Finance - 5383 Words

FINANCE 2 ASSINGMENT 2011-2012 Nikesh Hindocha (10044607) Part A. Introduction As part of my assignment, I have been asked to discuss the following statement â€Å"Mergers and acquisitions can be value destroyers or value creators†. A merger can be defined as when two equal businesses in terms of profit margin and status, combine in order to become one legal entity. Initially, the fundamental reason for this merge is to produce a company that is worth more than the sum of its parts. An acquisition is where one company acquires a controlling interest in another company. The combination of these unequal companies can produce the same or even more benefits as a merger would. In different cases, these mergers and†¦show more content†¦Ã¢â‚¬Å"Building profitable businesses creates value. The board of directors and management’s primary responsibility is to increase company value and shareholder wealth. Shareholders invest in businesses seeking a significant return on their investment. They expect the reward to be appropriate for the business and financial risks of an unsure future. â€Å"Article: The Key to Creating Shareholder Value Knowledge Begins with Simple Cigar Box Accounting†)[2.]. The strategies and approaches employed by the company will help determine if the business has created value for the shareholder. In the case of Cadbury Schweppes, where the significant aim was to increase shareholder value, their primary aim is to focus on growth markets, improving brands and innovation in order to gain their objectives. (Source- annual report, 2000 Cadbury Schweppes) Value Destroyers Even though the fundamental objective for mergers and acquisitions is to create value, there may be factors involved that cause the value to be destroyed. It is believed that the prime component of why acquisitions fail is due to the fact that they paid too much to control it, which in turn leaves them with huge debts. The buyer may find that the premium they paid for the acquired company s shares (the so-called winner s curse) wipes out any gains made from the acquisition (Henry 2002). The differences in corporate culture play a substantial role in theShow MoreRelatedFinance1352 Words   |  6 Pagesfinancial manager differ from the traditional financial manager? Does the modern financial managers role differ for the large diversified firm and the small to medium size firm? The traditional financial manager was generally involved in the regular finance activities, e.g., banking operations, record keeping, management of the cash flow on a regular basis, and informing the funds requirements to the top management, etc. But, the role of financial manager has been enhanced in the todays environment;Read MoreFinance1074 Words   |  5 PagesCORPORATE FINANCE COURSE CORPORATE FINANCE 2.1 Working Capital Management Sept. 2014 Ir Frank W. van den Berg mba Vrije Universiteit, Amsterdam ALYX Financial Consultancy bv, Aerdenhout FWvdB/2014 1 OUTLINE CORPORATE FINANCE FWvdB/2014 †¢Ã¢â‚¬ ¯ Basics Guiding principles †¢Ã¢â‚¬ ¯ Time value of money + Capital Budgeting †¢Ã¢â‚¬ ¯ Valuation of CF + Bonds †¢Ã¢â‚¬ ¯ Valuation of shares (+ co.’s) †¢Ã¢â‚¬ ¯ Financial Analysis (Ratios) †¢Ã¢â‚¬ ¯ Financial Planning (EFN) †¢Ã¢â‚¬ ¯ à  Ã¯Æ'   Working Cap. Mgt. (A/R,Read MoreThe Finance1054 Words   |  5 Pagesrequires intentional short-term and long-term planning. More importantly, in order for capital management to be deemed successful, it is required that all members of an organization are on board. â€Å"Capital budgeting is not only important to people in finance or accounting, it is essential to people throughout the business organization†lt; /spangt; (Block, Hirt, amp; Danielsen, 2011). As the duration of the investment period increases, and the size of investment increases, the residual risk also increasesRead MoreEquity Finance And Debt Finance823 Words   |  4 PagesStockholders are those entities who provide a company with the risk capital such as preference share owners and ordinary share owners (Freeman and Reed, 1983). Generally, stockholderis one of long-term finance providers with the aim to maximize their wealth.According toBrickleyet al. (1985), long-term finance provi ders are more likely to focus on the matter whether the financial structure in the company is sound or not and the durability of profitabilityrather than temporary profits that a potentiallyRead MoreFinance, Economics, And Finance Essay1245 Words   |  5 Pagesalso studied business, management, economics, and finance. These courses impressed upon me the importance of the financial sector in the economy. Finance professionals have the unique responsibility of managing assets and analyzing risks to ensure the future success of a company or organization. It is difficult to overstate the importance of this role, as the financial crisis of 2009 showed. It is due to my understanding of the importance of finance and investment, coupled with my longstanding interestRead MoreFinance : Finance A Carry Trade1144 Words   |  5 PagesIn finance a carry trade is a strategy that consists of borrowing at a low interest rate currency to fund investment in higher yielding currencies. (Moffett) Th e country in which the investors borrow from is called the funding country and the country where the investment occurs is called the target country. (4) Carry trade is also termed currency carry trade; this strategy is speculative in that the currency risk is present and not managed or hedged. (Moffett) Although there are several complicatedRead MoreFinance, Banking And Finance Industry2170 Words   |  9 Pagescomplete your transaction and move on with your day. The last thing on your mind is how that transaction is taking place. You don’t care what happens behind the scenes as long as your money is where it needs to be and is safe. As the banking and finance industry has transformed, so has the process of how your money is handled. To accompany those changes, regulators and lawmakers create laws designed to protect consumers, banks, and the economy as a whole. As you will learn, the history of the bankingRead MoreFinance : Finance A Carry Trade Essay1144 Words   |  5 Pages In finance a carry trade is a strategy that consists of borrowing at a low interest rate currency to fund investment in higher yielding currencies. (Moffett) The country in which the investors borrow from is called the funding country and the country where the investment occurs is called the target country. (4) Carry trade is also termed currency carry trade; this strategy is speculative in that the currency risk is present and not managed or hedged. (Moffett) Although there are several complicatedRead MoreFinance998 Words   |  4 PagesPlant Improvements Total Investments: total investment in plant and equipment brought forward from the Production spreadsheet. Sales of Plant and Equipment : total sales of plant and equipment brought foraad from the Production spreadsheet. Common Stock * Shares Outstanding: The number of shares of common stock in the hands of shareholders. Reflect any issue/ retire stock transaction at the beginning of this year * Price Per Share: stock price as of yesterday’s close. Stock will be issuedRead MoreInternal Sources Of Finance And Finance Essay2349 Words   |  10 PagesInternal sources of finance: Internal sources of finance are funds that arise from within the business such as profits as they can be retained to grow the finance and selling assets. Retained profit Retained profit is the money kept in the company after paying dividends. It is used to reinvest in the business or to pay debt. It comes by a business after it makes profit and is kept separate to use in other ways such as expanding the business by developing new buildings or certain areas, buying new

Cognitive Explanation of Gambling Addiction (10 Mark) Free Essays

Outline and evaluate the cognitive explanation of gambling addiction (4 marks + 6 marks) The cognitive explanation of addiction focuses on the way humans’ process information, viewing addicts as people who have faulty thoughts/judgements. The faulty thinking that surrounds a gambling addiction, according to the cognitive approach, is the belief that we will win, or at least be able to control the odds of winning, for example, a gambling addict, using his/her ‘lucky numbers’ on the lottery gives them some control over the outcome of the gamble. According to the cognitive model, a gambling addiction may be maintained by irrational or erroneous beliefs. We will write a custom essay sample on Cognitive Explanation of Gambling Addiction (10 Mark) or any similar topic only for you Order Now For example, some gamblers may misjudge how much money they have won or lost, or they may over-estimate the extent to which they can predict/influence gambling outcomes. Griffiths held a study looking into these irrational biases, using fruit machine gamblers. His aim was to discover whether regular gamblers thought and behaved differently to non-regular gamblers. He compared the verbalisations of 30 regular and 30 non-regular gamblers as they played a fruit machine. Griffiths found that regular gamblers believed they were more skilful than they really were, and that they were more likely to make irrational verbalisations during play, for example, regular players may say ‘putting only a quid in bluffs the machine’, or they would treat the machine as if it were a person, giving it emotions: ‘this fruity isn’t in a good mood’. Regular gamblers also explained away their losses be seeing ‘near misses’ as ‘near wins’, i. . they weren’t constantly losing but constantly ‘nearly winning’, something that justified their continuation. The cognitive model also uses heuristics as an explanation of addictive behaviour. Heuristics are used to simplify decisions and justify behaviour, for example, some gamblers will have ‘hindsight bias’, saying after a gambling sessi on that they knew what was going to happen. This makes gamblers feel empowered as it suggests they have some control over their wins/losses. Other gamblers may use flexible attribution; this is where they ttribute any wins to their own skill and any losses to other influences. Others may solely concentrate on how much they won ignoring how much they lost to get it. This is called absolute frequency bias. The theories of the cognitive approach are strengthened by the substantial amount of evidence that supports its general principles, for example, it has been shown that alcoholics, smokers, over-eaters, gamblers and opiate addicts were particularly likely to lapse when they experienced negative emotional states. A further strength of the model is that it has initiated implications for treatment, for example, the cognitive approach has made clear that the relapse prevention model must be tailored to each individual addict. However, the model is criticised as there have been claims that irrationality is an erratic predictor of addictive behaviour, irrationality does not appear to have a strong relationship with other observable assets of gambling, such as level of risk taking or reinforcement frequency. Therefore cause and effect of cognitive bias cannot be established. Cognitive explanations may also be limited to particular addictions, for example, it may be less relevant to chemical addictions like heroin, but is useful and effective explanation for gambling or video game addiction. It is also difficult to establish cause and effect over skill perception and gambling – beliefs about skill in gambling vary across individuals, such beliefs are not necessarily irrational either. How to cite Cognitive Explanation of Gambling Addiction (10 Mark), Papers

Gender Planning And Development The Theory -Myassignmenthelp.Com

Question: Discuss About The Gender Planning And Development Theory? Answer: Introduction Over the years, the global social scenario has experienced considerable dynamics and transformations with the way of living, quality of life, general mindsets and social level of acceptance increasing considerably. In this aspect, women have progressed substantially in all the aspects of life, in a global framework, which especially includes the educational and professional aspects. Women, in the last few decades have progressed phenomenally, reducing the gaps, which existed in terms of the privileges, advantages, and opportunities, which the two genders of the society, received (Boston O'Grady, 2015). Women are increasingly exploring newer opportunities and are marking their presence increasingly in almost all the personal as well as professional domains of life. However, though women have infiltrated in all the professional domains of the society, there still remains several aspects where gender inequality still prevails, especially in the professional domains of the society in the global scenario. The primary areas of concern in workplaces where women in general face discrimination and remain less advantageous than their male counterparts are in the aspects of payment and position. In spite of women progressing significantly and becoming at par with the male counterparts, they still often are discriminated in terms of acknowledgement and compensations in the workplaces across the world (Abc.net.au, 2018). Keeping this into account, the concerned report tries to discuss the problems of gender discrimination in the contemporary workplaces and the steps which have been taken by the employers to combat the same, from the perspective of human resources management. To discuss the same, it takes reference of an article by John Hilton, which is summarized in the following section. Article Summary The article named Is HR doing enough to address gender inequality? by John Hilton, published in Human Resource Director, Australia on 14the December, 2017, takes into account the dynamics related to the gender pay equity issues in different eminent business organizations and the steps and perceptions of the relevant officials in dealing with the problem. The article takes into account the Gender Equality Agency data on 2016-2017, which shows that the employers in the last few years have progressed extensively in the perspective of addressing the issue of gender pay gaps present in the economy in an overall basis, in Australia (Hilton, 2018). The article takes into account the perceptions of several relevant officials, which includes the belief of Peter Acheson, the CEO of the People Bank, as a Pay Equity Ambassador. According to him, in the country, there is prominent presence of gender pay gap in all the strata of professional scenario of the country and it exists irrespective of the designation and job roles of women in general. According to him, the biases can be both conscious as well as unconscious, with the employers often not realizing that they are bringing in gender bias. In this aspect, he also highlights the aspects like the usage of words in their job ads, which creates perception among the women labor force that they are not eligible for some jobs, thereby creating unintentional gender bias (Dipboye Colella, 2013). The article also puts up the views of Colin Brookes, the director of SAP, according to whom there still exists considerable pay gap with respect to gender across the country. He also puts forward the steps, which have been taken by his company to combat this situation, which includes same starting salaries, similar job roles for same skilled personnel and also flexibility in the workplace. Currently, the gender pay gap of the company exists at 2%, which the company has committed to reduce to zero. Gender Inequality in Workplace From the above article and the assertions of the people whose perceptions have been included, it becomes evident that in the contemporary workplace, gender discrimination still exist and the main arena of concern is the inequality in payment between the male and female employees in the workplaces. Australia, though being one of the predominantly developed economies of the world and though have progressed significantly in the aspects of economic growth and development of the population, including female population specifically, still encounters the problem of gender inequalities in the workplaces (McLaughlin, Uggen Blackstone, 2012). Australia, though experiencing significant progress industrially, there still exists significant gender discrimination in terms of payment in the workplaces as it has been seen that even in the contemporary periods; women earn nearly 24% less than that of men in the country. The pattern of discrimination between men and women work force in the country becomes even more prominent with the help of the following figure: As can be seen from the above figure, women are predominantly present in those jobs in the country, whose pay scale are low, while the high paid jobs are mainly taken by the male population of the country. There is another prominent trend, which can be seen from the above figure. As the pay scale goes on increasing, the number of women workers goes on decreasing while the number of men workers goes on impressively increasing (Tomaskovic-Devey, 2014). This in turn indicates towards the fact that there exists considerable discrimination in terms of gender, in the country, when it comes to the types of jobs and the salary structure, with the male population being highly privileged. Apart from the aspect of types of jobs, inequality also exists in the aspect of payment among male and female employees of the country and this is present in private as well as in the public sectors, which can be seen as follows: As can be seen from the above figure, the pay gap exists significantly in private sector as compared to the public sector and surprisingly it had actually increased with time, which is alarming. This is because for a country as developed as Australia, the presence of high gender gap in the private sector, especially in the current period indicates towards the presence of lower economic as well as social welfare for the women in the country (Fujimoto, Azmat Hrtel, 2013). Reasons behind the presence of gender pay gap in Australia The above discussion and the empirical evidences, present in the country points towards the presence of visible gender gap in the workplace of the country, especially in terms of payments and other incentives. There are several plausible reasons behind the presence of such gender gaps in the country, the primary ones being as follows: One of the primary reasons behind the discrimination among the employees regarding wage gap is that the female workforce mainly participates in the part time jobs, with nearly 75% of the total part time workers of the country being female. The female-dominated companies in the country are also seen to be low paid. The industrial segregation also exists in terms of the male-female pay gaps (Smith, Caputi Crittenden, 2012). One of the primary reasons behind the presence of such wage gaps in all the sectors of the professional domain of the country is the aspect of childcare. Around 62% of all the employed female in the country with children under five years of age had been found to work part time. The percentage of parental leave taken by women in the country is also significantly higher than the percentage of that of men. The aspect of childcare and parental leave also makes women much less competitive and capable apparently in the eyes of the employers, which affect their career growth negatively, thereby aggravating the problem of gender pay gap in the workplaces even more apparent in the contemporary period, especially in the private sector of the country (Hacker, 2017). Keeping this into account in reference to the problems of gender discrimination in the professional domain of the country, there arises the need for proper policies to eradicate the problem of gender pay in the country. The human resource department of the companies being the ones responsible for efficient employee management and enhancement of their performance, there are several steps and policies which can be taken into consideration for the purpose of tackling the problem of gender pay gap in the country (Bandiera Natraj, 2013). Steps to remove gender pay gap: Human Resource Perspective a) Gender unbiased payment system- One of the primary steps, which can be taken by the companies to remove the gap, is by setting up a payment framework, which compensates both the genders equally, based on their capabilities and job roles and not on their genders. b) Reducing gender stereotypes- The companies and especially the management of the companies need to change their mindsets to reduce the stereotypes, which exist in the professional domains of the companies in the country. These stereotypes mainly exist in terms of the notion that women are less capable and contribute less productivity to the organization due to their professional commitments (Bratton Gold, 2012). c) Pro-Active human resource department- The human resource department presents in the companies should be active and responsive enough to keep a vigilant eye on the operational framework such that no pay gaps or discrepancies exist which make the female employees feel less valued and thus less motivated to work. d) Uniform regulations for all the employees- One of the primary ways to combat gender equality in all the aspects of the professional domain is the presence of uniform regulatory framework in the company, which includes rules regarding uniform rules and others. e) Punishment for gender discrimination- Gender discrimination, in the workplaces, not only occur in terms of payment to the employees but also in terms of general approach of the male employees and management towards the female workers, indecent behavior and other offences which makes the female employees feel de-motivated and threatened to work in such companies (Moser, 2012). f) Leadership roles- Inequality in genders across the professional domains can also be substantially removed by giving different administrative roles and leadership chances to the female employees of the companies, which contribute significantly in empowering the female employees of the companies and of the country in general. Conclusion From the above discussion, it is evident that in spite of significant progress of employment sectors and professional domains across the globe and women making mark in almost all the professional domains, there still exists the problem of gender inequality in the professional domains of people, in the global framework in general and specifically in Australia. Although many employers have progressed to some extent in this aspect, by taking appropriate steps in reducing the gender pay gaps and other discriminations in the workplaces, there still remains avenues of improvement for the others in the country, which if implemented appropriately can help in combating the problem efficiently. References Abc.net.au. (2018).Gender inequality still rampant in Australian workplaces: report.ABC News. Retrieved 5 February 2018, from https://www.abc.net.au/news/2015-11-26/gender-inequality-still-rampant-in-australian-workplaces-report/6976452 Aph.gov.au. (2018).Women in the Australian workforce A 2013 update Parliament of Australia.Aph.gov.au. Retrieved 5 February 2018, from https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/FlagPost/2013/March/Women_in_the_Australian_workforce_A_2013_update Bandiera, O., Natraj, A. (2013). Does gender inequality hinder development and economic growth? Evidence and policy implications.The World Bank Research Observer,28(1), 2-21. Boston, S., O'Grady, F. (2015).Women workers and the trade unions. Lawrence Wishart. Bratton, J., Gold, J. (2012).Human resource management: theory and practice. Palgrave Macmillan. Dipboye, R. L., Colella, A. (Eds.). (2013).Discrimination at work: The psychological and organizational bases. Psychology Press. Etax.com.au. (2018).Gender Inequality Growing: Women's Salaries in Australia....Etax.com.au. Retrieved 5 February 2018, from https://www.etax.com.au/gender-inequality-womens-salaries-australia/ Fujimoto, Y., Azmat, F., Hrtel, C. E. (2013). Gender perceptions of work-life balance: Management implications for full-time employees in Australia.Australian Journal of Management,38(1), 147-170. Hacker, S. (2017).Pleasure, power and technology: Some tales of gender, engineering, and the cooperative workplace(Vol. 5). Routledge. Hilton, J. (2018).Is HR doing enough to address gender inequality?.HR Online. Retrieved 5 February 2018, from https://www.hcamag.com/hr-business-review/leadership-development/is-hr-doing-enough-to-address-gender-inequality-244874.aspx McLaughlin, H., Uggen, C., Blackstone, A. (2012). Sexual harassment, workplace authority, and the paradox of power.American sociological review,77(4), 625-647. Moser, C. (2012).Gender planning and development: Theory, practice and training. Routledge. Smith, P., Caputi, P., Crittenden, N. (2012). A maze of metaphors around glass ceilings.Gender in Management: an international journal,27(7), 436-448. Tomaskovic-Devey, D. (2014). The relational generation of workplace inequalities.Social Currents,1(1), 51-73.