Edgar Allan Poe And The Great Gatsby - 940 Words

Stories have been told, ever since the creation of mankind. The cavemen would tell them by using symbols and pictures drawn on cave walls. The Egyptians, Incas, and Mayans would carve symbols called hieroglyphics, to tell their stories. The civilized man before print, would tell their stories by word of mouth, or by hand writing them. There has been many great authors throughout history, with many different styles of storytelling. Some tell their stories by writing poetry, others write fictional novels, and some choice to write factual stories. Another popular way of storytelling is writing short stories. Many authors have written short stories in their time, however none compare to Edgar Allan Poe. Edgar Allan Poe was able to transform events from his own life, sometimes horrific, into works of art. The time period from which Edgar Allan Poe lived, also played a significant role in his writings. One of the only other authors that campers to Poe is, Nathaniel Hawthorne. Ed gar Allan Poe is one of the greatest storytellers and authors of all time. Edgar Allan Poe’s life played a major factor in his writing. Edgar Allan Poe was born in1809. Poe’s father, much like him later in life, was an alcoholic and substance abuser. His father abandoned his family when his sister was born, and was never seen again. Poe’s mother died shortly thereafter of tuberculosis. Poe was then sent to live with John and Frances Allan, where he would live out the rest of his childhood,Show MoreRelatedThe Problem Of Drugs And Drugs1471 Words   |  6 Pagesreasonable for her to drink when she is tired or shaken up, which is a common behavior of addicts. The Great Gatsby is another piece of literature that emphasized the effects of alcohol on Americans during the roaring twenties. In the novel, F. Scott Fitzgerald wrote about the main character, Jay Gatsby, as a wealthy man who threw enormous parties at his house every week. In these parties, Gatsby had plenty of alcohol available for his guests’ —some who he never met— from illegal sellers since theRead MoreSymbolism in The Great Gatsby and The Raven Essay883 Words   |  4 Pagessymbols are more well-known and better understood than others. Authors use symbols to tell how they are feeling (Overview). The symbols in F. Scott Fitzgerald’s The Great Gatsby and The Raven by Edgar Allan Poe are very different; however, they are still very important throughout both pieces of literature. Throughout The Great Gatsby the narrator, Nick, describes the colors that the characters wear and colors that are shown throughout the novel. The colors serve as major symbols in the book.Read MoreReflection Of Education1016 Words   |  5 Pagesout of my minds. One of the things that really stuck to me was that one of my 5th grade teacher loved Edgar Allen Poe, in which he had pictures of his quotes, or books. We would always learn a lesson, and he would rope it back to Edgar Allen Poe, someway or somehow. He would always have this old time record player that he would play Edgar Allan Poe records along with reading us a book that Mr. Poe created. The books that I remember that he read was The Tell-Tale Heart, and The Raven in which in theRead MoreAnalysis Of Walt Whitman s I Hear America Poem1314 Words   |  6 Pagesme, in my previous English classes, none of them made me go in front of the class and present–, made infograph, and even a multigenre project. We also can’t forget the books we’ve read in class, like poems from Emily Dickinson, Walt Whitman, Edgar Allan Poe, and novels from F. Scott Fitzgerald, and we can’t forget novella like Of Mice and Men or short stories that we read in our English textbook. All of these things have tested my ability to better improve myself or inform me on where I struggleRead MoreMy Thoughts On Being A Bookworm930 Words   |  4 Pagestested me on novels to make sure I read them closely instead of just skimming the pages. Every time a pizza party came around, I filled my sheet. My love of reading incorporated more than just one type of literature. I read horror stories from Edgar Allan Poe, love stories, dramatic novels, historical fiction, poetry, and anything I could get my hands on. If a book had a nail-biting plot twist or a heart-wrenching ending, I loved it. I still do. Whenever teachers assigned books for class, I actuallyRead MoreBrief Survey of American Literature3339 Words   |  14 PagesBrief Survey of American Literature 1. Beginnings to 1700 Great mixing of peoples from the whole Atlantic basin Bloody conflicts between Native Americans (or American Indians) and European explorers and settlers who had both religious and territorial aspirations - Native American oral literature / oral tradition - European explorers’ letters, diaries, reports, etc., such as Christopher Columbus’s letters about his voyage to the â€Å"New world†. - Anglo (New England) settlers’ books, sermonsRead MoreANALIZ TEXT INTERPRETATION AND ANALYSIS28843 Words   |  116 Pagesthe text reveals under close examination. Any literary work is unique. It is created by the author in accordance with his vision and is permeated with his idea of the world. The reader’s interpretation is also highly individual and depends to a great extent on his knowledge and personal experience. That’s why one cannot lay down a fixed â€Å"model† for a piece of critical appreciation. Nevertheless, one can give information and suggestions that may prove helpful. PLOT The Elements of Plot When weRead More William Faulkners Use of Shakespeare Essay5388 Words   |  22 Pageshas a great deal of talent he can use Shakespeare as a yardstick† (Webb and Green 134). In one of his last interviews shortly before his death in 1962, Faulkner said of all writers, â€Å"We yearn to be as good as Shakespeare† (LIG 276). The parallels in the lives and careers of the two writers are remarkably striking. Both were born in provincial small towns but found their eventual success in metropolitan cities, Shakespeare in London and Faulkner in New York and Hollywood. Both had a great love

Critical Analysis on Nuclear Energy Development Free Essays

Introduction Radiation is a form of energy and different types of radiation have different amounts of energy. If radioactive waste gets out of its safe container and in to the environment it could contaminate the wildlife and people. A type of radiation is nuclear energy. We will write a custom essay sample on Critical Analysis on Nuclear Energy Development or any similar topic only for you Order Now Nuclear energy was discovered by lots of different people but it all started out in 1895, when Wilhelm Rontgen began passing an electric current through an evacuated glass tube and producing continuous X-rays. Nuclear energy is said to be safe compared to other energy sources. The three safety issues with nuclear energy is controlling the rate of the reaction if the reactions is uncontrolled it could cause a meltdown and radiation could seep outside of the power plant. The next safety issue is managing the radioactive materials used in the reactors. The third and final safety issue is the security of the material, because if it gets in to the wrong hands it could cause a nuclear war. A nuclear reactor produces and controls the release of energy from splitting the atom. The electricity released is used to create heat which is then used to create steam which in the very end you end up with electricity. Amounts of radiation released into the environment are measured in units called curies and the dose that a person receives is measured in units called rem. When it comes to nuclear energy there are a lot of regulations. The first regulation is that the nuclear power plant must be licensed by the United States Nuclear Regulatory Commission and while the reactors are being built they will be supervised at all time and there has to be a final inspection as soon as the reactor is finished. They do inspections quite often to check the condition of the plant and to make sure they are following the laws. The second regulation is storage containers. After a while the uranium will not be able to be used anymore but it is still very radioactive so they have to put it in safe containers and store it either at the plant or shipped to a storage facility. The third safety regulation is transportation. Trains, trucks, airplanes, and boats all transport radioactive materials. The United States Nuclear Regulatory Commission and the department of transportation have made rules about how much radioactive waste can be transported at one time. They d o this because if there was a spill they want to keep the amount spilled to a minimum. The forth regulation is fire safety. Fire detection is so important that they have adequate fire monitoring systems. They also have a group of people that there only job is to watch for fires and if there is one to report it right away. Nuclear power plants are required to have one control station protected against fire in which workers can safely shut down the reactor if necessary. The fifth and final regulation is reports. The plant must report if they are shut down for any reason, any event that can negatively affect the plant even if it is out of their control, and they must report any airborne or liquid release of radioactive materials must be reported to the United States Nuclear Regulatory Commission if it exceeds the predetermined amount. The waste that comes from these plants if they choose to send it somewhere goes to a remote location in southeastern Washington State called Hanford. In this desert about 2 million curies of radioactivity and thousands of tons of chemicals are stored there. There are many weapons and medical needs. The amount of nuclear energy out there right now poses the biggest threat to public health in human history. Medical planning and defense preparations for nuclear war have increased. There is little evidence that they will be of significant value in the aftermath of a nuclear conflict. Security seems to be incompatible with basic principles of medical ethics and international law if there is any sign of weapons of mass destruction. The primary medical responsibility under such circumstances is to participate and try to prevent the start of a nuclear war. In 2008 there were some big changes made to the final FY funding bill which was then submitted to the Department of Energy’s office of Nuclear energy. Some of the programs received more than they had requested for while significant cuts were made to the budgets for other programs. The administration had requested for $801.7 million for the Office of Nuclear Energy’s. The Consolidated Appropriations Act provided $961.7 million which is $160 million over the requested amount. Preparing uranium for a reactor is a long drawn out process it goes through the steps. The steps are mining, milling, conversion, enrichment and fuel fabrication. These steps make up the first part of the nuclear fuel cycle. Uranium will spend about three years in the reactor before it goes through the second part of the nuclear cycle. The second part of the cycle includes temporary storage, reprocessing, and recycling before eventually disposing as waste. With a financial push from President Obama and even Bill Gates Nuclear energy is out in front of all the rest as an alternative to generating electricity with fossil fuels. Radioactive decay is the spontaneous breakdown of an atomic nucleus resulting in the release of energy and matter from the nucleus. Fission is a nuclear reaction in which an atomic nucleus splits, or fissions, into fragments, usually two fragments of comparable mass, with the release of large amounts of energy in the form of heat and radiation. Fusion energy can also be produced by combining light nuclei in a process is called nuclear fusion. The things that have gone on in Japan have been absolutely terrible. On March 11th is when the earthquake and tsunami hit Japan. The nuclear power plant had emergency procedures in place for an earthquake in Japan. The nuclear power plant has fuel in the reactors that gets very hot and continuous stream of water that runs by the heated fuel and carries the heat away. This fuel is designed to work in such a way that it will cool on its own if there are no continuing chain reactions. When the earthquake hit, the plant shut down as it was designed to do and emergency power went on. However, then the tsunami hit as well, and power was completely knocked out. Of the eight reactors, they were having problems with three. The combination of two natural disasters is what caused this issue. Every nuclear power plant has to prepare for emergencies just like the one in Japan. Some of the rules you are supposed to follow when a power plant has an emergency are to listen to the specific warnings because you may be able to take care of the problem before it would get outside the power plant. Review your emergency handbook and be sure to tune your radio to the emergency alert systems channel to keep updated on what’s going on. Finally, evacuate to a designated reception center. Now there are different things you have to do when the emergency has already happened. If you are told to evacuate do not return home until officials say its okay, if you are told to stay inside and not come out do it and seek medical treatment if you have any unusual symptoms such as nausea which could be related to the radiation exposure. My personal opinion on developing nuclear energy is that it is a good thing to have around because it produces energy and jobs. The bad thing about it is that it is very dangerous to have around. If there was ever an accident it could leak toxic radioactive waste everywhere. I think that we should not produce nuclear energy in the United States because it is too dangerous. I would be against it if the United States ever decided to put a nuclear power plant in Delaware Ohio. If something were to go wrong all the people and businesses around there could be hurt and the people could die. If we had a power plant in Delaware Ohio there would be no way they could store the radioactive waste here they would have to send it somewhere else which would cause more of a danger because then a spill could happen on their way to the new site.That is to close for comfort. If they decide to put more nuclear power plants in the United States they should put it out in the middle of nowhere. I t hink that would be the safest place for them to be. References Black, R. (2011, March 15). Japan quake: Radiation rises at fukushima nuclear plant. Retrieved May 18, 2011, from http://www.bbc.co.uk// Hanes, A., Gleisner, J. (2009, October 24). Nuclear weapons and medicine: Some ethical dilemmas. Retrieved from National institutes of Health website: http://www.ncbi.nlm.nih.gov//? Nuclear fuel cycle. (2011, February). Retrieved May 18, 2011, from http://www.world-nuclear.org//.htm Nuclear power plants. (2011). Retrieved May 18, 2011, from http://www.mass.gov/pageID=eopsterminalL=4L0=HomeL1=Homeland+Security+%26+Emergency+ResponseL2=Planning+%26+PreparednessL3=Familysid=Eeopsb=terminalcontentf=mema_nuclear_power_plants_infocsid=Eeops Pros and cons of nuclear energy. (2011). Retrieved May 18, 2011, from http://timeforchange.org/and-cons-of-nuclear-power-and-sustainability Safety regulations of nuclear power plants. (2011, February). Retrieved May 16, 2011, from http://www.ehow.com/_5042817_safety-regulations-nuclear-power-plants.html Sloter, K. (2011, March 17). What really happened– japan nuclear power plant crisis. Retrieved May 18, 2011, from http://umichsph.wordpress.com/?/?/?/really-happened-japan-nuclear-power-plant-crisis/ Staedter, T. (2010, March 17). Is nuclear energy safeRetrieved May 16, 2010, from http://news.discovery.com//nuclear-energy-safe.html How to cite Critical Analysis on Nuclear Energy Development, Essay examples

Profitability of Commercial Bank-Free-Samples-Myassignmenthelp

Question: Discuss about the determinants of Profitability of state-owned as well as joint- stock Chinese Commercial banks after the Global Economic Crisis (GFC). Answer: Introduction This chapter examines the determinants of profitability of state-owned as well as joint- stock Chinese commercial banks after the global economic crisis (GFC). The determinants of profitability of the commercial banks are usually grouped into both the internal factors and external factors. The internal factors are generally under the control of management while the external factors are ahead of the bank management control. The internal determinants provide the reflection of how the bank management policies as well as decisions vary regarding the composition of assets (Allah Teng-su-dao Yu-ming, 2013). This signifies the amount of investment in both current as well as non-current assets, deposit composition interpreting current as well as fixed deposits, capital adequacy indicating ratio of debt to equity, efficiency in operative expense and the dependency on the liquidity management and debt leverage. Both the theoretical and empirical aspect of these internal factors is analyzed in this study. On the other hand, the external determinants of profitability including macro environment and industry structure are also explained in this research study. A well capitalized commercial bank is risk averse and improves confidence of the public, reduces cost of bankruptcy and leads to positive effect on profit margin. Research methods of profitability of commercial banks The determinant that affects the profitability in commercial banks is split into two groups that includes- internal or bank specific factors and external or macroeconomic factors as well as industry structure. The internal factors includes bank size, cost to income ratio, capital adequacy ratio, interbank offered rate etc while the external factors includes inflation, GDP, unemployment rate etc. Bank size has been considered as the pertinent determinant of its profitability level. Large size banks reduce cost due to economies of scale. In fact, diversification opportunities permit in maintaining returns while reducing risk. On the contrary, large bank size implies that it can be unmanageable to the management or it might be result of aggressive growth strategy of banks. De Haan Poghosyan (2012) states that, large bank size tend to be highly profitable in the industrial nations. In case of Chinese banks, large bank size seems to be linked with more government intervention as the they are the state owned commercial banks with huge portion of government intervention and ownership. Cost to income ratio refers to the measure of efficiency indicating the cost of operation in banks as percentage of income. Qin Dickson (2012) states that larger the cost to income ratio, less efficient the commercial banks will be. This in turn adversely impacts on the banks profit based on the extent of market competition. Capital adequacy ratio (CAR) refers to the ratio of banks capital to their risk. This helps in determining the capacity of banks for meeting time liabilities as well as other risk including operational risk, credit risk etc. Zhao, Zuo Zillante (2013) found out that this ratio affects the performance of banks positively, although it is confined to state-owned banks. Inter- bank offered rate refers to the interest rate at which the commercial banks lend as well as borrow from each other in the inter- bank market. The commercial banks borrow as well as lend money in the interbank market for managing liquidity and meeting reserve requirements sited by regulators. This rate has been considered as the leading gauge for the central bank when they creates as well as conducts monetary policies. This factor also helps in determining profitability rate in the state owned as well as joint stocks commercial banks. Nonperforming loan ratio refers to the sum of total amount borrowed upon which the payments has not been made by the debtor for 90 days. The lending policy of the commercial banks has vital influence on the NPLs. This lending decision of the banks in turn has huge significance in the banks as it determines their future level of profitability and performance. As stated by Tan Floros (2012), the immediate result of huge amount of total NPLs leads to failure in banks and economic slowdown. Besides this, the profitability in banks can be measured in terms of return on equity(ROE), return on assets (ROA) and net interest margin(NIM). The primary interest of bank owners is ROE as with the help of this they earn on investment, which in turn depends on ROA and total asset value. ROA refers to the financial ratio that reflects profit percentage that the bank earns with respect to its total resources. Similarly, NIM reflects how well the commercial banks earn income on their assets. Thus, high NIM signifies well-managed commercial banks and also signifies future profitability. Principal component analysis Principal component analysis refers to the mathematical process that is used to transform number of correlated variables into uncorrelated variables. It also represents powerful tool to analyze data by declining several dimensions without any loss of information applied in datasets. The PC is used for identifying risk exposure and determine profitability in banks In order to measure the profitability of Chinese commercial banks, the principal component analysis has been carried out. The principal component variable that is used in this study includes ROAA, ROAE and NIM. ROAA, ROAE and NIM represents return on assets, return on equity and net interest margin. The principal component analysis attempts in reorganizing the multiple indicators with specific correlation into new set of indicators, which are not dependent on each other (Chen, Chong She, 2014). ROA refers to an indicator that indicates the profitability level of bank or organization in relation to its total assets. It is estimated by the ratio of net income to the total assets. It has been seen from the article (Economics.uwo.ca, 2017) that, higher the ROA, lower the risk of banks financial instability. The ability of bank helps in generating sufficient as well as sustainable profitability raises its market continuity. However, in China, the ROA reflects positive sign of coefficient . This reflects the fact that after the GFC, the profitability level of Chinese commercial banks increased and risk of instability in banks also decreased. ROE refers to the net amount of income returned in terms of percentage of the shareholders equity. It determines profitability that is generated from the total amount of capital , which the shareholder. The ROE of the Chinese banks increased from 2009 to 2014 but suddenly it fell in the last two years ( 2015 and 2016). This highlights that the level of profitability increased from 2009 to 2014 but it fell in the last two years, which adversely affected their financial performance. In comparison to ROE, ROA has been considered as the better measure of the banks profitability as it is affected by banks capital structure. Another principal component that has been used in determining the profitability of Chinese commercial banks is NIM. NIM refers to the measurement of the divergence between interest income that has been generated by banks and the interest given to the lenders (Ijsrp.org. 2017). Recent statistics shows that the NIM in Chinese banks has increased over the years 2009 to 2016. Therefore higher the NIM, larger will be the profit margin of banks. This variable is attributable to the huge operational efficiency and better management. After the GFC, these coefficients highlights that total assets as well as bank capitalization had no adverse impact on the anticipated high value variables such as equity ratio, capital adequacy ratio, ROE, ROA etc. Additionally, bank capitalization as well as assets exerted no positive impact on the small value variables such as operating cost ratio (Johnston, 2014). The size of bank capitalization had positive impact on the capital adequacy and equity ratio after the sub-prime crisis period. This reflects that capitalization of bank counteracts the adverse impact on the capital adequacy during the financial crisis period Data envelopment analysis DEA refers to the non-parametric efficiency evaluation methodology from output to input that uses output with input and hence constrict effective decision-making unit (DMU). It is specially used for measuring productive efficiency of the banks or decision-making units (DMU). This tool is also utilized to benchmark in the banks operation management for estimating production and profitability level. After the GFC, the results of DEA reflect that the technical efficiency and profitability of the commercial had less volatility. The output indicators shows that total loans of the five state owned banks in China had decreased while the total deposits increased during this period (Dietrich Wanzenried, 2012). Likewise, the output indicators of joint stock commercial banks indicates that the total loans had declined but the input indicators signifies that total deposit had increased over the years. But the statistics reflects that the total deposits in state owned Chinese commercial banks is higher than joint- stock banks (Luo Liang, 2012) . This signifies that the performance of state owned banks was better than joint owned banks in this nation after the GFC. Chinese commercial banks adopts DEA as it benefits them in two ways that includes- DEA does not require for constructing particular production function or coefficients of functions that can avoid unwanted results caused by individuals wrong settings of pattern function DEA effectively deals with problems of both qualitative as well as quantitative indicators that might settle the ratio scale and scale data compatibility along with less restraint of the values. Kapan Minoiu (2013) found out that, DEA helps in analyzing the efficiency of both the state owned and joint- stock commercial banks in China. This in turn facilitates in determining profitability of these banks. Internal factors (bank specific) Theoretical aspects The internal factors of the commercial bank play significant role in finding its profitability level. It has been opined by Zhao, Zuo Zillante (2015) that, the internal factors of the banks includes bank size, equity ratio, cost- to income ratio, core capital adequacy ratio, inter-bank offered rate and non- performing loan ratio. Chen, Chen. Gerlach (2013) has founded that the commercial bank capital have direct effect on the profits of the bank. With the increasing expansion as well as development of the commercial banking sector in China and its vital position of this nations financial system, their operational efficiency has been mainly focused on for increasing their profitability. The commercial banks of China have currently adopted two main efficiency assessing methods that includes- SFA (Stochastic frontier approach) and DEA (data envelopment analysis). The efficiency of bank also includes technical efficiency and scale efficiency. Technical efficiency has been used for meas uring the ability of manufactures receiving maximum output in the present technology level. On the other hand, scale efficiency signifies the effect of changes in the efficiency size. Wang (2014) found that, the profitability of bank measured in terms of return on equity (ROE) is directly related to concentration of bank, ownership of bank and other macroeconomic variables. In addition, the intangible bank specific determinants are also important in determining the profitability in the banks. One of the example is the quality of bank managerial decisions. Martin (2012) stated that, the quality of management of commercial bank is closely linked to corporate governance. However, there have been peculiar circumstances in China in account of corporate governance, taken from its transformation to the market economy. The Chinese banks in fact are subject to huge extent to government intervention. There have been several cases in which the Chinese commercial banks were not free in choosing their structure of asset as credit has been directly or indirectly managed by the governments (Sun, 2013). Therefore, weak corporate governance results in low quality of asset, high liquidity and hindering profitability. The Chinese banks that are owned by government are subject to huge government intervention as compared to the banks of private ownership. Empirical Aspect Both the state-owned and joint stock commercial banks in China gain profit from their lending activities. The empirical aspect signifies that the structure of market was not the main factor that influenced the profitability of banks. The profitability of banks has been measured by using Return on Assets ( ROA) and return on equity ( ROE) and Net interest margin (NIM). Besides, the ROA on the state owned commercial banks has been lower than those of joint- stock banks while the ROE for state owned has been higher than that of joint stock banks. ROA has been used for two reasons, which includes- Firstly, ROA is more comprehensive determinant of profitability Secondly, it is allows comparison between the commercial banks of China Recent study reflects that the total assets of the Chinese commercial banks had increased during the period 2009 to 2016. However, this indicates that the profitability level of the state owned and joint stock banks improved over this period. Liang (2012) found that the cost to income ratio of the state-owned commercial bank in China had decreased during the period 2009 to 2016. Likewise, the joint stock commercial banks in this nation also decreased during this period. As a result, it leads to increase in efficiency and profitability of the Chinese commercial banks after the GFC. Moreover, decline in loss of loan rebounds in profit margin of this country. In addition, the Tier 1 capital adequacy ratio of both the state-owned as well as joint stock commercial bank in China had increased slightly increased over this period. The main reason behind this is that the business kept on expanding, the risk were under the control and the retained earnings outcomes into increase in capital. Thus, this adversely impacts on the profitability level of the Chinese commercial banks. Furthermore, the nonperforming loan rate of the commercial banks in China has been rising during this period. The rise in nonperforming loan rate (NPL) was due to general economic downturn , decline in price of properties and bad operating conditions of the small and medium enterprises (SME). Over this period, this NPL rate of the Chinese commercial banks had increased over this period. This adversely impacts on the profitability level of the banks in this nation (Zhang, Cai Dickinson, 2016). The interbank offered rate refers to one of the rate of interest rate with highest level of marketization. This is mainly determined by the lending supply and demand in the market. The interbank offered rate of the Chinese commercial banks had increased over this period, which reflects increase in their profitability level. Figure : NPL ratio of the Chinese commercial banks Source: (Chen, Chen Gerlach, 2013) External factors and profitability Macroeconomic factors It has been pointed out by Kolapo, Ayeni Oke (2012), the profitability level of the commercial bank is also influenced by the external factors. Specific to these macroeconomic factors, this study has selected three main determinants for determining profitability of the Chinese commercial banks. These determinants include- real GDP growth rate, growth rate of money supply and rate of unemployment. Real GDP growth rate refers to the measurement of the economic activity of the nation. Increase in economic growth of this nation encourages the commercial banks in lending more amounts and permitting them in charging higher margins and enhancing their asset quality. Ongore Kusa (2013) has founded direct relationship between the profitability of bank and the real GDP. Firth, Li Shuye (2016) opines that per capita income has been used and suggested that this macroeconomic factor has strong positive influence on the earnings of the banks. However, Martin (2012) findings recommended that there has been correlation between the business cycle and profitability of banks. In addition, the real GDP growth rate influences positively on the performance of the banks through three channels that includes- net interest income, operating cost and improvement of loan losses. Therefore, higher GDP growth rate causes increase in firm loans as well as deposits and makes net interest income of banks t o enhance. Rise in GDP growth rate entails higher disposable income and decline in unemployment rate in the nation. Thus, net interest income as well as loan losses are pro-cyclical with the growth in GDP (Yao, Luo Loh, 2013). The real GDP growth rate during the period 2009-2016 in China had slowed significantly over the years after GFC, which reflects deposits in banks have not increased at higher rate and hence increased the cost of loan payments. Figure : Real GDP growth rate in China Source: (statistia.com, 2017) The unemployment rate has indirect relationship with the profitability of banks. Increase in rate of unemployment triggers to rise in NPL rate owing to contraction of reimbursing household capacity (Riaz Mehar, 2013). Furthermore, rise in unemployment rate leads to material decrease in demand for loans. This in turn leads to significant reduction of the ratio between interest bearing assets and interest bearing liabilities. Therefore, rise in unemployment rate adversely impacts on the financial performance of commercial banks. Recent statistics reflects that the unemployment rate in China during the period 2009 to 2016 had been stable. As the level of unemployment over the years had remained below the target level (5%), it increased the profitability level and improved the financial performance of Chinese commercial banks. Figure 3: unemployment rate in China during the years 2009-2016 Source: ( As created by author) Money supply is also considered as another determinant of profitability of the commercial banks. The quantity theory of money states that changes in money supply leads to change in the nominal GDP of the nation and the price level. Money supply signifies the entire currency stock and liquid tools circulating in the economy within a specified time frame (Chen, Chen Gerlach, 2013). The rise in the money supply reduces interest rates and this in turn creates huge investment and stimulates the consumer spending. It is usually determined by the policy implemented by Central bank. Nevertheless, it is influenced by the households behavior that holds money as well as the commercial banks in which the cash is being held. Lee Chih, (2013) used the money supply as the measure of the market size and hence found that it influences the profitability of banks. Thus, money supply positively affects the profit margins of the commercial banks. Figure 4: money supply in China during the period 2009-2016 Source: (trading economics.com, 2017) The above figure reflects that the money supply in China had increased after the GFC (2009-2016). This increase in supply of money enhanced the profitability of both state owned as well as joint stock commercial banks in China. However, the monetary policy implemented by the central bank of China enhances money supply. This in turn directly raises the existing funds of the Chinese commercial banks and there by increases their interest income. Industry structure (Market concentration) It has been opined by Hou, Wang Zhang (2014) that, the market concentration has significant indirect relationship with the profitability of banks. Market concentration refers to the extent to which the smaller number of firms or banks accounts for larger percentage in the market. The concentration ratio signifies the presence of market power. Meanwhile, it has been indicated by Dong (2014) that, the industry structure has significant impact on the performance of both the state-owned as well as joint- stock commercial banks in China. According to the share holders perspective, higher concentration rate is linked with the better quality of bank loan, lower risk of asset and less insolvency risk. One of the approach that helps in measuring the market concentration level is Herfindahl-Hirschman Index (HHI), which is estimated by summing up the squares of the firms market share in the industry. According to Firth, Li Shuye (2016), the HHI for the banking industry in China that includes both the state owned as well as joint-stock commercial banks competing in the similar markets is 0.11. This indicates high level of concentration in the Chinese market. Over the last few years (2009-2016), the market concentration level of China remained almost stable. This reflects that the higher market concentration level in Chinese banking industry has increased their banking profitability level. Molyneux, Liu Jiang, (2014) states that the market power materializing from the concentrated banking industry does not encourage the managers as well as the shareholders to engage in the risky operation of the banks and selection of customers. A high concentrated market have various applications, which includes- The redistribution of banks profit within the industry at the expense of small size banks Influential banking market helps to achieve huge profits at expense of other non- banking companies , which in turn benefits the smaller commercial banks Conclusion In the context of the reform in Chinese commercial banks, this study analyzes the determinants of profitability of the Chinese banks after the GFC. The analysis has been done based on the panel data set of five state owned banks and forty joint stock banks. After adopting the DEA, the efficiency of these commercial banks has also been determined in effective way. After reforms in banking, the state owned commercial banks in this nation have become leading financial force in the global economy. They have become more efficient as well as profitable after GFC. Their profitability had also been rooted with high interest margin, cost advantage and oligopolistic market structure with highly protective restrictions. Moreover, as the efficiency of joint stock banks declines, there profitability became less than the state owned banks in this nation. The profitability of Chinese commercial banks has been determined based on the both the external and internal factors. In order to enhance financ ial intermediation of the present commercial banking system in this nation, policymakers considers increasing the ceiling on the rate of deposits. Implementation of this policy helps the shifting the deposits from large to smaller commercial banks that are highly efficient in using these deposits. It also helps in reducing market concentration level and encourages competition among banks. Liquidity also plays critical role in improving bank efficiency and thereby improves their capacity of lending that is based on strategies. From this study, it can be seen that the level of profitability in Chinese commercial banks has increased after the GFC. Moreover, both the external and internal factors reflect the efficiency of the bank improved, which led to rise in profitability level. This in turn improved the financial performance of the Chinese commercial banks during the period 2009-2016. The above study also indicated that the level of profitability in banks seemed to be persistent in China after the GFC. References Alessandri, P., Nelson, B. D. (2015). Simple banking: profitability and the yield curve.Journal of Money, Credit and Banking,47(1), 143-175. Allah Teng-su-dao, L. J., Yu-ming, Y. I. N. (2013). 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The determinants of commercial banking profitability in low-, middle-, and high-income countries.The Quarterly Review of Economics and Finance,54(3), 337-354. Dong, Y., Meng, C., Firth, M., Hou, W. (2014). Ownership structure and risk-taking: Comparative evidence from private and state-controlled banks in China.International Review of Financial Analysis,36, 120-130. Economics.uwo.ca. (2017). Cite a Website - Cite This For Me. [online] Available at: https://economics.uwo.ca/undergraduate/wuer/2013/Ren_Final.pdf [Accessed 28 Nov. 2017]. Fan, J. P., Wong, T. J., Zhang, T. (2013). Institutions and organizational structure: The case of state-owned corporate pyramids.The Journal of Law, Economics, and Organization,29(6), 1217-1252. Firth, M., Li, W., Shuye Wang, S. (2016). The growth, determinants, and profitability of nontraditional activities of Chinese commercial banks.The European Journal of Finance,22(4-6), 259-287. Fung?ov, Z., Pessarossi, P., Weill, L. (2013). Is bank competition detrimental to efficiency? Evidence from China.China Economic Review,27, 121-134. Haslem, J. A., Longbrake, W. (2015). A discriminant analysis of commercial bank profitability. He, D., Wang, H. (2013). Monetary policy and bank lending in Chinaevidence from loan-level data. He, D., Wang, H., Yu, X. (2014). Interest rate determination in China: past, present, and future. Hou, X., Wang, Q., Zhang, Q. (2014). Market structure, risk taking, and the efficiency of Chinese commercial banks.Emerging Markets Review,20, 75-88. Ijsrp.org. (2017).Cite a Website - Cite This For Me. [online] Available at: https://www.ijsrp.org/research-paper-0516/ijsrp-p5389.pdf [Accessed 29 Nov. 2017]. Jimnez, G., Ongena, S., Peydr, J. L., Saurina, J. (2012). Credit supply and monetary policy: Identifying the bank balance-sheet channel with loan applications.American Economic Review,102(5), 2301-26. Johnston, R. (2014). Principal Component Analysis.Encyclopedia of Quality of Life and Well-Being Research, 5059-5060. Kapan, M. T., Minoiu, C. (2013).Balance sheet strength and bank lending during the global financial crisis(No. 13-102). International Monetary Fund. Kolapo, T. F., Ayeni, R. K., Oke, M. O. (2012). CREDIT RISK AND COMMERCIAL BANKS'PERFORMANCE IN NIGERIA: A PANEL MODEL APPROACH.Australian journal of business and management research,2(2), 31. Lardy, N. R. (2016). China: Toward a consumption-driven growth path. InSEEKING CHANGES: The Economic Development in Contemporary China(pp. 85-111). Lartey, V. C., Antwi, S., Boadi, E. K. (2013). The relationship between liquidity and profitability of listed banks in Ghana.International Journal of Business and Social Science,4(3). Lee, T. H., Chih, S. H. (2013). Does financial regulation affect the profit efficiency and risk of banks? Evidence from China's commercial banks.The North American Journal of Economics and Finance,26, 705-724. Liang, Q., Xu, P., Jiraporn, P. (2013). Board characteristics and Chinese bank performance.Journal of Banking Finance,37(8), 2953-2968. Liang, Y. (2012). Development Finance: China's Banking System in Light of the Global Financial Crisis.Chinese economy,45(1), 8-27. Liu, H., Molyneux, P., Wilson, J. O. (2013). Competition and stability in European banking: a regional analysis.The Manchester School,81(2), 176-201. Lu, Z., Zhu, J., Zhang, W. (2012). Bank discrimination, holding bank ownership, and economic consequences: Evidence from China.Journal of Banking Finance,36(2), 341-354. Luo, Y., Bi, G., Liang, L. (2012). Input/output indicator selection for DEA efficiency evaluation: An empirical study of Chinese commercial banks.Expert Systems with Applications,39(1), 1118-1123 Martin, M. F. (2012). China's banking system: Issues for congress. Matthews, K. (2013). Risk management and managerial efficiency in Chinese banks: a network DEA framework.Omega,41(2), 207-215. Mirzaei, A., Moore, T., Liu, G. (2013). Does market structure matter on banks profitability and stability? Emerging vs. advanced economies.Journal of Banking Finance,37(8), 2920-2937. Molyneux, P., Liu, H., Jiang, C. (2014). Bank capital, adjustment and ownership: Evidence from China. Mugo, H. W., Wanjau, K., Ayodo, E. (2012). An investigation into competitive intelligence practices and their effect on profitability of firms in the banking industry: A case of Equity Bank. Nguyen, V. H. T., Boateng, A. (2013). The impact of excess reserves beyond precautionary levels on Bank Lending Channels in China.Journal of International Financial Markets, Institutions and Money,26, 358-377. Ongore, V. O., Kusa, G. B. (2013). Determinants of financial performance of commercial banks in Kenya.International Journal of Economics and Financial Issues,3(1), 237. Pan, Q., Pan, M. (2014). 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Western Music History free essay sample

Music, much like most of what human beings have declared to be a form of art, has gone through thousands of years of evolution that it now no longer resembles much of what its pioneers intended to be. Indeed, the definition of music in itself along with Its performance and significance may vary according to different cultures and social contexts. It is this ambiguity that has allowed music to traverse not only physical boundaries but also to build bridges between gaps, whether it be culturally or even through a metaphysical period of time and space.It was, however, not always o black-and-white during the days of early musical revolution; it was even less of the case when It came to classical music. For the remainder of this thesis, I would Like to bring attention to four composers who I felt not only helped music evolve in terms of style, but also change the way the world will look at them, forever. We will write a custom essay sample on Western Music History or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page First, let us begin by defining what the various styles of classical music is, as well as their evolutions.Early Western classical music is divided into medieval, renaissance and baroque, the last of which is where this thesis will be delving into first before owing along the timeline, Mozart and Beethoven biographer Maynard Solomon has said that while the arguably two most famous composers of all time have helped popularize classical music amongst the general masses through various means of media, it is without a doubt that without the likes of Bach and his peers, there would have been no Gustavo Mailer or Richard Strauss. That would take place centuries after most of these composers have passed on. Nevertheless, how exactly did the composers of back then affect not only music, but people in general now? Richard Tarpaulins from the university of California argued that John Adams opera The Death of Cliffhanger was romanticism terrorists, and Australian-American composer Melissa Dungy has been frowned upon for using wordings from controversial speeches against neo-Baroque styled music for politically charged pieces. Did classical music really have a hand in the political or socio-economic scene of their time period?Let us take a look. Going not only in chronological order but also in terms of musical evolution, the first to come up would be a man known the world over by his last name: Johann Sebastian Bach. Such Is the legacy of the man that after over 200 years of his death, his middle and surname would be taken as the stage name of rock/metal band skid Rows frontal. While most people would assume a composer is merely someone who sits at a piano, Bach was in reality an organist, harpsichordist, violist and violinist.A pioneer of the Baroque period, Bach began musical tutelage under his father, a 1 OFF puns Johann Sebastian had to live with his brother Johann Christopher from the tender young age of 9 after his parents had passed away. Through his brother, who has an organ player in church and had himself studied under Johann Poachable, Bach began learning the clavichord before being given a scholarship to study music at the age of 14. This would later prove invaluable as it exposed him to a wider aspect of European culture, whilst rubbing shoulders with the sons of noblemen.Once free from his studies at SST. Michaels School in Lundeberg, each came into the employment of several churches and even one Duke Johann Ernst from Wiener. His dissatisfaction with his employers led him to seek a Job at SST. Ballasts, where not only did he have better working conditions, but it is also where e met his future wife Maria Barbara Bach. After convincing the church and city government to renovate the organ at the church, he in turn wrote his first hit Got 1st mien KÂ ¶nigh, Bow71- for the inauguration of the new council.In 1723, Bach began to get seriously busy and began rewriting his and other composers composition, this is a common practice in those days, it is known that Bachs technique of imitating and improvising is nearly as creative as an original composition. It was between 1722 and 1742 when Bach would write The Well-Tempered Clavier to demonstrate a technique allied equal temperament, which meant that all adjacent notes will have an identical frequency ratio, and doing so in all 24 major and minor keys.Due to this, most classically trained pianists can find their way between an F# and a b, which are two different notes although they are the same inharmoniously. Indeed, after his death, Beethoven called Bach the original father of harmony'(Schuster, 1903). After the passing of Bach in 1750, six years later a boy would be born also in Germany, and Just like Bach, have his first name given to the son of rock legend Eddie an Helen, and his middle name the title of a cult movie: Wolfgang Amadeus Mozart.Although widely regarded as someone from the classical era as opposed to Baroque as in the case of Bach, Mozart came from similar beginnings: his father was too a famous violinist. However, unlike Bach, Mozart needed not receive any musical e ducation; he was spotted as prodigy early on by his father at the tender age of 3, and already writing simple compositions by the age of 5. Along with his sister Maria Anna, nicknamed Manner, Mozart and family would travel across Europe to play in courts to the audience of several noblemen. Indeed, a particular influence on the puns Mozart would be to see one Johann Christian Bach, the youngest son of Johann Sebastian Bach, whom he met in London in 1764 and 1765. Touring back then was even more difficult than in todays time, as they constantly had to wait for reimbursement from the nobility as well as near-fatal illnesses that struck both the children as well as father Leopold. After returning from Italy on March 1773, Mozart, No had by now composed several operas, soon found appointment in the Salisbury court by employment of ruler Prince-Archbishop Hieronymus Colored.It was here hat Mozart developed some of his best works: five violin concertos, the only ones he aver wrote, as well as a K. 271, a piano concerto considered by many to be trade there as well as Paris, it would not be until his move to Vienna in 1781 after a falling out with his employer Archbishop Colored that Mozart would become the composer we know of him as today. This move is the revolutionary step i n his career, as well as his life (Solomon, 1995). He soon immersed himself in the works of Johann Sebastian Bach and George Frederic Handel, due to Gottfried van Sweeties owning many manuscripts of Baroque maestros. Needless to say, his knowledge of these pieces of work along with his prodigious skills made him a remarkably famous and successful composer, which in turn led him to becoming a Freemason in 1784. Towards the end of his life, Mozart returned to writing operas, writing the masterpieces The Marriage of Figaro and Don Giovanni before the Status-Turkish Near hindered his career. Indeed, a young Beethoven spent several weeks in Vienna hoping to study with him, although no records indicate that the two ever met. Alas, Mozart would fall ill on 6 September 1791 and die almost exactly 3 months later, on 5December at the age of 35. Nevertheless, when one door closes, another opens. This came in the form of a Polish composer by the name of FRRdrich Francis Chopin. Like Mozart, Chopin too Nas a prodigy, and likewise also received musical training from not only his father ho was a flautist and violinist, but also his mother who played the piano. Unlike Mozart, he did receive musical education from Czech composer Which Zany. Just like his predecessors, he started his career at the age of 7 by giving public concerts, before becoming a playmate to the son of Grand Duke Constantine, the RussianPoland ruler. By the autumn of 1826, Chopin began studies under the wing of composer JÂ ¶kef Lesser at the Warsaw Conservatory. Three years later, he would be premiering his Variations on L CIA dared la mono, Pop. 2 which is a variation of a theme from Mozart aforementioned Don Giovanni. The difference between Chopin and his virtuoso predecessors is that his income from teaching and composing allowed him to be financially independent of concert-giving, something Mozart and Bach were not so lucky to have. After leaving Poland for the very last time in 1831,Chopin became a French citizen and firmly established himself as one of Rupees premiere piano players and composers, playing pieces by Bach, Mozart, Beethoven, Schubert, and also his ow n. Combining elements of his traditional Polish folk music as well as from the composers above, Chopin ushered in a new age of music: the Romantic period. Alas, Just like many greats before and after him, Chopping health, Inch was already known to be very poorly since a very young age, deteriorated very quickly. On 17th October 1849, Chopin passed away with his sister Ludwig by his side.His cause of death has been thought to be tuberculosis, although it is debatable; it has since simply been known as Chopping disease. She then removed his heart and placed it in an urn, which is now interred in Warsaw Holy Cross church. It should be noted that his funeral was a grand affair, with entrance being restricted to ticket holders, as well as Mozart Requiem being Chopin was known for employing a rubout style of playing into his work, a style that Nas also prevalent in the works of Mozart before him.Fellow Romantic era composer Robert Schumann also noted that Chopin had a strong sense of Polish nationalism in IM; he once said in a review of Chopping concertos in 1836 that Now that the Poles are in deep mourning [after the failure of the 1830 rising], their appeal to us artists is even stronger if the mighty autocrat in the north [I. E. Tsar Alexander l] could know that in Chopping works, in the simple strains of his mazurka, there lurks a dangerous enemy, he would place a ban on his music. Chopping works are cannon buried in flowers! (Schumann, 1988).Last but not least, the composer who is considered to have bridged the gap between late 19th century and early 20th century Western classical music: Claude Debussy. Along with fellow composer Maurice Ravel, Debussy was one of the most prominent and influential composers of Impressionist music. Hailing from France, Debussy is the only one of the four composers Vie mentioned that came from a non-musical background; his father owned a shop which sold china and crockery, and his mother Nas a seamstress. He began taking violin lessons at the age of seven, who in turn drew the attention of supposed Chopin student Marie Matt De Belleville. At the age of 10, he enrolled in the Paris Conservatoire, where he spent 11 years studying and truck up a friendship with fellow student Isadora Philipp, who after Debussy death Mould be asked for advice on how to play his pieces. Although he played pieces by Beethoven, Schumann and Chopin in public, Debussy did not like to conform to the teachings of the Academy, instead using dissonance techniques and intervals which Newer considered unorthodox. Perhaps much too far ahead for his time, Debussy became very close to the patroness of famous Russian composer Tchaikovsky, who in turn regarded Debussy work as lacking unity.After exposure to late composer Richard Wagers work, he then set about working on his style: a sensory component to his music and striking harmonies. His initial works, including the now famous Claim De Lune, shows his usage of Parthian modal composition as well as scales not usually employed in the style of music in that day and age. His usage of parallel chords, hole -tone and pentatonic scales as well as unprepared modulations would be essential to Jazz music decades later. He also drew inspiration from other forms of art, such as literature and even from something as odd as mathematics.

December 7,1941 essays

December 7,1941 essays On December 7,1941 the U.S. troops stationed on the Island of Pearl Harbor were woken up by the sound of gunfire and explosions. The Japanese attack on Pearl Harbor is one of the worst surprise attacks in American history. For every Japanese soldier killed almost thirty-eight Americans were killed. Japan was at war with China. The American government tried many times with Japans leaders to withdraw troops from china and put an end to the war. After World War II started Japan grew angry with the United States of America because they were helping China by sending them war supplies. Japan didnt like this because China was the main target of Japanese attacks. Japan decided to take a peace trip to the United States of America. This trip took place in November of 1941. During this peace trip Japan made three proposals to the government. These proposals were, to stop helping china, to stay out of Asian affairs, and to begin shipping oil to Japan right away or Japan would attack the United States of America. The president Franklin D. Roosevelt and the government didnt do what the Japanese asked. The Japanese attacked Pearl Harbor because the United States ignored their requests. The attack began at 7:55 A.M. Vice Admiral Chuichi Nagumo led the Japanese forces. The rea son they attacked so early was because admiral Nagumo knew most of the troops would be sleeping. The chief targets were 8 battleships among the 180 American vessels anchored in the harbor. The attacked killed 2,388 people at Pearl Harbor and wounded about 2,000. It destroyed or damaged 21 American ships and more than 300 planes. The Japanese lost 29 aircraft. Some of the ships attacked were the U.S.S. Arizona, The Pennsylvania, The Maryland, and The West Virginia. The wreckage of The Arizona still holds the remains of all the soldiers who died in the explosion.The Japanese lost twenty-nine airplanes in the attack-nine fighters, fiftee...

Security Design Essay Example | Topics and Well Written Essays - 750 words

Security Design - Essay Example identified were an inappropriate use of emails in the communication of sensitive business information, the connection of public data, and confidential business information to the same physical network. Improper storing of private data that were only to be found on the servers by the end users and transmission some sensitive business information between servers and clients. For the proper communications of these findings, some policies were formed up by WWTC in the areas. These plans comprised of internet connectivity that was to be separated by the network, classified system; this ensures physical security to prevent any unauthorized access to the detailed information. The other policy introduced was a wide area network. The system made sure that any data that cross wide area network link has to undergo a protection section such as the virtual private network (Berger, 2012). Public servers was another policy initiated, this ensured that configuration of all public servers using Hypertext transfer protocol system connections and acceptance of all valid requests and pass them through the firewall. Site-to-site virtual private network tunnels were also among the policies that were put in place through the findings enabling mutual authentication and protection to all provided devices (Bansal, 2015). WWTC ended the plans with user education whereby they created awareness and training programs on threats and good security practices. Recommendations gave some deliverables on the general approach that the project may take. Among the recommendations pointed out were The protection of valuable assets of the company, determination of general architecture of the organization and development of a list of specific policies that could be applied and along with the rationale. Specific details must be written. Selection of the 12 relevant procedures for the addition in the Security Policy Document has to be reviewed in the written policies (Bansal, 2015). Attacks were classified

Case 4-1 McDonald's Great Britain -The Turnaround Study

4-1 McDonald's Great Britain -The Turnaround - Case Study Example There was a further fall in McDonald’s UK’s sales in 2005 alongside those of other European McDonald’s outlets. In 2007, the company’s sales went up by 4.6 percent and it increased its market share. Inadequate localization, negative perception, and competition are some of the reasons for McDonald’s UK lagging behind. The most critical problem confronting McDonald’s UK is inadequate localization. This manifests in the way its Britain customers were repulsed by its use of the red color on its company logo. The second most critical problem facing McDonald’s UK is negative perception and the Greenpeace lawsuit, low quality food, lack of variety on its menu and the low pay that the company offers its employees are responsible for the company’s negative perception. The least critical problem facing McDonald’s UK is competition. Some emerging coffee shops are competing with McDonald’s UK and other fast food businesses are offering more variety for what is considered healthy foods by Britain’s customers (Krishna & Chaudhuri 658). Question 2: Some problems you identified in Question 1 may require a â€Å"quick fix† in the short run, while others may require a major shift in company strategy. Assuming that you cannot focus on all the problems at once, suggest the order in which the issues should be addressed and suggest an approach to solving each problem. The problem of competition that is confronting McDonald’s UK is one that needs a quick fix. McDonald’s UK has the capacity to liaise with its parent firm to offer coffee as a primary item in its menu. Its initiative to introduce freshly ground Kenco beans suffices to introduce a coffee brand that is unique. The problem of negative perception should be the second problem that McDonald’s UK should address. The company can address this problem by making peace with Greenpeace activists in order to reassure the Britons that it takes responsibility for its mistakes. The problem of