Corporate governance and firm performance

Corporate governance and firm performance Introduction Corporate governance is concerned with the process and structures through which members interested in the overall well being of the firm take measures to protect the interests of the stakeholders. (Ehikioya, 2009). Corporate governance generally refers to the external rules and regulations and internal system that are designed to minimize agency problem and is the system by which companies are directed and controlled (Cadbury 1992, Cited in Lam and Lee, 2008) Good Corporate governance is centered on the principles of accountability, transparency, fairness and responsibility in the management of the firm. (Ehikioya, 2009). Accountability comes from both within and outside the company. Responsible management works entirely in the interests of the owners. Board composition plays an important role in keeping the company transparent in its affairs. Board structure is important to keep the interests of management and owners aligned (Byrnes et 2003, cited in Ehikioya, 2009). The institution of corporate governance in a firm is an attempt to ensure the separation of ownership and control, and this often results in Principal-Agent problems (Byrnes et 2003, cited in Ehikioya, 2009). Managers always have incentives to misuse a firms assets by undertaking projects that benefit themselves more personally but its impact on shareholder wealth works adversely (Jensen and Meckling, 1976; Fama and Jensen, 1983; cited in Brown and Caylor, 2004) and same goes with (Shleifer and Vishny, 1997) Researchers have mixed opinion in Principal-Agent problem. According to (Jensen and Mecklings 1976 cited in Lia,Wang and Deng, 2009) managerial agency costs always increase with the separation of ownership and management. Managers, as the agents of shareholders, are inclined to waste the corporate resources to satisfy their exploitative purposes. In contrast, stewardship theorists counter-argue that managers are inherently trustworthy and are good stewards of company resource (Donaldson, 1990 cited in Lam and Lee, 2008). Central to the boards effectiveness is the question of board structure (size and independence). In addition to board size, board independence should also have an impact on firm value and performance. Inside directors provide firm and project specific knowledge that assists the board in understanding the detailed aspects of the firms business. In contrast, outside (or independent) directors contribute expertise and objectivity that ostensibly mitigates managerial entrenchment and expropriation of firm resources (Bhagat and Black, 2002). The governance literature generally suggests that as boards become increasingly independent of managers, their monitoring effectiveness increases thereby decreasing managerial opportunism and enhancing firm performance. (Harforda, Mansib, and Maxwellc, 2006). Gov-Score is used in different researches to assess the governance and firm performance has been used with 51 factors (Brown and Caylor, 2004) or less i.e. 37 (Nishat and Shaheeen, 2005). This paper will use the GOV-SCORE with 38 factors and including new factor i.e. more than one family member on board The paper proceeds as follows: Section II is the Literature review, Section III will discuss rationale of study, Section IV will include theoretical framework, Section V hypotheses development and theoretical background, Section VI data and methodology, Section VII sample, instrument and structure of instrument, Section VIII Work cited and then Appendix. Literature Review: Corporate governance is the process and structure through which a firms business and affairs are managed by enhancing business prosperity and corporate accountability with the ultimate objective of enhancing shareholders wealth (Mir and Nishat, 2004). A well defined and functioning corporate system helps a firm to attract investment, raise funds, and strengthen the foundation for firm performance and good corporate governance shields a firm from vulnerability to future financial distress (Ehikioya, 2009). Effective corporate governance minimizes control rights of stockholders and their creditors to give on managers and increasing the probability that managers should invest in positive net present value projects for the firm gain (Shleifer and Vishny, 1997). Prior studies have predominantly focused on US companies, while those are related to Asian countries are rather few (Kiel and Nicholson, 2003 Cited in Lam and Lee, 2008). The notion that corporate governance affects positively corporate performance is based on the fact that management in shareholder-friendly firms, in making corporate decisions, do what shareholders themselves would have done, had they been in charge of corporate decisions ( Kanellos and George, 2007). It was found (Ehikioya, 2009) that where the CEO also acted as chairperson and more than one family member had a place on the board of directors this had an adverse effect on firm performance. Corporations can be said like a republic. The major and highest level of authority is stockholder (Owners). These voters have the right to vote and elect their representatives which serve as directors, who delegate their most of their power to bureaucrats (managers). As in any form of government (republic), the real power-sharing depends upon the set of rules called governance. On one extreme, which is inclined toward a democracy, have little power for management and enable stockholders to immediately and easily replace directors of the company. On the other hand, it is vice versa to the democracy (Gomper, Ishii, Metrick, 2003). CEO duality is another concern in corporate governance. In USA 70-80% of them combined the roles of CEO and Chairperson. (Rechner and Dalton, 1991; Rhoades et al, 2001, Cited in Lam and Lee, 2008). However the prevalent corporate governance practice in Europe separates the CEO and chairperson (Coles et al 2001; Higgs, 2003; Zardkhoohi, 2005, Cited in Lam and Lee, 2008). This Duality position places CEO in powerful position of managing the operations of the firm and also overseeing the direction the firm will take into the future (Petra and Dorata, 2008). It is often alleged that boards of directors are more independent as the proportion of their outside director increases (Jhon and Senbet 1998, Cited in Brown and Caylor, 2004). Strong positive relationship between the portion of independent directors on the board and profitability ratios in continental Europe countries (Krivogorsky 2006, Cited in Li, Wand and Deng, 2008). A higher proportion of the independent directors may lead to lower probability of financial distress (Li, Wang, Deng, 2008). However, there is no relation between the proportion of outsider directors and various performance measures (i.e., SGA expenses, sales, number of employees, and return on equity) (Fosberg 1989, Cited in BRown and Caylor, 2004). and (Bhagat and Black, 2002) find no linkage between the proportion of outside director and Tobins Q, ROE, asset turnover and stock returns. Thus the relationship between the proportion of outside directors, a proxy for board independence, and firm performance is mixed (Brown and Caylor, 2004). Researchers (Gomper, Ishii, Metrick, 2003) and (Bebchuk, Cohen, Ferrell, 2004) showed in their studies that with stronger stockholder rights have higher Tobins Q, their proxy for firm value, suggesting that better-governed firms are more valuable our second measure of firm performance. Most of the empirical work for exploring possible relationship between corporate governance and firm performance is done for single jurisdiction. For US Firms a broad measure of Corporate Governance Gov-Score is prepared by (Brown and Caylor, 2004)with 51 factors, 8 sub categories for 2327 firms based on dataset of Institutional Shareholder Service (ISS). Their findings indicate that better governed firms are relatively more profitable, more valuable and pay more cash to their shareholders. (Gomper, Ishii, Metrick, 2003) Earlier (Mir and Nishat, 2004) empirically tested the relationship between the structure of corporate governance and firm performance in Pakistan, and (Nishat and Shaheeen, 2005). Mir and Nishats study included a different set of performance parameters which include ROE, net profit margin, sales growth, Tobins Q and dividend yield. Moreover (Mir and Nishat, 2004) used secondary data from the annual statements. While (Nishat and Shaheeen, 2005) study was based on secondary as well as on primary survey of different companies listed with Karachi Stock Exchange (KSE). This study is different to (Nishat and Shaheeen, 2005) as it extends the GOV-Score factor to 38 by adding the More than family members on the board to (Nishat and Shaheeen, 2005)s study which was 37 factors. Rationale: As the global debate on corporate governance heats, the importance of this topic to any country-particularly any developing country-cannot be ignored. Being one of the important countries of South Asia, with immense trading potential and ideal geopolitical location, Pakistan has proactively pursued various policy reforms to stimulate its economic activity, in recent years (Mehwish Mumtaz, 2005). Pakistan stock market is one of the leading emerging markets in the world. It has gone through series of reforms and structural changes since 1991 (Nishat and Shaheeen, 2005). Financial reforms during 1990s have influenced the pattern of capital structure, dividend policy and compliances to corporate governance (Nishat, 1999 Cited in Nishat and Shaheen, 2005). Better Corporate Governance is supposed to lead to better corporate performance by preventing expropriation of controlling shareholder and ensuring better decision-making (Nishat and Shaheeen, 2005), (Shleifer and Vishny, 1997). Most of the research in the area of corporate governance is done for developed economies, as rich data is only available for these economies where active market for corporate control exists and the ownership concentration is low (Bohren and Odegaard 2001, Cited in Shaheen and Nishat, 2005). This study will fill the gap by analyzing the relationship between corporate governance and firm performance for the firms as previous studies lack a factor in GOV-SCORE i.e. more than one family member on board while measuring level of governance. As this variable was found very first time by Benjamin Ehikioya as in his study (Ehikioya, 2009). Theoretical Framework: Hypotheses and Theoretical Background: According to above mentioned literature following hypotheses are formed. H1: Better-governed firms have better operating performance Better and effective corporate governance minimizes the control rights of both stockholders and creditors confer on managers which increases the probability that managers will invest in positive NPV projects (Shleifer and Vishny, 1997) leading it to better operating performance, which is our first proxy to firm performance H2: Better-governed firms are more valuable (Gomper, Ishii, Metrick, 2003) and (Bebchuk, Cohen, Ferrell, 2004) show that firms with stronger stockholder rights have higher Tobins Q which is the proxy of firm value and suggest that better governed firms are more valuable which is second proxy for firm performance. H3: Better-governed firms pay more cash to stockholders Firms with smaller dividend payout have low earning growth, suggesting that better-governed firms payout more cash to stockholders, which our third proxy to firm performance (Arnott and Asness 2003, Cited in Nishat and Shaheen, 2005). Data and Methodology: Gov-Score will be used to measure the strength of a firm governance on the patterns of (Brown and Caylor, 2004), (Nishat and Shaheeen, 2005) and (Y Attiya and R Iqbal, 2007). Computation of Gov-Score for 20 firms using data obtained from annual reports. The primary data will be collected through questionnaire containing 38 factors as either 0 ot 1depending on whether the firms governance standards. Then sum of each 38 binary variables to derive GOV-Score. This paper consider four performance measures spread across three categories: operating performance, valuation and shareholder payout. This paper selects two operating measures i.e. ROE and profit margin. One valuation measure i..e. Tobins Q and single measure of stockholder payout i.e. dividend yield. This paper adopts methodology used by (Nishat and Shaheeen, 2005) which involves two types of cross-sectional analyses. Firstly, correlation between Gov- Score with each industry-adjusted fundamental variable using Pearson and Spearman correlations. Then order Gov-Scores from highest to lowest (i.e., from best to worst governance), and analyze if firm performance differs in the extreme governance deciles. Next to assess which categories and factors are associated with expected/unexpected (good/bad) performance, we correlate the four performance measures with seven governance categories and 38 governance factors. Sample and Instrument: The sample size will be 20 firms listed in Karachi Sock Exchange. Convenience sampling technique will be used. A structured questionnaire will used containing 38 factors of governance spread across seven categories Works Cited Kanellos and George. (2007). Corporate Governance and Firm Performance: Results from Greek Firms. Arnott and Asness 2003, Cited in Nishat and Shaheen. (2005). Corpoirate Governance and firm performance AN exploratory Analysis. Bebchuk, Cohen, Ferrell. (2004). What matters in Corporate Governance. Bhagat and Black. (2002). The Non-orrelation Between Board Independence and Long Term Firm Performance. Journal of Corporation Law , 231-274. Bohren and Odegaard 2001, Cited in Shaheen and Nishat. (2005). Corpoirate Governance and firm performance AN exploratory Analysis. Brown and Caylor. (2004). Corporate Governance and Firm Performance. Byrnes et 2003, cited in Ehikioya. (2009). Corporate governace structure and firm performance in developing economies: evidence from nigeria. Cadbury 1992, Cited in Lee, Tin Yan Lam and Shu Kam. (2008). Chief executive officer duality and firm performance: Hong Kong. Corporate Governnace , 299-315. Coles et al 2001; Higgs, 2003; Zardkhoohi, 2005, Cited in Lam and Lee. (2008). Chief executive officer duality and firm performance: Hong Kong. Corporate Governnace , 299-315. Donaldson, 1990 cited in Lam and Lee. (2008). Chief executive officer duality and firm performance: Hong Kong. Corporate Governnace , 299-315. Ehikioya, B. I. (2009). Corporate governace structure and firm performance in developing economies: evidence from nigeria. Corporate Governance Vol. 9 No. 3 , 231-243. Fosberg 1989, Cited in BRown and Caylor. (2004). Corporate Governance and Firm Performance. Gomper, Ishii, Metrick. (2003). CORPORATE GOVERNANCE AND EQUITY PRICES. Harforda, Mansib, and Maxwellc. (2006). Corporate Governance and Firm Cash Holdings. Jensen and Meckling, 1976; Fama and Jensen, 1983; cited in Brown and Caylor. (2004). Corporate Governance. Jensen and Mecklings 1976 cited in Lia,Wang and Deng. (2009). Iindependent directors, Ownership agency costs and financial distress: evidence from chinese companiess. Corporate governance , 622-636. Jhon and Senbet 1998, Cited in Brown and Caylor. (2004). Corporate Governance and Firm Performance. Kiel and Nicholson, 2003 Cited in Lam and Lee. (2008). Chief executive officer duality and firm performance: Hong Kong. Corporate Governnace , 299-315. Krivogorsky 2006, Cited in Li, Wand and Deng. (2008). Iindependent directors, Ownership agency costs and financial distress: evidence from chinese companiess Mehwish Mumtaz. (2005). Corporate GovernanceAdopt or Adapt. Dissertation, Judge institute of Management Sciences, University of Cambridge Research. Mir and Nishat. (2004). CORPORATE GOVERNANCE STRUCTURE AND FIRM PERFORMANCE IN PAKISTAN- AN EMPIRICAL STUDY. Nishat and Shaheeen. (2005). Corpoirate Governance and firm performance AN exploratory Analysis. Nishat, 1999 Cited in Nishat and Shaheen. (2005). Corpoirate Governance and firm performance AN exploratory Analysis. Petra and Dorata. (2008). Corporate Governance CEO compensation. Corporate Governance , 141-152. Rechner and Dalton, 1991; Rhoades et al, 2001, Cited in Lam and Lee. (2008). Chief executive officer duality and firm performance: Hong Kong. Corporate Governnace , 299-315. Shleifer and Vishny. (1997). Asurvey of Corporate Governance. NBER Working Paper 5554. Y Attiya and R Iqbal. (2007). Relationship between corporate governance and its Indicators and firm value: A case study of KSE

A Raisin in the Sun What’s Up With the Epigraph? Essay

What happens to a dream deferred? Does it dry up like a raisin in the sun? Or fester like a sore and then run? Does it stink like rotten meat? Or crust and sugar over like a syrupy sweet? Maybe it just sags like a heavy load. Or does it explode? Harlem by Langston Hughes. Lorraine Hansberry, playwright, author, and activist seemed to have gotten inspired by Hughes poem as well as her own life experiences and decided to write A Raisin in the Sun. A Raisin in the Sun is a play about an African American family living on the South Side of Chicago during the 1950s. In the play, Lorraine essentially focuses on the dreams of the characters and the obstacles in their life they try to overcome to fulfill them. Each member of the Youngster’s family has a dream he or her wants to accomplish. Lena Younger (Mama) has always dreamt of moving her family into a nice neighborhood with a big backyard so her children can play and she can attend to her garden. Mama is a strongly religious woman who takes care of her family like a mother should. She wants the best for them, Mama’s dream was not a dream she wanted for her family it was also what she and hate husband Big Walter always wanted. Big Walter worked extremely hard to provide and support for his family. So hard it resulted in his death as Mama says â€Å"he finally worked his self to death†. Since Big Walter’s passing Mama has received a life insurance check for ten thousand dollars. Taking to opportunity so that she can fulfill both her and Big Walter’s dream Mama decides to use that money to buy a house in an all-white neighborhood. Big Walter’s life insurance check cause a conflict within the family Ruth Younger dream is quite similar to Mamas. She wants to build a happy family for herself and believes getting away from their cramped apartment will do so. Ruth works very hard to take care of her family but with being overworked, financial problems, a downfall in her relationship with her husband, and an unexpected pregnancy Ruth can’t seem to find any sort of happiness in her life. That’s why she feels a new beginning will change all that. Beneatha Younger dream is to go to medical school to become a doctor. Beneatha is a better educated than the rest of her family and is determined to use her knowledge to make a difference. Throughout the play, it seems as though Beneatha is struggling to find herself. With the changes in hobbies such as horseback riding and playing the guitar also she’s struck an interest in learning more about her African heritage. She is determined to be more than the others around her. Living in a time where women jobs are mostly cooking, cleaning. Walter Lee Jr. the dream is to invest in a liquor store so that he’s able to provide for his family. Walter is not so happy with his dead-end job as a chauffeur and feels this investment will help him make his own money so he can become his own man. Everyone tries to warn Walter that investing into a liquor store is not such a bright idea Throughout the play, A Raisin on Sun

Eco 365 week syllabus Essay

Details Due Points Objectives 1.1 Differentiate between macroeconomics and microeconomics. 1.2 Analyze the effect of changes in supply and demand on the equilibrium price and quantity. 1.3 Determine how elasticities affect pricing and purchasing decisions. Reading Read Ch. 1, 4, 5, 6, 7 of Economics. Reading Read this week’s Electronic Reserve Readings. Participation Participate in class discussion. Continual 3 Discussion Questions Respond to weekly discussion questions. By Friday Sept 13 2 Nongraded Activities and Preparation Article Analysis Research the University Library and Internet, and select a recent news article concerning trends in consumption patterns of a specific product, such as gasoline, oil, grain, or coffee. The following article which is located in the Electronic Reserve Readings on the student website is an example of trends in consumption patterns: Note. Do not use this article for your assignment. Hauser, C. (2011, August 24). Sales of new homes fell again in July. The New York Times. p. 6. Retrieved from EBSCOhost. Write a 700 – 1,050-word paper in which you do the following: Analyze the basis for the trends in consumption patterns, as discussed in the article you selected. Consider the utility derived from a product or service mentioned in the article. Describe what has occurred to change the demand for the product or service and its market and equilibrium prices. Assume that supply remains the same. Describe what has occurred to change the supply of the product or service and its market and equilibrium prices. Assume that demand remains the same. In your opinion, is demand for this product or service price elastic or inelastic? What does this imply about how consumers respond to changes in the price of this product or service? Support your determination of the price elasticity of demand with a reference. Format your paper consistent with APA guidelines. This is not mandatory and is not turned in or graded. Week Two: Production and Cost Analysis Details Due Points Objectives 1 2 2.1 Describe the relationship between the number of inputs and the law of diminishing marginal productivity. 2.2 Analyze the relationship between productivity and the cost of production. 2.3 Analyze the effect of changes in the supply of and demand for factors of production on the price of inputs. 2.4 Analyze the effect of changes in marginal revenues and costs on a firm’s profit-making potential. Reading Read Ch. 12, 13, 19, 19w and 20 of Economics. Participation Participate in class discussion. Continual 3 Discussion Questions Respond to weekly discussion questions. By Friday Sept 20 2 Individual Supply and Demand Simulation Complete the Supply and Demand Simulation located on the student website. Write 750 – 1,050-word paper of no more than summarizing the content. Address the following: Identify two microeconomics and two macroeconomics principles or concepts from the simulation. Explain why you have categorized these principles or concepts as macroeconomic or microeconomic. Identify at least one shift of the supply curve and one shift of the demand curve in the simulation. What causes the shifts? For each shift, analyze how it would affect the equilibrium price, quantity, and decision making. How may you apply what you learned about supply and demand from the simulation to your workplace or your understanding of a real-world product with which you are familiar? How do the concepts of microeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity? How do the concepts of macroeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity? Relating to the simulation, explain how the price elasticity of demand affects a consumer’s purchasing and the firm’s pricing strategy. Format your paper consistent with APA guidelines. Monday Sept 23 15 Learning Team Reflection Production and Cost Analysis Discuss this week’s objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field. Prepare a 350- to 1,050- word paper detailing the findings of your discussion. Monday Sept 23 2 Week Three: Market Structure Details Due Points Objectives 2 3 3 3.1 Compare various market structures and their characteristics. 3.2 Evaluate the effectiveness of competitive strategies within market structures. 3.3 Determine profit-maximizing strategies based on market structure analysis. Reading Read Ch. 3, 14, 15 and 16 of Economics. Participation Participate in class discussion. Continual 3 Discussion Questions Respond to weekly discussion questions. By Friday Sept 27 2 Learning Team Current Market Conditions Competitive Analysis Imagine you are part of a strategic planning group at a large corporation that is considering developing a new proposed product. The marketing director has asked your team to do a competitive market analysis to determine the product’s potential success. The analysis will focus on your primary competitor in the product’s market. Select a potential competitive organization and a product in that organization. Write a 1,400 – 1,750-word paper of no more than analyzing the current market conditions. Address the following topics: A short history of the organization and a description of their product Factors that affect demand, supply, and equilibrium prices in the market in which the competitor organization operates: Define the market for your chosen product, including an analysis of its competitors, potential customers, or potential buyers. Any issues or opportunities your organization or industry faces that affect its competitiveness and long-term profitability with regards to your product: This may include, but is not limited, to the following elements. Price elasticity of demand Technological innovation The relationship between the amount of labor & capital employed and the law of diminishing marginal productivity Cost structure Factors affecting variable costs, including productivity and others that change the supply of and demand for labor Factors affecting fixed costs Make recommendations on how your organization can maximize their profit-making potential, and successfully compete in the new market. Consider the effect your recommendations may have on marginal revenues and costs. Format your paper consistent with APA guidelines. Monday Sept 30 12 Learning Team Reflection Market Structure Discuss this week’s objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field. Prepare a 350- to 1,050- word paper detailing the findings of your discussion. Monday Sept 30 2 Week Four: Public Policy in Economics Details Due Points Objectives 4 4 4.1 Analyze the effect of externalities on market outcomes. 4.2 Differentiate among horizontal, vertical, and conglomerate mergers. 4.3 Analyze the effect of government interventions, taxation, and regulations on economic behavior. Reading Read Ch. 8, 18, 21 and 21w of Economics. Participation Participate in class discussion. Continual 3 Discussion Questions Respond to weekly discussion questions. By Friday October 4 2 Individual Differentiating Between Market Structures For this assignment, you will choose from the following options: Differentiating Between Market Structures in an Organization of Your Choice Read the instructions in the University of Phoenix Material: Differentiating Between Market Structures located on the student website. You also need to complete the Market structures table for each of the different markets. Monday October 7 15 Learning Team Reflection Public Policy in Economics Discuss this week’s objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field. Prepare a 350- to 1,050- word paper detailing the findings of your discussion. Monday October 7 2 Week Five: Global Competition Details Due Points Objectives 5 5 5.1 Determine the effect of global competition on an organization’s strategies for maximizing profits. 5.2 Analyze the effect of global competition on the relationship between management and labor. Reading Read Ch. 2 of Economics. Reading Read Ch. 9, 17, 22 and 23 of Economics. Participation Participate in class discussion. Discussion Questions Respond to weekly discussion questions. Individual Final Examination Resource: Economics Click the link to the Final Examination on the student website available from the end of Week Four through the end of Week Five. Complete the Final Examination. You have one attempt to complete the exam, which is timed and must be completed in 3 hours. Results are auto-graded and sent to your instructor. Monday Oct 14 15 Learning Team Competitive Strategies and Government Policies Management has recognized the effect of changes in the real-world competitive environment and government policies on other industries and anticipates similar events occurring in their industry, so they ask you for a report considering the following points. Write 1,400 – 1,750-word paper in which you describe how each of the following are or potentially will affect your industry or one with which you are familiar: New companies entering the market, mergers, and globalization, on pricing and the sustainability of profits: Identify the type of merger activity in your industry or one with which you are familiar–horizontal, vertical, or conglomerate–and explain why you made that choice. Current and expected government policies and regulations, including taxes and regulations in place to address issues related to externalities Global competition on the decisions made by management with regards to change in labor demand, supply, relations, unions, and rules and regulations in your chosen industry Recommend how the industry you chose may respond to each of the previous points. Format your paper consistent with APA guidelines. Monday Oct 14 15 Learning Team Reflection Global Competition Discuss this week’s objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field. Prepare a 350- to 1,050- word paper detailing the findings of your discussion. Monday Oct 14 2 Copyright University of Phoenix ® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft ®, Windows ®, and Windows NT ® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Edited in accordance with University of Phoenix ® editorial standards and practices.

Essay on The Influence of Violence in Sports - 1553 Words

The Influence of Violence in Sports Sports are an important part of our world. Take a look at any newspaper, listen to any radio, or watch TV for any length of time and there will surely be some sports information that is being passed along. The fact that sports figures get paid salaries that teachers can only dream about lets us know where our priorities lie in this society. Sports consume a lot of our time and energy, and because of this, they have great influence in our culture. Because sports news and sports figures are constantly in the news, sports reflect our values. We are living in a society that is filled with violence. Many adults choose to solve their problems in violent ways. When the stress of life becomes too much, or†¦show more content†¦Playing fair does is nice but it does not sell tickets. Note the popularity of a Dennis Rodman during his heyday as a player for the Chicago Bulls. At one point he physically hurt a cameraman. Dennis was given a slap on the hand, a fine and some suspended days , but he was not permanently expelled from the game. Hockey is another sport that is well known for the violence of its players. Fans revel in the violence of the sport. Players are specifically hired to act as goons or enforcers. Players who commit a violent act have to sit in a penalty box, but the cheers and enthusiasm of fans upon witnessing the violent plans ensure that such plays are destined to be repeated. Having gone through both elementary and middle school, we have all run into peers who spent a lot of time and energy trying to act like the most popular athlete in any given time period. Kids often try to imitate controversial athletes to bring attention to themselves. Such behavior can bring popularity to a young person. A sad outcome of violence in adult sports is that youth sports end up mirroring adult sports. 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