ShantanuT01/DACTYL-Pretraining huggingface dataset:
Introduction It is without doubt that the global financial crisis rattled the financial positions of most firms all over the world. This report studies the effects of the global financial crisis on Westfarmers Ltd, a listed Australian company. Using a pre and post GFC approach, a critical analysis of the company’s financial ratios between the years 2007 to 2010 sheds more light on the effect the GFC had on this particular firm (Maslow, 2000). The company’s financial statements over the years also provide more insight of the financial health of the firm. The global financial crisis hit the world in 2008 and consequently posed many questions over the viability of corporations across the world. A lot of strategizing and realignments have taken place after the crisis and Westfarmers is not an exception. A trend analysis shall provide us with information over whether Westfarmers is on its road to recovery or not. The directors’ salaries are also scrutinized to determine whether they need to be reviewed as part of the recovery program. Trend Analysis In order to put into perspective the effect of the GFC, we shall study the profitability of the firm from 2007 to 2010. Ratios computed from the firm’s financial statement shall provide us with an overall direction (Helfert, 2007). As is the case for many firms, the net profit margin of Westfarmers decreased from 0.114 in 2007 to 0.039 in 2009. This may be attributed to the fact that the level of disposable income of consumers during the GFC decreased tremendously. However, a slight increase to 0.043 in 2009 may be an indicator that business has started to look up for Westfarmers. Decrease in disposable income is an external factor that Westfarmers has very little control on whatsoever. Dwindling sales is therefore not of Westfarmers making. A decrease in the asset turnover in 2008 is also proof that business was low for the firm. We however notice a gradual rise from 2009 onwards, which may be an indicator that this company is on the path to recovery. The increase in the weighted average ordinary shares can explain the gradual drops in the debt to equity ratio and the leverage ratio. The company is using more equity than debt to finance its operations. This move should be highly lauded, as it would be catastrophic for the firm to continue accumulating debt. Increase in equity finance as opposed to debt finance also boosts investor confidence and speaks volumes of the company’s credit ratings. Despite the persistent drop in EPS from 1.9 in 2007 to 1.3 in 2010, it would be wrong to conclude that the firm has been posting poor results. Increase in the weighted average ordinary shares is the main reason why shareholders earnings have been on the decline and not profitability. Due to this, the debt to assets ratio has decreased tremendously from 0.7 in 2008 to 0.3 in 2010 (Friedlob, 2010). The steady rise in the current ratio from 0.5 in 2007 to 1.3 in 2009 allays any fears of incapability to meet mat
Elizabeth Catlett Mora was born in Washington, D.C. USA in 1919 (Arkansas Arts centre 2000). She was born as the youngest daughter in a middle class family of three children to parents who were both teachers. For her elementary education she attended the Lucretia Mott School, and later joined the Dunbar high school. For her higher education she was privileged to study at Howard University where she studied a degree in Design, print making and drawing. Although she went to the university to study printing she has stated in her earlier interviews that she changed to painting because of the influence of James A Porter. After graduating from Howard in 1935 she worked as a high school teacher for a short period of time in North Carolina. She was discouraged and therefore left the teaching profession because of the meager salaries that were being paid to the black teachers. She was first married to Charles White where she got her name Elizabeth Catlett White. She was married to White immediately after moving from Carolina to Harlem New York where she was now working. She was soon divorced and later married Francisco Mora a man of Mexican origin. Her marital status led her to move and live in Mexico which is her permanent home. She has been blessed to have three children some of whom are pretty famous. For instance, her son Juan Mora is a renowned movie director. After completing her basic education she began her education at the University of Howard where she successfully achieved a B. S. She joined the teaching profession for a brief period and after three years she went back to study this time at the University of Iowa where she was accredited as being the first student to receive a Masters in sculpture. She was given the privilege of studying with Grant Wood a famed regionalist painter who influenced Elizabeth. Elizabeth Catl
Introduction The effective (or adequate) sample size has the same level of precision as a simple random sample, and its calculation helps ensure that research has sufficient power to reject the null hypothesis. In other words, the adequate sample size is the one that is required for an analysis to be valid. To calculate the effective size of a sample, one needs to conduct a statistical procedure that is called power analysis. It is commonly used to determine the appropriate sample size that is necessary to detect the effect of given research at the desired level of significance. Identification of the effective size of a sample will help the researcher avoid the error of the second kind and make a reasonable conclusion. Main text Power analysis can be performed using statistical software, such as ANOVA. To determine if the sample size was adequately calculated, one needs to analyze the feasibility of the confidence level, standard deviation, and the width of the confidence interval chosen by the researcher. These factors are crucial as they have a direct impact on the identification of the effect of an intervention (Ali & Bhaskar, 2016). Then, based on the characteristics of the variable (dichotomous or mean), one needs to recalculate the sample size and compare it with the one estimated by the researcher. However, the non-normal distribution of the sample may be a subject of concern as it restricts further manipulations with the sample. Bearing that in mind, one could consider conducting the transformation of data to obtain a normal distribution and enable the use of a two-sample t-test or a z-test. If the appropriate approximation cannot be achieved, one needs to use non-parametric tests, such as a Mann-Whitney U test. A chi-square test is a commonly used type of analysis for testing relationships between categorical variables. In such a case, the calculated chi-square coefficient and the critical value coefficient are compared. To analyze the research data using this method, two criteria should be met. The first one assumes that variables should be measured at the nominal level only. The second one requires that each variable should have two or more independent groups. It is possible to say that the scenario provided does not meet the first criteria as the researcher analyzed not only nominal but also ordinal data. The compliance with the second criteria cannot be discussed as no information is given about the number of independent groups of which each variable consists. It is worth mentioning that there are several limitations associated with this statistical method. In particular, there is a possibility of overestimating the importance of a finding, which is especially the case for large samples. Since chi-square analys
Introduction The Monkey is one of the masterpieces of literature that contains the ethics, morality, religion, and culture of the Eastern world. In the tales about Monkey and his companions, the reader can notice the features of such religions as Buddhism, Confucianism, and Taoism, on which all the stories are built. However, the principles of Buddhism are more often and more prominently displayed in the main characters of the story. Each of them represents the shortcomings that Buddhism considers as obstacles to enlightenment and the virtues that are necessary to achieve Nirvana. This combination of vices that Tripitaka, Monkey, Pigsy, and Sandy need to overcome on the path of enlightenment and their merits that coincide with Buddhist ideals proves that the Monkey is an allegory of Buddhism. Monkey The monkey appears in the story in the first chapter and is one of the central characters in fairy tales. In the beginning, the reader sees Monkey as a self-confident, strong leader who rules the flock and wants to self-develop. However, he is led by selfish desires to become immortal, to learn magic, and to be better than others, which demonstrates his inconstancy and fussiness (Wu, 1942/2015). The monkey represents the mental side of Buddhism with these traits since according to Buddhism, a person must master and direct his or her mind towards harmony to achieve enlightenment (Keown, 2017). Besides, according to Buddhist teachings, a person must renounce everything cruel, and find peace in his or her soul (Keown, 2017). However, at the beginning of the story, the reader discovers that Monkey kills the Six Robbers. Later he sees and wants to join the fight with words: “I am going off to have a bit fun with the creature” (Wu, 1942/2015, 38). Thus, Monkey is an allegory of the mental state of a person in Buddhism and one of the vices that he or she must overcome to comprehend Nirvana. At the same time, Monkey also symbolizes the concept of vacuum, which underlies Buddhist teachings. One of the names of Monkey is “Aware-of-Vacuity”, that is, a person who knows absolute harmony, renunciation of desires, and identity (Wu, 1942/2015). In Buddhism, this concept is also reflected in the idea of “no-self,” which means the emptiness and absence of “myself,” since it interferes with the merging with Nirvana (Keown, 2017). Therefore, the name of Monkey and its journey is an allegory of this concept. Besides, at the end of the story, the reader sees that Monkey managed to settle his mind, overcome vices, and achieve enlightenment (Wu, 1942/2015). Thus, this character contains an allegory to one of the spiritual principles of people in Buddhism, the development of which leads to the achievement of Nirvana. Tripitaka Tripitaka is a monk who, in the past, was a disciple of the Buddha and was punished because of his disobedience. He is a pilgrim who goes his way in search of redemption and enlightenment, and he takes Monkey, Pigsy, and Sandy as
Number of participants firms In a pure competitive market structure, the buyer does not have any effect on the price level of goods in the market. This is contributed by the fact that number of buyers and sellers in the market place is large enough and acting on an independent scale (Pindyck, 2001). If this characteristic is compared with monopolistic competition, it is noticeable that there exist many firms selling the same product in the market. Furthermore, some firms are ready to enter the market in order to participate in selling the same products. In consideration of the fact that there are many firms in the market, it is possible to set individual price levels. One of determining factor to the number of firms in a monopolistic completion is the extent to which product has been differentiated and also the amount of fixed cost associated with running the industry (Gans, 2003). Types of products Products in a purely competitive firm assume a standard nature (Gans, 2003). These products are fundamentally identical in nature. An example is a combination of potatoes and wheat in agricultural sector. On the other hand, products in a monopolistic firm are highly differentiated. This means that the firms sell products that have less difference in their characteristics. This statement does not denote that the goods can act as substitutes but it brings to surface the fact that their cross price elasticity is positive when it is calculated. Consequently, the change in price of one good have a subsequent effect on the quantity demanded of another good. To further describe the nature of monopolistic goods, it can be highlighted that such goods executes the same roles but the difference is in the specifics of the products such as quality and location. Control over prices The price levels in a purely competitive industry are determined by the point of intersection between the supply and demand curves. Individual firms are under obligation to sell their products as determined by the industry. If a firm sells its products above the price in the market, then no one will buy from the firm in consideration of the fact that there exist cheap and similar products in the industry. Conclusion can therefore be made that prices are determined by the industry. In a monopolistic competition, firm determines its own price level in a market segment. This factor is supported by the fact that products are highly differentiated thus the buyer cannot draw much difference between products. A decision made by one firm cannot have much effect on other companies in the same segment. To sum up the price statement in a monopolistic competition, each firm is at liberty to choose o
In his article, ‘Ethics in the age of digital photography,’ Long (1999) expresses his concern over the problem of “the public…losing faith” in photojournalists. He states that most of the readers and viewers do not trust what they see as they know that images can now be “created or changed” (Long, 1999) with the help of computers. Long emphasizes the importance of “credibility” in journalism, stating that they “have nothing” (Long, 1999) without it. Long refers to the altered ‘Simpson’ photograph on the cover of the ‘Time’ magazine in contrast to the actual ‘Newsweek’ cover photograph. Rather than illustrating the visual as it actually is, Time magazine used deeper shades to tamper with the photograph to communicate to the people their belief that Simpson is guilty. Long emphatically states that presentation of real news and related photography ought to be “real moments capture in time as they happened, unchanged” (Long, 1999) and that any kind of change or alteration “diminishes their power and turns them into lies” and that it is the journalists’ “obligation to history to make sure this does not happen” (Long, 1999). Kenneth Brower (1998) reflects similar concerns in his article ‘Photography in the Age of Falsification,’ in which he expresses his worry about the tampering of nature photography. He states that it has become increasingly simpler for photographers to produce “doctored images” (Brower, 1998) with the aid of an “Adobe Photoshop” (Brower, 1998) worth “$589”
Introduction The aviation industry is approximately two thousand years old. Developments in aviation have been out of human need to excel in both the civilian and military sectors. Kites, gliders, balloons, and advanced aircraft have characterized the development of the aviation industry. The US has been a global leader in aviation development for a long time. Private companies have come up with exceptional inventions that have had a lasting impact in the industry. Over time, various entities including the government and private commercial companies have invested in aviation research often with impressive results. Some of the leading aviation entities in the US today include Lockheed Martin, Boeing and NASA. They have excelled in the development of advanced aircraft for military and commercial use as well as space exploration. Boeing and NASA have especially pioneered developments in their respective fields. This discussion will focus on the Boeing 707 Jet, the Bell X-1 and the NASA Mercury capsule, “Friendship Seven”. The above are some of the most influential aviation inventions ever made in the history of the industry. The Boeing 707 Jet, the Bell X-1 and the NASA Mercury capsule The three developments are noted for pioneering developments in their respective sectors in the aviation industry. They were the “prototypes” on which future developments took place. Introduction of the Boeing 707 into commercial travel was preceded by the use of large aircraft which mostly employed the use of turbine engines. Arrival of the Boeing changed commercial travel and introduced the Jet Age which was characterized by the use of aircraft that were swifter, faster and more efficient. According to Francillon, the aircraft marked a true turning point and a new age in travel (90). Its commercial success ushered in the development of the Boeing 7×7 series which has since set standards for other notable aviation manufacturers such as Airbus. In fact, it is safe to conclude that every flying airliner can easily trace their design and roots to the Boeing 707. Francillon notes that there is likely to be small variation even if a new form of a commercial aircraft is developed (99). It is, therefore, almost a foregone conclusion that commercial aviation will always develop within the confines of the standards that Boeing set in with the 707. One of the most researched elements in aviation is speed. The importance of speed in both military and commercial aircraft cannot be overstated. In 1944, the US military embarked on a research project that sought to develop a supersonic aircraft. Bell Aircraft was tasked with the role of designing of the aircraft. In 1945, the Bell Aircraft produced the Bell X-1, whose derivative was the first aircraft to exceed
Executive Summary The oil industry is the largest supplier of energy in the world. World oil consumption in 2018 is well over 34 billion barrels a year, with the US consuming more than 20% of it. At the same time, oil drilling and refining are associated with significant ecological and sustainability risks. Any potential solutions to the problem must be reviewed in the scope of ecological impact, sustainability, economic feasibility, and timeliness. The solutions reviewed in the scope of this paper include legislative regulation, developing and constructing high-tech and environment-friendly refineries, and exploring untapped reserves through deep-sea drilling. Introduction Energy is the blood of the modern economy. It powers our vehicles, allows trains, ships, planes, and cars to travel back and forth, delivering equipment, materials, and people to where they are needed daily. The US consumes more than 7.2 billion barrels of oil per year, which is more than 20% of the 34 billion barrels a year utilized worldwide. 1 Oil can be used not only as fuel but also as a primary material to produce various plastics. As shown in Fig. 1, the petroleum industry will continue to be a relevant and vital part of the existing world order for at least the next 30-40 years. Fig. 1. Humanity’s energy consumption pool. However, the petroleum industry is at the doorstep of an existential crisis. Oil supplies are dwindling quickly to sate the ever-growing need for energy. At the current rates of consumption, the world would run out of oil in less than 70 years. 2 Besides, the oil industry remains one of the primary sources of environmental pollution. It is impossible to base affirmative action solely on concerns of ecology and sustainability. The oil industry is tied to the world economy in numerous ways. The purpose of this paper is to provide potential solutions for the oil industry based on the criteria of ecological safety, sustainability, and economic impact on the industry and society. Assessment of Criteria The four main criteria used in this feasibility report to assess the potential for implementation of various solutions to ensure the future of the oil industry are as follows:   * Ecological safety. The situation has gotten to a point where ecological issues can no longer be ignored. The melting of polar ice caused by greenhouse gases has the potential to alter the world climate on a drastic scale. There is a danger of seacoast areas of being driven underwater by the rising sea levels. Oil spill accidents, such as the Deepwater Horizon incident of 2010, have the potential of altering major ocean water fluctuations, such as the Gulf Stream, thus negatively affecting climate worldwide. 3   * Sustainability issues. Fuel is a finite resource, meaning that humanity will eventually run out of it. Economic crises, societal changes, resource wars, and other consequences of the collapse of the petroleum industry will be felt worldwide. 4 Therefore, any proposed solutions should provide a way of sustaining humanity with energy.   * Economic concerns. Humanity exists in a complex system of political, territorial, and economic boundaries
Summary Gambling is a rather controversial social phenomenon. Scholars disagree on its positive and negative influence. Hong Kong is not recommended to legalize gambling as such a step might lead to considerable social problems including pathological gambling, an increase of income gap between the rich and the poor, further development of poverty. As well, legalized gambling does not mean additional income to Hong Kong’s budget, as Macau has a more developed gambling industry and Hong Kong will not stand the competition with Macau. As an alternative to gambling, tourism development is recommended for Hong Kong as a tool to boost economic development and create new jobs. Problem The problem is the danger of legalizing casino gambling activities in Hong Kong. Scholars like Cheng (2008) and Hang-tai and Ngai-kuen (2005) argue that gambling takes pathological forms and can be dangerous from both social and economic points of view. At the same time, Hong Kong Government considers gambling activity legalization as one of the most effective economic development tools that would allow increasing fiscal revenue within a short period (McCartney, 2006, p. 41). Thus, the problem is in the controversy of the allegedly positive and negative effects of gambling legalization on the social and economic development of Hong Kong. Context The problem should be viewed in the context of the specific Hong Kong position as a part of China, the rather difficult global economic conditions, and the rates of gambling observed in Hong Kong. Macau is the only Chinese special administrative region (SAR) where gambling is legalized ($3.5 billion of annual gambling revenue), and Hong Kong will not benefit from legalization as the competition with Macau will be too strong (McCartney, 2006, p. 41). Moreover, the global economic crisis might condition unlawful use of gambling activities by Hong Kong officials if gambling is legalized (Hang-tai and Ngai-kuen, 2005, p. 2). Finally, according to Key Statistics (2005), gambling is a serious issue in Hong Kong with 80.4% of citizens participating in legal (or illegal) gambling and 25.4% spending over $1000 for gambling per month (Key Statistics, 2005, pp. 5 – 6). Drawing from these data, gambling is a serious social and economic threat to Hong Kong, and its legalization is rather dangerous. Alternatives To avoid this dangerous step, the further development of th