Monday, December 23, 2019

How Do Reason and Imagination Shape Poetry - 1979 Words

â€Å"Here, the lofty and highly much praised artistic achievement of Attic tragedy and the dramatic dithyramb presents itself before our eyes, as the common goal of both artistic drives, whose secret marriage partnership, after a long antecedent struggle, celebrated itself with such a child, simultaneously Antigone and Cassandra.† (Friedrich Nietzsche on the relationship between the Apollnian and Dionysian) How do both reason and imagination shape poetry? Reason and Imagination are two concepts that seem opposed to one another. Reason is the ability of humans to make sense of things, and is grounded in reality while Imagination is a more abstract concept that is variously described as recreating experiences without them physically†¦show more content†¦Wilde states that â€Å"There is no such thing as a moral or immoral book. Books are well written, or badly written† suggesting that a poet or artist does not set out to embody any kind of morality or message, but simply to take Reason and shape it with Imagination into something that is well written. This is why he criticizes â€Å"Those who find ugly meanings in beautiful things† as being â€Å"corrupt without being charming†, since they are the same kind of people who believe Reason should take precedence over Imagination. But Wilde’s theories on how Reason and Imagination shape Poetry are best summed up by his statement â€Å"The moral life of ma n forms part of the subject-matter of the artist, but the morality of art consists in the perfect use of an imperfect medium†. Thus Wilde posits that while the Reason of the life of a man may form the basis of Poetry, Poetry is an imperfect medium to portray such a thing, so Imagination must take over to shape it into a perfect thing. Wilde also provides ideas for specific things that shape Poetry in conjunction with Reason and Imagination, naming â€Å"Thought and language† as the â€Å"instruments of an art† and â€Å"Vice and virtue† as â€Å"materials for an art†. Aristotle furthers these ideas and ranks the most important aspects of Poetics, with plot and character, chiefly products of the Imagination, ranking higher than Reasoning, which is chiefly the product of Reason. Most interesting is Aristotle’s assertion that plot isShow MoreRelatedAttic Romanticism : Reason And Imagination1705 Words   |  7 PagesApollnian and Dionysian) How do both reason and imagination shape poetry? Reason and Imagination are two concepts that seem opposed to one another. Reason is the ability of humans to make sense of things, and is grounded in reality while Imagination is a more abstract concept that is variously described as recreating experiences without them physically occurring, as well as bringing an artistic touch to these experiences. There is a general agreement that while Reason and Imagination work best in conjunctionRead MoreRule Analysis : Poetry By Poetry1353 Words   |  6 PagesRule Analysis: Poetry Introduction Poetry is a genre that expresses feeling through rhythm and tone, while creating a realistic vision of what the poet is imagining. Poems can either be short or could be lengthy, but they all have a meaning to them. A poem is often read for its message that it carries. The message is usually hidden in the context of the poem. Poetry is difficult because its language that is used is often indirect with the reader. There is no limit of subjects that can be used inRead MoreRomanticism1649 Words   |  7 Pagescentury began, Romanticism came into the light with a new perspective that intrigued the people. It stressed emphasis on emotions and imagination while also helping to realize the importance of self-expression. The American Romanticism movement illustrated inspiration, bias and predominance of individuals in the nineteenth century. Romanticism has a very small amount to do with events and manners traditionally thought of as romantic, even though love may seldom be the topic of Romantic art. It is ratherRead MoreSociology Imagination833 Words   |  4 Pagessociological imagination as the vivid awareness of the relationship between experience and the wider society. The sociological imagination is the capacity to shift from one perspective to another: from the political to the psychological; from examination of a single family to comparative assessment of the national budgets of the world; from the theological school to the military establishment; from considerations of an oil industry to studies of contemporary poetry.[1] Sociological Imagination: TheRead MoreThe Romantic Movement : The Influence Of The Romantic Era731 Words   |  3 PagesFacebook, Twitter, Instagram, Snapchat, and virtually any other social media would not exist as they do in 2016 without the influence of the Romantic Era. Though the Romantic Era occurred over 200 years ago, its characteristics are an intrinsic part of today’s culture and society. The Romantic Era was well know for attributes such as the feelings of intense emotion, individuality, imagination, and an ardour for the natural realm. The Romantic Movement aimed to overthrow the ideas of logic and orderRead MoreRichard Cory By Edwin Robinson943 Words   |  4 PagesRichard Cory Poetry can take many forms and shapes based on the authors personal experiences. These different styles can also be interpreted in many different ways based on the reader’s view of the poem. This possible change in views can give the poem many different meanings to each individual person. â€Å"Richard Cory† by Edwin Robinson, Edwin imbeds many of his past and personal experiences into the poem while still leaving the poem up to other peoples imagination and analysis’s. The best place toRead MorePoetry Finds Its Most Memorable Moments In Its Least Characterized1596 Words   |  7 PagesPoetry finds its most memorable moments in its least characterized elements. It is in the words that are not on the paper or spoken that poetry shines over other forms of communication. The quality and depth of implications in a poem are what separate good from great. It is in the ability to say so much by purposely not saying anything that makes poetry stand out in an observer’s mind. Things left incomplete or unsaid naturally stick out in people’s minds as there is a want to see the full imageRead MoreWordsworth And Shelley s On Powers And Illusions Of The Inner Imaginative Life1350 Words   |  6 Pagesideas. This essay will compare and contrast Wordsworth recollections and Shelley dramatizations of the powers and terrors of the inner imaginative life . Also considering, rhyme scheme, stanza forms, the reasons for the use of assonance and allitera tion, and other poetic techniques. Finally, how do these effects relate to the main question. When given consideration to the poems, the descriptions demonstrated a deeper power of inner imaginative life. The power as stated comes from the heart or theRead MoreReview Of The Principles Of Art 988 Words   |  4 Pagesbridge, nor is it accidental. In the past, it was thought that neither the skill of the artist nor his conscious mind had anything to do with art, for it was inspiration given by God that caused the artists to make something. Collingwood questions whether it is even necessary to theorize about art in order to solve the issue of what defines art. He suggests the term for how art is made should be simply â€Å"creation.† According to Collingwood, a creation is something â€Å"consciously and voluntarily† made. HeRead MoreThe Connections between Poetry and Science 1189 Words   |  5 PagesPoetry is a form art that involves language, imagery, and emotion. These key elements can be expressed in many ways just as there are many ways to interpret poet ry. While the poet can have a decisive meaning for the poem, the reader can interpret in many different ways that can be and usually are different from what the poet originally meant. In some cases, time can have an impact on what the poem means or how it is read. I know that I get a different meaning and feel from poems I wrote over a year

Sunday, December 15, 2019

Dream House Free Essays

Dream House As I get closer and closer to the island the house that I have always dreamed about awaits me. I can see it from a mile away. Everyone has that house that they ,have always dreamed about. We will write a custom essay sample on Dream House or any similar topic only for you Order Now It is so massive, that it is the most noticeable construction on the island. My own private plane lands on the landing strip located next to the house. As soon as I get off the plane, I then begin my voyage down the path that leads to my dream house. I am anxious to get to the house that I will spend the rest of my life in. Everything that surrounds me is simply amazing including all the trees and plants. It feels so good to be at a peaceful place and all you can hear are the birds chirping, smell the salt sea air. A nice tropical breeze on your skin, and warm white sand on my feet. As I draw nearer to the end of the road, my dream starts to appear. After all these years, I can now see my residence up close. Nothing could ever compare to the sight of my house. Nothing could have compared to the moment I was experiencing. What is better than looking at something you designed? My house is a five-story dream that lies on a twenty-acre lot. As I come near to the entrance of the house, four columns that lead to the most elegant doors in the world then surround me. The doors were made of mahogany with glass stained windows in the center of the each door. Each handle was made of brass along with brass frames. As I continue to walk around my house, I come across five windows that seem to overlook the house’s entrance. On each window, there are black shutters. The porch then continues to the backside of the house, as I am able to look over the ocean. When I look down at the ocean, I can see that there are two piers that protrude out in the ocean. The walls of the house are made of a good material to avoid damage from any weather. The outside of my house has an amazing view and I can only imagine what the rest looks like. On the inside of my house, I am able to stand in the middle of the living room and look up all five stories of the house. An elevator is to the right of the living room that is able to go to each story of the house. Each floor has two bathrooms (one full and one-half) with two to three bedrooms. When I walk in the kitchen, it is easy to see that any cook would love this kitchen. It has stainless steel appliances all shiny and gleaming. Just waiting for me use. As I look around I see every kitchen tool or gadget that one could ever think to use. It has a coffee maker in the wall that will brew fresh coffee all day. A grill that will be used to grill shrimp. I am standing in this kitchen just thinking of all the things I want to prepare. The best part of the kitchen is the counter in the middle that is a self-cleaning countertop for cutting and cleaning foods. I then walk to the back yard. Surrounding me is an outdoor oasis. I walk toward the road the first thing; I come across a full size basketball court. As I look to the right of the basketball court, I see a tennis court. The best part about my backyard is the bar that is in between the basketball court and tennis court. As I, approach the opposite side of the yard there is in ground pool. The great thing about the pool is that it is connected to a pool that is inside the house. I put my toe in and realize that it is heated. I can swim day or night. To the east of the house, there is a white gazebo. While you are sitting in the gazebo, you are able to see anything or anyone that enters or leaves the house. Everything I ever imagined was at my house. I planned this out very well to have all my needs and more. As my plane starts to leave to go home, I am able to take one last long look at the house that I had mastered. What I had experienced was my dream home. I could only think to myself, â€Å"This is my dream house and no one else’s, my dream house. † How to cite Dream House, Essay examples

Saturday, December 7, 2019

The Strategic Marketing Mix

Introduction Marketing mix is an amalgamation of elements which are essential for marketing and for promotion of the product or service. It is a framework and a useful business tool for analyzing, interpreting and hence executing marketing strategies. It is a determinant to enhance the market share, achieve exponential growth and create a wave of brand image into the minds of customer base. The Australian company Halfbrick Studios, located in Brisbane adopts a perfect blend of marketing mix in order to target the customers globally by aiming at global competency and introducing various games which had a perfect balance of each domain of marketing mix. The Company Profile Halfbrick Studios is a video game developer company who have developed some of the most interesting games like Fruit Ninja, Jetpack Joyride or Age of Zombies etc which spread like viral across the game enthusiasts around the globe. The customer base of the company is rising at a highly exponential rate of 750,000 per day. This is really a surprising figure of data and hence we will focus our study towards the marketing strategies and the 4P of marketing mix on Halfbricks Studios company. The innovation at company results into a perfect recipe which includes price, promotion, product and place as its key ingredients. The company calls for Halfbrick Fridays five to seven times a year when all the employees of all the departments in the company come together over a platform for innovation. Brainstorming sessions are carried out and outcome of these sessions are the innovative gaming ideas and methodologies which influences and attracts the whole world and make them glued to their smartphones. The strategies adopted by the company lies inherently in the style of coding which is hardcore, well constructed, and is based over a uniform platform of C++. Marketing Mix of Halfbricks Studios There are 4 Ps initially defined for the marketing mix are product, price, place and promotion. The company is dynamically updating the strategies for the marketing mix to incorporate the changing demands, needs, styles of the target customers. The strategies are timely updated and monitored by the managing heads in order to best fit the market. The prices of the products or say games are manipulated to earn maximum profits but also create sense of excitement and want in the minds of customers. The introduction of free Fruit Ninja game was one of the strategies of the company to make players addictive and hence buy the game later on to unlock the new arenas of excitement. This was an essential use of price attribute of the marketing mix. Even other games are present to the target customers at a minimal price and hence they are able to sustain the magic of the company and yet have become one of the most well known companies to fly a splash over the world market of gaming. The place of their operations, i.e. Brisbane is highly appreciated by the team all over the world where ever they go for business purpose as being really supportive and cordial for the success of the company. The organization considers Brisbane as a part of their identity and an essential part of the marketing strategy of the company. There were plethora of possibilities for business expansion but a great decision by the team was to remain functional from Brisbane itself because they love the culture and the atmosphere of the city which is a catalyst for their exponential growth and progress prospective. The price attribute undergoes various changes for targeting the upcoming markets but, the place attribute of marketing mix is still stable for functioning and this epic decision have made wonders happen to the organization. The products or games developed by the company are world famous and are being played by millions of users around the globe. Fruit Ninja itself has thirty million downloads a ll over the world and hence is grossing for enormous profits for the organization. The promotional aspect is widely focused upon by transforming the business concepts and models to align with the demands of the customer base. Earlier on the launch, most of the revenues were just from the commissions to create games for Playstation. Now, an ecosystem comprising of digital strategies and promotional aspects using the digital technologies to continuously evolve the distribution strategies. One of the most innovative promotion tricks and techniques were aiming at merchandising the game and its exciting heroes or features. For example, Fruit Ninja was highly popularized by various other games, fruit snacks, clothing range, plush toys and various other related merchandise for it. Hence, the company is digitally manipulating the target consumers and overpowering their mindset with a perfect blend of reasonable cost, place of functioning, high quality, attractive and gluing product games and innovative marketing promotional strategies adopted by the organization. By this ways the company has evolved from the cocoon of dormancy to become the leaders of the world in terms of gaming and equipment by gaining a competitive advantage over others of the genre. The needs of the customers are well mapped with the quality and interface of the high quality graphic games designed by the company and therefore, have an edge over their competitors. The culture of the organization is fun-filled and innovative to regards and acknowledge ideas and suggestions to improve and work upon products to make them fine day by day. People are assets and selection procedure of the company selects the best suited and cultural fit employees to work for innovation and coding of the company. The process is brainstorming of ideas and coming out with a fresh new concept to be implemented effectively and so that the strategy and idea can be mapped into the effective applications and games giving rise to more effective games like fruit Ninja to capture the world by its amazing aura. Into the competition There are various competitors for the company present in Australia namely Acheron Design, Redtribe, Tantalus Media and Torus Games. Torus games was developed in 1994 and have provided games like Rise of the Guardians, Monster Jam, barbie, Scooby-Doo etc. The advantage that the company has over the Halfbricks Studio is that it provides games for numerous platforms which outperforms the company under study. In addition, they also create engines and tools to concentrate over the superior content, quality and cross platform design and development. They lack innovative design strategies and do not provide free games in order for gaining profits by revenue collection like Halfbricks. So, in terms of price Halfbricks is ahead of Torus games due to huge success of Fruit Ninja and Age of Zombies over Rise of Guardians. This was a result of price attribute of marketing mix. The process for Halfbricks is innovative by inclusion of Halfbrick Fridays and is based completely over coding in C++ but development of tools and engines with the games and a wide coverage of gaming consoles is an advantage of Torus. The place attribute cannot be much compared as both are located in Australia but Halfbrick being in Brisbane and Torus in Melbourne, there is a factor or competitive advantage. Regarding promotion, both uses digital marketing, but Torus games believes on the concept of Push or Pull and serves the customers internationally via social media or help present in England to cover up vast areas. The Change Story Hence, it is prominent that the marketing mix is an excellent strategy to have a deep insight into the mindset and strategies of the organization and in this dynamic world, the organizations are adopting and adapting to changing practices and policies of marketing in order to expand their and to attract numerous customers into their pockets. It is a critical aspect of producing a required product using efficient processes by harnessing the talent resources of the people of the organization in an open environment and culture and by introducing the product at the right market and with a reasonably good price and with effective and innovative promotion practices and techniques to service the customers and to win their future collaboration.

Saturday, November 30, 2019

Throughout the centuries many authors have attempt Essay Example For Students

Throughout the centuries many authors have attempt Essay ed to capture the individuals quest for self-authenticity. In the novel Song of Solomon, Toni Morrison depicts the many aspects of self-actualization, as well as the tormenting road that leads to the shaping of an individual. Through beautiful language, with immense reality, she is able to describe young black mans journey as he uncovers his personal history, myth, and essence. The story revolves around generations, past and present, of a black family in the south. The character of Milkman (Macon Dead jr.) evolves through the descriptions, events, and experiences of others. His parents, Macon Dead sr., and Ruth Foster Dead, represent the wall-blocking Milkman from his true authentic identity. Many of Milkmans major problems are a direct result of his parents suffocating mistakes. Ruth breast-fed Milkman until he was six years old, hence the name Milkman. She was sexually repressed by her husband for twenty years, and used her young son as a substitute for sexual intimacy. Ruth believed that she possessed no authenticity, and that she was insignificant and isolated. By passing these negative attributes and emotions to Milkman she disturbed his natural process for growth, and ultimately left him feeling lost and insecure. Instead of encouraging Milkman to grow and mature, Ruth hoarded him into the world that she herself despised. We will write a custom essay on Throughout the centuries many authors have attempt specifically for you for only $16.38 $13.9/page Order now Milkmans father, Macon Dead sr., became a ruthless money hound after his father, Jake, was shot and killed for his property. This devastating event from his childhood made him miserly, insensitive, and stingy. Macon Dead sr. becomes a money hungry machine because he does not want to suffer the same fate as his father. Macon Dead sr. fails to tell Milkman the reasons behind his miserly attitude. Thus creating an insurmountable gap between their relationship. Milkmans mother and father both thrust their personal fears on him adding to the destruction of his personal identity. Only after Milkman uncovers these tribulations behind his parents identities, can he begin his quest for self-authenticity. By displacing the profound effect Milkmans parents have on his quest for self-actualization, Morrison is able to convey her theme of generational conflict. Without appropriate parental guidance, honesty, and explanation Milkman has trouble finding the authentic individual within himself. The inner turmoil within both Ruth and Macon Dear sr. reflects negatively upon Milkman, leaving him lost and unfocused. Morrison writes of this hole within Ruth, because the fact is that I am a small woman. I dont mean little; I mean small, and Im small because I was pressed small. (p. 124) Instead of accepting the problems with their own authenticity, both parents force their unauthentic values on Milkman. The overbearing needs of both parents result in Milkmans need to find his personal Identity in other places, other people. The individual who first inspires Milkman to discover his own identity is Pilate, the forbidden sister of Macon Dead sr. She is a mysterious woman, large, masculine, and frightening. Her brother abandoned her after years of support because she began making wine. Macon Dead sr. this drunken profession, and subsequently forbid Milkman to encounter her. Despite his fathers wishes Milkman is intrigued by Pilate and quickly becomes absorbed in her magical, spiritual, fulfilling world. This was the same world that once held his father in awe. Morrison writes, surrendering to the sound, Macon moved closer. He wanted no conversation, no whiteness, only to listen and perhaps to see the three of them, the source of that music that made him think of fields and of wild turkey and calico. (P.29) By entering into Pilates home Milkman begins to question why his father acts the way he does. Through Pilate, Milkman discovers a past that seems lost within his father. This realization begi!ns Milkmans quest for self-authenticity. .u5f67f893686059478bc0eb6380866b67 , .u5f67f893686059478bc0eb6380866b67 .postImageUrl , .u5f67f893686059478bc0eb6380866b67 .centered-text-area { min-height: 80px; position: relative; } .u5f67f893686059478bc0eb6380866b67 , .u5f67f893686059478bc0eb6380866b67:hover , .u5f67f893686059478bc0eb6380866b67:visited , .u5f67f893686059478bc0eb6380866b67:active { border:0!important; } .u5f67f893686059478bc0eb6380866b67 .clearfix:after { content: ""; display: table; clear: both; } .u5f67f893686059478bc0eb6380866b67 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u5f67f893686059478bc0eb6380866b67:active , .u5f67f893686059478bc0eb6380866b67:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u5f67f893686059478bc0eb6380866b67 .centered-text-area { width: 100%; position: relative ; } .u5f67f893686059478bc0eb6380866b67 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u5f67f893686059478bc0eb6380866b67 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u5f67f893686059478bc0eb6380866b67 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u5f67f893686059478bc0eb6380866b67:hover .ctaButton { background-color: #34495E!important; } .u5f67f893686059478bc0eb6380866b67 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u5f67f893686059478bc0eb6380866b67 .u5f67f893686059478bc0eb6380866b67-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u5f67f893686059478bc0eb6380866b67:after { content: ""; display: block; clear: both; } READ: Mozart Persuasive EssayMilkmans flight to identity takes him many places. He is fortunate to have a friend, Guitar, who is also lost, and hunting for his authentic identity. The two pursue adventures and their contrasting personalities leave them wit ha wide perspective on events and experiences. While Milkman seems quiet, poetic, almost stumbling on his authentic self. Guitar is eager, outgoing, and aware of his needs. Morrison creates Pilate as a metaphor for a pilot, guiding Milkman through his quest. The fact that

Tuesday, November 26, 2019

Why the Pennsylvania Germans Are Often Called Dutch

Why the Pennsylvania Germans Are Often Called Dutch First of all, we can quickly dispose of the Pennsylvania Dutch misnomer. The term is more properly Pennsylvania German because the so-called Pennsylvania Dutch have nothing to do with Holland, the Netherlands, or the Dutch language. These settlers originally came from German-speaking areas of Europe and spoke a dialect of German they refer to as Deitsch (Deutsch). It is this word Deutsch (German) that has led to the second misconception about the origin of the term Pennsylvania Dutch. Did Deutsch Become Dutch? This popular explanation of why the Pennsylvania Germans are often incorrectly called Pennsylvania Dutch fits into the plausible category of myths. At first, it seems logical that English-speaking Pennsylvanians simply confused the word Deutsch for Dutch. But then you have to ask yourself, were they really that ignorant- and wouldnt the Pennsylvania Dutch themselves have bothered to correct people constantly calling them Dutchmen? But this Deutsch/Dutch explanation further falls apart when you realize that many of the Pennsylvania Dutch actually prefer that term over Pennsylvania German! They also use the term Dutch or Dutchmen to refer to themselves. There is another explanation. Some linguists have made the case that the term Pennsylvania Dutch goes back to the original English use of the word Dutch. Although there is no definitive evidence that links it to the term Pennsylvania Dutch, it is true that in the English of the 18th and 19th centuries, the word Dutch referred to anyone from a wide range of Germanic regions, places that we now distinguish as the Netherlands, Belgium, Germany, Austria, and Switzerland. At that time Dutch was a broader term that meant what we today call Flemish, Dutch or German. The terms High Dutch (German) and Low Dutch (Dutch, nether means low) were used to make a clearer distinction between what we now call German (from Latin) or Dutch (from Old High German). Not all Pennsylvania Germans are Amish. Although they are the best known group, the Amish make up only a small portion of the Pennsylvania Germans in the state. Other groups include the Mennonites, the Brethren, and sub-groups within each group, many of whom use cars and electricity. It is also easy to forget that Germany (Deutschland) did not exist as a single nation state until 1871. Prior to that time, Germany was more like a quilt-work of duchies, kingdoms, and states where various German dialects were spoken. The settlers of the Pennsylvania German region came from the Rhineland, Switzerland, Tyrol, and various other regions beginning in 1689. The Amish, Hutterites, and Mennonites now located in the eastern counties of Pennsylvania and elsewhere in North America did not really come from Germany in the modern sense of the word, so it is not entirely accurate to refer to them as German either. However, they did bring their German dialects with them, and in modern English, it is best to refer to this ethnic group as Pennsylvania Germans. Calling them Pennsylvania Dutch is misleading to speakers of modern English. Despite the fact that Lancaster County and various tourism agencies keep using the quaint term Pennsylvania Dutch on their Web sites and promotional materials, and despite the fact that some Pennsylvania Germans prefer the Dutch term, why perpetuate something that contradicts the fact that the Pennsylvania Germans are linguistically German, not Dutch? Support for this opinion can be seen in the name of the Pennsylvania German Cultural Heritage Center at Kutztown University. This organization, dedicated to the preservation of the Pennsylvania German language and culture, uses the word German rather than Dutch in its name. Since Dutch no longer means what it did in the 1700s and is very misleading, its more appropriate to replace it with German. Deitsch Unfortunately,  Deitsch, the language of the Pennsylvania Germans, is dying out. Learn more about  Deitsch, the Amish, other settlement areas.

Friday, November 22, 2019

Case Analysis - Schindler India

Case Analysis Schindler India Essay MGT 554: International Business and Law Silvio Napoli at Schindler India (A) – A Case Analysis ____________________________________________________________ __________________ CASE ANALYSIS – SCHINDLER INDIA Schindler Holding Ltd, a respected Swiss elevator company, was established in 1874 by Robert Schindler and the first Schindler elevator was installed in India in 1925. After technical and sales collaborations with Indian companies, ECE and Bharat Bijlee Ltd. (BBL) in 1958 and 1985, Schindler Ltd decided to setup a wholly owned company in India in 1998. The Indian economy had been liberalized in 1991 and the economy was growing at a rapid clip with many commercial buildings, hotels etc, being setup. Sensing the growing opportunity, Alfred Schindler, Chairman and 4th generation founder family member, decided to invest in India. But he also knew that Indian elevator market was very demanding requiring customization even at the lowest elevator product range and very price sensitive. The market was also competitive and he was also aware that almost 50% of the market was captured by their worldwide competitors, Otis, and the remaining 24% by other well known brands like Finland based Kone etc. It was clear to him that entering this competitive yet potentially lucrative and profitable market would require services of a person with qualities of having a long term vision, foresight, be able to take high risks, be decisive, require thorough understanding of the local elevator market and to be able to adapt to the ever-changing local market conditions. Mr. Silvio Napoli seemed to have the right qualities for the job. Graduating with MBA from Harvard Business School, Silvio was appointed as head of corporate planning and was involved in strategic review processes, benchmarking and competitor analysis etc. hereby gaining good understanding of the global elevator market. He also gained good MGT 554: International Business and Law Silvio Napoli at Schindler India (A) – A Case Analysis ____________________________________________________________ __________________ experience managing a project that developed a standardized, low cost elevator for the highly saturated western e levator markets of France, Spain etc. , an experience that could also be leveraged for the Indian market. Silvio was also assigned with the task of evaluating the Indian elevator market for potential joint ventures, understand prevailing legal systems, estimate market size etc. and with this knowledge Silvio presented a India specific business plan to the corporate headquarters, which was quickly approved. So, Silvio should have been the right person for the job, but after reviewing his progress after 7 months, it became clear that he lacked essential qualities of having a long term vision, foresight, inflexibility and patience. Yes it is true that Silvio did a research about India and could get all the necessary information to start the wholly owned subsidiary of Schindler in India, but he lacked in understanding the cultural preferences and local preference to customizations. Silvio was strong headed and single minded, impatient and short tempered and also over communicative. He was not open to ideas communicated by his senior management, including managing director, Mehar Karan Singh, who emphasized on the need to have patience in the Indian market and develop relationships with customers. All these qualities of Silvio are not exactly appropriate in the Indian elevator market and could also lead to ineffective management control and dissatisfied subordinates. Given that Schindler was expecting large growth in a short period of time (sell 50 units in first year and have 20% of the market share within 5 years), it is clear Silvio also lacked execution capabilities. In the 7 months since Schindler established a dedicated presence in India, not a single elevator was installed in the country. Future prospects also looked bleak with no new concrete orders and escalated cost of elevators. READ: Essay on Junk Food By Judith Warner EssayMr. Luc Bonnard, Vice Chairman of the MGT 554: International Business and Law Silvio Napoli at Schindler India (A) – A Case Analysis ____________________________________________________________ __________________ company, naturally was not pleased with Silvio’s performance. From Luc Bonnard’s perspective, Silvio had managed to setup the entity in India in a very cost effective manner, without incurring major investments. The company had no dedicated elevator manufacturing facilities, no elaborate logistics or distribution investments and infact office space and furniture were also rented. Silvio had also hired some of the best local talent in key managerial and technical positions in the country. But these measures per se will not lead to profitability and it is recommended that for Silvio to succeed, he would have to first increase product offering in the country, showcase latest technology though it may be expensive in the price conscious market, start setting up a manufacturing facility and not overly depend on outsourcing every aspect right from assembly, be updated with the latest pricing from corporate headquarters and establish tighter communication and rapport between the local and corporate facilities of the company. Silvio formed new management team, which seemed to have a better grasp of the local elevator market conditions, was not comfortable with Silvio’s rigidity in concentrating on standardized elevators without much customization and seriously doubted if the company could be successful with only one low end, standardized elevator, S001. So, when there was a sales opportunity for some elevators, even though they required customization, the management team grabbed this opportunity without Silvio’s knowledge. But Silvio seemed to disagree or unhappy with this order since it went against his policy of minimizing elevator customizations and using only standardarized product offerings. There was no adaptability in Silvio’s business plan and he rigidly believed in global standardization strategy to focus on increasing profitability and profit MGT 554: International Business and Law Silvio Napoli at Schindler India (A) – A Case Analysis ____________________________________________________________ __________________ growth. Napoli’s plan called for Schindler India to sell 50 units in first year and to win 20% market share. The company has a strong pressure to reduce cost and limited pressure to adapt to the Indian market. It is recommended that for Silvio to succeed in the Indian market, he must immediately alter his plan and introduce elevator customizations. In the short term, his technical staff must be sent to the corporate headquarters for training on existing standardized elevator design, understand the technical specifications and explore possible customization options in the current range of elevators. In case if the existing team was still felt to be too inexperienced to handle this new range of elevators, then Silvio must also have options to bring in technically qualified personnel from the headquarters. For a long term strategy, it is recommended there are flexible technology transfer agreement between the Indian subsidiary and the corporate headquarters for multiple elevator product ranges that allows high degree of elevator customization. It is also highly recommended to set up a Greenfield manufacturing facility in the country to leverage on the cost and labor arbitrage, instead of extensively outsourcing and depending on external vendors for elevator assembly and spare parts. In addition to the problems faced in executing elevator orders due to elevator customization issues, Silvio also erred in formulating appropriate pricing strategy for India. His business plan did not consider important financial related factors like effect of Government policies on elevator industry, fluctuations in the currency exchange rate, effect of changes in the new transfer policy introduced by the corporate headquarters etc. As it is known, transfer pricing is determined various factors but primarily on profit earned by the subsidiary and also takes into account difference in the currency exchange READ: Changing Use Of Language EssayMGT 554: International Business and Law Silvio Napoli at Schindler India (A) – A Case Analysis By Satish Krishnamoorthy, Ramya Narayanaswamy, Karthik Chittatoor, Kamalendra Velendra ____________________________________________________________ __________________ rates. To handle the current pricing crisis, in the short term, it is recommended for Silvio to immediately negotiate with the corporate headquarters to revert back on the old transfer pricing method hat he had used to calculate pricing. For the long term, Silvio should enter into a mutual agreement with corporate headquarters that there will be no changes in transfer pricing methodology and changes in prices of essential imported elevator spare parts, without adequate prior intimation. Alternately, Silvio can also mutually agree on the transfer prices of some of the models transfer prices in his yearly budget and thereby shielding from sudden changes in the pricing.

Wednesday, November 20, 2019

Term paper english Example | Topics and Well Written Essays - 1500 words

English - Term Paper Example Characters allow us to transport ourselves into the life of another person, if only for a time, to experience things we never before felt possible. Two examples of this truth are William Faulkner’s ‘A Rose for Emily’ and Nathaniel Hawthorne’s ‘Young Goodman Brown’. Characters are critical to the effectiveness of these stories because they work to develop the plot, provide conflict, and create a protagonist or antagonist that the reader can empathize with. The Plot Faulkner revolutionized story telling with his unique way of organizing a book. ‘A Rose for Emily’ certainly demonstrates this by the way Faulkner divides the book into five distinct sections. In so doing, he is able to develop the main character (Emily) in a systematic manner. We begin by seeing Emily in the twilight of her life, after she died, and how nearly the entire town came to her funeral. By beginning at the ending point of the main character’s life, Faulk ner builds his plot around the entire life of the character. He continues this strategy by moving a second section of the story. Here, the author describes events in Emily’s life from 30 years previous to her death. We gain perspective into the tenacity of the character and her willingness to fight any inquiries into her life made by the townspeople. Faulkner is further developing the plot by enabling us to the private side of Emily and how this contributes to her overall persona. The plot thickens in sections 3 and 4 as Faulkner describes various events in his characters life. The picture is of a town that is deeply concerned about Emily and foreshadows her eventual death. The plot climaxes in the final section of story by continuing where the first section left off. Had Faulkner not included the middle three sections of the story, the reader would be left at a loss as to why Emily would have such a lasting legacy on the town. The final section describes the events after Emi ly’s death and builds on the plot until the end. This type of storytelling is ingenious because the plot is truly built around the main character. The reader can follow along as various events are told and events foreshadowed. Nathaniel Hawthorne developed his stories much differently than Faulkner, yet the characters in his stories remain central to the development of the plot as well. As Leibowtiz noted in one of his essays on Hawthorne, â€Å"Hawthorne utilized characters and ideas for his own artistic purposes† (120). One such example of this is the story ‘Young Goodman Brown’. As in most of Hawthorne’s books, this story has a religious underpinning to it. To get to the message, however, the reader is taken on a journey with Goodman Brown. Once again, Hawthorne is like Faulkner in that the story is developed around one main character. This gives Hawthorne a unique ability to really develop everything about a character. Here, the entire story rev olves around Goodman Brown. From the very beginning of the story, when Goodman Brown says goodbye to his wife and that he’ll be back in a day, the plot develops quickly as the main character sets off on a series of unexpected adventures. Through various meetings and recollections from Goodman Brown himself, the reader begins to understand the shame and heartache he feels towards many of his relationships and acquaintances in life. It is through these musings that the entire plot is based. The story is quite simple really: Is Goodman Brown going to return home to Faith or not?

Tuesday, November 19, 2019

OPM 300 MOD 1 CA Essay Example | Topics and Well Written Essays - 500 words

OPM 300 MOD 1 CA - Essay Example Hard Rock Cafe applies this by constantly modifying and improving the products and services that they offer. They have changed their menus from simple ones to more high-end items. They have likewise added a new emphasis on live music and even maintain a popular website and a weekly cable television program on VH-1. Next, quality is constantly and strictly managed by Hard Rock as they do surveys on a regular basis to evaluate the quality of food and service at the cafe. Hard Rock also understands that process and capacity design is crucial so that they make sure that they use the right equipment and technology in their branches all over the world. Next is location selection decision. Since Hard Rock is located at Orlando Universal Studios which is a traditional tourist destination, their cafe is flocked by tourists and locals alike and they never run out of customers. They were also able to strategize the layout of the place carefully to accommodate the needs of their customers. When it comes to human resources and job design, Hard Rock employees are chosen so that they are not only competent in their job skills but are also passionate about music and have engaging personalities. This makes it even more pleasant for customers to frequent Hard Rock.

Saturday, November 16, 2019

The Kent County Councils football Essay Example for Free

The Kent County Councils football Essay This project will be researching many different areas of football. I will begin at the grassroots level, which is primary school, local and junior leagues progressing through county, club and country. The areas included will be funding, incentive schemes, provision for different abilities etc. The local provision of football around my area with the help from my own experiences locally will be compared to the National set-up. Though they are two separate topics they will link together. Review of Literature  In my local area there is large mounts of youth leagues ranging from under 8s competitions upward, the grassroots football. The Kent messenger (KM) newspaper shows the variety of league and cup competition. Youth football in my area ranges from Maidstone Minor Leagues to the Kent League, North, Central and South. The KM and another resource, The Downswood Mail always have advertisements for players to join clubs, or managers that are needed for youth football. The Football Association (FA) consists of the professional and amateur game, with different branches off of it, for example, Kent Football Association. The FA gives you details about coaching schemes and initiatives available to young footballers hoping to progress in the game. The FA also gives details of semi-pro clubs like my club Lordswood who play in the Kent League up to the main, elite premiership clubs. These clubs are local and National clubs to me. Football is getting bigger all the time; a lot of money is pumped through this sport, one example is the à ¯Ã‚ ¿Ã‚ ½45 million pounds the FA is giving to grassroots facilities. Though a lot of this money is given and accumulated by the top clubs. Coaching courses are available around my area, such as Andy Fords Soccer School, also larger clubs issue advertisements for when they bring coaches to your area, e.g. Manchester United Coaching Course came to Maidstone, my area, three to four years ago. The Kent County Councils football section shows details of coaching courses available in Kent. SportsAid allocates awards usually between 250 and 500 to young sportspeople aged from approximately 12 -18 years (junior competitors) who have competed with distinction within their respective age group and achieved. This helps to promote sporting excellence and it gives them a better chance of succeeding. Locally there is the Sports and Play Team, which helps in many ways the progress of football in Maidstone. The Sports and Play team will be setting up Football in the Community with local professional and amateur football clubs in order to create more opportunities for young people to engage in positive activity after school and to develop the clubs. The Sports and Play Team are one of the partners in the Active Sports programme and are keen to work with local clubs. Voluntary Club Facility Hire Grant helps to provide the facilities needed to run training sessions and to have a good quality pitch for match days, ranging form hundreds to thousands of pounds and this scheme was also set up by the Sports and Play team. Gillingham Football Club, local pro team, runs many after school and holiday training camps with opportunities for the younger players to help their schools out. The players can win competitions for equipment and small grants for sport in their school.  Discussion  Football as a whole is a growing enterprise in England and around the world. TV money and worldwide football stars show a lot of money is in and around the sport. Local football around my area uses a lot of recreational ground and schools playing fields, so facilities for players are limited. More money needs to be spent on proper catering specifically for football. à ¯Ã‚ ¿Ã‚ ½45 million pounds from the FA is going to be invested in pitches and facilities over the next three years from the National Game Scheme. This does help, but it is not enough for national improvement in this sport. Local amateur football gives a good impression of football nationally; this means that more input in the sport is needed. More progress is being made with issues inside football than with actual provisions for the sport. Schemes such as Fair Play, Eliminating Racism From Football and Child Protection Best Practice do not help with local and national provision. These issues should be addressed but equally with factors like facilities and pitches. Maidstone runs a Youth Sport Action Group developing football with the help of coaches, teachers and members of the community. They organise Youth Sport Achievement Awards and the Sports Fair. Conclusion The FA seems to be the main contributor to grassroots all the way up to the national game. More money is needed for County Councils, such as my local county, Kent. I suggest that schemes to improve facilities for amateur clubs are needed to help bridge the gap between amateur and professional clubs because the breach is currently massive. Money will improve players capabilities because of the enhanced equipment, providing the top clubs with better quality players and the players with a better chance of reaching the top clubs. The more money the FA gives to councils and the Government, the more football will prosper and generate money. If local and national grassroots football improves, more money will be generated by itself, which then takes off all the pressure from the Government and the FA in the future. Appraisal There are lots of ways in which the study could be improved. Without a comprehensive study of another Borough or County its hard to tell if my local area equates in a similar way to another. Many figures that I have found only say what money is going to be put in; it would help to find where the money has been spent so far. Many coaching schemes and building enterprises are organised but the popularity and success is not always shown. My area really only has one professional club, Gillingham, regions in and around London for example will have many clubs reasonably close. This means my area is disadvantaged but I would like to find out whether these major clubs to make a big difference to local and national provision.

Thursday, November 14, 2019

The American Dream of Love and The Great Gatsby Essay -- The American

There is a special someone for everyone. Every man (or woman) hears this at least once in their life. They go through life searching for this special someone, sometimes destroying their own lives along the way. It can be a person 3000 miles away, or it can be the next door neighbor. In F. Scott Fitzgerald’s novel The Great Gatsby, Jay Gatsby has a second chance at the love of his life. As he stands next to the love of his life, Daisy Buchanan, the light across the lake that shines her house is now covered by the mist, sealing away his life’s darkness of being alone. However, there are just too many obstacles standing in the way of this relation ship which include Daisy’s child and husband and even possibly her obsession for money. As Gatsby’s fantasy comes closer to him, the chance of this dream becoming reality fades away. Jay Gatsby is in love with Daisy for five years. However, the war makes him go to fight, leaving Daisy behind. When he is leaving her, he promises to himself that he will come back to Daisy as an opulent man and win her heart. It is easily assumed that Jay never stops to think about her during the war, college, or at any other point in his life. Even five years later, when Daisy is already married, Jay reveals his obsession with her: "Look at this," said Gatsby quickly. "Here’s a lot of clippings -about you† (93). This quickly shows the reader that even though he was separated from Daisy by distance, he can never separate her from his heart. However, even if Daisy did truly love him, it could never be a realistic relationship as Gatsby finds out for himself. â€Å"Afterward he kept looking at the child with surprise. I don’t think he had ever really believed in its existence before† (117) is the first time that ... ...completely overwhelmed by Gatsby’s money because it makes her husband’s fortune look like nothing. From the looks of her expressions, it seems that money is her driving force to be with Gatsby even though she â€Å"put her arm through his abruptly† (93) suggesting some sort of a romantic interest. Gatsby has found the love of his life again. However, Daisy’s intentions have changed since the last he saw her. Not only is she married with a family, but her greed for money may also represent an obstacle. Jay thinks that he has finally dimmed the light that separates the two forever. However, Daisy clearly has other plans. Jay’s lack of ability to see past the beautiful smile of Daisy just may lead to the greatest disappointment of his life. Works Cited Fitzgerald, F. Scott. The Great Gatsby. Ed. Matthew J. Bruccoli. Toronto: Simon & Schuster Inc, 1995. Print.

Monday, November 11, 2019

Videogames vs Boardgames

Now a days, if you ask any children, teenagers, and even young adults about what they prefer between videogames and board games, about ninety-two percent will answer videogames without hesitation. I definitively belong to the majority of teenagers who will prefer a videogame over a board game. But if you ask me what I really believe is best option for your children, Ill have no other choice but to answer board games. It seems that very quickly board games are becoming a thing of the past. More and more parents are choosing to purchase video games for their children instead of board games.Even the board games industries are trying to add some technological features to their games, hoping that it can make clients more interested in the product. What most of the parents don’t know, is the damage they are doing to their kids by buying them videogames. The consequences for using videogames are many, and even though they have some benefits of their own, for example they can help you focus by working with the left side of the brain (in case you are right handed), or with the right side if you are left handed. But even though, they are not worth the damage.And even if you think it is worth it, board games also provide you that benefit, without collateral damage. Another reason why you shouldn’t buy videogames to your children is because you are enforcing them to isolate from the rest of the society. Do you think staying home playing video games instead of exercising or spending healthy time with friends and family is good for your children? It is NOT good; it is only making them live in an inexistent world, where they look just the way they want. A world full of violence, an inappropriate stuff; because a fact is that 60% of middle school boys have at least one Mature-rated game.And actually I believe most of the parents know that video games are not good, but they still prefer to use the easy way to keep they’re children silent and entertained at the same time. Don’t you think this is enough proof? Well now I? ll tell you why board games are the perfect alternative. They make your children THINK; do things the hard way by themselves. Maybe they are not going to be as quiet as they were with video games, but it is just because they are not isolating themselves anymore, the board game is going to force them to communicate with other people; make them more sociable.Without mentioning that it is cheaper and easier to move to other places. So now think twice before you buy a new Wii, or a new Nintendo for your 9-year-old boy. Think of the long-term consequences, instead of what is easier for you. Is it worth to make a violent boy who learns from what he sees just because you were too lazy? It is not, remember parents are supposed to be the responsible adults who make the right decision to raise their children, not the ones that will buy their children anything just so they don’t bother you anymore.

Saturday, November 9, 2019

Evaluating a Website for Credibility Essay

A search for men’s health related website conducted using the public search engine Google.com. Men’s Health Network (MHN), http://www.menshealthnetwork.org, is a nonprofit organization reaching out to males and their families focusing on the growing health crisis that affect the premature mortality of men (Men’s Health Network, 2014). Approximately 50% of the population is male; evaluating the sites credibility is important when using it as an educational tool for male patients related to prevention and management of health. Evaluation of website MHN is comprised of spokespersons and advisory board. The website discloses a limited list of spokespersons with title and areas of educational focus. The site states, â€Å"†¦there are over 800 physicians, mental health experts, and other key thought leaders among the MHN Board of Advisors†¦Ã¢â‚¬  (Men’s Health Network, 2014). The readability of the website is not technical, the average person will be able to read the information on the site and be able to understand the intent of the organizations message. The information that is presented is accurate but referencing to studies and citations are lacking or difficult to find. Brief explanations of diseases are summarized followed by links to outside sources such as the American Urology Association, National Institute of Health, or Journal of Men’s Health for additional information. MHN is sponsored by monetary donations from the public as well as internships to promote education to the public and policy makers related to men’s health (Men’s Health Network, 2014). Partnerships are publicly display at the bottom of the website and range from for-profit drug companies such as Glaxo Smith Kline, Bayer and Pfizer as well as nonprofit organizations such as Boy Scouts of America and Veterans Health Council. Since the number of for-profit partnerships with MHN supersedes the  nonprofit partnerships, one can view the information provided on MHN as favoring the for profit companies despite MHN having links to outside sources for information on diseases. MHN website navigation is user friendly with headings at the top of the web pages that are identical on every page. The font utilized is clear, easy to read, and not strenuous on the eyes. All links in headings are operational and link phrases are clearly described to target page. MHN security link states commitment to ensuring user privacy and that any information collected is used only in accordance to the November 2012 policy (Men’s Health Network, 2014). MHN informs that the website will request permission to place â€Å"cookies† on user’s computer. The term â€Å"cookie† is defined and gives the user informed consent. MHN clearly states that clicking links to partnerships and outside sources link takes the user away from MHN site and states, â€Å"we cannot be responsible for the protection and privacy of any information which you provide whilst visiting such sites and such sites are not governed by this privacy statement.† (Men’s Health Network, 2014). Empirical evidence Building credibility for a website requires providing links to reputable organizations which increase traffic, thereby increasing its relevance in search outcomes (Calabro, 2010). MHN achieves this with a banner containing links to other organizations for the reader to get additional information, but the sites that the reader is linked to do not always reciprocate a link back. Calabro (2010) suggests that updating the home page regularly with updated graphics, information, and testimonials are vital to enhancing the websites presence on the internet. MHN, compared to www.nih.org which publicly displays the sites last revision, information contained on the site doesn’t display last revision although there is updating to the site by evidence of seminar announcements, online flyers, and press releases. In a study of 1,442 acute care nurses employed in one large hospital system with readily available library sources, 43% reported starting a search with Google. Of that group 64% reported success in obtaining results using a general search engine such as Google. While 49% started a search using CINAHL or MEDLINE, a much smaller percentage reported successful searching (20% and 24% respectively) of these professional databases. (Miller, Graves, Jones, & Sievert, 2010, p. 3) Not having a subscription to CINAHL or  MEDLINE, according to (Miller et al., 2010), should not hinder knowledgeable nurses in using public search engines for credible information as a tool to educate patients and families. Application to nursing practice Evaluating information found on the internet is important to properly educate patients as MHN provides educational material for men, boys, women and families. The professional nurse can utilize the site resources to aide families to cope with ailments that affect their male loved ones. Nurses can resource MHN to provide information to families to co-pay card programs to curb the high cost of health insurance. Summary MHN demonstrates credibility by the use of expert advising board and links to creditable organizations which have done studies to support their mission. The site is easy to find on public search engines, easy to read for the lay person while giving links to more detailed information for the healthcare professional. References Calabro A 2010 Endhave your presensce on the internet with an improved website.Calabro, A. (2010). Enhance your presence on the internet with an improved website. O&P Business News, 19(12), 18. 201409201149291993026019 Mens Health NetworkMen’s Health Network. (n.d.). Retrieved September 15, 2014, from http://www.menshealthnetwork.org 201409161816071882827044 Miller L C Graves R S Jones B B Sievert M C 2010 Beyond Google: Finding and evaluating web-based information for community-based nursing practice.Miller, L. C., Graves, R. S., Jones, B. B., & Sievert, M. C. (2010). Beyond Google: Finding and evaluating web-based information for community-based nursing practice. International Journal of Nursing Education Scholarship, 7(1), 1-16. doi:10.2202/1548-923X.1961 201409201214161550333619

Thursday, November 7, 2019

A Guide to Using MLA Citations

A Guide to Using MLA Citations A Guide to Using MLA Citations MLA referencing is common in the humanities. And if you are studying on a literature or language-based course, you may need to use MLA citations in your written work. To help you get this right, then, we have prepared a guide to using MLA citations in an essay. This will cover basic citations, citing multiple authors, and other tricky situations. 1. Basic MLA Citations Basic MLA citations use an author surname and a page number in brackets. Typically, you would give this before end punctuation: Bad news travels fast (Hawkins 201). Here, for example, the citation points to page 201 of a source by Hawkins. You would then give the full source details in the list. The main variation on this format occurs when you name an author in the text: Hawkins claims that bad news â€Å"travels fast† (201). As shown here, when the author’s name appears in the text, there is no need to repeat it in the citation. Instead, just give the page number after the quote. 2. Citing Sources with Multiple Authors When a source has two authors, name both in the in-text citation, using â€Å"and† as a connector (not the ampersand symbol): The exact speed of bad news is a mystery (Ptaszynski and Schreiber 14). Here, for example, we’re citing page 14 of a text by Ptaszynski and Schreiber. However, for sources with three or more authors, you should use the first name plus â€Å"et al.† in citations: Harkin et al. argue that good news is equally fast (101). â€Å"Et al.† here means â€Å"and others,† showing the reader you have left some names out. The same rule applies if a source has three or more editors or translators in the list. 3. Citing More than One Author with the Same Surname To cite more than one author with the same surname, you will need to adapt your citations. In MLA referencing, this means giving a first initial: News moves slower in water (A. Smith 32) than in air, but it moves much faster in a vacuum (Z. Smith 412-414). In the list, however, you should give the authors’ full first names and surnames as usual. 4. Citing Multiple Works by the Same Author Rather than using a year of publication to distinguish between citations of sources by the same author, MLA referencing uses the source title in place of the author’s name. For example, imagine that an author called Hawkins had written both a book called A History of Bad News and an article called â€Å"The Pace of News: A Comparative Study of Communicative Speed.† To cite both in the same document, we would need to include their titles in the citations: Bad news travels fast (Hawkins, A History of Bad News 201). Its speed seems to be increasing, too (Hawkins, â€Å"The Pace of News† 1136). We can learn two things about using titles in MLA citations from the examples above. In particular, you should always: Format titles according to the source type (e.g., italics for books and quote marks for shorter pieces such as articles). Shorten long titles (e.g., changing â€Å"The Pace of News: A Comparative Study of Communicative Speed† to just â€Å"The Pace of News†). In the list, meanwhile, you should organize sources by the same author alphabetically by title. In addition, use three hyphens in place of the author’s name for each entry after the first: Hawkins, Justin. A History of Bad News. London, PME Publications, 2007. . â€Å"The Pace of News: A Comparative Study of Communicative Speed.† The Journal of Alternative Telecommunications, vol. 9, no. 3, 2015, pp. 1124-1139. 5. Citing More than One Source at Once Finally, to cite more than one source in the same place, separate each citation with a semicolon. For example: Bad news moves faster than light (Hawkins 198; Smith 22). Here, we’re citing both Hawkins and Smith to support one same point. This can be useful for showing that many people share an idea or theory.

Monday, November 4, 2019

Response Paper Essay Example | Topics and Well Written Essays - 500 words

Response Paper - Essay Example The novel played on emotions of horror, awe and trepidation in order to elicit strong emotions particularly against the scientific rationalization of nature. Indeed, Frankenstein, is often considered as a work that initiated the dark visions of the cruelty and barbarity of the scientific endeavors by megalomaniacs wishing to control the world rather than as a tool for the spread of Enlightenment ideas. The setting and time further highlighted the Romantic character of the Frankenstein. The story happened in the eighteenth century, a time wherein political, social and scientific norms required resistance. In addition, the setting: the Swiss Alps and the cold regions of England and Scotland serve to tell us that these desolate places are where the monsters are appropriately exiled. It also underscored the sublime and untamed character of nature, which, for its part, highlighted the scientific atrocities committed by humans against it. Through the setting, there was an interfusion of elemental contraries that better demonstrate Shelley’s objectives. One of the most important themes that I found in the novel is that of the concept of monstrosity. Although Frankenstein is the most obvious example of what a monster is, he was in fact less of a monster than his creator. His hideousness hides a compassionate creature and his lack of companionship deeply troubled him. This was summed up in the line: â€Å"I, the miserable and the abandoned, am an abortion, to be spurned at, and kicked, and trampled on.† (Shelley, p. 188) Victor, his creator, on the other hand, displays a more intense monstrosity in his ambition, secrecy and selfishness, which led him to murder members of his own family. It is, however, unnoticeable because such monstrosity is hidden in his humanity. These two characters served two represent varying concepts that permeate in the literary world.

Saturday, November 2, 2019

Social net working in the uk Essay Example | Topics and Well Written Essays - 1500 words

Social net working in the uk - Essay Example This paper seeks to discuss social net working in the UK. Individual in United Kingdom use BBC Suffolk website to interact with other people where they use it alongside a traditional output known as BBC Radio. In most cases, communication among the youth is done through social networking which has made the means of communication cheaper compared with other means. Since the use of social networking websites is a valuable mode of communication globally, groups, feeds and other contents are being used by BBC Suffolk and its programmes. For one to view BBC Suffolk groups one must be a member of facebook and BBC Suffolk so that he or she can interact with others in different social networking. Facebook has more than 150 million users around the world. The use of social networking like facebook gives an individual a chance to communicate with friends from each corner of the world1. Additionally, peer counseling and sharing of related problems are posted in the site where peers can help one another to solve the problems facing them. Individuals who are members of facebook can as well join groups dedicated to musicians where one can view the recent released albums or campaigns which are being held or to be started. This is a social networking site that is mainly used by the UK young people since it is associated with music and especially the one that is current in the market. The musicians use the site to post their current album released and this help them to market them and advertise their music globally. BBC Suffolk is a site that is used by those who want to support the musicians around the United Kingdom where any kind of support is given. Update of what one is doing is posted in the Twitter where the numbers of characters are limited to 140 which are then linked to other sites which make it interesting. Videos can also be linked in the Twitter handle which can be posted and later friends will view them making it possible to communicate

Thursday, October 31, 2019

Mobile Device Security Policies Research Paper Example | Topics and Well Written Essays - 500 words

Mobile Device Security Policies - Research Paper Example It mitigates any other forms of software and device abuse such as use of pornographic materials. The policies and restrictions apply to all the users in a specified area which is covered with such a policy. This is to protect usage of network. The policies are enforced on anyone who uses the devices, and there are penalties for noncompliance which include civil or criminal litigation, restitutions and fines (Long and Long, p 91). The policies that might be proposed to protect mobile devices may include, but does not narrow to the following; There must be a password to protect every device (Negri, p63). This is to limit its use to unauthorized persons. It should be a strong password, for example, eight characters in length. Another policy is ensuring physical security of the devices. This is to be ensured by the owners and any other authorized user and ensure the devices are always kept in a secure place (Bott, p 85). Another policy on mobile devices is that all sensitive and confidential documents stored should be encrypted to ensure security (Henten, p 13). It also ensures data is removed in case the device is to be disposed. Mobile device options that are not in use should be disabled to ensure there are no breaches on any information. Screen locking and screen timeout should be implemented as a security policy. Mobile devices should be scanned for viruses this to protect deletion of files by the virus (Ca lhoun, p 62). Software restrictions policies are part of Microsoft security and management to help their customers to make their devices more reliable and manageable (May, p 32). The restrictions ensure that viruses are fought using the best ways possible to avoid loss of data. The company also restricts which activeX controls can be downloaded. This is to ensure their users use only the recommended software (Panchal and Sabharwal, p 42). The company also insists on using scripts which are digitally signed. This reduces the

Tuesday, October 29, 2019

Business - Smucker's Case Assignment Example | Topics and Well Written Essays - 1500 words

Business - Smucker's Case - Assignment Example It expanded itself beyond jams and jellies so that it can shield itself from becoming an acquisition of any of the larger firm. The company has been successful at expanding its operations, enhancing its sales and revenues by greater margins and increasing the price of the stock (Gamble, J. E., â€Å"Smucker’s in 2011: Expanding the Business Lineup†). The products of J. M. Smucker Company helped it to achieve its long-term goals. The company’s brand demonstrates strategic fit in the sense that all its brands are performing quite well. Smucker’s expected its net sales to augment by 6 percent annually by increasing the sales growth to 2-3 percent resulting from future acquisitions, and increase in sales by 1 percent from the introduction of the new product. It is identified that in the year 2010, the company was capable of becoming the market leader in 11 of its food categories such as fruit spreads as well as dessert toppings, roasted and ground coffee, heal th and natural beverages, peanut butter, cooking oil and condensed and evaporated milk. It can be stated that it is feasible for the company to expand its operations beyond its core competencies in order to fight the competition that it confronts from its rivals. This will help the company to generate high sales and revenues, along with that it will also assist the company to increase substantial market share. Question Two One of the factors impacting the successful operations of Smucker’s is taxation. Changes in the tax rates and laws have a significant influence upon the company. Competition is the other macro environmental factor which hampers the sales and profitability of the company. Nestle and Kraft Foods are the main competitors of the Smucker’s in United States. Economic slowdown and recession in the USA has an impact upon the operations of the firm. It is observed that the first three months of the year 2011 seemed to be promising despite the persistent impac ts of economic downturn in the United States. The revenues of the company were same for the period i.e. first three months in the fiscal year 2010. However, there was rise in the operating income by 5 percent in the first quarter from $185 million of the year 2010 to $195 million in the very first quarter of the year 2011. When the USA faces with the issues related to currency and interest rates fluctuations, the companies like Smucker’s may have to face significant problems since these companies have its branches in many of the foreign nations. There has been change in the consumption pattern of the people of the USA during the period of recession and as a result the organization had to focus upon the budget cuts and concentrate more upon the home made meals rather than readymade meal as sold by Smucker’s. Sudden change in the consumption habit has a significant impact upon the company. Therefore, it is quite significant for the company to take certain initiatives so that it can minimize the negative impacts of such threats and help in the enhancement of the sales and revenues of the company. If such issues are not paid due attention, then the company’s profitability will be hampered to a great extent. Question Three There are many subsectors of processed food industry and each subsector has different growth expectations, competitive intensity, profit margins and business risks. The industry can be identified as attractive in the

Sunday, October 27, 2019

Research On Initial Public Offering And Underpricing Finance Essay

Research On Initial Public Offering And Underpricing Finance Essay Initial Public Offering (IPO) of firm is widely underpriced. IPO underpricing is presented as the percentage difference between the offer price and the closing price of the first-trading-day, usually in appearance of initial positive return when shares are newly issued. IPO underpricing is seen as selling shares at discount in the initial offering. The discount requires issuer to leave money on the table to compensate investors, which incur wealth loss for the issuer (Camp, Comer and How, 2006). Therefore, there are numerous theories established to explain the reason for this discount sale in IPO, which generally categorized into four branches: asymmetric information, institutional reasons, control considerations, and behavioral approaches (Ljungqvist, 2007). Among these theories, asymmetric information theory is the most studied direction in the past 40 years. Nevertheless, studies on the institutional and behavioral aspects are heating recently, especially when shedding lights on e merging IPO markets where lack of efficient institutional support and exist over-speculation behavior environment. Evidence of underpricing IPO underpricing phenomenon is firstly academic documented in 1970s (Stoll and Curley, 1970; Reilly, 1973; Logue, 1973; Ibbotson, 1975). Early findings (exclusively focused on US market) indicate that underpricing is influenced by particular periods (Ibboston and Jaffe, 1975) and particular industry, usually natural resource (oil and gas) industry (Ritter, 1984). However, these findings are challenged by Smith (1986) who claimed that underpricing occurs in the entire period of 1960s-1980s, rather than concentrates in particular periods, and underpricing level exists across all industries with average exceeds 15%. Recent study is more convincible with larger time period and sample observations. Loughran and Ritter (2004) document this underpricing discount has averaged around 19% in the US since the 1960s. Nevertheless, underpricing level (i.e. the average first-day return) tends to fluctuate, 21% in the 1960s, 12% in the 1970s, 16% in the 1980s, 15% in 1990-1998 and then exploded to more than 65% in the 1999-2000 internet bubble period, and falling back to 12% in 2001-2008 (reference). Table Empirical studies have extended the scope of research from the US to the whole world. Underpricing is internationally documented, and the level is extremely high in emerging markets. According to (reference)s research, China (1990-1996, 226, 388%); US (1960-1996, 13308, 15.8%); Japan (1970-1996, 975, 24%). Table. (Reference) provides wider research. France: 3-14%; Australia: 11-30%; Taiwan: 30-47%; Greece: 48-64%; Brazil: 74-78.5%; China: 127-950%. Table Due to its short history with strong government control characteristics, Chinese IPO market draws research interest. The average initial return of IPOs in China during 1999-2002 was 3.3 times the average emerging markets initial return (excluding China) and 6.9 times that of developed countries (Reference). Sample size Sample period Initial return (%) Mok and Hui (1998) 87 1990-1993 289.20% Datar and Mao (1998) 226 1990-1996 388.00% Su and Fleisher (1999) 308 1990-1995 948.59% Chen et al. (2000) 277 1992-1995 350.47% Liu and Li (2000) 781 1991-1999 139.40% Chi and Padgett (2002) 668 1996-2000 129.16% Su (2003) 587 1994- 1999 119.38% Chan et al. (2003) 570 1993-1998 175.40% Chan et al. (2003) 286 1999-2000 104.70% Wang (2005) 747 1994-1999 271.90% Kimbro (2005) 691 1995-2002 132.00% Li (2006) 314 1999-2001 134.62% Asymmetric information theory The cornerstone of this theory is that there is asymmetric information among parties (issuer, underwriter, and investor) in the IPO. Chambers and Dimson (2009) proved that the level of trust between investors, issuers, and underwriters plays a crucial role on the level of IPO underpricing over time in the UK. Asymmetric information leads to ex ante uncertainty among parties. Higher ex ante uncertainty results in higher underpricing. Ritter (1984) raised the changing risk composition hypothesis, which assumes that riskier IPOs will be underpriced by more than less-risky IPOs. Beatty and Ritter (1986) then extend Rock (1986)s asymmetric information model (winners curse) by introducing the ex ante uncertainty about an IPOs market clearing price. The ex ante uncertainty among investors over the value of firm determines the underpricing level of the IPO (Loughran and Ritter, 2004). The level of underpricing increases with the degree of ex ante uncertainty about the value of the firm (Beat ty and Ritter, 1986; Ljungqvist, 2007). Firms with more uncertainty about growth opportunities have higher levels of underpricing than other firms on average (Ritter, 1984; Beatty and Zajac, 1994; Welbourne and Cyr, 1999). Under the scope of asymmetric information theory, there are three models: winners curse, principal-agent and signaling. Winners curse assumes informed investors have better information. Principal-agent model argues underwriters gain better information. Signaling model emphasizes on the better information retained by issuers. Winners curse model is based on asymmetric information between informed and uninformed investors (Rock, 1986). This model assumes informed investors have better information about the new firms prospects than the issuer and its underwriters. Uninformed investors would only get unattractive IPO firms shares because informed investors have already picked up attractive firms share with better information. That is to say, uniformed investors would only expect negative return. Consequently, uniformed investors are willing to participate only if new-issue offer prices are low enough to compensate them for expected losses on less attractive issues (Rock, 1986; Ritter and Welch, 2002). Under this assumption, issuers or underwriters have to underprice their IPO shares, i.e. selling with discount, to attract these uninformed investors. Underpricing is seen as compensation to uninformed investors (Beatty and Ritter, 1986). Underwriters have the intention to underprice the IPO shares in order to keep the uninformed investors stay in the market to make offering successful. Underwriter could use underpricing to obtain full subscription in order to make the shares offering successfully. Moreover, Loughran and Ritter (2002) argue that winners curse is not the dominate explanation in IPO underpricing now. Winners curse problem and dynamic information acquisition were main explanations in 1980s in US IPO market. In 1990s US, analyst coverage and side payments to CEOs and venture capitalists (spinning hypothesis) are main reasons (ibid). Welch (1992) claims that underpricing is caused by the cascades effect in the IPO market. This Cascades effect is presented as the asymmetric information between informed and uninformed investors. Underpricing generates information momentum, which results in a higher market clearing price at the end of the lockup period (the time between share-offer day and listed day) when insiders (first buyers) typically start to sell some of their shares. These first buyers behavior would influence the following buyers perception on value of shares. Since there is selling pressure when IPO ends and the analyst coverage starts, the market price could still maintain at a high level in the first-trading-day, thus incur significant underpricing level (Bradley et al. 2003; Ofek and Richardson, 2003; Bradley, Jordan, Roten, and Yi, 2001; Brav and Gompers, 2003; Field and Hanka, 2001). Principal-agent model focuses on asymmetric information between underwriters and issuers (Baron and Holmstrom, 1980; Baron, 1982). Baron (1982) assumes that underwriter is better informed about demand conditions than the issuer, leading to a principal-agent problem. In this model, the function and role of underwriters are mainly studied. Underwriters want to underprice IPOs (Baron and Holmstrom, 1980; Baron, 1982; Loughran and Ritter, 2002/2004; Ljungqvist and Wilhelm, 2003). First of all, underwriter has to underprice in order to sell all shares, i.e. underwriters use underpricing to obtain full subscription in order to make IPO successfully. There are uninformed investors who have the money to invest in the market. Underwriters convince issuers into underpricing to prevent these uninformed investors from leaving the IPO market. Underpricing is to induce underwriters to put forth the correct level of effort (Baron, 1982). Underwriter has to balance this trade-off in the principal-ag ent problem. On one side, underpricing would incur wealth loss for the issuer and reduce commission revenue for underwriters, on the other side, Beatty and Ritter (1986) argue that as repeat players, underwriters have an incentive to ensure that new issues are underpriced by enough lest they lose underwriting commissions (especially for those uninformed investors) in the future. Empirical studies (Nanda and Yun, 1997; Dundar, 2000) claim that underwriters subsequently lose IPO market share if they either underprice or overprice too much. However, the principal-agent model is challenged by Muscarella and Vetsuypens (1989), who argue that underpricing phenomenon still exists in underwriter (investment bank) IPO itself in which there is no principal-agent problem. Second, underpricing could incur over-subsucription in an IPO, which gives underwriter the discretion to allocate IPO shares. Underwriters can decide to whom to allocate shares if there is excess demand. In this case, underwriters discretion acts like interest exchange with their clients. They want to retain the buy-side clients, thus to allocate underpriced IPOs to them. Recurrent institutional investors would get the IPO shares and enjoy a positive initial return (Loughran and Ritter, 2002). Underwriters have an incentive to underprice IPOs if they receive commission business in return for leaving money on the table. Underpricing could facilitate the loyalty between underwriter and its clients, which could in turn facilitate underwriters sale of subsequent IPOs and seasoned offerings. For example, in the late 1990s IPOs were allocated to investors largely on the basis of the past and future commission business on the other trades (Reuter, 2004). Third, spinning effect induces underwriter to underpricing. The spinning explanation describe issuers are willing to hire underwriters with a history of underpricing because issuers receive side-payments. Spinning may be used by the underwriter to acquire IPO deals and influence IPO pricing, but it can also be used as part of a long-term business strategy with a given issuer to attract future underwriter mandates. The side-payments of spinning makes issuers reluctant to change its original underwriter for subsequent offerings (Dundar, 2000; Krigman, Shaw and Womack, 2001; Burch, Nanda and Warther, 2005; Ljungqvist, Marston and Wilhelm, 2006/2009). Spinning effect was first documented by Siconolfi (1997) in a Wall Street Journal article. Specifically, underwriters set up personal brokerage accounts for venture capitalists and the executives of issuing firms in order to allocate hot IPOs to them (Siconolfi, 1997). The hot IPOs means shares those are underpriced and would gain a huge po sitive initial return aftermarket, which would increase the personal wealth of the managers of issuing firms (Loughran and Ritter, 2002). The use of hot IPOs to reward issuers created an incentive for issuers to seek out underwriters who willing to offer this hot IPO through underpricing, rather than to avoid such underwriters. Allocating hot IPOs to the issuers and their friends (through friends and family accounts) allowed underwriters to underprice even more, i.e. selling at a friendly price (larger discount) (Fulghieri and Spiegel, 1993; Loughran and Ritter, 2002; Ljungqvist and Wilhelm, 2003). Underwriters may be more inclined to give favorable allocations of shares to preferred investors (friends, family, executives, etc.) and unfavorable allocations to non-favored non-connected investors. The latter would require higher underpricing to participate in the IPO market. The outcome of this process is not due to ex ante uncertainty, but due to discretionary allocation of shares by underwriters. Furthermore, this discretion is not mitigated by strong institutional framework. During the late 1990s and early 2000, spinning was a widespread practice in the US, despite having one of the strongest investor protection rules at the same time (Liu and Ritter, 2009). Signaling model, first referred by Leland and Pyle in 1977, assumes the issuer itself best knows its prospects (possesses better information). Underpricing is a signal that the firm is good (Allen and Faulhaber, 1989; Grinblatt and Hwang, 1989; Welch, 1989). If the issuer possesses the best information about its true value, a high quality firm could use underpricing as a means to distinguish itself from low quality companies. These firms with the most favorable prospects find it optimal to signal their type by underpricing their initial issue of shares, and investors know that only the best firms can recoup the cost of this signal from subsequent issues. In short, a partial offering of shares is made initially, information is then revealed, and subsequently more shares will be sold. In contrast, low quality companies might tend to price fully (Bergstrom, Nilsson and Wahlberg, 2006). Hiring reputable underwriter with influential analysts would mitigate ex ante uncertainty, thus reduce the underpricing level. Empirical study shows the more market power of underwriter (with strong analyst team, influential and bullish, usually), the more underpricing extent (Hoberg, 2007). Hiring a prestigious underwriter (Booth and Smith, 1986; Carter and Manaster, 1990; Michaely and Shaw, 1994) or a reputable auditor (Titman and Trueman, 1986) is seen as a specific way to reduce the ex ante uncertainty. Carter and Manaster (1990) and Carter et al. (1998) argue that IPOs taken by prestigious underwriters benefit from superior certification. The choice of underwriter indicates the quality of this IPO implicitly, because the reputation of underwriter may provides certain guarantee on the value of the issuer, which in turn, mitigates the ex ante uncertainty, thus the underpricing level would be reduced. Nevertheless, empirical evidences show a mixed result. There is a negative relati on between underwriter prestige and underpricing level in the 1980s, but a positive relation in the 1990s (Beatty and Welch, 1996; Cooney, Singh, Carter, and Dark, 2001). Issuers want to hire reputable underwriters who have, not only because of this could reduce ex ante uncertainty, but also the influential and bullish analyst coverage provided by reputable underwriters (Dunbar, 2000; Clarke, Dunbar and Kahle, 2001; Krigman, Shaw and Womack, 2001). Analyst coverage is crucial on the discovery of true value of the firm, especially its impact on sequent shares offering. Ljungqvist, Jenkinson and Wilhelm (2003) prove that influential analyst could bring the businesses for underwriters (investment banks). Prestigious investment banks also tend to recruit analysts who making optimistic forecasts (Hong and Kubik, 2003). Although analyst coverage is expensive for underwriters (the largest US investment banks each spent close to $1 billion per year on equity research in 2000, for example) (Rynecki, 2002), these costs are covered partly by underwriting fee charging from issuers. Due to the information production cost, many firms would prefer later IPO. Firms d o IPO firstly could incur analyst coverage advantage (more information revelation) for other firms wanting for IPO in the same industry (i.e. free ride effect). In this case, underwriter compensate this information cost for the before Firms with underpricing to investors (Benveniste, Busaba, and Wilhelm, 2002; Benveniste et al., 2003). Moreover, issuers feel reluctant to change its underwriter for seasoned equity offering (SEO) if the underwriter did analyst coverage and the underprice effect is significant in the IPO. Cliff and Denis (2004) proved this with the example 1050 US IPO firms during 1993-2000. When initial offering shares, the issuer increases emphasis on the advertisement effect brought by analyst coverage from underwriter, rather than the level of underpricing itself. Empirical studies (Cliff and Denis, 2004; Dunbar, 2000; Clarke et al. 2007) illustrates that many US issuers accepted underpricing in 1990s since they focused more on choosing an underwriter with an influential analyst than on getting a high offer price. The underlying principal is that underpricing could attract investors attention to this firm. Issuers have the incentive to reduce underpricing, and model their optimal behavior. Firms could gain advertisement benefits from underpricing, which creates beneficial condition for sequent offering (Habib and Ljungqvist, 2001). A high quality firm is underpriced (sell shares at discount) at the initial offering in order to attract market attention through following analyst coverage, usually, massive and efficient analyst coverage would mitigate the asymmetric inf ormation among investors and present the high quality of the firm, finally, the more realization on the true value of the firm among investors could help the firm sell its sequent seasoned offering shares at a higher price (i.e. recoup the loss from the underpricing in the initial offering). This process is called partial adjustment phenomenon (Hanley, 1993). About one-third of all IPO issuers between 1977 and 1982 had reissued equity by 1986, the typical amount being at least three times the initial offering (Welch, 1989). Analyst coverage relates to the future predicted value of the issuer, thus it is important. Moreover, the development of internet and cable television extend the influence of analyst coverage on the share price. In this way, the share price aftermarket would increase, which further provides the opportunity for issuer to offer higher price for its seasoned offering. Behavior Finance Speculative bubble theory After the internet bubble collapse in the US in early 2000, the academic focus transferred to behavior finance. The asymmetric information theory is based on the efficient market hypothesis. The ex ante uncertainty leads to the difficulty on firm valuation for investors, therefore, issuer and underwriter would set higher underpricing level to attract investors. Underpricing is seen as deliberate selling strategy for an IPO, once listed in the secondary market, share price would return to its fair value. Asymmetric information theory predicts lower underpricing if information is distributed more homogeneously across investors (Michaely and Shaw, 1994). However, it is challenged by heterogeneous expectation hypothesis in the stock market (Miller, 1977), which argues this deliberated underpricing strategy of IPO (selling at discount) disrupts the market efficiency (Loughran et al., 1994). According to Miller (1977), there are two assumptions in the market: the heterogeneity expectation and restriction on short-selling. The optimistic investors buy and hold shares, whereas pessimistic investors can not participate in the trade since the short selling is restricted. Consequently, share price reflects the opinion from optimistic investors, and thus the share price is overvalued compared to its fair value. Aggarwal and Rivoli (1990) raised the speculative bubble theory to argue that IPO underpricing is caused by faddish behavior on behalf of investors. This theory reveals there is speculative environment in secondary market, which increases the market price of the first-trading-day, thus incurs severe underpricing phenomenon. The speculative bubble theory to Ibbotsons opinion that underpricing is cyclical, which could date back to 1970s. Ibbotson and Jaffe (1975) found the level of underpricing fluctuates between different time periods. One explanation for the fluctuation may be the fact that there are hot and cold IPO markets (Ibbotson et al., 2001). In a hot IPO market, the average level of underpricing is large and the amount of firms going public increases. Afterwards there is a high rate of firms going public, but the level of underpricing decreases. The following cold period starts with fewer firms going public and very low underpricing or even overpricing. There is strong empiri cal evidence for this recurrent pattern, but the existence of this pattern has not yet seen sufficiently explained theoretically (Ibbotson and Ritter, 1995). Aggarwal (2000) provides empirical evidence to prove there is positive relationship between underpricing level and market index. Faddish investor hypothesis claims that in the hot market, over-optimistic (irrational) investors overpriced the IPO. This means the high initial return of IPO is not caused by deliberate underpricing pre-IPO solely, but is overpriced by optimistic investors in the secondary market. On one side, large amount of irrational investor is the root of high initial return in IPO, because irrational investors determine the transaction price in the secondary market (Ljungqvist, Nanda and Singh, 2003). Ljungqvist and Nanda (2002) claim that personal investor is seen as irrational investor, whereas the issuer, underwriter and institutional investors are seen as rational investor. Ljungqvist and Wilhem (2003) proved that personal investors have over-optimistic expectation on stock return in the hot market and these personal investors are typical noisy traders in IPO market, who prefer to make investment decision in terms of past initial return of previous IPOs. Delong, et al. (1990) reveal the influence of noisy trader on the share price. These noisy traders in IPO market are typical positive market feedback traders. When recent initial returns are high in the IPO market, these investors would purchase new issues, thus these purchases increase the demand for following IPOs, thus raise the initial return for these following IPOs. On the other side, it is believed that inequality of demand and supply of IPO primary market causes or intensifies the speculative environment in the secondary market (Aggarwal, 2000). Inequality between demand and supply leads to speculative opportunity. The underlying reason for this inequality is that IPO mechanism is not market-oriented in some countries, which is controlled by government (China, for example) (Su, 2004). IPO supply in the primary market is not adequate because of the government control. When new issues are over-subscribed, the irrational investors (speculators), who are constrained in the primary market, would be released in the secondary market. Meanwhile, due to the restriction on short selling (in China, for instance), investors could only make money when price increases. Therefore, investors push up the price on the first-trading-day, which causes severe underprcing level. Legal framework theory Legal framework theory could explain the different underpricing level among different countries. Legal framework has significant impact on ex ante uncertainty in IPO market. Ex ante uncertainty caused by regulatory constrains, wealth redistribution, and market incompleteness, leads to the IPO underpricing phenomenon (Mauer and Senbet, 1992). Difference in legal frameworks of various countries explain the ex ante uncertainty degree and the decisions made by investors in the market (La Porta et al., 1997/1998/2002). Cross-country differences in the legal framework affect ownership structure (La Porta et al., 2002), ownership effectiveness (Heugens et al., 2009), capital structure (De Jong et al., 2008), asset structure (Claessens and Laeven, 2003), dividend policy (La Porta et al., 2000), corporate governance (La Porta et al., 2000; Mitton, 2002) and corporate valuation (La Porta et al., 2002). Legal frameworks deem to reduce uncertainty by creating a stable foundation in which subsequ ent human interactions can be grounded (North, 1994; Peng, 2009; Van Essen et al., 2009). First of all, legal framework affects issue firms value. Legal framework can influence the ex ante uncertainty about firm value in more or less the same way as ex ante firm-specific risk at the time of IPO. Firms operating in a legal environment with poor protection of intellectual property rights are unwilling to invest in intangible assets (Research and Development capability, or branding effect, for example), leading to lower firm growth and thus lower firm value. Second, legal framework affects investors decision. Stronger investor protection could reduce the investment risk (for example, lower asset volatility, lower systematic risk, lower stock volatility, higher risk-adjusted return as measured by the Sharpe and Treynor index) (Chung et al., 2007; Hail and Leuz, 2006; Chiou et al., 2010). In countries with weaker legal protection, investors will be more uncertain about realizing a return on their investment (Shleifer and Vishny, 1997). Lower levels of legal protection for investors will create more uncertainty with respect to post IPO strategies and managerial decisions that may negatively affect firm value (Claessens and Laeven, 2003). In a country with a weaker legal framework, managers or dominating shareholders have more opportunities to transfer profits or assets out of the firm at the expense of the minority shareholders. Weaker legal framework could provide opportunity for damaging firm value through transfer pricing, asset strippin g and investor dilution (Cheung et al., 2009; Berkman et al., 2009). This increased probability of ex post expropriation by management or dominating shareholders increases the ex ante uncertainty at the time of IPO (Johnson et al., 2000). The higher the expropriation risk, the more the offer needs to be underpriced to compensate for this ex ante uncertainty. There is conflicts between dominating shareholders and outside shareholders because outside shareholders require higher risk premiums (higher cost of capital) which caused by the weak legal framework (Himmelberg et al., 2004; Giannetti and Simonov, 2006; Albuquerue and Wang, 2008). Although it is argued that issuers can independently improve their level of minority investor protection by a listing on a foreign stock exchange with higher standards of investor protection (i.e. cross-listing), it is doubtful that they can fully compensate for the lack of an adequate legal framework at the country-level (Black, 2001; Reese and Weisb ach, 2002; Roosenboom and van Dijk, 2009). Third, Underpricing could avoid potential legal liability, which is another explanation theory provided by Tinic (1988). It is claimed that underpricing reduces both the probability of lawsuits if subsequently the firm does not do well in the aftermarket, because the investor is the direct recipient of the benefit from underpricing (Milgrom and Roberts, 1986; Tinic, 1988). Underwriters are unwilling to price these offerings at high level, in case that the market would concern about lawsuits and thus damage to its reputation if the shares eventually dropped in price aftermarket. The argument is based on that unsophisticated and uninformed investors were bidding up the price to unjustified levels, and the underwriters were unwilling to price the IPOs at the market price determined by these noise traders. Ownership control theory Ownership control theory is described as IPO is expected to bring in new shareholders, who would dilute the control power of original shareholders (managers), therefore, issuers have less motivation to bargain for higher offer price, and result in underpricing. Ljungqvist and Wilhelm (2003) explain this ownership fragmentation would incur underpricing through the realignment of incentives hypothesis. Logically, the issuer firms holding large proportion shares would have incentive to argue for higher offer price thus reduce the underpricing level (Barry, 1989; Habib and Ljungqvist, 2001; Bradley and Jordan, 2002; Ljungqvist and Wilhelm, 2003). Moreover, the excess demand for shares caused by underpricing enables managers to allocate small stakes of shares to many dispersed small investors. Therefore, original managers control power is strengthened since they would be the dominate shareholders. In other words, underpricing could give the managers power on control (Brennan and Franks, 1 997; Boulton et al., 2007). However, the ownership control theory is challenged. Other substitute mechanisms for retaining control such as takeover defenses, non-voting stocks and alike are more effective, because underpricing can not prevent outside investors from accumulating larger stakes of shares once trading begins in the aftermarket (Ljungqvist, 2007). Issue mechanism Fixed price Offer price = Predetermined price Bookbuilding Underwriter set the final offer price by consulting with investors Auction Offer price = lowest price which bid the final share Hybrid Bookbuilding + Fixed price; Auction + Fixed price Bookbuilding, by which underwriter has the discretion on share allocation, can induce investor to reveal their information through their indications of interest, which can reduce information asymmetry thus lower underpricing (Benveniste and Spindt, 1989; Benveniste and Wilhelm, 1990/1997; Sherman and Titman, 2002; Ritter and Welch, 2002; Gondat-Larralde and James, 2008). On one side, underwriters tend to allocate IPOs to investors who provide information about their demand (i.e. the price discovery process). Price discovery eliminates the winners curse problem, thus reduce underpricing level. On the other side, bookbuilding authorized underwriter the discretion on share allocation (so called rationing allocation). After collecting investors indications of interest, the underwriter allocates no (or only a few) shares to any investor who bid conservatively. This rationing share allocation could reduce the underpricing level. Koh and Walter (1989) found the likelihood of receiving an al location in this mechanism was negatively related to the degree of underpricing, and average initial returns fall substantially from 27% to 1% when adjusted for rationing allocation in Singapore case study. Levis (1990) and Keloharju (1993) claim Rationing share allocation mechanism could reduce the initial return in UK, and in Finland respectively. Aggarwal, Prabhala, and Puri (2002) also find that institutional investors earn greater returns on their IPO allocations than do retail investors largely in bookbuilding mechanism, because they are allocated more shares in those IPOs that are most likely to appreciate in price. However, imposing constraints on the underwriters allocation discretion can interfere with the efficiency of the bookbuilding. The quality of bookbuilding in many European and Asian countries is damaged by certain restriction on the use of bookbuilding, which leading to higher underpricing (Ljungqvist et al., 2003). Requiring that a certain fraction of the shares be allocated to retail investors, as is common in parts of Europe and Asia, reduces underwriters ability to target allocations at the most aggressive (institutional) bidders and so may force them to rely more on price than on allocations to reward truth-telling. Moreover, empirical study indicates that bookbuilding in countries outside the US only reduces the level of underpricing when used in combination with US investment banks (underwriter) and targeted at US investors. Although the functioning of the different issuing me