Curriculum Development

AN OVERVIEW OF CURRICULUM Introduction Ever since the term educational plan was added to instructors' vocabularies, it has appeared to pass on numerous things to numerous individuals. To a few, educational program has signified a particular course, while to others it has implied the whole instructive condition. While impression of the term may differ, it must be perceived that educational program envelops in excess of a straightforward definition. Educational plan is a key component in the instructive procedure; its extension is amazingly wide, and it contacts practically each and every individual who is engaged with educating and learning.Origin of Curriculum The possibility of educational program is not really new †however the manner in which we comprehend and estimate it has adjusted throughout the years †and there stays significant debate as to importance. The word educational program started in antiquated Rome as a chariot race course. Julius Caesar discussed which gro up of ponies, driver, chariot would have the option to run the educational program quickest. It was, truly, a course. In Latin educational plan was a dashing chariot; currere was to run. â€Å"Currere is gotten from the Latin infinitive action word that implies ‘to run the racecourse.Historical Definitions of Curriculum Historical definitions commonly imagine educational plan as an arranged succession of learning or instructional encounters that an understudy/student is exposed to under the support of the school. To be certain these definitions constrained the utilization of curricular encounters to the school setting. Developing definitions have taken a gander at educational plan all the more extensively. As per Connelly and Clandinin educational program â€Å"can be seen as an individual's beneficial encounter. † This definition sees merit because of the change in technology.Connelly and Clandinins’ definition came quite a few years after Smith, Good, Taba, Fo shay and Tanner. Innovation has affected the medium wherein educational program is conveyed. There is no â€Å"traditional way† any longer. â€Å"One's life course of action† will figure out what will be concentrated and how. Impacts and Developments Curriculum has had solid verifiable roots. From before Tyler created the significant inquiries that we pose about educational program (Tyler,1949), scholars have been worried about the manners by which educators and schools plan learning encounters for all learners.These pre-occupations have affected the improvement of Curriculum hypothesis from the beginning. Constantly, educational program has for some time been impacted by factors outside of the school. Such impacts incorporate history, society, brain research and governmental issues. Social and Political Influences and Curriculum Evolution Social and political improvements have persistently added to thoughts regarding the segments and meanings of educational plan. When the new century rolled over Franklin Bobbit developed his meaning of educational plan based on destinations dependent on grown-up work life (Bobbit,1918).Social accentuation was on the headway of science and industry this methodology additionally impacted the educational plan hypotheses of different masterminds of the time. John Dewey's meaning of educational plan which however an increasingly dynamic in that it concentrated on learning by doing as opposed to repetition learning and obdurate guidance likewise kept up some impact from this region of science and industry. In 1891 William Torrey Harris presented sorted out learning and learning with course books. Has reasonable utilization of a systematization of the educational program laid the foundation for an industrialized model of educational plan implementation.Other cultural impacts to the educational plan incorporate lawful choices and government strategy. Earthy colored v. Leading body of Education was a milestone case throu ghout the entire existence of American training. The case was in light of get-togethers which dug in racialized tutoring and educational program in the United States. From the 1892 Plessy v. Ferguson case, the point of reference of â€Å"separate yet equal† was set, bringing about independent schools for white and dark kids. The Brown choice set up for increasingly forceful unified dynamic at the Federal level with respect to open education.It set up for Congress to pass the Civil Rights Act of 1964 and the Elementary and Secondary Education Act of 1965. Moreover, it is far-fetched that the Department of Education would have been built up in 1979, were it not for the Brown choice in 1954. Social and political impacts have added to training having ordered standards. There are ordered occasions that are designated for each subject just as commanded subjects. In numerous divisions, for example, nearby school areas and educational committees, educational plan is viewed as the aut hority composed archive from the higher authority.Such a report is viewed as an ordered format that must be trailed by all instructors. Innovation Advances Technological change is rethinking how we convey, yet thus, is reclassifying how we have to teach. The prepared accessibility of data has diminished the need for an educational plan that is instructor focused and attached in the expect to get ready residents for a mechanical society. The advancement of logical aptitudes and higher request believing is progressively a significant focal point of the cutting edge curriculum.The partners and intrigue bunches in this procedure are numerous and differed, with pressure for change and change brought from instructors, schools and school boards, government specialists, industry and understudies themselves. All have contrasting points of view on the best educational program arranging models to manage this change. As innovation propels and the world experiences huge changes, scholars will re classify definitions. Impacts of future occasions will manage new definitions. It would just bode well for the meaning of educational plan to change as advances have been made on the planet and will keep on being made.A genuine scientist or scholars will gather new information, lead new investigations to challenge and add to the starting organizers meanings of educational plan. As you read and research you to will either make or adjust your own meaning of educational program and this definition will be a consequence of what is happening on the planet, your monetary status and your perspectives on instruction. New innovation based definitions would incorporate wording to suit the occasions. In getting ready for the working scene, which at present is specialized, educational program would incorporate electronic, modernized verbiage.What was once known as a course reading will get ancient. Increasingly more PC based learning is happening and educational program will be intended to enco urage future fundamental abilities. Figure 1: source: http://en. wikibooks. organization/wiki/File:Curriculum_Definitions. jpg Definitions of â€Å"Curriculum† Definitions of the educational plan shifts from the least difficult posting of subjects to be taken for a specific program or degree to the most mind boggling definition as a learning experience to accomplish a specific instructive objective. This likewise proposes there is no all around acknowledged meaning of the term curriculum.Allan Glatthorn (1987, p. 1) said : â€Å"Even specialists can’t concur on what educational plan implies. Underneath you will discover a rundown of meanings of educational plan. 1. John Kerr characterizes educational program as, ‘All the realizing which is arranged and guided by the school, regardless of whether it is carried on in gatherings or independently, inside or outside the school. (cited in Kelly 1983: 10; see additionally, Kelly 1999). This gives us some premise to pro ceed onward †and for the second we should simply feature two of the key highlights: a. Learning is arranged and guided. We need to determine ahead of time what we are looking to accomplish and how we are to go about it. . The definition alludes to tutoring. We ought to perceive that our present energy about educational program hypothesis and practice rose in the school and according to other tutoring thoughts, for example, subject and exercise. 2. Allan Glatthorn characterizes educational program as an arrangement made for managing learning in schools, as a rule introduced in retrievable reports of a few degrees of sweeping statement, and the usage of those plans in the study hall; It likewise incorporates those encounters that occur in a learning situation that additionally impacts what is found out. Glatthorn,) According to Flordeliza Reyes, (Engineering the Curriculum) Glatthorn’s definition is thorough in light of the fact that it covers both the educational program plans (guides) and their usage (guidance). Reyes likewise focused on that the confinement of Glatthorn’s definition is that it prohibits learning encounters, which are arranged by the educational plan designer or by the instructor, however are not introduced in composed structure or records. (P. 1) 3.Flordeliza Reyes characterized educational plan as the totality of curricular substance (topic) and learning encounters the student experiences to accomplish expected instructive purposes or results against which his advancement will be assessed. (In the same place. , ) Inherent in Reyes’ definition are the four essential anatomical segments of the educational plan: a. Instructive purposes or proposed instructive results; b. Curricular substance or topic secured by the educational plan; c. Learning encounters the understudy experiences; and d. Assessment plan to evaluate the degree to which the instructive purposes or learning results have been accomplished. . A few creato rs characterize educational plan as the absolute exertion of the school to realize wanted results in school and out-of-school circumstances. It is likewise characterized as a succession of potential encounters set up in school to train youngsters and youth in bunch perspectives and acting. a. Howell and Evans characterize educational program an organized arrangement of learning results or undertakings that instructors for the most part call objectives and goals (1995). While different essayists characterize educational program as the â€Å"what of teaching†, or â€Å"listing of subjects to be instructed in school. † b. an arrangement or program for all the encounters that the pioneer experiences under the course of the school. † Peter F. Oliva (1997, p. 8) c. â�

Auditory neuropathy paper Essays

Sound-related neuropathy paper Essays Sound-related neuropathy paper Essay Sound-related neuropathy paper Essay Presentation Sound-related neuropathy ( A ) is characterized as a sensorineural hearing surprise portrayed by a missing or gravely unnatural audile mind stem reaction ( ABR ) , in perniciousness of necessary otoacoustic spreads ( OAEs ) ( Madden et al. 2002 ; ( Dowley et. al 2009 ) . AN is related with weakened hearing on conduct unadulterated tone audiology, missing acoustic physiological responses, and hapless location affirmation, unconventionally in boisterous conditions ( Dowley et. al 2009 ) . An old review ( Madden et.al 2002 ) , clinically characterizes AN as hearing misfortune, typically respective, of any evaluation ; ordinary external hair map as confirm by the nearness of OAEs as well as cochlear microphonics ( CM ) ; unnatural evoked potencies get bringing down with wave 1 of the ABR ; hapless location perceptual experience ; and missing acoustic physiological responses to the ipsilateral and contralateral tones at a 110dB hearing degrees. Sound-related neuropathy has gotten perceived in the pediatric populace, dominantly after the introduction of infant hearing indicating preliminaries. In spite of the fact that the pervasiveness of AN is non known, general accord recommends that main part of occasions exist in the number of inhabitants in neonatal serious consideration unit ( NICU ) graduates ( Khairi et al. 2009 ; Dunkley et Al. 2003 ) . They likely site of A pathology is the cochlear nervus, and by offices of restoration using cochlear inserts yields great outcomes ( Miyamoto et al. 1999 ; Madden et Al. 2002 ; Raveh et Al. 2007 ) The conceivable advantage of cochlear nidation in audile neuropathy up to this point is a detached request. An ongoing study ( blah pomposity ) , proposes that cochlear inserts may hold a significant capacity in bearing of AN. Cochlear inserts give supraphysiologic electrical incitement to the sound-related nervus and may better the synchronism of the anxious action ( Raveh et. al 2007 ) . Four old surveies ( Miyamoto et al. 1999 ; Madden et Al. 2002 ; Peterson et Al. 2003 ; Mason et Al. 2003 ) , have revealed improved audiological open introduction, great embed evoked mind stem reactions, each piece great as great NRT after nidation. We present two examples of A, who abdominal muscle initio introduced to our facility with intrinsic hearing misfortune. After appraisal these two occurrences took divide in the Libyan cochlear embed program ( LCIP ) and were effectively introduced with cochlear inserts. In this paper we talk about their introduction, audiological outcomes, their progression after nidation and the capacity of cochlear embeds toward sound-related neuropathy Subjects Two male patients, matured five and six severally, who gave inherent hearing misfortune and were later found to hold safeguarded OAEs and missing ABRs were examined. They stomach muscle initio gave illnesses of .. These two cases had positive family unit narratives of hearing misfortune each piece great as associated related guardians of the first grade. Table 1 shows the full profile of both these patients. These two patients were thought of Conversation General course of sound-related neuropathy as of recently is as yet dangerous. In a perfect world, cochlear inserts ought to be embedded in the first twelvemonth of life in quite a while with sensorineural hearing misfortune ( SNHL ) . However, a little gathering of patients with A show self-created improvement during the main twelvemonth of life, suggesting that the assurance sing cochlear nidation ought to non be made before the principal twelvemonth of life ( Raveh et al.2007 ) . A figure of surveies ( Madden et al. 2002 ; Dowley et Al. 2009 ) feature the worth and need of neonatal appearing of hearing misfortune. The consolidated utilization of ABRs and OAE are very suggested in the testing of all children analyzed as holding SNHL ( Madden et al. 2002 ) . In any case, some contention encompasses the issue of which method of examination ought to be utilized in the indicating strategy. Complete future research on which explicit preliminary is generally useful in the detecting of AN is as yet expected to indicate the perfect test for in neonatal appearing. Because of monetary conclusions, we have been not able to set up any signifier of national, or even neighborhood of neonatal appearing for hearing misfortune. Notwithstanding, Connection is extremely basic in certain subpopulations in Libya. It is related with a combination of intrinsic surprises, including hearing misfortune and, as exhibited here in A ( Raveh et al.2007 ) .

Account of buisness Assignment Example | Topics and Well Written Essays - 1250 words

Record of buisness - Assignment Example 1). Both investigation results structure a reason for examining and breaking down whether ABC can work for littler organizations as they surrender the ordinary costing framework. The accompanying paper examines whether SMEs are prepared to receive the action based costing framework as a successful device to accomplish the ideal degree of cost investment funds and productivity. To start with, ABC isn't extremely well known among companies today. Considering numerous SMEs follow the operational patterns of partnerships with the aim of arriving at their degrees of accomplishment through cost reserve funds, the notoriety of ABC among organizations is important (Fladkjã ¦r and Jensen, 2011, p. 3). As per CIMA, ABC is a methodology for the costing and checking of exercises that involve drawing asset utilization and costing last items. Organizations dole out assets to exercises, and exercises to cost things dependent on utilization approximations (Chapman et al., 2011, p. 669). As per Henrik Fladkjã ¦r and Erling Jensen, SMEs only sometimes actualize the ABC framework because of two key reasons. To start with, ABC is difficult to apply. Second, the information reason for ABC isn't available in the required quality in ERP frameworks utilized by SMEs (Fladkjã ¦r and Jensen, 2011, p. 21). An exceptionally serious worldwide economy adds to SMEs’ status to actualize ABC. A serious economy urges SMEs to bring down the cost of their items or administrations by raising yield, improving item or administration costing, or both. Moves identified with the move from customary costing frameworks to ABC cause paces of receiving ABC to linger behind companies (Joã £o and Machado, 2012, p. 179). Scientists Owen Hall and Charles McPeak note these difficulties as the expense of applying ABC, approximating the upsides of the ABC framework, and consolidating ABC into the general administration diagram. Thus, the Hall and McPeak prescribe SMEs to consider factors that influence a business’ capacity to apply new aptitude. These elements are hierarchical readiness, financial

Cultural studies project on Media Essay Example | Topics and Well Written Essays - 500 words

Social investigations venture on Media - Essay Example The King of Queens is an Emmy assigned arrangement that ran from 1998 to 2007. It features the life of industrial couple Doug and Carrie Heffman, as they battle with work and different issues. Monstrous Betty is especially intriguing in light of the fact that it speaks to the cliché vagrant Mexican family, battling to make a decent living in America. Betty was conceived of and lives with her poor yet upstanding family, which includes her dad, her more established sister and her young, gay nephew. They are not the commonplace average workers family for an assortment of reasons. While by and large, common laborers families are depicted as circumspect and plotting, Betty's family, most particularly her dad (whose qualities Betty attempts to take after) are the paragons of profound quality in the show. Setting them against the high-paced, barbarous style world where Betty works, they wind up taking care of a large portion of their issues and the issues of everyone around them, regularly without trading off their qualities. Additionally, Betty's family remains unblemished and cherishing in the midst of the entirety of the dramatization. For the most part, when a common laborers family is the subject of a network show, inner clashes and uber-sensational exits and falling outs inside the family is the primary drive of the story.

Train like a boss Preparing for the mental and physical rigors of leadership

At the world’s largest global corporations, chief executives are paying more attention than ever to their health, and learning to train like professional athletes for the physical as well as mental rigors of their roles. In the aftermath of the global financial crisis, senior directors at McKinsey Company, where I was then employed, noticed a recurring theme in conversations with CEOs. In meeting after meeting, leaders of big Fortune 500 firms said they felt â€Å"overwhelmed.† Running a giant multinational company, chief executives complained, had gotten harder than ever: the pace was faster, markets more volatile, problems more complex. Those conversations prompted McKinsey to launch a sweeping study of changing requirements for successful leadership in the 21st Century. I was assigned to the task force that did the research. For nearly a year, we interviewed scores of chief executives from big companies all over the world to understand how they coped with the rigors of their jobs. Some of what we learned is summarized here. But to me, the most surprising discovery was how many chief executives said work pressures had forced them to pay more attention to their physical wellbeing. Fitness in the face of a VUCA business environment Many of the executives we spoke with confessed significant difficulty in combatting the strain of travel, jet lag, information overload, and the risk of burnout. Its unsurprising  in an era where technology means senior executives are on-call 24/7. Over and over, CEOs told us they had responded to those challenges by developing highly disciplined programs for diet and exercise. There was Moya Greene, CEO of Britain’s Royal Mail, who described her morning workouts as a crucial part of her day. I start at five in the morning, she said. The alarm goes off and I’m up. I go for a 30-minute run. I do weight training three mornings a week. I get a good walk every weekend. Or Mark Frissora, then CEO of Hertz, who said he never missed a workout. â€Å"Every day I do something to relieve stress, he explained. It could be lifting weights, it could be running, or maybe it’s just punching a punching bag. It’s an hour every day. Among the most committed C-suite athletes at the time was Carlos Ghosn, Chairman and CEO of two giant automakers,  Nissan Motors and Renault. His dual roles required him to shuttle to Tokyo, Paris, and a host of other destinations every month. I have to be very disciplined about organizing everything, he said. Physical discipline is crucial, for food, exercise, and sleep. I live like a monk—well, maybe not a monk, but a Knight Templar. I wake at a certain hour, sleep at a certain hour, and there are certain things I won’t do past a certain time.† I live like a Knight Templar. I wake at a certain hour, sleep at a certain hour. Carlos Ghosn, Chairman and CEO, Renault/Nissan It didn’t take much effort to identify other C-suite fitness fanatics: Citigroup CEO Michael Corbat, a self-professed devotee of the Spartacus Workout; former Starwood Hotels Resorts CEO Frits van Paasschen, a vegan triathlete whose punishing morning workouts earned him the title of â€Å"America’s most fit CEO†; Vogue editor-in-chief Anna Wintour, who plays an hour of tennis before her 6:45 a.m. hair appointment; Disney CEO Bob Iger, who rises at 4:30 a.m. for his workout, and logs long hours on a gizmo called the VersaClimber. Some of corporate America’s most powerful executives—including former General Electric CEO Jack Welch, entertainment mogul David Geffen, financier George Soros and former Federal Reserve chairman Paul Volcker—pump iron at Sitaras Fitness, the exclusive private gym across the street from the midtown headquarters of Bloomberg News. Tech geeks too are fitness freaks. Among them: Apple CEO Tim Cook, Facebook founder Mark Zuckerberg and Oracles Larry Ellison. On the other side of the Pacific, Jack Ma, founder of China’s biggest online retailer, is a master of tai chi, a form of Chinese martial arts. He trains daily with his bodyguard, the grand master from the largest tai chi temple in Ma’s hometown of Hangzhou. A departure from the heavyweights of the past All this sweating and straining is a far cry from capitalism’s early days, when business heavyweights often were just that. The portly profiles of J.P. Morgan and Andrew Carnegie inspired Gilded Age caricatures of businessmen as double-chinned, cigar-chomping tyrants. As recently as two decades ago, sacrificing one’s health was more or less accepted as the price of climbing the corporate ladder. Getting ahead meant living at the office, and lots of smoking and drinking with colleagues after hours—all of which took a predictable toll on executive physiques. Not for nothing did Mad Men star Jon Hamm rock a â€Å"dad bod† for his role as martini-quaffing ad executive Don Draper. One sign of a shift in attitudes about executive health came in January 2001, when Harvard Business Review published an essay entitled â€Å"The Making of a Corporate Athlete.† The authors, psychologist Jim Loehr and executive coach Tony Schwartz, argued that management experts had neglected the influence of physical capacity on executive performance. Executives, they argued, should train for the rigors of their role just like an aspiring Olympian or professional basketball player. The demands on executives to sustain high performance day in and day out, year in and year out, wrote Loehr and Schwartz, dwarf the challenges faced by any athlete we’ve ever trained. The demands on executives to sustain high performance day in and day out dwarf the challenges faced by any athlete we’ve ever trained. Jim Loehr and Tony Schwartz, Executive performance experts   In the almost two decades since, dad bods have fallen out of fashion for CEOs, and executive fitness has become a multi-billion dollar industry. Hospitals and health clinics the world over have found a lucrative niche in operating â€Å"executive wellness† programs tailored to the needs of high-powered managers on the go. A correlation between fitness and leadership ability? In the modern workplace, overt discussions of weight and physical fitness are fraught with peril. But the relationship between physical health and effective leadership is generally accepted—albeit the subject of recurrent debate. In 2015, two German scholars sparked controversy with a study finding marathon runners make better CEOs. Other studies have suggested that staying fit can improve an executive’s chances of being selected for a senior leadership role. Research by the Center for Creative Leadership found that executives with big waistlines and higher Body Mass Index (BMI) readings were perceived as less effective in the workplace, both in performance and in interpersonal relationships. Some corporate boards have come to put increasing emphasis on the physical health of candidates for top management roles. Some also note that today’s CEOs have much higher public profiles than their predecessors, and thus are assumed to be more effective communicators if they â€Å"look the part† on camera. Barry Posner, a leadership professor at Santa Clara’s Leavey School of Business, told the Wall Street Journal he was hard-pressed to name a single overweight Fortune 500 CEO. My (completely unscientific) Google searches of photos of CEOs from the top 100 companies suggest he’s right. It’s possible that at smaller, lower-profile firms, the correlation between fitness and seniority goes the other way. Loehr, co-author of the â€Å"corporate athlete† essay, estimates that 40% of CEOs are technically obese. That’s about seven percentage points higher than the obesity rate for the overall U.S. population. The problem with chief executives, Loehr argues, is that they’re busy and stubborn, and the demands of their role encourage unhealthy behavior. Ultimately, physical fitness isnt a guarantee  of professional success. Van Paasschen, â€Å"the world’s fittest CEO,† left Starwood in February 2015 under fire for disappointing revenue growth. But you don’t have to be a triathlete to stay fit or a cardiologist to recognize that a regular exercise program, if you can stick to it, will improve your mental wellbeing and performance on the job. Interested in developing your leadership capabilities? Download a brochure  to find out how a Hult degree can equip you with the skills you need to lead in todays global business environment. Grow your leadership capabilities with an MBA in international business at Hult. To learn more, take a look at our blog Are you an inclusive leader? or give your career a boost with our Masters in International Business. Download a brochure or get in touch today to find out how Hult can help you to learn about the business world, the future, and yourself. Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021 Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021"> During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . Happy New Year, Hultians! . Happy New Year, Hultians! .

Exchange Rate Exposure And Systems In Emerging Markets Finance Essay - Free Essay Example

Exchange rate is the rate of one currency into another. In other words, it has the value of the currency of another country than their own. If you are traveling to another country, you need to buylocal currency. Like any asset prices, the exchange rate is the price, you can buy that currency. If you are traveling to Egypt, for example, the dollar exchange rate of 1:5.5 Egyptian pounds, which means that for every dollar that you can buy five and a half Egyptian pounds. In theory, the same assets should sell at the same price in different countries, because the intrinsic value of the exchange rate to maintain a currency of another. Over the past few decades have witnessed great turbulence in the practice of the exchange rate, the worlds countries: the collapse of the Bretton Woods system, inevitably, through a period of clean and dirty floating, through the wooden pegs, the depreciation of the denied, and more devaluation caused by the floating exchange rate depreciation, the currency board, and the emergence of a common currency in most European countries. Large exchange rate fluctuations or different policies in sharp contrast to the more knowledge-through the slow progress in the logic o f economic models and the accumulation of evidence-about alternative exchange rate systems. Not the growth of this knowledge to create a consensus, is not so far, policy-we follow, but there are many places we have slipped to the policy between the application of knowledge, because I will discuss-but thoughtful policy analysis modeled after the process overwhelmed by neglect or cast a vote against the less-than-critical staring at the requirements in the exchange rate and exchange rate systems on a variety of politicians, bureaucrats, reviews, and academics. 1.2 Fixed exchange rate Under a fixed exchange rate, sometimes called the pegged exchange rate system, is a type of exchange rate regime, the currencys value should the value of other single currency or a basket of currencies of other countries, or other measure of value, Such as gold. Typically use fixed exchange rate stability is the value of a currency pegged to the dollar the currency. Trade and investment, which makes the predictability between the two countries, but more relaxed, more especially for small economies where the form of foreign trade most of GDP (gross domestic product). It can also be used as a means to control inflation. However, when the reference value rises and falls, then the currency pegged to the dollar. Furthermore, according to Mundell Fleming model with perfect capital mobility, fixed exchange rate to prevent government use domestic monetary policy to achieve macroeconomic stability. 1.3 Floating exchange rate Significant fluctuations in exchange rates or floating exchange rate is a type of exchange rate regime, allowing the value of money is based on the fluctuations in the foreign exchange market. A currency, called the use of a floating exchange rate floating exchange rate. Some economists believe that in most cases, better fixed exchange rate floating exchange rate. To automatically adjust the floating exchange rate, they make an impact to curb the impact of national and foreign business cycles, and even the possibility of pre-emptive strike a balanced international balance of payments crisis. However, in some cases, the fixed exchange rate may be more stable and more suitable to grasp. This may not necessarily be true, consider the results of the country, trying to bring the price of RMB strong or high compared to other countries such as Britain or the Asian currency crisis in Southeast Asian countries. Choose between the debate between fixed and floating exchange rate regime is proposed, they argue Mundell Fleming model cannot simultaneously maintain a fixed exchange rate of the economy, free capital movement, an independent monetary policy. Can choose any two control and left the third to market forces. Appreciation or depreciation in extreme cases, central banks usually intervene to stabilize the currency. Therefore, the floating exchange rate monetary system is known as the more specialized a managed float. The central bank may, for example, allowing the currency to float freely on price, between the lower bound, the price ceiling and House. Management of the central bank may be a large number of different ways to buy or sell, in order to provide price support or resistance, or, if the currency of some countries, there may be legal sanctions in the context of these transactions. 1.4 Fixed exchange rate versus Floating exchange rate The floating exchange rate is with the various advantages. First, in the floating exchange rate automatic correct as country just make it free movement of supply and demand balance. Secondly, from external economic activities of insulation as national currency is not dependent on a possible world high inflation under fixed exchange rates. Demand and supply the free flow of help from the world economy fluctuation on the domestic economy. Third, governments can freely choose them as a floating exchange rate policy, will allow domestic any payment imbalance of balance, possible domestic policy implementation automatic correction. Nonetheless, there are also specific concerns about the exchange rate being unstable and uncertain under the floating exchange rate regime. Also, speculation tends to be higher in the floating exchange rate regime, hence leading to more uncertainty especially for traders and investors. Despite its rigidity, the fixed exchange rate regime is still used f or several reasons. First, there is certainty in fixed exchange rate. With it, international trade and investment becomes less risky. Second, there is little or no speculation on a fixed exchange rate. However, a fixed exchange rate contradicts the objective of having free markets and it is not able to adjust to shocks swiftly like the floating exchange rate. 1.5 Overview of exchange rate exposure At the micro-level, know how to in emerging markets, enterprise to exchange rate fluctuations interest are clearly their investors and managers. From a macroeconomic perspective, study the enterprise level exchange rate risk, help to determine channel exchange rate fluctuation effects of emerging economies. This is important because of preious study found that exchange rate devaluation impact on emerging markets and developed markets will be very different. For example, KaErWo and Reinhart (2000) found that devaluation in emerging markets tighten. An expansion of the literature, summarizes agenor, and MengTieEr (1999), provide theoretical interpretation, developing economies tighten devaluation. This and the effect of devaluation standard expansion comparative observation (see Gordon 2000) developed countries. Use of enterprise-level data to analyze macroeconomic problems, this is particularly useful, such as in the business cycle of frequency summary data is often in the quality a nd the limited number of developing countries. In addition, because responsibility, dollarization channel directly related to individual enterprises balance sheet, it is important to check with their performance depreciation of the influence. Bekaert and Harvey (2003), in the current literature on emerging market financing of comprehensive investigation, observation, used to parse the developed markets, the standard model often is not suitable for processing occurred in emerging markets, specific situation. This observation and there were to exchange rate risk research so. In developed markets researchers usually focused on measure marginal exchange rate risk, to a companys stock exchange rate of return of the depreciation of the influence, for national stock index irr control. The national into stock index is control macroeconomic impact, causing synchronous movement in local currency and a companys stock price impact factor. This measure is often used to estimate the company of some interesting courses of exchange rate risk (such as multinational company or exporters), relative to the national average. However, for the emerging market of the enterprise, is our ability to focus on how they are in absolute meaning of exchange rate fluctuations, while the effect of not important reasons. First of all, to assess the depreciation of the theories discussed above, we need to research the total, but not at the edge of the influence, to exchange rate fluctuations in emerging markets enterprise. Specifically, we are reviewing whether as a class of emerging market enterprise adverse effects, currency devaluation, not just how they perform, relative to their respective countries average interested. Second, Morck, Yang, the more (2000) document within the stock price of the domestic correlated considerably more than developed markets emerging higher level. This synchronization make stock price change is unlikely to emerging market enterprises are facing serious mar ginal exchange rate risk. Meanwhile, so strong national internal cooperation campaign suggests the possibility of specific countries is an important part of the exchange rate risk. By using the total exposure measures, we can assume for exchange rate risk decision factors for specific national influence; And the peripheral exposure of any nation only measures, concrete influence has been deducted, so it cant identify. In addition, in the more micro level, in emerging markets, investors should care about their investment return given devaluation general response and managers to oneself the value of the company always reaction given exchange rate fluctuation relevant, not just edge react than the national average. Thus, our challenge is to measure total exchange-rate exposure, but at the same time abstract from the confounding macroeconomic shocks. In other words, we need to distinguish between the direct effects of exchange-rate movements on firm value, and the effects of other ma croeconomic shocks that simultaneously affect both firm value and exchange rates. Chapter Two Literature review 2.1 Chapter overview For this chapter that is the literature review which propose the significant empirical and theoretical information to estimate the exposure of emerging-market companies to fluctuations in their domestic exchange rates and identifies the total exposure of a company to exchange-rate movements. 2.2 Empirical Literatures As Adler and DaZhongMa works (1980, 1984) began, Joe dumars (1978), and Howard (1982), there is a study in developed markets, probes into the companys exchange rate risk long list. The main focus of this document is estimated at industry or company level of risk and to investigate their decision factors. For example, Jorion (1990), he and NG (1998) found that foreign sales to the United States and Japan are a multinational company contact of important factor. Allayannis and Ihrig (2001) and beaus, and DaZhongMa Gardner, mascherano meal (2002) research market structure as to exchange rate risk decision of factors. Allayannis and Ihrig establishment and the exchange rate risk and marking the links, and estimate American manufacturing model. Bo Gardners, and DaZhongMa mascherano meal the scope is export enterprises exchange rate risk of one through the price of exchange rate fluctuations, and estimate the on Japanese exports industry pattern. Griffin and si tuor this (2001) and Willia mson (2001) study exchange rate fluctuation industry level the impact of competition. Griffin and si tuor this discovery, the influence is a in Canada, France, Germany, Japan, England, and industrial widely set small American Williamson thinks, the powerful influence for automotive industry, in Japan and the United States more wonderful, griffin and Williamson (2002) and Dominguez and tessa (2001) provide the more detailed this literature review In the method, many studies, including Allayannis and horizon (2001), bo Gardners and gentleman (1993), Jorion (1990, 1991), and Williamson (2001), exchange rate risk measures as a domestic market index works control variables. Bo Gardners and yellow (2000) provides take this practice motivation discuss carefully, and further suggests that the market of the construction of the control variables can have a symbol and exposure to estimate the size of the considerable influence. Some research sector does level in the enterprise or some indiv idual emerging market exchange rate risk. Kho and Sweeney tuor this (2000) study of the Asian financial crisis for five of east Asian countries other currency risk banking. They found that a currency risk only in Indonesia and the Philippines department of stocks earn negative influence. Dominguez and tessa (2001) review from eight countries, in which two (Chile andThailand) is emerging market enterprise marginal rate risk. These two countries, they found that both scale of enterprises or foreign sales is an important determinant of exposure, and the industry is a business affiliation relationship in Chile and Thailand two significantly. Parsley and popple (2002) to study how to exchange rate peg influence east Asia enterprises exchange rate risk, and found a one-to-one currency show outfights them from other currency exposure fixed exchange rate of countries. Chapter Three Methodology 3.1 DATA In this study, it used in the sample from multiple sources establishment. Emerging markets (EMNCs) multinationals and developed countries multinational companies in control group (DMNCs), this list compiled list of annual world investment report published MaoFa meeting of the top multinational companies. Since 1999, all the list published are used to compile EMNCs list. If a company on the list at least once, it was listed in the samples. In addition, transition countries 25 strong multinational companies, top 10 list of multinational companies list published by the eastern world investment reports for research. These sources of combination create 120 multinational companies as a sample of authentication. Once the company create, for the list of Datastream and analysis of data from Thomson research database. O the list of corporate database screening, found that some companies have no relevant data or database of consistent time series. This reduced the companys total sample 106. T he final list including from four world (Africa, Asia, Europe and America) area in 16 countries 106 company 3.2 Methodology The impact of company, industry, region, and country level variables on the exchange rate exposure elasticity was estimated by using pooled time series regression method. Where, is firm ià ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s exchange rate exposure elasticity coefficient. The independent Variables in the Cross sectional model are as follows: TS: Total Sales Lev: Leverage Int: Degree of Internationalization C: Country Risk ADR: Access to Intà ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢l Capital US: Upstream/ Downstream Dummy R: Region Dummy I: Industry Dummy Virtual variables include single industry, national and regional effect. As for someone says the earlier scale and lever may affect the companys foreign exchange exposure of elasticity, therefore, it is necessary to control these effects. Total assets and total sales increased enterprise scale and the assets and liabilities of the total ratio con trol to control leverage. The companys internationalization degree also affect exposure, therefore, foreign assets and total assets and proportion of total sales of foreign sales added to the model to control the effect. Chapter Four Data Analysis and Research Findings Foreign exchange market experienced with the actual rate often in the big change bilateral exchange rate fluctuations caused fluctuatio (figure 1 and 2) in recent weeks. These movements of some corresponding adjustment scheme of EO87 policy direction, but on condition that the nominal money valuation of the changes, are made by domestic absorption ability change, make the actual and effective exchange rate adjustment after lasting. In the circumstances, the dollar depreciation (4.2, since September 1 in nominal effective) is desirable support, because it helps to adjust to American production from internal to external balance, demand and ease in the U.S. disinflation risk. By reducing the need of domestic absorption in the dollar is also advantageous in U.S. financial reorganization. Similarly, modest revaluation has in Brazil and emerging market economies and India (in these two countries under the name of 1.1%, effective from September 1) happens should help them contain inflatio nary pressure, but might aggravate their current-account deficit, unless it is compensation fiscal restraint. Simulation operation and the oecd model suggests that the world new fluctuation of exchange rate is a long-term actual variable has a significant effect to maintain. For example, it needs to be in the two years before, the dollars external value change provides two, it to the current account complete effect of two-thirds. Table 1 Report and the median average rate risk of emerging markets and developed market multinationals coefficient. Webmasters coefficient in the name of market risk factor. Net enrollment coefficient is the nominal exchange rate risk factor. MaBi coefficient is true market risk factor. Net enrollment coefficient is the real exchange rate risk factor. The panel table 1, we report for all the exchange rate risk of a multinational company analysis results (including developed and emerging market) samples. Exposure of the elastic coefficient and the me dian average, when we use the proxy is the nominal exchange rate and exchange rate 0.00122 0.01645 respectively. Exposure elastic indication change when we use the real exchange rate. The mean and median exposure elasticize is real exchange rate 0.0146 and 0.0399. In group B and C we report the exchange rate and the developed countries EMNCs multinational company (DMNCs) exposure analysis results. And although the nominal exchange rate of Proxy EMNCs averages and median exposure flexibility is 0.112 and 0.126 respectively corresponding elastic for 0.1148 DMNCs and 0.143. When we use the real exchange rate, the average exposure elasticity reverse signs for both EMNCs and DMNCs Table2 ANOVA-Test of between subjects effects Based on the table 2, we report the variable test between the principal role of results. Type III squares which used in the test. The amended model is 1% significant level. Therefore, expose in emerging markets and developed market coefficient of national equality zero hypotheses was refused. In order to EMNC and quantitative between DMNC group, a simple comparison test is in exchange rate risk difference. In the above analysis, light, namely zero hypothesis EMNC and DMNC exposure elastic relationship is equal, is in 1% significant level refused. Therefore, we, according to the results of exchange rate risk in emerging markets of multinational companies elastic relationship is significantly lower than developed countries exchange rate risk relationship elastic larger market multinational company. We in this study the main premise is such statistical results confirmed the report. We further analysis, in order to obtain the exchange rate exposed to different enterprises, industry and national level of variables EMNCs elastic relationship model views. Table 3 contrast result of ANOVA Table 4 Cross tabs between foreign asset and magnitude of RER exposure Table 5 Cross tabs between foreign sales and magnitude of RER exposure T able 6 Cross tabs between FSTS ratio and magnitude of RER exposure Based on this analysis, 4, 5, 6 from the table, we examine the link between exposure to the size of the elastic EMNCs and absolute size (Table 4) foreign assets, Hollywoods overseas sales (Table 5) and foreign sales total sales Ratio (Table 4). Cross tabulation results clearly point out the positive and statistically significant link between the size of foreign participation and exposure of the agents coefficient. Clearly recognized the significance of these results to determine the degree of international participation, because the size of exposure. Table 7 Cross tabs between countries and magnitude of RER exposure Table 8 In table 7 into each area countries further find interesting model are as follows: to 1% level, all from Argentina, Singapore and south Korean companies have higher real exchange rate risk elastic coefficient. By contrast, the Philippines, all from Hungary, Poland, the Russian federati on, Taiwan EMNCs worked in Slovenia 1% level significantly lower risk factor. Results must be in each specimen with because enterprise the inequalities of the number of countries that carefully ealuated. In table 8 into each area further breakdown of all countries found below interesting mode: 1% level, from India, Malaysia, the Philippines, the Russian federation, Singapore, South Korea, Taiwan all enterprise DouZhengShi elastic coefficient exchange rate risk. By contrast, from Argentina EMNCs all once at 1% level significantly lower risk factor. Results must be in each specimen with because enterprise the inequalities of the number of countries that carefully ealuated. Table 9 Pooled Time Series Results According to the table 9 as robustness examination, we focus on multiple time series analysis. We think, the scale of the enterprise, financial lever degree, multinational company, enter the international capital degree, and as the real exchange rate flexibility theoretica lly reasonable risk factors upstream investment. Results reported the regional virtual variable abnormalities, and in all the variables in the statistical model putong 5% significant level significantly. The total sales variable is used as the agencys scale and our results suggest that this is an exchange rate risk of important decision factors. The size of the theoretical symbol may be because of the two factors offset ambiguous: on the one hand big companies are more likely to engage in foreign business, it may have a higher risk of currency. On the other hand, they are more likely to have enough resources to manage its exchange rate risk Chapter Five Conclusion The study reflects our attempts to understand as compared, in the DMNCs EMNCs exchange rate risk of nature. Presumably, this EMNCs exposure will in a DMNCs this larger. It appears three important discoveries, from our analysis. Below summarizes these results to First of all, our empirical results show that our sample 60 per cent of the multinational company has significant bear the risk of exchange rate fluctuations. Although common currency influence multinational company that value, empirically limited literature. Relative to in this field, including exposure company reports proportion generally less than 25%, in this study, the early work, we found that is rather high in proportion. Higher percentage in this study can partly in the calculation of the exchange rate risk, USES the method. The results can also be caused by sampling method, we used in this study. Although our sample is random, we think this is the reason for EMNCs representative discused. However, we cant rule ou t the possibility of a sampling bias. The second import our research findings were EMNCs substantially more vulnerable to exchange rate than developed countries peer rate factors. In some cases, this is due to emerging market inherent risks properties and/or system empty could limit in emerging markets, under the condition of the effective monetary risk management of universality. Finally, our third found in our study, EMNCs mainly there are real exchange rate risk, and DMNCs has a huge negative real exchange rate risk. The real exchange rate risk of positive can be attributed to import tendencies or big or foreign currency debt. Because in this example is used in EMNCs has significant foreign sales, import orientation argument itself insufficient to explain our findings. This causes inference EMNCs should have considerable balance sheet, this is consistent with the reality of foreign currency exchange rate risk liability. The positive relationship between leverage and magnitu de of exposure lend further support to this conclusion.

Stress and Its Management - 1857 Words

Stress Introduction Zajacova et al. (2005) state that stress refers to the non-specific response of the body, to anything that makes a person feels threatened or upset. Stress prepares the body to meet situations which are tough with focus, stamina and strength. It can be caused by positive or bad experiences. Stress is provoked by events called stressors. There are two kinds of stress. Negative stress (distress) and positive stress (eustress). Eustress affects our activities in a positive way (Striker et al., 1999). It is a short-term stress which increases the bodys strength immediately. Positive stress affects us during periods of physical activity, excitement or creativity. It motivates and inspires a person to finish a certain task and also helps one think critically towards an assignment (Spector, 2002). Negative stress is the most popular type of stress. It arises when the normal routine of the body is altered. It causes negative effects such as anxiety, depression, fatigue and unhappiness. When a person is distressed, the body becomes unable to return to a relaxed state even when the stressors are absent. Physical stress comes about when the body responds to physical stressors such as work, exercise, noise, or an illness (Ritchie and Brindley, 2007). Psychological stress refers to an emotional experience where the mind perceives the inability to cope with a problem. This kind of stress is due to marital issues, financial crisis, and death of a loved one orShow MoreRelatedStress and Stress Management7440 Words   |  30 Pagesï » ¿Stress and stress management. by Suzanne M. Crampton , John W. Hodge , Jitendra M. Mishra , Steve Price Stress is found in all aspects of life. Hans Selye, a pioneer in stress research, has defined stress as the nonspecific response of the body to any demands made upon it (Kreitner Kinicki, 1992, p. 597). 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