Immersion Program Essay Example | Topics and Well Written Essays - 500 words

Immersion Program - Essay Example The first lesson learned was that language taught in a meaningful context is acquired much easier and more completely than language taught in isolation from other subjects. Rather than focusing attention on the academically correct grammar and syntax of the language, the lesson learned here was that language taught with a focus on meaningful communication between and among students and teachers is much more successful than language focused on academic proficiency. In addition, by placing the language instruction in the context of other academic pursuits, the main focus on learning is not placed as severely on the language acquisition itself, but on the academic subject matter, with language acquisition merely a part of communicating information about this subject with the teacher and with other students. By taking the pressure and focus off of the language itself, it becomes less of a burden to students and more of a challenge to accomplish. In addition, this context provides stimula tion and encouragement for students to learn more about the language as a means of communicating more about the subject involved. A second lesson learned through the research was that while comprehension among immersion students was far higher than that among students taught in isolation, the speaking and writing skills of these students remained at a much lower level than those of native speakers of the language. The study theorized that the reason for this shortfall was due to the lack of actual language use by the students while participating in their classes, often responding to questions posed by the teacher rather than formulating their own ideas in the second language. This hypothesis was backed up with discussion from various other studies that have been conducted all seeming to reach the same conclusion. This reveals the importance of providing ample opportunity

Prevention of Financial Frauds Assignment Example | Topics and Well Written Essays - 250 words

Prevention of Financial Frauds - Assignment Example Various strategic practice models for financial fraud prevention have been proposed in the recent years and some of them are discussed in this proposal. Financial frauds are widely perceived to be various deliberately made criminal acts seriously violating civil law while based on financial transactions and meant to attain myriad personal benefits. For the past many years, research reports have been illuminating that the need to combat financial frauds has become increasingly important and inevitable concerning its widespread proliferation and the immense threat it poses to the older citizens especially, though this criminal issue largely involves people of all ages as well. From frauds planned on a large-scale and committed to weaken the roots of national economy to small-scale financial frauds like fake lotteries and work at home plots, this criminal issue has largely succeeded in building many holes in the net the f financial security which was once strong and meant to preserve the public protective. A layered security approach and effective tools are required to handle this dramatic emergency of felonious financial frauds and by controlling who first receives sensitive documents like bank statements, small organizations can prevent financial fraud occurrence (CBIA News, 2007). Expert policy-makers and researchers at (Research Centre on the Prevention of Financial Fraud, 2009) proposed a three-fold strategy to prevent the financial fraud proliferation around the globe. Consolidating information in an attempt to compile the fraud research for providing a disciplinary support to the policy-makers can help in preventing huge losses based on billions of dollars and occurring every year as a result of financial frauds.  

The improvement of teaching and learning through technology by blended Dissertation

The improvement of teaching and learning through technology by blended learning in secondary schools - Dissertation Example Both students and teachers are used to a certain format of teaching and learning and too abrupt a change may lead to resistance from both. This resistance could reduce the effectiveness of the new learning process. In such a situation, blended learning is helpful as it contains a mix of the traditional and new approaches. Blending provides a stable transition of familiar and new features. The most efficient teaching method is a blended approach which combines technology with face-to-face learning. Technology would support the traditional education rather than threatening its existence. Education technology is expected to supplement and complement the traditional education methods and not replace them. It is supposed to make work easier for the staff and students thereby enhancing the process of teaching and learning. Blend needs to retain a certain conservative element, which could hinder progress over time. Periodic evaluation is thus essential. Teachers have the opportunity to indi vidualize instructions at all levels and for all students. The weaker students receive encouragement and motivation and they have been known to improve their performance.

Prevention of Financial Frauds Assignment Example | Topics and Well Written Essays - 250 words

Prevention of Financial Frauds - Assignment Example Various strategic practice models for financial fraud prevention have been proposed in the recent years and some of them are discussed in this proposal. Financial frauds are widely perceived to be various deliberately made criminal acts seriously violating civil law while based on financial transactions and meant to attain myriad personal benefits. For the past many years, research reports have been illuminating that the need to combat financial frauds has become increasingly important and inevitable concerning its widespread proliferation and the immense threat it poses to the older citizens especially, though this criminal issue largely involves people of all ages as well. From frauds planned on a large-scale and committed to weaken the roots of national economy to small-scale financial frauds like fake lotteries and work at home plots, this criminal issue has largely succeeded in building many holes in the net the f financial security which was once strong and meant to preserve the public protective. A layered security approach and effective tools are required to handle this dramatic emergency of felonious financial frauds and by controlling who first receives sensitive documents like bank statements, small organizations can prevent financial fraud occurrence (CBIA News, 2007). Expert policy-makers and researchers at (Research Centre on the Prevention of Financial Fraud, 2009) proposed a three-fold strategy to prevent the financial fraud proliferation around the globe. Consolidating information in an attempt to compile the fraud research for providing a disciplinary support to the policy-makers can help in preventing huge losses based on billions of dollars and occurring every year as a result of financial frauds.  

An Inconveniente truth Essay Example | Topics and Well Written Essays - 250 words

An Inconveniente truth - Essay Example Ice melting has a huge impact on nature and the humanity. If we pay attention on the fact that Gore presents, we will see that the giant ice shelves retreat every year, for example from Mount Kilimanjaro, Columbia glaciers and so on. The amount of CO2 is extremely rising nowadays, despite during 650000 years it did not raise above 300 ppm. So, Gore states, the overall trend of warming is clear and intensified. 2005 year, for example, has brought the record point of temperature of the 14 years for more than 200 countries all over the world. Gore proves that the ocean temperature rises, which causes the stronger storms and hurricanes, which America and Japan felt on their own skin. The ecosystem of river is also suffering. The effects of human`s activity are of a planetary importance. As our planet is like a big engine, flora and fauna are suffering from the climate changing, for example, polar bears and pine trees. It was noticed that the giant ice missives become sicker (for 40% of 4 0 years). It has caused not only environmental problems, but also an appearance of new illnesses (more than 30 new diseases, including SARS) distributed of intensified insects, rising to the top of mountains. The other related problem is the flooding, which can happen if the big body of ice land melts. It would become a great disaster for coastal territories, for example, the large part of Florida, Shanghai, Calcutta, Manhattan and so on will be covered with water. The technical revolution has posed the humanity on the edge of disaster; it is time pay for the mistakes. As we can notice, Gore widely discovers the truth of the problem, showing it is not imaginative. However, he is optimistic – his opinion is that humanity has both ability and will to secure its future, to pay attention on what is used (thing, cars and so on) and how it can be

Low Involvement Theory Essay Example for Free

Low Involvement Theory Essay 1.0 BACKGROUND OF FOUNDER They are two founders who developed Interpersonal Deception Theory. Judee Burgoon or known as Professor Burgoon is the director of Human Communication Research for The Management of Information Centre. Besides that, she is also She is Professor of Communication and Professor of Family Studies and Human Development at the University of Arizona She was the PHD holder from West Virgina University. Professor Burgoon has authored 7 books and over 240 articles, chapters and reviews related to nonverbal and relational communication, interpersonal relationship, the impact of new communication technologies on human and human-computer interaction, and other researches. Among the theories that she almost notably linked are Interpersonal Adaptation Theory, Expectancy Violations Theory and Interpersonal Deception Theory. During her career, she has received many awards such as, NCA’s Golden Anniversary Monographs Awards, the Charles H. Woolbert Research Award for Scholarship of Lasting Impact. In 1999, she got the National Communication Association’s Distinguished Scholar Award, its highest award for lifetime of scholarly achievement. While in 2006, she awarded the Steven Chaffee Career Productivity Award. The awards that she gained show that she was talented American Academic. The second founder is David Buller. Professor David Buller was the Professor at Northern Illinois University. He was the philosophy professor. Besides that he also was the writer. Among his publication are Function, Selection and Design, in 1999, Adapting Minds, Evolutionary Psychology and the Persistent Quest for Human Nature in 2005. He has also contributed a lot in writing articles to books and journals. During his career, Buller has experience in finance, management, operations and sales. He has served as chairman of the Writing Committee for Social Studies Standards for Minnesota public schools. In his community he has served on the Hugo Planning Commission and political party precinct chair. As an active member of several professional organizations, he has been president of both the Strategic Leadership Forum and the Association for Corporate Growth. He was also a leader of the Edison Electric Institute Strategy Group and the Society of Competitive Intelligence Professionals. He was graduated from the Centre for Business Intelligence. He was died in 2011. 2.0 BACKGROUND OF THEORY Interpersonal deception theory (IDT) explain the interplay between active deceivers and detectors who communicate with multiple motives, who behave strategically, whose communication behaviours mutually influence one another to produce a sequence of moves and countermoves, and whose communication is influenced by the situation in which the deception transpires (EmGriffin, 2000). IDT attempts to explain the manner in which individuals deal with actual or perceived deception on the conscious and subconscious levels while engaged in face-to-face communication (Buller, 1996). This theory is an interpersonal theory that a set of unchanging assumptions concerning interpersonal communication in general and deception in particular. This theory is developed by Judee Burgoon and David Buller. The core ideas of IDT can be divided into two which are Interpersonal communication is interactive and strategies deception demands mental effort. Firstly, interpersonal communication is interactive means that interaction, rather than individuality, is at the core of their theory. For instance, if the encounter between you and Pat actually took place, both of you would be active participants, constantly adjusting your behaviour in response to feedback from each other. Whatever story you tell, you shouldnt expect Pat to remain verbally and nonverbally mute (EmGriffin, 2000). (Judee K.Burgoon, 1996) Second idea is strategies deception demands mental efforts which means that successful deceiver must consciously manipulate information to create a plausible message, present it in a sincere manner, monitor reactions, prepare follow-up responses, and get ready for damage control of a tarnished image-all at the same time. For example, If you choose to be less than honest in your surprise encounter with Pat, you may find yourself unable to attend to every aspect of deception, and some of your communication behaviour will go on automatic pilot. (EmGriffin, 2000). 3.0 MAIN CONCEPTS/ VARIABLES 3.1 Leakage Leakage concept is the behaviour outside of the deceptive Sender’s conscious control, mostly nonverbal in character, can signal dishonesty and it is applied in IDT. The concept was developed by Miron Zuckerman, who created a four-factor model to explain when and why leakage is apt to occur (A.Fos, 2005). First, deceiver’s intense attempt to control information can produce performances that come across as too slick. Second, lying causes physiological arousal. Third, the predominant felt emotions that accompany deceit are guilt and anxiety. Fouth, the complex cognitive factors involved in deception can tax the brain beyond its capacity (EmGriffin, 2000). Under the four-factor model the extreme concentration required by an individual engaged in deception and employing the compensating mechanisms to mask that deceit may result in their performance appearing polished or rehearsed. Lying also causes a sender to become psychologically and physiological aroused. Suc h arousal is difficult to mask and will eventually evidence itself. It is this very principle on which the polygraph machine is base (A.Fos, 2005). 3.2 Truth bias According to Burgoon and Buller, people tend to regard interpersonal message as honest, complete, direct, relevant and clear although when the speaker lying to them. McCornack claims that there exists an implied social contract that all of us will be honest with each other. It means that a mutual understanding that our messages will reflect reality as we know it. Besides that, Burgoon and Buller also convinced that people who know and like each other are particularly resistant to doubting ach others’ words. For example, the warmth relationships are motivated to find truth in whatever the other says and thus overlook or rationalize away statements that others might find questionable. (EmGriffin, 2000). 3.3 Suspicion Buller and Burgoon picture suspicion as a mid-range mind-set, located somewhere between truth and falsity. In spite of the many ways that respondents could become suspicious, Buller and Burgoon have found that it’s difficult to induce a deep-seated scepticism. Doubters tend to favour indirect methods to gain more information, but there is scant evidence that these probes help unmask deception (Judee K.Burgoon, 1996). Suspicion occurs when someone is tried to find the truth from the others. The person becomes suspicious with people who make them unconfident to believe what the others talk about. It usually happens when the person does not believe what the person says and he/she will not accept the word hundred percent truths. For instance, when you have cheated by someone, it is hard to believe that person again. You become suspicious to whatever the person says to you. 3.4 Interactivity Interpersonal deception theory views deception through the interactivity of interpersonal communication. As such, it considers deception as an interactive process between a sender and receiver. In contrast with previous studies of deception that focused on the sender and receiver individually, IDT focuses on the dyadic, relational and dialogic of deceptive communication. Next, Dyadic communication refers to communication between two people. A dyad is a group of two people between whom messages are sent and received. While relational means that refers to communication in which meaning is created by two people simultaneously filling the roles of both sender and receiver. Dialogic activity refers to the active communicative language of the sender and receiver, each relying upon the other within the exchange. Deception uses when the communication of one participant is deliberately false. For a variety of reasons, including receivers’ own cognitive loading from ongoing information management and the development of rapport between parties as interaction unfolds, receivers will typically judge senders more favorably than passive observers. Obviously, there is a correlation between the level of favorable impression of the sender and the ultimate chances of undetected deception (Burgoon, 1996). 3.5 Strategic behaviour When the Receiver doubts the truthfulness of the information conveyed they will give clues in the form of non-typical behaviours. This will occur even if they attempt to mask such behaviours. Strategic behaviour is the proper behaviour or reaction that people use to act like nothing is happen or trying to hide a secret or the truth. However, deceptive senders are by their nature more attuned to sensing suspicion than the receivers are to sensing deception. Thus, senders will adjust their message and its manner of presentation if they sense suspicion. This serves to make deception all the more difficult to detect. For instance, there is what is known as the â€Å"Othello error.† Individuals who are actually telling the truth behave in the same way when falsely accused or confronted with suspicion as do those guilty of actual deception. The term Othello error refers to the situation where a truth teller’s adaptation to a false accusation strikes the respondent as devious (Hearn, 2006). 3.6 Deception in Communication Buller and Burgoon are more concerned with an individual’s motivation than with their actual actions in determining deception. In their work they found that every deceptive act has, at its core, at least one of three motivations. The first is to accomplish some task or attain some goal. Second, the communication may be directed at maintaining or creating a relationship with the other party. Finally, deception is often used to save face of one or both of the parties to the communication. Most people are uncomfortable when engaging in deception. One way in which they deal with this feeling is to attempt to disassociate from the behaviour. For example, when people try to lie they try to react like normal but there must be something different like reducing eye contact or through their body movement. (Judee K.Burgoon, 1996) The other ways that senders deal with the deception is to engage in their masking behaviour. Masking is an attempt to protect the sender’s self-image and their relationship with the Receiver. When engaging in intentional deception senders will attempt to restrain any bodily cues which may signal deception. They may also engage in compensating behaviour, such as exhibiting extreme sincerity. The difficulty is that the detection of all of these behaviours can only be done if they are measured against the sender’s base-line behaviours (Judee K.Burgoon, 1996). 3.7 Falsification, Concealment and Equivocation One strategy is falsification where the deceiving party also referred as sender. While the person who is flat-out lies of the communication called as receiver. It means that the sender creates a fiction to deceit. For example the sender will creates a story that not really happen just only to lie or hide the truth. The second type of deception is concealment. In concealment the sender omits certain material facts which results in deceptive communication. Finally, equivocation is included in the roster of deceptive behaviour. When employing equivocation the Sender skirts issues by, for instance, by changing the subject or offering indirect responses (Hearn, 2006). Nonverbal cues A nonverbal cue is important element in IDT. People can detect deception through non verbal cues. Although people can manipulate their words, however it is difficult to hide their truth nonverbal cues. Nonverbal cues are including facial expression, eye contact, gestures and touch. When someone try to hide secret or lie, they are difficult to hide their facial expression and especially their eye contact with others. They try to reduce the eye contact with others and the way they talk, they move or react is little bit different from their usual reaction. 4.0 Development of IDT Interpersonal Deception Theory (IDT) is generating from the concept of nonverbal cues to detect deception during conversation. The idea of this study was come from Sigmund Freud who studied about nonverbal cues in detecting deception among people. In his study, Freud observed a patient being asked about his darkest feelings. If his mouth was shut and his fingers were trembling, he was considered to be lying. From the situation, he tried to study more about nonverbal cues. Then, in 1989, DePaulo and Kirkendol developed the Motivation Impairment Effect (MIE). This occurs when a person’s motivation to succeed at lying negatively affects on the person’s performance, making the lie less convincing. (Kirekendol, 2011). MIE states the harder people try to deceive others, the more likely they are to get caught. Burgoon and Floyd, however, revisited this research and formed the idea that deceivers are more active in their attempt to deceive than most would anticipate or expect. For instance, DePaulo has estimated the human ability to detect deception at 53%, which she states is â€Å"not much better than flipping a coin.† She has also stated that â€Å"human accuracy is really just better than chance.† (Hearn, 2006). In 1996, IDT was developed by two communication professors, David B. Buller and Judee K. Burgoon. They restudied the studies made by Sigmund Freud, nonverbal cues, and then they observed DePaulo and Kirkendol† studies which they developed about Motivation Impairment Effect. Judee Burgoon and David Buller then combined both studies and they studied in depth about deception in conversation among people. Prior to their study, deception had not been fully considered as a communication activity, it is more like theory of communication strategies use to lie or hide the truth information from others. Previous work had focused upon the formulation of principles of deception. The principles of Interpersonal Deception Study were derived by evaluating the lie detection ability of individuals observing unidirectional communication (Hearn, 2006). The early studies of Interpersonal Deception Theory found initially that, although humans are far from perfect in their efforts to diagnose lies, they are substantially better at the task than would result merely by chance. However, this statement should be contrasted with subsequent statements made by the same researchers. Buller and Burgoon discount the value of highly controlled studies. Therefore, IDT is based on two-way communication and intended to describe deception as an interactive communicative process (Hearn, 2006). Based over years of the author’s and other scholars’ research, IDT expound on the dynamics properties of interpersonal communication, nonverbal behaviour, message processing, credibility and deception as it is achieved through interpersonal interaction. 5.0 Application of IDT IDT demonstrate that people are poor at detecting deception. Thus, it is crucial that one not rely upon a perceived ability to detect deception in the negotiation context. There are habitual liars who compulsively engage in deception. However, most people do not lie without reason. It is natural to think that deception would be beneficial to any negotiating party. Many statements will be made in the course of a negotiation. Not all statements will completely true or completely false. The language used to achieve a specific task can be varied as the people who feel a need to deceive. Yet Buller and Burgoon list some characteristic that reflect strategic intent. 5.1 Uncertainty and vagueness If we do not want our friend to know about our absent for class yesterday, we must keep the answer short and noncommittal. If we say, â€Å"I’m sick† the brevity precludes detail to challenge (Burgoon, 2000). Another way is to speak in the passive voice and use indefinite pronouns. 5.2 Nonimmediacy, reticence, and withdrawal We wish not to be there when our friend ask why we did not come to class yesterday. That desire to be out of the situation is often encoded in nonverbal actions. We might sit further apart that others, or lean back rather than forward as our answer. Words also can show nonimmediacy when the speaker changes verbs from present to past tense (Burgoon, 2000). 5.3 Disassociation This is the way of distancing yourself from what you have done. Levelers are inclusive terms that do this by removing individual choice (Burgoon, 2000). For example, we will tell our friends that everyone has done it and not attending class is normal. All of these linguistic constructions sever the personal connection between the actor and the act of deception. 5.4 Image- and relationship-protecting behavior Since discovery could hurt their reputations and threaten their relationship, they consciously strive to suppress the bodily cues that might signal deception. To mask the cues that leak out despite their best efforts, they try to appear extra sincere. Deceivers tend to nod in agreement when the respondent speaks, avoid interrupting, and smile frequently (Burgoon, 2000). 5.5 Flood the circuits Interpersonal Deception Theory demonstrates that when a Sender’s cognitive abilities are â€Å"overloaded† they will begin to leak. It stands to reason that the greater the load, the greater the leak and the easier its detection. Another major premise of Interpersonal Deception Theory is that individuals are poor lie detectors in one-on-one communication situations. Thus, it would appear to be to a negotiator’s advantage to increase the load on their opposite (Burgoon, 2000). 5.6 Falsification, Concealment and Equivocation One strategy is falsification where the deceiving party also referred as sender. While the person who is flat-out lies of the communication called as receiver. It means that the sender creates a fiction to deceit. For example the sender will creates a story that not really happen just only to lie or hide the truth. The second type of deception is concealment. In concealment the sender omits certain material facts which results in deceptive communication. Finally, equivocation is included in the roster of deceptive behaviour. When employing equivocation the Sender skirts issues by, for instance, by changing the subject or offering indirect responses (Hearn, 2006).

Importance of Corporate Governance

Importance of Corporate Governance 1. INTRODUCTION This chapter provides a definition of corporate governance and examines importance of, and the principles underpinning corporate governance. It also reviews prior research examining corporate governance disclosures and in particular, those which have investigated corporate governance disclosure in ECMs. 2. DEFINITIONS OF CORPORATE GOVERNANCE Modern corporations have dispersed ownership structure (Jenkinson and Mayer, 1994). Due to this, these corporate entities are characterised by contractual relationships between (shareholders) owners and managers (agents). Management is hired by owners (i.e. investors) to run the business on their behalf (Sarpong, 1999). Within the agency theory framework, it is theorised that managers may seek to maximise their wealth to the detriment of shareholders and bondholders through the consumption of perquisites (Jensen and Meckling, 1976). Decisions of agents have the tendency of unfavourably transferring wealth from one principal to another i.e. from bondholders to shareholders (Watts and Zimmerman, 1978). John and Senbet, (1998 p. 372) define corporate governance â€Å"as a means by which stakeholders of a corporation exercise control over corporate insiders and management such that their interest will be well protected†. Similarly, it is proposed that â€Å"corporate governance i ssues arise in an organization whenever two conditions are present. First, there is an agency problem, or conflict of interest, involving members of the organization these might be owners, managers, workers or consumers. Second, transaction costs are such that this agency problem cannot be dealt with through a contract† (Hart, 1995, p. 678) To avert the agency problem, there is the need to ensure that adequate and effective corporate governance structures are put in place to prevent abuse of power by managers (Cadbury, 1992). Corporate disclosure through annual reports is one of the essential instruments for the monitoring of managerial behaviour (Watts, 1977; Watts and Zimmerman, 1978). This requires frequent evaluation of managerial activities and performances particularly, through independent non-executive directors (Roberts et al 2005). Berle and Means (2003) view corporate governance as a relatively new concept in both the public and academic domains, although the central issues the concept seeks to address have been in existence for a longer period. The most common definition of the concept has been provided by the Organization for Economic Cooperation and Development (OCED). It defines Corporate governance as: ‘ a system by which business corporations are directed and controlled. Corporate governance structures specify 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 companys objectives are set and the means of attaining those objectives and monitoring performance (OECD, 1999 p. 11). The influential Cadbury report defines corporate governance fundamentals and somewhat simplistically as ‘ the systems by which companies are directed and controlled (Cadbury 1992). This will require putting in place appropriate mechanisms which will ensure that corporate resources are safeguarded. Johnson and Scholes (1998) explained that corporate governance is concerned with both the functioning of organizations and the distribution of powers between different stakeholders. They argue that corporate governance determines whom the organization is there to serve and how the purpose and priorities of the organization should be decided. Thus, among other things, corporate governance is concerned with structures and processes for decision making, ensures accountability and controls managerial behaviour. It therefore, seeks to address issues facing board of directors, such as the interaction with top management and relationship with owners and others interested in the affairs of a company. The definitions outlined, directly or indirectly, share common elements. They all acknowledge the existence of conflict of interest between managers and shareholders as a result of the existence of separation of ownership and control in corporate activities. They further recognize the need to put in place effective corporate governance mechanisms to ensure that shareholders and investors interest are well protected. 1. IMPORTANCE OF CORPORATE GOVERNANCE As a result of globalization and the increasing complexity of business there is a greater reliance on the private sector as the engine of growth in both developed and developing countries. Organizations do not exist in a vacuum; they rather interrelate with a number of interest groups, known as stakeholders (Freeman, 1984). These stakeholders include shareholders, governments, regulatory bodies, creditors and the general public (Pease and Macmillan, 1993). Stakeholders are impacted by the activities of companies. In this regard, and in the context of this study, adequate and effective corporate governance disclosure becomes relevant to investors and other stakeholders from a number of standpoints. Effective corporate governance disclosure promotes transparency in corporate structures and operations. It strengthens accountability and oversight among managers and board members to shareholders (Bosch, 2002). This oversight and accountability combined with the efficient use of resources, improved access to lower-cost capital and increased responsiveness to societal needs and expectations leads to improved corporate performance. Many studies exist linking good corporate governance with better Performance. Fianna and Grant (2005) explains that good corporate governance helps to bridge the gap between the interests of those that a company, by increasing investor confidence and lowering the cost of capital for the company. Furthermore, they also add that it also helps in ensuring company honours, its legal commitments and forms value-creating relations with stakeholders. Coles et al. (2001) and Durnev and Han (2002, also found that companies with better corporate governance enjoy high er valuation. These studies results, helps in confirming the idea of good corporate governance, result in better decisions at all levels of the organization, not at top-management and board levels, but also in the better performance of the organization Again adequate and effective corporate governance disclosure ensures that corporate activities are run in an open and transparent manner (Brain 2005). Last, corporate governance practices boost market confidence and ensure effective allocation of capital in the market (Greenspan, 2002). From the forgoing discussions, the realization of the importance of good corporate governance practices is largely dependent on a number of internal factors. As a way of achieving this, a number of principles have been established. 3. PRINCIPLES UNDERPINNING CORPORATE GOVERNANCE DISCLOSURE A number of principles underpin effective corporate governance. These principles are business probity, responsibility and fairness or equal opportunity. Corporate entities are expected to exhibit these qualities to ensure good governance. Embracing the outlined principles will improve relationships between companies, their shareholders and the overall welfare of every economy. These principles are briefly discussed. Business probity requires individuals in charge of companies to be open and honest in the discharge of their activities. According to Brain (2005) openness implies a willingness to provide information to individuals and groups about the activities of a company. In this regard, it is important to recognize that shareholders and investors need to know the position of a company in order to evaluate their performance. Timely delivery of information will enable them achieve this purpose. Good corporate governance disclosure requires handlers of companies to be honest in the discharge of their activities. Honesty requires managers to deliver factual information. A sign of honesty is that statements of companies are believed. However, Brain (2005 p. 26) contends that â€Å"honesty might seem an obvious quality for companies, but, in an age of spin, and the manipulation of facts, honest information is perhaps by no means as prevalent as it should be.† Corporate governance requires handlers of corporate entities to be responsible in the discharge of their duties. Investors require confidence that companys financial systems are secured and credible. Managers are therefore expected to work in this direction to meet investors expectation. Responsibility in the context of corporate governance includes other issues such as transparency and accountability. These principles are vital to the survival and welfare of every company. Thus, managers have a duty to explain their actions to shareholders as well as investors so as to enhance their understanding of the direction of the companys activities. The principle of fairness requires impartiality and a lack of bias in corporate activities. In the context of corporate governance, the quality of fairness is achieved when managers behave in reasonable and unbiased manner. In this sense, to ensure good governance shareholders are expected to receive equal consideration. This means minority shareholders should be treated the same way as majority shareholders. References Berle, A.A. and G.C. Means (2003). The Modern Corporation and private property, New York, Macmillan Company. Bosch, H. (2002), The changing face of corporate governance, UNSW Law Journal, Vol. 25 No.2, pp.270-93. Brain, C. (2005) Corporate Governance, ICSA text Cadbury A. (1992) Financial Aspect of corporate governance Coles JW, Mcwilliams VB, Sen N. An examination of the relationship of governance mechanisms to performance. Journal of Management 2001; 29 (1):23-50. Durnev A, Han KE. The interplay of firm-specific factors and legal regimes in corporate governance and firm valuation. In: Paper Presented at Dartmouths Center for Corporate Governance Conference: Contemporate Governance; 2002. p. 12-3. Fianna J, Grant K. The revised OECD principles of corporate governance and their relevance to non-OECD countries, vol. 13. Blackwell Publishing Ltd; 2005. p. 2. Freeman, R.E (1994). The Stakeholder Theory of Modern Corporations. Concepts, evidence and implications, Academy of Management Review Vol. 20, 65-91 Greenspan, A. (2002) Corporate Governance in Emerging Markets Hart, O. (1995), â€Å"Corporate Governance, Some Theory and Applications, The Economic Journal 105: 687-689 Jenkinson T. and Mayer C.P. (1994). Hostile takeovers defense attack and corporate performance. McGraw Hill. Jensen, M. C. and Meckling, W. H (1976). Theory of the Firm: Managerial Behaviour, Agency Costs and Ownership Structure. Journal of Financial economics 3(3): 305-60 John, K., and L. Senbet (1998), â€Å"Corporate Governance and Board Effectiveness†, Journal of Banking and Finance 22: 371-403. OECD (2005), Guidelines on Corporate Governance of State Owned Enterprises Roberts, J. T. McNulty, et al (2005). â€Å"Beyond agency conceptions of the work of the non-executive director: creating accountability in the boardroom†. Special Edition. British Journal of Management 16:S5-S26 Sarpong, K.K. (1999) Financial Reporting in Emerging Capital Markets: A Case Study of Ghana, PHD Thesis, The University of Warwick Watts, R. L. 1977. Corporate Financial Statements, a Product of the Market and Political Processes. Australian journal of Management: 53-75. Watts, R. L. and J. L. Zimmerman. 1978. Towards a Positive Theory of the determination of Accounting Standards. Accounting review: 112-34