Compare the use of language of the two editorials Essay

Analyze the utilization of language in the two publications, considering specifically how far the way that they were composed at various occasions is reflected in the language of the two messages The two writings are amazingly differentiating in their utilization of language and it is clear from the dates that they were composed with regards to why this is the situation. The primary article was distributed in The Daily Mirror (broadsheet) in 1912 and depends on the deadly debacle of the Titanic. The subsequent publication was imprinted in The Sun (newspaper) in 1999 and remarks about the train wreck that happened in the channel burrow. The graphological highlights of every content are very contrasting, despite the fact that the two of them have the talk structure of an article. The Titanic article’s text is part unevenly into five conjoined, long passages and is of a somewhat littler textual style, yet additionally includes essentially more words, demonstrating a progressively complex peruser. In examination the article on the train mishap has almost no content and highlights each sentence to be a different passage, reproducing the organization of a rundown/visual cues. This makes the content significantly more open to the peruser as it can speak to a more extensive scope of brains and age bunches while thinking about crowd. The article on the Titanic’s just typographical variety of text style is the strong, promoted and focus underlined title â€Å"one contact of nature† and furthermore the dropped capital of â€Å"Draughtsmen† to start the publication, indicating that the piece is very good old in style as a dropped capital is an exceptionally conventional procedure that goes back to religious community composing. The article in The Sun anyway depicts significantly increasingly typographical variety as the start, center and end sentences/words are in a bolded, underlined textual style and the â€Å"Why† for each question just as the title â€Å"The sun says† and the â€Å"The† to start the article are likewise all bolded and promoted to include accentuation and center significance and consideration. There is likewise an emphasized sentence that claims â€Å"this is plainly not true†, this has in all probability been stressed to emphasize the purpose of influence into concurring with The Sun’s in general sentiment, as this isn't a reality so it must be identified with for it to pick up status as a legitimate feeling. The utilization of ‘Chunnel’ toward the finish of The Sun’s article, is a mix word comprised of the two words ‘channel’ and ‘tunnel’, showing a progressively present day, exceptional crowd. The Daily Mirror article is very expressive and is substantially more formal in tone, mimicking he account of a story as it continues in sequential request, alluding to the fiasco in a lovely way while utilizing long perplexing and compound sentences to draw in the peruser and upgrade idealism, driving the peruser to feel as though they were really present at the time as they are taken through this excursion. Each sentence is especially all around made and exact to likewise additionally epitomize that of a story, as there is no immediacy and the words set up to catch feeling have been all around organized and made. The ‘story’ is part into four phases of the excursion, the first being the arranging of the boat, the second its genuine structure, the third the starting of the Titanic and the fourth the sinking. Despite the fact that the ‘sinking’ of the Titanic should be the primary subject of the article as it is the end, stunning outcome, there is no sign of this when perusing the piece and simply in the wake of having perused the whole article does the title ‘one contact of nature’ appear to fit. This might be for generally speaking effect and to encapsulate the ‘story’ like structure as without previously established inclinations the peruser would not realize this was to be the result. There is a procedure of parallelism in the principal article which makes up the second section with the sentence ‘work of the trained hand was to follow work of coordinating mind’ making a fair sentence. There is likewise the abstract utilization of alternate extremes (direct opposite) supporting the idea that the content is very much made with the sentence ‘A changeless populace is designated to live here, with the changing travelers prepared to start the voyage†¦ ‘ the contrary words being ‘permanent’ and ‘changing’ as they compare one another. The jargon utilized is incredibly obsolete in nature e. g. ‘At once, with imposing clamor of ringing blow’ and this is fortified all through with the high detail of depiction, while in The Sun (the later dated paper article) it is demonstrated that the fundamental spotlight is on the genuine issue within reach and that turns into the full body of the content, there is almost no portrayal to help it and the reason and subject is misused instantly. The article from The Sun is incredibly condemning of the fire in the Channel Tunnel and looks to point fault, going about as though it was someone’s shortcoming while in the article on the Titanic, the deficiency is by all accounts ‘our stepmother nature’ of whom is a characteristic event so no fault can truly be set up. The Sun seems to accuse everything except for nature †‘The train’, ‘Eurotunnel’, ‘the driver and train chief’, ‘the staff in general’ and ‘the complex ventilation system’. The Sun’s article depends on a ‘near disaster’ where nobody kicked the bucket or went to any prompt mischief and it recognizes this inside the article ‘happily, everybody endure †yet it could all have been so unique. ‘ Yet its general quality exemplifies a ‘angry/heated’ tone. While, in the article dependent on the Titanic, despite the fact that masses of individuals kicked the bucket, there was no accuse coordinated and it was only acknowledged as ‘nature’s doing’. Nonetheless, this enormously thinks about the period that the article was composed as of late, individuals have been attempting to discover fault for this incredible fiasco and making presumptions of poor craftsmanship and so on, so perhaps at the time that the article was distributed (1912) individuals were less prepared to point fault and additionally tolerating of what they were told. The Sun appears to request responds to through facetious inquiries (e. g. the steady and bolded utilization of ‘why’ to feature six primary inquiries, adopting an exceptionally immediate strategy and utilizing a significant open battling perspective) and continues to amass the peruser into posing these inquiries themselves through its high utilization of influence and aggregates. For instance, ‘the one thing everybody feared†¦ Yet, we were assured†¦ ‘, ‘the open deserves†¦ ‘, these sentences are convincing and attempting to draw in the peruser using possessive pronouns ‘we’, ‘our’ and aggregates ‘everyone’ and in any event, remarking that the open ‘deserves’ a clarification, taking a very close to home yet very casual tone to associate with the peruser and join with their clear perspectives. The opening, second heading ‘Black Hole’ is a play on words/allegory which additionally closes the article and shows how paper title texts are composed right now (they must be infectious, short and are for the most part in some type of a quip) instead of when The Daily Mirror article was composed as the heading imitates a story like title. Generally speaking, the language and strategies utilized in every article incredibly feature and depict their varying distributed occasions and in spite of the fact that their subjects are very comparative, the depiction of each is altogether different through various parts of language and lexical change.

Curriculum Essay Example | Topics and Well Written Essays - 2500 words

Educational plan - Essay Example Imprint Smith (1996) is one of the scholars who examined different meanings of educational plan as portrayed by numerous educationalists. He depicted educational program in a scope of approaches. One of them is connected to prospectus or a collection of information to be transmitted to the understudies. Smith additionally focused on that educational plan is a lot of destinations, where there is an attracted up plan to apply expected goals with a quantifiable result. Another elective definition is that educational plan is a student’s complete encounter. It contains teachers’ and students’ correspondence and connections between them. Smith likewise prescribes that educational plan is one’s capacity to apply hypothesis to rehearse. Language Arts is one fundamental branch of knowledge that sharpens relational abilities of understudies. Being educated in writing, language structure and composing is one significant objective for them that will enormously profit them in their development and advancement. This paper will look at seventh Grade Language Arts educational program aides of three area schools in New Jersey, specifically the Hillside, Union and Orange Public Schools. The examination might be founded on the aides gained from these schools and not from how their educational plans are actualized. Of the three schools, Hillside Public School gave the most thorough educational program manage. Next was the Orange School which likewise gave an unmistakable layout demonstrating the objectives of the Language Arts program and how its appraisal systems. Association School gave the least far reaching guide, with simply the utilization of prompt words in listing its educational program content and recommended exercises. Socioeconomics The locale of Union had the greatest populace at 62,629 followed by Orange at 31,165 and Hillside at 21,229. Of these populaces, Hillside had the most elevated number of offspring of young (5-17 years) at 18.27%, firmly followed by Union at 16.01 % and Orange at 15.29%. Association had the most elevated number of Caucasians at 71.15%. Slope had 30.64% and Orange had the least number at 9.72%. Its greater part is the Black populace at 72.96%. Slope has 53.3% portion of the Black populace and Union had minimal number at 4.95%. Slope had the most elevated populace of Hispanics at 79.60%. Orange just had 19.73% followed by Hillside at 17.86%. Slope had the most number of proficient individuals with 83% secondary school graduates followed by Orange at 77.1%. Association had 64.4% secondary school graduates. With school graduates, Hillside has the most elevated number again having 23.2% alumni, trailed by Union at 17.3% and Orange at 16.6%. Association had 49.54% of its kin communicating in one other language other than English. Slope and Orange are intently tied at 19.04% and 19.85% individually. As far as family salary, Hillside had the most elevated middle family pay at a normal of $73,816.00. Orange follows at $48,873.00 and Union at $41,988.00. Reliably, Hillside had the most reduced destitution at just 9.6%. Orange has 16.5% and Union had the most noteworthy destitution at 19.6%. (New Jersey School District Demographic Characteristics, 2013). Educational program structure (Understanding by Design versus Pacing guide) One of the broadly received educational program configuration is the ‘Understanding by Design’ Planning Framework (UbD) by Wiggins, Grant and McTighe (1998). This is otherwise called the Backward Design Model wherein the instructor begins with the end, the ideal outcomes, and afterward gets the educational plan from the proof of learning called for by the desires and the instructing expected to prepare understudies to

Blog Archive MBA News MIT Sloans Class of 2015 Just Got More Competitive

Blog Archive MBA News MIT Sloan’s Class of 2015 Just Got More Competitive Last week, the Wall Street Journal  online published an article about MIT Sloan’s miscalculation for the incoming Class of 2014 (“Bad Math:   MIT Miscounts Its New B-School Students”).   A little background first:  A school has a target class size (Sloan’s is about 400), and it has an applicant pool from which to choose people to fill that class (Sloan had more than 4,000 applicants for its 2014 class). The challenge for a school is to predict what percentage of the admitted candidates will choose to come to that school, a percentage referred to by the b-school admissions teams as the yield. Here is what happened at Sloan. Sloan’s Class of 2014 yield was higher than the admissions team had expected. Rather than expand its class size to accommodate everyone who had decided to attend, Sloan asked for volunteers to defer school for a year and ultimately offered up a one-time partial scholarship (to the tune of $20K) to entice a few more students. What does this say about MIT Sloan?   A few things. First, Sloan is clearly a school that is committed to the community feel that its smaller class size fosters. Rather than risking a change to the school’s culture, Sloan passed up on tuition dollars that would have come in this year and even paid some folks to wait for a year. That is how important the culture is at Sloan. Second, although you cannot claim a trend based on one year, if Sloan underestimated the yield, perhaps Sloan is gaining popularity with applicants. Already in the top five according to some rankings surveys, Sloan continues to shine for its emphasis on innovation, collaborative teamwork and leadership. What does this mean for you? Well, because Sloan has already guaranteed some of the spots in its 2015 class, it means fewer spaces will be up for grabs during the current application cycle. This can be intimidating given that, according to U.S. News World Report’s 2013 Best Business Schools Rankings, Sloan accepted only 13% of applicants in a recent application year. Do not let this stop you from applying, though. At the end of the day, whether the school has a 13% acceptance rate, a 25% acceptance rate or a 1% acceptance rate, your application strategy should not change. Commit yourself to developing the most compelling application possibleâ€"essays that showcase the “real” you, a strong GMAT score, a robust and accomplishment-driven resume, recommendations from people who can give evidence of your leadership, etc. This is your best defense against competitionâ€"and perhaps, in this case, miscalculations. By Liza Weale, mbaMission senior consultant. To sign up for a free 30-minute consultation with Liza or any other mbaMission consultant, please visit www.mbamission.com/consult.php. Share ThisTweet Massachusetts Institute of Technology (Sloan) News

E-Commerce Buying and Selling Online Essay examples

What is E-Commerce you ask? Well E-Commerce is the term that is used when referring to any business, or commercial transaction that involves transformation across the internet. In today’s world the internet is almost essential for anything you have to do especially shopping. There is not a successful company in America that does not use the ecommerce system in some type of way. For example have you ever shop online may be you have heard of Craigslist, EBay, Eastbay, or even Amazon all these or successful because of their ability to buy and sell online. There are many more business out their like this but this are just a couple of popular ones. How did ecommerce get started you asked? Well ecommerce has been around for about 40 years now.†¦show more content†¦Goods can be anything from pizzas to toys, dresses, apparels, shoes you name it, and everything is included. E-commerce offered many advantages to companies and customers but it also caused many problems. Some adv antages of e-commerce are choice and convenience. E-commerce is convenient for most people because they don’t live next door to most of the shops in the world. It is also convenient because you don’t have to walk around different shops all day to find the product you want. With e-commerce comes with a more variety than just being in the store. For example, before e-commerce became widespread you would have to go to a store and look at about 20 products and that was it. Now you can go on an e-commerce website and there are hundreds of different products to look at. Although e-commerce is a good opportunity for businesses, there are also some downsides such as lack of human contact, delivery, and security issues. Some customers are less likely to purchase online because they cannot speak to anyone from the business. Also customers worry of buying clothes online as they cannot try them on before they buy. Security is perhaps the biggest worry for customers. Customers wor ry that their financial details will not be safe and that the company will use them in an unauthorized way. In a traditional shop or store, customers have the option toShow MoreRelatedcustomer behaviour1489 Words   |  6 PagesAAP E-COM P 1st Introduction to E-Commerce What is Electronic Commerce? Commerce - The exchange of commodities, buying and selling, of products and services requiring transportation, from location to location is known as commerce. E-Commerce - From a communications perspective, e-commerce is the delivery of information, products/services or payments via telephone lines, Fax, computer networks or any other means. What is Electronic Commerce? From an online perspective, e-commerce providesRead MoreE Commerce : Buying And Selling Of Products1148 Words   |  5 PagesThe buying and selling of products and services by businesses and consumers through an electronic medium, without using any paper documents. E-commerce is widely considered the buying and selling of products over the internet, but any transaction that is completed solely through electronic measures can be considered e-commerce. E-commerce is subdivided into three categories: business to business or B2B (Cisco), business to consumer or B2C (Amazon), and consumer to consumer or C2C (eBay). also calledRead MoreEmerging Trends of E-Commerce1054 Words   |  4 PagesPROLOGUE What is E-commerce? The world is moving from the traditional economy that stressed on physical manufacturing of goods to the new economy which concentrates more on knowledge and information than anything. Electronic commerce or e-commerce is an important facet in this regard. E-commerce brings forth a tougher business competition, creation of new marketplaces, faster speed of transactions, and rapid growth in technologies. E-commerce can be generally understood as a terminology to denoteRead MoreE Commerce, B2b And B2c1301 Words   |  6 PagesI. Introduces the E-commerce, B2B and B2C 1. E-commerce E-commerce stands for Electronic commerce and it is the process of buying, selling or exchanging products, service or information across the Internet. E-commerce not only buying and selling of products and service, but also servicing customer, collaborating with business partners, and conducting electronic transactions within an organisation. 2. B2B e-commerce B2B stands for Business-to-Business, which is the transactions between businessesRead MoreDesigning An E Commerce Solution Evaluation Essay1624 Words   |  7 PagesIntroduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Types of E-commerce†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. E-commerce in use by organisations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦... Financial implications†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Designing an e-commerce solution†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Evaluation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Introduction. Many businesses have shown that after implementing an e-commerce system into their companies, sales have increasedRead MoreWhat Is E Commerce?1215 Words   |  5 PagesWhat is E-Commerce? Electronic trade, otherwise called E-Commerce is business exchanges led electronically on the web. E-commerce was presented in the 1960s through an electronic information exchange (EDI) on quality included systems (VAN). Numerous block – and – mortar retailers that were working out of physical structures lost business to online organizations, for example, Amazon, and EBay. Thus, e-commerce has developed throughout the years; organizations from Walmart to little one individualRead MoreE-Commerce: Its Development and Future Perspectives754 Words   |  3 PagesE-COMMERCE: ITS DEVELOPMENT AND FUTURE PERSPECTIVES E-COMMERCE Manzoor and Amir defined E-commerce as the buying and selling of goods and services via electronic means such as the internet. The e-commerce is generally efficient due to its availability throughout where the buyers meet the sellers online. Some services rendered to customers via e-commerce service include: automated data collection systems, mobile commerce, supply chain managementRead MoreE-business: Easy Learning Outcome1588 Words   |  7 PagesChap14: E-Business Multiple Choice 1. What is the buying and selling of goods and services over the Internet? A. E-business B. E-commerce C. E-market D. E-mall Ans: B Level: Easy Learning Outcome: 14.1 Response: This is the definition of e-commerce. 2. What is the conducting of business on the Internet, not only buying and selling, but also serving customers and collaborating with business partners? A. E-business B. E-commerce C. E-market D. E-mall Ans: A Level: Easy Read MoreE Commerce Vs. Electronic Commerce1527 Words   |  7 Pagesto define the definition of E-commerce. For example, according to the Oxford Dictionary, E-commerce or electronic commerce is the commercial transaction that conducted electronically on the Internet. Some people define E-commerce as the processes of buying, selling, or exchanging products, services, and information by using the computer network technology such as the Internet. E-commerce does not only provide the function of buying and selling goods and services online via digital mediums such asRead MoreEssay On E-Commerce Trends734 Words   |  3 Pages2017 e-commerce-trends-in-2017 Finally, 2017 is here, so what exactly your e-commerce growth plans are and what e-commerce trends do you need to stay on top of? Are you planning to expand the product categories, revamping or redesigning your website or going international? Whatever the plans are, keep in mind there are some of the biggest e-commerce trends we are going to expect in 2017. Let’s read on to find out some trendy e-commerce tricks for online merchants to build a user-friendly e-commerce

Kill A Mockingbird By Harper Lee - 1243 Words

There was a copious amount of discrimination in the 1930’s deep south, whether it be racism or sexism. In To Kill a Mockingbird by Harper Lee, conflicts arise when an African-American man is unjustly accused of raping a white woman in the sleepy town of Maycomb, Alabama. Citizens of the town are forced to choose whether they believe to follow what the rest of the town thinks, whether that is their true opinion or not, and be honest with themselves and stand up for who they really think is innocent. However, as shown throughout the book, many people have trouble publicly announcing their opinions on the matter, choosing to convey their opinions in more subtle ways. Because of different occasions that question people’s morals and virtues†¦show more content†¦When he talks about Atticus, instead of calling him an offensive name like he did Tom Robinson, he says â€Å"...that he was a Christ-fearing man and Atticus Finch was taking advantage of him.† (202) Mr. Gilmer, the prosecutor, is also trying to discourage Tom by acting better than him. When it is time for Tom Robinson to step up to the witness stand, he is berated with questions by the attorney Mr. Gilmer. However, Mr. Gilmer phrases his questions in a way to make Tom Robinson feel bad about himself. One of the questions he asks Tom Robinson is, â€Å"Were you so scared that [Mayella]’d hurt you, you ran, a big buck like you?† (225) Mr. Gilmer is acting condescending and disdainful because through his tone and way of speaking, he is implying that Tom Robinson is a mentally weak man who cannot even stand up for himself. However, he acts very different around Mayella, asking â€Å"â€Å"Where were you at dusk on that evening?† began Mr. Gilmer patiently.† (204), showing that Mr. Gilmer does have space in his mind to make room for kindness. Unlike these two men, who are unkind towards Tom Robinson, Mr. Link Deas tries to stand up for him. When Atticus is questioning Tom Robinson, Mr. Link Deas stands up and shouts, â€Å"That boy’s worked for me eight years an’ I ain’t had a speck o’trouble out of him. Not a speck.† (222). Mr. Link Deas shows integrity because even though other people are not treating Tom Robinson the right way because he is a Negro, he still tries to stand up for Tom.

The Gift Of The Magi - 1022 Words

In discussing Marxist literary criticism Peter Barry states, â€Å"So instead of seeing authors as primarily autonomous ‘inspired’ individuals whose ‘genius’ and creative imagination enables them to bring forth original and time-less works of art, the Marxist sees them as constantly formed by their social contexts in ways which they themselves would usually not admit† (Barry 152). His claim is certainly evident through a careful analysis of O’Henry’s short story. The Gift of the Magi appears to be a bittersweet story about a couple that would truly give up their most prized possessions to convey their love to one another at Christmas. However, a Marxist approach to the tale reveals the complexities of a capitalist society and the materialism surrounding the Judeo-Christian holiday of Christmas. Through the characterization of the married couple, Della and Jim, as well as the overall theme of love, a Marxist literary analysis exposes the superstructure of gift giving and the materialistic aspects of love and Christmas tradition. Marxist criticism unveils the effects of capitalism on Christmas traditions through the characterization of Della and Jim. From the story’s introduction, Della is characterized as a poor wife in a tearful frenzy to buy her husband the perfect gift for Christmas: â€Å"Only $ 1.87 to buy a gift for Jim. Her Jim. She had had many happy hours planning something nice for him. Something nearly good enough. Something almost worth the honor of belonging to Jim†Show MoreRelatedThe Gift Of The Magi1132 Words   |  5 PagesThe Magi refers to the Wise Men or Kings in the Gospel of Matthew and Christianity. They visit Jesus after his birth and bring gifts of gold, frankincense, and myrrh to him. Also, they are important figures of celebrations of Christmas. Christmas gifts are precious, so people want to receive the most valuable gifts at the end of the year, such as the gift of Magi. A famous American writer O. Henry creates The Gift of The Magi, a short story of giving gifts on Christmas Eve, which is a common themeRead MoreThe Gift of the Magi1271 Words   |  6 PagesThe Gift of the Magi Ashlee Stevens ENG125: Introduction to Literature Amy Sloan September 10, 2012 Ashford University The Gift of the Magi The Gift of the Magi was about sacrificial love. The story explained how important it is to be willing to sacrifice for the one that you love. No matter what the circumstance, if a person can unselfishly give of themselves for another, they can experience life in a whole new way. Many people give what is not important to them andRead MoreThe Gift of the Magi2202 Words   |  9 PagesThe Theme of â€Å"The Gift of the Magi† William Sydney Porter, or O. Henry as it is widely known, is one of the most famous names in American literature. He was a master short-story writer of nearly 300 short stories. With a very inventive mind, he made plots for his stories from the commonplace things. The settings of his stories were drawn from his experience and, likewise, his characters were based on actual people he had known. In rapid-moving prose, he developed his stories imaginatively andRead MoreThe Gift of the Magi1377 Words   |  6 PagesLITERARY ANALYSIS ESSAY THE GIFT OF THE MAGI The Gift of the Magi is one of the most popular short stories by O. Henry, a pen name for William Sydney Porter - a renowned American author. Originally published in 1906, in O. Henry’s second collection of short stories, The Gift of the Magi which displays all of the major O. Henry traits in abundance has given him credit for his genuine talent. It has been retold in various forms since then, especially at Christmas time. The storyRead MoreThe Gift Of The Magi853 Words   |  4 PagesHow far can a couple go in getting a gift for their love ones on Christmas day? â€Å"The Gift of the Magi† is mainly about a young married couple who doesn’t have enough money to buy each other Christmas gifts. Having only one dollar and eighty-seven cent Della, one of the main character, decides to sell her hair for only twenty dollars. This gives Della an opportunity to buy her husband, Jim a gift. Meanwhile, Jim who also is buying Della a present is having trouble with mo ney, he decides to sell hisRead MoreThe Gift of Magi and Its Background792 Words   |  4 PagesThe Gift of the Magi and its Background Mindy Phillips Introduction to Literature ENG125 Instructor Julie Alfaro January 21st, 2013 In my paper I am going to be describing the short story The Gift of the Magi. Throughout my paper I am going to describe what I feel is the theme of the story itself. I will also be explaining and identifying symbolism used and described in the story, as well as talking about the point of view that the narrator used in the story. Finally, I will be describingRead MoreEssay on The Gift of the Magi4446 Words   |  18 Pages Many critics agree, â€Å"The Gift of the Magi† is, in all respects, an amazing and one of a kind story. One critic says, â€Å"Ironically, Fagin arrives at something utterly crucial to the success of The Gift of the Magi: that it has everything—an absorbing (if short) narrative drive and a twist ending that makes it wholly original† (Korb). Even renowned critic, Rena Korb, agrees; O.Henry did an excellent job with this story. Though O. Henry wrote many great stories, one of his most famous, and favoriteRead MoreThe Gift Of The Magi Analysis 808 Words   |  4 PagesAuthor, O. Henry in his short story, â€Å"The Gift of The Magi†, claims it is okay to sacrifice for others. He supports his claim be first using a logical appeal to show Della’s self sacrifice, then using another emotional appeal to show Della and Jim’s love for each other, and finally using a logical appeal to show Jim’s sacrifice for Della. Henry’s purpose is to inform others about Della and Jim’s sacrifice in order to show that it is okay to sacrifice for others. He establishes a sad and wonderfulRead MoreSummary â€Å"the Gift of the Magi†1235 Words   |  5 PagesSummary â€Å"The Gift of the Magi† â€Å"The Gift of the Magi† is a wonderful short story. It is the brilliant story that shows the true meaning of selfless love that the author tries to let the readers to know from the Christmas gifts. It is not what the gifts are , but the meaning behind the gifts is more important. This text is a story about Della and Jim Young , a married couple with very little money. On theRead MoreThe Gift of the Magi Argument Paper1344 Words   |  6 PagesThe Gift of the Magi Argumentative Research Paper: Did Jim and Della perform an act of Selfless Love? Abstract The story was written by O’Henry in 1906. The story was centered around a seemingly poor couple who did not have enough money to buy each other the gifts that their significant other deserved. The story took place during Christmas. The Gift of the Magi is like a classic wisdom story in the bible. O’Henrys choice of title depicts symbolism between the three magi that brought gold, frankincense

Corporate Finance Horseshoe Corporation

Question: Discuss about theCorporate Financefor Horseshoe Corporation. Answer: Introduction:- Horseshoe Corporation is planning to issue the fresh capital by issuing common stock. Initial public offering is a difficult process. The corporation is intending to make the public issue and the desired process for issuing the shares is underwriting cash offer. The company shall appoint the underwriter in accordance with the Maldives stock exchange. If the entity is to underwrite the issue, then there is a need on its part to furnish the financial capabilities to purchase the shares. The corporation underwriting should be an institutions that is duly authorized to underwrite the securities by capital market development authority. Underwriting Cash Offer for Raising Equity Capital:- If the company is making the public issue through the process of book building, the issue needs to be underwritten by the runner of books. The corporation needs to enter into the underwriting agreement with the book runner and subsequently the book runner would enter into the underwriting with the syndicate members. The corporation should also indicate the number of securities to be issued in the event of the description in the issue of the shares and specify the predetermined price. If the syndicate members do not fulfill the underwriting agreements, the runner of book shall fulfill the obligations of underwriting. The syndicate member and the book runner shall not subscribe to the issue except the manner for fulfilling the obligations of underwriting. Before the opening of the bids, the copy of the agreement with the syndicate members shall be filed with the boards. The lead book runner or the merchant banker shall undertake the underwriting obligations in the event of every underw ritten issue. This has to be done as per the specification of the Maldives stock exchange. The obligation of underwriting will be for the entire hundred percent of the offer through the document. This should not be restricted to the minimum subscription level (Fernando et al., 2015). In case of right issues if the company once announced the rights issue could not cancel it except with the permission of Maldives stock exchange. The permissions will be granted by the stock exchange except in the case where trading has not taken place between the date on which the right issues has been announced and on the date on which the variation or cancelation is made (De Carvalho et al., 2015). The cost of underwriting is most important item in the total initial public offering cost .The shares issued as an underwriting cash offer and the entity having the underwriting services would be able to build the relationship that would help in improving the probability of securing the current and future business with the firm. Cost reduction under underwriting are more pronounced as the financing cost are reduced. The relationship between the underwriter and the entity receiving the underwriter services will help in reducing the cost of financing by way reducing the fees (Dubovyk Chala, 2013). The company gets the assurance of the success of issue as the underwriter takes over the risk of uncertainty of the public issue of shares of the company. They play and active role in underwriting of the shares of the public corporation. Issue of Shares by offering Rights to Shareholders:- Another mode of equity financing is to offering rights to the current shareholders directly. In such procedure, companies offer its current shareholders to purchase the new shares directly in proportion to the numbers of shares, held by the individual shareholders. The new shares are offered the shareholder at lower rates in comparison to the prevailing market price. The existing shareholders are not obliged to accept the offer. Moreover, they are free to trade the newly acquired shares in the stock market (Fong Lam 2014). Companies use to follow this practice for various reasons. By offering rights to the existing shareholders directly, the company can reduce the cost of issuing new shares and do not have to bear any underwriting fees for the same. In the time of economic depression, the investors do not want to invest in new stocks. The underwriting agencies also ignore to take risk of selling of new shares. In such circumstances, raising equity capital through offering rights to existing shareholders can be proved very beneficial (Massa et al., 2013). However, it has been noticed that sometimes this procedure may create negative impact in the market. The stakeholders of the company may think that the financial condition of the company has become unstable and therefore, it is offering its new shares at a discounted rate. Moreover, if most of the existing shareholders would sell their shares in the market, then the value of the outstanding shares would be diluted. It may affect the current market price of the price quite significantly (Holderness Pontiff 2016). Recommendation:- The primary objective of Horseshoe Corporation is to raise equity capital. The corporation can fulfill its objective either by underwriting cash offer or by offering rights to existing shareholders. However, the corporation may not be able to sell all the new shares to its existing shareholders, as; many of them may not accept the offer. Whereas, in underwriting cash offer, if the underwriter cannot sell all the shares in public, then the company may force the underwriter to purchase the balance number of shares through firm commitment deal (Chen Wu, 2015). Hence, it can be stated that if the corporation wish to raise capital only, then the underwriting cash offer will be more preferable and secure. However, the management of the company wants to maximize the wealth of the current shareholders as well. In that case, if the corporation issue new shares through underwriting cash offers, then, as discussed earlier, the value of the current shares will be diluted and the stock market price of the company will fall downwards (Ginglinger et al., 2013). On the other hand, if the existing shareholders accept the rights, offered, and do not re-sell the rights in the market, then the market price of the stocks will not be affected so highly. Moreover, as the numbers of shares under each existing shareholder will increase, they will get higher amount of dividends. Hence, it can be stated that if Horseshoe Corporation wish to fulfill both the objectives, then it should offer rights to its existing shareholders, as through this process it can raise capital, as well as, maximize the current shareholders wealth. References:- Chen, H. C., Wu, S. C. (2015). Who Makes the Choice on IPO Underwriting Methods? Issuers Versus Underwriters.Financial Management,44(4), 753-783 De Carvalho, A. G., Amaro de Matos, J., Pinheiro, D. B., Mello, M. (2015). Conflicts of Interest in the Underwriting of IPOs and Price Stabilization Dubovyk, S., Chala, Y. (2013). A conceptual model of the optimal underwriting contract choice by the issuer developing. -, (11-12 (1)), 106-109 Fernando, C. S., Gatchev, V. A., May, A. D., Megginson, W. L. (2015). The Value of Reputation: Evidence from Equity Underwriting.Journal of Applied Corporate Finance,27(3), 96-112 Fong, W. M., Lam, K. C. (2014). Rights Offerings and Expropriation by Controlling Shareholders.Journal of Business Finance Accounting,41(5-6), 773-790 Ginglinger, E., Matsoukis, L., Riva, F. (2013). Seasoned equity offerings: Stock market liquidity and the rights offer paradox.Journal of Business Finance Accounting,40(1-2), 215-238 Holderness, C. G., Pontiff, J. (2016). Shareholder nonparticipation in valuable rights offerings: New findings for an old puzzle.Journal of Financial Economics,120(2), 252-268 Massa, M., Vermaelen, T., Groen-Xu, M. (2013). Rights offerings, trading, and regulation: A global perspective

QUALITIES OF SUCCESSFUL MARRIAGES

Communication Good communication is important in any marriage in order for it to succeed. Good communication helps to avoid all forms of disrespect between the parties. Such forms of disrespect have been referred to as disrespectful judgments.Advertising We will write a custom essay sample on Qualities of successful marriages specifically for you for only $16.05 $11/page Learn More They include ridiculing, sarcasm, making statements in a judgmental way or making false accusations. In other words, proper communication is qualitative (Hampson, Prince, Beavers, 2007). Good communication may also be quantitative in that, having meaningful conversations with your couple several times in a day or week means that the marriage would be more successful than those not having enough dialogue as couples. Good dialogue may also occur as couples engage in other activities. For example, couples may engage in meaningful dialogue while they help each other in doing the house chores, while taking a stroll or driving around. I have personally watched how my parents maintain conversations almost everywhere they are. This has improved their relationship and has positively influenced me too. I plan to emulate them and make communication a vital tool in my relationships. Empathy and sensitivity For couples to have successful marriages, they need to be able to identify with the thoughts and feelings or even the attitudes of their partner. This would mean that they would have affective sensitivity towards each other. When one empathizes with the other, one would be able to put him or herself in another’s shoes and subsequently be in a position to willingly respond to the partner’s needs. Sensitivity is also a great virtue in marriage since it helps a person understand the needs of the partner.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More I have learn t a lot about sensitivity and empathy in marriage from the many visits I have made to my aunt and friend’s place. The way the couples understand each other’s issues and help themselves out has made me learn a lot and want to change some of my previous views and perceptions. Spirituality and values Spirituality and values are essential for any marriage if it is to succeed. Marriages built on firm spiritual values grow exponentially and the couples experience lasting happiness. Faith makes great differences in marriage and this is why it is very important to share your individual beliefs and values with the partner prior to marriage in order to understand each other and plan how the two of you will live with them. When partners in marriage have different spiritual values, it is almost certain that at some point in marriage, they will have trouble coping with each other. It is important for couples to share the same faith and have the same values. I recently learnt that a Christian friend of mine married an Indian woman. It has just been a few months now and they are filing for a divorce. This was mainly because of their differences when it came to values and spirituality. This has encouraged me to consider spirituality and values of the other partner before I can decide to settle. Commitment Commitment is usually a high priority in marriages and especially in the Christian society. Many couples have the misconception that marriage vows lead automatically to a happy marriage and a perfect union of intimacy.Advertising We will write a custom essay sample on Qualities of successful marriages specifically for you for only $16.05 $11/page Learn More What they fail to understand is that after marriage, many challenges come and it is not always rosy. This calls for the need for commitment. Violating the marriage vows usually lead to consequences. In most cases, when one partner violates that commitment in marriage, it is cons idered as unforgivable. This is because vows are involved in marriage as opposed to relationships where such activities that violate commitment may be forgiven. I have always appreciated the amount of commitment shown by my parents and this is evident in their many years of marriage. Therefore, I intend to make commitment a priority in marriage since this is what couples are intended to do after making vows. Companionship Companionship is vital in any marriage that seeks to make it a success. It involves the partners sharing their lives together on a day-to-day basis. Couples need to share their dreams and at the same time walk along each other to realize those dreams. As companions, couples need to work towards common goals. They should therefore share similar interests and in the event that their objectives are achieved, they should share the joy of victory. However, the grief of failure should also be shared and the couples should see themselves through the difficult moments. Som etimes in the life of couples, changes occur and due to unavoidable circumstances, they are forced to engage in different activities that have different timings.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More This makes them lose track of each other’s activities and with time, may realize that they have nothing or little in common. The best way to combat this is by maintaining the love relationship on a day-to-day basis. This is possible through the maintenance of communication. If face-to-face communication is difficult to maintain, then making phone calls may do. I have learnt a lot in the way my parents have managed to maintain their love relationship even when they are far from each other and I definitely intend to emulate this. Adaptability and flexibility Adaptability and flexibility is another aspect that is important in marriage. Couples need to think about each other and not only worry about oneself. These qualities enable a partner in the relationship to change some of the activities that one intended to do in order to put the considerations of the other in mind. This would call for the partner to look for alternatives but still focus on achieving the same set goals. I h ave seen my father forgo some of his activities in order to cater for my mother’s needs first then get back to what he was doing. This way, I have learnt that in a relationship, a partner should not consider his own priorities first but also think about those of the other partner. I intend to make important considerations about my partner’s ideas when making decisions in the future. Honesty, trust and fidelity Honesty and fidelity must be observed in relationships in order for the marriage to be successful. When honesty and fidelity is observed, this leads to trust. In marriage, just like in any other relationship, trust is earned (Stinnett, Carter, Montgomery, 1972). Marriage partners should be faithful to each other since they swore to do so. My parents are my role models since they have built their marriage on trust and honesty. It is through trust that they have been able to maintain their love relationship over the years. I intend to maintain fidelity and remain honest to my partner in marriage. Responsibility One big issue in marriage life is the issue of responsibility. This governs the day-to-day life of the couple. Each partner has specific responsibilities to attend to outside the household but those within the household are usually delegated. Sometimes it is done equally but in most occasions, one partner usually takes a greater role. Delegation of responsibilities should be done in a fair manner in order not to overburden one partner. At home, I think my mother does most of the household activities. I understand that my father is usually busy with the office work but I think it would be fair if they shared some of the household responsibilities. I intend to change this in the future by helping out in most of the work in the house. Unselfishness Couples should avoid selfishness in marriage. This calls for each partner to forget self and direct all the life of the couple for the good of the whole family. Selfishness yields to the denia l of the other partner’s rights in the marriage and in most cases leads to unhealthy marriages or even divorce. My parents are good examples of couples who are not selfish. Both my parents usually share a lot and do not do things that favor one partner over the other. I intend to take from them on this issue. Admiration and respect Good marriages are fueled by great chemistry. This calls for mutual admiration and respect. The value that one places on the partner’s special abilities makes the partner feel appreciated and loved. Without this, one would not have confidence upon the opinions they bring forward. When one partner respects the other’s opinion, then communication will be developed (Murstein Beck, 1972). Showing admiration for your spouse is important to boost their self-esteem and make them feel appreciated. I admire my parent’s for the way they show admiration for each other and respect each other. I would like to develop such a relationship in the future. References Hampson, R., Prince, C., Beavers, R. (2007). Marital therapy: Qualities of couples who fare better or worse in treatment. Psychotherapy Counseling, 25(4), 141-190. Murstein, B. Beck, G. (1972). Person perception, marriage adjustment, and social desirability. Journal of Consulting and Clinical Psychology, 39(3), 396-403. Stinnett, N., Carter, M., Montgomery, J. (1972). Older Persons’ perceptions of their marriage. Journal of Marriage and Family, 34(4), 665-670. This essay on Qualities of successful marriages was written and submitted by user Aiyana Hurst to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Legalize divorce Essay Example

Legalize divorce Essay Example Legalize divorce Essay Legalize divorce Essay Technically speaking, divorce by definition nullifies marriage. For me, it defeats the purpose of getting married. In a wider sense, I do not approve of divorce because there is annulment and I believe it is enough if marriage is not working between the couple. Divorce would be the primary hindrance in promoting family values. The problem is women and children are constantly getting abused, so if that is the case, will separation be enough? I believe if we really want to end the problem regarding abuses, we should rather penalize the wrong actions. But most of all, uplifting morals ND values would be the long term key towards this problem. According to my interviewee, divorce nullifies the whole sanctity of marriage. It completely eradicates the peoples values and it makes people vulnerable for the fact that it makes people lax that there will always be a way out of a marriage, by this; divorce is foreseen as a solution to every marriage problem there is present. I believe that the sanctity of marriage should be kept, but what about those people who are in an abusive relationship? Will we let him or her be stuck in a marriage she/he is not happy in? I tryingly believe that marriage makes the world go round. It is the happiness to both couples ( at least for starters). And it completely sacrifices the single lives of both couples. This single life is more often than not missed by both of them, that is why there is a presence of a little bit of resentment. I believe that it has been the case ever since marriage and commitment is invented. Commitment is a big thing and as click © as it may possibly sound, commitment is big responsibility. It does entail having a big responsibility because it makes use of commitment and love with one another.

Bi-species Culturalisation Experiments Essay Example | Topics and Well Written Essays - 1500 words

Bi-species Culturalisation Experiments - Essay Example It not only helped the Bonobos to construct sentences but also helped them to develop a skill in grammar. Verbs Adverbs and Adjectives helped the Bonobos to use the forms of grammars just like the human beings can. As in the video, Pambanisha declared the caretakers as "bad", for playing a trick with Liz. It clearly illustrated that even chimpanzees can use grammar like the human beings. If given proper guidance the chimpanzees can work as they are asked to and can understand the language of the human beings. This experiment was a remarkable effort by Dr Sue Savage Rumbaugh in finding the effect of lexigram boards on the chimpanzees and clearly illustrated the intellectual power of the monkeys. The English grammar used by the monkeys showed that they can understand what they were being taught. At times the monkeys even reacted to whatever they were asked to do. This was an example of the intellect in the monkeys. The experiment clearly showed that Bonobos not only comprehend the huma n language but also act according to the instructions given. Pambenisha didn't go out for several days and thus was exhausted and sick of the environment. This forced her to do things which were quite unusual and unexpected but were of a great importance. To express her feelings, Pambenisha took a piece of chalk and started writing with the chalk on the floor. Firstly in the video it is shown that Pambenisha is writing quite far from Dr Sue but after a while when she realizes that Dr Sue is not paying attention to her writing she moves a bit closer to Dr Sue. And Pambenisha starts writing again near Dr Sue. This shows that Pambenisha is trying to express her feelings and inner emotions to Dr Sue. And when Dr Sue realized that Pambenisha was writing something on the floor she took a great notice. Upon findings it is known that Pambenisha drew an A-frame. This A-frame is meaningless if the lexigram board is not reviewed. The lexigram describes the A-frame drawing as 'a hut in the woods'. This shows that Pambenisha was interested in going out so mewhere to another place. Pambenisha does not stop writing over here and she again draws 'a flat rock' which according to the lexigram board is a place in the woods. And she writes further on the floor to express her feelings. This time she draws a 'collar' which she usually wears when she goes out. This clearly illustrated that Pambenisha was interested in going out to the hut in the woods. The drawings were not drawn as perfectly as in the lexigram board. But it can be clearly understood what Pambenisha means if the drawing is analyzed carefully and compared to the lexigram board. This writing of Pambenisha taught her a new way through which she could express her inner feelings and communicate with others. According to Dr. Sew the best possible way to make someone learn is not to teach them, instead of using the language around them. The curiosity to do the same what your beloved is doing, leads to the learning of new things. 3. What is the significance of the Bonobo's use of tools to our investigation of language origins Dr Sue's analysis has been of great significance and has brought revolution in the communication between a man and a chimpanzee. It has given a new birth to the language origins. It has derived many

Film Essay Example | Topics and Well Written Essays - 500 words - 15

Film - Essay Example Working in film industry can be very stressing and many times demanding. One is normally expected to film for long hours and likewise spend time away from home. This is where I score most for I am always available whenever needed. This has made me achieve a lot and make a lot of strides in the film industry. My passion and personality of patients has likewise blends well with the industry. Film requires patients and most importantly asking question and consulting a lot. The industry is very dynamic and with patience, one is always in a position not only better himself but help build the industry through continuous consultation. Despite the fact that very little is today documented about this hero, Martin Scorsese still remains to be my main role model in the film industry. Through critical analysis, every filmmaker from back in the 70s has been influenced in one way or another by this genius in various different ways. I have also admired the manner in which he merged quality and content. This makes him stand out. This man’s path to growth in film industry also inspire me a lot and I always feel that I can learn a lot from him still. In spite of this, there are various reasons that make me admire film industry in many ways. Key among them is that film offers one with practical skills like no other. Film industry is always a continuous learning process that equips learners with real time practical skills. The unique skills are the same skills that are needed to make it in the industry and career growth. Second reason why I admire film industry so much is the fact that the industry is worldwide. The excitement enjoyed by film personalities in my country is a diversion enjoyed by many other people around the world. This implies that the industry is wide and there are a lot of opportunity for growth and competition this makes the

External And Internal Determinants Of Capital Structure Finance Essay

External And Internal Determinants Of Capital Structure Finance Essay 1: Introduction 1.0 Introduction The literature on capital structure theory has made significant progress after the trend setting publications of Modigliani and Miller in1958. After the publication of Modigliani and Miller research work, various researchers have developed theoretical models based on the balancing of tax effect and inefficient distribution of information. Recently, there are many models that focus on the relationship between product and market or the effect of a particular ownership structure on the capital financing decisions of a firm (Bhaduri 2002). These models have been developed pertaining to many different sectors of economy such as manufacturing by Long and Malitz (1985) and Titman and Wessels (1988). Miller and Modigliani (1966) tested these models in the context of power generating and electric companies, while Jensen and Langemeier (1996) have focused on the agricultural firms. Among the noteworthy models proposed by researchers, the static trade off theory carries the primary importance. Modigliani and Miller (1958) contended that the static trade off theory is based on the assumption of friction and information-wise perfect markets. They also proposed the irrelevance theorem which implies that the financing decisions of firms have nothing to do with the value of organisation and their cost of financing. Titman and Wessels (1988), Rajan and Zingales (1995) and Graham (1996) have conducted their empirical research to investigate the important determinants of capital structure proposed in the theoretical models by finance commentators. In the majority of research, they found that firms decisions to achieve the target capital structure are spontaneous. In the imperfect market, these target ratios are not instantaneous and incomplete while in perfect market, these financial decisions are perfect and spontaneous. It means that firms try to adjust their optimal capital structure spontaneously as the cost of capital varies in the market. Marsh (1982), Jalilvand and Harris (1984) found that the main impediments in the way of adjusting capital structure are the adjustments and transaction cost associated to market imperfections. These imperfections arise due to the inefficiencies in financial market such asymmetric distribution of information and transaction cost etc. These researchers have found that the firms financial decisions usually taken in a two step process. Marsh (1982) and Jalilvand and Harris (1984) explained that in the first step, a firm decide its target capital structure and in the next phase, it strives to attain that target. Spies (1974), Taggart (1977), Jalilvand and Harris (1984) and Ozkan (2001) stated that financial behaviour of a firm can be best described by the partial adjustment model. In this partial target adjustment model, it is assumed that a firm adjusts to the target capital structure spontaneously. One common attribute in the research is that the capital structure of a firm varies with the change in industry type. Even after the efforts of numerous researchers, no single universally accepted capital structure theory exists. There are also a comparatively small number of empirical researches conducted up till now on this topic. One possible reason for the small number of empirical research is the intangible and conceptual nature of determinants proposed by the authors (Titman and Wessels 1988). However, the available empirical research has focused on certain factors such as the size of firms; profitability and volatility of earnings before interest, tax and depreciations etc. These determinants came out after the studies conducted in the developed countries such as the United States (USA) and the United Kingdom (UK). After the integration of markets, it is becoming increasingly more important to study these markets to test the validity of these determinants. Because of the confl icting ideas pertaining to the financial behaviour of firms, it is important to have practical research based on theoretical foundations to establish a valid capital structure determinant model. 1.1 Objective This research paper will endeavour to determine the factors which serve as an impetuous for changing the capital structure of firms across the different industries operating in the United States of America (USA). The main objective of this research will be achieved investigating the relationship between following determinants; Capital structure and profitability Capital structure and tangibility Capital structure and economic growth of the country Capital structure and rate of inflation Another objective is to find and evaluate the impact of internal forces which play an important role in changing the capital structure of a firm. Literature Review: 2.0 Introduction This chapter attempts to establish the theoretical foundation of determinants of capital structure. First of all, the effect of different industry types on the capital structure has been given. Then the different capital structure theories have been described. After that, all the possible external and internal determinates of capital structure has been discussed. Lastly, the latest development in the macro and micro environment, which have significant bearing on the capital structure of a film, are discussed 2.1 External and Internal Determinants of Capital Structure In this time of financial distress, where many companies are facing impending bankruptcy because of the liquidity crunch and mismanagement of resources, it is imperative for financial managers to use the optimal mix of debt and equity in order to drive down the cost of capital and thereby increasing the profitability of their firms. Another impetuous for using optimal mix is that the financial analysts, investment houses, common stock buyers and bond rating bureaus usually compare the financial leverage of a firm with industry average figures before taking investment decisions (Moyer et al. 2009). Hence, it is in the very interest of a firm to decide its optimal capital structure in order to make its financial health more conducive to further investment by yielding handsome returns (DeAngelo and Masulis 1980). As per definition, capital structure of a firm is the mix of the total long and short term debt plus the total amount of equity (both preferred and common) which is raised by a company to finance its total capital requirements (Investopedia 2009). According to Brigham and Ehrhardt (2001), there are many internal and external factors which a financial manager has to be mindful of before chalking out business plans and policies. Similarly, decisions of capital structure are the outcome of many internal and external variables (Brigham and Ehrhardt 2001). External variables consist of many macroeconomic factors such Gross Domestic Product (GDP), unemployment, inflation, interest rates and tax policies etc (Besley and Brigham 2007). GDP is the accumulated market worth of finished goods and services produced within the boundaries of a country during a particular period of time, usually one year (Investopedia 2010). Nominal GDP (inflation not adjusted) should not be confused with real GDP (inflation adjusted) as the increase in nominal GDP (merely increase in prices) doesnt mean that country has made more money during a certain period (Investopedia 2010). Inflation means the rate of increase in the prices of goods and services over a period of time, usually measured by the Consumer Price Index (CPI) and GDP deflator (a ratio of nominal and real GDP) (Investopedia 2010). Some other important variables of macro economy are the economic growth, budget deficit and poverty. These macroeconomic factors indicate the aggregate economic performance of an economy (Investopedia 2009). As these macroeconomic factors are the result of many sub factors which collectively make a very complex economic system (Campbell, McConnell and Brue 2008). These factors, by nature, are out of the control of a firms manager so he/she cannot influence the determinants. They instead have to adjust the proportion of debt and equity according to their respective costs. Some other important external variables which affect a specific capital structure are the taxation, profitability, the interest expense, the effect of agency cost and the level of business risk faced by the company (Moyer, McGuigan and Kretlow 2009). Besides these external variables, there are many internal factors which a business manager has to consider before selecting a particular mix of debt and equity. These internal variables can be the industry specific variables such as the effect of seasonal levels of sales or these can be the internal to the firms such as the style and attitude of management. Entrepreneurial organisations, for example, have the tendency of taking bolder and riskier business decisions as compared to bureaucratic ones which shows more risk-averse behaviour. Among the most prominent internal variables are the level of profitability, degree of risk appetite of business managers and the tangibility of fixed assets etc. 2.2 Effect of industry type on the capital structure of a firm There are a lot of variations in the capital structure of firms across the different industries all over the world (Scott and Martin 1975). Capital structure of firms varies with the change in type of industries and even within the same industries (S. Titman 1984). It is evident from the Table 1 that the firms which are operating in the drugs and industrial machinery sector do not use a large amount of debt as compared to firms which are in the retail and utilities business (Brigham and Ehrhardt 2001). Some possible reasons are the uncertainties inherent in the research projects carried out by these firms or the chances of product liability law suits (Brigham and Ehrhardt 2001). Due to the low level of debt financing, these firms are also experiencing low level of financial distress (i.e. the times interest earned ratios are high) as compared to the other sectors as shown in table 1 (Brigham and Ehrhardt 2001). However, the firms which belong to the utilities sector usually rely heavily on debt financing which is evident from their common equity ratio as shown in table 1 (Brigham and Ehrhardt 2001). The major portion of total debt comprises of long term debt which they usually raise by issuing securities and mortgage bonds against their huge fixed assets (Brigham and Ehrhardt 2001). Another rational behind this phenomenon is the stable sales figures as compared to the other firms which have volatile sales (Brigham and Ehrhardt 2001). This factor enables these types of firms to use more debt financing because they can easily forecast the expected level of future sales and can have an optimal business risk (Brigham and Ehrhardt 2001). 2.3 Theoretical Foundations of Capital Structure Franco Modigliani and Merton Miller (famous as MM) (1958) are pioneers, having studied the impact of internal and external determinants on the capital structure of an organisation (cited in Bhaduri 2002). In the years since, there has been a large volume of research by many researchers to determine the individual effect of these environmental factors on the capital structure of a firm in different countries of the world (Al-Najjar and Taylor, 2008). Modigliani and Miller proposed that in a supposed no-competition world, the value of a firm is independent of its capital structure (cited in Bhaduri, 2002). Further they also assumed that their theory is valid under the assumptions of perfect competition, no taxation cost, not transaction cost. They also stated that the productivity of firms is not dependent on mode of financing (cited in Bhaduri, 2002). In the above mentioned scenario, internally generated sources of funds are almost the perfect substitute of external funds (Bhaduri, 20 02). Hence, companies are indifferent to the sources of financing. After the publication of their work, researchers have found some imperfections such as Kim (1978) introduced the idea of bankruptcy cost. The idea of facility of tax shield was introduced by DeAngelo and Masulis (1980) and the agency cost by Jensen and Meckling (1976). All these researchers agreed that the optimal capital structure is the most realistic solution to the capital structure dilemma faced by the todays firms. As the cost and benefits of leverage changes from one industry to the other, many previous researchers are of the opinion that industry must have significant impact on the capital structure of firms (Scott and Martin 1975). Every firm tries to chase the average industry ratios (Tucker and Stoja, 2007). Ang (1976) said that firms can only have an optimal gearing ratio rather an ideal universal ratio for all in the real world scenario. Remmers et al. (1974) agreed with the Ang (1976) by stating the gea ring ratio of firms varies with industries. They also said that firms that belong to the same industries face same environmental conditions which lead them toward common earning and sales patterns (Remmers, Wright and Beekhuisen 1974). Scott (1972) and Scott and Martin (1975) said that most of the firms tries to choose the gearing ratio that is appropriate to their risk/return profile and their inherent business risks. Antoniou et al. (2002) found that the UK, German and French firms continuously adjust their debt ratios according to the target ratio, but at their own rates which is contingent to whether they belong to the manufacturing or services sector. Bradley, Jarrel and Kim (1984) said that the agency cost and bankruptcy cost are just the partial determinants of leverage. It means that these factors also have impact on the capital structure of firm but in a less likely fashion. Many researchers endeavoured to tackle the issue of optimal capital structure (Bhaduri 2002). All these works have collectively contributed in the development of financial theory (Bhaduri 2002). In spite of all these efforts, there is no one comprehensive solution to the capital structure dilemma (Titman 1984). Moreover there have been very little practical evidence regarding determinants of capital structure till recently (Harris and Raviv 1991).The main reason behind this limited number of empirical research evidence on this topic is the abstract nature of determinant such as size of firms, their growth rates, intensity of capital, gross profits, volatility of future sales and free cash flows and the impact of taxation on changes in the capital structure of a firm (Harris and Raviv 1991). Another important issue is pertaining to the geographical locations that most of the available research works have focused on the United States of America (USA) market (Bhaduri 2002). Less economically developed countries (LEDCs) lag behind due to the neglected role of the private sector in the economic development of country and the limited sources of funds for the companies belonging to the LEDCs (Bhaduri 2002). 2.4 Main Factors Influencing the Capital Structure of a Firm The chief determinants of capital structure are the attributes and factors that have very significant impact on the leverage ratio of a firm. The following is the detail of the most relevant determinants of capital structure of a company. Asset Structure According to the agency cost and asymmetric information theories, the composition of tangible assets owned by a company greatly affects its capital structure (Jensen and Solberg 1992). Agency cost theory states that shareholders of a firm, which has high proportion of debt in its capital structure, have the intention to invest sub-optimally (Galai and Masulis 1976; Jensen, Solberg and Zorn 1992). A positive relationship has also been found between the collateralisable assets and debt structure of a firm. Another factor is the over consumption habit of business managers which ultimately reduces the value of a firm (Bhaduri 2002). Financial Distress If a firm is using a huge amount of debt and it has to pay heavy payments periodically, there is very high probability that it will go bankrupt in the case of falling revenues or future free cash flows (Brigham and Ehrhardt 2001). This implies that the firms, which are having volatile sales figures, usually use less debt financing in order to avoid probable financial distress (Ensen and Meckling 1976). Fear of bankruptcy forbade the firms to rely heavily on the debt financing (Bhaduri, 2002). Non-Debt Tax Shield DeAngelo and Masulis (1980) said that one of the firms objectives of using debt financing, is to avail the benefit of a tax shield because interest expense reduces the taxable income of a firm. So the firms which have a large non-debt tax shield are likely to use less debt financing. Size There are is large number of evidences that the firms which are large in size and well diversified are less likely to experience financial distress (Demsetz and Lehn 1985, Remmers, Wright and Beekhuisen 1974). This encouraged them to use relatively large amount of debt financing (Warner 1977; Ang and McConnell 1982). Age The age of firm is also a very pertinent factor that influences the firms decision about having a specific of capital structure (Scott 1972). Young firms are more intended to use debt financing because of the high appetite for risk taking and limited amount of information at hand (Scott 1972). So they find borrowing from banks a cheaper and convenient way as compared to use equity financing. Growth Fast growing firms experience a higher cost of agency problem as compared to the firms which not growing very fast. Bhaduri (2002) said that fast growing firms have more chances of adjustments in the coming years. Hence there is a negative correlation between the longer term debt and the future growth of a firm. Myers (1977) said that the short term debt is the remedy to this problem. By doing this, fast growing firms dont need to enter into long term debt contrast and can easily adjust their capital structure according to the requirements of growth and financial conditions (S. Myers 1977). Profitability If managers of a company are not capable and credible enough to convince venture capitalists to lend capital, they will preferentially rely on the internal sources of revenue (e.g. retained earnings) (Myers and Majluf 1984). Myers and Majluf (1984) noted that profitable firms usually have more money as retimed earning in order to invest in the growth projects. Hence there must be negative relationship between debt proportion and historical profitability of the company (Myers and Majluf 1984). Uniqueness It is found that the firms which are producing unique kind of products usually have low leverage ratio (Bhaduri 2002, Antoniou, Guney and Paudyal 2002). These firms face great difficulty in borrowing debt from the financial institutions because in case of liquidation, their assets cant be used for some other substitute purposes (Auerbach 1985). Industry effect It is one of the most important variables that affect the capital structure of firms (Harris and Raviv 1991). The companies which belong to those industries where there is greater degree of uncertainty in the research projects and expected future sales, they rely less on debt financing (Remmers, Wright and Beekhuisen 1974). Contrary to this, the firms which have more level of certainty in their future cash flows and huge amount of fixed assets, they intended towards more debt financing (Remmers, Wright and Beekhuisen 1974). Maksimovic and Zechner (1991) said that the diversity of technologies used by firms is also the key determinant of using their capital structure. They argued that the firms which are using multiple technologies have the facility of sourcing capital from various sources of financing (Maksimovic and Zechner 1991). Where these firms can raise their funds from multiple sources, they can also reduce their risk by spreading over the wide range of technologies (Maksimovi c and Zechner 1991). 2.5 Most Important Capital Structure Theories 2.5.1 Static trade-off theory This theory of capital structure assumes that company should pursue a financing mix where tax shield advantage should be equal to the interest rate expense, keeping the other factors constant such as credit crunch and probability of bankruptcy costs (Jensen and Meckling 1976). This theory mainly deals with the pros and cons of issuing fixed asset securities like debt (S. Myers 1977). It assumes that there exists an optimal point under which the value of the firm is maximized. This optimal point is achieved by balancing the benefits and cost of issuing more debt (Myers 2001). One of the main advantages of issuing more debt is to take the benefit of tax deductable. This simple benefit can be more complicated when manages and owners have to pay personal tax and the issue of an absence of tax shield (Myers 2001). Debt financing also reduces the chances of agency conflict (Maksimovic and Zechner 1991). The rational is that the use of debt reduces the amount of free cash flows at the dispo sal of managers and there reducing the chances of conflict between managers and shareholders (Jensen and Meckling 1976). 2.5.2 The Trade-Off Theory of Capital Structure The basic idea behind this theory is that a firm normally conducts the cost-benefits analysis before taking any decision regarding its capital structure (Tucker and Stoja 2007). It means that company will just rule out the possibility of convenience in this important financial aspect as stated by the pecking order theory (Jensen and Meckling 1976). In spite of criticism by Miller (who called it a comparison of horse and rabbit), the advanced dynamic model of this theory is very robust and practical (Tucker and Stoja 2007). 2.5.3 Pecking order theory The pecking order theory talks about the cost of asymmetric information (Myers and Majluf, 1984). It says that firms choose their sources of financing according to the rule of least effort or least resistance (Myers and Majluf 1984). This implies that the firms will choose the equity financing as a financing mode of last resort (Myers and Majluf 1984). According to this theory, firms will prefer debt financing as long as it is feasible and when it is no longer possible, then they will opt for equity financing (Myers and Majluf 1984). 2.6 Capital Structure and Financial Risk The Financial risk of a firm is the risk associated with a lack of a sufficient amount of future free cash flows in order to meet its short term obligations (Brigham and Ehrhardt 2001). In other words, financial risk also increases as the use of fixed income securities increases like preferred stock increases in the total financing of the firm (Harris and Raviv 1991). Brigham Ehrhardt (2001) asserted that as the amount of debt increases in the overall mix of capital structure, the degree of financial leverage increases. Financial leverage means that the total amount of debt that is used in the capital structure of a firm (Harris and Raviv 1991). Another related concept is that of operating leverage which means that the portion of fixed cost used in the total cost of production of a particular product or range of products (Moyer, McGuigan and Kretlow 2009). Investors are very much concerned about the financial risk of firms because this is the kind of additional risk which they have to bear because of debt financing besides equity, in the firms total capital structure (Brigham and Ehrhardt 2001). It is the main objective before the financial managers to design the capital structure so that the value of the firm is maximized and at the same time mitigate the risk at hand (Harris and Raviv 1991). To gauge the financial risk of a firm, Times Interest Earned (TIE) ratio carries special importance in the eyes of these investors (Besley and Brigham 2007). Times interest ratio is of immense importance to analyse the true interest cost coverage ability of a firm (Brigham and Ehrhardt 2001). TIE depends upon three important factors: the amount of debt in the total capital structure, the cost of debt and the profitability of the firm (Haugen 1995). Usually the industries which are less leveraged such as Drugs and electronics etc. have a very high TIE ratio (Brigham and Ehrhardt 2001). However, the firms which are in the business of retailing or utilities which rely more on debt financing, have low interest coverage ratios (see table1) (Brigham and Ehrhardt 2001).There are also variations in the capital structure of individual firms operating in the same industry due to the different attitude of managers and their particular risk/return profiles (S. Myers 1977). The firms where manger s are more aggressive and have high risk appetite usually use more debt financing than those firms where managers are risk-averse (Hull 2008). The tools used to find the optimal capital structure are EBIT/EPS Analysis and EPS indifference Analysis (Brigham and Ehrhardt 2001). 2.6.1 EBIT/EPS Analysis Earnings Per Share (EPS) of a firm vary with changes in the amount of debt in the capital structure of a firm (Warner 1977). Theoretically, as the amount of debt increases in the capital structure, the financial risk increases (Warner 1977). Because of this high financial risk, investment houses change higher interest rates for the further debt which ultimate increases the cost of capital for a firm (Brigham and Ehrhardt 2001). Surely extra amount of financial leverage increases the capability of a firm to earn higher earnings per share in the coming years (Jensen and Solberg 1992). Brigham Ehrhardt (2001), however, suggested that EBIT/EPS ratio should range from 0 to 5%. To find the exact point in this range, financial managers have to conduct an EPS indifference analysis. 2.6.2 EPS indifference analysis The purpose of this analysis is to find out the point where a firm is insouciant as to whether it uses debt or equity for the same ratio of EPS (Brigham and Ehrhardt 2001). Brigham and Ehrhardt (2001) found that a firm will report higher EPS at a low level of sales and firm is using the more equity than debt. On the other hand, an organization will experience faster increase in EPS with the increase in sales if a firm is using more debt than equity (Brigham and Ehrhardt 2001). The point worth noting is that if business managers are confident about a certain level of sales of their firm, they should go for debt financing and vice versa (Besley and Brigham 2007). Financial risk of a firm is usually measured by interest coverage ratio, fixed charge coverage ratio and longer debt ratios (Moyer, McGuigan and Kretlow 2009). These ratios are usually compared with industry average ratios to gauge the true financial health of a firm (Moyer, McGuigan and Kretlow 2009). These ratios are also compared to the previous years ratio of the same firm to determine the trend of firms performance over a period of time (Brigham and Ehrhardt 2001). The Financial risk of a firm depends upon a number of factors such as financial leverage, Operating leverage, expected future free cash flows and so on. Because of the intense competition and uncertainty in the market, it becomes essential for the finance executives of companies to manage the risk of their organisations by either diversification, adopting an optimal capital structure, or using the sophisticated derivative securities (Hull 2008). An optimal capital structure is to arrange the financial structure of the firm in such a way that minimises the weighted-average cost of capital and thereby maximises the value of the firms stock (DeAngelo and Masulis 1980). The dilemma here is that when a firm is trying to maximise its EPS by increasing the amount of debt, its financial risk also increases at the same time (DeAngelo and Masulis 1980). On the other hand, if a firm tries to minimise its financial distress, it has to reduce its financial leverage which ultimately hurts the EPS of the firm (Bhaduri 2002). Hence there arises the need of an optimal financial structure which increases the EPS of a firm and reduces its overall finan cial distress simultaneously (Bhaduri 2002). This choice of the optimal capital structure depends upon a number of factors such as the size of firm, its growth rate, cash flow projections and product and industry characteristics. (Bhaduri 2002). There is a school of thought advocating that derivatives are the most useful tool to hedge financial risks at the firms level (Jalilvand, Tang and Switzer 2000). Yet there is another group who believe that there are some alternative (i.e. using less debt financing) as compared to the typical hedging techniques available which can be used to reduce the financial risk at corporate level (Berkman, Bradbury and Magan 1997). From these studies, it is evident that managing the financial risk of firms is very important for firms in order to be competitive in the market place. Some companies have made internal risk management policies as part of their corporate business strategy (Maksimovic and Zechner 1991). Smith and Stulz (1985) commented on the goal of risk management in these words: The primary goal of risk management is to eliminate the probability of costly lower-tail outcomes those that would cause financial distress or make a company unable to carry out its investment strategy(p. 3 95). It is clear from the words of Smith and Stulz (1985) that the main goal of companies is to manage risk by either means. During the last decade, there has been a lot of research on the impact of industry in deciding the capital structure of firms (Booth, et al. 2001). Booth et al. (2001) studied whether the factors affecting the capital structure of firms are country specific or not. For this purpose, their study focussed on ten developing countries: India, Pakistan, Thailand, Malaysia, Zimbabwe, Mexico, Brazil, Turkey, Jordan and Korea. They reported that: In general, debt ratios in developing countries seem to be affected in the same way and by the same types of variables that are significant in developed countries. However, there are systematic differences in the way these ratios are affected by country factors, such as GDP growth rates, inflation rates and development of capital market (Booth et al. 2001 p. 118). The institutional owners who hold large amount of shares of a firm also play a very significant role in deciding the capital structure of these firms (Al-Najjar and Taylor 2008). As these owners have the right to elect the board of directors, they can influence the mangers of their firms to adopt specific risk management policies and finance capital in a certain and specific manner (Al-Najjar and Taylor 2008). 2.7 Financial market Dysfunction In developing countries, banks and other financial institutions are main sources that provide liquidity to the economic system by advancing credit to the films (Demsetz and Lehn 1985). In repressed financial system, banks provide short and medium term loans to the young and established entrepreneurs; while big and developed financial institution provide long term loans to the big corporation (Kester 1986). These loans are mostly given to the particular sectors of national economies such as agriculture and transport and housing (Antoniou, Guney and Paudyal 2002). Governments used to influence these commercial institutions to favour certain sectors and advance soft credit to the small industry (Leech 1987). Regularity agencies mostly restrict the banks from advancing credit to certain limits (DeAngelo and Masulis 1980). Antoniou, Guney and Paudyal (2002) said that the limitation on the financial institutions by the authorities result in the form of credit rationing. Another hu

Upholding Shakers Traditions :: essays research papers

Traditions Upheld The Shakers are universally admired for their architecture and handcrafts. Shakers believed that they served God by approaching every task with care. This care resulted in a distinctive Shaker style of architecture, furniture and decorative arts characterized by traditional Shaker values of simplicity, utility and fine craftsmanship. The Shaker sense of order and neatness is reflected in the clean lines and lack of ornamentation of their designs. Shakers were pioneers of the principles of form and function advocated later by architects and designers. The Shakers, or United Society of Believers in Christ’s Second Appearing, are the most enduring and successful of the many communitarian societies established in America in the 18th and 19th centuries. The first Shakers, led by Ann Lee, came to America from Manchester, England, in 1774 seeking a place to freely practice their religious beliefs. Near Albany, New York, they established the foundation for a unique sect which has endured for more than 220 years. The early Shakers traveled through New England and New York, attracting converts who were impressed by the kind of personal, spiritual relationship with God preached by Ann Lee. Converts gathered into communities, bound by their shared faith and a commitment to common property, celibacy, confession of sins, equality of men and women, isolation and separation from the world. By the 1830s nineteen Shaker communities had been established in New York, Massachusetts, Connecticut, New Hampshire, Maine, Ohio, Kentucky and Indian a. Shakerism reached its peak in the mid-1800s, with an estimated five thousand members. There are still a few Shakers around today. The village that was most discussed by Susan Jackson Keig was in Pleasantville Kentucky. She discussed the Shakers singular way of life and their very detailed lives. There were four villages in Ohio, two in Kentucky and one in Indiana. There were nineteen major Shaker villages. These people new the secrets to live they seemed to live longer and be in better health. The Shakers were caring people they would take in orphans and all sorts of people, they did not discriminate against who was allowed in their village. Susan Jackson Keig showed a medley of beautiful pictures that can not be found any where else. I really enjoyed her presentation. Upholding Shakers Traditions :: essays research papers Traditions Upheld The Shakers are universally admired for their architecture and handcrafts. Shakers believed that they served God by approaching every task with care. This care resulted in a distinctive Shaker style of architecture, furniture and decorative arts characterized by traditional Shaker values of simplicity, utility and fine craftsmanship. The Shaker sense of order and neatness is reflected in the clean lines and lack of ornamentation of their designs. Shakers were pioneers of the principles of form and function advocated later by architects and designers. The Shakers, or United Society of Believers in Christ’s Second Appearing, are the most enduring and successful of the many communitarian societies established in America in the 18th and 19th centuries. The first Shakers, led by Ann Lee, came to America from Manchester, England, in 1774 seeking a place to freely practice their religious beliefs. Near Albany, New York, they established the foundation for a unique sect which has endured for more than 220 years. The early Shakers traveled through New England and New York, attracting converts who were impressed by the kind of personal, spiritual relationship with God preached by Ann Lee. Converts gathered into communities, bound by their shared faith and a commitment to common property, celibacy, confession of sins, equality of men and women, isolation and separation from the world. By the 1830s nineteen Shaker communities had been established in New York, Massachusetts, Connecticut, New Hampshire, Maine, Ohio, Kentucky and Indian a. Shakerism reached its peak in the mid-1800s, with an estimated five thousand members. There are still a few Shakers around today. The village that was most discussed by Susan Jackson Keig was in Pleasantville Kentucky. She discussed the Shakers singular way of life and their very detailed lives. There were four villages in Ohio, two in Kentucky and one in Indiana. There were nineteen major Shaker villages. These people new the secrets to live they seemed to live longer and be in better health. The Shakers were caring people they would take in orphans and all sorts of people, they did not discriminate against who was allowed in their village. Susan Jackson Keig showed a medley of beautiful pictures that can not be found any where else. I really enjoyed her presentation.

How did Stalin come to power and stay there? Essay

Stalin came to power in 1929, after out-manoeuvring his opposition in the Communist Party through political scheming and taking advantage of the mistakes they made. He stayed in power by getting rid of his opponents in brutal and unfair ways. It took Stalin 5 years to become completely established as Lenin’s successor. Stalin started his climb to power when Lenin gave him the important job of requisitioning grain from Southern farmers in order to feed the North. As a reward for this, Lenin made him responsible for the Red Army in the South. This brought him in direct conflict with Trotsky. He was then given the position of General Secretary of the party. By taking on many important jobs he was able to create an important power base because he had many supporters who owed their position to him. Before Lenin died, he had to decide who would succeed him; the obvious two choices were Trotsky and Stalin. Although it was very close Lenin had wanted Trotsky to be the one, this was a major draw back for Stalin. No one really knew about this until after Lenin died. Lenin’s funeral was a good time for Stalin to be back at the top. Before the funeral he had told Trotsky, who was ill at the time, that it was on a different date to the time it really was. As Trotsky was out of the picture for a while, it meant Stalin could take the glory for organising the funeral and leading the mourning. When Trotsky arrived for what he thought was the date of the funeral, he was told that he had missed it and this put him out of favour with the people of Russia. When Lenin’s Testament was about to be released to the public, Zinoviev saved Stalin from losing his chance by saying that it was out of date and it was never made public. By this time Stalin was Head of the Control Commission, which meant he could purge and expel members who were unreliable and control party membership. He was also made the party’s Orgburo; this meant he ran its’ organisational matters. By this time, Trotsky was furious and in his anger he gave up his only symbol of power by resigning as Commissar of War. Trotsky seriously underestimated the threat that Stalin was to him until it was too late. He was arrogant and often offended other senior Party members and made little effort to build up support for himself in the ranks of the Party. Many people in the USSR were frightened of him because they were worried that he would involve the USSR in new wars. They were tired of war and revolution and Stalin seemed to understand the people’s feelings. Stalin was now in the spotlight; he joined the Rightists, attacked the leftists and forced them out, this left space that was filled immediately by Stalin’s supporters. He then turned on the Rightists, voted then out and filled these spaces with more of his supporters. By his 50th birthday in December 1929, Stalin was finally made Leader of the Soviet Union and Stalin’s supporters now filled most of the Politburo. Once Stalin was in power he found it easy to stay there, through harsh ways he defeated his opponents. As Stalin’s supporters now filled the Politburo, he now had a good relationship with the members, which meant he could make as many new policies as he wanted without having people oppose them. Stalin made new economic and social policies all of which were carried through. As part of his economic policies, Stalin decided to modernise the USSR as it was far behind any other country, technology wise. Stalin himself said, â€Å"We are 50 to 100 years behind the advanced countries.† To start with brought peasants in from the country to towns to work in newly built factories. He dedicated these factories to building artillery. He came up with 3 ‘Five Year Plans’ each of which were set up to enable the USSR to ‘Catch-Up’ with technology. The 1st FYP was dedicated to building new industrial cities from nothing and setting up steel mills in many places. The 2nd FYP was focused on the 1st but built upon it. Heavy industry was still a priority but other areas, such as mining for lead, tin, zinc and other minerals, transport and communications and railways and canals, were developed. The 3rd FYP was in 1938. Some factories were to switch to the production of consumer goods such as, cars, radios, clothing etc; however, this plan was disrupted by the Second World War and so was not completed. Stalin also made some social polices which helped him keep the USSR under control; most of these were harsh and brutal. For example, he arrested people if they had links to Trotsky, he sent workers to labour camps, and he would put people in show trials for making the slightest mistake. These were important because people lived in fear and this made him very powerful because it squashed any opposition. Other policies, however, made him popular because they improved the way people lived, for example he improved living conditions for people throughout the USSR and he made factories produce consumer goods. This made the public happy. Education and religion were also factors of Stalin’s social policies, children in schools were shown pictures of party leaders which they burned when a new person was arrested and churches were closed and the ‘League of Militant Atheists’ was set up. These were both ways of subduing the public into supporting Stalin, which kept him in power longer. Another factor that helped Stalin stay in power was the fact that he was a cult figure; everybody knew Stalin was the leader, whole buildings were covered in portraits of his face and almost everything was named after him. He had many other names such as ‘Man of Steel’, ‘Iron Soldier’ and Universal Genius’, which proved how much the public liked him. People at meetings applauded whenever his name was mentioned and films, poems, plays, stories and novels celebrated his life. It even seemed Stalin could improve some ones love life. This all was a very important factor, which helped Stalin stay in power because he was so popular. Stalin was able to succeed Lenin because he was a very clever politician and planned his rise to power very carefully. He made sure he was close to Lenin so that he was popular with the people. He used the positions of power that he held very shrewdly by making sure that anyone who opposed him lost their job and putting in their place people who would support him. He was very ruthless and played those who opposed him, such as Trotsky and Bukharin, off against one another. Once in power he ruled by fear by controlling the people so that they would be too afraid to oppose him. He used the secret police to crush any opposition. He remained popular with the people by developing the ‘Cult of the Personality’; history was rewritten so that Lenin and Stalin were the only heroes of the Revolution. He used propaganda to good effect especially in Education. Portraits, photographs and statues of Stalin were everywhere and everything was done to promote Stalin from street names to poems about him or music composed praising him. Religious worship was banned, as he did not want the people to have any loyalty other than to him. Stalin had control of everything, from the economy to the mass media and freedom of speech was denied to Soviet citizens. So it was by these means that Stalin was able to take power and hold on to it after Lenin’s death. Bibliography: My Coursework Book Modern World History Text Book