Yanmamo essays

Yanmamo expositions There are numerous contrasts between the South American Yanomamo culture and the North American culture that we have adjusted to, however exactly at there is culture assorted variety between us, we have a few likenesses. The ethnography, which is picked, was Yanomamo composed by Napoleon A. Chagnon, anthropologists. Chagnon discloses to us how to it was to live among the Yanomamo family, political and fighting framework versus the American Culture. The Yanomamo are of patrilineal culture, male arranged and exceptionally misogynist. For reasons unknown they accept that, they are better than ladies, so do a few men in American culture. Nonetheless, they are shocked back reality when the law gets included, shockingly Yanomamo men dont have this reminder. Marriage is diverse viewpoint. Yanomamo relationships are entirely different from that of American relationships. Yanomamo ladies are treated as materialistic items and guaranteed by their dad or sibling to a Yanomamo man as an end-result of correspondence. The correspondence could be another Yanomamo ladies or political coalitions. The exchanges are frequently drilled in the Yanomamo culture. Polygamy is additionally a piece of the Yanomamo culture. Yanomamo ladies are kept in the guys ownership. The Yanomamo man attempts to gather the same number of spouses as he can so as to exhibit his capacity and manliness. As polygamy in American Culture is alluded to as plural marriage which is illegal. Additionally, polygamy, the act of child murder assumes a job in the absence of ladies in their general public. Yanomamo want to parent a male kid instead of a female youngster, so in the event that a female is conceived she is executed during childbirth. This again demonstrated their chauvinist convictions that ladies are mediocre. Numerous Yanomamo ladies dreading their spouses murder a female newborn child to abstain from baffling their alleged better half. To the individuals of American culture certain systems of killing another conceived child would be viewed as ruthless, terrible and muti... <!

Approaches and Methods in Language Teaching Essay

Approaches and Methods in Language Teaching - Essay Example The inquiry that looms over my psyche at whatever point confronted with an absolutely new encounter is, ‘Am I prepared to take on the challenges?’ Without an answer, I as a rule continue to do what is asked, keep the guidelines, and trust in the best. Luckily, the methods for dealing with stress I apply have attempted to cause me to modify in time. Be that as it may, these components, combined with a positive air, are not a confirmation to prevail in the college. There are aptitudes that I need to create so as to make it to the last occasion, the school graduation. Luckily, I am not the only one in confronting the difficulties of college life. The school, through its program, Introduction to Degree Studies (IDS) causes me to feel sure that help is accessible to worldwide understudies like me each time we need it. Steadily, the apprehensions I had during the main seven day stretch of my examinations have changed into difficulties and later to undertakings attributable to the taking in I picked up from the course. The requirements of another understudy, particularly an outside national, are not quite the same as the necessities of ordinary understudies. Standard understudies can adjust quicker to their condition regardless of being new to the college since they have emotionally supportive networks to direct them, for example, their family, companions, and network. Conversely, outside understudies have nobody to go to in the midst of hardship. In spite of the fact that they can generally call up home or sign on the net to speak with their friends and family, it is as yet not equivalent to having their loved ones next to them particularly in the midst of hardship. This experience, notwithstanding the obstructions brought by language and culture, is exacerbated by the battles remote understudies experience in adapting to class necessities. Considering the troubles that must be tended to by every understudy, IDS, with its objective of managing new unders tudies, is a shrewd exertion by the school. Through IDS, outside understudies are allowed to demonstrate their value and exceed expectations in scholastics. The qualities I picked up from going to IDS are immense. As a matter of first importance, the course has driven me to pick up bits of knowledge about myself as a student. The VARK evaluations done in the course have guided me to understand my learning potential and to improve my learning propensities. The activities educated me that I am a visual-sensation student. In light of this, I understood that I have a great deal to change about the manners in which I learn. My past learning propensities are not in accordance with being a visual-sensation student. Considering this, I have changed the manner in which I study, and make it a point currently to peruse my exercises while recording highlights simultaneously. Here and there I utilized a whiteboard and a marker to write down my notes. Along these lines, I get the chance to expand my visual-sensation potential. By the by, I additionally attempt to build up my sound-related abilities by tuning in to some music or radio news before resting. Up until this point, this has helped me think and imagine the words I hear even without seeing them. Furthermore, IDS has guided me to learn new abilities, which are similarly significant in college examines. One expertise I improved with the assistance of IDS is my composing ability. Previously, I never utilized a framework to control my contemplations recorded as a hard copy organizations. I just composed whatever came up my psyche, and never tried to write down and sort out my thoughts before composing. Through IDS, I understood that all that I compose ought to be founded on a framework. There ought to be an appropriate presentation, body and end, or, more than likely the arrangement won't be viewed as a scholarly composition. The acquaintance situates the perusers with the issue being handled in the content, while the e nd emphasizes the contentions introduced and gives the author’s separating message to tie up free endings.

Impress Your Reader With Your Message, Not Your Vocabulary

Impress Your Reader With Your Message, Not Your Vocabulary In classic literature, it seemed that critics thought the bigger the words, the better the writer. While the classics certainly have their place in literary history, chances are that your essays, resumes, cover letters, theses, marketing communications, novels or short stories are more likely to be read and judged by a much more targeted, and thus much smaller, audience.Beware the 10-lb. word in a 5-lb. sackWords are wonderful, magical tools for any writer, and there is great temptation to branch out from our vocabulary comfort-zone, to experiment with what we consider to be intellectual or smart-sounding phrases. Your message to your reader will be interrupted by the shock of an ill-fitting word or phrase that is obviously not part of your regular speech but instead, a substitute plucked from Rogets Thesaurus. The teacher, professor, customer or employer reading your document is interested in your message; you will lose their interest quickly if the flow of your writing (and their r eading) is sprinkled with unnecessary multi-syllable or archaic words.Objective editing produces better writingLets assume you have a writing project â€" an essay. You have selected a topic, researched your background material, formulated your opinions on the subject and produced the first draft. Your next three steps are crucial to creating the best essay you can write: 1) Edit the text; 2) Edit the text again; 3) Read the text as if you were a child, and edit the text again. If you find words or phrases that seem out of place or could be simplified for clearer understanding, get your red pencil moving! What seems out of place to you could come across to your reader as pompous and, worse yet, could cause your reader to discount any genuine ideas you may be trying to explain.Write as you speakNaturally, formal writing will be more structured than conversation; nevertheless, everything you write should impart your personality, your intelligence and your sense of humor where appropria te. This is more difficult for English-as-second-language writers, who have a tendency to select grander-sounding words in English than in their own language. As these writers become more familiar with casual English and interact more with English-speaking associates, it is an editors delight to see their written communication become much more natural and less dependent upon big words.Put this tip to work for youBelow is an example from a resume of an introductory paragraph that cries out for simplification. As a practice exercise, identify the roadblocks to understanding and re-phrase as needed without losing the intent of the message. While this is an obviously absurd example, you should approach all of your writing with the same critical eye and the pledge to make your end-product the best it can be.Career Objective: To capitalize on my abundant scholastic and professional sagacity in marketing communications, all the while achieving equanimity between Advertising and Public Rela tions, ensuring my effectiveness and contributory value to my prospective employer.Small words to write byIf you remember nothing else from my writing tips, burn these three words on your brain: Keep it simple. While you should always strive to improve your vocabulary, you do not want your reader fumbling through the dictionary instead of absorbing your message. The best advice for would-be writers is evidenced by successful modern authors â€" their use of words, flow of content, clarity of subject and variety of expressions â€" hence, the more you read, the more you learn about writing, and the most valuable lesson is: Build your vocabulary and improve your writing, but leave the ten-dollar words to Shakespeare!

The Cape Cod Style House in the New World

The Cape Cod style house is one of the most recognized and beloved architectural designs in America. When British colonists traveled to the New World, they brought a housing style so practical that it endured through the ages. The modern day Cape Cod houses you see in nearly every part of North America are modeled after the rugged architecture of colonial New England. The style is a simple one — some may call it primitive with a rectangular footprint and gable pitched roof.  You will rarely see a porch or decorative embellishments on a traditional Cape Cod home. These houses were designed for easy construction and efficient heating. Low ceilings and a central chimney kept rooms comfortable during cold winters in the northern colonies. The steep roof helped slough off the heavy snow. The rectangular design made additions and expansions an easy task for growing families. Fast Facts: Colonial Cape Characteristics Post and beam, rectangular footprintOne story with additional half story under roofSide gable roof, fairly steepCenter chimneyShingle or clapboard exterior sidingCenter front door, two double-hung windows on each sideLittle ornamentation History The first Cape Cod style homes were built by Puritan colonists who came to America in the late 17th century. They modeled their homes after the half-timbered houses of their English homeland, but adapted the style to the stormy New England weather. Over a few generations, a modest, one- to one-and-a-half-story house with wooden shutters emerged. Reverend Timothy Dwight, a president of Yale University in Connecticut, recognized these houses as he traveled throughout the Massachusetts coastline, where Cape Cod juts out into the Atlantic Ocean. In an 1800 book describing his travels, Dwight is credited with coining the term Cape Cod to describe this prolific class or type of colonial architecture. Traditional, colonial-era homes are easily identifiable — rectangular shape; moderately steep roof pitch with side gables and a narrow roof overhang; one story of living area with a half story of storage area below the roof. Originally they were all constructed of wood and sided in wide clapboard or shingles. The facade had a front door placed at the center or, in a few cases, at the side — multi-paned, double-hung windows with shutters symmetrically surrounded the front door. The exterior siding was originally left unpainted, but then white-with-black-shutters became the standard later on. Homes of the original Puritans had little exterior ornamentation. Cape Cods styles smaller than what is known as double Capes include the single Cape with a facade of two windows to the side of the front door, and the three-quarter Cape with a front door offset from the center chimney allowing only one window on the short side. The rectangular interior could be divided or not, with a large central chimney linked to a fireplace in each room. No doubt the first homes would have been one room, then two rooms — a master bedroom and a living area. Eventually there may have been a center hall in a floor plan of four rooms, with a kitchen addition in the back, separated for fire safety. Certainly a Cape Cod house had hardwood floors that replaced original dirt floors, and what interior trim there was would be painted white — for purity. 20th Century Adaptations Much later, in the late 1800s and early 1900s, a renewed interest in Americas past inspired a variety of Colonial Revival styles. Colonial Revival Cape Cod houses became especially popular during the 1930s and later. Developers and architects anticipated a building boom after World War II. Pattern books and catalogs flourished and publications held design competitions for practical, affordable dwellings to be bought by a burgeoning American middle class. The most successful marketeer  who promoted the Cape Cod style is considered to be the architect Royal Barry Wills, a  Massachusetts Institute of Technology (MIT)-educated marine engineer.  Although Willss designs do indeed breathe sentiment, charm, and even sentimentality, their dominant characteristics are reticence, modesty of scale, and traditional proportions, writes art historian David Gebhard. Their small size and scale exuded puritanical simplicity on the outside and tightly organized spaces on the inside — a combination that Gebhard likens to the inner workings of a marine vessel. Wills won many competitions with his practical house plans. In 1938 a Midwestern family chose a Wills design for being more functional and affordable than a competing design by the famous Frank Lloyd Wright. Houses for Good Living in 1940 and Better Houses for Budgeteers in 1941 were two of Wills most popular pattern books written for all the dreaming men and women waiting for the end of World War II. With floor plans, sketches, and Dollar Savers from an Architects Handbook, Wills spoke to a generation of dreamers, knowing that the U.S. government was willing to back up that dream with GI Bill benefits. Inexpensive and mass-produced, these 1,000-square-foot houses filled a need for the rush of soldiers returning from the war. In New Yorks famous Levittown housing development, factories churned out as many as 30 four-bedroom Cape Cod houses in a single day. Cape Cod house plans were heavily marketed in the 1940s and 1950s. Twentieth century Cape Cod houses share many features with their colonial ancestors, but there are key differences. A modern-day Cape will usually have finished rooms on the second story, with large dormers to expand the living space. With the addition of central heating, the chimney of a 20th century Cape Cod is often more conveniently placed at the side of the house instead of the center. The shutters on modern Cape Cod houses are strictly decorative (they cant be closed during a storm), and the double-hung or casement windows are often single-paned, perhaps with faux grills. As 20th century industry produced more construction materials, exterior siding changed with the times — from traditional wood shingles to clapboard, board-and-batten, cement shingles, brick or stone, and aluminum or vinyl siding. The most modern of adaptations for the 20th century would be the garage facing front so the neighbors knew you owned an automobile. Additional rooms attached to the side or rear created a design that some people have called Minimal Traditional, a very sparse mashup of the Cape Cod and Ranch style houses. Cape Cod Bungalow Cottage Modern-day Cape Cod architecture often mingles with other styles. It is not unusual to find hybrid houses that combine Cape Cod features with Tudor cottage, Ranch styles, Arts and Crafts or Craftsman bungalow. A bungalow is a small home, but its use is often reserved for a more Arts and Crafts design.  A cottage is used more often to amplify the house style described here. The Dictionary of Architecture and Construction defines a Cape Cod cottage as a rectangular frame house with low one-story eaves, white clapboarded or shingle walls, gabled roof, large central chimney, and front door located on one of the long sides; a style frequently used for small houses in the New England colonies during the18th cent. The names we attach to our residential architecture is telling of the times. People who live in small Cape Cod styles homes will rarely use the word cottage to describe where they live. People of means, however, with enough money to have a summer home, might describe their second (or third) home as a cottage — as happened during the Gilded Age with the mansion-cottages of Newport, Rhode Island and elsewhere. Sources Baker, John Milnes. American House Styles: A Concise Guide. Norton, 2002capelinks.com. Cape Cod How Can You Recognize an Original Cape Cod Style House?  http://www.capelinks.com/cape-cod/main/entry/how-can-you-recognise-an-original-cape-cod-style-house/Gebhard, David. Royal Barry Wills and the American Colonial Revival. Winterthur Portfolio, Vol. 27,  No. 1 (Spring, 1992), The University of Chicago Press, p. 51Goldstein, Karin. The Enduring Cape Cod House. Pilgrim Hall Museum. http://www.pilgrimhall.org/pdf/Cape_Cod_House.pdf  Harris, Cyril M. ed. Dictionary of Architecture and Construction. McGraw-Hill, p. 85Library of Congress. Cape Cod Houses Recorded by the Historic American Buildings Survey. July 2003. http://www.loc.gov/rr/print/list/170_cape.htmlMcAlester, Virginia and Lee. A Field Guide to American Houses. Knopf, 1984, 2013Old House Online. Cape Cod Cottage History of Cape Cod Architecture. August 4, 2010. https://www.oldhouseonline.com/house-tours/original-cape-cod-co ttageWalker, Lester. American Shelter: An Illustrated Encyclopedia of the American Home. Overlook, 1998

Dbq on Slavery - 793 Words

Between 1775 and 1830, in many places African Americans gained their freedom from slavery and in others, the institution of slavery expanded. Eventually, slavery became abundant in places where it was most necessary and died out in the places where it was of little use. In response, most free African Americans and enslaved African Americans took action against their maltreatment by petitions and willingness to fight. The first trend of declining slavery was visible from the first declared emancipation of slaves by Lord Dunmore in November of 1775. By granting freedom to all slaves who would raise arms against the American rebels, Lord Dunmore hoped to bring more troops into his ranks in Virginia. This movement continued following the†¦show more content†¦In addition, however, slave labor was needed to do the backbreaking work in the hot Southern sun and thus became more valuable than ever before. The map shows that in 1790, slaves consist of less than 10 percent of the p opulation in most areas of the country, and as much as 50 percent in small sections on the Southern coast. However, by 1830 most of the Northern states were areas either without any slaves or less than 10 percent. In contrast, the majority of Southern states had a slave population between 10 and 50 percent. This slave-populous area extended along the Southern coasts as well as deep into Kentucky and Tennessee. The changes in slave density between 1790 and 1830 directly relate to areas were slave labor was an economic necessity. African Americans in separate situations often shared similar opinions concerning slavery and freedom. Although many blacks, both freed and enslaved, were willing to speak out against slavery and petition their rights, they did so in varying degrees. In one instance, a slave politely requested that his owner grant him the right to purchase his freedom. Another slave, Gabriel Prosser, took a more extreme approach to gaining his freedom. In fact, he led a rebellion against the white slaveholders in 1800. Even freed African Americans were maltreated. Both Prince Hall and Hosea Easton, Boston residents, protested the daily insults and abuse theyShow MoreRelatedSlavery Dbq835 Words   |  4 Pagesto settle, the issue of slavery was ever present. Nobody was quite sure of how to handle slavery. While some people fought to have slavery abolished, others completely opposed the idea of no longer having slaves. It was during this time period that many slaves managed to gain their freedom; however slavery as an institution continued to expand. Even though the many states passed laws outlawing the practice of slavery, the slave trade in the states that still allowed slavery grew immensely. DuringRead MoreDbq on Slavery765 Words   |  4 PagesQUESTION: What was the scope and the attitude of people toward the institution of slavery in the world from the beginning of civilization to the dawn of modern times? Note to the wise: Look at the content of the documents, the place at which the document originated, and the time at which the document was written. Also consider who wrote the document and how that individual feels about the institution of slavery. Document 1 The Judgements of Hammurabi (1792-1750 B.C.E.) Mesopotamia| If a manRead MoreAbolition Of Slavery DBQ Essay1226 Words   |  5 Pagesï » ¿Abolition of Slavery DBQ Essay Slavery in the United States first started in 1619, when African slaves were transported to Jamestown, a settlement in the colony in Virginia. These slaves were brought to the United States primarily to help with the making of crops, especially tobacco. The practice of slavery remained present throughout the seventeenth and eighteenth centuries in other colonies of the United States, which helped build and strengthen the American economy as a whole. In 1793, theRead MoreDbq: American and Muslim Slaveries1164 Words   |  5 PagesDocument-based Question: American and Muslim Slaveries Slavery is as old as the world s first civilizations. Two important slave movements were the one across the Sahara Desert and another along the East African coasts of the Indian Ocean, both of which terminated in slave markets in the Muslim world. The subject of slavery is viewed in contrast by different parts of the world. Narrowing to the topic of slavery in the Americas and the Muslim states, it is apparent that the two regions containRead Morewhat were the different views towards slavery DBQ1258 Words   |  6 Pagesattitudes of my understanding the document. These documents are all based on the institution of slavery and the attitudes about slavery. I put these eight documents into two groups and those are for slavery and neutral attitude thought about slavery. These eight documents are all sorted by attitude and are going to be from the beginning of time to modern day. The first group is the thought that slavery was a good thing. The first document in this group is document number one. This document statesRead MoreAlison Brady. Period 5. December 4, 2012. Dbq #1. Slavery1637 Words   |  7 PagesAlison Brady Period 5 December 4, 2012 DBQ #1 Slavery was the main cause of the breakup of the Union and influenced other factors, such as territorial expansion, industrialization and economic tensions, and political alignments. Combined, all of these conflicts, with slavery at the root, led to the conflicts in the nation that started the Civil War. The issue of slavery caused conflict regarding new territories, economic stratification, and political turmoil. All of these tensions served to divideRead MoreFederal Government of the United States and Territorial Expansion1101 Words   |  5 Pages2010 DBQ: (Form A) 1. In what ways did ideas and values held by Puritans influence the political, economic, and social development of the New England colonies from 1630 through the 1660s? (Form B) 1. The issue of territorial expansion sparked considerable debate in the period 1800–1855. Analyze this debate and evaluate the influence of both supporters and opponents of territorial expansion in shaping federal government policy. 2009 DBQ: (Form A) From 1775 to 1830, many African AmericansRead MoreAp Exam Essays1660 Words   |  7 Pagesthrough the 1660s? 2. Analyze the political, diplomatic, and military reasons for the United States victory in the Revolutionary War. Confine your answer to the period 1775–1783. 3. Analyze the ways in which controversy over the extension of slavery into western territories contributed to the coming of the Civil War. 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Explain the ways that participation in political campaigns and elections in the United States changed between 1815 and 1840, and analyze forces and events that led to these changes. 2010 DBQ: (Form A) 1. In what ways did ideas and values held by Puritans influence the political

Inclusionary Practices In The Science Classroom Education Essay Free Essays

Inclusionary patterns are those which involve pupils with or without disablements. Students who are physically or mentally impaired are given more attending, but they are taught in the same environment as that of the normal pupils. In order to manage such a group of pupils, teamwork is compulsory. We will write a custom essay sample on Inclusionary Practices In The Science Classroom Education Essay or any similar topic only for you Order Now A squad of decision makers, regular schoolroom instructors, physical instructors, particular instructors, physical and occupational healers, etc is required ( Meieran, – ) . There are two sorts of inclusion. Regular inclusion- is one where the particular pupils go in the schoolroom of general pupils. There they are given extra aid and particular direction in the schoolroom. Full inclusion is one where there is no segregation between general and particular pupils, and they work together ( Hub Pages ) . Experiences Richard Lange, is a talented expert, and he talks about his experience and about the international talented plans. He talks about his visit to Taipei, Taiwan, where he saw that these pupils had to take extended strict arrangement trials in order to acquire them admitted in these schools. These schools have big focal point on scientific discipline and research lab experiments at an early age. Cultivation of Inclusive Practices in Schools When inclusive patterns are cultivated in schools, the school faculty members must do certain that the instructors they hire have a focal point on handicapped pupils beyond that they have on normal pupils. The manner instructions are given is an of import factor, as it can function as solid foundation for inclusive schoolroom ( Dukes A ; Dukes ) However, there are a batch of challenges that comes across in inclusive schoolrooms. The instructor has to be more inclusive and identify challenges by supplying practical activities, thoughts and attacks ( Inclusive Science ) . One obstruction which everyone comes across is the common attitude of instructors. It has been observed that the attitude of general pupil instructors is different towards the handicapped pupils. Their thought of inclusion and acceptableness differs in regard to the two types. This finally leads to a creative activity of ‘yours non mine ‘ kind of an hostile environment between both the pupils and the staff. A 2nd obstruction is that most of the clip the leaders are unable to acknowledge the demands of the inclusive schoolrooms, and hence, due to this deficiency of support from the staff and decision makers, success is improbable ( Green ) . Importance of Science Science has been considered as the most valuable topic to be taught to the handicapped pupils. Largely general pupil instructors have developing refering to learning pupils with disablements. Particular pupil instructors have had preparation in learning the scientific discipline topics. After the jurisprudence which stated that every kid has a right to achieve instruction was passed, budgets were allocated for the support of instruction of these particular childs. But a job came along with this credence. The scientific discipline instructors were non efficient plenty to convey the cognition to particular pupils, as they were small trained to cover with handicapped pupils, and in general, particular pedagogues had small or no exposure to scientific discipline. Therefore the cognition which the pupils receive is largely that from the text books. And nil beyond the text edition cognition could be explained to the particular pupils. It was observed that the instruction towards scientific discipline was non taken that earnestly. Patton, Polloway and Cranon in a study of particular instruction instructors found that 42 % of particular instruction instructors received no preparation in scientific discipline, 38 % of ego contained kids in particular instruction categories did non have any scientific discipline preparation. In the study further it was found that particular pedagogues spent merely 60 proceedingss in one hebdomad to scientific discipline, and 90 % of the instructors were dependent on the cognition which was available in the text edition. Therefore this shows that there was no existent practical deduction. Another flooring observation revealed that pupils with mild disablements on an norm of 200 proceedingss of text edition cognition received 1 minute of scientific discipline direction ( Norman, Casseu, A ; Stefanich, 1995 ) . Science has become a general focal point for primary instruction. It is non necessary that scientific discipline is merely available to those who already have an chance and those who have received encouragement to prosecute it. It is besides made available to adult females and misss, all racial and cultural groups, physically and educationally challenged, etc. However pupils with disablements who are prosecuting their callings in scientific discipline frequently face a figure of barriers. These barriers include historical, attitudinal, institutional, physical, and curricular barriers. A undertaking by the name of Creating Laboratory Access for Science Students ( CLASS ) has been initiated in order to fix pedagogues for inclusive schoolrooms. They even teach them the methods of extinguishing the barriers ( Kirch, Bargerhuff, Turner, A ; Wheatly ) . The whole construct behind Class inclusions came into being after the authorization ‘No kid left behind ‘ was passed. This authorization talked about kids equality retrospect to education. Out of the seven attacks, Friend and Cooke talked about five of them. Co instruction is coaction between the general instructors and the particular instructors. Increase in instructional options should be one of the ends of the instructors. Apart from this, the engagement and public presentation of these pupils should be enhanced. There are a figure of ways of carbon monoxide instruction. In the first attack the instructor will be responsible for learning while the other circulated throughout the room supplying support. In the 2nd attack, the instructor divides the pupils and content into groups, and so they split the clip every bit between each group. Parallel instruction is the 3rd attack. In this attack the category is divided, and so the instructor teaches each group the same conten t. The 4th attack is known as the alternate attack. In this type the category is divided into two groups. One big and one little, and each teacher instruct one of the groups. The smaller group is normally the one which requires most of the attending. Elementary instructors had a more positive attitude towards co learning instead than secondary instructors. Co instruction is fundamentally a partnership between two instructors, one particular instruction and one regular instruction. Elementary instructors would most likely to pass half a twenty-four hours or so with the particular instructors. Whereas, the secondary instructors would prefer to pass a period or two merely. Classroom direction is an of import issue. If the instructors plan their course of study and learning techniques in a advanced, so they would ne’er hold an issue pull offing a category. Plus the pupils will acquire to larn more from the instructors. Advantages/Disadvantages of Co Teaching There are a figure of advantages and disadvantages of carbon monoxide instruction. Students in carbon monoxide instruction categories get the attending of two instructors at the same clip. In this manner the pupils could easy be handled, in add-on to this the pupils get to larn more and they can pull more attending. Another advantage for the handicapped pupils is that they no longer are labeled as analyzing in handicapped schools, since they are analyzing with the normal pupils. However particular instructors showed concerns about the big sized schoolrooms. They believed that frequently instructors do n’t acquire sufficient clip to function for handicapped pupils because of the figure of pupils in one category. Therefore they were non in favour of big category suites, alternatively they preferred smaller 1s ( Joe, Dowdy, A ; Nichols ) . Qualitative Research There was a qualitative research carried out of two handicapped. Melinda and Philips were both in the same category, and at the ages of 15 ( Melinda ) and 16 ( Philips ) they were diagnosed with cognitive disablements. When the two of them turned 35, co by the way they met and it was found that they were having support through the Medicaid Waiver. The two of them were asked to take part in a research that was taking topographic point. The research was about the participant ‘s educational and personal experiences at that clip, the participant ‘s lives instantly after go forthing the schools, and the participant ‘s current lives. During twelvemonth one of the survey, when the participants were of 15 and 16 old ages of age, the two of them were placed in ego contained particular instruction category. Melinda ‘s records shows that after the first twelvemonth, she was included in the general instruction categories. Prince philips on the other manus was observed to stay in self-contained particular instruction categories for the remaining of his educational calling which was at the age of 22. Over the clip interviews were conducted with the participant ‘s parents and themselves in order to find any alterations in the personal differences and public presentation degrees. The surveies fundamentally shows that during twelvemonth one, Melinda was regressing academically and she showed marks of being riotous in unintegrated schoolrooms. Prince philips on the other manus was non being riotous in unintegrated schoolrooms, he was demoing marks of adulthood and he seemed to take part volitionally in activities that require functional faculty members. After go outing school Melinda was seen to make better in high schools, she prefers working independently, and her marks of growing were increasing. Prince philips on the other manus is seen to lose ego assurance. He was regressing academically, and was loath to interact with others. He had a fright of doing errors and non making things absolutely. When the research workers met Melinda 4 old ages after maturity, when she was populating, they found out that she lived entirely in her flat, had an extended natural support web, and used get bying schemes to help with processing troubles. Whereas in instance of Phili ps, he lived in his parents ‘ house, had lost several occupations and was presently working at a sheltered workshop for items, and had many troubles in the community. After 8 old ages of life as an grownup, it was observed that Melinda got married for an twelvemonth. She was married to Philip, and the two of them shared an flat. She had expanded her natural support web and was self assured of everything she did. Philips on the other manus had a portion clip occupation in the community, he approached advocators when in troubles, and he requires frequent confidences because he is dying with people around. Therefore the findings show that particular instruction in inclusive general instruction scenes may take to better results for pupils with disablements ( Ryndak, Ward, A ; Alper, 2010 ) . Decision I personally am in a complete favour of inclusive instruction. In this manner the disabled would ne’er experience that he/she is low in capableness so normal pupil. We all are equal and hence shall be treated every bit. The authorization which was taken out by the US which is â€Å" No Child Left Behind † , should besides be implemented in Pakistan, it gives an chance to both the instructor and the pupils. In add-on, kids analyzing in such an environment learn to be patient. How to cite Inclusionary Practices In The Science Classroom Education Essay, Essay examples

Pathophysiology and Epidemiology of Asthma

Question: Explain the disorder you selected, including its pathophysiology and epidemiology. Explain a protocol for the diagnosis, management, and follow-up care of this disorder. Explain how culture might impact the care of patients who present with the disorder you selected. ? Answer: Asthma is considered as the most common chronic provocative disease of the airways, which is associated with variable and a recurring number of symptoms. Some of the typical symptoms of the disease include coughing, chest tightness, wheezing, difficulty in breathing and coughing. Thus, asthma is characterized by a variable number of symptoms, which primarily includes airflow obstruction and bronchospasm (Alexander et al., 2012). Asthma is also considered as the most common chronic disorder of childhood, which affects 12.5% of children. Asthma is primarily caused by a amalgamation of environmental and genetic factors. The chronic inflammation of the conducting zone of the airways (bronchi and the bronchioles) results in the onset of the disease, which is associated with an increase in the contractibility of the surrounding smooth muscles disease (Melen Pershagen, 2012). Thus, this leads to bouts of narrowing of the airway and the symptom of wheezing. With the onset of asthma, the cha racteristic changes in the airways include coagulating of the lamina reticular and increase in the size of the eosinophils. There is an also an increase in the size of the mucous gland due to an increase in the size of the smooth muscle. Almost 330,000,000 people worldwide remain affected by asthma and approximately more than three hundred thousand people die per year from the onset of the disease (Alexander et al., 2012). It has been estimated from a report that the incidence rate of the disease is between 2.65 to 4/1000 per year (Melen Pershagen, 2012). In childhood, the onset of the disease is very much frequent among offspring less than five years of age and is more prevalent in boys than in the girls. Diagnosis and Management Asthma is primarily diagnosed with a therapeutic assessment and medical tests that helps in computing the airflow in and out of the lungs. Offspring associated with the disease may not be able to complete the airflow test, which requires blowing very hard into the tube. Also, since the children are not able to describe how they feel, caregivers and family members needs to take measures to remain alert for the symptoms. The diagnosis process also includes skin and blood test of the children in order to examine whether there is any presence of specific allergies that can trigger any asthmatic symptoms (Redwood Neill, 2013). Health care providers need to have a detailed family history of the children suffering from asthma or any allergies such as the hay fever hives etc. Depending upon the severity and frequency of the disease, treatment needs to be provided. Whether mild or severe, any asthma symptom is a matter of concern and thereby needs to be accurately controlled and diagnosed (Kennedy et al., 2012) Children suffering from asthma are thereby advised to use an inhaler in order to provide quick relief from the first sight of the symptoms. The use of inhaler helps in delivering the medication into the lungs for providing immediate relief. In case, if the drugs suggested by the doctor is not helping the child to avoid the asthma triggers, effective methods need to be implemented in order to determine whether the symptoms associated triggered due to exposure to any particular allergen such as pet dander or pollen. If positive outcomes are observed, then the care provider for providing relief to the chil d recommends suitable immunotherapy (Gupta et al., 2012). Impact of Culture Cultural factors such as the language boundaries and the parental beliefs are considered as the primary barrier to the asthma care. Patients with a language hurdle thereby have less access to the usual font of the medical care (Alexander et al., 2012). Thus, the patients do not receive preventive care at lower rates and thereby develops an increased risk of non-adherence to medication. By the childs asthma care, patients brawny beliefs beside the use of medication along with the preferences for the holistic approaches to treatment may serve to stand as an obstacle for providing the successful treatment. Individuals faiths, beliefs, language and home remedies may pose a potential threat to the successful implementation of evidence-based care plan (Coutinho et al., 2013). Thus, cultural knowledge is the process by which education regarding various cultures can be obtained. One of the best methods used to gain knowledge regarding the cultural beliefs of the patient forms the patients th emselves. Cultural skill also helps in obtaining appropriate cultural information regarding the patients clinical history and current problem. Seeking to gain knowledge regarding the culture influences helps in obtaining information concerning the lifelong process that is primarily based on the knowledge of one culture (Coutinho et al., 2013). The outcome of the patients health practices and beliefs including religion preferences, medicinal use of foods, communication needs and other alternative medication use helps the asthma care provider to create a trusting environment, which favors open communication (Gupta et al., 2012). References Alexander, A. G., Barnes, P. J., Chung, K. F., Flower, R. J., Garland, L. G., Goldie, R. G., ... Lulich, K. M. (2012).Pharmacology of asthma(Vol. 98). Springer Science Business Media. Coutinho, M. T., McQuaid, E. L., Koinis-Mitchell, D. (2013). Contextual and cultural risks and their association with family asthma management in urban children.Journal of Child Health Care, 1367493512456109. Gupta, A., Bush, A., Hawrylowicz, C., Saglani, S. (2012). Vitamin D and asthma in children.Paediatric respiratory reviews,13(4), 236-243. Kennedy, J. L., Heymann, P. W., Plattsà ¢Ã¢â€š ¬Ã‚ Mills, T. A. (2012). The role of allergy in severe asthma.Clinical Experimental Allergy,42(5), 659-669. Meln, E., Pershagen, G. (2012). Pathophysiology of asthma: lessons from genetic research with particular focus on severe asthma.Journal of internal medicine,272(2), 108-120. Redwood, T., Neill, S. (2013). Diagnosis and treatment of asthma in children.Practice Nursing,24(5), 222-229.

The Worthwhile Price of Slavery Hurston As Provocateur Essay Example

The Worthwhile Price of Slavery: Hurston As Provocateur Essay Zora Neale Hurston’s essay â€Å"How It Feels to Be Colored Me† is provocative for a number of reasons.   Its tone—at once humble and thoughtful and playful—leaves the reader feeling dizzy when they see Hurston calling slavery the price of admission to civilization, and one that she does not dwell on because it was paid for by her ancestors so that she may benefit.   If one had to define a given thesis on Hurston’s part, it would be that race is a construct of any given participant in civilization.   At the end of the essay, she likens herself to an empty brown bag that is being held by the reader, who must determine what was once in the bag—precious diamonds, or broken glass?   It is very philosophical in nature, because the answer Hurston posits is that it doesn’t matter at all: the potential value of the former contents of a human being is a way of commoditizing what they could or should be, and ignoring the reality of the b ag itself.   However, this thesis—beneath the vibrant, flowery prose of Hurston—is quite lacking in clarity.Part of this lack of clarity is, of course, placing the thesis at the end.   Hurston likely assumed that readers could only interpret its deeper meaning after she had provided both examples and context, yet the lack of an exact thesis renders many of her statements more questionable than illuminating.   The first, as mentioned above, is that slavery was a worthwhile price of admission to civilization.   While many prominent black leaders (most notably Washington Carver) advocated attempts to put slavery firmly in the past where it belonged, Hurston’s claim that it both had no relevance and   did not affect her comes across as selfish, at best.   Only at the end do readers realize that slavery is something else that they are attempting to stuff back into the brown bag of black identity in order to impose a narrative on an unknown culture.   Hu rston’s techniques are tied into her evidence, in that both are murky specifically because she imbues the piece with so much emotion.   The one-girl minstrel show that was young Hurston performing for white tourists has its political sting removed by the sheer happiness she says it brings her.   Similarly, the admission that vibrant jazz music makes her feel like a murderous jungle inhabitant (something ripped from the pages of the worst white stereotypes) is complicated by the pity directed at her white friend who seems incapable of feeling anything at all.   Overall, the organization of the essay feeds the lack of clarity—while there is a loose chronological structure to the essay (going Hurston as a young girl to a young woman to presumably present day), the presentation of these loose vignettes amounts to a series of snapshots, with no way of animating the still images to bring them into the vibrant life Hurston speaks of.Despite this lack of clarity and cohe sion, Hurston’s argument is very effective.   She has, of course, a built in ethos—no one can countermand her examples of what her own life feels like.   Hurston also seems to use her own life as a template for other African Americans to follow her lead: through humor, she points to everything she has to celebrate in her own life, and even places racism and discrimination on this same scale.   Racists, she seems to say, simply deny themselves the joy of her presence.   While this is unfortunate for the racists, it is not compelling evidence that she should eliminate or diminish her own joy.   When seen through the lens of focusing on emotional moments of joy, the scattershot organization of the essay begins to make sense: Hurston is not attempting to provide a detailed biography of her own life, but wishes to â€Å"zoom in† enough so that those who think they will find reasons to pity her see instead why she pities those who will never know or experien ce the joys she has known and experienced.Though I certainly agree with the effectiveness of Hurston’s essay, I am afraid I cannot agree with the idea that slavery, as an issue, is dead and buried, even in the twenty-first century.   No matter how well meaning the message is, truly putting slavery in the past could have tragic effects on modern culture, such as overturning Affirmative Action laws that are still needed to arbitrarily stabilize the racist hiring practices of certain regions.   The root idea of slavery—that blacks are somehow not entirely human—still seems more widespread than one would imagine; there are, after all, still â€Å"whites only† Proms, and a number of private schools that owe their origin to the desegregation of public schools.   If for no other reason, these circumstances show why slavery should never be forgotten, or forgiven.   It remains a shameful chapter of our nation’s history, but also shows the terrible c onsequence of assuming that any one person is worth more than another.   In short: Hurston’s advocating that we live in the present and do not let ourselves be dragged into the tragedies of the past would strike more true if the tragedies of the past (in the form of racism, discrimination, and other centuries-old ghosts) did not continue to haunt the present.   For many, being â€Å"colorblind† does not mean treating all races equally, as it should; rather, it means being willfully blind to the issues that continue affecting minorities, rather than working to move towards a future of equity and integration.   Only through reminders of the horrors of the past can the glories of the future be seen.Zora Neale Hurston’s essay provided a valuable insight into something that history is rarely (if ever) able to shed light on: what being colored in a society of discrimination felt like, as opposed to simply what being colored was, or what discrimination was.   H er reaction to such discrimination is a testament to her character and integrity: she did not react with the fear and hatred being directed at her, nor did she succumb to the misery and loathing that would seem perfectly natural, considering the circumstances.   Instead, she described the indescribable joy of being Zora Neale Hurston, and provided a kind of Zen puzzle to readers in the form of her brown bag analogy.   Discrimination, racism, and even well-meaning folks who are unable to move past slavery are all effects of attempting to fill a bag that is already empty.   Moreover, it is completely arbitrary: assuming a black person’s bag was filled with glass and a white person’s bag was filled with diamonds is an exercise in willing self-ignorance, as it ignores the simple reality that the bags are now empty.   According to Hurston, only when individuals recognize this can there be true integration.

Prothesis in English grammar

Prothesis in English grammar Prothesis is a term used in phonetics and phonology to refer to the addition of a  syllable  or  a sound (usually a vowel) to the beginning of a word (for example, especial). Adjective: prothetic. Also called intrusion or  word-initial epenthesis.   Linguist David Crystal notes that the phenomenon of prothesis is common both in historical change  . . .  and in connected speech (A Dictionary of Linguistics and Phonetics, 1997).   The opposite of prothesis is aphesis  (or  aphaeresis  or procope)that is, the  loss of a short unaccented vowel  (or syllable) at the beginning of a word.   The intrusion of an extra sound at the end of a word (for example, whilst) is called epithesis or  paragoge. The intrusion of a sound between two consonants in the middle of a word (for example, fillum for film) is called anaptyxis or, more generally, epenthesis. Examples and Observations And its a hard, and its a hard, its a hard, its a hard,And its a hard rains a-gonna fall.(Bob Dylan, A Hard Rains A-Gonna Fall. The Freewheelin Bob Dylan, 1962)My characters will hence forth go afishing, and they will read Afield Astream. Some of them, perhaps all of them, will be asexual.(E.B. White in a letter to a New Yorker editor who changed the word fresh to afresh in one of his essays)[A prothetic sound is a vowel etc.] that has developed historically at the beginning of a word. E.g. the e of establish is in origin a prothetic vowel in Old French establir, from Latin stabilire.(P.H. Matthews, Oxford Concise Dictionary of Linguistics, 2nd ed. Oxford University Press, 2007)Old fond eyes, beweep this cause again.(King Lear in The Tragedy of King Lear, by William Shakespeare)

Controversy analysis Essay Example | Topics and Well Written Essays - 1250 words - 1

Controversy analysis - Essay Example e accept that although the invention of e-books was a crucial idea, their invention does not guarantee that they will substitute printed books.(Catone) In addition, a number of researchers have confirmed that most e-books are a copy of certain printed books. In other terms, most e-books are available due to the existence of a certain printed book (Catone). The central issue on this paper then gets to be, do print books have any chances to survive with the invention of electronic books? In the year 2010, it was accounted for that sales of electronic books (e-books) had surpassed those of print books. A late overview directed by the PCIR in December 2010 demonstrated that nearly 50% of Americans aged 14 or more had got access to some electronic content. In the following year, the above figure indicated massive increment. The increase in digital book deals and notoriety, coupled with the decrease of print books, raises different purposes of concern. Will e-books supplant print books? Have individuals surrendered print for e-books? Who is liable to receive e-books and why? The point of this paper is to address these inquiries by analyzing the readership and inclination for e-books and print books. The aim of this piece is to discourse on the controversy surrounding the fate of the print books in an attempt to answer the question: will eBooks replace real books? In retrospect, the first writing was done on walls and cave drawings by the early man and for obvious reasons these lacked malleability, portability and indeed many other conveniences of later books. The beginning of the greeks and Roman scholars used stone tablets, then in different periods of history moved to papyrus and parchment, and more recently paper (Warren 128). As a mode of writing became more sophisticated with the change from pictographs to ideographs and eventually modern alphabets and characters there was a demand for a more flexible printing media. While for the past centuries the paper has

European Union Law Essay Example | Topics and Well Written Essays - 5000 words

European Union Law - Essay Example Negligence need not be proved. Any damages so awarded should include an element for pain and suffering and also for loss of wages past, present and future. The Act excludes liability for loss of wages. It also imposes the burden of proof on the victim to prove his/her case. Both the Directive and the Act were intended to replace the existing national laws of negligence in relation to the Product. In May 2004, Byrd was prescribed a mild sedative by his doctor as he was suffering from work-related stress. The Product was manufactured by Omnia Pharma PLC (â€Å"Omnia†) a company registered in England. Two weeks after starting the treatment, Byrd developed a skin complaint, suppurating psoriasis, which was painful and also unpleasant to look at. As a result, he became a recluse and was dismissed for persistent absence by his employers. Thereafter, he attempted to commit suicide but was discovered in time. He is still very disturbed mentally. The starting point is to consider what directives are, how they are implemented and what the overall effect of directives is. In order to deal with the above it is necessary to examine the law regarding the binding nature of Directives. It is also necessary to examine the implementation of the Directive and discuss whether there has been any breach by the company. If a breach is established it will then be possible to assess what losses the company will be liable for in respect of the claim by Byrd. A discussion on direct and indirect effect is also essential in order to establish whether Byrd can claim under either of these headings. In order to be able to assess whether Francovich damages would be the most effective claim against the UK there needs to be a discussion on what Francovich damages are and when these can be claimed. To be able to decide whether a directive is binding it is necessary to understand what a directive is. A directive has been

Impact of Taxation on Dividends

Impact of Taxation on Dividends Abstract: This research paper attempts to analyze the different tax systems and their impact on the dividend distributions. It is explained that the dividend payout is monotonically distributed across tax regimes as the firms in double taxation (classical) system have significantly lower payouts than companies in the partial-imputation system, while companies in the full imputation system pay the highest payouts. Our results hold when the other fundamental determinants of dividends are held through Lintnerà ¢Ã¢â€š ¬Ã¢â€ž ¢s model and the actual payout ratio. Overall, it is reported that the type of dividend tax system affect the dividend payout. Introduction: The tax burden on dividends depends on corporate and personal income tax systems. In a classical system, the total tax is the sum of the corporation tax, the effective capital gains tax and the tax on dividends. Typically the tax on dividends exceeds the gains tax creating an incentive to reduce dividends. In an imputation system on the other hand, the total tax is given by the corporation tax plus the effective gains tax plus the reduced dividend tax. If the reduction in the tax on dividend is large enough to make reduced tax dividend lower than the effective capital gains tax, an incentive to increase dividends is created. Understanding the impact of taxes on dividend policy is important for both academicians and practitioners. From academic perspective, the relevance of taxation will highlight the extent to which companies consider the after tax return of their shareholders and how any tax reform will affect the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s dividend payouts. For practitioners, knowing how taxation affects dividends is also of considerable interest. Since shareholders are taxed differently, if stock prices reflect the tax status of one particular group of investors, other groups can take advantage of these differences by, namely trading around the ex-dividend dates to capture/avoid dividends. Moreover, understanding the impact of dividend taxation will be important for fund managers and analysts as changes in tax codes could affect the net returns and the relative pricing of securities. Most countries around the world adopt different systems of taxing dividends. Some follow a classical tax system where corporate income is treated differently from personal income in terms of statutory tax rate and deduction rules, others use some level of integration between corporate and personal income. The important distinction between these two different systems is the taxation of dividends. Countries that follow the classical system separate shareholders income from the income of their corporations. As a result the same unit of earning in the company is taxed twice when it is paid as dividend: first at the corporate level and then at the personal level; a disadvantage known as à ¢Ã¢â€š ¬Ã…“double taxationà ¢Ã¢â€š ¬?. In contrast, countries that follow a more integrated system usually have a full or partial relieve from dividend tax in consideration of the fact that the same unit of earning has been taxed at the corporate level. In Pakistan, the system of double taxation (cla ssical system) is implemented i.e. the dividends are taxed on corporate level and then the same unit of earning is taxed at shareholder level. Background More than forty years ago, Miller and Modigliani (1961) showed that, after some assumptions, such as complete and perfect capital markets, a firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s dividend policy does not affect its value. While this theory has highlighted the five main factors that could affect dividends, namely signalling, agency costs, behavioral (catering and mental accounting) and taxation, the empirical evidence provided to-date on such effects is mixed, (Allen and Michaely (2006) and Graham (2003). In particular, while in theory taxation is expected to prevent companies from paying dividends, most previous empirical studies have shown that taxation plays a minor role in dividend decision (e.g. Brav et al., (2005), Fama and French (2001), Julio and Ikenberry (2005). Therefore it is not clear why companies still pay dividends despite their heavy tax burden. In this paper, the dividend tax systems is analyzed and test the hypotheses that, in countries where the tax burden on dividends is high, companies pay low dividends. Although dividends may have a tax disadvantage, previous studies show that shareholders react positively to dividend increases and negatively to dividend decreases (e.g. Michealy, Thaley and Womack (1995). Long (1978) provides evidence that in dual class shares, investors favor cash dividend over stock dividend stocks. The tax disadvantage of dividends and yet their popularity challenges the traditional policy of payout policy. Blackà ¢Ã¢â€š ¬Ã¢â€ž ¢s (1976) dividend puzzle discusses the weaknesses of the finance theory in answering the simple question, why firms subject to a classical tax system to pay dividends? Some studies explain dividends away from taxes. For example Lintner (1956) in his classical study, shows that firms adopt a subjective target payout policy by decreasing dividends very slowly and hardly ever cut them. Models based on information asymmetry suggest that dividend changes provide information about the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s future cash flows (Bhattacharya (19 79) and Miller and Rock (1985) or about the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s cost of capital and/or maturity stage (Grullon, Michaely and Swaminathon (2002), Grullon and Michaely (2000). From the agency theory perspective, dividends provide a disciplining tool to reduce agency costs (Easterbrook (1984) and Jensen (1986). Behavioral finance theory suggests that dividends are paid in part to accommodate certain biases in individuals such as market sentiment (Baker and Wurgler (2004) or self control, mental accounting and regret avoidance (Shefrin and Statman (1984). Taxation moel suggests that if dividends are taxed at a higher rate than capital gains, firms should prefer to retain earnings or buy back shares (e.g. Auerbach (1979), Bradford (1981) , Auerbach and Hasset (2003), Lasfer (1996). Literature Review: To assess the impact of dividend tax on investment and financial policy of the firm, the literature has followed three basic approaches. The first approach is to examine the relation between the risk-adjusted pretax rate of return and dividend yield. If dividend tax is relevant and if dividends are taxed at a higher rate than capital gain, than pretax return should increase in proportion to dividend yield to compensate for dividend tax disadvantage. Black and Scholes (1974), Gordon and Bradford (1980), and Miller and Scholes (1982) did not find evidence that the tax differential between dividends and capital gain have an impact on pretax returns, while Lintzenburger and Ramaswamy (1979) find evidence to the contrary. The second approach is to examine the ex-dividend behavior of stock prices. Absent dividend tax, the value of a stock should fall by the full amount of the dividend on the ex-dividend day. Elton and Gruber (1970) provide evidence that US stock prices fall by less than th e full amount of the dividends on the ex-dividend day. Poterba and Summers (1985) and Lasfer (1996) show similar results. Other studies did not find evidence that the tax differential between dividends and capital gains have an impact on the ex-dividend behavior, for example, Hearth and Rimbey (1993), Lakonishok and Vermaelen (1983). The third approach is to employ event study analysis. Changes in tax laws provide a natural experiment for investigating the impact of dividend tax on investment and financial decision. Poterba and Summers (1985) show that higher dividend tax is associated with lower investment and dividends. Poterba (2004) study shows that the tax disadvantage relative to capital gains has a negative effect on dividend payment. Blouin et al. (2004) study the impact of the 2003 tax reduction in the US and find dramatic increase in the regular dividends and the special dividends after enactment and a decline in the share repurchases. Chetty and Saez (2004) report on incr ease in the fraction of dividend payers following the 2003 dividend tax reduction. In Pakistan the system of double taxation is implemented on dividends, its comparison with countries implying other system of taxations is studied. Objectives: The objectives of this research paper are to find out the impact of taxation on dividend policy and its impact on the financial and investment decision of the firms. Research Question: Is the dividend payout ratio of firms in full or partial integration system higher than the dividend payout ratio of firms in double taxation system? Theoretical Framework: Dividend Payout Taxation (Independent Variable) (Independent Variable) (Dependent Variable) Hypotheses: H1: Dividend payout ratio is higher in full and partial integration systems than in classical system of taxation. H2: Dividend payout ratio is NOT higher in full and partial integration systems than in classical system of taxation. Hypotheses Testing: Unlike the full integration system, the classical system carries with it a disadvantage of double taxation. If tax on dividends has an impact on the financial policy of the firm, then firms in classical system will lower or avoid dividends as much as they can, while firms in full integration systems will not have to lower their dividends. Thus the hypothesis H1 is expected to be true. System No. of Firm Observations Net Tax Rate on Dividend (%)* Payout Ratio =DPS/EPS* Classical System 18 50% 0.32 Partial 15 42% 0.45 Full 17 35% 0.47 * = Subject to 10% level of significance Research Methodology: Population: Population includes observations that have been collected randomly from firms in 6 countries representing all the three types of taxation systems. Sample: It includes 50 observations, i.e. data has been collected randomly from 50 firms representing all the three taxation systems. Sources of Data Collection: The annual OECD tax database Corporate and Individual Taxes, A Worldwide Summary, Price Waterhouse Conclusions: The dividend payout policy of companies was analyzed that applies different tax systems with regard to dividends. It is found that companies located in countries that apply double taxation system (classical tax system) to have less dividend payout than do companies located in countries that try to partially avoid double taxation. In general, tax effect measured by the type of dividend tax treatment has a strong effect on the size of dividend payout.

Term Paper of Dbbl

Introduction: To finance their investments firms use retained earnings, new borrowings or the issue of stock. The financing decision involves i) dividend and ii) the capital structure. Dividend policy involves the decision to pay out earnings versus retaining them for reinvestment in the firm, and dividend policy decisions can have either favorable or unfavorable effects on the price of a firm’s stock. Cash distributions are made to stockholders form the firm’s earnings, whether those earnings were generated in the current period or in previous periods. Origin of the Report:During this semester of Summer 2010 in MBA program of East West University, we are required to submit a term paper in the course Corporate Finance: â€Å"An Appraisal of Dividend Policy and Capital Structure of An Organization†. We have chosen PRAN for our term project. Objectives of the Report: The general objective is to prepare and submit the term project within specified time by having an idea and over viewing the PRAN, their Dividend Policy and their Capital Structure. Scope of the Report: The scope is limited to over viewing PRAN their dividend policy and the Capital Structure they have adopted for their organization.Limitations of the Study: Secondary data were used in this study as result it may differ from actual data. As a group, we have also faced some difficulties in compiling and discussing it due to unavailability of all members at the same time. The absence of solid and verse knowledge about dividend policy is absent and we have taken it as an addition in our learning curve. Methodology: The report is originated from secondary data sources- 1. The Company’s Annual Report 2. DES website 3. Different Articles from Internet 4. Other related websitesCompany Profile PRAN: PRAN stands for Programme for Rural Advancement Nationally. â€Å"PRAN† is currently the most well known household name among the millions of people in Bangladesh and abroad also . Since its inception in 1980, PRAN Group has grown up in stature and became the largest fruit and vegetable processor in Bangladesh. It also has the distinction of achieving prestigious certificate like ISO 9001:2000, and being the largest exporter of processed agro products with compliance of HALAL & HACCP to more than 70 countries from Bangladesh.PRAN is the pioneer in Bangladesh to be involved in contract farming and procures raw material directly from the farmers and processes through state of the art machinery at our several factories into hygienically packed food and drinks products. The brand â€Å"PRAN† has established itself in every category of food and beverage industry and can boost a product range from Juices, Carbonated Drinks, Confectionery, Snacks, and Spices to even Dairy products.Today, our consumers not only value â€Å"PRAN† for its authentic refreshing juice drinks products, but also for its mouth watering quality confectionery products with high visual appeal and exciting texture. We intend to expand our presence to every corner of the world and strive to make â€Å"PRAN† a truly international brand to be recognized globally. The authorized capital of PRAN is BDT 50,000,000 and paid up capital is BDT 8,000,000. The proportion is given below: |Share Percentage | |Director /Sponsor |Govt. Institute |Foreign |Public | |42. 75% |0% |1. 27% |0% |55. 98% | [pic] Dividends: Dividend is that part of the profits of a company which is distributed amongst its shareholders. According to ICAI, â€Å"Dividend is a distribution to shareholders out of profits or reserves available for this purpose. † In other words we can say that a corporation makes Dividend payments to its shareholder. It is the portion of corporate profits paid out to its stockholders.When a corporation earns a profit at the end of a financial year, that profit can be uses by two different ways: it can either be re-invested in the business or it can be pai d to the shareholders as a dividend. Many corporations retain a portion of their earnings and pay the remainder as a dividend. Dividend Policy and Stock Value: There are various theories that try to explain the relationship of a firm's dividend policy and common stock value. Dividend policy is the policy a company uses to decide how much it will pay out to shareholders in dividends. A firm has different options to deal with its earnings.It can give all their earnings as dividend or it can retain all its earnings as retained earnings. The firm can also declare a portion of its earnings as dividend and can retain other portion as retained earnings. Dividends may be in the form of cash or stock. Most secure and stable companies offer dividends to their stockholders. Their share prices might not move much, but the dividend attempts to make up for this. High-growth companies  rarely offer dividends because all of their profits are reinvested to help sustain  higher-than-average  gr owth. Dividend Relevance Theory:The value of a firm is affected by its dividend policy – the optimal dividend policy is the one that maximize the firm’s value. Optimal Dividend Policy: Proponents believe that there is a dividend policy that strikes a balance between current dividends and future growth that maximizes the firm's stock price. Dividend Irrelevance Theory: The theory states that a firm’s dividend policy has no effect on either its value or its cost of capital. Bird-in-the-Hand Theory: It states that dividends are relevant. Remember that total return (k) is equal to dividend yield plus capital gains.Myron Gordon and John Linter took this equation and assumed that k would decrease as a company's payout increased. As such, as a company increases its payout ratio, investors become concerned that the company's future capital gains will dissipate since the retained earnings that the company reinvests into the business will be less. Gordon and Linter argued that investors value dividends more than capital gains when making decisions related to stocks. In this theory â€Å"the bird in the hand' is referring to dividends and â€Å"the bush† is referring to capital gains.The traditional argument in favour of dividend is the idea that dividends reduce risk because they bring shareholders’ cash inflows forward. Although shareholders can create their own dividends by selling part of their holdings, this entails trading costs, which are saved when the firm pays dividends. The risk reduction or bird in the hand argument is associated with Graham and Dodd (1951) and with Gordon (1959) and it is often defended as follows. By paying dividends the firm brings forward cash inflows to shareholders, thereby reducing the uncertainty associated with future cash flows.In terms of the discounted dividend equation of firm value, the idea is that the required rate of return demanded by investors (the discount rate) increases with the plough -back ratio. Although the increased earnings retention brings about higher expected future dividend, this additional dividend stream is more than offset by the increase in the discount rate. This argument overlooks the fact that the risk of the firm is determined by its investment decisions and not by how these are financed.The required rate of return is influenced by the risk of the investments and should not change if these are financed from retained earnings rather than from the proceeds of new equity issues. As noted by Easterbrook (1984), in spite of paying dividends the firm does not withdraw from risky investments, thus the risk is merely transferred to new investors. Reasons for Paying Dividends: 1. Clientele Effect: The investors in your company like dividends. 2. The Signaling Story: Dividends can be signals to the market that you believe that you have good cash flow prospects in the future. 3.The Wealth Appropriation Story: Dividends are one way of transferring wealth fro m lenders to equity investors (this is good for equity investors but bad for lenders) Types of Dividend Policies: 1. Constant-Payout-Ratio: Constant-Payout-Ratio is a dividend policy based on the payment of a certain percentage of earnings to owners in each dividend period. The problem with this policy is that if the firm’s earnings drop or if a loss occur, the dividend may low or nonexistent. 2. Regular Dividend Policy: Regular Dividend Policy is a dividend policy based on the payment of fixed amount of dividend in each period.It provides the owners with positive information, thereby minimizing their uncertainty. 3. Low Regular and Extra Dividend Policy: Low regular and Extra Dividend Policy refers to a dividend policy based on paying low regular dividend, supplemented by additional dividend when earnings are higher than normal in a given period. Nature of Dividend Decision The dividend decision of the firm is crucial for the finance manager because it determines: 1. The amo unt of profit to be distributed among the shareholders, and 2. The amount of profit to be retained in the firm. There is a reciprocal relationship between cash dividends and retained earnings.While taking the dividend decision the management take into account the effect of the decision on the maximization of shareholders' wealth. Maximizing the market value of shares is the objective. Dividend pay out or retention is guided by this objective. Factors Affecting Dividend Policy: A. External Factors B. Internal Factors A. External Factors Affecting Dividend Policy 1. General State of Economy: In case of uncertain economic and business conditions, the management may like to retain whole or large part of earnings to build up reserves to absorb future shocks.In the period of depression the management may also retain a large part of its earnings to preserve the firm's liquidity position. In periods of prosperity the management may not be liberal in dividend payments because of availability of larger profitable investment opportunities. In periods of inflation, the management may retain large portion of earnings to finance replacement of obsolete machines. 2. State of Capital Market: Favorable Market: liberal dividend policy. Unfavorable market: Conservative dividend policy. 3. Legal Restrictions: Companies Act has laid down various restrictions regarding the declaration of dividend:Dividends can only be paid out of: Current or past profits of the company. A company cannot declare dividends unless: It has provided for present as well as all arrears of depreciation. Certain percentage of net profits has been transferred to the reserve of the company. Past-accumulated profits can be used for declaration of dividends only as per the rules framed by the Central Government 4. Contractual Restrictions: Lenders sometimes may put restrictions on the dividend payments to protect their interests (especially when the firm is experiencing liquidity problems) B.Internal Factors af fecting dividend decisions 1. Desire of the Shareholders: Though the directors decide the rate of dividend, it is always at the interest of the shareholders. Shareholders expect two types of returns: [i] Capital Gains: i. e. , an increase in the market value of shares. [ii] Dividends: regular return on their investment. Cautious investors look for dividends because, [i] It reduces uncertainty (capital gains are uncertain). [ii] Indication of financial strength of the company. [iii] Need for income: Some invest in shares so as to get regular income to meet their living expenses. . Financial Needs of the Company: If the company has profitable projects and it is costly to raise funds, it may decide to retain the earnings. 3. Nature of earnings: A company, which has stable earnings, can afford to have a higher divided payout ratio 4. Desire to retain the control of management: Additional public issue of share will dilute the control of management. 5. Liquidity position: Payment of divid end results in cash outflow. A company may have adequate earning but it may not have sufficient funds to pay dividends. Apprising Dividend Policy of PRAN: Year |NI |EPS |Dividend Per |Dividend Payout Ratio | | |(in Millions) | |Share | | |2000 |33. 76 |42. 20% |20. 00% |47. 39% | |2001 |41. 99 |52. 49% |20. 00% |38. 10% | |2002 |43. 41 |54. 26% |25. 00% |46. 07% | |2003 |44. 39 |55. 49% |24. 00% |43. 25% | |2004 |40. 31 |50. 39% |24. 00% |47. 3% | |2005 |40. 77 |50. 96% |26. 00% |51. 02% | |2006 |28. 95 |36. 19% |26. 00% |71. 84% | |2007 |29. 33 |36. 66% |26. 00% |70. 92% | |2008 |35. 95 |44. 94% |28. 00% |62. 31% | |2009 |39. 97 |49. 96% |29. 00% |58. 05% | Table: 1 From the table 1 we see that in 2000 and 2001 PRAN have paid a cash dividend of BDT 20 per share in 2000 and 2001; in 2002 the dividend payment was BDT 25 per share.In 2003 to 2004 and 2005 to 2007 they have paid a cash dividend of BDT 24 and BDT 26 per share respectively. In the year 2008 and 2009 the cash dividend per share was BDT 28 and 29 respectively. Here we see that the dividend has increased in last two year, although the Net Income of the company decreased. However the EPS has also increased during the last two years and the same pattern can be seen in the Market Price of the share. [pic] Figure: 1 From figure 1 we can say that the dividend payment of the PRAN is certain and stable, regardless with earnings.As we see that despite of a drop in the earning in the year 2006 and 2007 the company maintained a constant cash dividend payment which is BDT 26 per Share and when the earnings increased in the year 2008 and 2009 the Dividend payment also increased. [pic] Figure: 2 The Dividend payout ratio indicates the percentage of each unit earned that a firm distributes to the owners in form of cash |Dividend Payout Ratio |= |Dividend Per Share | | | |Earnings Per Share |If we look at the figure 2 we see that to maintain a steady dividend payment per share each year they had to make a huge payme nt out of the Net Income. In 2006 and 2007 the dividend payout ratio was above 70% and in 2008 and 2009 it was above 58%. According to the Regular Dividend Policy the payment of the dividend is a fixed amount in each period. The Regular Dividend Policy also tries to establish to pay out a certain percentage of earnings, however it tries to stabilize the dividend by pay out a certain amount of dividend and it adjusts the dividend towards the target payout as proven earnings increases.In short we can say that PRAN is following the Regular Dividend Policy Constrains of Regular Dividend Policy: If we have a look at the figure 1 we see that the earnings of PRAN fluctuates year to year for this Regular dividend policy may sometimes prove dangerous. Once a company adopts the regular dividend policy, any adverse change in the dividend payment may result in serious damage regarding the financial standing of the company in the mind of the investors. The same problem is been experienced by PRA N despite of a drop in the earnings that they had to maintain the same amount of dividend.Appropriate type of Dividend Policy: A Stock market tends to be very efficient in the allocation of capital to its highest-value users. That market also helps increase savings and investment, which are essential for economic development. An equity market, by allowing diversification across a variety of assets, helps reduce the risk the investors must bear, thus reducing the cost of capital, which in turn spurs investment and economic growth. However, volatility and market efficiency are two important features which will ultimately determine the effectiveness of the stock market in economic development.In contrast to that the stock market of Bangladesh which is informationally inefficient, investors face difficulty in choosing the optimal investment as information on corporate performance is slow or less available. The resulting uncertainty induce investors either to withdraw from the market unt il this uncertainty is resolved or discourage them to invest funds for long term. Moreover, most of the time it is seen that investors are not rewarded for taking on higher risk by investing in the stock market, or excess volatility weakens investor’s confidence as a result they people avoid investing their savings in the stock market.Due to the imperfect market and the uncertainty of return the investors always aim for short term investment as a result they prefer dividend rather maximizing the firm’s wealth. The regular dividend policy, which ensures a fixed amount of dividend to be paid to the investor regardless to the company’s income during the period, helps to reduce the uncertainly for the investors. For this the Regular Dividend Policy is the appropriate for PRAN. Year |Net Asset Value Per |EPS |Dividend Per Share |Bonus Share |Market Price Per | | |Share | | | |Share | |2000 |258. 39 |42. 20% |20. 00% |- |416. 50 | |2001 |284. 60 |52. 49% |20. 00% |- | 370. 00 | |2002 |312. 82 |54. 26% |25. 00% |- |366. 00 | |2003 |343. 9 |55. 49% |24. 00% |- |412. 00 | |2004 |362. 27 |50. 39% |24. 00% |- |523. 50 | |2005 |386. 55 |50. 96% |26. 00% |- |519. 25 | |2006 |396. 11 |36. 19% |26. 00% |- |386. 00 | |2007 |383. 91 |36. 66% |26. 00% |- |382. 63 | |2008 |428. 9 |44. 94% |28. 00% |- |1142. 00 | |2009 |449. 96 |49. 96% |29. 00% |- |1363. 00 | Net Asset Per Share Vs. Market Value Per Share: Table: 2 From the table 2 we can say that PRAN has never issued any Bonus shares from 2000 to 2009. However they have maintained a steady dividend payment that shows a positive slope. The market price is very fluctuating in 2005 the MV was 519. 25 but in 2006 it went down to 386. 00, in 2007 it was 382. 63 but in 2008 the MV was 1142. 00. [pic]Figure: 2 From the figure 2 we see that till 2007 the Share Market Price and the Net Asset Value Per share is very close however from 2008 the difference between the Market Price and Net Asset value per Share increase d despite of a drop in the Net Income. In the year 2008 and 2009 the corporation has paid a cash dividend of BDT 28 and 29 per share respectively and the EPS in 2008 was 44. 94% and in 2009 was 49. 96. From the above mentioned information we can say that there is a high possibility that the reason behind the increase in the market price of the share imperfect market condition in the Capital Market in Bangladesh.The imperfect market situation might be the result of Syndication or by spreading rumor in the market, which caused the Share Price of PRAN to go up. Capital Structure: In finance, capital structure refers to the way a corporation finances its assets through some combination of equity, debt, or hybrid securities. In other words we can say that Capital Structure is the mix of a company's long-term debt, specific short-term debt, common equity and preferred equity. The capital structure is how a firm finances its overall operations and growth by using different sources of funds .Debt comes in the form of bond issues or long-term notes payable, while equity is classified as common stock, preferred stock or retained earnings. Short-term debt such as working capital requirements is also considered to be part of the capital structure. For example, a firm that sells BDT 20 billion in equity and BDT 80 billion in debt is said to be 20% equity-financed and 80% debt-financed. The firm's ratio of debt to total financing, 80% in this example is referred to as the firm's leverage. In reality, capital structure may be highly complex and include dozens of sources.Gearing Ratio is the proportion of the capital employed of the firm which come from outside of the business finance, e. g. by taking a short term loan etc. A company's proportion of short and long-term debt is considered when analyzing capital structure. When people refer to capital structure they are most likely referring to a firm's debt-to-equity ratio, which provides insight into how risky a company is. Us ually a company more heavily financed by debt poses greater risk, as this firm is relatively highly levered.The Modigliani-Miller theorem, proposed by Franco Modigliani and Merton Miller, forms the basis for modern thinking on capital structure, though it is generally viewed as a purely theoretical result since it assumes away many important factors in the capital structure decision. The theorem states that, in a perfect market, how a firm is financed is irrelevant to its value. This result provides the base with which to examine real world reasons why capital structure is relevant, that is, a company's value is affected by the capital structure it employs.Some other reasons include bankruptcy costs, agency costs, taxes, and information asymmetry. This analysis can then be extended to look at whether there is in fact an optimal capital structure: the one which maximizes the value of the firm. Capital structure in the real world if capital structure is irrelevant in a perfect market, then imperfections which exist in the real world must be the cause of its relevance. The theories below try to address some of these imperfections, by relaxing assumptions made in the M model.Capital Structure Theory: Trade-off theory of capital structure Trade-off theory allows the bankruptcy cost to exist. It states that there is an advantage to financing with debt (namely, the tax benefit of debts) and that there is a cost of financing with debt (the bankruptcy costs of debt). The marginal benefit of further increases in debt declines as debt increases, while the marginal cost increases, so that a firm that is optimizing its overall value will focus on this trade-off when choosing how much debt and equity to use for financing.Empirically, this theory may explain differences in D/E ratios between industries, but it doesn't explain differences within the same industry. Pecking order theory Pecking Order theory tries to capture the costs of asymmetric information. It states that co mpanies prioritize their sources of financing (from internal financing to equity) according to the law of least effort, or of least resistance, preferring to raise equity as a financing means â€Å"of last resort†.Hence: internal debt is used first; when that is depleted, then debt is issued; and when it is no longer sensible to issue any more debt, equity is issued. This theory maintains that businesses adhere to a hierarchy of financing sources and prefer internal financing when available, and debt is preferred over equity if external financing is required (equity would mean issuing shares which meant ‘bringing external ownership' into the company. Thus, the form of debt a firm chooses can act as a signal of its need for external finance.The pecking order theory is popularized by Myers (1984)[1] when he argues that equity is a less preferred means to raise capital because when managers (who are assumed to know better about true condition of the firm than investors) is sue new equity, investors believe that managers think that the firm is overvalued and managers are taking advantage of this over-valuation. As a result, investors will place a lower value to the new equity issuance.. Agency Costs: There are three types of agency costs which can help explain the relevance of capital structure.Asset substitution effect: As D/E increases, management has an increased incentive to undertake risky (even negative NPV) projects. This is because if the project is successful, share holders get all the upside, whereas if it is unsuccessful, debt holders get all the downside. If the projects are undertaken, there is a chance of firm value decreasing and a wealth transfer from debt holders to share holders. Underinvestment problem: If debt is risky (e. g. , in a growth company), the gain from the project will accrue to debt holders rather than shareholders.Thus, management has an incentive to reject positive NPV projects, even though they have the potential to i ncrease firm value. Free cash flow: unless free cash flow is given back to investors, management has an incentive to destroy firm value through empire building and perks etc. Increasing leverage imposes financial discipline on management. Other The neutral mutation hypothesis—firms fall into various habits of financing, which do not impact on value. Market timing hypothesis—capital structure is the outcome of the historical cumulative timing of the market by managers.Accelerated investment effect—even in absence of agency costs, levered firms use to invest faster because of the existence of default risk. Primary Factors influencing the Capital Structure: 1. Business Risk: It is the risk associated with the unique circumstances of a particular company, as they might affect the price of that company's securities. If the business risk is higher than the optimal debt amount will be lower. 2. Tax Position: It is the second key factor.The major reason for using debt i s that the interest is tax deductable which helps to lower the effective cost of debt. However, if much of a firm’s income is already sheltered from taxes by accelerated depreciation or tax loss carried forward from previous years, its rate will be low, as a result debt will not be advantageous as it would be to a firm with higher effective tax rate. 3. Financial Flexibility: It indicates a firm’s ability raise capital on reasonable terms under adverse conditions. 4. Managerial Attitude: It is the firm’s attitude to borrowing fund.Some of the firms are more aggressive than others; hence, some firms are more inclined to use debt in an effort to boost profit. This factor does not affect the optimal capital structure or value-maximizing, however it does influence the firm’s target capital structure. Evaluating the Capital Structure of PRAN: The debt-to-equity ratio (D/E) is a financial ratio indicating the relative proportion of shareholders' equity and debt used to finance a company's assets. Closely related to leveraging, the ratio is also known as Risk, Gearing or Leverage. Year |Equity |Debt |Debt to Equity Ratio|NI |EPS | | | | | |(in Millions) | | |2005 |330. 04 |165. 94 |33. 46% |40. 77 |50. 96% | |2006 |337. 69 |152. 59 |31. 12% |28. 95 |36. 19% | |2007 |327. 93 |114. 00 |25. 80% |29. 33 |36. 66% | |2008 |342. 71 |92. 9 |21. 25% |35. 95 |44. 94% | |2009 |359. 97 |138. 99 |27. 86% |39. 97 |49. 96% | Table: 3 From the table: 3 we can say that that in 2005 when the D/E ratio was 50. 96% the company experienced the highest EPS. If we compare the D/E ratio and the EPS of 2008 and 2009 we see that in 2009 the debt ratio has increased by 6. 61% which had a positive effect on the EPS as a result the EPS increased by 5. 02%. It shows that when the D/E ration increases the EPS also increases.If we look at the graphical presentation it will be easier for us to understand which is given below. [pic] Figure: 4 If we take the average of the D/E ratio from 2005 to 2009 we see that on average PRAN is maintaining a D/E ratio of 27. 90%. In short we can say that 27. 90% of the total equity is financed by Debt. It means that the PRAN is moderately aggressive towards the debt financing. As a result they have a lower Financial Risk and higher Business risk. Conclusion: PRAN is one of the reputed companies in the Dhaka Stock Exchange and they fall under the Category â€Å"A†.From year 2000 to 2009 PRAN has always have paid cash dividend however they have never paid stock dividend. PRAN is maintaining a reserve capacity Dividends can be used to budge assets out of the company and consequently from the potential allege of creditors which can be injurious to creditor wealth, and creditors will beyond a shadow of a doubt take pricing or contractual actions to offset these latent uses of dividends. The contemplations of signaling, agency and the effects of market imperfections upon optimal dividends are imperative dimensions about which financial managers must be sentient. Recommendations:Cash and stock dividend, both should be paid without fail. Our stock market is not an efficient market. The available information most of the times do not lead to the desired reality. Many investors believe on the rumors and invest in the share market. Security Exchange Commission should take proper steps to minimize this condition. Disclosure of the overall market price in the annual report is desirable. The company can ideas from its investors to improve the situation and thereby engaging them in the part of the decision making process. Issuing of bonus shares can be a good option to attract the potential investors.

Made in china

I have never really been one for politics and economics.   Being neither a politician nor an economist, I have never really understood the mechanics of all these deals.   I have always felt that these things are better left to the experts.   Be that as it may, however, the effects and ramifications of all these economic negotiations and deals have invaded into my personal life.   I never expected it to happen but during a recent camping trip of mine I found out just what the trade relations between the United States and China really means in the life of everyday people. It started on a nice and sunny day in the middle of spring.   I was looking forward to the annual camping trip that I and my friends went to.   While we believed in roughing it, we also believed in living with a few luxuries that civilization had made us accustomed to.   In the spirit of â€Å"roughing† it, we had set a limit as to how much we could spend on the items that we were to bring on the trip.   The budget per person was around US $200.   We figured that by setting a cap spending limit we would stick to the bare necessities and experience what it was like to really enjoy camping. In hindsight, I realize that the budget of US $200 that we had set was pretty lean, to say the least.   We had to do away with the usual items that we were used to buying such as portable television sets and the like.   Yet, as we entered the camping goods store, we noticed something different.   There were now so many other cheap goods on sale in the store.   Needless to say, since we had a limited budget, we were overjoyed to realize that we could now splurge on a few more â€Å"essential† items for our camping trip. At the check out counter, we had purchased so many other extra goods.   Aside from the basics such as a tent, flashlight, lamp, sleeping bag and disposable dinner ware, we had also purchased a portable television set, radio speakers and electric generator. As anyone would have guessed, these additional luxury items were made in China.   We never expected that we could buy all these things at a fraction of the price that the same American goods were sold.   In fact, the thing that surprised us the most was the proliferation of these goods into almost every camping goods store in the vicinity. The real lesson on the impact of the United States and China trade relationship was not to be experienced until the camping trip itself. The first few minutes of the trip were relatively uneventful.   We unpacked the items and assigned members to handle the setting up of the various items such as the generator and the tents.   As soon as the basics were set up, we decided to give our new gadgets a go, so to speak.   The first item to screw up was the portable television.   After several minutes of trying to find the right signal, the television set decided that it was also a toaster and it began to emit smoke from the rear panel.   It was not long before the sparks started to fly. Much to ours surprise, the radio speakers soon followed suit, dangerously close to the sleeping bags.   Like clockwork, the generator also followed suit and soon all our made in China goods were either smoking or ablaze. We were left with none of the luxuries that we wanted and only the basic goods that we required for our camping trip.   While a few embers had fallen on the sleeping bags and the tents, they were left relatively un-singed.   The relatively expensive goods by comparison that were made in the United States lasted while the cheap goods from China had broken down even before we had begun to use them. It was that moment that I realized what was really going on in the United States and China trade relationship from an economic and political point of view.   The influx of cheap Chinese goods was a result of the open trade relations that allowed these goods to enter.   The expanded distribution was caused by the relatively low prices that these goods had. I also realized that these things were necessary because trade relations pretty much govern the political relations that countries have with each other.   In order for the United States to tap into the market of China, certain concession had to be made such as allowing trade reciprocity.   The cost of such deals, however, can really be experienced by the normal people such as me.   As the law of supply and demand shows, cheaper is not really better and quality comes at a price.   This I