Forecasting the Adoption of E-Books Essay Example for Free

Forecasting the Adoption of E-Books Essay Question 1 The size of the market for e-books in the long-run: 293. 7 million x 46. 7% x 8% = 10. 973 million (Total US population x percentage of US population reading literature x Percentage of traditional paper books purchased online in 2003) It will take 10 years to reach 95% penetration of the potential market. Question 2 I predict that the sale of the e-book when it first became available is 0. 751milion (pm) (Assumption: each innovator buy one book. ) Question 3 The long-run total adoption of e-books would be 10. 973 million. (Total US population x percentage of US population reading literature x Percentage of traditional paper books purchased online in 2003) Question 4 I do expect the market for e-books tend to be guided by imitators rather than innovators. According to the table above, I found that the weighted average for e-book of q (0. 0684) is larger than p (0. 2990). In addition, the word of mouth takes an important role in the adoption of e-books. The information about the e-book from the innovators contribute much to the adoption of e-books since people tend to hesitate to change their old reading habit. Question 5 S(t)=[p+(q/m)N(t-1)][m-N(t-1)] Year 1: [0. 0684+(0. 2990/10. 973) X (0)][10. 973-0] = 0. 751 million Year 2: [0. 0684+(0. 2990/10. 973) X (0. 751)][10. 973-0. 751] = 0. 908 million Year 3: [0. 0684+(0. 2990/10. 973) X (1. 659)][10. 973-1. 659] = 1. 059 million Year 4: [0. 0684+(0. 2990/10. 973) X (2. 717)][10. 973-2. 717] = 1. 176 million Year 5: [0. 0684+(0. 2990/10. 973) X (3. 893)][10. 973-3. 893] = 1. 235 million Question 6 The adoption of e-book will be very different from digital music obtained online. The adoption of e-books face more challenges when comparing to the adoption of digital music. To most of the listeners, there is not much difference in experience between listening to a song from an iPod and a CD player. Therefore, they have a relatively low switching cost and more willing to change their habits. On the contrary, to most of the readers, it is definitely very different from reading an e-book to reading a printed book. The feelings of holding a printed book and flipping over a physical book are irreplaceable. So readers are loyal to printed book and hesitate to switch from traditional books to e-books. Hence, it is reasonable to predict that the pace of adopting digital music is faster than the pace of adopting e-books. Question 7 I think both of the attitudes about reading and purchasing e-content have changed a lot in recent years. In the old time, people could read e-content via PC only. Nowadays, people are able to read e-content through various mobile devices. Therefore, they spend more time on reading e-content especially during leisure time and even commuting time. However, the quality of the reading effort is diminishing as the overload of e-content available on Internet. In addition, people tend to rely more on the e-content since it is very convenient, environmentally friendly, high mobility and high accessibility. For the attitude about purchasing e-content, more people are willing to pay for the e-content in recent years. The advanced online payment system plays an important role. People feel more secure and also convenient when dealing online ever than before. Moreover, more well-known and large-scale publishers offer more choices of e-content for readers. Besides, in the light of the prevalent of mobile device, people have more time and chances to read the e-content regardless of the time and places. Thus, people are more willing to spend on e-content than before. Question 8 The hardware plays a paramount important role in the adoption of e-books. No matter how amazing the e-content is, the e-books would not be popularized if the hardware were not user-friendly. However, a good hardware is very likely to boost sales of the e-books. It is because the hardware is a fixed cost while the e-books are the variable cost to the readers. A portable hardware with proper size of monitor and high capacity is very attractive to the readers. They no longer need to neither carry the bulky printed books nor spare some places for storage. Moreover, the hardware enables readers to read comfortably when comparing to read via PC or smart phone. It is good for the readers’ eyes. Last but not least, the hardware contributed to protecting the environment as it saves much paper. Only when the hardware preforms better than the tradition printed books, the adoption of e-books will be success. Question 9 I do expect the size and also the pattern of diffusion are quite different globally as compared to the United States. The size and the pattern of diffusion depend on many factors. Population, culture, attitude to new products, technology and even literacy could be one of the variables of the size and pattern of diffusion. Take Africa as an example; though the population size of Africa is much larger than The United States, the potential size of the market for e-books must be obviously different from the United States. So it is not difficult to understand that the size and pattern of diffusion of various places will not be similar to the United States.

Conflict in The Victory by Anne Stevenson :: Victory

Conflict in The Victory by Anne Stevenson " I thought you were my victory /though you cut me like a knife" (Stevenson 1-2) The opening lines of Anne Stevenson's poem The Victory set a tone of conflict. This poem, at its surface, expresses a mother's thoughts on giving birth to a son. Stevenson describes the mixed feelings many mothers have upon the delivery of their first born. The final release from pregnancy and birthing pains, coupled with the excitement of bringing a live creature into this world, at first seem a victory to the new parent. The author goes on to confute the event as a victory. Using words such as "antagonist" (5), "bruise" (6), and "scary"(13), she shows the darker side of childbirth. The mother has felt her own life's blood flowing that a stranger might live "The stains of your glory bled from my veins." (6-8). That she sees her own child as a stranger is evident in lines nine and ten, where the child is described as a "blind thing" (9) with "blank insect eyes"(10). The mother portrays her baby as a bug, not even human. In the last section of the poem, two questions are asked, attesting to the mother's internal conflict. "Why do I have to love you?/ How have you won?" (15-16). These unanswerable queries are some of the fundamental questions of our human existence. Below the topmost layer of meaning in The Victory, is an underlying theme that any parent or guardian will easily relate to. Children are born out of the great pain their mothers endure. They are helpless in one sense, yet they command the care of their parents. Stevenson describes the intrinsic helplessness of infants with the words "Blind"(9) and "Hungry"(14). Yet, this poem does not refer to new born babes alone. Birthing pains do not cease with the delivery of a child. The conflict described in this poem is felt by parents of adult children as well. All parents give of their lifeblood, at least in the emotional sense, in raising and maintaining their offspring. The Victory is a poem written as if by a mother only just delivered of a new born son, yet the themes expressed in its lines apply to all the

Marty King Essay

Erik Erikson had numerous contributions to the field of psychology; many of which involved his developmental theory. Erikson has been compared to Sigmund Freud; as both men believed that humans develop in stages. Erikson however, believed Freud to be misguided, as Erikson believed that developmental process is one which occurs throughout one’s lifespan; whereas Freud believed that a human’s personality developed by the age of five (Chen, 2007). Erikson published numerous books on human development; as well as issues including the generation gap, changing sexual roles and racial tensions. This quantitative research paper however, discusses Erikson’s eight stages of development and how each stage correlates with symptoms of borderline personality disorder. Each of Erikson’s eight developmental stages consists of certain elements (crises), which if not resolved will result in negative outcomes. The researcher believes that when crises are not resolved within Erikson’s developmental stages, it predisposes individuals to borderline personality disorder. In order to prove this hypothesis, the researcher will conduct quantitative research on the causes and symptoms of borderline personality disorder and the negative outcomes of Erikson’s eight developmental stages; the phenomenological research will then be compared. Borderline personality disorder has been widely studied over the past several decades; however, there is limited research on what childhood (birth to age eighteen) attributes contribute to the onset of BPD. Approximately two percent (up to ten million) of adults in the U. S. are diagnosed with BPD; accounting for twenty percent of psychiatric hospitalizations (NIMH, 2008); many cases of BPD go undiagnosed. Genetic factors have been primarily studied in the past as the biological cause of BPD; however recent research shows that forty to seventy-one percent of BPD patients were sexually abused as children (NIMH, 2008), approximately seventy-three percent report physical abuse and emotional abuse and neglect are also commonly reported in BPD cases. These statistics indicate that there is reason to believe that childhood trauma could significantly predispose a person to BPD. While research as to the possible causes of BPD has been conducted, the researcher proposes that a quantitative study be conducted in order to collect phenomenological data from various studies, for comparison to Erikson’s eight stages of development. The reason for this strategy is that by comparing the results of numerous studies, the researcher can produce â€Å"the bigger picture†, of what predisposes individuals to BPD; thus increasing the probability of successful recovery. The researcher chose Erikson’s eight developmental stages as model for comparison because the eight crises depicted in this model demonstrate the traumas indicated in many BPD cases. When the eight crises are not resolved, the results correlate with BPD symptoms. The researcher aims to prove that individuals who do not resolve the eight negative crises of Erikson’s developmental model; thus suffering some form of childhood trauma, are predisposed to BPD as adults. As mentioned previously, the information proving this hypothesis can be used to improve treatment options for BDP patients. The researcher for this study would like to see a reduction in hospitalization as a treatment for BPD patients; and instead implement alternative methods, such as assisting patients through Erikson’s eight stages. Assisting patients through the eight stages will allow them to re-learn emotional skills and abilities; such as coping skills. The researcher’s professional background in BPD clinical work has allowed significant insight into the difficulties of BPD treatment. Due to the immense amount of physical and emotional energy needed to work with BPD patients; many professionals tend to provide affirmation of the history of failure and poor coping skills by treating the patient with sympathy instead of empathy. The researcher believes that understanding the reasoning behind BPD patient behavior will improve the patient’s ability to improve poor coping skills. This change in professional behavior will reduce the feelings of being burnt out and tired because the professional will be able to support the success of the patient instead of doing the work for them. Currently, there is an attitudinal barrier between the professional and the patient which results in a failure to understand the condition of BPD. The researcher hopes to promote an understanding of BPD patient behavior; behaviors which many clinical professionals find exasperating. In increasing understanding of the development of BPD behaviors, clinicians will be better equipped to work with patients in an inclusive partnership rather than feeling they are exceeding appropriate boundaries. Literature Review Erikson’s Eights Stages of Development The â€Å"Eight Stages of Development†, the process of socialization, were developed by Erik Erikson in 1956 (Child Institute Center, n. d. ). Erikson had extensive experience in psychotherapy; including children and teens of all social classes. Erikson believed that each stage presented a â€Å"psychosocial crisis† in which an individual must experience, learn and resolve in order to successfully manage the next step. Erikson’s eight stages are represented in Figure 1. The eight stages are based on the â€Å"interaction of three different systems: the Somatic system, the ego system, and the societal system† (Keenan, p. 22, 2002). The somatic system refers to the biological processes of human functioning. The ego system are the central thinking and reasoning processes (2002); and the societal system is the process an individual goes through as he becomes integrated into his society. Erikson believed that the eight stages occurred in order and each stage represented a crisis which had to be resolved by the individual. Whether the crisis was completed successfully or not would be the deciding factor on how successful the next stage would be. If the crisis was not mastered, then the individual would be ill prepared to deal with the next stage of development; this trend would continue throughout all the stages. Erikson did believe that the eight stages were relevant throughout life and that he linked a crisis to each stage because that is when the crisis was most salient (Cohen, 2007). Oral-Sensory Stage. In this first stage (trust/mistrust), the first year of life is defined as the time for building trust; this is accomplished by the infant learning trust through the parent or caregiver’s actions and responses to the infant’s needs. Feeding is the focal point of Erikson’s first stage; when the child cries for food, the parent will feed and comfort the infant. If the child is neglected, he will learn to be mistrustful. Erikson also believed if trust was not established in the first stage, the child could become â€Å"frustrated, withdrawn, suspicious, and will lack self-confidence† (Sharkey, 1997). Muscular-Anal Stage. The second stage (autonomy/doubt) consists of ages one through two years old. During this stage the child is face with the development of self-control which is accomplished by a supportive atmosphere. If basic trust was not developed in stage one, the child will have difficulty in establishing self control in stage two, resulting in a lack of self-esteem (Sharkey, 1997). If the parent is too controlling, or does not provide enough structure the child can become doubtful of himself and the environment around him.

Romantic Heroes Essay - 808 Words

The Romantic hero, fashioned by the Romantics, is portrayed as a paradigmatic, random individual with a particular purpose. The Romantic hero begins his mission by following his inner light, in order to achieve his goal. He will not rest until it is consummated. Through two of Longfellows works, A Psalm of Life, and Excelsior, Longfellow illustrates the full picture of a Romantic hero. The description that Longfellow gives is so precise, that it can cause a reader to question Hawthornes, another Romantics character, Young Goodman Brown, as an actual romantic hero. In both Excelsior and A Psalm of Life, Longfellow creates the two different Romantic heroes with specific inner lights. Although the two different characters have†¦show more content†¦Human life, he declares, would not be life without the dream of life after death. Setting an example is also an integral part of being a Romantic hero. Longfellow believes that man creates his own fate through the choices he makes. A person can find the purpose, or even his purpose, of life through the decisions he makes. Not everyone will end up happy, but leading a life of achievement will offer an ending to an existence well worth living. Longfellow discusses this in his work. The boy in Excelsior tries to fulfill his destiny when he, half buried in the snow was found, still grasping in his hand of ice, that banner with the strange device. Longfellow wants the readers to learn from this boy. The youth was sent to complete a task and with every last breath of air he attempts to fulfill his destiny. The boy in the poem dies on the mountain but his spirit still goes on. Even though the boy never reached his goal, Longfellow wants the reader to note that he died trying. The poem tells the reader that the boy is serene and far, or in other words, he chooses to still climb. A Psalm of Life has a different kind of message that can be le arnt from. Not enjoyment and not sorrow is our destined end or way but to act that each tomorrow find us farther than today. This line in particular provides an imagery of people trying to find their way on their own, but being too afraid to do so. Longfellows Romantic hero is explainingShow MoreRelatedSatan Is Evil Or Evil?1330 Words   |  6 Pagessecond chance. Other Scholars have also had this idea of Satan not being the true antagonist of Paradise Lost. In the John M. Steadman article â€Å"The Idea of Satan as the Hero of ‘Paradise Lost†, stating that â€Å"because there are multiple definitions of heroes, such as Homeric, Christian Theological Hollywood, Byronic, and Personal, Satan can’t be contained to just one particular idea† (254-5). According to the traditional definition, God himself cannot be categorized as a hero because of how he is portrayedRead MoreIrony and Sarcasm in A Mystery of Heroism and War is Kind Essay examples947 Words   |  4 Pagesaccurately portray real life. One of those Realist writers was Stephen Crane (1871-1900). In the short story A Mystery of Heroism and his poem War is Kind Stephen Crane uses irony and sarcasm to effectively portray his attitudes about war and to mock Romantic heroism. In the story, at first sight no one could be called a hero. There are many characteristics that mark a true hero, someone that stands up for his beliefs and dies for it if he has to, not just dying in war or in a horrible way. The motiveRead MoreAnalysis Of The Prelude And Lord Byron s Biting Epic1202 Words   |  5 PagesThe Romantic poets sought to write epic poems that incorporated new philosophies, ideals, and literary trends, while also parodying, satirizing and deconstructing the epic poem itself. Rather than merely extend the epic tradition, the Romantic poets subverted the characteristics and tropes attributed to epic poetry, in turn creating an interesting revision of the epic. Two seminal works of Romantic poetry that adequately showcase the revision of epic tradition are William Wordsworth’s introspectiveRead MoreEssay about Romanticism and George Sands Indiana856 Words   |  4 PagesIndiana, is a text that represents Romantic sentiments in France at the time. Sand was independent, individual, and rebellious, she believed in reform more than revolution. This book gives insight into her own personal political thoughts and ideas at the time. It also has its own Byronic hero, a romantic favorite in literature. This book is more than just a read, it is also an historical and political text that lets you read into the thoughts and ideas of Romantic authors in Europe. 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This new epoch established generations of new music advancement as composers, performers, and artists setout to create a new legacy of music development with the ideas of emotion, expression, and enlightenmentRead MoreClassic Medieval Romanticism in La Belle Dame sans Merci Essay examples1497 Words   |  6 Pages Romanticism can be broadly defined as that which is `the fabulous, the extravagant, the fictitious and the unreal. The words Romantic and Romanticism were applied to or used for a literary trend in English literature of the last quarter of 18th and mid-nineteenth century to refer to various tendencies. Later the term Romanticism was applied to `resurgence of extinct and emotion which could not be suppressed by the `rationalism of the 18th century and a low key revolt could be heard in some literaryRead MoreByronic Hero In Dostoevskys Crime And Punishment1347 Words   |  6 PagesByronic hero is characterized by his/her cunning, arrogant, violent, and often intellectually unstable behavior. First developed in the 19th century by English Romantic poet, Lord Byron, a Byronic hero deviates from the traditional Romantic hero archetype (Byronic). Although both archetypes â€Å"rebel against traditional modes of behavior†, Byronic heroes have greater psychological burdens. This resu lts in morbid sensibilities. Dostoevsky s Crime and Punishment explores a variety of characters’ psyche andRead MoreHow am I a Romantic?546 Words   |  2 Pages Dear 11th Grade Student, You may of heard of a time called the American Romanticism Period, but i’m sure you dont know the whole story. The Romantic period was a time in history that symbolised Romance and different Characteristics you might of felt in the stories. Some of the Characteristics might be Focus on an Individual, Supernatural, Intuition over Fact, Imagination over Reason, Emphasis on Emotion, Love of Childhood, Awareness of Past, Belief in Democracy, and Love of Nature. ThereRead MoreArgumentative Essay On Survivors1927 Words   |  8 Pagesof fear and excitement, for example the fight or flight response. Often times contestants wrongly attribute these intense feelings, leading to extreme love or hatred of another contestant (Gerrig 83-86). For example, occasionally, contestants form romantic relationships with each other. Most of the time the relationships don’t last long outside of the game due to them misattributing the reason for what they’re feeling and experiencin g. Physiological arousal isn’t the only thing affecting the way contestants

Analysis Of The Book Cat Crosses The Couryard

This was no coincidence. Trollocs did not gather like this. They did not attack like this. They did not hunt like this. Not without orders. And not without one one the ends of their leashes. Time slowed down and sped up all at once, the world slowing while Aermun accelerated, suspended in the blackness of his soul. Cat Crosses the Couryard. His posture was lax, arrogant almost, sword loosely held in front of him and body straight. He felt Caitrin leap away from him, and his void shook; he knew she would last if she was channeling, but the familiar shhck! of a dagger leaving its sheath meant she was not using the Power. If he could have let out a guarded shout in that moment, he would have, but there was no time. In order to save her†¦show more content†¦A number of trees had fallen, it seemed, imprisoning her in the most terrifying cell imaginable with the worst prison guards ever conceived. A sloppy execution of Parting the Silk dispatched the nearest trolloc, but his heart had replaced his head in the battle. The remaining trollocs saw him, and split, two staying to lord over Caitrin s personal fire while the other three ran him down. The first was met with the full fury of Aermun s frustration as The Boar Rushes Down the Mountain slammed repeatedly into its shoddy steel shield until its arm was bashed aside and a cut landed home. An unceremonious lash of Aermun s blade opened its throat, but left him exposed on his left side long enough for a great boar s head to connect with his chest. His light steel breastplate saved his ribs from breaking but left him with an extraordinarily uncomfortable lump in his armor as he flopped to the ground, luckily managing to regain his balance and roll with his momentum as an axe exploded into the ground his pelvis had so recently occupied. Aermun hastily seized his opportunity, surging forward and landing the only precise slash of fight so far as Hummingbird Kisses the Honeyrose lanced a clean hole in its throat. Aermun did not have time to finish it off, instead leaving it to scream on the forest floor as he abandoned it. The two trollocs standing over Caitrin had seen the result of the fight, and, enraged, had stepped

The Evil Behind The Truth - 1786 Words

The Truth behind the Truth Regardless of how one chooses to live their lives, there always seems to be a desire for something more. Despite the difficulty to understand certain life events, it seems that numerous authors yearn for the truth in their lives. In the Gospel of Matthew, Christ and his disciples struggle with understanding truth. Christ serves as a teacher for the disciples as he explains how â€Å"†¦the angels will appear and separate the wicked from the upright,/to throw them into the blazing furnace, where there will be weeping and grinding of teeth† (Matthew 13:49-50). This passage explains to the disciples how as long as they live free from sin, they will be able to better understand hell and live a fulfilling life. Meanwhile, in Oedipus Rex, Oedipus spends all of his time searching for the perpetrator in King Laius’s murder. On the other hand, in Antigone, the characters each seem to go different routes in discovering truth. Although Antigon e believes she owes â€Å"†¦a longer allegiance to the dead than to the living†¦,† indicating she seeks truth in the rules of the gods, Creon, the King and Antigone’s uncle, pursues the truth by strictly abiding to the rules of man. Ismene, Antigone’s sister, takes a middle stance by seeking a balance between the rules of man and the rules of the gods in hopes to find truth. Unlike Antigone, Ismene is more concerned in finding peace in her life, whereas Antigone and Creon seem more adamant about doing the right thing. InShow MoreRelated The Heros Journey in Hawthornes Young Goodman Brown Essay example1249 Words   |  5 Pages and is faced with obstacles. He must decide if he will carry his journey out till the end, or turn back and not learn the truth about himself and other humans. The story Young Goodman Brown, by Nathaniel Hawthorne traces Young Goodman Browns experiences, physical and psychological, paralleling the Heros Journey and showing how he discovers that humans are truly evil by nature; therefore, altering his views of other humans and life itself. In the beginning of the story, Goodman Brown is facedRead MoreHonesty And Knowledge : The Philosophy Of Saint Augustine, Saint Thomas Aquinas, And Immanuel Kant1249 Words   |  5 PagesSome of us will tell the truth for the moral sake of doing so, or because it can serve a purpose and actually prove to be mutually beneficial. Revealing sensitive or private information to someone is risky, but the philosophers Saint Augustine, Saint Thomas Aquinas, and Immanuel Kant can agree that Larry would be doing a moral thing by informing Simon of his father’s infidelity. Essentially, for Saint Augustine, God is truth, and we should always work towards this truth. It is wisdom that providesRead MoreA Comparison Of Oskar Schindler And Amon Goeth : What Is Human Evil?1002 Words   |  5 Pagesvery different reactions to World War II. Human goodness is when one sees the truth, accepts it, and makes rational decisions based on the truth. Human evil is irrational decision-making, and when a person sees and understands the truth but choses to defy it. In Steven Spielberg’s Schindler’s List, philosophers Kant and Rahner would agree that Schindler is a representation of human goodness, and Goeth represents human evil. Oskar Schindler represents human goodness with his actions during the HolocaustRead MoreRole of Women in Macbeth by William Shakespeare Essay1039 Words   |  5 Pagesinto an aggressive man for expecting the throne, and being delegated as the thane of cawdor. All around the play, the ladies are always associated with evil, right from the earliest starting point of the play, beginning with the wyrd sisters. The three witches are indicated as vindictive creatures. They give of a quality like being an evil figure, who controlled each persons fate, and likewise, they were women. The agnostic part of the three witches is held with their examination to the FatesRead MoreHeart Of Darkness By Joseph Conrad1436 Words   |  6 Pageshad and how various obstacles were overcome with he and his intended or fiancà ©. In Heart of Darkness, the main themes that are discussed and brought to light throughout the entire story are that of the hypocrisy behind the idea of Imperialism, the madness that surrounds the absurdity of evil, and the idea of the last encounter that Marlow has with Kurtz’s intended and the irony that surrounds the circumstance. First, the issue at hand with Imperialism and the insincerity that surrounds it is bafflingRead MorePlato And St. Augustine1090 Words   |  5 Pages there is an eternal idea or form of each moral principle, such as justice, piety or truth. This essay will discuss the ethics of Plato, Socrates and St. Augustine According to Plato, evil is simply the result of ignorance. He believed that all people are attempting to do what they understand as good. He believes there are three parts of the soul. There is a rational and moral part of the soul that loves truth, justice and good. There is a spirited part of the soul that loves worldly achievementRead Moreyears and years the world has been blinded by the evils in society. There are three main matters1100 Words   |  5 Pagesyears and years the world has been blinded by the evils in society. There are three main matters that shade us from the truth every day. These are corruption/greed, media takeover, and ignorance. Corruption is one of the worst evils to enter society; it has seemed to become a type of faith on its own. The way it is evil is that corruption has blinded society by the way we think and act, it allows people in society to think that doing evil things is an ok thing to do. The reason corruption has changedRead MoreBiblical Allusions: Golding ´s Lord of the Flies884 Words   |  4 PagesFlies, Golding utilizes symbolism of places and characters to allude to the Bible. Out of the many references, four significant biblical allusions – title of the novel, Simon, beast, and the island itself – emphasize Golding’s theme inherent sin and evil in mankind. The title, Lord of the Flies, refers to the pig’s head that was placed on a spear and worshiped by the young boys on the island. In other words, the boys have chosen to believe in a fake deity, much like the people of Israel, who builtRead MoreWestern Views On Human Nature918 Words   |  4 PagesThe Four Noble Truths represents the realities of nature that cannot be denied. The first truth is that life is suffering. Meaning that to live is to suffer, it is not to say that the entirety of life is to suffer, but that suffering is a part of life. The second truth is the desire for what is liable to birth, impurity, decay, and death. All examples of suffering as a part of the normal course of life. The third truth is that the elimination of the desire, as told by the second truth, eliminates sufferingRead Moreessay945 Words   |  4 PagesEvaluating Truth and Validity Exercise PHL/458 July 7th, 2014 Richard Burgoon â€Æ' Evaluating Truth and Validity Exercise The arguments I choose to assess for truth and validity will be three statements taken from the Applications list 12.2 (a -y) at the end of Ch. 12, â€Å"The Art of Thinking† publication. I will start with the statement (j) the premise that power must be evil because it can corrupt people. Checking the argument for any hidden premises and ensuring it is stated fully and

The Role of Accounting in The Society

Question: Discuss about theRole of Accounting in The Society. Answer: Introduction Ball and Browns contribution to accounting practice are unquestionable. Many people regard the duo as celebrated accounting researchers due to their immense contribution to the capital market research. This paper seeks to investigate and present a detailed discussion using Ball and Brown (1968) work to explain the rationale, method, and findings and link it to the development capital market research. The authors wanted get an answer to a modest central research question. The question raised was; are numbers useful in accounting? (Ball and Brown 1968). The results of Ball and Brown (1968) will be helpful in this paper in highlighting the significance and importance of the contribution of the two authors in capital market research. Rationale The logic of both Ball and Brown to engage in the study (1968) was to empirically evaluate accounting income in numbers to illustrate the connection between information in financial statement and the stock prices. No one had empirically tested the connection between what the firm said would be the EPS (earning per share), some alterations to such projection as well as price of shares a year to come. The existing literature on accounting during mid-1960 was dominated by a priori perspective and less regard to empirical testing (Ball and Brown 2013). The research held a central conclusion that the information contained in the financial statement generated based on the then rules of reporting was worthless to the stockholders. It was also centrally agreed that radical alterations like information entailed in financial statements were required. There was, therefore, a consensus at the time that was no relationship between financial data and stock prices since they embraced the data accumulation computed based on the different guidelines (Fama et al. 1969). Accordingly, studies and debates predominantly circumvented the second conclusion that rules regulating financial statement needed alteration. Accounting literature then deemed unfruitful to investigate how information contained in the financial statements affected or related to stock prices. It was upon this basis that Ball and Brown (1968) study was the premise to test this connection empirically. Method Ball and Brown used a method that relates accounting income to the prices of stock to empirically test for the association between stock prices and information contained financial statement. The method was anchored on the theory that offers a justification for choosing the security price behavior as an operational test of usefulness (Malkiel. and Fama 1970). They believed that the information manifested in income numbers is useful. They then based their method on this theory and evidence and focused on information particular to one firm. They constructed two alternative models of the expectation of income to be by the market. The two authors then investigated the reaction of the market when market expectation prove false. The authors embraced the view of information in their study and measured the variance between the likely income variation and tangible alteration of revenue. They also showed how such change influenced stock prices (Bernard and Thomas 1989). The authors were measuring the forecast errors unexpected component in earning announcements (Ball and Brown 1968, p.162). They used a simple random walk model as well as a model which regulated effects of the market currently termed as earnings surprise. Finding Ball and Brown (1968) empirically proved that accounting information was indeed correlated with the changes in share prices and hence it was no longer attainable to conclude that accounting information was meaningless to investors. They were able to prove the hypothesis that alterations in the prices of shares integrated material variations in primary company value to some levels. The authors confirmed that most increases in the abnormal returns were before announcement date indicating the accuracy of the forecast of whether companies outperform or underperform. They discovered that stocks showed affirmative income surprise and that nonstandard earnings for the window of events remained probably to be constructive. Importance/Contribution to Capital Markets Research The study initially received a tepid reaction from the academicians but later converted to the seed that made a difference. This research became the origin of the extensive contemporary frame of research explicating the ways investors use the financial information as well as the impacts of such information on returns of share price. Ball and Brown (1968) triggered the transformation of the accounting study by illustrating that there is an association between the changes in the prices of shares and the information entailed in the financial statement reports. The two researchers were inspired by the lack of any empirically testing to prove the earlier hypothesis on whether there was a linkage between what the firm expected the earning per share to be, any alterations to that forecast as well as its share price twelve months later. Ball and Brown (1968) study was, therefore, a groundbreaking study that led to the currently accepted association between accounting information and the security prices hence the bedrock from investment processes. The uncovered the empirical evidence since that concluded that financial statement information prepared under the then available reporting guidelines had a useful meaning to investors (Beaver 1968). References Ball, R. and Brown, P., 1968. An empirical evaluation of accounting income numbers. Journal of accounting research, pp.159-178. Ball, R. and Brown, P.R., 2013. Ball and Brown (1968): A retrospective. The Accounting Review, 89(1), pp.1-26. Beaver, W.H., 1968. The information content of annual earnings announcements. Journal of accounting research, pp.67-92. Bernard, V.L. and Thomas, J.K., 1989. Post-earnings-announcement drift: delayed price response or risk premium?. Journal of Accounting research, pp.1-36. Fama, E.F., Fisher, L., Jensen, M.C. and Roll, R., 1969. The adjustment of stock prices to new information. International economic review, 10(1), pp.1-21. Malkiel, B.G. and Fama, E.F., 1970. Efficient capital markets: A review of theory and empirical work. 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