The Act of Writing in Tennyson’s ‘In Memoriam’ and Thackeray’s ‘Going to See a Man Hanged’ - Literature Essay Samples

Winston Churchill said that ‘the truth is incontrovertible’. This statement construes ‘truth’ as an absolute concept, where there is only one truth, and anything else is by definition a non-truth. Tennyson’s In Memoriam and Thackeray’s ‘Going to see a Man Hanged’ are certainly diverse in their genres; Tennyson’s words are a profound ode to a lost friend, whereas Thackeray’s article is a satirically disgusting account of a public event. Yet, both their acts of writing seek a truth, and not the absolute definition that Churchill specifies. Thackeray’s truth is based on presenting an accurate account of an event; it is literally telling the truth of what he sees before him, translating sight to word with little creative interpretation. Tennyson differs from this. His writing is not based on what he sees, but the grief he feels, and his truth is in being able to aptly express this when there seems no words fit to s hape his emotions. Yet, another writer may express the same grief differently, or may indeed react differently to publicly viewing a man hanged. Therefore, perhaps the truth can only be incontrovertible to the person who expresses it. It is a truth specific to them, yet may not exist as a universal, absolute truth. By creating a poem that resonates grief, Tennyson is simultaneously liberated and restricted through the use of words in In Memorium. They exist as a medium of confession, yet he also struggles to find the words that will allow him to truly express the extent of his mourning. T. S. Eliot commented that In Memoriam was ‘a concentrated diary of a man confessing himself.’ And it is extremely interesting to consider this ode as a ‘diary’. It positions the readership as almost voyeuristic, as if we are peeping in to a private account. This notion is furthered by partially religious language; Tennyson must ‘[confess] himself’ as if to a priest, as if through admitting emotion, he is also admitting to a sin. This perhaps exists as a slight awareness of the social conditions of a Victorian England, where it was arguably considered less masculine to express weakness through feeling. Yet, this idea of the ‘diary’ is also limited. Instead of s tudying what is written, it is almost more important to consider what has not been written, what Tennyson has not confessed. He struggles so to define his grief through words that it is a less of ‘confession’ of how he truly feels, and more an exploration of his unanswered agony. Tennyson describes how powerless words currently seem to him: ‘A use in measured language lies/ The sad mechanic exercise.’ This truly expresses Tennyson’s frustration; words, and writing are no longer enough for him. Language has the ability to create entire worlds out of merely imagination, yet now it is ‘measured’. Perhaps this suggests that words, in reality, have a pre-conceived mould and only a certain emotion can be expressed through each. For example, the word ‘sad’ cannot reach the depths of Tennyson’s damage. However, this idea of ‘[measure]’ could also arguably be a momentary relief. As a word is limited in it’s expression of emotion, a complete lack of control is not possible, and it presents well-needed boundaries on grief that may have previously not existed. In Tennyson’s struggle to use words as a vessel of expression, there is also a subsequent questioning: once Tennyson has shaped these meaningful words in to a poem, can the reader then understand the full extent of his pain? If so, this presents a separation of understanding between author and reader. And this is a motif that is repeated throughout the poem’s form. Tennyson experiences a ‘mechanic exercise’ through a monotonous life without his beloved friend, yet is also mechanic in his repeated quatrains of tetrameter. Tennyson uses the same rhythm and structure throughout, using merely different words. Thereby, he repeats the same patterns of grief until he hopes they will come to represent something different. In Memorium therefore arguably refuses to exist as a ‘confession’; there are si mply no words capable to warrant this label. His odes remain simply ‘just words’ (Tennyson, p.102). In comparison, Thackeray’s ‘Going to See a Man Hanged’ uses the act of writing to record, not explore emotion. Words are used to organise reactions, not explore their emotional meaning. Yet, even this simple act of writing can be interpreted, and Thackeray interrupts the narrative to insert something similar to a disclaimer. He makes a claim to the truth, in it’s definition of being an accurate record of events: At least, such was the effect the gallows first produced upon the writer, who is trying to set down all his feelings as they occurred, and not exaggerate them at all†¦ (Thackeray, p. 151) Arguably, the most important, and noticeable, literary technique is the shift in narrative person. The account is written in first person, yet here Thackeray shifts the narrative perspective to the third person. It is almost reminiscent of a witness in a court, swearing on a bible that he will tell nothing but the truth, exaggerating the importance that he does record the truth. In almost direct antipathy to Tennyson’s exploration of each individual emotion, Thackeray’s focus is more on identifying each, and the order in which they are experienced. Perhaps this suggests that there is a set way to react to such an event, and Thackeray attempts to emulate this emotional process. Yet, this process of accurately representing the order of reaction can only ever be an attempt. He claims to write down ‘all his feelings as they occurred’, yet the act of writing, despite the tense, will always approach events and feelings are retrospective. The short moment between experiencing these emotions and recording them deems them already a memory, perhaps suggesting that any act of writing cannot wholly be the ‘truth’ of what happened, or what a person experienced. Furthermore, Thackeray makes a subtle, but important, distinction between his genre and poems such as In Memorium. The narrator claims he will not ‘exaggerate’ his feelings, perhaps suggesting that other genres do exaggerate them, to a fanciful effect. This splits his genre from fiction, and makes it a more realistic piece, as it once again claims his account is the truth. To conclude, Thackeray’s narrator seems so focused upon the truth of the events and their order that he temporarily interrupts the narration. This disclaimer almost suggests the opposite. Not only does Thackeray’s claim to truth suggest that he is, in fact, untruthful, but it seems superfluous. He claims to translate the events to paper as soon as they happen, yet pauses to speak di rectly to the readership. Therefore, not only does Thackeray’s factual truth differ from Tennyson’s emotive, but it is still a feat that, despite claims, is difficult to achieve. As previously explored, words in Tennyson’s In Memorium become wholly inadequate to describe such a grief. In a manner, Thackeray adopts the same stance; language becomes a secondary medium compared to sight. The concept of witnessing is incredibly important in ‘Going to See a Man a Hanged’. The first person narrative acts as the witness, then relays the scene for the readers to also act as witnesses. However, this proves difficult, and it is undeniable that such a sight will cause more of an impact when seen, rather than read. A particular moment emphasises this, when the narrator begins to feel the psychological effects of seeing a man publicly die. He ‘had the man’s face continually before [his] eyes’ (Thackeray, p. 158). This type of reaction can obviously only stem from one who directly witnessed the event; the reader can imagine his horror, but can never experience it to this potent extent. His utter revulsion is emphasised by a sense tha t the image will never recede –it is ‘continually’ in his mind’s eye –and that he is almost being punished for standing witness to such an abhorrence. Therefore, whilst the narrator witnesses and records the event first hand, the reader can never full be aligned with the narrative. They are forced to interpret an intense emotional experience second hand, not feel it. Yet, Thackeray refuses to directly admit the inadequacy of language as Tennyson does. Instead, he substitutes language with words from other scenarios; he uses metaphors, arguably a step away from any realism he previously claims. For example, the event is described as ‘butchery’ (Thackeray, p.158), a particularly primitive and gruesome manner in describing bloodshed. The man who has been hanged is reduced to a pig, strung up on show for the crowd to judge. Another technique used by Thackeray is to forgo words altogether. Between two passages, he has inserted a symbol of th e gallows. This symbol allows a break in the narration; the narrator has stopped recording, as the reader stops reading. The gallows have a universal meaning, and it is this knowledge of what they are used for that creates such a bleakness. Fundamentally, it is only a block drawing of a wooden structure. Yet, it has a possibility to take away life, and this is almost terrifying to consider in an account where thus far the only images constructed have been imaginary. Therefore, when the appropriate language becomes insufficient, Thackeray merely borrows words from different scenarios, or refuses to use them at all. And this is such a powerful technique; it depends almost as much on what is not said than what is. As it has been previously explored, both Thackeray and Tennyson express –albeit in different manners –that the act of writing is inadequate in translating either their inner workings or outer sights. Yet, it is arguable that it is not words that are insufficient, but perhaps the expectations of the narrator. Thackeray states that he wishes to present both clarity and truth, yet consequently expects the reader to feel as acutely as he does, despite the fact they are witnessing through words, not sight. Similarly, no words can describe the grief Tennyson feels in In Memorium. Yet, the only way they could fulfil this would be if they offered not only explanation but also absolution. It is as if Tennyson almost expects the act of writing to heal his woe, to fill the gap left by Hallam. Both writers aim for impossibilities, and this creates a constant tension between the imaginative power of language, and the bleak reality that writing is merely putting ink to paper. Bibliography Killham, John, ed., Critical Essays on the Poetry of Tennyson (Great Britain: Routledge Ltd, 1960) Tennyson, Alfred, In Memoriam, Maud and other poems, ed. by John D. Jump (London: J.M Dent Sons Ltd, 1974) Thackeray, William Makepiece, ‘Going to See A Man Hanged’, Fraser’s magazine for town and country, 128 (1830-1869) 150-158 Welsh, Alexander, ed., Thackeray: A Collection of Critical Essays (New Jersey: Prentice-Hall Inc., 1968)

Capital Structure And Profitability Relationship For Ftse Firms - Free Essay Example

The capital structure of a firm has long been a much debated issue for academic studies and in the corporate finance world. It is the way a firm finances its assets through some combination of equity, debt, or hybrid securities the composition or structure of its liabilities. In reality, capital structure may be highly complex and include various sources. The question whether capital structure affects to the profitability of the firm or it is affected by profitability is crucial one. Profitability and capital structure relationship is a two way relationship. On the one hand profitability of firm is an important determinant of the capital structure, the other hand changes in capital structure changes affect underlying profits and risk of the firm. Traditionally it was believed that the debt is useful up to certain limit and afterwards it proves costly. There is an optimum level of capital structure exist up to that level increasing debt will improve profitability, beyond that it will reduce profitability. In 1945, Chudson carried out an extensive study that implies the possibility of a relationship between the capital structures practised by a firm with its profitability. The question he endeavours to answer was that, à ¢Ã¢â€š ¬Ã…“In what way does the structure of assets and liabilities of a firm reflect the kind of industry in it is engaged, its size and level of profitability?à ¢Ã¢â€š ¬? In 1958 Merton Miller and Franco Modigliani in their famous Miller-Modigliani (MM) propositions put forward the net operating income approach of and demonstrated that the capital structure is irrelevant in a perfect market. It states irrelevant of capital structure in a perfect market to its value, hence, how a firm is financed does not matter. The MM propositions forms the basis for modern thinking on capital structure, though it is generally viewed as a purely theoretical result since it is based on perfect market assumptions those are not prevailing in practice. The matter of capital structure has gained much interest and controversy, since the MM Propositions which assert that the value of a firm is independent of its capital structure. The hypothesis proposed by MM created tidal waves in the corporate finance academia. Different theory such as packing order theory and agency cost theory were proposed. Various aspects of capital structure have been put to test and researched by so many researchers. The question is if the capital structure is really irrelevant in a real market and whether a companys profitability and hence value is affected by the capital structure it employs? If not, why capital structure is relevant and which factors make the leverage matter? Apart from profitability, some other factors such as bankruptcy costs, agency costs, taxes, and information asymmetry are considered in determination of capital structure. This study aims and attempts to extend the knowledge of capital structure and profitability relationship in listed UK companies. This analysis can then be extended to look at whether there is in fact an optimal capital structure exist the one which maximizes profitability and hence the value of the firm. 1.1 Context and relevance of the Study The topic of capital structure has been widely explored, though the study is relevant in the different time period and different context to find out whether the evidence concerning the capital structure issue and its various aspects are relevant to a given set of companies in a given period. Given this significance, current study attempts to understand and research on capital structure and its effect on profitability, of large firms in UK in the present context for a period of five years (2005 -2010). Thus, this study attempts to contribute to the research on capital structure in the recent period for large publicly traded companies on FTSE 100. 1.2 Research Objectives The present study is aimed at achieving one main and two secondary objectives. The main objective is to scrutinise the relationship between the capital structure and profitability of the large publicly traded UK firms and to ascertain whether a firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s profitability is related with its capital structure or not based on the empirical evidence generated. Secondly, this study would attempt and investigate to determine if any optimal capital structure exist among the sample of FTSE 100 listed companies. Third objective is to find out any trend of capital structure being exhibited by the UK companies. 1.3 Research Questions and Hypothesis The above objectives are translated in two research question. The main research question is that à ¢Ã¢â€š ¬Ã…“whether a firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s profitability is related with its capital structure or not?à ¢Ã¢â€š ¬? based on the empirical evidence generated. Hypothesis The first questions can be presented as following hypothesis. The present study shall be undertaken to evaluate this hypothesis based on the tests of the null hypothesis. H1: The profitability of a company is significantly correlated to its capital structure. H0: The profitability of a company is not significantly correlated to its capital structure. The secondary objectives of this study are translated in the determinant question regarding the optimality and trend of capital structure. The second question, will be discussed descriptively is that, Is there an optimal capital structure exists among or any trend of capital structure being exhibited by FTSE 100 listed companies? 1.4 Scope and Limitations of the Study Scope This is an academic study that would shed some light on the matter of capital structure which has been discussed in various different perspectives since the MM propositions. The significance of this study is that it further enhances the research into capital structure of listed firms in UK. Profitability and Capital structure relationship is an ongoing issue and its relevance may change in different period because of the changes in macro and micro economic factors. For practitioners and corporate finance people such as finance executives, controllers and directors of listed firms, this study is relevant and of much interest to get insight of the capital structure and whether it has any effect on the profitability. Limitations The findings of this study will be limited from the following aspects: This study included only FTSE 100 listed firms on the London Stock Exchange (LSE). Hence, its findings were not applicable for all the listed companies in UK. The sample of listed companies for this study included only firms with at least five years of financial data. Firms which are younger than five years or whose five year data could not be obtained will not be included in this study. The study excludes financial utility and other highly regulated industry to avoid any distortions in the result due to industry specific requirements. The cross sectional correlation and regression analysis will be performed using excel formula. CHAPTER 2 LITERATURE REVIEW The various capital structure theories are developed by corporate finance academia for analysing how a firm could combine the securities to maximise its value. The Modigliani and Miller (MM) proposition (1958) were introduced under the perfect capital market assumptions. It refers to an ideal market where there are no taxes at both corporate and personal level, no transaction costs, no agency costs as and managers are rational. It further assumes that investors and firms can borrow at the same rate without restrictions and all participants have access to all relevant information. Thus it provides conditions under which the capital structure of a firm is irrelevant to total firm value. Most of studies focus on the determination of capital structure i.e. to what extent each of the assumptions in the MM model contributes to the determination of the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s capital structure. Many theories such as the pecking order theory, the trade-off theory and the agency cost theory have been developed. Though much attention was not given to one major aspect of the capital structure, which is the impact of the value of the firm. The value comes from the future cash flow i.e. profit of the firm. Thus capital structure affects value of the firm through the profitability and hence there is a direct relationship between the capital structure and profitability of the firm. Capital Structure The term capital structure can be defined as: à ¢Ã¢â€š ¬Ã…“The mix of a firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s permanent long-term financing represented by debt, preferred stock, and common stock equity.à ¢Ã¢â€š ¬? (Van Horne Wachowicz, 2000, p.470) It can be defined as à ¢Ã¢â€š ¬Ã…“The mix of long-term sources of funds used by the firm. This is also called the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã…“capitalizationà ¢Ã¢â€š ¬?. The relative total (percentage) of each type of fund is emphasized.à ¢Ã¢â€š ¬? (Petty, Keown, Scott, and Martin, 2001, p.932) One of the exhaustive and inclusive description was given by Masulis (1988, pl): à ¢Ã¢â€š ¬Ã‹Å"Capital structure encompasses a corporationà ¢Ã¢â€š ¬Ã¢â€ž ¢s publicly issued securities, private placements, bank debt, trade debt, leasing contracts, tax liabilities, pension liabilities, deferred compensation to management and employees, performance guarantees, product warranties, and other contingent liabilities. This list represents the major claims to a corporationà ¢Ã¢â€š ¬Ã¢â€ž ¢s assets. Increases or reductions in any of these claims represent a form of capital structure change.à ¢Ã¢â€š ¬? However in this study, for the sake of simplicity, the capital structure will be analysed in term of debt and equity in line with other prominent capital structure studies and theories restricted to the debt equity mix. Profitability The term profitability is a very common term in the business world. It refers to an all round measurement and indicator for a firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s success. Profitability can be defined as the ability of a firm to generate net income or profit on a consistent basis. It is often measured by price to earnings ratio. The accounting definition of profit can be given as the difference between the total revenue and the total costs incurred in bringing to market the product i.e. goods or service. Hence, profitability had come to mean different things for different people. It can be defined and measured in several ways depending on the purpose. It is a generic name for variables such as net income, return on total assets, earnings per share, etc. though the simplest and common meaning of profitability is the net income. 3.1 Early Study on Capital Structure by W A Chudson One of the earliest comprehensive researches into capital structure of business firms was done by Chudson Walter Alexander (1945) on a cross section of manufacturing, mining, trade, and construction companies in the US from the year 1931 to 1937. Although it has been more than two third of a century, that study is still relevant today as before due to the seven questions which he endeavoured to answer. Out of those questions the relevant to this study are as follows. In what way does the structure of assets and liabilities of a given concern reflect the kind of industry in which a concern is engaged, the concernà ¢Ã¢â€š ¬Ã¢â€ž ¢s size and level of profitability? Are there any elements in the corporate balance sheet, either on the asset or the liability side, whose range of variation is so narrow that it is possible to speak of a à ¢Ã¢â€š ¬Ã…“normalà ¢Ã¢â€š ¬? pattern of financial structure? The questions posed by Chudson could be interpreted into the research questions pertinent to this study which are the relationship between profitability and capital structure, the existence of an optimal capital structure, and also the trend of capital structure being practised by a sample of firms. Chudsonà ¢Ã¢â€š ¬Ã¢â€ž ¢s research showed there were undisputable relationships between corporate financial structure and the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s profitability. As far as this study is concerned, Chudson had successfully proved the relationship between the profitability of a company with various capital structure variables including debt and equity capital. 3.2 M M Propositions In 1958 Merton Miller and Franco Modigliani in their famous Miller-Modigliani (MM) propositions put forward the net operating income approach of and demonstrated that the capital structure is irrelevant in a perfect market. Accordingly, the first Proposition holds that the value of a firm is independent of its capital structure. While the second proposition stats that when first proposition held, the cost of equity capital was a linear increasing function of the debt/equity ratio. As miller wrote subsequently these propositions implied that the weighted average of these costs of capital to a firm would remain the same no matter what combination of financing sources the firm actually chose. (Miller, 1988) In 1962, Barges tested and evaluated the MM propositions predominantly on the validity of the hypothesis that the cost of capital to the firms is unaffected by capital structure. According to Barges (p. 143): à ¢Ã¢â€š ¬Ã…“With respect to the empirical methods employed by MM it was found that, under very frequently encountered conditions, their methods will result in tests which are biased in favour of their propositions and biased against the traditional views.à ¢Ã¢â€š ¬? Barges had empirically proved the existence of some weaknesses in the research design and methodology of Modigliani and Millerà ¢Ã¢â€š ¬Ã¢â€ž ¢s study and concluded that (p. 147) à ¢Ã¢â€š ¬Ã…“Thus, on the basis of the evidence presented herein, the hypothesis of independence between average costs and capital structure appears untenable.à ¢Ã¢â€š ¬? Subsequently many studies were conducted with focus on the determination of capital structure and many theories were presented. 3.3 Profitability and Leverage theories Since MM propositions presented, many studies were conducted by releasing MM assumptions focusing on the extent to which each of the assumptions contributes to the determination of the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s capital structure. All these theories explains the relationship between leverage and the value of the firm and hence profitability of the firm. There are various theories in order to further explain this relationship. Nevertheless, these theories are actually based on asymmetric information (Myers, 1984), tax deductibility (Modigliani and Miller, 1963; Miller 1977), Bankruptcy costs (Stiglitz, 1972; Titman, 1984) and agency costs (Jensen and Meckling, 1976; Myers, 1977). Two main theories are the pecking order theory and the trade off theory. Pecking Order Theory The Pecking Order Theory is based on information asymmetry between management and investors. So, the stock price of a firm may not reflect correct value of the firm. Myers and Majluf (1984) and Myers (1984) suggest that management issue the security which is overvalued and therefore, undervalued firms tend to avoid issuing equity. They argue that in imperfect capital markets, leverage increases with the extent of information asymmetry. They provided theoretical support to Donaldsonà ¢Ã¢â€š ¬Ã¢â€ž ¢s (1961) findings that firms prefer to use internally generated funds as a financing source and resort to externals funds only if the need for funds was unavoidable. According to (Myers 1995), the dividend policy is à ¢Ã¢â€š ¬Ã…“stickyà ¢Ã¢â€š ¬? and the firms prefer internal to external financing. Firms prefer using internal sources of financing first, then debt and finally external equity obtained by stock issues. Therefore, asymmetric information models seldom point towards a well-defined target debt ratio or optimal capital structure. All things being equal, the more profitable the firms are, the more internal financing they will have, and therefore we should expect a negative relationship between leverage and profitability. The various studies such as Ross (1977), and Myers and Majluf (1984), Harris and Raviv, 1991; Rajan and Zingales, 1995; Booth et al., 2001have supported this relationship that is one of the most systematic findings in the empirical literature. Agency Costs Theory The Agency Costs Theory (Organizational Theory of Capital Structure) emphasize that capital structure was influenced by conflicts between shareholders and managers, and between debt holders and equity holders. Major study into this area was done by Jensen and Meckling (1976) that showed managersà ¢Ã¢â€š ¬Ã¢â€ž ¢ natural tendency to extract too many perquisites and stresses on self-interested behaviour. Obviously, agency costs would increase as the managersà ¢Ã¢â€š ¬Ã¢â€ž ¢ personal ownership stake in the firm decreases. This supplied an argument for debt financing and against à ¢Ã¢â€š ¬Ã‹Å"publicà ¢Ã¢â€š ¬Ã¢â€ž ¢ equity which was contributed by non management investors who cannot monitor management effectively. Fama and Miller (1972), using agency cost theory, proved that leverage was positively associated with firm value. Firms with longer credit histories would have lower cost of debt. The Trade of theory The trade-off theory is based on the considerations of benefits and the costs of debt. This theory argues that firms optimise their capital structure by trading the tax deductibility of interests, bankruptcy costs, and agency costs. This theory is consistent with traditional approach of capital structure. This theory leads to an opposite conclusion. Accordingly if the firms are profitable, they should prefer debt to benefit from the tax shield. Further as the past profitability is a good proxy for future profitability, profitable firms can borrow more because the likelihood of paying back the loans is greater. However after a certain level of leverage, the profitability and the value of the firm will reduce due to interaction of bankruptcy costs and agency costs. 3.4 Various Studies on Capital Structure As the issue of capital structure gained prominence and interest, a number of studies had been done over the years to explore the relationship between capital structure and a firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s various characteristics e.g. growth opportunities, non-debt tax shields, firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s volatility, asset systematic risk, asset unique risk, internal funds availability, asset structure, profitability, industry classification, and firm size. This study is concerned particularly on the relationship between capital structure and profitability. Most of the studies had concluded that capital structure measured by debt/equity ratio had an inverse relationship with profitability measured by Return on Investment (ROI). Professor Myers of MIT had written in 1995 that à ¢Ã¢â€š ¬Ã…“the strong negative correlation between profitability and financial leverageà ¢Ã¢â€š ¬? is one of the à ¢Ã¢â€š ¬Ã‹Å"most striking facts about corporate financingà ¢Ã¢â€š ¬? (p.303). It is worthy to mention here that the aforesaid studies were the most comprehensive ever carried out in the US. One significant research was conducted by Bradley, Jarrell and Rim (1984) using Ordinary Least Squares method to analyze the capital structure of 851 industrial firms over a period of 20 years (1962-81). They concluded that an optimal capital structure actually existed as proposed by finance theorists. Bradley, Jarrell and Kimà ¢Ã¢â€š ¬Ã¢â€ž ¢s findings were supported by El-Khouri in 1989 who studied a sample of 1,040 Companies in US from 27 different industries covering a period of 19 years (1968-86). El-Khourià ¢Ã¢â€š ¬Ã¢â€ž ¢s major findings were that there exists an optimal capital structure, and profitability was significantly but negatively related to capital structure. 3.5 Rajan and Zingalesà ¢Ã¢â€š ¬Ã¢â€ž ¢ Study Rajan and Zingales (1995), in their study of determinant of capital structure find that profitability is negatively or inversely related to gearing consistent with Toy et al. (1974), Kester (1986) and Titman and Wessles (1988). Given, however, that the analysis is effectively performed as an estimation of a reduced form, such a result masks the underlying demand and supply interaction which is likely to be taking place. More profitable firm will obviously need less borrowings, although on the supply-side such profitable firms would have better access to debt, and hence the demand for debt may be negatively related to profits. Most of such studies were conducted in US using local companies and hence represents financing and profitability relationship in US economy and might not be applicable in other countries around the globe. Some of the studies conducted in UK as well though changing business and economic environment and time period may have their impact on such capital structure and profitability relationship. Further as discussed earlier much attention was not given to one major aspect of the capital structure, which is the impact on the profitability and hence the value of the firm. So understanding the effect of capital structure on the profitability and hence the value of the firm in the current economic and business environment is the main motivation for this study. CHAPTER 3 RESERCH FRAMEWORK I intend to use two major sets of variables (Ratios) i.e. Debt and Profitability to ascertain the relationship between the capital structure and profitability. The first set includes Gearing ratios Debt/Equity Ratio and Debt Ratio. The other set includes profitability ratios Return on Equity, and Return on Assets. The variables will be analyzed using the descriptive/time-series Correlation and regression technique. 2.1 Data Sample The data used for the empirical analysis will be derived from Hemscott database contains balance sheet, profit and loss and certain Key Ratio information for FTSE 100 companies in UK. For the purposes of this dissertation, I expect to utilise this data to obtain the required variables for all non-financial companies. 2.2 The Model and Research Methodology The following model outlines the framework for research. It consist two major components i.e. the profitability of a firm as the dependent variables and the capital structure of a firm as the independent variables. The arrow pointing to the right indicated the expected direction of causality. However profitability and capital structure relationship is a two way relationship. DEBT RATIO ROE DEBT/EQUITYRATIO ROA The model gave the foundation for analysis which was to explain the relationship among the two main groups of variables. In as much as possible, variables will be selected on the basis of the literature being reviewed. Thus, while this study is expected to give exciting results, there will be direct ties to earlier studies although may reflect the changing requirements of the time. One prominent issue here is the direction of the causality in the model. This research is based on the notion that the capital structure being practised by a firm would affect its profitability. This particular cause-and-effect relationship had been proved in various studies as found in the literature being reviewed. Though it should be kept in mind that there were a number of researchers who had argued that it was profitability which would influence the capital structure (Chudson 1945, Lamothe 1982, Bowen, Daley and Huber 1982). However, it is not within the scope of this study to determine the direction of causality in this particular relationship but rather to focus on the significance of such a relationship. 2.3 Variables In the first instance, great care was taken to define the dependent and independent variables to be used in the descriptive, co variance and regression analysis. As there are several alternative measures of profitability and gearing, only relevant measures are chosen for this cross-sectional analysis. Dependent Variable Profitability is dependent variable in this analysis and two measures of profitability employed in this analysis are Return on Equity (ROE) and Return on Assets (ROA). ROE is the return on equity and is measured as earnings before tax (EBT) divided by ownersà ¢Ã¢â€š ¬Ã¢â€ž ¢ capital or equity. ROE = EBT/EQUITY ROA is return on assets and is measured as earnings before interest and tax divided by total assets (Titman and Wessels, 1998; Fama and French, 2002 and Flannery and Rangan, 2006). The ratio of earnings before interest and tax (EBIT), to the book value of total assets (TA) ROA = EBITDA/TA Independent Variables Gearing Ratio represents capital structure. Therefore, in order to examine the sensitivity or otherwise of their cross-sectional results to the profitability following two ratios are used in this analysis and defined as: Debt to Total Assets: This is a simple ratio of total debt to total assets DEBT RATIO= TD/ TA Debt to Equity Capital: This is the ratio of total debt to capital, with the capital calculated as total debt plus equity, including preference shares. DEBT/EQUITY RATIO = TD / (TD + ECR + PS) PS the book value of preference shares. Research Plan and Implementation Schedule Research work starts from week beginning from October 4, 2010 and is expected to complete in 10 weeks time. The work is scheduled as follows. Research Plan Week Star Date : 04-10-2010 Week 1 2 3 4 5 6 7 8 9 10 Background reading and literature review X X Research design and plan X Choice of methodology X Gathering data X X X Data analysis and refine X X X Writing up draft X X X Editing final document X X Produce final document X Document passed to supervisor to read X Resources I intend to use following resources Hemscott database for data collection. MS Excel for analysing data. University of Wales online library, internet, and some books on finance.

Inquire At Amos Giles Distillery Essay - 1756 Words

Inquire at Amos Giles Distillery is a gripping tale that first appeared in The Liberator on February 21, 1835. The Liberator was a notorious anti-slavery newspaper, founded by William Lloyd Garrison and Isaac Knapp in 1831. In the aforementioned story, Deacon Amos Giles is portrayed as a wicked man who horribly mistreats his workers, paying them extremely meager wages and going so far as to lock them inside his distillery as they labored. The relationship between Deacon Giles behavior and the abolitionist nature of The Liberator is hardly a coincidence – the tale is clearly made to serve the newspaper s agenda, as I intend to make clear. Before delving into the misdeeds of Deacon Giles, I feel it necessary to establish the background of the text in which the story was published. Right from its very first issue, The Liberator did not mince words regarding its goal, which was the â€Å"immediate and complete emancipation of all slaves† in the United States. William Lloyd Garrison, co-publisher of the newspaper, made this agenda crystal clear in the aforementioned first issue. In an open letter to the public, Garrison references The Declaration of Independence and its position on the unalienable rights and equality of men, finally ending his speech with the famously powerful words: â€Å"I am in earnest – I will not equivocate – I will not excuse – I will not retreat a single inch – AND I WILL BE HEARD.† Although the majority of the paper s readers were black in its early stages,Show MoreRelatedInquire At Amos Giles Distillery Essay1754 Words   |  8 PagesPage 1 Inquire at Amos Giles Distillery is a gripping tale that first appeared in The Liberator on February 21, 1835. The Liberator was a prominent anti-slavery newspaper, founded by William Lloyd Garrison and Isaac Knapp in 1831. In the short story, Deacon Amos Giles is portrayed as a wicked man who horribly mistreats his workers, paying them extremely meager wages and going so far as to lock them inside his distillery as they labored. The relationship between Deacon Giles behavior and the abolitionist

William Faulkner s A Rose For Emily - 1682 Words

Lisa Lyons Professor Amy Green Writing about Literature COM1102 Oct. 06, 2015 William Faulkner s A Rose for Emily is a short story that has also been adapted into a short film; both have been largely debated. Faulkner’s lack of a normal chronology and situation-triggered memories generates a story that has many understandings among its readers, but surprises everyone at the end. When asked about the title of his story, Faulkner said, [The title] was an allegorical title; the meaning was, here was a woman who had had a tragedy, an irrevocable tragedy and nothing could be done about it, and I pitied her and this was a salute . . . to a woman you would hand a rose. (Faulkner, William 1966 ;) He gave a humble explanation, for such a complex story. Death and transformation are the main theme in Faulkner’s short story, being a sign of the crumbling of the Old South after their military defeat by the North, as Emily’s suggested necrophilia echoes the desire to hang on to the past and its traditions. Through flashbacks and foreshadowing, Faulkner addresses the struggle of traditional versus progress in Jefferson, the south being a region bound by history and tradition, class and social influence. Emily represents to generations before and after her old South nobility. Even the town s people are having a hard time letting go of old southern societal ideals. Their obsession with Emily and her family is a sign of society s way of holding on to these old values. The narratorShow MoreRelatedWilliam Faulkner s A Rose For Emily951 Words   |  4 Pagesliterary Response to â€Å"A Rose for Emily† â€Å"A Rose for Emily† by William Faulkner was published in 1930. This short story is set in an old southern town. I believe that this and several other combinations of events are what made the main character Miss Emily go insane. Miss Emily was an old school southern woman trapped in a modernizing society. She tried desperately to keep to her old ways, but the changes that happened around her were inevitable. This made me feel like something was going to goRead MoreWilliam Faulkner s A Rose For Emily1316 Words   |  6 Pagesminuscule detail in the writing. In order to fully enjoy William Faulkner’s â€Å"A Rose for Emily† readers must do the latter. Faulkner is a witty writer; some symbols are less obvious than others in his writing. To fully appreciate and obtain full meaning of the text readers must pay attention to his symbols and how they contribute to the greater theme. William Faulkner uses symbolization in â€Å"A Rose for Emily† to develop a theme of personal struggle. Emily faces many personal struggles: her relationship withRead MoreWilliam Faulkner s A Rose For Emily1181 Words   |  5 Pages Is William Faulkner s A Rose for Emily iconic American literature? Faulkner uses setting, theme and plot to show the ways â€Å"A Rose for Emily† is an iconic American literature. Faulkner saw the Forum magazine with his short story he wrote, â€Å"A Rose for Emily† and found out that was his first national publication. The Mississippi Writers Page says, â€Å"The man himself never stood taller than five feet, six inches tall, but in the realm of American literature, William Faulkner is a giant† (MWP). Read MoreWilliam Faulkner s A Rose For Emily1528 Words   |  7 Pagespoint of view is A Rose for Emily told? Why? In William Faulkner s short story A Rose for Emily the reader is given the account of an old woman who is rejected by society. The reader is acquainted with Miss Emily Grierson by a spectator, somebody who is not Miss Emily, but rather part of the town that rejects her. The storyteller has a somewhat omniscient perspective, knowing more than the normal town s individual, however not all that matters there is to think about Miss Emily. The storytellerRead MoreWilliam Faulkner s A Rose For Emily1801 Words   |  8 Pages William Faulkner is known for his many short stories, however, many has wondered what has influenced him in writing these stories. Like his well known, most famous short story â€Å"A Rose for Emily†, which has always been compared to â€Å"Barn Burning†, one of Faulkner’s other short story. It only make sense to compare them two together because these two stories has may similarities , whether it may be in setting , characters or style they favor each other . Nevertheless they also have many differencesRead MoreWilliam Faulkner s A Rose For Emily957 Words   |  4 PagesBereavement While a â€Å"Rose for Emily† by William Faulkner and â€Å"A Good Man is Hard to Find† by Flannery O’Connor share the common themes of unexpected death and the old south, the murders found in each story are vastly different. Both stories tell of strong female protagonists who don’t cope well with change and both foreshadow death right from the beginning, but the murderers themselves come from completely different worlds. Emily Grierson of â€Å"A Rose for Emily and the grandmother in â€Å"ARead MoreWilliam Faulkner s A Rose For Emily879 Words   |  4 Pagesare both similar due to how these emotions cause a human to act irrationally. The lone woman in A Rose for Emily and the cashier, Sammy, in A P both portrayed a greater sense of hate which overcame their love. We as humans, capable of powerful emotion typically act too quickly to even understand the consequences of our actions. One prime example is portrayed in William Faulkner’s A Rose for Emily, Emily loved Homer tremendously, however he did not feel the same way †he liked men, and it was knownRead MoreWilliam Faulkner s A Rose For Emily854 Words   |  4 Pages Literary Response to â€Å"A Rose for Emily† â€Å"A Rose for Emily† by William Faulkner was published in 1930. This short story is set in an old southern town. I believe that this and several other combinations of events are what made the main character Miss Emily go insane. Miss Emily was a old school southern woman trapped in a modernizing society. She tried desperately to try and keep to her old ways, but the changes were inevitable. This made me feel like something was going to go wrong very early inRead MoreWilliam Faulkner s A Rose For Emily1810 Words   |  8 Pages William Faulkner is one amazing writing ,who is known for his many short stories .However, many has wondered what has influenced him in writing these stories . Like his well known, most famous short story â€Å"A Rose for Emily†, which has always been compared to â€Å"Barn Burning†, one of Faulkner’s other short story. It only make sense to compare them two together because these two stories has may similarities , whether it may be in setting , characters or style they favor each other . NeverthelessRead MoreWilliam Faulkner s A Of The Sky And A Rose For Emily1540 Words   |  7 Pagesgeneral has affected all societies in all time periods, and reading is more than just an everyday task. These two authors affected society in their time, with their reappraising stories: A Horseman In The Sky and A Rose For Emily. However, William Faulkner (author of A Rose For Emily) and Ambrose Bierce (author of A Horseman In The Sky) have different views and affects on so ciety by when the particular story was published, the use of figurative language, and different genres. Back in the time of

Com 200 Foundations of Interpersonal Communication Essay

Self-Assessment Communication Style COM 200 Foundations of Interpersonal Communication University Of Phoenix December 17, 2012 Abstract The purpose of this paper is to discuss my results from the â€Å"What’s My Face-to Face Communication Style?† self assessment. The research conducted with the use of the Peer Perception Survey shall allow the author to interpret the scores given by friends and acquaintances. This will enable a thorough examination of how other individuals observe the author, and also how the author perceives herself. Based upon these observations the author will determine an appropriate strategy for improving self esteem and interpersonal communication. The author will address how others form perceptions of their†¦show more content†¦Self confident | 1. Self confident | 1. Self confident | 2. Positive | 2. Positive | 2. Positive | 3. Likes most people | 3. Likes most people | 3. Likes most people | 4. Friendly | 4. Friendly | 4. Friendly | 5. Open | 5. Closed | 5. Closed | 6. Helpful | 6. Helpful | 6. Helpful | 7. Happy | 7. Unhappy | 7. Unhappy | 8. Reliable | 8. Reliable | 8. Reliable | 9. Professional | 9. Professional | 9. Professional | 10. Honest | 10. Honest | 10. Honest | 11. Organized | 11. Disorganized | 11. Organized | 12. Proactive | 12. Proactive | 12. Proactive | 13. Boring | 13. Boring | 13. Boring | 14. Intelligent | 14. Intelligent | 14. Intelligent | 15. Energetic | 15. Energetic | 15. Energetic | 16. Solution Seeking | 16. Solution Seeking | 16. Solution Seeking | 17. Popular | 17. Popular | 17. Popular | 18. Open to Change | 18. Open to Change | 18. Open to Change | 19. Trusted | 19. Trusted | 19. Trusted | 20. Independent | 20. Independent | 20. Independent | 21. Genuine | 21. Genuine | 21. Genuine | 22. Has a Lack of common Sense | 22. Has a Lack of common Sense | 22. Common Sense | 23. Believable | 23. Believable | 23. Believable | 24. Successful | 24. Successful | 24. Successful | 25. Progressive | 25. Progressive | 25. Progressive | 26. Interested | 26. Interested | 26. Interested | 27. Accepting | 27. Accepting | 27. Accepting | 28. Promise | 28. Promise | 28. Promise | 29. Diligent | 29.Show MoreRelatedMasking Poor Communication Essay682 Words   |  3 PagesLanita N. Clark Masking Poor Communication COM 200 Mrs. Mary A. Witt August 22, 2011 The article â€Å"Masking Poor Communication† discussed how miscommunication is misunderstood and perceived as something. What someone is saying can easily be taken for something else. Everyone has their own perception. This can have a negative impact on the people who are close to you. In the article it stated that â€Å"people commonly believe that they communicate better with close friends than strangersRead MoreEssay on Business Communication Quarterly 2013 F5948 Words   |  24 Pagesï » ¿Business Communication Quarterly http://bcq.sagepub.com/ Intercultural Communication Apprehension and Emotional Intelligence in Higher Education: Preparing Business Students for Career Success Lisa T. Fall, Stephanie Kelly, Patrick MacDonald, Charles Primm and Whitney Holmes Business Communication Quarterly 2013 76: 412 originally published online 18 September 2013 DOI: 10.1177/1080569913501861 The online version of this article can be found at: http://bcq.sagepub.com/content/76/4/412Read MoreVenture Capital and Tech Coast Angels9915 Words   |  40 Pagesassuming a $4.5 million postfinancin valuation. Shortly there ed ny on, n ng eafter, the CEO unexpect tedly received a competin term sheet from Foundation Capital a venture c d ng l, capital (VC) firm where his good frie end and form business school class mer s smate Charle Moldow w a es was partner. The VC’s term sheet offered the com mpany $4.0 m million in fun nding, assumi a $7.65 m ing million postfi inancing valu uation. Moldo structured the proposed deal so that DermaCareRead MoreDermaCare10958 Words   |  44 Pagescompan ny $1.5 millio on, assuming a $4.5 million n postfinancin ng valuation. Shortly thereeafter, the CEO unexpecttedly received d a competin ng term sheet from Foundation Capitall, a venture capital c (VC) firm where his good frieend and form mer businesss school classsmate Charlees Moldow was w a partner. The VC’s term sheet offered the com mpany $4.0 million m in fun nding, assumiing a $7.65 million m postfiinancing valu uation. Moldo ow structured d the proposed d deal so thatt DermaCare would wRead MoreOperations Management23559 Words   |  95 PagesTransformation Process Physical: as in manufacturing operations Locational: as in transportation or warehouse operations Exchange: as in retail operations Physiological: as in health care Psychological: as in entertainment Informational: as in communication 1 -8 Operations as a Transformation Process INPUT †¢Material †¢Machines †¢Labor †¢Management †¢Capital TRANSFORMATION PROCESS OUTPUT †¢Goods †¢Services Feedback Requirements 1 -9 Operations Function Operations Marketing Finance andRead MoreOrganization Restructuring26680 Words   |  107 Pageslittle chance of quality thinking. 3. Break down all barriers between departments: In most centralized organizations there are definite lines of communications that must be followed and a division of labor according to departments. In order to implement a TQM program requires that the organization move toward a de-centralized system in which communication between departments is frequent and ongoing. In many organizations, this meant the creation of work teams and quality circles in which each employee’sRead MoreAn Assessment of the Impact of Corporate Social Responsibility on Nigerian Society: the Examples of Banking and Communication Industries18990 Words   |  76 Pagesonline http://www.universalresearchjournals.org/ujmbr Copyright  © 2012 Transnational Research Journals Full Length Research Paper An assessment of the impact of corporate social responsibility on Nigerian society: The examples of banking and communication industries Adeyanju, Olanrewaju David Department of Financial Studies Redeemer’s University, km 46, Lagos Ibadan Expressway Mowe, Ogun State E-mail: davfol@yahoo.com, Tel No.: 07037794073 Accepted 30 January, 2012 In the Nigerian societyRead MoreComputer and Internet in Education13526 Words   |  55 PagesUniversity of California, Los Angeles. Elisheva F. Gross, currently a Ph.D. candidate at the University of California, Los Angeles, was founding creative director of Plug In! Teen Talk on America Online, a nonprofit enterprise dedicated to developing communication, technical, and creative skills among atrisk teens. Abstract The increasing amount of time children are spending on computers at home and school has raised questions about how the use of computer technology may make a difference in their lives—fromRead MoreManaging Information Technology (7th Edition)239873 Words   |  960 PagesCASE Tools 51 52 54 Communications Interface Software Utility Programs 54 54 The Changing Nature of Software 55 The Information Technology Industry 55 Review Questions 56 †¢ Discussion Questions 57 †¢ Bibliography 58 Chapter 3 Telecommunications and Networking The Need for Networking 61 Sharing of Technology Resources Sharing of Data 60 61 61 Distributed Data Processing and Client/Server Systems Enhanced Communications 62 62 Marketing OutreachRead MoreDemystifying Six Sigma - a Company-Wide Approach to Continuous Improvement22857 Words   |  92 Pagesthinks and operates in terms of complete customer satisfaction. How to build a workforce that is engaged and committed to the success of the company. 1 2 SECTION ONE 1 August 1965 0115 GMT North Atlantic off the coast of Norway. Depth 200 feet. Speed six knots. Heading 010. At the height of the Cold War, the American submarine Sam Houston is on patrol carrying sixteen nuclear missiles with multiple warheads. Its role is as a determent to Russia initiating a first-strike attack. The

Flappers Essay - 1021 Words

Flapper Movement You have more knowledge about the Roaring 20s and the people than you think you do. Coco Chanel, a fashion designer contributing clothes impacting the era. Clara Bow confidently embraced her sexuality though she was surrounded by controversy. Norma Talmadge was a successful movie star and film producer that is a department mostly run by men. These women were all flappers and contributed to feminist movement during the Roaring 20s. As this became the Jazz Age, flappers became a name for women after WW1, as the women wanted to be free and have fun with themselves. They wore makeup, started wearing clothes out of the ordinary, smoked, danced to modern jazz music, and lived in the moment causing controversy around that time.†¦show more content†¦Flappers didn’t feel the weight around their neck as they didn’t have their husband or any man tell them what to do or what to wear. They wanted to live a free and youthful life and they accomplished that. One of the reason s for that were for their clothes. What the Flappers also contributed to women society were that they created fashion statements that were out of the norm. Women’s fashion, before the Roaring 20s, was known to be conservative and very gracious. The women wanted to change that and to embody what they stand for. According to St. James Encyclopedia of Popular Culture, â€Å"The flapper ideal, along with the look, first became popular with chic young moderns, then with a larger body of American women. The flapper was remarkable identifiable† (Hatton). Not only did the Flappers wanted to exemplify the fun-youthful and daring self, they wanted to show they didn’t want to look like a conservative and a housewife and add a little boyish flair. They flatten their chest and cut their hair short but more into a bob. They also wore a lot more makeup adding the red lipstick and black eyeliner. To go with the flat chest, shorter hair, and the makeup they wore shorter skirts and tight bands around their heads and the dresses also made for them to move freely around. â€Å"...they danced-not in the old style, but in the new mode of inspired by jazz music† (Hatton). They made their dresses short and a more freely because in theShow MoreRelated Flappers Essay771 Words   |  4 PagesFlappers War is often followed by change; World War I is no exception. World War I is often labeled the cause for the rise of a feminine revolution-â€Å"the flapper†. Before the term â€Å"flapper† began to describe the â€Å"young independently-minded woman of the early Twenties† (Mowry 173), the definition that is most prominent today, it had a 300-year long history. The young woman of the 1920’s was new and rebellious. In her appearance and demeanor, she broke the social constructs of her society. Read MoreEssay about Freedom of the Flapper1618 Words   |  7 Pagesassociated with the life of a flapper. While these descriptions are accurate, they do not inform people of the advantages and gains flappers made for the female gender. The flapper embodied the idea of freedom from the usual duties of a young female in the 1920s. These women were no longer tied down with the expectation that they immediately become a wife and mother, as well as being conservative and modest. By diving into a look at the fashion, music, and lifestyle of the flapper during the 1920s it willRead MoreEssay about Flappers: The Untraditional Women of the 1920s682 Words   |  3 Pagestraditional. These women became known as flappers and impacted the post-war society. People in the 1920’s couldn’t make up their minds about flappers. Some were against them and some were with them. Therefore, some people in the 1920’s loved and idolized flappers, I on the other hand, believed that they were a disgrace to society. These women broke many rules leading young women to rebel against their families. Some people hated this idea of the Flapper and they blamed the war for these women’sRead MoreGibson Girl versus Flapper Girl Essay562 Words   |  3 PagesGibson Girl versus Flapper Girl During the roaring twenty’s a new type of women arose, a women who rebelled against society’s standards for women, the Flapper Girl. The new Flapper Girl shocked society by setting a new type of women beauty that expressed their independence just like men. Meanwhile the Gibson Girl was the ideal figurehead for female beauty, they were often shown as fragile and vulnerable. Flapper Girls astonished the world by pushing the limits of the average Gibson Girl settingRead MoreFlappers Essay931 Words   |  4 Pagesthemselves and making points to men that women can do just the same as them, and that women should be equal to men and have the same rights. That’s where flappers came from. Flappers were basically woman who stood out and did what they wanted. Womens rights were changed drastically because of flappers, now women are more equal to men. Flappers had a large impact on the American culture going from woman’s right, music and their fashion.   Ã‚     Ã‚  Ã‚     Ã‚  Ã‚   After WWI many men didn’t come back. After the warRead MoreFlappers in the 1920s Essay658 Words   |  3 Pages Flappers in the 1920s where the girls and women that dressed less modestly. They also disobeyed the rules that most women and girls followed. They did what others would not ever think of doing in this time period. From coast to coast people were reading the exploits of a new type of woman called flapper. Prior to World War 1 Victorian ideals still dictated the behavior of American women and girls. Frederick Lewis Allen describes the traditional role of women. Women were the guardians of moralityRead MoreThe Life and Times of a Philosopher of Flappers Essay696 Words   |  3 PagesImitating Life in Fitzgeralds Novels. University of South Carolina. N.p., n.d. Web. 12 Nov. 2013. †¢ F. Scott Fitzgerald - Biography and Works. Search Texts, Read Online. Discuss. The Literature Network: Online classic literature, poems, and quotes. Essays Summaries. N.p., n.d. Web. 12 Nov. 2013. †¢ F. Scott Fitzgerald Biography. N.p., Web. 12 Nov. 2013. Read More Flappers and Mothers: New Women in the 1920s Essay1466 Words   |  6 PagesFlappers and Mothers: New Women in the 1920s Frederick Lewis Allen, in his famous chronicle of the 1920s Only Yesterday, contended that women’s â€Å"growing independence† had accelerated a â€Å"revolution in manners and morals† in American society (95). The 1920s did bring significant changes to the lives of American women. World War I, industrialization, suffrage, urbanization, and birth control increased women’s economic, political, and sexual freedom. However, with these advances cameRead MoreEssay Writing9260 Words   |  38 PagesThe Essay Writing Process In Greek legend, the goddess of wisdom, Athena, was born fully armed from the head of Zeus. Unfortunately, this is the only recorded instance of instant wisdom. Especially in the medium of the written word, the communication of complex ideas is a process—a process that requires thinking and rethinking, working and reworking. The student who claims to have dashed off an A essay at one in the morning the night before it was due is either a liar or a genius. ThisRead MoreAnalysis Of The Right To Ones Body By Margaret Sanger911 Words   |  4 PagesJake Siford History 1152 Professor Graves 4 November 2017 Primary Source Review #3 Margret Sanger, writer of the essay â€Å"The Right to One’s Body† will be the author for this primary review. Sanger, as described by biography.com, was â€Å"†¦ an early feminist and women’s rights activist who coined the term ‘birth control’ and worked towards its legalization† (â€Å"Margaret Sanger†). Margret was also responsible for the creation of the first planned parenthood center, and later was a founding member of the

Basic Flower Arrangement free essay sample

If   you are used to working with fresh flowers, it will take some time to get used to all the possibilities and limitations when using silks. Though so similar in use, artificial flowers are an entirely different art form. The line, focal, filler technique is an excellent way to design artificial and dried flower arrangements. Horizontal Arrangements 1. Using a relatively shallow container, anchor foam with a lot of glue or use anchor pins, and position sprays of line flowers to establish the shape of the design. . Insert focal flowers in the middle so they gently droop over the lip of the container on both sides, reach towards the line material and extend on either side of the middle. Leave room for filler flowers. 3. Fill in and around focal area with filler flowers and foliage. Vertical Arrangements 1. Wedge or secure foam in a vase with hot glue. Cut the stems of the tallest flowers or leaves to reach three or four times the height of the vase. We will write a custom essay sample on Basic Flower Arrangement or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 2. Place the focal flowers vertically within the diameter of the vase. . Fill in the areas as needed with filler flowers. Triangular Arrangements 1. Secure floral foam. Determine the vertical height and horizontal width with the smallest line flowers and/or leaves. Make the height higher than the width. 2. Position the largest focal flowers in the heart of the arrangement and slightly lower to give weight and balance. 3. Fill in with the filler flowers and foliage keeping within the triangular shape. Crescent Arrangements 1. Secure foam in container. Determine length of crescent and insert curved line flowers or leaves to follow the crescent form. Angle the shape to balance in the container. 2. Insert the focal flowers fairly low in the bowl to achieve balance, stability and depth. 3. Fill in around the focal flowers with smaller flowers and foliage. Place wisps of filler flowers that gracefully taper off the ends. Oval arrangements 1. Secure the floral foam. Determine the height with line flowers, then frame in the outer edges of the oval shape with light colored flowers and foliage. 2. Place the largest, strongest or brightest flowers in the focal area. 3. Fill in around the larger flowers and leaves with the filler flowers. Minimal Arrangements 1. Adhere foam to container. Insert vertical line flowers to determine the height, and secure the horizontal line flowers to give the basic outline of the arrangement. 2. Place the focal flowers. 3. Fill in with filler flowers as needed. The lazy S or Hogarths Curve 1. Anchor the foam securely. Bend the stems gently into graceful curves and insert them in place so they balance. . Add the focal flowers following the lines of the upper and lower curves. 3. Cluster filler blossoms and foliage around the central flowers maintaining the rhythm of the ‘S’. Free Standing Arrangements 1. Fill a shallow container with foam that extends one inch over the top. Secure the foam with hot glue, floral clay or floral tape. Define the shape of the design with the line flowers and leaves. 2. Place the focal flowers and leaves, t urning the vase as you go so all the sides are even. 3. Add filler flowers to integrate the design.