The book of Luke and Acts Essay Example for Free

The book of Luke and Acts Essay The book of Luke and Acts are of the same author. It is addressed to Theophilus. On the introduction of the book of Luke, Luke wrote: Therefore, since I myself have carefully investigated everything from the beginning, it seemed good also to me to write an orderly account for you, most excellent Theophilus, so that you may know the certainty of the things you have been taught (Luke 1:3-4). With that verse it is clear that Luke did investigated the accounts of Jesus.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   If we try to study the Bible from Matthew to John, all of the accounts are similar. They only differ in the details of the accounts. Luke is not the direct disciple (not one of the 12 disciples) of Jesus Christ but he was able to reconcile what he wrote with the books of John, Matthew and Mark. With the same accounts found in Matthew, Mark, and John, we can conclude that he understands Jesus’ purpose here on earth.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On the book of Acts, Luke elaborates the things that make a Christian. He mentioned even how a Christian should act. He even wrote some of the accounts of the believers after Jesus ascended to heaven. In his books he never mentioned about how he understands the death of Jesus, but on his writings we can say that he fully understand the death of Jesus; that is to redeem us from our sins.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On the other hand, it is the faith that convicts him to tell the people that Jesus is innocent of a sin deserving to death. As we can see on the accounts of Jesus on the book of Luke, Jesus did not commit things that deserve death but rather it is because of the fear of the Pharisees that the attention of the people will be diverted to Jesus. They are afraid that their positions will not be honored by the people. It is for that reason that Luke really is convicted to tell the world not only the innocence of Jesus Christ but the truth and the love that Jesus offer on the cross to save His people.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Basically, faith is the motivation of Luke in telling such thing to people. We can even attest that when we have faith on a certain thing we can do even the impossible things just to pursue or stand on the faith that we have. Work cited: The Holy Bible (1988). The New International Version. Broadman Holman Publishers: Nashville

The Strengths and Weakness of Affirmative Action

The Strengths and Weakness of Affirmative Action Affirmative action was formed more than fifty years ago during the Civil Rights movement with the goal of everyone having the same chances in life. A lot has changed since then. So why are we still trying to make up for past sins? Are the people who are benefiting from affirmative action today the ones who were harmed and discriminated against in the past? No. The race card should not be used in an academic environment and diversity should not put a more qualified applicant on the side lines. Academics should be the determining factor for college admissions not race. According to Kristina Crawley and Tony Magart, Affirmative action is a program built on racial discrimination, all the while claiming to fight it. In order for a student to achieve advancement other students are unjustly discriminated against or punished. Colleges should be looking at the accomplishments of the students, not what ethnicity they were born. Colleges even post the percentages of each minority attending their schools on their websites. Is this supposed to sway students to attend specific colleges based on who their fellow classmates are to be? Does this guarantee diversity? Shouldnt students be looking at what the college can offer them to help them succeed in life? They have their whole lives ahead of them. The primary problem with affirmative action in colleges is it has failed to bring about a major goal to ease racial tension and lessen the color consciousness of college students. The actual results have had the opposite effect. According to Mr. Roberts, Affirmative action poses a conflict between two cherished American principles: the belief that all Americans deserve equal opportunities and the idea that hard work and merit, not race or religion or gender or birthright, should determine who prospers and who does not. How are students suppose to see each other as equals if they are not considered equals when applying to college? The message minorities are receiving according to Mr. Steele, Society now tells them that if they will only designate themselves as black on their college applications, they will probably do better in the college lottery than if they conceal this fact. The tensions continue to exist because the white student sees the minority student as undeserving and the m inority student sees the white student as racist and part of a group that works against furthering the minoritys ability to obtain a college education. Affirmative action creates reverse discrimination which is defined as Discrimination against members of a dominant or majority group, especially when resulting from policies established to correct discrimination against members of a minority or disadvantaged group. This is the case when colleges are allowed to consider race when accepting college applications. Arent colleges actually practicing what the country is trying to eliminate; discrimination? Colleges dont see themselves discriminating against other students. They call it diversification. There are many ways colleges can diversify without using race to achieve those goals. There are minorities who have qualifications to attend college without affirmative action. Not all minorities are in low income areas which have less than desired school systems. What about those students who break free from the Ghetto? There are many success stories from minorities who have risen above poverty and became very successful. We want students who will succeed in college and have something to contribute to our education, not a free pass. Advocates of affirmative action believe that for better learning classes must have a diverse student environment. This logic is flawed. According to Mr. McElroy, Racial diversity does not necessarily lead to diversity of opinion. Students with different interests and talents make a campus life vibrant and ensure that a variety of activities are pursued. Race is a purely external characteristic and has no effect on what a person brings to a community. To suggest that skin color determines ones attitude or what they might bring to the table is racism in itself. Why does skin color dictate ideas or activities a person may pursue? Diversity is not determined by skin color. Society has been unfair to minorities in the past. Yes, our ancestors did profit from using slave labor. Affirmative action does not make up for wrong doings. According to Mr. Steele, It is impossible to repay blacks living today for the historic suffering of the race, demonstrating the absurdity of trying to make up for what our ancestors did. Society is discriminating against a new group now in order to compensate for the discrimination of one group in the past. What has been accomplished when discrimination has yet to be conquered? Why does the need for diversity have to keep discrimination alive? At Wayne State University Law School in Detroit, despite the ban on affirmative action, the new admissions policy still has the ability to see color. Instead of checking a race box officials look at the students address. They are able to see if the student lives on an Indian reservation or in the heart of Detroit where the population is concentrated mainly with African Americans. What has changed? They still see color knowing who resides in these populace areas. It does not matter that the people voted for a ban on using race in the admission process. The colleges are finding new ways to continue to act in the old ways of admitting college students for the sake of diversity. According to Mr. Connerly, If black and Hispanic students are rare at selective universities, the solution is better academic preparation, not special treatment in admissions. Every individual should have the same opportunity to compete. The problem is not about the minority students who are excelling but about the minority students who are statistically failing in the public school system. Statistics show that blacks who were given preferential treatment failed at elite colleges at a much higher rate than other races and affirmative action gave those unprepared students admission to those colleges. When a college uses race in the admissions process and then the students later fail is a real disservice to those students. The color of a students skin should not be the deciding factor. Society is creating new problems for minority students all the while trying to bring diversity to their colleges. A popular belief about why minority applicants are less qualified to attend college is they have not been provided the same opportunities generally provided to white students. This is true. The system in this country does not give minority groups equal access to economic and educational resources. This does not mean that minorities should slide into college without the foundation to succeed. If they are unprepared they are more likely to fail. It would be more sensible to find the source of the problem. School funding should be changed. There should be a system where low income schools get the funding they need to rise above the issues they face every day. Better teachers need to be attracted to these areas to try and make a difference. Yes this is a large order and will take time. No one said solving discrimination would be an overnight process. Armstrong Williams, a black syndicated columnist stated, There is a very real danger that we are merely reinforcing the idea that minorities are first and foremost victims. Because of this victim status, the logic goes, they are owed special treatment. But that isnt progress, its inertia. By putting minorities into the role of victims, we are not helping them to advance, we are holding them in place. Affirmative action places students in situations where their efforts are not measured but the color of their skin is. What does this teach them? How does this give students confidence and control of their actions? Is it more important to bring minority students in the classroom no matter how prepared they are for the sake of diversity? If you believe in affirmative action you believe some people didnt get a fair shake in life and need help. Whats wrong with helping the little guy, the one who hasnt gotten a break in life? Many students live in poor segregated communities and the only hope they have to leave is to better themselves at colleges or universities outside their neighborhoods. These students are able to get to the front of the admissions list just by their heritage. This doesnt mean they arent hardworking students and are just as capable as their white counterpart. Affirmative action levels the playing field for them, but is this really fair? According to Peter Schmidt, Proponents of race-conscious admissions policies have yet to produce a study of their educational benefits without some limitation or flaw. Many focus only on benefits to minority students. Others define benefits in nakedly ideological terms, declaring the policies successful if they seem correlated with the adoption of liberal views. A large share relies on survey data that substitute subjective opinions for an objective measurement of learning. Advocates of affirmative action argue that it is unfair to demand more of the research. They feel no education policy has irrefutable proof of its effectiveness. There are other alternatives to achieve diversity without using affirmative action. In Florida, the public university system uses the method which admits the top twenty percent of each graduating class. Texas uses a similar program and admits the top ten percentage of each of their graduation classes. Colleges and universities must look further at both students and teachers if they want diversity. Checking off a race box on an application does not necessarily bring more diversity to the classroom. Using college entrance essays will tell the admissions official more than looking at his or her race. A student who has had extensive travels because one of his or her parents is in the military will bring more diversity to a classroom than the black student who has grown up in the suburbs. Teachers also can bring a wide range of diversity with more than their race. Even white teachers can have fascinating backgrounds that can contribute to their teaching styles. Maybe the teacher was in the Peace Corp for a period of time or was raised in another country. How do we know what a teacher can bring to the college by looking at race? There are many good and bad teachers in the educational system. The most important factor would be to find more qualified teachers to give the students a good e ducation and not put the emphasis on diversity. Affirmative action has made the admission system look too closely at race. Instead they should be looking at all the other characteristics about a person and their achievements. The color of ones skin should not define a student. If two students are raised in the same neighborhood and one is black and one is white how much diversity will the black student bring to campus? Both students grew up in the same environment but the only difference is the black student can check the race box. Race is an external characteristic and should not be used to push one student above the other in the admissions process. Affirmative action does not guarantee diversity. Nor does racial diversity automatically lead to diversity of opinion. Campus life is made up of students with different interests, talents and goals. Affirmative action does not bring diversity to colleges it brings discrimination. Students should be judged on grades, test scores, entrance essays and other achievements. Race should not become a factor because it is outside a students control. Works Consulted Marie, Gryphon. The Affirmative Action Myth. Fox News. July 14, 2004. http://www.foxnews.com/printer_friendly_story/0,3566,125729,00.html. Alexandra, Aggor. Affirmative Action Does More Harm Than Good. Daily Skiff. October 8, 2009. http://media.www.tcudailyskiff.com/media/storage/paper792/news/2009/10/08/Opinion/Affirmative.Action.Does.More.Harm.Than.Good-3796293.shtml. Lynne, Varner. This Affirmative-Action baby. The Seattle Times. January 21, 2009. http://community.seattletimes.nwsource.com/archive/?date=20030121HYPERLINK http://community.seattletimes.nwsource.com/archive/?date=20030121slug=lynne21HYPERLINK http://community.seattletimes.nwsource.com/archive/?date=20030121slug=lynne21slug=lynne21. Independent student. Editorial: Debating Affirmative Action. The Daily Free Press. April 5, 2007. http://community.seattletimes.nwsource.com/archive/?date=20030121HYPERLINK http://community.seattletimes.nwsource.com/archive/?date=20030121slug=lynne21HYPERLINK http://community.seattletimes.nwsource.com/archive/?date=20030121slug=lynne21slug=lynne21. Kristina Crawley and Tony Magart. Bulletin Debates Affirmative Action Cons. February 7, 2003. http://media.www.gonzagabulletin.com/media/storage/paper375/news/2003/02/07/Opinion/Bulletin.Debates.Affirmative.Action.Cons.part.2.Of.4-363725.shtml. Marie, Gryphon. The Affirmative Action Myth. Policy Analysis no. 540. April 13, 2005. http://www.cato.org/pub_display.php?pub_id=3722. Hugh, Price. Fortifying the Case of Diversity and Affirmative Action. https://netfiles.uiuc.edu/hschein/www/readings/Pascarella-myths.html. Peter, Schmidt. Americas Universities Are Living a Diversity Lie. The Wall Street Journal. June 28, 2008. http://online.wsj.com/article/SB121460672212612067.html. Ilan, Wurman. Social Science and The Failure of Affirmative Action. December 13, 2006. http://media.www.claremontindependent.com/media/storage/paper1031/news/2006/12/13/Opinion/Social.Science.And.The.Failure.Of.Affirmative.Action-2598560.shtml.

Director Network Influence on Stock Price Cash Risks

Director Network Influence on Stock Price Cash Risks Introduction A sprouting issue in corporate governance and the business world is the concept of executive network. Recent accounting and finance literature use social network theory to explain various corporate behaviors and practices steaming from information, resources exchange and relationship building. The correlation between executive network and earnings management (Omer et al, 2016; Chui, et al 2012), director network and tax management (Brown Drake, 2013), and director network and corporate investment decisions (Singh Schonlau, 2009), among other corporate practices have been capaciously researched but stock price crash risk has been overlooked in the area of social networks. Firms have congruent behavior patterns as a result of the information exchange among them. The observed herding behavior of firms can be explained by social network theory which predicts firms to imitate others especially those perceived to possess superior information (Lieberman Asaba, 2006). Corporate executives have incentives to manipulate the financial performance by withholding bad news (with the believe that such bad news can be over turned in the future) and accelerating the disclosure of good news (as this signifies competency). As directors imitate each other, such behavior can easily diffuse among them. The effect of director networks on firms performance disclosures is multifaced. Prior director network literature document that through information exchange, directors learn from their peers on how to better perform their monitoring and advising roles to maximize shareholder value (Chuluun et al., 2014; Larcker et al., 2013). Directors can enhance their monitoring expertis e by linking up with other directors who are more experienced and connected to other experienced directors. Through the positive learning hypothesis, directors become better monitors of managers of their firms. My conjecture here is that directors can improve their individual expertise and efficiency by obtaining more quality information from other directors. As a two-edged sword, director networks can also be a vehicle for the diffusion of bad corporate practices. Social interactions can act as dais through which information about undesirable corporate practices are exchanged. According to Davis (1991), the diffusion of poison pills adopted among US firms in the late 1980s were engineered through the network directors built. Also, options expending and backdating were documented to relate to networked firms (Reppenhagen 2010, Bizjak et al., 2009). The propensity to replicate bad act when those engaged in the act go scot-free after a long time (Marvin Shigeru, 2006). By the negative learning hypothesis, directors carry information about such bad corporate practices to their firms. This can mitigate against the monitory role of directors hence adversely affect their performance. I assume that directors take the final responsibility for various corporate practices including financial report transparency and disclosures. This proposed study seeks to employ social network and business imitation theory to examine stock price crash, which usually result from hoarding bad news from the stock market. Prior literature argue that managers hoard bad news either to achieve personal goals such as higher compensation, job security and empire building or presumptuously to maximize long-term shareholders value (Ball, 2009; Kothari et al., 2009; Graham et al, 2005). Whatever the goal, whether to achieve personal agenda or to promote shareholder value, bad news hoarded and accumulated for long result in stock price crash. (Hutton et al.,2009; Jin and Myers, 2006). Several papers, summarized below, have explored the connection between crash risk and various firm level characteristics. However, studies that directly investigate stock price risk through executive personal characteristics have concentrated mostly on managers personal attributes such as CEO over confidence but the social structure within which the phenomenon is practiced has largely been ignored. My proposed study seek to examine the empirical link between the relationships directors build and the distribution of stock returns. My study will contribute to the literature in several ways. First, to my knowledge, this will be the first study to examine the relation between director network and stock crash risk. By focusing on a unique perspective, this study will provide new evidence concerning the economic consequences of social imitations. In particular, the findings will identify significant benefits that social interactions bring to firms and their shareholders. Xing, Zhang, and Zhao (2010) and Yan (2011) suggest that extreme outcomes in the equity market are of extreme concerns to shareholders and will require interpretations. Thus, the empirical evidence will be useful for understanding the role that director network plays in influencing both corporate behavior and investor welfare. Second, this will extend the literature on corporate governance by showing the relation between social connectivity and stock price crash risk relative to the strength of corporate governance mechanisms in place in a firm. Th is will provide more explanation on the conventional governance mechanisms in monitoring the flow of corporate information to the equity market. Third, this study will add to the research on bad news hoarding theory of stock price crash risk. In particular, the implication of social interactions for future crash risk will provide valuable insights into the behavioral-sociological nature of managerial manipulation of information. Recent studies on crash risk suggest that managerial bad news hoarding activities can be explain via religion (Jeffrey L. Callen and Xiaohua Fang, 2015), corporate social responsibility (Yongtae Kim, 2014), CEOs over confidence (Jeong-Bon Kim, 2014), CFOs equity incentives (Jeong-Bon Kim, 2011) accounting conservatism (Kim et al, 2010), tax avoidance (Kim et al, 2010), and corporate financial opacity (Hutton et al, 2009). However, it is not clear what role executive social connections and/or social norms play in influencing the behavior to conceal bad news. My study will help to fill this gap in the literature by providing evidence on the relation between director network and crash risk and the consequential role that social connections play on managerial bad news hoarding activities. Last, but not the least, this study will provide investors with priceless information on how the social business environment affects firm behavior, which may help them to predict and eschew future stock price crash in their portfolio investment decisions. Research objective The objective of this study is to find out how stock price crash is influence by the social set up directors build. Specific research questions are; Can stock price crash risk be explained through director network? Does the level of stock price crash risk increase with the degree of executive connectedness? How much dissidence of stock price crash is attributable to director network? Research design The variables for this study-director connectedness and stock price crash risk will be independently estimated using Riskmetrics, CRSP and COMPUSTAT data. The Riskmetrics will be used in computing the measures of directors network. Data on the stock return for the calculating crash risk will be obtained from CRSP while compustat will provide the relevant company financials for my research. My sample size will cover the period of 1990-2014. The result of the first stage estimation will be put into a cross-sectional regression model for further estimation of the relationship between firm networks and stock price crash risk. I will use UCINET/PAJEK to estimate various dimensions of director networks (Omer et al., 2014). Crash risk will be estimated using (Chen et al .2001), Jin and Myers (2006) and Hutton et al (2009) models which provides three measures of crash risk including i) the negative coefficient of skewness of firms specific daily returns, ii) the down-to-up volatility of firm -specific daily returns, and iii) the difference between the number of days with negative extreme firm-specific daily returns and the number of days with positive extreme firm-specific daily returns. The primary model for the regression will be; CrashRiskj =ÃŽÂ ±+ÃŽÂ ²1 DirectorNetworkj + ÃŽÂ ²2Controlvariables + ÃŽÂ µi Where CrashRiskj and DirectorNetworkj refer to the various measurements of crash risks and director networks of firm J respectively. Literature review Former Chairman of the Board of General Motors John G. Smale wrote in 1995: The board is responsible for the successful perpetuation of the corporation. That responsibility cannot be relegated to management. A board of directors is expected to play a key role in corporate governance. The board has responsibility for: CEO selection and succession; providing feedback to management on the organizations strategy; compensating senior executives; monitoring financial health, performance and risk; and ensuring accountability of the organization to its investors and authorities. The board thus play important role in corporate governance hence the need to study the board in broader perspective including their social networks. This is because through network, knowledge, ideas and corporate practices whether good or bad are shared between companies. Director network thus serves vehicle for the spread of behavior between related firms. (Asch 1951; Milgram 1963, Hirshleifer and Teoh (2003, 2009) Director networks Social network theory suggests that individuals behavior is the product of their social interactions and this connection extends to corporate behavior (Jackson, 2008; Newman, 2010). Individuals and their links form a network across which they share ideas and resources, which influences their decision. Under opacity, observe behaviors of others, can provide useful insights (Marvin Shigeru, 2006). Social networks serve as channel for the transmission of information about corporate practices climaxing into herding behavior (Bikhchandani, Hirshleifer, Welch, 1998; Hirshleifer Hong Teoh, 2003). The link can either be direct such as shared directorates, trade partnership or indirect such as friend of friend of friend. Newman (2010) provides evidence on the relevance on the indirect link in the information sharing process. A director with many connections become an information hub making him very powerful in the chain of network. This is described as centrality in the n etwork literature (Jackson, 2008). A direct link to an information hub increases access to more complete information. Also, connection to a direct link to the information hub can acquire some information, though the closer the better. This had led to four measurements of director network namely degree, eigenvector, betweenness and closeness centralities. Degree centrality is the absolute measure of individual social connections and boast of more information. The indirect connection where ideas exchange is from several other links is known as eigenvector centrality. Betweenness centrality relates to information control within the web. In a network, an individual positioned between two others serving as the medium of information exchange between them is viewed as one controlling information flow. The last dimension of network which relates to the proximity to information access to enhance optimization is the closeness centrality. Closeness centrality measures how quick information fr om other members of a network gets to an individual. The closer an individual is to a source of information, the more efficient and easier it is to access information (Jackson, 2008; Newman, 2010). The kind of information received will be parallel to the actions of the individual. I therefore, hypothesize that, firms within the same network will have homogeneous behavior. Director networks and stock price crash risk Financial reports provide information about a firms economic performance. Accounting numbers are crucial for economic decisions of a firms stakeholders but their relevance can only be harness when provided at the right time. Corporate executives naturally exhibit some resistance in disclosing bad performances of their firms and this behavior catalyst to stock price crashes (Hutton et al., 2009; Jin and Myers, 2006). Managers have been reported to have hoard information to opportunistically influence contractual outcomes (Cheng, Man, Yi, 2013, Healy Wahlen, 1999; Verrecchia, 1983). Extant literature documents the motives for information hoarding such as personal gain and career concern. (Kothari et al. 2009). In addition, Ball (2001, 2009) argues that nonfinancial motives, such as empire building and maintaining the esteem of ones peers, also provide powerful incentives for managers to conceal bad performance. Empirically, Kothari et al. (2009) find evidence consistent with the tendency of managers to hoard bad news. The managerial tendency to withhold bad news leads to bad news being stockpiled within the firm. However, there is a certain point at which it becomes too costly or impossible for managers to withhold the bad news (Kothari et al., 2009). When such a tipping point arrives, all the hitherto hidden bad news will come out at once, resulting in a large negative price adjustment, that is, a crash (Hutton et al., 2009; Jin and Myers, 2006). Moreover, Bleck and Liu (2007) argue that the withholding of bad news prevents investors from discerning bad projects from good ones and, therefore, from liquidating bad projects promptly. Thus, bad projects are kept alive and the resulting negative cash flows eventually materialize, triggering asset price crashes. Employing country- and firm-level designs, respectively, Jin and Myers (2006) and Hutton et al. (2009) provide empirical evidence consistent with the above mecha nisms of stock price crashes. Several papers support the linkage of director network to various corporate behaviors such as expending stock option, (Reppenhagen 2010), private equity incentives (Stuart and Yim 2010) stock option backdating (Bizjak et al. 2009) and poison-pill adoption (Davis 1991). Others include director network and mutual fund performance (Cohen, Frazzini, and Malloy, 2008; Kuhnen, 2008), venture capital investments (Hochberg, Ljungqvist, and Lu, 2007), executive compensation (Barnea and Guedj, 2009), and firm governance (Fracassi and Tate, 2008; Hwang and Kim, 2008). They provide empirical evidence on the transfer of behavior between related firms. Building on the literature on social network and the literature on crash risk, I propose that director network can affect firm-level stock price crash risk. Since director network can pass good or bad business practices, it can mitigate or contribute to crash risk, however, the quantum ultimately is an empirical question. The empirical analysis will shed light on this important issue. References Ashbaugh, Hollis, Joachim Gassen, and Ryan Lafond, 2005, Does Stock Price Synchronicity Reflect Information or Noise? The International Evidence, mimeo Barnea, A., Guedj, I., 2009. Director networks. Unpublished working paper. University of Texas, Austin. Brown, J. L., Drake, K. D. (2013). Network ties among low-tax firms. The Accounting Review Chen, J., Hong, H., Stein, J., 2001. Forecasting crashes: Trading volume, past returns, and conditional skewness in stock prices. Journal of Financial Economics Chiu, P.-C., Teoh, S. H., Tian, F. (2012). Board interlocks and earnings management contagion. The Accounting Review Hutton, A.P., Marcus, A.J., Tehranian, H., 2009. Opaque financial reports, R2, and crash risk. Journal of Financial Economics Kim, J.B., Li, Y., Zhang, L., 2011b. CFO vs. CEO: equity incentives and crashes. Journal of Financial Economics Kim, J.B., Zhang, L., 2013. Accounting conservatism and stock price crash risk: firmlevel evidence. Contemporary Accounting Research, forthcoming Kim, J.B., Li, Y., Zhang, L., 2011a. Corporate tax avoidance and stock price crash risk: firm-level analysis. Journal of Financial Economics Kim J-B, Li Y, Zhang L. 2011b. Corporate tax avoidance and stock price crash risk: Firm-level analysis. Journal of Financial Economics Kothari SP, Shu S, Wysocki PD. 2009. Do Managers Withhold Bad News? Journal of Accounting Research Lieberman, M. B., Asaba, S. (2006). Why Do Firms Imitate Each Other? The Academy of Management Review Malmendier U, Tate G. 2005. CEO Overconfidence and Corporate Investment. The Journal of Finance Newman, M. (2010). Networks: an introduction: Oxford University Press Omer, T. C., Shelley, M. K., Tice, F. M. (2014). Do director networks matter for financial reporting quality? Evidence from restatements. Singh, P. V., Schonlau, R. J. (2009). Board Networks and Merger Performance.

An investigation of neutralization reactions Essay -- GCSE Chemistry C

An investigation of neutralization reactions Aim Question : What is the effect of changing the concentration of an alkali, on the volume of acid needed to neutralise it, when acid is added to it? The plan is to use two acids (Hydrochloric & Sulphuric) and one alkali (Sodium Hydroxide). The reason I need to use two acids is; because the question applies to all acids and alkalis and to just use one of each would not enable me to come to a general conclusion. If there had been more time available, ideally I would have preferred to use two alkalis as well as two acids. Predictions First of all, here are the definitions for an acid and an alkali: An acid is a substance that forms hydrogen (H+) ions when placed in water. It can also be described as a proton donor as it provides H+ ions. An alkali is a soluble base and forms hydroxyl ions (OH-) when placed in water. It can be called a proton acceptor because it will accept hydrogen (H+) ions and form H2O. A Hydrochloric acid molecule (HCl) will release one H+ ion and one Cl- ion when placed in water. A Sodium Hydroxide molecule (NaOH) will release one Na+ ion and one OH- ion when placed in water. This means that one molecule of NaOH and one molecule of HCl will neutralise each other and produce H2O and a neutral salt called Sodium Chloride (NaCl). This means that to neutralise HCl and NaOH when they are at the same concentration, you need equal amounts of each. GRAPH On the other hand, a Sulphuric Acid molecule (H2SO4) will release two H+ ions and one SO4-- ions. This means that you need two molecules of NaOH to neutralise one molecule of H2SO4 and produce the neutral salt Sodium Sulphate (Na2SO4). This means ... ... in the following ways : * Instead of using Universal Indicator, I would use an indicator which only changed colour when the solution was Neutral rather than gradually changing as the pH became lower (e.g. Methyl Orange or Phenolphthalein). * To get the pH more accurate next time, a pH meter could be used. * To get it very accurate, the acids and alkalis supplied should be an exact amount (I am not sure whether the ones I used were exact). * To use very recently distilled water, because the water will become acidic if left for a long time. References Books Dunstan, S. 1968. Principles of Chemistry. Van Nostrand Reinhold  · Pages 187-88  · Pages 215- 253 McDuell, B. 1997. GCSE Chemistry Classbook. Letts  · Pages 171-72  · Pages 28-32  · Page 262 Computer programs Microsoft Excel Version 97 Microsoft Word 97 Paint Shop Pro 4

Venezuela- The Age of Exploration :: essays research papers

Bolivarian Republic of Venezuela 1.  Ã‚  Ã‚  Ã‚  Ã‚  Venezuela 2.  Ã‚  Ã‚  Ã‚  Ã‚  Located on the continent of South America 3.  Ã‚  Ã‚  Ã‚  Ã‚  25,017,387 (estimated as of July 2004) 4.  Ã‚  Ã‚  Ã‚  Ã‚  Size- 912,050 sq km (land/water) 5.  Ã‚  Ã‚  Ã‚  Ã‚  Petroleum, natural gas, iron ore, gold, bauxite, other minerals, hydropower, diamonds 6.  Ã‚  Ã‚  Ã‚  Ã‚  96% Roman Catholic, 2% Protestant, 2% Other Religions   Ã‚  Ã‚  Ã‚  Ã‚  The Venezuelans were tracked back to about 13,000 BC. The settlers of that time came from three different directions. Present day Guyana, present day Brazil, and present day Antilles were the three directions. At the time there are about 500,000 indigenous peoples living in Venezuela. There was much diversity in the different tribes that settled there during this time. Religion has always been dominated by the Catholic faith. Some Venezuelans of the time had been farmers, hunters, and fishermen. The name â€Å"Venezuela† was given and the literal translation is â€Å"Little Venice.†   Ã‚  Ã‚  Ã‚  Ã‚  Venezuela was rich with grasslands and had six navigable rivers. There were many streams that also ran through the country. Mountainous areas also were abundant in the Venezuelan countryside. Venezuela has a very tropical climate. It is also rich in mineral resources. The country’s most important resource is petroleum. They are also known for their abundance of diamonds and gold which are found in the mountains.   Ã‚  Ã‚  Ã‚  Ã‚  Christopher Columbus first sighted the coast of Venezuela in 1498. In 1499 Spanish explorer Alonso de Ojeda followed that same coast to Lake Maracaibo. He was the one who named the region Venezuela because it reminded him of the buildings in Venice. The Spanish had started to settle in Venezuela in 1520. In 1528, Charles V of Spain gave the part of Venezuela that lied between Cape Vela and Maracapana to the Weslers, Bavarian bankers to whom he owed money to. The Weslers were to fill and develop the region as part of the arrangement with Charles V. They were also to set up establishments to live. Instead, their representatives enslaved the Native Americans of the area and so demoralized the European settlers that in 1546 the Spanish government revoked the grant and reassumed control. The first important settlement in Venezuela was that of Caracas which later the capital of this country became. It was settled in 1567.   Ã‚  Ã‚  Ã‚  Ã‚  The economy and its activities in the colonial period centered on agriculture, mainly tobacco and cacao. Some livestock were also traded amongst the people. Venezuela became the center of piracy and illegal smuggling, things both of which the English and the Dutch were the most notorious participants in. Venezuela at the time of colonization operated under a number of administrative jurisdictions.

Bulimia Nervosa and Antidepressant Drugs :: Causes of Bulimia, Eating Disorders

Bulimia Nervosa and Antidepressant Drugs WHAT IS BULIMIA NERVOSA? Bulimia nervosa afflicts mostly women (about 6% of adolescent girls, and 5% of college women). Most individuals with bulimia engage in compensatory activities such as vomiting, laxative abuse, strict dieting, and vigorous exercise (Alexander). PRIMARY SYMPTOMS OF BULIMIA The primary symptoms of bulimia are recurrent episodes of binge eating and compensatory measures to purge the calories. There is an excessive influence of the importance of the body and weight on one's self-evaluation (Negri). Symptoms of bulimia can be quite invisible because the bulimic can maintain normal weight. Occasionally, patterns of behavior may signal a problem: Do they restrict certain food? Do they eat in a ritualistic way? Are they overly concerned with diet? Do they weigh themselves every day? Do large quantities of food disappear from the refrigerator? Do they visit the bathroom soon after meals or frequently? (Negri). Some bulimics have a telltale scar on the first two knuckles of their hand from inducing vomiting. Some purge themselves up to several times a day. This can lead to serious medical consequences: dental cavities, electrolyte imbalances, disturbances in heart rhythm and dangerously low blood pressure (Negri). ANTIDEPRESSANTS AND THE TREATMENT OF BULIMIA Psychiatrist Linda Gochfield, who teaches brief psychotherapies to mental-health professionals, maintains that if people have a problem that responds to medication, that can be the briefest and most effective therapy of all (Davis). While bulimia often occurs with comorbid mood disturbances, the treatment benefit found for antidepressants in bulimia may not be merely alleviation of depressive symptoms; the increased serotonin levels also help reduce food intake. Looking at results of 14 studies of treatment of bulimia with antidepressants, it has been noted that administration to bulimics agents that increase the availability of serotonin virtually always produces better results than placebo, regardless of the presence or absence of depression (Alexander). There is now compelling evidence from double-blind, placebo-controlled studies that antidepressant medication is useful in the treatment of bulimia nervosa. What is less clear is which patients are most likely to benefit from antidepressant medications and how to best sequence the various therapeutic interventions available. The utility of antidepressant medications in bulimia nervosa has led to their evaluation in binge eating disorder. The limited information currently available suggests that antidepressant treatment may be associated with a reduction in binge frequency in obese patients with binge eating disorder, but does not lead to weight reduction.

Scenario Solution

Scenario Solution Jennifer Hinkley HSM/220 November 20, 2011 Ruth Anne Ristow Axia College of University of Phoenix More and more students are dropping out of high school each year. The need to obtain the funds to open up programs that will make sure that these former students can gain the educational skills they need for their future careers. Having an education will ensure that careers is kept. The plan will take a lot of work, understanding, and communication from all parties. The students, educators, and the community are the main parties’ involved. There can be a plan formulated to find the means for these drop-outs to step up to the challenge and gain enough information and confidence to find a job and to hold down that job successfully. It will not be easy to design the format of these informational programs or to raise the funds to do it. We can, however, organize the program formats in several ways. We can divide the work into departments that will help employees the importance of focusing on their assigned work without being distracted by other aspects of the large project. The first step will be to assemble a team of personnel whom focuses their efforts on advertising. This step is crucial to make sure that the students who need help will hear the message implied. The next step in the program would be to get the students enrolled. It might be difficult to make sure that they believe that their efforts, and ours, but counselors will be there to show them that it is for a valuable purpose. In general, high school drop-outs have demonstrated that they are not that motivated to continue their education. Because of this, another team of personnel will be there to ensure that the returning students understand that a high school education and the associated skills are the best route to a respectable job. One disadvantage of this departmental approach is that the organization might lose track of an individual student who was brought into the program. In the event this happens, it might demoralize and de-motivate a student who thinks that they are being treated as if they are â€Å"special. † However, it may turn into an advantage as well. As the students meet many new people who want to help them, it will begin to boost their self-esteem and their sense of self-worth. The feeling of importance and the realization that many people actually care about their future helps tremendously as well. In the event any of the mentioned issues occur, there will be long-term mentors available to the students so that they do not get lost in the educational process. A group of personnel will also be designated for long-term mentorship of these students. The departments may be divided, but they are also a team that is all working towards the same goal. This is a sure way of increasing teamwork within the organization. With each employee working within their own department that they are specialized or certified in, then reporting back to the team, teamwork will grow throughout the organization. Teamwork is an asset for the foundation by itself, but each person can also build on what another has to say by contributing their own thoughts and experiences. Overall, everything will improve. This includes the students, the organization, and the future cooperate world. The matrix organizational form is also worth considering for the organization. In this organizational form, employees are divided into their skills. For example, within our program created for the drop-out students, some employees may be better at advertising and promoting. Some may be a â€Å"people-person† who are easy to talk to and get along well with other people. Then there are some employees that are good with numbers, math, and logistics. The group that is gifted with advertising and promoting would go into the community to contact and recruit drop-outs, so that they know about and can use our program. Advertising is important, because these drop-outs might not be motivated to do much educationally. Charismatic and excitable kinds of people are needed who can encourage the drop-outs along and motivate them when they falter. Our â€Å"people-persons† would be the employees who would mentor individual students. Finally, the personnel whom are talented with numbers and math would cope with the program budget, finances, supplies, and scheduling. Coming up with the excitement to recruit these students is not the only difficulty that is faced. The competition that is out there that offers available, low-skill jobs will give the drop-outs a sense that our services are not needed. This creates a problem for the organization especially with the jobs that do not require an education to be employed there. These jobs are in fast food, manual labor like landscaping, and domestic work. These companies usually do not require a high school education and they often prefer to hire unskilled, low-wage workers. To compete with these operations, the organization should pass out fliers or brochures near the companies, businesses, and neighborhoods that are employing these high school dropouts. Even a few posted fliers in local assistance offices may help. To make sure that these fliers are effective, the organization will have a design team from the marketing department. The design team will design, create, and print pamphlets, fliers, brochures, and other information about the organization. To compete with these low-educational, low-skill jobs, the main goal is to have a plan to make the students think about wanting more in their lives. They might want a more fulfilling job, a better ability to care for their family, or a better income in the future from a better-paying job. The community would have to supply some of the organization's financial needs. A good example is having a place to hold meetings. Meeting outdoors can be productive and fun so that idea does not need to be eliminated. Once a week, instead of paying for a meeting place, a community outreach program can be held at a local park. This provides space, seating, and opportunity. Drop-out students and even their families and friends could meet each other along with possible and current recruited students. This provides open communication about the program as well as an opportunity to answer any questions the public may have. This allows time to share information and just have a fun time outside while learning about the organization. Some community members might not be supportive of our program, as it would use city money to help drop-outs who, they will argue, should have just stayed in high school and gotten the same results for less money. They will ask questions like: Since the government guarantees free high school education for every student, why should we pay money for this new program when their education should have been free to these students in the first place? In counterpoint, an explanation will be given. This explanation is that local schools are losing government funds from the increasing drop-out rate, and in turn the drop-out rate continues to rise. The program does not encourage more students to drop out, but only help students who already have. It will revitalize the education system by driving home the point as to how important a continuing education is to a student and a citizen. For the program to reach its goals, all of the possible foundation employees will need incentives to do their best. So that all of the employees are working at their top level, incentives and reward systems will be created. The employee who is most successful at recruiting drop-outs into the program, for example, will be rewarded. The employees, rather than the manager, will determine who receives the rewards and what they should be. For example, a manager might decide to give an employee a personal reward of funds to take a few over achieving students to dinner. This only provides ample opportunity to continue to motivate and congratulate the students on their progress. There are many ways that upper management can reward employees for helping the foundation, but the best rewards are the ones that employees want. A survey of the employees to find out which rewards would motivate them the best might be a great way. When the organization has met the original goals of the program, the employees who have contributed the most will also be rewarded. This will motivate employees to strive to reach the foundation's goals. Making goals stimulates personal drive, and it will make foundation employees push themselves harder to achieve the most that they can for themselves and for the organization. The program and the goals in its entirety can be reached, but not without a proper budget. The accounting department along with the human resource department will get together every year to create a budget for the organization itself and the program in which they offer. A line item budget shows the total agency budget. It obtains the number in which the organization cannot go over. It is broken down to how much employees are paid as well as the cost of operating. Another budget needed for the organization to operate successfully is a budget for each person in the organization. This includes skills needed, time spent on training, and a reakdown of what can be spent on each student. With all of the time, energy, and good resources, the organization will reach its goals of helping high school dropouts to obtain their diplomas. This organization is for the good of mankind and what can be done to help others in need. This also creates a chance that returning students will encourage their offspring to continue in their education as well to help the number of overall dropouts to decrease. Line Item Budget Revenue $1,600,000 Expenses Personnel Executive director $100,000 Training supervisor $80,000 Trainers $500,000 Administrative coordinator $45,000 Administrative staff $75,000 Total salaries and wages $800,000 Employee-related benefit$200,000 Expenses @ 25% Operating expenses Rent $125,000 Overhead costs$100,000 Utilities $100,000 Office supplies $25,000 Equipment/lease $50,000 Transportation and travel $100,000 Outside consultants $100,000 Total operating expenses $600,000 Total agency budget $1,600,000 Budget for each person Local government workforce agency—functional and program budget 1 2 3 4 Basic skill Outreach Indirect Total rogram program cost and functional overhead budget Expenses Personnel Executive director $100,000 Training supervisor $80,000 Trainers $300,000 $200,000 Administrative $27,000 $18,000 coordinator Administrative staff $45,000 $30,000 Total salaries and $372,000 $248,000 $180,000 wages Employee-related $93,000 $62,000 $45,000 benefit expenses @ 25% Total personnel costs $465,000 $310,000 $225,000 Operating Expenses Rent $75,000 $50,000 Overhead costs $60,000 $40,000 Utilities $60,000 $40,000 Office supplies $15,000 $10,000 Equipment/lease $30,000 $20,000 Transportation and $60,000 $40,000 travel Outside consultants $60,000 $40,000 Total operating $360,000 $240,000 expenses Total agency budget $825,000 $550,000 $225,000 $1,600,000 Number of eligible 1,000 1,000 1,000 students Total budget need per $825 $550 $225 $1,600 eligible student References Ashford, E. 2011, November 11). Helping high school dropouts get on a college, career track. Retrieved 11 16, 2011, from Community College Times: http://www. communitycollegetimes. com/Pages/Campus-Issues/Community-colleges-play-a-key-role-in-dropout-recovery. aspx Haskins, D. B. (2010, Spring). The Future of Children. Retrieved 11 16, 2011, from http://futureofchildren. org: http://futureofchildren. org/futureofchildren/publications/docs/20_01_PolicyBrief. pdf Kettner, P. M. (2002). Achieving Excellence in the Management of Human Services Organizations. Allyn and Bacon.