PAYMENTS 3 2.2.0 FACTORS AFFECTING DIVIDEND POLICY 5 2.2.1 LEGAL RESTRAINTS 5 2.2.2 SHAREHOLDERS EXPECTATIONS 5 2.2.3 TAXATION 6 2.2.4 CASH-FLOW UNCERTAINTY 7 3.0 DIVIDEND POLICY RELEVANCY 8 3.1.0 EXPLANATIONS OF DIVIDEND RELEVANCE 8 3.1.1 THE BIRD-IN-THE-HAND EXPLANATION 8 3.1.2 THE SIGNALLING EXPLANATION 9 3.1.3 THE TAX-PREFERENCE EXPLANATION 10 3.1.4 THE AGENCY EXPLANATION 10 3.2.0 INDUSTRY INFLUENCE ON DIVIDEND POLICY 11 4.0 THE CLIENTELE EFFECT
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Integration Efforts in the Caribbean INTEGRATION EFFORTS IN THE CARIBBEAN ESSAY Sir Arthur Lewis in 1965 wrote ‘these islands did not start on the federal road in a fit of idleness. They start because it was clear that a federation is the only possible solution to their problem.” To understand what Sir Arthur Lewis meant regional integration must be defined. According to Carbough (2004)‚ regional integration is a process of eliminating restrictions on international trade‚ payments and factors of
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Introduction /Overview In this essay the challenge is to shown the relevance of philosophy to 21st century manufacturing. As philosophy is not a new concept there is a wide and defervesce range of ideas (on everything that existed and does not yet exist). The people who study philosophy and deal with such matters must have at one stage put forward some thoughts on manufacturing and even engineering in general. Philosophy comes from the Greek for "love of wisdom‚" giving us two important starting
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Relevance of Gandhi in the Global Economic Meltdown “An economics that inculcates Mammon worship‚ and enables the strong to amass wealth at the expense of the weak‚ is a false and dismal science. It spells death. True economics‚ on the other hand‚ stands for social justice; it promotes the good of all equally including the weakest‚ and is indispensable for decent life”. (Harijan‚ 9-10-1937‚ p.292) Early this year‚ on 7th January‚ 2009‚ Indians the world over‚ woke up to the shocking headlines
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the Caribbean. The incorporation of the Dutch into the Caribbean during the latter half of the 16th century and early 17th century came on the heels of them seeing the prosperous economic opportunities at the time dominated by the Spanish. In the Caribbean‚ the Dutch concentrated on wrestling from Portugal its grip on the sugar and slave trade through attacks on the Spanish treasure fleets on their homeward bound voyages. Though the prime and most active time for the Dutch in the Caribbean lasted
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Culture is a very powerful system that we have today in the world. As stated in the text of the third edition of Invitation to the Life Span‚ culture is defined as ‘A system of shared beliefs‚ norms‚ behaviors‚ and expectations that persists over time and prescribe social behavior and assumptions. In every culture‚ something is done differently than the others. Weather is taking time off to care for a baby or going right back to work after a baby’s birth. It’s all different. We also have similarities
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Industrialisation was a slow transformation that took place in Europe during the first half of the nineteenth century. It affected many people and countries. Lots of areas of society and the economy improved during this time for example banking‚ transportation and communication all changed for the better. ’Western Europe underwent a period of rapid urbanization’ (Merriman‚ 1996‚ p.669). The population grew so the manufacturing industry had to change and improve in order to keep up with demand. Before
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Is the Caribbean a geographical region defined by proximity to a body of water? Is it a group of nations defined by a common history or culture or by political links? Is there such a thing as a Caribbean identity or spirit or culture shared by all the territories clustered around the Caribbean Sea‚ regardless of language or political status? Do we as a Caribbean people act as members of a community or a culture that extends beyond the shores of individual islands? This essay will seek to show
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Question #5: Why is the Creolisation theory considered a more useful means of theorizing the Caribbean? How has Douglarisation contributed to the identity debate? Even though there is a separation created by geographic distances and different independent states‚ it is still possible to talk in general terms of the Caribbean‚ and of Caribbean literature. The common experience of colonialism‚ displacement‚ slavery‚ indenture‚ emancipation and nationalism has shaped most West Indian environments‚ creating
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Caribbean integration movement I read with great interest a March 4‚ 2012 article in the Jamaica Gleaner by former Assistant Secretary General of the CARICOM Secretariat‚ where he argues that poor leadership – political‚ institutional‚ and business – has failed the Caribbean integration process. In a recent Facebook discussion I was engaged in‚ a learned colleague questioned the relevance of regionalism. That regionalism is now being put up to question is not only troubling‚ but also speaks to low-level
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