Burning Chrome An Analysis

Mobile Phone and Skype Users Essay

1. Portray nature in which Skype contends dependent on the three qualities of innovative markets (Chapter 1). Skype contends in the Internet communication showcase, which gives voice-over-internetprotocol (VOIP) administrations to clients. This permits clients to introduce the product on their PCs and make call through the Internet for nothing. Skype makes little charges for per-minute calls to landlines and cell phones. The three regular attributes of innovative markets are 1) advertise vulnerability; 2) mechanical vulnerability and 3) serious unpredictability. 1) Market vulnerability a) The clients are unsure about the security and potential vulnerabilities uncovered by the Skype framework. Clients question the dependability of the framework. It is frequently not utilized for making crisis cases or exceptionally significant issues like calling the rescue vehicle or police. b) There exist distinctive VOIP stages. There is stage reliance, where just Skype clients can make calls to clients who are utilizing the Skype stage. c) Users move in group conduct and there is expanding ubiquity in utilizing social stage like MSN envoy, which additionally gives VOIP administration. In this manner there is a move of clients to increasingly well known stage. 2) Technological vulnerability a) Windows update caused potential glitch in the framework. This made power outages clients, which caused lost of trust in the Skype framework. b) Users questioned the protection security of the framework, which could be meddled by obscure outsiders calling utilizing Skype. c) Users can without much of a stretch mask themselves and misrepresent their characters when enlisting to utilize the stage. Subsequently unregulated participation expands the ascent of abusing the innovation for wrongdoings. 3) Competitive Volatility a) There is an expanding direct rivalry from huge contenders, for example, Yahoo, MSN and Google. These players have occupied Skype clients as this free voice-correspondence over the net is coordinated into every one of the social stage. As the system increases, a portion of these administrations may use income model of Skype by adding esteem added administration to call clients via landlines and cell phones and give it to free. b) The rising prevalence in the utilization of Iphone additionally implies there is an expansion of other free calling administrations gave by Tango and Facetime and so forth these stage give the capacity to clients to helpfully call utilizing their telephone or contraptions like Ipad.

Playwrights Essay Samples The Past And Present

Playwright's Essay Samples The Past And PresentIt is clear that many of us have some ideas about how to write an essay sample. After all, you have seen them countless times in the news and books and also read about them in the phone book. It makes sense to think about how to write a sample, but it seems clear that we don't know all of the answers. Which playwright whose essay samples the past and present is right for you?One of the first things that comes to mind when we discuss playwrights who have written on their past is their age. That is because most people like to imagine them as grown-ups in the past. In actuality, the plays of most playwrights were written before they could vote or drink. The characters and dialogue are set in a time when most of us can't vote or drink. Therefore, their focus is firmly on life as it was in the past and not on how it feels to be a grown-up today.Another thing that is common with the playwright whose essay samples the past and present is their focus on the human spirit. In fact, those traits that make the human spirit so powerful are what create the dialogues that are filled with humor and passion. Take, for example, William Shakespeare's 'Hamlet' as interpreted by Richard Donner in the movie version starring Tom Hanks.The playwright whose essay samples the past and present might add that Hamlet, who is guilty of murder, has committed what may seem to be a senseless act. However, his loyalty to the prince Polonius and his loyalty to Polonius' son in general outweighs his guilt and the damage he has done. It also puts him above Polonius.That's one example of playwright whose essay samples the past and present. Now that you have an idea of what to expect, you can move on to the next step. Which playwright whose essay samples the past and present is right for you?Let's start by thinking about the level of interest in history and present day events. Some playwrights have been working in this genre, since they were in high sch ool. Other playwrights have been writing for decades. In fact, there are playwrights who have spent more than half of their life as playwrights, such as Gregory Maguire and Nell Zink.When you are looking for playwright whose essay samples the past and present, make sure that you are taking the time to figure out who will be interested in your work. As you read the essays of playwrights, find out what type of audience you will be writing for. You might want to consider how you would be able to convey your thoughts on these issues in the essay and how it will impact the reader's thinking about the same issues.Ultimately, you want to be able to tell a story in a way that will encourage your audience to explore their own experiences and thoughts. This is why you need to decide the needs of your audience and find the best way to communicate them to them.

Globalization Effects on Jamaica and Thailand Essay

Globalization Effects on Jamaica and Thailand Introduction Globalization through dam building (for electricity) and tourism (for economic security), has imposed positive and negative effects on many countries and cultures. This paper focuses on tourisms impact on Jamaica and the consequences dams have had in Thailand. For both countries globalization has had both advantages and disadvantages. Tourisms Effect on Jamaica Globalization through tourism has had a significant effect on Jamaica. Originally, tourism was intended to profit the country by tourist spending. It was believed the economy would grow from an increase in job availability. Also, the conjecture of most Jamaicans was the hotels generated tourist spending†¦show more content†¦Although there were advantages for the Thailand people, for many Thai it has had more negative than positive effects. â€Å"Major Challenges in balancing the benefits of clean electricity, water storage and flood control from the dams against negative impacts. These include population displacement, obstruction to fish movements up and down the river, and changes in water and sediment flow†. (Richardson, Michael 2009). The disadvantages began to out way the advantages. Building of Pac Moon Dam and other Dams have affected Thailand in several other adverse methods. It severely decreased fish up to 60%. â€Å"Accord ing to the Foundation for Ecological Recovery, the rivers fishing industry alone is worth up to 3 billion annually, and the existing dams are already decreasing that profit.† (Blake, Haley 2009). Whole species became extinct. The river had 50 different rapids that flowed with river dependent fish. Riverbank vegetation, Bamboo, and mushrooms began to disappear. Liver fluke, Blood fluke, and Schistosomiasis increased due to stagnant water. Villagers were dependent on income generated from fish, bamboo and mushrooms. Food and income deteriorated. Many Villagers moved away. Their lives and livelihood depended on the river. The people of Pac Moon Dam had already experienced the ill ecosystem change from past dams built as expressed inShow MoreRelatedThe Economic Development Of A Nation1852 Words   |  8 Pagesconstrains the development of the economy moreover. As Primaria is a developing nation there are numerous regions we can work to pull the economy and also the gene ral development of the country. The foreign investment in the nation can have a major effect on the economy. 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The information technology revolution has made it very difficult for governments to control cross-border capital movements, even if they have political incentives to do so. Governments can still restrict the multinationalization ofRead MoreThe Airline Industry: Facing The Challenges Of The 21st Century20678 Words   |  83 PagesInformation Booklet Series III October 2004 GLOBAL THINKING RESEARCH DEVELOPMENT 2 TABLE OF CONTENTS INTRODUCTION.....................................................................................................................3 AIR JAMAICA AND GOVERNMENT SPENDING..............................................................4 SOCIAL AND LABOUR CONSEQUENCES IN THE 21ST CENTURY TRANSPORT INDUSTRY .........................................................................................

A Survey of Tragedy - 984 Words

A Survey of Tragedy A modern tragedy of today and a tragedy of ancient Greece are two very different concepts, but ironically, both are linked by many similarities. In â€Å"Poetics†, Aristotle defines and outlines tragedy for theatre in a way that displays his genius, but raises questions and creates controversy. Aristotle’s famous definition of tragedy states: â€Å"A tragedy is the imitation of an action that is serious, and also as having magnitude, complete in itself in language with pleasurable accessories, each kind brought in separately in the parts of the work; in a dramatic, not in a narrative form: with incidents arousing pity and fear; wherewith to accomplish its catharsis of such emotions.† I believe Aristotle’s meaning of â€Å"Imitate†Ã¢â‚¬ ¦show more content†¦In â€Å"Oedipus the King†, Sophocles’ characterization of the protagonist is in near perfect compliance with the traits Aristotle outlined in â€Å"Poetics†. In the first scene, the foundation is laid showing King Oedipus as a good and kind King. He speaks with the city elder, showing his compassion and promising to relieve the city of Thebes of a plague. As the story line plays out, Oedipus’s character flaws of anger and compulsiveness begin to appear. These defects force the king into situations he would have be en better to avoid, including his own fate death or banishment. When an Oracle reveals the prophecy that Oedipus will kill his father and marry his mother, Oedipus leaves his comfortable life with King Polybus of Corinth and his wife Merope, who he believes are his biological parents. On his way to the city of Thebes, Oedipus kills a stranger on the road who turns out to be Laius, King of Thebes and unbeknownst to him, his biological father. When Oedipus arrives in Thebes he saves the city from the curse of the Sphinx, as a result is made King and marries the dead King’s Queen, Jocasta, his mother, thus fulfilling the prophecy. Oedipus is a victim of his own destiny and despite doing everything right; there’s nothing he could have done that would have changed his life. Studying â€Å"Oedipus the King† and â€Å"Death of a Salesman†, playsShow MoreRelatedEugene O’neill and the the Rebirth of Tragedy a Comparative Survey on Mourning Becomes Elect ra and Oresteia2317 Words   |  10 Pagesadmirer of classical theatre and as a young man he had read Friedrich Nietzsche’s work about the origin of Greek tragedy, in consequence he was very familiar with the subject and the techniques of representation. The ideas of the German critique and philosopher guided his dramatic works, in which he manifested the ability to adapt the defining characteristics of the classical tragedy to a modern script and audience. Thus, it is not surprising that we encounter God Dionysus in â€Å"Lazarus Laughed† (1928)Read MoreThe Tragedy Of Hurricane Katrina Essay1599 Words   |  7 PagesMass tragedies occur on a daily basis in almost every nook and cranny of the world. No matter the severity, they all appear to have a similar effect: deterioration of mental health stability among those involved. Children and adults alike possess the risk of suffering from mental disorders, such as depression and PTSD, following exposure to a traumatic event. However, the circumstances of these events differ, simply because not all mass tragedies are the same. No matter what type of event occursRead MoreBlack And White: The Reason Why Gun Control Debate Fails 1457 Words   |  6 PagesGun control has been being a controversial topic for many years that people try to discuss about it. This issue has become more serious because of many recent tragedies have been happened in the US, and the main reason of those tragedies is lack of control. For example, tragedies in Newtown or Colorado, which everybody has known, took away many lives of innocent children and adults. That is why American citizens think that guns are dangerous and should be banned. However, there are some problem ofRead MoreExposure to Tragedy in Sophocles Oedipus the King702 Words   |  3 Pagesbackground influenced him to write the drama Oedipus the king. One important influence on the story was his exposer to tragedy all around him. Jeffrey buller in â€Å"So phocles† told us that Sophocles learned the art form of tragedy from Aeschylus. Sophocles later went to the Great Dionysus a competition for the greatest tragedy and won first place over Aeschylus. Also, Sophocles shows tragedy in the play by telling us about the legend the heard while he grew up (Buller 2-4).Similarly, Oedipus in â€Å"OedipusRead More Othello, The Moor of Venice Essay examples1319 Words   |  6 PagesOthello, the Moor of Venice is one of the major tragedies written by William Shakespeare that follows the main character, Othello through his trials and tribulations. Othello, the Moor of Venice is similar to William Shakespeare’s other tragedies and follows a set of specific rules of drama. The requirements include, following the definition of a tragedy, definition of tragic hero, containing a reversal of fortune, and a descent from happiness. 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Some individual even suggestedRead MoreCause Effect of Binge Drinking Essay1247 Words   |  5 Pagesfrat or sorority houses or dorms, as opposed to living off campus.† CSPI, a survey conducted by Harvard University’s School of Public Health, found that 44% of U.S. college students who took their survey had participated in binge drinking two weeks prior to the survey; 51% of the males drank five or more drinks in a row and 40% of the women drank four or more drinks in a row. The same Ha rvard School of Public Health survey showed that, the percent of binge drinkers was almost uniform from freshmanRead MoreThe Role of Mercutio in Romeo and Juliet Essay examples528 Words   |  3 PagesRomeo to kill Tybalt, which in turn, leads to his exile and eventual death. Romeo says in line 135 of the same scene, O, I am fortunes fool. Mercutio was correct in his predictions. The love between Romeo and Juliet ends up a tragedy for both families. Mercutios character is essential in driving the action forward in this play. He foreshadows the devastating events, serves as Romeos friend, and gives the audience important information throughout the play. Mercutios

Cultural Diversity Racial Disparity in the Essay Example For Students

Cultural Diversity: Racial Disparity in the Essay Cultural Diversity: Racial Disparity in the Essay Application of the Death Penalty The death penalty is one of the most controversial issues on American soil, surpassed only by those condemned to the wages of this irrefutable sin. Minorities such as African-Americans and Hispanics, aggregate this continuous barrage of discrimination. Follow along, and rediscover capital punishment from a black writers point of view. Blacks are more likely to face the death penalty than whites in the commission of identical crimes. Governmental murders are alive and well in the good ole USA. The history of capital punishment dates back to the days before Christ. The Old Testament adage an eye for an eye, and a tooth for a tooth, has survived throughout the ages despite the New Testaments rendition of thou shall not kill. Todays American victims endure a more demure of style of cruel and unusual punishment; death by lethal injection has been selected to replaced barbaric traditions of the past. Statistics prove that for many years the death penalty has fallen disproportionately on racial minorities in the United States. For example, since 1930 nearly 90% of those executed for the crime of rape in this country were African-Americans, and currently, about 50% of those on the nations death rows are from minority populations representing only 20% of this countrys population. Nearly 40% of those executed since 1976 have been black, even though blacks constitute only 12% of the population. And in almost every death penalty case, the race of the victim is white. Of the 229 executions that have occurred since the death penalty was reinstated, only one has involved a white defendant for the murder of a black person (Race and the Death Penalty, 2003). Does this mean that minorities are inherently criminals, or is there an undercurrent of racial segregation affecting the views of the majority in our society? T.V. shows, such as Cops, often depict persons of color as the criminal element, reinforcing the myth that minorities are to be feared. Blacks are sentenced to jail and the death penalty more often that any other minority in America. As the national inmate population has increased in recent decades, the impact of these changes on minority communities has been particularly dramatic. Two-thirds of the people in prison are now racial and ethnic minorities, and for black males in their twenties, one in every eight is in prison or jail on any given day. Moreover, black males born today have a one in three chance of going to prison during their lifetime, compared to a one in seventeen chance for white males. These trends have been exacerbated by the impact of the ;war on drugs,; with three-fourths of all drug offenders being persons of color, far out of proportion to their share of drug users in society (The Sentencing Project: Racial Disparities in the Criminal Justice System, 2004). Racial disparity in the criminal justice system is a product of a number of factors -crime, offenses such drugs, social and economic disparities, legislative policies, and the use of discretion by the criminal justice system. Social and economic disparities have faces and many are of color. African-Americans are more likely than others to have social histories that include poverty, exposure to neighborhood violence, and exposure to crime-prone role models. For example, African-American children with no prior admissions to the juvenile justice system were six times more likely to be incarcerated in a public facility than white children with the same background that were charged with the same offense. A major study sponsored by the Department of Justice in the early 1980s noted that juvenile justice system processing appears to be counterproductive, placing minority children at a disproportionately greater risk of subsequent incarceration (Deadly Statistics: A Survey of Crime and Punishment, 2000). This writers grandmother retired after more than thirty years as a welfare social worker for Los Angeles County. She has stated on more than occasion that the government is the main reason that most black men are in jail awaiting the death penalty today. In the sixties and earl y seventies, she says that women on welfare were not allowed to have men in the home, even the father of the .

My MGB-GT free essay sample

When the engine turned over, and the soft purr of a newborn coupe filled the garage, the child of my high school determination came to life. My 1970 MGB-GT, a British sports car, was no longer a work in progress. It stood as a completed monument for all the jammed fingers, grease stained shirts, and cold Sunday afternoons spent working in the garage. As the fragrant scent of fresh exhaust filled my lungs, I could think of nothing but the beauty of my creation. Since then I have had time to think back to the day I purchased my MGB-GT. I remember sliding my fingers down the shapely front fender, feeling the rust bubbling up from under the fading paint. The oil slick left by this poor car was visible through the once-solid floor pan, and I began to consider the possibilities. I knew it would cost all my money, but I couldn’t let this opportunity slip away. We will write a custom essay sample on My MGB-GT or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Under an unexplainable stupor, possibly caused by the fumes of rancid gasoline, I made an offer and purchased my MGB-GT. As a freshman, I had no idea how my commitment to $400 worth of oxidizing metal would impact my development during high school. Even less did I realize how the GT’s reincarnation would reveal a possible vocation. At the time, with a shortage of experience and an abundance of enthusiasm, I simply went to work. There were some slow times during the rebuilding. Certain repetitive tasks kept visible progress out of reach and pushed my endurance to the limit. No more is this true than when I spent weeks drilling out hundreds of spot welds, with nothing to show for it except countless quarter inch holes and two dull drill bits. It was at these times, when frustration bordered on despair, that determination was the best motivator. These months in the garage, with a picture of the completed project in my mind, taught me the self-discipline I now apply to my daily life. My GT was rising from the ashes as I entered junior year. All welding was completed, and the car was awaiting paint. Fortunately, my dad had experience and offered to help. Input from many different places had to come together before my project could be completed. And even though I was the one asking the questions and making the decisions, other people made huge contributions. At every car show or British Motor Club meeting, some MGB expert would divulge a tidbit of information, propelling me a step closer to my eventual goal. Since I started reconstructing my GT, the interdependence of society has emerged paramount in my mind. My time spent working on my GT made me realize my passion for mechanical engineering. My technical knowledge was meager going into the project, so I had to spend many hours studying manuals and chatting on forums. Despite this, restoring my car was fun. Little is more enjoyable than putting something together with my hands, studying how different parts should move and interact, and then stepping back and seeing if my creation will work as designed. There is no greater reward than watching an object work correctly. However, it is the objects that rebel against my will malfunctioning carburetors and short-circuiting starters that stimulate my thought process and draw me closer to a career in engineering. At the time the engine first fired up, none of this came to mind. I had not realized the impact my determination had on my academic life, or how interdependence gave me a new view of society. And I did not yet know if my interest in mechanical objects was simply a hobby or a potential future profession. The car was simply a massive experience; one that I had not yet had time to think about. And for this reason, I was content to sit in the reverberating silence, feeling the soft purr of my MGB-GT.

Spanish Vocabulary of Air Travel

Spanish Vocabulary of Air Travel Unless you live near the right international border, theres no quicker way to visit a Spanish-speaking country than to fly. And even though English is widely spoken in international travel, it is likely that your first encounter with Spanish on a vacation or business trip will be on the plane or at the airport. Study these words and phrases before you go on your trip and youll better be able to take care of your travel needs or to eavesdrop: Useful words la aduana - customsla aerolà ­nea - airlineel aeropuerto - airportla almohada - pillowel asiento - seatel auxiliar de vuelo, la azafata - flight attendantel avià ³n - airplaneel boleto - ticketel baà ±o - bathroomla clase ejecutiva, la clase turista - executive class, tourist classla comida - mealconfirmar una reservacià ³n - to confirm a reservationel destino - destinationel equipaje - luggageel horario, el itinerario - schedulela linea aerea - airlinela maleta - suitcasela oferta - special, saleel pasajero, la pasajera - passengerel pasaporte - passportla primera clase - first classel regreso - returnla reserva, la reservacià ³n - reservationla salida - departure, exitla tarifa - pricela tienda libre de impuestos - duty-free shopel viaje - journey, tripel vuelo - flight, wing Useful phrases:  ¿Cundo sale el avià ³n? - When does the plane leave? ¿Cundo llega el avià ³n? - When does the plane arrive? ¿Dà ³nde est el baà ±o? - Where is the bathroom? ¿Habla usted inglà ©s? - Do you speak English?

Average Salary Guide How Much Do Pharmacists Make

Average Salary Guide How Much Do Pharmacists Make SAT / ACT Prep Online Guides and Tips Thinking about becoming a pharmacist? Or maybe you’re just wondering how much the person filling your prescriptions is making? How much does a pharmacist make? We have all answer all of your questions about pharmacist pay! In this guide, we go over average pharmacist salary overall and in each of the 50 states.To help put these numbers into context, we also explain what factors affect pharmacist salary, why pharmacists make so much, what work they do, and how you can become a pharmacist yourself. What Is the Average Pharmacist Salary? How much does a pharmacist make each year? According to the US Bureau of Labor Statistics, the average pharmacist in the US earned an annual salary of $120,270 in 2016, or about $57.82 an hour. The chart below (from the US Dept of Labor) shows the percentile wage estimates for pharmacists in 2016 so you can get a better idea of the range of pharmacist salaries. Percentile 10% 25% 50% (Median) 75% 90% Annual Wage $87,120 $109,400 $122,230 $138,920 $157,950 There are several factors that determine how much a specific pharmacist makes. Experience: Pharmacists who have worked in the profession longer make more money than pharmacists just starting out, since more experienced pharmacists typically have more responsibilities and expertise. Geographic Location: Some parts of the country have a higher average pharmacist salary than others. We discuss this more in the next section. Employer Type: The type of pharmacy job you have will also affect your pay. Pharmacists at mail-order pharmacies had the lowest annual salary (average salary $7,000) while clinical pharmacists were, on average the highest paid ($128,000). Retail pharmacists generally earn less than pharmacists working in hospitals or other clinical settings. How Much Do Pharmacists Make a Year in Each State? Depending on which part of the country you live in, you might be making more or less than the national pharmacist salary. Below is a chart showing the average annual salary for pharmacists in each of the 50 states, as well as Washington D.C. This data comes from the United States Department of Labor’s Occupational Employment Statistics for 2016. You can use this chart to get a better idea of what the average pharmacist salary is in the state where you live or would like to live. State Average Annual Salary in 2016 Alabama $120,000 Alaska $138,000 Arizona $9,000 Arkansas $7,000 California $136,000 Colorado $8,000 Connecticut $121,000 Delaware $8,000 Florida $8,000 Georgia $6,000 Hawaii $5,000 Idaho $6,000 Illinois $7,000 Indiana $7,000 Iowa $0,000 Kansas $9,000 Kentucky $122,000 Louisiana $3,000 Maine $123,000 Maryland $120,000 Massachusetts $131,000 Michigan $5,000 Minnesota $123,000 Mississippi $121,000 Missouri $121,000 Montana $2,000 Nebraska $109,000 Nevada $123,000 New Hampshire $129,000 New Jersey $7,000 New Mexico $120,000 New York $9,000 North Carolina $121,000 North Dakota $3,000 Ohio $5,000 Oklahoma $121,000 Oregon $123,000 Pennsylvania $4,000 Rhode Island $2,000 South Carolina $123,000 South Dakota $2,000 Tennessee $120,000 Texas $124,000 Utah $3,000 Vermont $128,000 Virginia $9,000 Washington $124,000 Washington D.C. $121,000 West Virginia $8,000 Wisconsin $124,000 Wyoming $6,000 As you can see from the chart, the average annual salary for pharmacists ranges from $109,000 (Nebraska) to $138,000 (Alaska). Differences among states in average pharmacist salaries can be due to multiple factors, including cost of living, demand for pharmacists, and where the pharmacists are employed. Why Are Pharmacist Salaries So High? Now you know that most pharmacists are bringing in six figures a year. Why is pharmacist pay so high? There are three main reasons: Lots of Schooling Required As you’ll see in the next section, you can’t wake up one day and decide to start applying to pharmacist jobs. You’ll need a bachelor’s degree as well as a PharmD degree. For most people, this means eight years of university and graduate-level schooling, and the high level of education required for pharmacists contributes to the high salary. Requires Specialized Knowledge and Attention to Detail To be a pharmacist, you must have a lot of knowledge specific to the field, and you must also have a high attention to detail. Pharmacists spend much of their time preparing and dispensing medication, and if they make a mistake, it can literally affect other people’s lives. Therefore, they must always be careful when they are working. Additionally, many pharmacists are balancing multiple duties and many clients/customers which can cause a hectic work schedule. Because the work pharmacists do is so important, and because they are the only ones who can do it, they have a high average salary. High Demand for Pharmacists Another reason pharmacists make so much is that there is a high demand for pharmacists in many parts of the country. As the population gets older and healthcare expands, more people need the services pharmacists provide, which drives up demand. The number of pharmacists in the country is fairly small, so some employers will often offer higher salaries in order to entice pharmacists to work for them. What Do Pharmacists Do? So, what exactly do pharmacists do? It’s far more than just dispensing pills. A pharmacist’s work depends a lot on the specific field they’re in, although all pharmacist jobs involve understanding the impacts and potential risks of different medications. There are three main types of pharmacists: Retail pharmacists spend a majority of their time processing and filling prescriptions, interacting with customers, and watching for potential side effects and interactions of the drugs they prescribe. Clinical pharmacists typically work in hospitals or other medical settings, and a lot of their duties involve working directly with medical professionals and patients, either by choosing which medications to prescribe for a patient, monitoring patients, and other additional duties. Research pharmacists usually work for drug companies, although they can also work for government agencies or universities. They spend the majority of their time developing new medications and conducting drug studies. How Can You Become a Pharmacist? In order to become a pharmacist and start making the big bucks, it’ll take several years of schooling and hard work. Below are the four main steps you need to complete to become a pharmacist. #1: Take the PCAT To begin your applications and get the ball rolling, you’ll need to take the PCAT (Pharmacy College Admission Test), a standardized test for pharmacy school admissions, and submit your scores as part of your application. Not every pharmacy school requires PCAT scores, but most of them do. #2: Get Admitted to a PharmD Program The next step to becoming a pharmacist is being accepted into a Doctor of Pharmacy (PharmD) program. You’ll need a Bachelor's degree to apply. Most of the time, your degree doesn’t need to be in a specific field, but you’ll need to have certain prerequisite classes (usually two years worth) completed before you’ll be admitted, and you have a better chance of already having taken them if you majored in a science as an undergrad. The prerequisites required vary by program, but often include chemistry, biology, physics, and statistics. It’s also possible to get accepted into an accelerated PharmD program while you’re in high school. In this case, you’ll complete your undergraduate degree and PharmD degree in a total of six years. It’s worth noting though, that these programs are not very common, and they’re very competitive to get into. #3: Complete the PharmD Program It typically takes four years to complete PharmD school, which means most people are in school for eight years to become a pharmacist (four years of undergraduate + four years of PharmD school). A few pharmacy schools do have accelerated programs that allow you to complete PharmD school in three years. Even if you already have a graduate degree, even one in the sciences it’ll likely still take you four years to complete PharmD school since the course requirements are very specific to the program. At PharmD school, you’ll take courses that will teach you everything you need to know about becoming a pharmacist. Many programs also allow you to specialize in a specific area of pharmaceutical sciences such as clinical pharmacology or rural pharmacy services. You’ll also get hands-on experience through internships, rotations, and/or work placements during your time in PharmD school. #4: Get Licensed as a Pharmacist After you’ve completed PharmD school, you still need to get licensed before you can work as a pharmacist. Licenses are issued by individual states, so each state has its own requirements. However, most of them are follow the same basic set of guidelines. In every state, you’ll need to pass the NAPLEX (North American Pharmacist Licensure Examination), and most states require you to pass the Multistate Pharmacy Jurisprudence Exam (MPJE) as well. Your state may also have additional requirements, such as other tests you must pass, a certain number of practical hours you need to complete and/or consenting to a criminal background check. Once you’ve completed all of your state’s requirements, you’re able to begin working as a pharmacist! Review: How Much Do Pharmacists Make, Really? So, how much does a pharmacist make? The average pharmacist salary in the US is $120,270. A pharmacist’s salary depends on multiple factors, such as where they live, the type of pharmacy work they do, and how many years of experience they have. Pharmacists living in different parts of the country have different average salaries. Pharmacist pay is so high because pharmacists must attend fours years of PharmD school in addition to undergrad coursework, the profession requires specific expertise and a variety of skills, and because demand for pharmacists is growing. In order to become a pharmacist, you’ll need to: Have a Bachelor degree Complete the necessary prereqs for the program(s) you’re applying to Take the PCAT Complete (typically four years of) PharmD school Become certified (usually by passing the NAPLEX and MPJE exams)

Worlds Leading Construction and Infrastructure Development of Balfour Assignment

Worlds Leading Construction and Infrastructure Development of Balfour Beatty - Assignment Example The analysis of Michel Porter’s five forces helps to increase the market value of the firm. These five forces would enable the company to have the insight of the competitors, and how the suppliers and rivals would affect Balfour Beatty to establish itself in Turkey’s infrastructure development industry. There is intense competition in the infrastructure development industry of Turkey. The customers of infrastructure development industry in Turkey especially the elite class are highly conscious about the quality of infrastructure provided to them and the risks involved within. Therefore; a number of infrastructure development companies are competing in the industry to provide better services to the customers. Although these rivals have a significant market share in the industry, Balfour Beatty has the potential to become one of the finest infrastructure providers all around Turkey due to their remarkable performance in the United Kingdom, United States, United Arab Emirates and other prominent countries of the world. It has created a market niche by providing product differentiation to its users. It is also using a low medium pricing strategy, which would help the company to compete easily in Turkey’s infrastructure development industry. A number of international infrastructure development companies are entering in Turkey, as a huge potential has been seen in this country and the economic development in recent years has been phenomenal. These new entrants possess a lot of potentials to become a threat to the local infrastructure development companies as they have an established name in foreign markets. Balfour Beatty already has established brand loyalty throughout the countries in which operates. These all factors depict a positive aspect and will help to lessen the entry barriers for the company to launch its operational activities in Turkey.

Planning For Wealth, Retirement and the Great Beyond Case Study

Planning For Wealth, Retirement and the Great Beyond - Case Study Example as specified in the case study of the family is inclusive of the registered retirement savings plan of 650,000 dollars as well as the 150,000 dollars that are unused in the registered retirement savings plan. The market value of the home is estimated to be 900,000 dollars .the value is considered to inflate in the future (Roseman 2002). The investment advisor is expected to help in working out a realistic plan that will enable achievement of the goals pertaining to the long term investments. The realization now is that it will be hard to rely on the Old Age Security or the Canada Pension Plan or the employers Pension Plan to meet the expenses that emerge after the retirement. With that in mind, the time to build an investment portfolio that will help manage and support the life after retirement would be now. Having a trust company is a benefit especially when the company is the executor or the trustee (Currie, Chambers, and Brown 2001). When determining the personal asset, a variety of assets may be considered. For instance in the case presented, the family owns a home that is valued at 900,000dollars that is expected to inflate, they also own investments ranging from the real to non real that are worth a lot of money. The spouse also has an investment that will pay later. The expense that incurred includes the 90,000 dollars annual expenses and the mortgage that will be paid for the next eight years. The investment totals to 2.205 million dollars (Currie, Chambers, and Brown 2001). Having acquired the investment portfolio required, the projections for future income can hence be formulated. For instance, the sources of income after the retirement include the pension plan from the employer. Out of the salary paid, the contribution to the pension plan will be 6 percent... The case presented represents the family of a mature family. The priorities and needs of such a family have changed. This is evidenced by maturity of the children where two of them are in their twenties and have already been employed and the last one is in adolescent, due to Finish University in three years. The issue of guardian ship is not there. This stage is also marked by peak earnings years and accumulation of many considerable assets. This part requires assessing of the financial status, the personal and life goals and needs and also assessing the priorities of life now. This report makes a conclusion that life on earth is not guaranteed. Therefore, once one has died, there is the need for the estate to be managed and the property taken care of. This is the sole purpose of the will. The checklist needed in ascertaining a will includes preparation and signing of the power of attorney for the financial affairs and running of the real estate. According to Gray& budd one needs to ascertain whether the will and the power of attorney are up to date. One needs to take steps to ensure protection of the assets bought in the relationship. The will also entails naming the beneficiaries and the alternate beneficiaries of the registered retirement savings pan, the life insurance policies, the pension plans and RRIFs. These should always be up to date. The will also entails the backup executor and the back up power of attorney. All the dependants should be well provided for.

Delinquent Parents :: essays research papers fc

Delinquent Parents? Gone are the good old days when mom and dad were around to teach their children about morality and the basics of growing up. Instead, we see parents who have replaced caring and personal involvement with the purchase of material goods. We see parents who are afraid to discipline their children and who are afraid to set boundaries. We see parents who are afraid to hug their children and be involved in their lives. A child's behavior shows the kind of home he or she comes from. Parents are suppose to be role models, but what do we find. Parents are neglecting their responsibility. Parents, who ought to teach by precept and example, have fallen prey to the "do as I say, but not as I do" syndrome. We as a society, often times fail to look at the root cause of many of the adolescent problems being witnessed today. I watched a PBS documentary entitled "The Lost Children of Rockdale County." I found this documentary to be very disturbing look into th e lives of middle to upper class youth. Though the focus of the program was sexual promiscuity, drugs, pornography, and alcohol, but what I found far more troubling was the tremendous breakdown that exists between the children of Rockdale County and their parents. This entire documentary was full of houses that were empty and void of supervision and adult presence. Some recent research on adolescent behavior has provided an insight into factors that contribute to juvenile delinquency. The relationships between parents and children play a significant role in the social well being of the children. Children who do the best, have parents who use both a great deal of warmth and caring with their children and also exercise a high level of control over their children's actions. High levels of warmth and control characterize the form of parenting referred to as authoritative. (Teenagers in Trouble, Gallagher, p.2) Authoritative parents are both firm and fair. Rarely did I see this type of p arent in the program. "I thought that if I disciplined you, you would run away" was one comment made by a mother whose daughter had gone on a drinking bing at age twelve, blacked out, and realized she had been raped when she came to. Many of the parents documented were not able to connect with their children and even when they did, they thought that just showing concern was enough.

On Being an Atheist Essay

In this article McCloskey writes what he believes as truth in the world we live in. He states that theists believe in a God and that they have â€Å"proofs† that this God exists. In the article he addresses these â€Å"proofs† and in a very academic and respectful way tears them down. He attempts to eliminate all possibilities of the existence of God, through what he calls â€Å"reasons why I believe that atheism is a much more comfortable belief than theism, and why theist should be miserable just because they are theists.† The first issue that McCloskey references to is the â€Å"proofs† that Christians hold to prove that God exist, but as we learned in one of our PointeCast presentations, the reasons Christians believe in God are not exactly proofs, because they cannot scientifically or in any way prove to a point that God does in fact exist. These reasons are arguments, theories and carefully thought out propositions that try their hardest to justify what we believe in. Because of this McCloskey argues that humans should give up on the notion that God exists, yet since there also no way to prove that God does not exist, McCloskey is defeated by his own logic. So if humans are to give up on both the notion that there is or is not a God, then that leaves us with nothing whatsoever to believe in. There is no way to prove that God does or does not exist, what I might believe to be a strong argument for the existence of God, and atheist such as McCloskey might deem nonsense. These â€Å"proofsâ₠¬  are simply and objective argument for the existence of God, thus have to be taken as valid argument, propositions, and theory and not as tangible proof. McCloskey dissects three major arguments being the cosmological proof, the  theological proof, and the argument from design. He takes all these arguments and picks them apart for both atheist and theist to see what he is trying to prove. In all honesty in some cases in these arguments of his I can see what he is trying to prove, yet in the end I have no sense of what he has accomplished with his arguments if he himself cannot prove that God does not exist. The first argument that McCloskey addresses is the Cosmological proof. He states that we cannot possibly assume without proof on an â€Å"an all-powerful, all-perfect, uncaused cause† and to this notion I somewhat agree. The reason being is that this argument does not specify the qualities of a god that could create the universe as it is. Thus the argument simply states that there must have been a first cause or there would have been infinite regress, or in other words gods and that is what the argument is trying to avoid. The next argument that McCloskey addresses is the Theological proof. He states that there cannot be indisputable proofs and examples of design that the whole argument becomes invalid. In this case he is again defeated by his own logic; because once again there is no way that any arguments attempting to prove that God does not exist are indisputable as well. In the world we live we must believe in what we as individuals take to as truth, since there is no possible way that a person can prove or disprove that God does or does not exist. McCloskey is attempting to support his arguments so hard that in the essence of itself he is defeating himself without realizing it. I believe that a perfect example of intelligent design is the human body. There is no possible way that such a complex and amazing creation came from a bunch of cells meshing together. Our bodies are built to live on the earth in a way that is amazingly thought out. The body is functioning, living organism in and of itself with thousands of different parts and pieces all working together to accomplish one goal: to live. The human body is the perfect example to show that intelligent design was indeed included in the universe and in the world today. Though this does not prove that there is one God, it does prove that there is a higher being that created what we are  today. I do not object to the thought of microevolution or even evolution itself, but I do not believe that evolution exterminates the need for intelligent design and a creator. Evolutionists believe that there exist the â€Å"perfect condition† as to what created the cosmos and the world around us, yet all the experiments to prove that this event took place have failed. Again there is the fact that we cannot prove or disprove this belief, while the experiments have failed; there is no way to go back in time and to prove that it indeed does not exist. Yet people must take into account that evolution does not cancel out God, in fact why couldn’t it have been God himself that created the â€Å"perfect condition† that brought into place evolution. McCloskey also addresses the fact that there is imperfection and evil in the world, he states that there could not possibly be a God who would allow this. First of all, the cosmological proof in itself does not tell us the characteristic of the creator, simply that there is one. Secondly a person who believes in God would tell you that there is evil in the world because God gave his creation the right to choose. The choice of the first man and woman of the world which God created chose to sin and brought evil into the world. There is also the fact that I believe McCloskey is being quite bold by stating that there is no divine purpose. After all he is simply a person in the world; he himself is not the creator and definitely does not have all the knowledge of the universe. The fact that McCloskey brings up the presence of evil is quite understandable. I completely understand where he is coming from and have had experiences in my own life with people like this. This is actually a very common argument among atheist and McCloskey is not an exception. It is sometimes hard to accept that fact that evil sometime does in fact fall into God’s Will, even some theist have trouble with the problem of evil when they themselves believe in a â€Å"good God†. In this argument I honestly have trouble as well. It is hard to justify a good person’s murder, or the rape of a young child, or the death of thousands because of a natural disaster. Yet in  the depths of my heart I personally believe that when God created the world it was not as such, it was perfect. When sin entered into the world it brought the evil as well. As for why God allows such evil to take place, that is a harder question and an even more difficult answer. I was brought up to believe that when God sees his creation in pain, it hurts him too; there have been times when I have questioned why God allows certain evils in our lives. The truth is there is no arguments that can make a person feel better in the face of child abuse, rape, murder, suicide, and even natural disasters, yet in the moments when people are hurting the most is when they turn to God. Thus I believe that is the way in which we see the reason there is evil in the world. God did not create the world with evil in place, but he did create a creation that could choose for their selves. Thus in essence the human race suffers from our own choices. McCloskey makes some very valid arguments yet I find that most of them stand empty handed. McCloskey also questions why God would not create a human race with free will to always to choose what is right. To this statement I honestly believe that would not be freewill. The reason that God created man with free will was so that he could love God of his own free will. If God had created man to the point where he could only choose what was good and right then in essence it would not have been free will at all. The beauty of having free will is the fact that God lets you choose, though he knows the choices that you will make, the choices are yours. Whether to love God or to reject God, free will cannot be controlled for then it would not be free will at all. At the end of his article McCloskey states that atheism is a much more comforting belief than theism. He uses the example of an ill child that was dying and that he would find no comfort in knowing there was a God. I on the other hand find that if there was no God and man was here on earth simply to be and that there was no reason for living that the death of a child would be unimportant. This might sounds very cruel but it is the truth. If there is no reason to live then dying is not much of an issue, since there is no afterlife simply the life we have here on earth. I find the fact of not knowing what will happen after death disconcerting. To know that when I die I will be in heaven with God is more than enough to help me through this  life on earth. Atheism to me is a sad religion with no reason for the existence of man. Heaven holds so much for the believer, peace, no pain, and an eternal home with God. Atheism to me is the religion that is the most miserable to live with, not theism. The greatest reason being that if there is no God, no afterlife, no salvation; then when death is on your doorsteps there is no hope only despair and fear of the nothingness beyond the grave. I cannot live believing there is no reason to live here on earth, knowing God loves and has a place for me in heaven is what helps me live on this Earth. References Craig, William L. Reasonable faith: Christian truth and apologetics. 3rd Ed. Wheaton, IL: Crossway Books, 2008. 71-90. Evans, C. S., Manis, R. Z. Philosophy of religion: Thinking about faith. 2nd Ed. Downers Grove, IL: InterVarsity Press, 2009. McCloskey, H. J. Question 1: On being an atheist. 1968. 51-54.

Relationship Between Institutional Holdings And Firm Performance Finance Essay - Free Essay Example

Sample details Pages: 17 Words: 4959 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? The study under consideration Role of Institutional Investors in Corporate Governance in India has been conducted to examine whether institutional investors and its constituents play an active role in corporate governance practices of companies and whether they do have any impact over financial performance of respective companies. This study is essentially empirical and exploratory in nature. It is empirical in the sense that it is a data based research used to derive meaningful conclusions that are capable of being verified by observation or experimentation. Don’t waste time! Our writers will create an original "Relationship Between Institutional Holdings And Firm Performance Finance Essay" essay for you Create order It is exploratory in the sense that it explores the evidences of role of institutional investors in corporate governance practices and their financial performance. The study tried to maintain reasonable level of accuracy in constructing corporate governance score and data collection. Widely acknowledged statistical approaches have been used to achieve the study objectives. Objectives of the Study: The present study attempts to achieve the following objectives: To construct corporate governance score To establish relationship between institutional holdings and corporate governance score To establish relationship between institutional holdings and firm performance To establish relationship between corporate governance score and firm performance The Sample Design and Data: The study was started with a vast sample of 4,000 non-finance companies but due to lack of information on all the required variables, sample of 200 companies was considered adequate for the study. The present study is based on the secondary data. It covers a period of five financial years from 1st April 2004 to 31st March 2008. It is considered long enough to generalize on the role of institutional investors. Data has been collected on the institutional holdings in total as well as on different constituents of institutional holdings from nseindia.com. Institutional holdings are further segregated into three constituents. The mutual funds being the first one. The second constituent includes various public and private sector banks, all the developmental financial institutions (like IFCI, ICICI, IDBI, SFC) and insurance companies like the LIC, GIC, and their subsidiaries. The last constituent comprise of foreign institutional investors. The secondary data regarding annual report s to construct the corporate governance score have been collected from respective company websites and sebiedifar.com. The firm performance measures have been divided into two categories, one being the accounting measures while others are based on market returns. The accounting return measures include (%) return on networth, (%) return on capital employed, Profit After Tax, (%) Return on Assets, Net Profit Margin and Earning Per Share. Whereas, market return based measures include Tobins Q, (%) Risk Adjusted Excess Return and (%) Dividend Yield. Data for the study period on financial performance measures have been collected from Prowess Database. The annual published reports incorporate information in quantitative form about the past performance of a business unit but the use of these reports for in-depth analysis and interpretation is not without limitations. The financial position reflected by the annual reports is true only for the last day of accounting year and it may not be relevant for the remaining part of the year. Hence, the conclusions drawn in the present study should be taken in the light of these deficiencies of data. The collected data has been analyzed by using various statistical tools. Table 3.1 Name of Companies Selected For Analysis Company Code Name of Company Company Code Name of Company 1 Aban Offshore Ltd. 101 Jaiprakash Hydro-Power Ltd. 2 Ador Welding Ltd. 102 Jubilant Organosys Ltd. 3 Agro Dutch Industries Ltd. 103 Jet Airways India Ltd. 4 Aarti Industries Ltd. 104 Jindal Steel and Power Ltd. 5 Alfa Laval India Ltd. 105 Jaypee Hotels Ltd. 6 Aditya Birla Nuvo Ltd. 106 JSW Steel Ltd. 7 Aegis Logistics Ltd. 107 Kajaria Ceramics Ltd. 8 Alembic Ltd. 108 Kansai Nerolac Paints Ltd. 9 Alps Industries Ltd. 109 KCP Ltd. 10 Apar Industries Ltd. 110 Khaitan Electricals Ltd. 11 Apollo Hospital Ent erprises 111 Lakshmi Machine Works 12 Arvind Remedies Ltd. 112 LGB and Bros. Ltd. 13 Asian Paints Ltd. 113 Larsen and Toubro Ltd. 14 Ashok Leyland Ltd. 114 Liberty Shoes Pvt. Ltd. 15 Asahi India Glass Ltd. 115 Lumax Industries Ltd. 16 Asian Electronics Ltd. 116 Lotte India Corporations Ltd. 17 Asian Hotels Ltd. 117 Lupin Chemicals Ltd. 18 Aurobindo Pharma Ltd. 118 Mahindra and Mahindra Ltd. 19 Balaji Telefilms Ltd. 119 Marico Ltd. 20 Bombay and Burmah Trading Corporation Ltd. 120 Maruti Suzuki India Ltd. 21 BASF India Ltd. 121 Max India Ltd. 22 Bell Ceramics Ltd. 122 Madras Cements Ltd 23 Berger Paints (I) Ltd. 123 Malwa Cotton Spinning Mills Ltd. 24 Bharat Rasayan Ltd. 124 Moser-Baer India Ltd 25 BEML Ltd. 125 Nagarjuna Construction Co Ltd. 26 Bharat Electronics ltd. 126 NationalAluminium Company Lt d. 27 Bharat Petroleum Corporation Ltd. 127 Navneet Publications (India) Ltd. 28 Bharat Forge Ltd. 128 NEPC India Ltd. 29 Bharti Airtel Ltd. 129 Neyveli Lignite Corporation Ltd. 30 Blue Star Infotech Ltd. 130 Nirma Ltd. 31 Bharat Heavy Electricals Ltd. 131 Nahar Industrial Enterprises 32 Bhushan Steel and Strips Ltd. 132 NTPC Ltd. 33 Birla Corporation Ltd. 133 OCL India Ltd. 34 Biocon Ltd. 134 Omax Autos Ltd. 35 Bombay Dyeing and Manufacturing Co. Ltd. 135 ONGC Ltd. 36 Britannia Industries Ltd. 136 Oil Country Tubular Ltd. 37 Balmer Lawrie and Co. Ltd. 137 Pantaloon Retail India Ltd. 38 Cadila Healthcare Ltd. 138 Petron Engg. Construction 39 Century Textiles and Industries Ltd. 139 Petronet LNG Ltd. 40 Cyber Media (I) Ltd. 140 Premier Ltd. 41 Chambal Fertilizers and Chemicals Ltd. 141 Patel Engg. Ltd. 4 2 Chennai Petrochemical Corporation Ltd. 142 Patspin India Ltd. 43 Chemplast Sanmar Ltd. 143 Radico Khaitan Ltd. 44 Cipla Ltd. 144 Rajesh Exports Ltd. 45 CCL Products (I) Ltd. 145 Rashtriya Chemicals and Fertilizers ltd. 46 Cheslind Textiles and Industries Ltd. 146 Radaan Mediaworks (I) Ltd. 47 Crompton Greaves Ltd. 147 Reliance Industries Ltd. 48 Dabur India Ltd. 148 RPG Cables Ltd. 49 DCW Ltd. 149 R S W M Ltd 50 Delta Magnets Ltd. 150 Rico Auto Industries Ltd. 51 Dharani Sugars and Chemicals Ltd. 151 Rane Holdings Ltd. 52 Deepak Fertilizers Ltd. 152 Ruchi Soya Industries Ltd. 53 Dalmia Cements (Bharat) Ltd. 153 Ramco Industries Ltd. 54 DCM Ltd. 154 Saksoft Ltd. 55 D-Link India Ltd. 155 Saregama India Ltd. 56 Dr. Reddys Laboratories Ltd. 156 S Kumars Nationwide Ltd. 57 Eicher Motors Ltd. 157 Sand esh Ltd. 58 Elgi Equipments Ltd. 158 S Band T International Ltd. 59 Eurotex Inds. and Exports Ltd. 159 Sah Petroleum Ltd. 60 Eveready Inds. Ltd. 160 Sesa Goa Ltd. 61 Everest Industries Ltd. 161 Shipping Corporation of India Ltd. 62 Exide Industries ltd. 162 Salora International Pvt. Ltd. 63 Four Soft Ltd. 163 Sintex Industries Ltd. 64 F D C Ltd. 164 Seamec Ltd. 65 Fame India Ltd. 165 Sterlite Industries India Ltd. 66 Finolex Industries Ltd. 166 Shiva Texyarn Ltd. 67 Fertilizers and Chemicals Ltd. 167 Supreme Petrochemical Ltd. 68 Gas Authority of India Ltd. 168 Sundaram Brake Lining Ltd. 70 Gabriel India Ltd. 170 Tata Consultancy Services Ltd. 71 Godrej Industries Ltd. 171 Tata Power Company Ltd. 72 Grasim Industries Ltd. 172 Tata Tea Ltd. 73 GTN Industries Ltd. 173 Tata Coffee Ltd. 74 Gujarat Minera l Development Corporation Ltd. 174 Texmaco Ltd. 75 Geometric Ltd. 175 TIL Ltd. 76 HCC India Ltd. 176 Tips Industries Ltd. 77 HEG Ltd. 177 Trent Ltd. 78 Hero Honda Motors Ltd. 178 TTK Prestige Ltd. 79 HCL Technologies Ltd. 179 Thermax Ltd. 80 Halonix Ltd. 180 Titan Industries Ltd. 81 Hind Syntax Ltd. 181 Thirumalai Chemicals Ltd. 82 Hitachi home and life solutions India Ltd. 182 TVS Motor Co. Ltd. 83 Heritage Foods (I) Ltd. 183 TV Today Network Ltd. 84 Hindalco Industries Ltd. 184 Usha Martin Ltd. 85 Hindustan Machine Tools Ltd. 185 Ultratech Cement Ltd. 86 Hindustan Petroleum Corporation Ltd. 186 Uttam Galva Steels Ltd. 87 Hindustan Organic Chemicals Ltd. 187 Unitech Ltd. 88 Indian Hotels Company Ltd. 188 United Phosphorous Ltd. 89 IFGL Refractories Ltd. 189 Voltas Ltd. 90 Impex Ferro Tech Ltd. 190 VIP Industries Ltd. 91 Indian Oil Corporation Ltd. 191 Vardhman Holdings Ltd. 92 IFB Agro Industries Ltd. 192 VST Industries Ltd. 93 Infosys Technologies Ltd. 193 Welspun-Gujarat Stahl Rohren Ltd. 94 IPCA Laboratories Ltd. 194 Wipro Ltd. 95 India Glycols Ltd. 195 Wheels India Ltd. 96 ITC Ltd. 196 Wyeth Ltd. 97 IVRCL Infrastructures and Projects Ltd. 197 Xpro India Ltd. 98 Jai Corporation Ltd. 198 Zee Entertainment Enterprise Ltd. 99 Jain Irrigation System Ltd. 199 Zenith Computers Ltd. 100 Jaiprakash Associates Ltd. 200 Zuari Industries Ltd. Construction of Corporate Governance Score: Various researchers have considered alternate measures of corporate governance. Some of them have used single measure, while others have used the multiple measures in the form of indices. Some researchers have used board characteristics as an effective measure of corporate governance as Hermalin and Weisbach (1998, 2003) have used board independence, Bhagat, Carey and Elson (1999) have used stock ownership of board members and Brickley, Coles and Jarrell (1997) have used the occupation of Chairman and CEO positions by the same or two different individuals. Whereas, Gompers, Ishii and Metrick (2003) have constructed a governance measure comprising of an index of 24 corporate governance provisions such as, classification of board of directors, measures taken by corporations to discourage unwanted takeover attempts, various lucrative benefits offered to the top executives if they are discharged of duties after the takeover and others, carrying equal weights collected by the Investment Responsibility Research Center. Bebchuk, Cohen and Ferrell (2004) created an entrenchment index consisting of six provisions in total out of which four include limit to shareholder rights and other two related with potential hostile takeovers. While the above-mentioned reports use data compiled by IRRC, Brown and Caylor (2004) applied Institutional Shareholder Services (ISS) data to construct their governance index. This index considered 51corporate governance features covering eight corporate governance categories: ownership, board of directors, director eduction, executive and director compensation, , progressive practices, audit, charter/bylaws, and state of incorporation. Similarly, Mohanty (2002) has developed nineteen measures of corporate governance and combining it into one composite measure by giving higher weightage to the measures relating to the shareholders compared to the other stakeholders. The details of these measures are: Providing valuable and timely informati on to shareholders, Exceeding projections made at the time of issue of shares, asymmetric treatment of shareholders, quality of earnings, investor grievances, consistent difference between free cash flow to equity and dividends, improvement in credit rating, transfer of wealth from bondholders to shareholders, bondholders grievances, employee turnover rate, strikes and lockouts, customer satisfaction, timely or deferring payment to suppliers, evasion of duties and taxes, building social infrastructure, producing socially useful products, adopting street children, polluting environment, reneging on commitments made to the society. Bhagat and Bolton took GIM G-Index (constructed from data compiled by Investor Responsibility Research Centre), BCF E-Index (6 provision subset of the G-Index), TCL Benchmark Score (based on whether the board is classified, whether the outside directors constitute a majority on the board, whether the board has an independent chairman or lead director, wheth er the audit committee consists of only independent directors, whether the board has adopted a formal governance policy, number of directors with more than fifteen years tenure, number of directors who serve on more than four boards, number of old directors, and CEO compensation structure), BC Gov Score (as described by Brown and Caylor), Board independence, Median Director Dollar Value Ownership, Median Director Percent Value Ownership, CEO Chair duality and some alternative governance measures (the percentage of directors who are currently active CEOs, the percentage of directors currently serving on more than four boards, the percentage of directors who have served on the sample firms board for more than fifteen years, the percentage of old directors, the percentage of women directors, and (6) the percentage of directors not possessing any stock in the sample firm, as governance variables). In the present study, Corporate Governance Score has been developed on the basis of key characteristics of Standard and Poors Transparency and Disclosure Benchmark. Standard and Poors provides a range of corporate governance analyses and services, the crux of which is the Corporate Governance Score. CGSs are based on an assessment of the qualitative aspects of corporate governance practices of a company. Information has been collected on the attributes given below from the latest available annual reports of sample companies. The methodology, with 98 questions in three categories and 12 sub-categories, is designed to balance the conflicting requirements of the range of issues analyzed and the tractability of the analysis. Transparency and Disclosure is evaluated by searching company annual reports for the 98 possible attributes broadly divided into the following three broad categories: Ownership structure and investor rights (28 attributes) Financial transparency and information disclosure (35 attributes) Board and management structure and process (35 attri butes) Each question has been evaluated on a binary basis to ensure objectivity, and rankings for the three broad categories and an overall ranking is developed from the answers to individual questions. 98 Individual Transparency and Disclosure Questions: (1) Ownership Structure and Investor Rights Transparency of ownership: Provide a description of share classes? Provide a review of shareholders by type? Provide the number of issued and authorized but non-issued ordinary shares? Provide the par value of issued and authorized but non-issued ordinary shares? Provide the number of issued and authorized but non-issued shares of preferred, non-voting, and other classes? Provide the par value of issued and authorized but non-issued shares of preferred, non-voting and other classes? Does the company disclose the voting rights for each class of shares? Concentration of Ownership Top 1,3,5, or 10 shareholders disclosed? Shareholders owning more than 10,5, or 3 percent is disclosed? Does the company disclose percentage of cross-ownership? Voting and Shareholder meeting procedures Is there a calendar of important shareholder dates? Review of shareholder meetings (could be minutes)? Describe procedure for proposals at shareholder meetings? How shareholders convene an extraordinary general meeting? How shareholders nominate directors to board? Describe the process of putting inquiry to board? Does the annual report refer to or publish Charter or Code of best corporate governance practices? Are the Articles of Association or Charter Articles of Incorporation published? (2) Financial Transparency and Information Disclosure Is there a discussion of corporate strategy? Report of the kind of business it is pursuing in detail? Does the company give an overview of trends in its industry? Report of the products or services manufactured/provided? Provide the analysis of various segments broken down by business line? Does the market share of any or all of businesses of company disclosed? Does the company report basic earnings forecast of any kind? In detail? Disclose output in physical terms? Does the company give an output forecast of any kind? Does the company give characteristics of assets employed? Does the company provide efficiency indicators Does the company provide any industry-specific ratios? Does the company disclose its plans for investment in the coming years? Does the company disclose details of its investment plans in the coming years? Accounting Policy Review Provide financial information on a quarterly basis? Does the company discuss its accounting policy? Does the company disclose accounting standards it uses for its accounts? Does the company provide accounts according to the local accounting standards? Does the company provide accounts in alternate internationally recognized accounting method? Does the company provide each of the balance sheet, income statement, and cash-flow statement by internationally recognized methods? Does the company provide a reconciliation of its domestic accounts to internationally recognized methods? Accounting Policy Details Does the company disclose methods of asset valuation? Does the company disclose information on method of fixed assets depreciation? Does the company produce consolidated financial statements? Related Party structure and transactions Provide a list of associate companies in which it carries a minority stake Is ownership structure of affiliates is disclosed by the company? Is there a list/register of related party transactions? Is there a list/register of group transactions? Information on Auditors Does the company disclose the name of its auditing firm? Does the company reproduce the auditors report? Disclose how much audit fees is paid to the auditor? Disclose any non-audit fees paid to auditors? (3) Structure of Board and Management and its Process Is there a chairman listed? Are details, vital information, about the chairman disclosed? Is there a list of board members (names)? Are there details about directors (other than name/title) Details about current employment/position of directors provided? Are details about previous employment/positions provided? Disclose the dates of joining of directors on the board? Are directors classified as executive or outside directors? Role of the Board Is the role of Board at the company is disclosed in detail.? Is list of matters reserved for the board is disclosed? Is there a list of board committees? Review last board meeting (could be minutes)? Is there an audit committee? Disclosure of names on audit committee? Is there a remuneration/compensation committee? Names on remuneration/compensation committee? Is there a nomination committee? Disclosure of names on nomination committee? Other internal audit function besides audit committee? Is there a strategy/investment/finance committee? Director training and compensation Disclose whether they provide director training? Disclose the number of shares in the company held by directors? Discuss decision-making process of directors pay? Are specifics of directors salaries disclosed (numbers)? Form of directors salaries disclosed (cash, shares, etc.)? Specifics disclosed on performance-related pay for directors? Executive compensation and evaluation Names of senior managers who are not on the board Details (background information) of senior managers disclosed Disclose the numbers of shares held by the senior managers Disclose the number of shares held by managers in other associated companies Disclose the process of decision-making of managers pay who are not on the board Numbers of managers (not on board) salaries disclosed? Form of managers (not on board) salaries disclosed? Specifics disclosed on performance-related pay for managers? Details of the CEOs contract disclosed? Measures of Financial Performance: To measure the impact of corporate governance on financial performance different researchers have used different financial measures. Hermalin and Weisbach (1991) has taken Tobins Q as the single measure of financial performance. Bhagat and Black (2002) took return on assets, asset turnover and stock returns. Bhagat and Bolton (2007) considered annual return, annual return on assets and annual Tobins Q as performance variables. Brown and Caylor (2004) have used six industry-adjusted performance measures as return on equity, net profit margin, sales growth, Tobins Q, Dividend Yield, Stock Repurchases. Mohanty (2002) has used Tobins Q and stock returns as the measures of financial performance. Overall, nine measures of financial performance have been taken in the present study. Some are based on accounting profits and accounting ratios while others are related to stock prices of sample companies for the sample period. Different measures are stated below: Return on Net worth This is a tool of measuring profitability of a company. It is arrived at using the following formula: Profit After Tax net of non-recurring item x100 Average Net Worth Net worth This represents the share capital and retained earnings of a company. It is arrived at using the following formula: Equity Capital Preference Capital Reserves and Surplus-Revaluation reserve-Misc. expenses not written off Return on capital employed This is another ratio to measure the profitability of a company. It is arrived at using the following formula: Profit After Tax net of non-recurring item x100 Average Capital Employed Capital employed This represents the share capital plus reserves and long- term debt of a company. It is arrived at using the following formula: Equity Capital Preference Capital+ Reserves and Surplus-Revaluation Reserve-Misc. expenses not written off+Total borrowing- (Bank Borrowing+Short- term commercial paper). Profit After Tax This is the net profit of the company after tax. It is derived by deducting all expenditures from the sum of all source of income including changes in stock. This net profit includes all the regular, prior-period and extraordinary sources of income on the income side. Correspondingly, it includes all kinds of revenue expenses including those for prior-period transactions, extraordinary in nature, cash or non-cash in nature, etc. Expenses also include all indirect and direct taxes. Return on Assets This is another ratio to evaluate the profitability of a company. It is calculated using the following formula: Profit Before Depreciation, Interest and Tax x 100 Total Assets Risk Adjusted Excess Return This is a market return based measure of financial performance of a company. It is calculated using the following formula: 365 Days Excess Return over Nifty x100 Beta (a measure for Risk) Beta: It is also known as the systematic risk parameter indicating the volatility of the funds portfolio compared to the benchmark index. It has gained worldwide acceptance as the primary risk measure for asset selection. Unlike standard deviation, which is also a measure of the risk, beta measures the past volatility of a security relative to something else, usually a benchmark index. Tobins Q This is a measure of the financial performance of a company. It is calculated using the following formula: (Market Capitalization+Book value of Debt) x 100 Book value of Assets Market Capitalization: It is defined as the product of the closing price of shares of a company on that date and the number of outstanding equity shares as on the same date. Dividend Yield It is the return earned by an equity shareholder by way of dividends. It is calculated on the closing price on a given date. It is calculated using the following formula: Face value of Equity shares x Dividend rate Closing Price Net Profit Margin This is the profitability margin ratio derived considering into account the profit after tax, which is net of non-recurring item as percentage of gross sales. It is calculated using the following formula: Profit After Tax net of non-recurring item x100 Gross Sales Earning Per Share It is defined as the ratio of the profit after tax net of non-recurring transactions of the company in the 12month period to the number of shares outstanding as on that date. Statistical Tools The study has been conducted in light of three perspectives. The first aspect intends to find out whether the institutional investors and its different constituents do invest in the companies with good governance practices and simultaneously, do their presence improve the governance practices of companies. The second aspect deals with verifying whether institutional investors as whole and its different constituents have any significant and positive impact over financial performance of companies. And the last aspect deals with affirming whether the companies with good governance practices also have better financial companies than the firms with poor governance practices. To throw light on the above aspects and to establish the relationship between Institutional Holdings and Corporate Governance Score, Corporate Governance Score and Institutional Holdings, Institutional Holdings and Firm Performance and Corporate Governance Score and Firm Performance, simple linear regression analysi s has been used. Regression analysis is a statistical tool for the investigation of relationships between variables. In the present study, an attempt has been made to ascertain the causal effect of one variable upon another. Data has been assembled on the variables of interest and employed regression to estimate the quantitative effect of the causal variables upon the variable that they influence. The study also typically assesses the statistical significance at 5 percent level of the estimated relationships, that is, the degree of confidence that the true relationship is close to the estimated relationship. In order to achieve the objectives stated earlier, the present study conceptualized the following null hypotheses for validation of positive relation between institutional holdings, corporate governance and firm performance H01: Institutional/its components Holdings and Corporate Governance score are very closely related in a manner as to depict a positive relationship between the two H02: Corporate Governance Score and Institutional/its components Holdings are also very closely related in a manner as to depict positive relationship between the two H03: Institutional/its components Holdings and various measures of firm performance are very closely related in a manner as to depict positive relationship between the two H04: Corporate Governance Score and various measures of firm performance are very closely related in a manner as to depict positive relationship between the two To investigate these hypotheses, data has been collected from the earlier mentioned sources on institutional holdings and its sub-categories, corporate governance score and different measures of financial performance. The hypothesized relationship between any two variables is written as: Y =  Ãƒâ€šÃ‚ ¡ +  Ãƒâ€šÃ‚ ¢X +  Ãƒâ€¹Ã…“ Where  Ãƒâ€šÃ‚ ¡ = the constant value when value of X is zero  Ãƒâ€šÃ‚ ¢ = the eff ect of X on Y, hypothesized to be positive  Ãƒâ€¹Ã…“ = the error term reflecting other factors that influence Y variable Variable X is termed as independent, explanatory or exogenous variable and variable Y is termed the dependent or endogenous variable Hence, Standardized Co-efficient in terms of Constant value,  Ãƒâ€šÃ‚ ¢ value and Standard Error has been calculated by taking different variables as independent (Institutional Holdings and different constituents of Institutional Holdings1) and (Corporate Governance Score2) and dependent variables (Corporate Governance Score1, Institutional Holdings in total and different constituents of institutional holdings2) in one chapter. Similarly, in other chapter, (Institutional Holdings and different constituents of Institutional Holdings3) is taken as independent variable and (different measures of financial performance3) is taken as dependent variable. Likewise, in another chapter, (Corporate Governance Score4) is taken as independent and (different measures of financial performance4) as dependent variables. t-statistic has also been calculated to determine the relative importance of each variable in the regression model at 5% level of significance. This statistic can be positive or negative as the parameter estimate from which it is derived is greater or lesser than the hypothesized true value of the parameter. R2 has been calculated to see the proportion of variation in the dependent variable explained by the regression model. It is equal to one minus the ratio of the sum of squared estimated errors (the deviation of the actual value of the dependent variable from the regression line) to the sum of squared deviations about the mean of the dependent variable. Intuitively, the sum of squared deviations about its mean is a measure of the total variation of the dependent variable. The sum of squared deviations about the regression line is a measure of the extent to which the regression fa ils to explain the dependent variable (a measure of the noise). Hence, the R2 statistic is a measure of the extent to which the total variation of the dependent variable is explained by the regression. The values of R2 ranges from 0 and 1. Small values indicate that the model does not fit the data well whereas; a high value suggests that the regression model explains the variation in the dependent variable well. To find out whether the results are reliable or not Durban/Watson values have been calculated. Organization of the Study The study under consideration has been divided into seven chapters, which are mentioned below: Chapter I An Introduction Chapter II Review of Literature Chapter III Research Methodology Chapter IV Institutional Holdings and Corporate Governance Chapter V Institutional Holdings and Firm Performance Chapter VI Corporate Governance and Firm Performance Chapter VII Summary and Conclusion Significance of Study Corporate Governance has been emerged as the most pertinent issue in the corporate world in the recent era. Agency problem is considered as the central cause of governance problems around the world. The large number of small shareholders virtually do not have any control on the managers. They are only informed of the financial results on a periodical basis while the managers control the firms assets. This widely held structure provides an opportunity to the managers to expropriate shareholders wealth and to misappropriate the funds by way of transfer of money as loans to his own companies, or sale of the company assets to themselves at a lesser price or pay himself more perks leading to poor governance practices. To overcome this agency problem and to improve the governance practices, the role of institutional investors have become vital now a day. Being the large investors, they have potential to influence the company strategy and executive decision-making. They can engage in d ialogue with management, attending annual meetings, submitting shareholder resolutions, bringing lawsuits, and other mechanisms designed to communicate shareholder interests to the corporation. Even their selling of shares can have significant pressure on the companies improve their governance practices. But, to the contrary it is also supposed that institutional investors have their own specific objectives and they are more concerned about the return on their investments to the governance practices adopted by the corporations. Therefore, if the institutional investors invest in the companies with higher returns and good governance as well, is justified. Therefore, while investigating into the role of institutional investors in corporate governance, two more related issues have to be considered. Whether the institutional investors presence improve the firm performance and whether the governance practices adopted by the corporations have any impact over their financial performance. H ence, the intricacy of role of institutional investors in corporate governance, impact of institutional investment on firm performance and impact of corporate governance over firm performance needs attention. Various studies have been conducted so far on the above issues around the world and in India also on the above issues and the results have been inconclusive so far. Results are mixed as to the whether the institutional investors invest in the companies with good governance practices or their investment improve the governance practices adopted by the corporations. Similarly, the impact of institutional holdings over financial performance of firms is also not clear and the results are not coherent regarding the impact of corporate governance over firm performance also. The present study is expected to draw the attention of corporate world and researchers towards the role of institutional investors in corporate governance practices in India. The present research work would prov ide important guidelines for institutional investors too whether they should concentrate on the financial performance of target companies only or they should also value the governance practices followed therein. Similarly, it will draw the attention of policy makers towards institutional investor activism in India and thereafter, making policies to enhance the same. Limitations of the Study The conclusions drawn in the present study are of tentative nature, subject to the veracity of the data available. The published annual reports have been taken as the base for constructing corporate governance score and for collecting data on other variables too. But these reports show the position on a particular day, which may not prove true for the whole year. But the researcher, with time constraint, has to depend upon these reports because it is not possible to compile the data originated at different times during the period under study. Corporate Governance Score has been constructed on the basis of information derived from annual reports of only year 2008, therefore, the other limitation of the study. Though it is constructed on the basis of comprehensive attributes but only one score is taken for the study period instead of taking separate scores for individual years as the other variables are taken. This is a maiden attempt on the part of the researcher; therefore, lack of experience may be considered as a stumbling block. This, however, is a mammoth task beyond the reach of an individual researcher. ********