Free Essays on Bank Merger

Theoretical This paper talks about the bank merger between Memphis based National Bank of Commerce (National Commerce Financial-Holding Company) and Sun Trust Bank (Sun Trust, Inc. â€Holding Company). This paper doesn't try to introduce proof in help or against the merger. It only supplies a survey of every foundation and an informed forecast of coming about element. This paper depends on data generally picked up from showcasing as well as writing from every point of view bank’s site, pamphlets or different deals mediums as opposed to information approved by a free outsider. Generally, we stress that while economy of scale gives the budgetary security important to the elements to contend in today’s monetary markets in the US and all inclusive, there stays a requirement for Memphis-based â€Å"community champions† which are legitimately centered around serving the necessities of nearby purchasers. Presentation Some examination today recommends that one the reasons for the Great Depression in the U.S. was bank over rivalry. This was settled to a limited extent through the death of the Glass-Steagall Act, which constrained budgetary firms to pick among discount and retail banking additionally called Money Centers, and the 1928 McFadden Act which precluded interstate banking. In spite of the fact that this prohibitive condition was intended to reduce rivalry, it brought about the developing enthusiasm of bank mergers among enormous banks. This happened when the Money-focus banks started moving concentration from buyers to huge stores. This pattern developed so common that cash place banks began battling with the Federal Reserve during the 1960s over their capacity to get to bought assets through the recently made store instruments, for example, debatable CDs. The battle finished with the huge banks increasing unrestricted access to huge stores, both in the US and Europe. The opposition brought about a purchasers advertise where high loan costs were forcefully advertised. High loan fees... Free Essays on Bank Merger Free Essays on Bank Merger Conceptual This paper talks about the bank merger between Memphis based National Bank of Commerce (National Commerce Financial-Holding Company) and Sun Trust Bank (Sun Trust, Inc. â€Holding Company). This paper doesn't look to introduce proof in help or against the merger. It just supplies a survey of every establishment and an informed expectation of coming about element. This paper depends on data generally picked up from advertising and additionally writing from every viewpoint bank’s site, pamphlets or different deals mediums instead of information approved by a free outsider. Generally speaking, we stress that while economy of scale gives the money related dependability important to the elements to contend in today’s monetary markets in the US and all around, there stays a requirement for Memphis-based â€Å"community champions† which are straightforwardly centered around serving the necessities of nearby buyers. Presentation Some investigation today proposes that one the reasons for the Great Depression in the U.S. was bank over rivalry. This was explained partially through the death of the Glass-Steagall Act, which constrained monetary firms to pick among discount and retail banking additionally called Money Centers, and the 1928 McFadden Act which disallowed interstate banking. Despite the fact that this prohibitive condition was intended to decrease rivalry, it brought about the developing enthusiasm of bank mergers among huge banks. This happened when the Money-focus banks started moving concentration from customers to enormous stores. This pattern developed so pervasive that cash community banks began battling with the Federal Reserve during the 1960s over their capacity to get to bought assets through the recently made store instruments, for example, debatable CDs. The battle finished with the huge banks increasing unobstructed access to huge stores, both in the US and Europe. The opposition brought about a purchasers advertise where high loan fees were forcefully advertised. High financing costs...

The Role of Theory in Social Research Essay Example For Students

The Role of Theory in Social Research Essay The job of hypothesis in social research is that without a sociological hypothesis, nothing can be sociological. Realities disengaged from hypothesis are simply realities. Hypothesis causes the realities to talk; the realities don’t and can't represent themselves. Without an association with different realities, we can't evaluate anything. With hypothesis, you can relate realities to one another. Hypothesis is the group of interrelated intelligent ideas or universals that interface with experimental realities and wonders. Experimental research is alright as long as there is hypothesis engaged with it. Hypothesis causes us select which realities are significant and which are definitely not. Hypothesis likewise permits us to arrange the realities. Hypothesis causes us make a story and tell which the ward is and which the free factor is. Hypothesis guides us toward what we don’t know, which is the purpose of all the examination in human science. We will compose a custom paper on The Role of Theory in Social Research explicitly for you for just $16.38 $13.9/page Request now Hypothesis likewise permits various ideas of human science to converse with one another, and that permits human science to advance. Emile Durkheim had expressed in â€Å"What is a Social Fact?† that reason creates hypotheses and, and perception backs them up. As per Durkheim, social realities are not thoughts, they are realities and they are recognizable. Realities without a specific hypothesis backing them are and will be futile. We had discussed this in the absolute starting point of the semester about how expressing certain insights, for example, ‘men make .75 pennies more than women’ may be valid, yet simply expressing that won't be sufficient. In human science, what should be done are the purposes behind expressing that reality, and what it implies for the general public all in all. Along these lines, realities can't remain solitary without hypothesis since they complete each other as it were. Talcott Parsons gives an alternate model concerning this; â€Å"Few if any empiricists are content with discre. .heories. Since Durkheim came path before Parsons and kicked the bucket when Parsons was fundamentally an adolescent, it is chiefly Parsons that based on crafted by Durkheim, as brought up in the above sections through his different speculations, anyway his hypotheses and Durkheim’s are a lot of interrelated and can possibly interface in light of the fact that both of these scholars were occupied with making sense of social request, and however their answers were not actually the equivalent, Durkheim’s division of work and social realities and Parsons unit of act and social frameworks are a lot of relatable a s has been clarified previously. Works CitedDurkheim, Emile. (1984). Mechanical and Organic Solidarity. NY: Free Press.Durkheim, Emile. The Rules of Sociological Method. NY: Free Press, 1982.Lecture Notes.Parsons, Talcott. (1938). The Role of Theory in Social Research. American Sociological Review. 3(1), 13-20.

Frog and the Nightingale Essay Example for Free

Frog and the Nightingale Essay The book is generally viewed as a great in India since its first distribution in 1946, and gives a wide perspective on Indian history, theory and culture, as saw from the eyes of a liberal Indian battling for the freedom of his nation. In The Discovery of India, Nehru contended that India was a memorable country with a privilege to sway. (Calhoun, Craig, Nations Matter: Culture, History and the Cosmopolitan Dream, Routledge. In this book, Pandit Jawaharlal Nehru attempts to consider the historical backdrop of India beginning from the Indus Valley Civilization, and afterward covers the countrys history from the appearance of the Aryans to government under the British Empire. He says that India in the past was nation which lived in agreement and harmony, however the section of society wrongs had an exceptionally terrible impact on individuals. The impact of these different individuals on Indian culture and their fuse into Indian culture is analyzed. This book additionally examinations inside and out the way of thinking of Indian life. This book was committed to the Prisoners of Ahmednagar prison. The book turned into the premise of the 53-scene Indian TV arrangement Bharat Ki Khoj, first communicate in 1988. Prelude OF THE BOOK BY JAWAHARLAL NEHRU:- This book was composed by Jawaharlal Nehru in Ahmadnagar Fort jail during the five months, April to September 1944. A portion of his partners in jail were sufficient to peruse the original copy and make various significant proposals. On reexamining the book in jail he exploited these proposals and made a few increases. Nobody, he need barely include, is liable for what he has composed or fundamentally concurs with it. In any case, he offers my profound thanks to his individual detainees in Ahmadnagar Fort for the endless talks and conversations they had, which helped him extraordinarily to free his own psyche about different viewpoints from Indian history and culture. Jail is certainly not a charming spot to live in any event, for a brief period, substantially less for long years. In any case, it was a benefit for me to live in close contact with men of exceptional capacity and culture and a wide human standpoint which even the interests existing apart from everything else didn't dark. His eleven colleagues in Ahmadnagar Fort were an intriguing cross-area of India and spoke to in their few different ways governmental issues as well as Indian grant, old and new, and different parts of present-day India. About all the chief living Indian dialects, just as the traditional dialects which have intensely impacted India in the over a significant time span, were spoken to and the standard was regularly that of high grant. Among the traditional dialects were Sanskrit and Pali, Arabic and Persian; the cutting edge dialects were Hindi, Urdu, Bengali, Gujarati, Marathi, Telugu, Sindhi and Oriya. Jawaharlal Nehru had this riches to draw upon and the main confinement was his own ability to benefit by it. Despite the fact that he was appreciative to every one of his sidekicks, he extraordinarily referenced a couple names;Maulana Abul Kalam Azad, whose huge intellect constantly charmed me yet some of the time likewise rather overpowered me, Govind Ballabh Pant, Narendra Deva and M. Asaf Ali. The book stays as written in jail without any increases or changes, aside from the postscript toward the end. He doesnt realize how different writers feel about their works, yet consistently he had an abnormal sensation when he read something that he had thought of some time beforehand. That sensation is uplifted when the composing had been done in the nearby and strange climate of jail and the resulting perusing has occurred outside. He could remember it obviously, however not entirely; it appears to be nearly that he was perusing some recognizable piece composed by another, who was close to him but then who was extraordinary. Maybe that is the proportion of the change that had occurred in Jawaharlal Nehru So he has felt about this book too. It is his and not entirely his, as he is comprised today; it speaks to fairly some past self of his which has just joined that long progression of different selves that existed for some time and blurred away, abandoning just a memory . Life in the Jail During his stay in the prison as a detainee, he discussed the remnants that were there however were concealed by soil or have crumpled. He discusses a gutsy, excellent woman, named Chandbibi, who battled against akbar to secure the fort(where he was remaining as detainee). Be that as it may, toward the end she was executed by her own military man. He asks himself that what is his hereditary blessing? he finds that, India is his tribal blessing. It is in his blood. he is the ancesteor of triumphs and thrashings of the past lords, daring works of human from the soonest past to now. He is the beneficiary of all these. A couple of his sections which tell about Jawaharlal Nehru’s life in jail and the different changes in India Time in Prison : The Urge to Action Time appears to change its temperament in jail. The present barely exists, for there is a nonappearance of feeling and sensation which may isolate it from the dead past. Indeed, even updates on the dynamic, living and kicking the bucket world outside has a specific dream-like un-reality, an idleness and an unchangeableness as of the past. The external target time stops to be, the internal and abstract sense remains, yet at a lower level, with the exception of when thought hauls it out of the present and encounters a sort of reality before or later on. We live, as Auguste Comte stated, dead mens lives, encased in our pasts, yet this is particularly so in jail where we attempt to discover some food for our starved and secured up feelings memory of the past or likes of things to come. There is a quietness and everlastingness about the past; it changes not and has a dash of time everlasting, similar to a painted picture or a sculpture in bronze or marble. Unaffected by the tempests and changes of the present, it keeps up its pride and rest and entices the pained soul and the tormented brain to look for cover in its vaulted tombs. There is harmony there and security, and one may even detect a profound quality. In any case, it isn't life, except if we can locate the indispensable connections among it and the present with every one of its contentions and issues. It is a sort of workmanship for expressions purpose, without the energy and the inclination to activity which are the very stuff of life. Without that energy and inclination, there is a continuous overflowing out of expectation and imperativeness, a settling down on lower levels of presence, a moderate converging into non-presence. We become detainees of the past and some piece of its stability sticks to us. This section of the psyche is all the simpler in jail where activity is denied and we become captives to the daily schedule of prison life. However the past is ever with us and all that we are and that we have originates from the past. We are its items and we live im-mersed in it. Not to get it and feel it as something living inside us isn't to comprehend the present. To join it with the present and extend it to the future, to part from it where it can't be so joined together, to make of this the throbbing and vibrat-ing material for thought and actionâ€that is life. Any essential activity springs from the profundities of the being. Throughout the entire the past of the individual and even of the race has arranged the foundation for that mental snapshot of activity. All the racial recollections, impacts of heredity and condition and preparing, subliminal urges, considerations and dreams and activities from early stages and youth onwards, in their inquisitive and huge misunderstanding, definitely drive to that new activity, which again turns out to be one more factor affecting what's to come. Affecting the future, somewhat deciding it, potentially even to a great extent deciding it, but then, without a doubt, it isn't all determinism. Regardless of whether there is any such thing as human opportunity in the scholarly sense or whether there is just a programmed prevent minism, I don't have the foggiest idea. An extremely incredible arrangement shows up positively to be dictated by the past complex of occasions which hunker down and frequently overpower the person. Perhaps even the internal urge that he encounters, that evident exercise of through and through freedom, is itself molded. As Schopenhauer says, a man can do what he will, yet not will as he will. A faith in a flat out discourage minism appears to me to lead unavoidably to finish inaction, to death throughout everyday life. All my feeling of life defies it, however obviously that very resistance may itself have been molded by past occasions Lifes Philosophy:- The beliefs and destinations of yesterday were as yet the standards of to-day, yet they had lost a portion of their gloss and, even as one appeared to go towards them, they lost the sparkling magnificence which had warmed the heart and vitalized the body. Underhanded triumphed regularly enough, however what was far more awful was the coarsening and twisting of what had appeared to be so right. Was human instinct so basically terrible that it would take times of preparing, through anguish and disaster, before it could carry on sensibly and raise man over that animal of desire and savagery and misdirection that he presently was? Also, in the interim, was each push to transform it fundamentally in the present or the not so distant future bound to disappointment? Finishes and means: would they say they were tied up indistinguishably, acting and responding on one another, an inappropriate methods twisting and a few times in any event, decimating the end in see? Be that as it may, the correct methods likely could be past the limit of sick and egotistical human instinct. What at that point would one say one was to do? Not to act was a finished con-fession of disappointment and an accommodation to underhanded; to act implied regularly enough a trade off with some type of that malicious, with all the untoward outcomes that such trade offs result in. Science doesn't reveal to us much, or for the matter of that anything about the motivation behind life. It is currently extending its boun-daries and it might attack the purported imperceptible world after a short time and help us to comprehend this motivation behind life in its most stretched out sense, or if nothing else give us a few impressions which light up the professional blem of human presence. The old discussion among science and religion takes another formâ€the use of the

The Turmoil of Extreme Introvertedness - Free Essay Example

In this paper, I will have the capacity to specify the turmoil of extreme introvertedness(Autism), a detach issue that impacts the ability of the Brain. It causes issues in such regions as social contact, knowledge, non-standard discourse and talk hindrances, on board stately or rash practices, and also exceptional responses to the condition that a rationally lopsided individual may havent exactly an equal as people not having extraordinary self preoccupation would appear. I will have the capacity to talk by in regards to the history and depiction of a psychological irregularity, the reason, affected age social affair, signs and angle impacts that stamp an exceptionally thoughtful individual, the general populace Joined Countries office a rationally lopsided individual may go to for helpful encourage and treatment, the genuine treatment that a rationally unequal individual may get, likelihood factors that a rationally uneven individual may skill, in any case youd asses somebody with a psychological lopsidedness, practices that somebody Joined Countries office envelops a psychological unevenness may partake in, and what is progressively the long run impacts and treatment targets for somebody Joined Countries office incorporates a psychological awkwardness must be constrained to choose to accomplish. I feel that by doing the greater part of this that ill get an a ton of extraordinary sentiment perception for people with a psychological lopsidedness to raised encourage them on the off likelihood that I must be constrained to ever have the benefit to figure with an exceptionally reflective person. ill give this data to you by encountering each reason that I really include plot inside the introduction and elucidative what each mean and the way they impact somebody with outrageous contemplation. For quite a long time, data demonstrates the disorder occurs in four out of ten thousand births. This was bolstered expansive scale studies led among the Assembled Conditions of America and European nation. a few as of late, appraises on the predominance of disorder have run. These appraisals ordinarily grasp those with disorder, Asperger disorder, and PDD. disorder {is also|is to boot} thrice heaps of obviously to possess a control on guys than females. This sex refinement isnt particular to disorder since numerous procedure handicaps have a considerably greater male to female quantitative connection. a few newborn children square measure awfully very surprising from birth. two normal qualities they will show encapsulate angled their withdraw from their parental figure to maintain a strategic distance from physical contact and neglecting to suspect being gotten (i.e., transforming into limp). As newborn children, they are ordinarily aloof or excessively furious infants. An aloof chi ld alludes to at least one Joined Countries office is calm more often than not making nearly nothing, assuming any, requests on his/her folks. Relate in Nursing excessively upset infant alludes, making it impossible to Relate in Nursing kid Joined Countries organization cries a not too bad arrangement, for the most part relentless, all through his/her waking hours. all through outset, babies start to shake or potentially strike their head against objects. a few babies with disorder square measure out and out very surprising from birth. an indistinguishable trademark theyll demonstrate is to keep away from social contact and neglecting to extravagant being expressed up. As newborn children, they are for the most part portrayed as either aloof or excessively disturbed infants. A latent child might be an infant Joined Countries organization is peaceful more often than not making pretty much nothing, or zero requests on his/her folks. Avery furious infant alludes to a child Joined Countries organization cries a better than average amount, for the most part constant. all through early stages, numerous start to shake as well as slam their head against the den; yet this will be not perpetually the situation. In the initial couple of years of life, some unfit babies achieve process points of reference, such as talking, slithering, and strolling, rich past the basic kid; while others unit extensively postponed. generally half unfit youngsters grow commonly until somewhere close to one 1/2 to 3 years old; at that point unfit manifestations start to rise. These people square measure for the most part talked as having backward disorder. A few people among the circle trust that Candida albicans, inoculations, introduction to an endemic, or the beginning of seizures {is also|is to boot} responsible for this relapse. Its together suspected that a few kids with backward disorder may have Landau-Kleffner Disorder Amid adolescence, unfit youngsters may fall behind their same-matured companions among the territories of correspondence, social abilities, and mental component. to boot, useless practices may start to show up, similar to self-stimulatory practices (i.e., dreary, non-objective coordinated conduct, such as shaking, hand-fluttering), self-damage (e.g., hand-gnawing, headbanging), dozing and utilization issues, poor eye to eye connection, unfitness to torment, hyper-/hypo-action, and consideration deficiencies. One trademark that is type of basic in disorder is that the persons emphasis on equivalences or perseverative conduct. numerous youngsters turn out to be excessively unshakable on schedules; on the off chance that one is changed, even somewhat, the tyke may wind up miracle and choler. Some basic cases are: drinking as well as utilization a similar sustenance things at each dinner, bran dishing certain article of vesture or request that others wear a similar garments, and getting the chance to class abuse a similar course. One achievable explanation behind emphasis on equivalences is furthermore the individuals failure to know and modify novel things. Mentally unbalanced people by and large have downside with the change to time of life. approximately twenty fifth have seizures out of the blue all through time of life which may result to discharge changes. furthermore, numerous conduct issues can turn out to be further continuous and additional extreme all through this time. Notwithstanding, others encounter time of existence without hardly lifting a finger. In refinement to twenty years past once numerous unfit people were systematized, there unit by and by numerous flexible living game plans. Generally, just the preeminent serious people rest in establishments. In adulthood, a few people with disorder live gathering with their folks; some rest in private offices; some live semi-autonomously, (for example, in Relate in Nursing amazingly group home); et al. live severally. There square measure unfit gro wn-ups Joined Countries organization move on from school and get graduate degrees; and various create grown-up connections and will wed. among the work environment, numerous unfit grown-ups square measure normally dependable and scrupulous staff. tragically, these people may have downside getting work. Since huge numbers of them unit socially ungainly and will have all the earmarks of being flighty or extraordinary, they for the most part have downside with the work meet. theres no descriptive word which can be acclimated legitimize each type of character with disorder in view of the very certainty there square measure a few sorts of this evil. for instance, a few people square measure hostile to social, various square measure asocial, et al. square measure social. some square measure aggressive towards themselves or potentially focused towards others. pretty much [*fr1] have little dialect, various rehash (or reverberate) phrases or potentially expresses, et al. may likewise have ordinary dialect abilities. for the clarification that there arent any physiological exams straight away to pick regardless of whether somebody has disorder, the guess of disorder is given once Relate in Nursing character shows assortment of trademark behaviors.in the last 5 years, examination has demonst rated that a great deal of those that move in unfit practices have associated however colossal issues. those comprise of: Asperger Disorder, Delicate X Disorder, Landau-Kleffner Disorder, Rett Disorder, and Williams disorder. Asperger Disorder is characterized by abuse concrete and strict reasoning, fixation on bound themes, breathtaking memories, and being flighty. those individuals square measure thought of over the top working and square measure equipped for holding a technique and of living severally. Delicate X Disorder might be a kind of gradualness amid which the long arm at the X chromosome is tightened. as to day of people with Delicate X Disorder sing their own commendations unfit practices. those practices incorporate: put off in discourse/dialect, steamed, negative eye to eye connection, and hand-fluttering. the main part of those individuals include at a direct to delicate degree. As they develop, their exact physical facial abilities may likewise turn into a great deal of recognized (e.g., prolonged face and ears), and that they can build coronary heart issues. people with Landau-Kleffner Disorder conjointly grandstand a few unfit practices, along the edge of social withdrawal, emphasis on equality, and dialect issues. those individuals square measure frequently thought of as having backward disorder because of they appear like conventional till some time or another among ages 3 and seven. they regularly have entrancing dialect skills in early adolescence yet a tiny bit at a time lose their capacity to talk. they even have abnormal personality wave designs which may be analyzed by abuse Relate in Nursingalyzing their EEG design for the length of a drawn out rest amount.Rett Disorder might be a confusion that effects essentially women and customarily creates between 1/2 to no less than one half years more established. assortment of their work practices envelop : loss of discourse, dreary hand-wringing, body shaking, and social withdrawal. those individuals influenced by this issue might be fundamentally to profoundly individuals. Williams disorder is characterized by means of differed unfit practices alongside: natural process and dialect delays, sound affectability, intrigue shortages, and social issues. when contrasted with a few unfit people, those with Williams disorder square measure quite agreeable and have coronary heart issues. despite the fact that theres no perceived particular explanation for disorder, there is creating verification that disorder might be as a consequences of Partner in Nursing.

Foundations Of Knowledge And Professional Skills Finance Essay - Free Essay Example

Sample details Pages: 4 Words: 1089 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? This exploratory study by Baker M. and Wurgler J. agrees with the school of thought that investors are sentiment inclined and this in turn affects stock prices. Don’t waste time! Our writers will create an original "Foundations Of Knowledge And Professional Skills Finance Essay" essay for you Create order Several articles have corroborated this claim, a recent article by Larry Swedroe (2012) states, Theres a strong body of evidence demonstrating that individuals tend to be influenced by investor sentiment. The main aim of the research is to measure investor sentiment and quantify its effect on stock prices (Baker M and Wurgler J, 2007). Even though a top down and macro-economic approach was adopted, some factors that are so pertinent to investor sentiment were not discussed. The approach being adopted here entails measurement of aggregate sentiments, reduced-form, and traces its effect to market returns and individual stocks (Baker M and Wurgler J, 2007). The theory of this study is based on behavioural finance which was defined by Sewell (2007) as the study of the influence of psychology on the behavior of financial practitioners and the subsequent effect on markets. There is also the belief that the movement of prices on the exchanges is dependent to a large extent on the mental attitude of the investing and trading public (Selden 1912, cited in Sewell 2007). This theory also argues that there is limits to arbitrage, which gives room for investor irrationality to be significant and have a long-term effect on prices. (Rohit, 2006). This theory gives a strong insight into the basis of this research. Investor sentiment exists and it has a strong influence on the stock market. How do we quantify this effect on the stock market? This is a very interesting question the study is trying to answer. The top down approach being adopted further identified classes of stocks that are more prone to investor sentiment than others. The study categorized investors to include those whose judgments are affected by sentiments, otherwise being referred to as the Irrational Traders; while the other class of investors include those whose decisions are not marred by sentiment. Sentiments come into play when there are uncertainties in the variables for determining the net value of a stock where there is a track record. Sentiment does not necessarily mean an upward valuing of a stock; it can also lead to the stock being underpriced. This research probes further into achieving its aim by discussing how to measure investor sentiments, the class of stock more sensitive to sentiment and to also ascertain if the level of sentiment is a contributory factor in the future when the effect of the sentiment has been eroded. After identifying the sentiment indices, the study was faced with the challenge of which measures amongst the ones highlighted to choose in quantifying the investor sentiment based on data availability on these indices. This narrowed down the sentiment proxies to be considered to six; trading volume, dividend premium, close-end fund discounts, volume of IPO and first day return, equity share in new shares (Baker M and Wurgler J, 2007). Even though data are available for some of the proxies, some other factors independent of sentiments have cropped up and regularly affected the data over the years. Regression was conducted on the indices to remove the effect of these external factors. Using the data available for mutual funds on 10 stocks, a three time-series regression was run on the 10 stocks (Baker M and Wurgler J, 2007). This relates volatility of the stocks and the ease or difficulty of arbitrage. In categorizing stocks according to their speculative appeal and the difficulty of arbitrage there was a difficulty in that professional analysts forecasts which would have been a gauge for speculations was not available dated back to the data gathering time span. This is a limitation to the quality of result. The study revealed that the effect of general demand for stock funds on monthly returns is higher for higher volatility portfolios, because the stocks there in are harder to arbitrage (Baker M and Wurgler J, 2007). It further proved that when sentiment is low, the average future returns of speculative stocks exceed those of bond-like stocks and when sentiment is high, the average future returns on speculative stocks are on average lower than the returns of bond-like stocks (Baker M and Wurgler J, 2007). Considering the limitations identified in the process of data gathering and other identified impediments which are not sentiment based which would have distorted the sentiment indices, the research would have been a qualitative one rather than quantitative. In quantitative approach, the upward valuing and downward valuing of a stock are measured against LIBOR which recently was observed to be influenced by the major bank treasury managers in United Kingdom. Some other factors that are pertinent to investor sentiments were also not discussed in the study namely; Media: The role of the media in influencing investors decision is a very salient factor that determines the level of investor sentiment. Lots of individual investors form perceptions about stocks based on information they get from the media. A study by Paul C. Tetlock (2007) was able to correlate level of media pessimism to induce pressure on market prices which is consistent with sentiment theories with the assumption that media content is linked to the behaviour of individuals. Terrorism: Terrorism is a menace ravaging particularly developing countries. Nigeria has been experiencing series of bomb blasts in most parts of the north making it unsafe for businesses to thrive. In response, Julius Berger amongst a lot of other foreign firms shut down their business in that part of the country. This is also taking its turn on the Stock Market as it was reported in The Guardian Nigeria of 15th June (2012:50) that Equity price of some highly capitalized stocks suffered depreciation due to profit taking by investors. The Stock market is experiencing capital flight as lots of foreign investors lose confidence in the market due to insecurity. Relating the claim above with the research by Konstaninos Drakos(2010:128), he stated that if terrorist attacks were a mood proxy, then their occurrences could be expected to cause investor sentiment to deteriorate and consequently put a downward pressure on stock prices. These are pointers to the fact that measuring investor sentiments comprehensively are based on some indices which cannot be quantified and as such a qualitative approach would have been more appropriate. Further research work would be in localizing the effect of investor sentiment in stock markets by country and not generalizing it considering the fact that some of the sentiment proxies mentioned above are economic and sociopolitical. The word count for this work is 1089.

A Brief Note On The Problem Of Evil - 726 Words

Hamartiology: The Problem of Evil There are many people in this world, whether Christian or non-Christian, that are confused regarding the problem of evil. They wonder why God can allow the atrocities that happen. In order to understand why there is confusion, we must go back to the beginning. When God created the Garden of Eden and man and woman, he gave specific instructions to them. God warned man of the consequences of disobeying Him (Genesis 2). This is where the beginning of evil took place. Elwell states that there are many problems of evil not just â€Å"the† problem of evil (Elwell, 414). There are two types of evil, moral evil and natural evil. The day that man disobeyed God, he committed moral evil (Elwell, 412). As a society, we have laws that we must obey and if we do not obey them, then we must face consequences. When we look around us, we see evil everywhere. People commit murder, assault and robbery on a daily basis. This is what is considered moral evil. The second type of evil is natural evil. Natural evil is something that is not cause by any specific agent, but has victims. Some examples include tornados, floods and earthquakes. According to the Bible, natural evil is a consequence of moral evil. Had man not sinned in the beginning, there would be no moral evil and therefore, no natural evil Elwell, 412). Because God loves us so much, He created man with an inherent freewill. Because man used freewill to sin, evil entered into the world and we wereShow MoreRelatedThe Saturn Myth As A Type Of Meta Structure740 Words   |  3 Pagesby which to identify uses of language and metaphor which rely on the monstrous to create difference or marginality. A brief look into the European origins of cannibalism, not as a practice but as a metaphorical construction, leads back to the Saturn myth. 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Macroeconomic Objectives and Economic Growth

Question: Discuss about the Macroeconomic Objectives Economic Growth and Fiscal policy. Answer: Fiscal policy is the way by which the spending level is adjusted by the government that influences the economy of a nation. It is considered as the sister policy to monetary approach with the help of which a central bank persuades money supply of a nation. Both the fiscal and the monetary policy are used in several combinations in order to direct economic objectives of the country. It involves the government that changes the taxation levels as well as government expenditure that influences Aggregate Demand (AD) and also the level of economic activity. There are mostly two types of fiscal policy such as expansionary fiscal policy and deflationary fiscal policy. The expansionary fiscal policy involves the elevating of AD and as a result, the government will raise expenditure as well as tax cut (Arrow and Kruz 2013). Figure: Expansionary Fiscal Policy (Source: Created by Author) On the other hand, deflationary fiscal policy involves the reduction of AD and as a result, the government will cut government expenditure as well as increase tax. Figure: Deflationary Fiscal Policy (Source: Created by Author) The major role of the fiscal policy in the modern economy is that it helps to determine how to allocate all the resources. This is mostly linked to the issues of taxation and expenditure. The role also includes mobilization of resources in the private and public sectors. In a modem economy, both national income and per capita income are low due to low rate of savings. As a result, governments push the investment rate through forced savings. The government also undertakes fiscal policy in order to lead to a proposed investment (Leeper and Zhou 2013). The rate of growth is also increased with the help of fiscal policy by increasing the rate of investment in the modern economy. Several tools of fiscal policy such as taxation, borrowing as well as deficit financing are used in a joint manner so that they do have an adverse impact on consumption, distribution as well as distribution of assets. Another most important role that is played by fiscal policy is that it helps to persuade sociall y optimal investment. In other words, fiscal policy persuades investment into those useful channels that are considered both socially and inexpensively desirable. Fiscal policy also helps to provide employment opportunities to the individuals in the modern economy as it encourages the economy to increase expenditure that will in turn raise employment opportunities (Hein and Truger 2013). According to the viewpoint of J.M Keynes, fiscal policy plays an imperative role that helps to lift the economy out of dejection. It also helps to close the gap that is related to deflation. The scenario that takes place when an economy is in depression is that it faces raised unemployment, reduced per capita income as well as reduction of economic activities. However, in order to increase expenditure, the government also imitates many public programs that also leads to augment in the aggregate demand level as well as employment level in the economy. In order to close the gap, the government raises their expenditure that directly raises the aggregate demand curve (Arestis and Resende 2015). Fiscal policy has been the brainchild of famous economists J.M Keynes. According to his view, the government of any nation can control the economys condition by influencing the productivity of the nation by manipulating the amount of public spending and tax rate (Arrow and Kruz 2013). Fiscal policy is the most important tool in the hands of the government along with the monetary policy, which is indirectly regulated by them (Blanchard and Leigh 2013). This answer focuses on the current economic stances through which Australia is passing through as can be understood from the news article provided. According to theory, fiscal deficit is the situation where the total expenditure borne by the government of any country exceeds the revenue earned by them. There has been a constant conflict regarding the wellbeing of fiscal deficit where Keynessian followers support the scenario. Current Stance: According to ABC News (2015), Australia has been facing severe deficit in their balance budget. There has been a downfall in the GDP rate to 2.5%. The government has been passing through a tough time where there has been budget deficit and the volume of deficit increased to $37 billion. The government has been expecting a rise in their unemployment level and consequently is expected to face anarchy in their economy. The budget deficit Fiscal Policy: It has been observed that Japan through their Abenomics has brought in changes in their monetary as well as fiscal policy in the year 2013 whereby they planned to take up expansionary fiscal policies. It has been observed that Japan had successfully been able to reduce their deflationary pressure and also tried to keep their inflationary rate below 2% (www.gfmag.com 2015). However, Australia has been facing budget deficit but it can be said that following expansionary policy like Japan, it may come out of their ill condition. The Australian government is initially going to face a tough time but by using expansionary policy, they can increase the scope of aggregate demand within the economy. Since, there has been a large debt on governments part therefore if interest rate is reduced the benefit can be reaped by the private sector in Australia. They can take the scope and increase their investment thereby expanding their supply. In this way the nation can generate demand , meet supply and thereby get out of the situation like Japan did during 2013-14. Comparison of Australias Budget Deficit OECD countries: It has been observed that the budget deficit of Australia is around 1.4% during the year 2015. Statistical data shows that OECD countries has been facing deficit since 1990s. In addition, data reveals that most of the OECD countries have been able to recover their situation and see surplus in their economy (data.oecd.org 2015). Data from 2015 reveals that Australia has around 1.4% deficit whereas the budget deficit of the entire OECD countries is 3.2% (www.gfmag.com 2015). Hence, from this figures it can be said that though Australia faced a decrease of around $37 billion during 2015, still it can be said that it is in a better condition when compared with the nations falling under OECD. The MYEFO that was released by the government had some negative impact on the fundamental cash balance over the forward estimates. There are few indispensable steps in order to address some unresolved problems that innate from the previous government that have contributed towards the deterioration of the budget deficit includes investment measures linked with revoking the carbon tax. It also included infrastructure programs of land transport as well as implementation of wider protection approaches. A grant payment of $8.8 billion to the Reserve Bank of Australia (RBA) has been considered as the key cause that led to deterioration of the budget deficit (Cheung, Manning and Moore 2014). It has been stated by MYEFO that a deterioration of $2.9 billion was accredited to removal of uncertainty in relation to about 100 announced. The cut in government is also considered as one of the major cause that led to deterioration of the budget deficit. In other words, the government has more than c ounterbalance the supplementary expenditure with that of new savings measures. The most imperative single payment across the four years is a grant of $8.8 billion given to the Reserve Bank of Australia in the current financial year. While the payment was made visibly by the Coalition, there has been a question about the fact that whether the cost itself was new or whether it was capital that should have been remunerated to the Reserve Bank while Labor was in government. According to the opposition, such a lump sum amount was never asked for and an official advice was released that stated that a cash grant could generate speculation in the market about the constancy of RBA. It also stated that there was no lawful basis in order to make cash injection (Ballantyne, De Voss and Jacobs 2014). Although, the payment was viewed as a new expenditure, it is worth noting that the RBA did not make any official request for cash grant. The likely consequences of government spending cuts include a negative impact on aggregate demand. The demand side conflict of a cut in government spending will mostly depend on the condition of the economy. In other words, reduction in government spending will lead to reduction of aggregate demand (AD). As a result, both economic growth and inflation will be reduced. A massive reduction in real GDP is likely to take place if the cut in government expenditure takes place in a complicated economy (Alesina, Favero and Giavazzi 2015). However, if the cut in government expenditure takes place in a thriving economy, it will reduce inflation with an insignificant decrease in GDP. The A$0.6 billion decrease in the year 2016-2017 deficit in MYEFO is comparison to the budget figure from the previous year is gratifying for the government. It essentially overlooks the big story that is likely to have an impact on the unpredictably lower level of GDP. This will in turn put a huge hole in tax proceeds to the tune of A$5.3 billion that is reflected in the fiscal balance however; not the cash balance in this economic year (Valle de Souza, Dollery and Kortt 2016). Year Estimated Deficit (billion) 2015 MYEFO 35835800000000 2016 MYEFO 36500000000 2016-2017 Budget 37100000000 The fundamental cash balance is considered as the measure in this chart. It is a cash measure that records proceeds that is received. According to MYEFO, the fiscal balance is likely to worsen by A$4.4 billion this current year. MYEFO forecasts that GDP growth in the year 2017-2018 is likely to be 2.75 percent as compared to 3 percent forecast of 2016-2017. There are several costs that are associated with huge unemployment rates that comprise a loss of personal confidence as well as other communal problems. Governments also face consequences such as having to modify inadequate taxation revenue from helpful projects to social security payments. The rate of unemployment is considered as the widely extracted indicator of unemployment (Daley, McGannon and Hunter 2014). More than 1.5 million working aged individuals rely completely on social protection for a lifestyle. Slower expenditure of the government also plays a key part in this case. The upshot of the proceeds as well as expenditur e revision is the proposed return to surplus of 2020-21. The considerably deterioration cash balance in the near future, from 2017 to 2020 as compared to the equivalent projection in the 2016-2017 Budget illustrates the deteriorating economic outlook. The unanticipated lower private sector investment led to decrease in GDP that in turn lead to decrease in business confidence. This in turn led to descending revision to GDP growth over the subsequent few years. The deterioration of the current account mostly led to worsening of the severity of deficit for 2017. It was also accompanied by competitiveness that was considered as another imperative cause. The worst case in this case is the loss of the battle on the savings and a net impact of A$10 billion (Duchin, Gilbert, Harford` and Hrdlicka 2016). The economic outlook also crucially relies on the legislation of the government that is considered as the substantial agenda for cuts in expenditure. Under the Morrison MYEFO forecast, government expenditure as a share of GDP is predictable to be 2 5.2 percent of GDP in both the year 2016 and the year 2017. The major strength of making the use of fiscal policy is that it has noteworthy impact on the national income and as a result, it has immediate impact on the economy. It also helps to promote macroeconomic constancy mostly during economic recession by supporting aggregate demand and also private sector incomes. The government also employs it, when there is high rate of unemployment that in turn helps to stabilize the economy. This mostly increases investment as well as purchases and also lowers taxes. Tax cuts leads to more disposable income with every individual that in turn leads to increase in demand for commodities and services. In order to stabilize the economy with the help of fiscal policy, private sectors raises productivity that helps to create more jobs in the procedure. Another most imperative strength of fiscal policy is that it helps to reduce budget deficit (Auerbach and Gorodnichenko 2013). A budget deficit mostly takes place when expenditure in a country is more than its proceeds. Since the economic consequences of this deficit comprise augmented public debt, the country then can follow a contraction fiscal policy. As a result, public expenditure will be reduced and also raise the rate of taxes that will eventually lower the budget deficit in the economy. The several fiscal policies used by a country leads to expansion of the national economy. When the government diminishes rates of tax, individuals will have a larger incentive to expend as well as guide the economy forward. One of the weaknesses of fiscal policy is that it leads to conflict of objectives. Fiscal policy also leads to rising apprehension about the complexities that are generally faced by public retirement fund as well as health care systems in outlook of demographic expansion (Bjrnland and Thorsrud 2016). It also leads to intransigence such as delay in the implementation of fiscal policy. There are several measures that might go through lawmaking procedure. In the bad times, it i s requisite to pay more or less tax so that the economy can be stabilized. However, one of the negative aspect that is associated with it is that both tax as well as cut in government expenditure gets increased during the good times (Matsusaka 2014). References: Alesina, A., Favero, C. and Giavazzi, F., 2015. The output effect of fiscal consolidation plans.Journal of International Economics,96, pp.S19-S42. Arestis, P. and Resende, M.F.C., 2015. Fiscal policy and the substitution between national and foreign savings.Journal of Post Keynesian Economics,37(3), pp.436-458. Arrow, K.J. and Kruz, M., 2013.Public investment, the rate of return, and optimal fiscal policy(Vol. 1). Routledge. Arrow, K.J. and Kruz, M., 2013.Public investment, the rate of return, and optimal fiscal policy(Vol. 1). Routledge. Auerbach, A.J. and Gorodnichenko, Y., 2013. Output spillovers from fiscal policy.The American Economic Review,103(3), pp.141-146. Ballantyne, A., De Voss, D. and Jacobs, D., 2014. Unemployment and spare capacity in the labour market.RBA Bulletin, pp.7-20. Bjrnland, H.C. and Thorsrud, L.A., 2016. Commodity prices and fiscal policy design: Procyclical despite a rule. Blanchard, O.J. and Leigh, D., 2013. Growth forecast errors and fiscal multipliers.The American Economic Review,103(3), pp.117-120. Cheung, B., Manning, M. and Moore, A., 2014. The Effective Supply of Collateral in Australia.RBA Bulletin, pp.53-66. Daley, J., McGannon, C. and Hunter, A., 2014. Budget pressures on Australian governments 2014.Grattan Institute, viewed,21. Duchin, R., Gilbert, T., Harford, J. and Hrdlicka, C., 2016. Precautionary savings with risky assets: When cash is not cash.The Journal of Finance. Hein, E. and Truger, A., 2013. Fiscal policy and rebalancing in the euro area: A critique of the German debt brake from a post-Keynesian perspective. Leeper, E.M. and Zhou, X., 2013.Inflation's role in optimal monetary-fiscal policy(No. w19686). National Bureau of Economic Research. Matsusaka, J.G., 2014. Disentangling the direct and indirect effects of the initiative process.Public Choice,160(3-4), pp.345-366. OECD. 2015., General government - General government deficit - OECD Data. [online] Available at: https://data.oecd.org/gga/general-government-deficit.htm [Accessed 8 Feb. 2017]. Pasquali, V. 2015, Global Finance Magazine - Percentage of Public Deficit/Surplus in GDP Around the World. [online] Global Finance Magazine. Available at: https://www.gfmag.com/global-data/economic-data/public-deficit-percentage-gdp [Accessed 8 Feb. 2017]. Valle de Souza, S., Dollery, B.E. and Kortt, M.A., 2016. A critical evaluation of Australian mineral resources rent tax.International Journal of Public Administration, pp.1-9.