The field of corporate governance has riveted interest of researchers and financial analysts over the last three decade in Japan. In age of globalization, voluntary corporate governance codes and legal reforms are increasingly proliferated in Far East Asia, continental Europe and in emerging economies; Japan’s corporate governance reforms were undertaken with a conviction that Japan’s discredited bank-based corporate government system, a legacy of the era following the Second World War, should be replaced by a US-style corporate governance system. US-Style Corporate Governance (CG) system was chosen as Japan’s model because of the robust economic performance of the US economy. Japan’s corporate reforms have introduced new laws which emphasize shareholders’ rights and shareholder value maximization, minority shareholders’ rights, competition in the market for corporate control, and transparency and information disclosure. With strong public support, the Japanese parliament promptly passed these new laws which reflected western liberal norms. The primary objective of this dissertation is to explain the underlying changes experienced by the corporate sector due to these reforms. The continuous reforms in the financial and corporate sector have induced a change in shareholders’ investment strategy and financing approach of listed companies in Japan. The unique features of Japanese corporate sector like the existence of main bank system, cross-holdings by firms, and the dual role of banks as a financier and shareholder, the presence of strong business networks in form of vertical and horizontal Keiretsu are under reforms process. To evaluate the behavior of investors and business practices of listed firms we select 1016 firms from 2439 non-financial firms of Tokyo Stock Exchange (TSE) to explain the causes of change in ownership structure and firm’s investment strategy in short and long run especially in reforms period. Our balance panel data estimates are consistent with the hypothesis, verifying that both restructuring process and firm’s value are profoundly associated with reforms. However, our results have significance because findings of this study will guide policy maker after completion of Abenomics policies in Japan. First, market-oriented shareholders still hold lesser proportions of equity than stable shareholders but their equity positions are increased significantly due to reforms. This indicates that collective impact of ownership transfer to market-oriented shareholders will improve firm’s efficiency and payoffs of minority shareholders. Secondly, after the introduction of independent directors and the new law of information disclosure have reduced the agency cost and inside ownership, like managers and directors have significantly positive effects on firm’s value and restructuring activities. Furthermore, the control transfer to ultimate owners has a significant impact on firm’s performance and value. Consequently, the corporate reforms followed by corporate restructuring have everlasting impact on firm’s ownership, performance and investment policy
Human service professionals and those who educate them to promote and encourage the unique values and characteristics of human services. In so doing, human service professionals uphold the integrity and ethics of the profession. The fundamental values of the human services profession include respecting the dignity and welfare of all people; promoting self-determination; honoring cultural diversity; advocating for social justice; and acting with integrity, honesty, genuineness and objectivity. Human service professionals consider these standards in ethical and professional decision making. Ethical-decision making processes should be employed to assure careful choices. The ethical standards are organized in sections around those persons to whom ethical practice should be applied. In this paper will discuss about the Services and Teachings of Molana syed Abdul Ahad Agha.
Manufacturing firms are generally enmeshed in complex webs of relationships that span across the globe, commonly known as Global Production Network (GPN). Contrary to conventional economic thinking, GPNs are not determined by market considerations alone. GPNs take their shape from political and social institutions which are conditions of possibility of economic transactions. While acknowledging the role of global and local institutional context in GPN (re)formation, existing GPN literature generally does not provide an adequate explanation of how various kinds of institutions operating across different geographical spaces interact to affect local nodes in GPN. Similarly, GPN literature also recognizes GPN (re)configuration as a contingent process which is open to challenge by strategic actors. Nevertheless, GPN research emphasizes economic coordination rather than political contestation and treats firm as a block box. The focus is on the inter-firm structures and relationships while dynamics within the firm are ignored. Drawing upon a detailed qualitative case study about the process of changing work regime at a local node, that is, Pakistan’s garment manufacturing industry, in global garment production network (GGPN), the thesis aims to fill those gaps. The case study is about the transformation of work practices in Pakistan’s garment manufacturing industry from a production by self-employed groups of male stitchers to an assembly line-based system of manufacturing with full time female stitchers. This dissertation analyses GGPN in context of its embeddedness in global and local political, economic, and social institutions and provides a nuanced explanation of (re)formation of a local node in GGPN. The analysis emphasizes the interplay of global-local institutions and develops an appreciation of the various tensions that lie just beneath the surface of such networks. The focus is on intra-firm politics of control and the ongoing efforts of the industry and their civil society partners, especially UN agencies to push this change through the industry and its implications for value creation and appropriation. The thesis brings to surface the under-researched roles of labour and multilateral organizations in processes of (re)formation of local nodes. This is achieved by integrating GPN and labour process research, which are useful complementary resources to illuminate the contestations over value creation and appropriation in GPNs. The study identified the specific strategies used by labour and multilateral organizations to shape the local node in specific ways to advance their interests. For labour, the strategies identified are “political sabotage”, “hit and rescue”, and “identity politics”. The study reveals the specific combination of these discursive and material resistance strategies through which labour plays an active role in (re)formation of local nodes. Similarly, this study identified the three specific strategies used by multilateral organizations to shape the capital-labour struggles at workplace: “legitimizing women’s work”, “making a business case for female employment”, and “managing the transition” from one factory regime to the other. This research highlights that in this case, multilateral organizations remained hand in glove with global capital in reformation of the local node to give birth to a new kind of work organization.