Legalization of Marijuana Paper Research Example | Topics and Well Written Essays - 1750 words

Sanctioning of Marijuana - Research Paper Example â€Å"The conversation concerning the sanctioning of medications, essentially the delicate medications taking after cannabis (or weed) can be sorted as one which profundities the impression of freedom of the person contrary to the possibility of a paternalistic circumstance. Supporter of legitimization contends, between different things, that cannabis is least hurtful than lawful stuffs like liquor and tobacco† (Debate: Legalization of Marijuana standard. 1). As indicated by this discussion I feel the medication ought to be authorized because of the valid justifications of them,but as considering the child rearing issues, they should be kept inside specific cutoff points and the use ought to be precluded inside the particular age. In straightforward terms, the central discussion on maryjane in the US is, should cannabis be prohibited to residents bolstered on wellbeing assets, restorative standards, and costs to the nation. The purpose behind the contention is so noteworthy an d huge. As before expressed, pot is a normally utilized disallowed sedate on the planet, with a great many residents utilizing it. Roughly 100 million in the nation have utilized it thus any enactment concerning the medication blameworthy impact its residents. That the clarification behind the forbiddance of this medication is being reevaluated methodicallly, all things considered, and financially. Maryjane originates from the Cannabis Sativa plant. Its location in 2700 BC in China. The case isn't with respect to Marijuana being solid or exceptionally subjective for anybody. A couple of terms introduced in the discussion ought to be comprehended. Weed is formed when the leaves and female blossoms of the plant got hemp is dried out. THC or Tetrahydrocannabinol is the principle intoxicant of cannabis, and the THC from Marijuana with cerebrum receptors can cause a sort of tiredness, expanded craving, unsteadiness, mind flight, just as different sentiments. Topical Issues in the Dispute over Marijuana Legalization: Whether it has clinical worth? Is Marijuana harmful enough to remain unlawful? How can it diverge from other legitimate unlawful substances What is Marijuana’s outcome on our nation and how might legitimization change this? Of the four issues associated with the maryjane sanctioning, weed and its restorative use might be the most widely talked of all. Rivals of clinical cannabis convey up numerous significant discussions regarding why it must not be ignored. The American Medical Association in 2001 affirmed that Marijuana must stay a timetable 1 medication, in light of fundamental end that it has â€Å"no traditional clinical use† and own a â€Å"high opportunities for mistreatment†. The FDA has an express procedure, where the consolidated clinical and logical society do certain systems to choose whether medications can be estimated sheltered and fruitful as medication, and pot isn't acknowledged by this procedure. The administratio n likewise keeps up that maryjane clients are by all methods attempting to utilize â€Å"the clinical angle† as a system to get the medication legitimized. Health advantages: â€Å"The American Medical Association essentially contended for authorization of this medication as indicated by them it was least destructive when contrasted and liquor and cigarettes; they additionally state that it very well may be utilized as other counter prescriptions, they likewise expresses that the Marijuana, in its unique assortment, is one of the great remedially powerful stuff known to man. By any assessment of levelheaded examination weed can be safely utilized inside an overseen routine of clinical consideration. For pot to be unlawful in the United

Free Essays on Cd Evaluation

Disc Evaluation A couple of months prior I was flipping stations on my radio while heading to Louisville and ran over a station I hadn’t saw previously, Trance. In the first place, let me clarify, I have a XM satellite radio in my vehicle so radio broadcasts are gathered by classifications: Rock and Roll, Hip-bounce, blues etc†¦ As I was stating, I went over the station Trance and adversary some odd explanation I never saw it. The music sounded recognizable, I understood this was the music that I here in move clubs constantly and totally love it. By then I chose to make a bypass and get a portion of this music for myself, so I went to Best Buy. There are sure minutes in a youthful clubber’s life that we couldn't imagine anything better than to overlook. That long queue for a solitary bathroom, ten dollars for a jug of water, and the rundown continues forever. Be that as it may, there are a lot of others that we’d love to clutch and the music must be number one. For that I w ent to the craftsman that was shown on my sound system, Nick Warren. After showing up, best case scenario Buy I wasn’t sure were to search for Trance so once I got in the store I immediately found an agent and asked were to go. The salesclerk was a pleasant person, furnishing me with all the data I could deal with. We happened upon the techno area and he instructed me to search for Global Underground. It took a couple of moments, however I discovered it and shockingly there were more than forty determinations of the mark. Every CD was by an alternate craftsman and most were all in various urban areas and barely ever a similar city twice. I was completely flabbergasted. I never acknowledged daze was that huge. The salesclerk opened my eyes when he began to clarify that daze/techno is all over and in each club the world over, I calculated that much considering I have been to many move clubs and this was the sort of music that was played. I immediately discovered Nick Warren, paid for it, and hurried to the vehicle so I could entertain myself with some surrounding tones for some time, ... Free Essays on Cd Evaluation Free Essays on Cd Evaluation Compact disc Evaluation A couple of months back I was flipping stations on my radio while heading to Louisville and went over a station I hadn’t saw previously, Trance. To start with, let me clarify, I have a XM satellite radio in my vehicle so radio broadcasts are assembled by classifications: Rock and Roll, Hip-jump, blues etc†¦ As I was stating, I went over the station Trance and adversary some odd explanation I never saw it. The music sounded exceptionally natural, I understood this was the music that I here in move clubs constantly and totally love it. By then I chose to make a reroute and get a portion of this music for myself, so I went to Best Buy. There are sure minutes in a youthful clubber’s life that we couldn't want anything more than to overlook. That long queue for a solitary bathroom, ten dollars for a jug of water, and the rundown continues endlessly. In any case, there are a lot of others that we’d love to clutch and the music must be number one. For that I went t o the craftsman that was shown on my sound system, Nick Warren. After showing up, best case scenario Buy I wasn’t sure were to search for Trance so once I got in the store I immediately found a representative and asked were to go. The salesclerk was a pleasant person, furnishing me with all the data I could deal with. We happened upon the techno area and he advised me to search for Global Underground. It took a couple of moments, yet I discovered it and shockingly there were more than forty choices of the mark. Every CD was by an alternate craftsman and most were all in various urban areas and scarcely ever a similar city twice. I was completely astounded. I never acknowledged stupor was that large. The salesclerk opened my eyes when he began to clarify that stupor/techno is all over the place and in each club far and wide, I calculated that much considering I have been to many move clubs and this was the kind of music that was played. I immediately discovered Nick Warren, paid for it, and raced to the vehicle so I could entertain myself w ith some encompassing tones for some time, ...

Business Process Workflow Management Business Essay

Business Process Workflow Management Business Essay Business process the executives is significant for both existing and new organizations. BPM is otherwise called Business Process Reengineering. It is a lot of between related assignments that assist organizations with amplifying their current business procedures and adapt to future operational and authoritative changes. A productive business process sets aside and makes cash for an association. Work process, in its exceptionally essential sense, is a usage of the responses to the inquiries that emerge in a business procedure. Work process addresses the inquiries, who? What? What's more, When? in a business procedure. It is the development of archives or assignments through a work procedure. Business process work process the executives is a basic component in sorting out an assortment of business undertakings and procedures with the goal that the business can be profited all in all. Work process the executives frameworks go from the essential exercises of a business to a large number of complex highlights. Work process the board enables business chiefs to play out a ton of differing capacities relying upon the requirements of the association. Various organizations have diverse work process the board needs to perform shifted capacities for them. A few organizations need work process the board for sorting out information accessible on the net; some need them for overseeing different business exchanges though some need them for arranging and isolating all the archives of a venture. Work process the board is useful to a wide range of business independent of their size. It encourages them characterize and spot different procedures that will help increment proficiency over the long haul. Business process work process the executives assists with characterizing, make, execute and oversee different procedures inside the association itself and improve business-to-business exchanges to expand profitability. It encourages changes in the venture that are required for its improvement and augmentation of yield and benefits in the base time conceivable. It likewise helps an association in spotting existing wasteful aspects by keeping a consistent mind their representatives profitability. BUSINESS PROCESS MANAGEMENT JOURNALS Business process the executives is actualized to improve the viability and proficiency of a venture via mechanizing its business forms. The key figure included picking a BPM arrangement is to pick one that will fit the association in all circumstances, as conditions administering a business will in general change with variances in economic situations. It isn't plausible for an association to change its BPM as and when circumstances change. Business re-designing can mean genuine difficulty particularly when applied by individuals who don't get it. There are instances of thousands of associations that were running into misfortunes however therefore, accomplished wonderful benefits because of all around oversaw BPM ventures. The way in to the accomplishment of these organizations lay in applying BPM to their key business forms. Business process the executives diaries assume a key job in making businesspeople mindful of the overall business conditions and how to adjust to these progressi ons by applying the correct re-designing and procedure change ventures. BPM diaries are the excellent channel for fledglings, experts and analysts to procure driving edge data identified with current improvements in BPM ideas, practices, devices and advancements. It is a helping help for understudies considering BPM related regions and advisors who help associations in overseeing forms. They additionally give helpful articles that emphasis on quality and importance. BPM diaries give data about creating business process the board programs. They convey articles on various business exercises that influence business proficiency and adequacy. It gives data on joining and the executives of different exercises that help in having an edge over the contenders. Periodically, there exists a hole in seeing how to drive proficiency through a BPM approach despite the fact that one realizes how to deal with the different exchanges. BPM diaries help understanding the different BPM capacities and assists loading up with increasing the holes for genuine business execution. Some BPM diaries give bits of knowledge into best practice the board of key procedures. These diaries keep up a steady up date of all progressions made in the business field and outlining the handy relevance of these through different contextual analyses and models. They additionally give tips on the most proficient method to oversee business forms most viably. BUSINESS PROCESS MANAGEMENT SOFTWARE SOLUTION Business process the executives centers around the robotization and normalization of existing and future business forms. BPM is the way to expanding an associations income, quality and react to clients needs progressively by diminishing business process issues. BPM instruments and procedures have been consistently picking up in notoriety and use in numerous organizations. In todays worldwide business condition, the requirement for mechanization of different business forms, persistent development and adaptability is turning numerous ventures to go for BPM. BPM programming helps in comprehension and rearranging the intricate procedure of business the board. It helps in perceiving the different wellsprings of wasteful aspects in an organization. There are a couple of key factors that must be remembered while choosing BPM programming. One of these elements is the degree of specialized help gave by the seller. To maintain a strategic distance from any specialized problems at a later stage, it is fundamental to talk with the client care focus of the product organization before picking the BPM programming arrangement. This ought to be finished thinking about the necessities and prerequisites of the business. BPM programming that fits in with a companys business should be resolved before picking a BPM programming arrangement. A similar programming sometimes falls short for a wide range of organizations. Commonality with the product introduced is of most extreme significance. Adequate time ought to be given to this action of getting prepared i n utilizing the product. BPM programming with highlights that are not utilized is an outright misuse of assets and time on the grounds that the primary reason for BPM programming is utilizing least time and cash and amplifying benefit over the long haul. A few magazines and surveys are accessible online to give important data in regards to BPM programming arrangements. BPM programming offers points of interest of adaptability and cost investment funds over all fields of business and usability in the business world today. The target ought to be to guarantee snappy rate of profitability and potential for long haul development. A GUIDE TO BUSINESS PROCESS MANAGEMENT Business Process Management (BPM) enables an association in adjusting to changing conditions in the market to put to stay serious. BPM is otherwise called Business Process Reengineering. An all around planned BPM framework can enable an endeavor to run productively and viably, move as per the companys guidelines, and spot wasteful aspects in the business exercises and bottlenecks to the smooth progression of work. BPM frameworks help in perceiving certain circumstances that may present difficulty later on. They improve the general quality and amount of the different administrations and items being given by the association. BPM can be very helpful to representatives and top supervisors of an endeavor. It helps the top officials in observing business exercises and representative profitability. It is useful to the representatives as it lessens their working hours. It likewise enables an association in complying with the legislative standards and guidelines to set for the business world. A decent BPM helps an association in keeping away from the errors it has made before. It encourages in business-to-business exchanges. There are a great deal of BPM guides accessible which can coordinate an undertaking towards the correct decision of BPM with the goal that it can utilize all the advantages of BPM. These aides help in understanding different BPM frameworks that can be utilized by the necessities and prerequisites of various organizations. It shows how most extreme benefits can be acquired out of constrained assets. The changing circumstance of business is the key factor to be thought of while picking a BPM framework. BPM framework ought to be helpful in all circumstances, which influence the business. This is on the grounds that the framework can't be changed as when the economic situations change. The effectiveness of the organization would be unfavorably influenced if BPM frameworks were not changed as per evolving conditions. BPM advances increment a ventures potential to offer quality administrations to its esteemed clients in any event cost. .

Standardized Test Prep June 1st SAT Subject Tests SAT

Hello dear readers! The Writing Wizard is back with a few quick tips to help you prepare for the last few weeks before test day for your SAT-I and SAT-II Subject Exams. If you have been reading this excellent blog, then you know that other posts from April and May have been providing dynamite advice on how to structure your testing schedule week by week, how to tackle particular kinds of problems, and what to do on testing day to maximize comfort and minimize stress. In this post, however, I want to provide you with a few pointers about what to do in the crucial run-up to test day, the last three weeks or so before you sit for the test. So, read carefully, and enjoy! 1. Focus on the hardest stuff first. As an SAT tutor, one of the biggest elements in test preparation is isolating the particular problem areas that each test-taker has. For some folks, fractions questions or trigonometry are the banes of their existence but reading comprehension is a breeze. For others, it’s the other way around†¦ If you have been keeping track of the kinds of questions that have been giving you the most trouble throughout your test prep process, the last few weeks of your schedule are a great time to bring a heightened attention to these sorts of problems. Set aside a block of time each day to drill these problems, work through the answers methodically, reviewing the structure and the language of the questions, etc. Expose yourself to these problems consistently and you will ultimately learn their tricks. The sooner you’ve accomplished that, the sooner you’ll be able to crack these questions quickly and efficiently. 2. Train your body for the test. Many students take sample full-length tests in advance of the test date to prepare their minds for the exertion that the test will surely bring. But students often forget to prepare their bodies for the fatigue that goes along with test taking. If your test is on a Saturday morning at 8:30 AM in a school classroom but you have been preparing your sample tests in your coziest chair in your living room at noon on Sunday, you are not giving your body or your mind similar conditions to test day. This can be a real problem for students who have not taken into account all of the small ways that discomfort, stress, noise, etc. can chip away at their ability to focus and perform well. In the last few weeks, try to recreate the conditions of test day as much as possible. Find a public place with some noise but not too much, and begin and end your testing at the same times as on the real test day. Try to get as much sleep as you anticipate getting on the real day as well. If you train your bod y in advance to manage the ambient conditions of the real testing environment, your test practice will be better preparation for the challenges that real test day will bring. 3. Take three in a row. People have very varied opinions about how much test prep is too much. Obviously you want to know every type of question that will be thrown at you, but you don’t want to be taking SAT practice tests every weekend for a year. Regardless of how many previous full-length tests you have taken throughout the diagnostic and preparation phases, I always recommend to students to block off the last month of their process and take one full-length test a week for the three weeks prior to test day, on the same calendar day at the same time as the real test. What this means, of course, is that the real test will be the fourth test in a row, closing out the month and concluding the test prep process. Now, most students are not, shall we say, overly enthusiastic about waking up early four Saturdays in a row and grinding through a full SAT before lunch. But this is precisely what will train your body and mind to tackle the test with ease. The test becomes easier with practice, and practice m eans exposure – not only to different types of questions and formats, but also to the physical demands of the test (see my second point, above). If the real test is the fourth in a row, taking an SAT will seem normal to your mind and body†¦maybe even natural. It won’t be a shock to the system, because you’ll already feel comfortable using your brain in a demanding way at an early hour on a weekend. And if you’re feeling comfortable, you’ll perform well, avoiding burnout, stress, and fatigue. So, block off that last month, and learn to love the test. These are just a few things to keep in mind as you finish off your standardized test preparation and gear up for your testing dates. Check back for more tips and tricks on the blog in the next few weeks, and as always, enjoy! ;

Sea Symbolism in Annie John - Literature Essay Samples

As a Caribbean author, Jamaica Kincaid submerges Annie John, the novel, in rich sea symbolism. Living on the island of Antigua, and with Dominican parentage, the novel Annie John is immersed in deep, sea imagery, in which the author connects Annie John’s insular origins with the themes of (i) birth-rebirth (ii) childhood (iii) journey and immigration (iv) history (v) mother and motherland and (vi) separation-death As a terrific mass of water, the sea evokes images of the womb, the West Indian navigation of Christopher Columbus in conquest of New World gold, the horrendous Middle Passage during the period of Chattel Slavery, consequent colonialism, and contemporary immigration. From the times of our ancestors to modernity, the seas have moulded life in diverse ways. Jamaica Kincaid portrays the sea as the medium of birth and rebirth. The human foetus playfully swims in amniotic fluid, a natural water environment, in its mother’s uterus until delivery. This water in the womb nourishes the unborn during the 9-month incubatory period, completely surrounded by a life-giving essence. In the same way for Annie John, from birth, she is enclosed in the blue Caribbean Sea. One of her favourite pastimes as a child includes naked sea-bathing, â€Å"since this bathing in the sea was a medicine and not a picnic, we had to bathe without wearing swimming costumes† (Kincaid 42). She never dreams that she would finally be separated from her island home, but in the end, she is reborn – fully mature as a young adult and ready to experience an outside world without her mother. Further, as Annie John travels by ship to pursue her studies, she puns on the word â€Å"berth† symbolising a rebirth of sorts as she launches out on a journey to new terrain. â€Å"I †¦ lay down on my berth †¦ I could hear the small waves lap-lapping around the ship. They made an unexpected sound, as if a vessel filled with liquid had been placed on its side and now was slowly emptying out† (Kincaid 148). As she hears this sound, it is reminiscent of the point of delivery of a child, as labour is induced and the water breaks, signalling the end of term of a pregnancy. The amniotic fluid empties in preparation for labour and the emergence of a new life. In her girlhood, Annie John enjoys the game of marbles likening it to the sea. Employing rich, descriptive terminology, she elucidates on her first encounter with marbles â€Å"it was my mother who gave me my first marbles †¦ they looked to me like miniature globes, the white representing the seas, the colours representing land masses† (Kincaid 55). In her eyes, the marbles resembled planet Earth, diagrammed with land and seas. The sea imagery here enables Annie John to see herself as one, in a sense, holding the world in her hands, toying and manipulating it to her own fancy. When scrutinising the game of marbles, the layout includes a wide circle in which are positioned several marbles, parallel to the galaxial system in which revolves several clusters of planets. Sea imagery retains a potency in the novel as the channel of change and rediscovery, underlining the theme of personal journey. Annie John’s parents both migrate to Antigua from Dominica, fleeing family crises and economic challenges. At the book’s conclusion, Annie John too must escape her beloved island home, bound for England to improve her prospects there. In the era before air-travel became common, navigation stands as the only medium of transport (especially for the poor). These characters embark on a metamorphosis and self-discovery in which they must remove from their once familiar environment to the great unknown. Personal, national and world histories are united by sea imagery in Annie John. In her history class, she learns from her texts about Christopher Columbus and other European explorers who sailed to the ‘New World’ on a mission to aggrandise themselves, under the famed three-fold dictum: God, gold and glory. Afterwards, British and French voyagers and buccaneers navigate to exploit the newfound islands of their wealth. She unmistakably remembers, â€Å"a picture of Columbus that took up a whole page, and it was in colour – †¦ at the bottom of the ship† (Kincaid 77). Annie John also evokes the time of slavery, when her African ancestors would ride aboard ships, surviving the horrific Triangular Trade and treated as living cargo. In her modern world, her seafaring parents and later she herself would flee their homes that restrict their movements and possibilities for progress to venture into a new land of promise. The sea in Annie John depicts a prevailing spiritual connection to the mother. As an unborn child relishing in its maternal connections, and encased in amniotic fluid, Annie John, in the initial stages, glories in the intimacy existing between herself and her mother. She bathes with her mother in the sea, perches herself on her mother’s back and in time of loneliness and danger, cries out for her mother. Likewise, in Antigua, her own motherland, she loves her little island home with her adoring parents. From her spirited and mischievous schooldays, the reader understands that her protective family feed her with lots of fish (one abundant food source in the Caribbean) as they instruct, strengthen and sustain her until young adulthood. Nevertheless, these times pass as her mother induces labour and causes an eternal separation. On her way to the port on her journey to England, she recalls: â€Å"I passed by sounds and smells that were so familiar that I had long ago stopped pay ing any attention to them †¦ but now here they were, and the ever-present ‘I shall never see this again’ bobbed up and down inside me. (Kincaid 145). The sea incidence of little Annie John augurs the gradual estrangement from her mother and her development into adulthood. Propped on her mother’s back â€Å"arms clasped tightly around her neck† (Kincaid 42), Annie John and her mother delight themselves bathing in the sea, building sand castles and enjoying one another’s company. Strangely, they drift apart and in terrified panic, Annie screams for her mother as she could no longer see her (Kincaid 42, 43). This traumatic event recurs as a cryptic dream, reminiscent of her alienation and imminent separation from her mother. In her girlhood, Annie John takes pleasure in the warmth, sweetness and closeness of the mother-daughter relationship: visiting the town together, listening to stories and relishing mouth-watering dishes. However, as she enters adolescence, her mother becomes colder and more distant. Annie laments much later as she marches to the boat bound for England (from an estranged mother to the motherl and): â€Å"Why, I wonder, didn’t I see the hypocrite in my mother when over the years she said that she loved me and could hardly live without me, while at the same time proposing and arranging separation after separation, including this one, which unbeknownst to her, I have arranged to be permanent?† (Kincaid 133). As Annie John and her mother finally part ways, the large distance renders her (mother) â€Å"just a dot †¦ swallowed up in the big, blue sea† (Kincaid 148) As the book concludes, Annie John returns not to Africa, her ancestral motherland, but England, the colonial motherland to further her education. She ironically explains her departure from Antigua in sea imagery, closely resembling that of a sea buoy defying gravity: â€Å"I passed by sounds and smells that were so familiar that I had long ago stopped paying any attention to them †¦ but now here they were, and the ever-present ‘I shall never see this again’ bobbed up and down inside me† (Kincaid 145). Even as she navigates her way through life, she realises her life will not only be always surrounded by the sights and sounds of the sea, but also inside of her. Bibliography Kincaid, Jamaica. Annie John, Vintage Publishers, 1997.

A Clockwork Orange as an Allusion to Platos Mimetic...

According to Plato, a philosopher enters the realm of universal knowledge when his understanding is purely an abstract science. At this stage, the philosopher is in touch with the ultimate â€Å"Form of the Good,† and knows what is best for man. Imagination plays an integral role in reaching the Form of Good, because it serves as a means to which students can understand abstract ideas and eventually reach universal thought. In his pre-modern narrative The Republic of Plato, however, Plato finds that society can be easily consumed by the mimetic imagination, in which people are tricked into believing that the imaginary is reality. Plato’s condemnation of the mimetic imagination alludes to Stanley Kubrick’s postmodern film, A Clockwork Orange†¦show more content†¦Plato finds this as a sufficient reason to denounce it as â€Å"an agency of falsehood.† Allegory of the Cave Plato’s Divided Line of four ways of thinking lead into his Allegory of the Cave, which depicts four ways of living. The Allegory of the Cave illustrates the effect of education on the human soul, specifically how it brings the student through the four divisions of the Divided Line, all the way to the Form of the Good. The scene is set in a dark cave, where a group of prisoners have lived, and never left, since birth. The prisoners are bound by chains so that they can only look straight ahead at the cave wall. A fire is lit behind them, and various statues are mounted on a partial wall behind the fire, which cast shadows on the wall the prisoners are facing. The statues are periodically moved by another group of people, of whom the prisoners are unaware of. The stories that the shadows play out is what the prisoners believe are the most real things in the world. Thus, the prisoners are in the stage of imagination, because the shadows that they take to be r eal are copies of copies of the transcendental being. They exist in a â€Å"world of becoming,† and cling to images of the constantly changing physical world. A prisoner is then released from his bonds and turns around to look at the fire and statues. At first he feels pain and confusion, but then realizes the shadows he has

The financial crisis has encouraged corporate governance - Free Essay Example

Sample details Pages: 17 Words: 5164 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Governance is a term that refers to how the government uses authority and power to set the rules and regulation, to govern the people, in order to achieve continuity to national development. Corporate governance is a multifaceted topic. Corporate governance is a very important part of the face of responsibility, trustees responsibility to shareholders and others of information disclosure, auditing and control mechanisms. Don’t waste time! Our writers will create an original "The financial crisis has encouraged corporate governance" essay for you Create order This person should be responsible for corporate governance in accordance with all aspects of the hand is. Another important focus is economic efficiency, both internally (such as best practice guidelines) and outside the company (such as the national system of systems). In this economic view, is an optimal corporate governance system should detect and prevent fraud results and designed. Recently, the public was quite the interest in corporate governance practices, especially since the Enron Corporation and WorldCom that the collapse of large companies has caused public concern. The principles of corporate governance include several elements: honesty, trust, integrity, openness, performance orientation, responsibility and reliability, mutual respect and commitment to the organization. The most important thing is how directors and management of the establishment of governance model for the other participants can be based on the value of the company, and can effectively evaluate its effectiveness regularly. In particular, the performance of senior executives was an honest, ethical, especially in the face of conflicts of interest and the time to disclose financial statements. There is no global standard definition on corporate governance. Cadbury Report (1992) define that the corporate governance is the system by which companies are directed and controlled. However, the corporate governance as including a set of relationships between companys management, its board, its shareholders and other stakeholders, and provides the structure through the companys goal setting, and identify those objectives and monitoring performance was described the Organization for Economic Co-operation Development (OECD) (2004). The Malaysian Code on Corporate Governance(2000) defined Corporate governance as process and structure used to guidance and management services for the business and affairs of the company to strengthen accountability and business prosperity and long-term sha reholder value with the ultimate goal, taking into account the interests of other stakeholders. Before to the financial crisis in 1997, Malaysia has become known as the East Asian miracle was due to its high growth rate 8.9 per cent by an average of one economic system in maintaining during the period 1988 to 1996. Besides that, the country to low inflation rate of about 3-4 per cent per year. In addition, the growing focuses on manufacturing, especially in electronics. Moreover, the country also makes certain in high employment rates.'(Mohamed Ariff and Syarisa Yanti Abu Bakar (1994) Under the impact of the financial crisis, the Malaysian financial markets in turmoil, banks verge of bankruptcy, a large number of companies in trouble, and many workers were unemployed. Significant decline in domestic private demand, resulting in sharp decline in investment, real GDP fell by 7.4% in 1998, and lower consumption. Therefore, unemployment rate rose, inflation doubled and the currency f ell. (WTO, 2001) The financial crisis has encouraged corporate governance reform in East Asia. Nowadays, the corporate governance of a country more focuses on checks and balances. As a consequence, Malaysia has aimed to improving corporate governance practice. Corporate governance in Malaysia emphasis on separation on company management and ownership, roles and responsibilities of managers and directors, increased disclosure of corporate non financial information, and improved on internal control.'(Jill Solomon, 2007) 1.2 Research Problem Since corporate governance is very important to listed company in Malaysia. The shareholders and investors are maintaining their wealth maximization. So, in this research paper, our main study is to identify whether the better the corporate governance result in better share price? Then, we will overview how corporate governance affects corporate performance? 1.3 Research Objectives In this research paper, our main objective is to examine the better corporate result in better share price. Then, we will identify whether good corporate governance will affect firm performance. 1.4 Scope of the Research In this research paper, I will select 30 public listed companies those are listed in Bursa Malaysia. After that, I will compare corporate governance measures of all the 30 public listed companies in annual report which in year 2009. 1.5 Organization of the Research The study is organized as follows. Chapter 1 introduces the research problems and objectives. Chapter 2 explores the relationship between corporate governance and share price with the aims of developing a conceptual framework of how corporate governance would affect the share price. Chapter 2 also provides a definition of corporate governance and examines the factors likely to influence the share price. It then goes on to examine how to measure and identifies the measures used in previous empirical studies. In Chapter 3, three hypotheses are formulated and a signaling model using regression analysis developed to test the predictive ability of corporate governance measures in annual report. The essential features of the research design and testing approach are also explained. Chapter 4 provides summary statistics and the empirical results of the study. The final chapter summarizes the main findings and implications of the study. It also discusses the limitations of the study and pos sible directions for future research. CHAPTER 2 SURVEY OF LITERATURE 2.1 Introduction Most of the survey of literature which examined the link between corporate governance and firm performance focus on a specific facet of governance, such as the right and duties of shareholders, remuneration committees, the appointment of directors, the attendance of non directors at board meetings, transparency and disclosure, responsibilities of the board, internal control, and alliances and merges. Besides that, study the impact of a complete set of governance standards on firm performance came close by profitability ratios that there is quite little empirical literature. Net profit margin and return on equity are the examples of profitability ratio on firm performance. The corporate governance should lead to higher share price or better firm value from those advocates of agency theory. Eisenhardt (1989) emphasized agency theory identified mechanisms which reduce agency loss. Thus, it will maximize the wealth of shareholders and investors. It is frequently assumed that boar ds of directors are more independent as the proportion of their outsider directors increases (John and Senbet 1998). Nevertheless, there are no relation between proportion of outsider directors and Tobins Q which found by Hermalin and Weisbach (1991); there are no connection between the proportion of outsider directors and Tobins Q, assets turnover, return on assets and stock returns which found by Bhagat and Black (2002); and there are no linkage between the proportion of outsider directors and various performance measures. On the other hand, there are some advocators shown there are relationship between proportion of outsider directors and performance measures such as Baysinger and Butler(1985), Rosenstein and Wyatt(1990) ,Brickley, Coles and Terry(1994), and Anderson, Mansi and Reeb(2004). 2.2 Board Activities 2.2.1Board Meeting In relation to effective governance board meeting has also been studies. In developing the efficiency of a board the board meeting time is an important resource which suggested by Coger et.al (1998). The bank holding companies meet slightly more often than manufacturing firms which study by Adam and Mehran (2002) on board meeting of financial and non financial firms. Adam and Mahran (2002) found that the average number of board meeting per year is 8.45 which are close to 7.45 meetings a year reported by Vafeas (1999).Even so, there had a negative correlation between the number of board meeting and performance which found by Vafeas (1999). It is means that the more often board meeting, the less value of the firms. This is because of the view that higher board meetings follow poor performance. Further tests point out the following years of unusually high meeting frequency when raising the operating performance. Raising their level of board activity is linked with developed operating performance that boards respond to poor performance in such result conclusion. A response on the importance of meeting but MAICSA was emphasized with the issuance of guidelines (Abdul Hadim M. Fazilah and Md Ishak Ismail). On the other hand, the number of meeting in a year together with directors attendance should be disclosed and the board should meet frequently that suggested by The Malaysian Code on Corporate Governance. 2.2.2 Board Committee In corporate governance the board committee has an important role by improving in keeping an eye on management and enhancing the decision making by the board and accountability to shareholders. The aspect of the boards linked to committee may affect performance recognized by Klein (1998). In particular, it was argued that there is positively relation between the proportion of insiders on the financial committee and firm performance. Nonetheless, a study by Weir et. al (2001) found that talent of committee members and independence of committee membership has no effect on performance. Finding from Vafeas and Theodorou (1998) there is no evidence to support the view that the structure of board sub committees considerably affected firm performance. Each board on average has 4.42 committees and each committee member sits on 1.87 committees that shown by Adams and Mehran (2002). Malaysian Code on Corporate Governance and Bursa Malaysia listing requirement but involve compensation and rem uneration of directors and committees to handle the matters pertaining to nomination of directors and internal control and integrity of the external audit (Abdul Hadim M. Fazilah and Md Ishak Ismail). 2.2.3 Remuneration To settle the conflict of interest among the managers and shareholders remuneration provides as an instrument. Remuneration as an important mechanism of corporate governance is the incentives of top management have been characterized which indicated in John et.al (2001). The firm performance will be affected by the director compensation which bring out by Brick, Palmon and Wald (2002). Regarding to banking institution, Anderson and Campbell (2002) recommended that breakdown to state significant incentives by Japanese banks led to the extension of credit to smaller, less well- known borrowers and increasingly secured such loan with overpriced real estate in the 1980s. The compensation is termed as Deferred Compensation or Deferred Stock and in the form of cash and stock (Abdul Hadim M. Fazilah and Md Ishak Ismail). Almost 95% of the firms have deferred compensation plans for their directors according to Adam and Mehran (2002). In contrast, the firms provide an option of cash or stoc k to their directors only 31%. To examine the implication of having different level of both type of compensation on the firm performance which the studies have been carried out. Adam and Mehran (2003) argued that manufacturing companies possessed a mean that the value of granted option was 60 percent larger than the sum of base salary and bonuses, using a measure of Ratio of Value of Granted Option to Salary plus Bonuses. Houston and James (1995) shown that financial firms as represented by bank holdings were said relied on lower stock options. The difference was due to expansion status of the industry. Smith and Watts (1992) and Mahran (1992) were suggested that low growth industries proxies by Tobins Q ratio rely less on stock based compensation. The boards of a low growth industries can evaluate observe and monitor the actions of CEOs easily so rely more on fixed rather than stock based compensation. The bank holdings companies into a low growth industries was attributed lower To bins Q of 1.0 compare to the manufacturing with 1.9 according to Adam and Mehran(2003). Moreover, they argued it might make easier for the board to monitor CEO actions while the bank holdings companies sample which smaller stock return volatility. Directors remuneration should reflect the commitment and responsibility and should be significant of the directors which required by the Malaysia Code on Corporate Governance. Remuneration should link level of responsibilities as well as rewards to experience in the case of executive director. The remuneration committee including mainly and wholly of non executive directors should make a decision on the level of remuneration for the executive directors. In contrast, the board as a whole should determine the remuneration of the non executive directors. In the annual reports, the details of the remuneration of each director are required to disclose by the companies. 2.2.4 Transparency and Disclosure The financial transparency is an important instrument that provides credible assurances to shareholder, creditor, and depositor that they will avoid doing from fraudulent activities. In Mitton (2002) and Coles et. al (2002), one of the mechanisms had been measured financial reporting or disclosure quality in evaluating the corporate governance of a firm. Shareholders are able to attain complete and convenient information about companys governance characteristics and its financial matters in disclosure measure. For example, the firm should release information on their board committees, members, and structure and stock option prices and its remuneration. Appointing reputable external auditors may be achieved higher disclosure quality. In general, reputable external auditors referred to one of the big 5 international accounting firm (Reed et. al, 2000; Mitton, 2002; Titman and Truman, 1986). Through the mandate disclosure requirements of the listing exchange, the higher disclosure qua lity can be properly worked out. Increased study of the firm report and high demand for disclosure from the investors would improve the disclosure quality of a firm which in informal technique. In August 2002 released the Guidelines on make easy the benchmarking of audit standards of our listed companies with the international standards and matter relating to internal audit functions by Institute of Internal Auditors the internal audit functions to support the boards of directors t o complement the measures. The task of companys audit committee to strengthen the independence of the external auditor also underlined in the Code. As a result, only increase the transparency of listed companies, investors can grasp the true, accurate, complete, timely and impartial information, and ultimately the formation of all the shareholders of listed companies and the positive interaction between the relationships between the maximization of corporate value and achieve the best interests of all sha reholders 2.2.5 Foreign Ownership By having foreign ownership with reputable foreign firms, development on corporate governance can be attaining at the firm level. This is because of one of the firm has practiced different and addition of new standards. The foreign bank brought new information technology, management technique and mechanisms and forces the domestic bank to implement when they are entry as said by Peek and Rosengren (2000). It is still positively act in response by the market. When the firms within the industry acquired by foreign firms coming from countries with better accounting standard and better shareholder protection, Bris and Cabois(2003) concluded that the industry performance measured by Tobins Q increases. By upholding the regulation of 30% limit on foreign ownership of the banks, Malaysia defends its domestic banks for the period of the crisis. 2.3 Board Structure 2.3.1 CEO Duality When the same person holds CEO and the chairperson then the agency problem likely is higher. Daily Dalton (1992) and Brickley et al. (1997) are no finding any relationship between CEO duality and performance of firms. Efficiency in monitoring management that said by Hannifa and Cooke (2000) could be improved through CEO-Chairman duality, because reducing in information asymmetry and needing in contract is less where assumes the position of CEO and Chairman all together by one person. The combination of the CEO and chairman will allow the CEO focus their power to make a decision on their self- interest. Consequently, the separation of the position into two can spreads out their power and permit the board to more completely carry out its fiduciary duties. The separation of the position on CEO and chairperson the firms are more valuable that argue by Yermack (1996). However, Goyal and Park (2002) find that with CEO duality, the CEO turnover to firm is higher for companies. There i s also a positive association between separating the functions of the CEO and firm performance which found in Sanda et al (2003). In Malaysian Code on Corporate Governance (2000) nobody has tolerant power of decision since there is a condition of balance authority and power between CEO and Chairman. 2.3.2 Board Size Based on the board size performance relationship for financial and non financial firm there were different finding. The board size has a negative relationship to firm performance for non financial firms. There is the negative relationship between board size and Tobins Q which found by Yermack (1996). In addition, when using small size sample of firms, there is also find negative relationship between board size and profitability of the firms. A number measured quite small in those markets when they found that firm valuation is highest which the finding in firms listed in Malaysia and Singapore by Mak and Yuanto(2003). Lipton and Lorsch (1992) and Jensen (1993) had recommended a possible factor affecting monitoring quality based on board size. From larger boards, CEOs are able to take out better pay that found by Core, Holthausen, and Larcker (1999). Even as Shivdasani and Yermack (1999) reported a size of 11, Vafeas (1999) recognized a board size of 12. To explain for a larger board there are some different reasons. Institutional shareholders before the increase in activism the board size are supposed to increase. Based on the study on Hermalin and Weisbach (2001); Yermack (1996); and Baker and Gompers (2000), to create larger boards due to positive correlation of board size with firm size. Adams and Mehran (2002) found the evidence that shown positive relationship between board size and Tobins Q. 2.3.3Independent Board of Directors Independent is refers to independence from the major shareholder and independence from management that set by Malaysian Governance Code and requirement of listing in Bursa Malaysia. The board independence is linked with the entry of outsiders into the board. According to Adams and Mehran (2003), increase in the proportion of outside directors on the board should increase firm performance since they can effectively in monitoring the managers. Measurement in terms of ratio of outside directors to board size based on the proportion of the outside directors. Based on the study by Adams and Mehran (2002), there is no relationship between the proportion of outsiders on the board and Tobins Q which finding on board independence performance. Moreover, Hermalin and Weisbach (2001) said that the higher proportions of outside directors are linked with better decisions regarding such as CEO turnover, acquisitions and executive compensation but not linked with better firm performance. On the ot her hand, in the occasion of acquisitions and merges, it was found that offer premiums increase with the independence of the targets board (Brewer III et. al., 2000). In Byrd et al (2001), there is positive relationship between the proportion of independent directors in the board and survival of firms. Although number of outsiders sitting on the board is regulated by certain regulation. At least one third of the board to include of independent directors that released in January 2001 by Bursa Malaysia (formerly known as Kuala Lumpur Stock Exchange (KLSE) listing requirements amendments. 2.4 Audit Committee There is no finding relation between earning restatements and fees paid for financial information system implementation as well as audit committee independence provides non audit services which by Kinney, Palmrose and Scholz (2004) and Agrawal and Chadha (2005). Nevertheless, some advocators find some evidence to prove there is negative relationship between earnings and audit committee. The negative relation between earnings management and auditor independence was shown by Frankel, Johnson and Nelson (2002). Moreover, Klein (2002) was shown a negative linkage between earnings management and audit committee independent. Furthermore, in Anderson et al. (2004) found that totally independence audit committees have lower debt financing costs. Based on the above evidence, Ashbaugh, Lafond and Mayhew (2003) and Larcker and Richardson (2004) were not agree with them. In Smith Report (2003), audit committee such as a mechanism that improve effectiveness and keep an eye on company management as well as make sure external auditors objectivity and independence. 2.5 Summary When there is a separation of ownership and control, in general, corporate governance refers to set of mechanisms that influence managers make decisions. The study of this chapter is on the relationship between corporate governance and firm performance. I have accessible a variety of ways to enhance corporate governance. As discussed above, some of the predictable variables used as measures of corporate governance are board meeting, board committee, remuneration, transparency and disclosure, foreign ownership, CEO duality, board size, independent of board of directors and audit committee. Covers a wide range and extensive of corporate governance internally and externally put in place that found in those mechanisms. CHAPTER 3 RESEARCH METHODOLOGY 3.1 Introduction This chapter presents the research design. Firstly, the theoretical framework is developed based on literature review carried out in the earlier chapters. Secondly, the research hypotheses to determine that there is relationship between corporate governance and share price. By using the connected dependent and independent variable to analysis the relationship of corporate governance, we examine the factor of share price and firm performance. At the moment, we will present the multiple regression analysis to compare the entire variable. Finally, we will use t-testing, F-testing and R square in our statistic analysis. In this chapter we will select 30 samples from Bursa Malaysia in random which all in ACE market. We can compare since all 30 samples that we selected are in year 2009. 3.2 Theoretical Framework Good corporate governance will bring better share price to the firm? There are evidences to prove that good corporate governance really can improve firm performance. So, how corporate governance affect the firms share price? The four independent variables set in this chapter such as number of independent non-executive directors; attendance of board meetings; attendance of audit committees and directors remunerations will affect the two dependent variables which are firm value(share price) and firm performance(earnings).The firm has poor corporate governance then its firm performance may not pretty well. However, if the firm has good corporate governance its firm value will increase. The higher concentration on ownership will bring up the firm value. According to Coles et al (2002), as well to board members fiduciary responsibility they will have personal wealth incentive to monitor managers with the proportion of ownership. Furthermore, a firm with good corporate governance will pr otect and maximize the wealth of investors. Thus, a firm with good corporate governance will ensure the company is run to achieve its goal, checks and balances to reduce abuse of power and promote fair treatment to the stakeholders. Dependent Variables Independent Variables 1. Independent Non-Executive (INE) 2. Attendance of Board Meeting (ABM) 3. Attendance of Audit Committee (AAC) 4. Directors Remuneration (DR) Figure 3.1: The theoretical framework in describing relationship between the independent variables and the dependent variable 3.3 Research Hypotheses The study is considered to look at the relationship between corporate governance and firms performance. There are many factors that affect a firms performance such as internal and external perspectives. Nevertheless, it is take for granted that all factors contributing to firms performance have same stage of influence on the selected samples which in investigating the linked between corporate governance practice and firms value. Hence, the following hypotheses have been developed: H10: There is no significant relationship between corporate governance practices and firm value. H1A: There is significant relationship between corporate governance practices and firm value. H20: There is no significant relationship between corporate governance practices and firm performance. H2A: There is significant relationship between corporate governance practices and firm performance. These two hypotheses were developed in generally will run company which always maximizes shareholders return which would explain in better firms value. 3.4 Dependent Variables There are two dependent variables in this study which are share price and earnings. This is because corporate governance practice of a firm will affect its firms share price and earnings. 3.5 Independent Variables The four types of independent variables in this study are:1) Number of Independent Non-Executive Director; 2) Attendance of Board Meeting; 3) Attendance of Audit Committee and 4) Directors Remunerations. Independent Non Executive Director can effectively in monitoring the managers while there is positive linkage between independent non executive director and firm performance. Board meeting time is an important resource for the board of the efficiency. Therefore, number of director who attends the board meeting can be one of the independent variable. Since, the audit committee as an important tool to improve the company performance then we set attendance of audit committee as one of independent variable. The remuneration can resolve the conflict of interest between managers and shareholders. For that reason, directors remuneration will encourage to improve the firm performance. 3.6 Sample and Data Collection 3.6.1 Target Population In this study, all the public listed companies listing in Bursa Malaysia as our population target. 3.6.2 Sources of data The source of data is base o n the secondary data. Annual report was the majority of the data that search from website. Normally, seek the data by company list on Bursa Malaysia Stock Exchange. The library books, website, newspapers and magazine also use to search for secondary data. We examine the factor likely influence share price by using the related dependent and independent variable to analysis the relationship of corporate governance. The sample of company and the data of annual report collection that would select from list on Bursa Malaysia of 30 Company in ACE Market and examine data period for year 2009 performance of financial statements and annual reports. The dependent and independent variables analysis are based on financial statements and annual reports of post on Bursa Malaysia list of company. 3.6.3 Criteria of Selection of Sample For study the corporate governance practice, the prior researcher measure the relationships of corporate governance are empirical evidence base on company annual report for examine the relationship with share price. The Bursa Malaysia group of company operate fully incorporated stock exchange and offers a whole range of exchange relate service. All the listed company must fulfill which are set out in the listing condition on Bursa Malaysia securities Bhd in the listing requirement and disclosure standards. Therefore, all the data listed in Bursa Malaysia are relevant and reliable. The samples were chosen randomly in ACE Market which list in Bursa Malaysia. Appendix 1 is the list of all the company that I choose to analysis their value and performance. 3.6.4 Period of Study The period of study will cover only one year of annual report which is in year 2009. 3.7 Data Analysis 3.7.1 Multiple Regression Analysis- Specifying the regression Equation To assume the k is independent variable are possible relate to dependent variables. The model is following the equation. SPEit= ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²0+ ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²1INEit + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²2ABMit + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²3ACCit + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²4DRit +ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦. +ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²kxk+ ÃÆ'Ã… ½Ãƒâ€šÃ‚ µit Where, SPE = share price and earnings (measure of firm value and firm performance), = the intercept coefficient of the regression line on the Y (SPE) axis when X (Independent variables) axis is zero, = the regression coefficients or slope of the regression line (the increase in Y for a unit, increase in X), = the random error variable, INE = Number of Independent Non-Executive Directors. Calculate the total number of independent non- executive directors of the company; ABM = Attendance of Boards Meetings. Calculated by total attendance of boards meeting divided by total number of board meeting in a year; AAC = Attendance of Audit Committ ee. Calculated by total attendance of audit committee divided by total number of audit committee meetings in a year, DR = Directors Remuneration. Calculated by total directors remuneration divided by total independent non executive directors in a year. The measures of share price and earnings (SPE) are dependent variable, the INE are the number of independent non-executive directors; ABM is the attendance of board meetings; AAC are the attendance of audit committees and DR is the directors remunerations are independent variables. Even though all the companies are concern in the same period, time dummy variables will change over time. The above regression equations are using the Pooled Least Squares and standard errors are calculated using Whites correction for heteroscedasticity. 3.8 Statistical Test 3.8.1 Test of Statistical Significance Three formulate are use in the test of statistical, the coefficient of determination, t-testing, F-testing are concern in statistical analysis. The coefficient of determine are test of ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²1 address only the question of whether there is enough evidence to infer that a linear relationship exists. This is useful to measure the strength of that linear relationship that to compare several different model. However, the coefficient of determination adjusted that taken into account the series of independent variable and the sample size. To apply the simple linear regression by using the slope coefficient to examine that are sufficient evident exist to allow us to conclude that there was a linear relationship between the dependent and independent variables. The regression models are following below: H0: ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²1= ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²2 = ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²3 = ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦. ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²k = 0 H1: At least one ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²i is not equal to zero If the null hypothesis is true that none of the independent variables is linear and relate to dependent variables therefore we can examine that model is useless. However, if at least one independent variable is not equal to zero, the model also has some useful tools. The t-test of the individual coefficient allow us to determine whether ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²1 no equal to 0 (for i= 1,2,3,ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦,k) to notify us whether a linear relationship exist in dependent and independent variables. The t-test is test for each independent variable. It is compare a sample mean to an accepted value or compare two sample means. The F-test is to compare standard deviation or two variances. It is combining the series of t-test relationship bring into single test. The relationship between F-test and t- test can explain by mathematically. The R2 is calculated as the Regression Sum of Squares (RSS) divided by the Total Sum of Squares (TSS), or the square of R. The R can ta ke on a value from -1 to +1, which depends on whether the association between the two variables is positive or negative, thus the value of R2 can fall between 0 and 1. If the R2 is close to one indicates that the model fits the data very well. Conversely, R2 close to zero indicates the model is not very good. In this study, R2 is applied to test whether the four independent variables can explain the dependent variable of corporate governance. For instance, higher the value of R2, greater the variation of corporate governance, that could explain by the four variables. 3.9 Summary This chapter presents the research design for this study. It begins with the development of the theoretical framework from which two hypotheses were proposed to test the effects of the share price. It is proposed that corporate governance is directly related to share price. For companies with favorable information on their annual reports, this information can be communicated to potential investors to increase shareholders returns. The dependent and independent variables were specified and defined and a signaling model developed using multiple regression analysis. This was followed by a description of the sample size, data collection methods and statistical tests used in the study. The next chapter presents the statistical analysis of the two hypotheses developed, and provides a discussion and interpretation of the result. CHAPTER 4 EMPIRICAL RESULTS 4.1 Introduction The main objective of this study is to examine the accuracy of share price and earnings per share contained in the list of ACE Markets and also examine whether the accuracy of share price and earnings per share are influenced by four of the determinants. Thus, after the illustration of the research methods in previous chapter, this chapter will proceed to present the results in this study. It will first provide the descriptive statistics for results of dependent and independent variables. Thereafter, result for regression analysis is obtained to test the significance for four of the hypotheses generated. Lastly, an analysis of the regression results is then be discussed and explained.