South Africa stock market data - Free Essay Example

Sample details Pages: 14 Words: 4292 Downloads: 5 Date added: 2017/06/26 Category Economics Essay Type Narrative essay Topics: Africa Essay Did you like this example? Background Capital Asset Pricing Model (CAPM) was introduced by William Sharpe (1964), Jan Mossin (1966) and John Lintner (1969) separately. This model has been regarded as a great contribution to financial economics. According to Fama and French (1992), the model has long shaped the way academics and practitioners think about average return and risk. Don’t waste time! Our writers will create an original "South Africa stock market data" essay for you Create order In practice, it is the most used investment model by fund managers and analysts to determine risk and return of assets. Because of CAPMs importance in the world of finance, it has been largely tested and its validity has become debatable. Earlier testing of CAPM by Lintner(1965), Black(1972) and Fama and Macbeth(1973) found a strong positive relationship between return and risk (measured by beta). But not all empirical studies have achieved the same results. For instance, Corhay et al (1987) found no relationship between beta and returns for US, UK, France and Belgium for the period of 1969-1983. Similarly, Fama and French (1992) found no relationship between US beta and returns over the period of 1963-1990 and only a weak one from 1941-1990(Fabozzi, 2002). Fama and French claimed that other factors other than beta explained the returns contrary to CAPM. Their research showed that size and book-to-market equity were a more appropriate measure of risk, since they signific antly explained cross-sectional changes in average returns. The importance of size and book-to-market equity has been extensively tested in Developed markets as well as emerging markets such as Hong Kong and Japanese. Moreover, further studies on the relationship of beta and returns have also been tested in US, UK, French, Hong Kong, Swiss, Australian, German, Argentina, Brazil, Chile and Mexican markets (Morelli 2007). But none of such research has been tested using Africas data. This research aims to apply a similar empirical test on South Africas market data to explore the relationship between average share returns and these variables; beta, size and book-to-market equity. Since, this will be the first comprehensive study of this kind on an African emerging market, it looks promising. The finding will give an insight into the behavior share returns in Africa emerging capital markets which could aid investment and financial decision-making. Moreover, since I have a keen interest in stock market investments, a discovery of the factors that truly affect returns in my part of the world, will not only place me at an advantage of managing portfolios constructed in such markets that could yield high return, but also keep me motivated to start and finish the research. Preliminary Literature Review The two most important attributes of every investment is return and risk (Rutterford and Davison 2007: 40). The goal of every investor, who is usually assumed to be risk-averse, is to maximize the return on investment while minimizing the likelihood that the expected return will be achieved, that is, risk. There is a lot of the existing literature on the effects of risk on stock investment returns and models have been development to explore this relationship. CAPM is one of such models and is widely used by investment analyst and fund managers as it serves as a useful benchmark (Haugen 1997:239,254); despite its several empirical contradictions. CAPM offered a theoretical framework that explained the relationship between risk and expected return (Rutterford and Davison 2007:222,250). CAPM also introduced beta as a measure of systematic risk. A central idea of CAPM is that only one risk, beta, affects long-term average return on an investment (Redhead 2003:160-161,167 ). Where expected return is directly proportionate to beta relative to the market portfolio (Burton 1998). CAPM stipulate that a risk-free rate of return and a risk premium, which is a function of beta is the only explanatory factor for cross-sectional variations in average returns and that it significantly measures risk. It also implied that a proportional relationship exists between beta and returns. Early empirical studies of Black (1972) and Fama and Macbeth (1973) using US market data supported this preposition. And more recently, Pettengill and Sundaram(1995) also came up with similar conclusion using US data, where they found significantly high relation between beta and average returns. But, other empirical tests have revealed otherwise. Some discovered no significant relationship between beta and returns while others discovered other explanatory factors that could explain returns and measure risk other than beta alone. Banz(1981) and Keim(1983) discovered th e firm size effect while Fama and French(1992) discovered book-to-market equity. These factors amongst others were found to significantly explain cross-sectional variations of average returns contrary to CAPMs preposition. Due its importance in the finance world, series of empirical studies have been carried out to test these explanatory factors (beta, size and book-to-market equity) on average stock return using different markets data. Such studies were primarily focused on US, but over the years the focus has shifted to other developed nations like UK as well as emerging markets. Corhay et al(1987), Levis and Liodakis(2001) and Fletcher (2002) studied the UK market; Hawawini et al(1983) studied French data and also studied Belgium data(Hawawini, Michel and Corhay 1985); Elsas et al (2003) studied Germany data; Hong Kong and Singapore(Yue-Cheong 1997), Korea and Taiwan(Yan-Leung, Kie-Ann and Yan- Ki 1993) and Istanbul(Akdeniz, Altay-Salih and Aydogan 2000) market dat a have also being tested for the effects of beta, size and book-to-market equity effects on average returns. More recent studies on beta, size and book-to-equity and returns were carried out by Ho et al(2006) on Hong Kong data; Morelli (2007) on UK data; and Wang and DI Lorio(2007) on Chinese data. The findings of these studies are varied; some found a significant relation of these variables with stock returns while others did not. From the above analysis, it is evident that such an analysis is lacking using data from an African market. I feel further studies need to be carried out also using Africa data in order to have a holistic view to aid in accepting/rejecting these factors as explanatory factors of stock returns. Research has proven that stock market returns in emerging markets has been characterised by high risk as well as high returns (Akdeniz, Altay-Salih and Aydogan 2000). These high returns have attracted a lot of capital inflow into such markets creating th e need to study the nature of stock returns in such markets more apparent. According to Organisation for Economic Co-operation and Development (2008), a common concern for investors about African countries is lack of consistent, reliable and timely information which this study will try to addredd by making information in respect to stock returns and risks available. Johannesburg Stock Exchange (JSE) of South Africa could be seen as an example of an emerging market in terms of market capitalization, trade volume and listed companies. A study done on JSE revealed it as a semi-efficient market (Okeahalam and Jefferis 1999) which is one of the forms of efficient market hypothesis. Fioramonti and Poletti (2008) described South Africa as not only an emerging market but also one of the leading nations of the global south. This stock market started operations in 1887(Okeahalam and Jefferis, 1999) A detailed analysis of its stock market will no doubt illuminate on other African emerging markets and also give an idea about JSE market microstructure in comparison to other international markets. Research Questions and Objectives Research Questions Do a relationship exist between beta, size and book-to-market equity be used to explain cross-sectional average stock returns in using South Africa data? How important is risk in stock market returns in South African? Are beta, size and book-to-market equity appropriate measures of risk in using South Africa obtained from JSE? If a relationship exists, to what extent do each variable explain average returns? and Which of the variables is a more appropriate measure of risk and explains average returns of South Africa market? Research Objectives The objective of this research is to To explore the relationship that exists between beta, size and book-tomarket equity and returns in JSE To analyse the behaviour of risk in respect to stock market returns using South Africa data To identify and analyse if beta, size and book-to-market equity are appropriate measures of risk in JSE and which of the variables best explains average returns in this market Research Plan The research plan proposed is based on the choice of topic which centres on testing a popular asset pricing model in an African emerging market. Since this research aims to test Fama and French model (1992, 1995) on the explanatory factors that effect average stock returns using another scenario (South Africa data), it lies more towards theory testing and thus, a deductive study (Bryman and Bell c2007) would be more suitable. The research philosophy to be adopted for this research will embrace both the principles of positivist and interpretivist approach. These approaches are widely related to social sciences, business and management research. A positivist approach observes social reality in order to make an inference or generalisation based on findings to establish or explain underlying relationships between variables. In such an approach the researcher can do little to alter the substance of data collected and so the process of data collection is external (Saunders, Lewis and Thornhill c2007: 103). According to Quinton and Smallbone (2006: 18), the positivist approach seeks to provide an explanation for an event in an organisation while the interpretivist approach tries to understand the event. The interpretivist approach involves interpreting the social world in which we live in to order and make adjustments where necessary (Bryman and Bell c2007: 107). This research will be associated mainly with the positivist approach since the variables under consideration such as stock returns, book value and market value which can be observed and quantified. Moreover, such an approach not only allows for the establishment of relationship between the variables based on the findings from their analysis, but is also objective. On the other hand, since these variables are economic factors which are influenced by man to an extent, it is also associated with the interpretivist approach. Moreover, the research aims to investigate the behaviour of stock return as to understand its relation with the other variables under study. There are a number of research designs or strategies that could be used for a research e.g. experimental design, cross-sectional design, longitudinal design, case study design and comparative design(Bryman and Bell c2007: 44). For this study, two research designs will be employed; longitudinal and case study designs. A longitudinal research design involves the study of a particular phenomenon over an extended period of time (Saunders, Lewis and Thornhill c2007). This research design describe this research which will involve a sample of period of 20 years ( from June 1987 to July 2007) that will be divided into sub-periods, in order to discover patterns that will aid in valid judgements. Usually, such a design has more external validity than experimental design since it relies on empirical data. But care has to be taken to avoid errors in the selection process of the companies listed on JSE whose stock return will be analysed, so that the sample chosen is a clear representation of the entire population (Smith 2003). A case study design on the other hand, is a research strategy that entails the detailed and intensive analysis of a single case where emphasises is upon the examination of a setting (Bryman and Bell c2007: 62). In such an instance, the researcher usually seeks to illuminate the unique future of a case (Jewell 2008: 74). In the case of this research, the analysis is on Johannesburg Stock Market in South Africa. According to Yin (1994: 38), such a research could be described as a single-case study which is appropriate for theory testing, a unique and revelatory case. One of the limitations of case study lies in proving that findings can be generalised to a wider universe and are not only unique to the case under study. As a result of this, Yin argues that a multi-case study is more preferable. Both longitudinal and case study design will be relevant for this research which could be considered a case study research with a longitudinal element of analysing archival or historical stock and company information to make inference. Major limitations of such a research are associated with the data collected for studies. Historical data of stock returns in some databases, which this research will rely on for data collection, may exclude some current companies, nonsurviving companies (merged, acquired or bankrupt), data may not be up-to-date and complete (Smith 2003). Thus, care has to be taken in order to capture reliable and comprehensive sources of data. The data collection method to be employed in this research will be mainly from secondary data sources. The advantage of using this type of data is that it is easier to analyse; less time consuming; and more economical and cost-efficient; high quality data; and provides an opportunity for longitudinal study; amongst others than using primary data (Bryman and Bell c2007: 331-334). Saunders et al (c2007:248-262) has classified the types of secondary data and their uses in research into three categories; Documentary, Survey-based and Multi-source secondary data. My secondary data collection will be based on these sources. Documentary sources are divided into written and un-written materials. Written materials will be gotten from investment and stock market textbooks, academic journals in found electronic database consisting mainly of Business Source Premier and ScienceDirect (assess through Coventry University Library) to build more on the theoretical framework and investigate other previous studies for the critical review of literature. Newspapers such as Reuters, Bloomberg and Financial Times and their web-sites will also be a source for the written material so that recent statistical information can be captured as well. These sources, especially the journals, are peer-reviewed for quality and suitability and hence reliabl e. Survey-based data sources to be employed would be African Economic Research Corporation; Organisation for economic co-operation and development; international financial corporation and world federation of exchanges websites which are renowned. Multiple sources include times-series and area-based sources. Times-series source as well as area-based source for this research to obtain historical share information on all JSE shares will be collected from ShareNet Limited (The Sekunjalo Investment Group South Africa), I-Net Bridge (a stock broking firm) and Johannesburg Stock Exchange (JSE). ISIN data as well as annual company reports will also be obtained from the databases managed by them of which I have gained access. These three sources will allow for comparison of data so important companies are not omitted and data errors are minimised. Despite the advantages of using secondary data collection methods, there are also inherent disadvantages as outlined by Bryman and Bell (c2007: 334-335). These data sources where not built with this type of research in mind, so I might not be total familiar with structure and contours of the data which may also contain some complexities. The quality of data from some of the sources also cannot be totally guaranteed. The sampling plan to be use will be non-probability sampling. This type of sampling may not be used to make statistical inference about the population but will make it possible to draw generalisations (Jewell 2008). It will also allow me to choose companies that will fit the norm of the research. The non-probability technique to be employed will be a purposive sampling since financial companies according to Fama and French (1992) have to be excluded since their book-to market equity ratios are interpreted differently from non-financial companies. A sample of 80 companies will be randomly selected from all the securities listed in JSE with available data covering the period under study. The companies will be selected from different industry groups so that it can be a fair representation of the entire population and not industry specific. This sample is restricted to companies on both i-net bridge and sharenet databases. The data collected will be mainly quantitative and will involve both bivariate and multivariate analysis (Jewell 2008: 89). A measure of central tendency, the median will be adopted to allocate the company stocks into big and small groups for the size effect. Pettengills (2002) cross-sectional regression analysis model of will be used to test the effects of beta, size and boo-to-market equity on average returns. Results will be represented mainly in tables and interpreted to make generalisations and conclusion. The research will be carried out in such a way as to have relevance and originality as to meet research criteria of validity, reliability, generalisability and transparency(Jewell 2008: 68-69). It will be valid as the research plan discussed so far has been carefully chosen as that the research questions are being addressed. Since this research is a test of model, the same approach and measurements embarked by Fama and French will be replicated to avoid errors. It will also be conducted in such a way that other researcher can replicate not only the study but also the results. But it should also be pointed out that since this research involves real time data and organisational structures that a prone to change, getting the exactly similar results may not be likely. But every step of the research will be properly documented so that the research is as transparent as possible. I hope the findings of this research can be applied to other emerging African countries. But it should be noted that since I cant control the variables investigated, it might be difficult to generalise in the end, unless these markets have the same microstructure. The limitations of this research as mentioned earlier will be centred mostly on data collection errors, and the results of the study may apply only to the period and market under study, making it difficult to generalise. Ethical Considerations The research will abide to regulations stated in the Faculty of Business, Environment and Society (BES) ethics handbook 2006-2007 of Coventry University which identifies its ethics procedure policies. I will complete the ethics checklist and compliance form at the end of this research which will be duly signed by my supervisor and I. Since my research involves mainly secondary data, it is exempt from any ethical issues inherent in primary data collection. But I will abide to the regulations of data protection act that may be applicable to some companies information that will be part of the sample collected for the study. References Akdeniz, L., Altay-Salih, A. and Aydogan, K. (2000) A Cross-Section of Expected Stock Returns on the Istanbul Stock Exchange. Russian East European Finance Trade 36, (5) 6 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=44466 64site=ehost-live Banz, R. W. (1981) The Relationship between Return and Market Value of Common Stocks. Journal of Financial Economics 9, (1) 3-18 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=12249 440site=ehost-live Black, F. (1972) Capital Market Equilibrium with Restricted Borrowing. Journal of Business 45, (3) 444-455 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=45863 40site=ehost-live Bryman, A. and Bell, E. (c2007) Business Research Methods. 2 edn. Oxford: Oxford University Press Burton, J. (1998) Revisiting the Capital Asset Pricing Model [online] available from lt;https://www.stanford.edu/~wfsharpe/art/djam/djam.htm [3/2/ 2008] Corhay, A., Hawawini, G. and Michel, P. (1987) Seasonality in the Risk-Return Relationship: Some International Evidence. Journal of Finance 42, (1) 49- 68 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=46523 69site=ehost-live Elsas, R., El-Shaer, M. and Theissen, E. (2003) Beta and Returns Revisited: Evidence from the German Stock Market. Journal of International Financial Markets, Institutions Money 13, (1) 1 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=86237 51site=ehost-live Fama, E. F. and French, K. F. (1995) Size and Book-to-Market Factors in Earnings and Returns. Journal of Finance 50, (1) 131-155 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=95050 41632site=ehost-live Fama, E. F. and French, K. R. (1992) The Cross-Section of Expected Stock Returns. Journal of Finance 47, (2) 427-465 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=46525 46site=ehost-live Fama, E. F. and Macbeth, J. D. (1973) Risk, Return, and Equilibrium: Empirical Tests. Journal of Political Economy 81, (3) 607 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=50539 12site=ehost-live Fioramonti, L. and Poletti, A. (2008) Facing the Giant: Southern Perspectives on the European Union. Third World Quarterly 29, (1) 167-180 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=27754 041site=ehost-live Fletcher, J. (2002) Examination of Conditional Asset Pricing in Uk Stock Returns. Financial Review 37, (3) 447-468 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=72341 67site=ehost-live Haugen, R. A. (1997) Modern Investment Theory. 4 edn. London: Prentice Hall International Hawawini, G. A., Michel, P. A. and Corhay, A. (1985) New Evidence on Beta Stationarity and Forecast for Belgian Common Stocks. Journal of Banking Finance 9, (4) 553-560 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=11488 597site=ehost-live Hawawini, G. A., Michel, P. A. and Viallet, C. J. (1983) An Assessment of the Risk and Return of French Common Stocks. Journal of Business Finance Accounting 10, (3) 333-350 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=45596 54site=ehost-live Ho, R. Y.-W., Strange, R. and Piesse, J. (2006) On the Conditional Pricing Effects of Beta, Size, and Book-to-Market Equity in the Hong Kong Market. Journal of International Financial Markets, Institutions and Money 16, (3) 199-214 available from lt;https://www.sciencedirect.com/science/article/B6VGT-4H0S1GF- 1/2/c9218d85455b1deb757467cccf2a15c1 Jewell, S. (2008) How to Write a Research Proposal and Tips for Tackling Your Dissertation. Unpublished: Coventry University Keim, D. B. (1983) Size-Related Anomalies and Stock Return Seasonality: Further Empirical Evidence. Journal of Financial Economics 12, (1) 13-32 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=12243 366site=ehost-live Levis, M. and Liodakis, M. (2001) Contrarian Strategies and Investor Expectations: The U.K. Evidence. Financial Analysts Journal 57, (5) 43 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=54675 19site=ehost-live Lintner, J. (1965) Security Prices, Risk, and Maximal Gains from Diversification. Journal of Finance 20, (4) 587-615 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=46566 97site=ehost-live Lintner, J. (1969) The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets: A Reply. Review of Economics Statistics 51, (2) 222-224 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=46431 49site=ehost-live Morelli, D. (2007) Beta, Size, Book-to-Market Equity and Returns: A Study Based on Uk Data. Journal of Multinational Financial Management 17, (3) 257-272 available from lt;https://www.sciencedirect.com/science/article/B6VGV-4MK5GM4- 2/2/b5633ef62e0216b6aebe652a50be265b Mossin, J. (1966) Equlibrium in a Capital Asset Market. Econometrica 34, (4) 768-783 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=68575 27site=ehost-live Okeahalam, C. C. and Jefferis, K. R. (1999) An Event Study of the Botswana, Zimbabwe and Johannesburg Stock Exchange. South African Journal of Business Management 30, (4) 131 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=30346 81site=ehost-live Organisation for Economic Co-Operation and Development (2008) African Economic Outlook [online] available from lt;https://www.oecd.org/about/0,3347,en_2649_15162846_1_1_1_1_1,00.ht ml [2/2/ 2008] Pettengill, G. M. and Sundaram, S. (1995) The Conditional Relation between Beta and Returns. Journal of Financial Quantitative Analysis 30, (1) 101-116 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=95050 25120site=ehost-live Quinton, S. and Smallbone, T. (2006) Postgraduate Research in Business a Critical Guide. London: Sage Publications Redhead, K. (2003) Introducing Investments a Personal Finance Approach. Harlow: Financial Times/Prentice Hall Rutterford, J. and Davison, M. (2007) An Introduction to Stock Exchange Investment. 3 edn. Basingstoke: Palgrave Macmillan Saunders, M., Lewis, P. and Thornhill, A. (c2007) Research Methods for Business Students. 4 edn. Harlow: Financial Times Prentice Hall Sharpe, W. F. (1964) Capital Asset Prices: A Theory of Market Equilibrium under Conditions of Risk. Journal of Finance 19, (3) 425-442 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=66374 96site=ehost-live Smith, M. (2003) Research Methods for Accounting [online]: Sage Publications Inc. Available from lt;https://site.ebrary.com/lib/coventry/Top?channelName=coventrycpage=1 docID=10080989f00=textfrm=smp.xhitsPerPage=10layout=docum entp00=business+research+methodssch=%A0%A0%A0%A0%A0Sear ch%A0%A0%A0%A0%A0sortBy=scoresortOrder=desc [10/2/2008] Wang, Y. and Di Iorio, A. (2007) The Cross Section of Expected Stock Returns in the Chinese a-Share Market. Global Finance Journal 17, (3) 335-349 available from lt;https://www.sciencedirect.com/science/article/B6W4F- 4MC71KF-1/2/a2d3ec118ac7d314bf17f5551fc1a923 Yan-Leung, C., Kie-Ann, W. and Yan-Ki, H. (1993) The Pricing of Risky Assets in Two Emerging Asian MarketsKorea and Taiwan. Applied Financial Economics 3, (4) 315-324 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=57456 61site=ehost-live Yin, R. K. (1994) Case Study Research Designs and Methods. 2 edn. Thousand Oaks, CA ; London: Sage Publications Yue-Cheong, C. (1997) Multivariate Testing of the Capital Asset Pricing Model in the Hong Kong Stock Market. Applied Financial Economics 7, (3) 311-316 available from lt;https://search.ebscohost.com/login.aspx?direct=truedb=buhAN=97091 21237site=ehost-live

Psychology - 997 Words

Psychology is the study of life stages in which humans experience and the behavioral issues of one’s self. his scientific process has been study by many pioneers throughout history who has shared their own belief and explanations for people behavioral issue and the way in which they act which is mundane to one’s society. One pioneer who has contributed his opinion to Psychology is Erikson, a German Psychologist who created eight psychosocial stages that humans encounter throughout their life, the stages are: Trust vs. Mistrust, Autonomy vs. Shame Doubt, Initiative vs. Guilt, Industry vs. Inferiority, Identity vs. Role Confusion, Intimacy vs. Isolation, Generativity vs. Stagnation, and Integrity vs. Despair . Erik Homberger Erikson was†¦show more content†¦This occurs during adolescence. During this period the identity concern reaches climax. According to Erikson this is the time when children seek their true selves. Erikson’s sixth stage, Intimacy vs. Isolation, occurs during young adulthood. The main concern of Eriksons seventh stage, Generativity vs. Stagnation, is to assist the younger generation in developing and leading useful lives. When the individual feels that he has done nothing to help the next generation then they experience stagnation. The final stage, Integrity vs. Despair, occurs during late adulthood. This is the time in which the individual looks back and evaluates their life. If the last stages have developed properly then they will experience honesty. If the previous stages have not developed in a positive way then they will feel hopelessness (Sharkey). Erikson’s theory is used a lot within teaching .When becoming a teacher they are taught on his theory to approach it upon kids. Schools of education teach future teachers about the stages children go through to help them understand how children act and think. Eriksons stages are especially helpful, as he outlines where he believes children should be around each age. Eriksons stages also give future teachers the ability to focus on certain aspects of development for children depending on their age group, as he has pointed out that they each have varying needs. Knowing his theory it makes other people know how to handle the aspect of a child fromShow MoreRelatedPsychology : Psychology And Psychology1627 Words   |  7 Pagescovers the many questions we may have about psychology. It starts with the history and how it has changed throughout the years. It covers some of the many subfields and jobs you can have as a psychologist. It also covers the four big ideas that are associate d with psychology. There are many more topics and sub-topics that will be covered within this paper on chapter 1. Section 1-1 Psychological Science is born: This section shows how the heart of psychology changes over time. In 1879, at a germanRead MorePsychology : Psychology And Psychology1519 Words   |  7 PagesPsychology has been defined by many as the study of mental disorder or behavioral problems but discoveries and developments, points to psychology as the study of human mind and its functionality which includes the way we think, act, perceive things and be able to make decisions; all these makes man a complex being. Psychology isn’t just a phenomenon; it is a scientific study. Psychology as a science answers the question â€Å"why†, proposes a theory and sets experiment to test the hypothesis. The researchRead MorePsychology : Psychology And Psychology889 Words   |  4 PagesOne: Psychology Defined Psychology is an exceptionally multifaceted field of study, regardless, it can be commonly defined as the study of mental processes and human behavior. The goals of psychology are to describe, explain, predict and control the behavior of others. Psychology incorporates an extensive range of different perspectives into its general principles as well as focuses on securing them with applied research, case studies, evaluations, etc. I first became interested in psychology whenRead MorePsychology : Psychology And Psychology1018 Words   |  5 Pagesof psychology is common to talk about the psychological schools, as these are defined as groups of psychologists who shared a theoretical view and focused psychological problems with a common orientation; these have evolved over time. Psychology was first established as a separate science of biology and philosophy, that s when the real debate over how to describe and explain the human mind and behavior began start, different psychological schools represent the major theories of psychology. TheRead MorePsychology : Psychology And Psychology892 Words   |  4 PagesWhen you first think of the word psychology, what is the first thing that comes to your mind? Well, some people might say they don’t know or some would say it’s something that has to do with the mind and/or human behavior. Psychology which comes from the Greek term â€Å"psyche† is the study of mental processes and behavior; especially those affecting behavior in a given context. There are several schools of thought in psychology. These schools include: structuralism (Wundt), functionalism (James), gestaltRead MorePsychology : Psychology And Psychology1267 Words   |  6 PagesPaper What is psychology? What impact does psychology have on the world? What does it mean to be a psychologist? These are three important questions that will be investigated throughout this paper. Psychology is the scientific study of the human mind and behavior. Psychology influences many behaviors in the world without anyone noticing. Watson is interested in behaviorism. This means he was interested in the behavior of people and how they act and react. Through his article, Psychology as the BehavioristRead MorePsychology : Psychology And Psychology850 Words   |  4 PagesPsychology to me is meant to help people understand the complexity of other human beings. We have established the existence of many disorders which are mainly beyond the control of people because of chemical imbalances in the brain. Although with these reasons, we still have attached negative and positive connotations to many disorders. We have created this concept of psychology in order to help us try to find some sense of order in our lives. This can allow us to try rank ourselves next to anotherRead MorePsychology : Psychology And Psychology1703 Words   |  7 PagesPsychology has a lot of jobs to choose from.Any job in psychology is going to be involved helping people. Trying to find out why people do the things they do and trying to predi ct the behavior of people, their emotions, and mental processes. Making sure your child or any person you care about is okay mentally, is important and is the job of people who work in a major in psychology. For this paper, the roles of a psychiatrist, a counselor, and a psychologist will be discussed. The audience will learnRead MorePsychology : Psychology And Psychology1300 Words   |  6 PagesIn Psychology There are six modern psychological perspectives. These perspectives are behavioral, psychodynamic, humanistic, cognitive, social, cultural, and biological. Each perspective has its own unique way of explaining human behavior. I think that really explains the complex mental processes and behavior, and each prospective study should not be limited to just one. The following is my explanation of the terms and comparisons between the psychodynamic and behavioral aspects relating to the OctoberRead MorePsychology : Psychology And Psychology Essay2200 Words   |  9 PagesHow is ps ychology defined today? How did psychology start out being defined originally? Humans have always been interested in understanding their own body, especially the brain itself. Some of the first people to explore psychology were Aristotle and Socrates, (even though some of the things they thought were wrong) of course at the time they did not know what exactly they were studying. https://www.boundless.com/psychology/textbooks/boundless-psychology-textbook/introduction-to-psychology-1/intr

Strategic Anaysis on ABC-Free-Samples for Students-Myassignmenthelp

Question: Discuss about the Strategic anaysis on ABC. Answer: Introduction Australian Broadcasting Corporation is an independent organization that that was funded by the Australian taxpayers. It was specifically detached from the politics, government, and commonwealth. The history of Australia is vividly broadcasted by this channel and the company has adopted the model of BBC news. The company has pronged their divisions and formulated in Television, radio, mobile and online services in the regional Australia. Overview of the case The main concern that has evolved in this scenario is the Waste management in Australia and the company has featured a program over this. The program named as the "War on Waste". Australia is one of the most waste full countries in the developed world (About.abc.net.au 2017). Every year the waste they generate is growing twice a rate by the whole population. As a nation, Australia used almost ten millions plastic bags and that provide the crisis situation in the ocean. In the Sixties when the recycling process had done all the Australian people have taken the facility. All the waste that needed to be recycled had stored and composting for the recycling process. For this reason, the waste degradation and the plastic bag reduction is the most important issue to maintain the environmental balance in the nation. 21st January 1989 has been proclaimed as the "Clean up Australia Day". But from then the process has not even changed a bit. They are not trying to reduce the waste they generate and for that reason, the waste controlling is the major issue for Australia (Thompson Wadley, 2017). Plastic bags and a staggering amount of waste is the concern factor the Australian. An average family has almost wasted 3.500$ food which is a drastic incident that has found in this section. Most of the firms have wasted their extra foods due to their policies. There are major supermarkets in Australia which has produced huge food waste every day and that also give a boost in the rate of waste management (Barratt, 2016). The unique project of ByOCoffeCup for stopping the waste of the coffee cup that creates trouble for the country is initiated by the company. A tram with 50 thousand coffee cups has gone through in between the state to convey the state of the country that if this amount of coffee cup has wasted in an everyday manner then the waste degradation process was not done in an ethical way. The basic concern of the movement is the disposals of those wastes are rapidly incre asing and for that reason, the nation has no more space to contain it. Analysis over the study There is so much plastic in the underwater and for this reason, water has been polluted in a drastic manner. 25% of the fishes that has brought by the Australian people have plastic in it, if these amount of plastic are not traceable then the evacuation behind the channeling of those are not understood in the proper way (Grimmer, 2017). Oceans are full of plastics and War on Waste is the kind of Program that encounters those situations and makes a voice against the situation. In the changing scenario of the dressing and garments, every ten minutes a whole lot of clothes gathers in an account from the retail places. This entire can make a drastic change in the environmental degradation fact as those composting situations and the impact of the waste is the vibrant intolerance over the nation. Taking from the coffee cup to fashion amenities Australian peoples behavior has needed to be changed so that waste mitigation can be influenced in a sequential manner. Use of plastic bag is anothe r reason that creates harm for the environment. In this contemporary time, people of this earth have used billions of plastic bags every year as an alternative to reusable bags. There are some political influences as well because as the political authority has taken the decision to formulate those plastic bags. There are some laws and legislation implemented to mitigate this situation however these things are not gone be changed if the people intervention are not implemented (Grinblatt Titman, 2016). A point when waterways, land, seas and the animals were being choked and infected by them as these are the contaminated situation that creates affect the environment. Corporate evidence and ethics ABC has done this process for the people of Australia to understand the state they are in. They also realize the state that has to be noticed so that people from Australia have known their limitation of using the waste as well as improve their waste generation that cannot affect their nation. It is a full proof war that ABC has done from own perspective to make Australia a better place of living. They have visited the supermarkets and noticed that all the waste buckets are full of good amount of foods, vegetables, and fruits. These are increasing the waste percentage as well as the people have the nature to waste this much of material. Most of the times these supermarket has imposed certain biodegradable plastics but basically, they are not at all degradable as the most of the plastics are not composed of soil or it cannot be recycled. This is the highlighting fact that ABC wants to make concern to the people of Australia as they have to think twice before making the waste (Zaman, 20 14). This is a kind of situation when the waste material needs to recycle for the betterment of the environment. Those plastic bags myths are also wrong as ALDI supermarket have certain kind of bags which the declared as comprised with 80% recycle has been proceeding but those bags are not been recycled as they are the thick quality of plastic. On the other hand, EPI has declared their plastic as the 100% degradable shopping bags but the reality is there is nothing environmental in those shopping bags. Jon Doe an environmentalist have analyzed those plastic bags and state that these are not degraded at all as they are not degraded in the smaller pieces and that might create a problem for the marine animals (Cecere Martinelli, 2017). So the apparent visions of the plastic bags are not right and though the government has known about the fact still they are not taking any action against those companies (Laurent eta al. 2014). Landfills are the issues that may create a problem for the Australian surface. All those landfills are comprised of the household garbage and perils of the farmers, those are the incorporated thing that they have imposed in the land of Australia and that create environment problem for the nation. Justification of the case In case of justified this assignment, the aspects that ABC has found are the relevant and important for this contemporary scenario. Australians have no idea that how much waste that they have generated on an everyday basis, what amount of plastic bags they have used and what are the consequences that they have to face for the entire reason (Zaman Lehmann, 2013). This is a practical research process that understands and analysis the environmental position of Australia (Thi, Kumar Lin, 2015). The Environmental Protection and Biodiversity Conservation Act is the process of conservation of environmental of Australia. These are the relevance examples of violation of these laws and that impacted over the Australian environment, as the department has a certain special law for the sea water, heritages issues, fuel equity, importing and hazardous waste (Li Yang, 2014). All these laws have the potential construct the nation in an ethical manner through the license and permits. In case of pl astic bags or bins, the situation is same as those are not at all biodegradable rather they are not recycled and that is the major concern for the Australian environment. There are some waterways where marine animals are chocked or died because of those plastic bags. Underwater plastic bag determination and those plastic bags influence is the concerning factor for the marine lives (McAlister Horan, 2017). The government has taken some initiation to change certain things for the development of environmental condition but then the things are not implemented in a proper way. Some of the supermarkets have implemented the jute carry bags in their place and those recycling bags are important for the environmental changes. Public relation and management Most of the cases are related with the food excess and they're throwing out nature of those good foods. Australia has generated 52 mega tones waste per year and that shows the double of their rate of population. This means that people having a lot more food and waste to fill the waste bucket. The government needs to take the intervention over the situation so that these problems can be handled in the proper way (Zaman, 2015). Most of the times they are doing their law implementation but in this unsuitable condition in Australia, it is quite clear to analyze the situation for the healthy environment in future. If the process goes on then underwater is being filled by the plastics, wastes and garbage. Recommendation These millions of tons of garbage consist of the household uses, retail, farming, and fashion use that signify that wastes have come up from the different section of the society. In this assignment, the major discussion point is to justify the importance of this news that has covered by the ABC. The reason behind the news is to provide an alarming notification to the people of Australia so that the level of waste they have generated can be mitigated a bit for the development of the nation and the environment (Kiddee, Naidu Wong, 2013). But in current periods, the mutual possessions of consumer mandate, supermarket strategies and pessimism about the efficiency of waste and recycling crusades has seen a flow in the capability of waste they have produced as a nation. For the future development and the sustainable condition of the nation, some important things must be done so that future generation can utilize the basic natural resources. In the general point of view, 10 million plastic bags are used in Australia and that create the crisis situation for the nation (Golev et al. 2016). The government facility section officers are there to investigate the ethical issue of the degradable plastic bags then it was quite drastic that 3000 tones in a year of plastic bags have been found in the Australian soil. They are used for the landfills for the vacant soil not predominantly degrades into the soil rather it has broken up into smaller pieces and then implemented for some other products. The public relations strategy is quite vivid on that occasion as the infarctions are taken place with the public directly and that possess into their output and impression over nature (Papargyropoulou et al. 2014). The process also justified the nature of people and the way of behaving needed for that particular. The public relation strategy is imposed over the greater human being in the Australia as each of those lives is related to that situation. Conclusion Therefore, it can be concluded that Australian Broadcasting Corporation has taken the great initiation to convey the right situation of Australia and make awareness over it. People have to understand their responsibility and generate the less amount of waste so that a sustainable environmental condition can sustain in Australia. The people have to understand the effect of plastic bags and how it makes pollution all over the nation. Strategic change in the government and the imposed laws and regulations must be strong and ethical enough to take control over the adverse situation of the country. If the people behavior and government intervention are progressed in the correct course then a good expanse of positive approach can be engendered and that will change the scenario of War on Waste by ABC. References About.abc.net.au (2017) ABCs War on Waste continues this December. Retrieved 3 November 2017, from https://about.abc.net.au/press-releases/abcs-war-on-waste-continues-this-december Barratt, P. (2016). Abbott's casualties: A coherent and judicious defence strategy.Social Alternatives,35(2), 13. Cecere, G., Martinelli, A. (2017). Drivers of knowledge accumulation in electronic waste management: An analysis of publication data.Research Policy,46(5), 925-938. Golev, A., Schmeda-Lopez, D. R., Smart, S. K., Corder, G. D., McFarland, E. W. (2016). Where next on e-waste in Australia?.Waste Management,58, 348-358. Grimmer, L. (2017). Is it so hard to say sorry? Revisiting image restoration theory in the context of Australian supermarkets.Asia Pacific Public Relations Journal,18, 17-32. Grinblatt, M., Titman, S. (2016).Financial markets corporate strategy. Kiddee, P., Naidu, R., Wong, M. H. (2013). Electronic waste management approaches: An overview.Waste Management,33(5), 1237-1250. Laurent, A., Bakas, I., Clavreul, J., Bernstad, A., Niero, M., Gentil, E., ... Christensen, T. H. (2014). Review of LCA studies of solid waste management systemsPart I: Lessons learned and perspectives.Waste management,34(3), 573-588. Li, M., Yang, J. (2014). Critical factors for waste management in office building retrofit projects in Australia.Resources, Conservation and Recycling,93, 85-98. McAlister, A., Horan, E. (2017). Acceleration of E-Learning in Australia and Impacts of E-Waste: Approaches to Reforming E-Learning in the 21st Century. InConference Proceedings. The Future of Education(p. 63). libreriauniversitaria. it Edizioni. Papargyropoulou, E., Lozano, R., Steinberger, J. K., Wright, N., bin Ujang, Z. (2014). The food waste hierarchy as a framework for the management of food surplus and food waste.Journal of Cleaner Production,76, 106-115. Thi, N. B. D., Kumar, G., Lin, C. Y. (2015). An overview of food waste management in developing countries: current status and future perspective.Journal of environmental management,157, 220-229. Thompson, L., Wadley, D. (2017). Ideology,'truth'and spin: Dialectic relations between the neoliberal think-tank movement and academia in Australia.Australian Universities' Review, The,59(1), 76. Zaman, A. U. (2014). Measuring waste management performance using the Zero Waste Index: the case of Adelaide, Australia.Journal of cleaner production,66, 407-419. Zaman, A. U., Lehmann, S. (2013). The zero waste index: a performance measurement tool for waste management systems in a zero waste city.Journal of Cleaner Production,50, 123-132. Zaman, A. U. (2015). A comprehensive review of the development of zero waste management: lessons learned and guidelines.Journal of Cleaner Production,91, 12-25