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Capital Budgeting: Theory Versus Process, 2008.
A case study analysis of how capital budgeting theory can be applied at Ghana Oil Palm Development Corporation.
3,841 words (approx. 15.4 pages), 6 sources, APA, $ 105.95
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Abstract
This paper explores the capital budgeting process in a real-work scenario. The paper aims to determine how companies apply capital budgeting theory in actual practice and what results they can expect to achieve. The paper specifically examines the capital budgeting theory and how it is applied at the Ghana Oil Palm Development Corporation.
Table of Contents:
Background
Recent Capital Projects
Theoretical Background of Study
Choice of Methodology
Results
Analysis and Interpretation
Conclusions and Recommendations
From the Paper
"The results of this study demonstrated the importance of considering external factors in the capital budgeting process. The role of local and national governments must also be considered. This study will help others realize how important it is to include external factors in their capital budgeting analysis. This study achieved its goals be providing in-depth insight into the thought processes that govern the capital budgeting process. As we found out, often those that make the decisions regarding the method for capital budgeting must act under the direction of others above them. This can make the process difficult, especially if the superior does not understand the importance of external variables that can affect the outcome of the project."
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Human Capital Theory, 2004.
Considers the implications of human capital theory on women in the workforce.
3,150 words (approx. 12.6 pages), 8 sources, MLA, $ 111.95
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Abstract
This paper explains the primary elements of human capital theory and discusses what it means for women in the workforce. The paper also discusses the growing awareness among companies that investments in human resources increase their value to the organization.
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Social Capital Theory, 2007.
A critique of Robert Putnam's social capital theory, discussed in his book "Bowling Alone: The Collapse and Revival of the American Community."
2,059 words (approx. 8.2 pages), 5 sources, MLA, $ 64.95
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Abstract
This paper discusses Robert Putnam's book "Bowling Alone: The Collapse and Revival of the American Community," in which he tracked the changes in the social fabric of the United States during the second half of the twentieth century. The paper discusses Putnam's hypotheses regarding the collapse of community life in the U.S. and its dire ramifications for society.
From the Paper
"What does all of this tell us about the validity of the Social Capital theory? The numbers alone are astounding proof of the idea that Bridging social bonds are decaying. Also, the rampant consumption of television rather than human company for comfort shows us a good deal about the collective stress imposed by this lack of cohesion. Americans, no longer having a common goal, no longer have anything in common with one another, and are too harried to try to forge new commonality. The fight for resources and moral superiority between regions in this country has degenerated to the point that there is extreme polarization between left and right political factions. Strong tides of Nationalism threaten to exclude rather than include large numbers of Americans who do not fit a specific mold--one of the major reasons for the initial breaking away from community life among Boomers. This is endemic of an imbalance between a severe lack of Bridging Social Capital and growing amounts of very fragmented Bonding Social Capital."
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Max Weber and Capitalism, 2002.
A look at Max Weber's theory on capitalism.
1,400 words (approx. 5.6 pages), 3 sources, $ 53.95
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Abstract
This six-page sophomore paper begins by exploring several issues that emanate from Max Weber's theory of capitalism. It attempts to explore the various interconnections between all the constituents of his theory.
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Marx on Capitalism, 2006.
A critical assessment on Karl Marx's theories about the downfall of capitalism.
2,055 words (approx. 8.2 pages), 8 sources, MLA, $ 64.95
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Abstract
This paper is a philosophical, economic and historical critique of Marx's worldview and theories on the downfall of the capitalist system. It looks at how Marx's own economic determinism, his own unflinching reliance on the economy as the determining factor of our historicism, defeats himself since capitalism, as so clearly demonstrated in "The Communist Manifesto", can be considered both spiritually and ethically futile.
From the Paper
"Marx declares that Proletarian uprising- the ending of capitalism- is inevitable: "It's not a question of what this or that proletarian- or even the whole proletarian movement- momentarily imagines the aim to be. It's a question of what the proletariat is, and what it consequently is historically compelled to do." 10 It seems that Marx misunderstood the proletariat. Observing uprisings and revolutions throughout the last century (and before), he is myopic in two ways: 1) The working class (especially that of today) seems more compelled to work within existing power structures to enforce change in an advanced Capitalist society- not to rebel. And 2) This enforces the suggestion that working class rebellions usually develop from the proletariat, but are rarely purely Communist. In such uprisings, a demagogic figure usually exploits two common factors: people's ignorance, and people's desperation. "
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Marx?s Capitalism, 2002.
A discussion of Karl Marx?s theories on capitalism with a focus on the monopolization of capital.
2,850 words (approx. 11.4 pages), 9 sources, MLA, $ 84.95
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Abstract
This paper examines the beliefs of Karl Marx, the co-founder of communism and also a philosopher, revolutionary thinker and economist. It shows how he was a student of capitalism and his seminal thoughts on the dominant political economy of his time (and ours) are as relevant today as in the hey days of Soviet communism and its ascendancy in several parts of the world. It shows how his theories about the accumulation of wealth by the capitalist, the ?surplus value? and the monopolistic tendency of the capitalistic economy give us a perspective of capitalism that continues to make the works of Karl Marx relevant in a post-communist twenty-first century.
Outline
A Stage of Social Development
How Does Money Accumulate with the Capitalist?
Where Does the Capitalist Get the Capital in the First Place?
Why does the Laborer work for the Capitalist?
The Big Fish eat the Small Fish
Competition itself Breeds Monopoly
Political Influence of Large Corporations
Constant Improvement
The Rich get Richer
Excess Capacity: Looking for Space
Unemployment in Capitalist Societies: A Deliberate Ploy?
Will Capitalism Continue to Survive?
Constant Improvement
From the Paper
"The Marxist explanation of Capitalism is based on the surplus value provided by the laborer to the capitalist that lets him to accumulate capital and make his profit. The question, however arises that why does the worker work for the capitalist instead of working for himself and keeping the surplus value. Capitalism, by definition is a system in which the producers are the employees and do not have the means to own the equipment and material needed to produce the commodities. Although in certain societies and cases the workers may be forced to offer themselves as labor for the capitalists through coercion, more often than not, the conditions in most capitalist societies are such that the laborers? own equipment and other resources simply cannot compete with those of the capitalist."
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Capital Structure, 2006.
An overview of different theories of capital structure.
2,698 words (approx. 10.8 pages), 6 sources, APA, $ 80.95
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Abstract
This paper presents an overview of several different theories of corporate capital structure, focusing particularly on the differences between the traditionalist view of capital structure and the Modigliani-Miller view. The paper points out that there are two major differences between the traditionalist view of corporate capital structure and the Modigliani-Miller view, explaining that the first difference lay in the traditional view's contention that the value and cost of capital of a firm is interrelated to its capital structure, whereas the Modigliani-Miller view contends that they are independent of each other. The paper next explains that the second major difference is that the Modigliani-Miller view indicates a linear relationship between shareholder rate of return and firm leverage, which means that at low levels of debt the cost of equity increases faster under the Modigliani-Miller theorem than it does under the traditional View. The paper also takes a look at several other modern theories of corporate capital structure and investigates how these theories differ from the Modigliani-Miller view.
From the Paper
"Generally the capital structure of a company is much influenced by the practical influences like managerial shareholdings, corporate strategy and taxation. The investment strategy by firms necessitates managers to explore the methods of financing new investment. The managers practice three main preferences: utilization of retained earnings, borrowing through debt instruments or issue of new shares. Thus the retained earnings, debt and equity constitute the three primary ingredients of the capital structure of the firm. The first two ingredients show ownership by shareholders and the second ingredient shows ownership by means of debt holders. The financing policy, capital structure and firms ownership are inextricably linked in representing the ways the economic agents form and alter their asset acquisition behavior via firms and capital markets and impact their income levels and returns to asset holdings in the form of capital gains, dividends or direct remuneration,. (Company Financing, Capital Structure, and Ownership: A Survey and Implications for Developing Economies)"
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Optimal Capital Structure, 2002.
This research examines the theory of optimal capital structure, explaining it as the composition of the liabilities and stockholders? equity side of a firm?s balance sheet.
2,103 words (approx. 8.4 pages), 8 sources, MLA, $ 66.95
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Abstract
An examination of the theory of optimal capital structure. Emphasis is placed on the conflict between the traditional approach to the assessment of the role of capital structure and that of the MM theory holding that capital structure is irrelevant in a perfect capital market. The literature indicates that the jury is still out on the question of the relevance of capital structure to stockholders? value.
From the Paper
"Some theorists contend that a firm?s optimal capital structure is that combination of debt and equity at which agency costs are minimized. Agency costs are the incremental costs associated with having an agent make decisions for a principal. Within the context of this consideration of the determination of optimal capital structure, management is an agent, while stockholders are the principals. Other theorists point out, however, that, while issuing debt typically produces positive outcomes for firms, the determination of an optimal capital structure for a firm is a dynamic process that, in addition to agency costs, must account for the effects of both corporate and personal income taxes, potential bankruptcy costs, transaction costs, and the degree of control over a firm?s investments that will be delegated by stockholders to the firm?s management (Brealey & Myers, 1996)."
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Finance Theory, 2005.
A comparison of the Arbitrage Pricing Theory (APT) and Capital Asset Pricing Model (CAPM).
1,968 words (approx. 7.9 pages), 6 sources, MLA, $ 62.95
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Abstract
This paper explains how Arbitrage Pricing Theory and Capital Asset Pricing Model Theory work and then, in order to determine which theory seems to work better for an investor, the paper makes a comparison and analysis of the two theories.
From the Paper
"Any Asset Pricing Theory forms the basic foundation of finance theory, in that it deals with the value of any asset under unknown or uncertain circumstances. The relationship between an asset and its price is the mainstay of the asset pricing theory: the lower the price, the poorer the expected performance. The Arbitrage Pricing Theory derives from this theory. The basic idea in the APT theory is that any sort of risk in asset returns must not affect the pricing of the asset in any way; it must depend on the covariance of assets with the risk factors. (Bayesian Approach of the Arbitrage Pricing Theory) The APT originated from Stephen Ross, 1976-1978. Ross had used a statistical procedure for assets returns, with the belief that there are in existence no arbitrage probabilities. The APT must of necessity involve a lot of risk taking processes, (Definition of Arbitrage Pricing Theory.)
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Marxism and Global Capitalism, 2003.
A discussion on whether the theories of Marxism are more relevant than ever before in an age of global capitalism.
3,008 words (approx. 12.0 pages), 8 sources, APA, $ 88.95
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Abstract
This paper embarks on an examination of the theories of Marxism and argues that a specific engagement with "The Communist Manifesto" should prove to be fruitful in fulfilling this task. It points out that the theories of Marxism were based on the notion that the degeneration of capitalism would contribute to its eventual downfall, however the antithesis of degeneration has occurred. Hence, one could argue that the theories of Marxism carry no more relevance in an age of global capitalism. Despite this, this paper goes on to contend that to leave ones analysis at this would make it incomplete. One needs to go below the surface and back to "The Communist Manifesto" where amongst the passages one will find Marx and Engels anticipating and providing a vivid account of the global capitalism the world is now experiencing and a number of examples to support this are cited. Further evidence is cited which explains the reasons why the proletariat have not revolted. It concludes by noting that countless changes have occurred in the world since "The Communist Manifesto" was written which may well have led to a decline in the ?fashion? and significance of Marxist theories.
From the Paper
"Central to Marx?s views on the capitalist system lies his notion of ?surplus value? which is the difference between the value of capital at the start of the capitalist production process and the additional value of commodities, which are produced. Surplus value only occurs in capitalist societies. The critical point that Marx makes is that the bourgeoisie or the minority of individuals appropriate surplus value or profit, which is in reality, produced by the rest of society namely the proletariat. Someone else reaps the product of their labour, they have invested their time and efforts in it, yet it is taken away from them. The profits of capitalist depend on the exploitation of the worker."
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Lenin and Marx on Capitalism, 2004.
A comparison of the theories of Karl Marx and Vladimir Lenin on capitalism.
3,599 words (approx. 14.4 pages), 4 sources, MLA, $ 100.95
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Abstract
This paper begins by defining capitalism and explains how Karl Marx's theories related to it. It then discusses Lenin's and Marx's criticism of capitalism and explains why they considered this economic system to be inferior to communism.
From the Paper
"According to the American Heritage Dictionary, capitalism is ?An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market.? (American Heritage Dictionary, 2003) Although capitalism has been attacked, mischaracterized, and otherwise not understood by communist and socialist theorists throughout the world, the practice has endured the 400 plus year experiment in this country, and has proved itself to be the greatest stabilizing force in an economy which seeks to treat all its people fairly. By combining capitalism with the practice of allowing all people equal opportunity to engage in capitalist enterprise, a ?market economy? has evolved. In a free market economy, the forces that drive the national economy neither rest in the hands of a few wealthy landowners, nor in the hands of a wealthy bourgeois class, nor in the hands of the government. The power which turns the economic engines rests in the hands of the peoples, and in turn can benefit every person."
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"The Protestant Ethic and the Spirit of Capitalism", 2007.
This paper is a critical review of Max Weber's theory about the relationship of Protestantism and capitalism as presented in his book "The Protestant Ethic and the Spirit of Capitalism".
1,785 words (approx. 7.1 pages), 1 source, MLA, $ 57.95
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Abstract
This paper explains that Weber believed that the way of life for Protestants, specifically Calvinism, encouraged the development of western capitalism, which he defined as the pursuit of profit and forever renewed profit. The author points out that Weber identifies two main characteristics of Protestant belief, which encourage the development of Western capitalism: predestination and worldly asceticism. The paper states that Weber indicates that such beliefs create a psychological state of mind, which pressures the Calvinists to lead a successful life, defined in terms of money. The paper relates that some critics argue that it was not religion, which encouraged the development of Western capitalism, but the social exclusion of Protestants from professions; therefore, business offers the Protestants a channel to overcome their persecution. The paper includes quotations.
From the Paper
"Weber found "Occidental" capitalism to be different from the "other" forms in many respects. Firstly, there was a lack of free labor in the "others" system. Secondly, household work and business work were not separated, as in the west. Personnel property was kept apart from corporate property, rational book-keeping techniques were used, and a rational legal and administrative system existed, which Weber believed played a role to limit speculative and opportunistic capitalism. Finally, Weber also acknowledged the role of technical advancement in playing its part to encourage the development of Occidental capitalism."
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The Theories of Karl Marx, 2003.
A look at the strengths and weaknesses inherent in Marx?s critique of capitalism and the exploration of the relationship of Marxian theory in contemporary American society.
1,990 words (approx. 8.0 pages), 5 sources, MLA, $ 63.95
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Abstract
This paper examines how few bodies of thought have received more attention, aroused more controversy, and wielded more influence than that of Karl Marx. It discusses how, in the course of his break with Hegelian idealism, Marx developed an orientation toward society and history that he believed opened the way to new social sciences. It looks at how fundamental to his approach is the division of a social system into a material base, or a mode of production and a superstructure. It shows how Marx?s analytical framework on industrial capitalism is rooted in these early ideals and remains an essential part of critical analysis. It analyzes how, given the enormous changes since his time, certain strengths and weaknesses in his theories have emerged and attempts to understand the existing capitalist exploitation of wage-labor and worker alienation by applying his theories to American society today.
From the Paper
"The value of labor power (i.e., the amount of wages that the capitalist pays to the worker) is ?determined, as in the case of every other commodity, by the labor-time necessary for production? of the products that the capitalist intends to sell (Marx, 1962). In a Marxian society, in order to keep labor power circulating on the market, the capitalist pays a minimal level of subsistence so that he or she has to return to work. This is a compelling argument, but only if it can be proven that the person who has to return to work can find no other work substitutes that pay better. Why wouldn?t some capitalist offer a slightly higher wage to attract cheap labor away from the cheaper employer? "
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Biggart?s ?Charismatic Capitalism: Direct Selling Organizations?, 2004.
This paper reviews Nicole Biggart?s ?Charismatic Capitalism: Direct Selling Organizations? by comparing her theories to those of Max Weber.
1,425 words (approx. 5.7 pages), 1 source, APA, $ 47.95
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Abstract
The paper explains that both Weber and Biggart have discussed the commercial market by studying the roles, relationships, and structure of economic organizations. The paper points out that Direct Selling Organizations or DSO, as Biggart sees them, is an evolution of the entrepreneurial process, which combines the structural elements of the hierarchy with American ethics based on the need to incorporate social relationships within the context of the organization. The paper states that the method by which goals are accomplished differ from a bureaucratic organization in that independent distributors work under guidelines set up by a charismatic leader.
From the Paper
"The DSO relies on the on independent distributors to recruit new distributors who then choose the degree of participation they wish to contribute. This incorporates a sense (what Biggart calls an ?ideology?) of entrepreneurship that promotes profit through personal investment in the mission of the organization. To use Weber?s metaphor, members happily enter and exit a cage fortified by charisma. They do so by choice because it is profitable and, more so, because the organization reflects and promotes values in which they are invested. It?s not an organization as much as it is a way of life. The rules, policies and standards of the bureaucracy are replaced by "individualism, meritocracy, patriotism, religion, (and) community" (p. 10)."
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?The Protestant Ethic and the Spirit of Capitalism?, 2005.
This paper discusses Max Weber's "The Protestant Ethic and the Spirit of Capitalism", which theorizes on the role of religion in the emergence of capitalism in early modern Europe.
1,930 words (approx. 7.7 pages), 4 sources, APA, $ 61.95
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Abstract
This paper explains that, in his seminal work "The Protestant Ethic and the Spirit of Capitalism", Max Weber provided a new perspective of the emergence of capitalism by asserting that what made Europe or the Occident develop into a capitalist economy was because the majority of its people observed the Protestant ethic as their way of life, rationalizing that people's everyday actions are a pre-requisite for a society to develop into a capitalist economy. The author contends that the development of capitalism in early modern Europe was the result not only of Protestantism but also of Catholicism. The paper states that the generalization that religion had become the catalyst for capitalism to flourish in the continent is supported by the fact that religious institutions before and during the onset of capitalism have dominated the socio-political realms of Western societies, leaving no doubt that they also control the economic activities and institutions present in the society.
From the Paper
"Indeed, capitalism is "a very complex system of institutions, highly rational in character and the product of a number of developments peculiar to Western civilization." Those who are unable to adapt to these 'complex systems of institutions' and 'rational character' are bound to be left behind in the process, neither achieving development nor economic success. Moreover, those who are unable to adapt to this system are bound to maintain the "anxiety of not knowing" and "fear of damnation." Thus, in order to be included in the capitalist economic system, one has to integrate himself/herself to these complex systems of institutions through labor and attain a rational character by conducting profit-making activities. Through labor and profit-making activities, one involves in the "spirit of capitalism" and accomplishes what Weber has termed as the Protestant ethic."
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