Business Environment Essay Example | Topics and Well Written Essays - 500 words - 3

Business Environment - Essay Example The firm has developed its brand through the high quality food and service that it offers to all its customers. The firm has been able to capture a desirable percentage of market shares in terms of food market and on the other hand Waitrose has also gained its importance in the organic food market and fish market. This British supermarket chain which is partnership firm has an employee base of 91,000 (Randall and Seth, 2011).The organization operates on the concept of centralized decision making. Albam a small high street retailer was founded by Alastair Rae and James Shaw who have proved to be great partners through their decision making approach and strategy formulation. Both of them worked together with all its workers so as to deliver the best services to all its customers and position themselves as a strong brand in the market (Pride, Hughes and Kapoor, 2011).The retail business of Albam is focused towards developing sophisticated and practical menswear that is aligned with the ever changing fashion scenario. The small retailer has extended its branches into two other locations in London. The business ownership structure of this small retail firm is that the owners and staff aim at providing personal service to all its customers. The staffs get feedback from the customers and on that basis they develop their designs so that they are able to retain their customers and create more of timeless fashion (Menipaz and Menipaz, 2011).Thus it can be stated that ownership structu re of Waitrose which is a big firm, is completely different with that of a small firm such as Albam. In case of Albam the focus towards customer loyalty and dealing individually with customers but on the other hand the owners of Waitrose are more aligned towards smooth running of the subsidiary by enhancing their level of service through providing online facilities to all its customers (Heskett, Sasser

Asoka Has Contributed Many Significant Contributions Religion Essay

Asoka Has Contributed Many Significant Contributions Religion Essay Asoka has contributed many significant contributions to the development of Buddhism. Asoka became the first Buddhist emperor, and he conversed to Buddhism in 261 BCE and was then known as Dharmasoka. Asoka contributed to the development of Buddhism in three important ways. First he applied basic principles of Buddhism to his rule through government and foreign policies. Second and the most significant contribution, Asoka supported missionaries, he sent them throughout the kingdom in order to spread the teachings of Buddhism. Third, Asoka was able to maintain Buddhism as a major religious tradition in the kingdom. Asoka was able to contribute interfaith dialogue; he maintained positive dialogue with people of other religions because he believed all religions are good. Asoka believed the first precept (Ashismsa) and generosity were very important in witnessing the faith. Asoka taught people about Buddhism in different ways to help them best understand all the Buddhist teachings. For ex ample Asoka taught the educated through writing on edicts and pillars, whereas he taught the uneducated through ministry, stories and paintings. Asoka strengthens Buddhism through Viharas, he built these shrines in order for the Sangha to worship in and practice their faith. Asoka established social welfare support because Asoka believed it was important to support all his people. An example of a social welfare that Asoka did was he grew medicinal herb gardens and shade areas for all the people. Most importantly Asoka believed that everyone should be treated with friendliness. Asoka has been a big part in the development of Buddhism and has contributed many important and significant contributions that are still being used and continued to be followed today. Assess the impact on Buddhism of the significant person or school of thought identified in the previous question. The contributions of Asoka to Buddhism have had a great impact on the Buddhism community. Asokas contribution of the missionaries has impacted Buddhism significantly, it allowed Buddhism to expand beyond Mauryan Empire. A positive impact Asoka had was religious tolerance, as now the Buddhism religion is being respected and is expanding to other neighbouring kingdoms. For example, Asoka sent his son and daughter to Sri Lanka with the missionaries and the impact this had was Sri Lanka converted to Buddhism. Asoka contributions impacted his kingdom significantly. Through Asoka the Sangha and Lay people were able to unite through worshiping in the temples and shires. If it wasnt for Asoka building the Viharas, people wouldnt have been able to unite together and worship their religious tradition. Buddhism is now publicly worshiped and this is due to one of Asokas contributions. Examples of Asokas contributes that are impacted by public worship of Buddhism is the stupas, temples and rock e dicts which are everywhere in the kingdom and visible to the public as they have the Buddhist teachings on them. People were impacted by Asoka as they saw him as a true witness to the faith. This is because Asoka showed how to correctly live the Buddhist life according to the ethics of Buddhism. Also Asoka influenced the people around him to adapt Buddhist teachings to their way of life, this is an ethical decision. The significant impact Asoka left on the Buddhism community is his conversion from a harsh person and a murderer to living by Buddhist ethical standards, which is a very big deal for both Asoka and his people. Through rock edicts, stupas and missionaries Asoka was able to promote Buddhist education as equal access to knowledge. The most important impact Asoka left from his contributions was the importance of social welfare as he showed his people how important social welfare in Buddhism and the care for others is. This was shown through Asokas examples of social welfare, some of these examples include, medicinal herb gardens, hospitals, planting trees and lastly treating everyone friendly and with fairness. People have witnessed Asokas ruling over the kingdom as being a true example for all people of what the lived expression of Buddhism should be through his witness to the faith and this has all significantly impacted all the people of his kingdom and other people from his neighbouring kingdoms who are now Buddhist because of him. Islam In the name of God, Most Gracious, Most Merciful,to You lone do we turn for help. Guide us along the straight path. To what extent does this quotation expresses a significant person/school of thoughts distinctive Islamic answer to the enduring questions of human existence? Islam is the submission to Allah. There is a division in adherents in Islam; the two main sects are the Sunni and the Shia. The shiites believes that the accurate leadership of Muslims after Muhammads son-in-law continues through a line of religious teachers. Sunnis support the dominance of the caliphs, which is the line of rulers elected by the people to guard the visionary legacy in the running of community relationships. Islam adherents believe that there is only one God, called Allah. The stimulus above the to you lone do we turn for help. Guide us along the straight path shows this meaning, that there is only one true god and that the adherents are to follow that one god, in order for their questions about human existence to be answered and to be lead on the correct path. The stimulus above is from the Quran, the holy book for Muslim adherents. Sayyid Qutb was a significant person who helped answer the fundamental questions by expressing his distinctive Islamic answers to the questions of human existence. Sayyid Qutb answered those questions through his new interpretation of the principal teachings. His new interpretation was that he wanted everyone in state of Hakimiyya, and this only exists under the Sharia law. Sayyid Qutbs principal teachings to his adherents include Jihad, Jahiliya/Hakimiyya, and submission to the will of Allah which is very important (away from western influences), centrality of Allah through Tawhid (oneness) and Aquida (belief in god) and lastly Sharia law. Sayyid Qutb had a radical practice of Islam which he influenced his adherents to follow. He expressed to the adherents that it was important to have modest life styles of living, and living free from negative influence of the west, namely sexual freedom and materialism. By the adherent following Muhammads way of life, they are helped by Allah and guided to the right path. Sayyid Qutb answered the questions of human life through his philosophy. His philosophy was Hakimiyya, Jahiliya, Jihad, and in order to be in the state of Hakimiyya adherents need to overcome Jahiliya by Jihad. Sayyid Qutb philosophy answers those questions as they express the importance of submission to Allah and he showed adherents how to live to God. The stimulus means to be submitted to Allah, and to only believe in the one true God. Sayyid Qutb was born in Musha, Egypt in 1906, and in 1916 he attended a school in his local village. In 1919 Sayyid Qutb dropped out of school for two years, and he then moved to Cairo in 1920 where he finished his high school education. In 1929 he attended Dar Al-Alum University. Between 1939-1948 Sayyid Qutb worked as a university teacher, he also wrote many articles that reflected the Liberal values. In 1948, Sayyid Qutb, he went to America, achieved a Masters Degree education, and he also wrote a book Social in Islam building an Islamic idea of Tawhid. In 1949 he wrote another book called In the shades of the Quran, which was a commentary on the Quran. An example from the book In the shades of the Quran is There is nothing hindering people to seek the mercy of Allah. All they have to do is to seek it directly from Allah without mediation or intercession except heading to Him in obedience, hope, confidence and submission.  [1]  This quote from the book helps adherents understa nd how important the submission to Allah is, and also in the stimulus above it helps adherents find answers to their questions about human existence. Sayyid Qutb joined Islamic brotherhood. In 1954 Sayyid Qutb was first arrested and jailed for conspiracy to overthrow the ruling Egyptian government through the use of lesser Jihad which he encouraged. He was released from prison in 1964. A year later in 1965 he published another book called the Milestone. In this book he criticised the west because he didnt like the way they were living, and because of that his philosophy about. An example of a quote from the book Milestone is ..as a family is the basis of the society, and the basis of the family is the division of labour between husband and wife, and the upbringing is the most important function of the family, then such a society is indeed civilised  [2]  . In this quote Sayyid Qutb is emphasising that Islam and the Islamic style of living encourages this kind of family. By becoming this family adherents are living the right way of life according to Allah. Sayyid Qutb was rearrested and jailed again on charges of conspiracy aga inst the ruling government, which was implemented through Milestones. In 19966 Sayyid Quote was executed by hanging. As shown in the stimulus above, Sayyid Qutb is an example to the adherents on the right way of life and the right path to take. Sayyid Qutbs philosophy is all about Hakimiyya, and the way to achieve it, his philosophy also consists of Jahiliya and Jihad. He wanted all of the adherents in society to be Hakimiyya, which means for adherents to accept the Sharia and live under it, Hakimiyya is the goal in life. In reference to the stimulus above by being in the state of Hakimiyya you submitting to Allah and following the one true God. Jahiliya is thesubmit to materialism and sexual freedom. In Jihad, there is greater Jihad which is individual struggle to submit to the will of Allah and lesser Jihad which is holy war, and the use of military means. Sayyid Qutb mostly focused on the greater Jihad. His philosophy is all about being in the state of Hakimiyya and overcoming Jahiliya. Sayyid Qutb lived his philosophy and he showed the right way to live to the submission to the will of Allah, in reference to the stimulus this is important in order of walking the right path. Sayyid Qutb has impacted many people, both followers of his philosophy and opposers of his philosophy. The impacts his left on his followers include he brought a new and more relevant understanding of Islam and how it should be lived and he died as a martyr for Islam. He is a model of living his Islamic principles, in spite of the personal consequence even death. Opposers of his philosophy believe that he is a poor example of what Islam should be, also there were protests against him and many Muslims didnt want him known as a significant person. His radical views are seen as examples to other people as there are many radical groups that exist today and follow his philosophy. In reference to the stimulus, Sayyid Qutb is seen as a person who was able to answer the questions about human existence to all adherents. People who follow his philosophy see him as a good example on the way to live to the submission to the will of Allah, and praying to the only true God. Sayyid Qutb has radically interpreted the Quran and he has affected many adherents. His philosophy, Hakimiyya, Jahiliya and Jihad, has answered all the questions that each adherent asks themselves about the existence of life. The meaning behind the stimulus is that there is one true God, and adherents should only follow that one God, also that they should live to the submission of Allah. The Tawhid gives adherents their beliefs and encourages them to live the proper way of life and following in Muhammads footsteps. Sayyid Qutb is a significant person who was able to distinctively answer the enduring questions of human existence.

Love Between a Parent and Child in After Making Love We Hear Footsteps

Love Between a Parent and Child in After Making Love We Hear Footsteps There are several different definitions for the word love. Love is a simple four-letter word, with a multitude of caring and feeling behind it. There is a difference between loving somebody and being in love with somebody. The love between two best friends or between a husband and wife are the types of love that people want to last forever. However, there are no guarantees that it will last forever. Furthermore, the love between family members and the love between a parent and child is the kind of love that will last a life time. In Galway Kinnell’s poem â€Å"After Making Love We Hear Footsteps† Kinnell writes about the love between a parent and child. Galway Kinnell describes the familiar middle of the night act of a child climbing into bed with the parents. The poem begins with the father describing that no matter how much noise is being made, the child is able to sleep through anything. For example, Galway Kinnell states: or play loud music or sit up talking with any reasonably sober Irishman and Fergus will only sink deeper into his dreamless sleep, which goes by all in one flash, However, let there be a slight sound from the parents when they want to be alone and the child wakes up instantly. For example, Galway Kinnell writes in his poem: but let there be that heavy breathing or a stifled come-cry anywhere in the house and he will wrench himself awake Being a parent has many responsibilities. Parents have to give up a lot of their own privacy and time when it comes to their children. For example, starting on line sixteen, Galway Kinnell writes: after making love, quiet, touching along the length of our bod... ...will never die. There may be some times in the child’s life when they think that their parents do not love them. Some families end up not speaking to each other for a long period of time. It could last a couple of days, a couple of weeks, or even a couple of years. No matter how long it takes, the child will always know that they can count on their mother and father loving them forever. The parents will always be there for their children. The children can always rely on the parents for support and complete understanding through the good times and the bad times. Unlike other love relationships, the love relationship between a parent and child will never fade away. There are no guarantees with normal relationships lasting forever. However, the relationship between a parent and child is guaranteed to last forever. They will love each until the day they die.

Fi 360 Week 2

3-2. Dixon Shuttleworth has a large sum of money that he wants to invest to finance his retirement. He has been presented with three options. The first investment offers a 5% return for the first five years, a 10% return for the next five years, and a 20% return thereafter. The second investment offers 10% for the first ten years and 15% thereafter. The third investment offers a constant 12% rate of return. Determine which of these investments the best for Dixon is if he plans to retire in the following number of years. a. ifteen years b. twenty years c. thirty years 3-4. You have a trust fund that will pay $1 million exactly ten years from today. You want cash now, so you are considering an opportunity to sell the right to the trust fund to an investor. a. What is the least you will sell your claim for if you could earn the following rates of return on similar risk investments during the ten-year period? a. 6% b. 9% c. 12% b. Rework part (A) under the assumption that the $1 million payment will be received in fifteen rather than ten years. c.Based on your findings in parts (a) and (b), discuss the effect of both the size of the rate of return and the time until receipt of payment on the present value of future sum. 3-5. You have saved $10,000 toward a down payment on a home. The money is invested in an account earning 7% interest. You will be ready to purchase the new home once your savings account grows to $25,000. d. Approximately how many years will it take for the account to reach $25,000? e. If the interest rate doubles to 14%, how many years will pass before you reach your $25,000 target? 3-10.Liliana Alvarez’s employer offers its workers a two-month paid sabbatical every seven years. Liliana, who just started working for the firm, plans to spend her sabbatical touring Europe at an estimated cost of $25,000. To finance her trip, Liliana plans to make six annual end-of-year deposits of $2,500 each, starting this year, into an investment account ear ning 8% interest. d. Will Liliana’s account balance at the end of seven years be enough to pay for her trip? e. Suppose Liliana increases her annual contribution to $3,150. How large will her account balance be at the end of seven years?

Passion and Betrayal in “Roman Fever” Essay

â€Å"Roman Fever† is a very dynamic story, were things aren’t necessarily what they appear. The characters have two faces: the ones they show each other and the ones evident to the reader through the narration. The setting, the title, and the dialogue all develop the plot. Hypocrisy and deceit are present throughout the whole story, and they greatly drive the plot. Wharton uses irony, an omniscient narrator, and symbolism to convey the theme of passion and how it can poison the mind, leading to destructive actions. The way the author chose to narrate the story is vital to how it is perceived. The story is in a third person omniscient point of view, which greatly develops the characterization of Grace and Alida. Various times throughout the story, one of the women says something to the other and afterward that narrator will reveal to the reader what she is really thinking. This helps show the reader the hypocrisy and deception in their words. One example of this is when the women are talking about roman fever and its dangers. In the midst of this, the narrator tells us that Alida thinks she â€Å"must make one more effort not to hate her† (Wharton 115). This exposes to the reader directly for the first time that there are some underlying issues and unfinished business between these characters that they are avoiding. Another factor that contributes to the progress of the plot are the numerous symbols that Wharton chose to employ. One of the most noticeable of these is the setting. Rome is a city that almost always evokes images of passion and romance. Within this setting, the climate and time changes directly parallel the gradual changes in the women’s relationship. This is especially evident when Alida first reveals that she wrote the letter that Grace had though she received from Delphin many years ago. After this information is brought to light, the two women stand â€Å"for a minute staring at each other in the last golden light† (117). The last few moments of sun are representative of the  last moments of politeness between these two women. After â€Å"the clear heaven overhead was emptied of all it’s gold† (118), all of the women’s passionate secrets start spilling out. Grace divulges that she answered to the letter, and that Delphin came to meet her tha t night. This revelation completely changes Alida’s idea of her relationship with her late husband. The ruins that are described, the forum and the Colosseum, also mirror what happened between these two women. These structures, once representatives of Rome’s magnificence, are now reduced to a â€Å"great accumulated wreckage of passion and splendor† (114). The same goes for the friendship between these women. Love and passion came between them, causing great betrayal on both sides. This has diminished their friendship until it is really no longer there, replaced by lies and treachery. Right before Grace reveals her greatest secret, that Barbara was really Delphin’s daughter, she is â€Å"looking away from [Slade] toward the dusky secret mass of the Coliseums† (119). The â€Å"secret mass† of ruins is a direct description of their friendship, which was destroyed because of jealousy and lies. Another important symbol in the sort story is the title. â€Å"Roman Fever† has a double meaning; it was an outburst of malaria that plagued Rome in the past, but it also represents the feverish passion present in the women’s story. It is a symbol for Alida’s jealousy of Grace, and how it has simmered inside her for all of these years. Both of the women are victims of roman fever in the sense that they both fell into dangerous games of love, passion, and betrayal. This betrayal is also alluded to in the story about Aunt Harriet. The story goes that Aunt Harriet â€Å"sent her little sister to the Forum after sunset to gather a night blooming flower†¦but she really sent her because they were in love with the same man† (115). The sister died. It is possible that Alida was inspired by this story to write the fateful letter to Grace. An element that greatly contributes to the overall tone of the story is irony. Many lines throughout the narrative all culminate to the final line of the story: â€Å"I had Barbara†(119). Here, Grace is revealing that her daughter Barbara is also daughter of Alida’s husband Delphin. This line alone exposes the irony in many other parts of the story. This is apparent when Alida is thinking about Barbara Ansley. â€Å"Babs†¦ had more edge. Funny where she got it, with those two nullities as parents† (112). Irony is also present when Alida tells Grace that she was â€Å"wondering how two such exemplary characters as you  [Grace] and Horace had managed to produce anything quite so dynamic?† (114). These lines are very ironic because the reader later learns that Horace Ansley had nothing to do with the birth of Barbara. Through the use of irony, symbols, and an all-knowing narrator, Edith Wharton presents passion, betrayal, and deceit between two women. It is repeatedly conveyed in the story that things are not always what they appear on the surface, it takes a second look to realize the underlying sentiments that are occurring. This is present both in the infinite symbols in the story as well as the passion that drove Grace and Alida’s friendship to ruin. Even though they had known each other for a long time, â€Å"these two ladies visualized each other, each through the wrong end of her little tel escope†(113). Because of the destruction that their betrayals had caused when they were young women, these two people who had been â€Å"intimate since childhood† (112) discover that they truly know nothing about the other at all.

Hamlets Relationship with His Mother essay

Hamlets Relationship with His Mother essay Hamlets Relationship with His Mother essay Hamlets Relationship with His Mother essayHamlet’s relationship with his mother was complicated by her marriage to Claudius only two months after his father’s death. Hamlet was horrified by his mother’s decision. When his father’s ghost asked Hamlet to revenge Claudius, he did not want to injure his mother. Hamlet loved his mother and wanted to forgive her, but he planned to revenge his uncle who practically ruined his family.Hamlet loved his mother without feeling he was betraying his father. He loved her as a son, although she remarried very soon after his father’s death. He said: â€Å"But two months dead †¦ Ere yet the salt of most unrighteous tears had left the flushing in her galled eyes, she married† (1.2. 150-53). As a result, Hamlet refused to change his mourning clothes into the clothes for the wedding day of his mother and refused to participate in the wedding celebrations. This fact means Hamlet was disappointed with this dec ision of his mother.In addition, Hamlet’s relationship with his mother can be described as close relationship. Hamlet respected his mother and highly valued her ideals and morals. Unfortunately, the death of his father changed his attitude to people, especially to women. Shakespeare demonstrated how the relationship of the child to his mother could be changed. Hamlet did not want to be cruel to his mother, although the closet scene showed that Hamlet could use his force to persuade his mother to avoid having sexual intercourse with Claudius. Later, Hamlet would explain his position, â€Å"My mother. Father and Mother is man and wife, man and wife is one flesh, and so my mother† (4.3. 54-55).In conclusion, it is necessary to say that the relationship between Hamlet and his mother can be describes as close relationship between the loving son and the loving mother. Hamlet loved his mother affectionately, although he did not support her decision to marry Claudius. Hamlet w as focused on finding the way to revenge his father’s killer, but he did not want to lose his mother because of this revenge. Hamlets Relationship with His Mother essay Hamlets Relationship with His Mother essay Hamlets Relationship with His Mother essayHamlet’s relationship with his mother was complicated by her marriage to Claudius only two months after his father’s death. Hamlet was horrified by his mother’s decision. When his father’s ghost asked Hamlet to revenge Claudius, he did not want to injure his mother. Hamlet loved his mother and wanted to forgive her, but he planned to revenge his uncle who practically ruined his family.Hamlet loved his mother without feeling he was betraying his father. He loved her as a son, although she remarried very soon after his father’s death. He said: â€Å"But two months dead †¦ Ere yet the salt of most unrighteous tears had left the flushing in her galled eyes, she married† (1.2. 150-53). As a result, Hamlet refused to change his mourning clothes into the clothes for the wedding day of his mother and refused to participate in the wedding celebrations. This fact means Hamlet was disappointed with this dec ision of his mother.In addition, Hamlet’s relationship with his mother can be described as close relationship. Hamlet respected his mother and highly valued her ideals and morals. Unfortunately, the death of his father changed his attitude to people, especially to women. Shakespeare demonstrated how the relationship of the child to his mother could be changed. Hamlet did not want to be cruel to his mother, although the closet scene showed that Hamlet could use his force to persuade his mother to avoid having sexual intercourse with Claudius. Later, Hamlet would explain his position, â€Å"My mother. Father and Mother is man and wife, man and wife is one flesh, and so my mother† (4.3. 54-55).In conclusion, it is necessary to say that the relationship between Hamlet and his mother can be describes as close relationship between the loving son and the loving mother. Hamlet loved his mother affectionately, although he did not support her decision to marry Claudius. Hamlet w as focused on finding the way to revenge his father’s killer, but he did not want to lose his mother because of this revenge.

Free Essays on College Admissions

High School is a strange time. After three years of trying to develop an identity and friends in grammar school, students are expected to mature immediately on the first day of ninth grade, but I never did this. I never fully realized in the earlier grades how important high school success, as measured by GPA, would be to my future life, and as a result I am applying to college with seemingly contradictory measures of my ability to perform college-level work. If I had worked and studied hard rather than hanging out with friends and viewing high school as a chance to socialize, I would not have to apply to school with an 890 SAT and a 2.5 GPA. Had I taken my grades in my earlier years seriously, I could have been a college’s dream candidate. This year I have made my earnest effort to improve my work ethic. My grade point average is rising and my study habits are improving. However, after performing poorly for these three years, my GPA cannot reflect the transformation I underwent at the start of this year. Dedicated to making something of myself, I finally matured an am now trying to lessen the consequences of my past actions. Armed with my attitude and my understanding of the extreme importance of earning good grades to signal my capacity to work responsibly, I assure you will never revert to the student I once was. In retrospect, I believe that it was my inability to choose my classes that resulted in my lack of enthusiasm on the ride to school each morning. I enjoy the freedom to pursue my own interests and anxiously anticipate choosing my own class schedule in college. While I understand that college will be significantly more challenging in high school, I have always found it easier to study for a class that interests me. I am also willing to accept the fact that as long as I am in school, I will be forced to take required course that I might be less enthusiastic about. However, with my new goal-oriented nature, I ... Free Essays on College Admissions Free Essays on College Admissions High School is a strange time. After three years of trying to develop an identity and friends in grammar school, students are expected to mature immediately on the first day of ninth grade, but I never did this. I never fully realized in the earlier grades how important high school success, as measured by GPA, would be to my future life, and as a result I am applying to college with seemingly contradictory measures of my ability to perform college-level work. If I had worked and studied hard rather than hanging out with friends and viewing high school as a chance to socialize, I would not have to apply to school with an 890 SAT and a 2.5 GPA. Had I taken my grades in my earlier years seriously, I could have been a college’s dream candidate. This year I have made my earnest effort to improve my work ethic. My grade point average is rising and my study habits are improving. However, after performing poorly for these three years, my GPA cannot reflect the transformation I underwent at the start of this year. Dedicated to making something of myself, I finally matured an am now trying to lessen the consequences of my past actions. Armed with my attitude and my understanding of the extreme importance of earning good grades to signal my capacity to work responsibly, I assure you will never revert to the student I once was. In retrospect, I believe that it was my inability to choose my classes that resulted in my lack of enthusiasm on the ride to school each morning. I enjoy the freedom to pursue my own interests and anxiously anticipate choosing my own class schedule in college. While I understand that college will be significantly more challenging in high school, I have always found it easier to study for a class that interests me. I am also willing to accept the fact that as long as I am in school, I will be forced to take required course that I might be less enthusiastic about. However, with my new goal-oriented nature, I ...

Pharaoh Thutmose III and the Battle of Megiddo

Pharaoh Thutmose III and the Battle of Megiddo The Battle of Megiddo is the first battle that was recorded in detail and for posterity. Pharaoh Thutmose IIIs military scribe inscribed it in hieroglyphs at Thutmoses temple at Karnak, Thebes (now Luxor). Not only is this the first extant, detailed battle description, but it is the first written reference to the religiously important Megiddo: Megiddo is also known as Armageddon. The Ancient City of Megiddo Historically, Megiddo was an important city because it overlooked the route from Egypt through Syria to Mesopotamia. If an enemy of Egypt controlled Megiddo, it could block the pharaoh from reaching the rest of his empire. In approximately 1479 B.C., Thutmose III, pharaoh of Egypt, led an expedition against the prince of Kadesh who was in Megiddo. The prince of Kadesh (which is on the River Orontes), backed by the king of Mitanni, made a coalition with the heads of Egypts vassal cities of northern Palestine and Syria. Kadesh was in charge. After forming the coalition, the cities openly rebelled against Egypt. In retaliation, Thutmose III attacked. The Egyptians March on Megiddo In the 23rd year of his reign, Thutmose III went to the plains of Megiddo where the prince of Kadesh and his Syrian allies were stationed. The Egyptians marched to the bank of Lake Kaina (Kina), south of Megiddo. They made Megiddo their military base. For the military encounter, the Pharaoh led from the front, brave and impressive in his gilded chariot. He stood in the center between the two wings of his army. The southern wing was on the banks of the Kaina and the northern wing to the northwest of the town of Megiddo. The Asian coalition blocked Thutmoses path. Thutmose charged. The enemy quickly gave way, fled from their chariots, and ran to the Megiddo fortress where their fellows pulled them up the walls to safety. (Remember, this is all from the perspective of the Egyptian scribe writing it to glorify his pharaoh.) The prince of Kadesh escaped from the vicinity. The Egyptians Plunder Megiddo The Egyptians could have pushed on to Lebanon to deal with the other rebels, but instead stayed outside the walls at Megiddo for the sake of plunder. What they had taken from the battlefield may have whetted their appetite. Outside, on the plains, there was plenty to forage, but the people within the fortress were unprepared for a siege. After a few weeks, they surrendered. The neighboring chiefs, not including the prince of Kadesh, who had left after the battle, submitted themselves to Thutmose, offering valuables, including princely sons as hostages. The Egyptian troops entered the fortress at Megiddo to plunder. They took almost a thousand chariots, including the princes, more than 2000 horses, thousands of other animals, millions of bushels of grain, an impressive pile of armor, and thousands of captives. The Egyptians next went north where they captured 3 Lebanese fortresses, Inunamu, Anaugas, and Hurankal. Sources A History of the Ancient Egyptians, by James Henry Breasted. New York: 1908. Charles Scribners Sons.Ancient Records of Egypt: Historical Documents Volume II The Eighteenth Dynasty, by James Henry Breasted. Chicago: 1906. The University of Chicago Press., by Joyce A. TyldesleyHistory of Egypt, Chaldea, Syria, Babylonia, and Assyria, Vol. IV. by G. Maspero. London: Grolier Society: 1903-1904.A Gate Inscription from Karnak and Egyptian Involvement in Western Asia during the Early 18th Dynasty, by Donald B. Redford. Journal of the American Oriental Society, Vol. 99, No. 2. (Apr. - Jun. 1979), pp. 270-287.The Battle of Megiddo, by R. O. Faulkner. The Journal of Egyptian Archaeology, Vol. 28. (Dec. 1942), pp. 2-15.The Egyptian Empire in Palestine: A Reassessment, by James M. Weinstein. Bulletin of the American Schools of Oriental Research, No. 241. (Winter, 1981), pp. 1-28.

Preliminary investigation Assignment Example | Topics and Well Written Essays - 500 words

Preliminary investigation - Assignment Example The basic steps include the filing of a Complaint-Affidavit, the Issuance of subpoena by the prosecutor who is investigating to the respondent, the filing of a counter-affidavit by the respondent, the filing of a Reply-Affidavit and Rejoinder-Affidavit and resolution. In a primary investigation, a number of things are included. They include: ascertaining if the suspect is armed and still in the area, proceeding to the scene safely and promptly, rendering assistance to the injured, effecting the arrest of the criminal, locating and identifying witnesses, interviewing the complainant and witness, maintaining the crime scene and protecting evidence, interrogating the suspect, arranging the collection of evidence, reporting the incident accurately and fully, and yielding the responsibility to the follow-up investigator (Urlacher & Duffy, 2010). The most important aspect of these is the securing of the crime scene and protection of evidence. This is because the scene of crime usually provides some important leads as well as evidence that can be useful in settling the case. If the scene is not secured, the evidence might be tampered with, and this jeopardizes the settling of the case. Preliminary investigation benefits the plaintiff in that it provides room for an investigation that might bring evidence that supports his or her case. It avoids a hasty trial that can be defeated on grounds of insufficient evidence. Therefore, by identifying a probable cause, the preliminary investigation helps to solidify the plaintiff’s case. It is beneficial to the judicial economy because with the appropriate evidence, judges are able to make a quick determination so that the case does not drag on for long. Mary Carter Agreements are used in the settlement of multi-party litigations. According to Sedrak (2012), a Mary Carter Agreement is a contract or agreement whereby one codefendant makes a secret agreement with the plaintiff that if

Paradise Lost vs. Heart of Darkness Essay Example | Topics and Well Written Essays - 1750 words

Paradise Lost vs. Heart of Darkness - Essay Example Marlow’s narration about his journey to the Congo in Africa is the central subject of the novel. Marlow is employed as a ferry-boat captain by a Belgian trading company. His job is to carry ivory downriver, but the main task assigned to him is to bring Kurtz back to his society. Kurtz is a rebel who has moved away from his own civilization and settled in deep jungles of Congo. The character of Kurtz is revealed by Marlowe’s narration inducing a mixed feeling of hatred and sympathy for him. In the epic poem, â€Å"Paradise Lost† by John Milton, the poet recounts the events that led to the downfall of mankind. Adam and Eve, the first human beings to be created by God lived in the Garden of Eden. The beauty of the Garden of Eden was so enchanting that it was also called as Paradise. But Satan who was keen to avenge God, lures Eve to consume the forbidden fruit. On the knowledge of Eve’s horrendous act, Adam also eats the fruit for he is not ready to leave Eve alone in her suffering. Adam and Eve are expelled by God from the Garden of Eden as a chastisement for their act of disobedience. The title of the poem refers to the lost purity of Adam and Eve. The two characters that make one to feel sympathetic towards them are Kurtz in the novel, â€Å"Heart of Darkness† and Adam in the poem, â€Å"Paradise Lost†. Kurtz has gained control on the tribes of the jungle and taken over the territory. He has a great influence on the native tribes who worship him. The company is not ready to accept any threat to its own control over the region and assigns Marlowe to bring Kurtz back to his own civilization. Kurtz has settled in jungles as an act of defiance against the cruel ways of the company but he is not able to keep himself away from the temptation of power. He utilizes the natives to conduct brutal incursions in the neighboring regions to procure ivory. Though Kurtz is living amidst the

Muscle Strength Assessment Essay Example | Topics and Well Written Essays - 1250 words

Muscle Strength Assessment - Essay Example Consider that the minute diameter afferent impacts efferents, hence, sensitivity of the muscle spindle and likely resulting to proprioceptive acuity that may not be attributed to the exhausted muscle. This could take place in different areas in the exercise region and likewise, contra laterally (Pedersen, 1999). Though, it is claimant that the clinicians must delay the process of the joint position sense evaluation because of the fatigue state, unless the assessment of the proprioceptive effects of fatigue is deliberate, it shows that there were no report about the presumptive effects of exercise that are non-exhausting. Even so, extreme non-exhausting exercises, like the strengthening and muscle evaluation, are likely to produce the said metabolic results that keeps the possibility of acute effects on the micro trauma in the spindle muscles, spindles of the muscle and changed in the neurone excitability of the spinal neurone. The chance to evaluate the effe... sults that keeps the possibility of acute effects on the micro trauma in the spindle muscles, spindles of the muscle and changed in the neurone excitability of the spinal neurone. The chance to evaluate the effects of the strength of the thigh muscle on the joint sense, most especially during sports activities, directs to the collaboration of research study with other groups who also wants to study the same subject. The joint position sense evaluation result on both knees was already published in by Stillman in 1998. Justification for Proprioceptive Treatments In 1996 Sports Medicine and Musculoskeletal Surgery, Joerosch & Prymka specified that: "In conservative therapy more focus should be put on exercising the proprioceptive capability. In surgical therapy we should identify procedures which not only restore the anatomy but also reconstruct the neurophysiological feedback mechanism. In preventive programmes, proprioceptive training should be included as well"(177). The similar observations were brought about by Safran and others, in 1994. In aid for the proceeding discussion, proprioceptive treatment pertain to any therapeutic operations that is assumed to rejuvenate, enhance or maintain proprioception. At present, however, it is still unknown if it yields. Moreover, surgeons have some grounds in the attempt of retaining much of the proprioceptively stimulated structures likely in the anterior cruciate ligament restoration and in the surgical replacement of the osteoarthritic joints ( Safran et al 1994, Insall et al 1981). Histological experimental studies in animals resulted in reconstituted mechanoreceptor in the reconstructed cruciate ligaments in the 6 to 12 months post operative ( Barrack et al 1997, Denti et al 1994, Tsujimoto et al 1993, Goertzen

A Very Old Man with Enormous Wings Essay Example | Topics and Well Written Essays - 500 words - 1

A Very Old Man with Enormous Wings - Essay Example "A Very Old Man with Enormous Wings’’ is the reflection of relations between real and divine worlds. Firstly, it should be noted that there is no need to focus on reality of the events. It is better to open the minds of readers to new opportunities and creative triggers. It is even impossible to claim whether this angel is real or not, or from which world he has come from. Common people are unable to meet with the miracle and when they have this magic opportunity they even do not know what to do. Angel tries to teach people in patience, which is almost a supernatural feature and it is hardly conceivable by the people. There is no cruelty or anger about this angel. Maybe, it is his main intention to teach people to be more tolerant and friendly. This is the main question, I am interested in. A didactic nature of this story should be found in the Angel’s distant guidance of people and not in imposing doctrines of goodness or patience on them. The Angel is capable of making miracles, but people do not seem to be ready for them. Thus, for example, when he is asked to return vision to a blind man, the latter obtains three teeth. What is even more scaring is that people’s greediness prevents them from close relations with the h Angel and good natured emotions shown towards him. They are so much focused on their own troubles and even their achievements do not make them happier. Pelayo and Elisenda do not care much about the Angel, they just clean him from time to time, but they do not want to think deeply and obtain magical lessons from the Angel.

Cellular Network and Smartphone Application Security Research Paper

Cellular Network and Smartphone Application Security - Research Paper Example Numerous applications present in smart phones have raised new security questions. Security is a prime requirement for users today and therefore users should be knowledgeable about their vulnerability to attacks. Types of Cellular Networks 2G Stands for second generation wireless telephone technology it’s known as Personal Communications Service, or PCS, in the United States. 2G technologies can be broadly divided into  TDMA-based, FDMA-based and  CDMA-based standards. Compared to previous 1G networks that were analogue, 2G offered digital encryption and started the data service for cell phones including text messages. Digital signals allowed effective data compression and multiplexing while reducing the emission of radio power. Enhanced security decreased the incidences of frauds. 2G is also a cell phone network protocol .Their features included voice mail, caller ID, Conference calling and simple web applications like web browsing and email. Some modifications in 2G led t o the evolution of 2.5G and 2.75G that account for the transition to 3G. 2.5G has a circuit switch domain and included MMS technology along with GPRS. 2.75G technology enables improved data transmission rates by virtue of being an extension on top of standard GSM hence performed better than its predecessors 2G and 2.5G. 3G Third generation succeeded the GSM standards. It provided great speed to browse through WebPages, play 3D games, download or stream full motion music videos. Verizon Wireless was the first to introduce 3G services in 2005.3G was accompanied by increase bandwidth, and greater support for diverse applications by the inclusion of packet-switched data with spectral efficiency at greater speeds. There are two 3G families 3GPP and 3GPP2. 3GPP was formed to foster deployment of 3G networks that came from GSM. Deployment GPRS and EDGE began in 2000 and 2003 respectively. These technologies are defined by IMT-2000.IMT2000 stands for International mobile telecommunications while 2000 means it was launched in 2000 had data rates of 2000 Kbp and frequency range of 2000 MHz. 3GPP2 was introduced to help operators using CDMA2000 to move to 3G. 3.5G was introduced with cable speeds and its added features include faster browsing of graphic intensive site and on demand videos.    4G Fourth generation refers to fourth-generation wireless that overtakes the 3G technology. What really constitutes 4G is not yet defined but 4G networks are distinguished by their use of orthogonal frequency-division multiplexing (OFDM) rather than (TDMA) or (CDMA) even though carriers are divided on whether to use (LTE) or WiMAX. ITU standards claim that 4G network should allow exchange of data at 100 Mbit/sec whereas 3G’s speeds can be as low as 3.84 Mbit/sec. As expected 4G is faster than all previous generations. Technologies that enhance coverage like Femtocell  and  Picocell  are being developed to support 4G technology. LTE (Long-term-evolution) –It use s additional spectrum and multiplexing enhancing speeds which are10 times faster than 3G.The lag time has also reduced delay increasing the responsiveness of buffering. It is known for its high quality Voice-over-IP (VoIP).It is believed that songs can be downloaded within 4 seconds and photos uploaded in 6 seconds. Most of the smart phones support 4G LTE and it is available in more than 175 cities. WiFi WiFi provides wireless connectivity. It uses 802.11 radio technologies providing a fast and secure

Health Care Ethics Essay Example | Topics and Well Written Essays - 2000 words

Health Care Ethics - Essay Example McWay (2010) argues that it is the sole responsibility of the health practitioners to ensure that all manner of information that relates to the patients’ background information is concealed. Studies indicate that maintaining confidentiality is one of the best antidotes towards a successful healing process for the client. This is in relation to the fact that, clients feel completely relaxed and secure while disclosing information that relates to their medical predicaments. In cases where clients have had nasty experiences with nurses or any other health practitioners, who disclose their medical conditions, such patients were recorded to conceal crucial information, that would otherwise contribute a great mile towards their healing process. This is an interpretation of great tasks that, health practitioners have to undertake in an attempt not only to safeguard their jobs but also, to make patients’ healing process trouble-free. This essay shall highlight the importance of safeguarding patients’ information by the health practitioners. The essay shall also attempt to undertake a study on the ethical and legal implications of breaching the terms and conditions of health care ethics, that works on the basis of safeguard of patient’s information. In his work, he continues to argue that, if there arises a need for disclosure of information on the patients’ medical history, the patient has the right to be aware of the kind of information being portrayed to any other parties. Once patients feel comfortable, studies indicate that majority tend to disclose information, which ultimately leads to quick and certain medication by the medical practitioners. Disclosure and maintenance of patients’ medical background information, as health care ethics, involves protection and impositions by law. Harman (2006) indicates, that a great percentage of health practitioners are aware of the fact, that patients have a right to file lawsuits in case they feel that, their rights are infringed by medical physicians. In the context of revealing information, other than committing suicide by the client, patients have a right to demand explanations in regard to infringing on their privacy in other contexts. Analysts believe that in such instances, there is no exception; the health practitioner has to compensate the patient or offer tangible explanations on the reasons behind their actions. However, studies indicate that in such cases, patients end up taking the case. This is an interpretation of the weightiness of this health care ethics. At times, health practitioners are at a risk of losing their jobs over the disclosure of patients’ information, especially in cases where health practitioners have no tangible evidence of their actions. There have been numerous arguments on the protection of patients’ information as legally binding.

Cellular Network and Smartphone Application Security Research Paper

Cellular Network and Smartphone Application Security - Research Paper Example Numerous applications present in smart phones have raised new security questions. Security is a prime requirement for users today and therefore users should be knowledgeable about their vulnerability to attacks. Types of Cellular Networks 2G Stands for second generation wireless telephone technology it’s known as Personal Communications Service, or PCS, in the United States. 2G technologies can be broadly divided into  TDMA-based, FDMA-based and  CDMA-based standards. Compared to previous 1G networks that were analogue, 2G offered digital encryption and started the data service for cell phones including text messages. Digital signals allowed effective data compression and multiplexing while reducing the emission of radio power. Enhanced security decreased the incidences of frauds. 2G is also a cell phone network protocol .Their features included voice mail, caller ID, Conference calling and simple web applications like web browsing and email. Some modifications in 2G led t o the evolution of 2.5G and 2.75G that account for the transition to 3G. 2.5G has a circuit switch domain and included MMS technology along with GPRS. 2.75G technology enables improved data transmission rates by virtue of being an extension on top of standard GSM hence performed better than its predecessors 2G and 2.5G. 3G Third generation succeeded the GSM standards. It provided great speed to browse through WebPages, play 3D games, download or stream full motion music videos. Verizon Wireless was the first to introduce 3G services in 2005.3G was accompanied by increase bandwidth, and greater support for diverse applications by the inclusion of packet-switched data with spectral efficiency at greater speeds. There are two 3G families 3GPP and 3GPP2. 3GPP was formed to foster deployment of 3G networks that came from GSM. Deployment GPRS and EDGE began in 2000 and 2003 respectively. These technologies are defined by IMT-2000.IMT2000 stands for International mobile telecommunications while 2000 means it was launched in 2000 had data rates of 2000 Kbp and frequency range of 2000 MHz. 3GPP2 was introduced to help operators using CDMA2000 to move to 3G. 3.5G was introduced with cable speeds and its added features include faster browsing of graphic intensive site and on demand videos.    4G Fourth generation refers to fourth-generation wireless that overtakes the 3G technology. What really constitutes 4G is not yet defined but 4G networks are distinguished by their use of orthogonal frequency-division multiplexing (OFDM) rather than (TDMA) or (CDMA) even though carriers are divided on whether to use (LTE) or WiMAX. ITU standards claim that 4G network should allow exchange of data at 100 Mbit/sec whereas 3G’s speeds can be as low as 3.84 Mbit/sec. As expected 4G is faster than all previous generations. Technologies that enhance coverage like Femtocell  and  Picocell  are being developed to support 4G technology. LTE (Long-term-evolution) –It use s additional spectrum and multiplexing enhancing speeds which are10 times faster than 3G.The lag time has also reduced delay increasing the responsiveness of buffering. It is known for its high quality Voice-over-IP (VoIP).It is believed that songs can be downloaded within 4 seconds and photos uploaded in 6 seconds. Most of the smart phones support 4G LTE and it is available in more than 175 cities. WiFi WiFi provides wireless connectivity. It uses 802.11 radio technologies providing a fast and secure

Correlation and Association Research Paper Example | Topics and Well Written Essays - 250 words

Correlation and Association - Research Paper Example On the other hand, the correlation coefficient measures the strength and direction of a relationship by utilizing the geometric relationship of the dependent variable Y with the independent variable X. It is defined as â€Å"the measure of association between two interval variables† (Willnat, Manheim and Rich, 2011), also known as the Pearson product-moment correlation. This coefficient predicts the values of Y according to that of the corresponding values of X. Because of its higher accuracy and efficiency in predicting values of association between variables, the correlation coefficient is still reliable even when the samples to be used in the test vary in size. Since the coefficient of association relies mainly on a specific sample size on guessing the measure of association instead of the whole population, the test for statistical significance is stronger using the correlation coefficient. The latter can accurately predict the association between variables based on any subgroups of a population, hence making it a reliable tool in any given statistical data

Effect of Macroeconomic on Stock Return

Effect of Macroeconomic on Stock Return This research paper is conducted to measure and analyze the effect of macroeconomic on stock return of industrial product sector as compared to performance of Kuala Lumpur Composite Index. Several variables will be used to identify the relationship between the dependant variable which are three pre-specified macroeconomic variables the term structure of recession, interest rate, exchange rate and stock price movement that might give impact to the independent variable which is listed stock of industrial product sectors components in Kuala Lumpur Composite Index. Holding Period Return method will be used to measure the impact dependent variables to independent variable in this research. Secondary data will be used for this research paper, which are about 50 companies in industrial product sectors components that listed in Kuala Lumpur Composite Index; will be acknowledged as the sample for the previous year period from 2005 until 2009 to measure the performance of the sector in economi c condition during the period. It is expected that during the period, the industrial sectors performance that listed in Bursa Malaysia maybe will be affected by the economic condition during the period which will give impact on their stock return. CHAPTER 1 INTRODUCTION 1.0 INTRODUCTION Macroeconomic and stock prices are difficult to predict most of the times. These changes it appears that reflect the shifting demand for that stock or changing facts that it because of expectations of a companys profitability or some of government policy that effect on stock. Therefore, investors speculate how stock are determined most of them will look for to inexpensive share or expensive share with low price earning. Shares in most large established corporations are listed on organized exchanges like the Bursa Malaysia or Shanghai Stock Exchange. Every time a stock is sold, the exchange records the price at which it changes hands. If, a few seconds or minutes later, another trade takes place, the price at which that trade is made becomes the new market price, and so on. Organized exchanges like the Bursa Malaysia will occasionally suspend trading in a stock if the price is excessively volatile and also must legalize trade according their regulation, if there is a severe difference between supply and demand or if they suspect that insiders are intentionally manipulating a stocks price. But in ordinary circumstances, nobody is on purpose to control price. The market price of a stock is basically the price at which a keen buyer and seller agree to trade. Price is volatile when the enormous volumes of stock traders are made awake of professional traders who buy and sell shares each and every one day long. Since these traders do not grab stocks over the long pull, they are not terribly interested in such long-term considerations as a companys profitability or the value of its assets. Or rather, they are interested in such factors mostly trusty as news that would affect a companys long-term prospects might cause other traders to buy the stock, causing its price to raise. If traders believe that others will buy shares, then he/she will buy as well, hoping to sell when the price rises. If others believe the same thing, then the wave of buying pressure will, in fact, cause the price to rise. This trend will continue forever. When we look back to the famous economist John Maynard Keynes which has revealed the economic principle had compared the stock market to a competition then popular in British tabloids, in which rival had to look at photos and choose the faces that other contestants would choose as the prettiest. Each contestant had to look for photos â€Å"likeliest to catch the imagination of the other competitors, all of whom be looking at the difficulty from the same point of observation. similarly, stock traders try to speculation which stocks other traders will buy. The successful trader is the one who anticipates and outfoxes the market, buying prior to a stocks price rises and selling before it falls. 1.0.1 Screening criteria of KLCI Investor can only invest in stocks through a stock exchange, an organized marketplace where stocks are bought and sold under strict rules, regulations and guidelines. KLCI has over 30 listed companies offering a wide range of investment choices to local and global investors. Companies are either listed on Bursa Malaysia Securities Main Market or ACE Market. The Stock Market was created by companies wishing to raise capital for their business. When someone says they have a listed company they indicate listed on Bursa Malaysia. All companies need cash to take advantage of growth opportunities. Many start-up companies however find themselves short of capital to fund expansion. One way to acquire this cash is to publicly float the company. This involves selling part of the company to private individual and institutional investors who are then able to freely exchange these stocks on an open market Most huge matter regarding to the criterias are, high market capitalization on stock itself, it reflects how much share have been issues and its price per share. Blue chip company is resistance to weak market and it has permanently growth for example nestle it has stable growth in term of profit and cash flow. 1.0.2 History of stock Market The Kuala Lumpur Stock Exchange which was incorporated on December 14, 1976 as a company limited by guarantee took over the operations of KLSEB in the same year. The Kuala Lumpur Stock Exchange Berhad was demutualized pursuant to the Demutualization Act and converted into a public company limited by shares on January 5, 2007. Upon the conversion, the organization vested and transferred the securities exchange business to a new wholly-owned subsidiary, Bursa Securities, and became an exchange holding company and were renamed Bursa Malaysia Berhad on April 14, 2007. On 18 March 2005, Bursa Malaysia made its first appearance on the Main Board of Bursa Malaysia Securities Berhad. On 6 July 2009, the Composite Index has been replaced by FTSE Bursa Malaysia KLCI index which reflect the top 30 companies in the exchange. On 4 August 2009, the exchange has combined the main board and the second board into a single market which is called the Main Market. Mesdaq is also renamed into ACE market which provides lower listing requirements. 1.1 BACKGROUND OF STUDY Every time a share in, say, nestle is traded for example, the new price is used to revalue all outstanding shares-just as the value of your home appreciates when the house down the block sells for more than a similar house sold last week. But the value of your home wouldnt be so high if every house on your block were suddenly put up for sale. Similarly, if all ten billion outstanding shares even a small fraction of them-were put up for sale, they wouldnt fetch anywhere near the current market price. (Pirie and Smith, 2003) have say that relationships between accounting information, book values and share prices have significant implications for share prices in Singapore. Foreign exchange rate and interest rate risks are important financial and economic factors affecting the value of common stocks. Research by (King and Wadhwani, 1990) found that the volatility transfer hypothesis suggests that random shocks can induce higher volatility in financial markets and because of contagion effects which are highest in more volatile markets, investors may look abroad to invest in alternative financial assets. This study was aimed to point out whether the stock price behaviors and macroeconomic variables such as foreign exchange rate and interest rate is reflected in listed company stock return in the KLCI or not. Because one of them is accounting factor and other are economic factor. 1.2 PROBLEM STATEMENT The problem studied in this research is about the movement of the stock market and selected individual stock prices for investors usage. Caution should also be exercised in interpreting their results as the period of study includes the 2008 financial crises. It is possible that the severity of the crisis has influenced the statistical results. These papers empirically compares and see the share price of the companies before, during and after the recession and it covers only two macroeconomic factor that have give some effect to the stock return. During this period we will see the flow of the price movement in the market by using fifthly (50) listed company in property sector. Previous studies on stock market by Deshmukh et al (1983) banks can affect their exposure to interest rate and foreign exchange rate changes when they act as financial intermediaries for their clients. As such, their role as financial intermediaries can affect the sensitivity of investor assets and liabilities to interest rate and foreign exchange rate changes 1.3 RESEARCH QUESTION This research is conducted to inquire: 1.3.1 If there any changes of stock return on listed KLCI industrial company effect of macroeconomic? 1.3.2 If there any changes of stock return on listed KLCI industrial company effect of volatile market share price? 1.3.3 Which investment could offer better stock return to investor if using Holding Period Return? 1.4 RESEARCH OBJECTIVES This research is conducted to determine: 1.4.1 Macroeconomic factor have give impact to the stock return. 1.4.2 Changes of share price have give impact to the stock return. 1.4.3 The investment that could offer better performance using Holding Period Return. 1.5 SIGNIFICANCE OF STUDY This research is an observed study upon the macroeconomic factors and changes of stock price that give impact to the stock return of industrial product listed in KLCI. The study is significance for researcher, government and investors. Researchers can be benefit from this study by the information and acknowledge they from the previous to the current and future trend of movement either macroeconomic factors and changes of stock price that give impact to the stock return. As for the government, they can assist in organizing and stabilizing the economy to make the market will always gain some profit to the investors in attract more investment to come to Malaysia. Investors will gain benefit by knowing the current condition of Malaysia stock market as well as the shares before they can invest their pool of money in Malaysia especially in the industrial company. 1.6 SCOPE OF STUDY Macroeconomic and share price is the environment in which all firms operate. The ability to forecast the macroeconomic and share price can translate into spectacular investment performance. Some of the key economic variables are inflation, interest rate and exchange rate. In economics, a recession is a business cycle contraction, a general slowdown in economic activity over a period of time. During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes, business profits and inflation all fall during recessions; while bankruptcies and the unemployment rate rise. Recessions are generally believed to be caused by a widespread drop in spending. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation. High interest rates reduce the present value of future cash flow, thereby reducing the attractiveness of investment opportunities. For these reason, real interest rate are the key determinants of business investment expenditures because sensitive to interest rate affect to interest payment. The foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world. Some of the participants in this market are simply seeking to exchange a foreign currency for their own, like multinational corporations which must pay wages and other expenses in different nations than they sell products in. However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates, much like others would speculate on movements of stock prices. Currency traders try to take advantage of even small fluctuations in exchange rates. In the foreign exchange market there is little or no inside information. Exchange rate fluctuations are usually caused by actual monetary flows as well as anticipations on global macroeconomic conditions. Significant news is released publicly so, at least in theory, everyone in the world receives the same news at the same time. This study takes place in the subsistence of macroeconomic and changes of stock price in Malaysia as its field is the one to be explored. Moreover 50 listed companies were acknowledged as the sample for the previous five year period. The data of this research will be obtained from DataStream. 1.7 LIMITATION OF STUDY There are several drawbacks in pursuing this research. It includes: 1.7.1 Scope of study The research reference is restricted in the scope of Malaysia due to the field of study. As we know, Malaysia is an emerging country, thus the performance is still not matured compared with the developed countries, like the United States. 1.7.2 Period of the study This study is conducted by using the data from 2005 to 2009. Approximately 50 form 100 companies that listed in Bursa Malaysia, but not all the companies data was provided in that certain period. This constraint is affecting the calculation of portfolio performance. The length of the study also affected this study indirectly. This study used to use five years period of time. The result for five years study would be different if this study managed to use the longer period of time. 1.7.3 Secondary data In this study, we used the secondary data gathered from DataStream, Bursa Malaysia and the other articles references. Some of the data were not up to date to be the good references. For example, when we referred to Bursa Malaysia, some of the data is not currently in use and in DataStream; the problem was some of the data was not available (N/A). It became a limitation to the study because we cannot get the accurate result. 1.8 DEFINITION OF TERMS 1.8.1 KLCI Kuala Lumpur Composite Index or Bursa Malaysia is place where all sector company list their stock to get capital gain from investor that buy their stock. 1.9 SUMMARY There are many reason why this research been conduct but to know the real effect to the stock return many variable been use to meet the objective. For example interest rate, exchange rate, recession and stock price movement is the variables that have effect to the company or investor stock return. CHAPTER 2 LITERATURE REVIEW 2.0 INTRODUCTION Macroeconomics is a branch of economics that deals with the performance, structure, behavior and decision-making of the entire economy, be that a national, regional, or the global economy. Along with microeconomics, macroeconomics is one of the two most general fields in economics. Researcher study aggregated indicators such as GDP, unemployment rates, and price indices to understand how the whole economy functions. Macroeconomists develop models that explain the relationship between such factors as national income, output, consumption, unemployment, inflation, savings, investment, international trade and international finance. In contrast, microeconomics is primarily focused on the actions of individual agents, such as firms and consumers, and how their behavior determines prices and quantities in specific markets. 2.1 GENERAL LITERATURE REVIEW 2.1.1 MACROECONOMICS The effect of macroeconomic fundamentals on stock market volatility has generated a lot of interest. Research by Liljeblom and Stenius (1997) find that it is argued that if the value of corporate equity on the whole depends on the health of the economy, then uncertainty in macroeconomic conditions would affect volatility in stock returns assuming consistent discount rates. Studies have also shown that stock market volatility is driven by uncertainty in macroeconomic fundamentals Fama (1981, 1990), Fama and French (1989) and Chen et al. (1986). It is argued that there is an inverse relationship between interest rates and stock returns. Thorbecke (1997) and Smal and de Jager (2001) observe that a reduction in interest rates induces an injection of liquidity into the economy. This extra liquidity could be channeled to the stock market, driving up the demand and prices of stocks. Patelis (1997) notes that interest rate changes are helpful in predicting stock market returns over a long period. Thus, there is evidence to conclude that interest rate policies should also target stock market price movements. Goodfriend (2003) also notes that, since there is no stable correlation between stock-price returns and short-term interest rates, it would be difficult for interest rates to target stock-price changes appropriately. Bernanke and Kuttner (2003) also note that stock markets do not react much to interest rate changes. Throughout the years, the global economy has been transformed from a simplified financial architecture to a complex intertwined set of financial systems. From the Bretton Woods system to the advent of flexible exchange rate systems in 1973 until the present days, the environment of international markets had experienced substantial changes in the form of excessive variability in exchange rates, greater capital mobility and punctuated by a series of financial crises worldwide in recent years. Meese (1990) who studied the currency fluctuations in the post-Bretton Woods era found that the changes of macroeconomic variables alone could not explain major currencies movements. MacDonald and Taylor (1994) however noticed relationships between macroeconomic variables and exchange rate. A recent study by Rapach and Wohar (2002) meanwhile produced mixed results for the monetary model of exchange rate determination. In December, 2007 economic recession that began in the United States spread much of the industrialized world, and has caused a uncertainty of economic activity. This global recession has been taking place in an economic environment characterized by various imbalances and was sparked by the outbreak of the financial crisis of 2007–2009. However, Mitchell and Netter (1989) argue that the three-day decline preceding the crash was a large enough decline that it became the fundamental news and that shook the market. The theoretical model of Jacklin et al. (1992) (among others) shows how a surprise significant drop in the market could have provided information to the market that would directly lead to a crash. Among all macroeconomic factor stock price movement is also effect by changes in economic environments. CRR (1986) results are tested to see whether the factors priced in the US market are applicable in Turkey stock market, with adding new variable unemployment rate, because we expected a relation with the stock returns. 2.2 THEORETICAL FRAMEWORK Four factors are selected to test the relationships of these factors and stock return. The factors are recession, interest rate, exchange rate and stock price movement. 2.2.1 Recession Recession is one of the macroeconomic factors that effect to the listed company stock return in KLCI. Some of the researcher say that recession have give negative impact to stock return but some researcher found that recession is no relation with stock price. CRR (1986) shown that the tested macroeconomic variables do not affect the share price in the UK stock market. 2.2.2 Exchange Rate. Exchange rate is most been use by investor to do transaction to buy stock in market, because of that exchange rate is consider one of the factors that effect to the stock return. Movements of exchange rate are always a concern for various parties. In international currency markets, exchange rate plays a significant role and the variability of exchange rate, whichever way it sways, tends to give a significant impact on the economy. 2.2.3 Interest Rate. Interest rate also one of the factor that give impact to the stock return because some researcher say that interest rate give negative impact to the stock return. Anthony Kyereboah-Coleman and Kwame F. Agyire-Tettey (2008) mention that there negative real interest rates for extended period. 2.2.4 Stock Price Movement. Stock price move is most related to the stock return because every time changes in stock price effect to the outcome of stock return for investor investment but some of the researcher say that there is no effect on stock return. For example Martinez and Rubio (1989) tested the Spanish market return and they found that there were no significant pricing relationship between stock returns and the macroeconomic variables. 2.3 SUMMARY Literature review is the part where it shows where it show whether the variable will be strongly acceptance or not. From the previous study that has been done it has shown that, most of the variable has its own importance not only in affecting some issue but also in solving it. This literature reviews shows the effect of this study on the stock return as the dependent. It also has many researches done with the difference result. CHAPTER 3 METHODOLOGY AND DATA 3.0 INTRODUCTION This chapter discusses the research methodology used in the study. Methodology is one the important method that had been use to test the hypothesis on this study in order to get the finding at the end of the study. Research design and research methodology is most of the important part for this study since it provide a lot of useful information on how to get the data, how to conduct the survey and provide additional information in order to get better result and finding for this study. This chapter explains how the data for conduct the study is collected and carried out. It also explain on the method that is going to be use to get the finding at the end of the study. It also focus on the data sources, sample involved in the study and the methodology to be use in this study. In this study the variables that had been used was economic recession, exchange rate, interest rate and stock price which collected on the monthly basis for the period of 5 years ended in December 2005 until December 2009. This study consists of 50-industrial product firm and using time series period from 2005 to 2009. Focus for this study was more on the Regression Model analysis to test the finding. Since this study was investigate and identify the relationship between macroeconomic and stock price movement to profitability so using the regression data analysis model had done it for the past 5 years.. There are several key items such as data collection method, sampling frame, sources of data, variables and measurement, research design, theoretical framework, hypothesis statement, data analysis, and treatment which will clarify in detail in this chapter. 3.1 DATA COLLECTION The price indices at monthly frequency are collected for sectors in Bursa Malaysia: industrial product sector. All the closing prices of these sector indices sourced from the secondary data from Thomson Financial DataStream over five-year period from year 2005 to year 2009 (5 years). Meanwhile, for the independent variables of recession rate, exchange rate, interest rate and stock price will be extracted from Thomson Financial DataStream and Bank Negara Malaysia official release. 3.2 SAMPLING FRAME To secure an acceptable result, this study decided to use 50 samples out of all companies that went public and were listed on the second board within year 2005 to 2009. The decision to use this sample was due to the inability to collect more data due to the time constrain during research. Furthermore, this study wants to see the stock return for investor in industrial product sector. And at the same time, it also wants to observe the relationship between recession rate, exchange rate, interest rate and stock price. 3.3 SOURCES OF DATA The selected 50 stock sample being chose from the main board of BM KLCI .The data are collected on monthly actual stock price was collected from the Thomson Financial DataStream, which is provided the information about the companies financial situations over years. Each stock is already being issued from the companies issued until today. These samples were represented by 50 companies from the industrial product sector. 3.4 VARIABLES AND MEASUREMENT There are two types variables has been used in this study there are; the dependent and the independent variables. 3.4.1 Dependent Variables The dependent variable for this study is stock return of each company industrial product sector. 3.4.2 Independent Variables The independent variables will be measured by recession rate, exchange rate, interest rate and stock price. 3.5 RESEARCH DESIGN This research is designed to see the relationship between dependent variable with independent variables. In this study, it analysis in hypotheses testing that will explain the certain significant correlations between KLIBOR and Treasury Bills rates and the stock performance 3.5.1 Purpose of the Study The purpose of this study is to determine the relationship between all the dependent and independent variable. By using descriptive study can know relationship between both of variable. Descriptive study will be able to describe the characteristics of the variable of the situation. By using data from DataStream would be able to compare monthly return for each of the companies. Besides that, this study also can help investor to make decision making and offer the idea for future problem and research. 3.5.2 Types of Investigation The study involved the correlation study types of investigation. The study involves determining the important variable associated with the situation. The important variable is between the recession rate, exchange rate, interest rate and stock price. Correlation studies done in the study are called field studies. This studies will conducted to establish cause and effect to the stock return using the same measurement in the market are called field experiments. The experiment done to establish the cause and affect of the studies so that can make corrective action to make any decision in the investment. 3.5.3 Unit of Analysis In this study, the unit of analysis is group of company and also industry. The group of company that involve fifthly (50) of the properties companies that has been selected in the main board of BM KLCI. The companies selected depend on the year of the companies is establish. The industry that has been selected is recession rate, exchange rate, interest rate and stock price will be compare with the return of each companies return during 5 years. 3.5.4 Time Horizon This study will be use cross-sectional studies to make the research. A study will be done with the monthly data are gathered over five years (5) from year 2005 to 2009, in order to get the result about these studies. 3.6 THEORETICAL FRAMEWORK Research studies indicate that relationship between KLIBOR and Treasury Bills rates and stock performance. Dependent variable: Effect of company Stock Return Independent variables: Recession rate, Exchange rate, Interest rate and Stock Price Movement. Figure 1: Schematic Diagram (Relationship Diagram) Independent Dependent Company Stock return listed in KLCI Stock price movement Interest rate Exchange rate Recession rate According to the schematic diagram above, it can be explaining relationship between stock return with Recession rate, Exchange rate, Interest rate and Stock Price Movement. 3.7 DATA ANALYSIS AND TREATMENT Multiple Linear Regression Model are the statistical tools that been use in this study. This model analysis examine about simultaneous effect between Recession rate, Exchange rate, Interest rate and Stock Price Movement (independent variable) Stock Return (dependent variable) which variable give biggest effect on the dependent variable. Where; Y = Dependent variable which represent Actual Stock Performance = The constant number of equation = Coefficient Beta value = Independent variable which represent Recession rate = Independent variable which represent Exchange rate = Independent variable which represent Interest rate = Error r = (EV – BV) + DIV X 100 BVStock price movement will be measure in Holding Period Return to determine the effect on stock return Where; r = Represent Rate of return EV = Represent Ending Value or end of stock price BV = Represent Beginning Value or beginning of stock price DIV = Represent income or dividend of company 3.8 HYPOTHESIS STATEMENT Some changes will affect the each stock return to the companies. By changing the stock price will affect the return to the companies its self its might be go higher or lower than what it expected will be. To analysis and to test whether this is applicable to the Malaysian Stock Market, the hypothesis has been developing. Hypothesis 1 H0 = Company stock return in industrial product sector outperform than KLCI H1 = Company stock return in industrial product sector underperform than KLCI Hypothesis 2 H0 = Macroeconomic factor does has significant impact in stock return of each company in industrial product sector in KLCI H1 = Macroeconomic factor does not has significant impact in stock return of each industrial product sector in KLCI Hypothesis 3 H0 = Stock price movement does has significant impact in stock return of each industrial product sector in KLCI H1 = Stock price movement does not has significant impact in stock return of each industrial product sector in KLCI SUMMARY This study will be measure according the objective that has been established in earlier chapter. This research can be use to help investors to make the investment decision. Its because this studies focuses on the data from year 2005 until year2009, it will give better overview of each of the properties company in order to take any corrective action in facing the problem and also overcoming the problem in the current situation to make an investment decision. Effect of Macroeconomic on Stock Return Effect of Macroeconomic on Stock Return This research paper is conducted to measure and analyze the effect of macroeconomic on stock return of industrial product sector as compared to performance of Kuala Lumpur Composite Index. Several variables will be used to identify the relationship between the dependant variable which are three pre-specified macroeconomic variables the term structure of recession, interest rate, exchange rate and stock price movement that might give impact to the independent variable which is listed stock of industrial product sectors components in Kuala Lumpur Composite Index. Holding Period Return method will be used to measure the impact dependent variables to independent variable in this research. Secondary data will be used for this research paper, which are about 50 companies in industrial product sectors components that listed in Kuala Lumpur Composite Index; will be acknowledged as the sample for the previous year period from 2005 until 2009 to measure the performance of the sector in economi c condition during the period. It is expected that during the period, the industrial sectors performance that listed in Bursa Malaysia maybe will be affected by the economic condition during the period which will give impact on their stock return. CHAPTER 1 INTRODUCTION 1.0 INTRODUCTION Macroeconomic and stock prices are difficult to predict most of the times. These changes it appears that reflect the shifting demand for that stock or changing facts that it because of expectations of a companys profitability or some of government policy that effect on stock. Therefore, investors speculate how stock are determined most of them will look for to inexpensive share or expensive share with low price earning. Shares in most large established corporations are listed on organized exchanges like the Bursa Malaysia or Shanghai Stock Exchange. Every time a stock is sold, the exchange records the price at which it changes hands. If, a few seconds or minutes later, another trade takes place, the price at which that trade is made becomes the new market price, and so on. Organized exchanges like the Bursa Malaysia will occasionally suspend trading in a stock if the price is excessively volatile and also must legalize trade according their regulation, if there is a severe difference between supply and demand or if they suspect that insiders are intentionally manipulating a stocks price. But in ordinary circumstances, nobody is on purpose to control price. The market price of a stock is basically the price at which a keen buyer and seller agree to trade. Price is volatile when the enormous volumes of stock traders are made awake of professional traders who buy and sell shares each and every one day long. Since these traders do not grab stocks over the long pull, they are not terribly interested in such long-term considerations as a companys profitability or the value of its assets. Or rather, they are interested in such factors mostly trusty as news that would affect a companys long-term prospects might cause other traders to buy the stock, causing its price to raise. If traders believe that others will buy shares, then he/she will buy as well, hoping to sell when the price rises. If others believe the same thing, then the wave of buying pressure will, in fact, cause the price to rise. This trend will continue forever. When we look back to the famous economist John Maynard Keynes which has revealed the economic principle had compared the stock market to a competition then popular in British tabloids, in which rival had to look at photos and choose the faces that other contestants would choose as the prettiest. Each contestant had to look for photos â€Å"likeliest to catch the imagination of the other competitors, all of whom be looking at the difficulty from the same point of observation. similarly, stock traders try to speculation which stocks other traders will buy. The successful trader is the one who anticipates and outfoxes the market, buying prior to a stocks price rises and selling before it falls. 1.0.1 Screening criteria of KLCI Investor can only invest in stocks through a stock exchange, an organized marketplace where stocks are bought and sold under strict rules, regulations and guidelines. KLCI has over 30 listed companies offering a wide range of investment choices to local and global investors. Companies are either listed on Bursa Malaysia Securities Main Market or ACE Market. The Stock Market was created by companies wishing to raise capital for their business. When someone says they have a listed company they indicate listed on Bursa Malaysia. All companies need cash to take advantage of growth opportunities. Many start-up companies however find themselves short of capital to fund expansion. One way to acquire this cash is to publicly float the company. This involves selling part of the company to private individual and institutional investors who are then able to freely exchange these stocks on an open market Most huge matter regarding to the criterias are, high market capitalization on stock itself, it reflects how much share have been issues and its price per share. Blue chip company is resistance to weak market and it has permanently growth for example nestle it has stable growth in term of profit and cash flow. 1.0.2 History of stock Market The Kuala Lumpur Stock Exchange which was incorporated on December 14, 1976 as a company limited by guarantee took over the operations of KLSEB in the same year. The Kuala Lumpur Stock Exchange Berhad was demutualized pursuant to the Demutualization Act and converted into a public company limited by shares on January 5, 2007. Upon the conversion, the organization vested and transferred the securities exchange business to a new wholly-owned subsidiary, Bursa Securities, and became an exchange holding company and were renamed Bursa Malaysia Berhad on April 14, 2007. On 18 March 2005, Bursa Malaysia made its first appearance on the Main Board of Bursa Malaysia Securities Berhad. On 6 July 2009, the Composite Index has been replaced by FTSE Bursa Malaysia KLCI index which reflect the top 30 companies in the exchange. On 4 August 2009, the exchange has combined the main board and the second board into a single market which is called the Main Market. Mesdaq is also renamed into ACE market which provides lower listing requirements. 1.1 BACKGROUND OF STUDY Every time a share in, say, nestle is traded for example, the new price is used to revalue all outstanding shares-just as the value of your home appreciates when the house down the block sells for more than a similar house sold last week. But the value of your home wouldnt be so high if every house on your block were suddenly put up for sale. Similarly, if all ten billion outstanding shares even a small fraction of them-were put up for sale, they wouldnt fetch anywhere near the current market price. (Pirie and Smith, 2003) have say that relationships between accounting information, book values and share prices have significant implications for share prices in Singapore. Foreign exchange rate and interest rate risks are important financial and economic factors affecting the value of common stocks. Research by (King and Wadhwani, 1990) found that the volatility transfer hypothesis suggests that random shocks can induce higher volatility in financial markets and because of contagion effects which are highest in more volatile markets, investors may look abroad to invest in alternative financial assets. This study was aimed to point out whether the stock price behaviors and macroeconomic variables such as foreign exchange rate and interest rate is reflected in listed company stock return in the KLCI or not. Because one of them is accounting factor and other are economic factor. 1.2 PROBLEM STATEMENT The problem studied in this research is about the movement of the stock market and selected individual stock prices for investors usage. Caution should also be exercised in interpreting their results as the period of study includes the 2008 financial crises. It is possible that the severity of the crisis has influenced the statistical results. These papers empirically compares and see the share price of the companies before, during and after the recession and it covers only two macroeconomic factor that have give some effect to the stock return. During this period we will see the flow of the price movement in the market by using fifthly (50) listed company in property sector. Previous studies on stock market by Deshmukh et al (1983) banks can affect their exposure to interest rate and foreign exchange rate changes when they act as financial intermediaries for their clients. As such, their role as financial intermediaries can affect the sensitivity of investor assets and liabilities to interest rate and foreign exchange rate changes 1.3 RESEARCH QUESTION This research is conducted to inquire: 1.3.1 If there any changes of stock return on listed KLCI industrial company effect of macroeconomic? 1.3.2 If there any changes of stock return on listed KLCI industrial company effect of volatile market share price? 1.3.3 Which investment could offer better stock return to investor if using Holding Period Return? 1.4 RESEARCH OBJECTIVES This research is conducted to determine: 1.4.1 Macroeconomic factor have give impact to the stock return. 1.4.2 Changes of share price have give impact to the stock return. 1.4.3 The investment that could offer better performance using Holding Period Return. 1.5 SIGNIFICANCE OF STUDY This research is an observed study upon the macroeconomic factors and changes of stock price that give impact to the stock return of industrial product listed in KLCI. The study is significance for researcher, government and investors. Researchers can be benefit from this study by the information and acknowledge they from the previous to the current and future trend of movement either macroeconomic factors and changes of stock price that give impact to the stock return. As for the government, they can assist in organizing and stabilizing the economy to make the market will always gain some profit to the investors in attract more investment to come to Malaysia. Investors will gain benefit by knowing the current condition of Malaysia stock market as well as the shares before they can invest their pool of money in Malaysia especially in the industrial company. 1.6 SCOPE OF STUDY Macroeconomic and share price is the environment in which all firms operate. The ability to forecast the macroeconomic and share price can translate into spectacular investment performance. Some of the key economic variables are inflation, interest rate and exchange rate. In economics, a recession is a business cycle contraction, a general slowdown in economic activity over a period of time. During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes, business profits and inflation all fall during recessions; while bankruptcies and the unemployment rate rise. Recessions are generally believed to be caused by a widespread drop in spending. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation. High interest rates reduce the present value of future cash flow, thereby reducing the attractiveness of investment opportunities. For these reason, real interest rate are the key determinants of business investment expenditures because sensitive to interest rate affect to interest payment. The foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world. Some of the participants in this market are simply seeking to exchange a foreign currency for their own, like multinational corporations which must pay wages and other expenses in different nations than they sell products in. However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates, much like others would speculate on movements of stock prices. Currency traders try to take advantage of even small fluctuations in exchange rates. In the foreign exchange market there is little or no inside information. Exchange rate fluctuations are usually caused by actual monetary flows as well as anticipations on global macroeconomic conditions. Significant news is released publicly so, at least in theory, everyone in the world receives the same news at the same time. This study takes place in the subsistence of macroeconomic and changes of stock price in Malaysia as its field is the one to be explored. Moreover 50 listed companies were acknowledged as the sample for the previous five year period. The data of this research will be obtained from DataStream. 1.7 LIMITATION OF STUDY There are several drawbacks in pursuing this research. It includes: 1.7.1 Scope of study The research reference is restricted in the scope of Malaysia due to the field of study. As we know, Malaysia is an emerging country, thus the performance is still not matured compared with the developed countries, like the United States. 1.7.2 Period of the study This study is conducted by using the data from 2005 to 2009. Approximately 50 form 100 companies that listed in Bursa Malaysia, but not all the companies data was provided in that certain period. This constraint is affecting the calculation of portfolio performance. The length of the study also affected this study indirectly. This study used to use five years period of time. The result for five years study would be different if this study managed to use the longer period of time. 1.7.3 Secondary data In this study, we used the secondary data gathered from DataStream, Bursa Malaysia and the other articles references. Some of the data were not up to date to be the good references. For example, when we referred to Bursa Malaysia, some of the data is not currently in use and in DataStream; the problem was some of the data was not available (N/A). It became a limitation to the study because we cannot get the accurate result. 1.8 DEFINITION OF TERMS 1.8.1 KLCI Kuala Lumpur Composite Index or Bursa Malaysia is place where all sector company list their stock to get capital gain from investor that buy their stock. 1.9 SUMMARY There are many reason why this research been conduct but to know the real effect to the stock return many variable been use to meet the objective. For example interest rate, exchange rate, recession and stock price movement is the variables that have effect to the company or investor stock return. CHAPTER 2 LITERATURE REVIEW 2.0 INTRODUCTION Macroeconomics is a branch of economics that deals with the performance, structure, behavior and decision-making of the entire economy, be that a national, regional, or the global economy. Along with microeconomics, macroeconomics is one of the two most general fields in economics. Researcher study aggregated indicators such as GDP, unemployment rates, and price indices to understand how the whole economy functions. Macroeconomists develop models that explain the relationship between such factors as national income, output, consumption, unemployment, inflation, savings, investment, international trade and international finance. In contrast, microeconomics is primarily focused on the actions of individual agents, such as firms and consumers, and how their behavior determines prices and quantities in specific markets. 2.1 GENERAL LITERATURE REVIEW 2.1.1 MACROECONOMICS The effect of macroeconomic fundamentals on stock market volatility has generated a lot of interest. Research by Liljeblom and Stenius (1997) find that it is argued that if the value of corporate equity on the whole depends on the health of the economy, then uncertainty in macroeconomic conditions would affect volatility in stock returns assuming consistent discount rates. Studies have also shown that stock market volatility is driven by uncertainty in macroeconomic fundamentals Fama (1981, 1990), Fama and French (1989) and Chen et al. (1986). It is argued that there is an inverse relationship between interest rates and stock returns. Thorbecke (1997) and Smal and de Jager (2001) observe that a reduction in interest rates induces an injection of liquidity into the economy. This extra liquidity could be channeled to the stock market, driving up the demand and prices of stocks. Patelis (1997) notes that interest rate changes are helpful in predicting stock market returns over a long period. Thus, there is evidence to conclude that interest rate policies should also target stock market price movements. Goodfriend (2003) also notes that, since there is no stable correlation between stock-price returns and short-term interest rates, it would be difficult for interest rates to target stock-price changes appropriately. Bernanke and Kuttner (2003) also note that stock markets do not react much to interest rate changes. Throughout the years, the global economy has been transformed from a simplified financial architecture to a complex intertwined set of financial systems. From the Bretton Woods system to the advent of flexible exchange rate systems in 1973 until the present days, the environment of international markets had experienced substantial changes in the form of excessive variability in exchange rates, greater capital mobility and punctuated by a series of financial crises worldwide in recent years. Meese (1990) who studied the currency fluctuations in the post-Bretton Woods era found that the changes of macroeconomic variables alone could not explain major currencies movements. MacDonald and Taylor (1994) however noticed relationships between macroeconomic variables and exchange rate. A recent study by Rapach and Wohar (2002) meanwhile produced mixed results for the monetary model of exchange rate determination. In December, 2007 economic recession that began in the United States spread much of the industrialized world, and has caused a uncertainty of economic activity. This global recession has been taking place in an economic environment characterized by various imbalances and was sparked by the outbreak of the financial crisis of 2007–2009. However, Mitchell and Netter (1989) argue that the three-day decline preceding the crash was a large enough decline that it became the fundamental news and that shook the market. The theoretical model of Jacklin et al. (1992) (among others) shows how a surprise significant drop in the market could have provided information to the market that would directly lead to a crash. Among all macroeconomic factor stock price movement is also effect by changes in economic environments. CRR (1986) results are tested to see whether the factors priced in the US market are applicable in Turkey stock market, with adding new variable unemployment rate, because we expected a relation with the stock returns. 2.2 THEORETICAL FRAMEWORK Four factors are selected to test the relationships of these factors and stock return. The factors are recession, interest rate, exchange rate and stock price movement. 2.2.1 Recession Recession is one of the macroeconomic factors that effect to the listed company stock return in KLCI. Some of the researcher say that recession have give negative impact to stock return but some researcher found that recession is no relation with stock price. CRR (1986) shown that the tested macroeconomic variables do not affect the share price in the UK stock market. 2.2.2 Exchange Rate. Exchange rate is most been use by investor to do transaction to buy stock in market, because of that exchange rate is consider one of the factors that effect to the stock return. Movements of exchange rate are always a concern for various parties. In international currency markets, exchange rate plays a significant role and the variability of exchange rate, whichever way it sways, tends to give a significant impact on the economy. 2.2.3 Interest Rate. Interest rate also one of the factor that give impact to the stock return because some researcher say that interest rate give negative impact to the stock return. Anthony Kyereboah-Coleman and Kwame F. Agyire-Tettey (2008) mention that there negative real interest rates for extended period. 2.2.4 Stock Price Movement. Stock price move is most related to the stock return because every time changes in stock price effect to the outcome of stock return for investor investment but some of the researcher say that there is no effect on stock return. For example Martinez and Rubio (1989) tested the Spanish market return and they found that there were no significant pricing relationship between stock returns and the macroeconomic variables. 2.3 SUMMARY Literature review is the part where it shows where it show whether the variable will be strongly acceptance or not. From the previous study that has been done it has shown that, most of the variable has its own importance not only in affecting some issue but also in solving it. This literature reviews shows the effect of this study on the stock return as the dependent. It also has many researches done with the difference result. CHAPTER 3 METHODOLOGY AND DATA 3.0 INTRODUCTION This chapter discusses the research methodology used in the study. Methodology is one the important method that had been use to test the hypothesis on this study in order to get the finding at the end of the study. Research design and research methodology is most of the important part for this study since it provide a lot of useful information on how to get the data, how to conduct the survey and provide additional information in order to get better result and finding for this study. This chapter explains how the data for conduct the study is collected and carried out. It also explain on the method that is going to be use to get the finding at the end of the study. It also focus on the data sources, sample involved in the study and the methodology to be use in this study. In this study the variables that had been used was economic recession, exchange rate, interest rate and stock price which collected on the monthly basis for the period of 5 years ended in December 2005 until December 2009. This study consists of 50-industrial product firm and using time series period from 2005 to 2009. Focus for this study was more on the Regression Model analysis to test the finding. Since this study was investigate and identify the relationship between macroeconomic and stock price movement to profitability so using the regression data analysis model had done it for the past 5 years.. There are several key items such as data collection method, sampling frame, sources of data, variables and measurement, research design, theoretical framework, hypothesis statement, data analysis, and treatment which will clarify in detail in this chapter. 3.1 DATA COLLECTION The price indices at monthly frequency are collected for sectors in Bursa Malaysia: industrial product sector. All the closing prices of these sector indices sourced from the secondary data from Thomson Financial DataStream over five-year period from year 2005 to year 2009 (5 years). Meanwhile, for the independent variables of recession rate, exchange rate, interest rate and stock price will be extracted from Thomson Financial DataStream and Bank Negara Malaysia official release. 3.2 SAMPLING FRAME To secure an acceptable result, this study decided to use 50 samples out of all companies that went public and were listed on the second board within year 2005 to 2009. The decision to use this sample was due to the inability to collect more data due to the time constrain during research. Furthermore, this study wants to see the stock return for investor in industrial product sector. And at the same time, it also wants to observe the relationship between recession rate, exchange rate, interest rate and stock price. 3.3 SOURCES OF DATA The selected 50 stock sample being chose from the main board of BM KLCI .The data are collected on monthly actual stock price was collected from the Thomson Financial DataStream, which is provided the information about the companies financial situations over years. Each stock is already being issued from the companies issued until today. These samples were represented by 50 companies from the industrial product sector. 3.4 VARIABLES AND MEASUREMENT There are two types variables has been used in this study there are; the dependent and the independent variables. 3.4.1 Dependent Variables The dependent variable for this study is stock return of each company industrial product sector. 3.4.2 Independent Variables The independent variables will be measured by recession rate, exchange rate, interest rate and stock price. 3.5 RESEARCH DESIGN This research is designed to see the relationship between dependent variable with independent variables. In this study, it analysis in hypotheses testing that will explain the certain significant correlations between KLIBOR and Treasury Bills rates and the stock performance 3.5.1 Purpose of the Study The purpose of this study is to determine the relationship between all the dependent and independent variable. By using descriptive study can know relationship between both of variable. Descriptive study will be able to describe the characteristics of the variable of the situation. By using data from DataStream would be able to compare monthly return for each of the companies. Besides that, this study also can help investor to make decision making and offer the idea for future problem and research. 3.5.2 Types of Investigation The study involved the correlation study types of investigation. The study involves determining the important variable associated with the situation. The important variable is between the recession rate, exchange rate, interest rate and stock price. Correlation studies done in the study are called field studies. This studies will conducted to establish cause and effect to the stock return using the same measurement in the market are called field experiments. The experiment done to establish the cause and affect of the studies so that can make corrective action to make any decision in the investment. 3.5.3 Unit of Analysis In this study, the unit of analysis is group of company and also industry. The group of company that involve fifthly (50) of the properties companies that has been selected in the main board of BM KLCI. The companies selected depend on the year of the companies is establish. The industry that has been selected is recession rate, exchange rate, interest rate and stock price will be compare with the return of each companies return during 5 years. 3.5.4 Time Horizon This study will be use cross-sectional studies to make the research. A study will be done with the monthly data are gathered over five years (5) from year 2005 to 2009, in order to get the result about these studies. 3.6 THEORETICAL FRAMEWORK Research studies indicate that relationship between KLIBOR and Treasury Bills rates and stock performance. Dependent variable: Effect of company Stock Return Independent variables: Recession rate, Exchange rate, Interest rate and Stock Price Movement. Figure 1: Schematic Diagram (Relationship Diagram) Independent Dependent Company Stock return listed in KLCI Stock price movement Interest rate Exchange rate Recession rate According to the schematic diagram above, it can be explaining relationship between stock return with Recession rate, Exchange rate, Interest rate and Stock Price Movement. 3.7 DATA ANALYSIS AND TREATMENT Multiple Linear Regression Model are the statistical tools that been use in this study. This model analysis examine about simultaneous effect between Recession rate, Exchange rate, Interest rate and Stock Price Movement (independent variable) Stock Return (dependent variable) which variable give biggest effect on the dependent variable. Where; Y = Dependent variable which represent Actual Stock Performance = The constant number of equation = Coefficient Beta value = Independent variable which represent Recession rate = Independent variable which represent Exchange rate = Independent variable which represent Interest rate = Error r = (EV – BV) + DIV X 100 BVStock price movement will be measure in Holding Period Return to determine the effect on stock return Where; r = Represent Rate of return EV = Represent Ending Value or end of stock price BV = Represent Beginning Value or beginning of stock price DIV = Represent income or dividend of company 3.8 HYPOTHESIS STATEMENT Some changes will affect the each stock return to the companies. By changing the stock price will affect the return to the companies its self its might be go higher or lower than what it expected will be. To analysis and to test whether this is applicable to the Malaysian Stock Market, the hypothesis has been developing. Hypothesis 1 H0 = Company stock return in industrial product sector outperform than KLCI H1 = Company stock return in industrial product sector underperform than KLCI Hypothesis 2 H0 = Macroeconomic factor does has significant impact in stock return of each company in industrial product sector in KLCI H1 = Macroeconomic factor does not has significant impact in stock return of each industrial product sector in KLCI Hypothesis 3 H0 = Stock price movement does has significant impact in stock return of each industrial product sector in KLCI H1 = Stock price movement does not has significant impact in stock return of each industrial product sector in KLCI SUMMARY This study will be measure according the objective that has been established in earlier chapter. This research can be use to help investors to make the investment decision. Its because this studies focuses on the data from year 2005 until year2009, it will give better overview of each of the properties company in order to take any corrective action in facing the problem and also overcoming the problem in the current situation to make an investment decision.