Claude GuldnerS free essay sample

Claude Guldner? S # 8220 ; The Emerging Family # 8221 ; Essay, Research Paper Claude Guldner # 8217 ; s exposition The Emerging Family, gives a top of the line reappraisal of exercise one in the perusing selection of, Families in Canadian Society. All through the two substance of the readings I was astonished to perceive how they in like manner supplemented each other, both talk about issues of the designed development of the family unit life cadence, each piece great as the customary family unit. With the cognizance I have picked up from my surveies, I will talk how Claude Guldner # 8217 ; s attempt gives comparative signifier, and plans to that of exercise one. I will other than gracefully notice from the two signifiers of Hagiographas, so all variances of my surveies agree precisely with Claude # 8217 ; s attempt, and exercise one # 8217 ; s stuff. Through broadened enquiry, I have sorted out three back uping focuses from the two readings. Each point corresponds with each other ; they incorporate, What is family unit, Family frameworks hypothesis, and Developmental hypothesis. Every one of the three of these focuses all together give a precise and formal reappraisal of the stuff that will be investigated. In finishing my evaluation of the two beginnings, I will see that there is earnest basic comprehension between the two, and that they reflect each other essentially with their worry of the developing family unit, and it # 8217 ; s periods of designed development. The first of three focuses that I will present will be # 8220 ; What is Family # 8221 ; . There are numerous definitions with regards to what family unit is, some accept that children are the essential elements for the use of the term family, and others only vary. In the understanding decision, of The Emerging Family, they note how # 8220 ; current definitions get us off from the hypothetical record of the family unit that Eichler ( 1988 ) call # 8217 ; s # 8220 ; huge # 8221 ; . # 8221 ; The term huge intends to consider all to be as fundamentally the equivalent in creating, development and guide, to a # 8220 ; multidimensional # 8221 ; hypothetical record ( Eichler: 1988 ) . The multidimensional hypothetical record includes a few components of familial connection. Each examines six of these measurements: procreative, socialization, sexual, private, financial, and passionate. It is non important for these measurements to be available, or these days at a similar quality, so as to adv ise a definition regarding the family unit. Through my reappraisal of exercise one I had the option to proceed onward the acknowledgment that there is more than one meaning of family unit. The class characterizes family through the multidimensional hypothetical record, and expresses the numerous practical signifiers families are known by ; they incorporate, Biological family unit: individuals who are connected, the Economic family unit: related individuals sharing a family, and the Psychological family: genuinely recognized gathering. Different definitions incorporate the Census family/family, the Nuclear family unit, and the Extended or supra family ( Guldner ) . Between the two understanding beginnings, Claude Guldner # 8217 ; s attempt and the stuff in exercise one, plainly both hold numerous comparable belongingss as to just # 8220 ; what family unit is # 8221 ; . Through cautious investigation it is apparent that both the paper and the stuff in exercise one part practically ide ntical truth and ground, both note how the rising family unit is base on a multidimensional hypothetical record, and how there are a few measurements included. As great the two beginnings require that we move from an essentialist meaning of family unit, and spread out to a constructivist position ( Guldner ) , expecting that we take an interest in the structure of our universes and that our positions modification with our experience. Constructivist accepting empowers us to make family units of pick. The second point that I am venturing out to introduce is # 8220 ; Family frameworks hypothesis # 8221 ; . The expectation of this hypothesis is to gracefully us with a model for seeing how families work at the six periods of the family life musicality. Since family units are so assorted, and in light of the fact that the individuals who study the family unit take such a large number of better places, there is no 1 hypothesis or model that suits everybody. With notice to the article, The rising family unit, we discover that frameworks hypothesis has empowered us to recognize that at one degree all families are in like manner. # 8220 ; They all have developments ( directed structures through which individuals identify with each other ) ; maps ( the stairss families take to help through their purposes ) ; and tasks ( the specific exercises a family embraces in its # 8217 ; system of convey throughing maps ) # 8221 ; ( Guldner ) . Through these developments is the place each family build s up its # 8217 ; ain particular types of collaboration ( Guldner ) . Know let # 8217 ; s resort to the stuff in exercise one ; each framework is com presented of a sub-framework, so as to comprehend the family unit frameworks hypothesis, you should see every one of the sub-ideas. They are as per the following, honesty, progression, limits, guidelines, control, and causality, every one of these develops hold an incentive towards the family frameworks hypothesis in footings of adjustment and grouped stages we travel through in the family lifecycle. There are a figure of basic issues to see in attempting to comprehend the nature of family unit activity, and between the two beginnings of origin in exercise one and the exposition I have seen a significant co-appointment in the closeness of their work, and ground. Both concur that the â€Å" family frameworks thought has empowered us to recognize that it is non the terminal of the family unit however just its’ reorganization† , and â€Å"the key to examining the family unit is to take a gander at how they do their maps according to their impossible to miss structure† ( Marshall Fine, 1990 ) . Through my trepidation of the Family frameworks hypothesis, I have reasoned that both the exposition and stuff in exercise one give a top notch reappraisal of each other. In all cases their work had some level of decent variety, anyway it was straight and reporter. The third and finishing up point to introduce is Developmental hypothesis ( Family life mood ) . As you found in point three, the family unit is an intricate framework. Adding to this unpredictability is the way that the family framework keeps on adjusting as the family unit travels through grouped periods of the family life cadence. In parcel four of exercise one, we will take notice to the hypothetical record of the family life beat, and the six stages to be broke down. This decision depicts Family life beat or Developmental hypothesis, and utilizations modifying family unit frameworks as its balance. As such the Systems hypothesis and Developmental hypothesis combination and bolster each other in their assault to getting family units. There are six stages to be investigated, The youthful individual ( between family units ) , The newly hitched support, The family with juvenile children, The family unit youngster children, propelling, and The family unit in ulterior life ( Carter/Mc Goldrick ) . Each stage will ; investigate the particular endeavor, articulation at included verifiable and social positions, look at chosen gives that identify with the stages, and foresee from now on inclinations. By taking notice to the exposition The rising family, we can see that all through its # 8217 ; substance there are numerous develops in which relate near that of the stuff shrouded in exercise one. Exercise one surveies the multidimensional hypothetical record, this is extremely of import since its # 8217 ; basicss are basic to the Developmental hypothesis, this hypothetical record furnishes us with our familial decent variety. Another issue that is of import is the # 8220 ; work cycling # 8221 ; , as progression on today # 8217 ; s developing family unit we have to cognize that # 8220 ; whenever chance benefits itself, both work powers and grown-up females are equipped for work cycling to run into all family needs # 8221 ; ( Guldner ) . I could go on everlastingly looki ng into, in any case now I imagine that it is truly certain that the article composed by Claude Guldner, is in actuality practically identical from various perspectives to that of the stuff that we have perused in this exercise. With cautious thought and unshakable reappraisal, I feel that the two readings that I have been dissecting truly show contrasting through numerous signifiers and considerations they have kept up, we live by a cadence, an arrangement of multifaceted nature, movement and developing, its # 8217 ; what makes us the rising family unit. The develop of family life cadence stages has made an of import part, all through clasp we have advanced and adjusted to our current period, we experience numerous basic stages that persistently take us along this ever-enduring mood. The three focuses that I shrouded in this paper, What is family unit, Family frameworks hypothesis, and Developmental hypothesis, have given emphatically in back uping my place all through this article. Each has its # 8217 ; ain characterized work, however coincidently arrange together to do feeling of this entire Emerging family unit aspect. My place in this situation is to flexibly grounds of how Claude Guldner # 8217 ; s attempt gives comparable signifier, and means to that of exercise one, as great I am to gracefully make reference to from the two signifiers of Hagiographas so all vacillations of my surveies agree precisely with each other. It is important that we be perceptive of the capacities we play in today # 8217 ; s stage, as clasp goes on our lives change directly before our eyes, we are trapped in the focal point of the mood of life and we should be insightful of these adjustments. What we contribute into, and how we treat our framework will affect all of us.

Iono Essay Example For Students

Iono Essay The Metis were incompletely french and halfway indian. Their pioneer wascalled Louis riel. Following the Union of the Hudsons Bay Company and the North West Company in 1821, exchanging had been redesigned so as to lessen costs. Since there was no longer rivalry in the hide exchange, it was pointless to have at least two posts serving a solitary exchanging locale. Thus, a few posts had been shut and the quantity of detachments decreased. This redesign had prompted some joblessness amoung Metis who for quite a long time had been working in the hide exchange. The Hudson Bay Company had endeavored to help these men by urging them to take part in cultivating in what is currently South Manitoba. A couple of families take to farming, however the vast majority of the metis thought that it was troublesome. To them, the fervor and the experience of the wild ox chase held more intrigue than cultivating. Several Metis were substance to win a living by chasing wild ox, making pemmican or discover ing work as cargo drivers. Sooner or later Canada purchased Rupertsland from Hudson Bay Company. At the point when the Metis crowd this they were frightened. They dreaded their religion,their language, their territories and their old, free way of* life. They had known for quite a while that Canada was caught up with developing a pilgrims roadway from Lake Superior to the Red River. The circumstance became tense assessors were sent into the progression of pioneers, and it was viewed as a shrewd move to have the looking over well under route before settlement started decisively. It was chosen to utilize a framework or land overview like that utilized in the western piece of the United States. Townships were to be isolated into thirty-six segments, each containing one square mile or 640 sections of land. The segments were then to be partitioned into, the quarter-area was believed to be sufficient land for every family settling in the North West. (A fascinating part of the overview framework was the arrangement of the setting asside two segments in every township for the future help of instruction. The plan to sell these segments sometime in the not too distant future and utilize the cash for the development of schools.)When the study started, rubbing occured in those zones where the french specking Metis had settled along the waterway, possessing long tight strips in the way basic in New France. Endeavors were made by the assessors to abstain from upsetting the example, yet now and again the study lines crossed the limited property, driving the Metis to accept the their territory was being detracted from them. Louis Riel, Mon April 5, 92Louis Riel was the pioneer of the Metis. He was a dark whiskery, attractive youngster, the child of the pioneer of a minor Metis revolt in 1849 against the Hudsons Bay Company. Conceived in the red River area in 1944, Riel had been picked as a potential contender for the ministry and had stidied at the Jesuit College de Montreal. Nonetheless, he neglected to finish his strict investigations and came back to the Red River in 1868, searching for business. His forces of expert articulation and his hot-tempered nature before long made him a frank defenter of the Metis.

Research survey Coursework Example | Topics and Well Written Essays - 3000 words

Research review - Coursework Example There are a lot of digital wrongdoing that can be commited utilizing the PC or with the guide of a PC. The most suitable approach to see it in detail is distinguishing them by the sorts and level of digital attacks.Cyber assaults are a conscious or inadvertent unapproved task, which can't be kept away from or is in avoidable that that is equipped for causing an idea on the internet assets. The extent of digital assault is extends from equipment, programming, information that is put away, information in travel, individuals, archives and other equipment required like printer cartridges. Extent of the issue The various sorts of assault that add up to digital wrongdoing and are burden to digital security are keylogging and spyware. This is a malware that is worked to illicitly get, track and square the privilege of a client to gain admittance to the framework. A case of this assault is the place somebody or an individual attempts to sign on to the framework or a site like an email accoun t yet the framework or the site neglects to validate the client. To forestall this framework managers ought to set up a component where if the client objections of such issue the framework should provoke the client by posing a few inquiries identifying with the record. The subsequent assault is indirect access or order/control. These are weapons that give remote access that are made to redirect the usefulness of the framework. The other assault is SQL infusion. This is a one of a kind assault that objectives the pages of the framework application. It chops down the correspondence between the database and the framework application interface. This assault is regular in association where framework usage is occurring. A model is where an aggressor modifies the name of the database and henceforth disengages it from the UI. The best measure that can be utilized to control this is by constraining the quantity of the individuals who has the privilege to control the database enacts and furth ermore the discipline that person that utilizes a PC to genuinely hurt someone else or attempts to submit a crime with a guide of a PC is made serious. There was additionally an arrangement of broad security to media bunch that offered hand to the police while completing the examination while the defenseless assaults that were visit were boycotted so greater security concern were benefited in those regions (Middleton, 2005). Another assault that is exceptionally wild is maltreatment of framework get to rights. This sort of assault is generally executed by the representatives in an organization in and expectation of retribution or harm. Distinguishing such issue is unwieldy since the interruption will be occurring inside and consequently task following might be a test. The workers utilize their entitlement to get to the framework to make change and adjustment of information with the intension of monetary benefits for instance in a representative in the IT division of a water giving o rganization can lessen the utilization figures of some particular records at that point liaise with the holders of those records for installment. To battle all cheats that are identified with improper charging, the individuals that are approved to enter the company’s information concerning the clients must exercise the expert morals without limit. Person that are given this task must have the proper respectability basing on the past records. A body that vets such individual ought to be set up. Such a body ought to be outside and ought to haphazardly do the evaluating to guarantee that the way the

Independence for women Essay

Freedom of ladies Speaking of women’s autonomy, individuals will think about the picture that ladies resolved to fght with men in work environment. This is generally perceived in our life. Truth be told, the freedom not just mean contend with men in the vocation, it’s about ladies locate their own position or not. So freedom is a self-comprehension since it might conclude you can get increasingly close to home profit by the financial, ideological or social, and it will cause you to have a decent demeanor and new qualities. Ladies ought to be financially free, and afterward they have able to discuss regard or quality. So as to get by, unmarried ladies can’t put trusts on wed the rich men. Numerous young ladies who consistently depend on rich men, after some time, those men may feel tired. In light of monetary issues, the girls’ sweetheart will have inconsistency with you. In the event that there are an ever increasing number of contentions, your inclination will blur. In addition, Women should keep their own Job or still have financial source when they wedded. In â€Å"chocolate† film, Josephine as a result of her character has issue. She needed to depend on her significant other. His better half idea her life was spared by him. So he hit and mortified her constantly. She can’t get regard or uniformity in her family. Belief system decides women’s conduct, so just having the option to shape their own suppositions, it will make you conduct gets more endorsement from others. Women’s conduct is their appearance of belief system. Individuals frequently stated, magnificent reasoning, brilliant life. In â€Å"chocolate† film, the courageous woman has her own suppositions. She generally did everything as indicated by her thoughts. At long last she got more consideration and assist individuals with changing old suppositions. In addition, Ideology influences women’s associations with others. Indeed, even a few men like give ladies proposals or thoughts. On the off chance that ladies have distinctive brain to impart to them, they might be astonished at women’s thinking, and furthermore will applaud ladies. Social free cause ladies to adjust to social turn of events and change, and it drives you have more improve. Ladies simple to lost objective or brain in the continually evolving society. Ladies can’t expect somebody can give you thoughts. In â€Å"the namesake† film, the heroine’s spouse consistently remains with her, and causes her make sense of issues. At the point when she lost her better half, she didn’t realize how to proceed with the remainder of live. Social autonomy can pull in more consideration from others. In â€Å"chocolate† ovie, on account of the main woman was acceptable at free living, it makes individuals focus on her. At long last, they discovered, it drives their life to great bearing. Along these lines, it won more regard and love for her. With everything taken into account, ladies autonomy doesn’t mean totally subject to other people, it is women’s self-comprehension since it can get more advantage, and it will get more love and consideration from others. Thus, financial, ideological or social free is important for ladies. Simultaneously, I trust each lady have capacity to autonomously, and they can play increasingly more significant job in public activity, including myself.

How to Identify Financial Abuse in a Relationship

How to Identify Financial Abuse in a Relationship Relationships Violence and Abuse Print How to Identify Financial Abuse in a Relationship By Sherri Gordon facebook twitter Sherri Gordon is a published author and a bullying prevention expert. Learn about our editorial policy Sherri Gordon Updated on January 19, 2020 Stas_V / Getty Images More in Relationships Violence and Abuse Spouses & Partners LGBTQ When most people think of domestic abuse, the first thing that comes to mind is likely verbal abuse and physical assault. But research shows that financial abuse occurs just as frequently in unhealthy relationships as other forms of abuse. In fact, a study by the  Centers for Financial Security  found that 99% of domestic violence cases also involved financial abuse.?? Whats more, financial abuse is often the first sign of dating violence and  domestic abuse. Consequently, knowing how to identify financial abuse is critical to your safety and security. What Is Financial Abuse? Financial abuse involves controlling a victims ability to acquire, use,  and maintain financial resources. Those who are victimized financially may be prevented from working. They also may have their own money restricted or stolen by the abuser. And rarely do they have complete access to money and other resources. When they do  have money,  they often have to account for every penny they spend.?? Overall, the forms of financial abuse vary from situation to situation. Sometimes an abuser may use subtle tactics like manipulation while other abusers  may be more overt,  demanding, and intimidating. In the end, the goal is always the sameâ€"to gain power and control in a relationship. While less commonly understood than other forms of abuse, financial abuse is one of the most powerful methods of keeping a victim trapped in an abusive relationship. Research shows that victims often are too  concerned about their ability to provide financially for themselves and their children to end the relationship. Plus, financial insecurity is one of the top reasons women return to an abusive partner.?? The Impact of Financial Abuse The effects of financial abuse are often devastating. Victims feel inadequate and unsure of themselves due to the emotional abuse that accompanies financial abuse. They also have to go without food and other necessities because they have no money. In the short-term, financial abuse leaves victims vulnerable to physical abuse and violence.?? Without access to money, credit cards, and other financial assets, its extremely difficult to do any type of safety planning. For instance, if an abuser is particularly violent and the victim needs to leave in order to stay safe, this is difficult without money or a credit card. And if they need to leave the relationship  permanently, it is challenging to find safe and affordable housing. They also struggle to provide for basic needs like food, clothing, and transportation. For those who do manage to escape an abusive situation, they  often face extreme difficulties in obtaining long-term housing, safety, and security.?? Victims often have spotty employment records, ruined credit histories, and mounting legal issues caused by years of financial abuse. Consequently, its very difficult for them to establish independence and long-term security. In fact, many victims stay with or return to abusers due to concerns about financial stability. Tactics Used by People Who Financially Abuse Others Overall, financial abuse is very isolating because victims often become financially dependent on their abusers. This financial dependence traps them in the relationship. Without resources, they are unable to see a way out of their situation. For this reason, its extremely important that women can identify financial abuse before it escalates and they are stripped of their credit histories and employment opportunities. Following is an overview of the way financial abuse is perpetrated. Some abusers may use all of these tactics while others may only use one or two. Regardless of whether the abusive person is using one tactic or 10, its still considered financial abuse. Here are some ways in which people are abused financially. Exploiting Your Resources   When a dating partner or spouse uses or controls the money you have earned or saved, they are exploiting your resources. Here are some examples of this exploitation. Trying to control your use of or access to money you have earned or savedUsing your assets for their personal benefit without askingTaking money or using  credit cards without permissionRuining your credit history by running up limits and then not paying billsClaiming to make payments or pay bills in your name but not following throughBorrowing money or making charges without repaying itFeeling entitled to your money or assetsDemanding that you turn over your paycheck, passwords, and credit cardsExpecting you to pay for  their bills or their obligationsUsing offers to help with your budget or financial decisions as a cover for gaining control over your financesRequiring you to bail them out of difficult financial situations?Confiscating your paycheck or other sources of incomeIntercepting or opening your bank statements and other financial recordsThreatening to lie to officials and claim you are cheating or misusing benefits ?Interfering With Your Job   When a dating partner or spouse attempts to control your ability to earn money or gain assets, they are interfering with your income potential.  Here are some examples of job interference. Criticizing and minimizing your job or choice of careerPressuring you to quit your jobâ€"sometimes even using children as an excuseTelling you where you can and cannot workSabotaging your work responsibilitiesHarassing you at work by calling, texting, or stopping byPreventing you from working by hiding your keys, unhooking your car battery, taking your car without permission, or offering to babysit and then not showing up ?Controlling Shared Assets and Resources When a dating partner or spouse has complete control over the money in the relationship and you have little or no access to what you need, this is controlling the family resources. Here are some examples of controlling shared resources and assets. Criticizing every financial decision you makeReducing your freedom to plan or budgetMaking large financial decisions without your inputRefusing to collaborate on financesHiding or taking funds and putting them in a private accountInsisting you share your income but refusing to share theirsRefusing to work or contribute to the family incomeControlling the “purse strings” or establishing unrealistic limits or  allowancesRequiring you to account for every penny you spend (may even ask for receipts and change)Having a double standard when it comes to spending (they may spend money on entertainment, dining out, and clothing but criticize you when you make similar purchases)Withholding financial information such as account passwords, account numbers, and investment informationLimiting your access to the overall financial picture as a coupleWithholding money from you or requiring you to ask for moneyDemanding that you ask permission before spending money but not consulting you when they make purchasesRequiring that large, joint purchases be in their name only (such as car loans, mortgages, cell phones, or apartment leases)Limiting your access to money by not allowing you to have bank accounts or credit cardsForcing you to sign financial documents without explanationsMaking threats to cut you off financially when you disagreeBecoming enraged over money and then engaging in other forms of abuse like name-calling or physical violenceEvading or refusing to pay child supportDragging out divorce proceedings in order to cripple you financially ?A Word From Verywell If you suspect that your partner or spouse is financially abusive, contact an advocate, a counselor, or a religious leader right away. Financial abuse is not something that gets better with time. In fact, it often escalates and can lead to other types of abuse. If you do not have a counselor or religious leader who can help, contact the National Domestic Violence Hotline at 1-800-799-SAFE. The key is to address financial abuse right away.

Good Thesis Topics List for Techies even Elon Musk Would Approve

The role of modern technologies in the current society is of huge importance. It helps the humanity in multiple ways and each year, we enjoy the novelties of the technological progress. They sufficiently ease our life, offer great conveniences, the quickness of fulfillment almost all options. Consequently, more and more young people attend technological colleges and universities. This branch is utterly popular. One of the greatest difficulties for techies is to write essays. It goes without saying that you will have a rich variety of topics and each may be special and suit your abilities and interests. Nonetheless, the most successful essays are amongst some really specific ones, which are important and innovative for all times. Consider the list of possible topics for techies, which may be approved even by Elon Musk: New Researches on The Prediction Of The Movie-goers Facial Expressions Alternative Energy Sources to Protect the Natural Environment Smart Electronic Tool, Which Can Recognize Filamentary Areas of Neurons and Blood Vessels The Unique Algorithm, Which Can Give the Best Advice to the Tourists Using Instagram Data The Most Effective Modern Technology That Solves Most Important World Problems The Influence Of Social Media In The U.S.A. That Resolves Different Issues Interaction of the Human Brain and Machines The Most Progressive Algorithms and Architectures The Evolution of Artificial Intelligence and Robotics The Perspectives of the Artificial Intelligence The Implementation of Bio-informatics to Serve the Purposes of Biomedical Engineering and Medicine The Usefulness of Computerized Assistants in Education Databases and Data Centers to Ease the Way of Keeping and Finding Necessary Information Novel Technologies for Computing Hardware Special Tools That Help Computers Recognize and Understand People The Progressive Software for the Networking The Helpfulness Of Multimedia for a Better Communication for Each Day Hardware and Software Evolution The Importance and Major Functions of Programming Languages Pros And Cons of Automation The Most Effective Analysis Programs The Issues Of The Current Systems of Security As you can see, these topics are pretty complicated to study and analyze. Nevertheless, they are significant for the world of technology combined with science. It is important to choose relevant and simultaneously difficult topics. If revealing them properly, you will get the highest grades. Remember the offered above thesis topics. They will give you what to think about. You will be provided with tons of information. In such way, you will be able to choose out of the latest informative resources and pick up those pieces of information, which would fully suit your purposes. How to Compose Technology Assignments? In order perform assignments in the sphere of technology you should follow the next recommendations: Choose a topic. Gather information. Create an outline. Make the first draft. Develop your thesis. Write the main body paragraphs. Proofread and edit. These are the common tips, which will help to cope with this important assignment.

Ethical Concerns Ethical Issues - 866 Words

Hydrofracking Ethical Concerns One of the focal points in the argument for and against hydrofracking is the ethical concerns of the process. These ethical concerns can be broken down into a collection of other topics. Hydrofracking ethical concerns are based on a web of different topics. The first of which is political; as hydrofracking is a political topic as much as it is any other. Currently some states allow hydrofracking and some do not. On the political side of things Republicans tend to promote it while democrats tend to push for anti-hydrofracking legislature. The political ethics are involved when it comes to banning something that is not on one’s own land. Despite the environmental effects of hydrofracking, is it ethical to prevent someone from fracking on their own land if this has no effect on someone else? Some would say yes and others would say no, but I believe that if you are the owner of your own property then as long as it is of no detriment to another perso n you should be able to do what you wish of it. Therefor I don t think that it is ethical for the federal or state government to ban hydrofracking from a private land owner. The economic ethical concerns are another topic of large debates. Should we prevent the production of a massive resource right under our feet? A resource that could provide millions of jobs and provide billions of dollars of tax revenue to both state and federal governments. States like North Dakota experienced almost noShow MoreRelatedEthical Issues, Social Media Influence, and Medical Concerns of the iPhone 5 C Model979 Words   |  4 Pagescurrent global atmosphere differently. For instance, the fact that this product can connect to multiple medical gadgets could alter the current medical practices. 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The ethics of the marketing decision can incorporate any part of marketing including sourcing of raw materials, staff employment and product advertising and pricing. Sound marketing ethics are usually those that result in consumer satisfaction, with no negative effect, with the goods and services being recognizedRead MoreEthical Ethics And Ethical Hacking968 Words   |  4 Pagesdevelopments and issues that have arisen in regards to the internet. One development and issue is ethical hacking. To understand ethical hacking one must be able to define what it means to be a hacker. â€Å"A hacker is an individual who intends to gain unauthorized access to a computer system† (Laudon Traver, 2015). Oxford Dictionaries defines an ethical hacker as â€Å"a person who hacks into a computer network in order to test or evaluate its security, rather than with malicious or criminal intent† (Ethical HackerRead MoreEthical Lens Essay819 Words   |  4 Pagesthe organization. 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The ACA Code of Ethics (American Counseling Association [ACA], 2014) states that counselors protect confidential information of a client and when consulting with others, do not disclose information that could lead to the identification of a client without the client s prior consent. Additionally, confidential information is only discussed in settings, where clients’ privacy can be ensured (Standard B.3.c). That brings one to one of the main ethical issues in the

Private Performing Arts High Schools

Health Information Exchange And The Medical Record And...

Interoperability means the ability to share the medical record and exchange of data between information systems, which helps to achieve quality care. What is health information exchange? It is aimed to provide a complete view of patient’s information for clinicians who have the responsibility to make decisions for treatment for the better outcome. HIEs would enable the sharing of record between doctors offices, hospitals and laboratories, and security levels would be determined by the level of data needing to be exchanged. One thing is for real there is no perfect world. HIEs are happening, it is up to the EHRs and administrators to figure out how best to assist the process. We all should know the reason for HIEs is to improve patient outcome, design new patient care and delivery system and decrease the cost of medical care. About 75 million Americans suffer from multiple chronic conditions, which means they require multiple providers for their care. HIEs is the key like the se situations for proper diagnosis and there should be adequate communications between the providers. They require communication or exchange of data for coordination of care for this patient. In these instances, health care providers and patients frequently lack pertinent and useful information where treatment decisions are made. In today s advanced technology, EHRs offer the substantial part to capture and share health information. The vendors, IT developers, and coordinators of healthShow MoreRelatedHealth Information Exchange Essay example1687 Words   |  7 PagesHoskins August 14, 2012 Course Project Health Information Exchange Table of Contents Introduction History of HIE †¢ What is HIE? †¢ What is Illinois HIE program? The Challenge †¢ Why do we need HIE? Benefits of HIE †¢ How does HIE work? †¢ Who set the standards for national health information program? †¢ What are the benefits to the patients, providers, insurance carriers, etc? Privacy and Security †¢ How is patient data secured when exchanged through HIE? Read MoreHealth Information Exchange ( Hie )1330 Words   |  6 PagesHealth information exchange (HIE) is the process of transporting medical-related information electronically between healthcare providers. Health information exchange was formed by the Hartford Foundation in 1990, with the establishment of Community Health Management Information Systems (CHMIS). Today, there are many models and forms that support health information exchange. Healthcare providers and organizations may have challenges with this new way of exchanging patient information, however, thereRead MoreHealth Information Exchange And The Healthcare Field1498 Words   |  6 PagesHealth Information Exchange is a fairly new concept in the healthcare field. There were several precursors to HIE that were in use throughout the United States, these include Community Health Management Information Systems, Community Health Information Networks, and Regional Health Information Organizations. There are several data f actors that make up a Health Information Exchange, the Electronic Health Record and the Personal Health Record. One of the biggest concerns about medical informationRead MoreInformatics Specialty Essay1595 Words   |  7 Pagesof electronic health records (EHR) progress nationwide, the concepts of interoperability and health information exchange (HIE) must be discussed. The Healthcare Information and Management Systems Society (2005, p. 2) define interoperability as â€Å"the ability of health information systems to work together within and across organizational boundaries in order to advance the effective delivery of healthcare for individuals and communities.† Interoperability is the enabling of two systems, including thoseRead MoreEvaluation Of The Joint Commission1516 Words   |  7 PagesIn order to ensure patient safety, maintain the continuity of patient care, and improve patient outcomes, complete and accurate patient information must be collected. Standards and guidelines for patient documentation have been established that hospitals must adhere to in order to either maintain current accreditation, or receive payment. The three organizations setting these standards are The Joint Commission (TJC), The Commission on Accreditation of Rehabilitation Facilities (CARF), and The CenterRead MoreKey Functions Of The Hl7 Standard763 Words   |  4 PagesStandards Assignment 1. What are 3 of the main functions of the HL7 Standard? †¢ Manage patient demographics by capturing and preserve demographic information wherever it is most appropriate, the information must be clinically and medically appropriate, and also easily reportable and trackable over time. †¢ Obtain outside medical information by combining medical documentation from outside sources. †¢ â€Å"Manage guidelines, protocols and patient-specific care plans by providing administrative tools for organizationsRead MoreElectronic Items And Its Effects On Peoples Life1608 Words   |  7 Pages banking, big data technology are revolutions among the modern computer world. Electronic items are reducing their size and weight day by day with less cost. Despite revolutionizing lowest possible accessible technology is in our hand, healthcare systems cost is rising above sky. Although, people are aware of their own healthcare, it took while to explore and have access to health information technology through website or internet securely. Especially, Health information Exchange(HIE) has beenRead MoreHealth information exchange Essay1592 Words   |  7 Pagesï » ¿Devry University Health Information Exchange 4/8/2013 Table of Contents Cover Page: Page 1 Table of contents: Page 2 Introduction of HIE: Page3 Outline US History of HIE: Page 4-5 Benefits of HIE: Page 5-6 Privacy and Security: Page 6-7 Challenges: Page 7-8 Conclusion: Page 8 Works Cited: Page 9 In 1990 Hartford Foundation funds, â€Å"Community Health Management Information Systems.† They gave grants to seven states and cities to develop those early prototype HIE’s. HIE focusesRead MoreThe CCR and CCD Contain Some of the Same Standard Rules Essay912 Words   |  4 Pageshealthcare organizations to exchange patient health related information with other healthcare organizations. This was made possible by the creation of the electronic health record (EHR), electronic medical record (EMR) and personal health record (PHR). The EHR, PHR and the EMR allowed for patient’s paper medical charts into transformed into electronic charts. This allowed for a better way to organize the information that was contained the paper medical chart. The health organization began to realizeRead MoreHealth Information Exchange Or Hie936 Words   |  4 PagesHealth Information Exchange or HIE is a relatively new facet in the 100 year history of medical records. (Clark) â⠂¬Å"HIE is the transmission of healthcare-related data among facilities, health information organizations, and government agencies according to national standards.†(HIE defined) More specifically, HIE allows nurses, doctors, pharmacists, and other health care providers and patients to access and share vital patient medical information electronically, thus reducing the cost and increasing

Analysis Of Ernest Hemingway s Nobody Ever Dies

Ernest Hemingway was and is a greatly celebrated American writer. During the Spanish Civil War, Hemingway traveled to Spain to find inspiration for his stories. After returning home, â€Å"In March 1939, Cosmopolitan published a story by Ernest Hemingway entitled ‘Nobody Ever Dies’† (Cooper, 1988, pg 117). The story is about fighting for something that is bigger than yourself. This message is portrayed through the main characters Enrique and Maria. Enrique is a young Cuban veteran who fought for the Spanish Loyalist Army. He hides in an abandoned house in Havanna. A â€Å"Negro† is keeping watch on the house to rat Enrique out to the police for a profit. Enrique’s lover, Maria, appears in the story bringing along food and company. The two of them talk about the war and how it may spread to Cuba. Enrique ends up telling Maria of the death of her brother. She becomes upset about the death of her loved one and criticizes the war. Enrique explains that t he goals of the war effort are more important than the lives being lost. That they are fighting for a purpose that is more significant than themselves. In the midst of their discussions, they hear police sirens and attempt to escape the house undetected. Enrique is shot and killed. Maria is soon captured for interrogation and despite her position, she holds her head high and remembers that Enrique had told her, â€Å"Where you die does not matter, if you die for liberty† (PDBooks, n.d.). â€Å"Nobody Ever Dies† is a well written story of faithShow MoreRelatedLogical Reasoning189930 Words   |  760 Pagesleft at home at the last minute. The three of you are thirsty and have only dehydrated food left, except for four apples. You wish you had bothered to haul in that twelve-pack of Dr. Pepper you decided to leave in the car’s trunk. What do you do? Nobody brought cell phones. You could yell, but that is unlikely to help; you havent seen any other hikers since the trip began. You try yelling, but all you get is an echo. You briefly think about snow, but realize there isnt any. Emilio says he has

The Secret Circle The Initiation Chapter Fifteen Free Essays

The door was no longer tiny but life-size, large enough to go in. It was ajar, and colored light streamed from the other side. Inside the skull, Cassie gazed at the door, her scalp tingling. We will write a custom essay sample on The Secret Circle: The Initiation Chapter Fifteen or any similar topic only for you Order Now If it opened, could I go inside? she wondered. But how could it open? Maybe if she just imagined it opening†¦ but that didn’t seem to do any good. What had Melanie said? Crystals help us call on the Powers. What Powers would be connected with clear quartz? Earth and water? For sand and sea? That sounded almost like the beginning of a poem. Earth and water, sand and sea As I will, so let it be†¦ She concentrated on the door, willing it to open. And as she stared, it did seem that there was more rainbow light spilling out. More†¦ and more. Keep it opening. Let it draw you closer. She was floating in front of the door now. It was huge, like the door to a cathedral. Opening†¦ opening†¦ She was drowning in rainbow light. Now! Go in! But at that instant a scream tore through the room. It was a scream of terror, high and wild, and it lanced through the utter silence. The door stopped opening, and Cassie felt herself being pulled backward. The door was receding, faster, faster. Then, just before she found herself outside the skull, a face flashed before her eyes. The same face she’d seen before. But it wasn’t receding; it was traveling toward her. Getting bigger. Bigger and bigger so fast – it would burst the crystal. It would – â€Å"No!† cried Diana. Cassie felt it at the same instant, an overwhelming sense of evil. Of something rushing toward them at incredible speed. Something that had to be stopped. She never quite knew what happened next. Sean was sitting on the other side of Faye. Maybe he was the one who moved first; maybe he panicked and tried to bolt. In any case there was a commotion. Faye seemed to be trying to do something and Sean to stop her, or maybe it was the other way around. They were struggling. Diana was crying, â€Å"No, no!† Cassie didn’t know what to do. She tried to check her instinctive flinching away from Faye, but it didn’t matter. Faye lurched forward and Cassie felt the pressure of Faye’s knee leave hers. The circle was broken, and Faye’s candle went out. Instantly all the other candles were snuffed out too, as if by a blast of wind. In the same instant Cassie felt the rushing thing reach the limits of the crystal. It burst out of the skull and past the dark, smoking candles. Cassie didn’t know how she could tell this – everything was pitch-black. But she felt it. She could sense the rushing thing like an inkier blackness. It exploded past her, blowing her hair straight up and to the side. She threw out an arm to protect her face, but by that time it was gone. There was a faint cry in the darkness. Then everything was quiet again. â€Å"Turn on the lihts,† somebody gasped. Suddenly Cassie could see. Adam was standing by the light switch. Diana was standing too, her face white and frightened. Around the circle every face reflected alarm and consternation – except Nick’s. His was impassive as usual. Faye was just sitting up. She looked as if she’d been blown backward by some tremendous force. Fury blazing in her eyes, she turned on Sean. â€Å"You pushed me!† â€Å"No, I didn’t!† Sean looked around the room for help. â€Å"She was trying to get to the skull! She was lunging for it!† â€Å"You lying little worm! You were trying to get away. You were going to break the circle.† â€Å"She – â€Å" â€Å"No, I didn’t!† â€Å"All right!† shouted Diana. Adam came up beside her. â€Å"It doesn’t matter who did what,† he said, his voice tense. â€Å"What matters is that – energy – that escaped.† â€Å"What energy?† Faye said sullenly, examining her elbow for bruises. â€Å"The energy that knocked you flat on your back,† Diana said grimly. â€Å"I fell. Because this little snot pushed me.† â€Å"No,† said Cassie before she could stop herself. She was beginning to shake in delayed reaction. â€Å"I felt it too. Something came out.† â€Å"Oh, you felt it. The expert.† Faye gave her a glance of scorn and disdain. Cassie looked around at the others, who were still sitting, and was surprised to see uncertainty in their expressions. Surely they had felt it too? â€Å"I felt – something,† Melanie said. â€Å"Something dark inside the skull. Some negative energy.† â€Å"Whatever it was, it was released when we broke the circle,† Adam said. He looked at Diana. â€Å"It’s my fault. I shouldn’t have let this happen.† â€Å"You mean you should have kept the skull a secret from the rest of us,† Faye said sharply. â€Å"For your own personal use.† â€Å"What difference does it make?† Laurel cried from the other side of the circle. â€Å"If something was released from the skull, it’s out there right now. Doing God knows what.† â€Å"It’s – bad,† Cassie said. What she wanted to say was â€Å"evil† but that seemed such a melodramatic word. Yet that was what she had sensed in the dark, rushing thing. Evil. The intent to destroy, to harm. â€Å"We’ve got to stop it,† Adam said. Suzan was fiddling with a button on her blouse. â€Å"How?† This silence was long and uncomfortable. Adam and Diana were looking at each other, seeming to have some grim unspoken conversation. The Henderson brothers were also telegraphing something to each other, but they didn’t look as if they minded having something murderous and evil loose in the immediate community. In fact, on the whole they looked pleased. â€Å"Maybe it’ll get whoever got Kori,† Chris offered at last. Diana stared at him. â€Å"Is that what you think?† Then her face changed. â€Å"Is that what you were thinking when we were reaching into it? Is that what you were willing?† â€Å"We were supposed to just try and read the last imprints,† Melanie said, her voice as angry as Cassie had ever heard it. The Henderson brothers looked at each other and shrugged. Deborah’s expression was somewhere between a scowl and a grin. Suzan was still fiddling. Nick, face expressionless, stood up. â€Å"Looks like that’s all for tonight,† he said. Diana exploded. â€Å"You’re damn right it is!† she cried, astounding Cassie. She snatched up the skull in her two hands. â€Å"Now this is going to a safe place, where it belongs. Where it should have gone in the first place. I should have known you were all too irresponsible to deal with it.† Hugging the skull to her, she strode out of the garage. Faye was instantly alert, like a cat who sees the flicker of a mouse’s tail. â€Å"I don’t think that was a very nice way to talk to us,† she said throatily. â€Å"I don’t think she trusts us, do you? Hands up – how many people here want to be led by someone who doesn’t trust them?† If looks could maim, the one Melanie threw Faye would have left her a basket case. â€Å"Oh, get stuffed, Faye,† she said in her classy accent. â€Å"Come on, Laurel,† she added, and got up to follow Diana toward the house. Cassie, not knowing what else to do, followed them. Behind her she heard Adam saying to Faye in a low, tightly controlled voice, â€Å"I wish you were a guy.† And Faye’s laughing, husky answer: â€Å"Why, Adam, I didn’t know your tastes ran that way!† Diana was putting the skull back in the Pyrex dish when Adam came in behind Cassie. He went to Diana and put his arms around her. She leaned against him a moment, eyes shut, but didn’t hold him in return. And after that moment she moved away. â€Å"I’m all right. I’m just angry with them, and I’ve got to think.† Adam sat on the bed, running a hand through his hair. â€Å"I should have kept it a secret from them,† he said. â€Å"It was my own stupid pride – â€Å" â€Å"Don’t,† said Diana. â€Å"It would have been wrong to keep something from the Circle that belongs to them.† â€Å"More wrong than to let them use it for stupid, malicious reasons?† Diana turned away and leaned against the cabinet. â€Å"Sometimes,† Adam said quietly, â€Å"I wonder about what we’re doing. Maybe the Old Powers should just be left asleep. Maybe we’re wrong to think we can handle them.† â€Å"Power is only Power,† Diana said tiredly, not turning. â€Å"It’s not good or bad. Only the way we use it is good or bad.† â€Å"But maybe nobody can use it without ending up using it badly.† Cassie stood and listened, wishing she were anywhere else. She was aware that in some terribly civilized way, Diana and Adam were having a fight. She met Laurel’s eyes and saw that the other girl was just as uncomfortable. â€Å"I don’t believe that,† Diana said finally, softly. â€Å"I don’t believe that people are that hopeless. That evil.† Adam’s expression was bleak and longing, as if he wished he could share her belief. Cassie, watching his face, felt a stab of pain, and then a wave of dizziness. She shifted, looking for a place to sit down. Diana immediately turned around. â€Å"Are you all right? You’re white as a ghost.† Cassie nodded and shrugged. â€Å"Just a little dizzy – I guess maybe I should go home†¦Ã¢â‚¬  The anger had drained out of Diana’s eyes. â€Å"All right,† she said. â€Å"But I don’t want you out there by yourself. Adam, would you walk her back? The beach way is faster.† Cassie opened her mouth in reflexive horror. But Adam nodded quickly. â€Å"Sure,† he said. â€Å"Although I don’t want to leave you alone†¦Ã¢â‚¬  â€Å"I want Melanie and Laurel to stay,† Diana said. â€Å"I want to start to purify this skull properly, with flower essences† – she looked at Laurel – â€Å"and other crystals.† She looked at Melanie. â€Å"I don’t care if it takes all night; I want to get it set up. And I want to start now. This minute.† The two girls nodded. So did Adam. â€Å"All right,† he said. And Cassie, who had been standing with her mouth open, suddenly thought of something and nodded too. Her hand automatically patted her front jeans pocket to feel the hard little lump there. So that was how she found herself walking on the beach alone with Adam. There was no moon that night. The stars shone with a fierce, icy brilliance. The waves roared and hissed on the shore. Not romantic. Raw. Primitive. Except for the faint lights of houses above on the cliff, they might have been a thousand miles from civilization. They were almost all the way to the narrow path up the bluff to Number Twelve when he asked her. She’d known in her heart that she couldn’t avoid it forever. â€Å"Why didn’t you want anyone to know that we’d met before?† he said simply. Cassie took a deep breath. Now was the time to see what kind of actress she was. She was very calm; she knew what had to be done, and somehow, she would do it. She had to do it, for Diana’s sake – and his. â€Å"Oh, I don’t know,† she said, and marveled to hear how casual her voice sounded. â€Å"I just didn’t want anybody – like Suzan or Faye – to get the wrong impression. You don’t mind, do you? It didn’t seem very important.† Adam was looking at her in an odd way, hesitating, but then he nodded. â€Å"If that’s what you want, I won’t mention it,† he said. Relief washed over Cassie, but she kept her voice light. â€Å"Okay, thanks. Oh, by the way,† she went on, fishing in her pocket. â€Å"I’ve been meaning to give this back to you. Here.† It was strange how her fingers seemed to cling to the chalcedony rose, but she managed to open them and drop it into his hand. It lay on his palm, the quartz crystals seeming to capture a little of the starlight. â€Å"Thanks for loaning it to me,† she said. â€Å"But now that I’m an official witch, I’ll probably be finding my own stones to work with. And besides† – she curved her lips in a teasing smile – â€Å"we don’t want anybody to get the wrong impression about that either, do we?† She had never in her life acted like this with a boy, teasing and carefree and confident. Almost flirtatious while making it clear that she meant nothing by it. And it was so easy – she’d never imagined it could be this easy. It came, she supposed, from the fact that she was playing a role. It wasn’t Cassie standing here; it was someone else, someone who wasn’t afraid because the worst had already happened and there was nothing left to fear anymore. A wry smile had touched Adam’s lips, as if he were responding automatically to her tone, but it disappeared almost instantly. He was looking at her hard, and she forced herself to return his gaze blandly and innocently, the way she had returned Jordan’s on the beach that day in August. Believe me, she thought, and this time she knew the power of her own thoughts, the power she could draw on to enforce her will. Sky and water, sand and sea; As I will, so let it be. Believe me, Adam. Believe me. Believe me. He looked away from her suddenly, turning sharply toward the ocean. It reminded Cassie, to her surprise, of the way she had broken free of Faye’s mesmerizing gaze. â€Å"You’ve changed,† he said, and there was wonder in his voice. Then he turned back to look at her with that hard, unrelenting gaze again. â€Å"You’ve really changed.† â€Å"Of course. I’m a witch now,† she said reasonably. â€Å"You should have told me that in the beginning – it would have saved a lot of trouble,† she added in a scolding tone. â€Å"I didn’t know. I could sense – something – in you, but I never thought of you being one of us.† â€Å"Oh, well, it all turned out okay,† Cassie said quickly. She didn’t like him talking about what he sensed in her. It was too dangerous. â€Å"Anyway, thanks for walking me home. This is where I go up.† With a final smile, she turned away and quickly climbed the narrow path. She couldn’t believe it. She’d pulled it off! The relief that flooded her was actually painful, and when she reached the top of the path and saw her house, her knees felt weak. Oh, thank you, she thought, and started for it. â€Å"Wait,† a ringing, authoritative voice behind her said. I should have known it wouldn’t be that easy, Cassie thought. Slowly, keeping her face expressionless, she swiveled to look at him. The faint light from above reflected off the planes of his face as he stood on the bluff with the ocean behind him. Those high cheekbones, those humorous, expressive lips. There was no humor now. His eyes were as keen and piercing as when he had stared after Jordan and Logan that day on the beach, radiating a power she didn’t understand, frightening her. They frightened her now. â€Å"You’re good,† he said. â€Å"But I’m not completely stupid. There’s something you’re not telling me, and I want to know what it is.† â€Å"No, you don’t.† The words escaped her lips before she could stop them, but their flat sincerity was unmistakable. â€Å"I mean – there’s nothing I’m not telling you.† â€Å"Listen to me,† he said, and to her dismay he stepped closer. â€Å"When I first met you,† he said, â€Å"I had no idea you were one of us. How could I? But I knew that you were different than that phony friend of yours. Not just another pretty girl, but somebody special.† Pretty? He thought I was pretty? Cassie was thinking wildly. The clear, despairing calm was leaving her, and she clung to it desperately. Look cool and blank, she ordered herself. Politely inquiring. Let nothing show. Adam’s blue-gray eyes were flashing now, his odd, proud face clearly revealing his anger. But it was the hurt in the depths of those eyes that confused Cassie most. â€Å"You weren’t like any girl I’d met on the outside – you could accept mysterious things – even mystical things – without being afraid of them or trying to destroy them on sight. You were†¦ open. Tolerant. You didn’t automatically hate and reject anything different.† â€Å"Not as tolerant as Diana. Diana’s the most – â€Å" â€Å"This hasn’t got anything to do with Diana!† he said, and Cassie realized that he meant it. He was so completely honest and straightforward that betrayal had never even entered his mind. â€Å"I thought,† he went on, â€Å"that you were someone I could trust. With my life, even. And when I saw you hold out against Jordan – a guy practically twice your size – I knew I was right. It was one of the bravest things I’d ever seen – and all for a stranger. You let him hurt you for my sake, and you didn’t even know me.† Show nothing, Cassie thought. Nothing. â€Å"And afterward, I felt something special with you. A special understanding. I can’t explain it. But I’ve thought about it ever since. I’ve thought about you a lot, Cassie, and I was just waiting to tell Diana about you. I wanted her to know that she was right, that there were some outsiders who could deal with us, who could be trusted. Who might be friends of magic. She’s been trying for a long time to get the Club to believe that. I wanted to tell her that you’d opened my eyes – in a lot of ways. After I left you, I even seemed to see more when I went out on fishing boats looking for the Master Tools. I’d look for islands while we were out laying the lines, and all of a sudden I felt like I could see clearer – or as if the ocean was revealing things. Helping me. I wanted to tell Diana that too, and see if she could explain it. â€Å"And in all that time,† Adam finished, turning the full power of his blue-gray gaze on Cassie, â€Å"I was never sorry I’d given you the chalcedony rose – even though we never do that with outsiders. I hoped you’d never be in enough trouble to need it, but I wanted to be there for you if you were. If you’d ever done what I told you, held it tight in your fist and thought of me, I’d have known, and I’d have tracked it down, no matter where you were. I thought you were that special.† Was it true? Cassie wondered dizzily. All those times she’d held the stone – but she’d never held it clenched in her fist and thought only of him. She’d never followed his instructions because she’d never believed in magic. â€Å"And now I get back – and find you’re not an outsider after all. Or only half. I was glad to see you here, and to hear you’d joined the Circle. And from what Diana’s said, she saw how special you were right away too. But I couldn’t tell her I knew you – because for some reason you didn’t want people to know. I respected that; I kept my mouth shut and figured you’d explain when you could. And instead – † He gestured ail-inclusively. â€Å"This. You’ve been giving me the brush-off all week, and now you act as if nothing ever happened between us. You even call on the Powers against me, to make me believe a lie. And now I want to know why.† There was a silence. Cassie could hear the waves below, like soft, rhythmic thunder. She could smell the clear, cold night air. And finally, as if compelled, she raised her eyes to his face. He was right; she couldn’t lie to him. Even if he laughed at her, even if he pitied her, she had to give him the truth. â€Å"Because I’m in love with you,† she said, simply and quietly. And then she wouldn’t let herself look away. He didn’t laugh. He was staring, though, as if in disbelief. Not understanding what he thought he’d heard her say. â€Å"That day on the beach, I felt something special too,† she said. â€Å"But I felt – more. I felt as if we were†¦ connected somehow. As if we were being pulled together. As if we belonged together.† She could see the confusion in Adam’s eyes – like the whirling, spinning confusion she’d felt when she’d discovered Kori’s body. â€Å"I know it sounds stupid,† she said. â€Å"I can’t even believe I’m saying this to you – but you asked for the truth. Everything I felt that day on the beach was wrong, I know that now. You’ve got Diana. Nobody in their right mind would want anything more. But that day – I had all sorts of stupid ideas. I actually thought I could see something connecting us, like a silver cord. And I felt so close to you, as if we understood each other. As if we were born for each other, and there was no point resisting it†¦Ã¢â‚¬  â€Å"Cassie,† he said. His eyes were black with emotion. A look of – what? Utter disbelief? Revulsion? â€Å"I know it’s not true now,† she said helplessly. â€Å"But then I didn’t realize. And when you were standing so close to me, looking down at me, I thought you were going to – â€Å" â€Å"Cassie.† It was as if her words had conjured something magical out of the air, or as if her own perceptions had been sharpened. Her breath caught in her throat as she saw it again. The silver cord. It hummed and shimmered, more powerful and vibrant than ever, linking them. It was as if her heart was directly connected to his. Her breath was coming faster and faster, and she lifted her eyes to his face in bewilderment. Their gaze held. And in that instant Cassie recognized the emotion that had darkened those blue-gray eyes before. Not disbelief, but realization. A dawning understanding, and a wonder that made Cassie’s knees feel weak. He was†¦ remembering, she thought. And seeing what had happened between them in a new light. Realizing on a conscious level just what he had actually felt that day. She knew this as clearly as if he had told her in words. She knew him. She could feel every beat of his heart, she could sense the world through his eyes. She could even see herself as he saw her. A fragile, shy creature of half-hidden beauty, like a wildflower in the shadow of a tree, but with a core of shining steel. And just as she could see herself, she could feel his feelings about her†¦ Oh, what was happening ? The world had gone still, and it contained only the two of them. Adam’s eyes were wide and dazed, the pupils enormous, and she felt she was falling into them as he looked down at her. A lock of his hair had fallen onto his forehead, that marvelous, tangled wavy hair that was all the colors of autumn in New England. He was like some woodland god who’d come out in the starlight to court a shy tree nymph, and he was irresistible. â€Å"Adam,† she said. â€Å"We†¦Ã¢â‚¬  But she never got to finish. He was too close to her now; she could feel his warmth, feel their electrical fields merging. She felt his hands cupping the backs of her elbows. Then slowly, slowly, she felt herself being drawn toward him until his arms were around her, embracing her fully. The silver cord could not be denied any longer. How to cite The Secret Circle: The Initiation Chapter Fifteen, Essay examples

Androids History free essay sample

Apps can be downloaded from third-party sites or through online stores such as Google Play (formerly Android Market), the app store run by Google. In June 2012, there were more than 600,000 apps available for Android, and the estimated number of applications downloaded from Google Play was 20 billion. Android became the world’s leading smart phone platform at the end of 2010. For the first quarter of 2012, Android had a 59% smart phone market share worldwide. At the half of 2012, there were 400 million devices activated and 1 million activations per day. Analysts point to the advantage to Android of being a multi-channel, multi-carrier OS. HISTORY: Android, Inc. was founded in Palo Alto, California, United States in October 2003 by Andy Rubin,Rich Miner Nick Sears and Chris White to develop. Google acquired Android Inc. on August 17, 2005, making Android Inc. a wholly owned subsidiary of Google. VERSION HISTORY: Android has been updated frequently since the original release of Astro, with each fixing bugs and adding new features. We will write a custom essay sample on Androids History or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Each version after Astro and Bender is named in alphabetical order. List of Android version code names: ? Android consists of a kernel based on the Linux kernel 2. 6, with middleware, libraries and APIs written in C and application software running on an application framework which includes Java-compatible libraries based on Apache Harmony. Android uses the Dalvik virtual machine with just-in-time compilation. The main hardware platform for Android is the ARM architecture

Managing Quality - Cost and Risk in Health Care

Question: Discuss about theManaging Quality, Cost and Risk in Health Care. Answer: Introduction As a leader of concerned community coalition, my interests are to see the hospital intensify its endeavors in preventive medical care, train a itinerant health team to administer diagnostic tests all over the neighborhood, improve as well as expand casualty accommodations, inaugurate a health Centre with day care amenities, replacement of local health district board with members chosen residents of the community, replacement of the organizations director by another who is highly favored by the community, increase of outpatient facilities, creation of a health Centre and a day care facility on the newly acquired site as well as one hundred percent increase in outpatient facilities (Pedersen Kinley 2013). My negotiating partner would like 50 supporters of the concerned community coalition to vacate his office to pave way for any kind of negotiations. He also wants me and my members to tone down our demands especially on our second demands since he considers them arrogant. The other party wants to retain their jobs hence they do not want to be replaced. The party also wants to be left to run the hospital in the best way they see fit for the benefit of the patients (Rossiter 2013). As far as interests are concerned, I would like to ask my partner why he thinks that the measures he has taken for instance the intention of establishing new support services building in the new site they acquired will benefit the local community in the long run (Lyons 2007). To meet my key interests and theirs, I would propose that we as the concerned citizen coalition be permitted to select few representatives who will be coordinating with the hospital management to ensure that the strategies that the hospital management is implementing are primarily aimed at bettering the lives of the local community. I would also propose that the hospital management holds meetings with local residents regularly to ensure that they are aware of the hospitals development plans at all times. I would propose that we leave the directors office as a show of good faith. I would also propose that the director and the local health district board allocate to two or three slots on the board that will be specifically left for the community members who will be chosen by the people (Tieleman Buelens 2012). As far as making a decision among several possible options is concerned, I would use standards like cost, acceptability, and benefit. The option I chose should not be costly to both parties. It should also be accepted by both parties who are the negotiating table. The option that would be suitable is the one that will most beneficial to the local community who will be directly affected (Yeung 2004). As far as this case is concerned, there are several interpersonal challenges that might arise. Poor listening skills may be one of the key challenges that may face the negotiation. Secondly, the parties may also be too assertive. I would separate the people from the problem by not assigning blame, using role reversals, recognizing and legitimizing emotions as well as not reacting to outbursts (Lyons 2007). Batnais essentially the best you can do if the other partner refuses to negotiate with you (Laws 2003). My BATNA is to go to file a lawsuit against the director of the hospital and the local health district board. The minimum I would be willing to accept is first, the allocation of two seats in local health district board, assurance in writing that there will be an improvement and expansion of outpatient facilities as well as the establishment of a health Centre by the hospital management and the local health district board. Failure to that, then I would have no choice but to walk away from the negotiations (Lyons 2007). References Laws, A. (2003).Negotiations. Oxford: Summertown. Lyons, C. (2007).I win, you win: The essential guide to principled negotiation. London: A C Black. Pedersen, M. B., Kinley, D. (2013).Principled Engagement: Negotiating Human Rights in Repressive States. Farnham: Ashgate Publishing Ltd. Rossiter, T. (2013).Effective negotiations in easy steps. Tieleman, K., Buelens, M. (2012).Negotiations. Leuven: LannooCampus. Yeung, K. (2004).Securing compliance: A principled approach. Oxford: Hart Pub.

Essay Topics For the Next Ten Years

Essay Topics For the Next Ten YearsEach year the College Board (the organization that administers the SAT and AP tests) creates new essay topics and develops new essay topics that will be used for the next test. The College Board also announces changes to the number of essay topics that will be used for the next year.Some of the previous years' topics include 'The Meaning of Life' (in the 2020 SAT and AP tests), 'The Best Years of My Life' (in the 2020 SAT), 'Life is Beautiful' (in the 2020 SAT), 'Three Things I've Learned That Change My Life' (in the 2020 SAT), 'The Changing Face of America' (in the 2020 SAT), 'Important Changes' (in the 2020 SAT), 'American Experience' (in the 2020 SAT), 'College Students and the Common Core' (in the 2020 SAT), 'My Child Is a College Student' (in the 2020 SAT), 'Investing in Your Child's Future' (in the 2020 SAT), 'New York Times Bestsellers' (in the 2020 SAT), 'The Changing Face of American Culture' (in the 2020 SAT), 'My Friend Isn't Going to Law School,' and 'Changing Your Career Choices.' Also, the College Board announced that they are considering taking the SAT and AP test out of sequence, which would provide students with a new essay topic every year instead of the same one. This change was first reported by a parent of a new SAT student.In addition to these new essay topics, the College Board also announced that they are adding essay topics that are more challenging and more focused on real life issues. One new topic is 'What Would You Do if You Didn't Have a Dream?' Another new topic is 'Building a Business Around Your Passion.' These two topics will be introduced as part of the College Board's 'Creativity' series.Although these new essays were announced last year, the College Board recently announced that they have changed the names of the topics and now the new topics are 'Academic Excellence'Understanding Yourself.' Another new topic is 'Who Am I?'The College Board published an essay on its website which reviews th e different essay topics which they have chosen for the next decade. The essay begins by discussing that the College Board sees the best writing essays as being at the core of the SAT. They then discuss that the College Board's assessment criteria are designed to maximize the use of the essay to develop a student's understanding of the material being presented in the essay.In order to make sure that students get a high rate of success on the SAT, the College Board has modified their essay topic selection criteria. In addition to including more essay topics that were selected because they fit into their focus areas, the College Board is also making it easier for students to change their essay topics as their learning level increases. For example, the College Board is allowing students to select their topic from a list which lists all the topics they can change.The College Board is also emphasizing how important it is for students to write about things that interest them, rather than things that interest other students. A good example of this new emphasis is on the College Board's 'creativity' series. As you can see from the essay, they encourage students to keep the essays interesting.As you can see, the College Board has made a lot of changes to the essay topics for the next few years. In the long run, it will pay off in the SAT. Not only will students be able to take more tests and essays, but also they will be able to write more meaningful essays.

John Grisham - His Most Recent Releases

John Grisham - His Most Recent Releases Although  John Grisham gained popularity through legal thrillers, he has successfully branched out these past few  years. For a more up-to-date taste of his work, here is a short list of John Grishams most recent releases.   Gray Mountain Published on October 21, 2014, Gray Mountain  is about a Manhattan lawyer who spends a year in Appalachia after losing her job during the 2008 financial crisis. In the process, she learns a lot about small town culture. Eventually, she enters the courtroom for the first time in her legal career and has a  run in  with big coal that becomes dangerous. The Whistler Grishams most recent book, The Whistler was published on October 25, 2016. While judges are expected to be models of intelligence, honor, and impartiality, The Whistler tells the story of a corrupt judge who bends the law. With a plot that involves the mafia, whistleblowers, hidden identities, and danger, this book has all the ingredients to make a page-turning thriller.   Camino Island The prolific John Grisham will publish his 30th book in 2017, titled Camino Island. The story revolves around a set of handwritten F. Scott Fitzgerald manuscripts that get stolen and sold into the black market. The FBI, a secret agency, and a young writer all get involved in the investigation of these missing documents.   Fans will be excited to hear that Camino Island will be released on June 6, 2017. Dont want to wait? Check out this complete list of Grisham books  and see if you missed one of his earlier novels.

3 Cases of Erroneous Use of Colons

3 Cases of Erroneous Use of Colons 3 Cases of Erroneous Use of Colons 3 Cases of Erroneous Use of Colons By Mark Nichol In each of the following sentences, a colon is employed in the mistaken belief that the sentence structure requires it, when in fact the syntax renders it superfluous. Discussion after each example explains why a colon is inappropriate, and a revision demonstrates proper punctuation of the sentence. 1. The network is terminating all its business ties to his media company, which includes: ending its distribution of his new program, renaming the original show, and separating itself from his merchandise website. A colon should precede a list only when what precedes the colon is a complete sentence. This error is easily rectified by inserting the object â€Å"the following† before it, but a better solution is to simply omit the colon: â€Å"The network is terminating all its business ties to his media company, which includes ending its distribution of his new program, renaming the original show, and separating itself from his merchandise website.† 2. The piece was widely criticized for, among other things: failing to provide crucial context, an apparent unfamiliarity with terminology, failing to verify several claims, and failing to note that the paper had previously published a similar profile of the organization’s cofounder. As in the previous example, the writer assumed that a list must be preceded by a colon, but the punctuation is intrusive when it interrupts the syntactical flow of the sentence. In this case, a comma, not a colon, should follow the parenthetical phrase â€Å"among other things† to complement the comma preceding the phrase: â€Å"The piece was widely criticized for, among other things, failing to provide crucial context, an apparent unfamiliarity with terminology, failing to verify several claims, and failing to note that the paper had previously published a similar profile of the organization’s cofounder.† 3. They understand that, to paraphrase something British statesman Winston Churchill once said: Success is not final, failure is not fatal, and it is the courage to continue that counts. Here, the assumption is that the proper punctuation for separating an attribution from the quotation (or, in this case, paraphrase) attributed is a colon, but again, what precedes the colon must be a complete sentence, such as â€Å"Here is a paraphrase of what British statesman Winston Churchill once said† (clumsy, but syntactically sound). In addition, because the paraphrase is integrated syntactically into the sentence, capitalization of the first word is erroneous: â€Å"They understand that, to paraphrase something British statesman Winston Churchill once said, success is not final, failure is not fatal, and it is the courage to continue that counts.† (Without the attribution, the sentence would be styled â€Å"They understand that success is not final, failure is not fatal, and it is the courage to continue that counts.†) Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Punctuation category, check our popular posts, or choose a related post below:Possessive of Proper Names Ending in SThat vs. Which48 Writing Prompts for Middle School Kids

Londons Millennium Bridge Case Study Example | Topics and Well Written Essays - 2500 words

Londons Millennium Bridge - Case Study Example Seeking to understand the development of London's Millennium Bridge, this research paper will provide a brief description of the history and development of London's Millennium Bridge. Following this, we will provide a survey of the literature on the project, with a particular emphasis on the sustainability of the project today and into the future. A short analysis of the costs, benefits and risks associated with the project will follow and we will conclude with a broad overview of the issues studied with respect to one of the most controversial construction projects in London in recent memory, the building of the Millennium Bridge (Architects, 2000; Steves, 2006). Opening in the summer of 2000, London's Millennium Bridge was welcomed as an architectural wonder but also received its fair share of controversy in the initial days after its unveiling. As a steel suspension bridge which crosses the river Thames, London's Millennium Bridge provides a pedestrian link to the City of London and Backside. Competition for the erection of a major bridge began in earnest four years prior to the unveiling and was the subject of a competition created by the Southwark city council. With a total length of 235 meters, the winning entry was the "Blade of Light" design by architects Arup, Foster and Partners in conjunction with Sir Anthony Caro. This bridge received a fair bit of controversy, when after its unveiling the bridge reportedly rocked back and forth and scared pedestrians who were crossing it. It subsequently was nicknamed the Wobbly Bridge and was closed for two years following this unexpected occurrence. The following will chart the development of t his majestic, yet controversial bridge. Once a decision had been made as to would obtain the contract for London's Millennial Bridge, Blade of Light architects Arup, Foster and Partners in conjunction with Sir Anthony Caro began construction in earnest. While development began earlier, construction started in 1998 and continued up until the official opening on June 2000. This was London's first new Thames crossing in more than a century and London's Millennial Bridge was built to the tune of '18m. Accordingly, nearly half of the funds were donated by the Millennium Commission. The specifications of the bridge included a total length of 330m, a width of 4m, a handrail height of 1.2m and the height above river at high tide standing at 10.8m. Created from concrete and steel piers with cables stretching 120mm of locked coil, the decking was in aluminum while the bridge's handrail was created from bead blast stainless steel (BBC, 2009). Opened by the Queen on June 10, 20001, the Millennial Bridge used "lateral suspension" - an engineering innovation that allows suspension bridges to be built without tall supporting columns. The designers predicted it would be a "blade of light" across the Thames, "an absolute statement of our capabilities at the beginning of the 21st century". Within days they closed it to the public (BBC, 2009). Closed for two years, the modifications undertaken between 2000 and 2002

English Application Essays Essay Example | Topics and Well Written Essays - 750 words

English Application Essays - Essay Example It would be an honor to be taught by such conversant and intellectual set of professors. The campus offers numerous recreation and fitness centers that can become good sources of relaxation after extensive hours of studies. I have always been an active member in extra-curricular activities and clubs; I aspire to continue such activities and shall contribute my role in the progression of the clubs. I believe that one can expect better results from something that is achieved as an outcome of group efforts and team work. The accumulation of different forms of opinions and ideas induces a touch of innovativeness and uniqueness in every endeavor. It is due to this belief that I am contented with the idea of my friends going in the same program. I am excited to study with these individuals and new classmates since they might even become my colleagues in the workplaces in the future. I think that our team work and research can contribute towards the development of the chosen domain of knowl edge and play our part in earning a name for the esteemed University of Ohio. My friends define me as a people’s person who loves meeting new people. The concept of getting familiar with different customs, traditions and culture of the world excites me. It is due to the passion for cultural diversity that I have chosen Ohio University. Ohio University celebrates cultural diversity rather than promoting exclusion. I admire such ideologies and feel that I shall be able to progress more in an environment that is run by such like-minded people. Therefore, I hope you will allow me to pursue my education in the desired business school- Fisher College. Essay 2 I bear great passion for travelling and meeting new people. The nature of my family business has granted me the opportunity to visit numerous countries of the world, thereby giving me the chance of experiencing various forms of cultures and traditions on firsthand basis. Such experiences have made me realize the value of inclu sion of perspectives from all sorts of cultures and origins. I believe that tolerance and acceptance of other people’s ideas induces an element of innovation in one’s work. Tim Berners Lee, the man who invented the World Wide Web, stated that â€Å"we need diversity of thought in the world to face the new challenges†. I aim to promote inclusion and tolerance for other cultures in my endeavors to play my role in safeguarding the traditions of multiculturalism of University of Colorado. Team work and mutual support bear great importance in an academic life since it bears numerous challenging instances and stressful routines. Acceptance of cultural diversity removes barriers among individuals and promotes the spirit of team work and mutual cooperation. I aspire to become a team player who will seek to work together with others to increase his domain of knowledge, as well as to play his part in earning a commendable name for the University of Colorado. Individuals w ho value team work spirit tend to benefit in their professional lives as well; therefore, I believe that my culturally rich experience at University of Colorado will prove to be advantageous for my professional life. Competition is also an integral part of any academic life; healthy competition can prove to be a valuable lesson since it prepares one for the professional life ahead. Exposure to multicultural lifestyles from my childhood

Weak Form Efficient Market Hypothesis For Emerging Markets

Weak Form Efficient Market Hypothesis For Emerging Markets Literature Review The issue of market efficiency in emerging markets is of great significance for both foreign investors and policy makers in emerging economies. This project devotes large efforts to produce a thorough and in-depth literature review for this area. This topic is to be investigated from these aspects: theoretical foundation, methodologies of tests and empirical results. Firstly, traditional efficient market hypothesis (Fama, 1970; Makiel, 1973) and behavior finance theories developed in recent decades (Barbris, 1998; Shleifer, 2000) have formed two main schools of thought for the issue of market efficiency. Secondly, the evolution for a series of methodologies is important for testing market efficiency. Thirdly, the empirical evidence is reviewed by consideration three major factors: trade volume and non-linear behavior, structural breaks and market evolution through time. Finally, it also reflects some important policy implications for emerging markets. Many empirical studies have been widely carried to investigate the weak-form efficient market hypothesis for emerging markets, and the results are mixed. Generally, most of emerging markets are found to be inefficient. But for some countries, such as Istanbul, Egypt and Jordan, after correcting for institutional characteristics and trading conditions, such as thin trading and the presence of non-linearity, equity markets are found to be efficient. When structure break factors are taken into account, market efficiency is powerfully rejected for countries such as Argentina, Brazil, Greece and India. There is also evidence showing that initially emerging markets are inefficient, but over time they are moving toward to be more efficient, such as in Estonian, Lithuanian and Russia duo to economic liberalization policies. These results reflect some important policy implications. Infrequent trading and illiquidity of capital markets negatively affects market efficiency, so economic policy makers should devote efforts to minimize the institutional restriction and barriers on capital flow in the financial markets and to impose strict disclosure requirements, so that investors can easily access to high quality and reliable information. Improving liquidity of capital markets can provide lower borrowing costs for investors and greater opportunities for investment diversification with lower systematic risks. In addition, equity market liberalization is important to help achieving market development. It can reduce cost of capital and increase capital productivity with better capital allocation. Introduction: Due to the increasing globalization of financial markets, fast economic growth and adoption of financial liberalization policies for equity markets in emerging economies, it is widely indicated that equity investment in emerging economies can provide superior returns. Past decades have witnessed spectacular growth in both size and relative importance of emerging equity markets. The market capitalization of emerging market economies accounts for twelve percent of world market capitalization and has more than doubled, growing from less than $2 trillion in 1995 to $5 trillion in 2006 (Nally, 2010). By 2015, it is estimated that the combined GDP of emerging-market economies will surpass that of the top 20 developed economies (ibid). In addition, emerging market returns are weakly correlated with returns in developed markets, so international diversification with these emerging equities can give lower portfolio risks (Levy Sarnat, 1970). The potential high rates of returns and diversific ation benefits has attracted large number of foreign fund investors, so the investigation on whether emerging markets function efficiently is significantly important. By knowing degree of market efficiency, economy policy makers and regulators can gain insights to develop right institutional and regulatory frameworks to allocate scare resources efficiently, form favourable investment condition and obtain further economic growth. Therefore, this essay is going to investigate the weak-form market efficiency in emerging markets. The efficient market hypothesis by Fama (1970), Random Walk module by Makiel (1973) and behaviour finance theories are directed related to this issue and form the theoretical foundations. Section 1 will critically give the theoretical review based on the two schools of thought that are EMH and behaviour finance theories. Section 2 will give a brief review of methodologies adopted in literature review. Section 3 will give empirical review of the weak-form EMH for emerging markets. Section 4 will indicate some brief policy implications for emerging economies and section 5 is the conclusion with some directions for further research. Theoretic Review of EMH VS Behaviour Finance Efficient Market Hypothesis Fama (1970) defines an efficient financial market as one in which security prices always instantaneously and fully reflect all available information. No investors can earn expected abnormal return by analysing past known information. Market efficiency is attained by two key forces: investor rationality and arbitrage activities (Fama, 1970). EMH assumes that investors are rational and can process information correctly and efficiently. Although some investors are irrational and may overact or underact to new information, these judgement errors are independent and random, hence can cancel out each other without affecting prices (Fama, 1998). Therefore, on average, the whole market is efficient. In addition, since numerous profit-maximizing investors are competing to analyse, value and trade securities based on all available information to exploit arbitrage opportunities, on aggregate level, security prices are adjusted quickly to reflect the effect of new information (Fama, 1998). Secur ity prices are driven close to intrinsic values. Expected returns implicit in the current price of a security should reflect its underlying risk, and higher returns are earned only as compensations for bearing higher risk. There are two main modules that explain EMH: fair-game model and random walk model (RWM). The fair-game model is expressed as: Zj,t+1 =rj,t+1-E(rj,t+1à ¯Ã‚ ½Ã…“à Ã‚ ¤t), E(Zj,t+1à ¯Ã‚ ½Ã…“à Ã‚ ¤t)=0 (Copeland, Weston Shastri, 2005). Information in à Ã‚ ¤t is fully utilized to determine equilibrium expected returns. On average, the expected return on an asset E(rj,t+1à ¯Ã‚ ½Ã…“à Ã‚ ¤t) equals its actual return (rj,t+1), so that no expected abnormal return can be gained from past information. RWM gives much stronger condition for EMH. It assumes that successive price changes have a same normal distribution and are independent. Its logic is that because new information is unpredictable and reaches market randomly, so under EMH, the resulting security price changes must be also unpredictable and random (Malkiel, 1973; Malkiel, 2003). No profit can be made from past information. There are three sub-hypotheses of EMH depending on the level of available information set (Fa ma, 1991). Firstly, market is weak-form efficient when prices reflect all security market information such as historical prices. Secondly, market is semistrong-form efficient when prices reflect all public information such as corporate news and financial statements. Thirdly, market is strong-form efficient when prices reflect all public and private information. Behaviour Finance Theories Figure1: Conceptual Framework of Behaviour Finance Source: Shleifer (2000) However, behaviour finance challenges EMH because it argues that psychological biases lead to investor irrationality and limits to arbitrage impede exploitation of mispricing opportunities (Shleifer, 2002). Psychological bias results into systematic overreaction or underreacion among investors. Many behaviour finance theories have been successfully developed to explain some market anomalies. Conservatism biases lead people adjust slowly to new information and hence the underreaction to new information leads to short-run momentum, while representativeness heuristic makes investors believe that past good stock performance will continue and people overreact to information (Barberis, Shleifer Vishny, 1998). Additionally, overconfidence causes investors to overestimate the precision of their own analyses and to neglect public signals (Daniel, Hirshleifer Subrahmanyam, 1998). Under positive (negative) private signal (which is shown in following graph), informed investors overreact and se curity is overpriced (underpriced). When public information becomes available, biased self-attribution causes security to be even more overpriced (underpriced). Eventually, public information proves initial investment judgement is wrong, so price is driven back to intrinsic value (Daniel et al, 1998). It explains that overconfidence leads to short-run return momentum and price correction leads to long-run return reversal. Figure 2: Overconfidence and Self-attributed bias Source: Daniel, Hirshleifer Subrahmanyam (1998) Moreover, classification is a human natural instinct to process information (Barberis Shleifer, 2003). Investors naturally classify stocks by styles, so styles returns are highly positive correlated. There are two kinds of investors: style switchers and fundamental traders. Style switchers are unsophisticated investors and chase investment styles based on past relative stock performance. When there is good news about stock X (shown following graph), they will drain funds away from less attractive style Y. It will push up stock Xs price, even higher than its intrinsic value, but further reduce stock Ys price. However, fundamental traders recognize stock Y is underpriced (Barberis et al, 2003). They arbitrage away mispricing opportunities and drive overpriced stocks back toward intrinsic value. Figure 3: Switchers and Fundamental Traders Source: Barberis Shleifer, (2003) On the other hand, limits to arbitrage may obstruct information to be impounded into prices, duo to the fundamental risk and implementation costs. Noise trader risk would prevent rational investors from arbitraging (Delong, Summer Waldmann, 1990). Pessimistic noise trader drive price below intrinsic value, arbitrageurs can buy the asset, but bear risk of further deviation from the intrinsic value when noise traders become even more pessimistic and price goes down even further (Delong et al, 1990). Arbitrageurs usually have short horizon and must liquidate before price recovers, so they will incur loss. The agency problems between professionals and investors also affect arbitrage (Shleifer Vishny, 1997), so not all mispricing would be arbitraged away to lead market become efficient. However, Fama (1998) argues that behaviour finance theories do well only on the anomalies they are specially designed to explain and cannot be generalized to the entire market. Rubinstein (2001) also argues that investor overconfidence would make market à ¢Ã¢â€š ¬Ã…“hyper-rationalà ¢Ã¢â€š ¬?. Methodologies Adopted to Test the Weak-form EMH Empirical researches on testing weak-form EMH can be divided into three broad categories. Firstly, they tests security return independence. If time-series pattern of security returns shows insignificant (significant) autocorrelations, then weak-form EMH holds (is rejected) (Copeland, Weston Shastri, 2005). Secondly, they test return momentum effect. If portfolio of stocks with higher returns in the short past continues to earn higher abnormal returns in the subsequent short term, then short-run past returns contain information that could predict future returns, so EMH will not hold (Copeland et al, 2005). Thirdly, they test technical trading rules. If no trading rules that consistently derive abnormal profits can be found, then weak-form EMH holds. A series of research methodologies have been developed to exam the EMH. The runs test is non-parametric, which is used to determine whether successive prices changes are independent. Unit root tests involve three different methods to test the null hypothesis of a unit root: the Augmented Dickey-Fuller (ADF) test (1979), the Phillips-Peron (PP) test (1988) and the Kwiatkowski, Phillioh, Achmidt and Shin (KPSS) test (1992). Multiple variance ratio (MVR) tests are adopted to detect autocorrelation and heteroskedasticity in returns (Chow Denning, 1993). Empirical Results of Weak-form EMH for Emerging Markets The research results for testing weak-form efficiency on the emerging markets are mixed. World Bank study reports significant market inefficiency for 19 emerging equity markets (Claessens, Dasgupta Glen, 1995). Latin American emerging markets of Argentina, Brazil, Chile, and Mexico are weak-form EMH (Urrutia, 1995), but under the variance ratio test, RWH is rejected (Ojah Karemera, 1999). Under ADF test, EMH is also generally supported for six Latin American stock markets (Choundhry, 1997). For the emerging markets in Asia, major Asian markets are weak-form inefficient, such as Korea and Taiwan (Cheung, Wong Ho, 1993), Singpore and Thiland (Huang, 1995), but some find it is efficient for Hong Kong, Singapore and Japan (Chan, Gup Pan, 1992). When the observed index levels are used, both RWH and EMH are rejected for three equity markets of Saudi Arabia, Kuwait, and Bahrain after adjusting for infrequent trading , but when the corrected true indices are used, RWH is accepted (Abraha m et al, 2002). RWH is rejected in five Middle Eastern emerging markets, Jordan, Morocco, Egypt, Israel, and Turkey (Omran and Farrar, 2001). Weak-form efficiency is rejected for Saudi and Palestinian financial market and inefficiency might be due to delay in operations and high transaction cost, thinness of trading and illiquidity in the market (Nourredine Kababa, 1998; Award Daraghma, 2009). Many researches find that emerging markets are becoming more efficient due to the liberalization policies. Istanbul stock exchange was inefficient in the early times but it becomes more efficient as the country started liberalization and deregulation (Antonios, Ergul Holmes, 1997). 4.1 Thin Trading and Non-linearity It is argued that such mixed evidences of the weak-form EMH in emerging markets are only reliable if the methodologies adopted take accounts for the institutional characteristics and trading conditions of the markets, such as thin trading and the presence of non-linearity (Antoniou, Ergul Holmes, 1997). Ignoring these factors may lead to statistical illusions regarding efficiency. The conventional tests of efficiency based on linear model have been developed to test markets with high levels of liquidity, sophisticated investors with access to reliable information and few institutional impediments (Antoniou, Ergul Holmes, 1997). Therefore they are not suitable for testing EMH for emerging markets with characteristics of thin trading, low liquidity and less well informed investors with access to unreliable information. Thin trading will bring serious serial correlation (Fisher, 1996), so the observed dependence does not necessarily represent serial correlation among securities return s. In addition, prices responds to information in a non-linear behavior especially during the early development stages of emerging markets (Schatzberg Reiber, 1992), so if the return generating process is non-linear but a linear model is used to test efficiency, then EMH may be wrongly accepted. This is because non-linear systems such as à ¢Ã¢â€š ¬Ã…“chaoticà ¢Ã¢â€š ¬? ones look very similar to a random walk (Savit, 1988). However, the conventional tests cannot recognize this problem. There are several reasons for the existence of non-linear reaction of price to information in emerging markets. Transaction costs are high, information is relatively not reliable and market is illiquid or there are restrictions on trading (Stoll Whaley, 1990). As a result, investors do not always respond instantaneously to the information, which contradicts the assumptions of investor rationality and linear response of price. Scheinkman and LeBaron (1989) and Peters (1991) also empirically support th e non-linearity of stock returns. A number of studies have researched the impact of thin trading (Fisher, 1966; Dimson, 1979; Cohen, 1978; Lo Mackinlay, 1990). Many empirical studies also have taken account of the non-linearity in price series and remove the impact of thin trading by the AR (1) model proposed by Miller (1994). Antoniou, Ergul and Holmes (1997) find that there is apparent predictability of stock returns for Istanbul stock market, but after considering the impact of thin trading, the random walk hypothesis is accepted and the market is informationally efficient for 1990 onwards. Abuzarour (2005) examines the effect of non-trading on market efficiency for three emerging Arabian equity markets: Jordan, Egypt and Palestine using the variance ratio test and the run test during the period of 1992 and 2004. Both random walk hypothesis and weak form efficiency are rejected when the observed index levels are used. However, when the indices are corrected by the Miller, Muthuswamy and Whaley methodologies (1994 ) to take account for thin trading, weak-form EMH is accepted for Egypt and Jordan stock market but it is still rejected for Palestine. All these empirical researches suggest that markets become more efficient when trading volume is high, information is much reliable and institutional frameworks are appropriate. 4.2 Structural Breaks Research on efficiency for emerging markets should not only take account for institutional characteristics and trading conditions, but also should take account for the structural breaks in the underlying series that arise from the liberalization. Ignoring structural breaks can lead to wrong inference that these indices are following random walks. Many emerging countries are liberalizing their financial markets with various degrees (IFC, 1997) and such structure changes would have affected their equity markets (Bekaert et al, 2002; Henry 2000). For instance, huge shocks occurred for equity index level for Greece, Malaysia and Philippines in late 1980s and early 1990s, which are around the same year of their market liberalization. As Perron (1989) have demonstrated that traditional standard tests for RWH in stock prices have low power against the alternative hypothesis in small samples, and the problem is especially serious when structural changes are involved. Thus failure to consider these breaking points may wrongly support the RWH. Therefore, many empirical researches try to incorporate the structural breaks factor by more powerful test methods, such as the Zivot- Andrew sequential test (Zivot Andrew, 1992). Chaudhuri and Wu (2001) adopt both the standard ADF test and Zivot- Andrew sequential method to test the EMH in seventeen emerging markets: Argentina, Brazil, Chile, Colombia, Greece, India, Jordan, Korea, Malaysia, Mexico, Nigeria, Pakistan, Philippines, Taiwan, Thailand, Venezuela, and Zimbabwe. Results for the ADF test without breaks to each series tend to show non-rejection of the RWH. However, results for the Zivot- Andrew test with structural breaks show that RWH can be powerfully rejected at the one percent significant level in ten markets: Argentina, Brazil, Greece, India, Malaysia, Mexico, Nigeria, Philippines, Taiwan and Zimbabwe (Chaudhuri Wu, 2001). 4.3 Market Evolution Although structural breaks have been taken into account in many researches, it is argued that standard techniques are still not fit to test the weak-form EHM for emerging market, because they are not able to evaluate the evolving efficiency in emerging markets. It is also argued that methods such as a time varying parameter model and Kalman Filter technique not only can indicate the movement of stock returns from inefficiency to efficiency, but also can measure the timing of the movement towards full efficiency(Rockinger Urga, 2000; Zalewska-Mitura Hall, 1999). It is generally agreed that emerging markets are evolving from inefficiency to efficiency with the higher disclosure degree of firm practices, high trading volume and lower institutional barriers to trade (Cornelius, 1994). According to Laurence (1986), the methods of OLS or GMM test market efficiency over the whole period and hardly capture the tendency towards efficiency, so under these methods, early inefficiency would wr ongly lead to the conclusion that there are profit opportunities based on the past asset price movement. In addition, the variance of the error process in the conventional test models is not constant over time, so if this changing variance structure is omitted and has a serial correlation property, then market efficiency would be incorrectly rejected (Hall Urga, G2002). Hall and Urga (2002) deal with these problems by using the Kalman Filter and combing the time varying parameter model with a standard GARCH-M model (generalized autoregressive conditional heteroscedasticity in mean). They apply this procedure to the two indexes of Russian stock market from 1995 to 2000. And find that with regard to RTS index (Russian Trading System), the market is initially inefficient and it takes about two and a half years to become efficient, while for the ASPGEN Index (Skate Press Agency General), the market is still predictable. There is evidence of a tendency towards being efficient. Kvedaras and Basdevant (2002) also investigate the market efficiency in the three Baltic States: Estonia, Latvia and Lithuania by using the time-varying variance ratio statistic robust to heteroscedasticity based on time-varying autocorrelations. They find a clear trajectory to weak-form efficiency in the Estonian and Lithuanian capital markets. Its relatively small inefficiency ca n be explained by transaction costs and information acquiring costs (Grossman and Stiglitz, 1980). In the Latvian market, it is inefficient even at the very end of the analyzed period. Policy Implications These results have some important implications for developing effective institutional and regulatory frameworks. Since infrequent trading negatively affects market efficiency and liquidity in emerging markets, economic policy makers should pay attention to minimize the institutional restriction and barriers on capital flow in the financial markets, impose strict disclosure requirements and ensure that investors can easily access to high quality and reliable information. Improving liquidity of capital markets can provide lower borrowing costs for investors and greater opportunities for investment diversification with lower systematic risks. In addition, equity market liberalization is important to help achieving market development. It can reduce cost of capital and increase capital productivity with better capital allocation. Conclusion 6.1 Short Summary In conclusion, as two main schools of thought in modern financial theories, there is a hot debate between efficient market hypothesis and behaviour finance. EMH asserts that financial markets are informationally efficient and equity stock prices instantaneously and fully reflect all known information. While behaviour finance argues that psychological biases lead to investor irrationality and limits to arbitrage impede exploitation of mispricing opportunities, so market is not efficient. There are wide empirical researches on the issue of market efficiency in emerging markets with mixed results. It is generally found that most of emerging markets are still inefficient, but after correcting for institutional characteristics and trading conditions, such as thin trading and the presence of non-linearity, some researches find that equity markets are efficient for some countries such as for Istanbul, Egypt and Jordan. When structure break factors are taken into account, market efficiency i s powerfully rejected for most emerging countries such as Argentina, Brazil, Greece and India. There are also some evidence shows that duo to economic liberalization policies, many emerging markets are moving towards more efficiency such as Estonian, Lithuanian and Russia. 6.2 Limitations of Empirical Researches and Proposed Further Research However, there are some limitations involved in these empirical researches. Some researches ignore whether the distribution is normal or not. Others using equally weighted indices may bias the results. The possible auto-correlation might be due to the noise traders but doesnt imply return predictability (Cuthberston, 1996). Most of these studies focus on the test of time series of equity return to investigate EMH, but don not investigate the momentum effect or the profitability of technical trading to earn abnormal return. Therefore, further research can be extended in several dimensions. Firstly, it suggests trying to combine the tests of momentum effect or technical trading rules with the time series tests to make more robust conclusions. Secondly, since most of researches focus on traditional EMH, it can consider the factors of investor behaviour, such as psychologies bias and limits to arbitrage to do further in-depth testing of EMH. Finally, further researches for more novel and accurate methodologies of testing EMH are significantly essential. Weak Form Efficient Market Hypothesis For Emerging Markets Weak Form Efficient Market Hypothesis For Emerging Markets Literature Review The issue of market efficiency in emerging markets is of great significance for both foreign investors and policy makers in emerging economies. This project devotes large efforts to produce a thorough and in-depth literature review for this area. This topic is to be investigated from these aspects: theoretical foundation, methodologies of tests and empirical results. Firstly, traditional efficient market hypothesis (Fama, 1970; Makiel, 1973) and behavior finance theories developed in recent decades (Barbris, 1998; Shleifer, 2000) have formed two main schools of thought for the issue of market efficiency. Secondly, the evolution for a series of methodologies is important for testing market efficiency. Thirdly, the empirical evidence is reviewed by consideration three major factors: trade volume and non-linear behavior, structural breaks and market evolution through time. Finally, it also reflects some important policy implications for emerging markets. Many empirical studies have been widely carried to investigate the weak-form efficient market hypothesis for emerging markets, and the results are mixed. Generally, most of emerging markets are found to be inefficient. But for some countries, such as Istanbul, Egypt and Jordan, after correcting for institutional characteristics and trading conditions, such as thin trading and the presence of non-linearity, equity markets are found to be efficient. When structure break factors are taken into account, market efficiency is powerfully rejected for countries such as Argentina, Brazil, Greece and India. There is also evidence showing that initially emerging markets are inefficient, but over time they are moving toward to be more efficient, such as in Estonian, Lithuanian and Russia duo to economic liberalization policies. These results reflect some important policy implications. Infrequent trading and illiquidity of capital markets negatively affects market efficiency, so economic policy makers should devote efforts to minimize the institutional restriction and barriers on capital flow in the financial markets and to impose strict disclosure requirements, so that investors can easily access to high quality and reliable information. Improving liquidity of capital markets can provide lower borrowing costs for investors and greater opportunities for investment diversification with lower systematic risks. In addition, equity market liberalization is important to help achieving market development. It can reduce cost of capital and increase capital productivity with better capital allocation. Introduction: Due to the increasing globalization of financial markets, fast economic growth and adoption of financial liberalization policies for equity markets in emerging economies, it is widely indicated that equity investment in emerging economies can provide superior returns. Past decades have witnessed spectacular growth in both size and relative importance of emerging equity markets. The market capitalization of emerging market economies accounts for twelve percent of world market capitalization and has more than doubled, growing from less than $2 trillion in 1995 to $5 trillion in 2006 (Nally, 2010). By 2015, it is estimated that the combined GDP of emerging-market economies will surpass that of the top 20 developed economies (ibid). In addition, emerging market returns are weakly correlated with returns in developed markets, so international diversification with these emerging equities can give lower portfolio risks (Levy Sarnat, 1970). The potential high rates of returns and diversific ation benefits has attracted large number of foreign fund investors, so the investigation on whether emerging markets function efficiently is significantly important. By knowing degree of market efficiency, economy policy makers and regulators can gain insights to develop right institutional and regulatory frameworks to allocate scare resources efficiently, form favourable investment condition and obtain further economic growth. Therefore, this essay is going to investigate the weak-form market efficiency in emerging markets. The efficient market hypothesis by Fama (1970), Random Walk module by Makiel (1973) and behaviour finance theories are directed related to this issue and form the theoretical foundations. Section 1 will critically give the theoretical review based on the two schools of thought that are EMH and behaviour finance theories. Section 2 will give a brief review of methodologies adopted in literature review. Section 3 will give empirical review of the weak-form EMH for emerging markets. Section 4 will indicate some brief policy implications for emerging economies and section 5 is the conclusion with some directions for further research. Theoretic Review of EMH VS Behaviour Finance Efficient Market Hypothesis Fama (1970) defines an efficient financial market as one in which security prices always instantaneously and fully reflect all available information. No investors can earn expected abnormal return by analysing past known information. Market efficiency is attained by two key forces: investor rationality and arbitrage activities (Fama, 1970). EMH assumes that investors are rational and can process information correctly and efficiently. Although some investors are irrational and may overact or underact to new information, these judgement errors are independent and random, hence can cancel out each other without affecting prices (Fama, 1998). Therefore, on average, the whole market is efficient. In addition, since numerous profit-maximizing investors are competing to analyse, value and trade securities based on all available information to exploit arbitrage opportunities, on aggregate level, security prices are adjusted quickly to reflect the effect of new information (Fama, 1998). Secur ity prices are driven close to intrinsic values. Expected returns implicit in the current price of a security should reflect its underlying risk, and higher returns are earned only as compensations for bearing higher risk. There are two main modules that explain EMH: fair-game model and random walk model (RWM). The fair-game model is expressed as: Zj,t+1 =rj,t+1-E(rj,t+1à ¯Ã‚ ½Ã…“à Ã‚ ¤t), E(Zj,t+1à ¯Ã‚ ½Ã…“à Ã‚ ¤t)=0 (Copeland, Weston Shastri, 2005). Information in à Ã‚ ¤t is fully utilized to determine equilibrium expected returns. On average, the expected return on an asset E(rj,t+1à ¯Ã‚ ½Ã…“à Ã‚ ¤t) equals its actual return (rj,t+1), so that no expected abnormal return can be gained from past information. RWM gives much stronger condition for EMH. It assumes that successive price changes have a same normal distribution and are independent. Its logic is that because new information is unpredictable and reaches market randomly, so under EMH, the resulting security price changes must be also unpredictable and random (Malkiel, 1973; Malkiel, 2003). No profit can be made from past information. There are three sub-hypotheses of EMH depending on the level of available information set (Fa ma, 1991). Firstly, market is weak-form efficient when prices reflect all security market information such as historical prices. Secondly, market is semistrong-form efficient when prices reflect all public information such as corporate news and financial statements. Thirdly, market is strong-form efficient when prices reflect all public and private information. Behaviour Finance Theories Figure1: Conceptual Framework of Behaviour Finance Source: Shleifer (2000) However, behaviour finance challenges EMH because it argues that psychological biases lead to investor irrationality and limits to arbitrage impede exploitation of mispricing opportunities (Shleifer, 2002). Psychological bias results into systematic overreaction or underreacion among investors. Many behaviour finance theories have been successfully developed to explain some market anomalies. Conservatism biases lead people adjust slowly to new information and hence the underreaction to new information leads to short-run momentum, while representativeness heuristic makes investors believe that past good stock performance will continue and people overreact to information (Barberis, Shleifer Vishny, 1998). Additionally, overconfidence causes investors to overestimate the precision of their own analyses and to neglect public signals (Daniel, Hirshleifer Subrahmanyam, 1998). Under positive (negative) private signal (which is shown in following graph), informed investors overreact and se curity is overpriced (underpriced). When public information becomes available, biased self-attribution causes security to be even more overpriced (underpriced). Eventually, public information proves initial investment judgement is wrong, so price is driven back to intrinsic value (Daniel et al, 1998). It explains that overconfidence leads to short-run return momentum and price correction leads to long-run return reversal. Figure 2: Overconfidence and Self-attributed bias Source: Daniel, Hirshleifer Subrahmanyam (1998) Moreover, classification is a human natural instinct to process information (Barberis Shleifer, 2003). Investors naturally classify stocks by styles, so styles returns are highly positive correlated. There are two kinds of investors: style switchers and fundamental traders. Style switchers are unsophisticated investors and chase investment styles based on past relative stock performance. When there is good news about stock X (shown following graph), they will drain funds away from less attractive style Y. It will push up stock Xs price, even higher than its intrinsic value, but further reduce stock Ys price. However, fundamental traders recognize stock Y is underpriced (Barberis et al, 2003). They arbitrage away mispricing opportunities and drive overpriced stocks back toward intrinsic value. Figure 3: Switchers and Fundamental Traders Source: Barberis Shleifer, (2003) On the other hand, limits to arbitrage may obstruct information to be impounded into prices, duo to the fundamental risk and implementation costs. Noise trader risk would prevent rational investors from arbitraging (Delong, Summer Waldmann, 1990). Pessimistic noise trader drive price below intrinsic value, arbitrageurs can buy the asset, but bear risk of further deviation from the intrinsic value when noise traders become even more pessimistic and price goes down even further (Delong et al, 1990). Arbitrageurs usually have short horizon and must liquidate before price recovers, so they will incur loss. The agency problems between professionals and investors also affect arbitrage (Shleifer Vishny, 1997), so not all mispricing would be arbitraged away to lead market become efficient. However, Fama (1998) argues that behaviour finance theories do well only on the anomalies they are specially designed to explain and cannot be generalized to the entire market. Rubinstein (2001) also argues that investor overconfidence would make market à ¢Ã¢â€š ¬Ã…“hyper-rationalà ¢Ã¢â€š ¬?. Methodologies Adopted to Test the Weak-form EMH Empirical researches on testing weak-form EMH can be divided into three broad categories. Firstly, they tests security return independence. If time-series pattern of security returns shows insignificant (significant) autocorrelations, then weak-form EMH holds (is rejected) (Copeland, Weston Shastri, 2005). Secondly, they test return momentum effect. If portfolio of stocks with higher returns in the short past continues to earn higher abnormal returns in the subsequent short term, then short-run past returns contain information that could predict future returns, so EMH will not hold (Copeland et al, 2005). Thirdly, they test technical trading rules. If no trading rules that consistently derive abnormal profits can be found, then weak-form EMH holds. A series of research methodologies have been developed to exam the EMH. The runs test is non-parametric, which is used to determine whether successive prices changes are independent. Unit root tests involve three different methods to test the null hypothesis of a unit root: the Augmented Dickey-Fuller (ADF) test (1979), the Phillips-Peron (PP) test (1988) and the Kwiatkowski, Phillioh, Achmidt and Shin (KPSS) test (1992). Multiple variance ratio (MVR) tests are adopted to detect autocorrelation and heteroskedasticity in returns (Chow Denning, 1993). Empirical Results of Weak-form EMH for Emerging Markets The research results for testing weak-form efficiency on the emerging markets are mixed. World Bank study reports significant market inefficiency for 19 emerging equity markets (Claessens, Dasgupta Glen, 1995). Latin American emerging markets of Argentina, Brazil, Chile, and Mexico are weak-form EMH (Urrutia, 1995), but under the variance ratio test, RWH is rejected (Ojah Karemera, 1999). Under ADF test, EMH is also generally supported for six Latin American stock markets (Choundhry, 1997). For the emerging markets in Asia, major Asian markets are weak-form inefficient, such as Korea and Taiwan (Cheung, Wong Ho, 1993), Singpore and Thiland (Huang, 1995), but some find it is efficient for Hong Kong, Singapore and Japan (Chan, Gup Pan, 1992). When the observed index levels are used, both RWH and EMH are rejected for three equity markets of Saudi Arabia, Kuwait, and Bahrain after adjusting for infrequent trading , but when the corrected true indices are used, RWH is accepted (Abraha m et al, 2002). RWH is rejected in five Middle Eastern emerging markets, Jordan, Morocco, Egypt, Israel, and Turkey (Omran and Farrar, 2001). Weak-form efficiency is rejected for Saudi and Palestinian financial market and inefficiency might be due to delay in operations and high transaction cost, thinness of trading and illiquidity in the market (Nourredine Kababa, 1998; Award Daraghma, 2009). Many researches find that emerging markets are becoming more efficient due to the liberalization policies. Istanbul stock exchange was inefficient in the early times but it becomes more efficient as the country started liberalization and deregulation (Antonios, Ergul Holmes, 1997). 4.1 Thin Trading and Non-linearity It is argued that such mixed evidences of the weak-form EMH in emerging markets are only reliable if the methodologies adopted take accounts for the institutional characteristics and trading conditions of the markets, such as thin trading and the presence of non-linearity (Antoniou, Ergul Holmes, 1997). Ignoring these factors may lead to statistical illusions regarding efficiency. The conventional tests of efficiency based on linear model have been developed to test markets with high levels of liquidity, sophisticated investors with access to reliable information and few institutional impediments (Antoniou, Ergul Holmes, 1997). Therefore they are not suitable for testing EMH for emerging markets with characteristics of thin trading, low liquidity and less well informed investors with access to unreliable information. Thin trading will bring serious serial correlation (Fisher, 1996), so the observed dependence does not necessarily represent serial correlation among securities return s. In addition, prices responds to information in a non-linear behavior especially during the early development stages of emerging markets (Schatzberg Reiber, 1992), so if the return generating process is non-linear but a linear model is used to test efficiency, then EMH may be wrongly accepted. This is because non-linear systems such as à ¢Ã¢â€š ¬Ã…“chaoticà ¢Ã¢â€š ¬? ones look very similar to a random walk (Savit, 1988). However, the conventional tests cannot recognize this problem. There are several reasons for the existence of non-linear reaction of price to information in emerging markets. Transaction costs are high, information is relatively not reliable and market is illiquid or there are restrictions on trading (Stoll Whaley, 1990). As a result, investors do not always respond instantaneously to the information, which contradicts the assumptions of investor rationality and linear response of price. Scheinkman and LeBaron (1989) and Peters (1991) also empirically support th e non-linearity of stock returns. A number of studies have researched the impact of thin trading (Fisher, 1966; Dimson, 1979; Cohen, 1978; Lo Mackinlay, 1990). Many empirical studies also have taken account of the non-linearity in price series and remove the impact of thin trading by the AR (1) model proposed by Miller (1994). Antoniou, Ergul and Holmes (1997) find that there is apparent predictability of stock returns for Istanbul stock market, but after considering the impact of thin trading, the random walk hypothesis is accepted and the market is informationally efficient for 1990 onwards. Abuzarour (2005) examines the effect of non-trading on market efficiency for three emerging Arabian equity markets: Jordan, Egypt and Palestine using the variance ratio test and the run test during the period of 1992 and 2004. Both random walk hypothesis and weak form efficiency are rejected when the observed index levels are used. However, when the indices are corrected by the Miller, Muthuswamy and Whaley methodologies (1994 ) to take account for thin trading, weak-form EMH is accepted for Egypt and Jordan stock market but it is still rejected for Palestine. All these empirical researches suggest that markets become more efficient when trading volume is high, information is much reliable and institutional frameworks are appropriate. 4.2 Structural Breaks Research on efficiency for emerging markets should not only take account for institutional characteristics and trading conditions, but also should take account for the structural breaks in the underlying series that arise from the liberalization. Ignoring structural breaks can lead to wrong inference that these indices are following random walks. Many emerging countries are liberalizing their financial markets with various degrees (IFC, 1997) and such structure changes would have affected their equity markets (Bekaert et al, 2002; Henry 2000). For instance, huge shocks occurred for equity index level for Greece, Malaysia and Philippines in late 1980s and early 1990s, which are around the same year of their market liberalization. As Perron (1989) have demonstrated that traditional standard tests for RWH in stock prices have low power against the alternative hypothesis in small samples, and the problem is especially serious when structural changes are involved. Thus failure to consider these breaking points may wrongly support the RWH. Therefore, many empirical researches try to incorporate the structural breaks factor by more powerful test methods, such as the Zivot- Andrew sequential test (Zivot Andrew, 1992). Chaudhuri and Wu (2001) adopt both the standard ADF test and Zivot- Andrew sequential method to test the EMH in seventeen emerging markets: Argentina, Brazil, Chile, Colombia, Greece, India, Jordan, Korea, Malaysia, Mexico, Nigeria, Pakistan, Philippines, Taiwan, Thailand, Venezuela, and Zimbabwe. Results for the ADF test without breaks to each series tend to show non-rejection of the RWH. However, results for the Zivot- Andrew test with structural breaks show that RWH can be powerfully rejected at the one percent significant level in ten markets: Argentina, Brazil, Greece, India, Malaysia, Mexico, Nigeria, Philippines, Taiwan and Zimbabwe (Chaudhuri Wu, 2001). 4.3 Market Evolution Although structural breaks have been taken into account in many researches, it is argued that standard techniques are still not fit to test the weak-form EHM for emerging market, because they are not able to evaluate the evolving efficiency in emerging markets. It is also argued that methods such as a time varying parameter model and Kalman Filter technique not only can indicate the movement of stock returns from inefficiency to efficiency, but also can measure the timing of the movement towards full efficiency(Rockinger Urga, 2000; Zalewska-Mitura Hall, 1999). It is generally agreed that emerging markets are evolving from inefficiency to efficiency with the higher disclosure degree of firm practices, high trading volume and lower institutional barriers to trade (Cornelius, 1994). According to Laurence (1986), the methods of OLS or GMM test market efficiency over the whole period and hardly capture the tendency towards efficiency, so under these methods, early inefficiency would wr ongly lead to the conclusion that there are profit opportunities based on the past asset price movement. In addition, the variance of the error process in the conventional test models is not constant over time, so if this changing variance structure is omitted and has a serial correlation property, then market efficiency would be incorrectly rejected (Hall Urga, G2002). Hall and Urga (2002) deal with these problems by using the Kalman Filter and combing the time varying parameter model with a standard GARCH-M model (generalized autoregressive conditional heteroscedasticity in mean). They apply this procedure to the two indexes of Russian stock market from 1995 to 2000. And find that with regard to RTS index (Russian Trading System), the market is initially inefficient and it takes about two and a half years to become efficient, while for the ASPGEN Index (Skate Press Agency General), the market is still predictable. There is evidence of a tendency towards being efficient. Kvedaras and Basdevant (2002) also investigate the market efficiency in the three Baltic States: Estonia, Latvia and Lithuania by using the time-varying variance ratio statistic robust to heteroscedasticity based on time-varying autocorrelations. They find a clear trajectory to weak-form efficiency in the Estonian and Lithuanian capital markets. Its relatively small inefficiency ca n be explained by transaction costs and information acquiring costs (Grossman and Stiglitz, 1980). In the Latvian market, it is inefficient even at the very end of the analyzed period. Policy Implications These results have some important implications for developing effective institutional and regulatory frameworks. Since infrequent trading negatively affects market efficiency and liquidity in emerging markets, economic policy makers should pay attention to minimize the institutional restriction and barriers on capital flow in the financial markets, impose strict disclosure requirements and ensure that investors can easily access to high quality and reliable information. Improving liquidity of capital markets can provide lower borrowing costs for investors and greater opportunities for investment diversification with lower systematic risks. In addition, equity market liberalization is important to help achieving market development. It can reduce cost of capital and increase capital productivity with better capital allocation. Conclusion 6.1 Short Summary In conclusion, as two main schools of thought in modern financial theories, there is a hot debate between efficient market hypothesis and behaviour finance. EMH asserts that financial markets are informationally efficient and equity stock prices instantaneously and fully reflect all known information. While behaviour finance argues that psychological biases lead to investor irrationality and limits to arbitrage impede exploitation of mispricing opportunities, so market is not efficient. There are wide empirical researches on the issue of market efficiency in emerging markets with mixed results. It is generally found that most of emerging markets are still inefficient, but after correcting for institutional characteristics and trading conditions, such as thin trading and the presence of non-linearity, some researches find that equity markets are efficient for some countries such as for Istanbul, Egypt and Jordan. When structure break factors are taken into account, market efficiency i s powerfully rejected for most emerging countries such as Argentina, Brazil, Greece and India. There are also some evidence shows that duo to economic liberalization policies, many emerging markets are moving towards more efficiency such as Estonian, Lithuanian and Russia. 6.2 Limitations of Empirical Researches and Proposed Further Research However, there are some limitations involved in these empirical researches. Some researches ignore whether the distribution is normal or not. Others using equally weighted indices may bias the results. The possible auto-correlation might be due to the noise traders but doesnt imply return predictability (Cuthberston, 1996). Most of these studies focus on the test of time series of equity return to investigate EMH, but don not investigate the momentum effect or the profitability of technical trading to earn abnormal return. Therefore, further research can be extended in several dimensions. Firstly, it suggests trying to combine the tests of momentum effect or technical trading rules with the time series tests to make more robust conclusions. Secondly, since most of researches focus on traditional EMH, it can consider the factors of investor behaviour, such as psychologies bias and limits to arbitrage to do further in-depth testing of EMH. Finally, further researches for more novel and accurate methodologies of testing EMH are significantly essential.