The Essay Example | Topics and Well Written Essays - 4000 words

The - Essay Example However, with the regime change successfully happening in Egypt, it is acting as a catalyst for even more pro-democracy and anti-monarchy movements throughout the Middle-East. Bahrain is one of those countries, which has been witnessing anti-monarchy movement or uprising. When the protests in Egypt gained momentum, support for them came wide across the Middle-East. In Bahrain also, a group of individuals gathered in front of the Egyptian embassy to support the Egyptian protestors. In addition, they also wanted more political freedom, equal representation to all people and actualization of democratic practices. Political freedom in the sense, with the Bahraini King nominating the Prime Minister and sizable numbers of parliament representatives, demonstrators wanted more ‘elected’ representatives. Importantly, they wanted equal rights and facilities for all the people, particularly for the majority Shias, as minority Sunni section of the population is playing a dominant ro le and garnering all the powers and benefits. So, this paper will discuss how the uprising in Bahrain started or happened due to certain social factors, as well as geographical, historical and political factors, and how it effected and is still impacting the Middle Eastern region. Geographical and Historical factors Bahrain is an archipelago in the Persian Gulf, with Saudi Arabia, Qatar and Iran surrounding it. It consists of 33 islands and the largest is the Bahrain Island, which constitutes the majority of the Bahrain’s population. The capital Manama is situated in the northern tip of the island and is the seat of political power, and thus the hotspot of the uprising. Bahrain got evolved geographically as well as historically due to certain events that happened in the 19th and 20th century and those events can also be viewed as an indirect contributing factor to the current uprising. Bahrain existed as a fragmented geographical territory in the 19th century, with various ki ngdoms. Britain at that time was at the height of its imperialistic tendencies, and it tried to wrest some of the territories. Being a Shia Muslims majority country, Bahrain sought the aid of Iran to counter British imperialism. Although, Iran shielded Bahrain initially, it could not protect it continuously and so British took over Bahrain. Britain brought Bahrain under its protectorate in the Persian Gulf, playing a dominant role in every aspect of Bahrain’s functioning, from appointing its rulers to changing its demographics. Changing of demographics in the sense, British brought in people from Iran, Huwala, as well as India into Bahrain for commercial purposes. â€Å"Mixed with the indigenous population ( in Manama) are numerous strangers and settlers, some of whom have been established here for many generations back, attracted from other lands by the profits of either commerce or the pearl fishery† (Gardner 2010, p. 36). Although, these people brought in with them various business skills, and developed Bahrain from a tribal society to a modern one, it started changing the demographics, as there was heightened concentration of people from outside of Bahrain. The same charge of bringing people from other countries and how is affecting the local population is being levelled by the protestors of the current upris

Psychology Research Essay Example for Free

Psychology Research Essay What are the main points of both articles? Anxiety Disorder: Panic Attacks. It can happen anytime, anywhere. Unexpectedly, out of the blue, your heart starts to speed up, your face goes red and you go through shortness of breath. One feels dizzy, nauseated and out of control. A number of people even think like theyre dying. Such may be a person experiencing a panic attack — a sudden occurrence of powerful fear that induces grave physical reactions in the body (Campbell, 2002). Several people, believing theyre having a heart attack, go to the emergency room. Others try to disregard the signs and symptoms, not comprehending that theyre experiencing a panic attack. A lot of women than men are disturbed by panic attacks. One-month prevalence estimates for women are 0.7% versus 0.3% for men (i.e., women are more likely to be affected than men by a 2- to 3-fold factor) (Daniels et al, 2006). And some people are experiencing frequent panic attacks, a condition known as panic disorder. Panic Anxiety Disorder starts most often when people are 20-30 years old. It activates less often in teenagers or persons in their forties. It is unusual for the disorder to emerge in the elderly for the initial time. Though panic attacks were once set aside as nerves or stress, theyre now documented as a potentially immobilizing, but treatable health condition. An assortment of approaches, together with medications, therapy and relaxation methods, can help one manage or prevent panic attacks (Wilson, 2005). Article #2: Children with Anxiety Disorder. Life is not easy for children these days. The fact that many adults suffer from mental illness of different kinds is enough to make people realize that children are even more susceptible to the same disease. It’s only good that a lot of breakthroughs are made especially in the area and study of mental illness. This study is even more significant in the light of the film Ordinary People, which has captured audiences worldwide decades ago. Precisely because the characters depict the â€Å"ordinariness† of each person and how representative they are to the masses, made this film a hit during its time. Ordinary People presents how malfunctioning individuals are as they go through each of their lives with the burden of mental illness. The role of the mother in the film shows someone who has personality disorder, specifically dissociative disorder, while the spouse and father as having generalized anxiety disorder; and their son Conrad, as suffering with PTSD or Posttraumatic Stress Disorder. Mental health experts describe the illness through its signs and symptoms. It is typified by children experiencing severe fear – a powerful worry or the uneasiness that run or last for periods of time ((http://www.nimh.nih.gov). When children sufferers are not treated, symptoms like these will present themselves through poor performance in academics, inability to relate with other children, low self-esteem, the use and abuse of illegal drugs including alcohol, and even anxiety disorder in adulthood (http://www.nimh.nih.gov).   Mental health experts describe the illness through its signs and symptoms. It is typified by children experiencing severe fear – a powerful worry or the uneasiness that run or last for periods of time ((http://www.nimh.nih.gov). When children sufferers are not treated, symptoms like these will present themselves through poor performance in academics, inability to relate with other children, low self-esteem, the use and abuse of illegal drugs including alcohol, and even anxiety disorder in adulthood (http://www.nimh.nih.gov). This mental health problem usually runs in families. Oftentimes, the disorder appears alongside other physical and mental health problems; substance abuse, like alcohol, usually comes along (http://www.nimh.nih.gov) with it. Anxiety disorder manifests in different forms: 1.) Generalized Anxiety Disorder or GAD, 2.) Phobias, 3.) Separation Anxiety Disorder, 4.) Panic Disorder, 5.)OCD or Obsessive Compulsive Disorder, and 6.) Posttraumatic Stress Disorder (PTSD) (Source: US Dept of Health, 1999 in http://mentalhealth.samhsa.gov/). 2. What are the similarities and/or differences? Similarities come in the form of the disorders’ signs and symptoms which include physical distress with Rapid heart rate , sweating, trembling , shortness of breath and hyperventilation, chills, hot flashes, nausea, abdominal cramping, chest pain, headache, dizziness, faintness, tightness in your throat, trouble swallowing, a sense of impending death . Other health problems — such as an impending heart attack, an overactive thyroid gland (hyperthyroidism) or drug withdrawal — can cause similar signs and symptoms. Individuals who experience panic attacks often are affected by other mental health conditions, including depression, fear of public places (agoraphobia) and social phobia (http://www.emedicine.com/med/topic1725.htm). What experiences have you had that relate to the topic or what have you learned in prior courses? Researchers are not certain what bring about panic attacks. Heredity, stress and certain biochemical factors may play a part. A person’s chance of having panic attacks increases if she/he has a close family member who has had them. Numerous researchers think the bodys natural fight-or-flight reaction to danger is involved. For instance, if a snarling dog came after a child, his/her body would react automatically. The heart rate and breathing would race as the body readies itself for a life-threatening situation. A lot of the same responses take place in a panic attack. No noticeable stressor is nearby, but something trips the bodys alarm system. Persons having Panic attacks are no more likely than the average American to have suffered from emotional problems at the time the disorder begins (Wilson, 2005). How does your view point relate to the topics?) Definitely, I agree from personal observation that these panic attacks and /or anxiety disorder though present only in the mind, â€Å"effectively’ renders a person â€Å"paralyzed† no matter his intelligence, status and persuasion in life. Imagine this picture: after months or years of incessant panic attacks and the constrained lifestyle produced by the distinctive avoidance behavior, the sufferer may develop into a demoralized and psychologically or physically depressed person. In addition, some sufferers resort to alcohol in an effort to self medicate or to reduce the sign and symptoms of the disorder. This significantly causes difficulties to the individuals life and ability to seek suitable treatment. Unfortunately, one out of every five untreated sufferers attempts to end his or her life, not at all comprehending that there was chance for changes and treatment (Wilson, 2005). As in the film as mentioned, it is interesting to note that despite such a troubled family, Conrad emerged to be someone who has conquered the odds in his life. The loss of a brother and its effects on him, being around with parents who exhibit a variety of symptoms that they themselves are also suffering, these things could have been too much for him or for anybody for that matter. PTSD and other anxiety disorder sub-categories are very interesting types of mental health problems because of their prevalence – and in spite of that, still, many people most of the times, ignore the fact that they might be sufferers. Just as in the case of Conrad, ordinary people – the most common among the populace – are actually beset with extremely upsetting events and are left to themselves to cope as each day comes.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   To end, this study from researchers Craske et al shows the hope for sufferers: â€Å"With practice and encouragement or persuasion from the therapist the patient learns to reinterpret internal sensations from signals of loss of control and panic to cues that are intrinsically harmless and can be controlled with certain skills. The intentional creation of these signs by the client, coupled with success in coping with them, reduces their unpredictability and changes their meaning for the client† (Craske, Maidenbberg, Bystritsky, 1995). Reference: For Children with Anxiety Disorder: Campbell, Nancy M. Panic disorder. Mankato, MN: LifeMatters, [2002].  616.85 DYI VT Craske, MG; MAidenberg, E Bystritsky A (1995). Brief Cogntive-behavioral versus nondirective therapy for panic disorder. Journal of Behavior Therapy Experimental Psychiatry ; 26, 113-120. Giacobello, John. Everything you need to know about anxiety and panic attacks. New York: Rosen, [2000]. Daniels C., Yerkes S., Bureau of Naval Personnel emedicine.2006. Wilson, Reid D., Don’t Panic: Taking Control of Anxiety Attacks The Revised Edition Of: Harper Perennial ISBN# 0-06-095160-5. For panic Attacks Article: Davison, Gerald C., Neale, John 2001, Abnormal Psychology, Eighth Ed., John Wiley Sons, Inc. New York. National Institute for Mental Health (NIMH) accessed in the Internet February 20, 2007 http://www.nimh.nih.gov. Surgeon general accessed in the internet February 20, 2007 http://www.surgeongeneral.gov/library/mentalhealth/chapter3/sec6.html.

Purification of Immunoglobulin G by Ion-Exchange

Purification of Immunoglobulin G by Ion-Exchange Purification of Immunoglobulin G by Ion-Exchange Chromatography and Immunoelectropheresis William McTavish Joseph Zappa Introduction Immunoglobins or, Antibodies, are soluble proteins secreted from host differentiated plasma cells that target and eliminate specific antigens to protect the host from disease (Jakoby, 1971). There are five isotypes of immunoglobulin: IgM, IgD, IgA , IgE and IgG, with IgG being the most prominent antibody found in blood circulation of the host. The purification of specific antibodies has led to the development of techniques such as western blotting; where desired proteins can be targeted by monoclonal antibodies engineered for a specific affinity for that protein( Burnette, 1981). The basis of immunoglobulin purification can begin with a technique of â€Å"salting out†, used vastly for precipitating organic molecules and is the first step in protein purification (Tsutomu and Timasheff, 1984). Immunoglobins are small soluble proteins that can be found within serum that is removed from a blood sample taken from the host. Hydrophillic immunoglobins contain amino acids that are polar or possess an ionic charge. Counter ions in the serum of the host are attracted to these polar and ionic charges making the proteins soluble in the solvent. By destabilizing the intermolecular forces between the immunoglobins and the serum solvent there can be an induced precipitation of these proteins. Ammonium sulfate is a highly used compound in salting out procedures, for when ammonium sulfate dissociates, the large sulfate ions form hydrogen bonds between the polar molecules found in the serum (Tsutomu and Timasheff, 1984). The quenching effect of sulfate removes hydrogen bonds and intermolecular forces away from the protein molecules, forcing them to form bonds between one another. This forced intermolecular bonding between proteins causes an accumulation of aggregated proteins and eventually, at the right concentration of salt, precipitation out of solution (Tsutomu and Timasheff, 1984). Although the precipitation of immunoglobulin from host serum with Ammonium sulfate is an efficient procedure for isolating globin, it does not allow for the accurate determination of a specific isotype of immunoglobulin. Ion exchange chromatography is a prominent technique used to acquire a single desired protein, including a specific isotype of immunoglobins. All molecules, including immunoglobulin that have ionizable groups have a net surface charge that is highly dependent on the environmental pH in which that molecule is in. The pH of an environment can dictate the amount of charge present on a molecule, whether it is more positive or more negative, as well as neutral (Grodzki, and Berenstein, 2010). The neutral point, where all positive charges cancel out the negatives is expressed as the pI of the molecule (Grodzki, and Berenstein, 2010). Since all proteins vary in their pI they will express specific charges at any specific pH. This characteristic of immunoglobulin is utilized in Ion exchange chromatography to isolate specific isotypes even if they vary only slightly in charge. IgG, as well as other isotypes of Ig, have a pI occurring near neutral pH so Anion exchange resins are often used for this type of chromatography. Anion Exchangers utilize resin that contains positively charged functional groups that act as counter ions towards protein being eluted through the column (Determann et al. 1969). With the resin set at a specific pH, the proteins that are most positive will exit the column first due to the repulsion of charges between the positive protein and positive resin. The next proteins to elute will be the neutral ones followed by the negatively charged proteins. Proteins are removed in this manner by constantly adding more of the buffer the column is immersed in. By adding more buffer there is an increased competition for associating with the resins charges, which in turn dissociates protein from the resin and further elutes them through the column (Determann et al. 1969). Not only does the charge of the beads matter but also the flow and porosity of the resin, alternations of these can allow for either a more broaden column exchange or a far more refined one. Diethyl aminoethyl (DEAE)-cellul ose is a commonly used resin for anion exchanging due to its higher porosity and positive functional groups that allows for better flow properties of the column. Increased flow rate allows for separation of more bulky and crude proteins, such as crude immunoglobulin, and aids in a higher resolution of separated proteins (Determann et al. 1969). Once several fractions of the column elution is collected there is many ways to identify which fraction is most likely containing the desired protein of isolation including determining the optical density of the fractions with a spectrophotometer. The OD of Immunoglobulin and other proteins can be determined by selecting a specific wavelength of light and beaming it through the elution fraction and recording the amount of transmitted light via photoreceptors (Edelhoch, 1967). A common wavelength used for identifying immunoglobulin is 280nm, this wavelength is absorbed by the amino acid tryptophan in proteins. Absorption of this wavelength in protiens makes it a proportional reduction of transmitted light based on the concentration of protein present in the column fraction (Edelhoch, 1967). The higher the reduction in transmitted light, the higher the OD reading for a fraction. A fraction of elute from Ion exchange chromatography may contain the desired Immunoglobulin G, but to further prove this, a technique called Immunoelectrophoresis (IEP) can be used to confirm the purity of Immunoglobulin fraction. Immunoelectrophoresis is a two-part technique that combines the use of electrophoresis and zone of equivalence of immune complexes to determine a positive result. Electrophoresis is another basic technique used in separating proteins based on size and charge to obtain separate sections of protein in agar gel or other resins such as polyacrylamide in SDS-PAGE techniques.(1) Proteins separate into a gradient of smallest more positive charged towards the cathode to smallest most negative charged towards the anode, with the larger, less charged proteins in the middle gradient. (Serwer and Wright, 2012). After protein separation has occurred in the welled samples, there is addition of antibody specific for certain protein that may be isolated out of the samples used in the experiment. If proteins are present that are the target of affinity for the added antibodies there will be association of antibody:antigen complexes. These complexes will form in the agar gel and at the proper gradient of both antibody and antigen concentrations there will be precipitation of these complexes out of the solution (Slater, 1975). This correct gradient is called the zone of equivalence and is frequently used in determining the presence of desired protein molecules, including immunoglobulin (Slater, 1975). Several other techniques are used in isolating proteins, an extremely prominent technique is the use of Antibodies themselves in Immunofluorescence (IF). Antibodies are engineered to contain a specific affinity towards a desired molecule, protein or even a whole cell. IF can work in either two ways: the first involves a single antibody engineered towards a desired antigen containing a flurochrome itself and emits fluorescent light to be detected. The second contains a secondary antibody that has affinity for the primary antibody binding to an antigen, this secondary antibody is the one that contains the fluochrome for detection (Johnson, 2006). In either of these techniques there is the advantage of staining samples of proteins or cells and identifying not just a single antigen but several with several different antibodies. This technique is extremely useful for identifying proteins in cell structures as well as identifying the presence of proteins in biological systems. Methods and Materials All methods used in this experiment can be located in the Immunology Laboratory Manual cited in references. There were two major alternations to the Immunoelectrophoresis experiment; There was a time of 1.5 to 2 hours allowed for electrophoresis of the agar slides instead of 1 to 1.5 hours. There was also an expansion of time from 24 hours to 48 hours allowed for the IEP slide to rest in a cold room before soaking in 1% NaCl solution. Results A high concentration of IgG was isolated in the third elution fraction from DEAE-cellulose Ion exchange chromatography. Optical density of six Ion exchange chromatography elution fractions were taken with a spectrophotometer to determine protein concentration at a wavelength of 280nm (Fig 1). The highest optical density was observed in the third elution fraction (Fig 1). This illustrates that the largest concentration of protein at a similar charge was eluted at the third fraction of the Ion exchange experiment. Figure 1. Third fraction of DEAE-celluose elution scored the highest optical density. All fractions were tested with spectrophotometry and optical density measurements were taken at a wavelength of 280nm (Fig 1). Results are shown as single values of optical density (OD) and relate to the amount of protein concentration in each fraction. (Fig 1) Immunoelectrophoresis of isolated protein reveals presence of purified IgG in response to Goat anti-rabbit serum Presence of Rabbit Immunoglobin was tested for using Immunoelectrophoresis with Goat anti-rabbit serum. Normal rabbit serum and purified fraction of protein were welled on a 1% agar slide and proteins were separated based on charge via electrophoresis. Anti-rabbit serum was added and results were taken for precipitation of immune complexes 48 hours later (Fig 2). Thin white lines between the wells and trough are precipitated immune complexes and thus show a positive test for rabbit immunglobins (Fig 2). Figure 2. Precipitated immune complexes reveal immunoglobin presence in normal rabbit serum and purified fraction. Proteins were isolated based on charge via electrophoresis to isolate specific proteins. Goat Anti-rabbit serum was added as antibody for rabbit immunoglobin and incubated for 48 hours. Distinction of grey and white bands are positive results regardless Discussion Purified Rabbit Immunoglobin G was isolated from Normal rabbit serum using DEAE-cellulose ion exchange chromatography and Immunelectropheresis with Goat anti-rabbit serum. Once the majority of proteins were salted out of the normal rabbit serum, Ion exchange chromatography was used to separate all proteins from the sample of crude globin. Since immunoglobin proteins are soluble in the blood and are near neutrally charged at philological pH, a large amount of protein was expected to elute roughly half way through the Ion exchange chromatography regardless of using anion or cation exchange columns (Grodzki and Berenstein, 2010). These results occurred for the DEAE-cellulose Ion exchange column used to separate crude rabbit globulin in our experiment. The third elution fraction, of six, contained the highest optical density when evaluated with the spectrophotometer at 280nm. Optical density is related to the concentration of protein in a sample, thus the fraction containing the highest amount of protein was the third fraction which was collected half way through the elution process. Although the method of determining sample concentrations for proteins can vary, these results can be seen in similar protein isolation studies such as Ye et al. article Isolation of lactoperoxidase, lactoferrin, ÃŽ ±-lactalbumin, ÃŽ ²-lactoglobulin B and ÃŽ ²-lactoglobulin A from bovine rennet whey using ion exchange chromatography. The protein isolated is presumed to be the globulin isotype Iummogloublin G, this is due to the nature of circulating antibodies found in the serum of the rabbit. The most prominent antibody isotype circulating in the blood is IgG, which binds to antigens, forming immune complexes as well as aiding in many other immune system mechanisms such as compliment activation, opsonization and etc (Collins and Jackson, 2013). Immunoelectrophoersis with Goat anti-rabbit serum was used next to determine whether or not the isolated protein in the third elution fraction is Immunoglobulin G. The nature of this experiment depends on two key process gel electrophoresis and precipitation of Immune complexes. If electrophoresis is preformed properly there should be a separation of proteins based on charge/size from the samples that were welled on the agar covered slide used in the experiment; creating small zones of protein purity along the slide (Slater, 1975). Since the eluted fraction sample should only contain one kind of protein and is roughly pure, there should only be one zone of protein sample, where the normal rabbit serum, containing an array of different proteins, will electrophoresis out into several different zones of protein. Determining these zones of protein was done by adding Goat anti-rabbit serum and allowing diffusion into the gel to create zones of equivalence between antibody and antigen, thu s precipitating the complex to be seen visibly (Serwer and Wright, 2012). For a positive result on the purity of the fraction sample only a single precipitation line formed at the zone of equivalence would be seen. The results for the purity of the fraction sample was conclusive with the above expectations, only a single faint precipitated line was seen on the gel; therefore re-enforcing that there is only a single protein isolated from the Ion exchange elution phase. The single protein isolated is promptly IgG due to it’s response to the anti-Rabbit serum containing anti-rabbit globulin. Immunelectrophoresis was used in this experiment to confirm the presence of IgG in the eluted fraction sample taken from DEAE-cellulose ion exchange chromatography. The reason this method was used was due it’s simplicity in determining specific immune complexes and thus re-ensuring purity. It is relatively quick in determining the presence of antigen, in this case the immunoglobin G of rabbit, and gives results ready to be read visually, lacking the need for software or other means of identification. The draw back of this technique is that it takes some practical skill in preparation and is only useful in identifying the purity of one sample at a time. Techniques such as western blotting would be more efficient for studies that desire more than a single purity such as Yang et al’s article Correlation between the overexpression of epidermal growth factor receptor and mesenchymal markers in endometrial carcinoma. An alternation to this experiment could be made in the chroma Purification of Immunoglobins is an extremely useful procedure. Being able to isolate specific classes of Immunoglobulin aids in research of host immune deficiencies such as the research done by Tamura et al in their article Tumor-Produced Secreted Form of Binding of Immunoglobulin Protein Elicits Antigen-Specific Tumor Immunity as well as many other fields of host immunity and clinical research. Successful purification and crystallization of Immunoglobulin has also allowed for insight on how host immune systems respond to infection and the biological processes that take place in these responses. References Jakoby, W.B. 1971. Cystallization as a purification technique, Enzyme Purification and Related Techniques, Methods in Enzymology. 22: 246-252 Determann, H. Meyer, N. Wieland, T. 1969. Ion exchanger from pearl-shaped cellulose gel. Nature 223: 499-500 Edelhoch, H. 1967. Spectrospoic determination of tryptophan and tyrosine in proteins Burnette, N.W. 1981. â€Å"Western Blotting†: Electrophoretic transfer of proteins from sodium dodecyl sulfate-polyacrylamide gels to unmodified nitrocellulose and radiographic detection with antibody and radioiodinated protein A. Analytical Biochem 112: 1935-203 Tsutomu A. and Timasheff, S.N. 1984. Mechanism of protein salting in and salting out by divalent cation salts: balance between hydration and salt binding Biochemistry(23)25:5912-5926 321 -Grodzki, A.C. Berenstein, E. (2010) Antibody Purification: Ion-Exchange Chromatography Methods in Molecular Biology 588: 27-32 Slater, L. 1975. IgG, IgA and IgM by formylated rocket immunoelectrophoresis. Ann Clin Biochem 12 (1) : 19-22, 24 Yang, W.N.Ai, Z.H. Wang, Xu, J.Y.L. Teng, Y.C. 2014.Correlation between the overexpression of epidermal growth factor receptor and mesenchymal makers in endometrial carcinoma. J Gynecol Oncol. 25:36-42. 47 Collins, A.M. Jackson, K.J.L. 2013. A temporal model of human IgE and IgG antibody function. Front Immunol 4: 225 Ye, X. Yoshida, S. Ng, T.B. 2000. Isolation of lactoperoxidase, lactoferrin, ÃŽ ±-lactalbumin, ÃŽ ²-lactoglobulin B and ÃŽ ²-lactoglobulin A from bovine rennet whey using ion exchange chromatography The international journal of Biochemistry Cell biology 32 (11-12): 1143-1150 22 Nydegger, U.E. Lambert, P.H. Gerber, H. Miescher, P.A. 1974. Circulating Immune Complexes in the Serum in Systemic Lupus Erythematosus and in Carriers of Hepatitis B Antigen QUANTITATION BY BINDING TO RADIOLABELED Clq Circulating immune complexes in the serum in Systemic Lupus Erythematosus and in carriers of Hepatitis Antigen B Quantitation by binding to Radiolabelled Clq. J Clin Invest.  54(2): 297–309. Serwer, P. Wright, E.T. 2012. Agarose Gel Electrophoresis Reveals Structural Fluidity of Phage T3 DNA Packaging Intermediate. Electrophoresis 33 (2): 352-365 101-Johnson, I.D. 2006. Practical considerations in the selection and application of fluorescent probes. In: Handbook of biological confocal microscopy, 3rd ed. (J.B. Pawley.ed), Plenum Press. new York. p.362-3. Circulating Immune Complexes in the Serum in Systemic Lupus Erythematosus and in Carriers of Hepatitis B Antigen QUANTITATION BY BINDING TO RADIOLABELED Clq

Computers And Marketing :: essays research papers

Computers And Marketing Marketing is the process by which goods are sold and purchased. The aim of marketing is to acquire, retain, and satisfy customers. Modern marketing has evolved into a complex and diverse field. This field includes a wide variety of special functions such as advertising, mail-order business, public relations, retailing and merchandising, sales, market research, and pricing of goods. Businesses, and particularly the marketing aspect of businesses, rely a great deal on the use of computers. Computers play a significant role in inventory control, processing and handling orders, communication between satelite companies in an organization, design and production of goods, manufacturing, product and market analysis, advertising, producing the company newsletter, and in some cases, complete control of company operations. In today's extremely competitive business environment businesses are searching for ways to improve profitability and to maintain their position in the marketplace. As competition becomes more intense the formula for success becomes more difficult. Two particular things have greatly aided companies in their quests to accomplish these goals. They are the innovative software products of CAD/CAM and, last but not least, the World Wide Web. An important program has aided companies all over the world. Computer- aided design and computer-aided manufacturing (CAD/CAM) is the integration of two technologies. It has often been called the new industrial revolution. In CAD, engineers and designers use specialized computer software to create models that represent characteristics of objects. These models are analyzed by computer and redesigned as necessary. This allows companies needed flexibility in studying different and daring designs without the high costs of building and testing actual models, saving millions of dollars. In CAM, designers and engineers use computers for planning manufacturing processes, testing finished parts, controlling manufacturing operations, and managing entire plants. CAM is linked to CAD through a database that is shared by design and manufacturing engineers. The major applications of CAD/CAM are mechanical design and electronic design. Computer-aided mechanical design is usually done with automated drafting programs that use interactive computer graphics. Information is entered into the computer to create basic elements such as circles, lines, and points. Elements can be rotated, mirrored, moved, and scaled, and users can zoom in on details. Computerized drafting is quicker and more accurate than manual drafting. It makes modifications much easier. Desktop manufacturing enables a designer to construct a model directly from data which is stored in computer memory. These software programs help designers to consider both function and manufacturing consequences at early stages, when designs are easily modified. More and more manufacturing businesses are integrating CAD/CAM with other aspects of production, including inventory tracking, scheduling, and marketing. This idea, known as computer-integrated manufacturing (CIM), speeds processing Computers And Marketing :: essays research papers Computers And Marketing Marketing is the process by which goods are sold and purchased. The aim of marketing is to acquire, retain, and satisfy customers. Modern marketing has evolved into a complex and diverse field. This field includes a wide variety of special functions such as advertising, mail-order business, public relations, retailing and merchandising, sales, market research, and pricing of goods. Businesses, and particularly the marketing aspect of businesses, rely a great deal on the use of computers. Computers play a significant role in inventory control, processing and handling orders, communication between satelite companies in an organization, design and production of goods, manufacturing, product and market analysis, advertising, producing the company newsletter, and in some cases, complete control of company operations. In today's extremely competitive business environment businesses are searching for ways to improve profitability and to maintain their position in the marketplace. As competition becomes more intense the formula for success becomes more difficult. Two particular things have greatly aided companies in their quests to accomplish these goals. They are the innovative software products of CAD/CAM and, last but not least, the World Wide Web. An important program has aided companies all over the world. Computer- aided design and computer-aided manufacturing (CAD/CAM) is the integration of two technologies. It has often been called the new industrial revolution. In CAD, engineers and designers use specialized computer software to create models that represent characteristics of objects. These models are analyzed by computer and redesigned as necessary. This allows companies needed flexibility in studying different and daring designs without the high costs of building and testing actual models, saving millions of dollars. In CAM, designers and engineers use computers for planning manufacturing processes, testing finished parts, controlling manufacturing operations, and managing entire plants. CAM is linked to CAD through a database that is shared by design and manufacturing engineers. The major applications of CAD/CAM are mechanical design and electronic design. Computer-aided mechanical design is usually done with automated drafting programs that use interactive computer graphics. Information is entered into the computer to create basic elements such as circles, lines, and points. Elements can be rotated, mirrored, moved, and scaled, and users can zoom in on details. Computerized drafting is quicker and more accurate than manual drafting. It makes modifications much easier. Desktop manufacturing enables a designer to construct a model directly from data which is stored in computer memory. These software programs help designers to consider both function and manufacturing consequences at early stages, when designs are easily modified. More and more manufacturing businesses are integrating CAD/CAM with other aspects of production, including inventory tracking, scheduling, and marketing. This idea, known as computer-integrated manufacturing (CIM), speeds processing

Helping Young People Learn

Taking part in youth club activities has provided me a rich experience, which includes finding a way to help and teach the young. Whenever we visit a community, we make it a point to dress up casually so we can relate easily with people, and give them the idea that we have a lot in common. This allows them to feel comfortable to share their ideas and feelings with us, making us understand their situation more vividly. Most of the communities we visit are composed of poor families, so they normally expect us to give them food, clothing, and toys for the kids.Aside from the material things, part of our program also provides tutorial sessions for children to help in their studies, and give them an idea of how they can contribute to the family's financial resources. Particularly, I was assigned to tutor a group of young people about the age of thirteen. The teenagers were not classmates in school, but they belonged to only one level, thus their lessons were the same. Our regular session consisted of discussing topics in Science and Social Studies, and answering Math problems. 1.As we progressed with our tutorial sessions, we became close, and eventually, they shared with me their experiences in school and at home. I learned that one of them was suffering in class because of the family’s financial constraints. There were times when her parents did not have enough money to finance her projects in school, or provide her everyday meal allowance. Given this situation, I helped the child find other ways to do her projects. For example, when they were asked to make a calendar in their Art subject, I taught her how to use recyclable materials such as colored paper cups, old magazines, and empty snack foils.In the next project that she did, I noted that she used this kind of materials and accomplished the project on her own using other recycled resources. Based on this, I felt that the girl learned something from me regarding cost cutting when accomplishing school pr ojects. Teaching someone to be resourceful is important to enhance creativity as well. According to Vaune Ainsworth-Land (1982), there are four categories of a process and its product. The first category operates out of necessity. In my experience, we see that we were able to come up with a good output out of the need to make a project at a low cost.In Maslow’s, this category is a primary one, as it centralizes on the idea of materialistic need. The second category involves the analytic process. Referring back to our experience, the child found out that she could do a lot of things even without spending, and she would receive a better grade by recycling materials. In behaviorist theories, this explains the operant response in which the individual is rewarded for a good behavior. The third category involves synthesizing and innovation.As mentioned above, the child learned to accomplish projects using the same kind of material, thus she was able to apply her knowledge in other things. This behavior represents Koestler's bisociation, because the child was able to apply the learned concept to different aspects. The fourth category is â€Å"the ultimate form of relatedness,† (Ainsworth-Land, 1982) in which the person is seen to attain a â€Å"transformed consciousness. † Applying this to the situation, the child that we referred to would later attain this, when she continues to apply her knowledge into practical terms.Another student that I tutored had difficulty in solving word problems in Math. Based on his behavior, I recognized that his problem aroused from not having enough patience to comprehend items in problem solving. Apparently, reading problems confused and bored him the moment they appeared. To address this problem, I challenged him to imagine what was being described in one of their math problems, and illustrate what he understood in it. It showed that the boy understood the problem completely after illustrating it, and he was able to solve the problem after that.The theory of Situated Learning (1988) by J. Lave explains that a child can learn easily when the context and activity are based on his own experience. To help the child in problem solving, what I did was to situate him in the activity, and made him a part of the situation by asking him to illustrate based on his background of the problem. Particularly, I let him draw the situation and did not dictate what was conveyed. The activity made the child express himself better, which also led to motivate him to come up with the correct answer.Other theorists such as Brown, Collins & Duguid (1989) emphasized active perception over concepts and representation. Thus, by illustrating, the child gained an active perception of what was presented in the problem. The other boy that I handled had problems with his classmates who bullied him. Due to what his classmates did to him, he felt reluctant to go to school, and pretended to be sick at times. During our sessio n, I asked him first what the other boys told him, and why they called him with nasty words. The boy said that the other boys called him names and wrote on his notebook.I felt the boy’s pain as he told me about the hostilities of his classmates, so right away, I informed his mother of the situation, and advised her to consult with the classroom adviser or the guidance counselor in the school. I believe that this should be handled by authorities in the school as other students were involved. Through reporting to the teacher and school counselor, the boys were reprimanded of their teasing, and my friend felt better. Later on, he felt more comfortable going to school because the other boys already stopped teasing him.A lot of teenagers undergo this stage when their peers bullied them for nothing. In these cases, the victim tries to keep the situation to himself because he is afraid to create a scenario in class, or is threatened by his peers. According to Maslow’s theory of Motivation and Personality (1954), a person is driven by both internal and external factors. In addition, one’s motivation is dominated by his specific needs. In the boy’s situation, we can identify his need for belongingness as the factor that made him dissatisfied with school.Because this need was not realized, the boy felt reluctant to go to school, thus the motivation to go to school was associated with his need for friends and companionship. When the need was addressed, the barrier to learning also collapsed. 2. Aside from tutoring students in their academic subjects, I also told them stories to teach values like friendship, honesty, and service to others. In one session, I told them a fable, in which a rabbit sacrificed for another animal. Having told the story, I challenged them to do something similar to what the main character did, and tell their stories next time.Amazingly, one of the children took my challenge seriously, and did what I told them. He narra ted to us how he helped a man he saw on the street by sharing him some food, and giving him medicine to heal the man’s wound. In telling this story, the boy expressed how it felt good to do such kindness, and how the man thanked him with a smile. He professed that he will do this again once he sees another person needing his help. Just like the character in the story, he said that the kindness he showed the man will go a long way because by helping, he brought hope to the man, and made him feel loved.The boy added that if other people would do the same, no man will by lying cold on the streets. The words the boy uttered reflected his own realization based on experience. Those words also reminded me of the Good Samaritan, who helped an ill man lying in the cold. The experience of the boy reminded all of us, especially me, of our responsibility to others, especially the needy. With such good Samaritans like the boy, we can see hope in the next generation. 3. The success of a te am depends on the performance of each member’s role.Applying Meredith Belbin’s (1981) Nine Roles in Team Management, I served as the â€Å"specialist† in the tutorial session for teenagers, teaching them how to use the Internet as a useful tool for research. Due to the limited number of computers, and my own hope of making them learn how to teach others, I initially taught only four students to access the Internet. In turn, these students taught their peers and served as the â€Å"company workers† who provided the work of teaching others in their community.In one week’s time, we were able to teach a total of forty-five children how to use the Internet in their assignment and advanced readings. As discussed by Tuckman (1965) in his Stages of Group Development, we exhausted the means to reach our common goal of attaining learning for the group. In addition, we also assessed individual performance by asking them to make a simple research on their topi c of interest. During the Performing stage, the â€Å"company workers† or those tasked to teach their peers experienced some problems in that their peers wanted to spend time visiting gaming sites.This somewhat forfeited the purpose of teaching them the use of the Internet for research purposes, but with close monitoring, the behavior was corrected right away. After the Performing stage, the core group was asked to evaluate what they accomplished in terms of their own roles during the training. Notably, the students felt very proud of being able to teach their peers, and looking at the outputs, they cherished memories of taking part in other’s learning. References Berguist, Carlisle. (n. d. ) A comparative view of creativity theories: Psychoanalytic, behavioristic, and humanistic.Retrieved January 2, 2008, from http://vantagequest. org/trees/comparative. htm Famous models: Stages of group development. (2001). Retrieved January 2, 2008, from http://www. chimaeraconsulti ng. com/tuckman. htm Gawel, Joseph E. (1997). Herzberg's theory of motivation and Maslow's hierarchy of needs. Washington, DC: ERIC Clearinghouse on Assessment and Evaluation, [ED421486]. Retrieved January 2, 2008, from http://chiron. valdosta. edu/whuitt/files/herzberg. html Manktelow, James. (2003). Belbin’s team roles. Retrieved January 2, 2008, from http://www. mindtools. com/pages/article/newLDR_83. htm

Definition and Examples of Belles-Lettres in English

Definition and Examples of Belles-Lettres in English In its broadest sense, the term belles-lettres (from the French, literally fine letters) can refer to any literary work. More particularly, the term is now generally applied (when used at all) to the lighter branches of literature (The Oxford English Dictionary, 1989). Until recently, belles-lettres has similarly been used as a synonym for the familiar essay. Adjective: belletristic. Pronunciation: bel-LETR(É™). From the Middle Ages until the late 19th century, notes William Covino, belles-lettres and rhetoric had been inseparable subjects, informed by the same critical and pedagogical lexicon (The Art of Wondering, 1988). Usage note: Though the noun belles-lettres has a plural ending, it can be used with either a singular or plural verb form. Examples and Observations The emergence of a literature of belles-lettres in Anglo-America reflected the success of the colonies: it meant there now existed a community of settlers who took settling in the New World enough for granted not to write about it. Instead of histories, they wrote essays in which style mattered as much as content and sometimes more . . ..Belles-lettres, a literary mode that originated in 17th-century France, signified writing in the style and service of cultivated society. The English mostly kept the French term but on occasion translated it as polite letters. Belle-lettres denotes a linguistic self-consciousness testifying to the superior education of both writer and reader, who come together more through literature than through life. Or rather, they meet in a world reconstructed by literature, for belles-lettres makes life literary, adding an aesthetic dimension to morality. (Myra Jehlen and Michael Warner, The English Literatures of America, 1500-1800. Routledge, 1997)Reporting tr ained me to give only the filtered truth, to discern the essence of the matter immediately and to write about it briefly. The pictorial and psychological material which remained within me I used for belles-lettres and poetry. (Russian author Vladimir Giliarovskii, quoted by Michael Pursglove in Encyclopaedia of the Essay, ed. by Tracy Chevalier. Fitzroy Dearborn Publishers, 1997) Examples of Belle-Lettrists Often the essay is the favoured form of the belle-lettrist. The works of Max Beerbohm provide good examples. So do those of Aldous Huxley, many of whose collections of essays . . . are listed as belles-lettres. They are witty, elegant, urbane and learnedthe characteristics one would expect of belles-lettres. (J.A. Cuddon, A Dictionary of Literary Terms and Literary Theory, 3rd ed. Basil Blackwell, 1991) Belletristic Style A piece of prose writing that is belletristic in style is characterized by a casual, yet polished and pointed, essayistic elegance. The belletristic is sometimes contrasted with the scholarly or academic: it is supposed to be free of the laborious, inert, jargon-ridden habits indulged by professors.Reflection on literature has most often been belletristic: practiced by authors themselves and (later) by journalists, outside academic institutions. Literary study, beginning with research on the classics, became a systematic academic discipline only in the 18th and 19th centuries. (David Mikics, A New Handbook of Literary Terms. Yale University Press, 2007) Oratory, Rhetoric, and Belles-Lettres in the 18th and 19th Centuries Cheap print literacy transformed the relations of rhetoric, composition, and literature. In his review of [Wilbur Samuel] Howells British Logic and Rhetoric, [Walter] Ong notes that by the close of the 18th century orality as a way of life in effect ended, and with it the old-time world of oratory, or, to give oratory its Greek name rhetoric (641). According to one of the literature professors who occupied the chair of rhetoric and belles lettres established for Hugh Blair, Blair was the first to recognize that Rhetoric in modern times really means Criticism (Saintsbury 463). Rhetoric and composition began to be subsumed into literary criticism at the same time that the modern sense of literature was emerging . . .. In the 18th century, literature was reconceived as literary work or production; the activity or profession of a man of letters, and it moved toward the modern restricted sense, applied to writing which has claim to consideration on the ground of beauty of form or emotiona l effect. . . . Ironically, composition was becoming subordinated to criticism, and literature was becoming narrowed to imaginative works oriented to aesthetic effects at the same time that authorship was actually expanding. (Thomas P. Miller, The Formation of College English: Rhetoric and Belles Lettres in the British Cultural Provinces. University of Pittsburgh Press, 1997) The Influential Theories of Hugh Blair [Throughout the 19th century, prescriptions for] fine writingwith their attendant critique of literary styleadvanced an influential theory of reading as well. The most influential exponent of this theory was [Scottish rhetorician] Hugh Blair, whose 1783 Lectures on Rhetoric and Belles-Lettres was the text for generations of students. . . .Blair intended to teach college students the principles of expository writing and speaking and to guide their appreciation of good literature. Throughout the 48 lectures, he stresses the importance of a thorough knowledge of ones subject. He makes it clear that a stylistically deficient text reflects a writer who doesnt know what he thinks; anything less than a clear conception of ones subject guarantees defective work, so close is the connection between thoughts and the words in which they are clothed (I, 7). . . . In sum, Blair equates taste with the delighted perception of wholeness and posits such delight as a psychological given. He makes this remark by way of connecting taste with literary criticism and concludes that good criticism approves unity above all else.Blairs doctrine of perspicuity further connects least effort on the readers part with admirable writing. In Lecture 10 we are told that style discloses the writers manner of thinking and that perspicuous style is preferred because it reflects an unwavering point of view on the part of the author. (William A. Covino, The Art of Wondering: A Revisionist Return to the History of Rhetoric. Boynton/Cook, 1988)

You Can8217t Say That essays

You Can8217t Say That essays In a time of such progress and cultural diversity, one would thing that certain human rights would be honored and kept unfettered by laws. These human rights are some of the most basic elements having your own free will. But as time goes by, some of these rights are diminishing. When our forefathers wrote the Bill of Rights, they put the more important of these rights first, freedom of speech. Back in the late eighteenth and nineteenth centuries, people had to watch what they say about the government, make sure they were practicing an approved religion, and could not voice there personal views for fear of being persecuted. Before the Bill of Rights, failure to adhere to the standard was grounds for punishment. Our forefathers say this travesty lay upon the people of other lands and swore that in the new land there would be no prejudice on personal views. By inputting these beliefs into the Constitution, they also laid the grounds for other human rights laws. If the freedom of speech amendment were not in the constitution, many of the theories and statements in the document would not hold water. In todays society we hold that amendment almost sacredly. Every day someone else is trying to ban something they do not like or feel it is unsuited for society. These people are taking away what was given to us over two hundred years ago. The amendment calls for freedom of speech, freedom of religion, freedom to assemble peacefully and freedom to petition grievances. With this being ratified in 1791, the writers knew that as the years went on it would take on different meanings, that is why it was written so generally. But if it is written so generally, why are people trying to censor things? The hardest hit industry in the war on censorship is the media. Newscasters are not allowed to say certain words on the air even though it is the exact description of what happened ...

Montezuma essays

Montezuma essays You do not lead by hitting people over the head thats assault, not leadership quoted by Dwight D. Eisenhower. This quote describes how Montezuma, the last independent Aztec ruler, and the greatest leader of the Aztecs, treated his Aztec people before the Spaniards conquest and domination of Tenochititlan. Montezuma was known as one of the greatest leaders in history. To understand more about his life, it is important to understand who the Aztecs were and their powerful empire. Knowing more about the Aztecs, then it comes to knowing about the Aztec government and Montezumas leadership life. Finally, it is important to understand the fall of Montezuma and the Aztecs to the dominating Spaniards. During the same period as the Inca Empire, the Aztec Empire dominated Mesoamerica from Mexico and Guatemala to the territories of Salvador and Honduras for nearly 100 years. This empire consisted of the native speaking people known as the Nahuatl-speakers and those of the Culhua-Mexico, who had migrated from the Pacific Northwest and inhabited the area which would become the capital of Mexico, Tenochtitlan. The people of this culture were refined workers, merchants, farmers and fishermen. Also, they were devoted worshippers of the many gods of the Sun. In this role they were responsible for providing the blood of sacrificial victims to sustain the sun in its journey each day across the sky. While human sacrifices were also offered to other gods in the Aztec empire, it was this need to maintain the sun that was the basis for the warrior religious group of the Aztec state. This cult promoted warfare as the means for taking prisoners to be offered on the sacrificial stone of th e great pyramid. Their blood provided nutrition for the sun and another day of life and light for the world. The Aztecs believed that their ancestors were not from Central America. They believed that their ancestors came fro...

Schedule and Cost Control Techniques Essay Example | Topics and Well Written Essays - 750 words

Schedule and Cost Control Techniques - Essay Example (Mochal, 2007)The benefit for this technique is the fact that it takes into account three different scenarios in order to complete the whole picture thus ensuring that project doesn't bring surprises. The basic fact behind the success of PERT is the fact that it intends to capture wider areas of estimates so that managers can have all the possible indications of how the project may behave given these conditions happen and based on their judgment and experience they choose the best estimate. Further, what is most beneficial in the use of PERT is the fact that it takes into the uncertainty related with the project. By taking into account the three difference scenarios, it tends to capture the uncertainty therefore there are very minimal chances of something going awry until and unless project encounters something which is entirely external and out of the control of the project managers. Thus PERT not only not assist and scheduling and estimating of the project but helps in making tradeoffs between project and segments. Similarly, EVM or earned value management is another tool available to project managers which can greatly help to view projects in more objective way. Essentially, EVM tends to measure technical performance, schedule performance and cost performance using one single estimation methodology. However, what is most important with this methodology is the fact that it can provide early warning signals if applied properly thus it provides a very accurate method of ensuring that if followed properly, it can help avoid the big surprises during the project life cycle. Further to this, what is more critical and valuable about this approach is the fact that it helps achieve the measurement of cost performance therefore ensuring that projects besides remaining within the technical parameters also remain within the budgets so that risk tradeoffs could be made between the whole project and the segments. This is important in the sense that It provides a better grip over the affairs of the project besides ensuring that the costs remain within the control and all the associated risks with the project are balanced with proper risk and return tradeoff. However one more important thing that EVM fail to capture is the quality of the project otherwise it tend to focus clearly on ensuring that the schedules as well as ensuring that the risk tradeoffs between the various segments of the project and project itself are well managed. Risk Metric is another tool which can greatly help to normalize the project as it can greatly help achieve to minimize the risks associated with the projects. (Ferguson, 2004) it provides the required visibility into the uncertainities related with the project thus it is most valuable in assessing and making risk return trade off in the projects besides ensuring that the costs and other estimates and schedules are properly prepared and are within the limits. "The proposed metric can be applied early and throughout the project. It has been useful for identifying or canceling projects in trouble. It has also been useful for identifying projects that do not yet have a satisfactory risk plan." (Ferguson, 2004). Further Risk Metric can also allow project managers to check the compliance of the project with the standards and procedures set in the beginning of the project. Conclusion There are various tools and techniques available to ensure that during the

Reflection about the yellow wallpaper story Essay

Reflection about the yellow wallpaper story - Essay Example The woman is suffering from a condition of nervous depression that significantly affects her social life. When she comes back to the mansion that her husband had bought, she feels that there was something queer about the mansion, which had for so long had no occupants. Her husband who is her doctor confines her in a room upstairs because as he said the treatment the woman required that she engaged in no activity and particularly forbid her from writing and working. All this was done so she could achieve mental wellbeing. Separated from any form of intellectual stimulation and only her journal the woman starts a descent into obsession. The woman gets into a kind of fixation with the yellow wallpaper on the wall, this happens to be the only visual stimulation present within the room and around her confinement. Due to the isolation, the woman begins to perceive that there was another woman attempting to break free who was creeping in the room behind the wallpaper. In a bid to rescue the imprisoned woman, the narrator tears down pieces of the wallpaper to set her free. This story reflects the social norms present in the 19th century where the feminine gender was expected to fulfill duties of being mothers and wives and be content with the dominion of men over them. Women were consequently doomed to spend solely their lives in domestic spheres. Although John can be seen the dominant villain of the story; he is just but a reflection of the society that pushed women to the lowest society level when they tried to enter the masculine

Foreign Exchange Essay Example | Topics and Well Written Essays - 500 words

Foreign Exchange - Essay Example Looking at Table ll.1(Foreign Exchange Quotations, p.5) I see that the Monday 1-month forward for the Japanese yen, using the Direct Quote, is $0.009048 compared to the spot rate of .009035. The 3-month forward is .009074 and the 6-month forward is .009124. This means that the Japanese currency is expected to progressively appreciate during this period. The indirect quote column (Japanese currency calculated in US dollar terms) confirms the expected trend, showing that gradually it will require more dollars to pay for a fixed amount of Japanese yen. I use the spot rate when I need the currency immediately. I go to a lending institution or a bank to arrange for a forward exchange contract when I need to protect the value of the US dollar against the possibility that the Japanese yen will rise in value (appreciate), and it would require me to spend more money to purchase a product priced or denominated in that currency. In this particular case, if I have to purchase Y100,000 now, at the rate of $0.009035 per yen, the amount I have to pay will be $903.50, which is obtained by multiplying these two numbers. Since the 1-month forward rate is $0.009048, the amount of our contract with the bank will be $904.80, which is higher by $1.30. A month from now, I will obtain from the bank Y100,000 at this price. I can either buy Y100,000 now at the spot market price at the rate of 1 Yen = $0.009035 and hold the currency until a month from now when I need to use it for payment, or I can arrange a forward contract which, at $0.009048, is $1.30 higher. The forward contract will protect me in case the Japanese yen appreciates. For example, if the Japanese yen, contrary to market expectations, rises to $0.009200 (or, conversely, $1 = 108.70, obtained by computing its reciprocal - i.e., 1/.009200), I will need to pay $920.00 a month from now – or $16.50 higher - because I did not hedge my position by using the forward contract. This is also

Nature in Religion Essay Example | Topics and Well Written Essays - 500 words

Nature in Religion - Essay Example Each one has their own specific historic development, which was influenced by events in world history. In terms of indigenous cultures such as Native Americans, they developed very differently compared to their other religious counterparts. They were extremely influenced by nature and the elements, which preceded the need of a shaman, compared to a priest or another spiritual leader. Shamans were important because they helped keep tradition and rituals alive and passed down the spiritual knowledge through the other members of the tribe. Like stated previously, the Native Americans’ in particular placed a great deal of spiritual and religious influence in nature. This is because many of the traditions and rituals reside in the themes of nature. Myths, such as the creation stories, result from themes in nature such as the cycles of the seasons, which undergo in the climate. Many tribes also use features such as reincarnation, which influenced by nature, shows that when we die, w e are born into a cycle of rebirthing where we come back as another creature. Shamans were also used to communicate with nature and the spirits of the world and animals. These would be invoked for good fortune for healing, for bountiful harvest and for other ceremonies (Matthews, 2008).

Cultural Differences and People Management Essay

Cultural Differences and People Management - Essay Example This study shall discuss the aspects which make up this cross-cultural awareness and sensitivity. It shall also discuss the aspects of organisational life which are particularly influenced by cross-cultural differences. Body Accomplishing any work with the assistance of other people calls for the engaging flow of data in the workplace. However, in the current diverse work setting this is difficult to accomplish. Managers would often find themselves frustrated by employees who nod at everything they say without manifesting any clear comprehension of the instructions. However, culture is a major part of people’s behaviour on the job (Gardenswarts and Rowe, 2001). It dictates the way people talk with one another, the way they speak, how they manage conflicts, how they relate with the opposite sex or with other religions, and how they participate in office activities. There are various cultural norms which impact on a manager’s reactions, including hierarchy and status; gro ups versus individual orientation; time consciousness; communication; and conflict resolution (Gardenswarts and Rowe, 2001, p. 2). Managers who do not fully understand the impact of culture in the workplace often end up misinterpreting behaviours and creating a culturally divisive workplace. There are four cultural dimensions which apply to any organization. Hofstede (1980) mentions these as: power distance, masculinity/femininity; individualism/collectivism; and uncertainty avoidance. Individualism/collectivism refers to the relations between individuals and groups within the organisation (Hofstede and Bond, 1988). For highly individualistic societies, individuals often do not exist well in the collective setting as easily as those who are in collective societies and they are expected to be fend for themselves and not to consider other people for support. On the other hand, the more collectivist groups are part of a greater group who offer support to one another (Lowe, et.al., 1988 ). These societies function in a group structure in a family setting or large regional communities. The individualist or collective culture in the organisation impacts significantly in the management of the work setting, especially in instances when the culture of the organization or the corporation is individualist (Lowe, et.al., 1988). The burden of making such an environment more engaged in a multicultural set-up is on the manager. Masculinity/femininity within the work setting refers to gender roles in the workplace and how these genders are managed and accommodated in the work setting (Hofstede and Bond, 1988). There may be differences in the values placed on men and women with male values being more assertive and female values being more nurturing. In the workplace, the manager is often faced with issues which relate to gender discrimination, including homophobia (Lowe, et.al., 1988). The demand for the manager in these instances is to make the decisions based on non-gender re lated considerations or gender-based biases. Power distance as a cultural aspect of an organisation is based on â€Å"individual interactions and communication differentials between executive and employee† (Kaskel, 2010, p. 22). Humans have the ability to accept the hierarchical structure of most situations; other times, they cannot accept these situations. Individual interact

Could the US Government have prevented the Rwanda Genocide Research Paper

Could the US Government have prevented the Rwanda Genocide - Research Paper Example While an initial misunderstanding of the situation contributed to a sluggish response, warning signs of an impending catastrophe were evident prior to April 1994. As early as 1992 there was evidence that genocide was in the planning stages, negating Western claims that the genocide was not predictable. From November 1993 to January 1994 there were more signs and signals that something terrible was about to transpire. In December 1993, Romeo Dallaire received information from various sources that something was about to occur, including: a letter from high-ranking Rwandan military officials warning of planned massacres; a press release from a bishop stating that guns were being disseminated to civilians; intelligence reports recording secret meetings detailing plans for coordinating attacks on Tutsis, opponents of Hutu power, and UN peacekeepers. Additionally, the killing of Tutsis was being encouraged while anti-Tutsi sentiment was being disseminated in newspapers and over the airwave s (Carlsson et al., 10-12). Perhaps the most famous warning of genocide came from Dallaire himself, who sent a cable to UN headquarters in New York on January 11, 1994. However, the contents of the so-called genocide fax fell on deaf ears. Despite these warnings, countries still feigned indifference when the genocide began. Regardless, international community and particularly the US were relatively well  ­informed of the conditions in-country prior to the outbreak of genocide (Burkhalter ‘The 1994 Rwandan Genocide’ 45) During the genocide the US impeded actions within the UN that would have facilitated an international response, namely by "raising one objection after another to various Security Council proposals to upgrade UNAMIR" (Burkhalter ‘A Preventable Horror’ 20). Okbazghi Yohannes, an international relations scholar, notes that, "The Clinton

Nature in Religion Essay Example | Topics and Well Written Essays - 500 words

Nature in Religion - Essay Example Each one has their own specific historic development, which was influenced by events in world history. In terms of indigenous cultures such as Native Americans, they developed very differently compared to their other religious counterparts. They were extremely influenced by nature and the elements, which preceded the need of a shaman, compared to a priest or another spiritual leader. Shamans were important because they helped keep tradition and rituals alive and passed down the spiritual knowledge through the other members of the tribe. Like stated previously, the Native Americans’ in particular placed a great deal of spiritual and religious influence in nature. This is because many of the traditions and rituals reside in the themes of nature. Myths, such as the creation stories, result from themes in nature such as the cycles of the seasons, which undergo in the climate. Many tribes also use features such as reincarnation, which influenced by nature, shows that when we die, w e are born into a cycle of rebirthing where we come back as another creature. Shamans were also used to communicate with nature and the spirits of the world and animals. These would be invoked for good fortune for healing, for bountiful harvest and for other ceremonies (Matthews, 2008).

Could the US Government have prevented the Rwanda Genocide Research Paper

Could the US Government have prevented the Rwanda Genocide - Research Paper Example While an initial misunderstanding of the situation contributed to a sluggish response, warning signs of an impending catastrophe were evident prior to April 1994. As early as 1992 there was evidence that genocide was in the planning stages, negating Western claims that the genocide was not predictable. From November 1993 to January 1994 there were more signs and signals that something terrible was about to transpire. In December 1993, Romeo Dallaire received information from various sources that something was about to occur, including: a letter from high-ranking Rwandan military officials warning of planned massacres; a press release from a bishop stating that guns were being disseminated to civilians; intelligence reports recording secret meetings detailing plans for coordinating attacks on Tutsis, opponents of Hutu power, and UN peacekeepers. Additionally, the killing of Tutsis was being encouraged while anti-Tutsi sentiment was being disseminated in newspapers and over the airwave s (Carlsson et al., 10-12). Perhaps the most famous warning of genocide came from Dallaire himself, who sent a cable to UN headquarters in New York on January 11, 1994. However, the contents of the so-called genocide fax fell on deaf ears. Despite these warnings, countries still feigned indifference when the genocide began. Regardless, international community and particularly the US were relatively well  ­informed of the conditions in-country prior to the outbreak of genocide (Burkhalter ‘The 1994 Rwandan Genocide’ 45) During the genocide the US impeded actions within the UN that would have facilitated an international response, namely by "raising one objection after another to various Security Council proposals to upgrade UNAMIR" (Burkhalter ‘A Preventable Horror’ 20). Okbazghi Yohannes, an international relations scholar, notes that, "The Clinton

Philosophy that was born during the Renaissance Essay Example for Free

Philosophy that was born during the Renaissance Essay Humanism is a philosophy that was born during the Renaissance, beginning in Florence in the last decades of the 14th century. The theory introduced new ways of thinking that allowed people to question and interpret the Bible anyway they wish. Prior to Humanism, people lived their lives under the impression that it was all to serve god. It wasn’t until people began taking an interest in the work of Greek philosophers that true appreciation of human life became apparent. Humanism inspired people to believe that their life was meaningful and that they were capable of more than just working to please God. The key principle of the theory was that â€Å"human beings are not subject to God or any divine agency. They have no obligation to love, fear or obey any such supernatural agent.† (Victor A.Gunasekara) When the importance of human life prevailed, there was no longer a strained religious perception of earth and society and this is when the freedom of art and self-expression truly took form. Art was no longer a way of glorifying God, but a way of showing individualism and creativity within ones self. The origins of Humanism can be found in the Golden Age of Greek Philosophy. Xenophanes (580 BCE) said, â€Å"If cattle had hands and drew pictures of Gods, Gods would look like cows† making it patent that Gods are of our own making. When Protagoras (450 BCE) wrote, Man is the measure of all things, of things that are that they are, and of things that are not that they are not. he was accused of impiety and was banished for creating such freethinking sentiments that would be considered thoroughly unorthodox for his time. His words are metaphorical of us ‘knowing the world by our own proportion, from our point of view.’ He crafted the idealistic principle of human perception that shaped the humanism philosophy we know today. Humanism was not limited to mental thoughts and ideas on the value of human life, but shown physically through a spectrum of art mediums. The theory shaped various aspects of Renaissance art including the content, style and subject matter of all art forms. During the middle ages, well before Humanism took form, art was notable for glorifying and praising God. During this time, all art was assigned from the church and so the subject matter consisted of mainly biblical themes, stories and characters. Within these paintings, man wasn’t portrayed with anatomical accurateness, but as a small, off scale and minor element next to a much larger religious figure. Within almost all of Middle Age artworks, biblical figures were seen is the most powerful and most important; and so they were made to look exceedingly larger than people or children, who were painted on a much smaller scale. The importance of these religious figures was also shown through height and placement within the picture. They were often painted higher than other figures, adding to the overall impersonal and symbolic outlook of Middle Age art. Because most of the work at this time was so religious, people weren’t able to connect and view art for the purpose of enjoyment, but for worshiping a higher presence. Take the Ognissanti Madonna (1310) for example. The painter, Giotto, depicts Mary and her son with saints surrounding them. They’re portrayed as very large, while everyone else in the painting is very small. Neither of the two are life size nor are they anatomically accurate. However the most obvious aspect within the painting is the overstated size of the two most important biblical figures, Mary and Jesus. This was the conventional style of Middle Age art. The value of human life was never considered, nor was it illustrated through paintings or sculpture. During the late 14th century, Artists began looking at natural depictions of the world and ancient pagan culture. The notion of human form that characterized medieval art was supplanted with the concept of full anatomical accuracy. With the celebration of human life, precision of the human body within paintings and sculptures became a crucial part of depicting the realistic perception within art, one that was not justified by any singular religious context but ones desire for perfection. People began painting secular subjects and portraying man with the same importance that was used for religious figures within the Middle Ages. When the prominence of human life prevailed, people began taking an interest in the accurate portrayal of human characters. This provoked a range of pictorials to be created in parallel with the human form, reflecting the balanced and symmetrical form of the human body in art. Artists began creating precise proportions or the ’golden mean’ in order to establish symmetrical and harmonious composition within a varied spectrum of art mediums. The Golden Mean is the desirable middle between two extremes and is given the number Phi(= 1.618033988749895†¦) Commonly known as the ‘divine proportion’ to Renaissance artists, the Golden Mean was used for atheistic appeal and balance within architecture, but was often used effectively for other visual art forms, such as paintings or sculptures. Collective to the Greek mentality, the golden mean was considered an attribute of beauty that included symmetry, proportion and harmony. The Golden Mean can â€Å"be derived with a number of geometric constructions, each of which divides a line segment at the unique point where: the ratio of the whole line (A) to the large segment (B) is the same as the ratio of the large segment (B) to the small segment (C).† (http://www.goldennumber.net/golden-section/) Paintings, buildings and sculptures adapted and drew inspiration from classical roman structures (a time when the Golden Mean was recognized To Greeks as dividing a line in the extreme and mean ratio) during the High Renaissance period in order to interlace the crucial ascetic appeal that was desired when Humanism was at great interest. High Renaissance style architecture conventionally begins with Donato Bramante (1444-1514) who built the Tempietto at S.Pietro in Montorio, Rome in 1510. The Tempietto ‘’is an attempt at reconciling Christian and humanist ideals’’. With no limitations of Humanism on any particular art medium, Michelangelo’s sculpture of David in (1501) is a perfect example of its boundless effect on accurately conveying the human body with precise proportions and measurements. Other works relating to Humanism included The Birth of Venus (1485), by Botticelli. Prior to Humanism, the majority of art appeared two dimensional or flat. These artists were one of the first to begin adding vast details and highlighting the illusion of space, form and dimension in all art mediums. Combining these and taking into mind perspective (the notable technique of all Renaissance artworks) they ultimately crafted the image of humanist art; molding the backbone of the High Renaissance. In order to embrace this philosophy within art, artists needed to explore the relationship between the human body and mathematics. These artists are one of the many from the High Renaissance period to articulate this relationship physically through multiple art forms. Before the High Renaissance, there was Early Renaissance. During the mid 14th century, architects such as Leon Battista Alberti and Flippo Brunelleschi began taking an interest in proportion. The concept was that a building should be â€Å"fitted together with such proportion and connection, that nothing could be added, diminished or altered, but for the worse.† (Alberti) The rising theory of proportions was looked into by a number of artists and many architects such as Alberti and Brunelleschi over a long Period of time, but it wasn’t until Leonardo da Vinci’s Vitruvian Man (1490) that people started to take it seriously. Not limiting himself to just art, but exploring the realms of math, music and science, da Vinci used his experience and knowledge to establish the link between art and mathematics. Some would say that his work acted as a catalyst towards the start of the High Renaissance and that he was able to pave the way for painters, sculptures and architects that were interested in creating realistic dynamics of human proportion within their art medium. When Michelangelo was commissioned in 1501 by the Board of Works for Florence Cathedral to sculpt David from marble, he used the opportunity to illustrate the true growth of the art movement and the influence of Humanism on various art forms. Michelangelo works against the medieval concept of humanity, a time where man was seen as sinful, immoral and ‘born of dirt’. He shows David before the fight, highlighting his ability as a human to make conscious decisions and a choice to commit himself to act. This depiction of man is one who can become godlike through his own intellect and power of will. Compare this David to Donatello’s David, made out of bronze during the 1440’s. Donatello depicts David as a young boy, looking rather effeminate in a shepherd hat and boots. He’s shown with a smug smile and his foot on Goliaths severed head subsequent to the battle. Donatello’s version of David is an interpretation of the biblical text. His feminine like physic serves the purpose of clarifying that his triumph in throwing the stone at Goliath was not of his own doing, but rather God’s will. He is created very close to the biblical story, having hat and boots typical of a shepherd, where as Michelangelo’s David’s complete nudity shows how he has stripped almost all biblical context from him, focusing entirely on the human entity. He is no young, scrawny boy that follows God blindly, but a man with the ability to make his own choices and fight his own battles. His full nudity shows the true beauty of the human anatomy, which fascinated Michelangelo. Not only has his work shaped the perception of humanity through symbolic catalysts, but through the riveting recreation of the human form with accurate proportions, illustrating the perfect use of the golden mean. It is clear that a grave amount of thought and work went into creating an accurate insight towards the human body. David’s hands and upper body are made slightly larger in order for the human form to look accurate and proportional when seen from the ground. The truthful portrayal of vein and muscle within the body highlights the humanistic elements within the sculpture. In contrast to this, Donatello’s David looks quite unusual and incongruous, although he was sculpted at a younger age than Michelangelo’s David, their anatomical differences are distinct in a way that can’t go unrecognized. Donatello’s work shows shoulders and a chest that are diminutive and slightly disproportioned to the rest of the body. Prior to Humanism, there wasn’t this striving focus for anatomical excellence within art for anyone unless they were a religious character holding the supremacy over man kind that everyone once believed they had. His work on David provided the humanist vision with its first and most prevailing artistic expression. He’s shown as a strong and heroic man, not a smug boy as shown in Donatello’s sculpture. The Birth of Venus, painted by Bottichelli in 1486 is a celebration of Renaissance Humanism, depicting the classical myth. The picture is very calming and somber, focusing on the true beauty of Venus with warm and soft tones. Venus, Goddess of Love, is shown emerging from the sea on a shell, parallel to the story of her birth. There is an emphasis on sea imagery that was used to please church authorities. Zephyr and Chloris are blowing her to the shore with wind, amongst a shower of flowers, while a Nymph, Flora, is reaching out to cover her naked body with a cloak. The nudity of Venus was very unconventional at the time; primarily, pictorials of naked women were only shown through portrayals of Eve; but here Venus stands; completely naked and not in a biblical context. In a time when almost all artwork was of Christian theme, the honest portrayal of Venus and the secular imagery had a crucial impact on High Renaissance art and was a catalyst for other artists to explore humanistic elements within their work. Venus, the goddess of love is depicted in human form with such magnificence and accuracy that humanist themes are not suggested, but a manifest to Botticelli’s audience. Godly figures began taking form of earthly beings and showing the true exquisiteness of the female body. There is a de-emphasis of deep space in order to stress the sense of pattern and beauty that defines the painting. Flora is not giving the cloth for just modesty, but giving her the ‘veil of wisdom’. She shows us how great intellectual gifts are always concealed from plain sight. Botticelli’s portrayal of the female body is used to further drive ideas of Humanism. Her physique is quite an accurate and refreshing portrayal compared to earlier years were nudity was not yet established in non biblical paintings. Her stomach is a truthful portrayal of what a women with some muscle tone in her abdomen would have, the legs and arms are somewhat shapely, showing the female body in its most natural form. Venus in this painting is both humble and pure. It’s plausible that one of the main themes within this painting, second to Venus’s birth; is the idea of beauty. The picture has a decorative quality to it; not only does it showcase the substantial change in art during the High Renaissance, but its symbolic of a rich classical history, reinvention and an earthly world view. It is through The Birth of Venus, and many other High Renaissance paintings, where the true impact of Humanism is made clear. Artists would incorporate Greek and Roman mythology as apposed to writing and painting about biblical texts. This was because humanists turned to the classics for inspiration, and so these were often the themes of High Renaissance art. The inspiration of Greek Philosophers inspired those within this period to strive less for divinity. This painting is one of the many to depict Roman or Greek deities, other famous works include Mars and Venus and The School of Athens. One of the most outstanding changes during the High Renaissance period was Architecture. The statement that man is the measure of all things is mirrored within different art mediums, showing a great point of difference within humanist and non-humanist architecture. Humanism meant that architects built not only churches, but palaces and buildings exposing ideals of classical styles. Humanism gave people a chance to look for inspiration from ancient Greeks and thus buildings took influence from the Ancient Classic period. One of the highlights in High Renaissance Architecture is the Tempietto, built in 1502 by Donato Bramante. The building marks the crucifixion site of St Peter and follows selected traditions from the Christian building the Martyria while employing classical principles that create a geometric ideal. Both ancient Greeks and ancient Romans employed the circular plan that governs the perception of the Tempietto. The devotion to symmetrical perfection makes it clear of Bramante’s conscious decision to recreate this in a way that is not only true to the humanist theory, but one that depicts the thoughts of the ancient roman writer Vitruvias, who studied and wrote about architecture and correct proportions within it. Bramante is really following this line of thought with the Tempietto. He’s created a radial building with a round structure that is very dissimilar to the traditional crucifix form of church, which is based on the ancient basilica. His work is considered almost nothing short of architectural brilliance, due to his innovative techniques at changing the orthodox designs of churches and buildings. The building is the perfect example of the relationship between ideal ancient geometry and the divine. Geometry was thought by the ancient Greeks and again later in the Renaissance to be a vehicle in which we can imagine the perfection of heaven. The Tempietto is a building that truly celebrates Humanism. It’s believed to show how man can produce exemplars on earth of the perfection of the heavenly, using correct geometrical structures and symmetrical portrayals. This is similar to that of the golden mean, while relating to the work of Michelangelo and Botticelli, where Humanism was celebrated through the accurate portrayal of the human form. The Humanist theory allowed Bramante to make these changes within architecture; he drew inspiration from classical traditions while making his own original decisions to enhance the symmetrical nature of the Tempietto. His work is similar to that of classical origins, but he allowed for variation. Greek and Romans would not put pilaster that pairs with the columns of the building, however Bramante did. By aligning the true columns with the false columns, he was able to maximize the radial quality and overall centrifugal theme of the building. The Tempietto shows a rhythm, one that was definitely inspired by classical antiquity, the Doric Order in particular. The columns of the Tempietto are a roman variant of the first level of the Coliseum. Depicting the styles of the Doric Order, there are triglyphs and metopes above the columns. Mitchell Beazley was literal when he wrote; â€Å"The emphasis here is on the harmony of proportions, the simplicity of volumes (cylinder, hemisphere) and the sobriety of the Doric Order. The circular plan symbolizes divine perfection. Inspired by ancient temples, the Tempietto is both a homage to antiquity and a Christian memorial. Humanisms affect on architecture was one of the largest. Despite differing in architectural elements, different styles of columns were explored throughout all High Renaissance architecture, utilizing techniques that show proportion and highlighting themes of classical tradition. Nearly all buildings constructed after Humanism follow these principles and show a vivid influence of ancient Greek and Roman cultures. The Humanist movement allowed architects to make changes in what they were creating. They drew inspiration from classical architecture, traditions and even philosophies and refabricated it within new architectural masterpieces that shaped the Humanist theory in many inconceivable ways. Alberti and Brunehlleschi were a crucial aspect in the innovation of humanist architecture. They were no Greek philosophers, however they employed the idea of symmetrical excellence and inspired the creations of many renowned and prominent buildings including the Tempietto itself. Many great architects of the high renaissance period such as Bramante and Michalangelo were captivated by this idea and were thus able to shape traditions and techniques to produce the conventional high renaissance architecture style that we’re accustomed to today. Inclusive to classical traditions, architects began taking the beauty of human proportions and reflecting it through architecture, similar to the way humanist painters and sculptors depicted the human form with symmetrical perfection. Humanism was noted for 3 things. The revival of classical Greek/Roman art forms and styles, faith in the nobility of man as apposed to pure worship of religious or god-like figures; and finally the appreciation of the human body, that influenced almost all artists and architects of the era to portray this accurately in their work. Humanism shaped the art of the High Renaissance period through a change in architectural style and content; subject matter of paintings and sculptors; and a difference in the anatomical structure and proportions of man. People became important and an appreciation for human life fell apparent through a range of art where human history and perspective was no longer considered sinful, but was explored multiple times with a range of artists. Humanism provoked the study of classical and mythological traditions. Paintings began to depict Roman or Greek deities. Biblical figures no longer subjugated artworks with height and proportion, but became equal to man. Sculptors began creating humanist characters that were strong and noble, architects began referring to classical and ancient antiquity for new innovation towards humanist architecture†¦ the freedom of thought and self expression was at its highest.

Review On The Capital Structure Debate Finance Essay

Review On The Capital Structure Debate Finance Essay Corporations fund their operations by raising capital from a variety of distinct sources. The mix between the different sources, generally referred to as the firms capital structure has attracted considerable attention from academics and practitioners. Debt and equity are raised by firms to finance new investment projects. As such, both of them are sources of funds for the business. Debt usually consists of bank loans either long term or short term whereas equity consists of stocks and bonds. Hence, capital structure refers to the mixture of debt and equity finance used by a company to finance its activities. The correct choice of the mix of debt and equity is questionable. Financial managers problem is to find out the combination of securities that have the greatest overall appeal to investors. Moreover individual firms often change their debt ratios over time, perhaps responding to changes in investment opportunities, agency costs and so on. According to R Charles Moyer, James R. McGuigan and William J. Kretlow (1982), leverage is closely related to capital structure in the financial field. 2.1.1 Importance It is found that there are basically three types of financing decisions taken by firms namely the (i) the distribution of earnings which is the consumption decision, (ii) the capital budgeting decision,i.e, the investment decision and (iii) the capital structure decision. The capital structure decision is fundamental in order to carry out the other two financing decisions, i.e how much cash should the firm lend or borrow in order to carry out the consumption and investment decision. The capital Structure decision is important since profits of various organizational constituencies are maximized as well as the organization is able to deal with its competitive milieu. 2.2 Theories of Capital Structure 2.2.1 Traditional View The traditional view specifies that when a firm uses the right mix of debt and equity, the lowest its WACC, the more it will maximize the firms value due to the tax advantage of debt. If a firm wants to make an optimal capital structure decision, it will have to choose those sources of finance that gives the lowest cost of capital which will in turn lead to the lowest WACC. However, it is to be noted that as gearing increases, the cost of equity and consequently the bankruptcy risk will increase which will in turn lead to an increase in the cost of debt. However, the validity of this theory has been criticized since there is no underlying theory which shows by how much the cost of equity should increase due to increased leverage and by how much the cost of debt should increased due to increased in bankruptcy risk. 2.2.2 Modigliani and Miller Theory In their landmark paper in 1958, the Modigliani Miller Theorem (Modigliani and Miller, 1958, 1961) says that the value of a firm and the investment decisions should be autonomous from its capital structure. In other words, leverage should have no effect on investment decisions. However, the Modigliani Miller Theorem assumes a world with no taxes, information asymmetries or agency costs. Assuming perfect capital markets, they propounded to what is today widely known theory of capital structure irrelevance which means that the capital structure that a company chooses does not affect its value. Later theories argue that leverage clearly can matter due to the effect of taxes, information and agency costs (Myers, 2001). Later, in 1963, Modigliani and Miller took taxation under consideration and proposed that companies should employ as much debt capital as possible in order to achieve the optimal capital structure. Along the lines with corporate taxation, numerous studies also analyzed the case of personal taxes imposed on individuals. Miller (1977) suggests tax rates in the tax legislation of the some of the OECD countries that evaluate the total value of the company. These are the corporate tax rate, the tax rate on income in the form of dividends and the tax rate on interest income. According to Miller, the value of the company depends on the relative percentage and importance of each tax rate, compared with the other two. With respect to theoretical studies, there are two widely acknowledged competitive models of capital structure namely the static trade off model and the pecking order hypothesis. 2.2.3 Tradeoff/ Static Theory This approach presents capital structure as a balance between positive and negative effects of leverage respectively linked to a firms tax advantages and financial risk. The trade off theory introduces into the capital structure debate the benefit of the debt tax shield on one hand and the cost associated with financial distress on the other. The implication of this theory is that each firm has an optimal debt ratio that maximises value, although this level may vary between firms. Moreover, the trade off theory is often further extended to incorporate agency considerations. This is in the spirit of Jensen and Meckling (1976) who note that debt is valuable in reducing the agency costs of equity but at the same time debt is costly as it increases the agency costs of debt. However, there are factors that this theory cannot explain such as why companies are generally conservative in using debt finance, for example, some successful companies such as major pharmaceutical manufacturers continue to operate with low leverage. Furthermore, this theory cannot explain why leverage is negatively related to profitability as reported by Myers (1993), Titman and Wessels (1988) and Fama and French (2000). 2.2.4 Pecking Order Theory Pecking Order Theory is considered as one of the most influential theories of capital structure According to Myres (1984), this theory advocates an order in the choice of finance due to different degrees of information asymmetry and related agency costs embodied in distinct sources of finance. As such, retained earnings are used first since they constitute the cheapest means of finance, hardly being affected by any information asymmetry. Second, debt is used as there is low information asymmetry due to fixed obligations acting as an effective monitoring device. Finally, external equity is used only as a last resort as it conveys adverse signaling effect as explained by event studies. This theory also claims that there is no optimal capital structure that maximises the firms value. The attraction of interest tax shields and the treatment of financial distress are therefore assumed to be second order of importance, because debt ratios change when there is an imbalance of internal cash flows net of dividends and real investment opportunities. Profitable firms work down to low debt ratios, while those whose viable investment opportunities exceed internally generated funds tend to borrow more and more. The pecking order form of financing is also influenced by information asymmetries which are where investors make inferences about a firms prospects based on managements financing decisions. A positive impact on the share price only occurs if management chooses to refinance with debt rather than equity, because the firms prospects are then viewed as being good (i.e. by investors). Managers thus avoid the alternative scenario (a decline in the share price due to new equity issues) by maintaining a borrowing capacity or financial slack that consists of retained earnings and/or marketable securities. 2.2.5 Agency Theory Jensen and Meckling (1976) pinpoint the existence of the agency problem which arises due to the conflicts either between managers and shareholders (agency cost of equity capital) or between shareholders and debt holders (agency cost of debt capital). Promoters with major shareholding usually consider the impact of raising funds via equity financing. However, more equity shareholders would imply a dilution of control. Therefore, in order to retain control over management, some firms prefer debt financing. Theory supports that leverage matters due to the effect on agency costs. Leverage is predicted to reduce the agency costs from the manager-shareholder conflict; thereby mitigating the investment inefficiency resulting from this conflict. The Free Cash Flow theory (Jensen, 1986) suggests that debt reduces the agency cost of free cash flow. He also argues that, since debt commits the firm to pay out cash, it reduces that amount of free cash flow available to managers to engage in self interest activities. Debt financing ensures that the management is disciplined to making efficient investment decisions which will maximize the firms value and that they are not pursing individual decisions which will increase the profitability of bankruptcy. The mitigation of the conflicts between managers and shareholders constitutes the benefit of debt financing. Furthermore, Jensen argues that debt also imposes strong control effects on managers. Debt holders can exert a stronger control of the firm than shareholders. A promise to shareholders to payout a certain amount in dividends is considered weak since it is not binding (dividends can be reduced in the future). Debt creation, however, forces managers to effectively bond their promise to pay out future cash flows. The debt holders have the right to take the firm to bankruptcy court if the firm cannot make its debt service payments. The threat caused by failure to make debt service payments serves as an effective motivation force for managers to make their firms more efficient. Thus, through the reduction of free cash flows and control effects, leverage is presumed to mitigate the manager-shareholder conflict and overinvestment. According to Harris and Raviv (1990), the role of debt in allowing investors to generate information useful for monitoring management and implementing efficient operating decisions. Debt-holders use their legal rights to force management to provide information. The optimal amount of debt is determined by trading-off the value of information and opportunities for disciplining management against the probability of incurring costs. Monitoring costs would be incurred by debt-holders to ensure that the managers do not increase the risk of the firm by investing in risky projects. However, by investigating in risky projects, free cash flows can fluctuate and debt holders might not be paid. To prevent this, banks will have to monitor the firm and will thus impose a number of conditions, for example, the firm will keep a particular liquidity ratio as decided by the banks analysis. Subsequently, the cost of debt will increase since it will include the agency costs. As a result WACC will increa se and eventually the value of the firm will decrease. Hence, the firm will not be able to take maximum of debt since the cost of debt will increase because of the monitoring costs that have to be adhered to. Therefore, firms with relatively higher agency costs due to the inherent conflict between the firm and the debt-holders should have lower levels of outside debt financing and leverage. 2.2.6 The Signaling Hypothesis The Signaling Theory is based n the assumption that managers possess superior knowledge as insiders as opposed to outside investors who know much less about the economic health of a firm. This hypothesis suggests that managers may choose financial leverage as means to send signals to the public about the future of the company. Ross (1977) claimed that greater average financial leverage is used by managers to signal an optimistic future about the firm. Furthermore, Leland and Pyle (1977) argued that an owners willingness to invest in his own project conveys a positive information to the market since it can be used as a signal for project quality. 2.2.7 Bankruptcy Cost Arguments against/For debt (put I table in Appendix in case in excess)