Stock market efficiency Dissertation Example | Topics and Well Written Essays - 3250 words

Stock market efficiency - Dissertation Example profits over and above the profits made by the other players in the market by using this information. The hypothesis deals with two of the fundamental questions in finance. The first of them is why there is price change in the market for securities while the second considers how the change actually occurs. Investors involve themselves in identifying the securities that are expected to witness an increase in their value in the future. Moreover, they always try to identify those securities which will witness the maximum increase in their value. They are of the opinion that they have the capability to select only those securities that are expected to perform unexpectedly well in the market and drive the others out. In the process they use different forecasting techniques as well as some valuation methods. The combination of the techniques helps them in their decisions regarding investments. However the hypothesis states that the techniques are not effective and no one has the capability to predict the outperformance of the market. If the investors enjoy any advantage it is supposed not to exceed the incurred cost of transaction and research. Efficient market Hypothesis The theory suggests that it is extremely difficult to profit by predicting the movements in the prices. If in a market, the prices can adjust quickly without being biased to new information, such a market is called efficient markets. The availability of new information can lead to change in prices. The available information is reflected in the current prices of the securities taking a period under consideration. Adjustment in the price level takes place before an investor has sufficient time to trade and accrues profit from new information. Competition among the investors to accrue profit is one of the foremost reasons for the existence of efficient markets. Many are also involved in identifying the stocks that are mispriced. When more and more investment advisors or the market analysts spend time i n taking the advantage from the stocks that are either lowly priced or highly priced, the probability of detecting the securities that are mispriced becomes smaller. In a situation characterized by equilibrium, only a small number of analysts will be able to gain from the mis-priced securities because of the chance factor. All investments performing in the market are priced fairly. But it does not imply that they will perform in similar fashion because of the effect of rise or fall in the price level. The capital market theory states that the return expected from a security is a function of the risk. As the nature of the new information is unpredictable, the changes in the prices are expected to be random and the prices of the stocks follow the random walk theory. There are three versions of the hypothesis namely the weak form, the semi-strong form and the strong form of hypothesis. The weak form of efficiency states that the information about the history of prices only are incorpor ated in the current prices and that is why nobody can detect the securities that are mis-priced and gain from the gain by analyzing the prices of the past. The semi strong form of the hypothesis states that the current price reflects all the information that is available publicly. The last form of hypothesis that is the strong form asserts that all types of information namely public and private are reflected in the current price. The aim of all investors is to accrue maximum gains. The newly generated techniques to predict the movements in price have not been as successful as expected. If the risks and the costs of transaction are taken into account

John Foulcher for the Fire Q&a Essay Example for Free

John Foulcher for the Fire Qa Essay For the fire QA The first lines in the poem introduce us to the sounds in the bush. what are these sounds and whom does he think is making the noise? Why is his mistake understandable? What effect is achieved through these sound images? * The opening starts with the word â€Å"Outside† presenting the natural world that appears on the surface to be so beautiful and gentle. â€Å"a chopping sound† disrupts the natural image, â€Å"its singular human thud† represents a human is harming the environment. The effect is that humans are damaging the environment and its not uncommon (the author is not surprised† Explain the effect of the simile â€Å"like clockwork† what effect is created by the repetition of the‘t’ and‘d’ sounds in the sound drops/chipped from a tall dead tree? * It reminds us that this is a place controlled by nature. It is repetitive and continuous the image of the kookaburra and the lizard is vivid. Comment on lines 6-10 discussing the images created, choice of words and what they may suggest, the expressive verbs and the overall meaning of these lines. * The authors powerful language and imagery that we witness the savagery and brutality and feel sympathetic. what does the word oblivious tell us about the birds behaviour? * The bird doesn’t have sympathy for the lizard because it is a part of natures cycle and it was uninvietable. The birds behaviour is instinctive and even though it may seem brutal and savage to us, it is acting only out of instinct and survival. How does the poet indicate his acceptance of the birds apparent brutality. * The poet doesn’t help the lizard, instead he accepts natures cycle and picks up his kindling and leaves. What interpretation can you suggest to explain the meaning of the cold air congealing behind me * Visual image of the air is like a door closing on a world where the poet was an intruder.

What Is Science Communication?

What Is Science Communication? What is Science communication? Science communication generally refers to science related topics presented by the public media to public or non-scientists. Science communication is important, not just to keep a need for developing science, because some of the information is directly depends on science. Science pervades our society today. This is because most of our industries and much of our national prosperity depend on science (Bodmer report, 1985). We used everything or machinery related to science at home as well as at work. Science also affects our personal activities from health and diet to holidays and sports. So, it is important to show the reason everyone should have some understanding of science to improve this understanding. Science communication can also simply describe as the communication between scientists and non-scientists. The public gets information about science through engaging with science communicators and through mass media. Most commonly, the media like newspa pers, television, internet and magazines are the channels used to spread science to the public. The interaction between scientists, the public and also the media becoming very common due to the development of science. Now many of the new generation of student scientists are trained in communication skills so that they can communicate to the outside world (Besley and Tanner, 2010). About the role of scientists in public debate 2001, most of the scientists think that communicate their work and its social and ethical implication to the public is their responsibility. But, there also many scientists said they have no time to communicate their research to the public due to the requirement of their jobs nowadays. Most of the researchers said that constraint of time stopping them for engaging with the public and also the peer pressure as a gap to take part in public engagement (The royal society, 2006). Whereby, the specialist science communicators are suggested by scientists as the best group to communicate science to others. This is because they are equipped with all knowledge, skills or experiences in science which can help them communicate well. These can prevent from misrepresent. Scientists should attempt an effective assessment of potential effects for the public and also ensure the appropriate communication methods so that public not misunderstand and object the scientific works. The scientist was encouraged by the government, research funders and the public to explain and discuss their scientific work, to consider also the sense of the community for example the use of animals in the research (Engaging science, 2006). Scientists should involve themselves in public engagement in order to convince the public on their scientific research. In the recent past, many scientists think that they will lose their job if science became more popular (Gregory,J Miller,S, 1998). But now, most scientists think that it is important and essentials for public to know more about the science (The role of scientists in public debate, 2001). It is important to communicate science to public to stable their careers and to further their research. The public can have a better understanding of science and scientists do which enable them to judge the science issues and to make their own decisions on their lives through communicating (The role of scientists in public debate, 2001). So, what do scientists think about science communication? Some scientists say it is wasting their time and energy to communicate while some feel that science communication will bring to misunderstanding and misrepresenting of information. Where, clinical and biomedical scientists more likely to state misunderstanding and misrepresentation as their disadvantages to c ommunicate the science to the public (The role of scientists in public debate, 2001). But, the health research can be recognized as the work of outsiders and unaccountable to society if there is no engaging with the social, politic and cultural until the research had been implemented (Bangalore, 2009). However, many scientists state that there are no personal disadvantages. Most of the scientists think that communicate science to public bring many personal advantages instead of no benefits: Cash inducements In order to do a research, cash or money is the main premises. From the survey of the royal society in 2006, money was the main incentive to encourage scientists to communicate their findings to public. It doesnt matter the awards or prizes is given to departments or individuals. Attracting possible funding Most of the scientists will take science communication as a part for them to attract more organizations or funder on their research. As in the Pew research, the main obstacles to conduct the research is lack of funding. The vast majority of scientists, 87% stated it is the serious problem to continue their research. Personal satisfaction- By communicating, scientists will enjoy and feel happy to interact with non-scientists, younger public, women and also other colleagues. Most of the younger scientists take their personal satisfaction or enjoyment to communicate their work with the children. They felt satisfied watching the young public enjoy the scenes with them (Martin-Sempere et al, 2008). Make the name known- Scientists communicate their work in public because they are hoping their scientific work known by most of the people instead of only few other scientists. They also hope they can increase their chance of funding. The majority of senior researchers takes science communication as a way to make their name or work well known (Martin-Sempere et al, 2008). Career development Communicating can bring a positive impact to career. It is the way to prove ones skills, knowledge and experiences in the world and stable their career. The report on the role of scientists in public debate in 2001 stated that the majority of scientists using science communication as a useful way to advance their career, providing more opportunities for collaboration and job security. Get to know one scientists competitors By communicating, scientists and their competitors can have a closer contact. Its actually an effective way to interact with other scientists in different fields to improve their works or research which bring more benefits to the society. It may provide a better and details knowledge about them when competing for something like position or funds. Besides, competitors also can be a good partner in their career in the future. Keeping track and motivated By communicating, it is an essential way to keep track of the things we are doing. Its also one of the tools for a scientist to refer back to the different level of research and learn from our research process. Communicating along the way can also keep motivation going to help a scientist to move forward without giving up. Make a scientists research more meaningful- Communicating also a way to let scientists know their work and its benefits to the society. It can help the public know more about the scientific work that carry out by scientists and the purpose of the work in order to let the public know the importance of scientists to the world. Feedback Feedback is an important component in every field. By communicating it, the public becomes aware of the existence of projects and can give advice and suggestions, share experiences to improve the research. Scientists can improve their research and avoiding them from doing some things that will harm the public, society or even the world. Contribute to a positive image of science Through communicating, it is a way to document out all the expenses and also the work to all the people especially the government and the funders. Of this, all the funder or contributors will know and think it is valuable to invest either time or resources in science. So, the funder and contributors will keep supporting the science which indirectly help scientists to solve the issue of funding. In addition, it also helps to show out the scientific contribution to society. Become a better communicator Communication is a useful skills to help scientists to communicate or interact more with the outside world instead of just staying in the laboratory room keep doing their research. It is actually not fair for scientists because just of their duty or jobs make scientists lose their freedom or time to enjoy the colourful activities in this world. Through communicating, scientists can communicate clearly actively with the public to avoid them from discriminate from the world. In the Bodmer report, science communication is very important mainly to enhance the national prosperity in raising the publics quality and private-decision making and enriching the life of an individual. The public should have a better understanding of science to support or even to object the new technologies related to science. This is because there always have issues that appear to be largely scientific or technical brought to the major social and political implications. For example, drugs prescription, pollution, radioactive waste disposal and etc. Governments, a decision maker should prohibit the technologies that are harmful to human being and our earth. Besides, the public should know most of the new scientific method to improve their private life or daily life. For example, smoking, diet, vaccination, technologically based society, electronic gadget which all underlying on science. Public also need to understand the nature of risks and uncertainty of the scientific product bec ause most of the product brought to the balancing of risks. So, science communication is an important part to spread the knowledge of science to the public. In my opinion, there are no much changes of the opinion in the understanding of science between the time of Bodmer report and now. The main difference is the attitudes of scientists think about public engagement. At the time of Bodmer report, the majority of scientists do not take care of the science communication. They focus full attention on their research and do not want to communicate their scientific finding to public. Thats why one of the Bodmer reports conclusion state that scientists need to learn to communicate in public and also learn about media and take training in communication. In the last decade, the majority of scientists have no media, communications training or the training for public engagement (The royal society, 2006). Most of the scientist in-charge in communication and a lot of training had been done to the scientists nowadays. For example, most of the universities state the science communication as a compulsory subject for every science student. Such science c ommunication training is increasingly being offered to working scientists and also future scientists in universities and even at schools. Generally, courses, seminar and workshops are included in this type of communication training to help scientists to talk to public clearly (Besley and Tanner, 2010). Besides, the public attitudes to science and technology is not positive enough, they may become a negative anti science. Well, after the date of Bodmer report, the public is not the deficit models anymore. Generally, there has a different opinion throughout the scientific age. The senior scientists communicate science because of the sense of duty and also to make their name better known to public. While, younger scientists take science communication as their personal satisfaction and enjoyment instead as the way to get rewards or money (Martin-Sempere et al, 2008). In conclusion, scientists should take science communication as the need to educate the public instead of to listen, learn or debate as part of genuine dialogue. Scientists also have to take part in public engagement activities to arouse more information or methods in order to improve their research. Scientists should interact with the public sincerely and not look science communication as a tool for them to grab more individual benefits. This is because the main purpose that every research done by scientists is to make our life better and also to cure all the problems that harm to society and the world. So, no matter it is scientists, public or media, we need to look science communication positively.

Affirmative Action :: essays research papers

Affirmative Action in Higher Education In its tumultuous forty year history, affirmative action has been both praised and attacked as an answer to racial inequality. The policy was introduced by President Lyndon Johnson in 1965 as a method of redressing discrimination that persisted despite civil right efforts and constitutional guarantees. After the passage of Title VII, which prohibits employment discrimination on the basis of race, color, religion, sex and national origin, President Johnson shaped affirmative action through the passage of Executive Order 11246 in 1965. The executive order requires government contractors to "take affirmative action" toward prospective minority employees in all aspects of hiring and employment. On college campuses nation wide, the debate over affirmative action policies started with the implementation of Title VII. Many viewed affirmative action programs as a tool that would not only expand the opportunities of minorities but also play a significant role in diversifying America’s colleges and universities. However, in the late 1970’s, despite its good intentions, flaws in the policy began to show up. Reverse discrimination became an issue, exemplified by the Regents of California vs. Bake case in 1978. Allan Bakke, a white applicant, had been denied admission twice to the University of California Medical School at Davis, while less qualified minority students were being accepted. The medical school had separate admission policies for minority students and reserved and certain amount of spaces specifically for minorities. Bakke had felt that he had been discriminated against and maintained that his rejection violated the equal protection clause of the fourteenth amendment, so he took the University of California Regents to the Supreme Court of California. The Supreme Court ruled that while race was a legitimate factor in school admissions, the use of quotas as the medical school had set aside was not. The most important affirmative action decisions since the Bakke decision were in the landmark 2003 cases involving University of Michigan’s affirmative action programs. Two cases, first tried in 2000 and 2001, were involved: Gratz v. Bollinger, which challenged the University of Michigan's undergraduate admission’s policy and Grutter v. Bollinger which challenged its law school admission’s policy. As Bakke had done before, both Gratz and Grutter challenged the constitutionality of the University’s admission policy, which they argued, was in violation of the Equal Protection Clause of the fourteenth amendment. The Supreme Court upheld the University of Michigan Law School's policy, ruling that race can be one of many factors considered by colleges when selecting their students because it furthers "a compelling interest in obtaining the educational benefits that flow from a diverse student body.

Racism and Anti-Semitism in the United States

Racism and Anti-Semitism in the United States Racism and Anti-Semitism in the United States With The election of the first black president of the United States, Barrack Obama people believed it to be the end of racism in the U. S. Although The United States has made tremendous progress and racism and anti-Semitism are discouraged and not tolerated in many U. S. organizations, it is still a wide spread problem facing Americans today. There are large amounts of evidence reguarding racial profiling in our justice systems, schools, and financial institutions.Hate crimes and race inflicted vandalism continue to be a problem in our culture. It is apparent that even though we have made great strides away from racism the United States still continues to struggle with acts racism and Anti-Semitism. Racism can be found throughout the United States, from government to schools and even churches. While most would say that Obama was elected because of dedication to public service, intelligence and a great campaign, others would argue it was more than that that got him his presidency. With everything the U. S. as experiencing from wars in Iraq and Afghanistan, increasing unemployment, People were reaching for any kind of change that could have made a difference. Since President Obama came into office there has been a 400% increase of threats since President George W. Bush, reaching the highest number of threats in history (Chelala, 2010). This can be mostly contributed to the race of president Obama, while threats against the president are common due to policy and beliefs there are many groups whom do not wish to have a black man running the country.Racism can also be found in our law enforcement systems, in the form of racial stereotypes. While these racial stereotypes have lessened over the years, and become less apparent, or common, there are still many concerns about its presents in our legal system. Though racial stereotyping is illegal the statistical evidence is overwh elming. In an article by D. E Rogers, He argues that â€Å"Simply being an African-American greatly increases your chances of being pulled over by police. One study in Maryland found that 76 percent of motorists stopped on a stretch of highway wereAfrican-Americans, while African-Americans only held 20 percent of all drivers licenses in the state† (Rogers, 2010). In another study, published by Stanford Business, Lowery demonstrates â€Å"how racial stereotypes subtly operate in the penal system. Los Angeles police and probation officers were asked to make judgments about a hypothetical adolescent (whose race was not identified) who had allegedly either shoplifted or assaulted a peer. Certain officers were first subliminally exposed towards commonly associated with African Americans (such as ghetto, homeboy, dreadlocks, etc. on a rapidly flashing computer screen so that they took in the information subconsciously. In contrast to subjects who did not receive this â€Å"primin g,† officers with the subconscious messaging attributed more negative traits and greater culpability to the hypothetical offenders, and they endorsed harsher punishment—all typical responses to black as opposed to white offenders. â€Å"What's particularly interesting is that many of the officers were African Americans themselves,† Lowery notes. â€Å"This shows the degree to which even African Americans can be affected by the negative associations in the environment† (Rigoglioso, 2008).African-Americans are one of the highest groups to be stereotyped there are many other groups that are targeted as well. According to American Civil Liberties Union (ACLU) since the event of September 11th 2001, Muslims, Arabs and other Middle Eastern citizens are widely targeted by law enforcement and other organizations. This set of stereotypes has become more targeted than African Americans do to the uncertainty of their crimes or what they are capable of. Citizens of Mi ddle Eastern decent are not only stereotyped on the streets but in businesses and air ports. September 11 had a substantial impact on Arab American communities. In every site, Arab Americans described heightened levels of public suspicion exacerbated by increased media attention and targeted government policies (such as special registration requirements, voluntary interviews, and the detention and deportation of community members). Although community members also reported increases in hate victimization, they expressed greater concern about being victimized by federal policies and practices than by individual acts of harassment or violence† (Henderson, Ortiz, Sugie ; Miller, 2006).Today racism is discouraged and crimes against race or hate crimes are a federal offence. Most Americans who do experience racist thoughts and or ideas would most likely never admit to them, and yet there are still increasing numbers of acts of racism in our country. â€Å"Even among the most well-i ntentioned and consciously egalitarian people non-conscious associations about ethnic groups still have a pernicious effect on behavior and attitudes†(Rigoglioso, 2008).Lowery also explains that his research â€Å"confirms that children who identify strongly with parental figures tend pick up their parents' racial views† (Rigoglioso, 2008). This observation can be both bad and yet promising, because children can also pick up and spread non-racist behaviors as well. Though groups such as the Ku Klux Klan and other racist organizations are social out casts, they are still existent in American culture today, but do not freely announce their beliefs in the streets as they did many years ago.So does the evidence remains in the continuous acts of violence that are apparent to racial aspects? From beatings to killings and all around cruel behavior towards and against many different races all across the United States continue to take place daily and numbers continue to rise. Is the American culture truly free from Racism and Anti-Semitism? There are those who believe that Racism is going away or has even become non- existent in the United States.Many people sometimes refer to this as racism denial, those who do not see or choose not to see the growing racial occurrences in the United States. Racism is defiantly not as blatant as it once was, is it possible that we have just moved on or transitioned to a new definition of racism? It can be said the new form of racism is in the denial of racism. According to John McWhorter, racism in America is gone; he stated that even though Americans will continue to be imperfect, and races will still be stereotyped, some races will still receive special treatment or different treatment than others.But he believes that as a whole or majority of America has moved past racism as it is no longer a huge problem in the United States, as it once was in the past (McWhorter, 2008). Most who believe that racism in the United Stat es of America is over, believe that it officially ended in 2008 when we elected our first black president. These people or groups of people can most likely be categorized as denying racism. Does the election of a black president truly mark the end of racism in our country? America will always suffer from the results of slavery and will always be tarnished with these memories.But for many years America has allowed citizens of every race to achieve anything and attend any school, but the fact remains that some Americans hold racial beliefs and tend to target or inflict these beliefs on others. So maybe America as a country is no longer suffering from racism, but the evidence remains that many Americans as individuals still hold to racist beliefs. So due to continued acts of racist crimes, comments and stereotyping found in our schools, law enforcement and business, the fact remains there is still racism in our country, even if we choose not to see it or acknowledge it.The election of a black present was a great turning point for our country but was not the end of racism and anti- Semitism for the United States of America. References Chelala, C. (2010, April 02). Is racism still alive in America? Retrieved from https://www. commondreams. org/view/2010/04/02-7Hillen, John. Henderson, N. , Ortiz, C. , Sugie, N. , & Miller, J. (2006, June). Law enforcement & arab american community relations after september 11, 2001. Retrieved from http://www. vera. org/download? file=147/Arab+American+community+relations. pdf McWhorter, J. 2008, December 30). Racism in America is over. Retrieved from http://www. forbes. com/2008/12/30/end-of-racism-oped-cx_jm_1230mcwhorter. html Rigoglioso, M. (2008, January 01). Racial stereotypes can be unconscious but reversible . Retrieved from http://www. gsb. stanford. edu/news/research/hr_racialstereotypes. shtml Rogers, D. E. (2010, June 30). Racism vs. African-Americans in America. Retrieved from http://theworldofdavid. wordpress. com/2010 /06/30/racism-vs-african-americans-in-america-today-at-a-glance/ http://www. aclu. org/racial-justice/racial-profiling

Kindergarten thru third grade non retention act

Allow me the privilege and the honour of convincing you today in understanding in something I hold very dear to my heart and which I believe so monumental that it must be heard and realized by our entire nation. The No Child Left Behind Act of 2001 has been one of the most valuable pieces of legislation created for the education of our children despite the criticisms it receives (Haney, 2007).Though I believe that most of its contents mean well, I also humbly beg to differ and allow me to state that the children from kindergarten to the 3rd grade will be experiencing more harm than good by this act. Thus, let me declare that the students from kindergarten to the 3rd grade must not be promoted if they did not meet the requirements.I deeply understand the sentiments of a lot of people who believe that children at this level must be given the chance and opportunity to grow regardless of how they performed. In other words, it does not matter what scores they get. What is important is tha t, they be allowed to continue without the thought of the failure. However, the real question is, are we truly helping these children by ignoring that they need help? Will doing this really solve our problems in setting higher standards in education?I firmly believe that we are not helping the children who failed to reach the requirements by promoting them. I believe that we are not giving a solution but only aggravating the problem itself. We cannot act blind pretending that in the long run, everything will be just fine. The moment we let these children be, we are clearly not addressing their potential for growth and development.If a child does not meet such a requirement, then more attention must given to that child. The child must be nourished and given attention to better improve and to truly give the child chance at learning and gaining as much as he or she can.With this I can assure all of you that we will not only heed the call that beckons for better education but more impor tantly, we can bring out the best in every child.REFERENCESHaney, W. (nd) Evidence on Education under NCLB (and How Florida Boosted NAEP Scores and Reduced the Race Gap). Center for the Study of Testing, Evaluation and Education Policy. Lynch School of Education. Boston College. Retrieved 7 June 2007.