Problem of the Drug Abuse Essay

The issue of youngsters sedate maltreatment isn't something that has jumped up lately. It has been one of the unsolved issues since numerous decades now. What's more, with modernization, the issue appears as though it is never going to leave. There could be a bunch of reasons for this issue, and there are additionally a few kinds of intricacies related with it. As you read further, you would understand the intensity of the reasons for sedate maltreatment among youngsters. Reasons for Drug Abuse Among Teenagers Professionally prescribed Drug Abuse Among Teenagers This has been seen as one of the most widely recognized reasons for chronic drug use, particularly in the adolescents. The term ‘prescription tranquilize abuse’, is evidently characterized as a condition wherein, the endorsed medication isn't utilized in a way the specialist prescribes the patient to. Which means, the individual takes higher dosages of the medications and regardless of whether his/her ailment is restored. The medications which are basic in this cases incorporate a wide range of agony executioners, drugs for tension or rest issue, and medications for activating energizer exercises. It has been discovered that most adolescents utilize these professionally prescribed medications with an idea that these are more secure than utilizing illegal medications. Nonattendance of Communication One of the powerful reasons for liquor and medication maltreatment among youngsters is a space that creeps in correspondence, presumably from the parents’ side. Most youngsters may have this idea that their folks probably won't care about them mishandling the medications. So this weights on the significance of correspondence among guardians and kids. All things considered, thinking about the particular threats and wellbeing worries of medication misuse, would assist youngsters with avoiding the propensity. In this way, work with your children and search for some genuine data as insights and clinical clarification about the symptoms of medication misuse. Oversight Continuing this information on medicate maltreatment among adolescents, it comes to parental management which can either spare young people from getting into the holds of medication misuse or sparing them from it. Guardians must offer significance to the way that their kids are still in their teenagers. This happens to be an age, where they remain the most defenseless against engage in all the bothersome things in their lives. Engage in your kids’ life and let them realize that you are keen on what they do and when they do. On the off chance that you are one of those guardians who simply let their children do whatever they if it's not too much trouble then you might be giving your kids a fine chance to get presented to drugs. Almost certainly, your children probably won't welcome the way that you are attempting to meddle a lot in their lives. Nonetheless, it is likewise evident that, in the event that you do as such, your children would be the ones to thank you later in their lives, when they accomplish a developed degree of comprehension pretty much all the repercussions of medication misuse. So don’t be too severe about nor excessively detached from your kids’ life. Effectively Available The reality remains that young people get the chance to take in the greater part of the things from their folks. As a parent, on the off chance that you are arranging a gathering where liquor is served, at that point your children would accept it as an unmistakable sign or message, that you have no issue with drinking liquor. This is the place, you remain to be the primary guilty party for urging your children to get powerless for tranquilize misuse. Likewise, most guardians unconsciously let their children approach liquor, cigarettes, and even professionally prescribed meds, when they are not at home. Indeed, even along these lines, adolescents may utilized this indiscretion of their folks as a chance to at any rate take a stab at utilizing every single such stuff. Stress Causing Factors Broken connections, issues in the family, stress caused because of friend pressure, examines load, and so forth., are a portion of the basic elements which trigger worry in teenagers’ life. These may likewise be the causes which drive them to turn to the utilization of medications. Along these lines, these were a portion of the powerful reasons for medicate maltreatment among adolescents. To the extent the treatment is thought of, on the off chance that measures are taken at a beginning time, at that point the condition might be very much checked before it deteriorates any further. Something else, sedate maltreatment recovery is known to be a compelling apparatus for the treatment. What's more, discussing the medication misuse anticipation, the most significant activity lies in light of a legitimate concern for guardians. On the off chance that they can decrease the open doors their children get themselves into, at that point there is no other better approach to keep the condition under control.

First Dental Visit

I will always remember the first occasion when I went to the dental specialist. Individuals around the globe accept that setting off to the dental specialist is a torment. ?It will be the most exceedingly terrible experience of your life? they said to me. Photographs of somebody opening your mouth and putting something inside my mouth gave me bounces of uneasiness. Such instruments around the dental office, the sparkly blades, the flawless white room and the picture of the doctor’s impeccable teeth, all that made my pulse expanded and I had a feeling that I was on an exciting ride. Since my first time in a dental office was not as everybody and including myself expected to be.It was a winter day and my mom and I got up at 5:00 a. m. to show up before the expected time at the Dental office. At the point when I showed up to the workplace a rush of feelings and the upsetting smell of medication jumped over me, and there were at that point individuals framed and sat tight for the specialist. The lounge area was white and on each divider there were put emotional photographs of a solid and grimy mouth, of sound teeth and teeth with rots, or ? Previously/After? photographs. While my mom sat in an unfilled seat, I felt the addition in my circulatory strain as I stood by to get notification from the assistant each patient’s name.Clusters of magazines were lying on the earthy colored gleaming table, every one shouting out pictures of the human mouth. I took a gander at each edge of the room. Around one hour after I showed up, a man of hearty composition, puncturing eyes, a manufactured grin, and with a white robe entered and welcomed us. The primary thing I saw was his robe, and as a lightning punctures a cloud, my first idea was ? He is the dental specialist.? After the specialist entered his office, I pivoted to see the essences of each parent with their apprehensive youngster who were attempting to dodge an eye contact.The entryway prompting the dental o ffice made a commotion that was amazingly ghastly to my ears. I was unable to take my eyes off the photographs that went on the defensive. It must be my creative mind, however I was at that point feeling the cool metal slamming into my teeth and the agony brought about by it. Individually, the assistant called each patient’s name and when a youngster entered the workplace at times it is heard a shout from inside the workplace where the kid had vanished. The parents’ faces were of impatience.I perceived how all the kids were gazing at their folks with dread in their eyes. Around two hours after of my inward petrifaction an unexpected tapping of obeyed shoes awoken me, a lady in white uniform originated from the passageway with something like a book. I admired see better the individual that was calling my name. An unexpected stun of feeling was available noticeable all around, my heartbeat dashed, and my hands sweat. I was strolling down a hall brimming with all the more startling photographs. A breath got away from my lips and straight away I swallow the bump that has collected in my throat.When I pictured a white entryway, I halted and I could see a paper with the name of the dental specialist. As I entered I could see everything that was kept in there. A major blue seat jutted among the various things inside the room secured with cold hard metal machines sparkling like stating ‘Welcome'. I saw a plastic cup in one of the handles of the seat and close to it there was something like blades of various sizes. At the left half of that large seat there was the individual that would cause torment in my teeth. As I sat in the seat, a moment surge of adrenaline went through my body.With a little mirror the specialist started to check my teeth. At that point there was an attack of stomach-turning as the specialist took an instrument from the table. The sterile smell of the workplace caused me a stomach-throb. My blood siphoned into my head. In the m ean time some virus metal was going into my mouth, I understood that I couldn't move however not on the grounds that the machines were working but since I was in stun when I saw the abrupt tickling inside my stomach. My eyes sparkled with feelings. The principal dental counsel was not that hard as individuals depicted it.

A Beginners Guide to BookTube

A Beginners Guide to BookTube BookTube may sound like a root vegetable, but it’s actually an incredibly vibrant community of people who vlog (that’s video blog for those of you who are unfamiliar with the lingo) about books on YouTube. There’s something for everyone on BookTube, from hilarious reviews of 50 Shades of Grey… [youtube]http://www.youtube.com/watch?v=DRH8fc3hyxk[/youtube] …to stop-motion videos of books getting their groove on… [youtube]https://www.youtube.com/watch?v=SKVcQnyEIT8[/youtube] …and animated shorts, like this one about a girl who hates to read and has to tackle the biggest, baddest TBR stack ever. [youtube]https://www.youtube.com/watch?v=1Efrg23Sqe8[/youtube] There are tons of amazing BookTube channels out there. John Green and his brother, Hank, make up the VlogBrothers, the hit channel that spawned the mega-fandom/bastion of awesomeness that is Nerdfighteria. The show isn’t strictly about books, but the Green brothers are involved in other bookish YouTube projects as well. John teaches literature on CrashCourse and Hank is heavily involved with Pemberley Digital, the company that produced The Lizzie Bennet Diaries, Welcome to  Sanditon, and Emma Approvedâ€"all modern-day episodic adaptations of Jane Austen novels. [youtube]https://www.youtube.com/watch?v=JgDwaJ0WCVE[/youtube] The creativity in the booktubesphere (that is definitely a real word) never ceases to amaze me. Take, for example, CSLewisDoodle, a channel that features live action illustrations of C.S. Lewis essays. [youtube]https://www.youtube.com/watch?v=D3MWVMKKY3A[/youtube] Then there’s Thug Notes, a channel that summarizes and analyzes classic books in the language of the gangsters. For those that don’t speak gangsta, it gives a whole new perspective on literature. I don’t believe I’ve ever heard Heathcliff from Wuthering Heights referred to as an emo landlord before. It’s the shizzle nizzle, yo. (You’re right, I have no idea what that means, but it sounds hardcore.) [youtube]https://www.youtube.com/watch?v=-oU0PtX85DY[/youtube] There are also a huge number of “traditional” BookTubersâ€"people who do pretty much the exact same thing as the rest of us book bloggers, but in video format. Here are a few of my favorites: The Readables  covers everything from YA to classic literature. Thanks to good lighting, editing, and amazing graphic artistry, this channel is one of the most visually stunning on BookTube. [youtube]https://www.youtube.com/watch?v=l8xgBlafsqU[/youtube] Elizziebooks is a cornerstone of BookTube. She has her finger on the pulse of the book vlogging community and does a weekly BookTube News feature. Little Book Owl is Australian, has pink hair, and loves to read. Nuff said. [youtube]https://www.youtube.com/watch?v=Ab2BWdNZ3Swindex=5[/youtube] booksandquills has an MA in English Literature and vlogs about everything from YA to sci-fi to the classics. Other terrific BookTube channels you should definitely check out include: ArielBissett, Benjaminoftomes, Bookables, BookRatMisty, CassJayTuck, Chapter Chicks, GingerBookNerd, jessethereader, Katytastic, padfootandprongs07, PeruseProject, polandbananasBOOKS, priceiswong,  rincey reads, and TheEighthPotter. There are thousands of other amazing bookish YouTube channels out there. What are some of your favorites? ____________________ Did you know that Book Riot has a  YouTube channel? We do. It’s new and we are having fun with it. Check it out  here.

Christianity On-line Essay - 1340 Words

Christianity On-line On-line communities are a foreign concept to me. I have never joined one, or even been curious to see what they are like. The only experience I have had with them is in middle school when I used to go into chat rooms and talk to other teens. The only conversation involved there was about music and movies. It has been years since I have ventured into anything on-line except for checking my e-mail or downloading music. In order to write about on-line communities, the assignment given to the class I am in, I had to go on-line and explore the culture myself. Since I had no idea what server to use or what sites were popular, the task was a little daunting. The first thing I looked at was The Lost†¦show more content†¦The first one I went to was one on hip-hop music; it was a topic that interested me. I assumed that it would have interesting posts about how people interpreted the lyrics to songs and what personal value a song had to them. It turned out to be a homepage with topics like Why did political rap die out? and Is Tupac really dead? Political rap hasnt been popular since the early 1990s and Tupac was a famous rapper who got shot about three years ago but his record label is still releasing his work. The site obviously had not been updated in a while. There were about 5 or 6 people that voiced their opinion with only a sentence or two of effort put into it. Many that responded to Why did political rap die out? felt that rap today is influencing children to take the easy way out and place all value on money. Since there was a small amount of people in each forum, I decided to go look at a topic where more peo ple would be involved. I went to America On-lines communities , and started reading topics in Christianity. There were many fundamentalists posting their thoughts on why everyone should love Jesus. Like in reality, everyone has their niche where he likes to go for religion, and there are the conservatives and liberals. In the midst of the preaching, there were discussion boards on Atheism and how the Bible can refute those arguments. It was evident an on-line survey had been done in order to compile a list ofShow MoreRelatedChristianity And Paganism In Beowulf1005 Words   |  5 PagesPaganism was the Geats first religion, and once Christianity became introduced, the religion slowly shifted from paganism to Christianity. Beowulf has successfully exhibited the transition from paganism to Christianity. The epic poem has a shift from Christianity to paganism throughout the poem. There are many symbolic examples that successfully display the transition from paganism to Christianity in the Geat culture. Beowulf displays both Christianity and paganism using several examples throughoutRead MoreThe Discovery Of The Traditional Orthodox Form Of Christianity939 Words   |  4 Pagesperception of knowledge and was considered to be a heresy that was condemned by those who followed the traditional Orthodox form of Christianity. In the second century the movement of Gnostic Christianity occurred; it is also referred to as a Christian sect (Carus). Though people viewed Gnostic Christianity as a sect, it has never been denied that Gnosticism is older than Christianity and the relation and importance between the two groups have never been acknowledged (Gnostic Discoveries). Since the discoveryRead MoreComparing and Contrasting Anglo-Saxon, Medieval, and Renaissance Perio1410 Words   |  6 Pages living down/ In the darknessÂ…(lines 1-2). This affray demonstrates the timeless battle of good versus evil. The universal struggle is maintained in the Medieval plight for an ideal of perfect c hivalry. 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He is till this day considered one of the greatest poets that ever lived. To understand the meaning of William Butler Yeats poem The Second Coming, you must first understand the difference between Christianity and Paganism. Yeats was raised as a Christian and turned to pagan mysticism later in his life. Therefore, we can find the subject of this poem by tracing his flow of thought through Christianity up to the point when he diverged from it. Christianity is based aroundRead MoreEssay on Beowulf is a Christian Poem1371 Words   |  6 Pagesthe time the poem was written, Anglo Saxons had converted from Germanic Paganism to Christianity. Some people argue that it was a Pagan poem rewritten by a person or persons educated in Christianity. â€Å" has come down from heathen times and acquired its Christian character gradually and piecemeal from a succession of minstrels.† ( Hector Monro Chadwick as quoted by Brodeur 182), while others believed that Christianity and Paganism both belonged in the poem. â€Å"almost without exception so deeply ingrainedRead MoreEssay on The Allegory of The Rime of the Ancient Mariner876 Words   |  4 Pagessin against Nature was seen as a sin against God. In line 82 of the poem, the Mariner simply says, I shot the Albatross. In saying this, the reader often questions why the bird was shot. There is no explanation. The Albatross was shot without reason or motive very much like the sin of humans. Here the poem begins to take on its allegorical purpose in which the Albatross symbolizes not only sin, but possibly Jesus as well. In Christianity, Jesus died upon the cross for the sins of humanity.Read MoreAnalysis Of Dickinson s Poem The Bible 924 Words   |  4 Pages Dickinson’s poem 1545 contains multiple meanings and interpretations. It is a criticism of Christianity, however, she criticizes in a rather witty way. Throughout this piece of literature, she uses words that have many meanings to dig at the bible and people’s narrow-minded beliefs within the sacred text. Dickenson also uses repetition to draw attention to certain words. Perhaps the ultimate gibe is that she takes seemingly long, complicated, and popular biblical stories and shortens them to fourRead More THE SECOND COMING BY WILLIAM YEATS Essay1286 Words   |  6 PagesPaganism from Christianity. He is till this day considered one of the greatest poets that ever lived. To understand the meaning of William Butler Yeats poem â€Å"The Second Coming†, you must first understand the difference between Christianity and Paganism. Yeats was raised as a Christian and turned to pagan mysticism later in his life. Therefore, we can find the subject of this poem by tracing his flow of thought through Christianity up to the point when he diverged from it. Christianity is based aroundRead MoreThe Rood And Sir Gawain And The Green Knight933 Words   |  4 PagesKnight, it is the same, Christianity wins over courtly values. When Gawain makes the decision to be a part the Green Knight’s game, taking that treacherous journey from home, he was doing it show how much of a great knight he was, but in the end it was not his sword that helped him make it back home. These tales show how a courtly heroic code of honor contests a Christian model of living. In The Dream of the Rood, the first speaker or dreamer shows you that he chooses Christianity over anything else when

What is Meant by Market Effciency - Free Essay Example

Sample details Pages: 8 Words: 2283 Downloads: 5 Date added: 2017/06/26 Category Economics Essay Type Essay any type Did you like this example? Market efficiency has been a topic of interest and debate central amongst financial economists for more than five decades. Indeed, two of the recipients of the Nobel Memorial Prize in Economic Sciences in 2013, Eugene Fama and Robert Shiller, have debated about the efficiency of markets since the 1980s. Concerns about market efficiency were catapulted to prominence most recently by the financial crisis of 2007-8. Don’t waste time! Our writers will create an original "What is Meant by Market Effciency?" essay for you Create order Efficient capital markets are foundational to economic theories that posit the allocative efficiency of free markets, which requires informationally efficient capital allocation markets, such as those for equity and fixed income trading. An extended line of research has uncovered evidence of various anomalies which seem to challenge notions of market efficiency, and has also attempted to explain the causes of one such anomaly, the so-called size effect. Though there appears to be substantial evidence that the size effect is real and persistent, violating the efficiency market hypothesis, no substantial evidence supports the size effect as violating market efficiency. Market Efficiency Refers to the efficiency with which markets allocate savings amongst competing investments. In an allocationally efficient market, scarce savings are optimally allocated to productive investments in a way that benefits everyone (Copeland, et al., 2005, p. 353). To provide optimal investment allocation, capital prices must provide market participants with accurate signals, and therefore prices must fully and instantaneously reflect all available relevant information (Copeland, et al., 2005). In advanced economies, secondary stock markets play an indirect role in capital allocation by revealing investment opportunities and information about managers past investment decisions (Dow Gorton, 1997). For secondary stock markets, and other formal capital markets, to efficiently and effectively fulfill these two roles, securities prices must be good indicators of value (Fama, 1976, p. 133). Therefore, allocative market efficiency requires capital market prices to be informational effic ient. Informational efficiency implies no-arbitrage pricing of tradeable securities and entails several defining characteristics that form the basis of the efficiency market hypothesis. Generally, A market is efficient with respect to information set ÃŽËÅ"_t if it is impossible to make economic profits by trading on the basis of information set ÃŽËÅ"_t (Jensen, 1978, p. 98), where economic profits are defined as risk-adjusted returns minus trading and other costs. If security prices reflect all available relevant information, such as P/E ratios and past return variances, then it would be impossible to to use such information to profitably trade these securites. Therefore tests of the possibility of using publicly available information to earn economic profits constitute tests of infomational effiency. Tests of informational market efficiency generally take three forms, and comprise the elements of the efficient market hypothesis. Fama (1969) defined the three forms of ma rket efficiency as the weak, semi-strong and strong form, with each form characterised by the nature of the information central to its application. Weak form efficiency tests are tests of the viability of using past price history of the market to predict future returns (which is a necessary, but not sufficient, condition for trading for economic profits). The semi-strong form of the efficienct market hypothesis tests whether all publicly available information could be used by traders to earn economic profits. And finally, the strong form of market effiency tests the viability of using all information, public as well as private, to generate economic profits. In the literature and amongst practicioners, it is the semi-strong form which represents the accepted paradigm and is what is generally meant by unqualified references in the literature to the Efficient Market Hypothesis' (Jensen, 1978, p. 99). And though some references to market efficiency allude to the allocative efficiency of markets, the term market efficiency usually refers to informational efficiency as operationally defined by Famas efficiency market hypothesis, specifically the semi-strong formulation. Since its formulation in the late 1960s, researchers have conducted thousands of tests of the efficiency market hypothesis and have found various anomalies, such as the size effect, which appear to violate the market efficiency. Banz (1981) examined NYSE-listed common stock returns between 1936 and 1975 and found stocks with the smallest market capitalisaation earned a risk-adjusted return 0.40% per month higher than the remaining firms in his sample, which was the first evidence that the size effect posed a challenge to semi-strong form efficiency. Analysing a sample of 566 NYSE and AMEX stocks over the 1963à ¢Ã¢â€š ¬Ã¢â‚¬Å"1977 period, Reinganum (1981) found that portfolios constructed based on size exhibited predicatability of future returns, with the smallest sized portfolio outperforming the largest decile by 1.77% per month. Keim (1983), testing NYSE and AMEX stocks over the 1963-1979 period, reported a size premium of approximately 2.5% per month. Lamoureux Sanger (1989) found a size premium for NASDAQ stocks (2.0% per month) and for NYSE/AMEX stocks (1.7% per month) over the 1973 to 1985 period. Fama French (1992, p.438) concluded, The size effect (smaller stocks have higher average returns) is robust in the 1963-1990 returns on NYSE, AMEX, and NASDAQ stocks. Though evidence continued to mount of a size effect, which entails that average stock returns of firms with small market capitalisation were significantly higher than the average returns for large capitalisation firms, Fama and Frenchs paper preceded decades of research regarding explanations for the size effect and its possible implications. Over the years researchers have offered a variety of empirical explanations, some of them mutually exclusive, for the size effect. Robert Merton (1987) argued that sm aller firms have smaller investor bases and are less likely than larger firms to enjoy an institutional following amongst investors, making smaller firms less liquid and cheaper, which resulted in greater risk-adjusted returns. Chan Chen (1991) asserted that smaller firms are more likely than large firms to either be distressed or only marginally profitable, and therefore small firms prices are more responsive to changing business conditions, which loaded the size effect. Fama French (1993, p.5) formed 25 portfolios of securities based on size and book-to-market and found that these portfolios constructed to mimic risk factors related to size and BE/ME capture strong common variation in returns, no matter what else is in the time-series regressions. This is evidence that size and book-to-market equity indeed proxy for sensitivity to common risk factors in stock returns. Verifying their argument that the size effect was a proxy for common risk factors, Fama French (1995) found evi dence that firm size loaded profitability risk into the cross-section of stock returns. These, and other, empirical findings shed light on possible reasons for the size effect, but a consensus explanation never developed around a single cause. In contrast to the empirical and economic explanations for the size effect, some researchers questioned whether the size effect existed at all. Shumway Warther (1999) argued that the small firm effect is essentially a statistical illusion, related not to actual share prices but to market microstructure issues which inhibit proper measurement of price movements. They examined prices of NASDAQ-listed firms from 1972 to 1995, a period previous research associated with significant size effect, and found that after considering delisting bias (by accounting for delisted firms final price movements before removal from the sample), the size effect disappeared completely. Wang (2000) argued along similar lines, contending the size effect resulted f rom survivorship bias. He argued that small stocks are relatively more volatile and therefore more likely than large firms to be delisted due to bankruptcy or failing to meet listing requirements. These delisted stocks are often excluded from the samples studied for the size effect, which would bias the returns of small stocks upwards. Wang (2000) used simulation experiments to test for the likelihood of the small firm effect under such circumstances and concluded that the effect was spurious. Examining all of the above explanations and others, Dijk (2011, p. 3272) concludes, The empirical evidence for the size effect is consistent at first sight, but fragile at closer inspection. I believe that more empirical research is needed to establish the validity of the size effect. Though the causes of the size effect are interesting and remain an important topic of debate, more important are the possible implications of the size anomaly for the efficiency market hypothesis. The size ano maly appears to present a violation of efficient markets, especially to those observers who wrongfully presume that market efficiency implies stock prices must follow a random walk; however, no researcher has yet to show that information related to firm size can be leveraged by traders to earn economic profits. Recalling Jensens (1978) definition of informational efficiency, the size effect violates market efficiency only if such information could be used to generate risk-adjusted abnormal returns. Though the size effect may indicate that stock returns are predictable, if transaction costs are very high, predictability is no longer ruled out by arbitrage, since it would be too expensive to take advantage of even a large, predictable component in returns (Timmermann Granger, 2004, p. 19). Therefore return predictability invalidates market efficiency when it produces risk-adjusted returns that subsume transaction costs. According to Stoll and Whaley (1983), who test whether the size anomaly can be exploited to earn risk-adjusted returns greater than transactions costs, find it is not possible for the sample of NYSE-listed firms examined over the 1960 to 1979 period. This is due in part to the relatively insignificance of small firms in relation to the market as a whole. As noted by Fama (1991, p. 1589), the bottom quintile [of stocks] is only 1.5% of the combined value of NYSE, AMEX, and NASDAQ stocks. In contrast, the largest quintile has 389 stocks (7.6% of the total), but it is 77.2% of market wealth. So, even if the size effect is granted perfect validity, it does not necessarily negate the efficient market hypothesis. A final set of reasons ameliorating concerns about the size effects threat to market efficiency is related to model specification. Abstracting from the specific arguments related to size effects, consideration of the joint hypothesis problem dampens concerns that size effects could be determined to violate market efficiency. Roll (1976) no ted that the pricing models used to test market efficiency were also necessarily testing the validity of the specification of the market model (specifically, the validity of the market model proxy), which means that researchers models were necessarily underspecified. Violations seemingly attributable to the size effect, or any other apparent anomaly, can always be attributed to mispecification of the market model or mismeasurement of the market proxy, making it impossible to definitively infer anamolous behavior as evidence of market efficiency. Additionally, this time pointed out by Fama (1991, pp. 1588-9), small-stock returnsà ¢Ã¢â€š ¬Ã‚ ¦are sensitive to small changes (imposed by rational trading) in the way small-stock portfolios are defined. This suggests that, until we know more about the pricing (and economic fundamentals) of small stocks, inferences should be cautious for the many anomalies where small stocks play a large roleà ¢Ã¢â€š ¬Ã‚ ¦. Therefore, though there seems t o be robust evidence for a size effect, transaction costs overwhelm risk-adjusted returns and model specification concerns generally blunt notions that size effects can be shown to disprove market efficiency. The global financial crisis of 2007-8 renewed prominent calls for dispensation of the notion of efficient markets, as the allocative efficiency of markets seemed in doubt after so much capital appeared to be wasted on ill-advised investments. But efficient market allocation of investments relies not on ex post views of past downturns, but on ex ante decisions about future investment opportunities. Efficient markets imply that all relevant information is impounded in current asset prices, maximising market participants ability to allocate investment, which necessarily implies that the future is unpredictableà ¢Ã¢â€š ¬Ã¢â‚¬ market efficiency prohibited the ability to forecast the financial crisis, as the model predicts. Alternatively, a long line of research has examined the possibility that anomalies, such as the size effect, disprove market efficiency. The size effect, however, though an interesting puzzle regarding the cross-section of stock returns, does not disprove market efficiency. References Banz, R., 1981. The relationship between return and market value of common stocks. Journal of Financial Economics, 9(1), pp. 3-18. Chan, K. Chen, N., 1991. Structural and Return Characteristics of Small and Large Firms. The Journal of Finance, 46(4), pp. 1467-84. Copeland, T., Watson, J. Shastri, K., 2005. Financial Theory and Corporate Policy. Fourth ed. London: Pearson. Dijk, M. A. v., 2011. Is size dead? A review of the size effect in equity returns. Journal of Banking Finance, 35(12), pp. 3263-74. Dow, J. Gorton, G., 1997. Stock Market Efficiency and Economic Efficiency: Is There a Connection?. The Journal of Finance, 52(3), pp. 1087-1129. Fama, E., 1969. Efficient Capital Markets: A Review of Theory and Empirical Work. The Journal of Finance, 25(2), pp. 383-417. Fama, E., 1976. Foundations of Finance. New York: Basic Books. Fama, E., 1991. Efficient Capital Markets: II. The Journal of Finance, 46(5), pp. 1575-1617. Fama, E. F. French, K. R., 1992. The Cross-Section of Expected Stock Returns. The Journal of Finance, 47(2), pp. 427-465. Fama, E. F. French, K. R., 1993. Common risk factors in the returns on stocks and Bonds. Journal of Financial Economics, 33(1), pp. 3-65. Fama, E. F. French, K. R., 1995. Size and Book-to-Market Factors in Earnings and Returns. The Journal of Finance, 50(1), pp. 131-155. Jensen, M., 1978. Some Anomalous Evidence Regarding Market Efficiency. Journal of Financial Economics, 6(2/3), pp. 95-101. Keim, D. B., 1983. Size-related anomalies and stock return seasonality: Further empirical evidence. Journal of Financial Economics, 12(1), pp. 13-32. Lamoureux, C. G. Sanger, G. C., 1989. Firm Size and Turn-of-the-Year Effects in the OTC/NASDAQ Market. The Journal of Finance, 44(5), pp. 1219-1245. Merton, R., 1987. A Simple Model of Capital Market Equilibrium with Incomplete Information. The Journal of Finance, 42(3), pp. 483-510. Reinganum, M. R., 1981. Misspecification of capital asset pricing: Empirical anomalies based on earnings yields and market values. Journal of Financial Economics, 9(1), pp. 19-46. Shumway, T. Warther, V. A., 1999. The Delisting Bias in CRSPs Nasdaq Data and Its Implications for the Size Effect. The Journal of Finance, 54(6), pp. 2361-79. Timmermann, A. Granger, C. W., 2004. Efficient market hypothesis and forecasting. International Journal of Forecasting, 20 (1), pp. 15-27. Wang, X., 2000. Size effect, book-to-market effect, and survival. Journal of Multinational Financial Management, 10(3-4), pp. 257-73.

Rights and Freedoms - 766 Words

POS – 301 January 15, 2013 Mr. Elliott Rights and Freedoms What would it be like if we as American citizens did not have any rights or freedoms? Thankfully we will never have to worry about thanks in regards to our founding fathers and the Bill of Rights. In this essay I will discuss which freedom in the First Amendment to the Constitution is most relevant to me personally. I will also analyze and discuss the significance of the Bill of Rights and subsequent notable amendments to the U.S. democracy. Finally, I will discuss the process for amending the Constitution and give my opinion on whether it is a â€Å"fair† process or not. The First Amendment The freedom guaranteed to me in the First Amendment to the Constitution that is most†¦show more content†¦I believe that the process for amending the Constitution is as fair as it can possible be. Congress is put in place by â€Å"we† the people so any amendment that they propose would seem to be what is in the best interest of the people. I think that it is good that the proposed amendment has to be issued to each state for ratification. What is good for one state is not necessarily good for all the states. Each state gets a chance to approve or deny the proposal and the majority wins, so to speak. If enough states vote to amendment a part of the Constitution I think that it is probably in the best interest of everyShow MoreRelatedCharter Of Rights And Freedoms1345 Words   |  6 Pages Charter of Rights and Freedoms The Canadian constitution is the foundation that forms and brings together our nation government and its legal system. You can also consider the constitution as a rulebook. It contains rules and regulations that political parties must follow in order to adopt, amend, or revoke a law. The constitution has three main sources. In 1867 the British North American Act passed, which was the first source of the constitution. 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Sylvia Plath was one of the se... free essay sample

Sylvia Plath was one of the self-motivated and well-regarded poets of 20th century. Plaths personal tragedies led to her poetries. These poetries have strange and frightening tone that foreshadows the tragic death of the author. She was already in the literary community by the time she took her life at age 30. Her poems show pain, hate, mistrust, darkness, and the need for acceptance and love, that is how she portrayed her life. Plath was threatened by male dominance which is why most of her poetry was driven by anger and vengefulness toward her domineering husband Ted Hues. Her poetry also explores her attachment to her father, who she described as another controlling figure. During much of Plaths adult life depression and suicide attempt took place and it became the subject of her most famous poems. However, Plaths poetry became a voice against female subordination which were relatable issues to many women in that period. We will write a custom essay sample on Sylvia Plath was one of the se or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In three of her most well-known work are Lady Lazarus, The Applicant and Daddy, Sylvia Plath empowers all the women by revealing her own personal struggle against a male dominant society and thus creating a strong feminine voice. Her poetry is not just autobiographical, it is also confessional in the sense of documenting her feelings, which are often confrontational. Plaths complicated relationship with her father inspired her to write Daddy which expresses her emotions towards her fathers life, death. Plaths father died when she was only 10. This was the time when she pictured him as hero. After growing up she started to compare him to a Nazi because she figured out the flaws within her father. She could express love for her father in the poem as he passed away but she didnt. Plath described her dad as a man who wouldnt let her speak. Because in the poem she wrote In Daddy, Plath wrote, The tongue stuck in my jaw. / It stuck in a barb wire snare. / Ich, ich, ich, ich, / I could hardly speak. Plath also stated, You died before I had time. This represents the male-controlled nature of the era in which Plath lived. During that period, men didnt care about what a woman had to say. Shes highlighting the fact that men made all the decisions on their own and gave no power to women which made women voiceless and powerless. Plaths failed marriage with Ted Hughes also helped in the making of Daddy. Plaths failed marriage with Ted Hughes also helped in the making of Daddy. Not only does it express her emotions towards her father, but also her husband. Plath found many connections between her father and Ted Hughes, in a few of her poems; she compares them to the devil, vampires and even Nazi. Basically, she was depressed all her life and committed suicide.Since ancient time, women were neglected in the society. Many writers such as Sylvia Plath wrote against male dominant cultures and systems. She used her personal problems to speak about cultural concerns many of which apply to womens struggle and evolution in modern society. The poem Lady Lazarus deals with the consequences of failed suicide attempts. Sylvia Plath had suffered from depression and it can be easily known if someone reads her poems. In the poem she introduces the speaker as Her Doktor and the central metaphor is, a lady named Lazarus who survived several suicide attempts. Its about her suicide attempts and coming back from them. She also talks about her suffering because she compares her skin to Nazi lampshade. This is significant because Nazis used to use the skin of Jew people to make the lampshades. Plath uses this shocking metaphor to compare her suffering to the people of concentration camps. At the end of the poem she wrote, Out of the ash I rise with my red hair and I eat men like air (Plath) This evidence proves her rage against males and the urge to take revenge against them. This poem again proves her cultural objectification.