Analysis Of Edgar Allan Poe And Emily Dickinson - 1203 Words

Edgar Allan Poe and Emily Dickinson were phenomenal Early American poets whose poems were in some ways similar in subject matter. However, they were a world apart in writing styles, and they both shared a common thread known today as Bipolar Disorder or Manic Depression. According to the description on MedicineNet.com Bipolar disorder is â€Å"Alternating moods of abnormal highs (mania) and lows because of the swings between these opposing poles in mood and a type of depressive disease. Sometimes the mood switches are dramatic and rapid, but most often they are gradual. Mania often affects thinking, judgment, and social behavior in ways that cause serious problems and embarrassment†. Mania includes increased energy, feelings of grandeur, intense happiness, irritability, sleeplessness and excitement. Depression on the other hand may include but is not limited to anxiety, melancholy, crying, and thoughts of suicide and death. Having Bipolar Disorder can also bring a heightened ability towards creativity in some individuals, as research is now finding out. Even though bipolar disease was not known during the time of these writers, you can look to their poetry and lives to see that they were suffering from the disease. They are well described today as tortured geniuses. In an article in The Baltimore Sun they quote that Dr. Jamison in â€Å"Touched With Fire† as writing [T]here is strong scientific and biographical evidence linking manic-depressive illness and its relatedShow MoreRelatedNathaniel Hawthorne s The Mind1900 Words   |  8 Pagesmesmerized by. These men were very successful writers and shared many of the same techniques within their stories. Carl Jung was born July 26, 1875, he died June 6, 1961. He was known for studying the human psychology. He was mainly interested in dream analysis and the collective unconscious. Carl Jung is another successful writer, during his career he was able to meet Sigmund Freud who was a huge inspiration to him. All three men Sigmund Freud, Nathaniel Hawthorne, and Carl Jung all had the same generalRead MoreDeath Is Death And The Idea Of Death1290 Words   |  6 Pagesdeath. Human nature tends to fear things unknown and death is certainly an unknown except for the truth that death, one day, will come to you. When you begin to think of the death motif in writings one author that immediately comes to mind is Edgar Allen Poe. Poe often talks about death and beauty where the much of the focus and narration is placed on a recently deceased younger woman character without the woman’s physical presence in the poem. Works like â€Å"The Raven† â€Å"Annabel Lee† and â€Å"The Tell TaleRead MoreOutline Of A Literary Analysis Of The Insane Connection 992 Words   |  4 PagesOutline Structure for Literary Analysis Essay The insane connection II. Paragraph 1: Introduction (Use HATMAT) A. HOOK!! B. Authors Edgar Allan Poe and Emily Dickinson both use structural choices repetition, punctuation, and tone to shape the central idea of madness. C. Within â€Å"The Tell-tale heart† and â€Å"I felt a funeral in my brain† both writers write about the death of someone or something. D. Neither stories state the narrators’ names but throughout the stories, both are in first person pointRead MoreAnalysis Of Walt Whitman s I Hear America Poem1314 Words   |  6 PagesIndependence, Walt Whitman s I Hear America poem, and argumentative essays, like out The Raven analysis. We also gave speeches– that was the hardest for me, in my previous English classes, none of them made me go in front of the class and present–, made infograph, and even a multigenre project. We also can’t forget the books we’ve read in class, like poems from Emily Dickinson, Walt Whitman, Edgar Allan Poe, and novels from F. Scott Fitzgerald, and we can’t forget novella like Of Mice and Men or shortRead MorePoetry Essay Prompt2545 Words   |  11 Pagesgroundhog. Develop your essay with specific references to the text of the poem. 1983 Poem: â€Å"Clocks and Lovers† (W. H. Auden) Prompt: Write a well-organized essay in which you contrast the attitude of the clocks with that of the lover. Through careful analysis of the language and imagery, show how this contrast is important to the meaning of the poem. 1984 NO POEM 1985 Poems: â€Å"There Was A Boy† (William Wordsworth) and â€Å"The Most of It† (Robert Frost) Prompt: These two poems present encounters with natureRead MorePoems with Theme with Life and Death and Their Analysis8446 Words   |  34 PagesEI WAI KHAING AN ANALYSIS OF THEMES ON LIFE AND DEATH OF SOME POEMS Abstract: Some basic elements of poem and types of poem are included in this paper. Although there are countless number of poems on Life and Death, only the ones which seem noteworthy are studied and analysed in terms of themes. Different opinions of different poets on life and death found in their poems are also presented and contrasted in this paper. This paperRead MoreCritical Essay on How Do I Love Thee?3017 Words   |  13 Pagesmethod used for this critical analysis. Mainly trying to focus the attention on the story behind the poem, more so, the story the poem tells. Another focal point is the story of how the poem was derived, where the title came from, and the story of her eternal love for her husband. This approach is used to find the purpose and meaning, the setting, and theme of the poem. Along with the dramatic approach, planned survey is used as a description tool. This provides the analysis of this artifact with structureRead MoreANALIZ TEXT INTERPRETATION AND ANALYSIS28843 Words   |  116 Pagesï » ¿TEXT INTERPRETATION AND ANALYSIS The purpose of Text Interpretation and Analysis is a literary and linguistic commentary in which the reader explains what the text reveals under close examination. Any literary work is unique. It is created by the author in accordance with his vision and is permeated with his idea of the world. The reader’s interpretation is also highly individual and depends to a great extent on his knowledge and personal experience. That’s why one cannot lay down a fixed â€Å"model†Read MoreAmerican Revolution and Study Guide Essay example5377 Words   |  22 Pages(Hint: refer to the Stamp Act riots-1765, â€Å"virtual representation) 10 points Vocabulary: John Hancock Marquis de Lafayette Abigail Adams Royal Veto Declaratory Act Quartering Act Boston Tea Party George Greenville King George III John Dickinson Virtual Representation First Continental Congress Boston Massacre Loyalists Samuel Adams John Adams Baron Von Steuben Thomas Hutchinson Adam Smith Mercantilism BOYCOTT Quebec Act Sugar Act Townshend Acts Stamp Act Hessians British

Nigerian Economy, Gdp and Production. Free Essays

NIGERIAN ECONOMY/GDP AND PRODUCTION Nigeria recorded a Current Account surplus of 11. 60 percent of the country’s Gross Domestic Product in 2011. Current Account to GDP in Nigeria is reported by the African Economic Outlook. We will write a custom essay sample on Nigerian Economy, Gdp and Production. or any similar topic only for you Order Now Historically, from 1980 until 2011, Nigeria Current Account to GDP averaged 1. 2 Percent reaching an all time high of 37. 9 Percent in December of 2008 and a record low of -18. 7 Percent in December of 1986. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. Nigeria recorded a Current Account surplus of 5035. 99 USD Million in the third quarter of 2012. Current Account in Nigeria is reported by the Central Bank of Nigeria. Historically, from 2005 until 2012, Nigeria Current Account averaged 2373. 87 USD Million reaching an all time high of 9455. 37 USD Million in December of 2009 and a record low of -4410 USD Million in September of 2010. Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid). INDUSTRIAL PRODUCTION. In 2011 and 2012, Nigeria’s industrial production increased by 0. 10% as reported by the Central Bank of Nigeria. Historically, from 2007 until 2012, Nigeria Industrial Production averaged 3. 15 Percent reaching an all time high of 14. 90 Percent in December of 2011 and a record low of 0. 10 Percent in June of 2007. In Nigeria, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page includes a chart with historical data for Nigeria Industrial Production. The data given on this page shows a year over year change in a seasonally adjusted Industrial Production Index. Industrial Production Index is an economic indicator that measures changes in output for the manufacturing, mining, and utilities. Although these sectors contribute only a small portion of GDP, they are highly sensitive to interest rates and consumer demand. This makes Industrial Production an important tool for forecasting future GDP and economic performance. Industrial Production figures are also used by central banks to measure inflation, as high levels of industrial production can lead to uncontrolled levels of consumption and rapid inflation. How to cite Nigerian Economy, Gdp and Production., Essay examples Nigerian Economy, Gdp and Production. Free Essays NIGERIAN ECONOMY/GDP AND PRODUCTION Nigeria recorded a Current Account surplus of 11. 60 percent of the country’s Gross Domestic Product in 2011. Current Account to GDP in Nigeria is reported by the African Economic Outlook. We will write a custom essay sample on Nigerian Economy, Gdp and Production. or any similar topic only for you Order Now Historically, from 1980 until 2011, Nigeria Current Account to GDP averaged 1. 2 Percent reaching an all time high of 37. 9 Percent in December of 2008 and a record low of -18. 7 Percent in December of 1986. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. Nigeria recorded a Current Account surplus of 5035. 99 USD Million in the third quarter of 2012. Current Account in Nigeria is reported by the Central Bank of Nigeria. Historically, from 2005 until 2012, Nigeria Current Account averaged 2373. 87 USD Million reaching an all time high of 9455. 37 USD Million in December of 2009 and a record low of -4410 USD Million in September of 2010. Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid). INDUSTRIAL PRODUCTION. In 2011 and 2012, Nigeria’s industrial production increased by 0. 10% as reported by the Central Bank of Nigeria. Historically, from 2007 until 2012, Nigeria Industrial Production averaged 3. 15 Percent reaching an all time high of 14. 90 Percent in December of 2011 and a record low of 0. 10 Percent in June of 2007. In Nigeria, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page includes a chart with historical data for Nigeria Industrial Production. The data given on this page shows a year over year change in a seasonally adjusted Industrial Production Index. Industrial Production Index is an economic indicator that measures changes in output for the manufacturing, mining, and utilities. Although these sectors contribute only a small portion of GDP, they are highly sensitive to interest rates and consumer demand. This makes Industrial Production an important tool for forecasting future GDP and economic performance. Industrial Production figures are also used by central banks to measure inflation, as high levels of industrial production can lead to uncontrolled levels of consumption and rapid inflation. How to cite Nigerian Economy, Gdp and Production., Papers

Specific Hedging Strategies of Exxon Mobil †MyAssignmenthelp.com

Question: Discuss about the Specific Hedging Strategies of Exxon Mobil. Answer: Specific Hedging Strategies Derivative for Commodity Risk Exposure The following particulars are demonstrative of the exposure that shall be hedged via the utilization of the recommended derivative, the CME Crude Oil call options contract. Exposures to be Hedged Cost of purchasing the crude oil USD 1.04 B Percentage proportion to be hedged Fifty percent (50%) Derivative to be used CME Crude Oil Options Contract No. of derivative contract each hedged 10400000000/27=385185185 contracts Delivery months for each derivative December 2017 Prices at the time of Recommendations 27USD The companys engagement in the call option will allow Exxon Mobil to hedge the firms position changes in the crude oil prices. Via the purchase of the call option, in case the strike price are beneath the market prices, Exxon Mobil will be able to exercise the option at the expiry date (December 2017) and take the advantage of the low prices. On the other hand, in case the strike price of the contract is above the market price, then Exxon Mobil can opt for no exercising the firms option. Exxon Mobil, therefore, shall confine its downside of the premium paid to the writer of the option, nevertheless, the advantage benefits can go as higher as the surge in the crude oil prices in the market. Hedging for Foreign Exchange Risk It is obvious that most transactions of Exxon Mobils payables occur in USD and solely the sales in other currencies. The recognized a before tax loss/gain linked to the derivative instruments for the period 2016; 2015 and 2016 include -$0.081 billon, $0.039 billion and $0.11 billion. Hence, Exxon Mobil should never really wish to hedge the foreign currency exchange risk. The influence brought by the fluctuations in the value of the currency remains inconsequential to the Exxon Mobil (Pinceel et al. 2015). This is the reason Exxon Mobil rarely utilizes future contracts, swaps, commodity, currency exchange and forwards in mitigating against the foreign exchange risks. Foreign exchange rate fluctuations thus do not have material direct consequences to Exxon Mobil. Derivative for Interest Rate Risk Exxon Mobil holds a floating rate interest payment liability of 1 billion dollars and 11 billion dollars of fixed interest bonds. The firm has already engaged in certain initiatives to hedge to get rid of risks that emerge from the fluctuations in the interest rate. The fluctuations in the basis-point impacts of Exxon Mobils debt remains inconsequential to its earnings, cash flow or fair value (White, Li, Griskevicius, Neuberg and Kenrick 2013). The company has unrestricted access to internally generated funds thus guaranteeing its short-run and long-run liquidity and covering most of the companys financial needs. Exposures to be Hedged The floating interest payment of the 6 billion that the firm has to make Percentage proportion to be hedged 100% Derivative to be used U.S. Treasury Bond short future No. of derivative contract each hedged 6000000000/152.17=39429585 contracts Delivery months for each derivative December 2017 Prices at the time of Recommendations $152.17 Exxon Mobil will use the interest rate swap whereby it selects to pay the fixed rate of interest hence any fluctuations in fair value of swaps does not influence the earnings following the balancing off of the fair value fluctuations of hedged debt. The firm will pay the pre-existing floating rate debt utilizing the variance between the variable and fixed floating rate payments (Martinez-Garcia and Tarnita 2017). The firm will not exercise the future rather it shall close its position few days before the final expiry data. The short future contract shall be marked to the market and the firm shall assess the gains each day. The forecasts with respect to interest rate indicate precisely that the interest rate could in the future stay unchanged or surge. In case of constant interest rate, the firms risk shall be hedged. On the contrary, the firm will make a gain in case the interest rate surges by making future contract to the market thereby receiving value in access. In either case, the downside risk of the company is restrained via the investment in the short future in US Treasury Bond. Derivative for Liquidity Risk It is recommended that the Exxon Mobil must hedge with future cash flows contracts whereby the company will purchase more assets in gas as well as refining to make future cash flows to the business (Guo 2017). By engaging in the capital spending or purchasing new offshore oil drilling equipment, the firm shall be seeking to complement the liquidity structure and the liquidity hedging portfolio in the firms future cash flows. Exposures to be Hedged The short term non derivative based liquidity payment which the company has to make Percentage proportion to be hedged 100% Derivative to be used US Treasury Bond put option No. of derivative contract each hedged 42500000000/152.17=279292896 contracts Delivery months for each derivative December 2017 Prices at the time of Recommendations $152.17 Exxon Mobil has held a position in the put option thereby guaranteeing ownership of assets when the debt matures. The Exxon Mobil has a stronger projection with respect to the surge in the interest rates of country. Where there is a surge in the rates of interest, Exxon Mobil would solely secure a position to pay off the firms debt, however, the firm will further make a gain via the option settlement. Is the company adequately hedged? In my view, Exxon Mobil is sufficiently hedged. Why or why not? The firm has already engaged in hedging in the areas that required the hedging adequately. It is clear from the examination above that the firm has hedged in liquidity risk, interest risk and commodity price risks. In my view, the Exxon Mobil has not hedged only in foreign exchange risk but this is a good and convincing reason not hedging this risk. The reason being that the impact of such a risk remains immaterial to the firm as most of the transactions take place in the country except sales. In this sense, the variation in other countries currency has no bet effect on the Exxon Mobil and hence the needless to hedge in the foreign exchange rate. The firm will have nothing to lose by not hedging this risk and it can be said that the Exxon Mobil is fully and adequately hedge as a strategy to mitigate the risks associated with its operations (Dong, Kouvelis and Su 2014). What are your recommendations? It is recommended that Exxon Mobil undertake the hedging strategies already recommended in this paper based on the analysis as presented in the table to mitigate the risk associated with its operations. The firm has a broader operations as it deals in various economies which increasingly expose it to various financial risk. Exxon Mobil has made feasible policies for hedging such risks that confronts the business. Nevertheless, Exxon Mobil still has ineffective exposure to particular risks. The present riskmanagement strategies adopted by Exxon Mobil have significantly managed to mitigate the risks. Nevertheless, Exxon needs to embrace the strategies mentioned in the analysis to further improve the firms position and decrease the exposure to various kind of the financial risk confronting the business. References Dong, L., Kouvelis, P. and Su, P., 2014. Operational hedgingmanagement strategies and competitive exposure to exchange rates. International Journal of Production Economics, 153, pp.215-229. Guo, J.H., 2017. Hedging strategies for European contingent claims with the minimum shortfall risk criterion. Journal of Interdisciplinary Mathematics, 20(3), pp.637-647. Martinez-Garcia, R. and Tarnita, C.E., 2017. Seasonality can induce coexistence of multiple bet-hedging strategies in Dictyostelium discoideum via storage effect. Journal of Theoretical Biology. Pinceel, T., Vanschoenwinkel, B., Deckers, P., Grgoir, A., Ver Eecke, T. and Brendonck, L., 2015. Early and late developmental arrest as complementary embryonic bet-hedging strategies in African killifish. Biological journal of the Linnean Society, 114(4), pp.941-948. White, A.E., Li, Y.J., Griskevicius, V., Neuberg, S.L. and Kenrick, D.T., 2013. Putting all your eggs in one basket: Life-history strategies, bet hedging, and diversification. Psychological Science, 24(5), pp.715-722.

Mandatory Minimum Sentences and Drug Policy Reform free essay sample

The use of mandatory minimums within our judicial system is not winning the war on drugs. This country needs drug law reforms to turn the tide on the war on drugs, and minimize their impact on our society. This comes from rehabilitation programs that are more effective and less costly for our government. Introduction Our country has gone to extremes to try and win the war on drugs. There is no evidence to show that they have made any real impact in ending or even lowering the use of drugs in this country. In1986 the federal government enacted mandatory minimum drug sentences. These laws force judges to comply with a minimum prison sentence based on the nature of the drug crime. By doing this, the federal government has tied the hands of our judges to use their judgment depending on the case. Their argument for this is it will deter people from committing drug crimes in the future. We will write a custom essay sample on Mandatory Minimum Sentences and Drug Policy Reform or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page My argument is that we are treating an addiction which needs both medical and psychological help to resolve, not longer prison sentences. Argument for Mandatory Minimums In 1986 mandatory minimums were enacted to put an end to the cocaine and crack epidemic that was going on in our nation’s inner cities. The focus was if they could apprehend the drug kingpins and lock them away for many years in prison, they would lose their realm of control of the drug world. The reality of the situation is that many gang leaders are in prison today, and have just as much control over the drug trade as they did when they were free men. Many say that the laws have inadvertently become a racial problem within this country. Laws on mandatory minimum sentences are much harsher on crack than cocaine. Since crack is predominantly used among African Americans within this country, they received much harsher punishments than cocaine users who are predominantly white. Argument against Mandatory Minimums We are not simply dealing with a bad behavior that is a scourge on society. We are dealing with extremely addictive drugs that a prison sentence will do almost no good in helping people kick their habits, and thus their old way of life. These people need medical and psychiatric help in order to rehabilitate them into the nine to five taxpaying Americans that our country wants them to be. Many drug dealers started out as users and began to sell the drug in order to pay for their own habit. Mandatory minimum prison sentences for people who are sadly destroying their lives to maintain their own personal habit are not going to be reformed in our nation’s prisons. Most of the people within our prison system are their because of non-violent drug crimes. They are not horrible people who are their because of rape, murder, armed robbery, etc†¦ People who argue in favor of mandatory minimum sentences for drug offenses say it is working by putting dealers behind bars. The fact is though that most of the people behind bars due to these laws are low level dealers. â€Å"In fiscal year 2005, 61. 5% of all federal crack cocaine defendants were low-level offenders such as mules or street dealers. Only 8. 4% were high-level dealers. † (Mandatory Minimums) Mandatory minimums only go by the weight of the substance that you were selling. It is clear by this data that the weights set in our current laws do not target high-level dealers as well as they were intended to. Rehabilitation Centers vs. Prison Rehabilitation of our country’s drug users not only has a higher success rate than that of our prisons, it is also more cost efficient. It is what you refer to as a win-win. The amount of people within our jail and prison systems is estimated to be above six million people. Approximately half of these inmates used drugs regularly the month prior to their apprehension. It is fair to say then that nearly half of our prison population is candidates for drug rehabilitation programs rather than prison systems. The average cost for incarcerating an individual for a year is $20,000. The average cost of treatment at a rehabilitation center is around $9,000. It currently costs our government around one billion dollars annually to incarcerate its prison population. By taking the half of the prison population that are habitual users and putting them in treatment centers, the government could save a quarter of a million dollars a year. Not only that, but the repeat offender rate for those that have gone through the treatment centers is only a fourth of that for prison sentences. Drug courts are a new movement going across our nation. A court system set up to deal with drug crimes only. Drug courts are set up to give first time offenders a second chance. Conditions of sentencing typically involve mandatory drug testing along with therapy. If first time offenders can successfully complete the treatment program in most cases their crime is removed from their criminal record. Since many first time offenders are juveniles or young adults, this allows them to receive federal aid through FAFSA. In turn it makes it easier for them to receive higher education services, which gives them a better chance at getting the skills they need for jobs. This in turn makes it more unlikely that they will revert to their old lifestyles of drug dealing now that they are treated for a drug addiction and have been given the tools they need to succeed. Drug courts are very strict though. If a participant in the program fails to attend a therapy meeting or has a positive return on a drug test, they are sent directly to jail. The program is only for those who want to change their lives. It is true that there are some people who do not want to change and they should be in jail if they do not want to reform to the laws of this country. The idea of drug reform in this country may be a daunting task, but it needs to be done. If we do nothing about the problem it will never go away, and as it has shown so far it will only get worse. The old ways of thinking are clearly not working. Something needs to be done about this problem. There is a reason why we have the highest incarceration rate of all industrialized nations. It is because half of our incarcerated citizens are non-violent drug offenders. If we can move towards treating an illness instead of punishing a crime, our country will be better off. Less people will be incarcerated and will be productive, moving our country towards a better tomorrow. Mandatory Minimum laws within this country need major reform due to the injustice that they create. While most of the injustice was done inadvertently, nonetheless it is still there. Our country has failed to take one step closer in winning the war on drugs. It is time for America to realize it has a drug addiction problem that cannot be fixed with lengthy prison sentences. Our country needs to change the mandatory minimum laws. Cocaine and crack need to be punishable equally. In this country it is estimated that there are four million people with addictions to either crack or cocaine. About half of the nation’s prison population is in there for non-violent drug offenses. With a prison population of one and a half million people, that’s three quarters of a million non-violent drug offenders not receiving the correct treatment. Cocaine use has continued to rise since the 1980’s while crack use has stayed steady. Marijuana is the most commonly used illicit drug in this country. It has had research to show that it is a gateway drug. Users of marijuana are more likely to try drugs like crack and cocaine. Studies show that most users of marijuana have tried the drug before their sophomore year in high school. Educational systems such as D. A. R. E. are already in place as good educational tools against drugs. Our society needs to be honest about the dangers of drugs. Many anti-drug commercials of the past could go as far as to say a hit of marijuana will make you kill your parents. Many commercials of today are starting to show more honesty. Instead of saying that buying pot is the same as putting money into the hands of terrorists, they are stating the truth that it does typically make you less active. This in turn usually leads to people not completing goals, and not completing any of their goals. Alcohol is the second most illegally used drug by minors. Education about the dangers of alcohol is equally important. Alcoholism is a major problem within this country, which typically has major effects on families. Alcoholism can lead to violent households. More teens die from drinking and driving than any other way of death. Alcohol like marijuana is considered a gateway drug. This is why it is so important that we attempt to stop irresponsible drinking behaviors. Essentially drug addicts are addicted to the feeling of euphoria that comes upon them when endorphins flood the brain with the use of the drug. Drug rehabilitation centers have found great success at treating people with addiction to crack and cocaine with anti-depressants. The National Institute of Drug Abuse is taking a different approach to the problem. They are developing a cocaine-vaccine that virtually eliminates all effects of the drug. This would ensure that even if an addict were to have a relapse, the drug would have no effect, and the incentive to do the drug is taken away. Dealers of crack and cocaine usually were crack and cocaine users first. These drugs are incredibly addictive. For users to support their habits many of them turn to dealing the drug. If our society can find a way to break the cycle of addiction there is hope that we can start to turn the tide on the war on drugs. Our government simply has to recognize that we are dealing with an addiction crisis, and not necessarily bad people who are the scourge of society. Drug courts are a new movement going across our nation. A court system set up to deal with drug crimes only. These courts are now operating or have plans to be operating in all fifty states. The first drug court was established in Dade County in 1981. Drug courts are set up to give first time offenders a second chance. Conditions of sentencing typically involve mandatory drug testing along with therapy. If first time offenders can successfully complete the treatment program in most cases their crime is removed from their criminal record. Since many first time offenders are juveniles or young adults, this allows them to receive federal aid through FAFSA. In turn it makes it easier for them to receive higher education services, which gives them a better chance at getting the skills they need for jobs. This in turn makes it more unlikely that they will revert to their old lifestyles of drug dealing now that they are treated for a drug addiction and have been given the tools they need to succeed. Drug courts are very strict though. If a participant in the program fails to attend a therapy meeting or has a positive return on a drug test, they are sent directly to jail. The program is only for those who want to change their lives. It is true that there are some people who do not want to change and they should be in jail if they do not want to reform to the laws of this country. Along with anti-depressants and revolutionary new research being done to address this nation’s addiction to drugs the twelve step process is the most used system for drug rehabilitation. The twelve step process forces the user to admit he or she is powerless over the drug and that a higher power can help them restore their sanity. This has its own constitutional conflictions with the separation of church and state. The twelve step process is only one option that can be taken towards drug rehabilitation though. It could be set up where defendants could choose a faith based rehabilitation program through the state or a non faith based rehabilitation program. There is no one strategy that works for every addict. Each case needs to be dealt with on a personal basis. They need to get to the bottom of why they want to use drugs. There is typically an underlying issue in a user’s life that causes them to search for an escape. The escape that ends many people in prison for lengthy sentences happens to come from crack and cocaine for too many people. Our rehabilitation centers need to work closely with the patients’ family whenever this is possible. Most drug users have families that are drug users as well. It is a perpetual cycle that continues to go on. It continues to go on because the underlying problems within the family are not addressed and they continue to turn to drugs in an attempt to escape the issues. Families are typically the best support system for a user trying to go clean. Without the help of the family or a family like atmosphere, users find it difficult to see a reason why they should quit. They need to see the impact that it makes on their loved ones to make it real to them. The ugliness needs to be shown in order for the user to see the full consequences of his or her actions. I am not proposing that we get rid of prison sentences for drug offenders by any means. We should only offer rehab to first time offenders who will be able to show whether they truly wish to change their lives for the better. If you have been through the program once and reverted back, then you have not proven to society that you are willing to be a productive law-biding citizen. Everyone deserves a second chance, but not necessarily a third or fourth. Rehabilitation of our country’s drug users not only has a higher success rate than that of our prisons, it is also more cost efficient. The amount of people within our jail and prison systems is estimated to be above six million people. Approximately half of these inmates used drugs regularly the month prior to their apprehension. It is fair to say then that nearly half of our prison population is candidates for drug rehabilitation programs rather than prison systems. The average cost for incarcerating an individual for a year is $20,000. The average cost of treatment at a rehabilitation center is around $9,000. It currently costs our government around one billion dollars annually to incarcerate its prison population. By taking the half of the prison population that are habitual users and putting them in treatment centers, the government could save a quarter of a billion dollars a year. Not only that but the repeat offender rate for those that have gone through the treatment centers is only a fourth of that for a prison sentence. Rehabilitation centers have a success rate of sixty to seventy five percent. When those figures are applied to the prison population that means that at the lowest success rate twenty five percent of our prison population would become productive members of society. While the repeat offender rate for rehabilitation centers is between forty and twenty five percent, prison are seventy five percent. With our current system over half a million of our non-violent offenders will be back in prison for the same crime, while with rehabilitation at worst it would be around three hundred thousand. The key to success with our rehabilitation centers is to provide long term assistance. It will be much better off for the nation as a whole to treat the triggers of addiction before it gets out of hand. Yes it is the addicts fault the he or she is addicted, but this does not mean that we should let society hurt on a principle of stubbornness. We should help our fellow man stay clean if he wants to be clean. With long term assistance programs for patients of rehabilitation programs, the success rate can reach as high as ninety five percent. I am not naive enough to think that this high of a number will work just as well for prisoners. Some prisoners simply do not want to break their addiction. If they do not want to change their lives, there is very little that rehab will do for a patient. Society has treated the drug problem within this country with extremely harsh punishments. We have been blind to see that we have been approaching the problem with the wrong strategy. Rehabilitation and education are the two strongest weapons in the war on drugs. If we change the lives of drug offenders, we will be able to exchange a large portion of our prison population into productive members of society. This would turn people who used to be a burden on taxpayers into taxpayers themselves. This would ultimately help the economy of America and the overall quality of life. The idea of drug reform in this country may be a daunting task, but it needs to be done. If we do nothing about the problem it will never go away, and as it has shown so far it will only get worse. The old ways of thinking are clearly not working. Something needs to be done about this problem. There is a reason why we have the highest incarceration rate of all industrialized nations. It is because half of our incarcerated citizens are non-violent drug offenders. If we can move towards treating an illness instead of punishing a crime, our country will be better off. Less people will be incarcerated citizens are non-violent drug offenders. If we can move towards treating an illness instead of punishing a crime, our country will be better off. Less people will be incarcerated and will be productive, moving our country towards a better tomorrow.

The Marketing Mix Matrix Essay Essay Example

The Marketing Mix Matrix Essay Essay Example The Marketing Mix Matrix Essay Essay The Marketing Mix Matrix Essay Essay In 2005. Chekitan Dev and Don Schultz introduced the client focused selling mix ( SIVA ) in Marketing Management. SIVA was presented as an alternate attack to McCarthy’s authoritative concern orientated selling mix popularly known as the 4Ps. SIVA and 4Ps are presented here as a complementary mechanisms to determine selling pattern through sing the demands of the client within the restraint of the organization’s capacity. To that terminal. we present a agency to unite the managerial focal point of the authoritative 4Ps with the client orientation of SIVA as the Marketing Mix Matrix. McCarthy ( 1960 ) suggested an enterpriser had entree to four key governable variables – merchandise. publicity. topographic point and monetary value – which could be adjusted to appeal to consumers for improved success in the market. Merchandise is the offer the enterpriser makes to the market that can be consumed to run into a demand. supply a solution or be used in the proce dure of making something else of value. Diverseness of signifier has been the trademark of the merchandise construct given that it incorporates physical goods. physically-orientated services that are performed on people or objects. intangible services including the cyberspace. intangible merchandises such as package or mp3s. experiences such as film and thoughts including advice. cognition or emotional results. Promotion refers to the entire array of deliberate communicating between the selling organisation and its clients. spouses or society through the usage of the promotional mix. Communication between client and market in publicity was traditionally unidirectional from the seller to the market until the Hoffmann and Novak ( 1996 ) computing machine mediated communicating theory. and societal media facilitated conversations between clients and companies. Topographic point refers to every mechanism involved in the coordination of a merchandise from the point of production to the point of ingestion. The logistical challenges of presenting intangible benefits to the client through embedded services. thoughts. digital merchandises or experiences has renewed involvement in the importance of topographic point in the selling mix. Price encapsulates the entire cost that the consumer has to bear in order to get. entree or utilize the merchandise including non fiscal and fiscal factor. Dev and Schultz ( 2005a. 2005b ) suggested a client focused alternate to McCarthy’s 4Ps attack with the SIVA mix. SIVA represents the four key determination influences from the consumer’s position and stands for Solution. Information. Value and Accessibility. Solution refers the value that the client creates by devouring the offer made by the organisation and acknowledges that persons actively consume merchandises and services in different ways. adding their ain reading and utilizations and accordingly become portion of the overall value creative activity procedure. Solution sees the complexness of the consumer’s needs as an chance to co-create customized results which means sing the universe from â€Å"What jobs can my merchandise work out? † instead than the outward focal point of â€Å"Who wants these characteristics? † Information represents the sum sum cognition the client has about the seller. selling offer and interactions with the selling house. It moves beyond the controlled selling messages emanating from the organisation. and includes the information derived from the customer’s anterior experience with the merchandise. the ascertained and communicated experiences of their online and offline societal webs plus any 3rd party information found through merchandise reappraisals. web logs and other beginnings. Value refers to the possible. existent and future cost of the solution and represents the entire forfeit the consumer will do in return for the package of benefits from the solution which incorporates the societal costs of clip. attempt. pride and repute in add-on to any pecuniary elements. Accessibility refers to the bringing of the promised solution at an acceptable cost by giving the clients what they want at a location that suits them in a clip frame that meets their demands. The focal point in handiness alterations the focal point of the supply and logistics channels to stress the points of entree that the client can utilize to get the solution.

Marie Antoinette, Queen Executed in French Revolution

Marie Antoinette, Queen Executed in French Revolution Marie Antoinette (born Maria Antonia Josepha Joanna von Ãâ€"sterreich-Lothringen; November 2,  1755–October 16,  1793) was the queen of France, executed by guillotine during the French Revolution. She is most known for supposedly saying Let them eat cake, although the French quote translates more precisely as, Let them eat brioche, and there is no proof that she said this. She was reviled by the French public for her lavish spending. Until her death, she  supported the monarchy against reforms and against the French Revolution. Fast Facts: Marie Antoinette Known For:  As the queen of Louis XVI, she was executed during the French Revolution. She is often quoted as saying, Let them eat cake (there is no proof of this statement).Also Known As:  Maria Antonia Josepha Joanna von Ãâ€"sterreich-LothringenBorn:  November 2, 1755  in Vienna (now in Austria)Parents: Francis I, Holy Roman Emperor, and Austrian Empress Maria TheresaDied:  October 16, 1793 in Paris, FranceEducation: Private palace tutors  Spouse: King Louis XVI of FranceChildren: Marie-Thà ©rà ¨se-Charlotte, Louis Joseph Xavier Franà §ois, Louis Charles, Sophie Hà ©là ¨ne Bà ©atrice de FranceNotable Quote: I am calm, as people are whose consciences are clear. Early Life and Marriage to Louis XVI Marie Antoinette was born in Austria, the 15th of 16 children born to Francis I, Holy Roman Emperor, and Austrian Empress Maria Theresa. She was born on the same day as the famous earthquake of Lisbon. From birth, she lived the life of wealthy royalty, educated by private tutors in music and languages. As with most royal daughters, Marie Antoinette was promised in marriage in order to build a diplomatic alliance between her birth family and the family of her husband. Her sister Maria Carolina was married to Ferdinand IV, King of Naples, for similar reasons. In 1770 at age 14, Marie Antoinette married the French dauphin Louis, grandson of Louis XV of France. He ascended the throne in 1774 as Louis XVI. Life as Queen Marie Antoinette was welcomed in France at first. Her charisma and lightness contrasted with the withdrawn and uninspiring personality of her husband. After her mother died in 1780, she became more extravagant, which led to growing resentment. The French were also suspicious of her ties to Austria and her influence on King Louis XVI in attempting to foster policies friendly to Austria. Marie Antoinette, formerly welcomed, became vilified for her spending habits and her opposition to reforms. The 1785–1786 Affair of the Diamond Necklace further discredited her and reflected poorly on the monarchy. In this scandal, she was accused of having an affair with a cardinal in order to obtain a costly diamond necklace. After an initial slow start at the expected role of child-bearer- her husband apparently had to be coached in his role in this- Marie Antoinette gave birth to her first child, a daughter, in 1778, and sons in 1781 and 1785. By most accounts, she was a devoted mother.  Paintings of the family stressed her domestic role. Marie Antoinette and the French Revolution After the Bastille was stormed on July 14, 1789, the queen urged the king to resist the Assemblys reforms, making her even more unpopular and leading to the unproven attribution to her of the remark, Quils mangent de la brioche!- often translated as Let them eat cake! The phrase was actually first seen in print in Jean-Jacques Rousseaus The Confessions, written before Marie Antoinette was queen. In October 1789, the royal couple was forced to move from Versailles to Paris. Two years later, the attempted escape of the royal couple from Paris was stopped at Varennes on October 21, 1791. This failed escape was reportedly planned by Marie Antoinette. Imprisoned with the king, Marie Antoinette continued to plot. She hoped for foreign intervention to end the revolution and free the royal family. She urged her brother, the Holy Roman Emperor Leopold II, to intervene, and she supported a French declaration of war against Austria in April 1792, which she hoped would result in the defeat of France. Her unpopularity helped lead to the overthrow of the monarchy when Parisians stormed the Tuileries Palace on August 10, 1792, followed by the establishment of the First French Republic in September. The family was imprisoned in the Temple on August 13, 1792, and moved to the Conciergerie on August 1, 1793. The family made several attempts to escape, but all failed. Death Louis XVI was executed in January 1793, and Marie Antoinette was executed by the guillotine on October 16 of that year. She was charged with aiding the enemy and inciting civil war. Legacy The role Marie Antoinette played in French governmental affairs, both domestic and foreign, was likely greatly exaggerated. She was particularly disappointing to her brother, the Holy Roman Emperor, for her inability to further Austrian interests in France. Her lavish spending, furthermore, did not significantly contribute to Frances economic troubles before the revolution. Marie Antoinette, however, remains an enduring symbol, around the world and across history, of the extravagance of monarchy and aristocracy- against which revolutionaries define their ideals. Sources Castelot, Andrà ©. Queen of France: A Biography of Marie Antoinette. Harper Collins, 1957.Fraser, Antonia.  Marie Antoinette: The Journey. Anchor Books, 2001.Thomas, Chantal The Wicked Queen: The Origins of the Myth of Marie-Antoinette. Zone Books, 1999.

Project plan's name Essay Example | Topics and Well Written Essays - 1250 words

Green Maps for a More Sustainable Future - Essay Example More tasks carried out by the organization are through partnering with other institution in carrying out projects such as educating the society, feeding the hungry, providing men and women with skills that are aimed at elevating their living status among others. All the projects carried out are geared towards adhering to the mission and vision of the organization. The mission of the organization is geared towards getting people to lose with the aim of impacting positive change while its vision is to catalyze a global market for information, ideas, and money that democratizes philanthropy (Globalgiving, 2015). The funding of this organization is through donors and well-wishers. Some of the organizations that the institution has partnered with are Charles Stewart Mott Foundation, Omidyar Network, USAID (Global Development Alliance), and The Rockefeller Foundation among others (Globalgiving, 2015). It is approximated that since 2002 the number of donors is roughly 421,651 and have carried out approximately 11,669 projects. The projects vary from country to country or region to region depending on situations and needs.Moreover, the projects are of different topics such as finance, education, climate change among other numerous topics ((Globalgiving, 2015). This paper seeks to address a development project being carried out by GlobalGiving on climate change Canada that is currently ongoing. Climate change is one of the major challenging issues in the society today. People have tried modifying the daily weather either by increasing or decreasing heat or temperature of the surrounding. These increase and decrease over a long period of time contribute to climate change. The threat posed by climate change has awakened international community and various governments to start setting up mitigation measures.However, in North America, response to climate change has met several challenges.These challenges are that the public have a conviction and belief

Changing Labor Markets and Demographics Essay Example | Topics and Well Written Essays - 1000 words

Changing Labor Markets and Demographics - Essay Example Based on this, economic security is not only achievable by one being in employment but also the amount of work and the remuneration he or she gets from employment (Schiller, 2008). Two approaches are instrumental when measuring the length of time that one works. These include the number of weeks one spends at work in a year and the number of hours one spends in a week. Cumulatively, this leads to the computation of the sum of hours a worker spends in employment for a whole year. According to available statistics, the higher the number of weeks spent at work by households, the lower the rates of poverty. This statement directly affects workers who work part time. There are more full time workers than part time in the economy. This insinuates that the work experience of the poor is not properly highlighted by such a rate of incidence. According to the U.S Department of Labor, â€Å"persons who have devoted 27 weeks or more to working or looking for work and who lived in families with incomes below the official poverty threshold† are denoted as the working poor (U.S Department of Labor, 2012). In chapter 8 of the same book, Schiller traces back the poverty situation in America during the 1960s. During this period, many Americans believed that targeted assistance and economic growth could eliminate poverty. This was the War on Poverty initiated by Lyndon Johnson. The results of the war include an improved economy, 70 per cent rise in house incomes and an expanded employed labor hitting the 70 million mark. The U.S government dedicated a significant proportion of its expenditure than ran into billions of dollars into programs that aid the poor. However, poverty is yet to disappear in totality (Lofquist, Lugaila, Lofquist, & Feliz, 2012). This is because even the 1980s and 90s, economic expansions have only reduced the population of the poor in the U.S dismally. The fact that increased economic growth is unable to tame poverty levels is an issue that has elici ted numerous debates. One such debate focused on the existence of an underclass. These poor people have been alienated along social lines. These persons fail to match with the conventional values, prosperity and incentives (Jenkins, 2012). Schiller decided to explore the culture of poverty to understand the reason behind the existence of this group within the American population. This culture spans back to the colonial times when poverty was regarded as the symptom of sin or a vice. This was attributable to the availability of opportunities of economic security that could be acquired by self except the black man. In this context, the poor people were considered as morally bankrupt and received harsh treatment. For instance, the shoulders of the paupers in Pennsylvania were marked with letter P to serve as warning to unsuspecting members of the population. These kinds of culture portray how some behaviors and norms contributed to the difficulties when addressing poverty (Lofquist, Lu gaila, Lofquist, & Feliz, 2012). Mishel, Bivens, Gould and Shierholz in The State of Working America, examine how the policy driven inequality blocks affect the living standards for the low and middle income Americans. The authors share the view that the United States’ economy has done nothing to improve the living standards for majority of American households. This is because wealth inequality accruing from unfair rise in income and wages characterizes the economy. The rise in this trend is attributable to policy responses that

Communication in Early Childhood Education Essay Example for Free

Communication in Early Childhood Education Essay Effective communication creates a learning environment where students can learn according to their individual needs in a safe and accommodating environment. Think about your early childhood education (or your child’s early education), was it flexible to suit individual learning experiences or were children required to conform to the teacher’s methods of teaching? If you answered the latter, do you think the former would improve the quality of education? Pedagogues’ in all divisions of education should possess proficiency in different levels of communication, whether  they are teaching primary or secondary students or university alumni, to be able to address a combination of the various age groups (colleagues, students, parents or superiors). Educators will face difficulties in providing a satisfactory level of education without the necessary skills to communicate effectively to these groups of people. Early childhood educators with effective communication skills demonstrate an ability to adapt their teaching methods to suit the needs of their young individual students, which benefits the progression in child development. The teacher’s positive mood determines the emotional climate of the classroom,  creating a healthy and safe learning environment for the children and allows teachers to communicate comfortably with children, parents and colleagues, therefore, resolving issues efficiently. Early childhood educators who communicate effectively with children and parents create a positive classroom atmosphere, where successful learning can take place. Teachers and parents must be able to communicate and cooperate to build a strong relationship for the best interests of the child. Do parents have an innate trust in teachers? (For them to leave their children in the teachers care, in some  cases, almost a stranger) Whether or not this is accurate, teachers must build on this trust to create a supportive parent-teacher relationship. Each situation is different and teachers should be aware of their body language, and use of language, so when speaking with parents their communication should be different when talking to parents than when they are chatting with friends. The first step is establishing a dialogue by approaching the parent first and making them feel welcome and relaxed, as parents may be resistant in making first contact, due to, a bad experience with teachers themselves, as children or bad experiences in other  schools with other teachers (Miller, 2003 Roffey, 2002 as cited by Porter, 2008). There are different strategies teachers can use to maintain effective communication with parents and build strong relationships once they have made communication. Keeping a parents trust is important in maintaining open lines of communication so they can discuss concerns relating to the child and solve issues promptly. Teachers can gain parents confidence by always respecting confidentiality and avoiding rumors. If a parent finds out that, their child’s teacher breached confidentiality or is  a known gossip, parents will find it difficult to confide in them with an issue regarding their child, particularly if it is of a personal nature. Parents are also more likely to approach their child’s teacher if they know they can discuss issues and reach a mutual agreement (Bender, 2005). Teacher-parent communication is all about showing trust and comfort with each other. Frequent communication between these two parties creates less tension, when an issue arises, allowing a constructive discussion to take place and reaching an agreement sooner without hostility. Teachers can increase parent participation in the child’s learning by updating  them in upcoming activities and events, so they can be included in their child’s education, stay informed in their child’s successes and concerns, participate in special events, and contribute to their child’s overall learning process. The activities and responsibilities of the school should not be limited to the school environment and cease once the child has reached home, therefore, teachers and parents should allow room for overlapping (Edwards, 2000). Keeping parents updated on their child’s school progress allows parents to provide the necessary support and encouragement at home, giving them a better understanding of their child’s development. At the same time, teachers should obtain information from parents regarding the child’s progress at home, so teachers can help children accordingly at school. This back and forth communication between parents and teachers will provide students with a supportive network that benefits everyone concerned (Ramirez, 2006). It is also the responsibility of teachers to advice parents when their child is involved in an accident. Teachers should always take detailed notes of incidents, remembering to keep confidentiality (between parents), if more than one student was involved (Koza, 2007).  If a parent became aware about an incident through their child, it may give the parent the impression that the teacher tried to conceal the incident. By keeping parents constantly informed, reinforces the parent-teacher relationship, giving parents’ confidence in the teacher’s ability to care for their child. Teachers need to be flexible in their teaching, to meet each individual’s needs. Teachers must demonstrate various teaching styles to accommodate how each individual â€Å"learnt-to-learn† (Edwards, 2009), by applying the learning methods children are familiar with enables them to accomplish more and feel comfortable in  their new learning environment. The way children learned to do tasks at home is crucial to their learning when they reach early childhood education, since each child learned to follow instructions and complete tasks differently, it would be insensitive to treat all children the same without taking into account their cultural differences and experience (Marotz, 2009). Educators teaching young children must consider the learning methods each individual is already accustomed to and design their teaching methods around the children’s experiences, and so, communication can be  used effectively by incorporating different teaching strategies such as speaking, writing and visual demonstrations. For example, a child who has learned to complete a task by reading instructions will perform more efficiently if they are able to read from the board or paper, instead of following verbal instructions from a teacher. Teachers should make the effort to understand each child’s previous learning experience and background, so they can identify the best teaching method required by each child. Teachers must adopt appropriate methods and language for teaching and should outline the schools (or teachers) code of conduct regarding  language, to parents, so they can enforce the same rules at home to avoid children bringing inappropriate language to school, causing disruptions in the learning of other children and disgruntling other parents. As teachers gain experience with children and parents of different cultures, religions and abilities, they develop their own communication skills so they can provide improved services to the children they teach in the future. A safe and positive classroom is an important environment for the learning and development of a child. As a classroom leader, the teacher must behave and  communicate in a manner that creates a positive emotional climate in the classroom; firstly, teachers must resolve or reduce stress caused by work and personal issues, doing so outside of the classroom, so they can concentrate on the needs of the children when they are in the classroom. Secondly, by displaying self-confidence, a strong sense of self-worth and control over their emotions creates a classroom atmosphere where children are happy, comfortable and safe, as a result, children respond more positively to their teachers and classmates (Marotz, 2009). Ebbeck Waniganayake (2003) stated that young children generally have a  sense of happiness and positiveness in them, but society depresses this and upsets the way children view the world and future, by creating fear in them (the media showing violence, bad behavior, and superficial concerns). However, teachers can empower children by showing them â€Å"how to take their place in society and create a better now and future† (Ebbeck Waniganayake, 2003) and give them a feeling of optimism in everything they try to accomplish. Teachers who build a trusting bond with their students are also better equipped, in understanding each individual, allowing children to open up and discuss personal problems with them. This enables  teachers to speak and listen to each individual easily and identify signs of possible abuse, bullying or other health and safety concerns. In conclusion, effective communication is essential to all learning environments and without it, teachers will struggle to teach and students will face learning difficulties, resulting in a decline in the quality of education. In early childhood education, it is up to the teachers to ensure that each child’s education environment is safe and comfortable for the child, by showing flexibility in teaching to meet individual requirements and showing care and understanding to assist children with concerns. A strong parent-teacher relationship creates a support network where information is exchanged and issues are solved, to allow the child to concentrate on his or her learning and development. Early childhood educators are there to guide and support children in all aspects of life. References Ebbeck, M. Waniganayake, M. (2003). Early childhood professionals: Leading today and tomorrow. East Gardens, Australia: Maclennan Petty Pty Ltd Edwards, MC (2000) Center for effective parenting is a collaborative project of: The Jones center for families, 3. Retrieved from http://www. parenting-ed. org/handout3/Parental Involvement/Communicating with. Teacher Handout. pdf Edwards, S. (2009). Early childhood education and care. Castle Hill, Australia: Pademelon Press Koza, W. (2007). Managing an effective early childhood classroom. Huntington Beach, USA: Shell Educational Publishing. Marotz, L. R. (2009). Health, safety, and nutrition for the young child (8th ed. ). Australia: Cengage Learning Porter, L. (2008). Teacher-parent collaboration: Early childhood to adolescence. Camberwell, Australia: ACER Press Ramirez, L (2006) Parent teacher The benefits of creating a supportive parent teacher relationship. Retrieved from http://www. parenting-child-development. com/parent-teacher. html.

Iacocca :: Essays Papers

Iacocca The book Iacocca is an autobiography of Mr. Lee Iacocca. The first couple of sections of his book were about family. Starting with his mother and father, coming over from Italy and his childhood. His father always taught him something that when he was going to do something that he had to be the best. Which is to be believed, where he got his strength in competition later in his business career. Then after his parents came his wife and children, whom he loved. The next few sections were about his job and how it was changed through out the years. Even when his job was still with the same company his position is that company changed many times in his career before he even traded companies. Mr. Iacocca had a very loving and understanding family as told in this book. His parents were always a major part in his life even after he got married and they were a large part of his life up until their deaths. His father was always interested in cars and so in a way Mr. Iacocca grew up around cars and the knowledge of them. His father taught him many valuable lessons about how to deal with himself and others which also may have helped him in his future career in the business world. When he married, his parents were proud but in a small way they were pushed to the side to make room for his new wife, Mary. After Mary and He were married they had some children. These children became his pride and joy. When this family grew, they all grew together in turn and they also grew closer together. This family was extremely close. Even though the family was close, his job did seem to have a slight impact on them. When Mr. Iacocca first started working for Ford, he was a low ranking engineer, fresh out of college like many of his co-workers. He tried the engineering job for a few months until he decided that he didn’t want to work in that department but he wanted to work in the sales department. After this major change in his life, he took control and went to his boss and said â€Å"there is no point in me finishing the training course and that my masters degree from Princeton was equivalent to the second nine-months of training.

Culture of Hybrid Stripped Bass in Cages

The hybrid striped bass (Morone crysops saxatilis) is a cross between the striped bass and the white bass. The two species were successfully hybridized for commercial farming in 1967 in California. The aqua culture of this fish can be conducted in either net pens or in open ponds. A drawback to open pond culture is that ponds must be designed specifically for aquaculture, and in most cases they are not. Usually ponds are designed with irrigation, watershed conservation, livestock watering, or recreational purposes in mind. These ponds usually cannot be adequately drained or they have natural structures on their bottoms, which make harvesting difficult. However, with cage culture many of these ponds can still be used for aquaculture. Cages or net pens are structures that enclose a number of fish in a confined area keeping them from ranging freely. This makes harvest extremely easy. The fish are dipped out of the cages or the cage itself is simply removed. Although the cage makes for a easier harvest the nature of the fish being in confined space calls for close management. Pond size is very important when considering cage culture for commercial purposes. Five acres is the recommended size for commercial culture (due to oxygen demand) although, smaller ponds can be used is mechanical aeration is used to offset the problem of oxygen depletion. Fish need oxygen to survive the oxygen they breathe is dissolved in the water. The amount of dissolved oxygen in the water is inversely proportional to the water temperature. Warmer water means lower levels of oxygen saturation, which is where problems arise. As the water temperature increases so does the metabolism of the fish. This higher metabolism causes the fish! to consume more oxygen. If oxygen levels are low this stresses the fish, which in turn causes the fish to consume more oxygen and further reducing levels in the pond. So for a cage culture operation to be successful a high lever of oxygen saturation must be maintained. This can be done in two ways using a small number of fish on a large pond, or enhancing the ponds oxygen levels by mechanical means. The latter is what works best in intensive commercial situations. Mechanical methods such as paddlewheels, airlift pumps, or diffusers are artificial means of introducing oxygen into a pond. They simply expose more water surface to the atmosphere allowing a greater rate of oxygen transfer. Oxygen is one of the major limiting factors in determining how many pounds of fish can be produced in a given body of water. That is why in serious commercial cage culture a good oxygen meter is a valued piece of equipment. Keeping oxygen in mind, cages can be placed any where in the pond so long as there is enough open water around and under the cage to allow water to circulate. Cages should not be set side by side so water movement is not restricted. The ideal situation is to have two cage lengths between cages. A minimum of two feet should be maintained between the bottom of the cage and the pond bottom to ensure an adequate buffer zone between the caged fish and the pond bottom, where organic waste is broken down by bacteria causing low levels of oxygen. For greatest ease in feeding and harvesting it is suggested the cages be placed along a floating dock. Pond depth is another factor in cage culture. The pond should be at least six to seven feet deep but no deeper than fifteen feet. Deeper ponds should be avoided due to water stratification. The cool water at the bottom will establish a density gradient so that normal wind action will only circulate the upper level of warm water. In deali! ng with water temperature hybrid stripped bass require water in the range of 72 to 78oF for optimal growth. With hybrid stripped bass it takes sixteen to twenty-four months to reach market size. The first year is devoted to fingerling production and the second to market grow out. With hybrid striped bass there are two options with respect to size when stocking. You can stock phase I fingerlings or phase II yearlings. The phase I fish are 2 to 3 inches long and about two months old. There are several advantages to stocking phase I fish. They are cheaper and there fore can be stocked in high densities. Once they reach the age the excess phase II fish can be sold off keeping the grow out density near the ponds carrying capacity. The disadvantages of phase I fish are the use of small mesh cages restricting water flow, higher mortalities, and the need to train them to take feed. Phase II fish are 6 to 8 inches long and weigh about 1/3 of a pound. These fish are healthy accept feed and are unlikely to experience significant mortalities if oxygen levels are maintained. The draw back to th! ese fish is that they are expensive. In an intensive commercial situation phase I fish prove to be the most profitable. The caged hybrid stripped bass are completely dependent on the farmer for food due to them being confined in cages. There fore they must be feed daily with a high quality diet. The caged fish should be fed y hand to best manage them. Feeding by hand gives instant feedback on the health of the fish. Fish should be fed twice a day once in the morning and once in the evening. Do not feed the fish after dark for this is when oxygen levels are at their lowest. Be consistent in your feeding patterns for seclude changes can disrupt the behavior patterns of the fish. The feed should be of good quality the protein amount and food size depend on the fish size. The smaller the fish the smaller the feed and the higher protein content needed. There is not a complete diet food for hybrid striped bass instead you must use trout and salmon diets. Due to this the feed rate stays between 2 to 3 percent body weight per day for  ¼ pound fish decreasing as the fish reaches harvest size. Fish less ! than  ¼ pound are feed 5 percent body weight per day. For Hybrid striped bass the food conversion efficiency ranges from 1.8 to2.5:1. Hybrid stripped bass are fast attracting consumer interest in seafood markets around the country. The inland culture of Hybrid stripped bass is best undertaken in cages or net pens since it enables the use of most farm ponds with were previously thought useless foe aquaculture purposes. The cages enable the farmer to keep tight control over his fish and allow for easy feeding and harvest. With this type of culture market size fish  ¾ pound to 2 pound and up fish can be achieved by the end of the second year.

A Tale of Two Coaches Essay

The path-goal theory relies on the how a leader motivates their subordinates to accomplish the task before them. This theory evaluates the relationship of the leader’s style of leadership and the characteristics of the subordinate and how the two compliment or supplement each other to achieve the desired outcome. In the cases of Coach Knight and Coach Krzyzewski, both were achievement-oriented. They both had clear goals and expectations of their players, win the game. This is evident by both coaches high lifetime career win totals. They both set high standards that their players were expected to meet. Each team was put through a series of drills and practices to prepare them and help build their confidence to succeed. Coach Krzyzewski â€Å"invested heavily in drills and skills with his players, practicing set plays and exhaustively analyzing practices, game films, and strategies† (Snook, Perlow, & Delacey, 2005, p. 3). The ability of both coaches to use achievement-oriented leadership contributed to their success. Each coach challenged and set high standards for their players. This raised the players’ confidence that they had the ability to achieve their goals. The achievement-oriented leadership demonstrated by each coach helped motivate the players to want to succeed. The leader-member exchange theory is a â€Å"process that is centered on the interactions between leaders and followers† (Northouse, 2013, p. 161). Two main groups of subordinates exist in the LMX model: the in-group and the out-group. Research found that there is a direct connection with high quality leader-member exchanges and job satisfaction and performance. Evaluating the leadership styles of Coach Knight and Coach Krzyzewski shows that there is evidence of the leader-member exchange theory in addition to the positive performance results that were indicated by the research of Dansereau (Northouse, 2013, p.162). Building relationships is important to Coach Krzyzewski. The success of his team was built on the relationships he established with his players and making everyone part of the in-group. He uses his â€Å"high-quality leader-member exchanges† to increase the positive performance of his players. It is a standard practice among his players that when they talk to each other they look each other in the eye. This way they are honest and truthful with each other at all times. Coach K also stated he believed â€Å"people have to be given the freedom to show the heart they possess. I think it’s the leader’s responsibility to provide that  type of freedom. And I believe it can be done through relationships and family. Because if a team is a real family, its members want to show their hearts† (Snook et al., 2005, p. 4). Coach Knight on the other hand was not as concerned about his relationship with his players. His demonstrated attitude was that he was there to do a job and so were the players. A good practice was flawlessly executed drills where players were â€Å"taught to play his game of basketball. Coach Knight’s motivational toolkit included push-ups, wind-sprints, and insulting verbal barbs† (Snook et al., 2005, p. 2). He was a perfectionist and he expected perfection of himself and his players. His players were mainly part of the out-group. They did not appear to spend much time developing relationships and the leader-member exchange was not as high-quality as the leadership experienced by Coach K’s players. The dominant leadership style used by Coach Knight is the Authority-Compliance style. He is task oriented and is looking for results. He is not as concerned about the individual or establishing relationships. On the other hand Coach K is more interested in the relationships with his players. He wanted them to feel a part of his family. His leadership style is more Team Management. He is task oriented but the difference is he places almost equal importance on the interpersonal relationships established with his players. In studying both of these great basketball coaches, who were equally successful, I learned that great successes can be achieved with various leadership styles. The team’s winning records is only one type of success. The larger picture is how willing were the player’s to follow, support, defend, or even send their own son’s to be coached by either Coach Knight or Coach Krzyzewski. Coach Krzyzewski has his players’ universal approval and therefore he is the more effective leader.

The Upstream-Downstream Hypothesis And Corporate International Diversification Theory The WritePass Journal

The Upstream-Downstream Hypothesis And Corporate International Diversification Theory ABSTRACT The Upstream-Downstream Hypothesis And Corporate International Diversification Theory ABSTRACTINTRODUCTIONUPSTREAM-DOWNSTREAM HYPOTHESISINTERNATIONALIZATION AND SYSTEMATIC RISKINTERNATIONALIZATION AND LEVERAGECORPORATE INTERNATIONAL DIVERSIFICATIONAGENCY COSTS AND FINANCIAL STRUCTURE OF MULTINATIONALSINTERNAL CAPITAL MARKETSAGENCY COSTS OF DEBTCONCLUSIONREFERENCERelated ABSTRACT The study of multinationals has received much attention in literature. Certainly, it has become a subject of controversy among the scholars. On the one hand, some researchers including Reeb Mansi (2001), Chkir Cosset (1999) and Chen et al. (1997) point out to the diversification benefits to multinationals due to risk reduction inherent in operations within imperfectly correlated markets. While on the other hand, the more recent research by Reeb, Kwok Baek (1998) and Bartove, Bodnar Kaul (1996) notes a positive relationship between internationalization and high debtholder monitoring costs.Against this backdrop, this analysis suggest an alternative upstream-downstream hypothesis whereby the overall effect of internationalization on the risk and leverage of multinationals is dependent on the market conditions of the host and target country. The paper examines the theory that multinationals should have lower risk and higher leverage than non-multinationals and explains the difference between this theory and the upstream-downstream hypothesis. Also included in this analysis, is an explanation for the documented puzzle that multinationals tend to have lower levels of long-term debt but more use of short-term debt than non-multinational firms. INTRODUCTION The study of multinationals has received much attention in literature. Over the last few decades, it has become a subject of controversy among the scholars. It has generated more heat than light with some suggesting diversification benefits to multinationals, while others point out to the positive relation between a firm risk and internationalization. Against this backdrop, we suggest an alternative upstream-downstream hypothesis whereby the overall effect of internationalization on the risk and leverage of multinationals is dependent on the market conditions of the host and target country. Previous researchers including Reeb, Mansi Alee (2001), Chkir Cosset (2001) and Chen et al. (1997) found a positive relationship between internationalization and debt ratio due to risk reduction inherent in operations within imperfectly correlated markets. On the contrary, Burgman (1996) and Lee kwok (1988) demonstrated a negative relationship between internationalization and debt ratio that results from increased risks due to agency costs, and political and exchange rate risks. Similarly, while the findings obtained from Initial research by Hughes, Logue Sweeny (1975) are consistent with the diversification benefits, the more recent research by Reeb, Kwok Baek (1998) and Bartove, Bodnar Kaul (1996) found a positive association between the risk of a firm and internationalization. Additionally, while focusing on leverage, Burgman (1996) noted that internalization may result in higher debtholder monitoring costs and thus significantly reducing the levels of leverage. Consistent with greater agency costs, Lee Kwok (1988) and Chen et al. (1997) found that the domestic corporations would in general tend to have significantly higher debt ratios relative to the MNCs. Clearly, from what can be discerned, the study of internationalization of firms has become a controversial issue among scholars. This analysis is thus an attempt to shed light on the above by exploring on both international diversification benefits and the upstream downstream hypothesis. We begin out analysis by examining the upstream and downstream hypothesis UPSTREAM-DOWNSTREAM HYPOTHESIS Kwok Reeb (2000) argue that there is an increase in risk and a reduction in debt usage when firms from stable economies make investments internationally (downstream). Conversely, the risk is reduced and debt usage increased when firms from weaker economies make investments internationally (upstream). It therefore follows that the overall effect of internationalization on firm’s leverage and risk is dependent on the characteristics of the home and target economy. The firms’ behaviour towards international activity or rather the overall effect of internalization on firms leverage and risk is dependent upon whether the firm is moving upstream or downstream (Kwok Reeb 2000). For example, for multinationals based in the United States (which is among the most stable economies in the world), their overseas expansion tend to exacerbate risk. This increase in risk may not be totally offset by the risk reduction due to international diversification and thus resulting in a downward adjustment of the firms leverage. On the converse, for firms in the emerging economies, investment internationally in the developed economies leads to a reduction in corporate risk and subsequently an upward adjustment of leverage. INTERNATIONALIZATION AND SYSTEMATIC RISK The upstream downstream argument can be extended to the systematic risk area. Multinationals, by definition, have their operations diversified into various countries. The systematic risk of an ith operation can therefore be defined as É“i (Reeb, Mansi Allee 2001). É“i = (Ï im ÏÆ'i)/ ÏÆ'm Where Ï im represents the correlation between the market return and firms return ÏÆ'i represents the firms return standard deviation    ÏÆ'm refers to the market returns standard deviation An ith operation is thus influenced by the nature of the business operation and the economic system of the country where the operation takes place (Reeb, D.M., S.A. Mansi and J.M. Allee, 2001). Take for example a project that is located in a more volatile emerging economy. This project would tend to have a higher value of total risk, ÏÆ'i. Unless there is an offset of the high standard deviation by a lower correlation coefficient Ï im, the systematic risk É“i would be higher. On the converse a project that is located in a more stable economy tend to have a lower value of its total risk, ÏÆ'i. Similarly, unless there is a substantially higher value of correlation efficient Ï im, the systematic risk É“i tend to be lower. For any multinational, its overall systematic risk is simply the weighted average of the betas (É“i) of all its business operations within the various countries (Reeb, Mansi Allee, 2001).    É“mnc = Æ © Ã… ´i É“i Where Ã… ´i represents a fraction of the total capital invested by the MNC in the ith countrys operation. Therefore, for a firm that is headquartered in a more stable economy, expansion of its operations into a less stable market would increase the overall beta (É“mnc) of the firm, due to potentially greater environmental risk for the new operation (Reeb, Mansi Allee, 2001). Conversely, when a firm that is headquartered in an emerging economy expands its direct investments into a developed economy, its overall beta may decrease. The ability to arbitrage markets may as well differ due to the economic differences of the home and target economies (Reeb Kwok 2000). Take for example, the shift of income. The ability to have the income shifted among different tax regimes depends on the degree of sophistication of the host and target government (Reeb Kwok 2000). Firms that are based in economies which are more developed and with greater resources, tend to have fewer opportunities for shifting their income (Reeb Kwok 2000). In contrast, firms that are based in the volatile emerging economies tend to have different opportunities to arbitrage labour and capital markets (Reeb Kwok 2000).   That is, firms that are moving upstream have more opportunities to hire employees with different sets of skills and experience than those that are moving downstream. This implies that firms’ behaviour towards international activity varies with the characteristics of the home and target market. Therefore, the overall effect of internationalization on the firms risk and leverage depends on whether the firm is moving upstream or downstream. INTERNATIONALIZATION AND LEVERAGE Aligning with the above, the association between internationalization and firm risk suggests a leverage effect as well. Traditional capital structure theory posits that as firm risk increases the debt utilization decreases (Reeb Kwok 2000). Hence, for firms that are based in the more volatile emerging economies, their overseas expansion may lead to more debt utilization, as they may gain access to debt that was not previously available. The converse is also true. This view of the leverage aspect of upstream-downstream hypothesis suggests a negative association between leverage and internationalization for firms based in the more developed economies and vice versa (Reeb Kwok 2000). That is, firms that are moving upstream tend to have a positive relationship between the firms leverage and internationalization while those moving downstream tend to have a negative association. This implies that the overall effect of internationalization on the leverage of multinationals is equally dependent on the home and target market conditions. This next section will explore on the corporate diversification theory and the effect of agency costs and internal capital markets on the firms’ leverage. In particular, the agency conflicts and efficiency of internal capital markets will be used in providing an explanation as to why multinationals tend to have lower levels of long-term debt but more use of short-term debt than non-multinational firms. CORPORATE INTERNATIONAL DIVERSIFICATION The corporate international diversification theory posits that multinationals should have lower risk and higher financial leverage than the domestic corporations (Doukas Pantzalis 2001).   One of the main reason as to why corporations would not take 100% debt in their capital structure is because of the risk of insolvency (Doukas Pantzalis 2001). Given that this risk is not linear but increases with higher debt levels, firms can thus limit their leverage in order to avoid incurring bankruptcy costs. There are a variety of business risks as well as opportunities that stem from corporate international diversification. Business risk which is typically measured by the volatility of the operating net income refers the cost of financial distress or rather bankruptcy cost (Doukas Pantzalis 2001). Both the domestic and multinational firms are also faced with exchange rate risk. That is, the risk that fluctuations in currencies will affect the demand and supply, price and cost characteristics of the corporation. There is also the risk of higher agency costs which faces multinational firms. MNCs face higher agency costs due to auditing costs, monitoring costs, different accounting systems, different legal systems, sovereignty uncertainties, language differences, labour market and capital imperfections as well as the different asset structures (Doukas Pantzalis 2001). Agency costs are known to have a significant impact on the optimal debt level as will be discussed below (Doukas Pantzalis 2001). Political risks arise from political events that may have adverse effects on the economic wellbeing of the firm. For example, potential conflicts may arise between the goals of the government and those of the foreign firms. This is especially the case with foreign direct investment, given their effect on the host economy. Among the benefits put forth by scholars is the view that through international diversification, firms are able to increase on their debt capacity and reduce their bankruptcy costs (Doukas Pantzalis 2001).   It has been argued that risks are reduced by portfolio effects due to the imperfect correlation of foreign cash flows. In this regard, Fatemi (1984) and Agmon Lessard (1977) point out that diversification benefits reduce the bankruptcy costs and increase the debt usage by multinationals. AGENCY COSTS AND FINANCIAL STRUCTURE OF MULTINATIONALS The documented puzzle that multinationals tend to have lower levels of long-term debt but more use of short-term debt than non-multinational firms warrants an explanation. There are many reasons as to why one would expect multinationals to have different leverage ratios relative to the domestic corporations. First, given the international nature of their operations, MNCs are expected to have access to more capital sources unlike the domestic firms (Doukas Pantzalis 2001). Therefore, they can raise more capital via foreign debt financing and at more favourable terms than the domestic corporations (Doukas Pantzalis 2001). Consider, for example, the case of multinationals that have subsidiaries in countries with different tax rates. These multinationals can benefit a lot by borrowing through foreign affiliates exposed to high tax rates, hence increasing their tax shields (Butler 1999). It therefore follows that due to access to external sources of financing, these multinationals should in general have higher debt ratios than the domestic firms (Butler 1999). Another reason as to why Multinationals should exhibit higher debt ratios than non-multinational firms is that the foreign debt can be used as a hedging instrument against the risk of foreign exchange (Butler 1999). Given that multinationals have higher levels of foreign exchange exposure in comparison to the domestic firms, they are thus expected to make greater use of debt financing than the local firms (Butler 1999). Additionally, since multinationals are subject to political and exchange rate risk exposures, it is expected that these multinationals should have higher overall debt ratios relative to the local firms (Butler 1999). Thirdly, due to industrial and geographical diversification of operations of MNCs, they are expected to have lower business and financial risk than the domestic firms (Doukas Pantzalis 2001). This has the impact of reducing the cost of debt and therefore increasing leverage. This implies that the leverage of multinationals should have a positive relation with foreign involvement while financial distress should have a negative and greater bearing on DMCs leverage (Doukas Pantzalis 2001). However, while hedging, financial distress, liquidity and operating considerations imply that multinationals are more likely to have greater leverage than the domestic corporations, findings from empirical studies show that these multinationals have instead lower long-term leverage relative to the domestic firms (Doukas Pantzalis 2001). Three possible explanations can be given for this finding. These include: (Doukas Pantzalis 2001) Efficiencies of internal capital markets Agency costs of debt Legal and institutional differences across counties where multinationals operate. INTERNAL CAPITAL MARKETS Since MNCs have numerous divisions operating across countries, they tend to create extensive internal capital markets which may provide cheaper financing relative to the external markets (Doukas Pantzalis 2001). Hence, where the internal capital market is efficient, MNCs tend to rely more on internal financing than the external one. As a result, they tend to have lower leverage than the domestic firms. Consequently, a non-positive relation between the firms leverage and its foreign operations can emerge when internal capital markets bypass external capital market informational asymmetries (Doukas Pantzalis 2001). In a recent study, Matsusaka Nanda (1997) and Scharfstein Stein (1997) examined the improved capital allocation in internal capital markets and the associated agency costs for firms that had diversified their operations. They found that diversified firms could use internal capital markets in funding profitable projects, which would not be financed in external capital markets due to agency costs and information asymmetries. This implies that the external debt financing need for multinationals can be attenuated and that the low levels of leverage for Multinationals should reflect the strengths of internal capital markets (Doukas Pantzalis 2001). This view certainly indicates a negative relation between industrial diversification and the leverage of multinationals. That is, MNCs debt ratios should exhibit a negative and more pronounced association with industrial diversification than the domestic firms. AGENCY COSTS OF DEBT The agency cost of debt effect on leverage of multinationals arises from their industrial diversification. Since their operations are geographically dispersed, the cost of gathering and processing information is generally more costly for MNCs than the domestic firms (Doukas Pantzalis 2001). Therefore, multinationals are expected to have more inherent agency problems between the debtholders and shareholders due to their diverse geographic structure. It therefore follows that bondholders will require higher interest payment on loans to firms that have greater monitoring costs and are more susceptible to asymmetric information problems (Doukas Pantzalis 2001). This implies that firms which have diversified their operations are more likely to have their debt ratios lower than domestic firms. Further, firms with greater foreign involvement are expected to have a negative and more pronounced relation between the firms leverage and agency costs of debt, than the domestic firms (Doukas Pantzalis 2001). Several authors have suggested that, unlike the domestic firms, multinationals are likely to support more debt in their capital structures. Burgman (1999), however, contests this claim and in fact argues that multinationals have, in the actual sense, less debt in their capital structure. He addresses whether factors such as the political and exchange rate risk and the agency costs can explain this phenomenon. The findings of his study show that multinationals tend to have higher agency costs and that diversifying their operations does not lower their earnings volatility. CONCLUSION Clearly, there are inherent business risks as well opportunities that stem from corporate diversification. While we do not ignore the cross-border benefits of corporate diversification, we suggest that the overall effect of internationalization on the firms risk and leverage can be predicted by an upstream-downstream hypothesis. REFERENCE Agmon, T. and D. Lessard, 1977. â€Å"Investor recognition of corporate international diversification†. Journal of Finance, 32:1049-55. Bartov, E., G. Bodnar, and A. Kaul,   1996.  Ã‚   â€Å"Exchange rate variability and the riskiness of US multinational firms: Evidence from the breakdown of Bretton Woods†. Journal of Financial Economics, 42: 105-132. Burgman, T. A., 1996. â€Å"An empirical examination of multinational corporate capital structure† Journal of International Business Studies, Vol 30, pp. 553-570. Butler, K.C., 1999, Multinational Finance, 2nd edition, Cincinnati, OH: South-Western College Publishing Chen, C.J. P., C.S. 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Journal of Financial and Quantitative Analysis 36, 395–414.Chkir Cosset (1999) Scharfstein, D.S, 1997, The dark side of internal capital market II, Working Paper, MIT press.