Crisis in Traditional Roman va essays

Crisis in Traditional Roman va essays There was a great crisis in traditional Roman values during the transformation of the Roman Republic into the Roman Empire. After the Punic Wars the traditional values of Rome fell by the wayside for a new way of life that eventually led to the Roman Empire. The Cincinnatus image, rise of violence in political life, and making allies with those who were conquered were lost in this transformation. Gone was the Cincinnatus image of the Roman farmers trading their hoes for swords. Before the Punic Wars one had to own property in order to serve in the army. The soldiers in the Roman army would be farmers by day and soldiers by night. They would sow their crops, go to the front lines, and then come back in the fall to harvest the crops. Unfortunately for them, when they left their farms for the battlefields during the Punic Wars it was the last time they saw it. During the years of the Punic Wars Hannibal and his elephants ravaged the land beyond belief and destroyed the countryside farms. When the farmers returned home after the wars they found their farms totally destroyed and unsalvageable and were forced to sell their farms to the Senatorial Aristocracy. The aristocracy in turn setup laitfundias with their new land and used slaves to farm the land. This left the farmers landless and jobless so they naturally headed to the city to seek employment. This system allowed the rich to become richer and the poor to become poorer widening the income gap. In addition this system was beginning to threaten the stability of the state. Soldiers signed up with whichever general that promised him land, booty, and glory (Rogers 161). This meant that soldiers were no longer loyal to the state, but to their general. Two of the generals that became powerful at this time (between 100 and 45 B.C.E.) were Sulla and Marius. These two generals used their armies for their own personal gain. As Appian stated in his article Absol...

New Zealand Births, Deaths Marriages Available Online

New Zealand Births, Deaths Marriages Available Online For individuals researching their New Zealand whakapapa (genealogy), the  New Zealand Ministry of Internal Affairs offers  online access to New Zealands historical birth, death and marriage records. To protect the privacy of living people, the following historic data is available: Births that occurred at least 100 years ago Stillbirths that occurred at least 50 years ago (officially recorded since 1912) Marriages that occurred at least 80 years ago Deaths that occurred at least 50 years ago, or the deceaseds date of birth was at least 80 years ago Information Available Via Free Search Searches are free and generally provide enough information to help you ascertain that you have the correct individual, although information collected prior to 1875 is fairly minimal. Search results typically provide: Births - registration number, given name(s), family name, mothers given name (not maiden name), fathers given name, and whether a the birth was a stillbirth. Expect to find a large number of births with no given name recorded for the child. Births were required to be registered within 42 days, yet children were often not named until they were baptized.   Deaths - registration number, given name(s), family name, date of birth (since 1972) or age at death Marriages - registration number, brides given name(s) and family name, and grooms given name(s) and family name. Parents for the bride and groom can often be found after late 1880/early 1881. You can sort search results by clicking on any of the headings.   What to Expect from a Purchased Printout or Certificate Once you find a search result of interest, you can either purchase a printout to be sent via email,  or an official paper certificate sent through postal mail. The printout is recommended for non-official research purposes (especially for registrations after 1875) because there is room for  more information on a printout than can be included on a certificate. The printout is typically a  scanned image of the original record, so will contain all the information that was provided at the time the event was registered. Older records which have been since updated or corrected may be sent as a typed printout instead. A printout will include additional information that is not available through search: Births 1847–1875:  when and where born; given name (if provided); sex; name and surname of father; name and maiden surname of mother; rank or profession of father; signature, description and residence of the informant; date registered; and signature of the deputy registrar   Births post 1875:  when and where born; given name (if provided); whether child was present at the time of registration; sex; name and surname of father; rank or profession of father; age and birthplace of father; name and maiden surname of mother; age and birthplace of mother; when and where parents were married;  signature, description and residence of the informant; date registered; and signature of the deputy registrar.  Information available for births recorded in the MÄ ori Registers (1913 – 1961)  may be slightly different. Deaths 1847–1875: when and were died; name and surname; sex; age; rank or profession; cause of death;  signature, description and residence of th e informant; date registered; and signature of the deputy registrar   Deaths post 1875:  when and were died; name and surname; sex; age; rank or profession; cause of death; duration of last illness; medical attendant who certified the cause of death and when they last saw the deceased; name and surname of father; name and maiden name (if known) of the mother; rank or occupation of the father; when and where buried; name and religion of minister or name of witness to the burial; where born; how long in New Zealand; where married; age at marriage; name of spouse; children (including number, age and sex of living children); signature, description and residence of the informant; date registered; and signature of the deputy registrar. Information available for deaths recorded in the MÄ ori Registers (1913 – 1961) and War Deaths from WWI and WWII may be slightly different. Marriages 1854–1880: when and where married; name, surname, age, rank or profession, and marital condition of the groom;  name, surname, age, rank or profession, and m arital condition of the bride; name and signature of officiating minister (or Registrar); date of registration; signatures of bride and groom; and signatures of the witnesses. Marriages post 1880: when and where married; name, surname, age, rank or profession, and marital condition of the groom;  name, surname, age, rank or profession, and marital condition of the bride; if widow/widower, the name of former wife or husband; birthplace of bride and groom, residence (present and usual) of the bride and groom; fathers name and surname; fathers rank or profession; mothers name and maiden surname; name and signature of officiating minister (or Registrar); date of registration; signatures of bride and groom; and signatures of the witnesses.  Information available for marriages recorded in the MÄ ori Registers (1911 – 1952)  may be slightly different. How Far Back are New Zealand Births, Marriages and Deaths Available? Official registrations of births and deaths began in New Zealand in 1848, while marriage registration began in 1856. The website also has some earlier records, such as church and place registers, dating back as early as 1840. Dates for some of these early registrations may be misleading  (e.g marriages from 1840–1854 may appear with a registration year of 1840).   How Can I Access More Recent Birth, Death or Marriage Records? Non-historical (recent) records of New Zealand births, deaths and marriages can be ordered by individuals with a verified RealMe identity, a verification service available to New Zealand citizens and immigrants. They can also be ordered by members of  organizations approved by the New Zealand Registrar-General.   For a fascinating historical overview of the keeping of New Zealands registers of births, deaths and marriages, see the free PDF version of Little Histories, by  Megan Hutching of the New Zealand Ministry for Culture and Heritage.

The nerve nurses need to start their own businesses Essay

The nerve nurses need to start their own businesses - Essay Example Let start with the statistics. Today, several million of new businesses are launched in the United States each year, and most of them end up being successful (Megginson and Smart, 2008, p.823). What this means is that, since, it is a relatively common practice, one who intends to put up his or her own, will never find a shortage of support. For example, financing may be available such as the so-called angel investors, who are typically locally wealthy business people who can invest $50,000 to over $200,000 in a new business (Megginson and Smart, p. 823). More importantly, however, is the fact that it is easy to navigate the process since there are existing and established norms because business is essentially an established technology, with established tasks, objectives and milestones (p.823). Some successful practitioners manage to take advantage of this condition and avoid risks by starting small and eventually finishing big. Consider a nurse who is currently working in an institut ion. She decides to start a small business that she could conduct while she is working as a nurse. It is more like part time work but it is a start. She sets up a nursing home business by accepting old people in the community who can no longer take care of themselves. She hires an employee and proceeded on charging $150 per day. Since these are adults and not very mobile wards, she is able to accept 6-7 elderly per day, with her staff and her help during her free time. So that would be about $900-1050 per day. The elderly population in her community is quite large, so the business is poised to be popular and expansion, inevitable. The above example demonstrated several of the opportunities and the abilities involved in starting a business. It also depicts how creativity can be rewarded with success. The approach was able to address the financial problem of securing a steady flow of capital with the plan, since the example cited how the nurse began the business while still working. T his is especially important in instances when financial loans are difficult to come by. This is true in the case women. Sometimes being female can be a disadvantage in securing loans (Fielden and Davidson, 2006, p.114). Private practice can also become rewarding since a nurse is in a more position to make a meaningful difference to his or her clients. This is because, in the course of the practice, there is an opportunity to immediately decide on additional services or modifications in service being provided. The following case study demonstrates this best: Mandy, a community pediatric nurse, thought she was selling home care for children. But when she questioned her patients and their families, she found that for the parents of sick children she provided reassurance, a source of reliable information, a shoulder to cry on and a tension diffuser†¦ The response of the patients varied according to their illness. One said, ‘You can change dressing without hurting me very much , and you always tell me a nice story when you come’, while another commented, ‘You make the morning go much quicker and you make sure I

The role of procoagulant microparticles in haemostasis Essay

The role of procoagulant microparticles in haemostasis - Essay Example Procoagulant MPs mostly appear as a result of apoptosis and vascular cell activation. An increase in the level of monocyte, platelet, or endothelial-derived MPs circulating in the blood is associated with CVD risk factors and indicates poor clinical outcome. They indicate vascular cell damage and interfere with atherothrombosis by exerting effects on vascular and blood cells. Under disease conditions, cellular cross-talk is supported by circulating MPs support, which leads to vascular inflammation, leukocyte adhesion, endothelial dysfunction, and stimulation. Functional tissue factor and exposed membrane phosphatidyserine are procoagulant entities produced by circulating MPs. Platelet derived MPs (PMPs) contain anionic phospholipid PS, which makes them strongly procoagulant. The removal of MPs from the blood of normal human plasma prolongs the clotting time (Ahn, 2005). Platelet derived MPs support thrombin generation in plasma without platelets, which are important for blood clottin g. Platelets form an important substrate for coagulation and their membranes provide a surface for the formation of prothrombinase complex. This enzyme is utilized in the conversion of fibrinogen to fibrin which combines with other factors to form a stable clot (Lawrie et al, 2009). The availability of platelet MPs at the site of vessel injury contributes to the clotting process by providing a large surface membrane necessary for enzymatic process. The exposure of phosphotidyserine during thrombin generation increases enzymatic catalytic effect. The large surface formed by MPs is necessary for activating the coagulation cascade that forms the fibrin clot. Circulating MPs harbor cytoplasmic effectors or functional membrane that promotes prothrombotic responses (Ay et al, 2009). These MPs channel their procoagulant potential to the target in the presence of the appropriate counter ligands. They bind onto soluble immobilized fibrinogen forming aggregates that enhance the delivery of pr ocoagulant entities. In vitro, TF and TF-dependent procoagulant mechanism is facilitated by the interaction of monocytes and endothelial MPs. TF is a constituent protein in minute amounts that flips the endothelial procoagulant properties resulting in the initiation of a TF-driven clotting process. Blood-borne TF can be incorporated in the developing thrombus through a series of TF-dependent, CD15 and CD18, and interactions. Blood-borne TF is mainly harbored by PMPs and monocyte-derived MPs provide the enzyme after lipopolysaccharide stimulation. Polunuclear leukocytes and endothelial-derived MPs also produce blood-borne TF under drastic endothelial activation. These MPs provide the required amount of TF and circulate the enzyme, which is necessary for maintaining a hemostatic balance. MPs, selectins and TF merge into an important triad of thrombosis. The surfaces of platelet and endothelial cells contain an important adhesion molecule called P-selectin (Hugel et al, 2005). The mole cule is utilized during TF accumulation and leukocyte inclusion in the thrombus when an endothelial injury occurs. The accumulation of hematopeic cell-derived TF is similar to the MPs accumulation kinetics before leukocyte-thrombus interaction. A soluble P-selectin enhances the production of leukocyte-derived TF-MPs used to correct hemostasis. The plasma levels of microparticles increase with age, which indicates the contribution of P-selectin pathway. P-selectin pathway also favors the transfer of PF into monocyte derived

Positive Impact of Outsourcing in India Essay Example for Free

Positive Impact of Outsourcing in India Essay Outsourcing or Business Process Outsourcing (BPO) to countries belonging to the developing classification is the present trend. The establishment of outsourcing as an essential component in the world economy is a result of explosive growth of internet, development of the information society, and globalization. The outsourcing of Information Technology (IT) emerged during the time of the start of every corner of the world being brought together by the internet and the national barriers of countries all over the globe were brought down by globalization(Ghimire, 2005).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In information technology industry, outsourcing to developing countries is the latest strategy of companies from developed countries mainly as a cost-cutting mechanism. Outsourcing now is not merely other firms handling operations and services of other companies but rather it has crossed the national borders. Parts of the IT aspects or the whole business functions are now executed and managed by different companies in developing countries like India, Brazil, China, Israel, and Philippines. These developing countries have companies which cater to the needs of big companies in developed countries. Outsourcing to other countries is thus the provision of services like those associated with information technology by companies of developing countries to sustain the needs of the companies which are in developed countries. The primary driving force of big companies in developing countries employing outsourcing in developing countries are: higher efficiency, better quality of services, and cheaper labor cost(Nag, 2004).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The growth of the information technology sector of India has been unparalleled since the liberation of the Indian Telecom sector in 1994. The progression of India as a global outsourcing provider is continuous since then. Today, this country is the primary outsourcing provider in the world, holding the 44% of global outsourcing market in back-office services and software. At the end of 2005 the revenues generated by the outsourcing in this country is 17.2 US dollars; and hired direct employment of 1.05 million people and hired indirect employees which sums up to 2.5 people. These indirectly hired employees are associated with the catering and transport business(Pradhan, 2005).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Positive and negative impacts to the people of India especially on the workers of the outsourcing provider companies are brought about by this new trend. The most significant impact of outsourcing in developing countries like India is on its economy and its employment rate. Numerous numbers of individuals are given the opportunity to work for a living through the outsourcing processes. The outsourcing of the information technology (IT) to India increased the employment rate with 100,000 people being hired annually. Though the salary of those people working in an outsourcing provider from a developing country is lower than those of their developed country counterparts, these salaries are already slightly higher in relation to the rates in their developing country(Nag, 2004).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The development of new infrastructures in developing countries like India is another affirmative impact of the business operations outsourcing. Aside from this, outsourcing also brought about the transmittance of ideas and technology to developing countries regarding various aspects of the business industry like manufacturing and agriculture. Guidance in communications from business-to-business and e-commerce applications; information provision regarding marketing and prices; and conveyance of knowledge on services processing operations are among the specific benefits acquired by developing countries through outsourcing(Nag, 2004).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The primary component of India’s outsourcing industry is the call centers which are providers of information and telecommunication technology-based off shoring services. The progression of the call center industry in India brought about changes in the culture and society of this nation. India which is a patriarchal society is now faced with the issue of social, cultural, and economic women empowerment because the call center industry prefers to hire women. These women call center agents acquired financial independence hence their outlook, career choice, and attitude changed from being subordinates of the patriarchal society into women capable of being independent and asserting themselves in their society and families. Despite women though being independent financially their social status in the society is not much changed because their work is considered inferiorly dignified due to the night working hours(Pradhan, 2005).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The call centers serve as avenue for the Indian call center agents to understand the culture, customs, and accent of the West through the costumers which they provide services. These Indian call center agents are also exposed to diverse culture of the people that they work with because foreigners also come to India and work as call center agents. The outsourcing thus also serves as a medium for the Indian people especially the youth who are working as call center agents to interact with foreigners of different languages and culture(Pradhan, 2005).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Though outsourcing provides positive impacts to the people in India, it also goes along with its negative attributes. Some call center agents due to the pressures in their work and night working hours undergo panic attacks, stress, relationship troubles, depression, eating disorders, alcoholism, and relatively no social life. Mental, psychological, and health disorders are also observed in outsourcing companies due to the desire of the worker to cope with the challenges in their work. The workers of these outsourcing provider companies are subjected to racial and cultural discrimination by people of the developed countries which they service. The nature of the working hours of these outsourcing workers also brought about social division wherein the working class youth are alienated with their peers because they are not able to socialize with them(Pradhan, 2005).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Change like the development of India’s business industry through outsourcing despite having various benefits also comes with diverse disadvantages. The government which benefits from the revenues and taxes which are generated through the outsourcing industry needs to have programs to help the employees of this work force be able to cope up with the challenges they encounter. In general, outsourcing brought about boost in the economy of India and is strengthening the value of rupee against the US dollar. References Ghimire, B. (2005). IT Job Outsourcing. Ubiquity  Ã‚   Retrieved January 29, 2008, from http://www.acm.org/ubiquity/views/v6i31_bhumika.html Nag, B. (2004). BUSINESS PROCESS OUTSOURCING: IMPACT AND IMPLICATIONS. Bulletin on Asia-Pacific Perspectives. Pradhan, J. P. a. V. A. (2005). Social and Cultural Impact of Outsourcing: Emerging Issues from Indian Call Centers. Harvard Asia Quarterly, from http://www.asiaquarterly.com/content/view/155/

Huckleberry Finn, a Book of Controversy :: essays papers

Huckleberry Finn, a Book of Controversy Since its publication over one hundred years ago, Mark Twain?s Huckleberry Finn has caused many disagreements and much controversy. The style and language used by Mark Twain is found as offensive to some, uplifting to others and yet bittersweet to me. All sides have strong arguments, ones that are educated and heartfelt. That is what makes it so difficult to decide whether to teach or read aloud Huckleberry Finn in the classroom. Opponents of the teaching, or usage, of Huckleberry Finn in the classroom say that they find the book despicable, ?trash? and other harsh adjectives. One of the main reasons they criticize the book is for the usage of racial slurs towards the African-American people, such as ?nigger.? They also claim that the author, Mark Twain, stereotypes Jim, an escaped African-American slave, as to be a fool with less intelligence than a fourteen-year-old Caucasian boy does. As John H. Wallace puts it, ?It [Huckleberry Finn] contributes to their [the African-American students] feelings of low self-esteem and to the white student?s disrespect for black people As you can see feelings of some are bitter towards the usage of Huckleberry Finn in the classroom. Proponents of the book claim that the book should be taught for several reasons, including the anti-slavery message of the book. In contrast to the opponents, David L. Smith writes, he [Mark Twain] portrays Jim [the escaping slave] as a compassionate, shrewd, thoughtful, self-sacrificing, and even a wise man.? Supporters also point out that Twain actually condemns white society of the day for their barbaric practice of slavery. Supporter, Kenny G. Williams, feels that the novel should be read, for it uncovers a basic historical reality, which is important for the advancement of equality. Now you can see how people?s positions on the usage of Huckleberry Finn vary greatly from on another. I have not yet read the book, yet through some research I have found that I more support the book than denounce it. I interviewed a dark skinned friend of mine, Sanjay Nakka, and he had a positive message. He said, ?The usage of this book [Huckleberry Finn] is quintessential to the acceptance of racial equality. Sometimes we need some controversy to bring a problem to light, where you can work on it, you know I also tend to lean towards his opinion, for I have heard strong arguments against the book, yet I have heard stronger, more heartfelt and educated arguments for the use of Huckleberry Finn in the classroom.

Essay on planning,preparing administering test Essay

Tests are formal assessment instruments that are used to judge student cognitive ability in an academic discipline as well as to gather information about students’ psychomotor performance. Tests usually consist of series of questions, statements, or tasks that are administered to a student or group of students. In order to develop a good assessment it requires proper planning, preparation and finally administration of the test. The development of a test that accurately measures student achievement requires careful planning. Planning for tests should start with an examination of student outcomes identified in the instructional objectives. An objective is a communication device that specifies the knowledge, skills, and attitude expected of students at the end of a lesson. Objectives also include 3 components- Conditions: identify what is available to students (resource material, circumstances etc.) .Performance: specify the desired measurable and observable student outcome (what the student will be able to do).Criteria: specify standards or proficiency for satisfactory performance. Develop test items-Test items are classified as objective or subjective. Objective test items (true or false, multiple –choice, matching, and completion) are easy to write and score and can sample large amount of content; however, they are limited to facts, encourage guessing and fail to measure higher levels of cognitive learning. Subjective test items allow students to express their thoughts and require demonstration of mastery of instructional objectives. Validity is the extent to which a test measures what it was intended to measure. Reliability provides an estimate of consistency of test results. All tests must be valid and reliable to accurately measure student achievement. Everything from student illness to testing environment can affect test validity and reliability. Planning test items-Test items should be assembled by type and increasing difficulty. Test items should also be checked for inconsistencies and follow a parallel format. Experienced test developers read the test for understanding and clarity prior to administration. Clear and concise test directions must be developed so students understand how, where, and when to provide responses. Administer Test-prior to administration, teachers should also consider the physical setting of the testing environment. Finally, teachers should also consider the psychological factors like anxiety and test pressure that affect students by explaining the reason for the test and adequately  preparing students for the test. Few points a teacher needs to keep in mind before administering test are-provide students with practice test items, indicate to students that you expect them to succeed on the test and that you are available to help them. Lastly discuss the parameters of the test. The entire procedure if followed by teachers and explained to students ahead in time, it is very much likely that the students will experience success. Thus, assessment should be an effort to move education forward and an exceptional tool that would give student an advantage in the classroom.

Analysis Of The Three Financial Models

IntroductionBankruptcy refers to the state of an individual who is unable to pay his or her debts and against whom a bankruptcy order has been made by a court. Such orders deprive bankrupts of their property, which is then used to pay their debts. Bankruptcy proceedings are started by a petition, which may be presented to the court by (1) a creditor or creditors; (2) a person affected by a voluntary arrangement to pay debts set up by the debtor under the Insolvency Act 1986; (3) the Director of Public Prosecutions; or (4) the debtor. (Smullen and Hand, 2003).If we assume that a corporation is a separate legal entity thus qualifying as a legal person, we can adopt the above definition to define bankruptcy in the context of the corporation or corporate bankruptcy as the state of a corporation that is unable to pay its debts and against which bankruptcy order has been made by a court. (Smullen and Hand, 2003).Analysis of the models for predicting bankruptcy.There are three main approach es to predicting bankruptcy which include: accounting analytical approach, option theoretical approach and the statistical approach. Becchetti and Sierra (2002: p. 2100).   Under the statistical approach corporate failure risk is analyzed through four widely known methods which make use of balance sheet ratios: linear or quadratic discriminate analysis, logistic regression analysis, probit regression analysis and neural network analysis.For the purposes of this paper we will limit our analysis to three basic financial models, which include the Z-Score model, the discriminant model and the Black-Scholes-Merton Probability. We also describe the application of these models in corporations.1. The Z-Score Bankruptcy Prediction ModelThe Z-score prediction model was developed by Altman in 1968. (Grice and Ingram, 2001: p. 53). The Z-score model applies multivariate discriminant analysis (MDA) and employs financial ratios as input variables to predict financial distress. (Tzeng et al, 200 7: p. 297). According to Grice and Ingram (2001: p. 53), Altman (1968) used a sample of 33 non-bankrupt manufacturing firms from 1946-1965. Grice and Ingram (2001) assert that despite the fact that the z-score model exhibit high accuracy rates using both estimation and hold-out samples, (95% and 84%), its generalizability to industries and periods outside of those in the original sample has received little attention.This model has be widely used in a variety of industries to evaluate financial conditions of firms and it is continuously being used in many business situations including bankruptcy prediction and other financial stress conditions. Grice and Ingram (2001) carried out a test on the z-score model based three basic tests which include the model’s ability to predict bankruptcy today as opposed to periods in which it was developed, the usefulness of the model in predicting bankruptcy in non-manufacturing as well as manufacturing firms and its ability to predict bankrup tcy in financial stress conditions other than bankruptcy.Their findings show that although the model is useful in predicting bankruptcy as well as other financial conditions, the models accuracy is significantly lower in recent periods than that reported in the original work by Altman (1968).Grice and Ingram (2001) also find significant differences in the model’s coefficients from those reported by Altman. Based on these findings, Grice and Ingram (2001) suggest that better accuracy can be achieved by re-estimating the model coefficients using estimation from periods close to test periods. In addition Grice and Altman (2001) find that the including non-manufacturing firms in the sample, further weakens the accuracy of the model.1.1 Application of the Z-Score modelCommercial banks use the model as part of the periodic loan review process; investment bankers use the model in security and portfolio analysis. It has been employed as a management decision tool and as an analysis t ool by auditors to assess their clients’ abilities to continue as going concerns (Grice and Ingram, 2001: p. 53).2. The Black-Scholes-Merton Model.According to Reisz and Perlich (2007) following from Black and Scholes (1973) and Merton (1974), the common stock of a firm can be seen as a standard call option on the underlying assets of the firm. It is assumed that shareholders have sold the corporation to creditors, and hold the option of buying it back by paying face value (plus interest) of their debt obligations. (Reisz and Perlich, 2007: p. 2). On the other hand, using put/call parity, we can see shareholders as holding the firm’s assets (bought after borrowing money from creditors) as well as a put option with exercise price equal to the face value equal to value of debt.(Reisz and Perlich, 2007: p. 2). In the event where the where the firm value is below the exercise price, that is, where the price of the firm is below the face value of the debt at maturity, share holders can freely work walk away without repaying their debt obligations. (Reisz and Perlich, 2007: p. 2). This is similar to selling the firm to the bondholers at the face value of the debt. (Reisz and Perlich, 2007: p. 2). Reisz and Perlich, (2007: p. 2) asserts that such an equity-based valuation model can lead to better bankruptcy predictions.In a study by Hillegeist et al. (2004), it was found that the probabilities of bankruptcy backed out from the a Black-Scholes-Merton structural model are up to 14 times more informative that ones inferred from accounting-based statistics such as the Altman (1968) Z-score. (Reisz and Perlich, 2007: p. 2). However despite the merits of this Black-Scholes-Merton model, it does not provide any rationale for observed managerial (bounded) risk choices. (Reisz and Perlich, 2007: p. 3). In addition, probabilities of default (PDs) coming from this framework are miscalibrated. (Reisz and Perlich, 2007: p. 3).3. The Mutiple Discriminant ModelMultiple discriminant analysis (MDA) is a statistical technique employed in the classification of an observation into one of several a priori groupings, dependent upon the observation’s individual characteristics. It is primarily useful in the classification and/or prediction in problems where the dependent variable appears in qualitative form for example, male or female, bankrupt or non-bankrupt. Therefore the first step is to establish explicit group classifications. The number of original groupings may be two or more.The MDA model is advantageous in that it considers the entire profile of characteristics common to the relevant firms, as well as the interaction of these properties. Conversely, a univariate study can only consider the measurement used for grouping assignments one at a time. Another important advantage of the MDA model is the reduction of the analyst’s space dimensionality.   When analysing a comprehensive list of financial ratios in assessing a firm’ s bankruptcy potential, there is reason to believe that some of the measurements will have a high degree of collinearity or correlation with each other. (Altman, 1968).3.1 Application of Multiple Discriminant ModelFollowing its first application in the 1930s, the MDA model has been used in many studies and disciplines. In its earlier days it was used only in Biology and behavioural sciences. Today, the model has been applied successfully in financial problems such as credit evaluation and investment classification. For example, Walter made use of the model to classify high and low price earnings ratio firms, and Smith applied the model in the classification of firms into standard investment categories.BIBLIOGRAPHYA market-based framework for bankruptcy prediction. Alexander S. Reisz and Claudia Perlich. Journal of Financial Stability, 2007, Pages 1-47.  A real-valued genetic algorithm to optimize the parameters of support vector machine for predicting bankruptcy. Chih-Hung Wu Gwo- Hshiung Tzeng Yeong-Jia Goo   Wen-Chang Fang. Expert Systems with Applications Volume 32, 2007 Pages 397–408  Ã¢â‚¬Å"Bankruptcy†Ã‚  Ã‚  A Dictionary of Finance and Banking. John Smullen and Nicholas Hand. Oxford University Press 2005. Oxford Reference Online. Oxford University Press.   Ã‚  http://www.oxfordreference.com/views/ENTRY.html?subview=Main&entry=t20.e278Bankruptcy risk and productive efficiency in manufacturing firms. Leonardo Becchetti and Jaime Sierra Journal of Banking & Finance,  Volume 27, Issue 11,  November 2003,  Pages 2099-2120Tests of the generalizability of Altman’s bankruptcy prediction model. John Stephen Grice and Robert W. Ingram. Journal of Business Research Volume 54, 2001 Pages 53-61.Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy. Edward I Altman. Journal of Finance, Volume 27, Issue 4, September 1968, Pages 589-689.

Different from, Different to, Different than

Different from, Different to, Different than Different from, Different to, Different than Different from, Different to, Different than By Maeve Maddox We all have our pet grammar peeves, usages that, when we hear them, affect us like the sound of a fingernail against a chalkboard. Ill bet Im not the only one who shudders to hear sentences like these: A boxer is different than a Doberman. This car is different to that one. Yet, are these usages really incorrect? According to the entry for different from, different to, different than at Bartleby.com, These three have been usage items for many years. All are Standard and have long been so (different to is limited to British English, however), but only different from seems never to meet objections. Elements of Style weighs in against different than: Here logic supports established usage: one thing differs from another, hence, different from. Or, other than, unlike. From H.W. Fowler comes this pronouncement: That different can only be followed by from and not by to is a superstition. He points out that writers of all ages have used different to. He does not mention the use of different than. It would seem, then, that any of the three is acceptable. Nevertheless, the concluding advice at Bartleby.com agrees with my own: for Formal and Oratorical levels: stick with different from. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:Creative Writing 10150 Synonyms for â€Å"Idea†25 Idioms About Bread and Dessert

Geography of Kuwait

Geography of Kuwait Capital: Kuwait CityPopulation: 2,595,628 (July 2011 estimate)Area: 6,879 square miles (17,818 sq km)Coastline: 310 miles (499 km)Border Countries: Iraq and Saudi ArabiaHighest Point: An unnamed point at 1,004 feet (306 m) Kuwait, officially called the State of Kuwait, is a country located on the northeastern portion of the Arab Peninsula. It shares borders with Saudi Arabia to the south and Iraq to the north and west (map). Kuwait’s eastern borders are along the Persian Gulf. Kuwait has a total area of 6,879 square miles (17,818 sq km) and a population density of 377 people per square mile or 145.6 people per square kilometer. Kuwait’s capital and largest city is Kuwait City. Most recently Kuwait has been in the news because in early December 2011 Kuwait’s emir (the chief of state) dissolved the its parliament following a protest demanding that the country’s prime minister step down. History of Kuwait Kuwait’s modern history began in the 18th century when the Uteiba founded Kuwait City. In the 19th century, control of Kuwait was threatened by the Ottoman Turks and other groups located on the Arabian Peninsula. As a result, Kuwait’s ruler Sheikh Mubarak Al Sabah signed an agreement with the British Government in 1899 that promised Kuwait would not cede any lands to any foreign power without Britain’s consent. The agreement was signed in exchange for British protection and financial aid. Throughout the early to mid-20th century, Kuwait underwent significant growth and its economy was dependent on shipbuilding and pearl diving by 1915. In the period from 1921 to 1950, oil was discovered in Kuwait and the government attempted to create recognized borders. In 1922 the Treaty of Uqair established Kuwait’s border with Saudi Arabia. By mid-20th century Kuwait began pushing for independence from Great Britain and on June 19, 1961 Kuwait became fully independent. Following its independence, Kuwait experienced a period of growth and stability, despite Iraq’s claiming of the new country. In August 1990, Iraq invaded Kuwait and in February 1991, a United Nations coalition led by the United States liberated the country. Following Kuwait’s liberation, the U.N. Security Council drew new borders between Kuwait and Iraq based on historic agreements. The two nations continue to struggle to maintain peaceful relations today however. Government of Kuwait Economics and Land Use in Kuwait Geography and Climate of Kuwait The climate of Kuwait is dry desert and it has very hot summers and short, cool winters. Sandstorms are also common during June and July due to wind patterns and thunderstorms often occur in the spring. The average August high temperature for Kuwait is 112Â ºF (44.5Â ºC) while the average January low temperature is 45Â ºF (7Â ºC). To learn more about Kuwait, visit the Geography and Maps of Kuwait on this website.

Leadership Analysis Essay Example | Topics and Well Written Essays - 1750 words

Leadership Analysis - Essay Example Covey) Habit 6: Synergize "Do I value different opinions, viewpoints, and perspectives of others when seeking solutions" (Stephen R. Covey) Habit 7: Sharpen the Saw "Am I engaged in continuous improvement in the physical, mental, spiritual, and social/emotional dimensions of my life" (Stephen R. Covey) As these seven habits are taken into the context of the business organization, the importance of how these habits transform into the business entity are best described by the Franklin Covey website as follows: The Habit Results Received from the 7 Habits Training Be Proactive Fosters courage to take risks and accept new challenges to achieve goals Begin with the End in Mind Brings projects to completion and unites teams and organizations under a shared vision, mission, and purpose Put First Things First Promotes getting the most important things done first and encourages direct effectiveness Think Win-Win Encourages conflict resolution and helps individuals seek mutual benefit, increasing group momentum Seek First to Understand, Then to Be Understood Helps people understand problems, resulting in targeted solutions; and promotes better communications, leading to successful problem-solving Synergize Ensures greater "buy-in" from team members and leverages the diversity of individuals to increase levels of success Sharpen the Saw Promotes continuous improvements and safeguards against "burn-out" and subsequent non-productivity How to Effectively Implement the Seven Habits Today's managers and business leaders tend to find themselves less apt at making a cohesive team of employees continue to be productive than at making business deals. The following is a table outlining how each of these habits can effectively be implemented as an up and coming... Any effectual manager will no doubt advise that the road to success has many pitfalls and danger signs for the team in an effort to be happy and productive. By incorporating Stephen R. Covey's "7 Habits of Highly Effective People" the path to such fortune can be paved in either gold or quicksand. The first segment of this paper will outline what these habits are as described by Stephen R. Covey to understand why these habits have actually been so effectual in anyone that takes on a leadership role. The following outlines what the seven habits are and a brief description as provided by Stephen Covey: As these seven habits are taken into the context of the business organization, the importance of how these habits transform into the business entity are best described by the Franklin Covey website as follows: Today's managers and business leaders tend to find themselves less apt at making a cohesive team of employees continue to be productive than at making business deals. The following is a table outlining how each of these habits can effectively be implemented as an up and coming leader of our organization: Take on projects that will seem risky at first in an effort to increase company re

Midterm Paper Essay Example | Topics and Well Written Essays - 2500 words

Midterm Paper - Essay Example Theoretically, leadership is explained as a process of influencing the society in which one can procure the assistance and the support of others in the procedure of accomplishing the desired outcomes through the common tasks. In simple words, leadership is all about the leaders those who mobilize others to get the job accomplished within the organization. It reflects the practices of the leaders which they perform to transform the values into the actions, the vision of the organization into realities, the obstacles within the work into the innovations and the risk factors into the rewards. As demonstrated by Bennis & Thomas (2013) in this context, it is the leadership that creates an atmosphere where the employees face the challenge and turn the challenging situations or the opportunities into the remarkable success. Initially, I used to perceive that leadership is all about steering people towards the determined goals. But, after going through the ‘crucibles’, I realize d that I had actually mistaken between management and leadership at the theoretical level where managers are bestowed with the responsibility to direct their staff through negative and positive motivations towards predetermined goals in the short run, but leaders pursue greater responsibilities towards the sustenance of the team focusing on shared values fundamentally focusing upon the long run performances of the overall team. Being motivated by the context of Bennis & Thomas, I went through various leadership case studies, where various organizational, political as well as social leaders were assessed on the basis of their leadership qualities and the corresponding achievements. In most instances, especially when reading about the modern day organizational leaders, I found that they attempt to find logical solutions to the problems encountered within the organization. The controlling power and the directing power possessed by these leaders have been further observed to reward them with a height in their achievements which has also been addressed in the discussion of Bennis & Thomas. According to my learning, intellectual analytical skills are quite essential for leaders to perform in the increasingly competitive environment of the 21st century wherein Bennis & Thomas reveals that leadership concepts and approaches have changed over the past few decades. This is when I realized that leadership is not at all an easy task and I needed to develop my skills immensely to reach the level already benchmarked by these leaders. In accordance with the above scenario a drastic change came to my perception not only regarding my competencies as a leader but also regarding my approach towards life. This particular experience or learning exposed the underneath values and beliefs related to the leadership qualities and theories that were inherited in my mind. The article by Bennis & Thomas focuses on the leadership practices in automotive industry which has recently been wit nessed strong effects from economic downturn and high degree of fluctuations in the customer buying behavior within the worldwide context. Presenting an interesting scenario, the authors successfully draws the attention of the readers about leadership that such skills can be developed through regular life experiences as well. In fact, learning and developing leadership skills through experiences has been argued as a more effective procedure or rather the most essential quality of an effective leader as argued in the