Schizophrenia Research Paper Example | Topics and Well Written Essays - 3000 words

Schizophrenia - Research Paper Example Schizophrenia in general as a disorder has a peculiar symptom, namely that the affected person may hear sounds that surrounding people don’t hear. They have a curious feeling that other people are trying to read their minds or in other words are gaining control of their thoughts. They are superstitious enough to harm themselves as well. This can frighten people with the illness and exclude them from the society because of extreme agitation. This brain disorder is considered to be costly and time consuming due to the behavior of the patient. Superstitions are common feelings of the patient which are caused by low intake of the medicine. First generation and second generation medicines are introduced for the patients who deal with certain types of the syndrome. Trust should be developed while treating a patient with schizophrenia. Introduction: Schizophrenia is basically a brain disorder which is found to be persistent, severe, and even disabling the brain and it has affected pe ople throughout history. About 1 percent of Americans have this illness. People with schizophrenia may give a feeling as if they are lost in thoughts. Such person can sit for hours without moving or talking. One cannot judge a person until he/she speaks about what they are really thinking. Depending upon the conditions and causes families and society are affected by schizophrenia too. It has been found that people suffering from schizophrenia have difficulty within their social circle, maintaining a job or even taking care of themselves, so they rely on others for help. With developing research and more effective medications, researchers are finding solutions to this brain disorder. Use of medicine and treatment helps relieve many symptoms of schizophrenia, but often people fight with symptoms throughout their lives. However, many people with schizophrenia can lead rewarding and meaningful lives in their communities. (Regier DA, 1993) Prevalence of the Disease Several factors affect the prevalence of schizophrenia, such as the recognition and reaction to treatment. The prevalence of schizophrenia can be calculated either from cases registered or field surveys. Researchers report that figures have been hypothesized that prevalence estimates would differ between lifetime, period, and point prevalence. Estimates were calculated as a proportion by dividing the total number of individuals who had the disorder by the total population at risk including those with the disorder. It is predicted that males from urban areas and migrants would have a larger proportion as compared to females. (Bhugra, 2005) Schizophrenia rarely occurs in children but affects men and women equally. It occurs regardless of religion and ethnic groups around the world. Mainly symptoms such as hallucinations and delusions usually commence between ages 16 to 30. Men are exposed more to symptoms a little earlier than women. Most of the time, people do not get schizophrenia after age 45. (SR, 2004 ) Schizophrenia in teens can be difficult to diagnose, because some of the first signs can include a change in emotional behavior, change of friends, low performance in education, sleep problems, and bad temper that are common among teens. However, a series of factors can forecast the disorder for up to 80 percent of youth who are at high risk of

A written summary of the article .The Ordinary Heroes of Taj Assignment

A written summary of the article .The Ordinary Heroes of Taj - Assignment Example Guests at the Japanese restaurant within the hotel were also caught up in the attack. They were instructed to hide beneath their tables, and the waiters formed a human shield between them and the attackers. Later, upon evacuation, the guests were allowed to leave first with the staff following close behind. The head waiter who was in charge, Thomas Varghese, did not make it out since the attackers shot him as he was the last one to leave the room. During the attack, 31 people lost their lives, 11 of whom were staff members at the hotel. Most of the dead staff members had sacrificed their lives to protect their guests from getting hurt during the incident. There was wide acclaim over the dedication of the staff at the hotel due to the manner in which they conducted themselves; not only were they calm, but they also went out of their way to help their guests to safety (Raina and Rohit, 5). This level of commitment by employees had not seen before, given that there were no official policies that existed at the time to deal with such a scenario. The human resource approach used at the hotel hires people based on devotion and integrity and trains them for 18 months; six more than the regular 12 months in other establishments. The result was a team of loyal employees who had the best interests of the customers at the core of all their

Cubism or Fauvism Essay Example | Topics and Well Written Essays - 750 words

Cubism or Fauvism - Essay Example Unlike Fauvism, Cubism breaks up objects, analyzes and re-assembles them in abstracted forms. Therefore, rather than view objects from a single viewpoint, Cubism depicts its subjects in multiple viewpoints, representing them in greater context. Like in Picasso’s Houses on the hill, he uses block-resembling, cubic buildings to portray an image of houses on a divergent, rather than convergent, perspective. The intersection of the surfaces at random angles eliminates depth and a central vanishing point. This is further enhanced by the use of shades and the way colors are limited. Fauvism, on the other hand, used strong colors, which were not their subjects’ natural colors, to successfully bring out strong emotions, like shown by Henri Matisse’s Dance. He based it on his previous work that used less details and paler colors. It shows five, nude dancing figures in deep red paint. They are set against the sky in deep blue and a green landscape. Reflecting the artistâ⠂¬â„¢s interest in primitive art, Dance stretches out three clearly clashing colors on the canvas, with each drawing attention to itself. By reducing its subjects into their geometric forms, Cubism was able to make works done in 2-D appear as if they were done in 3-D. Artists were able to use geometric styles to simultaneously show a subject in more than one aspect. In Fauvism, the objects were painted in very simple designs and styles, with strong colors compensating for the simplicity. Although they did not appear realistic in comparison to real life objects., they were more realistic in comparison to objects painted in Cubist style. Part B The style I find more appealing is Fauvism. Cubism presents a more complicated form of art that is not easily translated. For example, in Picasso’s Houses on the hill, one may not recognize within the first glance that they are actually houses shown in a view that flows upward. This aspect is emphasized by the way the houses are intersec ted, shown from different angles on the same surface and lack of depth. The lack of depth also gives the impression that the furthest houses are above, rather than behind, those in the foreground. On the other hand, in Fauvism, the emotions brought to mind by the style of colors are immediately felt (Gerdts, 1997). For example, they way Matisse puts three exaggerated colors next to each other in Dance, he is able to portray the sky and earth as active components of the painting, rather than mere backgrounds. The warmth of the deep red dancers arranged in a ring against a cool background in blue-green creates a feeling of the rhythmical succession that is usually conveyed by dancing. A viewer can instantly feel the emotional liberation and

Systems analysis Essay Example | Topics and Well Written Essays - 250 words

Systems analysis - Essay Example How are they ever going to reach out to far-sought village areas in third world countries while innovating itself the way no other company has ever exceeded them? If such is the case, then Google has to expound the global reach of the internet not only literally but as well as figuratively. Reaching novel systems analysis and design also requires the need for first world countries to reach out to third world entities who are unable to out-race their first world counterparts. Information technology has not only been confounded to software and hardware problems, requirements, design, and analysis. With the fast rise of developed nations, companies like Google are also socially responsible for reaching out to rural communities and bring them outside their shells, gradually introduce them to global technology, and make them an active integral part of information technology. In today’s systems analysis and design, there is a need to emphasize social responsibility in order to accom plish one’s mission, vision, and goals. And what makes Google ahead of everyone else is that they were able to realize the need to devote their time, effort, energy, and resources to rural communities in India to be able to send the message that Google is here to help.

A Clausewitzian Analysis of the Thirty Year’s War Essay Example for Free

A Clausewitzian Analysis of the Thirty Year’s War Essay When applying the Clausewitzian paradoxical trinity paradigm to the Thirty Year’s War, we see that the catalyst that sparked much of the conflict during that time was driven by civil unrest of the ‘People’ engendered by fear of religious persecution. Beginning with the divergence of religious and secular leadership resulting from the Protestant Reformation which was exacerbated by the rigidity of Catholic monarchy, we see how widespread fomenting dissent within the German States lead to the decline of the Habsburg ruling family. In his work, On War, Clausewitz describes the essence of war as a continual interplay between the ‘paradoxical trinity’ of the people, the government, and the military. As we apply this framework to the complex and varied influences of the early 17th century, this model provides clarity in determining the root causes that shaped this era an era that has come to be characterized by the rampant internecine warfare of religious and political factions of the time. The Protestant Reformation, which had begun to take traction with many of the expansion-minded German nobility, set the stage for the conflict between Catholic and Protestant factions throughout the German Provinces. With the signing of the Peace of Augsburg in 1555, Lutheranism had been officially recognized by the Holy Roman Empire. The major outcome of this treaty enabled the Protestant movement in Germany to claim lands once belonging to the Catholics. This result had great appeal to the more secular rulers throughout Europe who sought to disentangle themselves from papal oversight and influence. Under the rule of the Holy Roman Emperor Mathias, Protest and Catholic factions had gained equity of representation and influence throughout the Hapsburg controlled regions. This unification was driven, in part, by the larger Muslim threat presented by the Ottoman Empire. This truce, however, was an uneasy one with all the characteristics of a 17th century Cold War between the two religious sects, and as the balance shifted with the rise of a new monarch, each side began an arms race to defend their interests from the other. The appointment of the intransigent Catholic monarch, Ferdinand II, posed a threat to Protestants throughout the various Habsburg controlled territories. Religious hegemony of individual States was the preferred condition of German rulers in the early 17th century. The religion of the ruler shall be the religion of his subjects† was a motto that was very near and dear to many of the European rulers of the day. This rang especially true among the Catholic territories where the Church exercised much greater political influence than their Protestant counterparts. So when the balance of Protestant and Catholic controlled States was disrupted with the ascension of Ferdinand II a widely acknowledged Catholic zealot to the throne of Bohemia it brought a face to the fears of the Protestant nobility. In an effort to limit his religious edicts, the Protestant Bohemians entreated for religious freedoms of their newly throned monarch. The harsh dismissal of these entreaties was the spark that ignited the powder keg that Central Europe had become, and the subsequent â€Å"Defenestration of Prague† resulting in the death of Ferdinand’s representatives by Protestant rebels signaled the start of uprisings in Hungary, Transylvania, and the rest of Bohemia. This uprising spread throughout Europe, drawing in both political and religious powers to become decisively engaged. The unresolved religious dissent among the people and the Habsburg ruler served as a lodestone for conflict throughout Europe and lead ultimately to the decline of the Holy Roman Empire into several small autonomous territories. Early successes by the Hapsburg against the Bohemians, and later the Palatinate States, led to the direct involvement of France and Holland allying against the Hapsburgs. Their efforts were later supported by England, Sweden, Denmark, Savoy and Venice. These State actors all had their own agendas but ostensibly acted in support of the Protestant rebellion whose secular distancing from Church control appealed to both the ruling classes and commoners alike. The war ravaged the German countryside and some estimates have nearly half of the population were killed, wounded, or displaced, with some areas such as Wurttemberg losing nearly 75% of their population. The Peace of Westphalia which was signed in the fall of 1648 signified the end of the war. Alsace became part of France, while Sweden gained much of the German Baltic coast, while the Emperor had to recognize the sovereign rights of the German princes, and equality between Protestant and Catholic states, while Spain, in a separate peace, finally acknowledged the independence of the Dutch Republic. † The Habsburg crown was now, more than ever, subject to the auspices of the Imperial Diet, also termed the Reichstag or German Parliament, which exists to this day. When viewing the root cause of the Thirty Year’s War under the Clausewitzian perspective, we see that the â€Å"People† node of the paradoxical trinity was the most influential during that time. This war is often termed the War of Religion as religion was either the root cause of conflict, or the excuse used to mask political machination in efforts to expand power and influence. But in truth, religion was merely the vehicle by which contention among the commoners and landowners took shape to facilitate change of the current governmental structure. Upon the conclusion of the war, after the smoke had cleared and the damage was tallied, Habsburg power was irrevocably shattered and France emerged as the new epicenter of European influence and might. But the consequences extended beyond the immediate outcomes of the war. The resulting Peace of Westphalia changed the very relationships between citizens and the State, extricating religion from the government and laying the foundation for modern civic relationships of today’s democracies.

The Wave A movie Essay Example for Free

The Wave A movie Essay Motivation is a powerful force working in the psyche of every human mind that consciously pushes an individual toward certain tasks in order to reach a desired goal. In The Wave, a group of high school students desire to be apart of a community and to hold power blinded them of reason and moral, which eventually led them to a tragic downfall. In this movie, motivation played a crucial role in the gradual destructive behavioral changes of the students at Palo Altos Cubberly High. The psychological and behavioral changes initially began to evolve when a history teacher, Mr. Ross, encouraged students to participate in an experiment on forming a movement called The Wave. The students were immediately entranced by the idea and begin to follow every instruction given by Mr. Ross without hesitation. Soon, they were practicing the rules and drills of The Wave outside the history classroom by assimilated them into their regular everyday life. Soon, the students buried their previously learned values of individualism and morality to adjust to the newly formed community. This community later became almost cult-like, in which members were so intensely involved that they started to act hostile and sometimes violent towards anti-Wavers and non-members in the name of The Wave. The initial factor that influenced the history class to follow Mr. Ross ideas was intrinsic motivation. The novelty of the experiment first triggered the curiosity of students and they performed every duty with enjoyment. However, as the group began to take the experiment more seriously, this seemly innocent interest turned into an obsession. Students used the movement as an excuse to harass and intimidate other children. They now remain not only for inner-pleasure but also for power. Other students from outside the classroom also fell under the spell of The Wave. These later recruited Wavers motives were not intrinsic for their sole reason for joining was to gain approval from their peers and to avoid harassment. Mr. Ross provided, with his experiment, an environment where a persons inner fascism can emerge and take control. The Wave worked as a metaphorical switch that turned on some hidden unconscious desires for individuals to shut their mind and to live a simpler life by accepting orders from a  confident leader who insist that he has all the answers. Most people possess the need to identify with a group that shares a common objective. However, sometimes this need only motives people to do what is good for the group instead of what is good for themselves as individuals. Many students in this movie failed to see the larger picture of how The Wave was robbing them of their right to opinions, individuality and freedom. The Wave is a powerful and emotional journey that opened our eyes to the existence of fascism in the most unlikely place, a high school in California. The movie demonstrated how people could easily be manipulated under certain circumstances and blinded by artificial motives. Just as the Germans fell under Nazis rule during Hitlers reign, other groups or community like the high school in The Wave could also easily become the next victim of fascism.

Strategies to Maximise Shareholder Value

Strategies to Maximise Shareholder Value Introduction Firms may have different objectives to achieve. However in theory, a firm should set its objectives to increase its value for its owners. Shareholders are the owners of a firm. Therefore according to theory maximising shareholders wealth is the fundamental objective of a firm. (Watson Head –Corporate Finance principles and practice 2007) Investors generally expect to earn satisfactory returns on their investments as they require increasing the value of their investments as much as possible. This is usually determined by dividend payout and or capital gains by increasing the market value of the share price. The managers of the company act on behalf of the investors, such as operating day to day activities and making decisions within the business. In another way they do have the control of the business entity. However, firms may have other objectives to achieve such as maximising of profits, growth and increasing its markets share. When achieving these objectives of a firm, conflicts may arise as a result of ownership and control. Managers may make their decisions on their own interests rather than achieving investors wealth. Discussing the investor related goals as described earlier, in theory behaviour of management should be consistent towards maximising shareholders wealth, enhancing the value of the business (Basely Brigham- Essentials of Managerial Finance).Value of the business is measured by valuing firms price of shares. Its essential to consider maximising of stock prices, and its impact to the investors and the economy as a whole simultaneously. Maximising profits is also an objective of a firm. It is determined by maximising the firms net profits. It is also can be described as a short term objective whilst maximising the value of the company is a long term objective for a firm (Financial Management –Kaplan Publishers 2009). Therefore it is not necessary, maximising profits as maximising shareholders wealth because there are number of potential problems can be occurred adapting to an objective of profit maximisation. It will be discussed in the latter part of the report. Earnings per share (EPS) is one of the main indicators of the firms profitability and it is a broadly used method measuring firms success, as it is determined return to equity in theory(Financial Management – Kaplan Publishers 2009).However, EPS doesnt expose the firms wealth since it is determined by using firms net profits. Therefore EPS is also exist the same criticism as profit maximisation above which will be discussing in the later part of the report. During the past ten years have seen a much greater emphasis on investor related goals. The conflict of ownership and control can be recognised as one of the significant causes which were affected investors and the world economy in the past ten years. The corporate scandals such as Enron, Maxwell and World com which occurred recent past had been lost investors confidence towards capital markets. Therefore its essential to consider the ethical behaviour and social responsibilities towards shareholder wealth maximisation simultaneously. It can also be said the institutional investors such as insurance companies and pension funds had also made a significant influence on investor related goals in the recent past. Review of Literature OBJECTIVE OF PROFIT MAXIMISATION According to Watson and Head 2007, whilst individuals manage their own cash flows, the financial manager involves in managing cash flows on behalf of the company, and its owners. In a firm financial management is concerned with taking decisions in three key areas which are financing, investing and dividend policy. Watson and Head also mentioned, shareholders wealth maximisation as the primary objective of the firm and at the same time the existence of other stakeholder groups such as creditors, employees, customers and community are also affected when adapting to a corporate goal. â€Å"However the firm may adopt one or several objectives in short term whilst its pursued the objective of shareholders wealth maximisation in long term†(Basely and Brigham; Essentials of Managerial Finance). Therefore it is essential to be considered the other possible objectives in short term as well as long term simultaneously. Reviewing one of the main objectives of profit maximisation, a classic article of Milton Friedman in the New York Times magazine 1970â€Å"The social Responsibility of Business is to Increase its profits† (Poitras, Geoffrey 1994). Considering classical views of Friedman (1970), Grant (1991), and Danley(1991), Geoffrey analysed the connection between shareholders wealth maximisation and profit maximisation, as an foundation for establishing an ethical analysis for shareholders wealth maximisation. However, Friedman had a moderate view later relating to the concept of profit maximisation towards social responsibilities. (Pradip N Khandwalla, Management paradigms beyond profit maximisation 2004) While there were similarities between these two objectives, Solomon; 1963, chp.2 highlighted the inconsistencies in his classic article (Poitras, Geoffrey 1994). Considering the above views from different authors, Geoffreys suggestion was â€Å"Even though there are significant consistencies between these two goals, the goal of profit maximisation has designed for the traditional microeconomic environment and for the firms which do not have the conflict of ownership and control. It is also assumed that its applied for the environment where there was no uncertainty and no stock issues†( Poitras, Geoffrey, 1994). According to Keown, Martin and Petty, 2008; Lasher 2008; Ross Westerfield, and Jordan; 2008, â€Å"Managers are encouraged to maximise its current stock prices by the shareholder theory, therefore the criticisms are understandable†. This approach determines the existence of agency problem towards incentive schemes, as incentives are rewarded with the continuous growth of share price and leads to an unethical behaviour of managers, towards manipulating the firms current stock prices (Daniel, Heck Shaffer). CONFLICT OF OWNERSHIP AND CONTROL The conflict of ownership and control was first identified by Adam Smith (RBS Review 1937) and he suggested that the Director cannot protect the other peoples money with the same way that he protects his money (Tony Howell; Shareholder ship model versus Stakeholder ship model). Its also mentioned in Tony and Howells article, that the separation of ownership and control make a significant influence for corporate behaviour and its deeply discussed by Berle and Means (1932). But La Porta et al. (1999) argued against Berle and Means, and he suggested â€Å"its different from the large corporations, because the shareholders of large corporations involved in corporate governance actively where managers are unaccountable† (Tony and Howell; shareholder ship model versus Stakeholder ship model). Winch (1971) suggested the goal of profit maximisation is consistent with the ethical theory of utilitarianism whilst allocating resources under different circumstances. (Poitras, Geoffrey 1994). Having considered Winchs suggestion related to the utilitarian theory and profit maximisation, Geoffreys   (1994) view was that, inter temporal behaviour is important   for firms and efficient investment has a significant affect towards maximising of profits as a result of uncertain future cash flows. It is also discussed the potential conflict of ownership and control. Therefore Geoffrey (1994) suggested the separation of ownership, the decision makers (managers) and owners (shareholders) are involved to the corporate structure. SHAREHOLDERS Vs STAKEHOLDERS Even though most of the economists and authors acknowledge the theory of shareholder wealth maximisation (Berle and Means, 1932; Friedman, 1962), other authors argued the criticisms of shareholder wealth maximisation. They argued that Shareholder Theory encourages the managers to make short term decisions and behave unethically as a result of the influence of the other stakeholders. According to Smith (2003) believed â€Å"Shareholder theory is prepared to maximise short term objectives at the expense of long term goals† (Daniel, Heck Shaffer; Journal of Applied Finance; winter 2008). However Daniel, Heck and Shaffer analysed the reasons for the criticism and the misguidance of the shareholders theory in their article about shareholder theory, â€Å"How Opponents and Proponents Both Get it Wrong?† The misguidance has been occurred as a result of pursuing a long term objective in shareholder theory. Managers should maximise the future cash flows and its important to con sider the stakeholders accordingly (Jensen, 2002; Sundaram and Inkpen, 2004a). According to Freeman (1984) a firm should consider both shareholders and stakeholders when making their business decisions. However Daniel, Heck and Shaffer describes that the stakeholder theory determines the same criticism as short term behaviour but the shareholder theory has got the protection for both shareholders and stakeholders in the long run. â€Å"Therefore stakeholder theory is not predominant to shareholder theory†. Daniel, Heck and Shaffer suggested the expected future cash flows to analyse the above scenario and they argued that its essential to undertake all the positive NPV projects to maximise shareholders wealth analysing towards maximising current stock price. If there was a goal of increasing of current share price, managers who are rewarded by incentives may attempt to boost the stock price of the firm. However Jenson (2005) and Danielson and press (2006) argued â€Å"the eff ort to increase or maintain the stock prices by management could be destroyed the long term values of the firm by manipulation, unethical behaviour, delaying NPV positive projects, reducing or not spending on research and development.† Jenson has taken Enron as an example for explaining the above scenario. The management of Enron had hidden their debts through off balance sheet activities and by manipulating the company accounts (Daniel, Heck and Shaffer). Therefore Daniel, Heck and Shaffer suggested that its essential to design strategies which are consistent with the objective of increasing future cash flows rather than adopting an objective of increasing of current stock price to maximise the wealth of shareholders. Freeman, Wicks and Parmar (2004) argued that â€Å"all the recent business scandals are oriented toward ever increasing shareholder value at the expense of other stakeholders† (Poitras, Jefforey; 1994) After a number of high profile firms collapsed i:e: Enron, WorldCom and Arthur Anderson in US and Maxwell, Polly Peck, BCCI, Barings bank in UK, its been determined the requirement of a good Corporate Governance (Tony Howell; the shareholder ship model versus stakeholder ship model). According to Tony Howell, Corporate Governance has been growing for the past 25 years and the foundation for Corporate Governance was placed, after the introduction of Cadbury report in 1992 (UK). Omran et. al.2002; Mills, 1998; Fera, 1997 suggested â€Å"the importance of Corporate Governance as a result of the new entrance of Institutional Investors to Capital markets, Globalisation of Capital markets, increase of Stakeholder and Shareholder expectations†(Tony and Howell). Analysis According to financial management theory, its assumed that the fundamental objective for a firm is to maximise shareholders wealth (Watson Head 2007).   Analysing the suggestions and arguments towards fundamental objective, it can be seen that not only in theory but also in the real world it is essential to maximise the wealth of shareholder. Analysing the objective of profit maximisation, overriding the classical economics views by Hayek (1960) and Friedman (1970), other authors, Solomon (1963) and Geoffrey (1970) argued about the criticisms associated with the objective of maximisation of profits. The conflict of short term goal of profit maximisation and long term objective of shareholder wealth maximisation can be identified as the main conflict. If a firm adapts to an objective of profit maximisation and the managers are rewarded incentives for achieving it, the agency problem could be arise. Therefore in such a situation managers may take decisions towards their own selfish interests, rather than on shareholders. Achieving their self interest managers may reduce costs by cutting research and development costs, reducing quality control measurements, reduce advertising, using lower quality materials. At the same time the NPV positive projects could also be postponed to reduce their costs to determine more profits in s hort term. Producing low quality products, losing market share, losing customer trust on their products and finally reducing financial performance could be resulted as a result of using low cost strategies. It may lead the business towards insecure stock prices in long run. The other criticism is profit maximisation does not appraise the associated risks. Therefore managers may undertake higher NPV projects to determine higher returns. â€Å"However higher the required returns, higher the risk† (Peter Atrill; Financial Management for Decision Makers, 2008). Investing on risky projects will result future cash flow problems. However, shareholders are assumed as rational investors who provide finance for firms to invest in future projects. As rational investors they require a reasonable return for their investments. Therefore it can be suggested that objective of profit maximising is different from the wealth maximising. Even though shareholder wealth maximisation is the fundamental, firms are not being able to reject the profit perspective goals, because there are stakeholder groups who is interesting about financial activities in a firm. In addition to shareholders, Managers, Employees, Customers, Suppliers, finance providers and the community at large are included in the typical stakeholder group. Therefore its essential to take account of profit maximisation within the firm. As a result of these multiple objectives managers can easily pursue their own interest. In real world, financial statements are used to assess firms performance. However, profits are defined as profit before interest and tax, profit after interest and so on. Therefore the ratio of Earnings per Share is often used instead of profit which is calculated using the net profits and the number of shares issued. Investors usually use EPS as a measurement of valuing stock. EPS is mostly used as it contains of net income of the firm, and it is also used as an indicator measuring firms future cash flows. Although the disadvantage is EPS does not determine shareholders wealth. However, firms value should be determined by the future cash flows and the risk also need to be considered which is associated to the cash flow. However as mentioned earlier, profits does not take account of risks. I:e:â€Å"Reported profit figures such as Biotechnological companies and other new economy ventures have insignificant relationship on its stock prices† (Financial Management –Kaplan Publishers, 2009). Therefore, in the short term theres an inconsistence between profit maximisation and increase in stock prices in a firm. According to Smith (1937), Berle and Means (1932) and Geoffrey (1994) the separation of ownership is involved the corporate structure. The conflict was mostly seen during the recent past, following the corporate scandals. According to Maria and William in the article of Privatisation and the Rise of Global Capital Markets (Financial Management; winter, 2000) â€Å"The past years there was significant growth in capital markets valuation, growth in security issuance as a result of the privatisation programmes†. The impacts of share issue privatisation are increasing market liquidity, pattern of share ownership (i:e: Individual and institutional investors such as Pension funds and Insurance Companies), and increasing of number of shareholders in many countries. However, globalisation was also affected on firms activities simultaneously. Therefore the firms (i:e: Enron Maxwell), which had poor Corporate Governance had the possibility to involving in unethical activities such as creative accounting and off balance sheet finance(Financial Management, Kaplan Publishers; 2009). At the same time Directors involved in high level of corporate takeover activities, achieving their personal interest such as empire building, large remuneration packages (Financial Management, Kaplan publishers; 2009). Further analysis of Stakeholder theory and Shareholder theory by different authors, Jenson â€Å"2005) and Daniel and Press (2006) argued the criticism of stakeholder theory, whilst Daniel, Heck and Shaffer (2008) and Freeman (1984) argued the importance of both shareholder and stakeholder theory. However, it can be suggested that the stakeholders play a significant role towards increasing shareholders value. As an example to motivate employees of the firm, they should be treated in a good manner by rewarding increments, bonuses and so on. Long term employee satisfaction could drive the firm towards higher performance and the development of the business by increasing higher productivity and better quality of products. Simultaneously, building up a trust among customers and acquire and maintain the industry leadership. At the same time shareholders provide finance for firms for its working capital management and noncurrent assets for its future projects. Therefore it can be seen an inter relationship and importance of shareholders and the other stakeholders. According to Peter Atrill, (Financial Management for Decision makers , 2008)â€Å"In the early years financial management theory was mainly developed as part of accounting and the suggestions and arguments were based on casual observations rather than theoretical frame work†. But after the number of high profile firms collapsed, the requirement of corporate governance occurred. Number of committees met and discussed to improve the Corporate Governance and the main concern was the conflict between shareholders interest and managers. Enron was the seventh largest listed company in US when its collapsed in 2001 as a result of manipulation of financial statements. Its affected to shareholders, more than 20000 employees worldwide, creditors and customers (Janis Sarra; St Johns Law Review ; Enrons Repercussion in Canada). The 11 titled â€Å"Sarbanes Oxley Act 2002† CONLUSION By analysing the review of literature, it can be suggested that its essential to maximise shareholder value rather than maximising profits alone. However maximising profit is also can be defined as a performance measurement of a healthy business. Extremes of profit maximisation can also be caused unethical behaviour of management towards its shareholders and stakeholders. Although, Earnings per Share inconsistent with the long term value of shareholder, its still can be used as a performance measurement, since its got firms net profit. As a result of recent corporate scandals such as Enron, WorldCom and Arthur Anderson, shareholders and other stakeholder groups had given much emphasis on corporate behaviour. The unethical and illegal behaviour of those high profiled firms were lost investor confidence of capital markets. They identified the importance of Corporate Governance which provides the â€Å"road map† for managers to follow, pursuing different objectives towards the firm (Basley Brigham). At the same time the arrival of Sarbanes Oxley Act 2002 provided investors a much more confidence and strength towards capital markets. However, stakeholders are also important for firms. They are also treated well for the to maintain a Even there are conflicts between stakeholder theory and Shareholder theory, it‘s necessary to balance these two theories. According to Cathy Haywards article (Black – hole sums; Financial Management May 2003), during the period of May 2003 the pension funds in US and UK were in a bad condition. According to the assessment of National Association of Pension Funds, there was a drop in UK pension funds by more than  £250 million in 2002. Its being told that there were many reasons for the crisis but, the huge drop in stock market during the economic down turn 2000-2003 has mainly been affected. The pensions funds are heavily depend on the dividend payments and the stability of the equity markets, as a result of the drop in share prices the pensions funds struggled to meet their obligations. References Besley Brigham â€Å"Essentials of Managerial Finance† Daniel, Heck Shaffer Journal of Applied Finance; Fall Winter 2008 – Shareholder theory,  Ã‚   â€Å"How Opponents and Proponents Both Get it Wrong?† Denzil Watson Antony Head â€Å"Corporate Finance (electronic resource): principles and practice 2007 â€Å"Management paradigms beyond profit maximisation† – Colloquium a debate by S K Chakraboty, Verghese Kurien, Jittu Singh, Mrityunjay Athreya, Arun Maira, Anu Aga, and Anil K Gupta. Maria K. Boutchkova William L. Megginson â€Å"Privatisation and Rise of Global Capital Markets† , Financial Management;   Winter, 2000, p31-76 Peter Atrill â€Å"Financial Management for Decision Makers† 5th Edition 2008 (electronic resource) Poitras, Geoffrey â€Å"Share Holder wealth Maximisation, Business ethics and social responsibility, Journal of Business Ethics; feb 1994;13,2;ABI/INFORM Global pg125 Rebecca Stratling â€Å"The Legitamacy of Corporate Social Responsibility† ; Corporate Ownership and Control; Volume 4; Issue 4, Summer 2007 Tony Ike Nwanji, Kerry E. Howell; â€Å"A review of the two main competing models of Corporate Governance: The Shareholder ship model versus the Stakeholder ship model; Corporate Ownership and Control, Volume 5, Issue 1, Fall 2007