Investigation of financial conservatism in the United Kingdom and Dissertation

Investigation of financial conservatism in the United Kingdom and China - Dissertation Example The financial data from selected conservative firms is analyzed empirically to prove the hypothesis that economic and financial crises and the structure of financial policies based upon conservative idioms are mutually inclusive. TABLE OF CONTENTS ABSTRACT 2 CHAPTER ONE: INTRODUCTION 4 1.1 Background of the Study 5 1.1.1 The United Kingdom†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.....6 1.1.2 China†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.9 1.2 Conservative Financial Theory†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..12 1.2.1 Pecking Order Theory 13 1.2.1 Agency Theor y vs. Stewardship 13 1.3 Financial Distress Theory 15 CHAPTER TWO LITERATURE REVIEW 17 2.1 Economic Theory 17 2.2 Empirical 20 CHAPTER THREE RESEARCH DESIGN AND METHODOLOGY 21 3.1 Theoretical Framework 21 3.2 Hypothesis 22 3.3Method 23 3.4Data Sample 23 3.5Results 26 3.6 Interpretation of Results 28 CHAPTER FOUR CONCLUSION AND RECOMMENDATIONS 29 REFERENCES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....30 APPENDICES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦33 CHAPTER ONE INTRODUCTION In considering the business world, it is worth noting that its environment of microeconomic activities lies within an unvarying state of transformation. This means therefore that the p articular indicators which served as tremendous financial assessment tools in a previous study can bear different meanings thereafter, hence many factors die and are born so as to maintain limits of time variations (Ahmed, A. S., B. K. Billings, R. M. Morton, and M., 2009). According to Easterby-Smith, an agency faces challenges in ; organizing and coordinating staffs, addressing diverse and unforeseen problems in ways that assure the continuity of any course of action, manoeuvring successfully between cultural, financial, and technical impediments, and lastly recovering an organization from fragments (Mark Easterby-Smith,2012).Financial distress is the reality that agencies cannot accomplish these achievements but rather struggle to meet financial obligations in a timely manner. Prospective macroeconomic productivity cannot take into account the unexpected determinants such as supply and demand or environment, all of which give a represent the highs and lows of life itself. The var iables provide a distinct outline that can be used in comparing the actual from the prospective (Balkrishna, H., Coulton, J.J. and Taylor, S.L., 2007). For this reason, financially conservative agencies tend to hold more cash reserves and minimize leverage. Today, interpretations of Finance and Accounting that are used to make important decisions are based upon different philosophies of macroeconomic applications. For the purposes of this study, applications of the theories of Financial Conservatism and Financial Distress used in Business Finance are analyzed for firms in the United Kingdom (UK) and in China. The empirical analysis consists of the financials of 100 companies from the fiscal years 2007 and 2009 (Ball, R., Bushman, R.M., and Vasvari, F.P., 2008a). 1.1 Background of the Study A universal principle of Business is to minimize possible risk and loss. Agencies adopt different structures based on personal beliefs and

Skills Approach best describes my leadership style Research Paper

Skills Approach best describes my leadership style - Research Paper Example These approaches can be seen as supporting each other because they offer dissimilar opinions on leadership from the perspective of skills. In the approach suggested by Katz in the 1955 Harvard Business Review, in the article titled â€Å"Skills of an Effective Administrator†, he acknowledges three diverse abilities that a leader ought to have. They include human skills, technical skills, and conceptual skills. Katz stated that these skills are rather dissimilar from traits of leaders. Skills are what leaders can achieve, while traits are who leaders are (Northouse, 2009). A technical skill is understanding about and capability and aptitude in a precise work or activity. For instance, to use definite computer software packages (like MS Excel) is a superior technical skill. A human skill is one that allows one to collaborate with people. It is dissimilar from technical skills, which have to do with things. These skills help us to cope with people and to correspond and work within teams. A conceptual skill refers to abilities to work with initiatives and concepts. These skills facilitate our understanding and put leaders in a position to better choose the actions and measures that have to be adopted in a specific field of work. Based on his deductions, Katz affirmed that the level of significance of each assortment of skills (conceptual, human and technical) was openly correlated with the degree that the individual has in the firm. The aim of this paper is to describe my leadership style using the skills approach. My leadership style is best described b y the skills approach, which illuminates my basis as a leader along with my inclinations to the function of leadership. The skills approach further underscores the inherent skills and abilities that denote my leadership style. The skills approach best describes me as a leader in the sense that it underscores my abilities and skills to perform the function of leadership and