Essay on The Impact of the Global Financial Crisis on...

Economic growth The impact of the Global Financial Crisis on economic growth As a result of the global recession, Australia’s GDP was forecasted to contract by 0.5% in 2009-10 in comparison to other advanced economies which were expected to contract by 3.75% in the same year. However minor the reductions in GDP, it was evident that Australia was not exempt from the global recession although is better placed and is expected to perform better than almost all other OECD economies. The global recession has also triggered a fall in household wealth and a disruption in consumer confidence with consumption forecasted to contract by 0.25% in 2009-10. Economic recovery package – use of macroeconomic policies Fiscal policy Fiscal policy, a†¦show more content†¦Conversely, total expenditure for 2009-10 is forecasted to exceed revenue, increasing by 2% on estimated expenses since the February 2009 UEFO at $338.2 billion. It is illustrated that the majority of revenue the government receives is from Individuals income taxation and on the other hand, expenditure is expended most in the Social security and welfare sector. In response to the advent of the global economic downturn in 2008, the Government utilised fiscal policy to provide an urgent stimulus to economic activity as well as a sustainable medium term boost to aggregate demand. The Labour Government had carried out an expansionary macroeconomic stance with a Budget recording $57.6 billion underlying fiscal deficit in 2009-10, which was equal to 4.9% of GDP (largest percentage of GDP on record for the last 40 years) and will remain a deficit until 2015-16. Further, the Government employed deliberate Government policy decisions subsequent to the crisis, adding to a major expansionary impact on the Australian economy. Early and decisive spending initiatives have been put in place against the face of the global recession, ensuring the economy is secured to make the most of the global recovery. Some of the key initiatives consist of: †¢ The Government has spent $12.2 billion to assist households financially and support economic growth. The household stimulus package provides extensive support from low to middle-income earnersShow MoreRelatedGlobal Economy : Global Economic Crisis1249 Words   |  5 PagesGlobal Economic Crisis Introduction Trade among countries has been an important accelerator of economic growth. It has created employment opportunities for many people in the world. However, due to this trade-like financial openness the economy is exposed to external shocks. In 2008, the U.S.-originated financial turmoil threatened the global capitalist system. All countries in the world were affected. The repercussions of the turmoil widespread around the globe resulted in various issues in theRead MoreThe Global Financial Crisis Of The Usa1383 Words   |  6 PagesThe recent global financial turmoil started on July 2007 ,mainly in the USA and spread among developed nations in the later part of 2008 and subsequently shifted to the developing nations .this crisis consisted of some prime drawbacks not only for the developed countries but also for developing countries .the most talked about issue in the recent financial arena in the global financial crisis ,which started to show its effect in the middle of the year 2007.the turmoil ,however ,was rooted in theRead MoreThe World Economic Crisis Of 20081701 Words   |  7 PagesTask 2 - Essay â€Æ' Essay The world economic crisis of 2008 was the worst global crisis after the great recession of 1929-30. The most affected economies from the crisis are western European countries. The economic crisis sub sequentially lowers the growth rate of the economies. A large number of American companies incurred heavy losses and it declines in the gross domestic product widely known as GDP of the country. China plays a significant role during the economic crises (Lardy Subramanian, 2012)Read MoreImpact of Financial Crisis on Gulf Area Essay1732 Words   |  7 PagesThe global financial crisis that was experienced in 2007/2008 affected many nations of the world. Some countries such as America and most European countries were hard hit since they were directly affected by the crisis. Other countries especially those in Asia and Africa were not adversely affected as they were not directly hit by the crisis. This crisis started in the United States after the housing bubble busted. Although the bursti ng of the housing bubble was the main cause of the crisis, thereRead MoreImpact of the Economic Global Crisis: Current Situation and Prospects in the Philippines1677 Words   |  7 PagesImpact of the Economic Global Crisis: Current Situation and Prospects in the Philippines Asia in general was not affected by the current global financial crisis (1). The source of the crisis did not come from the developing countries as seen in the 1990s during the Asian crisis. In 2008 - 2009, the developed world initiated the global financial crisis with the sub prime lending implosion; thus, affected the rest of the world. The Philippines in particular did not fall into a recession since theRead MoreThe Current Financial Crisis Essay869 Words   |  4 PagesFrederic Mishkin makes the point in the text, The Economics of Money Banking, and Financial Markets (2010) that â€Å"Banks and other financial institutions are what make financial markets work. Without them, financial markets would not be able to move funds from people who save to people who have productive investment opportunities.† (p.7). The movement of funds between savers and those with productive investment opportunities is the means of creating growth. When people lose confidence in the economyRe ad MoreThe Effect of Recent Financial Crisis and Regulatory Implications in Asia1532 Words   |  7 Pagesdue to lack of education. Now on the larger scale is the impact on the institutional level of the global financial crisis. The financial crisis began in United States in 2007 and spread to other countries. The crisis was triggered by a liquidity shortfall in United States banking system and resulted to the collapse of financial institutions. Asia is one major continent in which the recent financial crisis had spread. The impact of the crisis had far reaching effects on the economy of Asia than manyRead MoreWhy India Recovered Quickly From The 2008 Global Crisis Essay1594 Words   |  7 PagesIndia recovered quickly from the 2008 global crisis? Vivek Shah MBA AF 629 December 12, 2016 Introduction It’s the most heard term about the global economy in the recent years and it’s the year we have been always hearing about its 2008. We all have been a part of it in some or the other way and all the major economies had been affected by the global turmoil which eventually lead to the worst situation after the Great depression of 1929. The sub-prime crisis in USA which lead to great recessionRead MoreChin A Better Market For New Entrepreneurs886 Words   |  4 PagesChina Is a Better Market for New Entrepreneurs Than the U.S. Most of the people believe the U.S. have the best economic system and the most mature market in today’s world, it should be the best market environment for most of the new business or new entrepreneurs; however, in the recent years some Asian markets are also developing rapidly, the most outstanding one is the Chinese market. With the Chinese government’s strong internal motivation and aggressive import and export policy I believe it isRead MoreSimplified Chinese English German Traditional Chinese Essay1707 Words   |  7 PagesCenter:Providing outstanding research papers download Home Management Education Economics Engineering Marketing Medicine Culture Science Computer Literature Political Legal English Philosophy Business Practical Accounting Work Plan Work Summary Fiscal Levy Securities Finance Financial Management Public Management Location:Research Papers Center economics papers International Trade papers papers Analysis of the European debt crisis continue to simmer China s influence and inspiration Papers Category:Economics

The Black N Decker Matrix System - 1319 Words

The product I have chosen is the Black+Decker MATRIX System. This tool is used by many people who can consist of, but not limited to, homeowners, construction workers and contractors. We see a lot of homeowners’ purchase this tool because it is a combination of many tools in one allowing them to perform all their DIY needs. In 2012, Black+Decker launched the MATRIX System and it received a â€Å"Best of What’s New† Award from Popular Science Magazine. This system is available as 12V MAX* or 20V MAX* and comes with a 4.0 Amp base power unit. The base power unit is sold as the main operating tool which has the drill/driver attachment. In order for the customer to keep all their tools in one place Black+Decker is coming out with two storage†¦show more content†¦CDIY (Consumer Do-It-Yourself) net sales increased $186.1 million (4%) in 2012 compared to 2011. CDIY increased 5% organically in 2012 due to the gain in market shares and the successful new products from DeWALT and Black+Decker, which include the MATRIX tool. The factors that contribute to the demand of the Black+Decker MATRIX line are the physical demands for work, characteristics of the object and the layout and condition of the workplace. This tool was designed for performance and compactness which tends to be an issue in a lot of work conditions. The Black+Decker MATRIX tool is a normal good. This tool experiences an increase in demand as the real income of an individual or economy increases. Incomes may rise in the future but if they don’t I don’t believe this will impact the demand for the Black+Decker MATRIX tool. The MATRIX tool and its attachments are very well priced for users to purchase. For the 5 Piece Combo Kit, which includes 20V MAX* power unit, drill/driver attachment, sander attachment, jig saw attachment, impact attachment, two 20V MAX* Lithium Ion batteries, oscillating attachment and 20V MAX* charger is only $189 at Wal-Mart. Of course, the tools are available in two pieces for other convenient uses. The head attachments purchased by themselves can range from $29.99 to $39.99. This tool was announced as one of the â€Å"Best of What’s New† in the Popular Science Magazine. The tool has

Smoking Cigarettes Should Be Banned as a Drug - 1854 Words

Plague and cholera caused thousands of millions of people dead. Thanks to the medical advances, those diseases were eradicated. Now, when the whole world is worrying about AIDS, which has not found the solution yet; the appearance of tobacco is causing the great harms to human life. Many people think that they have the right to smoke; smoking helps them deal with stress and work more effectively, and they are contributing to their country’s economy when they smoke. On the other hand, people will get addicted to cigarette. Moreovers, smoking has many negative effects on the smokers, the non-smokers, and the environment. Smoking cigarette extremely affects human health. Smoking can cause diseases of the lungs, liver, and heart. Smoker’s life†¦show more content†¦CO bonds to hemoglobin more tightly than CO2 and leaves the body more slowly (â€Å"Tobacco†), which allows CO to build up in the hemoglobin, in turn reducing the amount of oxygen the blood can car ry. Lacking adequate oxygen causes the damages to most of the bodys organs, including the heart and brain. Moreovers, there are thousand of other chemical elements in cigarette such as Arsenic - used in wood preservatives, Benzene - an industrial solvent, refined from crude oil, Cadmium - used in batteries, Nitrosamines - another group of DNA-damaging chemicals, and Tar - a mixture of dangerous chemicals, which adds to the flavor of cigarettes. It is released by the burning of tobacco. As it is inhaled, it enters the air cells of the lungs. This stimulant causes structural changing of bronchial mucosal glands. It affects to bronchial mucous cells and causes of losing cilia cells. These changes will increase the mucus and reduce filtration efficiency of mucus-cilia carpet (â€Å"Smoking and Cancers†). The chemical elements in cigarette are dangerous, â€Å"mutagenic† (â€Å"Tobacco†) which is the capable of increasing the frequency of mutation, or change, in the genetic material, and â€Å"carcinogenic† (â€Å"Tobacco†) which is the cancer causing. Smokers have a high risk of getting cardiovascular diseases. The Health Consequences of Smoking-Cardiovascular Disease: Report of the Surgeon had linked cigarette smoking to cerebrovascular disease (strokes) andShow MoreRelatedEssay On Cigarettes Should Be Banned707 Words   |  3 PagesIf you had the chance to save your own life, or even the lives of everyone around you, would you take it? Choosing to light another cigarette is choosing to commit another murder and taking another stab at your lungs. Smoking is the cause of one in five deaths each year in the United States alone. Since cigarettes can be considered a mass murder, they should be banned. They are dangerous to smokers and everybody around them, and that makes them vulnerable to secondhand smoke. Smokers are more proneRead MoreShould Cigarettes Be Banned in the U.S.?1400 Words   |  6 PagesShould Cigarettes Be Banned in the U.S.? Tobacco has been around in the world for over 2.5 million years. It was not until a few hundred years ago when the tobacco industry decided to put these crops into use and conjure up tobacco products for the community. A popular tobacco product in society is cigarettes, as they are cheap and simple to use. As long as one is over eighteen, acquiring cigarettes is a straightforward process for a reasonable price, albeit the sin tax. It was not until recentlyRead MoreShould Cigarettes Be Banned in the U.S.?1444 Words   |  6 Pagescommunity. A popular tobacco product in society is cigarettes, as they are cheap and simple to use. As long as one is over eighteen, acquiring cigarettes is a straightforward process for a reasonable price, albeit the sin tax. It was not until recently when cigarettes became widely controversial due to the plant containing nicotine, an addictive drug to the body. Aside from containing nicotine and other hazardous chemicals to the body, cigarettes also cause a whole host of health implications to theRead MoreTaking a Look at Smoking1682 Words   |  7 Pagesworldwide from smoking tobacco; in the United States about 480,000 people die per year (â€Å"General†). That is roughly 1,300 people a day losing their life to the most preventable cause of death in the world. The media will often cover the deaths of celebrities and individuals who die in unique accidents. However, they fail to mention the 1,300 smoking related deaths per day. Why arent these deaths announced when celebrity deaths are the headlines of the day? Teenagers who think smoking is a cool habitRead MoreShould Cigarette Smoking Be Banned?899 Words   |  4 Pages Should Cigarette Smoking Be Banned Whether or not cigarette smoking should be banned completely, has become an object of controversy in many countries. Should cigarette smoking be banned for everyone in the United States? Smoking tobacco products have been around for decades and in many different forms. According to the Centers of Disease Control and Prevention (CDC), cigarette smoking is the leading preventable cause of death in the United States. Cigarette smoking causes more than 480,000 deathsRead MoreEssay about Smoking Should be Banned in All Public Places1133 Words   |  5 PagesSmoking Should be Banned in All Public Places Every year thousands of people die because of having cancer or other tobacco related illnesses due to smoking. Smoking is seen everywhere from our own television screens to even the world wide web; the internet. Tobacco is the substance that is in these cigarettes. These tobacco products are promoted through tobacco ads that are found almost everywhere you turn. They are in magazines, television screens, on the internetRead MoreShould Cigarette Smoking Be Banned?925 Words   |  4 PagesProfessor Fuentes English 1003 April 22, 2015 Ban smoking in the United States Tobacco use is the single largest preventable cause of diseases and premature death in the United States (U.S.), yet more than 45 million Americans still smoke cigarettes. The health threat posed by tobacco has been accepted by scientists since the 17th century. In 1928, studies linked smoking to cancer. In 1964, the first Surgeon General’s report on cigarette smoking summarized the evidence that tobacco poses seriousRead MoreSmoking Cigarettes Persuasive Essay1032 Words   |  5 Pagesyears now, cigarettes have been used by a variety of people. The majority of people who smoke cigarettes know of the consequences that come with smoking; they are aware of the potential danger they are causing to themselves and the people around them. As the government, you may encounter economic benefits when people buy cigarette packs; however, these economic advantages get outweighed by the disadvantages that also come included. I believe that as the government, you should ban cigarettes in theRead MoreWhy Smoking Should Be Banned884 Words   |  4 Pagespeople smoke? Is smoking really healthy for them? How much does it cost an individual to smoke? What are the costs to society when people smoke? These are all questions that can easily be taken care of by banning cigarette smoking. It is really a disgusting sight to see a woman with a cigarette hanging out of her mouth. It is equally bad to see children with smoking cigarettes. B. Cigarette smoking should be banned, not only in restaurants but everywhere. When someone smokes cigarettes it affects theRead More Smoking should be banned all over the United States Essay1657 Words   |  7 Pages Smoking is an activity that has been around for many years for people to use and adapt into their lifestyle. It is a tool that many people use to help reduce the stresses of life and put them in a comfortable position that enables them to cope with the hectic lifestyle they are living. However, smoking has been scientifically proven to cause many types of cancer, the most common being lung cancer resulting in numerous deaths across the United States. According to BBC, Smoking is a greater cause

What Is Enlightenment - 1028 Words

A More Enlightened Contemporary Society What is Enlightenment?, an explication that was written in 1784 in Prussia by the philosopher Immanuel Kant, discusses the principles that he deems to be truths surrounding significant topics such as freedom, reason, and an individual’s and/or societal necessity to be fully mature, in terms that he described as being scholar. Here, what is most evident is the reality that while he perceived the society as being unprepared to be fully mature, he nevertheless held faith on his belief that an age is fast approaching when societies will truly exhibit advances that will benefit them not only in political terms, but more so in their spiritual beliefs. As such, the importance of this particular literary†¦show more content†¦As such, several were of universal relevance, in that the realities of these teachings are able to withstand time. One of those is the truth in his claim that an individual who only teaches under a system that ha s been in existence for long periods of time, and of which he merely voices out the thoughts of his superiors, is inherently possessing a limited form of freedom. This can be proven by one of his cases, which is the priest, wherein his authority is understandably inferior to that of the entire organization, whereby the principles that he is able to preach must follow the pattern that has already been sturdily set. Another aspect that makes for a strong argument in his work can be evidenced in his prescribed motto of enlightenment, which is to â€Å"Have courage to use your own understanding† (Kant 1). As such, any individual who lacks the bravery to be independent in his decisions and who has learned the habit of relying on others to do the thinking for him will most assuredly find it difficult to attain maturity, in the intellectual and emotional aspect. Despite of the excellence and relevance of Kant’s work, I tend to perceive several arguments as weak points. On e of those is his seeming generalization of religious people as being possessing of a private type of reason. In my own viewpoint, this may prove to be a fallacy, as what can be evidenced in the proliferation and the different denominations ofShow MoreRelatedWhat Is Enlightenment1120 Words   |  5 PagesIn his essay titled What is Enlightenment? Immanuel Kant defines enlightenment as mans leaving his self-caused immaturity. (145) In order to fully comprehend his definition, one must first clearly understand Kants use of the term immaturity. He explains that immaturity is not thinking for oneself because of a lack of determination and courage to use ones intelligence without being guided by another. (145) To Kant, immaturity is the individuals fault. He explains that a pattern of immaturityRead MoreWhat is Enlightenment? Emmanuel Kant1086 Words   |  5 PagesIn his essay writing â€Å"What is Enlightenment?† Immanuel Kant defines enlightenment as â€Å"man’s emergence from his self-imposed immaturity† (Kant, 1). In order for us to completely understand this definition, we must first understand what Kant meant by â€Å"Immaturity†. In the writing Kant defines immaturity as â€Å"the inability to use one’s understanding without the guidance from another†(Kant, 1). Furthermore, Kant believes that this immaturity is self-imposed, and that it is the individual’s fault for lackingRead MoreWhat is Enlightenment? by Immanuel Kant607 Words   |  2 PagesIn this paper I will be talking about the article â€Å"What is Enlightenment† by Immanuel Kant. In this paper I will be answering the question that was given at the end of the articl e. I will talk about what enlightenment and what it entails. What tutelage is according to Kant? Also explain what Kant thought about the subject. What are the conditions for the gradual spread of enlightenment in the community? These are some of the questions that I will be answering in the essay and also give my opinionRead MoreThe Enlightenment Philosophers: What Was Their Main Idea2373 Words   |  10 PagesNetwork  » Literary Periods  » The Enlightenment 57 The Enlightenment The Enlightenment, sometimes referred to as the Age of Reason, was a confluence of ideas and activities that took place throughout the eighteenth century in Western Europe, England, and the American colonies. Scientific rationalism, exemplified by the scientific method, was the hallmark of everything related to the Enlightenment. Following close on the heels of the Renaissance, Enlightenment thinkers believed that the advancesRead MoreWhat Was the Main Ideas of Enlightenment Philosophers?838 Words   |  4 PagesXavier Jefferson 4-13-13 Mr. Love What is the Church? What is the church’s purpose? What is the Church? There are many different churches in America that say to be â€Å"Christian† and all claim to be the church that Jesus built, or say they are a part of it. We need to go back to the bible and see what it tells us (Christians and non-believers) about the church. The church is â€Å"an assembly† or â€Å"called out ones but to me it is the people that make up the church. It isn’t as people think and sayRead MoreTo What Extent Was the Enlightenment the Cause of the French Revolution3952 Words   |  16 PagesTo what extent were Enlightenment ideas responsible for the outbreak of the French Revolution and the reforms of 1789? Included sources attached: John Locke, â€Å"Two Treatises on Government†, 1690; The Declaration of the Rights of Man and the Citizens, 1789; Arthur Young â€Å"Travels in France during the Years 1787, 1788, 1789† The ancien rà ©gime, the time before the outbreak of the revolution, was divided into three estates. The first estate, for the people of the highest position in France belongedRead MoreWhat was the historical significance of Voltaires Candide and its relevance during the Enlightenment?1445 Words   |  6 PagesWhat was the historical significance of Voltaires Candide and its relevance during the Enlightenment? In his work, Candide, Voltaire uses satire as a means of conveying his opinions about many aspects of European society in the eighteenth century, a period known as the Enlightenment. This Age of Reason swept through Europe, offering differing views on science, religion, and politics. The following essay will outline the philosophical theory of Pangloss, a character of the novel and suggestRead MoreTo What Extent Was The Enlightenment The Main Driving Force Behind The American And French Revolutions?1479 Words   |  6 PagesI. Source Evaluation This investigation focuses on the causes of Atlantic Revolutions and will explore the question: To what extent was the Enlightenment the main driving force behind the American and French Revolutions? The years 1685 to 1815 (Strayer, 2011) will be the focus of this investigation to allow for an analysis of the Enlightenment ideas’ impact the need for governmental change in the American colonies and France during the eighteenth century, as well as their governmental influencesRead MoreEurope, Ireland and the wider world I: Renaissance to Enlightenment, 1350 – 1750: HI2102 What were1200 Words   |  5 PagesEurope, Ireland and the wider world I: Renaissance to Enlightenment, 1350 – 1750: HI2102 What were the main causes of the Flight of the Earls? On the 14th of September in the year 1607 the Earl of Tyrone Hugh O’Neill and the Earl of Tyrconnel Rory O’Donnell fled Ireland alongside officials, their families and numerous Gaelic chieftains. They left Ireland from Rathmullen in County Donegal. This flee was to become known as the flight of the Earls. They arrived in the Spanish Netherlands and then eventuallyRead MoreWhat Is the Enlightenment? How Was This Question Answered by 18th Century Thinkers? and How Have Their Ideas Influenced Our Understanding of Modernity?962 Words   |  4 PagesThe Enlightenment of the eighteenth century was an intellectual movement and was seen to have different definitions created by a range of philosophes during and after the enlightenment period. These philosophers included Immanuel Kant, John Locke, Francis Bacon, Marquis de Condorcet, Jean-Jacques Rousseau and Rene Descartes. Some believed that the enlightenment somewhat defined what we now call modernity and consider to be human . Immanuel Kant quoted in his famous 1784 essay, the â€Å"Enlightenment is

Multiple Regression Analysis Free Essays

Multiple regression analysis was used to measure the relationship between the cost of equity capital and the independent and control variables. It was found that the cost of equity capital is relatively lower when the index of CSR disclosure is higher, reason being immense CSR implementation minimizes the general risk of a company. It was concluded that CSR disclosure in the company’s annual reports reduces the cost of capital by reducing information asymmetry and subsequently reducing company’s risk which benefits both the investors and speculators. We will write a custom essay sample on Multiple Regression Analysis or any similar topic only for you Order Now According to Baimukhamedova and Luchaninova (2017) who examined the relationship between corporate disclosure and cost of equity capital on a sample of 37 largest and most liquid firms listed at Kazakhstan Stock Exchange for period 2008 to 2014, the study used multiple linear regression models. The findings indicated that firms with higher level of financial transparency are associated with significantly lower cost of equity capital. The results shown that firm on the Kazakhstan market reduce their cost of equity capital by increasing the level of their voluntary corporate disclosure. Moreover Stanwick (1998) studied the relationship between corporate disclosure and organizational size, financial performance and environmental performance. The objective of the study was to examine the relationship between social performance of the organization and the environmental performance of the organization. Data was collected from 1987 to 1992 and descriptive design was used. Corporate reputation index was constructed. The findings were that social performance was indeed impacted by the size of the firm, the financial performance of the firm and amount of pollution emissions released by the firms. 2.3.3 Corporate Social Responsibility Voluntary Disclosure and the Cost of Equity CapitalA study by Hossain and Hammami (2009) purported that financial results released are the foundation of an organization’s budget and performances. The analysis involves comparing a firms performance with that of the others firms in the same industry and evaluating trends over time. Financial analysis involves the use of simple mathematical techniques, an understanding and appreciation of business strategy and future prospects through and examination of financial statements. Financial ratios play a key role in financial management. The extent to which a firm’s uses debt financing is what is called financial leverage. Also Botosan and Plumlee (2002) investigated the relationship between cost of capital and annual reports disclosure, timely disclosure (quarterly or other published reports) and investors relations disclosures, they found a negative association for the annual report disclosure, their research showed that the cost of capital is positively related to timely reporting actions which could be attributed to the fact that timely disclosure increase the volatility of the share price by attracting transient investors who trade aggressively on short term earning , however they did not find association between cost of equity financing and investor relations disclosures. In evaluating the relationship between information asymmetry and financing methods (debt and equity financing) of firms listed on the Tehran Stock Exchange from year 2003 to 2010, Mahdi, Vahab and Hamin (2015), found that there no significant relationship between information and debt financing though information asymmetry is positively associated with debt financing, however there was a significant positive relationship between information asymmetry and equity financing. The study was done using secondary dataset of 61 firms were explored where debt and equity financing methods were adopted where data was extracted from financial statements of sample firms and was analyzed in excel and stata. The result of the study showed. In this study used stata and excel. Another study by Mangena, Jing and Tauringana (2016) investigated whether Intellectual capital and financial disclosure jointly affect the firms cost of capital for 125 UK firms listed on the London Stock Exchange (LSE) representing firms across industries from March 2004 to February 2015, data for measuring disclosure are drawn from annual reports. They used descriptive approach as their study methodology. The study found that IC disclosure is negatively related to the cost of equity, the relationship between financial disclosure and the cost of equity capital is magnified when combined with the IC disclosures. It was also observed that IC and financial disclosure interacts on the effects of the cost of equity capital, the analysis of this interactions demonstrates that the effect of financial disclosure on the cost of equity capital is augmented for firm characterized by medium level of IC disclosure. Used stataIn their study, Francis, Nanda and Olsson, (2002) investigated the relation among voluntary disclosure, earning quality and cost of capital. The study was done in Chicago, USA on 677 firms’ annual reports and 10-K filings in the fiscal year 2001 using self constructed index of coded items. It was noted that firms with good earning quality have more expansive voluntary disclosure than firms with poor earning quality, on unconditional tests, it was found that more voluntary disclosure is associated with lost cost of capital, however on complementary association between disclosure and earning quality it was noted that the disclosure effect on the cost of capital is substantially reduced or disappear completely. Additionally, Cerf (1961) investigated the relationship between voluntary disclosure of information and the level of profitability, size of the firm and its shareholders in the US market. The methodology used was descriptive approach which focused on analyzing the association between voluntary disclosure of information and the level of profitability on annual reports of 25 different companies listed on the New York Stock Exchange, he found a positive relationship between voluntary disclosure of information and the level of profitability, size of the firm and its shareholders. 2.3.4 Board Size Information voluntary disclosure and Cost of Equity CapitalIn examining the effect of board independence and voluntary disclosure on the cost of equity capital, Setiany et al. (2007) showed that there is a significant relationship between voluntary disclosure and firm’s cost of equity capital. The study employed regression analysis on secondary data from companies listed in indonesian Stock Exchange during the period of 2009 to 2012 on a sample of 104 companies in the manufacturing sector. The study concluded that there is no relationship between board independence and cost of equity capital, however the results. However Khemakhem and Naciri (2015) examined the association between board and audit characteristics and the cost of equity capital in Canadian market. The methodology used descriptive statistics on a sample of 139 firm year observation from proxy circulars, proxy statements and annual reports of Canadian companies that were part of S/P TSX for the period 2004 to 2006. The study found that the size of audit committee and non-duality of the chairman of the board are positively related to the cost of equity capital, also the study revealed that the independence and board size do not affect the cost of capital for firms in the sample. Fauzi and Locke (2012) investigated the role of board structure and the effect of ownership structure on firm performance of New Zealand listed firms. The study employed balanced panel methodology on 79 New Zealand listed firms, it also employed Generalized Linear Model (GLM) to analysis data from annual reports of listed firms for the period of 2007 to 2011.the results of the study show that the board of directors, board committee and managerial ownership have a positive and significant impact on the firm performance. While Hasan et al. (2009) examined the impact of ownership structure and corporate governance on capital structure using a sample of 58 randomly selected non-financial listed companies from Karachi Stock Exchange for the period 2002 to 2005. Data was analyzed using multivariate regression analysis under fixed model approach. The results show that board size is significantly related to capital structure. However, non executive directors on board and CEO/Chair duality have no significant relationship with capital structure. Similarly, Jaradat (2015) investigate the effect of board size, board gender, outside director and CEO duality on the capital structure in Jordanian firms. Observation was done on 129 firms for the period 2009 to 2013. Multiple regression analysis was employed to test the association of secondary data collected from yearly annual reports. The results showed a positive association between board size, board diversity and outside directors and the capital structure, however for CEO duality and capital structure there was no significant relationship. 2.4 Conceptual framework This section will deal with operationalization of variables of the study, measures of voluntary disclosure and measure of the cost of equity capital. Independent variables Dependant Variables VariableIn this study the dependent variable is the cost of equity capital while the independent variables also referred as voluntary disclosure are the general corporate and strategic disclosure, forward-looking disclosure, social and board disclosure and financial disclosure (Barako, 2007) CHAPTER THREE RESEARCH METHODOLOGY 3.1 Introduction This chapter discusses the methods and procedures to employ to conduct the study. This chapter presents details of the research design, population, sampling and sampling procedures data collection methods, data analysis technique data and instruments for data analysis. 3.2 Research Design Research design is the framework the research intends to follow. It describes the nature and pattern the research intends to follow (Makerere University, 2011). Ogula (2005) describe a research design as a plan, structure and strategy of investigation to obtain answers to research questions and control variance. This study will adopt descriptive research design as it describe the characteristic and association voluntary disclosure and cost of equity capital of firms listed at NSE. Based on the secondary data to be obtained from annual reports and accounts of companies quoted in the NSE and company website. The choice of descriptive is motivated by the fact that it involves gathering data, observing and describing the behavior of the data without influencing it in any way (Bryman, 2001). This will be appropriate in the study since it will establish the effect of voluntary disclosure on the cost of equity capital. 3.3 Target Population Mugenda and Mugenda (2009) define a population as sum of all the items considered under a study. According to Ngechu (2004) a population is a well defined set of people, services, elements events or households that are being investigated. The target population for this study will consist of 64 firms listed in NSE (CMA, 2017), however consideration will only be on those which have been continuously trading since 2011 without being suspension or delisting 3.4 Sample Size and Sampling Procedure A sample is sub-group of the target population chosen by the researcher to represent other members of the target population (Amin, 2004). Sampling is the process, technique and procedure of choosing a sub-group from a population to participate in the study. Oso and Onen, 2009) stated that there are two main ways of selecting study sample from the target population, probability and non-probability sampling technique. The study will apply purposive sampling technique to select companies to be included in the study. Kothari (2004) stated that in purposive sampling technique an element is selected though subjectively defined method where the researcher personal judgments play an important role. An optimum sample is one which fulfils the requirements of efficiency, representativeness, reliability and flexibility. The study will comprise of a sample of 20 firms from NSE 20 share index selected based on a weighted market performance in the year 2017 (NSE, 2017). 3.5 Instrumentation and Data Collection Creswell (2008) argues prior to research, a researcher ought to develop a data collection instruments which is meant to measure, observe data under investigation. The study will use Disclosure Check Index (DCI) as the principal instrument for data collection of voluntary disclosure information. According to Mugenda and Mugenda (2009), How to cite Multiple Regression Analysis, Papers

Mount Everest Essay Example For Students

Mount Everest Essay The speakers words silenced the audience as he began, ?On the night of May 10, 1996 a blizzard swept over Mount Everest, striking more than thirty mountain climbers with heavy snow, subzero temperatures, and unbelievably strong winds. In the next twenty-four hours, eight of the climbers, including three professional guides were dead. This night would become the most ill fated attempt ever to summit Mount Everest.Among these climbers was a 49-year old Dallas pathologist and an amateur climber, Dr. Beck Weathers, who was left to die in the icy storm 300 yards from his camp. Miraculously, Dr. Weathers survived and came back from his ordeal to speak of his experiences, and to tell us about some valuable lessons he has learned. Lets welcome Dr. Beck Weathers.?I watched and listened as this man swayed his disfigured arms and explained that he had scaled the worlds largest heights and yet, still had not been at peace with himself. He had wanted more ?courageous? success, because he had conq uered all but the grand Mount Everest. The drive for more accomplishment and the need to be more ?courageous? had persuaded Beck to follow the 1996 expedition. Beck sobbed as he stated that on May 10, 1996, he had realized, as he was near death, that what he had thought to be courageous was truly a relentless pursuit of success and goals and ambitions. He had risked his life in a cowardly and selfish way for his own fortune. Dr. Weathers had found that his irrational triumph of desire over sensibility was the most pathetic feat he was to face. Risking your life, such as mountain climbers do, is not an act of courage because it is backed by low self-esteem and is in pursuit for irrational goals and selfish success. Courage is denoted by Encarta Encyclopedia 96 dictionary as the quality of the mind that enables one to face danger with confidence and resolution. Danger is defined as exposure to harm and should be faced with self-assurance. Beck Weathers exposed himself to danger because of his lack of self-assurance or inner peace. Beck disclosed to the audience that had he been surer of himself as a person, his ideals of achieving everything might not have been so harsh and ridiculous. Unfortunately it had taken Beck a near death experience to drag out of life what was really important to him. Dr. Weathers explained that the climbers had set out for fame of scaling the highest peak in the world. The climb had been in pursuit of irrational goals that had lead many to their deaths and Beck to eight major operations and several minor ones to rebuild his left hand and nose, while his right hand was amputated from the severe frostbite. Even Jon Krakauer, a fellow climber of Becks on the 1996 expediti on, stated in his novel Into Thin Air that there were many, many fine reasons not to go, but attempting to climb Everest is an intrinsically irrational act. Any person who would seriously consider it is almost by definition beyond the sway of reasoned argument. Beck continued his story and told us that there are blocks of ice the size of multistory buildings that teeter and fall, wiping out everything below them, and the air is so thin that if a person was instantaneously transported there, on Everest, that he or she would immediately die. Climbers eventually reach heights where the lack of air is so great that they cannot eat, drink, or sleep. ?The drive to climb is extremely irrational. It defies logic. ? (Mudge, 2). .ud19a123a8bfead4d019cd46306ff019a , .ud19a123a8bfead4d019cd46306ff019a .postImageUrl , .ud19a123a8bfead4d019cd46306ff019a .centered-text-area { min-height: 80px; position: relative; } .ud19a123a8bfead4d019cd46306ff019a , .ud19a123a8bfead4d019cd46306ff019a:hover , .ud19a123a8bfead4d019cd46306ff019a:visited , .ud19a123a8bfead4d019cd46306ff019a:active { border:0!important; } .ud19a123a8bfead4d019cd46306ff019a .clearfix:after { content: ""; display: table; clear: both; } .ud19a123a8bfead4d019cd46306ff019a { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ud19a123a8bfead4d019cd46306ff019a:active , .ud19a123a8bfead4d019cd46306ff019a:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ud19a123a8bfead4d019cd46306ff019a .centered-text-area { width: 100%; position: relative ; } .ud19a123a8bfead4d019cd46306ff019a .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ud19a123a8bfead4d019cd46306ff019a .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ud19a123a8bfead4d019cd46306ff019a .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ud19a123a8bfead4d019cd46306ff019a:hover .ctaButton { background-color: #34495E!important; } .ud19a123a8bfead4d019cd46306ff019a .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ud19a123a8bfead4d019cd46306ff019a .ud19a123a8bfead4d019cd46306ff019a-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ud19a123a8bfead4d019cd46306ff019a:after { content: ""; display: block; clear: both; } READ: Confucianism and Buddhism EssayEncarta ?96 defines selfishness as thinking only of oneself. Dr. Weathers noted that of all the thirty climbers, many had spouses and children, including himself, in which their headstrong desires had forgotten to consider. The determined, stubborn climbers neglected to think of what possible consequences could have or did come, and how they could have effected or did effect their families. Krakauer states in his novel that Everest seems to have poisoned many lives. Relationships have foundered. The wife of one of the victims has been hospitalized for depression, and many families have been torn apart from the strain of coping with the expedi tions aftereffects. Instead of being courageous and saving ones life, the mountaineers had put their own lives in jeopardy for fame and had only cared for themselves. In an interview conducted by Alden Mudge, Jon Krakauer reveals the cowardly selfishness that was among the whole party, ?Climbing is a subculture that prides itself on the purity of its ideals. It has these weird rituals and rules that most people wouldnt understand. Some of it is kind of sick, because it idealizes boldness and risk-taking to such a degree. But its these ideals about respecting your partner and about ?how you climb being more important than what you climb are really good. I betrayed those ideals. For that I really beat myself up.?There was an air of everyone for himself or herself on Mount Everest. No one had the energy or created the energy to carry another load. That was why Beck Weathers was left in the snowstorm to die and yet, he had understood the selfish reasoning and blamed no one for his ordeals except himself for following his desire instead of logic. On the other hand, Krakauer had his own sense of why things went so horribly wrong. ?Everyone climbed independently, at their own pace, which was good. But when you are roped to someone you develop this weird intimacy; every time you take a step, they have to take a step. You develop a bond that was just lacking on Everest. We werent encouraged to look after our fellow clients and certainly not our guides.?(Mudge, 2). There have been many mountaineers who have jeopardized their life for the sake of others, which proves to be a true act of courage. Beck again sobbed as he had spoke of his guides that had lost their lives to help their clients down the ill-fated summit of Everest. They were truly courageous. Rescue teams scaled the mountain to save the lives of some victims on Everest. They were truly courageous. Beck ended his story by telling of his rescue by a Nepalese army pilot who flew his helicopter at a higher altitude than any helicopter had flown before. That was truly courageous, but as for the mountaineers who were headstrong in the first place; they were not courageous. The true heroes had to save the irrational, selfish mountain climbers who thought they were being courageous. Beck Weathers concluded his speech with, ? In one of those old movies-maybe it was ?Wizard of Oz-they talk about these things that you dream about and you pursue and you go out and see if you can find this thing that in some way validates you and makes you whole. And then, when all is said and done, you come back and you discover that it was in your back yard the whole time.? Unfortunately, Weathers was a slow learner, but it is never too late to learn. Risking your life for fame and fortune is just not worth it. There are more important things in life. It is not courageous, and it is definitely not safe to throw your life on the line to climb the greatest peaks of the world. Krakauer gives statistics that for every four people who summit a mountain, one dies; and for every thirty who attempt, one dies. Krakauer found on the Internet, as part of a South African discussion about Everest, on October 14, 1996, the following message:I have never gone back to my homeland because I feel it is cursed. But my people went the other way. They helped outsiders find their way into the sanctuary and violate every limb of her body by standing on top of her, crowing in victory, and dirtying and polluting her bosom. Some of them had to sacrifice themselves, others escaped through the skin of their teeth, or offered other lives in lieu?So I believe that even the Sherpas* are to blame for the tragedy of 1996. I have no regrets of not going back, for I know the people of the area are doomed, and so are the rich, arrogant outsiders who feel they can conquer the world?(Krakauer, 286). .u075581ed8006eb0dbdfb0022ee804eaa , .u075581ed8006eb0dbdfb0022ee804eaa .postImageUrl , .u075581ed8006eb0dbdfb0022ee804eaa .centered-text-area { min-height: 80px; position: relative; } .u075581ed8006eb0dbdfb0022ee804eaa , .u075581ed8006eb0dbdfb0022ee804eaa:hover , .u075581ed8006eb0dbdfb0022ee804eaa:visited , .u075581ed8006eb0dbdfb0022ee804eaa:active { border:0!important; } .u075581ed8006eb0dbdfb0022ee804eaa .clearfix:after { content: ""; display: table; clear: both; } .u075581ed8006eb0dbdfb0022ee804eaa { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u075581ed8006eb0dbdfb0022ee804eaa:active , .u075581ed8006eb0dbdfb0022ee804eaa:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u075581ed8006eb0dbdfb0022ee804eaa .centered-text-area { width: 100%; position: relative ; } .u075581ed8006eb0dbdfb0022ee804eaa .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u075581ed8006eb0dbdfb0022ee804eaa .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u075581ed8006eb0dbdfb0022ee804eaa .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u075581ed8006eb0dbdfb0022ee804eaa:hover .ctaButton { background-color: #34495E!important; } .u075581ed8006eb0dbdfb0022ee804eaa .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u075581ed8006eb0dbdfb0022ee804eaa .u075581ed8006eb0dbdfb0022ee804eaa-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u075581ed8006eb0dbdfb0022ee804eaa:after { content: ""; display: block; clear: both; } READ: Angela In American Beauty EssayBibliographyAssociated Press. ?Pathologist recovers from Everest Ordeal?. Lubbock Avalanche-Journal. 5 November 1997. http://www.lubbockonline.com/news/051297/patholog.html(22 September 1999)Encarta 96 Encyclopedia. Dictionary. Everett: Microsoft, 1995. Krakauer, Jon. Into Thin Air. New York: Villard Books, 1997. Libsy. ?Surviving and Flourishing?. 18 September 1998. http://home.earthlink.net/~iwonder/thoughts.html(22 September 1999)Mudge, Alden. ?Into Thin Air?. Book Page Nonfiction Review. 18 August 1999. http://www.bookpage.com/greetingsandreadings/9705bp/nonfiction/intothinair.html (22 September 1999)