Personal Statement Essay Example | Topics and Well Written Essays - 500 words - 33

Individual Statement - Essay Example Along these lines, I have chosen to make a move to seek after the following degree of training so as to keep procuring more information that is useful to the general public and me. For this situation, so as to understand my maximum capacity, I needed to apply in probably the best organization offering the PhD program that I have to continue with seeking after of my scholarly objectives. Subsequent to distinguishing this foundation, I needed to apply trusting that I have a potential for success to be one of your understudies, having met all the prerequisites for seeking after the program. Knowledgeâ acquired from my certificate and master’s program has encouraged cooperation with various individuals and sharing of important thoughts with them. In the wake of graduating in 2002, I functioned as an English instructor under the service of training until 2006. Later in 2009, I joined the Arab Open University, where I turned into low maintenance address until 2010. During that year, I worked with the Training focus of open security as low maintenance English Instructor. I later joined Taif University under the service of advanced education filling in as English instructor. Consequently, all through this profession way, I have confronted difficulties, which fill in as a wellspring of motivation to get more information in the field, so as to create different methods of managing the issues in my field. For this situation, I accept that by seeking after the PhD program, I will have the option to get more information that will profit others individuals and me. I have spent a noteworthy piece of my life getting information, and investing time and vitality on picking up involvement with the field of semantics. I had set targets, for example, establishing a decent framework of information by getting fundamentals from the degree program, which encouraged accomplishment my drawn out objectives to seek after my PhD program. Accordingly, through thusly, I have had the option to learn and adapt to the pace of changes happening in this field. For this situation, my observation towards accomplishment of vocation objective isn't tied in with getting by, yet has

Indira Gandhi Negative Positive

negative Indira Gandhiâ was the most degenerate government officials ever . Her governmental issues was terrible to such an extent that to stay in force and remain as uncrowned sovereign of India she forced crisis in 1977 . She made extraordinary laws, for example, persuasive vasectomy of men ( unmarried youngsters included ) to controlâ population of Indiaâ . She was a horrendous pioneer and one of the greatest criminal of all occasions . She consumed India monetarily and furthermore caused a great deal of disorder . At the point when Sikhs restricted her system ( in universes biggest majority rules system ) , she betrayed Sikhs .She attacked Golden templeâ on sixth june , 1984 , codenamed as â€Å"operation bluestar † , in any case to state that all alleged sikh radicals were made because of impacts of her shrewd system . She was given her due discipline on 31st october , 1984 for assaulting Golden sanctuary . Since brilliant sanctuary is similarly as critical to Sikhs as Kabba , mecca is to muslims or vatican city is to christians constructive The magnetic and age making character of Indira Gandhi left her engraving not just in the issues of her own nation yet in addition in worldwide affairs.She had a place with that respectable cosmic system of greatâ leadersâ who used exceptional force. Indira Gandhi was an Indian deeply and yet her vision went a long ways past her own country and grasped the whole human race. By temperance of being the Prime Minister of India, the biggest majority rule government on the planet, shewasâ able to make a critical commitment to the act of between national relations. She delighted in merited distinction and significant regard on the worldwide scene. An endeavor is being made here to feature her job as an international leader.Indira Gandhi was introduced to universal undertakings at an early age. As the little girl of Jawaharlal Nehru sheâ wasâ born and raised in a family and condition wher e national and universal legislative issues were talked about constantly. Her distinguished dad had taken consideration to teach her girl pretty much all viewpoints national and universal legislative issues. Thisâ wasâ amply demonstra-ted in Nehru’s letters to her girl from jail which were later on distributed in a book structure. In every one of these letters world history and legislative issues have been examined extensively.Besides, during the Prime Ministership of Nehru, Indira Gandhiserved as the official leader to heads of states and governments at the Teen Murti House. She additionally went with her dad in the greater part of his outside visits. Because of this she turned out to be very acquainted with global issues. So subsequent to turning into the Prime Minister of India she barely confronted any issue in understanding international strategy andâ wasâ able to make progress in this circle inside no time. Indira Gandhi inherited Nehru’s mantle andâ wasâ credited with completing the Nehru heritage in remote affairs.Following Nehru’s conventions, she advocated the reason for universal harmony, demobilization, against expansionism and hostile to racialism. She utilized the foundation of the Commonwealth, NAM and UN successfully. She safeguarded the rich legacy of Nehru as well as made her own commitment. She took certain choices keeping in see the pervasive conditions that brought about raising the height of India at the global level. Under her dynamic stewardship India’s voiceâ wasâ heard with deference in different worldwide oranisations and forums.Indira Gandhi had no verbalized world vision however had gained from her incredible dad to distinguish India’s national enthusiasm with free dynamic in universal issues, financial improvement at home and the prohibition of India and its neighborhood in Southern Asia from both of superpower’s effective reach. Her approaches were businesslike, her de alings with foreignâ leadersâ unsentimental. Her pride, her affectability to rise to treatment, her political aptitudes in defeating adversityâ€all assisted with shielding her legislature from surrendering to American or Soviet weights on explicit issues.She had an obvious view of India’s key and national interests. She realized that in global relations power checked more than individual impact and that the vital interests of a country were unmistakably more significant than moral standards. She followed commonsense strategies and her relations with theâ leadersâ of superpowers depended on cool figurings. When Indira Gandhi came to the steerage of issues, thatâ wasâ a bi-polar world. One blocâ wasâ led by the US and other headed by the Soviet Union. The Cold Warâ wasat its height.The atomic raceâ wasâ on. A few relics of expansionism and dominion were still there. Racialismâ wasâ prevalent in certain parts. World peacewasâ under a grave danger. In the c ircumstances Indira Gandhi followed the approach of non-arrangement as set somewhere around Nehru. Very soon the global network perceived her as aâ leaderâ whoâ wasâ committed to opportunity and harmony. Her job in the neutral momentâ wasâ duly perceived at the Seventh Conference NAM when sheâ wasâ elected its director in 1983 at New Delhi. This Conferenceâ wasâ a memorable one.The goals went at the Conference reflected Indira Gandhi’s diplomacy and far-sightedness. Her most significant commitment in the domain of world peaceâ wasâ the molding of the NAM. Her ableâ leadershipâ provided a going great for the Conference. It additionally prompted a superior comprehension of the normal issues of opportunity, harmony and social equity for the individuals of the Third World. Itâ wasâ through this Conference that she caused a significant piece of mankind to feel significant in the UN. Here she assumed a progressively powerful job as aâ leaderâ of humankin d in the universal arena.Her execution as the NAM Chairpersonâ wasâ superb and adjusted, and it instructed regard of part states as well as of the superpowers. Her confidence in the UN as the mediator of between state clashes and the most significant place for fitting the activities of countries can’t be addressed. For, as she herself stated, firm confidence in the UN is fundamental to the NAM. The point is the equivalent: to keep up harmony by expelling the wellsprings of strain and to draw out the mankind in individuals. Indira Gandhi symbolised the Third World’s regeneration.Under herâ leadership, Indian international strategy developed from the cognizant declaration of the rights and goals of recently free countries to a sharp mindfulness on their piece of their own duty in the worldwide setting. By declining to sign the NPT she increased political credit for maintaining India’s autonomy and for taking a principled remain against an unfair settlement. With Indira Gandhi at the steerage, India reappeared in the South Asian key stage and her India recorded its capacity and readiness to get a handle on the chances of intensity governmental issues in a provincial context.She made an imprint on the planet as an unrivalledâ leaderâ and a victor of the Third World. INDIRA GANDHI not just impacted history yet in addition left a mark on the world. With her remarkable aptitudes she adjusted the superpowers against each other. 1971was Indira Gandhi’s best hour in outside and security undertakings. Her ability lay in her natural handle of the open door which the Pakistani rulers gave to change the geopolitics of East Pakistan. The Bangladesh circumstance allowed her the chance to develop as a military specialist and a negotiator second to none on the provincial and the world stage.With the unmistakable and definitive triumph India andIndira were built up as a significant force and power on the planet. Indira Gandh ibecame the internationalâ leader. Her choices and timings were extolled and hailed as great. As Henry Kissinger concedes in his memoirs, Indira Gandhioutclassed and outsmarted Nixon and Kissinger. Itâ wasâ a mammoth jump in global height. The year 1971 spoke to the pinnacle of her political profession. She handled Nixon on equivalent standing. Indeed, even her severe pundits had to respect her guts. For instance, Leader of the Opposition in Indian Parliament A. B. Vajpayee called her Durga.Another Oppositionâ leaderâ declared in Parliament: â€Å"Madam, you have made history as well as another topography also. † After the war Indira Gandhi acted with incredible generosity at the Shimla Conference. She put India on the universal logical guide by detonating the country’s first underground atomic gadget at Pokhran in 1974. This flagged India’s atomic potential and its reluctance to submit to the atomic standards of the superpowers. One of the si gnificant highlights of Indira Gandhi’s outside policyâ wasâ the close ties with the Arab world. Itâ wasâ during the Nehru time frame that the establishments of a sound and suitable Arab approach were laid.The Indira Gandhi era seen an allround advancement of Indo-Arab relations. Indira Gandhi always manifested unmistakable fascination for the issues of the Arab world. Under her leadership India felt genuinely and ethically dedicated to the national desires of the Arabs to increase a legitimate spot in the comity of countries. She generally indicated a withstanding worry for Palestine which shapes the essence of West Asian issue. Thusly, in the UN and in its different discussions just as in various Afro-Asian and Non-Aligned Conferences Indira’s India upheld the Arab remain on the Palestine issue.On her arrival to control in 1980 Indira Gandhi dumped the Janata Government’s professional Israel arrangement into the dustbin and return ed to the Nehruvian approach. She welcomed PLO leader Yasser Arafat to New Delhi and set up formal political relations regardless of firm restriction and solid weights. Sheâ wasâ called Gamal Nasser’s niece, King Faisal’s

Video Essay Samples - Why Video Essay Sample Essays Is So Important

Video Essay Samples - Why Video Essay Sample Essays Is So ImportantVideo essay samples are very valuable when you need to write an essay for a college or university level. You may be needing to write for your college transcript, or for a test or exam, but the benefits of learning the correct essay writing style are often worth more than the price. It is even possible to write your own essays. What is it that makes these examples so important?Essay writing is a skill that requires practice. The more you write, the better your writing becomes. However, one of the main reasons people write poorly is due to their lack of experience. This is why many people with years of experience to write badly because they do not know how to write at all.That is why article authors will often put in extra work to try and make their articles look impressive and professional, but it is simply not enough. They cannot seem to capture a reader's attention. This is why video essay samples are such a valuable tool to those who are still at the novice stage.Writing a professional essay is very important, especially when you are trying to get into a competitive high school or college. Your goal should be to become a top scholar in your class. This means that you should know how to write essays. This does not mean that you need to have written hundreds of essays by now, but you need to know how to do it.Once you know how to write a good essay, it will become easier to write another one. This is the key to success. However, some people simply give up before they ever get there. This is why you need to be disciplined about the writing process. By reading videos by professional essay writers, you can learn how to do it right.A good essay is an exercise in good writing skills. The best example to use for this is an example of the best essay ever written. This is what your essay will become once you get past the beginner stages of writing essays.By looking at quality videos, you can see how eff ective some of the strategies and techniques used by the professionals can be. Video essay samples also provide an example of how the writer chooses to present information. Many beginners do not know how to write well at all. There are many examples available for a beginner to see and learn from.Essay writing is not easy. You have to know how to present information and write an interesting essay, but it is possible. By looking at a few professional videos on essay writing, you can get a real feel for how it is done. By knowing how to use videos for essay writing, you can get the best possible results.

How Elizabeth Proctors Character Shapes The Crucible

Elizabeth Proctor has a complex role in Arthur Miller’s â€Å"The Crucible,† the 1953 play that uses the Salem Witch Trials of the 1600s to criticize the witch-hunt for communists during the â€Å"Red Scare† of the 1950s. Miller could have written Elizabeth Proctor, married to the adulterous John Proctor, to be scornful, vengeful or pitiful, even. Instead, she emerges as the rare character, albeit a flawed one, in â€Å"The Crucible† with a moral compass. Her integrity influences her husband to become a more pious man. The Proctors in The Crucible Although Elizabeth Proctor is reserved, slow to complain and dutiful, as many Puritan women were described, she finds it painful that her husband committed adultery with their â€Å"strikingly beautiful† and cunning young servant, Abigail Williams. Before the affair, Elizabeth had encountered a few challenges in her marriage. A palpable distance between Elizabeth and John can be felt during the first acts of the play. â€Å"The Crucible† script never divulges Elizabeth’s true feelings about the scandalous relationship between John and Abigail. Has she forgiven her husband? Or does she just tolerate him because she has no other recourse? Readers and audience members cannot be sure. Yet, Elizabeth and John behave tenderly to each other, despite the fact that she views him with suspicion and he endures spasms of guilt and anger over his moral shortcomings. Elizabeth as Moral Compass of The Crucible Despite the uneasiness of their relationship, Elizabeth serves as Proctor’s conscience. When her husband experiences confusion or ambivalence, she prompts him onto the path of justice. When the manipulative Abigail sparks a witch-hunt in their community, of which Elizabeth becomes a target, Elizabeth urges John to put a stop to the witch trials by revealing the truth about Abigail’s sinful, destructive ways. Abigail, after all, wants to have Elizabeth arrested for practicing witchcraft because she still has feelings for John Proctor. Rather than tear Elizabeth and John apart, the witch-hunt brings the couple closer together. In Act Four of â€Å"The Crucible,† John Proctor finds himself in the most unenviable of predicaments. He must decide whether to falsely confess to witchcraft or hang from the gallows. Rather than make the decision alone, he seeks his wife’s counsel. While Elizabeth doesn’t want John to die, she doesn’t want him to submit to the demands of an unjust society either. How Important Elizabeths Words Are in The Crucible Given her function in John’s life and that she’s one of few morally upright characters in â€Å"The Crucible,† it’s fitting that her character delivers the final lines of the play. After her husband chooses to hang from the gallows instead of signing a false confession, Elizabeth stays put in jail. Even when the Rev. Parris and the Rev. Hale urge her to go and attempt to save her husband, she refuses to leave. She states, He have his goodness now. God forbid I take it from him! This closing line can be interpreted in several ways. However, most actresses deliver it as if Elizabeth is devastated by the loss of her husband but proud that he has, at last, made a righteous decision.

Occupational Profile Interview Sarah Cook, Rn, Bsn Essay

Occupational Profile Interview: Sarah Cook, RN, BSN, OCN Nursing is an emotionally, physically, and demanding profession. It truly takes a distinct individual to become a nurse, although, anyone could complete the course work and sit for the NCLEX exam to pass the licensure to become a nurse, with that being said, not everyone that completes the requirements to become a nurse will exhibit the quality nurses should. Nurses require empathy, compassion, knowledge of expertise, time management skills, superb communication and writing technique, and calmness amongst an emergency situation are beneficial attributes to possess. Sarah Cook, RN, BSN, OCN has been a nurse for over seven years, working inpatient oncology for four years and the last one and half years in oncology administration facilitating the building of Parkview Regional Medical Center’s Cancer Institute. Sarah attended college at Ivy Tech Community College where she attained her Associate in Science Nursing degree, c ontinuing her education at Indiana Wesleyan obtaining her Bachelors of Science in Nursing and currently pursuing her Masters of Science in Nursing and Masters of Business Administration. The demand for Advance Practice Registered Nurses over the next ten years anticipated growth to be 31%, according to The Occupational Outlook Handbook. The relativity of the growth can be contributed to adults living much longer lives, preventative health care, and changes in health care laws. As of 2014,

The United Nations Essay - 2270 Words

The United Nations The United Nations, with its rigid moral and political limitations against force, has become a benchmark of peace and a social achievement of modern times. From war torn Europe, the United Nations developed from five major powers with an initial goal to prevent the spread of warfare through peaceful means and to establish and maintain fundamental human rights. Through the past fifty years, this organization has broadened its horizons with auxiliary organizations from peace keeping missions to humanitarian aid, to economic development. However, in a modern example of ethnic cleansing, the UN faces new a new role as a bystander as its power is bypassed by NATO forces. The UN, however, promises to be an†¦show more content†¦However, the League, once secure used its representatives power and presence as a threat, but did not follow through with such threats when major opposition arose. For example, in the 1930s, the League of Nations possessed neither the will nor the mean s to stop them [fascist dictators in Italy, Germany, and Japan] (Patterson, UN, 14). Although this organization did little to prevent the Second World War in 1939, it did pave the way for humanitarian aid efforts to refugees and helped to resolve a number of border disputes before the war. Following the second of the World Wars, the League of Nations was replaced by the modern United Nations. This organizations aims were similar to their predecessors, to maintain harmony through settling border disputes and to offer humanitarian aid wherever necessary, but the UNs charter states further that tolerance and equality is necessary in peace: The Purposes of the United nations are: 1. To maintain international peace and security, and to that end: to take effective collective measures for the prevention and removal of threats to the peace, and for the suppression of acts of aggression or other breaches of the peace, and to bring about by peaceful means, and in conformity with the princi ples of justice and internal law, adjustment or settlement of international disputes or situations which might lead to a breach of the peace; 2. To develop friendly relations among nations based on respect for the principle ofShow MoreRelatedThe United Nations858 Words   |  4 PagesIt is the role of the most powerful states in the world, via the United Nations, by abiding to theories of liberalism which advocate for the use of international institutions to deliver peace, to intervene in the conflicts of other states if mass atrocities are being committed against vulnerable populations, or seem likely in the near future, and no other state or organization is stepping in to protect them. In order to most effectively provide this assistance, the Department for Peacekeeping OperationsRead MoreThe United Nations1385 Words   |  6 Pages specifically in this study, chemical and biological weapons (CBWs). The United Nations is probably one of the most powerful international organizations in the world. The preamble to the United Nations charter lists its many goals, among them are to prevent war among succeeding generations, to reaffirm faith in fundamental human rights, in the dignity and worth of humans, equal rights between men and women, large nations and small, to establish justice and respect for obligations arising from treatiesRead MoreThe League Of Nations And The United Nations1178 Words   |  5 PagesLeague of Nations and the United Nations are two unique forms of international governance created by world powers out of the same necessity—needing a better format of managing global conflict. However, both international organizations were created, structured, and operated under very different circumstances. For instance, the League of Nations was created during towards the end of World War I, when nations were looking for a governing body to address future global con flicts. Similarly, the United NationsRead MoreThe United Nations734 Words   |  3 PagesINTRODUCTION United Nations (UN) was an international organization exists in anarchical international system. It was established on 24 October 1945 in San Franscisco as successor to League of Nations which had failed in 1930’s. UN rights now has 193 members which obliged under the UN Charter. UN Charter has four main purposes, which are to keep peace throughout the world, to develop friendly relations among nations, aids nations in terms of humanitarian and lastly, to become center of synchronizationRead MoreThe League Of Nations And The United Nations957 Words   |  4 PagesLeague of Nations. the League of Nations was urgent to maintain a strategic distance from a redundancy of the abhorrences of the Great War. The primary points of the association included demobilization, avoiding war through aggregate security, settling question between nations through transaction and discretion, and enhancing worldwide welfare. Unfortunately, they failed and their failures caused the second world war . Then, after the world war II decided to replace the League of Nations by a new organizationRead MoreUnited Nations And The Nations1380 Words   |  6 PagesUNITED NATIONS PEACEKEEPING INTRODUCTION The world stays alive with seven continents, some countries, numerous states and a population of seven billion living on it. Making this big multitude live together in the world at large, sharing the same commodities, living in harmony is a difficult task. The more brains, the more wide perspective, the more broad definitions of peace in the world. To accommodate this perspective together in a room a unit called United Nations Charter was signed on 26thRead MoreThe United Nations And The Nations1301 Words   |  6 Pagesby and for the world, one that should rally nations. The nature of this task however, must be clearly understood; only then can suitable means for accomplishing it be formulated, only then can the role that the United Nations could and should play be appreciated† ( Wilcox/Haviland, 29). There are many international organizations that have been talked about throughout this semester. One of the most important ones is The United Nations. The United Nations wa s established October 24, 1945, and hasRead MoreThe Declaration Of The United Nations1482 Words   |  6 Pagesâ€Å"We the people of the United Nations,† is the beginning of the UN preamble. First states, â€Å"Determined to save succeeding generations from war.† Secondly to, â€Å"reaffirm faith in fundamental human rights.† Third, to uphold international law. And fourth, â€Å"to promote social progress and better standards of life in larger freedom.† The UN is a controversial topic that many people have different opinions about. In this paper it will discuss the history to how the United Nations came about, the structureRead MoreThe Origins Of The United Nations1218 Words   |  5 Pageshuman history we share a common destiny. We can master it- only if we face it together.† The origins of the United Nations began seventy years, here, in the United States. â€Å" In 1945, representatives of 50 countries met in San Francisco at the United Nati ons Conference. Each delegate deliberated on the proposals by the representatives of China, the Soviet Union, the United Kingdom, and the United States at Dumbarton Oaks starting in August of 1944. The Charter was signed in June of 1945 by each of theRead MoreThe Declaration Of The United Nations931 Words   |  4 Pagesof 1948 created by the United Nations, was the first document that outlined human rights on much more global scale. The Virginia Declaration of Rights drawn up by George Mason, consisted of 16 sections, which described the rights of men and what they could do within the government. It stated that all power is vested within the people and that all men are naturally born free and equal. It also stated that the government has to protect the security of the people and nation. It separated the government

Book Report The New Jackals Essay Example For Students

Book Report: The New Jackals Essay The Book is called The New Jackals. It was published in 1999 in GreatBritain. The publisher was Andre Deutsch Limited. It was also printed inthe UK. The book has 284 pages but there are 8 pages of pictures like thetwin tower and pictures of these twos mass destruction. The characters that are in the book are Osama Bin Laden, Ramzi Yousefplus the group of terrorists they both belong to. The first bombing was the Twin Towers. It happened on February26,1993. Where Ramzi Yousef planted a van filled with explosives in theunderground parking of the World Trade Center. Thank God the World TradeCenter did not blow up. It only damaged it. The size of the bombs thatYousef used had a velocity of15, 000 ft per second and usually the velocityof a bomb is 3,000 ft per second. Some of the things that were in the bombswere aluminium azide, magnesium azide and also bottled hydrogen. Yousef isa bomb mastermind. On March 4 they searched Mohammad Salamehs apartmentand found a whole bunch of phone numbers of suspects that could beconnected to the World Trade Center bombing. They also check phone recordsand found that he was making phone calls to Yousef when he was in the U.S. After they found out Yousef was the person behind all of this Yousef wasone of the most wanted men in the world. Now Yousef was on the run. February 7th 1995 Yousef was arrested. Then after Yousef gets arrested thebook goes through and lets you find things out about him like were he grewup and took university and stuff like that. Plus it tells us about when hefirst came to America. Yousef came to America in the summer of 1991. Thenit starts to get into Osama Bin Laden after Yousef is arrested. First Osamadid little terrorist things well they would only think there little but wethink they are big he blew up and killed U.S soldiers. In 1993 after WTCbombing they considered Osama a big threat. June 1993 Osama was involvedin attempt killing of Prince Abdullah. 1995 the CIA linked Osama being abig terrorist. In 1996 Osama was funding Islamic militants. August 6 1998Osama bombed a U.S embassy. And at the end of the book it tells aboutfuture of terrorists and things like that. The theme of the book is to show how cruel people can be. They goaround blowing things up. I didnt mind the book it was neat how it showedhow the terrorist planned how to blow some stuff up. Overall I would givethe book a 7 out of 10

Racism In America Essays (924 words) - Discrimination,

Racism In America Racism is an institution in America. It has existed since our Nations beginning, and it is now woven into many facets of society. Historically, white males have held all of the power positions in society. White males were the doctors, lawyers, and policy makers. Although minorities hold some positions of power today, white males still hold the majority of them. Despite legislation that has attempted to alleviate inequality in America, The Department of Housing and Urban Development maintains that, "disparity in home ownership is still great"(Washington Post, p.E10). Housing secretary Andrew M. Cuomo cites home ownership rates of, "72.5% for whites, 45% for African-Americans, and 44% for Hispanic-Americans (Washington Post, p.E10). Home mortgage denial rates are, "26% for whites and 53% for African-Americans" (Washington Post, p.E10). Given the fore-mentioned statistics that obviously indicate racism, federal housing officials launched a year long 7.5 million dollar study to investigate the racist practices of mortgage lenders, landlords, and other housing officials. Discrimination has become more sophisticated since the Fair Housing Act became law 30 years ago, according to complaints from the department. Cuomo commented, "Then it was more in your face. Now it is not as loud, not as flagrant, but just as devastating" (Washington Post, p.E10). The article, "U.S. Study to Target Racism in Housing," explains the link between attitudes and behavior related to issues of power, inequality, and discrimination. The racist attitudes of people in power, carry over to their behavior, which result in the unfair treatment of minorities. One explanation for this cycle is the Reasoned Action Model (text, p.240). The Reasoned Action Model is a theory of social psychology that examines the relationship between our attitudes and our behaviors. The theory suggests that our behaviors are best predicted by our behavioral intentions. If a person intends to do something, he/she is more likely to do it. According to the Reasoned Action Model, our behavioral intentions are shaped by a person's attitude toward the behavior and their subjective norms. A person's attitude toward a behavior is based upon his/her beliefs and evaluations of the possible outcomes of a behavior. A person's subjective norms are comprised of his/her beliefs about what significant others will say about the behavior and its outcome. Subjective norms are also affected by the person's motivation to comply with the wishes of significant others. The behavior of housing officials who discriminate against minorities can be explained using the Reasoned Action Model. Although the majority of housing officials probably do not say, "Today I intend to be a racist," their attitudes toward minorities cause them to behave in a racist manner. A housing official who discriminates against minorities is doing so because of his/her beliefs about possible outcomes of the behavior. What would happen if minorities were awarded home mortgages? Racist housing officials are not concerned about limiting where minorities will live. They are concerned about what will happen to their communities if minorities are awarded home mortgages. Housing officials are taking the issue personally. They are wondering, "What if they move into my neighborhood? What if they move into my mother's neighborhood? What if they attend school with my children?" These housing officials also believe that they are protecting their families and carrying out their wishes. Racism is simply fear that comes from ignorance. No one will ever know every single person in a particular race, yet people tend to judge people according to their personal beliefs about a particular race. Why do some people feel like it is okay to judge an entire race based on stereotypes? A stereotype is, "a schema of beliefs that attributes a set of characteristics to most or all members of a social identity" (text p. 454). Stereotypes are typically inaccurate. Most stereotypes about minorities are negative. Racist people use stereotypes as justification for having negative attitudes toward minorities. Housing officials do not want minorities in their neighborhoods because they believe that minorities will not keep up their property. They believe that drugs and violence will enter their neighborhoods, and that the house they paid so much for will lose its value. Some people actually believe that African-Americans and Hispanic-Americans ruin safe, peaceful neighborhoods. Stereotypes are perpetuated by American society. The media typically portrays African-American and Hispanic-Americans as lazy, poor, and uneducated. Some African-Americans and Hispanic-Americans are lazy, poor, and uneducated. The problem begins when the whole race is characterized negatively, and good people have to suffer. Every American should have the right to be judged as an individual. Another factor that contributes to the racist attitudes and behavior of housing officials is stigmatization. Stigmatization

Essay Sample on How the Budget Cuts Affect the Student’s Education

Essay Sample on How the Budget Cuts Affect the Student’s Education Sample essay: How the budget cuts affect the student’s education After the 2008 global economic recession, the United States education system has seen drastic budget cuts as states try to cut on budget deficits and get back on their feet (Congress, 2010). The move to cut budgets on public education has taken many forms including implementation of a four day school week, increasing class sizes and reducing state help to students with special needs. These measures are however, impacting negatively on the standards and quality of education and other aspects of the economy in the counties and districts in which they are implemented. This study will seek to analyze the negative effects of budget cuts on education. To start with, is the shorter school week. From the article, we are informed that, in South Dakota, close to 300 students from the district in south eastern South Dakota will no longer have classes on Fridays. This is because the schools have adopted a four day school week as a means of reducing costs and dealing with state budgets cuts. The positive impact of this is that, it will cut close to $ 50, 000 annually in costs. The move is being replicated elsewhere across the United States. There is bound to be a negative effect mainly on the standards of education. One of these impacts is that, due to the elongated period that they are out of school, they tend to forget what they have already learnt (BTimes Staff Reporter, 2011). Critics argue that, children especially those from poor families usually return to school having forgotten what they had learnt earlier. This was the principle behind the failed Obama administration initiative of increasing the school day, the school week and overall the school year. In other instances, some schools do not comply with the rules set for increase in study hours on an average day. For example, an interim report on this program found that, Smith ridge elementary school in Reno, Nev., was using the 15 minutes added each morning for breakfast, as opposed to academics (Dillon, 2011). Another effect of the reduced school week is that, it has led to increased class sizes. Reports show that, across the United States, millions of public schools have experienced increases in the sizes of their classes driven by budget cuts and teacher layoffs. This is a reversal of a trend that had started in the 1980s geared towards a smaller class. However, this has several drawbacks that negatively affect the quality of education. One of these is the increased fatigue on the teacher. An example of this is Racher Maher, a math teacher in Charlotte, N.C. She argues that, if a class of 25 gains 5 kids, that’s 5 more papers to grade, 5 more students that need make up if they are absent, 5 more parents to contact and send emails to, eventually Overwhelming the teacher. In addition to that, it reduces the rate at which the students grasp issues. Research conducted in the 1980s comparing classes of 13 to 17 in kindergarten through to 22 to 25 students in 3rd grade made several reve lations. One of them is that, smaller classes significantly outscored the larger ones on achievement tests (Dillon, 2011). The other negative effect of budget cuts on schools is its effects on community property taxes. In this, we will take an example of the state of New Jersey. Due to the declining funding on public education, the state of New Jersey has seen a shrink in tax revenues. Local property-tax incomes are expected to plummet as taxpayers in several neighborhoods vote out tax increases. In addition, tax assessments steadily catch up with the bust in home prices. Federal incentives financing, that under normal circumstances helped relieve the negative impact, is set to end after the coming school year (Merrick Whitehouse, 2010). In the state of New Jersey, this move has also curtailed the upward advancement of students who require special attention for them to advance. For example, a student named Kyle Scrapper; a 7th grade student will have to do away with math remedial classes. This, his teacher believes will hurt him negatively because the tutoring had helped build his confidence and push his grades from a D to a C. (Merrick Whitehouse, 2010). In conclusion, it is clear that, the budget cuts on public education have many negative effects to the quality of education in the United States. Starting with the reduced school week, this has the effect of interrupting consistency in learning and in the process reducing the students’ ability to internalize what they learn in class. This especially applies to students from poor families. The other negative effect is increased size. When the class size is increased, teachers are more overwhelmed by the volume of work and the speed of students grasping issues reduces. Lastly, is the fact that, overall it reduces the community property taxes as experienced by the New Jersey State. The case of New Jersey also brings out the fact that, students who need extra learning for them to understand are denied that opportunity and is likely to end up as failures. CustomWritings.com is online essay writing service which will help with your essays, term papers and research papers. Professional essay writers for hire!

Exile, loss, and alienation in Walcotts The Schooner Flight Essay

Exile, loss, and alienation in Walcotts The Schooner Flight - Essay Example The voice is conversational and narrative, at times detached, at times emotional, but always introspective. The poem also used sound and rhythm to reflect the sounds of the Caribbean’s ocean and the texture of their conflicted lives. The paper employs an eco-critical perspective and argues that the environment, both the nation and the sea, are depicted in different images, the nation both home and alien, while the sea, also uncertain, but lovelier because it allows flight and introspection. The paper argues that the writing poems and exploring the sea are similar to the process of exploring one’s individual and national identity that cannot be easily attained because of the Caribbean’s history of colonization and slavery that leads to themes of exile, loss, and alienation. Shabine experiences loss of identity because of being exiled and alienated in a nation where he is not considered white or black. Though he had personal conflicts with his division over his wif e (and their children) and Maria Conception, the poem also touches on socio-economic and political issues of slavery and lack of freedoms and rights in the Carribean. Clearly, Shabine is a divided individual, as divided as the structure of his poem that has enjambed lines and caesuras, but as a poet and a mariner, he left a positive image of being one with his true identity. Derek Walcott’s â€Å"The Schooner Flight,† published in1986 as part of the Collected Poems 1948-1984, depicts a schooner’s life, its making and his becoming. The speaker is a mariner mulatto, Shabine, who speaks as a poet and a â€Å"red nigger.† His diction and choice of words manifest both his education as a colonized object and a subject-poet. The iambic pentameter maximizes inner rhymes that express his frustrations and ideals as a mulatto and a poet. The paper uses eco-critical perspective and argues that the environment, both the nation and the sea, are depicted in different im ages, the nation both home and alien, while the sea, also uncertain, but lovelier because it allows flight and introspection. The narrative poem compares writing poems and exploring the sea as the convoluted process of exploring one’s individual and national identity that cannot be easily attained because of the Caribbean’s history of colonization and slavery that leads to themes of exile, loss, and alienation. Walcott used a mixture of English and Caribbean language and the diction of a seaman to portray his cross-cultural identity from a colonized viewpoint that can help explain his nomadic tendencies. He selected words that showed different factors that shaped and controlled his identity. Carenage is located in Saint Barthelemy in the Caribbean. He is an islander, but he wants to be more of a mariner, which is asserted when the title of the first stanza is â€Å"Adios, Carenage† (Walcott). By saying these words immediately, Shabine expresses his original inte ntion, to leave the island that is both alien and home to him. Shabine also used the word â€Å"bohbohl,† when he said: â€Å"But they had started to poison my soul/with their big house, big car, big-time bohbohl,† (Walcott, 1.30-31). â€Å"Bohbohl† means corruption that people in the government or anyone in power is involved with. It is a local word that describes local political issues. Shabine is tired of his nation’s corruption that he has been part of too. In addition, Meerzon (2012) argued that â€Å"The Schooner Flight† uses Shabine as a conduit for Walcott’s political and artistic ideas (p.76). Shabine expressed his racial and ethnic identity directly when

Internation Accounting Essay Example | Topics and Well Written Essays - 2000 words

Internation Accounting - Essay Example Narsimha Rao and the finance minister Dr. Manmohan Singh in the year 1991. Through this reform foreign direct investment was brought in many sectors. By the 20th century India headed towards a free market economy which reduced the state control of the economy with increased financial liberalization (Datt & Sundharam, 2009, p. 976). The Indian economy is the eleventh largest in the world by the nominal GDP and the third largest in terms of the PPP (Purchasing Power Parity). In 2010-2011 India maintained a GDP growth rate of around 8% thus bringing down the fiscal deposit of the country to 4.8% of GDP by maintaining a current account deficit to 2.6%. However, the fiscal year 2001-2012 has been a challenging for the Indian economy. With the progressing year monetary tightening was witnessed in response to the untamed inflationary pressures. The gradual increase in inflation of the Indian economy resulted in slowing down the growth rate of India. In spite of the economic turmoil in the c ountry India still is goring at a rapid pace in comparison to other developing countries. This in turn is enhancing the opportunity of India to push through further reforms, generate economic opportunities and create infrastructure for the country (â€Å"Current State of Indian Economy†, 2012, pp.1-7). The Indian financial market has progressed over the years especially in the banking sector with 14 nationalized banks to provide 40% of their net credit to priority sectors so as to fulfill the developmental and social goals of the country. Company’s Business HDFC bank mainly provides service in wholesale banking, retail banking and treasury services undertaken by the company. In the whole sale banking the target customers of the... This paper shows that according to the study of HDFC bank we can conclude that the company is performing very well even ender the turmoil economic situation of the country. The evidence of which is their increased net profit which has amounted to Rs.113, 413, 323, 000. But the cost of revenue of the company has increased over the year which is cause of concern for the bank. The company is listed in National Stock Exchange in India. The bank has made some investment decision which has resulted in negative returns for the company. This has reduced the cash and cash equivalents of the company to Rs. 209, 377, 263, 000. The accounting principles that is adopted in India is a little different from that of IFRS which is usually applied in developed countries like America, Europe, etc. Thus the item under consideration is usually a little different from that of a manufacturing company and so is their process of accounting. Hence, the bank under consideration has been successful in generatin g an income of Rs. 325,300,466,000. This paper approves that the impairment of the assets is usually assessed in the balance sheet of the company. The occurrence of the impairment loss, if any is forecasted in the profit and loss statement of the company. This generally arises when the carrying cost of the assets exceeds the estimated recoverable amount. The revisions of the accounting estimates are prospectively recognized both in current as well as future periods.

Critical Review for the Article Essay Example for Free

Critical Review for the Article Essay The electronic journal entitled: ‘The Long-Term Performance of Horizontal Acquisition’, by Laurence Capron of the Institut Europeen dAdministration des Affaires (INSEAD), published in 1999 by the Wiley and Sons publishing, has studied the creation of â€Å"horizontal mergers and acquisition†. In Capron’s paper, he dated his studies from mid-1980’s to early 1990’s financing strategies of firms in divesting and liquidating its assets which he referred as the â€Å"horizontal mergers and acquisition†. Capron has cited about 253 firms in Europe and America that patterns the financing strategies. According to Capron (1999), examination reveals divestment of assets and capital infusion (re-financing of liquidated assets) makes effective to â€Å"acquisition performance†, but could have potentially detrimental impact. As what Capron emphasized on the performance of acquisition based on â€Å"divestment and redeployment (re-acquisition) of resources†, his study examines the defects and compliments on effective means in â€Å"horizontal mergers and acquisition†. Key points and rationale As reviewed from the journal, the â€Å"horizontal acquisitions† may be exemplified as a means and strategy in establishing the resource-divestment scheme, in which by doing so, it â€Å"optimizes or exploits the values of cost-based and revenue-based synergies† (Capron 1999: p. 988). As explained, it may be perceived that the â€Å"synergy† patterns the continuing acquirement of business values, as a result of divestment wherein merging of the newly diversified firm or business values acquires more assets and capital budget. According to Capron (1999), the cost efficiency theory emphasizes on the significance of cost-based synergies that occur when assets have been divested resulting the integration of cost-saving measures. Thus, the firm performs effectively in enhancing its revenues that synergizes with the redistribution of the capital towards an enhanced capability. It may be analyzed from the findings of Capron that the 1980’s and 1990’s rapid growth of industries brought about by globalization have emerged more investments in the supply chain. One of which is the positioning of developed and high-end industries within raw material sources. Like, for example, diversification process has been developed in Asian countries wherein more investment in cheap raw materials and labor are available and can be acquired easily. The â€Å"horizontal acquisition† could be drawn from establishing partnership, subsidiary in operation, joint ventures and inter-dependency in export and import schemes. Hence, for example â€Å"Company A† has divested in establishing â€Å"Company B† to engage in tire manufacturing that source out the cheapest raw materials. In which case, a diversified industrial firm could venture out into â€Å"versatile† business values that optimize capital investments for a larger revenue generation translated into cost effectiveness that means substantial profitability. In Capron’s finding, the so-called â€Å"economy of scale† became the bases of diversification process that paved the way to a â€Å"large-scale† industrialization. The 20th century practice of the economy of scale has favored more industries to capture the â€Å"investment areas†, specifically in poor countries. The â€Å"dispensation of merging† through open-ended stockholding in small-medium-large enterprises units has put significant relevance in acquiring industrial partnership, wherein capital investment has a critical role in merging companies. As cited from Capron’s findings, the logical economic explanation is capturing revenue-based synergies which are commonly identified as allocating and complementing resources by providing â€Å"core competencies† or â€Å"mobilizing invisible assets† (Penrose 1959; in Capron 1999: p. 989). As cited, Capron also pointed out in his â€Å"theoretical model† of post-acquisition and target redeployment (Capron 1999: pp. 990-995). According to Capron, the theory describes the diversification process as focusing on (1) asset divestiture, (2) cost-saving, (3) resource redeployment, and (4) revenue-enhancing capabilities as an effective means of â€Å"acquisition performance† (Capron 1999: p. 992). The theoretical model refers to and explains the â€Å"basic economic behavior† as outlined in the acquisition performance. Capron further theorized that capabilities in a divested firm are being distributed as an organizational undertaking. Meaning, it can be explained that the system of corporate governance and human resources are distributed or being shared that composes the acquisition performance. However, key â€Å"organic elements† were emphasized to have been integrated in the divestment process, in which the re-deployment (or deployment) of the organizational â€Å"system or setting† are acquired. Conclusion Capron’s examination on the horizontal acquisition and projection of model in strategic post-acquisition and redeployment could be understood as a fundamental undertaking in diversification process. It may be true that most of merging firms in their acquired assets or business are mainly distributing their in-placed â€Å"organizational or corporate system†. However, the merging firms could likewise optimize or â€Å"streamline the existing organizational set-up, which is the common occurrence in most firms that undertaken a â€Å"buy-out†. It may be perceived that the revenue-generation could be largely acquired into options by streamlining the existing organizational set-up or re-organizing both human and capital resources. Capron’s findings have emphasized more on the performance capability on the theory of â€Å"horizontal acquisition† referring only to capital budget, as implied on the capital resources or fixed assets of the firms. The human resource aspect [as a critical unit] of the post-acquisition process may have not been well emphasized. What has been generally discussed in the study is the transformative business value in divestment schemes referring to capital investments and fixed asset liquidation. It could be reflected that the capital investment and fixed asset liquidation are the critical factors in the divestment schemes as the primary resource of merging stakeholder. It could be suggested that the â€Å"potentially detrimental impact† [as also pointed out by Capron] could be referred to the human resources or labor force in a diversified industry. The merging stakeholder in Capron’s findings were much given relevance on how they could effectively perform in targeting their post-acquisition and redeployment, in which the study itself envisions to complement the performance capabilities of the stakeholders. At this point, we may re-examine Capron’s â€Å"theoretical model† as giving more â€Å"weight† to the envisioning of transnational and multi-national enterprises in furtherance of globalization, in which the continuing divestment scheme competes in the large scale economy of labor market and capital build-up. We may then conclude that Capron’s findings could be re-examined with further studies relating to human resources re-deployment or deployment on its horizontal development complementing the diversification of industries, in which the parallelism envisions both human and capital divestment. Section B Morrison’s bid to Safeway The electronic magazine of the Financial Times on its December 8th 2003 issue at the www. ft. com web site has published the news article of Richard Milne entitled: ‘Countdown Starts for Morrisons Bid for Safeway’. According to the news article, the Morrison Supermarket bided 21 days from its competitors, such as Tesco, J. Sainsbury and Asda-WalMart, following the UK government’s offer to sell the Safeway supermarket. The UK Department of Trade and Industry disclosed that â€Å"Morrison was willing to sell its 53 stores if acquisition of Safeway is successful† (Richard Milne 2003; in Ft. com 2008). Morrison’s negotiation was favored by the UK Competition Commission that disqualified the three major competitors from the bidding and upheld Morrison to takeover Safeway with a share of 219-1/2 from the 279-1/2, in which Safeway acknowledged the buy out. In a follow up report in 2004, after a year of the buy out, the Safeway has gained 40% of sales growth. Financial analysts claimed that Safeway has â€Å"migrated customers† to Morrison supermarket, as it cited that â€Å"quality of sales has gone better because Morrison has stopped the Safeway policy of rolling deep discounts† (Martin Dickson 2004; in Ft. com 2008). Perception of the issue Morrison’s takeover of Safeway supermarket has gauged the situation of significant financial divestment venture. The business potentials of Safeway [being an established supermarket that solely competes with Tesco, J. Sainsbury and Asda-WalMart] were the â€Å"strong intent† of financial divestment of Morrison to even offer the sell of its 53 stores. The financial divestment of Morrison could be relating Capron’s findings on the â€Å"horizontal acquisition† of merging stakeholders by way of capital investments through diversified assets. In which case, the Safeway supermarket has found by Morrison as a â€Å"potential divestiture† that shall absorb the vulnerability from tough competitors. The merging of stakeholder through a buy-out or takeover of an established investment [like Safeway] may have validated Capron’s theory of â€Å"post-acquisition and redeployment†, in which Morrison has able to â€Å"contain† the migratory customers and could further develop the acquisition performance of divesting financial investments. The divestment process of Morrison’s takeover to Safeway has likewise described Capron’s finding on merging firms that engages in the economy of scale. One that Morrison has learned from the Safeway’s enterprise approach on rolling deep discounts, wherein it found to be defeating the â€Å"selling schemes†. Thus, managing the risks in â€Å"horizontal acquisition† has gained Morrison’s capability to undertake strategic competition that transformed the â€Å"old Morrison business† through the new outfit of Safeway supermarket. It may be then generally perceived that Capron’s theory on â€Å"horizontal acquisition† has transformative business value in enhancing the financial investment and liquidating a frozen asset [like Morrison’s 53 stores that are non-performing], of which a â€Å"unilateral† financial divestment scheme in managing risk investment, that is vulnerable to tightened competition, gains flexibility upon acquiring an established business venture. However, this assumption is perceptive of a challenge to the continuing financial divestment of core industries in the global market. List of References Capron, L. (1999) ‘The Long-Term Performance of Horizontal Acquisition’. Strategic Management Journal, pp. 987-1018, John Wiley Sons, Ltd. , CCC 0143– 2095/99/110987–32. Dickson, M. (2004). ‘Companies UK: Safeway Sale’. The Financial Times (2008). [online] available from http://search. ft. com/ftArticle? queryText=Morrison%E2%80%99s+takeover+of+Safe wayy=3aje=truex=16id=040521002246ct=0 [14 June 2008] Milne, R. (2003). ’ Countdown Starts for Morrisons Bid for Safeway’. The Financial Times (2008). [online] available from http://search. ft. com/ftArticle? queryText=Morrison%E2%80%99s+takeover+of+Safe wayy=3aje=truex=16id=031208004508ct=0 [14 June 2008]

Physics and Firearms :: physics firearm gun guns ballistics

So you are into reloading and you wonder how well that little package with 77 grains of IMR 4350 powder behind a 300 grain round nose, full metal jacket bullet will do. Well, you can do two things, a little bit of physics calculations, or go out and touch it off, hoping that it doesn’t explode in the barrel! I would choose to do a little physics myself†¦ By using some basic physics equations, you can figure out just about any part of the rifles ballistics data. For instance, if you know a few variables, you can predict range with physics, or if you like you can figure things like drag on the bullet, pressure and expansion values inside the gun, on the bullet and much more, all from physics. So, lets take a look at both the potential and kinetic energies of the .338 Winchester magnum. I will use a load given by the Winchester Reloading manual, which can be found online at: http://www.winchester.com/reloader/index.html This load is a 300 grain bullet, using 59.8 grains of Winchester 760 powder, and this gives a muzzle velocity of 2285 ft/sec. For potential energy we know that PE=mgh, where PE= Potential Energy, m=mass, g=acceleration due to gravity, and h=height. So for a 300-grain bullet, the potential energy is calculated by first finding the mass. To do this, take 300grains/7000grains/pound. This gives you a value of .042857lbs. Then we need to convert pounds to slugs (slugs are the units of mass†¦) .042857lb/32.2ft/s^2=.001331slugs. Now we can calculate the potential energy of our 300-grain bullet. We will assume that h=six feet, since that is roughly the height of the barrel when I shoot from a standing position. So, since PE=mgh, we get PE=(.00133slugs)(32.2ft/sec^2)(6ft)=.256956lbft. The answer is pretty much nothing and so we can pretty much ignore the potential energy of that bullet sitting at six feet in the air, but now lets look at the Kinetic energy of this bullet when shot. Since this bullet will be twisting when it flies, it will have rotational kinetic energy, but I really don’t want to get into those calculations and from what I have read, the amount of energy given by rotation versus that of the charge behi nd the bullet is really insignificant so I will only calculate the KE as if the bullet is not rotating. The formula is KE=1/2mv^2.

Independence for women Essay

Independence of women Speaking of women’s independence, people will think of the image that women determined to fght with men in workplace. This is widely recognized in our life. In fact, the independence not only mean argue with men in the career, it’s about women find their own position or not. So independence is a self-understanding because it may decide you can get more personal benefit from the economic, ideological or social, and it will make you have a good attitude and new values. Women should be economically independent, and then they have qualified to talk about respect or quality. In order to make a living, unmarried women can’t put hopes on marry the rich men. Many girls who always rely on rich men, over time, those men may feel tired. Because of economic problems, the girls’ boyfriend will have contradiction with you. If there are more and more conflicts, your feeling will fade. Moreover, Women should keep their own Job or still have economic source when they married. In â€Å"chocolate† movie, Josephine because of her identity has problem. She had to rely on her husband. His husband thought her life was saved by him. So he hit and humiliated her all the time. She can’t get respect or equality in her family. Ideology determines women’s behavior, so only being able to form their own opinions, it will make you behavior gets more approval from others. Women’s behavior is their expression of ideology. People often said, wonderful thinking, wonderful life. In â€Å"chocolate† movie, the heroine has her own opinions. She always did everything according to her ideas. Finally she got more attention and help people change old opinions. Besides, Ideology affects women’s relationships with others. Even some men like give women suggestions or ideas. If women have different mind to share with them, they may be amazed at women’s thinking, and also will praise women. Social independent make women adapt to social development and change, and it leads you have more improve. Women easy to lost goal or mind in the constantly changing society. Women can’t expect someone can give you ideas. In â€Å"the namesake† movie, the heroine’s husband always stays with her, and helps her figure out problems. When she lost her husband, she didn’t know how to continue the rest of live. Social independence can attract more attention from others. In â€Å"chocolate† ovie, because of the leading lady was good at independent living, it makes people pay attention to her. Finally, they found, it leads their life to good direction. Therefore, it won more respect and love for her. All in all, women independence doesn’t mean completely dependent on others, it is women’s self-understanding because it can get more benefit, and it will get more love and attention from other people. So, economic, ideological or social independent is necessary for women. At the same time, I hope every woman have ability to independently, and they can play more and more important role in social life, including myself.

Corporate Governance Firm Of India Finance Essay - Free Essay Example

Sample details Pages: 14 Words: 4347 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Corporate governance structures play a vital role in enhancing the firm value. This paper examines the effect of two important corporate governance variables board size and promoter ownership on the firm value. The research using linear regression analysis on 176 non-financial listed companies for year 2008 finds a negative association of Tobin Q with board size and a significant positive association with promoter ownership. Don’t waste time! Our writers will create an original "Corporate Governance Firm Of India Finance Essay" essay for you Create order The research makes an endeavor to search for an ideal board size and gives insights on moderating effect of firm size on corporate board performance. Study also finds that above the critical ownership level of forty percent, promoters interest is much aligned with that of company and there is positive effect on firm value. Corporate governance has developed as an important mechanism over the last two decades. The recent global financial crisis has reinforced the importance of good corporate governance practices and structures. It is now well recognized that corporate governance structures play an important role in enhancing firm performance and sustainability in long term (Bonn, 2004; Erickson et. al., 2005; Ehikioya, 2009; Iwasaki, 2008; Cho and Kim, 2007). There has been tremendous research on corporate governance structure and firm performance particularly in the developed world. On the other side, there is very little research on the influence of corporate governance variables such board structure on firm performance in India (Dwivedi and Jain, 2005). India as an emerging giant is gradually moving from controlled to market based economy with market capitalization of all listed companies touching nearly rupees 1 trillion (Sehgal and Mulraj, 2008). Corporate governance has now become a norm in India with Securities Exchange Board of India (SEBI) making it mandatory for all the listed to adopt Cause 49 of the Listing Agreement. However, capital markets are still nascent and market for corporate control is weak (Standard and Poors 2009). Indian firms are predominantly of family origin and promoters controlled (Chakrabarti, 2005). Corporate governance structures, therefore, rely much on internal structures rather than external one for enhancing the value. The corporate board and insider ownership (promoters) are in Indian business are two important internal corporate governance structures. Shleifer and Vishny (1997) have suggested that corporate governance deals with the ways in which suppliers of the finance to corporation assure themselves of getting a return on their investment. Shareholders are owners of company who contribute their wealth. Through corporate governance mechanism, they apply control over the management of the company for the wealth maximization. The boards of directors act as representatives of shareholders achieve this endeavor by reducing the agency cost (Fama and Jensen, 1983). In Indian regulatory environment board of directors of a company act as fiduciaries of the shareholders, provide active supervision and do strategic decision-making. The Indian investors, however, have general predisposition to discount the role of board due to stronger ownership concentration and insider control. The board is an important corporate governance mechanism under Indian context to protect the minority shareholders from dominant shareholders. In addition, insider ownership by the promoters of the company is general characteri stic of most firms. India is gradually moving towards market-based economy, however, such is the peculiarity that ownership lies predominately in hands of few people of group of peoples. In order to expand our understanding on emerging and transforming economy of India, the present study attempts to investigate effect of two corporate governance parameters on the firm value. The study is based on the 176 non-financial firms listed on Bombay Stock Exchange (BSE) for period 2008-09. The research done is during the period when entire world was eclipsed by global financial crisis and Indian firms were under financial distress to some extent. The study attempts to testify the different theoretical and empirical foundations establishing a relationship of board size and promoter ownership with TobinQ. We also investigate the moderating effect of firm size on corporate board performance and different levels promoter ownership on firm value. The results of this study extend the literature on corporate governance structure and opening up new avenues for further research. We first begin with theoretical background with literature leading to development of our hypothesis THEORETICAL BACKGROUND AND HYPOTHESIS DEVELOPMENT Board Size and Firm Performance Boards of directors are the representatives of shareholders and other stakeholders of the company. A corporate board is delegated with the task of monitoring the performance and activities of the top management to ensure that latter acts in the best interest of all the shareholders (Jensen and Meckling, 1976; Erickson et al., 2005). In addition, Ruigrok et. al. (2006) suggest that the board has important roles such as design and implementation of strategy, and fostering links between the firm and its external environment. Under statutory provisions delineated in Indian Companies Act, 1956 the board is vested with sufficient powers and responsibilities to act in diligent way, manage and control the management of the company in order to maximize the value of shareholders and stakeholders. The board of the company is considered as one of the primary internal corporate governance mechanism (Brennan, 2006).A properly constituted board with optimum number of directors can effectively monitor the management and drive value maximization. Some researchers, however, been skeptical about boards ability to mitigate the agency problem and enhance firm value (Erickson et. al., 2005). The number of directors on the board (or board size) is therefore, a critical factor that can influences the performance of a company. The board acts on behalf of shareholders and considered as a major decision-making group. The complexity of decision-making and effectiveness is largely affected by the size of the board. There has been mixed response to board size and corporate performance. The direction of influence depends upon the extent to which board is able to reach consensus, and take advantage of the knowledge and expertise of the individual members. There is, however, no agreement over whether a small or a large board is effective in enhancing the performance of a company. Two contrasting views emerge from the extant literature on the contemplating effect of board size on firm v alue. One school thought views larger boards are effective in driving the performance of company. Various researchers (Ehikioya, 2009; Coles et. al., 2008; Dwivedi and Jain, 2005; Klein, 2002; Dalton et. al., 1999; Kathuria and Dash, 1999; Pearce and Zahra, 1992) document a positive relationship of board size with the firm value. There have been several arguments in support of larger boards. One view is that larger boards allow directions to specialize, which in turn can lead to more effectiveness (Klein, 2002). Larger boards have people from diverse field. The knowledge and intellect of this increased pool of experts can be utilized for making some strategic decision of the board, which can drive performance of the company (Dalton et al., 1999; Pearce and Zahra, 1992). The larger pool of people on the board results in greater monitoring capacity, and also enhances the firm ability to form greater external linkages (Goodstein et al., 1994). Coles et. al. (2006) find that firms requi ring more advice derive greater from the larger boards. There are, however, strong contrasting views and evidences to the above argument. Contrary school of thought views larger boards are less effective in enhancing the performance of the company. Many researchers find a negative association between board size and performance of companies (Yermack, 1996; Eisenberg et. al., 1998; Cheng, 2008; Boon et al., 2004; O Connell and Cramer, 2010; Rashid et. al., 2010; Conyon and Peck, 1998; de Andres et. al., 2005). Cheng (2008) suggest that larger boards exist even though they are value reducing because they necessary for some type of companies and under certain conditions. Coles et. al. (2008) point negative association of board size with firm value exists due to some other exogenous factors. Many scholars suggest that as board size increases above the ideal value, many problems surface which outweigh the benefits of having more directors on the board, as mentioned above. Contrasting t o smaller boards, larger number of director on board increases the problem of communication and coordination (Jensen, 1993; Boon et. al., 2004; Cheng, 2008) and higher agency cost (Lipton and Lorsch, 1992; Cheng, 2008; Jensen, 1993). Lipton and Lorsch (1992) suggest that dysfunctional behavioral norms and higher monitoring cost due less diligence in larger boards give rise severe agency problem. Larger boards may also have problem of lower group cohesion (Evans and Dian, 1991) and greater levels of conflict (Goodstein et. al., 1994). Goodstein et. al. (1994) and Jensen (1993) similarly argue that greater problem of coordination leads slow decision making and information transferring which drives inefficiency in companies with larger board size. Larger boards may be skeptical about taking a strategic decision that can maximize the value of company (Boon et. al., 2004; Judge and Zeithamal, 1992).The larger boards, therefore may become more of symbolic and less a part of management pro cess (Hermalin, and Weisbach, 2001). The above discussion clearly lays down a platform to propose that board size may have positive or negative association with firm performance. The vast literature on board size on firm performance predominately foresees that board size is negatively associated with firm performance, which gives support to develop our hypothesis 1. We also argue that increasing the number of directors above certain limits may have more deteriorating effect on firm value. Below certain board size, there is relationship of firm value with board size is less negative and above that, it increases. Therefore, in order to support our argument we propose our second hypothesis that above certain board size (in our case median board size of entire sample) has negative association with firm performance increases. We also propose third hypothesis that boards of larger companies have less negative association with firm performance than those of smaller firms. The argument i s that boards of larger companies may well equipped with resources, skill base and knowledge expertise to take strategic decisions in period of financial distress. The board of smaller companies may lag behind to actively utilize resources and drive performance. Hypothesis 1. Board size exhibits a negative association with firm performance Hypothesis 2. Smaller Boards have less negative association with firm performance than larger boards Hypothesis 3. Boards of larger companies have less negative association with firm performance. Promoter ownership and Firm Performance Promoter in general sense are persons or group of persons who are involved in the incorporation and organization of a corporation. Promoters are important part of companies in Indian business context as most of the companies are of family origin. Promoters are integral part of business element, but not have statutory recognization in the Indian Companies Act, 1956 as the term Promoter does not have any legal connotation. The term, however, finds its place in Securities Exchange Board of Indias (SEBI) Disclosure and Investor Protection, 2000 (DIP Guidelines) and Substantial acquisition of Shares and Takeover Regulations, 1997 (Takeover Code). According to these SEBI regulations, Promoter or Promoter Group exercise sufficient control over the company by virtue of their shareholding and management rights. Evidences show that concentrated ownership is most common form in most countries (La Porta et.al., 1999), and also in India. Family houses and corporate groups, who are generally the promoters, have substantial ownership in companies. The pyramiding and tunneling effect of ownership is prevalent in India (Chakrabarti, 2005). These effects provide promoters enough them control over management of the company. According to Mathew (2007), promoters of BSE 500 were having 49 percent shareholding. In Indian companies, promoters in such a case raise the issue of owner- manager control similar to that of some other Asian countries. Promoters by virtue of their position and control have considerable power and wield significant influence on the board and management of the company over the key strategic decisions. La Porta et. al. (1999) believe high ownership concentration by particular group positions their interest above other shareholders and gives them the predominant voting rights and control over the management. Under these conditions, they may pursue policies, which benefit them and deteriorate firm performance. On other side, Shleifer and Vishny (1997) point t hat presence of dominant large shareholder or group can enhance their controlling ability, reduction in agency cost and therefore the firm performance. La Porta et. al. (1998, 1999) has observed that controlling shareholders (like promoter groups) exist in countries with investors low legal and institutional protection. According to Jensen and Meckling (1976), high ownership concentration may lead to more alignment effect. This effect may impart promoters a strong incentive to flow value-maximizing goal. However, in contrasting argument by Demsetz (1983), this can also have entrenchment effect, which can decrease the firms value. Claessens et. al. ( 2002) in similar arguments suggest the same thing, until a particular level of stock concentration alignment effect are more predominant and after that expropriation cost of minority shareholders out these benefits and firm performance declines. It is, however not clear, whether measures of corporate governance affect performance in t he same way when ownership is not in general widely dispersed, in particular when ownership is concentrated in the hands of families that are promoters (Corbetta and Salvato, 2004). The promoters are in general sense the owners and managers in Indian business context. Jensen and Meckling (1976) have pointed as level of managerial ownership increases, conflicts reduces and that increases firm performance. Fama and Jensen (1983) and Stulz (1988) also argue that greater ownership control by insiders (managers) give enough powers over externals owners to influence firm performance. Many scholars have studied the effect of ownership by different group on Indian companies (Dwivedi and Jain, 2005; Sarkar and Sarkar, 2000; Khanna and Palepu, 2000; Salerka, 2005), but none of these studies does give any particular reference on effect of promoter ownership on the firm performance. Salerka (2005), however, has analyzed the insider ownership effect on the firm value, and found a curvilinear relationship. Studying the effect promoter ownership on the corporate performance may be of utmost important in period of financial distress. They are who can in position to take any important strategic decision to drive the performance. Therefore, high promoter ownership in period in such a period may enhance the firm performance. This leads to development of our fourth hypothesis that promoter ownership is positively associated with firm value. Further, above certain ownership, promoters may exert significant control over firm and drive the decision-making in the company, thereby increasing firm value. 4. Promoter ownership exhibits positive relationship with firm performance 5. Greater promoter control is positively related with firm performance RESEARCH DESIGN Data The sample used in this study includes 176 firms listed on the Bombay Stock Exchange (BSE) of India during the financial year 2008-2009. The sample includes only non-financial firms from BSE 200 index, which accounts for 72 percent of market capitalization. The data on board size and promoter ownership (company has to separately disclose promoter ownership under Clause 35 of Listing Agreement) was collected from annual reports of the companies. The other financial and market data was obtained from Prowess database of Centre for Monitoring Indian Economy (CMIE). The data thus obtained was used calculating and measuring the different variables used as control variable in the model. Model The model for our study represented by following equation: T Tobin Q = ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²0 + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²1 BSize + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²2 PrOwn + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²3 LAge + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²4 LSize + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²5 Lev + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²6 SGrowth + e Performance Variables: The researchers have used different parameters for the assessing the firm performance in conjunction with various predicator variables. The commonly used performance variables cited in the corporate governance literature being the Tobins Q, return on assets (ROA), return on equity (ROE), market to book value ratio (MBV), price to earnings ratio (PE). The present regression model uses only TobinQ for assessing the firm performance against the predictor and control variables. Variables of Interest: Two variables of our interest that have used to test our five hypotheses are board size (BSize) and promoter ownership (PrOwn). The variables have used under different specifications to empirically find out their net effect on firm performance. Control Variables: Different control variables such firm age (LAge), firm size (LSize), leverage (Lev) and growth control (SGrowth) have been included in the study for account for potential advantages of economies of scale, scope of market power and risk characteristics of firms. These variables have been used in many prior studies, and are correlated with firm performance (Hermalin and Weisbach, 1991; Vafeas and Theodorou, 1998; Bonn et. al., 2004) Table I Variable definitions and Measurement Type of Variable Variable Definition and Measurement Dependent: Performance TobinQ Tobins Q , measured as market value of equity plus book value of short-term and long-term debt divided by total assets Independent: Predictor BSize Board Size, the number of director on the board of a firm. Independent: Predictor PrOwn Promoter Holding, percentage of total equity ownership of promoter group in the company Independent: Control LAge Firm Age, measured as the logarithm of the number of years since the establishment of a firm Independent: Control LSize Firm Size, measured as the natural logarithm of total assets. Independent: Control Lev Firm leverage, measured as the ratio of long term debt to the total assets Independent: Control SGrowth Sales growth, measured as total sales of the current year minus total sales in the previous year divided by total sales in the previous year RESULTS AND DISCUSSION The analysis begins with presentation of the Pearsons correlation matrix (table II) which shows that the degree of correlation between the independent variables is either low or moderate, which suggests the absence of multicolinearity between independent variables. Table II Correlation Between Explanatory Variables Correlation BSize PrOwn LAge LSize Lev SGrowth BSize 1      PrOwn -0.039 1     LAge 0.137 -0.024 1    LSize .275(**) 0.094 .153(*) 1   Lev -0.038 -.215(**) -0.104 .273(**) 1  SGrowth 0.105 -0.13 -0.042 0.067 0.07 1 ** Correlation is significant at the 0.01 level (2-tailed). * Correlation is significant at the 0.05 level (2-tailed). The Pearsons correlation between each pair of independent variables should not exceed 0.80, if that happens then independent variables may suspected of exhibiting multicollinearity (Bryman and Cramer, 1997). Correlations are within the acceptable range (0.01 0.775). In addition, the colinearity diagnostic statistics (e.g. tolerance (TOL) and variance inflated factor (VIF)) support the Pearsons correlations and provide no proof of a multicollinearity in the regression model. The analysis of Table II, further reflects board size is positively correlated with firm size (significant at 1 percent) implying that larger companies tend to have larger boards. The summary of descriptive characteristics of the dependent and independent variable is presented in Table III. The results show mean (std deviatio n) board size is 10.74 (3.08), reflecting that most of firm have board size between 8 to 14 (128 firms) which is 72 percent of entire sample. The promoter ownership shows high variation with minimum and value being 0 and 100 with average (std deviation) of 53.32 (21.48). It can be observed that promoters with such ownership right have controlling stake in most of the firms. As already discussed, high insider ownership may drive firm value. Sales growth and leverage also reflect a high variability in their values for the given period. Average leverage of 25.86 percent shows that firms (our sample) rely on more on equity capital and other sources of fund than debt. In order to analyze further, we have segregated smaller and larger firms based Table III Descriptive Analysis of Variables TobinQ BSize PrOwn LAge LSize Lev SGrowth Mean 1.46 10.74 53.32 3.31 8.87 25.86 55.71 Std. Deviation 1.32 3.083 21.48 0.76 1.16 21.91 473.79 Minimum 0.0042 5 0 0.69 6.6717 0 -100 Maximum 8.6548 20 100 4.86 12.41 89.61 6286.93 Table IV Smaller and Larger Companies Smaller Companies BSize PrOwn ( percent) Asset ( Rs Crore) N  88.000 88.000 88.000 Mean 10.060 50.558 3140.306 Median 10.000 49.991 2943.995 Std. Deviation 2.684 17.366 1379.618 Minimum 5.000 9.733 789.720 Maximum 20.000 99.506 5859.540 Larger Companies BSize PrOwn ( percent) Asset ( Rs Crore) N  88.000 88.000 88.000 Mean 11.430 56.088 28216.983 Median 11.000 55.070 16215.695 Std. Deviation 3.311 24.732 36429.286 Minimum 5.000 0.000 5986.080 Maximum 20.000 100.000 245953.160 Difference between Means (Z value) 3.015* 1.716*** 6.452* * significant at 1 percent, ***significant at 10 on median asset size of Rs. 5922.1 Crore. The noticeable aspect of statistics reflected in Table IV is significant difference in average board size between small and large firm. (10.06 vs. 11.43), inferring that larger companies take people from wider pool to sufficient expertise and intellect on the board. The table IV also shows that average promoter ownership between small and large firms is significant at 10 percent (50.55 vs. 56.08). The results of empirical findings with coefficients and t values (* significant values) are presented in Table V, VI and VII. The findings of Table I show result for the entire sample that supports our hypothesis 1 and 4. Hypothesis 1 forecasts a negative association between board size and firm value and this supported by negative coefficient of BSize (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²1) in the model, though relationship is not significant. The results are in line with international studies but do not support results of previous Indian studies (Dwivedi and Jain, 2005; Kathuria and Dash, 1999). Promoter ownership was found to positively correlated (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²2= 0.011) with firm performance in our model (Table II) giving support to our hypothesis 4. The results prove that high promoter ownership in the company, help them to take important decisions and drive performance during the financial distress period. Table V Model Summary Dependent Variable TOBINQ Independent variables Coefficients t (Constant) 3.271 4.081* BSize -0.031 -0.968 PrOwn 0.011 2.492** LAge 0.144 1.150 LSize -0.255 -2.839* Lev -0.011 -2.462** SGrowth 0.000 0.413 R 0.406 R square 0.165 Adjusted R square 0.135 F change 5.556* * Significant at 1 percent, ** significant at 5 percent Hypothesis 2 predicated that smaller boards have less negative correlation with firm performance than larger boards. In order to so, we segregated entire sample companies between two parts, one those having board size less than equal to median board size ( of entire sample) 10 and other having more than 10. The results (table III), however, reject our second hypothesis as coefficient of board size (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²1) is greater for smaller boards (-0.148) than larger board (-0.012). This may be interpretated as ideal board size is above the median board size of 10, and smaller boards may not have enough expertise and resources to enhance firm performance. Also it can be observed that due to high ownership rights and say in smaller boards, promoters are able play value maximizing role. Hypothesis 3 predicted a less negative relationship of board size with firm value for the large companies than small companies. Sm all companies and large companies here are classified based on the median assets of Rs 5922.1 Crore. The model supports our hypothesis as coefficient of board size for large companies (-0.023) is more than that of small companies (-0.063). The results, however, are not significant at any level. Further, in small companies promoter ownership is positively correlated to firm performance at 10 percent significance level. Table VI TobinQ- Model Board Size Dependent Variable Smaller Board Larger Board Small Companies Large Companies Independent variables coeff t coeff t coeff t coeff t (Constant) 4.826 2.93* 2.819 2.70* 12.113 5.17* 3.082 2.14** BSize -0.148 -1.54*** -0.012 -0.23 -0.063 -1.29 -0.023 -0.59 PrOwn 0.025 2.81* 0.001 0.27 0.020 2.58** 0.003 0.58 LAge 0.389 1.98** -0.045 -0.31 0.358 2.00** 0.076 0.47 LSize -0.525 -3.28* -0.083 -0.87 -1.514 -5.16* -0.160 -1.03 Lev -0.005 -0.70 -0.018 -3.17* -0.002 -0.24 -0.012 -2.10** SGrowth 0.004 0.84 0.000 -0.09 0.000 -0.05 0.000 0.00 R 0.515 0.408 0.622 0.324 R square 0.265 0.166 0.387 0.105 Adjusted R square 0.213 0.101 0.342 0.038 F change 5.108* 2.563** 8.52* 1.579 * significant at 1 percent, ** significant at 5 percent, *** significant at 15 percent Table VII TobinQ -Model Promoter Ownership Prom Ownership 0-40 40.1-65 65.1-100 Independent variables coeff t coeff t coeff t (Constant) 0.924 0.791 2.691 1.366 3.798 1.868*** BSize 0.023 0.492 -0.017 -0.345 -0.044 -0.644 PrOwn -0.013 -1.135 0.028 1.295 0.031 1.361 LAge -0.028 -0.168 0.311 1.630*** -0.038 -0.095 LSize 0.074 0.540 -0.372 -2.583** -0.400 -2.188** Lev -0.010 -1.700*** -0.016 -2.168** -0.008 -0.721 SGrowth 0.000 -0.486 0.006 1.467 -0.005 -0.855 R 0.386 0.496 0.462 R square 0.149 0.24 0.213 Adjusted R square 0.007 0.181 0.101 F change 1.05 4.069* 1.9 * significant at 1 percent, ** significant at 5 percent, ***significant at 10 percent Higher promoter ownership leading to greater promoter control on the company was predicated in Hypothesis 5. To test this hypothesis, entire sample is classified into three groups, companies having promoter ownership less than equal to 40 percent, between 40 to 65 percent and above 65 to 100 percent. The results are presented in table VII that support our hypothesis 5. For companies having promoter ownership below 40 percent coefficient (ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²2) is negative (-0.013). This may suggest that on lower levels of ownership control, promoters interest may not fully align with company. The companies having promoter ownership above 40, correlation was positively with firm performance with coefficient being greater for companies having more ownership control. This suggests that above certain ownership control on firm, promoter are able to drive the performance of comp any. CONCLUSIONS The study explores the relationship of board size and promoter ownership on the firm value for a sample of firms listed on Bombay Stock Exchange of India. Some results of the study are quite revealing in contrast to earlier Indian studies. As opposed to previous Indian studies, our results indicate a negative relationship between board size and firm value. This augments the previous international researches and establishes belief that board size is negatively associated firm performance. We also find significant difference between board size of small and large companies of our sample. The relationship between board size and firm value is less negative large companies than smaller ones. We find a significant positive association of promoter ownership with firm performance. The regression results suggest that firms with high ownership concentration of promoters have high market valuations (TobinQ). The findings show that below ownership control of 40 percent, the entrenchment effect is more pronounced and negative relationship exists. We may conclude that due to financial distress on Indian firms due to global financial crisis, larger boards may not able to strategic decision due to problem of coordination and communication resulting in lower firm value. In similar case, higher promoter ownership gives enough incentive and control to monitor and enhance firm value. The study contributes to existing literature of corporate governance on board size and insider ownership. The outcome of research gives firm support the agency theory that high ownership has more alignment effect resulting reduced agency cost. One of the important empirical considerations taken in our study is moderating effect of firm size on the board performance. The study looks upon insider ownership particularly that of promoters on company valuations. LIMITATION AND DIRECTION FOR FUTURE RESEARCH The current research along with its contribution has some major limitations. First, we have used only a small sample of 176 firms. The entire sample was classified into different categories to analyse further effect of board size and promoter ownership on firm performance. The classification has resulted in smaller sample size and some models were not significant. Second, model uses only one performance variable for ease of analysis while variables would also be merit consideration. Thirdly, the important aspect left out in our study pertains to board composition and other ownership patterns that may also affect firm performance. The current study opens avenue for future research ideas. Our research indicates a negative association between board size and firm performance, which is in contrast previous studies. This may be due fact that period of study is year 08-09 during which global financial crisis was persisting and Indian firms were under financial strain. Therefore, we fir mly believe multidimensional approach for performance measurement with large sample size would be appropriate for future research. Investigating effect of other corporate governance variables like board structure and ownership structures on firm performance during period of our study would also provide new insights. Lastly, the qualitative analysis using primary data can give better insights and support our research.