Study Of Month Effects On Stock Returns - Free Essay Example

Sample details Pages: 6 Words: 1847 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? According to the well known efficient market hypothesis, the stock prices in the future cannot be predicted from the historical trends in the stock prices. The market price of a particular day depends upon the demand and supply on that particular day and has no dependency on the historical data. It states that the market is efficient and no one can take abnormal profits because there are no trends in the stock prices and they cannot be forecasted. Don’t waste time! Our writers will create an original "Study Of Month Effects On Stock Returns" essay for you Create order But in the recent researches that have been made in the stock indexes all around the world have given evidences of anomalies seen in the stock indexes and returns that clearly negate the efficient market hypothesis. These anomalies or the trends are called as the Calendar effects. There are many calendar effects that have been detected in the various stock exchanges; the most widely known and searched are January effect, December effect, September effect, Monday effect. And there are others also that depend upon the country that is under study for example the Halloween effect in US stock market and Xmas effect in the English stock markets and Ramadan effect in the Islamic countries are well known. It is interesting fact that even though a lot of research has been conducted on these calendar effects and they have shown a lot of evidence in the stock markets all around the world, even now this has not been honored as a part of the literature. Mainly because if these calendar effe cts are studied over a larger scale of data, they fall weak in their significance. And gave an impression that these are not a reality but a mere illusion of the data or data mining. We in our paper have tried to study if there are any anomalies in the Karachi Stock Exchange. A larger data sample is taken so that the effect of the data mining would be decreased. And other tests would also be run to check the validity of the data and minimize the corruption of data mining. This study would be helpful for the investors in the country and abroad in making the right decisions for gaining profits. The study would also be helpful for the researchers all around the world in understanding more clearly this illusion of calendar effects, better, because Karachi Stock Exchange is the one that has been least studied in this context. Finally it would be helpful for the Karachi Stock Exchange itself, we believe, in drawing the attention of the researchers towards it and giving a positive im age in the research world. LITERATURE REVIEW To see the calendar affects and their historical existence, we will have to go back till Fama (1960) introduced the term called as the efficient market hypothesis, according to which the stock markets shows a random walk behavior and that the stock prices are not affected by the historical patterns in the stock market or in other words, the stock prices cannot be predicted. Also the theory stated that there is a uniformity of information in the market. And everyone trading in the market has the same information available to him and because of this uniformity in the stock information; no investor can take the abnormal profits. Various studies and researches were then performed to study the existence of this efficient market hypothesis. But some results were found that were totally contradictory to the efficient market hypothesis and its random walk behavior. Angel Berges, John J. McConnell, and Gary G. Schlarbaum (1984) found out that January effect was visible in the Canadian stock exchange and that the January stock returns were higher than every other month of the year ranging on a data period of 29 years from 1951-1980. These researches gave rise to other researches being conducted on January effect and finding out if there were any other anomalies in the stock exchanges as well. Lakonishok, J., Smidt, S. (1988) studied the Dow Jones over a period of 90 years data and found out significant abnormalities in the stock prices, the most obvious the Monday effect, at the end of the month, at the end of the year and the holiday effect. Having searched on this large scale data of 90 years considering these anomalies due to mere luck is not likely. The research then spreading to the other countries showed the presence of these anomalies in them as well. Anup and Kishore Tandon (1994) conducted a research on five seasonal patterns in the stock markets of eighteen countries. End of the month anomaly was seen in many countries. The large January returns are also seen in most countries. Apart from that Boudreaux (1995) also conducted research on stock markets of seven countries to find out significant positive monthly effects in Australia and Canada, while negative monthly effect in Japanà ¢Ã¢â€š ¬Ã¢â€ž ¢s market. P Hansen  (2003) conducted research on 27 stock indices from 10 countries, Denmark, France, Germany, Hong Kong, Italy, Japan, Norway, Sweden, UK, and USA and found 17 possible calendar effects containing 12 month-of-the-year and the 5 day-of-the-week effects. Grimbacher, Swinkels and van Vliet (2010) used a sample from 1963-08 find the Halloween and the turn of the month effects as the most significant of all anomalies and the January effect to be the weakest. These anomalies in the stock exchanges have shown varying results in different countries. For example Bin Li, Benjamin Liu (2010) performed the research in New Zealand Stock Exchange found out significant positive results in June and negative results in August , an anomaly that is not to be seen in UK stock exchanges. Also there was a very less significant January and April effects, present in just two industries indices in the sector. Also there has been a lot of controversy regarding the acceptance of these calendar anomalies as realistic or just because of a mere chance or because of the data mining. Jacobsen, Zhang (2010) used a wide scale data of 317 years of UK stock exchange to verify if these calendar effects were real or just by mere chance. The results also proved the existence of the calendar anomalies. And also shows a change in these anomalies along the time. Pre 1850 there was a December present in the market that changed into the famous January effect afterwards. Underperformance of the stock in the months of July and October is also evident in the data. So there has been a research in the stock exchanges all around the globe and they have found anomalies in the stock exchange returns, despite of the fact that they mi ght have been seen because of the data mining factor. A recent attention has also been given to the Karachi Stock Exchange as well to study if there exists any anomaly in KSE. F Husain (1998) took 36 individual stocks, 8 sector indices, and the general market index, covering the period from January 1, 1989 to December 30, 1993 to study if there was any Ramadan effect in the stock market and found out that although stock returns decline in the month of Ramadan, the reduction, in general, is not significant. There is strong evidence of a significant decline in the volatility of stock returns in this month. S Ali (2009) went to research with a bigger scale data of the KSE comprising closing daily, weekly and monthly data of the KSE 100 index for period starting November 1991 to October 2006. The results again showed neither monthly calendar effects nor days of the week effects. Positive average returns were witnessed in the first and second week while the third and fourth week sh owed average negative returns. There are no monthly calendar effects in the market either. DATA METHADOLOGY We have used the daily Karachi Stock Index ranging across a period of five years from January 2006 to December 2010.The close of day Rt is computed from KSE 100 index as follows: Rt =ln (It/I t-1) Rt is the daily return on KSE100 index on day t. It and I t-1 are closing values of the month respectively. To investigate the calendar effect we estimate the following regression equation: Rt =ÃŽÂ ²1Jt+ ÃŽÂ ²2Ft+ ÃŽÂ ²3MRt+ ÃŽÂ ²4APt+ ÃŽÂ ²5MYt+ ÃŽÂ ²6JNt+ ÃŽÂ ²7JLt+ ÃŽÂ ²8AUt+ ÃŽÂ ²9St+ ÃŽÂ ²10Ot+ ÃŽÂ ²11Nt +ÃŽÂ ²12Dt+à ¡Ã‚ ½Ã‚ ²t Where Rt is the daily returns and Jt, Ft, MRt, APt, MYt, JNt, JLt, AUt, St, Ot, Nt Dt are dummy variables for January, February, March, April, May, June, July, August, September, October, November, December respectively. If it is January than J=1 and à ¢Ã¢â€š ¬Ã…“0à ¢Ã¢â€š ¬? for all other days of the year, if it is February then F=1 and F= 0 for all other days of the year and so forth, à ¡Ã‚ ½Ã‚ ² is a ra ndom term. B1 à ¢Ã¢â€š ¬Ã¢â‚¬Å" B12 are co-efficient to be estimated using OLS. Empirical Results We conducted study to investigate the Calendar effect in Karachi stock exchange. We calculate monthly market returns for each month of the year, by using KSE-100 index daily data. Descriptive Statistics: Table- 1 Descriptive Statistics months Minimum Maximum Sum Mean Std. Deviation Variance Skewness Kurtosis Statistic Statistic Statistic Statistic Statistic Statistic Statistic Std. Error Statistic January -5.2785 4.7051 13.2874 .119706 1.4792473 2.188 -.789 .229 3.671 February -5.1349 4.1101 20.7684 .205628 1.3439130 1.806 -.354 .240 2.518 March -4.5007 5.3012 25.6476 .231059 1.5719945 2.471 .052 .229 1.590 April -3.9478 4.3185 15.3018 .143008 1.3536062 1.832 -.080 .234 2.408 May -4.6204 3.5514 -42.1196 -.382905 1.5753882 2.482 -.582 .230 .389 June -6.0418 8.2547 11.8456 .109681 2.1339432 4.554 .218 .233 2.150 July -4.5345 3.8806 5.1754 .046625 1.5524969 2.410 -.554 .229 1.439 August -3.9848 4.3948 -25.1996 -.229087 1.7060419 2.911 - .140 .230 .129 September -2.6705 2.9424 22.4747 .210044 .9636335 .929 .453 .234 .955 October -4.4355 2.8350 18.1200 .163244 1.0256923 1.052 -.889 .229 4.644 November -4.6738 2.7165 -2.3470 -.021934 1.1849094 1.404 -.775 .234 2.411 December -4.8184 2.6518 -41.2052 -.371218 1.5305945 2.343 -1.303 .229 1.285 By descriptive statistics we noted that mean return of the March is higher than the rest of the months. The mean return on March is 0.231059 whereas the mean returns of the rest of the months is an average of -0.018596. The higher mean return shows that there is March effect in Karachi stock exchange. Table- 2 Regression Analysis Model Unstandardized Coefficients Standardized Coefficients T B Std.Error Beta B (Constant) .047 .141 .331 Jan .073 .199 .014 .367 Feb .159 .204 .028 .779 Mar .184 .199 .034 .926 Apr .096 .201 .018 .479 May -.430 .200 -.080 -2.151 Jun .063 .201 .012 .314 July .033 .148 .006 .221 Aug -.276 .200 -.051 -1.381 Sep .163 .201 .030 .813 Oct .117 .199 .022 .585 Nov -.069 .201 -.013 -.341 Dec -.418 .199 -.078 -2.097 Regression results and related statistics are presented in table 2 and ANOVA test results are presented in table 3 Table- 3 ANOVA Model Sum of Squares Df Mean Square F Sig. 1 Regression 60.081 11 5.462 2.480 .004(a) Residual 2848.185 1293 2.203 Total 2908.265 1304 The results show that there is March effect in Pakistani stock market. The t value for the month of March is 0.926 which indicates a greater impact on the Rt. ANOVA suggest that the model is significant with F significance 0.004. Which indicate the fitness of the model. CONCLUSION In this study we have examined daily returns of KSE-100 Index, from the period starting 2006 till end of 2010, with a purpose to find out if there exist any monthly anomalies in the returns. In Karachi Stock Exchange, trading occurs five days a week (Monday, Tuesday, Wednesday, Thursday and Friday) throughout the year. The Efficient Market Hypothesis explains that there are constant market returns for the whole year. Empirical results of this study indicate that there is a significant March effect in Karachi Stock market. And this is proven by both the regression results and the descriptive statistics that are highest for the month of March than any other month of the year. March Returns are more volatile compared to other months of the year. So the results have concluded that in the recent five years, there has existed a month effect in Karachi stock market which is the March Effect. And thus the Efficient Market Hypothesis is violated in KSE.

Chapter 2 Review of Related Literature Sample - 1295 Words

CHAPTER 2 REVIEW OF RELATED LITERATURE AND STUDIES FOREIGN STUDIES In its broadest sense, impeachment is the process by which public officials may be removed from office on the basis of their conduct. Strictly speaking, it is the decision by a legislature to accuse an official of one or more offenses that warrant removal according to constitutional standards. A vote to impeach then triggers a trial based on those charges. The most famous impeachment proceedings have involved presidents, but every state has its own procedures. Most follow the federal model in general, but vary widely in their specifics. At the federal level, impeachment starts in the House of Representatives, where members may initiate resolutions to impeach a†¦show more content†¦Without a state House, the Nebraska Senate votes to impeach before passing articles on to the state Supreme Court for a trial. Oregon is the only state without constitutional provisions for impeachment of a governor or other executive and judicial officers, according to the NCSL. Those officials m ay be removed from office, but not by the state s legislature. State courts in Oregon may try public officials for criminal offenses, but the procedure depends upon the jurisdiction of a crime. LOCAL STUDIES Section 1, Article XI of the 1987 Constitution declares that â€Å"Public office is a public trust. Public officers and employees must at all times be accountable to the people, serve them with utmost responsibility, integrity, loyalty, and efficiency, act with patriotism and justice, and lead modest lives.â€Å" These words echo loud and clear today as our country’s leaders find themselves at the brink of conducting this constitutional process. Impeachment has been defined as a national inquest into the conduct of public men. It is a necessary safeguard to ensure that public officers have the moral fitness and integrity to fulfil their mandate. The provisions on impeachment are enshrined in Article XI of the 1987 Constitution. Under the Constitution only the following public officers may be impeached: The President, Vice-President, the Members of the Supreme Court, the Members of the Constitutional Commissions, and theShow MoreRelatedThe Effect Of Water Quality On Faecal Contamination1423 Words   |  6 Pagesof this research project is to investigate the water quality in the Barcombe Mills tributary. By collecting samples along the stream, becomes an attempt to be illustrated the qualitative state of water, centring on faecal contamination. It is attempted to assess the risk of water-related illnesses from faecal contamination to persons coming in contact with the river. 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Multi-generational plan Free Essays

It is widely known that the clash between the baby boomers and the generation Xers goes way back especially in the work place. As a result certain jobs could get compromised because of these clashing attitudes. It was well known though that both these generations could actually present ideas that could help the business running. We will write a custom essay sample on Multi-generational plan or any similar topic only for you Order Now The main problem about these two generations is the fact that they seldom go along with each other. But who are the baby boomers and the generation Xers? The baby boomers were widely known to be the people born between 1946 to 1964 while the generation Xers were people born between 1965 to 1980. Baby boomers were known to have plenty of opinions when it comes to political issues and they usually believe in longer time for work while the generation Xers witnessed or lived the technological boom of the world and are more skeptic than any other generations (â€Å"Workplace generation gap: Understand differences among colleagues,†). The long term goal then is on how these two generations could come together for the benefit of the company or business. The main key to make these generations come together is to eliminate the tension between the two by helping each other understand the usual personality or outlook that each generation has. There could be a program that would lead to the understanding of the two generations. Although, those organizing these programs should be on alert on what they ought to do especially when this kind of program could easily lead to prejudice. A good suggestion of this program is to put the two generations in each others shoes. A group dynamic could be done and these activities/projects should reflect a certain aspect where both generations could be useful. Then the next step here is to render respect for each of the generations. The respect should come out genuine. If respect were done for the sake of respect then these people might not have really understood the plight of each generation. References: Workplace generation gap: Understand differences among colleagues. (July 6, 2005).  Ã‚   Retrieved August 1, 2007, from http://www.cnn.com/HEALTH/library/WL/00045.html       How to cite Multi-generational plan, Essay examples

Microeconomics Principles. Problems - and Policies

Question: Discuss about the Microeconomics for Principles. Problems, and Policies. Answer: Introduction: The market force in a purely competitive market determines Price and quantity. In a competitive market a seller is price taker. Market supply is the aggregate output produced by all the firms (Baumol and Blinder 2015). As per law of demand, quantity demanded of normal good increases when price increases, ceteris paribus. Here, the assumption is other things such as income of the consumer, price of the other related goods and preference of the consumers remain the same. It has been assumed that the beef market is perfectly competitive. This assumption indicates that there is large number of sellers of beef and consumers have perfect information regarding product and quality (Parkin and Bade n.d). As per case study, multiple substitutes of beef exist in the market. Initial equilibrium is achieved in the market at the point E. S1 and D are initial demand and the supply curves in the beef market. At this point, total market demand for beef and total supply meets each other to clear the market. One of the main reasons for the rising price of beef in the market is decrease in supply of beef. Production of beef has decreased in West Australia as the number of cattle going to the local abattoirs has decreased. Moreover, number of processed claves has also decreased. Therefore, quantity supply of red meat has decreased. As the supply of cattle has reduced, supply of beef has reduced in the market. The market supply curve of beef has shifted to the left. At each price supply of beef has reduced compared to initial level. Change in price and supply of substitute goods have been ignored in this analysis as ceteris paribus assumption is held. Movement of price is along the demand curve. At P1 prices, demand is more than supply of supply of beef and hence, excess demand is created in the market. Firms are unable to supply beef by the amount of excess demand due to low production. Therefore, prices start to increase to clear the market assuming ceteris paribus. As price starts to rise above P1, some consumers, who do not want to buy same quantity at a higher price, are excluded from the market. Consequently quantity demand starts to decreases. The gap between demand and supply starts to decrease to absorb excess demand from the market. Price rises until the new equilibrium is reached at the point where new supply curve cuts the demand curve in the market. It has assumed that market demand has not changed. E2 is the new equilibrium, where new beef price is restored at P2 and the quantity demanded reduced to Q2. Elasticity of demand is determined by the change in the quantity demanded in response to the price of the product. Elasticity may be price elastic, inelastic and unitary elastic. Demand is elastic when the quantity demanded changes more than proportionately compared to change in price of the product, ceteris paribus. Thimmapuram and Kim (2013) mentioned that price elasticity of demand is negative as per law of demand. Law of demand states a negative relationship between price and quantity and the hence, the price elasticity of demand is negative. Weyl and Fabinger (2013) stated that price elasticity of demand is of two types such as own price elasticity and cross price elasticity. Own price elasticity reflects the change of quantity demanded due to change in own price of the concerned product. On the other hand, cross price elasticity refers to the change in quantity demanded due to change in price of a related good such as either substitute or complementary. Price elasticity of demand for beef is price elastic as it abides by the law of demand. One reason for elastic demand is availability of alternative in the market at a lower price. As the price of the beef increases by a small unit, quantity demanded of beef in west Australia increases more than proportionately. Same instance happens when price of beef falls. ep 1. When, price of beef rises, consumer surplus reduces. Ability of the consumer to purchase same quantity at a given price decreases. Therefore, consumer expenditure on beef decreases. When price increases other things remaining same, purchasing price of the consumer falls. The people with low income reduce consumption of beef and find other alternatives in the market. As the price elasticity of beef is greater than one, hence, small in price has greater impact on consumer expenditure (McConnell, Brue and Flynn 2014). Furthermore, as there is other alternative meet such as Spaghetti bolognaise and T-bone steaks, chicken in the market with falling price, consumers can easily move for those products. Hence, from the above discussion in can be inferred that consumer expenditure on beef market is reduced. The markets that are related to the beef market are chicken, Spaghetti bolognaise and T-bone steaks in West Australia. These are the substitute product of beef. As cited by Hall and Lieberman (2012), when price of good rises, demand for substitute good rises as demand for the concerned product falls. When the effect of price change on substitute goods are concerned, it is assumed that other things such as price for the product, income of the consumers and their preferences remain the same (Rios, McConnell and Brue 2013). Demand curve shifts to the left or right as the when price of substitute good changes. The following figure shows the effect of price change of beef on the market of other types of meet in West Australia. As price of beef increases, demand for other type of meet with low price increases. Hence, demand increases in the related market. However, in short run, there is no increase in supply. Therefore, excess demand is created at price P2. Price of other types of meet rises in the market in order to manage demand. Consumer surplus in this related market is reduced as well. As a consequence, price rises until the new demand curve cuts the existing supply curve. The new equilibrium price is P2, which is greater than previous one and the equilibrium quantity is Q2, which is greater than previous. Quantity sold in the market rises as demand has risen. References Baumol, W.J. and Blinder, A.S., 2015.Microeconomics: Principles and policy. Cengage Learning. Hall, R.E. and Lieberman, M., 2012.Microeconomics: Principles and applications. Cengage Learning. McConnell, C.R., Brue, S.L. and Flynn, S.M., 2014. Microeconomics: Principles.Problems, and Policies,16. Parkin, M., and Bade, R., (n.d) Microeconomics: Australia in the Global environment. First Edition. Rios, M.C., McConnell, C.R. and Brue, S.L., 2013.Economics: Principles, problems, and policies. McGraw-Hill. Thimmapuram, P.R. and Kim, J., 2013. Consumers' price elasticity of demand modeling with economic effects on electricity markets using an agent-based model.IEEE Transactions on Smart Grid,4(1), pp.390-397. Weyl, E.G. and Fabinger, M., 2013. Pass-through as an economic tool: Principles of incidence under imperfect competition.Journal of Political Economy,121(3), pp.528-583.

The Six-Day War Essays - ArabIsraeli Conflict, Six-Day War

The Six-Day War The Six-Day War is a war between Israel and the Arab countries of Egypt, Jordan and Syria, which were helped by Iraq, Kuwait, Saudi Arabia, Sudan and Algeria. The war took place in June 1967. Background The war began because of the general struggle between Israel and the Arabs which had been going on since Independence. After Israel withdrew from the Sinai in 1957, the U.N. put soldiers there to try and keep the peace. But, before the 1967 war, Egyptian president Nasser expelled the U.N. peacekeepers. In May of 1967, all the countries were mobilizing their forces to get ready for war. Then Egypt blockaded the Gulf of Aquaba which was a vital transportation route for Israeli shipping. Israel thought that this was an act of agression and attacked. Battles on three fronts Israel had to fight the war on three sides. To the north-east, Syria, to the east, Jordan, and to the south-west, Egypt.. On June 5th, Israel launched planes to attack the Egyptian fighter aircraft on their airstrips. Israel destroyed 300 egyptian planes. Once the Egyptian airforce had been decimated, the Israelis began a land attack. Israel also used the air force to attack Egyptian convoys. One famous attack was that of the Mitla Pass, in which Israel set fire to hundreds of jeep, tank and transports. Israeli soldiers occupied the Gaza strip and pushed into the Sinai. On June 7th, the Israelis captured Sharm el Sheikh. The next day, all of the Sinai peninsula was under Israeli control; later that evening fighting ceased and Egypt surrendered. Israel attacks Jordan on June 5th as well. They also attacked the Jordanian air force, and destroyed 35 Jordanian planes. Land forces fought Jordanian soldiers in Old Jerusalem and on the West Bank of the Jordan river. On June 7th, Jordan surrendered to Israel. The attacks on Syria also began on June 5th. The Israeli air force attacked the Syrian air force with the same tactics as they used in Egypt and destroyed 60 Syrian planes. Then Israeli soldiers attacked the Golan heights. On June 10th, the Syrian government surrendered after Israel had conquered the Golan Heights. The situation at the end of the conflict The war left Israel with the greatest territorial gains of any war it had fought. The Sinai peninsula and Gaza strip were captured from Egypt; East Jerusalem and the West Bank from Jordan, and the Golan Heights from Syria. The new territory was four times larger than the area within its 1949 armistice frontiers. There was an arab population of 1.5 million people in the occupied territories. Conclusion The Six-Day War was one of the most important wars for Israel. It included the reunification of Jerusalem, which made it possible for Israelis to visit the Kotel. Israel also captured the Golan Heights, which prevents Syria from easily attacking their settlements. However, it has also caused lots of disputes over the occupied terriotories, especially over the West Bank.

Jamestown and Plymouth Plantat essays

Jamestown and Plymouth Plantat essays The beginning of colonization was very difficult for the early settlers in the New World. Disease, starvation, greed, and aggressive Native Americans were factors that lead to the end of many colonization attempts in the Americas. The first two successes were Jamestown and Plymouth Plantation. There were many differences between the two, such as the type of local government established, the kind of relationships maintained with the local natives and the way they became self-sufficient. Jamestown used military rule for much of the first decade as a colony. They soon moved to an assembly that was elected by the people. Before the inhabitants of Plymouth Plantation set foot on the New World in the leaders of the expedition drew up the Mayflower Compact, by doing so they formed a civil government. This gave them claim to the land and to rule it in the name of the King. These early forms of democracy seem to have been the best way to rule, due to the many ideas and different backgrounds of many of the inhabitants. Jamestown was on shaky ground from the beginning with the natives leading to two wars with the Pawhatan Indians. They alienated any Indian allies they might have had by forcing them to bow before the King of England. Plymouth started off on the right foot by procuring the help of two English-speaking Indians. These two Natives taught colonists how cultivate corn and acted as envoys with the local natives. This allowed for extensive trade with the Indians of that region. The Plymouth colonist had surpluses of corn crop, which they traded with northern natives for furs. They soon made agreements with the Dutch to split the fur and wampum trade in the New England area. Jamestown on the other hand cultivated many varieties of tobacco and exported it to Europe. Tobacco was in such high demand that the Virginia Company of London pumped more people and money in to the co ...

Challenges Facing the East Asia Region Essay Example | Topics and Well Written Essays - 1250 words

Challenges Facing the East Asia Region - Essay Example Challenges Facing the East Asia Region a) Competing interests of China and Japan The polities, economies and the populations of East Asia are all dependent on the competing strategic interests of China and Japan, which pose a challenge to individual states within the region (IISS, 2014). This challenge has been aggravated by the security factors as well as the competition for territories amongst the two superpowers in the region such as the control over certain islands and parts of the sea (Feigenbaum, 2015). For example, Japan has made attempts at being the major player in the region in terms of security and the management of contested regions such as the Senkaku/Diaoyu Islands and the South China Sea. Moreover, the perceived closeness to the United States as is the case of Japan as opposed to China has further brought challenges in the determination of the geopolitical positioning of nations in the East Asia region. The above point implies that that the assertive reaction of China to the regional security of the East Asia region coupled with Japan’s nationalism in foreign policy has had an enduring effect on the neighboring nations, hence worsening the situation in region. For example, the Philippines and Vietnam as other players in the East Asia region have sided with Japan in the handling of the territorial issues with regard to the contested islands and sea territories. Apart from the above two dominant players, the major players in this region that derive their influence from them are North Korea and South Korea.

Transition services in special education Coursework

Transition services in special education - Coursework Example Transition services normally coordinated and designed within an outcome-oriented process that aims at promoting movement from school towards post-school life activities. These activities are usually based on the needs, preferences and interests of the students. They include the activities needed in the following areas: related services of disabilities, instructions, experiences in the community, daily living skills acquisition when appropriate, functional vocational evaluation and the development of employment and other living objectives of adult post-school life. The transition services are important in offering students with disabilities hope for their future. The community resources and agencies provide students with disability with adequate knowledge, and education can be tailored to the goals and strength of the students to providing the options and plans for the future life. It is not just enough to simply be aware that students with disabilities are in need of guidance to successfully transition themselves from high school life to the next stage of young adulthood life. Bold steps need to be taken to offer guidance and prepare the teenagers for college life and their future careers, as well as independent lives. Without such guidance in place, students with disabilities, more so learning disabilities, often fail during their high school life and beyond. All special education students regardless of the disability severity between the ages of sixteen (16) to twenty-one (21) years qualifies for transition services and must have transition components in their Individualized Education Plan (Pennsylvania Department of Education, Education Law Center, 2007). Planning in most cases begins from the age of sixteen (16) years, or when appropriate, as early as fourteen years of age. The Individuals with Disabilities Education Act (IDEA) requires the first Individualized Education Plan to be implemented once the student reaches sixteen (16) years of

Destination Essay Example | Topics and Well Written Essays - 1750 words

Destination - Essay Example A local tourism destination can be simply defined as a physical space where a visitor spends at least one overnight, and it includes tourism products such as attractions and support services and other tourism resources. The physical and administrative boundaries of the destination define its management whereas images and perceptions define its market competitiveness. In the current context of growing tourism sector contribution to the economic development of a region, an integrated management approach based on collective vision and strong leadership is vital to augment the scope of the destination. Destination management is an integral part of tourism development because this process is inevitable to meet the needs of foreign as well as domestic visitors effectively. According to the World Tourism Organisation, â€Å"destination management is the co-ordinated management of all the elements that make up a destination (attractions, amenities, access, marketing, and pricing.† (WH O, 2007, p. 4). Effective and joined destination management is beneficial to avoid duplication of efforts in relation to promotion, visitor services, training, and business support. In addition, destination management is a potential approach to identify management gaps that are not being addressed (Ibid, p.4). Hager and Sung (2011) claim that the concept of destination management delivers a range of benefits to the community as well as the economy and is particularly vital to respond positively to the growing need for multidisciplinary strategies aimed at local, regional, and national level tourism. In addition, destination management is beneficial to establish a competitive edge and to promote tourism sustainability. Furthermore, this collaborative management concept can assist tourism destinations to build a strong and vibrant identity. However, destination management is not a simple task as it requires extensive and collaborated efforts

Gender and Sexuality Barriers in Healthcare

Gender and Sexuality Barriers in Healthcare â€Å"Vancouver School Board Introduces Gender-Neutral Pronouns† – and many similar headlines spanned across website pages and swept newspapers stands just this past summer, surely an indication of progressive politics in action for the queer people of Vancouver. In this case, giving non-binary and gender-neutral identifying students in Vancouver a chance to use gender-neutral pronouns – pronouns that do not make assumptions about a person’s gender. No longer are they stuck having their identities ignored at school: they can be recognized and respected in official records for who they are. This recent event demonstrates how the social barriers that complicate the lives of queer people are disintegrating; however to me, it begs the question: are the same barriers disintegrating within the workplace? Or are they still present and as strong as ever? The barriers in question being a situation or event in which a non-binary gender (transgender) identified indiv idual is treated differently to a non-transgender individual, or if the same discrimination applies to someone because of their sexual preferences (sexuality). It is also important to understand the definition of â€Å"queer† and the false negative connotation that society associates with the word. The negativity stems from its original meaning of â€Å"bizarre†, â€Å"strange†, or â€Å"outlandish†; however, the word has evolved over time to now define and encompass people within the lesbian, gay, bisexual, and transgender (LGBT) community. In its essence, the evolution of the word is parallel to societies’ attitudes towards queer individuals – changing rapidly for a virtuous cause. Not only is the discrimination being experienced by queer people unethical, disrespectful, and wrong, but these barriers that Eliason et al., Brewster et al., and others have proven to exist through their research must be preventing a whole range of studies and fields of research from progressing as lawyers, scientists, doctors, and more are not hired solely based on their gender or sexuality (Eliason et al., 1365). It is also evident that many queer people will in fact leave their work place because of the discrimination, or even be fired because of higher management discovering their sexuality or gender (Eliason et al., 1365). In an effort to diminish these clearly existing barriers, the most prominent ones in the field of healthcare will be researched and discussed: What do scholars suggest are some of the key gender and sexuality barriers that exist within healthcare, and prevent others from entering healthcare in 21st century North America? Beginning with gender barriers that queer patients face inside the field itself, it is clear that physicians are less comfortable working with male-to-female (MTF) and female-to-male (FTM) transgender individuals than lesbian, bisexual, or gay (LGB) individuals, based on Eliason et al.’s research in 2011. The study spanned 45% of LGBT physicians in the Gay and Lesbian Medical Association and a select number of heterosexual, non-transgender physicians in the American Medical Association (AMM). Of the male physicians in the AMM, only 65% felt comfortable working with MTF patients, and 64% felt comfortable working with FTM patients (Eliason et al., 1363). The female physicians in the AMM came in with slightly elevated numbers: 66% felt comfortable working with MTF patients, and 69% felt comfortable working with FTM patients (Eliason et al., 1363). These numbers are relatively low when compared to comfortableness levels of physicians working with LGB patients. This can generally b e expected, as society has had more time to grow accustomed to LGB individuals, and thus most physicians are more comfortable when practicing with LGB patients, with an average comfortableness rate of 92%, 93.5%, and 91.25%, respectively (Eliason et al., 1363). A physician’s uncomfortableness levels with MTF and FTM patients can be related to unacceptable behaviour such as denying of patient referrals and accusation of â€Å"unethical behaviour† (Eliason et al., 1365). Non-conventional gender and transgender ideals â€Å"[†¦] challenge prevailing social conventions regarding the expression of gender [†¦]†, according to Brewster et al., who quoted Fassinger and Arsenau in their 2007 study, and are very new to not only the healthcare workplace, but society in general (61). However, according to Eliason et al., queer discomfort with patients stems from not only general unease due to differing societal norms, but the lack of LGBT education within medical s chools across the United States. Their study finds that some students are only exposed to as little as one hour of transgender health studies across their whole time spent at medical school. Of which, 56% of the students described the little time they had as â€Å"unhelpful†, whereas 76% of the students said that their own â€Å"personal experience working with LGBT patients† was very helpful (Eliason et al., 1362). Based on this research, these personal experiences should be cultivated in medical school in order to prepare students for facing real life experiences with LGBT patients when they proceed to become a physician. Even after stepping out of the healthcare work environment and looking at entrance to the field of healthcare as an LGB individual, it is apparent that sexuality barriers of entry to healthcare exist during even the earliest stages of education. 15% of students in Merchant’s, Jongco’s, and Artemio’s study were found not to disclose their sexuality during admission interviews to medical school because they felt that they would not be admitted if they did (786). Another 17% of students did not disclose their sexuality because they felt uncomfortable in the interview environment (Merchant, Jongco, Artemio, 786). Based on this evidence, one can extrapolate that a medical school which openly advertises LGBT support and education would essentially disintegrate these problems of interview admission, and also help bridge the apparent â€Å"not at all comfortable† gap between physicians and LGBT patients (Eliason et al., 1363). In the bigger picture, a student†™s sexuality is of no concern to any admission advisor of any school; students are not admitted, or should have their admission affected by their sexuality or gender identification. Additionally, from an objective point of view, if a medical school were to publicly advertise their openness and accepting nature of LGBT students, they would have more students apply and thus gain popularity, as LGBT students will seek out education in environments in which they are accepted and respected. This is evident in Merchant’s, Jongco’s, and Artemio’s study, which displays a drastic increase in the number of students willing to disclose their sexuality when applying for university residence, as they are aware of the university in question’s advertised â€Å"affirming environment†, and that there is no consequence for admitting so (787). Even after graduating medical school, LGBT physician’s work environments do not seem to improve in any notable fashion. Common experiences amongst colleagues in the workplace consist of 65% of LGBT individuals recall hearing â€Å"disparaging remarks†, 22% feeling â€Å"socially ostracized†, and 15% being harassed by their fellow coworkers (Eliason et al., 1365). General psychology agrees that this discrimination is mostly due to the simple human nature of pushing away things that do not fit the sociological norm. Conversely, Brewster et al. present an alternative view on the source of workplace discomfort with LGBT individuals; describing the workplace relationships as being built from â€Å"lower job satisfaction and higher anxiety†, using Lyons et al.’s, Smith Ingram’s, and Waldo’s research to prove their point (61). Although almost all researchers agree that the negativity towards LGBT patients, LGBT physicians in the workplace, and LGBT students is decreasing, there is a common consensus among gender and sexuality researchers that it is difficult to measure the rate of change in negativity (Burke, White, 61; Eliason et al., 1366). The difficulty arises from having simply too small of a sample size for conducting research at regular intervals of time. Burke and White argue that LGB individuals comprise of roughly 3% of the population (a very â€Å"conservative estimate†), and that if these proportions apply to the healthcare field, there would only be 20,000 LGB physicians across the country (61). And of course, not all of these physicians would be willing to participate in a study. This limits a research essay to only having a select few studies available for analysis. Another limitation that exists within queer research is the fact that gender-variant and differing sexualities are very new, and thus have had less time to be observed and addressed. However, as society becomes more accepting over the course of time in the workplace, the barriers of gender and sexuality to healthcare should shatter to give rise to acceptance, and research will hopefully not be in need at all. Works Cited Eliason, Michele J., Suzanne L. Dibble, and Patricia A. Robertson. Lesbian, Gay, Bisexual, and Transgender (LGBT) Physicians Experiences in the Workplace. Journal of Homosexuality 58.10 (2011): 1355-371. LGBT Life with Full Text. Web. 17 Nov. 2014. Brewster, Melanie E., Velez Brandon, DeBlaere Cirleen, and Moradi Bonnie. Transgender Individuals Workplace Experiences: The Applicability of Sexual Minority Measures and Models. Journal of Counseling Pyschology 59 (2012): 60-70. PsycARTICLES. Web. 17 Nov. 2014. Burke, Brian. P., White, Jocelyn C. The Well-being of Gay, Lesbian, and Bisexual Physicians. Western Journal of Medicine 174.1 (2001): 59-62. Web. 17 Nov. 2014. Merchant, Roland C., Artemio M. Jongco, and Luke Woodward. Disclosure of Sexual Orientation by Medical Students and Residency Applicants. Academic Medicine 80.8 (2005): 786. PsycINFO. Web. 17 Nov. 2014.

The Semiotics of the Encore :: Concert Music Audience Papers

The Semiotics of the Encore Introduction In this reflexive paper, I wish to add a brief addendum to the literature about the semiotics of performance by examining the semiotic acts that surround the ritual of the encore in a live concert performance. I will bring to my analysis of this phenomena my twenty-some years of experience witnessing rock concerts in venues of all sizes and with a wide variety of audiences and performers. I will argue that there are specific elements to this ritual that are of particular interest to semioticians. I am going to attempt an admittedly incomplete semiotic analysis of the encore based on Daniel Chandler's guidelines for "D.I.Y. Semiotic Analysis," as found at http://www.aber.ac.uk/~dgc/sem12.html. The Umwelt of the Encore What are the important signifiers and what do they signify? - What is the system within which these signs make sense? - What connotations seem to be involved? (Chandler, based on Berger, 40-41) The Umwelt of the concert goer, or semiotic 'stage' of this event, includes: the literal stage, which is raised to a greater or lesser degree above the seats on the main floor of the concert hall; the levels of seating--the class structure, to put it in Marxist terms; the ushers and/or security; the tickets which are required to gain admittance; as well as the background of prior experiences that the concertgoer brings with him or her, and an infinite number of other aspects. Of course, this Umwelt, like all Umwelten, is not identical or universal for all of the concertgoers. Each individual member of the audience builds up their own particular knowledge structures of this kind of event; these structures form their own particular Umwelt. The more experiences of concerts, the more complex the Umwelt constructed around them. For instance, the Grateful Dead often performed two sets without an opening act. Most concerts feature two acts with an interim between them. A friend of mine, unfamiliar with the way the Dead's music and the way they structured their concerts, went to her first Dead show and in the intermission between sets, said loudly, as it had been twenty minutes or so since the band had left the stage, "Gee, when are the Dead coming on?" This was greeted with howls of derision from her surrounding neighbors, whose Dead-concert Umwelt was more developed. The most important aspect of the rock-concert Umwelt, I would argue, isn't directly observable: the invisible ring or wall around the stage which separates the performers from the audience.

Explaining Crime

Causes of crime are arguably criminology’s most important and largest research topic. In this process of research, criminologists and academics have used numerous theories in attempts to explain how and why people resort to crime (Ellis, Beaver, Wright, 2009). The purpose of this paper is to examine a case study first with the use of strain theories (ST), followed by social learning theory (SLT). The first section will involve a summary of the case of R v Mark Andrew HUGHES (2009) NSWDC 404 involving an outline of the offender’s personal life, of his crimes, and his punishment handed down by the New South Wales District Court. It is important to outline these facts in order to refer to them and appropriately analyse them. The following section will use strain theories to analyse factors and causes that lead the offender to commit his crimes. Anomie and strain theory will be used here with respect to Merton’s concept of â€Å"retreatism† (Merton, in Alder, Laufer, 1995), as well as Agnew’s general strain theory (GST) as it accounts for individual and emotional strain derived from negative relationships (Agnew, 1992). These will be the primary theories used for analysis in this paper as they are most relevant. The final section will involve the application of SLT. Drawing from the case of R v Mark Andrew HUGHES (2009) NSWDC 404, the offender is a forty seven year old man named Mark Andrew Hughes and will be referred to as Mr Hughes for the duration of this paper. Mr Hughes childhood involved a significant degree of negative stimuli. For example, Mr Hughes experienced rejection through the failed relationship of his mother and father at a very young age, resulting in the complete absence of his biological father. Mr Hughes was then subjected to his mother’s new marriage and relationship with a man who was to become his stepfather. This relationship became volatile and involved alcohol abuse and violence, resulting also in separation and divorce. In addition, Mr Hughes was subjected to his mother’s battled with some mental health issues, and problems with the abuse of prescription medicine. Mr Hughes adult relationships somewhat reflect his mothers. He married two times of which both resulted in divorce. Importantly, the first marriage was in 1991 and created three children, of which one tragically died at seven months of age. He is currently is having virtually no contact with the other two who are now teenagers. Mr Hughes notes his second marriage (1996-2005) was extremely important to him, however collapsed due to his relationship with drugs. This marriage created two children whom he has contact with every Sunday, however his current circumstances (in custody) means this is via telephone. Apart from the minimal contact Mr Hughes has with his two sons, he has been cut off from his family. It is also acknowledged that Mr Hughes had been seeing a counsellor however stopped just prior to his crimes due to the effects of his drug addiction at the time. Drugs have been a big part of Mr Hughes life from a young age. He began using cannabis at age twelve, and his first experience with heroin was age fifteen, which resulted in addictions and long periods of residential treatment. It has been reported that in times of personal upheaval, Mr Hughes is incapable of controlling his desire to resort to drugs (substance abuse) in order to escape. In fact, in recent years Mr Hughes drug addiction has involved speed and ice to such an extent that he needed to remain high (drug-affected) in order to avoid the pain of â€Å"coming down†, which was a daily habit that cost over $400 a day. It could be said that as a result of Mr Hughes early life experiences, gaining an education was a struggle, and has been limited. For instance he finished his schooling half way through secondary education, resulting in several unskilled jobs however, shortly prior to a breakdown in his second marriage, and his criminal conduct, he held a job in a recycling factory for almost fourteen years. It should be noted that the court points out the findings from a well-known clinical forensic psychologist called W John Taylor, who states that based on Mr Hughes history, he felt he had a conduct disorder in his early teenage years, confirms he is clearly battling with drug abuse disorders, and is currently suffering with depression. However he feels that Mr Hughes is genuine in his desire to overcome his addiction with drugs, and with the right support, he has a chance at reforming his behaviour and addictions. This brings us to the second issue to be outlined, that is Mr Hughes crimes. Aside from a charge of break and enter as a child, another charge regarding sexual relations with a juvenile when he himself was a juvenile, and at the age of twenty-two, convictions for false pretences, theft and drug use, Mr Hughes has managed to remain crime free regardless of his drug addictions. Also, until the most recent crimes, Mr Hughes has never served a prison term. Thus in view of these facts, the court regards this as an insignificant criminal record considering Mr Hughes current age. During the months of September to the end of November 2008 Mr Hughes resurfaces with six serious criminal offences, mostly involving break enter and steal of which was from a business, a warehouse, a workshop and two homes. Two of these offences involved criminal acts that incurred separate charges, which were stealing a car from one of the homes he entered, and also damaging property. Importantly one of the six offences was an aggravated break enter and steal from a home as one of the owners (husband) came home and surprised Mr Hughes while he was inside stealing. Mr Hughes responded with aggressive behaviour threatening him with what has been described as wire cutter, eventually forcing the man on a bed and telling him to stay there and he would not harm him. The man warned Mr Hughes that his wife was due home and hoped this would scare Mr Hughes off, however it resulted in Mr Hughes tying up the victim’s hands, and gagging his mouth for a short period of time while he continued to steal and ransack the home. It was mentioned that Mr Hughes did not cause any physical harm, however the crime is regarded as very serious. Finally, the court came to the overall sentence for his crimes of eight years and five months, with a non-parole period of five years and five months. The sentencing process considers a range of factors which will be discussed later. Agnew’s (1992) GST proposes that crime is committed as a result of pressure or strain that is derived from negative relationships and subsequent life experiences or events through those relationships. These relationships include three types of strain that involve situations where a person has taken away something valuable from another, ruined another’s opportunities to achieve a valued goal/s, or the infliction of offensive and unwanted stimuli (Bernard, Snipes, Gerould, 2010). The consequences of being subjected to strains of this nature, is the generation of various negative emotions within the person like depression, fear, anger, frustration, disappointment, and anxiety. Thus, depending on an individual’s characteristics and environment, these negative emotions can lead them to commit crime (Agnew, 2006). The way in which a person responds to this strain and subsequent negative emotion, is to either accept their current situation with a positive outlook, which usually involves the individual having a good support network; or turning to delinquent behaviour and the use of drugs to avoid negative emotions (Agnew, 2006; Bernard, Snipes, Gerould, 2010). From this we can already begin to see some of the aspects of GST in the case of Mr Hughes. For example, referring back to Mr Hughes personal details, Agnew would argue that because this man’s troubles started as a child through the loss of a relationship with his biological father, the introduction of a new father who presented negative stimuli and was â€Å"imposed/not wanted†, and he was unable to remove himself from this situation or relationship due to his age, he was therefore subjected to the effects of emotional strain. In addition to this, the most significant person in his life (mother) was also presenting negative stimuli by self-medicating and engaging in volatile arguments with the stepfather. According to GST, as a child/adolescent, Mr Hughes would have been suffering with feelings like fear, anger, and disappointment, and so taking drugs was his way to directly cope/manage these emotions and interpersonal problems (Agnew, 2006). The fact that Mr Hughes was very young when he began to take drugs, as well as dropping out of school early, and committing some forms of crime, is evidence of the explained process of Agnew’s concepts in GST, and in fact were primarily used to explain delinquency and drug use in adolescents (Bernard, Snipes, Gerould, 2010, p. 64). Additionally, before Mr Hughes committed these most recent crimes, he has in many ways re-experienced these issues in his adult relationships. For example, the tragic loss of his first born son, the loss of his contact with his daughters and wife from the first marriage, are all examples of something valuable being removed from his life. This then occurred again in the next marriage, which Mr Hughes had stated w as very important to him, and a very big loss. Social Learning theory can also help to explain this repeated experience of Mr Hughes and will be discussed later. There are two other explanations through the use of strain theory that can help to explain why Mr Hughes lived most of his life crime free, in spite of his drug habit, before committing his most recent crimes. Firstly Agnew developed another concept within GST in the form of â€Å"storylines† which operate at a time-based level and can help to draw connections from past events to explain current issues or ‘situation cues’ (see Agnew, 2006b). Using this concept it could be said that Mr Hughes most recent crimes are a result of his desperate need for money to support his sever drug habit that is primarily a result of coping with his emotions that stem back to childhood. The second concept is derived from Merton’s (1968) idea of anomie, where by society’s expectations and emphasis is strongly attached to the idea of always striving to achieve monetary success, which is generally proven through the accumulation of things like houses, cars, private schooling and general wealth. However Merton argues that opportunities to achieve this success are not evenly distributed, and it is usually the lower class citizens that struggle to achieve the final goal (Merton, 1968). Never the less, each individual is expected to continue to try for their own self-respect and value (Merton, in Alder, Laufer, 1995). Merton offers four ways in which people may respond to their ability to achieve wealth, or not, through institutionalized means (see Bernard, Snipes, Gerould, 2010, p157). The most relevant of these responses with regard to Mr Hughes would be ‘retreatism’. Rendering this concept, aside from long term drug use, the fact that Mr Hughes lead most of his adult life up until this point, as a law abiding citizen, and held his job for fourteen years, attempted to have a family on two occasions, and attended counselling in an attempt to rectify his personal issues and better himself, are all signs that he strived to achieve the expected societal goals and aspirations to the best of his ability within his available means. That is with limited education, no acquired skills, and limited social skills. From this, it would be argued that Mr Hughes has come to the realisation that he has once again lost his battle with drugs, and as a result failed another marriage, losing contact with his children a second time, then losing his long term job, finding himself without any family support of any kind, and thus believing, then accepting that he will never actually achieve anything. In his response to his battle to achieve, he has become a classic â€Å"retreatist†, as the strain became too much to bear, thus becoming deeply engrossed in his addiction with ice to such an extent that he had to steel to fund his addiction (Merton, 1968). The underlying societal values and importance of accumulating wealth are heard in the various comments of Judge Cogswell in response to Mr Hughes crimes, and in determining sentencing (see R v Mark Andrew HUGHES [2009] NSWDC 404). One example can be seen in this comment: â€Å"Once again, one can imagine the inconvenience and distress which the theft of computer and mobile phones must have had on the managers of that business†. These comments are not just due to the loss of the physicality of the objects themselves, but also their use in the business, as they would be an important aspect in facilitating the institutional means of achieving further success. Also in Mr Hughes most serious crime, the comments again refer to the victim’s home being used to commit crime. For instance it was stated â€Å"This must have been an extraordinarily terrifying experience for the clergyman, whose home was used to commit this crime by Mr Hughes†. This again clearly shows the importance, respect and value placed on achieved goods. These concepts of anomie and strain theory with regard to good societal goals and values are also considered and noted by the court with regard to Mr Hughes himself. For example a considerable amount of time was taken from Mr Hughes time to be served in prison to acknowledge the good in his values that was observed in the way of his remorse for his crimes, and quick pleas of guilt to all of his charges. It was stated â€Å"this has a significant impact on the administration of justice in this State†. And because he had never served time in prison before this could be regarded as special circumstances that enabled the adjustment of the ratio between the non-parole and parole period. However it was surprising that considering how in line a lot of the court responses were with the concepts found in strain theories, that one method in which could be used to help people like Mr Hughes, and that was recommended by the court appointed psychologist mentioned earlier, was later considered as un-important by Judge Cogswell. Mr Taylor had stated that in order for Mr Hughes to have a chance at rebuilding his life, his lack of social and emotional support must be considered, and believed that his program called â€Å"Ex-Inmate Program† could help with many of his issues. Mr Taylor’s ideas and concerns are in line with methods found in strain theories that would help to reduce the burden of strain (Bournard, Snipes, Gerould, 2010, p169) in the lives of people like Mr Hughes. Social learning Theory (SLT) compliments strain theory but most importantly can help to explain some aspects in this case that strain theory cannot. Firstly it can be argued through SLT that much of Mr Hughes negative behaviour has been learned through observing his mother and stepfather’s abusive relationship, nd his mother’s negative coping strategies as a result of them (Bandura, 1977). Refer back to the life history and crimes of Mr Hughes, the concept of learned behaviour may explain some of the vandalism and aggressive behaviour to the victim in Mr Hughes crimes that strain theories has not. Specifically, the concept of ‘differential associations’ in SLT would suggest that Mr Hughes has gone through an observational process over the course o f his young life that has equipped him with the skills to behave in the way he has (Akers, 1994). That he has been isolated from more pro-social behaviour, and therefore acquired various negative attitudes motives and rationalisations for his actions (Bernard, Snipes, Gerould, 2010). This can also help to explain the similar relationship behaviour and coping strategies that Mr Hughes had to his mother. Furthermore, Burgess and Akers (1966) developed the concept of differential reinforcement, which argue that individuals engage in behaviour in ways that will positively reward them and that they can identify with from observing others. Thus it can also be argued that Mr Hughes engaged in the type of criminal behaviour that he did to reward himself with goods and money that will fund/ reward him again with drugs, which then rewards him by removing not just his emotional pain, but the painful withdrawal symptoms he acknowledged he suffered at the time of these crimes. To combine both SLT and strain theories, Mr Hughes has in a sense experienced twofold the conditions to lead him to crime and negative coping strategies. For example SLT would argues Mr Hughes observed how to manage negative emotions long before he could fully experience or understand his own, through the observation of his mother’s benefits from self-medicating. Thus when he became overwhelmed with strain from his negative life experiences that are explained in the prior section through strain theories, he already had in place the learned methods/behaviour of relieving his emotional strain, which would be explained by Akers (1985) concept of ‘differential associations’. Thus the process of ‘retreating’ discussed previously in ST, became an easier process as he has mimicked or put into action his own interpreted version of coping with the use of drugs. However, unfortunately neither of these theories account for mental health or conduct disorder, both of which Mr Hughes was diagnosed with, and are significantly related to negative home environments, delinquency and substance abuse in adolescent (Linskey, Fergusson, 1995; Hinshaw, Lee, 2003). In conclusion, SLT and ST can help to understand most of the complex issues that lead to the criminal actions of MR Hughes. It is clear that both observing and experiencing negative stimuli has consumed Mr Hughes with various negative emotions that resulted in strain. It is not hard to understand from these theories how and why Mr Hughes became so addicted to drugs and struggled to manage his relationships effectively as a result of these factors. However what is not accounted for in these theories with regard to his behaviour and crimes, are the influences of his diagnosed conduct disorder he had as an adolescent or his current state of depression.

PC Unit Shipments Analytical Report

PC Unit Shipments Analytical Report Purpose This analytical report provides quarterly PCs shipment from the second quarter 2011 to the same quarter 2012. It would allow PC vendors to evaluate and measure their sales performances against their major rivals worldwide. As a result, they would be able to adopt new sales strategies.Advertising We will write a custom report sample on PC Unit Shipments Analytical Report specifically for you for only $16.05 $11/page Learn More The report provides data on previous shipments of PCs. Therefore, PC manufacturers can use it to predict future PC shipments globally. Summary During the financial period of 2012 in the second quarter, PC shipments declined as compared to the same period the previous year. The general decline was 0.1 percent based on data from the International Data Corporation (IDC). The graph indicates that HP might lose its position to Lenovo. Overall, the market is cautious as innovative products emerge. Thus, new strategies are necessary fo r PC vendors. Outlook Overall, the worldwide PC market experienced a decline in shipments. The IDC noted that the actual results did not match earlier projections of 2.1 percent growth every year. There were limited demands from major PC distribution channels within the first quarter of the year 2012. Most distribution channels did not want to increase their inventories before some PC firms could launch their new products. Consumer apathy had contributed to low purchasing of PCs. They noted that it was not strategic to purchase PCs in a rapidly evolving technology environment. Consumers expected new products in the market. For instance, many waited for the launch of Windows 8. In addition, others did not spend on PCs because of high prices. Demands for PCs have been low in the US and Europe.   However, the wave of low demands increased in other regions like Asia. This marked a dismal performance for the year.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Figure 1: PCs Unit Ship 2011-2012 From the results, IDC could validate its projections for the second quarter of 2012. IDC had noted that the second quarter was a transition period in which consumers’ anticipation for new products and pricing factors played major roles to slow down PC shipment globally (IDC, 2012). The introduction of new products and operating systems were critical in addressing the slow growth of PC shipments. These would assist distribution channels and consumers to know what to purchase. The Graph HP HP was the top PC vendor worldwide, but it experienced a decline in most regions. Slow market conditions had created unfavorable conditions for HP. In addition, distributors aimed to adapt to market changes. Lenovo The vendor held the second position. However, Lenovo reduced the difference between itself and HP. Analysts believe that the growth of Lenovo would also decline in th e coming quarters. Dell The manufacturer experienced significant declines over the period. Dell’s market shares declined while its target market segments did not perform well.Advertising We will write a custom report sample on PC Unit Shipments Analytical Report specifically for you for only $16.05 $11/page Learn More Acer Acer recorded a steady shipment within the quarters. It was able to be ahead of other competitors. Although its European market had recovered, Acer faced declines in demands from other regions. ASUS ASUS has grown steadily over the quarters in most regions. Most of its shipments originated from Asian and EMEA regions. The vendor’s steady growth has spread to other regions too. Regional Outlook The US The US market performed poorly than previously anticipated. It recorded a decline of 10.6 percent. Most vendors and suppliers faced declining demands for PCs. There was no incentive for buyers while others decided to wait for ne w products. Lenovo increased its market share against its major competitor in the US market. It recorded a growth of 6.1 percent in PC shipments. Middle tier distributors are sensitive to market fluctuations because they lack extensive resources to strengthen their positions. EMEA- Europe, the Middle East and Africa EMEA region recorded a positive growth as earlier projected. Economic recovery in Western Europe was responsible for the growth. Central and Eastern Europe led the region as consumers’ demands for PCs increased. However, the growth remained positive but modest. Japan The country experienced a positive growth in the second quarter of 2012 despite poor performance in the first quarter. Most demands emanated from commercial sectors. The effect of the quake could have initiated demands for new PCs to replace the damaged ones. Asia and Pacific region The region experienced a slight decline in demands for PCs. Shipments had declined in India and China. Moreover, other m arkets also recorded slow growths. However, Lenovo performed well in this region.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Audience This analytical report targets product developers and sales departments in various PC firms. Recommendation The report reveals that PC manufacturers face a tough market ahead. Technological, economic, and consumer factors have contributed to declines in demands for PCs. Thus, PC vendors must take the following initiatives: Sales departments must adopt new sales strategies PC manufacturers must create incentive for buyers PC vendors should introduce new competitive products in the market Vendors must look for emerging markets and many distributors in different regions PC manufacturers must be innovative to match changes in technologies Report Conclusion Overall, PC shipment has declined globally. Projections indicate that shipments would decline as economic, technological, and consumer factors change. Consumers have slowed down purchases while distributors want to clear inventories in preparation for new technologies and economic conditions. PC vendors need new strategies in such dynamic markets. Reference IDC. (2012). Global PC Shipments Stalled in the Second Quarter While Buyers Remain Cautious And Market Waits For New Products. Web.

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