Explication of a Poem Essay Example | Topics and Well Written Essays - 750 words

Elucidation of a Poem - Essay Example The primary thought of the sonnet is that the artist considers night to be opportunity, not daytime, which is eccentric. arms wide despite the sun, Dance! Spin! Spin! Till the fast day is finished. Rest at pale night... A tall, thin tree... Late evening coming gently Black like me† (Hughes, 2010). The thought is that the storyteller might want to spin and turn in this sensation way, and is along these lines shouting out a desire that is futile. The still picture of the tree is a sensation complexity to the move. These exceptionally visual images additionally have figurative significance in the sonnet as individuals of color and white individuals. The thought is that the artist storyteller is outwardly getting through the shows of utilizing light and splendid to mean great, and haziness to mean underhandedness, and requesting that the peruser identify with night. As far as analogy, as noted over, the storyteller recognizes themselves with night just as a tree. â€Å"To toss my arms wide In some spot of the sun, To spin and to move Till the white day is finished. At that point rest at cool night Beneath a tall tree While night goes ahead delicately, Dark like me-That is my dream!† (Hughes, 2010). The primary comparison is of the dim. as the sun and the night, or night and daytime. Langston Hughes responds to the fundamental inquiry with more inquiries, since this is a Socratic technique for looking for the appropriate responses. As far as whether his perspectives are political and cultural, in the event that one can't state that the creator has the two purposes, the outcome would be towards cultural as opposed to political, since there are no names named, or parties supported, in Hughes’ work. There were additionally other ground-breaking cultural pundits, who didn't unequivocally include governmental issues in her composition, yet rather pointed towards social concerns. There are numerous likenesses and contrasts between the works. Generally speaking, both would like to accomplish the objective of cultural evaluate. The most

The role of environmental management is one of the most rapidly Research Paper

The job of ecological administration is one of the most quickly changing territories of the board. Its center has moved from reactin - Research Paper Example In the natural administration structure, there can be various upper hands (Esty and Winston, 2009). They incorporate a company’s cost structure, client, support, conveyance system, and item contributions. This paper will talk about the moving job of natural administration utilizing the ecological expenses to upper hand as the extent of the paper’s center. Foundation Environmentalists see natural expenses as one of the crucial bookkeeping data that requires the capacity of the board to deal with its profitability and authoritative choices so as to accomplish assessment and execution of its work fittingly (Esty and Winston, 2009). In places where ecological expenses are a piece of the significant doorways applied by organizations to improve their ability to contend, odds of lessening costs, expanding intensity, and expanding productivity are high (Sharairi and Awawdeh, 2011). These circumstances are just reachable when an organization concentrates much on methods of servi ng clients from the monetary, wellbeing, and social point of view connected to the set objectives. Especially, the use of budgetary bookkeeping and support of fiscal summaries is generous for organizations when all is said in done as it improves the part of securing the proper information and data for organization exercises (Hitchens, 2002). So as to get the pertinent information which is fit for keeping responsible ecological costs that suit the administration of the earth, organizations must utilize different techniques that can give this applicable data (Esty and Winston, 2009). In any case, writing surveys demonstrate that most organizations are neglecting to accomplish upper hand over their adversaries in the market basically in view of coming up short on the fundamental instruments for natural administration costs. This issue is causing such organizations entire bunches of money related misfortunes, showcase favorable position, and failure to consent to the set ecological guid elines and guidelines (Hitchens, 2002). Unmistakably, there is a need to have realistic methods of tending to such issues so as to have these organizations take part in better ecological practices, prestigious methods of keeping good natural cost records, and increase upper hand in the market (Sharairi and Awawdeh, 2011). Techniques The examination planned for recognizing the impact of natural expenses over the upper hand of organizations when all is said in done yet chose to consider, especially, the pharmaceutical firms in Jordan (Esty and Winston, 2009). By the utilization of meetings, the examination considered distinguishing the effect of all the anticipation operational expenses on the upper hand conveyed in pharmaceutical organizations in Jordan. With surveys, the exploration planned for distinguishing the impact the estimation and stock exercises costs have over the company’s upper hand (Sharairi and Awawdeh, 2011). Utilizing subjective and quantitative arrangement of examination, the investigation recognized the effect of control exercises costs over the upper hand of the studied pharmaceutical organizations in this city. At last, the examination presented the utilization of shooting, note taking, and recording strategies in recognizing the impact natural disappointments have over the pharmaceutical organizations in Jordan (Hitchens, 2002). Results and conversation After the investigation, the

The Advantages of Late Exit Bilingual Education

Envision being raised in a family just a single language for as long as you can remember and afterward you needed to move to an outside land where the language is unique. In the event that you had a decision of dynamically learning this new dialect throughout six to nine years or being placed into a homeroom and need to basically show yourself the language by tuning in to others around you which would you pick? Late leave bilingual instruction is a progressively successful type of bilingual training contrasted with the English submersion type of bilingual instruction in the way that there are more advantages and less antagonistic impacts. There are numerous reasons why late leave bilingual training ought to be the decision of government funded schools wherever with high minority populaces. One of the impacts recently leave bilingual instruction is that the understudies would have the option to keep up their social foundation as opposed to surrendering either. Language is a major piece of a person†s culture. Late leave bilingual training gives the non-English talking understudies more opportunity to ace the English language which isn't a simple language to learn in three years as the English submersion methodology instructs. The discoveries of the Ramirez group in 1991 assessing the adequacy of English inundation, early leave bilingual training, and late leave bilingual instruction further demonstrate why late leave bilingual instruction is the one that should be utilized. To see why keeping one†s culture is significant one simply needs to take a gander at how and why this nation was established. The principal Americans from England came here so they wouldn†t need to fit in with everything the leaders of England needed. Migrants established this nation. Probably the best thing about the United States is that there are such a significant number of various sorts of societies wherever you look. The facts confirm that one needs to become familiar with the English language to be fruitful, however driving one to surrender their social foundation is conflicting with everything this nation represents. English inundation does only that by constraining the understudy to surrender their social foundation and language (Faltis 191). Late leave bilingual training permits the youngster to advance successfully through the instructive framework with the guidance given in English to the degree to make this conceivable (Schneider, 1976, p. 128. ). To toss an understudy into a study hall that communicates in a language that isn't comfortable to them and constraining them to modify in three years like English inundation does isn't reasonable for the understudy. A do or die procedure isn't useful and can cause a larger number of damages than great. The English language takes longer than that to pick up dominance in any event, for individuals who have a firm English base to begin from. The normal time to ace the English language is somewhere in the range of four to nine years for the normal individual (Collier, 1992). Understudies who don†t have the opportunity to build up their L1 or English won't prevail on the whole English study halls (Cummins, 1981). Time is required for advancement, which is simply not offered with English inundation. I was in a class with three Hispanic settlers while I was in secondary school. They knew no English and had to adjust to the all-English condition through English inundation. The classes were hard for English talking understudies not to mention understudies who didn†t comprehend what was happening around them. True to form by the onlookers of these understudies, the settler understudies got through the class with D-‘s simply because the educator felt it was the best thing for them. We have to understand that these non-English talking understudies and other like them who experience the English drenching project will move on from secondary school by the benevolence of educators and won't be set up to be effective in the purported ‘real world†. This leads me to insights that further the idea that late leave bilingual training is more powerful than English inundation. These outcomes were distributed in the Ramirez report. The Ramirez report contains some significant proof that recommends late leave bilingual training is the more advantageous program to utilize. By taking a gander at the report plainly even educators of the English submersion system accept that a large number of the understudies in their classes would be in an ideal situation in the event that they stayed in the program for more than the three years that it takes now. The report has proof that proposes the understudies ought to be given guidance in their essential language until they can benefit from the English just guidance. Another significant detail that came out of the Ramirez study was that the home language of the understudy ought to be utilized for guidance and as a path for guardians to help their youngsters in their learning. Parental contribution seems, by all accounts, to be the best in the late leave program. The examination recommends that schools ought to investigate how they may utilize the students† home language to get the guardians associated with the tutoring of their youngsters. Regardless of whether it†s from the Ramirez report, my own encounters, or the way that it takes over three years to try and draw near to acing the English language it is obvious to see that the English submersion program isn't the best approach, but instead late leave bilingual training. On the off chance that government funded schools need to set up the minority understudy for the world after secondary school they have to utilize late leave bilingual instruction and give them the most obvious opportunity to succeed while simultaneously permitting them to keep there social and local language. Obviously there are more advantages to late leave bilingual training contrasted with English submersion.

How to Write a Good Articleâ€Quickly

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The Leadership Lessons of Jesus Christ Essay - 4531 Words

The Leadership Lessons of Jesus Christ When we talk about Jesus as a leader, we may imply two different forms: Jesus as the only Son of God, God of the universe, or the risen Christ as being one with God; or Jesus as the 1 st century flesh and blood human being, the historical figure. Since the purpose of studying leadership is to improve ones own leadership skills, it makes sense to analyze Jesus applicable traits, actions, and accomplishments as a good leader—in his historical role—so his leadership skills can be feasibly related to ourselves as human beings. I will attempt to analyze, using modern leadership criteria, how Jesus of Nazareth, the Jew and carpenters son, was an effective spiritual leader of his time. Let us first†¦show more content†¦Jesus gave a frank opinion about his purpose when he said, â€Å"Do not think that I have come to abolish the Law or the Prophets; I have not come to abolish them but to fulfill them† (Matt. 5:17). Cronin adds, â€Å"Leaders are people who know who they are and know where they are going. . . . [They] must be self-reliant individuals with great tenacity and stamina† (36). So aside from the common interpretations that Jesus was the Son of God or the Messiah (sent to earth to be king and deliverer of the Jews), Jesus was an intelligent man, who usually knew what to say and when to say it. N.T. Wright writes, â€Å"Jesus spoke of himself as a prophet, he behaved as a prophet, and when others referred to him in this way he did not correct them† (33). Before we can explain how Jesus articulated his vision, we must first examine what his vision was. Wright writes, â€Å"Jesus was a first-century Jewish prophet announcing Gods kingdom. This was the very center of his mission and message† (33). Most likely, Jesus would say his goal was to do Gods will in order to fulfill the prophecies (as predicted in the Old Testament) and save the â€Å"lost† (Matt. 18:11, Luke 19:10). Since he was sent to earth as a means for people to get to heaven, his vision was that people could developShow MoreRelatedLeadership Lessons of Jesus Christ4625 Words   |  19 PagesGreg Meholick Research Paper The Leadership Lessons of Jesus Christ When we talk about Jesus as a leader, we may imply two different forms: Jesus as the only Son of God, God of the universe, or the risen Christ as being one with God; or Jesus as the 1st century flesh and blood human being, the historical figure. Since the purpose of studying leadership is to improve ones own leadership skills, it makes sense to analyze Jesus applicable traits, actions, and accomplishments asRead MoreLeadership Styles : Jesus As A Servant Leader914 Words   |  4 PagesLeadership Styles Jesus as a Servant Leader Leadership from a Christian perspective focus on theological expositional, worship facilitation and communication skills. Many leadership styles pass over the one role model Jesus Christ, who should be the main focus of any leadership style. The focus of growth on each individual and their achievements and full potential distinguishes servant leadership from all other leadership styles. The service of the followers is the main concern of the servantRead MoreEffective Leadership Approaches From Biblical Perspective Essay1344 Words   |  6 PagesIntroduction Effective leadership approaches from a biblical perspective consist of God’s nature in his manifested character. Christian leaders are willing to pay the price to lead in Christ’s affliction. Paul said there is a price to pay in order to lead and Jesus reminded us, â€Å"Remember what I told you: A servant is not greater than his master. If they persecuted me, they will persecute you also. If they obeyed my teaching, they will obey yours also† (John 15:20, New International Version).Read MoreThe Impact Of Life Of Jesus Christ1158 Words   |  5 Pagesinfluential leaders in history is Jesus Christ. Regardless if you are religious or not, there is no denying the influence Jesus had on the world. He lived a life that has influenced and guided millions of people and his story has been heard by countless numbers of people across the globe. In this report, I will be discussing the impact of the life of Jesus Christ, his style of leadership, the impact his leadership has on leadership today, and my perception of Jesus as a leader. Jesus’s influence onRead MoreLeadership Qualities Of Jesus Christ1312 Words   |  6 PagesSeven Leadership Qualities of Jesus Christ There can be no doubt or question that Jesus Christ was the greatest of all leaders known to man. The literal son of God, He was able to command even the elements and they obeyed him. The biblical truths of his teachings and the pattern of his leadership are valuable to any leader. This paper will identity seven qualities of Jesus Christ and applications of how we can apply those principles in our own lives. 1. Jesus was not self-promoting. As Jesus beganRead MoreLeadership : A Great Leader1551 Words   |  7 Pages Leadership What or who comes to mind when you think about leadership? What is leadership? Leadership is defined as the action of leading a group or an organization. Leadership is not just about leading; it is about being able to lead even with the greatest of adversaries throwing everything they can at you and still being able to succeed as a great leader. When I think about leadership only one man comes to mind, Jesus Christ of Nazareth. 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You must show yourself worthy, be attentive and flexible, and create hospitality atmosphere. I will then analysis to my SHAPE to leadership. When you show yourself worthy; then you are striving to be better than what you prior did. 2 Timothy 2:15 state â€Å"Do your best to present yourself to GodRead MoreSpiritual Shepherdology1197 Words   |  5 Pagesof a Christian leader is that of our Lord Jesus Christ, Stott (2002) informs â€Å"our model of leadership is often shaped more by culture than by Christ (p.113). He went further to suggest, â€Å"Yet many cultural models of leadership are incompatible with the servant imagery taught and exhibited by the Lord Jesus† (Stott, 2002, p.113). According to MacArthur (2002), â€Å"2 Timothy 2, for example, Paul uses seven different metaphors to describe the rigors of leadership. He pictures the minister as a teacher (vRead MoreChristian Leadership Paper1278 Words   |  6 PagesPhilosophy of Christian Leadership Paper I never thought to be a Christian leader. As a matter of fact, I am a person who did not know about God for 26 years. I was the center of my life, and there was no room for God to enter. Even when I was attending church service, I was trying not to be exposed to other church people. In other words, I was the kind of person who was afraid to walk into a life of faith. However, in the past three years, God has changed me in many ways, and showed me so many

The Modern Canadian Newspaper Industry - 1849 Words

Pg. 1 The newspaper was invented to control and standardize information. It allowed rumours to be separated from facts and provided hard evidence. The evolution of the newspaper caused fewer companies to be in charge of press, resulting in biased information that lacked depth. The modern Canadian newspaper industry is only owned by a few companies. This is caused by absent alternative funding which influences market concentration, biased news coverage, and many other negative effects. The news being published lacks diversity and becomes increasingly uniform. Absent funding causes barriers to be broken between business and news, creating an industry that is profit driven. This desire for profit creates monopolies and furthers the issue of biased media. It also heightens competition between journalists and causes downsizing of newsrooms. Absent alternative funding for the Canadian newspaper industry leads to concentration of ownership and influences news coverage to lack diversity. Th e lack of funding for newspaper companies causes concentrated ownership and leads to biased news coverage. â€Å"Media markets are inherently concentrated, and to the extent that market profitability cannot accommodate sufficiently competitive markets, absent alternative funding, the ensuing concentration levels may unavoidably yield biased coverage.† (Germano Meier 2012). When newspaper companies are lacking funding, they may get replaced by bigger companies who have the money to stay inShow MoreRelatedThe Impact Of Media On Indigenous Collective Action1725 Words   |  7 Pages One of the most famous images within Canadian history is that of a tense moment between two men facing each other. The image shows a masked armed indigenous man leaning over the smaller soldier before a moment of apparent confrontation. 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When about 3 m (about 10 ft) of refuse has been laid down, it is covered by a thin layer of clean earth, which also is compacted. †¢ PollutionRead MoreAnalysis Of John Lennon, John Jackson Do Celebrities Die Anymore805 Words   |  4 Pagesmentioned in the text. Therefore, the tone of the essay is directing it towards the same age group as the author. The author of the essay, Karina Onstad, earned several English degrees from two of Canada’s top universities. She writes regularly for newspapers inter alia The Globe and has published three novels up to date. She uses a complex and formal language, as there are a few terms in French and other more compound terminologies, which makes it reasonable to assume that the intended audience is more

Critical Review Hospitality management

Question: Describe about Roger Shu and Suosheng Wang study on CVBs? Answer: This paper will look at the two journals namely, Roger Shu and Suosheng Wang study on CVBs in China taking Hangzou as the destination, published in the year 2012 and Young Sun Shin paper on visitors motivations and destination image taking Korea as a destination, published in the year 2009. Both well versed research with strong discussions that leads to a probable conclusion, yet both have failed to express the final solution in terms of the study. This will be further iterated through a critical review of both these journals. The selection of these journals is done based on the fact that both of them give views and opinions for conventional tourism development in the same region. Whilst YoungSun Shins study is a little extensive in terms of the regional aspect, the other journal gives more insight onto a more segmented approach. For the critical view, conceptual approach, methodology and also the practical implementations shall be discussed in the later sections. YoungSun Shins report lists the methodology of self completion questionnaires and he argues that it is the best method for inferring the desired results. Shin S Young(2009. P-8) states that questionnaires are tried and tested method of getting the most reliable resposes, he infers this from the journal by Hurst, 1994 which argues towards its application and reliability. Youngs direct inference can be stated as a work of putting the conditional acceptance of his concept based on other writers of the same field. According to Shin this method will provide the necessary details for proper result in convention destinations in tourism. Wang R and Wang Ss study however infers that CVBs have been the driving force behind the attractive component of tourism and has been utilized quite efficiently by the Western countries which improved the destination image in terms of business. Wang R and Wang S (2012,p-53) states that the Western countries attraction as a destination for events and business summits are as a result of the key role given to the optimization of CVBs and its optimum role. They argue that without CVBs in place hardly any destination may fulfil the promise of being the first choice for many entrepreneurs. YoungSuns paper mentions that the questionnaire was restricted to five days and was done during a convention. This methodology has been utilized as per the survey instrument used by Crompton and May (1997) featuring motivating and demographic information. This may be argued as a tested and tried instrument in most cases. Again Wang and Shu suggest in their findings that CVBs can be given the full creditability for extending the tourism marketability and for banding a desirable destination. YoungSun Shins findings are aptly put in terms of his conceptualization for the purpose of building a more conventional tourist destination and his findings resonate with the region of his study as a whole. His study seems applicable to the whole region of the South-East Asia and Pan Asia as a whole. Wang and Shu also provide the necessary views and findings that can be deemed fit as per their study for bringing in more of a branding and in the increment in the business aspect of the conventional tourism, however in a segmented way. YoungSun Shin states that differentiated marketing strategies must be implanted, with segmented approach being the definitive approach. He identified that motivation is the problem in literature that will have a lasting effect on the conventional tourism technique. The lack of motivation may lead to the lapse of destinations being branded as an apt place for event management. Segmentation(2009:31) is based on the model of McClearly, 1995 that derives its inference from multi-group data analysis. Wang and Shu on their part have identified lack of Public Private Partnership in the field of tourism in China that renders the business more political rather than money. The problem identified is the strong arm of CNTA(2012:56) which does not allow a more dynamic approach towards the conventional tourism techniques and healthy event management. Although they cite Vallee,2008 for their purpose of bringing a more clearer picture of the dependency of the tourism industry butt from the work of V allee a conducive decision or solution cannot be reached. As the authors are taking only a segregated view it is not justified. Similarly YoungSunShin cited McClearly,1995 and Formica and Uysal, 1998 for his problem his final findings may not be conducive to other regions of the world because all these studies have been done on a more closed and segmented way. To reach to these conclusive results YoungSun Shin does an extensive study on motivation for which he collects data through the five day convention from different individuals present. The data is analysed as on clusters with motivation kept as the key. These datas were collected as in questionnaires of which 85% usable data was collected. Using the collected data the theory was thus formulated towards the primary conclusion. This is an achievement as the number of respondents were above the average number that may have been required. The response rate of above 70% is commendable with it being segregated in terms of age, sex and motivators. However many issues must be addressed for this methodology. First self administered questionnaires focuses only on the motivational feature of the conventional tourism and event management and leaving other aspects, during the study it may be noted that Shins focus on the key factor becomes a formality rather than a stringent approach. Wang and Shu in their findings state that they have realised four sections of an organization operating around China which has utilized CVBs functionality to its best possible way and henceforth have added to their business successes. However they have reached this conclusion based on a comparative study and not through any data evaluation. This renders a doubt in the authenticity of the result as in many cases than naught comparative study may very well be inconclusive. The segregated methodology of YoungSun Shin and the segmented and comparative methodology of Wang and Shumake it very hard for anyone to have a conclusive affirmative on their findings, although the initial concept is of tremendous value as both of them can be cited for further study based on these two methods. Lastly it may be safe to state that for a region of South East Asia these methodology and findings may very well prove to be the initial thrust needed on the conventional tourism and event management theories and practices. References 1. Shin, Y.S. (2009). Examining the link between Visitors motivations and Convention Destination Image. An International Multidisciplinary Journal of Tourism, Volume 4(2). 29-452. Wang, S. and Shu, R.(2012). Call for fully functional and distinct CVBs in China: a case of Hangzou.Journal of the college of Tourism and Hotel Management, Special Issue, pp-52-64.3. Bailey, A.W., and Fernando, I.K. (2012). Routine and project-based leisure, happiness, and meaning in life. Journal of Leisure Research, Vol.44, pp-139-154.4. Bailey, A. W., and Russell, K. C. (2010). Predictors of interpersonal growth in volunteer tourism: A latent curve approach. Leisure Sciences, Vol.32, pp-352-368.5. Beedie, P. (2008). Adventure tourism as a new frontier in leisure. World Leisure Journal, Vol.50 (3), pp- 173-183.6. Brown, C.A., and Smith, F.R. (2010). Wine tourism: A serious leisure approach. Journal of Service Science (JSS), Vol.3 (1), pp-29-34.7. Foley, C., and Hayllar, B. (2007). A tale of two caravan pa rks friendship, community and the freedom thing. Tourism Today, Vol. 7, pp-7-28.8. Getz, D., and Patterson, I. (2013). Social worlds as a framework for event and travel careers. Tourism Analysis, Vol. 18(5), pp- 485-501.

United States and the Second World War

The two-volume compilation by Jonson Michael offers a varied collection of voices from the country’s past. Documents 25-1 and 25-3 provide important information regarding the position of the US in the Second World War. The articles accentuate significant issues as regards to social, political, and economic themes of the US during the Second World War.Advertising We will write a custom critical writing sample on United States and the Second World War specifically for you for only $16.05 $11/page Learn More In article 25-1, Johnson claims that the US was forced to join the war after the attack on Pearl Harbor. Consequently, Germany declared war on the US after four days. The Japanese officials had been taking American officials on a ride by claiming that there was no need of diplomatic relations between the two states. After analysis, it was discovered that the Japanese had planned the attack even before tricking Americans to believe that they were not willing to attack American residents. The head of state, Roosevelt, expressed his disappointments by claiming that the attack would always remain in the American faces. Document 25-3 summarizes some of the tribulations that the Jews experienced under Hitler. The Nazi anti-Semitism was felt in the American public. The Nazi regime had persecuted many Jews since 1930s according to Varian Fry. The articles present a clear understanding of what was happening at the time America was attacked by the Japanese. According to article 25-1, the attack on the Pearl Harbor was one of the reasons that forced the US to join the war. The American constitution stipulates that the congress should approve the budget to provide the government with funds to respond to external aggression. The head of state has powers to declare war as per the prerogative powers granted to him or her by the law. This is according to the John Locke’s theory of emergency powers. Roosevelt had to declare war in or der to safeguard the integrity and sovereignty of the American people. Japan could have utilized the chance to interfere with American activities in case the president decided to keep quiet. Furthermore, the US could have lost its position in the international system if it had not responded militarily. The articles explain the interests of any sovereign state in the international system. In the international system, states exist according to the Hobbestian state of nature. In the state of nature, human beings are brutal and nasty. There is no Leviathan in the international system that is charged with the responsibility of ensuring peace. Germany under Hitler advocated for atrocities in order to achieve state interests. Japan decided to attack the US to achieve its national interests that is, greatness. The US on the other hand could not sit back and watch Japan intimidate its citizens. It had to act immediately to restore its glory. The articles can therefore be applied to understan d the position of the US during the Second World War.Advertising Looking for critical writing on history? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conversely, article 25-1 suggests that the US attacked Japan mainly because of the Pearl Harbor attack. This is not true since there were other underlying issues that encouraged the US to assault Japan. The main issue was related to ideological difference. Article 25-1 claims that Germany declared war on the US as one way of showing solidarity to its allies. The truth is that Germany was not happy with the way the US related with Britain and France. The US had granted $14,281 to European powers, including Britain and France. Furthermore, President Roosevelt had declared that the US had to attack German ship seen in the eastern Atlantic. Technically, the US had already entered the Atlantic War. As regards to article 25-1, the US could have attacked Japan or any other communist state as one wa y of showing military and technological strength. The US was against communist ideologies propagated by Japan and its allies. This critical writing on United States and the Second World War was written and submitted by user Samiya Fleming to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Eco Assignment Essays - Costs, Public Economics, Microeconomics

Eco Assignment Essays - Costs, Public Economics, Microeconomics 6) From economic point of view, what are the main causes of market failure ? From economic point of view, the main causes of market failure are Incomplete markets, Indivisibilities, Common property resources, Imperfect markets, Asymmetric Information, Externalities, Positive Externalities of Production, Negative externalities of production, Public Goods and Public Bads. In this present reality, there is non-achievement of Pareto optimality because of various requirements in the working of immaculate rivalry. A vital reason for ecological corruption is business sector disappointment. It implies poor working of business sectors for ecological merchandise and administrations. It reflects disappointment of government arrangement in uprooting business sector twists made by value controls and endowments. Based on Incomplete markets statement, Markets for certain things are incomplete or missing under perfect competition. The absence of markets for such things as public goods and common property resources is a cause of market failure. There is no way to equate their social and private benefits and costs either in the present or in the future because their markets are incomplete or missing. Based on Indivisibilities statement, the Paretian optimality is based on the assumption of complete divisibility of products and factors used in consumption and production. In reality, goods and factors are not infinitely divisible. Rather, they are indivisible. The problem of divisibility arises in the production of those goods and services that are used jointly by more than one person. An important example is of road in a locality. It is used by a number of persons in the locality. But the problem is how to share the costs of repairs and maintenance of the road. In fact, very few persons will be interested in its maintenance. Thus marginal social costs and marginal social benefits will diverge from each other and Pareto optimality will not be achieved. Based on Common property resources, Another cause of market failure is a common property resource. Common ownership when coupled with open access, would also lead to wasteful exploitation in which a user ignores the effects of his action on others. Open access to the commonly owned resources is a crucial ingredient of waste and inefficiency. Its most common example is fish in a lake. Anyone can catch and eat it but no one has an exclusive property right over it. It means that a common property resource is non-excludable (anyone can use it) and non-rivalrous (no one has an exclusive right over it). The lake is a common property for all fishermen. When a fisherman catches more fish, he reduces the catch of other fishermen. But he does count this as a cost, yet it is a cost to society. Because the lake is a common property resource where there is no mechanism to restrict entry and to catch fish. The fisherman who catches more fish imposes a negative externality on other fishermen so tha t the lake is overexploited. This is called the tragedy of the commons which leads to the elimination of social gains due to the overuse of common property. Thus when property rights are common, indefinite or non-existent, social costs will be more than private costs and there will not be Pareto Optimality. Based on imperfect markets statement, Pareto efficiency increases under perfect competition. But it declines under market distortions or imperfections. Let us consider a case of monopoly. Initially, monopoly equilibrium is at point E where the private marginal cost curve, PMC, cuts the marginal revenue curve, MR, from below. The monopolist produces OQ1 output at OP1 price. But the production process generates smoke in the air. Therefore, the pollution board levies a tax equal to on the monopoly firm. The imposition of a pollution tax is, in fact, a fixed cost to the monopoly firm. Now the social marginal cost curve cuts the marginal revenue curve at point e. The monopolist increases the price of his product from OP1 to OP2 and restricts output to OQ2 and thereby reduces consumers surplus to Q2 MLQ1 (= OQ1 LP1 OQ2 MP2). In fact, Q2 MLQ1 is the social cost of OQ2 output. But the net loss to society is Q2 MLQ1 TE= eMLT, the shaded area in the figure. Based on Asymmetric Information statement, Pareto optimality assumes that producers and consumers have perfect

The Continuum between Legitimacy and Fraud Research Paper

The Continuum between Legitimacy and Fraud - Research Paper Example This essay discusses that Shawver, an Associate Professor of Accounting at King’s College, and Clements, a Professor of Accounting at Florida Southern College, are trying to explain the effect of emotion on ethical evaluations of earnings manipulation. In the accounting context, it is evident that there some emotional interplay between the evaluation of earnings manipulation. This is because the perpetrator of the manipulation is usually an accountant, and the person investigating the manipulation is also an accountant. The authors state that prior research suggested that emotions might shape the ethical evaluation and decisions made by an individual, therefore, the research goes on to explore the emotion that an accountant might feel when evaluating earnings management.Yang, a Professor of Science and Technology, Lai and Tan, Professors of Accounting, try to determine the relationship between ownership structure of firms and the types of earnings management. The authors class ify insiders as part of a firm’s executives in their research, and from this, determine that the quality of earnings management is affected by discretionary accruals. Specifically, the accruals in the firm fluctuate with executive ownership, indicating that that equity stakes by top members of a firm should be reduced in order to reduce agency costs and relationships. This ensures that the earnings reflected by management are less fraudulent that in other firms that do not have top executives in top-tier management positions.... Female Directors and Earnings Management in High-Technology Firms. Pacific Accounting Review, Vol. 24(1). Pp. 4-32. Gavious and Yosef, Professors of Management, and Segev, the Department of Social Work specialist, wrote this paper to try to explain the effect of the presence of female members in the board of directors and the audit committee. This study was aimed at finding the relation between female directors and the continuum between legitimacy and fraud in earnings management. The study indicates that there is a negative relation between the presence of female directors and earnings management, and that there is always a higher firm value when female representation is higher in higher positions of a firm. The authors quote the moral values of the different genders in supporting this argument, social stereotypes and the women’s motivation and sense of achievement. Ho, J. L., Liu, C. & Ouyang, B. (2012). Bloated Balance Sheet, Earnings Management, and Forecast Guidance. Revi ew of Accounting and Finance, Vol. 11(2). Pp. 120-140. In this paper, the authors, all of them being Professors of Accounting, try to postulate Barton and Simko’s argument that balance sheet information usually acts as a constraint on accrual-based earnings management in a firm. The authors do this by examining the effect of the balance sheet constraint on the manager’s tendency to use either downward forecast or earnings management to avoid downfalls in earnings. The authors find that in cases where the operating assets are higher than average sales, the analyst is likely to provide downward trends of forecasts. In contrast, in cases where there is abnormal increase in production costs and reduction in expenses, the analyst is likely to engage in legal earnings management. This paper

Materials selection for made umbrella Coursework

Materials selection for made umbrella - Coursework Example Other parts include the spring, the runner and the finial or ferrule. This paper will discuss the materials suitable for making the pole or shaft, the canopy, and the ribs. The pole is the metallic or wooden shaft that connects the handle to the canopy. The shaft should be strong enough to withstand different forces such as part of the weight of the user (if used as a walking stick), and to avoid breaking during windy conditions. The shaft of the umbrella should be rust resistant as it commonly gets into contact with rain water. The shaft should also be made of a material that is light so that the overall weight of the umbrella is bearable. One material that is suitable for use in making the umbrella shaft is aluminium. Aluminium is more suitable for use as an umbrella shaft compared to steel, wood and other materials for several reasons. First, compared to wood, it is not affected by moisture making it suitable during rainy days (Ashby, Rayner, & Hunkin 2012). It also does not rot or gets eaten by pests such as termites, and it can withstand changes in temperature without bending or loosing shape. Compared to steel, it is light in weight and is not su bject to rust, making it more durable and long-lasting (Ashby, Rayner, & Hunkin 2012). In terms of cost, aluminium is relatively inexpensive and readily available. The canopy is the part of the umbrella that serves to keep away the rain or shield the user from sunshine. The canopy should be made of a light material that is foldable. The materials should also be washable if its get dirty. The material used to make the canopy should not be one that gets easily destroyed by water or ultraviolet rays. Most important is that the material should be water proof so that the user does not get wet in the rain. One material that is suitable for use in making the canopy is the canopy is nylon taffeta. Nylon is water proof and more durable compared to cotton and other materials

Business Ethics & Professinal Ethics Essay Example | Topics and Well Written Essays - 1250 words

Business Ethics & Professinal Ethics - Essay Example This is a broad core value, but becomes a necessity as a law enforcement officer. As a law enforcement officer or FBI agent, I would be investigating homicides, kidnappings, white collar crimes, and various other offenses. I must be prepared to investigate with the same amount of vigor every case I am assigned. For example, if I arrest an African American, white, Arab, or anyone else, I must treat them the same. If I was investigating the kidnapping of the President’s daughter or a homeless man’s daughter, I must put the same amount of effort in to the investigation. Profiles are used to track criminals, especially in the FBI. However, I must not racial profile, only criminal profile. All American citizens or individuals living in America deserve justice. A cop must follow certain rules to achieve justice for all. It is important to understand that justice sometimes cannot be achieved for all, but the goal is to try to achieve justice for all. In order to do this a few rules must be followed. One example is a suspect’s Miranda Rights. These are rights to remain silent, request a lawyer, or have a lawyer appointed to the suspect. If these Rights are not read, justice cannot be achieved for the suspect or the victim. Innocent suspects can be railroaded or guilty ones can go free, if a cop does not follow the rule of reading the Miranda Rights. Another rule to follow, that some police officers do not observe but should, is the keeping of the laws they enforce. Humans, even police officers, are not perfect. A speeding ticket should not strip a police officer from their post, but more serious offences should. For example, DUI’s, bounced checks, and definitely felonies should cause a police officer’s dismissal. An officer’s integrity would be in question if they commit a crime. They would no longer be able to search for justice, because justice needs to be enforced by those that obey the law. Finally, the last rule

The Impact of Music on the Mind, Body and Spirit Essay -- Exploratory

The Impact of Music on the Mind, Body and Spirit Music is fun. The very mention of the word seems to stir emotions that are exciting and interesting. The mind shifts to recall memories that have long passed, moments that could presently be experienced, or future events that will hold a place in one's heart and mind. In everything, there is sound. Where there is sound, there can be music. Where there is music, activities are taking place with implications affecting one's path in life. In an elementary schoolroom, kindergardeners are learning the ABC song to go home and sing to their parents. Later, these kids are learning to not step on their date's feet on a gym floor at their first school dance. Years later, a team is preparing with exhilarating sounds to clash with their rivals. As this class of students is graduating, they reminisce during their class song. These events will shape their lives with the things they have learned along the way. I am a music fan and a supporter of learning, and, with this project, I learned that both had a connection. As a report, this paper tells of the ways having music in one's life benefits mentally, physically, and emotionally. The power of music stimulates brain growth in the uterus and during the early years of childhood. Also, it positively affects emotional awareness and attitudes from before birth and onward. One can build a comprehension of the world by the provision of patterns given by music. The ability to crawl, walk, and run is developed with more ease. Additionally, the use of sound improves language arts, which vocabulary and expressiveness. "As an integral part of culture, past and present, it helps pupils understand themselves and relate to others, forging important links... ...thin You. Simon & Schuster, Inc. New York 1985 p.186 Leviton, Richard. Brain Builders! West Nyack, NY: Parker Publishing Company, Inc. MENC staff. "Music Education Facts and Figures." Music Education Facts and Figures. December27,2003.[online]Available:http://www.menc.org/information/advocate/facts.html Nqnet. "Welcome to Instep Online." Accelerated Learning-Music to Help You Learn. December 19, 2003.[online]Available:www.nqnet.com/accelerated_learning.html Ortiz, John M. Nurturing Your Child with Music. Hillsboro, OR: Beyond Words Publishing, Inc. Schoen, Max. The Psychology of Music. The Ronald Press Company. New York 1940 p.91 Vos, Jeannette. "Parenting for K-6 Children." Music for Education. December 27, 2003. [online] Available: childparenting.about.com Weinberger, Norman M. "The Music in Our Minds." Educational Leadership Nov. 1998:36-39

Sase study on leadership skills Essay

Mary Herzen felt lucky to be hired for the supervisory position in the Patient Services Depart-ment at North side Hospital. She had lost a similar job at Central Hospital three months earlier. Chris Sapiro was Mary’s boss and had conducted the selection process. It took him five months to fill the position as a result of the internal job-announcement and job-interviewing procedures. Two employees in the Patient Services Department had applied for the supervisory job: Juanita Ramirez, 32, who had been in the department for eight years, and Sue Williamson, 26, who had less experience. Both were rejected because they were not seen as strong enough to be promoted. Chris told Mary about this when he met with her on Mary’s first day on the job. He suggested that Juanita might be a problem and told Mary to handle it the way she saw best. He then took her to the department, introduced her to the staff, and left her to settle in. Later that day, Mary held meetings with each of her new employees. The meeting with Juanita turned out as predicted: she was defensive, uncommunicative, and noncommittal. For example, Mary wanted to learn what Juanita’s job duties were, but could not get adequate replies. Finally, in exasperation, Juanita began arguing that it was Mary’s job to tell Juanita what to do. Mary replied that they would have problems if this was as well as they were going to communi-cate. Juanita then told Mary that she had not been promoted because she was Hispanic, and accused the hospital of discrimination. She began to cry and said she was not going to answer any more questions. Answers to Case Questions 1. Should Chris have informed Mary about the internal applicants before offering Mary the job? Yes. It is important to give job applicants all relevant information about the job for which they are applying. This is especially true for information that might be considered negative. The bulk of research in this area makes it clear that â€Å"realistic job previews† are very important for creating the most favorable initial job conditions. 2. Was meeting with each employee as part of Mary’s orientation a good idea? Although Mary’s idea was backed by good intentions, problems resulted. In general, individ-ual and group meetings both have advantages and disadvantages, and whether one would work better than another for a new supervisor is a matter of personal judgment. One obvious advantage of a group meeting is that certain messages from the new supervisor can be given to everyone at the same time. Another advantage is that the presence of a group has the potential to pressure employees into opening up and sharing what is on their minds. In Mary’s situation, a group meeting could have been especially helpful in this regard, creating an environment in which Juanita felt additional pressure to be more forthcoming. It should also be noted that a new supervisor can also follow up a group meeting with individual meetings, thus combining the two methods. 3. Evaluate the agenda Mary used. How could it be improved? Again, the general intention was appropriate, although the execution was not as good as it could have been. The purpose of the introductory meetings is to initiate dialogue. Mary needed to share information as well as receive it. A more suitable agenda would have Mary share information on such matters as her personal background and goals, her leadership style and practices, her priorities for the near term, and how she would like to work with the employees. She should ask each employee for informa-tion on their job duties, where they stand on projects, any particular problems they are experiencing, and anything else they can tell Mary that would help her supervise CASE STUDY 2: Right Boss, Wrong Company Betty Kesmer was continuously on top of things. In school, she had always been at the top of her class. When she went to work for her uncle’s shoe business, Fancy Footwear, she had been singled out as the most productive employee and the one with the best attendance. The company was so impressed with her that it sent her to get an M.B.A. to groom her for a top management position. In school again, and with three years of practical experience to draw on, Kesmer had gobbled up every idea put in front of her, relating many of them to her work at Fancy Footwear. When Kesmer graduated at the top of her class, she returned to Fancy Footwear. To no one’s surprise, when the head of the company’s largest division took advantage of the firm’s early retirement plan, Kesmer was given his position. Kesmer knew the pitfalls of being suddenly catapulted to a leadership position, and she was determined to avoid them. In business school, she had read cases about family businesses that fell apart when a young family member took over with an iron fist, barking out orders, cutting personnel, and destroying morale. Kesmer knew a lot about participative management, and she was not going to be labeled an arrogant know-it-all. Kesmer’s predecessor, Max Worthy, had run the division from an office at the top of the building, far above the factory floor. Two or three times a day, Worthy would summon a messenger or a secretary from the offices on the second floor and send a memo out to one or another group of workers. But as Kesmer saw it, Worthy was mostly an absentee autocrat, making all the decisions from above and spending most of his time at extended lunches with his friends from the Elks Club. Kesmer’s first move was to change all that. She set up her office on the second floor. From her always-open doorway she could see down onto the factory floor, and as she sat behind her desk she could spot anyone walking by in the hall. She never ate lunch herself but spent the time from 11 to 2 down on the floor, walking around, talking, and organizing groups. The workers, many of whom had twenty years of seniority at the plant, seemed surprised by this new policy and reluctant to volunteer for any groups. But in fairly short order, Kesmer established a worker productivity group, a â€Å"Suggestion of the Week† committee, an environmental group, a worker award group, and a management relations group. Each group held two meetings a week, one without and one with Kesmer. She encouraged each group to set up goals in its particular focus area and develop plans for reaching those goals. She promised any support that was within her power to give. The group work was agonizingly slow at first. But Kesmer had been well trained as a facilitator, and she soon took on that role in their meetings, writing down ideas on a big board, organizing them, and later communicating them in notices to other employees. She got everyone to call her â€Å"Betty† and set herself the task of learning all their names. By the end of the first month, Fancy Footwear was stirred up. But as it turned out, that was the last thing most employees wanted. The truthfinally hit Kesmer when the entire management relations committee resigned at the start of their fourth meeting. â€Å"I’m sorry, Ms. Kesmer,† one of them said. â€Å"We’re good at making shoes, but not at this management stuff. A lot of us are heading toward retirement. We don’t want to be supervisors.† Astonished, Kesmer went to talk to the workers with whom she believed she had built good relations. Yes, they reluctantly told her, all these changes did make them uneasy. They liked her, and they didn’t want to complain. But given the choice, they would rather go back to the way Mr. Worthy had run things. They never saw Mr. Worthy much, but he never got in their hair. He did his work, whatever that was, and they did theirs. â€Å"After you’ve been in a place doing one thing for so long,† one worker concluded, â€Å"the last thing you want to do is learn a new way of doing it.† QUESTIONS: ï‚ · What factors should have alerted Kesmer to the problems that eventually came up at Fancy Footwear? Could Kesmer have instituted her changes without eliciting a negative reaction from the workers? If so, how? Case study 3: Mini Case Study on Leadership and Dysfunctional Management â€Å"Trouble in a Mental Health Center† Alessandro Cavelzani, Ph.D., Psy.D. Ten years ago, a well-known and highly respected hospital located in the center of Rome, opened its Mental Health Center dealing patients with anxiety issues and depression. The administration and its staff included a lead psychoanalyst and four psychologists who were serving as unpaid interns. The leader of the Center supervised the interns who meet weekly in order to help them solve difficulties with patients and to offer clinical suggestions,based on his years of experience. Despite their busy schedules, the interns were required to prepare weekly written reports about their patients for the supervision session with the lead psychologist. The four psychologists felt comfortable, supported, and generally happy with their training. In the past ten years, the Mental Health Center has grown tremendously. It has become well-known in Rome and abroad as a well-organized, professionally run mental health center for psychological treatment. Three years ago, the administrative leader of the Center retired. The Human Resources department of the hospital recruited and hired Dr.xxx, a well-known external psychiatrist, as the new administrative leader and chief psychiatrist for the Mental Health Center. The new Mental Health Center leader has been given a part-time (three days per week) contract because he has other professional commitments at the university and in his own private practice. The Center’s popularity has grown over time. Many local citizens and some foreigners have sought psychological treatment at the Center. To handle the increased patient load, Dr.xxx has increased staff psychologists-in-training from four to eight. In order to provide amore thorough treatment service, Dr. xxx has also added a second group of eight cognitive psychologist interns. Now there are sixteen psychologists-in-training, evenly split between psychoanalytic and cognitive psychologists.Dr. xxx’s many commitments have forced him to schedule supervision meetings with the psychologists approximately every two weeks. Now however the meetings are very tense.Many psychologists try to discuss patients enigma, but the scheduled time is insufficient to accommodate all sixteen psychologists. An additional problem concerns divergent professional philosophies about treatment plans (psychoanalytic vs cognitive), proposed respectively by the two different groups of psychologists. Often, it is almost impossible to reach a common understanding or to compromise on treatment plans for patients. Some young practitioners are voicing complaints that the supervision meetings are useless because Dr. xxx has limited time to help them with the most challenging patient dilemmas. As a result, now only five psychologists –fewer than a third- attend Dr. xxx’s bi- weekly sessions. The other practitioners argue they cannot do any pro-bono work, because they aren’t allowed to leave their offices to attend to

The Topic Of Market Discipline In Banking Finance Essay - Free Essay Example

Sample details Pages: 6 Words: 1838 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Improve market discipline in banking is one of the three pillars proposed by the Basel Committee on Banking Supervision in January 2001. This new Basel Capital Accord contains new rules to respond to the deficiencies of the previous accord on credit risk which was made in 1988. First pillar is calculating risk weights for different kinds of loans by using different rating methods for counterparts like standard method, Foundation Internal rating Based (FIRB), Advanced Internal Rating Based (AIRB). Don’t waste time! Our writers will create an original "The Topic Of Market Discipline In Banking Finance Essay" essay for you Create order Second pillar introduces the principle of a structured dialogue between banking institutions and supervisors. Third pillar is focused on transparency and market discipline. Transparency rules are established for the information made available to the public on assets, risks and their management. In this essay we focus on market discipline to describe how it can be a way to reduce banks risk-taking, why supervisors wanted to introduce this notion in rules of supervision and finally what are the difficulties of enhancing market discipline in banking. First of all we are going to define this concept, what it means and its role in banking and then we discuss factors affecting market discipline and how to enhance it and finally conclude with a brief relief with the recent financial crisis. The concept of market discipline : Market discipline means the responsibility on the banks and financial institutions  to  conduct business while considering the risks to their stakeholders. Market discipline promotes the transparency and disclosure of  the risks associated with  a business. This concept was inserted in the third pillar for improve the safety and soundness of the market. More precisely in banking, it means that banks are more control by the market than they were before, because their stakeholders control their activities and especially on risks of these activities, if they think that business of their bank is too risky, they will demand a higher premium. This phenomenon is the same with banks depositors, if they think there is a big risk of their bank to fail, they will require a higher rate on their deposits or they simply leave this bank to go on other less risky. Thus, in order to not pay a higher premium on liabilities and to convince depositors and other cou nterparts of their financial strength, banks will be encouraged to reduce risks. To enhance the role of market discipline in financial markets, the third pillar requires the bank activities to be transparent to the general public. For this, the bank is supposed to release relevant financial data (financial statements etc) in a timely fashion to the public, for example, through its webpage. This might enable depositors to better evaluate bank condition (the probability for the bank to fail) and diversify their portfolio in accordance. Factors affecting market discipline : The first factor affecting market discipline in banking is the formal deposit insurance which has been established in most developed countries around the world (first introduced in the USA in 1933 after the great depression). Formal deposit insurance is a credible way to prevent bank runs which are very negative for countries economy (it would be too long to explain all negative factors of bank runs in this essay) as we have seen in the 1929 crisis for example. In this case, banks pay a premium to a private or public insurer who repays depositors in case the bank fails. But now the problem is that deposit insurance generates moral hazard problems and the decrease or disappearance of market discipline. The reason why deposit insurance can encourage banks to take excessive risk is, if depositors are sure to be repaid in case of failure they have no more incentives to monitor their bank, while deposits are insured, banks behavior on risks is not their concern. Without deposit in surance depositors will be concerned about the riskiness of banks assets and will require a higher rate whenever the bank increases its risk of failure. Therefore with deposit insurance market discipline imposed by depositors is not effective anymore. And even when insurance is capped, market discipline lost its role because the cap is too High. Second factor is the status too big to fail of some big banks. Too Big to Fail is a phrase referring to the idea that in economic regulation, the largest and most interconnected businesses are so large that a government cannot allow them to declare bankruptcy because failure would have a disastrous effect on the overall economy. As a matter of fact this phrase is true for numerous institutions and their stakeholders. But how this principle can affect market discipline ? Gradually, lenders to big banks understood that their money was no longer at risk. And the banks realized that the bigger and more complicated they got, the safer they would be from market discipline and so they became. Lenders to the commercial banks had known that the government implicitly protected them, and thus didnt worry much about what the banks were doing with their money, including extending to much risky activities. Thus we understand that for lenders, claims are implicitly protect by the countries government, so they dont have any incentives to manage banks risk-taking. This principle is also applicable for stockholders and for the management of banks: As stockholders realized their investment was somewhat protected by governments, they had no incentives to control banks but had incentives that it takes more risk to benefit from any increase in pay related to their shares. Actually benefit from higher leverage of their stocks. And finally, the greater the risk is, the higher the profits are, the greater the shareholders grant compensation to bankers. So, with this principle, bankers and stockholders have strong inc entives to increase banks risk-taking, market discipline is totally inefficient. The base of market discipline: publishing information. The Basel Committee aims to encourage market discipline by developing a set of disclosure requirements which will allow market participants to assess key pieces of information on the scope of application, capital, risk exposures, risk assessment processes, and hence the capital adequacy of the institution. Supervisors have the authority to require banks to provide information in regulatory reports. Some supervisors could make some or all of the information in these reports publicly available. Furthermore, banks management may choose to provide the Pillar 3 information through other means such as on a publicly accessible internet website or in public reports. Information should be generally published on a semi-annual basis, but few exceptions exist. For example the obligation for large international banks and other significant banks to have to disclose their Tier 1 and total capital adequacy ratios, and their components, on a quarterly basis. The new Basel capital accord has defined 13 tables specifying precisely the qualitative and quantitative disclosures to publish to enhance market discipline such as capital adequacy, credit risk, banking book positions on equitiesÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ A way to enhance market discipline: The subordinated debt Subordinated debt is a debt that is either unsecured or has a lower priority than that of another debt claim on the same asset or property. It can be also called junior debt. Subordinated debt has a lower priority than other bonds of the issuer in case of liquidation during bankruptcy, below the liquidator, government tax authorities and senior debt holders in the hierarchy of creditors. Because subordinated debt is repayable after other debts have been paid, they are more risky for the lender and typically have a higher rate of return than senior debt due to the increased inherent risk. This type of debt is uninsured. Argument for subordinated debt is that because of its junior status, its yield should be more sensitive to changes in risk than are the yields of large denomination deposits. In the event of bank failure, subordinated debt holders will be the last in line for recovery of their claims. If all large banks were required to issue the same type of subordinated de bt, market participants and regulators would be able to compare yields associated on these debts and would have an easy means of comparing banks default risk. Then regulators could impose to the banks with the highest yield corrective actions or more rigorous examination, the yield spread which result can also be used to determine a deposit insurance premium for the bank. Thus, impose a certain level of subordinated debt in banks liabilities can be a way to improve market discipline. However, it still exists some problems or interrogations about this role of subordinated debt in enhancing market discipline. One problem is that investors can be more concerned about the liquidity of those securities than in other on the same bank because as subordinated debt has a longer maturity than others, banks which has a narrow secondary market for it or do not trade at all will find that yields incorporate a relatively larger illiquidity premium. Thus yields will be not very represe ntative of the default risk and not easy to compare between banks. Other reason is as Gorton and Santomero have noted, if the risk for subordinated debt-holders to lose all the value of their investment is high, their incentives can be the same as stockholders when the probability of bankruptcy is high. In this case, pay-off distribution of these two different types of investors is the same, and there are incentives to increase risk and reduce control. Last reason is to identify the correct model of the determination of subordinated debts yields. The implicit model in many studies is that investors price the securities according to the perceived level of risk of the banks. But we can also think that investors can price assets regarding the risk that regulators will close the bank. Logically, investors will be less encouraged to monitor a bank considered too big to fail. In conclusion, we can say that market discipline is an important topic in discussions of regulatory autho rities who have also registered as Pillar 3 of the new Basel Agreement. Indeed we have seen that it could be a way to force banks to limit risk in their activities. However it may be affected by several factors like deposit insurance, which is very important too in order to limit bank rushes. A solution might be to impose on banks a certain level of subordinated debt in order to really encourage those creditors to monitor and supervise risks taken by banks. Nevertheless, it also has drawbacks. This will require in the future finding solutions to improve market discipline because we have seen in the recent crisis an inherently riskier banking system because of insufficient incentives and mechanisms to control excessive risk-taking, and a stronger wish on supervisors to protect the banking system, Furthermore, the strong growth of financial innovations, including products more and more sophisticated, in the sense where the risk associated with assets is difficult to col lect, and certain shortcomings in the rating agency have made it difficult to control banks. Thus with the financial globalization, it is increasingly difficult to supervisors to control banks risks, so in the future, the market discipline will probably become more and more important as a complement of banking supervisions rules