussion we analyze the merger that took place between the two international firms with geographical merger. Larger firms are very much interested to merge whether it might be international or domestic. This enables the expose with different market and certainly to make more profitable. Researchers have analyzed in corporate finance that geographical merger is an important instrument for efficient to provide sustainable growth (Berger, Ofek. 1995). It is the best means to provide risk diversification du ring cross border merger. Geographical mergers will provide to diversify the business in different markets which allows the acquirer to allocate basic requirements based on operation. Motives behind Merger Acquisition Mergers and acquisitions are the general motives for the growth of any organization. Although the motives for mergers cannot be driven in single approach, researchers have analyzed some theories that explain the major motives for merger and acquisition. Indeed no proper reason has been found yet for motives behind M A (Andrade, Mitchell et al. 2001). Haspeslagh and Jemison (1991) states that there are two prime motives behind mergers and acquisitions in interest of maximising the firms growth. Firstly to capture the value for the organization and secondly to create a value for the organization, apparently there are many motives that has been observed in context of growth of the organization. Trautwein (1990) has analysed using various theories of M A motives which includes taxation, wealth maximizing, and risk diversification. However the rationale behind merger and acquisition may vary from one merger to another merger, but normally major success is to increase the value for the company through merger (Epstein 2004). The analysis has influenced the companies to merger with special characteristics which creates profitability for the shareholders. On the other hand mergers have shows the strong influence on post-merger performance. In this dissertation Im going to attempt to discuss what will be the other alternative method for the growth due to merger process. Trautwein (1990) stated that managerial utility will play a vital role in the internal development for the long term investment strategy, although aiming at the increase in shareholders growth will lead the overall motives for merger. And also he analysed that implementation of strategies after merger or before merger will be challenging than the procurement of ongoing business. However in the further studies we will be discussing on both motives i.e., maximising the shareholders hypothesis and managers utility hypothesis that are incurred for strengthening the growth of an organization. Shareholder Wealth Maximising Norm In the neoclassical norms, every organization objectives is to maximize the shareholders wealth. The hypothesis of maximising the shareholders wealth will be called as neoclassical models. On the other hand for rest of the non neoclassical analysis it has been greater explanation from many failures due to the various drawbacks in perspective of ownership control, this results the lack of maximising the shareholders wealth or companies overall profit (Chatterjee, Lubatkin, et al 1992). According to the financial theory, any merger or similar type of investment type will lead to positive valuation of acquiring firms (Andrade, and Stafford 2004). This statement shows that the value for the post-merger performance and the determination of increase in creating the value in share markets. However this analysis shows the existence part of managers utility hypothesis. Some analysts explained that both internal and external factor of mechanisms will influence the managers to act in favour o f the firm. Some study says that there is a high probability of management failure in the interest of merger firm. On this issue the researchers shows that both internal and external factors will influence the managers to take action against the firm. Mainly the external factor indicates competition, companys growth in absence of profit and the appearance in the business world for the survival. This suggests that even if the markets are improper, the competition will guarantee only if they can survive with maximise the profit. On this study Slade, E. M. (2004) says that shareholders can elect the management team who can control the effective internal factors. However for the effective external factor the market competition will recommend for mergers and acquisitions. The increase in merger and acquisition activity understands the motives and consequences that arise for merger process. The traditional intention for merger activity includes theories and hypothesis which includes market power hypothesis, efficiency/synergies in economic scale, diversification hypothesis and so on (Sharma, Thistle 1996). In our further study we will be discussing about the main seven reasons under the shareholder profitability. The following are the six reasons that has been identified and analysed in our dissertation. i. Efficiency/Synergy theories ii. Market Power Hypothesis iii. Diversification Hypothesis iv. Taxation Effects All the reasons will be analysed and discussed below:- i. Efficiency theories According to the efficiency or synergy theories there will be possibility of being both efficiency and inefficiency theories during merger or takeover. Efficiency theory indicates that firm X is more efficient than compared to firm Y and both are in same sector, firm X can increase the efficiency of firm Y however in the presence of X through merger or takeover. Inefficiency theory testifies that firm Y is not capable in favour of public cognizance, so firm X can control the firm being inefficiency Y firm through merger or takeover. These two examples by taking X Y will signify that merger will be an instrument to solve the efficiency problems in the merger performance. Therefore Copeland and Weston (1988) bring out that the efficiency theories will give the theoretical rationale for horizontal mergers and for inefficiency theory supports the conglomerate mergers. Besides efficiency theory evokes that mergers takes place only if there is any profitable reason for both the acqui ring firm and acquirer firm. On the whole efficiency can enhance by proposing new culture by merger and acquisition. Here culture will be the main rationale for successful mergers. Culture is said to the behaviour form of people, management, internal factors of the organization and the strategy implementation (Stallworthy, Kharbanda 1988). David Scherer (1987) analysed that the efficiency theory expresses the mergers takes place for the improvement of the merged firms through the concept of synergy. Basically synergies results the reduction of cost exploitations by avoiding risk opportunities and other strategies which lead to the improvement for securing the capital growth. ii. Market Power Hypothesis Market power is defined as the ability of a market participant or a group of participants to control the price, the quality or the nature of the products sold, thereby generating extra-normal profits (Seth 1990). Some literature diligently says that market power is one of the main motives for merger and acquisition. Scherer and Ross (see e.g. 1990) say that the first and foremost motive for merger is market power particularly for horizontal merger. The analysis suggests that made by Maneesh and Thistle (1996) the horizontal merger enhance the market concentration by which increases the market power and earnings. Besides mergers and acquisitions are not likely to be in a favour of vertical, conglomerate or any other merger type, such merger types are difficult to find. Many literatures (e.g. Seth 1990; Scherer Ross1990) argue that the enhancing concentration may not lead to any gains which is organised by corporate mergers that created the market power. It can only convinced fro m market power is to sustain the markets where there are obstacles to enter and lower level of costs. The exercise of market power cannot be increased if there is threat from competitors when they enter into new market. Besides to exercise the market power it should be executed in a given market, and in few markets which are clearly defined with more competitive. However on the whole analysis made by researchers it concludes that horizontal merger are not the means to target the controlled competitors, but other merger type is also concern. This is due to the larger firm always over prices in a particular single market and may not be more important because of its financial strength and size of the firm Seth (1990) iii. Diversification Hypothesis The diversification as played a cation attention in merger process during recent years. Always firm thinks in different posture to diversify the earnings to create a greater extent of cash flow in the balanced total risk (Lamont 1997). The diversification hypothesis has become the sustainable strategy to reduce the total risk and to make stable income flows. It also assures that in the modern business world diversification is the main method to survive in the market. Many theoretical analyses suggest that diversification hypothesis is relevant to conglomerate mergers. Ross et al. (2002) argues that the value for conglomerate merger will lead to increase in the sum of the value of firms due to decrease in risk and maximisation in debt value. By diversifying the business operations will consent the strategy to minimize the risks. On the whole diversification hypothesis will also increases overall competitive business. So far we have studied the increase through diversification will lead to maximise the earnings. Besides many researchers have discussed that potential entrants utilised theories to model the directly or indirectly to act by means of merger and acquisitions. From this theoretical models shows that the firms diversification hypothesis will not affect any positive results Ross et al. (2002). iv. Taxation Effects In the recent trend of mergers and acquisition there is been not much evidence for enhancing activities in market for corporate control. Only certain explanation express that the positive action that mergers and acquisition play in the portion of resource through society (Ross et al., 2002). Recently many researchers noted that taxation on mergers is also motivated for the acquirers to accumulate the shareholders earnings via tax reduction. There are several different ways on tax incentives and benefits which motivates for M A, to avoid tax on capital gains and dividends, switching to new debt to decrease the interest payments and gaining the tax provisions and to hold capital gains over taxes (Beckenstein 1999). However there are other means of getting advantage from corporate integrity and this advantage should not be considered to the M A process. Mainly there is two different corporations which is considered for tax benefit activity firstly shareholder taxation and secondl y corporate taxation (Auerbach and Reishus 1988). a. Shareholder Taxation: shareholder can also opt for many varieties of payments during the selling of shares as a process of mergers and acquisitions. There are non-taxable receipts for capital gains for shareholders which will not be considered for taxable gains. On the whole non-taxable transactions will exists for tax benefits through opting as a shareholder in the acquired firms to fulfil different portfolio without considering their share capital gain tax and paying capital gains (Auerbach and Reishus 1988). b. Corporate Taxation: at corporate level the tax consideration in merger and acquisition process it rely on the acquiring firm which prefers to consider the acquired company in existence of parent company by its unbroken tax credit or being bankrupt and then the company accepts in the form of component value. There are other tax benefits for merger that is available firstly in stepped-up asset process and secondly the increase in activity of tax losses and tax credits (Auerbach and Reishus 1988). Management Related Hypothesis As we mentioned in the above in fig 1.1 that merger motives explain two related hypothesis Shareholder hypothesis and Management related hypothesis. We have already attempted to study the shareholder related hypothesis and now we will be discussing the term management related hypothesis. a. Managerial-Utility- Maximisation In the modern corporate world is expressed through large corporations having commonly scattered of ownership which is separated from management. In the state of being separation of ownership from restraint, the difference between managers and shareholders can be observed as primary agents. In this agency perspective managers act as an agents and may not all time act in best interest principals. Some time managers react by ignoring principals in order to obtain their own self interest. Such self interest may result to bad merger and acquisition in perspective of the firms growth and loss of shareholder profit. Here a manger seeks to get more rewards and incentives to act in best interest for maximising the firms value. Such value crating actions can be obtained to satisfy managerial objectives are by increasing the firms size (Sudarsanam 1995). Managers undertake merger and acquisition activity for the following explanations: Oslash; Striving for enhancing the size of the firm , since the mangers holds reward like power, incentives, prestige and to get the job security with greater degree. These are easier to pursue in larger firms. Oslash; To spread out the managerial skills and talents. Oslash; To invest in various financial instruments which maximises the shareholders wealth and to avoid market risks. Oslash; To keep away from being job takeover. However, it shows that for enhancing the profit of a firm all stakeholders and managers would prefer maximising profit through merger and acquisition to not yielding profits (Ross et al. 2002). This means that there is importance in post merger performance. So that our study will be focused on how the strategic similarity of M A firms might be a source of achievement. b. Free Cash-flow Hypothesis Free Cash-Flow (FCF) Hypothesis occurs when there is excess of cash and need to fund in any investment instrument that have positive values when compared to the relevant cost of capital (Jensen, 1986). FCF is provoked from the general overall gains and rents from the economic. Jensen (1986) analysed that the management will allot the free cash flow to the shareholders primarily. Besides management also thinks if free cash is distributed then it will not increase their own wealth because dividends are not their personal goal but it is just the scheme of perquisites. However this influences the management or managers to decide using this opportunity for mergers or acquisition which enhances the growth of the company. Considerably managers prompt to grow inward of FCF, besides with inefficiency strategies may lead to the negative effect over FCF diversification through merger (Gibbs 1993). Jensen (1986) free cash flow hypothesis argues in absence of managers interest they seek to e nlarge the companys profit and to use proper resource for better diversification. In his words he describes managers are those who accumulate excess free cash flow by increasing the dividends and to initiate with repurchase of share plans. Nevertheless, many studies and theory suggests that manager behaviour is difficult to observe from the management point of view in free cash flow perspective. c. Hubris Hypothesis Roll (1986) suggests that hubris is the excessive pride for managers to participate in the merger and acquisition activity. Managers are considered when the management of the firm directs to have a valuation analysis of acquiring firm. During this course of action managers behave extremely over confidence with their prediction and excessively hopeful about the takeover valuation. Later onwards they will start a bid possibly if valuation increases the market price objective. Scharfstein and Stein (1990) have built a model of investment decisions which is of herding activity. They argue that the managers will imitate by motivating early movers and sometime refuse their own info. [1] The above statement says that a clustering of mergers and acquisitions over a time. Roll (1986) explains that managers with over confidence lead towards diversifying mergers and acquisition. In Rolls model he explains that these business deals are implausibly to value for the acquiring firm. Therefore we prompt that the volume of merger and acquisition would be negatively connected to the given account of M A beneath the hubris hypothesis. The role of strategic performance during M A Academic researchers has analysed that invariable competence says that on an average merger and acquisitions makes no adequate return for acquiring company. Indeed the managers and the firms are conveying through their value creation promises in merger and acquisition performance. Nevertheless there is been continuous course of action let by managers through M A in everyday business transactions to procure firms growth and to show the ability of their leadership quality. In this regard to enrich merger performance there should be quality analysis, better planning and integrated strategic analysis to make slightly changes in takeovers. Besides there are not much failure in takeovers for the lack of analysis, but with lots of fragmented analysis causes business failure. In most of the cases mergers and acquisitions will end up what so ever whether it makes profitable or not depending on management (Andrade Mitchell, 2001). Even in the same sectors that took place merger and acqu isition will vary with the success rates. On this basis getting the better outcome through takeovers has become an issue to consider as the profitable M A. Acquirer should understand the possibilities of outcome that makes best fit among the potential targets. Gennaro et al. (2006) suggests six strategies which enhance the financial performance managing the financial risk, increase in non-income interest, increasing the quality of assets, marketing financial performance, controlling the cost efficiency and effective use of capital. He suggests that these financial services can be perfect instrument for strategic performing of the mergers and takeover. In this research thesis we will be discussing about the winning strategies and other factors that influence the post merger financial performance. Chapter Summary In this chapter firstly we have explained the basic terms which are commonly used in the overall analysis of merger and acquisition performance. Also it explains the different types of mergers describing from vertical mergers refers in which a firm combines with its suppliers to have a control over the sales outlets for their products, conglomerate mergers is the firms in which are combined with respect to non-related industries, horizontal mergers whereby two firms are combined having similar manufacturing goods and services. On the other hand we have explained the motives behind merger. It shows that firms can achieve market power through enhancing the size of the firm having various motives behind. On the whole the merger and acquisition are initiated by maximizing the wealth of shareholders and manager utility maximization. Besides post merger performance will enhance the eminence as a worthwhile for stakeholders. This course of action helps to distinguish the firms in accor dance to the strategic preference to test the merger related having related and nonrelated firms. Cabral (2002) says that this can be expressible for a manager to mimic other company MA decisions, in despite its private information in contrast of the takeover. In this case situation, a grouping of MA activity will not need to imply managerial hubris.

Life History of Siddiqure Rahman - 2216 Words

Prologue: When we think of golf in Bangladesh, the name of Siddiqur Rahman, a prominent golf star of Bangladesh, is pronounced first of all. Siddiqur Rahman had passed his boyhood days through severe hardship. He had a childhood life of struggle and spent his days in utmost misery. Golf in Bangladesh is a game totally for the privileged quarter but glory of Siddikur Rahman can only be termed as a fairy tale. Proving him as was not just a one-match wonder. He had to work extremely hard to climb out of the poverty of his birthplace, Dhamalcoat, a slum-like area in the capital city. He is making a name for himself and for his country on a global stage. It can indeed be termed as a fairytale that a boy from Madaripur, despite all the†¦show more content†¦There was determined competition and only three candidates out of more than 40 were chosen. Among the lucky three was Siddiqur Rahman. After being chosen a sparkling eyed Rahman says â€Å"The Lahore Gymkhana Golf Club invited us to repr esent Bangladesh on October 14, 1999 in Lahore, Pakistan and it was my first international tournament. Out of the three Bangladeshi amateurs to compete in that tournament, Rahman performed the best. He felt really good after that game. It gave him an idea how people played at the international level and he became very confident that he would improve in the future. But playing in tournaments, national or otherwise, requires not only financial solvency because of the expensive equipment involved in it but also time and dedication. All the costs that the team had to bear abroad were being taken care of by the Bangladesh Golf Federation and they continue to back these promising youngsters. Rahman has had a number of awards and his trophies include the Champion trophy of the 2001 Bangladesh Open Amateur Tournament sponsored by Partex, becoming the first Bangladeshi to confirm the title. He won in Bangladesh again at the Bangladesh Amateur Tournament in the beginning of 2005, after having been the runner-up the two previous years. In 2003, he became the runner-up at the SAARC Golf Tournament, after having confirmed two championship trophies in 2002 and 2003 in the Dutch-Bangla Pro-Am Championship. His other proceeds include the Nepal

Trade Agreements And The Trade Agreement Essay - 1601 Words

Trade agreements are usually entered to by participating countries in an effort to simplify and encourage the movement of goods and services across borders. The countries entering the agreement often do so in an effort to get favorable conditions for themselves which are likely to boost their gains when trading with other countries and protect their interests. Trade agreements, however, are not all about trade. They often have other elements which are aimed at strengthening the participating countries in all ways. Trade agreements, for example, foster international cooperation. Countries that have come together to form trade unions are to abide by some common rules. The World Trade Organization (WTO), for instance, has a set of rules of which the participating countries are required to follow in an effort to govern relationships. If a country fails to honor them, financial investments are taken out and directed elsewhere which in turn affects the country’s economy. In this reg ard, countries within a trade agreement work together in other aspects that do not relate to trade in an effort to ensure their stability. International cooperation promotes peaceful co-existence and world peace in general and is a residual element of trade agreements. Trade agreements, apart from encouraging trade among participating countries, also promote good governance and oversight of a country’s activities. A country’s policies are often monitored to ensure that they are implemented in a wayShow MoreRelatedU.s. Trade Agreements And Trade Agreement1108 Words   |  5 Pagesright side part of the figure represents the percentage of the United States exports of goods and services to trade agreement partners. 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Health Care for Quality and Patient Safety- myassignmenthelp

Question: Discuss about theHealth Care for Quality and Patient Safety. Answer: Introduction: The approach of the human factors in the system is critical in improving the patient safety and the health care quality. Patient safety is an important component of the policies related to the healthcare globally. The quality and the patient safety in the health care institutions act as an important feature that promotes the protection of the patients and in turn reduces the risk of the health issues and errors that may occur in the health organisations (Entwistle, 2007). The safety and the superiority both act primarily in the liberation of the health care. Efforts related to the quality improvement and risk management in the healthcare institutions are to rally following the safety of the patients and to find out the ways where to work together efficiently and effectively to ensure that the health care institutions deliver the care with high quality and safety with minimising the risks (Entwistle, 2007). The health care quality and safety related to the abilities of the human in manipulating the processes which are familiar with the human strength and weaknesses. In the present scenario of the health care, many of the factors are documented as of huge importance for the quality and the safe processes (Entwistle, 2007).. To restore such circumstances the health care organisations are purposely implementing the quality and safety, health care programmers which identifies the conditions of the patients and putting them in the jeopardy of damage and then to perform such act which helps in the prevention of the health care risk (Entwistle, 2007).. Human factors in Health care: Human Factors act as the major factor in the management of the processes and the system designs that in turn build the limitations and the capabilities of the human in the workplace (Buist, 2016). Human Factors in the health care are significant as the profession of caring is susceptible to high; UN monitored workloads indirectly and directly are connected with the role of the health care and practices. The initiatives of the Productive Workplace and patient safety are an important step that is forwarded in achieving the efficiencies and the subsequent pace is to erect an error free wisdom through managing the human factors (Buist, 2016).. The approach of the human factor helps in strengthening the security and the quality of the existing patient development, science contribution includes rational and the evidence approach for continuing safety, medical brilliance and superiority improvement (Buist, 2016). Human factors in the health care management help in understanding the reasons for which the employees in the health care are conducting the errors and also the particular system and factors that are threatening the safety of the patients. Such human factors in healthcare organsiations aslo help in improving the safety culture among the teams and the organisations; with this also enhancing and improving the teamwork and communication among the staff of the health care (Buist, 2016).. The human factor in health care organisations reduces and lessen human infirmity, and hence reducing the penalty and blunder in the organisations. The implementation of a such concepts system wide offers an opportunity in holding the cultural changes and authorising the position that endures safety and scientific vividness at its compassion (Buist, 2016).. Health care system is composed of certain huge set of the interacting systems emergency, paramedic, impatient care, ambulatory, and dwelling health care; testing imaging pharmacies and laboratories that are attached to insecurely associated but complicated network of individuals, procedures, teams, regulations, equipment, communications and devices that purpose with soft management in an uncertain environment (Nemeth et al., 2006). The Physicians in practices of the community may be tenuously linked that even they do not see themselves as the part of the care system. It is suggested by the WHO to use the human factors in helath care organisation appreciates the associations between the patients, staff and the human environment(Gluyas Hookham, 2016). The well developed human factor framework in an organisation will ease the functioning and helps the workforce in doing the things in an accurate way without committing the errors (Rich, 2008). For the safety outcomes, many of the factor s that affect the response and the process of the brain and personal performance are manifold and prohibited. Such human factor framework in health care also helps in identifying what is wrong with the prediction that what could go wrong and understand how certain tools lessen the likelihood of harms to the patients (Rich, 2008). The health care management in association with the visionary management, proper preparation, education and accessibility of the required resources with the effective organizations can result in developing the awareness which inturns prevents the incidents (Rich, 2008). The leadership and the treatment programmes with the pioneering training and meeting seminar will be helpful in achieving the maximum output levels. Impact of safety and risk management culture in health care The SRC Theory of Rasmussens (1997) of Skill, Rule, and Knowledge apply the human experience within the organization and refers the process to manage the information (Ford Short, 2008). The worker who is experienced relies more on the knowledge and results in committing violations as compared to the the beginner or the experienced worker, who mainly believe in the rules or the skill development and tend in committing the errors. The differentiation blurs when the system is dynamic and changes frequently and rapidly, making the experienced workers be vulnerable to the different types of the error (Hart Sweeney, 2006). The term human factors are consistent with the theory that includes the conspicuity, adaptation, and automatic behaviour, top?downs and bottom up task significance, cue generalising and retrospection bias. The Risk Management and the patient safety dependent mainly on the previous events and particularly virtual to a person, and circumstances such a as the state or a s upposition on which the strength or consequence of something else depends frequently competed at the appraisal table but contain considerably dissimilar implications (Hart Sweeney, 2006). In the way of enhancing the safety of the patient in an organisation, the Risk management authorities implement the excellence development program which aims in reducing the medicinal errors (Hart Sweeney, 2006). In addition, the clinical audits guide about the processes that prove to be helpful in offering the continuous programmes of the excellence and development of the programmes that help in the reduction of the errors in the health care (Gluyas Hookham, 2016). The quality and the safety of the patients in a great way depend upon the processes and the systems that are designed for the clinical support and care (Hart Sweeney, 2006). The risk management in the heath care organisation act as the tool in improving the quality of the care in the health care. Risk management also helps in analysing, monitoring and the treatment of the incidents or the errors that occur in the organisation. According to the Knox (2002), risk management in the health care institutions is more about the community design, enhancement and varying systems of occupation rather than being a simple function of the staff that is assigned to the simply staff or officers and is labelled as the risk management (Hart Sweeney, 2006). The integrating work of risk in the managerial and organizational culture and also made as an unambiguous step in the decision making process is significant to prospect flourishing management of corporate healthcare risk (Morrow Rogers, 2008). Organisational system and processes: The thinking of the organisational system does not come obviously to professional of the health care institutions. Whereas, the health care practitioners work together and are trained in such different disciplines, where, primarily focus is on the skills excellence and knowledge in diagnosing the ailments and the rendered care (Buist, 2016). In the chase of becoming the skilful and knowledgeable professionals in their individual disciplines, is one of the challenge that is faced by the medicinal, nursing and the other specialities of the health care. The very well known expression that is in the health care system related to the patient safety is that each and every of the system is designed in such a way to exactly achieve the results (Issel, 2014). The safety and the security of the patient is one of the challenge that is faced worldwide and requires the skills and information in the different areas which includes the human factors and system manufacturing (Issel, 2014). The demanding and the complex environment of the health care institutions for the health care practioners can be made simpler and understandable for delivering the care with accounting the broad range of the human factors that are concerned and in different ways impact the performance of the individuals (Slemon, Jenkins Bungay, 2017). The application of the human factors in the health care system results in the application of the scientific knowledge related to the human limitations and strengths for designing the system in the workplace environment for ensuring the satisfying and safe performance (Morrow Rogers, 2008). In the present split health care system, no entity or the single individual is in charge of the certain factors and seems to continuously interact and misaligned in such manner which in turn leads to the care that is substandard (Slemon, Jenkins Bungay, 2017). In the system, there are certain recognizable accidents which are being waiting to happen. The health care practitioners in their responsible role have to look after the care of the patients and are in the position not only to identify the issues related to the health care but also to rectify the identified issues. The health care staffs of the highly reliable organisations actively practices the tenets and is recognized, that workforce of the health care cannot speak to the issues of the system on their own but needs the support t of the managerial supervisors for rectification of the errors (Issel, 2014). Everybody who had the probable impact on safety and the care of the patient, no issue how remote the administrators, device manufacturers and the nurse managers need to be watchful of the mutually dependent organization factors which play a role in shaping (Issel, 2014). Devoid of the strong and clear nursing voice and a managerial climate with the aim of is favourable to truthfully addressing organization troubles, efforts to improve safety and quality of the health care fall short of the potential (Issel, 2014). Conclusion: The safety of the patient and providing the quality health care plays a significant role in the physical conditions of the health care system and assists in the concerns related to the health care. To keep the protection of the patients is an important issue. Healthcare institutions are becoming conscious of the changing managerial culture that improves the patient's safety (Issel, 2014). In the present scenario, both the human factors and the health care practitioners are undertaking further than their individual traditional boundaries, working in teams, and getting benefited with the sharing of fresh perspectives and experimental knowledge. For the health care and safety of the patients, the support of the leadership is required for aligning the safety of the patients, quality and the risk functions within the organisation. The human factors framework is responsible to evaluate certain roles periodically which are responsible for the risk and the safety of the patients in the healt h care organisations (Issel, 2014). References Buist, M. (2016). Patient-Centered Care: Just Ask a Thoughtful Question and Listen.The Joint Commission Journal On Quality And Patient Safety,42(6), 286-287. https://dx.doi.org/10.1016/s1553-7250(16)42038-6 Entwistle, V. (2007). Differing perspectives on patient involvement in patient safety.Quality And Safety In Health Care,16(2), 82-83. https://dx.doi.org/10.1136/qshc.2006.020362 Ford, E., Short, J. (2008). The impact of health system membership on patient safety initiatives.Health Care Management Review,33(1), 13-20. https://dx.doi.org/10.1097/01.hmr.0000304496.89684.7f Gluyas, H., Hookham, E. (2016). Human factors and the death of a child in hospital: a case review.Nursing Standard,30(31), 46-51. https://dx.doi.org/10.7748/ns.30.31.46.s45 Hart, J., Sweeney, G. (2006). Integrating Patient Safety Indicators into Patient Safety Programs.Journal For Healthcare Quality,28(6), 18-28. https://dx.doi.org/10.1111/j.1945-1474.2006.tb00640.x Issel, L. (2014). A culture of health and healthiest nation initiatives.Health Care Management Review,39(3), 185. https://dx.doi.org/10.1097/hmr.0000000000000030 Morrow, D., Rogers, W. (2008). Environmental Support: An Integrative Framework.Human Factors: The Journal Of The Human Factors And Ergonomics Society,50(4), 589-613. https://dx.doi.org/10.1518/001872008x312251 Nemeth, C., Cook, R., Donchin, Y., Dierks, M., Patterson, E., Bitan, Y. et al. (2006). Learning from Investigation: Experience with Understanding Healthcare Adverse Events.Proceedings Of The Human Factors And Ergonomics Society Annual Meeting,50(9), 914-917. https://dx.doi.org/10.1177/154193120605000911 Rich, S. (2008). How human factors lead to medical device adverse events.Nursing,38(6), 62-63. https://dx.doi.org/10.1097/01.nurse.0000320363.32444.d8 Slemon, A., Jenkins, E., Bungay, V. (2017). Safety in psychiatric inpatient care: The impact of risk management culture on mental health nursing practice.Nursing Inquiry,24(4), e12199. https://dx.doi.org/10.1111/nin.12199