Debt and Leverage Ratio Essay Example

Debt and Leverage Ratio Essay I would recommend financial strategies # 2 $100 million purchase price funded by 100% debt. (This is before I did free cash flow forecast for # 9). It will provide the highest tax shield of $17. 49 million for CPP. In addition, Pinkerton has the highest value of $107. 34 million under this strategy. 7. Below is the balance sheet after CPP and Pinkerton acquisition. * CPP market value leverage ratio is 7. 46% and book value leverage is 14. 69% before acquisition. * After acquisition, with $75 million debts, the market value leverage ratio is 52. 9% and the book value leverage ratio is 64. 49%. * After acquisition, with 100 million debts, the market value leverage ratio is 69. 95% and the book value leverage ratio is 85. 14%. 8. Below is the transaction of loss equity. CPP receives $25 million from the bank but gives up $32. 58 million to the bank for the promised 45% equity after acquisition. The cost of doing equity issue is $7. 58 million. Equity Issue with $ 75 million debt| Value of Combined CPP| 147. 4| Minus Long term debt| 75| Equity| 72. 4| Minus 45% to banks| 32. 58| CPP receive| 25| Loss| 7. 58| 9. From the expected cash flow table below, CPP has extra free cash flow by financing $75 million debt compare to financing $100 million. Both strategies provide positive free cash flow for the next five years. From the Pessimistic cash flow table below, CPP has more cash flow by financing $75 million debt compare to financing $100 million. $75 million debt strategy provides positive cash flow for the next five years. On the other hand, $ 100 million debt financing will lead to negative cash flow on the fourth and fifth year. 10. * I would recommend Tom Wathen to bid on Pinkerton. The acquisition with Pinkerton will create synergy and bring incremental free cash flow to CPP. According to the valuation, the value of CPP is about $ 41. 53 million and the value after acquisition will increase to $147 million. * Initially, CPP bided $85 million but was rejected. From the valuation, Pinkerton is worth $108 million (include incremental value) at the expected value and $85 million (include incremental value) at the pessimistic value. If you take the average of $108 million and $85 million it comes to $96 million. Therefore, I would recommend Wathen to bid $96 million. We will write a custom essay sample on Debt and Leverage Ratio specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Debt and Leverage Ratio specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Debt and Leverage Ratio specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This would ensure that Wathen’s bid would come in at the right price and not be lower than other bidders. * After doing the free cash flow forecast for the next five years there was negative cash flow with $100 million debt in pessimistic period. Wathen should finance $96 million with 75% in debt ($72 million) and $24 million in equity in exchange for 31 % of the equity in the new combined firm. By doing this, it will ensure no equity loss to the bank. In addition, with $72 million in debt and $24 million in equity will ensure no negative cash flow when the economy is bad (in pessimistic period).

Services Marketing Case Study Essays

Services Marketing Case Study Essays Services Marketing Case Study Essay Services Marketing Case Study Essay These customers vary in terms of their requirements and expectations. It is important for the carriers to leverage the available data to get insights into the passenger behavior Getable operated in the low-fare category of the industry, but unlike other low-fare airlines, Getable wasnt a no-frills airline Offerings Getable experience Bring humanity back to Air travel and make the experience Of flying happier and easier for everyone Wider leather seats More legroom and storage space In-flight entertainment (24 channels) Dedicated service personnel Free co-branded amenities Touch screen check-in Pre-assigned seats It offered a unique flying experience due to its Humanity touch The airlines tapped in on caring for its customers in an industry that lacked compassion, a missing human touch. It offered to better the lives of its customers, creamers and the communities. This commitment to inspiring humanity was their differentiator. The airline also flew its planes from point to point. It did not use the hub system of other airlines. By using the point-to point system, Getable was very selective when picking the geographic markets where it wants to compete. VALUE CHAIN Inbound Logistics Internet presence and web-based ticketing Operations crew scheduling, no meals, automated baggage handling Outbound Airports chosen carefully, less congested Make. ND sales work from home call centers, attractive pricing Service customer-focus, CEO who interacts Service Value : Highly productive people, productive aircrafts, caring culture of he organization Hard standards: On time performance Customer support Complaint handling time Bill of Rights Time for boarding Soft Standards: Friendly personnel Cleanliness on-flight Getable understood its internal environment, the external environment, competition, as well as its own customers and potential customers. Nonins ured behavioral segmentation and competitive advantage to be ahead of its competitors. Service Marketing Triangle: External Marketing: Jet blues external marketing promises to the customer were low cost and high service quality. The service facilities like Spa, Live TV, Dunking Donuts Effie, Satellite radio were examples of the same. Internal Marketing: Jet Blues was able to enable its promise by inspiring its employee. Jet Blue had a humble CEO who cultivated the sense of team work in its employees. The CEO had the ability to connect with its people. The Jet Blue involved its employee in every aspect of the business. The Supervisors in Jet Blue attended the Jet Blue University to learn the company principles of team work. The inculcated the sense of We in the Jet Blue crew members. They increased the work force productivity through better training and smarter business processes. The internal marketing in Jet Blue helped the airlines to keep its employees motivated and they were actually seen defending the airlines during the time of the crisis. Interactive Marketing: Jet blues CEO used to frequently travel in the airlines and used to connect with the customers to take the feedback on the services provided and also requested them to provide suggestions on the improvement of the airline service as a whole. This was an example of CEO leading its employee by example. Jet blue won lot of awards, In 2007 Jet Blue was named as number three most admired airline by fortune and best in customer satisfaction by Market Matrix in 2006. They were also picked as best domestic airline by Coned NASA Travel and Travel + Leisure. They had a fleet of highly motivated employees as a result of which they enjoyed the second lowest rate of customer complaints among the 10 Largest U. S. Airlines. Service profit Chain Jet Blue internal marketing let to employee satisfaction, which led to customer satisfaction and increased revenue growth and profitability for Jet Blue. Jet Blue employees considered themselves as an integral member of the airlines. There were instances wherein the employees were responding to the customer on the complaints raised by them during the time of crisis, this is one classic example of high internal service quality in Jet Blue. The employees in Jet Blue were highly satisfied which led to employee retention and employee productivity; in addition to that this led to high external service value to the end customer. The customer were satisfied with their jet blue experience, in addition to that Jet Blue also had a loyal base of customer which came out in defense of the airline during the time of crisis. As a result of overall value chain Jet Blue experienced year on year revenue growth from 000 to 2004 and which led to profitability for the firm. Q. What challenges did David Melanin and his executive team face in managing the customer experience as the airline grew rapidly? How did they respond to those challenges? We have used the McKinney as Framework to analyze the steps taken by David Melanin after the first crisis of 2005. as Framework is used for auditing the current state of the organization and it can also be used to implement new strategy. S framework consist Of hard and soft Gs. All the as have to align for the strategy to work. If the as are aligned then the short- term strategy also works. Strategy: Jet Blue short-term strategy was to scale up to increase the revenue by market development. They planned to expand their services to medium and small sized cities. They believed that since the carriers in medium and short run cities are less they can charge a premium on the t ickets leading to better revenues. Structure In order to implement the strategy the firm also has to restructure its organization chart. There is no information present in the case on the change on restructuring of the organization. The people involved in the organization structure were CEO, David Melanin and Chief Operating Officer, Dave Barge. There are instances in the case were it is highlighted that CEO was involved in every aspect Of the business. We believe that they should have hired people from the local area upon expansion so that the load on the CEO and Chief Operating Officer should have been reduced and better handling of the on ground resources could have taken place by quick decision making. They should have restructured the organization. This was one S, which was not aligned with the company strategy. Systems: In order to implement the new strategy it is important for the organization to improve upon the systems and current processes. Jet Blue moved towards automation and smarter business processes; however Jet Blue did not pay any emphasis on customer support and capacity of the system. This led to increased chaos during the time of the crisis. Jet Blue should have load tested there system for the maximum calls and maximum bookings. The system went down when people tried to reschedule or cancel their flights during the time of the crisis. This was another place where Jet Blue strategy was not in line with the existing capacity of the system. Skills Jet Blue did improve the productivity of its workforce upon implementation of the new strategy. The employees were trained to be more productive to handle additional traffic. The Skills were aligned with the strategy. Style The management was actively involved with the customer and employee. The employees also responded positively to the management style. The Style was aligned with the strategy. Shared Value The shared value among the employees of the Jet Blue was to provide the end customer with Jet Blue experience. The Jet Blue experience was high service quality at low cost. The strategy was to expand but not at the expense of shared values. Jet Blue employees were living up to the promise of providing he same-shared values. Staff The staffs of Jet Blue were not increased on scaling up there was a gap between the resource and the demand of the employee. The prefect example of same was when the Jet Blue went through the crisis in 2007 the pilots and ground staffs were not enough to handle the situation on ground. The Style was not aligned with strategy of the company. The model clearly highlights the Gap in the Jet Blue new strategy were in by auditing using as framework we came to know that Staff, System and Structure were not in line with the Jet Blue strategy as a result Of which Jet Blue Was not able to provide prompt covers to people during the time of crisis and hence failed miserably. 3. What exactly went wrong?

Rhetorical Analysis Assignment Essay Example | Topics and Well Written Essays - 1250 words - 1

Rhetorical Analysis Assignment - Essay Example Rhetorical Analysis Assignment If I present alone, I shall handle the whole topic. We had initially presented as a group privately in preparation for a thorough presentation to the audience. Further to that we allocated our roles in a random manner since everyone in the group had a good grasp of the entire topic of rhetoric analysis of the website selected. The intention of the memo is to make the audience understand how rhetorical analysis is done. I intend to present my memo to my audience in a clear and understandable way. I have chosen to analyze: http://www.adidas.com/, which is an Addidas company website. Everyone will concur with me that they like Addidas brands. Because this website is simple and accessible to everybody interested in the Addidas brands, the websites provoke those interested in the company and instills in them an urge to use the company products (Adidas.com 2012. However, it achieves its purpose partially but there is still a chance to capture more users of the website. This will be achieva ble if the corporation alters the background of the homepage to be bright and captivating. By doing this, they will capture more youths who happens to be the main proprietors of Addidas products. It is commonly referred to as Logos. The intention of this is to form a cognitive response. Example is if an individual has never visited the website, they will be able to easily understand how to use the website. In this text, the homepage of the website is only designed and is made up of several features.

Recovering from global warming Essay Example | Topics and Well Written Essays - 2250 words

Recovering from global warming - Essay Example This has caused the problem of global warming that has become an issue of major concern internationally. The consequences of global warming have adversely affected human life. It has caused immense changes in rainfall and temperature resulting in more water and food stress. The ice sheets of West Antarctic as well as Greenland have melted permanently. Oceans have become acidified and the global temperature circulation has been affected. Desertification is extending to regions that were previously habitable (Robertson 2006 pp.112-117). Pollution is a very serious problem for the environment, but there are many green and healthy ways to reduce CO2 emissions and create a more sustainable world to live in. Trees play a significant role in reducing carbon dioxide from the atmosphere while they use it in photosynthesis (carbon sequestration). In the process of photosynthesis, carbon dioxide is absorbed by the leaves from the atmosphere and converted in to molecules of carbon which combine with water to produce energy for growth. Oxygen molecules are released in to the environment. This continuous process is significant in ensuring that the free carbon dioxide released in to the atmosphere through anthropogenic processes does not have adverse impacts on the Ozone layer. It is one of the simplest methods of reducing the carbon dioxide in the environment. Research indicates that the tons of carbon dioxide from anthropogenic sources amount to more than 6 billion per year. It has also been established that the current tree biomass is capable of absorbing more than 30 percent of this carbon dioxide (Josphat 2003 pp. 46-51). Earthworks, (1990) established that â€Å"A single tree can clear ou t green house gases produced by a car over a distance of 11,000 kilometers in one year†. This is an indication of how planting more trees can be beneficial in reducing

Comparison of Capital Flows in Asia

Comparison of Capital Flows in Asia 1.1 Background of the Study Capital controls were widely used to prevent the free flow of funds between countries until the late 1970s. A cautious relaxation of such controls during the 1980s proved consistent with greater economic integration among advanced countries and strengthened the case for capital market opening more generally. By the early 1990s, capital controls appeared to be finished as a serious policy tool for relatively open economies. The conventional view about international financial integration is that it should enable capital to flow from high income countries, with relatively high capital labor ratios, to low income countries with lower capital labor ratios. If investment in poor countries is constrained by the low level of domestic saving, access to foreign capital should boost their growth and it would also allow residents of richer countries to get higher returns on their savings invested abroad. Openness to capital flows can expose a country’s financial sector to competition, spu r improvements in domestic corporate governance as foreign investors demand the same standards locally that they are used to at home, and impose discipline on macroeconomic policies and the government more generally. So, even if foreign capital is not needed for financing, financial openness, to both inflows and outflows, may create ‘collateral benefits’ such as domestic financial sector development which could enhance growth in total factor productivity[1]. Capital account liberalization in financially repressed economies often leads to a period of rapid capital inflows followed by financial crises with international financial integration and policy agenda for further liberalization of capital inflows. Concern has also been expressed as to whether the costs of increased vulnerability to financial fragility might not outweigh the gains from financial integration. But most of the countries continue to progress in dismantling capital controls to integrate their financial markets with the rest of the world. 1.2 Justification and Relevance of the Study Economic growth is thought to be a function of investment and other factors. The conventional belief is that foreign capital inflows bring new investible funds and foreign exchange with which the recipient country can achieve higher rates of investment and therefore growth. The role of foreign capital in economic growth is an issue that has provoked continuous debate. Foreign capital augments the total resource availability in a country, but its impact on investment and economic growth is controversial. If judiciously used, it could have favorable effects on economic growth through higher investment and other positive effects. But it is also possible that foreign capital investment might not yield any net benefit to the host country. Economic liberalization and globalization have resulted in rapid mobility of resources between nations as to reap the comparative advantage of the respective country. The 1990s saw a number of capital account crises in emerging market economies. The cris es, which were precipitated by a sudden reversal of capital inflows, occurred against the background of financial market deregulation, capital account liberalization, and financial sector opening. Deregulation and liberalization have undoubtedly brought about benefits in the form of greater financial resource mobilization for domestic investment and economic growth. At the same time, this has created new sources of vulnerabilities in the balance sheets of commercial banks, corporations, and the public sector. For Countries that are still in the process of opening the capital account, how best and how fast to proceed remains an unresolved issue. There is no presumption that the resource requirements of implementing a quick transition are either smaller or larger than those of managing a long transition process or administering capital controls. Developing effective regulatory framework takes time, but a lengthy process may create wrong incentives and distortions. A big-bang approach may be appropriate if a prolonged transition is likely to create resistance from vested interests or if different elements of the existing system are so dependent upon each other that a piecemeal reform is not possible without creating significant distortions. International capital movements can support long-term growth but are not without short-term risks. The long term benefits arise from an efficient allocation of saving and investment between surplus and deficit countries. However, large capital inflows may challenge the absorptive capacity of host countries in the short run by making them vulnerable to external shocks, heightening the risks of economic overheating and abrupt reversals in capital inflows, and facilitating the emergence of credit and asset price boom-and-bust cycles. The inflows expanded the available resources for funding productive investments and privatization, and for raising export capacity and helped finance current account deficits. They contributed to the development of domestic financial markets and the efficiency of banking systems. Foreign participation in domestic government securities markets contributed to liquidity of secondary markets and greater sophistication of financial services such as in Hungary an d Poland. FDI helps in transferring the managerial and technological skills, and strengthen domestic institutions. For the European Union accession countries, capital inflows are a mutually reinforcing factor in the process of integration into the European Union[2]. The long term capital flows, particularly of direct investment have been an important factor in the capital account surplus, and the trend of higher long term inflows has intended to be sustained. A major reason for this has been the success of adjustment programes adopted in Indonesia, Malaysia and Thailand in the mid 1980, after a period of instability. In these three countries, an overvalued currency was depreciated, large fiscal deficits pattern was repeated in the Philippines in the early 1990s. In all four countries, macroeconomic stabilization was accompanied by policies to open the economy to foreign trade and reform the financial sector[3]. As a consequence of the foreign capital surge experienced by a number of developing countries, since the early 1990s international economists and policy makers have been debating about whether foreign capital flows should be the object of specific policy. The debate crystallized around two opposite stances. On the one hand, there were those who claimed that capital flows were largely exogenous to the recipient countries and, in addition, very destabilizing. The implication of this view was that the economic authorities should design and implement policies to dampen the impact of capital flows on domestic macroeconomic variables. The opposite position departed from the assumption that capital flows largely respond to domestic variables, be they long-term i.e., those affecting the country’s risk premium, or related to short-term demand management. In either case, there is no need to worry explicitly about capital flows. Policy makers concentrate exclusively on improving domestic policies. An early, and influential, analysis of the capital surge to developing countries ascribes it mostly to the effect of falling international interest rates[4]. There were other factors as well, most of them exogenous to emerging economies. In particular, the recession in developed countries reduced rates of return on capital and made investors look for higher returns elsewhere. Likewise, since the Asian financial crisis, foreign capital has retreated from most emerging economies, regardless of the quality of domestic policies. In some cases, the sudden stop[5] has been particularly traumatic e.g., in case of Argentina and Chile. In Argentina, the sudden stop in capital flows created the fiscal and financial problems. In Chile, it has had less disastrous, although still quite unfavorable, effects. But in all cases, the reversal of the 1990s inflows has been dramatic, and it has been accompanied by a sharp deterioration in growth performance. Building upon Ricardo, the welfar e gains from the international partition of labor are widely acknowledged. The economic policy implication has been to remove exchange rate volatility to foster trade and growth. The impact of exchange rate volatility on trade among two or a group of countries has both a micro and macroeconomic dimension. From a microeconomic perspective exchange rate volatility, for instance measured as day to day or week to week exchange rate fluctuations is associated with higher transactions costs because uncertainty is high and hedging foreign exchange risk is costly. Indirectly, fixed exchange rates enhance international price transparency as consumers can compare prices in different countries more easily. If exchange rate volatility is eliminated, international arbitrage enhances efficiency, productivity and welfare. These microeconomic benefits of exchange rate stabilization have been a detrimental motivation of the European monetary integration process. Low transaction costs play an importa nt role for international and intra-regional trade and capital flows. 1.3 Research Questions We have discussed above about the need of international financial integration, liberalization of capital accounts and potential benefits of capital flows. Many countries in the world opened their capital account to reap the benefits of international capital flows for their economic development and growth. A number of studies have been done so far for the study of capital flows on different issues. Some studies are related with benefits and liberalization of capital account which are: does capital account liberalization lead to growth? by Quinn and Toyoda in 2008; why capital account convertibility in India is premature? by Williamson; financial liberalization and the new dynamics of growth in India by Chandrasekhar in 2008; analysis of the capital account in India’s balance of payments by Ranjan et al in 2004; capital account liberalization and economic performance: survey and synthesis by Edison et al. Some are about the capital flows and economic growth such as; FDI and econ omic growth relationship: an empirical study on Malaysia by Mun in 2008; and what makes international capital flows promote economic growth? an international cross-country analysis by Shen et al, in 2010. While others focused on the impact of capital flows on different macroeconomic variable which are; capital flows and their macroeconomic effects in India by Kohli in 2001; differential macroeconomic effects of portfolio and foreign direct investment by Gunther et al in 1996; effects upon monetary conditions, saving and the domestic financial sector by Henry and Tesar in 1999 and many others. An empirical study of the impact of capital inflows upon output growth has been done by Gruben and McLeod in 1996. The studies mentioned above give an idea about the capital flows and their relation with many economic indicators. These topics of capital flows give us keen interest to explore more and study extensively what could be the possible relation and effects with other variables. Capital inflow to Asian countries brought substantial benefit to them. These flows permitted higher levels of investment, facilitated the transfer of technology, enhanced management skills, and enlarged market access. The Asian countries adopted their policies to translate capital flows into capital formation and related imports, and thereby mitigated pressures on exchange rates. By successfully managing foreign capital flows, the East Asian countries could achieve high growth rates. Moreover, capital inflows which were a blessing to the East Asian economies in their development process, created problems in the nineties due to mismanagement. Countries with sound macroeconomic policies and well functioning institut ions are in the best position to reap the benefits of capital flows and minimize the risks. Some countries are gaining from the capital inflows while some others are having negative impact of this on their economies. India and China are the two emerging economic giants of the developing world. Both the economies have immense natural resources, skilled and unskilled, cheap but quality labor force, huge domestic market and above all the relatively stable political environment. Both the economies hence have vast potential to attract Foreign Direct Investment (FDI) to serve the local market and to become a more important part of the global integration. After China’s entry into World Trade Organization (WTO) China has emerged into the most attractive FDI destination in the developing world. India’s FDI is far below than that of China. Hence, to know more about capital flows in China and India, we have selected these countries for the study of their capital flows and managem ent. Apart from China we have selected Malaysia for the study. Foreign direct investment has been an important source of economic growth for Malaysia, bringing in capital investment, technology and management knowledge needed for economic growth. The most important benefit for a developing country like Malaysia is that FDI could create more employment. In addition, technology transfer is another benefit for the host countries. These three Asian counties attracted capital flows to reap the benefits of financial integration. Capital flows affect a wide range of economic variables such as; exchange rates, interest rates, foreign exchange reserves, domestic monetary condition and the financial system. The developments, which have been done in many Asian countries, have stimulated a keen interest to understand what have been the nature, trend, pattern and economic effects of capital inflows as well as the appropriate policy responses comparatively in the selected Asian Countries. Therefore, here, we are interested to know what have been the surges of capital flows in Asian countries. What caused a need of financial sector reforms in India? How and why liberalization was done and what are the recent trends and composition of capital flows in India? What has been the pattern of capital flows in selected Asian countries? And, further what is the relation of capital flows with exchange rate in selected Asian countries? What could be the policies to manage the flow of capital? To get the answer of the questions mentioned above, some objectives have been set to study and discuss in an appropriate manner. The objectives of the present study have been given below. 1.4 Objectives The broad objective of the present study is to analyze the capital flows comparatively in selected Asian countries. To fulfill the broad objective, there are some small objectives such as: To study the surges of capital flows in Asia; To study the financial sector restructuring, liberalization and capital flows in India; To analyze the trend and pattern of capital flows in India, China and Malaysia comparatively; To analyze the impact of net capital flows on real effective exchange rate and management of capital flows comparatively in selected countries; and To give policy implications. 1.5 Research Design and Methodology The present study is designed to have eight chapters including Introduction and Conclusion. The first chapter is an introductory chapter where the background and justification of capital flows has been given. This chapter gives us a glimpse of the whole study design including the methodology. Liberalization led to greater capital mobility to all the Asian countries and so we are interested to explore more about capital flows. Some objectives are set based on the research questions. To fulfill the objectives, chapter outline has been made. In the second chapter, theoretical perspective of capital flows has been given on various issues related to capital flows. In this chapter a literature survey of existing studies on capital flows has been done and explored what has been the nature, causes and outcomes of capital flows and what kind of financial system and policies are the best suitable to reap the benefits of capital flows. Then, in the third chapter, analysis of surges of capital f lows into Asia has been given. Causes of Asian crisis, consequences, restructuring and improvement of the financial system under various programemes has been given. Average annual growth rate of FDI flows in Asia had been calculated and analyzed to know the surges of capital flows in different regions of Asia. In the fourth chapter, financial sector restructuring in India under various schemes has been given. With the report of Narsimham Committee in 1991, various reforms have been done in money market and capital market. The details of these reforms, different policies improvement in financial sector and their impact on different market indicators has been discussed in this chapter. A discussion of liberalization of the market for international trade and capital mobility in India has been elaborated in the fifth chapter. In this chapter, the trend, pattern and composition of capital flows in India has been analyzed. Percentage of source-wise and industry-wise capital flows in India has also been calculated and analyzed in this chapter. In the sixth chapter, background of capital flows in India, China and Malaysia has been given. Origin and starting of capital mobilization and changing trend of different capital flows in these countries have been analyzed in this chapter. A comparative analysis of trend and pattern of capital flows in India, China and Malaysia has been done in this chapter. A comparative analysis of the relationship between exchange rate and capital flows in India China and Malaysia has been done in chapter 7. For the purpose of empirical analysis to see the impact of net capital flows on real effective exchange rate with some other explanatory variables, OLS method of multivariate linear regression model has been used. Unit root test to fulfill the stationary condition of time series has been done based on three methods; one is ADF test, second is Phillip-Perron test and third is KPSS. A comparative analysis of capital flows and the behavior of real effective exchange rate have been done and then the management of capital in these three countries has been discussed. Conclusion and Policy Implications is the eighth chapter which includes the crux of the present study followed by Bibliography and Appendix. 1.5.1 Countries for the Study The countries for the study of capital flows are chosen from Asia. Selected countries are: 1. India 2. China 3. Malaysia 1.5.2 Data Sources The data for the present study has been taken from various secondary sources. The data sources which have been used in the present study are given below: 1. World Development Indicators (The World Bank). 2. International Debt Statistics (The World Bank). 3. International Financial Statistics (IMF). 4. World Economic Outlook (IMF). 5. Publications of Reserve Bank of India like: i. Report on Currency and Finance. ii. Handbook of Statistics on Indian Economy. 6. UNCTAD database. 1 [1] Eswar S. Prasad and Raghuram G. Rajan, â€Å"A Pragmatic Approach to Capital Account Liberalization†, Journal of Economic Perspectives, Volume 22, Number 3, Summer, 2008, pp. 150-153. [2] See Inci Otker Robe, Zbigniew Polanski, Bany Topf and David Vavra, â€Å"Coping with Capital Inflows: Experience of Selected European Countries†, IMF Working Paper, WP/07/190, 2007, pp. 7. [3] Linda M Koenig, â€Å"Capital Inflows and Policy Responses in the Asian Region†, IMF Working Paper, WP/96/25, 1996, p. 6. [4] Also see Calvo, Leiderman, and Reinhart, 1993. [5] Calvo, Izquierdo, and Talvi, have felicitously labeled this term, 2002, pp. 3-4

Can Logging Help the Enviorment Essay -- Environment, Saving Forests

The Earths forest hold up to 90% of the terrestrial plants and animal species (Heaton 76). About 13 million hectares of the world’s forests are cut down each year (FAO 2005). Forests also hold 25% of modern medicines (World Rainforest Movement 28), while the United States is the largest wood consumer in the world; Heaton says that the US, per capita, consumes approximately 330 kg in wood based products compared to 233 kg in Germany who holds second place (WRI 2003). WWF has been trying for years to help with the world’s preservation of forests. WWF’s policy toward conservation of forests states â€Å"†¦[to] influence broader, long-term governmental policy - domestically and internationally - that supports our mission to conserve 19 of the world's most important natural places and significantly change global markets to protect the future of nature by 2015.† Being raised in logging community where logging is not just a livelihood for the citizens, but a major and necessary industry, I have been made very aware of the arguments for both sides. However, the media tends to be biased in favor of environmentalism. We have myriads of organizations that are formed just to prevent further damage to our environment and ecosystem. Over the past twenty years, multiple laws have been implemented to try and save forests across America as a result of petitions, protests, and people wanting to do well for the environment. I want to believe that by reducing logging and by expanding our national forests to save the ecosystem and animal habitats, the problem of depletion of forests would be solved, however, these hopes, that are the same hopes of environmentalist organizations, of banning logging are neither ideal nor logical. I would like to know if th... ...ry, and it’s incredibly difficult for the government to put a complete stop to the practice. The human race has used wood since the dawn of man. We are so dependent on this material that we have exhausted or resources to the point of certain plant and animal species are now on the verge of extinction or already nonexistent. But, there is hope for the forests around the world. Organizations, such as WWF, FSC, SFI have shown great results for saving natural resources, and in the cases of FSC and SFI they have reused and recycled many items without further harm to the planet. I think that with further study in biodiversity, we could create a huge impact for future generations to come that would prove to be quite useful. I think that if this research was to commence that there would be a greater understanding of our environment and how to handle and treat it better.

Sexism and Film Anaylisis/G.I.Jane

The movie G. I. Jane was written by Daniel Alexander. The film was directed by Ridley Scott and was released in 1997. The film is about a female senator that succeeds in getting a woman, Jordan O’Neil (Demi Moore), into the Navy SEALS training. If women compare favorably with men in a series of test cases, the military will integrate women fully into all branches of the Navy. The female character goes through rigorous training right alongside the men. Everyone expects the woman to fail during the intensive training that a SEAL must complete. O'Neil faces sexism and physical challenges as she struggles to complete the training at the same quality or better than her male counterparts. The film’s title is interesting because it immediately draws attention to the difference between the commonly, known cliche of G. I. Joe to G. I. Jane. The title stands for a woman in the military which is not the norm. The film opening shows the unrest on the subject of fairness to women in the military. Throughout the film, there are scenes discussing the inequality in the military for women. The scene where the senators are discussing selecting a woman and then the scene when O’Neil is selected set a tone for the film showing the unfair manner in which women are treated in the military. Continuing the unfair treatment, the scenes during the basic training and the scene showing how the officers abuse O’Neil reinforce the problems faced by a female in the military. Sexism is a hurdle that any woman in the military must confront. In the film, darkness and dimmed lighting sets a mood where there is some mystery or some violence involved. The director uses one scene that is seen through the eyes of G. I. Jane to give the viewers a real feel for how G. I. Jane sees the world. The scene is where O’Neil fights her Master Chief and features a wide variety of camera angles while focusing in on O’Neil fighting to free her teammates. A climaxing scene in the film is when O’Neil is given the poem â€Å"Self Pity† and is then congratulated by her Master Chief. O'Neil fights back and wins his respect and that of the other trainees. This scene sums up all of the good work and success achieved by O’Neil in the Navy SEALS. In this case, O’Neil has conquered and won the battle of sexism facing women in the military. O’Neil has proven she has the physical strength to compete with the men. The film shows that sexism is unnecessary, but unfortunately will probably exist forever. In this movie, sexism is thrown out the door as Demi Moore’s role in the movie proves sexism is outdated. The film shows that adversity can be overcome. Another piece of literature that has a similar theme is A Jury of Her Peers that deals with women being under appreciated. In the short story, a country attorney speaks with sarcasm to women and pokes fun at the women for occupying themselves with little things while the men were investigating a murder. All the while, the men were missing the details and clues that would help explain what happened during the murder. In this story and in the movie G. I. Jane, men underestimate what women are capable of accomplishing.