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American Perception V.S Kite Runner Perception Free Essays

Perreault 1 Emerald Perreault Mrs. Wagner English IIII 20, December, 2011 American Perception V. S Kite Runner Perception of Afghanistan The U. We will compose a custom article test on American Perception V.S Kite Runner Perception or on the other hand any comparative theme just for you Request Now S went through the most shocking, groundbreaking, mind clashing occasion ever. On September, 11, 2001 fear monger flew two plans into the Twin Towers in New York City. The psychological oppressor assault on 9/11 crushed and destroyed a tremendous measure of American lives. Climate an American lost a companion, cherished one, or relative, each American lost something important that day. Americans lost their entitlement to have a sense of security: at work, at home, or at mainstream areas. The last time American security was undermined was during World War II. U. S residents are not use to war or savagery occurring in their nation, in contrast to the Middle East. Americans don't responded decidedly, when disastrous circumstance occur. Their response to 9/11 changed the American impression of Afghanistan and Muslim culture. Americans lost all their trust for Muslims. That absence of trust between them made a totally different generalization. Generalization: A general explanation or word, fit to depict a particular gathering of individuals. The American generalization made to depict Muslims is any individual who is Muslim or from the Middle East was sent to America, to annihilate their rich non directed, nation. National Geographic Channel says,† Afghans who fled their country for another life in the United States are disturbed to end up subject to doubt and question based on their nationality and religion. † Based off of this data, Muslims are for the most part being placed into one heap, characteristically. Afghanistan man who passes by the name of Fouzia Afshari says,† We are acceptable individuals, we are civilized† who volunteers at Mustafa Center, an Afghan Perreault 2 Culture Academy close to Washington D. C â€Å"We are not that sort of Afghan individuals are contemplating at the present time. † Fouzia Afshari is a Muslim, clearly he isn't a psychological militant or out to get America, the discussion is the aggressors were not American. By not being American, the psychological oppressors permitted Americans to lose trust in an entire nation of individuals. Muslim individuals should manage the vulnerability of consistently recovering American trust or the American impression of Afghanistan ought not be dependent on what a handle loaded with Muslims did,but dependent on established truths. Khaled Hosseini book The Kite Runner depicts Afghanistan practically V. S the American Perception. (National Geographic news site) Clearly, the American Perception of Afghanistan is somewhat unrealistic. The recognition did not depend on Afghanistan or Muslim culture, yet dependent on what a handfull of Muslims did (AKA 9/11). The fear based oppressor assault damaged Americans, giving them a cliché recognition. Commonly, when an individual considers war, quickly individuals consider others being shot left and right, bombs detonating all over. Americans imagine that the psychological oppressor assault was the Middle East announcing war on them. Starting there on, Americans accepted that the Afghans that were not battling U. S troops off, were all sitting at a table conceptualizing how their going to assault America next. A few Americans were crushed to the point that they won't go anyplace close to Muslims or anybody from the Middle East as a result of their cliché recognition. Muslims own about 75% of the service station and agreement stores in the United States. Americans that won't partner with Muslims will go more remote of their way for gas. Americans imagine that Muslims don't care for Americans due to the U. S troops in the Middle East and when an American goes to a Muslim service station, their accepting less gas. Indeed, even in a precarious economy Americans despite everything go out Perreault 3 of there path for gas, permitting Muslims to see that Americans genuinely see them all as psychological oppressor. For Afghans and Muslims it is mistaking for them to comprehend why the America discernment is so ludicrous. The observation isn't just founded on 9/11, it is likewise has to do with Americans not being given the full image of the war in Afghanistan. The media shyly befuddles Americans. Josh Meyer expressed in his article Gap between the U. S observation and reality in Iraq, Afghanistan, creator places † While Americans are given one media report after another about how Afghanistan is loaded up with detonating bombs, assaulting crowds of the Taliban and a wilderness that overruns each edge of the war torn country, the genuine story is a more nuanced one. † Americans are given overstated reports on what’s occurring in Afghanistan. The media is 100% to fault for the slanted form of the Afghanistan war Americans have. In view of that adaptation of the war Americans make bogus incitation, which harms the Afghanistan and Muslim populace. (Josh Meyer) The American impression of Afghanistan upsets Muslims and makes it harder for their kin to come to America. Muslims who are leaving Afghanistan are on America’s side. They are escaping their own country and coming to begin new in America since they don't concur with how their nation is being destroyed. Afghans come to America for the opportunity that is taken from them in Afghanistan. Naweed an Afghan lady reveals to National Geographic station â€Å"No craftsmanship, no radio, no TV, painting, drawing-nothing is permitted. Instruction for ladies isn't permitted. Music isn't permitted, they call it sinister. That’s why we are unequivocally attempting to keep our way of life alive here in America. † Naweed is one of numerous who needs to feel comfortable. For Muslims America is their new country, but since of the American recognition most of Perreault 4 afghans feel strange. â€Å" I’m bringing up my children here and I don’t need to feel like I don’t have a place here. Be that as it may, that’s what I feel here as an Afghan and a Muslim. † said Alina to the National Geographic Channel, including: â€Å" I don’t need to lose another home. Afghans don’t need to come to America they fairly live in their own nation where feel comfortable, however they must choose between limited options. However trust remains that Afghanistan will one day be in the hands of harmony adoring Afghans and everybody will see reality. (National Geographic Channel) Afg hanistan was at one time a nation where Afghans could be fruitful and well off. At that point the Soviet Union attacked Afghanistan and the Taliban was made, however got ugly and the U. S armed force went to help the individuals in Afghanistan. At the point when the Soviet Union was crushed the Civil War despite everything proceeded. The Taliban was made to go in and bring together the nation. The Taliban comes structure the word understudy that’s what it implies. The Taliban is comprised of understudies that went to strict schools in Pakistan and previous contenders, who use to battle in the war against the Soviet Union. The Taliban is the thing that made Afghanistan a porches spot to live. After the Taliban carried harmony to 80% of the nation, they became power craving and begun to remove Afghanistan’s opportunity. Indeed, even with the Taliban directing Afghanistan, Josh Meyer, creator of Gap between the U. S discernment and reality in Iraq, Afghanistan, creator places says, â€Å" Anyone in this room could go to Kabul now and have a genuinely decent time. There are eateries and there are bars,† and the lanes are not a shooting exhibition with different groups attempting to execute one another, while equipped radicals are additionally attempting to U. S and alliance powers. â€Å" The Taliban Is not an exceptionally enormous radical gathering. † Josh Meyer is attempting to illuminate Americans that Afghanistan isn't Iraq, yet it is as yet not a spot where all Afghans can get by. (Josh Meyer) Perreault 5 The Kite sprinter is the ideal case of how Afghanistan isn't Iraq, yet not a spot where all afghans can get by. Creator Khaled Hosseini recounts to a tale about Amir and Hassan these two Afghan young men who grew up together, however where isolated by Amirs will to make his more remote glad and the Soviet Union attacking. Amir double-crossed Hassan by watching him being assaulted by Asseft on the grounds that Hassan was a Haraza. Blame ate at Amir until he surrounded Hassan for preparing and Hassan and his dad left in humiliation. Not long after Amir and BaBa ( Amirs more remote) took an excursion to America. Where Baba needed to run a gas satiation and sell things he purchased at a yard deal at the neighborhood escape advertise. Before Baba and Amir came to America they were rich. So well off that Hassan and his dad were Baba hirelings. Afghanistan isn't as neediness severe end as Americans suspected it might have been. Amir and Baba didn't come to America to crush it, he came to America since Kabul was undependable and he trusted Amir could gets the most ideal instruction in America. Baba and Amir were in America for a long time. For those two years Baba would by a container of organic product structure similar individuals ordinarily with money. One day Baba had no cash, he worked a look at. When the man requested Id Baba detonated, â€Å"He needs to see my permit? Very nearly two years we’ve purchased his dam foods grown from the ground cash in his pocket and child of a canine needs to see my permit. † Amir says, â€Å" They’re assume to request Id† Baba says,† Dose he think I’m a criminal? What sort of a nation is this? Nobody confides in anyone. † Baba believed that the man working idea he was preparing when the man approached Baba for Id. Baba was annoyed. A long time not far off Amir is informed that Hassan kicked the bucket in Kabul. Hassan was shot in the rear of the head on the grounds that a Talian part thought him and his family where living in Amirs old house rather than in the cabin outside made explicitly for workers. Amir felt dependable supposing that he Perreault 6 and Baba would of stayed Hassan may at present be alive. For Hassan he is an Afghan who ought to fled from Afghanistan. Amir and Baba could of remained in Afghan

Characteristics and Effects of Uninvolved Parenting

Characteristics and Effects of Uninvolved Parenting Theories Developmental Psychology Print Uninvolved Parenting Characteristics, Effects, and Causes By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Reviewed by Reviewed by Amy Morin, LCSW on June 20, 2019 facebook twitter instagram Amy Morin, LCSW, is a psychotherapist, author of the bestselling book 13 Things Mentally Strong People Dont Do, and a highly sought-after speaker. Learn about our Wellness Board Amy Morin, LCSW Updated on July 17, 2019 Jamie Grill / Tetra images / Getty Images More in Theories Developmental Psychology Behavioral Psychology Cognitive Psychology Personality Psychology Social Psychology Biological Psychology Psychosocial Psychology Uninvolved parenting, sometimes referred to as neglectful parenting, is a style characterized by a lack of responsiveness to a childs needs. Uninvolved parents make few to no demands of their children and they are often indifferent, dismissive, or even completely neglectful. The Major Parenting Styles During the 1960s, psychologist Diana Baumrind described three different parenting styles based on her research  with preschool-age children: authoritarian, authoritative, and permissive parenting. In later years, researchers added a fourth style known as uninvolved parenting. So what does the uninvolved parenting style look like at a glance? These parents have little emotional involvement with their kids. While they provide for basic needs like food and shelter, they are, for the most part, uninvolved in their childrens lives. The exact degree of involvement may vary considerably. Some uninvolved parents may be relatively hands-off with their kids, but may still have some basic limits such as curfews. Others may be downright neglectful or even reject their children outright. Kids might be given the bare minimum they need for survivial, such as shelter, nourishment, and clothing, yet little or nothing in the way of guidance or affection. Characteristics In order to better understand what uninvolved parenting consists of, it can be helpful to look at some of the key characteristics of this parenting style. Uninvolved parents tend to engage in the following patterns of behavior: Theyre emotionally distant from their childrenThey offer little or no supervisionThey show little warmth, love, and affection towards their childrenThey have few or no expectations or demands for behaviorThey dont attend school events and parent-teacher conferencesThey may intentionally avoid their childrenTheyre often too overwhelmed by their own problems to deal with their children Baumrind characterized her parenting styles in terms of two key dimensions: parental responsiveness and parental demandingness. Uninvolved parents are low on both of these dimensions. They do not respond well to the needs of their children and provide little affection, support, or love. They also make very few demands of their children. They rarely set rules and do not offer guidance or expectations for behavior. Effects on Kids So what sort of impact does being raised by uninvolved parents have on kids? Children raised by uninvolved parents tend to experience a number of different effects. Some outcomes linked to uninvolved parenting include: Children must learn to provide for themselvesKids may fear becoming dependent on other peopleKids are often emotionally withdrawnThey tend to exhibit more delinquency during adolescenceThey feel fear, anxiety, or stress due to the lack of family supportThey have an increased risk of substance abuse Consequences Researchers associate parenting styles with a range of child outcomes in areas such as social skills and academic performance. The children of uninvolved parents generally perform poorly in nearly every area of life. These children tend to display deficits in cognition, attachment, emotional skills, and social skills. Due to the lack of emotional responsiveness and love from their caretakers, children raised by uninvolved parents may have difficulty forming attachments later in life. The complete lack of boundaries in the home makes it difficult to learn appropriate behaviors and limits in school and other social situations, which is why children with uninvolved parents are more likely to misbehave. Causes Parents who exhibit an uninvolved parenting style were often themselves raised by uninvolved and dismissive parents. As adults, they may find themselves repeating the same patterns they were raised with. Other parents who display this style may simply be so caught up in their busy lives that they find it easier to take a hands-off approach to dealing with their children. In some cases, parents may be so wrapped up in their own problems (i.e., being overworked, coping with depression, struggling with substance abuse) that they actually fail to see how uninvolved they are with their children or are simply unable to provide the emotional support their children need. A Word From Verywell It is clear from looking at the consequences of this type of child-rearing that the uninvolved parenting style is far from ideal. In order to raise confident children who are emotionally healthy and resilient, children need support, warmth, love, appropriate discipline, structure, and guidance from adults that they trust.

Study On The Market Response To Stock Splits Finance Essay - Free Essay Example

Sample details Pages: 12 Words: 3732 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Essay any type Did you like this example? The market response to stock splits is investigated with the dataset from an emerging country à ¢Ã¢â€š ¬Ã¢â‚¬Å" India for period 2006 March 2009. study reports significantly positive abnormal returns on day of split execution and next trading day. regression analysis suggests that the reaction can be attributed to liquidity hypothesis. The postsplit period experiences abnormally high negative which wipes out any positive gain during split execution. This seems mostly explained by presplit price increase and size of firms suggesting that the have experienced a in period are ones suffer worst returns. In theory, stocksplits are cosmetic corporate events as they simply increase the number of outstanding shares and decrease the price of each outstanding share. Hence, there should be no significant effect on the value of the firm. A stock split does not change the revenue or assets of a company. So, stocksplit should cause no change in price other than the adjustment warra nted by the split factor. There should also be no change in distribution of stock returns around exdates of stock splits. Exdate refers to the date on or after which a security is traded without a previously declared dividend or distribution. However, empirical evidence suggests that the market generally reacts favorably to stock splits. In different developed markets, for instance, UK and US, significant positive abnormal returns and increase in variance and volumes of trade have been documented around stock split announcements as well as exdates. The contradiction between theory, which expects no change in firm value consequent to stock splits, and the reality, with scores of evidence of significant market reaction, triggers the present study. In February 1981, the Indian ministry of finance issued a guideline that denomination of equity shares be fixed uniformly at Rs.10, and that the denomination of the then existing shares other than Rs.10 be converted into denomination of R s.10. In another guideline in January 1983, the Indian government clarified that denomination of shares of Rs.100 need not be changed to denomination of Rs.10, i.e. shares of all companies were required to be in denominations of Rs.10 or Rs.100 only. Even so, several companies converted the denomination of shares of Rs.100 into that of Rs.10 on the grounds that it generated better liquidity, as also a higher value for the shares. However, in March 1999, the Securities and Exchange Board of India (SEBI) decided, with the objective of broadening the investors base, to dispense away with the requirement of standard denomination of Rs.100 or Rs.10 and gave freedom to companies to issue shares of any denomination but not below Re.1. Companies that had issued shares of the face value of Rs.10 or Rs.100 were also permitted to avail of this facility by consolidation or by splitting their existing shares. To reap benefits of splitting, a number of existing listed companies having denomina tion of Rs.100 or Rs.10 have split their stocks into different denominations, e.g., Re.1, Rs.2 or Rs.5, etc. These recent changes in the Indias regulatory environment offer a unique opportunity to gain further insight into the stock splits with reference to their effects on variables like stock prices, return, volatility, and trading volume. With the increased integration of international markets in general and a wave of liberalization and globalization, the importance of understanding these stock events has increased dramatically. Further, there are different capital gains tax laws in India. Under these circumstances, splits may have different effects contrary to what has been reported in various literatures. Furthermore, compared to the worlds major stock exchanges, there are proportionally more small firms listed on Indian exchanges; consequently, many firms are thinly traded. Hence, these differences between Global and Indian markets necessitate studying split events in India. The results of the present study shows significantly positive cumulative abnormal returns on and the next trading day after split execution, following which there is a major decline in share prices which wipes out most of the gain of the execution period. The signaling hypothesis and the trading range hypothesis do not seem to provide any explanation for the significant CAR around execution date, while the liquidity hypothesis seems to contribute significantly towards the positive CAR occurring on and immediately after the execution. The small firm hypothesis also 6 shows weak explanatory power for the change in wealth. The post execution negative reaction is mostly explained by run up of stock prices preceding the execution, implying that the stock split has induced a revision of stocks fundamentals, probably bringing prices to a more fundamental level. 7 2. . Literature review There have been numerous researches on the effect of stock splits on different pa rameters of capital markets. Fama etal (1969) has been the pioneering study to examine the share price performance of splitting firms. Although the economic literature has not yet found a definitive explanation for either the abnormal returns observed around the announcement and execution dates, or the reasons why managers decide to split, different explanations, not necessarily mutually exclusive have been proposed. The more prominent hypotheses are the signaling hypothesis, the trading range hypothesis, the liquidity hypothesis and the neglected firm hypothesis. One such research paper advocates considering the three different market efficiencies (weak form, semistrong form, and strong form) that the investor can make an above normal return by relying on public information impounded in a stock split announcement. This study agrees that according to the semistrong form market efficiency, the stock split announcement do impact the company stock price. The study done by Desai, Jain ( 1997) elaborates more on longrun performance of common stock following stock splits announcement and hence concludes that the capital market doesnt fully react to the information conveyed in the stock split announcement. Considering the ignored studies of small firms, the paper examined firm portfolio of different sizes and more diversity in terms of industries. Taking a large sample of stock information for a period of 1976 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 91, the research paper concluded that the market does not incorporate the full effect of the stock split announcement in the month of announcement. It is evident that managers believe that stock split results in optimal trading price of a stock that attract small investors and hence enhances liquidity. Joshipura (2008) studied the price and liquidity effects associated with stock split surrounding its announcement and execution 8 dates in Indian stock exchanges. The results suggested that though there were some positive abnormal return associated surrounding announcement and execution dates of the stock split, but it reverses in just a few days after the event dates, and ultimately generates significant negative abnormal return in slightly longer postexecution window. It also found that there was a significant improvement seen in liquidity surrounding announcement and execution dates of stock split. Desai and Nimalendran (1998) examined the effect of the change in trading activity after stock splits on volatility and spread. The results of the study show that the increase in volatility cannot be attributed solely to microstructure biases arising from the bidask bounce and price discreteness. Even after correcting for these two biases, the study found a significant increase in volatility after the split. The study also found an increase in the number of trades after the split, and the increase in the biasadjusted volatility was positively related to this increase in the number of trades. The study decomposed volat ility into transient and permanent components and found that both components of volatility increase after the split. Attributing transient volatility to noise traders and permanent volatility to informed traders, the study suggested that trading by both types of traders increases after the split. Ikenberry, etal (1996) discusses that splits are used to move stock prices into a trading range to increase liquidity and that they are used by management as a signal of positive private information. The study found evidence that is consistent with the view that splits are typically used to realign stock prices to a normal trading range. The study also confirmed that splits convey favorable information, thereby validating the signaling hypothesis. It was found that market reaction was greater for small firms, low booktomarket firms and firms splitting to low share prices. The study also found an inverse relationship between the presplit run up and postsplit excess returns, suggesting that t he results were not attributable to momentum. 9 There are various studies devoted to studying the effect of stock splits in specific geographies. Asquith, etal (1989) examined stock splits in the US market and found that stock splits do convey earnings information. The results indicated that firms split their shares after a significant increase in earnings. Before the stock split announcement, the market expects these earnings increases to be temporary. The split announcement leads investors to increase their expectations that the past earnings increases are permanent. The study also found that the markets reaction to the split announcement cannot be attributed to expectations of either future earnings increases or nearterm cash dividend increases. Elfakhani, etal (2003) examined the market behavior surrounding stock split announcements in the Canadian market for the 1977à ¢Ã¢â€š ¬Ã¢â‚¬Å"1993 period and the effect of the 2year before compared to the 2year after the announce ment. Using the event study methodology, the findings indicated that positive abnormal returns exist on both the announcement days (0,1) and the 11day period surrounding stock split announcements. The results also showed that following the split event, bidask spreads decrease, while both trading volume and the number of transactions increase thus suggesting that split events enhance liquidity. Further, the study observed that earnings grow in the 2year period following split events, thus implying that split events signal future performance of the firm. Wulff (2002) investigated market reaction to stock splits using a set of German firms and in line with the US findings, found significant positive abnormal returns around both the announcement and the execution day of German stock splits. The study also observed an increase in return variance and in liquidity after the exday. The study found that abnormal returns around the announcement day are not related to changes in liquidity, but (negatively) to firm size, thus lending support to the neglected firm hypothesis. Despite noting a substantial increase in liquidity after the split, the study did not find support for the liquidity 10 hypothesis. Menendez, etal (2003) analyzed the motivations and valuation effects of stock splits in the Spanish market. The findings of the study suggest that splitting firms present a presplit stock price above the normal trading range, and that, after the split, the number of transactions and the average transaction size increase significantly. Moreover, positive abnormal returns are observed around the announcement dates and around the exdate. For the latter, however, these positive wealth effects are outweighed by the negative abnormal returns observed closely afterwards. The study found that liquidity, or the optimal trading range hypotheses prevailed over other hypotheses as an explanation for stock splits in the Spanish market. The findings of the study suggest the mai n reason behind a stock split and for the positive market reaction around the stock split announcements is a higher share price than the normal trading range. The reduction of this higher price seems to attract small investors and thus significant increases in the number of transactions and reductions in the trading volume per transaction after the split are observed, without there being any significant variation in the volume of shares traded. This adjustment of the firms stock price to a normal trading range is valued positively by investors. Most of these studies are concentrated mainly around market reaction at the announcement date. In a study on the UK equity market, specifically concentrating on the exsplit date, Staikouras etal, (2009) has documented positive abnormal returns on and around the exsplit date which are partially predictable using the publicly available information prior to the exsplit date. The study also observed a persistent increase in the post split volatil ity of the stocks in the UK equity market with this increase being better explained by the daily trading volume. This is in contrast to the US findings where the daily number of trades was found to better capture the increase in volatility. 11 In this study, the market response to stock splits is investigated with the dataset from an emerging country à ¢Ã¢â€š ¬Ã¢â‚¬Å" India, which is distanced from the west in terms of geographical location, economic development, institutional and legal framework. Not much is available in the Indian context with a focus on the exsplit date, so far, except for the commendable work by Mishra (2007), which documents negative effect on price and return of stocks following splits. The study also reports a positive effect on volatility and trading volume following the split events. The present paper tries to provide a few additional insights on the issue and therefore, differs from Mishras (2007) study in the following ways. Firstly, an attempt i s made to explain the significant cumulative abnormal returns around the split execution dates with the help of regression analysis. Secondly, the independent variables cover issues like small firm hypothesis, price run up, deviation of price from market average, which are unexplored in his paper. Thirdly, the data set of the present study covers the period post Mishras study, i.e., from 2006 to March 2009. HHHHyyyyppppooootttthhhheeeesssseeees s ffffoooorrrrmmmmuuuullllaaaattttiiiioooon n TTTThhhhe e ssssiiiiggggnnnnaaaalllliiiinnnng g hhhhyyyyppppooootttthhhheeeessssiiiis s The signaling hypothesis proposes that, in a scenario of asymmetric information between managers and investors, managers may use stock splits to signal positive information to the market about the firms future expectations. The presence of positive abnormal returns around the stock split announcement that is found in many empirical studies provides evidence for the signaling hypothesis. 12 Trading range hypothesis According to the optimal trading range hypothesis, stock splits are used as tools to realign the share price to a desired price range so that it is more affordable for small investors to buy round lots of shares. If the presplit share price is at a high level, then a stock split is justified for improving the marketability of the shares. Empirical findings suggesting an increase in the daily number of transactions after the split do not reject this optimal range hypothesis. TTTThhhhe e lllliiiiqqqquuuuiiiiddddiiiitttty y hhhhyyyyppppooootttthhhheeeessssiiiis s The managements motivation to bring the share price to an optimal trading range arises from the desire to improve liquidity. According to literature there is an observed increase in trading volume during the postsplit period, and hence provide support for the liquidity hypothesis of stock splits. Staikouras etal, (2009) in their study of the UK equity market document a strong and positive relationship b etween the measures of trading activity and the returns volatility over the preand postsplit horizons. SSSSmmmmaaaalllll l ffffiiiirrrrm m hhhhyyyyppppooootttthhhheeeessssiiiis s Small firm or neglected firm hypothesis suggests that since the smaller firms have fewer announcements published in the financial press, the split announcement is expected to create greater market interest than it would be in case of larger firms. So, small firms may have an incentive to adopt the stock splits to grab more attention. Based on the discussion above, we can lay down the objectives of this study. The study proposes to, using data from the Indian stock market, examine the presence of positive abnormal returns over the stock split 13 period and, if found to be true, to study whether the returns can be explained using any of the hypotheses mentioned above. We formulate the following hypotheses: HHHH1111: There is no significant abnormal return around the exsplit date. HHH H2222: If H1 rejected, returns are identical for all firms in sample. HHHH3333: and H2 the abnormal observed around event window [1,+1] can be attributed to publicly available information based on one or more of theoretical hypotheses above. HHHH4444: If H3 is true, a similar explanation can be made using this data for different time horizons around the exdate. An event study framework is employed to test the above hypotheses. An OLS regression model is used for determining the factors for the occurrence of abnormal returns across the event window. 14 3333. . DDDDaaaatttta a aaaannnnd d MMMMeeeetttthhhhooooddddoooollllooooggggy y 3333.1 DDDDaaaatttta a CCCCoooolllllllleeeeccccttttiiiioooon n The basic sample is comprised of all Bombay Stock Exchange (BSE) equity stocks that have split between January 2006 and March 2009. The National Stock Exchange website was used to download list of stocks that have undergone a stock split in this period. There were a total of 151 stock splits during the period. All financial data series for these stocks like daily closing adjusted prices, market capitalization, trading volume and market indices were downloaded from Thomson DataStream. The following criteria have been applied to include a company in the sample. i) The stock price data is available for 260 days prior to the exsplit date. ii) Data for 260 days are available for the postsplit period. iii) Where a stock has split more than once in the sample period, the first exsplit date was considered. iv) Other required financial information is available. After filtering on the basis of the above criteria, the number of firms on which the analysis could be carried out was 99. 3333.2 DDDDaaaatttta a AAAAnnnnaaaallllyyyyssssiiiis s Table 1A Table 1B below show summary statistics of the sample stocks used for this study. There is an even distribution of stock splits in each year of the sample period indicating normal stock split activity in the Indian equity market 15 for the given period. However, analysis on a monthly basis reveals that August, September and October are the most active months for stock splits, possibly indicating a preference by firms to execute the split around that time. More than 40 percent of the firms in the sample have the stock split in this period. 5:1 split is the most common split ratio (57 firms) in the sample followed by 10:1 and 2:1 split ratios. For the 4:1, 6:1 and 5:2 split ratios, there is only one stock in the sample period. Therefore, summary statistics for these stocks were not calculated as any observations made would be a result of a very firm specific performance and not a general conclusion. The average price for the 2:1, 5:1 and 10:1 split sizes are Rs. 229.99, Rs. 192.30 and Rs. 215.27 respectively. No conclusive relation between the stock price and the split ratio can be inferred from the maximum and minimum values shown below. The average marketcap for the 2:1, 5:1 and 10:1 split sizes are Rs. 13068.56 million, Rs. 57129.56 million and Rs. 87126 million respectively. The average market capitalization is observed to increase with higher split ratio possibly indicating that the largecap stocks are the ones that usually opt for the higher split ratio. 16 TTTTaaaabbbblllle e 1111AAAA: : SSSSttttoooocccck k SSSSpppplllliiiit t ssssaaaammmmpppplllle e ddddiiiissssttttrrrriiiibbbbuuuuttttiiiioooon n TTTTaaaabbbblllle e 1111BBBB: : SSSSttttoooocccck k SSSSpppplllliiiit t ssssuuuummmmmmmmaaaarrrry y ssssttttaaaattttiiiissssttttiiiiccccs s 17 3333.3 MMMMeeeetttthhhhooooddddoooollllooooggggy y EEEEvvvveeeennnnt t bbbbaaaasssseeeed d ssssttttuuuuddddy y Event studies start with hypothesis about how a particular event affects the value of a firm. The hypothesis that the value of the company has changed will be translated in the stock showing an abnormal return. Coupled with the notion that the information is readily impo unded into prices, the concept of abnormal returns (or performance) is the central key of event study methods. How does a particular event affect the value of a company? We must be careful because at any time we observe a mixture of market wide factors and a bunch of other firm events. To correctly measure the impact of a particular event we need to control for those unrelated factors. The selection of the benchmark to use or the model to measure normal returns is therefore central to conduct an event study. The empirical model can be stated as follows: when an event occurs, market participants revise their beliefs causing a shift in the firms return generating process. For a given security, in non event periods, Rt = xt B + et while in event periods, Rt = xtB + FG + et Rt is the return of the security in period t, xt is a vector of independent variables (for example the return of the market portfolio) in period t, B is a vector of parameters, such as the security beta, F i s a row vector of firm characteristics influencing the impact of the event on the return process. G is a vector of parameters measuring the influence of F on the impact of 18 the event and et is a mean zero disturbance term possibly differing in event and non event periods. Hypotheses usually centre on the parameters that measure the influence of the event (G) and most of the times F is set to unity. The null hypothesis is that such an event has no impact on the return generating process. Event study methods are the econometric techniques used to estimate and draw inferences about the impact of an event in a particular period or over several periods. The most common approach involves three steps: (1) Compute the parameters in the estimation period; (2) Compute the forecast errors (and obtain variance/covariance information) for a period or over an event window; aggregate across firms and infer about the average effect; (3) Regress crosssectional abnormal returns on releva nt features of the stock supposed to influence the impact of the event. In this study, the event is the split execution date, defined as day 0. The event splits the sample into two sets à ¢Ã¢â€š ¬Ã¢â‚¬Å" the presplit period and the postsplit period. The presplit period considered in this study is a period of 260 days prior to the event date (260 days to 1 day) and the postsplit period is the period of 260 days after the event date (+1 day to +260 days). This leads to a total period of 521 trading days data for each stock (including the split date) centered around the event date for that stock. In essence, all stocks are aligned according to their event timeline. The estimation window is the 220 day period from 260 to 41 trading days. A similar event based alignment of data was performed for the other financial data namely market capitalization, market index and trading volume. In this study, the benchmark index chosen for running the regression for the market model is the BSE 10 0 index. The index price was also aligned according to the split date for each stock to obtain comparable market 19 return at and around the event date. The Brown and Warner (1985) methodology is applied to test for the significance of abnormal returns. Regressions to estimate the parameters of the market model The standard single index asset pricing model is used to estimate the market parameters ( ÃŽÂ ² and c). The market model used to estimate the parameters is given as below: Ri = ÃŽÂ ²Rm + c where Ri à ¢Ã¢â€š ¬Ã¢â‚¬Å" expected return of stock i Rm à ¢Ã¢â€š ¬Ã¢â‚¬Å" market return c constant of regression Don’t waste time! Our writers will create an original "Study On The Market Response To Stock Splits Finance Essay" essay for you Create order

Biological Influence Of Male Homosexuality - 882 Words

(1) LeVay, S. and Hamer, D., 1994. Evidence for a Biological Influence in Male Homosexuality. Scientific American, [e-journal] Available through: Research Gate website [Accessed 17 March 2016]. The research article suggests a structure within the human brain and a genetic link indicate the biological factor for male homosexuality. The journal investigates an experiment about the role of male genetics in sexual orientation by analysing the hypothalamus in autopsy specimens from homosexual and heterosexual men. Increased possibilities of same-sex orientation were discovered in the maternal male cousins and uncles of the participants, instead of their father or parental relatives. Also, the researchers discovered a brain cell group ‘INAH’ had a potentiality of being the sex-orientated DNA, indicating that the reason of homosexuality may be related to genetics. The research is conducted by by Simon LeVay and Dean H. Hame. LeVay earned a doctorate in neuroanatomy at the University of Gottingen in Germany. He then went to Harvard University to work on the brain’s visual system, and later the Salk Institute for Biological Studies to head the vision laboratory. In 1992 he found the Institute of Gay and Lesbian Education. Hamer received his Ph.D. in biological chemistry from Harvard in 1977. He studies the role of genes both in sexual orientation and in complex medical conditions. Both researchers were renowned in the biology area attests to the validity of this source.Show MoreRelatedHomosexuality : Nature And Nature871 Words   |  4 PagesHomosexuality: Nature or nurture By: Clifnie francois Advance Placement Psychology Mr. Cuetara June 4 2015 Abstract The nature and nature of homosexuality is heavily debated. Some people believe that homosexuality is biologically determined and others believe it’s base on ones environment. This topic can be argue to be base on both nature and nurture. Studies conducted in the past decades support both the biological and environmentalRead MoreHomosexuality And Its Effects On Society Essay1650 Words   |  7 PagesMany people believe and have debated whether or not homosexuality is a choice that one freely makes, while others believe a combination of genetics, hormones and environment have a factor in one’s sexuality and sexual development. Homosexuality is something one cannot choose to be. Primarily, homosexuality can be defined as a romantic or sexual attraction that involves people of the same gender. Male homosexuals are referred to as gays while the female ones are called lesbians. Ideally, since timeRead MorePsychology And Science Of A Heterosexual And Homosexual Man Through The Course Of Nature Vs. Nurture1168 Words   |  5 PagesHamers, Sanders, Hansen. The perception of whether homosexuality conforms to the course of nature vs. nurture can influence the amount of scrutiny judged upon affected individuals. So, the purpose of this extended essay is to answer the research question of to what extent is there a biological basis with neurological structurally, genetically, hormonally, and prenatally behind male homosexuality and how an individual’s perception of this fact influences their behavior towards homosexuals. FurthermoreRead MoreHomosexuality Is Not A Choice For Adults963 Words   |  4 PagesBiological Based Homosexuality Over the past few decades, there has been controversy over the topic of homosexuality. Many people believe that there are homosexuals make the choice to be homosexual. On the contrary, several studies show that there are genetic factors that lead individuals toward a homosexual preference. The rights of people who are homosexual are becoming more progressive and are almost equivalent to those who are heterosexual in the United States. Homosexuality is a biologicalRead MoreEssay about Causes of Homosexuality - Nature AND Nuture564 Words   |  3 Pagesunderstand why anyone would want to get involved in homosexual activity. There are many arguments about homosexuality whether is by nature or nurture. Before we make judgments on homosexuality, we need to identify the causes of homosexuality. Homosexuality is caused by genetic, biological and environmental factors. The first possible cause of homosexuality is genetic factors. Homosexuality is a trait from birth (Buchanan, 2000). Studies found that identical twins share many common traits. A studyRead MoreHuman Sexuality Paper1490 Words   |  6 Pages SXS 400 Essay If sexual orientation is something that we can’t change or choose, then how are these specific preferences such as heterosexuality and homosexuality created? How does one person progress to either heterosexuality or homosexuality? Studies showed that there were genetic factors linked to influencing sexual orientation in males before they were born by increasing the female reproductive capacity in mothers during multiple births. (Iemmole, Ciani, 2008: 393) Though that doesn’t meanRead MoreHomosexuality, Genetics or Preference? Essay800 Words   |  4 PagesLet us begin with a definition of homosexuality. Homosexuality refers to a sexual attraction and or behavior between people of the same sex. In origin the word homosexual comes from the Greek word for â€Å"same† with the Latin word for â€Å"sex†. In my opinion, homosexuality can be classified into two groups - one being sexual orientation and the other being sexual preference. Homosexuality as a sexua l orientation refers to an enduring pattern or disposition to experience sexual, affectional, or amorousRead MoreGay Men Born Gay1235 Words   |  5 PagesAngeles Monday, Sept. 09, 1991 Gay men often claim that even as children they knew they were somehow different from other boys. Many say that sense even preceded puberty. And yet, though researchers have tried for decades to identify a biological basis for homosexuality -- which seems to be present in all human societies -- they have mostly come up dry. Tantalizing clues have surfaced: gays are more likely to be left-handed, for instance. But in the end, there has been little proof that biology is sexualRead MoreDoes Homosexuality Change the Brain or the Brain Results in Homosexuality?1039 Words   |  5 Pages Homosexuality is a product of biology because according to research, the hormones of the females are stronger. Dr. Hamer states that sexual orientation, male homosexuality is genetically influenced. This is passed down through their mothers to the hormone of their offspring. Sexual identity is wired into the genes, which discounts the concept that homosexuality and transgender sexuality are a choice. Since sexual differentiation occurs within the womb, as a result of hormonal influences, it hasRead MoreIs Homosexuality Or Not?1707 Words   |  7 Pages Is homosexuality genetic? This a common question asked among society today. While some people argue that homosexuality is genetic, some people also believe that it is nature and not nurture. Genetics is the study of genes, heredity, and genetic variation in living organisms. Genetic processes work in combination with an organism s environment and experiences that influence development and behavior of the organism, often stated to as nature vs nurture. Trait inheritance of genes is still

Operative Report on Russell Jones Free Essays

OPERATIVE REPORT Jones, Russell 8004320 Kurt Brockton, MD May 17, 2013 SURGEON: Kurt Brockton, MD PREOPERATIVE DIAGNOSIS 1. Primary hyperparathyroidism. 2. We will write a custom essay sample on Operative Report on Russell Jones or any similar topic only for you Order Now History of lung cancer. POSTOPERATIVE DIAGNOSIS 1. Primary hyperparathyroidism. 2. History of lung cancer. PROCEDURE Subtotal parathyroid resection. ANESTHESIA General. PROCEDURE IN DETAIL With the patient in the supine position after adequate prepping and draping of the neck, a standard collar incision was made. Hemostasis was obtained with a cautery. The platysma muscle was elevated from the underlying strap muscles to the thyroid notch superiorly and the sternal notch inferiorly. Strap muscles were dissected free of the midline. The right thyroid lobe was exposed. The middle thyroid vein was divided between three 0 silk ties. The gland was reflected anteromedially. Upon reflection of the gland there appeared to be an enlarged parathyroid gland attached to the lateral aspect of the lower pole. The gland was reflected more anteriorly, and the right upper gland was found posterior to the middle portion of the gland. The left thyroid gland was exposed, and the middle thyroid vein was divided between three 0 silk ties. The gland was reflected anteromedially. A right lower gland was found attached to or adjacent to the lateral aspect of the lower pole corresponding to the position of the lower gland on the right side. The gland was reflected more anteromedially, and the right upper gland was found on the posterior side of the midportion of the thyroid gland but not as medial as the one on the right side. Biopsies were taken of the left upper, left lower, and right upper glands. The right lower gland was removed in toto. The path report revealed the right lower gland to be an adenoma, and the remainder of the glands appeared normal. Only a small amount of parathyroid tissue was seen in the left upper gland, but the cut surface appeared to be parathyroid and bled as it would do. Hemostasis was obtained with a cautery where necessary. Some Surgicel was placed over the cut end of the left upper gland. Strap muscles were then closed with 3-0 Vicryl, the OPERATIVE REPORT Patient Name: Jones, Russell Hospital No. : 8004320 May 17, 2013 Page 2 subcutaneous and platysma with 3-0 Vicryl, and the skin with skin staples. A dressing was applied. The patient tolerated the procedure well and was sent to the recovery room in stable condition. Kurt Brockton, MD How to cite Operative Report on Russell Jones, Essay examples

The Conveniences of Modern Technology Essay Example

The Conveniences of Modern Technology Essay It seems that since technology becomes prevailing in modern life, people can’t manage anything without it. It’s helpful in daily life, but there are many surveys starting to focus on the dark side of technology. Even when it comes to the topic of children’s creativity, technology plays a negative role as well. In my opinion, it’s reasonable to view technology in a more critical way when almost all people are overwhelmed by its fantasy. Generally speaking, technology brings convenience into people’s life. But, such convenience sometimes does impact everything involved in human life to be easier. The easiness in some aspects are welcome, but if people, especially children, are used to thinking in an easier way, a disaster may occur. In the past, children played in a relatively natural and physical world. They came across various ‘stuff’ which stimulated their curiosity even the desire of exploration. Then they analysed and concluded everything that they thought were similar. And finally they found something marvellous which enlightened their perspectives. In some of these cases, some of them even created new ideas which changed traditional concepts. However, nowadays, children avoid opportunities to approach the realistic world. It seems that everything can be solved by technology. They use smartphones to send information; GPS to look for a location; Internet to find solutions without rigorous th inking. They are accustomed to thinking easily with the help of technology. This is the first disaster. We will write a custom essay sample on The Conveniences of Modern Technology specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Conveniences of Modern Technology specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Conveniences of Modern Technology specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Secondly, technology occupies too much time of children. They play computer games to kill time and enjoy chatting on the Internet. Even though there are always campaigns to prevent children from addiction, they still spend much time in front of the computer. No time leaving computers means no time spending on thinking. If they don’t have time to think about what they have already experienced, what creative ideas can be expe

Term Papers for Sale

Term Papers for Sale Term Papers for Sale Term Papers for Sale There are two types of term papers for sale. First, there are pre-written term papers for sale. These papers can be bought by any student and nobody will give you a refund if the paper does not fit your topic. Second, there are term papers for sale written by professional writers from scratch but at lower price. offers the second type of term papers for sale. Custom term papers are original and written to meet the specifics of your topic and requirements.In addition, our writers have prepared an excellent and absolutely free blog with tips on term paper writing. Term Papers Example A good part of the explanation of the decline of fertility since 1960 can be viewed as a kind of demographic backlash to the baby boom. Those women who had their children early in marriage during the preceding decade or so achieved their family-size goals sooner than they would have otherwise and consequently contributed fewer births to the sixties than they might have. The process is not unlike an accordion which was compressed at the beginning and stretched out subsequently. In addition, their younger sisters who have been marrying during this past decade are simply having fewer births at least during their early years of marriage. Women aged 20-24 in 1969 had 40 percent fewer children than women in that age group in 1960. Perhaps these births are being postponed and will occur later. Whether later will mean fewer will have to be seen. As of 1965 there was little hard evidence that the young women of the sixties wanted and intended to have fewer children than their older sisters who married after the war and during the fifties. The average number of children expected by married women has not varied much between 1955 and 1965. But our guess is that having fewer births in the early years of childbearing will mean a total of fewer later and that today's younger married couples will end up with smaller families. It should be emphasized however that there is yet no firm basis for predicting a return to the low of 2.3 children recorded by the women now in their late fifties and early sixties. Women 25 to 29 years old in January of 1969 had an average of 1.9 children compared with an average of 2.1 children for women this age in 1965 and 2.0 in 1960. As the professional staff of the Census Bureau indicates, the decline since 1965 in the cumulative fertility of women 25 to 29 is of special interest because women of that age are far enough along in their childbearing to conclude that women currently of this age most likely will reach age 45 or the end of childbearing with fewer children than the women who were 35-39 years old in 1969. They go on to forecast a probable completed fertility of 2.8 for this cohort. There is some evidence that families smaller than this might be preferred if we can trust the extent of reported unwanted fertility. That a group of women did achieve a family size close to replacement (an average of about 2.1 children is required to insure the same population in the next generation) several decades ago when contraceptive techniques were less sophisticated than even today's unsatisfactory variety is compelling testimony to the fact that lower fertility is attainable even without a revolution in contraceptive technology. The experience of many western European countries also testifies to this capability. Term Papers Custom Writing Service Term papers for sale are much cheaper than custom paper writing service. Nevertheless, we decided to make custom term paper writing affordable.& Thus, today you can take full advantage of professional custom paper writing service at the lowest possible price! No plagiarism!

What is the Best Format for a Resume

What is the Best Format for a Resume So you have a resume. Great. Trouble is, you’re not sure exactly which format to send it in. Snail mail? Email? Singing telegram? What is the best format for a resume? We’ll concentrate on the electronic versions, which, nowadays, are usually how you get your foot in the door. It’s always important to have a nicely printed and professional paper copy for the interview or other face-to-face interactions, but an electronic copy is usually your first move. Here are the four types of electronic formats and how to choose between them.Word DocumentThis includes .doc, .docx, etc. Basically: anything made with a word processor. This is the standard format in most business contexts. The formatting should stay the same when opened on another machine with the same program. And it’s easy to send, open, print, and forward.bThere are a few things to be careful of: first, some companies might not accept email attachments due to virus prevention. And second, different ver sions of the software can cause formatting inconsistencies and can sometimes prevent a hiring manager from opening the document.PDFThe best part of sending a PDF is knowing that what you see when you send is exactly what they will see when they open your document. There are no virus risks. PDFs are compatible with both Mac and PC. And no one can alter what you’ve done. It’s an inviolable, perfectly formatted eternal thing.The only downside is if your company doesn’t have PDF reading software like Acrobat Reader (a free download) or cannot otherwise convert your file.HTMLHTML formatting is really useful if you want to put your resume on a website. Your formatting will stay the same when sent via email- your hiring manager will even be able to view it in their browser without downloading the attachment. The downsides are trickier though. Not all browsers work with HTML documents. You might have to download a separate program to convert your document into this form at. And it can sometimes be mistaken for SPAM by recruiters.Plain TextPlain text formatting is a bit dull to the eye (no bold, italic, underline, fancy fonts, etc.), but an undersung hero of the job search world. It can be copied and sent in the body of the email itself if a company won’t accept attachments of any kind. It can be included in a searchable database, if need be. And there are a wide variety of ways to add some creative visual effects if you do a bit of research. The only downside is you lose the control and visual appeal of a more richly formatted document.No matter which format you chose, always send a trial version to yourself or a pal and attempt to open it to see how it will look when opened in a different browser.

Climate Condition of Last Deglaciation Research Paper

Climate Condition of Last Deglaciation - Research Paper Example Normally this kind of explosion is caused by turbulent forces which move tremendously in the water thus lifting large objects into the surface. It comes with a lot of particles which are thrown out of water over a great magnitude. When this happens, it results to huge sweep which fatally erodes the surface leaving behind scablands. The sweeping carried large animals like mammoths; this was evident as their vertebrate bones were found in deposits. It is still unclear whether human beings were subsequently affected because up to date, no human bone has been found in the deposits (Jeffrey, 2005). If they existed in the same habitat, chances are that they were also damaged by the flood. Although this era was frequented by multiple floods, they were not huge as the explosion which caused the scablands. There were big floods enough to do significant erosion with huge heaps of deposition; this is because for this activity to be carried out there has to be some very high force or threshold b ehind the activity. It still remains unclear whether there was a single flood or multiple floods that occurred or accumulated over the last 15,000 or so years. Scientists have given evidence about the formation of the Scablands as a result of the steep slides caused by waterfalls which create large gravel deposits resulting from splashes of water. When the rivers overflowed, they piled huge land islands which can be evidently seen protruding on the landscapes of the scablands. These show that, the streamlined features must have been carved by massive water torrents from the falls (Officer, 1994). This scientific evidence builds on the Megafloods which were the initial cause for the formation of the Scablands. The waterfalls acted as the major drainage of the glacial lake which later resulted to the Megafloods. How scientific evidence is used to reconstruct the Last Deglaciation Conditions The scientific evidences have been very instrumental in reconstruction the last deglaciation because, they give predictions as to what might happen based on the past experience. Using the weather patterns, climatic conditions of the past thousands years ca n be studied and subsequently predictions

Reflection essay Case Study Example | Topics and Well Written Essays - 750 words

Reflection essay - Case Study Example In many instances, organizations are not able to cater to the social responsibilities because of the huge pressure in corporate sector by the shareholders (Mickels, 2009). By registering as a Benefit corporation, an organization can project them as a business which also has the aim of developing a better society, such as the Good Capital LLC mentioned in the case, where investment is also carried out to provide solutions to some of the challenging problems faced by the society. Therefore, the biggest advantage is that both the society as well as the organization benefits. It also provides encouragement to a generation of entrepreneur who can share benefits with the society, without having to fear about the lawsuits or lack of support from the shareholders (Reiser, 2012). However, there are certain disadvantages also; where by Benefit corporates can get sued by if it fails to take the steps for the benefit of the society as per the state laws (Reiser, 2012). If the status of Benefit corporations is given to organizations, it is mandated that they take solid steps towards the social cause they are committed to (Reiser, 2012). Additionally, it also has a high risk of abuse as powerful leaders may use it to mask their follies (Katz and Page, 2010). Hence, it is appropriate only for those businesses that are fully committed to both social causes as well as to their shareholders. The issue of abuse also leads to the question of ethics in Benefit corporations. As the potential of misusing is high, because the losses can be easily masked out as investment for fulfilling the social causes, it is necessary to have rigorous testing standards so that organizations cannot take undue advantage in the pretext of being a Benefit organization (Reiser, 2012). In addition, an organization should give equal priority to its organizational mission as well as the social cause undertaken, so that it can commit fully to

Sonic Drive-In Restaurant Essay -- Business Analysis

The fast-food industry is changing everyday. There are new products being introduced in the market and new slogans being created. The companies in the fast-food industry will do their best to make the greater burger, and to make bigger and better fries. Founded in 1953, Sonic has become the largest drive-in chain in the nation. Sonic was founded by Troy Smith, Jr. in Shawnee, Oklahoma. His dream was to own his own business. Sonic Drive-In keeps the 1950s alive through its chain of drive-in restaurants, each complete with speaker-based ordering systems and carhop servers - some on roller skates. Sonics top competitors are McDonald’s, Burger King, and Wendy’s. McDonald’s is the leading competitor in the fast-food industry. McDonald’s has the most restaurants with 12,380 locations and has over 364,000 employees. Burger King has 11,350 outlets in 57 countries and territories worldwide. About 75% is located in the United States. Wendy’s is the third largest quick-service hamburger restaurant chain in the world, with more than 6,600 restaurants in North America and international markets. In Exhibit 1, this states the Porters Five Forces Model of Competition of The Restaurant Industry. Threat of new entrants: Because the profit margins are so small, cost is low and anyone can enter into the quick-service restaurant business. Bargaining Power of Buyers: The National Restaurant Association showed that three out of ten customers agreed that food that was prepared at a restaurant or a fast-food restaurant were an important factor in their everyday lives. The survey also stated that â€Å"three out of five customers plan to eat on the premises of quick-service restaurants and seven out of ten said that plan to eat takeout or delivery. (Hitt, Ireland, & Hoskisson, pg. 367) Customers buy when they feel it is necessary giving them the upper hand on the industry. Bargaining power of suppliers: In the quick- service restaurant, the suppliers vary. They really do not rely distributors as large restaurants do. Threat of new substitutes: The restaurant industry is segmented into many parts: full service restaurants ($120 billion); quick- service restaurants ($110 billion); away-from-home managed institutions, examples: food services for schools and hospitals ($21 billion); and other food industries ($106 billion). (Marshall Jones, 1999). Rivalry among competi... ...que product differentiation but find ways to reduce cost to stay ahead. There is not a perfect solution in the industry. No one can predict the economic because it is always changing. Sonics specialty menu has allowed the chain to differentiate. Through its increased marketing efforts, Sonic will gain brand recognition and increase its customer base. Works Cited †¢ Hitt, Michael A; Hokisson, Robert E.; Ireland, RD. Strategic Management. 6th Ed., Masson, Ohio: Souht. Wester 2005. †¢ â€Å"Burger King.† Burger King Corporation. http://www.bk.com/ †¢ â€Å"Answer.Com.† Burger King Corporation. http://www.answers .com/burger%20 †¢ â€Å"McDonald’s.† McDonald’s Corporation. http://www.McDonalds.com/ †¢ â€Å"Answer.Com.†McDonald's Corporation. http://www.answers.com/topic/mcdonalds-s †¢ â€Å"Marshall Jones& Co.† Restaurants. http://marshalljones.com/new_page_30.htm †¢ â€Å"Restaurant Business.† Sonic Says Payment Stalls Boosted Gains. http://www.restaurantbiz.com/restaurantbusiness/headlines/articles_display.jsp?vnu_content_id=1000853253 †¢ â€Å"Wendy’s Restaurant.† Wendy’s International. http://www.wendy’s.com/ †¢ â€Å"Yahoo!† Yahoo. Yahoo! Finance. http://finance.yahoo.com/?u

Online vs traditional classrooms Essay

Online classes and traditional classes are both great options for obtaining a college education. They have a common goal of helping students reach their educational goals. Either path the student decides to take has its positive and negative aspects. The three biggest areas to consider when making the decision between online or traditional classes are the expenses, convenience or ease of accessibility, and the communication between students and instructors. Both online and traditional classes offer students an education, which is very important part of being successful in life. Expense is one of the biggest aspects of both online classes and traditional classes that should be considered when continuing your education. Online classes cost considerably less in tuition when a student completes a degree that is only online. However, online classes require you to have access to a computer and the internet at all times. There is no housing included, such as a room in a dormitory, so the st udent has to pay rent or mortgage and all the utilities. Books are available in a hardback or e-book, which cost about the same. Traditional classes can have an extremely high tuition, especially if it is at a university instead of a community college. In a traditional classes the student either pays to live on campus in a dormitory, or you rent off campus. If the student lives off campus, you spend money on gas, driving back and forth to campus. The car then has to have more maintenance which in turn cost more money. Depending on the students financial situation cost should be considered when choosing between online or traditional classes.Online and traditional classes are very different when it comes to convenience or the ease of accessibility. Online classes have twenty-four hour availability. A student can schedule the school work needed around their personal life, whether it’s a job, family, or personal time. This convenience can make life easier to balance, or it can make things harder. If the student procrastinates they will get behind in their school work. The work load for online classes can be more spread out, and they have the option to take test inline as long as they are submitted by the due date. The online school system can offer instant feedback on a test because the computer grades it when you submit it. Online  degrees can usually be completed in a shorter amount of time because the online classrooms can admit more students at one time. Students also have a chance to obtain a degree in a program that may not be available in a school in their area. Traditional classes offer the stability of a more structured schedule. In a traditional class you may have a larger work load because of homework due daily instead of weekly. In traditional classes attendance is mandatory which can be difficult for a student working a full time job, or having other matters they have to attend to. Accessibility is an important aspect a student should consider when choosing between the two types of classes. Whether in an online or traditional classes, communication between the student and instructor is important. Online classes require students to communicate with the instructor and other students by e-mail or in an online forum. In order to be successful the student has to have working knowledge of a comp uter and know how to search for answers. When a student has to ask a question they may not be able to get the answer quickly, which may cause them to fall behind. Having to rely on e-mails to communicate doesn’t give the student a chance to have personal contact. When a student is confused or having a hard time the personal contact with an instructor can be the best way to get help. Students also have more interaction with other students in a traditional classroom which teaches better communication skills.A college degree can be obtained by taking traditional or online classes. Some students take a combination of both to get the degree. Students have to consider their lifestyles and personalities when considering what type of classes to take. Some important things to look at when deciding what kind of classes to take are expense, convenience, and communication. Since every student is different there really isn’t an easy answer, both offers great ways to continue somebodies education.

The Coolest And Most Diverse Art On Tumblr - 935 Words

Some of the coolest and most diverse art on Tumblr belongs to female illustrators and designers. Every artist has a unique twist to her pieces, and being able to find that diverse collection is just a hash tag away. A quick tag search will do all the work for you, in my case, â€Å"female illustrators† and â€Å"female artists† was the one I used the most. If you’re looking for some interesting and impressive illustrations and graphics to spark your imagination, these are my top 24 female artists on Tumblr: A â€Å"lover of character design and art,† YemaYema provides its followers with fun futuristic-looking-Lego-like characters. I think these two robot-looking cartoons are really cool – if robots were to take over the world in the future, I think I’d be okay with it if they looked like these ones. This illustrator and graphic designer combines pastels and strong primary colors to make her art â€Å"pop† off the screen. Lola’s blog contains a mixture of abstract pieces like these, and more concrete images, which shows her diverse styles. Beautiful nature oriented sketches, and well-drawn comics are what a follower will find on this blog. Being a nature lover myself, I really enjoyed looking at all her paintings of flowers, and natural sceneries. Dramatic sketches, coupled with original poetry, make this account an intense one to follow. Whether she uses dark charcoal or brighter colors, the level of intensity of her artwork never wavers. This blog creates a mystical world for its