The Legal And Market Systems Finance Essay - Free Essay Example

Sample details Pages: 7 Words: 2153 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Introduction The argument for this article is focus on maximizing firms value to society through firms ethical business decisions which require incorporate with the three forms of justice; economic justice, legal justice and distribute justice, in its business decision in order to protect stakeholders alienable and inalienable rights (indebtedness) and wealth maximization with minimum social waste. Pareto optimal efficient market exists when there is no feasible allocation of resources which can make some individual better off without making someone else worse off, Stiglitz (1981). The three forms of justice not incorporated when Pareto optimal business decisions has not make. Don’t waste time! Our writers will create an original "The Legal And Market Systems Finance Essay" essay for you Create order Thus, it indirectly reflects that the stakeholders rights will be violated because of the unfair redistribution of both residual and non-residual claims. To achieve Pareto optimal business decision, three forms of justice should require to be integrated. Besides indebtedness, moral debt is an additional firms obligation which occurs when the firm takes some sort of benefits from other stakeholders through not fulfilling just business decisions. To increase the firms value to society, the incorporation of all associated moral debt claims should be include in its business decisions. However, a strong economic argument had incurred that a better protection on stakeholders rights should be enforced by laws and regulations while engage with society. 2. The role of the legal and market systems: a change in perspectives The main objective of the firm in the traditional financial economic perspective is to maximize shareholders wealth. The results from having these perspectives are agency costs, conflicts of interest, and asymmetry of information between shareholders and stakeholders. Agency costs results from the managers not having same interests as shareholders and also the conflict of interest between employees and managers. Asymmetrical consequences are resulted from conflicts of interests. Thus, the shareholders or managers will gain upside benefits from non-Pareto optimal business decisions whilst the stakeholders and society will bear the down side costs. Laws and regulations are required to solve the non-Pareto optimal business decisions in order to help goal congruency by ensuring that the firm and director share in the downside costs. There should be more direct link between business decisions and consequences in order to allow more symmetrical distribution of the upside benefits and downside costs. This will encourage the agents of the organizations to integrate the moral debt claims in their business decisions by more symmetrical acknowledgement of the rights of stakeholders. The market system does not require more regulations since the courts should enforce all contracts. Those contracts are the important underpinning of the market system. However, it is assumed that the sophisticated (informed) issuers and sophisticated borrowers have been negotiated. Some researchers reject the argument in the traditional perspective that the competitive market system and legally binding social contracts are sufficient to keep markets efficient in the Pareto optimal sense and sufficient to protect all shareholders and stakeholders rights. La Porta et al. (2001) find that legal systems throughout the world vary in the way they formulate legal rules and enforce such rules to protect shareholders rights. Shleifer (2005) found out that countries with market systems associ ated with contracting theory are not always effective due to market limitations and frequent subversions of the courts. Generally, good protection and enforcement for stakeholders rights will limit the conflict of interest, agency costs and moral debt claims between inside and outside stakeholders. La Porta et al. (2001) suggest that all outside investors of the firm need their rights protected and that if rights enforcement is absent then insiders would not have much reason to distribute profits. 3. Going beyond the legal and market systems for Pareto optimal business decisions Donaldson and Dunfee (2002) argue that there is a moral need to go beyond the market and legal systems to enforce contracts due to the fundamental in maximizing societys wealth. Andolfatto (2002) and Feldman (1971) demonstrate that the well functioning market system will potentially work against fair distribution of claims (social policy) that requires the legal system through government intervention to protect inalienable rights. Initially, based on Chandler, 1998; Pieper, 1966; Schumacher, 1993; Steiner, 1999, we have to understand that individuals have the right to goods to satisfy their basic survival needs and that society as a whole is obligated to satisfy moral debt. The firm needs to protect the alienable and inherent inalienable rights and claims of all stakeholders in order to maximize the value of the firm to society. Shleifer (2005), La Porta et al. (1997, 1998, 2001, 2004), Shleifer and Wolfenzon (2002), Glaeser et al. (2001) and Beck et al. (2000) observe that coun tries that have strong regulations and enforcement for the protection of stakeholders rights find improvements in development and public participation in their respective capital markets. Ultimately, moral debt cannot be totally monitored by legislation alone. It requires the power from the individual, the firm and the government to be just in their decisions and actions. Morrison (2004) observes that the series of frauds and the governments response to those frauds have serious and wide-ranging consequences to the stability of our financial system. Thus, it is necessary to ensure distributive justice in order to help in satisfying stakeholders moral debt claims through their alienable and inalienable rights. 4. The moral debt distribution model and value-resetting There are 6 assumption of the moral distribution model. Firstly, when there is a claim by the moral debt holder towards the liable firm, it will involve money of shareholders with everything remaining the same. Secondly, huge moral debt responsibility firm may have value to shareholders but may not to society because claims are redistributing. Thirdly, maturity date of the debt can be immediately and continuing due to the present of transferable right. Fourthly, whenever a firm exists, the total face value of the debt will not be zero. Fifthly, the debt claim might not be lawfully applicable. Lastly, through ethical behavior, value to society is maximized by firm when it distributes its wealth equally and residual claims are attained. Figure 1: The moral debt distribution payoff graph Based on Figure 1, typically, the value to society by firm is lesser than to shareholders when the moral debt is not evenly spreading out. The decision is within the market and lawfully acceptab le but immoral. So, it will not incur any external costs. It is non-Pareto efficient. Thus, consideration must be given before the firm realizes its obligation to the society. The market value of the firm (MV) is equal to equity plus debt. The value of the moral debt, DMD is equal to total debt, DT minus financial debt, DF. If the DMD is more than 0, the value to shareholder, VSH is more than to society, VSOC. Thus, firm can decrease the DMD to 0 when DT -DF and so VSH =VSOC. The VSH is maximized when the maximum cost to shareholder is 0 because of the limited liability status of the firm and moral debt that unfulfilled the lawful application. The VSOC is maximized when the maximum cost to society it is at -DT because of the total redistribution of claims. Figure 2: The moral debt distribution payoff graph (decrease the moral debt claims without any changes in share price). Based on Figure 2, it is more effective to decrease the moral debt when the firm evenly spreading out al l the claims. The decision is within the market, lawfully acceptable and moral. So, it will not incur any external costs. It is Pareto efficient. To decrease the moral debt claims, the VSOC will increase when the societys payoff move to the left to the societys new payoff, with everything remaining the same, because the firm meets its obligations. It will lead to a more optimal Pareto. The market value of the firm (MV) is equal to equity plus debt. The value of the moral debt before evenly spreading, DMD is equal to total debt, DT minus financial debt, DF. The value of the moral debt after evenly spreading, DMD is equal to total debt, DT2 minus financial debt, DF. The value to shareholders before evenly spreading is VSH and after is VSH2. The value to society before evenly spreading is VSOC and after is VSOC2. Figure 3: The moral debt distribution payoff graph (decrease the moral debt claims and resulted in the decrease in share price). Truthfully, when the firm meets its obli gation, it affects the residual claims available to shareholders. It will produce a value-resetting in the share price and so to the firms market value. Based on figure 3, the decision is within the market, lawfully acceptable and moral. So, it will not incur any external costs. It is Pareto efficient. The share price is affected when there is efficient competitive market at discounted future cash flows. With everything remaining the same, when the moral debt claim decreases from DT ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢DF to DT3 ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢DF , the market value decreased from MV to MV3 because the firms equity revalue the firm at MV3 using the value-setting. There will be more even spreading of claims which resulted the movement of the societys payoff line to the left so that the value to society of the firm increases from VSOC to VSOC3 while the value of the firm to shareholders decreases from VSH to VSH3. The decrease in the value of the firm to shareho lders is not a loss but a value-resetting. In the figure, the firm is over-valued in value-resetting is due to the non-Pareto business decision. This decision benefited the large investors and not the society or stakeholders. Due to the fact that large investors rather maximize their own benefit than distributing maximum residual claims. If there is not any protection over the stakeholders, the social costs will be bear by the stakeholders as the benefit is the shareholders. Therefore, the risk can be covered by law and regulation by implying constraints on management decisions. This is when there are not any transferable or nontransferable rights, as the wealth is redistributed, at any near future time. The extent of the law and regulation will determine the capital market effectiveness. The risk can also be covered with the agency costs when the firms is nearly bankrupt to a stronger firm with higher risk investment. It forces the redistribution wealth to be transfers from stak eholders to shareholders. However, there will be no welfare loss if there isnt any wealth to redistribute. There are 2 situations where over-valued can incurred. First is when the moral debt obligation is not exercise. Thus, the firm will find a more controllable market value and equity value which lead to higher value to the society. The second event is when the firm has limited liability like the partnership. This is because unlimited liability firms have a better contract compliance and monitoring. Costs incurred for the law and regulation implied was fixed while the costs incurred during the market system cannot be fixed. The usage of this market system is to provide clear prices and express and accumulate information. Value-resetting is one of market system correction. It enables the firm inference the stakeholders moral debt claims to make ethical business decisions. 5.0 Business decisions, externalities and share price over valuation Externalities described an allocation of transferrable ownerships to other in a designed economy. It constitute of two components, a normal good and public good, the advantage or threat to others. Business decisions that take into consideration of moral requirement are distributive justice and others two justices in defending rights and deduce externalities. Governance interferes only happen when externalities risk cannot be offset in capital market. Externalities occur when private cost of firm cannot fully cover social costs of particular business decision. For the market efficiency, traders shall make rational judgment and utilize their property rights. Stakeholder must realize future benefit and costs to transfer any ownership and special oversight are needed to defending stakeholders right and to reduce redistribution of stakeholders claims. Firm value maximization cannot achieve with the presence of externalities in the firm value to society. When externalities incre ase, firm can obtain advantage from redistribute claims and further make an overvaluation to the firm share price. Shareholder will better off but on the other hand the society is worse off. In conclusion, firm can raise its share price from two approaches, by being Pareto or non-Pareto optimal. Pareto used ethical business decisions to allocate claims and apply value resetting of the firms equity. This can increase stakeholders value to maximize firm value to society. Non-Pareto optimal business decision by reallocation of stakeholders claims that increase the conflicts of interest and assist an over valuation of the firms equity. This may not provide benefit to shareholders but it may benefit selected group like management or majority shareholders, but this will eventually decrease the value of the firm to society. 6.0 Conclusion To maximize firm value to society, firms shall incorporate stakeholders moral requirement into business decisions, which do not have legal and financial control on transferable ownership in the firms. When shareholders, directors and governments realize the obligation of moral debt and go further beyond existing corporate governance, this will eventually increase the value of the firm to society.

Guns and Mental Illnesses Dont Mix Essay - 1120 Words

â€Å"Guns don’t kill people, people do.† This is a well known statement that is oftentimes considered true. However, it is not completely true. Someone who is mentally ill may be unable to make logical decisions and the perception they receive of reality may be tainted by the illness. Gun laws pertaining to those suffering mental illnesses should be more restrictive. Weapons such as guns make committing an act of violence, especially when there are multiple victims, much easier. It is difficult to assess the probability of a person to commit a violent act that harms anyone including himself/herself. Therefore, gun laws need be monitored very closely and made more consistent throughout each state in order to prevent violence that could†¦show more content†¦Over two-million Adult Americans suffer with this illness. Schizophrenia usually occurs in people between the ages fifteen and twenty-seven. One in ten people commit suicide, one in five recover, and two thirds of people improve with treatment. Major depression is a persistent depression that is more disabling than a case of â€Å"the blues†. The symptoms described with the illness are hopelessness, insomnia, fatigue, inability to concentrate, diminished interest in activities, as well as suicidal thoughts. Manic depression, otherwise known as bipolar disorder, is identified with episodes of mania and depression. Its symptoms include severe mood swings, inflated self-esteem, and impaired judgment. This is a dangerous illness because the person who has an extreme case of this illness is very likely to have an outburst of anger that may transform into a kind of rage that is hard to calm down. Over two-million Adult Americans suffer from bipolar disorder; manic depression. (Parker) Minor illnesses are those that are associated with a lower amount of severity. Some minor illnesses include obsessive-compulsive disorder and stress induced anxiety. Obsessive-compulsive disorder is a recurring behavior that involves inappropriate behavior and is considered to be impulsive which includes actions such as repetitive actions, consistent hand washing or continuous counting. However, many of the mental illnesses manifest into multipleShow MoreRelatedSymptoms And Symptoms Of Depression Essay3379 Words   |  14 Pagescorrelated to depression, has many contributing variables that can be very detrimental to your physiological and psychological health [may be need more explanation and some specific examples to make argument stronger]. Depression is a very serious mental illness that negatively affects how you feel, the way you think and how you act. It can be caused by stressful events or can occur spontaneously, with no identifiable specific cause. Those suffering from depression looking for a treatment to alleviateRead MoreHealth Safety Issues in Garments Industry of Bangladesh11720 Words   |  47 Pagesthe Joint ILO/WHO Committee on Occupational Health at its first session in 1950 and revised at its twelfth session in 1995. The definition reads: Occupational health should aim at: the promotion and maintenance of the highest degree of physical, mental and social well-being of workers in all occupations; the prevention amongst workers of departures from health caused by their working conditions; the protection of workers in their employment from risks resulting from factors adverse to health; theRead MoreGp Essay Mainpoints24643 Words   |  99 Pagesup his or her macabre, misspelt poetry online. †¢ Anyone can masquerade a superstition for scientific truth and create a website to scare similarly weak-minded netizens Mainstream BAD: Profit motive and Government-regulated - reliability †¢ â€Å"Don’t let the facts get in the way of a good story† is an instruction often heard in the newsroom †¢ Concept of media ethics is conceived to be an oxymoron. Sadly, many aspects of the modern media are stripped of almost all ethical concerns. In a realityRead MoreFundamentals of Hrm263904 Words   |  1056 Pagesour very gifted and patient editor; Carissa Doshi Marker, Assistant Editor; Sarah Vernon, Senior Editorial Assistant; and Sandra Dumas, Senior Production Editor. Others deserving special mention for their contributions are Brenda Moorehead and RaeAnn Guns. Last, we want to acknowledge a few people individually. From Dave: To my wife, Terri, for all her support and love. And to my children— Mark, Meredith, Gabriella, and Natalie—thank you for all you do. You continue to be the â€Å"light of my life.† FromRead MoreDeveloping Management Skills404131 Words   |  1617 Pageschaotic pace of change, â€Å"If you’re not confused, you’re not paying attention.† And the late Peter Drucker characterized the current environment thi s way: â€Å"We are in one of those great historical periods that occur every 200 or 300 years when people don’t understand the world anymore, and the past is not sufficient to explain the future.† Almost no one would argue that â€Å"permanent white water† best characterizes our current environment. Almost everything is in flux, from our technology and methods ofRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesTeam Efficacy? 322 Point/Counterpoint We Can Learn Much About Work Teams from Studying Sports Teams 326 Questions for Review 327 Experiential Exercise Fixed versus Variable Flight Crews 327 Ethical Dilemma Unethical Teams 327 Case Incident 1 Why Don’t Teams Work Like They’re Supposed to? 328 Case Incident 2 Multicultural Multinational Teams at IBM 329 11 Communication 335 Functions of Communication 336 The Communication Process 338 Direction of Communication 338 Downward Communication

Dual Narrators in Joseph Conrads Heart of Darkness free essay sample

A detailed discussion of Conrads use of two first person narrators with respect to the major themes of `Heart of Darkness` This paper outlines and discusses how the use of an anonymous frame narrator and the primary narrator Marlowe encourage the reader to see the major concerns of the novella. These include the hypocritical nature of western imperialism on the late 19th century, the transitory nature of western civilization and the nature of evil. `In Joseph Conrads impressionistic novella Heart of Darkness the unusual use of dual narrators is very important in positioning the reader to understand the themes of the novella. Three of the main themes that are constantly referred to in Heart of Darkness are the hypocritical nature of western imperialism, the transitory nature of western civilization and the nature of evil. The dual narrator system has a primary narrator, Marlow, who is telling the story to three people, all somehow involved in the business of imperialism, on-board a yawl called the Nellie. We will write a custom essay sample on Dual Narrators in Joseph Conrads Heart of Darkness or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It also has a frame narrator, an anonymous person with some connection to imperialism who is relating the events that occurred on the Nellie to the reader. Both of these narrators are used by Conrad to position the reader to see the novellas themes. Marlow is used fairly directly and his biased point of view and definite moral sense of right and wrong are used to directly position the readers perspective on the three major themes mentioned earlier. The frame narrator specifically positions the reader in terms of the three themes mentioned earlier. He is also used indirectly by Conrad to position the reader in terms of the themes of the novella, he gives the reader a short background of Marlow and his stories and also encourages the reader to believe that Marlow is a very perceptive and trustworthy character, therefore, his story, and so the ideas that surround it, are important and worth thinking about.`

This Awesome Peice of Writing Essay Example Essay Example

This Awesome Peice of Writing Essay Example Paper This Awesome Peice of Writing Essay Introduction A fox is a omnivorious mammal that is part of the Canidae family. Foxes are a small – medium canid, that are extremly cunning. The ModernEnglishword â€Å"fox† isOld English, and comes from theProto-Germanicwordfukh. The average fox lives for 5 years, which then they usually die of hunting, road kill, and diseases. Reynards (male foxes) weigh on average, 5. 9kilograms and vixens (female foxes) weigh less, at around 5. 2kilograms. Foxes are normally extremely wary of humans and are can be kept as pets.Foxes usually live in forest where there is easy prey nearby. Some foxes like the Chilla fox live in the desert. In many fictional stories, the fox appearsas a symbol of cunning andtrickery, or as afamiliar animalpossessed of magic powers. In stories foxes are said to be ingenius creatures that are also swift and flexible. In both stories and in reality foxes seem to be very cunning and smart. Foxes are also very swift and have extremly high leaps as they move. However in m ost stories foxes have magical powers whilst in real life this is obviously false. | | | | | | | | |Habitat |forest |desert | | | | | | |Strengths | | | | | | | | |Weaknesses | | | | | | | | |Diet (animals) | | | | | | | | |Diet | | | | | | | | |(plants) | | | | | | | | Books I have read that include foxes: 1 Foxes book of martyrs The fox diaries 3 Foxes 4 The Midnight Fox 5 In many cultures, a fox is the symbol for a cunning person; in others a vixen is the symbol for the lascivious woman. But what do you really know about this animal? 1. During the Ice Age, 400-650,000 years ago, the red fox and polar fox split from a common ancestor, Vulpes alopecoides. 2. Foxes can live solitary, in couples with their offspring or in groups of 4-6 adults. The territory of the groups, depending on the resources, varies between 100 and 600 hectares, usually with a ray of 7 km (4. 2 mi). The normal gait of a fox is a slow trot. Foxes can be found up to altitudes of 2,500 m (8,330 ft). 3.A fox can t ell the sex, hierarchical position, status and the location of another fox with the help of its smell. When two foxes meet, the lower status one lowers its ears and displays its abdomen (the vulnerable part) as a sign of submission. Foxes can emit up to 46 different calls. Their calls resemble a nasal dog bark. They hear sounds with frequencies between 700 to 3,000 Hz and have kin hearing (they hear the squeak of a mouse from a distance of 100 m or 330 ft). Their eyesight is weak and foxes hardly distinguish immobile objects. A fox emits a heavy scent, given by glands located near anus, like in skunks. These mammals have very kin smell (they can keep the track of the prey for several kilometers). 4.Foxes hunt alone, during the night, preferentially rabbits and rodents (mice, voles, ground squirrels), but also moles, song birds, ducks, quails, partridges, pheasants, eggs, insects (like locusts and beetles, including their larvae), earth worms, but they also eat fruit (in some cases a nd in some species up to 90 %), cadavers of big hoofed animals (or even their living offspring) and red kangaroos (in Australia), fish, frogs and crayfish in wet areas and garbage in urban areas. A sole fox can destroy in one year 5,000-6,000 rodents. In fact, there are large fox populations in London, Paris, Hamburg, New York, Toronto, Amsterdam, Berlin and others, advantaged by the lack of predators and abundant food sources represented by human wastes, rodents and birds. The young of these urban foxes are prone to be victims of car accidents. Foxes can consume plant food, too, like raspberries, cranberries, (fallen) apples, pears, grapes. A fox needs 300-600 grams of food per day; a lactating female 700 grams.The animal travels about 12 km (8 mi) per night in search for food. They decimate the populations of nesting birds (shearwaters, ducks and so on). In US, following the extermination of the wolves and coyotes the number of the foxes boomed and the number of ducks plummeted. S till, foxes control rodent populations. When spotting a rodent or bird on the ground, the fox approaches slowly to a distance from which it jumps over the prey. Foxes are hunted by wolves, lynxes and eagles. 5. Foxes use dens dug by badgers, marmots, rabbits, shelducks and other foxes. They can cohabit with the badgers (but keeping the distance) and the comfortable den has many entrances for aeration and escape in case of danger.The fox dens use to be plagued by fleas and impregnated by the heavy smell of the anal glands. 6. Monogamous family is the rule for foxes, a rare case amongst mammals. They mate in January-February and gestation lasts 50-56 days. Females give birth to 3-12 cubs. Newborn have closed eyes and woolly dark gray hair. In two weeks the offspring open their eyes and can eat pre-digested meat, by the age of 5 weeks they go out of the den and play. They are independent at the age of 5 months. In 9 months they are sexually mature. These animals can live up to 12 years . 7. Foxes can reach 48 km (30 mi) per hour. The tail serves for balancing when making sudden movements. . There 48-77 races of red fox, depending on fur color and size. The fox appears in many pieces of literature. As well as several references in the bible, the fox is central inAesop’s fablesfrom about AD500, features inCanterbury Talesand is the main component of the epic poemReynard the fox. Even today foxes have an important part in language and literature. Many famous children’s stories contain foxes as protagonist. These includeThe Gingerbread Man, Chicken Licken, The Sly Red Fox and the Little Red HenandFantastic Mr Fox. Such stories typify the stereotype that foxes are cunning and deceitful, but also successful and to be admired.In language,to foxmeans to trick or deceive. It can also be used to refer to a cunning or deceitful person, though more recently a fox or foxy can be used to refer to an attractive woman [pic] |T | |[pic] | HERE was once a little red h en that lived in a house by herself in the wood. And over the hill, in a hole in the rocks, lived a sly, crafty old fox. Now this crafty old fellow of a fox lay awake nights, and prowled slyly about days, trying to think of how he should get the little red hen. He wanted to carry her home to boil for his supper.But the wise little hen never left her house without locking the door and putting the key in her pocket; so the old fox watched and prowled and lay awake nights till he grew pale and thin, but he found no way to get the wise little red hen. At last one morning he took a big bag over his shoulder, and said to his mother: â€Å"Mother, have the pot boiling when I come home, for I’ll bring the little red hen for our supper. † Away he went over the hill and through the wood to where the red hen lived in her snug little house. Just at that moment out came the little red hen to pick up sticks for her fire, and in slipped the fox and hid behind the door.In came the hen in a minute and locked the door, and put the key in her pocket. When she saw they fox she dropped her sticks and flew with a great flutter up to the beam across the house under the roof. â€Å"Ah,† said the sly fox, â€Å"I’ll soon bring you down. † And [190] he began to whirl around and around and around, faster and faster and faster, after his big, bushy tail. The little red hen looked at him till she got so dizzy that she fell off the beam to the floor. The fox caught her and put her into his bag and started straight for home. Up the wood and down the wood he went with the little red hen shut tight in the bag. She thought it was all over with her. After a while the fox lay down to rest.Then she came to her wits, and put her hand into her pocket and took out a bright little pair of scissors. With them she snipped a hole in the bag. She leaped out and picked up a big stone and dropped it into the bag and ran home as fast as her legs could carry her. The fox wa ked up and started again with his bag over his shoulders. â€Å"How heavy the little red hen is,† he said, â€Å"that I am to have for my supper. † His mother was standing at the door of his den waiting for him. â€Å"Mother,† he said, â€Å"have you the pot boiling? † â€Å"Yes, to be sure! † said she, â€Å"and have you the little red hen? † â€Å"Yes, here in my bag. Lift the lid, and let me put her in,† said the fox.The fox untied the bag and held it over the boiling water and shook it. The heavy stone fell into the water with a splash which went up over the fox and his mother and scalded them. And the little red hen lived safe in her house in the wood This story is about afoxnamed Mr Fox. In order to feed his family, Mr Fox stealschickens,ducks, andturkeys, each night from three mean and wealthy farmers: Boggis, Bunce, and Bean. The farmers are fed up with Mr Fox’s theft and try to kill him. One night, the farmers wait out side Mr Fox’s foxhole in an attempt to ambush him. When Mr Fox emerges from his home, the farmers fire at him. However, the farmers only succeed in blowing off Mr Fox’s tail. [1]Determined to catch him, the farmers use spades and shovels to dig their way into the foxes’ home. However, Mr and Mrs Fox and their four children escape by digging a tunnel deeper into the ground. The farmers then usebulldozersin order to dig deeper into the ground, but to no avail. The three men therefore decide to watch the entrance to the fox tunnel withshotgunsat the ready, while the farmers’ men patrol the area to make sure the foxes do not escape. After three days of starving, Mr Fox comes up with a plan. He and his children dig a tunnel into Boggis’ chicken house. There, they steal some chickens and depart without leaving any sign of their presence.They also raid Bunce’s storehouse of ducks,geeseand vegetables as well as Bean’s underground cellar ofcid er. Along the way, the foxes meetBadgerand other digging animals who are also starving due to the farmers’ siege of the hillside. Mr Fox, feeling responsible for the whole affair, invites the other animals to a feast made from the loot. At the feast, the animals decide to make an underground town where they will be safe, while discreetly obtaining food from the farmers. Meanwhile, Boggis, Bunce, and Bean keep guard on the tunnel entrance in pouring rain, unaware that Mr Fox and his friends are stealing their food right under their noses. The book ends with the indication the three will be waiting forever This Awesome Peice of Writing Essay Thank you for reading this Sample!