ShantanuT01/DACTYL-Pretraining huggingface dataset:
Tobin’s Q General Considerations Tobin’s q is a company performance parameter used to assess future investment opportunities. The ratio is defined by dividing the market value of a company by its assets replacement cost (Tobin, 1969). Therefore, when the market value equals the replacement cost, it is believed that the company is correctly valued. The ratio is used to predict the future performance of a firm on the stock market. If the q value is low, that is, between zero and one, the company is considered undervalued, which arouses interest in potential purchasers. Consequently, if the ratio returns a value above one, the firm is overvalued and may be regarded as a sale (Tobin, 1969). In short, Tobin’s Q is used as a dependent variable as it is a comprehensible parameter that has elegant logic behind it. Possible Flaws Tobin’s q has some evident drawbacks that are discussed in the current literature. The ratio is based on the asset replacement cost, which may be troublesome to measure, especially when discussing intellectual property (Dybvig & Warachka, 2015). Therefore, inadequate expertise may lead to incorrect conclusions about a company’s performance. Additionally, Dybvig and Warachka (2015) claim that there are inconsistencies in the logic of the ratio since underinvestment increases rather than decreases Tobin’s q. In short, the parameter should be used with caution due to its possible flaws. Previous Studies Historically Tobin’s q is used to measure the market-based performance of companies. Singh, Tabassum, Darwish, and Batsakis (2018) use the parameter as a primary variable to measure the importance of corporate governance efficiency. Fu, Singhal, and Parkash (2016) utilize the q value to evaluate operating and market performance and find positive correlations between those notions. Wang (2015) discusses the value relevance on Tobin’s Q and examines the moderating effect of corporate governance on Tobin’s Q. In short, the abundance of empirical knowledge and strong theoretical background allows the use of Tobin’s Q as a market-based performance indicator. Stock Price General Considerations A company’s stock price is also a valuable market-based performance signal. The high stock price is crucial for companies for a variety of reasons, including positive press, decreased takeover risk, and the additional possibility of financing (Murphy, 2019). Therefore, it can be stated that higher stock prices are associated with healthier and more profitable companies. Additionally, Murphy (2019) points out that stock price can be used as a performance indicator for executive management. Indeed, there is often a direct link between the efficiency of managers and a company’s prosperity. Even though there may be exclusions from the general rule, the financial value of market shares may be used to evaluate the company’s overall performance. Previous Studies The stock price is widely used as companies’ health indicator in the scientific literature. Andreou, Antoniou, Horton, and Louca (2016) perform a correlational analysis between the decisions made by the top managers and c
Sculpture is one of the most expressive forms of art. Since ancient times, people worked with different materials to create statues. Each historical period is characterized by particular philosophy, themes and ideas. These themes and ideas are expressed through forms and materials. Some early periods influence techniques and concepts adopted by later periods. In addition, art of a particular period may influence the art of a particular author, as it can be observed in two western sculptures from the Metropolitan Museum, Statue of a Wounded Warrior that embodies the “classical” style of the Parthenon, and Perseus with the Head of Medusa by Antonio Canova that was created in the early 19th century. As well as ancient sculptor, Canova used the same techniques and material for his statue. Thought, the styles of the statues are much alike, there are some differences that are worth special attention. In this paper, we are going to compare and contrast the styles, techniques and themes of the two sculptures from different periods. The Statue of a Wounded Warrior is a Roman copy of the statue of the Greek origin that dates back to the 138–181 A.D. of Mid-Imperial, Antonine period. This is the statue of a young warrior which is a bit bigger of a true life-size. He stands as if he is going to throw a spear. Judging from the fact that it is a warrior and the posture of a man, we can conclude that he used to hold a sword or a spear in his right hand and a shield in this left hand. It is quite possible that he is going to attack the enemy and protect the last minutes of his own life. The statue is not identified until nowadays. There are suggestions that it depicts Protesilaos, a Greek hero, or just a warrior that is falling because he was wounded in his right armpit. The statue is very realistic and made in classical Pantheon style. The second sculpture also exemplifies the features of the Pantheon style, however, it refers more to the Renaissance period and, indeed, it is less destructed because it was created much later in the 19 th century. It depicts a character from the ancient Greek mythology, Perseus, who killed Medusa. The statue has almost the same size as a previous one, but it is put on the pedestal. It is done with a certain purpose; in particular, people were forced to look at the statue upward to feel the greatness of the hero. Both statues are made from marble. This material is a great to convey the details. It makes both statues look very realistic and shows all lines of the body and face expressions. It produces the effects that the sculptures can return to life. However, the Statue of a Wounded Warrior is yellow and rough when touching it. This makes the statue look realistic and believe that it depicts a real person. As the body has some lacks, the material also has them and, as such, expresses them. As opposed to the Warrior, the statue of Perseus is very white and smooth. All lines are perfect. Thus, it contributes to the “glorious” view of the statue. This technique shows that the main he
The Corporate Ethical Issue of Providing Questionable Products to Other Markets The paper presents a real-life case that was witnessed in CornCo plant Company in Arizona. The corporate ethical issue in this case is the provision of contaminated products to other markets as a way of circumventing the strict administration laws concerning foods and drugs. George who the operations manager of CornCo plant has been informed about the aflatoxin- contaminated of the corn that has been brought for processing (Ferrell, Fraedrich and Ferrell 289). Aflatoxin is a poisonous substance that develops when corn is not dried well. Therefore, when found in food substances, it qualifies the food as unfit for human consumption (Holland and Albrecht 779). It is therefore unethical for the company to export the products knowingly to other markets that may not have stringent inspection systems for the sole purpose of making profits and/or remaining competitive in the market. By doing this, the company will be deliberately putting the health and lives of consumers at risk. Discussion of the submissions in the suggestion box Different people have given George several suggestions, which border more on personal interests. The first suggestion must have come from his col
In his Imagined Societies, Benedict Anderson proposes that nations are imagined political communities, which are limited in scope and are self-governing. He argues that a nation is an imagined community because members of nation who may not know each other but still have same national identity (Anderson 1991, p.7). Anderson insists that the “end of the era of nationalism” is prevalent with the current globalization. He emphasizes imagination plays an important part in creating a national identity. He rejects the Marxist theories on nationalism based on the war between Cambodia, China, and Vietnam; countries that uphold the Marxist ideologies. He further argues that revolutions have negative implications on nations and nationalism. He supports this argument by giving a historical account of the Soviet Union’s disintegration into smaller nations, which has rendered nation-states irrelevant (Anderson 1991, p.5). By this, he suggests that Marxism only works when there is recognition of nationalism. Anderson argues that nationalism comes into being based on economical equity of the people and once established, it is difficult to take it away. Anderson further argues that nationalism is the basic component of modernity and that loyalty to race or specific class is only secondary to nationalism. Anderson portrays nationalism as still relevant even in the face of globalization and requires self-sacrifice especially in cases where inequality and exploitation are prevalent. Although Anderson is correct in his proposition that nations are imagined and that nationalism requires sacrifice, he fails to give clear definition of a ‘community’ and how it is different from nationalism; therefore, I do not agree with this argument. The communities that make up a nation are imaginary just like nationalism. He further claims to justify Marxism and liberalism as ‘universalistic ideologies, ill-at-ease with nationalism’ thus suggesting that the ideologies support nationalism but states that both these ideologies do not involve cultural aspects of nationalism. According to Anderson “nationality… nation-ness, as well as nationalism, are cultura l artifacts of a particular kind” (1991, p.6). This argument is correct because communities always identify themselves with culture and thus the nationalism must appreciate culture. Anderson’s claim that a nation is imagined, does not mean that a nation is unreal or that nations exist somewhere in dreamland. He instead proposes that nationalism is a process brought about by common culture and interests among people that in the end pulls them together as they strive for a common goal. This means that political and cultural factors contribute to nationalism as people ‘imagine’ that their cultural beliefs and attitudes are common. Therefore, the people remain aware that their personal opini
It might be suggested that GoBus tends to expand its coach routes in order to cover more available Irish territory. In the case of thoughtful planning, such an approach may result in many benefits and substantial profit margins. The primary evidence that might lead to the mentioned assumptions is the company’s announcement and even the separate section on the GoBus site – Ballina to Galway city route. Keeping in mind that the course links essential points of tourists’ and the Irish’s transportation, the chosen plan of the firm may be considered rational and increasing the company’s competitiveness. However, GoBus has not revealed any information on its further expansion. Nevertheless, it might be assumed that the company has no hesitations regarding its future course and will seize the chance of enhancing business positions and foster the process of capacity building. GoBus might fully realize the favorable environment for the gradual progress that results from the adequate government economic policy and exhaustive legislation, which serves an excellent framework for large-scale affairs. Given the fact that GoBus had not claimed any significant statements regarding its policy during the presence in the market, the Ballina to Galway city route might be the primary argument on the changing strategy. It might seem that the firm decided to expand its spectrum of services and pursue the goal of business growth and development. This shift may be an efficient one if GoBus has created and is implementing a coherent and long-term plan. Otherwise, the expansion policy may cause a reduced number of satisfied customers and quality of services, which is the beginning of a company’s downfall and dissolution. Sooner o
Introduction Ethics is a branch of philosophy that deals with systematizing, defending, and recommending right or wrong behavior. Ethics can be divided into three branches, which include meta-ethics, which mainly deals with the theoretical meaning and moral propositions and how their truth values may be determined. Normative ethics deals with the practical means of determining a moral action whereas applied ethics entail how moral outcomes can be achieved in given situations. Socrates encouraged people to turn to the condition of humankind. This involves acquiring knowledge which he believed got placed first in human life (Aristotle, 2009). Aristotle argued that when an individual behaves as expected of his nature and discovers his or her potential, he or she can do well and act responsibly. He asserted that man comprises three natures, which include, vegetable, animal, and rational (Cooper, Gordon and Katz, 2006). The vegetable component of man comprises the physical nature and metabolism which can be achieved through care and exercises. Virtue Ethics Virtue ethics, which can sometimes be referred to as get-based or character ethics, focus on the idea that human beings should aspire to do their best in everything. However, these virtues comprise both moral and immoral acts and behaviors. According to Aristotle,” excellence is not overachieving; rather it is a considered balance among possible alternatives.” Therefore, this means that one should take time to consider the effectiveness of a decision before settling on it. As a result, therefore, one can be termed a good person if he or she possesses a number of excellent traits. Deontology Ethics On the other hand, deontology determines whether something or a person is good by examining his or her acts or the intentions of the individual in performing the act. This is in accordance with specified rules and duties (Hugh, 1992). According to this theory, an action can be termed as right even though its outcome is not appealing. This theory is similar to the virtue theory in the sense that both insist on careful consideration and assessment of a decision before embarking on it Nicholas and Paul, 2000). However, there exists a difference between them in that deontology focuses on the motives or intention of the doer of the action which is not the case for virtue theory. The deontological theory also focuses and bases its arguments on duties which do not apply to the virtue theory. Utilitarianism Theory Utilitarianism theory mainly reflects on happiness. It asserts that the moral value of an action can be determined by its outcome and can only be identified after identifying its consequences. Utilitarianism is similar to the deontological theory in that it considers the consequences of an action as the determining factor of its moral value. It can also be contrasted with virtue ethics, which mainly focuses on character. According to this theory, when one gets faced with a situation that requires d
Introduction Despite the presence of a significant international civilization, gender bias continues to be a disturbing issue within the societies. Women are frequently facing gender discrimination 1 within the societies and even in their workplaces. Social stratification 2 seems to shift from the cultural ideologies imposed within the societies to the workplace environments (Lee, 2005). Even though modernization seeks to ensure equitable access to work opportunities 3 and an impartial treatment between genders, socioeconomic statuses differ and wealth 4 distribution seems uneven between genders (Lee, 2005). Such disparities are creating serious public concerns. Fundamentally, this essay discusses workplace gender discrimination as a critical social injustice problem. Discrimination in compensation Underpayment or low payment makes life miserable because the meager income 5 can barely make individuals to have the economic power 6 or wealth to afford the recurrent life necessities. According to Lee (2005), a great number of the working class 7 women rank within the lower class 8 population and only a few manage to scale rank among the middle class 9 or the upper middle 10 population. Modern companies have concentrated on improving the performance of the organizations and such intentions force them to recruit instrumental leadership 11 that is capable of motivating an energetic workforce 12 . Lee (2005) asserts that women can barely match the workplace requirements that men can fulfill and such situations make some leaders to underpay the female workforce. While most organizations claim to practice a democratic leadership 13 that people perceive to be fair in ensuring equitable treatment among the workers, contemporary management systems often make unfair salary decisions (Lee, 2005). Managing a resilient and a low-demanding workforce that comprise of men is easier than managing a female workforce that has several familial issues and complications (Lee 2005). Irrespective of the fact that absolute poverty 14 and relative poverty 15 are universal social problems that affect both genders, corporate organizations tend to favor the male workforce in terms of compensation. Such disparities make women susceptible to workplace abuse, manipulation, exploitation, and social inequalities. Discrimination in the Workplace Opportunities Women remain discriminated against in terms of access to workplace opportunities. Modern companies have the philosophy of recruiting and promoting individuals through meritocracy 16 . Merit-based employment, retention, recognition, and promotion make men luckier than women with the opportunities offered within companies (Lee, 2005). Such situations make companies to classify its workforce based on the class systems 17 that involve a co
Homer provides a comprehensive picture of the society of the ancient Greece in his Famous work The Odyssey . Penelope can be regarded as embodiment of rightfulness. It is also necessary to note that Penelope should be regarded as a determining moral agent as it is her own way to live and she has her own sense of what is wrong and what is right (remarkably, her decisions are rightful in terms of morality). Notably, her rightfulness is manifested in different terrains. For instance, she follows rules accepted in the society. She knows that it is not right to be alone with many men and she is determined to maintain her reputation. She says, “I am not going among the men alone; it would not be proper for me to do so” (Homer XVIII: 4). Of course, following rules of the society is not the greatest virtue of Penelope who is rightful in all respects. Thus, Penelope loves her husband and she cannot betray him. She knows that getting married is a betrayal even though she is starting to believe that her husband is dead. She is “all the time broken-hearted about” her beloved husband (Homer XIX: 3). She knows no joy and when the night comes her “heart becomes a prey to the most incessant and cruel tortures” (Homer XIX: 8). She understands that she cannot do the wrong thing and marry another man. She manages to work out the way to postpone the new marriage. She says to a stranger she trusts, “I used to keep working at my gr
Governments around the world are focused on creating stable and beneficial environments for businesses to grow, raise revenue, and thrive. Financial success can be accomplished through annual tax cuts for employees, deregulation to ease business operations, and infrastructure development to facilitate the expansion of commerce. Economic growth not only indicates a country’s stability and prosperity but points to the quality of life within its borders. The introduction of tax cuts and rebates encourages economic growth. Ensuring that consumers have an increase in disposable income means they can spend extra money on businesses, which will raise revenue. Companies will, therefore, be in a position to access capital, improve their infrastructure, and grow, which boosts productivity and economic growth. A better economic structure can also be created through deregulation. It is vital to note that strict regulatory requirements stop businesses from operating at maximum capacity, which slows productivity and job availability. The country’s gross domestic product is, therefore, significantly affected. Besides, the government should support businesses by helping them compete locally through the provision of incentives. Moreover, deregulation measures should be applied to critical industries that contribute the most to the country’s economic growth. A conducive environment for commerce aids business growth. Facilitating infrastructure development is an effective method of stimulating economic growth. Prioritizing the creation of physical facilities required for commerce is critical because they allow businesses to operate efficiently. Besides, infrastructure development projects generate employment prospects for the population and spur economic growth by creating opportunities for new ventures. In addition, they amplify productivity, which is beneficial because it facilitates an increase in consumption (Krugman, 1993). As a result, the country’s consumers will spend more money, which will, in turn, boost business revenues and facilitate economic growth. Facilitating infrastructure improvement and the elimination of restrictive regulations encourage businesses to expand and hire more people. They will be in a position to raise capital and operate at maximum capacity because of the incentives provided by the government. Besides, tax cuts and rebates add to the population’s disposable income, which enables businesses to raise capital and grow the country’s productivity and competitiveness in the global market. Reference Krugman, P. R
The book The Millionaire Next Door was written by marketing professors William Danko and Thomas Stanley in 1996. The book shows the difference between the concept of a millionaire in pop culture and the real facts about real millionaire. The book also provides some sort of tips about how to develop and maintain a wealth-building lifestyle. It is a compilation of research on a topic of wealth. Thomas J. Stanley and William D. Danko compare the behavior of UAWs (Under Accumulators of Wealth) and those who are PAWs (Prodigious Accumulator of Wealth). They share the ‘secrets’, how to become a millionaire. Thomas J. Stanley and William D. Danko portray wealthy people as frugal ones. According to authors, millionaires live below their means and make more than they spend (Stanley and Danko 3). They efficiently use their time, energy and money and do not spend a lot them to maintain their lifestyle. According to authors, those who live in a rich neighborhood and have an expensive car are not necessarily millionaires or even rich people. Just the opposite, they most likely have many debts. The real millionaires do not buy status things, but they make a status fortune. They take financial risks because they are not misers and they know that it worth it. They usually make investments for good returns. They invest in both stock exchange and venture companies, but only if it worth the reward. The Millionaire Next Door ‘s authors claim that to live well below your means is the right thing to do. They claim that in order to become a millionaire one have to refuse from all finer things and just keep saving your money. However, that is wrong because if someone is not able to spend his money on himself or on his family, then what is he saving them for? Here is an example from the book, an indignant grandmother says, “What am I supposed to do with my money? My daughter’s family is having a rough time making ends meet. Do you know about the problems with public school around here? I’m sending my grandchildren to private schools” (Stanley and Danko 145). Authors provide such example as a good thing to spend your money for, but it seems that they have different values. They constantly mention private schools “in the same category as big houses, country club memberships, and, of course, luxury automobiles” (Curmudgeon n.p.). Then, authors introduce their analysis. They say that grandmother is not at ease because of providing the economic support to daughter’s family. Authors claim that the real problem in this situation is not with the schools, but it