The role of German military in implementing Nazism Essay

The role of German military in implementing Nazism - Essay Example The Allies had controlled the size of the German military through the Treaty of Versailles, in hope that through controlling the re-constitution of the German military, the chances of German aggression against its perceived political enemies from World War I would come to an end. The coming into power of Adolf Hitler saw the renunciation of the treaty of Versailles just two years into power, and the consequence was the growth, expansion and re-creation of the German military, with the military that previously consisted of only 21 divisions growing into over 100 divisions, and thousands of smaller units during the Nazism regime period between 1935 and 1945 . The end of 1945 saw over 13 million Germans serving in the German military, compared to only 100,000 people who constituted the German military in 1933. Thus, it is the German military, more than any other arm or institution, which was responsible for the implementation of the Nazism ideologies through military force and combat, r esulting in the successful thriving of Nazism in Germany . Part II: How Germany implemented the HolocaustThe first step towards the implementation of Holocaust in Germany was the implementation of the Nuremberg Laws in 1935, which sought to maintain the purity of the German blood by restricting any form of intermarriages between the Germans and the Jews .   In addition, the laws also deprived the Jews of the German citizenship, while also prohibiting the Jews from having non-Jewish maids, and also outlawing.

Fashion and Marketing: Individuality vs. Conformity

Fashion and Marketing: Individuality vs. Conformity Fashion Marketing Individuality vs. Conformity. Section 1: Introduction A seemingly intractable paradox underlies Westerners choice of fashion in the twenty-first century. On the one hand, the democratic and social progress made in the West in the past fifty years has led to radical revaluations of, and profound reversals of attitudes towards, issues such as   gender, class, race, social stereotypes, cultural identity and so on: in short, the Western citizen of 2005 has far greater personal freedom for expression than could have been conceivable for a Westerner in 1905 or even 2005 (Craik, 1994). The modern student of Western fashion trends might therefore reasonably expect to notice in the clothing choices and styles of twenty-first Westerners ever greater diversity and individuality to notice a kaleidoscopic and multi-coloured efflorescence of personal freedom in fabric and cloth. And, indeed, in many instances in Western society there is a profusion of individual styles mirroring newly liberated individual personalities. Yet, on the other hand, des pite this potential for individuality, the fashion student notices, paradoxically, that Westerners are exhibiting an ever greater homogeneity and similarity in their clothing choice for instance, the ubiquitous presence, amongst certain definable social groups, of trendy brands like Tommy Hilfiger, Zara and FCUK. The principal force behind this homogeneity is argued to be (Miles, 1998 Radford, 1998) the massive and all-consuming power of giant global fashion houses and their resources for mass branding and advertising. To many fashion critics and scholars these hugely powerful companies have come to swamp the potential for personal and individual expression that was made possible by social changes in Europe and America in the past fifty years. In a further paradox, it was these very changes themselves, and the liberation and emancipation of consumer power and choice which they released, which provides the consumer markets and spending-power which make these huge companies possible. In other words, for the gender, class, and social revolutions of the twentieth century to happen this required the protests and emancipation of Western masses; but this very freedom itself created a mass homogeneous market that could be exploited by fashion corporations themselves made possible by these changes. I n   a final paradox, Rosenfeld (1997) and Davis (1993) argue that modern man is free to choose the clothes he wears and so is himself responsible for submitting himself and his individuality to temptations of mass production and consumerism   that surround him. The fascinating question before this literature review is then: why is it   that Westerners, granted at last a large measure of personal freedom for expression, ‘choose’ nonetheless to submit themselves to mass trends and to enslave themselves to perhaps an ever greater extent than when such freedom was not obtainable? Of further interest is the question: how have particular cultural groups, and fashion trends, resisted mass consumerism of fashion, and gone on to use these new freedoms to establish exciting and original expressions of their personalities? Section 2: Sources A few words about the origin and authority of the sources used for this literature review   are perhaps necessary before turning to the main themes of the review.   The principal type of source discussed in this literature review are academic books and journals; in addition, some internet sources are employed also. The academic books referred to in this review are amongst the seminal texts in the literature of fashion and marketing, their authors world-class experts in   their fields, and therefore the reliability and authority of their material is extremely high. The fashion student can have high, if not complete, confidence in his employment of these sources to illustrate his themes and arguments. Likewise, those texts from other fields in this review, such as Freud’s The Interpretation of Dreams (Freud, 1900) or Lacan’s Language of the Self (Lacan, 1998), are usually included by critics and scholars in their lists of the most important works of the twentieth-century. They too then may be used by the fashion student with a high degree of trust in their authority and reliability. A note of caution might be sounded however about   the employment of internet sources in any literature review. Whereas the process of publishing work in an academic book or journal is a lengthy one, requiring considerable cost and numerous stages of scrutiny by fellow scholars and experts, thus ensuring the quality of those sources, nonetheless, the standards required for publication on the internet are often lower and less vigorous. The vast profusion material released daily on the internet requires the conscientious student to subject the internet sources he employs to greater scrutiny and doubt than might be the case with academic books or journals published in the traditional paper-based way. Consequently, the internet sources used in this literature review have been vigorously scrutinised and tested for their reliability in the fashion described above.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Section 3: Review The following literature review is discussed according to the following thematic schema in five parts: (1) The Paradox of Individuality and Conformity, (2), Global Trends and World Markets, (3) Semiotic Theories of Fashion Promotion Visual Communication, (4) Popular Cultures and Distinctive Identities, and, (5), Sociological Philosophical   Views of Class, Gender, Social Stereotypes and Cultural Identity. The Paradox of Individuality and Conformity The contemporary situation in Western fashion and personal clothing choice is one of apparently irresolvable paradox: Westerners are today endowed with ever greater personal freedoms, extending naturally to their choice of personal clothing and one would expect this freedom to lead to a plethora and profusion of individual styles and manners of dress: these freedoms should result in less conformity of style than was present in say 1905 when gender, class and social prejudices compelled and forced a person to dress in a particular way and style. Yet, despite these abundant new-found freedoms, Western clothing choice in 2005 seems to display ever greater conformity and homogeneity. That is, Westerners are ‘choosing’ to dress more and more alike one another Westerners’ expression of their personalities through their choice of style is showing ever greater similarities to one another. How then could this be possible? This question is discussed at the general level in great depth by F. Davis (1993) Fashion, Clothing and Identity and by Fiske (1990) in Introduction to Communications Studies.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Global Trends World Markets The most persuasive and frequently given answer to the above   question is that the rise of huge fashion houses such as Louis Vuitton, Tommy Hilfiger, Armani, Prada, Zara, amongst many others along with their massive resources for branding and advertising, have drowned-out the recently attained freedoms of Western individuals to reflect their personalities in their choice of clothing. This point is powerfully made in D. Crane’s seminal text Fashion and the Social Agenda: Class, Gender and Identity in Clothing. (Crane, 2004). Crane argues that just at the critical historical moment (the end of the 20th Century) when Westerners were finally endowed with greater personal freedoms in fashion and personality expression than ever before, that these freedoms were immediately smothered by forces such as globalization and capitalism which gave birth to vast fashion corporations whose financial resources and advertising capacity have become too great and powerful for individual expr ession to poke through and flower. This point is corroborated and reinforced by numerous other scholars and authorities in fashion and marketing. F. Davis (1993) in Fashion, Culture and Identity, L. Rosenfeld (1997) in Clothing as Communication, and J. Craik (1994) in The Face of Fashion; Cultural Studies in Fashion all endorse Crane’s central premise that individual freedom of personality expression through clothing and style is suffocated by the capitally fuelled force of the major fashion brands to overwhelm this expression through relentless psychological pressure, carried by advertising, to conform to the style and choice ‘imposed’ and ‘decided’ by these companies and not by individuals themselves. M. Barnard in Fashion as Communication (1996) makes an interesting refinement of this basic premise by suggesting, in a further paradoxical statement, that it is the very freedom of gender, class, social status etc., of the past fifty years which has led to ever greater conformity to popular styles and to an even greater imposition of style than existed before such freedoms were possible. In other words, to echo a sentiment expressed by Nietzsche in 1888 (Nietzsche, 1888) and Freud in 1900 (Freud, 1900) human beings have natural herd instincts which are present whether people are free or not, and these instincts generate the need for leadership and imposition from one source or another. Thus, whilst before the 1960’s style conformity was forced upon Westerners by gender and class stereotypes, nonetheless, after the 1960’s when these stereotypes were lifted, Westerners became susceptible to a new ‘authority’, ‘imposition’ and ‘leadershipâ €™ in the form of vast fashion corporations whose choice of style and expression is propagated through intensive branding and advertising. According to this philosophical view, endorsed by Bruce Stella and Pamela Church Gibson (2000) in Fashion Cultures Theories: Explorations and Analysis, the personalities of Westerners today and their choice of expression of their personalities through clothing, is largely decided by fashion corporations and advertising companies thus resulting in the uniformity of style and expression which is so evident from a casual glance at our high-streets today.  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Semiotic Theories of Fashion Promotion Visual Communication A interesting example of the practice of a semiotic theory of fashion promotion is that discussed in A. Rhodes’ and R. Zuloago’s paper ‘A Semiotic Analysis of High Fashion Advertising’ published in 2003. The chief motif of Rhodes’ and Zuloago’s work is that ‘Fashion advertising is an excellent example of identity-image producing media’ (Rhodes   Zuloago, 2003: p8). They state at the outset of their paper that ‘The nature of the product is tied directly to identity those objects with which we encase our bodies for public display  ­- and fashion is acknowledged as a cultural language of style’; a little further on they add ‘Taken as a whole, high fashion media and advertising describe a spectrum of identity, unified in general types of signifiers young women, high   status, high sexuality and through the constant repetition and variation of images on these themes serve to create this identity spectrum.â €™ (Rhodes and Zuloago, 2003, p1). Thus, in their paper, Rhodes and Zuloago seek to define the symbiotic relationship between high fashion and the cultural and social identity of one particular social group: young, rich and sexually confident women. Rhodes and Zuloago argue that the advertising campaigns of companies like Prada, Donna Karen, Armani, Dolce Gabanna and others like them, speak so powerfully and seductively to these women, and that the images employed penetrate so deeply into their consciousness and social orientation, that they come to identify their personalities almost wholly with the product. Rhodes and Zulago recognise, nonetheless, that whilst the influence of major fashion brands over social groups like the one mentioned above is immense that these groups too, by their social characteristics and newly liberated personalities, constantly force the fashion brands to invent new styles and designs that evolve to reflect the changing consciousness of these particu lar and individualistic groups (Rhodes Zuloago, 2003: p5). The symbiosis is nearly total; and similar relationships between major brands and other social groups are evident throughout modern Western   culture.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Popular Cultures and Distinctive Identities R. Radford points out in Dangerous Liaison: Art, Fashion and Individualism (1998) that the mass conformity of modern fashion style and personality expression is not of course universal, and many original and fresh styles punk, gothic, ethnic, etc., have arisen from the social freedoms of recent decades, both in reaction to the preceding centuries of restricted expression and also in reaction to the monotonous uniformity of the mass-branded   and consumer-based style. As suggested in the last sentence, Radford distinguishes between styles which are (1) a reaction to the restrictions of former centuries, (2) those which are defiances of the modern branded uniformity, and, (3), those which are a reaction to neither, but rather are healthy and original efflorescences of cultural uniqueness and individual expression. In the first category Radford places the astonishing growth in popularity of ‘gender-liberated’ products like bikinis, short-skirts and casual clothing which were, in other centuries, repressed by the authorities either because of gender prejudices or inequalities, or because of antiquated ideas about the morality or sexual imprudence of certain items and styles of clothing. To take an instance of gender discrimination cited by Radford (Radford, 1998: pp. 142-148), it was not socially or morally permissible for women in former times to wear beach attire (bikinis, swim-suits etc.,) that revealed or celebrated anything of the sensuousness or beauty of the female figure; women were therefore universally condemned (in Western countries) to wear a single type plain, non-sexual beachwear. But since the lifting of this social prejudice and stigma, there has been a profusion of designers, from Gucci and Dolce Gabana to Zara and BHS, who have produced modern designs which allow women to celebrate the sensuality and beauty of   the female figure. Women today enjoy the same rights as men to wear what they like either to the beach, to the disco or to work; thus, in this instance, despite the domination of the fashion brands, women now have the opportunity to, and do indeed exhibit in practice, a greater expression of individuality of personality than was possible or permissible before the last decades. In the second category, Radford places fashion styles like punk and gothic: styles which rebel   against the conformity of modern mass-consumer culture and relish in the controversy and upsetting of convention induced by the difference of their style. Studded clothing, fluorescent coloured hair, male make-up, cross-dressing etc., are rebellions against the usual fashion paradigm and make the personality statement that some people disagree with popular sentiment and convention and express this in clothing styles that are often shocking and scandalous (Barthes, 1983).  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In the third category are individualistic styles, such as ethnic, which are neither reactions to historical repressions or to modern mass conformity, but which are rather healthy flourishing of individual personality or philosophy. For instance, contemporary Western style permits a greater exhibition of ethnic clothing or pride in national dress than was acceptable fifty years ago. F. Davis argued as early as 1988 in Clothing and Fashion Communication that clothing could be a vehicle for greater racial tolerance and for multi-culturalism and racial integration in modern Western society. A concomitant of this toleration is a celebration and pride in the wearing of clothes of national dress; clothes that display part of the person’s personality repressed for decades.     Ã‚  Ã‚  Ã‚   Sociological Philosophical Views of Class, Gender, Social Stereotypes and Cultural Identity Jacques Lacan in Language of the Self (Lacan, 1997) gives a fascinating philosophical and psychological interpretation of the individuality vs. conformity paradox, filtering it the prism of class, gender and social stereotypes, to argue that human beings are essentially language-animals and can be manipulated if one finds the key to the use of this language. Lacan argues in his seminal text Language and the Self (1997) that the social freedoms attained by Westerners in the past half century have given them Westerners unprecedented opportunities to reflect their innermost ‘self’, their basic human constituency, through new cultural media such as television, the arts, and by derivation, fashion and our choice of media. Lacan argues further that the ‘self’ of previously repressed groups such as women, homosexuals, African-Americans and so on is now able to manifest itself in cultural forms that had previously been repressed for centuries, and which are now burs ting out in the diversity of artforms prevalent in our society today. Nonetheless, through his   principal scientific and philosophical investigation into the language-animal, Lacan argues that Westerners have been seduced by the clever and innovative marketing campaigns of the major fashion brands, who use slogans and images to target specific social groups. Thus Lacan explains the phenomenal seduction of modern Western man to the worded slogans of designer labels and celebrity endorsed products. Lacan suggests that the advertising campaigns of major fashion brands seduce the consumer’s unconscious directly and that this explains the phenomenon of mass conformity to such a homogeneous type of personal expression through fashion as is evident in our society.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Section 4: Conclusion In the final analysis, the literature of the fashion and marketing texts on the subject of individuality vs. conformity, and the influence of branding upon this relationship,  Ã‚   reveals the following points. Firstly, that a curious and complex paradox deeply underpins the dynamics between individuality and conformity. To the one side, the liberation of women, homosexuals, formerly repressed racial groups, underprivileged classes and others, in the second half of the twentieth-century, has led to a huge mass of people in Western society who have previously unimaginable freedom to wear whatever styles and types of clothing they believe best express their individuality and uniqueness. For instance, gender prejudices removed, women can now wear trousers ; race prejudices declining, repressed groups can wear a city suit or opera tuxedo; in many other instances Westerners are free to dress as however their mood, philosophy and occupation inclines them. On the other hand, the ceaseless ascent to prominence and immense power of the great fashion houses and fashion brands has led to a blanket of homogeneity being spread over the personal expression of many Western consumers. Philosophers like Lacan, and psychologists like Freud and Nietzsche, suggest   that man has an innate herd instinct that compels him to conform to the trends of the crowd and to seek a higher authority and leadership to decide and impose his personal expression upon him. According to this view, despite the newly attained freedom of Westerners, they have substituted for the old imposition of gender and class barriers the new authority of the mass product and the famous brand. Thus ‘personal choice’ and ‘freedom of expression of personality’ through clothing are   merely illusions that do not   correspond to modern reality. Furthermore, the conformity of modern Western dress is, according to D. Crane (Crane, 2004), even more intense today than in other centuries, s ince in 2005 particular styles and mass produced clothing items Crane gives Levi’s jeans as an example permeate all classes and genders of society and therefore have a ‘total sphere of conformity and influence’; in other centuries a particular item or style of clothing would only dominate one social group; today brands like Nike, Zara, Levi’s, Armani and so on, can penetrate the personal expression of every social group from top to bottom. Nonetheless, the flourishing of reactionary and rebellious fashions expressions such as punk and gothic, as well as the profusion of small individualistic designers and such styles as ethnic suggest that the mass produced fashion items have not and will not dominate totally and may even be forced back a little as personal expression is allowed to bloom in the new forms and clothing styles of the twenty-first century. Our final words might be these: that the question of conformity vs. individuality now hangs in a delicate balance and equilibrium, that Western society pivots at a vital moment in the history of its ability to be able to define itself. The opportunity exists for   Westerners to dazzle the world with an efflorescence of new styles of clothing that reflect the cultural diversity, racial integration, and class assimilation achieved in the past fifty years. The danger remains nonetheless that these achievements and potential expression will be swamped by the relentless mar ch of mass consumer fashion and our seduction to it.  Ã‚  Ã‚  Ã‚  Ã‚   Section 5: Bibliography   Academic Books, Journals Articles Barnard, M. (1996) Fashion as Communication, Routledge Barthes, R. (1967, 1983). The Fashion System, New York: Hill and Wang.   Bruzzi Stella Church, P.G. (2000). Fashion Cultures Theories, Explorations and Analysis, Routledge Craik, J. (1994) The Face of Fashion; Cultural Studies in Fashion, London: Routledge. Crane, D. (2004). Fashion and Its Social Agenda: Class, Gender and Identity in Clothing. Oxford   University Press, Oxford.    Davis, F. (1985). Clothing and fashion as communication, in Solomon, M. R. (ed.) The Psychology of Fashion, Massachusetts: Lexington Books. Davis, F. (1993). Fashion, Culture and Identity, Chicago, IL: Chicago University Press. Du Gay, P. (1996). Consumption and Identity at Work, London: Sage.   Fiske, J. (1990). Introduction to Communication Studies, London: Routledge Freud, S. (1900). The Interpretation of Dreams. Penguin, London. Lacan, J. (Reprinted 1997). Language of the Self, Baltimore, MD.: Johns Hopkins University Press Mead, G. H. (1934). Mind, Self and Society, From the Standpoint of a Social Behaviourist, Chicago, IL.: University of Chicago Press Miles, S. (1998). Consumerism as a Way of Life, London: Sage Publications Nietzsche, F. (1888). Ecce Homo. Peter Gast Books, Basel. Quirk, R. (Et al.). (1989). The Oxford English Dictionary. Oxford University Press, Oxford. Radford, R., Dangerous Liaison: Art, Fashion and Individualism, Fashion Theory, vol. 2, issue 2, Oxford: Berg, 1998, pp. 151-64.   Rosenfeld, L. B. and Plax, T. G. (1997). Clothing as communication, Journal of Communication, 27: 24-31. Smith, A. (1759/1976). The Theory of the Moral Sentiments, Edinburgh.   Internet Sources Mead, G. H. (1934). Mind, Self and Society, From the Standpoint of a Social Behaviourist, Chicago, IL.: University of Chicago Press http://www2.pfeiffer.edu/~lridener/DSS/Mead/MINDSELF.HTML   Smith, A. (1759/1976). The Theory of the Moral Sentiments, Edinburgh.   http://www.adamsmith.org/smith/tms-intro.htm   Rhodes, A. Zuloago, R. (2003). A semiotic Analysis of High Fashion Advertising.   www.garhodes.com/Semiotics_of_Fashion.pdf Feminism: Sexism and Society Feminism: Sexism and Society Feminism as a concept is one with a variety of different views. While to some it may seem like a rightful assertion of what they believe society should be, some believe it to be unrealistic and too idealistic. They believe that by relying too much on the principle of feminism, they are overdoing it, thereby resulting in the loss of the effect of the concept as such. Feminism as a concept emerged during the late 19th century, where the important demands made were that of more rights in the public sphere, the right to vote, the right to own property, and obtain a reasonable education. (footnote book). As time went on, and women felt more and more comfortable with asserting their rights openly, newer topics like sexuality, reproduction, domestic violence, domestic labour etc, came into prevalence (footnote book). Feminists then believed that the major thing lacking in society was the fact that masculine ideas were being used in both the political and social fields. (footnote book). The concept also aims to be relevant in the present day context. Feminists have tried to tackle issues such as single mothers handling a household, lower wages, especially in the present day, poverty and lack of education for most women, even today.(4) Feminism in India has also been gaining some momentum with the new age. Womens magazines, women oriented television shows etc, are helping this new wave of feminism in the country. This paper attempts to look at the variety of ways that woman oriented mediums aim to promote feminism in our country. It also tries to decide whether these mediums are promoting or in fact contesting the concept of feminism. WHAT IS FEMINISM? Feminism is basically an idea that aims to end all forms of sexism that exist in the world presently. There are however, several variations of what this sexism actually is, and the different ways by which it can be resolved. Also argued, is the role of a man or a woman in society, and what implications each gender has in society. Nevertheless, the feminist perspective provides interesting views on matters such as reproduction, sexuality, labour, poverty, racial discrimination The meaning of the term feminism has differed greatly throughout the world. While in the U.S and the U.K it started out as being mainly a political wave, demanding for the right to vote, in other parts of the world writers have mainly looked at the injustices faced by women, although the nature of these injustices may not entirely be certain. In 1892, the first International Womens Conference was held in Paris. Only after this, did the word feminism start to be used in its serious sense in society. Second and third wave feminism was mainly generated to look at the shortcomings of earlier theories of feminism and avoid the domination of ‘white women, in the field. A sincere attempt was to be made to look at the views of coloured women and others as well. An attempt to help the situation would be to look at feminism as a set of ideas and beliefs rather than looking at it as a political ideal. A lot of occurrences take place even outside the political sphere that ascertains the need to improve a womans position in society. Although feminism may have started as focusing only on the legal and political aspects of a womans life, it has broadened to the more social issues now. Oppression is the feminists key issue. Feminists fight to resolve oppression and ensure justice. Oppression is unjust and a woman, like any other person in society has a right to ensure that they obtain justice. Another area where feminists argue the need for equality is the economic sector. It is believed that with the increase in economic equality, the society can become a better place to live in. However, it may also be said, that at times sexism also works against men. There are instances where men also may come under the radar of being victims of sexism. But, it is commonly agreed upon that women usually suffer the brunt of inequality more than the men do. Sexism, also just does not examine several harms that are committed, but looks at the fact that someone is harmed because she is a woman. There is no one single form of oppression that a woman faces, and that several forms exist and manifest themselves in a variety of ways even today. Even though there are variations in the way feminists differentiate themselves from one another, an agreed framework is being sought after to monitor equality and growth of women. There will most definitely be a set of principles that all women will look to fight and ensure parity for women in society. Such principles may include, equal wages, reproduction etc. (book 15). One of the main requests of feminists has also been to give women more recognition in the public sphere. This is the only way that women would be looked as being worthy enough to be respected even at home. (15). Liberalisation, also to a certain extent helped the cause of feminism. Liberal thought had its roots in rendering individual rights and giving an individual all the importance as may be necessary. The argument of being treated at an equal level with the men in society, sprung mainly from the liberal theory. Since the liberal theory believed that the only just and fair system was one that did not discriminate among individuals under any circumstance, feminists adopted this idea to their advantage. (26) Thus, feminism is a doctrine aimed at ensuring that women are treated on par with men in society. Although the interpretations of this doctrine may vary from person to person, the main idea is common to all- that is the progress of women in the society at the same level as men. FEMINISM IN INDIA India, as a country from time long before, has been neglected in the sense that it is a third world country and is capable of offering only so much. The concept of feminism holding a high ground in such a country would not be feasible. Womens Studies in India have been looked as a socio cultural subject as well as an effort to trace the role of women in the country and how it has changed. Footnote http://books.google.co.in/books?id=YICroPrSyz4Cprintsec=frontcoverdq=feminism+indiasig=3ws6hFGtDrSM4hgxXZD6cknaKOU#PPA3,M1 As the 19th century dawned in India women were more open to creating new roles for themselves, some that men had not thought about creating for them. Pg 6. The advent of the colonial rule was what proved to be most influential to the feminist movement in the country. With the coming of the colonial rule, women were exposed to what could be a life suited for them. There was a lot of debate concerning the fact that very difference between a man and a woman is what made women more apt for social roles, like that of a mother. However, women started organizing campaigns and joined organizations, their role as a mother was used to argue the fact that for this very reason they should be given access to education and overall emancipation. Also, during the colonial rule, Gandhi had an effect on the growing perception of feminism in the country. He was hailed as the founder of the Indian feminist movement. His definitions of the qualities of a woman were used by a variety of women during the pre- independence feminist period. Women during the pre- independence period based most of their theories on the likeness rather than the difference in ideas they might have. In post- independent India feminism achieved a slightly higher status than before. Women here asserted their rights to be treated equally and fairly within society. They dismissed the need for gender based structures in society and division of labour based on sex. They believed that there existed only a biological difference between men and women and that under no circumstance should that affect the ability of a woman to be able to perform on par with men in the society. The role of being a ‘mother and a ‘daughter was widely emphasized in the earlier Indian times. This however changed and became more to do with depicting the helplessness of these women. There were pamphlets, exhibitions held to show the vulnerability of a woman and how it was being exploited by all people in society. This in turn led to feminism being more open and resulting in there being a change of the image of a woman from someone helpless to someone economically strong and independent. While in pre- independent India it was accepted that a woman was socially backward and had only a certain fixed place in society, in the mid seventies, this changed drastically. All issues regarding unequal wages, pushing women into unskilled areas of labour were sought to be contested fiercely. It was believed that no woman, especially in that time was to be subjected to inequality. Another reason why the issue of feminism gained heavy importance was that by nature, the Indian society was male dominated and most causes of problem arose out of this very difference. The sphere of what feminism would also look to abolish was also greatly widened. The body of a woman, which had been looked at, socially, as something very disposable was now treated with much more respect. Even legally attempts were made to provide solace and justice to those women who had been raped, that had not earlier been available. This was further broadened into marital rape and rape of prostitutes alike. Women were to be treated as rightful members of society and had to be treated with equal dignity and respect. Towards the latter part of the twentieth century, women were to be given the right of self determination. They were looked as being capable of making their own decisions and therefore should be given a right to make all major decisions themselves. After independence attempts were also made by the congress to make sure that women got equality under the constitution. Feminists were in fact the first ones to start and recognize the need to codify personal laws in the country. Suggestions were made even by Dr. B.R Ambedkar to make sure that women were given a strong status in society. The age of consent to marriage was increased; the age of when a woman can be married was also increased. Several reforms were also introduced to ensure the right of a woman to a divorce and property. (96) The Hindu Marriage Act, The Hindu Minority and Guardianship Act were also seen as being significant in ensuring all personal laws were codified and women had a right to claim their rights even in a court of law.Movements like the Shahada movement also became popular after the rise of feminism. The shahada movement aimed at resolving domestic violence, especially in the low down areas of society. If a man beat his woman up, he had to apologise to her in public.(101) In addition to this, there were also anti-price rise demonstrations in Bombay and Bihar. With the advent of such movements, women became more comfortable with trying and portraying themselves in public and showing that they were also capable of doing something revolutionary in society. (102)Issues were raised to contest that a family was primarily looked at as a unit of consumption than a unit of production. Furthermore, women were looked at as being the main source of this consumption. So, whenever there was an economic problem, with respect to goods, a woman was always deemed to be at fault. (104). In modern India also such issues of a womans position in society is taken into account. Even now there are disparities regarding whether a woman should be allowed to work and step out of the house or not. It was also realized that what maybe feminism for women in the urban community may not be the same for those in the lower or rural communities. What has been analysed by many women today as being problems in the urban society may differ from those that are considered to be problems in the rural communities. A woman from the labour or working class of society will have a larger set of problems than say a woman living in the city with a job.(106) Therefore, although there are irregularities regarding the actual position of an Indian woman in society, one thing that is certain, is that their role has been increasing steadily in society. http://books.google.co.in/books?id=68xTBT1-H4ICprintsec=frontcoverdq=feminism+indiasig=Y6Dw_kI47maXDQqZ1UGuIJDE7TM#PPA104,M1 WOMENS MAGAZINES IN INDIA Food, gossip, relationship advice, beauty tips, you name it; a womans magazine has it. With the new age of liberal women, womens magazines are also gaining huge popularity among the masses of women. The womens magazines are an ideal way for a woman to spend her free time, and at the same time get advice on something she probably would not find elsewhere. These magazines have become so popular today that every bookstore and every library has copies of them. No woman, in todays day would deny having read any of these magazines at one point. There are several leading womens magazines in the country now. Femina, Womens Era, Verve, Good Housekeeping, to name a few are the leading magazines sold in India currently. http://explore.oneindia.in/media/magazine/womens/ The trend of womens magazines was started mainly to infuse a new perspective in a male dominated society,as mentioned by a recently bought about magazine- Feministing. http://feministing.com/archives/004002.html The issues dealt with in these magazines are that of educational opportunities for women, food, maintaining a home, relationship advice, advice to single mothers etc. The magazines look at issues that otherwise a woman would not be too comfortable talking about with to her family members. These magazines also provide suitable solutions for various issues a woman may face. For example the magazine Femina, has divided its magazine into various sections, which include- food, health, beauty, relationship, homemaking, travel etc. Beauty and health sections, give you tips on how to maintain a healthy figure and to eat right. The relationship section gives you advice on all matters regarding relationships including how to start one, how to end one, issues regarding mother-daughter conflicts. Travel destinations are also explored thus givinG http://www.femina.in/

Soccer Cant Make the Big Time in the U.S.A. :: Cause Effect Essay Sports

Soccer Can't Make the Big Time in the U.S.A. Soccer — or football (or foosball or futbol), as it is called by the rest of the world outside the United States — is surely the most popular sport in the world. Every four years, the world championship of soccer, the World Cup, is watched by literally billions all over the world, beating out the United States professional football's Superbowl by far. It is estimated that 1.7 billion television viewers watched the World Cup final between France and Brazil in July of 1998. And it is also a genuine world championship, involving teams from 32 countries in the final rounds, unlike the much more parochial and misnamed World Series in American baseball (that doesn't even involve Japan or Cuba, two baseball hotbeds). But although soccer has become an important sport in the American sports scene, it will never make inroads into the hearts and markets of American sports the way that football, basketball, hockey, baseball, and even tennis and golf have done. There are many r easons for this. Recently the New England Revolution beat the Tampa Bay Mutiny in a game played during a horrid rainstorm. Nearly 5000 fans showed up, which shows that soccer is, indeed, popular in the United States. However, the story of the game was buried near the back of the newspaper's sports section, and there was certainly no television coverage. In fact, the biggest reason for soccer's failure as a mass appeal sport in the United States is that it doesn't conform easily to the demands of television. Basketball succeeds enormously in America because it regularly schedules what it calls "television time-outs" as well as the time-outs that the teams themselves call to re-group, not to mention half-times and, on the professional level, quarter breaks. Those time-outs in the action are ideally made for television commercials. And television coverage is the lifeblood of American sports. College basketball lives for a game scheduled on CBS or ESPN (highly recruited high school players are more likely to go to a team that regularly gets national television exposure), and we could even say that television coverage has dictated the pace and feel of American football. Anyone who has attended a live football game knows how commercial time-outs slow the game and sometimes, at its most exciting moments, disrupt the flow of events.

Financial Ratios and Stock Return: Evidence on selected Plantation Companies in Malaysia Essay

UNIVERSITI MALAYSIA SARAWAK (UNIMAS) SEMESTER 2 2012/2013 FACULTY OF ECONOMICS AND BUSINESS (FEB) EBF 3183 FINANCE SEMINAR (Group ASSIGNMENT) Financial Ratios and Stock Return: Evidence on selected Plantation Companies in Malaysia NAME:VICTORIA AK JUTI 28578 VENOSHNI A/P MANOGARAN 28577 PHUA WEE WEE 27952 TEOH CHIEN NI 28513 LING LING26752 GROUP:1 PROGRAMME:FINANCE Financial Ratio and Stock Return: Evidence on selected Plantation Companies in Malaysia Abstract This paper is to investigate the predictive ability of several financial ratios for stock return in Malaysia specifically in plantation industry. 23 listed plantation companies were analysed for the period from 2008 to 2012. Four of the common financial ratios were take into consideration in this study. These financial ratios include dividend yield (DY), book to market ratio (B/M), earning per share (EPS), and firm size. Pool ordinary least squares regression (OLS) method is adopted to estimate the predictive regression. The descriptive statistics indicate that there is a negative relationship between the dependent variable and the two independent variables include B/M and EPS. In contrast, the firm size and DY is positive correlated with the stock return. In addition, the empirical results indicate that dividend yield is the best predictor on stock return in the context of Malaysia’s plantation sector. Section 1 Introduction Introduction Research on predicting stock returns using various variables such as inflation, accuracy of disclosure of public information, discount rates are widely discussed in past studies. Return is something that investor expects to receive on their original investment in the future. Alternatively, financial ratios have provided investors another method in predicting the stock return. Previously, financial ratios are used to evaluate performance of a company. So far, numerous studies on stock return and financial ratios have conducted based on different sectors over the countries. However, the research on plantation sector is limited. Therefore, our main focus of this research is to determine the connection between financial ratio and stock return in the Malaysia stock market especially in the plantation industry. The reason plantation sector is chosen as our focus in this research is due to the growing of global demand in plantation. Presently, plantation is one of the major contributors in the economy of Malaysia amongst the sectors. In Malaysia, oil palm industry is currently the second largest export revenue earner for Malaysia after the electrical and electronics (E&E) sector. Meanwhile, Malaysia is also known as the world’s top exporter of palm oil which exported to several countries such as China, India, the European Union (EU) and Pakistan. Essentially, plantation sector is expected to rise in the future. In this study, we examine how the stock return can be predicted by using the financial ratio. 23 of plantation listing firms in Bursa Malaysia are selected as our research data. Meanwhile, the period we take into consideration is over the period from 2008 to 2012. The purpose of this research is to determine the predictability of financial ratio to the stock returns specifically in the plantation sector. By this research, we intend to provide an analysis of forecasting stock return using financial ratio. Financial ratios that commonly used to forecast the stock return are the dividend yield (DY), book to market ratio (B/M), and firm size. However, we extend the study by adding another financial ratio in predicting the stock return which is the earning per share. The empirical findings of this study indicate that financial ratios do have the predicting power on stock return in Malaysia’s plantation industry. Meanwhile, the results also show that firm size has the strongest forecasting power amongst the four variables. Therefore, we can conclude that our findings are somehow in line with past studies conducted by Fama and French (1988) which revealed that dividend yield was a good forecasting tool in predicting stock return in China, Canada and U.S stock market. The remainder of the paper is organized as follows. In section 2, we discussed the previous studies and provide a review of existing literature regarding on predictive ability of financial ratios for stock return. Data and methodology for constructing stock return predictors is discussed in the third section. Section four reveals the empirical findings and lastly followed by conclusion. Objective of study Main: To predict stock return using financial ratios General: To reveal more information regarding financial ratio acts as the predictor of stock return. To investigate how significant is the selected variables in forecasting the stock return. To determine which independent variables has greater predictive power. Significance of study Investing in stock market is risky. Therefore, a predicting tool is important for a wise investor to estimate the appropriate return of an investment. This research is significance in revealing the use of financial ratio as a forecasting tool of stock return. Previously, studies on the determinant of stock return are widely discussed by many of the researchers from all over the world. This study also tends to test whether our empirical results are parallel with previous research. Financial ratio is one of the most common tools that act as a financial analysis to compare the performance between companies or between industries. Currently, financial ratio analysis is not only can be used to evaluate the performance of company but also a predictor tool of the stock return. Financial ratio is computed through the items presented in financial statement of the company. For instance, financial ratio can be divided into several categories such as market debt ratio, liquidity ratio, profitability ratio, investment ratio and others. In addition, this study also acts as guidance and reference for further  research on similar topic. By referring this study, interested investor and researcher can apply different indicator, and other relevant factors to do further research. Theoretical Framework Section 2 Literature Review In this section is described the results of some of the most important researches which conducted in the context of financial ratios and the stock return. The financial ratios as empirical predictors of stock returns in the selected 23 plantations companies listed on the Malaysian Stock Exchange during the period 2008 to 2012. For this research, we used stock price as a dependent variable while dividend yields, book market, earning per share and asset size as independent variables. Stock returns, dividend yield (DY), asset size, earning yield (EY) and book-to-market ratio (B/M) have a strong theoretical background based on the predictive models. Some of the studies such as Fama and French (1988), Stattman (1980), Kothari and Shanken (1997) has done research on predictive variables, including, dividend yield, book to market, earning per share and asset size forecast stock return. Hodrick (1992), Fama and French (1988) has been study that DY has the predictive power on stock returns, a s the relationship between DY and return are developed by the appealing patterns. Moreover, DY track variation in return and can predict future return in 36 international markets. To illustrate the predictive power of DY, they introduced an explosive new test to improve the predictive ability of financial ratios especially DY during 55 years. Therefore, DY is regarded as a good predictor of stock returns in China, Canada and U.S stock market. Consequently, the DY as a strong predictor can contribute to stock return predictability. Banze (1981) and Reinganum (1981) found out that relationship between sizes (market value) has a significant effect on stock return. Smaller companies have more return than bigger companies. It is because first, intentional or unintentional errors are less likely to happen because of installing strong internal controlling systems in big companies, consequently audits can rely more on the company internal controlling systems and decrease increasingly the amount of content test. Second, big companies can recruit more accountants with more expertise and  higher education, and more advanced informational systems. According to study done by Fama and French (1988), they presented a firm background for the relationship between market size and stock return. Fama and French using Running single and mul tiple tests, they found a positive relationship between markets size and stock return. In fact, they doubt on beta sensitivity in capital assets pricing model, and generally stock return. Stattman (1980) has done study on indicated the positive relationship between return and the book-to-market ratio (B/M). Considerable evidence they suggested that BM ratios are related to future returns, and denoted the predictive power of B/M ratio on stock returns caused by the relationship between book value and future earnings, and provided evidence that the B/M ratios predict negative expected returns and track variation in return. The results of recent survey confirmed previous results that the BM ratio is positively related to stock returns. According to Hakkio and Rush (1991) have study on the relationship between stock return and earnings per share. They found that the subdivision do not improve the test power. Besides, there exists a non-stationary problem for stock prices and EPS, the non-stationary may lead to the problem of spurious regression for previous studies. Auret and Sinclaire (2006) has been studied the relationship between the ratio of book value to market value (BTM) and stock return in the years 1990 to 2000 in the companies listed in the Johannesburg Stock Exchange (JSE). In this study is used from the ratio of book value to market value (BTM), price to Earnings (P/E), dividend yield (DY), and firm size as independent and control variables. The results indicate that there is a positive and significant relationship between the ratio of book value to market value and stock return. But there is no significant relationship between the ratio of price to earnings and stock returns. According to Kheradyar, Ibrahim and Mat (2011) has been study on investigated the role of financial ratios as empirical predictors of stock returns in the 100 companies listed on the Malaysian Stock Exchange during the period 2000 to 2009. In their study is used from the variables of dividend yield (DY), earnings yield (EY) and Book-to-market ratio (BTM) as financial ratios to predict stock returns. To estimate the regression model used from panel data and generalized least squares (GLS) methods. Research findings indicate that there is a significant and positive relationship between financial ratios  and stock return of next year. Also, the results showed that the ratio of book value to market value is superior against dividend yield and earning s yield in explaining stock return of next year. Lau, Lee and Mclnish (2002) has been study on the relationship between stock returns and systematic risk with firm size, the ratio of book value to market value of equity, price to earnings ratio, the ratio of cash flow to price and sale growth in both Malaysia and Singapore. Their studied sample is 82 companies listed in the Singapore Stock Exchange and 163 companies listed in the Kuala Lumpur Stock Exchange during the period 1988-1996. Results for Singaporean companies are indicating that there is no significant relationship between the ratio of book value to market value (BTM) and earnings to price ratio (E/P) with stock returns. The results for Malaysian companies show that there is significant and positive relationship between the ratio of earnings to price (E/P) and stock returns. But the relationship between the ratio of book value to market value (BTM) and stock returns is not significant. Kothari and Shanken (1997) has been study on the relationship between the ratio of book value to market value and dividend yield with the expected market return. Results have shown that there is a significant and positive relationship between the ratio of book value to market value (BTM) and the dividend yield with market returns of future year. Also, the results indicate the superiority of book value to market value ratio against dividend yield in explaining future market returns. According to study done by Fama and French (1988), Hodrick (1992) and Stambaugh (1999) have shown that the variables of earnings to price ratio, the ratio of dividends to the price and short-term interest rates can better predict stock returns. As a conclusion, financial theories lay great emphasis on the role of risk in stock returns so the relationship between stock returns and financial ratios is because the ratios captured information about the risk. Therefore, these three financial ratios are supported by financial theoretical basis. Section 3 Data and Methodology Data Collection Methods The data collected are mainly from secondary data. The secondary data that used in this paper are included the closing price, dividend yield, book to market, earning per share and asset size of each plantation company from  year 2008 to 2012. These closing prices will be collected from yahoo finance but for the dividend yield, book to market, earning per share and asset size will be collected from data stream. Target Population The secondary data will be used in this paper to test whether dividend yield, book to market, earning per share and asset size forecast stock return or not. Therefore, the 23 stocks listed on Bursa Malaysia will be obtained. They are included: 1ï ¼Å½ UNITED MALACCA 2ï ¼Å½ NPC RESOURCES 3ï ¼Å½ KWANTAS 4ï ¼Å½ SARAWAK OIL PALMS 5ï ¼Å½ TH PLANTATIONS 6ï ¼Å½ TSH RESOURCES 7ï ¼Å½ CEPATWAWASAN GROU 8ï ¼Å½ CHIN TECK PLANTATIONS 9ï ¼Å½ KIM LOONG RESOURCES 10ï ¼Å½ FAR EAST HOLDINGS 11ï ¼Å½ KLUANG RUBBER 12ï ¼Å½ NEGRI SEMBILAN OIL PALMS 13ï ¼Å½ SUNGEI BAGAN RUBBER 14ï ¼Å½ UNICO-DESA PLANTATIONS 15ï ¼Å½ GOLDEN LAND 16ï ¼Å½ RIVERVIEW RUBBER ESTS. 17ï ¼Å½ UNITED PLANTATIONS 18ï ¼Å½ TRADEWINDS PLANTATION 19ï ¼Å½ MHC PLANTATIONS 20ï ¼Å½ IJM PLANTATIONS 21ï ¼Å½ HAP SENG PLTNS.HDG 22ï ¼Å½ CHIN TECK PLANTATIONS 23ï ¼Å½ GENTING PLANTATIONS Data Analysis The collected data were analyzed by using Microsoft Excel and Eview. Microsoft Excel will be used to calculate the stock returns for each stock for a period of around 5 years which are the year from 2008 to 2012. Besides, pool ordinary least squares regression, descriptive statistic, correlation and Hausman test from Eview will be used to run the result of our research. Dependent variable a. Stock return The total stock return can be gain through the appreciation in the price plus any dividends paid and then divided by the original price of the stock. The dividends can include any of the income sources from a stock. Commonly, it is increase in value. Thus, the first portion of the numerator of the total stock return formula is looks at how much the value has increased (P1 – P0). Then, it needs to remind that the denominator of the formula which is use to calculate a stock’s total return is considered as the original price of the stock which is used due to being the original amount invested. Total stock return calculated as follow: Total stock return = where = Ending stock price (period 1) = Initial stock price D = Dividends Independent variable b. Dividend yield Usually, a financial ratio can be used to show how much a company pays out in dividends each year which is relative to its share price. Therefore, it can be said that the dividend yield is the return on investment for a stock in the absence of any capital gains. Dividend yield is calculated as follows: Dividend yield = Annual dividends per share / Price per share c. Book to market Sometimes, we also use a financial ratio to find the value of a company. It can be found by comparing the book value of a firm to its market value. Book  value can be calculated by looking at the firm’s historical cost or accounting value. On the other hand, market value is determined in the stock market through its market capitalization. Book value is calculated as follows: Book to market = Book value of firm / Market value of firm d. Earnings per share The earnings per share (EPS) can be defined as the portion of a company’s earnings, net of taxes and preferred stock dividends. Usually, all of them are allocated to each share of common stock. EPS is calculated as follows: EPS = Net earnings / Outstanding shares e. Asset size Asset size is defined as the total of the current assets and the non-current assets which is holding by a company. Asset size is calculated as follows: Asset size = total asset Pool OLS regression Stock return = + (dividend yield) + (book to market) + (earning per share) + (asset size) + Pool OLS is to measure whether there is positive or negative relationship between dependent variable (stock return) and independent variable (dividend yield, book to market, earning per share and asset size). R-squared is the total variation dependent Y is explained by the total variation of independent X. F-statistic is to test whether the overall goodness of fit is good or not. The significant level is set at 1%, 5% or 10%. Descriptive Statistic Descriptive statistic is to provide simple summarizes about the sample and the observation that have been made like mean and median. Correlation The correlation is called the correlation coefficient (or â€Å"r†). It ranges from -1.0 to +1.0. If r is close to 0, it means there is no relationship between the variables. If r is positive, it means that as one variable gets larger the other gets larger. If r is negative it means that as one gets larger, the other gets smaller (often called an â€Å"inverse† correlation). Hausman test Hausman test is usually applied to test for fixed versus random effects models. Ho: Cov (ÃŽ »i, xit) = 0 (Random Effect) H1: Cov (ÃŽ »i, xit) ≠  0 (Fixed Effect) If the p-value is lower than 0.01, we reject Ho. This indicated that the fixed effects model is preferred. If p-value greater than 0.01. We do not reject Ho. This means that the random effect is preferred. Random effect model is to utilize in meta-analysis. It is using both study sampling error and variances. The variations between studies are included in the assessment of the uncertainty or confidence interval of the results of a meta-analysis. In addition, random effects model is apply when there is no correlation between the regresses and the individual effects. On the other hand, fixed effect model stipulates the units under analysis such as people in a trial or study in a meta-analysis are the ones of interest. Thus, this model constitutes the entire population of units. The variation between the estimates of effect from each study name as heterogeneity. It does not affect the confidence interval. Besides, this model is applied when there is allow for arbitrary correlation between the regresses and the individual effects. Section 4 Data and Empirical Results Research Findings: Descriptive statistics Variables N Mean Maximum Minimum Standard Deviation Stock Return 115 0.069304 1.170000 -0.600000 0.308345 Dividend yield 115 3.356435 10.31000 0.370000 2.220661 Earnings per share 115 0.345304 1.800000 0.040000 0.300544 Book to market value 115 1.193478 2.950000 0.340000 0.542936 Firm Assets 115 13.64433 15.36144 12.01738 0.816106 From the table above, on average or the mean stock return level for firms is 0.07% with a maximum value of 1.17% from 2008 to 2012. As we can see, average dividend yield for the plantation firms in Malaysia is the highest which mean 3.36% return of plantation firms in Malaysia are generated by dividend yield. Looking for the earnings per share, it shows low earnings  per common share. On average Malaysian plantation firms only make earnings about 0.04% and the highest is 1.8%. This amount of earnings per share is very low compared to the dividend yield. Average book to market value is 1.19% with a maximum value of 2.95%. Firm asset is one of the most important bank specific variables that will affect stock return. Total assets value for Malaysian plantation firms ranges from 12.02% to 15.36%. The range is big and this may due to the sample firms having operated for different lengths of time. Correlation SR DY EPS LSIZE MVB SR 1.000000 DY 0.188256 1.000000 EPS -0.048140 0.084159 1.000000 LSIZE 0.055228 -0.150209 0.239308 1.000000 MVB -0.313238 -0.014558 0.383026 0.509393 1.000000 The stock returns for two variable that is earning per share and market to book value are moving in totally opposite direction linearly. These are because the correlation between stock return and earning per share and also the correlation between stock return and market to book value are negative relationships which are -0.05 and -0.3. On the other hand, the correlation between stock return and total asset and also the correlation between stock return and dividend yield are positively correlated which are 0.05 and 0.19. As a conclusion, based on the result above the dividend yield recorded the strongest correlated to stock return. Pooled Ordinary Least Square Dependent Variable: Stock Return Variables Coefficient Std.Error t-Statistic Probability C -1.424024 0.492529 -2.891247 0.0046 DY 0.031544 0.011973 2.634631 0.0096 EPS 0.044259 0.094578 0.467969 0.6407 LSIZE 0.125167 0.037734 3.317073 0.0012 MVB -0.281240 0.058763 -4.786012 0.0000 R-squared 0.214105 Adjusted R-squared 0.185527 F-statistic 7.491945 Prob(F-statistic) 0.000022 SR= -1.4240 + 0.0315 DY + 0.0443 EPS + 0.1252 LSIZE – 0.2812 MVB where SR = Stock Return DY = Dividend Yield EPS = Earnings Per Share LSIZE =Log Firm Size MVB = Book to Market Value The intercept value of -1.4240 means that if the all independent variable are zero, the stock returns will expected to be -1.4240. the R-squared is 0.2141 means that about 21.4% of the total variation dependent Y is explained by the total variation of independent X. the F-statistic is 0.000022 means that  this regression model is statistically significant at 5% level of significant. Therefore, the overall goodness of fit is good. From this regression, dividend yield and firm size showed positive relationship to stock return as shown by the positive coefficient. Both variables of p-value are significant at 1% of significant level. There is negative relationship between book to market value as shown by negative coefficients and the p-value is significant at 1% of significant level. The relationship between stock return and earning per share is negative and the p-value is not significant at 10% of significant level. Fixed effect model Dependent Variable: Stock return Variable Coefficient Std. Error t-Statistic Probability C -4.296162 2.324473 -1.848231 0.0679 DY 0.040577 0.020388 1.990207 0.0497 EPS -0.153195 0.222027 -0.689983 0.4920 LSIZE 0.361256 0.168448 2.144618 0.0347 MVB -0.542055 0.096166 -5.636630 0.0000 The table shows the dividend yield, earning per share, firm size and book to market value. The dividend yield, size and book to market value were found be significant, the p-value are 0.0497, 0.0347 and 0.0000 respectively which are significant at 5% of significant level. The earnings per share was found not be significant, since p-value is 0.4920 which is greater than 0.05. Thus, dividend yield, size and book to market value were impact on the stock return of Malaysian plantation sector. Random effect model Dependent Variable: Stock return Variable Coefficient Std. Error t-Statistic Probability C -1.424024 0.450854 -3.158502 0.0020 DY 0.031544 0.010960 2.878165 0.0048 EPS 0.044259 0.086575 0.511226 0.6102 LSIZE 0.125167 0.034541 3.623689 0.0004 MVB -0.281240 0.053791 -5.228410 0.0000 The table shows the dividend yield, earning per share, firm size and book to market value. The dividend yield, firm size and book to market value were found be significant, the p-value are 0.0048, 0.0004 and 0.0000 respectively which are significant at 5% of significant level. The earnings per share was found not be significant, since p-value is 0.6102 which is greater than 0.05. Hausman test Test Summary Chi-Sq. Statistic Chi-Sq. d.f. Prob. Cross-section random 35.021193 4 0.0000 Hausman test is used to test hypotheses in terms of bias or inconsistency of an estimator. For this specification test, H0 and H1 are: H0: Cov(ÃŽ » , x ) = 0 H1: Cov(ÃŽ » , x ) ≠  0 The result of Hausman Test illustrated the p-value is 0.0000 which is smaller than 0.01. Therefore, it is statistically significant at 1% of significant level. Therefore, the null hypothesis is rejected and concludes that the fixed effect is preferred. Section 5 Summary and Conclusion The purpose of this study is to investigate the predictive ability of the selected financial ratios on stock return in Malaysia specifically in plantation sector over the period from 2008 to 2012. Among the financial ratios, three commonly used financial ratios are included which is the dividend yield, firm size, earning per share (EPS) and book to market ratio. As a result, this study has provided evidence that financial ratios played a significant role in predicting stock return. In addition, the empirical findings also revealed that dividend yield, book to market ratio and firm size have significant relationship on stock return of Malaysia plantation sector among the financial ratios. However, the research finding indicate that the dividend yield has the strongest forecasting ability on stock return and it is in line with the past studies by Fama and French (1988) who found out that there is a strong predictive power of dividend yield on stock return. In summary, this study might not applicable to other region or other industry. Nevertheless, it has provided better information regarding the forecasting power of financial ratio on stock return. Therefore, effort shall be made to explore for further research in order to improve on previous work. References: Abgineh, M. (2013). The Investigation of the Relation between Changes in Financial Ratios with Changes in Stock Returns on the Tehran Stock Exchange. Journal of Basic and Applied Scientific Research, 3(2), 473-479. Aono, K., & Iwaisako, T. (2010). Forecasting Japanese Stock Returns with Financial Ratios and Other Variables. Asia-Pacific Financial Markets, 18, 373–384. Auret. C.J., & Sinclaire R.A. (2006). Book-to-market ratio and returns on the JSE.Investment Analysts Journal, 19, 31-38. Banze, R. (1981). The relationship between return and market value of common stocks. Journal of Financial Economics , 9, 3-18. Emamgholipour, M., Pouraghajan, A., Yadollahzadeh, T., Haghparast, M., & Shirsavar, A. (2013). The Effects of Performance Evaluation Market Ratios on the Stock Return: Evidence from the Tehran Stock Exchange. International Research Journal of Applied and Basic Sciences, 4 (3), 696-703. Fama, E. F., & French, K. (1988). Dividend yields and expected stock return. Journal of Financial Economics, 22, 3-25. Hodrick, R. (1992). Dividend yields and expected stock returns: alternative procedures for inference and measurement. Review of Financial Studies, 5, 357-386. Hakkio, C. & Rush, M. (1991), Cointegration: how short is the long run?, Journal of International Money and Finance, 10, 571-581. Kheradyar, S., Ibrahim, I., & Mat, N. F. (2011). Stock Return Predictability with Financial Ratios. International Journal of Trade, Economics and Finance, 2 (5), 391-396. Kothari, S. P., & Shanken, J. (1997). Book-to-market, dividend yield, and expected market returns: a time series analysis. Journal of Financial Economics, 44, 169–203. Lau, S.T., Lee, T.C. & McInish, T. H. (2002).Stock Returns and Beta, Firms Size, E/P, CF/P, Book to Market, and Sales Growth: Evidence from Singapore and Malaysia. Journal of Multinational Financial Management, 12, 207-222. Lewellen, J. (2002). Predicting Returns with Financial Ratios. MIT Sloan School of Management. Working Paper 4374-02. Lewellen, J. (2004). Predicting Returns with Financial Ratios. Journal of Financial Economics, 74, 209–235. McManus, P.A. (2011). Introduction to regression models for panel data analysis. Retrieved from http://www.indiana.edu/~wim/docs/10_7_2011_slides.pdf Reinganum, M.R. (1981). Misspecification of Capital Asset Pricing: Empirical Anomalies based on earning yield and market values. Journal of Financial Economics, 9(1), 19-46. SAS Institute Inc. (2013). The model produce. Hausman specification test. Retrieved from http://support.sas.com/documentation/cdl/en/etsug/63348/HTML/default/viewer.htm#etsug_model_sect050.htm. Stambaugh, R. (1999). Predictive regressions. Journal of Financial Economics 54, 375–421. Stattman D. (1980). Book values and stock returns. The Chicago MBA: A Journal of Selected Papers, 4:25-45.

Economics of All You Can Eat Buffets

The notion of paying one set cost for ‘unlimited' quantities of a good or service is certainly appealing, and that appeal is exactly what all-you-can-eat (AYCE) restaurants take advantage of. Gobi Brighton, an all-you-can-eat barbeque restaurant in England, offers unlimited servings of Asian and Middle-eastern foods for one fixed price of 12 pounds. Of course, no customer will actually eat an infinite quantity.Taking this factor into account, and given the various costs the restaurant must pay to deliver the service, this fixed price that consumers pay is determined such that the restaurant will profit in the long-run despite the quantity customers individually eat. Andy and George, however, two middle-aged men who frequently visit this AYCE restaurant, were recently kicked out and banned from Gobi Brighton because, according to the manager of the restaurant, they were â€Å"[eating] the restaurant out of business† (Dartford 2012).While it is certainly possible that busi ness may not be so great for Gobi Brighton these days, whether two customers can be blamed for it or not is another question. This paper will analyze the economic principles of AYCE restaurants and determine if it was possible for Andy and George to have been actually eating Gobi Brighton â€Å"out of business† with their appetite for Asian and Middle-eastern food. Buffets, or AYCE restaurants, can be very profitable because costs paid by the restaurant are much lower compared to those of an a la carte restaurant.Customers are given plates and head to the food counters to get whatever they like instead of ordering from a menu. Consequently, these restaurants have little need for waiters, and thus have less demand for them compared to other restaurants. Furthermore, because food is prepared in large quantities at a time as opposed to being prepared non-stop and on-demand, there is also a lower demand for cooks. On the other hand, buffets require continuous upkeep to ensure foo d safety and presentable aesthetics.Overall though, labour costs for AYCE restaurants are much lower compared to those of other restaurants. Because buffets have reduced production costs, they can afford to charge less to consumers if it means getting more business. Some restaurants use this strategy, but most choose not to because it doesn't lead to profit-maximizing results. Instead, AYCE restaurants take advantage of the law of diminishing marginal utility and how it plays a key role in any customer's ability to consume at a buffet.The manager knows that each additional plate of food provides less utility, or less satisfaction, than the one before. As a result, most people will eat only until the utility derived from an additional serving of food is slightly lower than the utility gained from the first dish. Buffets generate a profit by charging a price which is above the price of the food that the average customer consumes. This strategy assumes that, before the customer consume s a quantity of food where the total cost to the firm is greater than the price of the buffet, their marginal utility will be zero.This expectation was not met in the case of Andy and George. People who go to buffets usually fall into one of two categories of AYCE customers. One group eats regular portions and does one, maybe two trips to the buffet station. These customers are unlikely to eat a value equal to or above the fixed price they paid for the buffet, and thus contribute the most to the accounting profits of AYCE restaurants. The second group of buffet customers consist of over-eaters. They enter a buffet with the intention of getting their value's worth, if not more, of food.These customers are usually familiar buffets and their own capacity for food, and are confident heading into the restaurant because they are certain that they are getting a good deal. These kinds of buffet customers are more likely to consume a quantity of food that is of greater value that of the buff et price. It is here that we find Andy and George, the two over-eaters that were eating Gobi Brighton out of business. After Andy and George paid their 12 pounds, they sat down and each downed five bowls of stir fry before getting kicked out.If the manager was being honest when he said these two customers were putting him out of business, that would mean that those five bowls of stir fry caused the restaurant to go from making accounting profits, where revenue exceeds production cost, to making no profits whatsoever, where revenue equals production cost. Is it possible for ten bowls of stir fry to put this restaurant out of business? One bowl of stir fry these days never costs more than 5 pounds to the producer (Taste 2011).Since Andy and George collectively consumed ten bowls of stir fry, we can assume that up until they were kicked out of the restaurant, the business of the two men cost the restaurant fifty pounds. Beforehand, they each paid 12 pounds for the buffet service, so th e restaurant received 24 pounds as revenue. Consequently, without taking other production costs into account, Gobi Brighton was making a negative accounting profit of 26 pounds. This means that before Andy and George even entered the restaurant, Gobi Brighton was at least 26 pounds away from being unable to sustain its own service.If Gobi Brighton was a perfectly competitive firm in a perfectly competitive industry, then the restaurant has little say in the price because they take whatever price is established by the market equilibrium, and this would explain the poor business (see Figure 1). Raising the price, even by a little, would result in the customers going elsewhere and they would lose all their sales, as shown in point A. Lowering the price to point B, would also be ineffective because they can only sell as much as they can produce, which is a fixed quantity.They would lose even more capital, especially for a buffet service where, theoretically, an infinite quantity of food is being offered. Thus, in a perfectly competitive industry, Gobi Brighton would be forced to continue selling their buffet service at a market price of 12 pounds. Perfect competition could explain how Gobi Brighton was going out of business because of these two men, and thus had to resort to kicking the men out of the restaurant. The fact is, however, that Gobi Brighton is far from being a perfectly competitive firm in a perfectly competitive industry.Buffet prices are not fixed, not all buffets are the same, and buyers and sellers do not have complete information about service. In fact, according to Yelp, Asian and Middle-eastern restaurants are not that common in England, so the restaurant could have raised it's price for a short while, or tried reducing costs by laying off a worker or two since business was clearly not doing so well to begin with (Yelp 2012). Gobi Brighton is an all-you-can-eat restaurant located in Brighton, England that recently kicked out two customers for e ating too much and claimed they were putting the restaurant out of business.Not only does common buffet pricing strategies suggest it is very unlikely that two over-eating customers alone could do this, but Gobi Brighton could have improved business a number of ways since it isn't a perfectly competitive firm. Perhaps instead of marketing itself as an all-you-can-eat restaurant, Gobi Brighton may want to consider switching to an a la carte service, especially if they feel like their business is threatened by the very demographic that buffet restaurants appeal to most.

The Difference between Genders in The Tenant of Wildfell Hall. essays

The Difference between Genders in The Tenant of Wildfell Hall. essays "The Tenant of Wildfell Hall" is the second and final novel written by Anne Bront and published in 1848, the 19th century. Once we, the readers, have read it, we can notice many aspects from that time that differ from our nowadays lifestyle and also with our way to think. The novel clearly illustrates the role and situation of women during the Victorian era. Furthermore, this is going to be the focal point in order to write my paper. The author, who uses the first person singular, changes from Gilbert Markham to Helen Graham. The main part of the novel, where the basis of the plot is revealed, is explained from the woman's point of view. Moreover, it is at these points when we see what life was like for her and how she had to in an illegal way escape from the life she was living, breaking the English laws of that time. Furthermore, to die was the easiest way to escape from all that surrounding Mr Huntingdon's life. In my paper, I would like to explain how the narrator, when it changes into Helen Graham, manages to show the readers the poor, pitiful and wretched life women had to face in that time. Besides, the difference in gender, how men and women did live in that moment and the way she faces her marriage Also, more deeply how Helen Graham's life wholly changed due to her behaviour when violating the rules of society was the only way to survive. The 19th century was one hard period for women. There are many aspects from that time that differ from our current lifestyle. During the Victorian era, the role of women in society was very poor and decadent since they were treated as second class citizens. This means that women who lived in that moment of history did not enjoy the same sense of freedom and could not be compared to men in terms of having rights. "The Tenant of Wildfell Hall" is a book narrated in the first person singular, but there is not just one narrator in the whole novel but two. The narration change...

The eNotes Blog Young Adult Classics The Giver and Tiger Eyes as Major MotionPictures

Young Adult Classics The Giver and Tiger Eyes as Major MotionPictures There is good news for young adults (and parents) who are tired of lifeless, often commercially-oriented films. Two classic novels for young people, Lois Lowrys  The Giver   is in production  and Judy Blumes Tiger Eyes  was released in 2012. Winner of the 1994 Newbery Medal, Lowrys  The Giver  is often required reading in junior high and it is one novel that most students enthusiastically embrace.   Set in the future, Lowrys riveting tale revolves around Jonas and his community.   When Jonas is selected to be the new Receiver of Memories, he discovers that the idealized life his community has created is horrific. Little by little, Jonas becomes increasingly aware that everyone he knows and loves, and everything he has been taught in his engineered, perfect world is evil. For the film version, (the making of which has been rumored for some fifteen years) actor Jeff Bridges will play the lead. Auditions are still underway to fulfill the role of Jonas. You can listen to an interview with Lowry and the upcoming film based on her novel on NPRs  Studio 360  here. (Have you been assigned  The Giver  in school or do you want to learn more? Here at , not only do we have a comprehensive study guide for the work, but also individual quizzes for  each  chapter of the novel!   Test your knowledge before your exam or just for fun!) Another   teen favorite which made its debut on the big screen recently is Judy Blumes classic novel Tiger Eyes. Tiger Eyes is  about   teenager Davey Wexler dealing with her fathers sudden and shocking death. Like all of Blumes work, (which has won over ninety awards) the author treats real world concerns of teenagers with deftness but also includes her trademark humor which keeps even the most sensitive of topics from becoming overbearing.   Tiger Eyes  was released in April 2012. You can listen to an interview with Blume on NPRs  Think with Krys Boyd  here. Want to learn more about  Tiger Eyes?  Check out our study guide and stay tuned for upcoming chapter-by-chapter quizzes for the work! Readers, what other Young Adult novels would  you  like to see given a cinematic treatment?

Democracy in Ancient Athens and Democracy Today

Democracy in Ancient Athens and Democracy Today While wars today are fought in the name of democracy as if democracy were a moral ideal as well as an easily identifiable government style, it is not really that black and white. The inventors of democracy were the Greeks who lived in small city-states called poleis. Contact with the wide world was slower. Life lacked modern conveniences. Voting machines were primitive, at best. The people the ones who put the demo- in democracy were intimately involved in decisions that affected them and would be appalled that bills to be voted on now require reading through thousand-page tomes. They might be even more aghast that people actually vote on those bills without doing the reading. What Do We Call Democracy? The world was stunned when Bush was first named the winner of the U.S. presidential race, even after more U.S. voters had cast ballots for Gore. How could the U.S. call itself a democracy, yet not select its officials on the basis of majority rule? Well, part of the answer is that the U.S. was not established as a pure democracy, but as a republic where voters elect representatives and electors. Whether there has ever been anything close to a pure and total democracy is debatable. There has never been universal suffrage and Im not talking about voters disenfranchised by corruption or improper balloting and tallying. In ancient Athens, you had to be a citizen to vote. That left out more than half the population. Introduction Democracy [demos ~ the people; cracy kratos strength/rule, so democracy rule by the people] is considered an invention of the ancient Athenian Greeks. This page on Greek democracy brings together articles on the stages democracy went through in Greece, as well as the controversy Greek democracy caused, with passages from period thinkers on the institution of democracy and its alternatives.​ Democracy Helped Solve Ancient Greek Problems The ancient Athenian Greeks are credited with inventing the institution of democracy. Their governmental system wasnt designed for the enormous, spread-out, and diverse populations of modern industrialized countries, but even in their small communities [see Social Order of Athens], there were problems, and the problems led to inventive solutions. The following are roughly chronological problems and solutions leading to what we think of as Greek democracy: The Four Tribes of Athens: The ancient tribal kings were too weak financially and the uniform material simplicity of life enforced the idea that all tribesmen had rights. Society was divided into two social classes, the upper of which sat with the king in council for major problems.Conflict Between Farmers and Aristocrats: With the rise of the hoplite, non-equestrian, non-aristocratic army, ordinary citizens of Athens could become valued members of society if they had enough wealth to provide themselves the body armor needed to fight in the phalanx.Draco, the Draconian Law-Giver: The privileged few in Athens had been making all the decisions for long enough. By 621 B.C. the rest of the Athenians were no longer willing to accept arbitrary, oral rules of those who lay down the law and judges. Draco was appointed to write down the laws.Solons Constitution: Solon redefined citizenship so as to create the foundations of democracy. Before Solon, the aristocrats had a monopoly on the govern ment by virtue of their birth. Solon replaced the hereditary aristocracy with one based on wealth.city,coast, andinland. Cleisthenes and the 10 Tribes of Athens: When Cleisthenes became a chief magistrate, he had to face the problems Solon had created 50 years earlier through his compromising democratic reforms foremost among which was the allegiance of citizens to their clans. In order to break such loyalties, Cleisthenes divided the 140-200 demes (natural divisions of Attica and the basis of the word democracy) into 3 regions: Cleisthenes is credited with instituting moderate democracy. The Challenge - Is Democracy an Efficient System of Government? In ancient Athens, the birthplace of democracy, not only were children denied the vote (an exception we still consider acceptable), but so were women, foreigners, and slaves. People of power or influence werent concerned with the rights of such non-citizens. What mattered was whether or not the unusual system was any good. Was it working for itself or for the community? Would it be better to have an intelligent, virtuous, benevolent ruling class or a society dominated by a mob seeking material comfort for itself? In contrast with the law-based democracy of the Athenians, monarchy/tyranny (rule by one) and aristocracy/oligarchy (rule by the few) were practiced by neighboring Hellenes and Persians. All eyes turned to the Athenian experiment, and few liked what they saw. Beneficiaries of Democracy Endorse It On the following pages, youll find passages on democracy from some of the philosophers, orators, and historians of the time, many neutral to unfavorable. Then as now, whoever benefits from a given system tends to support it. One of the most positive positions Thucydides puts into the mouth of a leading beneficiary of the Athenian democratic system, Pericles.

Confidentiality and Anonymous Sources Assignment

Confidentiality and Anonymous Sources - Assignment Example Many feel that the journalist crosses the line of credibility when they extend this confidentiality to the identity of the story’s source. They suggest that reporters use anonymous sources as a shortcut. It’s easier than using investigative techniques such as uncovering documented evidence and speaking to a larger number of people than solving an intricate but credible puzzle.  A journalist that wants their story to be believed uses at least two named sources in a story. Using just one source that is unknown to the reader, and sometimes the reporter, for the sake of sensationalism and competition is, unfortunately, becoming a common practice. Others, including responsible journalists, firmly believe that the use of confidential or anonymous sources by journalists is essential in providing the public with vital information. This is because certain potential sources in sensitive government or business positions would not be willing to offer information without the assur ance that their identity remains confidential. Many journalists view their job as a duty to inform the public regarding unscrupulous dealings by those who wield power over the public. Those that advocate free speeches argue that if the media employs the use of anonymous sources conscientiously in a genuine effort to generate credible stories, the significance of the information outweighs any apprehensions regarding the origination of those sources. Both lines of reasoning are valid yet each must admit the other’s weaknesses

Eu law Essay Example | Topics and Well Written Essays - 1000 words

Eu law - Essay Example These rights include the right of residence and to remain, as long as this does not prove to be a financial burden for the host Member State. As a result, Member States can limit the free movement of workers, due to public policy limitations. Some of these limitations are grounds of public health and public security. All the same, procedural requirements have to be complied with, during the imposition of such restrictions.2 In the Bidar case,3 the European Court of Justice (ECJ) ruled that Bidar who had been resident in the UK, during the pursuit of his secondary education had established adequate relationship with the society of the host Member State. This relationship was held to be sufficient for rendering Bidar eligible for a maintenance grant from the UK.4 Similarly, in our problem, Marie had competed two years of her International Baccalaureate and had thereafter applied for the LLB. Marie will be eligible for a maintenance grant from the UK. This is due to the fact that she had been residing in the UK for sufficient time, during her pursuit of the International Baccalaureate studies, to establish sufficient link with the UK. As a national of the EU, an individual is entitled to seek employment in another Member State of the EU. In addition, such individuals are entitled to the same assistance from national employment offices as the host Member State’s nationals. Moreover, such individuals can stay in the host Member State for the time required to seek work, apply for employment and be recruited. No seekers of jobs can be expelled, if they establish that they are continuing to seek employment and have reasonable opportunity to obtain a job. 5 In our problem, Raimon is seeking a job in the UK. The EU principle of free movement of workers permits any national of a Member State of the EU to seek employment in any other Member State of the EU. Thus, Raimon, despite being a Spaniard can seek employment

Dostoevsky crime and punishment Essay Example | Topics and Well Written Essays - 2250 words

Dostoevsky crime and punishment - Essay Example The wise saying goes—howsoever powerful may be the waves of an ocean their real nature is mere water! Once the crime is committed, a series of thought-currents related to the incidents begin to tax the brains of the perpetrator of the crime. They challenge his decision. In the introduction to the book it is observed, â€Å"†¦.it is precisely from such an attempt to grapple with the moral implications of the social and cultural realities of the day that Dostoevsky produced a work whose timeliness increases rather than diminishes with the years.†(Introduction vi†¦) All murders are not calculated. Most of them are done at the time when one is seized with spontaneous anger and loses the mental equilibrium. As a consequence, the murderer has a life-time to regret. Even after undergoing the legal punishment for the heinous act committed, the trace of that action remains within the portal of the mind. For every murder, it is possible to detail the negative and positive consequences. The consequences of murdering a known criminal, the doer of many dastardly acts, can not be compared to the murder a Professor by a student, who failed him in the paper. Utilitarianism intervenes in such cases and makes an attempt to differentiate between right and wrong by measuring a decision based on its calculated worth. Having murdered the landlady, Raskolnikov tries to reason out the positive benefits that her money would do to the society. But this is just wishful thinking. Murder is a murder and the one who does not have the capacity to give life, has no right t o stifle out any life. The one who understands the concept of utilitarianism in its true spirit, would find it difficult to accept and will resent the claim of Raskolnikov that his action of murdering the old woman can be accepted as morally right. A performer of the action can not be the judge of the merits/demerits of that action. One can’t be the lawyer and the judge for the

User generated content Dissertation Example | Topics and Well Written Essays - 2750 words

User generated content - Dissertation Example After going through the different phases of research that we have been doing during the course of our research work assessing the impact of user generated content can have upon the development and prosperity of the hospitality industry and tourism sector of Dominican Republic, we have entered the conclusive phases of our discussion in which we will subsequently be dealing and highlighting ways through the application of which the tourism as well as the affiliated and symbiotically related hospitality segment and sector of the country can also undergo progress.We will primarily be dealing with the recommendations through the help, application and implementation of which these objectives can be achieved. In addition to this we will also incorporate the conclusive phase of our discussion in this very segment of our research. However before we move towards the proposed recommendations that we can possibly make regarding the tourism sector of Dominican Republic it is also very important a nd essential for us to once again have a thorough look to the different dynamics of this sector and at the same time also realize the necessity and need which is important for the development of this sector for this particular country. In this context it is first and foremost important to understand the multitude effects that the sector of tourism has played in maintaining the smoothness and consistency of the economic engine of the country. For the fulfillment of this purpose it is also important to understand such facts with the help of graphical representation which will concurrently provide us with an overview of the contemporary state of tourism in Dominican Republic and the ways in which it can progress in years to come. Graph 1 can be seen at the end of this document The graph that has been provided above shows the change in trends that have taken over more than a decade in different Caribbean countries. Even though different countries with their specific estimates have not b een mentioned in the graph itself, however it is worth mentioning here that the revenue generated by the tourism sector of Dominican Republic constitutes over 20% of the total GDP of the country. With this percentage Dominican Republic occupies fourth position in the entire Caribbean region among other countries that have a large chunk of their GDP attributed and obtained by means of the tourism services that they are able to provide to visitors coming to these places. With the help of the graph and the overview that has been provided it is comprehensibly demonstrated that the tourism sector of Dominican Republic has pivotal importance as far as the conduction of development and progress projects in the country are concerned as it is one of the key sources through the help of which foreign direct investment can easily influx the country. However despite of the fact that the tourism sector can play an effective role in the economic development of the country the country still lags be hind in terms of the revenue that it generates as compared to other countries such as Barbados, Bahamas and Dominica. (Harvey, 2006) It is important that the factors that contribute in the halting of the progress of this industry are also carefully assessed. In addition to this it is also important to mention that the tourism industry of Dominican Republic has a cumulative assortment of over $4 billion annually and along with this the sector has also proved to be the safest and most secure employment ground for the people of the country who are either directly or indirectly related to the industry. Some of the most fundamental problems that the country encounters in the progress of its tourism sector are the lack of proper infrastructure that it needs to integrate to actually provide quality and lavish lifestyle to people who come to this place. (Pariser, 1994) Even though with the passage of time many new hotels and resorts have been built keeping in mind

Child Labour Essay Example | Topics and Well Written Essays - 1750 words

Child Labour - Essay Example the action is beneficial to everyone, the egoism theory states that morally right actions are those whose outcome maximises benefits to the person performing them. And finally the Altruism theory states that an action is considered morally right if the outcome of the action is favourable to every person except the person performing the action.4 According to utilitarian theory child labour is morally wrong in that it does not beneficial to everyone, the children suffer and in some cases they are not paid, further these children should be attending school or performing school related duties other than working, there is a need to educate and train these children in order to prepare them for the job market and employing them before they complete their education will mean that this is violating their rights. An example is the India gap kid clothing company where according to the UK reporters there was beating of children in the industry and further children were not paid for their work, child labour, the employers take advantage that children punishment is allowed in many countries and because children are not aware of their rights they are forced to undertake hard work.5 Employers prefer to employ children because they provide cheap labour and also they are easy to control, children are also seen to be more obedient than adults, they therefore employ the children for the purpose of cutting down costs and also because the children are easy to control than the adults because adults are related with initiatives which include protests and formation of trade union. The employers benefit in this case and this is in line with the Altruism theory states that an action is considered morally right if the outcome of the action is favourable to every person except the person... This paper stresses that employers prefer to employ children because they provide cheap labour and also they are easy to control, children are also seen to be more obedient than adults, they therefore employ the children for the purpose of cutting down costs and also because the children are easy to control than the adults because adults are related with initiatives which include protests and formation of trade union. The employers benefit in this case and this is in line with the Altruism theory states that an action is considered morally right if the outcome of the action is favourable to every person except the person performing the action. This report makes a conclusion that the theories of normative ethics do not support child labour, for this reason therefore there should be an increased effort to ban child labour in the whole world because it is not morally right, in most cases children are not paid for their work and are disciplined for not working hard, the employers know that they can pay less for employing children and also that children are obedient than adults and for this reason they will employ children, the employers therefore avoid trade unions and protests from workers in case they exploit their workers, for this reason therefore no child should be allowed to work and this will stop exploitation of children worldwide. In developing countries where children work to support their families the government should come up with policy measures to improve employment and standards of living, this will result into a reduction of child labour in most countries and a healthy working labour force will be evident in fu ture.