From an isolationist nation to a global power essays

From an isolationist nation to a global power essays During the late 1800's and the early 1900's the United States saw historic changes in the way it approached world problems. Before this time period the United States had remained for the most part, an isolationist nation. The changes began as the century neared closing and were historic in their nature. One of the most important contributors to the break out position of a global nation for the United States was the entry into the arms race. While the past had seen concentrations on areas of building the nation to be strong and productive, this time period saw a decision to build arms and out do other nations in the world when it came to strengthening its military forces. The decision and timing of the arms race played a key role in the rise to super power that the United States experienced(ZIONISM AND voxfux.com/features/stranger_than_fiction.htm). By 1916 the world had seen several nations win wars. The Germans, Australians and Turks had been successful in their campaigns. The United States saw what was occurring around the world and realized that without strength and power it would not be long before one of the prevailing nations in the European situation would eye the states as a possible new conquest. In this mind set the administration began to push for funds to build its own military forces and make them strong and powerful(ZIONISM AND voxfux.com/features/stranger_than_fiction.htm). The navy was built up trough the building of many ships and the training of its recruits, while the other services followed suit. As this push to build American military services began the ...

Using MindMaps to Learn English Vocabulary

Using MindMaps to Learn English Vocabulary MindMaps are one of my favorite tools for helping students learn new vocabulary. I also frequently use MindMaps to think creatively for other projects that Im working on. MindMaps help us to learn visually.   Create a MindMap Creating a MindMap can take some time. However, it doesnt need to be complicated. A MindMap can be simple: Take a piece of paper and group vocabulary by theme, for example, school.   Who are the people at school?What kind of objects are in the classroom?What are the different types of classes?Which jobs do the people at school have?Which different types of students are there? Once you have created a MinMap you can expand. For example, from the above example with school, I could create a whole new area for the vocabulary used in each subject. MindMaps for Work English Lets apply these concepts to the workplace. If you are learning English in order to improve the English you use at work. You might want to consider the following subjects for a MindMap Titles of ColleaguesTitles of Customers / ClientsActions (verbs)Equipment I use EverydayMy ResponsibilitiesImportant Phrases to Use When Writing Emails In this example, you could expand on each category. For example, you could branch off categories from Colleagues to include what they do, or you could build out the vocabulary for each type of equipment you use at work. The most important factor is to let your mind guide you as you group vocabulary. Youll not only improve your English vocabulary, but you will quickly gain a better understanding of how the various items in your MindMaps interact. MindMaps for Important Combinations Another way to use a MindMap for vocabulary is to focus on grammar constructions when creating your MindMap. Lets take a look at verb combinations. I could arrange a MindMap using these categories: Verbs Gerund (ing form - doing)Verbs Infinitive (to do)Verbs Pronoun Base Form (do)Verbs Pronouns Infinitive (to do)   MindMaps for Collocations Another vocabulary activity that MindMaps can really help with is learning collocations. Collocations are words that are commonly used together. For example, take the word information. Information is a very general term, and we have all sorts of specific types of information. Information is also a noun. When working on collocations with nouns there are three main areas of vocabulary to learn: adjectives/verb noun/noun verb. Here are the categories for our MindMap: Adjective InformationInformation NounVerb InformationInformation Verb You can expand this MindMap on information further by exploring specific collocations with information used in specific professions. The next you start focusing on vocabulary, try to start using a MindMap. Start off on a piece of paper and become used to organizing your vocabulary in this manner. Next, start using a MindMap program. This will take some extra time, but you will quickly become used to learning vocabulary with this aid. Print off a MindMap and show it to some other students. Im sure theyll be impressed. Perhaps, your grades will start improving as well. In any case, using MindMaps will certainly make learning new vocabulary in English much easier than just writing down words on a list! Now that you understand the use of MindMaps, you can download a free version to create your own MindMaps by searching for Freemind, an easy-to-use open source software program. Now that you understand how to use MindMaps for learning new vocabulary and grammar, youll need some help on how to  create vocabulary lists. Teachers can use this reading comprehension MindMapping lesson to help students apply these technics in reading to help improve comprehension.

No Title Essay Example | Topics and Well Written Essays - 1000 words

No Title - Essay Example The investment level brings the height of variation in output of the economy. When the economy is at maximum employment level, workers are capable of demanding increase in wages (Owyang, pp. 604-616). The current US economy is encouraging with more jobs created. The recent statistics shows that 295,000 job opportunities were added by February this year. It was against the prediction by many economists who estimated approximately 235,000 job increase. There is a decline of five point five percent unemployment rate in US marking the least figure since 2008. There is an improvement compared to the past year that stood at 6.7%. The unemployment figure can be used to locate the state of the economy of US in the business cycle. Considering that there is a steady decline, it is true to say US is undergoing recovery after the past crisis they experienced (Khasnabis, pp.16-25). Last month’s figures were disappointing where there was an addition of 126,000 job opportunities in US. It is an indication that market labor is ultimately tripped up by a wider slowdown in the economy. Going to the business cycle it can be focused that the economy will hit the expansion phase (Khasnabis, pp.16-25). India has gone through rapid growth since the opening up of its economy in 1991. Policies of privatization were introduced making ten percent of the people come out poverty clutch. Currently, there is hope for the nation since they have registered some economic improvement. The analysis gives the position of India compared to other poor countries for a better understanding of the changes in the economy (Khasnabis, pp.16-25). India is a weak nation. There are various measures to be used including the provided data. It can be defined in terms of per capita expenditure of calorie intake by an individual and pay back the cost of survival. Benchmarking on the statistics provided, purchasing power variability is key in

Industrialization Essay Example | Topics and Well Written Essays - 250 words

Industrialization - Essay Example The country had started as a young and weak nation with loose association of the former colonies and a traditional economy. The country had a major focus on agriculture and it was only now that the country was able move into mechanization. This had not only allowed for a bettered living situation for the normal Americans but also led to higher number of work available for the Americans as well. It was in 1851 that the change was very evident as the producers from various nations had gathered to celebrate the industrialization and this also led to higher number of jobs available for the people of the country. The American economy had emerged to become one of the largest and most productive on the globe and this had led to the major changes in the society, it led to urban population growth and rural population decline. Also the nature of the labor also changes to a great extent. The cities grew and the urban areas of the country expanded fivefold. Also there was an explosion in the gro wth of the big cities and the industrial revolution and its effects are seen even until the current day. Overall the industrialization has led to a large hop in the economy of the country along with the general public receiving a lot out of the changes as well. It has been a complete win – win situation for both the nation as well the ordinary

Adidas is one of the famous company in sporting items industry Essay Example for Free

Adidas is one of the famous company in sporting items industry Essay Introduction Adidas manager is requiring me to create and design a training program which will improve and develop their graduate employee existing skills. This report is going to target to non-graduate or college student and giving them chances to join this training program. This program is going to help trainee do their function in sporting industry Adidas Aim They are trying to build the relationship with their employee via passion, diversity. Adidas may find an excellent balance between life and work of the employee and more than that they provide an essential need for their employee such as food, drink, work benefit to encourage them which will increase business productivity Adidas Human Resource Strategy Adidas is one of the famous company in sporting items industry. At the moment Adidas are doing staff recruitment for their store which across all over the world and especially in the UK. In a past few year Adidas Human Resources Department decided to do Functional Training Program (FTP) in short- period time which giving opportunity for graduate student to get foundation and great educational qualification before for they start to become a functional professional career inside Adidas group also co-operate with internship and apprenticeships for non-graduate and student who want to work for Adidas company straight after school. We have developed on National Vocational Qualification that will contribute to the business and individual need. According to Olin and Tucker (1997) state that â€Å"National Vocational Qualification government and organisation figure out NVQ training program will develop specific profile of ability and basic knowledge of employee at any level which associated vocational area† NVQ training program focus on particular business industry or sector, it will help Adidas group to find the right employee for specific role in the sporting industry Demonstrate NVQ contribution to Adidas NVQ will also comfort organization or company decrease company cost, increase the competiveness and company productivity. Adidas group found putting resourcing in staff will change in work environment spirit and staff inspiration, much easier to recruitment staff and enhance communication in workplace. It will also make Adidas group look more professional and stand out compare to another business. In another way, NVQ are enabled to help Adidas proof to the world that business hired staff or employee has reach minimum standard quality. NVQ to individual needs NVQ programme provides the portfolio for learner or employee which help learner or employee able to learn-practical or work- the related task which helps them to develop their skills and knowledge to do a job more effectively. National Vocational training program intended to develop employee existing skills and that will improve business performance, NVQ is going to evaluate the staff able to carry out their job as indicated a set of rule in an organization, which rely on work performance. Adidas can adapt NVQ training program to improve their standard via examination. Main body NVQ training program overall design 164465275336000It has a variety of ways to get NVQ: succeeding a normal training program, blend of casual and informal or starting to have a learning approaches or just based on the past capability. NVQ framework are design to testing learner capacities in the working environment. To achieve a NVQs qualification the employee or learner have to demonstrate that there can do certain task which related to the roles or area that they apply to the company or business. NVQs training program are going to do the evaluation in a blend of courses by portfolios are going to confirm and proof that what you have done in training program and perception, an assessor will check and may give reference to the company that you can do the task that related to the business. Following by Malcom (1996) â€Å"NVQs framework system made as capability are created, course are movement and exchange are distinguished. Framework task is to provide a reasonable sorting for NVQs and facilities delivery and progres sion both external and internal of competence† NVQ are design for adult and young people who want to improve their skills to increase their work performance which will lead to build up business productivity. NVQ are set level for the learner from level 1 to level 5, in lowest level are going to aim at company operation and highest level for manager position. NVQ are suitable for people are working are in college and having a part- time job are at school are fulfilled apprenticeship NVQs training program delivery strategy Focus on employee and trainee ought to acclimate themselves with structure, substance and evaluation requirement of certificate previously planning a training program course NVQs training program is delivery to any trainee or learner in many ways which Meets the learner and trainee need and capabilities Pleased acquired qualification NVQs is going to provide to learner and trainee the other skills that not a part of the qualification but will help them improve the existing skills Literacy / language / numeracy Critical thinking and personal learning Individual and social advancement Employability Where pertinent, this could include empowering the possibility to get to applicable capabilities covering these abilities. 1651004191000 With these detail in overall design and delivery training of NVQs. This program will bring benefit to the Adidas group. This will include manage time to teaching so not spend much time or little time on teaching. If too much teaching due to costly and the material which delivery to training or learner can be confusing. Spend little time on training will not improve and maximise trainee skills. More over this training program is classify trainee or student what their aim in training and link back to business role they apply for. In addition, NVQs training program is measuring the employee and trainee by knowledge, attitude and skills. It’s going to be connect between organisation and employee. Moreover, Jim and Roger (2009) suggested that â€Å"Training program is providing individual chance to perform their task more effectively and it will help an organisation get the current target† Finally, NVQs training program may bring benefit to learner and Adidas group by motiva ting, group or personal to inspect current implementations and working environment. NVQs material and exercise support NVQs objective NVQs are cooperate with many practical organisations to become a leader in development skills. They are doing services to training suppliers, employers and learner over an assortment of sector to satisfy the need in workplaces. NVQs certificate or capabilities are estimated by employers all over the world, helping people to build up their talented and capacities for profession career. NVQ Training plan The NVQs is aiming to the employee of Adidas who contributes to the work performed. As, Mayo (2000) â€Å"training plan may have added by Human Resource Department purpose, weigh into the advantages of an individual group in particular organization†. It is including Personal skills: Knowledge/ skill/experience, ability to do the task and what employee will convey to the work from the other part of their social life Personal motivation: desire, goal, work inspiration. Workplace environment: The background of the business, personal respect, free to renovate. Teamwork efficiency: having a same objective and values, helpfulness, communal respect Essential material need in NVQs Assessment and homework to consider becoming the important material in NVQs. It gives speedy and basic methods for checking employee has the right stuff and abilities to work in an exchange. The specialist gets his or her NVQ Level 2 or 3 by a mix of evaluation and works environment preparing, during which time they give confirm they meet the NVQs requirement. Other material, may aid to the learner or trainee to achieve NVQs qualification such as the computer, pen, folder, tablet, video or textbook Example practical organization NVQs is co-operated with City NVQs Logistic Delivery

Hemingways Personal Life and its Influence on his Short Story, Hills L

Hemingway's Personal Life and its Influence on his Short Story "Hills Like White Elephants" "Hills like White Elephants" is not the normal story where you have a beginning, middle and end. Hemingway gave just enough information so that readers could draw their own conclusions. The entire story encompasses a conversation between two lovers and leaves the reader with more questions than answers. Ernest Hemingway was a brilliant writer. People that study Hemingway's works try to gain insight and draw natural conclusions about Hemingway and his life. Hemingway led a difficult life full of martial affairs and misfortune. Some of these experiences have set the foundation for Hemingway's greatest works. This essay will analyze the influence that Hemingway's separation from Pauline and divorce from Hadley had on "Hills like White Elephants." Before authoring "Hills like White Elephants," Hemingway had been residing in Paris with his wife Hadley and son, Bumby. During their stay in Paris, Hadley and Ernest Hemingway met a woman named Pauline Pfeiffer. Pauline was more of a friend to Hadley than Hemingway was. Pauline did not think much of Hemingway at first, she thought he was lazy and a no-doer. Later Pauline and Hemingway fell in love and had an affair. Once Hadley knew of their affair, Hemingway requested a divorce. Hadley agreed under one condition, Hemingway and Pfeiffer had to separate for 100 days. After the 100 days if they were still in love, then Hadley would grant the divorce (Baker 174). This separation period left an indelible effect on Hemingway's life and works. During this separation, Hemingway began a collection of short stories titled "Men without Women." Hemingway explained, "The title was an indication that all... ...writing this story to fully understand it. This story supplies the reader with insight into Hemingway's personality and controversial theme. Works Cited Baker, Carlos Heard. Ernest Hemingway: A Life Story. New York: Charles Scribner's Sons.1969. Benedictus, Luke. "Those Literary Lushes." The Age Company Ltd. August 2002. 23 Feb. 2003. http://www.theage.com.au/articles/2002/08/13/1029113928191.html Scribner, Charles III. 2000 Cable News Network. 15 Feb. 2003. http://www.cnn.com/SPECIALS/books/1999/hemingway/stories/biography/part1/index.html. Stanford, Judith A. Responding to Literature: Stories, Poems, Plays, and Essays. New York: McGraw-Hill.2003. Webster, Deanna. [Education Coordinator] Hemingway-Pfeiffer Museum and Educational Center. 15 Feb. 2003. http://hemingway.astate.edu/paulinebio.html.

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40 International Journal of Management Vol. 30 No. 1 March 2013 The Impact of Bank Board Composition, Top Management Equity Interest and Audit Committee Effectiveness on Top Management Transparency Udoayang Joseph Offiong University of Calabar, Nigeria Uket Eko Ewa Cross River University of Technology, Nigeria The aim of this study was to determine the impact of bank board composition, top management equity interest and audit committee effectiveness on top management transparency on the performance of Banks in Nigeria.Data were collected from thirteen Nigerian banks using a Four Point Scale Likert questionnaire and analyses using percentages and ratios. Multiple regressions were used in testing the hypotheses. The study revealed that top management equity interest influences the level of correct financial disclosures and transparency that Audit Committees are not effective and independent of management and members’ appointments are not based on integrity, competence and expert ise of individuals.The study concluded that forensic accounting practice if incorporated in the banking operations will improve top management transparency and good corporate governance in the Nigerian banking sector which ultimately will improve the performances of Nigerian Banks. Based on the findings, we recommend independence of bank’s audit committees as well as integrity, competence and expertise as pre-requisite for appointment as Audit Committee membership. IntroductionBusiness failures have an economic implication which is disastrous to the economy of any nation. In fact big investment frauds and trading scams have resulted in the loss of billions of dollars from gullible people. Nigeria is not an exception. There are various advanced fee frauds in Nigeria and other investment frauds that have bedeviled the Nigerian economy and the world. Bernard Ma doff, a former chairman of Nasdaq Exchange was arrested for running a $50 billion Ponzi scheme.It is alleged that his o peration is the largest ponzi scheme in history. (Nikhil, 2009). In Nigeria, we have experienced many failed banks and finance houses in the late 1980s and 1990s. Many of the banks chief Executives absconded abroad while some were tried due to their involvements in employee related frauds and money laundering scams. Nigeria has witnessed corruption in all facets of her polity and economy which includes the banking sector.Ajayi, (2005) as cited in Adegbaju and Olokoyo, (2008) maintained that banking sector reforms in Nigeria are driven by the need to deepen the financial sector and reposition the Nigerian economy for growth; to become integrated into the global financial structural design and evolve a banking sector that is consistent with regional integration requirements and international best practices. It also aimed at International Journal of ManagementVol. 30 No. 1 March 2013 41 addressing issues such as governance, risk management and operational inefficiencies which forensic accounting practices is geared towards achieving. After the appointment of Sanusi Lamido as Governor of the Central Bank of Nigeria, the Nigerian banking sector experienced turbulent crises as a result of the reforms introduced by him. Most banks that hitherto were adjudged liquid were declared insolvent.The management boards of many quoted banks were dissolved by the Central Bank of Nigeria and some top management staff were reported to the Economic and Financial Crime Commission for prosecution for fraud and mismanagement of funds and so constituting economic crimes. The Banks’ overall risk management was questionable. Against this background, the research is geared towards ascertaining the impact of bank board composition, top management equity interest and audit committee effectiveness on top management transparency.Theoretical Framework Fraud or intentional deception is a strategy to achieve a personal or organizational goal or satisfy a human need. A threat to survival or satisfy a need may cause one to choose either dishonest or honest means. The fraud triangle theory propounded by Donald Cressey states that every fraud has three things in common: (1) Pressure sometimes referred to as motivation and usually a â€Å"un-shareable need†; (2) Rationalization of personal ethics; and (3) Knowledge and opportunity to commit the crime.Pressure according to Singleton et al (2006) in their work on the fraud triangle theory stated that pressure or incentive or motivation refers to something that has happened in the fraudster’s personal life that creates a stressful need for funds and thus motivates him to steal. This motivation centers on some financial strain but it could be the symptoms of other types of pressures. Other types of pressures or motivations include; social and political survival (egocentric and ideological motives) and psychotic.Kenyon and Tilton (2006), Management or other employees may find themselves offered incentives or pl aced under pressure to commit fraud. They sighted as an example that when remuneration or advancement is significantly affected by individual, divisional or company performance, individuals may have an incentive to manipulate results or to put pressure on others to do so. Likewise, pressure may come from the unrealistic expectations from investors, banks or other sources of finance.They therefore stated that incentives or pressures may take a variety of forms within an organization. These include; bonuses or incentive pay representing a large portion of an employee or group’s compensation, triggers built into debt covenants tied to share price targets and levels, significant stock option awards throughout the organization but particularly to top management, and aggressive earnings-per-share and revenue targets set by top management and communicated to analysts, investment bankers, and other market participants, ith resultant pressure from these groups. Rationalization and att itude according to Kenyon and Tilton, (2006) in their write up on Potential Red Flags and Fraud Detection Techniques stated that some individuals are more prone than others to commit fraud. That all things being equal, the propensity to commit fraud depend on people ethical values as well as on their personal circumstances. 42 International Journal of Management Vol. 30 No. 1 March 2013 They asserted that ethical behavior is motivated both by a person’s character and by external factors.External factors include job insecurity such as during a downsizing or redundancy or a work environment that inspires resentment such as being passed over for promotion. Also external environment includes the tone at the top – the attitude of management toward fraud risk and management’s response to actual instances of fraud. They posited that when fraud has occurred in the past and management has not responded appropriately, others may conclude that the issue is not taken seriou sly and they can get away with it.Instances may exist that create opportunities for management or other staff to commit fraud. When such opportunities arise, according to Kenyon and Tilton, (2006), those who might not otherwise be inclined to behave dishonestly may be tempted to do so. They stated that absent or ineffective controls, lack of supervision or inadequate segregation of duties may provide such opportunities. Also according to Cressey’s research (i. e. , the Fraud Triangle), fraudsters always had the knowledge and opportunity to commit the fraud.Tommie and Singleton et al stated that the ‘Report To The Nation (RTTN) (2004) research carried out by Association of Certified Fraud Examiners showed that most employees and managers who commits fraud tend to have a long tenure with a company. A simple explanation deduced by the scholars is that employees and managers who have been around for years know quite well where the weaknesses are in the internal controls and have gained sufficient knowledge of how to commit the crime successfully.Skalak, Alas, Sellitto (2006) in their contribution ‘Fraud: An introduction’ in the book â€Å"A Guide to Forensic Accounting and Investigation† stated that, the increased size and impact of financial reporting scandals and the related loss of billion of dollars of shareholder value have rightly focused both public and regulatory attention on all aspects of financial reporting fraud and corporate governance.They postulated that some of the issues upsetting investors and regulators – for example, executive pay that could be considered by some to be excessive are in the nature of questionable judgments, but do not necessarily constitute fraud. On the other hand, there have been more than a few examples of willful deception directed toward the investing community via fabricated financial statements, and many of these actions are gradually being identified and punished.They stated that t he investing public may not always make a fine distinction between the outrageous and the fraudulent – between bad judgment and wrongdoing. However, they stated that professionals charged with the deterrence, discovery, investigation and remediation of these situations, a systematic and rigorous approach is essential. They therefore formulated what they called ‘Fraud Deterrence Cycle’ which they opined without an effective regimen of it, fraud is much likely to occur.They acknowledged that even with fraud deterrence regimen effectively in place, there remains a chance that fraud will occur. Thus absolute fraud prevention is a laudable but unobtainable goal. Fraud deterrence elements include establishment of corporate governance, implementation of transaction-level control processes often referred to as the system of internal accounting controls, retrospective examination of governance and control processes through audit examinations and International Journal of M anagement Vol. 30 No. 1 March 2013 43 investigation and remediation of suspected or alleged problems.Corporate governance is an entire culture that sets and monitors behavioral expectations intended to deter the fraudster. In order to execute effective governance, boards and management must effectively oversee a number of key business processes including strategy and operation planning, risk management, ethics and compliance, performance measurement and monitoring, mergers, acquisitions, and other transformational t ransactions, management evaluation, compensation, and succession planning, communication and reporting, governance dynamics.Transaction-level controls or system of internal accounting Controls: They are accounting and financial controls designed to help ensure that only valid, authorized, and legitimate transactions occur and to safeguard corporate assets from loss due to theft or other fraudulent activity.These procedures the authors stated are preventive because they m ay actively block or prevent a fraudulent transaction from occurring. Retrospective Examination: According to Skalak, Alas, Sellitto (2006), the first two elements of the Fraud Deterrence Cycle are the first line of defense against fraud and are designed to deter fraud from occurring in the first place.Oyejide, and Soyibo, (2001) in their paper â€Å"Corporate Governance in Nigeria† cited (Rwegasira, 2000) stated that Corporate governance, as a concept, can be viewed from at least two perspectives: a narrow one in which it is viewed merely as being concerned with the structures within which a corporate entity or enterprise receives its basic orientation and direction; and a broad perspective in which it is regarded as being the heart of both a market economy and a democratic society (Sullivan, 2000).The narrow view perceives corporate governance in terms of issues relating to shareholder protection, management control and the popular principal-agency problems of economic theo ry. In contrast, Sullivan (2000), a proponent of the broader perspective uses the examples of the resultant problems of the privatization crusade that has been sweeping through developing countries since the 1980s, and the transition economies of the former communist countries in the 1990s, that issues of institutional, legal and capacity building as well as the rule of law, are at the very heart of corporate governance.Hamid, (2009) in his article ‘The impact of the Composition of Audit Committee on organizational and physical controls of Banks in Nigeria’ stated that there is no generally accepted definition of corporate governance which enjoys a consensus of opinion in all settings and countries of the world. That the concept is defined and understood differently in different parts of the world depending on the relative powers of the owners, managers and providers of capital.Klapper and Love (2002) as cited by Hamid, suggested four components of an effective Corporat e Governance; Board Composition, Board Size, Power Separation and Audit Committee composition. In its preface on the Code of Corporate Governance in Nigeria document, the Securities and Exchange Commission (SEC) in collaboration with the Corporate Affairs Commission stated as follows: †¦ Long before the highly publicized corporate scandals and failures worldwide, the global community has shown increasing concern on the issues of corporate 44International Journal of Management Vol. 30 No. 1 March 2013 governance. The reason for this trend is not far to seek. There is growing consensus that corporate governance, which has been defined as the way and manner in which the affairs of companies are conducted by those charged with the responsibility, has a positive link to national growth and development. The Commission further stated that the importance of effective corporate governance to corporate and economic performance cannot be over-emphasised in today’s global market pla ce.Sir Adrian Cadbury Committee set up in May 1991 in its report â€Å"Report of the Committee on the Financial Aspects of Corporate Governance† on 1 December 1992 in an effort to stem the financial scandals and generally improve corporate governance of United Kingdom companies gave rise to accompanying Code of Best Practice which was adopted by the London Stock Exchange on 30 June 1993 and proposed a system of self regulation by listed companies.Ramaswamy, (2005) further stated that the failure of the corporate communication structure has made the financial community realize that there is a great need for skilled professionals that can identify, expose and prevent weaknesses in three key areas: Poor corporate governance, flawed internal controls and fraudulent financial statements.The author further said the recent corporate scandals came as a shock not just because of the enormity of failures like the Enron, Adelphia communications, WorldCom, Lehman Brothers, Stamford Group and AIG in the US, Cadbury in Nigeria and Parmalat in Italy, but because of the discovery that questionable accounting practice was far more insidious and widespread than previously envisioned. A definite link between these accounting failures and poor corporate governance is thus beginning to emerge.According to Ramaswamy (2005), presently an increasing number of researchers are finding that poor corporate governance is a leading factor in poor performance, manipulated financial reports and unhappy stakeholder. In their research on corporate governance and bank performance in the US, Spong, and Sullivan, (2007) stated that individuals with much of their wealth concentrated in a bank are likely to have a strong incentive to put forth greater effort and also to be more careful in the risks they choose to take than managers with significant motivations and financial incentives.They asserted that the separation between management and ownership in financial theory is referred to as pri ncipal-agent problem which may lead hired managers to maximize their own utility rather than that of the firm. Glassman and Rhoades (1980) compared financial institutions controlled by their owners with those controlled by managers and found that the owner-controlled institutions had higher earnings. Allen and Cebenoyan (1991) found that banking holding companies were more likely to make acquisitions that added to firm value when they had high inside stock ownership and more concentrated ownership.Cole and Mehran (1996) discovered higher stock returns at thrifts that had either had a large inside shareholder or a large outside shareholder. In Nigeria in the contrary, Orogun, (2009) citing Adedeji stated that bank failures in Nigeria are attributed to inadequate capital base, fraudulent, self serving and corrupt practices of the owners and managers, meddlesome interference of board members in the day to day running of the institution and regulatory laxity. On the application of Audit Committees as components of good International Journal of Management Vol. 0 No. 1 March 2013 45 corporate governance in Nigeria, Hamid (2009) citing Wilson (2007) stated that Nigeria Deposit Insurance Corporation (NDIC) Act of 1988, the Central Bank of Nigeria (CBN) Act of 1991, the various prudential guidelines issued by the Central Bank of Nigeria, the listing requirements of the Nigeria Stock Exchange (NSE) and the Securities and Exchange Commission (SEC) rules and Securities and Exchange Commission code of corporate governance 2003, the Central Bank of Nigeria code of corporate governance for banks 2006 must be abided by banks.Hamid (2009) in his research published and titled, ‘The impact of the composition of audit committee on organizational and physical controls of banks in Nigeria’ observed that a number of banks did not adhere to the composition requirement for good corporate governance in the Banks and thus affects the quality of control mechanisms that are i nstituted to safeguard operations in the banking industry. Also the study revealed that unrestricted appointments of executive directors on audit committees decreased the monitoring provided by the committees and it’s effectiveness in checking management scandal and sustaining the effectiveness of ccounting and internal control systems. The study also revealed that the composition of audit committees have an impact on physical control of banks in Nigeria. This result is consistent with earlier findings by Uzun, Szewezyk and Varma (2004) which indicated that a higher degree of independence of the audit committee is associated with a higher control thus lower likelihood of corporate fraud. Transparency and accountability has been a hot debate in the management of businesses and governance all over the world. In fact it is a barometer for measuring business competitiveness among nation states.According to Oladoyin,, Elumilade, and Ashaolu, (2005), the issue of transparency and a ccountability in financial institutions is one that cannot be readily glossed over. That transparency and accountability constitute pivotal features of any respectable public official or professional practitioner. In recent years, there has been great concern on the management of banks’ assets and liabilities because of large scale financial distress. Adam,(2009). The banking sector has been singled out for the special protection because of the vital role banks play in an economy.Bank supervision entails not only the enforcement of rules and regulations, but also judgments concerning the soundness of bank assets, its capital adequacy and management. Volcker,(1992). In Nigeria, the rising cases of bank distress have also become a major source of concern for policy makers. McNamara, C (2009) stated that performance management is a relatively new concept to the field of management. That performance management reminds us that being busy is not the same as producing results. It re minds us that training, strong commitment and lots of hard work alone are not results.That the major contribution of performance management is its focus on achieving results — useful products and services for customers inside and outside the organization. Despite the recent attention to achieving maximum performance, McNamara (2009) stated that there is no standard interpretation of what 46 International Journal of Management Vol. 30 No. 1 March 2013 that means or what it takes to get it. However having stated what people are suggesting that it takes for organizations to achieve maximum performance he stated that, we should be aware of the various views and be able to choose our own.The efficiency and competitiveness of financial institutions cannot easily be measured, since their products and services are of an intangible nature. Idialu, and Yomere, in their article â€Å"Stochastic frontier analysis of the efficiency of Nigerian Banks† cited Berger, Hunter and Timme (1993) as defining efficiency as the ratio of the minimum costs that could have been expended to produce a given output bundle to the actual costs expended. Arshadi and Lawrence (1987) on the other hand, measures bank performance using normal correlation analysis.Srinivane (2009) capsulate that banks are exposed to credit risk, liquidity risk, interest risk, market risk, operational risk and management/ ownership risk. He stated that it is the credit risk which stands out as the most dreaded one. Considering the Nigerian banking history and customers attitude to credit obligations, this is the most dreaded risk in Nigeria. Though often associated with lending, credit risk arises whenever a party enters into an obligation to make payment or deliver value to the bank.Srinivani (2009). The nature and extent of credit risk, therefore, depend on the quality of loan assets and soundness of investments. Based on the income, expenditure, net interest income and capital adequacy one can comm ent on the profitability and the long run sustenance of the bank. Research Methodology The study employed the survey research method using the technique of interview to complement the questionnaire administration and review of documentary sources.The questionnaire was structured in a four point likert scale model where strongly agreed was assigned 4 points, agreed assigned 3 points, disagree assigned 2 points and strongly disagreed assigned 1 point. Scope of Research Area Thirteen publicly quoted commercial banks were selected as the study population from the twenty four commercial banks operating in Nigeria. The selection covers both the first generation Banks, second generation Banks and Banks that emerged from mergers of more than one bank during the recent bank consolidation in Nigeria. Their choices are premeditated on their size and their banking coverage.Model Specification To examine the impact of bank board composition, top management equity interest and audit committee eff ectiveness on top management transparency in the Nigerian banking sector, hypothesis formulated was developed into models and was subjected to empirical test using multiple regression analysis, percentages comparison and ratio analysis. y = ? 0 + ? 1x 1+ ? 2Ãâ€"2 + †¦+ ? nxk +? ijk Where ? 0 = Regression Constant and ? 1, ? 2, ? 3 †¦ ? n are = regression coefficients Where ? 0 and ? 1 are obtained by solving simultaneously the equations: International Journal of Management Vol. 30 No. 1 March 2013 47 y = ? 0N+ ? 1? X ?XY = ? ? X + ? ?X2 0 1 Where y = Dependent variable, x = Independent variables Estimation and validation To determine the use-ability of the questionnaire on the Impact of Bank Board Composition, Top Management Equity Interest and Audit Committee Effectiveness on Top Management Transparency in the Nigerian banking sector, the questionnaire was built on a four point Likert scale on one hundred and forty eight respondents. To determine the use-ability, item-te st correlation coefficient were computed. All item-test correlation lie in the range r=0. 6  ±0. 1. They were considered significant and useable.Analysis of Data Table 1 shows that 50(34%) respondents strongly agreed that their top management equity interest in their banks influences their level of financial disclosure. 46(31%) respondents also agreed that their top management equity interest in their banks influences their level of financial disclosure while 52(35%) respondents strongly disagreed that their top management equity interest in the bank influences their level of financial disclosure. Table 1. Top Management transparency, Banks Board composition, Top Management equity interest and Audit Committee effectiveness Research Question Whether top anagement equity interest in the Bank influence her level of financial disclosures. Whether Audit Committees are effective, efficient and independent of management. Whether the composition of Bank boards is based on director’ s individual integrity, knowledge of industry and competence high? Whether top management is transparent in her decision making? Opinion of Respondents Strongly (%) Agreed (%) Disagreed (%) Strongly (%) Total Agreed disagreed 50 34% 46 31% 52 35% 0% 148 0 0% 50 34% 98 66% 0% 148 4 3% 48 32% 96 65% 0% 148 0 0% 35 24% 113 76% Source: Data from questionnaire analysis based on responses 0% 0% 148 48International Journal of Management Vol. 30 No. 1 March 2013 In a related matter, 35(24%) respondents agreed that their top management is transparent in her decision making process as it affects the bank and their personal interests. 113(76%) respondents however disagreed that their top management is transparent in her decision making process as it affects the bank and their personal interests. 50(34%) respondents agreed that their banks audit committees are effective, efficient and independent of management while 98(66%) respondents disagreed that their banks audit committees are effective, efficient and independent of management.Also, 4(3%) respondents strongly agreed that the composition of their Bank Boards is based on the fact that the individuals’ integrity, knowledge or expertise of the industry and competence are very high. 48(32%) respondents also agreed that the composition of their Bank Boards is based on the fact that the individuals’ integrity, knowledge or expertise of the industry and competence are very high. However, 96(65%) respondents disagreed that the composition of their Bank Boards is based on the fact that the individuals’ integrity, knowledge or expertise of the industry and competence are very high. HypothesisNull (N0): Top management transparency does not depend significantly on Bank board composition, top management equity interest and audit committee effectiveness. Alternate (N1): Top management transparency depends significantly on Bank board composition, top management equity interest and audit committee effectiveness. Let y = represent dependent variable and Let x1-3 = represent independent variables Variables in the Hypothesis Dependent Variable (y) = Top management transparency Independent variable (x1) = Top management equity interest. Independent variable (x2) = Audit Committee effectiveness Independent variable (x3) Bank board composition To test the hypotheses, multiple regression analysis was used with top management transparency variable as the dependent variable and bank board composition, top management equity interest and audit committee effectiveness as independent variables. The means are not equal, at least among the predictor variables suggesting that they may not have the same predictive ability. The standard deviation though small gives us the assurance that there is variation in the variables as we move from bank to bank as reflected in table 2. The inter-variable correlations were computed via the Pearson product moment formulae.These correlation coefficients are given in tabl e 3. From table 3, we observed that the three independent variables correlates significantly International Journal of Management Vol. 30 No. 1 March 2013 49 with the dependent variable (first row and column) since the associated probabilities are all less than the chosen level of significance. The inter correlations among the independent variables are also significant. Though this phenomenon is desirable in a multiple regression analysis, it validates our claim that they are all elements of the one variable called good corporate governance in forensic accounting practice.The significance of their correlation with the dependent variable suggests that they may be significant predictors of top management transparency. To test the significance of their predictive ability collectively, the prediction model parameters were estimated and tested for significance using the F-ratio test. The results are presented in table 3. From table 4, the estimated F-value (77. 233) is greater than the cr itical F-value (2. 600) with 3,144 degrees of freedom and at 0. 05 levels. Also, the probability associated with the observed F-value (0. 000) is less than the chosen level of significance.Consequently the null hypothesis is rejected in favor of the alternative. This means that top management transparency depends significantly on top management equity interest, audit committee effectiveness and bank board composition as elements of good corporate governance in forensic accounting practice. The R-squared value of 0. 617 and its adjusted form of 0. 609 together indicate that between 60. 9% and 61. 7% of the total variation in top management transparency is accounted for by top management equity interest, audit committee effectiveness and bank board composition with a standard error of estimate of 0. 67. Table 2. Mean and standard deviation of the four variables Variable Top management transparency Top management equity interest Bank Boards Composition Audit Committee effectiveness Mea n 2. 237 2. 987 2. 378 2. 338 Standard deviation 0. 426 0. 833 0. 540 0. 475 Source: Data from questionnaire analysis based on responses Table 3. Inter correlation among Top Management transparency, Management equity interest, Board composition and Audit Committee effectiveness. Variable Y X1 X2 X3 Y 1. 000 0. 680* 0. 779* 0. 762* X1 0. 680* 1. 000 0. 872* 0. 829* X2 0. 779* 0. 872* 1. 00 0. 932* *Significant at 0. 05 level, p < 0. 05 Y = Top management transparency X1 = Top management equity interest. X2 = Audit Committee effectiveness X3 = Bank board composition Source: Data from questionnaire analysis based on responses X3 0. 762* 0. 829* 0. 932* 1. 000 50 International Journal of Management Vol. 30 No. 1 March 2013 The relative contribution of each of the independent variables to the prediction of top management transparency is estimated as regression coefficients and tested for significance using the t-test. Table 5 is summary of the results.From the table, the computed t-value for the regression constant (5. 336) and audit committee effectiveness (3. 320) are greater than the critical t-value (1. 976). Their associated probabilities (0. 000 and 0. 001) for the regression constant and audit committee effectiveness respectively are less than the chosen level of significance. This means these are the significant contributors to the prediction of top management transparency. The contribution of the other two variables: top management equity interest and bank board composition do not contribute significantly to the prediction of top management transparency.All the same, the obtained prediction model is: y= 0. 616 – 0. 009Ãâ€"1 + 0. 487Ãâ€"2 + 0. 215Ãâ€"3 Where y= x1 = x2 = x3 = Top management transparency Top management equity interest Audit Committee effectiveness Bank Board Composition. Table 4. Model summary and ANOVA for the prediction of top management transparency. R R-Square 0. 785 Source of variation Regression Residual Total 0. 617 Sum of S quares 16. 480 10. 243 26. 723 Adj. R-Square 0. 609 Df. 3 144 147 Std Error 0. 267 Mean Square 5. 493 0. 071 R. Square Change 0. 617 F Sig. 77. 233* 0. 000 * Sig. at 0. 05 level. F(3,144) = 2. 600Source: Data from questionnaire analysis based on responses Table 5. Regression constant and coefficients for the prediction of top management transparency. Variable Constant Top Management equity Audit effectiveness Bank Board Composition Un-standardized Coefficients B Std Error 0. 616 0. 115 -0. 009 0. 054 0. 487 0. 147 0. 215 0. 113 Standard Coefficients Beta * Significant at 0. 05; p < 0. 05. Source: Data from questionnaire analysis based on responses -0. 02 0. 542 0. 272 T Sig. 5. 336* -0. 172 3. 320* 1. 903 0. 000 0. 864 0. 001 0. 059 International Journal of ManagementVol. 30 No. 1 March 2013 51 Findings The study revealed that top management equity interest in the banks influences the level of correct financial disclosures of the banks and their level of transparency. This ran contr ary to recent research findings in the United States where it was revealed that individuals with much of their wealth concentrated in a bank are likely to have a strong incentive to put forth greater effort and also to be more careful in the risk they choose to take. Audit Committees are not effective, efficient and independent of management of the banks.Likewise, the appointment of the committee members is not based on integrity, competence and expertise of candidates. Conclusions The Nigerian Banking sector which constitutes over 70% of volume trading in the past four years being the most active sector in the capital market will strive for better if the issue of good corporate governance and ethical conduct by bank directors and management is addressed. The study therefore recommended that the composition of banks audit committees should be based on integrity, competence and knowledge or expertise of individuals and it should be independent of management.Those banks should have as one of their reporting requirements a statement on compliance to good corporate governance. References Ademola, T O and Soyibo A (2001), Corporate governance in Nigeria. Paper presented at conference of Corporate Governance, Accra, Ghana. 20-30 Adegbaju, A. 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