List of Obama Gun Control Measures and Executive Orders

Rundown of Obama Gun Control Measures and Executive Orders President Barack Obamas record on firearm control is a genuinely frail one, despite the fact that he was frequently portrayedâ as the most enemy of weapon president in American history and called for additional guidelines in the wake of the various mass shootings that happened during his two terms in office. We don't need to acknowledge this bloodletting as the cost of opportunity, Obama said in 2016. The National Rifle Association once asserted Obamas fixation on firearm control knows no limits. Did You Know? Just two weapon laws endured Congress during Obamas two terms in office, and neither set extra limitations on firearm owners.â Indeed, the two weapon laws marked by Obama really extended the privileges of firearm proprietors in the United States. Endeavors to confine the size of weapon magazines, grow individual verifications of firearm purchasers and boycott firearm deals to purchasers on fear mongering watch records all neglected to go under Obama. Maybe the most critical Obama weapon control measure was not a law but rather a standard that necessary the Social Security Administration to report inability advantage beneficiaries with emotional wellness conditions to the FBI’s personal investigation framework, which is utilized to screen gun purchasers. Obamas replacement, Republican President Donald Trump, revoked the standard in 2017. Obama Gun ControlProposals Had No Teeth This isn't to imply that Obama was not disparaging of the utilization of weapons to submit the various mass shootings and demonstrations of fear mongering during his residency in the White House. An incredible inverse. Obama forcefully reprimanded the weapon campaign and the simple access to guns. <img information srcset=https://www.thoughtco.com/thmb/Eik21o6wPLfoOx6V17tYtI4wlDc=/300x0/filters:no_upscale():max_bytes(150000):strip_icc()/1280px-Minute_of_silence_at_White_House_for_Sandy_Hook_school_shooting-5c4d2c2ac9e77c0001f32229.jpg 300w, https://www.thoughtco.com/thmb/31V6Ri7AtTEqeSkYt524QQln96U=/545x0/filters:no_upscale():max_bytes(150000):strip_icc()/1280px-Minute_of_silence_at_White_House_for_Sandy_Hook_school_shooting-5c4d2c2ac9e77c0001f32229.jpg 545w, https://www.thoughtco.com/thmb/ROUWY8_Bx_zg9oM9iegK3yg2gvQ=/790x0/filters:no_upscale():max_bytes(150000):strip_icc()/1280px-Minute_of_silence_at_White_House_for_Sandy_Hook_school_shooting-5c4d2c2ac9e77c0001f32229.jpg 790w, https://www.thoughtco.com/thmb/mxpfweJzQ6kQXUe_1FyK5hfLtMo=/1280x0/filters:no_upscale():max_bytes(150000):strip_icc()/1280px-Minute_of_silence_at_White_House_for_Sandy_Hook_school_shooting-5c4d2c2ac9e77c0001f32229.jpg 1280w information src=https://www.thoughtco.com/thmb/YmSf5qm45LjTrei68GDy_7SFQ3g=/1280x854/filters:no_upscale():max_bytes(150000):strip_icc()/1280px-Minute_of_silence_at_White_House_for_Sandy_Hook_school_shooting-5c4d2c2ac9e77c0001f32229.jpg src=//:0 alt=President Barack Obama stops during a gathering to watch a snapshot of quietness for Sandy Hook Victims class=lazyload information click-tracked=true information img-lightbox=true information expand=300 id=mntl-sc-square image_1-0-10 information following container=true /> President Barack Obama stops during a gathering to watch a snapshot of quietness for Sandy Hook Victims. Pete Souza/Wikimedia Commons Obama additionally made diminishing weapon viciousness a focal topic of hisâ second-term agendaâ after theâ mass taking shots at Sandy Hook Elementary Schoolâ in Newtown, Conn., in December 2012. The president signedâ executive ordersâ calling for mandatoryâ criminal record verifications on firearm buyersâ and a few different estimates that were disagreeable in Congress includingâ a prohibition on ambush weaponsâ and high-limit magazines. In any case, he couldn't win entry ofâ new laws and demanded specialists accomplish more to authorize gauges as of now on the books. Official Actions Not Executive Orders Pundits, notwithstanding, point to Obamas issuance of 23 official activities on weapon viciousness in January 2016 as verification that the Democratic president was hostile to firearm. What most neglect to bring up is that those official activities contained no new laws or guidelines; and they were not official requests, which are not quite the same as official actions.â For all the grandeur and function, nothing in the president’s recommendations is going to place a scratch in U.S. firearm wrongdoing or even significantly change the government legitimate landscape. In that sense, paralyzed adversaries and excited supporters are both likely overcompensating, wrote Adam Bates, aâ policy expert with the libertarian Cato Institutes Project on Criminal Justice. Weapon Laws Signed by Obama Expanded Rights During his first term, Obama didnt require any major new limitation on weapons or firearm proprietors. Rather, he encouraged specialists to implement the state and government laws as of now on the books. In certainty, Obama marked just two significant laws that address how firearms are conveyed in America, and both really extend the privileges of weapon proprietors. One of the laws permits firearm proprietors to convey weapons in national stops; that law produced results in February 2012 and supplanted President Ronald Reagans approach of required firearms be secured glove compartments of trunks of vehicles that enter national parks. Another weapon law marked by Obama permits Amtrak travelers to convey firearms in checked things, a move that turned around a measure set up after the psychological militant assaults of Sept. 11, 2001. A Strong Tradition of Gun Ownership Obama frequently specifies the development of firearm rights under those two laws. He wrote in 2011: In this nation, we have a solid convention of firearm possession that is given from age to age. Chasing and shooting are a piece of our national legacy. Also, truth be told, my organization has not abridged the privileges of firearm proprietors it has extended them, including permitting individuals to convey their weapons in national parks and Obama over and over communicated support for the Second Amendment, clarifying that On the off chance that you’ve got a rifle, you’ve got a shotgun, you’ve got a weapon in your home, I’m not removing it. National Rifle Association HammersObama During the 2008 presidential battle, the NRA Political Victory Fund sent out a huge number of pamphlets to firearm proprietors and similarly invested voters that blamed Obama for lying about his situation on weapon control. The handout read: Barack Obama would be the most enemy of firearm president in American history. Representative Obama says words matter. In any case, with regards to your Even however the president didnt sign a solitary bill into law constraining the utilization or acquisition of firearms the NRA Political Victory Fund kept on notice its individuals and similarly invested voters during the 2012 political race that Obama would make weapons an objective in a subsequent term. On the off chance that Barack Obama wins a The NRA Political Victory Fund likewise dishonestly guaranteed that Obama had consented to give the United Nations authority over the weapons possessed by Americans, saying: Obama has just supported pushing forward toward a U.N. weapon boycott settlement and will probably sign it after it’s arranged.

55 Boxing Idioms

55 Boxing Idioms 55 Boxing Idioms 55 Boxing Idioms By Mark Nichol Notwithstanding the melting away prominence of pugilism, or the sweet science, as boxing is likewise called, the game has contributed various beautiful words, expressions, and articulations messed up with regards to its present height among athletic undertakings. Here is a rundown of figures of speech that began in boxing and were thusly stretched out to the world outside the square ring. 1. exposed knuckle: savage or decided (from boxing managed without gloves) 2. beat (somebody) to the punch: achieve something before another person does 3. pass up blow: a nitty gritty record (alluding to discourse during a bout) 4. bounce and weave: be equivocal (as a fighter dodging to keep away from an opponent’s blows) 5â€6. emerge ready to take care of business/swinging: be promptly forceful or enthusiastic 7â€10. convey/land a (knockout) blow/punch: hit 11. done for: penniless (a similarity to a fighter who has been wrecked and stays still) 12â€13. down/done for: crushed or survive (as a fighter who has used up all available time to stand up in the wake of being wrecked) 14â€15. drop/remove the gloves: relinquish consideration (from the act of utilizing exposed clench hands instead of gloves) 16. duke it out: contend (likely from dukes as rhyming slang for clench hands; â€Å"duke of Yorks† was fill in for forks as slang for fingers or hands) 17. glass jaw: weakness (from a reference to the objective point on a fighter that is generally delicate) 18. go down swinging: continue (from the thought of a fighter battling up to where the person is taken out) 19. have (somebody) in your corner: have a partner (from the boxer’s bolster group, situated in an edge of the ring) 20. overwhelming hitter: a powerful individual or other element (from the term for a fighter who lands especially hard punches) 21. heavyweight: see â€Å"heavy hitter† (from the boxing and wrestling weight class) 22. hit disgraceful: act unreasonably (from the demonstration of handling a blow underneath an opponent’s midsection) 23. in-battling: strife inside a gathering (from the term for taking care of close) 24. keep (one’s) monitor up: remain alert (from securing one’s face with a gloved hand) 25. kisser: lips 26â€28. knockout/KO: an unequivocal blow; a knockout is likewise an extremely alluring or noteworthy individual 29. lead with (one’s) jaw: face a challenge (from the imprudent demonstration of uncovering one’s jawline) 30. lightweight: an irrelevant individual or substance (from the boxing and wrestling weight class) 31. low blow: a destructive or uncalled for activity or remark (see â€Å"below the belt†) 32. on the ropes: in a tough situation (a similarity to a depleted fighter who is clinging to a rope on the border of the ring) 33. one-two punch: a mix or succession of two effective things 34. pull (one’s) punches: keep away from utilizing full power or full assets (as when a fighter doesn't utilize their full quality) 35â€36. dazed/punchy: stunned or exhausted (from the idea of a fighter bewildered from getting various blows) 37. set up your dukes: said by somebody as a challenge to battle (see â€Å"duke it out†) 38. ringside seat: a position near an occurrence or occasion or chain of occasions 39. move with the punches: be adaptable (from the possibility of a fighter staying moving regardless of having gotten rehashed blows) 40. cycle: one of a progression of exercises or occasions (from the name of a timeframe during a bout) 41. bailed out by luck: saved from trouble at last (from the ringer rung toward the finish of a round in boxing) 42. dazed: see â€Å"punch-tipsy/punchy† 43. slugfest: an actually or allegorically confrontational occasion 44. fight: battle or contest (from the term for a boxing move, utilized in the expressions â€Å"sparring match† and â€Å"sparring partner†) 45. get down to business: get ready for struggle (from the convention of fighters standing confronting each other toward the start of a match) 46. in a very direct way: immediate and straightforward (a similarity to a blow conveyed utilizing one’s full quality) 47. sucker punch: an unforeseen blow 48. take a plunge: come up short (from the slang expression alluding to a fighter falling in the wake of being struck) 49. endure it: confront analysis (from the possibility of a fighter accepting a blow on the jawline without falling) 50. the gloves are off: said when somebody starts to act brutally (regarding boxing without gloves) 51â€53. put/toss/hurl (one’s) cap into the ring: issue a test or demonstrate one’s enthusiasm for taking an interest (from the custom of a challenger tossing his cap into a boxing ring when a fighter takes on irregular adversaries) 54. quit: surrender (from the custom of an individual from a boxer’s bolster group hurling a towel into the ring to show that the fighter yields rout) 55. undercard: a subordinate action or occasion in an arrangement (from the term for the classification of at least one fights going before the highlighted session) Need to improve your English in a short time a day? Get a membership and begin getting our composing tips and activities day by day! Continue learning! Peruse the Expressions class, check our well known posts, or pick a related post below:25 Subordinating ConjunctionsGratitude or Gratefulness?The Two Sounds of G

How to Buy PowerPoint Presentations on CD-ROM

How to Buy PowerPoint Presentations on CD-ROMFor the best learning experience, you should buy PowerPoint presentations on CD-ROM. This type of presentation format is widely used by teachers because it's easy to learn and remember. It also saves storage space since you won't have to write notes on paper. One thing to remember is that it will take more time to develop your own presentation.If you're looking for a way to teach your students to use PowerPoint without spending money, a good option is to buy PowerPoint presentations on CD-ROM. In addition, the instructors can teach other students by using the presentation. To make it easy, you can read the CD-ROM instructions so that you can make your presentation quicker.There are many ways you can buy PowerPoint presentations on CD-ROM. The two most common ways are over the Internet and through an instructor at a university or college. The prices vary depending on the internet and the number of CDs you order. You also need to consider sh ipping and handling fees.Video downloads allow you to view the presentation immediately as soon as you order it. Just make sure you have a high-speed Internet connection and that the quality of the video is good. Some websites will not accept your order unless you pay for the video to download. If you do not want to pay for video downloads, just make sure you view your presentation on your computer screen, no matter where you order it from.Instructors who sell their instructors' presentations online usually charge a flat rate based on the number of copies ordered. Because they're often small, they cost less than larger packages. But, you'll be charged shipping fees. By going this route, you'll also have to factor in time spent ordering the presentation since it takes time to go from your computer to the sales clerk at the sales location.It's better to buy PowerPoint presentations on CD-ROM from an instructor who will give you a teacher discount. The best discounts are offered by ins tructors who are selling a big package. Usually, the instructor has purchased several packages in the past and sells them in bulk to cut down on costs. Also, if you're ordering from a bookstore, they have to get their books in bulk to make money on them.For courses students need to watch all at once, you can order as many CDs as you need. There's a good chance that there will be more orders made when you package them together in one box. The only drawback to this option is that you won't be able to control the speed of the presentation.When it comes to buying presentations, it's always a good idea to buy them online. You should know that there will be many sites that will let you buy them for free. On the flip side, you may also find that they are actually selling them for a lower price.

Creating an Inspiring Topics For Presentations

<h1>Creating an Inspiring Topics For Presentations</h1><p>There are an assortment of motivating points for introductions. It truly relies upon what you want to accomplish from the event.</p><p></p><p>In this article I will give a few instances of moving subjects for introductions that you can utilize. There are some reasonable models, however I accept that you will be motivated to go past the handy and build up your own and expert point of view. You should observe these means so as to boost your odds of progress with moving points for presentations.</p><p></p><p>If you wish to give a moving discourse, you can begin by building up a rundown of subjects you might want to talk about. These will in all probability change dependent on the topic of your discourse. Subsequent to working out your rundown, the time has come to set up the discourse. Set up the discourse as though you were conveying a discourse on the podium.< /p><p></p><p>A great beginning stage is to just experience what it feels like to be in front of an audience. Take a stab at giving the discourse and perceive how it streams. Utilizing the experience you gain from the experience, you would then be able to fuse the thoughts you assembled from that experience into your speech.</p><p></p><p>Once you have arranged a discourse that streams and is stream like, you can give the individual data you gathered from your experience. Try not to be hesitant to take on points that you may not be comfortable with. Take a touch of the encounters and considerations you accumulated during your own exploration and assemble an entirely different story around them. This will permit you to associate the individual encounters to the subjects you will be presenting.</p><p></p><p>If you are going to give a rousing points for introductions, one thing you ought to stay away from is by and larg e excessively specialized. On the off chance that you go excessively specialized, it will deliver your discourse dry and uninteresting. For a few, it may appear as though you aren't following a specific theme, yet that is on the grounds that you aren't. On the off chance that you give an intriguing, streaming discourse with words you can identify with, your crowd will appreciate what you are saying.</p><p></p><p>Inspirational subjects for introductions can take numerous structures. You don't need to stress over making a discourse that will just get the response you want.</p>

Preparing For the Essay Topics Islamic Studies Exam

<h1>Preparing For the Essay Topics Islamic Studies Exam</h1><p>The things that you can do to ensure that you will have the option to finish the Don Quijote paper themes Islamic examinations is basic and simple. You more likely than not known this as of now in the event that you have just taken the test. This will assist you with concentrating more on the nuts and bolts of the test, without letting your insight to run off of the ground.</p><p></p><p>There are numerous things that you should know whether you need to be a piece of the Don Quijote program. The program expects you to pay for their educational cost and consequently, you can get all the advantages that they offer. In any case, this doesn't imply that they are swindling you out of any money.</p><p></p><p>The purpose behind this is they are utilizing enormous courses and no opportunity to converse with you on the telephone. You should simply join with them, sit for the test and when it's finished, the exact opposite thing you need is an announcement of fruition from your telephone. They are very keen on giving their 'help' to you, however not in giving you a receipt from them.</p><p></p><p>The Don Quijote article subjects Islamic examinations is simple, yet the activity for you as a candidate, is to locate the right answers that they give you. You should do this since they need the correct answers with the goal that they can utilize it in the assessment. Since there are numerous subjects on which you should get some information, you should make a note of these topics.</p><p></p><p>The Don Quijote ought to furnish you with enough data about these themes, yet you should likewise gain admittance to the conversation gatherings on the web. The conversation discussions are gatherings where individuals assemble to discuss themes, questions and different things that are identified with the subjects that you concentrated in the course. On the off chance that you will just get some information about the subject, they probably won't have sufficient opportunity to do as such, and on the off chance that you will just get some information about what they are discussing, they probably won't have the option to give you any privilege answers.</p><p></p><p>However, on the off chance that you would get an indication about the conversations made in the gatherings, you would have the option to reason which are the correct answers and that are an inappropriate ones. This will assist you with getting ready for the inquiries that will be posed by the teacher, while staying away from the appropriate responses that will misunderstand you. You will have the option to discover the conversation discussions just by experiencing the official site of the Don Quijote program.</p><p></p><p>While doing the planning, you can experience the projects with the expectation that you will have the option to get a decent comprehension of the points, however this isn't the way that you ought to go. Ensure that you do the readiness as well as possible. Ensure that you are truly decided about doing it, and after this, you will have the option to settle on all the decisions, and will have a superior comprehension of the examination materials and furthermore the paper themes Islamic studies.</p>

What You Need To Know About Critical Response Essay Examples

What You Need To Know About Critical Response Essay ExamplesIn any business, you need to write a critical response essay. It is your duty to speak out against the actions and decisions of an employer or supervisor. You should also be able to identify the factors that affect the performance of the people who are working for you.If you want to master critical response essay writing, you need to make sure that the required responses are not at odds with what you believe to be true. There are, however, some specific steps that you can follow to ensure that you are able to make use of essay samples with greater proficiency.A critical response essay will present a strong argument for your position. You should try to write it from a point of view that is reasonable only to yourself. You should also find ways to check whether your own points are correct. For example, if you are arguing that there is a demand for quality employees, then you need to check whether you believe it to be true.A cr itical response essay can have flaws, so you should not accept anything written by someone else. However, you should be able to identify the flaws so that you can find ways to rectify them. Be prepared to fix the flaws if you do not succeed in making them into strengths.It is possible to present a critical response essay that is not accepted by the employer. You need to make sure that you are aware of the rules that govern the writing. You should find ways to be a part of these rules. This way, you will be able to help your essay to have more chances to be accepted.If you want to convince an employer that you are not right for the job, then you should write a critical response essay that involves questioning the employer's judgment. Try to show how you could be an improvement over the current employee. Instead of basing your argument on facts, use your judgment and reasoning skills to discuss the reasons why you are the right person. However, do not use facts that are outdated or do not hold true anymore. Always try to avoid presenting arguments based on faulty facts.You should also make sure that your essay will not bring about the opposite of what it is trying to achieve, and this means that your argument should not only support your own point of view, but should also defend the employers' point of view. If your point of view or strategy does not seem to be relevant to the employer, then they may be ready to go for another candidate. Employers are very sensitive when it comes to their employees' skills and opinions. If they do not like the way that you present your case, they may think of moving on to another candidate.There are many essay samples available in the internet. You should make sure that you are able to find one that will suit your needs and personality. Essay samples are not perfect, but they will help you craft a critical response essay.

Industrial Relations And Human Resource Management Finance Essay - Free Essay Example

Abstract The aim of this paper is to explore and review some of the scholars research work on corporate governance and how it impacted the labour management. The paper examined various literature reviews on shareholders model of corporate governance and further explained different types of governance practices in the world in relation to employee management. The interest of investors is to maximize profit and minimize cost while that of employee is for consistent and increase in wages and salary. There are diverse views and opinions on the impact of corporate governance on labour management; some have adverse while some are favourable. We concluded that, the effect on labour management varies with the strength of labour. Keywords: Corporate governance, shareholders and labour management Introduction Corporate governance has successfully attracted the interest of the public because of its obvious importance and relevance to the economy and society at large. Although, the concept of corporate governance is poorly defined because it covers a large number of different economic phenomenon. Corporate governance has long been a subject of considerable interest and controversy, but debates and theories on this topic have become much more prominent in advance economies over the years. As a result, different people have come up with different definitions that basically reflect their special interest in the field. Corporate governance is the relationship among stakeholders in the process of decision making and control over firm resources. The three critical stakeholders are capital, labour and management. There are basically two different models of the corporate governance: the shareholder model and the stakeholder model. Shareholder model of corporate governance can be described as the formal system of accountability of senior management to shareholders while the Stakeholder model of corporate governance can be used to describe the network of formal and informal relations involving the corporation. The role of labour in corporate governance has been less of a focus but recently there is a growing need of bringing both corporate governance and labour 2 relations systems together. This study focuses on labour management and how the shareholder model of corporate governance impacts labour management. Literature review Corporate governance has been argued to have started from the recognition of the centrality of corporate enterprises for allocating resources in the economy. Corporate governance play a vital role in shaping the outcome of the economy through decisions such as investment, employment and trade, the process through which corporate revenues/returns are allocated impacts the performance of the economy as a whole (OSullivan, 2003). Corporate governance boarders around institutions that influence business corporations distribute their revenues and returns (OSullivan, 2003). The positive effect of corporate governance on different stakeholders ultimately is a strengthened economy, and hence good corporate governance is a tool for socio-economic development. The parties involved in corporate governance include the regulatory body (e.g. the Chief Executive Officer, the board of directors, management, shareholders and Auditors). Other stakeholders who take part are suppliers, employees, credit ors, customers and the community at large. Corporate governance is the system by which business corporations are directed and controlled. The corporate governance structure specifies the distribution of rights and responsibilities among different participants in the corporation, such as, the board, managers, shareholders and other stakeholders, and spells out the rules and procedures for making decisions on corporate affairs. By doing this, it also provides the structure through which the company objectives are set, and the means of attaining those objectives and monitoring performance, OECD Principles of Corporate Governance (1999). Goodijk (2007) highlighted several theories in his research on how corporate governance has been affected: The agency theory is based on the separation of ownership and control and identifies the agency relationship where one party, the owner, delegates work to another party, the agent/management. The companys management is considered to operate on behalf of the principles but the agency may not always act in the best interests of the principal. The company is therefore seen as nexus of contracts. 3 The theory of transaction cost economics is focused on the company as a governance structure and an undertaking transactions (cost reductions) internally. The stakeholder theory takes account of a wider group of constituents instead of focusing on shareholders. The management is challenged to make the balancing act, to meet the pluralistic claims of all the different stakeholders. Stewardship theory as explained by Rienk refers to directors who are regarded as stewards to the companys assets and act in the best interest of shareholders and taking into account the environmental dependencies and uncertainties. Corporate governance is the set of processes, customs, policies, laws, and institutions affecting the way a corporation (or company) is directed, administered or controlled. Corporate governance also includes the relationships among the many stakeholders involved and the goals for which the corporation is governed (OSullivan, 2003). The principal stakeholders are the shareholders, the board of directors, executives, employees, customers, creditors, suppliers, and the community at large. The major importance of corporate governance is to ensure the accountability of certain individuals in an organisation through mechanisms that try to reduce or the principal agent problem. Goodijk (2007) explained in his research that corporate governance focuses on three main areas: The functioning and quality of the board The functioning and quality of supervision The accountability to shareholder and stakeholder Corporate governance is a question of performance accountability (Demb and Neubauer, 1992). To improve the transparency, involvement and accountability of corporate governance, the Europeans emphasis on putting relationships and involving stakeholders while the Anglo Saxon countries (USA and UK) focusing on the shareholder value maximization. Corporate governance is one key way of improving microeconomic efficiency and focuses on the relationships and interactions between capital, management and labour (Maher and Andersson, 1999; Aguilera and Jackson, 2003). Aguilera and Jackson found out that despite that corporate governance is 4 concerned with the structure of rights and responsibilities among the parties with a stake in the firm yet there is still diversity of practices around the world nearly defies a common definition. In the UK and US, corporate governance is characterized by dispersed ownership where markets for corporate control, legal regulation and contractual incentives and key governance mechanisms. In continental Europe and Japan, blockholders like banks and families retain greater capacity to exercise direct control and, thus operate in a context with fewer market-oriented rules for closure, weaker managerial incentives, and greater supply of debt. Corporate Governance Model There are many different models of corporate governance around the world. These differ according to the variety of capitalism in which they are embedded. OSullivan (2003) explained the liberal model that is common in Anglo-American countries tends to give priority to the interests of shareholders. The coordinated model that one finds in Continental Europe and Japan also recognizes the interests of workers, managers, suppliers, customers, and the community. Each model has its own distinct competitive advantage. The liberal model of corporate governance encourages radical innovation and cost competition, whereas the coordinated model of corporate governance facilitates incremental innovation and quality competition (OSullivan, 2003). However, there are important differences between the U.S. recent approach to governance issues and what has happened in the UK. Maher and Andersson (1999) found out that in the United States, a corporation is governed by a board of directors, which has the power to choose an executive officer, usually known as the chief executive officer. The CEO has broad power to manage the corporation on a daily basis, but needs to get board approval for certain major actions, such as hiring his/her immediate subordinates, raising money, acquiring another company, major capital expansions, or other expensive projects. Some of the other duties of the board may include policy setting, decision making, monitoring managements performance, or corporate control. The board of directors is nominally selected by and responsible to the shareholders, but the bylaws of many companies make it difficult for all but the largest shareholders to have any influence over the makeup of the board Maher and Andersson (1999). 5 Codes of Good Governance Since the establishment of UK Cadbury Code in 1992, each country worldwide has introduced and revised corporate governance codes. The European countries use the principle based codes and the US Sarbanes Oxley Act uses the rules-based legislation (Goodijk, 2007). Generally there are sets of best practice recommendations regarding the behaviour within and the structure of the board, the information disclosure, transparency and accountability, the selection and remuneration of directors and the relationship with shareholders and the stakeholders. There are diversities in the European codes, nevertheless, Europeans codes represent certain characteristics that are fundamental to good corporate governance such as: how to increase shareholders influence, how to improve the board performance, how to take into account the other stakeholder interest. One of the European corporate governance codes is the OECD principles (OECD Principles of Corporate Governance, 1999). The OECD recognizes that one size does not fit all: there is no single model of corporate governance that is applicable to all countries. The OECD principles pay special attention to the minority shareholders rights. The OECD principles include on the principle the stakeholders in corporate governance. The principles state that the corporate governance framework should recognize the rights of stakeholders established by law or through mutual agreements and encourage active co-operation between corporations and stakeholders in creating wealth, jobs and sustainability of financial sound enterprises. Goodijk (2007) explained the difference between the Anglo-Saxon and European approach to corporate governance. In the Anglo-Saxon approach, the view of the company is instrumental while European approach view is institutional. Market-oriented with independent shareholders versus network-orientation Dispersed share-ownership versus high ownership concentration The outsider or the insider system The leadership culture versus countervailing powers 6 The conflict versus consensus orientation Short-term versus long-term results/relationships Principle-based versus rules-based solutions Focus on direct employee participation or representative involvement Corporate governance in Continental Europe can be characterized by the following issues; principle-based codes, diversity and tailor made solutions, a broad stakeholder approach, a strong network orientation and an inside system model, with more focus on the balancing act, the labour relations and the employees participation and getting consensus (Goodijk, 2007). Recent literatures show that there is an increasing trend towards more convergence on corporate governance issues: Increased basic shareholder rights Shareholders making more use of their right to vote More independence of outside directors within the board Having key board committees Paying attention to both share and stakeholders. Shareholders model: There is no single model of corporate governance. Governance practices vary not only across countries but also across firms and industry sectors. However, one of the most striking differences between countries corporate governance systems is in the ownership and control of firms that exist across countries. Systems of corporate governance can be distinguished according to the degree of ownership and control and the identity of controlling shareholders. Olivier (2000) explained that shareholders are the first stakeholder and they are individuals who own stock / shares in a company with the aim of making profit. If the company does well, they stand to make money based on how many shares they invested. However, if the company does badly, then the shareholder stands to lose his/her investment. The shareholder model explains the purpose of the corporation is to promote shareholder 7 value and to serve a wider range of interests. Shareholder model of corporate governance is known as the formal system of accountability of senior management to other shareholders. Shareholders model has a narrow view of relating investor with business manager on like the stakeholder model that takes a broader view of the firm. Olivier (2000) explained that shareholders are the first stakeholder and they are individuals who own stock / shares in a company with the aim of making profit. If the company does well, they stand to make money based on how many shares they invested. However, if the company does badly, then the shareholder stands to lose his/her investment. The shareholder model explains the purpose of the corporation is to promote shareholder value and to serve a wider range of interests According to the shareholder model, the main objectives of any firm is to maximize shareholder wealth through effective and efficient allocation of resources in a productive and dynamic ways, this is to say, that the objective of the firm is to maximize profits (Maher and Anderson, 1999). Shareholders cannot achieve these objectives in isolation without the full involvement of business manager. Therefore, managers and directors have an implicit obligation to ensure that firms are run in the interests of shareholders. This is an underline problem of corporate governance which the principal-agent relationship arise from the separation of beneficial ownership and executive decision-making. The bane of this problem is the conflict of interest between the shareholders and managers. Investors are interested in maximizing shareholder value; managers may have other objectives such as maximizing their salaries. According to Maher and Anderson (1999), the interests and objectives of the princi pal (the investors) and the agent (the managers) differ when there is a separation of ownership and control. Since the managers are not the owners of the firm they do not bear the full costs, or reap the full benefits, of their actions. Corporate Governance and Labour Management It should be recalled that there is an interaction between capital, management and labour (Aguilera and Jackson, 2003). The omission of labour in most literatures of corporate governance mirrors weak employee involvement in the United States relative to that in economies such as Germany or Japan where the participation of labour is politically important and most times a basis of competitive advantage (Blair Roe, 1999; Parkinson Kelly 2001; Aguilera Jackson, 2003). The role of employees in corporate governance is assumed to relate to their ability to 8 influence corporate decision making and control firms resources. There are some rules which limit managerial authority: shop floor-level job control, collective bargaining, and labour law (Marsden, 1999; Tilly Tilly, 1998; Aguilera Jackson, 2003). Aguilera and Jackson (2003) came up with a model that focuses on two vital dimensions that defines the relationship of an employee to making corporate decisions, these dimensions are: à ¢Ã¢â€š ¬Ã‚ ¢ Employees strategies of internal participation versus external control this dimension explain how employees describe their interests in relation to corporate decision making. The external control refers to situations where management has the right to decision making. This is where the employees seek to control the firms decision externally by assuming threats such as strikes. The representation of an employee is independent of management and preserved in strict separation from cooperative institutions that engage labour in the decision making of the firm. Employees also can participate in the firms decision making internally through internal channels of decision making to co-determine management actions (Streeck, 2001). This participation of employees does not stop the authority of managers but aims at democratizing decisions. Internal participation tends to have strong integrative functions, encouraging consensus and cooperation in the implementation of decisions. Portable versus firm-specific skills when the employee skills are portable across the firms or when investments are low, employees may favour exit over voice in response to grievances. On the contrary, when employee skills are firm-specific, their greater dependence on the firm makes the option to exit more difficult (Williamson, Watcher, Harris, 1975). When employees invest in firm-specific skills thus create incentives to exercise voice in how those skills are formed and deployed. Employees may have interest in the safeguarding the organization and their job security. Therefore, similar to the liquidity or commitment of capital, skills influence the degree to which employees have a stake in the firm (Aguilera Jackson, 2003). Aguilera and Jackson (2003) explained that the extent of which the internal participation/external control and portable/firm-specific skills within the firm is shaped by three sets of institutions. These are: the firm-level representation rights given to workers, the organisation of unions and the institutions of skills formation. 9 1. Firm-level representation rights it is said that labour struggled to gain collective rights to representation of firm decisions. The recognition of the right to organise is the most fundamental of these, giving employees individual rights to voluntarily elect their own representation and compelling management to bargain over a prescribed range of issues. Nevertheless, representation rights differ greatly in their strength and scope which ranges from rights to information, consultation and codetermination. Such rights also vary according to the type of decision at hand and the source enacting the rights. The representation rights influence labours relation to corporate governance. An institutional setting with weak representation rights does not provide channels to represent employees within firms decision making. Institutional setting characterized by strong representation rights such as Germany, provide formal internal channels to give labour a voice in the firms decision making by providing legal rights to information, consultation and codetermination in key decisions. Employee ownership is an additional means of establishing representation rights, but through the alternate channel of property rights (Aguilera and Jackson, 2003). The organisation of unions research explains that union organisation will shape the relation of labour to the firm. The interest of employees is defined in relation to their individual and collective identities, as well as according to how their interests are organised and institutionalized. Union organisation is seen is three models: class, occupation and enterprise (Dore, 1973;). Regarding the corporate governance, these models influence employee orientations toward internal participation in corporate decisions and external control. The class based unions such as political and industrial unions tend to favour strategies of external control. The industrial unions are skeptical in participating in institutions that blur the boundaries of management and labour. They tend to favour centralized collective bargaining that restricts the discretion of individual firms through external control (Aguilera and Jackson, 2003). Unions that are craft based with particular sets of qualifications tend to support external strategies of control because their interest in linked to uniform compensation of their particular skill/professional 10 qualifications across enterprises. In an organisation, craft unions may break away from representation with the firm and follow their members collective interest irrespective of the fate of the individual firm. In contrast, enterprise-based unions recruit members among employees within a particular firm and support internal participation. Basically, it union is aimed at the preservation of long-term employment contracts and the regulation of internal promotion prospects. Countries with predominantly class-based and craft-based unionism, labour tends to pursue strategies of external control while countries with predominantly enterprise-based forms of unionism, labour tend to pursue strategies of internal participation (Aguilera and Jackson, 2003). Skill formation this affect corporate governance because of the portability or firm-specific nature of skill investments influences the relation of employees to the firm. In the United States, on-the-job training and markets is used to generate employee skills (Brown et al., 1997). Skill formation outside the firm makes the firm less dependent on employees and hence, employees will have less capacity to influence firm decisions through internal channels. In the high skilled segment of the U.S. economy, firms draw on the portable skills of professional employees whose skills were acquired outside the firm. In countries like Germany and Japan, high skilled production workers are greatly generated. In Japan, training is a part of a firm investment in firm-specific skills which reward employees with elaborate internal promotion systems (Culpepper Finegold, 1999; Thelen Kume, 2002). In Germany, training system is rooted in corporatists arrangements among employer associations, industr ial unions and the State. Firm participates in occupational training in order to create widely certified skills that are portable across the firm. However, skill formation outside the firm will make the firm less dependent on employees and hence, employees will have less capacity to influence firm decision through internal participation (Aguilera and Jackson, 2003). 11 Impact of shareholders model of Corporate Governance on labour management Gospel and Pendleton (2003) discuss different sources of corporate governance influence on labour management. These sources are types of finance, objectives of finance providers and the intervention rights and practices associated with different forms of finance (Gospel and Pendleton, 2003: 558). Corporate governance is closely related to finance. It was further highlighted that there are different sources of finance: internal funds, debt and equity. Howard and Andrew (2005) stated that firms most times rely on internally generated funds; but from time to time firms have had to raise capital from external source. Debt is considered a constraint but were large and long-term, debt may draw lenders into a close relationship with the management (Stiglitz, 1985). Share equity can also be considered as a limitation-when the shareholders are many and small, investors may compensate for weakness in their relationship with mangers by exerting pressure through market trading (Howard and Andrew , 2005). The shareholder model of corporate governance is said to have adverse effects on labour management In Anglo-American economies, labour is weak and labour suffers from moves to reduce workforces. The attempt of firm to enhance shareholder value has led to the damaging impacts on labour. This is because the capacity of firms to achieve real increases in return is highly limited (Gospel and Pendleton, 2003). Time-frame is another way in which labour management suffers pressure. The time frame of managerial decisions depends on the different types of shareholder model. The required payback period for employees investments is longer in internal systems than outside systems. The nature of business strategies, the importance ascribed to financial factors in decision making, the approach to securing managerial and employee commitment and the degree of co-operation with other firms all these have a way of influencing the decisions of management positively or negatively (Gospel and Pendleton, 2003). They contribute to the variations in decision making of corporate governance. According to Maher and Andersson (1999) the shareholder model corporate governance is primarily concerned with finding ways to align the interests of managers with those of investors, with ensuring the flow of external funds to firms and that financiers get a return on their investment. An effective corporate governance framework can minimise the agency costs and hold-up problems associated with the separation of ownership and control. 12 Maher and Andersson (1999) highlighted three types of mechanisms that can be used to align the interests and objectives of managers with those of shareholders: Managers are to carry out efficient management by directly aligning managers interests with those of shareholders e.g. Executive compensation plans, stock options, direct monitoring by boards, etc. Another method involves the strengthening of shareholders rights so shareholders have both a greater incentive and ability to monitor management. This approach enhances the rights of investors through legal protection from expropriation by managers e.g. Protection and enforcement of shareholder rights, prohibitions against insider-dealing, etc. To use indirect means of corporate control such as that provided by capital markets, managerial labour markets, and markets for corporate control e.g. take-overs. Maher and Andersson (1999) further explained that the ownership concentration is so prevalent as the dominant organisational firm, this is because it is one way of resolving the monitoring problem. According to the principle-agent model, due to the divergence of interests and objectives of managers and shareholders, one would expect the separation of ownership and control to have damaging effects on the performance of firms. Therefore, one way of overcoming this problem is through direct shareholder monitoring via concentrated ownership. The difficulty with dispersed ownership is that the incentives to monitor management are weak. Shareholders have an incentive to free-ride in the hope that other shareholders will do the monitoring. This is because the benefits from monitoring are shared with all shareholders, whereas, the full costs of monitoring are incurred by those who monitor (Maher and Andersson, 1999). These free-rider problems do not arise with concentrated ownership, since t he majority shareholder captures most of the benefits associated with his monitoring efforts. Therefore, for the closely held corporation the problem of corporate governance is not mainly about general shareholder protection or monitoring issues. The problem is said to be more one of cross shareholdings, holding companies and pyramids, or other mechanisms that dominant shareholders use to exercise control, often at the expense of minority investors (Maher and Andersson, 1999). The protection of minority shareholders becomes more critical in this case. Maher and Andersson (1999) claim that one of the issues that arise in this context is how do policy makers develop reforms that do not disenfranchise majority shareholders while at the same time protect the interests of minority shareholders. 13 Another analysis of the shareholder approach by Maher and Andersson (1999) is that the analytical focus on how to solve the corporate governance problem is too narrow. The shareholder approach to corporate governance is primarily concerned with aligning the interests of managers and shareholders and with ensuring the flow of external capital firms. Nevertheless, shareholders are not the only ones who make investments in the corporation. The competitiveness and ultimate success of a corporation is the result of teamwork that embodies contributions from a range of different resource providers including investors, employees, creditors, suppliers, distributors, and customers. Corporate governance and economic performance will be affected by the relationships among these various stakeholders in the firm. According to Howard and Andrew (2005), there have been debates about corporate governance whether or not the nature of corporate governance exists exclusively or even primarily to promote the interest of shareholders, whether the maximization of returns for shareholders leads to losses for other stakeholders, and whether recent trends have increasingly creates unfair remuneration for senior executives. As a result, debates of corporate governance have taken place in business and political circles in many countries including United States, United Kingdom, France, Germany, Italy, Netherlands and Japan over the past ten years, and most have embarked on programmes to reform aspects of corporate governance (Howard and Andrew, 2005). In time past, there have been various debates about changes in employment and industrial systems. In countries such as the United States and United Kingdom, there has been a clear increase in job insecurity, goring pay inequality, and erosion of benefits such as final salary pensions (Gospel and Pendleton, 2003). This has attributed to a decline in employee say at work and claim of managerial rights. Howard and Andrew explained further that in Germany, there have been which debates centres around whether a system of employee voice through works councils at the workplace and collective bargaining at the industry level can continue to exist in a context where financial pressures on firms have intensified and where some argued a need for major changes in corporate governance. In Japan also, the system of lifetime employment is said to be under great risk, pay is being driven by market forces, and effective employee voice mechanisms are weakening (Howard and Andrew, 2005). In his framework, theories have concluded that the financing and governance of the firm and the management of labour interrelated (Gospel and Pendleton, 2003). 14 Howard and Andrew (2005) states that the management of labour covers a set of major decisions and resulting outcomes. These decisions cover three main areas: work relations, employment relations and industrial relations. Employment relations deal with the arrangements governing such aspects of employment as recruitment, training, job tenure and reward systems. Work relations concern the way work is organized and the deployment of workers around technologies and production processes. Industrial relations is defined to cover the voice aspirations of employees and resulting institutional arrangements, such as joint consultation, work councils, and collective bargaining (Howard and Andrew, 2005). The following further explains the implication of shareholder model on labour: Labour interest: Labour will only protect their interest which is wages certainty and job security. Labour will support any investment decision that will sufficiently maintain current and future cash flow to prevent the wage cut and any staff redundancy. Howard and Andrew (2005) argue that Labour is primarily concerned with maintaining current and future cash flows sufficient to prevent wage or benefits cuts The new ideas and initiative might not be embraced, since every employee are risk averted and they might not have the spirit of entrepreneur like an investor . Any investment that looks uncertain or highly risky might be voted out by an employee. The possibility of embracing low risk investment that will translate into low growth and development so far is secured will be gladly supported by labour. In Germany, the representation of both financiers and labour management provides more balance between the two interests. Long-term employment relationship: The shareholders model of corporate governance has an impact on labour relationship with the organisation, because of the sense of recognition and the perception of the corporation as social institute especially in US up until the 1970s. In Olivier (2000) study, he argued that the participation of employees in corporate governance systems can be found in many countries and corporations throughout the world. Examples include: Right to consultation. This is where employees must be consulted on certain management decisions. This right increases transparency of management decisions and allows employee opinion to improve the asymmetry of information between management and the market 15 ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Duties of board members to consider stakeholder interests. This right reinforces accountability by protecting stakeholders Right to nominate / vote for supervisory board members. In many cases employee participation on the board is mandated. This right creates a check and balance system between management and the supervisory board, which in turn creates the perception of greater fairness Compensation/privatization programs that make employees shareholders, thereby empowering employees to elect the supervisory board, which, in turn holds management responsible There are some problems of corporate governance which some countries encounter; these include: a dearth of relevant corporate information, including information on directors supervisory boards of directors struggling to exercise proper oversight over management a lack of independent auditing systems management voting shares on behalf of shareholders annual meetings held without sufficient notification time In order to solve some of these problems of corporate governance Olivier Frmond (2000) came up with a reform process and emphasised on its importance. The reform process needs a champion that is, stakeholder group that is deeply interested in the long term health of the company and has the right to speak out to management on improving the corporation. The reform process also needs to provide incentives for change. Improvements in corporate governance standards could benefit employee shareholders in improving long term prospective health of company, safeguarding jobs and they stand to gain as shareholders if the corporation increases in value. The reform process must also be governed by clear rules, these rules must be enforced. 16 Conclusion Studies have shown the different theories of corporate governances in the Anglo Saxon and European countries (USA and UK). Corporate governance is ensuring all stakeholders are represented and employee is a stakeholder so are suppliers, consumers, communities. All these entities dont have to be on the board but all decisions must favour all the stakeholders. The conflict of interest between the investor and employee is are inevitable point in our discussion. The shareholder model of corporate governance is said to have both favourable and adverse effect on labour management. The major importance of corporate governance is to ensure the accountability of certain individuals in an organisation. The shareholders model strikes the balance between the business owner, management and employee but give more protection to labour. The aim of this study has been to explain the importance of corporate governance and how he shareholder value impacts labour management. An aspect of this analysis explains on how the firm and its management emphasizes on management powers and decision-making and its impact on labour. It has also been noted that employee shareholders could seek representation on the supervisory board and can play an active role in strengthening corporate governance systems. Empowering employees as shareholders will also help to ensure that the basic principles of corporate governance are promoted. The effect of corporate governance varies with the strength of labour. Labors real power and resources is determined by how much influence he has or corporate governance has over him. 17