Voltaire s Candide The Most Controversial Works Of The...

Voltaire s Candide is one of the most controversial works of the 18th century, and until today is considered his masterpiece. Voltaire himself is among the disputed writers of his era, as he challenged many given beliefs. Voltaire was a contemporary of the optimism philosophy. At his time, it was widely believed that all is for the best and everything will fall into its perfect place eventually. Voltaire did not agree with this. He was very frank and straightforward, and was concerned with only the truths of this world. He went through many hardships in his life; he was imprisoned in the Bastille, exiled from his country and witnessed many European disasters, including the seven years war and the great Lisbon earthquake (Voltaire, 2013, p. vii-x). He was always concerned by the question is all really for the best, and if so, why are there so many tragedies in the world?. Thus, his works reflect exactly his deep confusion regarding the society s beliefs in his time (Mason, 1992). The re is no definite date as to when Candid was published, however, we do know it was first published as a translation from the German by Dr. Ralph. Immediately after its publication, it was banned in France and many other European countries, yet it continued to be a bestseller. There are many factors that made Voltaire so popular at the time, and remains a masterpiece to this day. The main reasons being that Voltaire frankly, without any hesitation shook the belief systems of his era to theShow MoreRelatedThe Age Of Enlightenment By Francois Marie Arouet1082 Words   |  5 Pagesthe 18th century. This era saw the rise of many writers and philosophers that are still recognized and praised today. Goals like tolerance, reason, progress, and the removal of the injustices of church and state were prominent in works by Enlightenment thinkers. Although they shared similar goals, methods to accomplish them were varied. Writers brought these new ideas to life and were key in the widespread ch anges in thinking we see occur during the Enlightenment. One of the arguably most controversial

Why Does Coffee Make You Poop

Your morning cup of coffee can jumpstart your day, but it may also send you on a beeline for the bathroom, both to pee and possibly to poop. Whether you experience the diuretic effect (you need to urinate) or colon-stimulating effect (you have a bowel movement) depends on your personal biochemistry and whether youre a regular coffee-drinker or not. Heres what scientists know. How Coffee Relates to Poop A study published in the gastroenterology journal Gut verified some people experience colon stimulation within minutes of consuming a cup of coffee. Not everyone reacts this way, so if you dont drink a cup of joe in the morning to get started in that manner, youre not alone. But for those of you for whom coffee does make you poop, how does it work? Scientists arent quite certain, but have ruled out some possibilities and identified other explanations. First, its probably not the stimulating effects of caffeine, since the laxative effect is seen with decaf as well as high-octane joe. Coffee promotes the release of the hormone gastrin, which stimulates the secretion of gastric juice and increases colonic motor activity. Activating the colon  may stimulate peristalsis, leading to the purgative effect. Is Coffee a Diuretic? The caffeine in coffee is a stimulant. Generally, stimulants increase urine production.  If coffee acts as a diuretic, drinking it will make you need to urinate more frequently, dehydrating you slightly. Dehydration can lead to constipation, which is the opposite of what some coffee drinkers experience. However, coffee isnt necessarily a diuretic! A 2003 study published in the  Journal of Human Nutrition and  Dietetics found that regular coffee drinkers develop a tolerance to the effect and dont excrete more urine, even if they drink 2-3 cups of coffee per day. So, if coffee doesnt act as a diuretic for you, you may be more susceptible to the laxative effect of the brew. Another factor could be psychological since bodily functions tend to adapt to a daily pattern. Thus, if you always start your day with a cup of coffee and a bathroom break, your physiology may become accustomed to the routine. However it works, scientists have verified coffees biochemical ability to send people to the toilet, just not necessarily  for the same reason as each other.

Comparing Islam and Christianity Essay - 735 Words

Comparing Islam and Christianity Although they share several basic theological ideas, Christianity and Islam differ on countless key characteristics. The most prominent differences include atonement, the identity of God, heaven, view of Jesus, and the perception of the Christian Bible. It is these not-so-subtle contrasts of thoughts that separate the two most prevalent religions in the world. One of the most important differences in Christianity and Islam is the concept of atonement. In Christianity, Jesus’ death on the cross allows Christians to repent from their sins and gain forgiveness from God. Conversely, in Islam there is no atonement from sins with Allah, though they still repent and confess their sins. While Christians†¦show more content†¦While they share the basic concept of heaven as a final resting place for those who have done their God’s will during their time on Earth, the descriptions of heaven vary significantly. Christians believe that heaven is the dwelling place of God, and fellowship with Him provides the unimaginable happiness associated with heaven. Muslims hold a more worldly belief of heaven; a state of perpetual bliss, rewarding Muslims who have lived righteous lives. This blissful heaven fulfils its occupants’ earthly desires, including rewards such as dozens of virgins awaiting martyrs of Islam. The key difference between these two views of heaven is the nature of their rewards; while Islam provides earthly gifts to deserving Muslims, the Christian heaven provides spiritual satisfaction to those Christians who have maintained the faith. Yet another very important difference between Christianity and Islam is their views of the Christian Bible. The Bible serves as the guide to Christianity, offering aid and advice for daily living as well as describing the acts and life of Jesus. Muslim views of the Bible offer a stark contrast to those of Christianity. The Muslims respect and follow the teachings of the prophets, but agree with the Bible only as far as itShow MoreRelatedComparing Islam And Christianity And Islam1731 Words   |  7 Pagesstill details that will be different due to preconceptions and fundamental beliefs. Comparing and contrasting Islam and Christianity, is a wonderful example of these differences based on fundamental beliefs. This concept is explored in the rest of this work through critically accessing Christian and Muslim views on the question of origin, identity, meaning and purpose, morality, and destiny. Islam and Christianity are in agreement that the origin of both living things and man were created by GodRead MoreComparing Christianity and Islam769 Words   |  3 Pagesindividual, God and their neighbours. Christianity and Islam are both religious traditions that have their sacred texts, the Bible and the Quran and Hadith respectively, as the foundation stones to guiding its adherents to a life of inner-peace. This is achieved through following the principal teachings and taking part in the significant practices whilst following a comprehensive ethical structure as stated in their sacred texts. Both Christianity and Islam strive to emphasise the achievement ofRead More Comparing Christianity and Islam Essay1573 Words   |  7 PagesComparing Christianity and Islam   Ã‚  Ã‚  Ã‚  Ã‚  Christianity and Islam are two of the fastest growing religions, and they both have a lot in common. In this essay I will explain their differences and similarities, their messages, how they treat their believers and other religions, their historical relationship, and other topics along these lines.   Ã‚  Ã‚  Ã‚  Ã‚  I will start this essay by explaining Christianity, and many things about it. The word â€Å"Christianity† itself, means â€Å"Believer in Christ.† If you areRead MoreComparing And Contrasting Christianity And Islam872 Words   |  4 PagesComparing and Contrasting Christianity and Islam Religion is a guide to live a life that offers a fixed set of morals, as well as something to hold onto in times of misfortune and remarkable miracles. It is something that one will always grasp for, obey, and learn from as they carry on with their everyday lives. Christianity, which stands as the most practiced religion in the world, and Islam, which stands second, both portray how something that starts off so small can grow to enormousRead MoreComparing Christianity, Judaism, and Islam Essay1364 Words   |  6 PagesComparing Christianity, Judaism, and Islam Christianity most widely distributed of the world religions, having substantial representation in all the populated continents of the globe. Its total membership may exceed 1.7 billion people. Islam, a major world religion, founded in Arabia and based on the teachings of Muhammad, who is called the Prophet. One who practices Islam is a Muslim. Muslims follow the Koran, the written revelation brought by Muhammad. The Muslim world population is estimatedRead MoreComparing Womens Roles in Christianity and Islam Essay1166 Words   |  5 PagesComparing Womens Roles in Christianity and Islam Christianity Concept of God: ChristiansRead MoreComparing and Contrasting the Views of Christianity, Islam, and Judaism 1178 Words   |  5 Pagescomes to theism and the wold iew, one of the main questions that is asked by all is, â€Å"if there is a God or a devine spirit and if so what he or she like?† Out of the three main religions of the world Christianity, Islam, and Judaism all have different views on who God really is or isnt. So when comparing each of the worlds three main religions, it is best to start with looking at how each of these religions are similar before we focus on how different that they are. What each of the 3 main religionsRead More Comparing Christianity, Judaism, and Islam Essay739 Words   |  3 PagesSimilarities and Differences between Christianity, Judaism and Islam There are many similarities and differences between Judaism, Christianity and Islam. There are also many differences that separate the three major religions of the world. This paper will delve into all three of them. The major similarities that all three religions share are that they are all monotheistic. This all means that they believe in one god and that he is the supreme ruler of all things. They also believe thatRead MoreComparing Christianity And Islam : Similarities And Differences2069 Words   |  9 PagesCompare and Contrast Christianity and Islam Nature of the Afterlife and Nature of the Divine Christianity and Islam: Similarities and Differences INTRODUCTION Islam and Christianity are the largest religion in the world and share many common beliefs. The two religions co-exist in many parts of the world. However, each religion has it is own territories where they are the dominant religion. The two religions share almost the same history of inception and concepts of faith. Despite, beingRead MoreThe Most Influential Religions Of The World Are Christianity And Islam953 Words   |  4 PagesThe most prominent religions in the world are Christianity and Islam. Christianity is based on the teachings, beliefs, and practices of Jesus, while Islam is based on what Prophet Muhammad founded and taught, which includes the principle of total submission to Allah. When comparing the two religions, it is made apparent that there are a lot of differences in topics such as worship, practices, salvation, Jesus’s role, and many other things, which show the strength and weaknesses in both religions

The Conflict Resolution The Workplace Rights Against...

Airbnb is committed to keep a positive work environment for all employees to make everyone work efficiently together. The conflict resolution procedure has been made, as a foundation to ensure that the work environment will stays positive which is under the workplace rights against conflict and harassment at workplace, in the workplace policy have to include informal and formal conflict resolution which to divide small issues at workplace which can be deal within a short time or small action and with the bigger issues at workplace that can be take to the legal team to solve the conflict that will meet both side satisfaction. https://www.qld.gov.au/law/your-rights/workplace-rights/harassment-and-bullying/ Informal conflict resolution process Employees who have experience a work related conflict should first try to discuss the problem with their supervisor or request a meeting with the Human Resources representative to discuss the issue. The supervisor or the Human Resources representative will analyze the characteristic of the conflict resolution request and they will arrange a meeting with the employees to inform the employee of the given plan of action. If the employee is not satisfied with the informal resolution of the problem, employee may proceed with the formal conflict resolution process. Formal conflict resolution process Employees who have get through the informal conflict resolution and wish to initiate the formal conflict resolution process must prepare writtenShow MoreRelatedWhat Is Telus Communication Company Ensure High Quality Service? Essay1322 Words   |  6 Pagesgoal is by providing an approach for conflict resolution. This also provides the workplace with a process for continual improvement to ensure high-quality service to customers. 2. PURPOSE Telus Communication Company ensure that all employees and volunteers are provided with a high-level of justness and fairness in relation to conflict management. Telus Communication Company is devoted to the maintenance of an organizational environment that is free from harassment and discrimination and supports employees’Read MoreConflicts And Conflict Resolution Process1671 Words   |  7 PagesConflicts are inevitable in any human s’ interaction which makes their occurrence normal in the workplace. Conflict can be caused by imbalance of power and communication barriers that arise from the social structure or individual interpersonal’ perceptions, assumptions and expectations. The interpersonal conflict has a huge impact on the individual himself and extends to the workplace. The Human Resources (HR) role comes in light to attempt to help in the conflict resolution process. Human resourcesRead MoreWhat Elements Of Law Are Important For Other Workers At Treton R epresent Discrimination And Harassment? Essay1394 Words   |  6 PagesIdentify and describe the specific issues Maalick encountered in the workplace. Do the actions of other workers at Treton represent discrimination and harassment? What elements of law are important for Treton to consider? In this particular case, Mr. Maalick received very clear and convincing racial and religious discrimination from both his supervisor and from his co-workers. The employees of Treton blatantly violated the Civil Rights Act and the Equal. Employment. Opportunity Commission. These actsRead MoreNotes On Conflict Management Report2431 Words   |  10 PagesLASA 2—Conflict Management Report â€Å"Kate has been employed by a well-known manufacturing company for 12 years. She is the only female on her line and the fastest worker. She has been promoted several times through mergers and acquisitions, but has always been looked over for a senior management position. Kate believes she is qualified for advancement but thinks her manager has a problem with her personally. To top it off, Kate did not receive a semiannual or annual review, which would have resultedRead MoreEthical Issues Of The Business Industry Essay1559 Words   |  7 Pagesindustry and how might these be addressed and overcome in the world of business? We may never know because Ethics questions morality, whether something is ethical or unethical, right or wrong, good or evil, aim for justice, etc. Each person may have their own different opinion, causing ethics to be a moral value to what feels right. It seems that every day in the news we are hearing of new company that has acted at least unethically and po ssibly illegally in the operation and financial reporting of theirRead MoreChili Case Group Analysis Essay5365 Words   |  22 Pagesï » ¿ Chili Sauce Case Group Analysis Course: MHR405 Instructor: Kemi Salawu Due Date: Friday November 21, 2014 1. Identify the counterproductive employee behaviours apparent in the workplace. Explain why employees engaged in these behaviours (i.e. what may have influenced them to behave this way?) (20 marks)   Ã‚  Ã‚  Ã‚  Ã‚  The situation described by â€Å"The Chili Sauce Case† is a classic example of a counter productive work environment. Many factors contributed to the lack of effort shown by the employeesRead MoreThe Matter Of Law That Ellison s Reaction Essay1701 Words   |  7 Pagesbeen in favor for Ellison. She had evidence of him sending her disturbing letters and also reported his stalker like behavior to her supervisor. Employers who fail to fully investigate sexual harassment complaints in the workplace could face detrimental consequences. All employers should have sexual harassment policies in place; however having a policy is not enough. Policies must be reasonably and properly enforced and there also must be effective internal procedures that will allow employees to bypassRead MoreHarassment At Fox Valley Tech2547 Words   |  11 PagesHARASSMENT IN THE WORKPLACE PREPARED FOR: MR.RICH KESTER INSTRUCTOR AT FOX VALLEY TECH PREPARED BY: ELIZABETH LUEBKE STUDENT AT FOX VALLEY TECH APRIL7, 2015 WRITTEN COMMUNICATION CLASS April 3,2015 Elizabeth S Luebke 519 Washington Ave Neenah, WI 54956 Dear Mr. Rich Kester: This letter sheds light on one of the biggest problems people face in the workplace today. I believe you will find based on my research, that there is a need for awareness of this problem and we need to showRead MorePresentation And Case Study Analysis1853 Words   |  8 Pagesinformed me on information regarding Labour Relations and incidents involving employees and the CCMA. He also offered insight into organisational structures and methods they use to problem solve employee grievances. With regards to problems in the workplace the managers identify the problems that employees are encountering and attempt to solve them in a fair manner for both parties. If problems are not solved internally then 3rd party mediation is needed. An incident occurred with an employee that receivedRead MoreCase Study 11513 Words   |  7 Pagesï » ¿Case Study 1 Amar Vora Liberty University Case Study 1 1. Identify and describe the specific issues DeMur encountered in the workplace. Do the actions of other workers at Treton represent discrimination and harassment? What elements of law are important for Treton to consider? DeMur found very clear issues that can relate to Harassment and Equal Employment Opportunity discrimination within his work place. It started when his supervisor was hesitant to grant him days off for a religious event

What Is Wrong With Slavery, R. M. Hare - 913 Words

In What is Wrong with Slavery, R. M. Hare argues for why freedom should be a human right. There are psychological and behavioral aspect in regards to Hare s argument to where utility is the main contributing factor. Hare goes into saying that utility helps to distinguish the reason why Utilitarian s would accept this virtue in slavery because of the benefits that would come from having slaves. Utilitarian s can argue over slavery being wrong because of the loss of utility outweighing the supposed happiness that would be a possible gain from having slave-owners and slaves. Add more... Utilitarianism is one of the moral theories that literally only acts on gaining or developing the use for having utility, or what is also known as happiness. Pleasure is a helpful key word to define utility because it is the opposite of feeling pain. As long as there stands a high level of utility, there will be actions to obtain it and no matter how much morality is provided or taken away. Such pleasure can be from the act of the utilitarian in which... Add more examples to this paragraph. The argument is that enslaving people maximizes utility. Hare believes in this argument, but takes this argument a little bit further by developing his own hypothetical example to where enslaving would maximize utility in an aggregate formation. The example consists of the island of Juba and how its colonization of slaves had a leader who took control over the island. There are problems to be fixed asShow MoreRelatedNotes18856 Words   |  76 PagesChapter 4 Colonialism and the African Experience Virtually everything that has gone wrong in Africa since the advent of independence has been blamed on the legacies of colonialism. Is that fair? Virtually all colonial powers had â€Å"colonial missions.† What were these missions and why were they apparently such a disaster? Did any good come out of the African â€Å"colonial experience†? Introduction Colonization of Africa by European countries was a monumental milestone in  ­ the development

Newly Joined Health Care Workers to Promote Awareness

Question: Discuss about the Newly Joined Health Care Workers to Promote Awareness of Good Hand Hygiene Practices. Answer: Introduction Health care-associated infection (HCAI) has been persisting as a major issue in the last few years as almost every healthcare setting is facing negative health outcomes like mortality, morbidity and increased cost of healthcare. Handwashing has been indicated as the most effective way to prevent the rising incidences of health care- associated infections. However, research has indicated that healthcare workers are not adhering to the hand washing techniques to the extent desired (Zingg et al., 2015). The present writing focuses on the reasons why there is a lesser emphasis on hand hygiene in the healthcare setting, therefore leading to unsafe practice. The next section of the paper would outline the ways in which a new employee can help in the reduction of the undesirable outcomes. The focus of the paper would be on National Safety and Quality Health Service Standards (NSHQS) 3.1. Why there is lesser emphasis on hand hygiene in the healthcare setting, therefore leading to unsafe practice Healthcare worker compliance with hand washing guidelines has been known to be a cornerstone of ideal infection control practices. However, a rich pool of literature has indicated that healthcare workers, especially those who have recently joined any health care setting, do not strictly follow the hand hygiene protocols (Dai et al., 2015). The reason for healthcare workers to have this negative approach towards hand washing is multi-faceted. Firstly, a worker going for a hand wash might not be getting a sanitizer os soap at their disposal. Some workers have an attitude that washing hands often would lead to drying out of their skin. For others, they might need more convincing that had washing is essential. Lastly, hand hygiene might be at times overlooked due to the fact that the other responsibilities and duties the workers have demanded more attention in a healthcare setting that is often chaotic. A number of challenging aspects of the regular duties of a healthcare worker compel t hem to neglect hand washing procedure at a regular interval. Many healthcare settings lack leadership, and such poor leadership leads to a poor overseeing of proper adherence to set guidelines for the workers. The intension of improving knowledge and compliance to hand washing have been incorporated in many settings against this background (Pan et al., 2013). How new employee can help in reducing the outcome The National Safety and Quality Health Service Standards (NSHQS) are the set of guidelines for achieving better healthcare results. NHSQ Standard 3 outlines the guidelines for prevention and control of HCAI. As per this standard clinical leaders in collaboration with senior managers of a healthcare organisation need to implement systems for the prevention and management of healthcare associated infections. It is their responsibility to communicate the management practices to the entire healthcare workforce for achieving appropriate outcomes. As per the NHSQ Standard 3.1 better outcomes can be achieved by development and implementation of governance systems for effective infection control in order to reduce the risks of infections. Risk management approach pertaining to infection control could be taken while implementing the policies and protocols of hand washing. Such protocols would need to focus on standard infection control measures and aseptic technique. There is a need for regul ar monitoring of the implemented policies. The monitoring is to be done based upon effective monitoring tools. The effectiveness of the hand washing procedures has to be reviewed at the highest level of governance in the setting. Advanced actions are to be taken for improving the effectiveness of the implemented policies and procedures (safetyandquality.gov.au, 2012). Research has suggested that behavioural theory framework can be utilised adequately for bringing positive changes in behaviours of individuals. This can be applied to the healthcare settings for bringing changes in the desired behaviours of the healthcare workers. With regards to the behaviour of hand washing, this theory can be applied. This approach would help to develop the knowledge translation interventions known to be more successful in bringing improvement in hand hygiene practice (Reyes Fernndez etla., 2016). As stated by Al-Tawfiq and Pittet (2013) compliance rate to hand washing techniques has a major link with the system design and easy access to hand hygiene products. Healthcare worker initiative, complex behavioural considerations and system change seem to take the forefront. John Keller's (ARCS) Model of Motivational Design, Transtheoretical Model (TTM) of health behaviour change, and the theory of planned behaviour (TPB) can be applied for the promotion of hand hygiene . The TTM of health behaviour would help to tailor interventions for prediction and motivation of individual movements. A program can be constructed on the basis of the theory with intercalations with TPB and ARCS. This would strengthen the promotion of hand hygiene. An organisational cultural change would aid in this process. TPB can be modelled with the creation of peer pressure, mentoring for increased ability to overcome challenges and impartment of education that can lead to the fulfilment of the objective. As stated by Srigley et al., (2015) with the progress of the science of hand washing procedures, better and novice ways are being implemented for avoiding the cross-transmission of pathogens that lead to nosocomial infections. Participants of healthcare settings, mainly the healthcare workers need to evaluate their performances on a regular basis in this regard. The duty of the supervisors is to monitor the changes in hand hygiene behaviours. They also have the duty to act as the role model. Maintenence of these changed behaviour is crucial on the long run, and this is a fundamental characteristic in the majority of the care settings involving the health care workers. Nurses with proper clinical reasoning skills have the capability to have a positive impact on patient outcomes. This is important when viewed against the backdrop of increasing number of poor patient outcomes. The clinical reasoning cycle by T. Levett-Jones is a model that enables nurses to understand the patient problem and deliver the best care services. The different steps of the clinical reasoning theory are considering the patient situation, collection of cues, processing of information, identification of issues, the establishment of goals, taking actions, evaluation of outcomes, and lastly reflection on the overall process and new learning. Following this cycle, a nurse can achieve effective hand washing procedure that can result in a better patient outcome. The patients condition is to be considered. The information of the patient pertaining to risks of infection is to be collected. The information is to be processed, and the potential problems are to be identified. Establishi ng goals would be the next step that would make the nurse adhere to adequate hand washing procedure. The nurse would then use the suitable hand washing material and continue doing so at the required interval of time. The evaluation of the outcome would be done through assessment of the effectiveness of hand washing as indicated by the reduction of infection of the patient. Lastly, it is necessary that the nurse reflects on the whole procedure and applies the learning to future practices (Burbach et a., 2015). Conclusion In conclusion, hand hygiene is a significant indicator of quality and safety of care delivered to patients in health care settings. Substantial evidence points out the correlation between the low rate of HCAI and good hand hygiene practices. Health care workers must address the issue and adhere to the set guidelines for achieving the set targets of better patient outcomes. Increased knowledge, enhanced awareness and a strong belief that the desired behaviours can be performed have the potential to bring actual changes in the present scenario. References Al-Tawfiq, J. A., Pittet, D. (2013). Improving hand hygiene compliance in healthcare settings using behavior change theories: reflections.Teaching and learning in medicine,25(4), 374-382. Burbach, B. E., Barnason, S., Hertzog, M. (2015). Preferred thinking style, symptom recognition, and response by nursing students during simulation.Western journal of nursing research,37(12), 1563-1580. Dai, H., Milkman, K. L., Hofmann, D. A., Staats, B. R. (2015). The impact of time at work and time off from work on rule compliance: The case of hand hygiene in health care.Journal of Applied Psychology,100(3), 846. National Safety and Quality Health Service Standards. (2012).safetyandquality.gov.au. Retrieved 3 April 2017, from https://www.safetyandquality.gov.au/wp-content/uploads/2011/09/NSQHS-Standards-Sept-2012.pdf Pan, S. C., Tien, K. L., Hung, I. C., Lin, Y. J., Sheng, W. H., Wang, M. J., ... Chen, Y. C. (2013). Compliance of health care workers with hand hygiene practices: independent advantages of overt and covert observers.PLoS One,8(1), e53746. Reyes Fernndez, B., Knoll, N., Hamilton, K., Schwarzer, R. (2016). Social-cognitive antecedents of hand washing: Action control bridges the planningbehaviour gap.Psychology health,31(8), 993-1004. Srigley, J. A., Corace, K., Hargadon, D. P., Yu, D., MacDonald, T., Fabrigar, L., Garber, G. (2015). Applying psychological frameworks of behaviour change to improve healthcare worker hand hygiene: a systematic review.Journal of Hospital Infection,91(3), 202-210. Zingg, W., Holmes, A., Dettenkofer, M., Goetting, T., Secci, F., Clack, L., ... Pittet, D. (2015). Hospital organisation, management, and structure for prevention of health-care-associated infection: a systematic review and expert consensus.The Lancet Infectious Diseases,15(2), 212-224.

Investment & Portfolio Management-Free-Samples-Myassignmenthelp

Questions: 1.Identify the major asset classes that are likely to feature in each of the types of managed funds listed below. In addition, propose and briefly justify a typical asset allocation for each type of fund. 2.Identify the major asset classes that are likely to feature in each of the types of managed funds listed below. In addition, propose and briefly justify a typical asset allocation for each type of fund. 3.What is the duration, modified duration and dollar duration of this bond?What will be the estimated price change on the bond if interest rates increase by 0.10 per cent (10 basis points)? 4.Assume that the dividend is expected to grow at 20 per cent for the next 3 years and then settle down to 8 per cent per year. What price would the share sell for today? Answers: 1.Benchmark index for tracking the performance of securities/stock exchange Australia SP/ASX 50 USA NYSA Arca Major market Index Hong Kong Hang Seng Index Japan Nikkei 225 England FTSE 100 China SSE Composite Index Major asset classes and asset allocation Stable fund the stable fund is more conservative investment which is aimed at outperformance of cash and boosting the returns through blending the cash with specific shares. Main goal of various investors are to increase the cash without increasing the considerable risk (Huang, Li Shi, 2016). The major asset class under stable fund is cash that includes term deposits, bank deposits, cash management trusts and cheque and savings accounts. This is suitable for the investors those have the short-term preference and lower risk tolerance level. It offers low and stable risk income, generally in form of the regular payments of interest equally. Under stable fund the potential return as well as the risks both is low. No minimum timeframe is recommended for this fund. Balanced fund the balanced fund invests in the combination of specific selected fixed incomes, shares and the commodity investments in Australia and international market for providing long-term growth without much downs and ups. The major asset class under balanced fund is fixed interest that includes corporate bonds, government bonds, hybrid securities and mortgage securities (Samudhram, Siew, Sinnakkannu Yeow, 2016). It is more volatile as compared to the cash, still it can be considered as relatively stable. It operates generally in the same way of loan. Return on income is normally in form of regular payment of interest for the agreed time period. Recommended time frame for this asset is minimum 1 to 3 years. Under stable fund the potential return as well as the risks both is moderate. Growth fund the growth funds main objective is to offer long term growth of capital through investing in the high quality and large Australian organizations. It offers well-diversified investing portfolio in wide range of the industry sectors. The major asset class under growth fund is property that includes direct investment in commercial, residential and industrial property and the indirect investment like vehicles. It may also include equities that include international equities and Australian equities. Growth funds generally has the high return as well as the risk involved is high (Bateman et al., 2014) The property is of long term nature, generally 7 years or more and the exit and entry cost involved with this is considerably high. The returns under equity fund include the capital loss or growth and the income through the dividends. Further, the equities are considered to be most volatile class of asset over the long term time frame. However, it involves the part ownership for any company that enables the investor to share profits and the future growth. Typical asset allocation Asset class High growth Growth Diversified Socially responsible Balanced fund Stable fund Australian equities 30% 22% 26% 16% 6% International equities 37% 29% 24% 21% 7% Alternatives 28% 28% 26% 28% 29% Fixed income 0% 10% 18% 20% 20% Cash 5% 10% 6% 15% 38% Total 100% 100% 100% 100% 100% Justification for asset allocation For allocating the assets, an active strategy is adopted to avail the advantages from the market conditions through temporary decreasing or increasing the exposures to the particular class of asset. This will help in protecting the investors from the risks of overexposures to the expensive market and get the additional return through increasing the exposures to class of assets while they will be attractive. 2.Taking into consideration the 1st derivative of the bond or any security that offers fixed income, the price (P) with regard to the yield to maturity (R) delivers the following (dP/P) / [dR/(1+R)] = - D Economic interpretation of the above equation is D is the measure of percentage change in price of the bond for the given change in percentage with respect to yield to maturity that is the interest elasticity (Khalil et al., 2014). Further, the above equation can be written as follows for providing the practical application dP = -D[dR/(1+R)] P To be stated in other ways, if the duration factor is known, the change in the bond price owing to the small changes in the rate of interest, R, may be forecasted through the above formula. 3.Duration, modified duration and the dollar duration Duration Duration of the treasury bond of $ 1,000 that is paying the semi-annual coupon rate of 10% per annum and selling at par at present with 11 years of maturity will be as follows Period Cash flow Period*cash flow PV of $1 @ 5% PV of cash flow 1 $ 50.00 $ 50.00 0.95238 $ 47.62 2 $ 50.00 $ 100.00 0.90703 $ 90.70 3 $ 50.00 $ 150.00 0.86384 $ 129.58 4 $ 50.00 $ 200.00 0.82270 $ 164.54 5 $ 50.00 $ 250.00 0.78353 $ 195.88 6 $ 50.00 $ 300.00 0.74622 $ 223.87 7 $ 50.00 $ 350.00 0.71068 $ 248.74 8 $ 50.00 $ 400.00 0.67684 $ 270.74 9 $ 50.00 $ 450.00 0.64461 $ 290.07 10 $ 50.00 $ 500.00 0.61391 $ 306.96 11 $ 50.00 $ 550.00 0.58468 $ 321.57 12 $ 50.00 $ 600.00 0.55683 $ 334.10 13 $ 50.00 $ 650.00 0.53032 $ 344.71 14 $ 50.00 $ 700.00 0.50507 $ 353.55 15 $ 50.00 $ 750.00 0.48102 $ 360.77 16 $ 50.00 $ 800.00 0.45811 $ 366.49 17 $ 50.00 $ 850.00 0.43630 $ 370.86 18 $ 50.00 $ 900.00 0.41552 $ 373.97 19 $ 50.00 $ 950.00 0.39573 $ 375.94 20 $ 50.00 $ 1,000.00 0.37689 $ 376.89 21 $ 50.00 $ 1,050.00 0.35894 $ 376.89 22 $ 1,050.00 $ 23,100.00 0.34185 $ 7,896.74 Total $ 13,821.15 Therefore, the duration will be ($ 13,821.15/$ 1,000) / 2 = 6.91 Modified duration Modified duration = D / (1 + R/2) = 6.91 / (1+ 0.10/2) = 6.581 Dollar duration Dollar duration = MD * P = 6.581 * $1,000 = $ 6,581 Estimated price change if Interest rate increases by 10 basis point that is, 0.10% Estimated price change = - dollar duration * change in rate = - 6,581 * 0.001 = - $ 6.581 Therefore, the new prices will be $ 1,000 - $ 6.581 = $ 993. 419 Interest rate decreases by 20 basis point that is, 0.20% Estimated price change = - 6,581 * - 0.002 = $ 13.162 Therefore, the new price will be $ 1,000 + $ 13.162 = $ 1,013.162 Rate change Estimated price Actual price Error +0.001 $993.419 $993.369 0.099 -0.002 $1,013.162 $1,013.364 -0.203 4.Under constant growth Current price of the share P0 = ?, D = 0.20, g = 0.08, R = 0.16 P0 = D1 / (R g) = $0.20 (1.08)1 / (0.16 - 0.08) = $0.216 / 0.08 = $ 2.7 Share price in 5 years P5 = D6 / (R g) = $0.20 (1.08)6 / (.16 - .08) = $0.20 * 1.587 / 0.08 = $3.9675 Under non-constant growth - The dividend is expected to grow at the rate of 205 for next three years and thereafter it will settle down at 8% per year. Price of the stock at year 3 will be P3 = D3 (1 + g) / (R g) = D0 (1 + g1)3 (1 + g2) / (R g) = $0.20(1.20)3(1.08) / (.16 .08) = 0.373 0.08 P3 = $ 4.666 The stocks price today will be the PV of 1st three dividends plus PV of the year three stock price. Therefore, the stock price today will be P0 = $0.20(1.20) / 1.16 + $0.20 (1.20)2 / (1.16)2 + $0.20 (1.20)3 / (1.16)3 + $4.666 / (1.16)3 = 0.207 + 0.214 + 0.221 + 2.989 = $ 3.631 References Bateman, H., Deetlefs, J., Dobrescu, L. I., Newell, B. R., Ortmann, A., Thorp, S. (2014). Just interested or getting involved? An analysis of superannuation attitudes and actions.Economic Record,90(289), 160-178. Bodie, Z. (2013).Investments. McGraw-Hill. Huang, H., Li, M., Shi, J. (2016). Which matters:Paying to play or stable business relationship? Evidence on analyst recommendation and mutual fund commission fee payment.Pacific-Basin Finance Journal,40, 403-423. Hyman, J., Dor, A. B., Dynkin, L., Horowitz, D., Xu, Z. (2014). Coupon Effects on Corporate Bonds: Pricing, Empirical Duration, and Spread Convexity.The Journal of Fixed Income,24(3), 52-63. Jordan, B. (2014).Fundamentals of investments. McGraw-Hill Higher Education. Khalil, R., Al Horani, M., Yousef, A., Sababheh, M. (2014). A new definition of fractional derivative.Journal of Computational and Applied Mathematics,264, 65-70. Samudhram, A., Siew, E. G., Sinnakkannu, J., Yeow, P. H. (2016). Towards a new paradigm: Activity level balanced sustainability reporting.Applied ergonomics,57, 94-104.