Can China Rise Peacefully Term Paper Example | Topics and Well Written Essays - 4000 words

Can China Rise Peacefully - Term Paper Example ry, when it wanted to become the regional hegemonic power of the Western Hemisphere will provide the background of the arguments presented herein accordingly. Most importantly, the core of this investigation is set in the arguments of two antagonistic theories of international relations, Neo-realism and Liberalism, which will provide the theoretical foundations for the arguments that will follow. For the purpose of clarity and objectivity, this investigation will consider the divergent theoretical perspectives in reference to the potential consequences of China’s increasing assertiveness and intent for regional hegemony of Asia Pacific to the prevailing US-led global power balance. Finally, this investigation will conclude by integrating both arguments to present a comprehensive and well-informed perspective on the subject at hand without sounding overly biased in opinion. Over the years, from late 20th century through early 21st century, the People’s Republic of China (PRC) has experienced a stead and impressive economic growth record that has seen it emerge as a significant player in global affairs, convincing the west of its intent to be a superpower (Ming, 2014). The debate surrounding the rapid growth of China’s economy, as well as its increasing global influence in world politics for the past two decades has revolved around the possible impact of the rise on global power relations (Yue, J. 2008 p.439). China’s increasing assertiveness in the Asia-Pacific region has caused uproar in the global political arenas with alleged fears over its processes of growth and the threat it poses to the global power balance (Guo 2007, p.228). Put in perspective, the worsening global economic situation from the onset of 2008 has further aggravated fears over the likelihood of a destabilization in the global power system, in the face of the em erging China threat. Several processes have already been initiated to contain China’s increasing influence in the Asia-pacific

Minimum Wage Essay Example for Free

Minimum Wage Essay The minimum wage is the lowest rate at which a worker can be played. There she minimum wage laws pegged to hourly, daily and even monthly rates, although U. S. law is pegged to an hourly wage. Also, a minimum wage law usually makes it illegal for a person to sell his labor for less than the minimum wage rate The general purpose of the minimum wage is to guarantee a living wage to all workers who work a standard period of time, whatever that might be. In theory, any labor who works 40 houses a week on minimum wage should be at or above the poverty level line. However, the minimum wage has not kept up pace with the inflation in the United States and the cost of living increases more than the wage increases that are given and that way behind the standards Minimum wage laws were first started in Australia and New Zealand in the 1890s. The first minimum wage to be law was in Massachusetts in the 1912 but it only applied to children and women. The federal minimum wage was established in 1938 by the Fair Labor Standards Act. Initially set at 25 cents an hour, the wage has been raised periodically to reflect changes in inflation and productivity. That the mimic wages often involve protracted political battles, Did you know that one in five Americans worked in the poverty levels by the guide lines of the federal government,† Paul Oysterman, an economist at the M. I. T. Sloan School of Management wrote in a recent New York Times editorial. He says the current minimum wage is lower, in inflation-adjusted terms, than it was in 1968. Currently, 6 percent of all hourly workers make no more than the federal minimum wage of $7. 25, TIME. com In theory it sounds like a good idea to give everybody a raise, but at what expense? By raising minimum wage it was supposed to make it where people would be able to support themselves and get off of government assistance. Well, they did get a raise and are still on government assist. So my question is: what do you think they should make to be able to totally take care of themselves and their family? Do you think raising minimum wage is the answer? Do you realize that the businesses must be able to meet a payroll? When you raise minimum wage it causes a business to have to raise their prices if all possible which in turns makes their customer base upset, which in turn could cause layoff and less businesses hiring, which in turn means the business will not be properly taken care of because you cannot afford to staff it properly because you cannot afford to pay the higher wages. I own a restaurant which hires people 16 years and older. Now when you hire a person in and they start off earning top wages and there is no bottom, then there is no reason from them to try and do better because you cannot afford to give them raises. I feel like the government is wanting business to be the new welfare system and we cannot afford to be. Please stop this and let the business decide how much an employee is worth. Minimum wage was created to be a starting point in people lives not a living. Our government doesnt want good paying jobs so they are trying to make minimum wage work for the people and it will not! Restaurants and other businesses that pay minimum wage are for a reason. We do not charge a lot for our products, therefore, we cannot afford to pay a lot for our help and you do not need a college education to work at a minimum wage job. Stop this before there are even fewer jobs. Right now I have to raise my prices due to Ohio raising their minimum wage again. Let me decide who gets the raise not the government! Twenty percent of those living on the minimum wage the last time it was raised in 1991 were in poverty, and an additional 13% were near poverty. In 1993, the President expanded the Earned Income Tax Credit (EITC), which raised income for 15 million families, helping many working families move above the poverty line. Yet to complete the goal of insuring that full-time working families are out of poverty, we need to raise the minimum wage. Recent analysis by the Economic Policy Institute and preliminary work by the Department of Health and Human Services suggests that 300,000 people would be lifted out of poverty if the minimum wage was raised to $5. 15 per hour. This figure includes 100,000 children who are currently living in poverty. But the debate has been muddied by several myths that anti-minimum wage forces repeat at every opportunity. Myth: The only Americans working for the minimum wage are teenagers. Reality: 63 percent of minimum-wage workers are adults age 20 or over. (Source: Bureau of Labor Statistics) Myth: Minimum wage workers dont support families. Reality: The last time the federal minimum wage was increased, the average minimum wage worker brought home 51 percent of his or her familys weekly earnings. (Source: Analysis of Census Bureaus Current Population Survey by Professors David Card and Alan Krueger) Myth: Raising the minimum wage hurts the poor by causing job loss. Reality: Nearly 10 million working Americans would get a pay raise if the minimum wage is increased to $5. l5 per hour. As Nobel Prize-winning economist Robert Solow said, [T]his evidence of job loss is weak. And the fact that the evidence is weak suggests that the impact on jobs is small. (Source: New York Times, January 12, 1995) Myth: The only study showing that raising the minimum wage does not cost jobs was a study funded by the U. S. Labor Department. Reality: One major study conducted in 1992 and financed by Princeton University and the University of Wisconsin was published by two Princeton University economists. One of those economists later joined the Labor Department. (Source: Washington Post, January 11, 1995) Furthermore, a similar conclusion has been reached by at least ten other independent studies. Myth: Raising the minimum wage will have a negligible impact on peoples lives. Reality: A 90-cent per hour increase in the minimum wage means an additional $l,800 for a minimum wage earner who works full-time, year round as much as the average family spends on groceries in more than 7 months. (Source: Bureau of Labor Statistics) Myth: Increasing the minimum wage has always been a bitter, partisan issue that only Democrats have supported. Reality: In 1989, the last time the minimum wage was increased, the House of Representatives vote in favor of the the current poverty line for a family of 4 is $15,600. A family of 4 with one worker earning $4. 5 an hour and working full-time year round ($8,500) would receive a tax credit of $3,400 under the 1996 provisions of the EITC, will collect food stamps worth $3,5l6, and will pay $650 in payroll taxes. This family would end up $834 below the poverty line. On the other hand, for a family of 4 with one worker earning $l0,300 (a full-time year round worker at $5. l5 per hour), the EITC would provide the maximum tax credit ($3,560), food stamps would provide $2,876, and they would pay $788 in payroll taxes. The increase in the minimum wage along with EITC and food stamps would lift this family out of poverty. Overtime Federal law requires that employees who are not exempt receive overtime pay for any time worked beyond forty hours in any one workweek. The rate of overtime pay is one and one-half times the employees regular rate of pay, and must be paid in wages, not in goods or time off. A workweek is defined as one period of 168 hours, or seven consecutive twenty-four hour periods. The workweek may start at any time, or on any day, as long as the starting day and time are applied consistently. Employees who are eligible for overtime pay may not waive their right to receive overtime

Admissions Essay: To Fly Alone :: Medicine College Admissions Essays

Admissions Essay: To Fly Alone "Dr. Johnson ... Dr. Johnson...." As I wearily walked down the artificially lit corridor, I realized it was my father's doctor being paged. I turned and ran towards the intensive care unit I had left a few minutes ago. The sterilized odor of the hospital overwhelmed me as I raced through a maze of white walls to confront his death. After bolting through heavy metal doors, I saw doctors and nurses rushing frantically around the room. I could only hear one sound. It filled the air and was audible above all the commotion and the heavy pounding of my heart. The monotonous beep of the monitor meant Daddy was gone forever. While sitting next to his cold body, I focused at the crimson drops, which stained the yellow linoleum floor and slowly remembered what a terrible ordeal the past six weeks of hospitalization had been. My Life had changed forever since the day I sped through traffic with my Dad shivering in the back seat next to my worried mother. I was scared to death without even knowing that the killer was Leukemia. Although the chemotherapy proceeded well, it gradually wore my father away. The first side effects were a loss of appetite accompanied by nausea and vomiting. His hair fell out next, and I could tell my Father's courage was beginning to waver. A look of pain and anguish had replaced his usual smile and with each passing day he looked more like my grandfather. It all seemed like a bad dream. While packing up hours after he had passed away, I found a note directed towards me. It was in Father's handwriting; blurry scribbles because the medicine made his hands shake. I sat down and cried because it said in Spanish, "My son, it is time for you to fly alone." It is hard to understand Dad's absence, and that he left on my 17th birthday. Although I miss him everyday I am grateful for all the time we spent together and everything my father taught me. He pointed me in the right direction and made me believe in myself. There is good in this beautiful world, and life will always receive my best effort. I will never be embarrassed by my heritage and will succeed. I know he is proud of me.

Analysis of Countee Cullens Yet Do I Marvel Essay -- Countee Cullen Ye

Analysis of Countee Cullens Yet Do I Marvel Poetry is often meant to be smooth, flowing, pleasing to the ear and the mind. To achieve this effect, many poets use different poetic techniques to help convey the meanings of their poetry. In the sonnet, 'Yet Do I Marvel' written by Countee Cullen, many different features of poetry is used. In this essay, I will discuss the relationship between the meanings and the theme Cullen tries to convey in his sonnet and the techniques of metaphors, both religious and non-religious, allusions to Greek mythology, different rhyme schemes and repetition that he uses. In his sonnet, Cullen uses strong themes of religious metaphors while adding many non-religious metaphors at the same time. The continuing theme throughout the sonnet is the mysteriousness of God, and how He is unwilling to share the secrets of the universe by answering the speaker's questions. Cullen begins with stating that his belief in God is that God is good natured, 'I doubt not God is good, well-meaning, kind,' (Line 1). The first line briefly makes your mind question the sentence while you experience the starting of the theme. Using different metaphors, Cullen vividly expresses his confusion of what the purpose of his existence is and why God does what he does. 'And did He stoop to quibble could tell why / The little buried mole continues blind, / Why flesh that mirrors Him must some day die,' (Lines 2 - 4). In these lines, Cullen clarifies his position with God in stating that his questions are but 'quibble' to God, thus putting himself far below God. Cullen uses the me taphor of the mole to represent how he is blind to the reasoning of God's actions, while at the same time questioning God of why a little mole continues to live blind. In the next line, Cullen uses a biblical metaphor when mentioning 'flesh that mirrors Him' as it is in the bible that it states 'God created Adam in His image.' Cullen refers this flesh to be humans and questions God for the purpose of death. Using these metaphors, Cullen creates a more vivid image in the imagination than he would if he were to question God outright. ?Why flesh that mirrors Him must some day die,? carries many more metaphorical images than ?Why do we die?? does, and that is one of the efforts and understanding Cullen is most likely trying to convey in his sonnet. Cullen?s brilliant... ...t a view of life, that is "black," and at the same time God made him a poet?someone who is supposed to study the world around him and express what he or she sees in words and verses. Cullen marvels at God's decision to have someone tell the world of the "blackness? which he sees. In this case, the person God has decided to tell the world is the speaker himself and Cullen contemplates what possible motivation would God have for doing this. In using constant repetition of the theme, Cullen allows the theme to clearly stand out and show itself without having to hide behind words with deeper meanings. This is effective for emphasizing the theme and ensuring that it is easily understandable. Metaphors, allusions, rhyme scheme and repetition are all techniques that Cullen used in his sonnet to improve the understanding and assist the interpretations of the poetry. His use of metaphors painted pictures in the mind while his allusions told stories with merely a few words. Rhyme scheme and repetition both assisted in the emphasis of the theme and worked exceptionally well. It is in works such as Cullen?s ?Yet Do I Marvel? that poetry and philosophy come together in a warm embrace.

The Life of Mikhail Gorbachev

Kelsey Murray World History 26 February 2013 Nick Williamson The Life of Mikhail Gorbachev Mikhail Gorbachev’s life began much like many children in the small village of Privolnoye. His parents were peasant farmers but when the collectivization program took action, Gorbachev’s father went to work for the government. Only ten years old when the Nazis invaded the Soviet Union, Gorbachev experienced his father being drafted into the Soviet military. After four torturous years in the military, Gorbachev’s father survived. Mikhail Gorbachev was known as a hard worker, excellent student and did his best to help support his family.His interest in politics lead him to join the Komsomol. Gorbachev wanted to exceed in everything he did. He decided to apply to the prestigious Moscow State University to further his education. After being accepted he decided to study law in order to better his speaking and debating skills, which would help in his political career. While in co llege he met Raisa Titoenko and fell in love. The two married in 1953 and four years later had their first and only daughter whose name was Irina. The start to Gorbachev’s political career began with the promotion into the Communist Party.He eventually received the highest position, first secretary. National politics is what he was striving for and at age 47 he obtained the position as the youngest member of the Politburo. Gorbachev had lots of experienced behind the scene working with General Secretary Yuri Andropov and felt that he was ready to achieve the title, General Secretary. After failing once he tried again and became the leader of the Soviet Union. Gorbachev had a strong belief that the Soviet economy needed reforms. He did something many citizens never saw coming. He allowed and encouraged citizens o freely voice their opinions. He also allowed Soviet citizens to travel, cracked down on alcohol abuse, and pushed for the use of computers and technology. He’s most impressive movement was the deal he made between the Soviet Union and the United States. The two countries competed with each other over who could produce the largest cache of nuclear weapons. He met with Regan and agreed to stop making nuclear weapons, to end the arms race. Gorbachev did many good things for the Soviet Union and was even awarded the Nobel Peace Prize in 1990 but yet many citizens disliked Gorbachev having ower and continued to be critical towards him. Did the citizens have a reason to be critical? The answer is yes. Gorbachev’s reforms did not help the Soviet Union’s economy but actually weakened it. This caused many countries to abandon Communism and many republics within the Soviet Union demanded independence. All the pressure from the failing economy proved too much for Gorbachev and he resigned as president of the Soviet Union on December 25, 1991. (Rosenberg) Works Cited Rosenberg, Jennifer. â€Å"Mikhail Gorbachev. † About. com. 26 February 2013. http://history1900s. about. com/od/people/p/gorbachev. htm

Rice Thailand Native Foods

Rice Thailand Native Foods Introduction Despite the fact that food is a commodity consumed by all people in the world, different countries and people are associated with a specific type of food which is native to them. The native food types of any country or ethnic group make the larger part of their cuisine as part of cultural representations.Advertising We will write a custom essay sample on Rice: Thailand Native Foods specifically for you for only $16.05 $11/page Learn More The specific food types therefore contribute to their culture and values in the society. However, there are regions that hold more to their cultures as compared to others. For example, most of the Asian nations still hold their cultural roots unlike their counterparts in Europe and America. This paper is therefore about the representative food(s) of an Asian nation known as Thailand. The Country’s food item Thailand is a country located in the south east of Asia. The common language spoken in Thailand is Thai hence making the Thai people. The country is endowed with many natural resources as well as agricultural products such as rice in which Thailand is the largest world exporter of rice (Cummings, 2000, p.211). Thus, rice is the staple food of the Thai people and especially the jasmine variety of rice which makes up the largest portion of the Thai cuisine. The Thai cuisine is known internationally because of the seasoning combination used. As a matter of fact, it is a blend of all the five key tastes namely spicy, sour, bitter, salty and sweet. The Thai cuisine is made up rice (Known as Khao in Thailand) that is served with other accompanying dishes made of sauces, salads and curries among others (Kahrs, 2000, p. 76). Its role, image and use Social occasions in Thailand are not complete without the Thai cuisine. As a matter of fact, food in Thailand can be a reason to hold celebrations, something that is very unusual in other nations. Apart from rice forming part of every meal in Thailand, it plays a great role in earning foreign income to the country. This is because, it exports rice to the world market and because of its high quality it has high demand in the market thus fetching much income (Schmidt, 2005, p.1). Rice has on the other hand created an image of Thailand globally. Thailand is among the first nations that people think of when you mention rice.Advertising Looking for essay on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More History of rice in Thailand For a long period of time rice has formed the heart of every meal in Thailand. Rice is said to have its origin in the Asian arc, from where it spread to other continents. However, the Thailand people have their own history with regard to the origin of rice. They claim that Lord Vishnu is the one who gave birth to rice thereafter the people were taught how to raise the rice by a God called Indra (Huke and Huke, 1990, p.1). It is be cause of this that the growth of rice in Thailand is considered as a holistic activity despite its economic and health benefits. Social and cultural roles of the Rice in Thailand Rice plays a big role in terms of social and cultural functions among the Thai people. It is the main food consumed during their social occasions and gatherings. As mentioned above, the practice of growing rice in Thailand is not only for health and economic benefits but it is also a cultural practice. It is the food that is used in shrines to give to the Thai gods. Studies done have also indicated that the spirit of rice is usually attached to the rice fields hence making rice a holistic commodity in Thailand. It is because of this that throwing away rice in Thailand is a taboo, which if gone against may lead to bad omen to the land. Religious uses The native food of Thailand has religious uses in that there is the ‘god of rice’ who gets very annoyed whenever rice is thrown away. The god of ri ce may cause bad luck or even phenomena such as famine whenever he is angry. It is therefore a taboo to throw away food and especially rice in Thailand. Because of this, most of the restaurants in Thailand have employed a deity who keeps watch as people eat to ensure that no food with rice is thrown away. In addition to this, since most people in Thai are Buddhists, they make food offerings in the temple which comprises of rice to feed the spirits. Conclusion From the above discussion it can be clearly seen that rice plays a great role among the people of Thailand as their staple or native food. This importance ranges from economic, food, social and cultural benefits. It has also been seen that rice is the forms the heart of the Thai cuisine (Schmidt, 2005, p.1).Advertising We will write a custom essay sample on Rice: Thailand Native Foods specifically for you for only $16.05 $11/page Learn More However, due to relations with their neighbouring countries, t he Thailand cuisine has had variations as compared to the traditional cuisine. This is because of the cultural influences from those countries. Nevertheless, the influences have not had much effect because the Thai cuisine is still internationally famous for its unique taste. Reference List Cummings, J. (2000). World Food Thailand. Victoria, Australia: Lonely Planet Publications Huke, R. and Huke, H. (1990). A Brief History of Rice. Web. Kahrs, K. (2003). Thai Cooking. Dallas: Hackberry Press. Schmidt, D. (2005). Thai Food and Culture. Retrieved from https://www.thespruceeats.com/thai-food-and-culture-3217393

Ibsens A Dolls House essays

Ibsens' A Dolls House essays Key Question: Did Nora make the right decision? Why or why not? Nora and Helmers relationship in Ibsens play, A Dolls House, is a very fictitious relationship. The way Nora is treated, called names, and bossed around, degrades the female society. Feminism lurks throughout the whole play. The idea that women are nothing but a house pet is interpreted through Nora by Helmer. Helmer as egotistical as he is, uses and plays Nora like a toy for his own benefits, to look good in front of his co-workers and friends. A Doll, an empty headed play thing, was what Nora was living as under Helmers roof. The light shines on Nora one day and knocks some sense into her about the dirty self-degrading life she was living, and so she leaves Helmer and her children. Yes, Nora did make the right decision because she needed to take control of her own life and do as she pleases. She needed to teach herself how to survive on her own, make money for her own self. She did it for the better of her children. Didnt you tell me no one had been here? [shakes his finger at her.] My little songbird must never do that again. A songbird must have a clean beak to chirp with-no false notes! (Ibsen 25) Controlled, treated like a child, called names by Torvald and Nora does nothing about it as if she feared him or was hiding something from him just as the time she hid the macaroons from him. Nora is not a little girl, she deserves the respect as an adult and not be called names and referred to as a little squirrel or spendthrift. The only reason Nora probably stayed with Torvald for so long was because she needed him for various reasons, but mainly for money. Yes, Torvald, I cant get along a bit without your help. (Ibsen 26) Torvald took advantage of her helplessness for his own little schemes. ...as a matter of course he will come to dinner with us. However, I will ask him when he comes in t ...

Juvenal - Roman Writer of Satire

Juvenal - Roman Writer of Satire Satura tota nostra est.Satire is all ours. Some of our favorite television shows and movies are satires. This usually biting form of entertainment owes its creation not to the artistic Greeks, who developed comedy, tragedy, lyric poetry, and more, but to the usually thought of as more practical Romans. Roman verse satire, a literary genre created by the Romans, is personal and subjective, providing insight into the poet and a look (albeit, warped) at social mores. Invective and obscenities, dining habits, corruption, and personal flaws all have a place in it. Juvenal was a master of exposing the foibles of society, with elegance. Roots of Satire What We Dont Know About Juvenal While we must always be leery of assuming the persona (the speaker in the poem) speaks for the poet, in the case of the last and greatest of the Roman satirists, Juvenal, we dont have much choice. He wasnt mentioned by most contemporary poets and is not included in Quintilians history of satire. It wasnt until Servius, in the late 4th century, that Juvenal received recognition. We think Juvenals full name was Decimus Iunius Iuvenalis. Juvenal may have come from near Monte Cassino. His father may have been a rich freedman and rhetorician. This deduction is based on the lack of a dedication in Juvenals satires. Since Juvenal didnt dedicate his work, he probably didnt have a patron, and so may have been independently wealthy, but he may have been very poor. We dont know Juvenals birth or death date. Even the period at which he flourished is debatable. It is possible he outlived Hadrian. What is clear is that he endured the reign of Domitian and was still alive under Hadrian. Topics of Juvenals Satires Juvenal wrote 16 satires the last unfinished varying in length from (xvi) 60 lines to (vi) 660. Topics, as stated in his opening programmatic satire, include all aspects of real life, past and present. In reality, the topics center on all aspects of vice. Book 1 Satire 1 (In English)Programmatic satire in which Juvenal states that his purpose is to write satire in a world where sinners are men of power.Satire 2 (In English)Satire on homosexuality and the betrayal of traditional Roman values.Satire 3 (In English)Contrasts corruption of modern Rome with the older simple way of life still found in the country.Satire 4Farcical political satire about the meeting of an imperial council to determine how to cook an outlandish fish.Satire 5Dinner party at which the patron continually humiliates his guest client. Book 2 Satire 6A wonder of misogyny, a catalogue of evil, eccentric, and depraved women. Book 3 Satire 7Without patronage in high places, intellectual pursuits suffer privations.Satire 8Aristocratic birth should be accompanied by noble behavior.Satire 9A dialogue in which the author assures Naevolus, a male prostitute, there will always be work for him in Rome. Book 4 Satire 10What should be prayed for is a healthy mind and body ( mens sana in corpore sano)Satire 11Epistolary invitation to a simple dinner.Satire 12Description of sacrifice to be made for the safe escape of a man named Catullus from a storm at sea because he jettisoned his treasures. Book 5 Satire 13Consoles Calvinus on his loss of money.Satire 14Parents teach their children the vice of greed by their example.Satire 15Mankind has a tendency towards cannibalism and should follow Pythagoras dietary recommendations.Satire 16Civilians have no redress against military assaults. Sources Michael Coffey: Roman SatireWilliam J. Dominik and William T. Wehrle: Roman Verse Satire   Silver Age Roman Satire Review: Roman Verse Satire Satires Origins E-text of J.W. Mackails Latin Literature Part III. Chapter IV. Juvenal Juvenal Net Links

Culture Appropriate Essay Example | Topics and Well Written Essays - 500 words

Culture Appropriate - Essay Example The story showed the fusion of the American and Mexican culture as the characters, who were of Mexican heritage tried to integrate themselves into the American society. The fact that story focuses on the issue of gender equality from a feminist perspective, the role of women in the society and cultural integration justifies the work as a culturally appropriate one and underlines its importance as a good cultural source for the American literature. It could be seen that Cisneros tried to draw reference from the American society that has women withdrawing themselves from the role that culture assigned to them and make attempt to attain a certain degree of independence. It also shows the extent at which women struggled against stereotypes and taboos that have a cultural undertone (Perkin & Perkins 2038-2042). What you Pawn I will Redeem by Sherman Alexie shows the journey of the protagonist, Jackson, a Spokane Indian to repossess the powwow regalia of his grandmother. The cultural appro priateness of the Alexie’s work is evident from Jackson’s description of the oppression and violence which is common with indigenous America.

Final Essay Example | Topics and Well Written Essays - 250 words - 2

Final - Essay Example This would apply to short term investments that are made in the nation as well. It would be advisable in such a scenario to hire local labor. 3. 1. Mr. Likesdrawing’s argument would not hold up in court owing to the fact that there may be little change in the original that he has created. The intent of the newly created work would not be significantly different from the original, as a result of which he would have to pay Mrs. Photolover money for a settlement. 2. The cartel would be involved in illegal activities owing to their efforts at reducing competition. The shared intent of creating artificial changes in the market (demand and supply) means that they are in violation of competition laws, thereby passing on the burden to consumers. The producers would need to follow fair practices and allow the market to set its own prices. 1. Apple’s push towards acquiring a large market share in offering music streaming services would run up against laws of the European Union that stand against large companies using their clout to intimidate smaller ones. The laws against Abuse of Dominance (Article 102) would be useful in the sustenance of smaller companies like Spotify. Several cases such as the one against Russian gas supplier Gazprom could be a blueprint for understanding such issues (Bell and Madej

Classroom Management and Student Discipline Research Paper - 1

Classroom Management and Student Discipline - Research Paper Example 1). Thus, classroom management is instrumental to both effective learning and teacher retention. Classroom management strategies are highly defined by theoretical assumptions borrowed from various disciplines such as developmental psychology and biology. Borrowing from these disciplines is logical since classroom management is highly contingent to the specific age group. The goal of this essay is to examine the theoretical models behind the practices in classroom management. Towards this end, I will be comparing and contrasting three theoretical strands in classroom management practices. These are reinforcement theory, classroom ecology and group process, and child-centered traditions. The succeeding section of the essay highlights the theories I have chosen and provide examples of strategies that are hinged on the specific theory discussed. The third section will engage in a critical analysis of these theories. In conclusion, I will argue that the major theories though diverging at some points, do not necessarily contradict each other. I will emphasize the need for more empiri cal data on the classroom management strategies and the need for teachers to continuously engage in research to develop effective practices that have sound theoretical foundations. Strategies and practices in classroom management are hardly created from air. â€Å"There is no evidence to support the assumption that new teachers will just â€Å"pick up† classroom management skills given the experience and time (Ingersoll & Smith, 2003, p. 3). Like any discipline, effective techniques evolve through philosophical discussions and sound theoretical background. The following section discusses three of these major theories. Behaviorism became a popular concept in the early twentieth century, from which the reinforcement theory developed. â€Å"Reinforcement theory emphasizes the centrality of

Fundamentals of International Business Essay Example | Topics and Well Written Essays - 500 words

Fundamentals of International Business - Essay Example After more than 10 years in operation, NAFTA certainly has resulted in major changes in the trade and overall economic system, but the overall impact, whether positive or negative, needs to be evaluated in a perspective that is broader than the immediate repercussions. NAFTA was created to ease trade restrictions and tariffs among its three member nations. However, a number of economists and politicians think that the trade agreement resulted in an economic downturn in the United States. In a report for the Economic Policy Institute (EPI), for instance, Scott (2003) stated that there have been false promises on the part of NAFTA with regards to improvements in the economy. This is because the agreement caused an imbalance in the trade system, resulting in job losses, company closures and a shift of investments to Mexico, which offered lower capital outlays and better profitability. Most of the jobs lost were in the manufacturing sector, as more factories were transferred to Mexico for cost-efficiency purposes. The EPI evaluation showed that the number of jobs lost, predominantly in the motor vehicle, textile and apparel, and computer and electrical appliance industries, greatly outnumber the jobs created as a result of NAFTA (Scott, 2003). While Mexico benefited much from the NAFTA deal, other exporters such as those in the Caribbean region suffered, as it became more difficult for them to compete with Mexican

Love and time Essay Example | Topics and Well Written Essays - 1000 words

Love and time - Essay Example Likewise, the second which will be analyzed is Andrew Marvell’s â€Å"To His Coy Mistress†. Even though these two points were written in roughly the same timeframe, the key differential which will be analyzed is with regards to the way in which the respective authors understand love and somewhat of an asymmetrical manner. As will be discussed within the preceding analysis, John Donne’s point focuses upon love existing outside of the con strains of time whereas Andrew Marvell’s point focuses upon the immediacy, urgency, and physical necessity of love existing within the very moment. Through an analysis and discussion of these facts, it is the hope of this author that the reader will gain a more informed understanding with respect to the way in which love was understood in different ways by different authors; even within the same era. Firstly, with regards to Andrew Marvell’s poem, â€Å"To His Coy Mistress†, the reader can quickly come to unde rstand that the approach that this particular poet utilizes is one that places a profound level of emphasis and importance upon what can only be described as a â€Å"carpe diem† approach to life. Within this particular approach, the poet encourages the Mistress to accept his sexual advances and to discontinue her coy behavior. However, by much the same token, rather than merely seeking to break down the walls of seeming rejection that the woman places as an impediment for the subject to overcome, a further focus is placed upon insisting that the love and devotion that he shares for her is not as fleeting and short-lived as a mere sexual fascination. Instead, the author focuses a great deal of energy on examining the fact that even though the time to act is now and an urgency, tension, and immediacy defines the love and passion that the subject has for the Mistress, a deeper and more profound realization of what defines love and the eternity of passion and interest that the su bject could direct for this Mistress if only she opened her heart and her body to the subject is reflected in a variety of different ways. For instance, after the exhortation to stop dismissing the advances of the suitor, Marvell references the fact that in so doing the woman would be able to experience love as she had never before seen it. Ultimately, what is presented to the reader is an argument for the immediacy, passion, and necessity to experience love in the moment. However, due to the fact that a woman would likely find the emotion of immediacy and the need to seize the day as alarming and definitive of a passing craze or crush, the poetry goes to great lengths to prove that the nature of the emotions that are being defined are not short-lived but will instead last for far longer than life itself is able to exist. By means of contrast, John Donne spends almost the entirety of his point in discussing the fact that love does not require a public profession and easily understoo d emotions. Ultimately, the key differential between these two poets is with regards the fact that John Donne’s poem focuses upon the fact that time in and of itself is unimportant to love and love exists beyond and outside of this temporal concept/construct (D'addario 421). Completely contrary to Andrew Marvell’

Fundamentals of International Business Essay Example | Topics and Well Written Essays - 500 words

Fundamentals of International Business - Essay Example After more than 10 years in operation, NAFTA certainly has resulted in major changes in the trade and overall economic system, but the overall impact, whether positive or negative, needs to be evaluated in a perspective that is broader than the immediate repercussions. NAFTA was created to ease trade restrictions and tariffs among its three member nations. However, a number of economists and politicians think that the trade agreement resulted in an economic downturn in the United States. In a report for the Economic Policy Institute (EPI), for instance, Scott (2003) stated that there have been false promises on the part of NAFTA with regards to improvements in the economy. This is because the agreement caused an imbalance in the trade system, resulting in job losses, company closures and a shift of investments to Mexico, which offered lower capital outlays and better profitability. Most of the jobs lost were in the manufacturing sector, as more factories were transferred to Mexico for cost-efficiency purposes. The EPI evaluation showed that the number of jobs lost, predominantly in the motor vehicle, textile and apparel, and computer and electrical appliance industries, greatly outnumber the jobs created as a result of NAFTA (Scott, 2003). While Mexico benefited much from the NAFTA deal, other exporters such as those in the Caribbean region suffered, as it became more difficult for them to compete with Mexican

American Airline Essay Example | Topics and Well Written Essays - 500 words

American Airline - Essay Example At the same time, it maximizes on the profits whenever apparent (Oliver, 108). In addition, this strategy trims down the stiff competition from rival airlines and enhances quality services (Koontz, 439). To understand how the airline maximizes profits and selling amount needed to determine the optimal mix of fare for this flight, the super 80 jet with a carrying capacity of 125 to calculate was provided. Exhibit 1 shows past information of this flight’s cumulative graph and shows that the fare for this flight ranges from $170-$750 per seat. Chances are that 20-25 booking opportunities will be vacant for us to retain the customers, as all tickets are refundable. This gives us enough time to bid new prices for the flight before any booking announcement has taken place. Additionally there is a 15% and 20% no show flow of local passengers, and obviously, demand is greater for the lower charge than the higher charge; hence, no fiscal records for no-shows. Profits are an unconstructive action due to spoilage and over-sale penalties, yet it is an affirmative action due to the optimal mix fares. The percentage of cost incurred due to spoilage is $150 each, and the penalty for over-sa le is $100 per passenger for five passengers and below, $250 per passenger for six to ten passengers and $500 per passenger for eleven and more passengers. Fares are determined by the rule of supply and demand; that is, when the departure date is near, and the fare decreases when the flight is sparsely booked, and seats start to run out the fare increases. In regard to the super 80 jet, the capability of bidding the prices is used to compel acceptance or rejection of bookings, which is from $170-$750 per seat. For example, a customer asked for the pro-rated fare, which is greater or equal to your bid price, the entire passengers are accepted with the same fare, thus determining the proceeds. As stated earlier, profits are determined

Stereotypes of Culture Essay Example for Free

Stereotypes of Culture Essay This essay aims to explore benefits and disadvantages for managers to use sophisticated stereotypes. Stereotypes provide international managers an advantage of ‘first guess’ about cultural behaviors in countries and organizations so that they can develop appropriate strategies to cope with cross-cultural problems. However, it causes three drawbacks. If stereotyping is judging a group of people on the basis of theoretical concepts, it will be called ‘sophisticated stereotyping’ (Osland and Bird, 2000). The greatest benefit is sophisticated stereotype offers basic cultural knowledge, and is useful for managers to guess about cultural behavior in a country. Therefore, it is used as assistant tool in building unitary organizational cultures. The tourist firm relied on Hosftede’s framework. Because Japanese are collectivistic while Danish are individualistic, the Danish director had to consider whether provide guidance to Danish staffs or strict control to Japanese staffs, instead using individual competencies for all employees. Another example, the audio-visual firm took a chance of gender differentiation between Denmark and Japan to recruit suitable talents for their Tokyo office because it knows Japanese prefer masculine values. Hence it can say that sophisticated stereotypes can be a helpful weapon in implementing cultural management strategies. In contrast, sophisticated stereotypes cannot capture paradox which is the first disadvantage. In particular, if there are no exact cultures as described, people who depend on generalization studies cultural barriers will get confused. However, people who are acquired with cultural differences via their knowledge and experiences will be able to foresee what is most important and the best thing to do in foreign countries. Second, theoretical studies in national cultures are not sufficient to intercultural business context because international business embraced various cultures across borders. However, such scholars as Hofstede, Hampden-Turner and Trompenaars, Hall have studied in a single-national culture. Furthermore, sophisticated stereotypes do not describe potential cultural changes in intercultural encounters. These scholars had conducted researches for at least 19 years ago. Corporate cultures might change over time as a consequence of changes in perception and modern societies. In this case, national generalizations are useless to fit to intercultural encounters. Thus, managers merely gain insight into multi-cultural management by their experience and new approaches. In conclusion, because of above risks, sophisticated stereotypes merely are useful at the starting point for managers to guess cultural behaviors. Moving beyond sophisticated stereotypes, they need to make incremental changes by using their own knowledge to manage cultural issues.

The efficient market hypothesis and behavioral finance

The efficient market hypothesis and behavioral finance The efficient market hypothesis is directly related to the behaviour of prices in asset markets. Initially the term efficient market applied only to the stock market, but later it was generalised to other asset markets. The efficient market hypothesis is seen as the turning point of the modern finance (Fama, 1965) and in his classic paper, Fama (1970) defined efficient market as one in which security always fully reflect the available information [p.383]. Market efficiency is known as the speed and accuracy where the current market prices reflect the investor expectations. When the market is efficient, all the available information is fully and automatically reflected in the price, gaining profit by using this information is seen impossible. Efficient market hypothesis predicts that market price should incorporate all available information at any point in time. According to Pesaran, Hashem M (2010) The efficient market hypothesis (EMH) evolved in the 1960s from the random walk theory of asset prices advanced by Samuelson (1965). Samuelson showed that in an informationally efficient market hypothesis, price changes must be unforecastable. Kendall (1953), Cowles (1960), Osborne (1959), Osborne (1962), and many others had already provided statistical evidence on the random nature of equity price changes. Samuel-sons contribution was, however, instrumental in providing academic respectability for the hypothesis, despite the fact that the random walk model had been around for many years; having been originally discovered by Louis Bachelier, a French statistician, back in 1900. One important implication is that security prices will change only when there is arrival of new information that was not considered during the formation of current market prices. Yet the information will be evaluate and process this information efficiently and immediately incorporate into the security prices. The crucial questions here is the relevant information because it needs careful analysis and the conclusion about market efficiency could be there or extracted from the information set. A standard classification for different compositions or information set was outlined by Fama (1970) as weak form, semi-strong form and strong form. On the other hand, new empirical studies of security prices have reversed some of the earlier findings related to EMH. The traditional finance school named these observation anomalies due to the unexplainable in the neoclassical framework. Due to the increasing numbers of puzzles, the new approach of behavioural finance emerged. This approach focus on the investors behaviour in making decision in investment. This approach assumes that agents may be unreasonable during interpreting new information and thus lead to making wrong judgement in investment. This paper will discuss the definition and concept of efficient market hypothesis and behavior finance in general. I will be look into market issues for countries of Malaysia, USA, Africa and Jordan. I would then like to highlight the issues on this area for future research. Efficient Market Hypothesis Definition and Concept The Efficient Market Hypothesis (EMH) is an investment theory that stated it is impossible to compete with the market when stock market efficiency causes existing share prices to always incorporate and reflect all relevant information. According to the EMH, stocks are always trade at their fair value on stock exchanges. Investors will face difficulties or even impossible in either purchase undervalued stocks or sell stocks for inflated prices. The possible way for investors to obtain higher returns is by purchasing riskier investment and they have to outperform the overall market through expert stock selection or market timing. Forms of Efficient Market Hypothesis There are three forms of Efficient Market Hypothesis where the key to all the three forms remain that is intense competition among investors to gain profit from any new information. There are three versions of EMH, namely the Weak From EMH, Semi Strong EMH and Strong EMH. The weak form EMH is based on past history of prices where the past information is used to analyze for profit return. This method is called technical analysis. The value retrieved from technical analysis is strong and consistent. On the other hand in semi strong form, the current stock price has fully taken into consideration all publicly information that is available. However, the information in the semi strong form is available to all the investors; one is expected not to gain much profit with such information. But this form is stronger than the weak form. Whereas strong form of EMH is taking the current price fully incorporates all existing inside information, both public and private. When the information set us limited to past price and return, the market is said to be weak-from efficient and there is correlation between current return on security and the return over a previous period. However the return is purely unpredictable from the past information. In semi strong Efficient Market Hypothesis, all publicly available information is reflected in the stock market. Investment Managers claim that mutual fund managers are skilled in analyzing publicly available information but empirical evidence do not support. Market Efficiency and security prices reflect all available information whereas new information is expected to be converted into price changes. Efficient Capital Market participants will react immediately and in an unbiased manner. Important of Efficient Market Hypothesis There are common misconceptions of Efficient Market Hypothesis (EMH). EMH claims that investors cannot outperform the market but there are analysts who have succeed in outperformed. So EMH is seen to be incorrect. EMH claims that one should not be expected to outperform the market predictably or consistently. EMH said that financial analysis is pointless and investors are wasting time if doing research in security price. But everyone knows that financial analyst is still needed in the market. Again EMH is found to be incorrect. EMH sees new information as always fully reflected in market places and yet prices fluctuated every day, every hour and minutes. EMH must be incorrect. EMH presumes that all investors are technically expert but in reality it is otherwise. EMH is incorrect again. Criticism towards Efficient Market Hypothesis There are several opinions against the EMH. First is the over reaction and under reaction of investors. EMH claims that the investor react quickly and in an unbiased manner to new information but it was contradicted to De Bont and Thaler. EMH claims that investors react very fast and in an unbiased manner when they received information but De Bond and Thaler said otherwise. They said that stock with long term past return tend to have a higher future returns and vice versa and empirical observation shows that stock prices respond to earning about a year after the announcement. Secondly, the value versus growth where value strategy is able to outperform the market consistently. Finally is the small firm effects where average return on small stocks were too large to be justified by the CAPM while the average returns on large stocks were too low. There are also implications of Market Efficient for Investors where the EM, investors have little to gain from active management strategies; should follow passive investment strategy and no attempts to beat the market but to optimize returns through diversification and asset allocation. Behavioral Finance Definition and Concept The behavioural finance is an area in finance that highlighted on the investors behaviour and how they make their decision in understanding the pricing of assets and also explain the decisions of investors as rational actors. The rational actors are seeking for their self-interest, given the sometimes inefficient nature of the market. EMH revolves around the preferences and behaviour. Psychologist and also experiment economics found out that there is a departure from the normal paradigm of the investors in making their investments. Behaviour finance emerged since 1980 where it incorporates more behaviour science into finance decision making. Due to the excess volatility, dividend puzzle, equity premium and future returns in the capital market is seen as consistent in an efficient market but the truth is inconsistency do happen. According to behaviour finance good year performance may not lead to another good year but it could be otherwise. Issues in Behavioral Finance Behavioral finance has emerged due to the problems faced in the traditional theory in explaining why some financial phenomena happened. It is said that agents may be irrational in with their own reactions to new information and investment decisions. To undo mispricing created by the irrational investors may be difficult. Due to that, market is seen to inefficient. Psychological sees these in many views. People make mistakes when they perceive information and form their belief. Extensive evidence shows that individuals are overconfident in their judgement (Odean (1998), Barber ODean (2001)). When investors are overconfident, they tend to invest more and intensively. Due to greed, overconfident and also overreact to new information, investors would tend to make heavy losses. What make it difficult it when investors stick to their own conclusion interpreting the information. Once people have formed an opinion, they often stick to it and inadequately update their beliefs in the lieu of new information (Edwards (1968)). Human emotions and moods are also said to influence investors behavior. When investors are in the good mood they are willing to take higher risks compared to when they are in bad mood. In fact market returns are found to be higher on days of good weather than on days with heavy clouds and rain. Social influence and interaction with other investors are also coherent to th e behavior. Investors tend to follow others in making their investment, they tend to follow each other like in a herd. Herding leads more on the situation when an investor focuses more on other investors participation rather than evaluating the information of the particular security. Behavior finance changes the way how we look at capital markets. It is a new approach that has direct impact not only to investors but also others such as corporate finance, market regulators and policy makers. In behavior finance, the investors should not consistently expect to beat the market even at times when they succeed in getting abnormal returns from their investment. According to behavior finance, market is not always efficient. Good return may due to the available information. However, it is advised to actually spend some of the return and study the cause of mispricing that have cause the market to fluctuates. It is said that achieving higher returns is not only due to good analysis strategies but a better self control. Primary contribution of behavior finance is its potential help in beating the market. Summary of Researches This section will discuss the research finding from Malaysia ( KP Lim., Liew KS., and Wong HT, 2003), Africa (C Mlambo and N Biekpe, 2007) United States America (Jae H. Kim 2009) and Jordan (Mahdi M. Hadi, 2006) The first research which was done by Lim et. al, 2003 was the weak form EMH that generally holds in KLSE Malaysia and the existence of the linear and the non-linear dependencies. These dependencies appear at very random intervals for a short of time but then disappear again even before investors have the chance to exploit it. As we know efficient market hypothesis is a fair game where the prices changes in the security is reflected by any new information which was not taken into consideration earlier during the forming of current market price. The paper by Lim et al, 2003 focused on the weak form EMH where the historical price is the only determinant of the security prices. The price movement in a weak form occur randomly and successive price changes are independent of one another, i.e. random walk theory. Past price analysis has no meaning since the patterns observed in the past occurred purely by chance. The weak form Efficient Market Hypothesis has been studied since many years in KLSE. Malaysian stock market is inefficient in the weak form when weekly data were used but efficiency exist when monthly data were used. Test done by Von Nehmanns suggested that information that is based on historical prices is fully reflected in current price within a week but may not be fully impounded in current price within a day which conclude that Second Board of KLSE is weak form efficient with respect to weekly data. But when weekly data were used the efficiency of the Malaysian stock market has improved from a weak form inefficient market in mid 1980s to weak form efficient by late 80s and early 90s. Empirical evidence from various statistical test found out that the low trading volumes in most stocks and the possible price manipulations by those investors who own majority of the stocks might help to explain the findings of the runs test. The reason for departure from random walk is due to the presence of non-linear dependencies in the underlying data generating process which is now widely accepted as a salient feature of financial returns in general and stock returns series in particular. Non linearity has strong implication on the weak form EMH for it implies the potential of predictability in financial returns. Lim et. al (2003b.d) and Lim and Tan (2003) provided convincing evidence that non-linearity has a high effect in the underlying dynamics of the Malaysian stock market. Ko and Lee (1991:224) If the Random Walk Theory hypothesis holds, the weak form of efficient market but not vice versa. Thus evidence supporting the random walk model is the evidence of market efficiency. But violation of the random walk model need not be evidence of market inefficiency in the weak form. Kok and Lee (1994) and Kok and Goh (1995) argued that though daily price series are found to be serially correlated, the magnitude of their c orrelations is not large enough for any mechanical trading rules to be devised for profitable investment timing. In connection to the existence of linear/non-linear dependency structures to the concept of information arrival and market reactions to that information will prove to enlightening. It is said that if the market is efficient and the new information is useful then it shall be reflected quickly and unbiasedly into market prices. There is a rationalization the correlation between the weak-form EMH and behavioural finance in KLSE. The statistical properties of random walk, linear and non-linear dependencies are interpreted in the context of information arrival and how the market react to that information. The second research was done by C Mlambo and N Biekpe, 2007 with regard the weak form in the African Stock Market. Johannesburg Stock Exchange is found to be weak form efficient but using weekly data it is not weak form efficient. Studies that have used data on individual stocks used either monthly or weekly data rather than daily data due to non availability of computerised databases. Another argument for using data measured over longer time intervals in the problem of thin trading. Increasing the time interval is argued to reduce the potential biases associated with thin-trading by increasing the probability of having at least one trade in the interval. (Dickinson and Muragu, 1994). This paper studies the weak form efficiency of ten African stock markets using the serial correlation and runs tests African stock market emerged in the late 1980s and early 1990s and the latest in 2003. African stock exchanges are also the smallest in the world in terms of both number of listed stocks and market capitalisation. The majority of stock markets in Africa trade daily from Monday to Friday. The portfolio inflows to Africa have been disappointing due to unfavourable scenario is that acquisition of shares by foreigners is limited on some African stock markets. The Market Regulator was established on the back of poor regulatory and legislative frameworks. African stock markets are also known to be illiquid and characterised by thin trading (Mlambo and Biekpe, 2005) in comparison to stock markets in other regions. The delay market is perceived by African governments to be an indication of integration into the global economy. It is considered to be a sign of international legitimacy and a measure of a countrys modernisation and commitment to private sector-led development (Moss, 2004). The d ata used in this study are daily closing stock prices and volume traded for individual stocks. The markets in this study exhibit serious thin-trading for the periods under investigation. Positive serial correlation is usually considered to be a predictability phenomenon of the short run, while negative serial correlation is mostly a long run predictability phenomenon. The positive serial correlation on African Stock markets might also be a result of institutions imitating spreading their trades over several days to lessen the impact of trades in large volumes on the market (Asal, 2000). The weak market form efficiency if the NSX can probably be explained by the markets positive correlation with the JSE due to the significant number of stocks that are dual-listed on both markets. The efficiency of the NSX can thus be said to be spill over from, or a reflection of, the weak-form efficiency of the JSE. The weak form efficiency of the NSX was attributed to its correlation with the JSE. Kenya and Zimbabwe were also concluded as generally weak form efficient, since a significant number of stocks conformed to the random walk. The stock prices on the Mauritius market tend to deviate from the random walk hypothesis. The same conclusion was made for Ghana. The run test used here only tests for the existence of a linear relationship which makes it inadequate as a testing method on African stock markets where the return generating processes are assumed to be nonlinear. The use of linear models would thus lead to wrong inferences being drawn. Thus further research is required to test the random walk hypothesis. The third research that I would like to discuss is the market hypothesis in the United States America. Kim et al., (2009), study return predictability of the daily and weekly Dow-Jones Industrial Average indices from 1900 to 2009. The degree of return predictability is estimated using two autocorrelation test (variance ratio and portmanteau) statistics, implementing moving sub-sample windows of different lengths. They found strong evidence that changing of market condition has lead to return predictability. In particular, during market crashes (1929 and 1987), it was observed that return in unpredictable and when it is predictable it is very much associate with high level of doubt. When there is economic crisis, the return from the stock is very predictable even with moderate degree of uncertainty. Whereas during economic bubbles, return predictability and its uncertainty have been smaller than normal times. Our results are in strong support of the adaptive markets hypothesis, which claim that changing market conditions drive the key market features such as the return predictability. They examine the degree of return predictability of the U.S. stock market using the century-long Dow-Jones industrial index. As measures of return predictability, they used their findings and complements with the recent study by Neely et al. (2009) who report the evidence in favour of the adaptive markets hypothesis for the foreign exchange market in the context of profitability of technical trading rules. The statistics from the automatic variance ratio and automatic portmanteau tests. To detect possible non-linear dependence in stock return, the generalized spectral test has been implemented. They obtain monthly time-varying measures of return predictability by applying these tests to moving sub-sample windows over monthly grids. A regression analysis is conducted to determine how these measures of return predictability are related to changing market conditions and economic fundamentals. They also find evidence for cyclical evolution of return predictability, in which changing market conditions are important factors for the degree of return predictability. It is found that, during market crashes, no return predictability is evident but its uncertainty has been exceptionally high. However, during economic and political crises, a high degree of return predictability is observed, but only with moderate degree of uncertainty. During bubble times, the return predictability and its uncertainty are found to be lower than normal times. Contrary to the general findings of past empirical and survey studies, we have found evidence the U.S. market has become more efficient after 1980. This is convincing given that the U.S. market has implemented a various measures of market innovations in the 1960s and 19070s, and that US macroeconomic fundamentals have become much more stable since 1980. In addition, there have been fewer occurrences of economic and political crises after 1980 than before. Our finding is a manifestation of the adaptive markets hypothesis, which argues that dynamic market conditions govern the degree of stock market efficiency. Finally this paper will discuss on efficient market hypothesis in Jordan capital market. This paper by M. Hadi (2006) noted that the objective of accounting numbers is to provide the financial data about the performance of certain enterprise in order to help the managers, investors, shareholders and government authorities in making their decisions. On the other hand, the purpose of accounting research is to estimate the value of accounting data to all investors and other users. Furthermore, the purpose of capital market research is to examine the association between accounting numbers and security return and to test whether or not accounting data carry any information content to security market, and if so it should be impounded in the security price, the results show the security market reacted with mixed signal on releasing profitability, liquidly, and solvency information. This paper identified EMH and provided some detail on the types of EMH, as well as identifying the empirical research that tested weak, semi-strong and strong forms of market efficiency. Accounting market based research more often assumes that market is efficient in semi-strong form, and the reason for this is that financial reports are considered public information once they are released to the market. In this paper empirical evidence has been provided from Jordanian market, and it shows the security market reacted with mixed signal on releasing profitability, liquidly, and solvency information. The selection of the relevant pricing model is very critical in market-based research. Brown and Warner (1980) investigate how different methods performed when some abnormal performance was present. They conclude that There is no evidence that more complicated methodology conveys any benefit. (Brown and Warner, 1980). Also, they argue that using more complicated models will make the researc her worse off. Furthermore, the use of the market model or even simple models such as mean adjusted return is better than more complicated models like control portfolio. 5.0 Conclusion The relationship between finance and other social sciences that has become known as behavioural finance has led to a strong and deepen of our knowledge of financial market. In judging the impact of behavioural finance to date, there is still no exact one method that can make an investors gain high profit. For instance in situation where efficient markets theory may lead to drastically incorrect interpretations of events such as major stock market bubbles. . Indeed, we have to divert our presumption that financial markets always work well and that price changes always reflect genuine information. Evidence from behavioral finance helps us to understand, for example, that the recent worldwide stock market boom, and then crash after 2000, had its origins in human foibles and arbitrary feedback relations and must have generated a real and substantial misallocation of resources. The challenge for economists is to make this reality a better part of their models. It is found that in Malaysia, there is co existence of weak form EMH and behavioural finance. Unlike in Africa, there are mix of two findings where conforms to the random walk theory and also deviate from the theory. Whereas in United States, it is claim that return predictability and market efficiency and investors behaviour are considered as highly context dependent and dynamic by changing market conditions. Whereas in Jordanian market shows the security market reacted with mixed signal on releasing profitability, liquidly, and solvency information. Further research is suggested in Malaysia to incorporate the issue of model adequacy where the characteristic was found in the returns series and can be used to construct a better economic model. Whereas in Africa it is suggested to test on the existence of linear relationship in the stock markets where the return generating processes are assumed to be linear. In Kuwait, a few research has been investigated in market efficiency in strong form, it is suggested that for future research test for insider information should be investigated.

Israeli-Palestinian Conflict :: Essays Papers

Israeli-Palestinian Conflict The history of the Israeli-Palestinian conflict goes back many decades, to when the UN formed Israel in 1948. The conflict is between the Israelis who are Jewish, and the Palestinians who are Arabs, with both sides fighting over land rights in the Middle East. The surrounding countries of Egypt, Jordan, Syria, and Lebanon, support the Palestinians, in their fight to get their homeland back. The Palestinian supporting countries immediately attacked Israel, and a big conflict in the Middle East began. The Israelis believe they have sole rights to govern, and live in their country, although the Palestinians think they should be able to live on their homeland, which they have inhabited for many centuries. Background on the Conflict The formation of Israel has been the fundamental cause of the major wars, between the Arabs and the Jewish people for decades. These wars occurred in 1948, 1956, 1967, 1973, and 1982. The first war immediately followed Israel’s formation. In this war, the Israelis took the entire Egypt-Palestine frontier, except for the Gaza Strip. In 1956, Israel took the Suez Canal, from Egypt by raiding Arab bases, which increased their buffer zone. The buffer zone is an area that Israel controlled but did not own. This made the Palestinian’s effort to attack more difficult, because they had to cross over more land. Then in 1967 Israel shot down six Egyptian military planes, causing the Egyptians to activate their troops. Israel then eliminated the Egyptian Air Force and won what came to be known as the â€Å"Six Day War.† In this war Israel seized the city of Jerusalem; this city is of significance to both sides of the conflict, because it’s historically connecte d with their religious beliefs. They also obtained the Gaza Strip, the West Bank, and Golan Heights, which increased their land holdings. In 1973, the â€Å"Yom Kippur War† occurred. This war was caused by Egypt crossing the Suez Canal, and Syria, another Arab country attacking from the Golan Heights. Israel suffered heavy casualties, but still managed to drive them back, and retained possession of previously captured territory. In 1974, Egypt signed a cease-fire, and Syria started negotiation of peace agreements. When Egypt signed the peace treaty, and recognized that Israel has a right to exist, Israel gave back the Sinai Peninsula in 1979. Increased tensions between the two groups caused Israel to bomb Lebanon, because there are two major Palestinian Liberation Organization (PLO) centers situated there.

Private Schools vs. Public Schools Essay -- Public Education vs Private

Plato said, "You must train the children to their studies in a playful manner, and without any air of constraint, with the further object of discerning more readily the natural bent of their respective characters" (Plato). Education has increased as a topic of conversation among parents in America today. The importance of a good education has increased in value, and parents are searching for the best possible school for their child in preparation for college. Many believe the most opportune way for their child to succeed in studies is by attending a private school. On the other hand, another group of parents thinks that public schools are the better route. Nevertheless, public schools have been proven to be more successful in the education of a maturing child. Students who attend public schools are faced with many different challenges that differ in comparison to a private school student. Whereas, many private schools are small in population, public schools usually have a larger number of students resulting in a great diversity of pupils. Students from every race, culture, and religious background come together in one school system. This diversity allows students to develop ways of associating with many different people that would not typically be found in a private school. Learning how to deal with others, no matter what their race, culture, or religion, is a vital asset to learning how to work with others in the future. Private school teachers have been shown to be less qualified teachers that many public school teachers. Some of the most interesting contrasts explain private schools have fewer minority teachers and principals, public school teachers appear to be more education than private school teachers, a... ... agrees with Mrs. Dyckman explaining, "I don't think that just because you pay money for something makes it better. There isn't a better place for my daughter to be going to school than here" (Wilkenfeld par. 13). In fact, on average, private schools aren't any better than public schools, or so says a new book on the subject, All Else Equal: Are Public And Private Schools Different. In conclusion, several points could be drawn on the issue of public schools versus private schools. Nevertheless, statistics, reports, and articles are continually explaining that private schools are mostly equal or less qualified than public schools. Parents should be educated in this matter. If more parents knew about the comparison of public schools to private schools, more families would be able to offer their children a better education and future for a cheaper price.

Lincoln Hospital Case Study Essay

Introduction This case describes a crisis situation that unfolds at the Lincoln Hospital, a 400-bed for-profit facility. At the root of the crisis is a dysfunctional relationship between the newly elected chief of surgery, Don, and the Operating Room (OR) director of 13-years, Mary. As a result of their discord, multiple exacerbated issues are occurring throughout the hospital. These issues are impacting the ability of the hospital to successfully perform the planned surgeries without incurring significant issues. The hospital has lost forty percent of the experienced OR nursing staff during the previous eight months, lessor experienced OR nurses are inefficiently replacing the more experienced nurses, physicians are threatening to conduct their surgeries in different hospitals, physicians are arriving late for scheduled surgeries, the staff is divided, and the necessary equipment is either not available or not the correct size resulting in delays and impacts to performing the surgeries. The president of the hospital is facing a daunting dilemma in trying to figure out how to bring this discord to closure and remedy the perturbating effects of this hostile relationship. He believes the discord is responsible for  the other systematic issues seen throughout the hospital. He considers firing Mary but quickly realizes she is an invaluable asset that he cannot afford to let go. At the same time, he realizes he needs to be accommodating to the surgeons or they will take their patients to another hospital. The competitive market adds complexity to the situation since the hospital is facing escalating costs, changes in regulations, and strict accreditation standards. The president realizes the surgeons are loyal to the new chief of surgery and that he cannot afford to alienate or oppose the newly elected chief of surgery for fear of losing the surgeons to his competition. The president conducts his own initial investigation by speaking with both nurses and doctors. He tells Mary and Don that they must resolve their conflict by meeting with each other until they resolve their issues; the meetings would begin immediately. To ensure Mary and Don follow through with his mandate, the president selects an impartial observer, the new executive vice president and chief operating office, Terry, to mediate the meetings. Both Mary and Don also ask their respective vice presidents to sit in on the meetings to ensure fairness in the process. Neither Mary nor Don wants to participate in these meetings and as such, the results of the meeting are less than fruitful. The initial meeting results in a hostile free-for-all. The president of Lincoln Hospital ultimately contracts with an Organizational Development (OD) consultant to remedy the situation. The OD consultant meets with Mary and Don separately to obtain answers to the following three questions: 1) What does he or she do well? 2) What do I think I do that bugs him or her? 3) What does he or she do that bugs me? Mary and Don were able to see the positive characteristics about the other person through the process of answering the questions. Neither Mary nor Don had openly attributed their respect and admiration for the skills of the other person. Prior to participating in this exercise, their answers revealed the existence of ongoing and escalating frustrations concerning their inability to effectuate good interpersonal skills. As Mary and Don continue to participate in these meetings, they become better equipped to address their confrontational issues. They are better positioned and able  to follow through with identifying specific problems, altering their reactions and their behaviors to effectuate co-existence in a productive way. Contracting and Diagnosis Stages The case did not elaborate much on the contracting stage between the president and the OD consultant. The case stated the president was in communication with the OD consultant. The president described a high level overview of the problem and subsequently hired the OD consultant with the expectation that the consultant would champion resolution of the dysfunction between Mary and Don. The OD consultant did not have the opportunity to talk with either Mary or Don prior to establishing a contract with the president. There was no agreement regarding the time to resolve the issues, or the acceptable solutions versus unacceptable solutions, other than the solution must include ongoing employment for both Mary and Don. The output of the contracting process is make a good decision about how to carry out the effort, define the resources needed to accomplish the tasks and document the assumptions, risks, and constraints. The contract ensures all parties are in agreement regarding the necessary commitments, support, and resources. Suggestions for establishing an effective contract would include carefully approaching the contracting process by laying out a model of how the OD process should flow. The contracting process should include all parties, which would be inclusive of Mary and Don. This ensures they all have an input into establishing expectations for the process in terms of the desired outcomes, establish ground rules that all parties could abide by, and agree upon the time and resources that would be devoted to completing the goals within the given constraints. In addition, the OD consultant should state what his expectations are regarding the process. All parties involved need to be clear about their commitment of time and resources to the effort. In addition, Mary, Don, and the OD consultant should agree upon how they will work together. Some conversations may require confidential conversations or information. This type of information should be part of the contract. The diagnosing process began largely from the description given to the OD consultant by the president and not as a collaborative effort among all affected stakeholders. As stated earlier,  Mary and Don, as well as other affected members of the organization, were not engaged in the early meetings. The OD consultant may have a skewed view of the problem since he did not diagnose the problem but rather received the information second hand. His ability to identify the issues to focus on, how to collect data to measure the progress of a proposed implementation, and how to obtain agreement upon the process for assigning action steps is largely from the president’s view. Suggestions for implementing a better diagnosing process would include engaging all affected parties, in a collaborative fashion, to understand all the issues, analyze them, and draw conclusions for action planning and intervention. They should be involved in actively developing appropriate interventions and implementations. An assessment, of the current state of the organization, will identify ways to enhance the organization’s existing functioning. A diagnostic model will point out what areas to examine and what questions to ask in assessing how they are operating. The diagnostic model should include inputs, design components, and outputs. Third-Party or Other Types of Intervention The third-party intervention is an appropriate intervention. It successfully generated positive results and reduced the friction between the two parties. However an element of tension still exists between Mary and Don. The consultant was able to get Mary and Don see past their differences and work together to resolve the issues in a productive way. This allows Mary and Don to see a side of each other they did not know existed, which allows the tensions to subside between the two. This also allows the organization to benefit since Mary and Don appear to be the catalyst for subsequent symptoms appearing throughout the organization. Since much of the information, for diagnosing the situation, came from Mary, Don, and the other people affected by the discord, the diagnosis stage is utilizing accurate data to implement resolutions to the problems. This data is the basis of the intervention and as such it allows Mary and Don to make commitments regarding resolution of their issues. Mary and Don also have a new tool they can use in future meetings and interactions. Other possible interventions may include utilization of process consultations and  team building events. Process consultations focus on the interpersonal relations and the social dynamics between groups. The team building intervention assists groups in working to evaluate their processes as well as establishing solutions to resolve problems. Third-Party Effectivity and Next Steps The third-party intervention is an effective intervention even though not all of the problems were completely resolved; perturbating effects still exist and fuel the discord between Mary and Don. Other issues are still present that need to be resolved throughout the organization. This intervention allows both parties, Mary and Don, to take ownership for the issues that resulted and changes the way they relate and interact with each other. It allows Mary and Don the ability to collaborate in the solutions and accept mutual responsibility for their part in the situation. In addition, they are now able to focus on solutions versus their problems. Although there continues to be some conflict between Mary and Don, they are trying to work through their issues in a productive way. Process consultation should occur to ensure they are still making the needed progress. This method would allow flexibility regarding time commitments for all involved. In addition, repetitive practice in exercising these newly learned behaviors will result in institutionalized behaviors. References Cummings, T. & Worley, C., (2009). Organization development & change. In (Eds.), Mason, OH: South-Western Cengage Learning.

The Witches Influence on Macbeth

The Witches Influence on Macbeth Allison Schweinert Malling Hour 2 1/15/12 Throughout Macbeth, Shakespeare’s witches, or the â€Å"three weird sisters† (1. 3. 32) serve several purposes. With their persuasive techniques and ability to either see or influence the future, their most important role seems to be their power to influence decision-making and cause the initial deterioration of Macbeth. By providing five prophecies, the witches â€Å"provide Macbeth’s ‘call to action’ and drive his thirst for power†, (Jamieson). However, by not telling Macbeth the full truth, they give him false hope, and expectations that ultimately lead to his demise. The witches influence him so greatly, that without their presence, it is possible that Macbeth would never have even committed the murder of King Duncan. The three weird sisters make their first appearance in Act 1 Scene 1. In Act 1 Scene 3, the witches make their first predictions. The first is that Macbeth will be King of Cawdor and Thane of Glamis. The second is that Banquo’s sons will also be kings. Macbeth’s is forced to question the prophecies and says to the witches, â€Å"By Sinel’s death I know I am thane of Glamis. But how of Cawdor? The thane of Cawdor lives, A prosperous gentleman, and to be king, stands not within the prospect of belief,† (1. 3. 71-74). Due to his inevitable inheritance of the title Thane of Glamis, Macbeth is convinced that the witches are, in fact, of a supernatural nature. Despite his lingering doubts, these predictions were enough to convince Macbeth and Lady Macbeth to pursue their ambitions and kill Duncan. This shows the witches first influence in that, even though Macbeth questions their credibility, he allows them to have substantial control in his future. Secondly, it is thought by many, that to know what fate may have in store for them, and to have knowledge of the future is wrong. It seems this is true, because after Macbeth demands the witches second appearance, he is told to beware of Macduff, and that he cannot be harmed by anyone born of a woman or defeated until the â€Å"Great Birnam Wood to high Dunsinane shall come,† (4. 1. 93-94). After receiving these final prophecies, it seems that Macbeth’s morale begins to deteriorate along with his confidence. Based on his paranoia and extreme reliance on the witch’s initial prediction he sends out men to murder Banquo and his son. He also attempts to kill Macduff, and when that fails he tells the murderers to kill his family despite their innocence. In this, he reaches a point of true evil. However, throughout all this, Macbeth continues to have his doubts. He considers his invincibility and constantly reminds himself and others that, he â€Å"bares a charmed life, which must not yield To one of woman born,† (5. . 12-13). I believe he does this because he needs to convince himself that the witches are, in fact, unequivocal. However, he fails to consider that perhaps the witches just aren’t telling him the full truth. This becomes evident in Macbeth’s final scenes as the Birnam Woods make their way towards him, in Malcolm’s attemp t to hide his numbers. Macbeth also realizes that he should have had higher speculations moments before his death, when Macduff tells him â€Å"Despair thy charm, And let the angel whom thou still hast served Tell thee, Macduff was from his mother’s womb Untimely ripped†, (5. . 13-16). At this point, Macbeth was forced to come to terms with his undoing and realize that the witches weren’t as reliable as he’d hoped. But how much of the blame do the witches truly deserve? We now must ask ourselves, â€Å"Are the witches prophecies preordained? Or do they simply encourage Macbeth to become active in constructing his own fate? † (Jamieson). My answer to both of these is yes. The second that the witches told Macbeth that he would be king, his future became exactly as they’d foretold. Once he obtained knowledge of his divine will and allowed the witches prophecies to overtake him, Macbeth began to slowly deteriorate. It wasn’t until Macbeth heard the witches prophecies, that thoughts of killing Duncan came to him, and even when the did, he was reluctant. The initial thought of committing such a crime was, â€Å"but fantastical† (1. 3. 139), despite Macbeth’s ruthless nature in combat. Even further, prior to the murder during his discussion with Lady Macbeth, he attempted to withdraw himself from the conspiracy. He tells Lady Macbeth, â€Å"that we but teach Bloody instructions, which, being taught, return to plague th’ inventor: this even handed justice Commends th’ ingredients of our poisoned chalice To our own lips,† (1. 7. 8-12). Macbeth says this as if he knows, to trust the prophecies, is to seal his fate. Unfortunately, it is too late for Lady Macbeth. She has already had a taste for power in her control over Macbeth; now she is addicted to it and has already traded her morals to the devil. Lady Macbeth’s early decisions are what, I believe, led to her extreme loss of sanity. Macbeth doesn’t entirely come to terms with his ambitions until later. He evokes full trust within the prophecies near the end of the play, while he boasts of his invincibility. Their dependence and reliance on the prophecies is what ultimately led to their demise. Without the prophecies, there would have been nothing to rely on and simply their desires to push them. Because of this, the witches’ influence on Macbeth is clear. They did far more than just provide him with a glimpse of his future; they released his innermost desires and set his path by doing so. They opened doors and guided him on a journey that once he had embarked on, could never return. References Crowther, John, ed. â€Å"No Fear Macbeth. † SparkNotes. com. SparkNotes LLC. 2005. Web. 16 Jan. 2012 Jamieson, Lee â€Å"‘Macbeth' Witches. † About. com Shakespeare. N. p. , October 2005. Web. 10 Jan 2012. . Riedel, Jennifer. â€Å"The Witches' Influence on Macbeth . † Diss. University of Victoria, 1995. Web. . Shakespeare, William. Macbeth. Elements of Literature: Sixth Course. Ed. Kathleen Daniel, et al. Austin: Holt, Reinhart and Winston, 2003. 300-385.

Global Marketing Management Essay Example | Topics and Well Written Essays - 2000 words

Global Marketing Management - Essay Example into the Japanese market, they first employed situational analysis measures, which established that Japanese people accepted Coca Cola products and felt flamboyant when wearing jeans manufactured by the Jeans Wear company (Dibb and Lyndon 35). This paper will seek to write a report evaluating the entry of Pizza Haven Company into the Japanese market and analyze the marketing environment of Japan by examining the PEST analysis, Porter’s Five Forces, and SWOT analysis. Politically, Japan is today experiencing a state of political stability and to some level; one can say that the country is actually â€Å"abstaining from political violence†. Japan has a Monarchy form of governance. A monarchy is a form of governance where the monarch leads the country within the confines of the existing un-codified, blended, or written constitution (Sandhusen 40). In all cases, investors from overseas countries consider the aspect of political stability very much before opening their businesses. Since the Pizza Haven Company is willing to invest in Japan, it can choose to locate its premises in certain parts of the country where political stability is highest. In Japan, some provinces where political turmoil tends to hit first result to mass destruction (Buckley 33). By use of questionnaires, researchers established that, this country is indeed politically stable as there have been no cases of coup or high risks incurred due to political instability (Chapman 101) A new businessperson seeking to invest in an overseas country should consider investing in Japan. This is so because, this country has political freedom, officials uphold the rule of law well, and there are just a few bureaucracy cases. The country’s constitution guarantees investors general respect and offers a systemic platform for upholding the willpower of law making it ideal for Pizza Haven Company to invest in Japan (Gillespie and Hubert 58). This entails that, it is not easy to lose investments through either

Interpersonal Communication Essay Example | Topics and Well Written Essays - 2000 words

Interpersonal Communication - Essay Example ding such premium of communication is closely equal to life itself, since communication is a powerful tool that shapes an individuals life both in the short term and over the long haul (Devito, 1996). As it is apparent n everyday life, people who are exemplary at communicating are likely to end up in better positions in the community; and even in enterprises. They are more likely to receive recognition and accolade from society. This emphasizes the importance of communication. This paper reviews communication and its context. Within it, the value and significance of communication will further be reinforced. Communication is a way of conveying one’s thought to another person. However, its definition has been subjected to change since time immemorial. It definition has perennially been a point of contention among experts in the field of communication and language. Currently, there are various forms of communication; however, experts have labeled two general types. These are non-verbal and verbal types of communication. Obviously, under verbal communication, an individual uses language as the main tool (Stanton, 1982). Needless to say, language alone would not suffice when an individual comes across people who use a language different from his own. That is why there are many who study other languages aside from their native tongue, given the complexity and competitiveness of today’s world. This is a leverage that could not be easily replicated. Non-verbal communication, on the other hand, refers to signals which are mostly used in communicating with people with disabilities (i.e. blind, deaf and other similar kinds of deformities). The development of non-verbal communication is of importance since it has made people with disabilities productive and participative despite their physical inadequacies. Moreover, non-verbal communication is not exclusively used by people with physical deformities. There are instances in which is non-verbal communication is utilized

Non-current assets Essay Example | Topics and Well Written Essays - 1250 words - 1

Non-current assets - Essay Example The effective date on the basis of IASB was the fiscal periods on or after the financial year ending on 2004. Differences in accounting treatment The accounting standard of IAS 16 refers to the tangible noncurrent assets as property, plant and equipment and identifies that they hold a physical substance which can be used for delivery of goods or services or for purposes of administration. The physical substances are expected to be in use for more than a single accounting period. There are some problems accrued to the definition (Friedrich and Friedrich, 2009). Freehold as well as leasehold land, plants and machinery and buildings are included in the PPE. The aim of the accounting standard is to lay down the treatment for accounting relating to recognition of assets, the willpower of the carrying amounts and the charges of depreciation as well as the loses that relates to them. The accounting standard should be followed in the accounting process for PPE as using another PPE requires t he use of different treatment. A business should have the capability to recognize the associated risks and rewards correlated with the asset (Kelly, n.d. p. 1-3). The business controls the asset. The rewards are the custodies. The cost of risk and repairs are treated as costs. Any loss emerging from the assets are treated as costs as well. Under the accounting standard it is expected that the future anticipated economic benefit will find the way to the owner and the associated costs can be measured reliably. IAS 16 accounts for two models namely the cost model and the revaluation model for measuring PPE. In the first model, an item under PPE is carried at the cost which is less than the accumulated depreciation as well as less than any accumulated impairment losses. In the second model, the item in PPE is carried at fair value less than accumulated depreciation and impairment losses. The standard is in line with the definition of the asset set in IASB. It is possible to have a relia ble cost of PPE by the transaction cost of the market in cases where the asset has been acquired. The incidental acquisition cost includes the attributed cost of carrying the asset to the site (The Institute of Chartered Accountants of Pakistan, n.d.). The import duties, the cost of preparation of the sites and the fess of professionals are included in the incidental cost of acquisition. The inclusion ceases once the asset is made ready to use. The asset may not be brought into use but it should to ready to use. The costs that are excluded from the standard are cost of generating a new facility, overhead costs of the administration and the cost associated with introducing the new produced product. An obligation often arises to dismantle the product after the life cycle and the obligation is recorded s the liability at the time the asset is recognized. In the cases where the assets are self constructed the costs of the materials that were acquired, the costs related to labour and the other associated costs must be recognized. IAS 38 provides the definition of asset recognition and specifies the ways the carrying amounts should be measured in the following periods as well as guides on the disclosures. The accounting standard can be applied to all intangible assets except the assets that are within the scope of another standard. It is inapplicable to the intangible assets held by someone