How does globalization affect financial markets Research Paper

How does globalization affect financial markets - Research Paper Example This is because globalization has created a wide-ranging affects in the financial markets of various economies. This essay will focus on the quantitative and qualitative analysis of globalization of the financial sector. The essay will use descriptive statistics to conduct the quantitative analysis. The paper will explain the impact of globalization in the capital, investment and the exchange rate market. The studies of the essay will help the researcher analyze the advantages and disadvantages of globalization in the global financial market. It will show how a single change in the financial market of one nation in the current world can affect the market conditions of all the other economies. Contents Contents 3 Introduction 4 Situation Analysis 5 Conclusion 17 References 18 Introduction The report will throw a light on the impact of globalization in the financial market. In order to implicitly analyze this statement, the paper will utilize both theoretical and technical tools of res earch analysis. After completing the analysis, the researcher will conclude with the empirical analysis. This is the era of globalization and liberalization. Globalization is the process that involves the international integration between the nations that takes place from the interchange of ideas, products, world views and culture between nations. In the contemporary world, the economic development of any economy is not possible without the effective contribution of globalization. Any development in the transportation, communication or internet segment of the market is only feasible with the contribution of globalization. This process has helped countries augment the living standard of individuals and substantially helped them to experience the usage of new goods and services. The growth of business activities in the modern economies has shown the requirement for contribution of financial sectors. The financial segment of any country includes the commercial banks, non-banking financ ial institutions and the central banks of the countries (Kang & Paper, 2007). The globalization process has largely influenced the performance of the financial sectors of different countries. The exchange rates now are flexible in order to compete and cope up with the machineries of globalization. Globalization in the world economy has facilitated large capital flows between countries. The monetary authorities between nations are largely entangled with each other due to the globalized state of affairs in the contemporary market system. Capital rising, globalization of the equity markets, domination of the financial sectors in different economies and maximization of the investment returns are all the functions that have enveloped the current world market due to the emergence of globalization. The integration of the financial system between countries has only taken place due to globalization (Baldwin, 1999). Situation Analysis Financial Market in the Modern Economies: The financial ma rket refers to the markets where the trade involves financial securities or commodities. The transactions are made at low cost and the prices at which the transactions are made reflect the demand and supply of such financial products. The banking and non-banking financial institutions that facilitate the trading of such financial products are also included in the financial markets. There are a lot of activities in the financial

The Definition Of Sustainability Engineering Essay

The Definition Of Sustainability Engineering Essay A Sustainable development is a development which meets the needs of the present without compromising the ability of future generations to meet there own needs. The natural environment is the source of all substances that sustain human life on this planet and is also an invaluable sink for our wastes. Because of this it is vital that it doesnt get worn out or become unusable. This is where sustainability comes into play. With the right techniques, measurement and implementation of policy or even law, we, as a race, can act in a sustainable manner and take what we need from the planet without causing it harm. This can be applied from the biggest city down to the smallest design project. (Sustainable development for engineers. Karel Mulder) The History of Sustainability The idea of sustainability as we know it emerged in a series of summits and reports during the 1970s and 1980s. The UN Stockholm Conference on the Human Environment, in the year 1972, marked the first great international meeting on how human activities and treatment of the earth were harming the environment and putting the human race at risk. The 1980 World Conservation Strategy promoted the idea of environmental protection in the self-interest of the human race and in the interest of the planet. The Brundtland report said that the halting of economic development was not a feasible option, but it must change to work with the planets ecological limits. It also popularized the term sustainable development (http://www.sustreport.org/background/history.html). It was the World Commission on Environment and Development that brought the idea of sustainable development into broader dissertation. Saying this, it was not until the UN Conference for Environment and Development and the Earth Summit, held in Rio de Janeiro in 1992, that the concept was spotlighted on the centre stage of the GPPD (global public policy debate). Our Common Future was the third in a long list of reports to focus attention and discussion in the world scientific community. The interest in sustainability that thrived during that time period was accelerated by a series of incidents and discoveries, such as the leak of poisonous gas from a chemical plant (Bhopal, India), the hole in the Antarctic ozone layer, the explosion and radioactive release (Chernobyl, Ukraine), leaking toxic chemical dumps, such as Love Canal and worry and conflict over decreasing natural resources (e.g forests and fisheries). This has led us to where we stand today on the topic of sustainability and its ever growing need to be properly measured, implemented and sustained in our developments and advances (http://www.reliefweb.int/rw/rwt.nsf/db900SID/LHON-68ZJDP/$File/Introducing_Sustainable%20_Development_Introduction.pdf?OpenElement). Why do we need Sustainability? The easiest answer is that unsustainable societies collapse. Easter Island and the Maya in Central America are just some example of its importance. These were once powerful societies but they came apart and collapsed because they used there resources relentlessly until they eventually couldnt function as they used to and became victims of devolution. And how does this relate to modern day society? Its all around us, global warming due to our industrial activities, the impending oil/energy crisis due to our dependency and lack of effective, sustainable alternatives and the general breakdown of social conscience through globalisation. It is vital that human kind becomes largely (Sustainable development for engineers. Karel Mulder) sustainable to combat these challenges and continue progressing as a race. This kind of sustainability cannot be achieved at once and starts from the basic building blocks of society upwards. This means that each new project thats undertaken should be require d by law, or at least strong policy, to comply with sustainability standards. This is the area that will be focused on in this project, evaluating the sustainability of a design project. This starts with examining the policies that are in place in certain countries/counties and considering the unification of these policies to provide a world wide standard (Rough guide to sustainability. Brian Edwards). Also the way in which sustainability is measured is an area of research which is of vital importance. Without proper measurement, sustainability will never be implemented properly and to full effect. The methods of measuring sustainability will also be studied to determine if its possible to improve on the measuring systems already present. This will take the form of an evaluation matrix to measure the sustainability of a design project. Basis of Sustainability As we enter the 21st centuary, the concerns over the environment and its values that took root in the 1960s have brought into clear focus an awarness of the earths fragility as a natural system. Sustainable development implies a redefinition and review of concepts such as wealth, production and interest. The basic need of sustainability is co-operation and international agreement. In an ideal system, economic theory should find a method of including assets of nature and human development into its equations. Although it is not possible to layout the definition of a fully sustainable society as a situation to aim for, there are some basic principals that can be examined: The consumption of resources should be minimized. Consumption of non-renewable materials should be phased out. Renewable materials and energy sources should be the preferred choice. One should not just contribute to the private good, but to the common good also. The question is asked in many of the articles provided on the web, Can we afford sustainability? After a minor amount of study the answer is clearly, we have no choice. If society continues on the road it has taken then the human race is facing chaos and decline. There is no alternative to sustainable development (Sustainable development for engineers. Karel Mulder). Sources of Non-Sustainability As it stands the planet is rife with sources of unsustainability and this is, at last, coming under some strong scrutiny. Apart from population stabilization, five common but quantifiable criteria for sustainability are recommended, including: 1: The stabilization of greenhouse gas concentrations in the atmosphere. 2: The stabilization of acidity in rainfall. 3: The reduction of wasteful uses of heavy metals to natural enlistment rates. 4: The abolition of agriculture based on pumping fossil water from non-renewable sources/aquifers 5: The eradication of loss of arable land because of erosion or salination. Other measures, such as the preservation of biodiversity, might be added to the list. (http://www.sciencedirect.com/science?_ob=ArticleURL_udi=B6VDY-3Y2MYGC-C_user=906470_coverDate=03%2F31%2F1996_rdoc=1_fmt=high_orig=search_origin=search_sort=d_docanchor=view=c_searchStrId=1489005091_rerunOrigin=scholar.google_acct=C000047746_version=1_urlVersion=0_userid=906470md5=55b4d1a71740ab0900429fdcc5168d36searchtype=a) Unsustainable actions/activities can be defined as those that: require a constant usage of non-renewable resources or use a greater amount of natural resources than the earth can generate, are the source of degradation to the environment, require such large quantities that they will not be available for future generations, push species towards the point of no return or extinction, actions that promote or stimulate selfishness and actions that create the risk of a disaster. This particular point of the study does seem to extend beyond the reach of the project title but it is important to have a broad understanding of sustainability and its challenges before the m ore intricate areas of its evaluation are tackled (Sustainable development for engineers. Karel Mulder). Measuring Sustainability CEEQUAL Introduction CEEQUAL is an assessment and awards scheme for improving sustainability in civil engineering and public realm projects. Its original title was the Civil Engineering Environmental Quality Assessment and Award Scheme. It is based in the united kingdom and is promoted by the ICE (institution of civil engineers) The method is most commonly used for the assessment of large scale projects. It was originally developed by a team led by the ICE and supported by the institutions RD enabling fund and the UK government. It is based on a self-assessment carried out by a trained CEEQUAL Assessor that is then externally and autonomously verified by a CEEQUAL-appointed Verifier. Its objective is to promote the achievement of environmental excellence in civil engineering, and thereby deliver improved environmental and social performance in project specification, design and construction. (http://www.ceequal.com/how.htm) How does CEEQUAL work? The scheme assesses performance across 12 areas of environmental and social importance. The assessment is made up of 200 questions which are contained in the CEEQUAL Manual relating to social and environmental aspects of a project such as the use of water, energy, land, impacts on ecology, landscape, neighbors, archaeology and waste minimization and management as well as community relations and amenity. It rewards project teams in which designers, clients and constructors go beyond the legal and environmental minimum standard to achieve distinguishing levels environmental and social standards. (CEEQUAL PDF) It basically determines how well a project team has dealt with environmental and social issues in work the work being carried out. When used during the design and construction phases, the CEEQUAL assessment is more than likely going to have a positive influence on the projects social and environmental performance. The organization that registers receives a copy of the latest versi on of the CEEQUAL manual and also a scoring spreadsheet for the category of award applied for. A CEEQUAL assessor then carries out an assessment on the project and scores the project accordingly. This assessor will have been trained at a CEEQUAL Assessor training course and also will have his assessment verified by an appointed CEEQUAL verifier. It is always best to carry out the assessment as the project progresses. This allows supporting evidence to be collected alongside the design and construction phases and leads to an overall result which is more accurate and reliable. Based on the assessment an award is allocated to the project, whether it be the client, the designer or the contractor, or all three. (http://www.ceequal.com/about.htm#how) Awards CEEQUAL provides the civil engineering industry with an incentive and set of rules for assessing, benchmarking and labeling the sustainability performance of projects as part of the industrys contribution to sustainable development. This set of rules leads to the proper assessment of the design project and assigns an appropriate award based on the projects performance. The awards available in the assessment method are as follows: The Whole Project Award (WPA), applied for jointly by or on behalf of the Client, Designer and Principal Contractor. The WPA with an Interim Client Design Award (the stage in the design process at which the Interim Assessment is undertaken can be chosen by the applicant to best suit their needs and procurement process). The Client Design Award, applied for jointly by the Client and Designer. The Design-Only Award, applied for by only the principal Designer. The Construction-Only Award, applied for only by the Principal Contractor. Design Construction Award for project teams that do not include the client, on design construct and other partnership contracts. The award achieved at the end of the day is reliant on the score awarded to the project after the assessment. (CEEQUAL PDF) Objectives of CEEQUAL The objectives of the CEEQUAL Scheme are: To recognise the achievement of good, very good or excellent environmental and social standards in civil engineering and public realm projects. To promote and advertise enhanced sustainability performance in project specification, design and construction To create a climate of environmental awareness and continuous improvement in the industry. In essence, CEEQUAL is: a tool for Project Teams to assess how well they have dealt with the environmental and many social issues on their projects, a mechanism for having those assessments externally and independently verified and recognition gained, an evidence-based assessment, not an assertion-based assessment, a question set that can be used by Project Teams as a checklist to significantly influence the development of design and/or construction management made as a project progresses from concept to completion.

Insanity Defense Essays -- Law

In 1997, Jesse Ernst and his older brother Ted went on a crime spree throughout the Bigfork area. The brothers burglarized several homes that year, and in one instance killed a neighbor when he attempted to intervene. Both brothers were sentenced to life in prison, however in an appeal Jesse was found not guilty because of mental disease or defect. Instead of spending life in prison, he was released from a mental hospital after only one year of treatment and is now â€Å"working, planning to become a missionary, and ‘doing very well’ according to his lawyer, Phyllis Quatman† (Sabol). Jesse Ernst’s case is a perfect example of the problems with the insanity defense plea today. Although there are a few cases in which this plea is very relevant, for the most part it is a plea used for defendants to escape full punishment for their crimes, and major changes need to be made. In order to understand the complexities of this issue, we first need to understand the basic concepts of the insanity defense plea. According to Kimberly Collins, â€Å"An insanity defense is based on the theory that most people can choose to follow the law; but a few select persons cannot be held accountable because mental disease or disability deprives them of the ability to make a rational / voluntary choice. Such individuals need special treatment as opposed to prison; punishment is not likely to deter future antisocial conduct of these mentally diseased individuals† (Collins). It goes along with the idea that people should only be held accountable if they are aware of the wrongness of their actions, and that confinement of people who are unaware of their actions is inhumane (Schaefer). The problem with this is that it is hard for people to objectively decide that som... ....Marcus, David K. "The Effects Of Neuroimaging And Brain Injury On Insanity Defenses." Behavioral Sciences & The Law 26.1 (2008): 85-97. Psychology and Behavioral Sciences Collection. Web. 8 May 2012. Sabol, Chery. "Ernst Verdict Makes History." The Daily Interlake [Kalispell] 21 May 2001: unknown. Print. Schaefer, Michele N. , and Joseph D. Bloom. "The Use of the Insanity Defense as a Jail Diversion Mechanism for Mentally Ill Persons Charged With Misdemeanors ." Journal of the American Academy of Psychiatry and the Law Online. The American Academy of Psychiatry and the Law, 1 Mar. 2005. Web. 7 May 2012. . Torry, Zachary D. and Billick, Stephen B. "Overlapping Universe: Understanding Legal Insanity And Psychosis." Psychiatric Quarterly 81.3 (2010): 253-262. Psychology and Behavioral Sciences Collection. Web. 8 May 2012.

Duties and Responsibilities of Ceo Essay

A chief executive officer (CEO) is the head of the company and is responsible for its overall success. Some CEOs are also members of the board governing the company, or boards with other organizations. They determine the policies that make up the structure of an organization, or its corporate governance Chairman of the Board A CEO often serves as chairman of the board of directors. The board conducts performance reviews on the CEO and other high-level executives and determines whether they are doing a good job running the company. The board has the power to hire and fire CEOs. As part of the board, a CEO provides input on where he sees the company heading, financially and strategically. Steve Jobs was both the chairman and CEO of Apple for many years. Industry Analysis To lead the company, the CEO must be knowledgeable about the industry. She attends or maintains a presence at conferences and has meetings with other executives to make deals and exchange information. This not only keeps her informed about upcoming events and opportunities like mergers, but also makes her aware of potential threats, like a new competing product line. Approve Annual Reports Annual reports are like a report card on a public company’s s financial status. The CEO writes a personal message that accompanies the report. The message is a summary of the entire report and states his thoughts on future goals, and how the company is progressing toward them. The letter is intended to inform stockholders about the company’s past and future performance. A CEO must verify that all the financial statements in the report are true and complete. Work With Other Executives A CEO must communicate with other high-level executives to make decisions. She often helps recruit candidates at this level since she will be working so closely with them. Although she typically receives input from officials such as the chief financial officer, the chief technology officer and the chief marketing officer, the CEO is the final decision maker on issues. She must clearly state her reasoning for decisions in a variety of formats such as presentations and company meetings. Effective communication reduces misunderstandings and makes employees feel secure about the company’s future. Determine Corporate Policies The CEO must know a lot about basic business topics so he can make decisions in a wide variety of  areas. He is required to have a master of business administration (MBA) degree and at least 10 years’ experience in business, preferably in the same industry, background elements that provide him with a broad base of knowledge. Among the things he’ll determine are when the company goes public, how many employees to hire or lay off, whether or not to merge with other companies and what companies to acquire. He must also make sure that company policies are clearly communicated to the right people in email, memo or newsletter formats.

Cold Blood’ and Frankenstein Essay

Compare how Capote and Shelley use different techniques for characterisation and their use of emotive, figurative language with the use of repition to show the theme of wasted lives ‘In Cold Blood’ was written in 1966 when screenplays were very common. Authors such as Shakespeare wrote traditional plays so it was unpredictable that the readers of ‘In Cold Blood’ would respond to the novel well as it was the first non fiction novel Capote wrote. Capote wanted to experiment with his writing using narrative techniques of the novel to depict real life events. Capote believed that the narrator should not interrupt in novels; but the characters should tell the story themselves. Capote was able to write a novel which displayed the real events surrounding the murder of the Herb Clutter family and shaped it into a storyline. ‘In Cold Blood’ is based on a true story of the murders of a family- something which would be wrote about in today’s society. The novel is an account of the events but also contains elements of Capote’s creativity therefore it is hard to tell whether it is fictional or factual. ‘Frankenstein’ on the other hand is a non fictional novel which is still read and appreciated today as it is of a gothic genre. ‘Frankenstein’ was written in 1818 when science was seen as exciting but also dangerous as it was trespassing on the territory of God. The early 19th century was a time which generated exceptional events and ideas therefore it must have been quite interesting to read ‘Frankenstein’. The danger of science was a great classic theme and Shelley provided her gothic genre as a framework to tone the horror of failed science- the famous experiment gone wrong. ‘Frankenstein’ is still a very popular novel today because of it’s fascination in science which is still explored. Capote portrays his character Bonnie as being a very timid and shy character. She has a ‘heart faced shape’ which is symbolic to her personality and it suggests that she is a likeable character. The significance of this is that it makes the readers engage with her and they want to know her story in order to feel sympathy for her. Bonnie has ‘bony hands’ and is quite petitie which suggests that she is quite vunerable- like the creature in ‘Frankenstein’. In ‘Frankenstein’, we get the creature’s perspective, ‘and what was I? ‘ this is similar to Capote’s character Bonnie with both the characters looking for reassurance from someone. Both the writers make it easy for the reader to discover new aspects of the characters personalities. Capote uses emotive language in repition to suggest that Bonnie may have had a wasted life which makes the readers have sympathy for her. Capote uses the term ‘spinster aunt’ which is a type of semantic change known for an unmarried woman. Even though the novel was written in 1966, the language is still easily read and understood. Unlike ‘In Cold Blood’, ‘Frankenstein’ contains language which may cause a barrier if read today. Shelley uses words like ‘loathsome’ and ‘squalid’ which would rarely be used today however the novel is still effective at portraying the gothic horror through emotive and figurative language. In the extract of the dialogue between Jolene and Bonnie, Capote portrays the significance of the difference between Bonnie and Jolene. Jolene is a very confident character whereas Bonnie constantly panicks and stutters when she speaks; this shows that she may feel worthless and may feel that she is not noticed by others. Capote emphasizes Bonnie’s wasted life indirectly by comparing her to Jolene’s character who comes across as very confident. The comparison of the two characters is quite significant as it shows the importance of emotion that Bonnie has felt. Capote brings a child like quality to Bonnie through the dialogue between Bonnie and Jolene, ‘They don’t need me,’ this shows that Bonnie may be looking for reassurance from Jolene. Capote makes the reader feel sorry for Bonnie in order to like her character as she may have had a bad past. The repition of ‘they don’t need me’ reinforces the sadness of Bonnie. It is also suggesting how she may not be very close to her family. Capote makes us aware of the sadness and timidness of Bonnie for the readers to sympathise with her and hope that she succeeds later in the novel. The insecurities that Capote brings out in his character can resemble the characters of today’s famous novels. Shelley makes the readers realise that even though the creature is deformed, he is still a character who underneath his flaws should be treated the same as any other person. ‘I was not even of the same nature as man’, this shows that Shelley wants the readers to sympathise with the creature and almost feel his emotion. The creature’s life is empty if not more than Bonnies as all he longs for is companionship. Shelley makes the readers feel quite sad for the creature as he is deprived of love. With the use of figurative and emotive language, ‘I saw and heard of none like me’, Shelley introduces feelings to the reader which can only be seen as human. The readers see that the creature is still an outcast even though he has tried helping people and tried being humane. It’s unfortunate for the creature to have an empty life, one which he didn’t really ask for and like the one Bonnie almost wished she didn’t have.