Moral hazard
When implementing donation-based admission, market failure can occur because of asymmetric information. Universities can spend money earned through donation in an inefficient way because it is difficult for the government and people to know how the university spends contribution and it is hard to monitor university’s behavior. It is called moral hazard. “Moral hazard is a spec
law since the New Deal legislation of the 1930s. The act was a reaction to a number of major corporate and accounting scandals including those affecting Enron, Tyco International, Adelphia, Peregrine Systems and WorldCom. These scandals, which cost investors billions of dollars when the share prices of affected companies collapsed, shook public confidence in the nation's securities markets.
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1.1 introduction
On 2007, Korean Ministry of Justice notified that they will precede prior announcement of registration of prohibition on discrimination. This regulation is against of all discrimination without rational reason (Hankyung economic terminology dictionary, 2009). Due to consistent opposition of conservationists, especially many of Christians who made organized movements to make it l
tribes society developed trust relationship but hold each other in check. Tribes superiority depends on tribe's military power, credibility and honors. So tribe's honor was symbol of Superiority, the honor comes from individual morality in the tribes.
Members who damage the honor were punished by their tribes. So the tribes prevent from a war against other tribes and preserve their own honor.
Ⅰ. 개요
서구국가의 공공개혁이 과도한 복지비용지출로 인한 재정위기를 해소하기 위하여 정부축소를 통한 경비절감에 초점을 두었듯이, 국민의 정부도 경제위기 극복을 위한 효율성과 성과지향성 등 경제적 가치를 중시하는 개혁전략을 채택하였다. 사실 이와 같은 효율성과 성과지향성은 경제위