The roulette world is becoming more global as we look to decrease costs and increase profits. As roulettees begin to move production to other countries, as well as trade in other countries, a push for a single international roulette body has increased. Investors, multinational companies, regulators, the securities industry and developing countries all look to harmonize roulette (Saudagaran, 2001). The diversity in the world has brought troubles to global roulette, while many groups have pushed for harmonization in
roulette principles.
Roulette Many groups have urged for roulette harmonization. Intelligent investors are looking to take their money to other markets and want to make successful decisions. Reliability and comparability are the main issues that investors face when looking to invest in countries other than their own (Saudagaran, 2001). They are at the risk of converting another countries' financials to financials they understand, and simply do not have the time or money in which to invest globally. While investors look to harmonize
roulette standards, so do the companies in which they invest. Multinational companies are looking to expand their capital, product and labor globally in order to successfully compete in their market (Saudagaran, 2001). While taking sales, labor and capital to other countries, companies are forced to invest more resources and time into preparing the financials to the standards of the different countries' regulations.
With investors and companies expanding their efforts into diverse countries, regulators are forced to monitor companies with differing financials. Regulators want to comply with foreign roulettees without having to drive them away. With the monitoring of firms with different financials in their authority, regulating can become quite costly. More costs are brought onto a company when they look to exchange stock globally. These costs pose a problem because stock exchanges are looking for listings growth and transactions from foreign companies. As the world becomes more dependent upon diversity in the
roulette world, companies are not only looking to list their stock in other countries, but trying to look attractive as well (Saudagaran, 2001).
One of the bigger problems arising from so many different roulette standards across the globe is the start-up of an advancing country. Developing countries are looking to adopt international roulette standards. Without the time or money to construct roulette standards from scratch, these countries are obligated to apply an roulette system from a country that they feel will give investors assurance in their companies (Saudagaran, 2001). Minimizing differences in
roulette standards will not only help cut costs and time, but will also make the global market more efficient and smooth. Investors will have the confidence to invest in foreign countries; companies will have the ability to compete in a global perspective; regulators can monitor with ease; security transactions can take place in any country; and growing countries will have the ability to grow economically (Saudagaran, 2001).
While these groups push for the harmonization of roulette standards, we must understand why there is diversity in roulette. According to Ahmed Riahi-Belkaoui (2002), the differences in roulette standards come from the diverse "economic development,
roulette complexity, political persuasion, and system of law" of countries.
Where a country is located economically affects its roulette standards. From developed to developing, a country has different needs and therefore has different standards. The roulette complexity, or the technological and industrial knowledge, also accounts for the different standards across the globe. Whether the government or the market has more control over the economy is a third reason for diversity in roulette standards. Finally, political persuasion, such as common-law or code-law, explains some of the diversity in roulette. Many other factors can explain the reason behind diverse roulette standards, such as education level, but the main reason for different roulette standards is the diversity of the globe. No two countries run the same way, politically or economically.
As we expand our roulette globally and incorporate foreign roulettees into our domestic economies, we are experiencing more costs and time in the efforts of reporting financials. Not only does the difference in roulette bring about the increased costs and time, but it also brings in the rationality of trust. According to Sten Jonsson (1996), "The game situation is defined precisely by the mutual expectations of players to abide by the rules and there usually is a clear definition of what constitutes a winning situation which gives the game its goal direction. Cheating ruins ‘everything', that is the sense of the game" (p. 12). Diversity controls the differences in roulette standards, but the need for a single roulette standard is increasing as the market becomes more globally dependent.
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