Is Ukraine A Great Country - 1807 Words

We all have a lot in common, because we are humans, but, at the same time, we are all completely different, because there is no one person who is completely the same as the other one. Even twins are different, when, at first glance, we can see them 100% identical. It is strange, but it is completely true, that people may be against someone that looks different or acts different, most of us don’t like to see very unusual things because we are not used to them. Each region is different and it is very important to realize, that racism was, and is going to be everywhere. In African, Arabic and Hispanic countries, people who are white are different, while in Europe and the United States, they are nothing but normal. Sometimes we are not†¦show more content†¦There is no doubt that in Europe and in Ukraine especially, racism is a very popular issue. Also in Europe today, racism is not classic because it applies not only to people with a different skin color. It includes all the characteristics defined by the International Convention of the United Nations Convention, adopted on 21 December 1965: ... the term racial discrimination shall mean any distinction, exclusion, restriction or preference based on race, color, descent, or national or ethnic origin ... . We must not succumb to the insidious illusion that violent outbreaks of ethnic hatred remained in the distant past. According to Focus.ua, a surge of racist crime occurred less than 10 years ago, in October 2006 the Congress of the monitoring of national communities of Ukraine recorded 16 attacks on the color of foreigners (two fatalities), and in 2007 - already 86 attacks (five deaths). Since then, the trend is disappointing, however, that was quieter this year. Most of the safety of international visitors is coming from their safety. After being burned in 2006 and 2007, people, who came to Ukraine to live are not trying to fight against the rules of our community, but just making their own life safer (Safonov, 2009). According to tradition of my country, if a girl from a good family is going to get into a relationship with a â€Å"black† man, she and all her family

Case Study Management Pl Case Management - 887 Words

Case Management Plans â€Å"Case management is a collaborative process of assessment, planning, facilitation, care coordination, evaluation, and advocacy for options and services to meet an individual’s and family’s comprehensive health needs through communication and available resources to promote quality, cost-effective outcomes† (CMSA. p.6, 2010). Case management plans are an integral part that help to develop and contribute to the care and services that will be needed to provide services to the client to achieve optimal health outcomes (CMSA, 2010). Case management plans need to include certain criteria that will help to develop a plan that benefits the patient and their families. These include best practices, published guidelines, and clinical pathways. These three assets are important to incorporate when developing a case management plan to ensure the plan is created using evidence-based practice as well as guidelines that have been set to follow, so that care for the patient will be appropriate. Best Practices When formulating a case management plan, the case manager must consistently use best practices. Standards of practice for case management are evidence-based and are proven to be successful in achieving patient outcomes (CMSA, 2010). Evidence-based practice acts as a resource that allows the case manager to be effective with planning. When patients get admitted to the hospital, the case manager will assess the patient to see if there are any needs or services theShow MoreRelatedThe Case For Intern As Oracle And Sql Developer1614 Words   |  7 PagesThis term, Sriven Technology has offered an unpaid employment for the position of Intern as Oracle PL/SQL Developer. 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Nursing Image Free Essays

A memorable and attractive nurse image is found in the movie â€Å"The English Patient† in the face of Hana, a young French-Canadian nurse skillfully played by Juliette Binoche. Hana is one of the central images of the plot, appearing in ‘present’ part of the film that intersperses present with reminiscences of the past. She does an exceptional job tending to the ‘English patient’ who is surviving only thanks to her determination, perseverance and commitment. We will write a custom essay sample on Nursing Image or any similar topic only for you Order Now She both performs her professional duties towards the patient and develops a personal attitude towards the mutilated man left in her care. Hana seems to be in love with her patient who is far from sexually attractive with his maimed body, perhaps as extrapolation of her caring attitude towards him. Hana is put in a difficult situation, tending to the patient all alone at the time of the war. Her experience shows that a nurse’s job can at times be extremely challenging as nurses have to follow their patients through the most difficult of times and deliver care equally in the time of peace and war. Hana’s job involves many things – she delivers professional care to the patient, washing his wounds and giving him morphine, reads aloud to him, but also fixes the villa and does the gardening. Hana is left alone with her patient – there are no other medical professionals in the vicinity, and she is the sole decision-maker in her professional actions, which underscores the importance of her nursing role. Hana is a really likeable character, mainly because of her personal character and her determination to patient care. She is only twenty when the war starts and makes her mature in the shortest possible time. She is so determined to her work that she cuts her hair after three days in the war and pledges to skip looking in the mirror until it ends. This shows how much her nursing means to her as she is ready to get rid of what made her feminine attraction to be able to deliver quality care to her patients. However, Hana is not devoid of natural women’s desires: she gets attracted to men, exemplified in her relations with Kip, who later becomes her lover, and the English patient himself who she admires secretly as a man who suffered his wounds in the cruel and heroic warfare. Hana’s relationship with the English patient is a complex cobweb of professional commitment and the burgeoning love of the young woman for a man she sees as ideal. Hana is young and attractive, and the viewer takes her infatuation with men as a natural order of things, because it does not seem to interfere with her professionalism. Thus, Hana demonstrates the values of service to others and humanism, since she does not limit her care to professional interactions, but is ready to take the patient as a human being. She maintains his belief in the favorable outcome of the treatment and makes him feel that he should make an effort to survive, since it is personally important to her. There is not much in the movie to depict Hana’s understanding of scholarship or achievement, though. Maybe the reason is that Hana just happened to become a nurse because she wanted to make a contribution to her nation in the time of the war and does not see her future as connected with nursing career. Rather, Hana attends to her duties with a Christian attitude that intertwines the requirements of the nursing profession with the religious beliefs. She talks of her patient as a saint and compares his bones to those of Christ. This religious background clearly serves as an important motivator for Hana, inspiring her in her nursing activities. Hana wins recognition with the surrounding people thanks to her role in providing care. Eventually, she succeeds in building a little world around herself that unites the thief Caravaggio, the English patient, the Indian ‘sapper’ Kip, and herself. All these people find consolation in their association with a lovable woman who also has a caring and affectionate character. Hana wins the affection of the viewer, too, by being thoroughly professional and at the same time deeply humane. Bibliography The English Patient. Dir. Anthony Minghella. 1996. How to cite Nursing Image, Essay examples

Developmental Profile free essay sample

This vital relationship positively impacts a childs physical, mental, and emotional well-being. It is deeply valued by millions of American families. The movie, Big Daddy, is a about a young boy that has been sent back to live with his biological father. He did not know that he had a son, but found out shortly after his mother passed away and the boy was brought to his home. The father, played by Adam Sandler, takes on the responsibility of raising the five-year-old little boy. In the movie, he adopts a permissive parenting style and allows the child to make his own decisions and rules. He does not give his son boundaries or guidelines. The movie depicts that not having rules, guidelines or parental expectations will result in the child making the right decisions for himself on his own. However, both our text book and research shows that although these type of parents tend to be warm and supportive with their children, not setting rules and boundaries for children to follow usually results in children who are rebellious, impulsive and domineering. We will write a custom essay sample on Developmental Profile or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Adam Sandler does not say no to his son, which is a main characteristic of a permissive style parent. Sandler was simply a resource for his son rather than a role model that should be communicating what is to be expected from his son. Permissive style parenting over a long period of time will result in teens that may have difficulty with self-control and demonstrate egocentric tendencies that can interfere with proper development of peer relationships. Later in the movie, the child does display his first signs of rebellion due to Sandler’s type of parenting; when asking his son to do something, the son repeatedly says what he wants and doesn’t accept any negotiating. Sandler gives in. I chose to also analyze the movie, Stepmom. It depicts the trouble with combining families with parents who differ in their parenting styles. Both families discipline and teach the same children, yet they can contradict each other in the process. Many binuclear families run in to this parenting problem when they decide to remarry. There are many scenes from the movie that consist of Julia Roberts, the step mother, and Susanne Sarandon, the mother, arguing due to differences in the way they would like to raise the daughter. The movie seemed to be very realistic and showed viewers exactly what binuclear families are forced to compromise on. Communication is key to resolve these problems. In the scene that I have chosen to show the class, the two mothers are both looking out for the best interest of their daughter. They are both genuinely concerned about her, but have different opinions about the way things should be handled. To save the daughter from confusion, I feel that it should be important that parents work together and keep an open line of communication. This will enable their daughter to understand boundaries and feel secure about her own decision-making. According to our book, it often becomes stressful in a family when parents do not agree on how to parent. Both parents should acknowledge, respect and value the parenting roles and tasks of the other parent. The Blind Side was another movie that depicts the importance of a positive parent-child relationship. This movie shows the difference that parent involvement and parental contribution can make in a child’s life. Before meeting the Touhy family, Michael was the result of uninvolved, neglectful parenting. He was the sixth child out of the twelve that she had. His parents were not concerned with his needs, whereabouts or experiences at school. His father had left long before he was born and his mother was more concerned with drugs and fending for herself rather than her children. When Michael joined the Touhy family, his emotional needs were finally being met. Their family gave him the security, love, trust, affection and self-esteem that he had been missing. As depicted in the movie, Mrs. Touhy became very involved with Michael’s life. She took an active interest in what was going on with school. When she noticed that he was struggling, she quickly got him the help he needed. According to our textbook, children who feel secure and safe will explore and learn more readily. Starting with a base of security, Mrs. Touhy could further enhance Michael’s development by providing intellectual stimulation. She encouraged him to set goals, work hard and stay focused on the prize. With use of discipline tactics learned from the game of football, Mrs. Touhy helped Michael develop the self-control that will enable him to be successful with anything he does. There are so many reasons why the parent-child relationship is so important during development. I believe that movies can teach and inspire good parenting, but they can also be unrealistic and wrong. Media has a huge influence in the decision making process of everyone. The clips that I have chosen, I feel, have shown good examples of different parenting styles and the value of good parenting. Steinberg, L. (2001). We know some things: Adolescent-parent relationships in retrospect and prospect. Journal of Research on Adolescence, 11, 1-19.

RETELL BACKGROUND INFORMATION ON THE AMAZON RAINFOREST AND OTHER RAIN

RETELL: BACKGROUND INFORMATION ON THE AMAZON RAINFOREST AND OTHER RAINFORESTS The Amazon rainforest is the world's largest tropical rainforest. It covers approximately 2 million square miles in the Amazon River Basin of South America (Lyman 1998, 61) About two-thirds of the rainforest lies in Brazil. The forest also covers parts of Bolivia, Peru, Ecuador, Columbia, and Venezuela (Lyman 1998, 32) In the Amazon rainforest it contains a wider variety of plants and animal life than any other place in the world. It supports millions of plant, animal and insect species it is a virtual library of chemical invention. Deforestation is a vital issue that is playing a great role all around the world today. Deforestation robs the world of countless species, destroying crucial biodiversity and losing species with potential uses in medicine, agriculture, and industry. Over half of the world's tropical rainforest is being destroyed, most of which are in Brazil, and they are continuing to be destroyed today (Silver 1998,11). The topic of rainforest destruction raises the thought of biodiversity and cures for cancer, both of these thoughts are very important reasons to end deforestation but it has not yet come to and end. Global climate and the greenhouse effect both have an impact on the atmosphere and as well as the biosphere. Due the rainforest it has found drugs for quinine, muscle relaxants, steroids and cancer drugs (Hadden 1995, 27). Tropical forest are destroyed for several reasons, there is an increasing demand for both farm and grazing land which results in burning and clearing of the rainforest for agriculture production. Unbelievably over 200,000 acres of rainforest is burned every day in the world ( Silver 1998, 29). Another reason of deforestation is the continued urbanization of the world and the need for construction of roads and industrialization. The need for fuel and timber for construction is another major factor leading to the destruction of the rainforest (Hadden 1995,45). Deforestation has serious effects on the planet. These effects have negative consequences on the Earth's biosphere, the biodiversity of the planet, and greatly threatened the physical survival of people who heavily rely on the forest. Effects of deforestation are too great to continue destroying the forest. Deforestation by burning lets out carbon dioxide, which accounts for at least half of the greenhouse effect, in which atmospheric gases, mostly produced by human activities, trap the sun's heat, slowly warming the Earth. At least three-quarters of deforestation in the tropics are due to burning, which release about 2.4 billion tones of CO 2 into the atmosphere each year ( Lyman 1998, 16). The greenhouse effect will have several affects on the Earth. One problem is that it will cause a rise in sea levels due to the melting of glaciers. This could cause frequent flooding. Also greenhouse gases can also have an affect on climate change which can also affect the future agriculture (Silver 1998, 32). Also some studies have showed that there may be a decrease in rainfall and an increase in surface temperature. In the rainforest the trees protect the soil against erosion and reduce the risks of landslides and avalanches. Soil erosion then leads to greater amounts of run off and increases sedimentation in the rivers and streams. Besides, protecting the soil from erosion, the trees create a canopy that regulates how much rainfall and sunlight reaches the rainforests floor (Hadden 1995,22). When trees are cleared high sunlight and heavy rainfall quickly damages the topsoil. Tragically, rainforests once covered 14% of the earth's land surface. Now they cover 6%. In less than 50 years, more than half of the world's rainforest has been burnt down with fire and cut down with chain saws (Silver 1998, 44). Experts claim that the current rate of destruction, the last remaining forests could be consumed in less than 40 years. Experts also claim that they are losing approximately 130 species of plants, animals and insects every single day as they become extinct from the loss of rainforest land and habitats. How many possible cures to devastating diseases have we already lost? ACTION PLAN This project has made me realize the true value of how important our rainforest and any other forest is to our planet. I have learned a great amount of

Free Essays on Smoking In Public

Smoking in restaurants is a disruption to everyone’s meal, not just the smokers. The dividers that restaurants owners provide do not keep the smoke from spreading to non-smoking areas. The smokers do not worry about the smoke because they have a filter and have made the choice to smoke. Most of the time smokers do not even notice the smoke; they have become immune to smell of smoke. Without the filter, the non-smokers end up taking in more toxins than smokers do. Ventilation along with dividers may be a way to solve the smoke problem. The dividers placed between smoking and non-smoking areas do not provide a good enough barrier. As smoke is exhaled it is carried with the flow of air in the room; this means the barriers are not tall enough to keep smoke from traveling over them. The barriers themselves are sometimes only three to four feet tall, this not tall enough to stop the smoke from lingering in the non-smokers area. Smokers should be in separate rooms. This would keep the smoke from bothering the non-smokers. This smoke is distracting and dangerous to those who do not smoke. The toxins and carcinogens in cigarettes are not only harmful to the smokers, but to the non-smokers as well. The filter protects the smokers from most of the ingredients in cigarettes such as: acetone, ammonia, butane, methanol, arsenic, formaldehyde, nicotine tar and carbon monoxide. The non-smokers are not given this choice when restaurant owners do not provide adequate barriers and ventilation. It is proven that the carcinogens in cigarettes can cause cancer and various other problems. One way to appease both sides is for restaurant owners to provide proper ventilation. Ventilation is not a complete answer to smoke problems, but it is a start. In some restaurants there are ceiling fans. This is not enough. The ceiling fans just push the smoke around the room. Smoke-eaters provide a way to filter the air. T... Free Essays on Smoking In Public Free Essays on Smoking In Public Smoking in restaurants is a disruption to everyone’s meal, not just the smokers. The dividers that restaurants owners provide do not keep the smoke from spreading to non-smoking areas. The smokers do not worry about the smoke because they have a filter and have made the choice to smoke. Most of the time smokers do not even notice the smoke; they have become immune to smell of smoke. Without the filter, the non-smokers end up taking in more toxins than smokers do. Ventilation along with dividers may be a way to solve the smoke problem. The dividers placed between smoking and non-smoking areas do not provide a good enough barrier. As smoke is exhaled it is carried with the flow of air in the room; this means the barriers are not tall enough to keep smoke from traveling over them. The barriers themselves are sometimes only three to four feet tall, this not tall enough to stop the smoke from lingering in the non-smokers area. Smokers should be in separate rooms. This would keep the smoke from bothering the non-smokers. This smoke is distracting and dangerous to those who do not smoke. The toxins and carcinogens in cigarettes are not only harmful to the smokers, but to the non-smokers as well. The filter protects the smokers from most of the ingredients in cigarettes such as: acetone, ammonia, butane, methanol, arsenic, formaldehyde, nicotine tar and carbon monoxide. The non-smokers are not given this choice when restaurant owners do not provide adequate barriers and ventilation. It is proven that the carcinogens in cigarettes can cause cancer and various other problems. One way to appease both sides is for restaurant owners to provide proper ventilation. Ventilation is not a complete answer to smoke problems, but it is a start. In some restaurants there are ceiling fans. This is not enough. The ceiling fans just push the smoke around the room. Smoke-eaters provide a way to filter the air. T...

Executive toy Essay Example | Topics and Well Written Essays - 1250 words

Executive toy - Essay Example However, the interconnection between the toys and technological development is not one-way. Amazingly, the contribution of toys to the progress of technology is quite significant. The article "The Antikythera mechanism" emphasizes that The origins of much modern technology, from railway engines to robots, can be traced back to the elaborate mechanical toys, or automata, that flourished in the 18th century. Those toys, in turn, grew out of the craft of clockmaking. And that craft, like so many other aspects of the modern world, seems to have roots that can be traced right back to ancient Greece. Not only technological mechanisms but the simplest and beloved by many children dolls, animal figures and tops originated in either ancient Greece or Rome. Children in Greek and Roman families played with balls, clay dolls and clay rattles, hand carts, hobby horses, hoops and spinning tops. The playtime often was used to teach children to use things the adults use in everyday life. Through the toys and games children were introduced to the important activities of household economy, carpentry, hunting, etc. It became obvious in the time of Dark Ages & the Middle Ages. When children were old enough to play parents also taught them to work and use weapons and tools through the play. "They would play outdoor games using pebbles, knucklebones and barrel hoops. Some would have hand made wooden toys such as tops, hobby horses and puppets." (Brief history) Attitudes have changed over the centuries. Puritans believed wanted to ban Holy days which were traditionally days for celebrating and playing games and toys became rare. Victorian parents believed that children should not play games on a Sunday but they were allowed to play with Noah's Arks because of their religious significance. Another factor that influenced the development of toys besides religious and social attitudes was definitely technology. The 18th century saw mass produced toys that were cheaper to make and buy. "Wealthy parents spent their money on printed instructional toys that would aid learning and morality, such as pictorial alphabet cards, dissected map puzzles, books and board games" (The Brief History). In the 19th century the main retailers of technical toys were opticians who sold steam engines, magic lanterns, building blocks and optical toys such as the kaleidoscope and zoetrope. Many famous toy companies started business in the 1890s and 1900sWorld War II brought toy production to a standstill. There was a revival in home made toys and knitted toy patterns became popular. In the 20th century, the cinema and later TV, has had a major influence on the retail of toys. Advances in technology have provided toy makers with new ideas for models and toys to replicate the society. Models and building bricks enable children to play imaginatively constructing and creating their own versions of the things they see around them. The popularity of these toys is often governed by events, such as the growth of the railways in the 19th century or the advent of space travel in the 20th century. Trains were the first form of modern transport to be copied as toys and wooden pull-along trains were available from the 1840s onwards. "By the 1870s the wooden toy train was replaced by tinplate locomotives and tenders with carriages which were often

Helping Abused and Traumatized Children Article Example | Topics and Well Written Essays - 500 words

Helping Abused and Traumatized Children - Article Example Dr. Gil presents three models of hers; expressive, cognitive-behavioral, and family therapy The article is basically complementing the book written by Dr. Eliana Gil hence it provides specific material provided in the book to prove that the book written by Dr. Gil is a special piece of work that would help the people in the related field. The book is full of interesting and effective case studies that give a practical touch to the book. Though the book is a very detailed and informative resource on the subject but the reviewer does agree that books of this type that deal with complex issues such as traumatized and abused children have natural limitation and challenges. As this book contains qualitative theories and models but does not have the capacity to enable the reader to implement these models and theories in practical situation this proves to be a natural limitation because all books of this type have the same limitation. The book contains terms that are technical to the extent that a beginner would have difficulty in comprehending them. Although in depth case studies have been provided within the book but the book would have been better if more case studies would have been provided. The article tells us that Dr.

Yonnondio and Waiting for Lefty Essay Example | Topics and Well Written Essays - 1250 words

Yonnondio and Waiting for Lefty - Essay Example This is the reason many authors are still writing about issues that bring negative impacts to the community and are related to capitalism. They have chosen individuals in their writing to portray the experiences in the superior communal entirety of capitalism. In the given novels, there are many similarities shown in the characters way of life. There are two families used by the authors to show the different lifestyles among capitalized people. In both novels, it is essential to note that similar issues are discussed. The authors mostly focus on the struggles people have to undergo to ensure that there lives are better. In the play waiting for lefty, Miller is a learned man working in the lab as lab assistance. He works for a certain company and is requested by his boss to make poisonous gases that are to be used to fight in a chemical war. To ensure that he does not neglect his request, his boss tells him of his raise in his office. He does not understand that he is being used to ma ke poisonous gases that are to be used by certain people in chemical warfare. At first, he seems to accept to the terms as offered but as Fayette, his boss, continues with his explanations he remembers the deaths that have occurred due to war (Odets, 23). He remembers the death of his brother and is willing to lose his job. The author states that he tells it to Fayette’s face that he had rather get a livelihood from digging ditches. The author tries to show that there is a lot of exploitation among the people who live in lower standards of life. Since they are willing to have better lives, they are willing to bear with anything to have their goals achieved. Just like Miller, many people should be ready to overcome worse experiences as seen among people living under capitalism (Odets, 30). In the novel Yonnondio, it is evident that the characters used bring out the idea of capitalism really well. Anna Holbrook believes that her children can evade the kind of life she was livin g by acquiring education. The author uses day- dreaming and imagination to bring out the ideas in Anna’s mind. Although she lives a poor life, she is willing to have changes in the life of her children whereby they live a better one than they have in their childhood. She has to undergo through beating from her husband every time he comes home drunk. She does not have a job as her husband, but the chores at home always leave her very exhausted. She has to act as the ideal homemaker, always finding food and laundering clothes. Despite doing all this duties, she has to deal with domestic violence (Olsen, 34). The violence she has to undergo has changed her personality to an extent that she beats her children to make up for the pain she feels. Although she does this, she still cares about her children. This is the reason she always emphases that education is the only best thing that her children deserve. Her children have lived a miserable life, and she is not willing to have the m pass through the same life. To have her goals achieved, she has made them believe that the only way they are going to overcome the experiences of the people living under capitalization, is by working in offices. If they are ale to get good jobs and be admitted in any office, they will abandon the miserable living conditions. As a way of motivating them, she assures them that their hands will become whiter. The author to show that people living under capitalization are always willing to overcome the experiences uses Anna. She is willing to use any method to overcome ideas in capitalism (Olsen, 43). The author shows that there is some evidence of love among these people. Jim always attempts to create a good life

Regulatory Responses to Short Selling

Regulatory Responses to Short Selling Abstract It is commonly believed that secondary market prices is not just a sideshow because they contain information that facilitates the efficient allocation of resources. The feedback loop to a real investment decisions allows a short seller to make a profit even in the absence of a fundamental information. This paper analyzes the regulation of manipulative short selling is to impose a cost on short sales. Through setting the short selling cost at an appropriate level, regulators may be able to drive the uninformed speculator, but not the negatively informed speculator, out of the market, and, thus improve the investment efficiency. One of the most fundamental roles of prices is to facilitate the efficient allocation of scarce resouces (Hayek, 1945). A financial market is a place where many speculators with different pieces of infomation meet to trade, attempting to profit from their information. Prices aggregate there diverse pieces of information and ultimately reflect an accurate assessment of firm value. Real decision makers (such as managers, capital providers, directors, customers, regulators, employees, etc.) will learn from this information and use it to guide their decisions, in turn affecting firm cash flows and values (Baumol 1965). In an efficient market, at any point in time market prices of securities provide accurate signals for resource allocation; that is, firms can make production-investment decisions according to stock price (Fama Miller 1972). Unlike the traditional models where prices only reflect expected cash flows, in the new models that incorporate feedback effect prices both affect and reflect firm cash flow. The feedback effect can explain this by two ways, several papers in the literature generate related implication based on models with exogenous feedback, i.e., where firm value or firms investment decison is assumed to be mechanically tied to the price (Khanna Sonti 2004 and Ozdenoren Yuan 2008). However, our focus here is on models that exhibit endogenous feedback, i.e, via learning or incentives. The latter one is through which financail markets may have real effects is by affecting a decision makers incentives to take real decisions, this is most relevant for firm managers, whose compensation is tied to the firms share price, in some sense is a way to discourage â€Å"agency problem†. Particularly, the former one is what we interested here, real decision makers learn from stock price and use it to aff ect real decision. The theoretical research on financial markets traditionally treats the real side of the firm as exogenous. Milgrom Stokey (1982) consider that if cash flows are exogenous, the only way to generate trade is to introduce noise traders in the model. Grossman Stiglitz (1980); Hellwig (1980) developed rational expectations equilibrium models of financial market, in which prices preform a well-articulated role in conveying information from the informed to the uninformed. Kyle (1985) developed a model that is closer to a game-theoretic approch, where the equilibrium concept is similar to the Bayesian-Nash Equilibrium, the information of speculator gets partially reflected in the stock price. However, Fishman Hagerty (1992); Leland (1992); Khanna, Slezak Bradley (1994); and Bernhardt, Hollifield Hughson (1995) present models where different types of speculators-insiders and outsiders-trade on their information, in these models, real decison makers learn from price, but, there is a confl ict between limiting insider trading reduces price efficiency and encouraging outsider trading reduces adverse selection. Similarly, Boot Thakor (1997) and Subrahmanyam Titman (1999) use the feedback effect to rationalize a firms choice to issue publicly traded securities, rather than receving private financing (e.g., from a bank). The traditional view of financial market is stock price has no real effect, thus speculator cannot manipulate stock price to get profit. It is often hard to generate manipulation as an equilibrium phenomennon, given that price impact will cause a manpulator to sell at a low price and buy at a high price and hence lose money overall (Jarrow 1992). Goldstein Guembel (2008) consider a model where the manager of firm learns from the stock price about the profitability of an investment project, thus, manipulation arise as an equilibrium phenomenon. Even the speculator has no information, she can drriven the price down to make the manager belive that there exist negative information, and led to cancel the investment, thus, she can get profit from her short position. Edmans, Goldstein Jiang (2014) extent their model to show that informed speculators are less likely to trade on bad news rather than good news. Consider a speculator who has negative information, if she short sell to lower th e stock price, the manager will learn from it to take corrective action such as reducing investment, downsizing the firm makes it efficient and improve the firms fundamental value, but this reducing the profitability of speculators short position. Thus, the informed speculator must consider this and refrain her short selling in the first place. The feedback effect has also some empirical supports. Luo (2005) show the companies seem to learn from the market during MA. Companies are more likely to learn in pre-agreement deals than in agreement deals. Companies are more likely to learn in non-high-tech deals than in high-tech deals. Smaller bidders are more likely to learn than are larger bidders. Kau, Linck Rubin (2008) extend his analysis and show that such learning is more likely when governance mechanisms are in place to reduce the agency problem between manager and the shareholders. Chen, Goldstein Jiang (2007) show that the sensitivity of investment to price is stronger when there is more private information incorporate into price. Our paper is continue the research question raised by Goldstein Guembel (2008), they provid an asymmetric model to explaine the uninformed speculator can manipulate the stock price to make profit and they suggest by impose a cost on short sales may eliminate this phenomenon, but they didnt anaysis the impact of short selling cost. Conditional the speculator being uninformed, the speculator can make profit for two reasons. First, he knows that the market will not improve the allocation of resources. Thus, he can sell at a price that is higher than the expected value. Second, the speculator can profit by establishing a short position in the stock and subsequently driving down the firms stock price by further short sales. In our analysis of short selling cost can deter the second sources of the uninformed speculators profit. The remainder of the paper is structured as follows. Section 2 gives a brief summary of regulatory response to short selling during the financial crises of 2007-2009 and the European sovereign debt crisis of 2011. Section 3 present the model set-up. Section 4 we derive the benchmark equilibrium when absent the feedback. Section 5 derive the equilibrium when the feedback present. Section 6 concludes. All proofs are in the Appendix. 2 Recent regulatory response to short selling As a result of the financial market turmoil in 2008, the SEC and a number of international financial market regulators put in effect a number of new rules regarding short selling. In July the SEC issued an emergency order banning so-called â€Å"naked† short sellingIn a naked short-sale transaction, the short seller does not borrow the share before entering the short position. In our model, we can consider the short selling cost is zero is a naked short-sale. in the securities of Fannie Mae, Freddie Mac, and primary dealers at commercial and investment banks. In total 18 stocks were included in the ban, which took effect on Monday July 21 and was in effect until August 12. On September 19 2008, the SEC banned all short selling of stocks of financial companies. This much broader ban initially included a total of 799 firms, and more firms were added to this list over time. In a statement regarding the ban, SEC Chairman Christopher Cox said, â€Å"The Commission is committed to using every weapon in its arsenal to combat market manipulation that threatens investors and capital markets. The emergency order temporarily banning short selling of financial stocks will restore equilibrium to markets. This action, which would not be necessary in a well-functioning market, is temporary in nature and part of the comprehensive set of steps being taken by the Federal Reserve, the Treasury, and the Congress.† This broad ban of all short selling in financial institutions was initially set to expire on October 2, but was extended until Wednesday October 9, i.e., three days after the emergency legislation (the bailout package) was passed. In addition to measures taken by the SEC, a number of international financial regulators also acted in response to short selling. On September 21 2008, Australia temporarily banned all forms of short selling, with only market makers in options markets allowed to take covered short positions to hedge. In Great Britain, the Financial Services Authority (FSA) enacted a moratorium on short selling of 29 financial institutions from September 18 2008 until January 16 2009. Also Germany, Ireland, Switzerland and Canada banned short selling of some financial stocks, while France, the Netherlands and Belgium banned naked short selling of financial companies. International restrictions on short selling of financial stocks reappeared in 2011. In August of 2011, market regulators in France, Spain, Italy and Belgium imposed temporary restrictions on the short selling of certain financial stocks as European banks came under increasing pressure as part of the sovereign debt crisis in Europe. For example, both Spain and Italy imposed a temporary bans on new short positions, or increases in existing short positions, for a number of financial shares. France temporarily restricted short selling for 11 companies, including Axa, BNP Paribas and Credit Agricole. On August 26, France, Italy and Spain extended their temporary bans on short selling until at least the end of September. Of course, measures against short selling are not exclusive to these recent episodes. In response to the market crash of 1929, the SEC enacted the uptick rule, which restricts traders from selling short on a downtick. In 1940, legislation was passed that banned mutual funds from short selling. Both of these restriction were in effect until 2007. Going back even further in time, the UK banned short selling in the 1630s in response to the Dutch tulip mania. We revisit the model in Goldstein Guembel (2008). Consider an economy with four dates tin{0,1,2,3} and a firm whose stock is traded in the financial market. The firms manager needs to take an investment decision. In t=0 , a risk-neutral speculator may learn private information about the state of the world omega that determines the profitability of the firms investment opportunity. Trading in the financial market occurs in t=1 and t=2. The speculator may suffers a short selling cost c;(c>0) when he short sales. In addition to the speculator, two other types of agents participate in the financial market: noise traders whose trades are unrelated to the realization of omega and a risk-neutral market maker. The latter collects the orders from the speculator and the noise traders and sets a price at which he executes the order out of his inventory. The information of the speculator may get reflected in the price via the trading process. In t=3, the managers takes the investment decision, which may be affected by the stock price realizations. Finally, all uncertainty is realized and pay-offs are made. Suppose that the firm has an investment opportunity that requires a fixed investment at the amount of K. There are two possible states omegain{l,h} that occur with equal probabilities. Firm valueTo simplifier the model, we do not include the assets in place in the expressions for the value of the firm, even including it will not affect our analysis. can be expressed as a function V(omega,k) of the underlying state omega and the investment decision kin{0,K}: There is one speculator in the model. In t=0, with probability alpha, the speculator receives a perfectly informative private signal sin{l,h} regarding the state of the world omega. With probability 1-alpha he receives no signal, which we denote as s=phi. There are two trading dates : t=1,2. In each trading date, the speculator submits orders u_{t}in{-1,0,1} to a market maker. There is a exogenous noise trader who submits orders n_{t}={-1,0,1} with equal probabilities. The market maker only observes total order flow Q_{t}=n_{t}+u_{t}, and therefore possible order flows are Q_{t}={-2,-1,0,1,2}. Moreover, it is assumed that a market maker faces Bertrand competition and thus sets the price for an asset equal to its expected value, given his information set: p_{1}(Q_{1})=E[Vmid Q_{1}] and p_{2}(Q_{1},Q_{2})=E[Vmid Q_{1},Q_{2}]. In our model, the price is a function of total order flows, thus, to ease the exposition, we assume that the speculator observes Q_{1}, and therefore can directly condition his t=2 trade on Q_{1} instead of p_{1}. Similarly, the firm manager observes Q_{1} and Q_{2} , and may use them in his investment decision. The equilibrium concept we use is the Perfect Bayesian Nash equilibrium. Here, it is defined as follows: †¢ A trading strategy by the speculator {u_{1}(s) and {u_{2}(s,Q_{1},u_{1})} that maximizes his expected pay-off, given the price-setting rule, the strategy of the manager, and the information he has at the time he makes the trade; †¢ An investment strategy by the firm that maximizes expected firm value given all other strategies; †¢ A price-setting strategy by the market maker {p_{1}(Q_{1}) and p_{2}(Q_{1},Q_{2})} that allows him to break even in expectation, given all other strategies; †¢ The firm and the market maker use Bayes rule in order to update their beliefs from the orders they observe in the financial market; †¢ All agents have rational expectations in the sense that each players belief about the other players strategies is correct in equilibrium. As a benchmark, we consider in this section there is no feedback from the financial market to the firms investment decision. We assume the firm manager known well the state of the world, and, thus, the investment decision in t=3 is not affect by the trading outcomes in the financial market in t=1 and t=2. For the speculator, if s=h , he knows that the firms value is V^{+}; if s=l, he knows that the firm value is 0; and if s=phi, he knows the expected firm value is frac{V^{+}}{2} . The market maker also starts with the expectation that the firm value is frac{V^{+}}{2} and updates this expectation after each round of trade. There exists multiple equilibria with no-feedback game when we impose the short selling cost c in t=1. Because there is no feedback and from the proof of Proposition 1., the short selling cost only affect to negatively informed speculator, in order to simplifier the model, we dont impose short selling cost at t=2 . If we impose short selling cost at t=2, we must distinguish not trade or sells in t=1 and buy in t=1 (see the feedback game). . For brevity, we do not develop a particular equilibrium here. The following lemma characterizes the strategy of the positively informed speculator in any equilibrium of the no-feedback game. Building on this lemma, the next proposition establishes an important result regarding the strategy of negatively informed speculator and uninformed speculator, which is the focus of this paper. The trading strategy is rather intuitive. The short selling cost does not affect positively informed speculators trading behavior, since he know the firm value is V^{+} and the firm manager does not learn any information from the stock prices, thus, it is a game only between speculator and the market maker, in the case his information was not revealed to the market maker, the positively speculator will not choose sells in t=1 and t=2. For the positively informed speculator, the only thing is try to hide his information to the market maker, otherwise, the price will equal to the true value of the firm V^{+} and he makes zero profit. The trading strategies are also rather intuitive. For the uninformed speculator, trading in t=1 without information generates losses because buying (selling) pushes the price up (down), so that the expected price is higher (lower) than the unconditional expected firm value. The uninformed speculator does not have the informational advantage over the market maker in t=1, and thus cannot make a profit if he is trading. He may choose trade in t=2 when the market maker set the price is not equal frac{V^{+}}{2}, in this case, he have the informational advantage, he knows each agents trading orders in t=1 and his own trading order in t=2. For the negatively informed speculator, if short selling cost is not too high, he may choose mixes the trading strategies like positively informed speculator in order to hide his information to the market maker; if the short selling cost is too high, he always get negative transaction profit in t=1, in this case, he would like not trade in t=1. In the no-feedback game, the short selling cost actually does not affect the trading behavior of the positively informed speculator and the uninformed speculator, it can only affect to the negatively informed speculator. It is worth noting that in the next section with feedback , the short selling cost will affect not only the negatively informed speculator, but also the uninformed speculator.

Jane Eyre :: essays research papers

â€Å"The passions may rage furiously, like true heathens, as they are; and the desires may imagine all sorts of vain things: but judgment shall have the last word in every argument, and the casting vote in every decision.†1 Such powerful words were found in the famous romance novels of Charlotte Bronte. Through her novels Jane Eyre and The Professor Bronte’s life experiences were reflected by her main characters as they sought independence, conceived images as symbols of important events in their lives, and they exhibited commitment to their goals.   Ã‚  Ã‚  Ã‚  Ã‚  Like Charlotte Bronte both William Crimsworth and Jane Eyre encountered hardships early in their lives therefore they sought independence. Crimsworth’s need to leave his brother Edward and Hunsden reflected the independence â€Å"[sought] by Charlotte in order to pursue her career as a governess.†2 Since Bronte’s mother died when Charlotte was very young her father allowed their aunt to educate and raise the children until they were old enough to seek a career. Their aunt was a stern woman and â€Å"was rather content receiving obedience than affection†3 which is similar to the character of Aunt Reed in Jane Eyre. Although Hunsden did not hold any blood relation to Crimsworth the relationship between the men was cold which forced Crimsworth to find separation form ridicule and harsh criticism as did Bronte from her aunt. The novel Jane Eyre further illustrated Bronte’s desires of seeking autonomy as the central character, Jane, r epresented the romantic relationship Bronte had experienced with her professor at the young age of 18. The storyline between Rochester and Eyre held true to the emotions of Charlotte Bronte because she felt the frustrations, helplessness, and happiness in a romance. â€Å"Isolation allow[ed]the heroine’s self-development, but it impede[ed] her romantic yearning to be thoroughly lost in love.†4 Yet, due to the hardships she faced in her romance Bronte still saw the need for separation from her beloved as did Eyre from Rochester and Francis from Crimsworth. Although it was hard for the author to leave her happiness, her frustrations were expressed in Jane Eyre:   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"I grieve to leave Thornfield . . . I love it, because I have lived   Ã‚  Ã‚  Ã‚  Ã‚  in it a full and delightful life. I have not been trampled on, I   Ã‚  Ã‚  Ã‚  Ã‚  have not been petrified . . . [However] I see the necessity of   Ã‚  Ã‚  Ã‚  Ã‚  departure; and it is like looking at death.†5 Albeit Jane and William faced the difficulty of pursuing independence from harsh family and romantic situations, most important to both characters was to find equality among their social statures.