The Positive Relationship Between Profitability And Leverage Finance Essay - Free Essay Example

Sample details Pages: 3 Words: 952 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Compare and contrast essay Did you like this example? The prediction of information asymmetry hypothesis by Myers and Majluf (1984) is approved by the negative sign whereas the predictions of bankruptcy theory and free-cash flow hypothesis by Jensen (1984) are not substantiated. It is thus proved that pecking order theory dominates trade-off theory. Frydenberg(2001b) describes retained earnings as the most important source of financing. Don’t waste time! Our writers will create an original "The Positive Relationship Between Profitability And Leverage Finance Essay" essay for you Create order Good profitability thus reduces the need for external debt. So result is conformity with our findings. Hence, the trade-off theory suggests a positive relationship between profitability and leverage because high profitability promotes the use of debt and provides an incentive to firms toavail the benefit of tax shields on interest payments. The pecking order theory postulatesthat firms prefer to use internally generated funds when available and choose debt overequity when external financing is required. Thus, this theory suggests a negativerelationship between profitability (a source of internal funds) and leverage. Severalempirical studies have also reported a negative relationship between profitability andleverage (Toy et al., 1974; Titman and Wessels, 1988; Rajan and Zingales, 1995; Wald,1999; Booth et al., 2001; Chen, 2004; Bauer, 2004; Tong and Green, 2005; Huang and Song,2006; Zou and Xiao, 2006; Viviani, 2008; Jong et al., 2008; Serrasqueiro and RogaÃÆ'†¹Ãƒâ€¦Ã¢â‚¬Å"o , 2009). Debt to Equity Ratio: According to our results beta coefficient is -0.326, whereas the value t-statistics is -2.257. Level of significance is 0.033. Debt to Equity Ratio is negatively correlated to leverage at -0.068. Our result shows that money lenders have been risk averse and they try to insure their profitability along with principle amount. If company debt ratio continuously shows increasing trend, this will give bad impression to money lenders so they will not be willing to invest. In this case companies always prefer to use their internal funds or retained. Harry Markowitz(1952) Current Ratio:Current ratio variable is positively correlated at coefficient of 0.362. Value of t-statistics is 2.622 this shows a highly significant result at 0.015. Our correlation table suggests that there is a highly significant positive correlation between current ratio and leverage. The value of Pearson correlation is 0.482**. This would encourage the investor to invest in companies with high current ratio becaus e in this case companies Current Assets shows increasing trend. In case of company default these assets will ensure investors repayment of principle amount. So companies can easily get leverage. Conclusion Using 5 variants of panel data analysis, we attempt to find the determinants of capital structure of KSE listed none-financial firms for the period 2005-2010. The effect of 5 explanatory variables is measured on leverage ratio which is calculated by dividing the total debt by total assets. Tangibility is significantly negatively related to debt. In Pakistan, where court process is slow and accounting profits do not reflect a true picture of firm performance, creditors prefer the security of specific claim on fixed assets. The prediction of trade-off theory is confirmed by our result. Size, measured by natural log of sale, has a negatively coefficient but is insignificant. It means that firms in the sample do not consider their sizes as an active variable in deciding the leverage level. Size gives a comparative advantage of lower asymmetric information when a large firm makes an IPO. Referencess Altman, E. 1984.A further empirical investigation of the bankruptcy cost question, Journal of Finance, Vol. 39, pp.1067-1089. Amihud, Y. and B. Lev. 1981. Risk reduction as a managerial motive for conglomerate mergers, Bell Journal of Economics, Vol.12 pp. 605-616 Banerjee, S., A. Heshmati, and C. Wihlborg. 2000. The dynamics of capital structure, SSE/EFI Working Paper Series in Economics and Finance 333, pp.1-20. Baker, G.P., M. C. Jensen and K.J. Murphy. 1988. Compensation and incentives: Practice vs. theory Journal of Finance, Vol. 43, pp. 593-615 Baltagi 2001, Econometric Analysis of Panel Data, 2nd Edition John Wiley Sons. Barclay, M.J., Smith C.W. and Watts, R.L. 1995.The determinants of corporate leverage and dividend policies, Journal of Applied Corporate Finance, Vol. 7 pp. 4-19. Baxter, N. 1967.Leverage, risk of ruin and the cost of capital, The Journal of Finance, Vol.22.pp- 395-403 Booth, L., V. Aivazian, A. Demirguc-Kunt, and V. Maksmivoc, 2001 , Capital structures in developing countries, Journal of Finance Vol. 56, 87-130 Bradley, Jarrell and Kim. 1984. on the existence of an optimal capital structure: theory and evidence, Journal of Finance, Vol. 39, pp. 857-878 Cheung, C.S, and ItzhakKrinsky. 1994 Information asymmetry and the underpricing of initial public offerings: further empirical evidence, Journal of Business Finance Accounting, Vol. 21 pp- 739-747 DeAngelo, H. and R. W. Mausulis. 1980. Optimal capital structure under corporate and personal taxation, Journal of Financial Economics, pp- 3-29 Allen, D.E. and Mizuno, H. (1989), The Determinants of Corporate Capital Structure: Japanese Evidence, Applied Economics, Vol. 21, pp. 569- 585. Anderson, C.W., Makhija, A.K. (1999), Deregulation, disintermediation and agency cost of debt: evidence from Japan, Journal of Financial Economics, Vol. 51, No.2, pp.309-40. Anderson, R., Mansi, S. and Reebc, D., (2003), Founding Family Ownership and the Agency Cost of Debt, Journal of Financial Economics, Vol. 68, 263-285. Baer, H. L., Caprio, G., Demirguc-Kunt, A. and D. Vittas, (1994), Term Finance: Theory and Evidence, World Bank mimeo. Balance Sheet Analysis of Joint Stock Companies Listed on the Karachi Stock Exchange, various Volumes (1988-2005), Statistics and DWH Department, State Bank of Bank of Pakistan. Banerjee A, Dolado J, Galbraith JW, Hendry DF. (1993), Cointegration, Error Correction, and the Econometric Analysis of Non-Stationary Data, Oxford University Press: Oxford. Bannerjee, A., J. Dolado and R. Mestre, (1998), Error-Correction Mechanism Tests for Cointegration in Single Equation Framework, Journal of Time Series Analysis, Vol. 19, 267-283. Barclay, M. J. and Clifford, W. Smith, (1995), The Maturity Structure of Corporate Debt, Journal of Finance, Vol. 50, pp.609-631. Bauer, P. (2004), Capital Structure of Listed Companies in Visegrad Countries, Prague Economi c Papers, No. 13. Bevan, A. A. and Danbolt, J., (2000), Capital Structure and its Determinants in the United Kingdom: A Decompositional Analysis, Department of Accounting and Finance, University of Glasgow, Working Paper No. 2000/2.

Analysis Of Ray Bradbury s All Summer - 1476 Words

In determining a topic for my research paper I began to think about what struggles I faced as an eighth grade teacher. I currently teach general education, an integrated co-teaching (ICT) class, and an ESL class in a widely culturally diverse school in Queens. In the last two years I also taught honors classes. I notice that the biggest challenge facing students from all my classes was reading comprehension. It was evident very early on in my teaching career that many struggling students who can technically read quite well don’t understand what they are reading. Their ability to decode words is far greater than their ability to make sense of the words. Without meaning, words are just words! I recently had one of my general education classes complete a literature circle on futuristic texts, one of which was Ray Bradbury s All Summer in a Day. It s a short story about children living on planet Venus who only get to experience the sun once every seven years. I found a fantastic recording of the story online with great inflection, and I decided to play this so my students could follow along as we read. I thought it might limit distractions and help them focus on the text. I watched as one girl in particular (let s call her Amy), read along, her eyes firmly on the paper. Amy was one of those loquacious students who was often served as a distraction for her peers and it felt damned good to see her so concentrated. After the reading was over, students began working onShow MoreRelatedAnalysis of Metaphors and Symbols in Fahrenheit 4512249 Words   |  9 PagesFarris 3 Lauren Farris Mrs. Reid AP English 4 21 March 2006 Analysis of Metaphors and Symbols in Fahrenheit 451 Fahrenheit 451, by Ray Bradbury takes the reader to a time where firemen do not put out fires; they start them in order to burn books, because books and intelligent thinking is outlawed. By using a combination of metaphors and symbols in this novel, Bradbury deepens the intricacy of his central them that censorship and too much government control is dangerous, and men should beRead MoreTheme Of Dr. Jekyll And Mr. Hyde And Something Wicked This Way Comes1837 Words   |  8 Pagesabiding superego, the pleasure driven id, and the ego that mediates between the two. It is clear that one’s decisions are always being influenced by external factors. This idea is portrayed in both Robert Louis Stevenson’s Dr. Jekyll and Mr. Hyde and Ray Bradbury’s Something Wicked this Way Comes. The story of Dr. Jekyll and Mr. Hyde follows a lawyer as he attempts to uncover the mystery of his friend Dr. Jekyll and his connection to the id-driven Mr. Hyde. Something Wicked this Way Comes is about threeRead MoreLiterary Criticism : The Free Encyclopedia 7351 Words   |  30 Pagesnovel is sometimes used interchangeably with Bildungsroman, but its use is usually wider and less technical. The birth of the Bildungsroman is normally dated to the publication of Wilhelm Meister s Apprenticeship by Johann Wolfgang Goethe in 1795–96,[8] or, sometimes, to Christoph Martin Wieland s Geschichte des Agathon of 1767.[9] Although the Bildungsroman arose in Germany, it has had extensive influence first in Europe and later throughout the world. Thomas Carlyle translated Goethe’s novelRead MoreFundamentals of Hrm263904 Words   |  1056 Pageswealth of interactive visual and audio resources, WileyPLUS gives you everything you need to personalize the teaching and learning experience.  » F i n d o u t h ow t o M A K E I T YO U R S  » www.wileyplus.com ALL THE HELP, RESOURCES, AND PERSONAL SUPPORT YOU AND YOUR STUDENTS NEED! 2-Minute Tutorials and all of the resources you your students need to get started www.wileyplus.com/firstday Student support from an experienced student user Ask your local representative for details! CollaborateRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesCity Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editorial Director: Sally Yagan Director of Editorial Services: Ashley Santora Acquisitions Editor: Brian Mickelson Editorial Project Manager: Sarah Holle Editorial Assistant: Ashlee Bradbury VP Director of Marketing: Patrice Lumumba Jones Senior Marketing Manager: Nikki Ayana Jones Senior Managing Editor: Judy Leale Production Project Manager: Becca Groves Senior Operations Supervisor: Arnold Vila Operations Specialist: Cathleen Petersen

Arts Crafts Bauhaus Movements free essay sample

Compares 19th Cent. British 1920s German art schools. Looks at the origins, critiques of society modernization, leadership, love of beauty utility. The Arts and Crafts Movement, that began in nineteenth-century Britain, and the Bauhaus movement, that started in Germany in the 1920s, had many goals in common. Both movements were interested in uniting all the arts and crafts and giving them equal dignity. Both movements were also deeply concerned with the role of the artist as worker and with the nature of work in general. Most importantly, both movements believed in beautiful design and well-made work as an enhancement of life. The importance of industrialized production and its aesthetic effects was a central question for both movements, but this was also the main point on which they disagreed. Both movements held that the industrialized production of goods had transformed the world. But, while the original Arts and Crafts movement largely rejected the machine age and all its productions, the Bauhaus. We will write a custom essay sample on Arts Crafts Bauhaus Movements or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page .

Zakes Mda redressing the past Essay Example For Students

Zakes Mda: redressing the past Essay South African playwright Zakes Mda has the outward calm and practiced smile of one who has answered the same obvious questions many times before. In a cool, dark office on the Yale University campus, he sits rather uncomfortably across the table from me, his speech reserved, his hands extended palms downward on the tabletop in a strangely formal gesture. Only occasionally does he raise his fingertips or his voice to punctuate his carefully chosen words. And yet Mdas passion is obvious when the topic turns to American impressions of South African drama. South African theatre is notthe voice and the fingertips come momentarily to lifea homogeneous monolith. What Americans see as representative of South African drama, Mda explains, are plays written purely for export and in a manner which is acceptable to overseas audiences but which fails to depict the rich and varied cultural and political context of contemporary South Africa. What is seen outside of South Africa, touring European and American venues, represents only one or two categories of what makes South African theatre. Outline1 Pocket of resistance  2 No happy endings  3 A taste for sexual equality  4 Bitter stalemate   Pocket of resistance   We will write a custom essay on Zakes Mda: redressing the past specifically for you for only $16.38 $13.9/page Order now For the past year, Mda has been a visiting fellow at Yales South African Research Project. Although his work is virtually unknown in this country (with the notable exception of The Road, which won the American Theater Associations Christina Crawford Award in 1984), Mdas reputation as a political playwright, poet, painter and educator is well established in Europe and in Africa, especially in his native country, where his political writings for the stage have seen frequent production since the late 1970s at the Peoples Space Theatre in Capetown, the Market Theatre in Johannesburg and the Grahamstown Festival. His three volumes of published dramatic works include We Shall Sing for the Fatherland (1978), The Hill (1979)both winners of major writing awards and the highly acclaimed And the Girls in Their Sunday Dresses. Born in South Africas impoverished rural Cape Province, Mda was forced as a teenager to follow his parents into political exile in nearby Lesotho, a tiny independent sovereignty surrounded on all sides by South Africa and heavily dependent on the larger nation for economic survival. Lesotho is widely known as a pocket of political resistance in southern Africas landscape, a place of exile for many black refugees. It is also at the heart of South Africas sprawling rural outlands: desolate areas of inhuman living conditions, abusive mining practices and slave-like farm labor which constitute a kind of South African Siberia far from the urban and industrial hubs of Capetown, Johannesburg and their adjacent black townships. It is primarily these urban areas and the experience of the township dwellers (particularly young, unattached males) which serve as the focus of South African drama and literature seen in the U.S. By comparison, Mdas plays evoke a South Africa of rural hardship and exile little known to Americans. Plays such as The Road, The Hill and Dark Voices Ring (1979) document the miles of open, unpaved road and the hostile terrain traversed by mine workers and migrant laborers in search of employment; they are peopled with the unwilling itinerant, the relocated and dispossessed, the political-refugee. Mdas latest play, The Dying Screams of the Moon, written while he was in residence at Yale, dramatizes a controversy regularly making the news in post-apartheid South Africa and, not incidentally, serves as the playwrights response to what he sees as the limited political and racial perspective of another contemporary public event: Athol Fugards most recent work, Playland. Like that drama, Mdas The Dying Screams of the Moon depicts an interracial encounter between two strangers in present-day South Africa. I have always enjoyed Athol Fugards work, says Mda. But at the same time I have vehemently disagreed with him in almost everything he has written. My South Africa is different from Athol Fugards South Africa. Thats the crux of the matter. .u6ff8599ba4eb54252e42eda60a29e69b , .u6ff8599ba4eb54252e42eda60a29e69b .postImageUrl , .u6ff8599ba4eb54252e42eda60a29e69b .centered-text-area { min-height: 80px; position: relative; } .u6ff8599ba4eb54252e42eda60a29e69b , .u6ff8599ba4eb54252e42eda60a29e69b:hover , .u6ff8599ba4eb54252e42eda60a29e69b:visited , .u6ff8599ba4eb54252e42eda60a29e69b:active { border:0!important; } .u6ff8599ba4eb54252e42eda60a29e69b .clearfix:after { content: ""; display: table; clear: both; } .u6ff8599ba4eb54252e42eda60a29e69b { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u6ff8599ba4eb54252e42eda60a29e69b:active , .u6ff8599ba4eb54252e42eda60a29e69b:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u6ff8599ba4eb54252e42eda60a29e69b .centered-text-area { width: 100%; position: relative ; } .u6ff8599ba4eb54252e42eda60a29e69b .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u6ff8599ba4eb54252e42eda60a29e69b .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u6ff8599ba4eb54252e42eda60a29e69b .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u6ff8599ba4eb54252e42eda60a29e69b:hover .ctaButton { background-color: #34495E!important; } .u6ff8599ba4eb54252e42eda60a29e69b .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u6ff8599ba4eb54252e42eda60a29e69b .u6ff8599ba4eb54252e42eda60a29e69b-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u6ff8599ba4eb54252e42eda60a29e69b:after { content: ""; display: block; clear: both; } READ: Court clashes over free speech Essay No happy endings   Mda feels that in Playland as well as earlier plays, Fugard has depicted black South Africans as meek, humble, pitiable people who just accept all with stoic endurance. Mda refuses to corroborate this fatalistic typing of his people; he also refuses what he calls the happily ever after ending of Playland, a piece which one South African critic labeled theatre of reconciliation. Reconciliation, nods Mda. Thats a very wishful situation, but the play does not address the crucial issues in South Africa now. The ownership of landand the difference between current government attempts at reconciliation and true reparation for injustices of the pastis the subject of The Dying Screams of the Moon. In Mdas words, The past must be addressed. And not only must it be addressed, it must be redressed as well. Under the Group Areas Act of 1912, the South African government forcibly removed black communities from their ancestral lands, declaring those lands white only areas for purposes of, among other things, economic development. Such development frequently meant that white commercial farmers were given exclusive right to purchase the confiscated property at extremely reasonable prices. Since the repeal of the Act in 1989, thousands of displaced and homeless blacks have redoubled their ongoing attempts to reclaim what was forcibly taken from them. A taste for sexual equality   People have wanted to return to their ancestral lands from day one, insists Mda. They didnt just move away like Boesman and Lena and start wandering around. They refused to move. But the government prevailed because it was all too powerful. Now, explains Mda, the problem is even more complex because the land legally belongs to white farmers, some of whom have been living on it for generations. In The Dying Screams of the Moon, a middle-aged black woman identified only as Lady has returned to the Valley of the Moon to reclaim the land from which she was forcibly removed as a child. The valley is now known as Victory Farms, a title given it by the white landowner whose family purchased the land decades earlier and who has turned it into a highly profitable commercial farm. The farmers interests are represented in the play by his daughter, Missy, a young woman who, like the white veteran Gideon le Roux in Playland, is a former soldier of the South African Defense Force, the military body responsible for forcibly putting down black resistance and for fighting the bloody and long-standing war of occupation with neighboring Namibia. Lady, it turns out, is also a veteran of South Africas violent race struggles, but from the opposite side: She is a former freedom fighter who has planned and executed guerrilla attacks on South African targets while living in forced exile. Bitter stalemate   What these former warriors share, they eventually discover, is a taste for the relative sexual equality they experienced as women given ranking positions of authority in the military. However, that taste has been tainted by the professional jealousy of male comrades and of lovers. Both women have lost their male companions by refusing to resume subservient female roles when returning to civilian life. This shared experience of personal potential cut short by sexual jealousy and oppression becomes a point of bonding between the interracial pair. Like the two men in Fugards Playland, these women enact a communal bearing of witness and a mutual absolution of sins in the course of the play. And yet, Mda ends Dying Screams on a note of bitter stalemate between these two newfound friends over their mutually exclusive claims to the land. In the words of Lady, Healing and redemption will only come when the pain of the past, which is in fact our present pain, has been addressed. .ub982d9578f150ea203410dcac644c999 , .ub982d9578f150ea203410dcac644c999 .postImageUrl , .ub982d9578f150ea203410dcac644c999 .centered-text-area { min-height: 80px; position: relative; } .ub982d9578f150ea203410dcac644c999 , .ub982d9578f150ea203410dcac644c999:hover , .ub982d9578f150ea203410dcac644c999:visited , .ub982d9578f150ea203410dcac644c999:active { border:0!important; } .ub982d9578f150ea203410dcac644c999 .clearfix:after { content: ""; display: table; clear: both; } .ub982d9578f150ea203410dcac644c999 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ub982d9578f150ea203410dcac644c999:active , .ub982d9578f150ea203410dcac644c999:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ub982d9578f150ea203410dcac644c999 .centered-text-area { width: 100%; position: relative ; } .ub982d9578f150ea203410dcac644c999 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ub982d9578f150ea203410dcac644c999 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ub982d9578f150ea203410dcac644c999 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ub982d9578f150ea203410dcac644c999:hover .ctaButton { background-color: #34495E!important; } .ub982d9578f150ea203410dcac644c999 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ub982d9578f150ea203410dcac644c999 .ub982d9578f150ea203410dcac644c999-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ub982d9578f150ea203410dcac644c999:after { content: ""; display: block; clear: both; } READ: Violet - A Musical by Jeanine Tesori and Brian Crawley EssayWe would like to have that wishful ending that Playland has, Mda laments, but the perspective of the black people is that as long as justice has not been served, there will never be any true reconciliation. The raised hands now come to rest once more on the tabletop. The voice, which has gradually climbed to a high pitch of insistence, returns to its clear and measured tones. But Mdas practiced smile has disappeared, as have other signs of his earlier discomfort. In the new smile which spreads across his face, one can read the artists desire to engage another in the passionate convictions which have given birth to his work.

Dark Secrets essays

Dark Secrets essays For our collage drama we chose to base it on youth. I have chosen to perform a scripted piece of drama. A dark secret that is about a teenage girl named Alex who shots her because she cant cope with everything anymore. Alex was always helping her friends and family and never having time for her. When Alex finally does something for her everyone hates her for it. This piece of scripted drama is a sad emotional play. The purpose of the youth performance is to let people know what teenagers go through. The message dark secrets is trying to get across is teenagers go through a lot of personal issues that their closet friend and family dont know about. No matter how you think you are to some one you never know when they might be keeping something from you. Look are deceiving just because they appear to be all happy smiles on the outside doesnt necessarily mean that is them on the inside. A dark secret is a small group performance the group consists of 6 actors. Each actor plays one role each. Our group chose roles that would be easy for us to relate to. Jessie played by Tamara Horne; Jessie is a female character, girl friend of Alex. Alex is the main character who commits suicide. Alex has a twin sister Liz. Sheri Campbell plays Liz. Liz has a hard time coming to terms with what Alex did and trys to find an answer in Chloe. I play Krystal Kavanagh Chloe. Chloe is Alexs best friend who also trys to find answers why did she do it, why did she kill herself. All the characters in dark secrets as them selves repeatedly ask them self-why but one character inpaticular that wonders why is Jamie. Jamie is the only male character in this performance. Chantelle Newton plays him. Chantelle portrays the male character very well. Chris is another one of Alexs friends who has trouble coming to an explanation of WHY? Dark secrets go for roughly 20 minutes. Throughout this pe ...

What should the UK Government do to make our transport systems work Essay

What should the UK Government do to make our transport systems work better - Essay Example Road congestion has now become a trend in the society and even for individuals in particular. As we have observed, traffic is very rampant especially during the so-called â€Å"rush hours† wherein people are in the speed for work or school. So, as the inconvenience of road congestion grows, cities world wide are struggling to deal the problem of increasing mobile population (Edwards & Smith, 2008, p1). Not being notice by many, that this simple phenomenon on transport problems can produce other problems in the society, or at least point, it contributes to it. We shall see in the study made by Edwards and Smith, the domino effect of the growing mobile population to other predicted problems and even to unforeseen predicaments. Thus, we can see this scenario in a dynamic complexity manner wherein it is still rational to say (though hardly be seen with just a simple glance), that these effects are a by-product of such occurrence (growing mobile population) and that they are simult aneously linked to one another. Problems in the society today like oil price hikes, global warming and economic recessions are mentioned to be the result of a mounting transport population. In their paper entitled â€Å"Transport Problems Facing by Large Cities†, it depicts relevant factors which cause transportation problems. The researchers focus their study mainly on four large world cities, particularly London, Tokyo, Paris and New York. As a result of the study made, the researchers conclude several factors that affect the transportation and traffic flows as well as the other flaws linked to it. These would include: large population; high car dependency; and ageing transport infrastructure. We can also see in their study the connection of transport predicament as an inevitable result of other world issues that we are facing at present. Simple questions like â€Å"how does a large population affects the expansion of new transportation business?† to a more complex q uestion like â€Å"how can a high mobile dependency scenario can lead to economic recessions?† will be discussed and shown in the later part. What the government can do and must do is to make our transportation system better is to create and enact a law or a policy that will efficiently and effectively solve the issue. Though there are already existing policies with regards to this problem, it is still lacking because it does not yet solve the identified predicament. Moreover, the aspect that we will be focusing will be the factors indicated by Edwards and Smith in their study to come up with a strategic policy to answer the problems on transportation in UK as well as its under-effects. There are already proposals to this matter that this paper will be dealing into to have a competitive policy that will somehow ensure a better transport system. But first we must have to look at the factors which contribute more to transportation problem to have a greater knowledge on which to concentrate more our policy to avoid misusage of effort as well as money and to achieve our desired result in a more effective manner. The diagram in the next page will show relevant connections on the factors mentioned by Edwards and Smith regarding transportation problems and there effects on other problems. MONOPOLY IN TRANSPOTATION BUSINESS LARGE POPULATION EXPANSION OF TRANS. BUSINESS LOW BUSINESS COMPETTIVENESS HIGHER RATE OF TRANSPORTATION DEMAND HIGH MOBILE ROAD DEPENDENCY CONGESTION ECONOMIC RECESSION OIL SCARCITY IN WORLD MARKET HIGH CO2 EMISSION/ AIR POLLUTION OIL PRICE HIKE DECLINE IN PRODUCTION GLOBAL WARMING INFLATIONS LOWER CONSUMPTION The Domino Effect As we can see in the diagram, the primary contributor in the interlinked world problems would be the factor of high mobile dependency. If we notice, there is a cause and effect relations between transportation problems to other economic, societal and environmental predicaments that will

SIMS Review Essay Example | Topics and Well Written Essays - 1250 words

SIMS Review - Essay Example As these discounts are likely to be provided on several years terms, it is impossible to eliminate the cash shortage problem by changing these discount immediately. This measure would affect the quality of the patient care in the hospital and make it lose even more money. The company must try to cut down the variable costs of the company which are usually subject to economies of scale. Up to certain point the marginal cost of providing extra unit of care is less than the average cost and thus the company should try to achieve the optimal level of servicing clients and try to cut down the variable costs. The second problem was estimated as giving nurses too high wages as the need for acute nurses was not met. If the increased wages were due to the fact that there was need for such services, this choice cannot also be eliminated and the staff should not be downsized. On the other hand, the best strategy would be to downsize the agency staff costs which are not directly associated to providing care services and thus must be at the optimal level. The agency staff hiring that the optimal number needed for successful hospital operation was estimated wrong and must be revalued as agency or contract staff is usually paid twice as much as regular workers for the same amount of utility they bring to the hospital. The third problem was low medical reimbursement levels which amounted to 70% charged to clients. As the hospital derives approximately 40% of its' revenues from Medicare patients this is a big loss for the company and this reveals that the staff hired to work in this direction is not performing efficiently thus resulting in working capital shortage. As the Medicare payments cannot be changed directly by the hospital and are set based on historical costs, the company can eliminate this problem only by providing efficient system of monitoring in time receiving these payments. The company has also experienced dramatic growth in current liabilities which mean that the company was spending a lot even though no major purchases for the company were made. This means that the hospital is not allocating resources efficiently. The next problem was estimated as unused equipment in patients' rooms which means some strategic mistakes which lead to purchasing this equipment but now it is not used. Together with reducing agency staff expenses the second strategy was chosen to reduce the staff benefits which include health insurance, retirement, salary increases above the market salaries, different bonuses and paid leave benefits. This can be a bad strategy in the long term as the best doctors can leave the hospital but the optimal choice would be to reduce these benefits for the newcomers to the hospital and reward those who add the highest value to the hospital services quality. This will on the other hand give incentives to newcomers to work harder to achieve higher rewards. This will generate sufficient cash flows for the hospital in the short term and will not affect the customer services quality hypothetically and slightly. These two measures of cost reduction will save the company $4,717,000 while the hospital has savings goal of $900,000 and is expected to receive over $2,300,000 in three months that is why it has to generate some cash until