Assignment 1 Answers free essay sample

An American call choice gives one the right, yet not a commitment, to purchase a predefined number of portions of a stock at a predetermined cost called exercise or strike cost before the development date or on the development date (a future date). In contrast with European choices, American alternatives can be practiced before the development date. 2. Characterize Skewness and Kurtosis and furthermore clarify why these are useful10 pts Answer Skewness and Kurtosis are proportions of scattering of the information around its mean as they measure state of likelihood conveyance. Skewness gauges the level of asymmetry. Its worth ranges somewhere in the range of 0 and 1, where 0 infers evenness (typical dispersion). A positive skewness shows a moderately long right tail and the other way around. Kurtosis demonstrates the degree to which likelihood is gathered in the middle and the tail of the circulation. An estimation of 3 shows typical dissemination, while an estimation of K gt; 3 demonstrates overwhelming tails. The skewness and kurtosis of an irregular variable are Sk (n,p) = E {X †E(X)}3/? 3 and K = E {X †E(X)}4/? 4 3. Peruse Sewell (2011) paper and . characterize schedule impacts, and b. talk about quickly seven distinctive schedule impacts distinguished in writing (your answer will not surpass one page) 30 pts Answer a. Schedule impacts are seen as repeating abnormalities in returns, where the repetitive examples in information can be attributed to change in volume and action during certain timeframes. For example intraday impacts, the end of the week impact, the Monday impact, intra-month impacts, the January impact, occasion impacts, the Halloween marker and the sunshine sparing oddity. The most significant schedule abnormalities recognized by Sewell are the January impact and the end of the week impact. b. There are a few distinct sorts of schedule impacts distinguished in writing. * Intraday impacts are known to exist, * the end of the week impact appears to have everything except vanished, * intramonth impacts were found in many nations, * the January impact has split, and * occasion impacts exist in certain nations. Halloween Indiactor: an exchanging system of strategic resource portion dependent on the familiar axiom * ‘sell in May and go away’ created irregular returns in correlation with securities exchange records in many nations * Daylight Saving Effect: Daylight-sparing ends of the week are ordinarily trailed by huge negative profits for monetary market files (about 200 to 500 percent in contrast with end of the week impact), and scientists contend that the impact could be a direct result of changes in rest designs. Part II: R-Code Programming 1. A R developer ran the accompanying code and he/she got a blunder message. ) gt; testnorm lt;- rnorm(1000) gt; hist(testnorm, prob = TRUE) gt; mu lt;- mean(testnorm) gt; sigma lt;- sd(mynorm) Error in sd(mynorm) : object mynorm not discovered b) gt; x lt;- seq(- 4, 4, length = 1000) gt; y lt;- dnorm(x, mu, sigma) Error in dnorm(x, mu, sigma) : object sigma not discovered c) gt; lines(x, y, col = ‘blue’) Error: sudden contribution to lines(x, y, col = ‘ Please show for each situation what caused the mistake in order if conceivable compose the necessary amendment for the code. 20 Pts a. Answer: The variable mynorm should be made before utilizing in an order. Here the variable we made is testnorm, which is utilized in the computation of mu and same variable can be utilized (or renamed) in sigma (SD) estimation. Adjustment required here is gt; sigma lt;- sd(testnorm) Or on the other hand gt; mynorm lt;- testnorm b. Answer: Same as over, one needs to ascertain sigma and mu before executing the subsequent order line. One needs to include the accompanying code lines. x lt;- seq(- 4, 4, length = 1000) mu lt;- mean(x) sigma lt;- sd(x) y lt;- dnorm(x, mu, sigma) c. Answer: One needs to determine quotes â€Å"† around the alternative ‘blue’ lines(x, y, col = â€Å"blue†) . Do the accompanying utilizing R and append a printout of diagrams and codes utilized in analysis30 pts You may present a high contrast printout of the chart on the off chance that you don't have a shading printer, however code is required as it will check the orders utilized for shading the chart. a. Download the manual and information for Time Series Analysis with R, Part I by Walter Zucchini, Oleg Nenadi? for reference as you may require it to finish the task. http://www. statoek. wiso. uni-goettingen. de/veranstaltungen/zeitreihen/sommer03/ts_r_intro. pdf b. Download information document tui. ip from the site given in manual http://134. 76. 173. 220/tui. zip and read it in R utilizing proper code. c. Record last three digit of your understudy ID number __ on the off chance that you are working in a gathering, simply utilize the gathering # rather instead of last digit. d. On the off chance that the last number of the three numbers composed above to a limited extent ‘c’ (or your gathering number) is: I. Indeed: plot a line diagram of arrangement in second section utilizing red shading [warning: don't do this if the number is odd, rather do (ii)]. Mark your diagram suitably ii. On the off chance that your last digit isn't (is odd rather): Plot a line diagram of arrangement in third segment in blue shading. Mark the diagram suitably. For Even Number in (c) tui lt;- read. csv(C:/ratsdata/tui. csv, header=T, dec=,, sep=;) plot(tui[,2], type=l, lwd=2, col=red, xlab=time, ylab=opening values, main=Any Title, ylim=c(0,60) ) For Odd Number in (c) tui lt;- read. csv(C:/ratsdata/tui. csv, header=T, dec=,, sep=;) plot(tui[,3], type=l, lwd=2, col=blue, xlab=time, ylab=high values, main=Any Title, ylim=c(0,60) ) |

Endurance in Night by Eli Wiesel Essay -- essays research papers

In the Face of Adversity      à ¢Ã¢â€š ¬Ã…Most of the significant things on the planet have been practiced by individuals who have continued difficult when there appeared to be no assistance at all.㠢â‚ ¬? Dale Carnegie accepted that tirelessness could defeat even the harshest deterrents. Persistence is propelled by a reason, an unsatisfied drive to accomplish an objective. During a disastrous occasion, just individuals with a reason persevere.      In Night, Eliezer perseveres through the Holocaust with a reason to keep his dad alive. He is a 15 years of age kid when he and Chlomo started their excursion through the dangerous camps of Auschwitz, Buna, and Buchenwald. In the end, Eliezer loses his confidence in God however not in his dad. à ¢Ã¢â€š ¬Ã…He had felt that his dad was developing frail, he had accepted that the end was close and had looked for this partition so as to get free the weight, to liberate himself from an encumbrance à ¢Ã¢â€š ¬Ã¢ ¦ My God, Lord of the Universe, invigorate me never to do what Rabbi Eliahou㠢â‚ ¬Ã¢â€ž ¢s child has done㠢â‚ ¬Ã¢ ¦Ã£ ¢Ã¢â€š ¬?(87). The inspiration Eliezer needs to suffer is to keep his dad alive. Despite the fact that his dad is a steady weight, Eliezer is resolved never to abandon his dad like Rabbi㠢â‚ ¬Ã¢â€ž ¢s Eliahou㠢â‚ ¬Ã¢â€ž ¢s child endeavors. In any event, when Chlomo gets debilitated with looseness of the bowels, Eliezer remains close by. He gives his dad his own soup, relinquishes his own bread, and even attempts to get a specialist to help. à ¢Ã¢â€š ¬Ã…For a proportion of bread, I figured out how to change beds with a detainee in my father㠢â‚ ¬Ã¢â€ž ¢s bunk㠢â‚ ¬Ã¢ ¦Ã£ ¢Ã¢â€š ¬? (1...

Some CPW Thoughts

Some CPW Thoughts CPW hosts This past week, my colleagues and I spent many, many hours matching you with an MIT student host for CPW. With a record number of you expected for CPW, and a large portion of the campus hoping to serve as a host for you, you can imagine how time consuming this can be. Even daylight saving time didnt help me leave the office before dark. Most of you should hear from your CPW hosts tonight or tomorrow. Even if for some reason you dont, dont worry I assure you we have a host for you. CPW invades my dreams After the long workdays this week, I couldnt even escape CPW while I was sleeping. One night, I dreamed that one of the performances at the CPW Closing on Saturday was me and Samuel L. Jackson reciting lines from Snakes on a Plane. Im not really sure why we were doing it at CPW. I remember Sam and I having a conversation about whether it was approporiate for him to censor himself when delivering his famous line from the film (Ive had it with these snakes on this plane.). Another night, after seeing the new banner for the Class of 2011 Facebook group, I had a dream where I visited Snively at his school. I walked in in the middle of biology lab class, and the teacher didnt think it was odd that some random stranger just sauntered on into the room. CPW weather The sometimes-reliable weather.com is predicting highs in the 40s/lows in the 30s for CPW (whats been up with the weather across the country lately?). Theyre also predicting rain for Thursday, thought the rest of the weekend is looking okay. Pack/dress accordingly! Things I missed this week while host matching Jamaica Kincaid lecture Three lectures by Terry Tao Talk by Apprentice/MIT alum Randall Pinkett Ben and Marilee rehearsing for Battle of the Bands Desi Pardesi: The MIT South Asian American Students Cultural Show Breakonomics breakdancing/bboying Jam MIT Hawaii Club Luau 2007: Authentic Hawaiian Luau with onolicious Hawaiian food, local musical entertainment from the islands, tahitian dancers, hula dancers, samoan dancers, and great company! Thoughts Its a lot of work to prepare for CPW, but when everyone arrives, it all becomes worth it. I cant wait to meet you (or see you again)!

The Bombay Stock Exchange Market Capitalization - Free Essay Example

Sample details Pages: 19 Words: 5643 Downloads: 4 Date added: 2017/06/26 Category Statistics Essay Did you like this example? Central Public sector Undertakings and Public Sector Financial Institutions (CPSEs and PSFIs) were seen as white elephants and cash cows during the 1960s 70s and 80s. After the liberalization from the early 90s the continuous losses, operational and administrative inefficiencies have created a number of problems for them. However at the same time, so many companies in the public sector are still doing well and contributing significantly to the exchequer, even though the dominance is in the hands of the private sector. Don’t waste time! Our writers will create an original "The Bombay Stock Exchange Market Capitalization" essay for you Create order Objectives of the study are To find the pattern of movement of the CPSEs and PSFIs stocks quoted at BSE and BSE total market capitalization. To find whether CPSEs and PSFIs market capitalization plays a significant role in the total BSE market capitalization. To find whether individual CPSEs Sectoral market capitalization influences BSE market capitalization. The study observes that overall CPSEs and PSFIs have contributed 23 percent on average and CPSEs have contributed 19.57 percent and PSFIs 3.44 percent for the BSE market capitalization during the study period. From the regression analysis it is observed that R2 value is 0.96 and it is understood that the relation is very strong and positive and it indicates that there is a good fit between the market capitalization of BSE and PSU. The paper concludes that the contribution of CPSEs and PFSIs has been on an increasing trend and this would provide stability to the stock market in the long run as there involves control of the gover nment in the operations of these CPSEs and PFSIs. *Assistant Professor (Finance), Institute of Public Enterprise, Osmania University, Hyderabad. ** Senior Professor and Director, Institute of Public Enterprise, Osmania University, Hyderabad. Introduction: Central Public sector Undertakings and Public Sector Financial Institutions (CPSEs and PSFIs) were seen as white elephants and cash cows during the 1960s 70s and 80s. After the liberalization from the early 90s the continuous losses, operational and administrative inefficiencies have created a number of problems for them. However at the same time, so many companies in the public sector are still doing well and contributing significantly to the exchequer, even though the dominance is in the hands of the private sector. This is because of their strengths like clear balance sheets and accountability and the fact that they are in the core sectors. In the stock markets too CPSEs and PSFIs have been playing a pervasive role in the post liberalization scenario. Most of the market players, both indigenous and foreign, have been shifting their portfolio investments to public sector undertakings scrips due to the increasing volatility with equity investments of the private sector. The public s ector alone was responsible for a Plan investment of about Rs. 1,70,000 crores during the first two years of the Tenth Five-Year Plan. The overwhelming response to the six IPOs of PSUs within just three months, of January to March 2004, also indicates the confidence institutional buyers as well as retail investors have in Central public sector Undertakings. The Government exercises control over these CPSEs and PSFIs compared to the other Public Limited Companies in the following counts: 1. CPSEs are subjected to Comptroller and Auditor General (CAG) audit other than the statutory audit which is mandatory under Companies Act 1956 ensures clear and clean balance sheet. 2. Guidelines on corporate governance for CPSEs are mandatory for all the CPSEs from March 25th, 2010. The guidelines cover issues like composition of Board of CPSEs, Audit Committee, Subsidiary companies, Disclosures, Code of conduct and ethics, risk management and reporting. The continued implementation of these guidelines on Corporate Governance for CPSEs will facilitate protection of interest of shareholders and other stakeholders and also ensure transparency in the operations of CPSEs. 3. The Department of Public Enterprises, Ministry of Heavy Industries and Public Enterprises have issued in April 2010, comprehensive à ¢Ã¢â€š ¬Ã…“Guidelines on Corporate Social Responsibility (CSR) for Central Public Sector Enterprisesà ¢Ã¢â€š ¬?. These Guidelines are mandatory for all the CPSEs but other Public Limited Companies does have CSR but there are no compulsion these companies to adhere. 4. Constitution of Task Force on Memorandum of Understanding MoU by the Government of India: The (MoU) is a mutually negotiated agreement between the management of the enterprise and Government of India. Under this agreement, both sides come to a mutual understanding regarding the targets (both financial and non-financial) to be achieved by the enterprise in the ensuing year and the commitments to be fulfilled by the Government that are considered essential in fulfillment of those targets. MoU System is a major policy initiative of the Government of India in facilitating the empowerment and enhancing the performance levels of the Central Public Sector Enterprises 5. The total number of CPSEs 246 companies are under various ministries like Ministry of Steel, Ministry of Heavy Industries etc., these are headed by the Cabinet Minister. The CMDS of CPSEs will be reporting to the secretary who represents the government this ensures good governance. 6. Compulsory appointment of government representative in the company in the form of independent director. 7. Government set up a Board for Reconstruction of Public Sector Enterprises (BRPSE) in December, 2004 to advise the Government, inter alia, on measures to be taken to restructure / revival of sick Central Public Sector Enterprises (CPSEs). Inspite of the above, there are many issues that being raised by the market and public need to be addressed. They are in regard to profitability, liquidity, dividend pay out, large and diverse investments, obsolete technology, lesser market orientation, over- regulation and control by government, etc. In fact, it is these issues that are pulling CPSUs into down. It is also asserted that the failure of CPSUs both in the product market and financial market is because of these factors. The question that arises here therefore, is whether the public sector enterprises are performing in the markets or not. This is not just a simple doubt of the researcher but a million dollar question as well. With this backdrop an attempt is made in the study to evaluate the Contribution in terms of market capitalization of public enterprises in the stock market with reference to the companies quoted at the Bombay Stock Exchange. Review of Literature: Viviana (2011) focus on spatial version of the Capital Asset Pricing Model as this model specification makes it possible to account for alternative measures of distance between firms, such as market capitalization, the market-to-book, and other financial ratios. The model is tested on a panel of 126 Latin American firms. Lima and et al. (2010) paper is finds that Cramers stock-picking style is consistent with a positive-feedback trading strategy, favouring stocks which have outperformed over an interval prior to the pick date. Subsequent to a pick, Cramers immediate effect on a stock appears inversely proportional to the corresponding firms market capitalization. Clarke and et al. (2010) The paper focuses on the set of common factors that explains the cross section of individual stock returns, as that of Fama and French a three-factor model that includes the market size, which is frequently cited in academic research and widely used in portfolio management. Hasenfuss and et al. (2010) the article focuses on the market capitalization of the Top 200 companies in South Africa. It notes that market capitalization can demonstrate which stocks have gained or lost market support. Thomas and et al. (2009) In this article, capitalization rates, based on market price data for commercial real estate transactions from 2006 through the first quarter of 2008 for 25 regional cities in Ukraine, were calculated and analyzed to show the ongoing development of the commercial real estate market in this transitional economy. Chung and et al. (2010) tries to build a relationship between liquidity, market efficiency and market capitalization by taking NYSE quoted firms and concludes that higher liquidity and market efficiency ensures larger market capitalization. De Klerk and et al. (2010) the notes that small capitalization business in South Africa is those with a market capitalization of less than 1 billion rand. The authors conclude that even though companies are successful, it is still a challenge when investing their shares because the liquidity of those shares is low which make it difficult to invest. Kumar and et al. (2009) the authors focus on a develop a framework to link customer equity (CE) to market capitalization (MC). The findings show that a CE-based framework can reliably predict the MC of the firm and marketing strategies directed at increasing the CE not only increase the stock price of the firm but also beat market expectations. Koch and et al. (2011) The authors tested the magnitude of various announcements on Apples share price and its market capitalization (9 events including Mr. Steve Jobs Health). The authors conclude that Jobs health has an impact on Apples share price and market capitalization, but that impact is not always negative and not nearly as large as many observers apparently believe. DRIP (2011) the article offers the authors insights on the advantages of investing in mid-capitalization (midcap) stocks. The author says that midcaps give investors growth potential to large caps and huge size to risky small caps. The author concludes that midcaps offer big profits compared to both large and small caps. Besterand et al. (2008) this article aims to determine the methods used by companies listed on the JSE Securities Exchange South Africa (JSE) to calculate their number of shares when publishing market capitalisation. It was found that only about 25% of companies participating in share repurchase and publishing market capitalisation in their annual reports calculated market capitalisation based on the number of group shares. About 75% of the companies did not calculate their market capitalisation based on the number of group shares (i.e. they omitted to deduct subsidiary repurchases and/or trust consolidations in their calculation of the number of shares). Nawrocki and et al. (2010) while previous studies of industry competitive have traditionally utilized sales or market share data, it can be argued that concentration indices and other metrics based on the market value of the firms in an industry should be a good proxy for market power within an industry. Cendrowski and et al. (2010) the author uses market capitalisation as a tool to decide whether to purchase Apple stock during 2010. Cline and et al. (2010) The authors examine executive stock option exercises around a sample of 1,268 seasoned equity offerings (SEOs) from 1996 to 2004 focusing on a subset of exercises we identify as potentially informed. It is found from six months prior to the announcement date to six months after issuance; an average 1.76% of the total market capitalization for issuing firms is exercised and sold. According to Ericson (2010) the three external benchmarks to be consulted by organizations and boards are analyst predictions, market capitalization multiples and stock prices while setting the financial targets for corporations. Yan and et al. (2010) The authors designed modified value investing strategies in emerging equity markets by comparing a countrys value weight with its market capitalization weight among a group of emerging countries. From the above review of the literature on the topic, it is found that prime importance is given for market capitalization in taking financial decisions by the corporations, buying or selling of shares by the investors, researchers and stock analysts in deciding the various factors affecting the share prices. The above literature also reveals that vast work is done in this area abroad but still there are gaps in Indian context and especially for the CPSE stocks which are traded in the stock markets in India and this study would form a basic work and eye opener for the future studies in this area of research and on the basis of the above the objectives and hypothesis are set. Methodology: Market capitalization Market capitalization is the total value of a companys free float as determined by its share price in the stock market; it is calculated as the number of free float of ordinary shares multiplied by the previous days closing share price. Thus market capitalization = (Share Price * Free float of shares). The market capitalization of any stock is an important indicator showing what the worth of the company is. Objectives of the study: To find the pattern of movement of the CPSEs and PSFIs stocks quoted at BSE and BSE total market capitalization? To find whether CPSEs and PSFIs market capitalization plays a significant role in the total BSE market capitalization. To find whether individual CPSEs sectoral market capitalization influences BSE market capitalization? Hypothesis to be tested Whether CPSEs and PSFIs market capital has an influence over the BSE market capital H0 = CPSEs and PSFIs market capitalization does not influence the BSE market capitalization. H1 = BSE market capitalization is influenced by the PSU market capitalization Whether individual CPSEs sectoral market capitalization influences BSE market capitalization H0 = Does not influence H1 = Does influence Data and sources: Central Public sector Undertakings (CPSUs) (Central Public Enterprises and Central Financial Institutions) Month-end market capitalization of 41 CPSEs (Annexure -1), Central Public Financial Institutions (17) and total BSE market capitalization for the period 1993-94 to 2007-08. The data is collected from Prowess database. Tools used: Simple regression, Squared Euclidian, trend analysis, correlation matrix, t à ¢Ã¢â€š ¬Ã¢â‚¬Å" test, pie diagram, simple line graphs, tabulation of data. Note1: There are as many as 44 CPSEs are listed on the stock exchanges of India, out of which 5 CPSEs were not traded during 2006-07. Since IBP Co. LTD. has been merged with Indian Oil Corporation, the trading in this script has been discontinued. Public Enterprise Survey 2006-07: Vol No: 1 PP: 2-2 Note2: According to Department of Public Enterprises Survey 2006-07- Volume:3 there are 21 sectors/industries namely, Agro based Industries, Coal and Lignite, Crude Oil, Other Minerals and Metals, Steel, Petroleum (Refinery and Marketing), Fertilizers, Chemicals and Pharmaceuticals, Heavy Engineering, Medium and Light Engineering, Transportation Equipment, Consumer Goods, Textiles, Generation, Transmission, Trading and Marketing, Transportation Services, Contract and Construction Services, Industrial Development Tech. Consultancy Services, Tourist Services, Financial Services and Telecommunication Services. The study has broadly classified the above 41 CPSEs quoted at Bombay Stock Exchange under various sectors like Oil and Gas, Minerals and Metals, Logistics, Power, Engineering, Financial Services, Telecom, Fertilizers and Chemicals and Miscellaneous so as to have meaning ful conclusion as they belong to broad categories for example Generation, Transmission of power are broadly tak en into Power sector. For the purpose of studying the above objectives the market capitalization at the end of the financial year is taken. Further, Nine private companies are chosen on the basis of highest market capitalization during 2007-08 and compared with one of the CPSEs in the same line of activity from each sector to make a comparative analysis between the public sector and private sector. The year 2007-08 was taken keeping into consideration the changes in the stock market- 1. During 2007-08 the secondary market rose on a point-to-point basis with the Sensex and Nifty rising by 47.1 and 54.8 per cent respectively. 2. The Indian financial sector emerged as the third best performing market in the world with a dollar return of 71.23 per cent. 3. The Bombay Stock Exchange (BSE) benchmark index, SENSEX, posted its highest ever absolute gain of 6500 points in over two decades. Further, trend analysis is applied on market capitalization to study the pattern followed through the study period. For the above purpose 1997-98 is taken as base year. To study the influence of PSU market capitalization on BSE market capitalization a simple regression is run taking PSU market capitalization as an independent variable and BSE as a dependent variable for the study period. To know how much these two variables are different, squared Euclidean distance test is used. To obtain the influence of each PSU sectorà ¢Ã¢â€š ¬Ã¢â€ž ¢s market capitalization on the total BSE market capitalization, a simple regression is run taking each sectorà ¢Ã¢â€š ¬Ã¢â€ž ¢s market capitalization as an independent variable and BSE market capitalization as a dependent variable and coefficient is tested using t-test. Table 1 Actual Contribution by PSU Various Sectors to the Total BSE Market Capitalization during 1993-94 to 2007-08 In Rs. Crore YEAR/SECTOR OIL GAS MIN METALS ENGINEERING LOGISITICS TELECOM FERT CHEM POWER FINANCIAL SERVICES MIS.CEL. SUM OF 9SEC TOTAL BSE 1993-94 19673.46 23927.93 4262.07 4227.73 11700.00 3507.48 0.00 0.00 435.54 67734.21 368071.00 1994-95 15096.53 21555.37 3763.09 1798.36 10350.00 3411.15 0.00 0.00 435.54 56410.04 425481.00 1995-96 72614.63 19426.38 3319.43 2017.36 10680.00 2690.06 8534.72 0.00 586.48 119718.12 526476.00 1996-97 68217.68 18317.96 7373.72 4295.82 14460.00 3105.48 7726.17 0.00 709.48 124083.31 463912.00 1997-98 90928.85 10994.86 10127.78 4579.92 16556.40 3731.20 4132.60 0.00 1127.96 141761.09 560325.00 1998-99 42214.57 7212.14 7093.52 2106.52 11125.80 3787.55 1814.75 0.00 1138.61 76482.81 545361.00 1999-00 48981.70 8503.08 4702.43 1862.09 14805.00 2867.95 1042.13 0.00 1296.05 83902.99 912842.00 2000-01 47985.79 7511.58 4290.99 2083.72 8334.90 2528.40 1442.83 0.00 1231.27 75474.26 625553.00 2001-02 81956.92 9014.73 6125.01 4343.45 9289.35 3539.08 3347.03 0.00 1317.67 118846.84 612224.00 2002-03 93956.98 10413.94 7738.24 3755.36 6051.15 3096.21 4420.76 92.23 1890.27 130842.54 572197.00 2003-04 240700.77 31157.76 17792.50 10334.39 8076.60 5194.38 9202.24 99.11 2339.22 324448.02 1201207.00 2004-05 229582.99 57469.60 23397.29 12228.70 7232.40 4786.07 81820.40 136.29 3589.97 418992.96 1698428.00 2005-06 317649.17 86845.69 66153.69 21439.58 11579.40 5258.44 123080.43 268.59 3811.82 635864.96 3022189.00 2006-07 285717.33 94724.57 63096.95 22731.27 9242.10 4284.92 131931.49 12149.44 12708.07 627689.89 3545041.00 2007-08 341268.46 261358.18 109638.41 22861.13 6082.65 5991.31 223776.99 27908.54 112086.34 1011593.74 5296758.00 Average 133103.06 44562.25 22591.67 8044.36 10371.05 3851.98 40151.50 2710.28 9646.95 267589.72 1358404.00 Source: Annexure: 2 Table 1 represents the actual market capitalization of the PSU sectors individually and collectively for the period 1993-94 to 2007-08. From the table it is seen that, on an average, the Oil Gas sector has contributed Rs.1,33,103.06 crore for the period 1993-94 to 2007-08. Contributions by the other sectors are: Minerals Metals Rs.44,562.25 crore, Engineering Rs.22,591.67 crore, Logistics Rs. 8044.36 crore, Telecom Rs.10371.05 crore, Fertilizers chemicals Rs.3,851.98 crore, Power Rs. 40,151.50, Financial Services Rs.2,710.28 and Miscellaneous Rs.9,64,6.95 crore. Further, the table reveals that the sum of the Nine sectors for the year 1993-94 it was Rs.67, 734.21 crore. There is an increasing trend up 1997-98 at Rs.1,41,761.09 crore and a decline to Rs76482.81 crore in 1998-99. During the year 1999-00 there is an increase Rs.83902.99 crore, the trend continued over the rest three years ending at Rs.10,11,593.74 crore. This shows that the contribution by the sectors is good during t he period 1995-96 to 1997-98 and then there is a decline. However, towards the end of the period there is an increasing trend. The table also represents the BSE total market capitalization. In the year 1993-94 it was Rs.3,68,071 crore out of which Rs.67,734.21is contributed by the PSU sector. There is a decrease in total BSE market capitalization from Rs.5,26,476.00 crore in 1995-96 to Rs. 4,63,912.00 crore in 1996-97. During the year 1999-00 it increased to Rs.9,12,842 crore. The BSE market capitalization was reported at Rs.52,96,758 crore in 2007-08. Table 2 Percentage Contribution by PSU Various Sectors to the Total BSE Market Capitalization during 1993-94 to 2007-08 (In Percentage) YEAR/SECTOR OIL GAS MIN METALS ENGINEERING LOGISITICS TELECOM FERT CHEM POWER FINANCIAL SERVICES MIS.CEL. TOTAL 1993-94 5.35 6.50 1.16 1.15 3.18 0.95 0.00 0.00 0.12 18.40 1994-95 3.55 5.07 0.88 0.42 2.43 0.80 0.00 0.00 0.10 13.26 1995-96 13.79 3.69 0.63 0.38 2.03 0.51 1.62 0.00 0.11 22.77 1996-97 14.70 3.95 1.59 0.93 3.12 0.67 1.67 0.00 0.15 26.77 1997-98 16.23 1.96 1.81 0.82 2.95 0.67 0.74 0.00 0.20 25.37 1998-99 7.74 1.32 1.30 0.39 2.04 0.69 0.33 0.00 0.21 14.03 1999-00 5.37 0.93 0.52 0.20 1.62 0.31 0.11 0.00 0.14 9.21 2000-01 7.67 1.20 0.69 0.33 1.33 0.40 0.23 0.00 0.20 12.05 2001-02 13.39 1.47 1.00 0.71 1.52 0.58 0.55 0.00 0.22 19.43 2002-03 16.42 1.82 1.35 0.66 1.06 0.54 0.77 0.02 0.33 22.97 2003-04 20.04 2.59 1.48 0.86 0.67 0.43 0.77 0.01 0.19 27.05 2004-05 13.52 3.38 1.38 0.72 0.43 0.28 4.82 0.01 0.21 24.74 2005-06 10.51 2.87 2.19 0.71 0.38 0.17 4.07 0.01 0.13 21.05 2006-07 8.06 2.67 1.78 0.64 0.26 0.12 3.72 0.34 0.36 17.96 2007-08 6.44 4.93 2.07 0.43 0.11 0.11 4.22 0.53 2.12 20.97 AVG 10.85 2.96 1.32 0.62 1.54 0.48 1.57 0.06 0.32 19.74 Figure 1 Representation of Percentage of PSU Market Capitalization during the Period 1993-94 to 2007-08 Table 2 gives the contribution by various PSU sectors to total BSE market capitalization in percentage. From the table it is observed that the Oil Gas sector, on an average, contributed 10.85 percent of the 19.74 percent by the entire PSUs to total BSE market capitalization. Minerals Metals follows at the rate of 2.96 percent, on an average, for the study period. The total contribution by the nine sectors reveals that in 1993-94 they have contributed 18.40 percent. They increased to 22.77, 26.77, during the years 1995-96, 1998-99 respectively. Then there is a decrease (Figure 1) in the year 1999-00 and recovered in the year 2000-01 at the rate of 9.21 and 12.05 respectively. At the end of the study period, 2007-08, the PSU contribution to total BSE market capitalization is at the rate of 20.97 percent. Figure 2 Representation of average contribution of Market Capitalization by various Sectors during the Study period 1993-94 to 2004-05 Figure 2 represents total contribution by each PSU sector for the period 1993-94 to 2007-08. Oil Gas has contributed 55.00 percent, Mineral Metals 15 percent, Engineering 6.69 percent, Logistics 7.81 percent, Telecom 3 percent, Fertilizers Chemicals2.43 percent, Financial Services .30 percent, Power 7.96 percent and Miscellaneous 1.62 percent. This shows that the Oil Gas sector has contributed 55 percent to the total PSU market capital, with the remaining eight sectors contributing only 45 percent. Comparison of Trends of BSE market capitalization, sectoral market leader and market leader from the private sector and sectoral average Trend analysis of PSU market capitalization The actual market capitalizationà ¢Ã¢â€š ¬Ã¢â€ž ¢s are subjected to trend analysis, which are tabulated in Tables 3 to 9 where the base year is taken as 100 and the other next years are represented in terms of percentage increase or decrease over the base year 1998. Table No: 3 Comparison of Trends of BSE market capitalization, sectoral market leader ONGC and Aban Lyod and Oil and Gas sectoral average (In Percent) Years BSE Market Cap. ONGC Oil and Gas Average Aban Lyod Chiles 1997-98 100 100 100 100 1998-99 -2.67 -57.49 -53.57 -9.34 1999-00 62.91 -51.26 -46.13 -52.04 2000-01 11.64 -52.37 -47.23 -11.15 2001-02 9.26 -1.78 -9.87 59.43 2002-03 2.12 27.85 3.33 241.77 2003-04 114.38 201.99 164.71 1282.66 2004-05 203.11 217.19 152.49 4993.49 2005-06 439.36 370.54 249.34 14593.23 2006-07 532.68 373.30 214.22 26884.76 2007-08 845.30 428.93 275.31 41276.00 Source: Annexure 3 Figure No: 3 From the Table no. 3 and Figure3 where CPSE Oil and Gas Sectoral details are depicted. It is observed that in the oil sector, the total has increased to 275 percent over the study period. ONGC has grown by 428 percent compared to the base year. It is also observed that Aban Lyod, the private sector exploration company being compared with ONGC, registered a growth rate of 41276 percent compared to the base year. Table No: 4 Comparison of Trends of BSE market capitalization, Sectoral market leader SAIL and TISCO and Minerals and Metals Sectoral average (In Percent) Years BSE Market Cap. SAIL Minerals and Metals Average TISCO 1997-98 100 100 100 100 1998-99 -2.67 -41.00 -34.40 -30.56 1999-00 62.91 -21.00 -22.66 -22.39 2000-01 11.64 -44.00 -31.68 -18.08 2001-02 9.26 -51.00 -18.01 -34.61 2002-03 2.12 -12.00 -5.28 -10.44 2003-04 114.38 223.00 183.38 157.63 2004-05 203.11 529.50 422.70 303.98 2005-06 439.36 733.00 689.88 440.52 2006-07 532.68 1041.00 761.54 375.16 2007-08 845.30 1747.50 2277.09 821.99 Source: Annexure 3 Figure No: 4 From the Table 4 and Figure 4 where CPSE Minerals Metals are depicted have shown an enormous increase. The year 1997-98 is taken as 100 which is the base year and it has increased to 2278 percent at the end of the study period 2007-08. SAIL has shown an increase of 1747 percent. When SAIL is compared with TISCO, which has grown by 822 percent, SAILà ¢Ã¢â€š ¬Ã¢â€ž ¢s performance is better in market capitalization over the five years period. Table No: 5 Comparison of Trends of BSE market capitalization, sectoral market leader NTPC and Reliance Energy Limited and Power sector average (In Percent) Years BSE Market Cap. NTPC Power Sector Average REL 1997-98 100 100 100 1998-99 -2.67 -56.09 -30.82 1999-00 62.91 -74.78 13.46 2000-01 11.64 -65.09 -10.38 2001-02 9.26 -19.01 5.77 2002-03 2.12 6.97 2.77 2003-04 114.38 122.67 365.27 2004-05 203.11 100.00 889.94 240.68 2005-06 439.36 56.36 1389.14 349.98 2006-07 532.68 74.74 1496.23 291.99 2007-08 845.30 129.87 1704.97 921.04 Source: Annexure 3 Figure No: 5 From the Table 5 and Figure 5 where the CPSE Power is given it is observed that the year 1997-98 is taken as 100 which is the base year and it has increased by 1704 percent at the end of the study period 2007-08. NTPC got quoted in the year 2005 therefore year 2005 is taken as base year. NTPC has shown an increase of 1747 percent. Reliance Energy is compared with NTPC, which has grown by 921percent Table No: 6 Comparison of Trends of BSE market capitalization, sectoral market leader BHEL and Siemens and Engineering sectoral average (In Percent) Years BSE Market Cap. BHEL CPSE Engineering Sector average Siemens Mar-98 100 100 100 100 Mar-99 -2.67 -34.03 -29.96 16.41 Mar-00 62.91 -65.28 -53.57 51.51 Mar-01 11.64 -60.56 -57.63 33.05 Mar-02 9.26 -53.10 -39.52 28.85 Mar-03 2.12 -37.94 -23.59 42.66 Mar-04 114.38 67.92 75.68 395.46 Mar-05 203.11 113.17 131.02 758.43 Mar-06 439.36 524.15 553.19 2820.83 Mar-07 532.68 527.99 523.01 2702.90 Mar-08 845.30 1042.53 982.55 3072.84 Source: Annexure 3 Figure No: 6 The details of engineering sector are shown in Table 6 and Figure 6 CPSE. The year 1997-98 is taken as 100 which is a base year then it increase to 982 percent at the end of the study period 2007-08. BHEL has shown an increase of 1042 percent. Tata Telecom is compared with BHEL, which has grown by 3072 percent. Table No: 7 Comparison of Trends of BSE market capitalization, sectoral market leader MTNL and Tata Telecom and CPSE Telecom sectoral average (In Percent) Years BSE Market Cap. MTNL CPSE Telecom Average Tata Tele. 1997-98 100 100 100 100 1998-99 -2.67 -32.80 -32.80 68.49 1999-00 62.91 -10.58 -10.58 361.18 2000-01 11.64 -49.66 -49.66 71.33 2001-02 9.26 -43.89 -43.89 384.75 2002-03 2.12 -63.45 -63.45 173.24 2003-04 114.38 -51.22 -51.22 488.16 2004-05 203.11 -56.32 -56.32 1028.95 2005-06 439.36 -30.06 -30.06 1207.40 2006-07 532.68 -44.18 -44.18 688.75 2007-08 845.30 -63.26 -63.26 372.40 Source: Annexure 3 Figure No: 7 From the Table 7 and Figure 7 CPSE where the details of CPSE Telecom sector are depicted it is observed that 1997-98 is taken as 100 and it has shown a increase of 1704 at the end of the study period 2007-08. NTPC got quoted in the year 2005 therefore year 2005 is taken as base year. NTPC has shown an increase of 1747 percent. Reliance Energy is compared with NTPC, which has grown by 921percent. Table No: 8 Comparison of Trends of BSE market capitalization, sectoral market leader BIBCL and Tata Chemicals Limited and CPSE Fertilizers and Chemicals sectoral average (In Percent) Years BSE Market Cap. BIBCL Fert.,Chem. Phar.Average TCL 1997-98 100 100 100 100 1998-99 -2.67 160.37 1.51 -51.94 1999-00 62.91 647.00 -23.14 -64.86 2000-01 11.64 356.22 -32.24 -74.53 2001-02 9.26 332.72 -5.15 -70.78 2002-03 2.12 438.25 -17.02 -59.10 2003-04 114.38 2017.05 39.21 -14.86 2004-05 203.11 5242.86 28.27 20.79 2005-06 439.36 2775.58 40.93 110.30 2006-07 532.68 2116.59 14.84 64.95 2007-08 845.30 5182.95 60.57 143.47 Source: Annexure 3 Figure No: 8 From the Table 8 and Figure 8 where details of CPSE Fertilizers are depicted, it is observed that the year 1997-98 is taken as 100. From the base year the sectoral average has decreased to 60 percent i.e. at the end of the study period 2007-08. BIBCL has shown an increase of 5182 percent compared to the base year. Tata Chemicals is compared to BIBCL which has shown a growth of 143 percent compared to the base year. Table No: 9 Comparison of Trends of BSE market capitalization, sectoral market leader BEML and G.E. Shipping and CPSE Logistics Sectoral average (In Percent) Years BSE Market Cap. BEML CPSE Logistics Sectoral Average GE.SHIPPING 1997-98 100 100 100 100 1998-99 -2.67 -62.37 -54.01 -44.64 1999-00 62.91 -66.10 -59.34 -60.83 2000-01 11.64 -67.76 -54.50 -38.72 2001-02 9.26 -25.97 -5.16 -44.68 2002-03 2.12 -10.88 -18.00 -35.74 2003-04 114.38 170.13 125.65 113.85 2004-05 203.11 468.06 167.01 159.18 2005-06 439.36 2239.31 368.12 340.20 2006-07 532.68 1612.23 396.32 173.38 2007-08 845.30 1673.48 399.16 406.00 Source: Annexure 3 Figure No: 9 Table 9 and Figure 9 represent the CPSE Logistics details. From the details it is observed that the sector has grown by 399 percent compared to the base year 1998 which is taken as 100. BEML is the market leader which has shown a growth of 1673 percent compared to the base year 1998. G. E. Shipping which is a private company which is compared to the BEML has shown a growth of 406 percent compared to the base year. Study on the Contribution of Public Sector Financial Companies to the Bombay Stock Exchange Market Capitalization for the period of 1993-94 to 2007-08 Section à ¢Ã¢â€š ¬Ã…“Bà ¢Ã¢â€š ¬? covers the study of the contribution of Public Sector Financial Institutions (PSFIs) to the market capitalization of the Bombay Stock Exchange (BSE) for the period of 1993-94 to 2007-08. For the purpose of the study 17 PSFIs were taken which were regularly quoted in the BSE for the study period. The study also considered the contribution made by the private bank à ¢Ã¢â€š ¬Ã…“ICICIà ¢Ã¢â€š ¬? as a comparison to the performance of the PSFIs. For the study purpose PSFIs include Commercial Banks, Development Banks, Merchant Banking Companies, Financial Companies, and Housing Finance Companies as they are held by certain Public Sector Banks (PSBs) Table: 10 Contribution of Public Sector Financial Institutions to Bombay Stock Exchange Market Capitalization In Rs. Crore PSFIs/Years 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 2001-02 BSE Mart. Cap. 368071 425481 526476 463912 560325 545361 912842 625553 612224 Bank Of Baroda 2664.00 3093.20 1346.80 1342.36 1786.36 1419.32 Bank Of India 2709.36 1278.00 1000.04 722.07 1603.89 Can Fin Homes Ltd. 112.75 76.88 43.05 31.26 30.34 29.93 35.36 41.00 51.83 Canara Bank G I C Housing Finance Ltd. 86.42 54.01 43.66 41.41 35.11 19.00 16.20 18.46 I D B I Bank Ltd. 7336.72 5687.64 5758.31 1999.09 3163.54 1746.32 1067.38 Ind Bank Housing Ltd. 22.50 20.00 13.00 5.75 4.00 4.50 3.50 3.05 2.00 Indbank Mer.Bank. Ser. Ltd. 172.05 68.82 19.98 18.65 7.77 15.99 5.77 5.33 Indian Bank L I C Housing Finance Ltd. 502.89 364.03 405.31 337.76 285.60 245.81 225.55 540.79 P N B Gilts Ltd. 232.89 241.66 Punjab National Bank S B I Home Finance Ltd. 101.25 86.25 51.00 38.25 27.00 16.50 13.80 9.75 10.50 State Bank Of Bikaner Jaipur 293.38 222.50 117.50 137.25 136.50 168.22 State Bank Of India 8122.72 6019.36 8131.27 14354.80 14841.63 11231.22 10583.87 10539.14 11568.05 State Bank Of Mysore    86.40 79.56 75.62 101.16 State Bank Of Travancore 250.50 112.50 110.68 129.00 152.50 Total Contribution to BSE by PSFIs 8359.22 6963.85 16061.90 23544.03 27334.66 16550.92 16750.76 15669.22 16951.09 Total PSFIs Mart. Cap./BSE 2.27 1.64 3.05 5.08 4.88 3.03 1.84 2.50 2.77 ICICI Bank 755.70 452.10 5117.29 3255.38 2732.45 ICICI Bank /BSE Mark. Cap. 0.13 0.08 0.56 0.52 0.45 Contà ¢Ã¢â€š ¬Ã‚ ¦.Table: 10 Contribution of Public Sector Financial Institutions to Bombay Stock Exchange Market Capitalization In Rs. Crore PSFIs/Years 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 Average BSE Mart. Cap. 572197 1201207 1698428 3022189 3545041 5296758 1358404 Bank Of Baroda 2542.64 7117.55 6394.65 8389.03 7846.29 10341.52 4523.64 Bank Of India 1851.72 2870.78 5044.58 6433.68 8178.60 13281.67 4088.58 Can Fin Homes Ltd. 58.90 83.58 90.54 101.20 122.71 138.69 69.87 Canara Bank 2919.20 5928.60 8216.40 10942.90 7982.70 9233.20 7537.17 G I C Housing Finance Ltd. 20.17 53.83 98.14 221.33 221.60 323.91 89.52 I D B I Bank Ltd. 1080.43 3792.95 5951.00 5667.31 5613.03 6453.74 4255.19 Ind Bank Housing Ltd. 3.00 3.81 7.31 10.59 14.74 17.85 9.04 Indbank Mer.Bank. Ser. Ltd. 7.10 10.92 26.45 36.57 73.67 90.75 39.99 Indian Bank 3876.53 7000.95 5438.74 L I C Housing Finance Ltd. 493.06 1368.27 2003.14 1610.32 1169.52 2375.14 851.94 P N B Gilts Ltd. 288.24 345.62 254.49 263.94 245.04 372.62 280.56 Punjab National Bank 2702.11 8858.45 12400.85 14857.05 14871.24 16022.10 11618.63 S B I Home Finance Ltd. 10.42 20.76 31.57 23.02 23.02 23.02 32.41 State Bank Of Bikaner Jaipur 260.00 854.72 1180.00 2082.17 1674.00 2499.00 802.10 State Bank Of India 14204.81 31877.92 34575.20 50948.36 52256.22 100962.64 25347.81 State Bank Of Mysore 154.44 643.68 736.02 2277.63 1851.57 2700.00 870.61 State Bank Of Travancore 207.50 775.95 1012.57 2075.97 1504.18 2387.97 792.67 Total Contribution to BSE by PSFIs 26803.74 64607.39 78022.91 105941.07 107524.66 174224.77 47020.68 Total PSFIs Mart. Cap./BSE 4.68 5.38 4.59 3.51 3.03 3.29 3.46 ICICI Bank 8211.60 18239.04 28952.94 52432.87 76702.20 85688.06 25685.42 ICICI Bank /BSE Mark. Cap. 1.44 1.52 1.70 1.73 2.16 1.62 0.79 From the Table 10 where the PSFIs market capitalization for the period of 1993-94 to 2007-08 is given, it is observed that total PSFIs contribution has varied between 1.84 percent to 5.38 percent. In absolute figures it was between Rs.6963.85 crore to Rs.174224.77 crore. Further from the table it is observed that in 1993-94 the contribution was at 2.27 percent reduced to 1.64 percent in 1994-96. The period of 1995-96 was an increase up to 3.05 percent. On an average the PSFIs have contributed 3.46 percent to the BSEs total market capitalization. Table: 11 Comparison of State Bank of India (SBI), Total Contribution by PFSIs and ICICI Bank to BSE market capitalization. In. Rs. Crore Time Period BSE Mart. Cap. State Bank of India Total Contribution to BSE by PSFIs ICICI Bank 1993-94 368071 8122.72 8359.22 1994-95 425481 6019.36 6963.85 1995-96 526476 8131.27 16061.90 1996-97 463912 14354.80 23544.03 1997-98 560325 14841.63 27334.66 755.70 1998-99 545361 11231.22 16550.92 452.10 1999-00 912842 10583.87 16750.76 5117.29 2000-01 625553 10539.14 15669.22 3255.38 2001-02 612224 11568.05 16951.09 2732.45 2002-03 572197 14204.81 26803.74 8211.60 2003-04 1201207 31877.92 64607.39 18239.04 2004-05 1698428 34575.20 78022.91 28952.94 2005-06 3022189 50948.36 105941.07 52432.87 2006-07 3545041 52256.22 107524.66 76702.20 2007-08 5296758 100962.64 174224.77 85688.06 Average 1358404.33 25347.81 47020.68 25685.42 Figure: 10 Comparison of trends of State Bank of India, Public Sector Financial Institutions and ICICI Bank to Market Capitalization of Bombay Stock Exchange From the Table :11 and Figure :10 where the comparison of trend movement of PSFIs , SBI and ICICI are depicted it is observed that PSFIs contribution has varied between Rs.6963.85 crore to Rs.174224.77 crore for the period of 1993-94 to 2007-08. SBI has contributed Rs.6019.36 crore to Rs.100962.64 crore. The ICICI Bank which is a private player has contributed Rs.452.10 crore in 1998-99 and increased to Rs.85688.06 crore in 2007-08. The trend of PSFIs shows that it is aligned with that SBI and ICICI Bank. Further it is observed that the contribution of SBI, ICICI are on increasing trend through out the study period. Section à ¢Ã¢â€š ¬Ã…“Cà ¢Ã¢â€š ¬? Study on the Contribution of Public Sector Financial Companies and Central Public Sector Enterprises to the Bombay Stock Exchange Market Capitalization for the period of 1993-94 to 2007-08 Table: 12 Comparison of contribution by PSFIs, CPSEs and Total contribution of Public sector to BSE market capitalization Time Period BSE Market Cap. CPSEs Contribution PSFIs Contribution Total Contribution by CPSEs and PSFIs Total Contribution by CPSEs and PSFI CPSEs Contribution PSFIs Contribution In Rs. Crore In Percent 1993-94 368071.00 67734.21 8359.22 76093.43 20.67 18.40 2.27 1994-95 425481.00 56410.04 6963.85 63373.89 14.89 13.26 1.64 1995-96 526476.00 119718.12 8131.27 127849.39 24.28 22.74 1.54 1996-97 463912.00 124083.31 23544.03 147627.34 31.82 26.75 5.08 1997-98 560325.00 141761.09 27334.66 169095.75 30.18 25.30 4.88 1998-99 545361.00 76482.81 16550.92 93033.73 17.06 14.02 3.03 1999-00 912842.00 83902.99 16750.76 100653.75 11.03 9.19 1.84 2000-01 625553.00 75474.26 15669.22 91143.48 14.57 12.07 2.50 2001-02 612224.00 118846.84 16951.09 135797.93 22.18 19.41 2.77 2002-03 572197.00 130842.54 26803.74 157646.28 27.55 22.87 4.68 2003-04 1201207.00 324448.02 64607.39 389055.41 32.39 27.01 5.38 2004-05 1698428.00 418992.96 78022.91 497015.87 29.26 24.67 4.59 2005-06 3022189.00 635864.96 105941.07 741806.03 24.55 21.04 3.51 2006-07 3545041.00 627689.89 107524.66 735214.55 20.74 17.71 3.03 2007-08 5296758.00 1011593.74 174224.77 1185818.51 22.39 19.10 3.29 Average 1358404.33 267589.72 47020.68 314610.40 23.00 19.57 3.34 Figure 11: Comparison of Trend movements of PSFIs, CPSEs and Public Sector From the Table 12 and Figure 11 where the actual contribution to BSE market capitalization by the Total Public Sector, PSFIs and CPSEs in terms of actual i.e., Rs. Crores and in percentage are depicted. It is observed that CPSEs have contributed on an average Rs.267590 crore and varied between Rs.56410.04 crore to Rs.1011594.00 crore. PSFIs contributed on an average Rs.47020.70 crore and varied between Rs.6963.85 crore to 174224.80 crore. Further the table reveals that public sector has contributed 23 percent on average and CPSEs have contributed 19.57 percent and PSFIs 3.44 percent for the BSE market capitalization during the study period. Figure 12 Linear Regression Plot between CPSE PSFIs and BSE Market Capitalization BSE = 11805.422+4.287* CPSE PSFIs R 2 = 0.96 Table 13 Regression Results for CPSE PSFIs Market Capitalization and BSE Market Capitalization: Regression Standard t-Value Significance Variables Co-efficient (ÃŽÂ ²) Error Level (P-Value) r =0.983 r2 = 0.96 (Constant) 11805.422 101357.100 0.116 0.010 CPSE PSFIs MAR. CAP. 4.28 .225 19.050 0.000 BSE Market Capitalization = Dependent Variable The Figure 12 and Table 13 represent the Linear Regression Plot and Regression values between CPSE PSFIs market capitalization and BSE market capitalization. From the R2 value of 0.96 it is understood that the relation is very strong and positive and it indicates that there is a good fit between the market capitalization of BSE and PSU. The P value is 0.001, which is less than 0.05. This signifies that contribution of CPSE PSFIs market capitalization to overall BSE market capitalization is significant. Thus CPSE PSFIs market capitalization is a good indicator of total market capitalization incorporated in BSE SENSEX. Table 14 Squared Euclidean Distance: Proximity Matrix Absolute Square Euclidean Distance CPSE PSFIs BSE CPSE PSFIs 0.000 0.699 BSE 0.699 0.000 This is a Dissimilarity Matrix Further, in Table 14, Absolute Squared Euclidean Distance is computed and proximity matrix is obtained. The Table indicates that the dissimilarity between CPSE PSFIs and BSE market capitalization is 0.69. This indicates that there are dissimilarities between BSE market capitalization and PSU market capitalization to an extent of 69 percent. Table 15 Correlation Matrix for BSE Market Capitalization and CPSE PSFIs Market Capitalization Further, in Table 15 correlation matrix is computed between BSE market capitalization and PSU market capitalization, which explains that there, exists a high correlation (0.983) between the two. Conclusion: The paper attempts to evaluate the contribution in terms of market capitalization of Central Public Sector Enterprises and Public Financial Institutions in the stock market with reference to the companies quoted at the Bombay Stock Exchange. Market capitalization is the total value of a companys free float as determined by its share price in the stock market; it is calculated as the number of free float of ordinary shares multiplied by the previous days closing share price. . At the end of the study period, 2007-08, the CPSEs contribution to total BSE market capitalization is at the rate of 20.97 percent. The study observes that the Oil Gas sector, on an average, contributed 10.85 percent of the 19.74 percent by the entire CPSEs to total BSE market capitalization. This shows that the Oil Gas sector has contributed 55 percent to the total CPSEs market capital, with the remaining eight sectors contributing only 45 percent. . On an average the PSFIs have contributed 3.46 percent to th e BSEs total market capitalization. Further the study finds that overall CPSEs and PSFIs have contributed 23 percent on average and CPSEs have contributed 19.57 percent and PSFIs 3.44 percent for the BSE market capitalization during the study period. From the regression it is observed that R2 value is 0.96 and it is understood that the relation is very strong and positive and it indicates that there is a good fit between the market capitalization of BSE and PSU. Correlation matrix is computed between BSE market capitalization and PSU market capitalization, which explains that there, exists a high correlation (0.983) between the two. To conclude it can be said that the contribution of CPSEs and PFSIs has been on an increasing trend and this would provide stability to the stock market in the long run as there involves control of the government in the operations of these CPSEs and PFSIs.

Analysis Of Those Winter Sundays By Baldwin Sonny s...

Sadighim,Candice English 2 Cramer 3 November 2015 Conflict and reconciliation in familial relationships in Literature Hayden’s ‘Those Winter Sundays’, Baldwin’ Sonny s blues and Grimm brothers’ Cinderella describes certain sensitive situations most families sometimes find themselves in when disagreeing on diverse issues that can be resolved when parties are determined to. In these pieces of literature, family conflicts are portrayed as simple disagreements that in certain cases result in family break-ups and unnecessary hostilities. These pieces of work are very explicit and affirm that in any situation where there are facts, inclinations, and distress, there is a relatively high possibility for conflicts to occur. However, contrary to the popular opinion, these fundamental causes of family conflicts are human-made and can be resolved when proper channels are followed in a collaborative manner as portrayed in these three literatures. Indeed, virtually all families are at one period of time obliged to pass through diverse everyday conflicts, but with determination a nd acceptance of mistakes, appropriate processes of reconciliation can be instituted and the family ultimately return back to normalcy. This piece of work by Grimm brothers describes a familial conflict pitting a step-mother and step-daughter who is obliged to unite after the sudden death of her birth mother. Grimm brothers rues the step-mother’s poor communication skills and lack of some important

Fool Chapter 8 Free Essays

string(248) " memories of burning urination and putrid discharge, but what romance worth the memory is devoid of the bittersweet\? When I first met her, Goneril was but seventeen, and although betrothed to Albany from the age of twelve, she had never seen him\." EIGHT A WIND FROM FUCKING FRANCE Hunter was right, of course, he wasn’t able to feed Lear’s train. We imposed on villages along the way for fare and quarter, but north of Leeds the villages had suffered bad harvests and they could not bear our appetites without starving themselves. I tried to foster good cheer among the knights, while keeping distance from Lear – I had not forgiven the old man for disowning my Cordelia and sending away Drool. We will write a custom essay sample on Fool Chapter 8 or any similar topic only for you Order Now Secretly I relished the soldiers’ complaints about their lack of comfort, and made no real effort to dampen their rising resentment for the old king. On the fifteenth day of our march, outside of Lint-upon-Tweed, they ate my horse. â€Å"Rose, Rose, Rose – would a horse by any other name taste so sweet?† the knights chanted. They thought themselves clever, slinging such jests while spraying roasted bits of my mount from their greasy lips. The dull always seek to be clever at the fool’s expense, to somehow repay him for his cutting wit, but never are they clever, and often are they cruel. Which is why I may never own things, never care for anyone, nor show desire for anything, lest some ruffian, thinking he is funny, take it away. I have secret desires, wants, and dreams, though. Jones is a fine foil, but I should like someday to own a monkey. I would dress him in a tiny jester’s suit, of red silk, I think. I would call him Jeff, and he would have his own scepter, that would be called Tiny Jeff. Yes, I should very much like a monkey. He would be my friend – and it would be forbidden to murder, banish, or eat him. Foolish dreams? We were met at the gate of Castle Albany by Goneril’s steward, adviser, and chief toady, that most pernicious twat, Oswald. I’d had dealings with the rodent-faced muck-sucker when he was but a footman at the White Tower, when Goneril was still princess at court, and I, a humble jongleur, was found wandering naked amid her royal orbs. But that tale is best left for another time, the scoundrel at the gate impedes our progress. Spidery in appearance as well as disposition, Oswald lurks even when in the open, lurking being his natural state of locomotion. A fine black fuzz he wears for a beard, the same is on his head, when his blue tartan tam is humbled at his heart, which it was not that day. He neither removed his hat nor bowed as Lear approached. The old king was not pleased. He stopped the train an arrow-shot from the castle and waved me forward. â€Å"Pocket, go see what he wants,† said Lear. â€Å"And ask why there is no fanfare for my arrival.† â€Å"But nuncle,[24]† said I. â€Å"Shouldn’t the captain of the guard be the one – â€Å" â€Å"Go on, fool! A point is to be made about respect. I send a fool to meet this rascal and put him in his place. Spare no manners, remind the dog that he is a dog.† â€Å"Aye, majesty.† I rolled my eyes at Captain Curan, who almost laughed, then stopped himself, seeing that the king’s anger was real. I pulled Jones from my satchel and sallied forth, my jaw set, as determined as the prow of a warship. â€Å"Hail, Castle Albany,† I called. â€Å"Hail, Albany. Hail, Goneril.† Oswald said nothing, did not so much as remove his hat. He looked past me to the king, even when I was standing an arm’s length from him. I said: â€Å"King of bloody Britain here, Oswald. I’d suggest you pay proper respect.† â€Å"I’ll not lower myself to speak with a fool.† â€Å"Primping little whoreson wanker, innit he?† said the puppet Jones. â€Å"Aye,† said I. Then I spotted a guard in the barbican, looking down on us. â€Å"Hail, Cap’n, seems someone’s emptied a privy on your drawbridge and the steaming pile blocks our way.† The guard laughed. Oswald fumed. â€Å"M’lady has instructed me to instruct you that her father’s knights are not welcome in the castle.† â€Å"That so? She’s actually talking to you, then?† â€Å"I’ll not have an exchange with an impudent fool.† â€Å"He’s not impudent,† said Jones. â€Å"With proper inspiration, the lad sports a woody as stout as a mooring pin. Ask your lady.† I nodded in agreement with the puppet, for he is most wise for having a brain of sawdust. â€Å"Impudent! Impudent! Not impotent!† Oswald frothing a bit now. â€Å"Oh, well, why didn’t you say so,† said Jones. â€Å"Yes, he’s that.† â€Å"To be sure,† said I. â€Å"Aye,† said Jones. â€Å"Aye,† said I. â€Å"The king’s rabble shall not be permitted in the castle.† â€Å"Aye. That so, Oswald?† I reached up and patted his cheek. â€Å"You should have ordered trumpets and rose petals scattered on our path.† I turned and waved the advance to the train, Curan spurred his horse and the column galloped forward. â€Å"Now get off the bridge or be trampled, you rat-faced little twat.† I strode past Oswald into the castle, pumping Jones in the air as if I was leading cadence for war drummers. I think I should have been a diplomat. As Lear rode by he clouted Oswald on the head with his sheathed sword, knocking the unctuous steward into the moat. I felt my anger for the old man slip a notch. Kent, his disguise now completed by nearly three weeks of hunger and living in the outdoors, fell in behind the train as I had instructed. He looked lean and leathery now, more like an older version of Hunter than the old, overfed knight he had been at the White Tower. I stood to the side of the gate as the column entered and nodded to him as he passed. â€Å"I’m hungry, Pocket. All I had to eat yesterday was an owl.† â€Å"Perfect fare for witch finding, methinks. You’re with me to Great Birnam Wood tonight, then?† â€Å"After supper.† â€Å"Aye. If Goneril doesn’t poison the lot of us.† Ah, Goneril, Goneril, Goneril – like a distant love chant is her name. Not that it doesn’t summon memories of burning urination and putrid discharge, but what romance worth the memory is devoid of the bittersweet? When I first met her, Goneril was but seventeen, and although betrothed to Albany from the age of twelve, she had never seen him. A curious, round-bottomed girl, she had spent her entire life in and around the White Tower, and she’d developed a colossal appetite for knowledge of the outside world, which somehow she thought she could sate by grilling a humble fool. It started on odd afternoons, when she would call me to her chambers, and with her ladies-in-waiting in attendance, ask me all manner of questions her tutors had refused to answer. â€Å"Lady,† said I, â€Å"I am but a fool. Shouldn’t you ask someone with position?† â€Å"Mother is dead and Father treats us like porcelain dolls. Everyone else is afraid to speak. You are my fool, it is your duty to speak truth to power.† â€Å"Impeccable logic, lady, but truth be told, I’m here as fool to the little princess.† I was new to the castle, and did not want to be held accountable for telling Goneril something that the king didn’t wish her to know. â€Å"Well, Cordelia is having her nap, so until she wakes you are my fool. I so decree it.† The ladies clapped at the royal decree. â€Å"Again, irrefutable logic,† said I to the thick but comely princess. â€Å"Proceed.† â€Å"Pocket, you have traveled the land, tell me, what is it like to be a peasant?† â€Å"Well, milady, I’ve never been a peasant, strictly speaking, but for the most part, I’m told it’s wake early, work hard, suffer hunger, catch the plague, and die. Then get up the next morning and do it all again.† â€Å"Every day?† â€Å"Well, if you’re a Christian – on Sunday you get up early, go to church, suffer hunger until you have a big meal of barley and swill, then catch the plague and die.† â€Å"Hunger? Is that why they seem so wretched and unhappy?† â€Å"That would be one of the reasons. But there’s much to be said for hard work, disease, run-of-the-mill suffering, and the odd witch burning or virgin sacrifice, depending on your faith.† â€Å"If they are hungry, why don’t they just eat something?† â€Å"That is an excellent idea, milady. Someone should suggest that.† â€Å"Oh, I shall make a most excellent duchess, I think. The people will praise me for my wisdom.† â€Å"Most certainly, milady,† said I. â€Å"Your father married his sister, then, did he, love?† â€Å"Heavens no, mother was a Belgian princess, why do you ask?† â€Å"Heraldry is my hobby, go on.† Once we were inside the main curtain wall[25] of Castle Albany, it was clear that we would go no farther. The main keep of the castle stood behind yet another curtain wall and had its own drawbridge, over a dry ditch rather than a moat. The bridge was lowering even as the king approached. Goneril walked out on the drawbridge unaccompanied, wearing a gown of green velvet, laced a bit too tightly. If the intent was to lessen the rise of her bosom it failed miserably, and brought gasps and guffaws from several of the knights until Curan raised his hand for silence. â€Å"Father, welcome to Albany,† said Goneril. â€Å"All hail good king and loving father.† She held out her arms and the anger drained from Lear’s face. He climbed down from his horse. I scampered to the king’s side and steadied him. Captain Curan signaled and the rest of the train dismounted. As I straightened Lear’s cape about his shoulders, I caught Goneril’s eye. â€Å"Missed you, pumpkin.† â€Å"Knave,† said she under her breath. â€Å"She was always the most fair of the three,† I said to Lear. â€Å"And certainly the most wise.† â€Å"My lord means to accidentally hang your fool, Father.† â€Å"Ah, well, if accident, there’s no fault but Fate,† said I with a grin – pert and nimble spirit of mirth that I am. â€Å"But call then for a spanking of Fate’s fickle bottom and hit it good, lady.† I winked and smacked the horse’s rump. Wit’s arrow hit and Goneril blushed. â€Å"I’ll see you hit, you wicked little dog.† â€Å"Enough of that,† said Lear. â€Å"Leave the boy alone. Come give your father a hug.† Jones barked enthusiastically and chanted, â€Å"A fool must hit it. A fool must hit it, hit it good.† The puppet knows a lady’s weakness. â€Å"Father,† said she, â€Å"I’m afraid we’ve accommodation only for you in the castle. Your knights and others will have to make do in the outer bailey.[26] We’ve quarters and food for them by the stables.† â€Å"But what about my fool?† â€Å"Your fool can sleep in the stable with the rest of the rabble.† â€Å"So be it.† Lear let his eldest lead him into the castle like a milk cow by the nose ring. â€Å"She truly loathes you, doesn’t she?† said Kent. He was busy wrapping himself around a pork shoulder the size of a toddler – his Welsh accent actually sounding more natural through the grease and gristle than when clear. â€Å"Not to worry, lad,† said Curan, who had joined us by our fire. â€Å"We’ll not let Albany hang you. Will we, lads!?† Soldiers all around us cheered, not sure what they were cheering for, beyond the fact that they were enjoying the first full meal with ale that they’d had since leaving the White Tower. A small village was housed inside the bailey and some of the knights were already wandering off in search of an alehouse and a whore. We were outside the castle, but at least we were out of the wind, and we could sleep in the stables, which the pages and squires had mucked out on our arrival. â€Å"But if we’re not welcome in the great hall, then they are not welcome to the talents of the king’s fool,† said Curan. â€Å"Sing us a song, Pocket.† A cheer went up around the camp: â€Å"Sing! Sing! Sing!† Kent raised an eyebrow. â€Å"Go ahead, lad, your witches will wait.† I am what I am. I drained my flagon of ale, set it by the fire, then whistled loudly, jumped up, did three somersaults and laid out into a back-flip, wherefrom I landed with Jones pointed at the moon, and said, â€Å"A ballad, then!?† â€Å"Aye!† came the cheer. And ever so sweetly, I crooned the lilting love song â€Å"Shall I Shag My Lady Upon the Shire?† I followed that with a bit of a narrative song by way of a troubadour tradition: â€Å"The Hanging of Willie Wagging William.† Well, everyone likes a story after supper, and by the one-eyed balls of the Cyclops, that one got them clapping, so I slowed it down a bit with the solemn ballad, â€Å"Dragon Spooge Befouled My Bonny Bonny Lass.† Bloody inconsiderate to leave a train of fighting men fighting back tears, so I danced my way around the camp while singing the shanty â€Å"Alehouse Lilly (She’ll Bonk You Silly).† I was about to say good night and head out when Curan called for silence and a road-worn herald wearing a great golden fleur-delis on his chest entered the camp. He unrolled his scroll and read. â€Å"Hear ye, hear ye. Let it be known that King Philip the Twenty-seventh of France is dead. God rest his soul. Long live France. Long live the king!† No one â€Å"long lived the king† back at him and he seemed disappointed. Although one knight did murmur â€Å"So?† and another, â€Å"Good bloody riddance.† â€Å"Well, you British pig dogs, Prince Jeff is now king,† said the herald. We all looked at each other and shrugged. â€Å"And Princess Cordelia of Britain is now Queen of France,† the herald added, rather huffy now. â€Å"Oh,† said many, realizing at last at least a glancing relevance. â€Å"Jeff?† said I. â€Å"The bloody frog prince is called Jeff?† I strode to the herald and snatched the scroll out of his hand. He tried to take it back and I clouted him with Jones. â€Å"Calm, lad,† said Kent, taking the scroll from me and handing it back to the herald. â€Å"Merci,† said he to the messenger. â€Å"He took my bloody princess and my monkey’s name!† said I, taking another swing with Jones, which missed its mark as Kent was dragging me away. â€Å"You should be pleased,† said Kent. â€Å"Your lady is the Queen of France.† â€Å"And don’t think she’s not going to rub my nose in that when I see her.† â€Å"Come, lad, let’s go find your witches. We’ll want to be back by morning in time for Albany to accidentally hang you.† â€Å"Oh, she’d like that, wouldn’t she?† How to cite Fool Chapter 8, Essay examples

Happiness Depends on Us free essay sample

The author of Stumbling on Happiness, Daniel Gilbert, attempts to define the word. With several factors being put into play such as the measuring of happiness, different memories and deferent feelings can vary Gilberts definition from mine. Writing a book with 263 pages based on the topic of happiness, Gilbert shows us his own definition of the word relatively early, Happiness, then, Is the you-know- what-I-mean feeling (35). Do I even have to explain his quote?Because according to Gilbert we already know what he means. On the serious note, Gilbert is trying to make a point that it is extremely difficult to describe this word. He goes on to say that f we were to try and describe this word, we would most likely ditch the idea of using a definition and try and describe it by pointing out examples of what makes us happy. Well then if you go down that route, you are already looking at millions of different possibilities of what makes people happy. We will write a custom essay sample on Happiness Depends on Us or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page You can see why It Is so difficult for Gilbert because everyone In this world Is made completely different from one another. Their own definition of happiness or feeling of happiness can range from person to person. The struggle begins when everyone has their own definition of happiness. The exult of them having their own definition of this word occurs since everyone has their own unique life experiences. There is a reason behind everyones definition and the thinking that was put Into It. The first thing that Is put Into their thinking Is the memories that they have. When we want to remember our experience, our brains quickly reweave the tapestry by fabricating-?not by actually retrieving-?the bulk of the information that we experience as a memory (87) Our brains are so intelligent that we remember and associate certain things in either a positive or a negative way. When we recall a memory it affects people in several ways; different memories equal different thinking.In addition to having different memories, people can have different feelings as well. Literally two people can experience the same exact event and can walk away thinking or feeling two;o completely different things. It all depends on how they want to react to something or how they feel about it. Gilbert makes a great point and says, Well, it depends on what we mean by painful (224). Someone can be physically or mentally stronger than the person next to them and can experience a aromatic event and may not have the same effect on them as the other. This all plays a role In how someone will respond to a similar situation or Just affect their When asked what made me happy, I actually had to think hard about what I could say. There are so many things that bring me pleasure and Joy that it is difficult to pinpoint on what makes me happy. It ranges from different people, things, ideas or even life situations. After a while I decided that it wasnt any of that in which makes me happy. It actually relates back to the official dictionary definition of the word, peppiness, the quality or state of being happy.Being happy makes me happy. Now before you go and say that my statement is invalid and does not make any sense, Just think about it. My state of mind is happy when I am happy. I like to think I am a generally happy person and when I am happy, I am happy. Now of course there are things that make me happy, but what actually makes me happy is when I know I am happy. Surrounding myself around similarly happy people, doing things I love like sports and hanging out with people I love like friends and family are things that help e get to the happy state.After reading Gilberts, Stumbling on Happiness, I am convinced that there is no way to physically define the word happiness with a straight forward definition. The word will be defined in many different ways all depending on who is defining it. With life throwing survivable at us every single day we create different memories from our peers. With those memories we create different responses that develop into different feelings. We then measure what happiness really is and ultimately in the end, happiness depends on ourselves.

Are humans becoming too dependent on technology free essay sample

What happen if any of your devices crashed? Nowadays people becoming too dependent of technologic they cannot imagine their live without technology. We losing the ability or willingness to thing and memorize, we cannot work or do something if we have not internet or study, calculate or solve problem without computer or other devices. With the rapid growth of technology, there has been a debate on how we are using technology in our life. Many people think that we are now abusing modern devices to support for our own life; while others reckon that using technology brings us just good things and make our life easier. According to what I have observed and experienced, I believe that people, nowadays, have been overly dependent on technology What about if you lost any of your devices? If just thinking about these scenarios give you anxiety, you’re not alone. Most of us rely so much on technology these days that losing it, even for a day, would be extremely inconvenient, and for some, life-altering. We will write a custom essay sample on Are humans becoming too dependent on technology or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As a society, we have become much more dependent on the technology at our disposal. For instance, many people no longer memorize phone numbers because their cell phones have a wonderful contact list which makes that memorization unnecessary. If these people didn’t have their cell phones in an emergency, they would not be able to contact the people they would need. It’s very possible that you have your husband’s number memorized. It’s also very possible that he’s listed by name on your phone and you haven’t the faintest idea what his number is. If you lost your cellphone and all of your contacts, it’s very possible you’d have no idea how to get in contact with anyone, let alone someone important to you. And you can’t even look it up since cellphone numbers are unlisted. If the internet is down we cannot work because many job in our days depend of internet. I don’t know about you, but I’ve been at jobs where if the Internet isn’t working, then work comes to a standstill. How can you work if you can’t send an email, right? Seriously, I was sent home one day at my last job because the Internet was down. Sure, I stopped to chat with a co-worker on the way out. And during that conversation, we came up with a way to effectively tackle a work-related problem. But otherwise, work was over for the day. The dependence on the technology is too much that people are losing their ability to think and even read as people have all the  information they need on the internet. Their ability to think has been lost due to the use of computers as they always give us all the information we need and also our spelling mistakes can be corrected by the computers. We also don’t produce our own foods as productions of packaged foods have been mechanized People are slowly losing those abilities and letting machines or computers do the work for them. People are no longer required to think. If posed with a difficult or even simple problem people will simply Google it on an iPhone and the answer is found within seconds. Students are also becoming too dependent on calculators. Instead of using a graphing calculator to solve complex mathematical formulas, students turn to calculators for even simple calculations. Though calculators are important in an evolving world, it is still important for teachers to teach students how to do mental math and reasoning (Metz). While it is true that technology can largely dominate our lives and it is not uncommon to walk into the average family’s house and see each sitting in front of a blaring television but on separate electronic devices it cannot be said that we would not survive without it. The technology we supposedly depend on today is all relatively new. Technology is definitely useful, and without it the world would probably not be what it is today. From computers the size of a fingernail to medical advancements, cancer deaths for example have decreased by 20% in the last 20 years due to developments in technology. Technology in general progressed at an accelerated rate in the twentieth century, an era that began with the invention of airplanes and cars and ended with space shuttles, mobile phones and wireless internet. Saying that we are overly dependent on technology is too vague a statement. It does not specify whether it refers to humans as a whole or specifically to western culture. Regardless of this, a mere 4-5% of the world’s population owns a computer. Taken out of context this figure seems pathetically small and it is important to note that only 30% of the world’s population are wealthy enough to have a bank account however it still means that about 95% of people get by just fine with no kind of computers whatsoever. Many of us regularly express a wish to escape from all of the technology we encounter on a daily basis, wealthy celebrities like Johnny Deep going so far as to buy an island with no phones or internet. Surely this is not the mark of a race that depends completely on this same technology for life? It is true that we depend on it, how many of us are ever without some sort of electronic device in our pocket, the fact that I’ve typed this on a computer is testament to that fact, but I don’t think we will ever reach a point where we cannot survive without it. Homo sapiens have been around with in or around 250,000 years and we’ve had the internet since the late twentieth century. If there was a massive solar flare in the morning and you lost everything in your life that ran on a microchip how you would survive? Pretty easily I expect. People use technology for performing their household chores as well as for solving even the simplest mathematics. The traditional way of writing and sending letters is now being replaced with communication by the mobiles, emails, SMS, etc. Not too long ago, our previous generations got the latest news of their time through newspapers. Nowadays, we watch television or browse the Internet for the latest news. We also cannot travel on foot for only 50 meters. We need to travel on cars because technology makes us too lazy to walk for even a short distance. With every new invention, people become more dependent on technology to think for them. It would be impossible to view the world without the ubiquitous cell phone, laptop, and mp3 player. And, it would be impossible completely do away with these gadgets. The problem is people are letting their gadgets take over their lives and they are not giving an effort anymore. Maybe John Lennons lyrics should read strive for fewer possessions, its easier than you think†. How we use technology that is the key Technology was created to improve our lives. Today everything is possible just because of technology. Today we are modern people and we know more about technology. The point is that we, as a society, must be able to operate on a basic level without technology. Yes, technology makes our lives easier and quicker, but this needs to be taken with a grain of salt. We should live our lives with the aid of technology because we want to, not because we have to.

COLLEGE PAPER WRITING SERVICES from Professional Writers

COLLEGE PAPER WRITING SERVICES from Professional Writers A good essay helps you to develop your great skills that you will be thankful for every single day. Every achievement, every step that you make today does matter. Good essay writing skills can be broken down to simple writing skills. When you require professional college paper writing services assistance, we can deliver it to you as soon as you need it. And we took our time to list these important skills that are being developed through the essay and research paper writing. Here is the list of the most important writing skills.   Essay information analysis Data collection and data examination collected by you or previous researchers Doing thorough research Complete understanding of the topic or chosen theme Analytical thinking; Creative thinking; Critical thinking Clear expression both of views and ideas Correct grammar, punctuation, spelling and style Getting one clear message across your paper Personalized writing skills Good essay organization and structuring

Marketing Mix of Domino's pizza Case Study Example | Topics and Well Written Essays - 1500 words

Marketing Mix of Domino's pizza - Case Study Example This research will begin with the statement that in the United Kingdom, the number of the fast food and home delivery restaurants including McDonalds, KFC AND Domino’s Pizza continues to increase rapidly as is the trend for the past five years. The restaurant's explosion in the high-street outlets represents the lucrative feature of the industry, constituting the resulting large amount of competition in the market. The increased competition is a factor notable as a cause for the increased value of sales as experienced by the various participants in the industry. This implies that the consumer has a better access to the restaurants, as they facilitate the services to the customers. However, recent developments in the industry, entailing the increased negative publicity in the market presents a remarkable challenge to the success of the operators. Consequently, the restaurants sought to dispel these trials in the market. Thus, Domino’s Pizza as a leading operator in the m arket, sought the establishment of strategic procedures to counter the issue. Further, their strategy also sought to engage the customers accordingly, increasing the revenue from sales, as well as, facilitating the expansive operations of the business, taking it to the top in the leading operators in the market. This procedural engagement by Domino’s Pizza entailed the establishment of 7P’s of the marketing mix, in their procedural engagement of the customers and establishment of services.

Paper based on your own version of a walking tour of religious sites Essay

Paper based on your own version of a walking tour of religious sites in New Jersey or New York City - Essay Example e and 29th Street I came across the not so well-known Episcopal Church of Transfiguration, also known as the, â€Å"Little Church Around the Corner.† Later on my walk, I explored the famous St. Patrick’s Catholic Cathedral at 51st Street. And lastly, at 63rd Street, I found the Jewish Temple Emanu-El, the largest synagogue in the United States. At the beginning of my tour, the Little Church Around the Corner didn’t necessarily jump out at me as it’s rather hidden by the mammoth contemporary buildings along the block. The church was founded in 1848, and was originally a rather simple church lacking ornate design and magnitude. As the years have gone by, various architects have built additions to the church that now gives it a hodge-podge like architectural style of buildings that have been glued together. Upon arrival, the first thing I noticed was the quaint garden at the entrance of the chapel. The low gate that surrounds the property gives the feeling of a friendly playground rather than a church. Near this entrance is the Chapel of the Holy Family designed in a style reminiscent of the 1940s, but then, the Lady Chapel from 1906 is a jeweled room of bits of glass. The over-sized decorations are more fitting for a majestic cathedral, but this is what gives this little church its eccentricity. The church gain ed popularity in 1870 when a famous actor/comedian of that time passed away and his funeral was refused at the Marble Collegiate Church, the executor of his will was referred to the â€Å"Little church around the corner,† and has since then been considered a church for theatre misfits, immigrants, and those who see the lighter side of religion. It has also become a popular place for marriage ceremonies because of its romantic history and because the parish quickly accepts marriage situations from all walks of life. Considering the long history of this church, and the way its clergy have continued to creatively add to its physical size, it still

Ethnic minorities in Britain

Ethnic minorities in Britain Ethnic Minorities in Britain Introduction (Mis)labelling identity signifiers bespeaks underlying histories of power structure(s). Indeed, however a case is made based on political, social, economic, cultural and ethnic grounds, an identity signifier remains central to sustain, if not to justify, existing power structures. Further, one specific identity signifier can be employed by contestant parties within a given discourse universe and even in exchange. As contestants struggle over meaning-making, moreover, exchanging (mis)labelled identity signifiers between and within groupings of contestant parties gain particular significance when (mis)labelling practice reaches out for outer frames of contested discourse, beyond a more usual practice of (mis)labelling contestants. Islamophobia, if any, especially as contested within a U.K. context, is just such an instance of an active (mis)labelling practice in which (Jeudo-Christian) Occident vs. (Islamist) Orient as possible (mis)labelled parties to contest exchange exact same (mis )labelled identity signifier i.e. Islamophobic not only in order to frame parties to contest but for an appropriation of what ultimately defines frames of contest per se. Indeed, much literature is dedicated to question the (mis)appropriateness of Islamophobia as a labeller of phobia generated, presumably, from an increasingly visible presence of Islam / Muslims in the U.K. in recent years. 1,2,3 The case for / against Islamophobia, depending on which party holds argument, is, in fact, made blurry given the ambiguity of what constitutes a Muslim identity in the first place. 4 Considering potentially multiple identities of U.K. Muslims 5,6, contestation between and within concerned parties holds a fluid ground more so based on or as a result of fluidity of what makes up Islamophobia. This paper examines multilayered manipulations of Islamophobia as contested within a U.K context. The argument, first, discusses literature on race relations and immigration policies, more emphasis being laid on policies pertaining to Commonwealth subjects in Indian Subcontinent. An examination follows of how race-based (addressing ethnicity, assimilation and multicultural ism issues) as opposed to faith-based (addressing religious practices, rights, and interfaith relations) protections have much influenced and/or mixed up contestations over Islam, Muslims and, most importantly, Islamophobia, if any, within a U.K. context. Finally, Islamophobia is placed in a wider European context in which contestation over Islamophobia as such is connected to Continental debates on modern nation-states and multiculturalisms. Race, race relations and immigration policies Historically, Britain has received waves of immigrants of diverse descent for a multitude of reasons. Yet, post-World War II period, particularly during mid-1940s, 1950s and 1960s, witnessed unprecedented influx into major industrial cities for reconstruction efforts. 7,8 Up until late 1960s, no specific laws addressed inter-ethnic violence and conflict. Ironically, ex-colonies subjects were regarded, after all, as second class citizens. 9 Only when families of Asian (primarily Pakistani, Indian and Bangladeshi) works started to flood English cities and ports in what is referred to as chain immigration (i.e. residents invite close family members and friends and, once settled, relatives and friends invite their own families and friends) did local acts of ethnic violence give prominence to and raise public awareness on a national level of alien citizen status as part of British reality. 10 Still, post-World War II period is one characterised more by inflammatory statements made about nationals of non-British blood and descent 11 rather than about citizens whose allegiance to British values and way of life is questionable because of a different creed such as in case of South-Asians. Indicative of an increasingly racialised public discourse pertaining to immigrants and naturalised subjects is: When individuals like the Marquis of Salisbury spoke of maintaining the English way of life, they were not simply referring to economic or regional folk patterns, but explicitly to the preservation of the racial character of the English people. We have developing here a process of subjectification grounded in a racialised construction of the British Subject which excludes and includes people on the basis of race/skin colour. 12 Indeed, race remains a fundamental subtext of British hegemonic discourse during colonial era, in post-World War II period and beyond. For one, one staple justification for subjugation of nations, groups and individuals is race. 13 Further, in case of a South Asian minority, presumably British Subjects, race is invoked as a justification for inequalities at workplace, housing, education, let alone political rights. 14 In essence, race and racism essentialise subjects of racist acts. Similar to all hegemonic practices which maintain specific power relations within an overarching power structure, racism emphasises superior vs. Inferior duality in order not only to maintain existing power relations but also to morally justify excesses of inequalities. 15 In British context, South Asian workers predominantly from Pakistan, India and Bangladesh particularly during first mass immigration waves of 1940s, 1950s and 1960s were, like a gear fit into a larger wheel, brought in as props, imported, used, and returned. Initially, South Asians workers performed and acted as underdogs much to masters delight. Later, however, as familiarity of British System and Administration developed amongst workers of non-British blood, riots and protests became noise (racist) masters needed to work on. Thus, successive legislations regulating immigrants status within U.K. borders were, apparently, meant to control influx of immigrants and to align British Subjects along well-defined ethnic boundaries.16 As U.K.s ethnic makeup diversified over time and across localities, states insistence on ethnic markers between and within ethnic groups grew by leaps and bounds. The racism formula, endorsed by laws and working brilliantly in a colonial era and slightly so within borders during early days of mass immigration, turned out problematic if not unstabilising given growing pressures of growing minorities in pocket cities, minorities now capable of tipping vote balance. Ultimately, a multi-ethnic / multicultural society is not based on a goodwill, all-accommodating multiculturalism discourse one meant to acknowledge ethnic / racial / cultural differences per se by way of minority rights but, rather, one emphasizing ethnic markers for further state control. 17 In fact, state control, in so far as British Muslims are concerned, represents a clear instance not only of an ethnicity manipulated (at multiple layers of discourse in government, media, and education) but, further still, of an identity (i.e. BrMislim / BrAsian) manipulated (at just same layers) and hence fluidity of what constitutes Islam / Muslim and, probably in turn, Islamophobia. Understanding an emerging Islamophobia requires, however, an examination of evolution of race relations politics from one based on race to one based on faith. Race, faith, Islamophobia, and multiculturalism By definition, political discourse is one characterised by manipulation and is, largely, subject to voters sway in democracies. 18 Political Correctness (PC) is just one example of political machination. In essence, a politically correct expression is a euphemism meant (and, for that matter, meaning) less to fulfil felicity conditions required for an actionable statement and more as instrumental. Thus, British policies on race and ethnicity has marked a shift since installation of race relations acts of 1965 and 1968 19 from an emphasis on racial discrimination to an emphasis on religious extremism and bigotry as a basis for incrimination only selectively, excluding BrMuslims. Indeed, incitement to hatred based on affiliation to Islam is one major legal anomaly scholars continue to point out to. 19, 20 Interestedly, given papers purposes, racial discrimination against BrAsians has not, in fact, been eliminated by virtue of progress in legislation on racial relations but only diverted to another (unprotected by law) dimension, significant as is, of a BrAsian subjects identity. That is, being Muslim. That multilayered public discourse has, moreover, shifted from race to faith is indicative not of actionable (as opposed to pronounced) change but of power structure(s) embedded in race relations discourses in the U.K. Thus, in place of a racialised discourse based on BrAsian intrusion into Britishness, same racial group, now British Muslims, comes out as anti-British. Typical of a manipulative political discourse a game of labelling and re-labelling underprivileged, underrepresented groups (except in prisons) is enacted such that power relations as engineered, largely but not always by, state are maintained within and between different ethnicities in a multicultural community which is, Britain. Unsurprisingly, a set of composite metrics has been developed in order to measure Britishness. 21 That such metrics combine gauges of loyalties at intra-national (i.e. Britain), national (i.e. England, Scotland, etc), or local (e.g. Bradford) levels is, indeed, indicative of an ethnic identit y crisis, particularly so in case of BrAsians / BrMuslims. As a consequence, a group diverse as BrAsians / BrMuslims and framed as inassimilable 22 into wider and mainstream community is bundled up altogether, labelled and made alien. Islamophobia is, one argues, an expression of an anxiety over ethnicity identity. Indeed, Islamophobic sentiments are, upon close examination, aimed not at Islam per se but at Muslims. 23 In fact, literature repeatedly points out that people, rather than faith, is phobes trajectory. 23, 24,25 A broad overview of British media is indicative of who is meant and labelled: If you doubt whether Islamophobia exists in Britain, I [Gordon Conway, Head of Commission on British Muslims and Islamophobia] suggest you spend a week reading, as I have done, a range of national and local papers. If you look for articles which refer to Muslims or to Islam you will find prejudiced and antagonistic comments, mostly subtle but sometimes blatant and crude. Where the media lead, many will follow. British Muslims suffer discrimination in their education and in the workplace. Acts of harassment and violence against Muslims are common. 26 Thus, Islamophobia, a label gaining currency in media and academia thanks to Runnymede Trusts much publicised report Islamophobia, a challenge for us all 27 has acquired such a canonical status as to render alternative neologisms unrepresentative of responses to Islam / Muslims. According to Halliday, Islamophobia indulges conformism and authority within Muslim communities. One cannot avoid the sense, in regard to work such as the Runnymede Report that the race relations world has yielded, for reasons of political [emphasis added] convenience, on this term. 28 Moreover, The use of Islamophobia also challenges the possibility of dialogue based on universal principles. It suggeststhat the solution lies in greater dialogue, bridge-building and respect for the other community, but this inevitably runs the risk of denying the right, or possibility, of criticisms of the practices of those with whom one is having the dialogue. Not only those who, on universal human rights grounds, object to elements in Islamic traditions and current rhetoric, but also those who challenge conservative readings from within, can more easily be classed as Islamophobes. 29 Thus, Islamophobia is employed in such a politically correct fashion such as to silence criticisms, on one hand, and to maintain good neighbourhood relations, on another. The former stance is framed, in right-leaning perspective, as militant, jihadist, terrorist, uncivil, anti-modern and anti-Western. 30 The latter is framed, in Islamist perspective, as accommodating, assimilative and hegemonic. In between is media, an arena for meaning-making and shifting perceptions. Alternatively, Islamophobia can be employed not as a politically correct euphemism in order to silence internal criticisms or to maintain law and order but, rather, to militate against an other. This could take a shape of dismantling politeness courtesies essential not for a politically correct dialogue but for one based on critical questioning. Still, Islamophobia could be further employed such as a cover up for supposedly hidden hegemonic agendas. 31 One peculiar shift for Islamophobia as contested within a U.K. context is how instead of imported aliens made citizens being instigators of hate, violence, unrest, and, ultimately terror an enemy within image is constructed and maintained such as to, apparently, pass Islamophobic sentiments, if any, from one generation onto another. 32 For some now increasingly most, credit to media rivers of actual blood running London streets following London 7/7 (Ã   la 9/11 codification) attacks are reminiscent of symbolic blood as invoked by Enoch Powell in his Birmingham speech in 1968: As I look ahead, I am filled with foreboding. Like the Roman, I seem to see the River Tiber foaming with much blood. The tragic and intractable phenomenon [i.e. immigration] which we [emphasis added] watch with horror on the other side of the Atlantic, but which there is interwoven with the history and existence of the States itself, is coming upon us here by our own volition and our own neglect. 33 Unsurprisingly, Powells xenophobic pronouncements just as all xenophobic pronouncements -gain further inertia as an apparently self-fulfilling prophecy comes true. Admittedly, most, if not all, far-right politics tap into a well-rehearsed repertoire of phobias not least Islamophobia. Moreover, whole political careers are created and enhanced based on precautions from an other: now of colour, now of race, and now of different faith. Across Europe, ballot boxes speak volumes of Islamophobia tapped into as a final recourse against an imminent green menace within. 34,35 Islamophobia: European context Placed in a wider context, Islamophobia is not exclusive to U.K. As a matter of fact, for Europe in which U.K. is situated and to which it is historically affiliated Islamophobia is a common currency. Indeed, each European country has a distinctive narrative to tell of Islam / Muslims. Yet, for all differences, European nations especially former colonial powers share common narratives of home-grown terrorists and phobias. 36 Interestingly still is how European nation states follow a similar pattern of state controls over flow of (now particularly Muslim) immigrants as well as controls of modes of conducts of minorities within. 37 In fact, U.K.s, and for that matter Europes, current immigration laws and policies cannot be fully understood in isolation of European conception of nation-states. Historically, European nation-states evolved into democratic polities in which upholding order and rule of law required consistent policies. 38 As European countries grew increasingly into political, economic and scientific powerhouses, an increasing influx of immigrants required subtler means of control. Typically, in major European countries such as U.K. enacting multiculturalism policies meant, at least apparently in so far as actual practices are concerned, less room for truly diverse communities and more for accommodation, assimilation, and full integration of an increasing alien presence posing, allegedly, menaces to established European Enlightenment canonical values of reason and secularism. 39 Probably understandably, far-right currents in European politics manipulated political machinery inciting violence and hatred at times creating, only in voters minds, all sorts of phobias. The case for Islamophobia is one, consequently, which can be understood primarily based on power relations established and maintained in a wider power structure of Europe. This is particularly significant if one is to grasp global (i.e. Western) war on Islam, which is not. For all long-established and nourished power structures need a signifier, a marker, which, presumably , contains, defines, and tags an assumed other only to maintain law and order in an endless historical power struggle over hearts and minds. In conclusion, Islamophobia is, ultimately, a (mis)label slapped onto bottled up power relations within a marked power structure. In U.K. context, Islamophobia is used, as has been demonstrated, not to mark a shift in discursive practices towards a truly multicultural community but to maintain embedded power relations in which specific groups are assigned definite space within ethnic markers. Initially, race is used to maintain power structures but upon introduction of race acts and laws, subtler formers of control and manipulation are employed by which focus is shift from race per se to faith not as a creed but as another boundary of control. Within (i.e. in BrMuslims community), Islamophobia is employed by Islamic leaders such as to appropriate an exclusive definition of Muslims and Islam, on one hand, and in order to silence internal power struggle over meaning-making of Islam and, probably, anything else. Finally, in a broader context, Islamophobia is employed as a means of control and manipulation of Muslim communities within, multiculturalism policies aside. Notes 1. Nasreen Ali, Virinder S. Karla, and S. Sayyid, eds. A post colonial people: South Asians in Britain. London: Hurst, 2006. 2. Taher Abbas, ed. Muslim Britain: Communities under pressure. London: Zed, 2005. 3. Peter Braham, Ali Rattansi, and Richard Skillington, eds. Racism and antiracism: Inequalities, opportunities, and politics. London: SAGE, 1999. 4. Afifa Hussain and William Miller. Multicultural nationalism: Islamophobia, Anglophobia, and devolution. Oxford: Oxford University Press, 2006. 5. Ibid. 6. Stephan May, Tariq Modood, and Judith Squires, eds. Ethnicity, nationalism, and minority rights. Cambridge: Cambridge University Press, 2004. 7. Peter Braham, Ali Rattansi, and Richard Skillington, Racism and antiracism 8. Yvonne Yazbeck Haddad, ed. Muslims in the West: from sojourners to citizens (Oxford: Oxford University Press, 2002), 19-36 9. Ibid. 10. Peter Braham, Ali Rattansi, and Richard Skillington, eds. Racism and antiracism 11. Ibid. 12. Quoted in Peter Braham, Ali Rattansi, and Richard Skillington, eds. Racism and antiracism, 12. 13. Ernest Cashmore and Barry Troyna. Introduction to race relations. Basingstoke: The Falmer Press, 1990. 14. Ibid. 15. Robert Miles. Racism after race relations. London: Rutledge, 1993. 16. Nasreen Ali, Virinder S. Karla, and S. Sayyid, eds. A post colonial people: South Asians in Britain 17. Ibid. 18. Peter Braham, Ali Rattansi, and Richard Skillington. 19. Ibid. 20. Stephan May, Tariq Modood, and Judith Squires, eds. Ethnicity, nationalism, and minority rights. 21. Afifa Hussain and William Miller. Multicultural nationalism: Islamophobia, Anglophobia, and devolution. 22. Nasreen Ali, Virinder S. Karla, and S. Sayyid, eds. A post colonial people: South Asians in Britain, 183. 23. John E. Richardson. (Mis)representing Islam: the racism and rhetoric of British broadsheet newspapers. Amsterdam: John Benjamins, 2004. 24. Christopher Allen, The impact of the Runnymede Trust on Islamophobia in the UK, BOÉCE, no. 6 (2003): 51-69. 25. Ali Mohammadi, ed. Islam encountering globalisation. New York: RoutledgeCurzon, 2002. 26. Quoted in Abdul Gafoor Abdul Majeed Noorani. Islam Jihad: prejudice versus reality (Bangladesh: The University Press, 2002), 41. 27. Christopher Allen, The impact of the Runnymede Trust on Islamophobia in the UK. 28. Quoted in Ali Mohammadi, ed. Islam encountering globalization, 24. 29. Ibid. 30. Robert Spencer. The politically incorrect guide to Islam (and the Crusades). Washington, DC: Regnery, 2005. 31. Ibid. 32. Roger Ballard and Marcus Banks, eds. Desh Pardesh: the South Asian presence in Britain. London: Hurst, 1994. 33. Quoted in Peter Braham, Ali Rattansi, and Richard Skillington, eds. Racism and antiracism, 18. 34. Raphael Israeli. The Islamic challenge in Europe. New Jersey: Transaction Publishers, 2008. 35. Roger Ballard and Marcus Banks, eds. Desh Pardesh: the South Asian presence in Britain 36. Yvonne Yazbeck Haddad, ed. Muslims in the West: from sojourners to citizens. Oxford: Oxford University Press, 2002. 37. Ibid. 38. Nasreen Ali, Virinder S. Karla, and S. Sayyid, eds. A post colonial people: South Asians in Britain 9. Ali Mohammadi, ed. Islam encountering globalization. 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