Ancient History: Cities of Vesuvius

Using Source A and B and your own knowledge, describe the main features of the economy in Pompeii. -The some of the main features of the economy in Pompeii consisted of: Trade, Commerce, Industry, Occupations, and Public Works. -Trade: Pompeii was the port for Nuceria and Nola, which made it the trading centre for mainly agricultural produce. There are suggestions for the size and nature of the port but this is determined on whether it was a sea port or a river port. Pompeii played an important role in the economy of the Campanian region. Commerce: There were plenty of shops in Pompeii, but the evidence to what was sold in them is very little, and archaeologists can hardly determine what was sold in them. Some shops that have been determine though are: a masons shops and a carpenters shop, both these shops were determined through paintings that had both masons and carpenters tools on it. Markets were important as well. The macellum which was located in the Forum and sold meat and fish. The forum featured a courtyard, a colonnade and a row of shops. The evidence that supports the macellum is fish bones and scales found in a drain beneath the forum structure. Although, not all shops or markets had permanent locations. Evidence from the praedia or estate of Julia Felix makes it clear that there were temporary stalls that sold goods such as shoes, or metal vessels. There were plenty of bars and inns in Pompeii and were mainly located on the main roads and near the gates. The many thermopolia (Source B) acted as bars, the dolia or large terracotta pots embedded in the counters of these shops are generally acknowledged as food or drink holders. Buildings identified as inns have been locate near the Nuceria Gate and the Forum. They consisted of courtyards and upper floor rooms. Industry: Industry played an important part in the economy of Pompeii. Agriculture, Wine and olive oil production were predominant. Pliny once stated ‘more skill was needed to produce olive oil than wine, because the same tree produces different kinds of oil’. The green olive was the olive that had the outstanding taste, and was used mainly for olive oil production. Most of the pressing of oil (Source A: Olive Press) was done in the rich estates, but some were found in Pompeian houses and the Forum granary. Generally presses had to be warmed with large fires, and Cato once stated â€Å"Pompeian presses built from lava stone were the best’. Once olive oil was pressed it was sold at the Oblitarium or oil markets. -Occupations: There is a large amount of evidence from Pompeii concerning the varied occupations of the population. Pompeii had a large community of artisans which included: artists, metalworkers, potters and glassblowers. There were tradesmen, wealthy merchants, manufacturers and service industries employing bakers, innkeepers, bath attendants and brothel keepers. Some evidence to support these occupations are the artworks from Pompeii that depicted cupids engaged in the various crafts and occupations of the townspeople.

The largest bakery

IntroductionGREGGS is the largest bakeshop retail merchant in UK. The historical company foremost founded by John Gregg in 1939, and opened its first store in 1951. After about 60 old ages enlargement, it becomes a nutrient land supplying big scope of fresh nutrient for 5 million clients every hebdomad in over 1,400 net stores. During this period, a little bakeshop store became a nutrient giant with to the full developed distribution centres providing freshness and quality nationally. Meanwhile they besides faced obstruction on their manner to multinational. The failure in Belgium is a warning of their enlargement. As the purpose to decide the impact from economic recession, 10 Belgium stores were resolutely closed in last twelvemonth. The study analysis GEREGGS ‘ public presentation in 2008 from their one-year study, and measure its attraction of investing.Fiscal PerformanceBased on the Amalgamate Income Statement ( line 1 Appx. 1 [ Page 5 ] ) , the entire gross revenues ended 27 December 2008 increased by 7.1 % to & A ; lb ; 628.2 million ( compared to & A ; lb ; 586.3 million in 2007 ) , including a 4.4 % rise of like-for-like gross revenues growing. At the same clip, the distribution and merchandising costs rocketed from & A ; lb ; 278.7 million ( 2007 ) to & A ; lb ; 306.6 million ( 2008 ) , by 10 per centum. On the contrary, the net income before revenue enhancement reduced from & A ; lb ; 49 million to & A ; lb ; 45.1 million ( Line 9 Appx.1 [ Page 5 ] ) , a decrease of 7.8 % excepting belongings additions, restructuring costs and exceeding pension recognition, which is non really satisfactory but still acceptable under such fortunes, the clients are delicate and losing assurance. Meanwhile, the operat ing net income dropped by 2.6 per centum to & A ; lb ; 48.6 million ( 2007: & A ; lb ; 49.9million ) . Partially for the ground of the higher Significant addition in energy and ingredient costs therefore more dearly-won of the distribution and merchandising. From the figures above, 23.6 per centum of its hard currency flow contributed to assets. 41 net stores freshly set up in 2008, which are somewhat more than 34 in 2007. Second, the P/E ratio in 10.5 % is still acceptable during the vulnerable economic period of planetary crisis. Third, as a company supplying fresh nutrient, the stock list turnover was keeping at a typical high degree. What ‘s more, the working capital of company is lower than favourable line, nevertheless it dues to the low stock list and to the full usage of hard currency. Finally, the ROA and ROE ratio were keeping singular at 15.4 % and 23.0 % severally. As a investor, GREGGS is an perfectly attractive pick.PositionHarmonizing to the appraisal of GREGGS ‘ fiscal public presentation, a satisfactory consequence was obtained. The entire gross rocketed above 7 per centum, although the net net income is somewhat declined compared with 2007. The economic crisis created series of concatenation actions to the c ompany ‘s day-to-day operation. Since the significant additions in natural stuffs, a higher cost of gas, electricity and fuel straight impact on production and distribution. Meanwhile indirect effects besides raised the cost throughout the supply concatenation. What ‘s more, the increasing cost of ware affected the cost of its indispensable constituents of merchandises, such as flour, meats, wheat, and so on. In order to cover the impact of planetary rising prices, GREGGS improved their efficiency and made accommodation on selling monetary value. Although it is a manner to keep gross, a hazard of disputing clients ‘ trade name trueness merged from such action. Obviously they conquered it good by effectual work on quality, freshness, gustatory sensation and friendly service. From the figures of last Chapter, the Quick ratio besides named Acid trial is a portion of measuring liquidness in short term. It indicates if a company has adequate short-run buttockss to cover its current liabilities. A favourable figure in most of industries is 1:1, but for a nutrient company running under a tight liquidness ( Acerb trial: 36.7 % ) is besides a common happening. Another portion is long term, which is besides called Gearing ratio, measures the relationship between long term liabilities and stockholders ‘ equity. 19.3 % ( Appx.2, Cal. 19, P12 ) is an acceptable degree for stockholders, the involvements on long term debts is controlled to some extent. The company was besides engaged on betterment of their methods of bring forthing nutrient. For a long clip, GREGGS bakeshop made a bulk of its merchandises under its ain formulas, therefore a considerable regional fluctuation. In the last twelvemonth, they implemented a programme in order to consolidate their merchandises. By the terminal of 2009, 80 per centum of merchandises would be harmonized across the state. At the same clip, they responded effectual on clients ‘ demand. Set repast on lower monetary value and inventions of new spirit were introduced to consumers. Equally good as welcomed pieces such as hot sandwiches and pesto baguette would be expanded into more net stores. Besides the chief service they provided, GREGGS made a singular part on societal duty. Firstly it provided a favourable working environment and competitory intervention to employees. They provide scope of public assistances such as, private medical intervention, psychological advisers, and wagess for people. Second, a scheme named ‘ Making a Difference to Communities ‘ is good performed. The GREGGS ‘ Trust founded in 1987 was still running good on roll uping financess to back up local charity. In 2008, they raised and distributed & A ; lb ; 1.8 million assisting local communities. The GREGGS Breakfast Club is supplying free, healthy nutrient for over 6,000 primary school kids. The activities of bettering their merchandises help GREGGS with its selling place, and the repute from taging a difference to communities helps them with their societal positon. Based on the company ‘s satisfactory public presentation on fiscal place, the sensible mark of following twelvemonth would be good accomplished.Cash FlowTake a glimpse at the Cash Flow statement ( Appx.1 Page 7 ) , ( 49 ) hard currency generated from operations was & A ; lb ; 44 million, a 28.6 % decrease by & A ; lb ; 62 million ( 2007 ) , & A ; lb ; 41 million is contributed to ( 50 ) acquisition of belongings, works and equipment compared with & A ; lb ; 42 million in 2007, and ( 59 ) cyberspace hard currency from funding activities was & A ; lb ; 36 million ( 2007 ) to & A ; lb ; 15 million ( 2008 ) . First of wholly, 56.5 % of financess obtained from operations and finance activities were used in investing. Harmonizing to company ‘s program in 2009, there will be an enlargement of net stores. The proportion will travel up. On the other custodies, 7.1 per centum of its hard currency flows were generated from gross revenues. Compared with 10.5 % ( 2007 ) , the increasing cost of natural stuffs contributed to this difference. Last of all, the operations Cash Flow to Current Liabilities Ratio was 96.8 % in 2007, reveals less hard currency influxs therefore more investing of capital.Decision and RecommendationTo sum up, as the biggest nutrient retail merchant, it suffered a respectable impact from increasing universe rising prices. Without inquiry, the twelvemonth 2008 is a important point at GREGGS flight, where they accomplished an acceptable public presentation. In the following twelvemonth, a program of simplifying operations and doing farther enlargement is good prepared. A s figures mentioned before, GREGGS was keeping a comparatively high volume of stock list to equilibrate the impact of lifting cost of stuffs. Under the economic background is unbending up, it would be better to runing at low stock list. Their first measure of fiscal accomplishment in 2009 is a 3.2 per centum of addition in entire gross revenues and a 1.0 per centum of like-for-like gross revenues growing by 7th March, 2009. Sing the conditions influence on their gross revenues, it is a sensible aim. However they underestimated the recovery of the economic position and consumers ‘ assurance.MentionsGreggs Annual ReportDun & A ; Bradstreet Industry and Financial Consulting Services.Industry Norms and Key Business Ratios. Murray Hill, NJ: Dun & A ; Bradstreet Industry and Financial Consulting Services, 2002.Investopedia Dictionary. 14 May 2003. & A ; lt ; hypertext transfer protocol: //www.investopedia.com & gt ; .How do I measure a company ‘s fiscal public presentation? Rollins College Olin Library. & A ; lt ; hypertext transfer protocol: //tars.rollins.edu/olin/businessresearch/fin_perform/index.shtml & gt ;

Man Is Known by the Company He Keeps Essay

Man is a social creature. None can live alone, away from the society of his fellow being, like shipwrecked Alexandra Selkirk who aspired for company in the lonely island. It is always very natural for him to seek the company of others. Even when all his immediate physical needs are met, he must have someone to talk to enjoy himself with. At home he has his near and dear ones by his side. But that is not enough. He must have other companions— friends to whom he can unburden his heart and with whom he can exchange his ideas and share his enthusiasm. Hence, we must intimately associate with others; we must do so that our friends may come to exert a great deal of influence over us, on our character and conduct. Man is by nature imitative, and he will often be led to imitate others. For good or for evil, others very often lead and guide us. They may mould our tastes and interest, and shape our character. We become good or bad as our friends are. For instance, if a man is virtuous and honest, he will by his speech and conduct inspire his friends with goodness and honesty. Similarly, if our friends are wicked, we may follow them do as they do and become wicked ourselves. Naturally, we cannot blame people if they judge us by the company we keep. The same boy shapes differently if placed in different companies. Furthermore, no companionship, at least no lasting companion ­ship is possible unless the parties have similar tastes and interests, likes and dislikes. It is like the magnetic affinity. A man who is bad in instinctively drawn to those who are similarly bad. It has been most truly said that birds of the same feather flock together. Here also the character of our companions is an index of our own character. If he does not show his dislike nor try to avoid uncongenial company, having found undeserving, he will surely, in course of time, become quite as bad as his friend. It is quite axiomatic that one who is virtuous will shun the company of those who are given to the ways of vice. He will try to make friends with those that are good and on the right path. Companionship thus is a positive factor not only in the formation of character but in the estimation of man’s true worth. It is at once an influence on character and a measure of one’s real worth. A man is often judged by the collective quality and identity of his group. Nobody will believe that a particular robber of the gang is honest. As we are drawn to men who feel and act like ourselves and we are influenced by them. An estimate of the moral character of an individual can easily by made in reference to that of his companions. He cannot be different from his friends. So we conclude that he is what his friends are. Just as one rotten mango spoils the rest in the basket, similarly one wicked man corrupts a lot of friends. In the choice of our companions, we must be cautious and careful because on this choice depends so much. Before we make friends with others, we must watch their conduct and know what kind of men they actually are. But as children do not know what is right and wrong, parents must see that boys and girls do not fall into evil company. This task should begin at school, — in the formative years of a boy or girl.

Personal & Career Development Programme Essay Example | Topics and Well Written Essays - 750 words - 1

Personal & Career Development Programme - Essay Example A business model will hence serve as a link between business experts and technical experts to help them understand their roles. In addition, a business model is a significant determinant of making profits accrued from an innovation. Therefore, a business model often attracts a multitude of many business subjects like economics, strategy, operations, entrepreneurship, finance and marketing (Bradford, 2009). Moreover, the main reason why  a given ordinary innovation along with a strong business model often tends to be more profitable compared to a leading innovation whose business model is a mediocre (Bolman 2004). Barlow (2007) explains that a business model has six components, which enables it to be effective, as well as efficient; these components include: Value proposition – this is a depiction of customer problems, products that deal with this problem, as well as the value of the product in view of the customer. Market segment – this is the target group of the cust omers, acknowledging that every market segments have their own distinct need. In most cases, the capability of an innovation is realized by targeting different market segment. Value chain structure – this is the company’s position, along with the value chain, and how the company intends to occupy the element of the principles it establishes in the chain. Revenue generation and margins – this involves the ways that income is generated like sales, subscription etc.; target profit margins, and the cost structure. Position in the value network – this is the identification of competitors, as well as any network results that can be used in delivering more value to customers. Competitive strategy – these entail ways in which the company will attempt to create a prolonged competitive advantage e.g. by striving to be different from other companies (Piro, 2000). An illustration with the help of a case study is the best way to describe ABC Corporation, along with its ABC Model 999 copier, in relation to its business model, products or services, potential development, as well as the customer base (Hoque 2000). The Model 999 often utilized the relativity of higher electro-photography process, a dry process that often dodges the utilization of using wet chemicals (Rainey, 2005). In its attempts to look for potential partners, the ABC Corporation became repeatedly turned down by many leading companies who perceived that technology they had did not have any future especially with the use of the business models (Bradford, 2009). Although the technology was exclusive to first copy systems, the cost of the system at that time was extremely high since it was six to seven times higher than other technologies (Webber, 2010). The issue of selling a given system at lower cost so as to be adopted by many companies then came into place and had to make a decision or else be faced out of the market. This challenge had to come with them also need to make huge profits at that time and to incur their expenses too. They also got suppliers that could supply them with supplies that were identical to theirs, but at cheaper cost (Brinckloe, 2001).

What are the benefits of using simulation to teach nursing Essay

What are the benefits of using simulation to teach nursing - Essay Example Additionally, simulation display actions, conclusion and important opinion through techniques like role playing, use manikins and videos to enhance confidence and clinical skills at multiple levels of nursing practice. There are diverse benefits of using simulation to teach nursing. For instance, simulation training practice enables nursing students develop accuracy in diagnosis and treatment of patients. This helps students to develop their ability to learn and retain knowledge therefore, enhancing patient safety as theoretical and conceptual learning are practically implemented allowing student apply learned concepts. Jeffries (2005) infers that skill performance, critical thinking, satisfaction and knowledge are addressed though simulation and in turn competence among the practicing nursing students is developed. The underpinning factor therefore, is that simulation training offers student opportunities to practice interventions in a safe and sound environments, observe consequences when incorrect conclusion are made and with new developing trends in the nursing profession where time, accuracy and due diligence form the key pillars to service delivery, healthcare providers need better understanding to foster smooth transition to clinical experiences and through simulated practices adaptability to clinical environment is reached as consistent practical approaches are used to engage student (Schmidt & Brown, 2007). Simulation practices are used to challenge and support students develop and learn prioritization, teamwork, delegation, communication and leadership and in so doing transforming clinica l environment by providing institutions with the flexibility to create specific and unique learning experiences not duplicable in real clinical environment. In adapting to simulation as a style to teach nursing several challenges present themselves therefore hindering full adoption of the style by various institutions.

Costing, Budgeting for Projects Accounting Essay

Costing, Budgeting for Projects Accounting - Essay Example 9018088 0.000842049 12 8 13 9 7.703656443 1.680506618 13 9 14 7 7.414185094 0.171549292 14 7 15 4.791208791 44.00883114 -1.008791209 19.92307692 0.247845443 2.110327908 0.57993311 3.738278384 16.56687898 12 231.5175824 167.6967033 Estimating Learning-Curve Functions 2 2) I used the formula approach and forecast approach to estimate non-linear functions such as the learning-curve function. The predicted value for 15 units is 4.791209. Note: When I used the forecast approach, either there was an error in the formula or the predicted value is wrong. The formula on p.209 is =FORECAST(15,B1:B14,A1:A14), but I came up with a predicted value of 4.32967. But since I must arrive at the value 4.791209, I figured the formula should’ve been =FORECAST(15,B2:B15,A2:A15). I finally succeeded at having the same value 4.791209. I think my formula is more accurate because for 14 units of outputs, the DLH value is already given with a value of 7. The formula for regression analysis is Y = a + bX where a is the constant term and b is the slope. When estimating LCR, I used Solver routine in Excel. I started with an estimated LCR of .80 and entered that figure in cell D2. For getting the predicted DLHs, I used Excel learning-curve formula which is =$B$2*A2^(LN($D$2)/LN(2)). For unit 1 (X), the predicted value is an exact match. It is the same as the actual DLH, 29. The rest of the predicted DLHs for outputs 2-14 were a close match except for 9 and 11 units (in thousands) of outputs. Next, I calculated the â€Å"squared-error.† The obvious answer is 0, since there is no error. The predicted DLH is exactly the same as the actual DLH. The formula for â€Å"squared-error† in Excel is =(C2-B2)^2 for 1 unit (in thousands). The rest can be calculated in Solver routine by dragging the cells when copying the formula for 1 unit of output. Estimating Learning-Curve Functions 3 3) Shown on the graph with the downward slope, as the total outputs increased, the cumulative uni ts produced decreased. In other words, the more experience there is in producing outputs, the amount of time to perform the task decreases. The plot is consistent with the data given for units produced and DLHs. 4) I estimated the LCR with the â€Å"incremental unit-time learning-curve model† using Solver routine and I arrived at 0.69 or .70. In the Solver routine window, I entered the â€Å"target cell† as $E$2 which is the â€Å"squared error† contained in E2 and the â€Å"changing cell† as $D$2 which is the Estimating Learning-Curve Functions 4 LCR contained in D2. The exponent in learning-curve model, b, is -0.51681. So for DLH 29, the incremental unit-time learning-curve model is Y = 29.0*X^-0.51681. 5) The formula for cumulative average time per unit to produce x units is Y = ax^b; where Y = cumulative average time per unit to produce x units, a = the time taken for the first unit of output, x = the cumulative number of units, and b = the index of l earning (log LR/log 2). Using the calculation in Excel spreadsheet, I entered the formula =$B$2*A2^(Ln($D2$/Ln(2)) for cumulative av

Research paper - international relations Example | Topics and Well Written Essays - 2000 words

- international relations - Research Paper Example Because China’s nuclear modernization program is expected to continue, its second-generation nuclear force will be deployed over the next 10-15 years as a more mobile, reliable and accurate force then it currently is. (Keylor, 2001) These nuclear achievements in the PRC continue to cause great anxiety within the international system. This is particularly because uncertainty exists about China’s nuclear capabilities and strategic intentions. However, it will be proven that although many factors support China’s nuclear capabilities as posing a threat to the international system, the PRC does not to intend to harm the world, as it is relatively a small nuclear power with rational security concerns ands sound interests in maintaining world peace . Deterrence against China’s Principle Enemy As a result of its unpleasant history, the Chinese have especially viewed its principal enemy, the United States with suspicion. The United States has and continues to threa ten the mainland on many counts. During and after the Korean War the U.S. threatened to use nuclear weapons against China. Washington had actually deployed nuclear-armed B-29 bombers to Guam in 1951 for possible use against the PRC. (Leo, 2002) Again, in 1954-55 Beijing was threatened by the use of possible nuclear weapons by the U.S. over the off shore islands of Quemoy and Matsu held by Taiwan. Apparently, the â€Å"nuclear card† held by the United States incessantly reinforced its superpower leverage during times of crisis. (Garwin, and. Panofsk, 1998) Thus it was necessary for China to become a nuclear power in order to not only prevent constant â€Å"interference† or â€Å"nuclear bullying† by the United States, but also to forever guarantee national independence. As a result, since the mid-1950s, China has strived to develop a modest nuclear force to satisfy the following objectives,† secure a retaliatory capability in case of nuclear war; deter supe rpower or other outside aggression; demonstrate China’s international power and reinforce her pride . Establish Hegemony in Far East Asia By attaining nuclear weapons, China’s ability to establish hegemony in Asia would increase, as it also becomes a great power in the modern world. Because the Chinese government has been influenced by the inheritance of a â€Å"mandate from heaven,† the PRC already considers herself to be at the center of the world. Now that China has attained nuclear capabilities, she can make implicit threats of military action against her neighbors as she establishes hegemony in her orbit in the Far East (Halperin, 1965). Protecting China from Foreign Intervention The People’s Republic of China’s goal is to protect her territorial integrity and political independence in the face of foreign encroachments and domestic disorder. Both Communist and Non-Communist China especially agree to maintain and preserve China’s soverei gnty in the outlying regions of Sinkiang, Tibet and in particular Taiwan because they have become major targets of foreign encroachment during the present nuclear age. For example, Russia had once attempted to gain Sinkiang, while Great Britain and India jointly brought Tibet under their influence. Moreover, presently, China suspects that Washington and Japan together plan to establish â€Å"two Chinas† or â€Å"one China and one Taiwan† threatening to menace PRC’s integrity, and bringing insult to Chinese national pride. Two Attempts at Nuclear

Nike Essay Example | Topics and Well Written Essays - 1000 words

Nike - Essay Example I will further elaborate on the financial performance with the help of the following ratio analysis. For the ratio analysis, the figures have been taken from the 2008 and 2009 financial statements. The current Ratio evaluates the liquidity of the company. It represents a safety net for the creditors. Nike has improved its liquidity over the last year. It now holds $3 for every $1 of its short term debts as compared to $2.7 of last year. In comparison to the relevant industry, it is one of the most liquid companies’ (Bloomberg, 2010). The analysis further shows that Nike holds an excess of the working capital in current assets which should be invested in the marketable securities for generation of further income. The Quick Ratio is another measure of solvency and measures the liquidity of the company. This ratio removes the inventory and prepaid from the current assets as they are not as liquid as others. Nike has improved its liquidity position in the market with a ratio of 2.4 as compared to 2.1 in 2008. It now holds $2.4 for every dollar of short term obligations to the creditors. The analysis further shows that more than 50% of the assets are help up in the receivables and hence, the company depends on the collections for meeting of the obligations. Compared to the industry, Bloomberg again reflects on the liquidity position of the company as one of the better company’s income (Bloomberg, 2010). The Debt to Equity ratio indicates the strength of the balance sheet rather than the growth and earnings prospects. Nike has reduced its debt ratio from 6% to 5% in 2009. Even though, the company increased the lending but at the same time, it also increases its equity in the market. Nike has always maintained its strength in the balance sheet because of the less leverage. Nike generated $0.05 in addition to a dollar in equity. Industry comparison shows that the company is least risky but it must add on its debt more so that it can generate

Project Management for construction Essay Example | Topics and Well Written Essays - 2000 words

Project Management for construction - Essay Example Failure of the management to provide safe and healthy working environment often leads to more accidents and diminished productivity, work slippage and significant delays which often results in losses. However, quality failures are not only attributable to human resource alone but may also be a result of poor material handling, including procurement, inventory control, shop fabrication and field servicing.1( Tersine, R.J. 1982) The use or the none use of new equipment may also be a factor for poor productivity. In some cases, the failure of the construction firm to adopt recent innovations in technology removes the company from the mainstream construction activities thereby reducing its competitiveness in terms of work speed and efficiency. With a strong technological base, there is no reason why the construction industry cannot catch up and reassert itself to meet competition wherever it may be. Individual design and/or construction firms must explore new ways to improve productivity for the future.2( Peurifoy, R.L. 1970) A site subcontractor who have been contracted by my company for so many years is currently having quality failures. During the previous years, the same subcontractor serviced our company without problems. However, in the past few years, this contractor have not be performing well. Several sites on which it is currently working on have been experiencing quality failures requiring re-works and causing significant delays. Based on initial reports, the subcontractor is experiencing poor productivity and high labour turnover in its site preliminaries team. They have had four team managers in the last four years and the team has twice walked off jobs during that period. Further reports state that the preliminaries team Head Office base is in two portakabins in the Head Office car park. As Head Investigator for a main contractor, I should

Constitutional and Judicial Review Essay Example | Topics and Well Written Essays - 500 words

Constitutional and Judicial Review - Essay Example Counter arguments are however there and this is to the effect that the Human Rights Act 1998 does give the courts the right to strike down any legislation that it feels is incompatible with the European Convention by stating so. The courts may not choose to exercise this option and may prefer to interpret it as far as possible as required by Section 3 of the Human Rights Act of 1998. Yet the decision lies with the court in choosing whether exercise this to option and call for amending the legislation. This is contrary to the traditional understanding of parliamentary sovereignty and should the courts choose to exercise this option it would lead to a constitutional crisis. (Gillespie, A. Alisdair. Human Rights Act 1998: The 5 Minute Tour). British courts feel bound to display Acts of parliament that are inconsistent with the European Law, but not those that are inconsistent with the European Human Rights law, because all twelve articles except Article 13 of the principal Convention articles have been included in the Human Rights Act of 1998. The leaving out of Article 13 was intentional and the official position for not including this article in the Human Rights Act of 1998 is that the Act itself is Article 13 and provides the necessary measures for any citizen to seek relief in case there are of any breaches. It must also be remembered that any citizen of the United Kingdom as a citizen of the European Union can approach the European Court of Human Rights for relief in case of any breaches.

Electromagnetic Assignment Example | Topics and Well Written Essays - 2500 words

Electromagnetic - Assignment Example All the objectives would be achieved by carrying out several activities such as tests for magnetic shielding, falling magnets and the design of the motor. The lab activity was also aimed at using PHET simulation software to carry out some electromagnetic tests. Magnetic shielding is the act of reducing the electromagnetic field contained in space by blocking the area with barriers made of either conductive or magnetic material. Magnetic shielding, however, does not prevent a magnetic field, preventing lines of flux from traveling from the North Pole to the South Pole of a magnet. However, the fields can be redirected. Any ferromagnetic metal can be used as a shielding metal. A ferromagnetic metal is a material containing either nickel-iron or cobalt. Most of the steel materials are ferromagnetic metals and work well as redirecting shield. Steel is, however, most used because it is less expensive and widely available. The thickness of the shielding material matters to individual levels. When a shield is so thin, it becomes saturated with magnetic field lines and cannot hold any more lines of flux. Thick shielding is therefore required to carry a maximum number of flux lines. A thick shield does not necessarily mean adding more of steel mate rial. Adding steel thickness does not improve the shielding much. In such cases where saturation is an issue, multiple layers of the shielding material are used. There are some specialized materials especially designed for magnetic shielding. The Specialized magnetic shielding materials are always designed to have a higher relative permeability and a lower saturation point. The right shielding materials depend on the particular shielding problem. For instance for a sensitive electronic, Metals can provide an excellent shielding than steel. Or large applications involving large, powerful neodymium magnets,

Store and retrive information Essay Example for Free

Store and retrive information Essay Understand processes and procedures for storing and retrieving information Explain the purpose of storing and retrieving required information: The reason you store information is so you when you need it in the future you can easily find it. Most companies have to either store documents in fire proof cabinet’s or on hard disks or any other electronic storage devices. Most companies have confidential files about the company, employees or customers that have to follow the data protection act. Describe different information systems and their main features: Server on the server at our company we use the server to store all are files for example financial data, HR files, sage and accounts, maintenance, training, HSBC, customers, employees, etc. these are all in relevant files so you can locate them easily. GX – our bespoke system saves all of the work that we have processed so you can locate them by going on to contracts and finding the relevant customer’s and looking what they have had from when they joined with our company and we can also look back in the past to see how much we have made and how many pieces we have sent out. Explain the purpose of legal and organizational requirements for the security and confidentiality of information: Information that is stored in an organisation has to follow the security and confidentiality procedures. For example finances, customer’s and employee’s details should be secured and only certain members of staff should be able to access physical and electronic data unless you have been given authorisation. If information gets into the wrong hands it could have serious consequences and might lead to legal action. Explain the purpose of confirming information to be stored and retrieved: All companies store a lot of information, but if you store the wrong information that isn’t up to date or is not correct there is no use of it. So when storing information you should be cautious that it is proof read. You keep information for a reason so you should keep everything updated. The wrong information can be really serious if it falls in to wrong hands. Read more:  Store and Retrieve Information Essay Describe ways of checking information for accuracy: When you are saving important information it is essential that you proof read it, or if you are not sure get someone to double check it, as you only want accurate data. By using decent software to store database will help ensure  that the information is accurate. Explain the purpose of checking information for accuracy: All organisations have to check to make sure that there information is correct because if one thing is wrong for example in the financial department if the money that is coming in and going out is inaccurate, this might lead to staff might not get paid correctly or you haven’t got enough money to pay either staff or employers. Explain the purpose of providing information to agreed format and timescales: By having an agreed format in an organisation is called a house style by using a house style it will let other companies or customers identify who you are, for example by the font, logo, font size, emphasis and spacing. By not having this you don’t look very professional and will make things take longer if you have to use extra time making it right. By having a timescale will let staff and customers know when work will be completed by over running the timescale will make the company look unorganised and not very professional. Describe the types of information that may be deleted: As a company goes on your will get more and more customers and might have some customers leave your company so you should always check the data and making sure it is accurate, so you don’t have any unwanted data. Most companies will have a policy on how long you should store data for and after that time it should be deleted or shredded following security and confidentiality procedures. Describe problems that may occur with information systems and how to deal with them, when necessary: When storing important information there is always going to be a risk whether it is saved onto a computer or it is physical because computers get viruses from attackers so you should always make sure that you have got proper security like antivirus software and firewalls need to be used as well as passwords. When you have physical information there is always a risk that there could be a fire or flood, or information can be seen by the wrong person who do not have authority to access information. You should always have locks and maybe even a fire proof cabinet for important documents.

Country Research Report Colombia About Colombia History Essay

Country Research Report Colombia About Colombia History Essay When Gran Colombia collapsed in 1830, Colombia was one of the three countries that emerged along with Ecuador and Venezuela. In Latin America, Columbia is the fourth largest economy and in South America it is the third largest (Republic of Colombia). Colombia is the member of the United Nations, the World Trade Organization (WTO), and also the International Monetary Fund (IMF). It is also one of the continents most heavily populated nations. Its capital city Bogota, which was formerly known as Santa Fe de Bogota is located in the center of the country. The country has 32 administrative regions (called departamentos) plus the capital district which has its own autonomous administrative. (Industrial Field of Colombia)  . History Facts and Figures: Official Name: The official name of Colombia is Republica de Colombia. But the conventional long form of the name is Republic of Colombia and the short form, which is widely known, is Colombia. Earlier it was known as United States of Colombia (Republic of Colombia). Land Areas: The country has land area of 401,042 sq mi (1,038,699 sq km) and a total coastline of 3,207 kilometers (1,993 miles) spread between the Caribbean Sea and North Pacific Ocean. Geography: Relative Location Colombia looks like an odd-looking pear which has a thin top. Columbia is just about the similar dimension as of France, Germany and United Kingdom and United States is 9 times the size of this country. Located in the northwestern corner of South America, the country lies entirely within the tropics. Colombia is surrounded by Panama in northwest, by Venezuela and Brazil in the east, by Peru and Ecuador in the southwest, the three Andean ranges run north to south through the western half of the country. The eastern half of the country is low, jungle-covered plain with Amazon and Orinoco Rivers.teh Andes western, central and eastern cordilleras (mountain ranges) run parallel south-west to north-east. The valley of the eastern range and the fertile plateau are the most thickly populated areas of the country (Columbian Facts). Geographical Map of Colombia images (1).jpg (Geography of Colombia). Population Flag: According to population, The Republic of Columbia is the 27th largest country in the world . In overall population, Columbia ranks fourth in Latin America and in density it holds tenth position. The estimated population of the country (2012) is  45,239,079 with the growth rate of about 1.36 % (according to the report published by World Bank in 2012). The estimated birth rate is 17.23 per 1000 with infant mortality rate of 15.92 per 1000. The life expectancy is expected to be 74.79 and density per sq km is 43. The majority of Colombians live in the western coastal area of the country which means that the region east of the Andes mountain chain is thinly populated (Colombia). After the end of World War II, the countrys population grew dramatically, growing by 3.2 percent per year. In 1951 the population was 11.5 million but got doubled in the year 1973 to 22.9 million. The population is expected to attain 53.2 million by the year 2015. The country was one of those few countries of Latin America to have adopted the family planning as an authorized policy and to include it in their development plans. Distribution of population is highly uneven. About 94.5 % of the population is concentrated on 42 percent of the country, in plateaus and basins over Andes cordilleras and the valleys of Magdalena and Cauca rivers. About 58 percent of the country inhibits mere 5.5 percent of the population. The largest part of the population of country lives in the Central Highlands in the pleasant and cool region and the remainder in the Caribbean lowlands (Country Overview). According to the recent studies done in the Republic of Colombia, about 30.7% of the total population of the country consists of children below the age of 14 years, 64.2 % is the percentage of the age group between the age of 15 years and 64 years and 5.2% above 65 years age (Population of Colombia). The flag of Columbia is inspired by Christophers Columbus flag which he used in his expedition. It has three horizontal bands. The first part is yellow, the second (middle) part is blue, and the third (bottom) part is red. Yellow color of first part represents the gold found in the country. Blue color is a sign of the Pacific Ocean and the Caribbean Sea that borders the country; it also corresponds to the equality of all races and classes in the countrys society. Red color stands for the sacrifices and blood spilled by the martyrs in the struggle of independence (Colombia Flag).   download.jpg Source: (Colombia Flag). Francisco Miranda created the national flag of Colombia on March 12, 1807, who was an eminent figure Lin fight for independence of the country. Miranda, Lino de Clemente and Jose Sata, offered the flag at the Congress of Venezuela in 1811 and was adopted as the national flag.   In 1834, Francisco de Paula Santander wanted some modification in the flag so that the stripes should run vertically instead of horizontally.   Later in 1861, President Tomas Cipriano de Mosquera ordered that eight stars should be positioned on the blue stripes to represent the eight provinces that make the  Estados Unidos de Colombia  (United States of Colombia) and that the yellow stripe should be positioned in the middle.  Ã‚   In addition to that, he also ordered that like original the stripes should be in horizontal position, as done by Miranda in 1807. Again in 1909, Simon Bolivar ordered that Mirandas design should be restored as the flag of Colombia .The flag was constantly modified in terms of placement of the stripes and their size. In the year 1934,    President Enrique Olaya Herrera established the present flag, which was designed by Miranda in 1807 as the National flag (National Flag of Colombia). Currency: The official currency of Colombia is the Columbian Peso which is denoted by COP or COL$. The bills are available in the denominations of $1K, $2K, $5K, $10K, $20K, and $50K. The coins are available in $50, $100, $200, $500 and $1000 (Columbian Currency). currency_looks_like_colom2 (1).gifcurrency_looks_like_colom1.gifcurrency_looks_like_colom2.gif National Day: Every year 20 July is celebrated as independence in Colombia when it claimed its freedom from Spain in the year 1810. It is happened that on July 20, 1810, Colombian nationalists stimulated the people of Bogota in streets to protest against Spanish rule. The Viceroy was forced to allow some degree of independence which later became everlasting. From then, July 20 is celebrated in Colombia as Independence Day. The Colombians are known to celebrate this day with great patriotism and enjoy with festivities, parades, traditional food and parties (National Day of Colombia). Industrial field: Colombia is basically a liberated market economy with key commercial and investment ties to the United States.  The countrys industrial hub developed around four urban areas:  Bogota (the capital city), Medellin, Cali, and Barranquilla. The other centers developed in the departments of Boyaca, Magdalena, Narià ±o, and Santander.  The mining sector of the country comprises of oil production and coal.. Its major oil export market is the United States. Oil Production is sited primarily in the Cusiana and Cupiagua fields in the Andes foothills and in the Cano Limon field in the vicinity of the Venezuelan border. All the foreign investment in the petroleum exploration and its development are done on a profit-sharing relationship contract between the investors and Ecopetrol (the state petroleum company). Most of Colombias natural gas production is done in the Guajira region. The country fabricates more than 90 percent of the worlds total emerald production and it is also known to be the second-largest South American producer of gold. It is also one of the most important coal producers in Latin America. Colombia has plentiful water wealth for hydroelectric power and so is second only to Brazil in Latin America. Hydroelectric powers offer more than 70% of countrys electricity power generation. A great deal of Colombias hydroelectric production is situated in the mountainous northwest part of the country, which produces about 40% of the hydroelectric power (Industrial Field of Colombia). The economic landscape of Colombia has changed considerably in the last 40 years, and it is shown by the changes in the manufacturing industry by the late twentieth century. Industrial manufacturing in Colombia is quite speckled. Manufacturing units are mostly located in the provinces of Antioquia, Cauca, in the capital region area, and some in Barranquilla, on the Atlantic coast. The most important products include basic chemicals, beverages, milling and cereal processing, oil refining, textiles, paper and derived products. Textiles and chemicals are at the top for nearly 40 % of all exports of the country. The construction industry (approx. 7000 companies) is one of the largest employment sectors in Colombia (Industry). Commercial Field: In the recent times, the global commercial sector represents 65% of the total world product and around 25% of business transactions in the worldwide. Particularly in the commercial sector of Colombia such as information technology, financial and banking sector have its market in the country. This commercial growth of country facilitates growth in the world and also enables to manage their natural resources and trade by generating revenues (The Service Sector in Colombia and The FTAA negotiations). Culture and Traditions: A diversified culture occupied Colombian territory before the Spanish have arrived. Some as sophisticated and advanced in such a way that produced San Agustins statue in the Huila department, profound tombs of Tierradentro in the Cauca department or in the Sierra Nevada de Santa Marta the Lost City. The Spanish was arrived with an aim to take over and colonization and carried slaves along with them from Africa. Because of these reasons Colombia is recognized as diversified ethnics and cultural country where each region has some unique characteristics which discriminate it from other nations. Accordingly the Andean culture that strongly experienced its European ancestry of a culture of Caribbean which is a blend of Indian and African legacy; roots of African culture with the pacific culture and Orinoquia culture and Amazon culture which is basically an Indian. This complex combination of American and European ancestry is not only articulated in the tradition of country although also comprises of several artistic ground such as handicrafts, cuisines, architecture, sculpture, painting, literature, film, photography, music, dance, theater and many more. Colombian culture is the summation of geographical sites, its colonizers, religious communities and many other things. All these have significant reflection in the lifestyle and religion of Colombian people. Along with this, these things also influenced the language and other aspects of Colombian life (Colombia Culture; Culture: Tradition and avant-garde). Landforms in Colombia: Landforms are the natural features on the surface of earth. Colombia is full of several landforms which enables it to become incredible country in the world. This country is fronted by valleys such as Caribbean, Pacific as well as Eastern Amazon which lengthen its borders Venezuela and Brazil. The western side of Colombia is crossed by three rocky equivalent ranges of the Andes Mountain which was named as Eastern, Central and Western Cordilleras. Many of the significant rivers like Cauca, Magdalena and Putumayo were climbed in the upper elevation of the mountain. These Cauca and Magdalena disconnected the three ranges of Andean Mountain, ultimately merging and later on ending in the Caribbean Sea (Landforms). Land Division in Colombia: The land of Colombia divided into many sub divisions which comprises of thirty two departments and one capital district. The thirty two departments of Colombia includes Amazonas, Antioquia, Arauca, Atlantico, Bolivar, Boyaca, Caldas, Caqueta, Casanare, Cauca, Cesar, Choco, Cordoba, Cundinamarca, Guainia, Huila, La Guajira, Magdalena, Meta, Narino, Norte de Santander, Putumayo, Quindio, Risaralda, San Andres y Providencia, Santander, Sucre, Tolima, Valle del Cauca, Vaupes and Vichada. Other than these departments, the Colombia has one capital district which is named as Capital de Bogota (Land Statistics). Information about Traveler in Colombia: In the early 00s, the Colombia has been opened for world travelers because violence has been decreased dramatically. The diversity of climate and cultural zone in the Colombia provided something unique to the travelers. In the north of country, Caribbean beaches facilitate high class resorts with some historic colonial cities although economical beach towns next to Pacific Coast like Nuqui. In the Andean region, local population resides with the diversified culture. Despite being diversified culture, climatic zone has extreme variations which contributed beauty to the region and aid Colombia as one of the bio-diverse country in the world wide. The points of attraction in the Colombia as elaborated below (Welcome to Colombia Information). Attractions: The Colombia is the country which comprises of diversified culture and climate. This diversity of climate and culture placed this country at different platform and also these diversities attracts more travelers from the worldwide. The climate of Colombia is identified by trade winds, altitude and humidity because it is an equatorial country. The country took pleasure consistent luminosity during the year with the identical duration of day and night hours. The point of attractions of the Colombia country comprises of several natural features. The historical landmarks comprises of Capitol, Capilla Del Sangrario, cathedral on Plaza Bolivar which is a main square. The capital city Bogota includes a museum the Museo Del Oro that is one of the best Colombian museums globally. It also includes churches as Iglesia de Santa Clara and Iglesia de San Ignacio. Other than this, Cartagena on the Caribbean coast is the building of colonial walled and the white sand beaches are truly attractive. A f amous Salt Cathedral in the Zipaquira which is an underground church built under a salt mine. Other than these Colombia is also full of parks such as Tayrona National park (Attractions; Attractions from Colombia). The overviews of point of attractions in the Colombia country are described underlined as below: Museums and churches: The country has many museums and churches such as Museo Del Oro, Museo national, Museo Arqueologico, Santa Clara and San Francisco. The major and unique feature of these are, all are situated in the mid of the city. The Mountain Cerro de Monserrate (Bogota): This Mountain gave pleasure to all travelers who come from worldwide. The Salt Cathedrals at Zipaquira (Bogota): Zipaquira is situated in the north of Bogota. These mines have been vacant and comprises of small reserves which place like a mountain of salt. The Island Del Rosario (Colombia): It is situated in the southwest of Cartagena which is next to the Caribbean coast. It is situated thirty kilometer in the southwest of Cartagena. This area is full of incredible scenes and sand beaches. Along with these also offered glorious coral reefs and colorful fishes. Source: (Attractions) The city of Cali: This is a rich city and having hot climate. This city is famous for its cigars and for exotic dishes. San Andres (Colombia): This Island is only 13 kilometer long and 3 kilometer broad. This island is flat and plain in nature and full of coco palms. Its sunny beaches offered a place for relaxing to the travelers. The nature reserve of Parque National los Katios (Colombia): This is one of the beautiful nature parks which are enclosed with rain forest and lakes. One of the points of attraction in the park is a waterfall of 100 meter. These natural scenes gave pleasures to all travelers who came to Colombia (Attractions; Attractions from Colombia). Country Dialing Code: The country dialing code is a series of numbers which is used for establishing connections between two telephones at the international platform. The dialing code of Colombia country is of two digits as 57. This dialing code allowed user to contact Colombia from another countries in the world wide. This dialing code 57 is dialed after the International Direct Dialing (IDD) and this Colombia dialing code is followed by an area code. By using complete Colombia dialing code a user may call in Colombia (Colombia Country Codes). Electricity: The voltage in Colombia country is 110 volts which is similar to the voltage utilized in the United States of America, Canada and Japan. The 110 volts has been considered as safer to use and less powerful because it has ad vantage over the high voltage like 230 volts. On the other hand, it costs more in the transmission of power to the end users by utilizing 110 volts as for this purpose copper lines must be thicker in size. For this reason wealthy countries are generally used these lower voltages (Electricity in Colombia). In Colombia, the electricity frequency is 60 Hz. Since electricity frequency is not a major issue in regards of compatibility because in the recent time most of the electrical equipments are supportive to the multiple frequencies (Colombia Technical Information for Travelers). The plug adapters that are used in Colombia are A or B. the electrical outlets of type A and type B are shown below: Source: (Colombia Country Codes) The graphical representation of electricity production in Colombia country is as shown below: Source: (Electricity in Colombia) The attractive feature of electricity sector in Colombia is if certain area has a number then it is called Stratum. If this number is higher than that area considered as better as compared to others and the people need to pay more amounts for electricity. This system is operated by cross-subsidies and kept very simple phenomenon that the person who earns more have to pay more for electricity. This makes sure that power is accessible by everyone (Electricity in Colombia). Conclusion: The Colombia is the country which comprises of diversified culture and climate. This diversity of climate and culture placed this country at different platform and also these diversities attracts more travelers from the worldwide. This country is known for their several landforms, culture and traditions. This gives additional advantage to the country for attracting more travelers. In totality, Colombia is the country which is considered as incredible place in the world wide.

Strategies to Prevent Cyber Crime

Strategies to Prevent Cyber Crime Andrew Rayner Cyber Crime: Preventing the Horrific Crimes on the Internet In today’s society, there are many aspects of crime committed on a regular basis. Civilians take advantage of people using online resources such as a fraudulent website requiring credit card information to get a free monthly trial. Other venues that may contain a potential for cyber crimes are online chatting websites, full of predators or websites requiring a downloadable program that contains a hacking virus. Sadly, there are many cases of cyber crime populating the internet. Acts of cyber crimes are considered violent acts like any other. Every day, citizens are constantly losing money and being victimized due to a variety fraudulent activities. Cyber crime, including fraud, identity theft, stalking, and hacking, is a growing problem which can be prevented by taking the proper precautions. The biggest case of cyber crimes are cases of fraud. â€Å"Online fraud comes in many forms. It ranges from viruses that attack computers with the goal of retrieving personal information, to email schemes that lure victims into wiring money to fraudulent sources† (What is â€Å"online fraud†). When browsing the internet, people will stumble upon websites offering a free trial. Some of these websites are real, but many are fake. Real examples can include ones like Netflix, Hulu, or Amazon Prime. A fake website, such as one offering too great of a deal often contains attempts of fraud, to gain access to credit card information. Another way of committing fraud is by sending fake emails to Craigslist advertisers make the victim think that he/she is getting a great deal. This type of fraud has to do with shipping. Criminals respond to Craigslist advertisements pretending to be a company such as PayPal, saying that the money is being held until the victim replies to the email with a valid tracking number. When the victims gives the requested information, the criminal ignores the victim and takes their money. Protection against offenders requires cautionary steps. â€Å"Perpetrators act as hackers who intercept personal information while victims are online, either through website entry or through phony [emails] in which they disguise themselves as legitimate firms attracting victims to do business with them† (Dyke 3). Keeping personal information secure on the internet is vital for any person’s safety. Never give out credit card information online to any company unless the company is verified. One way of checking for authenticity is to see if the websites has a verification certificate. These certificates cant be given to any website unless it is approved to take vital information. This is a safe way of making sure credit card information is not given to anyone who might steal it. Although they don’t take credit cards, when dealing on Craigslist, never ship anything, for any reason, as this is a scam; instead, the deal should be handled in person. There is no safe way on the internet to ship any item between private parties, so it is best to avoid anyone wanting to work with shipping or money shipments. Anyone can use a credit card number online without a tangible card. Keeping credit card details safe is important when dealing online. Only give credit card information to a website if that the website is certified to take a card. Almost any credit card will have bank protection when purchasing virtual goods, but it is important to make sure card information is not given to an unknown or untrusted website. Many scam websites will have a fake certification seal to verify that the website is real, the seal should link to a valid certification location. A form of cyber crime involving personal information is identity theft. When browsing the internet, people often come across ads that supposedly allow the user to win an iPad or other expensive device when completing a survey. This is a scam and is never a valid offer. These surveys require the user to input personal information such as an address, email, phone number, and name. This is a common method to steal identities. People may also come across a practice of identity theft such as Free-Credit-Score websites. These websites will ask for every bit of personal information including a social security number. A common victim pool is false advertising on Craigslist such as a fake job offer. Social engineers are predators who prey on victims to get personal information resulting in a scam, or even worse, identity theft. Do not deal with anyone on Craigslist when trying to find a friend to chat with. They often are cyber thieves wanting every bit of information to use to their advantage. To prevent identity theft, never give personal information to any website or any person unless that website can is trusted. Some common websites that are trustable are PayPal, Amazon, Squirll, and verified bank websites. These sites all have approved certifications seals. Normally this is checkable by looking to the left of the URL (Website Address) for a Secure Sockets Layer (SSL) installation, which is indicated by a lock icon. Having stalkers outside of the web is dangerous, but because of advancements in technology, the internet is full of cyber stalkers as well. â€Å"A cyberstalker only needs access to a computer and a modem. Due to the enormous amount of personal information available through the internet, a cyberstalker can easily locate private information about a potential victim with a few mouse clicks or key stokes† (Cyberstalking). Many websites on the internet offer instant messaging. A few examples are Omegle, Craigslist, and teen chat rooms. These rooms are normally a hangout for predators. The predators will act as someone they arent to try and convince victims to like them, resulting in giving them personal details. Chatting sites are extremely dangerous, and it is imperative that chat rooms are avoided to prevent a perpetrator finding you outside of the internet. Social sites such as Facebook, Myspace, and Twitter are also websites that require caution when using. Creating an account on these websites require no identification possibly resulting in the predator disguising as someone they arent such as a relative or friend. Never give information to anyone online in a chatting program such as Skype or instant messaging system. Putting information online having to do with personal information is never a good idea even if it is Facebook or other websites such as Google+. Cyber stalkers are normally found on chat websites and social media websites. It is important to always exercise caution for protection when speaking to anyone online, no matter the situation because of the dangers. â€Å"Cyberstalking is just as frightening and potentially dangerous as a stalker at the victim’s front door† (Cyberstalking 2). The biggest form of cyber crime is hacking for malicious reasons or personal gain. â€Å"There are some career criminals who steal by electronic means. This small group poses a large problem for society, but it’s not a new one. Thieves are thieves† (Harvey 2). There are thousands of people on the internet trying to hack for gain on a daily basis. This is done through key loggers, Remote Administration Tools (R.A.T.S), and other types of malicious software. These are normally found within an executable file (.exe). These viruses will infect computers and try to steal information such as logins to websites, credit card information in files, or any type of person information. Many kids and some adults fall for this scam on a daily basis. When trying to find a premium code for a service such as Xbox Live or Spotify, people will come across a multitude of websites that give them instruction to complete a survey to unlock a premium code. These are not real. Do not download anything from a survey. Surveys will ask for permission to download a program to unlock the file which supposedly contains the free premium code for such service. Normally these programs are prone to contain an infected type of file, forcing advertisements and malicious software onto a computer. The last major type of virus is a phony antivirus program. When attempting to download a program to help fix an infected computer, normally the user results in having more remotely downloaded viruses. Instead of stealing information or logging computers, these viruses are typically used to force people to purchase the antivirus software to make the annoying virus go away. These are also used to lock ones computer and make him or her pay to have it unlocked. These viruses normally are the worst kind because they are so hard to remove from an infected machine, and scare the unknowing victim. Trustworthy programs are normally anything from trusted developers, such as Microsoft or Adobe. However, there are plenty of trustworthy ones on the internet. To determine if the websites/programs are trustworthy, check the SSL on the website from which the program is being downloaded, which means it is certified. If ever unsure about a program, websites such as Virus Total can scan the program for infections. These websites scan files for anything malicious. If any sort of malicious viruses are found, it will notify the user before the computer decides to run the file. Most of the time anything having to do with a bot, survey, free cracked program contains a virus. There is no reason to download any program having to do with a free item, which will completely prevent someone from being infected. These crimes are a few of the dangers on the internet. To provide full safety, never give personal information to dubious-looking website, download programs that are not trustworthy, speak to anybody on the internet unless positive of their identity, and never for any reason, try to get something for free that costs. These things are the most common type of cyber crimes people see on a daily basis. Although the internet is a great source for making money in legal ways, it can also be used for plenty of malicious black market money scams. It is imperative to carefully browse the internet when downloading programs, and talking to people online. Works Cited Cyberstalking. Marshall University. Marshall University, n.d. Web. 25 Jan. 2014. Dyke, Van, and Albrecht W. Identity Theft. U of NEBRASKA–LINCOLN. U of NEBRASKA–LINCOLN, n.d. Web. 26 Jan. 2014. Harvey, Brian.Computer Hacking and Ethics. Ed. Paul Goodman, P.G. Electrical Engineering and Computer Sciences. U of California, Berkeley, n.d. Web. 25 Jan. 2014. What is â€Å"online fraud†? National Crime Victim Law Institute. Lewis Clark, 27 July 2010. Web. 24 Jan. 2014.

How to Become a Bow Hunter Essay -- learn bow hunting hunter

Bow hunting can be a fun and exiting sport to do. But first you must learn how to do so. There several steps involved becoming a successful bow-hunter. You must have proper equipment, good hunting habitat, and skill with a little technique. Have a nice bow with comfortable poundage that you can draw back easily fully dressed. Too much poundage will surely give you away. A compound bow or a recurve bow will both work well. Compound bows are more expensive and are require frequent tuning. Recurve bows are simple and quite. The choice is up to you. Bow hunting is relatively not a cheap sport to do. You must first purchase a tree stand with a ladder or some type of portable ground blind. Set your tree stand in an area you are familiar with. This will help in many ways. If you do happen to shoot a deer you will know the area to better your chances to track it after the fatal shot. Know where the deer are coming from. Knowing which way the deer are coming from will not startle you and cause you to move unexpectedly. Knowing where the deer are coming from will allow you to set your stand downwind so the deer cannot smell you. This ultimately will better your chances. Both your tree stand and ladder should be light. You will have to carry both of these items to your hunting spot. Setting you ladder and carrying your tree stand up the tree will be less strenuous with lighter equipment. Next have the right clothing on. Purchase something that is warm. Bow hunti...

Do Men and Women Experience Pain Differently? :: Biology Essays Research Papers

Do Men and Women Experience Pain Differently? Pain has been an under-researched area of medicine, but today physicians are increasingly interested in the workings and treatment of various types of pain. In particular, a growing body of research exists on the different ways in which men and women may experience pain and the implications of these differences for medical treatment. Does the sex of an individual make a difference in their pain experience? Numerous researchers believe that women are more sensitive to pain than men, while others believe that the differences between the pain experiences of men and women are not significant. Over the course of my research I found that part of the problem in trying to answer the question lies in how scientists measure the pain experience of men and women. The difference in the pain experience of men and women is an understudied area because most previous studies of pain and its potential treatments have only used men or male animals. For scientists, using only males was simpler since women have reproductive hormone cycles that could complicate the studies. The implication of this, of course, is that sex differences in the experience of pain (and in many other aspects of health) has remained an understudied area. However, in 1993 President Clinton signed the NIH Revitalization Act, which requires the inclusion of women in NIH research. In 1996 the NIH formed a Pain Research Consortium, and in 1998 the NIH held a conference entitled "Gender and Pain" (1). At the NIH conference, some researchers argued that sex differences in pain are substantial and argued specifically that women are more sensitive to pain. For example, women report pain more often and also report it at higher levels than men. Additionally, when men and women are exposed to the same pain stimulus, women will say that they are in pain more quickly than men (1). However, others believe that sex differences in the experience of pain may not be so significant. The higher reported pain levels of women may be due more to gender socialization than to biological differences between men and women. For example, in most laboratory pain studies women report about twenty percent more pain than men (2). However, researchers at the University of Florida examined pain reporting of chronic pain patients in a clinical setting and found that women reported only three to ten percent more pain than men, a significantly smaller difference.

Term Paper of Dbbl

Introduction: To finance their investments firms use retained earnings, new borrowings or the issue of stock. The financing decision involves i) dividend and ii) the capital structure. Dividend policy involves the decision to pay out earnings versus retaining them for reinvestment in the firm, and dividend policy decisions can have either favorable or unfavorable effects on the price of a firm’s stock. Cash distributions are made to stockholders form the firm’s earnings, whether those earnings were generated in the current period or in previous periods. Origin of the Report:During this semester of Summer 2010 in MBA program of East West University, we are required to submit a term paper in the course Corporate Finance: â€Å"An Appraisal of Dividend Policy and Capital Structure of An Organization†. We have chosen PRAN for our term project. Objectives of the Report: The general objective is to prepare and submit the term project within specified time by having an idea and over viewing the PRAN, their Dividend Policy and their Capital Structure. Scope of the Report: The scope is limited to over viewing PRAN their dividend policy and the Capital Structure they have adopted for their organization.Limitations of the Study: Secondary data were used in this study as result it may differ from actual data. As a group, we have also faced some difficulties in compiling and discussing it due to unavailability of all members at the same time. The absence of solid and verse knowledge about dividend policy is absent and we have taken it as an addition in our learning curve. Methodology: The report is originated from secondary data sources- 1. The Company’s Annual Report 2. DES website 3. Different Articles from Internet 4. Other related websitesCompany Profile PRAN: PRAN stands for Programme for Rural Advancement Nationally. â€Å"PRAN† is currently the most well known household name among the millions of people in Bangladesh and abroad also . Since its inception in 1980, PRAN Group has grown up in stature and became the largest fruit and vegetable processor in Bangladesh. It also has the distinction of achieving prestigious certificate like ISO 9001:2000, and being the largest exporter of processed agro products with compliance of HALAL & HACCP to more than 70 countries from Bangladesh.PRAN is the pioneer in Bangladesh to be involved in contract farming and procures raw material directly from the farmers and processes through state of the art machinery at our several factories into hygienically packed food and drinks products. The brand â€Å"PRAN† has established itself in every category of food and beverage industry and can boost a product range from Juices, Carbonated Drinks, Confectionery, Snacks, and Spices to even Dairy products.Today, our consumers not only value â€Å"PRAN† for its authentic refreshing juice drinks products, but also for its mouth watering quality confectionery products with high visual appeal and exciting texture. We intend to expand our presence to every corner of the world and strive to make â€Å"PRAN† a truly international brand to be recognized globally. The authorized capital of PRAN is BDT 50,000,000 and paid up capital is BDT 8,000,000. The proportion is given below: |Share Percentage | |Director /Sponsor |Govt. Institute |Foreign |Public | |42. 75% |0% |1. 27% |0% |55. 98% | [pic] Dividends: Dividend is that part of the profits of a company which is distributed amongst its shareholders. According to ICAI, â€Å"Dividend is a distribution to shareholders out of profits or reserves available for this purpose. † In other words we can say that a corporation makes Dividend payments to its shareholder. It is the portion of corporate profits paid out to its stockholders.When a corporation earns a profit at the end of a financial year, that profit can be uses by two different ways: it can either be re-invested in the business or it can be pai d to the shareholders as a dividend. Many corporations retain a portion of their earnings and pay the remainder as a dividend. Dividend Policy and Stock Value: There are various theories that try to explain the relationship of a firm's dividend policy and common stock value. Dividend policy is the policy a company uses to decide how much it will pay out to shareholders in dividends. A firm has different options to deal with its earnings.It can give all their earnings as dividend or it can retain all its earnings as retained earnings. The firm can also declare a portion of its earnings as dividend and can retain other portion as retained earnings. Dividends may be in the form of cash or stock. Most secure and stable companies offer dividends to their stockholders. Their share prices might not move much, but the dividend attempts to make up for this. High-growth companies  rarely offer dividends because all of their profits are reinvested to help sustain  higher-than-average  gr owth. Dividend Relevance Theory:The value of a firm is affected by its dividend policy – the optimal dividend policy is the one that maximize the firm’s value. Optimal Dividend Policy: Proponents believe that there is a dividend policy that strikes a balance between current dividends and future growth that maximizes the firm's stock price. Dividend Irrelevance Theory: The theory states that a firm’s dividend policy has no effect on either its value or its cost of capital. Bird-in-the-Hand Theory: It states that dividends are relevant. Remember that total return (k) is equal to dividend yield plus capital gains.Myron Gordon and John Linter took this equation and assumed that k would decrease as a company's payout increased. As such, as a company increases its payout ratio, investors become concerned that the company's future capital gains will dissipate since the retained earnings that the company reinvests into the business will be less. Gordon and Linter argued that investors value dividends more than capital gains when making decisions related to stocks. In this theory â€Å"the bird in the hand' is referring to dividends and â€Å"the bush† is referring to capital gains.The traditional argument in favour of dividend is the idea that dividends reduce risk because they bring shareholders’ cash inflows forward. Although shareholders can create their own dividends by selling part of their holdings, this entails trading costs, which are saved when the firm pays dividends. The risk reduction or bird in the hand argument is associated with Graham and Dodd (1951) and with Gordon (1959) and it is often defended as follows. By paying dividends the firm brings forward cash inflows to shareholders, thereby reducing the uncertainty associated with future cash flows.In terms of the discounted dividend equation of firm value, the idea is that the required rate of return demanded by investors (the discount rate) increases with the plough -back ratio. Although the increased earnings retention brings about higher expected future dividend, this additional dividend stream is more than offset by the increase in the discount rate. This argument overlooks the fact that the risk of the firm is determined by its investment decisions and not by how these are financed.The required rate of return is influenced by the risk of the investments and should not change if these are financed from retained earnings rather than from the proceeds of new equity issues. As noted by Easterbrook (1984), in spite of paying dividends the firm does not withdraw from risky investments, thus the risk is merely transferred to new investors. Reasons for Paying Dividends: 1. Clientele Effect: The investors in your company like dividends. 2. The Signaling Story: Dividends can be signals to the market that you believe that you have good cash flow prospects in the future. 3.The Wealth Appropriation Story: Dividends are one way of transferring wealth fro m lenders to equity investors (this is good for equity investors but bad for lenders) Types of Dividend Policies: 1. Constant-Payout-Ratio: Constant-Payout-Ratio is a dividend policy based on the payment of a certain percentage of earnings to owners in each dividend period. The problem with this policy is that if the firm’s earnings drop or if a loss occur, the dividend may low or nonexistent. 2. Regular Dividend Policy: Regular Dividend Policy is a dividend policy based on the payment of fixed amount of dividend in each period.It provides the owners with positive information, thereby minimizing their uncertainty. 3. Low Regular and Extra Dividend Policy: Low regular and Extra Dividend Policy refers to a dividend policy based on paying low regular dividend, supplemented by additional dividend when earnings are higher than normal in a given period. Nature of Dividend Decision The dividend decision of the firm is crucial for the finance manager because it determines: 1. The amo unt of profit to be distributed among the shareholders, and 2. The amount of profit to be retained in the firm. There is a reciprocal relationship between cash dividends and retained earnings.While taking the dividend decision the management take into account the effect of the decision on the maximization of shareholders' wealth. Maximizing the market value of shares is the objective. Dividend pay out or retention is guided by this objective. Factors Affecting Dividend Policy: A. External Factors B. Internal Factors A. External Factors Affecting Dividend Policy 1. General State of Economy: In case of uncertain economic and business conditions, the management may like to retain whole or large part of earnings to build up reserves to absorb future shocks.In the period of depression the management may also retain a large part of its earnings to preserve the firm's liquidity position. In periods of prosperity the management may not be liberal in dividend payments because of availability of larger profitable investment opportunities. In periods of inflation, the management may retain large portion of earnings to finance replacement of obsolete machines. 2. State of Capital Market: Favorable Market: liberal dividend policy. Unfavorable market: Conservative dividend policy. 3. Legal Restrictions: Companies Act has laid down various restrictions regarding the declaration of dividend:Dividends can only be paid out of: Current or past profits of the company. A company cannot declare dividends unless: It has provided for present as well as all arrears of depreciation. Certain percentage of net profits has been transferred to the reserve of the company. Past-accumulated profits can be used for declaration of dividends only as per the rules framed by the Central Government 4. Contractual Restrictions: Lenders sometimes may put restrictions on the dividend payments to protect their interests (especially when the firm is experiencing liquidity problems) B.Internal Factors af fecting dividend decisions 1. Desire of the Shareholders: Though the directors decide the rate of dividend, it is always at the interest of the shareholders. Shareholders expect two types of returns: [i] Capital Gains: i. e. , an increase in the market value of shares. [ii] Dividends: regular return on their investment. Cautious investors look for dividends because, [i] It reduces uncertainty (capital gains are uncertain). [ii] Indication of financial strength of the company. [iii] Need for income: Some invest in shares so as to get regular income to meet their living expenses. . Financial Needs of the Company: If the company has profitable projects and it is costly to raise funds, it may decide to retain the earnings. 3. Nature of earnings: A company, which has stable earnings, can afford to have a higher divided payout ratio 4. Desire to retain the control of management: Additional public issue of share will dilute the control of management. 5. Liquidity position: Payment of divid end results in cash outflow. A company may have adequate earning but it may not have sufficient funds to pay dividends. Apprising Dividend Policy of PRAN: Year |NI |EPS |Dividend Per |Dividend Payout Ratio | | |(in Millions) | |Share | | |2000 |33. 76 |42. 20% |20. 00% |47. 39% | |2001 |41. 99 |52. 49% |20. 00% |38. 10% | |2002 |43. 41 |54. 26% |25. 00% |46. 07% | |2003 |44. 39 |55. 49% |24. 00% |43. 25% | |2004 |40. 31 |50. 39% |24. 00% |47. 3% | |2005 |40. 77 |50. 96% |26. 00% |51. 02% | |2006 |28. 95 |36. 19% |26. 00% |71. 84% | |2007 |29. 33 |36. 66% |26. 00% |70. 92% | |2008 |35. 95 |44. 94% |28. 00% |62. 31% | |2009 |39. 97 |49. 96% |29. 00% |58. 05% | Table: 1 From the table 1 we see that in 2000 and 2001 PRAN have paid a cash dividend of BDT 20 per share in 2000 and 2001; in 2002 the dividend payment was BDT 25 per share.In 2003 to 2004 and 2005 to 2007 they have paid a cash dividend of BDT 24 and BDT 26 per share respectively. In the year 2008 and 2009 the cash dividend per share was BDT 28 and 29 respectively. Here we see that the dividend has increased in last two year, although the Net Income of the company decreased. However the EPS has also increased during the last two years and the same pattern can be seen in the Market Price of the share. [pic] Figure: 1 From figure 1 we can say that the dividend payment of the PRAN is certain and stable, regardless with earnings.As we see that despite of a drop in the earning in the year 2006 and 2007 the company maintained a constant cash dividend payment which is BDT 26 per Share and when the earnings increased in the year 2008 and 2009 the Dividend payment also increased. [pic] Figure: 2 The Dividend payout ratio indicates the percentage of each unit earned that a firm distributes to the owners in form of cash |Dividend Payout Ratio |= |Dividend Per Share | | | |Earnings Per Share |If we look at the figure 2 we see that to maintain a steady dividend payment per share each year they had to make a huge payme nt out of the Net Income. In 2006 and 2007 the dividend payout ratio was above 70% and in 2008 and 2009 it was above 58%. According to the Regular Dividend Policy the payment of the dividend is a fixed amount in each period. The Regular Dividend Policy also tries to establish to pay out a certain percentage of earnings, however it tries to stabilize the dividend by pay out a certain amount of dividend and it adjusts the dividend towards the target payout as proven earnings increases.In short we can say that PRAN is following the Regular Dividend Policy Constrains of Regular Dividend Policy: If we have a look at the figure 1 we see that the earnings of PRAN fluctuates year to year for this Regular dividend policy may sometimes prove dangerous. Once a company adopts the regular dividend policy, any adverse change in the dividend payment may result in serious damage regarding the financial standing of the company in the mind of the investors. The same problem is been experienced by PRA N despite of a drop in the earnings that they had to maintain the same amount of dividend.Appropriate type of Dividend Policy: A Stock market tends to be very efficient in the allocation of capital to its highest-value users. That market also helps increase savings and investment, which are essential for economic development. An equity market, by allowing diversification across a variety of assets, helps reduce the risk the investors must bear, thus reducing the cost of capital, which in turn spurs investment and economic growth. However, volatility and market efficiency are two important features which will ultimately determine the effectiveness of the stock market in economic development.In contrast to that the stock market of Bangladesh which is informationally inefficient, investors face difficulty in choosing the optimal investment as information on corporate performance is slow or less available. The resulting uncertainty induce investors either to withdraw from the market unt il this uncertainty is resolved or discourage them to invest funds for long term. Moreover, most of the time it is seen that investors are not rewarded for taking on higher risk by investing in the stock market, or excess volatility weakens investor’s confidence as a result they people avoid investing their savings in the stock market.Due to the imperfect market and the uncertainty of return the investors always aim for short term investment as a result they prefer dividend rather maximizing the firm’s wealth. The regular dividend policy, which ensures a fixed amount of dividend to be paid to the investor regardless to the company’s income during the period, helps to reduce the uncertainly for the investors. For this the Regular Dividend Policy is the appropriate for PRAN. Year |Net Asset Value Per |EPS |Dividend Per Share |Bonus Share |Market Price Per | | |Share | | | |Share | |2000 |258. 39 |42. 20% |20. 00% |- |416. 50 | |2001 |284. 60 |52. 49% |20. 00% |- | 370. 00 | |2002 |312. 82 |54. 26% |25. 00% |- |366. 00 | |2003 |343. 9 |55. 49% |24. 00% |- |412. 00 | |2004 |362. 27 |50. 39% |24. 00% |- |523. 50 | |2005 |386. 55 |50. 96% |26. 00% |- |519. 25 | |2006 |396. 11 |36. 19% |26. 00% |- |386. 00 | |2007 |383. 91 |36. 66% |26. 00% |- |382. 63 | |2008 |428. 9 |44. 94% |28. 00% |- |1142. 00 | |2009 |449. 96 |49. 96% |29. 00% |- |1363. 00 | Net Asset Per Share Vs. Market Value Per Share: Table: 2 From the table 2 we can say that PRAN has never issued any Bonus shares from 2000 to 2009. However they have maintained a steady dividend payment that shows a positive slope. The market price is very fluctuating in 2005 the MV was 519. 25 but in 2006 it went down to 386. 00, in 2007 it was 382. 63 but in 2008 the MV was 1142. 00. [pic]Figure: 2 From the figure 2 we see that till 2007 the Share Market Price and the Net Asset Value Per share is very close however from 2008 the difference between the Market Price and Net Asset value per Share increase d despite of a drop in the Net Income. In the year 2008 and 2009 the corporation has paid a cash dividend of BDT 28 and 29 per share respectively and the EPS in 2008 was 44. 94% and in 2009 was 49. 96. From the above mentioned information we can say that there is a high possibility that the reason behind the increase in the market price of the share imperfect market condition in the Capital Market in Bangladesh.The imperfect market situation might be the result of Syndication or by spreading rumor in the market, which caused the Share Price of PRAN to go up. Capital Structure: In finance, capital structure refers to the way a corporation finances its assets through some combination of equity, debt, or hybrid securities. In other words we can say that Capital Structure is the mix of a company's long-term debt, specific short-term debt, common equity and preferred equity. The capital structure is how a firm finances its overall operations and growth by using different sources of funds .Debt comes in the form of bond issues or long-term notes payable, while equity is classified as common stock, preferred stock or retained earnings. Short-term debt such as working capital requirements is also considered to be part of the capital structure. For example, a firm that sells BDT 20 billion in equity and BDT 80 billion in debt is said to be 20% equity-financed and 80% debt-financed. The firm's ratio of debt to total financing, 80% in this example is referred to as the firm's leverage. In reality, capital structure may be highly complex and include dozens of sources.Gearing Ratio is the proportion of the capital employed of the firm which come from outside of the business finance, e. g. by taking a short term loan etc. A company's proportion of short and long-term debt is considered when analyzing capital structure. When people refer to capital structure they are most likely referring to a firm's debt-to-equity ratio, which provides insight into how risky a company is. Us ually a company more heavily financed by debt poses greater risk, as this firm is relatively highly levered.The Modigliani-Miller theorem, proposed by Franco Modigliani and Merton Miller, forms the basis for modern thinking on capital structure, though it is generally viewed as a purely theoretical result since it assumes away many important factors in the capital structure decision. The theorem states that, in a perfect market, how a firm is financed is irrelevant to its value. This result provides the base with which to examine real world reasons why capital structure is relevant, that is, a company's value is affected by the capital structure it employs.Some other reasons include bankruptcy costs, agency costs, taxes, and information asymmetry. This analysis can then be extended to look at whether there is in fact an optimal capital structure: the one which maximizes the value of the firm. Capital structure in the real world if capital structure is irrelevant in a perfect market, then imperfections which exist in the real world must be the cause of its relevance. The theories below try to address some of these imperfections, by relaxing assumptions made in the M model.Capital Structure Theory: Trade-off theory of capital structure Trade-off theory allows the bankruptcy cost to exist. It states that there is an advantage to financing with debt (namely, the tax benefit of debts) and that there is a cost of financing with debt (the bankruptcy costs of debt). The marginal benefit of further increases in debt declines as debt increases, while the marginal cost increases, so that a firm that is optimizing its overall value will focus on this trade-off when choosing how much debt and equity to use for financing.Empirically, this theory may explain differences in D/E ratios between industries, but it doesn't explain differences within the same industry. Pecking order theory Pecking Order theory tries to capture the costs of asymmetric information. It states that co mpanies prioritize their sources of financing (from internal financing to equity) according to the law of least effort, or of least resistance, preferring to raise equity as a financing means â€Å"of last resort†.Hence: internal debt is used first; when that is depleted, then debt is issued; and when it is no longer sensible to issue any more debt, equity is issued. This theory maintains that businesses adhere to a hierarchy of financing sources and prefer internal financing when available, and debt is preferred over equity if external financing is required (equity would mean issuing shares which meant ‘bringing external ownership' into the company. Thus, the form of debt a firm chooses can act as a signal of its need for external finance.The pecking order theory is popularized by Myers (1984)[1] when he argues that equity is a less preferred means to raise capital because when managers (who are assumed to know better about true condition of the firm than investors) is sue new equity, investors believe that managers think that the firm is overvalued and managers are taking advantage of this over-valuation. As a result, investors will place a lower value to the new equity issuance.. Agency Costs: There are three types of agency costs which can help explain the relevance of capital structure.Asset substitution effect: As D/E increases, management has an increased incentive to undertake risky (even negative NPV) projects. This is because if the project is successful, share holders get all the upside, whereas if it is unsuccessful, debt holders get all the downside. If the projects are undertaken, there is a chance of firm value decreasing and a wealth transfer from debt holders to share holders. Underinvestment problem: If debt is risky (e. g. , in a growth company), the gain from the project will accrue to debt holders rather than shareholders.Thus, management has an incentive to reject positive NPV projects, even though they have the potential to i ncrease firm value. Free cash flow: unless free cash flow is given back to investors, management has an incentive to destroy firm value through empire building and perks etc. Increasing leverage imposes financial discipline on management. Other The neutral mutation hypothesis—firms fall into various habits of financing, which do not impact on value. Market timing hypothesis—capital structure is the outcome of the historical cumulative timing of the market by managers.Accelerated investment effect—even in absence of agency costs, levered firms use to invest faster because of the existence of default risk. Primary Factors influencing the Capital Structure: 1. Business Risk: It is the risk associated with the unique circumstances of a particular company, as they might affect the price of that company's securities. If the business risk is higher than the optimal debt amount will be lower. 2. Tax Position: It is the second key factor.The major reason for using debt i s that the interest is tax deductable which helps to lower the effective cost of debt. However, if much of a firm’s income is already sheltered from taxes by accelerated depreciation or tax loss carried forward from previous years, its rate will be low, as a result debt will not be advantageous as it would be to a firm with higher effective tax rate. 3. Financial Flexibility: It indicates a firm’s ability raise capital on reasonable terms under adverse conditions. 4. Managerial Attitude: It is the firm’s attitude to borrowing fund.Some of the firms are more aggressive than others; hence, some firms are more inclined to use debt in an effort to boost profit. This factor does not affect the optimal capital structure or value-maximizing, however it does influence the firm’s target capital structure. Evaluating the Capital Structure of PRAN: The debt-to-equity ratio (D/E) is a financial ratio indicating the relative proportion of shareholders' equity and debt used to finance a company's assets. Closely related to leveraging, the ratio is also known as Risk, Gearing or Leverage. Year |Equity |Debt |Debt to Equity Ratio|NI |EPS | | | | | |(in Millions) | | |2005 |330. 04 |165. 94 |33. 46% |40. 77 |50. 96% | |2006 |337. 69 |152. 59 |31. 12% |28. 95 |36. 19% | |2007 |327. 93 |114. 00 |25. 80% |29. 33 |36. 66% | |2008 |342. 71 |92. 9 |21. 25% |35. 95 |44. 94% | |2009 |359. 97 |138. 99 |27. 86% |39. 97 |49. 96% | Table: 3 From the table: 3 we can say that that in 2005 when the D/E ratio was 50. 96% the company experienced the highest EPS. If we compare the D/E ratio and the EPS of 2008 and 2009 we see that in 2009 the debt ratio has increased by 6. 61% which had a positive effect on the EPS as a result the EPS increased by 5. 02%. It shows that when the D/E ration increases the EPS also increases.If we look at the graphical presentation it will be easier for us to understand which is given below. [pic] Figure: 4 If we take the average of the D/E ratio from 2005 to 2009 we see that on average PRAN is maintaining a D/E ratio of 27. 90%. In short we can say that 27. 90% of the total equity is financed by Debt. It means that the PRAN is moderately aggressive towards the debt financing. As a result they have a lower Financial Risk and higher Business risk. Conclusion: PRAN is one of the reputed companies in the Dhaka Stock Exchange and they fall under the Category â€Å"A†.From year 2000 to 2009 PRAN has always have paid cash dividend however they have never paid stock dividend. PRAN is maintaining a reserve capacity Dividends can be used to budge assets out of the company and consequently from the potential allege of creditors which can be injurious to creditor wealth, and creditors will beyond a shadow of a doubt take pricing or contractual actions to offset these latent uses of dividends. The contemplations of signaling, agency and the effects of market imperfections upon optimal dividends are imperative dimensions about which financial managers must be sentient. Recommendations:Cash and stock dividend, both should be paid without fail. Our stock market is not an efficient market. The available information most of the times do not lead to the desired reality. Many investors believe on the rumors and invest in the share market. Security Exchange Commission should take proper steps to minimize this condition. Disclosure of the overall market price in the annual report is desirable. The company can ideas from its investors to improve the situation and thereby engaging them in the part of the decision making process. Issuing of bonus shares can be a good option to attract the potential investors.