Tanzanias Climate Essay -- Tourism Africa Global Warming Environment

Tanzania's Climate Tanzania speaks to an abundance of environmental decent variety, ethnic assorted variety, and geological assorted variety. It contains both the tallest mountain in Africa just as the biggest lake, and is a vacationer hotspot for safaris and endeavors to Mt. Kilimanjaro. The residents of Tanzania are completely subject to the climate for their two significant organizations, agribusiness and the travel industry. In this way, the atmosphere of Tanzania merits looking at in more noteworthy detail. Tanzania has two unmistakable seasons, wet and dry. Notwithstanding, the northern area of Tanzania can encounter two wet seasons, the longest of which ranges from March to May and the most limited from November to December. The March to May period is known as â€Å"the long rains†, during which over the top precipitation happens. The shorter period from November to December is known as â€Å"the short rains†, where precipitation happens irregularly and may last into January. The remainder of the nation encounters one wet season from November to May. Since Tanzania is situated in the Southern half of the globe, December to March can be considered the country’s summer, and June to September its winter. The seasons are â€Å"in certainty the change between the two fundamental exchange wind frameworks which command at various seasons; the northeasterly exchanges among December and March, and the southeasterlies among June and September† (Sumner 53-66). Brought about by the profoundly cyclic climate examples of the intertropical combination zone, these exchange winds are the primary factor in deciding the difference in seasons and are abetted by the very geology of Tanzania. The progression of air over the East African level causes the arrangement of the Southerly Jet which thusly manages the Indian rainstorm season. The stream streams in corresponding to Ta... ...doesn't look good for its occupants. In the event that medicinal measures are not taken, Tanzania’s economy and personal satisfaction will endure extraordinarily sooner rather than later, and we as a planet will endure more noteworthy results in the far future because of the rising temperature of the Earth. Works Cited: Alverson, Keith, et al. A Global Paleoclimate Observing System. Science 293.5527 (2001): 47-8. Nieuwolt, S. Rainstorm Distributions in Tanzania. Geografiska Annaler.Series A, Physical Geography 56.3/4 (1974): 241-50. Sumner, G. N. Day by day Rainfall Variability in Coastal Tanzania. Geografiska Annaler.Series A, Physical Geography 65.1/2 (1983): 53-66. Zhou, Guofa, et al. Relationship between Climate Variability and Malaria Epidemics in the East African Highlands. Proceedings of the National Academy of Sciences of the United States of America 101.8 (2004): 2375-80.

FINAL CHAPTER free essay sample

This examination would not be conceivable without those people that gave them help and direction in the arrangement and fruition of this exploration. To the respondents, the Grade 8 understudies of Page-as National High School particularly to their Class Adviser Mrs.. Sherry B. Sardinia, thank you for your time, information, data and exertion that they have given during the study. It is our pleasure to have you as respondents. To Ms. Xenia M. Madagascar our subject educator, we express gratitude toward her for her good thoughts, remarks, tolerance and comprehension during the research.To the entirety of the references, that was really valuable for the beginner scientists. It filled in as a guide that adequately showed the specialists on the most proficient method to think of their own contemplations and thoughts. To the specialists loved ones, thank you such a great amount for the nonstop help, direction and for the unfailing affection and just as for the money related help that was genuinely required all through the examination. Or more all to our Almighty God, for giving them shrewdness, quality, assurance and gifts presented to them for this investigation to be conceivable. To God be the glory.CHAPTER 1: THE PROBLEM AND ITS BACKGROUND Faced with harder financial rivalry and stressed over the aptitudes of things to come work powers, the administration lead by the President of the Philippines and his Department of Education Secretary are attempting to associate instruction room preschool through post-auxiliary so more understudies are set up for additional investigation and work. In October 5, 201 0, the ongoing project on Philippine Education as a major aspect of President Benign Info Aquinas Oils Educational Reform Program was the organizing of the K-12 Education plan.The Pony Administration accepts that adding more years to fundamental instruction in the Philippines could help take care of the issues of joblessness, keep with worldwide gauges, and help Filipino understudies to have more opportunity to pic k the vocation that best suits their abilities. Mentally, the short instruction program influences human arrangement of the Filipino kids. A Filipino is legitimately a kid before the individual turns 18 years of age. Clinicians and instructors state that youngsters under 18 are commonly not genuinely arranged for business or work or advanced education disciplines.Commonly, Grade six understudies graduate at the age running from 11-13 years of age, and fourth year secondary school understudies graduates at the scope Of 15-17 years of age. In this manner, these students are as yet considered kids and they are not competent to deal with major circumstances like dynamic and work task. In the Philippines, there is a returning practice which is called, Honing as Bung, which means an organic product which was taken from the storage compartment of the tree.The matured natural products which were taken from the storage compartment of the tree are all the more sweet and delicious contrasted with natural products which were taken early. The objective of the K-12 Basic Education Program is to make practical fundamental instruction framework that will deliver profitable and capable residents outfitted with the basic capabilities and aptitudes for both deep rooted learning and business. This program will improve the fundamental training framework to full usefulness to satisfy the essential adapting needs of students.This is in accordance with the motivation of the President Aquinas of having quality instruction as a drawn out answer for neediness, so as to accomplish these objectives. The program has the accompanying twin destinations: To give each understudy as chance to get quality instruction dependent on an upgraded and decongest educational plan that is universally perceived and practically identical; Develop an educational program that is levelheaded and center around greatness; Produce a pool of exceptionally qualified and satisfactorily prepared instructors; Achieve high scholarly principles, particularly in Mathematics, Science and English at all levels;Produce graduates who are all inclusive serious and whose qualification are perceived globally; To change open observation that secondary school training is only a groundwork for school; rather, it ought to permit one to make the most of chances for beneficial vocation or work and additionally independent work in a quickly changing and progressively globalizes condition; Produce graduates who have abilities and capabilities that will permit them to be profitable individuals from the general public or seek after advanced education; through coordination between the scholastic and business divisions, to change industry ring rehearses into account the improve aptitudes and skills of K 12 alumni. Source: Discussion Paper, 2010) The analysts are third year understudies of De La Sale college Dissimilar taking up BBS in Office Administration major in Office Management and as of now in the second semester of their third year. The examination was directed in the Academic Year 2014-2015. They are leading an exploration to decide the degree of attention to the Grade 8 understudies in their new K-1 2 educational program. The scientists believed this issue to be applicable, in light of the fact that it will truly let the specialists decide level of attention to the evaluation 8 imprints in their new educational program. They have chosen to make commitments to this issue and propose suitable approaches to improve their demeanor towards the subjects.Statement of the Problem The reason for this examination is to decide the degree Of familiarity with the Grade 8 understudies of Page-as National High School in the new K-12 educational program in the Philippines for Academic year 2014 2015. All the more explicitly, this exploration study looked for answers to the accompanying inquiries: 1 . What is the profile of the Grade 8 understudies respondents during the AY 2014-2015 as far as: a. Name b. Age c. Sex(M/F) d. Nationality . Lasting/Present Address f. Guardians Educational Attainment g. Control of Parents h. Salary of the Family 2. What is the normal the degree of familiarity with the Grade 8 understudies dependent on the discoveries of the scientists as indicated by the review directed? 3. What are the realizing evaluation of the evaluation 8 understudy respondents during the SYS-2014-2015?Statement of the Research Objectives This examination study plans to decide the degree of trouble in subjects and the normal variables causing scholastic challenges among second year BOOM understudies of De La Sale University-Dismissals. Coming up next are the exploration goals. 1. To recognize what is the degree of consciousness of the Grade 8 Students of PANS about their new educational plan. 2. To know the basic reasons what will be the effect of the new educational program in the Grade 8 Students. 3. To help our kindred understudies to improve their evaluations and change their disposition towards another educational program. 4. To recognize the scholarly learning challenges and the psychological degrees Of understudies and some related factors.Conceptual Framework Independent Variable Intervening Variables Figure 1. 0 Dependent Variable Figure 1. 0 represents all the factors that are found in the examination. The swinging variable decided is the Assessment of the Grade 8 understudies in the degree of familiarity with K-1 2 educational plan. The autonomous variable dictated by the analysts is the subject of the understudies in their new K-1 2 educational plan. Furthermore, finally, the segment/interceding factors which was controlled by the specialists were the respondents profile, name, age, sex (M/f), nationality, lasting/present location, guardians instructive accomplishment, guardians occupation and pay of their family.This study will attempted the review of the degree of consciousness of the Grade 8 understudies of Page-as National High School in the new K-12 educational program n the Philippines for Academic year 2014 201 5, who didn't encountered the old educational plan program in the Philippines in the earlier year. The extent of this examination just covers the particular subjects taken by the Grade 8 understudies during their Grade 7 as recommended in their educational program. This examination likewise incorporates the predetermined reasons and factors that influence the scholarly consciousness of the respondents, including the issues of the understudy himself, the educator/counselor instructional strategies and the natural com ponents. Specialists The analysts have focus on this examination study, reason for its huge significance in the learning procedure and improvement of the Grade 8 students.Determining the degree of consciousness of the Grade 8 understudies in the new K-1 2 educational plan in the Philippines, the scientists will have the option to dissect and decipher the aftereffect of familiarity with the Grade 8 understudies and how it will influence in their investigation. This specific investigation appears to be so pertinent, in light of the fact that it will permit the analysts and the understudies too, to assess the fundamental elements of the new K-12 educational plan program in the Philippines. The data that will be assembled in this exploration will assist the types with coping up in the new K-12 program, so they will have the option to modify in certain adjustments in their condition. Instructors This alludes to proficient educator who took the multi year course program of Bachelor of Science in Secondary and Elementary Education. In this investigation, they are the instruments in the metallization of the legislature instructive programs.Through the usage of K 12 projects numerous schools will employ more educators to provide food the understudies needs. SCHOOL ADMINISTRATOR will pick up bits of knowledge with regards to what measures are suitable to enable the educators to situate the two understudies and instructors in regards to he K-12 program. PACE-AS NATIONAL HIGH SCHOOL This is the place the consequences of this examination will fill in as reference in the metallization of the Department of Education (Doped) program especially the K 12. Network for they additionall y assume an imperative job in the improvement of each student. The school is a piece Of the network so every guardians of the student must realize what the issues of the school are. With the goal that they will comprehend what's going on and what is the acceptable answer for that problem.EXTERNAL STAKEHOLDERS This alludes to the graduated class, guardians, nearby pioneers, resigned te

Why Its Important to Read Beowulf

Why Its Important to Read Beowulf In the film Annie Hall, Diane Keaton admits to Woody Allen her enthusiasm for going to some school classes. Allen is strong, and has this bit of counsel: Just dont take any course where you need to understand Beowulf. Indeed, its amusing; those of us who, by scholarly interest, have crashed through books written in different hundreds of years know exactly what he implies. However its dismal that these old artful culminations have come to speak to a type of academic torment. Why trouble in any case? you may inquire. Writing isnt history, and I need to realize what really occurred, not some anecdote about ridiculous legends who never existed. Notwithstanding, for anybody really inspired by history, I think there are some legitimate motivations to trouble. Medieval writing is history a bit of proof from an earlier time. While the tales told in epic sonnets can infrequently be taken for undeniable reality, every little thing about them represents the status quo at the time they were composed. These works were ethical quality pieces just as experiences. The legends exemplified the beliefs to which knights of the occasions were urged to endeavor, and the lowlifess performed activities they were forewarned against and got their comeuppance at long last. This was particularly valid for Arthurian stories. We can gain much from looking at the thoughts individuals had then of how one should carry on which, from numerous points of view, resemble our own perspectives. Medieval writing additionally furnishes current perusers with charming pieces of information to life in the Middle Ages. Take, for instance, this line from The Alliterative Morte Arthure (a fourteenth-century work by an obscure writer), where the lord has requested his Roman visitors to be given the best facilities accessible: In chambers with chimpnees they changen their weedes. When the mansion was the stature of solace, and all the palace society rested in the primary corridor to be close to the fire, singular rooms with heat were indications of incredible riches, to be sure. Peruse further in the sonnet to discover what was viewed as fine food: Pacockes and plovers in platters of gold/Pigges of pork despine that fed never (piglets and porcupines); and Grete swannes full swithe in silveren chargeours, (platters)/Tartes of Turky, taste whom them loves . . . The sonnet proceeds to portray an extravagant gala and the best flatware, all of which thumped the Romans off their feet. The presumable prevalence of enduring medieval works is another motivation to consider them. Before they were set to paper these stories were told by many minstrels in court after court and a great many mansions. Half of Europe knew the stories in The Song of Roland or El Cid, and everybody knew at any rate one Arthurian legend. Contrast that with the spot in our lives of mainstream books and movies (attempt to discover somebody who never observed Star Wars), and it turns out to be certain that every story is in excess of a solitary string in the texture of medieval life. How, at that point, would we be able to disregard these scholarly pieces when looking for reality of history? Maybe the best explanation behind perusing medieval writing is its climate. At the point when I read Beowulf or Le Morte DArthur, I feel as though I realize what it resembled to live back then and to hear a minstrel recount to the narrative of an extraordinary saint vanquishing an abhorrent adversary. That in itself merits the exertion. I comprehend what youre thinking: Beowulf is so long I couldnt potentially finish it in this lifetime, particularly on the off chance that I need to learn Old English first. Ok, yet luckily, some chivalrous researchers in years past have accomplished the difficult work for us, and have interpreted huge numbers of these works into current English. This incorporates Beowulf! The interpretation by Francis B. Gummere holds the alliterative style and pacing of the first. What's more, dont feel you need to peruse each word. I realize a few conventionalists would flinch at this proposal, however Im recommending it at any rate: take a stab at searching for the succulent bits first, at that point return to discover more. A model is where the beast Grendel first visits the lords lobby (area II): Found inside it the atheling bandasleep in the wake of devouring and brave of sorrow,of human hardship. Unhallowed wight,grim and voracious, he got a handle on betimes,wrathful, wild, from resting-places,thirty of the thanes, and thereupon he rushedfain of his fell ruin, faring homeward,laden with butcher, his nest to look for. Not exactly the dry stuff you envisioned, right? It shows signs of improvement (and progressively frightful, as well!). So be as courageous as Beowulf, and face the fearsome tales of the past. Maybe youll end up by a thundering fire in an extraordinary lobby, and hear inside your head a story told by a troubadour whose similar sounding word usage is far superior to mine.

Impact Of Corporate Governance On Firm Performance Among Listed Comanies Of Pakistan - Free Essay Example

In recent past researchers show their interests in the field of corporate governance due to some reasons. It is due to financial recession and eruption of US scandals to protect the stakeholders interests. Such as the interests of investors, shareholders, and management and for the well being and survival of the firm. Good corporate governance leads to protect the interests of the shareholders. Corporate governance is the system by which companies are directed and controlled. Boards of directors are responsible for the governance of their companies (Code by SECP, 2002, p.9). Corporate governance normally means that outside rules and regulations and inside structure that are planned to reduce the agency problem and is the system by which companies are directed and controlled (Cadbury Committee, 1992, p. 15). Effective corporate governance ensures that firms try to reduce the losses and costs and maximizes the benefits for the stakeholders. Good quality corporate governance is based on the codes of accountability, transparency, justice and liability in the management of the company (Ehikioya, 2009). Corporate governance problems arise due to the following reasons. Separation of ownership and control leads to agency problems. Separation of ownership and control may lead to conflicts of interests among managers and owners. Managers may run the business to serve their own interests. Shareholders must compensate them financially to save their own interests, and to reduce additional costs incurred to monitor their activities to reduce agency costs. One of the most important factors of corporate governance which received much attention and requires reforms is the board of directors structure. A board of directors is a panel with tasks of leading, controlling and directing the administration of the company, with prime purpose to perform their jobs as the benefit of the firms owners. For effective governance, many researchers recommend the active participation of independent directors. Literature tells us independent board of directors is best to serve the interests of the owners. Leadership factor is also very important in the corporate governance. There are two major types of leadership structure (lee Lam, 2007). Leadership by the top management is very important while by the CEO it is also an effective one. CEOs have varying degrees of influence over the board in different firms structure and corporate environment. There are different types of corporate structures across the world. First CEO is the leader having both positions called CEO duality (duality structure) i.e. CEO as well as chairperson of the board having power to influence the board. CEO duality has been the dominant board leadership structure of US corporations, in which 70 percent-80 percent of them combine the roles of chief executive officer (CEO) and chairperson (Rechner and Dalton; Rhoades et al as cited in lee Lam, 2007). While the non-duality means both positions are held by separate persons. In non-duality leadership structure chairperson is the leader and CEO has no power to influenc e the board. The current study investigates the association among corporate governance characteristics and firm performance in Pakistan; it differs substantially from the other developing countries. Pakistan is a politically worried and unbalanced area of the world, has distinctive environmental characteristics. Additionally, Pakistan is a strict Islamic country. As a result, its societal and trade activities are based on fundamentalist spiritual laws and regulations. Chaudhry and Hoque (2006) argue that most important governance of the Islamic firm is by its direction toward the pattern of behavioral likings basis on the systemically natural sense of union of information by persistent relational association. The corporate governance are beached on such a perception of combining interrelationships involving the Islamic business and its inner and outer environing factors, via the strong set of Shariah mechanism that allow the corresponding relations to be recognized and achieved. The evolution of the Pakistani corporate entities has, historically, closely followed the path taken by English corporate entities. In 1984, the Companies Ordinance 1984 of Pakistan was promulgated, following lengthy debate; Pakistani companies were established and governed in accordance with the provisions of the Companies Act, 1913. (Code by SECP, 2002). Pakistani firms have different structure to the developed countries. About 80% of all scheduled businesses on the Karachi Stock Exchange have relatives participation or ultimately allied to a big business relatives (zaidi aslam, 2006). This paper will follow following sequence (i) related corporate governance literature review (ii) methodology, sample data, models, and variables (iii) analysis (iv) empirical Results and discussion (v)conclusion of the study. Literature review Corporate governance is the course of action and composition through which a firms dealing and affairs are administered by enhancing business wealth and corporate accountability with the final aim of improving shareholders wealth (Mir and Nishat, 2004).A clear implementation of corporate governance assists a firm to magnetize investment, increase funds, and strengthen the base for firm performance (Ehikioya, 2009). Corporate governance major focus is on resolving agency problems. Agency problems are also called principal-agent problems. Shareholders (principal) are looking the ways to make sure the management (agent) grips on their funds in an approach to increase their wealth and firm performance. Corporate governance composition has an influence on firm performance (Ehikioya, 2009; Shaheen nishat, 2005). Research findings tell that the relationship among the different corporate governance factors and firm performance either can be positive, negative or none. Weir and Laing (2001) and Ponnu (2008) found that there is no obvious association among corporate governance and firm performance. Corporations are like republics. The final right rests with voters (shareholders). These voters elect representatives (directors) who assign most decisions to bureaucrats (managers). As in any republic, the actual power-sharing relationship depends upon the specific rules of governance. One extreme, which tilts toward a democracy, reserves little power for management and allows shareholders to quickly and easily replace directors. Corporate governance improvements are continuously happened in the world to improve the firm performance. There were different reforms regarding the different issues of corporate governance such as board composition, board size, CEO duality, ownership concentration, firm size and leverage. For decision making the corporate governance literature recognizes a range of diverse jobs of boards of directors (Zahra and Pearce, 1989; Gopinath et al., 1994; McNulty and Pettigrew, 1996; Hung, 1998; Maassen, 1999 as cited in Kakabadse, Kakabadse and Kouzmin, 2001). Board composition may be lead to recover the principal-agent problem. The involvement of outside independent directors can improve the firm performance itself against the outer pressure and use the firm resources to increase the wealth of the shareholders. It is very interesting that the research evidences are varied about the relationship among the outside independent directors and firm performance. Petra (2005) argues that the variation in results may be the variation of a company culture. There is positive link among outside independent directors and firm performance (Petra, 2005; Perry shivdasani, 2005). Laux (2005; Byrd, Cooperman Wolfe, 2007) argue that outside directors are more important to the owners of the firm. This positive relationship shows that directors are performing their duties honestly to protect the interests of shareholders. Some researches support the negative relationship among outside directors and firm performance (klein, 1998; agrawal knoeber 1996 as cited in Abdullah, 2004; yermack, 1996). Ponnu and KarthigeLam (2010) found that there is no positive clear impact of board independence on firm performance. However, it is clear from empirical evidence that independent directors perform significant role with firm performance, either positive or negative. So on the basis of above discussion we hypothesize that H1: Proportion of independent directors has significant impact on firm performance. Another feature of corporate governance that has got the attention of the researchers is the leadership structure. Discussion revolves around the duality, means that CEO is also holding the additional post of the board chairmanship. There are two theories regarding this issue (1) agency theory (2) stewardship theory (Lam lee, 2007). Agency theorists fight for the separation of the two posts to grant vital monitoring over managements performance. If not, a single person sharing both posts will dictate the board and it is generally the indication of a dominant CEO leadership. On the other hand, stewardship theorists argue that the separation of posts is not vital, because many firms are performing well with combined posts and have powerful boards fully competent of providing sufficient monitoring. Additionally, when the posts are combined, the CEO may be able to form the corporation to attain its affirmed objectives due to less hindrance. Literature does not suggest which leadership structure is best, either duality or unitary (single person holds single post). Research empirical evidences on CEO duality and firm performance are contradictory. Petra (2005) argued that conflicts of interests happened due to the dual leadership structure. CEO is in self evaluating position in dual leadership structure. If firm is adopted dual leadership structure, CEO may serve his own interests on the expense of shareholders and their interests may be compromised (noel, 2009). Petra and Dorata (2008) argued that CEO can make the decisions objectively short term for his own interests by compromising on the long term objectives in dual leadership structure. Alternatively firm performance is negatively affected if CEO duality exists in firm corporate leadership structure. Lam and Lee (2007) examine the relation between CEO duality and firm performance in Hong Kong. They found that neither agency theory nor stewardship alone significantly explain the duality performance relationship. Their empirical evidence tells that CEO duality has negative relationship with performance of the firm but insignificant for the whole data. They also found that CEO duality and accounting performance are negatively related for family controlled firms, while it is positively related for non family controlled firms. There is an inverse impact of CEO duality on firm performance (Ehikioya, 2009; Mir Nishat, 2004). Abdullah (2004) and Mashayekhi and bazaz (2008) found that both board independence and leadership structure do not affect the firm performance separately nor the combined effects of these two factors affect the firm performance. Dual leadership structure places CEO in powerful position of managing the operations of the firm and also overseeing the direction the firm will take into the future (Petra Dorta, 2008). So we can hypothesize that H2: Dual leadership structure has significant impact on firm performance. Another board characteristic is board size. Either large or small number of directors should be in the board. Either board size has significant relationship with firm performance or not. There are different findings of different researchers regarding board size and firm performance. The corporate governance structure such as ownership structure, board composition, board size, and CEO duality has a massive impact on a firms performance (Ehikioya, 2009). The number of directors in the board can be supposed to have a considerable effect on the firms performance because the board is having the huge responsibility for managing the firm and its operations. Some researchers suggest large board size for better corporate governance and firm performance while others suggest small board size. Raheja (2005) suggests that optimal board size and compositions are functions of directors and the firms characteristics. There may be some conflicts in larger board. The monitory expenses and poor communication in a larger board has been seen as a reason for opposing a larger board size (Lipton and Lorsch 1992). Anderson, Mansi and Reeb. (2004) suggests that firms with larger board size have the capability to drive the managers to chase for lower cost of debt and increase the performance. Ehikioya (2009) observes that ownership concentration and board size is positively related to the firms performance in three out of four cases. It means that concentrated ownership combined with finest board size tends to perform better then diffused ownership. Yermack (1996) like most of the other researchers found in his study negative relationship between board size and firm performance. Mashayekhi and Bazaz (2008) found that board size is negatively associated with firm performance. Bhagat and Black (2001) found that board size is not always in relation with the firms performance. Frick and Bermig (2009) after analyzing the effects of supervisory board size and composition on the valuation and firm performance and conclude that there is no constant impact of either board size or board composition on firm valuation and performance. Cheng, Evans and Nagarajan (2007) argue that huge information about firm and managerial performance and the changes in business atmosphere both add to the importance of rapid and effective actions by the board, while the capability of the board to make such decisions decreases with board size. They further argue that different costs like communication, co-ordination, and free riding costs increases as the boar d size increases. The benefits of these incentives are likely to be overcome by the increased costs as the board becomes sufficiently large. H3: Board size has no significant impact on firm performance. Methodology Sample and Variables This study concentrates on the corporate governance and firm performance of publically listed companies in Pakistan. Sample companies are chosen from the KSE 100 index listed during 2007 to 2009. Sample consists of 80 firms. Sample is chosen randomly from the different sectors of Pakistan economy. Non financial firms are included in the sample. Financial firms are excluded from the sample because of different capital structure and cash flows. We also excluded the firms having missing data. 15 companies are deleted from the original sample due to unavailability of the data and special capital structure. Our final sample consists of 65 firms of different sectors. Information related to these variables to measure the relationship among the corporate governance and firm performance is collected from the annual reports of the firms. The reports are collected from the kse-100 index and the respective firms website. Our study includes CEO duality, board independence, and board size as independent variables to measure corporate governance. Return on equity (ROE), return on assets (ROA) and earnings per share (EPS) are dependent variables in our study to measure firm performance. Leverage (debt/assets) and firm size (natural logarithm of total assets) are used as control variables in our study. Data Analysis We use descriptive statistics, Pearson correlation and multiple regression analysis to analyze the data. The models which are used are given below. EPSi= ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±0+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²1 BSIZEi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²2 RIDi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²3 CEDi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²4 LEVi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²5 FSIZEi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ µi -(1) ROAi= ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±0+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²1 BSIZEi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²2 RIDi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²3 CEDi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²4 LEVi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²5 FSIZEi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ µi -(2) ROEi= ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±0+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²1 BSIZEi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²2 RIDi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²3 CEDi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²4 LEVi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²5 FSIZEi+ÃÆ'Ã… ½Ãƒâ€šÃ‚ µi -(3) Where EPS in model (1) is calculated as net income divided by total number of ordinary shares of the firm; ROA is calculated as net income divided by the opening balance of the total assets in model (2); ROE in model (3) is calculated as net income divided by the total balance of total equity. BSIZE is the total number of directors on the board; RID is the ratio of independent directors on the board; CED is the CEO duality structure 1 for duality and 0 for otherwise; LEV is the leverage of the firm is the ratio of total debt to total assets; FSIZE is the firm size calculated as the natural log of total assets. Empirical Results and Discussion Descriptive Statistics Descriptive statistics in table 1 about the variables show that average number of directors in the board is 8.33, about 64% are the independent directors on the board and in 32% cases CEO is also the chairman of the board. Average leverage is 22% which shows that Pakistani firms less rely on debts; average firm size almost 16; ROE 31%; ROA 2% and EPS is Rs.11.45. All variables except Fsize have smaller meadians then their crossponding means. This shows that sample data is slightly skewed. Standard deviation of all variables is large except RID and LEV. Table 2 shows pearson corelation among the variables. RID is significantly corelated with EPS, ROE and ROA. This indicate that higher board independence has significantly positive corelation with firm performance. As the number of independent directors increase in the board the performance of the firm will be better. Our results are similar to other findings Petra (2005), Perry and shivdasani (2005) and Mashayekhi and Bazaz (2008) and inconsistent to Abdullah (2004) and Yermack (1996). This significant positive correlation shows the importance of the independent directors on the board. This indicates that there must be a sufficient proportion of outside independent directors on the board. Sufficient number of directors on the board will protect the interests of the shareholders. It also leads to better transparency in the firm ultimately firm performance will increase. CEO duality has negative and insignificant correlation with EPS, ROE and ROA. This implies that CEO duality has no significant association with firm performance. Our results are consistent with Lam and Lee (2007) and Mashayekhi and Bazaz (2008). This shows that dual leadership structure has neither positive nor negative relationship with firm performance in Pakistani companies. Board size has significantly negative correlation with ROA and insignificant correlation with EPS and ROE. Sometimes large board size negatively related with firm performance and sometime it is insignificantly related with fiem performance. This indicates that board size is not always related with firm performance (Bhagat Black, 2001). Leverage has no significant relationship with EPS, ROE and ROA. This implies that Leverage has no signifacant relationship with firm performance. Firm size has significantly negetive relationship with ROE and ROA. ROE , ROA and EPS have nosignificant relationship with each other except that ROE and ROA are positively corelated. Firm size has significantly positive relationship with ratio of independent directors (RID) and Dual leadership structure but significantly negetive association with board size. Regression Results Table 3-1, 3-2 and 3-3 show the results of regression analysis for each three dependent variables EPS, ROA and ROE separately. EPS, ROA and ROE explain 19%, 12.5% and 11.83% variations respectively. Board size is positive coefficient but insignificant values with firm performance measures (EPS t-stat= 0. 0.5511, ROA t-stat=- 2.21128 ROE t-stat= 0.234378) except ROA. It shows that board size is not always related with firm performance (Bhagat Black, 2001). This is inconsistent to H3: Board size has no significant impact on firm performance; Because ROA is showing significant impact on firm performance. Our findings are also consistent to Frick and Bermig (2009) who found no constant impact of board size on firm performance. Our findings are inconsistent with Yermack (1996) and Mashayekhi and Bazaz (2008) who found that board size is negatively associated with firm performance. Our findings are also inconsistent with Ehikioya (2009) who found that board size is positively associated w ith firm performance. Opposite to H2: Dual leadership structure has significant impact on firm performance. Our regression results do not show any significant relationship among the dual leadership structure and firm performance (EPS t-stat= -0.57958, ROA t-stat= 1.7605, ROE t-stat= 1.241707). it indicates that dual leadership structure neither positively nor negatively impact the firm performance. Our results are consistent with Abdullah (2004) and Mashayekhi and bazaz (2008) who found that leadership structure do not affect the firm performance. Table 3-1 Table 3-2 Table 3-3 There is an inverse impact of CEO duality on firm performance (Ehikioya, 2009; Mir Nishat, 2004; Mashayekhi bazaz, 2008). Our findings contradict them. H1: Proportion of independent directors has significant impact on firm performance. Our regression analysis shows positive coefficient of RID and statistically significant values of t-test for the performance measures (EPS t-stat= 3.18694, ROA t-stat= 2.8463, ROE t-stat= 2.9045). Our findings are similar to Petra (2005), Perry and shivdasani (2005) and Mashayekhi and bazaz (2008) who found positive relationship between proportion of independent directors and firm performance. This shows that outside directors are more important to the better performance of the firm. This positive relationship also shows that directors are performing their duties sincerely to defend the interests of shareholders. This result is also according to the prediction of agency theory that there is a positive relationship between outside independent directors and firm performance in Pakistan. Finally the firm size has negative and significant impact on firm performance in Pakistan. Only EPS value is insignificant. Our results oppose Mashayekhi and bazaz (2008) who found positive impact of firm size on firm performance. Leverage ratio has statistically insignificant effect on firm performance. This is consistent to Mashayekhi and bazaz (2008). Conclusion Our study investigates the impact of corporate governance on firm performance. For corporate governance measurement we use three variables Board size, dual leadership structure and Ratio of independent directors where as for Firm performance measurement Return on equity, Return on assets and Earnings per share are used and two control variables such as Firm size and Leverage are used. Our findings are similar to that of Bhagat and Black (2001) that board size is not always related with firm performance. Our findings are also consistent to Frick and Bermig (2009) who found no constant impact of board size on firm performance. This study also finds that there is a positive relationship between proportion of independent directors and firm performance. Our findings are consistent to Petra (2005), Perry and shivdasani (2005) and Mashayekhi and bazaz (2008). We find no significant relationship between dual leadership structure and firm performance in Pakistan. Our results are consistent with Abdullah (2004) and Mashayekhi and bazaz (2008). There are several limitations in the study such as time and data availability. Economic and political instability may affect the generalizability of the findings. Our results may differ from other studies due to the financial recession of near past. For future study one should use Growth ratios for firm performance and other Board characteristics for corporate governance measurement for more significant and long term results.

One Vote Can Make a Difference

The odds that one vote can make a difference in an election are almost nil, worse than the odds of winning Powerball. But that doesnt mean its impossible that one vote can make a difference. Its actually happened. There have been cases in which one vote decided the election. Odds That One Vote Can Make a Difference Economists Casey B. Mulligan and Charles G. Hunter found in a 2001 study that only one of every 100,000 votes cast in federal elections, and one of every 15,000 votes cast in state legislative elections, â€Å"mattered in the sense that they were cast for a candidate that officially tied or won by one vote.† Their study of 16,577 national elections from 1898 through 1992 found that only one had been decided by a single vote. It was the 1910 election in New York’s 36th Congressional District, won by a Democrat who claimed 20,685 votes to the Republican candidate’s 20,684. Of those elections, the median margin of victory was 22 percentage points and 18,021 actual votes. Mulligan and Hunter also analyzed 40,036 state legislative elections from 1968 through 1989 and found only seven that had been decided by a single vote. Of those elections, the median margin of victory was 25 percentage points and 3,257 actual votes. In other words, the chance that your vote will be the decisive or pivotal one in a national election is almost zilch. The same goes for state legislative elections. Chances That One Vote Can Make a Difference in a Presidential Race   Researchers Andrew Gelman, Gary King, and John Boscardin estimated the chances that a single vote would decide a U.S. presidential election to be 1 in 10 million at best and less than 1 in 100 million at worst. Their work, titled Estimating the Probability of Events That Have Never Occurred: When Is Your Vote Decisive? appeared in 1998 in the Journal of the American Statistical Association.  Ã¢â‚¬Å"Given the size of the electorate, an election where one vote is decisive (equivalent to a tie in your state and in the electoral college) will almost certainly never occur,† Gelman, King and Boscardin wrote. Still, the odds of your one vote deciding a presidential election are still better than your odds of matching all six numbers of Powerball, which are smaller than 1 in 175 million. What Really Happens in Close Elections So what happens if an election really is decided by a single vote, or is at least pretty close? It’s taken out of the electorate’s hands. Stephen J. Dubner and Steven D. Levitt, who wrote Freakonomics: A Rogue Economist Explores the Hidden Side of Everything, pointed out in a 2005 column in The New York Times that extremely close elections are often settled not at the ballot box but in courtrooms. Consider President George W. Bush’s narrow victory in 2000 over Democrat Al Gore, which ended up being decided by the U.S. Supreme Court. â€Å"It is true that the outcome of that election came down to a handful of voters; but their names were Kennedy, OConnor, Rehnquist, Scalia, and Thomas. And it was only the votes they cast while wearing their robes that mattered, not the ones they may have cast in their home precincts,† Dubner and Levitt wrote. When One Vote Really Did Make a Difference The races won by a single vote, in addition to the new 1910 Congressional election in New York, according to Mulligan and Hunter, were: A 1978 race for Rhode Island state Senate was tied at 4,110 votes and decided by a second runoff election. So was a 1980 race for New Mexico state House, at 2,327 votes for each candidate.A 1982 state House election in Maine in which the victor won 1,387 votes to the loser’s 1,386 votes.A 1982 state Senate race in Massachusetts in which the victor won 5,352 votes to the loser’s 5,351; a subsequent recount late found a wider margin.A 1980 state House race in Utah in which the victor won 1,931 votes to the loser’s 1,930 votes.A 1978 state Senate race in North Dakota in which the victor won 2,459 votes to the loser’s 2,458 votes; a subsequent recount found the margin to be six votes.A 1970 state House race in Rhode Island in which the victor won 1,760 votes to the loser’s 1,759.A 1970 state House race in Missouri in which the victor won 4,819 votes to the loser’s 4,818 votes.And a 1968 state House race in Wisconsin in which the victor won 6,522 votes to the loser’s 6,521 votes; a subsequent recount found the margin to be two votes, not one.

Behaviorism A Psychological Approach - 2941 Words

Behaviorism Behaviorism is a psychological approach that combines the elements of theory, philosophy and methodology. Behaviorism refers to that school of psychology that was founded by Watson. It was basically based on the assumption or belief that it is possible to change, train and measure behaviors (Drisoll, 2000). Behaviorism is a psychological school of thought that was established when Watson published his classic paper Psychology as the Behaviorist Views It (1913). The terms behaviorism is, therefore, that psychological perspective whose its explanations about learning are actually based on the relationship that exists between the events in the environment and behaviors that can be observed rather than on internal processes. It came up in the early 20th century basically as a reaction to the mentalistic psychology, which often was incapable of making predictions that rigorous experimental methods could be a test (Watson, 2008). Behaviorism, also behavioral psychology, is that learning theory based upon the idea and belief that any given or all behaviors and conducts are obtained through conditioning. Conditioning actually occurs through the interaction with the environment. They (behaviorists) assume that our responses shape our behaviors to the environmental stimuli (Drisoll, 2000). This school of thought argues that any person’s conduct can actually be studied in a manner that is observable and systematic without considering their internal mental states. ItShow MoreRelatedPsychological Approaches : Behaviorism, Cognitive And Humanistic Approach1659 Words   |  7 PagesAnalysis of three psychological approaches; behaviourism, cognitive and humanistic. Three psychological approaches will be discussed in this essay, it will analyse the strengths and limitations of each the humanistic, cognitive and the humanistic approach. 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Philosophy Main project part 2 Behaviorism Why do we do the things we do in our regular schedules? Do we do it on impulse, is it something we daily choose to do, or are we simply conditioned to a point where it becomes natural? These are the questions behaviorists think about when studying other people. I believe this is the right theory because I believe that everything a person does, why they think they way they do, why they do the things they do is becauseRead MoreThe Diver810 Words   |  4 Pagessetting. This involves the implementation of critical psychology concepts, subdisciplines and subtopics, motivation, behaviorism, and cognition. Moreover, these subdisciplines and subtopics may be applied to other disciplines in contemporary society. In addition, this paper will include the subdisciplines and subtopics to theoretical perspectives, and concludes with the psychological contribution in areas of work, education, health, and leisure. 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The Marginal Propensity to Consume

Questions: a. Describe what is meant by the marginal propensity to consume (mpc) and give its formula. b. Assume that GDP rises from $550bn to $650bn. Assume that this results in the consumption of goods and services rising from $340bn to $400bn. What is the mpc? c. Assuming that the domestic mpc remains constant, what will the level of consumption be if GDP rises to $700bn? d. If Australian consumption of goods and services is $400bn, investment is $120bn, government expenditure is $150bn, exports of goods and services are $140bn and imports of goods and services are $145bn, what is the level of aggregate expenditure (E)? e. Given your answer to (d), and assuming that GDP is currently $650bn, what will happen to GDP? Answers: (a). The marginal propensity to consume (MPC) refers as division of a total increment in pay that a customer spends on the utilization of products and in addition services, in preference to save it. Moreover, MPC plays a significant role in order to calculate the percentage of extra income that is used on consumption. MPC is an important component of Keynesian macroeconomic theory (Bilbiie Straub, 2006). Along with this, MPC is ascertained separating the adjustment in consumption by the change in income. In addition, the formula is as below: MPC = C / Y In this formula, C indicates the change in consumption, whereas Y points toward change in income (Gnos, Rochon, 2008). Hence, the formula is helpful to calculate MPC in an accurate and an appropriate manner. (b). MPC represents the changes in income because of changes in consumption. In the given question, GDP ascends from $550bn to $650bn. Moreover, the outcomes in the consumption of goods and services are ascending from $340bn to $400bn. The MPC is calculated as below: MPC = Change in Consumption / Change in GDP Change in Consumption = $400bn - $340bn = $60bn Change in GDP = $650bn - $550bn = $100bn MPC = $60bn/$100bn = .6 As a result; by considering all the given data the MPC is .6. (c). If the domestic MPC remains constant .6 and the GDP rise to $700bn then the level of consumption would be: = $700bn/ (1-.6) = $700bn/ (.4) = 1750 (d).Consumption of goods and services = $400bn Investment = $120bn Government expenditure = $150bn Exports of goods and services = $140bn Imports of goods and services = $145bn The level of aggregate expenditure AE = C + I + G + NX (Hubbard, Garnett, Lewis, 2012). = 400 + 120 + 150 + (140-145) = 665 At this point; C = Consumption: The household consumption over a specific time period. I = Investment: The amount of expenditure towards the capital goods. G = Government Expenditure: The amount of spending by governments (federal, state, and local governments). Government expenditure can take in infrastructure or else transfers that may increase the total expenditure in the economy. NX = Net exports: (Total exports- total imports). (e). Given answer to (d), and assuming that GDP is currently $650bn, and then the GDP will rise instead of fall or stay the same. The main reason behind it is that, according to the expenditure approach, aggregate expenditure is considered as a major part of GDP calculation. For that reason, if the aggregate expenditure will increase then it will increase the GDP in an automatic manner (Hubbard, Garnett, Lewis, O'Brien, 2014). Moreover, expenditure method is the most common method that is used in order to calculate GDP in an accurate manner. The formula for its calculation is given as below: GDP = C + G + I + NX On the basis of the above formula, it can be said that, the expenditure method involves aggregate expenditure to calculate the GDP. In this way, in this situation the GDP will rise. 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