Why i attend college Essay Example | Topics and Well Written Essays - 500 words

Why i attend college - Essay Example I have been incisive on this notion for quite a long while now and I believe this is the right step forward – attending college would help shape me up in a better fashion than anything else. Attending college would give me a boost in terms of my personality and character building regimes. It would help manifest my true basis within the army as well as make my grooming complete from all sides. I have envisioned a life which is filled with success and accomplishment and this can only take place once I educate myself in a wholesome manner. I have stepped on to this pathway and I opine that I am doing something for my own betterment, in the long run. I know this for sure that remaining within the army would bolster my career but attaining higher education by attending college at this juncture in my life would make me a resolute and firm believer of the positives that I could draw from attaining such education. This will strengthen my base and provide me a platform to grow and develop in the long term scheme of things. I would consider myself very lucky if I attend college now because to remain abreast of the changing educational patterns is indeed something which goes down well with the prospective employees. I do not wish to miss on this tangent at all. In essence, attending college would open up alternatives after I retire from the army. It would make me into a contented individual – one who is completely at home with his feelings, desires and sentiments. I would see myself progressing smoothly with the changing norms and conditions of my life and I would not find myself within any difficulties if I remain glued to the cause of attaining education even at that age. Thus the start must come today and my attending college would give me the much needed base upon which I can build my edifice upon. Undoubtedly army will provide me success but my education will instill

Der Rattenfanger Essay Example for Free

Der Rattenfanger Essay Page fifteen opens with ‘pipe music’, this gives the audience a sense of what the story of Der Rattenfanger is about even if they fail to understand the German title. Pipe music is usually associated with the story of the Pied Piper, which is what we later discover Der Rattenfanger expresses. As Faith reads the title of Der Rattenfanger Eva asks her ‘Mutti’ the question of what an abyss is, this is significant in regards to describing the character of The Ratcatcher, an abyss is usually associated with separation and loss, both of which The Ratcatcher personifies. That he is mentioned with association to an abyss foreshadows what is to happen with Eva and the relationship that she currently shares with her ‘Mutti’. Page sixteen is the Ratcatcher’s first appearance in the play, he materialises from Faith and the audiences imagination and his first lines are rhetorical questions â€Å"Who is not counting? †, â€Å"Who has forgotten their blessings? † . The rhetorical questions are intended to influence the audiences’ opinion rather than requiring an answer to the questions posed. The cross-dialogue between Helga and The Ratcatcher ensures that all of The Ratcatcher’s lines are declaratives â€Å"I will find you†, â€Å"I will search you out whoever wherever you are†. This enforces the idea of The Ratcatcher being a dominant character, The simile â€Å"eyes as sharp as razors† creates the impression that The Ratcacther is a being who inspires fear and gives the idea of an entity that haunts one’s nightmares. The dynamic verbs that are used when describing The Ratcatcher’s speech are all associated with antagonists, â€Å"It hissed†, â€Å"It spat†, referring to The Ratcatcher as an ‘It’ rather than a he dehumanises the character and adds to the antagonist or even entity feel. â€Å"A train whistle blows. Sounds of busy railway station† the whistle of the train can be interpreted as symbolic of the Der Ratenfanger, the pied piper of Hamlen lured the children away from the town of Hamlen with his music when they refused to pay him for using the same method to rid them of their rat infestation, like the Ratcatcher the Kindertransport is taking the children away from their families and what they know into the unknown, it could also be a metaphor for Hitler, it was a direct result of his actions that led to the children being forced from their home country, rats is an nti-Semitic term for being Jewish, Goebbels wrote: â€Å"It is true that the Jew is a human being, but so is a Rat a living being – one that is none too pleasant . . . our duty towards both ourselves and our Conscience is to render it harmless. It is the same with the Jews†. The rats in the pied piper story could be interpreted as a metaphor for the children that would become victims of Nazi persecution. I will take the heart of your happiness away† I interpret the heart of you happiness as being a metaphor for the loss of the children in the town of Hamelyn. The Ratcatcher is omnipresent throughout the play, he embodies all of the male antagonists, the guard, the Nazi, the border guard, and the station guard, the organiser and the postman are all derived from him, each character appears and creates tension for the audience, they all inspire fear in Eva and are the embodiment of loss and separation for both Eva and Evelyn, e. . , the loss of Eva’s money to the officer who searches her on the kindertransport, in contrast to this the postman actually delivers a parcel to Eva, which we discover is a letter from her mother along with a Jewish prayer book and her story book Der Rattenfanger. It seems that even when Eva attempts to run from her past der rattenfanger is always there on the edge of her mind and steadily creeping closer. The Ratcatcher is the origin for provoking the characters and the audience into thinking about family and identity, he also forces the characters to contemplate how the present is affected by the past, and learning how to come to terms with our insecurities and fears, for instance at the end of Act one, Scene two where the â€Å"pipe music† and â€Å"shadow of the ratcatcher looms†, The Ratcatcher, who has already been established as an antagonist and representing fear and punishment foreshadows what is to come. By the end of this scene we begin to realize the depth that Eva’s insecurities and fear of The Ratcatcher run, the cross-dialogue of Eva speaking with her future self-Evelyn gives the audience the impression that Eva/Evelyn may suffer from a duel personality or in the very least a severe mental condition, Eva being the naive and frightened voice here whilst Evelyn is the mature and dependable voice. Evelyn’s closing line for this scene â€Å"He won’t take you anywhere ever again†. The he she refers to being the Ratcatcher, further enforces the idea that The Ratcatcher is the embodiment of loss and separation for Eva/Evelyn, the fact that Evelyn confronts the personification of her fear in this scene gives the audience the impression that Evelyn is beginning to come to terms with her past, although The Ratcatcher is still presented as a dark and brooding presence that Evelyn attempts to suppress and bury in the recess of her mind.

Computers: Past, Present And Future :: Information Technology

I have been using computers for as long as I can remember, whether it is for entertainment use or work use, computers are part of our everyday lives. They have an effect on almost everything you do. When you buy groceries at a supermarket, a computer is uesed with laser and barcode technology to scan the price of each item and present a total. Barcoding items (clothes, food and books ) requires a computer to generate the barcode labels and maintain the inventory. Most televison advertisiments and many films use graphics produced by a computer. In hospitals, bedide terminals connected to the hospital's main computer allow doctors to typw in orders for blood tests and to schedule operations. Banks use computers to lool after their customers' money. In libraries and bookshops, computers can help to find the book you want as quikly as possible. This has not always been the case though; computers did not always exist, and are continuously changing to this day. I think one group said it best,† Companies promote it for their employees. Parents demand it for their children. Those who have it believe they have a competitive edge. Those who don't have it seek it out. "It" is a computer. We are rapidly becoming a "computer society" Until recently computers were found only in environmentally controlled rooms behind locked doors. Only computer professionals dared enter these secured premises. In contrast today computers are found in millions of homes and just about every office. In fact there is a computer for one in every eight people in the world. Eventually all of us will have at least one computer and will use it every day for work and leisure.† -EYAL POLAD, YARON TWENA, DORON FREIBERG, and GILAT ELIZOV. Role of Computers in the Past â€Å"There is no reason anyone would want a computer in their home.† –Ken Olson, president, chairman and founder of Digital Equipment Corp., 1977 First Generation Almost everything invented or created, has one specific person who has been credited with their invention or creation, but this is not so with the computer. Many people throughout history have added their part to the computer. This could include programs to help the computer run better or faster, some created different kinds of computers, but either way they contributed to the computer we know today. The first â€Å"computer† was developed in 1936 by Konrad Zuse and was named Z1.

Canterbury Tales Essay :: essays research papers

In Geoffrey Chaucer’s â€Å"The Canterbury Tales†, many characters suffer from Dante’s â€Å"Seven Deadly Sins†. I have chosen to write about The Skipper, for his avariciousness and wrath; The Miller for his pride and avariciousness; and also The Franklin for his gluttony, avariciousness and slothfulness. I have found examples for these in â€Å"The Prologue† by Chaucer. The Skipper is avaricious and also suffers from wrath. He is avaricious because he would gain someone’s trust so they would do business with him and then he would steal from them and cheat them. In â€Å"The Prologue†(pg. 103 lines 407-408), it reads, â€Å"He’d drawn at Bordeaux, while the trader snored. The nicer rules of conscience he ignored†. He also suffered from wrath, anytime he had extra people on his ship, he would make them walk the plank. In â€Å"The Prologue†(pg.103 lines 409-410), it says, â€Å"If, when he fought, the enemy vessel sank, he sent the prisoners home: they walked the plank†. The Miller was inflicted by pride and avariciousness. He was very prideful. He would boast about anything that he could do well. In â€Å"The Prologue†(pg. 107 lines 557-558), it says, â€Å"Broad, knotty and short-shouldered, he would boast, He could heave any door off hinge and post†. He was an avaricious man. He would steal grain for himself. In â€Å"The Prologue†, it says, â€Å"His was a master-hand at stealing grain. He felt it with his thumb and thus he knew its quality and took three times his due†. (Pg. 107 lines 570-572) The Franklin suffered from gluttony, lust and slothfulness. He ate all the time. He had way too much food and it was all for himself. In â€Å"The Prologue†, it reads, â€Å"His bread, his ale were the finest of fine, and no one had a better stock of wine. His house was never short of bake-meat pies†¦..†(Pg. 101 lines 351-354). He lusted for pleasure. That is all he wanted from life. In â€Å"The Prologue†, it says, â€Å"He loved a morning sop of cake and wine, he lived for pleasure and always have done†. (Pg.

Arbitrage in the Government Market Essay

In 1991, major discrepancies in the prices of multiple long maturity US Treasury bonds seemed to appear in the market. An employee of the firm Mercer and Associates, Samantha Thompson, thought of a way to exploit this opportunity in order to take advantage of a positive pricing difference by substituting superior bonds for existing holdings. Thompson created two synthetic bonds that imitated the cash flows of the 8 ¼ May 00-05 bond; one for if the bond had been called at the year 2000, and one for if it hadn’t been called and was held to its maturity at year 2005. The first synthetic bond combined noncallable treasury bonds that matured in 2005 with zero coupon treasuries (STRIPS) that matured in 2005. The synthetic bond had semiannual interest payments of $4.125 per $100 face value and a final payment of $100 at maturity in order to exactly match the cash flows of the 8 ¼ May 00-05 callable bond if it had been held to maturity. Thompson found the price of this synthetic b ond by using this formula: The ask price of the two bonds were given as $129.906 and $30.3125, respectively. She calculated the number of units needed of the 2005 treasury bond by dividing the semi-annual callable 00-05 coupon rate by the semi-annual 2005 treasury bond (4.125/6). The only part of the equation that she did not have was the number of units needed of the 2005 STRIP. She had to calculate the correct amount in order to imitate the cash flows of the 00-05 callable bond. Thompson did this by using this equation. The final cash flow of the 00-05 bond was $104.125, the final cash flow of the 2005 treasury bond was $106, and the final cash flow of the 2005 STRIP bond was $100 as there are no coupon payments in STRIPs. She found that the number of units needed of the 2005 STRIP bond was 0.3125, and then found that the synthetic price of this bond was $98.78. The second synthetic bond combined the noncallable bonds maturing in 2000 with STRIPS maturing in 2000. This synthetic bond also had semiannual interest payments of $4.125 per $100 face value and a final payment of $100 at maturity in order to exactly match the cash flows of the 8 ¼ May 00-05 callable bond if it had been called in 2000.  Through similar calculations of the first synthetic bond, she found that she needed 0.0704 units of the 2000 STRIP, and the price of this synthetic bond was $100.43. What Thompson found was surprising because both of these synthetic prices were less than the ask price of the 00-05 treasury bond. In normal markets this shouldn’t be the case because the synthetic bond would be worth more to investors since it does not have a redemption right to the government. In other words, the callable bond should have a lower price than the synthetic noncallable bond. 2. There are two ways that Thompson could exploit this pricing anomaly that she found. If she already held the 00-05 treasury bond, then she could immediately capitalize on the price discrepancy by selling the 00-05 treasury bond for the bid price of $101.125 and buying one of these synthetic bonds. Whether to buy the 2000 synthetic bond or 2005 synthetic bond is up for debate and opinion but it might be suggested to go with the 2005 one since the price of $98.78 is even smaller than the price of $100.43 and there would be larger price impact. By selling the 00-05 bond and buying the 2005 treasury bond, she would be getting the same cash flows for an immediate lower price. The second way that Thompson could exploit this pricing anomaly would be if she does not currently hold any bonds at all. A profit could be earned by establishing short positions in the relatively overpriced security and long positions in the relatively underpriced security. Thompson would borrow the 00-05 treasury bond from a dealer and then sell it. With that money, she would buy a synthetic bond and wait for the 00-05 treasury bond to decrease in price as prices converge. Once they do, she would buy the 00-05 bond for a lower price and give it back to the dealer, while pocketing about $2 (given that she bought the 2005 synthetic bond). There’s plenty of risk when trying to take advantage of pricing arbitrage. For example, the prices may never converge and Thompson might end up waiting almost 15 years without anything happening. Another risk is that the dealer might call the bond back while the money is tied up in the synthetic bond. Because of these risks, it might be better if she doesn’t try and take advantage of the pricing arbitrage at all. 3. Through close examination, a multitude of factors could have come into play resulting in the odd pricing of Thompson’s evaluated bonds. In studies conducted by Longstaff (1992) and Eldeson, Fehr, and Mason (1993) they found that negative option values were very common, ultimately implying that callable treasury bonds were significantly overpriced (35). Although it seems odd to have a negative option value, Thompson found herself in a rapidly changing bond market with the earlier introduction of derivative securities and STRIP bonds. With the introduction of STRIP bonds in 1985, problems arise in valuing callable treasury bonds using solely zero-coupon STRIP bonds being that they tend to undervalue the implied options (Jorden et al. 36). In addition, since negative option value bonds do not have implied volatilities, this raises the question whether callable bonds are priced rationally (Bliss and Ronn 2). Furthermore into Longstaff’s (1992) research, they exercised the â€Å"striplets† approach to investigate implied call option values. The â€Å"striplets† approach uses a U.S. Treasury coupon STRIPS and a coupon bond to synthesize a noncallable bond with the desired coupon (Jordan et al. 37). Longstaff finds that â€Å"61.5% of the call values are negative when estimates are based on the midpoint of the bid and ask prices, whereas 50.7% of the negative call estimates are large enough to generate profits even after considering the bid-ask spread† (38). Ultimately, the odd pricing in Thompson’s current situation is most likely due to the mispricing of callable bonds at the time due to the method of callable bond valuation and the early introduction of new types of bond securities in the market. 4. â€Å"Callable debt gives the treasury the right, but not the obligation, to redeem the callable treasuries at par (100) on any semiannual interest payment date within five years of maturity, provided that it gave investors four months’ notice† (Arbitrage in the Government Bond Market). There are multiple upsides for a company to issue callable debt. The main reason for this is to give the company (treasury) a sense of security in that they can redeem the bond in the event of an interest rate drop. For example, if the company issues bonds to investors at a 10% interest rate and then this rate  goes down to 8%, the company may redeem the callable bonds they’ve issued and replace them with the lower interest rate (8%). Callable debt is essential to have when there are long maturity dates. If you issue a non-callable bond for a fixed amount of years, there is a tremendous amount of risk for the treasury. For instance, if you issue a non-callable bond with a maturity of 25 years and the interest rate goes down over the years, this negatively affects the company. â€Å"Callability enables the treasury to respond to changing interest rates, refinance high-interest debts, and avoid paying more than the going rates for its long term debt† (Why Companies Issue Callable Bonds). Bibliography 1. â€Å"Bonds 200.† Why Companies Issue Callable Bonds. N.p., 24 Sept. 2014. Web. 30 Sept. 2014. 2. Jordan, Bradford D., Susan D. Jordan, and David R. Kuipers. â€Å"The Mispricing of Callable U.S. Treasury Bonds: A Closer Look.† Journal of Futures Markets 18.1 (1998): 35-51. Web. 3. Bliss, Robert R., and Ehud I. Ronn. â€Å"Callable U.S. Treasury Bonds: Optimal Calls, Anomalies, and Implied Volatilities.† The Journal of Business 71.2 (1998): 211-52. Web. 4. â€Å"Bonds 200.† Why Companies Issue Callable Bonds. N.p., 24 Sept. 2014. Web. 30 Sept. 2014. 4. 5. â€Å"Harvard Business School.† Arbitrage in The Government Bond Market. N.p., 20 Sept. 2014. Web. 28 June 1995. .

The Benefits of Writing Concisely - Proofread My Paper

The Benefits of Writing Concisely - Proofread My Paper The Benefits of Writing Concisely Despite popular belief, wordiness – using more words than necessary to make a point – doesn’t make a paper sound more intellectual. Rather, it clouds your ideas and detracts from the impact of your writing. Writing concisely, on the other hand, will improve your work by: Keeping your point focused Ensuring your arguments flow clearly Helping you stay within the word allowance of your assignments But how do you make sure your written work is always concise? Focus on Your Thesis Somewhere at the beginning of your paper, you should have a clear statement of your thesis. This will guide the rest of your paper, since every point you make should add to your argument. If something in your work is not relevant to your thesis, consider whether it needs to be there. Faster! Harder! Stronger! (aka Editing Ruthlessly) The first draft is only the starting point in writing a good academic paper. Once you’ve got everything down, re-read it carefully, looking for errors and considering potential improvements. In terms of readability, this will typically include eliminating unnecessary words, tightening sentence structures and making sure that each paragraph flows smoothly to the next. Avoid Redundancy and Repetition Beware of redundancy and repetition. Redundancy is when we use a phrase that includes additional terms for no reason: in â€Å"the car was green in color,† for instance, â€Å"in color† is redundant because we know that â€Å"green† usually refers to a color. Repetition, meanwhile, is the unnecessary inclusion of the same point twice. If you’ve already introduced a concept in your work, for example, there’s no need to reintroduce it later on. Cutting repetition can make your writing much more succinct. Words, Not Phrases Try not to use several words when one will do. For instance, the sentence: It was an experience that I found very interesting for many reasons and from which I learned a lot. Could be rewritten more concisely as: It was a fascinating and educational experience. Simply put, â€Å"fascinating† and â€Å"educational† are an economical way of saying â€Å"I found interesting for many reasons† and â€Å"from which I learned a lot† respectively. As such, the rewritten sentence is easier to read.

IRAQ VS. THE UNITED STATES OF AMERICA

IRAQ VS. THE UNITED STATES OF AMERICA: HOW MUCH LONGER WILL INNOCENT PEOPLE CONTINUE TO DIE UNTIL SANCTIONS ARE LIFTED? In the year 1990 the Middle East was in a tense position after the attack of Kuwait by its Iraq neighbours and its President Sadaam Hussein. This was only to beginning of what turned out to be a war, which many were hurt, and many countries felt the effect as a result of this war. The Gulf War did not start until 1991 but tension was building between the world and Iraq. Iraq was left out on its own to fend off the world. This war turned out to be Sadaam vs. the world. Countries felt threatened by the mere existence of this man Sadaam considering him a menace to society. Sadaam proved over again that he was after land first invading Iran and then taking over Kuwait. When Sadaam took over Kuwait he was after the Kuwaiti Oil. Iraq wanted to be the second largest to Saudi Arabia in Oil production and only could achieve this by taking over Kuwaiti soil. The Gulf War turned out to be a hard fought war led by the United States of America and George Bushs Administration. The Bush Administration was determined not let Kuwait be walked over by a stronger country in Iraq. This administration was not entering into this war without its own interests addressed since they received $6 billion (US) from Kuwait in support for the United States forces. The USA had its own interests in mind and the most important to them was not the safe return of all Kuwaiti land but rather the oil with which Kuwait would owe them for returning their land. This war was also known as the Desert Storm. Desert Storm was not only about Iraq since it affected many countries around Iraq. Some have suggested that Israel felt threatened as a result of the power which Sadaam and Iraq had gained and that is what brought the United States into the war. At the end of the war when the cease-fire was achieved a new war had just begun. Th...

Rituals in the Hospital essays

Rituals in the Hospital essays Ritual has been defined as standardized ceremonies in which expressive, symbolic, mystical, sacred, and nonrational behavior predominates over practical, technical, secular, rational, and scientific behavior, although anthropologists have acknowledged that rational, technical acts may occur as part of ritual behavior (Katz, Pearl). Rituals are performed for various reasons, not only in religious situations. The article Ritual in the Operating Room discusses both ritual and science in one technical context, the hospital operating room. It talks about the ritualized movements within the operating room and what the three stages are in the operating room. I will also describe other situations in which rites of passage are used. One of the rituals of the operating room is scrubbing. It is a process in which certain people have to wash their hands and lower arms very rigorously and precisely. The purpose is to remove any bacteria that may be under the nails or on the arm. Not everybody scrubs, only the people who actually operate or do assist in the surgery. Mainly, it is the surgeon, assistant surgeon, and the scrub nurse who participate in the scrubbing ritual. It is a seven minute procedure, every person is sure to use the full time to make sure all the bacteria is gone. After they are scrubbed it is important not to touch anything that would contaminate their clean hands and arms, so the assistant nurse helps them into their gown and sterile gloves. In the operating room objects and people are classified as sterile or nonsterile. Nonsterile objects are clean, dirty, or contaminated. No part of the nurse or the anesthesiologist is sterile. Certain parts of the surgeon and the scrub nurse are classified as sterile. If a part of the surgeon becomes contaminated there is a process of scrubbing again and ridding of the contaminated objects to become sterile again. ...

Health and nutrition worksheet Essay Example | Topics and Well Written Essays - 250 words

Health and nutrition worksheet - Essay Example Physical activity enables one to fight depression, boost energy, manage weight, build muscles and sleep better. To get enough physical activity, one should change their sedentary lifestyle and engage in activities that require movement. Factors that influence food choices include: biological factors like taste, appetite and hunger; economic factors like one’s income, availability, and cost; social factors like peer pressure and culture; physical factors like time, cooking skills and access to food; and knowledge, beliefs and attitudes about food. This is because not everyone can access the same food due to the above differences. Proteins consist of large amino acids which are broken down when chewing then digested in the stomach then in the small intestines for absorption. Carbohydrates are digested from the mouth where saliva breaks and passes them to the esophagus and stomach for further digestion. Carbohydrates make one feel fuller longer because some are stored in the liver for later usage. Nutrients are used to produce adenosine triphosphate (ATP) through various processes such as glycolysis whereby glucose found in nutrients is broken down into two subunits referred to as pyruvate. After pyruvate has been formed by glycolysis, respiration will enable nutrients to produce ATP by facilitating the combination of pyruvates with oxygen to form water and carbon dioxide, thus forming

The view on 'a management revolution' presented by Gary Hamel Essay

The view on 'a management revolution' presented by Gary Hamel - Essay Example Proper management is essential if organizations are to run effortlessly and achieve their purposes. It is through management that humankind has grown tremendously over the years. However, the tools of management on which this model is built have been in use since the 19th century, with a few changes if any While organizations remain stagnated on this old management model, the business environment, and the entire world, has fully revolutionized (Chizema & Kim, 109, 2010). Since the business environment continues to change, managing continuity should be imperative to all organizations to develop a connection between the realities of past, present, and future (Kolb, 183, 2003). With markets opening beyond national borders, and business processes becoming faster and more flexible, business organizations have been forced to adapt to a model more suitable for the 21st century (Burgelman & Grove, 965, 2007). However, Gary Hamel (2009) calls for an entire revolutionary change of the current management model. In his article entitled ‘Moon shots for management’, he says, â€Å"The evolution of management has traced a classic S-curve,† and goes on to argue that a new management model must be invented for the new age. New challenges The current management model is vertically structured with precisely defined roles for every level and is guided by set rules and procedures (Pye & Pettigrew, 153, 2005). In the current business environment, effective change is achieved when a firm has an organized pattern of decisions that guide deployment of resources in response to environmental changes (strategy) and a mechanism that turns this strategy into output (organization) (Nadler &Tushman, 204, 1989). Overcoming challenges entail changing the entire organizational culture by setting new goals, visions, missions, values, and strategies (Sisaye, 176, 2000).Even though culture is complicated, differentiated and difficult to control, it should be manipulated to encom pass a deep level of unconscious basic assumptions manifested in shared values, beliefs, behaviors, and creations (Harris and Ogbonna, 32, 2002). In order to overcome these challenges, Hamel postulates that business executives â€Å"must face the fact that â€Å"tomorrow’s business imperatives lay outside the performance envelope of today’s bureaucracy-infused management practices.† . Little is known about the strategy making processes at the top level of companies (Dewally & Peck, 38, 2010). A broader insight into the leadership structure of a company is needed as part of a broader attempt to remodel management (Pye & Pettigrew, 28, 2005). In organizations, governance and decision-making is dependent on bargaining between the board of directors and CEO. This is characterized by covert and overt use of power and influence (Daily, Dalton & Canella 2003). This drive should be towards an open, inclusive, and democratic organizational form (Mintzberg, 43, 1994). Th e top management executives should adopt an inclusive management style (Liedtka, 120, 1998). The Moon Shots In May 2008, Gary outlined 25 critical points that he felt should be adopted by business organizations as a way of reinventing management to better suit the present. Hamel was keen to point out that these moon shots were not exhaustive. From the moon shots, companies first have to redefine their goals. Clear redefinition of goals must encompass building human capital and engendering employee engagement (Davenport & Larding, 259, 2010). With the current management set up, companies are encouraged to adopt management practices that are socially beneficial. Today’s corporate governance structures promote the interests of some groups while oppresses others. In many cases, the senior executives and the shareholders benefit while employees and the local communities suffer (Zerbe, Hartel & Ashkanasy, 149, 2008). This is due to existence of a large gap between leadership and ch ange management. These leaders have a high charismatic

Working Mothers Benefit Familes Vs Stay-at-Home Mothers Benefit Essay

Working Mothers Benefit Familes Vs Stay-at-Home Mothers Benefit Families - Essay Example One major reason for which working mothers have been praised is the influence that they have on their children. It has been observed that the children of working mothers have a generally positive attitude towards women. The thoughts on sex and gender roles are also less rigid as compared to their counterparts. Their daughters and especially have an acquired and greater self esteem and a more positive view of themselves as workers in the society at large. Meanwhile, the sons acquire a positive attitude of shared roles that they take to their own marriages. The overall effect of working mothers would be an increased number of women in the labor force, as equal partners with men. This would mean that the attitudes of children and their psychologies would be less focused on their sexes or gender (Valente, 272). Additionally, working mothers, contend that there are more positives than negatives to being a working mother both from a family and a personal standpoint (Valente, 270). Such a situation ensures that the woman gets a varied life that is not confined to the home. Unlike staying at home mothers whose experiences are the same, working mothers say that the interactions that they have with their husbands are mostly at a peer to peer level, the financial position of the family is complimented and as a result the needs of the family are quickly and easily met. The typical day of a working mother involves the duties of a mother in addition to her responsibilities as a worker. Such women sometimes get the advantages of both sides but the disadvantages of only one side, being a working mother. While it is true that they may employ the services of a housekeeper or baby sitter, there are others who do not. Moreover, such a move would detach them from their families and children if their whole focus is on their careers. On the contra side, there are quite a number of women who are opting or reconsidering the idea of becoming stay at home

Economics of the UAE Research Paper Example | Topics and Well Written Essays - 3500 words

Economics of the UAE - Research Paper Example y is comprised of seven formerly independent states, Abu Zaby, Ajman, Al Fujayrah, Ash Shariqah, Dubayy, and Umm al Qaywayn which merged to form the country in 1971, and in 1972, was joined by the state of by Ras al Khaymah (Index Mundi par. 2). The UAE presently has an approximate population of 5,314,317, a large increase from its population on 1968 of 180,000 (Elhiraika & Hamed 2-3). Its economy is primarily based on the extraction of vast natural oil and gas reserves within its inland and sea areas. It currently produces an estimated 2 million of barrels of oil daily. Being the third in worldwide oil reserves, the country has proven oil reserves of 98.8 million barrels, or 10% of the world’s oil reserves in June 2000, with another 6 trillion cubic meters of proven gas reserves (Shihab 249-251). The UAE has a total land area of 83,600 square kilometers, with a coastline of 1,318 km and is bordered by Saudi Arabia on its west, Oman on its east, and the Persian Gulf to the North. As of 1982, its population is comprised of less than 20% natural UAE citizens, with the rest being Emirati, Arabia and Iranian, South Asians and other expatriates. Its official language and religion is Arabic and Islam. Literacy rate is 77.9% with a life expectancy of 76.71 years. The country has a federal form of government, with a Federal Supreme Council (FSC), composed of the seven emirate leaders, with its capital in Abu Dhabi. Its Executive Branch has a Chief of State, President, Vice President and Deputy Prime Ministers with a Council of Ministers appointed by the President. Its legislature is composed of a 40-seat unicameral Federal National Council (FNC) and a judicial branch, the Union Supreme Court, with the Judges appointed by the President (CIA par. 3-5). The UAE economy has undergone a significant change from an impoverished region to one with a high degree of standard of living since the discovery of oil within its borders in the 1950s (CIA Para 1). With a 5.4 million

Societal Implications of the USA Patriot Act and How It Limits Daily Essay

Societal Implications of the USA Patriot Act and How It Limits Daily Life - Essay Example It is evidently clear from the discussion that one of the main ways the patriotic act limited people’s daily lives is by making them accept the unreasonable casual violation of their basic rights. For instance, the act made Americans accept without question that security agencies can subject them to unreasonable searches and seizures when they are traveling. The patriotic act limits the rights of Americans by increasing the capabilities of government to carry out surveillance in four areas. The act gives the government the power to conduct record searches. It does this by expanding the ability of the government to examine records indicating a person’s activity that are in third-party possession. The Patriotic act also authorizes secret searches that enable the government to search private property without issuing a notice. The Patriotic act also authorizes the government to conduct intelligence searches by extending an exception to the fourth amendment that was made to enable the government to gather foreign intelligence. The act also allows the government to engage in trap and trace searches by enabling the government to track the source and targets of communications and the content. The provisions of the patriotic act limit daily life by violating individual privacy. The act gives the government unchecked power to examine a person’s internet usage, medical history, library usage, and any other activity that leaves a record of some kind. This not only violates individual right to privacy protected in the fourth amend but may make people refrain from certain activities for fear of being watched by the government.

Economics of the UAE Research Paper Example | Topics and Well Written Essays - 3500 words

Economics of the UAE - Research Paper Example y is comprised of seven formerly independent states, Abu Zaby, Ajman, Al Fujayrah, Ash Shariqah, Dubayy, and Umm al Qaywayn which merged to form the country in 1971, and in 1972, was joined by the state of by Ras al Khaymah (Index Mundi par. 2). The UAE presently has an approximate population of 5,314,317, a large increase from its population on 1968 of 180,000 (Elhiraika & Hamed 2-3). Its economy is primarily based on the extraction of vast natural oil and gas reserves within its inland and sea areas. It currently produces an estimated 2 million of barrels of oil daily. Being the third in worldwide oil reserves, the country has proven oil reserves of 98.8 million barrels, or 10% of the world’s oil reserves in June 2000, with another 6 trillion cubic meters of proven gas reserves (Shihab 249-251). The UAE has a total land area of 83,600 square kilometers, with a coastline of 1,318 km and is bordered by Saudi Arabia on its west, Oman on its east, and the Persian Gulf to the North. As of 1982, its population is comprised of less than 20% natural UAE citizens, with the rest being Emirati, Arabia and Iranian, South Asians and other expatriates. Its official language and religion is Arabic and Islam. Literacy rate is 77.9% with a life expectancy of 76.71 years. The country has a federal form of government, with a Federal Supreme Council (FSC), composed of the seven emirate leaders, with its capital in Abu Dhabi. Its Executive Branch has a Chief of State, President, Vice President and Deputy Prime Ministers with a Council of Ministers appointed by the President. Its legislature is composed of a 40-seat unicameral Federal National Council (FNC) and a judicial branch, the Union Supreme Court, with the Judges appointed by the President (CIA par. 3-5). The UAE economy has undergone a significant change from an impoverished region to one with a high degree of standard of living since the discovery of oil within its borders in the 1950s (CIA Para 1). With a 5.4 million

A Passage to India through the Lens of Orientalism Assignment

A Passage to India through the Lens of Orientalism - Assignment Example A Passage to India through the Lens of Orientalism In A Passage to India, the author bases his story on the complex interactions between British colonialists and the Indian society, setting the story against the backdrop of the independence movement in India and the British Raj. The story revolves around Dr. Aziz, an Indian, and his British friends, including Miss Adela Quested. When Dr. Aziz is accused of assaulting Miss Adela (Forster 55), the run-up and aftermath of the trial bring to the fore common prejudices and racial tensions between the British rulers and indigenous Indians. This paper will seek to understand the events in A Passage to India through the lens of prevalent themes in Orientalism. One of the central themes in Orientalism is that knowledge about the East in Western society consists of preconceived archetypes, rather than reality or facts, which envisions Eastern societies as all similar to each other and, most importantly, radically dissimilar to the West (Forster 21). This apparent a priori knowledge in Western society about the East as being antithetical to Western society is also prevalent in A Passage to India, which turns consistently to the perspective of India as a country that is so exotic, diverse, and vast that Western people cannot understand it. Indeed, the characters compare and contrast India with England, in which the latter is presented as a charming and small island that does not overwhelm its people because of its neat lakes and valleys.

Perception and Reality in Existenz Essay Example for Free

Perception and Reality in Existenz Essay For me, eXistenZ is a film that is fairly confusing at best. If I’m not mistaken the film was released before The Matrix and had the same concept for the world the characters resided. A computer generated world inside the real world. In eXistenZ the protagonists start off in a room, they are about to beta test a revolutionary computer game called â€Å"eXistenZ†, the scene is set in such a way that we are led to believe that video games have finally reached the ultimate goal of becoming fully immersive and utterly real, not so much virtual reality but complete reality. Each actor is given a role that, in the game, they may or may not complete without knowing. This is where things already start to cross over. We as the audience are transported into a fictional world, viewed through a mechanical/computerized object (the camera) that is itself populated by fictional characters whom are just about to do the exact same thing. â€Å"The way we see things is affected by what we know or what we believe. † 1 berger We are told to believe that computerised realities identical to our own are now possible, and that these people will be â€Å"porting† into one. Nobody today, at least that I know, believes that our reality is computerised, simply because in our reality†¦a computer generated reality that is indistinguishable from our own has not been created. But if we all believed that, would we see this world differently as in eXistenZ? â€Å"An image is a sight which has been recreated or reproduced. It is an appearance, or set of appearances, which has been detached from the place and time in which it first made its appearance and preserved – for a few moments or a few centuries. † 2 berger. Once we are â€Å"ported† into the computerized reality of their reality, we realise that what we are viewing is not what we are seeing for ourselves, possibly not even in the same time or space. The camera is providing us with a series of still images that were captured by a â€Å"mechanical† eye (this alone provides us with a view of the world which is unlike our own i. e. widescreen, resolution, perspective etc). These images are producing a world that is similar to ours but unreal and from the viewpoint like that of a ghost or an angel (called â€Å"free cam† or â€Å"death cam† in the video game world†. The ability to view events from anywhere in the world whenever you want. ). This world then takes us into another world inside that one which is viewed the same way, except this world is supposed to be the false reality. I sometimes think this can be part of the explanation for the oddities we see†¦. like placing the lens of a camera next to the viewfinder of another camera and taking a picture. As your eye, a natural camera in itself sees through the first lens, the image is distorted via that lens and then the other lens. What is it you will really be seeing at the end? In the film we are always viewing the events through three mediums, our eyes, through the camera, which views those events through a virtual camera in the game. We can never be totally sure that the images we see represent the corresponding knowledge that we assign to it in our reality. Everything in eXistenZ looks exactly the same as our reality but doesn’t have the same meaning†¦. several tiers over. But whose eyes are we actually viewing these whole series of events from? A spectator. But who is this spectator? Are there testers ported into the game as mere observers? Are they developers or publishers? Or simply joe public who has no direct connection with the corporate mechanics of eXistenZ? In our reality, when you play a multiplayer game such as this and you die, you become a spectator†¦a ghost, until the end of the game, where you â€Å"respawn† (get another chance). Quite simply, whose interpretation of the events are we watching? Two quotes relating to music and technology but I believe are relevant; â€Å"†Liveness,† in short, whether defined in social or physiological terms, is not essential to musical meaning. On the other hand, it is equally clear that to record a work is just as much to interpret it as to perform it in any other way. † 3 Simon Firth â€Å"I don’t believe the engineer should intrude between the composer, or performer†¦Ã¢â‚¬  4 Goddard The â€Å"music† is the game, the â€Å"performer† being the people in the game, the â€Å"composer† is the game itself, the story and the â€Å"engineer† is the person or entity who is controlling our view of the final score (In game mechanics this could be referred to as the â€Å"Game Engine†, this decides what happens, how, why, when and where. ) The above quote can only exude one outcome, that the game should be viewed from each and every person by their own means in order to absorb the complete truth. Right now we are watching the events through someone else’s interpretation, each cut and angle change being a splice of the composition†¦a rewrite of the events. By the end of the film we find out unequivocally that because of this we have only half of the story. But we do realise that no matter what, the composition remains the same†¦. it’s just the way we hear it that is different. eXistenZ has what’s called a â€Å"linear† plotline but a â€Å"non linear† game play mechanic, there is only one outcome but the way in which you reach that outcome can have infinite possibilities, much like our lives. Existence is linear, but life is not. We will all die eventually, but how we die will have an infinite number of possibilities. A composer can write a piece of music that is the story, which never changes, but it is the performer and engineer that tell this story, depending on them both, the end will always be the same but the way in which the story is told will always be different. One thing that was mentioned by Walter Benjamin is that, â€Å"For the film, what matters primarily is that the actor represents himself to the public before the camera, rather than representing someone else. † 5 benjamin This maybe true, but the very nature of this film throws this ideal into chaos. The actors are playings actors in a film that has them playing actors in a game†¦that by the end of the film, has them playing actors of actors in some other situation. This quote I simply don’t agree with, it also seems to me that this is the complete opposite of what a method actor tries to accomplish on stage, which is to embody and represent someone else completely without thought. This goes against what Berger said about us relating what we see to what we know. If the actors on stage all represented themselves completely to the audience other than the camera before the part they were playing, then what we as an audience know about the character in relation to the actor playing the character conflict and ruin the immersion, it is easier to become someone else in front of the camera, that doesn’t know anything, than the audience that knows everything. The whole point of eXistenZ is to make you believe that these average people believe they are someone else who in turn believe they are someone else. At the end of the day this is what the object of the game was, to embody the character of someone else that has been thrust into a plot in a world that you have no knowledge of. This is the reason that people play video games. To escape the mundane trials and tribulations of everyday life and become a part of something that is out of the ordinary. Computer Generated Imagery, or CGI (CGI is a term that I find horrible, to me it is either Digital Animation or Digital Modeling, together Digital Media. CGI has connotations of the low tech ‘80’s to many people. ) is the main ingredient in this, where as the original way to escape was to either read a book, act in a play or hear a tale†¦now we are heading towards the era where you can become part of a tale that is ultra realistic. Where you can enter a virtual world that can fabricate the ends of your imagination and beyond. eXistenz is where the digital industry wants to end up, the applications of fabricating a reality that is false for individuals that cannot cope with the â€Å"real† thing are endless. If youre bored at work, why not become Bruce Willis during you’re lunch break? Want to experience terror? Port in and visit Silent Hill after a hard day at work. It all sounds simple enough, but right now we are at a point where we know for definite within our reality, where the line is between virtual and real. The day that our technology reaches the levels depicted in eXistenZ is the day that the troubles will start. This I think is one of the main lessons to me in this film. When do we say â€Å"enough† to technology? When do we stop? Or do we stop in one avenue and continue developing in others? A revolutionary game such as eXistenZ could wreak havoc on people who do not have the capacity to discern their reality from that of the software or hardware. It even has the possibility to blur the lines and boundaries you already have defined, or destroy your mental health completely. At the very end of the film we are enlightened to the fact that eXistenZ is not real, that it is a product of the game â€Å"tranScendanZ†. It is a game within a game within a film. The final line of the film â€Å"Are we still in the game† relates to how we see the world, relative. Who knows if that was the real reality or just the game, to me it looked very much like the two protagonists didn’t know either, or even questioned it. Perhaps they weren’t even â€Å"real† participants of the game, but mere NPC’s (non player characters). But this is where Digital Media is taking us, it’s job is to create the world as accurately as it can within the realms of it’s software, ironically designed by entities that are bound by laws of a universe not completely understood by the aformentioned but with none of the rules that limit our existence (The Matrix for example, identical reality, but the rules could be bent or broken by those who knew how to). For instance, if I wanted to walk through a wall right now I couldn’t, however, in a game it is as simple as typing a code into the console (usually â€Å"noclip 1†, 0 being false, 1 being true). But who is to say that I couldn’t walk through that wall now? Maybe it is as simple as being enlightened to the truth like Neo from The Matrix? In our lives we are exposed to images from the past, present and future that hold no bearing on our existence at that present time we experience them. But these images, performances or experiences can affect us in ways that we cannot perceive. The photographer, camera operator or composer does not know this either. But at the time of them creating these art works they are fabricating a reality and set of circumstances for others that have a multitude of meanings. There can be one definitive interpretation, but this will change depending on who is viewing it and how. Right now this essay almost makes sense to me, it may not make sense to you, but how do you make sense of things that have several meanings unless you were the person who conceived the premise in the first place? The answer is that you cannot. A picture taken one century for one purpose and meaning can translate as something else in another century. An actors affect in film during one era can mean something different on stage in the same era and an music studio can completely rewrite the meaning and feel of music without changing the notes or instruments. It is all down to perception. eXistenZ, Vanilla Sky, The Matrix, The Machinist, Gozu and many others all rely on images that are perceived as in any other art forms. Our own experiences colour the original â€Å"thought† of the creator, regardless of that creators perception.

Relationship Between Management And Shareholders Finance Essay

Relationship Between Management And Shareholders Finance Essay A lot of studies have been done in the matters of earnings management. It is because earnings management can be practice in many ways. There are several research done which covered the topic about earnings management and board characteristics(Saleh, et al,2005), board of directors and opportunistic earnings management (Sarkar et al., 2006), earnings manager and long term performance (Ho, et al 2006), earnings management in education (Misiewicz, 2006), earnings management and IPOs (Spohr, 2004) and so forth. Here in this assignment I put an interest on study of earning management and IPOs. Where I already found several related articles which cover the topic from several countries. The countries cover from the articles that I already found are IPOs in Finland, Japan as well as Malaysia. Before I discuss about earnings management in IPOs in depth, I also discuss about the relationship between management and shareholders. Then I discuss about definition of earnings management from different point of views. Beside that I also get to understand of earnings management through the mechanism as well as the loopholes in accounting standards the can caused the earnings management could happen. I also highlight several method of earnings management that familiarly practices. Eventually, I will discuss the issues of earnings management in IPOs that happen in Japan, Finland and Malaysia. LITERATURE REVIEW Relationship between management and shareholders Financial statements can be seen as medium of information between management of particular company and shareholders. Management is considered as workforces to achieve companies objectives. While shareholders represented as capitals supplier which generated the workforces in order to achieve the objective. Typically only public listed company should disclose their annual report to the shareholders or potential shareholder. The benefit gain from to be listed in any stock exchange are for additional funds, not only to finance further expansion and diversification as well as new projects as well as to reduce debts(Rahman and Abdullah, 2005). Beside that public will see the listed company typically have higher profile and greater visibility which confers greater investors confidence and publicity. The relationship between managers and shareholders in the business world cannot be disputable. This relationship is interpreted under Theory Agency (Bukit and Iskandar, 2009). They are very dependent each other, even somehow there exist conflict of interest among these two parties. In example the shareholders put on trust to agency by contributing huge amount of money in terms of paid up capital, so that agency can generate business and obtain profit and increase the firms value as principles return. Meanwhile agency (managers) is dependent to the principles for remunerations and bonuses as compensation (Bukit and Iskandar, 2009). Because of the great pressure from principles (shareholders) towards the high performance of firms values, so agency commonly practice earnings management in order to be sustained in market place (Jayati et. al.,2006). Definition of earning management Various optional opinions obtain from literature regarding earnings management. Bukit and Iskandar (2009) defined the earnings management may involve manipulation of accounting record, intentional omission or intentional misapplication of accounting o accounting principles. While, Mohanram (2003) define earnings management as the intentional misstatement or earnings leading to bottom line numbers that would have different in the absence of any manipulation. The Baralexis, S., 2004 advocates that earnings management is the process of intentionally exploiting or violating the GAAP or the law to present financial statements according to ones interests. The earnings management activities can break the reliability and credibility of management towards the shareholders. Earnings management is intrinsically related to earning quality (Lopes et al,2006). Schipper (1989) define the earnings management as a deliberate intervention of external financial accounting process with the intent of obtaining some private gain. Her argument of definition is based on a observing of accounting numbers as information. Within the opportunities offered by the accounting system, managers could exercise manage earnings by selecting accounting methods within GAAP or by changes in the ways given methods or policy (Ismail and Weetman, 2008). On the other hand, Healy and Wahlen (1999) define earnings management as an activity where manager used their discretion to adjust financial report either to misled stakeholders or for self interest. Earnings management also known as creative accounting or cooked the book may have twofold purposes. First to stop shareholders from withdrawing capital and second, as a means of reporting favorably on stewardship and performance (Devi et al., 2004). Perhaps, the main reason why companies use earnings management is because of the pressure placed upon management to show favorable returns on their investors money. This idea of seeking to please shareholders is reinforced by Agency Theory (Bukit Iskandar, 2009). Theory agency states that individuals seek to maximize their own utility, and act only in the individual best interest (Hooper et. al., 1998). So, acting in the companys best interest, management will manage the earnings to enhance their financial reporting, and therefore protect the basis of their contract (Mathews Perera, 1996). Pressure from management, therefore, may cause accountants and auditors to accept in producing favorable reports to shareholders using earnings manag ement techniques to improve results (Hussey,1996). Earnings management mechanism The practice of earnings management occurs because of the availability of different acceptability accounting accrual choice to be applied for determinant of reporting income. There are several mechanisms of implementing earnings management. First, is what they called as big bath. This type of earnings management is when the company could not reach their target in certain period. Normally companies target is based on previous performance. Then when firms are way below their target, they have an incentive to make things look even worse (Mohanram, 2003). There are several ways to make it worse such as the company will take large reconstructing charges, increase in provision for bad debt, and take other income decreasing accounting decision. This kind of practices are bound under two reasons which is firstly it is highly impossible that any amount of earning management will get them over the target and secondly the cost to make it worse are typically minimal. Therefore, any improvements in performance will perceive that managers are more credible and greater credit for turning around a firm. Some other way of perception regarding big bath is when manager takes over responsibility for a unit there is a motivation to make as much as provision that ensure any losses appear as the responsibility of the previous manager (Amat and Blake et al,1999) Second mechanism is what they called cookie jar accounting. This practice of earning management is when the company relatively to achieve above target, they may again have an incentive to reduce earnings. Typically there is little benefit in going way above a benchmark. Consider a firm which expects to report an EPS of RM3.80 for a given quarter when expectations hover around RM3.00. Especially when economic boom-up. Such a firm may report an EPS of RM3.30, but it still beating expectations. The remaining 50 cents of EPS reduction may come in handy in future quarters when the firm is slightly below targets. By reducing current period income, firms implicitly save some of these excess earnings for the future when they may be more valuable. The mechanism of the earnings management can be illustrated as below: Sources: Mohanram, 2003 Standard board point of view Earning management also be called as creative accounting. Creative accounting enable managers to cook the book and window dress their company by taking advantage of the loopholes in accounting standard. Due to this activity of earning management and thus provide doubtful of information in financial statement, so such information become unreliable. Therefore the users of financial statement will make wrong decision based on manipulated accounting numbers. Unfortunately, GAAP make such a room to accountant to make a manipulation since it allow accountants to use their discretion to make decision which is needed. In addition creative accounting is not against the law, in the hands of less a scrupulous managements, it can be dangerous instrument of deception (Naser, 1993). The common methods used by changing the assumptions for accounting standard. Methods normally applied for manage the earnings The very common method of manage earnings that normally applied by practitioners is as below: Changing the assumptions for accounting standards. For example Change in depreciation policy by extending depreciable lives periodically and justify it on the grounds that the change brings them in line with industry standards. Capitalization of expenses that previously expensed, increasing the extent of capitalization, slowing down amortization of previously capitalized expenses Reducing the provisions for bad debts. This is what people say of accrual discrepancies. Reducing income by taking on large one-time charges. For example restructuring charges. Managing transactions, whereby companies will create last minute sales by sending up a bundle of inventories to the customers by free charge for 3 months (let say) and recorded in a book of account receivables. Earnings managements and IPOs-Evidence from Finland This study had been made by Sphor (2004). His study had been used a sample companies on 56 firms that went public in the years 1994 to 2000 on Helsinki Stock exchange. The author want to prove that there is a presence of earnings management in initial public offerings (IPOs) of Finnish firms. Virtually, there is several studies have documented the presence of earnings management in IPO firm (e.g. Friedlan,1994, Teoh, Welch and Wong, 1998 and Aharony, Lee and Wong, 2000). The reason for such study is in IPO normally the earnings management practice difficult to detect from the income statement and the balance sheet, thus investors would benefit from other information that reveals the probability of earnings management. It is because managers and owners incentives to manage earnings are used to assess the likelihood that earnings management is used before IPO (Spohr, 2004). According to Aharony et al (2000), the earnings management likelihood in Chinese IPO firms varied across industri es and listing location. They suggest the noted differences in opportunistic behavior to be a result of mangers incentive to manage earnings and their possibilities to do it without detected. IPOs are priced by discounting the companys future cash flows and by observing the market values of similar publicly traded companies. At the time of their IPOs issuing companies seem to sell below market rates as their share prices are often underpriced, meaning that their value at the close of day one trading is higher than the initial price of the stock (Ritter, 1991). During the high IPO activity period that ended in year 2000 the initial returns were on average high. The in Finland found, the biggest initial profit was generated by F-Secure whose stock rose on its first trading day on November 5, 1999 from the initial offering price of 7.70 euros to 27.45 euros. The initial underpricing of Initial Public Offerings(IPOs) fits poorly to the long-term return on IPO shares. Ritter (1991) shows that IPO firms on average give poorer three-year returns than other listed firms in comparable sizes and industries. He explains this weak return on IPO shares with timing. Firms time their IPOs to the periods when the market overprices the firm, its industry and IPOs in general. The weak share performance after the IPO can also be explained with earnings management. If the firm before the IPO artificially boosts its value through managing earnings, the market will sooner or later find out the true performance of the company and devalue its shares. Compared to bad accounting or simple randomness, the distinguishing feature of earnings management is the presence of intent. Studies identifying earnings management usually make the assumption that intent is present in the circumstances where the tests are made. In research testing for earnings management in IPO firms it is assumed that it is capital market motivations that drive the firms to earnings management. The aim is to maximize the companys equity value and through this increase the owners wealth and reduce the companys financing costs. The most commonly used method to test for earnings management is the examination of accruals because they are easier to manipulate than cash flows. Abnormal accruals are considered as a sign of earnings management. The major problem in earnings management studies is how to determine if accruals are abnormally high or low. Most models used to estimate the normal level of accruals base their estimations on the firms past accruals or comparable firms accruals. In the literature the normal and abnormal accruals are usually called nondiscretionary and discretionary accruals. In particular, the research based on U.S. data provides strong evidence of discretionary accruals in IPO firms. Additionally, Teoh, Welch and Wong (1998) show that discretionary accruals can be linked to companies long term stock market performance and thus challenge the efficient market hypothesis, as the market fails to account for the manipulation. When they grouped firms by the magnitude of discretionary accruals before the IPO, they found that firms in the quartile with the lowest discretionary accruals (negative) outperformed the market by about 4% over three years, whereas firms in the quartile with the highest discretionary accruals underperformed the market by about 25%. To date there have been at least three studies on earnings management in Finnish IPOs which from Ora (2000), Eriksson (2001) and currently Spohr (2004). First study is to showing that earnings management has been present in Finnish IPOs, Ora (2000) investigates if there is any difference in earnings management behavior between 1980s and 1990s IPOs. Her results indicate that earnings management seems to have vanished in the later period. Applying a total accruals measure Oras tests are affected by the substantial changes in discretionary reserves that Finnish companies could use for managing earnings. These visible forms of earnings management vanished gradually in the 1990s due to the accounting legislation reform. Second study done by Eriksson (2001), whereby the tests for earnings management on a similar sample to this study and uses a financial ratios model called the Beneish M-score. The higher the M-score the higher is the likelihood that earnings management has occurred. Erikssons M-score averages of the sample indicates that no earnings management were present in the financial year closest to the IPO. Finally finding obtain from Spohr (2004), the firms ownership structure and the pre-IPO owners share of ownership decrease in the IPO were used to formed expectations about the likelihood of finding earnings management before the IPO. Earnings management was hypothesized to be present in the entrepreneur owned but not in the institutionally held firms. Furthermore, the probability of earnings management was assumed to be related to how much the entrepreneurs ownership decreased in the IPO. The profitability of the total sample of 56 Finnish IPO firms showed a relatively high level of profitability in the critical period for which earnings management was tested when compared to three periods before and after the critical period. The most significant change in profitability occurred in the entrepreneur firms after the IPO. To answer the question of whether high profitability was only a result of successful timing, earnings management tests were conducted on accruals. The results suppor t the hypothesis that entrepreneurs manage earnings before the IPO. In contrast to expectations, earnings management behavior seemed not be affected by how much of their ownership entrepreneurs gave up in the IPO. In the institutional owned IPO firms, no evidence of upward earnings management before the IPO was found. The limitation of the study is the sample is small. Earnings managements and IPOs under pricing -Evidence from Japan This study had been done by unstated authors in the year 2010. The study is based on the sample of 910 firms that went public in Japanese market between 1995 and 2005. The area of the study is would like to seek whether initial public offerings (IPO) are undervalued or overvalued using comparable firm multiples, (2)whether and how earnings management affects under or overvaluation, and (3) whether and how under /over-valuation and earnings management affects IPO under pricing. The underpricing phenomenon is such of common controversy covered in previous literature on Initial public offering companies over the business world. It is well known when companies go to public, the price at which investment banker sells the stock to investors in generally below the price at which the stocks trades in the secondary market shortly thereafter, resulting in a substantial price jump on the first day o trading. The meaning of IPOs underpricing is does not mean of undervalued (Purnanadam Swaminath an, 2004). The case in Japan the authors had examined whether Japanese IPOs are undervalued or overvalued using comparable firms multiples, similar method as done by Purnanadam and Swaminathan (2004). Then he investigates the relation between under or overvaluation and first-day return (underpricing). Later on, they identified the way of earnings management affects under or overvaluation and underpricing. Lastly the authors found that about 60 to 70% of Japanese IPO firms are undervalued relative to their industry peers, and most of undervalued firms have positive first day return consistent with the asymmetric information models of underpricing. On the other hand, overvalued firms consisting of 30-40 % of IPO firms also earn 7% to 12% higher first day return, and pre-IPO year abnormal accruals and the magnitude of underpricing are positively correlated when firms are overvalued. These findings suggest that IPOs are overvalued more in hot issue periods when investors tend to be optimistic about the future performance of the IPOs, while underwriters undervalue IPO firms in usual market condition. Earnings managements and performance towards IPO companies Issues in Malaysia This IPOs issue on earnings management was revealed by Rahman and Abdullah (2003). They are trying to identify the causes of firms issuing equity produce poor returns to investors in the long run by exploring the potential opportunities for earning management during the period prior to the public listing and its correlation with initial listing and post issues performance. The study covered 187 IPO valid firms identified from Bursa Malaysia Investors digest since January 1989 upward to December 1998. There are various of industries selected including tradings and services, Consumer product, construction, Properties, Infrastructure and Project companies, plantation, industrial product and hotels. The method used in this study is similar with previous study made by Abdul Rahman(2000), Tay (1993) and Ritter (1991), whereby this study is measuring abnormal return using a buy-and-hold returns approach. The Abnormal return are calculated based on the difference between holding period returns of sample IPOs firms and control companies. Further the study focuses on current accrual as the source of earning management. The types of accrual is whether discretionary accrual or non discretionary accrual. This justification is based on the definition of discretionary accrual itself which is those manipulated earnings that are determined at the discretion of management (Dennis and Michel, 1996 and Teoh et al,1998). The example of discretionary accrual the changes in allowance for doubtful account because on managements interest. According to Teoh et al (1998) the discretionary current accrual are actually superior proxy for earnings management. While in contrast the nondiscretionary accrual is the change as a result of managements accounting decisions that are of interest to the firm (Rahman Abdullah, 2005). As stated example, during the economic growth, one would expect accruals such as account receivables and account payable to change as sales increase without earnings management occurring. The most interested in this issue on IPOs is whether the investment activities in such companies will benefit investors who invest in the company. There are several studies whether done in overseas or Malaysia has been shown that IPO is a wealth reducing investment to investors in the long run. The evidence have been seeking in US whereby they found that IPO as poor long run investment for investors (Ritter, 1991; Loughran and Ritter, 1995 and Teoh et al, 1998). Also have been proven this similar issues happen in Malaysia of poor post issue performance (Ku Ismail et al, 1993 and Pok et al, 2000). The result of the study by Rahman and Abdullah (2005), found that IPO in the average have experience significant positive abnormal return relative to the non-IPO firms during the initial period if the measuring taking to consider of offering price to the end of the day listing price. However the IPO firms is obtain significant negative towards share return relative to their control firms during the first, second and third year following their initial listing on Bursa Malaysia. To solve the research question to why firms issuing equity produce poor returns to investors in the long run, the authors found that Malaysia IPO firms manage their earnings upwards in the year prior to public listing on Bursa Malaysia. Furthermore, those IPO firms that manage earnings are not significantly different between industries but are significantly different between the Main and Second board. Subsequently, the result on their study in relation between prior earnings management and post issues share return performance after the initial public listing is no significant relationship. The result sustain with respect to IPO firms with high or low level of earnings management. In addition according to the Rahman and Abdullah (2005) there is no evidence to suggest that the pre offerings earnings management is able to predict the abnormal returns during the initial period and over one to three years following equity offerings. This argument actually had supported from previous literature made by Ku Ismail et al. 1993 and Shivakumar, 2000), whereby they mentioned that the positive abnormal return during the initial period may be due to the underpricing by underwriters and also as a result of asymmetric information among investors during the announcement period. The result of positive share return at the initial period is actually contradicted with the literature from Teoh et al (1998). He argues that the investors are unable to fully understand managerial earnings at the time of equity offerings and ends up a high offer price. The possible reason of negative significant post issue return one to three years after listing may be due to the unfavorable earnings revealed by media, analysts report and financial statement after the offering(Rahman Abdullah 2005). CONCLUSION In a review of earnings management in IPOs literature, Spohr (2004) and Rahman and Abdullah (2005) are identify a range of potential significant incentives to undertake earnings management. It is including contracts written in terms of accounting numbers, capital market expectation and valuation and government actions. Managers of an IPO company probably motivated to manage earnings in the reporting period following the IPO in order to align more closely with the prediction for the period (Ismail Weetman, 2008). In addition, Ismail and Weetman also found that managers also motivated to manage earnings to increase their short term wealth at the expense of the long term value of the firm. According to Rahman and Abdullah (2005), IPO companies have an opportunity in manipulating offering-year discretionary current accrual and non discretionary current accrual. I noticed here there are several opinions regarding the IPOs market return begin with when company went to public upward to three years later. Therefore the investors in particular should concern with any information announced by the firm before attempting to invest. There are some evidence mentioned that the investing in IPO is kind of short term wealth. This could be happen because there is an existence of earnings management in their operation in order to meet the requirement by Securities commission.

homes Essay example -- essays research papers

Except for the fairly elaborate chieftains' houses, Greek dwellings remained simple through classical times. A passageway led from the street into an open court off which three or four rooms were reached, the whole being fairly small in scale. The Roman houses, as seen, for example, at Pompeii, also stood at the street's edge. Past a vestibule was an open space called the atrium, from which the sleeping rooms were reached; a colonnaded garden often stood in back. In ancient Rome most people lived in the equivalent of apartment houses, three to five stories high, with apartments ranging from three to six rooms; some were like tenements, others were elaborate. At ground level were rows of small shops. The rich had huge villas outside the cities that were composed of living quarters and pleasure pavilions. IV. Houses of Medieval EuropePrint section This comparative sophistication in housing disappeared during the so-called Dark Ages in Europe. Although castles and primitive manors housed many people, most of the remaining population were packed into simple, unsanitary dwellings huddled within the walls of small cities and towns. The countryside was unsafe, and agriculture and population both declined; the prosperous farms of classical antiquity disappeared. Slowly, after AD1000, conditions improved, first around the great monasteries and then in the expanding cities. The rise of a prosperous mercantile class resulted in the construction of large town houses and in due time country manors. Comparatively peaceful conditions brought some improvement in housing for farm serfs, but the living conditions of the poor town-dweller continued, on the whole, to be miserable. By the end of the Middle Ages the concept of the palace had evolved from the idea of the grand town house. These palaces were elaborate dwellings for ranking ecclesia stics, merchant princes, or ruling families; they might occupy a whole block and contain, in addition to ceremonial and private apartments, quarters for large numbers of retainers and hangers-on. V. From the Renaissance to the 19th CenturyPrint section The palace was perfected during the Renaissance and remains one of architecture's most enduring images, a dignified, large-scale city element that has been adapted and repeated ever since. Palaces were first built in Florence, Italy, and then throughout the Western world. In France... ...ouses that broke with historical architectural styles were slow to be accepted. As early as 1889 the American architect Frank Lloyd Wright built a house embodying new concepts of spatial flow from one room to another. He and others, both in Europe and in the United States, soon moved toward a domestic architectural style of metric forms and simplified surfaces largely free of decoration. Contemporary changes in painting and sculpture were allied to this movement, and by the 1920s modern architecture, though by no means universally accepted, had arrived. Glass, steel, and concrete reinforced with steel gave architects many new design options, and by the mid-20th century the modern house was commonplace. Glass boxes, freely curving styles, and stark, austere geometric forms were all possible; but at the same time traditional styles persisted, and in the U.S. many homeowners found a more or less standard, one-floor, two- or three-bedroom ranch house satisfactory. VIII. Houses of the Far EastPrint section House types in India vary greatly according to region, climate, and local tradition. The villages have courtyard houses as well as simple, single-volume dwellings; in the cities,

The Dopamine Hypothesis of Schizophrenia Essay -- Biology Essays Resea

The Dopamine Hypothesis of Schizophrenia Schizophrenia is a disease that has plagued societies around the world for centuries, although it was not given its formal name until 1911. It is characterized by the presence of positive and negative symptoms. Positive symptoms are so named because of the presence of altered behaviors, such as delusions, hallucinations (usually auditory), extreme emotions, excited motor activity, and incoherent thoughts and speech. (1,2) In contrast, negative symptoms are described as a lack of behaviors, such as emotion, speech, social interaction, and action. (1,2) These symptoms are by no means concrete. Not all schizophrenic patients will exhibit all or even a majority of these symptoms, and there is some disagreement in the psychiatric community as to the exact diagnostic criteria. In addition, there is a great deal of debate as to the causes of the disease. While some proposed causes have been proven false, such as bad parenting and poor will power (2), there are many theories that remain. One of the most famous and most debatable is the dopamine hypothesis. The proposed hypothesis states that the brain of schizophrenic patients produces more dopamine than normal brains. It is this increased dopamine that is believed to be responsible for the symptoms of the disease. However, the is much debate in the scientific community as to the exact mechanism by which altered dopamine levels, especially in the prefrontal cortex, striatum, and limbic system, produce schizophrenia. There is much clinical evidense that provides support for the dopamine hypothesis. The first evidense that dopamine may be involved in schizophrenia came from amphetamine users. Amphetamines work by causing the brain to produce mo... ...ital Cortex: Focal Abnormalities in Orbitofrontal Cortex in Schizophrenia" From Meador-Woodruff Laboratory Homepage (University of Michigan) http://www-personal.umich.edu/~himmw/pubs/index.html (5) "Detailed Description of Our Studies" From Meador-Woodruff Laboratory http://www.umich.edu/~jmwlab/ (6) "Dopamine, Glutamate, and the Neurochemical Circuitry of Schizophrenia" From Department of Psychiatry Homepage (University of Michigan) http://www.med.umich.edu/mhri/res/95/meadorwoodruff/meadorwoodruff.html (7) "Schizophrenia 'Trigger' Described" From NARSAD Homepage http://www.mhsource.com/advocacy/narsad/trigger/html/?_requestid=1006565 (8) "Altered Neural Circuits in Schizophrenia" http://www.mentalhealth.com/mag1/fr51.html (9)Rosenzweig, M.R., Leiman, A.L., & Breedlove, A.M. Biological Psychology. Sinaur Associates Inc: Massachusetts, 1996

Nationalism in the 19th century

Nationalism is a term used to identify two phenomena. First, it describes the attitude of individuals towards their nation which result to the rise of national identity. Second, it pertains to the action that members of a certain nation take in order to achieve the sustainability of self determination (Miscevic). During the era of industrialization and urbanization in Western societies, nationalism emerged as one of the most successful political forces. Nationalism became the foundation with which western societies were organized. Between the years of 1850 and 1914, the establishment of nation-states gained the support of all social classes. Hence, the equilibrium in the international political power arises. The masses were diverted towards governance that does not adhere to the class war socialist doctrine. In France, Napoleon III spearheaded the successful campaign for nationalism. During his mild dictatorship for nearly 20 years (1852 to 1870), Napoleon promoted the idea that national states and the programs provided by the government could appeal to all social classes such as the rich, the poor, the conservative, and the radical. Consequently, Napoleon’s political initiative became a landscape where national states became an avenue for the rapid changes in politics and economy (Lloyd). In 1860, Count Cavour, the nationalist leader of Sardinia unified majority of the areas in Italy. His initiative to promote nationalism resulted in Italy’s emergence as a single political state without the use of drastic actions in addressing economic and social matters. Two years after, Prussia hailed Otto von Bismarck as the country’s chief minister. Under his leadership, the states of Germany were unified into a single political state under the Prussian governance. This was only made possible after Bismarck fought three wars. The unification of the states of Germany strengthened the pride of nationalism. Likewise, the country attained an anti-liberal and conservative force (Lloyd). In order to attain national identity, the United States competed for national aspirations which eventually led to the civil war. A slave-based cotton industry in the south expanded rapidly right after new lands were utilized for industrialization. Thus, the south was able to generate much demand from cotton production. Due to this, a conflict emerged between the people from the south and the north’s urban culture and family farm agriculture. The triumph of north against the south marked the end of slavery. However, land reforms and racial discrimination were not totally addressed (Lloyd). Nationalism also played an important role in the lives of Russian. Right after the Crimean War, major reforms were put forward. In 1861, the freedom of the serfs was attained. Likewise, the government spearheaded the development of modern industries and railroads (Lloyd). As nationalism continued to grow, most of the politicians and national governments responded accordingly in order to strengthen and meet the demands of the people. Because of nationalism, most of the Western societies managed to promote reforms that appeal to all social classes. Works Cited Lloyd, Jim. â€Å"19th century nationalism.† Fresno Unified School District. 2008. 28 October  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2008 . Miscevic, Nenad. â€Å"Nationalism.† Stanford Encyclopedia of Philosophy. 24 September 2005. 28 October 2008 .   

Qnt 561 Week 1 Problem 81

a) The Ludlow Wildcats baseball team, a minor league team in the Cleveland Indians organization, plays 70 percent of their games at night and 30 percent during the day. The team wins 50 percent of their night games and 90 percent of their day games. According to today's newspaper, they won yesterday. What is the probability the game was played at night? % of games played at night = 70% % of games played during day = 30% % of night games won =50% % of day games won= 90% Probability of winning = Probability of winning at night + Probability of winning during day = % of games played at night x % of night games won + % of games played during day x % of day games won = 70% x 50% + 30% x 90% = 0. 35 + 0. 27 = 0. 62 Probability that the game was played during night given that the game was won = Probability of winning at night / Probability of winning = 0. 35 / 0. 62 = 35/62 Answer: Probability = 35/62 This can be understood in a different way Let the number of games played be 100 Out of these 100 games, 70 games were played at night and 30 during day Out of 70 games played at night no of games won = 50% x 70 = 35 games and the number of games lost = 50% x 70 =35 Out of 30 games played during day, no of games won = 90% x 30 = 27 games and the number of games lost = 10% x 30 = 3 Thus total games won = 35 + 27 = 62 (Total games lost = 35 + 3 =38, but this is not required for calculation) Thus out of 62 games won , 35 were won at night Thus probability that the game was played at night, given that the game was won = 35/62 b) With each purchase of a large pizza at Tony's Pizza, the customer receives a coupon that can be scratched to see if a prize will be awarded. The odds of winning a free soft drink are 1 in 10, and the odds of winning a free large pizza are 1 in 50. You plan to eat lunch tomorrow at Tony's. What is the probability: 1. That you will win either a large pizza or a soft drink 2. That you will not win a prize? 3. That you will not win a prize on three consecutive visits to Tony's 4. That you will win at least one prize on one of your next three visits to Tony's We have to convert odds into probability Probability = odds / (1+ odds) Odds of winning a free soft drink are 1 in 10 Therefore, probability of winning a free soft drink = (1/10) / (1 + 1/10) = 1/11 Odds of winning a free large pizza are 1 in 50 Therefore, probability of winning a free large pizza = (1/50) / (1 + 1/50) = 1/51 What is the probability: 1. That you will win either a large pizza or a soft drink The events winning a pizza and winning a soft drink are mutually exclusive (since you can either win a pizza or you can win a soft drink but not both at the same time as you have only one coupon ) Probability of winning either a large pizza or a soft drink = Probability of winning a large pizza + Probability of winning a soft drink = 1/51 + 1/11 = 62 /561 = 0. 11 or 11% 2. That you will not win a prize? Probability of not winning a prize = 1- Probability of winning a prize = 1- 62/561 = 499/561 = 0. 9 or 89% 3. That you will not win a prize on three consecutive visits to Tony's Since the events of winning / not winning on consecutive visits are independent events we will multiply the probabilities Probability of not winning a prize on three consecutive visits = Probability of not winning on first visit x Probability of not winning on second visit x Probability of not winning on third visit = (499 /561) x (499 / 561) x (499 / 561) = (499/561) ^3 = 0. 70 or 70% 4. That you will win at least one prize on one of your next three visits to Tony's Probability of winning at least once = 1- probability of not winning even once = 1- (499/561) ^3 = 0. 30 or 30% c) There are four people being considered for the position of chief executive officer of Dalton Enterprises. Three of the applicants are over 60 years of age. Two are female, of which only one is over 60. 1) What is the probability that a candidate is over 60 and female 2. Given that the candidate is male, what is the probability he is less than 60 3) Given that the person is over 60, what is the probability the person is female Out of 4 applicants Male = 2 (both over 60) Female = 2 (1 over 60, 1 less than 60) 1) What is the probability that a candidate is over 60 and female Out of 4 candidates only 1 is both female and over 60 Therefore probability = ? = 0. 25 or 25% 2. Given that the candidate is male, what is the probability he is less than 60 Both male candidates are over 60 therefore probability = 0 3 Given that the person is over 60, what is the probability the person is female There are 3 persons over 60 out of which 1 is female Therefore, probability = 1/3

Malcolm X, Dr. Martin Luther King and Bobby Seale Research Paper

Malcolm X, Dr. Martin Luther King and Bobby Seale - Research Paper Example The difference was the way each man promoted equal rights. Martin Luther King Jr. thought peaceful resistance was the way. He led boycotts to fight Jim Crow laws. He believed in integration. Malcolm X preached hate and segregation from the ‘white devils’. He wanted equal rights without integration. Bobby Seale believed in action. He protected his neighborhood through violence. The Black Panthers incited riots, most notably at the Democratic Convention. Another major difference that impacted each man’s views was religion. King was Christian. Malcolm X was a Muslim. Bobby Seale did not really have a religion. The Black Panthers followed a more Marxist path. Martin Luther King Jr. and Malcolm X were both assassinated. Bobby Seale is still alive. King and Seale came from the South, but Malcolm X came from the North. King and Seale had fathers that worked and homemaker mothers. Malcolm X was from a broken home and even ended up in foster care. Seale served in the military, but the other two did not. The SCLC helped the Civil Rights Movement most in terms of gathering positive attention to the cause. The Nation of Islam inspired a fear in both black and white Americans. The Black Panthers incited violence that led to the gangs of

Why is strategy important to business Essay Example | Topics and Well Written Essays - 500 words

Why is strategy important to business - Essay Example ment with the knowledge of the way individual activities and organizational personnel are interlinked and connected to obtain the business objectives. The strategy sets the direction for business depending upon the threats and opportunities of the macro environment as well as the micro environment. The needs of a business change in reaction to the changes of the environment. There are numerous entities that bring a change in the environment. Such entities include but are not limited to the competitors, customers, stakeholders, rules, legislations, and political, technological and socioeconomic factors. With an increase in the change of the environment, there occurs an increase in the number of opportunities and threats for the business. Business does not only need to have a strategy in case of a change. Even with a stable environment, the stakeholders’ activities and intentions alter, thus causing a need for the business to review the current events and gauge the efforts to cr eate value for the consumers. The most fundamental element of strategy in the business is planning. Planning is an outcome of estimation. Estimation and assessment form the basic level of the strategic management process. First of all, the manager studies the scope of the product or service in the area that is intended to be produced from the business. Assessment of the buyer behavior aids the development of successful strategy (Pearce, 2008, p. 119). After this, the past, present and future trends in the design are reviewed with an aim to develop an innovative design that provides the customer with a product or service previously unseen or unused. The development of design and the product involve prudent planning and scheduling and usability of the resources. Once the product or service has been developed, no more than 50 per cent of the work is done. The rest of the 50 per cent is about the advertisement of the product or service. This is the most crucial step in the process of strategic

Solar energy and environmental impacts Research Paper

Solar energy and environmental impacts - Research Paper Example Solar energy is copious in the earth and it suggests important potential for the alleviation of climate change; therefore, it is desirable due to its inherently small burden on the environment and has opportunities for positive social impacts. This is further helped by the fact that the cost of solar technologies has been reduced to significant proportions and technical advances coupled with favorable public policies that has resulted into reduction of costs. The use of solar technologies has the advantage of having low lifecycle greenhouse gas emissions when compared to other forms of fossil fuels. This is because the production of solar energy through the photovoltaics (PV) emits no pollution nor does it emit greenhouse gases (Fell, 2012). Moreover, it has the effect of improving the health and livelihood of most of the world’s poorest neighborhoods as it addresses the gaps that is not filled by the available modern energy services (IEA, 2010). Environmental Impacts A report by The Wall Street Journal stated that the development of solar on lands that are deemed desert by disturbing the caliche deposits found underground leading to the release of carbon dioxide in the atmosphere. A similar study has equally found that the development of a solar plant could cause emission of about 6000 metric tons of carbon each year from the disturbance caused by the plant (Wall Street, 2010). Forests play a crucial role in the life of both plants and animals and hence any form of deforestation hinders the proper functioning of these species thus damaging the atmosphere. The role played by forests in human life cannot be gain said and therefore when they are cut to create room for solar plants, the absorption of carbon dioxide ceases or the carbon stored in the trees is released into the atmosphere when the tree is left to rot or is burnt. This has the overall effect of occasioning carbon dioxide build-up in the atmosphere that eventually leads to climate change. This is what happens during the installation of large-scale solar-power projects as ecosystems are interfered with when huge tracts of land are put in use. Forests have to be cleared to prevent shading of solar panels and allow for easy installation of solar posts. The removal of the forests thereafter leads to a change in the natural carbon sequestration rate that thereafter affects the amount of carbon dioxide emitted in the atmosphere. It is important to note that land use will ultimately affect the climate of a place including the local climate, microclimate and the temperature of the surface of land. Therefore, when solar panels which usually have low reflectivity and utilizes or converts large amounts of solar insulation into heat, there is the likelihood it may affect the global climate or the climate of a particular place. To minimize the effects that come about because of land use, it is important that when a solar installation is to be put in place by any stakeholder, the land selected should be in areas with low population density that translates into a low environmental sensitivity. Solar Energy and Climate Change The use of solar energy has an advantage in the sense that carbon savings derived from the use of solar energy outweighs the development of this form of energy. This means that a solar plant can save nearly 560, 000 metric tons of carbon per year (Wall Street, 2010). There is therefore a need to expand the solar power potential in order to meet the climate