Corporate Failure Rates and the Impact of the 1986 Insolvency Act Essay

Corporate Failure Rates and the Impact of the 1986 Insolvency Act - Essay Example Interest rates are important because they reflect the monetary policy manifestation. Increase in inflation rates also result in increase in failure rates. Lastly, the age of a business is important because the lesser the age of a business, the more chances are that it would not survive. It was assumed that the failure rates would have a positive relationship with interest rates, cost of use of capital, price levels and company formation and on the other hand, it would have a negative relationship with profits and credit availability. An error correction model was constructed which connected these variables with failure rates. Also, ADF test and PP test were carried out to find out the long term effects of the variables mentioned above. Regression analysis was also done on an equation formed by Johanson method (1982). The results from the Chow test show that the imposition of the Insolvency act of 1986 has had some effects on the failure rates. Also, the coefficient of the dummy variable was also negative and statistically important which makes it possible for us to conclude that the failure rates decreased since the introduction of the Insolvency act. Corporate Failure Rates and the Impact of the 1986 Insolvency Act is a very extensively researched case study. ... CritiqueCorporate Failure Rates and the Impact of the 1986 Insolvency Act is a very extensively researched case study. This study aims to find evidence of the effectiveness of the Insolvency Act of 1986 by studying time series data of failure rates after and before the act was introduced. It has studied previous studies, collected present data and carried out statistical analysis on that data and compared the results.The abstract in the beginning is concise and clear as it gives a brief account of what is in the paper. All the important points regarding the previous studies, procedure, results and conclusion are given. Next comes introduction and the introduction also sets a base that makes us ready for what is coming next. It briefly describes the Insolvency Act and its effects on businesses. This not only makes it very easy to grasp the main idea but it also makes it understandable to anyone who is studying the area under discussion for the first time. Technical terms such as 'wron gful trading' and many others that were used throughout the case study were straightforwardly defined right after they were used, which made the matter very comprehensible and easy to understand.The literature that is included in the case study is just enough to give good empirical evidence regarding the subject matter. Every fact that is given is either supported with a previous data, literature of present findings. This case study aims to see the effects of this act 11 years after its implementation therefore it will help us know its long term effects. The limitations of previous studies are also given when it was mentioned that 2 or 3 years is not a long enough time to adequately study the long term

Global News Agenda Essay Example | Topics and Well Written Essays - 2000 words

Global News Agenda - Essay Example News usually construct ‘them’ to show a fairer representation of those who are far in terms of culture or space and they include the neighbors abroad and the strangers living amongst them (Ginneken 1998). The news reports usually produce meanings which construct ideological representations of the different groups of people from different countries. Media usually report distant suffering in their news which brings about the construction of ‘us’ versus ‘them’. The language used in the news reports brings different meanings within the social context as to some the ‘us’ versus ‘them’ brings about negative values (Kamalipour and Snow 2004). Unprecedented censorship is also evident with how news is constructed. In most cases, the ‘us’ versus ‘them’ is created whenever there is suffering in the country or culture to be aired. The media creates ‘us’ versus ‘them’ in order to c reate specific subject position for both the spectators and suffers. The spectators ‘us’ may take the position of activists, philanthropists or even voyeurs while suffers ‘them’ take the position of a human being or abstract number. Theoretical perspectives will be used in the analysis and evaluation of how the news constructs a sense of ‘us’ versus ‘them’ between different nations. Agenda setting theory Agenda setting theory shows how the media highly affects the order of presentation in the news reports about events and issues in the minds of the public (Dearing and Roger 1996). Global news agenda is based on the construction of ‘us’ versus ‘them’. This theory also shows how the media had a high influence on the public by their ability to tell us on the important issues. The main aim of this theory is to create a public awareness and to show the salient issues created by the news media. Different aspects of the media are encompassed in this theory which shows different ways on how news is constructed. 1. Freedom of press and expression world wide Freedom of press helps the media in constructing ‘us’ versus ‘them’. Freedom of speech in Middle East is enshrined in article 19 of the International Covenant on Civil and political Rights (ICCPR). It is also based on the UN treaty which is based on the Universal Declaration of Human Rights (Magee 2002). Social solidarity is part of cosmopolitanism and it includes the bonds of mutual commitments based on more than similarities of pre-established identities. Social solidarity puts it clearly that all citizens are engaged in the making of a better future for everyone. Cosmopolitan explains how global media institutions have the power to create publics around the world as non-communitarian publics. Cosmopolitan is the willingness to relate with other people. The way media constructs news about distant suffering rarel y does it cultivate a cosmopolitan sensibility or a global public (Ginneken 1998). For example, airing news on how people are being maimed killed or burned or even tortured is the creation of cosmopolitan through the TV news where it creates a spectatorship of suffering to ‘us’ the viewers. Global news does not also overcome the