Thursday, August 22, 2019
War against Terrorism Essay Example for Free
War against Terrorism Essay Terrorism means spreading terror or horror through unusual activities such as bomb blasts etc. An act of terrorism spreads panic among the people so it can be said that the main purpose of terrorism is to spread panic in a particular area or throughout the country. The use of word terrorism has become very common after the act on World Trade Center on 11th September 2001. Terrorism is the most challenging issue which must be essentially controlled by law enforcing authorities or the intelligence agencies. The most destructive terrorists activities includes suicide and bomb blast, target killing and murder and so on that is done suddenly and secretly and offcorse it is the most fierce and horrible terrorism in which thousands of innocent people lost their lives. A very crowded spots which includes markets, buildings, properties and even religious buildings have been targeted by the terrorists. It is the most curse and most serious and sincere which must be strictly controlled and every one should take part in War against Terrorism to bring peace in all over the world. Terrorism is the systematic use of violent terror as a means of coercion. In the international community, terrorism has no legally binding, criminal law definition.[1][2] Common definitions of terrorism refer only to those violent acts which are intended to create fear (terror); are perpetrated for a religious, political, or ideological goal; and deliberately target or disregard the safety of non-combatants (civilians). Some definitions now include acts of unlawful violence and war. The use of similar tactics by criminal organizations for protection rackets or to enforce a code of silence is usually not labeled terrorism, though these same actions may be labeled terrorism when done by a politically motivated group. The word terrorism is politically and emotionally charged,[3] and this greatly compounds the difficulty of providing a precise definition. Studies have found over 100 definitions of ââ¬Å"terrorismâ⬠.[4][5] The concept of terrorism may be controversial as it is often used by state authorities (and individuals with access to state support) to delegitimize political or other opponents,[6] and potentially legitimize the states own use of armed forceà against opponents (such use of force may be described as terror by opponents of the state).[6][7] Terrorism has been practiced by a broad array of political organizations to further their objectives. It has been practiced by both right-wing and left-wing political parties, nationalistic groups, religious groups, revolutionaries, and ruling governments.[8] An abiding characteristic is the indiscriminate use of violence against noncombatants for the purpose of gaining publicity for a group, cause, or individual. The symbolism of terrorism can leverage human fear to help achieve these goals.[9]
Wednesday, August 21, 2019
Change Junctures in the Change Management Process
Change Junctures in the Change Management Process Critical change junctures in the change management process at Spectrum sun-Glass Company Introduction In the simulation undertaken, I am the Director of Product Innovation under the unit handling Research and Development for a company called Spectrum sun-glass Harvard (2012). I am very passionate about sustainability and would be very like the company to offer green products to its clients. At a recent company retreat, I tried sharing the discussion I had had with the Vice President of our biggest retail customer, Bigmart; in which he had intimated that Bigmart was about to require all their suppliers to, go through the Green Certification process. As I proceeded, most of my colleagues were displeased; with the Chief Finance Officer, Paul DArcy and the Vice President for Operations Luke Filer, coming out very strongly, against my proposal. I however received support from the Vice President (VP) of Sales and Marketing, Leslie Harris and Vice President (VP) for Human Resources, Mary Gopinath. As a compromise, the CEO appointed me as the head of a team from the different departments to develop a plan that is acceptable to all. As I lacked any formal authority, I had to rely on my personal credibility which was quite high at this point. 2.0 Section 1: 1st decision: Hosting a town-hall meeting in week 25 and the reasoning behind. To start with, I undertook a range of decisions to raise my personal credibility and increase awareness. For instance, in week 0-24, I had private interviews with colleagues (particularly those opposed to the initiative), I received support from a consultant, and I received the CEOs support, to mention but a few. However, the decision that most advanced my change management process, was the town hall meeting that I held in week 25. This town hall meeting alone moved the following individuals from the awareness to the trial stage: Andrew Chen, Walt James, Bob Ingram, Yao Li, Mark Robert, Anne Thompson, Louise Crysh and Dianne Mcnatt. The reasoning behind this decision was informed by Robert Ciadini as quoted in Cliffe, S (2013) who says that ; if one intends to persuade people, one needs to appeal to six human responses namely; people will follow through with commitments that they have made publicly, people will do things that they see people similar to them do, when people are uncert ain about certain things, they tend to look towards experts and other possible sources of information, people are more likely to accept proposals from someone that they like, people tend to respond positively to people who have helped them in the past and people value things whose supply is limited. The town hall meeting was therefore a perfect lever for me to use, as it enabled people to accept my proposal, if other people in the group were to accept. Secondly, it enabled colleagues to make a public commitment to my proposed change, than say, in the private interviews. In addition, the town hall meeting was a perfect opportunity for me to share my extensive knowledge on the issue of sustainability and why it is important for our company and future growth. In the face of uncertainty, my colleagues were then more likely to defer to me and agree to my proposal. Looking back, at the levers that I used, I should also have continued with personal interviews, particularly with the key opp onents of my plan. This strategy of co-opting antagonists is well elaborated in Pfeffer, J (2010), as a way of winning over opponents and giving them a stake in the process of change. Personally, this could also have involved making concessions to the CFO and the VP-Operations in private, so that they start to own a part of the plan. 3.0 Section 2: How I would implement the change action above in practice In practice, I would seek to utilize the levers provided in a concurrent fashion. Whereas, in the simulation, I could only hold a town hall meeting, for instance; I would in practice, seek to complement this with a public statement of support from the CEO. I would also look at having the consultants report delivered during the townhall meeting. In addition to these formal avenues for influencing my colleagues, I would seek out opportunities to help out colleagues. In this way, I would create an obligation on their part to reciprocate. This would therefore ensure that when they are called upon to support my proposal, they would feel conflicted, not to support it. Similarly, I would try to make every effort to get myself liked by colleagues, in very casual settings. This liking would them make it more likely, that they would support my proposal. I would focus less on the means, and focus more on the end. That is, I would be extremely flexible with the levers and concentrate more on the goal of having management agree to Spectrum-sun glass making green products. I would also seek to appreciate the arguments of my colleagues, in Finance and operations. To allay their fears about the financial and operational challenges of the new proposal, I would invite their contributions on how these can be addressed. I would be willing to accept these suggestions as it helps me attain my overall goal-albeit with certain changes. In addition to the personal interviews and town halls, I would also look-out and encourage opportunities for my colleagues to air their views and even reservations about my proposal. This would help me to understand the main issues that my opponents value and would then enable me to respond appropriately. 4.0 Section 3: 2nd decision/Juncture: Building a coalition of support in week 43 and the reasoning behind In week 43, I sought to build a coalition of supporters among the staff, as a way of trying to move the organization from the awareness to the movement stage of the change process. Not only did this decision, have no effect on the organization; it also resulted in a loss of my credibility as some staff were not enthusiastic about the idea. In making this decision, my assumption had been that there was then sufficient interest, in my proposal, among the team. In fact, this result (the failure to build a coalition of support) could be explained by the various theories about organizational culture. For example, Chatman, J, Eunyoung Cha, S (2003) posit that organizational culture is very powerful as it energizes and rallies employees around common perceived goals or objectives. The lack of interest by the employees of Spectrum sun-glass in joining a coalition of support could therefore be partially explained by the culture of the organization. This view is supported by, Goffee, R, Jone s, G (1996) who explains that organizations can be grouped on the basis of their cultures, as follows: Networked Organizations-in which there is a lot of informality, cliques and limited commitment to company goals, Mercenary Organizations,-in which decisions are made by top management and enforced swiftly throughout the organization, Fragmented organizations-in which there is limited solidarity and collaboration across departments and communal organizations, in which there is a lot of socializing at work and solidarity. Based on the above metric, I would classify Spectrum sun-glass as a Fragmented company where there is limited solidarity and collaboration across departments. Alternatively; and as explained by Prof Tim Morris in his lecture on leading through culture; company cultures can be assessed on five dimensions, namely; whether it has a single or multiple cultures, whether decision making is low or high consensus, whether there is an internal or client focus, whether the pe rformance orientation is high or low and whether there is internal cooperation or competition. Based on the above criteria; I would rate Spectrum sun-glass as having a single culture, high consensus decision making, client focus, a high performance orientation and internal competition. With the above information and in retrospect; I should not have sought to create a coalition in such an organizational culture, at the time I did. Instead, I should have concentrated on enabling change through consolidating and relying on my personal credibility, communicating my proposal and making the necessary emotional connection and training. 5.0 How I would implement the change action above in practice In practice, I would start by analyzing the existing organizational culture. I would then craft a very convincing slogan to motivate my colleagues to adopt my approach. For instance, Go Green, More Profits, and More Pay. To further promote interest in my proposal, I would create a sense of urgency, by making the slogan action oriented, Goffee, et al, (1996). As this is a fragmented and mercenary organization, I would also try to organize dialogues on my proposal in informal settings; like lunch, parties and so on. As these parties are enjoyable for those who attend, this tends to increase my likability and the social dynamic within the group. It would also be critical for me to create a place of psychological safety to ask questions about my proposal, to receive honest feedback, to discuss any reservations and errors of approach openly. In this way, I would reinforce the solidarity of the group and its ability to socialize Chatman, et al (2003). 6.0 Conclusion In the end, I was able through the use of the various levers to have eighteen adopters by week 56. This translated into a change efficiency ratio of 0.32, which is high. My change leadership skills (the mishaps, notwithstanding) ensured that I was able to convince a critical mass of managers to adopt the initiative on sustainability. This significantly improved the financial prospects of the company and my professional prospects. Bibliography Chatman, J, Eunyoung Cha, S 2003, Leading by Leveraging Culture, California Management Review, 45, 4, pp. 20-34, Business Source Complete, EBSCOhost, viewed 17 January 2017. Cliffe, S 2013, The Uses (and Abuses) of Influence, Harvard Business Review, 91, 7/8, pp. 76-81, Business Source Complete, EBSCOhost, viewed 17 January 2017. Goffee, R, Jones, G 1996, What Holds the Modern Company Together?, Harvard Business Review, 74, 6, pp. 133-148, Business Source Complete, EBSCOhost, viewed 17 January 2017 Harvard (2012) Change management simulation: Power and influence. Available at: http://forio.com/simulate/harvard/change-management/simulation/index.html#introduction (Accessed: 17 January 2017). Pfeffer, J 2010, Power Play, Harvard Business Review, 88, 7/8, pp. 84-92, Business Source Complete, EBSCOhost, viewed 17 January 2017 Tim Morris (2016) Lecture Slide on Leading through Culture, Available at: https://weblearn.ox.ac.uk/access/content/group/1ed98592-bb15-4079-ad29 b1e4e73be816/Document%20Library/Lecture%20Slides/LF16%2010.1%20Organisational%20Culture.pdf (Accessed: 18 January 2017).
Tuesday, August 20, 2019
Assumptions, research design and data collection strategies
Assumptions, research design and data collection strategies Chapter 1 Introduction The purpose of this assignment is to offer a critical analysis of the underpinning assumptions and research design and data collection strategies and the practice of academic research. Two research papers are chosen for the purpose of this analysis. The first paper is a quantitative study and the second paper is a qualitative study. They are as follows:- Shafer, W. E., Fukukawa, K. and Lee, G. M. (2007) Values and the perceived importance of ethics and social responsibility: The U.S. versus China, Journal of Business Ethics, 70 (3), pp. 265-284. Tsoi, J. (2007) Stakeholders perceptions and future scenarios to improve corporate social responsibility in Hong Kong and Mainland China, Journal of Business Ethics, pp. 1-14. The main reason for selecting these two papers is that they both report upon the area of corporate social responsibility, which is the focus of my PhD. Within the field of corporate social responsibility (CSR), there has been considerable research discussing the relationship between values and perception with the attitude/behaviour of businesses towards CSR. These values are considered quantifiable and thus have been measured quantitatively using scales developed by authors such as Forsyth (1980), Singhapakdi et al.(1996), and Vitell and Patwardhan (2008). Interviews have been used to bring forward the values that are deemed important by stakeholders, and were explored qualitatively by Fukukawa and Teramoto (2009), Siltaoja (2006), and Là ¤hdesmà ¤ki and Siltaoja (2009). The two papers selected both looked at cross-cultural values and perceptions, however, they utilise different methods of investigation. This difference could provide a good basis for comparison, in terms of philosophical assumptions, research design, and the method of data collection. The analyses will begin for each paper with an introduction of the research aims, followed by the epistemological and ontological position, the research design, followed by analysis of its research methodology, the alternative research design and lastly, conclusions from this discussion will be provided. Chapter 2 Review of Quantitative Research paper 2.1 Research Objectives This study by Shafer, Fukukawa and Lee (2007) examined the values and the perceived importance of ethics and social responsibility on managers from China and the U.S. The authors used scales instruments to obtain quantitative data in order to make inferences on whether the managers nationality and personal values have effect on their ethical perception. The American and Chinese managers are assumed to differ in their personal values and subsequently this should be reflected from their responses to the ââ¬Å"Perceived Role of Ethics and Social Responsibilityâ⬠(PRESOR) scale. The authors provided the relevant background information and built up the reasoning for their hypotheses. The first hypothesis was that managers from China would believe less strongly than American managers in the importance of ethically and socially responsible conduct to achieve organisational success. The second hypothesis was that both American and Chinese managers personal values are believed to have significant impact on the responses to the scale. These hypotheses seem to correlate strongly with the research objectives which are to determine that there is variation in response due to cultural differences. 2.2 Epistemological and Ontological Assumptions It is likely that the authors based their research on moral philosophy which ââ¬Å"refers in particular to the principles of rules that people use to decide what is right or wrongâ⬠(Ferrell, Fraedrich and Ferrell, 2005:19). This paper seems to indicate that the principles of rules of managers of different cultures are likely to differ and thus ethical decision-making would vary. The authors provided examples of other empirical research to support this notion. The assumption that personal values can influence ethical decisions shows that the research is likely to infer an ontological assumption of realist, whereby reality is seen to have an existence independent of the activities of the human observer (Blaikie, 2007:13). As the research strives to compare values and perceptions, these elements are thought to be measurable and quantifiable; seemingly leaning towards the empiricism position in which the key idea is that knowledge comes from observing the world (Blaikie, 2007:19). The authors employed deductive research whereby the ââ¬Å"hypotheses formed are tested to determine if the statements can be supportedâ⬠(Sekaran, 2003:31), which is a typical research approach of empiricists. Taking possibly the stance of positivists, these values are assumed measureable, and are thus thought to form the social reality that these values affect the perception of corporate social responsibility amongst the managers from these two countries. 2.3 Research Design The intention is to establish the differences in personal values, by using large quantities of data, which would be representative of the overall population of American and Chinese managers. This suggests that there are two assumptions, that values are measureable and that it is possible to generalise the population from the sample. In order to generalise, a considerably large amount of data is required, thus a survey research instrument was employed. The PRESOR scale developed by Singhapakdi et al. (1995) was used. The reasons that the PRESOR scale was chosen over the cultural dimensions formed by Hofstede (2001) were argued; examples of the latter in other research were shown to be inconsistent and inconclusive in its directional impact, thus making theoretical predictions difficult. The use of PRESOR scale in other research was exemplified and seemed to have established the reliability of its measurement. The PRESOR scale was explained further in the introduction of the paper. Thirteen out of sixteen original items were selected and the authors justified this by stating that only these thirteen items had significant factor loadings in the Singhapakdi, Scott and Franke (1999:25) study. These items were grouped into two categories; the Stockholder and the Stakeholder views. The Stakeholder View reflects the importance of ethics and social responsibility to organisational survival and success, whilst the Stockholder view indicates that organisational success depends on more than just profitability and obligations to the stockholders (Axinn et al., 2004:104) In the methodology section, the Schwartz value instrument and a demographic questionnaire were mentioned as being used together with the PRESOR scale. There was little mention of the reasons the Schwartz scale was used and how it was applied. It was only later in the appendix that the items considered in the Schwartz scale was provided in details. A clearer explanation could have improved the clarity of the paper. The research design employed the use of two research instruments (PRESOR scale and Schwartz value instrument) as means for data collection. The sample of practising managers from the two different countries was given the same survey to complete, thus the responses could be compared on that basis. The results from the analyses were then compared against the hypotheses formed, affirming or not affirming the hypotheses. This process is typical of the deductive approach (Blaikie, 2007:70). 2.4 Data Collection The sample consisted of 311 practising managers, enrolled part time in selective MBA programmes in the U.S. and China. The participation was voluntary and the scales were completed as an in-class exercise. The authors acknowledged potential problems from this sample selection. The first is that, although the MBA programmes in these two countries appear to be comparable, the sample may have confounded the effects of national differences and MBA programme differences. Secondly, the sample was not randomly selected as the authors had asked their students to complete the scales in-class. The authors did not provide further justification for these two problems and thus this is believed to have weakened the external validity of this investigation (Bryman and Bell, 2007:204). Aside from this comment from the authors, there was very little mention of the validity of the measurement which makes it difficult to make further discussion on this. The basis of their selectivity and the criteria in which these programmes were said to be comparable, were also not provided in details. The details of its comparability may have helped clarify and strengthen the validity of the selection criteria, as well as making the paper more understandable. Considering the objectives of the research, in which the authors seem to be looking at making generalisations on the affect of personal values, there is a need to collect large quantities of data. The survey method seems to be appropriate as surveys are easy to distribute to large number of people and costs can be kept to a minimum (Bryman and Bell, 2007:195). This relates to external validity, which is ââ¬Å"about generalisability of results beyond the focal studyâ⬠(Easterby-Smith et al., 2008:87). In this paper, external validity was not discussed; however, it is likely that the results are meant to be applicable for the context of China and the U.S. only. The authors stated the limitation of which the participants can not be assumed as representative of the broader populations of managers in these two countries, due to the fact that the MBA programmes were selective in nature. The research took consideration of the possibility that the age and experience differences of their sample might affect the results, and thus these factors were examined for significance. The scale was translated to Mandarin Chinese and later back-translated with resolution of discrepancies, to take account of the language difference. These examples seem to reflect on the effort of the authors in ensuring that the results are not significantly affected by other variables. In order to test the dimensionality of the PRESOR scale, a principal components factor analysis with varimax rotation and Kaiser normalisation was applied. This is typical of a quantitative study where factor analysis is usually applied as part of the research design. In terms of research replication, this research had provided considerable amount of information which would possibly allow other researchers to perform similar research. The items from the two views (Stockholder and Stakeholder) of the PRESOR scale were provided in details. In addition, the authors also mentioned the calculation method used, such as the use of mean values and the Univariate Analysis of Covariance models (ANCOVA). The only exception would probably be the PRESOR scale itself, whereby the questions that were asked and the choice answers were not explicitly given, which might mean that future researchers might find it difficult to replicate the research and might even have to approach the authors or Singhapakdi who developed the scale. 2.5 Alternative Method The authors mentioned that more in-depth examination using qualitative design of investigation such as interviews would perhaps be more revealing. It is agreed that qualitative measure would allow insights into the importance of ethics to managers, and the various ethical issues that managers prioritise. The researchers are more likely to obtain a richer data of the decision-making process of managers, at the same time; they would be able to achieve the research objectives. The researchers can make use of semi-structured type interview which will allow better control of what questions need to be asked, and to ensure that the objectives of the interview are achieved as well (Bryman and Bell, 2007:474), if time and costs are constraints. There are also other alternatives methods to obtain qualitative data that would have fit this research, such as the use of focus groups. Focus group interviews allow researchers to observe the behaviour of the American and Chinese managers as they interact with each other. It would be possible to see the differences in reaction to ethical issues much more clearly, when these managers are given, for example, the same ethical dilemma, and they are required to rationalise the problem and come up with solutions. This method might be more useful than questionnaire surveys, particularly in that the values of the American and Chinese managers could be brought out through the way they respond and react to ethical problems, the problem-rationalisation process, and the degree of attention paid on a particular problem. Similar to the interview method, this would be considerably more costly to conduct, and it might even be more costly than doing interviews, however, the researchers would gain no t only in achieving the research objectives but they would also attain a better understanding of the effects of personal values in ethical decision-making. However, if the goal was only to establish that perception of CSR differs between diverse cultures, the research design would have fit the purpose. This is because the data collection strategy used (questionnaire survey), allowed the authors to obtain considerably response for generalisation. A questionnaire survey would also have been more cost-efficient and less time consuming, especially for cross-cultural studies. Chapter 3 Review of Qualitative Research paper 3.1 Research Objectives In this second paper, this qualitative study aims to make apparent the perceptions and views of the future scenarios from stakeholders within the garment industry in Hong Kong and Mainland China. The underlying intention was to seek consensus and common ground, on a local and regional level to help companies develop an appropriate CSR strategy, to improve the state of corporate social responsibility and in the long run, to achieve sustainability in the region. The main objective was stated as ââ¬Å"by engaging with major stakeholders, to identify the local and regional supply chain stakeholders perceptions and expectationsâ⬠(Tsoi, 2007:1). Typical of a qualitative study, generalisation is often not the objective of the study (Bryman and Bell, 2007:410). This is apparent from this study as the author had mentioned that the sample may not be sufficient for generalisation for the entire garment industry, however, it is ââ¬Å"relevant to garment businesses involved in export-orientated activitiesâ⬠(Tsoi, 2007:1). Tsoi (2007) used an inductive approach to identify the perceptions of stakeholders by conducting interviews. 3.2 Epistemological and Ontological Assumptions Although the author did not indicate the philosophical assumptions behind this study, the author implied that by identifying the stakeholders perception, ââ¬Å"the findings would help in building consensus, strengthening the implementation, and establishing future CSR frameworkâ⬠. This suggests that the author has an ontological position of constructionism, which asserts that social phenomena and their meanings are continually being accomplished by social actors, implying that there exists social interaction and that there is a constant state of revision of the social phenomena (Bryman and Bell, 2007:23). In this case study, the social reality of what is happening in the garment industry, in terms of its corporate social responsibility, is a social reality that was formed by the stakeholders. It suggests that the social phenomena (condition of CSR) can undergo changes, and that it is dependent on the activities of the social actors. The views of the social actors are thought to be indicative of the important issues in corporate social responsibility, within the garment industry. This form of research is consistent with the research paradigm of the interpretivist position, as the basis of the research is that the study of the phenomena requires an understanding of the social world that social actors have constructed and which they reproduced through their continuing activities (Blaikie, 2007:124). In this instance, the stakeholders are the social actors who will continually interpret and reinterpreting their social world which can be the garment industry. The social phenomenon that the author is investigating is the current state and the future of the corporate social responsibility in Hong Kong and Mainland China. The future conception of CSR in these two places is related to phenomenology, whereby, it concerns with the question of how individuals make sense of the world around them (Bryman and Bell, 2007:18). In this case, it can be viewed as the way stakeholders make sense of the state of corporate responsibility in the region. 3.3 Research Design The author relied on a qualitative method, specifically, the face-to-face semi-structured interview, which indicates the leanings of the author in ââ¬Å"conducting a naturalistic inquiry in real-world rather than experimental or manipulated settingsâ⬠(Ritchie and Lewis, 2003:4). For qualitative studies, semi-structured and unstructured interviews are commonly used as they provide rich, detailed answers and taps into the interviewees point of view (Bryman and Bell, 2007:474). As the focal source of data was the stakeholders themselves in this study, this seems to infer that the research design is based on the interpretivist view that the ââ¬Å"social phenomena can only be understood and be investigated from the insideâ⬠(Blaikie, 2007:125). The author identified major stakeholders possibly with stakeholder theory, stating the assumption ââ¬Å"that multinationals see stakeholder consultation and management as an important communication tool in identifying and interpreting the needs of salient stakeholdersâ⬠and as such would enable ââ¬Å"the development of a common language for CSR and subsequently the development of proactive CSR strategiesâ⬠. This correlates with the stakeholder approach of Wheeler et al. (2003:19) who stated that ââ¬Å"value creation at the highest level requires an ability to build value-based networks where all stakeholders see merit in their association with and support for a businessâ⬠. In this instance, it is likely that the stakeholders were deemed to be important in the future direction of CSR in the region, and this was the reason that stakeholders were chosen as source of data. The author mentioned that these interviews conducted in 2004 and 2005 may no longer be relevant, since there were major developments in 2008. This might have made the interviews slightly outdated however; there should not be many changes to the overall aims of the stakeholders and thus the outcomes of this research would remain valid. However, as an alternative, the author could have applied longitudinal design which ââ¬Å"represents a distinct form of research design than is typically used to map change in business and management researchâ⬠(Bryman and Bell, 2007:60). The longitudinal design would not only serve the purpose of this study, but it would also allow insights into the factors that cause change to the perception. With this sample, it is possible to use cohort study, whereby ââ¬Å"the cohort is made up of people who share a certain characteristicsâ⬠(Bryman and Bell, 2007:61), since the stakeholders have a stake in the garment industry. However, longitudinal re search may require a lot more preparation, could be time-consuming and thus it could be more costly. 3.4 Data Collection With regards to the methodology, the interview questions that were used for this research was not provided. As this was a semi-structured interview, it would have been useful if the author had provided general information on how the questions were formed, and the structure of the interview questions as this would provide an indication of the depth of the interviews, and hence the validity of the research design. For the sample, 25 representatives from academia, the business organisations, the non-government organisations, trade association, and government officials were identified. The response rate was 84%, in which 21 out of a total of 25 representatives of these organisations agreed to be interviewed. It was mentioned that the reason for such a high response rate, was that the author had contacted the interviewees on a one-to-one basis. Furthermore, the interviewees were also guaranteed anonymity. The sample, thus, appears to be extensive and is representative of the various stakeholders that are vital in the garment industry. 3.5 Alternative Method The intention was that the ââ¬Å"findings would help in building consensus, strengthening the implementation and establishing the future CSR frameworkâ⬠(Tsoi, 2007:1). The author might have meant that having collected all the different views from these stakeholders, the author would be able to determine the consensus of how CSR should be developed and how CSR should be like in the future. However, it is doubtful that a consensus could have been obtained using this method of analysis. The interviewees, although were representative of the garment industry, each one a vital stakeholder, there was no real interaction between these stakeholders, and thus, the consensus that is meant is only based on the researchers understanding from the interviewees responses. Stakeholders are thought to be able to reach a better compromise through discourse, with different sides arguing for the validity of their point as well as ensuring that the interests of the group or association that they re present are taken account of (Bryman and Bell, 2007:511). While it is understandable, that there is a strong possibility that it could be costly to get all the interviewees to sit together through a discourse, nevertheless there are alternatives which might be more useful for the purpose of this investigation, given that the objective is to reach a consensus amongst the stakeholders. With this reasoning, the research design could improve by firstly conveying the findings of the interviews to all of the stakeholders interviewed, and follow up with another interview to see if there were changes to their views. Alternatively, the author could use the method of focus group interviews. With this method, Merton et al. (1956) (in Bryman and Bell, 2007:511) stated that the ââ¬Å"accent is upon interaction within the group and the joint construction of meaningâ⬠. Focus group interviews could provide a platform for the interviewees to interact and to establish a joint construction of what it means to strengthen CSR and also determine what future scenarios should and could be like. With regards to selecting a suitable size for the focus group, it is recommended by Bryman and Bell (2007:517) that the typical group size should be six to ten members, whilst Sekaran (2003:220) recommends a size of eight to twelve members. The reason that the focus group interview method was recommended was that the interviewees would be encouraged to express their opinions argumentatively, which would then allow the researcher to gauge the degree of importance of certain issues and how much flexibility the interv iewees might have to reach a compromise with others. There are of course possible pitfalls using the focus group method, in that some interviewees might be dominant over others, and thus the opinions of those less dominant might not be heard, but these effects can be reduced to a minimum level by having a good moderator (in Bryman and Bell, 2007:511). The one-to-one interview method could still be more advantageous compared with the focus group interview, as the time and monetary costs of conducting a one-to-one interview would probably be considerably less and thus be more manageable especially if there was only one researcher, as was with this case study. In this case study, it seemed that a quantitative design would actually be difficult to apply, and it would also be inappropriate for an investigation on the perception of CSR as a business concern. Taking the example of using a questionnaire survey with closed-ended questions, it is very likely that the respondents would answer that they are very concerned about CSR, as that might be perceived as the correct response, thus creating social desirability bias to the results. Furthermore, with a questionnaire survey, the researcher would not be able to pin-point all the various future scenarios for CSR in Hong Kong and Mainland China, even if it was possible, the list of future scenarios might be too long to be practically manageable. Another issue would be that in making assumptions of the future scenarios that are deemed significant to the stakeholders, it would be problematic as the researcher might risk missing out relevant information. Therefore, it would be difficult, from these r easons, that a quantitative design would not be suitable for such a case study. Chapter 4 Conclusions In summary, the two papers reflect significant differences in their research approach. This was seen through the objectives of the research, the underlying assumptions of the research philosophy and the conceptualisation of research design and the data collection. There is certainly much to learn from these two research papers, both had given valuable information on the differences between quantitative and qualitative methods, as well as offer guidance on the selection of research method and how to go about utilising these methods. The research designs, as shown in these papers, are dependent of the research objectives and the designs are also influenced by the epistemological and ontological assumptions made. Even though the philosophical positions of the researchers were not made explicit, however, the likely positions can be assumed. These papers have also shown that the advantages and the disadvantages of the different methods of investigation, and they need to be considered to e nsure that the best method is chosen for the purpose of the research. In these two papers, the method of investigation is distinct, one was a qualitative study and the other was a quantitative study, however, this does not necessarily mean that a mixed method of investigation can not be used. In fact, (Bryman and Bell, 2007:646) suggested that triangulation can be applied, in which ââ¬Å"the results of an investigation employing a method associated with one research strategy are cross-checked against the results of using a method associated with the other research strategyâ⬠.
Monday, August 19, 2019
Teaching Status Report :: Dunn Middle School Education Teaching Essays
Teaching Status Report I cannot believe my time at Dunn Middle School is coming to an end. It finally hit me over Thanksgiving break that in less than two weeks I will not be making the daily drive through Trenton to see my sixth graders. What is more shocking is how upset I am about it. I honestly did not think I would grow so attached to certain students but when I think that I will get to see their faces on a daily basis I get really depressed. I think part of being a teacher is being able to keep a certain distance from the students so attachment does not occur, I clearly failed to do that my first time around. Other than dealing with the feeling of impending loss, JPE is still going really well. Since my last report I have finished my unit plan and I have been observed. I am still teaching mathematics but I base most of my lessons from the textbook and sometimes my cooperating teacher will teach a lesson if he feels it is a difficult concept to comprehend. During the science section of the block p eriod, I serve as a one-on-one tutor and disciplinarian so Mr. Williamson can continue with the science lesson without getting sidetracked. My cooperating teacher and I have a perfect relationship. He never steps on my toes but he never lets me feel alone with the students. I could not have asked for a better cooperating teacher, I am going to miss Mr. Williamson as well. In addition, my authoritative side is slowly improving. I think everyday I gain more control of the class. I think this control was exemplified when we had a substitute teacher for the second time. The first time the class had a substitute teacher they were out of control, they simply refused to listen to me. However, the second time there was a substitute I took control from the beginning of class and kept the students busy and focused the whole class period. My cooperating teacher was impressed that the students were so well behaved for a substitute teacher. I think the difference between these two events was my continued authority over the class throughout the entire period and the amount of work I assigned.
Sunday, August 18, 2019
Pinpointing Tourettes Syndrome Essay -- Biology Essays Research Paper
Pinpointing Tourette's Syndrome Though Tourette's syndrome was first studied in the 1800's, it is an illness that has yet to be fully explained by any discipline. Presenting with muscular tics, some of which result in verbal utterances, Tourette's is a condition that is easily characterized. Yet its causes are not so easy to pin down. Though psychiatry and biology have been able to recognize roots other than the demonic possession once thought to cause Tourette's, there are few definitive, precise explanations of its etiology. As far as neurological diseases go, Tourette's is relatively common: between 2.9 and 4.5 children out of every 100,000 children have it, and that figure may be higher due to mild cases which go undiagnosed (1). The condition is much more prevalent in males than females, and Tourette's is most common present in young people - the condition often disappears in post-pubertal years. The onset of vocal tics most always succeeds motor tics, though most individuals with Tourette's eventually present both. Tics can sustained (and are then called tonic or dystonic), which can result in abnormal posture or gait for Tourette's patients. Behaviors associated with Tourette's include copropraxia, echopraxia (both motor behaviors), coprolalia, palilalia, and echolalia (all verbal) (2). The neurological causes of Tourette's are not fully understood. About half of patients have "non-localizing, so-called 'soft,' neurological findings suggesting disturbances in the body scheme and integration of motor control". When EEG's are performed on people with Tourette's, the results are often vagule abnormal, yet provide little concrete information to practitioners; the same is true of CAT scans. Additionally, these abnor... ...ic/tour.html 2. Macalaster College Behavioral Neuroscience Tourette's Syndrome Page http://www.macalester.edu/~psych/whathap/UBNRP/tourettes/ 3. Internet Mental Health http://www.mentalhealth.com/bookp40-gtor.html 4. National Institute of Neurological Disorders and Stroke - "What Cuases TS?" http://www.ninds.nih.gov/healinfo/disorder/tourette/tourette.htm 5. Department of Neurobiology, Baylor College of Medicine - Movement Disorders Research: Tetrabenazine Study http://www.bcm.edu/neurol/research/moved/moved3.html 6. HUM-MOLGEN [Human Molecular Genetics] European Server http://www.informatik.uni-rostock.de/HUM-MOLGEN/documents/abstracts.0049.html 7. "Tourette's Syndrome: A Model Neuropsychiatric Disorder" - Grand Rounds at the Clinical Center of the National Institutes of Health, http://neuro-www2.mgh.harvard.edu/TSA/medsci/model.html Pinpointing Tourette's Syndrome Essay -- Biology Essays Research Paper Pinpointing Tourette's Syndrome Though Tourette's syndrome was first studied in the 1800's, it is an illness that has yet to be fully explained by any discipline. Presenting with muscular tics, some of which result in verbal utterances, Tourette's is a condition that is easily characterized. Yet its causes are not so easy to pin down. Though psychiatry and biology have been able to recognize roots other than the demonic possession once thought to cause Tourette's, there are few definitive, precise explanations of its etiology. As far as neurological diseases go, Tourette's is relatively common: between 2.9 and 4.5 children out of every 100,000 children have it, and that figure may be higher due to mild cases which go undiagnosed (1). The condition is much more prevalent in males than females, and Tourette's is most common present in young people - the condition often disappears in post-pubertal years. The onset of vocal tics most always succeeds motor tics, though most individuals with Tourette's eventually present both. Tics can sustained (and are then called tonic or dystonic), which can result in abnormal posture or gait for Tourette's patients. Behaviors associated with Tourette's include copropraxia, echopraxia (both motor behaviors), coprolalia, palilalia, and echolalia (all verbal) (2). The neurological causes of Tourette's are not fully understood. About half of patients have "non-localizing, so-called 'soft,' neurological findings suggesting disturbances in the body scheme and integration of motor control". When EEG's are performed on people with Tourette's, the results are often vagule abnormal, yet provide little concrete information to practitioners; the same is true of CAT scans. Additionally, these abnor... ...ic/tour.html 2. Macalaster College Behavioral Neuroscience Tourette's Syndrome Page http://www.macalester.edu/~psych/whathap/UBNRP/tourettes/ 3. Internet Mental Health http://www.mentalhealth.com/bookp40-gtor.html 4. National Institute of Neurological Disorders and Stroke - "What Cuases TS?" http://www.ninds.nih.gov/healinfo/disorder/tourette/tourette.htm 5. Department of Neurobiology, Baylor College of Medicine - Movement Disorders Research: Tetrabenazine Study http://www.bcm.edu/neurol/research/moved/moved3.html 6. HUM-MOLGEN [Human Molecular Genetics] European Server http://www.informatik.uni-rostock.de/HUM-MOLGEN/documents/abstracts.0049.html 7. "Tourette's Syndrome: A Model Neuropsychiatric Disorder" - Grand Rounds at the Clinical Center of the National Institutes of Health, http://neuro-www2.mgh.harvard.edu/TSA/medsci/model.html
Friends or Lovers :: Love Letters Dating Email Relationships
Dear Chase, I'm not quite sure where to begin; I know this past week has been a mess, both our faults, I'm not just directing it towards you. I have had ten million things running through my mind the past few days, and I am going to try and get a few of them out right now. For one, I do cherish your friendship, like I said in one of my messages, you and I have shared things and conversations about our lives, our families that I would never with anyone else. The main reason for that is because I trust you, and you listen to me, as I do to you. I can say that I have had some of the most wonderful times with you that I have ever had in my entire life. I had told you before that when you talk I hold onto every word that comes out of your mouth and it's like they are engraved in the back of my mind forever. I don't know why you have that affect on me; maybe it's the fact that we have become such good friends. To be quite honest with you, I don't trust people very easily as you very well know, and I could probably say the same for you. I think that is why I did let that wall down and let you into my life and my heart, because I felt safe. Let me ask you, why do I feel like building it back up? Let me explain what I want in my life. I want someone to share my laughter and my fears, someone to listen and be there when I feel like the world is crashing down on me. I want to give that same courtesy back to them in return. I don't want someone standing at my door waiting for me to get home, or around constantly, because that drives me absolutely crazy. I do think that since you and I have spent so much time together that I have become a little dependant on you, and wanting to talk to you. That doesn't necessarily mean seeing you every day, or a three-hour phone call, but just the reassurance to know that you are in fact still there. Is that too much for you? It sometimes feels like you only call when you know I am upset because you haven't called. You hardly ever call just because you want to.
Saturday, August 17, 2019
The Business Activities Study
This case study is related to the business activities of a hedge fund which performs a macro investment strategy. Its investment manager Troy Dexter seeks for profits which arise from shifts in the real economy. As he considers an end of the Australian housing market boom as likely, he anticipates that Australia's overall economic growth will slow down, whereas the prices for energy will go up. In reaction to those expectations he decides to purchase treasury bonds and stocks of energy companies Against this background Case Study 1 is aimed at classifying Troy Dexter's two investment decisions as either direct or indirect investments. Such a classification provides different results depending on the party from whose perspective it is assessed. Thus, it is the purpose of the following section of this work to distinguish between the terms direct and indirect investment based on the corresponding point of view using practical illustrations whenever possible. This is to be done after clarifying key terms associated therewith first. Term definition A hedge fund is an alternative investment vehicle which excessively uses financial instruments such as derivatives and leverage and in which an aggressive management strategy is usually applied (Fung & Hsieh, 2004). As Capocci and Hà ¼bner (2004) state, a hedge fund's major purpose is to generate active return (called alpha) for its typically wealthy investor base. As hedge funds are less exposed to capital market regulation than other fund types, they are able to generate ââ¬â on average ââ¬â higher returns, but associated with higher levels of risk as well (Lederman, 2012). Troy's decision to purchase energy stocks is related to his expectation of rising oil prices. Given his expectation turns out to be correct, the share price of oil producing companies will increase. The term ââ¬Å"energy stock marketâ⬠, however, comprises not only oil producing companies, but all other kinds of energy producing firms, as well as energy infrastructure and energy service providers, too (Henriques & Sadorsky, 2008). As Henriques and Sadorsky (2008) note, a rise in the oil price will not only increase the share price of oil and gas producers, but also the market value of those firms which offer substitutes (e.g. solar and wind energy) will increase. This holds as their products become more competitive in such an environment and their turnover is likely to increase. Stockholders who have purchased such stocks directly for their own stock portfolio before a rise in the oil price has taken place, will profit. Their profits, on the one hand, consist of the 4 chance to sell those shares at a higher price at the stock market and, on the other hand, of (increased) dividend payments (Bodie, 2013). Treasury bonds purchased in the debt market are usually characterized by less risk than any kind of stock market investment (Sharpe et al., 1999). Given Troy's expectation about the future economic environment of Australia, his decision to purchase such long-term fixed interest debt instruments is reasonable. This holds as they are issued by the Australian government which is very unlikely to default (Chaudhuri ; Smiles, 2004). On the contrary, as the Australian government has several tools at hand which allows it to make interest payments as promised (e.g. increase taxes), a treasury bond is considered as one of the safest investment forms available in the market (Hull et al., 2005). Investors who have decided to hold treasury bonds in their stock portfolio (direct security investment) can expect a fixed interest on their investment. The historic development of the Australian 10-year treasury bond is illustrated below.à Source: Reserve Bank of Australia, 2017. From this graph it can be derived that the long term trend of Australian treasury bonds is downward sloping. Starting from a level of more than 10.0% in 1995, the interest rate went down to about 3.0% in 2013. Interest rates in the short run are stagnating on a relatively low level of about 3.0%. Based on the fact that Troy Dexter has founded the hedge fund in 2009, it can be stated that his decision was right in the short run: Interest rates, indeed, went up from 4.0% to 6.0% between January 2009 and January 2010. However, it has to be noted that in the subsequent years his expectation turned out to be incorrect: Starting from January 2011, interest rates on the Australian 10-year treasury bond went down to about 3.0% in January 2013. This implies for Troy Dexter as the fund manager that his hedge fund may have generated losses from 2011 onwards as the interest rate of Australian treasury bonds have lacked his expectations. The figure adds value to the topic of this work as it illustrates that the fund manager's decision to invest in treasury bonds could not have been a smart decision in the long run: Fund investors are indirectly suffering from this decision as they have decided to provide Troy Dexter with parts of their funds which are now invested in a non-optimal security. 1. Direct vs. indirect securities ââ¬â Northwest Capital Management perspective In order to classify Northwest Capital Management's investments in treasury bonds and energy stocks from the firm's perspective, one has to understand the business concept of capital management firms first. Firms such as Troy Dexter's hedge fund business aim at professionally managing private investor's funds. They do so by investing customers' money in a broad range of asset classes, restricted by particular investment goals (Fung ; Hsieh, 2001). However, as Brav et al. (2010) notice, the service such firms provide is not just related to the optimum asset allocation, but financial statement analysis as well as the monitoring of existing investments plays an important role, too. Hedge funds ââ¬â in contrast to more conservative capital management firms ââ¬â invest a relatively high percentage of its assets in risky asset classes such as the stock market of even emerging market economies (Jansen et al., 1998). The portfolio composition of an exemplary hedge fund is illustrated in the graph below. Source: Blair, 2001. The figure above already reveals that it is the hedge fund manager Troy Dexter who is responsible for the investment decisions of his fund and who chooses between the above asset classes (asset allocation). It is important to understand that the private investor is not involved in the daily investment process of the hedge fund, but hands over any responsibility for the invested amount of money to Troy Dexter. 0.50% 0.50% 31% 19% 15% 14% 7% 6% 3% 2% 2% Strategy composition of a hedge fund Short selling Other Equity long/short Macro Relative value arbitrage Event driven Fixed income Convertible arbitrage Distressed securities/high yield Equity markets neutral Emerging markets 6 Derived from this line of reasoning it can be stated that Troy Dexter's intended purchase of treasury bonds and energy stocks can be considered as a direct securities investment from the firm's point of view. This holds, because there is no third party involved in Troy's securities acquisition process (Bodie, 2013). In contrast, it is likely to be assumed that Troy himself owns a trading platform which he can use to exercise any stock market transactions personally and immediately. Even if Troy does not own such a trading platform, the consultation of a stock broker can still be considered as a direct securities investment from Northwest Capital Management's point of view. This holds because a stock broker can simply be considered as an entity which executes buy and sell orders on behalf of someone else for a particular fee or commission (Pollock et al., 2004). As Pollock et al. (2014) note, brokers are not allowed to alter the order, but execute the transaction only. 2. Direct vs. indirect securities ââ¬â Investor perspective Taking the viewpoint of an investor in Troy Dexter's hedge fund, Troy's investment decisions can clearly be considered as indirect investments. As stated above, the fund manager decides about the allocation across available asset classes. The investor knows about the financial risks tied to Troy's investment decisions from the prospectus and may have expectations about a desired return, but cannot alter Troy's daily sell and buy orders. However, this would be a vitally important characteristic of a direct securities investment. As soon as customers have decided to invest in the fund, they have to sign a declaration of consent in which they transfer the responsibility for managing their funds to the portfolio management team (in our case to Troy Dexter) (Philpot ; Jonson, 2007). Not the investors themselves engage a broker who carries out financial market transactions, but Troy Dexter does that on behalf of them using his financial market knowledge. In this context it is important to note that ââ¬â although restrictions are less strict in a hedge fund ââ¬â fund managers have to stick to the proposed fund objective and are not allowed to invest in anything which is not related to the praised goal of the fund, although it may be a lucrative investment (Philpot ; Jonson, 2007). This assignment of any kind of right to alter the investment decision related to maximizing investors' own monetary wealth underpins the indirect nature of a fund investment from an investor's point of view. The incentives for customers of Northwest Capital Management to provide Troy Dexter with the rights to manage their savings on behalf of them (indirect investment) is related to Troy Dexter's expertise about financial markets (Capon et al., 1996). Additionally, as Capon et al. (1996) state, the pooling of large amounts of money in the hedge fund provides customers with a lot more market power than they would have when investing on their own. This shows that although private investors cannot actively decide about each investment decision on their own, the indirect securities investment through Troy Dexter's Northwest Capital Management is utterly worthwhile for its investor base. It can be summarized that investing in a hedge fund implies no direct securities investment from the private investors' perspective. This is compounded by the fact that private investors of a hedge fund do not own any securities themselves (Droms & Walker, 1996). Instead, those securities are entirely controlled by the fund managers who either own a trading platform themselves or contact brokers to carry out deals which are likely to benefit the fund's investor base. Shareholders are not able to access the fund's existing investments on a daily basis, but have to rely on the fund managers' expertise (Droms ; Walker, 1996). This trust, however, may be the basis for higher returns compared to investing individually on any kind of capital market. 7 Furthermore, the indirect securities investment from the investor's point of view implies that each single investor gains or loses proportionally to his or her investment in Troy Dexter's hedge fund. This fact stands in sharp contrast to a direct securities investment in which an investor is on his own and has a claim on any gains and losses related to this investment (Bodie, 2013). Instead of having the chance to convert profits right away in a direct securities investment, an indirect investment via a fund prohibits an investor from this right and makes him dependent on the decisions of the fund manager. Recommendations: A common way of how to classify securities is to divide them into either direct or indirect securities. In this context it is of particular importance to distinguish between either an investment manager's or a private investor's perspective (Davis, 2004). Conclusion: The statements above have shown that the classification of any kind of investment as being either direct or indirect depends on the party from whose perspective such a classification is made. In the case of a hedge fund one can categorize an investment as an indirect one from the investor perspective and as a direct one from the fund manager's perspective. This holds as it is not the investor who makes any kind of investment decision, but the fund manager on his behalf. The investor puts trust in the fund manager's capital market expertise when deciding to invest in a fund and ââ¬â at the same time ââ¬â cedes any kind of rights to alter the fund manager's perspective on the future development of the capital market. In contrast, the fund manager, on a daily basis, has to directly ââ¬Å"stepâ⬠in the capital market and has to sell or buy certain types of investments. References Blair, F. (2001): Managing the equity portfolio: South-Western College Publishing. Bodie, Z. (2013): Investments: McGraw-Hill. Brav, A.; Jiang, W.; Kim, H. (2010): Hedge fund activism. A review. In: Foundations and Trends in Finance 4(3), p. 185ââ¬â246. Capocci, D.; Hà ¼bner, G. (2004): Analysis of hedge fund performance. In: Journal of Empirical Finance 11(1), p. 55ââ¬â89. Capon, N.; Fitzsimons, G. J.; Prince, R. A. (1996): An individual level analysis of the mutual fund investment decision. In: Journal of Financial Services Research 10(1), p. 59ââ¬â82. Chaudhuri, K.; Smiles, S. (2004): Stock market and aggregate economic activity. Evidence from Australia. In: Applied Financial Economics 14(2), p. 121ââ¬â129. 8 Cristodoulou, A. (2016): The internal rate of return problems and manners of solution. In: Prospettive e Proposte Mediterranee-Rivista di Economia, Agricoltura e Ambiente. Online available at http://www.iamb.it/share/img_new_medit_articoli/802_32cristodoulou.pdf. Davis, E. P. (2004): Institutional investors. In: MIT press. Droms, W. G.; Walker, D. A. (1996): Mutual fund investment performance. In: The Quarterly Review of Economics and Finance 36(3), p. 347ââ¬â363. Fung, W.; Hsieh, D. A. (2001): The risk in hedge fund strategies. Theory and evidence from trend followers. In: Review of Financial Studies 14(2), p. 313ââ¬â341. Fung, W.; Hsieh, D. A. (2004): Hedge fund benchmarks. A risk-based approach. In: Financial Analysts Journal 60(5), p. 65ââ¬â80. Hasan M. (2013): Capital budgeting Techniques used by small manufacturing companies. In: Journal of Service Science and Management. Henriques, I.; Sadorsky, P. (2008): Oil prices and the stock prices of alternative energy companies. In: Energy Economics 30(3), p. 998ââ¬â1010. Hull, J. C.; Preduescu, M.; White, A. (2005): Bond prices, default probabilities and risk premiums. In: Working paper. Jansen, A.; Mathieson, M. D. J.; Eichengreen, M. B. J.; Kodres, M. L. E.; Chadha, M. B.; Sharma, M. S. (1998): Hedge funds and financial market dynamics 166. Jung, K.; Yong-Cheol, K.; Stulz, R. M. (1996): Timing, investment opportunities, managerial discretion, and the security issue decision. In: Journal of Financial Economics 42(2), p. 159-186. Layton, A., Robinson, T., & Tucker, I. (2015): Economics for today (5th ed.). Thomson, South Melbourne, Australia. Lederman, S. J. (2012): Hedge fund regulation. Philpot, J.; Jonson, D. T. (2007): Mutual fund performance and fund prospectus clarity. In: Journal of Financial Services Marketing 11(3), p. 211ââ¬â216. Pollock, T. G.; Porac, J. F.; Wade, J. B. (2004): Constructing deal networks. Brokers as network architects in the US IPO market and other examples. In: Academy of Management Review 29(1), p. 50ââ¬â72. Reserve Bank of Australia (2017). Online available at http://www.rba.gov.au/statistics/historicaldata.html. Rudolph, S. (2008): Net Present Value Rule in comparison to the payback and internal rate of return methods. In: Working Paper. Sharpe, W. F.; Alexander, G. J.; Bailey, J. V. (1999): Investments: Upper Saddle River, NJ: Prentice-Hall 6. Titman, Sheridan (2015): Financial Management. Principles and Applications. (7th ed.). Frenchs Forest, NSW: Pearson.
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