Analysis of the Combined Code of Corporate Governance

Analysis of the Combined Code of Corporate Governance Corporate governance is the system or process by which companies are directed and controlled (Cadbury,1992,p.2) Good corporate governance should contribute to better company performance by helping a board discharge its duties in the best interests of shareholders; if it is ignored, the consequence may well be vulnerability or poor performance. Good governance should facilitate efficient, effective and entrepreneurial management that can deliver shareholder value over the longer term. The Combined Code on Corporate Governance (the Code) is published by the Financial Reporting Council (FRC) to support these outcomes and promote confidence in corporate reporting and  governance The Code is not a firm set of rules. Rather, it is a guide to the components of good board practice distilled from consultation and widespread  experience over many years. While it is expected that companies will comply wholly or substantially with its provisions, it is recognised that noncompliance may be justified in particular circumstances if good governance can be achieved by other means. A condition of noncompliance is that the reasons for it should be explained to shareholders, who may wish to discuss the position with the company and whose voting intentions may be influenced as a result. This comply or explain approach  has been in operation since the Codes beginnings in 1992 and the flexibility it offers is valued by company boards and by investors in pursuing better corporate governance. The Listing Rules require UK companies listed on the Main Market of theLondon Stock Exchange to describe in the annual report and accounts their corporate governance from two points of view, the first dealinggenerally with their adherence to the Codes main principles, and the second dealing specifically with non-compliance with any of the Codes provisions. The descriptions together should give shareholders a clear and comprehensive picture of a companys governance arrangements in relation to the Code as a criterion of good practice The reason for selecting this combined code on corporate governance as topic of research is that researcher is having a past experience of working with the organization and knows about the prows and corns of the business. 1.2 INITIAL REVIEW OF THE LITERATURE: Corporate governance is an institutional arrangement by which suppliers of finance to corporations assure themselves of getting a proper return on their investment(shleifer and vishney ,1997,p.737). Transparency and accountability are the most significant elements of good corporate governance.   This includes: the timely provision by companies of good quality information; a clear and credible company decision-making process; shareholders giving proper consideration to the information provided and making   considered judgements. The origins of the current Revised Combined Code stem from the report of the Committee on the Financial Aspects of Corporate Governance (the Cadbury Report,  1992) to which was attached a Code of Best Practice. This was further developed through a series of reworkings including those of the Greenbury Committee, which made recommendations on executive pay and a Code of Best Practice. It was then decided that previous governance recommendations should be reviewed and brought  together in a single code. The work was carried out under the chairmanship of Sir Ronald Hampel and culminated in the Final Report: Committee on Corporate Governance with its Combined Code on Corporate Governance in 1998.In 2002 Derek Higgs was asked to report on the role and effectiveness of non-executive directors. His report, published in January 2003, suggested amendments to the Combined Code. At the same time a committee under Sir Robert Smith reported on guidance for audit committees. The revised Combine d Code which was issued in July 2003 by the Financial Reporting Council (FRC) took into account both reports. The 2003 Code has been updated at regular intervals since then, most recently in June 2008. The 2008 edition applies to accounting periods beginning on or after 29 June 2008.The FRC undertakes regular reviews of the impact and continues to work effectively.According to Christine mallin(2007), Main principles of the Combined Code are: Directors 1 The board Every company should be headed by an effective board which is collectievely responsble for the success of the company 2 Chairman and chief executive There should be a clear divission of responsbilities at the head of the company between the running of the board and the executive responsbility for running of the companys business No one individual should comprise imaginative powers of decision. 3 Board balance and independence The board should include a balance of executive and nonexecutive directors (and, in pariticular, independent nonexecutive directors) such that no individual or small group of individuals can dominate the boards decision taking 4 Appointments to the board There should be a formal, rigarous and translucent procedure for the appointment of new directors to the board 5 Information and professional development The board should be supplied in a timely manner with information in a form and of a quality apropriate to enable it to discharge its duteis. All directors should be given induction on joining the board and should regularly update and refresh their skills and knowledge. 6 Performance evaluation The board should undertake a formal and thorough annual evaluation of its own performannce and that of its commitees and individual directors 7 Re-election All directors should be submited for re-election at regular intervals, subject to continued satisfactory performance. The board should certify designed and progresive refreshing of the board B Remuneration 1 The level and make-up of remmuneration Levels of remuneration should be sufficcient to attract, retain and motivate directors of the quality required to run the companys succesfully, but a company should avoid paying more than is neccessary for this purpose. A significant proportion of directors remmuneration should be structured so as to link rewards to corporate and individual performance 2 Procedure There should be a formal and transparent procedure for developing policy on executive remmuneration and for fixing the remmuneration packages of individual directors. No directors should be involved in deciding his or her own remmuneration C Accountability and audit 1 Financial reporting(Andrew tylecote and francsca visintin,2008) The board should present a balanced and understandable asessment of the companys position and prospects 2 Internal control The board should maintain a sound system of intarnal control to safeguard shareholders investment and the companys assets 3 Audit committee and auditors The board should establish formal and translucent arrangements for considering how they should apply the financial reporting and internal control principals and for maintainning an appropriate relationship with the companys auditors D Relations with shareholders 1 Dialogue with institutional shareholders There should be a discussion with shareholders based on the mutual understanding of objectives. The board as a whole has a responsbility for ensurring that a satisfactory dialogue with shareholders takes place. 2 Constructive use of AGM The board should use the AGM to communicate with investors and to encourage their participation. E Institutional shareholders 1 Dialogue with companies Institutional shareholders should enter into a dialogue with companies based on the mutual understanding of objectives. 2 Evaluation of governance disclosures When evaluating a companies governannce arrangements, particularly those relating to board structure and composition, institutional shareholders should give due weight to all relavant factors drawn to their atenttion. 3 Shareholder voting Institutional shareholders have a responsbility to make considered use of their votes. 1.3 RESEARCH PURPOSE: The research purpose is to analyse the impact of failures and weaknesses in corporate governance on the financial crisis, including risk management systemsand executive salaries. It concludes that the financial crisis can be to an significant level attributed to failures and weaknesses in corporate governance arrangements which did not serve their purpose to preserve against excessive risk taking in a number of financial services companies. Accounting principles and regulatory requirements have also proved insufficient in some areas. Last but not least, remuneration systems have in a number of cases not been closely connected to the strategy and risk craving of the company and its longer term interests. The article also suggests that the importance of qualified board oversight and robust risk management is not limited to financial institutions. The remuneration of boards and senior management also remains a highly controversial issue in many OECD countries. The current turmoil suggests a need for the OECD to re-examine the adequacy of its corporate governance principles in these key areas.( FINANCIAL MARKET TRENDS ISSN 1995-2864  © OECD 2008) All the UK reports and codes, including the 2003 Combined Code (the Code), have taken the comply or explain approach. Although only quoted companies (those with a full London Stock Exchange listing) are obliged to report how they apply the Code principles and whether they comply with the Code provisions and, where they do not, explain their departures from them. The Code has had a noticeable wider impact on governance of organisations outside the commercial corporate sector where parallel codes of governance are emerging. For a quoted company reporting on its application of the Code is one of its continuing obligations under the Listing Rules published by the UK Listing Authority (UKLA). If quoted companies ignore the Code, then there will be penalties under the Listing rules. The Code is divided into main principles, supporting principles and provisions. For both main principles and supporting principles a company has to state how it applies those principles. In relation to the Code provisions a company has to state whether they comply with the provisions or where they do not give an explanation. It is the Code provisions that contain the detail on matters such as separation of the role of chairman and chief executive, the ratio of non-executive directors and the composition of the main board committees. The first principle of the Code states that: Every company should be headed by an effective board. The boards effectiveness is widely regarded as a prerequisite for sustained corporate success. The quality and effectiveness of directors determines the quality and effectiveness of the board. Formal processes for appointment, induction and development should be adopted. Effectiveness of the board and its individual members has to be assessed. The Code states that no one individual should have unfettered powers of decision-making. It sets out how this can be avoided by splitting the roles of chairman and chief executive, and specifies what the role of the chairman should be. The Code offers valuable guidance on the ratio of non-executive to executive directors and definitions of independence.( http://www.frc.org.uk/corporate/combinedcode.cfm) . 1.4 OBJECTIVES: In the process of research the researcher has to find out the answers for the following questions: To understand how critical governance issues in a established organisation can be solved with optimized corporate governance To formulate an effective method of governing corporates especially at the time of crisis To find out how the country can overcome financial crisis in future with good corporate governance practice? 1.5 SCOPE OF THE STUDY: This research has some limits as the researcher has constraints of time and money. The information provided is of sample size. The research is done in India where the economy is developing. So the results vary from Indian developing economy and any other developed economy. The research is mainly concentrated in Hyderabad city so the research result would vary from that of any other city like Chennai, Mumbai, etc. The research is based on the information provided by SATYAM COMPUTERS on how it was bankrupted during financial crisis due to lack of proper governanace and financial reporting. So the result at the end of research will be useful for other companies inorder to benefit from the combined code of corporate governance. 1.6 RESEARCH STRATEGY: Research the word basically means search for information or data compilation. It mostly means to gather information concerning firm question and to build up a certain approach for that question. If there was no word called research all the scientific and social projects would have been resulted in deduction work and approximated data The approach the researcher would be using in this research is qualitative with an inductive outlook. Qualitative research is concerned with the growth of explanations, in order to know the reasons and motivations of social occurrence (Hussey Huseey 1997). The motto being to know the world in which we live in, by taking into account individual opinions, experiences and feelings According to Saunders et al (2003), in an inductive way; theory will pursue data rather than vice versa in the deductive approach. Induction emphasizes on attaining an understanding of the meanings human attach to events, it approves in the gathering of qualitative data and at last, unlike deduction which is a highly prearranged process, induction is a more supple structure which permits changes as and when the research progresses . Case study : A case study is research method to investigate the phenomenon of topic of research. In this case the researcher is looking at SATYAM COMPUTER SERVICES LTD.which is an IT firm and Collapse of SATYAM COMPUTERS at Indian Stock markets due to lack of proper corporate governance practice. In this research the researcher want to apply the combined code of corporate governance to other companies like SATYAM Grounded theory : Grounded theory is a procedure that is designed to generate a theory around the central theme of data. So this theory would help the researcher in doing his research. 1.7 DATA COLLECTION: Secondary Data The information that is previously available is called secondary information. It is using the study previously undertaken in a particular field so that one does not replicate it while conducting primary research. It is also very cost efficient and useful as this being a student project there are no funds at our disposal to conduct the research. It offers handiness and is easily accessible on databases and also on company websites (Wright and Crimp, 2000). It will be used widely while reviewing the literature on the recommended topic. Some of the secondary sources that will be used are academic journals like HR journals. Also with online information coming to age EBSCO Host and Keynote research reports and statistics issued by the Corporate Governance team in India will also be used. Finally, a number of accomplished authors have written ample on this subject, these books will also be consulted. The secondary research will be used effectively to provide a good background to instigate a good primary research. Primary Data Primary data will be collected through a sequence of recorded semi-structured interviews conducted by the researcher. Prior official authorization would be taken from those who would be interviewed. Semi-structured interviews are interviews where the interviewer would ask a set of questions to interviewees; these questions differ from person to person depending on that persons position with respect to the research. Though the general topic remains the same, some questions will be omitted and some others might be counting depending on who is being interviewed. For example, questions to an HR manager would revolve around how to cope with abrasion and the management view on how they are looking at this problem, on the other hand in an interview with the software engineers. 1.8 DATA ANALYSIS: The researcher understands all the data he would obtain would be based on meaning expressed through words, this kind of information is called qualitative data. The process of qualitative study involves the development of information categories, allocating units of the original information to apt categories and developing and trying hypotheses to produce well grounded conclusions. Now it is enormously important that all this rich data must be transformed to information the researcher could Comprehend and manage Integrate related data from different transcripts and notes Identify key themes or patterns from them to further explorationDevelop or test hypothesis based on these apparent patterns Draw and verify conclusions (Saunders et al, 2003) This researcher would be using Computer Assisted Qualitative Data Analysis Software, (CAQDAS), to assist him with making good sense of the data, there are various softwares available which would help the researcher, quantifying qualitative information if need be, thus making a hypothesis and arriving at a conclusion. 1.9 VALIDITY AND RELIABILITY: The question of reliability and validity of information in any research study is of highest importance. Unless the data obtained is consistent, correct conclusions cannot be drawn. In this study, the validity and reliability issues are associated to access to the correct people for interviews and to get the right information out of them. This will mean that the information should be balanced and unprejudiced. Interviewees should be able to provide the correct information linked to the subject without personal opinions or beliefs. This problem can be conquered to a certain extent by asking to the point questions and framing them up in such a way that eliminates capacity for bias. For this purpose, the researcher will spend quality time on designing good interview questions and will get them checked from a senior supervisor. The issue of access to the correct people for the data is also very important since the research will be based on the answers obtained from them. Another matter related to validity and reliability is the use of precise sources for obtaining secondary data. The researcher should gain contact to the right books, journals and articles for getting quality information about the topic. For this purpose, scholarly articles will be obtained from the library and internet. 2.0 ACCESS: The researcher was providential to have some significant contacts in the IT sector back in Hyderabad, India, this was partly because he was born and brought up there and also because he comes from a strong IT background both academic and professional. The researcher intends to conduct semi structured interviews with the following people. Ms. Pratyusha gogineni (HR Team, Satyam computers, Hyd) Mr. suma Kirthi (HR Team, Satyam computers, Hyd ) Mr. Madhusudhan Santhana (Project Manager, Satyam computers, Hyd) Mr. Prabhakar Govind (Analyst, Satyam computers, Hyd) Mrs. Amruta devi ( MD, HND Recruitment, Hyd ) The first member, Nandini is an old friend who had grown quite fast in the organization has been handling recruitments since the past four years; through her the researcher had got in contact with Mr. Kirthi, a senior HR manager who also assured official access. To get the other side of the story, the researcher has got in contact with Mr Santhana, who also is the researchers ex manager who used to work with SATYAM computers before. Mr Santhana promised he will do all he could to aid me with this research. Mr Govind along with a few of his colleagues would help in giving me the required information. The researcher intends to leave no stone unturned and would contact more people if need be to help him with this research.

Major Challenges Before Indian Economy Essay

This report  has been an honest and dedicated attempt to make the analysis on marketing material as authentic as it could. And I earnestly hope that it provides useful and workable information and knowledge to any person reading it. During this period, I had the pleasure of working closely with accomplished organization people who shared with me their experience and helped me in completion of my research. I express my sincere thanks to my project guide Mr. Pranav Nagpurkar Lastly I am grateful to my parents who been my mentors and motivators. I am also thankful to all my batch mates who have been directly or indirectly involved in successful completion of this project. Indian economy is the tenth largest economy in the world by nominal GDP and third largest by purchasing power. India is one of the G-20 major economies and member of BRICS. According to IMF India ranked 134th by nominal GDP on the basis of per capita income in 2012. Its GDP is about $1. 824 trillion and per capita income is about $1491. Its GDP contribution by sector wise is agriculture 17. %, industry 26. 4% and services 56. 4% in 2011. Its population is about 1. 2 billion and labour force is 498. 4 million in 2012. Labour force by occupation: agriculture 52%, industry 14% and services 34%. Unemployement rate in India is 9. 9%. Its investment is about 30% of GDP. Revenue of India is $171. 5 billion and expenditure over $281 billion. It has deficit budget of 5. 6% of the GDP. Main industries are textiles, chemicals, food processing, steel, transportation eq uipment, cement, mining, petroleum, machinery, software, and pharmaceuticals. Its export is about 309. 1 billion and import is about 500. 3 billion. The independence-era Indian economy (from 1947 to 1991) was based on a mixed economy combining features of capitalism and socialism, resulting in an inward-looking, interventionist policies and import-substituting economy that failed to take advantage of the post-war expansion of trade. This model contributed to widespread inefficiencies and corruption, and the failings of this system were due largely to its poor implementation. In 1991, India adopted liberal and free-market oriented principles and liberalized its economy to international trade under the guidance of Manmohan Singh, who then was the Finance Minister of India under the leadership of P. V. Narasimha Rao the then Prime Minister who eliminated License Raj a pre- and post-British Era mechanism of strict government control on setting up new industry. By 2008, India had established itself as one of the world’s fastest growing economies. Growth significantly slowed to 6. % in 2008–09, but subsequently recovered to 7. 4% in 2009–10, while the fiscal deficit rose from 5. 9% to a high 6. 5% during the same period. India’s current account deficit urged to 4. 1% of GDP during Q2 FY11 against 3. 2% the previous quarter. India’s public debt stood at 68. 05% of GDP which is highest among the emerging economies. However, inflation remains stubbornly high with 7. 55% in August 2012, the highest amotrade (counting exports and imports) stands at $ 606. 7 billion and is currently the 9th largest in the world. During 2011–12, India’s foreign trade grew by an impressive 30. 6% to reach $ 792. 3 billion (Exports-38. 33% & Imports-61. 67%). India has the world’s third largest road network, covering more than 4. 3 million kilometers and carrying 60% of freight and 87% of passenger traffic. Indian Railways is the fourth largest rail network in the world, with a track length of 114,500 kilometers. India has 13 major ports, handling a cargo volume of 850 million tonnes in 2010. India has a national teledensity rate of 74. 15% with 926. 3 million telephone subscribers, two-thirds of them in urban areas. But Internet use is rare, with around 13. 3 million broadband lines in India in December 2011. However, this is growing and is expected to boom following the expansion of 3G. * India’s current account deficit- The deficit has increased to a record 5. 6 percent of GDP in 2011-12, far above what the Reserve Bank of India considers to be a sustainable level, namely 2. 5 per cent of GDP. The key reason for the large current account deficit is the trade deficit increasing due to India’s relatively poor competitiveness and high dependence on oil and gold imports, which alone account for virtually half of total imports. Boosting merchandise exports through greater diversification across destinations and products are essential to bridge the trade deficit but this cannot be achieved without boosting labour productivity and enhancing transportation infrastructure, especially ports. With regards to gold, dematerialization, and introduction of inflation linked bonds would help reduce its physical imports of gold. Meanwhile, for oil, achieving greater energy efficiency, aligning domestic oil prices to international ones are a key or to find out different alternative/ substitute for it. * Qualitative and quantitative fiscal consolidation: Together with the current account deficit, the stubbornly high fiscal deficit (5. 8 percent of GDP in 2011-12) makes the Indian economy more vulnerable to shocks than most emerging markets. India’s twin deficits have adversely affected macro stability by pushing up inflation, undermining growth and leaving limited room for monetary accommodation. India’s fiscal policy has been too loose for too long. The government must focus on quality spending by channeling resources towards infrastructure and human capital investments while reducing unproductive spending, particularly on food, fertilizer and fuel subsidies. Furthermore, the government must implement revenue enhancing reforms by making the tax system more efficient and improving compliance. * Lowering high and sticky inflation- India’s persistently high inflation is fallout of myriad factors that are both cyclical and structural in nature. These include supply side bottlenecks, very high reliance on imported energy and lax fiscal policy. While a loose fiscal policy has boosted aggregate demand, particularly across rural areas, an enabling environment to enhance supply response is missing, thus aggravating inflation pressures. Containing inflation near the RBI’s comfort zone of 4 to 5 percent is crucial to facilitate sustainable growth. * Rebalancing the growth mix in favor of investment: India’s GDP growth is mainly consumption driven in good part due to consumption subsidies. Eliminating such subsidies will, thus, actually have three positive outcomes: reducing the fiscal deficit as well as excessive consumption which should also help reignite a virtuous savings investment cycle. In fact, since the global financial crisis of 2008-09, India’s savings rate has declined (to near 29 percent from a peak of 37 percent in 2009) amid high inflation and fiscal slippages. Given that India’s investment upturn during the golden years between 2004-2008 was largely financed by domestic savings, a revival in India’s domestic savings is critical for aiding a sustainable upturn in investment. In this regard, the Indian government needs to improve further on reforms execution and policy clarity so as to underpin foreign investor confidence. * Manufacturing sector- Being a primarily services driven economy, the share of manufacturing has been stagnant at a mere 16 percent of total GDP. India’s Asian peers, such as China, South Korea and Taiwan, have immensely benefited from a strong manufacturing sector, which enables greater employment creation, attracts higher and stable foreign direct investment and bolsters infrastructure development. However, bottlenecks in land acquisition, archaic labor laws, poor physical infrastructure, less favorable tax rules and tight regulations deter manufacturing sector growth in India. Reassuringly, the Indian government has approved a national manufacturing policy aimed to increase the manufacturing’s share in GDP from the current 16 to 22 percent in a decade and in turn create millions of jobs and add capacity to sustain the pace of economic growth. That said, effective implementation of such policy drive will clearly prove difficult given past records. Population- India’s population is about 1. 2 billion in 2012 which is a major challenge for the economy of India. For the developing countries like India, population explosion is a curse and is damaging to the development of the country and it’s society. The developing countries already facing a lack in their resources, and with the rapidly increasing population, the resources available per person are reduced further, leading to increased poverty, lack of food, malnutrition, and other large population-related problems. The literal meaning of population is â€Å"the whole number of people or inhabitants in a country or region† , and the literal meaning of population explosion is â€Å"a pyramiding of numbers of a biological population†. As the number of people in a pyramid increases, so do the problems related to the increased population. The main factors affecting the population change are the birth rate, death rate and migration. The birth rate is the ratio between births and individuals in a specified population and time. The death rate is the ratio between the number of deaths and individuals in a specified population and time. Migration is the number of people moving in (immigration) or out (emigration) of a country, place or locality. Immigration from the neighboring countries of Bangladesh and Nepal is also one of the causes of increasing population in India. The Population density (people per sq. km) in India was last reported at 411. 89 in 2010, according to a World Bank report published in 2012 which is very high. Measures to overcome from it. For limiting the population increase and we have to spend money on controlling the birth rate. Some of the programs have been successful, and the rate of increase has also reduced, but has still to reach the sustainable rate. The major factors affecting the population increase of India are the rapidly increasing birth rate and decreasing death rates. We can follow strict birth control measures like China to decrease the birth rate, but we cannot go and decrease our technological advancements to decrease the death rate. Thus, our main emphasis falls on decreasing the birth rate. Several government-funded agencies like the Family Planning Association of India spend hundreds of thousands of dollars on promoting family planning. These organizations aim to promote family planning as a basic human right and the norm of a two-child family on a voluntary basis, to achieve a balance between the population size and resources, to prepare young people for responsible attitudes in human sexuality, and to provide education and services to all. The family planning methods provided by the family planning program are vasectomy, tubectomy, IUD, conventional contraceptives(that is condoms, diaphragms, jelly/cream tubes, foam tables) and oral pills. In addition, induced abortion is available, free of charge, in institutions recognized by the government for this purpose. However, the success of the family planning program in India depends on several factors like literacy, religion and the region where the couple live. * Poverty- It is a situation in which a person is unable to get minimum basic necessities of life, i. e.. food, clothing and shelter for his or her living. In economic terms they are called poverty ridden and are people living below poverty line (BPL). MASS POVERTY: When a large section of the people in an economy is deprived of the basic necessities, that economy is said to be in mass poverty. Since it is the responsibility of the state to remove poverty, it has to take certain steps. -Developing an appropriate mechanism to identify the poverty – ridden people. -Estimate the total number of poverty-ridden persons with the help of that mechanism. In the first approach, expenditure incurred by a family on various items is used. In the second, the income earned by a family is used.

Definition and Examples of Writers Block

Dantes Motivation to Write The Divine Comedy Essay

Dantes Motivation to Write The Divine Comedy (La Divina Commedia) To truly comprehend Dante’s Divine Comedy, although complete comprehension is not necessary to enjoy this literary masterpiece, there are several skills one might need to acquire. For instance, one helpful piece of knowledge would be the ability to fluently speak Italian, since the many translations differ being able to have read Dante’s actual written words and understand them would make reading the Divine Comedy a bit more personal and therefore easier to understand. To catch and understand the plethora of references and allusions made by Dante it would aid any reader with their findings to be accompanying their reading of the Divine Comedy with a reading of†¦show more content†¦What made her special enough to have a 967 page poem about her? Where did she belong in the vast life of Dante? Why has Dante chosen to paint this truly heavenly picture of her? How did she react to this? â€Å"The historical Beatrice was very probably Bice, daughter of Falco Po rtinari,† (Madelbaum [IN] 320) so in reality â€Å"Beatrice† or Bice was really just a childhood neighbor of the Alighieri, who Dante says he, â€Å"immediately felt the foce of love for her upon first glance.† (Alighieri [VN] 37) However love at first sight is hardly the case here. They first laid eyes on each other at age nine, Dante being several months older then Bice, however the twist comes when it isn’t until almost nine years after this event the first words are finally spoken between the two. Soon after this event the heavenly Bice married, not Dante, but Simone di’ Bardi and then, sadly, died at a very young age. What is it exactly that would make Dante write such an epic piece about someone who he never really knew too well? It is said that, â€Å"After the death of Beatrice, Dante entered, belatedly but voraciously, a period of philosophical study. 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