Hydrochloric acid and calcium carbonate Essay Example for Free

Hydrochloric acid and calcium carbonate Essay Resistance is measured in ohms. A light bulb has resistance. The filament resists the flow of electricity, and glows white hot in doing so. The resistance causes the bulb to only allow a portion of the current available in the wall socket, to flow out. A 100-watt light bulb uses more electricity from the wall than a 60-watt light bulb because the filament in a 100-watt bulb has less resistance to it. This lower resistance allows more current to flow through the bulb, consuming more power, producing more work and making more light. This work, by the way, is called Wattage. If you multiply the voltage times the current answer is in watts. Prediction for length I predict that when the length of the conductor, in this case constantan, is increased, the electrical resistance will subsequently increase. This means that the resistance is directly proportional to the length. For example, when the length is doubled, the resistance is doubled, and when the length is tripled, the resistance is tripled. Therefore, by taking 3 lengths of 10cm wire and putting them in series, one by one, the resistance of the circuit should, at first, double, and then triple. Total Resistance = Resistance1 + Resistance2 + Resistance3 Total Resistance = 3 x Resistance This shows that the resistance is directly proportional to the length. This may happen because; a conductor is made up of a lattice of atoms surrounded by a sea of free electrons (found in the outer shell of the constantan atoms. ) The free electrons jump from atom to atom and form the net flow of electrons around a circuit. Before a power supply is switched on, the free electrons are simply bouncing around inside the conductor. However, once the power supply is switched on, the free electrons are pulled through the circuit towards the positive terminal, and pushed away from the negative terminal, therefore creating the net flow of electrons. This ensures that there is always the same amount of electrons in the conductor, in this case constantan, at any given time. However, constantan is made up of atoms, which are very tightly packed together, only moving in tiny vibrations. To flow around the circuit, the electrons must use a lot of energy to get through these atoms. They crash and collide into the atoms causing them to vibrate a lot more rapidly and vigorously. This vibrating causes a change in energy from kinetic energy to heat energy, or friction. As the atoms movement increases and the metal becomes hotter, the electrons find it harder to flow. The friction is the cause of the resistance in the circuit. Therefore, using this theory, by increasing the length of the constantan, the resistance should increase, as more collisions of the electrons and the atoms will take place. Equation Electric energy Kinetic energy Heat energy Prediction for Thickness Electricity in a wire is due to the flow of free electrons. The more of these that flow every second, then the greater the current. A resistance controls the current. The bigger the resistance then the smaller the current. In a previous experiment that I did, I found out that when two 10 ohme resistors are put parallel then the resistance is halved, this is because the resistance is inversely proportional to the thickness. I am basing my prediction on an analogy that I have been told. If you were at a football game and you were queuing up to get in at the turnstiles and there was only one turnstile open. It would take a long time to get through, but if you were to open another turnstile then it would take half the time to get in because some of the people have moved to the other turnstile. Picture of turnstiles So I am going to predict that when the thickness is increased then the resistance is halved. Fair Test To make this experiment a fair test, I did the following;   Made sure the circuit was in proper working order by putting a resistor in the circuit that I new the resistance of. I made sure the wire was cut exactly to the length required. I used the same wire, Constantan.   I changed the power, so I could take two readings in order to take an average. Results Length(cm) V1(volts) A1(amps) V1/A1(ohms) V2(volts) A2(amps) V2/A2(ohms) Average V/A(Ohms Length(cm) 170 150 130 110 90 70 50 30 Average V/A 37. 25 31. 405 27. 73 24. 98 19. 98 15. 53 11. 7 7. 29 Thickness(mm) V1(volts) A1(amps) V1/A1(ohms) V2(volts) A2(amps) V2/A2(ohms) Average V/A(Ohms 0Thickness(mm). 1/Thickness 5Conclusion for Length In the experiment for length, How does the Length of a wire affect the resistance, I found that my results show that the longer the wire is in length then the higher the resistance. Length graph Conclusion from Graph In my prediction, I stated that:   When the length of the conductor was increased, the electrical resistance will increase. The resistance was directly proportional to the length e. g. When the length is doubled, the resistance is doubled, and when the length is tripled, the resistance is tripled. These points are proven by this graph because it is a straight line which means that the resistance is directly proportional to length. Conclusion for Thickness In the experiment How does the thickness of a wire affect the resistance of a wire, I found that my results showed me that the resistance is affected by the thickness of a wire, when the wire has a bigger diameter then the resistance is much lower. Thickness graph Conclusion from Graph There was an unexpected result on this graph. I expected it to be a straight line so that the resistance was directly proportional to one divided by thickness. But as you can see it has come out as a curved line. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Electricity and Magnetism section.

Wall Street Crash of October 1929 Essay -- Great Depression Economics

Wall Street Crash of October 1929 The roaring twenties saw a great deal of prosperity in the United States economy. Everything seemed to be going well as stock prices continued to rise at incredible rates and everyone in the market was becoming rich. Two new industries: the automotive industry, and the radio industry were the driving forces of this economic boom. These industries were helping to create a new type of market that no one had ever seen in history. With the market continuously increasing and with no foreseeable end, many individuals were entering the market because they saw the market as a sure fire way to get rich quickly. The rising prices of stocks and the large increases in trading created the speculative market that would eventually crash. On Monday, October 28, 1929, New York seemed to be the primary focus of the entire world. During that week in October, the bottom of the New York stock market fell out, an event that would lead the world into the greatest depression it has ever seen to date . Many individuals including those in the Federal Reserve Board saw the crash as a healthy thing that would bring all speculative trading to an end, and bring stock prices down to â€Å"realistic† levels. Following the crash the Fed followed a contractionary policy, which does not encourage expansion. Although that type of policy did need to be implemented prior to the crash, the decision to implement contractionary policy after the crash at best can be considered a questionable decision. The unstable financial situation of the United States that lead to the great crash can be attributed to the lack of leadership and action of the Federal Reserve in the financial world during the roaring twenties. After the end... ...31 Oct. 1929 9. â€Å"Stocks Up Again on Flood of Buying; Discount Rate Cut Here and in London; Back to Normal, Reserve Board Finds.† The New York Times 1 Nov. 1929 10. â€Å"Brokers See End of Stock Hysteria.† The New York Times 1 Nov. 1929 11. Herbert Hoover, The Memoirs of Herbert Hoover (New York: Macmillan, 1952) 12. L. V. Chandler, Benjamin Strong, Central Banker (Washington DC: Brookings Institute, 1958) 13. â€Å"Behind the scenes with the Federal Reserve Board,† World’s Work (June 1929) 14. Excerpts from the Hamlin Diary - http://memory.loc.gov/cgi-bin/ampage?collId=amrlm&fileName=mn02page.db&recNum=0&itemLink=r?ammem/cool:@field(DOCID+@lit(mn023))%23mn02003&linkText=1 15. Appendix 1: can be found at www.duke.edu/~wem3/ click on work stuff then under HST104 16. Appendix 2: can be found at www.duke.edu/~wem3/ click on work stuff then under HST104 Wall Street Crash of October 1929 Essay -- Great Depression Economics Wall Street Crash of October 1929 The roaring twenties saw a great deal of prosperity in the United States economy. Everything seemed to be going well as stock prices continued to rise at incredible rates and everyone in the market was becoming rich. Two new industries: the automotive industry, and the radio industry were the driving forces of this economic boom. These industries were helping to create a new type of market that no one had ever seen in history. With the market continuously increasing and with no foreseeable end, many individuals were entering the market because they saw the market as a sure fire way to get rich quickly. The rising prices of stocks and the large increases in trading created the speculative market that would eventually crash. On Monday, October 28, 1929, New York seemed to be the primary focus of the entire world. During that week in October, the bottom of the New York stock market fell out, an event that would lead the world into the greatest depression it has ever seen to date . Many individuals including those in the Federal Reserve Board saw the crash as a healthy thing that would bring all speculative trading to an end, and bring stock prices down to â€Å"realistic† levels. Following the crash the Fed followed a contractionary policy, which does not encourage expansion. Although that type of policy did need to be implemented prior to the crash, the decision to implement contractionary policy after the crash at best can be considered a questionable decision. The unstable financial situation of the United States that lead to the great crash can be attributed to the lack of leadership and action of the Federal Reserve in the financial world during the roaring twenties. After the end... ...31 Oct. 1929 9. â€Å"Stocks Up Again on Flood of Buying; Discount Rate Cut Here and in London; Back to Normal, Reserve Board Finds.† The New York Times 1 Nov. 1929 10. â€Å"Brokers See End of Stock Hysteria.† The New York Times 1 Nov. 1929 11. Herbert Hoover, The Memoirs of Herbert Hoover (New York: Macmillan, 1952) 12. L. V. Chandler, Benjamin Strong, Central Banker (Washington DC: Brookings Institute, 1958) 13. â€Å"Behind the scenes with the Federal Reserve Board,† World’s Work (June 1929) 14. Excerpts from the Hamlin Diary - http://memory.loc.gov/cgi-bin/ampage?collId=amrlm&fileName=mn02page.db&recNum=0&itemLink=r?ammem/cool:@field(DOCID+@lit(mn023))%23mn02003&linkText=1 15. Appendix 1: can be found at www.duke.edu/~wem3/ click on work stuff then under HST104 16. Appendix 2: can be found at www.duke.edu/~wem3/ click on work stuff then under HST104

Business Task 2 on reflection Essay

                 UAE otherwise known as United Arab Emirates is amalgamation of 7 Emirates namely Umm Al, Quwain, Ras Al Khaimah, Ajman, Sharjah, Dubai, Abu Dhabi, and Fujairah. UAE is the second biggest Arabian Middle East economy. The United Arab Emirates is the number 3 biggest in this region in crude oil exporting, following Iran and Saudi Arabia. It possesses the number 6 biggest recognized conservative crude oil reverse and the 5th biggest natural gas reserves. The swift growth in demand of water and electricity has generated the necessity to appraise unconventional power generation sources. In the year 2008, the United Arabs Emirates produced energy white paper on study of energy that confirmed that nuclear power to be environmentally friendly and safe alternative which would increment the prevailing plants of power in accomplishing increasing energy requirements. 2.1 Objective of this study accomplishment                The objective of this study of examining whether ownership structure matters for the performance of firms in United Arabs Emirates was achieved. Empirical evidence suggests that privately held firms tend to be more efficient and more profitable than publicly held firms. This shows that ownership structure matters. The question now is how does it affect firm performance? This question is very important because it is based on a research agenda that has been strongly promoted by La Porta et al. (1998; 1999; 2000). According to these studies, failure of the legislative framework to provide sufficient protection for external investors, entrepreneurs and founding investors of a company tend will maintain large positions in their firms thus resulting in a concentrated ownership structure.                  This paper aimed at looking at whether ownership structure has an impact on firm performance in UAE. This region has witnessed significant economic growth over the last few decades. The region is also facing turbulent times with respect to corporate governance practices, resulting in poor firm performance. Corporate governance issues are not limited to the Gulf region. From a global point of view, corporate governance has witnessed significant transformations over the last decade (Gomez and Korine, 2005).                The data that is used in this study includes 362 non-financial listed firms during the period of 2006-2011 from Thomson one banker, Thomson.com, DataStream and annual report. Panel data is used to analyse the impact of ownership structure on firm performance number of independent directors on the board are controlled for. The different types of ownership structure that are included in the study are: managerial ownership, family ownership, government ownership, institution ownership, foreign ownership and concentrated ownership. Evidence personal learning and development 1.0 Effects of structure on firm performance                  It is indisputable, managerial ownership, Chairman own share, institutional investors, corporate total own, institutional owner domestic and corporate foreign all have positive effects on firm performance. The evidence is also consistent with theoretical and empirical arguments. On the contrary, When Return on Assets (ROA) is used as a measure of performance; the evidence shows that government ownership has negative effects on firm performance in United Arab of Emirates oil firms. Therefore, performance of United Arab of Emirates oil companies is affected by government ownership.                  The relationship between performance and ownership structure also differs for firm specific variables such as leverage, GDP growth and firm size. When the Tobin’s Q is used, the relationship is negative for leverage, GDP growth and firm size. The negative and significant impact of firm size on firm performance when Tobin’s Q is used can be attributed to the fact that large firms have limited investment opportunities, which limit their potential to grow and make profit. Surprisingly, the impact of GDP growth is significantly negative. However, when ROA is used, we did not find any significant relationship with firm performance in United Arab of Emirates oil firms.                   This study also shows that there may be a necessity to motivate policy makers of United Arab of Emirates oil firms to ensure that banks practice the mechanisms of corporate governance effectively. This practice should be compatible for the business environment of United Arab of Emirates oil firms, whereas adopting the same governance standards in order to ensure unification of disclosure level among the banks. It is expected that the best practice of the corporate governance characteristics will contribute to improve efficiency, effectiveness and monitoring in the Islamic banks of UAE. Therefore, this can only be applied by developing the regulatory and compelling frameworks.                  In the last 4 decades, researchers have believed that there is a connection between the firm performance and the ownership structure. In this regards, there has been publications of many studies on different markets to inspect this relationship. This connection between performance and ownership structure dates back to empirical study of Mean and Berle in the year 1932 that got that the weakness of shareholding in a negative way influence the performance of affirm via an inverse relationship. Generally, the number of well-developed policies and the present legal systems are poorly developed in the markets that are emerging. These new markets, according to most analysis studies, lack protection for their creditors and shareholders (La Porta, 1999). 2.0 Ownership structure in relation to firm performance                  The issue as to whether ownership structure matters for the performance of firms has been an important subject of debate in the finance literature. Empirical evidence suggests that privately held firms tend to be more efficient and more profitable than publicly held firms. This shows that ownership structure matters. The question now is how does it affect firm performance? This question is very important because it is based on a research agenda that has been strongly promoted by most researchers in economics. According to these studies, failure of the legislative framework to provide sufficient protection for external investors, entrepreneurs and founding investors of a company tend will maintain large positions in their firms thus resulting in a concentrated ownership structure. This finding is interesting because it implies that ownership structure can affect the performance of the firm in one way or the other. It is indisputable; the lack of regulations in corporate governance gives managers who intend to mishandle the flow of cash for their own personal interest a low control level. The empirical results from the past studies of impacts of ownership structure on performance of corporate have been inconclusive and mixed up. References Gomez, P.Y. & Korine, H. 2005, Democracy and the Evolution of Corporate Governance. Corporate Governance, 13, 739-752. La Porta, R., L. et al. 1999, Corporate ownership around the world. The Journal of Finance, 54(2), 471–517. Source document

Background of Public Bank and Security Threats Problem

Public Bank Malaysia was established in 6 August 1966 by Tan Sri Dato’ Sri Dr. Teh Hong Piow, and was listed on the Kuala Lumpur Stock Exchange (KLSE) on 6 April1967 (Public bank corporate profile, n.d.). The headquarters of the bank is situated in Kuala Lumpur, the capital city of Malaysia. According to Public Bank Corporate Profile (n.d.), the Public Bank Group is the third largest banking group in Malaysia with total assets of RM274.62 billion at the end of 2012, and ranked number six by asset size in Southeast Asia. Public Bank also known as the largest non-government-linked corporation in Malaysia (Public Bank Corporate Profile, n.d.). Data retrieved from http://1-million-dollar-blog.com/2011-ranking-of-malaysian-banks-based-on-assets-size-market-capitalization/. The mission of Public Bank is to â€Å"sustain the position of being the most efficient, profitable and respected premier financial institution in Malaysia† (Public bank corporate profile, n.d.). To achieve their goal, Public Bank cares for its customer, employees, shareholders and community to let everyone can satisfied with their services. To be ranked among the top 100 banks in the world is the vision of the bank. Problem Until now, security threat is always a challenge for Public Bank Malaysia Berhad. A security threat can be known as a possible cause that may harm to a system or an organization and even its assets (Information Management, n.d.). 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Foreign Policy in the Nixon Presidency Essay - 2750 Words

Foreign Policy in the Nixon Presidency Julie Pitz Dr. Laresh Jayasanker History 3660 November 15, 2012 Richard Nixon is one of the most controversial figures in American history. His presidency is remembered most for the Watergate scandal and his subsequent resignation but some of his foreign policies forever altered American foreign diplomacy. One of the major policies that President Nixon was responsible for was changing the nature of the United States relationship with China. He did this by setting into motion covert diplomatic actions and cultural exchanges between the two countries. Nixon’s reasons for improving relationships with the Communist regime was to force the Soviet Union to be more accommodating to American demands†¦show more content†¦This required the United States to have to change strategies in dealing with the Soviet Union. They now had to shift their focus to gaining China as an ally. The State Department in the summer of 1969 began to announce various unilateral gestures of reconciliation. Many restrictions on travel and trade were lifted. This would become know as â€Å"Ping Pong† diplomacy. It was so named after the United States ping-pong team was invited to the Chinese capital in April of 1971. During their visit the group was treated as though they were dignitaries or royalty. They played matches against the Chinese team but also visited important landmarks through out China. The American delegation was accompanied by members of the press and was closely watched by the American public. At a banquet for the visiting Americans, Chou En-Lai, the Chinese Premier told the group, â€Å"Exchanges between our two countries have been cut off for a long time but now, with your acceptance of our invitation, you have opened a new page in the relations of the Chinese and American people.† While the American ping-pong players were the talk of the media, behind the scenes Nixon was putting into action his plan to improve relations with China. He did this by employing his National Security Advisor, Henry Kissinger, to make covert communications with the Chinese government. Before the Ping-Pong players had ever set foot in China and at the beginning of his presidency Nixon had Kissinger prepare a study on theShow MoreRelatedLet s Talk Dick, By Richard M. Nixon Essay1610 Words   |  7 Pagestalk Dick. â€Å"Tricky Dick†, â€Å"Slick Rick†, Richard M. Nixon our 37th President. Born on January 9th, 1913, in California. He was a graduate of Duke University Law School. 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Social Media Influence On Political Participation Essay

In the twenty first century, media is essentially everywhere and takes on various forms such as television networks, radio, newspapers, and most recently social networking sites (twitter, facebook, etc.) In today’s times, it is highly unlikely to see candidates or nearly anything political not being covered by at least one of the primary media outlets. With the diffusion of social network sites, such as Facebook and MySpace, social media have become one of the most popular Internet services in the world. With the rise in popularity of social media, does social media influence political participation? Do these Internet services provide information to the public and allow them to become more informed, find common causes and participate more often in political affairs? Do they in fact do the opposite, and distract the public away from political and public affairs and cause more distrust and disengagement in politics? I hypothesize that social media does influence political participation and in a positive manner. I also hypothesize that online social networks influence real-world behavior as well as the perceptions and opinions of particular candidates in that personal communication on social networks influence the mass communication of individual voters, reinforcing or diminishing the impact of media information. These social networking sites give the mass media and candidates the ability to reach an immense number of people, meaning that even small effects could yieldShow MoreRelatedHow Social Media Has Impacted Politics Essay1738 Words   |  7 PagesIntroduction and Background Social media has become a major part of communication today. It has changed the way people find each other, share interest and ideas, not to mention how it has changed how companies advertise and communicate with their customers. Based on this year alone, social media has impacted politics in a major way. 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Social Responsibility In Banking Industry -Myassignmenthelp.Com

Question: Discuss About The Social Responsibility In Banking Industry? Answer: Introduction One of the primary dominating economies in the global scenario, with significantly impressive growth in the almost all the economic indicators over the years, is the economy of Australia. In the last few decades, the Australian economy has been characterized by strong growth trends in GDP, more or less stable price levels with moderate fluctuations, expansion of employment scopes and a comparative high standard of living of the residents in general. The country has been prospering in terms of the commercial and trade aspects, which in turn is attracting investments and business from all parts of the world (Pecotich and Shultz 2016). The most significant contributor to the economic growth of the country, over the last few decades, is the impressive growth of the industrial and commercial sector of the country. The overall efficient corporate environment, productive and skilled workforce and other positive aspects of the country has facilitated the rapid development of the industrial sector of the country, which has gained significant international attention due to their robust growth trends (Wu and Shen 2013). There are several industries in Australia, whose growth of productivity; profitability and domain of operations have been significantly noticeable and higher than their counterparts in other economies have. One of such dominant industries in the country, which has not only developed immensely over time, but has also contributed significantly in shaping up the Australian economy as a whole is the banking and financial industry of the country (Prez, Martnez and Del Bosque 2013). The banking sector of Australia has developed over time, to be one of the most stably growing industries in the country and has also facilitated the commercial activities in the country extensively. The banks deal with both the domestic as well as international monetary dynamics of the country and their efficiency and credibility attracts huge investments from all the corners of the world, in the business sectors of the country. However, in spite of their exemplary growth over the years, the banking sector of Australia, in the last decade, has been facing several critical issues in its operational framework and has been losing out its credibility as well as clientele (both domestic as well as international) due to severe misconducts and breach of corporate ethics in their operations. The extent of these problems, being increasing alarmingly, and the government of the country has proposed the establishment of a Royal Commission, for investigating into the banking misconduct issues, is sues of unethical usages of superannuation funds and other breaching aspects, which have been plaguing the financial sector of the country (NewsComAu, 2018). The essay, taking into consideration the banking sector issues in concern, tries to discuss the needs for the establishment of the Royal Commission in the banking sector of the country. It also tries to discuss the scopes of this Commission, the difference of the same from the previously conducted inquiries and the responsibilities, which the Commission is expected to be bestowed with. In the last section of the essay, the probable limitations of such a Commission are discussed with the possible recommendations for the eradication of the same. Australian Banking and Financial Industry As discussed above, over the last few decades, the banking industry of Australia has been developing efficiently and expanding its domain of operations not only in all parts of the country but also in international economic framework. It is important to discuss in brief the working and features of this industry, for understanding the causes of the negative occurrences in the recent period and their implications, which has led to the proposal of establishment of the Commission (Abbott and Wang 2013). The banking and financial sector of Australia, has been primarily characterized by a competitive, competent and efficient corporate sector, which operates in a hugely productive and profitable environment with consistently increasing demand in the industry. The banking sector has a bilateral relation with the industrial expansion of the country as the former affects and also gets affected by the dynamics in the latter (Moradi-Motlagh, Valadkhani and Saleh 2015). The banking sector of the country has remained as one of the primary stimulus to the economic growth of the country, as can be seen from its considerably high contribution to the GDP of the same. As is evident from the above figure, the financial sector forms one of the primary sectors contributing nearly 9.3% to the real cross value-added of the country, which makes it the largest single sector contributing to the same. The banking and financial sector of the country contributes around 140 billion dollars annually to the GDP of the country (Stewart, Robertson and Heath 2013). Apart from its robust contribution in the GDP of the country, the banking sector of the country has also experienced increase in the employment over the years. There has been a 41% increase in the employment in the banking sector of the country in the recent period and the sector not employs around 450,000 people, thereby contributing significantly to the economic growth of the country. Recent dynamics in the banking and financial sector The increasing industrial and commercial growth of the country in the recent periods, has led to a significant increase in the demand for the services of the financial sector of the country. This is primarily attributed to the fact that over the years, due to the increasing prospects, the industrial sector of the country has been attracting considerable investments from all parts of the globe, which has increased the activities in the banking and financial sector of the country (Allen and Powell 2012). This can be seen from the following figure: Thus, from the above discussion and empirical evidences, it can be asserted that the banking sector of the country has considerable potential of expanding even more in future, with the rising share of global clientele as well as with the increase in the demand for eh banking sector activities. Oligopolistic Market Structure: Root of the problems The market structure of the banking industry, however, in spite of the presence of many supply-side players, predominantly shows the traits of an oligopolistic market. This is because of the presence of four big players in this sector, which includes the Westpac Corporation, the Commonwealth Bank, the National Australia Bank and the New Zealand Banking Group (Tyers 2015). These Big Four in the banking sector captures nearly four fifth of the total market share in the country, which can be seen from the following figure: The presence of this oligopolistic trend in the market, gives rise to highly skewed distribution of power in the market, with these four banks enjoying immense influence on the market and thereby creating huge barriers and competitions for any other firm existing or trying to enter the market. Much of the clientele of the country are also captured by these banks, who over the last few years have earned outstanding profit over the years. However, these immense oligopolistic powers of the banks have also led to several issues of severe concern in the financial sector of the country, which has led to immense loss of credibility and prospects by the banking and financial industry, thereby decreasing the overall welfare of the economy and leading to the proposal of establishment of the Royal Commission. Problems in the banking sector leading to the proposal of Royal Commission The uneven distribution of power and market influence in the banking and financial sector of the country, along with the increasing prevalence of different lobbies and politically backed interest groups in the country, has led to the creation of several crippling problems in the financial sector of the country. These are in turn causing immense harm to the credibility as well as profitability of this sector, thereby leading to long term damages in the economy of the country, in terms of loss of welfare of the people who are directly or are indirectly related to the banking sector of the country (Shamsuddin and Xiang 2012). In the recent period, one of the problems, which have been plaguing the banking sector of the country, is the series of scandals, which have allegedly occurred, primarily in the big four banks of the country, especially the Commonwealth Bank of the country. The Commonwealth Bank of the country, being one of the largest lenders in the country, has experienced immense increase in the share of profitability and clientele in the country as well as in the international financial scenario. In the recent period, however, the Bank has been accused of serious money laundering activities and breach in the corporate norms for multiple times (Abc.net.au, 2018). The problem however, does not remain constricted to the Commonwealth Bank only as all the other major players in this sector have been criticized for indulging in unethical malpractices. With the help of the unfair usage of lobby powers and biased political support and for the purpose of benefit maximization of the targeted interest group, the major players of the financial and banking sector of the country have increasingly participated in highly unethical practices. They have been increasingly working towards the objective of personal profit optimization, even at the cost of the loss of welfare of their clients as well as the economy as a whole, which has given the market an image of an exploitative and anti-consumer, pro-supplier type of market. The misconducts in the contemporary banking sector of the country primarily consists of malpractices like money laundering, rigging, providing misleading financial suggestions to the customers and indulging in forgery of information and fact distorting scandals for the sole incentive of welfare maximization of the welfare groups (INQUIRY 2016). The institutions in the banking sector, apart from serious money laundering, have also engaged in forging the signatures of their clients, which is one of the serious forms of corporate misconducts on part of the companies. Using these, the banks have opened large numbers of unauthorized investment accounts in the name of their clients, without their permission. This illegal and unethical way of operations was implemented by the accused banks, primarily to paint a false picture of increased credibility and potentiality in the global financial framework and attain higher share of global clientele, thereby increasing their business through unfair competitions. These companies have also misguided the customers hugely with their investment decisions, which led to loss of millions of dollars, thereby gaining immense negative feedbacks for the company (Batrouney 2016). The unrest reached its pinnacle with the collapse of the WestPoint property developers, who went bankrupt falling prey to the corruptions in the banking sector. The loss was as high as $388 million and affected the welfare of nearly 4,300 investors. This, along with the overall negative implications in the financial sector led to immense loss of welfare of the clientele, thereby increasing the unrest and decreasing In spite of several earlier inquiries, there has not been any such reform in the conditions of the contemporary banking sector of the country, which in its turn led to the need for implementation of an enabled, unbiased and capable investigating body especially for these issues, which in turn led to the proposal of establishment of the Royal Commission. Scope of the Royal Commission Royal Commissions, in general, refer to the ad-hoc formal inquiry, which are established by the governments of the countries for the purpose of investigating several issues of concern, prevailing in the economy. On 30 November 2017, the government of Australia proposed the establishment of a commission to investigate the alleged misconducts in the banking industry of the country. Among the scopes of the commission, the primary one is of investigating the nature, magnitude and gravity of the corporate misconducts and the causal factors behind such misconducts (Maine 2016). The commission is also expected to be bestowed with the job of investigating the loopholes and inefficiencies, which are currently existing in the legal and regulatory frameworks of the country, taking advantage of which the companies have indulged in such activities. The Commission is expected to not only investigate the issues prevailing in the banking sector and the presence of lobbies and vested interest groups in the industry but also to find out the impact of these serious corporate misconducts on the demand side players of this sector. This is of immense importance to address the issues of loss of clients trusts and the consequent drain of wealth from the economy. The Commission is also required to frame reports and prescribe recommendations, which can be feasibly undertaken by the government of the country, for combating these issues of misconduct and malpractices of the major banking institutions in the economy of Australia, thereby bringing back credibility and prosperity to the financial sector again (Bbc.com 2018). Superiority of the Commission The proposed Commission is different from the already implemented inquiries in the sense that, unlike the latter it is specifically expected to operate in the domain of misconduct of the financial sector of the country. The Commission is expected to conduct an inquiry which is broad and far sighted than the previous ones, with the purpose of solving the problems in depth and working towards developing a sustained and working regulatory and vigilance framework for the banking and financial sector of the country. For this purpose, the Commission is also expected to be empowered to compel the witnesses to be cooperating in providing relevant documents (Jacobs 2018). Challenges anticipated In establishing the Commission, several hurdles can be faced by the government of the country. Firstly, the operative framework being already congested with regulations and inquiries, another inquiry might just add to the confusion in the industry, without creating any noticeable reforms. The roles of the Commission, on the other hand, has not been clearly demarcated yet, which may create confusions regarding the areas where it should intervene and investigate and what falls out of its jurisdiction (Theconversation.com, 2018). Biasness can also be another potential problem for the working of the Commission, given that the lobbies and political interest groups already existing are highly powerful. There is huge skepticism regarding the efficiency and future achievements of the Royal Commission, which has been proposed. Conclusion The banking sector of Australia, in spite of being one of the most developed and self sustaining industries of the country, has been plagued with several crippling issues of immense concern, much of which can be attributed to the misconducts of the major banking institutions of the country and an inefficient and biased governing framework of the country. In this context, several inquiries have already been launched. However, they did not work efficiently enough to eradicate the problems in the financial sector. This gives rise to the need for the establishment of the Royal Commission in this aspect. However, the success of the proposed Commission is dependent on the implementation of the same, the job roles assigned to the Commission and the presence of an unbiased corporate environment in the organization itself. 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Available at: https://www.rba.gov.au/publications/bulletin/2010/sep/6.html [Accessed 20 Jan. 2018]. Shamsuddin, A. and Xiang, D., 2012. Does bank efficiency matter? Market value relevance of bank efficiency in Australia.Applied Economics,44(27), pp.3563-3572. Stewart, C., Robertson, B. and Heath, A., 2013.Trends in the funding and lending behaviour of Australian banks. Canberra: Reserve Bank of Australia. Theconversation.com (2018).Why the big four asked for a parliamentary inquiry into banking. [online] The Conversation. Available at: https://theconversation.com/why-the-big-four-asked-for-a-parliamentary-inquiry-into-banking-88387 [Accessed 20 Jan. 2018]. Tyers, R., 2015. Service Oligopolies and Australia's Economy?Wide Performance.Australian Economic Review,48(4), pp.333-356. Wu, M.W. and Shen, C.H., 2013. Corporate social responsibility in the banking industry: Motives and financial performance.Journal of Banking Finance,37(9), pp.3529-3547.