Abstract This paper examines how trust is developed or formed, what results when trust is not formed and finally, what results when trust is violated. The paper looks at two types of trust, known as calculus-based trust and identification-based trust. The paper reviews several studies and concludes that trust, although it is intangible, is crucially important in relationships with any depth and commitment.
Outline:
Abstract
Introduction
Discussion
Review of Previous Studies
Summary and Conclusion
From the Paper "Some individuals trust very easily, and often far too easily which results in others taking advantage of their vulnerability while other individuals rarely trust others and only manage to extend trust after a firm foundation has been laid to base that trust upon. While violation of trust between casual relationships may not result in a complete breakdown of the relationship and it may be able to continue on some level the violation of trust between two individuals who are intimately close often results in a breakdown leaving a chasm far too wide to cross and at best takes much time, effort and willingness for trust to re-established and this may only result if the victim of the violation has the willingness to do so."
Abstract Is the current body of U.S. anti-trust law good public policy? This paper describes the roots and the current status of antitrust legislation in the U.S. with special mentioning of the Puerto Rican situation. It also covers the economic reasoning of antitrust in the light of per se unfair practices and business justification. Then, it moves on to give an overview of international antitrust regimes, namely EU, Germany, China and Brazil. It then discusses the call for loosening the law to create national champions that can compete on an international level.
Paper Outline:
Introduction
History of Antitrust Law
Public Policy Goals of Antitrust Legislation
Overview of The Economics of Antitrust
The Law: Per Se Deceptive and Unfair Business Practices and "Rule of Reason
Agencies
Consequences
International Perspective
Public Policy Discussion: The Need for National Champions?
From the Paper "In a concentrated market, with only a few firms, the danger is that they may find it easier to lessen competition by colluding. For example, they may agree on the prices they will charge consumers. The collusion could be in (i) an explicit agreement, or in a more subtle form known as (ii) tacit coordination or coordinated interaction . Accordingly, some cases are easier than others. The courts decided many years ago that certain practices, such as price fixing, are so inherently harmful to consumers that a detailed examination is not necessary to determine whether they are reasonable. The law presumes that they are violations - so-called per se violations - and condemns them almost automatically. Other practices demand closer scrutiny based on principles that the courts and antitrust agencies have developed. These cases are examined under a "rule of reason" analysis."
Abstract This paper discusses the argument of Francis Fukuyama in his book 'Trust', in which he addresses many of the flaws he finds in the modern capitalist democracy and considers the need for a more ethical regime to determine behavior in both the political and economic realms. This is a very cogent analysis for a time beset by political scandals and ethical failures in business such as the Enron collapse or even the current concern about excessive profits on the part of oil companies.
From the Paper "Francis Fukuyama has written a number of books on economic and political issues. In his book Trust, Fukuyama addresses many of the flaws he finds in the modern capitalist democracy and considers the need for a more ethical regime to determine behavior in both the political and economic realms. This is a very cogent analysis for a time beset by political scandals and ethical failures in business, such as the Enron collapse or even the current concern about excessive profits on the part of oil companies. The subtitle of the book is "The Social Virtues and the Creation of Prosperity," relating economic prosperity with social virtues and ethical behavior. He uses the word "trust" in its broadest sense as what people want in society, meaning they want to be able to trust their institutions, their leaders, and the businesses with which they deal. "
Abstract This is a series of three short papers, the first two of which are both on the same subject matter, "trust in personal and professional relationships." These two essays use two different rhetorical models for discussing the same subject. The third essay is a process analysis of the writing styles and following the instructions given in order to write the first two essays.
From the Paper "Can I trust you to take care of that order by tomorrow morning?" the boss asks the new night shift worker. "Sure thing!" Bobby says. As Mr. Smith and his beautiful secretary are preparing to go out of town on a business trip, Mrs. Smith asks, "Can I trust you?" Although the words are the same in both situations, the implications are vastly different. There are several classifications of trust that have major impacts on our lives, but most fall into one of three categories: professional, personal or relationship-based and financial, and within each of these categories the emotional implications of maintaining or losing trust vary widely."
This paper discusses a variety of estate planning strategies to determine whether or not it is possible for an estate to become more effective in avoiding probate and estate taxes.
Abstract This paper explains that a trust is best described as a safety box where an individual can hold assets before they are released to the people or organizations designated to receive them; however, this safety box is established in the form of a deed and is a separate legal entity. The author points out that a valid will stipulates to whom assets should be distributed; a living will stipulates what life-saving medical procedures are desired in the event a person becomes physically or mentally incapacitated. The paper stresses that the gift-tax exclusion, which enables an individual to give away, tax-free, $11,000 a year (indexed for inflation) to each beneficiary, is one of the simplest and most inexpensive strategies for saving estate taxes.
Table of Contents
Introduction
Estate Planning Strategies
Trusts Living Trust Testamentary Trust Offshore Trusts CharitableTrusts The Will
The Annual Gift-Tax Exclusion.
Medial and Tuition Payments
Nevada Corporation
Conclusion
From the Paper "One of the most popular and beneficial estate planning documents is a revocable living trust, which allows the settler to keep complete control over his/her assets and ensure that the assets are passed on to the beneficiaries without delay or unnecessary cost. With a revocable living trust, the title of any assets is transferred from the owner as an individual to the trust but the owner does not relinquish control, meaning he or she can still buy, sell, transfer or borrow. The trustee manages the assets for the benefit of the beneficiary. With living trusts, the trustee is often the settlor. In this case, when the trustee dies, a successor trustee steps in and takes control of the management of the assets for the benefit of the beneficiaries. The assets do not have to pass through probate because they are no longer in the owner's name as an individual. Instead, they are titled in the name of the trust. The beneficiary can receive the benefits from the trust without the need for court and hiring an attorney."
Abstract The paper explains the distribution of an estate under British Law.
From the Paper "UK Equity and Trusts: The Distribution of Lord Amstrad's Estate. Lord Amstrad, the well-known socialist billionaire, died in April. His will executed on 1st February states; "Everything I own is to be sold by my trustees. The resulting fund is to be distributed subject to paying a reasonable income to my niece Josephine during her lifetime to underpaid nurses and ancillary staff working in the National Health Service."
Abstract Life insurance and trusts are two financial arrangements that provide security to the family and living relatives of the owner of a property or trust. This paper looks at insurance and trusts and how these can be used for better financial security and risk management.
Introduction
What is a Trust?
Elements of Trusts Determining a Trustee
Types of Trusts Inter Vivo Trusts Testamentary Trusts Unit Trusts Purpose (Objectives) of Trusts Life Insurance Trusts Benefits
Drawbacks
Trusts and Case Law
Conclusion
From the Paper "Financial risk management is an important concept in the field of management. A person with an established business, occupation or source of income can suddenly take ill, resulting in the loss of that income which depended on him to generate. This can be a serious loss for him and others who depend on the income. There are two financial instruments which are available which can continue to provide to him or his dependents financial compensation or income based on his previous investments. For monetary investments which had been paid on regular intervals, there is the instrument of life insurance. For property owned, there is the instrument of trusteeship. [Trusts & trustees 2003]."
Abstract Trusts are viewed as competition destroyers which attempt to control the market for a product. Anti-trust laws arose out of the abuse of such trusts and these laws persevere to this day. This paper questions whether the government's enforcement is executed when the economic climate is right or whether the enforcement is occurring at regular intervals. It also questions whether certain corporations, like Microsoft, are unwitting targets of the government. The overall question in this paper is whether the enforcement of anti-trust laws harms American competition. The response lies in the history of anti-trust laws, the enforcement of such laws and the meaning of competition within economic understanding.
Paper Outline:
Introduction
The History of Anti-trust Laws
The Sherman Anti-Trust Act (1890)
The Clayton Anti-Trust Act (1914)
The Federal Trade Commission Act (1914)
Robinson-Patman Act (1936), Celler-Kefauver Act (1950) and The Hart-Scott-Rodino Antitrust Improvements Act of 1976
Competition
Enforcement
Has the Microsoft Anti-trust Case Helped or Hindered American Competition?
Has the Hart-Scott-Rodino Act Helped or Hindered American Competition?
Conclusion
From the Paper "In 1911, two decades after the Sherman Act was passed, the U.S. Supreme Court found that the Standard Oil Company and the American Tobacco Company exerted unlawful monopolistic authority. This was the first major court decision since the Act was passed. The two mentioned companies were forced to dissolve into smaller firms that would compete against each other. The courts have not been consistent when interpreting the meaning of monopoly power under the Sherman Act either."
Abstract The paper explains that trust is a key enabler of cooperative human actions. The writer shows that the intensified studies on trust in many relevant fields, in effect recognize the importance of cooperative behavior to the success of any human endeavor and, consequently, to the success or failure of an organization. The writer describes how it was found that trust leads two other basic mechanisms by which such cooperation can be achieved in human behavior, the other two being power and the market. In conclusion, the writer cites examples where trust of employees has brought about innovation and improved economic efficiency. The writer states that the lack of trust can have adverse consequences.
Table of Contents:
Trust Socio-Economic View
References
From the Paper "When Hong Kong was scheduled to revert back to China on July 1, 1977 under an agreement signed between the British and the Chinese in 1984, there was great concern and fear among the populace of Hong Kong. The handover was announced to the world at least five years before. So during this entire period, the thought uppermost in people's mind was: What will it be like when the People's Liberation Army or the Red Guard, in whose hands the blood of the 1989 massacre in Tiananmen Square was still fresh, cross the border bridge at Lo Wu?"
Abstract This paper is an illustration of the different aspects and concepts existing in context to the popular perspective on trust. The author looks at trust by analyzing two works by Martin Hollis, "Trust Within Reason" and "The Philosophy of Social Science: An Introduction". The writer investigates generalities and historic interest in the issue of the perspective on trust, trust in relativity to society, complexity and harsh realities in context to trust.
From the Paper "One of the most wide and diverse scopes of study that the human race has ever set out upon is apparently that regarding the human brain, particularly in regard to the source within humans of emotion, of sentimentalities and feelings such as love, trust, fear and animosity, the reason for this diversity being that no one has, till today, come upon a concise and assertive theory as to the implications of these feelings.
That is to say that, although the feeling meant to be depicted via the emotion is clear but, however, what is not clear is the reason inherent to the implementation in the first place. There has been an increasing interest in the social sciences in recent years in explaining trust."
This paper discusses trusts, a legal instrument through which both personal and real property is held by one individual for another individual's benefit.
Abstract This paper explains that a trust may be created by (1) transferring property to an individual designated as trustee during the lifetime of the settlor or by will or other disposition to take effect upon the settlor's death, (2) by declaration by the owner of the property that the owner holds identifiable property as trustee or (3) by exercise of a power of appointment in favor of another person as trustee. The author points out that the trust shall act in accordance with the express terms of the trust instrument, act impartially, administer the truth property with reasonable care and skill, maintain complete accounts and records and perform taxpayer duties. The paper stresses that an individual wishing to form a trust should employ a trust attorney to guard that the trust is in the desired form.
Table of Contents
Definitions and Terms
Trustee and Delegation of Duties
Summary and Conclusion
From the Paper "Requirements for the creation of a trust are not uniform throughout all of the states however; the following elements can be understood to be 'typical' in terms of requirements for the creation of a trust: (a) Consideration: not required although in the absence of consideration there is a question relating to possible transfer of fraud of creditors; (b) Legality: the trust must be created for a lawful purpose; (c) Capacity: The settlor must have the mental capacity to create the trust however; the beneficiary's capacity is immaterial and many times is the primary reason for the creation of the trust; created because the beneficiary is lacking either in the legal or actual capacity needed to manage the property that is assigned to the trust. "
Abstract This paper focuses on the area of trust in the organizational aspect, and specifically in a law enforcement organization. The paper looks at how one obtains and maintains trust in a law enforcement organization, as well as trust in some personal aspects. This paper also evaluates the universal definition of trust or the lack there of. Furthermore, the research discusses the different types and levels of trust that exists in everyday relationships and organizational relationships, as well as what the significance of these relationships is. The paper further discusses how the more trust an employee has in the organization, employer and co-workers, the better performance and dedication to work is.
Outline:
Chapter 1: Review of the Literature
Chapter 2: Review of Current Research
Conclusion and Recommendations
From the Paper "The accumulated findings of the working group's conferences and workshops informed the Foundations recent invitation for research proposals. The Foundation aims to fund focused, empirical investigations of trust in concrete social scenarios - such as doctor-patient relations, or the relationship between elected officials and their constituents - where trust, or the lack of it, has clear, measurable consequences. To qualify for funding, these investigations will have to provide an explicit, theoretical account of the function of trust, together with a plausible strategy for testing the theory empirically. Three full proposals were funded in November 1999, together with four smaller exploratory proposals looking at trust in public bureaucracies, trust in physician-patient relationships, the risks of trust, and the faith people place in third party information when evaluating a potential partner's trustworthiness. ("Examining the Role of Trust in Society," 2000, p. 328)"
Abstract This paper discusses the concept of trust and explains that it is rather simple and yet complex as well because it involves both emotion and logic. The paper also relates that society and business could not function without trust. As an example of the importance of trust in society, the paper discusses the Diebold voting system scandal of 2004. The paper also points out that the Internet is another area that involves trust in society. In this situation, Internet users must put a large amount of trust in companies such as Microsoft and Google.
From the Paper "At the same time, there are those who do not trust Google or technology of this type at all. Many will not use Google Mail for fear of their privacy being put into the hands of third parties. The Internet is difficult to trust because of the vast capabilities for negative when compared to the few positives; most people tend to trade security for convenience, but not all. Online banking, for example, is a great way to take care of errands from the comfort of one's home without having to make an extra stop on the way home from work or during an already jam-packed day."
Abstract Brand trust is a very important part of the American marketplace. When consumer develops a trust or loyalty for a certain brand they may use that brand for the rest of their lives. The drive to create these lifetime consumers convinces firms to spend millions to advertise and develop new products. This paper reviews and analyzes the literature on the subject of brand trust and the impact that brand trust has on the marketplace.
From the Paper "According to an article in The Chief Executive a brand is "a guarantee of a certain quality or aesthetic experience extended by a firm to its customers"Firms placed their brands at jeopardy every time they breached their implied contract with customer expectations.?("Brand Blowout") The article asserts that when a customer trust the quality of the brands that they purchase the company that produces the brand must ensure that the quality of the product is maintained. When a company fails to do this customers? may choose to abandon the brand and purchase brands that are produced by competing firms instead."
Abstract This paper examines the structure of the barbell trusts, believed to be one of the main causes of the capital investment trust crisis 2001 - 2002. It looks at how the demand by investors seeking high annual returns in today's almost inflation free economy was successfully being met with barbell investment trusts in a period of buoyant stock markets and how the years 2001 and 2002 saw a fall in stock markets which these barbells could not handle. It shows how these investment trusts were structurally flawed, geared only to a bull market and were seeping in complex risk that very few really understood.
From the Paper "Falling markets and the forced selling of shares by banks, in an illiquid market lead to disproportionate share price drops. The asset base of these funds was being eaten away at. Consequently, an even higher yield was now required to meet dividends as there was less capital to work with. Analysts had warned that barbells were offering unrealistic high headline dividend yields. Barbell trusts found they could not meet the headline dividend yields that they had offered. Most barbells hadn?t been in operation long enough to build up revenue reserves. As a result, a few barbells failed to meet their dividends and dividends had to be cut. However a dividend cut by one trust did not solely affect that trust."
