Patterns in Religion Adherence Essay

Patterns in religious adherence have been steadily changing since the 1947 Australian census. The most noticeable difference is in the constant drop in the number of people that identify themselves as belonging to the Anglican church- an average of 2% every 5 years. In 1947 39% of the entire population claimed to be Anglican and by 2011 that number declined to 17.1%. Although Christianity is still the most popular religion in Australia the overall number of adherents has dropped from 88% to 63%. After World war 2, Australia saw an increase in many denominations in Christianity. More traditional churches such as the uniting church and the Presbyterian and reformed churches all experienced a downturn, losing 14.9% and 11.7%. The newer Pentecostal movement gained momentum with a 25.7% increase since 1996. Catholic, Baptist and orthodox churches also saw significant increase and gained 6.8%, 7.3% and 9.5% respectively. In Australia, 1947, 0.5% claimed to belong to a religion other than Christianity, but in 2006 increased to 5.6%. Buddhism 2.1% Hinduism 0.7%, Islam 1.7% Judaism 0.4% and other religions 0.5%. Hinduism was the fastest growing religion with a rate of 120.2% Buddhism and Islam also grew quickly. The other religions category rose 58.8% (includes spiritualism, wicca and Swedenborg) Judaism gained 11.3% which is smaller than the other religion but still significant and Australian aboriginal traditional religion had a decrease losing 29% between 1996 and 2001. Immigration has been the most dramatic effect leading to an increase in some groups and the decline of other. Other reasons are the movement from one denomination to another, seeking answers in new religious or spiritual movements and an increase in those who acknowledge that they have no religion. Besides Israel Australia has taken in more immigrants (relative existing population) than any other country in the world. Because of this there are now 14 orthodox denominations in Australia and more Eastern Catholic churches to cater for a wider range of ethnic communities. The national church life survey (surveys conducted in major churches in Australia) shows some of the reasons for the increases and decreases in Christian denominations, these being attenders switching from other denominations, decreasing their attendance or stopping attending completely, people attending for the first time or after an absence of a number of years, the birth of children often encourages them to come back and death. Pentecostal churches have the most amount of people switching into their denomination as well as the most amount of people drifting away or switching again. New age religions were also among the fastest growing faiths in the 2001 census increasing by 140% in the 5 years since 1996. Hinduism was not noted in 1947 but in the 1996 census Hinduism had taken 0.4% of adherents from a religion other than Christianity, by 2001 it had grown to 0.5%, 2006- 0.7% and 2011- 1.3%. The decline of the â€Å"White Australia† policy in the 1970’s meant it became easier for migration from a greater range of ethnic groups. Immigration from Asia (India, Malaysia and Indonesia) and the Middle East (particularly Lebanon, Iraq and Iran) has extended Hinduism. Overseas wars and persecution have led to waves of immigration from affected areas for example Lebanon in the 1980’s, which led to an increase in Hinduism in Australia. Many Hindus where also brought to Australia from India by the British to work on cotton and sugar plantations. Hinduism is the fastest growing religion and the fastest since 2006, increasing from 148,130 to 275,534 accounting for 1.3% of religions other than Christianity. This may not be only from immigration from countries where Hinduism is prominent but also because of Australians curiosity and need to experience different things. Hinduism focuses on polytheism meaning they worship many deities, but some Hindu’s describe it as one god in many different forms, some people may have been beginning to search for something other than Christianity and the basics of it, so Hinduism became more popular as a way for people to experience a wider array on how to live life in accordance to religion. Hinduism accepts the existence of all religions; it allowed people to express their spirituality. It may have also been the diversity of the Hindu beliefs that interested Australians, and played a part in its rapid growth.

Bony Anatomy The Knee Joint Health And Social Care Essay

IntroductionThe undermentioned chapter intends to supply an overview of current literature pertinent to this survey. A brief lineation of related anatomy and biomechanics of the articulatio genus articulation will be discussed, every bit good as a theoretical association of articulatio genus degenerative arthritis and the lower kinetic concatenation. The clinical, aetiological and epidemiological facets of degenerative arthritis of the articulatio genus will be provided, along with the possible effects that assorted intervention option may hold on this disease.Anatomy2.2.1 Bony Anatomy of the Knee JointThe articulatio genus joint maps chiefly as a big hinge-type articulation, dwelling of three articulations ; two tibiofemoral articulations between the medial and sidelong femoral and tibial condyles, and one patellofemoral articulation between the posterior facet of the kneecap and thighbone ( Moore and Dalley, 1999 ) . Due to the comparative incongruence of the articulating surfaces, the articulatio genus articulation composite is inherently unstable, hence two fibrocartilage phonograph record ( semilunar cartilage ) exist in the infinite between the shinbone and thighbone, are attached to the intercondylar distinction of the shinbone, and farther addition the congruency of the joint every bit good as provide extra stableness ( Magee, 2008 ) . In add-on to the semilunar cartilage, legion environing ligaments play an of import function in stabilization of the articulatio genus. The name, location and specific map of these ligaments are outlined in the tabular array below.Table 2.1.1 Name Location and maps of articulatio genus ligamentsNameLocationFunctionMedial ( tibial ) collateral ligament ( MCL ) Anchored superiorly to the median femoral epicondyle, inferior to the adductor tubercle, and descends anteriorly to attach to the median border and median surface of the shinbone above and behind the fond regard of sartorius, gracilis, and semitendinosus sinews. Attaches by much of its deep surface to the underlying hempen membrane of the median semilunar cartilage. Stabilises the hinge-like gesture of the articulatio genus and prevents knee abduction Lateral ( fibular ) collateral ligament ( LCL ) Attaches superiorly to the sidelong femoral epicondyle, superior to the channel for the popliteus sinew. Inferiorly, it is attached to a depression on the sidelong surface of the fibular caput. It is separated from the hempen membrane by a Bursa Stabilises the hinge-like gesture of the articulatio genus and articulatio genus adduction. It is stronger than MCL Anterior cruciate ligament ( ACL ) Attaches to a aspect on the anterior portion of the intercondylar country of the shinbone and ascends posteriorly to attach to a aspect at the dorsum of the sidelong wall of the intercondylar pit of the thighbone Complect the thighbone and shinbone, stops tibia traveling frontward on thighbone, and prevents hyper-extension and inordinate internal rotary motion. ACL crosses sidelong to the PCL as they pass through the intercondylar part Articular capsule and the Bursa Articular capsule presents merely at the sides and posterior facets of the articulatio genus, where it covers the majority of the femoral and tibial condyles. It is stabilised and straighten by the joint ligaments and the musculus sinews. Bursa are extensions of the articulatio genus synovial pit and are filled with synovial fluid The capsule consists of an external hempen bed ( hempen capsule ) and an internal synovial membrane, which is uninterrupted with the synovial liner of the Bursa. They act to cut down clash between the sinews and implicit in castanetss ( hypertext transfer protocol: //andme26.hubpages.com/hub/Anatomy-of-the-knee-Bones-Muscles-Arteries-Veins-Nerves )2.2.2 Neurovascular StructuresTable 2.1.2 Neuravascular constructions of the articulatio genus2.2.3 Lower Limb MusculatureThe primary musculus groups responsible to making motion at the articulatio genus articulation are the quadriceps femoris ( extension ) and hamstrings ( flexure ) . The fond regards, excitation and action of the single musculuss within the quadriceps and hamstring are described in Table 2.1.3.1 and Table 2.1.3.2, severally.Table 2.1.3.1 Attachments, Innervation and Action of Quadriceps Femoris ComponentsMuscleProximal AttachmentDistal AttachmentExcitationActionRectus Femoris Anterior inferior iliac spinal column and Troy superior to acetabulum Via a common sinewy interpolation to the base of kneecap ; indirectly via patellar ligament to tibial tubercle Femoral Nerve ( L2, L3, L4 ) Extend leg at articulatio genus articulation ; rectus femur besides steadies hip articulation and helps iliopsoas musculus flex the thigh Vastus Lateralis Greater trochanter an sidelong lip of linea aspera of thighbone Vastus Medialis Intertrochanteric line and median lip of linea aspera of thighbone Vastus Intermedius Anterior and sidelong surfaces of shaft of thighbone ( Table abridged from Moore and Dalley, 1999 )Table 2.1.3.2 Attachments, Innervation and Action of Hamstrings ComponentsMuscleProximal AttachmentDistal AttachmentExcitationActionSemitendinosus Ischial tubercle Superior portion of shinbone on median surface Tibial division of sciatic nervus ( L5, S1, S2 ) Extend thigh ; flex leg and revolve it medially when articulatio genus is flexed Semimembranosus Ischial tubercle Posterior portion of shinbone on median condyle Bicepss Femoris Long caput: ischial tubercle Short caput: linea aspera and sidelong supracondylar line of thighbone Fibula on sidelong side of caput Long caput: Tibial division of sciatic nervus ( L5, S1, S2 ) Short caput: Common fibular division of sciatic nervus ( L5, S1, S2 ) Extend thigh ; flex leg and revolve it laterally when articulatio genus is flexed ( Table abridged from Moore and Dalley, 1999 )2.2.4 Lower Limb BiomechanicsThe primary motions of the articulatio genus are flexure and extension, with a smaller rotational constituent when the articulatio genus is flexed ( Moore and Dalley, 1999 ) . Table 2.1.4 outlines the chief motions of the articulatio genus articulation, every bit good as the name and action of the musculus bring forthing them.Table 2.1.4 Motions of the articulatio genusMotion and scope of motionNameActionKnee flexors 135A °-150A ° 1. Hamstrings ( semitendinosus, semimembranosus, biceps femoris ) 2. Popliteus Flexs and rotes leg medially, locks and unlocks the articulatio genus from beginnings of flexure Knee extensors 0A °-10A ° Quadricepss femoris ( rectus femur, vastus lateralis, vastus medialis, vastus intermedialis ) extends leg, ( but flexes thigh by action of rectus femur ) Medial rotary motion 0A °-10A ° Popliteus ( non-weight bearing articulatio genus extended ) , or semitendinosus and semimembranosus ( when knee flexed ) Weakly flexes articulatio genus, unlocks knee by revolving femur 5A ° laterally on fixed shinbone Lateral rotary motion 0A °-30A ° Bicepss femoris ( when knee flexed ) Weakly flexes articulatio genus, unlocks knee by revolving femur 5A ° medially on fixed shinbone ( hypertext transfer protocol: //andme26.hubpages.com/hub/Anatomy-of-the-knee-Bones-Muscles-Arteries-Veins-Nerves ) The comparative incongruence of the articular surface consequences in the articulatio genus being comparatively weak automatically, and a greater trust on the actions of environing musculuss, sinews and ligaments for strength and support ( Magee, 2008 ) . The anterior thigh musculuss are the most critical of these supports, with the quadriceps femoris musculuss being the most of import stabilizer of the articulatio genus articulation ( Moore and Dalley, 1999 ) . Because of the fond regard of the quadriceps femoris musculus across two articulations, it is capable of bring forthing action at both the hip and the articulatio genus ( Moore and Dalley, 1999 ) . The three vastus musculuss ( vastus intermedius, vastus medialis and vastus lateralis ) form the primary extensor musculus group of the articulatio genus ( Moore and Dalley, 1999, Magee, 2008 ) . The rectus femoris division of the quadriceps femoris musculus Acts of the Apostless, along with the iliopsoas, to flex the hip ( Moore and Dalley, 1999 ; Marieb, 2004 ) ; therefore its ability to widen the articulatio genus is compromised when the hip is flexed. As a consequence, the ability of the quadriceps femoris musculus group to bring forth knee extension is most effectual when the hip articulation is extended ( Moore and Dalley, 1999 ) . The hamstrings musculus group produces extension at the hip and flexure at the articulatio genus ( Moore and Dalley, 1999 ; Marieb, 2004 ) . These two actions of the hamstrings can non be performed maximally at the same clip, as full flexure of the articulatio genus requires so much shortening that the hamstrings can non supply the extra contraction needed for full extension of the hip, and frailty versa ( Moore and Dalley, 1999 ) . The hamstrings, nevertheless, demonstrate most activity when they are eccentrically undertaking to defy hip flexure and articulatio genus extension ( Moore and Dalley, 1999 ) . A survey by Wilson et Al ( 2011 ) aimed to look into the correlativity between articulatio genus articulation biomechanics and neuromuscular control and moderate articulatio genus degenerative arthritis radiographic and pain badness, higher articulatio genus adduction minutes ( during stance stage ) and lower articulatio genus flexure angles ( full pace rhythm ) were associated with higher RVAS. Higher hurting tonss were associated with lower pace velocities and reduced activation of the sidelong gastroc between early and late stance stage, which the writers suggested may be a mechanism to antagonize high median compartment articulation burden. Additionally, increased activation of the median hamstring between early stance stage and toe off may be declarative of higher coactivity of these musculuss in a guarding mechanism to increase joint stiffness and cut down the hurting, and perchance to compensate joint instability.2.2.4.1 Kinetic Chain TheoryThe kinetic concatenation is defined as â€Å" a combination of several in turn arranges myofascial, articular and nervous constituents, representing a complex unit † ( Bergmann & A ; Peterson, 2002 ) . In order for this system to map, it requires optimum alliance, mechanics and enlisting of these articulations. There are 3 sub-systems within a kinetic concatenation ( active, inactive and nervous ) , all of which contribute to the production of motion: In the lower limb there exists a functional relationship between the articulatio genus and the superior articulations in the hip and lumbopelvic spinal column, every bit good as the pes and mortise joint, inferiorly. When the pess are weight-bearing, the kinetic concatenation is closed and the links map interdependently, with a alteration in one articulation ensuing in an immediate consequence on the kinematics of other articulations in the concatenation. Therefore, a disfunction in the articulatio genus can hold a direct consequence on next articulation in the concatenation, and frailty versa. This highlights the importance of turn toing non merely the country of ailment, but besides next parts to rectify any potentially altered biomechanics of the kinetic concatenation in entirety.Overview of Osteoarthritis of the KneeEpidemiologyIncidence and PrevalenceBy the age of 60 old ages, about 100 % of the population will hold histologic alterations of devolution in their articulatio genus gristle, over 80 % will hold radiographic grounds of OA in at least one articulation, about 40 % will describe clinical symptoms of arthritis, and 10 % will see activity restriction ( Loeser 2000 ) .Hazard FactorsHarmonizing to the Framingham degenerative arthritis survey, the major hazard factors for KOA were age, female gender, fleshiness, non-smoking, occupational articulatio genus bending, physical labor, and chondrocalcinosis ( Felson 1993 ) . Other hazard factors identified are listed in the tabular array below.Table 2.2.1 Hazard factors and Protective factors for KOA harmonizing to the F ramingham OA surveyHazard factorsAge Female gender Geneticss Race Geographic Fleshiness Major articulation injury Occupational Immobilization High bone mineral denseness Joint hypermobility & A ; instability Insistent articulation usage Peripheral neuropathy Prior inflammatory articulation disease Congenital/developmental defects Crystal deposition in articulations Oestrogen surplus Diabetess, high blood pressure, hyperuricaemiaProtective factorsSmoking Osteoporosis Weight decrease Age: Age is the strongest hazard factor for OA, with an addition in prevalence of diagnostic OA from 7.0 % in those aged 63-69 old ages old to 11.2 % in those over the age of 80. Radiographic grounds of OA increased from 27.4 % amongst those in their 1960ss compared to 43.7 % prevalence in those in their 1880ss ( Felson 1987 ) . Gender: Age related increased in OA were found to be more evident in females ; non merely with respect to incidence, but besides in badness and rate of patterned advance ( grade 3/4 alterations increased in prevalence by 7.9 % from the 6th to eighth decennary of life ( Felson 1990 ) . Although there was small or no difference in gender prevalence of mild OA ( Roberts 1996 ) , females tended to hold more terrible OA, a greater figure of joint engagements, more symptoms, and a higher prevalence of manus and articulatio genus OA ( Kellgren-Lawrence 1963 ) ( Felson1995 ) . Recent surveies suggest that post-menopausal oestrogen lack may play a function in development of KOA in older adult females ( Nevitt 1996 ) . Males, nevertheless, had an increased prevalence of hip OA ( particularly in those aged 55 and supra ) ( Kellgren-Lawrence 1963 ) Fleshiness: Fleshiness is the strongest modifiable hazard factor for development of KOA, particularly in adult females ( Loeser 2000 ) . Harmonizing to the Framingham survey, higher organic structure mass index ( BMI ) was associated with an odds ratio of 1.6 per 5-unit addition in BMI. Similarly, a weight loss correlated to a 40 % lessening in hazard of KOA per 10-lb ( ~4.5kg ) weight loss ( Felson 1988/1997 ) . Hazard for development of KOA increased exponentially when fleshiness was present with an extra hazard factor, such as heavy physical activity. Aged patients in the upper tertile of BMI who performed at least 3 hours of physical activity daily had an odds ratio of 13 for development of KOA ( McAlindon 1999 ) . Major joint injury: The comparative hazard for development of radiographic KOA following meniscectomy for direction of stray meniscal cryings was 14 ( Roos 1998 ) . Surveies besides suggest that quadriceps failing increased the hazard of both radiographic and diagnostic OA ( Slemendra 1997 ) . Insistent articulation usage: While there is deficient informations to propose that featuring activities may take to generalised OA ( Lane 1993 ) , it has been shown that certain businesss may do the overexploitation of peculiar articulations, therefore increasing the hazard of development of localized OA ( Croft 1992 ) . For illustration, occupational articulatio genus bending is strongly associated with KOA and mineworkers frequently exhibit marks of spondylosis ( Felson 1990 ) . Muscle dysbalance & A ; wasting: Muscles play a major function in joint biomechanics as the green goods motions, absorb burden, and supply dynamic joint stableness. It is therefore possible that musculus failing due to aging or anterior injury my consequence in loss of the protective musculus control, inordinate joint motion and instability ( Slemendra 1997 ) . Ultimately this will do stress-induced microtrauma of the articular gristle due to the increased happening in physiological shear and extremum articulation forces. Over an drawn-out period of clip, this microtrauma will do gristle devolution, with pathological subchondral force per unit area addition and attendant subchondral induration, and joint prostration with axis maldeviation ( mention ) . Slemenda et Al. conducted a prospective survey in which reduced articulatio genus extensor strength was present in those topics who developed OA as compared to the unaffected participants ( Slemendra 1998 ) . Similar findings were seen in a survey by on patients with one-sided mortise joint OA, in which the affected side displayed reduced calf perimeter and decreased electromyography ( EMG ) frequences of lower leg musculuss ( Valdererrohano 2006 ) . In a healthy person, musculus biopsies have shown wasting of type-1 musculus fibers ( slow-twitch ) in the vastus lateralis following periods of articulatio genus immobilization. In KOA patients nevertheless, failing of the vastus lateralis was largely due to type-2 fiber wasting ( Nakamara and Suzuki 1992 ) . Fink et al so investigated the structural alterations in the vastus medialis and found type-2 fiber wasting in all specimens ( which was consistent with informations from Nakamara ) every bit good as extra type-1 fiber wasting in 32 % of patients ( Fink 2007 ) . Exercise preparation has been found to increase diameter of both type-1 and type-2 musculuss fibers ( Saltin 1977 ) , and was therefore the recommendation of the writers in order to antagonize the musculus wasting and therefore protract the oncoming of OA. As musculuss increase in size with exercising, it is suspected that wasting in creaky patients is non merely caused by neglect in the presence of joint stiffness and hurting, but besides by age-related sarcopenia ( generalized loss of skeletal musculus mass ) , physical immobilization and decreased physical activity ( Goodpaster 2006 ) . This musculus wasting, irrespective of its causative pathomechanism, has been found to be strongly correlated to the development of OA. Since exercising additions muscle mass and improves musculus map, it is likely to play an of import function in intervention and bar of OA.PathologyOA is characterised by focal loss of gristle with grounds of attach toing periarticular bone response. Clinically, it presents as joint hurting and crepitus in the aged age group, and is radiographically characterised by reduced joint infinite, osteophytes and a assortment of malformations that develop as the disease progresses.Pathogenesis and MorphologyNormal hyaline gr istle comprises chondrocytes ( 1-2 % ) embedded in extra-cellular matrix, which in bend is constituted by H2O, type-II collagen and proteoglycans. Articular gristle performs two chief maps: 1 ) along with synovial fluid, it provides virtually friction-free motion within the joint ; and 2 ) in weight-bearing articulations, it spreads the burden across the joint surface in a mode that allows the implicit in castanetss to absorb daze and weight. These maps require that gristle be elastic and have a high tensile strength. These properties are provided by proteoglycans and type II collagen, both of which are produced by chondrocytes. Articular gristle invariably undergoes matrix devolution and replacing. Any instability in normal chondrocytes ability to keep gristle synthesis and debasement can take to OA. Majority of the pathological alterations in OA occur in the gristle itself, nevertheless as the disease progresses, the organic structure and synovial constructions besides begin to de mo marks of devolution. ( Reference ) Cartilage Changes: Chondrocyte map can be affected by a assortment of influences, including mechanical emphasiss, aging, metabolic and familial factors, increased bone denseness and high oestrogen degrees. Regardless of the inciting stimulation, early OA is marked by the degenerating gristle incorporating more H2O and less proteoglycan ( mention ) . This occurs as a consequence of an enzymatic debasement of the major structural constituents, aggrecan and collagen, which causes reactive proliferation of chondrocytes to organize bunchs ( ringers ) with increased production of matrix constituents. Although the turnover of aggrecan constituents is increased, the concentration finally falls. The lessening in size of hydrophilic aggrecan molecules increases the H2O concentration and swelling force per unit area in gristle, farther interrupting the staying staging of type II collagen. Overall, gristle tensile strength and resiliency are compromised doing it susceptible to supporting hurts. ( BOON ET AL ) Progression of these alterations leads to transgress of surface unity, crevices, opposing, flaking of gristle and development of perpendicular clefts ( fibrillations ) , localised chondrocyte decease and lessening in gristle thickness. Cartilage loss is focal instead than widespread and normally restricted to the maximal supporting portion of the joint ( BOON ET AL ) . Gross scrutiny at this phase reveals a soft farinaceous articular gristle surface ( kumar et Al ) . Bone Changes: The bone instantly below the compromised gristle responds by increasing its trabecular thickness ( subchondral induration ) , which in some instances reflects healed trabeculate microfractures or countries of osteonecrosis caused by the increased force per unit area in bone as the gristle fails in its load-transmitting map. The break gaps allow synovial fluid to be forced into the subchondral parts, organizing hempen walled cysts. At the border of the joint there is formation of new fibrocartilage, which so undergoes endochondral ossification to organize osteophytes. Despite cardinal and fringy new bone formation, with terrible gristle loss, crevices may intensify and expose the subchondral bone to have on, with the unprotected bone ends going ivory-like due to inspissating and vascularization ( eburnation ) , frequently with deep linear furrows ( BOON ET AL ) . Small breaks can free pieces of gristle and subchondral bone into the joint, organizing loose organic structu res ( joint mice ) . Bone remodelling and gristle thinning easy alter the form of OA articulations, increasing their surface Other Changes: The synovial membrane undergoes variable grades of hyperplasia, sometimes as aureate although less widespread as RA ( In terrible disease, a hempen synovial pannus covers the peripheral parts of the articular surface ) . Osteochondral organic structures normally occur within the synovial membrane, reflecting chondroid mataplasia or secondary consumption and growing of damaged gristle fragments. The outer capsule besides thickens and contracts, normally retaining the stableness of the remodelling articulation. The musculuss that act over the joint normally show non-specific type-II fiber wasting ( BOON ET AL ) .Natural HistoryThe class of OA is extremely variable. Those patients with multiple affected articulations tend to hold a more rapid patterned advance of OA in their single articulations ( Felson 1993 ) . Advanced age ( Felson 1993 ) and fleshiness ( Felson 1993 ) are besides associated with more rapid patterned advance. Primary OA is regarded as by and large easy progressive, which is apparent in one 3rd to two tierces of radiographic OA instances ; while it has been known to brace for many old ages, betterments are rare ( kumar et Al ) . Diagnostic OA may come on, or better, or may even be arrested due to the fact that symptoms have been shown to be ill correlated to radiographic patterned advance ( Kellgren-Lawrence 1963 ) . Osteophye encroachments on spinal hiatuss are a common cause of nervus root entrapment, which may ensue in neurological shortages such as radicular hurting, musculus wasting or cramp, and centripetal loss. With clip, entire articulation prostration may happen, but unlike Rheumatoid arthritis, does non ensue in joint anchylosis ( merger ) . ( kumar et Al )Subsets of OAPrimary OA can be categorised into three major subsets, although it may non be easy to find an exact differentiation between the subsets ( Doherty 1994 ) . Nodal Generalised OA: GOA is characterised by distal, and proximal to a lesser extent, interphalangeal ( IP ) articulation engagement, Heberden ‘s nodes ( cadaverous expansion of DIP articulation ) , Bouchard ‘s nodes ( cadaverous expansion of PIP articulation ) and familial bunch. It peaks at in-between age and is common in females ( Doherty 1994 ) . Erosive OA: Characterised by engagement of IP articulations of custodies, frequently with aureate redness and erosive alterations, that subsequently take to malformations and anchylosis. A little proportion ( 15 % ) may germinate into seropositive rheumatoid arthritis ( Doherty 1994 ) . Isolated big joint OA: Knee: This is the most common signifier of OA, frequently happening bilaterally. It may affect preponderantly the median femorotibial, sidelong femorotibial or patellofemoral compartment. Hip: Predominantly involves the superior pole or the median compartment. Spinal column: Apophyseal joint engagement is the lone true signifier of OA that can affect the spinal column and is typically manifested my hurting on extention on the spinal column. Intervertebral phonograph record ( IVD ) devolution with osteophyte formation is considered an built-in portion of OA, and normally affects the lumbar and cervical parts. Diffuse intraosseeous skeletal hyperostosis ( DISH ) and ossification of posterior longitudinal ligaments ( OPLL ) are considered to be discrepancies of spondylosis, and comprise fluxing calcification of the disc border and anterior and posterior longitudinal ligament, severally ( mention ) .Clinical FeaturesSigns and symptoms of OA may take many old ages after the oncoming of the disease to go clinically apparent. This is due the fact that the patterned advance of the disease is extremely variable & A ; there tends to be hapless correlativity to radiographic and microscopic patterned advance. Another possible ground that there may be a hold in the visual aspect of symptoms after devolution has taken topographic point is because due to a deficiency of excitation within the gristle ( Lane 1993 ) . Joints normally involved in OA are the articulatio genus, fingers, and spinal apophyseal articulations. Less normally are the hips, acromioclavicular and sternoclavicular articulations, while carpal, cubitus, mortise joint and glenohumeral articulations are seldom involved in isolation.Signs and SymptomsSymptoms if OA often have an insidious oncoming and an asymmetrical distribution, subsequently going symmetric as the disease progresses. Factors that may foretell the presence of diagnostic OA and rate of patterned advance include advanced age, fleshiness and multiple affected articulations. The central marks of OA include bony puffiness, synovial gush, crepitus, restricted scope of gesture, joint malformation and, musculus failing and wasting. Symptoms associated with OA include hurting, joint stiffness and functional damage, although all need n't be present at the same clip & A ; badness: Pain: Pain normally begins as an intermittent localised deep aching in and around the affected articulation, frequently exacerbated by motion. As the disease progresss, hurting may go more relentless, going nowadays at dark and during remainder. In KOA, hurting is normally localised to the front tooth and median facets of the articulatio genus and upper thigh, normally occurs with step usage, mounting in and out of vehicles, and making day-to-day activities such as bathing, standing from a seated place and utilizing a lavatory. These jobs may be amplified in the presence of attendant hip pathologies, where normal walking pace is likely to be altered as a consequence of the inguen and leg hurting. Stiffness: Stiffness in the involved articulations is typically present and worst first thing in the forenoon ( forenoon stiffness ) and lasts between five and 30 proceedingss. Stiffness may besides be present subsequently in the twenty-four hours after periods of remainder or inaction ( gelling ) , but is brief and relieved by soft motion ( Doherty 1994 ) . This stiffness is frequently associated with impaired motion within the joint and my consequence from a figure of causes ; joint adhesion, capsular tightening and thickener, inflexibleness of the overlying soft tissue and/or altered joint construction ( eg. as a consequence of osteophyte formation ) . Functional Damage: The badness of functional damage is mostly dependent on the grade of devolution, type of joint involved every bit good as the specific location of the devolution within the joint. For illustration, if there is pronounced devolution with osteophyte formation on next jointing surfaces, which make contact during motion, one would anticipate to happen that scope of gesture is impaired. Similarly, loose organic structures may ensue in reduced scope of gesture every bit good as possible lockup or buckling, particularly if located within the articulatio genus articulation. Crepitus develops as a consequence of gristle loss articulation and abnormalities on jointing surfaces such that they longer skid swimmingly over one another. This creates a stuttered-type gesture, which can be palpated on scrutiny of scope of gesture. In terrible instances this crepitus may even make hearable â€Å" dads † . Crepitus is present in over 90 % of patients with KOA ( mention ) . In terrible instances, joint subluxation may happen when there is uneven wear of the joint surfaces. Over an drawn-out period of clip this will ensue in asymmetrical joint infinite narrowing and finally prostration. When this occurs in the articulatio genus, the median tibiofemoral articulation to typically more affected than the sidelong and in over 50 % of patients will do the development of a knee varus ( â€Å" bow leg malformation † ) . Functional damage may besides ensue non merely from structural alterations to the joint surfaces, but besides from other alterations associated with OA, such as arthrogenic musculus suppression. In this instance, the patient may see failing due to wasting of the surrounding musculuss, every bit good as stiffness or reduced scope of gesture due to inflexibleness ( Hurley 1998 ) .Table 2.2.2 Outline of Typical Symptoms of OsteoarthritisSymptomsPatient over age of 45 Insidious onset over months or old ages Variable or intermittent hurting over clip Chiefly related to motion and weight-bearing, relieved by remainder Merely brief forenoon ( & lt ; 15 proceedingss ) stiffness and â€Å" gelling † ( & lt ; 1 minute ) after remainder Normally merely one or two articulations painful ( non multiple regional hurting ) ( Adapted from Davidson ‘s )Table 2.2.3 Outline of Clinical Signs Characteristic of OsteoarthritisSignsRestricted motion ( capsular thickener, barricading by osteophytes ) Palpable, sometimes hearable, class crepitus ( unsmooth articular surfaces ) Bony swelling ( osteophytes ) around articulation borders Deformity, normally without instability Joint-line or periarticular tenderness Muscle failing, blowing No, or merely mild, synovitis ( gush, increased heat ) ( Adapted from Davidson ‘s )2.3.3.2 Arthrogenic Muscle Inhibition ( AMI )AMI is defined as the failure of a functional musculus group to enroll all motor units during maximum voluntary contraction ( Suter et al, 2000 ) . When joint receptors are subjected to distention, compaction, ligamentous stretch, gush and hurting, this protective mechanism is activated, doing automatic suppression of the environing muscularure to forestall farther hurt to the joint ( Crossman and Neary, 1995 ) . The hurting, joint annoyance and musculus cramps frequently associated with KOA, taking to biomechanical alterations and redness, consequences in an suppression of the joint motorneuron pool and inability to enroll all the musculus fibers within the musculus groups that cross the affected articulation. The net consequence is: lessening musculus strength ( existent and/or evident failing ) , doing holds in the rehabilitation advancement ( Hopkins and Ingersoll, 2000 ) Altered motion forms due to a alteration in motor control and joint proprioception, increasing the hazard of hurting, re-injury and accelerated devolution because of the deformed articulation forces ( Lee, 4004 )Diagnostic StandardsPrior to the development of clinical standards for diagnosing of OA in 1981? , the diagnosing of OA was frequently based on radiographic visual aspect and standards proposed by Kellgren and Lawrence in 1957, which is accepted by the World Health Organisation. The diagnosing of OA is mostly clinico-radiographic, that is both clinical and radiographic characteristics are taken into consideration to find the presence and badness of the disease. It is widely acknowledged that radiographic alterations may non be present in the early phases of devolution, while merely 40-50 % of patients with radiographic grounds of OA are clinically symptomless ( Roberts 1996 ) . For this ground the American Rheumatism Association devised diagnostic standards for OA in assorted articulations.Table 2.2.4 Clinico-radiographic Classification Criteria for Osteoarthritis of the KneeTraditional formatClassification tree formatKnee hurting OsteophytesPlusOne of three: Age & gt ; 50 old ages Stiffness & lt ; 30 proceedingss Crepitus Knee hurting and OsteophytesOrKnee hurting and age a†°? 40 old ages and forenoon stiffness a†°Ã‚ ¤ 30 proceedingss in continuance and crepitus on gesture( Altman 1986 )Table 2.2.5 Clinico-radiographic Classification Criteria for Osteoarthritis of the HipHip hurting At least two of the followers: ESR Westergreen & lt ; 20mm/hr Radiographic femoral or cotyloid osteophytes Radiographic joint infinite narrowing ( superior, axial and/or medial )( Altman 1991 )Table 2.2.6 Clinico-radiographic Classification Criteria for Osteoarthritis of the HandssHand hurting, hurting, or stiffness Three or four of the followers: Hard tissue expansion of 2 or more of 10 selected joints* Hard tissue expansion of 2 or more DIP articulations Less than 3 conceited MCP articulations Deformity of at least one of 10 selected joints* * 10 selected articulations are 2nd and 3rd DIP articulation, 2nd and 3rd PIP articulation, and 1st carpometacarpal joint( Altman 1990 )Radiographic DiagnosisThere are eight central marks of DJD: asymmetric distribution, non-uniform loss of joint infinite, osteophytes, subchondral induration, subchondral cysts, intra-articular loose organic structures, intra-articular malformation, and joint subluxation. The radiographic presentation of OA varies depending on the joint involved, the anatomic relationships, and the emphasis to which the articulation is subjected. Therefore all eight marks need non be present in order to set up a diagnosing of OA ; nevertheless they may be utile in in finding the grade of underlying diseased sequences affecting the joint compartments. The tabular array below is the scaling system used to set up radiographic badness of OA ( mention – Y & A ; R? ) .Table 2.2.7 Kellgren-Lawrence Classification of OsteoarthritisDescriptionNormal No alteration Class I Improbable narrowing of the joint infinite, possibleA osteophytes Grade II SmallA osteophytes, possible narrowing of the joint Grade III Multiple, reasonably sizedA osteophytes, definite joint infinite narrowing, some sclerosed countries, possible distortion of bone terminals Grade IV Multiple largeA osteophytes, terrible joint infinite narrowing, marked induration and definite cadaverous terminal malformation. mention Asymmetrical Distribution: There is often a seeable disparity when comparing the extent of joint engagement with the unaffected ( or lesser affected ) articulation on the contralateral side. The asymmetrical distribution of OA helps to separate it from inflammatory arthropathies, such as RA, when have a characteristically symmetrical engagement ( mention – Y & A ; R? ) . Non-Uniform Loss of Joint Space: Decrease in joint infinite is most likely to happen at the parts of greatest intra-articular emphasis, which is particularly apparent in weight-bearing articulations such as the spinal column, hip, and articulatio genus ( mention – Y & A ; R? ) . Osteophytes: Radiographically, these are seen as cadaverous branchs widening from the part of capsular interpolation into the joint infinite. In really terrible instances the osteophyte may wholly bridge the joint infinite, doing anyklosis of the joint ( cite – Y & A ; R? ) . Subchondral Sclerosis ( Eburnation ) : This is normally apparent in countries where there is the greatest loss in gristle tallness. It occurs as a consequence of increased mechanical forces being transmitted to the joint surfaces that lack the daze absorbing consequence of normal gristle thickness. In order to antagonize these increased forces, the bing trabeculate bone thickens and new bone is formed. This is seen on radiogram as increased countries of radio-opacity in the subchondral bone underlying parts of reduced joint infinite ( mention – Y & A ; R? ) . Subchondral Cysts ( Goedes ) : These are focal parts of loss in bone denseness, of variable size, which appear as rounded countries of radiolucency and frequently have a sclerosed border. They are located in countries of old subchiondral induration, and occur either as a consequence of synovial fluid invasion through the open articular home base or secondary to trabeculate break and subsequent mortification ( mention – Y & A ; R? ) . Intra-Articular Loose Bodies ( Joint Mice ) : As joint devolution advancements, flaking and atomization may ensue in intra-articular accretion of free drifting organic structures, comprised mostly of gristle and on occasion subchondral bone ( mention – Y & A ; R? ) . Articular Deformity: Progressive distortion of the articular surfaces may happen following insistent emphasis, doing big subchondral cysts, trabeculate remodelling, break and prostration, which may be exacerbated my mortification due to secondary vascular perturbations ( mention – Y & A ; R? ) . Joint Subluxation: The joint finally becomes unstable and prone to displacement due to joint surface distortion, loss of joint infinite, and laxness within the construction of the ligaments and sinews. This alters in the burden distribution, farther increasing the unbalances emphasiss of the joint, speed uping the degenerative procedure ( mention – Y & A ; R? ) .Clinical DiagnosisAltman et Al. ( 1986 ) developed sets of standards for the categorization of idiopathic OA of the articulatio genus.Table 2.2.8 Classification Criteria for Diagnosis of Idiopathic Osteoarthritis ( OA ) of the Knee *Clinical and research labClinical and radiolograohicClinical **Knee Pain + at least 5 of 9: Age & gt ; 50 old ages Stiffness & lt ; 30 proceedingss Crepitus Bony tenderness Bony Enlargement No tangible heat ESR & lt ; 40 mm/hr RF & lt ; 1:40 SF OA Knee Pain + at least 1 of 3: Age & gt ; 50 old ages Stiffness & lt ; 30 proceedingss Crepitus + Osteophytes Knee Pain + at least 3 of 6: Age & gt ; 50 old ages Stiffness & lt ; 30 proceedingss Crepitus Bony tenderness Bony Enlargement No tangible heat 92 % Sensitivity 75 % Specific 91 % Sensitivity 86 % Specific 95 % Sensitivity 69 % Specific * ESR = erythrocyte sedementation rate ( Westergreen ) ; RF = arthritic factor ; SF OA = synovial fluid marks of OA ( clear, syrupy, or white blood cell count & lt ; 2000/mm3 ) . ** Alternative would be 4 of 6, which is 84 % sensitive and 89 % particular. ( mention )Differentiation from other Arthritic DiseasesArthritic arthritis: associated with more marks of redness affecting the MCP, carpus, wrist bones and other peripheral articulations, every bit good as the cervical spinal column. Generalised OA involves the DIP, PIP and first CMC articulations in the manus and, cervical and lumbar spinal column parts. RA distinguished from erosive OA through positive research lab trial, such as arthritic factor, ESR, and synovial fluid analysis ( Boon et al, ) . Joints actively involved in arthritic arthritis seldom show osteophytes, therefore their presence is a utile index of OA if the patient presents with a assorted clinical image. If osteophytes precede arthritic engagement, it indicated that rheumatoid arthritis has evolved from an erosive OA. Conversely, they will merely develop in secondary devolution following RA burn out ( Yochum & A ; Rowe, ) . Pseudogout: differentiated from OA by presence of CPPD crystals in synovial fluid, every bit good the in engagement of articulations that are non typically associated with primary OA, such as the cubitus and shoulder ( McCarthy 1998 ) .Table 2.2.9 Categorization for Subsets of Idiopathic OsteoarthritisLocalised:Handss: Heberden ‘s and Bouchard ‘s nodes ( nodal ) Erosive interphalangeal arthritis ( non-nodal ) Scaphometacarpal Scophotrapezal Foot: Halux valgus Hallux rigidus Contracted toes ( hammer/cock-up toes ) Talonavicular Knee: Medial compartment Lateral compartment Patellofemoral compartment Hip: Eccentric ( superior ) Concentric ( axial, median ) Diffuse ( coxae senilis ) Spine ( peculiarly cervical and lumbar ) : Apophyseal Intervertebral ( phonograph record ) Spondylosis ( osteophytes ) Ligamentous hyperostosis [ DISH* or Forestier ‘s disease ] ) Other individual sites: Shoulder Temporomandibular Sacroiliac Ankle Wrist AcromioclavicularGeneralised ( includes 3 or more sites listed above ) :Small ( peripheral ) and spinal column Large ( cardinal ) and spinal column Mixed ( peripheral and cardinal ) and spinal column * DISH = Diffuse Idiopathic Skeletal Hyperostosis

Supporting children and young people’s positive behaviour

Supporting Children and Young People's positive behaviour. 1. 2. Describe with examples the importance of all staff consistently and fairly applying boundaries and rules for children and young people's behaviour in accordance with the policies and procedures of the setting. Boundaries: These are the limits within which behaviour is acceptable or what may, and may not be done. Boundaries are there to guide children and young people's behaviour in the setting and it is very important for all staffs to consistently apply these boundaries fairly.Behaviour is learnt from what we see others do or say, so, it s very important for the staff to watch children closely and make sure that they apply the boundaries at all times. The importance of staffs applying the rules and boundaries are: It helps children and people to know what is right from wrong. For example, when a child knows what is right from wrong, or what is acceptable and what is not, then they will be able to do the right thing mos t of the time.If they know jumping is not allowed in the setting then they are going to behave accordingly. If all staff applies the boundaries and rules of their settings, then children will not feel hey are being misled. For example, one staff says they can bring snacks to school and another staff says they are not allowed to bring snacks. If this happens, a child will get confused and feel misled by one of the staff. It enables all the staff to be consistent in their approach in dealing with behaviour issues.For example, if there is no consistency in staff applying the boundaries and rules then there will be chaos in the setting, and this will not help positive behaviour in children. But if there is consistency then every child in the setting will know that no matter whom they go to n the setting, they will always get one answer. The importance of all staff being fair, and consistent are: It helps children to develop a sense of responsibility for their own actions and encourages them to think about the consequences of their behaviour.For example, the rule says no running in the corridor and staff keep reminding children about it all the time then, when a child runs in the corridor the others will tell him or her no running, and he or she will know that if they run, they will fall and when they fall, they will hurt themselves. So, they know what will happen when they disobey. It ensures that the school rules are enforced and children behave in a responsible manner.For instance, when staffs are consistent in applying the rules then there will be order in the settings and the promotion of good behaviour. Children will also know what the rules and boundaries are and therefore behave accordingly. It ensures that all children are treated fairly by staff applying the equal opportunity procedures. For example, when two children behave inappropriately, they both must receive the same sanction, one should not be favoured over the other. When two hildren fght, you hav e to listen to both sides and be fair in your Judgement.Some children behave inappropriately all the time but they must not be victimized in situations but rather listened to and treated tairly as other children It helps children with unwanted behaviour to improve and behave positively. For instance, if a child likes to pinch other children and all the staffs apply the rules consistently, that child is bound to change from that unwanted behaviour to positive behaviour. How to set fair rules and boundaries: Setting realistic rules for the setting; For example, ensuring the set rules are ppropriate for age and stage of development.For instance, setting a rule for one to two years that says, â€Å"No crying for toys or You must share,† that is not realistic based on their age and level of understanding. By involving the children in setting the rules and boundaries. If the children are involved in the rule setting then they will apply it because they will always remember and obey it. If everybody agrees on the set rules and boundaries. This means they understand what they are agreeing to so therefore, they can live by it and when others are behaving inappropriately, they will let them know it is unacceptable behaviour.

Mircroeconomics ( AT&T and T-mobile merger) Essay

Mircroeconomics ( AT&T and T-mobile merger) - Essay Example On the other hand, this implies a reduction in congestion and therefore a possibility of better signal quality and service for the customer base. AT&T consumer's who have been suffering worsened quality because of the heavy data-demands of the iPhones launched in 2007, may expect better quality service because the integrated network will have a substantially better carrying capacity. Service quality is thus likely to improve for iPhone users as well. Rivals, given such improvements are likely to push forward on the same dimensions and improvements in overall signal quality and service provision could be expected. The major groups concerned with the merger, apart from the company owners and employees are the customers, the rivals and the providers in the supply chain for these companies and their rivals as well. In the present paper, we examine what are the expected effects of this merger on related groups of consumers, competitors, and last but not the least, the suppliers. The rest of the essay is organized as follows: in the next section we look at the expected impact on consumers, particularly in terms of prices, signal quality and coverage. ... ven the small number of competitors present in the market and the observed strategic interdependence between them, we are looking at an oligopoly market. Collusion between rivals in such a market has substantial impacts on the characteristics of the market. On one hand such collusion leads to a reduction in the number of firms and thus the market deviates away from competition even more. Therefore, this increasing distance of the market from a perfectly competitive market implies a number of welfare reducing aspects. First and foremost, a fewer number of firms implies an increased market power and thus greater control over prices. Prices are likely to increase and so that will lead to a fall in consumers' surplus. There are reductions in productive and distributive efficiency as well (Varian, 1992). However, there are certain benefits that accrue to enhancement of welfare as well. For instance, the excess capacity that causes productive inefficiency also implies resources that can be utilized for innovations. Particularly, as pointed out by Schumpeter (cited in Solow, 2007), there cannot be privately motivated innovations or R&D activities unless industries earn positive profits. Therefore, for overall economic growth and progress, some degree of market power is crucial. Additionally, the enhancement of capacities is likely to yield scale benefits and increased efficiency as well. This allows merged firms to reduce prices without reducing profitability. In the present context therefore, the proposed merger has twin effects on the customers. Before the merger, AT&T's network is highly congested and customer's complain regularly about poor signal quality. The merger is likely to solve these problems since T-mobile's network is not nearly as congested and the total number

Figuring it out Essay Example | Topics and Well Written Essays - 1500 words

Figuring it out - Essay Example The opportunity and availability of respected earning ways; can only minimize the problem to some extent. Social and racial biases have to be kept aside to recruit the people and provide them with an alternate way to earn otherwise poverty will lead to more abuse and destruction of humankind.† Low income Americans name drug abuse as no.1 cause of poverty for them† ( npr, poverty in America, 2001). Ethnography is a qualitative study, through which various cultural phenomena can be understood regarding lives of people of any specific cultural group. It also tells the social welfare qualities, ethnicity and composition of a community. This method is required while collecting empirical data on specific societies and groups. Participants in particular society play vital role in this method, as data is collected through personal experiences and observation of these participants through interviews and questioners. Dr. Lee D. Hoffer in his book, Junkie Business: the evolution and operation of drug dealing network; described the process of development and working of an illegal drug dealing business. It sheds light on how a street based partnership became a running organized business with clear and planned division of labor. The change in dealer’s life is also evident throughout ( Hoffer,2006). According to Micheal Agar, the collection of data directly extracted from the people of specific culture and through direct involvement, can only enable one to understand better the coherent system. Anthropologist research is always based upon two major strategies to collect the research data accurately, the way to interview the participants and to extract participant’s observation. They both go hand in hand as one cannot be considered accurate without the other.(Hoffer, 2006) During the late ninetieth century, anthropologist only relied upon interviews to gather cultural data. This procedure was suitable for them as the change in cultural norms and custo ms; only began at that time. But to understand it better; they needed an inside vision of it. They lived with the participants to observe and understand the various distinctions. They realized soon people often misinterpreted and provided the information by predicting the expectations of the interviewer. This was a psychological factor, where at times they wanted to please the interviewer for material gains and sometimes to hide the truth ( Bailey, People, p.99). Drug business in various parts of America verifies the acceptance of illicit usage of drugs commonly and it also describes the vast expansion of network; with its organizational skills. The people hired for the sole purpose of drug selling; don’t come into it by choice but they are left with no option to earn from other means. The poverty and disappointment from unemployment leads them to drug selling and risking their lives with it. Sometimes they are unable to explain to their prospective employers the reason of un employment period as they became what economist call â€Å"discouraged workers†. (Robbins.p.174). Hence they come into contact with drug dealing to support and pay for their addictions. Therefore they become more actively involved in the business due to their need of the drug. However, the financer or investor does not seem to be bounded in such obligations. It’s merely a way to earn more than normal. Though risk of life is also involved

Shakespeare othello Research Paper Example | Topics and Well Written Essays - 1250 words

Shakespeare othello - Research Paper Example Along with it, the play also encapsulates perspective which can be judged from myriad social cone. The feminist and the racist approach to the play amid them is the most prominent. Thesis Statement The play â€Å"Othello† by Shakespeare captivates myriad themes like, jealousy, love, revenge and betrayal. All these themes are incorporated in the play which helps it to move forward and reveal the subtle bent of human psychology, which the playwright wishes to project through various characters and their interaction with the other characters in the play. This essay intends to explore the manifestation of these themes through the symbols, characters and motifs of the play throughout its plot. Myriad Themes Captivated within the Multi-layered Plot of the Play Despite being a tragedy, the importance and influence of the play â€Å"Othello† in the history of the English theatre cannot be undermined at all. The theme of love in the play is manifested through the love of Othello for Desdemona whom he treats as the extension of his own self. Desdemona is treated by Othello as an object of romantic passion with a feeling of exaltation. The destruction of Desdemona is actually treated as self-destruction for Othello. And the murder of Desdemona is viewed as a prelude to his self-killing. Iago, in such situation, can be viewed as an object of temptation that is persuading Othello relentlessly to view and regard himself from a perspective of Venice. Gradual provocation compelled him to accept the fact that he is an alien to the Venetian society and the lady of his love, who is an embodiment of that Venetian culture, also treats him alien. Othello desired for an ideal beauty and ideal love which he found in Desdemona. Desdemona, on the other hand, is incarnation of pure spiritual love and embodiment of ideal beauty. She is not the icon of love but the reason for love in others. It is under the influence of Iago with his tainted mind, Othello started viewing his beloved as a threat and her sexuality started becoming unbearable for him. Othello under the spell of his frailty mind gradually moves away from the platform on which the sensual and spiritual love were harmonised. Slowly Desdemona’s erotic beauty became an eye-sore for him and her devotion and love seemed â€Å"proof† of infidelity. The failure of Othello to harmonize the two aims of love leads him to encounter a fear and loathe of secularity which puts him into an aura encapsulated by physical frailty and extreme dependence on Desdemona. The horror and pity displayed by Othello transcends every spectacle of love and takes him to a paradigm far beyond the complete and noble concept of love undermined by a filthy and self-hatred state of mind. Even the failure of Othello as a romantic lover does not end with the bodily collapse of Desdemona. It is only the destruction of the symbol of life by the lover. And even after the murder of his beloved, the experience of love c ontinues. This is the reason as even after Desdemona perishes, Othello is posited in a â€Å"full possession of this heavenly sight† reflected from the sight of his dead beloved. Theme of Jealousy â€Å"Othello† is a play that explores sexual jealousy at myriad levels of its plot. The seat of jealousy evolves in the play from the outset of the play; the audiences are encountered with Iago. Iago

Compensation Practice Assignment Example | Topics and Well Written Essays - 1500 words

Compensation Practice - Assignment Example Their award winning online banking has served 30 million users. Through their big size, capability and commitment the bank is able to serve the community with superior economic value and services (Our Vision, 2013). Compensation refers to all forms of financial return in terms of tangible services and benefits that the employee receives as a part of employment relationship. It is an integral part of the human resource management that helps in employee motivation and improvement in the organizational effectiveness by paying salary or wage. Salary refers to the payment of the managers or professionals, whose payments are calculated on monthly or annual basis. In contrast, wage is the payment that is received by the workers in hourly or daily basis or for overtime (Bhattacharya & Sengupta, 2009, p. 2).This study deals in understanding the compensation policy of Bank of America Compensation Strategy Compensation strategy is designed depending upon the business strategy and goal. The busi ness goals and objectives are aligned with the Human Resource strategies. The compensation committee devises the compensation plan. The strategy depends upon both the internal and external factors as well as on the life cycle of an organization (Bhattacharya & Sengupta, 2009, p. 3). ... Practices followed by Bank of America The Bank of America follows â€Å"pay-for-performance compensation program† (BOA Compensation Principles, n.d.) which, provides rewards for long term and sustainable result that are aligned to the shareholder’s interest. The primary objective is to provide a tie up between payment and performance while at the same time providing a balancing reward with practical business decision and efficient risk management. All the compensation programs are designed to be consistent with the Compensation Principles, which ensures that the compensation practice does not encourage excessive risk, focuses the employees in managing the company towards long term goals and sustainable values for the shareholders and provides an appropriate realization of the rewards overtime (BOA Compensation Principles, n.d., p. 1). The benefits that the generally provide to their employees include health and dental benefits from the first day of employment, â€Å"Li fe Insurance, Accidental Death, Dismemberment coverage and Disability benefits† (Bank of America, Careers, 2013), retirement benefits, leave benefits like paternity leave, fitness centers, employee cafes and Associate discount program. They also provide a three week vacation when the position starts from entry level. Analysis of the compensation principle The pay of the executive is linked to the performance of the company, which in turn is supposed to increase the stakeholder’s wealth. Compensation also influences the employee wok behavior and organizational performance. This is the measure of paying the employee, which affects the quality of work, attitude towards customers and willingness to be flexible, learning new skills or suggesting

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Business related topic - Essay Example The laborers provide highly  crucial  service to the company and contribute to a significant  amount  the success of the company. They  ensure  the  match  in availability and quality with  consumer  expectations safeguarding the reputation of the company. As such, it is  right  that they  have  comfortable  conditions such as health coverage and decent pay  consequent  with  reasonable  working hours. This  way  they also are able to  give  their best raising  output  levels. Legally, there are safety regulations and accepted conditions that such laborers can  get. Adhering to such might save the  company  from legal problems and avoid its name tarnished. It would also improve operational efficiency, thus increasing  output, reducing labor costs, and increasing profitability. Though the company executives  ascertain  that the company is taking care of its employees (Duhigg  and  Barboza  7), there are still complaints on the same. In order to ensure that both the company and laborers are  comfortable, representatives from both sides need to meet and discuss their issues. They can agree on  crucial  issues and  do  away with unnecessary expenditures. Such agreements and their implementation need to be left open for  scrutiny  by the public and government institutions thus ensuring they adhere to regulations. This would also help  lay  the truth in the  open  and  hold  either side  true  to their

Movie Project (about Hang Over 3 movie) Essay Example | Topics and Well Written Essays - 1250 words

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WANs in Organisations Essay Example for Free

WANs in Organisations Essay 1. WHY ARE WANS USED? Wide Area Networks, or WANs as theyre commonly known, are networks with the ability to span quite a distance; usually 5 kilometres or more. The main reason for any network usually to allow the sharing of resources and WANs are no exception to this; whether it is sharing resources with an employee of your business or a customers business, a WAN will allow data exchanges to be made. They also offer connectivity between both regional and global sites but differ from the Internet. This is looked at later in this information sheet. WANs allow for centralisation, particularly in administration which is important to allow a good level of control and security. 2. NETWORK DIFFERENCES WIDE AREA NETWORKS Wide Area Networks are networks that span a wide area. This is considered to be anything over around 5km meaning that a several site company will be using a WAN. METROPOLITAN AREA NETWORKS This is a network that covers between 2km and 5km and is often found in metropolitan cities. These networks are usually owned by a single company but are provided for use by everybody. Occasionally a network such as this will be implemented by a public company such as the local council. Generally speaking, a MAN is any type of network that connects computers together in an area of around 2km 5km. CAMPUS NETWORKS A Campus network is a network of less than 2km that is operated by a single entity. The buildings connected together may all be owned by the same company, or several companies in this small area. This type of network is frequently found at university campuses and hospitals. Campus networks usually connect the entire site together to allow the sharing of information. LOCAL AREA NETWORK A LAN is a network that covers a single building. This could include a home network or an office network. It has a range of around 300m. PERSONAL AREA NETWORK This is any network that is in your immediate area; usually a network with a maximum distance of around 15m. It is important to note that this is usually a very simple network that it usually only has a temporary use. Wireless PANs are created by systems such as Bluetooth whilst USB and Firewire are both considered wired PANs when used to directly connect devices to each other. Distance Location Uses WAN 5km + Several Locations Connections private computers together over a large area. MAN 2km 5km Several Buildings Part of a City Connections between several buildings possibly covering the same area. This could cover an entire city or just a smaller area. Campus 2km Several Buildings University Campus Style Most used in an area such as a campus. This could be either an actually college/university campus or a group of buildings that require access to each other. LAN 300m Home A Building This is quite a small area and so is most often found in small business and home type networks. PAN 15m Between Computer and Phone/PDF/etc. Sending data such as photos or backups between computer and portable devices such as phones. Table showing the distances, location and uses of the five networks. 3. WAN AND THE INTERNET The Internet and WANs are two very different things but the majority of WANs will require the Internet, just as the Internet relies of WANs. The Internet is a special network that consists of many interconnected networks to provide access to world wide resources and nobody owns it and so nobody can govern its uses unless other laws are broken. A WAN will have a company controlling it and is therefore much more controlled in who can access and how. A WAN also connects much fewer computers and has a smaller coverage area. 4. DEVELOPMENTAL IMPACT ON WANS There are many things that could impact the development and uses of WAN. The major five are; maintenance, costs, expansion, technology, bandwidth and planning. MAINTENANCE Maintenance is important for any part of a system. Good maintenance will keep the WAN usable whereas no maintenance will lead to an unusable system. COSTS Costs are an extremely important part of network development. Lower costs means that more things can be changed at once, but costs also impact quality. TECHNOLOGY WANs can only develop at the speed that the technology is developed. At each network based technological breakthrough; the support for WANs is increased and improved. If technology does not keep up to speed with the needs of WAN users then the network will not work as effectively as it should. BANDWIDTH Bandwidth is very important for the network; without it nothing can be sent. If the amount of bandwidth needed by the network exceeds the amount of bandwidth that is available then problems concerning speed and errors are likely to arise. As bandwidth is improved (and the technologies needed to deliver said bandwidth), so are the speeds offered to business for their networks

Impacts of Mergers Acquisitions on Shareholder Wealth

Impacts of Mergers Acquisitions on Shareholder Wealth This dissertation attempts to investigate, the impact of Mergers Acquisition (MA) on shareholder wealth in the European banking industry from 2003-2007 and explains in depth detail of the literature reviewed by the author to provide the basis of the successful achievement of the project. MA has been a popular research topic in finance with broad literature exists on MA. For this review to be achievable, a broad search for information was undertaken by means of the internet and library. The research question will examine the wealth effects (abnormal returns) of MA involving European banks using `event study` methodology over the period of 2003-2007 in both the announcement period and long run post acquisition period. In other words, can MA improves or destroy shareholder wealth of the targets, bidders and combined firms. 1.2 Introduction The decade of 1990 saw the biggest increase in European MA activity. Merger Acquisitions (MA) have been a significant phenomenon in the Europe. and the world economy which symbolizes one of the most important strategic decisions made by managers and shareholders of the engaged firm. Sudarsanam (2003,para1,p.1) argues shareholders and managers may be the most important stakeholders in MA but other groups such as workers, competitors, lenders, customers all have a collective interest in this activity. MA may be undertaken in order to replace an inefficient management, but sometimes two businesses may be more valuable together than apart. Motivation behind the mergers is to maximise the shareholders wealth. However, according to Jensen and Ruback (1983) and Sirower and O`byrne (1998), in almost two third of cases, mergers produce wealth gains for target shareholders and more or less zero gains to acquirers. Various studies have found that, usually the announcement of bank mergers neither create nor destroy shareholders value Pilloff and Santomero (1998). Also, some studies indicates that the announcement of certain types of bank mergers do create value, if that merger reduce costs. Berger, Demsetz, Strahan (1999) identified five fundamental dynamic factors that motivate corporate takeovers i.e. an increase of globalization, technological progress, financial deregulation, changes in customer demand and the integration of financial markets. Arnold (2005, para2, p.1041), defined mergers as the combining of two business entities under common ownership whereas Bruner (2005) states it as consolidation of two firms that creates a new entity in the eyes of the law. According to Investorwords.com acquisition is a acquiring control of a corporation, called a target, by stock purchase or exchange, either `hostile` or `friendly` which also be called takeover. E.g. in October 2007, Royal bank of Scotland (RBS) merged with Dutch bank ABN Amro to clinch Europes biggest ever banking takeover with 86% of ABN Amros shareholders accepting a 71bn euro (Ft.com). Bruner (2005) argues takeover activities are strategic transactions that could turn out to be an excellent investment of capital and resources. 1.3Merger waves Nowadays, MA is well known fact that comes in waves according to evidence from Bruner (2005), Gorton, Kahl Rosen (2005), Martynova Renneboog (2006). Five individual merger waves were observed in the UK economy in the last century i.e. 1900`s, the 1960`s, the 1970`s, the 1980`s and the 1990`s. (Kastrinaki, Stoneman 2007) Brankman, Garretsen, Van Marrewijk (2008) argues that, in terms of economic importance, the dominant merger wave unpredictable is the positive global outcome, suggesting that MA waves are an economy wide global phenomenon. The wave of bank mergers has been established to explain the diverse theories e.g. the `efficiency hypothesis` expect that mergers improve efficiency and help poor banks to survive as competition becomes increasingly rigorous in the banking industry. Gugler, Mueller, Yurtoglu (2004) finds that merger waves can be implicit if one identify that MA do not boost efficiency and doesnt increase shareholders` wealth but instead sited that MA waves are best come across as the answer of overvalued shares and managerial opinion. 1.4Why do MA occur? In various European countries, mergers have allowed banks to increase efficiency by assisting the coordination of the closing of branches. Banks shareholders and managers need to recognize the potential sources of economic gain emerged from MA. Banks can reduce costs and increase value in different ways e.g. diversification. I.e. if mergers generate cost synergies such as economies of scale, banks can reduce expenses. According to evidence from Berkovitch Narayanan (1993), Sudarsanam, Holl Salami (1996), Hannan Pilloff (2006), Martynova Renneboog (2006), the motives for MA have been categorised into the three main groups i.e. economic motive or synergy, managerial or agency problems and hubris. The actual distribution of merger gains between target and bidder shareholders will depend on their individual negotiating strengths. Therefore, following table shows the impact of mergers on shareholders wealth: Merger Motive Total Gains Target Gains Bidder Gains Synergy + + + Agency problems + Hubris 0 + 1.4.1 Synergy Motive The first key group that accounts for MA is an economic or synergy motive which means that two companies can achieve together which they cant achieve single-handedly. Siems (1996) argued that synergy theory projected that the acquiring bank can efficiently create synergies via economies of scale and scope by reducing costs and eliminating redundancies and duplication. Economies of scale occurs when the average unit cost of production declines as volume increases e.g. banking mergers in the UK of Bank of Scotland and Halifax of 30bn merger in May 2001, to create HBOS fifth major force in UK banking sector. The idea was that the Bank of Scotland was operating in north of the country and Halifax was in south by merging these two banks, were trying to reduce cost of processing banking transactions. Economies of scope occurs when the cost of producing several products in a multi product firm is lower than the cost of producing the same products by individual firms e.g. Banc assurance model, British banking and issuance giant Lloyds TSB acquired Scottish Widows in June 1999 for 7bn. Sudarsanam et al (1996) identified the sources of value creation into three main types i.e. operational synergy, managerial synergy and financial synergy. Operational synergy occurs during the recognition of economies of scale and scope, vertical integration, the elimination of duplicate activities, the transfer of knowledge or skills by the bidders management team and a reduction in agency costs by bringing organization precise assets underneath common ownership (Ravenscraft Scherer 1987, 1989 cited in Martynova Renneboog 2006). Sources of value in vertical mergers includes reducing transaction costs in which combining different stages of the production chain can reduce costs of communication and bargaining i.e. one companys output is other companys input and by putting together will make the business efficient. E.g. Microsoft bid for Yahoo in January 2008, worth $42bn that will create more powerful browser or have a better chance of tackling the internet search leader. Having said that, current trends towards outsourcing suggest that, the benefits from vertical mergers are limited. According to Martynova Renneboog (2006), establishments of operating synergies reduce production distribution costs and yielding an incremental cash flow accruing to the companys post-merger shareholders. Sudarsanam et al (1996) argues managerial synergy could occur if the bidder has a competent managerial team and takes over a target with fewer competent managers. Such takeover is disciplinary and likely to improve the wealth gain for both bidder and target shareholders. Having said that, there is a considerable risk of agency problems where the managers do not operate in the interest of shareholders. Martynova Renneboog (2006) argues that diversifying takeovers are likely to gain from financial synergies in which financial synergies may incorporate improved cash flow stability, cheaper access to capital, an internal capital market as well as contracting efficiencies created by a reduction in managers employment risk. Conglomerate mergers allow risk diversification by spreading the income stream of the holding company over a wide variety of products and markets. Sudarsanam et al (1996) finds that financial synergy materialize from three likely sources i.e. the tax advantage of unused debt, the growth opportunities and financial resources of the emerging companies and the coinsurance of debt of the two companies which result in lower costs of capital. 1.4.2 Agency factor The second main motive for MA is managerial or agency factor. Shareholders are Principals i.e. owners of companys assets and managers are employed as shareholders Agents to manage these assets on their behalf. Managers should make decisions that are consistent with the objective of maximize the shareholder wealth, but managers do not share this objective necessarily. Managers will have their own personal objectives which will be mainly concerned with maximizing their own welfare (Sudarsanam et al 1996). Therefore, managerial decisions in acquisitions may result in agent costs that reduce the total value of the joint firm as they do not maximise but weaken shareholders return. Berger, Demsetz, Strahan (1999) argues that one managerial intention may be empire-building. Executive compensation leads to increase with companys size, so managers may wish to accomplish personal financial gains by engaging in MA, although at least in part the higher observed compensation of the managers of larger institutions rewards greater skill and effort. To protect their firm-specific human capital, some managers may also try to reduce insolvency risk below the level i.e. in shareholders interest possibly by diversifying risk through MA movement. Arnold (2005) observes that the managers may enjoy the thrill of the merger process itself and as a result push for such deals to take place. 1.4.3 Hubris The third and final main motive for MA is Hubris which was specified by Richard Roll in 1986. Arnold (2005, para2, p.1055), define hubris as over weaning self confidence or, less kindly, arrogance. The hubris hypothesis states that the valuation of target by the bidder management is over optimistic and per se the bidding firms management overpays for the target. This perhaps for a number of bases such as decisions makers believing themselves, that the value exists when it does not or that their valuation is correct and that the market is not shimmering the full economic value of the combined firm. These managers may perhaps be overconfident or have misplaced faith in their ability to develop the profit performance of the target firm. Berkovitch Narayanan (1993) argues that the hubris maintains that decision makers in the bidding firms simply pay too much for their targets as a result of mistakes in overestimating the value of the targets. 1.5 Factors influencing shareholder returns Shareholders returns are not just affected by MA announcements, but they are also influenced by bid characteristics e.g. method of payment, cross border MA, friendly vs. hostile bids etc. 1.5.1 Method of payment The method of payment is one of the key variables that must be agreed between the buyer and seller to determine the firms` abnormal returns and overall outcome of the bid. According to Huang and Walkling (1989), The form of payment will influence bidding strategy if it affects the anticipated NPVs of an acquisition. Huang and Walkling found that when method of payment and degree of conflict were taken into account statistically, abnormal returns were no higher in tender offers than in mergers. Payment methods can affect NPVs through interrelations with either acquisition cost or the probability of success or both whereas Dube, Glascock Romero (2007) argues that the different stages of benefit growing to the target and acquiring firms shareholders is attributed to the alternative methods of payments. Arnold (2005, para1, p.1059) states that cash payment has been the most popular and most valued method of payment which offers higher return than equity. For example, bidding firm is expected to carry out stock financed merger if the management of bidding firm has better-quality inside information that the existing assets of the firm are overvalued. However, if the bidder firm has confidential information about the target company and trusts it to be undervalued, then it probably offer cash financed merger. Therefore, merger financed with stocks are a negative signal because the use of stocks as a method of payment is more likely to occur when the stock is overvalued, while the use of cash is taken as the firm being overvalued. Alternatively, if target shareholders consider that their bank is overvalued, they will prefer to receive cash. This theory is supported by empirical literature and it demonstrates that at the time of the bid announcement acquirers who propose cash, tend to practice higher abnormal returns than those who offer stock financed merger. The advantage of cash is that the acquirer shareholders hold the same level of control over their company because their proportion of ownership has not been diluted by giving target shareholders stock options in the merged company. Therefore, the returns to the shareholders of a bidding firm will be higher in cash financed merger than the stock. Brealey, Myers Marcus (2004, para1, p.599) states if cash is offered, the cost of the merger is not affected by the size of the merger gains. And if stock is offered, the cost depends on the gains because the gains show up in the post merger share price, and these shares are used to pay for the acquired firm. 1.5.2 Cross border MA The combination of worldwide financial markets has been going together with, increases in the number and tiny proportion of firms that operate in the global market and the globalization process has been to a rational extent encouraged by cross border MA. According to Brankman, Garretsen, Van Marrewijk (2005, 2008) cross border MA are the main medium for foreign direct investment. MA provides fundamental but also limited understanding of this form of takeover, as cross-border MA are most likely related to economy-wide shocks such as economic integration, changes in the legal and regulatory environment or likely asymmetric business cycles. Based on past empirical evidence, though the majority of the domestic MA create significant wealth gains for the targets and negative or zero returns for bidders, cross border MA could have different impact on related firms. Kang (1993) stated that cross border MA are expected to create more wealth than domestic ones because of existence of market imperfections which leads to guide multinational firms (MNC) having a competitive advantage over local firms. Foreign banks have to act in accordance with with both regulations at home and abroad; domestic credit establishments have cost advantages, since fulfilling two diverse sets of regulation enforce additional costs on foreign banks. Also, different regulations reduce the amount of related fixed costs. This decreases the possibility for banks to collect benefits from economies of scale and scope. Economies of scale propose that bank is able to reduce its costs by growing the volume of output of products and services it already produces. As a result of developing into new country, a bank increases its potential client base and benefits from economies of scale. According to economies of scope, banks that diversify activities could reduce costs by providing more services. 1.5.3 Friendly vs. hostile bids Analysis regarding the impact of hostile takeovers has been arguable, varying from the benefits of market discipline for maximizing efficient utilization of resources to the damage of market shortsightedness on the economy, on the society and on value built over years. Dube, Glascock Romero (2007) argues such debates can impact financial marketsand can be expected to expand as developing markets open up to foreign corporations and as economic power is redistributed amongst countries. Hostile takeovers occur, when the management of a firm resists the takeover attempt by bidders. Lambrecht and Myers (2007) state that in some cases a potentially hostile acquirer could be better off negotiating with the target management for a merger and that such a situation reduces the power of the target shareholder to extract value from the bidder. Hostile acquisitions also involve swifter and more drastic changes in target. In both friendly and hostile acquisitions, overpayment can arise due to age ncy reflection of managerial objective maximization by the acquirer management. Goergen and Renneboog (2003) analyzed the market reactions to the different types of takeovers i.e. friendly, hostile and bids with multiple bidders. They found that hostile bids created the largest abnormal returns for the target i.e. 13% on the announcement day. When a hostile bid is made, the share price of the target straight away reflects the expectation that opposition to the bid will guide to upward revisions of the offer price. Various empirical studies have found that the returns to bidders in hostile takeovers are negative; resulting in low possibility of success of a hostile bid. 1.6 Impact of MA on shareholders Almost all of the studies of MA in banking industry are based on US data. As we know, one of the main objectives of mergers is to maximise the shareholders value by the means of increase in dividends and increase in share prices, so the shareholders can enjoy the capital gains. The two most important methods which can be used to assess the impact of MA were explained by Firth in 1980. In the first method, accounting information is used to determine the firms` financial performance profitability. The second method believes in efficient market which can be used in share price movements to estimate the economic impact of the event. The second method, direct measures any increase or reduction in shareholders wealth but also experience from the reality that no market is really efficient which results to mislead conclusions due to movement in share price. In this project, author chose the second method i.e. an event study in which the focal point will be on three different sets e.g. the target, the bidder and the impact of MA on combined firm in the long run. Various empirical studies on MA have concentrated on establishing stock market reaction around the announcement of a deal and whether a merger creates value for the shareholders of target and bidding firm. Delong (2001) examined 56 banks between 1991 and 1995, for focusing mergers that create positive abnormal returns whereas diversifying mergers produce negative abnormal returns. DeLong (2001) has point out that upon announcement the market responds positively to mergers that focus both on the activities and geography, which is consistent with Siems (1996). Delong finds that the cumulative abnormal returns (CAR) of target firm has been increased to 14.8% after merger and the bidding firm loose a significant 2.2%, whereas the combined firm neither created nor destroyed the shareholders value. The result also shows that the long term performance is improved when mergers involve inefficient bidders, payment not just made by cash and earnings are not diversified. Cybo ottone and Murgia (2000) analysed 54 largest MA deals with CARs at +3,41% between 1988 and 1997 on the European banking sector in 14 European markets. They have found that at the time of announcement, there was a positive and an important increase in the market value of the banks engaged in these deals. They have found positive abnormal returns for both buyers and the sellers using the general market index in the short period of eleven days, but found negative market reaction to acquiring bank. In other words, European bank mergers generate value for the combined firms including the target and the bidders do not lose. Various studies have shown that in Europe and the USA, target shareholders earn positive abnormal returns from mergers. Cyboottone and Murgia (2000) stated that bidding firm shareholders earn positive abnormal returns in European studies whereas in USA studies bidding firm shareholders earn negative abnormal returns from the mergers. Shareholders of target European banks achieve more than the bidding bank shareholders, however, the difference is very tiny indeed. So in other words, we can say that Cyboottone and Murgia (2000) results are not consistent with the USA banking literature which shows that no value creation effects are usually found. Martynova and Renneboog (2006) examined the short term wealth effects of 2,419 European MA announcements between 1993 and 2001 in twenty eight European countries. They found that UK target created higher returns (9%) and UK bidders experienced lower wealth losses (0.5%) in comparison to the total European average result. They also identified the share price reaction of bidding firms; on a hostile merger i.e. it generated a negative abnormal return of -0.4%, on the other hand, a friendly acquisition created a positive abnormal return of 0.8%. Therefore, Martynova and Renneboog (2006) have concluded that MA do create value for the bidding and the target shareholders in which target shareholders enjoy majority of gains as they collect large premiums. Beitel (2001) look at 98 large MA of European banks between 1985 and 2000 using the event study in which he found out, the shareholders of the target firm enjoy positive cumulative abnormal returns (CAR), whereas the shareholders of the bidding firm doesnt earn any CARs. However, the combined analysis of bidding and target European bank merger do create the shareholders value significantly. They also notice a change in the results after 1998 that European bidding banks in large deals experienced negative CARs and especially cross border mergers of European banks appeared to have destroyed shareholders value. Table 1: Summary of bank mergers using event studies of previous Abnormal Returns to shareholders MA studies Sample period Sample size Event Window Target CARs (%) Bidder CARs (%) Antoniou, Arbour Zhao (2006) 1985-2004 396 -2 to +2 17.37 -3.32 Cybo-ottone Murgia (2000) 1988-1997 54 -10 to 0 16.1 Not significant DeLong (2001) 1988-1995 280 -10 to 1 16.61 -1.68 Sudarasanam, Holl Salami (1996) 1980-1990 429 -20to+40 days 29 -4 Becher (2000) 1980-1997 553 -30 to +5 22.64 -0.1 Siems (1996) 1995 19 -1 to +1 13 -2 Houston Ryngaert (1997) 1985-1991 184 -2 to +2 20.40 -2.40 Ismail and Davidson (2005) studied 102 merger announcements in European banking industry between 1987 and 1999. They found positive abnormal returns for targets and the return to bidders differs across the deal type, also the merger deals earn higher returns than acquisition deals. They reported that the high competition in the market and reduction in the profitability in the banking industry in Europe is extending a depressing picture of performance of the future. They also reported low positive abnormal returns to target shareholders compared to other findings in the banking industry in Europe. The reason behind is that the bidder not ready to pay higher premiums in a competitive environment in which level of profits are decreasing. Ismail and Davidson (2005) pointed out that if equity is used as a method of payment instead of cash, then merger deals earn lower returns because of the fact is that equity signal to the market that the equity is overvalued which is consistent with fin dings of Huang and Walkling (1987). 1.7 Conclusion A bank acquires another bank because of number of reasons e.g. diversification, market power, managers preference etc. This literature review looks at the motives of MA based on the past academic studies i.e. Berkovitch Narayanan (1993), Sudarsanam et al (1996), Hannan Pilloff (2006), Martynova Renneboog (2006). Having said that, it is still not clear whether synergy gains or personal quest of managers is behind motivating majority of MAs. Evidence suggests that the managers may use the free cash flow for mergers that may produce negative NPV investments, because managers pursue their own interests rather than those of shareholders, resulting in mergers to not create value for shareholders. Whereas hubris, which supports the efficient market hypothesis (EMH) suggests that any bid for the target at premium overpays and it is result of the hubris. Arnold (2005) state it is similar to `winners curse` where the highest bidder will bid typically higher than the expected value of the purpose. However, most of the evidence suggests that the target shareholders gain positive abnormal returns while the cumulative abnormal returns (CARs) to the bidders are significantly negative and the combined banking firms seems to improve the shareholders value. Various studies also supports the fact that target shareholders gain at the expense of bidder shareholders and bank mergers do not create value for the combined firm in stock market reaction to bank mergers. Also, evidence shows that shareholders returns are not only affected by the MA announcements but they are also influenced by bid characteristics. 2.0 Methodology 2.1 Introduction Choosing appropriate research methods are clearly vital. According to Veal (1997) it is important for the researcher to be aware of the range of methods available and not to make claims that cannot be justified on the basis of the methods used. This part of this dissertation gives an outline how information was collected, the sample design statistics and which methodology is used by concentrating on European banking sector mergers between 2003 and 2007. Firstly, we have to decide the philosophy underlying this research, which involves choosing a paradigm. Collis and Hussey, 2003, p. 352 define paradi