Police Jurisdiction Essay - 797 Words

History of Police Agencies and their Jurisdictions Chelsea Peterson CJA/240 December 10, 2011 Professor Konopasek History of Police Agencies and their Jurisdictions The development of police agencies can be followed back to the Early English colonial days. As time continued, so did the improvements of the police agencies of law enforcement today. The first police department was established in 1731 was the Boston Police Department. Within each police agency, they also have their own jurisdiction of federal level, state, local, and private levels. The biggest protector of America is the Department of Homeland Security that includes jurisdiction of the†¦show more content†¦Each jurisdiction can overlap with one another, differ in priorities, incompatible technologies, and turf issues can come into conflict (Schmalleger, 2009). State jurisdiction aids local and federal agencies in crime fighting, emergency responses, and investigation activities. State agencies include highway p atrol or state police. Local levels of law enforcement patrol the local areas within towns and cities to maintain order and investigate crimes. Local law enforcement includes campus police, constables, sheriff departments, etc. The federal jurisdiction is in charge of the entire nation. Federal level focuses more on drug and human trafficking, immigration, gun and drug smuggling, safety of transportation, or any issues that crosses state lines and boarders. Then we have Homeland Security that protects America from terrorist attacks. Federal agencies include the FBI, Department of Justice, Homeland Security, and other federal agencies. â€Å"The FBI has primary jurisdiction for all domestic counterterrorism investigations and intelligence operations, but the USA PATRIOT Act and other post-9/11 homeland security measures emphasize the need for sharing national security intelligence information among agencies at all levels as full partners (Schertzing, 2007, p.190)†. Homeland se curity began their operations of March 2003 with former Pennsylvania governor TomShow MoreRelatedTribal Criminal Jurisdiction 1124 Words   |  4 Pagesthe past. The Federal Government began intrude onto Indian Land. In 1817 the U.S passed the General Crimes Act1, whcih gave the Federal Government jurisdiction in Indian Country when a crime was commited if either the victim or derfendent was a non-Native. Then, in 1885, the U.S passed the Major Crimes Act2 which gave the Federal Government jurisdiction in Indian Country over major crimes, such as murder, when the defendent was a Native. The Major Crimes Act was enacted in 1885 as a response toRead More Courts Essay1059 Words   |  5 Pages The jurisdiction of the federal courts is defined in Article III, Section 2, of the Constitution, as extending in law and equity to all cases arising under the Constitution and federal legislation; to controversies to which the U.S. shall be a party, including those arising from treaties with other governments; to admiralty and maritime cases; to controversies between states; to controversies between a state, or its citizens, and foreign governments or their subjects; and to controversies betweenRead MoreLaw Enforcement History: Historical Development of Police Agencies and Their Jurisdictions1017 Words   |  4 PagesThe Historical Development of Police Agencies and Their Jurisdictions: An Analysis Man is cruel and competitive. For these reasons, man often times wrongs others in society. And for this reason, it is necessary to have a law enforcement agency, whether local, state-based, or federal. In the absence of the rule of law, society would not be able to function, and man must make a pact that, in order to live and be protected within society, he must obey these laws. Police agencies often times serve asRead MoreCase Analysis : Geico 1122 Words   |  5 PagesJacob Mathis, its registered agent for service of process at, 2001 Park Hill Drive, Fort Worth, Texas 76110. III. Jurisdiction and Venue 3.01 This Court has jurisdiction over the subject matter of this lawsuit because the amount in controversy complies with the minimum amount necessary to invoke the subject matter jurisdiction of this Court. This Court may exercise personal jurisdiction over each Defendant in that each Defendant either is a Texas corporation that conducts business in Texas, or is anRead MoreEssay about Magistrates Court Research Assignment1776 Words   |  8 PagesOutcome 3: Magistrates court research assignment 1. Define key legal terminology such as court hierarchy, jurisdiction court personnel Court hierarchy A court hierarchy is a structure or or order of rank of courts within a state or country. The court hierarchy allows each court to deal with specific types of cases according to the seriousness of the crime and the courts jurisdiction. Hence, courts dealing with more serious offences would be higher in the court hierarchy than the courts dealingRead MoreCourt Structure in Srilanka2485 Words   |  10 Pageswith primary jurisdiction; the respective legal domains of each are provided in the Code of Criminal Procedure.      The preponderant majority of criminal law cases are initiated at a Magistrate’s Court. These cases may be initiated by any police officer, or public servant, with a written or oral complaint to the magistrate (see section on Magistrate’s Court).   Murder trials and various offenses against the State originate in a High Court (see section on High Courts).    Original jurisdiction over mostRead MoreEssay on criminal procedure2488 Words   |  10 Pagesdecide on cases they wish to handle however they are limited to Jurisdiction. There are three types of jurisdictions and they are; Territorial jurisdiction, Local jurisdiction and power to try cases. 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The differences between goals and objectives Free Essays

Abstract When clearly defined, goals and objectives can be used as major management strategies which in turn lead to the success of an organization. It is important to note that the differences between goals and objectives have important practical meanings. Hence, this paper will briefly explain the differences between these two from the strategic management point of view. We will write a custom essay sample on The differences between goals and objectives or any similar topic only for you Order Now Differences between a goal and an objective Goals are extensive while objectives tend to be narrow. This means that having set important goals, one may move on to objectives as they are more of sub goals. In other words, achieving any set goal will require one to formulate a number of questions that will enable one reach their goals in any project. Therefore, these questions make up the objectives which are specific and narrow and which also act as a milestone that aids in achieving a set goal. Thus, goals can be differentiated from objectives as they have general intentions with objectives being more defined (Lewis, 1996). In addition, goals can also be differentiated from objectives as they are abstracts with objectives being more concrete. This means that goals are more of a summary with objectives bearing more details with regards to the abstracts. As well, the goals will only stipulate where one wants to be with objectives giving the steps needed to get there or actions that will enable one be where they want to be. In turn, from the strategic management point of view, goals end up indeterminate as their intentions cannot be measured with objectives being measurable (Lewis, 1996). Further more, a goal can be said to be intangible while objectives may be tangible. This means that a goal is something that may be directed towards achieving non measurable tasks with objectives directed towards achieving measurable things. Moreover, the two can also be differentiated as they take different time frames. For instance, goals tend to have longer time frames when compared to objectives. As well, since objectives are more precise and existing under a goal, they are mostly set to achieve certain targets with the time frame being short term (Lewis, 1996). How to cite The differences between goals and objectives, Papers

Financial Management Capital Asset Pricing Model

Question: Discuss about the Financial Managementfor Capital Asset Pricing Model. Answer: Introduction In financial management, one of the most significant components is managing the portfolio for investment purpose. However, the investors must require to have good knowledge for optimum investment that considers the factors of risk, return, nature and timing of investment. For this purpose, Capital Asset Pricing Model (CAPM) is the most common and essential model that is used to determine the expected return on investment. It represents the equation, which specifies market risk, government risk-free rate, market rate premium to generate the expected return for the investors (Barberis et al. 2015). The model reflects the expected rate of return by considering the essential elements of finance i.e. market risk, market premium and risk free rate of return. It is represented graphically by using Capital Market Line and Security Market Line to measure the relationship between risk and price of the securities. It is used for budgeting investment capital by the business organizations that de termine the expected return and thereby determine the net present value from the proposed investment (Almeida et al. 2016). Discussion Capital Asset Pricing Model (CAPM) is used to measure a required rate of return on acquisition of an asset that assists in making investment decisions for an optimum portfolio management. The model is used to determine the cost of equity by considering the risk factor called beta of the stock (de Azevedo et al. 2015). The model uses a formula to determine a linear relationship between the required or expected return on the investments and the potential systematic risk on the securities trading on the stock exchange market. The method is also used to measure the return and risk factor for the investments to be made in the business organizations. The risk and return of the investment is measured by using the CAPM formula E (ri) = Rf + (E (rm) Rf) where E (ri) represents required return on investment (i), Rf represents risk-free return, is the risk factor of the investment (i) and E (rm) represents the capital market return at an average rate (Jnior et al. 2016). The CAPM theory is based on certain assumptions indicated on investors requirements and expectations. First assumption of the theory is that the aim of all the investors is to maximize the economic values and therefore investment assets are fixed in nature and quantity. Second assumption of the theory is that all the investors are reluctant to take risk hence they hold diversified investments to minimize the systematic risk while the unsystematic risk has been ignored. Third assumption is based on the ability of the investors to influence the price of the assets. It means that the capital market is perfect and investors are not able to influence the price of the securities (Andonov, Eichholtz and Kok 2015). Further, the CAM model does not consider the factor of tax costs, transaction costs and all the securities are graphed on the same Security Market Line. It has also been assumed that there is equal amount of information available to the asset holders as well as they have equal exp ectations with respect to the returns on investment. For the purpose of portfolio investment CAPM model also assumes that the asset holders have the choice of borrowing and lending investing money at risk-free return (Novak 2015). The two significant components of the CAM model is Security Market Line and Capital Market Line that are represented on a graph to measure the factors involved in the investment. The Security Market Line (SML) represents the various level of market risk of financial assets or securities drawn against the market expected return at a point of time. It is also known as characteristic line which is disclosed by the terms of risk i.e. beta on the x-axis as well as the expected return on y-axis (Bhala, Yeh and Bhala 2016). On the other hand, Capital Market Line (CML) represents the expected return rates for the competent investments or securities subjected to the risk on market return and risk-free return. SML measures the expected market risk and return at a particular time while CML represents the relation between required return on risk free investments and the risk levels for a particular portfolio (Mao and Zhu 2015). The slope of Capital Market Line is measured by using the Sharpe Ratio which is stated as Expected return deducted by the risk-free rate of return whole divided by standard deviation. On the contrary, SML defines the function between expected return and market risk. For instance, real risk- free rate of a security is 6.00% and market risk premium i.e. (rm rf) is 5%, accordingly the SML will be represented as E (ri) = rf + (rm rf) i.e. E (ri) = 6 + 5. CAPM is one of the most celebrated models in financial management that assists the investors in managing the investment portfolio, analysis of equity stocks and capital budgeting. One of the essential advantages of CAPM model is the use of systematic risk that is the volatility of stocks on account of economy and effects all the securities in the same direction with unequal sensitivity (Uthman et al. 2015). Another advantage of using this model is derivation of relationship within the return on securities required by the investors and risk on securities as per market ignoring all other factors. Since the model considers the economic market risk therefore, it is advantageous to determine the equity cost using CAPM model. It also provides clear and unambiguous result on investment return, risk and cost of securities over other models of financial management (Kahn and Lemmon 2016). Besides, it is argued by many theorists that the CAPM model lacks the use of various important financial and investment elements that reflects several disadvantages of the model. The model considers risk free rate of return to measure the other variables of securities which is a yield on government bonds that are of short term period. Since the yield on securities change on daily basis concerning the risk and deviation, using the fixed rate of return would not determine the correct value of the equity cost, risk or expect return. Further, derivation of expected return on equity is difficult because the market return is a derivation from the average capital gain and dividend in the stock market that can be negative in the short term. It happens due to fall in price of securities and the expected return is not stable at a given point of time (Brown, Tian and Tucker 2015). Moreover, the model use the assumption of borrowing at risk- free rate which reveals unrealistic report because ind ividuals are not able to borrow at the risk free rate. Therefore, investors are bound to incur borrowing charges at higher rates that eventually lowers the expected return on investments. Considering the other assumptions, the CAPM ignores the tax costs, transaction costs and other relevant charges while determining the expected return of the securities. In the present market economy, taxation and other charges are the most significant charges that the investors are required to pay on their income (Bravo, Cacha and Quiones 2015). Hence, avoiding these charges and cost factors, correct results of the expected return, investment risks and cost is difficult to ascertain. Despite of several criticisms, CAPM is utilized in various financial decisions by the organizations as well as by the individual investors. One of the important corporate decision is capital budgeting that requires an optimum decision for proposed capital investment for the purpose of business expansion. For this purpose, CAPM determines the rate of return that companies expect from proposed investment. It is measured by computing beta i.e. potential risk from the equivalent trading firms. For instance, Beta of the similar form in the industry is = 1.6, rf= 6%, E (rm) = 14%, therefore hurdle rate E (r project) = 0.06 + 1.6 (0.14- 0.06) = 18.8%. Using the expected return derived by using the CAPM model, the company determines the Net Present Value of the project proposed to be invested for. The model also serves the purpose to equate the value of equity and analyze the securities investment by the companies (Thijssen and Delaney 2015). It is regulated for the specific project to esta blish fair reimburse for the investments that affects the monopoly business and companies that involves the annual profit factor risk factors. CAPM model is also used in the measurement of investment portfolio diversification that determines the risk in the investment, return to be earned from the investment in financial securities. Moreover, the model considers the systematic risk related to the market industry, which cannot be diversified by the investors. Since the market risk is unavoidable by the investing companies and individuals, the CAPM model does not consider unsystematic risk because it specific to the particular investment that can be avoided. Accordingly, investor companies or individuals use CAPM model to determine their expected return by considering the market risk and risk- free government bonds (de Castro Dias, da Cunha and da Silva 2016). In view of the Capital Asset Pricing Model (CAPM), it can be said that even though the model has several criticism, it is still the optimum model to measure the expected return rate and risk factor of the investors. It is recommended that the model can be used if the investors plan to invest in a specific investment securities to determine the potential return and risk elements. Further, if the investors are likely to invest for short- term period preferably one year, then the CAPM model is can be used to measure the expected rate of return with accuracy. Since the model prefers the borrowing amount at risk-free rate investors can avail government bonds for acquiring funds to invest in equity securities (Bhala, Yeh and Bhala 2016). In this situation, investors are also not liable for tax cost and other charges because the investment is for short- term period and does not involve transaction cost and other financial charges. Therefore, the investors are able to measure correct expecte d return on investments and capital budgeting purpose. The CAPM model uses the assumption to ascertain the rate of return in a market that is perfectly competitive, therefore in order to determine the expected return, investors are recommended to acquire securities from open market. Company investors and individual investors are recommended to invest through the securities from stock exchange market to avoid the differential risk elements. In order to avoid further risk and maximize the expected return on investments, investors may invest in diversified securities by creating optimum portfolio management. Such diversification would enable the investors to minimize the risk factor because the unsystematic risk i.e. securities risk varies from specific company to company. Conclusion It is concluded from the above discussion that CAPM reflects different approach to measure the elements of risk and return in an investment. It assists in determining the financial decision using capital budgeting, portfolio management and equity stock valuation. The model is used o determine the expected return of the investment by considering the elements of risk, market premium and government return rate. The model uses various assumptions that are criticized by theorists based on the borrowing or lending rates, period of investment, cost of investment etc., which does not provide the expected return based on the realistic picture. Corporate investors require to measure the rate of return, net benefit and loss as well as the potential risk from the proposed investment. Such measurement can be ascertained through CAPM model but it does not consider the tax cost and other transaction cost. As per the present scenario, taxation cost plays an important role for the investors income he nce; ignoring the taxation cost would not reflect the correct return. Besides, the model considers the entire market risk which is unavoidable and significant to evaluate the net income from investment. The model also considers the risk- free government bond rate while measuring the rate of return that are issued for short- term period. Therefore, it is the best model to be used for the specific investment in the short- term period since it considers the total market risk for investment companies and individuals. Reference List Almeida, G.L., Petralia, G., Ferro, M., Ribas, C.A.P.M., Detti, S., Jereczek-Fossa, B.A., Matei, D.V., Coman, I. and De Cobelli, O., 2016. 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EORTC Risk Model to Predict Progression in Patients With NonMuscle-Invasive Bladder Cancer: Is It Safe to Use in Clinical Practice?.Clinical genitourinary cancer,14(2), pp.176-182. Kahn, R.N. and Lemmon, M., 2016. The Asset Manager's Dilemma: How Smart Beta Is Disrupting the Investment Management Industry.Financial Analysts Journal,72(1), pp.15-20. Mao, S. and Zhu, T., 2015. The Technique and Management of Investment Control in Metro Engineering. InInformation Technology and Mechatronics Engineering Conference, China(pp. 207-211). Novak, J., 2015. Systematic Risk Changes, Negative Realized Excess Returns and Time-Varying CAPM Beta.Finance a Uver,65(2), p.167. Thijssen, J.J.J. and Delaney, L., 2015. The impact of voluntary disclosure on a firms investment policy.European Journal of Operational Research, pp.232-242. Uthman, O.A., Hartley, L., Rees, K., Taylor, F., Ebrahim, S. and Clarke, A., 2015. Multiple risk factor interventions for primary prevention of cardiovascular disease in lowà ¢Ã¢â€š ¬Ã‚ and middleà ¢Ã¢â€š ¬Ã‚ income countries.The Cochrane Library.