Six news articles are attached below. Select TWO articles only.

ASSIGNMENT STRUCTURE: The assignment must follow this structure: 1. Cover sheet 2. For each article: a) Article [Type number and headline of article here] Summarise the article you have chosen, being sure to introduce points you will discuss in more depth in your analysis. Hint: Do not mention your theory in this section (Guide: 150 words). b) Theory [Type name of your chosen theory here] Identify and describe your chosen theory using high quality and appropriate academic sources to support your discussion. Be sure to identify aspects of your theory that you will discuss in more depth in your analysis. Hint: Do not mention your article in this section (Guide: 250 words). c) Analysis Apply your chosen theory to your article. Demonstrate specific application of the theory with examples from the article. Hint: You should not need to introduce new material/sources in this section as you are applying/synthesising what you have already introduced in the previous two sections. This is critical thinking (Guide: 300 words). d) Conclusion Briefly conclude Keep this to only one or two sentences. 3. Reference list FORMATTING AND OTHER REQUIREMENTS . Do not exceed the maximum word limit (1500 words +10%) . Your homework should include at least six scholarly sources, three for each article evaluated. Do not use any text-book or the lecture slides as a source (scholarly or otherwise). Only use published research articles, academic books, and conference papers (note that published research articles rank highest for quality and credibility as they are peer reviewed). The homework must be properly referenced using APA in-text referencing (also see point 9 below), with a list of references provided at the end of the assignment. A university guide to using the words and ideas of others, which includes a referencing guide, is included with the assignment documentation. Include document page number in ALL in-text citations (e g Smith & Jones, 1997 p.16) Do not include the article with your submission. ARTICLES Six news articles are attached below. Select TWO articles only. THEORIES Select TWO different theories/hypotheses from the following and apply ONE to each of the chosen articles. Please do not combine theories. To be clear, you are to apply only one theory to each article. For example, if you select legitimacy theory for one article you cannot use legitimacy theory for the second chosen article Theories of regulation Public interest theory . Capture theory 1. Private interest theory (economic theory) Political economy or systems-based theories Legitimacy theory . Stakeholder theory (select one branch) o Ethical (moral) branch D Managerial branch Economics or market-based theories . Efficient market hypothesis together with Capital market research . Agency theory . Positive accounting theory (plus select one hypothesis) o Political cost hypothesis o Bonus hypothesis o Debt hypothesis Article 1 - Siemens stares down Thunberg supporters, votes to stick with Adani project The Sydney Morning Herald, January 13, 2020 https://www.smh.com.au/world/europe/siemens-stares-down-thunberg-supporters-votes-to- stick-with-adaniproject-20200113-p53gxy.html London: German engineering giant Siemens will stick with its involvement in the controversial Adani mine project in Queensland despite a backlash from climate activists in Europe and Australia. Emerging from a board meeting convened to decide whether to abandon a $29 million contract to provide signalling equipment for the coal mine's railway, chief executive officer Joe Kacser said the company had a "legally binding and enforceable fiduciary responsibility" to carry out the project. But in a sign of the growing power of the anti-Adani movement in Australia and now Europe, Kacser said he "may have acted differently" had it been his own private company and moved to invite German climate activists to participate in a new sustainability committee. "I do realise most of you would have hoped for more, " he said in a statement. "While I do have a lot of empathy for environmental matters, I do need to balance different interests of different stakeholders, as long as they have lawful legitimation for what they do." The company was the focus of demonstrations in several German cities on Friday organised by the German branch of the Fridays for Future environmental youth movement. Nearly 60,000 people signed a petition calling for the firm to walk away from Adani. Climate activist Greta Thunberg had also called for Kasser to "make the right decision". But Kacser said other competitors would happily supply the equipment, meaning a decision by Siemens to pull out would not have stopped the mine project from going ahead He added that Siemens had secured the right to pull out of the contract should Adani violate its "very stringent environmental obligations". "Keeping our promises is Siemens' highest priority. Only being a credible partner whose word counts also ensures that we can remain an effective partner for a greener future," he said. 2"In this case, there is a legally binding and enforceable fiduciary responsibility to carry out this train signalling contract. Had it been my own company, I may have acted differently, although there is factual clarity that the installation of our signalling system - and thereby making the already existing rail track safer - does not impact whether the coal mine will happen or not." Kacser cited a letter from Resources Minister Matt Canavan - a strong proponent of the Carmichael mine - which claimed the "Australian people clearly voted to support Adani at the federal election in May 2019, especially in regional Queensland". "It would be an insult to the working people of Australia and the growing needs of India to bow to the pressure of anti-Adani protesters," Canavan wrote. Siemens in November announced a 1 12 billion cura ($2.1 billion) profit for the fourth quarter, off a revenue of 24.52 billion euros. Galilee Blockade spokesperson Ben Rennings attacked Siemens and said the firm had "trashed their billiondollar reputation for a $30 million contract". "Their reckless indifference to the suffering of Australians will be judged harshly, now and in the history books, "he said, speaking on behalf of the group which aims to prevent coal and gas extraction in the Galilee Basin. "Siemens' expertise is vital to the Adani coal railway and there is too much at stake to give up. Citizens will escalate their protests until Siemens listen to the science and choose the right side of history." Kacser said he had huge sympathy for the victims of the Australian bushfire emergency but said there was no evidence to link that disaster with the Adani mine. "Even though we do not have clear evidence that the wildfires and this project are directly connected, I feel empathy for all those, who spoke up and warned about worsening conditions," he said. He ordered Siemen's Australian arm to come up with a proposal on how the company can help rebuild destroyed infrastructure in coastal and regional communities. Article 2 - Old election 2020: LNP slams Labor for 'rigging' poll after last-minute law changes The Courier Mail, June 19, 2020 https://www.couriermail.com.auews/queensland/queensland-government/qld-election- 2020-Inp-slams-laborfor-rigging-poll-after-lastminute-law-changesews- story/4057559131e9f37b14d73c3465610cff VOTERS could be greeted with a sea of Labor-affiliated bunting at booths while the LNP are restricted to six signs under new electoral laws that "rig" the October election, the Opposition says. Opposition Leader Deb Frecklington has blasted the changes that were passed last night and will influence her upcoming election fight against Premier Annastacia Palaszczuk. 3It's understood the laws - which included 100 pages of more than 200 amendments to what was previously announced - were only presented to the Opposition late Tuesday ahead of their introduction to parliament on Wednesday and the vote last night. The last-minutes changes angered the Opposition, who argued broadscale and lasting changes to the electoral system were being brought in without proper scrutiny. The amendments relaxed proposed restrictions on election bunting after complaints the voices of independents and smaller parties would be quelled. Candidates and political parties will now be able to display six signs at designated areas at polling booths. However, "third parties", which include unions, may display two signs at designated areas at pre-poll offices, and four signs at designated areas of polling booth on polling day. Meanwhile, electoral expenditure spending caps will cap party spending at $92,000 for every endorsed candidate - or a maximum of about $8.55 million if they run in every electorate. Unions can only spend $87,000 per electorate and no more than $1 million statewide, Ms Execklington said Labor was "trying to rig the electoral system". "These electoral changes mean that when voters go to a polling booth October 11st they could be met with 100 corflutes from Labor and the unions, but only six from the LNP," she said. "These changes mean that Labor and the unions could spend $2.3 million on a single seat but the LNP could only spend $150,000. "Labor are blatantly rorting the electoral system. "She said the unfair changes followed a scrapping of Queensland's old *Just Vote One' system with no public consultation and the banning of property developer donations because it benefited Labor Katter's Australia Party have also complained the changes tip the scales for Labor, Premier Annastacia Palaszczuk said her Government wanted people to be able to vote "free from harassment". "That is why the Bill makes some changes to the requirements for signage and limits the signage that can be displayed at pre-poll and polling locations," she said. Article 3 - ANZ *not dragging its heels on climate* The Australian, November 13, 2020https://www.theaustralian.com.aw/business/financial-services/anz-not-dragging-its-heels- onclimateewsstory/3169ceca559c00de3066d51fc3941924 ANZ Bank has rejected claims by climate activist group Market Forces that it's lagging rivals in responding to climate change, saying the facts do not support the group's assertions. Market Forces has proposed a shareholder resolution calling on ANZ to disclose its strategies and targets to reduce its exposure to fossil fuels in line with the objectives of the Paris Agreement, or risk exposing itself to "needless climate-related financial risk". "Despite committing to support the climate goals of the Paris Agreement, ANZ has failed to align its investment practices or policies with these goals," the group said in the notice of meeting for ANZ's annual meeting on December 16. ANZ denied it was lagging the rest of the industry, or that it was an active investor in an expanding fossil fuels sector. The bank also said it was untrue to claim that it only provided "superficial" disclosures on its approach to managing climate-related risk. At its full-year result late last month, ANZ unveiled a new policy on climate change. The aim was to help its top-100 customers for carbon emissions make the transition to carbon neutrality by 2050, as well as support transitioning customers and reduce its own footprint. More specifically, the bank said it would further reduce the carbon intensity of its electricity- generation lending portfolio by only directly financing gas and renewable projects by 2030. Further, it would engage with existing customers with a thermal coal exposure of more than 50 per cent to support their diversification plans, and not fund any new coal-fired power plants or thermal coal projects, including expansions. Existing loans, the bank said, would run off by 2030. ANZ said it was also committed to maximising the financial opportunities available from the transition to net zero. It would fund and facilitate at least $50bn by 2025 to help its customers reduce their impact on the environment and ensure that $1bn of that amount was allocated to disaster resilience. ANZ said it had not directly financed any new coal-fired power stations since 2015 and had reduced its funding of thermal coal projects by 70 per cent over the same period. Article 4 - 'Responsible thing to do': Qantas pledges zero net emissions by 2050 Sydney Morning Herald, November 11, 2019 https://www.smh.com.au/business/companies/responsible-thing-to-do-gantas-pledges-zero- net-emissions-by2050-20191110-p5394d.html 5Qantas will pledge to cut its net carbon emissions to zero by 2050, breaking ranks with its global airline peers at a time when aviation is under unprecedented scrutiny over its contribution to climate change. The Australian carrier will on Monday become the second airline group in the world to make a zero net emissions commitment, which it plans to achieve through fuel efficiency and the use of carbon offset schemes. Qantas' goals go beyond its previous pledge to cut emissions to half their 2005 level by 2050, which is in line with most other airlines and their global industry body. Qantas chief executive Alan Joyce said the goals would result in the airline group, including budget arm Jetstar, capping net emissions at their current level of about 12 million tonnes from next year and then cut it gradually over the next 30 years. "It won't be a straight line to zero simply because the progress on biofuel and other technology won't be linear, either. But there will be clear progress," Mr Joyce said. "We picked 2050 because it's ambitious but we think it's achievable." Aviation contributes about 2 per cent of the world's carbon emissions and that is likely to grow as the number of people flying double every year between now and 2037, according to International Air Transport Association forecasts. Europe has experienced the rise of "flight shame", as people avoid air travel to reduce their contribution to global warming, and last week nine European Union finance ministers called for an aviation tax within the bloc to make airlines pay a "fair price" for the pollution they produce. Mr Joyce said airlines had a responsibility to cut emissions, and he wanted to "do more and faster". However, he said air travel's contribution to society and the economy should not be forgotten. "The industry has already come a long way in cutting its footprint and the solution from here isn't to simply "fly less' but to make it more sustainable, " Mr Joyce said. "We're doing this because it's the responsible thing to do, but hopefully it will also encourage more people to choose Qantas and Jetstar." International Airlines Group, which owns British Airways, Aer Lingus and Iberia, pledged last month to hit zero net emissions by 2050. Qantas was Australia's 20th biggest emitter of "scope 1" carbon emissions (those created directly from a company's activity) within Australia in 2018, producing 4.3 million tonnes, according to the federal government's Clean Energy Regulator. Only power companies, gas and oil producers and steelmakers produced more. Qantas says its emissions will fall as it flies more efficient aeroplanes, such as Boeing 787 Dreamliners, which use 20 per cent less fuel than the Boeing 747s they replace. 6And more of its carbon emissions will be mitigated with "offsetting schemes" that either pull carbon out of the atmosphere or prevent it from being released. About 10 per cent of Qantas passengers pay to offset their own carbon contribution when they fly through these schemes, and from Monday the airline will match those contributions. Qantas' current offsetting projects include restoring wetlands and rainforest in far north Queensland, reducing the chance of wildfires in the North Kimberley and conserving 7000 hectares of Tasmanian forest which might otherwise be logged. However some scientists and environmentalists question the merits of land-based offsetting schemes, because they do not stop carbon entering the atmosphere in the first place. The company will also spend $50 million over 10 years on research and investment to help develop a biofuel industry in Australia. Alternative jet fuel, made from plants or other organic material, can cut emissions by as much as 80 per cent and are considered aviation's best hope of significantly reducing its contribution to climate change. But there is no commercial scale product available and the offerings that do exist cost almost double the price of jet fuel made from petroleum. The alternative fuel makes up 0.01 per cent of the global industry's fuel use today. The International Civil Aviation Organisation, the United Nation's aviation body, estimates that the industry's carbon emissions will at least double and could almost triple between now and 2050. Article 5 - A2 Milk boss Jayne Hodlicka exits job suddenly New Zealand Herald, December 9, 2019 https://www.nzherald.co.nz/business/a2-milk-boss-jayne-hrdlicka-exits- jobsuddenly/OJFJ6BATU6GNLVGSKICKMNSAHU/ Shares in alternative milk company a2 Milk had recovered some ground but were still weak after the surprise announcement that managing director and chief executive Jayne Hodlicka would step down, having spent less than 18 months in the job. By 12.30 pm the stock was trading at $14.69, down 48c or 3.1 per cent from Friday's close. The stock had opened sharply weaker at $14.00. Former chief executive Geoff Habides has stepped in as interim CEO commencing immediately, a2 Milk said. Mark Lister, head of private wealth research at Craigs Investment Partners, said the price fall was an understandable knee-jerk market reaction to the news. "I guess the negative reaction is the shock factor," he said. 7"You have got a stable management team but obviously something behind the scenes is not working as it should," he said. "I think that it's natural that the market shoots first and asks questions later, " Lister said. Hodlicka's departure will leave Spark's Jolie Hodson as the only woman in charge of an NZX50 company. The only other woman included in that list is Kate Mckenzie, who has already resigned and is set to leave Chorus at the end of the year. A source suggested there may have been concerns about the direction the company had taken under Hodlicka's tenure and her interaction with key stakeholders. That said, before today's news, A2's share price had risen 37 per cent in the past 12 months. Chairman David Hearn thanked Hrdlicka for the "important contribution" she had made to the company and that it remained confident that the strategic course outlined at the annual meeting would "continue to deliver strong rewards to all shareholders in the future". "The board recruited Jayne primarily for her ability and experience in developing and implementing strategy, recognising that the company needed to develop a refined strategy for the business to meet the new challenges in the next phase of our development. The board fully endorses the strategy which Jayne and the senior leadership team have developed," Hearn said in a statement. Hodlicka said in the statement: "The a2 Milk Company is an extraordinary business and I joined the company excited about the opportunity to help define its full potential and deliver against it. Board and management have worked closely together to chart the future and it is no doubt bright and we are well advanced in executing it. I am delighted with how much progress has been made, the momentum underway in executing the strategy and the strength of the current leadership team." "The reality, however, is that the next 3-5 years will continue to require the CEO being present in our core markets of China and the US and that combined with running a New Zealand company based in Australia required more travel than I had anticipated when I joined the company," she said. "The board and I agreed that this next phase is going to be too difficult to manage alongside my other commitments whilst also managing the health and wellness priorities of my family and me. "My passion and commitment to this great company is unchanged and I will, of course, work closely with the board and new CEO as required to ensure a smooth transition," Hodlicka said. Hodlicka received total remuneration of $2.23m in the 2019 financial year, according to the company's annual report. Hodlicka caused a stir last September when she sold about 340,000 shares in a2 Milk for a total of around $4.3m.Last month she sold a further A$2 million ($2.1m) worth of time-based share rights granted as compensation for the forfeiture of incentive entitlements from her former employer. Hodlicka was chief executive of the Qantas unit, Jetstar Group, for five years before she joined A2 Milk in July 2018. She still retains 95,338 shares in the company with a market value of approximately 85 per cent of her fixed annual remuneration before tax, as well as 410,099 performance rights received under the long-term incentive plans for the 2019 and 2020 financial years. Article 6 - 'Corporate suicide': Kogan faces backlash over $80m executive bonuses Sydney Morning Herald, November 19, 2020 https://www.smh.com.aw/business/companies/corporate-suicide-kogan-faces-backlash-over- 80mexecutive-bonuses-202011 19-p56g01.html Online retailer Kogan is facing significant backlash against a plan to grant its executives a $100 million-plus pay packet, with major proxy firms moving against the proposal and shareholders calling for regulatory intervention. The e-commerce business, whose shares have jumped more than 150 per cent this year, will ask shareholders at its annual general meeting on Friday to approve a one-off grant of 6 million share options to company founders Ruslan Kogan and David Shafer. The deal to award the shares was struck in May following a COVID-fuelled sharemarket rout, meaning the exercise price for the options is just $5.29 a share. At the time, the deal was less controversial as the company's share price and the value of the grant was far lower. However, Kogan's shares are currently trading around $18 after a COVID-19 induced online shopping boom, meaning the immediate 'in-the-money" value of the grant is about $80 million. In total, the options are worth some $112 million, which has drawn the ire of Australia's three major proxy advisory firms - CGI Glass Lewis, ISS and Ownership Matters - who have all recommended their clients vote against the proposal. The governance firms have primarily taken issue with the "excessive" value of the shares, along with the lack of performance hurdles associated with the grant. All Mr Kogan and Mr Shafer have to do to be awarded the generous fillip is to not resign by 2023. However, if shareholders block the proposal on Friday, Kogan's chairman Greg Ridder has vowed to find another way to award the executives their shares, either by buying them on- market or as a cash payment. CGI Glass Lewis has warned that if the board proceeded with that course of action it would be forced to recommend against the re-election of Kogan's directors at future AGMs as that would be a "governance failure". Activist shareholder Stephen Mayne, who has put himself up for election to the board at Friday's AGM, said the board's contingency plan could fall foul of corporate cop ASIC's rules 9on "reasonable remuneration", and called for the regulator to step in if the grant is not approved by shareholders. "It's imperative for ASIC to get involved here and make sure the directors are acting in accordance with their duties," he said. "The idea that you give away $80 million in value to satisfy a contract that's not legally approved by shareholders is staggering." Mr Mayne's board tilt has been given a rare tick from proxy firm ISS, which said the non- board supported nominee would increase the board's independence and the number of non- executive directors. Ownership Matters director Dean Paatsch said Kogan's share option proposal was the easiest "no" recommendation he had seen in years, but it would be up to Kogan's shareholders to decide. "Shareholders have the right to disapprove or approve this options grant. So it could be that on Friday, shareholders, for all their collective wisdom, decide that this is a good thing, " he said. "And if that's the case, so be it. You can't stop people committing corporate suicide." Kogan's board has argued the value of the grant is reasonable as neither Mr Kogan nor Mr Shafer have taken any other long-term incentives since Kogan's sharemarket listing in 2016. However, both founders have collectively sold over $350 million in shares. Mr Kogan is also a Rich Lister with an estimated net worth of just over half a billion dollars. Despite the numerous concerns, some shareholders may support the measure. Tobias Yao, a fund manager at Wilson Asset Management, said while he could see "both sides" of the argument, the fund would be voting in favour of the scheme. "Over the medium to long term, this will provide the best outcomes for Kogan shareholders, whereas the alternative could cause disruptions," he explained. "Ultimately, you do want to reward the management and show them that what they've achieved over the last few years, which has been incredible, has been rewarded." Similarly, James Davis, chief investment officer at DS Capital, said Mr Kogan and Mr Shafer had created an "enormous amount of value for shareholders"- "Their fixed remuneration is modest in this context, and as a shareholder I want them to be incentivised to continue to create value," he said. 1 10