What Everyone Is Saying About Academic Editing Service

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Practice Essay Topics - How to Improve Your Writing

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Cheap Assignment Writing Service

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The Reconstruction Era And The Jim Crow Era - 1525 Words

The Reconstruction Era and The Jim Crow Era were both times of Rapid growth in the United States that were characterized by changes not only on the intrapersonal level, but also on the cultural and legislative level. The Reconstruction Era occurred directly after the civil war and spanned twelve years from 1865 to 1877 , while the Jim Crow Era occurred from 1877 to 1954. Some of the common themes of these eras were race relations and tension between northern states and southern states. The first topic that this paper will be covering is race relations during these two eras. Race relations were a central theme in the two films The Birth of a Nation and Within Our Gates making it a natural fit. The other topic that will be covered in this paper is the role and responsibilities of northern states during the reconstruction era. In this paper, Northern states will be defined as any state who supported the union during the American Civil War. Race relations in the United States is someth ing that is relevant to both The Jim Crow and Reconstruction eras, but must be traced back to slavery to truly understand the context of what was taking place. Slavery began in 1619 and lasted until December 6th, 1865 which was the date that the 13th Amendment was ratified ; it is worth noting that other forms of slavery were taking place well after the passage of the 13th Amendment. An example of this is The Louisiana Black Code which stated that â€Å"Every negro is required to be in the regularShow MoreRelatedThe, Segregation, And The Segregation Of The Reconstruction Era, The Jim Crow Law1146 Words   |  5 Pages In the 1950s, after the dispersion of the Reconstruction era, the Jim Crow laws were created. A Jim Crow law was any law that enforced racial segregation in the South. Part of the development of the Jim Crow laws was the segregation of the railroads. This led to the making of Jim Crow cars, which were used to make a separation between the races. In June of 1892, Homer Plessy, an African-American train passenger, refused to sit in a Jim Crow car, which was a car reserved for Blacks onlyRead More C. Vann Woodwards The Strange Career of Jim Crow Essay1719 Words   |  7 PagesC. Vann Woodwards The Strange Career of Jim Crow In the field of history, it is rare that an author actually comes to shape the events discussed in their writing. However, this was the case for C. Vann Woodward and his book, The Strange Career of Jim Crow. First published in 1955, it discusses this history of race relations in America, more specifically the Jim Crow laws he equates with the segregation of races. Woodward argues that segregation itself was a fairly new development withinRead MoreThe Jim-Crow Era: An Omitted Era in American History1524 Words   |  7 PagesStates, looking to the past is common, to learn from our mistakes but some undeniable issues of the past repeat and are omitted from our society because of their unpleasant nature, a great example of this is the Jim-Crow Era. In this paper, I will be discussing the main events of the Jim-Crow era, its initiation, the new style of slavery in the south, and the way it re-shaped the lives of African Americans all across the country, its re-enforcement in the begi nning of the twentieth century, its majorRead MoreThe Amendment Of The Fourteenth Amendment1438 Words   |  6 Pagesamendment was passed and the American Civil War had officially ended, the Reconstruction era began. During this era, blacks had begun to feel what it was like to be free, but it did not last for long. Despite the 13th amendment passing, the black community was still heavily discriminated against in the south. This discrimination (and destruction of the southern way of life) eventually led to the creation of â€Å"Black Codes† and â€Å"Jim Crow Laws†. In 1865, not long after the passing of the 13th amendment,Read MoreJim Crow Laws Essay1613 Words   |  7 PagesComedy performer Thomas â€Å"Jim Crow† Rice coined the term â€Å"Jim Crow† through his derogatory minstrel shows in which danced and sang in an offensive way towards African Americans while covered in black shoe polish. Even though Rice was only trying to entertain his audience, his performances suggested that all African Americans were ignorant useless buffoons Rice’s performances were so derogatory towards African Americans that they removed signs of humanity from them and caused people to become lessRead MoreEssay about Jim Crows Legacy 616 Words   |  3 Pagessouthern white population throughout the local and state governments south of the Mason-Dixon Line. Jim Crow laws provided legal loopholes that skirted the spirit of the Emancipation Proclamation and they gave legal cover to those who longed for the pre-Civil War/Reconstruction era. The i nsidious nature of Jim Crow easily converted bigotry and intolerance from vile vices to prized virtues. Although Jim Crow laws were settled by the 1954 court case, Brown v. Board of Education of Topeka, where all lawsRead MoreEssay on The Strange Career of Jim Crow1336 Words   |  6 PagesThe Strange Career of Jim Crow C. Vann Woodward’s book, The Strange Career of Jim Crow, has been hailed as a book which shaped our views of the history of the Civil Rights Movement and of the American South. Martin Luther King, Jr. described the book as â€Å"the historical Bible of the civil rights movement.† The argument presented in The Strange Career of Jim Crow is that the Jim Crow laws were relatively new introductions to the South that occurred towards the turn of the century rather thanRead MoreThe Laws And Customs Of The South After The Period Of Reconstruction864 Words   |  4 PagesJim Crow is the term given to describe the laws and customs of the south after the period of reconstruction. These were the products of southern whites determination to reinstall white supremacy. The name â€Å"Jim Crow† was originally popularized in the 1830s by a struggling actor Thomas ‘Daddy’ Rice. Rice, in blackface, played the role of a stereotypical black character to all white a udiences. His act portrayed blacks as ‘singing, dancing, fools.† Once Reconstruction ended in the south with the withdrawalRead MoreReconstruction’s Failure to Bring Social and Economic Equality625 Words   |  3 PagesThe Reconstruction Era lasted up to 1877 from the time just after the Civil War. The Reconstruction failed to bring about social and economic equality to the former slaves due to the southern whites’ resentful and bitter outlook on the matter, the Ku Klux Klan, and the Jim Crow laws. After the Civil War, the southern whites were extremely resentful and bitter. In 1865 the southern states began issuing â€Å"black codes,† which were laws made subsequent to the Civil War that had the effect of limitingRead MoreBooker T. Washington And His Critics : The Idea Of Racial Compromise1270 Words   |  6 PagesThe era of Jim Crow began after the end of Reconstruction in 1877, in which through the rebuilding of the South, whites established laws and customs that forced freed slaves to stay marginalized and targeted by Southern whites. The purpose of these Jim Crow ideas was to keep blacks and white separated, and to also keep blacks from progressing in society. For instance, Southern whites forced blacks to take literacy tests before they could be considered able to vote. From the start of this Jim Crow

Business Society and Planet of Jaguar Automobile Land Rover Limited

Question: Discuss about the Business Society and Planet. Answer: Identification and Description of Jaguar Land Rover Limited (UK) and Volkswagen (Germany) Jaguaris aluxury automobile brand ofJaguar Land Rover. Jaguar Land Rover is a Britishinternationalvehicle producer headquartered inWhitley, Coventry, England. From 2008, Jaguar Motors is owned and managed by the Tata Motors, an Indian-based company. Jaguar Land Rover Company is established around two prodigious British vehicle brands with extraordinary innovativeness and manufacturing competences. The companys engineering amenities are located in the United Kingdom. Jaguar Automobiles, instituted in the year 1922, is amongst the worlds leading producers of superfluity sports and saloon cars. Since 1948, Jaguar has been engineering 4x4s. Its merchandises have demarcated the fragments in which the corporation operates. The Jaguar Land Rover Corporation provides occupations to about 16,000 people, mainly in their motherland, UK, counting nearly 3,500 engineers at two brand expansion cores, in Whitley in Gaydon in Warwickshire and Coventry and. The Companys XJ, XF and XK brands are predo minantly contrived at the business's Castle Bromwich subsidiary in Birmingham, UK, whereas the Land Rover Freelander 2 and Range Rover Evoque are manufactured at the Halewood subsidiary, Liverpool. Other models such as Range Rover Sport, Discovery 3, Range Rover, and Land Rover's Defender, simulations are all fabricated at Solihull, in UK. This firm is a renowned prosperity creator for the United Kingdom, with about 78% of Land Rovers disseminated to more than 170 nations and approximately 70% of Jaguars products distributed to about 63 nations. Rummage sales to consumers are carried out primarily via licensed traders and dealers. In the past few decades,Jaguar Land Rover Limited has produced vehicles for the British Prime Minister, with the most current conveyancebeing anXE. The corporation as well clenchesroyal warrantsfrom Prince Charles and QueenElizabeth II(Bailey, Kobayashi, MacNeill, 2008). On the other hand, Volkswagenoften abbreviated asVW, is a German -basedcar manufacturerincepted on May 28, 1937, by theGerman Labour Front, and centered in Wolfsburg. Currently, it is considered as the largest automaker worldwide, hence its name peoples car (Price, 2003). The Group encompasses around 12 marques from seven European nations, namely, Bugatti , KODA, Audi, Volkswagen Passenger Cars, Ducati ,Lamborghini ,SEAT, Bentley, Volkswagen Commercial Vehicles, Scania ,Porsche, and MAN. Furthermore, the Volkswagen Group provides a broad variety of financial facilities, comprising of merchant and client financing, fleet management, insurance activities, leasing, and banking. Through its "TOGETHER Strategy 2025" future sequencer, the Volkswagen is building the approach for the largest transformation route in its antiquity: the rearrangement and repositioning of one of the greatest auto-makers to emerge an internationally foremost supplier of sustainable auto-mobility. In order to acc omplish this, the Company will be transmuting its locomotive central trade, and will amongst additional stuffs be introducing supplementary 30-plus completely electronic vehicles by the year 2025, as well as intensifying battery-operated machinery and self-sufficient driving as novel centralcapabilities.E-mobility, self-driving systems, momentum of the digital renovation, and the concomitant car conceptions the self-propelled globe is seeing evolutionary modifications. Volkswagen Inc., which lately underwent hard-hitting periods, has recognized the epic scopes of various challenges and as such the MNC is transposing itself for the future with its products and brands. Essential concerns require idealistic responses. In initiating its upcoming program TOGETHER Strategy 2025, this Group has launched the prime progression of revolution in its history. Its all-encompassing visualization is to turn out to be a world-leading supplier of sustainable auto-mobility. The pathway there will be subjugated by symphonic synchronicity and conversation as equals. For one reason: newfangled eras necessitate newfangled procedures of cooperation. Evident Differences between the two companies in terms of the range of issues dealt with in their social reports and the depth of coverage on specific issues According to the 2009/2010 Sustainability Report, it is evident that Jaguar Land Rover is not only concerned with the internal issues surrounding their business operations, but also external concerns which might influence them or the outside parties. This Sustainability Report provides information about the performance of the company on various environmental and social issues and as well describes out the key objectives of the entire firm at a corporate level (Jaguar Land Rover Limited, 2016). At Jaguar Land Rover, sustainable development is vital to the manner the corporation functions. This forms the fundamental value which motivates the long-term success of Jaguar. It is a common believe that it is important to conserve the robust repute of the firm brands, safeguarding the license to function, providing growth, as well as recalling the trust of every stakeholder.Jaguar Land Rover embarks on acting conscientiously and ethically towards dealers, suppliers, employers, customers, shareholders, and towards the environment and the general public in every business maneuver across the globe (Rover, 2014).Jaguar Land Rover aggressively trails industry-leading maintainable modernization across the entire commodity life cycle that is from design and production to performance and clearance to supply merchandises which benefit the consumers and ultimately lead to a more viable society.In addition, Jaguar is devoted to safeguarding its feasibility by capitalizing on its people as w ell as in research and expansion, proactively controlling its environmental and social influences and scheduling for the changeover towards a low carbon world. The Company's strategy is to attain or even surpass legal and supervisory necessities in all of its undertakings and prove its answerability to stakeholders by intermittently reporting on its performance in a crystal-clear and transparent manner (William B Werther; David Chandler, 2011). On the other hand, Volkswagen Company has set itself the go-getting aim of emerging an international leader in the delivery of sustainable auto-mobility(Benaya, 2015). By so doing, the Company is consolidating its sustainability administration further and simultaneously endorsing a culture of deliberation. As a response to the forfeiture of trust instigated by the diesel predicament, Volkswagen is as well altering its sustainability communications by evidently reinforcing open and crucial negotiation with external specialists and representatives of the major stakeholder groups. Together with the conformist sustainability report, the current sustainability magazineShiftprovides a space for a critical review and appraisal of both present issues as well as the forthcoming necessities for sustainable mobility. Unlike, its counterpart, Jaguar Land Rover, Volkswagen backs up community projects which endorse art and culture, science, education, sport and health (Manfred Pohl; Nick Tolhurst, 2010). This is so because the firm believes that as a corporation with international operations they have an obligation of accountability towards the whole global society which can hardly be contended by just applying charity. In contrast, Volkswagen takes individual and in particular long-term commitment. The Company's strategies concerning responsibility and sustainability focus on the 21st-century challenges, and above all conservation of resource and climate fortification, alongside Intra- and intergenerational justice. The projects the firm selects unlike Jaguar replicate a fundamental and philosophical principle based on two central rudiments: these are applying continuousness instead of just adhering to the state-of-the-art fashion, and endeavoring to generate sustainable operational developments at their sites as sources of social and economic incentive and opportunities for interested parties (Volkswagen Company, 2017). As opposed to Jaguar Inc., every CSR project which Volkswagen starts and backs up globally should gratify a number of vital guiding principles, ensuring that: All of them are in line with the Companys central beliefs while addressing explicit domestic or regional matters. They demonstrate the multiplicity within the Group in addition to the communal environment within which the undertakings transpire. They instigate from a powerful stakeholder exchange of ideas with native players, those proactively involved in undertaking realization, and Their project administration occurs domestically and is the duty of the units active in that particular locality (Volkswagen Group, 2016). Extent to which these differences be explained by the country or industry differences. What other explanations might there be As pointed earlier in a previous section of this paper, Jaguar Inc. is managed by Tata Motors; an Indian-based International Automotive. Therefore, the above CSR differences can be explained in close consideration of the location of host countries that is Asia and Europe. With regard to various rudiments, Asian companies appear to be doing less than their counterparts in Europe (Helen Sharmini Nesadurai; Joseph Soedradjad Djiwandono; Institute of Southeast Asian Studies.; S. Rajaratnam School of International Studies., 2009). Nonetheless, there exist some noteworthy exemptions to this especially when it comes to essentials allied to trade. Furthermore, some substantial dissimilarities in priorities can, to some extent, replicate issues which are recognized as more significant in particular nations. Even though European corporations are often up ahead of Asian establishments with respect to their CSR programs, there is a great opportunity for businesses to learn and pick up from each other (Alfons Sauquet Rovira; Mette Morsing, 2011). Corporate Social Responsibility (CSR) has emerged a vital trade conception over the past few decades (Ethical Corporation., 2011). Nevertheless, majority argue that this concept has not been adequately defined. This means that organizations can interpret it in accordance to how they see appropriate, and, therefore, some maintain that it is perceived as something that is added on to a corporations essential processes without altering in any substantial manner exactly how that business functions. However, maybe one ought to not be searching for a solitary description because social issues are extremely debatable, and dissimilar rudiments can be exceedingly conflicting. For instance, a survey carried out by Welford, 2004, proved that in the Asian companies there is a lesser devotion to freedom of association and preferment of workforce improvement and professional enlightenment. A strategy on the fortification of human rights within the corporations peculiar maneuvers (human rights 1) is prevalent in 54.8% of the European multinationals responding but by only about 10.9% of the Asian-based organizations. We may uncertainly propose that while staffs in European companies are more likely to be considered as human capital workforces in Asian firms are more probable to be viewed as just a factor of production(Welford, 2004). Assessment Of the Apparent Quality of the Social Accounting Approach Utilized by Each Company According To Zadek Et Al.'S (1997) Criteria Both Jaguar and Volkswagen corporations have been evaluated by use of the social accounting methodology according to (Zadek et al., 1997) that sketches the fundamental principles to be applied whenever measuring the eminence of social accounting. Inclusivity, as defined by (Zadek et al, 1997), is a transparent give-and-take conversation amongst the stakeholders (Andrew Crane; Dirk Matten, 2016). Jaguar Inc. of late has been involved with participants whereby the company has been able to initiate strategic environmental maintenance approaches. Similarly, the firm has been taking back to the community through backing up the hunger afflicted regions by offering relief food (Stertkamp, 2008). On the other hand, Volkswagen has involved the interested parties through the use of the social media in whereby the firm is continuously active consulting all their participants on various issues, particularly concerning the products. Correspondingly, the corporation has been able to uphold sustain ability whereby it has been able to spread its facilities to supplementary countries (Stitz, 2010). Both businesses have been able to gather feedback from their key shareholders which has been able to modify the management undertakings of the multinationals. There has been a development in the public accounting which has improved the companies ability to revolve the administration policies that fit both corporations and have made them have a healthier interface with their participants. Both multinationals have shown a sturdy capability to control their business structures and strategies as they have incorporated the shareholders more than before. Being international corporations, they both employ the Global Reporting Initiative while giving out their reports (yvind Ihlen; Jennifer Bartlett; Steve May, 2011). The extent to which the social reports provided by these companies reflect their stated values The stated values of Jaguar are Integrity, Understanding, Excellence, Unity, and Responsibility (Jaguar Company, 2016). It is a common believe in Jaguar Motors that corporations should operate while ensuring fairness, honesty, and transparency. As a result, everything the firm does always stands the test of community scrutiny. Besides, the company attempts to respect, sympathize and depict humanity through, say, caring about their consumers and colleagues all over the globe. According to Jaguar Inc. Good enough' is at no time good enough. As such the business aims for the premier standards and criterions possible in the manner, they function and in the quality of their vehicles, products, and facilities. Jaguar acknowledges that success is an outcome of initiating robust, equally advantageous relations with one another, associates as well as clienteles all over the world. The Corporation is often accountable for the nations, publics, and places they work. Their primary goal is to ens ure everybody benefits from working with the company (Mann, 2015). On the other hand, Volkswagen, according to the values guiding principle, is more than the employer. They are accountable to their stakeholders, the society, environment, and generally the global economy. Employees in this firm assume social accountability by taking part in voluntary activities. Responsible, collaborative, and sustainable thinking underlies all activities undertaken by the company (Volkswagen company, 2017). These values as discussed beforehand are replicated in the sustainability reports provided by these two corporations. They both work in different intercontinental CSR projects towards making the international economy more sustainable and nondiscriminatory. Annual progress reports document the undertaken projects (Tina Grant; Cengage Learning (Firm), 2007). Conclusions Multinational corporations (MNCs) such as Jaguar and Volkswagen have a fundamental role to play in the process of endorsing well-being and impartiality in our contemporary society. As depicted in various sections of this paper, there are different categories of role' and scope' which these companies can play in combination with several domestic and intercontinental firms such as the UK agencies, local government, as well as NGOs in the host nations. One of the most protuberant contributions from transnational corporations to the host nations Is Corporate Social Responsibility, often shortened as (CSR). Various sections of descriptions of the two MNCs ratify that MNCs have to prove their unremitting determinations to support the host countries. Every decent MNC should look cautiously at the manner their organizations are involved, contemplate on what more they can do to exterminate scarceness of resources, and thereafter take action. As validated by the arguments in this paper, we can terminate poverty (by 2030); and TNCs in developing countries ought to work collaboratively with the host governments to make this matter a reality. There are companies, such as Toyota, which have entrenched such concepts as CSR within their creativities as well as sanctioning them. By way of generating something sustainable, these establishments are backing up the international weakening which individuals cannot just overlook. In addition, they encourage ecologically friendly epitomes and movements since we do source from the surroundings to produce stuffs- it is only appropriate to do so in a rational, not detrimental manner. Bibliography Alfons Sauquet Rovira; Mette Morsing. (2011). Business schools and their contribution to society. Los Angeles: London : Sage. Andrew Crane; Dirk Matten. (2016). Business ethics : managing corporate citizenship and sustainability in the age of globalization. Oxford : Oxford University Press. Bailey, D., Kobayashi, S., MacNeill, S. (2008). Rover and out? Globalisation, the West Midlands auto cluster, and the end of MG Rover. Policy Studies, 267-279. Benaya, E. K. (2015). Change in CSR initiatives of Volkswagen in South Africa following the implementation of BBBEE. Ethical Corporation. (2011). Ethical corporation magazine. London : Ethical Corp. Helen Sharmini Nesadurai; Joseph Soedradjad Djiwandono; Institute of Southeast Asian Studies.; S. Rajaratnam School of International Studies. (2009). Southeast Asia in the global economy : securing competitiveness and social protection. Singapore : Institute of Southeast Asian Studies: S. Rajaratnam School of International Studies, . Jaguar Company. (2016). OUR VALUES. Retrieved from Jaguar The Art of Performance: https://www.jaguar.com/about-jaguar/jaguar-business/corporate-values.html JAGUAR LAND ROVER LIMITED . (2016). SUSTAINABILITY REPORT. Retrieved from Jaguar the Art of Performance : https://www.jaguar.com/about-jaguar/sustainability/sustainability_report.html Manfred Pohl; Nick Tolhurst. (2010). Responsible business : how to manage a CSR strategy successfully. Chichester UK: John Wiley Sons,. Mann, J. (2015). Jaguar cars. Minneapolis, MN: Motorbooks. yvind Ihlen; Jennifer Bartlett; Steve May. (2011). The Handbook of Communication and Corporate Social Responsibility. New York, NY : John Wiley Sons. Price, R. L. (2003). The VW Beetle : a production history of the world's most famous car, 1936-1967. New York: Berkley Pub. Group. Rover, J. L. (2014). Corporate social responsibility : a very short introduction. Oxford : Oxford University Press. Stertkamp, H. (2008). Jaguar : the complete story. St. Paul, Minn.: MBI ; Enfield : Publishers Group UK [distributor],. Stitz, D. (2010). Corporate Social Responsibility ein La?ndervergleich zwischen den USA und Deutschland; institutionelle Rahmenbedingungen fu?r CSR-Aktivita?ten im Vergleich. Mu?nchen GRIN Verlag GmbH . Tina Grant; Cengage Learning (Firm). (2007). International directory of company histories : Volume 48. Chicago : St. James Press. Volkswagen Company. (2017). DRIVE Volkswagen Group Forum. Retrieved from Volkswagen Live: https://en.volkswagen.com/en/company/responsibility/social-responsibility.html Volkswagen company. (2017). Forging ahead with sustainability. Retrieved from Volkswagen live: https://www.volkswagen-karriere.de/en/what_we_stand_for/our_values/sustainability.html Volkswagen Group. (2016, 11 28). Volkswagen presents Group sustainability report and new sustainability magazine Shift. Retrieved from Nachrichten: https://www.volkswagenag.com/en/news/2016/11/sustainability_magazine_Shift.html Welford, R. (2004). Corporate Social Responsibility in Europe and Asia. Critical Elements and Best Practice, 47. William B Werther; David Chandler. (2011). Strategic corporate social responsibility : stakeholders in a global environment. Los Angeles: SAGE.

Thomas Cobb Essays - International Law, Secession, Cobb,

Thomas Cobb When Abraham Lincoln was elected president in 1860, Thomas Cobb realized that the South had suffered a major loss in power. Since the Republican party controlled the executive, there was no way the South could have any say in the government. All their opinions could be easily disregarded by the North; their neglect of the Fugitive Slave Law was a perfect example of this. Cobb also understood that the Northerner?s sudden patriotism for the Union was quite out of place. Only fifty-four years earlier, the New England states had threatened to secede from the Union if powers limiting the control of the government were not added to the Constitution. Sensing their loss of control in the government, Cobb felt the only option was to secede. Although this meant a loss of financial aid that comes with being part of a blossoming new nation, the economic repercussions of not seceding would be much worse. Slavery was an important industry in the South. Southerners used slaves to pick their cotton which was their main source of agricultural income. With the new Republican president, they became fearful that slavery would be abolished. Cobb also believed that ?the right to decide [about secession] is one of the ?reserved rights? of the states. He deemed that the sovereign states had the right to decide of federal laws were constitutional and that they had the right to secede from the Union. This, he felt, was implied in Amendments Ten and Twelve. This belief probably stemmed from the fear of tyranny that U.S. citizens felt after their liberation from England. Therefore, Cobb would support decentralization in the government. He also based this idea on the concept of nullification, which said that the states had the final decision on the constitutionality of laws. Cobb viewed the South as a minority who was being taken advantage of by the North. This angered him because he didn?t believe the government was protecting the rights of the states. Instead, they were caving into the extreme ideas of the abolitionists. As he was quoted in Freeling?s Secession Debated: Georgia?s Showdown in 1860: ...?while the constitution is full of checks and balances to protect the minority from the sudden and excited power of a majority, no provision was suggested for the protection of the majority from the despotic rule of infuriated, fanatical, sectional minority.? Cobb supported a system that would put checks and balances on the minority. In keeping with the spirit of the Constitution, Cobb argued that a state as large as Georgia, with more slaves, more people and more voters and more slave holders should receive more respect and have a greater say in the government. Otherwise, Georgia?s rights were not being protected and the concept of democratic America went down the drain. This was as good a reason as any to secede. Cobb asked, why should the South be bound to a Union that didn?t even uphold their right to liberty? By staying in the Union, Georgia would be letting itself be taken advantage of by a sectional minority. Therefore, the only option was to secede and preserve the state?s right to sovereignty.

The literature about the determinants of dividend policy discussed in the previous section is collected from various empirical researches based on different conditions. The WritePass Journal

The literature about the determinants of dividend policy discussed in the previous section is collected from various empirical researches based on different conditions. Introduction The literature about the determinants of dividend policy discussed in the previous section is collected from various empirical researches based on different conditions. IntroductionConclusionRelated Introduction The literature about the determinants of dividend policy discussed in the previous section is collected from various empirical researches based on different conditions. Some of the results are gleaned from surveys by directly asking the managers‘ view towards dividend policy; some are gleaned from statistical analysis by observing the companies‘ financial data; others are just a theoretically deductive process conducted by academicians. Therefore, it is necessary to find out that whether those determinants gained from the empirical literature can work properly in Financial Service industry in UK market. Thus, 9 hypotheses with respect to each of the determinants have been raised. H1: All else equal, dividend policy relies upon firm’s earnings power. This paper expects that more profitable firms should pay more dividends in UK stock market. Firms with high profitability have the capacity to provide large cash flow. Therefore, there is no need to worry whether the fi rms have enough cash flow to payout dividends even if a lot of cash flow is used to finance new investments. Thus, it can be hypothesized that profitability has a positive relationship with dividend payouts. As a proxy, the level of firms‘ profitability can be measured by the return on assets (ROA). H2: All else equal, dividends signals future earnings growth. This paper expects that low dividend payments will predict a high earning growth in UK market. Dividends act as a signaling mechanism under the imperfect market situation, where information asymmetry exists between managers and investors. Managers often process and trade on information about firm‘s future earning fluctuation through dividend payments. Therefore, any change in dividend policy will be interpreted as a change in management‘s expectation of future earnings. Under the circumstance oflimited cash flow, more investment opportunities actually mean high future earnings growth, but in the same time, will reduce the free internal cash flow available for dividend payments. Therefore, it can be hypothesized a negative relationship between dividend payouts and future earnings growth. Annual rate of growth of earnings per share (GROWTH) is commonly used as a proxy for firms‘ earning growth. H3: All else equal, dividend and debt are direct substitutes. This paper expects that the level of risk will be negatively related to dividend payments in UK market. Fir ms with high debt ratios are more likely to pay a lower level of dividends, because they have already pre-committed their cash flows to make debt payments and to avoid borrowing more capital. Thus, high leveraged firms do not have sufficient cash flow to afford high dividend payment, and reflect a negative relationship. Firms‘ leverage ratio (LEV) is used to represent risk in statistical analysis. H4: All else equal, past dividend have influence on current dividend policy. This paper expects a positive relationship between past dividend and dividend payouts in UK market. The signaling function of dividend payments suggests that any change in dividend policy reflects changes in the managers‘ prediction of firms‘ prospects. In addition, both the market and the firms prefer certain degree of continuity in dividend payments. Therefore, past dividend payments is essential in the decision making of future dividends. Lintner‘s partial adjustment model and target pay out ratio present a positive relationship between the two variables. As a proxy for continuity of dividends, past dividend (PD) can be used and a positive relationship can be expected from the result. H5: All else equal, liquidity/ cash flow is the fundamental element in dividend paying. This paper expect dividend payments positively correlated with firms’ cash flow in UKmarket. Sometimes, the concepts of cash flow and profit is two different things. The former is the free cash flow in the companies available for companies operating and investing activities, the later means the current earnings of the firm. The empirical experience tell us that even companies with negative earnings pay dividend to shareholders to maintain a stable dividend payments, and transfer the information of temporary losses to the public. In that case, only the free cash flow of the companies matters when dividends are distributed to shareholders. A poor liquidity position means less generous dividends due to shortage of cash. Therefore, it can be hypothesized that firms with high cash flows have the tendency to allocate more to paying dividends. The variable used is the cash flow per share (CFPS) an d it should have a positive impact on dividend payout ratios. H6: All else equal, larger firms distribute larger dividends. This paper expects that dividend payments will be positively associated with size of the firm in UK market. In the imperfect capital market, where the investors and firms cannot borrow at the same cost, larger firms should have easier access to external funds and can borrow at a cheaper rate than small firms can. In addition, being more competitive than smaller firms are, larger firms should have more investment opportunities, and therefore high future earnings growth can be expected. In that case, managers of large firms are more likely to distribute high dividend payments, and convey their positive expectations of the firms‘ prospect. As a common surrogate for size is logarithm of the firms‘ total market value (MV) and it is expected to be positively correlated to dividend payouts. H7: All else equal, dividend payments operates as an information s ignal. This paper expects that firms with greater investment opportunities will pay lesser dividend in UK market. Asymmetry information provides a new insight into the explanation of dividend puzzle. The unequal information barrier of the insiders and outsiders inevitably highlight the importance of dividend payments acting as a medium to convey information for the two parties. Meanwhile, because of the general tendency for stable dividend payouts, any change in dividend policy is recognized as an information exposure of firms‘ prospects. Therefore, rather than distributing more to shareholders, managers are likely to retain more to satisfy the financial needs required by future investment opportunities. Thus, a common proxy for investment opportunities is the market-to-book ratio (MBV) and it is expected to be negatively associated with dividend payouts. H8: Financial crisis has jeopardized the economy on a worldwide basis. This paper expects that financial distress will infl uence dividend policy in service industry in UK market. Happened in the middle of 2007, financial crisis lasted for almost two years, and has brought great damage to global economy. The major victim of financial crisis is global banks and financial institutions. Other industries will be more or less affected by the influence of financial pressure. In the three years of financial crisis, almost all the industries are confronting the increasing requirements of free cash flow. However, during this period, both banks and financial institutions are extremely lack of funds, and therefore, cannot satisfy the financial requirements of the market. As a response to this serious situation, tougher capital constrains resulted in high costs for borrowing from external sources. Therefore, for companies, financial crisis raised the pre-determined cost of debt, and in turn reduce the amount of cash flow for dividend payments. H9: Different industries have different regulations and laws. This paper expects that different industrial classification will result in different dividend policies in UK market. It is generally accepted that firms adjust their dividend policies to suit the particular circumstances facing the industry in which they operate. Like for instance, firms in high growth industries will enjoy many financing discounts from the regulations, therefore, facing more advantages in investing and financing activities. Thus, it is necessary for them to modify their dividend-based strategies in an attempt to maintain more retained earnings for more new investment opportunities. Nevertheless, firms in mature and saturated industries ought to maintain stable dividend payouts rather than to reserve more retained earnings when investment opportunities are limited in their industrial sector. The expectations of this paper and the previous researchers’ attitudes towards the relationship between divid end policy and its determinants can be summarized in the table 1. Conclusion Proxies Variables Expected Literature indicated relationship PR dividend payout policy ROA profitability Positive Positive GROWTH earnings growth Negative Positive or Negative LEV level of risk Negative Negative PD past dividens Positive Positive CFPS liquidity Positive Positive MV firms size Positive Positive MTBV investment opportunities Negative Negative or no relationship.