Heart of Man

THE HEART OF MAN OR THE SPIRITUAL HEART MIRROR (An Allegorical Representation in Ten Pictures) This booklet began in France in 1732, was changed and re-composed for the mission fields of Africa by Rev. J. R. Gschwend in 1929, and has hence been deciphered and printed under copyright in more than 250 indigenous dialects by All Nations Gospel Publishers who are disseminating it today in 127 crucial everything being equal, classes and religions are being driven by this booklet to encounter the profound otherworldly truth and centrality of God's message to humanity as communicated by the prophet Ezekiel 586 years before Christ, â€Å"I will give you a new heart and another brain †¦ then you will be my kin, and I will be your God! † Ezekiel 36:26-28. THE HEART OF MAN THE TEMPLE OF GOD OR THE WORKSHOP OF SATAN 1 John 3:4-10 As you read this book, if it's not too much trouble remember that it resembles a mirror wherein you will have the option to see yourself.Whether you are a p agan or a Christian, one who doesn't put stock in Christ or a faith deserter, you will consider yourself to be God sees you. â€Å"Man takes a gander at the outward appearance, yet I take a gander at the heart† (1 Sam. 16:7). God considers us to be we truly are. Satan is the dad everything being equal. He is the sovereign of obscurity and divine force of this world, who masks himself as a blessed messenger of light to lead people the incorrect way. In nowadays, as in times past, there are numerous bogus messengers who camouflage themselves, professing to be missionaries of Christ. What's more, no big surprise, for Satan himself is changed (masked) into a holy messenger of light (2 Cor. 1:13, 14). Satan, the divine force of this world, keeps individuals in obscurity with the goal that they can't see that God cherishes them or that Jesus kicked the bucket to spare them (2 Cor. 4:4). All heathens and the individuals who don't accept are profoundly dead and visually impaired conc erning God. They are controlled by the malice of this world (Eph. 2:1-2). Except if their eyes are opened somehow or another to their lost condition, they are setting out toward interminable obliteration. The individual who says, â€Å"I have never sinned† is beguiling himself. For â€Å"The Son of God showed up for this very explanation, to wreck what the fallen angel had done† (1 John 3:8). â€Å"So at that point, submit to God.Resist the fallen angel, and he will flee from you. Draw close to God, and He will draw close to you† (James 4:7, 8). As you read this book and study its photos, you will have the option to see your own heart. Permit God's searchlight to show you the state of your heart. Recognize your transgressions and don't deny their reality, for God's Word discloses to us that â€Å"If we state that we have no wrongdoing, we mislead ourselves, and there is no fact in us. Be that as it may, in the event that we admit our transgressions to God, He w ill stay faithful to His commitment and do what is 3  © Copyright by: ALL NATIONS GOSPEL PUBLISHERS P. O. Box 2191, PRETORIA, 0001, SOUTH AFRICA REG.No. 61/01798/08 ISBN 0-908412-16-9 right: He will pardon us our transgressions and sanitize us from all our wrongdoing† (1 John 1:1-10). â€Å"The blood of JESUS, His Son, decontaminates us from each transgression. † . You are controlled either by Satan or by God; you are a captive to sin or a hireling of God. On the off chance that wrongdoing controls your life, don't deny it, yet shout out to God. He will liberate you through Jesus Christ who resulted in these present circumstances world to spare delinquents, to break the intensity of Satan and sin over us, He is our Savior. You are within the sight of a blessed God who knows all the insider facts, the concealed contemplations and activities of your life.It is difficult to conceal yourself and activities from God, for â€Å"God made our ears †wouldn't he be able t o hear? He made our eyes †wouldn't he be able to see? † (Ps. 94:9). â€Å"The Lord oversees the entire world, to invigorate those whose hearts are faithful to Him† (2 Chron. 16:9). â€Å"He observes each progression men take. There is no murkiness sufficiently dull to conceal a miscreant from God† (Job 34:21, 22). â€Å"But Jesus didn't confide in Himself to them, since He knew them all† (John 2:24). In this manner â€Å"happy are those whose transgressions are excused, whose wrongs are absolved. Cheerful is the man whom the Lord doesn't blame for fouling up and who is liberated from all deceit† (Matt. 1:28-30). Clarification of the Pictures THE FIRST PICTURE This image shows the core of a common, corrupt man or lady, portrayed in the Bible as a miscreant, that is, one who is constrained by the underhandedness of this world and by the characteristic wants and desires of the human instinct. This is a genuine image of the heart from God's perspec tive. The blurred, red eyes talk about intoxication as depicted in Proverbs 23:29-33: â€Å"Show me somebody who drinks excessively, who needs to evaluate some new beverage, and I will give you somebody hopeless and sorry for himself, continually raising a ruckus and consistently complaining.His eyes are ragged looking, and he has wounds that could have been maintained a strategic distance from. Try not to let wine entice you, despite the fact that it is rich red, however it shimmers in the cup, and it goes down easily. The following morning you will feel as though you have been chomped by a toxic snake. Abnormal sights will show up before your eyes, and you won't have the option to think or talk unmistakably. † Below the head in this image, the core of man can be seen involved by different creatures which discuss the a wide range of sins in the human heart, as the heart is the middle and rearing spot of our sins.God lets us know by the mouth of His prophet Jeremiah, that â⠂¬Å"Nobody can comprehend the human heart. There is nothing else so misleading: it is too debilitated to even think about being healed† (Jeremiah 17:9). Jesus Himself affirms this by saying, â€Å"For from within, from an individual's heart, come the malicious thoughts which lead him to do indecent things; to ransack, execute, submit infidelity, be voracious, and do a wide range of abhorrence things; trickery, foulness, desire, defamation, pride, and imprudence †all these abhorrent things originate from inside an individual and make him unclean† (Mark 7:21-23). 1.THE PEACOCK While the excellence of the peacock is respected by everyone, here in the core of man, it talks about the wrongdoing of pride. Lucifer, when God's exceptional heavenly attendant of light, lost his situation through pride thus turned into God's foe †the fiend (Isaiah 14:9-17; Ezekiel 28:12-17). 4 5 Pride originates from the focal point of heck, and uncovers itself from multiple points of vi ew. A few people highly esteem their wealth, their standard of instruction: in vogue garments by which they uncover their bodies in an indecent manner: the wearing of jingling decorations, arm bands, rings, and so on , with no guarantees so obviously portrayed in Isaiah 3:16-24.Some value their ancestors, nationality, culture, sport, and so forth. , overlooking that â€Å"God opposes the pleased, however demonstrates favor to the humble† (1 Peter 5:5). God loathes pride and pretentiousness (Proverbs 8:13). â€Å"Pride prompts demolition, and presumption to downfall† (Proverbs 16:18). 2. THE GOAT speaks to substantial wants, corruption, infidelity. The transgressions referenced here have expanded in these cutting edge, yet a days ago, to such a degree, that we need to concede reality of the expressions of Jesus when He anticipated, about 2000 years prior, that the most recent days will resemble the times of Sodom and Gomorrah.Not just has this corrupt method of living g rasped people and come into the homes of strict individuals and establishments, the schools and inns, yet this mischievousness boldly and in an inconspicuous manner enters the hearts of individuals by methods for films, theaters, profane writing, and from numerous points of view, that what God calls sin is being viewed as present day ethical quality. A large number of youngsters structure their concept of a perfect life from the films and books, just to wind up in a tough situation, disgrace and regret.Immoral a free living entertainers and on-screen characters become the legends and courageous women of the more youthful age. The ballrooms, as well, are all the time the reproducing spots of corruption. God's legends of virtue, similar to Joseph (Genesis 39) and others, are not, at this point taken as models. Indeed, even the old Zulu pagan, who might kill a miscreant or adulteress, could show our purported enlightened age a thing or two and face us in judgment at the day of judgment . God instructs us not to play with unethical behavior yet to keep away from it. Some other sin a man submits doesn't influence his body; yet the man who is liable of extramarital perversion sins against his own body: Don't you realize that your body is the sanctuary of the Holy Spirit, who lives in you and who was given to you by God? You don't have a place with yourselves yet to God† (1 Cor. 6:18, 19); â€Å"So on the off chance that anybody demolishes God's sanctuary, God will pulverize him. For God's sanctuary is sacred, and you yourselves are His temple† (1 Cor. 3:17). 7 1. The miscreant's heart 6 3. THE PIG talks about the transgressions of inebriation and gluttony.It is a messy creature anxiously gobbling up everything in its manner, perfect or filthy, and similarly an evil heart eats up each shameless proposal, articulation, picture, writing, and so on. The body, proposed to be the sanctuary of the living God, is made messy by unsafe food and soiled propensities , for example, the smoking or biting of tobacco, the utilization of opium and destructive medications and tablets, and so forth. The propensity for smoking tobacco and even â€Å"opium† has grasped people as at no other time. Just the intensity of God can free such poor tobacco casualties and captives of the devil.While most strictly slanted individuals would not set out to smoke in a congregation building, thinking of it as right around an affront to God, they in any case have no delay about dirtying through this smelling weed, what is really the sanctuary of God, I. e. , their bodies. â€Å"Surely you know† says the Apostle Paul, â€Å"that you are God's sanctuary and that God's Spirit lives in you! So on the off chance that anybody wrecks God's sanctuary, God will obliterate him† (1 Cor. 3:16, 17; 6:18, 19). An eager individual is contemptuous or worth nothing in seeing God. We eat so as to live; we don't live so as to eat.Hunger can be fulfilled by eating he althy food, yet ravenousness will consistently cry â€Å"Give, give! † , G

Motivation Paper †Organization Behavior Free Essays

The subject of human inspiration is very confounded for various reasons. Right off the bat, people develop more gradually than some other life forms on this planet, and for this, the persuasive propensities are gained all the more gradually as well. Also, the individual is subject to huge numbers of his essential fulfillments on others; this is shown on his/her utilization of emblematic language to impart these requirements to other people. We will compose a custom paper test on Inspiration Paper †Organization Behavior or on the other hand any comparative subject just for you Request Now Inspiration is characterized as the idea that speaks to the major impact that drives conduct and giving its bearing (Morris et al., 1999, p 284). In authoritative conduct the standards in the investigation of conduct, particularly on persuasive speculations, are applied in the work environment. Such speculations help clarify what propels individuals in their mentalities toward work, their bosses and different parts of work when all is said in done. One significant inspirational model or hypothesis all the more regularly utilized in associations and businesses is the hypothesis by Abraham Maslow. All the more conspicuously called as the progressive system of necessities, this hypothesis clarifies an individual’s needs on various levels. On the hypothesis, Maslow characterizes essential or central needs as the individual’s natural needs like appetite, thirst and rest. Maslow accepts that on this essential level lies the â€Å"evolution† of the other alleged â€Å"higher† needs. On the off chance that the lower levels are not fulfilled, the suggestions mean the individual can't or won't move onto the more elevated levels (Morris et al., 1999, p.302).â Maslow’s hypothesis turned into a remarkable one particularly in industry as a result of its humanistic attractive quality; they appeared to be huge to individuals. It explains why some work motivators are not powerful for certain individuals and circumstances. What's more, administrators in work settings can execute mediations in their work environments dependent on their comprehension of human conduct as per the chain of importance of necessities (Berry, 2002, p. 240). Figure 1.1 The accompanying pyramid chart outlines Maslow’s various leveled levels where the â€Å"more fundamental needs should be to a great extent fulfilled before higher thought processes can emerge.† Morris et al. 1999 in A.H.Maslow. Copyright Ã1954 by Harper Row. Application 4D industries’ top administration has underscored efficiency as its top need however where nature of administration and reliability to the organization are not to be undermined. Nonetheless, the organization needed an obvious methodology on how this will be completed. The administrations of OAKZ consultancy was approached to address 4D’s concerns. OAKZ consultancy drew a plan with an underlying spotlight on 4D’s authoritative staff. The justification: 4D’s regulatory staff has the immediate oversight on the company’s creation. They additionally become the top management’s reverberation or voice with respect to organization arrangements and heading; henceforth, the authoritative staff’s basic job in the deals and creation or majority workers’ yield. At the point when the staff doesn’t perform to their most extreme, this has a domino impact overall workforce. This was additionally illuminated by OAKZ’ consultancy administration. After an overview from all levels to investigate concerns or issues that plague the organization, the OD (Organization Development) expert gave the accompanying suggestions. Since 4D (populace 780 comprehensive of - rank record and center administration/regulatory staff) is very immense by provincial/region guidelines, the organization has attempted to make their mediations however much as could reasonably be expected on an aggregate way instead of on an individual set-up. Rousing the 150 authoritative staff individuals to capacity to their most extreme incorporates 1.) Looking into their status in the organization, regardless of whether what number of are trial, casuals, contractuals, and changeless,  to decide the additional motivating forces they will get; 2.) What benefits and advantages have they gotten as an aggregate gathering and as people, up until now; 3.) What structures will the motivating forces take: for example money as well as movement benefits, others; 4.) The measures that 4D will use to have the option to evaluate the impacts of the motivating forces to the individual specialists (HR Metrics). The OD specialist from OAKZ called attention to that dependent on the Maslow model (over), a supposition that is made that these staff individuals will perform better when their initial three level needs will be made sure about and this is done through the accompanying advance: the organization should begin to part with extra pay as expanded compensation equivalent to the yield (quality time, dependability, activity, disposition, and investment in gatherings and work conversations, and so on.) of staff individuals. Basic standard: This tends as per the general inclination of organic needs; Security Needs (can accommodate more than food in addition to how to make the home progressively safe etc);â and Belongingness Needs (more opportunity to appreciate fellowships since they would now be able to bear, or savages will welcome them since they are not, at this point subject to others).  The second significant component of the proposed program or plan is the turn premise (will plan) for staff individuals (could either be by twos) to go to national as well as global gatherings for proficient development as indicated by their strength or would-be claim to fame. This tends to their Esteem and Self-completion needs. Today, with the checking and direction of the OD from OAKZ consultancy, 4D enterprises have begun to actualize the drawn out program. There is high spirit in the work environment and the majority and creation individuals are affected by the infectious fearlessness of the center administration. There are bits of gossip flowing around that the following arrangement will before long incorporate their numbers. Reference: 1.  Berry, Lilly M.1997. Brain research at Work A prologue to Industrial and Organizational Psychology. second Ed. New York: McGraw Hill. 2. Morris, Charles G., and Maisto Albert A., 1999. Understanding Psychology fourth Ed. Prentice Hall. New Jersey. The most effective method to refer to Motivation Paper †Organization Behavior, Essay models

Netflix Case Study Essay

Organization Overview The thought behind Netflix, the most well known supplier of on the web and via mail rental administrations, originated from an unsatisfied, humiliated client. Reed Hastings, author and current CEO of Netflix, was charged 40$ as a late expense since he restored the film Appolo13 a month and a half late (Zarafshar, 2013). This made him ponder a plan to change the film rental model into an increasingly creative business. In 1997, Hastings and Randolph began Netflix which was a DVD rental-via mail business without any memberships. Later in 1999, and as above and beyond towards building up the business, Hastings propelled the membership based plan of action which depended distinctly on leasing DVDs via mail with numerous plans subject to the quantity of titles one after another. Netflix offered its supporters of browse its broad DVD library with in excess of 120,000 titles for boundless month to month DVD rental with free delivery just as zero late and per title rental charges. It was app ealing for clients to make memberships on the spot as they were enticed with the extraordinary Netflix administration. For instance, Blockbuster endorsers discovered Netflix’s offers all the more engaging and it was simple for them to do the switch. (Wikipedia, 2014) Netflix has been consistently open to new open doors that Hastings trusts it will support the company’s upper hand. Another open door was caught when the spilling administration was presented in January 2007 where it empowered Netflix’s supporters of immediately watch motion pictures, TV-scenes, narratives, arrangement and considerably more on web associated gadgets, for example, brilliant TVs, PCs, DVRs, Blu-Ray players and exceptional Netflix players. During that time, Netflix was standing out as it was the principal organization to offer paid streamingâ services to its supporters in US, Canada and Latin America. Today, Netflix is known as the biggest supplier of internet spilling administration with right around 44 million endorsers in excess of 40 nations offered access to an ever-developing library of thousands of titles. (Netflix PR, 2014) Netflix administrators were quick to devise adaptable methodologies joined by a productive plan of action that gave them economical upper hands over their adversaries. They continually screen their outer condition and do the necessary revisions rap idly and quickly to use the rising chances and tackle the up and coming dangers. Procedures extending from developing its library content, administration separation, extremely serious DVD-via Mail administration, extraordinary advertising plan and eager global extension all made Netflix an innovator in its industry. Be that as it may, Netflix isn’t the main player in the DVD-rental and gushing administrations showcase. Blockbuster and Redbox are one of the numerous rivals in the DVD-rental market that utilization distinctive serious models to outcompete Netflix’s. Hulu Plus, Amazon and HBO GO have energized the opposition in the gushing assistance showcase. They all contend on securing more titles to extend their libraries and attempt to offer the best membership designs so as to get more piece of the pie. Having this as a top priority, what ought to Netflix do next so as to outflank its rivals and support its upper hand. Outside Environment Analysis Large scale Environment We will begin our appraisal of the outside condition by looking at the PESTEL factors in the Macro (General) Environment of the film leasing industry. Political Factors System Neutrality is the rule that safeguards the web to stay free and open for all clients. It protects against segregation of the web utilize dependent on the substance or site administrations (Ala, 2014). Significant Internet Service Providers (ISPs) might want to charge an organization like Netflix more cash in light of the fact that it’s site of online film gushing is eating a ton of their web data transfer capacity. As indicated by the broadband network access following firm Sandvine, Netflix alone is expending 32.3% of the downstream traffic in North America, significantly more than some other site or administration. (Protalinski, 2013) Major ISPs may well consider blocking Netflix from their support of discharge such traffic or theyâ might request expanded web membership charges from Netflix to keep facilitating their site; this would be a calamity for Netflix who is confronting expanding content commitment costs and if ISPs settled on that progression, they will have no other decision other than expanding the month to month expenses of their gushing help which will not go to the joy of their clients. The entirety of this is against the Net Neutrality rule, which expresses that all web clients will be under similar conditions to get space on the net whatever their site or substance, is. â€Å"The plausibility of guidelines intended to command the impartiality of the Internet has been dependent upon savage discussion, particularly in the United States† (Internet Cleaner, 2013) In a meeting (Netflix Investor Relations, 2014), Reed Hastings says he isn't worried about the danger that ISPs may square Netflix since â€Å"it will fuel the fire for increasingly guideline and nobody is keen on this†. Ecological Factors Generally, the video rental industry was based on reusing a similar stuff by various individuals again and again and this idea is condition benevolent. Additionally, changing to the delicate duplicates of media and gushing it through the web diminishes vitality utilization and contamination levels because of a decline in conveying DVDs via mail and furthermore less assembling of DVDs. Socio-Cultural Factors Individuals are relied upon to watch motion pictures or play computer games when they have more recreation time. Anyway these days, numerous individuals are having 2 employments to help their families which essentially implies less relaxation time and less watching motion pictures. Notwithstanding that, individuals are presently turning out to be increasingly helpful watching films at their homes as opposed to going out to the auditoriums since it is less expensive, less tedious and is perfect subsequent to having a long tiring day; this rising pattern will support the volume of the spilling media memberships. Also, the fast acknowledgment of the general public for mechanical progressions incredibly benefits the online film rental industry, this is especially right because of the new instructive and academic frameworks that pressure more on PC getting the hang of making individuals progressively advantageous when managing innovation. Mechanical Factors The quick innovative headways and creation of electronic items, for example, Blu-beam DVD players, Video game consoles, advanced mobile phones, brilliant TVs and numerous different gadgets that can interface with the web, made the idea of online rental and video gushing simpler and progressively versatile. As the internet providers are turning out to be increasingly well known and a significant fixing in people’s day by day life, organizations like Netflix will have the option to expand its tasks particularly in the video gushing assistance. In this way, the headway in innovation is a chance and empowering influence for the business all in all. 4K gushing is another top notch video innovation that diminishes pressure rate and creates yield in 4K/Ultra HD position. (Consumes, 2014) Netflix began offering a portion of its substance in this organization, which flags their intend to go next to each other with mechanical headway. Obviously, to have the option to stream at this high goals, you have to have a super speed web (40-50 Mbps) so individuals currently have motivation to update and it implies more benefits to the ISPs. (Netflix Investor Relations, 2014) Monetary Factors The business relies upon the consumers’ spending force and genuine pay, which is influenced by work rate, loan fee, charge rate and swelling rate. At the point when customers have more cash, spending on amusement offices rises and this is an open door for the business. Then again, the spending intensity of family units normally decline in downturn periods, so they will most likely will in general penance the auditorium ticket and may well reward themselves with some more seasoned films accessible on gushing administrations, for example, Netflix’s. Legitimate Factors There is an extensive potential for lawful moves to be made against organizations working in this industry, activities identified with the utilization of authorized material and customers’ protection issues. In addition, any organization that works in the global market should concentrate well the standards and guidelines explicit to that advertise or, in all likelihood it will in the blink of an eye fall in a difficult situation or lose important chances. Some legitimate activities may positively affect organizations in this industry, for example, the revision of the VPPA law examined before. Then again, Netflix had some difficult situations in 2010 with claims relating to security issues when a scholastic research proposed it uncovered the film inclinations of its clients for the developers whoâ participated in the Netflix prize to deliver a superior suggestion calculation. (Buley, 2010) The issue was later settled and Netflix dropped the continuation â€Å"Netflix Prize II † rivalry. Serious Environment So as to decide nature and quality of the contender pressures in the film rental industry Netflix is working in, we use Porter’s five powers model of rivalry. Haggling Power of Customers In the gushing business sector, clients have a high bartering power; the explanation for this is individuals are all around educated about different organizations which are in a similar line of business as Netflix. Clients are consistently in scan for a superior arrangement since purchasers are extremely value delicate with regards to the video rental industry and they are continually searching for the best quality, so they will leave Netflix when a superior offer is accessible since there is no exchanging cost. Clients consistently anticipate item separation, and if Netflix doesn't give it clients this assortment, they will basically leave. Dealing Power of Suppliers Ba

How George Westinghouse Influenced Electricity

How George Westinghouse Influenced Electricity George Westinghouse was a productive designer who impacted the course of history by advancing the utilization of power for force and transportation. He empowered the development of railways through his creations. As a mechanical chief, Westinghouses effect on history is extensive he shaped and guided in excess of 60 organizations to showcase his and others creations during his lifetime. His electric organization got one of the best electric assembling associations in the U.S., and his impact abroad was confirm by the numerous organizations he established in different nations. The Early Years Conceived on October 6, 1846, in Central Bridge, New York, George Westinghouse worked in his dads shops in Schenectady where they fabricated rural hardware. He filled in as a private in the mounted force for a long time during the Civil War before ascending to Acting Third Assistant Engineer in the Navy in 1864. He went to school for just 3 months in 1865, dropping out not long after acquiring his first patent on October 31, 1865, for a rotational steam motor. Westinghouse’s Inventions Westinghouse developed an instrument to supplant crashed cargo vehicles on train tracks and began a business to make his innovation. He got a patent for one of his most significant creations, the compressed air brake, in April 1869. This gadget empowered train specialists to stop trains with safeguard exactness just because. It was inevitably received by most of the universes railways. Train mishaps had been visit before Westinghouse’s innovation since brakes must be applied physically on every vehicle by various brakemen following a sign from the specialist. Seeing potential benefit in the development, Westinghouse composed the Westinghouse Air Brake Company in July 1869, going about as its leader. He kept on making changes to his compressed air brake structure and later built up the programmed air powered brake framework and the triple valve. Westinghouse thenâ expanded into the railroad flagging industry in the United States by sorting out the Union Switch and Signal Company. His industry grewâ as he opened organizations in Europe and Canada. Devices dependent on his own creations and the licenses of others were intended to control the sped up and adaptability which was made conceivable by the innovation of the compressed air brake. Westinghouse likewise built up a mechanical assembly for the protected transmission of gaseous petrol. The Westinghouse Electric Company Westinghouse saw the potential for power at an early stage and shaped the Westinghouse Electric Company in 1884. It would later be known as the Westinghouse Electric and Manufacturing Company. He got select rights to Nikola Tesla’s licenses for a polyphase arrangement of substituting flow in 1888, convincing the creator to join the Westinghouse Electric Company. There was restriction from the general population to the improvement of exchanging flow power. Pundits, including Thomas Edison, contended that it was hazardous and a wellbeing danger. This thought was upheld when New York received the utilization of substituting current electric shock for capital violations. Resolute, Westinghouse demonstrated its reasonability by having his organization structure and give the lighting framework to the whole Columbian Exposition in Chicago in 1893. The Niagara Falls Project Westinghouses organization took on another mechanical test when it was granted an agreement with the Cataract Construction Company in 1893 to fabricate three enormous generators to saddle the vitality of the Niagara Falls. Establishment on this task started in April 1895. By November, each of the three generators were finished. Specialists at Buffalo shut the circuits that at last finished the procedure to bring power from Niagara a year later. The hydroelectric improvement of Niagara Falls by George Westinghouse in 1896 initiated the act of setting producing stations a long way from utilization focuses. The Niagara plant transmitted gigantic measures of capacity to Buffalo, more than 20 miles away. Westinghouse built up a gadget called a transformer to take care of the issue of sending power over long distances.â Westinghouse convincingly exhibited the general predominance of transmitting power with power as opposed to by mechanical methods, for example, the utilization of ropes, water driven channels, or compacted air, all of which had been proposed. He showed the transmission prevalence of exchanging current over direct current. Niagara set a contemporary standard for generator size, and it was the main huge framework providing power from one circuit for different end uses, for example, railroad, lighting, and force. The Parsons Steam Turbine Westinghouse made further mechanical history by securing selective rights to make the Parsons steam turbine in America and presenting the principal substituting current train in 1905. The main significant use of substituting current to railroad frameworks was utilized in the Manhattan Elevated rail lines in New York and later in the New York City tram framework. The principal single-stage railroad train was shown in the East Pittsburgh rail line yards in 1905. Before long, the Westinghouse Company started the errand of energizing the New York, New Haven, and Hartford Railroad with the single-stage framework between Woodlawn, New York and Stamford, Connecticut. Westinghouse’s Later Years The different Westinghouse organizations were worth about $120 million and utilized around 50,000 specialists when the new century rolled over. By 1904, Westinghouse claimed nine assembling organizations in the U.S., one in Canada, and five in Europe. At that point the money related frenzy of 1907 made Westinghouse lose control of the organizations he had established. He established his last significant task in 1910, the development of a compacted air spring for removing the stun from car riding. Be that as it may, by 1911, he had cut off all ties with his previous organizations. Spending quite a bit of his later life in broad daylight administration, Westinghouse gave indications of a heart affliction by 1913. He was requested to rest by specialists. In the wake of breaking down wellbeing and ailment limited him to a wheelchair, he kicked the bucket on March 12, 1914, with an aggregate of 361 licenses shockingly. His last patent was gotten in 1918, four years after his passing.

World Free Essays

Board of trustees on Reforms of Criminal Justice System Government of India, Ministry of Home Affairs Report VOLUME I INDIA March 2003 Committee on Reforms of Criminal Justice System Government of India, Ministry of Home Affairs CHAIRMAN Dr. Equity V. S. We will compose a custom paper test on World or then again any comparative subject just for you Request Now Malimath Formerly, Chief Justice of Karnataka and Kerala High Courts Chairman, Central Administrative Tribunal Member, National Human Rights Commission Bangalore 560 052 MEMBERS S. Varadachary, IAS, (Retd. ) Bangalore 560 076 Amitabh Gupta, IPS, (Retd. ) Formerly, Director General of Police, RAjasthan Jaipur 302 015 Prof. (Dr. ) N. R. Madhava Menon Vice-Chancellor West Bengal National University Of Juridical Sciences Kolkatta 700 098 D. V. Subba Rao Advocate Chairman, Bar Council of India Vishakhapatnam MEMBER â€SECRETARY Durgadas Gupta Joint Secretary Ministry of Home Affairs, Government of India New Delhi 110 011 STAFF OF THE COMMITTEE Sri C. M. Basavarya Formerly, District Sessions Judge, Registrar Director of Training, High Court of Karnataka. Bangalore 560 094. Official Director Sri K. Girither Inspector Central Reserve Police Force Personal Assistant Smt Binnu Menon Sub Inspector Central Reserve Police Force Stenographer Sri S. M. Reddy Asst. Sub-Inspector Focal Reserve Police Force Clerk Sri V. Raja Constable Central Reserve Police Force Office Attender Sri M. K. Uthaiah Constable Central Reserve Police Force Office Attender Committee on Reforms of Criminal Justice System (Government of India, Ministry of Home Affairs) 12/A Diagonal Road Vasanthanagar Bangalore 560 052 â€Å"Everything has been said as of now, however as nobody tunes in, we should consistently start once more. † Andre Gide French mastermind and author CONTENTS PART †I FUNDAMENTAL PRINCIPLES 1. 2. 3. 4. 5. 6. Requirement for Reform of the Criminal Justice System Adversarial System Right to Silence Rights of the Accused Assumption of Innocence and Burden of Proof Justice to Victims 3 23 39 59 65 75 PART †II INVESTIGATION 7. Examination 8. 87 PROSECUTION 125 PART †III JUDICIARY 9. 10. 11. 12. 13. Courts and Judges Trial Procedure Witness and Perjury Vacation for Court Arrears Eradication Scheme 133 145 151 157 163 PART †IV CRIME PUNISHMENT 14. 15. 16. 17. 18. 19. 20. Offenses, Sentences, Sentencing Compounding Reclassification of Offenses against Women Organized Crime Federal Law and Crimes Terrorism Economic Crimes 169 181 189 195 207 213 233 PART â€V LOOKING AHEAD 21. 22. 23. Developing Role of the Legal Profession Preparing †A Strategy for Reform Vision for Better Criminal Justice System 249 253 259 PART â€VI RECOMMENDATIONS 24. Proposals 265 Acknowledgment The country is thankful to Sri. L. K. Advani, Deputy Prime Minister and Home Minister, for his vision for extensive changes of the whole Criminal Justice System including the crucial standards and the applicable laws. Until now, endeavors were made to change just certain arrangement of laws, or one specific functionary of the framework in piecemeal. This sort of compartmental assessment missed the fundamental spotlight on equity to casualties and national worry for harmony and security. The dedication made by him and his recognized partner Sri. Arun Jaitley, Minister for Law and Justice, to execute the changes, when the Committee makes its suggestions, is a fitting response to the skeptics that the Report on Reforms of Criminal Justice System will be one more expansion to the few prior reports that are gathering dust in the Archives of the Government. The Committee is obligated to the then Chief Justice of India, Dr. A. S. Anand, for calling upon all the High Courts to give all data and help the Committee needs. Our appreciative gratitude to previous Chief Justice Sri. B. N. Kirpal for guaranteeing that all the High Courts send the reports looked for by the Committee on the State of Health of Criminal Justice in their separate States. The Committee is appreciative to Sri Justice V. N. Khare, the Chief Justice of India for avincing unmistakable fascination for the Committee’ work. s Justice P. V. Reddy, Judge Supreme Court, the then Chief Justice of Karnataka High Court, set at the removal of the Committee, the structure for lodging the Committee’ office in Bangalore. The Committee is thankful to him. s The Committee is appreciative to all the State Governments, High Courts, Officers of the Police Departments, Prosecution Department, Law Departments and Home Department. Our genuine gratitude to the Bar Association of India, New Delhi, the Indira Gandhi Institute of Development Research at Mumbai and Asian College of Journalism, The Hindu in Chennai for working together with our Committee in arranging courses on various points and to the National Law Universities at Bangalore and Kolkatta for rendering whatever help the Committee required occasionally. Our gratitude to Sri. Shivcharan Mathur, previous Chief Minister Rajasthan, Sri. Equity N. L. Tibrewal, previous Chief Justice of Rajasthan, Justice Dave, Sri. Rajendrashekhar, previous Director CBI and DGP Rajasthan, Sri. K. P. S. Gill, previous DGP Punjab and Assam, Sri. Rajath Sharma, Media character and Prof. P. D. Sharma for helping the Committee in sorting out the course at Jaipur. Our genuine gratitude to Chief Ministers, Ministers, Judges†present and previous, recognized legal advisors, Police Officers, media characters, legislators, social researchers, establishments and associations and NGOs who have helped the Committee in sorting out or taking part in classes, bunch conversations or gatherings. An expression of exceptional appreciation to the regarded Dr. R. Venkataraman, previous President of India, Sri. Bhairon Singh Shekhawat, Vice-President of India, Former Chief Justices Ranganath Misra, Ahmadi and Kania, Justice Jagannatha Rao, Chairman, Law Commission of India, Justice Jayachandra Reddy, Chairman Press Council of India, Justice K. T. Thomas, Sri. Soli Sorabjee, Attorney General for India, Sri. Fali Nariman, President, Bar Association of India, Senior Counsel Dr. L. M. Singhvi, Sri. Venugopal, Sri. Shanti Bhushan, Sri. Dipankumar Gupta, Sri. V. R. Reddi, Sri. K. N. Bhat, Sri. C. S. Vaidyanathan, Sri Lalit Bhasin, Lord Goldsmith, Attorney General of England, Sri Badri Bahadur Karki, Attorney General of Nepal and specialists from USA, Judge Kevin Burke, Mr. Robert Litt, Mr. Ranganath Manthripragada, Ms. Dianne Post from the USA and Mme Maryvonne Callebotte, Mr. Jean Luis Nadal, Mr. Roussin, Mme. Claude Nocquet and Mr. Lothion from France. The Committee acknowledges the supportive signal of the Governments of USA, France and UK in welcoming the Committee to visit their States to familiarize the Committee with the working of their particular Criminal Justice Systems and the changes they are attempted. The Committee couldn't go to USA promotion UK for need of time. The Chairman and Sri. D. V. Subba Rao could visit France. Our appreciative gratitude to USAID for getting four specialists to Delhi to brief the Committee about the American System. The Committee might want to record its profound feeling of thankfulness for the great hard work of Sri. C. M. Basavarya rendered as Executive Director of the Committee. The Committee is grateful to the Director General of CRPF for loaning the staff comprising of Inspector K. Girither, Sub-Inspectors Binnu Menon and G. Yamini Rekha, Asst. Sub Inspector S. M. Reddy, Constables V. Raja and M. K. Uthaiah to work for the Committee. The Committee records its thankfulness and passes on its gratitude to every last one of them for magnificent assistance and help to the Committee to finish its errand on time. PART †I FUNDAMENTAL PRINCIPLES 2 3 Requirement FOR REFORM OF CRIMINAL JUSTICE SYSTEM _ â€Å"Law ought not sit flaccidly, while the individuals who resist it go free and the individuals who look for its assurance lose hope†. (Jennison v. Dough puncher (1972) 1 All ER 997). Council AND ITS WORK 1. 1. The Committee on Reforms of the Criminal Justice System was comprised by the Government of India, Ministry of Home Affairs by its request dated 24 November 2000, to think about measures for patching up the Criminal Justice System. (Annexure-1). The terms of reference for the Committee are: I. ii. iii. iv. v. To look at the central standards of criminal law, including the established arrangements identifying with criminal law and check whether any alterations or changes are required thereto; To inspect in the light of discoveries on major standards and parts of criminal law regarding whether there is a need to re-compose the Code of Criminal Procedure, the Indian Penal Code and the Indian Evidence Act to get them tune with the interest of the occasions and in congruity with the desires of the individuals of India; To make explicit proposals on improving legal strategies and ractices and making the conveyance of equity to the regular man nearer, quicker, simple and modest; To recommend available resources of growing such cooperative energy among the legal executive, the Prosecution and the Police as reestablishes the certainty of the normal man in the Criminal Justice System by securing the honest and the person in question and by rebuffing unsparingly the liable and the lawbreaker; To pro pose sound arrangement of overseeing, on proficient lines, the pendency of cases at examination and preliminary stages and making the Police, the Prosecution and the Judiciary responsible for delays in their particular areas; vi. To look at the practicality of presenting the idea of â€Å"Federal Crime† which can be put on List I in the Seventh Schedule to the Constitution. 1. 2. The Committee was established under the Chairmanship of Justice V. S. Malimath, previous Chief Justice of Karnataka and Kerala High Courts, Chairman, Central Administrative Tribunal and Member of the Human Rights Commission. Different individuals from the Committee are Sri S. V

Vioxx Recall free essay sample

By 2003, the board checking this preliminary noticed that the occurrence of respiratory failures and strokes was 20 percent higher among patients on VIOXX than on the fake treatment and by 2004 this distinction was 80 percent; in September of that year Merck pulled back Vioxx from the market (Waymor). On the off chance that I was the CEO of Merck I would have revealed these dangers to the FDA when they were found with the goal that the patients at present taking VIOXX would have had the option to settle on their own educated choices whether to keep taking it or not. Merck benefits would have dropped, however patients would have lived and Merck’s lawful liabilities would have been far less. When Merck pulled back VIOXX, they had known about proof that it lead to expanded cardiovascular dangers for at any rate three years and perhaps more and had openly denied that there was any hazard related with VIOXX (Waymor). On September 30, 2004, Merck ran a promotion in numerous national papers whichâ announced their withdrawal of VIOXX from the market. We will compose a custom article test on Vioxx Recall or on the other hand any comparable point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page The notice comprised of a letter from Raymond B. Gilmartin, Chairman, President and CEO of Merck, and incorporated the organization maxim: where patients start things out. The promotion commonly showed up in the business area of the paper, however binding it in the day by day paper around the nation recommends that it was intended to beâ viewed by people in general on the loose. Gilmartin, affirmed that the choice to pull back VIOXX exhibited that Mercks pledge to its patients is clear and reasoned that it was making a move since we trust it best serves the enthusiasm of patients. The advertisement guaranteed that the pull back was deliberate and rehashed the case multiple times in a one page letter. The organization expressed that it would repay all patients for their unused VIOXX (Heal). Mercks deliberate activities permitted the association more control of the circumstance than a review constrained upon them by the FDA and it started the way toward modifying trust with its partners. It made the feeling that Merck is a proactive organization that makes essential move by decision and is accordingly socially liable for the strength of its patients. Merck likewise spoke to itself as socially capable by declaring that penances are being made for their patients government assistance. The organization encouraged patients to suspend utilization of VIOXX and discover elective medicines for torment the board (Heal). I feel that Merck acted socially capable after the worries about VIOXX had been made open. From a morals perspective Merck ought to have unveiled its discoveries from the earliest starting point. By proceeding to deliver and disseminate VIOXX Merck jeopardized more lives. I feel that Merck didn't have a decision however to make the vital strides so as to redress the circumstance. Merck acted socially dependable on the grounds that they had as well. On the off chance that Merck had educated patients and clinical experts regarding its discoveries from the beginning then I feel that Merck would have spared itself a great deal of time and cash. I feel that Merck was not showing social obligation at the outset. In the event that Merck was genuinely worried about customers wellbeing they would have made their discoveries open in 1999. Works Cited Waymor, Damion. Logical and Critical Approached to Public Relations Edition 2. Walk 19, 2009 Heal, Geoffrey. At the point when Principles Pay: Corporate Social Responsibility and the Bottom Line: May 2008 Lawrence, Anne T. Business and Society Stakeholders, Ethics, Public Policy twelfth Edition New York, NY 2008. Print.

Wife Battering Is A Serious Issue That Is Usually Looked At By Feminis

Spouse Battering is a significant issue that is generally taken a gander at by women's activists as one of the most important indications of the abuse of ladies. This type of abuse represents the battle ladies have against the male controlled society and it's hang on social opportunities. There are various circles which ladies battle in, music and the music business is one case of a field of battle. Spouse Battery is a subject as a rule dug into by women's activist groups or female lyricists, yet it takes on an alternate light when expounded on and performed by an all male group. With the alternate point of view comes another approach to forestall this social difficulty. The Watchmen and Matchbox 20 are both male musical gangs which have hit the main forty over and over, and who investigate the issue of abusive behavior at home. The Watchmen are a Canadian band that gets at any rate a gold record with each collection they discharge. Matchbox 20, are from the US and sold more than 5,000,000 duplicates of their introduction collection, with Push being perhaps the greatest tune. The media is a gigantic range of prominence in our general public, and music is a piece of that effective reach. The tunes Run and Hide and Push both hold rule as famous melodies by well known groups so they send their messages considerably stronger than most types of dissent. The way that the melodies are by male specialists can just reinforce that voice as spouse battery is generally a female issue when brought to people in general. In this paper I will break down the impact of the music and it's types on the social issue of spouse battery and look at the subject of abusive behavior at home itself. The craftsmen I have picked speak to the male voice of women's activist dissent, yet in addition of the battle for balance and opportunity. Abusive behavior at home There are numerous definitions for abusive behavior at home, the definition that will be utilized in this paper is brutality between hetero grown-ups who are living respectively or who have recently lived respectively in a marital relationship.(MacLeod, 1980). While the subject of maltreatment in lesbian and gay connections is as yet a significant issue, it widens the principle subject of this paper a little to a lot to me referenced. Most detailed instances of maltreatment in the local family unit have to do with spouse misuse and the meaning of that is: ...savagery, physical as well as mental, communicated by a spouse or a male or lesbian live-in loveer toward his better half or his/her live-in sweetheart, to which the wife doesn't assent, and which is straightforwardly or by implication supported by the conventions, laws, perspectives common in the general public which it happens (MacLeod, 1980). This sort of brutality happens inside each feature of society and not only those of low-pay of class. There are four sorts of brutality: physical, sexual, enthusiastic and social maltreatment and each type frames a continuum from minor to significant lethality (Tolman, 1997). The most clear type of brutality is physical maltreatment. This starts with absence of thought for the physical solace or needs of others (overlooking an individual is hanging tight for a ride or strolling too rapidly for a kid to keep up), pushing; pushing; hair-pulling raises to activity like punching, wounding and broken bones or wounds which need clinical consideration. At long last, changeless injury can result, utilizing weapons and even homicide. A piece of physical maltreatment is sexual maltreatment. On a continuum this starts with the externalization of ladies through jokes, mortifying or debasing remarks and verbally abusing, it raises to awkward contacting, requests for sex or discipline by dismissal of her as a sexual accomplice. Too, driving sex after a beating, utilizing weapons to compel sex or for sexual control, causing lasting injury and at last homicide (Tolman, 1997). Another type of savagery is psychological mistreatment. It incorporates those practices that are done straightforwardly to the individual to render her vulnerable and absolutely subject to the abuser. This starts with kids about her propensities and blames as a ladies, overlooking her emotions, shouting and hollering menacingly during contentions and rehashed employments of put-down and mortification strategies. Taking steps to utilize physical/sexual maltreatment, accusing and unwarranted allegations, geographic separation or making her stay in the home and wrecking her assets additionally make up psychological mistreatment. The last type of

The Third Stage of Rehab Is Maintaining Abstinence

The Third Stage of Rehab Is Maintaining Abstinence Addiction Coping and Recovery Overcoming Addiction Print Maintaining Abstinence and Preventing Relapse The Third Stage of Rehab is Maintaining Abstinence By Buddy T facebook twitter Buddy T is an anonymous writer and founding member of the Online Al-Anon Outreach Committee with decades of experience writing about alcoholism. Learn about our editorial policy Buddy T Updated on June 24, 2019 Developing a Drug-Free Lifestyle. © Getty Images More in Addiction Coping and Recovery Overcoming Addiction Methods and Support Personal Stories Alcohol Use Addictive Behaviors Drug Use Nicotine Use If you sought professional treatment for your drug or alcohol problem and managed to achieve abstinence for about three months, you have probably entered the third stage of rehab or recovery, known as maintaining abstinence. If you have been clean and sober for 90 days, you now need to put the tools that you learned in early abstinence to work toward maintaining your sobriety and avoiding relapse. Maintaining abstinence is the third of four stages of recovery or rehab defined by the National Institute on Drug Abuse: Treatment initiationEarly abstinenceMaintenance of abstinenceAdvanced recovery Continuing the Lifestyle After 90 days, you are probably no longer in the residential rehab facility, if you received inpatient treatment, and you have entered the follow-up or continuing phase of your rehab. Although you still have regular contact with your counselor and attend support group meetings, maintaining your recovery is basically up to you. In order to maintain abstinence, it is important that you: Avoid environmental triggers.Recognize your own psychosocial and emotional triggers.Develop healthy behaviors to handle lifes stresses. Vigilance Against Relapse People get in trouble when they let their guard down after their early-abstinence success. It is important that you not take your sobriety for granted and that you  recognize the power of your addiction. Maintaining a recovery-oriented attitude is critical. It is also important that you continue your counseling sessions, your participation in support groups, and that you remain honest with yourself and others about your feelings and thoughts. Changes in attitudes, feelings, and behaviors can quickly lead you to a relapse. Recognizing the Relapse Process A relapse does not begin when you pick up a drink or a drug. Its a gradual process marked by negative changes in your attitude, feelings, and behaviors. Your follow-up counselor will work with you to help you recognize these warning signs and develop a plan to change directions when you start heading down the path toward relapse. Research has shown that an alcohol or drug relapse is preceded by a recognizable set of warning signs or steps that you can learn to recognize and therefore avoid. Your counselor will help you recognize in your own life the distinct steps or phases that occur prior to a full-blown relapse.? Developing a Healthy Plan If you remain in professional follow-up rehab counseling, your counselor will try to help you identify situations in your life where you may be starting to deviate from your healthy recovery plan. But more importantly, they will help you set up concrete, behavioral changes that will pull you out of the relapse process. Some of the areas your continuing care counseling will address include the following. Each of these articles outlines why these steps are important to your recovery and how you can achieve these goals: Healthy RelationshipsDeveloping a Drug-Free LifestyleManaging AngerExercise and NutritionEmployment and Money ManagementSubstituting Addictions If you find yourself in the downward relapse spiral, do something different! Go to more support group meetings, spend time with others who support your recovery, maintain a healthy structure in your life, make sure you are in a drug-free environment, and avoid external triggers. Take positive action to resolve any relationship, personal or work-related problems that are causing you stress.

Inventory Management Easy Retrieving Of Goods For The Customer - 1650 Words

Inventory Management: easy retrieving of goods for the customer from different locations. (Essay Sample) Content: Inventory Management Name Affiliation Introduction Inventory management is a way of supervising all assets that are not capitalized and stocking them. Many companies practice this type of the Directorate because it reveals the primary structure of the business and also the activities that are going on in the enterprise. This is a component of supply chain management, where the flow of goods is fully supervised by the employees from the manufacturers to the warehouses for the goods to be sold to the customers. Some of the companies that use inventory management end up to be the most successful companies globally. The primary use of the inventory management system it is to make it easier for retrieving of goods for the customer from different locations. In our case, we are focusing two companies that use inventory management, and they include; Apple and Amazon. Apple is one of the technologies companies that have gained a lot of profits for the last ten years. The company receives remarks for its high quality and top notch inventory management. The main thing that makes this company successive is the use of supply chain management takes their raw products through several steps until the products become finished products which can be now delivered to the consumers. This is what is meant by the term chain; it's a process of several activities. And in each step, there are those specialists that are expected to do the job that is required. The other company is Amazon. The company sells so many commodities, and now the company is on a retail plane of its own due to its popularity globally. The company uses inventory management as a mean of their success. But many economists and business people say that the main reason why Amazon has been the most progressive company for several years, it’s because it only sells finished products. This is the other advantage of inventory management. The company is also very organized because it has a program that acts as an intermediary between the buyers and the sellers of their products. The company also allows other business people to sell items on theory website, which is very generous of them. But the most important thing about the use of inventory management is that they have to manufacture store and also ship the products. (Grattan-Guinness, 1998) This two company’s use the same type of stocks and the type of inventories they use include the following; * Balance sheet inventory * Off- balance- sheet inventory. * Raw materials inventory * Finished goods inventory. This is some of the lists that Amazon and Apple use for their inventory management. These types of inventories play a great role in the success of the companies. For the balance sheet inventory it is divided into components so that the work of the employees can be made easier where the corporation can k now the profit they get from their assets .the off balance sheet inventory is a type of inventory that the companies use to manage and recognize their revenue with its channel partners for the resale of the products.Raw material inventory is a type of inventory that is used by the companies in the conversion process of the products to produce finished products from raw materials. Finished goods inventory is an inventory that deals with completed products. For these products to reach this stage, it must have gone through a process. Some of the characteristics of these inventories include the following; (Hopt Wymeersch, 1994) * Easier to operate, this type of inventories are elementary to operate; this is why these companies are very successful. Some of the companies will see it very hard, but these companies have used the easier ways to become successful. * Very easy to control. The types of inventories that these companies use are elementary to monitor. The main thing is to set up a sound management system, this is what these companies do, and this is why they are successful. * Very cheap, Amazon and apple are massive companies globally, they want to be an example to other companies, and this is why they use this type of inventories that are very cheap so that those small firms can get along with them. * Update of inventory records. These types of inventories are always up to date, as long as there is good management. This is why these companies are successful and leading in the market. The services and goods of these two companies are very integrated. It’s all known that apple offer electronics and other devices. This is very same to Amazon because this is a business site in which they sell electronics such as computers books and also all other sports equipment. This two companies offer the same services to their customers. They give their customers quality and durable goods. They also provide their finished goods. They also provide education about their products and show the consumers how to use them. (Grattan-Guinness, 1998) All the inventories as mentioned above play a very significant role in the performance of the two companies, the operational efficiency and also customer satisfaction. The balance sheet inventory will provide information about the assets of the business where the companies will be able to know their profit and also loss they get; this will improve the performance of the activities and the operational efficiency. The off balance sheet will be able to get a list of all those products that are ready for resale, and this will create an excellent operational service to the companies. Raw materials and finished inventories are the most substantial stocks in this case because they will satisfy the customers on which kind of goods they want. All clients visible will need those goods that are finished; this inventory will provide the best information for the client who is willing to buy the products. Raw material inventory is significant because it proves the durability of the outputs. All c ustomers will need to show that the goods are original. This is always reasonable to all companies it's not just Amazon and apple. (Grattan-Guinness, 1998) Both of the companies have different layouts. These layouts are able to give the physical structure of the companies. Apple Company has got the following plans; * Process layout * Product layout * Cellular layout * Fixed –position layout This is the types of designs that are incorporated in Apple Company. Likewise this is very different compared to Amazon Company; * Blog layout * Customer service section layout * Product layout This is very different to Apple Company. Because apple does not have plans like customer service and blog design. The company is for selling items and so it must have this type of layouts such as blog layout where the customers can comment anything about the products. The client service plan will offer customers with quality information about the products and how they can get the products. This layouts will be able to assist the companies give quality and durable services and products to customers. (Hopt Wymeersch, 1994) Metrics are very important in inventory management. Amazon and Apple have got metrics that guide them in producing quality products to their customers. Some of the metrics include; parameters for production and metric of transportation. This two metrics will improve supply chain management in the t...

Choosing Good Georgia Tech Supplemental Essay Samples

Choosing Good Georgia Tech Supplemental Essay Samples Despite the fact that you might be in a position to spell out your circumstances during the college interview, a supplemental essay is extremely effective for communicating any extra information that may be pertinent to the college you're applying to. More than having the ability to answer the essay prompts, it's critical to ensure you're applying to the correct school for you. In many ways, it is the most important part of the college application. A college essay is a significant part of a college application and an opportunity. Obtaining a college degree demands persistence and the capacity to stay. You're not being requested to explain how college will allow you to grow, but how Oberlin can help you grow. Today, most college students find it difficult to compose an essay on a particular topic. It's not sufficient to say, I wish to go to XX University because it is a fantastic school. The Lost Secret of Georgia Tech Supplemental Essay Samples There's, clearly, a limit on the range of pages even our finest writers can produce with a pressing deadline, but usually, we can satisfy all the clients seeking urgent assistance. Make certain you pick just one element to concentrate on so that it doesn't sound as if you're making a list of your best contributions. There are lots of online sales options. If you're not gainfully employed or you own an issue with your credit or you haven't any cash, your next best way is to obtain an investor that will joint venture a project alongside you. Included with the in ternet transfer application are 3 short answer essays. To ensure you've highlighted all you need to about yourself in your application. Real individuals are reading your program, and we would like to do our very best to understand and appreciate the actual folks applying to Duke. Choose the topic that most suits you, instead of attempting to game the application. The New Fuss About Georgia Tech Supplemental Essay Samples Additionally, there are Georgia Tech student rentals that act much like a standard apartment, giving you your own space for the whole location. Georgia Tech students seeking an alternate to the noise, restrictiveness and deficiency of privacy related to dorm living may want to take into account apartments for students in Atlanta. The huge pothole on Elm Street that my mother was able to hit each day on the best way to school would be filled-in. By way of example, let's say that you currently have a house and you would like to borrow money to create another h ome for yourself. All About Georgia Tech Supplemental Essay Samples The type of essay you're looking for will be offered to you within the deadline provided to you. Unique things to various folks, since the situation demanded. Some issues can be solved in a few days and won't have a durable influence on your life. The most stressful part of the procedure is just breaking down the essay prompts to determine what they are really attempting to ask you. What Has to be Done About Georgia Tech Supplemental Essay Samples Before You Miss Your Chance Therefore, if you're thinking of a move to Alpharetta, you can be sure your children are going to receive a diverse and robust education, provided by award-winning schools and teachers that have a history of inspiring impressive student performance. You are able to easily buy unique college essays and don't neglect to tell friends and family about it. If you have kids and are thinking about moving here, trustworthy information regarding the community's numerous elementary, middle, and high schools is crucial. When picking a college community, you're selecting a location where you feel you could live, learn, and flourish. Ok, I Think I Understand Georgia Tech Supplemental Essay Samples, Now Tell Me About Georgia Tech Supplemental Essay Samples! Sterling Holloway is among the most popular television actors in the United States. Students lead busy lives and frequently forget about an approaching deadline. To begin with, think of the prompt. The Importance of Georgia Tech Supplemental Essay Samples The Common App essay is a crucial part of the college application. The difficult work of the educators has paid back. People with ADD are usually supplied a special 504 program. Studying only will help improve your abilities. Things You Should Know About Georgia Tech Supplemental Essay Samples Sooner or later, there's nobody school that will provide you everything that you've imagined. Occasionally it's helpfu l to observe how others were able to get over the difficult first-line hump. You are likely to love our work. The individual holding the football has the ground, and they have to toss it to someone else as soon as they make their point. 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What's more, you'll have some ideas about how to compose a compelling essay that can help you stick out from UGA's other 26,000 applicants. Our on-line application contains a necessary short essay (250-750 words) in addition to an optional. A great essay becomes specific and shows particular understanding of the school.

Obsessed on Revenge - Free Essay Example

Sample details Pages: 2 Words: 640 Downloads: 6 Date added: 2019/04/01 Category Society Essay Level High school Tags: Revenge Essay Did you like this example? Have you ever thought on getting revenge? Dead men tell no tales, unknown, this quote has some sarcasm on it, as you notice. Men who are dead cant talk anymore so they have a zero percent chance on saying a word. Another quote would be The thousand injuries of Fortunato I had borne as I best could, but when he ventured upon insult I vowed revenge.The meaning of this turism is that no one has to be perfect everyone is made its own way,and no one should be insulted. Don’t waste time! Our writers will create an original "Obsessed on Revenge" essay for you Create order A fact of this story is that if you look for it you will find it. So my hypothesis is that what started as a simple retarded comment could end as a cruel ending.The Cask of Amontillado a story written by Edgar Allan Poe ,was about a man named Montresor who wanted to get revenge during the carnival. By chance he meets Fortunato who was drunk and acting silly. And Montresor approached and told him that he had an amontillado at his catacombs. They went through the catacombs getting where the amontillado was supposed to be. What Fortunato didnt know was that he was getting closer to his death. Finally Montresor chains Fortunato to a wall and makes a brick wall until the day he is dead. Fifty years have passed and his body is still there. Evil people tend to do substandard effects to others. When Montresor thought of his plan on getting revenge his mind and his thoughts were evil. Like one of its quotes A wrong is undressed when retribution overtakes its redresser.Montresor wants for Fortunato to pay all that he has done to him. This statement means that its an never ending cycle of revenge and betrayal can come unless the story involved some sort of agreement, or someone dies. Since the day Fortunato insulted him Montresor had thoughts of how he will get revenge. He is evil because why do you prefer getting over someone in a deathly way instead of taking care as a gentleman would do it by having a conversation on it. Montesour evilness comes when he starts to think I continued, as was my wont, to smile in his face, and he did not perceive that my smile now was at the thought of his immolation. The path to success is to take massive, determined action. Montresor was a determined person, because he had a plan that was mainly about getting revenge. Although it is not shown on the story, Montesour determination to carry out his plan, Montresor has gone down into the catacombs and made everything perfect to leave Fortunato in his eternal grave. It was about dusk, one evening during the carnival season, that one encountered my friend. This means that Montresor mind was like theres no looking back. What once was a little plant has to become its tree. Referring its time to knock down Fortunato. The ancient world was a cruel place. Between the 18-1900s the world was a cruel place to live everyone criticizes everyone by their color, language, class,and even by an appearance. Yes I said For the love of god! This quote was telled by Fortunato in his last minutes of life because he was chained up to a wall and buried alive.While Montresour was making a brick wall to leave Fortunato on the catacombs ,Fortunato was laughing at him like he did one time. There came forth in return only a jingling of the bells CONCLUSION My conclusion as student is you should have forgiveness on your heart and dont be mean. But on the story everything was opposite The Cask of Amontillado was a story about a man who wanted revenge and he wanted it his own way and it end up being a Maniac Killer.

Self Perception Is Crippled From One s Image - 1197 Words

Studies show that some of the leading symptoms of depression are self-hatred and distortion of one’s image. In the United States alone, over six million men have depression each year. Usually media advertises the false images and standards of today’s society, which then leads to an alternation of one’s self-understanding. However, every once in a while a film breaks through with an accurate portrayal of the issues occurring in our nation. Through it’s authentic illustrations of modern-day culture and beliefs, Fight Club suggests that self-perception is crippled from one’s surrounding environment. To start off, the controversy behind stereotypical gender roles plays a large part in one’s character and self confidence. Men and women are thought to be very different from each other which proves that â€Å"culturally normative ideas of masculinity are sociologically constructed sets of rules that govern male behaviors, from authorizing male emot ions - tough emotions are okay; emotions of vulnerability are not - to authorizing male sex roles, the heterosexualization of desire, for instance†. This quote by Terry Lee perfectly explains the standards that men are expected to live up to due to popular belief. When Jack loses his apartment, he realizes he has nothing, not even a piece of furniture or material, to reassure him of his masculinity. This sends him into a downward spiral of self-misconception. One observes his reckless decision to fight instead of surrendering to emotions asShow MoreRelatedThe Love Song of J. Alfred Prufrock1729 Words   |  7 Pagesand befriended fellow expatriate Ezra Pound, who was very impressed with the quality of Eliot’s work. 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5 Reasons People Fail the Bar Exam

According to Law.com, nearly one-quarter of all those who took the bar exam—24.9 percent to be exact—failed the test in 2017, the latest year for which figures are available. But Karen Sloan, writing on the legal information website, notes that as many as 36 percent failed the exam in Mississippi, making it the state with the largest failure rate, and nearly 60 percent did not pass in Puerto Rico. There are five key reasons why so many test takers fail to pass the bar exam each year. Learning to avoid these pitfalls may help you pass this all-important test. They Tried to Learn Every Detail of the Law The bar exam requires minimum competency knowledge of the law. However, many test takers are overwhelmed at the amount of material they need to study. So they try to study as they did in law school, learning every nuance and every detail. This usually results in hours of listening to audio lectures and making flash cards or outlines but very little time actually reviewing the heavily tested areas of the law. Getting buried in the details can actually hurt your chances of passing the exam. You are required to know a little about a lot of the law, not a lot about a little. If you concentrate on the minutiae, you won’t know the heavily tested areas of the law on the exam and that may put you at risk of failing. They Failed to Practice and Seek Feedback Many students find they don’t have time to practice. This is a problem because practice is particularly important when studying for the bar exam. For example, California requires applicants to take a performance test as part of the bar exam, as do many other states. The State Bar of California notes that the performance test is designed to evaluate test takers: ...ability to handle a select number of legal authorities in the context of a factual problem involving a client. Yet students often scrimp on practicing for this difficult part of the exam, even though past performance tests are available for free online. Essays are also an integral part of bar exams in most states. So, its important to practice this part of the test, and its simple (and free) to access sample exam questions. The New York State Board of Law Examiners, for example, offers essay questions with sample candidate answers for free download from bar exams as recent as February 2018. If you are a bar exam candidate, it behooves you to access such free questions, familiarize yourself with the material, and practice writing essays or grappling with performance test scenarios. Once you practice, compare your answers to the sample answers, rewrite sections if necessary, and self-evaluate your work. Also, if your bar exam review program offers you feedback, turn in all possible assignments and be sure to get as much feedback as possible. You can even hire a bar exam tutor to help you with this. They Ignored the MBE Most bar tests include a Multistate Bar Examination, a standardized bar test created by the National Conference of Bar Examiners, which is administered to applicants taking the bar in nearly all states nationwide. Yet, as with sample performance tests and sample essay questions, its easy to obtain actual—and, again, free—MBE questions from past bar exams, says JD Advising, a bar exam tutoring and preparation firm. Ashley Heidemann writing on the JD Advising website says that its important to practice with real MBE questions because they are written in a very specific style. Though her firm does charge a fee for MBE questions, it also offers free tips on how to pass the MBE. The National Conference of Bar Examiners also offers free MBE questions from previous tests. Indeed, the nonprofit NCBE is a great resource for preparing for all aspects of the bar, regardless of the state where you plan to take the test. The group even offers a Comprehensive Guide to Bar Admission Requirements for $15 as of 2018. Its not free, but considering the importance of passing the bar, it would likely be well worth the money for any bar exam candidate—especially since the NCBE developed and distributes the MBE. They Did not Take Care of Themselves Students who take terrible care of themselves—thus, putting themselves at risk of sickness, added anxiety, burnout, and inability to focus—often have difficulty passing the exam. Sure, this isn’t a time to start a new diet and/or workout regimen, but you won’t do well on exam day if you are tired, bleary-eyed, stressed out, and hungry because you haven’t been taking good care of yourself or didn’t eat properly. The condition of your physical body is a major element of bar exam success, says Bar Exam Toolbox. They Engaged in Self-Sabotaging Behavior This kind of behavior can come in many different forms: You might agree to volunteer for a time-consuming summer program, and as a result, lack adequate time to study. You might spend too much time online or socializing with friends instead of spending quality hours studying. You could pick fights with your significant other leaving you too emotionally drained to study. Bar Exam Toolbox offers a host of tips for mentally preparing for the exam, including how to streamline your bar exam prep, choose a bar exam preparation course (if you decide to take that route), or assess whether you need help studying for the exam if you are taking it for the first time. Remember, you want to take this exam only once: Do everything you can to focus and stay on track with your bar exam preparation.

Weak Form Efficient Market Hypothesis For Emerging Markets - Free Essay Example

Sample details Pages: 12 Words: 3590 Downloads: 9 Date added: 2017/06/26 Category Economics Essay Type Analytical essay Did you like this example? Literature Review The issue of market efficiency in emerging markets is of great significance for both foreign investors and policy makers in emerging economies. This project devotes large efforts to produce a thorough and in-depth literature review for this area. This topic is to be investigated from these aspects: theoretical foundation, methodologies of tests and empirical results. Don’t waste time! Our writers will create an original "Weak Form Efficient Market Hypothesis For Emerging Markets" essay for you Create order Firstly, traditional efficient market hypothesis (Fama, 1970; Makiel, 1973) and behavior finance theories developed in recent decades (Barbris, 1998; Shleifer, 2000) have formed two main schools of thought for the issue of market efficiency. Secondly, the evolution for a series of methodologies is important for testing market efficiency. Thirdly, the empirical evidence is reviewed by consideration three major factors: trade volume and non-linear behavior, structural breaks and market evolution through time. Finally, it also reflects some important policy implications for emerging markets. Many empirical studies have been widely carried to investigate the weak-form efficient market hypothesis for emerging markets, and the results are mixed. Generally, most of emerging markets are found to be inefficient. But for some countries, such as Istanbul, Egypt and Jordan, after correcting for institutional characteristics and trading conditions, such as thin trading and the presence of non- linearity, equity markets are found to be efficient. When structure break factors are taken into account, market efficiency is powerfully rejected for countries such as Argentina, Brazil, Greece and India. There is also evidence showing that initially emerging markets are inefficient, but over time they are moving toward to be more efficient, such as in Estonian, Lithuanian and Russia duo to economic liberalization policies. These results reflect some important policy implications. Infrequent trading and illiquidity of capital markets negatively affects market efficiency, so economic policy makers should devote efforts to minimize the institutional restriction and barriers on capital flow in the financial markets and to impose strict disclosure requirements, so that investors can easily access to high quality and reliable information. Improving liquidity of capital markets can provide lower borrowing costs for investors and greater opportunities for investment diversification wit h lower systematic risks. In addition, equity market liberalization is important to help achieving market development. It can reduce cost of capital and increase capital productivity with better capital allocation. Introduction: Due to the increasing globalization of financial markets, fast economic growth and adoption of financial liberalization policies for equity markets in emerging economies, it is widely indicated that equity investment in emerging economies can provide superior returns. Past decades have witnessed spectacular growth in both size and relative importance of emerging equity markets. The market capitalization of emerging market economies accounts for twelve percent of world market capitalization and has more than doubled, growing from less than $2 trillion in 1995 to $5 trillion in 2006 (Nally, 2010). By 2015, it is estimated that the combined GDP of emerging-market economies will surpass that of the top 20 developed economies (ibid). In addition, emerging market returns are weakly correlated with returns in developed markets, so international diversification with these emerging equities can give lower portfolio risks (Levy Sarnat, 1970). The potential high rates of returns and diversif ication benefits has attracted large number of foreign fund investors, so the investigation on whether emerging markets function efficiently is significantly important. By knowing degree of market efficiency, economy policy makers and regulators can gain insights to develop right institutional and regulatory frameworks to allocate scare resources efficiently, form favourable investment condition and obtain further economic growth. Therefore, this essay is going to investigate the weak-form market efficiency in emerging markets. The efficient market hypothesis by Fama (1970), Random Walk module by Makiel (1973) and behaviour finance theories are directed related to this issue and form the theoretical foundations. Section 1 will critically give the theoretical review based on the two schools of thought that are EMH and behaviour finance theories. Section 2 will give a brief review of methodologies adopted in literature review. Section 3 will give empirical review of the weak-form E MH for emerging markets. Section 4 will indicate some brief policy implications for emerging economies and section 5 is the conclusion with some directions for further research. Theoretic Review of EMH VS Behaviour Finance Efficient Market Hypothesis Fama (1970) defines an efficient financial market as one in which security prices always instantaneously and fully reflect all available information. No investors can earn expected abnormal return by analysing past known information. Market efficiency is attained by two key forces: investor rationality and arbitrage activities (Fama, 1970). EMH assumes that investors are rational and can process information correctly and efficiently. Although some investors are irrational and may overact or underact to new information, these judgement errors are independent and random, hence can cancel out each other without affecting prices (Fama, 1998). Therefore, on average, the whole market is efficient. In addition, since numerous profit-maximizing investors are competing to analyse, value and trade securities based on all available information to exploit arbitrage opportunities, on aggregate level, security prices are adjusted quickly to reflect the effect of new information (Fama, 1998). Sec urity prices are driven close to intrinsic values. Expected returns implicit in the current price of a security should reflect its underlying risk, and higher returns are earned only as compensations for bearing higher risk. There are two main modules that explain EMH: fair-game model and random walk model (RWM). The fair-game model is expressed as: Zj,t+1 =rj,t+1-E(rj,t+1à ¯Ã‚ ½Ã…“à Ã‚ ¤t), E(Zj,t+1à ¯Ã‚ ½Ã…“à Ã‚ ¤t)=0 (Copeland, Weston Shastri, 2005). Information in à Ã‚ ¤t is fully utilized to determine equilibrium expected returns. On average, the expected return on an asset E(rj,t+1à ¯Ã‚ ½Ã…“à Ã‚ ¤t) equals its actual return (rj,t+1), so that no expected abnormal return can be gained from past information. RWM gives much stronger condition for EMH. It assumes that successive price changes have a same normal distribution and are independent. Its logic is that because new information is unpredictable and reaches market randomly, so under EMH, the resulting se curity price changes must be also unpredictable and random (Malkiel, 1973; Malkiel, 2003). No profit can be made from past information. There are three sub-hypotheses of EMH depending on the level of available information set (Fama, 1991). Firstly, market is weak-form efficient when prices reflect all security market information such as historical prices. Secondly, market is semistrong-form efficient when prices reflect all public information such as corporate news and financial statements. Thirdly, market is strong-form efficient when prices reflect all public and private information. Behaviour Finance Theories Figure1: Conceptual Framework of Behaviour Finance Source: Shleifer (2000) However, behaviour finance challenges EMH because it argues that psychological biases lead to investor irrationality and limits to arbitrage impede exploitation of mispricing opportunities (Shleifer, 2002). Psychological bias results into systematic overreaction or underreacion among investors. Many behaviour finance theories have been successfully developed to explain some market anomalies. Conservatism biases lead people adjust slowly to new information and hence the underreaction to new information leads to short-run momentum, while representativeness heuristic makes investors believe that past good stock performance will continue and people overreact to information (Barberis, Shleifer Vishny, 1998). Additionally, overconfidence causes investors to overestimate the precision of their own analyses and to neglect public signals (Daniel, Hirshleifer Subrahmanyam, 1998). Under positive (negative) priv ate signal (which is shown in following graph), informed investors overreact and security is overpriced (underpriced). When public information becomes available, biased self-attribution causes security to be even more overpriced (underpriced). Eventually, public information proves initial investment judgement is wrong, so price is driven back to intrinsic value (Daniel et al, 1998). It explains that overconfidence leads to short-run return momentum and price correction leads to long-run return reversal. Figure 2: Overconfidence and Self-attributed bias Source: Daniel, Hirshleifer Subrahmanyam (1998) Moreover, classification is a human natural instinct to process information (Barberis Shleifer, 2003). Investors naturally classify stocks by styles, so styles returns are highly positive correlated. There are two kinds of investors: style switchers and fundamental traders. Style switchers are unsophisticated investors and chase investment styles based on past relative stock p erformance. When there is good news about stock X (shown following graph), they will drain funds away from less attractive style Y. It will push up stock Xà ¢Ã¢â€š ¬Ã¢â€ž ¢s price, even higher than its intrinsic value, but further reduce stock Yà ¢Ã¢â€š ¬Ã¢â€ž ¢s price. However, fundamental traders recognize stock Y is underpriced (Barberis et al, 2003). They arbitrage away mispricing opportunities and drive overpriced stocks back toward intrinsic value. Figure 3: Switchers and Fundamental Traders Source: Barberis Shleifer, (2003) On the other hand, limits to arbitrage may obstruct information to be impounded into prices, duo to the fundamental risk and implementation costs. Noise trader risk would prevent rational investors from arbitraging (Delong, Summer Waldmann, 1990). Pessimistic noise trader drive price below intrinsic value, arbitrageurs can buy the asset, but bear risk of further deviation from the intrinsic value when noise traders become even more pessimistic and price goes down even further (Delong et al, 1990). Arbitrageurs usually have short horizon and must liquidate before price recovers, so they will incur loss. The agency problems between professionals and investors also affect arbitrage (Shleifer Vishny, 1997), so not all mispricing would be arbitraged away to lead market become efficient. However, Fama (1998) argues that behaviour finance theories do well only on the anomalies they are specially designed to explain and cannot be generalized to the entire market. Rubinstein (2001) also argues that investor overconfidence would make market à ¢Ã¢â€š ¬Ã…“hyper-rationalà ¢Ã¢â€š ¬?. Methodologies Adopted to Test the Weak-form EMH Empirical researches on testing weak-form EMH can be divided into three broad categories. Firstly, they tests security return independence. If time-series pattern of security returns shows insignificant (significant) autocorrelations, then weak-form EMH holds (is rejected) (Copeland, Weston Shastri, 2005). Secondly, they test return momentum effect. If portfolio of stocks with higher returns in the short past continues to earn higher abnormal returns in the subsequent short term, then short-run past returns contain information that could predict future returns, so EMH will not hold (Copeland et al, 2005). Thirdly, they test technical trading rules. If no trading rules that consistently derive abnormal profits can be found, then weak-form EMH holds. A series of research methodologies have been developed to exam the EMH. The runs test is non-parametric, which is used to determine whether successive prices changes are independent. Unit root tests involve three different methods to test the null hypothesis of a unit root: the Augmented Dickey-Fuller (ADF) test (1979), the Phillips-Peron (PP) test (1988) and the Kwiatkowski, Phillioh, Achmidt and Shin (KPSS) test (1992). Multiple variance ratio (MVR) tests are adopted to detect autocorrelation and heteroskedasticity in returns (Chow Denning, 1993). Empirical Results of Weak-form EMH for Emerging Markets The research results for testing weak-form efficiency on the emerging markets are mixed. World Bank study reports significant market inefficiency for 19 emerging equity markets (Claessens, Dasgupta Glen, 1995). Latin American emerging markets of Argentina, Brazil, Chile, and Mexico are weak-form EMH (Urrutia, 1995), but under the variance ratio test, RWH is rejected (Ojah Karemera, 1999). Under ADF test, EMH is also generally supported for six Latin American stock markets (Choundhry, 1997). For the emerging markets in Asia, major Asian markets are weak-form inefficient, such as Korea and Taiwan (Cheung, Wong Ho, 1993), Singpore and Thiland (Huang, 1995), but some find it is efficient for Hong Kong, Singapore and Japan (Chan, Gup Pan, 1992). When the observed index levels are used, both RWH and EMH are rejected for three equity markets of Saudi Arabia, Kuwait, and Bahrain after adjusting for infrequent trading , but when the corrected true indices are used, RWH is accepted (Abra ham et al, 2002). RWH is rejected in five Middle Eastern emerging markets, Jordan, Morocco, Egypt, Israel, and Turkey (Omran and Farrar, 2001). Weak-form efficiency is rejected for Saudi and Palestinian financial market and inefficiency might be due to delay in operations and high transaction cost, thinness of trading and illiquidity in the market (Nourredine Kababa, 1998; Award Daraghma, 2009). Many researches find that emerging markets are becoming more efficient due to the liberalization policies. Istanbul stock exchange was inefficient in the early times but it becomes more efficient as the country started liberalization and deregulation (Antonios, Ergul Holmes, 1997). 4.1 Thin Trading and Non-linearity It is argued that such mixed evidences of the weak-form EMH in emerging markets are only reliable if the methodologies adopted take accounts for the institutional characteristics and trading conditions of the markets, such as thin trading and the presence of non-linearity (Antoniou, Ergul Holmes, 1997). Ignoring these factors may lead to statistical illusions regarding efficiency. The conventional tests of efficiency based on linear model have been developed to test markets with high levels of liquidity, sophisticated investors with access to reliable information and few institutional impediments (Antoniou, Ergul Holmes, 1997). Therefore they are not suitable for testing EMH for emerging markets with characteristics of thin trading, low liquidity and less well informed investors with access to unreliable information. Thin trading will bring serious serial correlation (Fisher, 1996), so the observed dependence does not necessarily represent serial correlation among securities retu rns. In addition, prices responds to information in a non-linear behavior especially during the early development stages of emerging markets (Schatzberg Reiber, 1992), so if the return generating process is non-linear but a linear model is used to test efficiency, then EMH may be wrongly accepted. This is because non-linear systems such as à ¢Ã¢â€š ¬Ã…“chaoticà ¢Ã¢â€š ¬? ones look very similar to a random walk (Savit, 1988). However, the conventional tests cannot recognize this problem. There are several reasons for the existence of non-linear reaction of price to information in emerging markets. Transaction costs are high, information is relatively not reliable and market is illiquid or there are restrictions on trading (Stoll Whaley, 1990). As a result, investors do not always respond instantaneously to the information, which contradicts the assumptions of investor rationality and linear response of price. Scheinkman and LeBaron (1989) and Peters (1991) also empirically s upport the non-linearity of stock returns. A number of studies have researched the impact of thin trading (Fisher, 1966; Dimson, 1979; Cohen, 1978; Lo Mackinlay, 1990). Many empirical studies also have taken account of the non-linearity in price series and remove the impact of thin trading by the AR (1) model proposed by Miller (1994). Antoniou, Ergul and Holmes (1997) find that there is apparent predictability of stock returns for Istanbul stock market, but after considering the impact of thin trading, the random walk hypothesis is accepted and the market is informationally efficient for 1990 onwards. Abuzarour (2005) examines the effect of non-trading on market efficiency for three emerging Arabian equity markets: Jordan, Egypt and Palestine using the variance ratio test and the run test during the period of 1992 and 2004. Both random walk hypothesis and weak form efficiency are rejected when the observed index levels are used. However, when the indices are corrected by the Mi ller, Muthuswamy and Whaley methodologies (1994) to take account for thin trading, weak-form EMH is accepted for Egypt and Jordan stock market but it is still rejected for Palestine. All these empirical researches suggest that markets become more efficient when trading volume is high, information is much reliable and institutional frameworks are appropriate. 4.2 Structural Breaks Research on efficiency for emerging markets should not only take account for institutional characteristics and trading conditions, but also should take account for the structural breaks in the underlying series that arise from the liberalization. Ignoring structural breaks can lead to wrong inference that these indices are following random walks. Many emerging countries are liberalizing their financial markets with various degrees (IFC, 1997) and such structure changes would have affected their equity markets (Bekaert et al, 2002; Henry 2000). For instance, huge shocks occurred for equity index level for Greece, Malaysia and Philippines in late 1980s and early 1990s, which are around the same year of their market liberalization. As Perron (1989) have demonstrated that traditional standard tests for RWH in stock prices have low power against the alternative hypothesis in small samples, and the problem is especially serious when structural changes are involved. Thus failure to consid er these breaking points may wrongly support the RWH. Therefore, many empirical researches try to incorporate the structural breaks factor by more powerful test methods, such as the Zivot- Andrew sequential test (Zivot Andrew, 1992). Chaudhuri and Wu (2001) adopt both the standard ADF test and Zivot- Andrew sequential method to test the EMH in seventeen emerging markets: Argentina, Brazil, Chile, Colombia, Greece, India, Jordan, Korea, Malaysia, Mexico, Nigeria, Pakistan, Philippines, Taiwan, Thailand, Venezuela, and Zimbabwe. Results for the ADF test without breaks to each series tend to show non-rejection of the RWH. However, results for the Zivot- Andrew test with structural breaks show that RWH can be powerfully rejected at the one percent significant level in ten markets: Argentina, Brazil, Greece, India, Malaysia, Mexico, Nigeria, Philippines, Taiwan and Zimbabwe (Chaudhuri Wu, 2001). 4.3 Market Evolution Although structural breaks have been taken into account in many researches, it is argued that standard techniques are still not fit to test the weak-form EHM for emerging market, because they are not able to evaluate the evolving efficiency in emerging markets. It is also argued that methods such as a time varying parameter model and Kalman Filter technique not only can indicate the movement of stock returns from inefficiency to efficiency, but also can measure the timing of the movement towards full efficiency(Rockinger Urga, 2000; Zalewska-Mitura Hall, 1999). It is generally agreed that emerging markets are evolving from inefficiency to efficiency with the higher disclosure degree of firm practices, high trading volume and lower institutional barriers to trade (Cornelius, 1994). According to Laurence (1986), the methods of OLS or GMM test market efficiency over the whole period and hardly capture the tendency towards efficiency, so under these methods, early inefficiency would wrongly lead to the conclusion that there are profit opportunities based on the past asset price movement. In addition, the variance of the error process in the conventional test models is not constant over time, so if this changing variance structure is omitted and has a serial correlation property, then market efficiency would be incorrectly rejected (Hall Urga, G2002). Hall and Urga (2002) deal with these problems by using the Kalman Filter and combing the time varying parameter model with a standard GARCH-M model (generalized autoregressive conditional heteroscedasticity in mean). They apply this procedure to the two indexes of Russian stock market from 1995 to 2000. And find that with regard to RTS index (Russian Trading System), the market is initially inefficient and it takes about two and a half years to become efficient, while for the ASPGEN Index (Skate Press Agency General), the market is still predictable. There is evidence of a tendency towards being efficient. Kved aras and Basdevant (2002) also investigate the market efficiency in the three Baltic States: Estonia, Latvia and Lithuania by using the time-varying variance ratio statistic robust to heteroscedasticity based on time-varying autocorrelations. They find a clear trajectory to weak-form efficiency in the Estonian and Lithuanian capital markets. Its relatively small inefficiency can be explained by transaction costs and information acquiring costs (Grossman and Stiglitz, 1980). In the Latvian market, it is inefficient even at the very end of the analyzed period. Policy Implications These results have some important implications for developing effective institutional and regulatory frameworks. Since infrequent trading negatively affects market efficiency and liquidity in emerging markets, economic policy makers should pay attention to minimize the institutional restriction and barriers on capital flow in the financial markets, impose strict disclosure requirements and ensure that investors can easily access to high quality and reliable information. Improving liquidity of capital markets can provide lower borrowing costs for investors and greater opportunities for investment diversification with lower systematic risks. In addition, equity market liberalization is important to help achieving market development. It can reduce cost of capital and increase capital productivity with better capital allocation. Conclusion 6.1 Short Summary In conclusion, as two main schools of thought in modern financial theories, there is a hot debate between efficient market hypothesis and behaviour finance. EMH asserts that financial markets are informationally efficient and equity stock prices instantaneously and fully reflect all known information. While behaviour finance argues that psychological biases lead to investor irrationality and limits to arbitrage impede exploitation of mispricing opportunities, so market is not efficient. There are wide empirical researches on the issue of market efficiency in emerging markets with mixed results. It is generally found that most of emerging markets are still inefficient, but after correcting for institutional characteristics and trading conditions, such as thin trading and the presence of non-linearity, some researches find that equity markets are efficient for some countries such as for Istanbul, Egypt and Jordan. When structure break factors are taken into account, market efficiency is powerfully rejected for most emerging countries such as Argentina, Brazil, Greece and India. There are also some evidence shows that duo to economic liberalization policies, many emerging markets are moving towards more efficiency such as Estonian, Lithuanian and Russia. 6.2 Limitations of Empirical Researches and Proposed Further Research However, there are some limitations involved in these empirical researches. Some researches ignore whether the distribution is normal or not. Others using equally weighted indices may bias the results. The possible auto-correlation might be due to the noise traders but doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t imply return predictability (Cuthberston, 1996). Most of these studies focus on the test of time series of equity return to investigate EMH, but don not investigate the momentum effect or the profitability of technical trading to earn abnormal return. Therefore, further research can be extended in several dimensions. Firstly, it suggests trying to combine the tests of momentum effect or technical trading rules with the time series tests to make more robust conclusions. Secondly, since most of researches focus on traditional EMH, it can consider the factors of investor behaviour, such as psychologies bias and limits to arbitrage to do further in-depth testing of EMH. Finally, further researche s for more novel and accurate methodologies of testing EMH are significantly essential.