Nudging Corporate Law: From Profit Maximization for Shareholders and Creditors to Maximizing Corporate Value by Reputation
In this study, corporate law will be discussed based on the interests of shareholders and creditors. We hypothesized that, based on the reason-based choice of maximization of corporate value by reputation, the use of the Nudge does not eliminate the inefficiencies caused by increased transaction costs for interest adjustment. Conventional financial evaluation is treated as a separate index. In addition, we assume high transaction costs for the interest adjustment of shareholders and creditors. However, it is possible to set forth the same goal of creating corporate value by reputation, suggesting the possibility that conflicts of interest eventually subside. In addition, we want to develop the idea of interest adjustment of parties as reciprocal altruism through behavioral economics.
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Nina’s emergence as a Liberated Woman in Manju Kapur’s the Immigrant
There are number of postcolonial theorist and critics such as Frantz Fanon, Homi K. Bhabha, and Gayatri Chakravorty Spivak contributed to postcolonialism and the postcolonial intellectuals has developed a new perspective whereby the conditions of marginality, subalterneity, plurality, mimicry, hybridity are seen as sources of energy and potential change. Many women writers, thinkers and critics have formulated a school of thought that searches for such instances in literature. Feminist literary criticism primarily responds to the way woman is presented in literature. Postcolonial feminist criticism examines how women are represented in colonial and postcolonial literature and challenges assumptions which are made about women in both literature and society. Postcolonial feminists point out the ways in which women continue to be stereotyped and marginalised, ironically sometimes by postcolonial authors who might claim to be challenging a culture of oppression. The main task of the feminist literary critics seems to oppose patriarchal norms which exist in the society. The marginalizations of women, their predicament, struggle for identity, finding their own space, celebrating the female body are the chief subjects of this trend. The protagonists of all the novels of Manju Kapur are seen as women struggling against all odds. Manju Kapur has always tried to depict the picture of the sufferings of women at deeper level in her novels. In her novels, she deals with the problems of women and their struggle to establish an identity. She in particular takes up the cause of the females who are victimized on account of conservative and traditional mind-set of the Indian masses. Most of the protagonists of Kapur are women who assert their rights and raise voice against male chauvinism. Nina is one such character who rebels against the exploitation and oppression to assert her individuality.
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n-Closure Local Functions in Ideal Topological Spaces
In this paper we formulate a new local function called ?-closure local function and we construct ?-closure compatible spaces using ?-open sets. Further we introduce an operator ?_?(A) for each A ? P(X) by utilizing ?(A). Moreover we characterize the properties of ?-closure local function and investigate their relationship with other types of similar functions.
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Mutual Funds in Financial Inclusion:An Indian Scenario
Abstract The recent past ongoing string of financial crisis across the globe resulted in rising inflation, slowdown in industrial productivity, layoff of industrial units and job cuttings leading to being shaken the financial markets; both equity and debt markets. The prevailing volatility in different financial markets all over the world lead to dent in the capital market performance, challenging mutual fund industries to show consistent performance against the prevailing adverse situation. Mutual Fund Industry was able to go ahead of the market trend. The increasing trend of Indian Mutual Fund Industry bears witness to the fact that it is attracting more and more investors and winning the confidence of the investors. The fund houses are coming with innovative and low-cost products to attract the common masses, so as to contribute towards financial inclusion. The present paper is divided into three parts; the first part highlights the financial inclusion in India, second parts explains the role of mutual funds towards achieving the financial inclusion and third part contains the challenges faced by mutual funds and the action plan necessary to be taken by mutual fund industry to bring financial inclusiveness. Keywords: Financial Crisis, Mutual Fund, Financial Inclusion, Layoff, Volatility.
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Multicomponent Synthesis of Dihydrofuro-quinolin-4(2H)ones Under Conventional and Microwave Irradiation Method in aqueous medium
An aqueous medium multicomponent synthesis of trans-2-aroyl-5-methyl-3-aryl-3, 5-dihydrofuro [3, 2-c]-quinolin-4(2H)-one in pyridine by conventional and microwave irradiation, easy workup, smaller reaction time and lack of column chromatography are the significant feature of this protocol. The Phenacyl bromide with pyridine is first time used as starting with1-methyl-4-hydroxy quinolone, substituted aromatic aldehydes for the biological interest compound (4a-p) for this green transformation generating one C-O and two C-C bonds in one operation, Knoevenagel followed by Michael addition and intramolecular Cyclisation.
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Ms. Mamta Gurung joined the team of Elixir Editorial Advisory Board from 22nd January 2016
We are very happy to announce that from 22nd January 2016, Ms. Mamta Gurung has joined the team of Elixir Editorial Advisory Board. He/She will carry a special responsibility for dealing with manuscripts based on Economics. The appointment of Ms. Mamta Gurung as member Editorial Advisory Board strengthens the links and will make it easier for prospective authors to establish contact with the journal. Please send any expressions of interest to elixirpublishers@gmail.com.
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Mr. Nayanika Singh joined the team of Elixir Editorial Advisory Board from 27th January 2016
We are very happy to announce that from 27th January 2016, Mr. Nayanika Singh has joined the team of Elixir Editorial Advisory Board. He/She will carry a special responsibility for dealing with manuscripts based on Psychology. Mr. Nayanika Singh working as Assistant Professor & Counselor, Department of Psychology, SUS, Tangori (Mohali, Punjab). The appointment of Mr. Nayanika Singh as member Editorial Advisory Board strengthens the links and will make it easier for prospective authors to establish contact with the journal. Please send any expressions of interest to elixirpublishers@gmail.com.
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Modern Picture of the World and the Creator
The present article discuses the problems of new Unitary Quantum Theory in its applications to the different aspects of the reality. There are spectacular examples of such applications. The Modern science cannot explain origin of life's.
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Modelling Nigeria population growth rate
Abstract Thomas Robert Malthus Theory of population highlighted the potential dangers of over population. He stated that while the populations of the world would increase in geometric proportions, the food resources available for them would increase in arithmetic proportions. This study was carried out to find the trend, fit a model and forecast for the population growth rate of Nigeria.The data were based on the population growth rate of Nigeria from 1982 to 2012 obtained from World Bank Data (data.worldbank.org). Both time and autocorrelation plots were used to assess the Stationarity of the data. Dickey-Fuller test was used to test for the unit root. Ljung box test was used to check for the fit of the fitted model. Time plot showed that the random fluctuations of the data are not constant over time. There was an initial decrease in the trend of the growth rate from 1983 to 1985 and an increase in 1986 which was constant till 1989 and then slight fluctuations from 1990 to 2004 and a general increase in trend from 2005 to 2012. There was a slow decay in the correlogram of the ACF and this implied that the process is non stationary. The series was stationary after second differencing, Dickey-Fuller = -4.7162, Lag order = 0, p-value = 0.01 at ?= 0.05. The p-value (0.01) and concluded that there is no unit root i.e the series is stationary having d=2. Correlogram and partial correlogram for the second-order differenced data showed that the ACF at lag 1 and lag 5 exceed the significant bounds and the partial correlogram tailed off at lag 2.The identified order for the ARIMA(p,d,q) model was ARIMA(2,2,1). The estimate of AR1 co-efficient =1.5803 is observed to be statistically significant but the estimated value does not conforms strictly to the bounds of the stationary parameter hence was excluded from the model. =-0.9273 is observed to be statistically significant and conformed strictly to the bounds of the stationary parameter , hence was maintained in the model. The estimate of MA1 co-efficient = - 0.1337 was observed to be statistically significant conformed strictly to the bounds of the parameter invertibility. For ARIMA (2, 2, 0) the estimate of AR1 co-efficient =1.5430 was observed to be statistically significant and not conformed strictly to the bounds of the parameter stationary, hence excluded from the model. The estimate of AR 2 co-efficient =-0.9000 is observed to be statistically significant and conformed strictly to the bounds of the parameter stationary, hence retained in the model. The ARIMA (2, 2, 0) is considered the best model. It has the smallest AIC. The Ljung test showed that residuals are random and implies that the model is fit enough for the data. The forecast Arima function gives us a forecast of the Population Growth Rate in the next thirty eight (38) years, as well as 80% and 95% prediction intervals for those predictions i.e up to 2050. Keywords: Modelling, ARIMA Model, Parameter, Dickey-Fuller, Stationarity
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Modeling nonlinear dynamical systems
The study of stochastic phenomena has increased dramatically and intensified research activity in this area has been stimulated by the need to take into account random effects in complicated dynamical systems. Dynamical systems are ubiquitous and are considered to be stochastic processes. In this study, a nonlinear dynamical system was modeled as a solution to an Ito stochastic differential equation . Where denotes a Wiener or Brownian motion process while and are deterministic functions. The Ito Stochastic Differential Equation was applied to characterize the important functional of the solution process in some intervals [0,t],X(t) which satisfies the integral equation, X(t)=X(0)+?_0^t??f(s,X(s))ds?+?_0^t??g(s,X(s) )dW(s)?. The solution of the integral equation is a Lagenvin equation which is an Ornstein-Uhlenbeck (O-U) process dX_t=?(?-X_t )dt+?dW_t. The O-U process which is a Gaussian process was related to the world of time series analysis. The model was applied to Nigerian monetary exchange rate and compared with the existing models of monetary exchange rate. R package and the Akaike Information Criteria (AIC) were used to provide the model of best fit for the Nigerian monetary exchange rate as an autoregressive moving average of order one which is given to be? S?_t=0.4287S_(t-1)+?0.2099e?_(t-1)+e_t. The results obtained revealed that the structural diffusion model approach gives a first-order autoregressive moving average process in continuous time with differentiation in continuous time corresponding to differencing in discrete time. The derived structural diffusion model has the least AIC value of 1482.61 as compared to the AIC value of 2198.86 from the existing diffusion and normal models. Keywords: Nonlinear Model, Dynamical System, Diffusion Model,
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