Corporate Cash holding Essay Example | Topics and Well Written Essays - 1500 words

Corporate Cash holding - Essay Example The suitability of a new model must be determined before carrying out any tests owing to the complex nature of the measurements involved. The correlations will need to be carried out between loss dummy and dividend payouts as well as between loss dummy and firm size and positive relationships will need to be determined (see Appendix 4 for reference). This means that large firms are more likely to be without loss while also managing to pay dividends, an observation consistent with the results obtained by most researchers and providing evidence that the loss dummy variable can function as a proxy for financial restraints. In line with the other various researchers, we found out that firms which incur a loss, most of the times hold more cash than financially stable firms. Further examination into the correlation between loss dummy, the investment opportunity and cash flow volatility, we were able to found out that a negative correlation exists between loss dummy and the investment opportunity as well as a negative correlation between loss dummy and cash flow volatility. From this examination we can assume that financial constraints (loss dummy=0) have a positive relationship with cash flow volatility investment opportunity set (see Appendix 5). Financial constrained firms should hold some cash so that they are able to invest in investment projects which are profitable. The estimate models show us that cash flow volatility does in fact affect a firm’s cash holdings. Cash volatility differs from industry to industry and in order to depict this, we add a dummy variable, industry, into our model so as to determine the differences in cash holdings in each industry. The variable for industry, I, shall be used in out sample meaning that for the 32 industries listed in the London Stock Exchange, we would need to create 21(k-1) dummy variables. According to the results of the test, we can see that not all dummy variables are of significance. The ones that

Defining Historiography Essay Example for Free

Defining Historiography Essay

The Second Sex by Simone De Beauvoir Essay -- gender differences, 2015

Feminism is the radical notion that women are people. It is the movement for the political, social, and educational equality of women with men. It has its roots in the humanism of the 18th century and the Industrial Revolution. Feminist issues range from access to employment, education, child care, contraception, and abortion, to equality in the workplace, changing family roles, damages for sexual harassment in the workplace, and the need for equal political representation. Some may think that in 2015 we may be completing the first step for women, which has been a long journey, the acceptance of women as people. However, women, like so many other groups, have gained legal rights only to face less institutional, but more subtle forms of discriminations. The idea that women are equal because of women’s rights is in my opinion valid in some ways and invalid in other ways. Traditionally, women have been regarded as inferior to men physically and intellectually. Women could not possess property in their own names, participate in business ventures, or control having children if they wanted them or not or even control of their own lives. The Feminist movement dates from 1848, when Elizabeth Cady Stanton, Lucretia Coffin Mott and others who were at a women’s convention at Seneca Falls, N.Y. issued declaration of independence for women, demanding full legal equality, full educational and commercial opportunity, equal compensation, the right to get paid and the right to vote. In this essay I will discuss The Second Sex by Simone De Beauvoir and her feminist views. I will discuss the gender differences between males and females today as well as in the past. Simone De Beauvoir was born in Paris. She had a younger sister and they lived in middle-class family. She went to a conservative Catholic prep school for girls. She had several licenses, which are equivalent to master’s degrees today, in literature, philosophy and mathematics. While in School she met Sartre a philosopher most closely associated with existentialism. She was one of the first women to pass the rigorous aggregation in philosophy. She taught in Marseiles, Rouen, and Paris from 1931 to 1943, but her contract ended because she was accused of sleeping with a student. After that she began a monthly magazine with Sarte that discussed politics and literature. Simone De Beauvoir’... ... care of the home and their husbands didn’t have a man of her own. Now I don’t know the exact significance of this, but my take on it is that the movie was trying to show that no matter what you do as a woman you can’t make a man stay just because you do what is â€Å"expected†. Overall, feminism aims to have women treat equally as men in all aspects of life. We as women have come a long way since the early 1900s, but really how far have we come? There are still very few women in high positions as me, there still has never been a woman president, and in some cases men are earning higher wages than men even if they hold the same position. However, women have shown that we can do whatever a man can do and we can do it just as good as a man. We no longer have to even consider accepting the fact that we have our â€Å"place† and be seen as the â€Å"object†. Moreover, I think that it is the responsibility of the woman to make sure that she is respected and that she is given the same rights as the man. Also men need to be more aware of the situation that’s occurring. Works cited: The Norton Anthology Theory and Criticism p.1403-1414 www.lib.usc.edu/~retter/1st2.html

“The Lottery” by Shirley Jackson and “The Most Dangerous Game” by Richard Connell

In both â€Å"The Lottery† by Shirley Jackson and â€Å"The Most Dangerous Game† by Richard Connell, the authors write to emphasize the sanctity of life through the conflicts endured by their main characters both implicitly and explicitly. Both stories deal with the topic of the taking of human life.â€Å"The Lottery† implicitly delves into the thought processes and ritual of a society where the taking of a life is ceremonial. However, the reader is left to wonder the purpose of this seemingly ageless tradition. â€Å"The Most Dangerous Game† on the other hand, is much more sinister in nature.Human life is also taken in a systematic way, with rules that must be followed, but also a chance that the target may earn his freedom. In this explicit way, the reader fully comprehends the evil surrounding the Game and is confounded by killing as a means of entertainment.What first struck me as I read both stories was the similarity in the development of the charact ers. Both stories had an executioner and a victim that were seemingly interchangeable. In â€Å"The Lottery,† Mr. Summers was the presider of the ceremony and he fulfilled his duties with an aloofness that gave the reader a false sense of security throughout the story.The crowd encircled him. He knew one would die; in fact he himself was not exempt. Yet, he wistfully remembered a time when the Lottery had more pomp and pageantry. General Zaroff in, â€Å"The Most Dangerous Game† also felt a longing for a time when the Game was more exciting.He had a crowd of contestants in his training area that he scorned for lack of skill and wisdom. Mr. Summers and the crowd felt the same way about Mrs. Hutchinson, who was so lackadaisical about the Lottery that she was late.In a matter of life and death for her family her excuse for being tardy was a sink full of dirty dishes. In â€Å"The Most Dangerous Game† Rainsford is also quite flippant about his situation and about ta king lives as he brags to his associate about his hunting exploits.Rainsford dismisses the fear he is surrounded with upon the mention of dangerous waters. In this way, both authors exhibit their theme of the importance of the sanctity of life in the reactions of both victims, Mrs. Hutchinson and Rainsford when they realize that their lives are the ones in peril unexpectedly.When Rainsford finds himself washed up on what the other sailors called â€Å"ship trap island† the reader hears gun shots and the author creates a further sense of foreboding as he introduces Rainsford to General Zaroff. No detail is left unnoticed by the reader as the butler Ivan opens the door and Rainsford is met at gunpoint.At first Rainsford is impressed and flattered by the General who recognizes the expert hunter. Soon, however, the finery of Zaroff’s compound is negated by the savagery of the Game he describes and nonchalantly intends for Rainsford to approve of and participate.Conversely, the warm springtime setting of â€Å"The Lottery† is misleading. In modern society a lottery is a much sought after prize. People choose to play and pray to be selected for vast sums of money.However, in this story there is an undercurrent of caution and masked fear in the crowd as they take their turn to draw slips of paper. â€Å"The Most Dangerous Game† is much more of a thrill ride for the reader as we hide with Rainsford in the tree as he is purposefully hunted in the Game.We cheer for him as he eludes General Zaroff and changes his mind about hunting as a sport. Ironically, Rainsford can now empathize with his quarry after becoming the hunted himself. The same cannot be said of â€Å"The Lottery. †Mrs. Hutchinson’s change in demeanor is heart breaking. With her outbursts and contention that the Lottery had been run unfairly, the reader realizes that her life is soon coming to an end. The irony of her situation is that she claims to have forgotten a ll about the Lottery earlier that morning.Now  she fights to challenge its outcome and the reader is left to wonder why people of this town die at the hands of the Lottery in the first place. Though their style of writing is completely different, in both â€Å"The Lottery† by Shirley Jackson and â€Å"The Most Dangerous Game† by Richard Connell, the authors engage their readers into battling along with their main characters for their very lives. We challenge the seemingly pointless rituals of the Game and Lottery. Inevitably we agree with the authors that lives are not to be toyed with by an unfeeling society.

The Positive and Negative Impacts of Sports Development in Malaysia and How It Boosts the Country’s Tourism Industry

The Positive and Negative Impacts of Sports Development in Malaysia and How It Boosts the Country’s Tourism Industry. Events Tourism is essentially an event that is staged by the destination to appeal and benefit from visitors, domestic and international. The event is the visitor’s primary purpose or motive for visiting, with the destination receiving either positive or negative impacts as a consequence of hosting it (McCartney, 2011). There are no doubt many events in Malaysia that enhance the interest of visitors are mostly done using sports. Hence, there are certain positive impacts of sports development in Malaysia. Despite the many positive impacts there is as a form of tourist attraction, it is disappointing that sports development in Malaysia has not been given much attention to as there are those who say many negatives impacts that may arise. Sport events generates diverse and heterogeneous flows of travelers that may include fans, athletes, coaches, media, team personnel, parents and family members (Gratton, Shibli & Coleman, 2004). The fact that sports events in Malaysia attract tourists is well established. Prominent examples are the Formula One Grand Prix, South East Asian Games, Thomas Cup Badminton Finals and the Commonwealth Games. Malaysia has never hosted the Olympic Games but will someday embrace the day when they do. The founder of the Olympic Games was none other than Pierre de Coubertin. He cited that, â€Å"competition produces harmony between competitors and the organizations or nations they represent’’. It was his believe that sport brings people and nation together. First of all, tourists travel away from home just to search for satisfying leisure activities. Not many might be interested in sports but rather somehow tourists are diverse and may participate in recreational sports event such as mountain climbing or white water rafting. These activities are also sports and they should be developed further despite being a recreational sport. For example, mountain climbing and white water rafting are 2 very famous sports in Australia and if tourists from Australia would come down to our country and wanting to do these activities, they would be disappointed. Although Malaysia has those 2 activities here and there but they are not taken very seriously. Thus, changing the diversity of the tourists where they would be forced to participate in sports that are more familiar in our country. Malaysia hosted the Commonwealth Games in 1998 and that has actually made a huge impact on the country’s tourism industry. How so? This is because there were participations from all the countries around the world to all compete in the Commonwealth Games. In that process, these foreign athletes are indirectly tourists as well. They are brought into our country to try our food, enjoy the weather, and experience the diversity of culture, also at the same time participating in the games. During their stay in our country, they will get to realize how beautiful our country is. In the long run, when the athletes are done with the games, they tend to tell the others from their countries what Malaysia is all about. The power of word of mouth will eventually start attracting more and more tourists to come in and visit. Hence the country’s tourism industry will be boosted and all it takes is by hosting a prominent event such as the Commonwealth Games in Malaysia. Malaysian’s sports developers can continue having international tournament for every possible sporting event there is to continue influencing foreign athletes and thus increasing the amount of tourists to come. However, Malaysian tourism industry must also meet the requirements of the tourists that will plan to visit. Much similar to the previous point, Malaysian sports developers can send local athletes out to foreign countries to also influence and spreading the wonders of our country. Thus, also another way of increasing the amount of tourists that hopefully will visit Malaysia. There is also a downside of sports development in Malaysia. Everybody knows that if the sports developers would to invest their funds wrongly, many things can go wrong. First of all, this would give a bad impression of our sport development among the foreign countries and would result in the decrease in the amount of tourists wanting to visit Malaysia. Next, foreign athletes or coaches will not be interested to come in as well. Even if a large sum of money would be involved, these foreign athletes are better of knowing that staying in a country where the sport development is depriving will just be a waste of their time. However, if the sports developers would want to invest their funds on a certain sport, they would have to try to enhance the athletes to get good performances and directly sending a message to other countries telling them how dominant we are in sports. If those foreign athletes knew how dominant we are in sports, most of them would want to come over to our country to train. Again that would be a golden opportunity for more tourists to come in. Foreign athletes that come over to train usually stay for months. So, they will be familiar with the culture of our country and also spread it among themselves when they get back to their country. Hence, they would want to know more about our country as they have only heard but not experience the lifestyle in Malaysia. However, it is a risk that the Malaysian sports developers have to take as they cannot predict how the Malaysian athletes will perform, but there are measures that can be taken to improve them. Once they are confident that the particular sport can bring glory to the country then they are able to invest their funds into them. By doing so, hopefully more and more foreign countries will recognize the potential in the Malaysian athletes and decides to come in and ‘blend’ with us Malaysians. However, some have that mentality stating it is because of the foreign coaches that are so called ‘betraying’ their country into coaching Malaysian athletes to glory. They need to be reminded that Malaysia will always welcome foreign coaches or athletes to come over and not to bring them in using external factors like money. It is clearly their preference and decision for them to come and visit Malaysia. Finally, it can be drawn from the points above that the Malaysian sport development is able to boosts the country’s tourism industry despite having negative impacts. It is essential to realize that there is a solution for those negative impacts which are yet to come. A study of what motivates tourist behavior must also take into account in relation to a variety of sport tourist profiles. Some chooses challenging sports, other prefers small amateur sporting event. They need to realize that the reason for an amateur event is for tourists to enjoy the leisure not to pressure or interrupt their free time. On the other hand, the focus is on performance in terms of skills when it comes to those who choose the more challenging sport. Nevertheless, the Malaysian sports developers will need to brainstorm on ways to offer different types of sport to associate with the preference of tourists who will be sitting our country. It is concluded that impacts on sports developments can boost the country’s tourism industry in many ways and in our country, they will keep finding alternatives to also improve the sports development to make Malaysia a powerhouse in years to come. From this conclusion, it’s interesting to know what really drives people to be sports tourists and more specifically what drives them to be a spectator of a sport event (Hendrik-Jan Ottevanger, 2007).