Nursing Reflective

Question: Talk about the Nursing Reflective. Answer: Presentation: Social wellbeing is one of the most significant parts in human services administration arrangement. Attendants ought to guarantee social wellbeing in their training. Attendants need to manage medicinal services clients from different social foundation, along these lines, they have to demonstrate social ability to treat patients from assorted social foundation similarly (Arieli et al. 2012). In this exposition, I have chosen the Muslim ladies in Australia, as my different gathering of care client. Distinguishing the boundaries of giving socially safe practice in medicinal services, I would exhibit my nursing aptitudes to beat those hindrances. As per Mkandawire-Valhmu and Doering (2012) culture assumes a significant job in forming people wellbeing related qualities, practices and convictions. Ineffectively took care of diverse issues frequently influence the medicinal services rehearses contrarily, bringing about inadmissible wellbeing results of the patient. There are a few boundaries of conveying social able human services practices to Muslim ladies Australia. In my clinical practice, I have seen that, however Australia is a multicultural and multilingual society, the human services framework is overwhelmed by a mono-social Anglo Australian methodology, which is arranged to English speakers (Kirmayer 2012). While rehearsing in Queensland, I got that, as Islam puts the duty on a person to rehearse her religion, their social varieties makes it hard to give authoritative guidelines and guidelines applied to every single Muslim patient (Kirmayer 2012). They likewise have Intraculture contrast. One regular hindrance is corres pondence issues with Muslim patients. While working in Queensland, I have seen that more than 70 % of Muslim ladies have a place from non-English foundation (Grossman et al. 2012). It can block the compelling correspondence inside medical attendant and patient, in this manner improving the opportunity of error and patients disappointment. Another hindrance is healthful issue; the dietary needs of a Muslim lady are same as a non-Muslim individual, yet a few nourishments are not allowed to be eaten in their religion (Kirmayer 2012) Failure to meet their strict needs may prompt patients disappointment. For instance, Muslim ladies are not allowed to eat pork, which is extremely normal fixing in nourishments like bacon, ham or gelatine in western culture. They need to follow just halal eating regimen. It is likewise a test to bed bound patient to wash their hands when feast. As they are not allowed to expend liquor, a few medications containing liquor are likewise not appropriate for the gathering of patients (Mkandawire-Valhmu and Doering 2012). If there should be an occurrence of Muslim ladies, it is additionally not allowed to uncover their body parts before others, particularly if the individual is of inverse sex. In this manner, it is hard to bargain this patient, particularly on the off chance that they are having a few issues identified with sexual or regenerative wellbeing matters. Fasting is basic in Muslim culture, which isn't allowed when a patient is seriously sick or malnourished (Mkandawire-Valhmu and Doering 2012). It is another hindrance of giving the patients their ethical rights. Muslim is a male overwhelmed religion. Ladies don't reserve the privilege to get to social insurance without the authorization of the male leader of the family (Gerlach 2012). There is nearly less social mindfulness inside the Muslim ladies about wellbeing and wellbeing related issues. Along these lines, it is trying for the professionals to cause them to comprehend about the consideration arranging. As a medical caretaker, I need to exhibit my incredible nursing skills for dealing with this gathering of patients. I have consistently attempted to address my patients one of a kind decision, wellbeing and individual requirements for fulfilling them, while keeping up the human services rules and guideline. I trust in rewarding patients correspondingly, notwithstanding separating a patient dependent on social and sexual character. Be that as it may, I additionally have confidence in giving my best practice to guarantee patients fulfillment. Accordingly, while managing the Muslim ladies, I show regard and poise towards their strict view for upgrading trust. I have experienced a multicultural preparing during my clinical practice for guaranteeing social capability, as I have uncovered that a large portion of the Muslim ladies patients are inexperienced with western English. Before setting up a remedial relationship with the patient, I trust in looking into the patients foundation, whic h causes me to associate with the patient in a right manner. I generally endeavor to exhibit a socially nonpartisan disposition towards my Muslim ladies patients. Being a female attendant, I endeavor to help my patients in their ADLs, by demonstrating appreciation and compassion towards their security. I accept that, demonstrating social skill energize patients adherence with the human services. Muslim patients have a few strict convictions, for instance, they need to wash their hands when supper, they need to supplication 5 times each day (Jeffreys 2015). I utilize my non-verbal relational abilities, on the off chance that I address challenges in speaking with a Muslim lady. As indicated by the guideline of Treaty and Waitangi, I accept that shoppers right is significant for improving the nature of social insurance arrangement. Social wellbeing can be characterized as the viable nursing practice of an individual from another culture, which is dictated by that individual. As a medical caretaker I am answerable for keeping the patients socially protected, while observing all the principles and guidelines with respect to the nursing practice. I never permit any sort of separation in my work environment. While taking care of more established Muslim female patient, I have discovered a few times that the patients experiencing debilitated versatility, needs help with washing, however they will not take help from a medical attendant. At that circumstance, regardless of contending with them or compelling them, I have consistently talked amiably with them and helped them to comprehend that we comprehend their limits, yet it is critical to take help from somebody, as there is a danger of falling in restroom, which can influence their wellbeing harshly (Almutairi and McCarthy 2012). I guaranteed the help of a female he lp specialist and endeavored to boost their self-governance during washing, however much as could be expected. With my critical thinking aptitude I have settled the culturally diverse issue effectively, a few times. In any case, in one case, I needed to oversee a drug comprising liquor, to a Muslim lady, as the prescription was fundamental for her endurance and recuperation. Here, the patients social conviction was not organized, as it was identified with her extreme medical problem. I have additionally confronted correspondence issue with a Muslim lady originating from remote territory, where I utilized hand signs to speak with her, rather than utilizing a mediator. At a populace level, as a medical caretaker or other human services proficient, I would urge the Muslim ladies to help out the social insurance group through powerful culturally diverse correspondence. Wellbeing support is significant for adherence of the patients with the nursing and other clinical intercession methods. Likewise, I would likewise like to advocate the patients about the significance of the intercessions just as the guidelines they have to follow. In this unique circumstance, I will encourage my patient to experience the guidelines and guidelines of the emergency clinic and hold fast to the social insurance rehearses. I will prompt the Muslim ladies to take an interest in non-verbal correspondence with the human services experts and act impartially. At first, I would advance the consciousness of diverse correspondence and give them a confirmation of being socially protected in the association. They are urged to show regard towards the clinical experts (Akhu-Zaheya and Alkhasawneh 2012). Then again, I will advocate different staffs to organize patients right and wellbeing needs. I will encourage nursing staffs to regard and demonstrate backing to patients strict conviction. I generally help my patients to keep up strict perspectives, as I have faith in organizing patients needs in general. In the medicinal services group, I endeavor to mirror my convictions upon my associates, to help different patients in a socially sheltered manner. Patients protection is one of the key prerequisites for working with Muslim patients. In any case, no sexual orientation or racial segregation ought to be considered in social insurance setting. Being a medical attendant, I have shown the most ideal approaches to give socially safe medicinal services methods to individuals who have a place with assorted social gathering. All in all, it very well may be said that managing my chose gathering of administration clients, the Muslim ladies, I should show regard and poise towards their social angles and ought to organize their own and wellbeing requirements for fulfilling them. Reference List Akhu-Zaheya, L.M. furthermore, Alkhasawneh, E.M., 2012. Reciprocal elective medication use among an example of Muslim Jordanian oncology patients.Complementary treatments in clinical practice,18(2), pp.121-126. Almutairi, A. also, McCarthy, A.L., 2012. A multicultural nursing workforce and social points of view in Saudi Arabia: An overview.TheHealth,3(3), pp.71-74. Arieli, D., Friedman, V.J. also, Hirschfeld, M.J., 2012. Difficulties on the way to social security in nursing education.International Nursing Review,59(2), pp.187-193. Gerlach, A.J., 2012. A basic reflection on the idea of social safety.Canadian Journal of Occupational Therapy,79(3), pp.151-158. Grossman, S., Mager, D., Opheim, H.M. what's more, Torbjornsen, A., 2012. A bi-national reenactment study to improve social mindfulness in nursing students.Clinical Simulation in Nursing,8(8), pp.e341-e346. Jeffreys, M.R., 2015.Teaching social ability in nursing and human services: Inquiry, activity, and advancement. Springer Publishing Company. Kirmayer, L., 2012. Reevaluating social competence.Transcultural Psychiatry,49(2), p.149. Mkandawire-Valhmu, L. what's more, Doering, J., 2012. Study abroad as a device for advancing social wellbeing in nursing educa

“Volcanic and Seismic Events Are Major Pieces of Evidence Towards Proving That the Plate Tectonic Theory Is Valid” Discuss the Extent to Which You Agree with This Statement (40). Essays

â€Å"Volcanic and Seismic Events Are Major Pieces of Evidence Towards Proving That the Plate Tectonic Theory Is Valid† Discuss the Extent to Which You Agree with This Statement (40). Papers â€Å"Volcanic and Seismic Events Are Major Pieces of Evidence Towards Proving That the Plate Tectonic Theory Is Valid† Discuss the Extent to Which You Agree with This Statement (40). Paper â€Å"Volcanic and Seismic Events Are Major Pieces of Evidence Towards Proving That the Plate Tectonic Theory Is Valid† Discuss the Extent to Which You Agree with This Statement (40). Paper â€Å"Volcanic and seismic occasions are significant bits of proof towards demonstrating that the plate structural hypothesis is valid† Discuss the degree to which you concur with this announcement (40). The hypothesis of plate tectonics clarifies the structure and movement of the Earth’s lithosphere. The hypothesis expresses that the Earth’s hull is part into huge areas called structural plates, and these move comparative with each other making limits at which the plates meet, veer or move past one another. These plates are either mainland or maritime and are fueled by convection flows, which is the roundabout development of magma that originates from inside the mantle. These flows are fueled by the center, which warms the magma, making it rise, chill and fall ease off. This roundabout movement causes the plates, which drift on the mantle, to move. In 1912, Alfred Wegener, a German meteorologist, was the principal man to express that the mainlands were once participated in a too landmass called Pangaea, then again he couldn’t clarify why and what happened to make the plates move separated. He put together his hypothesis with respect to the remarkable attack of the South American and African mainland coastlines. Prominently the eastern edge of South America and the western edge of Africa indicated fundamentally the same as topographical highlights proposing that sooner or later in the Earth’s history the landmasses were combined. Another marker that the mainlands were once disseminated contrastingly was land proof of glaciations in India †it is impossible that icy masses would ever arrive at such low scopes, however this issue can undoubtedly be clarified by the hypothesis of mainland float. Fossil appropriation additionally gave the absolute soonest proof for plate tectonics. Curiously, plant and creature fossils were found on the coordinating coastlines of South America and Africa. These are presently generally isolated by the Atlantic Ocean, hence he contemplated that is genuinely inconceivable for the vast majority of these life forms to have swum or have been moved over the wide seas. From this he recommended that the plates were once associated. Lamentably, at the hour of Wegner’s work a large number of the geophysical instruments that are utilized today didn't exist making the hypothesis significantly more hard to help. Since the first hypothesis in 1912, more up to date proof has showed up which underpins the hypothesis. In 1962 Hess contemplated the period of rocks around the mid-Atlantic edge. He found that the freshest rocks were nearest to the edge and the most established were towards the USA and Caribbean. He consequently contemplated that the earth’s hull was growing along the maritime edges, so it must therapist somewhere else. As per Hess, the Atlantic Ocean was extending while the Pacific Ocean was contracting. The old maritime outside layer was expended in the channels making new magma rise and emit along the spreading edges to shape another covering. He clarified why the earth doesn’t get greater with ocean bottom spreading and why there is so little dregs collection on the sea depths, and why maritime rocks are such a great amount of more youthful than mainland ones. Paleomagnetism is probably the most grounded bit of proof for plate structural hypothesis and was created to persuade researchers regarding the speculations legitimacy. Basalt magma structures volcanoes when it ascends to the surface, cools and afterward frames land. At the point when new outside layer is shaped sure minerals adjust themselves to the Earth’s attractive field. Fascinatingly, new innovation has demonstrated that the attractive field of the Earth is known to turn around each couple of hundred thousand years. So this suggests new material is continually being created and the ocean bottom is spreading. Nonetheless, as the Earth isn't changing in size, material is being demolished in different zones which are called subduction zones, and the situation of the Earth’s outside layer must be continually evolving. Seismic movement can likewise reveal to us a lot about plate tectonics. Plotting the areas of enormous seismic tremors permits us to see where they most much of the time happen. Quakes are brought about by the development of structural plates. The plates move past one another which causes contact making pressure develop bringing about unexpected shocks. This just occurs on plate limits meaning zones that lie on them experience the most exceptional tremors. The way that tremors show up in associated lines rather than groups is acceptable proof for the hypothesis of worldwide plate tectonics. Volcanic occasions are additionally valuable as they give great proof to the hypothesis of plate tectonics. So also to tremors, plotting the areas of dynamic volcanoes on a guide of the world will likewise be helpful as it will show a comparative example. The three fundamental spots where volcanoes are made are at subduction zones, helpful plate limits and in hotspots, with around 75% of the world’s volcanoes being situated on the ‘Pacific Ring of Fire’. The territory where two plates meet is known as a subduction zone, here one plate is pushed underneath the other due to varying in thickness. This outcomes in magma ascending to shape volcanoes or volcanic island circular segments. At valuable plate limits, new material is made by magma ascending through the break. The way that volcanoes in specific territories have various sorts of ejection gives great proof to plate structural hypothesis. All the above reasons propose that the hypothesis is legitimate. In any case, there are a few oddities which conflict with the hypothesis. Not all volcanoes happen on plate limits, some happen on hotspots which are zones where the mantle is especially hot, making it rise and make volcanoes on the outside layer above. This proposes plate tectonics hypothesis may not be legitimate as volcanoes can exist without the hypothesis being right. Hawaii is a striking case of a functioning hotspot †the islands are volcanic yet lie in the Pacific plate. It is a piece of a chain of wiped out volcanic islands in the Pacific Ocean which decline in both age and size as you move north-west. Since the hotspot is made by the hidden mantle this recommends the outside layer is moving over this hotspot meaning the volcanoes inevitably become terminated and disintegrated away. Since Wegener’s first hypothesis, there is presently a lot of proof to help the hypothesis of plate tectonics. Seismic and volcanic occasions can give loads of proof to help the hypothesis, albeit quite a bit of it requires instruments which were not accessible when the hypothesis was first grown, for example, exact techniques for mapping quakes. This made it hard to demonstrate the hypothesis of plate tectonics as there were no hard realities. Despite the fact that others may dissent, there are a lot of proof to demonstrate the hypothesis thus as I would see it the hypothesis is a substantial strategy.

Children of Alcoholics and Intimate Relationships

Children of Alcoholics and Intimate Relationships Addiction Alcohol Use Children of Alcoholics Print Children of Alcoholics Have Intimacy Issues Real Stories From Children Affected by Parental Alcoholism By Buddy T facebook twitter Buddy T is an anonymous writer and founding member of the Online Al-Anon Outreach Committee with decades of experience writing about alcoholism. Learn about our editorial policy Buddy T Medically reviewed by Medically reviewed by Steven Gans, MD on July 15, 2016 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on January 20, 2020 Do You Have Trouble Keeping Relationships?. © Getty Images More in Addiction Alcohol Use Children of Alcoholics Binge Drinking Withdrawal and Relapse Drunk Driving Addictive Behaviors Drug Use Nicotine Use Coping and Recovery Many children who experience early life in a home with at least one alcoholic have difficulty forming intimate relationships.?? Because of trust issues and a lack of self-esteem, it is difficult for them to allow someone to get close enough to have a trusting, close relationship. An intimate relationship -- be it romantic, platonic, spiritual or other close relationship -- can seem like an impossibility to adult children of alcoholics. They find it difficult to allow themselves to look to others for interdependence, emotional attachment or fulfillment of their needs. Visitors to our Alcoholism site in answering the question, How Do You Feel Growing Up With an Alcoholic Parent Has Changed You? discuss the difficulty they have with intimate relationships, one of the common characteristics that children of alcoholics can develop. Keep in mind that these experiences, although common in adult children of alcoholics, can represent the outcome of a variety of developmental issues. I Seek Out Men Who Are Cruel and ColdI seek out relationships with men that make me feel inadequate, that leave me lonely, that are cruel and cold. I am currently leaving a man that I have been with over a year who has OCD and spent the last year telling me he would rather be alone, that I talk too much, he cheated on me during the holidays, he refused to introduce me to friends or family, he refused affection, he controlled everything we did. -- Jenna I Want to Stop RunningMy biggest frustration, agony, is knowing that I will lose the partners and friends that I love. I will run away eventually. I know it, but I cant stop it. The loss hurts as much as if they had ditched me on the side of the street, and the relationships are irreparable. I desperately want to stop running and being scared -- I do not want anything but a normal, permanent family. -- McKluver Afraid of Being CloseIt has contributed greatly to problems Im having in my own relationships, with both friends and my fear of being intimate with anyone else. Im 22 and have yet to really have a serious relationship with anyone. I think Im so afraid of being close to someone out of fear of having a relationship like that of my parents. -- Cam Never Had a Normal RelationshipI hate being alone and just want to find a lovely man I can feel safe with and trust, have a normal relationship and maybe even a home (something I have never had). I marvel at others ability to just go out and grab what they want, or even to know in the first place and be able to say what they want. This is beyond me and does make me feel useless and pointless, feeling like Ive never achieved anything while friends go on and have a life. -- JoJo Just Want to Be NormalI just wanted to just be normal. I was not able to have a family and feel very uncomfortable in groups or intimate settings with close family or friends (unless I know them and trust them). I am very rebellious against authority. -- Mad I Seek Impossible RelationshipsToday I seek out impossible relationships with men who are passive aggressive, have excessive amounts of anger or repressed anger and are narcissistic and women who are disapproving and cold. I constantly feel alone and unloved, like something is wrong with me. -- Trying Finding Those Who Need SavingAll the intimate relationships that Ive had with men have been with someone who is addicted or needs saving. I believe that I have viewed this as my only sense of worth in a relationship and that if I am successful at saving someone then I will feel vindicated and prove to myself that I am lovable after all. -- Kalo My Trust Is No MoreI still struggle with fear and abandonment. All of this causes me to get into relationships with men who have abandoned me and my trust is no more. I dont feel that I could ever be in a lasting relationship for fear of the abandonment and trust issues of another person. -- Donna Have You Been Affected? Do any of these descriptions sound familiar? Have you found it difficult to form intimate relationships? You may want to take this quiz to see if you have been affected by having an alcoholic parent. If you are a heavy drinker and have young children in the home, please seek help to quit or cut back on your drinking before your children are affected in ways that will change their entire lives. Return to: The Effects of Growing Up with an Alcoholic Sources: Janet G. Woititz, The 13 Characteristics of Adult Children, The Awareness Center. Accessed November 2010. Adult Children of Alcoholics World Service Organization, The Laundry List â€" 14 Traits of an Adult Child of an Alcoholic, (Attributed to Tony A., 1978). Accessed November 2010.

Personal Statement On Core Value Essay - 1121 Words

Core Value 1: †¢ Family – Family is important to me because in my family blood is thicker than water. We are very supportive of one another and we spend time with each other during the holidays and have family reunions every 2-4 years. I would not be who I am without me family they are a reflection of who I am and what I aspire to be. Core Value 2: †¢ Faith - Faith is important to me because I feel like I’m able to build a connection with someone that knows me better than I know myself. While growing up I did have a hard time communicating, making and maintaining friendship. The thought of someone out there looking out for me at my highest and lowest moments of my life are important to me. Core Value 3: †¢ Leadership – I value leadership because as a child I was taught to not follow others just because everyone else is doing it. I want to become an example for everyone in my community to follow and by being a leader I will be able lead myself and others to success. Strengths: 1. Intuitive – I’m good at reading in between lines and I have a good intellectual perception of human nature. I can talk to people and determine what kind of person they are and whether they would be a good partner or friend. 2. Determined – I’m very headstrong and determined when I’m doing something right or I’m going after something that I want or need. I go above and beyond my capabilities to do what I need to do. 3. Assertive – I’m a very confident person, that is something that I haveShow MoreRelatedPersonal Statement And Core Values1861 Words   |  8 PagesPersonal Mission Statement and Core Values My personal mission is to constantly strive to be the best overall person that I can be within my personal and professional life. My goals are to inspire and help others and myself around me to achieve greatness and a balance that will maximize our potential that will transcend the boundaries of our dreams. 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The Romans Once Proud And Established Society Who Valued

The Romans once proud and established society who valued duty and responsibility to their Gods, family, friends, and to the state (Jones, Rome, Podcast 1). Romans like to believe they were descended from the noble Trojans. (Backman, Cultures of the West, p.171). The Romans were also known to be a dominant and warlike group and this dominance which was key in the construction of this vast empire (Backman, Cultures of the West, p.172). One way Romans were able to grow so large was by successfully integrating the conquered people into society. (Jones, Rome, Podcast 1). Even with the changes to come over the course of the next century a lot of Romans were actually opposed to change (Jones, Rome, Podcast 1). Romans were a traditional society†¦show more content†¦Carthaginians were wealthy and from the North Africans city that was founded by Phoenician’s they had more power, military, and naval experience than the Romans (Backman, Cultures of the West, p.184). Because Ca rthaginians were trying to expand into Sicily which held just one of Rome’s greatest grain producing cities this unsettled the Romans, who feared being cut off from a great food source (Backman, Cultures of the West, p.184). Though they tried a workable solution of sharing control of the Mediterranean this was not to be. This inability to work together was one of the reasons for the start of the Punic wars, a series of three different wars (Jones, Rome, Podcast 1). In the bloody 3rd war of the Punic wars Rome defeated the Carthaginians (Jones, Rome, Podcast 1). After the Punic wars the Romans had found they had accumulated vast amounts of wealth and land. This put them in an awkward position, because they had no plan in place for this and did not know what to do with it (Backman, Cultures of the West, p.187). This huge wealth also created a problem for Rome, one of greed and corruption which began to take control over Rome (Backman, Cultures of the West, p.187). Senators who amassed wealth begun to become lazy and accustomed to a life of leisure, also the more wealth they got the more they wanted (Jones, Rome, Podcast 1). The next problem for Rome was these greedy senators not only wanted the wealth they wanted power tooShow MoreRelatedSocial And Cultural Norms Within The Society2475 Words   |  10 Pages In today’s society, people have accepted the fact that social and cultural norms play a huge role in one’s day to day life. Yet, people tend to neglect how these values are instigated within a person. Cultural and gender norms go hand in hand to a great extent and collectively set a person’s role in the society. Several cultures treasure their age old traditions, yet pay little attention to people’s basic right of freedom to decide their future roles. Culture plays a very essential part in accentuatingRead MoreMonuments of Dr. Jose P. Rizal Around the World5518 Words   |  23 Pagessquad and on the other side is one of h is poems. 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Reasons Why Investment Trusts Trade at a Discount Free Essays

Abstract The fact that investment trusts and close-end funds in general trade at a discount has elicited debates among financial scholars and practitioners, often referred to as the closed-end puzzle. Based on this, this paper explores and explains some of the reasons that investment trusts trade at a discount. It also provides an in-depth explanation of characteristics of close-ended funds and conditions that lead to the classification of the share price as either a discount or a premium. We will write a custom essay sample on Reasons Why Investment Trusts Trade at a Discount or any similar topic only for you Order Now Investment trusts trading at a discount are those trading at prices that are below their net asset value. Those trading at a price higher than the net asset value are considered as being sold at a premium. Some of the main reasons that are explored in this paper include miscalculation of the net asset values of the investment trust, taxes on realized capital gains, agency costs, managerial abilities and investor sentiment. Even with the explanations that are provided in this paper, the closed-end fund prize puzzle continues to be debated upon and researched. Introduction The fact that investment trusts often trade at a discount is an aspect that has drawn interests from academics and practitioners in the field of finance. To have a better understanding of these reasons, it is ideal to provide an exhaustive definition of investment trusts. Investment trusts, which are typical to the United Kingdom, are defined by Barnhart and Rosenstein (2010) as types of investment firms that are formed with the primary aim of holding securities for other companies and the obtainment of capital from the public issue of shares trading on the stock market. They are also referred to as closed-end funds because they only offer a fixed quantity of shares that new investors can purchase from already existing shareholders (Hartzell et al., 2006). The prices of shares of investment trusts are determined by the forces of supply and demand in the share market. As a consequence, there are incidents where the price of a share may either be higher or lower than its net asset valu e. Whenever a share trades at a price that is higher than its net asset value, it is considered to be trading at a premium. On the contrary, if a share trades at a value that is lower that its net asset value, it is considered to be trading at a discount (Berk Stanton, 2007). In this regard, this report intends to discuss reasons why they trade at a discount. Reasons for discounting Investment Trusts One main characteristic of investment trusts and closed-end funds in general is the fact that they are permanent capital ventures and thus, the shares’ supply is fixed (Chan et al., 2008). Numerous attempts that have been made by researchers and practitioners to explain the investment trust discounts, and have resulted in conflicting results, commonly referred to as the closed-end fund puzzle. Even though these funds are known to trade at discounts, it is important to note that newly opened investment trusts and closed-end funds in general, usually begin trading at a premium of approximately 10% of their net asset value. After their initial premium trading, they shift towards trading at a discount that is at average rate of 10% within the first 120 days. After which, discounts remain substantial. In case closed-end funds are closed or terminated, there is an increase in their share prices, which in turn eliminates the existent discounts (Cherkes et al., 2009). Explanations for investment trust discounts that have been made by researchers include the risk of liquidity, the past and future performance of shares on the market and the miscalculation of the fund’s net asset value. Investor sentiment is also another reason for discount trading in investment trusts (Yanran Liyan, 2007). This section intends to provide a more in-depth discussion of these reasons. Misestimating the Net Asset Value (NAV) This reason has been pointed out by Halkos and Krintas (2006), who argue that such miscalculations of the NAV can result from a possible accumulation of capital gains illiquid assets that had not been realized. The reason why funds with high capital appreciations that have been unrealized ought to trade at a discounted share price is that potential holders of such funds will assume a potential tax liability. In a research that was carried out by Kousenidis et al. (2011) on the effect of liquidity on closed-end funds, he established that there is a possibility of illiquid assets to be traded at a discount to provide higher expected returns. In support of inaccuracy of NAV measurement as a reason for discounts in closed-end fund trading, Yanran and Liyan(2007)suggested that when closed-end funds own large amounts illiquid assets or restricted stock that are not fairly trading in the market, their NAVs can fail to provide an accurate reflection of their true value. As a consequence of this, the shares might either trade at a lower or higher value than the NAV. Investment trust discounts are also affected by restricted stock holdings. However, given that such holdings are often quite small or at a zero value, they do not hold as valid reasons for investment trusts trading at a discount. For investment trusts, there is usually no assurance that there will always be an available market. Therefore, this lack of an assured redemption of shares makes their valuation to be discounted. In addition to this, investment trusts that hold relatively liquid securities are valued lower than their net asset values (NAVs) at the marketpla ce (Cherkes et al., 2009). Putting appropriate measures in place to avoid miscalculation of the trust net asset value is vital to solve this issue. Agency Costs and Managerial Ability Discounts in closed-end funds could be a reflection of poor performance in the management of the fund or an overcharge of management fees (Bradley et al., 2010). Agency costs may also vary according to the agency issues or conflicts that may occur due to different interests between agents and principals. Managerial abilities have also been listed by researchers as being among the main factors that determine whether investment trusts can trade at a premium or a discount. The theory that investment trusts can trade at a discount if the managers charge a fee was originally proposed by Boudreaux in 1973 (Berk Stanton, 2007). He suggested that if fund managers charge investors a fee but fail to add value to their investments, then the value of the fund is likely to be less than its NAV. In a case where managers add value to the investment trust, the reason why it might trade at a discount is when investors are made to believe that the funds’ managers are not good at investing thei r funds. If investors believe that their money is being managed by people who are good at selecting viable investments, then the fund will trade at a premium. In a research carried out on the ownership of closed-end funds Cherkes et al.(2009) established that investment trusts with larger percentage of insider ownership are likely to trade at higher discounts. This is because investors of funds that are selling at higher discounts stand a chance of receiving windfall gains in case the funds undergo immediate liquidation at their net asset value. He also established that higher expense ratios lead to higher discounts of funds because management fees are considered as being deadweight losses. Thus, discounts are used to represent the capitalization of the management fees value. Management of trusts also affects their future performances in the market, which also determine whether investment trusts are to be traded at a discount or premium. Halkos and Krintas (2006) argue that in cases where investment trusts are managed in a highly professional manner and with a positive track record, investors may have the will to pay a premium for a share of the funds. This is also due to the fact that such trusts are often expected to maintain their superior performances in future. On the other hand, funds that are expected to underperform in the market are expected to be traded at higher discounts, mainly because of the scepticism that potential investors may have for the fund (Berk Stanton, 2007). Estimation of future performance of investment trusts can be done by comparing trends in the NAV, which are estimated on a frequent basis. It can also be done by evaluating the managerial capabilities of the fund. It can be thus argued that investment trusts whose management has a good reputation tend to perform well in the market and therefore, trade at a premium. On the contrary, poorly managed trusts fail to thrive in the market and therefore, are likely to trade at a discount. Taxes Another reason why investment trusts trade at a discount is taxes. According to Jin(2006), full taxes on the realized capital gains of a fund are paid for by the current shareholders, even though the highest percentage of their gains was accumulated before the investors bought the shares. Based on this, it can be argued that funds whose accumulated gains are large ought to trade at a price lower than their NAVs also suggests that investment trusts that have a high appreciation of unrealized capital sell at discounts because holders of such funds assume potential tax liabilities that depend on the holding periods of the investors. Berk and Stanton (2007) posit that discounts in closed-end funds are partially caused by the fact that investors usually lose valuable opportunities to trade tax because of holding shares in closed-end funds. Some of the tax trading approaches include individual portfolio movement. On comparing British and U.S. closed-end funds, Cherkes et al.(2009) establis hed that British funds do not have the freedom of distributing capital gains as the US funds do. In addition, shareholders have no liability in case the invested capital gains tax, except if they decide to put the holdings that they have in the fund up for sale. Yet U.S. and British closed-end funds behave in a quite similar manner. Thus, it can be concluded that discounts in investment trusts and closed-end funds cannot be explained based on country-specific tax factors. Investor Sentiment Many researchers have focused on the aspect of investor sentiment as a reason for discounts in investment trust trading. This hypothesis was proposed Lee, Shleifer and Thaler in 1991 (Yanran Liyan, 2007). According to them, premiums and discounts in closed-end funds are determined by the attitudes of opinions that investors have about them. To explain this hypothesis, two kinds of investors are identified. These are the noise investors and rational investors. Whereas the expectations of rational investors on their asset returns are rational, noise investors’ expectations are influenced by sentiment. They have the tendency of either overestimating or underestimating the expected returns on investment. Therefore, when investment trust shares are traded, noisy and rational investors make their investments based on their respective judgments. Due to the risk associated with assets and the fact that every investor is risk averse, closed-end funds ought to trade at equilibrium pric es that reflect opinions of the noisy and rational investors, which are often discounts. A proposal was made by Halkos and Krintas (2006) that noisy investors tend to concentrate more on the closed-end fund ownership than on the ownership of the underlying assets of the funds. Pessimism by noise traders on the future of fund drives down its price to a value lower than its NAV. This causes rational investors to avoid the buying the fund’s shares because of the risks associated with trading the funds at a discount. Chan et al. (2008) also argue that the sentiment of noise traders is stochastic and, therefore, cannot be accurately predicted by rational traders. Particularly, it is impossible for rational investors to make a perfect forecast whether noise investors will either be pessimistic or optimistic at the time that they intend to sell their assets. Due to the fact that rational traders are careful about the prices with which they will resale their assets, the unpredictable nature of noise traders’ sentiment increases the level of risk on the assets they intend to trade (Kousenidis et al., 2011). The biggest risk associated with noise investors is that they will be pessimistic at the time when rational investors intend to sell their assets, causing a drop in prices. Since there is always a risk of an adverse sentiment shift, the possibility of trading shares at a discount is always existent (Yanran Liyan, 2007). Conclusion This paper has provided an in-depth explanation of some of the reasons why investment trusts usually trade at a discount. Apart from this, other aspects of investment trusts have been explained. One of the main characteristics of investment trusts that has guided the establishment of reasons discussed in this paper is that it is a closed-end fund. This means that supply of shares is fixed, regardless of the market dynamics. Therefore, fluctuations of these funds that result into premiums or discounts are mainly caused by demand factors. The main reasons why investment trusts trade at discounts include the attitudes that investors have on the fund, commonly referred to as investor sentiment, agency costs and managerial abilities, taxes and miscalculation of the net asset value of the fund. However, the factor that is contented upon by most researchers in this field of finance is investor sentiment, which is a behavioural approach of understanding this concept. Some of the other reason s that have been cited in several other researchers include the institutional ownership and performance of the trust in the market. In future research, a more specific research could be carried out by focusing on a specific investment trust in the UK. References Barnhart, S.W. Rosenstein, S., 2010. Exchange?Traded Fund Introductions and Closed?End Fund Discounts and Volume. Financial Review, 45(4), pp.973-94. Berk, J.B. Stanton, R., 2007. Managerial Ability, Compensation, and the Closed?End Fund Discount. The Journal of Finance, 62(2), pp.529-56. Bradley, M., Brav, A., Goldstein, I. Jiang, W., 2010. Activist arbitrage: A study of open-ending attempts of closed-end funds. Journal of Financial Economics, 95(1), pp.1-19. Chan, J.S., Jain, R. Xia, Y., 2008. Market segmentation, liquidity spillover, and closed-end country fund discounts. Journal of Financial Markets, 11(4), pp.377-99. Cherkes, M., Sagi, J. Stanton, R., 2009. A liquidity-based theory of closed-end funds. Review of Financial Studies, 22(1), pp.257-97. Halkos, G.E. Krintas, T.N., 2006. Behavioural and fundamental explanations of discounts on closed end funds: an empirical analysis. Applied Financial Economics, 16(5), pp.395-404. Hartzell, J.C., Sun, L. Titman, S., 2006. The effect of corporate governance on investment: evidence from real estate investment trusts. Real Estate Economics, 34(3), pp.343-76. Jin, L., 2006. Capital gains tax overhang and price pressure. The Journal of Finance, 61(3), pp.1399-431. Kousenidis, D.V., Maditinos, D.I. Sevic, Z., 2011. Premium/Discount Of Closed-End Funds As A Measure Of Investor Sentiment: Evidence From Greece. Journal of Applied Business Research, 27(4), pp.29-52. Yanran, W. Liyan, H., 2007. Imperfect Rationality, Sentiment and Closed end fund Puzzle. Economic Research Journal, 3, pp.117-29. How to cite Reasons Why Investment Trusts Trade at a Discount, Essay examples

Project Management Methodologies Processing-Myassignmenthelp.Com

Question: Discuss About The Project Management Methodologies Processing? Answer: Introduction Project methodologies help in processing the project and ensure that all its requirements could get fulfilled. Methodologies provide a direction to the project manager with the effect of which he performs all the tasks in the way in which they are required. These methodologies helps in managing the work in a more refined way and ensures that risk of uncertainties could get mitigated which could occur in near future. There are various set of methodologies available in which it becomes necessary that the manager of the project should choose the most suitable as well as relevant one. Failing to do so will have a direct impact on the project and so the project will move in the wrong direction. Hence, a report is developed which will help in availing proper set of information related with various methodologies and which methodology should be used in which type of project. Project Methodologies The methods which help in providing direction to the project and ensure that the project could get completed within the budget and deadline are known as project methodologies (Edkins, Kurul, Maytorena-Sanchez Rintala, 2007). Project principles are being defined by the project methodologies also it helps sin providing a set direction to the team working on the project so that they could process the project in a smooth way and could provide quality to the same. Types Of Project Methodologies Project requires that an appropriate and relevant set of method should be applied so that it could get completed with quality and within the budget and time decided. In this it becomes necessary that a project manager should use appropriate project methodology (Crowder Friess, 2013). There are various types project methodologies available which helps in managing the project. Hence these methodologies are: Agile Method: Agile method is a traditional method which ensures that a collaboration of all the project requirements could be done and these appropriate resources could be availed to fulfill those requirements. Scrum Method: Scrum method is the method which helps in delivering all set of requirements whether they are small, cross functional, self managing (Rozenes, 2011). This helps in processing the project in a smooth manner as all the aspects are decided well in advance only and all the requirements get fulfilled. Kanban Method: Kanban method is used by the project manager so as to ensure that the project could get completed in a fast manner. It helps in increasing the visibility of the project and helps in completing the same in a fast way. Lean Method: Lean method is used to find the shortest way out to complete the project (Rasnacis Berzisa, 2015). This method helps in completing the project in lesser cost by using the best ways to complete the same. Waterfall Method: Waterfall method is a method in which a step by step process is developed which helps in fulfilling the requirements of the project. PRINCE2: PRINCE2 is the method in which control techniques are applied so as to manage the requirements of the project (Pathak Saxena, 2012). PMIS PMBOK: There are certain universal standards which are set; hence this method helps in ensuring that these standards remain maintained so as to manage the project. Comparison Between Agile And Waterfall Both the methods help in managing the project requirements and also are the traditional methods used to manage the projects. Deadline is determined in Agile as well as Waterfall method which helps in completing the project tasks within the prescribed time. Full proof plan is developed in agile method to complete the project and it helps in completing the same with quality (Layton, 2012). Waterfall method uses step by step process to complete the project Agile Lifecycle (Edkins, Kurul, Maytorena-Sanchez Rintala, 2007) Above is the lifecycle of agile methodology which includes all the steps which are being followed in it. It includes initiation stage of the project to its completion and development stage. Waterfall Lifecycle (Crowder Friess, 2013) The waterfall model shown in the above image helps in understanding that what are the steps which are involved in project process. Waterfall method is a very simple and effective method which could be applied to the project. Conclusion With the help of the report developed it could be concluded that to complete the project one of the most important aspects which is required to complete the project are the methodologies. Using appropriate project methodology will help in delivering quality and will ensure to provide better support with the effect of which project could get completed in an effective as well as efficient way. References Crowder, J., Friess, S. (2013).Systems engineering agile design methodologies. New York, NY: Springer. Edkins, A., Kurul, E., Maytorena-Sanchez, E., Rintala, K. (2007). The application of cognitive mapping methodologies in project management research.International Journal Of Project Management,25(8), 762-772. Layton, M. (2012).Agile project management for dummies. Hoboken, N.J.: Wiley. Pathak, S., Saxena, P. (2012). Hybrid Methodology Involving Scrum and Waterfall Model towards the Software Project Development in Academic Knowledge Centers.International Journal Of Evaluation And Research In Education (IJERE),1(1), 4-6. Rasnacis, A., Berzisa, S. (2015). Adaptation of Agile Project Management Methodology for Project Team.Information Technology And Management Science,18(1), 128-129. Rozenes, S. (2011). The Impact of Project Management Methodologies on Project Performance.International Journal Of Information Technology Project Management,2(2), 64-73.