Sustainable Management Futures Essay Example | Topics and Well Written Essays - 3000 words - 7

Sustainable Management Futures - Essay Example Hence, there was considerable opposition from developers of the resort as the scenic splendour The company can adopt the policy of maximum pollution, which can be evaded under the law of South Carolina, in order to maximise the company’s revenues as well as create adequate job opportunities in the concerned area. Then again, this policy will affect aesthetic quality of the environment and hamper business of the resorts in Hilton Head by way of attracting lesser visitors (Taylor, 2011). Long-term effects of pollution are very hard to determine and BASF’s past experiences in other countries, where they had polluted rivers, did not help them with a buoyant feeling. As a result, development of the factory had become more of a moral issue than a business one. In order to solve the moral issue, the researcher proposes that the BASF’s manager had three options. He can either build the factory with the least pollution control or maximise the pollution control or further still, he can choose to not build the factory at all. The first option will yield a tolerable amount of water pollution, huge company profits, satisfied shareholders and extremely antagonistic resort developers as well as greater employment opportunities. The second option, on the other hand, would yield low profits for the company, unsatisfied shareholders, minimal pollution, welcoming developers and high costs incurred so as to implement pollution control measures. The third option would have approval of the developers, yield no profits, incur costs so as to search for a new location and also disappoint the local residents who were in support of the industrialisation. The best course of action in such a case would be to weigh all the options, analyse the environment and organisational benefits and come up with the best possible or optimal solution that would benefit all. Both the manager and the company were confronted with a number of duties and obligations. The organisation management

Dorothy Smith Essay Example for Free

Dorothy Smith Essay Dorothy Smith was born in North England in 1929. At a young age she did various jobs as a secretary before realizing that she needed to study in order to get a well paying job. In the early 1950’s she studied at the London School of Economics where she specialized in sociology. In 1955 Dorothy moved to the University of Berkeley where she got her doctorate. (Gardiner 180). While at Berkeley, she was exposed to sociological thinkers like Mead, Irving Goffman and Merleau. For two decades up from 1950, Dorothy was involved in many leftist organizations and attended various anti war demonstrations. She divorced her husband when her second son was nine months and faced many difficulties and challenges raising them. (classiques. uqac. ca). During her times, there was an outright gender discrimination against women. She sought the Marxist ideologies to explain the on goings and she clearly realized the differences in power on the lines of gender in the society. To her, males dominated the most important sectors like education, politics, medical as well as the economic field. This way, the female gender was marginalized and their interests and aspirations suppressed. (Gardiner 180). Dorothy graduated in 1963 after which she went into teaching in Berkeley, Essex and British Columbia. She continued with her institutional ethnographic studies after her retirement. As one of the renowned feminists, Dorothy argued that the society was male dominated, with the laws and the existing legal structures being highly patriarchal. Her research therefore focused on how men who had the power in economic terms dominated women. She also argued that even the religion was male dominated and the women were the ‘dormant gender’ whose voices were rarely heard. (Gardiner 180). To her, the domination was so severe that some women would end up using male figures. For instance, a female author would use a male name probably to attract an audience. The male dominance had been made universal and it appeared as if the women’s fate had been sealed. In education, women were denied formal education as well as positions; an example is in medicine where the society accepted male dominance as universal. Again, those seeking education in the male dominated schools would be influenced by the system. Most references in the schools portrayed male as the dominant gender and the female related studies were poorly funded or dismissed as of less importance. (classiques. uqac. ca). Institutional ethnography was a form of sociological inquiry introduced by Smith to explain how social relations influenced people’s everyday lives. The sociology for the people encompassed all people in the society and tried to establish the contradictions between people’s experiences in their every day lives as well as the way their social relations were organized. (Smith 1-6). Their approach differed from other theories in the sense that it placed more emphasis on people’s experiences rather than the predetermined social relations in the society. To illustrate her theory, she carried out various researches like the effect of single mothers and schooling of their children as well as alienation of middle class managers and the role their wives played. Smith and a colleague in the teaching career, Alison, researched on single parents and their effect on the education of their children. This â€Å"research focused on the socially organized processes which structured some families as different in the schooling environment. †(Smith129). Single parenthood was deemed as a social problem. Such parents were viewed as ineffective especially in bringing up children due to the purported negative influences on the children’s emotional development as well as their long term behaviors (Smith 130). Dorothy and Alison critically analyzed the existing literature on single parents. They established that most of what was depicted in the media was very different from what was happening on the ground. The media was a reflection of the works of some professionals such as teachers, administrators as well as social workers but it had an overall effect on the society. (Smith 137). Their research clearly explained the variances between what is depicted in the media (literature) and what actually happens. In her article, women, the family and the corporate capitalism, Dorothy tried to establish the alienation of a middle class manager and the role played by his wife to reinforce the man’s alienation. To Smith, the middle class manager was different from the working class man whose alienation was more to the ownership of the means of production as opposed to the woman who was a ‘personal service to him’. Smith established that when the man ceased to provide for his family the relationship changed, a clear indication that male dominance is highly correlated to the economic dependence which is an external force as neither of them has control over it. To Smith, â€Å"monopoly or the corporate capitalism alienated both the men and women of the middle classes while eliminating the socio economic basis for an autonomous selfhood for women†. (Sydie Adams 560). To Dorothy, there was a general consent of how laws, courts and welfare agencies helped enforce certain understandings of how the entire world was expected to work. The prevailing understanding seemed to favor men at the expense of women and there was a general association of women and child bearing. Dorothy made a major contribution to sociology as it is today. In her new sociological inquiry, she advocated that researchers be on the same critical plane as the subject of the research. Here, researchers were to look deeper rather than just the objects of the research if their research was to be effective. Conducting research in the traditional way would not reveal how the object was constructed or what it consisted of when relating it to the social relations that affected peoples every day lives. Although women problems demanded for a sociological explanation as their experiences created problems, their experiences alone would not suffice to offer solutions. Their experiences would be as a result of the social, political as well as the economic organization. Dorothy’s work made sociologists especially the researcher focus on the factors that influence people before making final conclusions as people’s experiences alone would be effectively addressed by monitoring their social relations in everyday activities. To Denise and Cheryl, in their extinguished book nursing research, Dorothy Smith’s ‘institutional ethnography’ has been applied in various fields such as nursing, social work, and community health as well as in the study of professional services. It focuses on the social organization as well as the institutional work processes and consequently the outcome of the research plays a significant role in the establishment of organizational changes as the real problems are established. (Polit Beck 227). Like other feminist theorists, Dorothy posits that sociology as well as other social science disciplines was constructed by males in the highly patriarchal society. To resolve women problems would therefore only be successful if the female stand point was considered. Smith used the Marxism approach and highlighted the aspect of alienation, capitalism as well as the economic aspects in the society. To her, there was need to focus more on the alienated in the society, these being women as well as other groups who were oppressed. (uregina. ca). To Dorothy, there was a need to research more on people’s experiences as well as situations as what was present in the prevailing literature was inaccurate in explaining their actual fate. As Johnson in ‘contemporary sociology theory’ noted, Dorothy Smith’s ideologies could differ from those of other feminist theorists. Some feminists unlike Dorothy tried to show how variations on the lines of racial or class backgrounds as well as sexual orientation intersected with gender bringing about different experiences across the various categories of women. This is to say that other feminists considered other factors and their role in influencing the plight of women rather than focusing strictly on male dominance in addressing the problems of women. Location was also another issue considered as it was clearly established that women from different regions say the developed world would experience different issues or problems as opposed to those in the less developed countries. The contemporary sociologists will therefore incorporate such variations in their studies. (Johnson 432-3) Major concerns that can be raised against Dorothy’s work are the overemphasis on the male dominance in the society. The queries here are that sociology is not always related with the ruling or power games in the society. (uregina. ca). Her argument that sociology as well as other social sciences had been established by man, the dominant gender in the society, is therefore untrue as in most cases sociology seeks to establish the social problems in the society, an example being the plight of immigrants as well as the poor in society. Dorothy emphasized on every day experiences or situations in relation to the social relations that one had. Critics would argue that she underestimated the inner self or being of people which also has a role to play in influencing who they are. She also failed to explain the role played by other groups in the society and only focused on male and their dominance. (uregina. ca). Works Cited: Adams Bert N and Sydie Rosalind Ann. Sociological Theory. Pine Forge Press, 2001 Dorothy E. Smith. retrieved on 29th April from http://classiques. uqac. ca/contemporains/smith_dorothy/smith_dorothy_photo/smith_dorothy_photo. html Feminist Standpoint Theory – Dorothy Smith. Retrieved on 29th April from http://uregina. ca/~gingrich/319m2206. htm. Gardiner Michael. Critiques of everyday life. Routledge Publishers. 2000 Polit Denise F and Beck Cheryl Tatano. Nursing research: principles and methods. Lippincott Williams Wilkins Publishers. 2003 Smith Dorothy E. Institutional ethnography as practice. Rowman Littlefield Publishers. 2006

Feminine Sexuality in The Storm Essay -- Kate Chopin

Kate Chopin's short story 'The Storm'; describes an encounter of infidelity between two lovers during a brief thunderstorm. The story alludes to the controversial topic of women's sexuality and passion, which during Chopin's time no one spoke about much less wrote about. So controversial was 'The Storm,'; that it was not published until after her death in eighteen ninety-nine. The story is broken up into five sections, each filled with small clues and hints that reflect her message. In short, Kate Chopin's 'The Storm'; is about a confirmation of feminine sexuality and passion and a rejection of the suppression of it by society. The title of 'The Storm'; gives the reader a peek into the underlying meaning of the story. It obviously portrays feelings of sexual energy, passion, and explosiveness, but the storm refers to nature, which historically has a feminine association. The storm takes on the personification of a deep, rumbling cloud of feminine sexuality and passion waiting to explode. Throughout the story, the intensity of the storm is symbolic of the intensity of Calixta's passion. At the onset of the story, Chopin subtly exposes the idea that women of the time are expected to repress their feelings of sexuality and passion. The scene is set as Calixta is attending to household chores unaware that a storm is imminent. Chopin writes, 'She sat at a side window sewing furiously on a sewing machine. She was greatly occupied and did not notice the approaching storm. She u...

Contemporary society Essay

Perhaps the most poignant criticism of the societies in these two novels is the violation of the principals and mores of modern society. In â€Å"The Wars†, death and injury becomes common place, and stopping to help a fellow soldier is not always permitted. â€Å"That was the rule. No one went back- even for a dying comrade. Only someone wounded could stay with another wounded man†¦ No one spoke. The dead all lay with their faces in the mud or turned to the walls of the trench. This was the only way they could be told apart from the wounded.† (Findley 118) More difficult to accept that this apathetic view of death is the enthusiasm that some of the soldiers in â€Å"The Wars† felt for the war and the destruction it caused. After being rained on with shells, having a close brush with death, â€Å"a bright young man with popping eyes turned to Robert and gushed at him: ‘Isn’t it marvellous!’ † Privacy is nearly impossible for ordinary soldiers. While on the boat, going to England the men â€Å"were cramped into spaces meant to hold a quarter of their number†¦ The make shift latrines and showers were virtually open forums where privacy was unheard of†¦ Up in the first class accommodations, the officers were somewhat better off.† (Findley 56-7) This also shows another disadvantage soldiers face that their superiors do not. Sexual abuse is seemingly common and goes unpunished in the novel. Four men rape Robert while his is in a changing stall at Asile Desolà ¯Ã‚ ¿Ã‚ ½. â€Å"His assailants, who he’d thought were crazies, had been his fellow soldiers. Maybe even his brother officers. He’d never know.† (Findley 169) Many aspects of the society in â€Å"The Handmaid’s Tale† also contrast modern societal values. Dead bodies are put on display for all to see. When on their daily walk Offred and Ofglen, â€Å"stop, together as if on signal, and stand and look at the bodies. It doesn’t matter if we look. We’re supposed to look: this is what they are there for, hanging on the Wall. Sometimes they’ll be there for days, until there’s a new batch, so as many people as possible will have the chance to see them.† (Atwood 40) Death does not have much shock value to individuals in the Gileadean society, as they have been exposed to it frequently. The Handmaids take part in the execution of a man who has performed crimes against society. â€Å"There is a surge forward, like a crowd at a rock concert in the former time†¦ Now there are sounds, gasps, a low noise like growling, yells†¦ he’s obscured by arms, fist, feet. A high scream comes from somewhere, like a horse in terror.† (Atwood 349) These women, who are not violent in every day life, are so desensitized to death that they are able to vent their anger through murder. Rape is common with the Gileadean society, although it is not recognized as such. Handmaids are required to copulate with their Commander, if the choose not to, they will be sent to the Colonies. With citizens being desensitized to death, enjoying killing and destruction, and the acceptance of sexual exploitation, the societies in â€Å"The Wars† and â€Å"The Handmaid’s Tale† transgress the morals of contemporary society. â€Å"The Wars† and â€Å"The Handmaid’s Tale† take place over dissimilar time spans, there are many societal parallels that are criticized in both novels. Soldiers are exploited by their superiors in â€Å"The Wars†, just as the unprivileged citizens in â€Å"The Handmaid’s Tale† are used solely to benefit the government. Ignorance to the true motivations and actions of the government are evident in both novels. Social mores and values of present-day society are infracted in both â€Å"The Wars† and â€Å"The Handmaid’s Tale†. Regardless of occurring over different time periods, there are several analogous aspects in the two societies represented in â€Å"The Wars† and â€Å"The Handmaid’s Tale†, which are criticized.

Early Childhood Trauma Lives on in Adulthood Essay

Abused children eventually become problem adults who are a burden to society. Recent studies reveal the significance of parenting in the cross-generational transmission of aggressive or problem behavior up to three continuous generations. Stable evidence has long recognized and documented the negative effects of aggressive or harsh and inconsistent parenting and identified the need for interventions that would foster better parenting skills. These new findings provide the direct link between the incidence of child abuse and the emergence of problem behavior later in life. Child abuse may be physical, emotional, sexual or through neglect. Child Protective agencies received and investigated three million reports of maltreatment of close to four million children in 1999, 54% of which were due to neglect. But because most of the victims were too young and too afraid to speak out, these agencies believed that the actual incidence was greater than reported. While it occurred in all social, ethnic and income groups, child abuse was most common among poor, under-educated and dysfunctional families and committed mostly by parents themselves who were young, unmarried or separated, lonely and coping with life’s stresses but not criminal or psychotic. Un-addressed incidence of child abuse increases the risk of criminality, academic failure and failed social relationships in later life. Present literature presents conclusive findings that parent-toddler relationship directly affects the toddler’s problem behavior, with deviant or aggressive maternal behavioral attitudes crossing and spanning three continuous generations from grandmother to the child . A study offers significant evidence that angry, aggressive parenting strongly influences the development of aggressive behavior in adolescence through social learning and often results in unsatisfactory romantic and marital relationships and conditions. Findings also show that financial distress and improper parenting produce problem behavior n children and that poor or injurious maternal attitudes lead to it. Antisocial and violent behavior in children and adults is also seen as the consequence of birth complications and certain biological factors when combined with a negative home atmosphere. Family relationships strongly affect a child’s self-esteem and the impact often remains through life. Collusion among siblings also contributed to the development of faulty behavior in children who were abused at home. Boys were more affected by peer rejection and girls, by low academic performance Abused preschoolers often came from low-income families and exhibited at least one antisocial behavior each day in class. Most of these children were African-American who suffered from guilt and self-blame but most mothers of both problem and non-problem children viewed their children in similar ways . Popular myths conduce to wrong beliefs and must be guided by scientific knowledge. And despite much knowledge and effort, there remains the need for consistent and thorough mechanisms that will confront the issue and arrest the causes or conditions in preschool age right at the family and in the community. Subjects and participants in the studies included parents of children with problem behavior, adolescent parents, grandmothers of problem children, other family members with a target child at high risk for sibling collusion, mothers of non-problem children, respondents to 39 studies of biosocial interactions, demographic sub-groups (such as African-Americans) and normative samples of preschoolers exhibiting antisocial behavior. Child mistreatment or abuse can be physical, emotional, sexual or in the form of neglect. Neglect was the most common type and the perpetrators were mostly parents who themselves were abused as children. Irritable and aggressive parenting led children to grow up into unstable, under-controlled adolescents and adults with troubled relationships, families and parenting in later life. This type of parenting passed from the first to the third generations through the behaviors of the children who learned and engendered them mainly from their mothers’ own behaviors. This antisocial behavior that began from home increased the risk of criminality, academic failure and social relationship problems. Financial stress had a strong impact on parenting quality that transmitted antisocial behavior from generation to generation Four studies directly showed and reinforced earlier findings of this intergeneration transmission, demonstrated by preschoolers at least once daily in class. These preschoolers came mostly from low-income families, most boys influenced by peer rejection and most girls, by low academic performance. Sibling collusion and biosocial factors aggravated and reinforced the formation of antisocial behavior from children who were abused. Mistreated African-American children experienced more guilt and self-blame than Caucasian children. Common beliefs about children’s misbehavior also clashed with scientific knowledge. All conditions pointed to the need for adequate mechanisms of early intervention that would consistently and thoroughly address the problem or question at the crucial preschool age of children . Child abuse is the physical, sexual, emotional mistreatment or neglect of a child. About half of all cases of child abuse involve neglect, committed most often by the child’s own parents, other family members and caretakers, such as teachers, babysitters, other children or even strangers. Once viewed as a minor social problem, child abuse caught closer notice from the media, law enforcers and professionals and, since then, figures began to go up. But authorities claimed that actual figures could only be higher than these, because abuses on children were more often hidden and the victims were too young and too afraid to report the crime. Child protective agencies investigated three million reports on the mistreatment of nearly four million children in 1999 and found that 54% of these were cases of neglect. They also discovered that a child was often a victim of more than one form of abuse, that it occurred more in low-income than high-income families with little education, among young mothers, single-parent families and in families where the parents were alcohol or drug-dependent. Investigations revealed that 90% of these parents, however, were neither criminal nor mentally unstable, but were lonely, young, single parents with unwanted pregnancies. Some or many of them were themselves abused as children, but statistics show that most abused children did not grow up to become abusive parents. Behavioral experts pointed to the lack of parenting skills, unrealistic expectations of children’s behavior and capabilities, social isolation and family conflicts as additional factors that contribute to child abuse, which they perceived as the parents’ coping response to their situation. The agencies’ 1999 investigations showed that 75% of perpetrators were the parents themselves and those involved in the care of these children. Physical abuse is the deliberate bodily injury on a child, most often a male (Black 2004). Earlier studies showed that 24% of all confirmed cases of child abuse were physical. The abuse is sexual if the child has not yet attained the age of legal consent and the abuse is performed for the sexual gratification of the abuser. The act may include sexual touching, intercourse, exposure of sexual organs or viewing pornography. In many sexual child abuse cases, the abuser was not a stranger or related to the child and one in five was under the age of legal consent himself or herself (Black). Reports also said that 20-25% of the cases were female and 10-15% were male who were sexually violated by age 18 (Black). Emotional abuse, on the other hand, consists of acts of rejection, ignoring, criticizing, isolation, or terrorizing of a child, which results in his or her loss of self-esteem. These are verbal assaults, which reject, belittle or use a child as a â€Å"scapegoat. † Emotional abuse is the least reported because it often accompanies the other types and the hardest to prove And neglect is the failure to provide for the child’s basic needs, whether physical, emotional or the lack of sustenance. Neglect accounted for 52% of all investigated reports of child abuse in 1996. Abusive parents physically afflict their child when they lose control even for normal actions like crying or a change in diapers. Non-abusive parents may at times get angry or upset, but remain genuinely loving, in contrast with abusive parents who harbor deep-seated hostility towards the child. Physical abuse can be suspected with the common signs, such as burns, bruises, bone or skull fractures. Death from physical abuse, such as the shaken baby syndrome, was among the leading causes for children less than a year old. Studies revealed that physical abuse changed children’s behavior in many ways. Psychological experts maintained that sexual abuse constituted sexual arousal in a child and the child’s willingness to act on it, conditioned by alcohol, drugs or the misconception that there was nothing wrong about the act. There were greater chances of sexual abuse if the child was developmentally disabled or vulnerable some way. This type of abuse was often discovered when genital or anal injuries or abnormalities, including the presence of sexually transmitted disease, were noticed in a child. Behavioral signs included anxiety, poor school performance, suicidal tendencies or attempts, excessive masturbation and an unusually sexualized behavior often gave sexual abuse away. Emotional abuse was often detected with the loss of self-esteem, sleep disturbance, headache or stomach ache, school absenteeism and leaving home. Neglect develops from a parent’s negative feeling towards a child or the parent may truly care but is unable to provide for the child’s needs because of the parent’s depression, drug dependence, mental handicap or other problems. Findings said that neglected children did not receive sufficient nourishment or emotional and mental stimulation and this lack hampered their normal physical, social, emotional and mental development. Underweight, delayed language skills and emotional instability were among the consequences. Doctors, social workers, other professionals, child welfare agencies and the police conducted physical and psychological examinations and interviews of abused children. Reporting to the authorities, treating the child’s injuries and protecting him or her from further harm were primary measures in child abuse cases. These authorities could then evaluate if moving the child to another willing and qualified relative or a foster family would be in the best interests of the child, whether long or short-term Further investigation could reveal that the child’s siblings were abuse victims themselves, as reports found that about 20% of siblings were child abuse victims themselves. These children wre observed to perform poorly in school, develop antisocial personality or behavior, or turn to drugs or alcohol, try suicide or become emotionally unstable in adulthood. Parents’ mistreatment or abuse of their own children leads these children to form antisocial or problem behavior as adolescents and as adults. Previous and recent studies presented substantial evidence that angry, abusive and aggressive parental behavior spill over to these children up to three generations through social learning. These behaviors, therefore, directly influence the different social behaviors and relationships of their children in adolescence and adulthood. Parents’ anger, hostility or emotional support essentially determines if a child will be a supportive or rejecting adolescent. Hostility towards parents and an adolescent conclusively predicts problematic romantic and family relationships later in his or her life. These latter studies also demonstrated that parenting in the first generation directly affected the bond between parents and child, one of the most important human bonds in life. This study offered evidence of intergenerational continuity wherein aggression in youth is often followed by aggressive parenting. That kind of parenting, in turn, appears to contribution to aggression in children. This particular study expounded on the utter significance of parenting in the intergenerational transmission of antisocial or problem behavior. It also explained how normative approval of aggression, aggressive fantasies and verbal aggression maintain aggressive behavior through time. Still another study focused on the transmission of problem behavior from parents to toddlers, its appearance in preschool and how it affects academic performance. It found that the characteristics of parent-child relationships tended to continue or replicate themselves across generations. It showed that a grandmother or mother who was cold or dissatisfied exercised inappropriate control, which was characterized by conflict. This behavior model was copied by adolescent children who repeated it towards their own. The study added that the kind of behavior the grandmother towards the parent increased the probability of impulsiveness, rebelliousness, irresponsibility and other psychological problems in adolescent and the eventual parent-child relationship. This last study likewise explained how hostile maternal behaviors go through a cycle of intergenerational continuity. It suggested that aspects of parent-child relationships passed from generation to generation. They, thus, served as direct models of behavior and indirectly influenced the development of personality traits, which characterized the relationship. Parent-child relationship was an important mediator between the parents’ characteristics and those of the child. The study suggested that reducing the risk of transmission in the first two generations would reduce the risk between the next two. The search for the connection between early childhood trauma or child abuse and the development of problem behavior later in life brought to light significant evidence of social and biological processes, which appeared to predispose children to antisocial behavior. This included of birth complications, a negative home environment of violence, hormones, neurotransmitters, toxins and drugs as having an impact on the development of problem behavior when the home environment or relationship reinforced their biologic effect. Still another study examined the level of intergenerational transmission and how financial distress and the parenting style affected the transmission. From interrogations and observations, it found that antisocial behavior of both parents had similar impact on their children and that parents who were more consistent and warm had lower development levels of antisocial behavior in their children. Fathers’ antisocial behaviors and mothers’ parenting had the strongest effects on children’s latter development of problem behavior and improper parenting style. Parallel studies discovered that preschoolers from economically disadvantaged families had a higher risk of developing antisocial behavior. The studies on preschool respondents said that 30% of those with misbehavior belonged to lower economic classes as compared to only 3% to 6% in higher economic classes. The preschoolers from lower economic classes also tended to develop lower or slower language ability levels and poorer social skills. They also developed bad temper and temperament, which would become worse when their families confronted financial stressors and limited resources. # BIBLIOGRAPHY Black, B. (2004). Child abuse. 4 pages. Encyclopedia of Nursing and Allied Health: Thomas Gale Brook, J. S. , Whiteman, M. , & Zheng, L. (2002). Intergenerational transmission of risks for problem behavior. Journal of Abnormal Child Psychology: Plenum Publishing Corporation Conger, R. D. , Neppi, T. , Kim, K. J. and Scaramilla, L. (2003). 20 pages. Angry and aggressive behavior across three generations: a prospective longitudinal study of parents and children. Journal of Abnormal Child Psychology. Plenum Publishing Corporation Dubow, E. F. (2003). Theoretical and methodical considerations in cross- generational research on parenting and child aggressive behavior. 10 pages. Journal of Abnormal Child Psychology. Plenum Publishing Corporation. Fiorello, C. A. (2001). Common myths of children’s behavior. 4 pages. Skeptical Inquirer: Committee for the Scientific Investigation of Claims of the Paranormal Fox, L. (2002). Early intervention, positive behavior support, and transition to school. 31 pages. Journal of Emotional and Behavioral Disorders. Pro-Ed, Inc. Lewin, L, Davis, B. and Hops, H. (999). Childhood social predictors of adolescent antisocial behavior: gender differences in predictive accuracy and efficacy. 20 pages. Journal of Abnormal Child Psychology. Plenum Publishing Corporation. Qi, C. H and Kaiser, A. (2003). Behavior problems of preschool children from low-income families. 82 pages. Topics in Early Childhood Special Education: Pro-Ed, Inc Raine, A. (2002). Biosocial studies of antisocial and violent behavior in children and adults. 20 pages. Journal of Abnormal Child Psychology: Plenum Publishing Corpora

Abortion View Jane English essays

Abortion View Jane English essays The argument which I most concur with is Jane Englishs Abortion and the concept of a person. Her argument highlights moral psychology by suggesting using the pregnant womans point of view. Allowing her to choose to preserve her life by terminating her pregnancy. The approach taken by English is a mostly rights oriented, allowing the woman to make the decision to have an abortion. During the article she also states that utilitarian theory does have some merit, but the traditional approach can be rigged to make consequences of actions limited. Englishs conclusions are that an agreed upon definition of the concept of a person will not end the abortion debate. English states, our concept of a person is not sharp or decisive enough to bear the weight of the abortion controversy. She arrives at this conclusion by reviewing the theories. Mary Anne Warrens five-feature theory, Michael Tooley having a concept of self, Paul Ramsey gene structure and John Noonans conceived of humans. She touches on each of these theories, which show the broad range of views on the concept of a person. She also uses the history of this argument providing examples of Muslims, European common laws beliefs of the definition of a fetus to back up her view. Her second conclusion is the self-defense model, this states that in it is acceptable to use whatever means necessary to protect yourself. The example she gives is that of one who is hypnotized and stands to lose everything that he is known, his career, his personal relationships and his happiness. Upon examination a pregnant woman may face the same type of issues and feelings. Being unable to provide a loving home environment, financial support essentially what the mother views as the ideal environment to raise a child. As well other concerns for example fear personal relationships may suffer, inability to complete education in addition to career p ...

William Gladstone essays

William Gladstone essays A sophisticated rhetorician, inebriated with the exuberance of his own verbosity, and gifted with an egotistical imagination that can at all times command an interminable and inconsistent series of arguments to malign an opponent and to glorify himself, once said by Benjamin Disraeli, a former Prime Minister of England and competitor of William Gladstone for the position. He also stated ,He has not one single redeeming defect. William Gladstone was a very successful and caring man. This was shown through his work and family life. On May 19th, 1898 Gladstone died at Hawarden. He was then buried in Westminster Abbey. William Ewart Gladstone was son of John Gladstone a very wealthy man. John Gladstones1828 fortune would be worth a modern 25 million pounds. He had gotten this from his early Liverpool days when he was primarily a corn trader that brought him to the Mersey the skill which he had developed in Leith, and he also made mostly Baltic purchases. He then became a partner of the East Indian house, which dealt with mainly subcontinents, and coming up against the restrictive privilege of the East India Company. In 1843 he turned himself from a merchant adventurer into a rentier. The West Indies stake was down and his shareholdings were up. Sugar was the core of his West Indies activities, but tobacco and cotton were also important. He did not trade in slaves, even before the slave trade was outlawed in Britain in 1807. However, The plantations he operated were under slave labour throughout his time as a West Indian magnate. In 1818 John then became a member of Parliament. His career in Parliament never prospered due to starting at the age of fifty-four. He also had to buy his favors, and failed to make neat William Ewart Gladstone was born in Liverpool on December 29th, 1809 and was the forth son of Sir John Gladstone and his second wife ...

Saluer - to greet, salute - French Verb Conjugation

Saluer - to greet, salute - French Verb Conjugation The  French verb  saluer means to greet or salute  but can also mean  to take ones leave. Find simple conjugations for this regular -er verb in the tables below. Conjugations of Saluer Present Future Imperfect Present participle je salue saluerai saluais saluant tu salues salueras saluais il salue saluera saluait nous saluons saluerons saluions vous saluez saluerez saluiez ils saluent salueront saluaient Pass compos Auxiliary verb avoir Past participle salu Subjunctive Conditional Pass simple Imperfect subjunctive je salue saluerais saluai saluasse tu salues saluerais saluas saluasses il salue saluerait salua salut nous saluions saluerions salumes saluassions vous saluiez salueriez salutes saluassiez ils saluent salueraient salurent saluassent Imperative tu salue nous saluons vous saluez Verb conjugation patternSaluer  is a  regular -ER verb

Administration of Medicines 3 Essay Example | Topics and Well Written Essays - 1750 words

Administration of Medicines 3 - Essay Example f nurses’ and midwives’ professional lives regulated by the NMC are education, conduct, registration, supervision, allegations and ethical issues (Benner et al., 2009. P. 243). It is thus of the essence that student and practicing nurses and midwives ensure that all the latest NMC regulations are observed and standards attained. For instance, in 2004, the NMC set standards for education, which require nurses and midwives to attain the right level and types of skills, proficiency and qualities prior to their being absorbed into the industry. Besides the initial education, the NMC also set standards for nurses and midwives to develop their careers once absorbed into the industry. This continuous training and involvement in learning activities not only help nurses and midwives to sharpen their skills and competencies but also ensure their skills do not lag behind. One benefit of attaining the NMC standards of education and efficiency is to enable a nurse or a midwife to register with the NMC, which is the organ mandated to keep the register of all midwives and nurses in the United Kingdom. It is only by being registered that a nurse or a midwife may operate legally in the United Kingdom. To be registered, nurses and midwives must therefore meet the education standards, pay the annual fee and update their skills. The other function of the NMC, which nurses and midwifes must observe is supervision. During these organised supervisions, it is imperative that nurses and midwives prove that their work is supervised and meets the set standards to qualify for registration with the NMC. The NMC also deals with any issues and allegations rising within the nursing and midwifery professions in the UK, especially allegations that one does not meet the set professional standards and skills relating to education, supervision and work ethics. From these func tions of the NMC, it is obvious that student and professional nurses and midwives should endeavor to attain the set

Discussion Questions Essay Example | Topics and Well Written Essays - 500 words

Discussion Questions - Essay Example I prefer change, I enjoy delegating tasks to others, and I want to be noticed for my achievements. I am also the type of person who likes to be in charge. I tend to look forward to confronting conflict instead of shying away from it. I consider myself to be a proactive person, with a proactive personality. â€Å"Proactives [with proactive personalities] identify opportunities, show initiative, take action, and persevere until meaningful change occurs. Proactives are more likely to be seen as leaders and to be change agents. They†¦[definitely can] achieve career success, but it’s important for them to be in the right situations to fit their personality.†1 As a proactive person, I seek to be the first to engage in an issue and take it head-on. Instead of waiting to figure out what is going to happen, I make sure that I make things happen. I change and influence what happens around me by being involved. In all situations, I try to stay proactive and interested as a pa rticipant in my surroundings. It’s evocative of a dominant person’s personality traits; I am no different. 2) How do ethics influence human behavior in organizations? (250 words) Ethics influence human behavior because humans’ actions are inevitable affected by dogma and rules. If there were no rules or ethical standards, people would do whatever they wanted. However, ethics give order to the chaos.

What can the trial of Socrates teach us about the ethics of democratic Essay

What can the trial of Socrates teach us about the ethics of democratic citizenship - Essay Example He defended his ideas against critics who tried to challenge him to prove them. Many people were surprised with amount of audacity and confidence he showed even at a time his was threatened. He never doubted his intellectual wit and his philosophical findings. He surprised many people in his country and across the world when he rather chose to die but not change his philosophical ideas he had invented (Hiley, 66). The life of Socrates and lesson people learned from his trial that led to his death is clearly discussed. The effects of his trial to the current ethics of democratic citizenship is discussed and broadly evaluated. The trial of Socrates is firmly written the books of history because it had a great impact on the modern and ancient history of philosophy. He was one of the best and popular philosophers during his time. The citizen of the Athens arrested Socrates and brought him to judgment after hearing his philosophical findings. A big number of the people did not agree with the way he reasoned about life and they felt that they were being offended with such sayings. They called him to council of about five hundred citizen to face charges that were against him. The person to record the proceedings of the court process was Plato, his former student whom he had taught. Athenian law required the suspect to gather his own defense and present them on the floor, and one was required to gather his/her family to come and give emotional support. Socrates never allowed his family to step to the courtroom arguing that they make him lose concentration. After several court sessions, the acting judges who included Meletus, Lycon and Anytus found and ruled that Socrates was guilty. They ruled that he was influencing and corrupting the minds of the youths. He faced death as punishment to his crime, and his friends watched helplessly as drunk hemlock that was prepared for him. The citizens of Athens were surprised by the way he strongly defended his philosophical ideas and courageously faced death. His death brought a great impact in the world of ancient philosophical history. The Socrates trial and death has many lessons that can be learned from the ethics of a democratic citizen. There are democratic virtues that Socrates had, and they include eternal skepticism, which a citizen is allowed to have a broad and open dialogue on views commented by other citizens. The other democratic virtues are ability to participate and demonstrate without being brought to judgment (Talisse). Historians remain puzzled on the trial, especially with the present freedom evidenced in the societal setting. It is indeed strange how one can be victimized for being a teacher, and such teachings result in demise. Further, it is indeed strange why one would be put to death when a natural death was eminent. This clearly demonstrated that Socrates was not a wanted individual in the society and there was no ethics displayed in the actions. Socrates significantly contributed i n awakening the societal standpoint on political and ethical dealings and the misconceptions that are often involved in the two. Through his actions, he successfully demonstrated that there existed several fallacies in democratic citizenship. "The unexamined life is not worth living" is among the quotes he presented to elucidate this fact. Further, what one considered virtuous may not be necessarily seen in a similar manner in another area or by another person. Therefore, egalitarian citizenship varied depending on the location; hence, the trial may have diverse teachings. Rather than rebutting his teachings and his beliefs on his teachings, Socrates chose to die. He thus evidenced his moral commitment, since he

Strategic Management Accounting Essay Example | Topics and Well Written Essays - 2250 words - 1

Strategic Management Accounting - Essay Example operator of the largest civilian fleet of the world and accordingly employs more than 6, 26,764 staffs in order to ensure successful running of the widely dispersed network (Crew and Brennan, 2015). The paper will explore the organizational structure, different constituents of product and capital markets for the purpose of understanding interaction between both the markets. The main reason behind USPS to maintain their long established and well maintained postal services is the steady internal structure of the organization. The present structure of the organization is designed in such a manner that ensures coordination and conformation of three distinct organizational responsibilities such as: formulating strategic directions, coordinating and carrying out routine operations and providing necessary support for managing other internal functions (Carbaugh and Tenerelli, 2011). The headquarters are delegated to fundamental responsibilities such as strategy determination and formulation of organizational objectives. For monitoring and controlling the daily operations, the organization has assigned Chief Operating Officers (COO) (Baligh, 2006). However, among all such units, decision making and delegation of responsibilities are maintained by the departments residing in the headquarters. This shows a relatively bureaucratic organizational structure. As a result of operating since 1970s, evolution of multiple cross functional departments further complicated the systems of the organization. Therefore, the organizational structure of USPS may be transformed into a functional structure where individual departments will be able to make decisions in order to speed up the pace of service (Carbaugh and Tenerelli, 2011). Such organizational structure will contribute towards minimizing the complexities among departments and accelerating the postal services in the United States (Baligh, 2006). Considering products and services provided by the United States Postal Service, the

Comparative Politics Research Paper topic Assignment

Comparative Politics Research Paper topic - Assignment Example The rise of sectarianism in both Bahrain and Kuwait is firmly held in the venerable problems of governance and the elite manipulation of the Sunni and Shiite identities. Massive loss of lives in the gulf region has been as a result of the deep religious differences between these two sects. The re-emergence of identity politics in Bahrain and Saudi Arabia has left in its tail worrying number of deaths in close by countries and the continued manipulation of the identity by the ruling families might degenerate into violence in these countries. According to Saikal and Acharya (7), during the spring, protesters in Bahrain were quelled through manipulation of the sectarian divide. The stability of the political system in Saudi Arabia on the other hand ensured that the protests were unheard of in the monarchial state. Interests in the sectarianism politics in the region has aroused a lot of interest; particularly, the causes and the manner in which it continues to shape politics in the two

Critical thinking why guns wont make us safer Essay

Critical thinking why guns wont make us safer - Essay Example there are suggestions from the public that guns enable citizens to protect themselves, this is not the case because, guns continue to be used in domestic violence across the American society. To further prove the need for gun control, studies shows that countries implementing laws related to gun control have realized success in terms of reducing homicides, suicides, domestic violence and other gun related violence or crimes (Trotter 26). Sean Faircloth is correct in his argument that guns will not make the society safer. The infiltration of guns into the hands of the citizens in America, has done more harm than good. Statistics shows that gun ownership has resulted to an increase in homicide which often occur because of domestic violence. In addition guns are used to commit suicide and mentally or psychologically disturbed teenagers are using guns to kill fellow students. In essence, this statistics is an evident that there is need for gun control in the American society to protect c itizens from harm. As argued by Faircloth, it is true that most homicide committed in American homes is mainly contributed by ownership of guns by citizens. Citizens normally acquire guns for safety purposes; however, these guns pose a danger particularly in a spate of anger, either spouse can use a gun in case of an incidence of domestic violence. On the same note, it is true that domestic violence go hand in hand with gun violence and in most cases, it is women who are the victims of gun violence especially in American homes. Most people who own gun in the American society are not insane, the citizens who own guns are stable and their prior intention is to improve the safety of their homes (Faircloth). As reiterated by Faircloth: â€Å"Most citizens who own guns normally do not have an intention to turn against their wives or girlfriends, but in a spate of anger guns can become a tool of lashing out. Shooting another person only takes seconds and one only realizes after the damage

Comparative Politics Research Paper topic Assignment

Comparative Politics Research Paper topic - Assignment Example The rise of sectarianism in both Bahrain and Kuwait is firmly held in the venerable problems of governance and the elite manipulation of the Sunni and Shiite identities. Massive loss of lives in the gulf region has been as a result of the deep religious differences between these two sects. The re-emergence of identity politics in Bahrain and Saudi Arabia has left in its tail worrying number of deaths in close by countries and the continued manipulation of the identity by the ruling families might degenerate into violence in these countries. According to Saikal and Acharya (7), during the spring, protesters in Bahrain were quelled through manipulation of the sectarian divide. The stability of the political system in Saudi Arabia on the other hand ensured that the protests were unheard of in the monarchial state. Interests in the sectarianism politics in the region has aroused a lot of interest; particularly, the causes and the manner in which it continues to shape politics in the two

Human resouces management is nothing more than personal management Essay

Human resouces management is nothing more than personal management with a new label, Critically evaluate this statement - Essay Example Consequently, the concept of labor power that was sold by human beings had to be effectively organized. Hence, owner of firms and organizations began adapting to the world of management through the use of personnel management that had the sole responsibility of hiring and firing employees. Actually, employees welfare demand grew by the day, the world of management grew simultaneously to the extent that the personnel management could not accommodate the increasing demand for employees’ welfare and as such, most organizations and firms began replacing personnel management (PM) with human resource management (HRM). Apparently, the term human resource management has been used across the world for approximately a century. According to Soni (2013) the emergence of Human resource management (HRM) is believed to have started in England in the early 18th century when the west was experiencing the apprenticeship and craftsmen era. Moreover, the emergence of HRM was also significantly associated with the arrival of the industrial revolution. As the 19th century begun, a philosopher by the name Taylor argued that it was necessary to combine scientific management and industrial workers psychology, and further introduce the two concepts in the business world. In light of this, the philosopher further articulated that it was imperative for workers to be managed not only for the purpose of making work to be efficient, but also ensuring that the workers were psychologically fit to hold the title of being employees. Similarly, the drastic changes that were being witnessed especially in technology, growth of various organizations and the rise of different unions greatly facilitated the development of personnel departments that were run by welfare secretaries soon after the beginning of the 19th Century. Importantly, the effective management of human resource in any organization is to ensure that competitive advantage is gained in the marketplace.

Effectiveness of Personality Tests on Indigenous People Essay Example for Free

Effectiveness of Personality Tests on Indigenous People Essay Abstract This review seeks to evaluate the effectiveness of the standard personality tests on indigenous people. The two indigenous groups focused on are Native Americans and Aboriginal Australians. Several academic sources have been researched when creating this review. What was surprisingly discovered was the overwhelming evidence that presented a bias point of view outlining mainly the inappropriateness of personality tests. Introduction The term ‘inappropriate’ is universally defined as â€Å"not suitable or proper in the circumstances† (Brown, Robert T.;Reynolds 1999). Most standard personality tests among researchers are considered to be inappropriate for use with Aboriginal people in Australia and for Native Americans in the USA. (Brown, Robert T. ;Reynolds 1999). The following psychological assessment tests can be generally misleading to indigenous Australians and Native Americans which include: MMPI-2 (Abel 1973), The Westerman Aboriginal Checklist—Youth (WASC-Y), DSM IV-TR, ICD10, the ‘Who Am I’ test and the High school adolescent Clinical Inventory(Westerman 1997). Indigenous Austrlian – Test Review. The Australian Psychological Society has set guidelines for the conduct of psychological research with Aboriginal and Torres Strait Islander people of Australia. One of which outlines that psychologists should take into account ethnicity and culture when making professional judgements with indigenous clients (N. D 1995). However, Tracy Westerman, psychologist and Managing Director of Indigenous Psychological Services(IPS) says the standard personality tests in Australia are subject to cultural bias and are a key reason why the tests are considered inappropriate for indigenous Australians(Westerman 1997). Consequently, indigenous Australians are unfairly penalized as they don’t experience the same culture as the dominant society (Westerman 1997). As a result, these indigenous Australians are inaccurately assessed which leads to an inaccurate diagnostic decision (Vicary 2003). One way personality tests are considered inappropriate for indigenous Australians are the content provided within the tests. The test content may have high cultural loading, in which a given test requires specific knowledge or experience with mainstream culture (Vicary 2003). For example, certain phrases or words used in certain tests are a disadvantage indigenous Australians. The meaning or unfamiliarity of the terminology used presents problems with the validity of such tests such as misinterpretation (Vicary 2003). For example, Westernman explains that a â€Å"suicide does not mean that someone has killed themselves† in the Aboriginal community. It means that they were cursed (Vicary 2003). Aboriginal people also do not speak English as a native language and therefore will have difficulty comprehending the wording of the test. For those reasons mentioned, MMPI-2 has been criticized by psychologists for its validity when examining diverse cultural groups(Wettinger, M). Westerman Wettinger (1997) state that the norms of testing indigenous Australians ‘have been described as out-dated’ and need to be replaced. Westerman has pointed out that a more practical approach should be undertaken when assessing aboriginal people as it is culturally acceptable for Aboriginal people to learn verbally(Westerman 1997). For example, when working with aboriginal children, oral tests and drawings are a useful means of testing as they allow children to tell stories. This is a culturally acceptable way for Aboriginal children pass on information and important messages. The Westerman Aboriginal checklist – Youth(WASC-Y) has implemented more effective methods of testing indigenous Australians. The WASC-Y is aimed at identifying early detection of anxiety, depression, low self-esteem and suicidal behaviours for Aboriginal youths aged 13-17 (Pearson 2010). A prominent strength of the test is it does not require written competencies or numeracy skills, and is orally administered (Pearson 2010). Only an experienced psychologist who is skilled in dealing with indigenous Australians can administer the test(Pearson 2010). Although the WASC-Y has been claimed to be reliable when used to assess applicants for job positions or training programmes, companies are not enforced to use this test which is a barrier for indigenous Australians(Pearson 2010) Another major issue when considering the appropriateness of personality tests is examining whether or not the professional clinicians conducting the tests are â€Å"cross culturally competent†( Riggs, D 2004). The lack of cultural competence in past practice has been a contributing factor to the overall failure of systems of care for Aboriginal and Torres Islander Strait people (Brown, 2001; Garvey, 2007; Riggs, 2004). When utilizing standard measures, clinicians confirm to assumptions that the client is similar to the standardized population(Riggs, D 2004). This assumption is inappropriate when assessing a client from an indigenous culture. For example, Aboriginal people may not be familiar with test taking skills performed by dominant society which may also contribute to their poor performance in the test(Riggs, D 2004). Not understanding the impact of the indigenous clients cultural background could lead to inaccurate results and analysis by the clinician. It is considered the responsibility of the clinician to learn as much as possible about the client’s culture and to acknowledge any biases or prejudices they may have about the clients ethnic group(Dudgeon, P 2010). Furthermore, it is also the clinician’s responsibility to understand any historical issues relevant to Aboriginal people which may impact their lack of motivation and performance when being tested. Factors which cause this impact may include poverty, unemployment and limited educational opportunities(Dudgeon, P 2010). During the meetings between the clinicians and their indigenous clients, the clinicians should establish rapport, respect, and a therapeutic relationship with their clients(Westerman 1997). Rapport and communication problems may also exist between the clinician and the indigenous client due to different cultural backgrounds. As a result, the difficulties in rapport and communication may slow down the Aboriginals client’s ability respond to test items (Vicary 2003). For example, Westerman (1997) states that traditional psychological testing using the â€Å"question and answer† format in one on one situations presents difficulties amongst indigenous children and adults(Westerman 1997). This is because in some Aboriginal cultures, it is considered impolite to ask a question to someone who doesn’t know the answer (Westerman 1997). It is also beneficial to build rapport with indigenous clients to eliminate the ‘notion of whiteness’(Riggs 2004). This is the skeptisicm that may arise in the Aboriginal community due to the past actions of dominant society which may include taking of land or the stolen generation. Aboriginal clients may have a possible barrier of distrust toward the clinician which may be a apparent in the aboriginal community. This level of distrust may stem from any negative experiences the Aboriginal client has experienced in dominant society such as racism in their residential school or community(Riggs 2004). Indigenous American – Test Review Personality assessment services have also been considered culturally inappropriate for Native Americans living in the United States(Brown, Robert T. ;Reynolds, Cecil R. ;Whitaker, Jean S 1999). These assessments include globally recognized tests such as the MMPI and WAIS. Native Americans are said to face potential bias stemming from inappropriate test content, differential predictive validity, and bias introduced by language differences and social consequences due to labelling and prejudice (kaufman and Renolds 1983). A lack of knowledge for both the Native client and clinician increases the difficulties in finding a reliable accurate outcome of an assessment(Fuchs, D. , Young 2006). Clinicians are accused of not having enough historical knowledge about Native Americans while at the same time they assume that their Native American clients are culturally aware of how Western society operates(Fuchs, D., Young 2006). This assumption will cause difficulties for the clinician to assess a person from another culture with fairness and objectivity(Fuchs, D. , Young 2006). Psychologists in the USA have emphasised on an emic approach towards assessing Native Americans(Fuchs, D. , Young 2006). This means that only psychologists who specialize in studying and examining one particular culture would be allowed to assess that culture. It is agreed the assessor needs to build solid relationship with Native American clients while conducting an assessment(Abel 1973). This will help shape the clients expectations for the assessment interaction and possible outcomes of assessment(Abel 1973). Native Americans are said to be motivated by human value and approval rather than bureaucratic protocol. This means that structured formal situations between the assessors and the Native American client can be perceived as gratuitous and annoying to the client(Abel 1973). The relationships should be informal, based on respect and understanding, and continuous overtime (Abel 1973). In conclusion, it is evident that a culture clash between indigenous and western cultures is a major issue when performing psychological tests. While most tests gathered in this review deems psychological testing to be inappropriate, there are other tests such as the WASC-Y that specialize in understanding clients from diverse cultures which would be deemed more appropriate for use. It is also important to consider how much funding is being placed by governing bodies to develop more appropriate assessments for indigenous people.

Impact of FIIs on Indian Stock Market for a period of 2006 2009

Impact of FIIs on Indian Stock Market for a period of 2006 2009 Indian economy has been witnessing a phenomenal growth since the last decade. The country is still holding its ground in the midst of the current global financial crisis. In fact, global investment firm, Moodys, says that driven by renewed growth in India and China, the world economy is beginning to recover from the one of the worst economic downturns in decades. The growth in real Gross Domestic Product at factor cost stood at 6.7 % in 2008-09. While the sector-wise growth of GDP in agriculture, forestry and fishing was at 1.6 % in 2008-09, industry witnessed growth to 3.9 % of the GDP in 2008-09. The Prime Minister, Dr Manmohan Singh, on August 15, 2009, in his address to the nation on its 63rd Independence Day, said that the Government will take every possible step to restore annual economic growth to 9 %. Further, the World Bank has projected an 8 % growth for India in 2010, which will make it the fastest-growing economy for the first time, overtaking Chinas expected 7.7 % growth. A number of leading indicators, such as increase in hiring, freight movement at major ports and encouraging data from a number of key manufacturing segments, such as steel and cement, indicate that the downturn has bottomed out and highlight the Indian economys resilience. Recent indicators from leading indices, such as Nomuras Composite Leading Index (CLI), UBS Lead Economic Indicator (LEI) and ABN Amro Purchasing Managers Index (PMI), too bear out this optimism in the Indian economy. Industrial output as measured by the index of industrial production (IIP) clocked an annual growth rate of 6.8 % in July 2009, according to the Central Statistical Organisation. Significantly, among the major economies in the Asia-Pacific region, Indias private domestic consumption as share of GDP, at 57 % in 2008, was the highest, according to an analysis by the McKinsey Global Institute. Meanwhile, foreign institutional investors (FIIs) turned net buyers in the Indian market in 2009. FIIs inflows into the Indian equity markets have touched US$ 10 billion in the April to September period of 2009-10. Foreign direct investments (FDI) into India went up from US$ 25.1 billion in 2007 to US$ 46.5 Indian economy has been witnessing a phenomenal growth since the last decade. The country is still holding its ground in the midst of the current global financial crisis. In fact, global investment firm, Moodys, says that driven by renewed growth in India and China, the world economy is beginning to recover from the one of the worst economic downturns in decades. The growth in real Gross Domestic Product (GDP) at factor cost stood at 6.7 % in 2008-09. While the sector-wise growth of GDP in agriculture, forestry and fishing was at 1.6 % in 2008-09, industry witnessed growth to 3.9 % of the GDP in 2008-09. The Prime Minister, , on August 15, 2009, in his address to the nation on its 63rd Independence Day, said that the Government will take every possible step to restore annual economic growth to 9 %. Further, the World Bank has projected an 8 % growth for India in 2010, which will make it the fastest-growing economy for the first time; overtaking Chinas expected 7.7 % growth. A number of leading indicators, such as increase in hiring, freight movement at major ports and encouraging data from a number of key manufacturing segments, such as steel and cement, indicate that the downturn has bottomed out and highlight the Indian economys resilience. Recent indicators from leading indices, such as Nomuras Composite Leading Index (CLI), UBS Lead Economic Indicator (LEI) and ABN Amro Purchasing Managers Index (PMI), too bear out this optimism in the Indian economy. Industrial output as measured by the index of industrial production (IIP) clocked an annual growth rate of 6.8 % in July 2009, according to the Central Statistical Organization. Significantly, among the major economies in the Asia-Pacific region, Indias private domestic consumption as share of GDP, at 57 % in 2008, was the highest, according to an analysis by the McKinsey Global Institute. Meanwhile, foreign institutional investors (FIIs) turned net buyers in the Indian market in 2009. FIIs inflows into the Indian equity markets have touched US$ 10 billion in the April to September period of 2009-10. Foreign direct investments (FDI) into India went up from US$ 25.1 billion in 2007 to US$ 46.5 billion in 2008, achieving a 85.1 % growth in FDI flows, the highest across countries, according to a recent study by the United Nations Conference on Trade Development (UNCTAD). According to the Asian Development Banks (ADB) Asia Capital Markets Monitor report, the Indian equity market has emerged as the third biggest after China and Hong Kong in the emerging Asian region, with a market capitalization of nearly US$ 600 billion. The Economic scenario Indian investors have emerged as the most optimistic group in Asia, according to the Quarterly Investor Dashboard Sentiment survey by global financial services group, ING. As per the survey, around 84 % of the Indian respondents expect the stock market to rise in the third quarter of 2009. With foreign assets growing by more than 100 per cent annually in recent years, Indian multinational enterprises (MNEs) have become significant investors in global business markets and India is rapidly staking a claim to being a true global business power, according to a survey by the Indian School of Business and the Vale Columbia Center on Sustainable International Investment. In its optimistic report on Macroeconomic and Monetary Development of the economy in 2009, the Reserve Bank of India (RBI) said overall business sentiment was slated for a sharp improvement from that in the April-June 2009 quarter. Further, India and China will soon emerge as the preferred destinations for foreign investors, revealed Economy.com, the research arm of global rating agency Moodys. The countrys foreign exchange reserves rose by US$ 1.28 billion to touch US$ 277.64 billion for the week ended September 4, 2009, according to figures released in the RBIs Weekly Statistical Supplement. Net inflows through various non-resident Indians (NRIs) deposits surged from US$ 179 million in 2007-08 to US$ 3,999 million in 2008-09, according to the RBI. The most recent World Bank update on migration and remittances reveals that the remittances of US$ 52 billion by overseas Indians in 2008 makes it Indias largest source of foreign exchange. India, along with China and Mexico, retained its position as one of the top recipients of migrant remittances among developing countries in 2008. FDI inflows into India in April-May 2009-10 have surged by 13 % at US$ 4.2 billion as against the previous two months driven by recovery in the global financial markets. Cumulative FDI in India from April 2000 to March 2009 stood at about US$ 90 billion. FIIs inflows into the Indian equity markets have touched US$ 10 billion in the April to September period of 2009-10. Venture Capital firms invested US$ 117 million over 27 deals in India during the six months ending June 2009, according to a study by Venture Intelligence in partnership with the Global-India Venture Capital Association. The private equity (PE) investment into the country reached US$ 1.03 billion during April-June 2009-registering an increase of 17 % sequentially-according to data compiled by SMC Capitals, an equity research and analysis firm. The year-on-year (y-o-y) aggregate bank deposits stood at 21.2 per cent as on January 2, 2009. Bank credit touched 24 % (y-o-y) on January 2, 2009, as against 21.4 % on January 4, 2008. Since October 2008, the RBI has cut the cash reserve ratio (CRR) and the repo rate by 400 basis points each. Also, the reverse repo rate has been lowered by 200 basis points. Till April 7, 2009, the CRR had further been lowered by 50 basis points, while the repo and reverse repo rates have been lowered by 150 basis points each. Exports from special economic zones (SEZs) rose 33 per cent during the year to end-March 2009. Exports from such tax-free manufacturing hubs totalled US$ 18.16 billion last year up from US$ 13.60 billion a year before. India Incs order book has more than doubled to an all-time high of US$ 15.32 billion in the second quarter of the current financial year, compared to the first quarter. On a year-on-year basis, the increase is 21 per cent. Advance tax collections for the second quarter of the current financial year (2009-10) have shown robust growth of 35 to 40 per cent across industries. The domestic mutual fund industry registered a moderate growth of 5 per cent in its assets under management (AUM) in August 2009 at US$ 15,702, due to good performance by debt funds. India exported a total of 230,000 cars, vans, sport utility vehicles (SUVs) and trucks between January and July 2009, a growth of 18 per cent owing to its liberal investment policies and high quality manufacturing that stems from its growing prowess in research and development. Indias gems and jewellery exports regained momentum and aggregated to US$ 1.9 billion in July 2009 as compared to US$ 1.7 billion in June 2009. The total Merger and acquisition (MA) deals registered during the first seven months of this year stand at 158 with a value of US$ 5.91 billion, while PE deals stand at 114, totalling a value of US$ 4.89 billion, according to consulting firm, Grant Thornton Investments in the Indian stock market through participatory notes (PNs) crossed US$ 20.65 billion-mark in May 2009. Sustainable energy investment in India went up to US$ 3.7 billion in 2008, up 12 per cent since 2007, according a report titled Global Trends in Sustainable Energy Investment 2009. The rural India growth story The Indian growth story is spreading to the rural and semi-urban areas as well. The next phase of growth is expected to come from rural markets with rural India accounting for almost half of the domestic retail market, valued over US$ 300 billion. Rural India is set to witness an economic boom, with per capita income having grown by 50 per cent over the last 10 years, mainly on account of rising commodity prices and improved productivity. Development of basic infrastructure, generation of employment guarantee schemes, better information services and access to funding are also bringing prosperity to rural households. Per Capita Income Per capita income of Indian individuals stood at US$ 773.54 in 2008-09, according to Central Statistical Organization data. The per capita income in India stood at US$ 687.03 in 2007-08 and has risen by over one-third from US$ 536.79 in 2005-06 to US$ 773.54 in 2008-09. Advantage India According to the World Fact Book, India is among the worlds youngest nations with a median age of 25 years as compared to 43 in Japan and 36 in USA. Of the BRIC-Brazil, Russia, India and China-countries, India is projected to stay the youngest with its working-age population estimated to rise to 70 % of the total demographic by 2030, the largest in the world. India will see 70 million new entrants to its workforce over the next 5 years. India has the second largest area of arable land in the world, making it one of the worlds largest food producers-over 200 million tonnes of foodgrains are produced annually. India is the worlds largest producer of milk (100 million tonnes per annum), sugarcane (315 million tonnes per annum) and tea (930 million kg per annum) and the second largest producer of rice, fruit and vegetables. With the largest number of listed companies 10,000 across 23 stock exchanges, India has the third largest investor base in the world. Indias healthy banking system with a network of 70,000 branches is among the largest in the world. According to a study by the McKinsey Global Institute (MGI), Indias consumer market will be the worlds fifth largest (from twelfth) in the world by 2025 and Indias middle class will swell by over ten times from its current size of 50 million to 583 million people by 2025. India, which recorded production of 22.14 million tonne of steel during April-August 2009, is likely to emerge as the worlds third largest steel producer in the current year. India continues to be the most preferred destination-among 50 top countries-for companies looking to offshore their information technology (IT) and back-office functions, according to global management consultancy, AT Kearney. The Indian stock markets have risen to be amongst the best performers globally across the emerging and developed markets in 2009 year-to-date, according to an analytical study by MSCI Barra indices. India has reclaimed its position as the most attractive destination for global retailers despite the downturn, according to the Global Retail Development Index (GRDI) brought out by US-based global management consulting firm, A T Kearney. Growth potential According to the Young report titled India 2012: Telecom growth continues, Indias telecom services industry revenues are projected to reach US$ 54 billion in 2012, up from US$ 31 billion in 2008. The Indian telecom industry registered the highest number of subscriber additions at 15.84 million in March 2009, setting a global record. A McKinsey report, The rise of Indian Consumer Market, estimates that the Indian consumer market is likely to grow four times by 2025, which is currently valued at US$ 511 billion. India ranks among the top 12 producers of manufacturing value added (MVA)-witnessing an increase of 12.3 % in its MVA output in 2005-2007 as against 6.9 % in 2000-2005-according to the United Nations Industrial Development Organization (UNIDO). In textiles, the country is ranked 4th, while in electrical machinery apparatus it is ranked fifth. It holds 6th position in the basic metals category; seventh in chemicals and chemical products; 10th in leather, leather products, refined petroleum products nuclear fuel; twelfth in machinery and equipment motor vehicles. In a development slated to enhance Indias macroeconomic health as well as energy security, Reliance Industries has commenced natural gas production from its D-6 block in the Krishna-Godavari (KG) basin. India has a market value of US$ 270.98 billion in low-carbon and environmental goods services (LCEGS). With a 6 % share of the US$ 4.32 trillion global market, the country is tied with Japan at the third position. PE players are planning to raise funds for the infrastructure sector. Presently, around US$ 1.42 billion is being raised by India-dedicated infrastructure funds, according to data released by Preqin, a global firm that tracks PE and alternative assets. Infrastructure, including roads, power, highways, airports, ports and railways, has emerged as an asset class with long-term growth that can provide relatively stable returns. NASSCOM has estimated that the IT-BPO industry will witness an export growth of 4-7 % and domestic market growth of 15-18 % in 2009-10. Further, it has projected that around 40,000 students will be absorbed by IT companies this fiscal. With the availability of the 3G spectrum, about 275 million Indian subscribers will use 3G-enabled services, and the number of 3G-enabled handsets will reach close to 395 million by 2013-end. Exchange rate used: 1 USD = 48.21 INR (as on July) 1 USD = 47.81 INR (as on September) FIIS Foreign Institutional Investors is used to denote an investor; it is mostly of the form of an institution or entity which invests money in the financial markets of a country. The term FII is most commonly used in India to refer to companies that are established or incorporated outside India, and is investing in the financial markets of India. These investors must register with the Securities Exchange Board of India to take part in the market. Foreign investment refers to investments made by residents of a country in another countrys financial assets and production processes. After the opening up of the borders for capital movement, foreign investments in India have grown enormously. It affects the productivity factors of the receiver country and has the potential to create a ripple effect on the bop of the country. In developing countries like india, foreign capital helps in increasing the productivity of labor and to build up foreign exchange reserves to meet the current account deficit. It provides a channel through which these countries can have access to foreign capital. Foreign investments can be of two forms: foreign direct investment and foreign portfolio investment. FDI involves direct production activity and has a medium to long term investment plans. In contrast the FPI has a short term investment horizon. They mostly investment in the financial markets which consist of FIIs. They invest in domestic financial markets like money market, stock market, foreign exchange market etc. FIIs investments are volatile in nature, and they mostly invest in the emerging markets. They usually keep in mind the potential of a particular market to grow. FII has lead a significant improvement in India relating to the flow of foreign capital during the period of post economic reforms. The inflow of FII investments has helped the stock market to raise at a greater height according to financial analysts. Sensex touched a new height. It crossed 10000-mark in Jan 2006 which was 9323 in 2005. FII participation in the Indian stock market triggers its upward movement, but at the same time increased liquidity through FII investment inflow increases volatility. HISTORY OF FII India opened its stock market to foreign investors in September 1992, and in 1993, received portfolio investment from foreigners in the form of foreign institutional investment in equities. This has become one of the main channels of FII in India for foreigners. Initially, there were many terms and conditions which restricted many FIIs to invest in India. But in the course of time, in order to attract more investors, SEBI has simplified many terms such as: The ceiling for overall investments of FIIs was increased 24% of the paid up capital of Indian company. Allowed foreign individuals and hedge funds to directly register as FIIs. Investment in government securities was increased to US $ 5 Billion. Simplified registration norms. P-NOTES (Participatory Notes) are instruments used by foreign investors that are not registered with the Securities Exchange Board of India to invest in Indian stock markets. For example, Indian-based brokerages buy India-based securities and then issue Participatory Notes to foreign investors. Any dividends or capital gains collected from the underlying securities go back to the investors. That is why they are also called Offshore Derivative Instruments. Trading through Participatory Notes is easy because participatory notes are like contract notes transferable by endorsement and delivery. Secondly, some of the entities route their investment through Participatory Notes to take advantage of the tax laws of certain preferred countries. Thirdly, Participatory Notes are popular because they provide a high degree of anonymity, which enables large hedge funds to carry out their operations without disclosing their identity. The first question that we need to ask is the necessity of FIIs as an instrument for investment into India. This is not a common place of markets; if, for example, a non-resident of the US or of England chooses to invest in an American or an English or a German stock, he does not have to hold his investment indirectly through an FII, but can hold it directly in his own name. An FII in India is a superfluous addition created simply to suit the regulatory requirements of SEBI. FIIs serve no economic purpose but they exist in order to provide SEBI with a bureaucratic layer between a foreign investor and the regulator. It enables SEBI to pretend that it controls foreign investors when in fact SEBI has no control on the ultimate investor. It is a good example of obscuring the true character of foreign investment in India through a non-transparent and expensive set-up. The P-Note is an additional twist in this indirect investment as it enables those who wish to invest in the Indian market to do so without disclosing their identity. FIIs impact on the Indian economy: The Indian stock markets are both shallow and narrow and the movement of stock depends on limited number of stocks. As FIIs purchases and sells these stocks there is a high degree of volatility in the stock market. If any set of development encourages outflow of capital that will increase the vulnerability of the situation. The high degree of volatility can be attributed to the following reasons: The increase in investments by FIIs increases stock indices in turn increases the stock prices and encourages further investments. In this event, if any correction takes place the stock prices declines and there will be full out by the FIIs in large number as earning per share declines. The FIIs manipulate the situation of boom in such a manner that they wait till the index raises up to a certain height an exit at an appropriate time. This tendency increases the volatility further. So even though the portfolio investment by FIIs increases the flow of money in the economic system, it may create problems of inflation. FIIs Influence in Indian Stock Market Institutional Investor is any investor or investment fund that is from or registered in a country outside of the one in which it is currently investing. Institutional investors include hedge funds, insurance companies, pension funds and mutual funds. The growing Indian market had attracted the foreign investors, which are called Foreign Institutional Investors to Indian equity market, and in this paper, we are trying a simple attempt to explain the impact and extent of foreign institutional investors in Indian stock market. What does the name FII means? It is the abbreviation of Foreign Institutional Investors. The term is used most commonly in India to refer to outside companies investing in the financial markets of India. International institutional investors must register with the Securities Exchange Board of India to participate in the market. One of the major market regulations pertaining to FIIs involves placing limits on FII ownership in Indian companies. They actually evaluate the shares and deposits in a portfolio. The major source (almost 50%) of money the FIIs invest is from the issue of Participatory Notes (P-Notes) or what are sometimes called Offshore Derivatives. There are over 1484 FIIs and 38 foreign brokers registered to Securities Exchange Board of India. We are also examining whether market movement can be explained by these investors. We often hear that whenever there is a rise in market, it is explained that it is due to foreign investors money and a decline in market is termed as withdrawal of money from FIIs. After 1991, due to our liberalization process, there was large flow of foreign funds from abroad. Investments by FII are Rs. 2,55,464.40 Crores as compared to Rs. 2,83,468.40 Crores by the end of 31 December 2007. That implies that they had withdrawn almost 9% of money they had deposited till December 2007. The amount was much in the months of 2008 as compared to corresponding months of 2007, and that is a reason for the volatility of the stock market. In 2008, the net buying is only Rs. 5,603 Crores compared to Rs. 36,869 Crores in 2007. A more investments by FIIs indicate that they are confident in Indian market. Usually, the mode of operations of FIIs was taking loans from countries where interest is low (like Japan) and invests in booming markets like India. But the sub-prime crisis and other economic conditions had caused a liquidity crunch for these institutions. So they are forced to withdraw money from Indian market so as to repay loans they had taken. These withdrawals had caused panic in market, and even domestic investors are making them sell their shares. But one aspect we should agree on is that the FIIs increased role had changed the face of Indian stock market. It had brought both quantitative and qualitative change. It had also increased the market depth and breadth. Emphasize is on fundamentals had caused efficient pricing of shares. Since there is no condition on FIIs that they should disclose in which company they are investing, those figures are not available. Many qualitative tests like regression tests had proved that there is direct relation between market movements and fund flows of FIIs. In this, we will analyze the investments in different months and years, and tries to find the impact of FIIs in stock market. Investments of FIIs on Indian Stock Market The current investments of FIIs is Rs. 2,55,464.40 Crores. This is almost 9% of the total market capitalization. If we explain the things in simple terms, market pundits often attribute the rally of stock market and fall of stock market to the flow of funds by FIIs. We often hear the terms FIIs Fuel the Market Run. If we analyze the impacts, then the major impacts are: They increased depth and breadth of the market. They played major role in expanding securities business. Their policy on focusing on fundamentals of the shares had caused efficient pricing of shares. These impacts made the Indian stock market more attractive to FIIs and also domestic investors, which involve the other major player Mutual Funds. The impact of FIIs is so high that whenever FIIs tend to withdraw the money from market, the domestic investors become fearful and they also withdraw from market. Just to show the impact, we analyze below the 10 biggest falls of stock market: Day (Point loss in India) Gross Purchase (Rs. Crores) Gross Sales (Rs. Crores) Net Investments (Rs. Crores) 21/01/2008 (1408) 3062.00 1060.30 2001.80 22/01/2008 (875) 2813.30 1618.20 1195.10 18/01/2008 (687) 1077.20 1348.40 -271.20 17/12/2007 (826) 670.00 869.00 -199.00 21/11/2007 (678) 640.70 791.80 -151.10 18/10/2007 (717) 1107.00 1372.50 -265.50 16/08/2007 (643) 989.50 750.30 239.20 02/08/2007 (617) 534.50 542.00 -7.50 01/08/2007 (615) 809.40 956.90 -147.50 18/05/2006 (856) 761.80 527.40 234.40 Major Intra Day Collapses in BSE Sensex From this table, we can see that the major falls are accompanied by the withdrawal of investments by FIIs. Take the case on January 18, 2008, the Sensex lost almost 687 points. Here, the net sales by FIIs were Rs. 1348.40 Crores. This is a major contributor to the fall on that day. But contrary to that day, take the case on January 21, 2008, the Sensex lost 1408 points and the gross sales was Rs. 1060.30 Crores and the purchases were Rs. 3062.00 Crores. So this can be concluded that after the fall of market, FIIs had invested again into the market. From this, we can see the effect of FIIs. Net Investments of FII from 2006-09 Year Net Investment 2006 36539.7 2007 71486.5 2008 -29169 2009 15281.8 Now we analyze the net investments graph from 2006 to 2008. From this, we can see that there was small decrease in investments in the year 2006. But there was a steep increase in the year 2007-08. This was the best period in Indian stock market where stock prices were increased and the market was in good mood. When we take the investments in 2008, the net investments is negative.

Nature of Logic and Perception Essay -- Logic Critical Thinking Philos

Nature or Logic and Perception Outline: 1. Definition of logic and its connection with critical thinking. 2. An everyday example is given when use of logic and critical thinking takes place. 3. Nature of logic defined. 4. Perceptual shortcuts and factors influencing it. 5. How these shortcuts affect our decisions. 6. My personal experience of perceptual shortcut. 7. What I learned from this experience. 8. Importance of logic and critical thinking. 9. Resources This paper is aimed at the relation logic has with perception. It kicks off with the meaning and process of logic and how it then relates to critical thinking. It further gives a very common example of how one makes a decision with the help of his/ her critical thinking. We then find out what perceptual shortcuts are and how they are formed and what influences it. The paper then goes on to explain in detail about an incident in my life where my perception of the situation was far from the actual reality. The paper wraps up with my final thoughts of how nature of logic affects thinking process. Webster?s dictionary defines logic as the science dealing with the principles of reasoning, especially of the method and validity of deductive reasoning. In layman?s terms, the use of logic within our thinking allows us the ability to discern and reason logically that with which we are presented with on a daily basis. It is a process of examining and evaluating any particular idea or thought, in an effort to search for the truths that allows us to better understand or identify why we think the way we do. It enables us to more effectively express our opinions and ideas or even aid in the argument of someone else?s point of view. Hence the term, Critical Thinking! It is a way in which we rationalize any given thought or idea that helps us to come to a conclusion based on the findings that support it. For instance, before heading to work you watch the news and their morning traffic update for possible accidents and road closures because you have an hour commute. On this particular morning you hear the traffic reporter mention that your daily route to work has been closed due to a huge tractor-trailer accident. Logically, and using critical thinking you are able to come up with two alternate routes for getting to work on time. Using further logic and critical... ... she only 2 years old. As I came to know the truth, I immediately apologized. We are still best friends. But since that day onwards, I learnt that ?first investigate and then poke into the matter?. I also began to be more understanding since then. I further changed my tactics and always made sure that I knew both sides of the story. The nature of logic as it relates to critical thinking, and the perceptual process have a great impact on individuals choices and decisions in life. It is important to think before you speak because you never know where miss-understanding may take you. Do not assume, but think about all of your possible choices before making a fair decision. View situations in its entirety for clearer possible outcomes. When you have exhaled all possible choices, make a final decision that makes you feel more comfortable with your decision. In the end not only will you gain knowledge, but you will also enhance your way of thinking to understand and except different people and environments. Bibliography Brewer, Bill. ?Perception and Reason?. Clarendon Press: Oxford, 1999. Pg no 288. Philosophy Lander http://philosophy.lander.edu/logic/nature_log.html

Adoption of Ifrs

ADOPTION OF IFRS: IT`S BENEFITS AND IMPACTS ON FIRMS AND COUNTRIES AROUND THE WORLD The IASB was established in 2001 and since have assumed the responsibility of the standard setting from its predecessor body, the International Accounting Standards Committee (IASC) and began issuing International Financial Reporting Standards (IFRS). IFRS has recently been dominating the regulatory changes in accounting for listed companies around the world. Through the years, over 100 countries have adopted IFRS reporting, some of which include Australia, the European Union, India, Japan, South Africa, Russia and most recently Canada.In addition, the U. S. Securities and Exchange Commission (SEC) are working towards the final element of a work plan to incorporate IFRS into the U. S. financial reporting jurisdiction. In November 2007, the SEC voted to allow foreign issuers that report in IFRS to file their financial statements with the SEC without reconciling to U. S. generally accepted accounting st andards (GAAP). Accounting standard setters anticipate that the use of IFRS will improve the comparability of financial statements, improve reporting transparency, and increase the quality of financial reporting which in turn will lead to greater investor confidence.From an economic perspective, some believe that it’s challenging to perceive that such expectations will be achieved as a result of converting to IFRS. However according to proponents of IFRS, publicly traded companies believe that applying these principles will allow for a single set of high quality accounting standards as this will contribute to better functioning of the capital markets (Quigley 2007).In the following paper I will discuss the reasons why firms around the globe have adopted IFRS in relation to the financial reporting and disclosure quality, comparability across firms and countries, and the costs and benefits associated with reporting improvements. Most countries are in favor of adopting IFRS, fro m the viewpoint that IFRS standards are more capital market oriented, which in turn provides higher quality information that will benefit constituencies of financial statement users as supposed to local GAAP (Daske and Gebhardt 2006).If this statement is true, one way to validate it is through recommendations by empirical studies that suggest firms engaging in IFRS implementations should see an increase in market liquidity followed by a decrease in the firm’s value of cost of capital. According to Leuz and Wysocki (2008), they have provided some evidence in relation to the effects of reporting quality on market liquidity. They indicate the issue regarding information asymmetry, where investors who possess less knowledge of a firm’s reporting structure or policies, are concerned about trading with the better informed investors.They indicate how these non-informed investors are to lower the price at which they are willing to buy, to protect themselves from losses incurre d from trading with better informed investors. Hence investors that possess less information about a stock are less likely to trade. These effects of adverse selection and information asymmetry reduce the liquidity of securities market. Therefore, IASB strongly encourages essential financial disclosure. This will alleviate the adverse selection problem and will result in increased market liquidity by leveling the playing field among all market participants.In addition, other studies have shown that improvements in financial reporting and disclosure can affect the cost of capital in a variety of ways. Some of which include, investors that require a higher return from less liquid securities and lower estimation risk as this makes it easier for the investor to estimate a firm’s future cash flow. This in turn, will improve risk sharing in the economy by making investors aware of certain securities or by making them more willing to hold them (Leuz and Verrecchia, 2004). Hence redu cing the cost of capital.As important as it can be for firms to disclose essential information to investors, other firms can also benefit from these disclosures for the purpose of decision making and will help reduce the agency problem existing between shareholders and management. For example, â€Å"disclosure on operating performance and governance arrangement provides useful benchmarks that help outside investors to evaluate other firms managerial efficiency or potential agency conflicts and, in doing so, lower the costs of monitoring† ( Leuz and Wysocki, 2008).In addition, the information environment has improved as firms switch over to IFRS, which has also contributed to the increase in higher quality financial reporting. According to Mary E. Barth (2006) firms that voluntarily adopted IFRS generally seek lower earning management, lower cost of capital, and more value relevant of earnings. All of which interpret evidence of higher accounting quality. Barth indicates that the accounting quality could be mproved by removing other accounting methods that are not reflective of a firm’s performance and which are used by managers to manage earnings. As part of his testing, he compared firm’s earnings management between those firms reporting under IFRS and firms reporting according to their local GAAP. As a result of his study, it was indicated that after firms had adopted IFRS, they had larger volatility swings in net income, increase ratio of variance in cash flows, higher correlation of accruals and cash flows, small positive net income, and increased occurrence of larger losses.Opponents argue that a single set of internationally accepted high quality financial reporting standards may not be appropriate for certain firms as they are exposed to different cultural, political and legal differences as this might continue to impose major obstacles in the progress towards the harmonization of standards. These differences however may not provide for any greater value relevance and reliability. For example a study conducted by Ball (2006) indicates that pension accounting may be subject to earnings management in countries that have less developed pension systems.Another empirical study indicates that managers can take advantage and use different assumptions to manipulate financial statements (Soderstorm and Jialin Sun, 2006). Proponents of IFRS argue that using common accounting standards across countries will make it more cost efficient for investors to identify earnings management. When accounting standards are uniformed and relevant disclosure is provided, investors are more likely to understand the different assumptions used by management to calculate such pension accounting, which will limit the chances of management to engage in earnings management.The second important factor as to why countries have chosen to adopt IFRS, is mainly because of its increase in accounting comparability across firms. The advantage of a gl obal movement towards IFRS reporting makes it easier for investors and stakeholders to compare different firms and the relevant information to help them assess the company objectives. Comparative reporting will enable users of financial statements in identifying which firms are more or less profitable.Firms that are exposed to high or low risk of return as a result, will reduce investors information asymmetries and lower estimation risk. Moreover, the improvement in comparability across firms allows for increase market liquidity and reduces firms cost of capital (Luez et al. 2008). Studies have suggested that prior to adopting IFRS, firm’s local GAAP standard which were tailored to the needs of analysts and investors would in theory reduce biased information and build investor confidence.A study conducted by Tan, Wang and Welter in 2009, indicated that once firms had adopted IFRS, their foreign analysts had increased significantly more for those who had the greatest level of GAAP differences. There have been a number of studies conducted to test whether IFRS adoption does in fact increase comparability. The outcome of these studies are mixed. Bielstein et al. (2007) concluded that IFRS adoption, results in greater foreign investment for countries that have strong reliability and comparability.Other empirical studies claim that cultural, political and business differences continue to impose significant obstacles in increasing the comparability of accounting information. Lang Maffet and Owens (2010) find that accounting comparability does not improve for IFRS adopters relative to a control group of non-adopters. The two conclude that there is little evidence that IFRS adoption increases comparability. Overall, from the research obtained, there is little empirical evidence proven on the effects of reporting comparability than reporting quality.The third important factor for countries adopting IFRS, are the costs and benefits associated in producing high qu ality accounting standards and the improvement in comparability across firms. As mentioned previously, the ultimate benefit a firm receives by adopting IFRS reporting is from the increase in market liquidity followed by a lower cost of capital. In order to achieve this high standard, there are costs that a firm is exposed to. Such incurred costs include transitional costs, ongoing costs of compliance to the firms, and enforcement costs relevant to government agencies (Standish, 2003).Standish summarizes his findings in relation to cost and benefits of firms moving to IFRS that will tend to see lower transaction costs when preparing financial reports. They will only be reporting against a single set of accounting standards instead of multiple sets. In addition, he makes note of a â€Å"positive network externality† that arises through the use of a single set of accounting standards by all constituencies. This will save market participants from requiring additional time and ene rgy of having to learn, apply and understand multiple sets of standards.Other benefits that result from the transition to IFRS will improve comparability between firm’s financial statement for investors and shareholders. Thereby, making investment decision’s easier. According to Leuz and Wysocki (2008), there are direct and indirect costs associated with improving reporting. The direct costs include preparation, validity and circulation of accounting reports. These costs can vary and increase significantly. In addition, firms will require assistance and hire consultants that have expertise in IFRS reporting.These specialists help train key personnel in the organizations so that they are able to produce financial statements that are in accordance to IFRS reporting. The costs tend to be more difficult for smaller companies to finance such activities for disclosures and reports, as their profitability margins are small. Disclosure costs have characteristics of indirect co sts. Whereby a firm can reduce its monopoly power by providing too much detail to the market, as sensitive profitability information is assimilated to its competitors.Other empirical studies have noted that with these costs and cost-benefit trade-offs that firms are undergoing, it may not be suitable for them to obtain high quality reporting. Rather, encourage firms to provide certain disclosures which the cost of disclosing such information does not exceed their benefit. Moreover, it is of importance that the standard setters recognize the net benefits obtained from the high quality reporting and comparability, as they differ across firm industries and countries (Leuz and Wysocki, 2008).It’s relatively evident why most companies would like to switch over to IFRS due to the number of benefits that are associated with the transition as described above. One would automatically presume that a single set of accounting standards that are used universally by most firms within diffe rent countries would deliver comparability, increase reporting transparency, allow for foreign investments, hence increasing market liquidity and low cost of capital. However, there is very little empirical evidence that claim these characteristics as being true after conversion.Having said that, Ball (2006) has noted that IASB has been successful in serving the public by developing comprehensive set of high quality standards that have convinced over 100 countries to adopt these principles for the purposes of financial reporting. There are some advantages of having a single set of accounting standards unified. As such, these standards contain characteristics of a â€Å"public good†, for example, the investor can use this information in an annual report without eliminating its usefulness to other investors. In other words, the marginal cost for another investor viewing these annual reports would be zero.A second advantage of unifying accounting standards and disclosure practic es is to reduce management from using their own judgement in financial reporting, by reducing the risk of altering the reports to mislead capital market participants. Moreover, these uniform standards provide protection for auditors against firms. These standards are to also be enforced by auditors, whereby the firm has very little opportunity to shirk, hence reducing information asymmetry and increasing investors and stakeholder’s confidence of the firm. Lastly, unifying these standards will increase the accounting comparability across firms.If each firm or country were to implement different local accounting standards, this can impose high costs for both the firm and its external users, such as investors as this will create negative externalities and will reduce domestic investments which can impact countries trade volume profitability, where the majority of countries main source of income is driven from. Opponents of IFRS adoption feel that a single set of accounting stand ards do not benefit all firms and countries. These differences in countries arise from cultural, economic, political and legal systems.For example, firms may have to respond to political pressures from the government due to balance sheet volatility, as a result of fair valuing. The IASB should review accounting standards as they are released to eliminate the possibility of political pressures on countries that are exposed to such tight regulation. One of the main reasons why countries and firms around the world adopt IFRS is due to the results achieved from reporting quality and disclosure practices. However, IFRS can occasionally produce ineffective reporting quality and disclosure.For instance, IFRS can lack in setting descriptive details in their guidelines that make it difficult for countries to follow. Some countries find their local GAAP easier to read and understand due to the level of detail and examples provided. These complexities in the rules creates havoc for firms that would like to report in IFRS, but find it challenging to exclusively follow these guidelines outlined by the IASB. As a result, this can lead to poor financial reporting quality. Other countries and firms conclude that fewer rules and guidelines will encourage management to produce effective accounting policies that will rompt them to make appropriate judgement calls. Information asymmetry and agency costs play a significant role in relation to the disclosure and financial reporting quality. The key motivating factor for any firm is, the more disclosure provided will create a positive signal to investors and hence, will reduce the information asymmetry and agency costs. Companies will see increases in investor confidence while earning high profitability levels. Moreover, firms adopting IFRS, chances are that they are subject to fewer opportunities to part take in earnings management or deceive investors.Studies have indicated that countries which have adopted IFRS do not all achieve the same degree of benefit. The study implies to those countries which have a weak structure in place for investor protection, will tend to see the most benefits from adopting of IFRS. In contrary, countries that have a strong structure in place for investor protection will see marginal benefits. The increase in benefits received by a country whether small or large will improve investor protection and provide for more comparable and comprehensive financial reporting.The cost and benefits of a firm converting to IFRS can be substantial depending on how one views it. The benefit driven through the implementation of IFRS will include lower cost of capital, increases firm value and creates a stable level of investors’ confidence. In addition, as discussed above, the benefits will also increase as a result of better financial reporting quality and cross country comparability for foreign investors, auditors and other constituencies. These benefits obtained through adoption of IFRS are not free. The cost of implementing such an accounting standard can cost firms millions.There are various types of costs that are incurred in the different processes a firm undergoes. The transition costs can be significant in relation to auditing fees. The cost of auditing work will increase, due to testing and validating accounting data as most of the assumptions used by firms are judgemental. Other costs involve training key personnel to apply applicable standards in practice. Companies tend to have shortages of staff that have ever been exposed to IFRS accounting, this is more apparent in Canada. As a result, these companies struggle as they need to learn and apply these new standards.Moreover, the cost related to the risk involved of manipulation of accounting standards, as these standards do not provide strict reporting rules for companies to follow, can impose a huge cost on the firm, if the auditor refuses to provide an unqualified opinion on the firm. Overall, the costs are generally higher during the first couple of phases through the transition. In the long run, costs tend to decline as employees are more aware of the standards and a basic foundation has been developed by IFRS consultants and auditors. At the present moment IFRS reporting is widely used by many countries across the globe.Based on the studies gathered above, countries and firms are optimistic about replacing their local GAAP to IFRS accounting standards. By moving towards a universal set of high quality accounting standards this will lead to improving the firm’s performance, by increasing shareholders wealth though investors’ confidence, lower cost of capital hence reducing information asymmetry. In addition, other benefits include comparability across all nations, this will help facilitate in better understanding by investors of accounting information released in public financials.Comparability will result in an increase of auditors understanding in the types of po licies and assumptions companies implement. This will help ensure that companies are not partaking in earnings management. Comparative accounting standards can be most beneficial to analysts. This will enable analysts to predict the firm’s future forecast of cash flows in comparison to the industry average. As mentioned above, the IFRS accounting standards are costly to implement. Studies have made reference to these transition costs as extremely pricy to develop, however, in the long run their costs tend to decline.This may in fact be true, however, for those companies that have incorporated IFRS standards, will continue to see new accounting pronouncements issued by the IASB, as they work to improve their guidelines. As a result, firms will continue to spend in areas of training and seeking professional advice on how these new standards will impact their firm. References 1. Bielstein , 2007. How the IFRS movement will affect financial reporting in the U. S. : Article: KPMG 2. Daske andGebhardt, 2006. Discussion of Daske and Gebhardt, Journal ofAccounting Finance and Business Studies. 3. Lang, Maffet and Owen, 2010. Earnings Movement and Accounting Comparability, the Journal of Accounting Research 4. Leuz and Verrecchia , 2004. Firms Capital Allocation Choices, Information Quality and the Cost of Capital 5. Luez and Wysocki, 2008. Economic Consequences of Financial Reporting and Disclosure Regulation, Journal of Accounting Research 6. Mary E. Barth, 2006. Accounting Quality : International Accounting Standards, The Journal of Accounting Research 7. Ray Ball, 2006.International Financial Reporting Standards (IFRS): Pros and Cons for Investors, Journal of Accounting Research 8. Soderstorm and Jialin Sun, 2007. IFRS Adoption and Accounting Quality: A review, The Journal of Accounting Research 9. Standsih, 2003. Evaluating National Capacity for Direct Participation in International Accounting Harmonization, Journal of Accounting Research 10. Tang, Wang and Welkor, 2011. Analyst Following and Forecast Accuracy After Mandated IFRS Adoption. Journal of Accounting Research. 11. William R. Scott, Fifth edition , 2009. Financial Accounting Theory