Lan Proposal Essays - HP LaserJet 4000 Series, Ethernet,

Lan Proposal Barrett & Barrett Advertising NJ is the newly established satellite office of Barrett & Barrett Advertising CA. Due to their increasing number of East Coast clientele, they have opened a satellite office to accommodate that business. B & B Advertising currently employs 56 people, 5 of which will transfer to the NJ office upon final renovations. Although a small outfit by number, gross sales for fiscal year 1998 exceeded $18,000,000.00. B & B CA's current computer usage is significantly high. Their need for efficient graphic capability requires them to maintain state of the art software and hardware. However B & B has stressed that user friendliness is a higher priority. B & B NJ poses the need for a small-scale local area network, to be tied into its parent company in California. The California office already has a LAN in place and operational. Their principal need for the LAN in NJ will be to transfer ad proposals to the California office and back via electronic mail. As requested by B & B, new equipment will be purchased for the NJ satellite office. In the probable event that B & B's clientele increases, all equipment will be relocated and reused, with minimal loss (i.e. cabling costs). Located on the third floor of 1113 Industry Way, its architecture presented ease for a networking situation. The office space is one floor with the dimensions of the 28 feet in width and 50 feet in length. The suite is divided into four offices (12 feet 6 inches by 15 feet 6 inches), a conference room (15 feet by 10 feet 6 inches), a LAN room (12 feet 6 inches), and a common area. All of these sub-divisions contain drop ceilings 12 feet high, which will create ease of laying network cables, as phone lines have already been laid during renovations. The floor plan attached will ease in understanding dimensions and phone/drop placement. The first step of implementing the network involves running 2 drops to each of the offices and LAN room and 1 to the conference room. The hub will be located in a small room dedicated to LAN equipment. This room was designed in that location for centrality as well as keeping the aesthetics of the suite, which was of particular concern for B & B. The entire suite will be cabled with category 5 twisted pair wire. Wall faceplates to include both drops and a phone jack will be installed in each room. As can be expected, the physical cost to install these 11 drops is minimal, the labor is the majority of this expense: Office # # of Drops $ Horizontal Run $ Vertical Run $ Total 1 2 29.77 24.64 22.41 2 2 38.23 24.64 62.87 3 2 30.67 24.64 55.31 4 2 38.59 24.64 63.23 LAN Rm. 2 27.43 0.00 27.43 Conf. Rm. 1 30.85 24.64 55.49 *Labor 11 24 hr $79/hr 1896.00 Total cost of running drops 2182.74 Fast Ethernet was the protocol of choice. The California office currently uses standard Ethernet, but is upgrading to Fast Ethernet and requested we do the same to make employee transition as simple as possible. Fast Ethernet runs at speeds of 100 Mbps. The wiring is a higher quality than the Category 3 normally used by Ethernet, therefore is a bit more expensive, but a worthy advantage. Fast Ethernet defines a star topology. There are many advantages in designing a LAN based on a star topology. It allows expansion to the existing LAN without effort or disruption. Troubleshooting, repair, and maintenance can be accomplished to a failed node without holding up or disrupting work on other nodes. Hardware plays an important role in reliability of a network. Each workstation is to be custom ordered from Dell. Each office will house a Dell computer with the following options: 400 MHz Pentium II Processor 128 MB RAM 10.6GB Hard Drive 3 COM 10/100 Combo Card DVD-ROM 8 MB Video Card 17? Monitor Internal Zip Drive In addition each office will have its own Hewlett Packard LaserJet 4000N due to heavy printing volume. The conference room will house a laptop for presentations. A laptop was chosen for this room because employees to do work at home will utilize it. The Dell Laptop will have the following options: 366 MHz Pentium II Processor 128 MB

Is The Use Of Animals For Research Purposes Justified

Is The Use Of Animals For Research Purposes Justified Ethical Issues about the Use of Animals for Experiments Animals have been in use for experimentation for a  long time especially in the medical field where it has enabled scientists to discover and gain knowledge and understanding of the biological processes as to improvement the quality of human life. Despite the wide use of animal experimentation in scientific fields, it has become an ethical issue that has pitted the pro-experimentation and against the animal rights activists that have been strongly challenging not only the legality of the continued use of animals for experiments but also the ethics behind it. This paper presents different arguments for and against the use of animals for research purposes. The population of animals has been dropping drastically worldwide in the recent times. A report by Jarrod in 2010 shows that the chimpanzees population has dropped from 2 million to just about 150,000 in the recent years. The same applies to the population of rabbits that has dropped from over 3 billion to just about 1.5 million today. The use of an animal for scientific research has been cited as a major reason for the dramatic decline in these animals population and those of other animals, such as rats, pigs, sharks, and dogs among others. In the US, animals are widely used in scientific research, especially in testing products consumed by humans, as well as the effectiveness of certain drugs. Want to learn more? Go here: Torture Is Never Justified How to Write a Case Study? The Internet Has Been Overly Commercialized Is Science Atheistic?   Legalization of Marijuana Issue Animal Testing is Required by the Law Despite the growing trend in the use of animals for scientific research, there has been a growing debate from different quarters of the American society with one side in support and the other in opposition. Supporters of the use of animals for experiments argue that the use of animals for scientific research is a good thing because it enables the scientists to discover some of the useful information about products and drugs that help in advancing the quality of life of animals and humans. Proponents of experimentation maintain that animals such as chimpanzees, mice and cows have 99.4%, 99% and 90% genes similar to those of humans respectively. As such, using these animals that have the same organs and nerve system is useful in making discoveries on things such as drugs and how effective or dangerous they can be on humans before permitting them for humans. They cite the US laws requiring that all prescription drugs be tested on animals before they can be allowed for sale in the market .   This way, any danger with the prescription drug is detected in the animals and avoided for use in the humans because the life of a human is more valuable than that of an animal. Secondly, proponents of the use of animals for experimentation argue that animals have no rights as human beings. They maintain that unlike humans that have the ability to reason, animals have no right. Therefore, animals cannot make a moral claim or defend themselves in an intelligent manner. Additionally, proponents of the use of animals for experimentation maintain that because animals do not have respect for humans rights, there is nothing wrong with using them for experimentation purposes. Experimentation Helps to Discover Medicines for Animals Thirdly, those in support of the use of animals for experimentation maintain that the use of animals for experimentation has resulted in the discovery of better veterinary medicines and improved welfare of animals. They speak about the heartworm a drug that was discovered out of research conducted on animals and has since proved useful in helping save the lives of many dogs across the globe. Besides, they cite that animal research has resulted in the better understanding of nutrition for cats and the reasons why cats live much longer than other animals and maintain good health. Additionally, proponents of the animal research argue that man has dominion over all other creatures. As such, man has control over animals and can do research with them. They cite Genesis chapter 1:28, where after God has created everything and blessed them, God instructed man to be fruitful and multiply, as well as have dominion over all animals of land, air, and sea. Testing Causes Animals Pain and Suffering Despite the strong arguments in favor of animal research, animal activists have strongly opposed the continued use of animals for scientific research arguing that it causes a lot of pain and suffering to animals. As such, because the suffering caused to animals is so high, there is no justification for the benefits to humans. Secondly, animal rights activists have strongly opposed animal experimentation arguing that there has not been any proof of the benefits to human. Jarrod 2010 research, for instance, found that the research conducted on chimpanzees in an attempt to try to discover the medication for HIV did not provide any result despite the claim that chimpanzees share about 99.4% of DNA with humans. Unlike humans, chimpanzees do not develop AIDS after getting infected with HIV. Other opponents of animal research also argue that even other animals that share similar DNA features with humans do not provide reliable test because they might not react in the same way as humans would. As such, it is wrong to continue subjecting animals to pain and suffering in the name of science. In conclusion, animal use for research is a common practice all over the world. However, this practice is raising ethical issues that need to be addressed soberly. Experiments should not be conducted in the manner that causes a lot of harm and suffering to animals.

Controlling the Cyber-conduct of Young People Essay

Controlling the Cyber-conduct of Young People - Essay Example t monitoring and controlling the cyber-conduct of young people regularly is an irrational proposition, this work claims that regular monitoring is an essential element of real-life society and that both online and offline activities of young people require regular observation and control due to various social, psychological, and biological factors. To begin with, the opposition claims that it is necessary to keep observers away from the activities of children. To illustrate, Bristow opines that â€Å"Allowing children their freedom means keeping the regulators out of what is, after all, Their Space† (par. 8). This claim highlights the fact that monitoring the activities of children online will negatively affect their freedom, and hence, development. In addition, there is the argument that restricting children’s internet access has a negative effect, as it will adversely affect their decision-making abilities. For example, Paton claims that â€Å"Restricting pupils’ access to websites may actually impair their judgment, making them more vulnerable to pedophiles on-line† (par. 1). This argument supports the view that internet observation and controlling will deter children’s ability to judge and act independently. Moreover, Bristow points out that â€Å"Just as the stranger at the swimming poo l is highly unlikely to abduct our children, mobile phones are not about to lure them into the great unknown† (par. 3). Here, the claim is that internet does not pose any more threat than real life does. In total, the opposition seems adamant on the argument that observation and control of children’s activities on the net is an irrational proposition. Firstly, young people’s brain is not fully developed to facilitate rational and cognitive thinking every time, and hence, are more vulnerable to err when there is freedom. For instance, American Psychological Association points out, â€Å"Neuropsychological research demonstrates that the adolescent brain has not reached adult

Intrinsic and extrinsic motivation Essay Example | Topics and Well Written Essays - 1500 words

Intrinsic and extrinsic motivation - Essay Example Besides, the motivation for a behavior may also be attributed to less-apparent reasons such as altruism or morality. According to Geen (1994), motivation refers to the initiation, direction, intensity and persistence of human behavior. In other words, motivation is a state of mind which is influenced by the environment, by those around and above all by us (Yates, 2002). Researchers have identified basically two kinds of motivation- the intrinsic and the extrinsic motivation. The main purpose of this paper is to compare and contrast extrinsic motivation and intrinsic motivation. Additionally it also examines the effectiveness of both types of motivation and discuss some of the personal views with respect to which process provides the most effective results and why. There are several researchers who have worked and continue to work on intrinsic and extrinsic types of motivation, and these studies have shed light on their impact on individuals on both developmental and educational practices (Ryan and Deci, 2000). In general, intrinsic motivation occurs when people are internally motivated to do something because it either brings them pleasure, they think it is important, or they feel that what they are learning is morally significant. For example, in a husband and wife relationship unless both are motivated to be faithful, happy and committed to each other or are intrinsically motivated, it is impossible for them to be happy. Another example is if a child is studying out of real interest in the subjects and his curiousness to learn about the subject, it can be said that the child is intrinsically motivated. On the other hand extrinsic motivation can be explained as if a person is motivated to take an action after gaining the knowledge of the rewards. In other words extrinsically motivated behaviors are actions that result in the accomplishment of externally administered rewards, such as pay, material possessions, status, and positive evaluations from others (Bateman and Crant, N.D.). For example, when a student is compelled to achieve distinction in his exams because of the prize announced by the teacher can be considered as extrinsic motivation. The student does not learn the subjects out of the real interest on the subjects but due to pressure. While it is debated that intrinsic motivation plays a major role in reflecting the natural human propensity to learn and assimilate, extrinsic motivation differs considerably in its relative autonomy and thus can either be a sign of external control or true self-regulation (Ryan and Deci, 2000). Motivation influences productivity, and I believe it is essential to understand what motivates people to reach peak performance. It is not an easy task to increase their motivation because they respond in different ways. Motivation among different category of people differs. For instance, a child of 2-3 years may differ from a school going child in motivation. A teenager may differ from the adult. An employee may differ from the business owner. Therefore in all these cases there are different intrinsic and extrinsic motivations and researchers have studied in depth on these issues. And most of them agree that motivation in general is something that energizes, direct, and sustains behaviors (fiu.edu, N.D.). If we take a look at the work of early researchers it can be seen that the extrinsic motivat

Pros and Cons of ARNP Independent Practice Research Paper

Pros and Cons of ARNP Independent Practice - Research Paper Example 2012). Nursing practices play a decisive role in the professional field so that the health needs of the individuals get fulfilled effectively. The ARNP Independent Practice tends to influence the nursing practice in the form of developing the nursing communities as per the desired level. Notably, this particular practice has a major influence on determining the combination of environmental health ideas and areas of varied nursing practices that significantly aid in lessening the gaps prevailing in the existing global healthcare system (Health Foundation Inc. 2012). In relation to the above context, certain advantages of a nurse practitioner owning a practice or ARNP Independent Practice become quite apparent. In this regard, one of such advantages includes providing the opportunity of specialization as well as maximizing patients’ care. Apart from this, the other advantage of ARNP Independent Practice lays in enhancing the ability of the nurse practitioners towards focusing on different interest areas including alternative therapy and women’s health among others. From the viewpoint of the nurse practitioners, it is worth mentioning that by performing the job roles as an independent healthcare provider, such healthcare professionals will avail the opportunity to work in a collaborative manner with different people. This might result in developing their skills of problem-solving, resolving any sort of conflict, dealing with unnecessary changes and executing effective strategies towards establishing a beneficial practice (Barberio, 2010). On the other hand, certain disadvantages or barriers relating to a nurse practitioner owning a practice are also quite apparent. In this regard, it can be apparently observed that experiencing excessive stress is one of the crucial factors, which restrict the nurse practitioners to own a practice,

Rural Financial Intermediation of Ghana

Rural Financial Intermediation of Ghana CHAPTER ONE INTRODUCTION 1.1 Background of the study The rural sector comprises nearly 80% of Ghanas population of 18.5 million, with rural economic activities providing employment and incomes for an estimated 60% of rural dwellers (World Bank, 2001). At the same time, nearly 30 percent of rural inhabitants live below the poverty line. However, financial services remain significantly limited at present, mainly provided by informal groups and rural banks. After relatively successful macroeconomic and financial sector reforms, the absence of strong rural and micro finance institutions have continued to impede the attainment of rapid rural economic development. Existing rural financial institutions are often community-based, with strong socio-cultural linkages. The rural banks in particular are characterized by broad-based shareholdings by community members and compared to the larger commercial banks, have a higher propensity to serve clients with low asset base, education and/or collateral, clients who otherwise would have little or no access to formal financial services. At the same time, there is an emerging network of specialized micro-financial institutions that are testing out international best practice methodologies and adapting them to Ghanaian microfinance context and situations. Given the dispersion of rural banks, the nature of community ownership, and rural client base, development of strong rural and micro finance institutions would provide a coherent framework for rural economic growth that would lead to lowered poverty rates and improved standards of living for a majority of the countrys population. Since independence the Government of Ghana (GoG) has made several attempts to promote rural development to improve the living standards of its rural people. The 1992 Constitution has made a firm commitment to rural development as part of its national strategy to improve the living conditions in rural areas through decentralization with the establishment of political and administrative regions and districts. As part of its poverty reduction strategy the Government in 2000 sought funding from the World Bank under the Rural Financial Services Project (RFSP) to promote growth and reduce poverty in Ghana by expanding the outreach of financial services in rural areas and strengthening the sustainability of the institutions providing those services. The Rural Financial Services Project Objectives The Rural Financial Services Project (RFSP) seeks to promote growth and reduce poverty in Ghana by broadening and deepening financial intermediation in rural areas through the following measures: (i) strengthening operational linkages between informal and semiformal microfinance institutions and the formal network of rural and community banks in order to expand services to a larger number of rural clients; (ii) building capacity of the rural and community banks, the principal formal financial intermediaries operating in rural areas, in order to enhance their effectiveness and the quality of services they provide; (iii) supporting the establishment of an apex structure for the rural banking system to provide the economies of scale needed for these unit rural banks to address generic constraints related to check clearing, specie supply, liquidity management and training, etc. which have impeded growth of the rural finance sector; and (iv) strengthening the institutional and policy framework for improved oversight of the rural finance sector. 1.2 Problem Statement The search for a system to tackle the financial problems of the rural dweller started as far back as the 1960s under the Nkrumah regime. During that period, the need for a veritable rural financial system in Ghana to tackle the needs of small-scale farmers, fishermen, craftsmen, market women and traders and all other micro-enterprises was felt. The need for such a system was accentuated by the fact that the bigger commercial banks could not accommodate the financial intermediation problem of the rural poor, as they did not show any interest in dealing with these small-scale operators. Governments attempt in the past to encourage commercial banks to spread their rural network and provide credit to the agricultural sector failed to achieve any significant impact. The banks were rather interested in the finance of international trade, urban commerce and industry. There was, therefore, a gap in the provision of institutional finance to the rural agricultural sector. The failure of the commercial banks to lend on an appreciable scale to the rural sector had been attributed to the lack of suitable security on the part of farmers and the high operational costs associated with small savers and borrowers. Another reason may be the centralised structure of the banking set-up, which, despite their many branches countrywide, is controlled by their Head Offices in Accra, making decentralisation ineffective. One disadvantage of this system was that a centralised institution is not able to compete with the local private money lender in local knowledge and flexibility. More important still, the branch network of many banks covered mainly the commercial and semi-urban areas and did not reach down to the rural areas. Therefore, not only were rural dwellers denied access to credit from organized institutions, they could also not avail themselves of the opportunity of safeguarding their money and other valuable property which a bank provides. It is the realization that the existing institutional credit did not favour rural development that led to the search for a credit institution devoid of the challenges /disabilities of the existing banking institutions but possessing the advantages of the non-institutional credit agencies. This institution was the rural bank. 1.3 Research Questions The study sought to answer the following research questions: i. Are there success cases in the provision of rural financial services? ii. What are the challenges faced by the implementers of the Rural Financial Service Project (RFSP)? iii. How many of the rural poor have gained access to the financial services from the Rural and Community Banks? iv. What is the impact of the Rural Financial Service Project on the performance of the Rural and Community banks and what has been the profitability levels and shareholders fund of the rural banks? 1.4 Research Objectives The primary objective of the study was to ascertain the extent to which the Rural Financial Service Project had been able to promote growth and poverty reduction by strengthening the capacity of those institutions providing financial services. Other objectives for this study are as follows: i. To identify the challenges faced by the RCBs under the RFSP. ii. To assess the impact of the project on the growth and performance of the selected RCBs in terms of profitability, shareholders funds, total assets and deposits. iii. To determine the access of rural poor to financial services. 1.5 Significance of the Study The findings of this research may inform stakeholders: Government officials, policy makers, donor agencies, the World Bank and IMF of the importance of improving and strengthening the operational efficiency of the RCBs as an important intermediary in the provision of financial services to the rural areas to aid poverty alleviation. The recommendations, it is hoped, may encourage the formulation of appropriate policies and programmes to further develop these institutions with technical and financial assistance to lead the role of improving the quality of life of the rural dwellers. Results will contribute to a better understanding of the evolving structure of rural financial services and provide an input to the financial policy made by policy makers especially Bank of Ghana. 1.6 Scope of the Study The sampling area of the study covers 127 Rural and Community Banks in Ghana out of which five selected Rural and Community Banks in the Eastern, Ashanti and Greater Accra regions under the Rural Financial Service Project were considered as the sample size. These RCBs include Bosomtwe Rural Bank, Upper Manya Krobo Rural Bank, Ga Rural Bank, Nwabiagya Rural Bank and Dangme Rural Bank. The study looked at the financial performance of the Rural and Community Banks in Ghana between the period of 2002 and 2006 and also the impact of the RFSP on the selected RCBs. Impact was measured by growth in Profitability, Total deposits, Shareholders funds and access of rural poor to financial services. 1.7 Organization of the Study In order to present a systematic and consistent research, chapter one introduces the background of the study, the problem statement, the research questions, the objectives, significance of the study, and the scope of the study. Chapter two which is the literature review which will throw more light on related studies and concepts of rural financial service project, financial intermediations in the rural areas, challenges of rural financial intermediation and traditional approach to rural finance. Chapter three deals with the methodology adopted in the collection data for the research, description of the field instrument, procedure and data analysis. Chapter four is the presentation of results, interpretation and discussion of the results. Chapter five provides a summary of the study, the conclusions, limitations and recommendations of the study. CHAPTER TWO LITERATURE REVIEW 2.1 Introduction Financial intermediation is a pervasive feature of all of the worlds economies. As Franklin Allen (2001) observed in his AFA Presidential Address, there is a widespread view that financial intermediaries can be ignored because they have no real effects. They are a veil. They do not affect asset prices or the allocation of resources. As evidence of this view, Allen pointed out that the millennium issue of the Journal of Finance contained surveys of asset pricing, continuous time finance, and corporate finance, but did not survey financial intermediation. Here we take the view that the savings-investment process, the workings of capital markets, corporate finance decisions, and consumer portfolio choices cannot be understood without studying financial intermediaries. 2.2 Importance of Financial Intermediaries Why are financial intermediaries important? One reason is that the overwhelming proportion of every dollar financed externally comes from banks. In the United States for example, 24.4% of firm investment was financed with bank loans during the 1970 1985 periods. Bank loans are the predominant source of external funding in all the countries. In none of the countries are capital markets a significant source of financing. Equity markets are insignificant. In other words, if finance department staffing reflected how firms actually finance themselves, roughly 25 percent of the faculty would be researchers in financial intermediation and the rest would study internal capital markets. As the main source of external funding, banks play important roles in corporate governance, especially during periods of firm distress and bankruptcy. The idea that banks monitor firms is one of the central explanations for the role of bank loans in corporate finance. Bank loan covenants can act as trip wires signaling to the bank that it can and should intervene into the affairs of the firm. Unlike bonds, bank loans tend not to be dispersed across many investors. This facilitates intervention and renegotiation of capital structures. Bankers are often on company boards of directors. Banks are also important in providing liquidity by, for example, backing commercial paper with loan commitments or standby letters of credit. Banking systems seem fragile. Between 1980 and 1995, thirty-five countries experienced banking crises, periods in which their banking systems essentially stopped functioning and these economies entered recessions. (See Demirg-Kunt, Detragiache, and Gupta (2000), and Caprio and Klingebiel (1996). Because bank loans are the main source of external financing for firms, if the banking system is weakened, there appear to be significant real effects (e.g., see Bernanke (1983), Gibson (1995), Peek and Rosengren (1997, 2000)). Basically, financial intermediation is the root institution in the savings-investment process. Ignoring it would seem to be done at the risk of irrelevance. So, the viewpoint of this paper is that financial intermediaries are not a veil, but rather the contrary. In this paper, we survey the results of recent academic research on financial intermediation (Gorton and Winton, 2000). 2.3 The Existence of Financial Intermediaries The most basic question with regard to financial intermediaries is: why do they exist? This question is related to the theory of the firm because a financial intermediary is a firm, perhaps a special kind of firm, but nevertheless a firm. Organization of economic activity within a firm occurs when that organizational form dominates trade in a market. In the case of the savings-investment process, households with resources to invest could go to capital markets and buy securities issued directly by firms, in which case there is no intermediation. To say the same thing in a different way, non-financial firms need not borrow from banks; they can approach investors directly in capital markets. Nevertheless, most new external finance to firms does not occur this way. Instead it occurs through bank-like intermediation, in which households buy securities issued by intermediaries who in turn invest the money by lending it to borrowers. Again the obligations of firms and the claims ultimately owned by investors are not the same securities; intermediaries transform claims. The existence of such intermediaries implies that direct contact in capital markets between households and firms is dominated. Why is this? is the central question for the theory of intermediation (Gorton and Winton, 2000). Bank-like intermediaries are pervasive, but this may not require much explanation. On the liability side, demand deposits appear to be a unique kind of security, but originally this may have been due to regulation. Today, money market mutual funds may be good substitutes for demand deposits. On the asset side, intermediaries may simply be passive portfolio managers, that is, there may be nothing special about bank loans relative to corporate bonds. This is the view articulated by Fama (1980). Similarly, Black (1975) sees nothing special about bank loans. Therefore, we begin with an overview of the empirical evidence, which suggests that there is indeed something that needs explanation. 2.4 Empirical Evidence on Bank Uniqueness What do banks do that cannot be accomplished in the capital markets through direct contracting between investors and firms? There is empirical evidence that banks are special. Some of this evidence also attempt to discriminate between some of the explanations for the existence of financial intermediaries discussed below. To determine whether bank assets or liabilities are special relative to alternatives, Fama (1985) and James (1987) examine the incidence of the implicit tax due to reserve requirements. Their argument is as follows: Over time, U.S. banks have been required to hold reserves against various kinds of liabilities. In particular, if banks must hold reserves against the issuance of certificates of deposit (CDs), then for each dollar of CDs issued, the bank can invest less than a dollar. The reserve requirement acts like a tax. Therefore in the absence of any special service provided by bank assets or bank liabilities, bank CDs should be eliminated by non-bank alternatives. This is because either bank borrowers or bank depositors must bear the tax. Since CDs have not been eliminated, some party involved with the bank is willing to bear the tax. Who is this party? Fama finds no significant difference between the yields on CDs and the yields on commercial paper and bankers acceptances. CD holders do not bear the reserve requirement tax and he therefore concludes that bank loans are special. James revisits the issue and looks at yield changes around changes in reserve requirements and reaches the same conclusion as Fama. Another kind of evidence comes from event studies of the announcement of loan agreements between firms and banks. Studying a sample of 207 announcements of new agreements and renewals of existing agreements, James (1987) finds a significantly positive announcement effect. These contrasts with non-positive responses to the announcements of other types of securities being issued in capital markets (see James 1987) for the references to the other studies). Mikkelson and Partch (1986) also look at the abnormal returns around the announcements of different type of security offerings and also find a positive respons e to bank loans. Tables 12 provide a summary of the basic set of results. There are two main conclusions to be drawn. First, bank loans are the only instance where there is a significant positive abnormal return upon announcement. Second, equity and equity-related instruments have significantly negative abnormal returns. James (1987) concludes, banks provide some special service not available from other lenders (p. 234). 2.5 Mechanisms to Improve Financial Intermediation Recent developments in growth theory have stimulated renewed interest in the interactions of financial intermediation and growth. While most of the existing literature analyses the risk- sharing function of financial intermediaries, Raju Jan Singh, 1997 focused on the asset-valuation activity of banks. Following the early contributions of Goldsmith (1969), McKinnon (1973) and Shaw (1973), a general equilibrium endogenous growth model is presented, in which financial intermediaries increase the amount of accumulated capital, improve the mobilization of savings and enhance the efficiency of resource allocation. As in Greenwood and Jovanovic (1990) and King and Levine (1993b), banks are shown to be able to improve their lending efficiency by evaluating projects. Unlike the models presented by these authors, the banks evaluation capacity is not assumed to be exogenous. The ability of banks to gather the information needed to undertake this evaluation is linked to proximity, and the notion of geography may thereby be introduced. A link between proximity and faster growth rates can thus be shown, consistent with the observations of historians such as Cameron (1967). Furthermore, Singh, 1997 showed that a bank can improve the efficiency of its lending by opening branches. A poor branch network would thus affect negatively the economic growth rate, as Cameron (1967) suggests in the case of France in the 19th century. By contrast, relaxing regulations limiting the setting up of branches would promote faster growth, as Jayaratne and Strahan (1996) observe in the case of the United States. The size of the financial sector is therefore not the only important variable; its structure and the distribution of its deposits matter likewise. The model presented by Raju Jan Singh, 1997 could be extended in various ways. The contract offered by the bank to its potential borrowers could be enriched by the inclusion of other variables besides the interest rate. For instance, collateral requirements might be considered. Cash-flow or corporate net wealth could also be introduced as additional sources of information for banks. In this context, the proportion of entrepreneurs being evaluated might appear to be dependent on the size of the latter only, and not only on the proximity of a bank branch. 2.6 Effect of Financial Intermediaries The finance-growth nexus can be theoretically postulated only within the endogenous growth framework. Financial intermediation, by reducing information and transaction costs, can affect economic growth through two channels; productivity and capital formation. With regard to the first channel, it is generally argued that financial intermediaries by facilitating risk management, identifying promising projects, monitoring management, and facilitating the exchange of goods and services, can promote efficient capital allocation leading to a total factor productivity improvement (Levine, 1997). For example, Greenwood and Jovanovic (1990) shows that financial intermediation provides a vehicle for diversifying and sharing risks, inducing capital allocation shift toward risky but high expected return projects. This shift then spurs productivity improvement and economic growth. Diamond and Dybvig (1983) argues that households facing liquidity risks prefer liquid but low-yield projects to illiquid but high-yield ones, while financial intermediaries, through pooling the idiosyncratic liquidity risks, would like to invest a generous portion of their funds into illiquid but more profitable projects. Bencivenga and Smith (1991) argue that financial inte rmediaries by eliminating liquidity risks, channel households financial savings into illiquid but high-return projects and avoid the premature liquidation of profitable investments which favours efficient use of capital and promotes economic growth. The impact of financial intermediation on growth through the second channel-capital formation-is ambiguous. Tsuru (2000) argues that financial intermediation could affect the savings rate, and then capital formation and growth, through its impact on four different factors: idiosyncratic risks, rate-of-return risks, interest rates and liquidity constraints. By reducing idiosyncratic risks and relaxing liquidity constraints, financial intermediation might lower the savings rate and negatively affect growth. By reducing the rate-of-return risks through portfolio diversification, financial intermediation might negatively or positively influence the savings rate, depending on the risk aversion coefficient (Levhari and Srinivasan, 1969). Finally, the development of financial intermediation might raise the rate of return for households savings, which also has an ambiguous effect on the savings rate due to well-known income and substitution effects. In addition, financial intermediaries effi ciency amelioration could cut the financial resources absorbed by themselves, and raise the portion of households savings converted into productive investment which favors capital formation and growth. In conclusion, the theoretical literature shows that the development of financial intermediation affects economic growth mainly through its impact on the efficiency of capital use and the improvement of total factor productivity, while its growth effect through the savings rate and capital formation is theoretically ambiguous. 2.7 Introduction to Rural Financial Services Rural financial services refer to all financial services extended to agricultural and non-agricultural activities in rural areas; these services include money deposit/savings, loans, money transfer, safe deposit and insurance. Demanders/beneficiaries of rural financial services are mainly households, producers, input stockists/suppliers, traders, agro-processors and service providers. Rural financial services help the poor and low income households increase their incomes and build the assets that allow them to mitigate risk, smoothen consumption, plan for future, increase food consumption, invest in education and other lifecycle needs. These needs can be broadly categorized into working capital, fixed asset financing, income smoothing and life cycle events. Access to credit and financial services have the potential to make a difference between grinding poverty and economically secure life. Inspite of the importance of a savings account, 77 percent of Kenyan households have no access to a bank account (Kodhek, 2003). In the late 1990s, most mainstream commercial banks closed down some rural branches in order to cut costs and improve profits. The non-traditional financial institutions have emerged to fill the gap created by the mainstream banks which locked out low income and irregular earners. 2.8 Financial Intermediation in Rural Areas Financial intermediation is crucial for the development of rural villages. If these intermediations are used properly, they can help the rural residents increase their income. Likewise, banks and financial intermediaries may be able to recover expenses and make a profit by attracting deposits and granting rural loans. Several reasons are given in favour of financial intermediation. It is argued that rural financial markets (RFMs) reduce the cost of exchanging real resources. Financial intermediations also enhance a more efficient resource allocation. Firms and individuals may have different investment and consumption alternatives. Thus, some of them want to save at the time others plan to invest. Banks satisfy both desires. In addition, financial intermediation causes gains in risk management. Rural producers are typically subject to large variations in income and expenditure. Rural production heavily depends on the weather and price fluctuations. For example, expenditures may be hea vy at planting periods while income is realized with harvest. Therefore loans and savings are important and inexpensive ways to manage at least part of households risks. Moreover, financial intermediation may allow a farmer to undertake larger investments. For instance, a loan may permit a rural producer to buy a tractor before being able to save enough money to buy one with cash. Likewise financial intermediaries can benefit large number of households by accepting their short term deposits and providing a fewer borrowers with longer-term loans. In fact, savers, borrowers and intermediaries gain from this transformation of term structures that take place through intermediation. In addition financial intermediaries that deal with borrowers as savers reduce the information asymmetry characteristic of RFMs. By observing the savings patterns of customers, they obtain information about the income and wealth of clients. By that banks are better able to assess the quality of borrowers and reduce default risk. The drawback is that there is a general tendency for governments in less developed countries (LDCs) to interfere in RFMs. Thus few observers of formal RFMs in LDCs are satisfied with their recent performance. Markets are highly fragmented; they provide little services to rural residents; political interest interferes with RFMs operations; and official lenders are frequently on the edge of bankruptcy. RFMs in LDCs do not work like the classic competitive markets. On the contrary, some imperfections are characteristic of rural banks. These imperfections lead to a variety of problems. For example, the available information is imperfect or asymmetric. These are classic problems of RFMs. Borrowers differ in the likelihood of default. However, it is costly to determine the risk of default of each borrower. This problem is conventionally known as the screening problem or sometimes it is called the adverse selection problem (see Srinivasan, 1994, p. 15). Moreover, it is also costly to ensure that borrowers take actions that facilitate repayment. This situation is known in the related literature as the incentive problem or moral hazard problem. This problem turns out to be particularly severe when rural banks lend money at concessionary interest rates. That is the way most governments run credit programmes. If a farmer receives cheap money he will not display enough effort to ensure repayment. For instance, in the presence of high interest rates, borrowers may select investment projects that have higher potential pay-offs but a greater risk. These sort of economic activities (investments) require more effort from the borrower to be successful. Finally, it is also costly to enforce the credit contracts. This factor gives rise to the enforcement problem of rural financial markets. There is very little or no penalty in default cases in rural areas of LDCs. Therefore, seldom are the borrowers expected to be sanctioned for loan delinquency. Often it is found that some rural borrowers may be able but unwilling to repay. In addition, in many LDCs property rights are poorly defined so that actions against collateralized assets are ineffective. Governments of many LDCs often, for political reasons, engage in credit relaxation programmes, which diminish borrowers incentive to make their projects successful. Therefore, it is not surprising that government-run credit suffers from a tremendous default problem. The final result is that RFMs have not developed as real and effective capital markets. In the absence of capital markets, individuals turn to moneylenders. The common belief is that moneylenders charge monopoly interest rates, which capture borrowers returns from credit. To overcome those problems innovative credit policy interventions are required. Some few new financial institutions are now being successful to combat market imperfections. Among such institutions are the Grameen Bank of Bangladesh and some of its replications. For instance, group lending allows the financial institutions to transfer risk and transactions costs to credit recipients. It also permits some banking firms to monitor borrowers with other borrowers. 2.9 Current evidence: what we know 2.9.1 Challenges to Rural Financial Intermediation Hoff and Stiglitz (1990) and Besley (1994) have identified three major constraints to financial market development: information asymmetries between market participants; lack of suitable collateral; and high transaction costs. Risk related to agriculture, and to government and donor policies towards agriculture, should be added as a fourth major constraint to rural finance counting for the poor. Demirguc-Kunt and Levine (2004) noted that efficient contract enforcement, related to a supportive legal framework and robust internal operating systems in formal financial intermediaries (FFIs) is very important in the development of the financial sector and the economy as a whole. Constraints to the development of rural financial markets are discussed in more detail below. 2.9.1.1 Information Asymmetry This occurs when borrowers have more information about the out-turn of their investment and greater capacity to repay loans than lenders (Stiglitz and Weiss, 1981). FFIs usually attempt to reduce this problem by screening out high-risk borrowers from their track record (including credit performance, transactions on deposit accounts, cash flow statements and other accounts). However, in the case of most rural customers, this is not possible, because many keep no record of their transactions and/or do not use payment facilities of banks. In addition, access to borrower information is impeded by a lack of efficient transport, communications infrastructure and well-functioning asset registries and databases. 2.9.1.2 Risk High, and often covariant, risks in the rural economy are related to the dominance of agriculture, which accounts for a high percentage of Gross Domestic Product (GDP) (one third in the case of Africa) and employment (two-thirds in Africa) (UNDP Human Development Report, 2000). The long gestation period for many agricultural investments and the seasonality of output usually lead to uneven cash flow and variable demand for savings and credit. Agricultural production is largely dependent on the weather and the use of productivity-enhancing inputs is very low (both leading to yield or production risk), especially in sub-Saharan Africa where the average consumption of fertilizer is only 1015 kg per hectare, compared to about four times that on the Indian sub-continent (Pinstrup- Andersen et al., 1999). African yields are therefore very low and have risen only slightly since the 1980s (Badiane et al., 1997). Lack of credit is a major factor limiting the ability of smallholders to procure a

Johann Sebastian Bach Essay -- essays research papers fc

Johann Sebastian Bach was born into a musically gifted family and was devoted to music throughput his childhood and adult years. He was taught by his father and later by his brother Johann Christoph, and was a boy soprano in Luneberg. His education was acquired largely through independent studies. In 1703 he became a violinist in the private orchestra of the prince of Weimar but left within a year to become an organist at Arnstadt. Bach went to Muhlhausen as an organist in 1707. There he married his cousin Maria Barbara Bach; together they had seven children. In 1708 he was made court organist and chamber musician at Weimar, and in 1714 he became concertmaster. In 1720 Bach’s wife died, and in 1721 he married Anna Magdalena Wulken, a woman of considerable musical cultivation; they had 13 children. In 1723 he took the important post of music director of the church of St. Thomas, Leipzig, and of its choir school; he remained in Leipzig until his death. In all his positions as choir director, Bach composed religious cantatas: a total of some 300, of which nearly 200 are in existence. Actually I think my church may have used one or more Bach’s cantatas recently. There are also over 30 secular cantatas. The bulk of his work is religious: he made four-part settings of 371 Lutheran chorales, also using many of them as the bases of organ preludes and choral works. He also composed an astonishing number of instrumental works, many of them designed for the instruction of his students. In his instrumental and choral works he perfected the art of polyphony, putting two melodies together unexpectedly, displaying an unmatched combination of inventiveness and control in his great, striding fugues. At Kothen he concentrated on instrumental compositions, especially keyboard works: the Chromatic Fantasy and Fugue; the English Suites; the French Suites; the Two-Part and Three-Part Inventions, written to teach his son Wilhelm Friedemann; and Book I of the celebrated Well-Tempered Clavier. He also wrote several unaccompanied violin sonatas and cello suites, and the Brandenburg Concertos, recognized as the best concerti grossi ever composed. The St. John Passion was performed (1723) at Leipzig when Bach was a candidate for musical director at St. Thomas. His Magnificat was presented shortly after he assumed that post. Many more of his superb religious compositions followed: the ... ...ually taking on speed. She softly whispers her secrets to the flowers and they blossom excitedly as if begging to hear more. Mother Nature blows a kiss to her charges and the breeze from that kiss flows like water through the trees, flowers, and grass to spread the spring across the land. Again it is a beautiful piece, and one that will bring piece and serenity, and even a springtime beauty to almost anyone’s home. In listening to these pieces I have decided to listen intently to more of Bach’s music. I never thought of Bach as anything more than a composer that I was going to have to learn about until now. His music touches me and even brings a smile to my face when I hear it. I now know the composer that will softly lull my children to sleep at night when they have trouble sleeping. I even listen to Bach in the morning, as his music gives a calm, and somehow more beautiful start to my day. Works Cited †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  http://reference.allrefer.com/encyclopedia/B/Bach-JS.html   Ã‚  Ã‚  Ã‚  Ã‚  Johann Sebastian Bach Reference Music: History, Composers, And Performers,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Biographies 3/15/04

The Dangers of Dengue Fever and How to Keep You

A very good morning to the principal, teachers and fellow friends. I am Samuel Lim, the president of the English Club and it is my honor to be able to stand before everyone to give a speech on ‘The Dangers of Dengue Fever and How to Keep You Compound Dengue Free’. Dengue is the most common viral illness around the world caused by a small mosquito. Regrettably, it can lead to serious medical problems like dengue. To make the picture clearer, dengue fever is not caused by every mosquito. In fact, it is caused by the Aedes aegypti mosquito which carries a deadly virus. An infected person might have a high chance of developing high fever, rashes, feel nausea and experience muscle and joint pains. It is no joking matter when a person becomes infected as the symptoms may last between six to seven days. To make things worse, it may become fatal and cost you your life. Very often, an infected person is admitted into the hospital for immediate medical treatment. As the saying goes, ‘Prevention Is Better than Cure’, dengue can be prevented in your neighbourhood just by following a few simple precautions. On the very top of the list, make sure that the flower pots in your garden or compound do not contain stagnant water. Mosquitoes breed in stagnant water in just a matter of three weeks. The next thing to pay attention to is to clear clogged drains and rain gutters in your homes. Remember to turn empty pots and pails upside down so that they do not collect rainwater for these tiny vectors to breed. Another important step is to check your compound to make sure that there is no stagnant water. Last but not least, trim tall plants frequently and ensure that dead leaves and branches are cleared. These can also become potential breeding grounds for Aedes mosquitoes. In a nutshell, dengue is a dangerous disease which can rob you of your life but can be easily prevented by following a few simple steps. I hope that the information I have shared with everyone today can reduce.

Martin Luther King And Malcolm X Two Men Vying For Essays

Martin Luther King And Malcolm X Two Men Vying For Essays Martin Luther King And Malcolm X Two Men Vying For The Same Outcome Martin Luther King and Malcolm X two men vying for the same outcome but each at opposite sides of the spectrum. King was raised in a comfortable middle-class family where education was stressed. On the other hand, Malcolm X came from an underprivileged home. He was a self-taught man who received little schooling and rose to greatness on his own intelligence and determination. Martin Luther King was born into a family whose name in Atlanta was well established. Despite segregation, Martin Luther King's parents ensured that their child was secure and happy. Malcolm X was born on May 19, 1925 and was raised in a completely different atmosphere than King, an atmosphere of fear and anger where the seeds of bitterness were planted. The burning of his house by the Ku Klux Klan resulted in the murder of his father. His mother later suffered a nervous breakdown and his family was split up. He was haunted by this early nightmare for most of his life. From then on, he was driven by hatred and a desire for revenge. Each mans childhood upbringing I believe was responsible for their later assault on Civil Rights Both men ultimately became towering icons of contemporary African-American culture and had a great influence on black Americans. However, King had a more positive attitude than Malcolm X, believing that through peaceful demonstrations and arguments, blacks will be able to someday procure full equality with whites. Malcolm X's despair about life was reflected in his angry, pessimistic belief that equality is impossible because whites have no moral conscience. King basically adopted on an intergrationalist philosophy, whereby he felt that blacks and whites should be united and live together in peace. Malcolm X, however, promoted nationalist and separatist doctrines. For most of his life, he believed that only through revolution and force could blacks attain their rightful place in society. Both X and King spread their message through powerful, hard-hitting speeches. Nevertheless, their intentions were delivered in different styles and purposes. King was basically a peaceful leader who urged non-violence to his followers. He traveled about the country giving speeches that inspired black and white listeners to work together for racial harmony. (pg. 135, Martin Luther King Jr. and the Freedom Movement) Malcolm X, for the most part, believed that non-violence and integration was a trick by the whites to keep blacks in their places. He was furious at white racism and encouraged his followers through his speeches to rise up and protest against their white enemies. After Malcolm X broke away from Elijah Mohammed, this change is reflected in his more moderate speeches. Malcolm X and Martin Luther King's childhood's had powerful influences on the men and their speeches. Malcolm X was brought up in an atmosphere of violence. During his childhood, Malcolm X suffered not only from abuse by whites, but also from domestic violence. His father beat his mother and both of them abused their children. His mother was forced to raise eight children during the depression. After his mother had a mental breakdown, the children were all placed in foster homes. Malcolm X's resentment was increased as he suffered through the ravages of integrated schooling. Although an intelligent student who shared the dream of being a lawyer with Martin Luther King, Malcolm X's anger and disillusionment caused him to drop out of school. He started to use cocaine and set up a burglary ring to support his expensive habit. Malcolm X's hostility and promotion of violence as a way of getting change was well established in his childhood. Martin Luther King lived in an entirely different environment. He was a smart student and skipped two grades before entering an ivy league college at only the age of 15. He was the class valedictorian with an A average. King paraded his graduation present in a new green Chevrolet before his fellow graduates. He was raised in the perfect environment where dreams and love were generated. King and X's childhood's are a study in polarity. (pg. 254, Reflecting Black) Whereas, Malcolm X was raised in nightmarish conditions. King's home was almost dream-like. He was raised

buy custom Euthanasia essay

buy custom Euthanasia essay Euthanasia refers to the painless killing of an individual suffering from painful and incurable disease or in a coma that is not reversible. This practice is illegal in a number of countries and legal in a few countries because of various reasons. Therefore, legalization of euthanasia is a debatable topic. Some ethical theories such as utilitarianism are significant in explaining the morality of euthanasia. Utilitarianism is an ethical theory, which holds that the proper course of an action is the one that brings about overall happiness. This discussion will consider how utilitarianism would look at the morality of euthanasia in various situations. Utilitarianism, as an ethical theory, is extremely significant in explaining why people should permit euthanasia or why euthanasia is an unethical practice, depending on the current situation. According to utilitarianism, when an individual undergoes tremendous pain and misery, it is morally right to execute euthanasia in order to relief the suffering person. If an individual prefers to die than continue to suffer from pain and misery, it is their own decision, and the government should not interfere. On the other hand, utilitarianism can consider euthanasia as an unethical action. This happens when people use euthanasia abusively. Sick individuals might feel pressured into agreeing to euthanasia by doctors who want to use medical resources for other patients, or by close family members who do not want to continue incurring medical costs. This is involuntary euthanasia, and according to utilitarianism, involuntary euthanasia is an immoral action. Patients who experience involuntary e uthanasia die unhappily. Therefore, according to utilitarianism, euthanasia can be a moral or immoral action depending on the situation in which it happens. For instance, voluntary euthanasia is a moral action because the patient desires to discontinue misery and pain while involuntary euthanasia is immoral because the patient wants to continue living. Utilitarianism is a significant ethical theory that explains the morality and immorality of euthanasia. Buy custom Euthanasia essay

Emergency Services Management - Advanced Interactions of Hazardous Essay

Emergency Services Management - Advanced Interactions of Hazardous Materials - - Essay Example According to Spellman (2007), risk mitigation involves plans to curb hazards from occurring or to prevent them from developing into unmanageable disasters in case they occur. More importantly, it focuses on long-lasting solutions aimed at reducing or eliminating risks. Besides mitigation, there are standardized instructions for untrained first respondent on how to carry out an emergency operation. As one of the resourceful tool of information, Emergency Response Guidebook (ERG) provides guidance to the HAZMAT personnel on how to manage accidents involving hazardous materials such as chlorine explosion during road or rail transport. Therefore, this discussion explores how reliable is the ERG in dealing with a hazardous substance release on an accident scene. However, other sources of information such as Safety Data Sheets (SDS) and submitted Tier II information can also be used. ERG provides explicit instructions on how to approach the scene of the incident. For instance, the response team should approach the scene from upstream and upwind since the wind blows away gases and fumes. Such kind of approach, therefore, enables them to move close enough before coming in direct contact with the released substance. On getting to the scene, they are required to make an assessment and look out for any signs of fire, leakage, or any person in danger. It will enable them to determine if there is a need for evacuation, as well as the resources needed for the entire operation. The response team would then secure the location and isolate it so as to restrict entry and reduce exposure to the hazards. Identifying the name and nature of the hazardous material is necessary so that you know what to expect and the protective measures to be taken. Shipping name of the material can be found in the shipping documents that are available in the cab of the vehicle or possession of a train crew member. Identification number of the substance can be

The Movie A Few good men Paper Term Example | Topics and Well Written Essays - 1750 words

The Movie A Few good men - Term Paper Example Two marines—Private First Class Louden Downey and Lance Corporal Harold Dawson are court-martialed under the accusation of murdering Private First Class William Santiago, A fellow marine assigned in their unit at Guantanamo Bay Naval Base in Cuba. Their defense lawyers are Lieutenant Junior Grade Daniel Kaffee, an inexperienced US Navy Lawyer who is notorious for arranging plea bargains rather than pursuing trials in courts regardless for the mere practicality of it; and Lieutenant Commander Joanne Galloway who believed that her clients are innocents and would known no bounds in pursuing her case and to prove her clients’ innocence (Reiner, 1992). In the course of their investigation, Galloway and Kaffee uncovered the real culture that is happening within the Guantanamo Bay Naval Base particularly the â€Å"code red†. It turned out, PFC Santiago was not able to keep up with the ‘culture’ that is being enforce by Col Jessep in his Base thus resulting to poor performance and poor relations with his other peers. He was struggling to keep up and wanted to be assigned somewhere else and went above his superior, disregarding the chain of command, for a bargain— a transfer for exposing the possibility that Dawson could have illegally fired on the Cuban side of the island. This have irked Jessep and prompted him to order Dawson and Downey to carry a code red against Santiago. In the end, Kaffee was able to pop out the truth from Jessep and proved the innocence of the two accused soldiers. However, they were still dishonorably discharged from the Marine Corps for causing Santiago’s death (Reiner, 1992 ). Effective leadership is the art of influencing others. Influence is the â€Å"ability to persuade, convince, motivate, inspire, and judiciously use power to affect others†¦Ã¢â‚¬  it is the ability to influence in both the good and bad circumstances (Klann, 2003). From what Klann had emphasized, it is