Effect of Corporate Social Responsibility on Financial Performance of Financial Institution in Malaysia - Free Essay Example

Sample details Pages: 5 Words: 1405 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Effect of Corporate Social Responsibility on Financial Performance of Financial Institution in Malaysia Background of the study Corporate Social Responsibility (CSR) disclosure in Annual Report has been debated for a long time. Survey done by KPMG in 2013 show that 71 per cent of the 4100 companies undertake CSR reporting in the business practice. Furthermore, among the worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s largest 250 companies, the CSR reporting rate is more or less stable at 93 per cent. Don’t waste time! Our writers will create an original "Effect of Corporate Social Responsibility on Financial Performance of Financial Institution in Malaysia" essay for you Create order The issue on CSR reporting is undeniable, however the question now is on the quality of the report itself and how the information be honestly communicated to stakeholders (M.-W. Wu, C.-H. Shen, 2013). Financial institution especially banks play an important role in economic development because its safety and soundness create several external benefits to society. By using substantial resources from society, banks are required to provide feedback to the community more often that other industries. For example, bank assets may mainly come from depositors. Therefore, as bank employ public resources paid for by society, they are highly scrutinize by the media, government and academician regarding their CSR activities. Prior study proved that CSR practices can be considered as effort to enhance the  ¬Ãƒâ€šÃ‚ nancial performance (FP) of PLCs in Malaysia (Mustaruddin, Norhayah and Rusnah, 2011). Keywords: Corporate social responsibility CSR), Financial Performance (FP), Finan cial Institution (FI) Problem statement Purpose: The current study purpose is to examine the CSR disclosure in Annual Report of the Financial Institution (FI) and to study the relationship between CSR with financial performance (FP) of the FI. Research questions: To what extend the CSR disclosure of FI? What is the relationship of CSR to FP of FI? Literature review Corporate responsibility is replacing corporate social responsibility as an increasingly important factor in how people regard the corporate reputation of organisations (Worcester, 2009). One way to incorporate CSR with modern banking theories is to relate it to the role of bank reputation. Thus companies use CSR to increase customer loyalty and build reputation. Accordingly, banks conducting CSR can attract more loans and deposits than non-CSR banks because CSR creates a brand name and a sense of identity among the customers (M.-W. Wu, C.-H. Shen, 2013). CSR must be appreciated as a set of actions that companies manage with harmony, when stakeholders have good responses to their CSR practices. The positive relation of CSR information towards CFP indicates that companies could increase their external reputation (Mustaruddin et al. (2011). Furthermore, CSR also been viewed as the continuing commitment by business to behave ethically and to contribute to economic development while improving the quality of life of the workforce and their families (Md Zabid Abdul and Saadiatul Ibrahim, 2002). Research Design CSR Measurement CSR will be the independent variable in the current study. A disclosure-scoring methodology will be adapted in the current study. It will be based on the content analysis. The content in CSR disclosure will be scored and the items selected will be categorised into four indicators which are employee relations, community involvement, product dimension, and environmental dimension. There will be sub-item in each category and it will be scored accordingly . List of CSR items: Employee relation: Employee health and safety. Training and education. Employeesà ¢Ã¢â€š ¬Ã¢â€ž ¢ bene ¬Ãƒâ€šÃ‚ ts. Employeesà ¢Ã¢â€š ¬Ã¢â€ž ¢ pro ¬Ãƒâ€šÃ‚ le. Share option for employees. Health and safety award. Community involvement: Cash donation program. Charity program. Scholarship program. Sponsor for sport activities. Supporting national pride. Public project. Product: Product development. Product safety. Product quality. Customer services. Environment: Pollution control. Prevention or reparation program. Conservation and recycled materials. Award in environment program. There will be three quality of classification for disclosing value for each item. Each item disclosed will be assign accordingly. (1) Quantitative disclosure classi ¬Ãƒâ€šÃ‚ cation. This classi ¬Ãƒâ€šÃ‚ cation refers to the greatest weight which has an assigned value of 3. It classifies as the  ¬Ãƒâ€šÃ‚ nancial disclosures. For instance, the CSR practices disclosed in the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s annual report are as follows: To promote access to healthcare, Maybank Islamic has made a five-year commitment via the Maybank Foundation to contribute RM1.7 million to Institut Jantung Negaraà ¢Ã¢â€š ¬Ã¢â€ž ¢s new Regional Paediatric Heart centre. This contribution not only provides support in terms of much-needed medical equipment but also assists in subsidising medical expenses for patients from low-income backgrounds. Since 2012, this collaboration has helped 30 children from around the region (Maybank Annual Report, 2013 pg 125). (2) Qualitative spe ci ¬Ãƒâ€šÃ‚ c disclosure classi ¬Ãƒâ€šÃ‚ cation. This classi ¬Ãƒâ€šÃ‚ cation refers to the next highest weight which is the non-quantitative disclosing but with particular information and it has an assigned value of 2. It classify as the non- ¬Ãƒâ€šÃ‚ nancial disclosures. For instance, the CSR practices which are disclosed in the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s annual report are as follows: The Group places strong emphasis on child safety and we uphold this diligently through our Missing Children Reuniting Families initiative which aims to ensure missing children are reunited with their families. The programme was launched in 2007 in partnership with Polis DiRaja Malaysia (à ¢Ã¢â€š ¬Ã…“PDRMà ¢Ã¢â€š ¬Ã‚ ) and offers an alternative channel of communication for members of the public to help locate missing children (RHB Banking Group Corporate Responsibility Report 2013 pg 11). (3) Qualitative non-speci ¬Ãƒâ€šÃ‚ c disclosure classi ¬  cation. This classi ¬Ãƒâ€šÃ‚ cation refers to the lowest weighted value due to its qualitative disclosing in which the description is in general, thus it is assigned as the quantitative value of 1. It classify as non- ¬Ãƒâ€šÃ‚ nancial disclosures. For example, the CSR practices which are disclosed in the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s annual report are as follows: Public Bank Group has always displayed a readiness to invest in its staff right from the onset of their career with the Group, equipping them with knowledge, skills, and attitudes that will enable them to make their mark in the organization. Strong induction and orientation programmes are among the training lined up for staff from day one to inculcate the right corporate values and a sense of belonging (Public Bank Berhad, 2005, p. 171). Companies that do not disclose any kind of information for the given categorises obtain a score of 0. Financial performance Measurement Accounting variable s use in the current study to assess the financial performance(FP) will be return on assets (ROA), return on equity (ROE) and return on sales .These are the dependent variables in the current study. Hypothesis development The first objective of the current study is to examine CSR disclosure in Annual Report of the Financial Institution (FI) H1. CSR will be positive, signi ¬Ãƒâ€šÃ‚ cantly related to FP The second objective is to study the relationship between CSR with financial performance of the FI. Based on the CSR items therefore create the four hypotheses below: H2. There is a positive relationship between employee relations dimension and FP. H3. There is a positive relationship between community involvement dimension and FP. H4. There is a positive relationship between product dimension and FP. H5. There is a positive relationship between environment dimension and FP. Data Sources This study will examine financial institution listed on main market of Bursa Malaysia and licensed with Bank Negara Malaysia (BNM). The research period is 5 years which covered from 2010 to 2014. The data will be collected from annual report of each company which will be downloaded from the Bursa Malaysia website. Companiesà ¢Ã¢â€š ¬Ã¢â€ž ¢ annual reports constitute the main data for the current study and were chosen because the annual report is the primary source of CSR disclosure, and, in Malaysia, annual reports of listed companies are the most accessible source of information, either in hard copies or electronic formats. Conclusions Although the issue on CSR has been debated for a long time and be studied by many academicians and researchers, the current study aims to look on the quality of the CSR disclosure. It is because the question on whether to disclose or not is not a matter anymore. Last but not least, the relationship between CSR and FP of financial institution need to be closely study. The extent of the study could be the motives behind the CSR activities. References The KPMG Survey of Corporate Responsibility Reporting (2013), KPMG InternatIonal Md Zabid AbdulSaadiatul Ibrahim, (2002),Executive and management attitudes towards corporate social responsibility in Malaysia, Corporate Governance: The international journal of business in society, Vol. 2 Iss 4 pp. 10 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 16 M.-W. Wu, C.-H. Shen, (2013) à ¢Ã¢â€š ¬Ã…“Corporate social responsibility in the banking industry: Motives and financial performanceà ¢Ã¢â€š ¬Ã‚ , Journal of Banking Finance, 37 3529à ¢Ã¢â€š ¬Ã¢â‚¬Å"3547 Mustaruddin Saleh Norhayah Zulkifli Rusnah Muhamad, (2011),Looking for evidence of the relationship between corporate social responsibility and corporate financial performance in an emerging market, Asia- Pacific Journal of Business Administration, Vol. 3 Iss 2 pp. 165 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 190 Sir Robert Worcester, (2009),Reflections on corporate reputations, Management Decision, Vol. 47 Iss 4 pp. 573 589 1

Midsummer Night’s Dream Analysis Free Essays

Illusions A Midsummer Night’s Dream Essay Is it a dream or reality? The connection between the real world and a world created by our own vivid imagination while we sleep is somewhat uncanny. A plethora of individuals cannot fathom how the brain can create such realistic scenarios in such little time. In A Midsummer Night’s Dream by William Shakespeare, the author uses his knowledge of dreams to create his play. We will write a custom essay sample on Midsummer Night’s Dream Analysis or any similar topic only for you Order Now A Midsummer Night’s Dream is not only the title of this play but the overall theme as well. In the story dreams bring many changes within the plot. Dreams change the opinion of characters and open their eyes to a different reality. A large connection between dreaming and theater is made at the end of the play in Puck’s famous final speech. Midsummer also plays a large role in the theme of this play as well. We will discuss all of these topics within the next few paragraphs. â€Å"Like dreams, love is foolish, crazy and driven by desires. † Says an article called The Meaning of the Title in  A Midsummer Night’s Dream  by Shakespeare. The relationship between the four lovers, Hermia, Helena, Lysander, and Demetrius is based on their dreams and desires. When Hermia had a nightmare depicting a snake eating her heart, â€Å"Methought a serpent ate my heart away,/And you sat smiling at his cruel  play† (pg. 64-65) it foreshadowed Lysander’s newfound love for Helena which was only temporary. Lysander was casted into a figurative dream as Puck placed the love petals upon Lysander’s sleeping eyes. When Lysander awoke and Helena was the first one he saw, Lysander began to long for her and fall in love with her. This is important to the plotline because it shows what a dream can do to a person. It also helps build Puck’s character as a careless trickster. Although Helena believes Lysander’s attempts to win her heart as merely a cruel joke the reader understands Lysander is trapped in a dream. Puck then with instruction from Oberon, the King of the Faeries places the love petals in the eyes of the sleeping Demetrius to let him fall deeply in love with Helena who loves him. At the same time Puck is instructed to put these petals into Titania’s, the Queen of the Faeries eyes so that she may hopefully fall in love with an â€Å"ounce, or cat, or bear† (pg. 55). This is so that Oberon can take the Indian boy away from Titania and use him as a servant. This will solve their marital problems and bring balance back to the mortal world. Titania falls in love with Bottom, of whom which was ironically transformed by the all magical Puck into an ass. â€Å"O Bottom, thou art changed! What do I see on thee? †(pg. 75) This shows the illusions of dreams and love. Titania was in love with what she thought to be the most majestic and absolutely wonderful mortal she had ever laid eyes upon while in reality the creature she fell in love with was an ass. This also shows irony connecting the stubborn personality of Bottom and what he was transformed into. The relevance of Midsummer in the theme of the play is that many things grow in the summer, thrive. It’s a wonderful time and usually what people think of when they think of love. It is the season for life and growth as winter is for death. The nice weather drives people out of their homes and into the open outdoors. This is appropriate because people like Lysander and Hermia wouldn’t normally in winter be traveling through the woods and stop to rest. It would be too cold. The setting also portrays a summer atmosphere. It also believed that the faeries come out to trick passing travelers in the nights of midsummer. They are known to play jokes on them and to get enjoyment out of mortals. This is probably why Oberon is so interested in Helena’s despair. He must feel sorry as well as want to have a little fun with the mortals. He then instructs Puck to fix her love problem. Puck, the trickster faery is very active during this time. He plays tricks on almost everyone in the play, finding enjoyment in transforming Bottom into an ass and making Titania fall in love with him. This play is based upon love, tricks, comedy, and dreams so the faeries coming out during this time was important to the main plot and in agreement with the legend of faeries coming out during midsummer nights. Lastly Puck’s final speech shows the connection between dreaming and theatre by stating â€Å"While these visions did appear. /And this weak an idle theme,/No more yielding but a dream†(pg. 172-173). This shows us that dreams happen in order to weave the importance of the main theme of A Midsummer Night’s Dream. Without the illusion that clouded Titania’s eyes she might not have fallen so deeply in love with Bottom, the ass. During the practice of the play Pyarmus and Thisbe Snout wouldn’t have noticed that Bottom had been transformed. Without the illusion of the love petals of the pansy flower Lysander might have seen through the weak shade of fake love for Helena. He would have realized his heart belonged to Hermia. Demetrius may have never moved on and loved Helena. The ending during Puck’s speech really ties together the whole play and helps us come to the conclusion that dreams were necessary for the plot and theme of the play. Puck wants us to feel as if it was all a pleasant dream, but at the same time he wants us to remember everything that happened, good and bad and learn from it. Nothing in this play is quite what it seems so it is ironic at the end to be trusting Puck who is such a tricky character. What we take from his final speech is to enjoy the happy ending and always be wary of dreams. Dreams and reality coexist in our lives as much as they do in A Midsummer Night’s Dream. We understand the theme of this play more closely if we examine key points that support the theme and title as one. Illusions and reality, Puck’s final speech, and the relevance of midsummer help us connect the title and theme. In A Midsummer Night’s Dream by William Shakespeare, the author uses his knowledge of dreams to create his play. A Midsummer Night’s Dream is not only the title of this play but the overall theme as well. As â€Å"honest Puck† (pg. 173) says before he departs â€Å"So good night unto you all. † (pg. 173) Bibliography â€Å"A Midsummer Night’s Dream: Analysis of Lines 5-20 of the Epilogue. †Ã‚  Article Myriad. N. p. , n. d. Web. 25 Nov. 2012. ;http://www. articlemyriad. com/midsummer-nights-dream-analysis/;. â€Å"The Meaning of the Title in A Midsummer Night’s Dream by Shakespeare – Yahoo! Voices – voices. yahoo. com. †Ã‚  Yahoo! Voices – voices. yahoo. com. N. p. , 10 July 2005. Web. 25 Nov. 2012. ;http://voices. yahoo. com/the-meaning-title-midsummer-nights-dream-6294754. html;. Shakespeare, William. A midsummer night’s dream. Washington Square Press new Folger’s ed. New York: Washington Square Press, 1993. Print. How to cite Midsummer Night’s Dream Analysis, Papers

Contribution of the Oman Court-Free-Samples-Myassignmenthelp.com

Questions: 1.Fraud, incompetence and dishonest are major problems in Agency Law. Analyse this statement in relation to universal agency law, its objectives and how these shortcomings can be overcome in business, quoting relevant Oman Royal Decree. 2.Analyse the structure and contribution of the Oman Court and Legal System, quoting relevant Royal Decree. Answers: 1.Oman Royal Decree stating Agency Law has major problems in cases of fraud, incompetence and dishonest(Al-Shaqsi, 2009). In cases of fraud a person might gain an unfair advantage over the other by omitting elements to do require intent. In cases of incompetence, the person lacks contractual capacity and cannot be appointed as agent. Incompetent persons within Agency relationships cannot be help for any liability or torts, hence can lead to problems in such contracting. In cases of dishonest, liability or tort cannot be established when cases does not involve civil wrong, leading to other party suffering. Oman Royal Decree no. 34/2014 Objectives of Agency Law is to perform duties of the principle by appointment of an agency lawfully. Agency law in the country was established to successfully to form contracts and execute them but there are various shortcomings in relation to attract. Shortcomings relative to fraud, incompetence and dishonest can be overcome in business by including terms that could lead to possible avoidance of fraud and dishonesty. Incompetence can be overcome in case of including terms such that contracting parties are competent. 2.The Sultanate of Oman in the Arabic Gulf constitutes a central Islamic Monarchy with Muscat as its capital. It has four districts Musandam, sohar, Al Barimi and Muscat with five areas. Since its independence gained on July 1970, it is governed by Sultan Qaboos(Baporikar, 2015). Legal system within the country is codified in the Constitution by Royal Decree n101/96. Primary legislation is termed as Royal Decree and secondary legislation is concerned with Ministerial body. The legal system in the country is a mixture of Islamic and Anglo-Saxon law. Conclusion The Oman Royal Decree legislation includes all relevant laws and regulations with connection to contract law, agency law, insurance law, labor law, Intellectual Property law and so on. All legislation are well organised within Courts and the Judiciary with codes of conduct. these codes acts as reference numbers and differs for political life, economic life, criminal affairs, civil matters, environment and so on. All decisions are taken by judicial entities and executed in name of His Majesty the Sultan. Reference Lists Al-Shaqsi, S. Z. 2009. EMS in the Sultanate of Oman. Resuscitation, 740-742. Baporikar, N. 2015. Effect of national culture on development of international business in the Sultanate of Oman. Handbook of Research on Global Business Opportunities, 268-288.