English Essay Example for Free

English Essay Culture polity, traditions, language, food, costume, belief system, architecture, arts, craft, music, dance, and sports which will be discussed in this article to give you an indication of Fijis indigenous community but also the various communities which make up Fiji as a modern culture and living. The indigenous culture is an active and living part of everyday life for the majority of the population. However, it has evolved with the introduction of vibrant and old cultures including Indian, Chinese and European culture, and various cultures from the Pacific neighbors of Fiji; in particular the Tongan and Rotuman cultures. The culture of Fiji, including language, has created a unique communal and national identity. Tradition and hierarchy Fijian indigenous society is very communal, with great importance attached to the family unit, the village, and the vanua (land). [1] A hierarchy of chiefs presides over villages, clans, and tribes. Chiefly positions are hereditary; a deceased chief is invariably followed by a kinsman or kinswoman, though not necessarily his own son or daughter. This reflects Polynesian influence: in most other Melanesian societies, chiefs are appointed on merit. The largest social unit for Fijians is the Yavusa, defined by R. A. Derrick as the direct agnate descendants of a single kalou-vu (deified ancestor). Chiefly succession was from older brother/sister to younger brother/sister, after the death of their father/mother. When the youngest brother/sister died, the eldest son/daughter of the eldest brother/sister became chief. This tradition still influences Fijian society today, though less rigidly: there is more of a tendency nowadays towards primogeniture. [2][3] Each brother/sister in the family then formed his own branch of the yavusa, called the Mataqali. Each mataqali became the custodian of a specific task. A fully developed Yavusa has several mataqali: * Turaga: This mataqali descends from the original ancestor through primogeniture inheritance of the eldest son in each succeeding generation. The chief of a village is always chosen from the Turaga mataqali. [1][4] * Sauturaga: These are next in rank to the chiefs, support him, and enforce his commands and also have final say in the installation of a Chief[1] * Mata ni vanua: These form the official heralds of the village. They are also in charge of ceremonial functions. [5] * Bete: This was the traditional priestly class. The kalou-vu was believed to speak through the Bete. [1][6] * Bati: This mataqali forms the traditional warrior class. [6] * Dau (skill) and Matai: these are the crafts people and specialized skilled people of the tribe e. g. Dau ni vucu (Poet/choreographer/composer), Dau ni yau (treasurer), Mataisau (carpenter/or Canoe builder)[1] The mataqali are subdivided into Tokatoka, each comprising closely related families. Several mataqali comprise a village, several of which form a yavusa or district. The British colonial rulers amalgamated the districts into Yasana, or Provinces. The districts also form three Matanitu, or Confederacies. These are often said to be agglomerations of provinces, but as the latter were a colonial imposition, the boundaries do not coincide exactly, and the Provinces of Tailevu, Ra, Naitasiri, Lomaiviti and parts of Yasawa and Ba makes the Kubuna Confederacy. This Confederacy in modern Fiji is considered to be the most senior. The other two are Burebasaga (covering the rest of Viti Levu), and Tovata, covering Vanua Levu, Lau archipelago and Rotuma. Despite its isolation and relatively small size, Tovata has been politically dominant since Fiji gained its independence in 1970. Language The official language is English while the national indigenous language is Bauan which is only one of the many dialects that exist in the Fiji Group, each of the fourteen provinces more or less have their own dialect though there is a clear distinction between the dialects of the West, Central and Eastern parts of the country. Other languages spoken in the country are Fiji Hindi, Cantonese, Rotuman, Gilbertese (Rabi Island), and Tuvaluan (Kioa Island). The Fiji Islands are traditionally linked to their island neighbours Rotuma, Tonga and Samoa, and this is evident in the culture and dialects of the Northern and Eastern provinces being Cakaudrove, Bua, Macuata, and Lau. The many dialects spoken in these four provinces consistently use sounds that are heard in Tongan and Samoan, but not so with dialects from the Western and South Western parts of Fiji. The Fijian language uses a Latin alphabet. However, the Fijian alphabet is dissimilar from the English alphabet. Fiji English The existence of many dialects within the Fijian language as well as exposure to the other languages spoken have contributed to many Fiji Islanders being bilingual. For general communication in an informal environment, a very interesting cross use of the languages has developed, resulting in slang now commonly referred to as Fiji English. In formal settings, of course, correct usage is adhered to. Fiji English comprises aspects of Fijian, English and Hindi, which reflects the history and identity of the people of Fiji. Fiji English is non-rhotic. . Cultural arts and social polity In culture, its various crafts and music give it an identity along with it traditional etiquette and varying forms of clothing attire, its unique architecture also tells a story of a culture and its evolution, the following will discuss these aspects of culture in Fiji. Arts and crafts Fijis arts and crafts reflect local adaptations of their Polynesian and Melanesian heritage. By tradition, the mens and womens crafts are separate. Womens crafts The village of Na lotu on Kadavu Island is famous for its pottery, the making of which is still governed by strict rituals. Nadroga and Rewa also produce fine pottery. Each region has its own unique style in the making of pottery. Tapa from the Lau Islands in Fiji. The making of Tapa cloth, or (masi), is another craft associated with women. Tapa is made from the bark of the paper mulberry tree and decorated in charcoal with symbolic motifs and various patterns. In modern times, it has become fashionable for a masi to bear the name of the person who made it. Masi are often exchanged as gifts on formal occasions. The island of Vatuelele of the southern coast of Viti Levu is famous for its masi products. Most Fijian mats are made from the leaves of the pandanus tree. The long process of preparation includes scraping and boiling the leaves, and drying them in the sun. There are different mats used for different occasions, and some are made as gifts for formal occasions such as weddings. Most mats are bordered with highly decorative and brightly coloured wool. One well-known Fijian mat is the kuta, made by women in Vanua Levu, particularly Bua. Weaving using various materials was another craft generally mastered by the women but also aspects of weaving were mastered only by the men, various types of weaving practiced were and still are; basket weaving, coconut rope weaving, and coconut leaves weaving. Mens crafts Carving was practiced by the men; carving would be used for items of practical use and simple shapes and design were used. A lot of effort was put into well adorned weapons and items for the home and ceremony, today carving is practiced for its use in tourism and no longer plays a major role in Fijian society and life except in the case of the Tanoa used from drinking Kava. Drua, the most impressive Fijian canoe. Canoe Building was another art practiced only by the men, canoes were not only the major form of communication, but were important in all aspects of Fijian society, from the gathering of food and transporting of crops to use in presentation ceremonies and they were instrumental in wars and politics which were rife in Fiji. 9] The art of Canoe building was varied across the group and had several different types but of a similar design, the Camakau was a small twin hulled canoe for fishing or small transportation purposes, the most impressive of Canoes in Fiji were that of the Drua. In Fijis early history before European involvement, Control of the seaway was a major and decisive objective; disrup ting or cutting off the enemies supply and reinforcements gave great advantage in battle and would ensure victory. Sea battles involving hundreds of canoes were frequent. The canoe, which inspired fear and awe and so often held the balance was the mighty Drua. One of the most elaborate and beautiful artifacts of Oceania, the Drua was a product of considerable group efforts and human sacrifice. Double hulled and of gigantic proportions, the Drua was a masterpiece of design and craftsmanship, requiring total community involvement in its construction and human sacrifice in its launching. 10] Its speed out at sea would be in excess of twenty knots and still remained highly manoeuvrable, it was capable of carrying upward of 150 warriors and took some 6 to 7 years to build and would vary in length from 100 feet to 118 feet and have a mast height of 60 to 70 feet, in the mid-19th century the following accounts were recorded: Up went the huge sail, down went the great steering oars, splashing into the sea, and away we shot like a racehorse. Owing to the great rate at which we were going, the sea was like a hissing cauldron on either side of our course, and the vessel, instead of having time to mount over the smaller waves, cut its way through them. (West, 1869). It had a magnificent appearance with its immense sail of white mats; its velocity was almost inconceivable. (Wilkes, 1840). Ratu Seru Cakobau commanded an impressive fleet which had Several Drua with armed warriors ready for battle the led Canoe was named Rusi I Vanua or Cursed is the land. 11] Much of the art of Canoe building has been lost and only a small few still practice the art on a very small scale as its use in this modern era seems to have lost its place. The craft of Canoe building was traditionally reserved for the male. Performing arts Fijian Rugby Team Performing a Traditional War Dance before their Rugby encounter against Canada. The Meke An indigenous art form is the Meke, which may incorporate the seasea (womens fan dance) or a meke wesi (mens spear dance). It is usually a narrative of an important event such as a war, a chiefly installation, or even a scandal. Some mekes are generations old, and form an important part of Fijis oral history. In olden times, the meke was considered to be an oracle from the gods, and the Dau ni vucu, or composer, would often go into a trance before a performance. Others are modern, composed for a particular event, much as a poet laureate might write a poem to celebrate an event in a Western country. Each district of Fiji has its own form of meke, performed in the local dialect. Other forms of Polynesian and Melanesian dance art forms exist with most widely known being dances of Rotuma and Tonga. There are also various Indian dances and Chinese dances which are performed at relevant festivals marking important times for these communities which are now a part of Culture in Fiji. Music Music of Old Fiji consisted of various chants which often told a story or preserved information to be passed on from generation to generation, these songs used various traditional instruments. With the introduction of European and Asian cultures music in Fiji has evolved and songs sung in the Fijian vernacular are popular but so also are songs in Indian and English, some local artists mix all three languages and traditional instruments from each culture making for a very interesting musical experience. A distinct Indian sound has evolved in Fiji that some see as influencing modern Indian music and even jazz. Clothing and costume The traditional attire was loin cloths for men and grass skirts for women. Skirts were short for single women, and long for married women, with girls wearing virgin locks before marriage. Most ladies of rank had the lower parts of their bodies decorated with tattoos. Chiefs dressed more elaborately. Modern Fijis national dress is the sulu, which resembles a skirt. It is commonly worn by both men and women. One type worn by both men and women is the Sulu va Taga pronounced Sulu vah Tanga which is a wrap around piece of rectangular material which is elaborately decorated with patterns and designs of varying styles this is for more casual and informal occasions. Many men, especially in urban areas, also have Sulu va taga which is a tailored sulu and can be tailored as part of their suit. Many will wear a shirt with a western-style collar, tie, and jacket, with a matching Sulu va taga and sandals, this type of sulu can be worn to a semi formal or formal occasion. Even the military uniforms have incorporated the Sulu va taga as part of their ceremonial dress. Women usually wear a multi-layered Tapa cloth on formal occasions. A blouse made of cotton, silk, or satin, of often worn on top. On special occasions, women often wear a tapa sheath across the chest, rather than a blouse. On other occasions, women may be dressed in a chamba, also known as a sulu I ra, a sulu with a specially crafted top. There are many regional variations throughout Fiji. Residents of the village of Dama, in Bua Province and Cakaudrove i Vanua (Province), Fiji wear finely woven mats called kuta, made from a reed. While traditional and semi-traditional forms of dress are still very much in use amongst indigenous Fijian culture, there is a greater influence for Western and Indian Fashion in urban areas as in neighboring developed nations. Traditions and ceremonies Etiquette in indigenous Fijian ceremony is rather intricate depending on the function as various formalities and presentations which do several things; firstly it shows respect between two communal groups, strengthen tribal and family ties and reinforce social, tribal and family ties. Various items are used in ceremony and surrounded by ceremony, Kava, known in Fiji as yaqona, is Fijis national drink. Traditionally, it was used only in important ceremonies. Nowadays, it is a social beverage. There is a strict protocol associated with yaqona drinking. One should clap once, clasping the hands, take the cup, and drink the yaqona in a single draft before returning the cup to the bearer. Another highly prized item in ceremony is the tabua or Whales tooth, other items also the use of mats (masi) are also used traditionally in ceremony also various regions have tradition that has been passed down generation to generation for centuries one example are the firewalkers of beqa. The Sawau tribe of Beqa are noted for their ability to walk on white hot stones without being burned. 12] Strict rituals have to be observed before the firewalking ceremony. There is an ancient myth about how an ancestor of the Sawau tribe was given this power by a spirit god in exchange for his life, after the god was captured by the man who was fishing for eels. Cuisine The cuisine of Fiji in pre-colonial times consisted of root crops, vegetables, and fruits, as well as various land animals such as wild pig, human, and various birds. The coastal tribes would have had the same, but also had a large amount of local seafood. These would have been prepared with local herbs and spices on wood fire rock ovens. Most cooking areas were located in the center of house so the smoke would repel insects and strengthen the roof thatching. Another popular method of cooking, which is still used today, is the lovo which is an earth oven[13] — a fire made on in a pit in the ground lined with heat-resistant stones. It closely resembles the hangi of the New Zealand Maori. When the stones are hot, food wrapped in (banana) leaves, is placed in the pit, covered with soil and left to cook before being exhumed and eaten. Dishes cooked this way include palusami, parcels of taro leaves saturated with coconut milk, onions, and sometimes tinned meat. Modern Fijian Cuisine is rather diverse with great influence from Indian cuisine and spices. When these are applied to local traditional dishes, it makes for interesting eating. European, Indian, and Chinese variants of cuisine, along with traditional foods, are common place in most, if not all households in Fiji. Architecture A bure kalou, a sketch done in the early 1800s. In Old Fiji, the architecture of villages was simple and practical to meet the physical and social need and to provide communal safety the houses were square in shape and with pyramid like shaped roofs,[14] and the walls and roof were thatched and various plants of practical use were planted nearby, each village having a meeting house and a Spirit house. The spirit house was elevated on a pyramid like base built with large stones and earth, again a square building with an elongated pyramid like [14] roof with various scented flora planted nearby. The houses of Chiefs were of similar design and would be set higher than his subjects houses but instead of an elongated roof would have similar roof to those of his subjects homes but of course on a larger scale. With the introduction of communities from Asia aspects of their cultural architecture are now evident in urban and rural areas of Fijis two main Islands Viti Levu and Vanua Levu. A village structure shares similarities today but built with modern materials and spirit houses (Bure Kalou) have been replaced by churches of varying design. The urban landscape of early Colonial Fiji was reminiscent of most British colonies of the 19th and 20th century in tropical regions of the world, while some of this architecture remains, the urban landscape is evolving in leaps and bounds with various modern aspects of architecture and design becoming more and more evident in the business, industrial and domestic sector, the rural areas are evolving at a much slower rate. Literature The emergence of Fijis literature (as distinct from oral literature) coincides with the countrys transition to independence in 1970. Among the first published works of Fijian literature, in the late 1960s and early 1970s, were Raymond Pillais short stories (in English) and Pio Manoas poetry (in English and in Fijian). More recent notable Fiji writers include Satendra Nandan (poet and novelist), Sudesh Mishra (poet), Larry Thomas (playwright), and Joseph Veramo (novelist). Religion Religion is quite diverse with Christianity being the dominant faith in Fiji. Many Christian denominations are present in Fiji, the most prevalent of which is Methodist. Of the other Asian religions the Hindu faith is dominant, followed by Islam. There are other belief systems observed by Fijians as well. The impact of Christianity The impact of Christianity in the 19th century resulted in certain traditions being proscribed. In the pre-Christian era, human sacrifice was practiced. Men were buried alive to hold the pillars to the house of a chief. Cannibalism was practiced, too:[16] the bodies of enemies slain in battle, or in sacrifice, were piled up and cooked for festivals, such as the installation of chiefs or the launching of a great canoe. 16] Seru Epenisa Cakobau. The Bauan warlord who united the disparate tribes of Fiji and proclaimed himself King in 1871, renounced cannibalism on his conversion to Christianity in 1854. A bure kalou, a pre-Christian Fijian religious Building. Old religion Fijis old religion is no longer practiced by the majority in the indigenous community who have adopted Christianity. Old deities are still acknowledged and respected, but not worshipped. Fijian rituals still exists in private. Demographics Of the various faiths, Christianity is the dominant belief system and ncluding all the various denominations of the Christian faith they number in total 449,482. Hindus, with their various denominations, number in total 261,097. Muslims make up 54,324 of Fijis population. Followers of other belief systems make up 10,166 of Fijis population. Sports Sports culture is unique as different racial mixes and cultures come together in a common interest. Fiji is fanatical about sports and the two most dominant being rugby and soccer. Traditional sports Sports in older times had a practical place, apart from recreation, helping to train young warriors. One such practice would have the older men bring the male children a severely injured captive of war, allowing the boys to practice their archery skills against this living target. There were other sports that were practiced in older times which are not practiced now. Notable traditional sports used to be played were tiqa, ulutoa, veisaga, and veisolo. Modern sports The Fiji sevens team at the 2006 Commonwealth Games in Melbourne. Sports have developed greatly over the past two decades in Fiji with a wide variety of sports undertaken. Fiji is most well known for its prowess in the game of rugby union and in particular rugby sevens. Rugby union Rugby union is the most popular sport in Fiji. The highest level of competition is the Colonial Cup. The Fiji national rugby union team has competed in five Rugby World Cup competitions. The Fijian Rugby Sevens team is constantly one of the top two or three teams in the world, often the premier team. Rugby league Rugby league is a popular team sport played in Fiji. The Fiji national rugby league team is known as Fiji Bati, with the team competing in three Rugby League World Cup competitions. They made it to the semi-finals of the 2008 Rugby League World Cup. Football Football was a minor sport, but over the last decade with further international funding from FIFA and sound local management of the sport has grown in popularity amongst the Indian community initially but now also the Fijian community. Other sports Many sports exist in Fiji and in many ways has its own cultural following, sports such as golf which has been made famous by Fiji athlete Vijay Singh. Sports such as cricket and surfing which was brought to prominence by former world champion and Fiji athlete Tony Philips. Sailing in varying forms, various adventure sports, athletics, various Asian martial arts, boxing, and the list goes on.

Egocentric Subjectivism and the Universal Consciousness :: Philosophy Research Papers

Egocentric Subjectivism and the Universal Consciousness It was at the beginning of my vacation that I realised the world was not all it appeared to be. Up until now, I had always accepted that the world was a collection of material objects independent of myself. As I sit in the airport lounge waiting for my flight, it now seems that everything I see is nothing more than a series of images projected in my mind. The lounge is like a stage set and people, like characters in a film, pass by and disappear. The world, or rather my world, is simply that which exists in my mind, but has no material existence in my mind. Does that mean that the objects of the world have no existence outside my mind? My understanding of existence is what my mind reasons it to be. Even if someone tells me what existence is to them, I must still consider their comments in the context of my own knowledge and interpret it as what existence means to me. For example, a passenger in the airport lounge complains that a flight delay will lose him a valuable contract. I know what the loss of a contract means, but only because I can relate it to my own experience of a similar situation. I then make an assumption that it means the same to him, but I cannot be certain of that. I can only know what existence means to me, and it is egocentric subjectivism that takes this to its ultimate limit. My world and everything in it are dependent on my mind for its existence and without my mind that world would not exist. Despite this reasoning, it does seem that I am moving about within a three-dimensional world. Movement itself can be illusory depending on what is believed to be stationary. When I arrived at Zurich I boarded a train and waited to travel on to my destination. A train on the next track also stood waiting. Before long we were off and I watched the carriages of the other train swiftly disappear from view as we gained speed. As we passed the last carriage, I saw that we were still in the station and realised that it was the other train moving and not ours. However, when the train made its way around the mountains and up into the Alps, it did seem as if there was a three-dimensional space through which it moved.

Determinants of Dividend Policy of Cement Industy of Pakistan

RESEARCH PROPOSAL DETERMINANTS OF DIVIDEND POLICY OF CEMENT INDUSTY OF PAKISTAN Submitted To: Dr. Ahmed Faisal Imtiaz Siddiqi Submitted By: Muhammad Waqar Akram ID # 12002096-010 Programme: MS-Finance Batch-02 INTRODUCTION Dividend Policy refers to the explicit or implicit decision of the Board of Directors regarding the amount of residual earnings (past or present) that should be distributed to the shareholders of the corporation This decision is considered a financing decision because the profits of the corporation are an important source of financing available to the firm.Dividend policy is a one of the most debated topics and a core theory of corporate finance which still keeps its prominent place. Many researchers presented various theories and uncountable empirical evidences, but the issue is still unresolved and open for further discussion. It is among top ten unresolved problems in the finance literature and we have not an adequate explanation for the observed dividend behavi or of the firms There are several reasons whether firms should pay dividends or not. The â€Å"dividend puzzle† why firms pay dividends and stock holders pay attention to dividends and still unresolved.Many hypotheses have been drawn to shed some light on this puzzle but the problem still exists. Normally a firm faces the problem of allocation of earnings, whether to distribute among shareholders or retaining for reinvestment and promote the firm growth. Retained earnings are a main internal source of financing, but higher retained earning mean fewer dividends and vice versa. The cement sector is a prominent sector of Pakistan and works as an engine of economic growth in the economy. It provides employment to a large number of people (directly & indirectly).Cement production capacity in Pakistan is 44 million tons annually while local demand is only 24 million tons, leaving a surplus of 20 million tons. Cement manufactured in Pakistan is being exported to Afghanistan and Cent ral Asian States below cost. During FY-11 cement industry exported over 4 million tons to these markets and the industry is optimistic that exports to Afghanistan and Central Asian States shall increase further since these countries are landlocked and Pakistan is the only country which is able to supply cement at competitive rates.So, it is important to find the factors that determine and affecting the dividend payout policy of this sector. LITERTURE REVIEW Over the past 50 years a great attention was given to determine the factors influencing dividend payout policy. A vast literature is available in this regard, however, the puzzle is still unresolved and open for further discussion. â€Å"Why do firms pay dividends? † further he raises a second question, â€Å"Why do investors pay attention to dividends? † although, the answers may appear clear, (Black 1998)but Black concludes that they are not.As we try to explain the fact, the more it seems like a puzzle, with piec es that just do not fit together. Various factors can be considered as the determinants of dividend payout policy and a number of logics for dividend payout policy have been declared in the literature, however, the researchers are not agreed on a single point. In developed economies, the decision whether paying dividends or keep as retained earnings has been taken very carefully by both investors and the management of the firm. (Adaoglu 2000) By paying a sufficient amount of dividend firms can prevent from the agency problem.The dividend payouts are helpful to keep firms in the market, where monitoring of managers is available at low cost. The managers make financial policy trade-offs to control agency cost in an effective way(Amidu and Abor 2006) A free cash flow is helpful for a firm to share it with stockholders as dividends and pay the debt in order to reduce the possibility of these funds being wasted on unprofitable projects(Pettit 1972) Firms’ investment policies have a significant impact on its dividend payout policy; the firms with less investment plans has greater amount to distribute as dividends.Due to the higher investment opportunities firms deprive from higher dividends to lower. So the investment opportunities has a negative relationship to the dividend payouts(Farinha 2003) Another factor affecting the dividend policy is the ownership of firm; state owned firms follow a smooth dividend pattern as compare to family owned firms. The family owned firms are uneager to pay dividends, whereas the state owned firms are more reluctant to diminish the dividend amount.The insider ownership also play a significant role in dividend policy(Imran 1997; Okpara 2010) The dividend policy is quite different in emerging markets as compare to developed economies, and seems to be affected by a number of factors(Al-Kuwari 2009) Due to several reasons like taxes pay procedure, stock market volatility and certain asymmetryinformation the dividend payout patter n is different in emerging markets as compare to developed nations.Another reason is that in emerging markets the firms focus on dividend payout ratios as compare to the level of dividends paid(Al-Kuwari 2009; Terra 2011) Higher the earnings of a firm, greater the size and firms with foreign ownership prefer to distribute a higher and constant amount in dividend payouts according to their earnings and size(Eriotis 2011) The liquidity of the firm leaves a negative impact on the firms dividend payout decision.The stock market liquidity and dividend are substitutes in the sight of investors, so the firm’s dividend policy is associated to the liquidity of its common stock. As a result firms with more liquid common stock, distribute less cash dividend(Amidu 2007) The more profitable firms are willing to distribute a higher amount of dividend payouts. The greater profitability not only positively affects the firms’ current dividend but dividend yield also. Whereas, the riski er firms distribute lower dividends and hence lower dividend yields.The firms which can easily fulfill their short term needs and want to improve their current payouts than last year are more willing to pay dividend(Fama and French 2002) OBJECTIVE †¢Companies pays dividend smoothly on regular basis †¢Dividend payout policy depend on size of firm †¢Profitability(Net Profit) of company effect dividend policy †¢Growing companies (Growth in sale) pays dividend on regular basis †¢Investment opportunity (Retained earnings) effect the dividend policy †¢Impact of liquidity (cash flows) on dividend policy †¢Impact of leverage (Debt to Equity ratio) on dividend policyTHEORITICAL FRAM WORK DATA COLLECTION & PROPOSED METHODOLOGY Investigates the factors determine the dividend payout policy of Pakistani cement companies listed on KSE. The data employed is derived from Balance Sheet Analysis of KSE listed companies published by companies, covered the ten year pe riod 2001 to 2010 of 26 companies. (companies depends upon availability of data) The nature of the data allows us the use regression analysis to build relationship between dividend payout policy and factors which influence dividend policy HYPOTHESISH1: Cement companies pays smooth or stable in paying dividend H2: Positive relationship of dividend payout and size(Total Assets) of company H3: Positive relationship between Profitability(Net Profit) of company & dividend payout H4: Positive relationship between growth(Growth in sale) and dividend payout H5: There is positive relationship between liquidity (Quick Ratio) & dividend payout. H6: There is negative relationship of leverage (Debt to Equity ratio) & dividend payments H7: There is negative relationship between Investment opportunity (retained earnings/total asset) and dividend payout Limitation Due to unavailability of all companies data listed on KSE to construct a balance panel and for selected time period, the study used data for twenty companies which represent more than 80 % of total cement industry. ?This study includes both types of firms (e. g. dividend paying and non paying firms). ?There are many determinants of dividend policy but only six determinates have been taken. References Adaoglu, C. (2000). â€Å"Instability in the dividend policy of the Istanbul Stock Exchange (ISE) corporations: evidence from an emerging market. Emerging Markets Review 1(3): 252-270. Al-Kuwari, D. (2009). â€Å"Determinants of the dividend policy in emerging stock exchanges: The case of GCC countries. † Global Economy & Finance Journal 2(2): 38-63. Amidu, M. (2007). â€Å"How does dividend policy affect performance of the firm on Ghana Tock exchange? † Investment Management and Financial Innovations 4(2): 103-112. Amidu, M. and J. Abor (2006). â€Å"Determinants of dividend payout ratios in Ghana. † Journal of Risk Finance, The 7(2): 136-145. Black, F. (1998). â€Å"The dividend puzzle. Streetwi se: the best of the Journal of portfolio management: 10. Eriotis, N. (2011). â€Å"The Effect Of Distributed Earnings And Size Of The Firm To Its Dividend Policy: Some Greek Data. † International Business & Economics Research Journal (IBER) 4(1). Fama, E. F. and K. R. French (2002). â€Å"Testing trade? off and pecking order predictions about dividends and debt. † Review of financial studies 15(1): 1-33. Farinha, J. (2003). â€Å"Dividend policy, corporate governance and the managerial entrenchment hypothesis: an empirical analysis. † Journal of Business Finance & Accounting 30(9? 0): 1173-1209. Imran, K. (1997). â€Å"Determinants of Dividend Payout Policy: A Case of Pakistan Engineering Sector. † Romanian Economic Journal 14(41): 47-60. Okpara, G. C. (2010). â€Å"Investigation of the critical sources of investment finance in Nigeria: a factor analytical approach. † Pettit, R. R. (1972). â€Å"Dividend announcements, security performance, and ca pital market efficiency. † The Journal of Finance 27(5): 993-1007. Terra, P. R. S. (2011). â€Å"Determinants of corporate debt maturity in Latin America. † European Business Review 23(1): 45-70.

Drug Abuse Prevention And Control Act - 2194 Words

It has been over thirty-one years since the United States first waged the  War on Drugs.   This war has cost hundreds of billions of dollars to fight and has given our country many mixed results. We have seen fluctuations in the numbers over the years, which are, can be linked to different social fads and political agendas. Despite the enormous amount of money we have spent to rid our country of illegal drugs, we still have four million Americans addicted today. Stricter drug laws have caused there to be an overflow of prisoners convicted of drug charges and have transformed these people into tax burdens instead of taxpayers. Through the investigation of the drug war with President Nixon, through the peak of drug use in the late 70 s to the rise of crack in the 80 s and into the legalization of Marijuana, This paper will explain why drugs continue to flow into America at an alarming rate and try and uncover the effectiveness of the war. Beginning in 1970, Congress passes the Comprehensive Drug Abuse Prevention and Control act. In addition to consolidating previous anti-drug laws, the act provides federal funding for drug abuse prevention and treatment efforts. The Act establishes tough penalties for drug trafficking, but actually lessens federal penalties for the possession of marijuana. In 1971, President Nixon declares War on Drugs.   To coordinate anti-drug efforts, he creates the special Action Office for Drug Abuse Preventior. In 1972, the Drug Enforcement AgencyShow MoreRelatedFice Of National Drug Control Policy947 Words   |  4 PagesThe Office of National Drug Control Policy (ONDCP) was created by the Anti-Drug Abuse Act of 1988 to aid in the declination of illicit drugs within the United States. The ONDCP advises the president on drug-control issues, coordinates drug-control activities and related funding across the Federal government, and produces the National Drug Control Strategy. 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The first National Drug Supervision and Control Str ategy and Assistance to Drug Addicts in The Republic of Croatia wasRead MoreThe Effects Of Substance Abuse On Children1628 Words   |  7 PagesIntroduction to Family Issue Substance abuse has been a big problem not only in our society but also to the families affected by it. According to Crosson-Tower â€Å"Over 13 million children live with a parent who has used illicit and addictive drugs†¦Ã¢â‚¬  (Crosson-Tower, 2004, pp. 97-98). Children are like sponges they learn and copy what they see and experience. According to Bernard, et al â€Å"Through our primary caregivers we learn to understand and make sense of the world† (Bernard, et al., 2006, p. 80)Read MoreDrug Of Drug And Drug Abuse1538 Words   |  7 PagesDrug Resistance Drug use has become an increasing problem among high schoolers and teenagers around the same age. Ever since the drug war of the 1900s, drugs have been a major problem in today’s society. â€Å"Use of drugs such as opium, morphine, and other byproducts were common in twentieth century America† (Dobkin, 1998). While most students in standard high school drug education know about the use of coca leaves in Coca-Cola and the opium trade in China, drug addiction during the century is muchRead MoreDrug Abuse On The United States Essay1344 Words   |  6 PagesDrug Abuse on the Rise in the Community â€Å"In 2014, nearly two million Americans either abused or were dependent on prescription opioid pain relievers (â€Å"Injury Prevention and Control: Opioid Overdose,† 2016.)† The CDC is now saying that the United States is in an epidemic. The purpose of this paper is to explore the increasing drug use in the United States over the last decade. 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The opioid abuse bills focus specifically on opioidsRead MoreProject Prevention : A Non Profit Organization1413 Words   |  6 Pages Project Prevention formally known as C.R.A.C.K, is a non-profit organization that offers current and former drug addicted men and women an incentive of $300 to commit to use a form of birth control, options include an IUD, oral contraceptives, Depo-Provera or agree to sterilization. Barbara Harris, which is the founder of Project Prevention, adopted four children from the same drug addicted women who could not take care of her children. Barbara Harris came up with the idea of the organization whenRead MoreThe Health Care System As A Whole951 Words   |  4 PagesDescribe the effect of the issue/topic on the health care system as a whole. Drug abuse is an illness of the brain, and it has a negative impact on the body system. It weakens the immune system making is difficult for the body to fight diseases. Drug use also affect other organs of the body which includes the heart, liver kidney and the brain. This illness can cause paranoid, aggression, impaired judgment, hallucination and suicidal ideations. The statistics available shows that annual number of