Discuss the Nature, Scope and Objectives of the Study of...

Discuss the nature, scope and objectives of the study of Criminology. Crime has always accompanied mankind. The oldest order available to us today, like provided in the cave paintings in France and the old books as the Bible show that this was not a stranger to us hundreds or even thousands of years ago. We can even with these materials to draw a conclusion that the development of civilization has contributed to its creation. The formation of increasingly larger clusters of human foster the development of crime, as well as the presence of various types ranging from murder, to stealing and minor offenses. To prevent this, most ancient civilizations has already begun to develop legal codes to protect not only citizens but also to advise†¦show more content†¦The whole activities are strongly connected with internal mental process. The second theories are little bit different. They see that internal mental process can be affected and even altered by certain factors in the environment which either reinforce or discourage the behavior. The both groups of theories are really not strong divided but there may be some exceptions. Psychology is one of the most important pillar in understanding criminal behavior. The second one is sociology. To help criminology in this case sociology is mostly concentrated on areas which influenced on criminalists such as the environment, poverty and unemployment. Based on those areas there were created two sociological theories: ecology and, poverty and unemployment. Those theories relate criminality to â€Å"objective† social and economic facts. They trying to prove that crime is statistically related to poverty or wealth distribution, or to social disorganization. Both psychology and sociology are magnificent help in understanding criminal behavior but it also helps prevent crime. And that is the next most important thing in study criminology. There may be a lot of causes which create crime but when we know them it become easier to prevent them. Criminology as a science has identified in number of classification. We can classify it as Neo Conservative Criminology, Liberal Cynical Criminology, Liberal Criminology or Radical Criminology. NeoShow MoreRelatedScientific Method and Criminal Justice1813 Words   |  8 Pages | Copyright  © 2010, 2009 by University of Phoenix. All rights reserved. Course Description Students learn and demonstrate knowledge of research methodology within the criminal justice system and become acquainted with the range and scope of quantitative and qualitative tools available to the criminal justice researcher. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: Read MoreEffectiveness of Pccr Review Center19276 Words   |  78 PagesEFFECTIVENESS OF PHILIPPINE COLLEGE OF CRIMINOLOGY REVIEW CENTER A Thesis Presented to the Faculty College of Criminology Philippine College of Criminology In Partial Fulfillment Of the Requirements in Criminological Research and Statistic Leading to the Degree Bachelor of Science in Criminology BY: Section:4-B2 MYRA M. EVANGELISTA CHRIZAN KARL T. GARCIA MELJHON D. OBEJAS ANTHONY Q. AMORES WELMAR C. GABINETE APPROVAL SHEET This thesis entitled â€Å"EFFECTIVENESS OF PHILIPPINE COLLEGEOFCRIMINOLOGYRead MoreEssay on Criminology - Advanced Surveillance3236 Words   |  13 Pagesto assess their efficacy and evaluate the impact such studies have had on overall proliferation of these systems. Illustrate your answer by reference to both official reports and academic and NGO studies supporting or contradicting such claims. This essay will aim to critically discuss CCTV cameras as a proven method of crime control and prevention tool. In order to analyse academic, official and Non Government Organisation (NGO) studies, it is important to consider the rise of CCTV. CCTV isRead MoreFactors That Affect the Communication Skills of Criminology Students9253 Words   |  38 Pagesconveyed, the choice and arrangement of words, the message sent through body language and the tone, pacing and voice volume. In legal term, communication is vital in achieving the goal of voluntary compliance with the law. Criminal justice and criminology workers must be able to articulate this action and reasoning to the public in order to exhibit support. In other words, communication attached to every person’s character is considered as our personality, especially in writing which is one ofRead MoreEssay about Risk Based Bail System in Nsw5032 Words   |  21 PagesQ. ‘The bail legislation of Bangladesh is more focused on justification rather than risk based approach’-discuss this statement and give a comparative description in this regard between Bangladesh and New South Wales. I. INTRODUCTION In the discourse of criminal justice system bail is one of the arenas which not only generates a huge adherence but also a significant assumption. There are lot considerations take into place when the question of enlarging bail is comes into existence. The court orRead MoreWe Must Put More Human, Material And Electronic Resources Into Intelligence The More Problem Of Terrorism4376 Words   |  18 PagesDiscuss the proposition â€Å"If we could put more human, material and electronic resources into intelligence the more problem of terrorism would disappear. Enhancing Intelligence Management, Developing Community Resilience FAHD PAHDEPIE Terrorism is an evolving and multifaceted phenomenon (Lentini, 2003). Although there is no single definition that is received full approval from academic and governmental circle, most scholars and practitioners believe that the key idea of terrorism is a politicallyRead MoreResearch Report on Impact of Time Management11320 Words   |  46 PagesCHAPTER ONE INTRODUCTION 1.1 Background to the study The public image of the police is measured a number of different ways. Sometimes surveys ask about â€Å"local† police, police in â€Å"your neighborhood† or police in â€Å"your area,† while other surveys ask about the police as a general institution. The terminology used to gauge public support also varies widely, with questions asking about whether respondents â€Å"approve of† or â€Å"trust† the police, have â€Å"confidence in† or â€Å"respect for† the police, or whetherRead MoreLaw, Not A Court Of Justice3077 Words   |  13 Pagesthe foregoing establishes whether a connection exists between law and justice. The question as to whether â€Å"justice is part of the law or merely a moral judgment about law† has troubled legal and political philosophers. The scope of this essay is to use critical lens to discuss Justice Oliver Wendell Holmes’ famous words â€Å"this is a court of law, young man, not a court of justice,† in the context of the Australian court system. An overview of the Australian court system A criminal justice systemRead MoreCommunity Oriented Policing : Community Policing5820 Words   |  24 PagesCommunity-Oriented Policing Community-Oriented Policing Zachary Buccola: G00828826 Crim 480- Voreas DATE HERE Introduction In 1994, the Office of Community Oriented Policing Services (COPS) was created by the government with the objective to assist police agencies in strengthening public relations and safety through community oriented policing, also known as community policing (USDOJ, 2014). COPS defines community policing as, â€Å"a philosophy that promotes organizational strategiesRead MoreConstruction Industry15894 Words   |  64 Pages. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Defining the Problem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 The Nature and the Scope of the Problem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Risk of Break-ins and Builder Security . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The April 2010 BP Horizon Oil Spill in the Gulf of Mexico

These two studies investigated the effects of the April 2010 BP Horizon oil spill in the Gulf of Mexico, and the observable effects that it has had on coral reef and salt marsh ecosystems. The study conducted by White investigated nine coral communities six months after the spill using ROVs. In an area 11 km west of the spill site, the researchers studied scleractinian, gorgonian, antipatharian corals and found many that were covered with floc, a brown flocculent material, that is linked to coral tissue damage and mortality. The study conducted by Silliman et. al. investigated the oil spill impacts on the salt marshes lining the Louisiana coast. Silliman and his team identify oil spills as one of the most damaging forms of pollution due to their unpredictable nature and associated lack of readily available tools and resources that would be needed to restrict their impact on nearby ecosystems. The team studied salt marshes located in Barataria Bay, LA which was one the regions that ex perienced some of the most extensive oiling from the spill. The team investigated the current status and future impacts of the spill on the marshes. Past data revealed that negative impacts on marshes could be corrected with plant re-growth and oil degradation that naturally occurs with time, and at even faster rates in warmer climates, which provides a hopeful outlook for the LA region. In addition to the direct effects of oiling, the team also analyzed the geomorphic effects that may be aShow MoreRelatedBp Oil Explosion in the Gulf of Mexico1412 Words   |  6 PagesOn April 22 2010, the World faced one of its worst oil spill disasters in the history of marine petroleum exploration. A deadly oil well blowout at Macondo Prospect, about 41 miles off the southeast coast of Louisiana, spewed huge quantities of oil for 87 long days causing major environmental and economic troubles to the Gulf region (Gulf of Mexico Oil Spill). It started with a fire and explosion, killing 11 workers, and then unleashed a slow motion disaster that spread across the 600 mile gulfRead MoreEthical Dilemma with the Bp Oil Spill1125 Words   |  5 PagesThe BP oil spill, more famously referred to as the Deepwater Horizon Spill, occurred in 2010 in the Gulf of Mexico and flowed unmitigated for as long as 3 months. The BP oil spill has fared as the largest marine oil spill ever confronted in the history of the petroleum industry. The oil spill on the 20th of April 2010 was primarily the result of a gas release followed by an explosion in the Deepwater Horizon oil rig, in the Gulf of Mexico, established on the Mocando exploration well designed forRead MoreBritish Petroleum and Its Corporate Strategy1595 Words   |  7 Pagesthat British Petroleum (BP) adopts with specific focus on the Deep-water Horizon offshore oil spill in the Gulf of Mexico in April 2010. BP will be assessing using varied strategic theories and strategic choices will be suggested. It is commissioned for Carl-Henric Svanberg, BP s chairman. Brief Company Profile BP is the third largest energy producers in the world. The business is integrated in finding, extracting and supplying oil, gas and petroleum. BP was privatised in 1980 sRead MoreBritish Petroleums Crisis Handling Practice1113 Words   |  5 PagesINTRODUCTION In 2010 British Petroleum’s Deepwater Horizon oilrig1 suffered a devastating explosion that resulted in the death of 11 workers and initiated the largest marine oil spill the world had or has ever seen (Pallardry). This spill also became the largest offshore environmental disaster in United States history (Elliot). Over 200 million gallons of crude oil were pumped into the Gulf of Mexico (Hoch), polluting over 16,000 coastal miles in the states of Alabama, Florida, Louisiana, MississippiRead MoreThe Legal Issues and Ethical Effects of the Deepwater Horizon Explosion and British Petroleum Oil Spill in the Gulf of Mexico 20101542 Words   |  7 PagesBP Gulf Oil Spill 1 Running Head: BP GULF OIL SPILL The Legal Issues and Ethical Effects of the Deepwater Horizon Explosion and British Petroleum Oil Spill in the Gulf of Mexico 2010 Terry D. Bollman Park University BP Gulf Oil Spill 2 British Petroleum’s Roll in the Gulf Oil Spill This paper will explain some of the effects of three legal issues and three ethical issues surrounding the London-based British Petroleum Company’s involvement in the explosion of the offshore oilRead More Impact of the Deepwater Horizon Oil Spill on the Environment1549 Words   |  7 PagesThe Deepwater Horizon spill occurred on 20 April 2010 and was caused by an explosion on the Deepwater Horizon drilling rig that killed 11 workers and injured 17 more. The drilling rig, located 66 kilometers southeast of the Louisiana coast, left an oil gusher that was finally capped on July 15, almost 2 months later. This was the largest accidental marine oil spill in history and the largest offshore environmental disaster in the United States (Telegraph, New York Times, BBC News). It is estimatedRead MoreBusiness Ethics. 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The Deepwater Horizon was a semi-submersible offshore drilling rig owned by Transocean. Built in 2001 in South Korea by Hyundai Heavy Industries the rig was leased to BP fromRead MoreThe Horizon Oil Rig Explosion1416 Words   |  6 Pages The 2010 Horizon Oil Rig Explosion On April 20th, 2010 an explosion occurred that would be considered one of the worst oil spills in U.S. history. The explosion was cause by a surge of natural gas that made it way to the Horizon rig’s platform that ignited. This caused the rig to capsize and sink, thus breaking risers that were being use to counter act the large amount of pressure from oil and natural gasses (Pallardy, 2015). The explosion killed 11 workers and injured 17 others. 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Learn In Private Institutions In Getting Job Education Essay Free Essays

string(81) " purchase all installations for the instruction and larning procedure by itself\." The current issues in instruction presents which is about the chance of pupils that learn in private establishments in acquiring occupation have been discuss and we look this issues as an of import issues in our instruction in Malaysia. First of wholly, private instruction can be defined as an instruction where parents need to pay for instead than free instruction that was provided by the authorities. It is besides known as an instruction that was provided by a private person or organisation, instead than by the province or public organic structure. We will write a custom essay sample on Learn In Private Institutions In Getting Job Education Essay or any similar topic only for you Order Now It means that it is non operated by the authorities. Private instruction frequently occurs among people who have high economic system position. It has many private instruction establishments in our state and this instruction establishments is classified as private because it is controlled and managed by a non-governmental organisation like Church, Trade Union or concern endeavor or its Governing Board consist largely of members non selected by a public bureau. Normally this establishment was established by the alliance of corporate organic structures which make an investing towards these establishments. But many private establishments receive public subsidies particularly in the signifier of revenue enhancement interruptions and pupils loans from the authorities. In the early 1990s, there were about 200 private colleges but no private university. But in 2011, there is exist 53 private universities including private university colleges, 6 foreign university subdivision campus and more than 500 private colleges. From this information we can see that the figure of private establishments increasing quickly from twelvemonth to twelvemonth. The figure of private university is higher when we compared it with the public university. We can see the dumping of private establishments in our state compared to public establishments. Approximately 50 % of the state ‘s entire third pupil ‘s enrolment population is in private higher instruction establishments. The addition in enrolment population within private higher instruction establishments demonstrated in reeling rise from merely around 15 000 in 1985, to merely approximately 35 000 in 1990 and merely over 320 000 in 2005. The rank of private establishments can be classified based on its grade. Tier is known as a degree of one establishment is ordered. It has six grades where tier 6 is the highest degree and tier 1 is the lowest degree. Tier 6 is known as outstanding and none of the private university in our state is classified in this grade. While for tier 5 it is classs as an first-class grade for illustration University Kuala Lumpur, University Technology Petronas and many more. AIMST University and University Tenaga Nasional is the illustration of university that in the grade 4 which is classified as really good. Tier 3 is classified as good and College University Insaniah is one of the universities in this armored combat vehicle. For tier 2 it is known as satisfactory and tier 1 is weak. It besides has private stitutions that are non rated and it is because they do non hold a specific topographic point or their ain edifice to do as a category. So it is difficult for the authorities to give them th e grade. DEFINES THE ISSUES PROBLEM FACED BY PRIVATE INSTITUTIONS It has many jobs that private establishments need to confront in term of fixing alumnuss, provide the installations and serve the preparation to the pupils. It is because private establishments are to the full operated by their ain organisations without the assisting from the authorities, so they need to happen their ain solutions to give the best services to their pupils. Students that enter to these establishments deserve to acquire the best services as they pay the expensive tuition fees. Therefore, private establishments decidedly faced the job in supplying quality services to their pupils. The chief job that private establishments normally faced is in fixing the alumnuss. They have job in prepared alumnuss that are able to vie globally and have entrepreneurship accomplishments in the universe of work. As we know in public establishments, pupils require to take the topic for entrepreneurship. It is because to supply pupils to be an enterpriser in instance that if they finish their surveies and they still did non acquire work, so they can utilize the cognition that they learn to construct up their ain concern. But in private establishments, these topics are non provided and non compulsory to the pupils to take this topic. So it is one of the jobs that were faced by the private establishments in fixing good and quality alumnuss. Besides that, private establishments besides have jobs in fixing alumnuss that have good communications accomplishments. As we know, normally many pupils that enter to the private establishments have low academic accomplishment and they do non acquire an offered to come in the public establishments and that ‘s why they go to the private establishments. When they have low accomplishment in academic it is difficult to develop good accomplishments among them compared to high achiever pupils. It is difficult for the lector to construct a good communications accomplishments among them. Students in private establishments besides lack of moral values and subjects. It is difficult for the establishments to training pupils because the regulations and ordinance is non excessively tight. Students are free to have on the apparels that they like and they can come in and jump the category whenever they want. Private establishments did non care about their pupils ‘ attending and how their pupil frock. Because of that, the alumnuss from private establishments will miss of moral values compared to public alumnuss. They besides lack of subjects because they can make what they want and like in this private establishments that they pay for. The 2nd job that private establishments normally faced is in term of installations. They can non supply adequate installations for pupils and this is because their disbursement was non plenty and they need to purchase all installations for the instruction and larning procedure by itself. You read "Learn In Private Institutions In Getting Job Education Essay" in category "Essay examples" When they have unequal installations it will do their acquisition procedure non running swimmingly and teacher can non give their best services to the pupils. Facilities besides the large job that private establishments should confront because equipment for acquisition is really of import for pupils ‘ amenitiess. Private establishments can non supply plenty installations because of unequal fiscal. In add-on, pupils besides need to portion the lab installations when they are making some research. It will do pupils experience uncomfortable when they need to portion the equipment with their friends. Besides that, pupils besides will miss of accomplishment when they can non make their research by their ain. It besides will restrict pupils ‘ activities for illustration in making research and as we know lab installations is of import for us to carry on some experiment. For pupils in higher establishments they need to carry on a research to do their acquisition procedure more effectual and to do them more understand about some subject but when private establishments can non function adequate installations, their pupils larning will be limited. Financial job is besides the chief factor why private establishments can non supply plenty lab installations to their pupils because of the expensive monetary value for lab installations. Besides that in some private establishments it besides has little categories. Classroom is the perfect topographic point for the bringing of instruction and larning straight from the trainers to the pupils. However, the extent of available comfort and the environment can excite pupils ‘ attending and credence towards the instructor. The issue of pupils overcrowding and excessively many pupils in a schoolroom are the job that private establishments encounter. Sometime in one category it needs to suit and provide many pupils and it will do pupils experience uncomfortable during their learning procedure. Some private establishments merely have a little edifice for their establishments and they merely have really limited category. Because of inordinate consumption of pupils, the category for the pupils is non plenty and they need to turn up many pupils in a little category. In this instance to cut down this job, private establishments should restrict their pupils ‘ consumptio n and supply more categories for the acquisition procedure. Some private establishments do non hold adequate topographic points to apportion category because of little edifice. The 3rd job that private establishments face is in term of preparation. Most lectors and staff in private establishments have less making and experience compared with the public establishments ‘ lector. Lecturer that was hired in private establishments normally less of instruction technique and some of them do non hold making in learning classs. Lecturer in private establishments normally merely have degree making and merely a few of them that have maestro ‘s making. When they do non hold making and less of instruction technique, their instruction will be less effectual compared to the lectors from public establishments. Private establishments are hard to engage the quality instructors because many instructors fear that there are non unafraid if they work in private establishments. They more prefer to work in authorities sector compared with the private sector because authorities will give them more benefits. Besides that, private establishments besides can throw out them any clip they want. That is why merely the instructor that do non acquire arrangement in authorities want to works in private establishments because of no picks. Some private establishments need to engage instructors that have low makings because the deficit of instructors. When they have less making instructor, pupils besides will acquire less accomplishment. The lector in private establishments besides ever changed several clip for one topic. This is because, there are portion clip lectors in these establishments and frequently have concern to cover with. So a replacing lector will come in alternatively. Sometimes public establishments need to engage the teachers that make a instruction profession as their portion clip occupation. So, the interchanging instructors ever go on and this is the job that private establishments need to confront. Normally, instructors who work half-time in private establishments are merely to gain excess income. Private establishments need to take this type of instructors because of the deficit of instructors ‘ job that they face. Some of the alumnuss from universities besides tried to acquire a occupation as a instructor in private establishments because they know that the demand to be a instructor in private establishments is easy. They normally come from the fresh alumnuss that have no experience in le arning. In add-on when the instructors ever change, it will do the acquisition procedure non goes swimmingly and pupils will be confused due to many instructors with different learning technique. The preparation besides one of the job that need to faced by the private establishments in footings of provide a making and experience instructors. Current WAY TO ADDRESS THE ISSUES ALTERNATIVE WAY TO SOLVE THE ISSUES Based on these jobs, an alternate ways to work out the issues should be taken instantly. To get the better of the issues of the chance of pupils that learn in private establishments in acquiring occupation, the private establishments and the authorities should take an action. Private establishments should implements some stairss to make alumnuss that are non merely able to vie but besides able to make occupation in the universe of work. It means that, private establishments should supply a classs or plan that trained their pupils to be an entrepreneurship like entrepreneurship classs like the public establishments do. This class will fix their pupils in instance when they finish their survey and they do non acquire work. When they have the cognition on how to construct a concern they can make their ain occupation after they finish their survey. This will avoid them from unemployment job. Besides that private establishments should supply the instruction system that relevant with the advancement of the demands from the universe of work. It means that, the course of study of instruction that was provided by the private establishments should suitable with the universe of work presents. Private establishments must fix their pupils to hold a good communicating accomplishment and can get the hang English good. When their pupils have a good communications skill it will give them chance in acquiring occupation compared with the pupils that can non get the hang English good. Because we know that, English is really of import in our universe of work presents. Private establishments besides should guarantee that the classs offered acquire acknowledgment by the authorities. This is because when the classs that were taken by the pupil did non acquire acknowledgment by the authorities, it is difficult for the private establishments ‘ alumnuss to acquire work due to non recognized grade. Private establishments should do certain that all the classs that were provided acquire the acknowledgment foremost by the authorities. Companies normally do non desire to engage alumnuss who have making which is non recognized by the authorities. In order to bring forth alumnuss that have good communications accomplishments, private establishments should supply well-trained lector to learning at that place. They can non engage the instructor harmonizing to the demands but they need to take the best lectors that have making. This is because, pupils that study in private establishments pay for it and they deserve to acquire the best services compatible with the money they spend for it. To bring forth good pupils we need to supply good instructors. Courses on calling planning should be held for alumnuss in assorted Fieldss in order to make a well-trained human capital. Private establishments should be after some classs for their pupils in order to supply a quality graduates in the work field. For illustration they organize a plan like Career and Training Fair for their pupils. Program like this will present them on how to fix for the occupation interviews. Some of them will acquire cognition from this plan. Government besides should take an action in order to work out these issues of acquiring occupation among pupils in private establishments. Government should restrict the gap of private establishments in our state. This is because excessively many private establishments that were set up and for certain graduation from private establishments besides increases. To avoid excessively many unemployment alumnuss, authorities should restrict the blessing from private bureaus to open their private establishments. We can see today the dumping of private establishments in our state compared with the public establishments. The consumption of pupils to come in private establishments besides should be limited in order to work out the issues of unemployment alumnuss. Government should issues the figure of pupils that can be taken by private establishments each twelvemonth so they know how much pupils they can take. Private establishments should take the pupils based on the conditions specified by the authorities. Besides that, authorities should guarantee that private establishments take the qualified teacher to work at that place. Government should put the conditions required by all universities in order to take their teacher to learn at that place. If they take a qualified and experience instructors, they besides will supply best pupils from their establishments. Decision How to cite Learn In Private Institutions In Getting Job Education Essay, Essay examples

Critically Review - Capital Structure and Business Valuations

Question: Describe about the Case Study for Critically Review ,Capital Structure and Business Valuations? Answer: Dividend Policy of a firm has no relevance to the value of the firm. Miller Modigliani 1963 The above statement signifies that value of a firm depends entirely on the investment decisions as well as dividend policies in detailed form. The scholars pointed out that impact on specified dividend policy enhances means of financing for sale of new equity sales. Assumptions Investors do not pay much attention on the kind of dividends received from capital gains income as well as dividend income for the same. There is no issuance cost Organization does not pay for the issuance costs and new securities by obtaining required equity capital at similar costs. This reveals that organization pay for the past earnings and retains the dividends in an effective way (Avadhani 2012). Dividend payment results from regular pay of stock. It influences existence of investment policy for future analysis purpose. From the perspective of Miller and Modigliani, investment policy of an organization affects the dividend policy. From the theory on dividend policy, it is understood that existence of investors favours dividend policy for substantial impact in shared values. It mainly identifies alteration ways in dividend policy and end up losing stakeholders of other entities (Balla 2012). This approach leads to temporary reduction for the prices in organization stock. It is noticed that investors with preference of new dividend policy perceives undervalued entity and purchasing new shares (Fabozzi and Peterson Drake 2013). These transactions take place in an instant manner for carrying costs to the investor for the same purpose (Baltazar 2012). There is no change in the value of stock as well as net income from the assumptions on dividend policy of an organization. Gordons Theory on Dividend Policy is one of the famous theories that believe in the relevance of dividends concept. It mainly states the current dividends for determining the correct value of firm. This is the mathematical model for calculating the market value for using the dividend policy. This particular model relates directly with market value of company in relation with dividend policy for the same. Market Value determinants share the perpetual stream for payment of future dividends. It expects the cost of capital as well as expected annual growth of business enterprise in an overall manner. Walter Model shows clear relationship between the Cost of Capital, Internal Rate of Return. It mainly determines dividend policies for maximization of wealth from shareholders. On critical analysis, it is noticed that Walter Model shows usefulness from the effects of dividend policies. It relates with all equity firms under various assumptions for rate of return. It simplifies the nature of the model as well as lead to various conclusions in an overall manner. Walter Model enables mixing of share valuation as well as dividend policy for enabling investment decisions of the firm. This particular assumes various investment opportunities for financing retained earnings as well as no external financing debt or equity. It is noticed that wealth of the owners maximizes optimum investment in the most appropriate way. On critical analysis, it is revealed that Miller and Modigliani notes empirical evidence for suggested changes with regard to dividend policy and stock price influence. Most of the firms prefer policies at stipulated reasonable ways as well as stable dividends for future analysis purpose (Barrow 2011). Increased dividend policy displays specified types of information and anticipation of higher earnings in the near future. Dividends help in conveying reliable information that mainly concerns earning prospects of the firm (Finch 2012). This particular theory conveys the information content on dividend policies and influences share prices for specified dividend payments in an overall manner (Baxter 2012). It is important to compare three main theories on dividend policies. These theories plays important role in the financial management for future investment policies by business firms. In order to under the important and relationship, these theories give brief explanation on advancement of dividend policies. On critical analysis, it is noticed that Walter Model assumes optimization of owners wealth with efficient investment policies. On the Contrary, Gordon Model establishes dividend capitalization in relation with market value of each share. On the other hand, MM argues for internal as well as external financing equivalency in an overall manner. These three theories differs each other with large extent but are useful in many ways for smooth functioning of business firms. In the real world, dividend policy is relevant to a firm value From the real-life scenario taken from Imperial Tobacco, it is noted that the company plans for current dividend policies by increasing the payout ratios. It relates directly with dividend per share continues for steady growth as well as adjusted earnings per share in the near future. From the above statement, it is revealed the essence for bringing changes in regard with dividend payments. It helps the investors for evaluating the management attributes for matters relating to cash flow as well as future earnings of an organization (Bekaert and Hodrick 2012). From the management perspective, it helps in perceiving full access for information concerning the profitability of particular organization. It influences existing as well as potential investors for final decision-making process (Gapenski and Pink 2013). It is assumed that changed dividends helps in perceiving unambiguous indicators for availing future prospects of business enterprise. It reveals the information and related methods like management presentations on security as well as annual reports on changed dividend policy in the most appropriate way (Brigham and Daves 2013). It mainly provides signals to the investors regarding changed dividends and other related capital structure for the same. From the perspective of investors, it is noticed that level of dividend payments plays an important role in the real world scenario. Dividend stability helps in building positive image for the business organization (Brigham and Houston 2013). Company managements should understand that dividend payment uncertainty gives rise to creation of poor dividend policies and alienate with potential as well as existing investors. Unstable dividend payments greatly affect the perceptions of the investors on matters relating to performance of the organization especially in financial markets (Brooks 2013). These approaches may influence investors in final decision-making process regarding invest or divest in business organization. The above statement by Miller and Modigliani (1961), it fails to hold true sense in dividend policies and give rise to negative ramification on value of business enterprise. It is important to understand the fact that dividend represents in negative form over the cash flow of an entity for the same (Corelli 2014). On the contrary, special dividends mainly affect the value of the firm either positively or negatively. It influences main reason for issuance of special dividend for the same. For instance, value of firms affects special dividends for consisting payouts especially for early investors. It influences derivation from operating cash flows for recouping of sections for investment decision-making process in an overall manner. It is suggested that firm possess ability for operating more cash investment in the most appropriate way (Davies and Crawford 2012). Special dividends consisting of cash achievement from debt and advantage methods affect value of the firm. It is argued that cash flow of a firm has the capacity for covering the interest payments and worrying regarding the financial distress for the same (Greene and Dince 2013). Value of a firm gets affected by special payouts and aiming at reduced cash and cash equivalents for the same. It influences the payout ratio and comparison with balance sheet statements in an overall manner (Edmonds, McNair and Olds 2013). It is suggested that firm needs project confirmation and generating at reasonable returns for smooth functioning of business enterprise. Special dividends mainly occur when payouts are related with stock in comparison with cash attributes (Elliott and Elliott 2013). Addition to that, it offers overvalued stocks and artificially increased EPS for making changes in the business operations. In order to conduct relevancy on the dividend policy, it introduces models for incorporation of dominant determination in the near future. This particular model formulates undertaking of sample consisting 28 corporate entities in US in the year 1950 (Eun and Resnick 2012). Qualitative research conduction involves interviews from CEO and CFO of various firms in and around US. After conducting research, it is understood that establishment of dividend policy possess an active factors in the real world scenario. Most of the managers believes in stable dividends and remains effective in reduced negative perceptions among the investors (Grieve 2013). It is observed that a dividend payment as well as retained earnings adds to the by-product of dividend policy in an overall manner. It mainly emphasizes on active determinant on dividend policies and requires majority of shareholders for future analysis purpose (Fabozzi and Peterson Drake 2013). Author establishes the fact that managers should believes in investors and stable dividend pattern for market put premiums for harboured stable dividend policies. Most of the scholars claim that shared values influences earnings division for retention as well as dividends for the same. It involves preposition by MM and conduction of restrictive assumptions for future analysis purpose (Fabozzi and Peterson Drake 2013). It is noted that dividend policies for majority of shareholders and preference for dividend policies in an overall manner. It is explained the shareholders possessing risk includes preference dividends and promises future capital gains. On the contrary, consistent dividends provide certainty functions by the investors in the most appropriate way (Greene and Dince 2013). Reduced dividends ensure uncertainty among investors and making discounted future earnings for the business organization. Failure in paying the dividends influences increased uncertainty among the investors for future analysis purpose (Grieve 2013). This will lead to low share prices as well as rise in the discounted rates. It is important to consider the fact tha t transactions cost by the investors mainly implies receiving capital gains as well as cash dividends (Harrison 2014). Business and Financial Risks faced by Imperial Tobacco Financial Market Risk - Imperial Tobacco faces significant level of committed debt, debt capital markets as well as bank loan markets for the same. It expects various required financing for matured debt policies and obtaining markets for checking on the availability of funds. It relies on funds from various bank counterparties in an overall manner. It is noticed credit ratings fall due to rising cost of committed funding in Imperial Tobacco. It requires future funding and it affects rising debt issues from breath of funders. Groups Debt raises 44% of fixed levels of interest including high funding costs. It affects the cash outflows that need consideration on urgent basis. It is important to understand the fact that Imperial Tobacco faces number of business as well as financial risks in business (Kapil 2011). These risks are not limited to social risks, financial risks as well as environmental risks. It is revealed that illegal circulation of tobacco products negatively affects tobacco industry. Addition to that, it ensures conduction of anti-smoking campaigns for health authorities and related policy makers for the same. It mainly discourages the clients in engaging in behaviour patterns. It is noticed that tobacco advising indicates highly restrictive in nature (Kemp and Waybright 2013). Anti-tobacco advertisements help in developing positive attitude that smoking is unpleasant as well as unhealthy constraints. It is understood that increased prohibition for smoking in public places (Horngren, Harrison and Oliver 2012). Most of the people discourage smoking where they find location like smoking zone. Company Management acknowledges present level of uncertainty for experiencing in financial markets. It involves problems in counterfeiting for markets in Nigeria (Lorente and Lorente 2013). Most of the people found that replication of company products affect the extension of customers. It differentiates between genuine as well as illegal products for the same. It negatively affects the sale of related company products in an overall manner. Rogue importers include Rizler papers for increased targeting in Senegal (Madura 2012). It enhances the counterfeit products like booklets and keeps lower priced products for Imperial Tobacco. Most of the products show availability in major cities and towns foe saturation points with Imperial markets in fake products for the same (Kapil 2011). This particular approach hampers the performance as well as profitability growth for the business enterprise in the most appropriate way (Needles and Powers 2012). Recent Financial Performance of Imperial Tobacco Profitability Ratio of Imperial Tobacco Imperial Tobacco Profitability Ratio Gross Margin Ratio 2014 2015 Gross Margin $18,036,883 $20,587,576 Net Sales $21,864,478 $25,276,809 82.49400237 81.44847714 Profit Margin 2014 2015 Net Income $1,456,883 $1,877,741 Net Sales $21,864,478 $25,276,809 6.663241629 7.428710641 Return on Assets 2014 2015 Net Income $1,456,883 $1,877,741 Average Total Assets $16,902,088 $20,421,712 0.086195445 0.091948266 From the calculation, it is noticed that Gross Profit Ratio arrives at 82% in the year 2014 and 81% in the year 2015. It implies decreased gross profit ratio enabling smooth functioning of business enterprise. Net profit ratio arrives at 6% in the year 2014 and 7% in the year 2015. It should make ways in increasing the overall profit by way of maximization of net revenue in an overall manner. Shareholders Equity Return on Equity 2014 2015 Net Income $1,456,883 $1,877,741 Shareholder's Equity $2,814,518 $4,265,359 0.517631438 0.440230471 Shareholders Equity arrives at 0.51 in the year 2014 and 0.44 in the year 2015. It implies decreased equity share for checking future business activities. Imperial Tobacco believes in purchase of shares especially from buyback programme and detainment for shareholders deduction funds for future analysis purpose (Baltazar 2012). It involves purchase group of 867000 shares costing 182 millions in an overall manner. Imperial Tobacco deals with creating values as well as meeting the strict criteria for acquisition purpose. It involves buyback program for finding suitability for business activities (Barrow 2011). From the general perspectives, company believes in paying special dividend for supply funds in single instalment. For instance, management opts for disposing some part of business and generates surplus funds for given time. Debt capacity of the business and sources of financing available to Imperial Tobacco 2012 2013 2014 2015 Long-term Debt $4,028,538 $5,011,640 $5,488,591 $8,299,328 Total Equity $1,900,207 $2,972,081 $1,664,741 $2,023,128 Debt/ Debt+ Equity $0.68 $0.63 $0.77 $0.80 From the above analysis, it is easy to understand debt to equity ratio should be minimized as far as possible. It arrives at 0.80 in the year 2015 that needs urgent consideration by Imperial Tobacco. From the annual report of Imperial Tobacco, it is revealed that the company had achieved consistent increase in debt capacity from the year 2008. It helps in attribution kike acquisition of Atladis from early 2007 (Baxter 2012). It mandates undertaking of large borrowings for future analysis purpose. Debt accumulation involves subsequent valuation of the shares of business organization in an overall manner. Imperial Tobacco faces gradual decrease in reduced debt in faster manner over the past few years (Bekaert and Hodrick 2012). It is important to understand the fact that main sources of financing involves sale of shares in Imperial Tobacco. This concept helps the company in creating shared values with shareholders in the near future (Brigham and Daves 2013). One of the other sources of financing involves derivation from sale of diverse brands for future analysis purpose. It is noticed that market management involves good generation of profits. It helps in prioritizing companies responsible for positive returns for growth purpose. It mainly influences various product markets like fine tobacco, paper as well as cigar and smokeless tobacco (Brigham and Houston 2013). These diverse brands mainly records generation of positive returns as well as account for more than 12% of the total tobacco revenue. Imperial Tobacco commits policies for adequate funding and committed bank facilities. It enables meeting foreseeable borrowing needs in the peak period (Brooks 2013). It is noticed that acquisition of certain assets involves brands for entering into committed bank facilities for future analysis purpose. It mainly involves credit facilities as well as term loans for the same. It is important to understand the fact that Imperial Tobacco should generate cash acquisition for smooth functioning of business enterprise. Acquisition of fixed assets and updated technology helps in solving the issues in the near future (Paramasivan and Subramanian 2014). Recommendation on an capital mix of Imperial Tobacco It is advised that Imperial Tobacco should conduct best optimal mix that includes proposition of debt to equity ratio. This optimal mix helps in maximizing the shared values of particular business organization (Corelli 2014). Imperial Tobacco should offer balanced debt for the range of equities and ensuring minimization of cost of capital for smooth functioning of the business activities. It is recommended that Imperial Tobacco focus mainly on optimal capital structure because it ensures great deal of attention (Davies and Crawford 2012). It should help in maximization-shared values of the shareholders of Imperial Tobacco. This particular company should value processing equity as well as reduced debt for attaining future goals as well as objectives for the same. It helps in reducing equity amount among the available returns for improving the shareholder pattern in the near future (Edmonds, McNair and Olds 2013). It mainly creates favourable image and changed perceptions of the invest ors under Imperial Tobacco. It involves open market policies as well as adjusted earning per shares for future analysis purpose. It is recommended that Imperial Tobacco should engage in generating cash as well as harbours for responsibilities (Elliott and Elliott 2013). It enhances significant debt amount for consultation in the near future. It should involve in providing excessive optimal mix strategy especially for the investors as well as shareholders in the most appropriate way. This particular company should establish reasonable mix of equity for the main structured decisions in an overall manner (Eun and Resnick 2012). Imperial Tobacco should endeavours constant dividend policies as well as dividend payout ratios for analysis purpose. It is advised for proper allocation resources in the near future. It is recommended to Imperial Tobacco for reducing debt amount and increased equity shares for the same. It will help in smooth functioning of business enterprise for the same. Reference List Aamer, M. (2013).Microsoft Dynamics AX 2012 Financial Management. Packt Publishing. Avadhani, V. (2012).International financial management. Mumbai [India]: Himalaya Pub. House. Balla, D. (2012).CLEP financial accounting. Piscataway, NJ.: Research Education Association. Baltazar, E. (2012).International GAAP 2012. 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