Download or read book The Fairness Opinion Puzzle written by Yasuhiro Ohta and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do 60% of target boards voluntarily solicit and pay for seemingly worthless 'Texas-wide' fairness opinions while 40% of their peers do not? Our new insight is that target boards speak to more than one shareholder generation through fairness opinions. We model fairness opinions as a cheap-talk game between a board of directors and public shareholders. In the core game, a board issues a fairness opinion to communicate with two shareholder generations: existing shareholders voting on the proposed sale of their shares, and potential after-market buyers who would buy if the present transaction fails. The game yields two distinct equilibria: one where the board issues no fairness opinions and one where Texas-wide fairness opinions emerge as equilibrium messages. The core game assumes that: (i) shareholders know the status of the board's private incentive; (ii) the proposed buyer sets a fixed bid equal to the ex ante expected value of the firm; and (iii) shareholders have no information about the target that the board does not have. We relax each of these three assumptions and prove that the conclusions drawn from the core game continue to hold. We conclude that three factors determine the width of fairness opinions: the board's private incentives; information asymmetry between the board and shareholders; and transactions costs incurred by after-market buyers if the current bid fails.
Download or read book Pension Puzzles written by Melissa Hardy and published by Russell Sage Foundation. This book was released on 2007-07-19 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rancorous debate over the future of Social Security reached a fever pitch in 2005 when President Bush unsuccessfully proposed a plan for private retirement accounts. Although efforts to reform Social Security seem to have reached an impasse, the long-term problem—the projected Social Security deficit—remains. In Pension Puzzles, sociologists Melissa Hardy and Lawrence Hazelrigg explain for a general audience the fiscal challenges facing Social Security and explore the larger political context of the Social Security debate. Pension Puzzles cuts through the sloganeering of politicians in both parties, presenting Social Security's technical problems evenhandedly and showing how the Social Security debate is one piece of a larger political struggle. Hardy and Hazelrigg strip away the ideological baggage to explicate the basic terms and concepts needed to understand the predicament of Social Security. They compare the cases for privatizing Social Security and for preserving the program in its current form with adjustments to taxes and benefits, and they examine the different economic projections assumed by proponents of each approach. In pursuit of its privatization agenda, Hardy and Hazelrigg argue, the Bush administration has misled the public on an issue that was already widely misunderstood. The authors show how privatization proponents have relied on dubious assumptions about future rates of return to stock market investments and about the average citizen's ability to make informed investment decisions. In addition, the administration has painted the real but manageable shortfalls in Social Security revenue as a fiscal crisis. Projections of Social Security revenues and benefits by the Social Security Administration have treated revenues as fixed, when in fact they are determined by choices made by Congress. Ultimately, as Hardy and Hazelrigg point out, the clash over Social Security is about more than technical fiscal issues: it is part of the larger culture wars and the ideological struggle over what kind of social responsibilities and rights American citizens should have. This rancorous partisan wrangling, the alarmist talk about a "crisis" in Social Security, and the outright deception employed in this debate have all undermined the trust between citizens and government that is needed to restore the solvency of Social Security for future generations of retirees. Drawing together economic analyses, public opinion data, and historical narratives, Pension Puzzles is a lucid and engaging guide to the major proposals for Social Security reform. It is also an insightful exploration of what that debate reveals about American political culture in the twenty-first century. A Volume in the American Sociological Association's Rose Series in Sociology
Download or read book Fairness Opinion Insight written by Duff & Phelps Corp and published by . This book was released on 2009 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Deal written by and published by . This book was released on 2008 with total page 776 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tax Fairness and Folk Justice written by Steven M. Sheffrin and published by Cambridge University Press. This book was released on 2013-10-28 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why have Americans severely limited the estate and gift tax - ostensibly targeted at only the very wealthy - but greatly expanded the subsidies to low-wage workers through the Earned Income Tax Credit, now the single largest poverty program in the country? Why do people hate the property tax so much, yet seemingly revolt against it only during periods of economic change? Why are some groups of taxpayers more obedient to the tax authorities than others, even when they face the same enforcement regime? These puzzling questions all revolve around perceptions of tax fairness. Is the public simply inconsistent? A sympathetic and unified explanation for these attitudes is based on understanding the everyday psychology of fairness and how it comes to be applied in taxation. This book demonstrates how a serious consideration of 'folk justice' can deepen our understanding of how tax systems actually function and how they can perhaps be reformed.
Download or read book Judging Justice written by James D Meernik and published by University of Michigan Press. This book was released on 2019-02-07 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some injustices are so massive, so heinous, and so extraordinary that ordinary courts are no longer adequate. The creation of international courts and tribunals to confront major violations of human rights sought to bring justice to affected communities as well as to the entire world. Yet if justice is a righting of the imbalance between what has happened and what is reflected in the law, no amount of punishment and no judgment could compensate for that suffering and loss. In order to understand the meaning of justice, James David Meernik and Kimi Lynn King studied the perspective of witnesses who have testified before the International Criminal Tribunal for the Former Yugoslavia (ICTY). Using a unique survey, Meernik and King look at the identity of the victims and their perception of the fairness of ICTY. Because of the need to justify the practical and emotional difficulties involved in testifying before an international tribunal, witnesses look not just to the institution to judge its effectiveness, but also to their own contribution, by testifying effectively. The central elements of the theory Meernik and King develop—identity, fairness, and experience—transcend specific conflicts and specific countries and are of importance to people everywhere.
Download or read book The Fair and Equitable Treatment Standard in the International Law of Foreign Investment written by Ioana Tudor and published by OUP Oxford. This book was released on 2008-03-13 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: The treatment of foreign investors and of their investments on the territory of a host State is often subject to a bilateral investment treaty (BIT) signed by the national State of the investors and the host State. These BITs usually contain a clause in which the two States offer fair and equitable treatment (FET) to the foreign investors on their territory. Moreover, this clause has become a norm of customary law, implying that investors may rely on it even outside the context of the BIT. Foreign investors whose rights under this clause have not been respected may bring the State in front of an international tribunal. This book analyses not only the conventional and customary framework se the FET clause but also its scope and all its applications in the existing case law. This book tackles the standard of fair and equitable treatment by applying four conceptual frames: the legal basis of FET, its nature as a standard, its content and finally the implications of its breach. The first two chapters explore the two classical sources of international law as possible sources for FET. The main sources of FET lie in a rich conventional framework, mainly bilateral and regional. Yet the high number of BITs does not appear to offer a uniform model of FET clauses, quite the opposite; the book offers a classification of the FET clauses found in more than 400 BITs. Having concluded that the conventional framework is essential to FET, the book turns to the examination of the possible customary character of FET and argues that the view equating FET with the International Minimum Standard is erroneous and it limits the scope of FET. Alternatively, it suggests that the FET standard is an independent standard of customary nature. Then the book looks at the nature of FET, that of being a standard and retains three direct consequences for its meaning: its flexibility, the absence of a fixed content and its evolutionary character. With these three characteristics in mind, it proceeds to the third conceptual framework, the content of FET. Although no fixed content may be given to it, it identifies and develops each one of those situations in which the FET standard has already been applied. Finally, the last conceptual framework aims at discussing the final act of a FET claim, i.e. the amount of compensation awarded. It argues that FETis a standard which balances the interests and behaviours of both the States and the investors, at the stage of compensation.
Download or read book The Ajax Dilemma written by Paul Woodruff and published by Oxford University Press. This book was released on 2011-10-20 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: We live in a world where CEOs give themselves million dollar bonuses even as their companies go bankrupt and ordinary workers are laid off; where athletes make millions while teachers struggle to survive; a world, in short, where rewards are often unfairly meted out. In The Ajax Dilemma, Paul Woodruff examines one of today's most pressing moral issues: how to distribute rewards and public recognition without damaging the social fabric. How should we honor those whose behavior and achievement is essential to our overall success? Is it fair or right to lavish rewards on the superstar at the expense of the hardworking rank-and-file? How do we distinguish an impartial fairness from what is truly just? Woodruff builds his answer to these questions around the ancient conflict between Ajax and Odysseus over the armor of the slain warrior Achilles. King Agamemnon arranges a speech contest to decide the issue. Ajax, the loyal workhorse, loses the contest, and the priceless armor, to Odysseus, the brilliantly deceptive strategist who will lead the Greeks to victory. Deeply insulted, Ajax goes on a rampage and commits suicide, and in his rage we see the resentment of every loyal worker who has been passed over in favor of those who are more gifted, or whose skills are more highly valued. How should we deal with the "Ajax dilemma"? Woodruff argues that while we can never create a perfect system for distributing just rewards, we can recognize the essential role that wisdom, compassion, moderation, and respect must play if we are to restore the basic sense of justice on which all communities depend. This short, thoughtful book, written with Woodruff's characteristic elegance, investigates some of the most bitterly divisive issues in American today.
Download or read book How Asians View Democratic Legitimacy written by Yun-han Chu and published by 國立臺灣大學出版中心. This book was released on 2023-04-01 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume is intended to showcase the breadth and depth of the collaborative intellectual enterprise that the Asian Barometer Survey (ABS) network has built up over the past two decades. To commemorate the twentieth anniversary of the ABS, we invited ABS partners to contribute their intellectual findings to this edited volume. Except for the introduction, this volume consists of twenty-seven chapters divided into two sections. The first part of the book contains eleven chapters that are based on previously published studies and are updated based on the latest ABS data. The second part of the book focuses on issues specific to each country or autonomous territory and consists of sixteen chapters. Among the topics discussed are potential threats to third-wave democracies, evolving ideology in one-party states, cases of denied democracy, and peculiar challenges faced by long-term democracies. The contributors are the indispensable partners that have made the ABS possible over the past two decades. In addition to celebrating the long-term collective efforts of those who participated in the ABS project, this edited volume also sets out to address the ongoing debate over the future of democracy in Asia.
Download or read book Diaminds written by Mihnea Moldoveanu and published by University of Toronto Press. This book was released on 2009-11-28 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: What constitutes successful thinking in business? What are some of the techniques used by top business minds in order to solve problems and create value? Diaminds breaks new ground in addressing these questions. Mihnea Moldoveanu and Roger Martin, creators of the Integrative Thinking curriculum at the Rotman School of Management, draw upon case studies and interviews - as well as theories and models from cognitive psychology, epistemology, analytic philosophy, and semiotics - to offer a new conception of successful intelligence that is immediately applicable to business situations. The 'diamind' (or dialogical mind) is characterized by bi-stability (simultaneously holding opposite plans, models, courses of action in mind while retaining the ability to act), meliorism (increasing the logical depth and informational breadth of one's thinking processes), choicefulness (retaining the ability to choose among various representations of the world, the self and others) and polyphony (thinking about the way one formulates and solves a problem while at the same time thinking about the problem itself). End-of-chapter exercises encourage readers to examine and re-engineer their own thought and perception patterns to develop these qualities and cultivate their own 'diaminds.'
Download or read book Race Reform and Regulation of the Electoral Process written by Guy-Uriel E. Charles and published by Cambridge University Press. This book was released on 2011-01-17 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a critical re-evaluation of three fundamental and interlocking themes in American democracy: the relationship between race and politics, the performance and reform of election systems and the role of courts in regulating the political process. This edited volume features contributions from some of the leading voices in election law and social science. The authors address the recurring questions for American democracy and identify new challenges for the twenty-first century. They not only consider where current policy and scholarship are headed, but also suggest where they ought to go over the next two decades. The book thus provides intellectual guideposts for future scholarship and policy making in American democracy.
Download or read book Knowing Our Limits written by Nathan Ballantyne and published by Oxford University Press, USA. This book was released on 2019 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changing our minds isn't easy. Even when we recognize our views are disputed by intelligent and informed people, we rarely doubt our rightness. Why is this so? How can we become more open-minded, putting ourselves in a better position to tolerate conflict, advance collective inquiry, and learn from differing perspectives in a complex world? Nathan Ballantyne defends the indispensable role of epistemology in tackling these issues. For early modern philosophers, the point of reflecting on inquiry was to understand how our beliefs are often distorted by prejudice and self-interest, and to improve the foundations of human knowledge. Ballantyne seeks to recover and modernize this classical tradition by vigorously defending an interdisciplinary approach to epistemology, blending philosophical theorizing with insights from the social and cognitive sciences. Many of us need tools to help us think more circumspectly about our controversial views. Ballantyne develops a method for distinguishing between our reasonable and unreasonable opinions, in light of evidence about bias, information overload, and rival experts. This method guides us to greater intellectual openness--in the spirit of skeptics from Socrates to Montaigne to Bertrand Russell--making us more inclined to admit that sometimes we don't have the right answers. With vibrant prose and fascinating examples from science and history, Ballantyne shows how epistemology can help us know our limits.
Download or read book The Lawyer Banker and Southern Bench Bar Review written by and published by . This book was released on 1925 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Unequal Democracies written by Noam Lupu and published by Cambridge University Press. This book was released on 2023-12-31 with total page 387 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduces the latest research on political inequality and its relationship to economic inequalities in North America and Western Europe.
Download or read book Immigration and the American Ethos written by Morris Levy and published by Cambridge University Press. This book was released on 2020-01-02 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Above and beyond the influence of prejudice and ethno-nationalism, perceptions of 'civic fairness' shape how most Americans navigate immigration controversies.
Download or read book Criminal Fair Trial Rights written by Ryan Goss and published by Bloomsbury Publishing. This book was released on 2014-09-11 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Article 6 fair trial rights are the most heavily-litigated Convention rights before the European Court of Human Rights, generating a large and complex body of case law. With this book, Goss provides an innovative and critical analysis of the European Court's Article 6 case law. The category of 'fair trial rights' includes many component rights. The existing literature tends to chart the law with respect to each of these component rights, one by one. This traditional approach is useful, but it risks artificially isolating the case law in a series of watertight compartments. This book takes a complementary but different approach. Instead of analysing the component rights one by one, it takes a critical look at the case law through a number of 'cross-cutting' problems and themes common to all or many of the component rights. For example: how does the Court view its role in Article 6 cases? When will the Court recognise an implied right in Article 6? How does the Court assess Article 6 infringements, and when will the public interest justify an infringement? The book's case-law-driven approach allows Goss to demonstrate that the European Court's criminal fair trial rights jurisprudence is marked by considerable uncertainty, inconsistency, and incoherence.
Download or read book Economics Reading Lists Course Outlines Exams Puzzles Problems written by and published by . This book was released on 1981 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt:
