Dr Martin Luther King Jrs Influence on the Social and...

Few Americans have had as tremendous an influence on the social and political culture of the country as Dr. Martin Luther King, Jr. Kings most formative writings and sermons dated from when he was just a teenager in seminary school (Kuruvila, 2007). Kings character was formed within the forge of the Christian faith. It was from a firm bedrock in Christianity that Kings concepts of morality and spiritual justice sprouted. However, Kings political and social activism also bore roots in the rich soil of philosophy. As Blakely (2001) points out, As Martin moved on to the seminary, he began to pass countless hours studying social philosophers, including Plato, Aristotle, Rousseau, Hobbes, Bentham, Mill, and Locke. Next, Thoreau, Hegel and Marx grabbed Kings attention, as did Reinhold Niebuhr and of course Mohandas K. Gandhi (Blakely, 2001). It was Gandhi who perhaps had the strongest influence on Kings methodologies of civil disobedience. Therefore, Kings theories and methods did not evol ve in a vacuum of American backwardness. King was fighting against the current of racism that gripped the American South, but he did so in an educated and thoughtful manner. Moreover, King drew from the strength of the burgeoning black empowerment and black nationalism movements of leaders as diverse as Marcus Garvey and W.E.B. Du Bois. Martin Luther King, Jr. would synthesize this complex and powerful array of formidable philosophical influences. King is a Christian herald because heShow MoreRelatedEssay His 135 Week 9 Final Project3576 Words   |  15 Pagesmostly the bad times like the wars, the civil rights movements, President Kennedy’s and M. L. King Jr’s associations, just to name a few. In this paper I will discuss those and more going into the start of the 21st century. The previous five decades consisting of the 1950s into the millennium happened during the U.S. History equally turbulent, but exciting. There also were numerous transformations within social, governmental, plus technological sections, but the WWII era currently seems rather prehistoricRead MoreThe Role Of Music Festivals On The Inner City Muslim Action Network ( Iman ) Essay2375 Words   |  10 PagesIn Iranian jails, artists, musicians and filmmakers are held as prisoners on charges of â€Å"insulting Islamic sanctities† through their work. Coordinated by Amnesty International, the #FreeArtists social media campaign was recently launched to secure artists’ release. Considered the â€Å"nail in the coffin for freedom of expression in Iran,† the imprisonment of these artists was an attempt by Iranian authorities to silence what was considered sacrilegious rhetoric in their works. For most Americans, the

The Foreign Corrupt Practices Act - 1320 Words

I. Introduction The Foreign Corrupt Practices Act (â€Å"FCPA†) is the first globally enforcing statute making anti-corruption effort in the world. It has been known for the broad enforcement coverage in terms of the worldwide governing jurisdiction and anti-gaming legislative approach leading to a long time debates and discussions among practitioners and law commentators. This paper will focus on improving one of the undefined and broadly interpreted terms - â€Å"instrumentality† in the anti-bribery provisions of FCPA which essentially serves as the catch-all legislative device to prevent gaming, however, on the other hand, leaving problems in terms of ambiguity in interpretation. This paper will first provide an overview of the FCPA. Second, this paper will explain the global enforcement impact for the multi-national businesses. Thirdly, this paper will discuss the importance and problems of the term â€Å"instrumentality† applied in the anti-bribery provisions of FCPA. The n, this paper will try to identify the essence of â€Å"instrumentality† and its related problems through studying relevant cases. Finally, this paper will offer solutions in order to solve the current problems related to â€Å"instrumentality† interpretation and draw the conclusion. For the purpose of narrowing the focus of this paper, the discussion and analysis will be mainly based on the anti-bribery provisions of FCPA regulating the issuers. II. Overview of FCPA A. Triggering Events of Enacting FCPA Back to 1970s,Show MoreRelatedThe Foreign Corrupt Practices Act1442 Words   |  6 PagesThe Foreign Corrupt Practices Act has been pursued by government agencies recently as the SEC, the FBI, and Department of Justice are cracking down on international business corruption. Companies are working harder at expanding economically in the market by doing business with individuals and other companies in foreign countries. Foreign countries are not always in compliance with US laws and regulations, causing US companies who deal with them issues with compliance on the home front. Because ofRead MoreThe Foreign Corrupt Practices Act1551 Words   |  7 PagesThe foreign Corrupt Practices Act prohibits paying or offering anything of value to foreign officials for the purpose of obtaining or keeping a business. The FCPA was enacted by congress in 1977 due to various reports that were made by the Security and Exchange Commission (SEC). The Security and Exchange Commission (SEC) reported differ ent issues concerning bribery and illegal payments by United Sates companies. The FCPA states that it’s unlawful to make payments to foreign officials; having a corruptRead MoreForeign Corrupt Practices Act :1275 Words   |  6 PagesRunning Head: FOREIGN CORRUPT PRACTICES ACT 1 FOREIGN CORRUPT PRACTICES ACT BUSINESS LAW Katherine Hall-Blair Keiser University FOREIGN CORRUPT PRACTICES ACT 2 FOREIGN CORRUPT PRACTICES ACT In the face of improper payments to officials abroad, the United States introduced the Foreign Corrupt Practices Act (FCPA) of 1977. This act was a pioneer step for the government of the United States to combat illegal bribes by not only U.S. companies, but overseas companiesRead MoreForeign Corrupt Practices Act1207 Words   |  5 PagesFCPA PAPER The Foreign Corrupt Practices Act of 1977 (FCPA) evolved from investigations by the Office of the Special Prosecutor that provided evidence of illegal acts perpetrated by U.S. firms in foreign lands. More than 400 U.S. companies admitted to making questionable payments to various foreign governments and political parties as part of an amnesty program (U.S. Department of Justice http://www.usdoj.gov). Given the environment of the 1970s and the proliferation of white-collar crimes (e.gRead MoreForeign Corrupt Practices Act :836 Words   |  4 PagesVincent Petraro Foreign Corrupt Practices Act Foreign Corrupt Practices Act was introduced in 1977.It was made effective from December 19, 1977. Foreign Corrupt Practices Act applies to all citizen of United State and certain foreign issuers of security and foreign companies. The Minor changes were made in the year 1988 and in 1998.Foreign Corrupt Practices Act has two main Provision (a)Accounting Transparency under Securities Exchange Commission, 1934. (b)Bribery of Foreign Officials. DepartmentRead MoreThe Foreign Corrupt Practices Act1181 Words   |  5 PagesWhile reading this case analysis, The Foreign Corrupt Practices Act came into discussion as an underlying factor in Weihardt’s decision. The Foreign Corrupt Practices Act was enacted for the purpose of making it unlawful for certain classes of persons and entities to make payments to foreign government officials to assist in obtaining or retaining business. This practice applies to Weinhardt in the fact that he was given the opportunity to give Lee a bribe to obtain Lees’ business. If WeinhardtRead MoreThe Foreign Corrupt Practices Act654 Words   |  3 PagesThe Foreign Corrupt Practices Act The Foreign Corrupt Practices Act (FCPA) of 1977 and the corresponding amendments set forth by the Omnibus Trade and Competitiveness Act of 1988 and Amendments of 1998 have tremendous ramifications for U.S. multinational companies at large, their subsidiaries, and foreign partners.   While the main purpose of the original policy was to make it â€Å"unlawful to bribe foreign government officials to obtain or retain business†, the many statutes, their exceptionsRead MoreThe Foreign Corrupt Practices Act1028 Words   |  4 Pagesproblems. Such is the case with the Foreign Corrupt Practices Act - passed with the purpose of keeping companies that do business in the US ethical in their business dealings. The main purpose of the act is to prevent companies from paying bribes to foreign officials, though there are other provisions included. It is only fitting that Wal-Mart, the largest retail store in the United States (2013 Top Global Retailers) has had allegations of wron gdoing related to the act. Wal-Mart was reported to haveRead MoreThe Foreign Corrupt Practices Act Of 19771104 Words   |  5 PagesThe Foreign Corrupt Practices Act of 1977 (FCPA) evolved from investigations by the Office of the Special Prosecutor that provided evidence of illegal acts perpetrated by U.S. firms in foreign lands. More than 400 U.S. companies admitted to making questionable payments to various foreign governments and political parties as part of an amnesty program (U.S. Department of Justice http://www.usdoj.gov). Given the environment of the 1970s and the proliferation of white-collar crimes (e.g., insider tradingRead MoreEssay On Foreign Corrupt Practices Act1405 Words   |  6 PagesVu Le Vu LGLS 3562 Michael Valenza December 7th, 2017 Foreign Corrupt Practices Act (FCPA) FCPA Background The U.S. Foreign Corrupt Practices Act (the â€Å"FCPA† or the â€Å"Act†) is one of the primary statutes in the U.S. for fighting against corruption around the world. After the Watergate scandals and revelation of widespread corruption and bribery all over the globe by U.S companies, the FCPA was established in 1977 by Congress [1]. Before passing the FCPA, the government found that more than 400 companies

The Capital Asset Pricing Model Theory and Empiricism

Question: Describe about The Capital Asset Pricing Model of Theory and Empiricism? Answer: 1 There is a saying Dont put all your eggs together. Its suggests to spread the portfolio and diversify it accordingly, i.e., diversify our stocks. In world of finance, diversification implies reducing the non-systematic risk by diversifying the investment into different securities. So to protect investors portfolio from a market downturn, he should diversify his portfolio. The more there is a low correlation between the returns in the assets, the more the diversification benefits will be realized. It offers investors the following benefits: isk reduction: A stock has two types of risks, systematic and unsystematic risks. By investing in a single stock, the investor bears both the risk. But by creating a diversified portfolio comprising of different types of financial assets will reduce the overall risks. It may not eliminate risks but it helps in reducing the risk to acceptable level. In a portfolio that is diversified the risk that is unsystematic is eliminated and there is a scope is fully eliminated. Capital preservation: It helps investor to protect their capital by allocating money to different investments. There are some investors who use capital preservation as their investment strategies. Hedging the portfolio: It helps in enable to portfolio to give better return even when the market crumbles. By investing in both equity and bond market an investor can earn positive return from one market even when the other market gives negative return. Thus it hedges the overall portfolio against downside risk.(Burton, 1998) The investment should be diversified among the different class of assets such as there are bonds and shares and other items as well so that maximum diversification benefit could be reaped out.. There is a chance that your portfolio's sensitivity to market swings would be moreover dependent on the correlation between stocks of the portfolio . It is mostly observed that the bonds and the markets of shares moves opposite so it would be the perfect competition if both move opposite there would be great chance to reduce the risks involved. (Blackwell, 1983) The following investors would not like to diversify their portfolio: A non- risk averse investor would not like to diversify their portfolio because they are the investors who want an absolute return without having regard for risk. So they want a higher return for taking higher risk by investing in non-diversified portfolio. A speculator would not like to diversify their portfolio because they invest in stocks by predicting future price movement in order to earn huge profits. The speculators are engaged in the practice of entering into various financial transactions to be protected from fluctuations in the market value of a financial instrument. Speculators keep a track of the price movements and keep a proper measure of the basic value of the security. So speculators would not like to diversify their portfolio.(Fama, 2004) So lastly though the return on a portfolio that si diversified can never exceed the return of the top-performing investment but it would be greater than the worst performing investment. Thus it narrows the range of possible outcomes. 2 CAPM is a financial model which represents the direct relationship between required return on investment held and the systematic risk. CAPM is an important area of to manage finance and is often compared to the scientific discipline as per William Sharpe who wrote in his famous publication of Derivation and the use of finance in value management.(David W. Mullins, 1982) CAPM model has following assumptions: All the investors in the market are rational and they are price takers only. The investors are planning for the same time horizon The investors have equal access to the shares and securities in the market. Taxes are nil The commission are not there The investor cares about the return he expects and risk of the portfolio. Investors are homogenising in all forms. Borrowing and lending can be done at the same rate Short Selling of shares in fraction are also allowed(ACCA, 2014) The derived formula of CAPM model is as follow: E(Ri)= Rf+ i{E(Rm)-Rf} Where, E(Ri)= expected return on the asset Rf=risk free rate of return i= beta value for financial asset E(Rm)= average return on capital market The CAPM describes that in the case of equilibrium, only beta has a price but there is price for total risk. This risk requires to be compensated for firm specific risk. In a CAPM world, every investor holds portfolios that lie on the Capital Market Line. Since CML is applicable to an investors combined portfolio, it is diversified portfolio with minimum firm specific risks. Thus CAPM uses the diversification concept.(Brocado, 2015) Uses of CAPM in Finance: It helps them to calculate the hurdle rate for taking decision on the projects in question and accordingly calculating NPV of a project as shown below: Calculation of expected rate of return known as (the hurdle rate): Say Rf = 5%, E(Rm)=13%, beta from equivalent stand-alone traded firms: e.g., =1.4 So: E(Rproject) = 0.05 + 1.4 (0.13-0.05) = 16.2% Project Specification: Initial Investment=$5,000; Cash inflows expected= $5,000 in year 3, $5,000 in year 7 Net Present Value Calculation (NPV): Adjusting the time value of money analysis for the risk of the cash flows: Therefore NPV = -5,000 + 5,000/1.1623 + 5000/1.1627 = -$65.28. Thus the project is not viable.(Wohlner, 2013) Establishing fair compensation for a monopoly Say Rf =5%, E(Rm) =13%, = 0.7, So, E(Rproject) = 0.05 + 0.7 (0.13-0.05) = 10.6% Regulated Project Specification: Initial Investment= $200 million. Therefore, required annual profit: 200 x 0.106 = $21.2 million. Here 10.6% is the cost of equity capital and it affects the prices the monopoly will charge. (John Dowdee, 2015) 3 Application of CAPM model As per CAPM model, E(Ri)= Rf+i{E(Rm)-Rf} Assumptions: Rf=4%, i= 1.25, E(Rm)= 10% E(Ri)= 4% + (1.25(10%-4%)) =4% +7.5% =11.5% (CARRICK, 2014) 4 Calculation of required return from financial asset Rf i E(Rm) E(Ri)= Rf+i{E(Rm)-Rf} 3% 1.15 10% 8.05% 3% 1.25 10% 8.75% 3% 1.35 10% 9.45% 4% 1.15 10% 6.90% 4% 1.25 10% 7.50% 4% 1.35 10% 8.10% 5% 1.15 10% 5.75% 5% 1.25 10% 6.25% 5% 1.35 10% 6.75% 5 As per the Gordon Growth Model, the value of the stock is worth present value of the inflows and discount is as per the Gordon model. The model is given by the following formula: P= D1/(r-g) and D1= D0 x g, where, P= current price of the stock D1= expected dividend of next year r= constant cost of equity capital derived from CAPM model g growth rate in perpetuity expected for dividends and D0= Current year dividend amount. Given, D0= $2, g=5%, Rf= 6%, E(Rm)= 12%, i=1.5 Calculation of E(Ri) from CAPM model: E(Ri)= Rf+ i{E(Rm)-Rf} =6%+ 1.5(12%-6%) =15% Since in CAPM model E(Ri)= r, so r=15% Calculation of D1= D0x g = 2x1.05 =$2.1 Calculation of P P= D1/(r-g) =2.1/(1.15-1.05) =$21.0 6 Calculation of r given Rf= 6% and E(Rm)= 12% with following i i r= E(Ri)= Rf+i(E(Rm)-Rf) 0.5 9% 1.5 15% 2.5 21% Calculation of D1 given D0= $2.0 with following g g D1= D0xg 3% $2.06 5% $2.10 7% $2.14 Calculation of P given Sl.No. i g D1 r P=D1/(r-g) 1 0.5 3% $2.06 9% $34.33 2 0.5 5% $2.10 9% $52.50 3 0.5 7% $2.14 9% $107.00 4 1.5 3% $2.06 15% $17.17 5 1.5 5% $2.10 15% $21.00 6 1.5 7% $2.14 15% $26.75 7 2.5 3% $2.06 21% $11.44 8 2.5 5% $2.10 21% $13.13 9 2.5 7% $2.14 21% $15.29 The prices of the stock that are obtained above are sensible to the following: The beta () of the stock- Beta () is a measure of volatility and the responsiveness of a particular stock with respect to the market as a whole. The beta () of an investment is a measure of the risk from exposure to changes in the market. Beta is important because it measures the risk of an investment that cannot be removed by using diversification also known as systematic risk. It talks about the entire portfolio of stocks and not only on security basis, also the risks added to the diversified portfolio. As the beta of the stock rises the required return from the stock rises (derived from the CAPM model) which create a downward pressure on the stock price. Thus the beta of the stock is inversely proportional to the stock price. (For example: Compare Sl. No. 1, 4 and 7).(DeLegge, 2014) The growth rate of expected future dividend payments- Growth means the compounded value of the shares at dividend discounting price . As the growth rate of expected future dividend payments increases, the price of the stock rises since the future dividend cash flow increases. Thus the growth rate of expected future dividend payments is directly proportional to the stock price. (For example: Compare Sl. No. 1, 2 and 3).(Stutzer, 2010) Works Cited ACCA. (2014). CAPM: THEORY, ADVANTAGES, AND DISADVANTAGES. ACCA , 1-1. Blackwell, W. (1983). The Capital Asset Pricing Model: Theory and Empiricism. Royal Economic Society , 145-165. Brocado, C. (2015). Add Emerging Market Equities To Your Portfolio Now To Boost Its Diversification. Seeking Alpha , 1-1. Burton, J. (1998). Revisiting The Capital Asset Pricing Model. Stanford Times , 20-28. CARRICK, R. (2014). How to globally diversify your exposure to stocks. The Globe and Mail , 1-1. David W. Mullins, J. (1982). Does the Capital Asset Pricing Model Work? Harvard Business , 1-1. DeLegge, R. (2014). Portfolio Analysis: An Adventurous $496,000 Investment Plan. Us News , 1-1. Fama, E. F. (2004). The Capital Asset Pricing Model: Theory and Evidence. Journal of Economic Perspectives , 25-46. John Dowdee. (2015). A Diversified, High-Income Bond Portfolio For 2015. Seeking Alpha , 1-1. Stutzer, M. (2010). The Paradox of Diversification. The Journal Of Investing , 32-35. Wohlner, R. (2013). Here's Why Diversification Matters. The Smarter Investor , 1-1.

The truth of Juvenile delinquency Essay Example For Students

The truth of Juvenile delinquency Essay A movement has taken hold nationally to change the juvenile justice system, and erase any distinction between young offenders and adult criminals. Almost all fifty states have overhauled their juvenile justice laws, allowing more youths to be tried as adults and scrapping long-time protections to help rehabilitate delinquent kids and prevent future crimes. The current debate over juvenile crime is being dominated by two voices: elected officials proposing quick-fix solutions, and a media more intent on reporting violent crimes than successful prevention efforts. Politicians feel that best and easiest solution is to simply lock up youth offenders for long periods of time, and ignore rehabilitation. The most recent studies demonstrate that putting young offenders in adult prisons leads to more crime, higher prison costs, and increased violence. We will write a custom essay on The truth of Juvenile delinquency specifically for you for only $16.38 $13.9/page Order now Yet, we are spending more and more on corrections, and less on prevention efforts. Some states spend more on corrections than they do on higher education. The cost of keeping juveniles in prison as compared to putting them into rehabilitation programs is astronomically higher. The Average cost of incarcerating a juvenile for one year is between $35,000 to $64,000. However, the average cost of an intervention program is $4,300 per child a year. Also the effectiveness of prisons to prevent juveniles from becoming repeat offenders is low. Kids, who have already spent time in adult prisons, are far more likely to commit more serious crimes when they are released. Crime prevention programs work and are cost-effective. They have been shown to reduce crime substantially when compared to imprisonment after crimes have been committed. There have many crime prevention programs around the country that have been very successful in helping to reduce juvenile crime. Many states use early intervention programs that are designed to help parents of troubled kids in raising their children. These programs offer strategies and tactics for helping supervise and discipline troubled children. This is done because it is believed that one of causes of delinquency is that parents of kids with delinquent tendencies simply dont know what to do with them. This program as well as other similar ones, have been shown to have quite an influence on crime prevention. Media reports on juvenile crime are greatly exaggerated. While some headlines suggested that a ticking time bomb of so-called superpredator children is waiting to explode, the studies show that this is simply not true. Crime level indicators show that the male at risk population will rise over the next decade, but the levels are far from the explosive level that the media would like to suggest. In fact, the levels are lower than those reached in the late 1970s , when the at risk population last peaked. The public also holds greatly distorted views about the prevalence and severity of juvenile crime. Contrary to public perception, the percentage of violent crimes committed by juveniles is low, only 13% of violent crimes are committed by young people. Also, most juvenile arrests have nothing to do with violence. Most kids only go through the juvenile justice system once. Also, most youths will simply out grow delinquent behavior once they mature. The true juvenile predator is actually a rare breed. But the media thrives on sensationalism, so they make it appear that crime is everywhere in order to sell more news papers, or have people watch their broadcast. Juvenile crime does exist and youths do commit violent acts. However, it is not on the scale that many people would like the public to believe. The solution is to this problem is not a simple one and can not be solved by simply putting kids in adult prisons. More effective solutions should be explored and put to use. .u9cda5fc1b483894ea73d45b5083f2c46 , .u9cda5fc1b483894ea73d45b5083f2c46 .postImageUrl , .u9cda5fc1b483894ea73d45b5083f2c46 .centered-text-area { min-height: 80px; position: relative; } .u9cda5fc1b483894ea73d45b5083f2c46 , .u9cda5fc1b483894ea73d45b5083f2c46:hover , .u9cda5fc1b483894ea73d45b5083f2c46:visited , .u9cda5fc1b483894ea73d45b5083f2c46:active { border:0!important; } .u9cda5fc1b483894ea73d45b5083f2c46 .clearfix:after { content: ""; display: table; clear: both; } .u9cda5fc1b483894ea73d45b5083f2c46 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u9cda5fc1b483894ea73d45b5083f2c46:active , .u9cda5fc1b483894ea73d45b5083f2c46:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u9cda5fc1b483894ea73d45b5083f2c46 .centered-text-area { width: 100%; position: relative ; } .u9cda5fc1b483894ea73d45b5083f2c46 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u9cda5fc1b483894ea73d45b5083f2c46 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u9cda5fc1b483894ea73d45b5083f2c46 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u9cda5fc1b483894ea73d45b5083f2c46:hover .ctaButton { background-color: #34495E!important; } .u9cda5fc1b483894ea73d45b5083f2c46 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u9cda5fc1b483894ea73d45b5083f2c46 .u9cda5fc1b483894ea73d45b5083f2c46-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u9cda5fc1b483894ea73d45b5083f2c46:after { content: ""; display: block; clear: both; } READ: Paleolithic and Neolithic cultures EssayA movement has taken hold nationally to change the juvenile justice system, and erase any distinction between young offenders and adult criminals. Almost all fifty states have overhauled their juvenile justice laws, allowing more youths to be tried as adults and scrapping long-time protections to help rehabilitate delinquent kids and prevent future crimes. The current debate over juvenile crime is being dominated by two voices: elected officials proposing quick-fix solutions, and a media more intent on reporting violent crimes than successful prevention efforts. Politicians feel that .