Marketing communication and consumer behaviour Essay

Marketing communication and consumer behaviour - Essay Example However, usually this communication flow is disturbed by the presence of noise or distractions. This results in failed communication. All marketing communications are carried out keeping a certain objective in mind. These objectives can range from informing the consumer about the product to persuading the consumer to buy the product. (Michael, Gary, Soren and Margrate, 20) Marketing communication has been used to establish social control in many different areas. It has been especially useful in influencing public opinion for religious and political campaigns. However, before embarking on a communications journey; the marketing mix must be in place for a product. The marketing mix consists of 4Ps, namely product, place, price and promotion. Product refers to the essential feature of the product including packaging, place refers to distribution and where the product will be available while promotion is the element concerned with marketing communications. For a company to excel, its promotional effort must be in coordination with the marketing. Therefore the advertising, personal selling, sales promotion and public relations must all convey the same message. As a child I was very fond of the movie E.T and the movie went on to become a super hit with audiences all over the world. Kraft foods utilized this opportunity to plan a three-sixty degree approach to marketing its products, teaming up with ET. E.T was featured on all Kraft Foods products across eight product categories, there were E.T related in package premiums in all Kraft foods, sweepstakes were conducted with prizes which included trips to Universal Studios, providing point of purchase stand alone displays to be used by retailers and developing of E.T related television advertisements linking E.T, the sweepstakes and Kraft Foods. Needless to say Kraft Foods became a favourite with E.T lovers all over the world. IMC however requires an understanding of the target audience, the use of a mix of promotional tools, coordination of all promotional tools and a carefully timed continuous flow of information. Companies which do not follow the IMC properly often end up confusing the consumer no end and this results in confused positioning of the brand. An example is of Burger King which insisted on using different taglines all the times which confused the consumer no end, thereby the fast-food joint had no clear positioning and gave no reason to the consumer to eat there. (Michael, Bruce and William, 28) Communications are concerned with products and brands. There is a significant difference between the two. In ancient times branding was known to be the act of burning a mark on the flesh of your sheep to claim ownership. A brand is a set of attributes both tangible and intangible that distinguish one product from another and create a distinct identity for a product. This is how people perceive the same milk with a different name, differently. Volvo and BMW are both essentially cars which have the same function. However to the consumer they are distinguished entities; while BMW is the drive machine, Volvo stands for safety and reliability. Also significant are the values and personality associated with a brand. Coca-Cola has values such as fun, music and friendship associated with it. While

Jeffrey Rosen Analysis Essay Example for Free

Jeffrey Rosen Analysis Essay In Jeffrey Rosen’s essay â€Å"The Naked Crowd†, he argues that people have a desire to prove and establish themselves as trustworthy in today’s society. Pressured by the public eye, many feel the need to convey personal details about themselves in order to gain this trust and feel more secure. Rosen critiques this idea, noting that if everyone exposes personal information, individuality is lost and anxiety about identity will remain. Rosen explains how individuals are constantly urged to market themselves to a world full of strangers via the Internet and its numerous social networking sites. They are expected to create a personal image that is seen as consistent and memorable. Many let out their thoughts and emotions hoping for a reassuring response from the audience. However, studies show that sharing too many personal details online may in fact have negative effects when it leads people to vent their feelings in a void, without the support of a receptive audience. Rosen also highlights how the Internet is creating an unbalanced relationship between liberty and security. He questions why people are more concerned with feeling connected than with the personal and social costs of exposure. Rosen discusses how â€Å"our conceptions of personal truthfulness has changed from sincerity to authenticity†(415). More and more people in today’s society have no problem disclosing intimate details to strangers. Some even create false images of themselves to appeal to others as trustworthy and intelligent. Rosen brings up the idea of â€Å"personal branding†, in which individuals present the best version of themselves in order to establish and maintain emotional connections with strangers. These personal branders thrive upon approval from the public, hoping to become more successful in their careers. Rosen states that amongst the chaos of everyone struggling to stand out as unique, personal branding ultimately leads to conformity. The most substantial binary opposition embedded in Rosen’s essay is the idea of privacy versus exposure. It is now common to share the most private of moments on the Web for people to consume. Not only has the Internet made it easier to reveal these personal details to a broad audience, it has unfortunately become more difficult to recover information that has already been posted. Once people decide to go public, there really is no turning back. Rosen expresses his concern with valuing exposure over privacy. Lionel Trilling of Harvard University feels that â€Å"there should be an honest correlation between what is exposed in public and what is felt in private†(Trilling 415). In other words, not everything we feel has to be shared. People have this inaccurate assumption that forcing an emotional connection with a stranger by sharing personal details will make us feel like we belong. However, exposing too much information about ourselves may lead to us feeling more alone and confused about our identity. In conclusion, individuals are too willing to give up their privacy in order to feel a sense of emotional connectedness. Our desire to gain trust from a crowd of strangers blinds us from the reality that exposing personal details has detrimental homogenizing effects. Works Cited Rosen, Jeffrey. The Naked Crowd: Reclaiming Security and Freedom in an Anxious Age. 2004. Print. Trilling, Lionel. Sincerity and Authenticity. Harvard University Press, 1972. Print.

The Good Mother †A Passive Life :: Good Mother

The Good Mother – A Passive Life  Ã‚   "We live in a world...where the decisive deed may invite the holocaust." --John Updike An interesting question that emerges while reading The Good Mother is: Why did Anna let it happen? Of course, this question must be included among many others, most of which elicit ambiguous answers: What really happened? Was there fault to be assigned? If so, who was at fault? What is a good mother? Can a woman be a good lover and a good mother? Where must sexual boundaries be drawn between children and couples in a household? Regardless of what it is, the answer to the question Why did Anna let it happen is that she was rendered almost powerless by her gender, class, and social and family background to do anything but let it happen. She spent her life letting things happen. Anna Dunlap, recently freed from a boring marriage and involved in a sexual awakening with an unconventional man, probably thought of herself as liberated in a very literal way before and during her affair with Leo Cutter. "I had a sense, a drunken irresponsible sense, of being about to begin my life, of moving beyond the claims of my own family, of Brian, into a passionate experiment, a claim on myself." (p. 10) As events played out, however, it became obvious that Anna had not escaped her history and that her "liberation" was just an illusion. Anna grew up in the shadow of her wealthy, domineering grandfather, her emotionally absent father and her cold, achievement-oriented mother. Her mother ran her life, pushing Anna to practice piano in the hopes she would become a professional musician one day. Anna was learning that she was not in control of her life; she was forced to let life (through her mother's ambitions for her) happen to her. When she visited her grandparents' summer home in Maine, Anna witnessed her grandfather's overwhelming dominance and saw her grandmother, mother and aunts engaged in interesting but meaningless (in Anna's view) "women's" conversations. When Anna was fourteen, her mother, realizing Anna was not a musical genius, loosened her grip on her daughter and, in fact, ceased to praise her for anything. As Anna's body changed and she became attractive to boys, she tried to define herself through sex, which she found empty and unsatisfying. Once again, Anna was not in control; she let it happen.

CHAPTER 1 : THE PROBLEM AND ITS BACKGROUND Essay

CHAPTER 1 : THE PROBLEM AND ITS BACKGROUND INTRODUCTION Not all people are given the chance to have a quality education especially in the Philippines because it is now complicated. That’s why having the chance to study and choosing the course should not be compared to something like for an example buying a dress for a special occasion and when realization comes into your mind that you don’t want it, you’ll return it or maybe get your money back. No, this isn’t right, because in college life, you have to treat every second as an important detail of your life. You should not waste every moment in it. So choosing the course which you think fits your capabilities is very important. Studying a specific course in college is not only about paying the fees rather the most important things here are the time and effort spent. Money, time and effort are the most precious things in one’s life and once it is used or spent, it’s hard to gain again or worst you may never have it at all. So the time these are wasted for nothing, for sure the blame for this mistake will be felt truly. When looking at the profile of those students who are working and at the same time is studying, you would notice that they never dare wasting their time. For them, every second counts. Make an observation and you will find out that almost all of the working students are working too hard to finish their studies. For them, wasting their effort, time and money is such a big mistake. BACKGROUND OF THE STUDY Student jobs have become a sort of trend among students around the world, who want to work while they are studying. In short, the term that suits this trend is ‘Earn and Learn’ policy. Other reason why student jobs are popular among students is they help to cope up with the constant increase in tuition fees, and a way to afford further educations. The problem has been developed with the question as to how the corresponding workloads and required working hours of working students affect their academic performance at Polytechnic University of the Philippines. As a researcher, the main purpose of the study is to know the factors that affect the academic performance of working students. In addition, this paper aims to provide encouragement and motivation to all students especially those who are financially distressed to pursue and finish a college degree in order to be competitive in the future and be able to realize their goals and aspirations. It may also provide learning experiences and information to other students who are not working. In order to accomplish our objectives, we adopted several methodologies in obtaining data and information such as conducting surveys by providing questionnaires to our subjects, getting information in the internet and conducting interviews personally and honestly with our target subjects to get assurance that our data, information and values gathered were correct and accurate. IMPORTANCE OF THE STUDY These studies will be beneficial to the following: The Students. Because of this study, the students will be able to know the profile of the working students and they will realize the truth about what they are going through. By this process, the working students will serve as inspirations to their fellow students especially to those who are almost losing their hopes and eagerness to pursue their studies. The Mentors. This study also helps the teachers to be able to easily notice those students who were really dedicated to their studies and who were not wasting their time and money on their universities. These will also give them enough knowledge on what the working students are going through when they are studying while working. They also know those students who deserved to be given considerations. The Parents. By this study, the parents will be able to know the advantage of working while studying. And because of these, they will also realize the reason why working students are doing such, especially if their sons or daughters are one of those students who are already working or planning to have a job while studying. To the Future Researchers. This study will help them as guide in conducting their own research. STATEMENT OF THE PROBLEM The objective of studying this matter is to know the profile of the working students and the implication on the class standing. Specifically, they need to answer these following questions: 1. What was the working students are going through while they are studying and at the same time working? 2. What are the statuses of the working students when it comes to their grades and their participation in class? SCOPE AND LIMITATION OF THE STUDY This research is concerned on the profile of the working students based from their academic standing. This covers the engineering students of the Polytechnic University of the Philippines. The profile of the working students will be distinguished by the aid of the questionnaires prepared by the researcher. In this research we can clearly notice the academic standing of the working students definitely by the help of the surveys conducted by the researcher.

Healthy Eating

Bab 1: Dunia Melalui Deria Kita B6 D1 E1 Technological devices which are suitable for overcoming the limitations of sight and hearing Microphone Microphone make sound louder and clearer . We often use it when we giving informations at busy and noisy place Hearing Aids Hearing aids can be defined as any devices that amplify the acoustic signal to a degree that enable individuals with hearing loss to use their remaining hearing in a use ful and efficient manner Stethoscopes Helps doctors to detect lung, stomach and the soft heartbeats of patients .The listener can hear normal and abnormal respiratory, cardiac, pleural, arterial, venous, uterine, fetal, and intestinal sounds. Telescope To see far objects such as stars and planets. Besides that, it consists of two convex lenses ( eyepiece lens) Binoculars Provide stereoscopic vision of distant objects for seeing tiny object . A pair of identical telescope mounted side by beside in the same direction allowing the viewer to use both eyes w hen viewing distant objects. Ultrasound scanning device To scan and see the fetus a pregnant mother .Shaped like microphone is pressed against the area being scanned . It also send out very high frequency sound waves into the area being scanned. Technological Devices To Overcome Limitations Of Sight Microscope Instrument to magnify objects such as virus and cell . To see object that are too small to the naked eyes Magnify glass To magnify tiny objects appear larger than the original shaped. The convex lens use to produce magnified image of an object . It also called a hand lens in lab context . The limited magnifying power -10 to 15 timX-rays X-rays can also be used to detect the condition of certain organs or detect of bones. In medical X-rays . The X-rays penetrate the internal soft body tissues and form images on a film which can be examined by a radiologist Limitation of Sight & Hearing Introduction Humans have sight and hearing limitation. Without any devices, our sight and hea ring was limited. Limitations of sight can be overcome by using appropriate optical devices such as microscope, telescope . The range of frequency of hearing is 20Hz and 20000Hz.Hearing loss can occur at any age, but most often affects individuals that are between the ages of sixty –five . Following have been identified as causes for hearing loss, a built up of ear wax, hereditary and degenerations . Doctors have been able to attribute some forms of hearing loss to inner ear nerve damage that can be caused by overexposure to loud environments. Hearing limitations can be overcome by using appropriate hearing aids such as stethoscope ,megaphone, microphone ,earphone, headphone and others . All of these devices help us to make our life easier. Healthy Eating Having a healthy balanced diet affects every aspect of your health and appearance. Noticeable signs of an unhealthy diet are dull, weak hair; poor gum and teeth health, and weight gain. An unwholesome diet can also cause chronic illnesses such as diabetes, high cholesterol, and heart disease. Being conscious of what you eat through out the day will provide you with the energy and nutrients required to survive and stay healthy. You should eat a variety of foods from every food group to get the essential vitamins and minerals for optimal health.The major food groups are grains, which includes breads and pasta; meat and legumes, such as fish, nuts, and beans; fruits and vegetables including green leafy vegetables and sweet potatoes; dairy products, such as milk and yogurt; and healthy fats and oils. The goal here is to focus not on dieting, but on a healthy approach to eating. If you keep up with your conscious healthy eating habits, as time goes on you will also start to see a change i n your weight. Even just losing as little as five percent of body weight can improve your blood pressure, cholesterol, and blood sugar levels.Eat what you love, and love what you eat. Learn how to get in touch with your hunger. No one eats perfectly all the time, but when you start to pay attention to the taste of food, you can be satisfied with out going overboard. You can eat everything you want still but do it in a moderation. You can choose to have one or the other. For example, if you want to have dessert then don't have a glass of wine. If you happen to be craving french fries from McDonalds go for it! Skip the hamburger and the McFlurry.You don't need to deprive yourself with the food that you love. DeLuca 2 Many people hear the word diet and may get discouraged and think they cant do it because they don't like healthy foods and it just doesn’t work for them. Really to have a good diet is to just balance out your calories so you can just indulge in one or the other, wh ile still keeping you sane with your cravings. Healthy eating is not a diet. It means making changes you can live with and enjoy for the rest of your life. Diets are temporary because you give up so much when you diet.After you stop dieting you may also over treat yourself to make up for what you have missed. Eating a healthy, balanced variety of foods is far more satisfying. Other than balance and moderation a change to healthier eating also helps you learn about variety. Be adventurous and try different foods. For example, don't reach for an apple every time you choose a fruit. Eating a variety of foods each day will help you get the nutrients you need. Another big problem that many folks seem to struggle with is to have a big full breakfast in the morning.Maybe your tired or busy, it can even be that you might just not have enough time for that. What many people may not know though is that eating fully in the morning will give you energy for the day and by bed time you will have it worked out. After taking pleasure in your tremendous breakfast, after a couple hours its only normal to start to feel hungry again so you will go and look for something to snack on. Snacking is not bad, its actually quite good! You can enjoy your favorite clean eats with out guilt all day.Just space them out. If you love high calories foods such as nuts, dairy, peanut butter, etc. you can eat it all! Spacing out meals keeps your metabolism high which means you will continuously burn calories, keep your blood sugar levels stable, and your stomach and mind satisfied. DeLuca 3 Having a busy week schedule may also be another reason as to why some people don’t get the healthy nutrients that they need, because you just don’t have enough time to eat. Well if your constantly on the go then you need to get your energy somehow.You can prepare healthy meals the night before hand and keep them in containers that you can take on the go with you the next day. You can also pack nu ts and fruit to bring to the office so you can snack, because remember its a good thing to do. After a long hard work week, or an exhausting week with school or your children its only normal to throw a few back! When going out for cocktails you should always keep in mind the calorie benefits with your alcoholic beverages. As you should know some beverages are better than others calorie wise.You can pick a red wine over a sugar infested margarita and you can also swap the dark liquored drinks for the light. Just a few small changes like this can go a long way. We all need a little discipline in our lives. So all in all remember that conscious healthy eating is not dieting. The small moderation changes, the variety, and the balance of healthy eating will give you a longer healthier life with out making huge drastic changes that puts a burden on your normal everyday life. If you start these small changes today, you are going to be happier with yourself and how you feel in the long run.

Free Essays on Ritalin

In recent years, more and more kids seem to be on a prescription drug called Ritalin. This drug is being handed out more and more by doctors as a way of treating Attention Deficit Hyperactivity Disorder, a complex neurological impairment that prevents kids from concentrating. The National Institute of Mental Health estimates one out of every six students has this disorder. The rate of Ritalin use in the United States is at least five times higher than in the rest of the world according to federal studies. Ritalin is a central nervous system stimulant that is somewhat similar to amphetamines. It was created in 1955, classified as a controlled substance in 1971, and became the drug of choice for ADHD in 1981. It is also used in treating narcolepsy. It is thought to activate the brain stem arousal system and cortex, and, like cocaine, works on the neurotransmitter dopamine. It appears to increase the levels of dopamine in the frontal lobe where attention and impulsive actions are regul ated. When taken in its intended form under a doctor's prescription, it has moderate stimulant properties. There has been a great deal of concern about its addictive qualities and adverse affects. (Long 1991) ADHD is a relatively new disorder. It was introduced in 1980, where it was labeled ADD (attention deficit disorder). In the 1950's, children were simply labeled "hyperkinetic." The term "hyperactivity" was added in 1987, hence the name ADHD. Not all children have the hyperactivity, and thus are labeled to have ADD. ADD is not treated with Ritalin; antidepressants are more commonly used. One of the problems with the label ADHD is that just because a child may be overly hyper, doesn't mean the child is not paying attention. The problem is the child is paying too much attention to too many things at the same time. Some scientists believe ADHD is a result of a problem in pregnancy ranging from fetal alcohol syndrome to exposure to lead in uterus. Oth... Free Essays on Ritalin Free Essays on Ritalin Parents throughout the country are being pressured and compelled by schools to give psychiatric drugs to their children. Teachers, school psychologists, and administrators commonly make dire threats about their inability to teach children without medicating them. They sometimes suggest that only medication can stave off a bleak future of delinquency and occupational failure. They even call child protective services to investigate parents for child neglect and they sometimes testify against parents in court. Often the schools recommend particular physicians who favor the use of stimulant drugs to control behavior. These stimulant drugs include methylphenidate (Ritalin, Concerta, and Metadate) or forms of amphetamine (Dexedrine and Adderall). My purpose today is to provide to this class the scientific basis for rejecting the use of stimulants for the treatment of attention deficit hyperactivity disorder or for the control of behavior in the classroom or home. I. Escalating Rates of Stimulant Prescription Stimulant drugs, including methylphenidate and amphetamine, were first approved for the control of behavior in children during the mid-1950s. Since then, there have been periodic attempts to promote their usage, and periodic public reactions against the practice. In fact, the first Congressional hearings critical of stimulant medication were held in the early 1970s when an estimated 100,000-200,000 children were receiving these drugs. Since the early 1990s, North America has turned to psychoactive drugs in unprecedented numbers for the control of children. In November 1999, the U.S. Drug Enforcement Administration (DEA) warned about a record six-fold increase in Ritalin production between 1990 and 1995. In 1995, the International Narcotics Control Board (INCB), a agency of the World Health Organization, deplored that â€Å"10 to 12 percent of all boys between the ages 6 and 14 in the United Sta... Free Essays on Ritalin In recent years, more and more kids seem to be on a prescription drug called Ritalin. This drug is being handed out more and more by doctors as a way of treating Attention Deficit Hyperactivity Disorder, a complex neurological impairment that prevents kids from concentrating. The National Institute of Mental Health estimates one out of every six students has this disorder. The rate of Ritalin use in the United States is at least five times higher than in the rest of the world according to federal studies. Ritalin is a central nervous system stimulant that is somewhat similar to amphetamines. It was created in 1955, classified as a controlled substance in 1971, and became the drug of choice for ADHD in 1981. It is also used in treating narcolepsy. It is thought to activate the brain stem arousal system and cortex, and, like cocaine, works on the neurotransmitter dopamine. It appears to increase the levels of dopamine in the frontal lobe where attention and impulsive actions are regul ated. When taken in its intended form under a doctor's prescription, it has moderate stimulant properties. There has been a great deal of concern about its addictive qualities and adverse affects. (Long 1991) ADHD is a relatively new disorder. It was introduced in 1980, where it was labeled ADD (attention deficit disorder). In the 1950's, children were simply labeled "hyperkinetic." The term "hyperactivity" was added in 1987, hence the name ADHD. Not all children have the hyperactivity, and thus are labeled to have ADD. ADD is not treated with Ritalin; antidepressants are more commonly used. One of the problems with the label ADHD is that just because a child may be overly hyper, doesn't mean the child is not paying attention. The problem is the child is paying too much attention to too many things at the same time. Some scientists believe ADHD is a result of a problem in pregnancy ranging from fetal alcohol syndrome to exposure to lead in uterus. Oth...

Free Essays on A View From The Bridge

Kirstie Hartley Examine the ideas of Manliness, Hostility and Aggression in ‘A View from the Bridge’. How are these ideas connected? In this essay I am going to be examining the ideas of manliness, hostility and aggression in ‘a View from the Bridge’ a play by Arthur Miller. I will be looking at how these ideas are connected. Eddie Carbone, the plays protagonist, has very set ideas of what it is to be a man. His views are probably influenced by the era and culture he has grown up in. as an American of Sicilian descent, his views on being a man are probably even more rigid than other men’s in the 1950s. Eddies views on manliness are based around the ideas of protecting your family and loved ones, providing for your family and keeping your pride and dignity. Eddie tries his very best to keep to these things as he feels very strongly of being a man. He shows this by showing concern when Catherine buys a new skirt. He says, â€Å"Where you going all dressed up?† and, â€Å"It’s too short ain’t it?† He is concerned because he doesn’t want her attracting too much attention from other men, like when he says, â€Å"I don’t like the looks they’re giving you in the candy store†. This links in with the idea of protecting your family because he doesn’t trust other men and doesn’t want Catherine getting hurt. He tells her, â€Å"Don’t trust nobody†, and, â€Å"Believe me Katie, the less you trust, the less you’ll be sorry†. Eddie isn’t very happy when Catherine tells him she has a job, he thinks she should carry on at school and says, â€Å"What job? She’s gonna finish school. No- no, you gonna finish school†. I think he is more worried about himself and his pride than Catherine’s education because Eddie sees himself as the traditional manly man, he is the breadwinner, and he looks after his wife and niece. He is worried that once she becomes more independent, going out to work and earning her own money,... Free Essays on A View From The Bridge Free Essays on A View From The Bridge Kirstie Hartley Examine the ideas of Manliness, Hostility and Aggression in ‘A View from the Bridge’. How are these ideas connected? In this essay I am going to be examining the ideas of manliness, hostility and aggression in ‘a View from the Bridge’ a play by Arthur Miller. I will be looking at how these ideas are connected. Eddie Carbone, the plays protagonist, has very set ideas of what it is to be a man. His views are probably influenced by the era and culture he has grown up in. as an American of Sicilian descent, his views on being a man are probably even more rigid than other men’s in the 1950s. Eddies views on manliness are based around the ideas of protecting your family and loved ones, providing for your family and keeping your pride and dignity. Eddie tries his very best to keep to these things as he feels very strongly of being a man. He shows this by showing concern when Catherine buys a new skirt. He says, â€Å"Where you going all dressed up?† and, â€Å"It’s too short ain’t it?† He is concerned because he doesn’t want her attracting too much attention from other men, like when he says, â€Å"I don’t like the looks they’re giving you in the candy store†. This links in with the idea of protecting your family because he doesn’t trust other men and doesn’t want Catherine getting hurt. He tells her, â€Å"Don’t trust nobody†, and, â€Å"Believe me Katie, the less you trust, the less you’ll be sorry†. Eddie isn’t very happy when Catherine tells him she has a job, he thinks she should carry on at school and says, â€Å"What job? She’s gonna finish school. No- no, you gonna finish school†. I think he is more worried about himself and his pride than Catherine’s education because Eddie sees himself as the traditional manly man, he is the breadwinner, and he looks after his wife and niece. He is worried that once she becomes more independent, going out to work and earning her own money,...

A Country Study on the Ancient Cultures of Japan

A Country Study on the Ancient Cultures of Japan On the basis of archaeological finds, it has been postulated that hominid activity in Japan may date as early as 200,000 B.C. when the islands were connected to the Asian mainland. Although some scholars doubt this early date for habitation, most agree that by around 40,000 B.C. glaciation had reconnected the islands with the mainland. Populating the Land of Japan Based on archaeological evidence, they also agree that by between 35,000 and 30,000 B.C. Homo sapiens had migrated to the islands from eastern and southeastern Asia and had well-established patterns of hunting and gathering and stone toolmaking. Stone tools, inhabitation sites, and human fossils from this period have been found throughout all the islands of Japan. The Jomon Period More stable living patterns gave rise by around 10,000 B.C. to Neolithic  or, as some scholars argue, Mesolithic culture. Possibly distant ancestors of the Ainu aboriginal people of modern Japan, members of the heterogeneous Jomon culture (ca. 10,000-300 B.C.) left the clearest archaeological record. By 3,000 B.C., the Jomon people were making clay figures and vessels decorated with patterns made by impressing the wet clay with braided or unbraided cord and sticks (Jomon means patterns of plaited cord) with growing sophistication. These people also used chipped stone tools, traps, and bows and were hunters, gatherers, and skillful coastal and deep-water fishermen. They practiced a rudimentary form of agriculture and lived in caves and later in groups of either temporary shallow pit dwellings or above-ground houses, leaving rich kitchen middens for modern anthropological study. By the late Jomon period, a dramatic shift had taken place according to archaeological studies. Incipient cultivation had evolved into sophisticated rice-paddy farming and government control. Many other elements of Japanese culture also may date from this period and reflect a mingled migration from the northern Asian continent and the southern Pacific areas. Among these elements are Shinto mythology, marriage customs, architectural styles, and technological developments, such as lacquerware, textiles, metalworking, and glassmaking. The Yayoi Period The next cultural period, the Yayoi (named after the section of Tokyo where archaeological investigations uncovered its traces) flourished between about 300 B.C. and A.D. 250 from southern Kyushu to northern Honshu. The earliest of these people, who are thought to have migrated from Korea to northern Kyushu and intermixed with the Jomon, also used chipped stone tools. Although the pottery of the Yayoi was more technologically advanced, it was more simply decorated than Jomon ware. The Yayoi made bronze ceremonial nonfunctional bells, mirrors, and weapons and, by the first century A.D., iron agricultural tools and weapons. As the population increased and society became more complex, they wove cloth, lived in permanent farming villages, constructed buildings of wood and stone, accumulated wealth through land ownership and the storage of grain, and developed distinct social classes. Their irrigated, wet-rice culture was similar to that of central and south China, requiring heavy inputs of human labor, which led to the development and eventual growth of a highly sedentary, agrarian society. Unlike China, which had to undertake massive public works and water-control projects, leading to a highly centralized government, Japan had abundant water. In Japan, then, local political and social developments were relatively more important than the activities of the central authority and a stratified society. The earliest written records about Japan are from Chinese sources from this period. Wa (the Japanese pronunciation of an early Chinese name for Japan) was first mentioned in A.D. 57. Early Chinese historians described Wa as a land of hundreds of scattered tribal communities, not the unified land with a 700-year tradition as laid out in the Nihongi, which puts the foundation of Japan at 660 B.C. Third-century Chinese sources reported that the Wa people lived on raw vegetables, rice, and fish served on bamboo and wooden trays, had vassal-master relations, collected taxes, had provincial granaries and markets, clapped their hands in worship (something still done in Shinto shrines), had violent succession struggles, built earthen grave mounds, and observed mourning. Himiko, a female ruler of an early political federation known as Yamatai, flourished during the third century. While Himiko reigned as a spiritual leader, her younger brother carried out affairs of state, which included diplomatic relations with the court of the  Chinese Wei Dynasty  (A.D. 220 to 65).

Research, Evaluation & Policy Analysis Essay Example | Topics and Well Written Essays - 500 words

Research, Evaluation & Policy Analysis - Essay Example Prior to Ryan's execution the states of New South Wales and Queensland had brought the practice to an end. Walton (2003) indicates that death penalty had been part of the Australian legal system since the settlement by British in the 19th century. Crimes which had the potential of carrying capital punishment included forgery, burglary, stealing of sheep, sexual assault, manslaughter and murder as well as robbery with violence. Other crimes included piracy, treason and arson of naval dockyards. The death sentences were conducted under Aboriginal customary law through sorcery or directly. The victims were denied mortuary rites. The initial executions were conducted when the authorities then in Australia did hanging of mutineers of the Batavia. 12 Since its abolishment, death penalty has been replaced by life imprisonment as the maximum applicable punishment. Is it sufficient for as punishment for such crimes Does it help combat the crimes that were punishable by dearth sentence 13. According to Law Reform Commission of Western Australia (2003), hangings were done at several places including the site of the committed offense. In 1888, the Imperial Convict Establishment at Fremantle used employed for all hangings in the state.

Palestine Crisis Essay Example | Topics and Well Written Essays - 1750 words

Palestine Crisis - Essay Example Moreover, the Arabs argued that Israel without rhyme or reason had denied them access to their religious worship sites which were on the region. This included the Al-Assa Mosque and the Dome of the Rock (Brynen & El-Rifai, 2007). The notion spread abroad and some Jews living abroad developed a feeling that they were being excluded from specific parts in the society because of the presence of anti-Semitism forms in their midst. In addition, they believed that equality could not exist between them and the other European tribes since tribes which were not theirs were totally not interested in the issues that were affecting them. They, therefore, considered themselves to be second class citizens compared to other citizens coming from other European States. The hatred they felt amongst themselves drove them to form a political apparatus where they could freely stand up for their civil rights. Their intentions and ideologies in the begging were pure with secular connotations, but when reli gious Zionism was introduced, they joined as one and changed their ideology with their sole intention geared towards provoking conflict in the land. However, Zionism was strongly opposed by many for different purposes. Their objective was to acquire land for the Jews to be considered as country and they used different approaches to make this a success. Initially, the Zionist tried to figure out different ways to make the Jews leave the country for them. They knew that by constructing a building in the land of Israel, the Jews would be quickly attracted to the region and they partially succeeded in this because some Jews had started to purchase... This essay stresses that the Jewish at the time were very spiritual and they considered Israel, which is currently a nation to be a sacred place for worshipping God. They were further promoted by the biblical writings which argued that Jerusalem was a city of God. They believed that this land was promised to them by God and that the land was them as an eternal gift from God. Therefore, they did not take it lightly when strangers visited the land or possessed possession within it (Selby, 2003). Even after they came out of the country, many amongst them always longed to return to the land. The idea is still being nurtured by a sect amongst the Jewish like the religious Zionist who view the current resettlement process as part of God’s wider plan to see it become a reality. This paper makes a conclusion that the Palestine crisis has led to untold suffering amongst individuals who have kept the past to stick to their hearts. Finding a solution to the on going crisis will bring to an end the hatred that is felt by both conflicting sides and will lead to peace in the conflict torn region. The numerous peace negotiations between the two conflicting sides are symbol of hope for peace as different issues are addressed in these negotiations. In my opinion, because of the numerous challenges faced by the two sides in their attempts to find solutions, all sides should place an intense effort and should have an open and realistic mind during the negotiation process to find a peaceful solution for both Israel and Palestine.

GNC Corp1 Essay Example | Topics and Well Written Essays - 1250 words

GNC Corp1 - Essay Example Let us consider the first option that is to hire native Chinese worker into the company. In order to successfully run the operation GNC Corporation will face the issue of cultural differences that exist between America and China. In One survey it has been recognized that cultural differences is the biggest barrier which any company faces while doing business. The management practices of America and China is different. So they need to take into consideration the cultural differences between them to be successful. There is a great difference between China and US with respect to political system, economic system, laws and social values despite the fact that major changes have occurred in China in recent years. China works in a centralized way while US is relatively decentralized. China follows collectivism principle. But in US they follow the principle of individualism. US enterprises have short-term orientation as compared to China’s long-term orientation (Baines 45). . These di fferences in culture greatly affect human behavior and the thinking process, and GNC must provide a platform where people from both the countries can interact on the basis of shared values. These cultural differences will impact the management practices in terms of cooperative strategies, decision making, conflict management, motivation systems and work group characteristics. American managers use open forms when faced with conflicts which are new to Chinese workers as they use assistance from third party. Also Chinese people pay more attention in building social and interpersonal relations. Also for motivating the employees the Chinese follows equity principle which is ignored by the American companies (Ambler 78). But hiring Chinese workers can do a lot of good also for GNC Company. Chinese workers will bring diversity in the business which is required for them to operate in China. They know the local people, what they need and which product will be able to sell most. Also rules a nd regulations that GNC has to follow in Chinese market can be easily followed if there is a presence of Chinese advisors in the company. With such Chinese workers they can reach out to the people in a far effective way. They will direct the strategies which the company needs to take so that their profitability increases. Another strategy that they will employ is to sell their product online, so that they can reach wider consumer base. In China the internet penetration is increasing and it has the second highest internet user base in the world. This opens up avenues of e-commerce base business style. Also the consumer can use the mobile phone as the strategy to reach to new consumers. GNC has to capture Chinese market by reaching out to the Chinese people through the use of their smart phones and digital devices. The rules and regulation of the Chinese government is strict as compared to the US market. They sometimes ban use of social media if they feel like it is a threat to the na tional security. Hence GNC must be careful to implement the online marketing which they will use. They can use Face book, twitter and their local social media sites in China to reach out to wider consumer base. Also telephone marketing is also a way of marketing through which they can use it as a medium to convey about the new products which they are offering to the consumer. Since today

Biography- Emily Greene Balch Essay Example | Topics and Well Written Essays - 750 words

Biography- Emily Greene Balch - Essay Example For all her works as political activist, pacifist, political scientist, sociologist, social worker, and a leader of women social movements she might as well be given credit for the present right of women of suffrage and better labor conditions.      Ã‚  Ã‚  Ã‚  Ã‚   Emily Greene Balch, came from a wealthy family from Boston, Massachusetts. She was the daughter of a successful lawyer named Francis V., once a secretary to Senator Charles Sumner and Ellen Balch. She was born on January 8, 1867 and died on January 9, 1961 (Nobelprize, 1972). In 1946, she was given the Nobel Peace Prize for her lifetime of work and commitment to justice and peace. Working with the notable Jane Adams, also a pioneer in this discipline, they founded the Womens International League for Peace and Freedom (Nobelprize, 1972).      Ã‚  Ã‚  Ã‚  Ã‚   Hers was a time of changes, especially when it came to views towards womens functions in the society.   It was during her time that the first batches of female graduated with college degrees. She, in fact, graduated in Bryn Mawr College with a Bachelors Degree in Arts Major in Greek and Latin in 1889. Apart from this, she was also given the highest award—European Fellowship for her exemplary moral character. She used this Fellowship award to study economics in Paris from 1890 to 1891 under the supervision of Émile Levasseur (Nobelprize, 1972). She went on to write Public Assistance of the Poor in France in 1893 in Paris. Driven by her natural devotion to learning, she continued her formal studies in the university of Chicago and Harvard to earn various courses. She went on to teach economics full time in Berlin from 1895 to 1896. Not long after this, she proceeded to Wellesley College and taught economics and sociology (Harvardsquarelibrary, 2008).   Ã‚  Ã‚  Ã‚  Ã‚   As a young girl, Miss Balch grew up in Jamaica Plain in Massachusetts

End of Life Essay Example | Topics and Well Written Essays - 1750 words

End of Life - Essay Example On the contrary, the scope of end-of-life care essentially aims to define guidelines for caring for patients whose death is expected or anticipated rather than working towards enhancing their life expectancy (Grinyer, 2011). The emergence of ethical dilemmas in end-of-life care are essentially rooted in handling sensitive issues and challenges which surface when executing significant decisions regarding an individual’s life. Thorns (2010) highlights that ethical considerations in the implementation of the process focus upon understanding the patient’s state so as to choose whether to continue with the treatment procedures or discontinue their provision. Moreover, under such circumstances where an individual likely does not possess the required psychological understanding to make correct decisions, concerned attendants and doctors are faced with either challenging the patients’ independence or agreeing with their choices thereby, granting them the right to possess complete control of their position and circumstances (Thorns, 2010). The emergence of ethical considerations in end-of-life care however, is not limited to the aforementioned assertions henceforth, this issue remains highly debated in scholarly circles; this paper applies three prominent ethical perspectives to critically evaluate and examine the concept from an ethical viewpoint. The utilitarian perspective explores theoretical issues from a multifaceted lens with reference to the concepts of end-of-life care and the role of doctors in the recognizing the independence and autonomy of patients with reference making their life decisions. As stated by Singer (2003) the nature of utilitarianism as a branch of consequentialism implies that the value of ethics in terms of each action or behavior is expected to be judged on an individual basis. In terms of examining the implications of adhering to utilitarianism the implications of the decision can be judged in a

Scientific Concept and Learning Development from Vygotsky's Theory Research Paper

Scientific Concept and Learning Development from Vygotsky's Theory - Research Paper Example It is during this development stages that the child acquires the scientific concepts, which enable them to learn and progress (Vygostky & Cole, 1978). Systematic concept and the everyday concepts are two very different ideas in everyday reasoning. In this regard, in the everyday concept, human ideas are based on their social, cultural concepts, but not on the relation to human traits in the field of the size of brain or soul. In the everyday concept, humans tend to think of a certain thinker, which they look at the perception of the socioeconomic and the social-cultural background in which they are associated in work. In the same context, scientists rely on the thoughts, and the tools present in their time. For instance, the playground of a child offers them the opportunity to play with more objects (Daniels & Hedegaard, 2011). The environment holds a major role in learning the progress of the everyday concept. On the other hand, systematic concept entails the person’s behavior or the social behaviors, which are composed of compound of amalgamation of reflexes. Reflexes are the â€Å"fundamental atoms† which are the main straightforward for behavioral acts that are observed. In the same concept, systematic concept involves the use of a scientific move toward analyzing the observable fact in terms of reflexes with the intention to comprehend the complex psychological and the societal phenomenon. However, systematic concept creates tension for the scientific interest and the blend of a reductionist mechanical approach (Egan, 2007). There arises a huge difference between concept and systematic concepts in the everyday ideas. For instance, for everyday concept, the link amid biological and social traits of the state of affairs gives new channels of reasoning about pedagogic approaches to settings such as cerebral palsy. Moreover, teaching profession rebuffs children with disability to acquire

End of Life Essay Example | Topics and Well Written Essays - 1750 words

End of Life - Essay Example On the contrary, the scope of end-of-life care essentially aims to define guidelines for caring for patients whose death is expected or anticipated rather than working towards enhancing their life expectancy (Grinyer, 2011). The emergence of ethical dilemmas in end-of-life care are essentially rooted in handling sensitive issues and challenges which surface when executing significant decisions regarding an individual’s life. Thorns (2010) highlights that ethical considerations in the implementation of the process focus upon understanding the patient’s state so as to choose whether to continue with the treatment procedures or discontinue their provision. Moreover, under such circumstances where an individual likely does not possess the required psychological understanding to make correct decisions, concerned attendants and doctors are faced with either challenging the patients’ independence or agreeing with their choices thereby, granting them the right to possess complete control of their position and circumstances (Thorns, 2010). The emergence of ethical considerations in end-of-life care however, is not limited to the aforementioned assertions henceforth, this issue remains highly debated in scholarly circles; this paper applies three prominent ethical perspectives to critically evaluate and examine the concept from an ethical viewpoint. The utilitarian perspective explores theoretical issues from a multifaceted lens with reference to the concepts of end-of-life care and the role of doctors in the recognizing the independence and autonomy of patients with reference making their life decisions. As stated by Singer (2003) the nature of utilitarianism as a branch of consequentialism implies that the value of ethics in terms of each action or behavior is expected to be judged on an individual basis. In terms of examining the implications of adhering to utilitarianism the implications of the decision can be judged in a

The Negative Effect of the Internet on Non Western Societies and Essay

The Negative Effect of the Internet on Non Western Societies and Should Cover Areas in Business and Culture - Essay Example On the other hand, some critics of the Internet believe that it encroaches on traditional values and practices. This essay focuses on the negative effects of the internet. It aims to discuss the negative effects of the internet on non-western societies, specifically on their business and culture. After doing secondary research on this topic, the Internet can have harmful effects on business because it is used as a tool for different cybercrimes and it can easily violate user privacy and confidentiality; moreover, the Internet also harms cultural values and practices by promoting unhealthy sexual beliefs and practices, converting actual political participation into superficial spectatorship politics and breaking down traditional socialisation relations and conduct. The Internet can enhance access to economies of scale, but because of its ability to reach an almost infinite number of organisations and consumers, criminals have also used it as a tool for their crimes. Internet crimes, a lso called cybercrimes, have become increasingly prevalent because of the widespread adoption of the Internet, the existence of unsecured websites, and lack of security measures on the part of online consumers. Hacking, for instance, can be used to steal financial and personal information. Hackers can and have used the Internet to steal credit card information and use that to make unauthorised purchases online. Internet fraud is one of the most alarming criminal activities. The U.S. Department of Justice (2000) defines internet fraud as: any type of fraud scheme that uses one or more components of the Internet - such as chat rooms, e-mail, message boards, or Websites - to present fraudulent solicitation to prospective victims, to conduct fraudulent transactions, or to transmit the proceeds of fraud to financial institutions or to others connected with the scheme. (cited in Viosca Jr, Bergiel & Balsmeier 2004, p.12). In Africa, Nigeria has gained bad reputation because of Nigerian fr audsters working online. In the article ‘Effects of the electronic Nigerian money fraud on the brand equity of Nigeria and Africa,’ Viosca Jr, Bergiel and Balsmeier (2004) study the effect of Nigerian money fraud on Nigeria’s and Africa’s brand equity. Kotler and Armstrong (2004) define brand equity as something that stands for ‘consumers’ perception and feeling about a product and its performance’ (cited in Viosca Jr, Bergiel & Balsmeier 2004, p.13). Countries and regions can also have brand equity because of the feelings and perceptions that consumers attach to them (Viosca Jr, Bergiel & Balsmeier 2004, p.14). Viosca Jr, Bergiel and Balsmeier (2004) learned that because of Nigerian fraudsters, some foreigners see the county as a haven for criminals and unreliable as business partners and customers. Nwankwo (2003) stresses that: ‘Economic crimes have impacted negatively on the international image of Nigeria, giving it the toga of a crime-ridden nation according to the Central Bank of Nigeria’ (cited in Viosca Jr, Bergiel & Balsmeier 2004, p.14). Another article is concerned of the rise of West African criminal networks in ‘Are There Emerging West African Criminal Networks? The Case of Ghana,’ by Aning (2007). This article reveals that these criminal networks are using the Internet to conduct computer and Internet fraud. These journals reveal that many criminals in non-Western societies are exploiting the Internet as a tool for operating fraud and other crimes. As

Analysis of The Lottery Essay Example for Free

Analysis of The Lottery Essay The Lottery is a film based on the short story of the same name by Shirley Jackson. The story takes place in a small village, where the people held an anniversary activity of lottery. One person in the town is randomly chosen, and the person who got the lottery would be hit to death by stones for the sake of harvest of the following year. In my opinion, â€Å"The Lottery† is a surprise and horror story. The film begins under a friendly atmosphere. The people in the village are close and familiar with each other. Before the lottery, everyone seems in a peace mind and friendly to each other. For instance, Mrs. Hutchinson arrives late, just with an excuse of â€Å"forgetting what day it was†. They talk to each other as usual give me a false impression that the lottery is an event similar as the square dance that is welcomed and festive. I expect that the winner of the lottery will receive a prize, money or something. Mr. Warner who was the eldest person in the town says with pride, â€Å"Seventy-seventh year I have been in the Lottery. † I always think the lottery is a pleasant event until the very moment Tessie screams when she sees her husband pick the black dot. The conclusion surprises me that the winner’s fate is death by friends and family. With this conclusion, the film becomes a horror story. The film centers on the actions of each town people from an objective perspective to reflect the blind obedience, less of rationality and cruel coldness of human nature of the whole town people. In this mundane town, everyone knows each other. However, when Tessie receives the black spot, Mrs. Delacroix tells her, â€Å"Be a good sport Tessie. † People’s reflection to the cruel thing is quite cold-blooded. This film presents a weakness in human individuals. Lottery as such a terrible activity for so many years, with no objections or questions asked. Even someone doubts the lottery has been answered with â€Å"There has always been a lottery. † Even people may not be entirely comfortable with the event, but everyone still goes along with it. No one openly expresses fear or disgust toward the lottery. Even Tessie is friendly and pretending to be pleased to be present before she receives the black spot. I think if Tessie is not the target, she will also throw the stones to the winner. The film shows hypocrisy and human weakness in the small town. It is horrible when people always relying on the traditions, especially some brutal sacrificial ceremonies like the lottery. The holiday atmosphere and surprised conclusion of the lottery intensify the horror of the story. The horror of the lottery is not only the cruel behavior of the people, but also unconcerned reflection to the victim. They feel not guilt to the victim, and even excited when they throw the stones. The lurking evil of human kind is the most horror thing that reflected by the film.

Catcher in the Rye Essay: Eight Early Reviews :: Catcher Rye Essays

Eight Early Reviews of The Catcher in the Rye      Ã‚  Ã‚   Published in 1951, J. D. Salinger's debut novel, The Catcher in the Rye, was one of the most controversial novels of its time. The book received many criticisms, good and bad. While Smith felt the book should be "read more than once" (13), Goodman said the "book is disappointing" (21). All eight of the critics had both good and bad impressions of the work. Overall, the book did not reflect Salinger's ability due to the excessive vulgarity used and the monotony that Holden imposed upon the reader.      Ã‚  Ã‚  Ã‚  Ã‚   Agreeing with Smith was Stern, saying "the book should be read again." There are many reasons for accepting this comment. Peterson, for example, felt that Holden Caulfield's "spirit is intact," while Stern enjoyed Phoebe's good personality.   Phoebe was important because she "preserve[d] Holden's innocence" (Jones). In the end, she keeps Holden at home with his family - after all, who knows what Holden could be up to, living by himself? He has been "trying to live up to his height, to drink with men, to understand mature sex and why he is still a virgin at his age" (Smith 13). It is because of this personality, that Salinger is able to "make the reader chuckle" (Breit). Phoebe is also important to Holden because he "finds a human warmth in [her]" (Engle).      Ã‚  Ã‚  Ã‚  Ã‚   Despite all these positives, many critics felt the book was lacking a great deal. There were many reasons given for not liking The Catcher in the Rye: the vulgarity, the monotony, and the immature personality of the protagonist. To put it bluntly, "one expects something more" out of Salinger (Goodman 21).      Ã‚  Ã‚  Ã‚  Ã‚   All through the book, Holden, as well as his "friends", uses vulgar language. Because of this, Longstreth feels the book is "not fit for children." Although vulgar language is used in the real world, it was very rarely encountered in literature. Other critics agreed with Longstreth, Peterson said the book was "obscene," while Smith warned readers "be advised to let the book alone" if they are bothered by this language. It is Jones' feeling that this language could only be mouthed by a "disturbed adolescent," and that Holden is "immoral and perverted" (Longstreth).      Ã‚  Ã‚  Ã‚  Ã‚   The language was only part of the problem. The book, in many critics' eyes, was monotonous.

Philippine History :: Asian Asia History

Philippine History Spanish Colony 1565 - 1898 Ferdinand Magellan set out from Spain in 1519 on the first voyage to circumnavigate the globe with five ships and a complement of 264 crew. Three years later in 1522, only the one ship, the Victoria, returned to Spain with 18 men. The Philippines were the death of Magellan. The expedition sighted the island of Samar on March 16, 1521. Magellan was welcomed by two Rajas, Kolambu and Siagu. He named the islands the Archipelago of San Lazaro, erected a cross and claimed the lands for Spain. The friendly Rajas took Magellan to Cebu to meet Raja Humabon. Humabon and 800 Cebuanos were baptized as Christians. Magellan agreed to help Raja Humabon put down Lapu-Lapu, a rebellious datu on the nearby island of Mactan. In a battle between Spanish soldiers and Lapu-Lapu's warriors, Magellan was killed on April 27, 1521. Disputes over women caused relations between Raja Humabon and the remaining Spaniards to deteriorate. The Cebuanos killed 27 Spaniards in a skirmish and the Spaniards, deciding to resume their explorations, departed Cebu. For all its losses, the voyage was a huge financial success. The Victoria's 26 ton cargo of cloves sold for 41,000 ducats. This returned the 20,000 ducats the venture had cost plus a 105 percent profit. Four more expeditions followed between 1525 and 1542. The commander of the fourth expedition, Ruy Lopez de Villalobos, named the islands after Philip, heir to the Spanish throne (r. Philip II 1556-1598). The Philippines was not formally organized as a Spanish colony until 1565 when Philip II appointed Miguel Lopez de Legazpi the first Governor-General. Legazpi selected Manila for the capital of the colony in 1571 because of its fine natural harbour and the rich lands surrounding the city that could supply it with produce. The Spanish did not develop the trade potential of the Philippine's agricultural or mineral resources. The colony was administered from Mexico and its commerce centered on the galleon trade between Canton and Acapulco in which Manila functioned secondarily as an entrepot. Smaller Chinese junks brought silk and porcelain from Canton to Manila where the cargoes were re-loaded on galleons bound for Acapulco and the Spanish colonies in the Americas. The Chinese goods were paid for in Mexican silver. Spanish rule had two lasting effects on Philippine society; the near universal conversion of the population to Roman Catholicism and the creation of a landed elite.

Live Like You’Re Dying Essay

Clean, Cull, and Connect. In his short essay â€Å"Live like you’re dying,† Chuck Palahniuk refers them as the â€Å"Three C’s. † After confirming that suicide is the only escape route, they are the three final chores you must finish on your last â€Å"lively† week. Clean everything. Your bathroom, car, refrigerator, everything. Cull down your resources, donate and destroy needless possessions, and get a good haircut. Connect to everyone you’ve ever known and say something nice, no matter how bad you hate them. Don’t feel humiliated, you’ve got nothing to lose except a few days of your life. Also, know that no one will remember you, know that the world will not change after you die. Know that you will not be missed. And after all of this, Palahniuk says you probably won’t bother to kill yourself, since by then you’ll be surrounded by friends who recognize you as a decent and valuable friend. But there is more to the essay than explaining what the three C’s are. Both the title and content clearly spotlights death as a major concept of the essay, as most of Palahniuk’s writings are. Actually, Palahniuk touches on death so often that it seems he cannot go through a single essay without discussing about it. Also, from start to beginning, his sentences are written in such a clean-cut way that the reader almost feels suicidal. â€Å"Do everything. † â€Å"Destroy it. † â€Å"Treat yourself. † â€Å"Your oven will be clean, your car vacuumed. † Even in the merriest mind, one cannot help but be persuaded that the world will crumble when the essay ends. Why does Palahniuk do so? It seems odd – and arduous – for any writer to be so â€Å"deathly† when he writes. Palahniuk was beleaguered by death all his life. In his mind, his happy family had already died when his parents divorced, leaving him and his three siblings to live with their grandparents. Later on, Palahniuk volunteered at a hospice as an escort, where he had to witness the death of a patient he had grown attached to (which lead him to stop volunteer working). And around 1999, Palahniuk’s father – Fred Palahniuk – was shot and dragged into a house which was put on fire. Palahniuk later on helped the decision of the killer’s death sentence, the ex-boyfriend of Fred Palahniuk’s girlfriend. Although death is a frequently visited topic for Palahniuk, he probably doesn’t always write in such a â€Å"deathly† manner on purpose. But it is also not surprising that Palahniuk ends up writing about death every time. Palahniuk’s word choice during the essay is also different from the ordinary writer. Not only that most of them are short, but all of them are so-called â€Å"easy† words (perhaps â€Å"procrastinate† at the last paragraph is an exception). Of course, it comes from Palahniuk’s minimalistic writing philosophy, but anyone with internet connection to Wikipedia can figure that out. The question is, where does his writing philosophy come from? Palahniuk claims himself to be a romantic who expresses ideas that others do not believe in. It is only natural that he holds different ideas from the ordinary man, regarding the unordinary world he grew up in. Therefore, readers of Palahniuk need to think twice about what he wrote to understand it. But complex words tend to have an accurate meaning to it, which doesn’t leave any space to think again about what he was actually trying to say. This leaves Palahniuk no choice but to use more flexible, simpler and original words. Although it doesn’t show in the essay â€Å"Live like you’re dying,† an exception is when it comes to mechanics. For example, in his novel â€Å"Fight Club,† most of the processes in making plastic bombs or soap is described in an accurate manner. This is probably because Palahniuk used to work for Freightliner as a mechanic, but his tendency to describe mechanical processes accurately has less to do with his flow of words than we have interest to. As it has been clearly shown, â€Å"Live like you’re dying† has a deep relation to Palahniuk’s background, almost as if the essay is a shadow of Palahniuk. Everything that Palahniuk has been through, and is going through, is spilled out and spread, conscious or unconscious, on the computer screen when he writes. He can’t help it. And it would be nonsense to say that this only counts for Chuck Palahniuk – every essay is a shadow of the author in some way or the other, a footprint of what he has been through. There’s a sort of syllogism going on here: what you’ve one is what you are, what you are is what you write, so what you’ve done is what you write. If you disagreed, you’d be challenging Socrates.

On Berkeley’s Concept of God and Heinous Sins Essay

It is a misconstrual in positing that George Berkeley’s axiom that God being the author of ideas is responsible for all heinous crimes. And worst, claiming that such postulate of Berkeley is the loophole in his argument and philosophical treatise is reading his philosophic stance superficially. Relying on a version of the argument from design, Berkeley concluded that our ‘ideas’ are produced in our minds by the will of God acting directly. So God, whom we may safely assume to act (in Berkeley’s estimation) in full knowledge of what he is doing, must himself have all the ideas which he generates in human minds, as well as those which he would generate, if the right human acts of will occurred to make them appropriate. And for Berkeley, this would amount to saying that God perceives the whole of physical reality, since physical reality simply is a certain infinitely complex constellation of ideas, and having them before one’s consciousness is perceiving it. That would be, in itself, a welcome conclusion, when we perceive the physical world, what we do is just the same as what God does when he perceives it; all that happens in either case is that a mind has certain perceptions, nothing more, and so the human mind can be just as sure of what it perceives as is the divine mind of what it perceives. But it does not necessarily follow that he is the author of evil because as Berkeley defined sin, it is the manifestation of the spirit’s will, meaning it is not something that is innate to the motion of its body or God’s design (Berkeley 1988). Thus when ethical issues or moral conflict arises, it is not necessary to blame for the transpiration of events. For example, the espousal of capital punishment is not authored by God, but it was the product of human will and faculty. The problem is, when humanity cannot explain things, they tend to account it to God. Unfortunately, they forget that there is no necessary connection between cause and effect, and they failed to realize that heinous sins such as adultery, murder and sacrilege are not will of God but of ours.

Psy 240 Appendix C

There are four stages of sleep, stage 1 occurs when the person decides it’s time to fall asleep. Initially in stage 1 alpha waves start waxing and waning bursts of 8-12 Hz’s EEG. This is when we are alert at our wake fullness. Stage one sleep RRG is low voltage but high frequency signal. As the stages progress into stage 2 there’s a gradual increase in EEG voltage and decrease in EEG frequency. Stage 2 has a higher amplitude and lower frequency and also has two wave forms, k complexes and sleep spindles.Stage 3 is Delta waves, which are the largest and slowest EEG waves. Stage 4 is essentially the predominance of delta waves. Throughout the night the body goes through these 4 stages numerous times. It is a continuous cycle until the body fully awakes. Stage one is also the REM sleep stage and is where a person dreams. There are five common belies of dreams the first being, that external stimuli can become incorporated into dreams. Second, dreams last only an inst ant. Third, some people claim that they do not dream.Fourth, penile erections are assumed to be related to sexual dreams. And lastly, sleepwalking and sleep talking occur only when dreaming. There are two theories related to dreams, the first being Freud’s theory. He believes that dreams are triggered by unacceptable repressed wishes, often of a sexual nature. The second is activation synthesis theory of Hobson’s, he believed that during REM sleep many brain stem circuits become active and bombard the cerebral cortex with neural signals.He believes that a dream is the cerebral cortex’s way of taking all the random thoughts and making sense of them all. I agree with Hobson, I believe that all the random events throughout the day put together the dream. Freud’s theory does not seem legitimate to me because not everyone has negative or unacceptable wishes nor is every dream a sexual. More often than not my dreams comprise of random and often times very confu sing acts. Thus is the reason why I agree with Hobson.

Transformers movie & comic book PowerPoint Presentation

Transformers movie & comic book - PowerPoint Presentation Example But this never renders the comic books inferior, because despite the effect of cinema impact, the comic books are still hot cakes when it comes to sales. The major differences that one can identify in the cinema and the comic book medium would be the effects and the attention they grab. It can be further noticed that though the comic lacks some elements that a cinema typically possesses, it succeeded winning over the hearts of many readers but however there are some major differences and some interesting aspects that have to be attributed to the cinema medium. The comic medium at some point fails to carry the emotions as much as a cinema does, since with reading one restricts himself to his scope of imagination. This scope has been amplified with all the technical effects comprising the sound, music, modulations of speech and adding a sense of our presence, making cinema a more interactive medium. Ang Lee’s â€Å"The Hulk† has seen great success both as comic and cinema and he had combined both these media with great art and articulate understanding of the story. The comic, as one reads draws close attention and maintains a breath taking suspense throughout the book and this in fact shows up in the cinema as well, with impeccable narration and Ang Lee ensured that every character that he portrayed in the cinema was of no less awe that he depicted in the comic.

B 777 Design and Development Research Paper Example | Topics and Well Written Essays - 2000 words

B 777 Design and Development - Research Paper Example Aside from many technical innovations that have done, 777 recognize its uniqueness in the design and the effort. Boeing 777 is pre-assembled and the first 100% digitally designed. It was built in the concept of â€Å"Working Together† and this philosophy made it possible for the company to make 240 designs. The whole team comprises the design team, manufacturing, and the supplier personnel. Building which includes the designing of a new commercial jet liner takes a lot of time and patience. The process take around five years or more than and sometimes even decades. It is very important that this kind of project be documented especially if the specific project is the first of its kind. Outlines Abstract Issues Innovations 777-200LR 777-300ER Decisions about 777 Characteristics and Variants of 777 Deliveries of 777 Accidents of 777 Productions Financial Analysis Final Analysis References Background Model 777 is the first jetliner for more than a decade among the Boeing airplane to be designed using three-dimensional graphics digitally in the computer. An investment of 10$ billion in the development of the 777 is spend by the company. In October 1990, the 777 program was launched through the Chief Executive Officer, Mr. frank Shorts. From the beginning order of the United Airlines, in June 1995, United Airlines flew its first ever 777 profit service. The demand of the market determines 777 as the newest member of the twin-aisle family of Boeing. Features in the design of the airplane was offered like approaches to the development of the airlines and innovations which sets the quality standard of the value in the airlines delivery. The 777-300 authorize production by the Boeing Board of Directors is on June 26, 1995. It was July 1998 when the first delivery materialized to Cathay Pacific Airways in June 1998. Issues: Understand and learn from the designs and facts along the processes in the making Boeing 777. To have the knowledge and deeper understanding ab out the importance and profits of mutual designing in the group effort of many big companies in the process of the aircraft manufacturing. To have a deeper knowledge and appreciation on how modern technologies have been used in the making of Boeing 777. To get an understanding of the beneficial and amazing features of Boeing 777. Innovations The 777 has made improvement in its Interior flexibility, flight plan, distinguish design, airfoil technology and considered as the most spacious and the widest among its class. Its larger shipment and range capacity resulted to lesser operating expenses to airlines. The Boeing 777 is smaller comparing to the 747 nut it is much bigger comparing to either twin jet or even trijet in its class. The 777 aircraft is a double engine, economically advantageous to the medium and in the long-range markets. Some amazing features the 777 is offering in the 1990s are highly develop complex emppenage, advance and considered as the most powerful engines produ ced and used in a commercial airplane, an aerodynamically competent airfoil wing, joint digital data bus originally built for use of the 777, and the fly-by-wire (Global Secutity.org 2009). 777-200LR Pakistan International Airlines built the first 777_200LR (Long Range). When the 777-200LR, the C-marke2 model, entered the service in 2006 is the longest-range commercial airliner in the world. The aircraft is called by Boeing the world liner in

European Union Debt Essay Example | Topics and Well Written Essays - 500 words

European Union Debt - Essay Example The European Union debt crisis was a fusion of complex elements in the world market. The globalization of finance and facilitation of easier access to credit in 2002-2008 period enhanced risky lending and borrowing among the member states. Moreover, the fiscal policies, trade imbalances and property bubbles accelerated the dept status (Dikson, Julie, and Pavlos 30). The governments were losing money following the banking system bailouts to defaulters of the property bubble. Furthermore, the pension commitments and the unsustainable public wages increased the debt level (Lynn 11). The increased capital and savings in the global pool of the European Union and other investors set the policy and regulatory structures in the member countries. This is because lenders and borrowers were quick to transact thus generating economic bubbles in each continent (El-Agraa 39). A decline in the monetary value resulted in significant losses and declines in property values. However, the liabilities owed to the global investors remained at constant prices resulting in major losses to the borrowers and insolvency of banks and government (Crifò 30). According to Sanghera (21), the Northern countries, such as Norway and Sweden, were able to cope with the crisis because their governments lent capital to property developers. This generated huge property bubbles. When the bubbles collapsed, their governments and citizens assumed private debts. These reduced excessive burden to the government to bail the nation out. After some time, these nations were able to retain a fair economic position with better employment percentage. In Greece, however, the government enhanced its commitment to the public employees by facilitating higher wages and pension settlements. Notably, the employment wage bill doubled exponentially in real terms. Moreover, the banking systems grew quickly creating enormous external

History of Canadian Labour Essay Example | Topics and Well Written Essays - 2500 words

History of Canadian Labour - Essay Example Triggered by a conflict between metal workers and their bosses, the agitation rapidly spread throughout the city's working class. This essay is going to trace the growth and development of the working class people in the history of Canada between 1880 and 1920. A thorough assessment of the period will be made with regards to simultaneous union and splitting of the working class on the basis of race, gender, region and skills. The Knights of Labor made their presence felt by uniting workers of different types. Gradually the organization spread its control over small towns and villages. It was in 1881 when Hamilton became one of the strongholds of the labor organization, followed by Qubec and BC, Nova Scotia and Manitoba. The local neighboring areas of New Brunswick and Alberta were also parts of the 450 local assemblies across Canada. Labor politics rose to prominence as the Knights of Labor reform group coordinated and controlled the Trades and Labor Congress of Canada. The self-governing labor political campaign, which played a crucial role in terms of growth and development of working class militancy in Canada in the end of the nineteenth century, led to parliamentary lobbying, thus bringing the most pertinent issues of the working class before political and administrative authorities. The fundamental rights of the working class people were brought to notice through intensive campaigning and follow-up mechanisms. The dedication of the Knights leaders and more importantly, the spontaneous participation of labors from all areas of manual works helped enormously to turn the campaign into a success story. The Knights approached Ontario and the West in 1886, but the major success as far as voicing peoples' rights and demands is concerned came in Qubec and Ottawa in the 1890s. The development of working class unions in Canada prior to the World War II hastened up when the Knights of Labor organization was forced out on the ground of duality from the TLC at Berlin in 1902. The influence of the Knights of Labor on the working class did not concern just the idea of making unions, but the intent to curb the monopoly and exploitation of the contemporary capitalist social structure by developing alternatives based on equality and justice. To expatiate furthermore on the thesis topic in hand, one needs to gain a clear insight on the value of skilled labors. In any society, skilled labors do have an upper hand over incompetent labors. The age of rapid spread in industrialization necessitated deployment of efficient labors to maximize output in factories. During the span of forty years from 1880 to 1920, the working class fraternity of Canada orchestrated community business to maximize production. In Toronto, skilled and experienced craftsmen exercised far greater control over their employers in terms of production. The individual as well as collective discipline of veteran labors was considered to be an asset in Canada in those times. The labor unions in Toronto and other places acted forthrightly on choosing the right people for the right cause. But when the industrial capitalization threatened to disturb the balance of the working class society, a protest movement was on the cards. By and large, the working clas

The Legacy of Vietnam Term Paper Example | Topics and Well Written Essays - 750 words

The Legacy of Vietnam - Term Paper Example The withdrawal of forces implied no direct involvement, but the US still planned to safeguard ‘Saigon’ through military and economic aid. Although Nixon’s regime uncompromisingly worked for â€Å"Thieus’s† (South Vietnamese Premier) cause but because of certain issues raised by the US Congress, the aid to the South Vietnam was cut by half. Reduced aid further weakened South Vietnam’s position. This period was also marked by the premature resignation of President Nixon. The advance by the North Vietnamese communist army was swift and the conquest was completed in 1975. One of the prime implications of the conflict was economic. The war had brought a wave of inflation that the US had not witnessed in years with money flowing into Indochina for the ‘Anti Communist’ cause. Although the North Vietnamese were ostensibly victorious in unifying Vietnam, their victory was accompanied by the drainage of its State treasury. The country had b een ecologically damaged and all other institutions apart from the army had been moribund during the war years. The war had ironically turned Vietnam into one of the poorest countries of the world with fourth largest army in the world. The political implications were also major and they transcended the immediate region of Vietnam and also affected the proximal regions. The following chaos in Laos and Cambodia form an integral part of the ‘legacy’ of the war. The new unified Vietnam was facing its own problems with the culturally disparate north and south struggling to maintain a same national identity. In the post war years, America has made deliberate attempts to erase the lost Vietnam War from its consciousness. This made the veterans position rather flimsy as their efforts and sacrifices in the war were being rendered futile and meaningless by the public. This forced exclusion of Vietnam War has in a way alienated the war veterans who have suffered from isolation, dr ug abuse and many psychological disorders. Moreover, the views of the public on the war are very variegated which make the Vietnam War a fairly complex issue to understand. With the loss of the Vietnam War, the writer believes that the American policy makers have become more and more security conscious over the years. Taking the increased involvement of the USSR in the Afghan region as an example, the Americans spent millions of dollars on harnessing fundamentalist guerilla warfare in the region. Similar examples can also be seen in the leftist revolutions in the Central American region. The conclusion perhaps holds the crux of the article. The writer with the entire historical contextualization is trying to assert that the Vietnam War was in fact a paramount event in the history of international politics. It was marked with the exposure of the vulnerability of a Superpower that was far more superior militarily and economically from its opponent but had to suffer a humiliating defea t. The writer believes the contemporary world is not the world that was easily manageable by the imperial powers as in the 1940s. The political intervention of the powerful nations is not as easy as it used to be in the earlier half of the century when the superpowers defined the political map to suit their strategic interests. In the new era, America needs to accept its weaknesses and accommodate situations that might not be as palatable

Persona Responsibility Essay Essay Example for Free

Persona Responsibility Essay Essay Personal responsibility, in this context, is an important concept composed of these parts: Fist, what the words personal responsibility means to you? Second, what relationship exists between personal responsibility and college success? Last but not least, what preliminary plan do you have to practice personal responsibility in your education? Personal responsibility is a decision that you make to live up to your own ideals and expectations. It also means that you would be accountable for what you say, do, or think. It can also mean self awareness of a person towards the success of one’s life. Personal responsibility starts inside us and move outwards. We should not blame others for our mistakes. We should start blaming our self if something went wrong that way we can find ways to fix it and move on our life. Also, don’t postpone doing what you can do today, because tomorrow has it own problem to solve; if you can, today is the perfect day to develop your talents. Many students believe that it is a responsibility of the instructors or other students to help them succeed in college. I believe it is me and only me who can achieve my own success. Personal responsibility is accepting what ever consequences come from my actions and understanding how to improve and make necessary changes. By setting personal goals, staying focused, and time management skills, I can achieve college success. A good way to improve my college career is to stay organized. Often times in college, the schedule of classes, and making time for things other than school can be extremely challenging. This requires me to have a good time management skills, keep a detailed schedule of all future deadlines, and to have whatever resources and supplies available and ready to use. The Journal  of College Admission says: â€Å"The student would benefit from using organizational tools, such as planners, calendars, to-do-list, folders, blinders, and dividers† (Prevatt, Huijun, Welles, 2011, para.). Also, every society, like every family has their rules. If you want to live a better life with no troubles, you have to follow those rules. Following the rules makes your life easier and happy. When it comes to relationship between personal responsibility and college success, we all need to think twice. There is correlation between personal responsibility of the student and their success in college. This relationship exists because personal responsibility directly affects issues that are pertinent to ones life such as family, relationships, education, as well as physical and spiritual well-being of an individual. Personal responsibility determines the success of the student in college for a number of reasons (Charles, 2008). The first, and I think one of the most important, is self-discipline. Personal responsibility is the ability to be in control of ones life in terms of actions, emotions, etc. Students who do not have personal responsibility concerning their lives are prone to influences of doing what others are doing by just following them without proper reasons. This lack of self-control comes about because any individual without a sense of personal responsibility will always be irresponsible. A student without personal responsibility will blame the lecture for failing in the exam when a responsible student with personal responsibility will rather analyze the reasons behind his/her failure and decide to take action to pass the exam. This explains why students who have a sense of personal responsibility have higher scores than those without personal responsibility (Bourbon, 1994). The other factor that makes students who take personal responsibility to succeed in college more than the others who do not take personal responsibility is that they do not allow circumstances to hinder their progress in life. They do have a high sense of self-esteem, which makes them to confront issues critically rather than emotionally. Students who feel that they are not in control pity themselves when they have issues to deal with in their lives thus affecting their physical health negatively. This may lead to absenteeism from classes and even suicidal cases (Charles,  2008). Students who are aware of the words personal responsibility also manage to delay gratification; it’s the ability to deny oneself pleasure in pursuit of a particular goal. Personal responsibility enables a student to stick out or to persevere in pursuit of academic excellence thereby delaying the enjoyment of pleasures, which may affect the concentration, or peace of mind in pursuit of excellence. Th e delay gratification of pleasures such as drug abuse, sexual relationships, and hooliganism are known to affect student’s academic performance (Bourbon, 1994). Studying at university is not just about learning a lot of things that are fascinating in themselves but, preparing your future in a work place. At the same time as you develop your knowledge of your subject and the skills required to perform well in it, you’re actually developing a whole range of skills and intellectual abilities that can be transferred to other areas of life, including your future employment. To reach that goal, you have to be hard on yourself; you have to set a study time and respect it no mare what, Study individually is good, but, group study is better because you have more than one ideas and a lot of experiences to take advantage of. You also need an appropriate place with no noise around to be concentrate and do your work. Be strict on your school schedule like you are for the one at wor k. Make sure to do all your assignments on time and make sure that you respect the time you set for your studies. College demand extra work to do. You have to manage your time between your work, your family members, your friends and so on †¦ Time managing is very important if you want to succeed in college. Planning thing ahead can help thing get done early so that you can have enough time to do your school work. As work responsibilities, school has his part too. Study, do assignment on time, participle in group activity, find a good place and time to study. Discipline is a key word I Think to succeed in college. A person cannot succeed if there is not a personal responsibility for what he/she is doing. In order for me to practice my personal responsibility in my education, I need to do my own assignment, do my work on time; don’t wait for someone else to do it for me. If I’m having troubles understanding a subject, I can as my instructor or a classmate for help for more explanations instead of letting someone else do it for me. Doing your own assignment helps understanding your courses and be successful at the end. References Charles, Chester (2008). Building Classroom Discipline Boston: Pearson Education Bourbon, Thomas (1994). Discipline at Home and School: New York: Brandt

Institutional Holdings and Corporate Governance

Institutional Holdings and Corporate Governance CHAPTER IV As noted earlier, the need for corporate governance arises from the potential conflicts of interest among participants (stakeholders) in corporate structure. These are often referred as agency problems arise from two main sources. First, different participants have different goals and preferences. Second, the participants have imperfect information as to each others actions, knowledge and preferences. Berle and Means (1932) addressed these conflicts by examining the separation of ownership and control. They noted that this separation, in the absence of other corporate governance mechanisms, provide executives with the ability to act in their own self-interest rather than in the interest of shareholders. However, executives activities are potentially constrained by numerous factors that constitute and influence the governance of the corporations that they manage. These factors can be thought of as either internal control mechanisms (such as the board) or external control mechanisms (s uch as the market for corporate control). An increasingly important external control mechanism affecting governance worldwide is the emergence of institutional investors as equity owners. Although institutional investors are the predominant players in some countries financial markets and are therefore important in corporate governance, yet the ownership  structures and other governance characteristics differ across markets. These differences are attributable in part to legal and regulatory systems and in part to the manner in which the markets have evolved. These characteristics will continue to vary across countries, leading to differences in the role and influences of institutional investors in corporate governance. Previous researchers have shown that because of the costs involved, only large shareholders have the incentive to provide extensive monitoring of management. Whether institutions as large shareholders should, or will, provide such monitoring depends in part on the constraints to which they are subjected, their objectives, and their preferences for liquidity. Keeping the above into consideration, it is pertinent to examine the intricacies of institutional holdings in the governance matters of Indian corporates. Many a time, institutional holdings pre-empts good corporate governance still at other times, good corporate governance endues institutional investment in the firm. The ongoing debate as to the institutional holdings and the corporate governance is very live or interactive in the academics these days too. The results of earlier studies are inconclusive as to the deterministic value of the one or the other. In the present study, Corporate Governance Score index has been developed on the basis of key characteristics of Standard and Poors Transparency and Disclosure Benchmark to rate sampled firms in terms of corporate governance. The institutional holdings in terms of equity investment has been expressed in percentages to total investment and comparatively, in terms of the relative composition of the institutional equity investment. This chapter makes a detailed analysis of the dynamics of corporate governance and the institutional holdings in the following three perspectives: 4.1) Dynamics of institutional holdings and its composition 4.2) Relationship between Institutional Holdings (explanatory variable) and the Corporate Governance (dependent variable) 4.3) Relationship between the Corporate Governance (explanatory variable) and Institutional Holdings (dependent variable) The results obtained for the sampled in this regard are reported, in an analytical frame, here as under: 4.1.1) Status of Institutional Holdings: The results obtained for sampled companies as regard to the status of institutional holdings in the sampled companies during the study period 2004-08 are summarized in table no. 4.1 given below: Table 4.1 Institutional Holdings in the Sampled Companies Institutional Holdings (%) Number of Companies 2004 N (%) 2005 N (%) 2006 N (%) 2007 N (%) 2008 N (%) Below 5 61 30.5 53 26.5 46 23.0 46 23.0 47 23.5 5-10 34 17.0 31 15.5 30 15.0 26 13.0 27 13.5 10-15 30 15.0 34 17.0 22 11.0 25 12.5 22 11.0 15-26 37 18.5 40 20.0 43 21.5 43 21.5 42 21.0 26-50 36 18.0 38 19.0 54 27.0 55 27.5 55 27.5 Above 50 02 1.0 04 2.0 05 2.5 05 2.5 07 3.5 Total 200 100 200 100 200 100 200 100 200 100 The information inputs reported in the present table reveals that the proportions of institutional holdings in the sampled companies have increased over the years. The numbers of companies with larger proportions of institutional holdings have been increasing and the numbers of companies with smaller proportions of holdings have been declining over the study period. As institutions have above 50 percent holdings in only 1 percent companies in 2004, where as in the last year of the study period, it increased to 3.5 percent. Similarly, institutions have holdings from 26 to 50 percent in 18 percent companies in 2004 that rises to 27.5 percent companies in 2008. The same trend follows for the companies in which institutions have holdings from 15 to 26 percent. The decreasing number of companies with relatively lower institutional holdings also validates it. As institutions have less than 5 percent stake in 30.5 percent companies in 2004, which reduced to only 23.5 percent companies in 2008. Similarly, institutions have holdings up to 10 percent in 17 percent companies that reduced to 13.5 percent in the last year of the study period. Thus, it is observed that institutional investors have been increasing their stake in the sampled companies over the study period. Hence, it is inferred that institutional investors have been consistently getting more interested in the sampled companies over the study period. 4.1.2 Constituents of Institutional Holdings: As noted earlier, Institutional holdings have been further classified into three categories i.e., Mutual Fund, (Banks, Financial Institutions and Insurance Companies) and Foreign Institutional Investors. The results obtained for the sampled companies as regard to the status of Mutual Funds holdings in relation to the total shareholdings and to the total institutional investors in the sampled companies during the study period 2004-08 are summarized in part (a) and part (b) of the table no. 4.2 given below: Table 4.2 (a) MF Holdings in Relation To Total Shareholdings Mutual Fund Holdings (%) Number of Companies 2004 N (%) 2005 N (%) 2006 N (%) 2007 N (%) 2008 N (%) Below 5 140 70.0 143 71.5 117 58.5 113 56.5 119 59.5 5-10 42 21.0 34 17.0 52 26.0 54 27.0 41 20.5 10-15 14 7.0 14 7.0 22 11.0 23 11.5 29 14.5 15-20 03 1.5 07 3.5 07 3.5 07 3.5 07 3.5 Above 20 01 0.5 02 1.0 02 1.0 03 1.5 04 2.0 Total 200 100 200 100 200 100 200 100 200 100 Table 4.2 (b) MF Holdings in Relation to Total Institutional Holdings Mutual Funds Holdings (%) Number of Companies 2004 N (%) 2005 N (%) 2006 N (%) 2007 N (%) 2008 N (%) 0-20 96 48.0 104 52.0 100 50.0 103 51.5 101 50.5 20-40 55 27.5 38 19.0 41 20.5 50 25.0 47 23.5 40-60 22 11.0 21 10.5 24 12.0 14 7.0 23 11.5 60-80 09 4.5 18 9.0 19 9.5 16 8.0 17 8.5 Above 80 18 9.0 19 9.5 16 8.0 17 8.5 12 6.0 Total 200 100 200 100 200 100 200 100 200 100 The information inputs reported in part (a) of the present table depict that mutual funds have increased their proportions of shareholdings in relation to the total shareholdings over the study period. The number of sampled companies with higher proportions of mutual funds holdings has been increasing over the study period. Similarly, the number of sampled companies with lower proportions of mutual funds holdings has been decreasing over the same period. As mutual funds have more than 20 percent holdings in 0.5 percent companies in 2004, which increased to 2 percent companies at the end of the study period. Similarly, Mutual Funds have holdings to the extent of 20 percent only in 1.5 percent companies in 2004 that increased to 3.5 percent companies in 2008. It is also observed that there were only 14 companies in 2004 in which mutual funds holdings were from 10 to 15 percent, which increased to more than double at the end of the study period. It is also validated by the observations of the companies in which mutual funds have lower stake. There were 70 percent companies in which mutual funds had less than 5 percent holdings and the proportion of companies with such holdings reduced to 59.5 percent in 2008. Hence, it is inferred that mutual fund companies have become more interested in the sampled companies over the study period. The information inputs reported in part (b) of the present table reveal out that there is no consistency in the investment pattern of mutual funds in the sampled companies over the study period. Mutual fund holdings in relation to total institutional holdings have remained more or less between zero and 20 percent in about 50 percent companies. On an average in 23 percent companies, mutual funds hold 20 to 40 percent shares. Mutual Funds reduced their holdings in 20 to 40 percent category in sampled companies over the study period. Where as there has not been major change in the number of companies with 40 to 60 percent mutual fund holdings. On the other hand, mutual funds have increased their stake from 60 to 80 percent in sampled companies over the study period. There are 9 companies with such holdings, which increased to 17 companies in 2008. But the number of sampled companies with mutual funds holdings more than 80 percent has gone down over the study period. As in 2004, there ar e 9 percent companies that reduced to 6 percent at the end of the study period. Hence, no inference can be drawn about the investment behaviour of mutual funds in relation to the total institutional holdings in sampled companies over the study period. The results obtained for sampled companies as regard to the status of Banks, FIs and ICs holdings in relation to the total shareholdings and total institutional holdings in the sampled companies during the study period 2004-08 are summarized in part (a) and part (b) of the table no. 4.3 given below: Table 4.3 (a) Banks, FIs and ICs Holdings in Relation To Total Shareholdings Bank, FI and IC Holdings (%) Number of Companies 2004 N (%) 2005 N (%) 2006 N (%) 2007 N (%) 2008 N (%) Below 5 127 63.5 135 67.5 142 71.0 139 69.5 141 70.5 5-10 36 18.0 28 14.0 27 13.5 34 17.0 29 14.5 10-15 19 9.5 24 12.0 19 9.5 18 9.0 18 9.0 15-20 09 4.5 08 4.0 07 3.5 04 2.0 08 4.0 Above 20 09 4.5 05 2.5 05 2.5 05 2.5 04 2.0 Total 200 100 200 100 200 100 200 100 200 100 Table 4.3 (b) Banks, FIs and ICs Holdings in Relation to Total Institutional Holdings Banks, FIs and ICs Holdings (%) Number of Companies 2004 N (%) 2005 N (%) 2006 N (%) 2007 N (%) 2008 N (%) 0-20 70 35.0 90 45.0 103 51.5 99 49.5 99 49.5 20-40 34 17.0 34 17.0 41 20.5 41 20.5 34 17.0 40-60 29 14.5 30 15.0 16 8.0 23 11.5 37 18.5 60-80 21 10.5 13 6.5 17 8.5 15 7.5 08 4.0 Above 80 46 23.0 33 16.5 23 11.5 22 11.0 22 11.0 Total 200 100 200 100 200 100 200 100 200 100 The information inputs reported in the part (a) of the present table depicts that the proportions of Banks, Financial Institutions and Insurance Companies in the sampled companies have decreased over the years. The numbers of companies with lower proportions of these holdings have been increasing and the numbers of companies with higher proportions of holdings have been decreasing over the study period. As in 63.5 percent companies, Banks and others hold less than 5 percent shares in 2004 while in 2008, 70.5 percent companies have the same holdings reflecting that over the study period, the above category of institutional investors have shown less interest in the sampled companies. Similarly, Banks and others hold up to 10 percent of total shareholdings in 36 companies which reduced to 27 in the year 2006 and finally to 29 companies in the year 2008. Likewise, the number of companies with more than 20 percent holdings has reduced from 4.5 percent in 2004 to 2 percent in 2008. Thus, i t is observed that Banks, FIs and ICs have withdrawn their substantial holdings in some companies while number of companies with marginal holdings has increased. Hence, it is inferred that Banks, FIs and ICs are getting less interested in the sampled companies over the study period. The information inputs reported in the part (b) of the present table depict the results coherent with the results shown in part (a) as Banks, Financial Institutions and Insurance Companies have decreased their holdings in relation to total institutional holdings in the sampled companies over the study period as well. They have more than 80 percent holdings in 23 percent companies in 2004 but in the last year of the study period, it was just in 11 percent companies. Similarly, these investors had 60 to 80 percent holdings in 21 companies in 2004, but in 2008, the number of companies with such holdings reduced to only 8 companies. The same is validated by the proportional increase in the number of companies with relatively lower holdings. Banks and others held to the limit of 20 percent shares in 70 companies in 2004 and in 2008, the number of companies with such holdings rose to 99. These investors have shown more interest in increasing their holdings from 40 percent to 60 percent in the sampled companies over the study period as they had such holdings in 14.5 percent companies in 2004 that increased to 18.5 percent in the last year of the study period. Thus, it is observed that the above-mentioned investors are gradually reducing their stakes to the lower levels in proportion to total institutional holdings in the sampled companies over the study period. Hence, it is inferred that Banks, FIs and ICs have been loosing interest in the sampled companies. The results obtained for sampled companies as regard to the status of FII holdings in relation to the total shareholdings and to the total institutional investors in the sampled companies during the study period 2004-08 are summarized in part (a) and part (b) of the table no. 4.4 given below: Table 4.4 (a) FII Holdings in Relation To Total Shareholdings FII Holdings (%) Number of Companies 2004 N (%) 2005 N (%) 2006 N (%) 2007 N (%) 2008 N (%) Below 5 133 66.5 114 57.0 103 51.5 100 50.0 92 46.0 5-10 29 14.5 30 15.0 24 12.0 24 12.0 36 18.0 10-15 17 8.5 22 11.0 23 11.5 23 11.5 26 13.0 15-20 09 4.5 13 6.5 15 7.5 25 12.5 18 9.0 20-26 12 6.0 21 10.5 35 17.5 28 14.0 28 14.0 Total 200 100 200 100 200 100 200 100 200 100 Table 4.4 (b) FII Holdings in Relation to Total Institutional Holdings FII Holdings (%) Number of Companies 2004 N (%) 2005 N (%) 2006 N (%) 2007 N (%) 2008 N (%) 0-20 115 57.5 83 41.5 74 37.0 69 34.5 62 31.0 20-40 20 10.0 35 17.5 33 16.5 28 14.0 39 19.5 40-60 29 14.5 36 18.0 33 16.5 34 17.0 43 21.5 60-80 23 11.5 25 12.5 35 17.5 40 20.0 33 16.5 Above 80 13 6.5 21 10.5 25 12.5 29 14.5 23 11.5 Total 200 100 200 100 200 100 200 100 200 100 The information inputs reported in the part (a) of the present table reveals that the proportions of FII holdings in relation to total shareholdings in the sampled companies have increased over the years. The numbers of companies with higher proportions of FII holdings have been increasing and the numbers of companies with smaller proportions have been decreasing over the study period. As FIIs have 20 to 26 percent holdings in only 6 percent companies in 2004, where as in the last year of the study period, it increased to 14 percent. Similarly, FIIs have holdings from 15 to 20 percent in 9 companies in 2004 that got doubled to 18 companies in 2008. The same trend follows for the companies with FII holdings from 10 to 15 percent. FIIs had such holdings in 17 companies only in 2004 but in the last year of the study period, it increased to 26 companies. The decreasing number of companies with relatively lower FII holdings also validates it. In nutshell, the FIIs have been consistently i ncreasing their stake in relation to the total shareholdings in the sampled companies over the study period. Hence, it is inferred that institutional investors have been consistently getting more interested in the sampled companies over the study period. The information inputs reported in the part (b) of the present table also depict results consistent with the results shown for part (a). The proportion of FII holdings in relation to the institutional holdings in the sampled companies has also increased over the years. As institutions had above 80 percent holdings in only 6.5 percent companies in 2004, where as in the last year of the study period, it increased to 11.5 percent companies. Similarly, FIIs had holdings from 60 to 80 percent in 23 companies in 2004 that increased to 33 companies in 2008. The same trend follows for the companies with FII holdings from 40 to 60 percent. The decreasing number of companies with relatively lower FII holdings also validates it. As FIIs have less than 20 percent stake in 57.5 percent companies in 2004 which reduced to only 31 percent companies in 2008. Hence, it is inferred that FIIs have shown more interest in the sampled companies over the study period. Resume It can be observed from the result outputs of the first section that the institutional investors have increased their proportional holdings in the companies over the years. The number of sampled companies is consistently increasing with higher institutional holdings where as the number of companies are decreasing with lower proportions of institutional holdings. The mutual fund investors have also increased their holdings in relation to the total shareholdings over the study period. The number of companies with higher mutual fund holdings has been increasing over the years. Similarly, the number of companies with lower mutual fund holdings has been decreasing over the study period. But the results of observations of mutual fund holdings in relation to total institutional holdings state otherwise. Mutual funds have increased their proportions of holdings to the total shareholdings in the sampled companies over the study period but it is not so in relation to the total institutional ho ldings. Therefore, the investment pattern of mutual funds is not clear. Where as Banks, Financial Institutions and Insurance Companies have decreased their proportional holdings in the sampled companies over the study period. There has been decline in the number of sampled companies with higher proportion of the Banks, FIs and ICs holdings. Validating the same, the numbers of companies with lower proportion of above holdings have been increasing over the study period. The results are consistent for the proportion of Banks, FIs and ICs in relation to total institutional holdings as well. To the contrary, foreign institutional investors have increased their proportional holdings in the sampled companies over the years. The number of companies is increasing with higher FII holdings and the number of companies is decreasing with lower proportion of FII holdings. The results are similar in relation to the total institutional holdings as well. Hence, at the end of the section it is inferr ed on the basis of result outputs that institutional investors in total and foreign institutional investors are getting more interested in the sampled companies over the study period. Banks, financial institutions and insurance companies are getting less interested in the same companies over the study period. And the results are inconclusive for the mutual funds. 4.2.1 Status of Corporate Governance Score in Sampled Companies: The Corporate Governance status of sampled companies is depicted in table 4.5. Total sampled of 200 companies has been divided into four quartiles of 50 companies each. The first quartile shows the company codes with highest corporate governance scores with in the range of 58 to 76 with the average score of 62.5. The second quartile shows the company codes with higher corporate governance scores with in the range of 52 to 58 with the average score of 54.3. The third quartile shows the company codes with lower corporate governance scores with in the range of 46 to 52 with the average score of 48.7. The fourth quartile shows the company codes with lowest corporate governance scores with in the range of 26 to 46 with the average score of 40.04. Table 4.5 Status of Corporate Governance in Sampled Companies Sampled Companies Number of Companies Sampled Company (Code) Range Average Governance Score Q1 50 2,5,6,11,13,15,21,26,27,28,29,37,39, 41,42,47,48,53,56,68,69,71,72,75,76,7778,79,84,86,88,91,93,96,97,98,102, 104,106,119,124,132,135,147,171,173180,189,194,198 58-76 62.5 Q2 50 10,17,18,30,31,33,34,36,38,45,46,52, 54,55,57,58,60,61,62,63,64,65,80,85, 100,101,103,108,117,118,121,125, 134,142,149,150,156,160,167,170, 175,177,179,183,184,185,186,187, 190,197 52-58 54.3 Q3 50 1,3,4,9,14,16,19,20,23,40,43,44,50, 59,66,70,73,74,82,83,92,94,99,105, 107,109,110,113,115,120,123,123, 127,129,130,137,139,151,152,154, 155,162,163,165,169,182,188,192, 196,200 46-52 48.7 Q4 50 7,8,12,22,24,25,32,35,49,51,81,87, 89,90,95,111,112,114,116,122,126, 128,131,133,136,138,140,141,143, 144,145,146,148,153,157,158,159, 161,164,166,168,172,174,176,178, 181,191,193,195,199 26-46 40.04 4.2.2 Relationship between institutional holdings and corporate governance: The results obtained in this regard are reported in an analytical frame in table no. 4.6 as under: Part (a) of the present study table reveals out the (%) institutional holdings along with corporate governance score for the study period 2004-08. Part (b) of the table depicts the regression parameters as regard to institutional holdings and corporate governance score Table 4.6 (a) Institutional Holdings and Corporate Governance Institutional Holdings (%) Corporate Governance Score 2004 2005 2006 2007 2008 N Average N Average N Average N Average N Average 0-10 95 47.84 84 47.44 76 46.74 72 47.06 74 47.42 10-25 64 53.50 70 52.79 62 52.21 63 51.44 60 51.53 25-50 39 56.51 42 56.43 57 56.32 60 56.37 59 55.80 Above50 02 50.50 04 56.00 05 55.00 05 52.60 07 54.43 200 200 200 200 200 Table 4.6 (b) Institutional Holdings and Corporate Governance Institutional Holdings (%) Corporate Governance Score 2004 2005 2006 2007 2008 Constant 47.18 46.98 46.64 46.64 47.05 b Value 0.43 0.43 0.43 0.43 0.40 SE 0.84 0.86 0.91 0.91 0.91 R2 0.19 0.19 0.18 0.18 0.16 t-value 6.75* 6.73* 6.63* 6.63* 6.21* D/W 1.825 .825 1.868 1.84 1.78 Predictor: Institutional Holdings; Dependent Variable: Corporate Governance Score *Significant at 5 percent level The information inputs reported in part (a) of the present table reveals out that the larger proportions of institutional holdings (to the level of 50 percent) have higher corporate governance score in sampled companies over the study period. Similarly, the smaller proportions of institutional holdings have lower governance scores in the sampled companies over the study period. The sampled companies in which institutional holdings are from 25 to 50 percent have the average corporate governance score of 56.51 points in 2004, 56.32 points in 2006 and 55.80 points in 2008. These score points are highest in all the years. Where as lower governance scores are observed for lower proportions of institutional holdings. As the sampled companies in which institutional holdings are to the level of 10 percent have poor average governance scores. They are 47.84 score points in 2004, 46.74 score points in 2006 and 47.42 score points in 2008. Similarly, the sampled companies with 10 to 25 percent i nstitutional holdings have higher corporate governance scores than the companies with lower holdings and lower governance scores than the companies with higher institutional holdings over the study period. It can be inferred from the above results that there is very strong and positive relationship between institutional holdings and Corporate Governance. The statistical significance of these findings through regression analysis is reported in the part (b) of the present table. The parameters also validate the above inference, as the degree of dependence between two variables is higher over the study period. All the values are also considered significant (a=0.05) in terms of t-value over the study period. D/W value is near 2 in all the five years indicating the regression results are reliable. 4.2.3 Relationship between mutual funds holdings and corporate governance: The results obtained in this regard are reported in an analytical frame in table no. 4.7 as under: Part (a) of the present study table reveals out the (%) mutual funds holdings along with corporate governance score for the study period 2004-08. Part (b) of the table depicts the regression parameters as regard to mutual funds holdings and corporate governance score Table 4.7 (a) MF Holdings and Corporate Governance Mutual Fund Holdings Corporate Governance Score 2004 2005 2006 2007 2008 (%) N Average N Average N Average N Average N Average 0-5 140 50.5 143 51.0 117 50.9 113 50.6 119 50.3 5-10 42 51.8 34 50.9 52 52.0 54 52.5 41 53.6 10-15 14 55.2 14 54.2 22 51.4 23 Institutional Holdings and Corporate Governance Institutional Holdings and Corporate Governance CHAPTER IV As noted earlier, the need for corporate governance arises from the potential conflicts of interest among participants (stakeholders) in corporate structure. These are often referred as agency problems arise from two main sources. First, different participants have different goals and preferences. Second, the participants have imperfect information as to each others actions, knowledge and preferences. Berle and Means (1932) addressed these conflicts by examining the separation of ownership and control. They noted that this separation, in the absence of other corporate governance mechanisms, provide executives with the ability to act in their own self-interest rather than in the interest of shareholders. However, executives activities are potentially constrained by numerous factors that constitute and influence the governance of the corporations that they manage. These factors can be thought of as either internal control mechanisms (such as the board) or external control mechanisms (s uch as the market for corporate control). An increasingly important external control mechanism affecting governance worldwide is the emergence of institutional investors as equity owners. Although institutional investors are the predominant players in some countries financial markets and are therefore important in corporate governance, yet the ownership  structures and other governance characteristics differ across markets. These differences are attributable in part to legal and regulatory systems and in part to the manner in which the markets have evolved. These characteristics will continue to vary across countries, leading to differences in the role and influences of institutional investors in corporate governance. Previous researchers have shown that because of the costs involved, only large shareholders have the incentive to provide extensive monitoring of management. Whether institutions as large shareholders should, or will, provide such monitoring depends in part on the constraints to which they are subjected, their objectives, and their preferences for liquidity. Keeping the above into consideration, it is pertinent to examine the intricacies of institutional holdings in the governance matters of Indian corporates. Many a time, institutional holdings pre-empts good corporate governance still at other times, good corporate governance endues institutional investment in the firm. The ongoing debate as to the institutional holdings and the corporate governance is very live or interactive in the academics these days too. The results of earlier studies are inconclusive as to the deterministic value of the one or the other. In the present study, Corporate Governance Score index has been developed on the basis of key characteristics of Standard and Poors Transparency and Disclosure Benchmark to rate sampled firms in terms of corporate governance. The institutional holdings in terms of equity investment has been expressed in percentages to total investment and comparatively, in terms of the relative composition of the institutional equity investment. This chapter makes a detailed analysis of the dynamics of corporate governance and the institutional holdings in the following three perspectives: 4.1) Dynamics of institutional holdings and its composition 4.2) Relationship between Institutional Holdings (explanatory variable) and the Corporate Governance (dependent variable) 4.3) Relationship between the Corporate Governance (explanatory variable) and Institutional Holdings (dependent variable) The results obtained for the sampled in this regard are reported, in an analytical frame, here as under: 4.1.1) Status of Institutional Holdings: The results obtained for sampled companies as regard to the status of institutional holdings in the sampled companies during the study period 2004-08 are summarized in table no. 4.1 given below: Table 4.1 Institutional Holdings in the Sampled Companies Institutional Holdings (%) Number of Companies 2004 N (%) 2005 N (%) 2006 N (%) 2007 N (%) 2008 N (%) Below 5 61 30.5 53 26.5 46 23.0 46 23.0 47 23.5 5-10 34 17.0 31 15.5 30 15.0 26 13.0 27 13.5 10-15 30 15.0 34 17.0 22 11.0 25 12.5 22 11.0 15-26 37 18.5 40 20.0 43 21.5 43 21.5 42 21.0 26-50 36 18.0 38 19.0 54 27.0 55 27.5 55 27.5 Above 50 02 1.0 04 2.0 05 2.5 05 2.5 07 3.5 Total 200 100 200 100 200 100 200 100 200 100 The information inputs reported in the present table reveals that the proportions of institutional holdings in the sampled companies have increased over the years. The numbers of companies with larger proportions of institutional holdings have been increasing and the numbers of companies with smaller proportions of holdings have been declining over the study period. As institutions have above 50 percent holdings in only 1 percent companies in 2004, where as in the last year of the study period, it increased to 3.5 percent. Similarly, institutions have holdings from 26 to 50 percent in 18 percent companies in 2004 that rises to 27.5 percent companies in 2008. The same trend follows for the companies in which institutions have holdings from 15 to 26 percent. The decreasing number of companies with relatively lower institutional holdings also validates it. As institutions have less than 5 percent stake in 30.5 percent companies in 2004, which reduced to only 23.5 percent companies in 2008. Similarly, institutions have holdings up to 10 percent in 17 percent companies that reduced to 13.5 percent in the last year of the study period. Thus, it is observed that institutional investors have been increasing their stake in the sampled companies over the study period. Hence, it is inferred that institutional investors have been consistently getting more interested in the sampled companies over the study period. 4.1.2 Constituents of Institutional Holdings: As noted earlier, Institutional holdings have been further classified into three categories i.e., Mutual Fund, (Banks, Financial Institutions and Insurance Companies) and Foreign Institutional Investors. The results obtained for the sampled companies as regard to the status of Mutual Funds holdings in relation to the total shareholdings and to the total institutional investors in the sampled companies during the study period 2004-08 are summarized in part (a) and part (b) of the table no. 4.2 given below: Table 4.2 (a) MF Holdings in Relation To Total Shareholdings Mutual Fund Holdings (%) Number of Companies 2004 N (%) 2005 N (%) 2006 N (%) 2007 N (%) 2008 N (%) Below 5 140 70.0 143 71.5 117 58.5 113 56.5 119 59.5 5-10 42 21.0 34 17.0 52 26.0 54 27.0 41 20.5 10-15 14 7.0 14 7.0 22 11.0 23 11.5 29 14.5 15-20 03 1.5 07 3.5 07 3.5 07 3.5 07 3.5 Above 20 01 0.5 02 1.0 02 1.0 03 1.5 04 2.0 Total 200 100 200 100 200 100 200 100 200 100 Table 4.2 (b) MF Holdings in Relation to Total Institutional Holdings Mutual Funds Holdings (%) Number of Companies 2004 N (%) 2005 N (%) 2006 N (%) 2007 N (%) 2008 N (%) 0-20 96 48.0 104 52.0 100 50.0 103 51.5 101 50.5 20-40 55 27.5 38 19.0 41 20.5 50 25.0 47 23.5 40-60 22 11.0 21 10.5 24 12.0 14 7.0 23 11.5 60-80 09 4.5 18 9.0 19 9.5 16 8.0 17 8.5 Above 80 18 9.0 19 9.5 16 8.0 17 8.5 12 6.0 Total 200 100 200 100 200 100 200 100 200 100 The information inputs reported in part (a) of the present table depict that mutual funds have increased their proportions of shareholdings in relation to the total shareholdings over the study period. The number of sampled companies with higher proportions of mutual funds holdings has been increasing over the study period. Similarly, the number of sampled companies with lower proportions of mutual funds holdings has been decreasing over the same period. As mutual funds have more than 20 percent holdings in 0.5 percent companies in 2004, which increased to 2 percent companies at the end of the study period. Similarly, Mutual Funds have holdings to the extent of 20 percent only in 1.5 percent companies in 2004 that increased to 3.5 percent companies in 2008. It is also observed that there were only 14 companies in 2004 in which mutual funds holdings were from 10 to 15 percent, which increased to more than double at the end of the study period. It is also validated by the observations of the companies in which mutual funds have lower stake. There were 70 percent companies in which mutual funds had less than 5 percent holdings and the proportion of companies with such holdings reduced to 59.5 percent in 2008. Hence, it is inferred that mutual fund companies have become more interested in the sampled companies over the study period. The information inputs reported in part (b) of the present table reveal out that there is no consistency in the investment pattern of mutual funds in the sampled companies over the study period. Mutual fund holdings in relation to total institutional holdings have remained more or less between zero and 20 percent in about 50 percent companies. On an average in 23 percent companies, mutual funds hold 20 to 40 percent shares. Mutual Funds reduced their holdings in 20 to 40 percent category in sampled companies over the study period. Where as there has not been major change in the number of companies with 40 to 60 percent mutual fund holdings. On the other hand, mutual funds have increased their stake from 60 to 80 percent in sampled companies over the study period. There are 9 companies with such holdings, which increased to 17 companies in 2008. But the number of sampled companies with mutual funds holdings more than 80 percent has gone down over the study period. As in 2004, there ar e 9 percent companies that reduced to 6 percent at the end of the study period. Hence, no inference can be drawn about the investment behaviour of mutual funds in relation to the total institutional holdings in sampled companies over the study period. The results obtained for sampled companies as regard to the status of Banks, FIs and ICs holdings in relation to the total shareholdings and total institutional holdings in the sampled companies during the study period 2004-08 are summarized in part (a) and part (b) of the table no. 4.3 given below: Table 4.3 (a) Banks, FIs and ICs Holdings in Relation To Total Shareholdings Bank, FI and IC Holdings (%) Number of Companies 2004 N (%) 2005 N (%) 2006 N (%) 2007 N (%) 2008 N (%) Below 5 127 63.5 135 67.5 142 71.0 139 69.5 141 70.5 5-10 36 18.0 28 14.0 27 13.5 34 17.0 29 14.5 10-15 19 9.5 24 12.0 19 9.5 18 9.0 18 9.0 15-20 09 4.5 08 4.0 07 3.5 04 2.0 08 4.0 Above 20 09 4.5 05 2.5 05 2.5 05 2.5 04 2.0 Total 200 100 200 100 200 100 200 100 200 100 Table 4.3 (b) Banks, FIs and ICs Holdings in Relation to Total Institutional Holdings Banks, FIs and ICs Holdings (%) Number of Companies 2004 N (%) 2005 N (%) 2006 N (%) 2007 N (%) 2008 N (%) 0-20 70 35.0 90 45.0 103 51.5 99 49.5 99 49.5 20-40 34 17.0 34 17.0 41 20.5 41 20.5 34 17.0 40-60 29 14.5 30 15.0 16 8.0 23 11.5 37 18.5 60-80 21 10.5 13 6.5 17 8.5 15 7.5 08 4.0 Above 80 46 23.0 33 16.5 23 11.5 22 11.0 22 11.0 Total 200 100 200 100 200 100 200 100 200 100 The information inputs reported in the part (a) of the present table depicts that the proportions of Banks, Financial Institutions and Insurance Companies in the sampled companies have decreased over the years. The numbers of companies with lower proportions of these holdings have been increasing and the numbers of companies with higher proportions of holdings have been decreasing over the study period. As in 63.5 percent companies, Banks and others hold less than 5 percent shares in 2004 while in 2008, 70.5 percent companies have the same holdings reflecting that over the study period, the above category of institutional investors have shown less interest in the sampled companies. Similarly, Banks and others hold up to 10 percent of total shareholdings in 36 companies which reduced to 27 in the year 2006 and finally to 29 companies in the year 2008. Likewise, the number of companies with more than 20 percent holdings has reduced from 4.5 percent in 2004 to 2 percent in 2008. Thus, i t is observed that Banks, FIs and ICs have withdrawn their substantial holdings in some companies while number of companies with marginal holdings has increased. Hence, it is inferred that Banks, FIs and ICs are getting less interested in the sampled companies over the study period. The information inputs reported in the part (b) of the present table depict the results coherent with the results shown in part (a) as Banks, Financial Institutions and Insurance Companies have decreased their holdings in relation to total institutional holdings in the sampled companies over the study period as well. They have more than 80 percent holdings in 23 percent companies in 2004 but in the last year of the study period, it was just in 11 percent companies. Similarly, these investors had 60 to 80 percent holdings in 21 companies in 2004, but in 2008, the number of companies with such holdings reduced to only 8 companies. The same is validated by the proportional increase in the number of companies with relatively lower holdings. Banks and others held to the limit of 20 percent shares in 70 companies in 2004 and in 2008, the number of companies with such holdings rose to 99. These investors have shown more interest in increasing their holdings from 40 percent to 60 percent in the sampled companies over the study period as they had such holdings in 14.5 percent companies in 2004 that increased to 18.5 percent in the last year of the study period. Thus, it is observed that the above-mentioned investors are gradually reducing their stakes to the lower levels in proportion to total institutional holdings in the sampled companies over the study period. Hence, it is inferred that Banks, FIs and ICs have been loosing interest in the sampled companies. The results obtained for sampled companies as regard to the status of FII holdings in relation to the total shareholdings and to the total institutional investors in the sampled companies during the study period 2004-08 are summarized in part (a) and part (b) of the table no. 4.4 given below: Table 4.4 (a) FII Holdings in Relation To Total Shareholdings FII Holdings (%) Number of Companies 2004 N (%) 2005 N (%) 2006 N (%) 2007 N (%) 2008 N (%) Below 5 133 66.5 114 57.0 103 51.5 100 50.0 92 46.0 5-10 29 14.5 30 15.0 24 12.0 24 12.0 36 18.0 10-15 17 8.5 22 11.0 23 11.5 23 11.5 26 13.0 15-20 09 4.5 13 6.5 15 7.5 25 12.5 18 9.0 20-26 12 6.0 21 10.5 35 17.5 28 14.0 28 14.0 Total 200 100 200 100 200 100 200 100 200 100 Table 4.4 (b) FII Holdings in Relation to Total Institutional Holdings FII Holdings (%) Number of Companies 2004 N (%) 2005 N (%) 2006 N (%) 2007 N (%) 2008 N (%) 0-20 115 57.5 83 41.5 74 37.0 69 34.5 62 31.0 20-40 20 10.0 35 17.5 33 16.5 28 14.0 39 19.5 40-60 29 14.5 36 18.0 33 16.5 34 17.0 43 21.5 60-80 23 11.5 25 12.5 35 17.5 40 20.0 33 16.5 Above 80 13 6.5 21 10.5 25 12.5 29 14.5 23 11.5 Total 200 100 200 100 200 100 200 100 200 100 The information inputs reported in the part (a) of the present table reveals that the proportions of FII holdings in relation to total shareholdings in the sampled companies have increased over the years. The numbers of companies with higher proportions of FII holdings have been increasing and the numbers of companies with smaller proportions have been decreasing over the study period. As FIIs have 20 to 26 percent holdings in only 6 percent companies in 2004, where as in the last year of the study period, it increased to 14 percent. Similarly, FIIs have holdings from 15 to 20 percent in 9 companies in 2004 that got doubled to 18 companies in 2008. The same trend follows for the companies with FII holdings from 10 to 15 percent. FIIs had such holdings in 17 companies only in 2004 but in the last year of the study period, it increased to 26 companies. The decreasing number of companies with relatively lower FII holdings also validates it. In nutshell, the FIIs have been consistently i ncreasing their stake in relation to the total shareholdings in the sampled companies over the study period. Hence, it is inferred that institutional investors have been consistently getting more interested in the sampled companies over the study period. The information inputs reported in the part (b) of the present table also depict results consistent with the results shown for part (a). The proportion of FII holdings in relation to the institutional holdings in the sampled companies has also increased over the years. As institutions had above 80 percent holdings in only 6.5 percent companies in 2004, where as in the last year of the study period, it increased to 11.5 percent companies. Similarly, FIIs had holdings from 60 to 80 percent in 23 companies in 2004 that increased to 33 companies in 2008. The same trend follows for the companies with FII holdings from 40 to 60 percent. The decreasing number of companies with relatively lower FII holdings also validates it. As FIIs have less than 20 percent stake in 57.5 percent companies in 2004 which reduced to only 31 percent companies in 2008. Hence, it is inferred that FIIs have shown more interest in the sampled companies over the study period. Resume It can be observed from the result outputs of the first section that the institutional investors have increased their proportional holdings in the companies over the years. The number of sampled companies is consistently increasing with higher institutional holdings where as the number of companies are decreasing with lower proportions of institutional holdings. The mutual fund investors have also increased their holdings in relation to the total shareholdings over the study period. The number of companies with higher mutual fund holdings has been increasing over the years. Similarly, the number of companies with lower mutual fund holdings has been decreasing over the study period. But the results of observations of mutual fund holdings in relation to total institutional holdings state otherwise. Mutual funds have increased their proportions of holdings to the total shareholdings in the sampled companies over the study period but it is not so in relation to the total institutional ho ldings. Therefore, the investment pattern of mutual funds is not clear. Where as Banks, Financial Institutions and Insurance Companies have decreased their proportional holdings in the sampled companies over the study period. There has been decline in the number of sampled companies with higher proportion of the Banks, FIs and ICs holdings. Validating the same, the numbers of companies with lower proportion of above holdings have been increasing over the study period. The results are consistent for the proportion of Banks, FIs and ICs in relation to total institutional holdings as well. To the contrary, foreign institutional investors have increased their proportional holdings in the sampled companies over the years. The number of companies is increasing with higher FII holdings and the number of companies is decreasing with lower proportion of FII holdings. The results are similar in relation to the total institutional holdings as well. Hence, at the end of the section it is inferr ed on the basis of result outputs that institutional investors in total and foreign institutional investors are getting more interested in the sampled companies over the study period. Banks, financial institutions and insurance companies are getting less interested in the same companies over the study period. And the results are inconclusive for the mutual funds. 4.2.1 Status of Corporate Governance Score in Sampled Companies: The Corporate Governance status of sampled companies is depicted in table 4.5. Total sampled of 200 companies has been divided into four quartiles of 50 companies each. The first quartile shows the company codes with highest corporate governance scores with in the range of 58 to 76 with the average score of 62.5. The second quartile shows the company codes with higher corporate governance scores with in the range of 52 to 58 with the average score of 54.3. The third quartile shows the company codes with lower corporate governance scores with in the range of 46 to 52 with the average score of 48.7. The fourth quartile shows the company codes with lowest corporate governance scores with in the range of 26 to 46 with the average score of 40.04. Table 4.5 Status of Corporate Governance in Sampled Companies Sampled Companies Number of Companies Sampled Company (Code) Range Average Governance Score Q1 50 2,5,6,11,13,15,21,26,27,28,29,37,39, 41,42,47,48,53,56,68,69,71,72,75,76,7778,79,84,86,88,91,93,96,97,98,102, 104,106,119,124,132,135,147,171,173180,189,194,198 58-76 62.5 Q2 50 10,17,18,30,31,33,34,36,38,45,46,52, 54,55,57,58,60,61,62,63,64,65,80,85, 100,101,103,108,117,118,121,125, 134,142,149,150,156,160,167,170, 175,177,179,183,184,185,186,187, 190,197 52-58 54.3 Q3 50 1,3,4,9,14,16,19,20,23,40,43,44,50, 59,66,70,73,74,82,83,92,94,99,105, 107,109,110,113,115,120,123,123, 127,129,130,137,139,151,152,154, 155,162,163,165,169,182,188,192, 196,200 46-52 48.7 Q4 50 7,8,12,22,24,25,32,35,49,51,81,87, 89,90,95,111,112,114,116,122,126, 128,131,133,136,138,140,141,143, 144,145,146,148,153,157,158,159, 161,164,166,168,172,174,176,178, 181,191,193,195,199 26-46 40.04 4.2.2 Relationship between institutional holdings and corporate governance: The results obtained in this regard are reported in an analytical frame in table no. 4.6 as under: Part (a) of the present study table reveals out the (%) institutional holdings along with corporate governance score for the study period 2004-08. Part (b) of the table depicts the regression parameters as regard to institutional holdings and corporate governance score Table 4.6 (a) Institutional Holdings and Corporate Governance Institutional Holdings (%) Corporate Governance Score 2004 2005 2006 2007 2008 N Average N Average N Average N Average N Average 0-10 95 47.84 84 47.44 76 46.74 72 47.06 74 47.42 10-25 64 53.50 70 52.79 62 52.21 63 51.44 60 51.53 25-50 39 56.51 42 56.43 57 56.32 60 56.37 59 55.80 Above50 02 50.50 04 56.00 05 55.00 05 52.60 07 54.43 200 200 200 200 200 Table 4.6 (b) Institutional Holdings and Corporate Governance Institutional Holdings (%) Corporate Governance Score 2004 2005 2006 2007 2008 Constant 47.18 46.98 46.64 46.64 47.05 b Value 0.43 0.43 0.43 0.43 0.40 SE 0.84 0.86 0.91 0.91 0.91 R2 0.19 0.19 0.18 0.18 0.16 t-value 6.75* 6.73* 6.63* 6.63* 6.21* D/W 1.825 .825 1.868 1.84 1.78 Predictor: Institutional Holdings; Dependent Variable: Corporate Governance Score *Significant at 5 percent level The information inputs reported in part (a) of the present table reveals out that the larger proportions of institutional holdings (to the level of 50 percent) have higher corporate governance score in sampled companies over the study period. Similarly, the smaller proportions of institutional holdings have lower governance scores in the sampled companies over the study period. The sampled companies in which institutional holdings are from 25 to 50 percent have the average corporate governance score of 56.51 points in 2004, 56.32 points in 2006 and 55.80 points in 2008. These score points are highest in all the years. Where as lower governance scores are observed for lower proportions of institutional holdings. As the sampled companies in which institutional holdings are to the level of 10 percent have poor average governance scores. They are 47.84 score points in 2004, 46.74 score points in 2006 and 47.42 score points in 2008. Similarly, the sampled companies with 10 to 25 percent i nstitutional holdings have higher corporate governance scores than the companies with lower holdings and lower governance scores than the companies with higher institutional holdings over the study period. It can be inferred from the above results that there is very strong and positive relationship between institutional holdings and Corporate Governance. The statistical significance of these findings through regression analysis is reported in the part (b) of the present table. The parameters also validate the above inference, as the degree of dependence between two variables is higher over the study period. All the values are also considered significant (a=0.05) in terms of t-value over the study period. D/W value is near 2 in all the five years indicating the regression results are reliable. 4.2.3 Relationship between mutual funds holdings and corporate governance: The results obtained in this regard are reported in an analytical frame in table no. 4.7 as under: Part (a) of the present study table reveals out the (%) mutual funds holdings along with corporate governance score for the study period 2004-08. Part (b) of the table depicts the regression parameters as regard to mutual funds holdings and corporate governance score Table 4.7 (a) MF Holdings and Corporate Governance Mutual Fund Holdings Corporate Governance Score 2004 2005 2006 2007 2008 (%) N Average N Average N Average N Average N Average 0-5 140 50.5 143 51.0 117 50.9 113 50.6 119 50.3 5-10 42 51.8 34 50.9 52 52.0 54 52.5 41 53.6 10-15 14 55.2 14 54.2 22 51.4 23