...University of Wollongong Research Online Faculty of Commerce - Papers Faculty of Commerce 2006 Corporate Social and Environmental Disclosure in Developing Countries: Evidence from Bangladesh M. Hossain Hail Community College, Saudi Arabia, monirulhossain@yahoo.com K. Islam University of Wollongong, mksi747@uow.edu.au J. Andrew University of Wollongong, jandrew@uow.edu.au Publication Details This conference paper was originally published as Hossain, MA, Islam, KS and Andrew, J, Corporate social and environmental disclosure in developing coutries: evidence from Bangladesh, in Proceedings of the Asian Pacific Conference on International Accounting Issues, Hawaii, October 2006. Research Online is the open access institutional repository for the University of Wollongong. For further information contact Manager Repository Services: morgan@uow.edu.au. Corporate Social and Environmental Disclosure in Developing Countries: Evidence from Bangladesh Abstract This is an exploratory study designed to investigate the extent and nature of social and environmental reporting in corporate annual reports. Specifically, we examine the relationship between social and environmental disclosure and several corporate attributes in a developing country, Bangladesh. In order to do this, we have developed and utilized a disclosure index to measure the extent of disclosure made by companies in corporate annual reports. This study reports significant differences in levels...
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...1163 경영학연구 제40권 제5호 2011년 10월(pp. 1163~1184) Is Cash better than Equity as Takeover Payment? - Learning from Korean Cases Seong-Ho Cho Professor, College of Business Administration Hongik University (shcho11@hongik.ac.kr) ……………………………………………………………………………… This paper examines the relationship between the abnormal stock returns upon announcement and the choice of takeover payment methods, say, cash or equity, for the Korean mergers and acquisitions during 1996-2008 in which for some period, say, 1996-2000, liquidity is very scarce and market is uncertain. We test two hypotheses; first, whether equity payments reduce bidders’ firm value; second, whether cash payments are more (or less) likely preferred by the target shareholders who are facing high uncertainty. Unlike US experience, we fail to find statistical evidence that equity offers reduce bidders’ firm value. Further, while the bidder shareholders gain on average wealth of 1.8% from the M&A transactions, whether they pay in cash or equity, they earn positive 0.1% or 3.5% gain, respectively. These results contradict to the conventional asymmetric information model where market valuation of bidder’s equity plays an important role for the determination of payment alternatives. While examining the wealth gains of target shareholders, we find statistical evidence that cash payments are preferred to equity payments. Further, if they are paid by cash (equity), they earn 6.2% (-5.1%) gain. We conclude that under the liquidity-scarce...
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...Analysing moral issues in stakeholder relations Johanna Kujala Introduction Empirical research on business ethics has traditionally concentrated on examining managers' attitudes to\yard unethical behaviour (e.g. Izraeli 1988, Preble & Reichel 1988, Small 1992) or toward moral dilemmas presented in scenarios (e.g. Cohen et al. 1993, Cruz et al. 2000, Kujala 2000, Reidenbach et al. 1991). A lot of attention has also been given to case studies describing lifethreatening or demanding situations, corporate tragedies or human catastrophes (e.g. Beauchamp 1993, Hoffman 1984, Post 1986, Sethi & Stedlmeier 1991, Shrivastava 1987, and Velasquez 1992). Although all these issues are of utmost importance, they more or less deal with unusual situations and unexpected behaviour, and they can be argued to be beyond the scope of issues on which the managers feel they can exert influence (Waters et al. 1986). It seems that empirical research on ethics in business should be more interested in how managers see the "ordinary life"; the everyday managing situations where they have to face many issues that are moral in their nature (Hosmer 1996: 1, Stark 1993). In the context of studying moral issues in business, the stakeholder approach has gained increasing support in recent years (Van Luijk 2000). It has been found to be a suitable tool for analysing a company's relations with its environment and for dealing with moral issues raised in these relations (Nasi 1995,...
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...Chemical Engineering Science 60 (2005) 4567 – 4580 www.elsevier.com/locate/ces The effects of particle and gas properties on the fluidization of Geldart A particles M. Ye, M.A. van der Hoef, J.A.M. Kuipers∗ Fundamentals of Chemical Reaction Engineering, Faculty of Science and Technology, University of Twente, P.O. Box 217, 7500 AE Enschede, The Netherlands Received 17 November 2004; received in revised form 8 March 2005; accepted 8 March 2005 Abstract We report on 3D computer simulations based on the soft-sphere discrete particle model (DPM) of Geldart A particles in a 3D gas-fluidized bed. The effects of particle and gas properties on the fluidization behavior of Geldart A particles are studied, with focus on the predictions of Umf and Umb , which are compared with the classical empirical correlations due to Abrahamsen and Geldart [1980. Powder Technology 26, 35–46]. It is found that the predicted minimum fluidization velocities are consistent with the correlation given by Abrahamsen and Geldart for all cases that we studied. The overshoot of the pressure drop near the minimum fluidization point is shown to be influenced by both particle–wall friction and the interparticle van der Waals forces. A qualitative agreement between the correlation and the simulation data for Umb has been found for different particle–wall friction coefficients, interparticle van der Waals forces, particle densities, particle sizes, and gas densities. For fine particles with a diameter dp < 40 m, a deviation...
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...Proposal for Research On Capital Structure Determinants of the Pharmaceutical Companies in Bangladesh: A study in Incepta pharmaceutical Company Limited. Mirpur Cantonment, Dhaka-1216 Proposal for Research On Capital Structure Determinants of the Pharmaceutical Companies in Bangladesh: A study in Incepta pharmaceutical Company Limited. Prepared for Md. Sawkat Ali Lieutenant Colonel Internship Supervisor Faculty of Business Studies Prepared by |Ronald Halder | |ID – M 0910013 | |M.B.A 10th batch | Mirpur Cantonment, Dhaka-1216 September 19, 2010 December 19, 2010 Md. Sawkat Ali Lieutenant Colonel Internship Supervisor Faculty of Business Studies Bangladesh University of Professionals Mirpur Cantonment, Dhaka-1216. Dear Sir: Subject: Submission of Proposal for research on “Capital Structure Determinants of the Pharmaceutical Companies in Bangladesh: A study in Incepta pharmaceutical Company Limited”. Here I developed a proposal on “Capital Structure Determinants of the Pharmaceutical Companies in Bangladesh: A study in Incepta pharmaceutical Company Limited”. The proposal will focus on the steps of research through several variables. The main findings of the research will be to find out the determinants of capital structure and find the most vital one through statistical analysis and interpretation. I highly appreciate you for creating such opportunity...
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...The number of international stock market indexes is . quite large. For many of us, the level of the Dow or . the S&P 500 is known. How about the Nikkei 225? Or . the FTSE 100? Do you know what countries these . represent? ------------------------------------------------- Types of indices Stock market indices may be classed in many ways. A 'world' or 'global' stock market index includes (typically large) companies without regard for where they are domiciled or traded. Two examples are and S&P Global 100. A 'national' index represents the performance of the stock market of a given nation—and by proxy, reflects investor sentiment on the state of its economy. The most regularly quoted market indices are national indices composed of the stocks of large companies listed on a nation's largest stock exchanges, such as the American S&P 500, the Japanese Nikkei 225, and the British FTSE 100. Other indices may be regional, such as the FTSE Developed Europe Index or the FTSE Developed Asia Pacific Index. The concept may be extended well beyond an exchange. The Wilshire 5000 Index, the original total market index, represents the stocks of nearly every publicly traded company in the United States, including all U.S. stocks traded on the New York Stock Exchange (but not ADRs or limited partnerships), NASDAQ and American Stock Exchange. Russell Investment Group added to the family of indices by launching the Russel Global Index. More specialized indices...
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...Impacts of Profitability and Financial Leverage on Firm’s Capital Structure By [Your Name] [Instructor’s Name] [Institution’s Name] [Date] Declaration While conducting the proposed research work, I, being a hard-working, innovative and conscientious researcher, come up with the factual severity of consequences allied with an act of plagiarising content from others’ work. Moreover, I do comprehend the rules and regulations my university encompasses against submitting a plagiarised document. Adhering to all these strict and restricted rules and regulations against plagiarism, I have made all possible endeavours to keep my research report under the level of allowed percentage of plagiarism. Before presenting my research report to my esteemed research guiders and professors, I, hereby declare the authenticity and uniqueness of the presented dissertation, which is, by all means, an innovative piece of writing and is an outcome of hypothetically and logically researched facts and figures allied with the project subject matter which I meticulously researched during my investigative course project. Although, this dissertation is an original piece of research but still, there are some ideas, concepts and theories that are being taken and inspired from previously presented works in this particular domain for endowing my researched topic with a literal and theoretical support as well as for influencing the analyzed outcomes of the proposed research-based exposition...
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...Abstract Businesses today face heightened expectations around their role in society and the world, with turning a profit only one of many criteria by which performance is measured. Rising in importance is the impact a company has on its stakeholders, society, and even the planet. Integrated reporting, which encompasses elements of traditional financial reporting, sustainability reporting, and governance reporting within a single presentation, represents a growing trend that reflects these new expectations. The core concept underlying the term “integrated reporting” is providing one report that fully integrates a company’s financial and non-financial (including environmental, social, governance and intangibles) information. Integrated reporting offers the opportunity to centre business reporting on strategy and value creation, to demonstrate how the business uses capital and the extent to which they should continue to be invested in business. Integrated reporting is a journey. Organizations are unlikely to achieve perfection in the first year. In the absence of a generally accepted framework, companies that wish to move toward integrated reporting may encounter several dilemmas around relevance, scope, assurance and other issues. However, as reporting processes for the production of the supporting information are designed and improved and as the executive team begins to benefit from a more informed implementation of the governing structures’ decision, reporting will improve...
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...A COMPREHENSIVE PROJECT REPORT On Effectiveness of Marine Logistics Submitted to S.R. LUTHRA INSTITUTE OF MANAGEMENT IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE AWARD FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION In Gujarat Technological University UNDER THE GUIDANCE OF Faculty Guide: Company Guide: Ms. Parinaz Todiwala Mr.Pravin Dixit Assistant Professor MD (Kshitij Marine Services Pvt. Ltd.) Submitted by Ms. Harshita Kakar [Batch No. 2011-13, Enrollment No. 118050592001] Ms. Nupur Mishra[Batch No. 2011-13, Enrollment No. 118050592005 ] MBA SEMESTER III S.R. LUTHRA INSTITUTE OF MANAGEMENT - 805 MBA PROGRAMME Affiliated to Gujarat Technological University Ahmedabad December, 2012 Company Certificate (For Sem. 3) (On Company Letterhead) This is certified that Ms. Harshita Kakar and Ms. Nupur Mishra from S.R. LUTHRA INSTITUTE OF MANAGEMENT, are carrying out the research on the subject titled “ ” at this company / organisation under the supervision of Mr. Pravin Dixit, from Sep, 2012 to Dec, 2012. I also certify that, the above mentioned students have carried the research work satisfactorily. Place: - Surat Date: - _________ ( to be announced later on) ________________ (Name & Designation) Students’ Declaration We, Ms. Harshita Kakar &...
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...Human Resource Accounting Human Resource Accounting Literatur Review To measure human value as a part of the goodwill, HRA was introduced in the accounting literature in the 1960s (Flamholtz, 1985). In 1968 Brummet, Flamholtz & Pyle used the term “human resource accounting” for the first time. In 1973 the American Accounting Association’s Committee on Human Resource Accounting defined HRA as “the process of identifying and measuring data about human resources and communicating this information to interested parties. It provides information about human resource costs and values, serves to facilitate to decision making, and motivates decision makers to adopt a human resource perspective (Sackmann et al., 1989,). Research to examine the way in which human resource variables affect the efficiency of firms could be performed in a number of ways including analyzing the association between different aspects of human resources and firm performance (Bassi & McMurrer, 1998; Boudreau & Ramstad, 1997; Grojer, 1998). Looking at different proposals (Conner, 1991), the resource theory considers human resources in a more explicit way. This theory considers that the competitive position of a firm depends on its specific and not duplicated assets. The most specific (and not duplicated) asset that an enterprise has is its personnel. It takes advantage of their interdependent knowledge. That would explain why some firms are more productive than others. With the same technology, a solid human...
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...A SUCCESS STORY: EVALUATING BUNGE’S STRATEGY Abstract This section will determine the scope, aims and objectives of the report. The rational of selection of Bunge Limited in context of operations strategy analysis along-with the report purpose and pattern will be briefed. Introduction This section will contain a brief history of Bunge Limited over 180 years, summary of involved business will be observed by segregating core and non-core activities of the group, core activity is influenced by agribusiness in the fields of grain origination, oil seed processing and international marketing, while non-core business will contain textile, paint, chemical, cement, banking, and insurance and real estate ventures. Agribusiness Trends The competitiveness in agribusiness sector depends on technological, socio-political and economic factors (Esterhuizen, 2006: p72). This section will discuss agribusiness trends, nature of required capabilities for sustainability and will associate three sub sections a) Scenery- This section will examine the contents of business and its products; wheat, corn, soybeans, vegetable oil and protein meals. b) Factors- This section will detail the factors affecting business both in terms of negativity and positive ness. Impacts of population rate, role of non-Americano markets, Asian crisis, technology innovation, export conditions, business contracts and customer’s trends will be presented c) Risks- Turmoil in financial markets and volatility...
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...Academic Research Protecting Organization Reputations During a Crisis: The Development and Application of Situational Crisis Communication Theory W. Timothy Coombs Department of Communication Studies, Eastern Illinois University, Charleston, IL, USA ABSTRACT Crisis managers benefit from understanding how crisis communication can be used to protect reputational assets during a crisis. Situational Crisis Communication Theory (SCCT) offers a framework for understanding this dynamic. SCCT provides a mechanism for anticipating how stakeholders will react to a crisis in terms of the reputational threat posed by the crisis. Moreover, SCCT projects how people will react to the crisis response strategies used to manage the crisis. From its empirical research emerges a set of evidence-based crisis communication guidelines. The development of SCCT is discussed along with the presentation of its guidelines for crisis communication. Corporate Reputation Review (2007) 10, 163–176. doi:10.1057/palgrave.crr.1550049 KEYWORDS: crisis communication; crisis man- agement; reputation INTRODUCTION Crises are taken as a threat to the organizational reputation. Crises damage the reputation and such changes can affect how stakeholders interact with the organization (Barton, 2001; Dowling, 2002). Postcrisis communication can be used to repair the reputation and/or prevent reputational damage (Coombs and Holladay, 2005). The field of crisis communication is dominated by case studies. The end result...
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...A COMPREHENSIVE PROJECT REPORT On Effectiveness of Marine Logistics Submitted to S.R. LUTHRA INSTITUTE OF MANAGEMENT IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE AWARD FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION In Gujarat Technological University UNDER THE GUIDANCE OF Faculty Guide: Company Guide: Ms. Parinaz Todiwala Mr.Pravin Dixit Assistant Professor MD (Kshitij Marine Services Pvt. Ltd.) Submitted by Ms. Harshita Kakar [Batch No. 2011-13, Enrollment No. 118050592001] Ms. Nupur Mishra[Batch No. 2011-13, Enrollment No. 118050592005 ] MBA SEMESTER III S.R. LUTHRA INSTITUTE OF MANAGEMENT - 805 MBA PROGRAMME Affiliated to Gujarat Technological University Ahmedabad December, 2012 Company Certificate (For Sem. 3) (On Company Letterhead) This is certified that Ms. Harshita Kakar and Ms. Nupur Mishra from S.R. LUTHRA INSTITUTE OF MANAGEMENT, are carrying out the research on the subject titled “ ” at this company / organisation under the supervision of Mr. Pravin Dixit, from Sep, 2012 to Dec, 2012. I also certify that, the above mentioned students have carried the research work satisfactorily. Place: - Surat Date: - _________ ( to be announced later on) ________________ (Name & Designation) Students’ Declaration We, Ms. Harshita Kakar &...
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...Journal of Management Studies 44:8 December 2007 doi: 10.1111/j.1467-6486.2007.00719.x A Modern Resource Based Approach to Unrelated Diversification Desmond W. Ng Texas A&M University abstract For over three decades, the questions of how and why an organization diversifies into related and unrelated businesses have drawn the attention of strategy scholars. However, explanations of unrelated diversification have been less than clear. A conceptual model of unrelated diversification is thus proposed. In drawing on Penrose’s (1959) resource based approach, unrelated diversification is explained by an organization’s ‘three pillars’, which consist of its strength of dynamic capabilities, absorptive capacity, and weak ties. The role of the three pillars is to discover new resource applications or uses in conditions of market failure that are characterized by ‘incomplete’ markets. A novel feature of this model is that an organization can diversify more broadly than predicted by Penrose (1959) and other modern resource-based approaches (Teece et al., 1997). Furthermore, unrelated diversification can be beneficial. This study also offers suggestions to measure the three pillars; its contributions and implications are discussed as well. INTRODUCTION The questions of how and why an organization diversifies into related and unrelated businesses have been a central focus of strategy research (Palich et al., 2000; Rumelt, 1974; Teece, 1982). These diversifications have been defined by the degree...
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...measurement of a company has been the subject matter of discussion to the planners, administrators, managers, economists and academicians since long. There is a need for comprehensive consideration company so that their performance can be objectively evaluated. The major indicators may be – I. Liquidity Ratio II. Profitability Ratio III. Solvency Ratio IV. Efficiency / Activity Ratio V. Common-size Statements VI. Trend Analysis VII. Multivariate Model of Distress Prediction. Scope of the Study: Eastern Cables Ltd. is the holding Cables organization carrying operation in Bangladesh. This Study is limited to only Eastern Cables Ltd. This Study could not cover other private business operating in Bangladesh mainly because of difference in objectives and management structure. The empirical analysis of the Study covered 5 years ranging from 2000 to 2005 Methodology of the Study: The key areas of performance evaluation can be identified as financial performance, managerial performance, operational performance, marketing performance or the overall performance. A proper evaluation of the financial performance of any company can be done through the techniques of financial analysis of the accounting data presented in the financial statements which includes mainly – I. Balance Sheet II. Profit & Loss AIC and III. Cash / Fund flow statement ...
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