Feminism Essay Example | Topics and Well Written Essays - 500 words - 3

Woman's rights - Essay Example A moms love prompted unmistakable perspectives and turned into a significant asset to female legislative issues (176). Speaking to ladies, she asserted that a mother who prepared his/her kid on the best way to maintain harmony was an officer in her own field (Duane and Warren 89). Kids would be educated at home and in schools on the most proficient method to embrace tranquil strategies for compromise. Kids would be instructed at home and in schools on the most proficient method to embrace quiet strategies for compromise. She accumulated the greater part of her information from military families to demonstrate that mothering was a training and not a commitment (Page 177). Sara relates objectives and practices whereby she contends that maternal practices gave serene speculation models to youngsters. She reprimands the military idea by presenting serene maternal consideration. As indicated by (Duane and Warren 92), kids who had information in compromise later became pioneers in the general public who lectured harmony and not war. She utilized women's activist related morals to cause mindfulness on harmony programs (Ruddick 15). Moms were informed to show their youngsters ways with respect to forestalling future wars. She additionally mentioned that men in the war zone should think like dads and children, yet not warriors. She likewise accepted that moms should take a gander at troopers as though they were their own spouses and not as cutthroat officers (Duane and Warren 92). At the point when men were at the war zone, they murdered each other prompting the loss of fathers and children in families that they had left back at home. Ladies, then again, were left forlorn and had the sole obligation to deal with the kids (Walters 60). Ruddick utilized this chance to make mindfulness and get maternal morals different homes. She recommended that the moms and educators should mentor their kids on the accessible harmony programs in schools (Ruddick 36). They would be ‘soldiers at home who might prompt a tranquil age, which would not prompt any passings (Walters 82). She

The Awakening Essay Questions Example For Students

The Awakening Essay Questions The Awakening The Awakening by Kate Chopin was viewed as stunning when it was first distributed in light of the sexual arousing of the principle character, Edna Pontellier, and her unusual conduct. Chopin moved to New Orleans after her marriage and lived there for a long time until the demise of her significant other. She came back to St. Louis where she started composing. She utilized her insight into Louisiana and Creole culture to make brilliant depictions of nearby shading, and she fused French expressions utilized by the Creoles. The Awakening starts at Grade Isle, an excursion spot of rich Creoles from New Orleans. Edna is there with her two children and her significant other Leonce who goes back and forth as a result of business. Edna isn't Creole, yet her better half is. She has never felt like she fits in with their way of life. Edna has constantly done what is anticipated from a lady, including wedding a man she didn't cherish. He sees her as a belonging instead of a person. While in the midst of a get-away, Edna begins to look all starry eyed at Robert Lebrun. She regularly goes to the sea shore with him. She starts to acknowledge just because, at age 28, that she is a person. Edna feels like one who stirs step by step from a fantasy to the truth of life. After this revelation, Edna changes. She dismisses her spouses wishes and regularly overlooks her youngsters. She figures out how to swim which likewise causes her start to feel increasingly autonomous. Edna gets to know two ladies, Mademoiselle Reisz, a piano player, and Madame Ratignolle, a protective woman. Troubled when Robert leaves for Mexico, Edna frequently visits Mademoiseel Reisz to whom Robert regularly composes. Edna keeps on dismissing the traditions of society. Her significant other becomes Lowe 2very vexed and demands that they should watch less convenance in the event that they need to stay aware of society. He attempts to get her to go to her sisters wedding, however she can't. Leonce goes to New York on business, however Edna will not go with him. The kids are with their grandparents so Edna makes the most of her time alone. She begins an undertaking with Alcee Arobin. He acquaints her with the significance of sex, which she didn't appreciate with her better half. She quits for the day house and moves to a littler one. Upset, her better half places a notification in the paper, which says that their home is being rebuilt. He attempts to conceal Ednas abnormal conduct from his companions. Edna, be that as it may, cherishes her new pigeon-house. Each progression she took toward easing herself of commitments added to her quality and development as a person. One day Robert returns. Edna runs into him at Mademoiselle Reiszs home. Edna is vexed to discover he had been in the city for two days and had not reached her. Despite the fact that she was having an unsanctioned romance, she is still enamored with Robert. The two meet again a couple of days after the fact, and Robert strolls her home. She kisses him, and he restores her enthusiasm. He admits that he went to Mexico since he was infatuated with her. He knew there was no expectation for them since she was hitched. They are hindered by a message for Edna to go to the bedside of Madame Ratignolle who is sick. She approaches Robert to sit tight for her. At the point when she returns, he is no more. His note peruses, I love you. Farewell, since I love you. Edna is troubled to such an extent that she comes back to Grand Isle where she swims exposed ocean. Intentionally she swims out excessively far and suffocates herself. This is a proper book for secondary school understudies to peruse. Young ladies will appreciate it more than young men will. It is a perfectly composed book, which can be utilized in English just as social examinations classes. .uf08560018efdd0e2072b15c9fa816af0 , .uf08560018efdd0e2072b15c9fa816af0 .postImageUrl , .uf08560018efdd0e2072b15c9fa816af0 .focused content territory { min-tallness: 80px; position: relative; } .uf08560018efdd0e2072b15c9fa816af0 , .uf08560018efdd0e2072b15c9fa816af0:hover , .uf08560018efdd0e2072b15c9fa816af0:visited , .uf08560018efdd0e2072b15c9fa816af0:active { border:0!important; } .uf08560018efdd0e2072b15c9fa816af0 .clearfix:after { content: ; show: table; clear: both; } .uf08560018efdd0e2072b15c9fa816af0 { show: square; progress: foundation shading 250ms; webkit-progress: foundation shading 250ms; width: 100%; obscurity: 1; change: murkiness 250ms; webkit-progress: darkness 250ms; foundation shading: #95A5A6; } .uf08560018efdd0e2072b15c9fa816af0:active , .uf08560018efdd0e2072b15c9fa816af0:hover { mistiness: 1; progress: haziness 250ms; webkit-progress: murkiness 250ms; foundation shading: #2C3E50; } .uf08560018efdd0e2072b15c9fa816af0 .focused content zone { width: 100%; position: r elative; } .uf08560018efdd0e2072b15c9fa816af0 .ctaText { fringe base: 0 strong #fff; shading: #2980B9; text dimension: 16px; textual style weight: striking; edge: 0; cushioning: 0; content enrichment: underline; } .uf08560018efdd0e2072b15c9fa816af0 .postTitle { shading: #FFFFFF; text dimension: 16px; textual style weight: 600; edge: 0; cushioning: 0; width: 100%; } .uf08560018efdd0e2072b15c9fa816af0 .ctaButton { foundation shading: #7F8C8D!important; shading: #2980B9; outskirt: none; outskirt span: 3px; box-shadow: none; text dimension: 14px; text style weight: intense; line-stature: 26px; moz-outskirt range: 3px; content adjust: focus; content improvement: none; content shadow: none; width: 80px; min-tallness: 80px; foundation: url(https://artscolumbia.org/wp-content/modules/intelly-related-posts/resources/pictures/basic arrow.png)no-rehash; position: outright; right: 0; top: 0; } .uf08560018efdd0e2072b15c9fa816af0:hover .ctaButton { foundation shading: #34495E!important; } .uf0856 0018efdd0e2072b15c9fa816af0 .focused content { show: table; stature: 80px; cushioning left: 18px; top: 0; } .uf08560018efdd0e2072b15c9fa816af0-content { show: table-cell; edge: 0; cushioning: 0; cushioning right: 108px; position: relative; vertical-adjust: center; width: 100%; } .uf08560018efdd0e2072b15c9fa816af0:after { content: ; show: square; clear: both; } READ: Nikola Tesla Persuasive Essay The epic will bolster conversation of the changing job of ladies and the significance of the Womens Movement in the mid 1900s. Understudies can likewise talk about Ednas sentiments and her suicide.Words/Pages : 656/24

Introducing MindMeister in German and Japanese - Focus

Introducing MindMeister in German and Japanese - Focus Please note: This article was last updated in 2009. MindMeister is now available in 12 languages, a list of which can be found in the language pop-up in the footer of our website. As a company headquartered in Germany and providing their product in English only, you almost get used to people questioning your patriotism. Our usual response to questions on why we dont offer a German version includes citing some demographic statistics of our user base (which is about 40% native English speaking). Truth is, its somewhat embarrassing it took us so long to launch a German version, but at least its here now! At the same time, our partner act2 created a Japanese version of MindMeister which also went live last weekend. Japan is a  great country for mind mapping as the technique is almost universally taught in schools and children get used to visually mapping out their thoughts from a very early age. Thanks to everyone at act2 for their relentless effort in getting the translation out the door in time! More translations are on the way next up are French, Spanish, Portuguese and Chinese and if youre interested in helping us with any additional languages please let us know. Also many thanks to those who have already offered their services, well definitely be getting back to you soon! Finally wed like to ask you a favor: if youre a native speaker of German or Japanese and you find any missing or erratic translations please send us a quick feedback message using the Found a mistake link in the menu bar. Sometimes you need to see a word or phrase in context to make sure the translation fits the intended meaning.

Does Underwriter And Litigation Risk Effect Ipo Pricing - Free Essay Example

Sample details Pages: 13 Words: 3954 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Going to public fund is one of the strategies to company to getting additional fund. Before that, company must publish their share to bursa Malaysia before invite the public to buying their share. But for unlisted company they cannot simply publish their share to public and they must be listed in bursa Malaysia first. Don’t waste time! Our writers will create an original "Does Underwriter And Litigation Risk Effect Ipo Pricing" essay for you Create order With that they must publish their prospectus when the first time they want to issue share to public and this is we called Initial Public Offering (first time going to public). Background In Malaysia history of IPO are begin when Malaysia stock market was establish as the Malaysian stock exchange in 1960. 1n 1973 the Kuala Lumpur Stock Exchange Berhad (KLSEB) and Singapore Stock Exchange (SES) are begin to replace the Malaysia Stock Exchange. In that time number of company that issuing IPO is not more to 500 companies. From 1973 until 2007 the IPO trend is showing quickly publish. In 1973 the number of listed company only 262 and up until 2007, Malaysia stock market have 1028 company. This rapid increase in the number of new listings is attributed to a number of factors, mainly to raise financing for expansion, to reduce the cost of new funds and to reduce the level of leverage (Shamsher et al., 1994). In 1980, the market valuation in Bursa Malaysia is about RM43 billion and rea ch to a trillion ringgit in year 2007. It happen when many companies are started to going public fund. Apart from that in year 1991 to 2003 the individual retailers have constituted more than 85% of the market player in bursa Malaysia IPO. Compared to the individual retailers group, the institutional investors group is reporting a smaller average at 2.05%. The remaining 6.47% of the market participants is consisting of others. From the 1984 to the 1995 the newly issue of IPO on the main board on KLSE is 173 company. Similar like that, when certain company wants to issuing the IPO, they are requiring by law to allocate 30% for Bumiputra investor. The main objective is to ensure the Bumiputra has own shareholding at least 33% on the entire market share. The pricing of IPO in Malaysia are regulated by Security Commission (SC) and it only take place when ministry of Trade and Finance (MITI) and Foreign Investment Committee (FIC) have giving their consent to the listing. It means the SC has make valuation on company in term of company financial statement and performance to evaluate whether certain company is really valuable to publish on the bursa Malaysia. One of the differential and unique IPO in Malaysia is, major of shareholder and the promoting bank (underwriter) have the choice to provide the profit guarantee not less than 90% on forecast profit on prospectus. Another way, the prospectus of company must be publish in Bahasa or English language and it must submitted to MITI, FIC and SC and the first trading is about in 12 month. The company, is not to seek approval the right issue from the SC during the 12 month they are listing, because actually the time between companies submit prospectus date to the SC for approval right issue to start trading is about 6 month. Recent reforms in Government Linked Companies (GLCs) are expected to improve performance and encourage private investment. More than 40 GLCà ¢Ã¢â€š ¬Ã¢â€ž ¢s are listed, comprising less than 1 0% of Malaysiaà ¢Ã¢â€š ¬Ã¢â€ž ¢s GDP. Changes in management, adoption of performance based contracts for management and implementation of key performance indicators (KPIs) are some of the reform that has been underway since April-May 2004. Merger and Aquistion (MA) actively declined in volume terms, due to a lack of very large transaction. Nonetheless, the number of MA transactions has remained stable over the past two years. Singaporeà ¢Ã¢â€š ¬Ã¢â€ž ¢s Temasek Holdings acquired large minatory positions in Malaysia banking and plantations companies. In the automotive industry, Chery Automotive, a Chinese assembler has announced plans to earmark Malaysia as their regional distribution hub, while Proton reached a deal to assemble Volkswagen Cars and distribute them in Southeast Asia. Proton, Sime Darby and Telecom Malaysia have all announced acquisitions of foreign companies too. 1.2 Problem Statement Initial public offering (IPO) one of the manners to company get additiona l fund thru equity funding, when certain company wants to increase their operation, but it not sufficient fund of borrowing they can officially going to public fund primary market (when first time company going to public). In other words, this IPO tend use by small growth firm to increase their capital and to issuing new capital. This company must be perfectly evaluating certain cost, i.e. cost of underwriting, attorney fee, cost of management time allocation to the lawsuit, reputation cost and so on. All of these cost potentially become liability for a small company in the first time they issue IPO. The first problems of the research are to identify about the underwriter effect on IPO. Apart from underwriter, second areas on this research will looks on information of the companies, information also can become higher cost for issuer, they will incur cost to encourage information generation prior to the IPO and after the IPO because issuer want giving good impression to customer a bout their company. But for customer, cost will be incurred when they want searching strong information about certain company profile. Basically, IPO will be determining by investment bank and IPO firm managements to setting up IPO price (offer price spread). This to make comparison, between company offer price (company determine IPO price) and what actual price should be offer by company. On top of that, potential litigation costs are quite significant for firms that have recently gone public. Attorney fees, the costs of management time allocated to the lawsuit, reputation costs, and settlement costs represent an enormous potential liability for a young firm. The last areas we will look on relation between risk and IPO in an aspect of the litigation-risk, where the firms with higher litigation risk will affect their IPO? 1.3 Approach of the Study In research we have two methods, firstly we have quantitative and second the qualitative (Gubra and Lincon, 1994). In our resear ch the quantitative method will be chosen with the purpose of this study because it able to value observation, precise measurement, statistical analysis, data collection is fix/cannot manipulate, variable truth and the most important is the hallmark good quantitative research are reliability and validity of data collection. After data are already collected it will be need to be edited, then data have to be coded and lastly data have to be key in and software programmed used to analyze the data. After data has been analyzed, we can make interpretation to getting conclusion about our research and make recommendation or suggestion to make improvement to Malaysia IPO. The final result also can be use for investor to do decision making about the attraction investment for them. 1.4 Scope of Study The scope of our research is consisting all company listed during 2000 until 2008 in Bursa Malaysia, whereby compasses 8 years in areas of to identity whether the Underwriter, Litigation and Prospectus will influence company pricing of IPO. CHAPTER 2 LITERATURE REVIEW This chapter we examine those factors generally considered to impact IPO performance to assess the extent to offering price is likely to be set and in setting the offering price. It is organized into two sections. The first section presents the historical of IPO and second section given the capital structure, secondary market return, litigation and prospectus in effected the IPO pricing. 2.1 Initial Public Offering Malaysia law define sale of expand authorize share of a company as new issue and the offer of share from the existing shareholder to the public is define as sale of share. The new issue market therefore consists of new issue and the sale of share of private company and government linked company to the public. Regulator approves new issue with elaborate care to ensure public interest is safeguard and the approval process may take up to a year in a large placement. Offering new issue to outsider help to raise finance for expansion and to obtain less costly source of new fund. Some research has been done by Fama 1984, company that listed in the New York market raise capital at a lower cost, the having from which amount to three quarter of one percent compare to unlisted company. Apart from that the investor has purchase of share listed in the secondary market obtain nominal yield, with are lower on average than in the new issue market. This extra return in a new issue market is the insider value factor which make offer price lower thus giving a high return. The over subscription of new issue keep feeding the frenzy for new issue. One study has suggest that the over subscription rate in Malaysia average 46 time (Dawson 1987, Yong 1991). Similar like that the new issues are price by the market at a much higher level than would be the case if (a) the new issue was equally like to be issue in bull or bear market and (b) there is no frenzy in wanting to subscribe to new issue. Because of the frenzy in the new market issue, there is practice pressu re during the initial few month, which keep the price artificially high during this early period after listing. At the same thing, one would expect the price in the new issue market to attain normal level after the initial few month when normal price unfettered by price pressure begin to emerge. For another part the new issue are substantially underprice in the Australian, UK, USA and the developed market. It similar behavior found in Malaysia because the offer price appears to be a deep discount of the initial day for market price. But the extent of underpricing is smaller in the developed market than in the developing market. The research finding on the IPO in the some developed country such as Australia, UK, USA and developing market such as Korea, Malaysia Singapore and other suggest an apparent underpricing of new issue because offer price appear to be a large discount off the initial listing day market prices. Considered again the long run share market return report in all these country, and the reward rate of those allocation new issue are substantially higher than normal rate of return in the secondary market of these country. Therefore, new issue should provide higher reward, which is the source of underpricing. apart from that the investment bankers try to reduce the offer risk and cost of underwriting by underpricing the issue. The present evidence of underpricing may also be due to the uncertainty about the real value of share and the related need to offer compensation to the investor for assuming the risk of the uncertainty. But for recent research has been done (Arif, Prasad, Shamsher and Annuar 1994) contradict this widely disseminated explanation. Share appears to be issue at their intrinsic value but then price are bid up by an optimistic investment market, which wrongly interpret demand pressure as understanding. While Ross (1984) explain the underpricing of IPO using the idea of information asymmetry between informed and unimformed invest or. He suggest that the asymmetry of information between the issuer and their investment banker is less relevant for pricing. 2.2 IPO and Secondary Market Returns Bradley et al (2009) examined IPO secondary market returns on the first day of trading during 1993-2003, and findings important things. First, there are open to close return are much larger than previously documented and potentially exploitable. It was averaging over 2% during the sample period. Second, we found that the market does not reach an equilibrium price until approximately 2 h into trading. Although this average is driven upwards by IPOs during bubble period. Third is that effect is persistent over the entire sample period, considered where they consider several non-mutually exclusive explanations, such as: price support by the lead underwriter, laddering, retail sentiment, and information asymmetry. They also examined the impact of retail sentiment on secondary markets return and found there were a stro ng positive relationship between the proportion of small trades and open to close returns consistent with the view that retail demand and sentiment can push IPO prices higher. But this argument assumes that these overoptimistic retail investors would ultimately experience a reversal. They also argue that information asymmetry can be in the form of aggregate demand uncertainty, which is unlikely to be resolved until the IPO opens for secondary market trading. 2.3 Company Capital Structure Basically firm has two source of fund, firstly they can use from internal fund and second for external fund. For internal fund they can use additional retain earning and also additional equity of shareholder and for external fund it can be use loan from financial institution and primary debt issue in the debt market. The capital structure theory is inconclusive about which factor determine borrowing level, expect providing the general idea that a firm ability to identify positive net presen t value investment should determine capital need, and further that a firm capital structure quality also determine the tax shield value from debt. Modigliani and Miller (1958) argue that the capital is not influence by a firm financing mix under the assumption that the capital market is perfect and there is no corporate tax. Average cost of capital will be lowering when market is imperfection and it increase value of the firm subsequent to borrowing. But for (Robicheck and Myer 1966, Hamada 1972) the firm financial risk will be increase when company has make decision to continuously borrowing. For another part if company is have extra debt, the shareholder risk will be higher. It happens because if these companies are going to bankruptcy, the first company obligation action is paying all their debt first. For (Gupta 1982) before company achieves maximum debt, the maximum value of the firm will always be reach first. Company has made decision going to public because they want to i ncrease fund to run the business in big scale. For (Gordon 1990) examined the relationship between a firm financing structure and the company technology. His result has supported the idea that firm with high capital to labor ratio acquire financing to run it business. 2.4 IPO and Litigation risk In our study on litigation, Skinner (1994) finds that the threat of litigation potentially alters firms disclosure behavior, and Krishnan and Krishnan (1997) and Shu (2000) find that this same threat causes auditors to stay away from risky clients. We extend this line of research by documenting another effect of litigation risk, it leads IPO firms to lower their offer price as one form of insurance against future litigation. Tinic (1988) tests the litigation-risk hypothesis by comparing the IPOs prior to and subsequent to the 1933 Securities Act, which substantially increased the legal exposure of IPO issues. Alexander (1991) examines 17 computer-related IPOs in 1983. She finds that se curities lawsuits were more likely filed when the dollar amount of the ex post stock price decline was sufficient to support the fixed cost of bringing a case. She also finds little variation among the settlements as a fraction of shareholder losses. Further, consistent with the deterrence effect of IPO, there is evidence that firms that engage in more IPO significantly lower their litigation risks, especially for lawsuits occurring closer to the IPO dates. After controlling for the endogeneity of initial returns and lawsuit probability, both the insurance and deterrence aspects of the litigation-risk. The simultaneous-equation framework used in this study is potentially useful for other settings. 2.5 IPO and Prospectus Information The process of taking a firm public enables firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s owners to realize both personal and professional goals. Taking the firm public, for example, enables entrepreneurs who have invested considerable time and resources in building t he firm to sell a portion of the firm, thereby providing personal funds as a reward for their efforts and enabling them to diversify their wealth (Rock, 1986). Moreover, the IPO helps entrepreneurs secure funding that allows them to pursue growth opportunities for the firm. As the firm grows, entrepreneurs may find themselves unable to secure increasing capital requirements to fund firm growth. Also, entrepreneurs may seek to avoid covenant-filled commercial loans that hinder their ability to take the risks necessary to pursue firm growth opportunities (Rock, 1986). Investment bankers are responsible for coordinating the stock offering for the IPO firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s managers (Benviste and Spindt, 1989). They provide an invaluable source of guidance for IPO firm entrepreneurs and managers, most of whom will have had no prior experience with the complex, often lengthy, process of taking the firm public. In addition to facilitating the IPO process by counseling firmsà ¢Ã¢â€š ¬ â„ ¢ entrepreneurs and managers, investment bankers assume primary responsibility for effectively marketing the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s securities to the investment community. The investment bankers determine the offer price spread, which must be disclosed either in the preliminary prospectus or shortly after filing the registration statement in an amended prospectus. The actual offer price is not determined until the day prior to the stockà ¢Ã¢â€š ¬Ã¢â€ž ¢s offering. This spread and offer price are of central importance to the entrepreneurs taking the firm public, as they determine the amount of funds the IPO firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s owners can expect to raise as a function of the stock offering. Given their centrality in the IPO process, it is important to understand those factors that may assist investment bankers in their initial determination of the spread within which they believe the final offer price will be set and, subsequently, the final offer price. The price sp read may provide an indication of the level of uncertainty surrounding the IPO. Uncertainty in the IPO context derives largely from the fact that the firm, while it may have an extensive operating history, has not previously operated under public scrutiny. CHAPTER 3 METHODOLOGY This chapter are consist and will be discuss about the purpose of the study, population of study, data collection, independent variable, dependent variable, research modeling and the lastly the data analysis. 3.1 Population of Study The population of our research is consisting all company IPO from 2000 until 2008. We also want to identity whether the Underwriter, Litigation and Prospectus situation will influence the investor to make the investment and how they react to company announcement of IPO in the good economic situation. On top of that, we might look on about company performance before and after the 1997 Malaysia financial crisis on the areas of our study. 3.2 Data Collection To investigate the new IPO issue since 2000 until 2008, which had all the require information for analysis on our research. The public record in various issue of investor digest, daily diary and the company files from Securities Commission (SC) and Bursa Malaysia (BM) were accessed to obtai n value for the variable. On top of that, requests for IPO prospectuses were sent to all firms undertaking IPOs in 2000 and 2008 as identified by the SC. 3.3 Independent Variables We rely on three independent variables for hypothesis testing, the first is the Prospectus Information. Founder CEO is a dichotomous variable with zero being a nonfounder CEO and one a founder CEO. CEO retained equity is calculated as the percentage of the IPO firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s stock that the CEO will hold following the opening day of trading. These data are reported in the prospectus filing. Board composition is measured as the percentage of independent outside directors serving on the board. Board size is measured as the total number of directors serving on the IPO firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s board. Second independent variable is Litigation Risk, as argued earlier, a firm about to make an IPO faces a trade-off in its pricing decisions. A higher offer price increases proceeds from the IPO, but it also raises the expected litigation costs. Two predictions emerge concerning the cross-sectional relations between IPO and inherent litigation risks. First, firms with higher litigation risk purchase more insurance, that is, they their shares by a greater amount (the insurance effect). Second, firms who choose higher levels of insurance incur lower expected litigation costs in the form of reduced probabilities of lawsuits. The third part is underwriting. The underwriter is playing to influence the public confidence about the company. If the company IPO is not over subscribe, the underwriter will be help that company to resell the IPO and maybe buying the IPO behalf of the company. When the company first time to setting the IPO price, it to hart to determine the suitable price because lack of expertise. The simple way to company is making negotiate with the underwriter. The issuer and underwriter is lock to the offer price regardless of the subscription of the market movement. Basically inside the underwriter agreement it conclude the underwritten fee, amount and whether the issue will indemnify the underwriter again all liability, cost and expence incur by the underwriter in relationship to the issue. 3.4 Dependent Variables This variable is computed as the difference between the high and low values in the range of offer prices established by the investment bankers. We calculate this measure as the (stock price at the time of IPO the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s book value)/stock price at the time of IPO. This price reflects the price at which the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s stock will be sold to initial investors on the opening day of trading. A firm litigation risk is also increasing in the volatility of the stock. One way to obtain the expected volatility is to use the standard deviation of prior stock returns. However, this is not feasible for IPO firms. Another alternative is to use the standard deviation of post-IPO returns. However, this is not obser vable prior to the IPO and may not be in the managersà ¢Ã¢â€š ¬Ã¢â€ž ¢ information set at the time of the offering. For (Smith, 1991 and Raghavat 1996) the company that issue the new security in public need the investment banking to become their underwriter in return for a commission comprise management fee, underwriting fee and the lastly the selling concession. The compny also must carefully choose their investment banker to become their underwriter, because the good of underwriter will be able this company increase their IPO price (negotiation and discussion between bank and company). One of the criteria is the underwriter must know the company industry, tern of propose offering, potential conflict of interest relating to the investment banker affiliation with the issuer competitor and the ability to the company provide research support after the offering price. 3.5 Research Modeling DEPENDENT VARIABLE INDEPENDENT VARIABLE Prospectus Information Initial Public Offering Litigation Risk Underwriter E(à ¯?†¢i) = ÃŽÂ ²1 + ÃŽÂ ²2X2 + ÃŽÂ ²3X3 + ÃŽÂ ²Ãƒ ¢Ã¢â‚¬Å¡Ã¢â‚¬Å¾Xà ¢Ã¢â‚¬Å¡Ã¢â‚¬Å¾ + à ¯? ­i. ÃŽÂ ²1 = Intercept, value of à ¯?†¢I when X2, X3, X4, equal to zero (0). ÃŽÂ ²2 = Changing in à ¯?†¢i when X2 change with assumption X3, X4, is constant. ÃŽÂ ²3 = Changing in à ¯?†¢i when X3 change with assumption X2, X4, is constant. ÃŽÂ ²4 = Changing in à ¯?†¢i when X4 change with assumption X2, X3, is constant. X2 = Prospectus information X3 = Underwriter X4 = Litigation risk à ¯? ­i = Yi error in population. The hypotheses are stated below: H0 = 0, mean has no significant relationship. H1 à ¢Ã¢â‚¬ °Ã‚   0, mean has significant relationship. Prospectus information H0 = Prospectus information does not significant relationship to IPO H1 = Prospectus information has significant relationship to IPO Underwriter H0 = Underwriter does not significant relationship to IPO H1 = Underwriter has significant relationship to IPO Litigation risk H0 = Litigation risk does not significant relationship to IPO H1 = Litigation risk has significant relationship to IPO 3.6. Data Analysis The final stage of our methodology is data analysis. When the data already run we will elaborate on the various statistical test and make interpretation of the result. To analysis our research we use SPSS for window software. The data was analyse to identify, examine, compare and interpreted theme and pattern. The analysis has been started after the collection of all the necessary data basically come from secondary data collection. Use of this SPSS software is illustrated which mainly because they are easily available in business settings. In data analyses, we have three objectives, firstly getting a feel for the data, second testing the goodness of the data and lastly testing the hypotheses developed for the research.

Financial Statement Analysis of Gul Ahmed - 5883 Words

COURSE Financial Statement Analysis Report on Financial Statement Analysis of Gull Ahmed Company SUBMITTED TO Sir Raza Haider Sawal SUBMITTED BY Mohammad Sadiq Imran khan Raza Khan Taimur Shareef BBA Hons Semester Vii Section A INSTITUTE OF MANAGEMENT SCIENCES | PESHAWAR Financial statement analysis Introduction: Financial statement analysis is the art of transforming data from financial statement into information that is useful for informed decision making. Financial analysis involves the use of various financial statements. These statements do several things. First the balance sheet summarizes the asset, liabilities, and owners equity of a business at a moment in time, usually the end of a quarter or year. Income statement summarizes†¦show more content†¦Quick Acid Test Ratio: A more conservative measure of liquidity is the acid test or quick ratio which is actually the measure of liquidity calculating by dividing the firm’s current assets minus inventory by its current liabilities. Formula: Quick acid ratio = Current assets – inventory Current liabilities The quick acid ratio of the Gull Ahmed Company of year 2009 is = 7359272000-4333234000 7749618000 = 0.39 Above stated ratio shows the firm’s ability to meet its current liabilities with its most liquid assets. Quick acid ratio is always less from current ratio because of inventory. A quick ratio of greater than one is generally recommended but as with current ratio it’s also depend upon nature of the company. However the remaining year’s ratios are obtained through this method. The table of five year ratio is given below: Year | 2005 | 2006 | 2007 | 2008 | 2009 | quick acid Ratio | 0.54 | 0.47 | 0.47 | 0.42 | 0.39 | Trend analysis: Generally quick ratio of greater than one is recommended but as with current ratio it’s also depend upon nature of the company. It is clearly shows from the above data of gull armed company that the company quick ratio is very poor with respect to its past data. Quick acid testShow MoreRelatedComparative Analysis of Gul Ahmed Textile with Industry8589 Words   |  35 PagesANALYSIS OF FINANCIAL STATEMENTS Final Project Gul Ahmed Textiles Limited Submitted to: Prof. Asif Bashir Submitted by: Muhammad Naseem Hayat L1F09MBAM2036 Rustam Javed L1F09MBAM2034 Hasan Mir L1F09MBAM0016 Section: A Dated: Friday, 31 August 2012 Contents Gul Ahmed 3 Firms Comparability: 3 Industry 3 Size of the firm: capitalization 4 Sales 4 Ownership: 5 International: 5 short term credit analysis 6 Analysis of Current Assets and Liabilities: 6 Current Asset Composition:Read MoreFormal Report on Gul Ahmad Textile3989 Words   |  16 Pages1. Introduction The purpose of the report is to present the company profile of Gul Ahmed textile industry. The current status along with the services and products offered by the company will be reviewed in this report. The report also mentions some opportunities the company has. The Companys board of directors includes six family members of the founder member of Gul Ahmed Group – Late Haji Ali Mohammed. The group has been carrying on business in the INDO Pakistan Sub Continent from the early 1900Read MoreMarketing Report of Gul Ahmed Textile Mill10361 Words   |  42 PagesDissertation (Marketing)29May 2008 Marketing Plan for Gul Ahmed Textile Mills Private (ltd) Table of contents Executive Summary 5 Statement of Purpose 9 Methodology 10 Delimitation 11 2. The Analyses 11 Gul Ahmed Textile Performance (History) 11 Corporate Profile - Major Companies 12 Corporate Profile - Business Activities 12 Textiles 12 Power 12 Management 12 Quality Policy 13 Social Policy 13 Environmental Policy 14 Health and Safety Policy 14 Sales review 14 2.2 The Macro EnvironmentRead MoreThe Impact of Corporate Governance on the Timeliness of Corporate Internet Reporting by Egyptian Listed Companies10157 Words   |  41 Pagesissue and full text archive of this journal is available at www.emeraldinsight.com/0307-4358.htm MF 34,12 848 The impact of corporate governance on the timeliness of corporate internet reporting by Egyptian listed companies Amr Ezat and Ahmed El-Masry Plymouth Business School, Plymouth, UK Abstract Purpose – This study seeks to examine the key factors that affect the timeliness of corporate internet reporting (CIR) by the Egyptian listed corporations on the Cairo and Alexandria StockRead MoreClothing Store Case Study8603 Words   |  35 Pagesexternal factors on the industry varies (as in every industry) and is computed with analytical tools like PEST-C analysis and Porter’s five forces model. Nonetheless, fashion industry assures new arenas of growth and development; new opportunities for employment. This industry promises a different national projection that is serene and contemporary. Later, an extensive internal analysis of the company of concern is carried out, which in this piece of work is Maria B. Maria. B. is one of the

The 25th of April, Anzac Day The one day of the year that evokes universal emotions in so many people Free Essays

The 25th of April, Anzac Day – The one day of the year that evokes universal emotions in so many people. I am no different as I stand with pride as an Air Force cadet in my perfectly pressed blue uniform, time honored slouch hat, high polished belt buckle and black patent shoes that glisten like ebony in the sun. With a steel grey Styer rifle slung over my shoulder I stand guarding the Forest Lake War Memorial as part of the catafalque party. We will write a custom essay sample on The 25th of April, Anzac Day The one day of the year that evokes universal emotions in so many people or any similar topic only for you Order Now I feel honored to have been chosen along with three other cadets from 224 Squadron at Amberley to silently stand guard at this sacred memorial on Anzac Day 2010. With the blazing mid-morning sun, searing down on the back of my neck I silently plead with God. â€Å"Please don’t let me faint in the heat, like so many have done on previous parades†. All the cadets from 224 SQN have taken bets on who would be the first cadet to collapse in the harsh sun; bets are on Brewell, who is nearly 15 kgs overweight and known to never make it through a bivouac without having to report to the First Aid station at least once. As I stand with my head solemnly bowed, my mind wanders as I stand perfectly still. I think of Granddad, who when he was not much older than me was â€Å"Chasing Japs around the bloody jungle†. This is the only insight I have of Granddad and the war as he seldom talks of it. I catch a quick glimpse of Granddad from the corner of eye as he stands in the massed crowd, at 85 years of age he still stands tall. It is nearly 65 long years after Hiroshima and Nagasaki were bombed and the war declared over, yet Granddad has never missed an Anzac Day ceremony. However, he has never marched on this day of remembrance or ever worn his medals, much preferring to blend in with the crowd and remain anonymous. Why he chooses to do this, I don’t know. Although, I strongly suspect it has something to do with the fact that many of his childhood friends from the small country town in Victoria that he grew up in, never returned to Australia from the fighting in New Guinea. Or is it because he is a modest man? As he once said â€Å"You shouldn’t have to be thanked or applauded for doing the right thing†. My mind is brought back to the present, when the silence is pierced by the sounds of â€Å"The Last Post† from the lone bugle and the Wing Commander of the day barking out the command for the flag to be lowered. As the sound of the bugle fades, my mind returns to Granddad. Like a time traveler, I am transported back to another Anzac Day parade when I was about 10 years of age. I am marching with the Moggill Boy Scouts, at the Kenmore parade, once again Granddad blending in with the crowd that throngs the side of the road. After the ceremony, I am walking back up the steep hill beside Granddad, having to take two steps to his one. I ask him why he never marches on Anzac Day and lets me wear his many medals on my right breast. He simply mumbles, â€Å"I have my reasons†. As we approach the bakery, where I know we will stop and he will buy me an ice cold Coke and sticky finger bun with bright pink icing, he turns to me, ruffles my hair and quietly says â€Å"But, you make it all worthwhile†. Suddenly a thunderous roar of an F1 11 resounds approaching from the east and interrupts the speech by Shane Neumann, the local sitting member for the Federal electorate of Blair. I suspect the crowd is rather pleased that this silver winged albatross drowns his lengthy speech out. The F1 11 is now directly overhead and the crowd raises its eyes to see the belly of this huge piece of flying machinery. I wonder why this obsolete aircraft that most countries have phased out years ago still can bring a crowd to a standstill. Is it that, like Anzac Day, people like tradition and want to have a connection with the past I start to gently sway from side to side to try and get a bit of circulation into my body. The temperature must be at least 30 degrees and I have been standing unmoved for nearly an hour. I start to plead with God again not to let me faint. Once again my mind wanders off and I find myself thinking of not only Granddad but of Nana, who is also a returned service woman, and who like Granddad and so many more gave away their youth to serve their country. I think of Nana in the small kitchen of their modest home in Taringa, fussing around making me and all the other grandchildren making morning tea. I find it hard to believe that she could have ever been in the army. Why would someone so quiet and caring like her want to serve during a war? She must have felt it was her duty, for at the time five of her older siblings were in the forces serving overseas. Her father, also being a returned veteran from World War 1, maybe this is why Nana also comes and watches me on Anzac Day. Once again my mind is brought back to the present when the silence is broken by sounds of music that accompanies the wreath laying. As the young and old solemnly walk and place a wreath at the foot of cenotaph, I listen to the words of the chorus of the accompanying song, â€Å"Lest we Forget† Yes, as I stand with the Styer slung over my shoulder, I realise it is those three words â€Å"Lest we Forget† why I am here today. I am here today to thank Nana, Granddad, and everybody else who served in the war, for making such huge sacrifices, to secure our nation’s freedom. I hope that their sacrifices will not be forgotten. As the flag is again raised and the lone bugler plays the Reveille, I look around at the huge crowd, and I know for sure they will all be remembered. How to cite The 25th of April, Anzac Day The one day of the year that evokes universal emotions in so many people, Papers

Menesetueng Alice Munro Essay Example

Menesetueng Alice Munro Essay The beginning of the story starts fifth a short piece of poetry by Alameda Joint Roth -The narrator is introduced as wanting to reconstruct Lambdas life, he/she introduces Alameda and her book of poetry Offerings to the reader The narrator provides a description of Lambdas appearance , and talks about the death of Lambdas family and her love of poetry The narrator describes how life was In the 19th century In Canada West (Ontario) The narrator then gives a list of some of Lambdas poem and speaks of what they may mean The narrator reveals he/she ivies in the same area as Alameda The Evident is introduced, which is the town newspaper, the narrator uses this to learn more about Alameda Pearl Street (poor community) is introduced, along with Queen Aggie a drunken women who is harassed by boys from Pearl SST. Much of the same way Alameda Is later on 2. Rising Action: At this point the narrator has faded into the background and we feel as if Alameda is speaking to us Jarvis Polluter is introduced, the widower and a wealthy business man who lives two lots down from Alameda, he Is the initial love interest of Alameda Jarvis and Alameda are seen talking, in the Palette, this Is mentioned In The Evident, and rumors spread that they may be a couple The narrator talks about how Alameda would like to marry Jarvis, but because of the time she must wait for him to indicate his interest The narrator introduces the doctor, who prescribes sedatives and nerve medicine to Alameda for her sleeplessness ( Alameda avoids the nerve medicine as it gives her vivid dreams) The doctor believes that if Alameda were to get married her problems would be over, despite the fact that nerve medicine Is commonly given to aired women 3. Climax: Alameda decides to make grape jelly one day, but falls asleep.. He wakes up when she hears a women being beaten and chased from Pearl Street, but soon renders back Into unconscious In her half-awake state she hears an Imaginary bird tell her to go move that wheelbarrow, and when Alameda looks outside she discovers a women against her fence ( perhaps Queen Aggie) Thinking the wome n is dead, she runs to Jarvis Polluters house to help her with the women, he discovers the women is simply drunk and behaves callously towards her. Alameda is sickened by his behavior ND the womens Jarvis who thought of Alameda as independent and confident lady, sees the desperation and vulnerability in her and finally shows his Interest and asks her to accompany him to church When Alameda returns to her home, she realizes 4. We will write a custom essay sample on Menesetueng Alice Munro specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Menesetueng Alice Munro specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Menesetueng Alice Munro specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Falling Action: She feels she is too sick to go to Church with Jarvis, and writes a note for him and sticks it to her door She makes herself some tea and puts a few drops of nerve medicine inside it The medicine starts to affect Alameda and the room comes to life , she is so caught up in her hallucination nothing seems real anymore Her grape Jelly begins to fall over the dove and her blood starts to drip, but she decides to let go of her sanity, because now she is free (from society) She has an epiphany in her delusional state She realizes she does not want Jarvis or to conform to societies expectations, and the only way to escape is to lose touch with reality She decides to write a poem of all her experiences and names it Messenger 5. Denouement: The ending is told entirely through two clippings from The Evident and some present day commentary from the narrator The first clipping describes the decline f Lambdas mental health and the circumstances of her death, she had been chased by boys and men from Pearl Street, and Jumped into a river and caught pneumonia The second newspaper clipping mentions Jarvis death exactly a year after Lambdas death The narrator describes going to Lambdas grave and how people make connections with historical clues such as The Evident The story ends of with the narrator confessing that he/she is not sure if anything in Lambdas life happened the way they had described , as all the evidence had come from historical sources Character There are only five characters in this short story The protagonist of the story is Alameda Joint Roth, a 19th century woman, she is a poet There is Jarvis Polluter, this character helps Alameda develop and reach a realization There is the doctor, he is a minor character , a foil character since he adds irony to Lambdas situation There is Queen Aggie, also another minor character but she foreshadows Lambdas death at the end of the story There is the narrator, whose perspective the story is told through, their identity and gender remains a mystery There is also society who is not a character, but society is the root of Lambdas conflicts making society the antagonist We only know that Alameda is a developing and dynamic character because she changes throughout the story, but we do not know this about any of the other characters since we are not given the opportunity to glimpse into their thoughts and feelings Setting remains the same but time changes Alameda exists in the 19th century, while the narrator in present time about a century later in looking back at Lambdas life Despite the fact that the place remains the same, there is a large difference in how society is .. The narrator speaks of this on many accounts Even though the story bounces back and forth among two different periods, the place stays the same. The use of the same physical setting helps to add accuracy to the narrators story since the narrator can say specific details about the town in Lambdas time and compare them to details that can be seen in the narrators own time. Ex: The house is still there today; the manager of the liquo r store lives in it. 2. Time: -story bounces back and forth between two time periods, the sass, when the narrator is talking and the sass, mainly 1879 when the main action of the story egging 3. Weather Conditions: summer, really hot, heat brings anger Quote: Hot weather brings accidents too. More horses run wild then, upsetting buggies. Hands caught in the wringer while doing the washing, a man lopped in two at the sawmill, a leaping boy killed in a fall of lumber at the lumber yard. Nobody sleeps well -weather later on adds to Lambdas illusions 4. Social Conditions: Alameda: lives alone -writes poetry to occupy her time -a respectable woman around town Local Color: Lambdas house faces two streets The population is young 5. Mood or Atmosphere: In the beginning, narrator tells us about Lambdas family and how they moved into the new town -Narrator then speaks about the death of her family, which gives a depressing atmosphere Point of View The narrative process in this story is very complex There is Third Person Omniscient Limited ( limited to the protagonist) . The author only chooses to reveal Lambdas thoughts and feelings to the reader. There is First person, we find out later that this story may not truly be what had happened in Lambdas life but that the narrator was attempting to recreate Lambdas life and s it is told in the perspective of the narrator. Often the narrator fades into the background, and it seems as if we are truly watching Alameda speak, feel and experience her life. Conflicts: Alameda faces both internal and external conflicts Person VS. Society: Her biggest struggle is against society and her place in society as a woman. She does not want to conform to societys expectations, this is external Person Vs. Herself: She has to battle against herself in order to break free, she realizes the only way to do this is to let go of her sanity, this is internal Person Vs. Fate: Alameda loses her entire family, and lives in isolation, this is external Themes: There are three large themes in the short story Messenger 1) Womens Role in Society Alameda does not meet the expectations of a typical 19th century women, she is not married, lives alone, and works. Women are portrayed as the more inferior sex , EX. He first time Jarvis shows interest in Alameda is when he can see sense her vulnerability 2) Isolation She is isolated from society since she does not meet the expectation that society has for women She has no close friends and has lost all her fam ily ) Illusion VS. Reality The narrator is not reliable in piecing together Lambdas life, he/she guessed things on many accounts After taking her medicine Alameda is unsure what is real or not The reader is never sure what is true or not Literary Criticism- Feminist: -This method of literary criticism uses feminism as primary method to criticize, it allows for readers to describe and analyze the ways in which literature reinforces male domination, and how women view themselves. -This story cannot be analyzed without looking at the time period it takes place in, this story has two different time roods, one in the 19th century and another in the 20th century. Takes place in a time when first-wave feminism had begun, it was the notion that women were people Traditionally women were mothers, wives, daughters.. Not an unmarried poet Jarvis Polluter first shows interest in Alameda when he is able to view her body and when she seems vulnerable Lambdas experiences were not significant because she was not a typical woman of the 19th century. Alameda allows herself to lose touch with reality in order to escape from society Has the plot structure that a tragedy would follow In a tragedy usually the main character has a fatal flaw which will lead to his/her downfall, what makes the story a tragedy is that usually the character themselves have good intentions and are trying to bring about good or reach a goal, but either through unusual circumstances or a direct result of their flaw the character will fail or die. In Lambdas case , her flaw was that she did not conform to societies expectations, which led her to letting go of her sanity Right from the beginning the story takes a tragic turn, the protagonist has no friend or family Each section of the Tory begins with a poem by Alameda, this w ay despite the story being told by the narrator the reader feels more connected to Alameda and her thoughts The way the narrator describe Alameda and her life, is tragic she is never happy She does not succeed in marrying Jarvis Polluter, she is isolated from society, She finally finds happiness in her insanity, which is also tragic -She dies tragically, it starts with her mental health declining and she is chased by men/boys From Pearl SST and Jumps into a river; this is where she catches pneumonia and eventually dies.