Meiji essays

Meiji articles The Meiji government during the 1880's made both an institutional and constitution structure that permitted Japan in the coming a long time to be a stabile and industrializing nation. Two significant approaches and techniques that strengthened steadiness and monetary modernization in Japan were the formation of a national open instruction framework and the approval of the Meiji constitution. Both these helped in dependability and in this way monetary development. The formation of national instruction framework supported in making soundness since it taught youth in the thoughts of devotion, energy, and dutifulness. Japan's training framework from the start pushed free idea and the thoughts of person's investigation of information be that as it may, by 1890 the training arrangement of Japan turned into a device for teaching into what Peter Duus calls a sort of common religion with the Imperial Rescript on Education. This Rescript focused on two things. To begin with, it focused on reliability to the ruler and to a lesser surviving to the state. In each study hall an image of the ruler was set. Second, the training framework focused on selflessness to the state and family. Dutiful devotion was educated in schools and applied not just to the family yet additionally to the national family which included father, instructor, authority and business. The Japanese instruction framework additionally made an arrangement of specialized schools and colleges both open and private that informed a developing class of Japanese on step by step instructions to utilize new western hardware, administrate government and run private enterprises. The Japanese training framework following the Rescript on Education served principally to show individuals what to think what's more, not how to think; and as Edwin Reischauer expressed, Japan spearheaded in the advanced authoritarian method of utilizing the instructive framework for inculcation and was in reality decades in front of nations like Germany in consummating these methods. J... <!

Life Without Plastics free essay sample

The item, webcam 7 (in entire or to some degree, including all records, information, and documentation, from here on alluded to as Software) is  © Copyright 2012 Moonware Studios, all rights saved, and is secured by Switzerland copyright laws, worldwide arrangements and all other pertinent national or universal laws. The sole proprietor of this item is Moonware Studios. Permit Agreement. Title, possession rights, and licensed innovation rights in and to the substance got to through the Software is the property of the material substance proprietor and might be ensured by pertinent copyright or other law. This License gives you no rights to such substance. The Software is given on an AS IS premise, without guarantee of any sort, including without constraint the guarantees of merchantability, readiness for a specific reason and non-encroachment. The whole hazard with respect to the quality and execution of the Software is borne by you. This disclaimer of guarantee establishes a fundamental piece of the understanding. We will compose a custom article test on An existence Without Plastics or then again any comparative theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page  Either gathering may end this Agreement quickly in case of default by the other party. Upon any end of this Agreement, you will quickly stop the utilization of the Software and will inside ten (10) days uninstall the product and erase all duplicates of the Software and Documentation. You may likewise end this Agreement whenever by obliterating the Software and Documentation and all duplicates thereof. Your commitments to pay collected charges and expenses will endure any end of this Agreement. This Agreement speaks to the total and select explanation of the understandings concerning this permit between the gatherings and overrides every single earlier understanding and portrayals between them. It might be corrected uniquely by a composing executed by the two gatherings. Headings will not be considered in deciphering this Agreement. This Agreement will be represented by and understood under Switzerland law. This Agreement won't be administered by the United Nations Convention of Contracts for the International Sale of Goods, the utilization of which is thus explicitly prohibited. Limitations You may not utilize, duplicate, adjust, decipher, or move the item or any duplicate aside from as explicitly characterized in this understanding. You may not endeavor to open or sidestep any duplicate assurance or validation calculation used by this item.

Working With Children NSW for Skills and Qualities - myassignmenthelp

Question: Talk about theWorking With Children NSW for Skills and Qualities. Answer: The setting of my paper, is working with kids. I will investigate my comprehension and information on shielding and basically examine insurance significance in the respect of working with youngsters. I will evaluate the effect the action on network commitment has had on my profession way. I will allude to youngsters and powerless individuals, for example, the incapacitated, to clarify the issues and disarray that may happen. In the first place, who is a helpless individual? A powerless individual is an individual who is multi year or more, and needing network care benefits because of realities of being mental incapacitate, age or ailment, who can't ensure oneself against damage and who can't deal with himself (Wbsb.co.uk, 2017). Working with kids and helpless people, I understood that there are common fundamental belief abilities that one needs to presents (Yor-ok.org.uk, 2017).First, powerful correspondence is the basic aptitude in these field of work. Great and viable correspondence is the way to working with youngsters and helpless individual. It's great correspondence that I can fabricate trust among them and me, and urge them to utilize administrations gave. I understood that correspondence isn't just about the talking yet it includes the non-verbal communication that I use. It is basic to show compassion and earnestness and hear them out. To have the option to assemble a decent connection with the youngsters, I must be aware, legitimate and understanding; this is on the grounds that when the relationship is consistent individuals will in general become drawn in, and there is an enhancement for their lives also. Also, tuning in and building sympathy is a fundamental aptitude. I needed to hear serenely w ithout being critical (Harskuti, 2017). I needed to listen acutely and recognize what had been said. In conclusion, one needs to presents interview and exchange abilities. From the earliest starting point of the procedure, I needed to counsel the vocations about them. I needed to include the youngsters in communicating what fulfills them. I needed to enable them to portray what they are encountering and courses of activities (Yor-ok.org.uk, 2017). Working with kids represents a few difficulties like some other work. Initial, an association that works with youngsters faces a huge staff turnover: numerous social specialists experience burnout and may select to change employment or vocation way (Work.chron.com, 2017). Besides, the primary purpose behind high staff turnover is burnout. Filling in as a social laborer can be genuinely depleting and sincerely depleting too soon (Years Careers, 2017). Through the commitment, I understood that I have to have a high resistance for dissatisfactions. This is on the grounds that I worked in cases that included kid misuse, youngster disregard or kid security. In conclusion, individual security of the laborer can be at risk.in some situation; I was called to intercede a circumstance that included an irate parent. Since the parent has no place to guide their displeasure to, due to encountering enthusiastic strife, the brutality was routed to me. As a social specialist, one needs to figure out how to how to viably speak with the customer and evaluate if the situation represents a danger to your wellbeing (Work.chron.com, 2017). Working With Children Check NSW Organization The association works easily to improve the insurance of kids in NSW, through helping people get an away from of the significance and favorable circumstances of securing the wellbeing of kids (Kidsguardian.nsw.gov.au, 2017). Organization SWOT investigation Quality The association has been conceded position to aggrieve individuals who neglect to meet the prerequisite s of youngster assurance instantly. The organization can execute laws that empower improvement of youngster insurance. They have the authorization to get youngsters out of hazardous condition without warrants (Pinterest, 2017). The organization gets subsidize arrangement from the legislature. Shortcoming The kids court neglected to guarantee that case managers are following the arrangement in a correct way (Pinterest, 2017. The quantity of cases worn has been key used to pass judgment on execution of the association. Oversight specialists are not ready to guarantee there are straightforwardness and consistence. The administration neglected to fathom the long effect that the youngsters expelled from homes powerfully will in general have, or those compelled to be received. Openings The organization profits by the data gave by the association that isn't subsidized by the administration. Lazy expanding cost of the office present a chance to them, this is a result of unprofitable approach. The organization has figured out how to make a protected spot for kids at home. Danger Numerous kids expelled from guardians who are fit for dealing with them are harmed. Creation a further age that keeps up the soul of youngster misuse represents a danger to the organization. Motivation appropriation push by well known and powerful people who can't imagine is a danger. Youngster obligation is given to NGO who are the basic course of their past maltreatment because of benefit. The NGO are liable for guaranteeing the subsidizing for the youngsters is on long haul which overrides the family first right (Pinterest, 2017). Monetary Sustainability The current type of late volunteer requests, subsidizing structure government levels, and cost of preparing units, I can say that the working youngster check NSW isn't monetarily reasonable. The apportion of a volunteer to representative check is higher than anticipated while volunteer check to date has expanded to multiple times more than the gauge. There has been a noteworthy program deficit.it can be connected to the administration financing being made to cover the representative volunteer check since no expense is forced for these checks, check given to the worker is sufficient to cook handling cost (Kidsguardian.nsw.gov.au, 2017). End Being a loner, deciding to chip in was a thing that acquired a ton of inquiry mind with regards to whether to do it or not. Being a piece of the network commitment has presented me to various individuals who are experiencing the different circumstances. The action has made me generally to acknowledge and be content with what I have since others wish they could have it as well, yet they dont. The movement caused me to acknowledge more the network laborers for their endeavors. I think of them as legend and courageous women, since the sort of work that they are engaged with isn't a stroll in the way, yet sparing lives. Today, I can gladly say, that the experience has caused me to feel a greater amount of complete than previously. I have had the option to obtain a great deal of aptitudes and honed on a portion of my capacities. A portion of the aptitudes learned are viable correspondence, acceptable audience, and circumstance investigator. The movement has brought me out of my customary range of familiarity. I will keep being a piece of network commitment movement from now hereafter. References Early Years Careers. (2017). 10 greatest difficulties you face working in childcare - Early Years Careers.[online]Availableat:https://www.earlyyearscareers.com/eyc/early-years-the executives/10-greatest difficulties you-face-working-in-childcare/[Accessed 16 Nov. 2017]. Harskuti, K. (2017). Need to Work With Children: 5 Skills and Qualities You Should Be Working On.[online]SocialWorkHelper.Available at: https://www.socialworkhelper.com/2014/01/30/need work-kids 5-aptitudes characteristics working/[Accessed 16 Nov. 2017]. Kidsguardian.nsw.gov.au. (2017). What our identity is - NSW Office of the Children's Guardian. [online] Available at: https://www.kidsguardian.nsw.gov.au/about-us/who-we-are [Accessed 16 Nov. 2017]. Kidsguardian.nsw.gov.au. (2017). Refer to a Website - Cite This For Me. [online] Available at: https://www.kidsguardian.nsw.gov.au/ArticleDocuments/316/WWCC_EvaluationReport.pdf.aspx?Embed=Y [Accessed 16 Nov. 2017]. Online.det.nsw.edu.au. (2017). Arrangement Library moved | Change informing. [online] Available at: https://online.det.nsw.edu.au/ecmjsp/divert/?ref=https://www.det.nsw.edu.au/approaches/student_serv/child_protection/work_child/Working-with-Children-Check-Appendix-8-CRIMTRAC-Form.pdf [Accessed 16 Nov. 2017]. Pinterest. (2017). Kid security. [online] Available at: https://www.pinterest.com/pin/290411875944354292/[Accessed 16 Nov. 2017]. Service.nsw.gov.au. (2017). Check a Working With Children Check status. [online] Available at: https://www.service.nsw.gov.au/exchange/registration youngsters registration [Accessed 16 Nov. 2017]. Wbsb.co.uk. (2017). Who is a Vulnerable Adult?. [online] Available at: https://www.wbsb.co.uk/4482 [Accessed 16 Nov. 2017]. Work.chron.com. (2017). Difficulties You Face as a DCF Social Worker. [online] Available at: https://work.chron.com/challenges-face-dcf-social-specialist 11595.html [Accessed 16 Nov. 2017]. Yor-ok.org.uk. (2017). Refer to a Website - Cite This For Me. [online] Available at: https://www.yor-ok.org.uk/YorOK-Workforce/Common%20core%20of%20skills%20and%20knowledge%20for%20the%20childrens%20workforce.pdf [Accessed 16 Nov. 2017].

The Avant-garde Architecture O :: essays research papers

The Chinese-American planner Ieoh Ming Pei (I.M) is known as perhaps the best draftsman of the Twentieth Century. His long, splendid vocation was featured by a few universally well known structures. While a large number of Pei’s structures were commonly acknowledged by the general population, some of them encouraged considerable measures of debate. The most eminent of these disputable structures is his Glass Pyramid at the passageway of the Louver in Paris. Hence, I.M. Pei is by all accounts an engineer who displays enthusiasm for the cutting edge through both the inventive plan and aestheticism of his design. Pei was conceived in China in 1917 and moved to the United States in 1935. He initially went to the University of Pennsylvania yet developed unconfident in his drawing abilities so he dropped out and sought after designing at MIT. After Pei chose to come back to engineering, he earned degrees from both MIT and Harvard. In 1956, after he had instructed at Harvard for a long time, he set up I.M. Pei and Partners, a structural firm that has been known as Pei Cobb Freed and Partners since 1989. This firm is popular for its fruitful and balanced answers for an assortment of plan issues. They are liable for a significant number of the biggest pubic and private development extends in the second 50% of this century. A portion of these ventures incorporate the East Building of the National Gallery of Art in Washington D.C., the John F. Kennedy Memorial Library in Boston, and the Rock and Roll Hall of Fame in Cleveland. At the point when French President Francois Mitterand â€Å"personally chose Mr. Pei in 1983 to plan the Grand Louver to give air, space, and light to one of the world’s most blocked museums,† (Markham, 1989) there were numerous pundits. The press â€Å"lambasted breaking the congruity of the Louvre’s patio with a glass iceberg† (Markham, 1989). Be that as it may, Pei continued as arranged, facing a significant challenge in making a glass pyramid structure at the passage. He didn't concentrate on what the pundits would state about his arrangements, yet trusted that the world would see, upon finish, that his vision of a contemporary, useful passageway would not conflict with the Baroque style of the Louver itself. At the point when the pyramid was finished in 1989, Pei’s articulation of cutting edge craftsmanship was not so much acknowledged. Numerous pundits lauded the yearning with which the planner structured it, yet scorned numerous parts of its usefulness: â€Å"The useful issue is that the Pyramid, when you get inside, is loud, hot, and disorienting† (Campbell, 1989).

MindMeister as a Recruitment and HR Tool - Focus

MindMeister as a Recruitment and HR Tool - Focus One of the great things about MindMeister is that its usage possibilities are endless. Whether you’re mapping out your next business move, organizing chapters in the book you’re writing, or planning the family vacation, MindMeister can do it all. To this end, I started thinking about some of my positions prior to MindMeister, and how mind mapping could have helped solve a problem here or there. While I couldn’t find much use in cruise ship deckhand (although it still remains as one of my all-time favorite jobs), my prior position as a recruiter immediately stood out. Let’s take a look at three examples where recruiters and HR professionals can benefit from MindMeister. Sourcing Strategies Every recruiter worth their salt will tell you that your end hire is only as good as your sourcing strategy. Needless to say, in the highly competitive world of talent acquisition, each recruiters’ technique is different, some successful, others less so. So how do you as a recruiter go about setting up your sourcing strategy? One of the first things that recruiters need to do is break out their needs. What type of skills does a certain employer or position require? Is this a temporary/seasonal job, or one that needs to be filled permanently? What is the appropriate education level for this position? And the list goes on. Certainly, this data, and the associated answers can be stored in a variety of ways, but only MindMeister allows a recruiter to have a complete overview of the entire process at a glance. Applicant Tracking Due to the complexities of Human Resource law, MindMeister might not be a good solution for applicant tracking itself. However, MindMeister will allow recruiters and HR professionals alike the ability to have an overview of their applicant tracking process. Where are resumes coming from? Which sourcer is consistently bringing in top quality candidates? How does recruiter A deal with sourcer B’s applicants vs. recruiter C? Using MindMeister as a planning tool can also aid HR professionals in determining needs and requirements. Do we need an Applicant Tracking System (or upgrade the current one)? How many employees do we need for next year? How are we going to get resumes into the system? What reporting features do we need? Should approved jobs be automatically distributed to job boards? Etc By using MindMeister’s collaboration and integrated chat features, recruiters and HR professionals can work together from either across the office  or across the ocean. The Onboarding Process Onboarding or Orientation as it’s been previously called, has received quite a bit of attention over the past few years. Plenty of HR professionals and recruiters have word documents or PDF’s packed full of useful information, and while an index can point them to this information, it’s far from an exhaustive overview. A good onboarding process is also one that’s continually being improved. The question is â€" how is this process being improved? Enter stage left â€" MindMeister. By mapping out their current onboarding process in a mind map, HR professionals can easily and effectively spot problem and/or weakness areas, as well as continually adjust the process and plan improvements. Using our exclusive History  View, users can easily review their entire process, how it’s changed, what’s improved, and what hasn’t. Internal Sourcing Not exclusive to recruitment, but setting up a Wiki Map for internal use can be a great way to not only give HR professionals a go-to spot to review all human capital needs and wants, but also facilitates inter-office collaboration. The possibility might arise where your operations manager knows of a few college students that are looking for summer work. The production floor is reporting that 3 widget makers resigned this past week. Et voilà! Positions (almost) filled. Likewise, by setting up internal HR and recruitment needs and desires, time lines, and requirements, further transparency is automatically introduced to the corporate culture. Naturally, the owner/creator of the map can choose who to share the map with, as well as format and customize the map to match corporate branding, thereby making it a seamless fit for the organization. The map below is a wikimap, go ahead and play around with it. Please keep in mind, these examples are in no way meant to reflect an exhaustive list of the HR/Recruitment possibilities with MindMeister, but should serve only as jumping off points. And therein lies the beauty of mind mapping with MindMeister; one single idea can lead to many, many branches with subtopics, and even completely new avenues of conversation and collaboration. Get started with mind mapping Sign up for MindMeister Its free! Sign up for MindMeister MindMeister as a Recruitment and HR Tool - Focus One of the great things about MindMeister is that its usage possibilities are endless. Whether you’re mapping out your next business move, organizing chapters in the book you’re writing, or planning the family vacation, MindMeister can do it all. To this end, I started thinking about some of my positions prior to MindMeister, and how mind mapping could have helped solve a problem here or there. While I couldn’t find much use in cruise ship deckhand (although it still remains as one of my all-time favorite jobs), my prior position as a recruiter immediately stood out. Let’s take a look at three examples where recruiters and HR professionals can benefit from MindMeister. Sourcing Strategies Every recruiter worth their salt will tell you that your end hire is only as good as your sourcing strategy. Needless to say, in the highly competitive world of talent acquisition, each recruiters’ technique is different, some successful, others less so. So how do you as a recruiter go about setting up your sourcing strategy? One of the first things that recruiters need to do is break out their needs. What type of skills does a certain employer or position require? Is this a temporary/seasonal job, or one that needs to be filled permanently? What is the appropriate education level for this position? And the list goes on. Certainly, this data, and the associated answers can be stored in a variety of ways, but only MindMeister allows a recruiter to have a complete overview of the entire process at a glance. Applicant Tracking Due to the complexities of Human Resource law, MindMeister might not be a good solution for applicant tracking itself. However, MindMeister will allow recruiters and HR professionals alike the ability to have an overview of their applicant tracking process. Where are resumes coming from? Which sourcer is consistently bringing in top quality candidates? How does recruiter A deal with sourcer B’s applicants vs. recruiter C? Using MindMeister as a planning tool can also aid HR professionals in determining needs and requirements. Do we need an Applicant Tracking System (or upgrade the current one)? How many employees do we need for next year? How are we going to get resumes into the system? What reporting features do we need? Should approved jobs be automatically distributed to job boards? Etc By using MindMeister’s collaboration and integrated chat features, recruiters and HR professionals can work together from either across the office  or across the ocean. The Onboarding Process Onboarding or Orientation as it’s been previously called, has received quite a bit of attention over the past few years. Plenty of HR professionals and recruiters have word documents or PDF’s packed full of useful information, and while an index can point them to this information, it’s far from an exhaustive overview. A good onboarding process is also one that’s continually being improved. The question is â€" how is this process being improved? Enter stage left â€" MindMeister. By mapping out their current onboarding process in a mind map, HR professionals can easily and effectively spot problem and/or weakness areas, as well as continually adjust the process and plan improvements. Using our exclusive History  View, users can easily review their entire process, how it’s changed, what’s improved, and what hasn’t. Internal Sourcing Not exclusive to recruitment, but setting up a Wiki Map for internal use can be a great way to not only give HR professionals a go-to spot to review all human capital needs and wants, but also facilitates inter-office collaboration. The possibility might arise where your operations manager knows of a few college students that are looking for summer work. The production floor is reporting that 3 widget makers resigned this past week. Et voilà! Positions (almost) filled. Likewise, by setting up internal HR and recruitment needs and desires, time lines, and requirements, further transparency is automatically introduced to the corporate culture. Naturally, the owner/creator of the map can choose who to share the map with, as well as format and customize the map to match corporate branding, thereby making it a seamless fit for the organization. The map below is a wikimap, go ahead and play around with it. Please keep in mind, these examples are in no way meant to reflect an exhaustive list of the HR/Recruitment possibilities with MindMeister, but should serve only as jumping off points. And therein lies the beauty of mind mapping with MindMeister; one single idea can lead to many, many branches with subtopics, and even completely new avenues of conversation and collaboration. Get started with mind mapping Sign up for MindMeister Its free! Sign up for MindMeister

Financial Analysis Of UBS AG Finance Essay - Free Essay Example

UBS AG is a diversified global financial services company, having its main headquarters at Basel and Zurich, Switzerland. In June 1998, Union Bank of Switzerland and Swiss Bank Corporation (SBC) completed the merger announced six months previously. Just two years later, UBS acquired the US brokerage firm Paine Webber, greatly increasing the size and scope of its business. Then the new firm set the seal on these achievements by proclaiming a single brand. In this light, UBS is both a new institution and new brand. In the picturesque Swiss region of Valposchiavo, for example, one UBS branch traces its origins as far back as 1747. The core components of todays UBS date back to the second half of the nineteenth century. At the same time, its history extends many generations into the past, particularly in Switzerland, the US and the UK. UBS is ranked second worlds largest asset manager of private wealth, and is the second-largest bank in Europe, in both market capitalisation and profitability. With its major presence in United States UBS has its headquarters located in New York City; Weehawken, Private Wealth Management in New Jersey; and Stamford, Connecticut for Capital markets, UBSs has its retail offices throughout the U.S., and has its presence in more than 50 countries (www.ubs.com). UBS was force to turn to the Government of Singapore for fresh funding after incurring a huge loss in 2007. After funding, Government of Singapore Investment Corporation became the largest shareholder of UBS in 2007. UBS managers pledged to return bonuses after a dramatic loss in November 2008. New financial aid was expected from Swiss government after the UBS shareholders voted to restore the shaken trust in UBS (www.ubs.com). Credit Suisse found a new cross-town rival in the form of UBS which has evolved on a similar path. Both of them originated from Switzerland indulging in commercial and retail banking who purchased major investment banks in United States and both are being investigated by U.S. authorities currently for helping 17,000 American citizens to avoid taxes. Based on the order by the Swiss Financial Markets Supervisory Authority (FINMA), UBS on 18th February 2009, immediately has agreed to provide the identities of and account information of about 250 American clients to United States and also agreed to pay US$ 780 million in the form of compensation and fines (www.ubs.com). Company Finance function: https://chart.finance.yahoo.com/c/1y/u/ubs Source: https://chart.finance.yahoo.com/c/1y/u/ubs Modern companies need to raise finance from the capital market in order to invest in the real and intangible assets they need to earn profits. Their first priority is to ensure that they can source finance for both their short run and their long run needs in the most economical way possible. Corporate investment is by its nature risky and often capital intensive (Ryan, 2007). In order to justify the use of other peoples money a firm needs to ensure that the investment decisions it makes, taking into account its cost of capital, lead to an overall increase in the value of the firm and hence its investors wealth. Alongside the problem of sourcing finance at the cheapest cost, the firm has to make sure that all the investment decisions it undertakes are value adding. If they are not the firm will not be able to justify its existence for very long and will find itself out of business (Ryan, 2007). The ability to trade the financial claims of business ventures has been known about and practised for centuries. In the modern era the standardization of financial claims into homogenous trading units has transformed the way markets operate. Until the 1930s companies, for example, borrowed money from banks but following the Wall Street Crash in the United States there was a sudden loss of confidence in the banking sector. As a result, companies started to practise what governments had been doing for some time and sidestepped the banks going directly to lenders and offering them securitized debt in the form of bonds (Ryan, 2007). Although modern financial intermediaries are marvel of efficiency, the role of traditional intermediaries such as banks as providers of debt capital to corporations has declined for decades. Instead, nonfinancial corporations have increasingly turned to capital markets for external financing, principally because the rapidly declining cost of information processing makes it much easier for large number of investors to obtain and evaluate financial data for thousands of potential corporate borrowers and issuers of common and preferred stock equity (Megginson and Smart, 2006). The Five Basic Corporate Finance functions: Although corporate finance is defined generally as the activities involved in managing cash flows (money) in a business environment, a more complete definition would emphasize that the practice of corporate finance involves five basic functions: Raising capital to support companies operations and investment programs (the external financing function); Selecting the best projects in which to invest firms resources, based on each projects perceived risk and expected return (the capital budgeting function); Managing firms internal cash flows, its working capital, and its mix of debt and equity financing, both to maximize the value of firms debt and equity claims and to ensure that companies can pay off its obligations when due (the financial management function); Developing company-wide ownership and corporate governance structures that force managers to behave ethically and make decisions that benefit shareholders (the corporate governance function); and Managing firms exposures to all types of risk, both insurable and uninsurable, to maintain and optimal risk-return trade-off and therefore maximize shareholder value (the risk-management function). (Source: Megginson and Smart, 2006) UBS External financing: When corporations are young and small, they usually must raise equity capital privately, either from friends and family, or from professional investors such as venture capitalists. These professionals specialize in making high-risk/high-return investments in rapidly growing entrepreneurial businesses. Once firms reach a certain size, they may decide to go public by conducting an initial public offering (IPO) of stock-selling shares to outside investors and listing the shares for trading on a stock exchange. After IPOs, companies have the option of raising cash by selling additional stock in the future (Megginson and Smart, 2006). Capital Budgeting The capital budgeting function represents firms financial managers single most important activity, for two reasons. First, managers evaluate very large investments in the capital budgeting process. Second, companies can prosper in a competitive economy only be seeking out the most promising new products, processes, and services to deliver to customers. Companies such as Intel, General Electric, Shell, Samsung, and Toyota regularly make huge capital outlays. The capital budgeting process breaks down into three steps: Identifying potential investments; Analysing the set of investment opportunities and identifying those that create shareholder value; and Implementing and monitoring the investments (Source: Megginson and Smart, 2006) Risk Management Historically, risk management has identified the unpredictable act of nature risks (fire, flood, collision, and other property damage) to which firms was exposed and has used insurance products or self-insurance to manage those exposures. Todays risk-management function identifies, measures, and manages many more types of risk exposures, including predictable business risks. These exposures include losses that could result from adverse interest rate movements, commodity price changes, and currency value fluctuations. The techniques for managing such risks are among the most sophisticated of all corporate finance practices. The risk-management task attempts to quantify the sources and magnitudes of firms risk exposure and to decide whether to simply accept these risks or to manage them (Megginson and Smart, 2006). Corporate Governance Recent corporate scandals-such as financial collapses at Enron, Arthur Andersen, WorldCom, and Parmalat-clearly show that establishing good corporate governance systems is paramount. Governance systems determine who benefits most from company activities; then they establish procedures to maximize firm value and to ensure that employees act ethically and responsibly. Good management does not develop in a vacuum. It results from corporate governance systems that hires and promotes qualified, honest people, and that motivate employees to achieve company goals through salary and other incentives (Megginson and Smart, 2006). Developing corporate governance systems present quite a challenge in practice because conflicts inevitably arise among stockholders, managers, and other stakeholders interests. But rarely is it in the interest of any individual stockholder to spend the time and money needed to ensure that managers act appropriately. If individual stockholders conducted this type of oversight, they would personally bear all the costs of monitoring management, but would share the benefits with all other shareholders. This is a classic example of the collective action problem that arises in most relationship between stockholders and managers (Megginson and Smart, 2006). Bankruptcy and Corporate Financing Patterns The more debt a firm uses in its capital structure, the less likely the firm will be able to meet its debt service obligations, and the more likely default will occur (Benning and Sarig, p.347). It is this default likelihood that introduces bankruptcy costs into capital structure. As argued by Van Horne (p.268), the presence of bankruptcy costs is an important source of imperfection in the markets for corporate funds. Under imperfect conditions, there are the administrative costs of bankruptcy, and assets may have to be liquidated at less than their economic values (Bekter, p. 56). It is also this tendency that Myers (p.218) describes as the direct cost of bankruptcy. The implication of the presence of bankruptcy cost in financial leverage is manifested more by the fact that debt-financing generates risks. Not only that, but it has been argued that for instance that every financing decision comes with some risk implications on the value of the firm (Glen and Pinto, 1994). In U.S history the largest bankruptcy was finally coming to an end. On April 20, 2004, MCI, Inc. Emerged with an announcement that it had begun distributing securities and cash to its creditors according to a court-approved reorganization plan. MCIs chief executive officer, Michael Capellas, heralded a new beginning for his company, which had filed for bankruptcy court protection twenty-one months earlier-when the company was called WorldCom-after disclosing and $11 billion accounting fraud. At the time of its Chapter 11 filing, WorldCom had assets totalling nearly $104 billion and debts of $32 billion (Megginson and Smart, 2006). WorldCom shocked the business world when the company announced in June 2002 that it had fraudulently overstated $3.9 billion of expenses as capital expenditures, which had allowed it to book higher profits during the telecom boom years of 1998-2001. WorldCom chief financial officer Scott Sullivan was fired the day the accounting fraud was disclosed, and his exit followed that of founder and long-time CEO, BernineEbbers, who had been forced out in April 2002. Over the next two years, more than $7 billion in additional accounting errors and frauds were uncovered,, bringing the total misstatements to $11 billion, and in a March 2004 restatement of its 2001 and 2002 financial results, the company wrote off over $74 billion in previously booked profits and goodwill (Megginson and Smart, 2006). Corporate Control Transactions Changes in corporate control occur through several mechanisms, most notably via acquisitions. An acquisition is the purchase of additional resources by a business enterprise. These resources may come from the purchase of new assets, the purchase of some of the assets of another company, or the purchase of another whole business entity, which is known as a merger. Merger is itself a general term applied to a transaction in which two or more business organizations combine into a single entity. Oftentimes, however, the term merger s reserved for a transaction in which one corporation takes over another upon the approval of both companies boards of directors and shareholders after a friendly and mutually agreeable set of terms and conditions and a price are negotiated (Megginson and Smart, 2006). Statuary Merger A statutory merger is a form of target integration in which the acquirer can absorb the targets resources directly with no remaining trace of the target as a separate entity. Many intrastate bank mergers are of this form. Subsidiary Merger Conversely, an acquirer may wish to maintain the identity of the target as either a separate subsidiary or division. A subsidiary merger is often the integration vehicle when there is brand value in the name of the target, such as the case of PepsiCos merger with Pizza Hut in 1997. Sometimes, separate tracking or target shares are issued in the subsidiarys name. Sometimes, these shares are issued as new common shares in exchange for the targets common shares, as occurred when General Motors issued new Class E and Class H shares to acquire, respectively, Electronic Data Systems and Hughes Electronics during the 1980s. Alternatively, a new class of preferred stock may be issued by the bidding firm to replace the common shares of the target as well (Megginson and Smart, 2006). Consolidation Consolidation is another integrative form used to effect a merger of two publicly traded companies. Under this form, both the acquirer and target disappear as separate corporations and combine to form an entirely new corporation with new common stock (Megginson and Smart, 2006). Dealing with the Crisis The merger of the Union Bank of Switzerland and the Swiss Bank Corporation in June 1998 resulted in UBS evolution. The new company was named originally as Union Bank of Switzerland, but officials chose to call it as UBS as the name was clashing with United Bank Switzerland a subsidiary part of the United Bank Limited, Switzerland. United Bank of Switzerland is no longer known for its name as it made its brand name UBS like 3M. The carried over logo from SBC, which stands for confidence, security and discretion has remained with UBS. With its acquisitions of Dillon Read in New York and S. G. Warburg in London, SBC had investment banking business all over the world before the merger. Due to the Long-Term Capital Management crisis, in October 1998, the first chairman of the merged bank resigned which affected the Union Bank of Switzerland. After the acquisition of Paine Webber Group Inc. by UBS in 2000, it became the largest private clients wealth management company in the world. A CHF 3.265 trillion assets was invested in wealth management businesses, including the U.S. As the company began to operate as one large firm, all the business group of UBS were rebranded under the UNBS name on the 9th June 2003. All major companies bought by Union Bank of Switzerland like UBS Paine Webber, UBSWarburg, UBS Asset Management and others were just called UBS. With the retirement of the Paine Webber brand UBS took a US$1 billion write-down for the loss of good will associated with as a result of the rebranding. www.ubs.com In a report released on 01st April 2008, 15 billion Swiss francs (US$15.1 billion) in a new capital was seeked by Swiss bank UBS AG as it expected to post net losses of 12 billion Swiss francs (US$12.1 billion) for the first quarter of 2008. Around 19 billion dollars on U.S. real estate and related credit positions were expected to write-down as UBS was hit by U.S. Subprime mortgage crisis and losses. Fitch Ratings and Standard Poors, and Moody are cut down the long term credit rating of UBS in April 2008 to AA and Aa1 respectively. A new capital of CHF 6 billion through mandatory convertible notes was announced by UBS which they had on the 16th October 2008, and was place with Swiss Confederation. Transfer agreement of approximately USD 60 billion currently illiquid securities and various assets from UBS to a separate fund entity were made between the Swiss National Bank (SNB) and UBS (www.ubs.com). The third quarter Group net profit was announced by UBS on 4th November which was in line with their 16th October pre announcement, CHF 296 million standing with net profit attributable to UBS shareholders. A further CHF 4.8 billion of write-downs and losses on risk positions affected that quarter in gain on tax credit of over CHF 900 million and own credit of CHF 2.2 million. In an announcement made on the 12th November 2008, UBS said that from 2009 there will be no more than one-third of any cash bonus paid out in year it is earned with the rest held in reserve. Top executives will have to hold 75% of any vested shares; incentives would also vest after three years on shares with share bonus accounts subject to malus charges. US$6 billion of equity was put into the new bad bank entity by UBS in November 2008; a benefit option was kept only if the value of its assets were to recover. UBS structure guaranteed clarity for UBS investors by making an outright sale, which was indicated as a neat package by the New York Times (www.ubs.com). The head of the Swiss National Bank (SNB) and Chairman Jean-Pierre Roth on Friday the 30th January 2009was quoted on Reuters as saying that the two best capitalised banks in the world are UBS and Credit Suisse. In an announcement made on the 09th February 2009 by UBS, said that it lost nearly 20 billion Swiss francs (US$17.2 billion) in 2008, which is the single-year biggest loss in the history of Switzerland. The commitment to each of the UBS business divisions and strategy were confirmed by UBS Board of Directors and the Group Executive Board on the 10th February 2009. Investigations relating to UBS U.S. cross-border business are getting resolved by entering into a deferred prosecution agreement with the US Department of Justice and a Consent Order with the US Securities and Exchange Commission. US$380 million represents disgorgement of profits from its cross-border business out of US$780 million which UBS agreed to pay. And the remaining represents the tax amount of United States which UBS failed to withhold to the accounts. The interest, penalties and restitution for unpaid taxes are included in the figures. UBS also entered into an agreement with the Securities and Exchange Commission as part of the deal in which it agreed to the charges of having acted as an unregistered broker-dealer and investment adviser for Americans (www.ubs.com). Initiative taken CHF 20.9 billion (US$ 18 billion) loss was posted by UBS AG on the 11th march 2009 which was stated in their revised FY 2008 report. It was said that UBS was extremely cautious about the outlook of 2009. UBS announced in its Annual General Meeting held on 15th April 2009, it has plans of cutting 8,700 jobs in its return to profitability.UBS had to make about US$50 billion in write-downs and announce of 11,000 job cuts since 2007 due to the global financial crisis. UBS agreed to sell its Brazilian financial service business, UBS Pactual, to BTG Investments for approximately USD 2.5 billion in a statement made on the April 21st 2009.UBS was aiming to reduce its risk profile and to become more profitable by the sale of the Brazilian business. U.S. federal grand jury charges were made on private banker Raoul Weil for which UBS formally cut all its ties on the 1st May 2009. Raoul had been suspended in November 2008 after he was indicated in correlation to the tax evasion affair. A first q uarter net loss of two billion Swiss francs (USD1.75 billion) was confirmed by UBS on May 20th 2009 which was less than initially expected. UBS restated its 2008 annual report on the May 20th 2009. A further reduction in the net profit was announced by the bank of CHF 450 million, and CHF 269 million in reduction of equity and equity attributable to UBS shareholders (www.ubs.com). UBS strengthened its capital base by placing 293.3 million shares from existing authorized capital by taking the advantage of current market conditions. A small number of large institutional investors were placed with the shares. In the view of the regulators it was consistent that this capital raising aims at strengthening confidence in UBS and the Swiss financial centre which is claimed by UBS. The second quarter loss of CHF 1.4 billion (US$1.32 billion) was reported on the 4th August 2009. The Swiss government made a statement of selling its CHF 6 billion stake in UBS on the 20th August 2009, making significant profit; the mandatory convertible notes of 332.2 million which it had purchased in 2008 to help UBS clear its balance sheets of toxic assets (www.ubs.com).

Transgender - 1370 Words

Transgender/Transsexual Olivia Warehime Tarleton State University ABSTRACT A transgender is someone that believes that their gender does not match their anatomy that they were born with. Transgender believes that they’re in someone else’s body. For example someone that was born a male believes he’s a female and vice versa. Keyword: heterosexism, LGBT, Lesbian, Gay, Bisexual, Transgender, Prevention Why are people transgender? ACN, S. (2011, February 27). Health experts believe that being transgender is caused by many different things, but do not know exactly how a person becomes transgender. Then expects believe it’s a functions. Being transgender is not supply a matter of choice. Understanding what it means to be transgender†¦show more content†¦All of a sudden stop in the hormone intake and produce high rates of depression and emotional mood swings and occasionally suicidal feelings. When being transgender the main cause of depression is social predicament or social accepetence. essentially people expect one another to be and act like a boy or girl. Transgender adults or teens are much more likely to have suicidal thoiughts, they in not finding a partner, not fitting in with the gender they are. The best way to deal woith the depression of being transgender is to surround yourself with people who accent people being different. Transgender face all types of discrimination in nearly every aspect of their lives. Transgender are the target of rules crimes. They are victims or subtle discrimination, which is everything from rude glances on glares to disprovable invasive questions about their body. Transgender are not allowed to join the military and also face discrimination an ones work. Twenty to fifty percent of transgender said they face employment decimation, including being fired, denied a promotion or a job in general or even being harassed. Lawsuits claiming discrimination based on ones gender identity can be costly to the employer and there reputation. Transgender are harassed and discriminated at schools as well as work places. Reports show that while in grade k-12 78% of alarming harassment rates, 35% of physical assault and 12% of sexual violence. TransgenderShow MoreRelatedTransgender Prisoners And Transgender Inmates Essay1186 Words   |  5 PagesAmongst the inmates mistreated, transgender prisoners are challenged in many ways with abuse, misconduct, and discrimination. Transgender individuals are people who do not identify themselves with the gender that was assigned at birth. The high-risk profile of being a transgender inmate in prison strikes for deep concern and something needs to be done. II. Purpose of paper Prison personnel have not been doing much to secure the safety and well-being of transgender inmates. 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Promoting A Drug Awareness Program For Teens - 1695 Words

Promoting a Drug Awareness Program for Teens Teen drug use/abuse is common. According to the U. S. Department of Health Human Services, the most common drugs teens use are alcohol, marijuana, tobacco, and prescription drugs (2016). Other drugs used are inhalants, over-the-counter medications, and other illegal drugs such as cocaine, methamphetamine, and heroin. The use of drugs and alcohol increase the risk of injury or death. According to WebMD, alcohol and drug abuse is a leading cause of teen death or injury related to car crashes, suicides, violence, and drowning (2014). A drug is anything that can alter the mind or body. Why do Teens Use or Abuse Drugs? There are many reasons why a teen or young adult chose to use drugs and alcohol. Many teens do not have family support or someone to teach them of the dangers of drug use/abuse. Some â€Å"users† do it just to get a temporary high while others may have others reasons for doing drugs and alcohol. According to Drug Prevention 4Teens, the most common reasons for doing or tying drugs is to be accepted by their peers, to alleviate the pressures of school, to be more grown up, and curiosity and lack of knowledge associated with drug use (2008). Adolescents want to fit in with their peers, and often, the way to fit in is to use alcohol or drugs. Other teens have issues with keeping up the demands set for middle school and high school students and may turn to drugs or alcohol as a way to deal with the additionalShow MoreRelatedEssay about Drugs and Teenagers786 Words   |  4 PagesDrugs and Teenagers Drug use is one of the most serious and concerning issues among teenagers in todays high schools. Most drug use begins in the preteen and teenage years, and it is these years that can be the most crucial in determining how a young person develops as a human being. 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Article Review Reflexivity As A Methodology By Its...

GI402 Summative Essay Jayati Lal argues that ‘reflexivity [cannot be] an end in itself ’ and suggests that a ‘reflexive and self-critical methodological stance can become meaningful only when it engages in the politics of reality and intervenes in it in some significant way’ (1996: 207). Critically discuss. With the growth in discussion of power relation between researcher and researched, it is noticed that position of researcher is important to be involved in research process (Rich, 1986; Code, 1995; McCorkel Myers, 2003; Grenz, 2005). Reflexivity, then, is a epistemic methodology to evaluating researchers’ roles, researching method and outcomes. This article is aimed to discussing ‘Reflexivity’ as a methodology by its existing influence and so-far problems. Arguing the meanings of reflexive methodology for qualitative research, I will bring up different opinions of reflexivity compared to Jayati Lal’s statement. ç ¬ ¬Ã¤ ¸â‚¬Ã©Æ' ¨Ã¥Ë†â€ Ã¯ ¼Å¡Ã¨ ¨Å½Ã¨ «â€"Ã¥  Ã¨ º «Ã¦â‚¬ § ï ¼  Ã¥  Ã¨ º «Ã¦â‚¬ §Ã§Å¡â€žÃ¦â€" ¹Ã¦ ³â€¢Ã¨ «â€"〠Ã©â€¡ Ã¨ ¦ Ã¦â‚¬ §Ã£â‚¬ Ã¥  ¯Ã¨Æ' ½Ã¥â€¢ Ã© ¡Å'(ç µ Ã¥ Ë†JayatiÃ¥  Ã¥ ° Ã§Å¡â€žÃ©Æ' ¨Ã¥Ë†â€ ) Ã¥  Ã¨ º «Ã¦â‚¬ §Ã¦Ëœ ¯Ã£â‚¬Å'çŸ ¥Ã¨ ­ËœÃ£â‚¬ Ã¥ ¦â€šÃ¤ ½â€¢Ã¨â„¢â€¢Ã§ â€ Ã§Å¸ ¥Ã¨ ­ËœÃ£â‚¬ Ã¤ ¹â€¹Ã©â€"“çš„å · ®Ã§â€¢ ° Reflexivity is the continual evaluation of relation between ‘knowledge’ and ‘the method of producing knowledge’ (Calà ¡s and Smircich, 1992). Its importance has been widely discussed due to the lack of awareness of researchers’ role in knowledge production. çŸ ¥Ã¨ ­ËœÃ§â€Å¸Ã§â€ ¢Ã¦â€" ¹Ã¦ ³â€¢Ã§Å¡â€žÃ¥â€¢ Ã© ¡Å'〠Ã©â€¡ Ã¥Å'â€"ç  â€Ã§ © ¶Ã§Å¡â€žÃ¥â€¢ Ã© ¡Å' The purpose of traditional research has always been finding out the ‘truth’ and ‘objective’ knowledge of the world. 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The Scope of Woolf’s Feminism in A Room of One’s Own Essay

The Scope of Woolf’s Feminism in A Room of One’s Own Missing Works Cited A highly contested statement on women and fiction, Virginia Woolf’s extended essay A Room of One’s Own has been repeatedly reviewed, critiqued, and analyzed since its publication in 1929. Arnold Bennett, an early twentieth-century novelist, and David Daiches, a literary critic who wrote an analysis entitled Virginia Woolf in 1942 (Murphy 247), were among those to attempt to extricate the themes and implications of Woolf’s complex essay. The two critics deal with the often-discussed feminist aspect of Woolf’s essay in interestingly different ways. Bennett states that Woolf’s essay is not a feminist work, rejects the idea that Woolf’s discussion of women and†¦show more content†¦As Professor Wendy Nicholson said in her lecture on A Room of One’s Own, at the period in which Woolf was writing, feminism, by popular definition, meant wanting the vote for women. This is certainly not Woolf’s brand of feminism; having received the news of her inheritance at the same time as women won the vote, Woolf wrote that â€Å"of the two-the vote and the money-the money, I own, seemed infinitely more important† (Woolf 37). But although such matters as the vote are an important part of feminism, the word has evolved to embrace many non-political beliefs. Indeed, during Woolf’s time, there was a strong feminist movement outside of the political sphere, but the common conception was that feminists were only interested in the vote. In the most general sense, today’s definition of feminism is simply the belief in securing equal rights and opportunities for women. That women should be allowed equal opportunities to write fiction is the thesis of Woolf’s essay. Though her thesis is confined to fiction and does not extend into any other facet of society, the idea is feminist by this broader, more recent definition. In Bennett’s time, however, when the words â€Å"feminist† and â€Å"suffragist† were considered synonyms, Woolf’s blatant nonchalance about women’s suffrage may have been considered no t only non- feminist, but anti- feminist. ArnoldShow MoreRelatedAnalysis Of Alice Walker s Search Of Our Mother s Gardens Essay1910 Words   |  8 Pagesincluding ‘In Search of our Mother’s Gardens’ is an expression of her thoughts and ideas on the subject of black history and with it explores racism, oppression, slavery, self-identity, freedom, enlightenment and independence. She writes about the scope of her history as a black woman, both personally and through the past experiences of her ancestors. In an interview with John O’Brien, when asked what determines her interests as a writer she responded stating â€Å"I am preoccupied with the spiritual survivalRead MoreThe Hours - Film Analysis12007 Words   |  49 PagesThe Suicide of the Author and his Reincarnation in the Reader: Intertextuality in The Hours by Michael Cunningham Andrea Wild In his novel The Hours, Michael Cunningham weaves a dazzling fabric of intertextual references to Virginia Woolfs works as well as to her biography. In this essay, I shall partly yield to the academic itch to tease out the manifold and sophisticated allusions to the numerous intertexts. My aim, however, is not to point out every single reference to Woolf and her works--suchRead More Feminism Essay1813 Words   |  8 Pages Both Virginia Woolf, in a speech addressing a graduating all women class, and Naomi Wolf, in her text The Beauty Myth, contemplate feminism from an economic viewpoint. While Woolf believes women need money and a room of their own to have economic independence, Wolf gives credence to the fact that the beauty industry is hindering the independence of women. Through male pomposity, the conventional lives of women, obsession with physical appearance, and the reality that beauty is diverse, both

Revisiting Day of the Week Effect in Indian Stock Market Free Essays

In recent years the testing of market anomalies in stock returns has become an active field of research in empirical finance and has been receiving attention not only from academic journals but also from the financial press as well. Among the more well-known anomalies are the size effect, the January effect and the day-of-the week effect. According to this phenomenon, the average daily return of the market is not the same for all days of the week, as we would expect on the basis of the efficient market theory. We will write a custom essay sample on Revisiting Day of the Week Effect in Indian Stock Market or any similar topic only for you Order Now The objective of this paper is to examine the existence of day of week effect in Indian stock market. Daily closing prices of SP CNX Nifty index have been analyzed over fifteen years period commencing from January 1994 to December 2008. A set of parametric and non parametric tests has been used to test the equality of mean returns and standard deviations of the returns. The mean returns on Monday and Tuesday are negative while on Wednesday these are highly positive. Also, the impact of introduction of rolling settlement on the stock returns is observed. The results show that before rolling settlement came in 2001, Tuesday was showing highly negative returns and Wednesday highly positive. But after the introduction of rolling settlement, the seasonality in the distribution of the mean returns across different days of the week ceased to appear. Thus the markets have become more efficient over a period of time. KEY WORDS: Market Efficiency, Calendar Anomalies and Day-of-the-Week Effect INTRODUCTION A Stock Exchange is a common platform where buyers and sellers come together to transact in securities. It may be a physical entity where brokers trade on a physical trading floor via an â€Å"open outcry† system or a virtual environment. The Stock Exchange, Mumbai (BSE) and the National Stock Exchange (NSE) are the India’s two leading stock exchanges. Indian security market is one of the oldest markets in Asia. It has come a long way from earlier days of floor trading to the present day screen and net based trading. This study is an attempt to have a deeper insight in to the behaviour and patterns of stock price distribution in the Indian stock market. The price of a security should vibrate around its intrinsic worth in any efficient market. In finance, the efficient-market hypothesis (EMH) asserts that financial markets are â€Å"informationally efficient†, or that prices on traded assets, e. g. , stocks, bonds, or property, already reflect all known information. The efficient-market hypothesis states that it is impossible to consistently outperform the market by using any information that the market already knows, except through luck. Therefore, the past price movements can in no way help in speculating the prices in future. The price of each day is independent. It may be unchanged, higher or lower from he previous price, but depends upon new pieces of information being received each day. So seasonalities cannot be used to formulate trading strategies to earn abnormal returns according to efficient market hypothesis theory. Calendar anomalies are cyclical anomalies in returns, where the cycle is based on the calendar. It describes the tendency of stocks to perform differently at different times. For example, a n umber of researchers have documented that historically, returns tend to be higher in January compared to other months (especially February). There are three types of efficiencies as explained in efficient market hypothesis. So calendar anomalies mainly explain weak form of efficiency which says that previous price changes or changes in return are useless in predicting future price or return changes. Some of the calendar anomalies are Month-of-the year effect, Month-of-the quarter effect, Week-of-the month effect, Day-of-the-week effect or Weekend effect, Monday effect, Hour-of-the-day effect or the End of the-day effect, holiday effect and turn of the month effect etc. Among them the day-of-the-week effect is most widely documented across the countries and markets. In context to stock market the majority of research findings, indicates that the stock returns remain low or negative on Monday. This paper examines the day-of-the-week effect in Indian stock market, using S;P CNX Nifty data of last fifteen years from January 1994 to December 2008. REVIEW OF LITERATURE There is an extensive literature on the day-of-the-week effect in the stock returns. This section examines a few research works on the day of the week effect in Indian and international stock markets. Ziemba (1993) investigated the weekend hypothesis for the Japanese market using daily data from 1949 to 1988. Tuesday recorded negative returns following a one day weekend and Mondays declined after two days weekends. Balaban (1994) found day of the week effect in an emerging stock market ISECI of a developing country Turkey for the period 1988 to 1994. Highest returns on Friday and lowest returns on Tuesday were observed. Mishra (1999) studied day of the week effect in Indian stock market using Sensex and Natex for the period 1986 to 1998 indicating the presence of day of the week effect in Indian stock market. Friday returns were found highest and significantly different from the mean returns of other days. Hence there exists a Friday effect. Berument and Halil Kiymaz (2001) tested the presence of the day of the week effect on stock market volatility by using the S;P 500 market index during the period of January 1973 and October 1997. The findings showed that the day of the week effect is present in both volatility and return equations. While the highest and lowest returns were observed on Wednesday and Monday, the highest and the lowest volatility were observed on Friday and Wednesday, respectively. Further investigation of sub-periods reinforced findings that the volatility pattern across the days of the week was statistically different. Sarma (2004) examined seasonality across the days of week in Indian stock market using BSE indices- SENSEX, NATEX and BSE 200. Highest variance on Monday was found and weekend effect was confirmed by this study. Nath and Dalvi (2004) examined the day of the week anomaly in Indian stock market for the period from 1999 to 2003 using index S;P CNX NIFTY data. The study found that before introduction of rolling settlement in January 2002, Monday and Friday were significant days. However after the introduction of the rolling settlement, Friday became significant. Mondays were found to have higher standard deviations followed by Fridays. Davidsson (2006) found evidence of day of week effect in S;P 500 index. Davidsson found Wednesday was the weekday with highest rate of return and Monday was weekday with lowest rate of return. Also Monday was the only day with negative rate of return. Wednesday’s returns were found approximately four times of Monday’s returns. Badhani (2008) examined the presence of day-of-the-week effect on stock returns, trading volume and price volatility at the NSE during the period of 10 years from 1995-2005. Wednesday effect was found during earlier weekly settlement regime which now disappeared. Monday and Tuesday returns were consistently low but during recent sub period these were not significantly different from other days of week. Also on Monday the average trading volume was significantly low and price volatility was high consistently across the entire sample period. Mangala (2008) examined day-of-the-week effect in sub periods in Indian stock market using S;P CNX Nifty data. Highest returns on Wednesday and lowest on Tuesday were observed. Also findings showed that seasonality in return distribution across weekdays was confined to pre rolling settlement time period; thereafter seasonality vanished. DATA AND METHODOLOGY This study covers a sample period of fifteen years from January 1, 1994 to December 31, 2008 comprising a total of 3695 observations(days). The stock prices are represented by S;P CNX Nifty index. The closing values of this index have been obtained from the official website of National Stock Exchange (www. nseindia. com). There was trading on certain weekly closing days (i. e. 18 Saturdays and 3 Sundays); these days have been excluded from the sample. During the above sample period of fifteen years many structural changes also took place in the market. For example rolling settlement was introduced in place of weekly settlement system. Therefore, the behaviour of stock prices has been studied on an yearly basis so as to gauge the impact of these changes on the stock prices. Measuring the Daily Returns Daily percent return on the index for a given day of the week has been calculated by subtracting the closing price of the previous trading day from closing price of that day, then dividing the resulting no. by closing price as on the previous trading day and multiplying by 100. Rt = Pt-Pt-1 * 100 Pt-1 Rt is daily return on the share price index for day t Pt is the closing value of index for the day‘t’ and Pt-1 is the closing value of the index for the preceding day. Hypothesis and Testing Procedure The null hypothesis is that there are no differences in the mean daily returns across the weekdays. The non parametric Kruskall- Wallis (H) test has been applied to test seasonality in returns across weekdays to test the hypothesis. Null hypothesis is: – Ho:  µ1=  µ2=  µ3=  µ4=  µ5 Here,  µ1,  µ2†¦Ã‚ µ5 represent mean returns of different trading days of week. It means that mean returns across all the five days of week are equal. Alternative hypothesis is: – H1:  µ1?  µ2?  µ3?  µ4?  µ5 It implies that there is significant difference in mean returns across the trading days in a week. Different statistical tools have been used to find the results like mean, standard deviation, range, skewness ; kurtosis etc. Then the most scientific and logical non-parametric Kruskall-Wallis (H) test has been applied to check the hypothesis. The Kruskall Wallis test requires the entire set of observations being ranked – higher the value, higher is the rank and vice-versa- then arranged into nj ? 5 matrix where nj represents the rank of the return and columns represent the day of the week (Monday through Friday). The value of H is calculated by formula: |H |= |12 |( |[pic] |(Rj)2 |) |  Ã¢â‚¬â€Ã‚   |3(N+1) | | | |[pic] | | |[pic] | | | | | | |N(N+1) | | |nj | | | | | | | | | | | | | | Where: Rj= sum of ranks in the jth column nj = number of cases in the jth column N = sum of observations in all the columns The calculated H value has been compared with the table value of the chi-square(? 2) distribution with (k-1) degree of freedom, where k stands for the number of trading days in a week. Hence H0 is rejected if H;gt; ? 2 H0 is accepted if H;lt; ? 2 The value of H in our study is taken as the critical value at 1% as well as 5% level of significance. Further Dunn’s multiple pair comparison test based on rank matrix built in K-W test has been used to find seasonality by a pair wise multiple comparison procedure. It identifies whether particular day of the week differs from other days of the week. The test procedure relies on Kruskall-Wallis rank sum Rj. The data in the rank-day matrix prepared for ‘H’ test is used for this purpose. For a given level of ? decide ?  µ ? ? if |Ru-Rv| ? Z [? /k(k-1)] [N(N+1)/12]1/2 [1/n µ + 1/nv]1/2 Where,  µ = 1, 2†¦Ã¢â‚¬ ¦k-1 v= +1,†¦Ã¢â‚¬ ¦. k k = 5 N = total number of observations n µ = corresponding number of observations in the uth column nv = corresponding number of observations in the vth column Ru = Average K-W rank sums in the uth columns of the rank matrix Rv = Average K-W rank sums in vth co lumns of the rank matrix Z[? /k(k-1)] = the upper percentage point of the unit normal distribution for a given significance level for 99 percent confidence level is 2. 575 Further the returns have been analyzed for two sub-periods i. e. Sub period-1 before rolling settlement (weekly settlement period) ; sub period-2 after the rolling settlement was introduced. In weekly settlement time period, Tuesday used to be as the settlement day on NSE. In 2001, rolling settlement was introduced which shifted settlement cycle from a fixed day of the week to fixed settlement lag. Tuesday settlement might be the possible reason for the observed seasonality in stock returns. DATA ANALYSIS Here the day of the week pattern of the S;P CNX Nifty data from January 1994 to December 2008 has been tested, results of which have been depicted in Table 1. It is observed from the table that the mean returns on Monday i. e. -0. 08563 percent are minimum followed by Tuesday. Mean returns on Wednesday, Thursday and Friday are positive out of which Wednesday’s return with 0. 303 percent is maximum across all the days of the week. The mean return on Wednesday is about 8 times the overall mean return. The variation in mean returns measured in terms of standard deviation is found maximum on Monday (1. 870303 percent) followed by Friday (1. 740897 percent). It shows that trading on week start and week end is more volatile than other days of week. Skewness is positive only on Wednesday while other days of week have negatively skewed distributions. Kurtosis tells us the extent to which a distribution is peaked or flat topped when compared with a normal curve. The return distribution on Monday, Tuesday and Friday is leptokurtic while on Wednesday and Thursday are platykurtic. Through table it is also observed that range on Monday is highest which is also a measure of Dispersion. There is a significant difference in mean returns across different the different days of the week as evident by K-W (H) statistics (21. 78) which is highly significant at 1 percent level of significance. Therefore the null hypothesis of equality of mean returns across various days of the week stands rejected. |Table 1. Summary Statistics of Daily Stock Returns of S;P CNX Nifty(Jan 1994-Dec. 2008) | |   |Monday |Tuesday |Wednesday |Thursday |Friday |All Days | |Mean |-0. 08563 |-0. 07615 |0. 30300 |0. 1895 |0. 03221 |0. 03838 | |Standard Deviation |1. 8 7030 |1. 50858 |1. 62655 |1. 55153 |1. 74090 |1. 66944 | |Skewness |-0. 71612 |-0. 15909 |0. 40400 |-0. 05609 |-0. 35999 |-0. 24662 | |Kurtosis |4. 29741 |4. 47636 |1. 79652 |1. 53957 |5. 66062 |3. 98682 | |Range |7. 54838 |8. 29523 |7. 9590 |6. 30507 |7. 83089 |20. 53297 | |No. of Observations |741 |742 |740 |744 |728 |3695 | |K – W(H) Statistics 21. 278* | * Significant at 1 percent level for 5-1 degrees of freedom Table 2 represents actual and expected multiple comparison values as per Dunn’s multiple pair comparison test to study pair wise comparison among different days of the week. This test is based on rank matrix built in Kruskall Wallis Test. The calculation of actual and expected values is shown in table 3 while the deviation of actual from expected ranks is shown in table 3. So it is observed from the table 3 that there is inequality in Monday – Wednesday, Tuesday – Wednesday, Wednesday – Thursday and Wednesday – Friday pairs as these are showing positive deviation of absolute rank sum values from the corresponding Z value or expected value. It means these pairs are showing more inequality in returns than expected and Tuesday – Wednesday is showing highest positive deviation. Also it is observed from the table that Wednesday appears in all above pairs. It means Wednesday returns are significantly different from the other days of week. Wednesday is showing highly different mean returns from rest of the days. So a trading strategy of buying on Tuesday and selling on Wednesday may help an investor to earn abnormal returns. |Table 2. Actual and Expected Multiple Comparison Values | | | |   |Actual |Expected | |   ||RU ? Rv| |Z |[N(N+1)/12]1/2 |(1/nu+1/nv)1/2 |Z[N(N+1)/12]1/2 (1/nu+1/nv)1/2 | |Monday-Tuesday |40. 64 |2. 575 |1066. 799 |0. 0519 |142. 6521 | |Monday-Wednesday |197. 07 |2. 575 |1066. 799 |0. 0520 |142. 7620 | |Monday-Thursday |30. 38 |2. 575 |1066. 799 |0. 0519 |142. 5697 | |Monday-Friday |50. 24 |2. 75 |1066. 799 |0. 0522 |143. 3388 | |Tuesday-Wednesday |237. 71 |2. 575 |1066. 799 |0. 0520 |142. 7070 | |Tuesday-Thursday |71. 02 |2. 575 |1066. 799 |0. 0519 |142. 5147 | |Tuesday-Friday |90. 88 |2. 575 |1066. 799 |0. 0522 |143. 3114 | |Wednesday-Thursday |166. 69 |2. 575 |1066. 99 |0. 0519 |142. 6246 | |Wednesday-Friday |146. 83 |2. 575 |1066. 799 |0. 0522 |143. 3938 | |Thursday-Friday |19. 86 |2. 575 |1066. 799 |0. 0521 |143. 2015 | |Table 3. Deviation of Actual from Expected Rank Differences | |Monday-Tuesday |-102. 12 | | | |Monday-Wednesday |54. 308 | | | |Monday-Thursday |-112. 190 | | | |Monday-Friday |-93. 099 | | | |Tuesday-Wednesday |95. 03 | | | |Tuesday-Thursday |-71. 495 | | | |Tuesday-Friday |-52. 431 | | | |Wednesday-Thursday |24. 065 | | | |Wednesday-Friday |3. 436 | | | |Thursday-Friday |-123. 41 | | | Table 4 represents the yearly distribution of mean returns on S;P CNX Nifty for different days of the week from 1994 to 2008. Also to test whether these differences in the mean returns on different days are statistically significant or not, the non parametric ‘H’ statistics has been used. The table value of the chi-square (? 2) distribution at 1 percent level of significance is 13. 277 and at 5 percent level of significance is 9. 488. If we look at year wise KW statistics, up to year 1999 ‘H’ statistics is highly significant and after 1999 it is insignificant. |Table 4. Yearly Distribution of Mean Returns on S;P CNX Nifty by Day-of-the-Week | |(January 1994 – December 2008) | | | | | |Year/Day |Monday |Tuesday |Wednesday |Thursday |Friday |KW Statistics | |1994 |0. 47012 |-0. 16573 |-0. 36687 |0. 01075 |0. 32745 |9. 945** | |1995 |-0. 51580 |-0. 33583 |0. 25709 |-0. 6627 |0. 11756 |11. 145** | |1996 |-0. 35599 |-0. 35342 |0. 53600 |0. 18662 |0. 07796 |10. 114** | |1997 |-0. 46253 |-0. 14396 |1. 04706 |-0. 16222 |-0. 06761 |19. 917* | |1998 |-0. 12914 |-0. 52606 |0. 78280 |-0. 15417 |-0. 22507 |13. 245** | |1999 |-0. 00553 |0. 07532 |0. 98097 |0. 10327 |-0. 00305 |14. 48* | |2000 |-0. 16997 |-0. 28629 |0. 49777 |-0. 10239 |-0. 16992 |4. 989 | |2001 |-0. 21325 |0. 11775 |0. 30553 |0. 08010 |-0. 60214 |4. 987 | |2002 |0. 00508 |-0. 15830 |-0. 05939 |0. 07054 |0. 22584 |4. 226 | |2003 |0. 15214 |0. 13598 |0. 26208 |0. 13987 |0. 38014 |2. 323 | |2004 |-0. 4126 |0. 26824 |0. 04482 |0. 02138 |0. 07889 |1. 236 | |2005 |0. 29696 |0. 04875 |0. 02291 |0 . 08195 |0. 18711 |1. 806 | |2006 |-0. 09098 |0. 01140 |0. 22203 |0. 22753 |0. 33653 |1. 198 | |2007 |0. 24310 |0. 32425 |0. 02874 |0. 30801 |0. 02442 |2. 139 | |2008 |-0. 36369 |-0. 13064 |-0. 04547 |-0. 5441 |-0. 24632 |1. 46 | | All Years |-0. 08563 |-0. 07615 |0. 30300 |0. 01895 |0. 03221 |21. 278* | | | | | | | | | |*Significant at 1% level | | | |**Significant at 5% level | | | Further entire study period has been divided into two sub periods: Period 1 (January 1994 to Decemeber 2001) and period 2 (January 2002 to December 2008). Period 1 represents the time when weekly settlement was operational and during this time frame NSE had fixed settlement day – Tuesday. Period 2 represents the time period when rolling settlement was introduced in place of weekly settlement cycle. | | | | | | | | |Table 5. Mean Daily returns on S;P CNX Nifty by Day of the Week for Sub-Periods | |   |Monday |Tuesday |Wednesday |Thursday |Friday |KW Statistics | |Subperiod-1 |-0. 17276 |-0. 20228 |0. 50504 |-0. 01304 |-0. 06810 |42. 752* | |Subperiod-2 |0. 00197 |0. 05294 |0. 09734 |0. 03923 |0. 12735 |2. 84 | | | | | | | | | | | |*Significant at 1% level | | | It is analyzed from the above table that in sub period 1 (1994 to 2001) all days except Wednesday gives negative rate of return. This is clearly the impact of Tuesday settlement that returns on Tuesday are lowest and on Wednesday it is highest positive. It means beginning of settlement cycle ives maximum returns while last day of settlement cycle called settlement day gives lowest returns. Also a very high value of KW statistics i. e. 42. 752 represents a high degree of seasonality in sub period 1 (before rolling settlement time period). To bring more frequency in the transactions and to bring Indian markets at par with the international markets rolling settlement on T+5 basis was introduced in December 2001. So in sub period 2 when rolling settlement was introduced, returns on all the days have become positive and Friday is giving maximum returns and Monday is giving lowest returns. This hints towards the presence of some sort of weekend seasonality. But the value of ‘H’ statistics is very low i. e. 2. 684. From this it can be inferred that the return distributions are not significantly different across the week days and the null hypothesis stands rejected in the sub period 2. Thus it may be concluded that with the introduction of rolling settlement on NSE the stock markets have become more efficient. CONCLUSION During the period 1994 to 2008, S;P CNX Nifty index recorded highest positive returns on Wednesday and most negative returns on Monday with highest volatility on Monday and Friday. It means week start and week end tend to be more volatile in Indian stock market. Also it has been analyzed that Wednesday is giving significantly higher returns than other days of the week which points towards the existence of Wednesday effect in Indian stock market. There was presence of day of the week effect in pre-rolling settlement period which gradually phased away with the introduction of the rolling settlement. Markets have become efficient after rolling settlement has been introduced. So in present scenario we can’t rely on a trading strategy formulated on the basis of historical return movements on different days to earn abnormal returns as seasonality has disappeared in the recent years of the study period. How to cite Revisiting Day of the Week Effect in Indian Stock Market, Papers

Dementia Brain and Self Care Activities free essay sample

Alzheimers disease is a progressive disease that destroys memory and other important mental functions. In Alzheimers disease, the connections between brain cells and the brain cells themselves degenerate and die, causing a steady decline in memory and mental function. The disease was first described by Dr. Alois Alzheimer, a German physician, in 1906. Its the most common cause of dementia — a group of brain disorders that results in the loss of intellectual and social skills. These changes are severe enough to interfere with day-to-day life. Definition Alzheimers disease is a progressive, degenerative disorder that attacks the brains nerve cells, or neurons, resulting in loss of memory, thinking and language skills, and behavioral changes. Epidemiology An estimated 5% of people older than age 65 have a severe form of this disease, and 12% suffer from mild to moderate dementia. Because this is a primary progressive dementia, the prognosis for a patient with this disease is poor. Causes †¢Unknown †¢Neurochemical factors, such as deficiencies of the neurotransmitters, acetylcholine, somatostatin, norepinephrine. †¢Viral factors such as CNS factors. †¢Genetic immunological factors †¢Trauma †¢Environmental factors, such as aluminium and manganese Risk factors Age Increasing age is the greatest known risk factor for Alzheimers. Alzheimers is not a part of normal aging, but the risk increases greatly after the person reach age 65. Nearly half of those older than age 85 have Alzheimers. Family history and genetics The risk of developing Alzheimers appears to be somewhat higher if a first-degree relative — if the person’s parent or sibling — has the disease. If there is changes (mutations) in three genes that virtually guarantee a person who inherits them will develop Alzheimers. But these mutations account for less than 5 percent of Alzheimers disease. Sex Women may be more likely than are men to develop Alzheimers disease, in part because they live longer. Mild cognitive impairment People with mild cognitive impairment (MCI) have memory problems or other symptoms of cognitive decline that are worse than might be expected for their age, but not severe enough to be diagnosed as dementia. Those with MCI have an increased risk — but not a certainty — of later developing dementia. Past head trauma People whove had a severe head trauma or repeated head trauma appear to have a greater risk of Alzheimers disease. Lifestyle and heart health Lack of physical activity, cognitive stimulation, social engagement and a healthy diet. Others Lack of exercise Smoking High blood pressure High blood cholesterol Poorly controlled diabetes A diet lacking in fruits and vegetables Lack of social engagement Stages and Symptoms Alzheimer’s disease progresses in three stages: a)Mild or Early Stage Functions Symptoms Language Anomia, empty speech Memory Defective Visuospatial skills Impaired Calculation Impaired Personality Indifferent, occasionally irritable, sad or depressed Motor system Normal EEG Normal CT/MRI scan Normal b)Moderate or Middle Stage Functions Symptoms Language Fluent aphasia Memory Severely impaired Visuospatial skills Severely impaired Personality Indifferent, irritable, suspicious and angry Motor system Restless, pacing EEG Slowing of background rhythms CT scan/ MRI Atrophy c)Severe or Late Stage Functions Symptoms Intellectual function Severely impaired Language Palilalia, echolalia or mutism Motor system Limb rigidity Sphincter control Incontinence EEG Diffuse slowing CT scan/ MRI Diffuse atrophy Tests and Diagnosis †¢History taking of the patient with his/her near family members, relatives and friends. †¢Physical and neurological exam Reflexes Muscle tone and strength Ability to get up from a chair and walk across t the room Sense of sight and hearing Coordination Balance †¢Lab tests Blood tests may help to rule out other potential causes of memory loss and confusion, such as thyroid disorders or vitamin deficiencies. †¢Mental status testing A brief mental status test is done to assess the memory and other thinking skills. Short forms of mental status testing is done which takes about 10 minutes. †¢Neuropsychological testing consists of a battery of tests designed to assess cognitive ability and reasoning. These tests can help differentiate Alzheimer’s disease from other types of dementia. †¢Cerebrospinal Fluid Analysis may help determine if the patient’s signs and symptoms stem from a chronic neurologic infection. Cerebral blood flow studies may detect abnormalities in blood flow to the brain. †¢EEG Allows evaluation of the brain’s electrical activity and may show slowing of the brain waves in the late stages of the disease. This diagnostic test also helps identify tumors, abscesses, and other intracranial lesions that might cause the patient’s symptoms. †¢Brain imaging Images of the brain are now used chiefly to pinpoint visible abnormalities related to conditions other than Alzheimers disease — such as strokes, trauma or tumors — that may cause cognitive change. Brain-imaging technologies include: Computerized tomography (CT) In some patients shows progressive brain atrophy in excess of that which occurs in normal aging. -Magnetic resonance imaging (MRI) Magnetic resonance imaging may permit evaluation of the condition of the brain and rule out intracranial lesions as the source of dementia. -Positron emission tomography (PET) Measures the metabolic activity of the cerebral cortex and may help confirm early diagnosis. Treatments and drugs †¢No cure or definitive treatment exists for Alzheimer’s Disease. Treatment focuses on attempting to slow disease progression, managing behavioral problems, implementing modifications of the home environment, and eliciting family support. †¢However some medications have proven helpful. Cholinesterase inhibitors ?These drugs work by boosting levels of a cell-to-cell communication chemical depleted in the brain by Alzheimers disease. Less than half of those taking these drugs can expect to have any improvement in their memory function. ?Commonly prescribed cholinesterase inhibitors include donepezil (Aricept), galantamine (Razadyne) and rivastigmine (Exelon). The main side effects of these drugs include diarrhea, nausea and sleep disturbances. Memantine (Namenda) ?This drug works in another brain cell communication network and slows the progression of symptoms with moderate to severe Alzheimers disease. Its sometimes used in combination with a cholinesterase inhibitor. Prevention †¢Many of the same factors that increase the risk of heart disease can also increase the risk of Alzheimers disease and vascular dementia. Important factors that may be involved include high blood pressure, high blood cholesterol, excess weight and diabetes. Therefore considerations should be made for reducing the risks related to the disease. †¢Physical activity, cognitive stimulation, social engagement and a healthy diet may be helpful. These activities also help in memory compensation strategies that help optimize daily function even if brain changes progress. †¢Keeping active — physically, mentally and socially — may make life more enjoyable and may also help reduce the risk of Alzheimers disease. †¢Regular exercise has known benefits for heart health and may also help prevent cognitive decline. Exercise may also help improve mood. †¢A diet low in fat and rich in fruits and vegetables is another heart-healthy choice that also may help protect cognitive health. †¢Omega-3 fatty acids found in fish are good for the heart and can boost on cognitive health. †¢Social engagement and intellectual stimulation may make life more satisfying and help preserve mental function. Nursing Management Assessment History Taking Mental Status Examination Physical Examination Reviewing Symptoms Nursing Diagnosis ? Impaired thought process related to declining cognitive function ? Risk for injury related to decline in cognitive function ? Anxiety related to confused thought processes ? Imbalanced nutrition less than body requiremente related to cognitive decline ? Activity intolerance related to imbalance in activity/rest pattern ? Deficient self care, bathing/hygiene, feeding, toileting related to cognitive decline ? Impaired social interaction related to cognitive decline ? Deficient knowledge of family/caregiver related to care for patient as cognitive function declines Planning and Goal Supporting cognitive function Promoting physical safety Reducing anxiety Maintaining adequate nutrition Improving activity tolerance Promoting independent in self care activities Meeting socialization needs Improve education for caring the patient at home Nursing Intervention ?Supporting cognitive function Provide a calm, predictable environment to minimize confusion and disorientation. Help patient feel a sense of security with a quiet, pleasant manner, clear, simple explanation and use of memory aids and cues. ?Promoting physical safety Provide a safe environment to allow patient to move about as freely as possible and relieve family’s worry about safety. Prevent falls and other accidents by removing obvious hazards and providing adequate lighting. Monitor intake of medication and food. Supervise all activities outside the home to protect patient. Avoid restraints, because they may increase agitation. ?Reducing anxiety and agitation Give emotional support to support a positive self image. When skill losses occur, adjust goals to fit patient’s declining ability and structure activities to help prevent agitation. Keep the environment simple, familiar, and noise free; limit changes. Remain calm and unhurried. Use easy to understand sentence to convey messages. ?Promoting adequate nutrition Keep mealtimes simple and calm. Cut food into small pieces to prevent choking and convert liquids to gelatin to ease swallowing. Offer one dish at a time. Prevent burns by serving typically hot food and beverages warm. ?Balancing activity and rest Help patient to relax to sleep with music, warm milk or a back rub. To enhance night time sleep, provide sufficient opportunities for day time exercise. Discourage long periods of day time sleeping. ?Promoting independence in self care activities Simplify daily activities into short achievable steps so that the patient feels sense of accomplishments. Maintain patient’s personal dignity and autonomy. Encourage patient to make choices when appropriate and to participate self care activities as much as possible. ?Meeting socialization needs Encourage visits, letters and phone calls. (visits should be brief and nonstressful; with one or two visitors at a time). ?Family Teaching Advise family member to provide patients with exercise. Suggest physical activities, such as walking or light house work, that occupy and satisfy the patient. Tell them about the importance of diet. The patient becomes forgetful especially of recent events. Aware of his function, he may compensate by relinquishing tasks that might reveal his forgetfulness.