Multiracial Identity in Essays by Julia Alvarez and Danzy...

Multiracial Identity in Essays by Julia Alvarez and Danzy Senna The essays of Julia Alvarez and Danzy Senna address issues of multiracial identity important in their younger years as they grew up daughters of a multiethnic and multiracial background. Despite the slight generational differences, the same issues are as important today as they were twenty or thirty years ago. The concept of one being multiracial is a relatively new concept. In the past, a person with a mixed racial background could not reasonably claim a mixed heritage openly, one had to identify with one or the either. Those that could not do that usually found themselves isolated from either background. This is made apparent in American literature through†¦show more content†¦Yet, this new embracement of multicultural is due more to commercial manipulation rather than an increasing acceptance of the evolving racial equation. One example is the popularity of Latin music. In the last past two years, the popularity of Latin music has exploded and along with it, the c areers of people like Ricky Martin, Christina Aguilera, and Enrique Inglesias. Some of these people claim a mixed racial heritage and accordingly, it seems apparent that a more tolerant and even accepting time in history has come for those of a mixed heritage. Indeed, many entertainers now come to fame based in part on having a mixed racial heritage. However, Latin music has been around for many years and its emergence in the mainstream is unlikely to be due to a more liberal attitude towards multicultural, multiethnic themes. The recent, newly found popularity demonstrates more of a realization that companies can exploit multiracialism for a profit. Commercialism exploits and co-opts the theme of multiculturalism in the name of profit. It glamorizes people who reveal their multicultural or multiracial background and makes them look exotic. However, it is imperative to understand, that these motives are not high-minded. It is simply for profit and record sales, that corpora tions have encouraged outlets for multicultural and multiracial diversity. Senna notes in her

Sexism And Its Impact On Society - 1046 Words

Since the beginning of history , sexism has formed a barrier between the sexes. Sexism has always been a major issue for women specially.The belief that a woman is inferior to man has always been the most common in all history. Although we’ve come a long way in the getting rid of sexist views , even in today’s modern society , sexism prevails. In Mythology, Romans thought women were â€Å" secondary to men,† who brought upon â€Å"unhappiness and vices† like in the tale of Pandora.(Mark4) The Roman family was â€Å"male-dominated† meaning most decisions were carried out by â€Å"most senior male figure â€Å" (Mark 4) Women were expected to play their â€Å" perceived role in society† - such as â€Å"..looking out after the home and nurture a family† (Mark 4). Every aspect of a roman was very controlled due to the belief that they hadâ€Å" weak judgement†(Mark 4) Double standards were even present during this time. Roman mal es expected their women to be â€Å"honourable and chaste† while â€Å" they were more than willing to enjoy themselves the services of lovers and prostitutes.†(Mark) Roman law even dictated that prostitutes and waitress couldn’t prosecute for rape and rape of slaves was considered â€Å"property damage†.(Mark 4) During the Victorian period â€Å"men and women’s role became more sharply defined that any time in history.†(Hughes 5)The Victorian era focused very much on what was considered feminine and masculine. Women were thought of as â€Å"physically weaker yet morallyShow MoreRelatedSocial Construction Of Race And Gender1529 Words   |  7 PagesSocial Construction of Race and Gender, Patriarchy and Prejudice and Discrimination in the Society Social construct may be defined as the social mechanism or a category which has been created by the society. It may either be a perception which is created by an individual or an idea which is constructed as a result of the culture. The present society has created a large number of constructs which are not good. In this paper, the discussion will be done on the social construction of raceRead MoreSexism Within Advertising : A New Era Of Social Justice1397 Words   |  6 PagesSexism within Advertisements As a whole, this society has greatly improved, with new cures to old diseases, more efficient ways to complete daily tasks, and new technology with information at our fingertips. Along with these newfound practices, humanity has also given rise to a new era of social justice. Humans everywhere are working everyday to ensure everyone is treated with equality and respect. Nevertheless, humanity still has a long way to go. The mission will not be complete until there isRead MoreThe Burden Of Benevolent Sexism Essay1006 Words   |  5 Pagesdecided to conduct my research on is titled The Burden of Benevolent Sexism: How it contributes to the maintenance of gender inequalities. The article is written and researched by Manuela Barreto and Naomi Ellemers from Leiden University in the Netherlands. The article examines benevolent sexism and how it contributes to the continuation of gender inequalities. It discusses the idea how we are less likely to challenge benevolent sexism due to the fact that we do not see it as a prejudice view or asRead MoreIs Sexism Still a Force in Our Culture?1212 Words   |  5 PagesIs Sexism Still a Force in Our Culture? Sexism against women has been prevalent for hundreds of years, despite the fact that there is nothing inherently sexist about human existence, or that of other animals. In fact, there exist a number of animal species that are not sexist, and the sustained prevalence of sexism among humans is a topic that necessitates investigation. This paper examines sexism as it relates to contemporary culture, with particular emphasis paid to whether women have overcomeRead MoreThe Theories Of Laura Mulvey And Bell Hooks888 Words   |  4 Pageshave to focus on societal practices of racism and sexism. The article â€Å"Visual Pleasure and Narrative Cinema† critiqued by Mulvey, focused on how sexism and voyeurism were the main theme in terms of how males dominated society and how woman were subservient to males due to castration. In the article â€Å"In Black Looks: Race and Representation† Chapter 7, The Oppositional Gaze, Hooks mainly focused on black woman’s identity an d touches on both sexism and male/white female dominance over them. BothRead MoreStereotypes : Sexism And Discrimination701 Words   |  3 Pagesgoing to be some stereotypes that are false, but you shouldn’t try to change yourself to fit that statement. Sexism and discrimination can come from stereotypes, but they are not true because we are unique in many ways and we can be defined by one label. Stereotypes can be defined as an explained image that creates a meaning for different groups of society, and they impact our society in numerous ways (Stereotype). For example, in an interview with Guy Raz from NPR, Jamila Lyiscott says thatRead MoreLooking For A Peer Review1352 Words   |  6 Pagesstudy that I could relate to. There are a lot of things that we grow up around and don t really notice the impact that happens around us. I am a science major in college so I have been doing experiments a long time. After reading this study I was very intrigued about how they conducted and executed their experiment in this study. I the article I read was â€Å" An Avenue for Challenging Sexism: Examining the High School Sociology Classroom.† This article was very interesting to me. I went to a smallRead MoreThe Positive and Negative Aspects of Video Games in Society968 Words   |  4 PagesIn our modern society, we rely on varieties of entertainment in order to satisfy our need for enjoyment. One type of entertainment, which is currently becoming more prominent in our culture is video games. As it is becoming more prominent, it is also evolving throughout the years. Video games now are becoming more complex and influential in our society. People can use this type of entertainment was a way to relieve stress or a way to socialize with others online. Video games is almost available everywhereRead MoreSexism in The Work Place Essay1286 Words   |  6 PagesIntroduction Sexism is the ideology that maintains that one sex is inherently inferior to the other. Sexism or discrimination based on gender has been a social issue for many years; it is the ideology that one sex is superior or inferior to the other. Sexism does not only affect females, but also males. Men are very often victimized by social stereotypes and norms based on gender expectations. Sexism has appears in almost all social institutions including family, the media, religion, sports, theRead MoreSusan Glaspell s A Jury Of Her Peers1408 Words   |  6 Pagesthis time period, sexism was a widely spread concept. Glaspell was a strong willed advocate of women’s rights, and promoted feminism throughout her life, oftentimes featuring this concept in her many works. Glaspell’s literature provides a glimpse into the psychological differences between men and women, as well as their division among social roles. Despite the prevalence of sexism during this time period, Glaspell also emphasizes the importance of the roles of women in this society, and their commitment

Women s Movement Escape As A Post Feminism - 940 Words

In â€Å"Women’s Movement: Escape as Transgression in North American Feminist Fiction,† Heidi Macpherson explores the grounds behind female escape in feminist theory and argues that there is no clear escape from society. Although there are multiple means of escaping, one cannot fully escape from society and one is usually forced back into society. With this idea in mind, she critically explores the limitless and boundless abilities of female escape works in North America by providing her readers with a sense of how feminism, and the ways in which one considers escape, have changed from the 1970s and so forth. She also includes other theorist’s ideas to complement her work on how the feminist escape narratives demonstrate how feminists rewrite and rework their endings into a post feminism narrative. Macpherson achieves the purpose of feminist escape narrative exploration through â€Å"Women’s Movement† by giving an eye-opening analysis of how the act ion of escaping is challenging and problematic, but it can be â€Å"a significant and often positive response to the domestic sphere† (22). Macpherson ironically begins her literary analysis of feminist theory with a passage from Jack Hodgin’s â€Å"The Crossing,† which was a male written short story with a female protagonist who considers escape as â€Å"the impetus for a story† (1). This passage helps create Macpherson’s analysis of how to â€Å"locate the feminist impulses behind North American escape narratives† in order to â€Å"dismantle and refigure theShow MoreRelatedMad Max Road Warrior And Warrior Road Analysis1121 Words   |  5 Pages displaying a change in social and political context, specifically with the concept of feminism. This is due to the changes of media content as society has progressed. The 1980’s was a time for womens liberation, to a large extent there was a change in the areas of, health, work, law, education and welfare, redressing the issues of equality in Australia. Planned parenthood was put into place, allowing women across the nation to decide whether they want to have children or not. More career pathsRead MoreEssay on Women in Afghanistan1708 Words   |  7 PagesWomen in Afghanistan Brief Outline of Afghanistan History: 1910’s-1920’s : Reform movements in Afghanistan 1933-1973 : Some reform, country remains fairly static 1978-1992 : Democratic Republic of Afghanistan 1979-1989 : Soviet Intervention 1992-1996: Islamist Mujanidin 1996-2001 : Taliban 2001-Present : U.S. Occupation, new government The reason I chose to study Islamic Feminism and Afghanistan, is that for many people, these words do not belong in the same sentence. AfghanistanRead MoreFeminism : A Patriarchal Society2654 Words   |  11 PagesAccording to Webster dictionary, feminism is defined as â€Å"the belief that men and women should have equal rights and opportunities.† When people today hear the word feminism, they tend to think of women who disdain men and want to overthrow their power within a country. On the contrary though, women are mostly equalitarian in which they want to work against the power structures and have equal rights or gender equality within a society like most men have. Most women are forced to live within a patriarchalRead MoreThe Yellow Wallpaper By Charlotte Perkins Gilman764 Words   |  4 PagesWallpaper†), and nonfiction books challenged the dominant ideas about women’s role in society and helped shape the movement for women’s suffrage and womenâ₠¬â„¢s rights. (Dreier, 2016)† The theme and symbols not only illustrate how the roles of men and women are portrayed unequal to one another, but also the transition to insanity that comes from enforced suppression. The state of ignorance placed on women is shown throughout the story by the obstacles, reactions, and mental state. The narrator deals with a deepRead MoreThe Awakening By Kate Chopin Essay2612 Words   |  11 PagesFeminism can be defined as the belief that women and men should have equal rights. This is an incredibly simple premise in theory; however, as soon as one starts to unpack exactly what it would take for equality of the sexes many other inter-related issues arise. One of the main issues is that there are many different types of oppression including, but not limited to, gender, race, sexuality, sexual orientation, ethnicity and socio-economic background. All of these factors and more must be takenRead MoreWomen in World War Ii2579 Words   |  11 PagesHistory 103 Sec 002 Fall Term Research Paper In what specific ways did the Second World War change the lives of women in Canada and/or the United States? Were the changes merely temporary or did they sow the seeds of collapse for traditional gender roles? * * The Second World War dramatically changed the lives of women in both Canada and the United States, on every level from political, to social, to sexual. Further, the changes in women’s lives during this time were not merely temporaryRead MoreThe Liberation of Paris Essay example2220 Words   |  9 Pagesresponsible for the sparking of women’s suffrage in France and as a consequence, led to French women gaining the right to vote in 1944. There is ample evidence that the role women played in the Resistance had a significant impact and this consequently helped to secure their right to vote. It is a great shame that today the vast majority of the French population know little about the surprisingly large role women had to play. I believe that although subtle, their involvement in underground operations wasRead MoreFeminism : The Yellow Wallpaper1861 Words   |  8 PagesFeminism in â€Å"The Yellow Wallpaper† While reading one can study the societal and feminist aspects of â€Å"The Yellow Wallpaper† and how they have helped change our society in ways like informing people about post-partum depression and its serious outcomes if not treated properly. While reading another thing to aspect to understand is what was happening in the world at the time Charlotte Perkins Gilman published this story that made it so well known. â€Å"The Yellow Wallpaper† is known as a feminist storyRead MoreEvaluate Postmodernist Explanations of the Role and Functions of Religion in Contemporary Society.1606 Words   |  7 Pagesreligion emphasises the key point that religious truth is highly individualistic, subjective and resides within the individual. Science technology and efficiency would overcome many social problems. The collapse of the ‘grand-narrative’ is part of post-modernism as it is a belief system that claims universal authority, religion; science and philosophies are examples of these. They have a superior status over other belief systems and also claimed they could explain the causes of society’s problemsRead MoreEmerging From The Restrictive Culture Of The 1950 S Essay1765 Words   |  8 Pagesculture of the 1950’s, the counterculture of the 1960s challenged the prescribed norms, roles and expectations of the previous generations that outcasted youth found restrictive and alienating. Baby Boomers retained the abstract goals of mainstream society; they sought individual freedom and opportunities for self-determination. But their vision of the American dream widened the traditional definitions of freedom to include bodily, psychological, and political freedoms. 60’s counterculture disagreed

High Noon Analysis - 938 Words

Honor, abstract in definition, is elucidated by communities and its individuals. It is a changing force, that can be approached from many different perspectives and has been interpreted countless ways. Honor used to be interpreted as a code that members of a community would follow in order to be recognized with esteem and respect. Over time, honor has been determined by the individual, regardless of other interpretations. An individual would build their honor manifesto on the values they deem necessary to live an honorable life, honorable according to their definition. In The Crucible, by Arthur Miller, John Proctor prioritizes love. Will Kane, from the film â€Å"High Noon†, directed by Fred Zinnemann, values responsibility. John Proctor and†¦show more content†¦He was the one that originally arrested and agitated Miller, therefore, he felt it was his responsibility to address the consequences. After he had killed Miller and the additional accomplices, thus completin g his personal mission, he was able to throw away the tin star and leave everything behind. That tin star symbolizes his job and the town, and by throwing it away, he demonstrates that he no longer cares or feels the need to stay. This display shows that the town, nor its inhabitants, were his source of motivation. He may have acted selflessly, but he did so for his own personal need of fulfilling his duty. Both characters developed a personal definition of honor, and both characters were rejected by their communities as result of living in accordance with their manifesto. The communities of Salem and Hadleyville, each community belonging to a unique time period and environment, has their own code of honor. However, both communities overlap in their need for self-preservation and greediness. In Salem’s case, when the witch trials erupted, many people, supposedly Mr. Putnam being one of them, and Abigail another took this as a chance to gain power and prey on those they hated. In fact, the overall community took it as a chance to spread hate and distrust. It was at this time, the community lackedShow MoreRelatedCritical Analysis of Film785 Words   |  4 PagesGive a critical analysis of the Western Holly Wood film High Noon. This essay will focus on the current representation of women and men in the classical Holly Wood western film High Noon, focusing on the gender roles of each character and the stereotypical roles that are given. High Noon  is a 1952 Western film  directed by  Fred Zinnemann, one which broke genre rules of masculine ideals and popular themes of cowboys and indians (Johans;1994). The male protagonist Marshal  Kane (Gary Cooper  ) startsRead MoreJ. Galsworthy. the Broken Boot1005 Words   |  5 PagesA Sample of Complex Stylistic Analysis J. Galsworthy. The Broken Boot (E.M. Zeltin et. Al. English Graduation Course, 1972, pp.88-89: finishing with the words .. .walked side by side.) Text Interpretation The passage under analysis is taken from John Galsworthys story The Broken Boot. It is about an actor whose name is Gilbert Caister. For six months he had been without a job and a proper meal. He ran into a man whom he had come to know in a convalescent camp, a man who thought aRead MoreJ. Galsworthy. the Broken Boot1021 Words   |  5 PagesA Sample of Complex Stylistic Analysis J. Galsworthy. The Broken Boot (E.M. Zeltin et. Al. English Graduation Course, 1972, pp.88-89: finishing with the words .. .walked side by side.) Text Interpretation The passage under analysis is taken from John Galsworthys story The Broken Boot. It is about an actor whose name is Gilbert Caister. For six months he had been without a job and a proper meal. He ran into a man whom he had come to know in a convalescent camp, a man who thought a lot ofRead MoreIndividual Report (50%)806 Words   |  4 Pagesmain features of the marketing plan. The new market that you recommend is your choice but it must not be one where the Company is already present. The report should be 3000 words max and the hand in date is 13th March 2013 via Blackboard before 12 noon. Your recommendation needs to contain the following: 1 Reasons for selection of new market for entry by the Company 2. Alternative markets which were candidates and reasons not selected 3 Proposed market entry strategy, including rationale Read MoreA Brief Note On Industrial And Organizational Psychology1819 Words   |  8 Pagesinsights on increasing productivity in the workplace and related matters such as physical and mental wellbeing of employees (Youssef Noon, 2012, sec.1.1). Industrial organizational psychology is known to be the most important asset in the organization, in which the factors are many; influence, performance, creation, strategies, innovation, and superiority (Youssef Noon, 2012, sec.1.1). These levels perform a wide variety of tasks in industrial/organization psychology involving studying worker attitudesRead MoreEssay On Eta1356 Words   |  6 Pagestake a wider Determination of dry and wet edges in the LST– NDVI scatter is necessary, to estimate pixel by pixel ET and EF using Eqs. (4) and (5). In arid and semi-arid areas, it should be noted that, for given vegetation cover, spatial pixels with high surface temperature and low EF are detectable by satellite remote sensors. On the other hand, the saturated soil water which evaporates potentially pixels is rarely and hardly existed in these conditions (see red lined triangle inside Fig. 2). ObtainingRead MoreJob Description Essay755 Words   |  4 PagesDescription RFR No. HRMT 70002 Job Position (Specialist Type): On-line/Cloud Project Coordinator Quantity: 1 Estimated Start Date: Immediately Employment Type: Full Time Reports to: Raja Ramanathan Issue Date: November 14 2017 Closing Deadline: 12:00 noon (local Toronto time) November 30th, 2017 1.0 Summary Coordinate activities related Technical Business SMEs in the development and implementation of SharePoint Office365 with MS Azure in the Cloud Project: - Assist in a Pilot to determine feasibilityRead MoreEmpirical Relationship between the Price of Gold and Three Other Variables1221 Words   |  5 Pagescharacteristics. It’s popularly used to decorate luxurious jewelries. With the improving standard of living and increasing income, people consume demand more and more gold. Because its unique physical properties of gold, it’s also widely used in modern high-tech industries such as electronics, telecommunications, aerospace, chemical and so forth. In the history, gold has been used as measure of value, means of circulation, means of payment and even world currency where major currencies were tied toRead MoreEssay about Analysis of German Film Run Lola Run906 Words   |  4 PagesAnalysis of German Film Run Lola Run Run Lola Run, is a German film about a twenty-something woman (Lola) who has 20 minutes to find $100,000 or her love (Manni) will be killed. The search for the money is played through once with a fatal ending and one would think the movie was over but then it is shown again as if it had happened ten seconds later and changed everything. It is then played out one last time. After the first and second sequence, there is a red hued, narrative bridgeRead MoreEquity and Discrimination at Big Red Kangaroo Airlines1389 Words   |  5 Pagescomplex and dynamic industry, characterized by numerous elements. For instance, the airline industry is now, unlike its inception period, populated by privately owned companies, rather than state owned enterprises. Then, the airline sector is marked by high levels of financial resource consumption, employment concerns or pollution complaints. As a result of the 9/11 terrorist attacks, the airline industry was faced with a decreasing demand, leading to numerous bankruptcies in the sector. Additionally

Long Term Financing Paper Final Free Essays

string(38) " pay dividends to their stockholders\." Running head: Long-Term Financing Long-Term Financing University of Phoenix Online Introduction to Finance and Accounting MMPBL-503 James R. Sullivan November 3, 2008 Long-Term Financing An established company is considering expanding its operations, and to achieve their business objectives, the company will require additional long-term capital financing. Long-term financing involves debt or equity instruments with greater than one-year maturities, and the cost of this long-term capital can be calculated using either the Capital Asset Pricing (CAPM) or Discounted Cash Flows (DCFM) Model. We will write a custom essay sample on Long Term Financing Paper Final or any similar topic only for you Order Now The organization will have to compare and contrast the Capital Asset Pricing Model with the Discounted Cash Flows Model. The skill of comparing and contrasting financial options will help evaluate and organize the debt/equity mix and dividend policy. The organization must then decide what type of long-term finance alternatives will most likely benefit. Capital Asset Pricing Model and the Discounted Cash Flows Model Capital Asset Pricing Model is a linear relationship between returns on individual stocks and stock market returns over time (Block Hirt, 2005). One use of CAPM is to analyze the performance of mutual funds and other portfolios (CAPM, 2008). Although, more than one formula exists for the CAPM, the most common is referred to as the market risk premium model presented below (Block Hirt, 2005): r = Rf + beta (Km – Rf) Where: r is the expected return rate on a security Rf = the risk free rate of return (cash) B = beta coefficient, or historical volatility of common stock relative to market index Km = is the return rate of the appropriate asset class The market risk premium formula assumes that the rate of return or premium demanded by investors is directly proportional to the perceived risk associated with the common stock. Beta measures the volatility of the security relative to the asset class. The equation is saying that investors require higher levels of expected returns to compensate them for higher expected risk. This formula can be thought as predicting a security’s behavior as a function of beta: CAPM says that if a person knows a security’s beta then they know the value of (r) that investors expect it to have (see graph below) (CAPM, 2008). [pic] More volatile stocks will have a beta coefficient greater than 1. 0, whereas less volatile stocks will have a beta less than 1. 0. If the risk free rate of return (Rf) and average market return (Km) are considered fixed, then the required rate of return for company stock can be calculated for the required rate of return. As an example, if the market risk premium (Km – Rf) is 6% and a risk free rate of return (Rf) is 4%, then the required rate of return would equal 10% for B = 1 and 16% for B = 2. The Discounted Cash Flow Model (DCFM) is another standard way of determining the cost of equity. It assumes that a firm’s current stock price is equal to the present (discounted) value of all expected future dividends from the investment (Utility Regulation, 2008). Modern financial theory contends that the price of a firm’s stock is the present value of the future cash flows discounted at an appropriate interest rate (Freeman Gagne, 1992). To calculate the current stock value, calculate the present value of future dividends and growth in the value of the stock at some future date. The discount rate used for this present value calculation is the weighted average cost of capital for the firm. Both the CAPM and DCF models involve applying data from a single or group of companies, to evaluate the current stock value of a single company. CAPM is more objective and complicated, and requires more calculation and data from the market. DCF is more subjective and simplified. One such DCF assumption is that future dividends will grow forever at a constant rate. Since this assumption is not always true, the DCF method gives a more qualitative estimate of the cost of capital. Limitations of CAPM includes, model uncertainty, it is difficult to know for sure if the use of the model is theoretically correct. Input uncertainty, is another limitation, it is difficult to estimate the appropriate risk premiums accurately (CAPM limitations, 2008). Limitations of the DCF model include miss growth options, options to expand and options to redirect (DCFM, 2008). Debt/Equity Mix Debt/equity mix is a financing strategy used by companies to help fund the business or other investments. Most companies use a combination of both in order to ensure stability and to keep long-term cost down. Debt is the borrowing of money from other lenders such as finance companies and banks. â€Å"Corporate debt has increased dramatically in the last three decades. † (Block Hirt, pg. 468) Other forms of debt include issuing bonds and leasing. Debt has become a common item on balance sheet for many companies, including those just starting out. Debt financing allows companies to finance without having to sell stock or bring in more partners. The major benefit for debt financing, unlike with equity financing, the owner retains full ownership of their business. Bringing in more partners or stockholders in a company causes the loss of primary ownership and possibly the loss of the reason the company was created. Equity is another form of financing. Equity is also used by large and small companies. Equity is financed by other people. With equity financing the initial owner/borrower has a greater risk of losing their company to the partners that have become involved. On the other hand the borrower in an equity finance loan has flexibility on repayment terms and the form of repayment (ie. cash, stock, bonds or services). However, most major corporations have a mixture of debt and equity with making sure they do not have to much leverage in either one. The formula for figuring out what a company’s debt-equity ratio is: (Block Hirt) Debt/Equity Ratio = Total Liabilities Shareholders’ Equity Dividend Policy A company’s dividend policy is up to the company and the profits that are made. If the company is just starting out they may not want to pay dividends to their stockholders. You read "Long Term Financing Paper Final" in category "Essay examples" A beginning company may want to reinvest any earnings that are made in order to help the company expand. â€Å"In choosing either to pay a dividend to stockholders or to reinvest the funds in the company, management’s first consideration is whether the firm will be able to earn a higher return for the stockholders† (Block Hirt, pg. 547). When deciding on a dividend policy the stockholders preference must be considered. The stockholder may or may not want to receive dividends and may only have concern with the value of their investment at relinquishment time. If expanding a business the dividends that are normally sent out will possibly be lower to help cover the cost of expanding. The expansion may also cause the dividends to increase. Some investors care about he future earnings and the increase that may occur because of the expansion and earnings increase. Characteristics and Costs of Debt and Equity Instruments The purchasers of equity instruments have the rights to vote on issues, gain ownership and future earnings of the business. Examples of equity instruments are common stock, preferred stock and retained earnings. Ask Dr Econ, 2008) Common stock is a form of equity instruments, advantages are the common stockholders will share in the company’s profitability, does not have to repay investment, dividends, and the votes can influence management. The disadvantages of common stock, the vote may dilute the management’s interest in the corporation’s growth, and the non-management stockholders can increase in the vot ing power, and the maximum risk falls on the investor. (Raymond, 2002) The cost of common equity is important as â€Å"the ultimate ownership of the firm resides in common stock† (Block Hirt, 2005). The cost of issuing new common stock is expressed as: Kn = D1 / (Po – F) + g D1 = First year common dividend, Po = Price of common stock, F = Flotation selling costs, g = Constant growth rate in earnings (Block Hirt, 2005) Preferred stock is another form of equity instruments, advantages are stocks offers stipulated dividend on an annual or semi-annual basis, preference rights over common stock and dividend payments and liquidating distributions. The dividends can accrue at a certain rate and paid on a cumulative basis. The disadvantage â€Å"includes a subordination of dividends to be paid on common stock and limitations on the use of corporate fund to the extent that pre-established dividend payments. † (Raymond, 2002) The cost of issuing new preferred stock is: Kp = Dp ( Pp – F) Where Dp = Preferred dividend, Pp = price of preferred stock, and F = Flotation selling costs. (Block Hirt, 2005) Retained earnings are equivalent to â€Å"past and present earnings of the firm minus previously distributed dividends† (Block Hirt, 2005). In order to convince shareholders that earnings will equal larger dividends and equity later, it is important to calculate the present value of projected future cash flow. The equation for cost of retained earnings is equivalent to the cost of existing common stock Ke = D1 / Po + g This can be used to reacquire outstanding treasury stock at market price. The cost of retained earnings does not include the flotation or sales cost associated with new issues of common or preferred stock. (Block Hirt, 2005) Debt instruments are requires a fixed payment with interest, examples are bonds, government or corporation and mortgages. Ask Dr Econ, 2008) Bondholders do not gain ownership, paid before other expenses, less risky and not entitle to future profits in the business. (Raymond, 2002). Disadvantages include potential restrictions on operations, limitations on the use of working capital† (Raymond, 2002). Bond financing includes the zero-coupon rate bond and the floating rate bond. Th e cost of debt is measured by the after-tax cost of debt and must be calculated as follows: Kd = Yield (1 – t) where Yield = yield to maturity and t = tax rate The yield to maturity of a bond is dependent on a number of variables: annual interest payment, principal payment, bond price and years to maturity. The yield to maturity for a bond can be calculated using a bond table, or using the equation below: Y’ = annual interest payment + (principal payment – bond price) / years to maturity) (Block Hirt, 2005) Evaluation of Long-Term Financing Alternatives Organizations have several opportunities for  alternative long-term financing to help the organization expand and grow, raise capital depleted by inflation and to supplement insufficient funds generated internally by the organization. Debts for organizations have risen over the past three decades. Organizations are faced with the task of continuing to raise capital to cover the organization’s debts. Organizations can use bonds, stocks, leasing and other options as options for long-term financing Bonds Most large organizations use corporate bonds for long-term financing. â€Å"The bond agreement specifies such basic items as the par value, the coupon rate, and the maturity date† (Block Hirt, 2005). The initial value of a bond is the bond’s par value or face value. The interest rate on the bond is the coupon rate. The fluctuation of interest rates in the market affect the coupon rate of the bond after the bond has been issued. The ending date in which repayment of the principal of the bond is due is the maturity date. The bond agreement or indenture is the legal document that covers the bond from issuance to repayment. Organizations can put up a secured bond offering such as a mortgage agreement, where specific assets are promised to bondholders should they default on the bond or choose an unsecured, or debenture bond offering which doesn’t specify a specific asset. Stocks Common stock is on way an organization can secure long-term equity financing. Common stock is issued at a price per share to relatives, friends and investors. The funds are used by the organization to help the organization grow. The organization can issued to stockholders as dividends to show a payback on the capital investment. The remaining funds after the organization pays out dividends become retained earnings for the organization and are reinvested back into the organization. Individuals who have ownership in the organization can hold preferred stock. Preferred stock holders are repaid first should the organization file for bankruptcy. Leasing Organizations can lease assets instead of financing them. Leasing can give an organization that is short on funds or is not credit worthy enough to borrow funds a way to obtain assets. Leasing an asset is generally more expensive than purchasing the asset. By leasing assets, the organization reduces cash outflow so they can use those funds for other ventures. Organizations can lease assets such as furniture, equipment and land. The organization can choose a Capital Lease agreement where the organization purchases the asset at the end of the lease period. Organizations in a higher tax bracket can take advantage of a depreciation write-off tax advantage by purchasing an asset and leasing the asset to another organization in a lower tax bracket. Other Alternatives Organizations can use Factoring to borrow capital. The factor generally charges higher interest rates than banks. Factors generally review credit history, but the organization may still be able to borrow due to the quality of the organization’s collateral rather than their project projections. Conclusion Expanding a company can be a big step and many plans must be laid out and consider before the final decision can be made. Cost is the biggest factor that must be considered when expanding. The second factor to consider is who or how the cost is going to be covered. Most companies consider there finance options. Financing option that should be considered include taking on more debt, issuing bonds, and selling stock. With these options the interest rate, the selling price of the stock and how much of the company they would like to give up all must be considered when choosing an option. The better option would be to do a mix of all of the financing options to keep the balance sheet leveled, and the company in good financial standing. References Ask Dr Econ. (2008) † Federal Reserve Bank of San Francisco:What are the differences between debt and equity markets? † Retrieved October 31, 2008 from http://www. frbsf. org/education/activities/drecon/answerxml. cfm? selectedurl=/2005/0510. html Block, S. B. , Hirt, G. A. , (2005). Foundations of Financial Management (11th ed. ). New York: McGraw-Hill. Capital Asset Pricing Model, (2008). Retrieved October 31, 2008, from http://www. moneychimp. com/glossary/capm/htm. Capital Asset Pricing Model How to cite Long Term Financing Paper Final, Essay examples

Long Term Financing Paper Final Free Essays

string(38) " pay dividends to their stockholders\." Running head: Long-Term Financing Long-Term Financing University of Phoenix Online Introduction to Finance and Accounting MMPBL-503 James R. Sullivan November 3, 2008 Long-Term Financing An established company is considering expanding its operations, and to achieve their business objectives, the company will require additional long-term capital financing. Long-term financing involves debt or equity instruments with greater than one-year maturities, and the cost of this long-term capital can be calculated using either the Capital Asset Pricing (CAPM) or Discounted Cash Flows (DCFM) Model. We will write a custom essay sample on Long Term Financing Paper Final or any similar topic only for you Order Now The organization will have to compare and contrast the Capital Asset Pricing Model with the Discounted Cash Flows Model. The skill of comparing and contrasting financial options will help evaluate and organize the debt/equity mix and dividend policy. The organization must then decide what type of long-term finance alternatives will most likely benefit. Capital Asset Pricing Model and the Discounted Cash Flows Model Capital Asset Pricing Model is a linear relationship between returns on individual stocks and stock market returns over time (Block Hirt, 2005). One use of CAPM is to analyze the performance of mutual funds and other portfolios (CAPM, 2008). Although, more than one formula exists for the CAPM, the most common is referred to as the market risk premium model presented below (Block Hirt, 2005): r = Rf + beta (Km – Rf) Where: r is the expected return rate on a security Rf = the risk free rate of return (cash) B = beta coefficient, or historical volatility of common stock relative to market index Km = is the return rate of the appropriate asset class The market risk premium formula assumes that the rate of return or premium demanded by investors is directly proportional to the perceived risk associated with the common stock. Beta measures the volatility of the security relative to the asset class. The equation is saying that investors require higher levels of expected returns to compensate them for higher expected risk. This formula can be thought as predicting a security’s behavior as a function of beta: CAPM says that if a person knows a security’s beta then they know the value of (r) that investors expect it to have (see graph below) (CAPM, 2008). [pic] More volatile stocks will have a beta coefficient greater than 1. 0, whereas less volatile stocks will have a beta less than 1. 0. If the risk free rate of return (Rf) and average market return (Km) are considered fixed, then the required rate of return for company stock can be calculated for the required rate of return. As an example, if the market risk premium (Km – Rf) is 6% and a risk free rate of return (Rf) is 4%, then the required rate of return would equal 10% for B = 1 and 16% for B = 2. The Discounted Cash Flow Model (DCFM) is another standard way of determining the cost of equity. It assumes that a firm’s current stock price is equal to the present (discounted) value of all expected future dividends from the investment (Utility Regulation, 2008). Modern financial theory contends that the price of a firm’s stock is the present value of the future cash flows discounted at an appropriate interest rate (Freeman Gagne, 1992). To calculate the current stock value, calculate the present value of future dividends and growth in the value of the stock at some future date. The discount rate used for this present value calculation is the weighted average cost of capital for the firm. Both the CAPM and DCF models involve applying data from a single or group of companies, to evaluate the current stock value of a single company. CAPM is more objective and complicated, and requires more calculation and data from the market. DCF is more subjective and simplified. One such DCF assumption is that future dividends will grow forever at a constant rate. Since this assumption is not always true, the DCF method gives a more qualitative estimate of the cost of capital. Limitations of CAPM includes, model uncertainty, it is difficult to know for sure if the use of the model is theoretically correct. Input uncertainty, is another limitation, it is difficult to estimate the appropriate risk premiums accurately (CAPM limitations, 2008). Limitations of the DCF model include miss growth options, options to expand and options to redirect (DCFM, 2008). Debt/Equity Mix Debt/equity mix is a financing strategy used by companies to help fund the business or other investments. Most companies use a combination of both in order to ensure stability and to keep long-term cost down. Debt is the borrowing of money from other lenders such as finance companies and banks. â€Å"Corporate debt has increased dramatically in the last three decades. † (Block Hirt, pg. 468) Other forms of debt include issuing bonds and leasing. Debt has become a common item on balance sheet for many companies, including those just starting out. Debt financing allows companies to finance without having to sell stock or bring in more partners. The major benefit for debt financing, unlike with equity financing, the owner retains full ownership of their business. Bringing in more partners or stockholders in a company causes the loss of primary ownership and possibly the loss of the reason the company was created. Equity is another form of financing. Equity is also used by large and small companies. Equity is financed by other people. With equity financing the initial owner/borrower has a greater risk of losing their company to the partners that have become involved. On the other hand the borrower in an equity finance loan has flexibility on repayment terms and the form of repayment (ie. cash, stock, bonds or services). However, most major corporations have a mixture of debt and equity with making sure they do not have to much leverage in either one. The formula for figuring out what a company’s debt-equity ratio is: (Block Hirt) Debt/Equity Ratio = Total Liabilities Shareholders’ Equity Dividend Policy A company’s dividend policy is up to the company and the profits that are made. If the company is just starting out they may not want to pay dividends to their stockholders. You read "Long Term Financing Paper Final" in category "Essay examples" A beginning company may want to reinvest any earnings that are made in order to help the company expand. â€Å"In choosing either to pay a dividend to stockholders or to reinvest the funds in the company, management’s first consideration is whether the firm will be able to earn a higher return for the stockholders† (Block Hirt, pg. 547). When deciding on a dividend policy the stockholders preference must be considered. The stockholder may or may not want to receive dividends and may only have concern with the value of their investment at relinquishment time. If expanding a business the dividends that are normally sent out will possibly be lower to help cover the cost of expanding. The expansion may also cause the dividends to increase. Some investors care about he future earnings and the increase that may occur because of the expansion and earnings increase. Characteristics and Costs of Debt and Equity Instruments The purchasers of equity instruments have the rights to vote on issues, gain ownership and future earnings of the business. Examples of equity instruments are common stock, preferred stock and retained earnings. Ask Dr Econ, 2008) Common stock is a form of equity instruments, advantages are the common stockholders will share in the company’s profitability, does not have to repay investment, dividends, and the votes can influence management. The disadvantages of common stock, the vote may dilute the management’s interest in the corporation’s growth, and the non-management stockholders can increase in the vot ing power, and the maximum risk falls on the investor. (Raymond, 2002) The cost of common equity is important as â€Å"the ultimate ownership of the firm resides in common stock† (Block Hirt, 2005). The cost of issuing new common stock is expressed as: Kn = D1 / (Po – F) + g D1 = First year common dividend, Po = Price of common stock, F = Flotation selling costs, g = Constant growth rate in earnings (Block Hirt, 2005) Preferred stock is another form of equity instruments, advantages are stocks offers stipulated dividend on an annual or semi-annual basis, preference rights over common stock and dividend payments and liquidating distributions. The dividends can accrue at a certain rate and paid on a cumulative basis. The disadvantage â€Å"includes a subordination of dividends to be paid on common stock and limitations on the use of corporate fund to the extent that pre-established dividend payments. † (Raymond, 2002) The cost of issuing new preferred stock is: Kp = Dp ( Pp – F) Where Dp = Preferred dividend, Pp = price of preferred stock, and F = Flotation selling costs. (Block Hirt, 2005) Retained earnings are equivalent to â€Å"past and present earnings of the firm minus previously distributed dividends† (Block Hirt, 2005). In order to convince shareholders that earnings will equal larger dividends and equity later, it is important to calculate the present value of projected future cash flow. The equation for cost of retained earnings is equivalent to the cost of existing common stock Ke = D1 / Po + g This can be used to reacquire outstanding treasury stock at market price. The cost of retained earnings does not include the flotation or sales cost associated with new issues of common or preferred stock. (Block Hirt, 2005) Debt instruments are requires a fixed payment with interest, examples are bonds, government or corporation and mortgages. Ask Dr Econ, 2008) Bondholders do not gain ownership, paid before other expenses, less risky and not entitle to future profits in the business. (Raymond, 2002). Disadvantages include potential restrictions on operations, limitations on the use of working capital† (Raymond, 2002). Bond financing includes the zero-coupon rate bond and the floating rate bond. Th e cost of debt is measured by the after-tax cost of debt and must be calculated as follows: Kd = Yield (1 – t) where Yield = yield to maturity and t = tax rate The yield to maturity of a bond is dependent on a number of variables: annual interest payment, principal payment, bond price and years to maturity. The yield to maturity for a bond can be calculated using a bond table, or using the equation below: Y’ = annual interest payment + (principal payment – bond price) / years to maturity) (Block Hirt, 2005) Evaluation of Long-Term Financing Alternatives Organizations have several opportunities for  alternative long-term financing to help the organization expand and grow, raise capital depleted by inflation and to supplement insufficient funds generated internally by the organization. Debts for organizations have risen over the past three decades. Organizations are faced with the task of continuing to raise capital to cover the organization’s debts. Organizations can use bonds, stocks, leasing and other options as options for long-term financing Bonds Most large organizations use corporate bonds for long-term financing. â€Å"The bond agreement specifies such basic items as the par value, the coupon rate, and the maturity date† (Block Hirt, 2005). The initial value of a bond is the bond’s par value or face value. The interest rate on the bond is the coupon rate. The fluctuation of interest rates in the market affect the coupon rate of the bond after the bond has been issued. The ending date in which repayment of the principal of the bond is due is the maturity date. The bond agreement or indenture is the legal document that covers the bond from issuance to repayment. Organizations can put up a secured bond offering such as a mortgage agreement, where specific assets are promised to bondholders should they default on the bond or choose an unsecured, or debenture bond offering which doesn’t specify a specific asset. Stocks Common stock is on way an organization can secure long-term equity financing. Common stock is issued at a price per share to relatives, friends and investors. The funds are used by the organization to help the organization grow. The organization can issued to stockholders as dividends to show a payback on the capital investment. The remaining funds after the organization pays out dividends become retained earnings for the organization and are reinvested back into the organization. Individuals who have ownership in the organization can hold preferred stock. Preferred stock holders are repaid first should the organization file for bankruptcy. Leasing Organizations can lease assets instead of financing them. Leasing can give an organization that is short on funds or is not credit worthy enough to borrow funds a way to obtain assets. Leasing an asset is generally more expensive than purchasing the asset. By leasing assets, the organization reduces cash outflow so they can use those funds for other ventures. Organizations can lease assets such as furniture, equipment and land. The organization can choose a Capital Lease agreement where the organization purchases the asset at the end of the lease period. Organizations in a higher tax bracket can take advantage of a depreciation write-off tax advantage by purchasing an asset and leasing the asset to another organization in a lower tax bracket. Other Alternatives Organizations can use Factoring to borrow capital. The factor generally charges higher interest rates than banks. Factors generally review credit history, but the organization may still be able to borrow due to the quality of the organization’s collateral rather than their project projections. Conclusion Expanding a company can be a big step and many plans must be laid out and consider before the final decision can be made. Cost is the biggest factor that must be considered when expanding. The second factor to consider is who or how the cost is going to be covered. Most companies consider there finance options. Financing option that should be considered include taking on more debt, issuing bonds, and selling stock. With these options the interest rate, the selling price of the stock and how much of the company they would like to give up all must be considered when choosing an option. The better option would be to do a mix of all of the financing options to keep the balance sheet leveled, and the company in good financial standing. References Ask Dr Econ. (2008) † Federal Reserve Bank of San Francisco:What are the differences between debt and equity markets? † Retrieved October 31, 2008 from http://www. frbsf. org/education/activities/drecon/answerxml. cfm? selectedurl=/2005/0510. html Block, S. B. , Hirt, G. A. , (2005). Foundations of Financial Management (11th ed. ). New York: McGraw-Hill. Capital Asset Pricing Model, (2008). Retrieved October 31, 2008, from http://www. moneychimp. com/glossary/capm/htm. Capital Asset Pricing Model How to cite Long Term Financing Paper Final, Essay examples

Adoption process Essay Example For Students

Adoption process Essay Adoption: The ProcessAdoption is metamorphosing into a radical new process that is both sweeping the nation and changing it. But this process is not an easy one, there are many steps to go through. Through research it is made a lot easier. Adoption is a also a highly visible example of a social institution that has benefits from and been reshaped by both the Internet and the exponential growth of alternative lifestyles, from single to transracial to gay. It is accelerating our transformation into a more multicultural society; even as it helps redefine out understanding of family. The process includes three main steps including a type of adoption, the techniques for location a baby for adoption, arranging a successful adoption, the steps at the hospital, and lastly the legal issues in adoption.There are many types of adoption in California, more then any other in the country. The reasonable amount of time it takes to adopt a child is about a year. Independent adoption is an alternative to agency adoption and is the means by approximately 85 percent of all newborns are adopted in California. Since that is the most popular that is the type that I am going to concentrate. The reason that it is the most popular is because of four factors. The first is because the independent agency is flexible, secondly it allows the birth mother to personally meet and select adoptive parents, thirdly it allows the adoptive parents to quickly locate the birth mother rather Smith 2then waiting several years for the agency to do it for them, and lastly the child can be placed in the home of the adoptive parents immediately after birth instead of waiting in a foster home. By law the birth mother must personally place the child with the adoptive parents. That does not mean she has to do it physically it just means she must personally select them. The birth mother is permitted to release her child into the adoptive parents custody as soon as the hospital discharges the baby, usually 2-3 days old. Generally when the child is six-eight months old the adoptive parents can go to court to permanently finalize the process. A new birth certificate is prepared after the adoption is granted by the court. Independent adoption fees and costs can vary dramatically. Most adoption attorneys charge between 3,000 to 4,000. The adoption attorney is assisting the adoptive parents in quickly locating a birthmother, obtains background and health information about birth parents, examines the case for potential legal or practical difficulties, and prepares the necessary legal documents and appears in court when necessary. The techniques of finding a baby for adoption through an independent agency. First thing that needs to be done is to select and adoption attorney. Things to consider when choosing an attorney is remember like all professionals there are good ones and there are bad ones. Consider the quality of their service, depth of their knowledge, and fairness of their fees. The following groups and individuals can provide you with important insight and inside information regarding finding an attorney. The independent adoption social services offices the office is assigned to you is based upon what county Smith 3you live in, public adoption agencies but they have little relation to independent adoption, private adoption agencies which will have knowledge of local attorneys, physicians may be familiar with adoption attorneys in their community, and adoptive parent associations this is an association formed by adoptive parents which they share information about adoption. Networking is important it refers to getting the word out to make as many people aware that you are interested in adopting. .u282712a6caffc96f330b405b5ab5c24b , .u282712a6caffc96f330b405b5ab5c24b .postImageUrl , .u282712a6caffc96f330b405b5ab5c24b .centered-text-area { min-height: 80px; position: relative; } .u282712a6caffc96f330b405b5ab5c24b , .u282712a6caffc96f330b405b5ab5c24b:hover , .u282712a6caffc96f330b405b5ab5c24b:visited , .u282712a6caffc96f330b405b5ab5c24b:active { border:0!important; } .u282712a6caffc96f330b405b5ab5c24b .clearfix:after { content: ""; display: table; clear: both; } .u282712a6caffc96f330b405b5ab5c24b { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u282712a6caffc96f330b405b5ab5c24b:active , .u282712a6caffc96f330b405b5ab5c24b:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u282712a6caffc96f330b405b5ab5c24b .centered-text-area { width: 100%; position: relative ; } .u282712a6caffc96f330b405b5ab5c24b .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u282712a6caffc96f330b405b5ab5c24b .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u282712a6caffc96f330b405b5ab5c24b .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u282712a6caffc96f330b405b5ab5c24b:hover .ctaButton { background-color: #34495E!important; } .u282712a6caffc96f330b405b5ab5c24b .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u282712a6caffc96f330b405b5ab5c24b .u282712a6caffc96f330b405b5ab5c24b-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u282712a6caffc96f330b405b5ab5c24b:after { content: ""; display: block; clear: both; } READ: Stability In Satellites Essay When done correctly, it can work effectively. A photo-resume letter is a way to network to birth mothers. This should be done in no formula because you want the birth mother to know you. The letter should be about one page long, you need to include a picture, explain why you are pursuing to adopt, brief description of yourself, and another tip is to hand sign each letter. Arranging a successful adoption, finally the waiting pays off- you learn that the birth mother has expressed an interest in you and wants to meet you