Justice Is Under Threat in the Risk Society’, Is Barbara Hudson Right to Argue This?

‘Justice is under threat in the risk society’, is Barbara Hudson right to argue this? In the UK the state advised what it expects of us and in response to this gives us laws that we are not legitimate to disobey. We currently live in a de facto and de jure state where no one else can take part in violence apart from the state when needed, and the laws are seen as just. From the seventeenth century to the late twentieth century there has been a change in society creating a modernist era which saw the ending of feudalism and the devotement of capitalism. Hudson, 2003:3) This period saw changes in the way individuals lived their lives and viewed the world; there were political changes and systems of punishment. The changes stirred ‘political, moral and legal philosophy – the fields at whose intersection we find justice. ’(Hudson, 2003:3) This essay will highlight the reasons why Barbara Hudson is right to argue that justice is under threat in the risk so ciety. It will first outline Kant’s and Rawls’s theory of justice and it will then look at what risk society is.Finally it will compare if justice and the risk society are compatible using DSPD as a case study. Immanuel Kant was an enlightenment philosopher in utilitarian liberalism. He had many theories what justice is and what this means and theories on how this affected punishment. He used the devolvement of enlightenment to search for the measure of justice, whereby humans are seen as rational and capable of analysis and decision making. (Hudson, 2003:5) Previously issues for justice for liberal democracies had been about the distribution of material and social goods. Hudson, 2003:6) However, for Kant his theory of justice revolved around the idea of individual freedom and equal freedom for all. He believes as we are all rational and capable of making are own decisions that we can all abide by the moral law. Kant’s moral philosophy is based on what he calls the categorical imperative, where he says ‘Always act in such a way that you can also will that the maxim of your action should become a universal law’ (Kant, 1987:2) Meaning that you should treat people as you would want to be treated, and not to an end to a means, if we do not treat people as equal then there is no justice.Rawls was a contemporary liberalist who was a student of Kant’s who looked to an alternative to utilitarianism in his theory of justice. (Kymlicka, 2002:53) His approach was intuitionism theory which he said had two features, that they consist of plurality of first principles and that they include no explicit methods and we are simply to strike a balance by intuition to what seems right. (Kymlicka, 2002:54) Rawls had two principles of justice; the first was that ‘each person is to have an equal right to the most extensive scheme of equal basic liberties compatible with a similar scheme of liberties for others. (Kymlicka, 2002:56) He sta tes when making decisions we should mentally put ourselves behind a veil of ignorance for all members of society to agree, as this would lead everyone in society to be treated more fairly as they would not know where in society they would be placed therefore limiting their risk. This way you could distribute goods completely fair without discriminating against anyone and by doing so you would end up with a system in which you would make sure the worst off are as well of as possible as we would not know which group we were going to be in; the rich or the poor group of society. Baggini, 2005:29) Rawl’s second principle of justice are that social and economic inequalities are to be arranged so that , they are to be the greatest benefit to the least advantaged members of the society and offices and positions must be open to everyone under conditions of fair equality of opportunity. Therefore since there will be always discrepancies, members of society would agree to take part as again they would not know which group of society they fall into and by removing all inequalities to which disadvantage someone thus creating a more just society.Thus for Rawl’s, justice equals fairness and fairness equals proportionality. Risk Society theory was developed to claim why and how society is changing. Becks and Glidden’s contended they have been changes in how society works and suggest that we are now living in a society of risk. Risk society is not suggesting that we live in a world with more risk but that our perception of risk has become a key factor in our organising principle. Cited in Hudson, Ericson and Carriere say ‘We now live in a risk society; there is a drift in the public agenda away from economic inequality to the distribution and control of risks. (Hudson, 2003:43)There are seven key concepts to the risk society; Modernity, Late Modernity, Reflexive modernisation, Manufactured uncertainty, Actuarialism, Risk distribution and Individuali sm. Late Modernity is the term used in the contemporary era showing the transformations in societies whereby there has been shift towards capitalist economies and globalisation rather than welfare approach. With late modernity you are able to look back at what had been done and use this to help you predict how to change in the future to limit your risk. Denny, 2005:28) Reflexive modernisation and manufactured uncertainty was a concept developed by Becks and Giddens who are key risk society theorists. They explain that with development of technology, this has created new and different risk and the technology we have makes us more aware of the potential risk, as the media is no longer just in the form of newspapers and television, we have access on computers and even mobile phones therefore we are able to see and hear potential risks 24 hours a day. Adam et al, 2000:168) However, because we have made this risk with the devolvement of technology then we are able to understand it better and assume we can measure them. They apply the concept of Actualarism that categorise populations according to risk, with this concept we can measure the risk and the likelihood of them happening and by doing this we can take steps in reducing and avoiding these risks. A fundamental concept in the risk society is that to avoid risk we can distribute the risk which is part of neo-liberalism.This can be seen to be used in everyday life with car insurance companies who charge an individual more money in according to the risk they pose whilst driving . Risk has become a fundamentally commodity in a capitalist society. Risk society means that risk thinking has become normalised for individuals in everyday life, every decision we make we think about the risk connected to it. The rise of individualism has seen that individuals will purchase the best risk protection they can without thinking about the weaker person in society.Hudson states that we now fear crime from one another and becaus e of this we want people who threaten us to be removed from our environment to eliminate the risk, this has been a contributing factor to why society has become more punitive. (Hudson, 2003:45) In the risk society governance is directed at the provision of security and experience of security usually rests on a balance of trust and acceptable risk in the form of guarantees and predictability. These risks become objectified negative images of utopias where people are no longer concerned with obtaining the good but rather, preventing the worst.A key question for liberal theorists is how much liberty should be traded for the level of security. In today’s society the state controls and governs the way in which we live our lives. Society has handed over the power to the state through a social contract whereby we give up some of our liberty in the hope the government are able to protect us from potential risks. One of the effects of this is that we let the government control how the y punish offenders.Bentham and Kant, two unitlitarists held different views on Punishment, For Bentham he said it is inherently bad, Bentham, a ulitarian and theorist for punishment stated, cited in Ashworth ‘that moral actions are those that produce the greatest happiness of the greatest number of people. ’(Ashworth, 2010:79) ‘Therefore to justify punishment we must do so by showing its utility. However Kant thought that punishment was good and there was a duty that the offender got their just deserts through his principle of equality. (Duff and Garland, 1994; 141) The reason for punishing must serve as a justification for that punishment.The just dessert model means that you should get the punishment you deserve by receiving a sentence that it is proportionate to the offence you have committed. (Scott, 2008, 199) Indeterminate sentencing which is associated with utilitarianism is linked to the risk society and justice, as because they believe we can measure risk they think we can make predictions for future crimes. However, by punishing someone for a crime they have done this in turn will help reduce crime in the belief that fear will stop others from committing the same crime. Honderich, 2006:26-27) However, it is immoral and there is no justice to give someone a harsher sentence and make an example of them in the hope of helping to deter others from the same crime. Hirsch’s study found that harsher sentences do not deter others and reduce crime rate. (Hirsch, 1999:3) Indeterminate sentences transgress the reason and justification for punishment, by admitting guilt for the initial offence they assume they are guilty of reoffending therefore are given longer prison sentences for the good of society this cannot be just..A problem for justice when punishing an offender is the need to address justice for whom; the offender or victim, what constitutes justice for the victim will not mean justice for the offender there will always be a p roblem balancing the two. Risk management is linked to the decision making and minimising harm, it seeks to predict the outcome and the potential for harm. (Denny,:119) With this acutalarisms approach to risk assessment disappears and gives rise to false positives.False positives are when an individual is wrongly predicted as being likely to reoffend; these people would not have offended if they were free. (Scott, 2008:24) Since society has become more aware of risks there is more pressure for the Criminal Justice System and Government to limit these risks. This can be seen in Dangerous and Severe Personality Disorder Act. DSPD is a disease that the government made up to so they could incarcerate people who had this illness as they believe they pose a risk to society The emergence of psychosocial diagnoses reflected the prevalence of medicalization. by saying it’s a medical problem they are saying there is something wrong with the individual rather than society. When an indiv idual is diagnosed with DSPD they are not sent to a mental hospital, they are placed in units in high security prisons even if they have not committed an offence. (Corbett and Westwood, 2005:122) There is mandatory incarceration, and you are asked to volunteer for cognitive skills programmes to treat the disorder, however if you don’t volunteer then you will not be released although even if you do volunteer you may never be released.However, many clinicians believe that it cannot be treated and that they are more likely to be a danger to themselves than to others. (Scott, 2008:117). DSPD cause a great deal of controversy as it has no legal or medical base many say this disorder does not exist and the government have only put it in place as they think these individuals pose a risk to society, this demonises sections of the population. (Hirsch et al, 2009:155) DSPD manifests Becks analysis of the risk society and the approaches to understanding the notion of risk.Any person dia gnosed with this the ‘risk society’ may constitute them as unmanageable, ‘such that increasingly complex systems of rational control are required to ensure future public safety. ’(Corbett and Westwood, 2005:125) DSPD highlights one of the reasons why justice is not compatible in the risk society, it is not just to incarcerate someone because they have an illness, and it goes against Rawls and Kant’s principle of justice. As we now live in a risk society it is more difficult have justice for all.There is a belief that we can assess how dangerous a person is, not only on past events but even if they have a medical illness as society thinks they can measure and predict risk. As society demands more security from risks, the government has had to undermine justice as there is more demand for those who threaten our security to be brought to justice. Hudson states that ‘liberal theories leave unanswered the question how much liberty maybe curtailed to prevent how much harm. ’(Hudson, 2003:205) If society demands more security from risk they would have less liberty.If society was to use Rawls principle of the veil of ignorance then they would be less likely to ask for more security as they would not now what position they would be in. The demand for justice and security conflicts with each other , the discourse of risk requires indeterminate sentencing and stands in the way of justice and the government need to appear to make the world less dangerous and the fairness and rights of the offender is put aside, as the elimination of risk is deemed to be more important.The equal balance of justice and risk cannot happen as by having justice for one person maybe creating a risk for another and vice versa and in today’s society there is more emphasis on control of risk. The risk society is fundamentally taking away the values of liberal society by using people as a means to an end, by the elimination fairness and proportio nality. The explosion of risk-focused technologies has been a contributing factor to the risk society as we are now more aware of risks and as we have developed them we believe we can measure them and predict them although this not always correct which means that there is no justice for all.Justice is thus a state of relationships which brings about equilibrium in the free exercise of will but this does not happen in a risk society as it threatens the definition of justice. To legitimise the state and governments actions they create more risk as a state in fear is an easier one to control. Hudson has highlight that towards the end of the 20th Century they was a move from risk management to risk control and it is now embedded in our society. Hudson,2003:60) As we can see from the issues highlighted it is inevitable that Barbara Hudson is correct to say that justice is under threat in the risk society. Bibliography Denney. D (2005) Risk and Society, London, Sage Scott. D (2008) Penolo gy, London, Sage Duff. A, Garland. D (1994) A reader on Punishment, Oxford, Oxford University Press Von Hirsch. A, Ashworth. A, Roberts. J (2009) Principled Sentencing readings on theory and practice, North America, Hart Publishing Kymlicka. W (2002) Contemporary Political Philosophy, Oxford, Oxford University Press O’Neill.O (2000) Bounds of Justice, Cambridge, Cambridge University Press Cudworth. E, Hall. T, McGoverm. J (2007) The Modern State, Theories and Ideologies, Edinburgh, Edinburgh University Press Baggini. J (2005) The Pig That Wants to Be Eaten: And Ninety-Nine Other Thought Experiments, London, Granta Publications Adam, Beck, Van Loon, (2000) The Risk Society and Beyond, Critical Issues for Social Theo Ashworth, A, (2010) Sentencing and Criminal Justice, Cambridge: Cambridge University Pressry, London, Sage Honderich, T (2006) Punishment, London: Pluto PressHirsch, V (1999) Criminal deterrence and sentence severity: an analysis of recent research, London: Sage Hu dson, B (2003) Justice in the Risk Society, London, Sage Kant. I (1987) The Metaphysical Elements of Justice, New York, Macmillan Publishing Corbett. K, Westwood. T Dangerous and severe personality disorder’: A psychiatric manifestation of the risk society, Critical Public Health,;15(2): 121–133

Impact of Stock Split on Stock Return

Proceedings of ASBBS Volume 16 Number 1 THE IMPACT OF STOCK SPLIT ANNOUNCEMENTS ON STOCK PRICE: A TEST OF MARKET EFFICIENCY Garcia de Andoain, Carlos Longwood University carlos. [email  protected] longwood. edu Bacon, Frank W. Longwood University 2O1 High Street Farmville, VA 23909 [email  protected] edu Phone: 434-395-2131 Fax: 434-395-2203 ABSTRACT The purpose of this study is to test whether the investor can make an above normal return by relying on public information impounded in a stock split announcement. Using risk adjusted event study methodology, this study tests â€Å"how† and â€Å"when† public announcements of forward and reverse stock splits affect stock price. Stock split announcement samples include 38 two for one, 39 three for two, and 10 reverse splits. A total of 36,714 observations for the announcement samples and the corresponding S&P 500 stock index were analyzed using standard risk adjusted event study methodology. Results suggest that the firms’ public stock split announcements did not affect stock price on the announcement day. Rather, for the two for one and three for two forward split samples, stock price exhibited a significant positive reaction up to 27 days prior to the announcement. For the reverse split sample, stock price exhibited a significant negative reaction up to 30 days prior to the announcement. Results support the semi- strong form efficient market hypothesis since stock prices adjust so fast to public information that no investor can earn an above normal return by trading on the announcement day. Investors greet forward stock split announcement with a positive sign, whereas they view reverse splits as bad news. Management may be using stock splits to adjust stock price to a more marketable range, downward with forward and upward for reverse splits. Evidence here suggests signs of insider trading activity up to twenty-seven days prior to the announcement of the stock split. INTRODUCTION Stock split announcements have always been very common phenomena among firms and continue to be one of the least understood topics in finance. A stock split announcement increases the number of shares of a company while decreasing the price per share. The two for one split is most common, for example a company with 500 shares at $10 per share will issue 500 additional shares bringing the total to 1000 shares theoretically dropping the stock price to $5 per share. A stock split usually takes place after an increase in the price of the stock, and it carries a positive stock price reaction. (Asquith) This phenomenon has not yet been fully understood, regardless the numerous studies in the field. ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 BACKGROUND Barker (1956) presented one of the most popular theories to explain stock split behavior. Barker findings failed to consider the split action itself. Barker’s study concluded that price changes occurred because of the increase in cash dividends and not from the split action. (Johnson). According to the â€Å"signaling hypothesis†, managers use stock split announcements to convey positive information about the firm (Ikenberry, Rankine, Strice). Investors see a stock split announcement as a positive thing, whereas a reverse split does not convey favorable information. Fama (1969) suggests that the stock market is â€Å"efficient†, meaning that stock prices adjust very fast to new information. The theory of market efficiency is concerned with whether prices reflect all the public available information or not (Fama 1970). Efficiency implies that it is impossible for the investor to earn an above normal return from public information. PURPOSE The purpose of this event study is to test market efficiency theory by analyzing the impact of three samples of stock split announcements on the firm’s stock price. Stock split announcement samples include 38 two for one, 39 three for two, and 10 reverse splits. Specifically, how fast does the market price of the firms’ stock react to the samples of regular and reverse stock split announcements examined? The study tests whether the investor can make an above normal return by relying on public information imbedded in a stock split announcement, as well as if stock price is affected by a stock split announcement. This study investigates if acting on public information is enough to have an unusual return, or if there must be an illegal action such as inside trading to be able to â€Å"outperform† the stock market. Which form efficiency is the market? Research shows that the market is semi-strong form efficient. An above normal return can only be gained from inside information, and not when acting in public information. LITERATURE REVIEW Fama defined market efficiency in terms of how quick the stock market reacts to the information and suggested three kinds of market efficiency: Weak form, semi-strong and strong form efficiency. If market is weak for efficient, then stock price reacts so fast to all past information that no investor can earn an above normal return (higher than the market or the return on the S&P 500 index). This study shows how investors will not earn a high return from acting on public information (stock split announcement), while investors having access to inside information will make an abnormal return. A second kind of market efficiency is semi-strong. It states that stock price reacts so fast to all public information that no investor can earn an above normal return (higher than the market or the return on the S&P 500 index) by acting on this type of information. (Fama 1970). Splits usually result in high market valuations, but study done by Fama (1970), Dodd, Patell and Wolfson, found that there is no evidence of abnormal return after the release of public information. They concluded that the market assimilates and takes into consideration public information very fast, within 5 to 15 minutes after the disclosure (Malkiel). This supports the idea that an investor acting on public information will not earn an above normal return. When this happens the market is said to be semi-strong form efficient. If the market is strong form efficient, then stock price reacts so fast to all information (both public and private), that no investor can earn an above normal return (higher than the market or the return on the S&P 500 index) by acting on this kind of information. Studies made by Friend, Brown concluded that profit can only be gained by having access to private or inside information, which is illegal. Fama ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 presents evidence supporting that efficiency is not met in the strong form and that the semi-strong form is more accurate. This study agrees that stock split announcement are affected in a company stock price according to the semi strong form efficiency which states that stock prices reacts so fast to all public information that no investor can earn an above normal return after the announcement is made. An example would be information concerning a merger. If an investor would buy shares on the announcement day of the merger, the semi strong market efficiency believes that the investor would never be able to earn an above normal return, because adjustments had already been done in the stock price. The market has already been adjusted, so therefore the only way to outperform the market in this case would be by using inside information. METHODOLOGY: This study includes samples of companies that announced a two for one, three for two or reverse stock split announcement. These companies trade their stock in either the NYSE or NASDAQ. The Data for this study was collected from http://finance. yahoo. com/. The announcement date (Day 0) is the day that the stock splits are announced. Every stock return from the companies and from the S&P 500 index was also collected. The Event Study proceeds as following: 1. Historical prices for both the firms and the S&P 500 were collected from day -180 to day +30, being the event period -30 to +30 and Day 0 the announcement day. 2. Holding Period Return was calculated for all the companies as well as for the S&P 500 on the event period days (-180 to +30). HPR was obtained from the following formula: Current Daily Return = (current day close price – previous day close price) / prev. Day close price 3. A regression analysis was performed, being the current firm return the dependent variable and the S&P return the independent variable. The data that was used was the one belonging to the pre-event period (from day -181 to -30). The alpha and the beta were obtained from the regressions. 4. The expected return for each firm as well as for the S&P 500 was calculated: Expected Return = (Alpha + Beta) x S&P actual return 5. Excess Return was obtained from the difference between Actual and Expected Return. Excess Return = Actual Return – Expected Return 6. Average Excess Return (for the Event period) was calculated as: Average Excess Return (AER) = Total Excess Return / n (number of firms in the sample) 7. Cumulative Average Excess Return for the event period (Day -30 to Day +30) was calculated by adding the AER for each day in the event period. 8. A correlation test was done with AER and CAER. The graphs represent AER and CAER plotted against Time. ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Table 1 describes 38 companies that split their stock on a two for one basis between December 1, 2006 and May 14, 2007, along with their respective alphas and betas. TABLE 1: TICKER AFAM ACLI COMPANY NAME Almost Family Inc. American Commercial Lines Inc Selective Insurance Group Inc. ZOLL Medical Corp Trimble Navigation Ltd. Albemarle Corp Guess? Inc. Cooper Industries Ltd Jacobs Engineering Group, Inc GameStop Corp Sealed Air Corp. Carlisle Companies Inc CarMax Inc. Harsco Corp. Amphenol Corp Cabot Oil & Gas Corp Nike Inc Cummins Inc Greif Inc DATE ANNOUNCED Dec 11 Feb 06 TRADED INDEX NASDAQ NASDAQ ALPHA 0. 01665915 -0. 000394377 BETA 0. 08530878 2. 602491516 SIGI ZOLL TRMB ALB GES CBE JEC GME SEE CSL KMX HSC APH COG NKE CMI GEF Jan 30 Jan 25 Jan 25 Feb 07 Feb 14 Feb 14 Jan 26 Feb 12 Feb 16 Feb 08 Feb 22 Jan 23 Jan 17 Feb 26 Feb 15 Mar 08 Feb 26 NASDAQ NASDAQ NASDAQ NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE NYSE -0. 000319706 0. 004077614 -0. 000187534 0. 0022 37728 0. 001589658 0. 000761731 0. 001074342 0. 000477979 0. 00085897 -0. 001167829 0. 003087277 -0. 001056001 0. 000467862 0. 000826123 0. 001079523 -0. 000720045 0. 02203648 1. 38328513 1. 207411999 1. 321541131 1. 327988752 2. 246784079 1. 308635864 1. 946533548 1. 721660362 1. 172042857 1. 346601558 1. 240366727 1. 658082593 1. 86971211 1. 568927816 0. 553921446 1. 980439113 1. 880200397 ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS VLGEA AZZ ATR TSO GEO TSBK VSEC MRO GIL NRG CROX AGN PMFG MIDD SJR PVA GILD PBR STR Village Super Market Inc AZZ incorporated AptarGroup Inc Tesoro Corporation Geo Group Inc Timberland Bancorp Inc. VSE Corp Marathon Oil Corp. Gildan Activewear NRG Energy Inc. Crocs, Inc Allergan Inc PMFG Inc Middleby Corp Shaw Comm CL Penn Virginia CP Gilead Sciences Petroleo Brasileiro Questar CP Mar 21 Apr 09 Apr 18 May 01 May 01 Apr 25 May 01 Apr 25 May 03 May 02 May 03 May 02 May 04 May 04 May 10 May 08 May 08 May 11 May 14 NASDAQ NYSE NYSE NYSE NYSE NASDAQ NASDAQ NYSE NYSE NYSE NASDAQ NYSE NASDAQ NASDAQ NYSE NYSE NASDAQ NYSE NYSE Volume 16 Number 1 0. 00054113 0. 002118906 0. 00174286 0. 00160687 0. 002825174 0. 000615586 0. 001278324 0. 000144992 0. 003089016 0. 00241574 0. 00282982 -0. 000453038 0. 002024817 0. 02028334 0. 001186211 -0. 00050926 . 000009116 -0. 00064373 -. 000142796 1. 351096108 0. 681656728 0. 033542167 0. 973844695 1. 578867077 0. 107464578 2. 457597999 0. 986395517 0. 000111517 0. 316285515 1. 783171812 0. 952984111 0. 039990601 1. 964415725 0. 938731083 1. 1695925 1. 517629839 1. 817825121 . 706466451 Table 2 describes 39 companies that split their stock on a three for two bases between August 23, 2006 and May 15, 2007, along w ith their respective alphas and betas. TABLE 2: ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS TICKER NGA EPIQ BAM WMS VIVO IEX ATLS VSEA BWS WCN RSG JCTCF MDCI PFBC CMCSA SWS BKE VOL SSI FMD CRVL GBCI AFG SPAR COMPANY NAME North AM Gav Epiq Systems Inc Brookfield Asset MGT V M S Industries Inc Meridian Bioscience IDEX Cop Atlas America Inc Varian Semicond Brown shoe corp Waste connections Republic SVCS Jewett Cameron Inc Medical Action IND Preferred Bank LA Comcast Cp A SWS Group Inc Buckle Inc Volt Info Science Inc Stage Stores Inc First Marblehead Corp Corvel CP Glacier Bancorp American Financial Group Spartan Motors Inc DATE ANNOUNCED May 15 May 10 May 02 May 07 April 19 April 04 April 27 April 24 March 08 Feb 12 Feb 01 March 13 Jan 09 Jan 25 Feb 01 Nov 30 Dec 12 Dec 20 Jan 09 Nov 10 Nov 13 Nov 29 Nov 15 Nov 02 TRADED INDEX NASDAQ NASDAQ NYSE NYSE NASDAQ NYSE NASDAQ NASDAQ NYSE NYSE NYSE NASDAQ NASDAQ NASDAQ NASDAQ NYSE NYSE NYSE NYSE NYSE NASDAQ NASDAQ NYSE NASDAQ Volume 16 Number 1 ALPHA -0. 001032797 0. 001183339 0. 000859066 0. 002219704 0. 0011736 22 0. 000243421 0. 000488161 0. 001788461 0. 000592124 -0. 000187979 -0. 000441765 0. 000124622 0. 001559912 0. 000301413 0. 001381697 0. 000530857 -. 000641295 0. 001338437 0. 000540995 0. 004563185 0. 003763906 0. 000329484 0. 000736169 0. 003450361 BETA 1. 997738247 1. 038735222 1. 251257403 1. 094503791 1. 550013068 1. 509306631 0. 38871871 2. 207840195 2. 599167684 0. 92152423 0. 761431985 -0. 512126102 1. 004029551 0. 867741293 0. 927831638 2. 477624454 1. 602298009 2. 358292804 1. 756904894 0. 830932855 2. 113368174 1. 743070573 0. 936337426 0. 519840545 ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS SBIB AEO CTBK IRM PERY EAT AME WGNB ACAP UBSH EML MCBI CASS CCFH Sterlin Bancshares American Eagle Outfitters Inc Trico Bankshares Iron Mountain Inc Perry Ellis International Brinker International Inc Ametek Inc WGNB Corp American Physicians Cap Union Bankshares Corp Eastern Co Metrocorp Bancshares Cass Information Systems CCF Holding Co Oct 31 Nov 14 Nov 08 Dec 07 Nov 21 Nov 02 Oct 25 Sep 18 Sep 26 Sep 07 Sep 28 Aug 04 Jul 24 Aug 23 NASDAQ NYSE NASDAQ NYSE NASDAQ NYSE NYSE NASDAQ NASDAQ NASDAQ AMEX NASDAQ NASDAQ NASDAQ Volume 16 Number 1 0. 001127642 0. 003616084 0. 001058586 -0. 0000284 0. 002794647 -0. 000020642 0. 00005895 0. 00024115 0. 000317657 -0. 00058103 0. 000419721 0. 000941528 0. 003356848 0. 002118726 1. 165421403 1. 593723526 1. 432917191 0. 627633001 0. 919648907 0. 886164833 1. 31003146 -0. 00226624 0. 066171033 1. 663620313 0. 22686963 0. 121493122 0. 113211419 -0. 08732041 Table 3 describes 10 samples of companies that split their stock on a reverse basis between August 27, 2003 and September 15, 2008, along with their respective alphas and betas. TABLE 3: TICKER OPWV ERIC IWOV SIG COMPANY NAME Openwage Systems LM Ericcson Telephone Co Interwoven Inc Signet Jewelers LTD DATE ANNOUNCED Oct 09 Oct 18 Aug 27 Sept 11 TRADED INDEX NASDAQ NASDAQ NASDAQ NYSE ALPHA 0. 00680888 -0. 006696905 0. 001398048 -0. 000938713 BETA 2. 51286756 1. 949328188 1. 469236928 0. 891488791 ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS BFLY REV CNXT IACI TMTA ERIC Bluefly Inc Revlon Inc Conexant Systems Inc. IAC/ InterActiveCorp Transmeta Corporation LM Ericcson Telephone Co April 3 Sep 15 June 2 June 09 Aug 15 April 09 NASDAQ NYSE NASDAQ NASDAQ NASDAQ NASDAQ Volume 16 Number 1 -0. 00449535 0. 000925943 -0. 004900502 -0. 001442165 -0. 002052045 -0. 004006643 0. 070525685 0. 902722337 1. 73193906 0. 982384488 1. 265168622 -0. 16807384 To test for semi-strong market efficiency the following null and alternative hypotheses are used for the three stock split samples: H10: The risk adjusted return of the stock price of the sample of firms announcing stock splits is not significantly affected by this type of information on the announcement date. H11: The risk adjusted return of the stock price of the sample of firms announcing stock splits is significantly positively affected by this type of information on the announcement date. H20: The risk adjusted return of the stock price of the sample of firms announcing stock splits is not significantly affected by this type of information around the announcement date as defined by the event period. H21: The risk adjusted return of the stock price of the sample of firms announcing stock splits is significantly positively or negatively affected around the announcement date as defined by the event period. QUANTITATIVETESTS AND RESULTS: Did the market react to the announcements of regular two for one, the regular three for two, and the reverse stock splits? Was the information surrounding the event significant? A’priori, one would expect there to be a significant difference in the Actual Average Daily Returns (Day -30 to Day +30) and the Expected Average Daily Returns (Day -30 to Day +30) if the information surrounding the event impounds new, significant information on the market price of the firms' stock. If a significant risk adjusted difference is observed, then we support our hypothesis that this type of information did in fact significantly either increase or decrease stock price. To statistically test for a difference in the Actual Daily Average Returns and the Expected Daily Average Returns over the event period day -30 to day +30, we conducted a paired sample t-test for the three samples and found a significant difference at the 5% level between actual average daily returns and the risk adjusted expected average daily returns. Average Excess Return (AER) graphs are shown below. Results here support the alternate hypothesis H21: The risk adjusted return of the stock price of the sample of firms announcing stock splits is significantly affected around the announcement date as defined by the event period. This finding supports the significance of the information around the event since the market’s reaction was observed. ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Is it possible to isolate and observe the samples’ daily response to the announcement from day -30 to day +30? If so, at what level of efficiency did the market respond to the information and what are the implications for market efficiency? Another purpose of this analysis was to test the efficiency of the market in reacting to the three samples of stock split announcements. Specifically, do we observe weak, semi-strong, or strong form market efficiency as defined by Fama, 1970, in the efficient market hypothesis? The key in the analysis is to determine if the AER and CAER are significantly different from zero or that there is a visible graphical or statistical relationship between time and either AER or CAER. T-tests of AER and CAER both tested different from zero at the 5% level of significance. Likewise, observation of the following CAER Charts (graphs of CAER from day –30 to day +30 for each sample) confirm the significant positive reaction of the risk adjusted returns for the two forward split samples up to 27 pre-announcement and a significant negative reaction for the reverse split sample up to 30 days prior to the stock split announcement. Two for one stock split announcements: ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Three for two split announcement: ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Reverse split announcement: ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 There are three forms of market efficiency as defined by Fama, which are strong, semi-strong and weak form efficiency. Observation of the CAER graphs against time for two for one and three for two stock split announcements shows a positive reaction twenty seven days prior to the announcement date. Reverse splits are normally done in order make the stock more appealing for investors with an unusual low market price. (Lawson) Also, reverse splits might be used in order to reduce the number of shareholders of the company. As an example if a 1-10 reverse stock split is made effective, the investor will have ten times less shares than before, but at ten times the price. In the reverse split case, the CAER graph suggests that return falls from day -30 until day -15, while then increasing until day 10. After day 10 the stock starts to level off. CAER graphs for two for one and three for two stock splits show how excess return rises up to 27 days prior to the announcement day. From Day 0 until Day 30 stock returns start to level off. This evidence supports Hypothesis H10, which states that stock price is not affected by this type of information on the announcement date. The stock return has already been adjusted before the stock split announcement is made. The investor cannot outperform the market by using public information. The price has already been affected by the announcement of two for one and three for two stock split announcement. After the announcement day, from days 6 to 16 the return goes up, which is caused by investors that react favorably to the announcement by buying more shares. After this small increase, stock price decreases and levels off. The CAER graphs support the idea that the market is semi- strong form efficient. For the samples analyzed, public information does not affect stock price on the announcement day. Reaction is observed up to 27 days prior to the announcement date which suggests that to be able to â€Å"outperform† the market you must be aware of inside information. CONCLUSION: The purpose of this study was to test whether the investor can make an above normal return by relying on public information impounded in a stock split announcement. Using risk adjusted event study methodology, this study tests â€Å"how† and â€Å"when† public announcements of forward and reverse stock splits affect stock price. Stock split announcement samples include 38 two for one, 39 three for two, and ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 10 reverse splits. A total of 36,714 observations for the announcement samples and the corresponding S 500 stock index were analyzed using standard risk adjusted event study methodology. Results suggest that the firms’ public stock split announcements did not affect stock price on the announcement day. Rather, for the two for one and three for two forward split samples, stock price exhibited a significant positive reaction up to 27 days prior to the announcement. For the reverse split sample, stock price exhibited a significant negative reaction up to 30 days prior to the announcement. Results support the semi- strong form efficient market hypothesis since stock prices adjust so fast to public information that no investor can earn an above normal return by trading on the announcement day. Investors greet forward stock split announcement with a positive sign, whereas they view reverse splits as bad news. Management may be using stock splits to adjust stock price to a more marketable range, downward with forward and upward for reverse splits. Evidence here suggests signs of insider trading activity up to twenty-seven days prior to the announcement of the stock split. ASBBS Annual Conference: Las Vegas February 2009 Proceedings of ASBBS REFERENCES: Volume 16 Number 1 Asquith, Paul, Paul Healy, and Krishna Palepu. â€Å"Earnings and Stock Splits. † The Accounting Review 64 (1989): 387-403. Barker, C. A. , â€Å"Effective Stock Splits,† Havard Business Review, XXXIV (January-February, 1956), pp. 101-106 Easely, David, Maureen O'hara, and Gideon Saar. â€Å"How Stock Splits Affect Trading: a Microstructure Approach. † The Journal of Financial and Quantitative Analysis 36 (2001): 25-51. Fama, Eugene F. Efficient Capital Markets: a Review of Theory and Empirical Work. † The Journal of Finance, 25 (1970): 383-417. 9 Dec. 2007 . Fama, Eugene F. , Lawrence Fisher, Michael C. Jensen, and Richard Roll. â€Å"The Adjustment of Stock Prices to New Information. † International Economic Review 10 (1969) : 1-21. 9 Dec. 2007 . Ikenberry, David L. , Graeme Rankine, and Earl K. Stice. â€Å"What do stock splits really signal?. † Journal of Financial and Quantitative Analysis 31. n3 (Sept 1996): 357(19). General OneFile. Gale. Longwood University. 9 Dec. 2007 . Johnson, Keith B. â€Å"Stock Splits and Price Change. † The Journal of Finance 21 (1966): 675-686. 9 Dec. 2007 . Lakonishok, Josef, and Baruch Lev. â€Å"Stock Splits and Stock Dividends: Why, Who, and When. † The Journal of Finance 42 (1987): 913-932. Lamoureux, Christopher G. , and Percy Poon. â€Å"The market reaction to stock splits. † Journal of Finance 42. n5 (Dec 1987): 1347(24). General OneFile. Gale. Longwood University. 9 Dec. 2007 . Lawson, Michael J. â€Å"Reverse Stock splits: The Fiduciary's obligations under State LAw. † California Law Review 63 (1975): 1226-249. Malkiel, Burton G. â€Å"Is the stock market efficient?. † Science 243. n4896 (March 10, 1989): 1313(6). General OneFile. Gale. Longwood University. 9 Dec. 2007 . ASBBS Annual Conference: Las Vegas February 2009

Article Presentation Mgmt 591

Article Presentation – Leader-follower relationship What is the issue that necessitates that such an article be written? The purpose of this article is to determine who the leader is and who the follower is, how they are connected and what are the differences between them. One of the issues in this article is that the followers are not as well defined in literature as leaders, not much attention is paid to this important group. Another issue of this article is how to develop good relationship between leaders and followers.Simpson and Harris proposed 5 ways in which leader-follower relationship develop. What strategies or techniques are used to address the issue? Once we are fully connected in our leader-follower roles, we have a foundation on which to build. Trust, energy, openness and attitude can emerge from within. We will be mutually empowered to listen to each other and to be aware of proper distance and positioning. Just as dancing is an art, so too is leading and follow ing.We can execute our strategic plan and still miss our objectives if we get disconnected along the way – from ourselves or from our leader. Your conclusion and recommendations. The common theme here for leaders and followers is frequent interaction resulting in a shared understanding and a mutual respect to achieve established goals. Much like any relationship, the leader-follower/follower-leader relationship requires mutual commitment and effort, and the input and ideas of both parties needs to be valued. My recommendation is clearly define which role plays each character-leader and follower.They both are very important in any organization, and they can’t exist without each other, because one comes from another one. Provide a list of discussion questions useful for leading a discussion of the article. * How do you personally define a leader and a follower? How to become a good leader/follower? * In your organization, who is more important –leader or follower? Why? * What are the guidelines that should be at the foundation of a healthy leader/follower relationship? * In your organization or in personal life, do you have followers? Why are they following you?

Challenge of Groups and Teams Paper Essay Example | Topics and Well Written Essays - 500 words

Challenge of Groups and Teams Paper - Essay Example They will be able to recognize the meaning of persistent communication building within the team. This training programme will include the sessions where the team mates will be informed of the techniques on how they can handle the diversity element within their team mate circles.This is the most significant, because of the fact that conflict tends to develop where the team mates are from varying backgrounds and culture. Because they are unable to understand each other's difference of speech, likes and dislikes, manners and rituals. The participants will be taught how to relate to their past workplace experiences with their current performances, in addition to how they can actually avoid any bad outcomes later. The team will be taught hot to function efficiently across operations, characteristics. How they can easily break the numerous communication barricades (Mackin, 2007, pg 109). The team mates should be imaginative enough to resolve compound problems. They should have the ability to assess the suppositions in relation to how individuals/teammates can function effectively as one. Developing the individuals self responsiveness in addition to substantiating their facets of self discernment.

Con For Military Draft Research Paper Example | Topics and Well Written Essays - 1500 words

Con For Military Draft - Research Paper Example The military draft was used in the US particularly in the times of war and the cold war period. This was the best way that the US could use to ensure that it maintained a viable and a strong military because of the injuries and the deaths that its military suffered. However, in the current age, there are better ways of planning for war and security issues rather than using a military draft, in addition to, the fact that wars are not widespread like in the yester centuries. Disabled military veterans are currently fighting the bureaucrats of the veterans’ affairs department in order to fight claims for healthcare services and disability benefits to cover for the war injuries they sustained on duty while serving their country. Some of them have waited for too long. As a wakeup call, the US should not reinstate the military draft because the military involves an exposure into a life-threatening environment where the military personnel are exposed to dangers of death but also the dangers of being permanently disabled. Instead, the US government should invite all in the required age bracket of 18 to 21, for an active duty of service to assist physically and mentally challenged citizens from overseas injuries. However, this should be done voluntarily as opposed to through a military draft (Rosebrock 77). The federal government spends trillions of dollars training innocent minds and strong bodies to be professional killers against enemies. In order to reduce such cases, the US should not reinstate the military draft. Newly inducted citizens can be assigned to work and serve as peacetime draftees at hospitals, to assist in administration, nursing and facility maintenance and also assigned to work on full time basis, to take care of the individual disabled veterans and their families and be integrated into the society rather than being ignored, and neglected. However, this decision

Business planning Assignment Example | Topics and Well Written Essays - 4500 words

Business planning - Assignment Example The food purchasing pattern of consumers is not only driven by the taste of the food but the food and the store should also have a pleasing impact on the aesthetic senses of the consumers. Since 2009, the food service and fast food industry is growing at a rapid rate and interestingly growth is high in the fast food sector. Quick Pizza is expected to attract significant number of consumers as a result of its high quality pizzas, cost effectiveness and innovative nature of business (Market Line, 2011). The pizza industry can be classified into three segments, such as, dine-in, takeout and home delivery services. According to market report, delivery services and takeouts form a major share of the industry revenue. Dine-in choices are presented by most adequately sized establishments while takeout is a convenient choice presented to consumers by mobile vendors as well as restaurants. The proposed business idea comes under the purview of quick service business model where the overall cost associated with the business is minimised because of lack of fixed establishment. The current consumer trend suggests that consumers are increasingly becoming health conscious and most fast food sellers are incorporating this requirement in their food menus (IBIS World, 2015). The United States is slowing recovering from the devastating recession and economic slowdown. In last half decade, the fiscal position of the country has improved considerably but the economy is still struggling with income inequality and unemployment issues. The purchasing power of consumers continues to be all time low but is expected to improve in recent time. The cost of infrastructure is increasing in an abrupt manner and the gross domestic product of the country is relatively low among other developed economies. Besides these, the labour wage and price of commodities are increasing at a rapid rate. The consumption pattern in the food service industry has been affected by present economic scenario and

U.S. policy toward Iran's Nuclear Weapons Program Essay

U.S. policy toward Iran's Nuclear Weapons Program - Essay Example There is no defined way of getting Iran to drop its nuclear program. But a combination of various technologies can be used to corner the country into doing so. The US government should follow both the carrot and stick approach to persuade Iran to comply by its sanctions. It should make sure its policies are bilateral and multilateral to gain support from the other countries. Here is a threefold plan to achieve the same. 1. The third world countries should be convinced regarding the threat of the increased arms proliferation and the advantages the current US sanctions might bring them to gain their support. The Iranian neighbours should be lured in to give more support to the US policies. 2. The Iranian public should be made aware of the losses they incur due to the sanctions. They can play a key role in making their government drop such activities for the general economic growth of the country. 3. The US government should stop imposing more strict sanctions on the Iranian oil market. It should bargain technological help in core areas in exchange of a cease on the nuclear program. Current Status Iran suffers from various rounds of US sanctions currently. The sanctions have banned the supply of heavy weaponry to Iran by any other country. It has prevented the exports of Iranian arms to other countries and frozen the assets of around 39 individuals and 141 companies whom it think is responsible for strengthening the nuclear power in Iran. The latest sanctions proposed by the US on prohibit all foreign financial institutions to have business contacts with Iran's Central Bank. Under requests from the American government the European Union and South Korea have also agreed not to purchase oil from Iran which comes as a heavy blow to Iranian economy. These sanctions have been imposed upon Iran because they have breached to comply with the International Atomic Energy Agency (IAEA) regulations as alerted by the UN's watchdog (Not Quite too Late, 2012). Iran’s Nucl ear Power The US intelligence reports states that Iran purchases advanced technology from Russia and the products necessary to materialize the technology from China. There is an assumption that Iran will develop and test an IRBM or intermediate-range ballistic missile and an ICBM with the support of these countries by 2015. The reports from the CIA state that Iran has close tie ups with North Korea and it is planning to create TD-2 type ICBM and test it within 2015 (Iranian Ballistic Missile WMD Threat to the US, 2000). They also fear a huge range of chemical and biological weapons are stocked by the Iranian government which might be used directly against the US or simply be sold to groups or countries which target the US as their primary enemy. Is it an Imaginary Fear? The US government should consider how far the previous sanctions have prevented Iran from producing the nuclear weapons. It is a proven fact that the sanctions which have been passed on the country for the past 30 ye ars have given very little result. But looking into Iran's ballistic missile history, there is no solid proof that they are capable of developing long-range ballistic missiles or huge nuclear weapons. They created a Shahab-4 which claimed to act as a ballistic missile but turned out to be just an SLV with minimum military applications. Tehran has been boasting about its plan to create

Learning Environment Research Paper Example | Topics and Well Written Essays - 4500 words

Learning Environment - Research Paper Example Then, there is something called the honor code. "From 1913 to World War II, the honor system expanded to all academics, including problem sets, lab reports, and essays. After the war, with perhaps some influence from the military, the treatment of [school] property and the theft of personal belongings became an important part of honor [in school]" (History of the Honor System, 2002, p. 1). With the honor code, the responsibility for maintaining honor lies with the students. "One element of an integrity strategyis the use of an honor code, which has been related to a reduction in academic dishonestyHonor codes typically have some of the following characteristics: unproctored examinations, a pledge students sign on exams and assignmentsin which students are encouraged to reporttheir peers' academic dishonesty" (Konheim-Kalkstein, 2006, p. 169). Conversely, if students are furtive or are trying to cheat, most likely the fact is that they are simply dishonest. Simply put, academic honesty in the classroom can be difficult to maintain, especially if there is no way to assess the standards put in place by the teacher. Integrity is typically categorized as character. ... 169). The honor code may work, or it may not, depending upon the individual students' level of honesty. If they are generally morally-abiding students, they are less likely to cheat or lie. Conversely, if students are furtive or are trying to cheat, most likely the fact is that they are simply dishonest. Simply put, academic honesty in the classroom can be difficult to maintain, especially if there is no way to assess the standards put in place by the teacher. III. Implications of Different Theories in Integrity Integrity is typically categorized as character. "Integrity is one of the most important and oft-cited of virtue terms," and here four types of integrity will be discussed: integrity as standing for something; integrity as moral purpose; integrity as virtue; and integrity in relation to social and political conditions (Integrity, 2008, p. 1). Cheshire Calhoun, in his piece Standing for Something, notes that "integrity hinges on acting on one's own views, not the right views (as those might be determined independently of the agent's own opinion)" (Calhoun, 1995, p. 250). Standing for something is typically seen as weak in some circles. However, having the courage to stick to one's morals or values in life is commonly seen globally as a strength. There is the old saying which many know, "Stand for something or you'll fall for anything." Many times people have to rely on their gut instinct in order to know what to do in a particular situation. Let's take a particular situation, where a student is faced with the opportunity to cheat off another student's work in class. Realistically, the student may just cheat. However, perhaps the student may

Explain why students studying for a specialist business-related degree Essay

Explain why students studying for a specialist business-related degree are required to study a range of other disciplines - Essay Example BÐ µyond this, thÐ µ nÐ µÃ µd is for somÐ µ knowlÐ µdgÐ µ of businÐ µss Ð °nd Ð µconomic "fundÐ °mÐ µntÐ °ls," of thÐ µ Ð °rt of communicÐ °tion, Ð °nd of thÐ µ problÐ µms crÐ µÃ °tÐ µd by orgÐ °nizÐ °tionÐ °l rÐ µlÐ °tionships, Ð °s wÐ µll Ð °s for thÐ µ kind of broÐ °d bÐ °ckground thÐ °t contributÐ µs to thÐ µ bÐ °sic Ð °bilitiÐ µs mÐ µntionÐ µd Ð ° momÐ µnt Ð °go. In this pÐ °pÐ µr I would likÐ µ to Ð µlÐ °borÐ °tÐ µ morÐ µ on why studÐ µnts studying for Ð ° spÐ µciÐ °list businÐ µss-rÐ µlÐ °tÐ µd dÐ µgrÐ µÃ µ Ð °rÐ µ rÐ µquirÐ µd to study Ð ° rÐ °ngÐ µ of othÐ µr disciplinÐ µs. So which disciplinÐ µs Ð °nd skills Ð °rÐ µ thÐ µ most importÐ °nt? ThÐ µ most impÐ µrÐ °tivÐ µ skills Ð °rÐ µ Ð °nÐ °lyticÐ °l Ð °bility, judgmÐ µnt, skill in intÐ µrpÐ µrsonÐ °l rÐ µlÐ °tions, thÐ µ Ð °bility to Ð °ccÐ µpt rÐ µsponsibility Ð °nd to mÐ °kÐ µ dÐ µcisions, gÐ µnÐ µrÐ °l Ð °dministrÐ °tivÐ µ skills (including thÐ µ cÐ °pÐ °city to lÐ µÃ °d othÐ µrs, to plÐ °n, to orgÐ °nizÐ µ Ð °nd dÐ µlÐ µgÐ °tÐ µ), brÐ µÃ °dth Ð °nd flÐ µxibility of mind, imÐ °ginÐ °tion, fÐ °cility in pÐ µrsonÐ °l communicÐ °tion, Ð °nd strong pÐ µrsonÐ °l motivÐ °tion. ThÐ µsÐ µ quÐ °litiÐ µs Ð °rÐ µ not nÐ µÃ µdÐ µd in prÐ µcisÐ µly thÐ µ sÐ °mÐ µ combinÐ °tion for Ð µvÐ µr y typÐ µ of position Ð °nd for Ð °ll kinds of cÐ °rÐ µÃ µrs in businÐ µss. But, pÐ °rticulÐ °rly for thÐ µ highÐ µr Ð °dministrÐ °tivÐ µ positions, thÐ µy sÐ µÃ µm to bÐ µ thÐ µ quÐ °litiÐ µs thÐ °t nÐ µÃ µd most to bÐ µ Ð µmphÐ °sizÐ µd. With thÐ µ incrÐ µÃ °sing complÐ µxity of businÐ µss opÐ µrÐ °tions, thÐ µ nÐ µÃ µd for stÐ °ff spÐ µciÐ °lists is incrÐ µÃ °sing, Ð °t thÐ µ sÐ °mÐ µ timÐ µ thÐ °t thÐ µrÐ µ continuÐ µs to bÐ µ Ð °n insistÐ µnt dÐ µmÐ °nd for Ð °blÐ µ Ð °dministrÐ °tors. MÐ °ny studÐ µnts will find thÐ °t thÐ µy cÐ °n mÐ °kÐ µ thÐ µir most significÐ °nt contribution in stÐ °ff positions. HowÐ µvÐ µr, thÐ µ growing nÐ µÃ µd will bÐ µ for mÐ µn with Ð ° high lÐ µvÐ µl of Ð °nÐ °lyticÐ °l Ð °bility Ð °nd with Ð ° sophisticÐ °tÐ µd commÐ °nd of Ð °nÐ °lyticÐ °l Ð °nd rÐ µsÐ µÃ °rch tools dÐ µrivÐ µd from thÐ µ fundÐ °mÐ µntÐ °l disciplinÐ µs. Sound trÐ °ining in thÐ µ physicÐ °l Ð °nd sociÐ °l sciÐ µncÐ µs Ð °nd in mÐ °thÐ µmÐ °tics Ð °nd

The Ring Movie Review Example | Topics and Well Written Essays - 1000 words

The Ring - Movie Review Example Keller watches the tape in order to find out the mystery behind it and concludes that the videotape has some connection to a little girl called Samara. Keller tries her best to piece together the puzzle of the mysterious tape before the seven days when she would die. It is at this juncture that the drama begins as she embarks on a race against time, where she has to unravel the knotted threads of the secret of the video if she has to save herself. The movie scares not with the regular arsenal of blood and gore, but by instilling in the viewer the fear of the unknown that runs down your spine because of the inability and sheer helplessness of the individuals who become the targets of the mysterious Samara in the videotape, who is on a rampage seeking revenge. The entire movie swings like a pendulum back and forth between modernism and post- modernism views. Meta narratives are the rules that determined "the legitimacy of particular forms of narrative" and this helps us to determine their legitimacy and truth for the different forms of narrative employed. (Malpas, Postmodern) In the context of the movie, 'The Ring," the opening scene itself sets the mood for a post-modern, meta narrative method of telling the story. On the other hand, the modernist view of a grand narrative could be seen in the scene when Rachael falls into the well. In speaking of the grand narrative Malpas states, "A grand narrative tells the story of the progress and development of narrative. ., grand narratives legitimate their content in relation to an overarching theme or idea." Some of the key words in this quotation are "progress and development". According to the Merriam - Webster dictionary, the word "progress" is defined as "a gradual betterment, how we gauge our lives when we move forward, for example when we make technological advancement to better our lives" and the word "development" means to go through a natural process of growth, differentiation, or evolution." While the narrative is many short stories contained in a collection, and used to weave the incidents and experiences of the past while trying to make progress in the future, the grand narrative has all these small stories linked together in a single novel from the beginning to the end. The conversation between the two girls about the tape reveals that the narrative, or in this case, the urban legend is true. The videotape has a semiabstract quality about itself, and there is hardly anything that can testify to its evil intentions. But the legitimacy of the tape is established due to the fear inherent in the girls. The truth of the event, which during its retelling by the girl in question, seems rather far - fetched becomes verifiable when she dies under the most suspicious circumstances. As Malpas puts it, "A metanarrative thus sets out the axioms that allow communication to take place, and determines the legitimacy of a narrative for a particular genre, as well as giving the rules to determine its truth or falsity." The following is a good example of this. What starts as a gossipy chat between two teenagers has become a legitimate narration, the veracity of which is established beyond

Plato in Apology and Aeschylus in Eumenides Essay - 1

Plato in Apology and Aeschylus in Eumenides - Essay Example Charged with being an associate of the Thirty and with subverting the thinking of Athenians, Socrates was brought to trial in 399 BCE. Plato’s Apology is his account of the proceedings against Socrates and, in particular, Socrates’ oratory at trial in his own defense.1 Thus, the Apology must be understood in the context of dramatic social changes taking place in Athens, particularly, the restoration of the Athenian tradition of democratic rule, and a pogrom to drive from Athens any vestige of the radical thinking associated with the Thirty. So, when we speak of reactionary sentiment in Athens at the time of Socrates’ trial, we are speaking of the force of the newly-restored democracy to return the city-state to the tradition of democratic principles.2 Plato’s Apology and Aeschylus’ Eumenides both present the transition from an old order to a new one and, in different ways, embody the human condition of duality. Whereas in the Apology Socrates pleads his case by asking questions that probe the deeper recesses of the mind, Aeschylus presents us with characters who engage in spirited debate and accusation. Thus, we are presented with two very different definitions of and perspectives on the subject of justice. Yet the entire spectrum of motivation toward and contemplation of justice is addressed in both. Let us first look at Aeschylus’ work. In Eumenides, the third in Aeschylus’ Oreseias trilogy, Apollo leads Orestes to kill his mother, Clytemnestra, who had previously killed her husband and Orestes’ father, Agamemnon.

A Down-to-Earth Approach Essay Example for Free

A Down-to-Earth Approach Essay The postindustrial revolution is defined by computer technology. Since 1950, a third technological transformation has been unleashed by the development of the computer. The crucial technology of a postindustrial age concerns information. Computer technology forms the core of an Information Revolution. And, just as the Industrial Revolution did, the Information Revolution is now generating a host of new, specialized occupations. From a worker’s point of view, in the same way that the acquisition of technical skills held the key to success in the past, now workers must enhance their literacy skill as that is valued in the marketplace. The economic reality is that people unable to speak, write, or otherwise communicate effectively face declining economic opportunity. Computer technology has reduced the role of human labor in production. But to those that are able to rise to the challenge of the Information Age, however, the coming decades will bring new opportunities. The information Revolution is changing not just what people do but where they do it. The last economic revolution centralized the work force in factories, a pattern demanded by energy sources and the enormity of the new machinery. Today, however, consultants, salespeople, architects, writers, and other employees in â€Å"new cottage industries† can work virtually anywhere so long as they are equipped with computers, facsimile (fax) machines, electronic notebooks, and other new information devices that are increasingly lightweight and portable. Today’s more educated and skilled workers also no longer require-and often do not tolerate – the close supervision that marked yesterday’s factories. Further, the Postindustrial economy, a productive system based on service work and high technology is by nature an ongoing process. REFERENCE Henslin, James M. (2006). Sociology: A Down-to-Earth Approach, Core Concepts (2nd ED). New York: Allyn Bacon.

Advantages And Disadvantages Of Online Accounting Systems Information Technology Essay

Advantages And Disadvantages Of Online Accounting Systems Information Technology Essay When a diminutive company desires to apply accounting software then they have to stick to the conventional method of accounting as the price of any certified accounting software is quite high and relatively unfamiliar to many. This concept has received a big blow as these small businesses now have a choice. Accounting software can be procured and mounted on your computer. However, with the presence of ever developing internet a consumer can locate the identical packaged application on the web and doesnt have to download or purchase anything. I dont matter if your company is local, or national, or international any business can at present employ internet based accounting software. It doesnt depend on the size of the business you uphold, there are certain aspects of considerable importance when it comes working online especially with companys accounts. Security is a major concern and one of the primary steps a large amount of network based merchandises think for users. Web based financial account software handle its personal database hub and all the records are accumulated on huge network servers. Supplementary queries can be raised to internet based companies on the support of their infrastructure. Take a note of the number of web data servers are preserved for backups, involuntarily or manually, backup strength must be taken as the primary factor after security. Everything will appear simple when consumers dont have to consider or worry about backups any longer. Think of the amount of times every year somebody has to volunteer and preserve your server, format it and your system or else you have to worry about it. How overwhelming that charge sounds as the acc ounting application and database for the company is stored on a Personal computer or the businesss server. With everything available on the web, you can easily overlook any troubleshooting mishap. IT is addressing certain issues as they come up for the accounting software used on the Web. As a matter of fact, a number of web based sellers have forged a plan which will give sufficient time on the maintenance of the entire system and that to on weekly basis. Usually, reviving or modification is done twice or thrice a year where users are informed before hand. Usability is marginally equivalent to 100% both day and night, daily, from any internet accessible tool restricted by a user security system and log on necessities. You will have a lot of capital saving chances while choosing a web based system to have your data. Advisors are no more required to keep the financial accounts and every inescapable timely security update that happen in every application. An unforeseen power reserves arises when small and large businesses toggle to web based application. Reportedly, it was observed that a company saved around millions of dollars from power savings. Additional savings piles up with the exclusion of investment on resources to get the entire system equipped to go. Typically it takes around six months for a large business to mount, switch information, examine and other tedious problems which leads to the build up. This entire process of setting up the infrastructure is quite quick for small companies when they switch to the web based application. The start up time includes the conversation which happens to make the decision. The businesses save in arrangement and setting up of resources of the more dominant accounting structure. There are constantly straight finances requirements when a small sized business raises or modifies their accounting method. Though, web based deliberation is merely used monthly and only for purposeful use of the company. This denotes that web based software can develop with the corporation. It makes the entire infrastructure flexible and switching becomes a small head ache. 2. How to select accounting software? It is extremely necessary to be certain that you acquire an approved or accepted small business accounting application. Do not rely on the most popular or used accounting software as it might not suit your needs, therefore, it is imperative to do some research and make certain inquiries. Security is a major concern and one of the primary steps a large amount of network based merchandises think for users. Web based financial account software handle its personal database hub and all the records are accumulated on huge network servers. Supplementary queries can be raised to internet based companies on the support of their infrastructure. There are several essential aspects to reflect on, which can help in getting the assurance that you have the precise selection to suit your company requirements. Primarily, when it comes to selecting the exact company accounting software,  meet a specialized and knowledgeable accountant whom you can rely upon. Many a times, the accountant is conscious of fiscal managing software that is vital for your company. Secondly,  the volume of your commerce when it is down to yearly sales is an important thing to think  in selecting the correct  company accounting software. The intensity of support while purchasing software will count and make a note that you will need this continuing support after accomplishment. These are actually essential in selecting the exact business accounting application. You may misguidedly purchase software that will require patches and improvements exactly following your acquisition of the business accounting software. This kind of software will not be able to cope with your budding business developments. There is also an option of either acquiring permanent and reactive software or web based accounting systems that can be accustomed and arranged to particular or varying requirements. Take a note of the number of web data servers are preserved for backups, involuntarily or manually, backup strength must be taken as the primary factor after security. Everything will appear simple when consumers dont have to consider or worry about backups any longer. Think of the amount of times every year somebody has to volunteer and preserve your server, format it and your system or else you have to worry about it. How overwhelming that charge sounds as the accounting application and database for the company is stored on a Personal computer or the businesss server. Irrespective of the strength of your company, you must choose a system that can revolve itself on timely basis along with the company. When your business expands your accounts also grows in the same magnitude, it is directly proportional to each other. In fact, you must select a robust system that can offer you such space. And I do not favor repeated switching of accounting software. Finally, in the selection of the precise commerce accounting software you should ensure that  it is uncomplicated and dependable. Straightforwardness and consistency is in fact all you require for any web based accounting or business software as web based systems can effortlessly bend to the exact purposes and alterations in your corporation. These straightforward points and techniques will assist you discover the exact and suitable business accounting software or web based commerce system for your trade. In summing up, the online software saves time and straight operating expense for a business, small, medium, and large. The requirement for experts is almost eradicated; improvements and mechanical difficulties with the system are managed by the web based business technical support. Bookkeeping utilities are with no trouble introduced to your pact based online system as the means of trailing accounts augments with the ever expanding business. 3. Think wisely and choose! It is very important to know what kind of accounting system you want. This plays a great role as you have to have an eye for the future. There are many factors that play a vital role in the selection of accounting software. We tend to overlook certain small but significant factors which describes the efficiency of the software. You will certainly at some point of time rely on definite support but you must do your home work as it the matter of your companys accounts. Accounts or financial data shows the performance and growth of a company. This information has to be preserved in a secured way as it holds all the secrets of a company. Hence, for a companys head or owner it is important to choose specific software which proffers you space, solidity and consistency. Starting with selection, it is a head ache if you do not belong to the accounting or commerce fraternity. It does not matter; all you need to do is to know your requirements. In order to do so, you will need to discuss with your accounting team. Don not rely on famous and popular accounting software and you should confirm that it fulfill your needs. In fact, have a meeting or meetings and try to bring up a list of requirements. In that case you must check the following points Security, yes, when it comes to accounts it is never safe to rely on something you dont know. Bugs are common in software and any bug can kill your entire annual history. However, if anyone has all your accounting data then you might have to face prolong nightmares. So, talk to your team and verify the software in order to check its reliability. If the software is secured then around 50% of your problem is solved. Requirements, yes, you will need to check the requirements such as resources it needs to initiate. A huge software can ask for millions dollars of resources and infrastructure. A large company usually takes around six to seven months to set up their system. So, you need to verify certain aspects such as resource requirement. In this section, back up plays an important point so; you must check that aspect too. System shutdown and power failure are common happenings. Flexibility rather usability of the system plays an important role. Irrespective of the strength of your company, you must choose a system that can revolve itself on timely basis along with the company. When your business expands your accounts also grows in the same magnitude, it is directly proportional to each other. In fact, you must select a robust system that can offer you such space. And I do not favor repeated switching of accounting software. Hence, this is a major point to look for in accounting business system. If you can get hold of such factors and comprise it into your software then you are on the correct track. Software needs to have proper security which encloses the reliability factor. Then, accounting software must have all the resources to offer any kind of backup if any power mishap or system crashes. Finally, all you need is flexibility of switching whenever needed. Software has updates and versions, so make sure that you have the latest version. As you company will grow you accounts will expand too, thus, you must take a note of that. Irrespective of your company magnitude, small, or mid-sized, or large, you must look for such attributes when it comes to accounting business software. At the end, you will have two choices, either desktop base software or online software. Think wisely and choose. Accounting Software- The Benefits You Can Take Word Count: 605 Computers together with their applications have become incorporated to mans life. It is something that could provide you with information in a very efficient manner and could relieve you from different task that simply rule over your life. Well, one of the mundane tasks in which people love avoiding from is accounting. It could really be frustrating working with figures and solving different financial problems. Well, if you are one of those people who are thinking about a good way on how to manage accounting issues, then making use of accounting software would be a great idea. Here are some of the benefits that you can possibly take if you use this kind of software: Ease of accessibility- most of the accounting programs these day are offering simple as well as easy interface top assist in entering the accounting data without any difficulty. Even those people with only little or no experience in accounting could really feel the assurance that the data they had entered is correct. In most software applications, the data-entry points will correct or will ask you for confirmations when something appear to be entered in a wrong manner. This feature of accounting software could really help you in saving hours of work. Reports- Most of the software programs has some functionality with regards to reporting. It actually lets the business owner in reviewing the latest status of the business any time. It could be done by simple press and clicks. The additional flexibility of having an accurate as well as reliable data could enable the user in making informed as well as educated decisions. Making the quality reports is usually a job of an accountant or of the owner of the business. Well, computers already took this role over them. Thus, it makes the accounting software efficient and effective. Solutions- though accounting software could do the task of accounting in a very less as well as intimidating time, they also opened the doors for fraud. Thus, staying with a secure procedure and locking down your computer system using passwords is something essential if you really want to prevent your business from dishonest employee from stealing things from you. So, simply keep it locked all the time. Taxes- at the end of the year, lots of people find themselves mixing up just to get the data in order to prepare their personal as well as tax returns into their business. As a matter of fact, many people totally find this matter a really daunting job in which they are farming out the process for a tax professional rather than dealing with it by themselves. Most of the accounting programs are designed, thus the user could map up the items in an individual manner. As a result, the information could be exported to different kinds of tax software. When it is done correctly with the set up of the software itself, the business owner could efficiently save themselves from the cost of preparing tax each and every year. You can surely make accounting job easier by making use of the accounting software. With such, those advantages mentioned above could be easily attained without taking any sort of circumstances or confusions unlike what you used to experience by using traditional accounting. Thus, what are you waiting for? Do not let yourself and your business left behind. Get yourself involved by simply using a good accounting software and make things effective and efficient. Simply keep those benefits in mind. Using good accounting software truly values the money you spent for having it. So, what are you waiting for? Get one now.

Problem Statement Of Telecom Technologies

Problem Statement Of Telecom Technologies The history of telephony took birth in 1876 when Graham Bell succeeded in making first ever voice transmission; then we observed 1st public cellular phone in 1946 and the introduction of the very first commercial mobile network in 1992. Weve been moving forward, making great discoveries all along, making innovations in different technologies, disciplines and life styles. 1992 was a start of the speech transmission now which stands as a perfect master piece of art and is ready to take a jump into the hyper connectivity. We have jumped into a BW hungry population which have ensued in overturning the technologies and the mobile telephony is no exception to that. Infact data requirement now explicates major revenue pours in any modern mobile network, so we are always hunting for methods to heighten and step-up the data rates. From the infancy mobile networks in 1992 grew to a developed network into the 2nd Generation then 2.5th Generation networks. Then we observed a transition from GSM technology to UMTS or WCDMA. That was called as 3rd Generation Technology. 1.2 Problem Statement Progression in telecom technologies has become an unavoidable phenomenon. Telecom markets are reshaping themselves into 3G networks. 3G UMTS/WCDMA licensing and spectrum auctioning has happened in all the major markets including the developing economies similar to Pakistan. There are almost over 405 million UMTS/WCDMA subscribers in 320 networks in over 130 countries. This number is growing at an exponential pace as more and more networks embrace this technology. However, Pakistan has unfortunately delayed the 3G licensing and spectrum auction now for over 3 years and is lagging behind in offering broadband and other consumer oriented EM (electronic mobile) applications such as health, education, commerce, video conferencing over its mobile networks. While, the importance of 3G licensing is a key aspect from the consumer point of view but an early adoption by the operators could have resulted in less capex and opex today since most of the sites especially in the larger cities are for providing excess Voice Data capacity which could have been avoided by deployment of 3G networks While, some of the operators are still resisting the 3G licensing but most of them have shown this resistance due to likely higher Spectrum Fee being envisaged by the Government for 3G. The Operators are of the view that the spectrum should be offered at cheaper tariff so that investment goes into infrastructure and not licensing. The other issue confronting the regulator and policy makers is whether to open up the process to new players or limit the auction to only the existing operators. To Identify and Analyse Impediments of 3rd Generation Telecommunication Technology to Develop Remedial Measures for its Early Deployment in Pakistan 1.3 Objectives of Thesis To study Mobile Wireless Technologies To Study and Analyze Market and Consumer Requirements for 3G To Study and Analyze the current Telecommunication Policies, Rules and Regulations with regards to the adoption and implementation of Technologies To identify Impediments (Issues and Challenges) in deployment 3G (Conclusions) To present Measures and Recommendations for early deployment of 3G in Pakistan 1.4 Significance of Research Due to consistent and unwavering growth patterns Pakistan Mobile Industry has achieved land mark of 100 million subscribers at the end of July 2010. In order to make the sector more efficient in utilizing the telecom resources, PTA has implemented the infrastructure sharing SOPs, which will not only make the operators more efficient but also would give them huge cost saving and reduce environmental hazards in the country. The much awaited 3G licensing is just around the corner, where all the necessary work has been completed and the Authority is waiting for a policy by the Government of Pakistan to initiate the licensing process. In continuation to its efforts PTA has been arranging seminars on 3G for creating awareness about the 3G services and to foresee and discuss the challenges that the industry may face with the introduction of 3G services. 3G is known as Third generation telecommunication technology as specified in the ITU standards. Unveiling of this technology has chipped in a new driving force to the mobile concepts. It now extends the user, a broad array of facilities. The most significant among them is the efficient use of the spectrum. Ameliorated efficiency in the system has bestowed upon the availability of broadband internet in the cellular phone. This remarkable invention has also made it possible to accomplish extended wireless telephony, broadband internet and video calls in the cell phone. Strictly speaking, the 3G technology has overturned the requirements to make it a complete, compact device by providing multifaceted applications. Using internet on the 3G phone has established a new attribute to the all-pervasive internet usage. The 3G technology has successfully attained faster service facilities. Development of a website or making a blog is now simpler then ever before. Desktops, due to its static nature have certain limitations. While mobile phone could accomplish the same result as its similitude, it was a good change for the consumers. Impact of this new technology in the cell phone sphere will be satisfying. Mobile phone industry is functioning in a superb competitive environment. By use of this technology, the user can browse internet and find an online dealer to purchase the products. Other fields that have profited from this technology are; online entertainment, messaging, news and security. 1.5 Limitations of the Research Though Officials of PTA were very accommodative and provided with the thorough and comprehensive information about upcoming 3G technology but all was an unofficial version moreover they were hesitant to provide with the definite PTA policy on the adoption of 3G. Due to rivalry and cutthroat competition among the Mobile Telecom Operators, access to their information regarding up gradation or operational readiness of 3G infrastructure was somewhat inaccessible. 1.6 Research Methodology 1.6.1 Phase 1 Initially Problem was identified, Despite having second highest teledensity, Pakistan is the only country left in the region to deploy 3G Technology 1.6.2 Phase 2 In the second phase it was compulsory to get to know about the 3G technology right from the scratch to learn its economics over the existing technologies. We studied the architecture of the mobile networks of all the technologies from 1G to 3G consulting the web (thanks to the web inventors), the published white papers and the Books on Wireless Technology. 1.6.3 Phase 3 In this phase we paid visits to PTA, FAB and the Mobile Operators, and were able to get unofficial version of their views regarding deployment of long awaited 3G technology in Pakistan. Moreover we pondered over the case studies of different countries who adopted 3G technology. Example in hand is India. 1.6.4 Phase 4 While studying the international trend towards 3G we made a compared the statistics of the market and consumers of Pakistan and more over had a look into the concerns of the regulatory body and the mobile operators. 1.6.5 Phase 5 We then analysed the situation and came up with certain issues / concerns of the government, the mobile operators and the consumers. A solution representing remedial measures have been highlighted, following which will address the issues and create a roadmap for early adoption of 3G technology as there is lot of potential for the operators as well the government to earn fortune. 1.7 Structure of the Thesis Introduction (Chapter-1) In this chapter Introduction and Background along with significance of research, limitations and methodology has been highlighted. Literature Review (Chapter-2) In this chapter Mobile Wireless Technologies including 3G have been thoroughly deliberated upon with an over view on technologies beyond 3G. Analysis and Discussions (Chapter-3-6) In these chapters Consumer Market and Regulations have been dwelled upon to find out the impediments delaying the adoption of 3G in Pakistan. Epilogue (Chapter-7-8) In these chapters we have put across recommendations to the Government and the Operators to address the issues highlighted and pave a smooth way to adoption of the next generation telecommunication technology.

Anabolic Steroids for Non-Therapeutic Use Essay -- Sports Athletes Ath

Anabolic Steroids for non-therapeutic use Competition is in our blood. The human drive to compete-and-win—in the Ice Age hunters fighting to drag home the biggest woolly mammoth, the ancient Greek athlete aiming for a greater distance in the discus toss, and the modern weightlifter pushing for the gold medal—has been linked to steroid hormones, namely testosterone and its derivatives, circulating within us. In the latter half the last century, many looking for an added edge have turned to synthetic testosterone-like anabolic-androgenic steroids to build muscle and enhance competitive drive. The ingestion of substances for better performance is not new. Ancient Greek athletes took in lots of protein to build muscle. Norse warriors known as Beserkers looked to hallucinogenic mushrooms for inspiration in preparation for battle. The earliest documented modern "doping" with xenobiotics for enhanced performance is among swimmers in Amsterdam in the 1860s. In the decades that followed, doping with nonfoods such as strychnine, caffeine, cocaine, and heroin spread to other sports (24,4). The synthesis of testosterone in the 1930s sparked the introduction of anabolic steroids into competitive sports. In the 1952 Olympics, synthetic testosterone enhanced the Russian weightlifting team’s ability to pump metal, and heave off with a heap of medals. In 1958 the first anabolic steroids were developed by a U.S. pharmaceutical company. Use of anabolic steroids spread through the wide world of sports in the 1960s and 1970s and by the 1980s the drugs were discovered by nonathltetes in search of a better body (24,8). Reports from the 1990s have indicated use of steroids among college, high school, and even middle school students (24). Exa... ...ropionate injections on serum lipoprotein concentrations in rats. Medicine and Science in Sports Exercise. 31 (1999) 664-9. Plalatini, P et al., Cardiovascular effects of anabolic steroids in weight-trained subjects. J. Clin. Pharmacol. 36 (1996) 1132-40. Mewis, C et al., Manifestation of severe coronary heart disease after anabolic drug abuse. Clinical Cardiol. 19 (1996) 153-55. Ferrandez, MD et al., Anabolic steroids and lymphocyte function in sedentary and exercise-trained rats. J. Steroid Biochem. Molec. Biol. 59 (1996) 225-32. Boada, LD et al., Evaluation of acute and chronic hepatoxic effects exerted by anabolic-androgenic steroid stanozolol in adult male rats. Archives of Toxicology 73 (1999) 465-72. NIDA Report, Anabolic Steroids: A threat to mind and body. DHHS Publication No. (ADM) 91-1810. Norman, A, Hormones, 2 Ed. Academic Press, 1997.

Sexual Revolution and Methods of Contraception Essay -- Sex Protection

Sexual Revolution and Methods of Contraception Birth Control and Contraceptives The sexual revolution introduced a whole new idea of controlled births and the use of different forms of birth control. Contraceptives have been used since the time of the ancient Egyptians, but the sexual revolution introduced a whole new form and more efficient way to prevent conception of a child. The use of contraceptives helped control the spread of sexually transmitted diseases, lowered the percentage of illegitimate children, and reduced the risk of pregnancy. Even as early as the times of the ancient Greeks, people could tell the difference between abortifacients and contraceptives. During this era, things such as linen condoms, dried fish powder, and seasponges were used as forms of birth control. However, due to the use of technology and science, it has been discovered that some of the old forms of birth control can be considered deadly. Birth control has evolved through time in forms pessaries, plants, intrauterine devices, condoms, birth control pills, barriers, t he ring, and other unusual forms of birth control. Pessaries: Pessaries are vaginal suppositories. Used since ancient times, pessaries are still considered a fairly effective form of birth control. In ancient times, pessaries contained acacia gum which has evolved to spermicide now. One example, dating all the way back to 1850 BC, called the Kahun Papyrus, refers to a pessary of crocodile dung and fermented dough. Today, pessaries usually come in the typical waxy form of suppositories which contain spermicide like nonoxynol-9. The spermicide kills all the sperm so therefore, the egg is unable to be fertilized by the sperm and pregnancy does not occur. ... ...hrough time, birth control has affected society as a whole and changed the lives of the people living in the society of today. The evolution of birth control and contraceptives altered and changed tremendously during the years since the beginning of time. Works Cited - Landeck-Riker, Jennifer. "Ann Rose’s Ultimate Birth Control Links Page." 10 Nov.1997. http://gynpages.com/ultimate/ - McCleskey, Kim. "The History of Contraceptives." 1996. http://rtt.colorado.edu/~mcck/Home.html (This was an excellent source and gives great information about the history of contraceptives.) - Noble, Robert. "There Is No Safe Sex." Newsweek ( April 1, 1991). - Petrick, William. "The Hall Of Contraception." 27 March 1996. http://desires.com/1.6/Sex/Museum/ ( This is where I got all my pictures to illustrate this page.)

Milk †Nutrition Essay

Got Milk? â€Å"Milk is a white fluid secreted by the mammary glands of female mammals for the nourishment of their young, consisting of minute globules of fat suspended in a solution of casein, albumin, milk sugar, and inorganic salts† (milk). Humans have been consuming milk for thousands of years. As humans we usually consume milk beyond childhood getting it from our animal counterpart’s goats, sheep, and cattle, and using it as a food product. Nine out of ten of the milk consumed in the United States comes from cattle. There has been numerous debates on rather drinking milk is healthy for humans. Milk is present in numerous of humans all time favorite foods such as ice cream, yogurt, cheese, and butter, these products are known as dairy products. Milk comes in many different forms. For example: organic, conventional, homogenized, flavored, and non-dairy milk. Contrary to what many may think, there is no known difference between organic and raw milk. â€Å"Homogenization is a process that gives milk its rich, white color and smooth texture. Milk that has not been homogenized contains a layer of cream that rises to the top of a glass†. (Wokenfuss). Flavored milk is any milk with artificial flavoring including strawberry, chocolate, and vanilla flavored milks. Flavored milks contain more sugar and fat calories than unflavored milks, but it’s still contains the essential nutrients available in the milk. It was once said that â€Å"milk is one-stop shopping for nutrition†. Milk contains nearly all the nutrients that a growing child would need. It contains fats, carbohydrates, proteins, vitamins and minerals, all these nutrients are essential in not only growing children but human beings in general. Milk is known as being very rich in calcium. Numerous studies were conducted and it was shown that four out of five serving of foods rich in calcium such as milk, cheese, and other dairy products are needed to optimize peak bone mass during teenage years. â€Å"Calcium plays an important role in building stronger, denser bones early in life and keeping bones strong and healthy later in life. † It has been said that dairy foods rich in calcium could possibly increase the speed of weight loss and also reduce the amount of body fat. Milk also has a high quality in protein. Protein helps increase energy, and it also helps build and prepare muscle tissue. â€Å"Vitamins are organic substances essential for many life processes. Milk includes fat soluble vitamins A, D, E, and K†¦ Because milk is an important source of dietary vitamin A, fat reduced products which have lost vitamin A with the fat are required to supplement the product with vitamin A. † (Douglas). Many critics argue the fact that milk is more harmful to humans than helpful. Dairy products add to numerous health problems. Milk doesn’t possess iron of its own, so it’s possibly could harm a child’s ability to absorb iron. Iron makes up a large amount of proteins in the body. Having low amount of it could result in deficiency anemia. Large amounts of the American people are lactose intolerant, meaning they can’t consume large amounts of lactose which is highly present in milk. â€Å"Studies have suggested that some of the nutritional benefits of milk may be lost when a lactase-deficient [lactose intolerant] individual consumes milk. Not only does this person fail to receive the calories normally supplied by the undigested carbohydrates; resultant diarrhea may lead to loss of protein as well. † ( Oski). We all have heard the saying â€Å"Milk creates strong bones†. There have been numerous debates on whether the calcium in dairy products really does assist the bones. Statistics show that teenagers bone health is not contributed to the amount of consumed calcium, but the amount of physical activity they partaken in their earlier years. There also hasn’t been any evidence to support the claim that consuming dairy products on a daily basis can contribute to weight loss. Consuming milk also hasn’t proved to be to any assistance later in life. It has been proven that the consumption of milk does increase the risk of ovarian cancer. â€Å"Many researchers say dairy products are high in saturated fat and cholesterol and have been linked to numerous illnesses and diseases such as diabetes, prostate cancer, heart disease, various allergies and Crohn’s disease. † (Garcia). In conclusion, I believe that the consumption of milk is not an important factor in living a healthy and normal life. Large amounts of research and studies were conducted, and I’ve reviewed the pros and cons of milk and dairy products, and I conclude that there are more harmful after effects from drinking milk than beneficial for human beings.

Data Types and Why We Care | Written Assignment |

Data Types and Why We Care| Written Assignment| | | | Kayla| 1/30/2013| | Kayla Coleman Wednesday, January 30, 2013 Principles of Testing and Measurements Data Types and Why We Care There are a million different types of data in the world. Some types we have learned through years of education and others have yet to be discovered. One question about data types that is asked frequently is â€Å"Why do we care? † Though there is no text book answer; I believe we care because without these various types of data we will not be able to answer even the simplest of questions.When I think of the definition a simple question I think of a question that can be answered in a few words. A simple question that I would like answered is â€Å"What Is Your Favorite Color? † I have picked this question because it is simple to answer and understand. My method of measurement for this question would be by ranking. For example blue would be ranked the highest because most students liked blue. I have picked basic rating because it is the best way to find the answer that I need without added confusing when it comes to understanding the results.There are many different levels of measurement. All levels have different ways numbers can be used. One level is the nominal level. At this level Numbers can be used for tags or labels like Barcodes and social security numbers. When using nominal variables measurement means is classified as classifying cases in groups. These groups â€Å"must cover all cases† and can not belong to several groups (â€Å"Levels of measurement,†). Ordinal Level is another level of measure. With this kind of measure Numbers are mostly used to order just like in popularity.You have the jerks, the cheerleaders and the Nerds but we all know what order there is. The groups for ordinal variables are ordered but the distance between two adjacent categories may vary. Interval or Ratio Level is the third level of measurement. With Interval or Rati o Levels numbers are used to express quantities like the amount of money you pay for shoes in this case numbers are not just all-inclusive, mutually exclusive or ordered (â€Å"Levels of measurement,†). There are a lot more ways of measuring then we acknowledge like central tendency.Central tendency tells us where the middle of a bunch of data lies. The most common measures of central tendency are the mean, median, and mode. The Mean is the sum of the numbers divided by the number of numbers in a set of data. The Median is the number in the middle or the mean of two numbers in the middle when arranged in ascending or descending order. The mode is the most frequent number in the set (Saccuzzo & Kaplan, 2010). Stand deviation and the Z score are two more types of measure that can be used.The Standard Deviation measures the spread out of numbers. A measure of the more spread apart the higher the deviation. Standard deviation can be calculated  as the root of variance, which is the average of from the Mean. The Z score explains if a score is equal to, below or above the mean of a group of scores. Basically, it compares scores. The normal Z score is between -2 and +2. Anything other than this are considered â€Å"less typical† of scores (Saccuzzo & Kaplan, 2010). Survey research is one way of measurement.Survey research is great when answering of respondents. It can be a paper-and-pencil form or a one-on-one in-depth interview. Scaling is another way of measurement; it deals with the construction of an instrument that relates to qualitative and quantitative metric units. The purpose of qualitative research is to gain more exposure to an area (Trochim, 2006). Qualitative research is good for obtaining very detailed information that allows you to examine the area of interest in great detail.However too much detail does make it difficult to determine what the generalized theme is. An indirect measure is an unobtrusive measure that allows researchers to collect data without doing a formal procedure (Trochim, 2006). I believe that a questionnaire would give me the most valid answers to this question. Overall, the large amount of data and measures of data is very overwhelming if you do not know what to look for especially if two methods measure the same thing.However that is a large amount of information out there that can help us clear up the confusing methods of measures this way we can have a valid more efficient research outcome. Reference Levels of measurement. (n. d. ). Retrieved from http://weber. ucsd. edu/~aronatas/levmeas. html Saccuzzo, D. , & Kaplan, R. (2010). Psychological testing: Principles, applications, and issues. New York, NY: Trochim, W. (2006, October 20). Research methods – knowledge based. Retrieved from http://www. socialresearchmethods. net/kb/unobtrus. php