Challenges in the Era of Globalization - iaabd

Recommendations

Info

Proceedings of the 12th Annual Conference © 2011 IAABD Ex post liability allocation To fix ideas, assume that if there is a reversal, the third party always sues the investor under the doctrine of vicarious liability. We also take it that the host has no personal assets and therefore cannot satisfy any court judgment. However, the investor has sufficient wealth to pay for this liability. The investor becomes liable for the harm only when the host is declared negligent. Let e s be the legal standard of care. Thus, the investor is held liable if e
Challenges in the Era of Globalization Edited by Emmanuel Obuah Proposition 1. Suppose that the financial responsibility rule holds the investor strictly liable for reversal risk, the sorting condition holds and β(ω) is nonincreasing. Then the condition for optimal care e (ω) ( is given by ( ( F( ω) f ( ω) { G( e( ω)) + g( e( ω)) z} p − ωψ '( e( ω)) −ψ '( e( ω)) = 0. In the absence of adverse selection, the first-best optimality would have given the marginal condition { ( e( ω)) + g( e( ω)) z} p − ωψ ' ( e( ω)) = 0. ( G (9) Comparing (8) with (9) and (1), we see that there are two sources of distortion under the private secondbest optimum. The first one is represented by the term ψ′(e(ω))F(ω)/f(ω). This term shows that the second-best effort function is obtained by replacing the individual's type with a distorted, or virtual type ω+F(ω)/f(ω), which is typically higher than ω. Thus, the term ψ′(e(ω))F(ω)/f(ω) in (8) derives from the host's private information. The second source of distortion {G(e)+g(e)z} stems from the effects of uncertainty in the judicial process. An increase in e decreases the loss from reversal if it ever materializes at all. The marginal reduction in loss from reversal is unity; its magnitude is weighted by the chance G(e) that the investor will be found liable and therefore will benefit from reducing the reversal loss. Thus, the product G(e)p represents the saving to the investor from the application of greater effort because expected reversal costs are reduced. The second term g(e)z represents a reinforcing effect. An increase in e reduces the probability of being held liable at all, and this creates an incentive to induce more effort. The marginal change in the likelihood of being held liable is g(e); its is multiplied by z the magnitude of the loss. Thus, g(e)z represents a saving to the investor from the application of greater effort because, even if a reversal occurs, it is now less likely that he will be found liable. In general, the information asymmetry exacerbates the agency problem. As for the judicial process, whether or not it worsens the agency problem will crucially depend on the magnitude of G(e)+g(e)z. If [G(e)+g(e)z]1, the opposite will hold true. Reversal Insurance Suppose now that the investor must provide assurance that he will able to indemnify z in future liability costs. For simplicity, assume that the investor meets this requirement by purchasing an insurance policy that provides coverage in the amount z from a perfectly competitive insurance market. Since a reversal occurs with probability p causing damage z and the amount of care is observable, the insurance company will charge an actuarially fair premium of p.z. Thus, the investor's objective is I π = R − κ ( ω) + [ 1 − p] z. β ( ω) − pz. (10) Since the host faces no sanctions from the reversal risk, its expected payoff is unchanged from the previous section. The screening problem in this setting is as follows: max ( ω) E I e ∫ Θ [ R − ωψ ( e( ω)) −U ( ω) − pz] [ π ] = dF( ω) subject to (6) and (7). The solution to problem (11) is described in the following proposition. ( (8) (11) 103
Page 1 and 2:
Challenges in the Era of Globalizat
Page 3 and 4:
Table of Contents Challenges in the
Page 5 and 6:
Lennart Bangens, Goteborg, Sweden C
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Local Steering Committee Jacob Musi
Page 17 and 18:
Track 1: Accounting, Finance, and I
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Abstract Challenges in the Era of G
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Abstract Determinants of Bank Lendi
Page 45 and 46:
Page 47 and 48:
Empirical Results Challenges in the
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Table 3 Determinants of Competitive
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68: Challenges in the Era of Globalizat
Page 79 and 80: Research Findings Challenges in the
Page 87 and 88: Abstract: Study on Africa Governmen
Page 99 and 100: Abstract Challenges of Oil Revenue
Page 109 and 110: Abstract Land Based Sources of Poll
Page 115 and 116: Abstract On the Mitigation of Rever
Page 117: ⎧κ ( ω) − ( 1− p) β ( ω)
Page 123 and 124: Assessment of pollutants in nigeria
Page 125 and 126: Figure 1: Lagos off shore survey po
Page 153 and 154: Academic Pry School 3 3 0 Backgroun
Page 163 and 164: Track 5: Management Education Chall
Page 165 and 166: Abstract Challenges in the Era of G
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Table: Model Fitness Regression Sta
Page 179 and 180:
Page 181 and 182:
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193 and 194:
Page 195 and 196:
Page 197 and 198:
Page 199 and 200:
Page 201 and 202:
Page 203 and 204:
Page 205 and 206:
Page 207 and 208:
Page 209 and 210:
Page 211 and 212:
Page 213 and 214:
Page 215 and 216:
Page 217 and 218:
Page 219 and 220:
Page 221 and 222:
Page 223 and 224:
Page 225 and 226:
Page 227 and 228:
Conclusion Challenges in the Era of
Page 229 and 230:
Page 231 and 232:
Page 233 and 234:
Page 235 and 236:
37. Provision of sound education fo
Page 237 and 238:
Page 239 and 240:
Page 241 and 242:
The cost structure Challenges in th
Page 243 and 244:
Page 245 and 246:
Page 247 and 248:
Page 249 and 250:
Empirical Analysis Challenges in th
Page 251 and 252:
Page 253 and 254:
Page 255 and 256:
Page 257 and 258:
Page 259 and 260:
Page 261 and 262:
Page 263 and 264:
Page 265 and 266:
Page 267 and 268:
Page 269 and 270:
Page 271 and 272:
Page 273 and 274:
Page 275 and 276:
Variable Coefficient Std. Error t-S
Page 277 and 278:
Page 279 and 280:
Page 281 and 282:
Page 283 and 284:
Page 285 and 286:
Page 287 and 288:
Page 289 and 290:
Page 291 and 292:
Abstract The Changing Requirements
Page 293 and 294:
Page 295 and 296:
The Model, Data and Variable Defini
Page 297 and 298:
Page 299 and 300:
Page 301 and 302:
Page 303 and 304:
Page 305 and 306:
Page 307 and 308:
Page 309 and 310:
Page 311 and 312:
Page 313 and 314:
Page 315 and 316:
Track 8: Gender and Economic Develo
Page 317 and 318:
Page 319 and 320:
Empirical results Challenges in the
Page 321 and 322:
Page 323 and 324:
Abstract Gender, poverty and sustai
Page 325 and 326:
Page 327 and 328:
Page 329 and 330:
Page 331 and 332:
Page 333 and 334:
Page 335 and 336:
Figure 1.1: Spread of directorships
Page 337 and 338:
Page 339 and 340:
Page 341 and 342:
Page 343 and 344:
Theoretical Framework Challenges in
Page 345 and 346:
Single 18.1 Masters and above 35.3
Page 347 and 348:
Source: Field survey, 2010 Table 3:
Page 349 and 350:
Page 351 and 352:
Track 9: Global Studies and Politic
Page 353 and 354:
Conceptual Definitions Challenges i
Page 355 and 356:
Page 357 and 358:
Page 359 and 360:
Page 361 and 362:
Page 363 and 364:
Page 365 and 366:
Page 367 and 368:
Page 369 and 370:
Page 371 and 372:
Page 373 and 374:
Page 375 and 376:
Page 377 and 378:
Page 379 and 380:
Page 381 and 382:
Page 383 and 384:
Page 385 and 386:
Page 387 and 388:
Page 389 and 390:
Page 391 and 392:
Page 393 and 394:
Page 395 and 396:
Page 397 and 398:
70000 60000 50000 40000 30000 20000
Page 399 and 400:
Page 401 and 402:
Page 403 and 404:
Page 405 and 406:
Page 407 and 408:
Page 409 and 410:
Page 411 and 412:
Page 413 and 414:
Page 415 and 416:
Page 417 and 418:
Page 419 and 420:
Page 421 and 422:
Page 423 and 424:
Conclusions and Implications Challe
Page 425 and 426:
Abstract Exploring Organisational R
Page 427 and 428:
Page 429 and 430:
Page 431 and 432:
Page 433 and 434:
Page 435 and 436:
Page 437 and 438:
district hospitals: Evidence from N
Page 439 and 440:
Page 441 and 442:
Page 443 and 444:
Page 445 and 446:
Page 447 and 448:
Page 449 and 450:
Page 451 and 452:
Page 453 and 454:
Page 455 and 456:
Page 457 and 458:
Defining the Organisational Culture
Page 459 and 460:
Page 461 and 462:
Page 463 and 464:
Page 465 and 466:
Page 467 and 468:
Table 1: A Summary of Operating Ban
Page 469 and 470:
Page 471 and 472:
Page 473 and 474:
Page 475 and 476:
Page 477 and 478:
Page 479 and 480:
Page 481 and 482:
Page 483 and 484:
Page 485 and 486:
Page 487 and 488:
Page 489 and 490:
Discussion and Conclusion Challenge
Page 491 and 492:
Page 493 and 494:
Abstract What does Globalization me
Page 495 and 496:
Page 497 and 498:
7. I see globalization as providing
Page 499 and 500:
Page 501 and 502:
Page 503 and 504:
Page 505 and 506:
Page 507 and 508:
Page 509 and 510:
Track 12: Information Systems and E
Page 511 and 512:
Page 513 and 514:
Page 515 and 516:
Page 517 and 518:
Page 519 and 520:
Page 521 and 522:
Research Methods approach Challenge
Page 523 and 524:
Page 525 and 526:
Page 527 and 528:
Page 529 and 530:
Page 531 and 532:
Page 533 and 534:
Page 535 and 536:
Statement of the Problem Challenges
Page 537 and 538:
Page 539 and 540:
Page 541 and 542:
Page 543 and 544:
Page 545 and 546:
Page 547 and 548:
Page 549 and 550:
Page 551 and 552:
Page 553 and 554:
Page 555 and 556:
Page 557 and 558:
Page 559 and 560:
Page 561 and 562:
Page 563 and 564:
Page 565 and 566:
Page 567 and 568:
Page 569 and 570:
Page 571 and 572:
Page 573 and 574:
Convenient location of banks Challe
Page 575 and 576:
Page 577 and 578:
Page 579 and 580:
Page 581 and 582:
Page 583 and 584:
Page 585 and 586:
Page 587 and 588:
Page 589 and 590:
Page 591 and 592:
Page 593 and 594:
Page 595 and 596:
Page 597 and 598:
Page 599 and 600:
Page 601 and 602:
Page 603 and 604:
Page 605 and 606:
Page 607 and 608:
Page 609 and 610:
Page 611 and 612:
Page 613 and 614:
Figure 1.Framework for Bank selecti
Page 615 and 616:
Page 617 and 618:
Banks in Ghana Challenges in the Er
Page 619 and 620:
Page 621 and 622:
Page 623 and 624:
Page 625 and 626:
Page 627 and 628:
References: Challenges in the Era o
Page 629 and 630:
Page 631 and 632:
Page 633 and 634:
Figure 5: Causal loop diagram inclu
Page 635 and 636:
Page 637 and 638:
The study seeks to: • examine typ
Page 639 and 640:
Page 641 and 642:
Figure 2: Customer Perception of MT
Page 643 and 644:
Page 645 and 646:
Page 647 and 648:
Page 649 and 650:
Page 651 and 652:
Relationship Commitment Total 1264.
Page 653 and 654:
Page 655 and 656:
Page 657 and 658:
Page 659 and 660:
Page 661 and 662:
Page 663 and 664:
Page 665 and 666:
Page 667 and 668:
Factor Item Loading Imaginative 0.4
Page 669 and 670:
Page 671 and 672:
Page 673 and 674:
Page 675 and 676:
Figure 1: Components of Data Analys
Page 677 and 678:
Page 679 and 680:
Abstract Marketing Nigerian medicin
Page 681 and 682:
Page 683 and 684:
Page 685 and 686:
References Challenges in the Era of
Page 687 and 688:
Page 689 and 690:
Page 691 and 692:
Page 693 and 694:
Page 695 and 696:
Page 697 and 698:
Page 699 and 700:
Page 701 and 702:
Page 703 and 704:
Page 705 and 706:
Page 707 and 708:
Page 709 and 710:
firms attained below average market
Page 711 and 712:
Page 713 and 714:
Page 715 and 716:
Page 717 and 718:
Page 719 and 720:
Conclusion Dissatisfied 6 3.4 3.6 7
Page 721 and 722:
Abstract Customer satisfaction with
Page 723 and 724:
Methodology Challenges in the Era o
Page 725 and 726:
Discussion Challenges in the Era of
Page 727 and 728:
Page 729 and 730:
Postgraduate 19 Internet experience
Page 731 and 732:
Average daily Internet hours z P-va
Page 733 and 734:
Page 735 and 736:
Track 17: Project Management in Afr
Page 737 and 738:
Page 739 and 740:
Conclusion Challenges in the Era of
Page 741 and 742:
Page 743 and 744:
Page 745 and 746:
Page 747 and 748:
Page 749 and 750:
Page 751 and 752:
Page 753 and 754:
Page 755 and 756:
Page 757 and 758:
Page 759 and 760:
Page 761 and 762:
Page 763 and 764:
Page 765 and 766:
GOVERNMENT MoFED SECTORS Structure
Page 767 and 768:
Page 769 and 770:
Page 771 and 772:
�− growth and represented by
Page 773 and 774:
Results Challenges in the Era of Gl
Page 775 and 776:
Page 777 and 778:
Input: Process, regulation Referenc
Page 779 and 780:
Page 781 and 782:
Page 783 and 784:
CSOEs Statesponsored Agenda Resourc
Page 785 and 786:
Page 787 and 788:
Track 19: Graduate Student Paper Ch
Page 789 and 790:
Page 791 and 792:
Page 793 and 794:
Page 795 and 796:
Page 797 and 798:
Page 799 and 800:
+ ∑ ∑ β j it )(ln X jt ) + ∑
Page 801 and 802:
Page 803 and 804:
Page 805 and 806:
Page 807 and 808:
Page 809 and 810:
Page 811 and 812:
Methodology and estimation results
Page 813 and 814:
Page 815 and 816:
Page 817 and 818:
Page 819 and 820:
Page 821 and 822:
Page 823 and 824:
Page 825 and 826:
Methodology Challenges in the Era o
Page 827 and 828:
Page 829 and 830:
Page 831 and 832:
Page 833 and 834:
Page 835 and 836:
Figure1.1Inflation and Indexation R
Page 837 and 838:
Page 839 and 840:
Page 841 and 842:
Page 843 and 844:
Football Spectatorship Challenges i
Page 845 and 846:
R 2, 000 - R5, 000 22 R5, 001 - R10
Page 847 and 848:
Page 849 and 850:
Page 851 and 852:
Page 853 and 854:
Page 855 and 856:
show all

Challenges in the Era of Globalization - iaabd

Create successful ePaper yourself

Delete template?

Save as template?