Friday, August 21, 2020
Harassing and Marsh Et Al Essay Regular thousand of teenagers wake up alarmed of going to class. Around one of every seven schools, a youngster is either a domineering jerk or a survivor of harassing. Harassing is basically characterized as a sort of forceful conduct that includes plan to cause hurt and a force irregularity (Olweus, 1999). Tormenting can run anyplace from mental, physical (including kicking and punching), verbal or digital maltreatment. Tormenting among youngsters can be considered as a type of abuseÃ¢â¬â¢ (0-). It has been advanced that harassing is a division of forceful conduct and has been additionally portrayed as dull and Ã¢â¬Ëan powerlessness in the interest of the casualty to safeguard him or herselfÃ¢â¬â¢ (Farrington, 1993, refered to it Sapouna, 2008). We gain from Sapouna (2008) that harassing can appear as Ã¢â¬Ëverbal (verbally abusing), physical (hitting, kicking) or social (purposeful avoidance from a gathering, spreading of malignant bits of gossip). After broad research in Scandinavia, Olweus(1993, refered to in Kumpulainen et al.,1998) recommended that harassing can be done by at least one teenagers and for the most part happens on rehashed events, and somewhat, it happens in all schools. As of late harassing among youngsters has gain reputation in the press because of the extraordinary outcomes it has had on certain youthful people. A case of this is Sian Yates, a multi year old young lady who ended it all after continued tormenting (Daily Mail, 2007). In spite of the press consideration given to these cases, the outrageous result of self destruction doesn't happen in most of cases. Casualties can experience the ill effects of a scope of hurtful impacts, for example, mortification, uneasiness, sorrow, trouble with relational connections, and enthusiastic unsteadiness. This lead to the finding of Kumpulainen et al., (1998) that Ã¢â¬Ëbullying is a typical wonder among youngsters who are mentally disturbed.Ã¢â¬â¢ The essayist proceeded to state that there are Ã¢â¬Ëhigher paces of mental pain among the two domineering jerks and victimsÃ¢â¬â¢ than those not include. Notwithstanding, the writing is steady in taking note of that the Ã¢â¬Ëbullied casualties are the most disturbed of the harasser, casualty, menace Ã¢â¬victim triadÃ¢â¬â¢ (Juvonen et al., 2003; Ma, 2001; Pellegrini, 2002; Pellegrini et al., 1999;Salmivalli Nieminen, 2002, refered to in Cunningham, 2007). Should these lead offices to concentrate more on ensuring the person in question? A few schools have concluded that the route forward is to have zero resistance approaches. This may incorporate all understudies who menace. Be that as it may, if certain researcherÃ¢â¬â¢s numbers are right it could mean barring from school, 40% of the school matured populace. Given the boundless idea of the issue can zero resistance truly mean, Ã¢â¬Å"Zero toleranceÃ¢â¬ ? We gain from the NHS Ã¢â¬Ëwebsite teenagers for healthÃ¢â¬â¢ (2008) that Ã¢â¬Ëanyone can be singled out by bullies.Ã¢â¬â¢ The NSPCC found that 31 percent of kids had been harassed sooner or later (Teens for wellbeing, 2008). This being the situation, would anyone be able to be harassed? Dark and Jackson (2007) have advanced that there lies and Ã¢â¬Ëan irregularity of powerÃ¢â¬â¢ between the gatherings associated with harassing. Ã¢â¬ËThe menace is more grounded through economic wellbeing, physical ability, age, subjec tive capacities or skill.Ã¢â¬â¢ Is this lopsidedness of intensity the equivalent over the sexual orientations? There is a broad group of writing that recommends that young men are more probable than young ladies to be menaces just as casualties (Nansel et al.2001; Boulton Smith, 1994; Boulton Underwood, 1992, refered to in Marsh, Parada, Craven, Finger, 2004). This doesnÃ¢â¬â¢t mean young ladies can't be menaces. Stephenson and Smith (1989, refered to in Kumpulainen et al., 1998) found that young ladies just as young men fitted into the Ã¢â¬Ëfive principle gatherings of individuals engaged with bullyingÃ¢â¬â¢. These are: Ã¢â¬Ëdominating menaces, on edge menaces, menace casualties, old style casualties, and provocative victims.Ã¢â¬â¢ These characteristics were additionally found by Sourander,HelstelÃ ¤, Helenius and Piha (2000) to have clinical ramifications. Sourander et al., (2000) noticed that Ã¢â¬ËBullying is particularly connected with forceful and introverted conduct while exploitation is related with disguising problems.Ã¢â¬â¢ Whitney and Smith, (1989, refered to in Kumpulainen et al., 1998) saw Ã¢â¬Ëbullies as progressively inclined to have criminal feelings sometime down the road, and bound to be engaged with genuine, recidivist crimeÃ¢â¬â¢. Are criminal convections further down the road a reasonable discipline for their activities? Or on the other hand should something be done to support the domineering jerk? This prompts the inquiry as what is the idea of these youngsters that make them inclined to being a casualty or a domineering jerk. In the quest for a character build, numerous specialists have gone to the understanding that Ã¢â¬Ëbullies are inadequate in social data preparing or might be mentally disadvantagedÃ¢â¬â¢ (Besag, 1989, refered to in Marsh et al., 2004). Crafted by Crick and Dodge (1994, refered to in Marsh et al., 2004) disclosed that harassers reactions to social circumstances are being met with a filtration procedure. This Ã¢â¬Ëcognitive filterÃ¢â¬â¢ depends on a forceful individual deciphering impartial or equivocal signs as threatening and along these lines, making them bound to take part in forceful behaviorsÃ¢â¬â¢ (Marsh et al., 2004). This was likewise observed to be the situation in Bosworth, Espelage, and Simon (1999, refered to in Marsh et al., 2004) when Ã¢â¬Ëa test of immature secondary school understudies demonstrated that wrongdoing, outrage, and convictions strong of brutality were fundamentally identified with harassing behaviorsÃ¢â¬â¢. Albeit harassing is a forceful demonstration, this doesn't infer that domineering jerks and forceful or lead scattered people are a homogenous gathering. Sutton et al (1999, refered to in Marsh, 2004) set forward that harassers were a piece of a perplexing situation where they are require to Ã¢â¬Ënegotiate and ascribe mental states to themselves as well as other people to clarify or foresee their behavior.Ã¢â¬â¢ This thought contradicts the idea that Ã¢â¬Ëbullies are subjectively bumbling or basic in their associations with peersÃ¢â¬â¢ (Sutton et al 1999, refered to in Marsh, 2004). References Ã¢â¬Å"BullyingÃ¢â¬ . Viciousness Prevention. 1 Dec. 2012 http://www.violencepreventionworks.org/open/olweus_history.page Dawkins, J. L. (1996). Tormenting, physical inability and the pediatric patient. Formative Medicine and Child Neurology, 38 603-612. Espelage, D. L., Holt M. K., Henkel, R. R. (2003). Assessment of friend bunch contextuals impacts on forceful conduct during early youthfulness. Youngster advancement, 74, 205-220. Pelligrini, A. D. (2002) Bullying and exploitation in schools: A Dominance relations point of view . Instructive Psychologist, 37, 151-163.
Sunday, July 12, 2020
Free ITA - Essay Samples For ITAA lot of people have been asking whether there are free essay samples that they can find, and whether it is good enough to help them. I will try to answer both of these questions.First, what are essay samples? Essay samples are actually a bunch of documents that are supposed to be similar, so as to make the students' studies easier and more interesting. These samples are supposed to be the most representative and the most current examples, and also ones that most people would agree to look at. They are available online for free and you should be able to find them with ease.You may have seen that the online sites that offer the items essay samples say that the samples are still in beta testing stage. This means that they are still in the process of being tested, and it will take a little time before they will become active. You should know that if you use one of the free samples, then you can trust that you will be getting quality information, as it has already been tested and checked for quality.I will give you some good sources on where you can get the samples. You can either go to your local library or you can find them on the internet. However, these sources are not always trustworthy, since they are just links to other websites that are supposed to offer the samples.I did not say that you can't find free essay samples; the links that you will find online are only short lists of sources that are supposedly offering the sources that you need. As for the actual source materials, they are expensive and most of the time, they are also difficult to find.It is a good idea to first check on the website you want to use, just to make sure that they are trustworthy. You can do this by checking out the rules that are stated on the website. You can also call them up and ask if they can provide you with some samples of the essays that they have produced.Then, once you have found the site that you think can provide you with the best options for you, you should start looking for the papers. Of course, you should remember that these essays are not cheap and therefore, you will probably have to compromise with the quality of the papers.You may end up using either the printable essay samples, which are available for a very low price or you can also try the digital versions. But either way, you will need to make sure that you have the correct paper for the writing style that you are going to use.
Wednesday, May 20, 2020
The effect of Witchcraft accusations on Europe in the middle Ages Witches, are they real or fake? That question continues to be asked today. However, in the Middle Ages, a time period blurred by war, religious incursions, and disease, witches may have or may have not have existed, but something that was just as bad if not worse did. Witchcraft accusations. Witchcraft accusations unleashed a whole host of new problems such as: rampant persecution and paranoia, and the death of hundreds of thousands of innocent people, and the use of politics rather than religion when they so often went hand in hand. The witchcraft accusations and the first witchcraft trials, begin with the Spanish Inquisition which was started by King Ferdinand and Queen Isabella (Spanish Inquisition). The Spanish Inquisition began in 1478 after it was approved by Pope Sixtux IV (Spanish Inquisition Ã¢â¬â History of the Spanish Inquisition). Although it was suspended by various kings and queens throughout the years, the Inquisition did not officially end until 1834 (Ryan). The purpose of the inquisition was to try to unite the country under one faith by forcing out anyone who did not believe or practice completely, the Catholic faith. However, it was The Basque Witch Trials that went from 1609 - 1614 that was the greatest effort to get rid of heretics or witches (Mastin). The inquisition was a political stunt because they turned hostile towards other religions. Much like modern day politics. For example, gayShow MoreRelatedWitches, Sorcerers, And Shamans1650 Words Ã |Ã 7 Pageswritten about them as far ba ck as the Old Testament and in HomerÃ¢â¬â¢s Odyssey. While almost every human culture has possessed the theory of a witch, the most well-known witch trials are the ones from the late 15th century to the late 17th century in Europe. Many aspects of European life, such as art and politics, were splitting away from the Church. Even on the cusp of a scientific revolution, the belief in witches and the supernatural did not disappear. In this paper, I will argue that although thereRead MoreThe Salem Witch Trials And The Early Civilizations1725 Words Ã |Ã 7 Pagesthe Salem Witch trials are commonly referred to as the start of the witchcraft persecution, witchcraft can be found the early civilizations. Evidence of this is easily found in the societies that had Shamans or Healers of the village, where healing or blessings were done through spiritual connections. Back then, people were more accepting of it in their daily lives because they depended on it, but things were different in E urope during the Middle AGes. With the added influence of Christian faithRead MoreWitchcraft Essay1081 Words Ã |Ã 5 Pagespractices or beliefs that refer to the term witchcraft. There are many different definitions referring to the term witchcraft, but the most commonly accepted definition was provided by Evans-Pritchard 1937. (Oxford 2017) He distinguishes between witchcraft and sorcery by their technique, and defines witchcraft as an inherited ability to cause misfortune or death. The user of witchcraft is considered to be evil or dangerous. Prior to the Enlightenment witchcraft was used as a way for people to explainRead MoreWitchcraft1717 Words Ã |Ã 7 PagesDruga gimnazija Sarajevo IB World School Middle Years Programme HISTORY Reformation in Europe in 16th century ------------------------------------------------- Witchcraft WORD COUNT 1138 Sarajevo, October 2012 Action Plan For this essay I choose to write about witchcraft in the 16th and 17th century since I find the topic extremely interesting the write about. Given that we only have a paragraph about it in out History textbooks, I will have to look into other books and also searchRead MoreSuperstition and the Witch-hunts in Early Modern Britain Essay1249 Words Ã |Ã 5 PagesModern Britain. The populous held many beliefs that were not based on fact. These beliefs would be very old and passed on from generation and built in to the character of every person. People had always believed in witches throughout Europe but there had not been any official attempt to exterminate them as a group. Witches thought to be causing harm to the community would not have been brought to trial but dealt with in the community, either by lynching them or by ostracisingRead MoreWitchcraft And Superstition In Medieval Europe1654 Words Ã |Ã 7 PagesWitchcraft and superstition in Medieval Europe The concept of witchcraft and superstition stretches over a long period of time. The idea became familiar around 560 B.C when the two old testaments denounced witches and the belief in them. The idea is said to have originated in Europe, rapidly spreading around the world. Medieval Europe was an era that solely believed in magic, witches and the supernatural. In the Middle Ages witchcraft was viewed as a heinous crime that was punishable by deathRead MoreWomen s View Of A Patriarchal World1279 Words Ã |Ã 6 PagesÃ¢â¬ (Linder, 2005). But, with the belief of the devilÃ¢â¬â¢s agenda to tempt the followers of God into wrongdoings, the Roman Catholics decentralized the idea of magic into two phases; that of god Ã¢â¬â which is good magic, and that of the devil- which is witchcraft or sorcery. An outlook that Thomas Aquinas expanded on in his work the Summa Theologiae. Throughout the piece, Aquinas made his case for the existence of God, while perpetuating the idea of evil and da ngerous spirits with a sole purpose to temptRead MoreWitchcraft1411 Words Ã |Ã 6 PagesThe concept of witchcraft and the belief in its existence has existed since the dawn of human history. It has been present or central at various times, and in many diverse forms, among cultures and religions worldwide, including both primitive and highly advanced cultures, and continues to have an important role in many cultures today. Historically, the predominant concept of witchcraft in the Western world derives from Old Testament laws against witchcraft, and entered the mainstream whenRead MoreEuropean Witch Hunts Essay634 Words Ã |Ã 3 PagesHunts Witch hunts blazed across Europe over the fifteenth to eighteenth centuries not just killing innumerable innocent people, but stripping women of much of the power they had once held, and changing societys perceptions of women all together. The economic hardships, religious rivalries, and troubled politics of the time made accusing your neighbors of witchcraft convenient. Where there was war and poverty, or merely bad luck, peasants would assume witchcraft and rush to blame an old, defenselessRead MoreTerror Of A Mass Hysteria Hoax1082 Words Ã |Ã 5 PagesJena Rex-LaRue 18 April 2016 English 11 Prompt 4 Imagine the terror of a mass hysteria hoax. During the sixteenth century, witch trials caused the deaths of thousands as chaos spread throughout Europe. Many European villages in history have witnessed witch executions and the imprisonment of suspected witches. The Crucible, along with the Salem Witch Trials and the European witch trials, have many similarities and differences that make them both memorable and important. The Salem Witch Trials lasted
Wednesday, May 6, 2020
Intimate partner violence (IPV) is described a psychological, emotional, sexual or physical harm to a person by their spouse or former partner (Breiding et al, 2015). National reports have revealed that about one in three women experience IPV (Sharron et al, 2015). Intimate partner violence is a growing epidemic in the United States. However, recent studies have focused on rural regions, such as Appalachia. A study conducted by Peek-Asa et al revealed that women in rural areas are more likely to be victims of intimate partner violence than women in urban areas. Studies on pregnant women demonstrate that 81 percent of pregnant, Appalachian women have experienced intimate partner violence (Shannon et al, 2015).Contributing influences affecting IPV in rural Appalachia include culture, economics, lack of resources and geographical isolation. Geographical isolation is the most prevalent difficulty that Appalachian women face because it affects other aspects. Not only do the vast mountainous regions physically yield them from society, but prohibit them from utilizing resources. Abusers are able to have control over their spouses when they are isolated (Rhodes, 2012). Also, the isolation decreases the chance that the abuse can be witnessed by another party like a neighbor, social worker or police officer (Mulder et al, 1997). Traditions and culture can have an impact on protection, intervention and support provided to rural women (Shoaf, 2004). It is not uncommon for women toShow MoreRelatedWomen Involved With Intimate Partner Violence1441 Words Ã |Ã 6 Pagessuccessfully identify women involved in intimate partner violence. Journals typically reporting on this topic were all known to be scholarly journals such as Journal of Perinatology, European Journal of Public Health, European Journal of Obstetrics and Gynecology and Reproductive Biology, Nordic Federation of Societies of Obstetrics and Gynecology, Maternal Child Health Journal and Journal of Clinical Nursing. Seven studies were found that investigated the prevalence of IPV in women during pregnancy usingRead MoreThe Effects Of Intimate Partner Violence On Women1421 Words Ã |Ã 6 Pagesliterature review, issues associated with IPV are discussed. It is important to note that intimate partner violence causes physical, mental, and sexual consequence s for female victims of abusive relationships. Women involved in IPV report poor healthÃ¢â¬ârelated quality of life. Their personalities and associated behaviors change as they psychologically adjust and situationally adapt to an abusive environment. Unfortunately, women in abuse relationships attempt to adaptively cope through expressive forms of depersonalizationRead MoreIntimate Partner Violence Against Women2689 Words Ã |Ã 11 PagesÃ¯ » ¿ Intimate Partner Violence against Women Name College Course Tutor Date Abstract Ã Ã Ã Ã Ã Ã Ã Intimate partner violence against women in homes is an issue of global concern, but in many cultures this kind of violence has been an acceptable fact of life. In recent years, it has been viewed as a criminal challenge. However, in many societies such as the African society, it is still culturally acceptable and it is presumed that most African women still endure this type of violence in their various homesRead MoreIntimate Partner Violence Against Women1103 Words Ã |Ã 5 Pageswill discuss the topic intimate partner violence against women as discussed by other scholars and authors. Various books will be analyzed to understand the topic better. The section will also explain the main issues independently analyzing different literature and will also discuss the similarities and differences. The issue has emanated a lot of public concern as more young women continue to suffer in silence with the fear of speaking out against their partners. Some women, how ever, are courageousRead MoreIntimate Partner Violence ( Tda ) Directed Against Women1685 Words Ã |Ã 7 PagesThere is no question that intimate partner violence (IPV) directed against women is a fundamental issue. However, it is clear that a paradigm has been developed within the IPV literature which generally holds that it is gender-based; that perpetrators are exclusively or disproportionately male (Dutton., 2006) and that females are the sole victims. Whilst the original function of this paradigm was to generate social change in a direction that righted an imbalance against women (Dutton Nicholls.,Read MoreNurses Preparedness For Women Exposed With Intimate Partner Violence914 Words Ã |Ã 4 Pagesthis article, the authors discuss nursesÃ¢â¬â¢ preparedness to identify and provide nursing care to women exposed to intimate partner violence. This was a quantitative experimental study that involved a questionnaire that measured nursesÃ¢â¬â¢ preparedness when encountering wi th women exposed to IPV. The questionnaire was designed to identify them as the nurse and the interventions the nurses would provide to the women. Of 174 primary health care centers, 40 were randomly selected to participate in the study,Read MoreIntimate Partner Violence and Substance Abuse in Women Essay1970 Words Ã |Ã 8 Pagesaffected be intimate partner violence. (2013) It is estimated that twelve million people in the United States alone are affected each year. Intimate partner violence includes anything from physical or sexual abuse to psychological abuse to stalking or threats by a current or former partner. This form of violence can occur among couples that identify with any sexual orientation. The CDC reports that individuals who identify as gay, lesbian, or bisexual are at an equal or higher risk for intimate partnerRead MoreThe Correlation Of Post Traumatic Stress Symptoms And Women Experiencing Intimate Partner Violence1427 Words Ã |Ã 6 PagesCorrelation of Post-Tra umatic Stress Symptoms and Women Experiencing Intimate Partner Violence Lori Brown Fresno City College Dr. Helen Hubbard PhD RN65 Outline 1. Introduction a. Intimate partner violence and post traumatic stress symptoms. 2. Method a. Subjective data from group selected through a screening process. 3. Participants a. 369 woman participants b. African American, Latina, and White 4. Measures a. Intimate partner violence b. Alcohol and drug abuse c. Depression 5. ResultsRead MoreYoung Women s Accounts Of Intimate Partner Violence During Adolescence And Subsequent Recovery Processes1024 Words Ã |Ã 5 PagesCeirra Myles 10/12/2015 Citation Reynolds, F. C. (2011). Young women s accounts of intimate partner violence during adolescence and subsequent recovery processes: An interpretative phenomenological analysis. Psychology Psychotherapy: Theory, Research Practice, 84(3), 314-334. Statement of purpose The purpose of this study was to explore three young womenÃ¢â¬â¢s understandings of why they had been vulnerable to IPV in their mid-to-late adolescence years, what their experiences of IPV were like, andRead MoreSexual Partner Violence And Black American Women Essay1056 Words Ã |Ã 5 PagesRELATED TO INTIMATE PARTNER VIOLENCE AND BLACK AMERICAN WOMEN Arshida Moore 12/11/2016 PADM 6130 Research Methods INTRODUCTION In the United States, Black American women are physically battered and often die from Intimate Partner Violence (IPV) at increasingly disparate rates in comparison to that of White American women. When compared to their White American counterparts, Black American women unswervingly conveyed higher rates of violence by their intimate partner (West, 2004)
Question: Discuss about the case study Essentials of Corporate Financial Management. Answer: Reason behind the explosive growth of Loewen during the early 90s The Loewen Group essentially started as a family business during the year 1950 and experienced explosive growth in the 1990s. The acquirement of numerous small sized funeral homes as well as cemeteries in addition to the acquirement of a number of large recognized funeral chains in thickly populated urban markets can be attributed as a primary reason behind the enormous growth of the company Loewen Group.The organizational strategy that differentiated the Loewen group from that of the other major players operating in the market is the acquisition of the greater share of many small cemeteries as well as funeral homes. Furthermore, the company Loewen Group also successfully retained the expert managers who had thorough idea about the community in which they resided and are already well known in the local areas. The managers therefore could provide even transition of the business from a family business to a corporate big business. The management of the company Loewen Group also financed the businesses for the capital augmentation as well as merchandise. The high entry barriers into this business owing to the high fixed costs as well as huge capital requirements at the time of start up along with lack of social attachment with the community can be considered as a driving force behind the explosive growth of the company. Advantages of Debt Financing The company Loewen has financed several projects by employing debt funds. The debt funds therefore fuelled the growth of the company during the early 90s to a great extent. The policy of debt financing helped the company Loewen to make greater amount of investments and make payments for the new acquirements and assets that can be utilized for the growth of the business. The debt financing of the Loewen thereby also helped the firm to acquire working capital and fulfill the short term needs of the company. Evaluation of the operational and financial performance of Loewen Current Situation The recent financial outcomes reflect a disappointing financial condition of the firm. During the second half of the year 1998, the company adopted the policy of the elimination of the acquisition progam in order to improve the financial results, liquidity as well as operational efficiency. The current situation also reflects the fact that the company also concentrated on the cash flow from different operative actions and mainly on the cash flow from diverse cemetery operations. In addition to this, the company also made efforts to lower the level of cost of the firm by closure of the Cincinnati of the company as well as Trevose offices and at the same time considerable consolidation of diverse management operations in Burnaby. The analysis of the current situation of the company reveals the fact that the sales revenue of the company has grown from $1141.1 recorded in 1997 to $1136.2 in 1998. However, despite the increase in the sales of the company the gross profit of the company de clined by more than 21% during the year 1998. The financial declarations of the company replicate the fact that the total liabilities of the company increased by around 36% to $3768 million during the year 1998. The financial performance of the company can also be checked from profitability ratio of Loewen. The return on equity recorded during the year 1998 reflects the fact that the profitability of the company has declined. The return on equity is registered to be -81.2% during the year 1998 that declined from 2.4% recorded during the year 1997. The profit margin ratio for the year 1998 enumerated by dividing the gross profit by the revenue is recorded to be (291.7/1136.2=0.25). On the other hand, the gross profit margin during the year 1997 was registered to be 0.33. Therefore, the operational as well as the financial performance has deteriorated during the 1998 as compared to the year 1997. Therefore, the current situation is leading to the position of financial distress as the revenues from different acquired corporations also declined to USD 29.1 million from the year ago figure of 187.6. Costs of the financial distress for Loewen The funeral home and the cemetery business of Loewen Group faced imminent financial distress. The company experienced aggressive growth through the excessive use of the debt funds. The process of restructuring of the entire debt funds of the company is extremely costly to different creditors, suppliers, diverse suppliers as well as other company stakeholders. In addition to this, cross border as well as the accounting issues also impend the process of restructuring. The financial distress exerts immense influence on the overall image of the company Loewen Group that is evident from the decline in the prices of the shares of the company. Again, the financial distress also gives rise to different legal issues and the company needs to bear cost for the legal as well as consultation fees that that makes it more costly. Again, due to the financial distress the assets of the corporation can be taken into consideration under the bankruptcy clauses and can also be undervalued by the government. As mentioned in the case study, the company Loewen Group has huge accrued debt and as a result the viability of the cash is also low and the equity is also considered as an unusual circumstance even for different preferred shareholder of the company. Again in case of bankruptcy, the firm needs to spend the entire amount obtained on liquidation for repayment of the debt. Therefore, the equity shareholders can also incur losses owing to the financial distress of the company. In addition to this, the company also faced the difficulty of decline in the overall rates of the stock from 25.75 to 9.44 within the period of a year. The company also experienced growth through a number of acquisitions that were financed by debt funds. The amount of debt of the company Loewen increased from $2.3 billion during the year 1998 and the company had no bank agreement regarding the restructuring. Viewpoint of SCI on hostile bid The Loewen Group and the SCI competes for the properties as they operate in the same market. SCI acquired the British company Great Southern against an amount of $200 million where both the companies placed their bids. Again, the SCI made several offers to Loewen during the year 1996 that were finally declined. The SCI also made formal offers for the purpose of the acquirement of the common stocks of the company at USD43 per share that was substantially higher than the closing share price of the Loewens stock. The management of Loewen rejected the offer citing reasons of unfavorable verdict of the jury as the primary reason behind the decline in the prices of the shares. However, during the year 1997, SCI cancelled its bid for the acquisition of Loewen due to growing concern regarding the anti-trust suit and several takeover defenses of the company and the high debt financing costs of the company. SCI persistently made attempts to acquire Loewen and made several formal proposals to the management of Loewen. The formal proposals of the SCI for the acquisition of Loewen included bids that were rejected by the board of directors of the Loewen. The management of the Loewen rejected the formal proposal on the ground of the underestimation of the overall value of the company. However, declaration of the reason for rejection of the formal bid of the Loewen directed the management of SCI to increase the bid. This too revealed the desperation of the management of SCI for the acquirement of the Loewen. Therefore, different informal acquisition proposals reflect the viewpoint of the management of SCI in getting hold of the competitor firm Loewen and to ensure greater share of the market. The intention behind the consistent attempts of the SCI for the aggressive takeover of the Loewen was primarily the acquirement of a rival firm in order to eliminate a competition. Key factors that drive the valuation for Loewen The key factors that drive the valuation of Lowen include the net present value of the total cash flows that was accrued during the particular period as well as the terminal value where the terminal value is also discounted to the net present value. The value of the company is calculated by taking into consideration the equity value of the firm based on the free cash flow (Arnold 2012). In case if the efficiency level of Loewen becomes equal to that of SCI, then the overall valuation of the firm will increase as the revenue and the profit of the company will rise. The free cash flow of the company will rise and at the same time the net present value of the FCFF (Poniachek 2013). Effects of the operational efficiency, financial policy and growth The operational efficiency of the firm can improve the capability of the firm to generate larger amount of sales out of the available assets of the company (Arnold 2012). During the year 1998, the company Loewen was able to generate profit of USD 291.7 out of the available assets of USD 4673.9. Therefore, the operational efficiency of the company is (1136.2/4673.9=0.24). On the contrary, the operational efficiency of the company Loewen is also found to be approximately 0.24. Therefore, increase the sales of the company and raise the overall operational efficiency of the firm (Arnold 2013). Again, the financial policy of excessive use of debt also affected the overall financial performance of the firm. The use of debt increased the debt to USD 940 and the interest expense to USD 182 from USD 127 during the year 1998, thereby leading to the decline in the net income of the firm. The forecasted sales during the period 1999 are expected to be 1319.1044 where the growth % is recorded to b e 16.09. The growth in sales can therefore raise the efficiency of the operations of the company and increase the overall profitability of the firm as well (Eun and Resnick 2012). The Enterprise value represents the economic value of the company. It is useful in comparing similar companies. This attempts to capture the firms operation and growth in a singular number by multiplying with the financial matrices to yield the result. In the given case the Enterprise value of both the company are calculated based on the data of 1998. The calculation of Enterprise Value is given below: Calculation of Enterprise Value (98) Particulars Sci Lowen Market Value of Equity 9865.7 624.9 Total Debt 3880.4 2334.2 Cash 314.1 76.1 Enterprise Value $13432.00 $2883.00 The enterprise value is calculated by adding Market value of equity with total debt and subtracting cash from that. As can be seen from calculation Enterprise value of SCI is more than that of Lowe. In this, case the financial metrics used is sales for calculating the enterprise value of Lowen based on the financial metrics of SCI. The enterprise value of metrics of Lowen comes to $5308.142. The increase in Lowens value is $2425.14. Calculation of increase in Enterprise Value EV of Lowen at SCI operation level $ 5,308.14 EV of Lowen at current operation level $ 2,883.00 Increase in Enterprise Value $ 2,425.14 References Arnold, G. 2012.Corporate financial management. Harlow, England: Pearson. Arnold, G. 2013.Essentials of corporate financial management. Harlow, England: Pearson. Eun, C. and Resnick, B. 2012.International financial management. New York, NY: McGraw-Hill. Poniachek, H. 2013.International corporate finance. London: Routledge.
Thursday, April 23, 2020
Venus Venus, the jewel of the sky, was once know by ancient astronomers as the morning star and evening star. Early astronomers once thought Venus to be two separate bodies. Venus, which is named after the Roman goddess of love and beauty, is veiled by thick swirling cloud cover. Astronomers refer to Venus as Earth's sister planet. Both are similar in size, mass, density and volume. Both formed about the same time and condensed out of the same nebula. However, during the last few years scientists have found that the kinship ends here. Venus is very different from the Earth. It has no oceans and is surrounded by a heavy atmosphere composed mainly of carbon dioxide with virtually no water vapor. Its clouds are composed of sulfuric acid droplets. At the surface, the atmospheric pressure is 92 times that of the Earth's at sea-level. Venus is scorched with a surface temperature of about 482? C (900? F). This high temperature is primarily due to a runaway greenhouse effect caused by the heavy atmosphere of carbon dioxide. Sunlight passes through the atmosphere to heat the surface of the planet. Heat is radiated out, but is trapped by the dense atmosphere and not allowed to escape into space. This makes Venus hotter than Mercury. A Venusian day is 243 Earth days and is longer than its year of 225 days. Oddly, Venus rotates from east to west. To an observer on Venus, the Sun would rise in the west and set in the east. Until just recently, Venus' dense cloud cover has prevented scientists from uncovering the geological nature of the surface. Developments in radar telescopes and radar imaging systems orbiting the planet have made it possible to see through the cloud deck to the surface below. Four of the most successful missions in revealing the Venusian surface are NASA's Pioneer Venus mission (1978), the Soviet Union's Venera 15 and 16 missions (1983-1984), and NASA's Magellan radar mapping mission (1990-1994). As these spacecraft began mapping the planet a new picture of Venus emerged. Venus' surface is relatively young geologically speaking. It appears to have been completely resurfaced 300 to 500 million years ago. Scientists debate how and why this occurred. The Venusian topography consists of vast plains covered by lava flows and mountain or highland regions deformed by geological activity. Maxwell Montes in Ishtar Terra is the highest peak on Venus. The Aphrodite Terra highlands extend almost half way around the equator. Magellan images of highland regions above 2.5 kilometers (1.5 miles) are unusually bright, characteristic of moist soil. However, liquid water does not exist on the surface and cannot account for the bright highlands. One theory suggests that the bright material might be composed of metallic compounds. Studies have shown the material might be iron pyrite (also know as fools gold). It is unstable on the plains but would be stable in the highlands. The material could also be some type of exotic material which would give the same results but at lower concentrations. Venus is scarred by numerous impact craters distrubuted randomly over its surface. Small craters less that 2 kilometers (1.2 miles) are almost non-existent due to the heavy Venusian atmosphere. The exception occurs when large meteorites shatter just before impact, creating crater clusters. Volcanoes and volcanic features are even more numerous. At least 85% of the Venusian surface is covered with volcanic rock. Hugh lava flows, extending for hundreds of kilometers, have flooded the lowlands creating vast plains. More than 100,000 small shield volcanoes dot the surface along with hundreds of large volcanos. Flows from volcanos have produced long sinuous channels extending for hundreds of kilometers, with one extending nearly 7,000 kilometers (4,300 miles). Giant calderas more than 100 kilometers (62 miles) in diameter are found on Venus. Terrestrial calderas are usually only several kilometers in diameter. Several features unique to Venus include coronae and arachnoids. Coronae are large circular to oval features, encircled with cliffs and are hundreds of kilometers across. They are thought to be the surface expression of mantle upwelling. Archnoids are circular to elongated features similar to coronae. They may have been caused by molten rock seeping into surface fractures and producing systems of radiating dikes and fractures. Science Essays