FIN501 - Strategic Corporate Finance Mod 3 SLP Essay

FIN501 - Strategic Corporate Finance Mod 3 SLP - Essay Example But we might wonder what determines the rate of return that a shareholder would want on a particular stock? It would depend for one thing on the price of the stock (highs, lows and average) and the historical trend of dividend payouts that has been made in recent years. Though every stockholder would have his personal thoughts and opinions on this, we can be sure that it would be higher than the risk free rate- the rate on US Government bonds maturing in one year and guaranteed by the Government. It would also depend on the Beta coefficient for that particular stock. In fact a good estimate of the rate of return expected by a stockholder in relation to a particular stock would be given by the Capital Asset Pricing Model formula which goes as follows: Rj - RF = ÃŽ ²j [RM - RF]. By using this model, we can estimate the cost of equity or the rate of return that our companys shareholders require. Every financial manager must be aware of this because it will help to determine whether a particular course of action by the company will or will not add value to the shareholders. This is the minimum rate of return and may be regarded as the cost of equity. Given that the average cost of capital for a firm in the S&P 500 is 10.2 percent, I would have expected the Coca Cola Company to have a lower cost of capital than the average firm. This is because the Coca Cola Company is a good stock with consistency in performance and price. The price fluctuation for Coca Cola stock has not been too much, with a current price of $67.46, a low of $61.29 and a high of $71.77 in the last 12 months (Yahoo Finance, 2012). Now I will compare the Beta and compute the Required Rate of Return using the CAPM for Dr. Pepper and the Pepsi Corporation, two competing firms of the Coca Cola Corporation and in the same industry sector. For Dr. Pepper the Beta is 0.74 and for Pepsi Corporation, the Beta is 0.42 (Yahoo Finance, 2012). The required rates

Business Biblical Worldview Essay Example for Free

Business Biblical Worldview Essay This paper will explore what a Biblical Worldview is and present a Biblical Worldview process of contracts, ownership and responsibility. A Biblical Worldview is a view that holds to the belief that there is absolute moral truth; no one can earn their way into Heaven with good deeds; the Bible is 100 percent correct in all aspects; Jesus Christ lived a life free of sin while He was on earth; and God is omnipotent, omniscience, and the ruler of the universe (Barna Group, 2009). It has been proven that one’s worldview has a powerful impact on the way he conducts his everyday life and the choices made in any given situation (Barna Group, 2009). One living by a Biblical Worldview is less likely to use profanity; to misuse media; to gamble away money; and to abuse alcohol (Barna Group, 2009). The person with a Biblical Worldview is more likely to be honest; be more civil towards others, and make proper sexual choices (Barna Group, 2009). There exists a belief that a person develops a primary worldview by the time he reaches age 13. The teen and early adult years refine the worldview and then it is passed on to others throughout their life as an adult (Barna Group, 2009). A contract is an agreement that is enforceable by the law. It is created when two or more persons agree to do something or agree to not do something (Liuzzo, 2010, pg. 79). All involved parties must be competent. A competent person is one that is of legal age and possesses normal mental health (Liuzzo, 2010, pg. 80). â€Å"All contracts are agreements, but not all agreements are contracts† (Luizzo, 2010, pg. 9). In business, contracts are used to employ people and to sell goods, and to sell services (Luizzo, 2010, pg. 79). For a contract to be enforceable legally it must contain certain elements. There must be an offer made to one party and acceptance by another party; there must be consideration; all involved must mutually agree; all parties must be competent; there must be proper form; and the expected performance of the contract must legal (Luizzo, 2010, pg. 79-80). Because of the definition of contracts, there is a tendency to view it as a hysical experience with no spiritual implications at all (Chester, n. d. ). Buying, producing, selling and serving take place in the tangible physical world but it is taking place just below the intangible spiritual world connecting them together (Chester, n. d. ). The prophet Elisha saw the connection in 2 Kings 6:17, NASB, †Then Elisha prayed and said, â€Å"O LORD, I pray, open his eyes that he may see. † And the LORD opened the servant’s eyes and he saw; and behold, the mountain was full of horses and chariots of fire all around Elisha. Here in the tangible physical world they appeared to be doomed, however, in the intangible spirit world they were victorious. (Chester, n. d. ). The physical aspects of life must line up with the spiritual aspects in a business with a Biblical Worldview. Any business that lasts is organized to line up philosophically, values wise and has the principles that demonstrate the nature of God (Chester, n. d. ). A contract or agreement that holds to a Biblical Worldview would not mirror the lop-sided contract held between Jacob and his uncle Laban. The contact between Laban and Jacob was legal. Both Laban and Jacob were competent, as they are both equals (Mabee, 1980, pg. 194). Though the agreement had all of the necessary elements of the Biblical time to make it legal, Laban did not adhere to the contract. Laban set out to cheat Jacob at every turn. The initial agreement was for Jacob to work at â€Å"Laban, Inc. † seven years for Rachel’s hand in marriage but he ended up working 14 years for her instead due to Laban’s trickery. Altogether Jacob worked for Laban a total of 20 years with Laban changing his wages (the agreement) ten times, â€Å"You know that I have served your father with all my strength. Yet your father has cheated me and changed my wages ten times†, (Genesis 31:6-7, NASB). As a Christian, the business owner is to honor any made agreements and contracts, as this mirrors the attributes of God. The Bible admonishes the believer to â€Å"Let your no be no and your yes be yes†, and anything outside of that is evil doing (Matthew 5:37, NASB). James 5:12, NASB also warns, â€Å"But above all, my brethren, do not swear, either by heaven or by earth or with any other oath; but your yes is to be yes, and your no, no, so that you may not fall under judgment. Christian business owners who hold to a Biblical Worldview understand and accept the fact that God owns everything (Tacket, 2012). â€Å"Hear, O My people, and I will speak; I am God, your God†¦For every beast of the forest is Mine, The cattle on a thousand hills† (Psalm 50:1-10, NASB). God tells us in Haggai 2:8, NASB that He even owns the silver and gold (money) everyone seeks after, â€Å"The silver is Mine and the gold is Mine,’ declares the LORD of hosts. † Jehovah God is simply loaning it to one and requires good stewardship over the things He has granted.

Relations of the Ascending Aorta :: essays research papers fc

  Ã‚  Ã‚  Ã‚  Ã‚  The ascending aorta, or aorta ascendens, along with its constituents, amounts to about five centimeters in length. It constitutes the initial division of the aorta, the largest artery in the body. It originates from the upper portion of the left ventricle of the heart at the aortic valve â€Å"on a level with the lower border of the third costal cartilage behind the left half of the sternum; it passes obliquely upward, forward, and to the right, in the direction of the heart’s axis, as high as the upper border of the second right costal cartilage, describing a slight curve in its course, and being situated, about 6 cm. behind the posterior surface of the sternum.† (Gray† 1) It then gives rise to the right and left coronary arteries, which supply the heart muscle. It then curves left continuing into the arch of the aorta. Originating from the aorta are the right brachiocephalic trunk, left common carotid, and left subclavian arteries. The corona ry arteries, thus being, the only branches of the ascending aorta.   Ã‚  Ã‚  Ã‚  Ã‚  At the entrance of the ascending aorta are three minute aortic sinuses and the Aortic Semilunar Valve, a three-cusped valve located at the base of the ascending aorta behind the sternum at the level of the third intercostal space (Grine 273). The point at which the ascending aorta converges with the aortic arch is termed the bulb of the aorta, a swelling due to vessel increasement on the right wall. Lying superior to the ascending aorta is the trunk of the pulmonary artery and the auricular appendage of the right atrium. It is partitioned from the sternum by the serous pericardium, the right pleura, the anterior margin of the right lung, some loose areolar tissue, and the remains of the thymus. Posteriorly, it is propped upon the left atrium and right pulmonary artery. Lying adjacent on the right border is the superior vena cava and right atrium.

Impact of Global Warming on Coastal Wetlands Essay -- Climate Change,

Impact of Global Warming on Coastal Wetlands Professor’s comment: Jane wrote this research paper for my Advanced Composition course. The assignment asks the students to read and understand six to ten articles within a research area of their choice, then synthesize the information so that a reader can quickly understand the present state of research in that area. Jane chose to look at how increased flooding and salinity might affect coastal wetland soils and species, and she organized the material clearly and effectively. What I liked particularly about this review was that it moved logically from the effects of flooding and salinity on wetland soils to the effects on the plants growing there to the overall effects on the wetland, both in terms of species composition and, more drastically, wetland survival. The tie-in with global climate change puts this local chain of cause and effect into a larger perspective. Introduction Global climate change, rising sea levels and anthropogenic factors are creating increased flooding and salinity levels in coastal wetland areas. (Conner, 1994; Flynn et al., 1995; Webb et al., 1995; Conner and Askew, 1993; Allen et al., 1995; McCarron et al., 1998; Baldwin and Mendelssohn, 1998). Increased flooding and salinity levels can affect wetland soil parameters, and in turn, wetland associated plant species (Baldwin and Mendelssohn, 1998). Although some species are more tolerant to these conditions, most species demonstrate physiological responses and decreased survival at increased flooding and salinity levels. Therefore, changes in wetland species composition are expected unless intolerant species can adapt to heightened flooding and salinity levels imposed by changing environmental... ... 255-268. Conner, W.H. and Askew, G.R. (1993). Impact of Saltwater Flooding on Red Maple, Redbay, and Chinese Tallow Seedlings. Castanea58(3): 214-219 Conner, W.H. (1994). The Effect of Salinity and Waterlogging on Growth and Survival of Baldcypress and Chinese Tallow Seedlings. Journal of Coastal Research10(4): 1045-1049. Flynn, K.M., McKee, K.L., and Mendelssohn, I.A. (1995). Recovery of freshwater marsh vegetation after a saltwater intrusion event. Oecologia103: 63-72. McCarron, J-K., McLeod, K.W., and Conner, W.H. (1998). Flood and Salinity Stress of Wetland Woody Species, Buttonbush (Cephalanthus occidentalis)and Swamp Tupelo (Nyssa sylvatica var. biflora). Wetlands18(2): 165-l 75. Webb, E.C., Mendelssohn, I.A., and Wilsey, B.J. (1995). Causes for vegetation dieback in a Louisiana salt marsh: A bioassay approach. Aquatic Botany5 1: 28 l-289.

Child Labor Laws: Harmful to Agriculture Essay -- Farming

Virtually everyone who grows up on a farm has chores to do. This has been the case for countless generations. Conversely, household duties often replaced farm chores as more and more families moved to the city. Nonetheless, in the dwindling agricultural sector of society, the entire family often continues their involvement in the farming operation. Participating in the family business and contributing to its sustainability creates valuable life lessons for children and teenagers. It is also a vital practice in preparing the future farmers of America. However, this practice will come to a halt once the Department of Labor enacts new rules restricting children from performing agricultural work. Articles such as, â€Å"Changes In Child Labor Laws Affect Farm Kids,† by Stu Ellis from Dairy Herd Network, â€Å"New Child Labor Laws Could Be Detrimental to Farms,† by Megan Loberg from Eat.Pray.Farm., and â€Å"Changes To Child Labor Laws Hurt Farmers,† by Bob Confer from Tonawanda News, agree that the changes pending for the child labor laws will adversely affect the future of agriculture. The three articles assert that it is essential for the development of new farmers to begin at an early age. The commentaries address the uniqueness of growing up on a farm, the irrationalities of the new laws, and damage to the future of agriculture due to delayed education. Farming is an unusual occupation according to today’s standards because, in most cases, it is not just the responsibility of the patriarch, but the vocation for the entire family. As said by Confer, â€Å"Farming is not a job. It’s a lifestyle.† Although this practice may seem archaic to people unfamiliar with the complexities of agriculture, family labor is vital to the success of the smal... ...arized by a statement from Ellis, â€Å"If you are a farm kid, raise your hand. Now, everyone else look at those whose hands are raised because they will soon be as scarce as a World War II veteran.† Works Cited Confer, Bob. "Changes To Child Labor Laws Hurt Farmers." Tonawanda News. N.p., 22 Nov. 2011. Web. 2 Apr. 2012. CONFER-Changes-to-child-labor-laws-hurt-farmers>. Ellis, Stu. "Changes In Child Labor Laws Affect Farm Kids." Dairy Herd Network. Vance Publishing Group, 1 Nov. 2011. Web. 2 Apr. 2012. Commentary-Changes-in-child-labor-laws-affecting-farm-kids-132994943.html>. Loberg, Megan. "New Child Labor Laws Could Be Detrimental To Farms." Eat.Pray.Farm. N.p., 29 Nov. 2011. Web. 2 Apr. 2012. .

Observations of Realists Essay

1) Are the observations of Realists, such as Hans Morgenthau, accurate in respect to their assessment of the importance of international law in contemporary world politics? Realists such as Hans Morgenthau and more recently Lloyd Gruber, base their theories on the assumption individuals, and hence states, act rationally to protect their own interests, the national interest. They believe states exist in a world of anarchy without an over arching authority. While this may be the case and it certainly is for some states, it is a theory that requires review within the context of the modern world and international law. In the world of bi-polar power during the Cold War, Morgenthau’s views interpreted the global climate accurately, however it is now short sighted in our time of globalization. Multi-National Corporations (MNC), Inter-Governmental Organisations (IGO) and Non-Government Organisations (NGO) play a very large part on the world stage and influence countries, economies and conflicts. Meanwhile younger theories are tending to consider the state and the world’s political climate as a holistic, interactive entity. Increased access to communication, social media and increased global wealth serve to provide an environment for a better financed and informed NGO. Yet even the UN, it’s efficacy being constantly brought into doubt, plays a vital role in establishing norms and standards with the global stakeholders. These developing theories document our planet’s political interaction and development and as such are constantly in a state of change. Sometimes in-sync with current standards such as international law and other times, not. Taking into account realism is one of the more established theories of international relations, we have to also consider the global climate in which the theory was established and compare that to now. Hans Morgenthau was born in Coburg, Germany 1904 and experienced two world worlds. He and his predecessors experienced states as the only actors in world politics. The United Kingdom was exiting her great period of colonisation and was witnessing the unraveling of her empire. Meanwhile Germany was rebuilding and rising in global status. The world was experiencing a transition into industry and moving away from the traditional agriculturally driven economies. Throughout this time, the average person’s existence was more concerned with subsistence. Overseas phone calls and intercontinental travel were beyond the average person’s reach. The importance of setting the scene here is to understand globalisation was in its infancy. To understand this helps to shape the importance other actors in world politics play. Instant communications, the Internet and global travel have made the world a smaller place. Activists, such as Green Peace, can now influence states. So much so, the Rainbow Warrior, Green Peace’s flagship, was sunk by the French spy agency, Directorate-General for External Security (DGSE), in July 1985, killing a photographer. This is an extreme example of NGO influence, yet it cannot be denied that to bomb a civilian ship highlights the pressure Green Peace was placing on the international stage. Realism does not take into account all variables acting upon the state in today’s day and age. When established, realism existed in a time of strong state actors. Today, with the ending of the Cold War that line has blurred, NGOs etc†¦ have filled that void. To understand the motivation behind the establishment of these organisations helps us to understand the influence they have. For instance, Oxfam, Amnesty International and the like have their basis within a moral social consciousness. Therefore, it’s easy to see why theories, such as Social Constructivism, focus on a world shaped by the influences of a nation’s shared beliefs, culture and values. As democracy extends further and nations adopt a capitalist model to fit into the global model, the demands to maintain a balanced, humane society increase. Governments feel this pressure and so, act accordingly. An argument by Social Constructionist such as Barnett and Finnemore is that IGOs have the real power. As I will show later using the US invasion of Iraq, governments still have the final say on their actions, although IGOs, NGOs and MNCs play a very large role in influencing them. Having stated this, one may counter argue this implies it is still a state verses state environment (Realism), however, the world has still evolved into government verses government verses IGOs, NGOs and MNCs, henceforth realism cannot not explain the actions of governments alone and must consider the external influences. Constructivism does so, but places the power into the hands of IGOs and the like. An alternative needs to be sought. Alternatives such as the European Union, which remains â€Å"†¦the most successful experiment in political institution-building since the Second World War. Andrew Moravcsik goes on to say the EU cannot replace or aspire to the democratic status of nation states, yet their role remains embedded in monitoring accountability and extensive checks and balances upon its member states. Emerging actors such as the EU again demonstrate the changing environment and clearly indicate realist theories, must by reconsidered. Focusing on the institutions such as the International Monetary Fund and the World Bank, we can cite several occasions in which their influence has shaped global politics, whether for selfish or selfless motivations. The concept of poverty alleviation was raised by the World Bank during the 1960’s and saw the World Bank â€Å"sell poverty alleviation to members through a mixture of persuasion and coercion. † The Ford Foundation established a report highlighting the successes of poverty alleviation and cited their own programs, many of which were to governmental organizations. The report also stated poverty alleviation programs were ineffectual and implied corruption. Albeit, this report was funded by the Ford Foundation to report on its own programs, yet I was under the impression they were given freedom to report accurately. Even though the Ford Foundation was established by Henry Ford’s son, and not the company itself, it still represents the power and influence a MNC can exert. These reports are not controversial, but it does go towards forming an image about governments and it is in this way influence is exerted. Furthermore, the actions of the Ford Foundation to fund relief programs, brings into question the effectiveness and validity of IGO programs. Probably the largest non-state actor is the United Nations (UN). It’s governance covers many areas of international concern, United Nations Children’s Fund (UNICEF), World Food Program (WFP), United Nations Development Program (UNDP), United Nations High Commission for Refugees (UNHCR), United Nations Education, Scientific and Cultural Organisation (UNESCO), etc†¦. As a consequence, its membership is extensive. Whether the member states take their affiliation with the UN and it’s associated bodies seriously or whether they use them as a vehicle for their own means is irrelevant. In either case, the mere existence of this relationship affects the outcomes of global politics. While UN peace keeping missions and other security programs are a subject for debate into the validity of the UN, it cannot be argued that President Bush’s attempts to have the invasion of Iraq sanctioned in 2003 was an attempt to the have the US’s actions deemed as â€Å"right’ within the eyes of the global audience. The fact the US then ignored the UN’s recommendation is irrelevant, the mere attempt to legitimize the US’s actions implies the states are now not the only actors within global politics. This occurrence in itself indicates in itself realism is becoming outdated and the need to consider a more holistic approach. While it can be argued the UN is an Inter-Governmental Organisation (IGO) and is therefore a part or rather a stage for governments to act upon. It must be noted the sovereignty of states, upon which realism is based, does not exist within the UN. The UN is a global entity upon which sovereign states are members, the UN in itself has now physical bounds and by its title, implies the uniting of nations as a common theme. The Neorealist and Structural Realism models may be more applicable in that they balance of power among states is considered in the UN forum, however, true Realist theories, such as those proposed by Morgenthau, are becoming less relevant based upon the increase in non-governmental actors. The development of the Realist theory and subsequent â€Å"neo† theories show a development of thinking and a mark of the time in which they were contrived. These theories cannot be accurate moving into the future as the benchmarks upon which they are based change with the development of the world, it’s technology and it’s people. They can however, allow us to isolate specific elements of global relations, regardless of the time they were developed. I foresee a more holistic approach to global government and non-governmental relationships develop. This will allow us to consider all of the relevant stakeholders while incorporating the best of each perspective, whether it comes from a sociological, economic or political basis. Realist theories are accurate to a degree regarding world politics, however the influence they now hold on international law and global governance has become less. The role of non-state actors, facilitated by the expansion of communications and travel, namely globalization, has given rise to organisations, which previously were unable to exist. Their power varies greatly within the influence they have upon governments of the world, yet they do influence. In a world where the occupants are more aware and hold their respective governments to account for their actions, these nations cannot afford to ignore the influence of the new players in the game.

Extended Critical Response Final Draft

The amount of women who join or even are a part of science related fields, are few and the percentages are lowering over time. The question is why? Why aren't women pursuing careers in these fields? The combination of stereotypes in society and the lack of education on this matter is the answer. They get in the way of a woman's judgment and choices. This is the argument that the article ‘The Persistence of Gender Myths in Math† by Roseland Chat Barnett & Carry Rivers published in October 2004, in the newspaper Education Week supports.I reasonably am in favor of Barnett and Rivers position. Not only because they are against the stereotype which is implanted in our society, that math is only suitable for men but also because they believe that if women where properly educated without bias they could achieve things they are capable of instead of being discouraged. To support my views on this matter will be using evidence from other sources that will be presented later on. One reason I agree with Barnett and Rivers is because on one hand although they acknowledge the fact that â€Å"men far out number women in math related fields† (par. , on the other hand they argue that this has nothing to do with innate differences but rather with stereotypes. In other words the authors do not believe that genes are the reason why women do not choose to study math but are rather deterred from biased people and circumstances which discourage women in succeeding in these fields. When girls grow up in an environment which is biased and supports that men are better than women in jobs or math related studies and avert them from doing the same they will end up believing that men are better than them and that â€Å"erodes their confidence in their own ability to succeed† (par. . In plain English when a girl has been discouraged throughout her life from doing cometh inning that is considered unsuitable to her gender she will not have confidence in achieving a go al and she will believe that she IS not good. It will always seem hard, even if she has the capability of achieving it. Moreover, I could not agree more with Barnett and Rivers that ‘culture has convinced them that girls don't belong in these fields† (par. 0), because a biased culture and the influence of stereotypes may avert girls from choosing what they are good at but rather choose what they are mostly suited for. But doesn't culture consist of education and family? On one hand the article â€Å"Reinforcing Gender Stereotypes: How Our Schools Narrow Children's Choices† by Athena Donald published in January 2014 in the newspaper The Guardian the author supports that the reason girls are not interested in â€Å"manlier† subjects is not due to innate differences but propaganda in school.As Donald puts it â€Å"children learn sexism at school†. Barnett and Rivers are Of the same mind. They believe that teachers do not encourage girls in choosing cour ses that are more popular with boys. On the other hand, Steven Pinker the author of The Science of Difference† published in February 2005, in the newspaper The New Republic talks about this topic in a more psychological prospect and is a firm supporter that biology has to do with what we like (nature), but partly agrees with Barnett and Rivers that people's preferences are caused by their social environment (nurture).This is where family comes in. When the author says â€Å"children are born unisex and are molded into male and female roles by their parents† it shows us that children have the same abilities in achieving things but society is what teaches kids that humans are different due to their ex, which applies, to my beliefs as well as Barnett and Rivers. The authors of † The Persistence of Gender Myths in Math† offer a solution, which think is reasonable.A combination of teachers helping kids in the school environment and enhancing the girls' natural ta lents rather than eliminating them because they don't apply to their sex and the elimination of bias from our society, is what the authors believe to be the solution. Firstly, they believe that teachers can contribute to their female students and help them believe that they are equally likely to succeed in the fields of math. To do so, the educators need to â€Å"examine the degree to which they themselves may have – unconsciously- accepted the math-male equation† (par. 1). Agree with the authors because, since teachers are the ones who have a part of â€Å"molding† a child's personality they need to educate themselves too on this subject. Children cannot be trusted with a teacher who does not encourage them equally. Moreover, I could not agree more with Barnett and Rivers when they say that when we stop believing in the stereotype that men are better that women at math and finally see that it has nothing to do with innate differences (par. ) but rather judge co rrectly a human and his capabilities by â€Å"their individual merits rather than the statistics of their group† (Pinker par. 6) that is when we will have a clear idea of each individuals capabilities despite of their sex. TO sum up, I am a firm supporter of Barnett and Rivers, because they are of the same mind as me which is that achievement in math has nothing to do with sexual characteristics but this is our society's false belief that men can do better in math fields.The consequence of which, ends up affecting women negatively, it does let them acknowledge their own abilities and flourish in these fields. Moreover, the authors do not stand idly towards this topic but proceed in offering a solution in eliminating this bias specifically in the school environment, which is that educators should eliminate this inhabited stereotype so they can judge the abilities of their students in math, based on their performance and not according to their sex which will result in encouragi ng them equally.Finally, a stereotype cannot stand in the way of a woman's pursuit of her dreams just because her sex according to statistics does not do well in math. All humans despite of their ex, deserve the same encouragement and support in achieving their goals, so it's time for society to work off this bias and judge equally peoples' achievements rather than having a false idea of women's capabilities.