Financial Management (Agency problem) Prepared by: Sami Hassan Saeed Singabi August 2008 Introduction Economic science teaches us that due to their subjective needs‚ individuals have subjective preferences‚ and hence different interest. Occasionally different subjective interests give rise to conflicts of interest between contracting partners. These conflicts of interest may result in turn‚ in one or both parties undertaking actions that may be against the interest of the other
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Business Law “To create a binding agreement the acceptance must occur‚ and that ‘acceptance’ must be final and absolutely unconditional. This is clear under Australian Contract Law.” As a legacy of being a British colony‚ Australian Law has been very much guided by legislation and case law from England for over two centuries. Even though a number of Acts were passed in the British Parliament gradually enabling the Australian States‚ and from 1901 the Commonwealth‚ to enact their own legislation
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MAKING FORMAL SPEECHES Often this is the most difficult part of oral communication for many people. Selection of the Topic This is the first step in formal speechmaking. You may be assigned a topic‚ such as to introduce a speaker. Here‚ you are likely to be assigned a topic because you have some knowledge of the subject matter (the speaker). In other cases‚ you will have to choose a topic by yourself. Do this using 3 basic factors: 1. background and knowledge (you need some knowledge of the
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Brittney Hodges Psychology 1101 Mr. Marks March 14‚ 2011 Effects of Paternal Absence on Sex Role Development Approximately twenty-six percent of children in America are being raised by a single parent. That accounts for 21.8 million kids under the age of 21 (Wolf‚ 2010). Eighty-four percent of these single parents are mothers. How does not having a father figure in the house all the time affect a child? Research has shown that being raised by a single parent can severely affect a child’s
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AEC is targeted at transforming the ASEAN region into a single market and production base‚ a highly competitive region‚ a region of equitable economic development‚ and a region fully integrated into the global economy. As the saying goes‚ “if you cannot conquer the enemy‚ make him your ally.” If ASEAN becomes one‚ it would be seventh-largest in the world--$2.4 trillion combined GDP in 2013. And with over 600 million people‚ ASEAN’s potential market is larger than the European Union or North America
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Summary of the Article‚ ”Why do firms exist”……….. Ronald Coase may not be as famous as other economists due to his non-recognisable status but at the turn of the century ‚ he was able to achieve a recognisable status by applying practical theories on pre- existing economic theories. Highlights Deregulation revolution of 1980s Re-surfacing the pin factory which was the foundation of division of labour criticism of earlier economics theories of Adam Smith and others. Bureacracy in modern
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Agency problem and its solutions Introduction Principal-agent relationship occurs when a principal contracts an agent. The principal hires the agent to perform a service for him or to act on his behalf. For example‚ in a large corporation‚ shareholders would hire managers to help them to organize the company in dairy business. However‚ agency problems may arise because of the conflict interest and asymmetry information between principals and agents‚ which lead to agency costs. In this essay‚
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Money cannot buy happiness ** Can I use we/us? Good morning/afternoon fellow students and M. Nolan-Wood. Today I will be persuading you guys that money cannot buy happiness. Happiness is defined as an emotional state that indiciates our satisfaction with life; a measure of how favorable we perceive the overall quality of our lives to be. Nowadays all we ever worry about is getting dressed to go to school OR work and driving through traffic in the car that we’re STILL paying for to EVENTUALLY
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FORMAL LETTER * To whom it may concern‚ (…) -.Style.- * Formal greetings and endings; * Formal language.- * Complex sentences. * Frequent use of the passive. * Advanced vocabulary. * No abbreviated forms. -.Paragraphs.- * Paragraph 1.- * Reason(s) for writing. * Paragraphs 2‚ 3‚ 4.- * Development of the subject. * Final paragraph.- * Conclusion. -.Useful language for letters of request.- To begin letters: * I am writing to.- ask if you
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people use the word prejudice to refer to a negative or intimidating attitude toward another social group‚ usually racially defined. Whether we want to believe it or not‚ prejudice exists in all countries and all cultures. Of course prejudice exists. It exists in races‚ ethnicity‚ and sexual orientation. It also exists in many other things whether we want to believe it or not. Many Americans refuse to admit that they are prejudiced‚ but studies have shown that many people still are. In the article
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