NGOs and Environmental politics

NGOs and Environmental politics Introduction Generally, human beings attach great importance to the environment since their means of living and quality of life rely on it. As the environmental threats increases, so do the attempts to safeguard environmental values[1].Advertising We will write a custom research paper sample on NGOs and Environmental politics specifically for you for only $16.05 $11/page Learn More Environmental politics are interested in the manner in which individuals arrange themselves systematically and configure activities to defend their interest in the environment. It takes into account the vibrancy of social movements, organizations and state machineries, and how they work together[2]. The subject of environmental conservation poses an exceptional test to politics. Among them is the transnational nature of the ecological trend. In other words, environmental processes go beyond national boundaries. For example, countries along the coastal line share the same waters an d fish stocks[3]. Conflicts and apathy have often emerged due to disparities in regional or international environmental concerns and the current political structures and boundaries (Walters, 2004, p. 2). The gains of economic development characteristically accrue to one country or region, yet the negative environmental impact of such development is normally transferred to another country or region, in terms of polluted air and water. This provides less motivation to control pollution from its origin. In addition, the administration may be less obliged to impose penalties on the industries concerned when it is clear that the pollution takes place outside their jurisdiction[4]. History has shown that political engagements in ecological affairs are capricious and diminishes with time, and development varies from additional to groundbreaking depending on the background and prospect[5]. One analyst once described the history of global environmental action as a target that appears impossi ble to achieve at the moment. For the above reasons, environmental politics have always relied strongly on chronological and case study analysis[6]. This research paper will explore the role played by Non-Governmental Organizations (NGO’s) in environmental matters and explain why they are the best to deal with global environmental challenges. First, the study will start by examining the chronology of NGO’s in matters of environmental politics. The research will be based on different premises and concepts and key arguments between different authors and their academic positions.Advertising Looking for research paper on environmental studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More The Chronology of environmentalist NGO’s In order to acknowledge the significance of NGO in global environmental actions it is important to understand what an NGO is because a wide range of entities exist. According to Hrabanski and others, organizations vary in accordance with the size, composition, sources of funds, beliefs, goals, operational scope and activities[7]. DolÃ… ¡ak defines an NGO as private, non profit-making, professional entity with a characteristic official character, concerned with the general well being of the people and societal goals. Societal goal in this case relates to issues of environment, whereas characteristic official character relates refers to official registration[8]. The history of NGOs is somehow ambiguous. The first NGOs were created by elite conservationist in U.S and Europe to prevent extinction of certain animal species and to idealize environment[9]. They assumed an ethical politics of environmental change by emphasizing on how the environment is supposed to look like through art and literature and advocating for the conservation of natural ecosystem. For example, Sutter shows in his description of the wilderness movement how the Americans in the early 20th century fe ared the use of automobiles in wilderness excursion. In other words, they feared that the use of automobiles will lead to exploration of remote areas and degradation of the forest. In addition, the creation of conservation NGOs reflected the societal response towards ecological destruction under the capitalism[10]. In the mid 20th century, the ecological concerns together with the emerging generational activists transformed the movement, thus providing a fresh meaning to NGOs. The new NGOs became green thinkers, which was ostensibly the organizational expression of political progress. Many literatures tended to analyze this new thinking in terms of green philosophy and often in a principled manner. This is because NGO’s formed during this era had to confront numerous environmental challenges. For example, Greenpeace (established in 1971 in Toronto, Canada) and Friends of the Earth (established in the late 1960s in U.S) captured the world attention in their campaigns to stop W haling and proliferation of nuclear weapons respectively. In addition, those who were involved in such campaigns were very youthful, energetic and confrontational. Generally, the new NGO’s were viewed as an embodiment of radical forms of environmentalism. They started as small groups of protesters to become colossal global entities that fought nearly all environmental challenges. A number of authors catalogued how these NGO’s had transformed into international protest organizations[11].Advertising We will write a custom research paper sample on NGOs and Environmental politics specifically for you for only $16.05 $11/page Learn More Many academicians shun such literatures; yet they often share the fundamental assumption regarding the dogmatic significance of these organizations as the foundation of contemporary environmentalism. Some of the writers have explained the growth in NGO’s on political movements and demonstration influenced by models egalitarianism, mobilization of resources and traits of a social pressure group[12]. Nowadays, NGO’s have changed in structure and practice. Most of their activities are currently centred on people’s means of living and acknowledging the linkage between people and the environment. The model examples are Philippine Non-Governmental Organizations which have been vocal on matters pertaining to sustainable development. In addition, the current NGOs have usually played the role of civil society. For this reason, NGOs have become ideological actors that promote social justice and democracy[13]. A number of authors have probed the political innovativeness and vibrancy of the NGO-led civil society that advances novel forms of interaction between communities and the environment. Their studies acknowledge the significant role played by the NGO in the conservation and protection of international priceless ecological public goods. In addition, they recognize the role played by NGO’s in the transformation of transnational relations through civil action and global environmental treaties[14]. Suitability of NGO’s in environmental politics Even though the arguments that the nation states are slowly losing their significance are impulsive, the influence of NGO’s in the global arena is growing at an alarming rate. There is no other field of politics that NGOs have gained more influence than in the field of environmental politics. Many NGOs nowadays command huge amounts of resources and have a large pool of knowledgeable and very much trained professional staff. In addition, they have a huge network across the globe[15]. These NGO’s wield massive influence on matters of public policy both locally and internationally. Whether these policies are in the form of the provision of clean water to local communities, investigating the environmental activities of large transnational corporations, or representing the interest of the underpri vileged at major conferences, the role of the NGOs can no longer be ignored. As a matter of fact, NGOs are exhibiting a growing eagerness to circumvent state structures to represent matters of great concern. They normally pick up where state actors have failed or are still hesitant[16]. Political and environmental experts foresee the role of NGOs in environmental politics increasing in the future[17]. In the last four decades, the world has witnessed an unprecedented increase in unconditional trade and in some cases the economic size of transnational corporations has surpassed the GDP of foreign countries in which they operate.Advertising Looking for research paper on environmental studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More In the current competitive global market, some governments have appeared to bend investment laws to attract foreign investment, that is, they often embrace market-based and non-mandatory approaches. At the same time, external pressures to match the domestic standards and regulations with the international policies are increasing. As a result, the reconciliation of these standards and regulations with environmental matters has become a major challenge for national government. Particularly, the management of the effects of trade and investment on the environment has become very challenging for less industrialized nations. This necessitates the role of NGOs in the global environmental protection[18]. Additionally, less developed economies are justifiably keen to attract foreign investors in their country, but feeble institutions and lack of political good will mean that environmental standards and regulations will not be strictly enforced. On a positive note, transnational corporations normally bring with them state of the art technologies which are more environmentally friendly than the local ones. However, the tempo of economic transformation in the less developed economies is shocking and devastating in its effects[19]. Furthermore, environmental and development challenges facing the emerging economic powers like India and China is worrying the international community. At the moment, the Western nations are not certain of their future without the involvement of these countries in the global environmental protection and conservation[20]. The local and international courts have become a battleground between the NGOs and the government on environmental matters. Irritated over alleged backtracking by the regimes on environmental obligations, NGOs have often used the legal channel to pressurize the government to apply the current laws on environmental protection and more uncompromisingly take legal action against the lawbreakers. In addition, they have been using t he courts as an arbitrator of crucial constitutional matters, for instance, the rights of citizens to clean environment[21]. According to Dobson, the government has taken several actions to tackle the current environmental challenges. In the 60s and 70s, the strategy used was based on stringent regulatory measures, where standards are set and implementation is backed by stern warnings. This approach proved to be successful and mainly relied on the use of eco-friendly technologies. However, with the competitive pressure of liberalization, governments were forced to come up with strategies that are bendable and less costly. This is why the NGOs have recently become more popular since they make sure that the governments do not go to an extreme level in trying to woo the investors at the expense of environmental protection and conservation[22]. Last but not least, NGOs have recently adopted consumer boycotts as a strategy to amend organizational and statutory policies and some, for inst ance, Greenpeace, have set their own standards for certain products[23]. To sum up, the research paper was to a certain extent selective in its coverage-after all, environmental politics is a new but broad and complex subject. At the risk of trying to be as simple as possible, the study explored the NGO as an actor in environmental politics and their growing popularity in the environmental matters. Nonetheless, NGOs also have a couple of flaws. A number of them have often used the public to attain cheap publicity. In addition, NGO’s have been used to siphon money from foreign donors by corrupt individuals and terrorist organizations. All in all, the role played by the NGOs in socioeconomic, environmental, and political matters cannot be underestimated[24]. Conclusion Over the last 50 years, environmental subjects have been in the central state of major discussions. This is attributed to the fact that human beings attach great importance to the environment since their means of living and quality of life rely on it. In addition, conflicts and apathy have often emerged due to disparities in regional or international environmental concerns and the current political structures and boundaries. As a result, attempts to safeguard environmental values have been on the increase. There are numerous actors in the field of environmental politics; however, NGOs have become the most prominent. This is because they command huge amounts of resources, have a large pool of knowledgeable and well trained professional staff, and have a huge network across the globe. In addition, the NGOs normally represent the poor and underprivileged at the global arena. Locally, the NGOs have gained popularity because they have taken the role of the civil society and currently acting as government watchdogs in socioeconomic, political, and environmental matters. In the current competitive global market, some governments tend to bend investment laws to attract foreign investment, that is, they often embrace market-based and non-mandatory approaches. The NGOs make sure that the governments do not go to an extreme level trying to woo the investors at the expense of environmental protection and conservation. They have been driving their agenda in the street, in the forums and in the court of law. Even though they have been criticized from different quotas for a number of vices, the role played by NGOs in both local and global environmental politics cannot be underestimated. Bibliography Adams, W M J, Hutton, ‘People, parks and poverty: political ecology and biodiversity conservation,’ Conservation and Society, vol. 5, 2007, pp. 147–183. Barry, J EG, Frankland, International encyclopedia of environmental politics, London Routledge, 2002. BÃ ¶hmelt, T C, Betzold, ‘The impact of environmental interest groups in international negotiations: Do NGOs induce stronger environmental commitments?’ International Environmental Agreements: Politic s, Law and Economics, vol.13, no.2, 2013, pp. 127-151. DolÃ… ¡ak, N, ‘Climate Change Policies in the Transitional Economies of Europe and Eurasia: The Role of NGOs’, International Journal of Voluntary and Nonprofit Organizations, vol. 24, no. 2, 2013, pp. 382-824. Dryzek, J S D, Schlosberg, Debating the earth: The environmental politics Reader, Oxford, Oxford University Press, 1998. Hall, NL R, Taplin, ‘Environmental Nonprofit Campaigns and State Competition: Influences on Climate Policy in California’, International Journal of Voluntary and Nonprofit Organizations, vol. 21, no.1, 2010, pp. 62-81. Hrabanski, M, C, Bidaud, J, Le Coq P, MÃ ©ral, ‘Environmental NGOs, policy entrepreneurs of market-based instruments for ecosystem services? A comparison of Costa Rica, Madagascar and France’, Forest Policy and Economics, vol. 37, 2013, pp.124-132. Sutter, P S, Driven wild: how the fight against automobiles launched the modern wilderness movement, Seattle, WA, University of Washington Press, 2002. Dobson, A, Green political thought, 4th edn, London, UK, Routledge, 2007. Vig, NJ ME Kraft, Environmental policy: New directions in the 21st century, 5th edn, Washington, D.C, Congressional Quarterly Press, 2002. Vormedal, I, The Influence of Business and Industry NGOs in the Negotiation of the Kyoto Mechanisms: the Case of Carbon Capture and Storage in the CDM, Global Environmental Politics, vol. 8, no. 4, 2010, pp.36-65. Weyler, R, Greenpeace: the inside story, Vancouver, Canada, Raincoast Books, 2004. Walters, BB, Environmental Politics, Mount Allison University, Sackville, 2004. Footnotes BB, Walters, Environmental Politics, Sackville, Mount Allison University, 2004. JS, Dryzek D, Schlosberg, Debating the earth: The environmental politics Reader, Oxford, Oxford University Press, 1998. J,Barry EG, Frankland, International encyclopedia of environmental politics, LondonRoutledge, 2002. J,Barry EG, Frankland, International enc yclopedia of environmental politics, London Routledge, 2002. JS, Dryzek D, Schlosberg, Debating the earth: The environmental politics Reader, Oxford, Oxford University Press, 1998. Ibid. M, Hrabanski, C, Bidaud, J, Le Coq P, MÃ ©ral, ‘Environmental NGOs, policy entrepreneurs of market-based instruments for ecosystem services? A comparison of Costa Rica, Madagascar and France’, Forest Policy and Economics, vol. 37, 2013, pp.124-132. N, DolÃ… ¡ak, ‘Climate Change Policies in the Transitional Economies of Europe and Eurasia: The Role of NGOs’, International Journal of Voluntary and Nonprofit Organizations, vol. 24, no. 2, 2013, pp. 382-824. WM, Adams J, Hutton ‘People, parks and poverty: political ecology and biodiversity conservation,’ Conservation and Society, vol. 5, 2007, pp. 147–183. PS, Sutter, Driven wild: how the fight against automobiles launched the modern wilderness movement, Seattle, WA, University of Washington Press, 2002. R, Weyler, Greenpeace: the inside story, Vancouver, Canada, Raincoast Books, 2004. Ibid. T, BÃ ¶hmelt C, Betzold, ‘The impact of environmental interest groups in international negotiations: Do NGOs induce stronger environmental commitments?’ International Environmental Agreements: Politics, Law and Economics, vol.13, no.2, 2013, pp. 127-151. I, Vormedal, The Influence of Business and Industry NGOs in the Negotiation of the Kyoto Mechanisms: the Case of Carbon Capture and Storage in the CDM, Global Environmental Politics, vol. 8, no. 4, 2010, pp.36-65. I, Vormedal, The Influence of Business and Industry NGOs in the Negotiation of the Kyoto Mechanisms: the Case of Carbon Capture and Storage in the CDM, Global Environmental Politics, vol. 8, no. 4, 2010, pp.36-65. T, BÃ ¶hmelt C, Betzold, ‘The impact of environmental interest groups in international negotiations: Do NGOs induce stronger environmental commitments?’ International Environmental Agreements: P olitics, Law and Economics, vol.13, no.2, 2013, pp. 127-151. NJ, Vig ME Kraft, Environmental policy: New directions in the 21st century, 5th edn, Washington, D.C, Congressional Quarterly Press, 2002. NL, Hall R, Taplin 2010, ‘Environmental Nonprofit Campaigns and State Competition: Influences on Climate Policy in California’, International Journal of Voluntary and Nonprofit Organizations, vol. 21, no.1, 2010, pp. 62-81. M, Hrabanski, C, Bidaud, J, Le Coq P, MÃ ©ral, ‘Environmental NGOs, policy entrepreneurs of market-based instruments for ecosystem services? A comparison of Costa Rica, Madagascar and France’, Forest Policy and Economics, vol. 37, 2013, pp.124-132. Ibid. N, DolÃ… ¡ak, ‘Climate Change Policies in the Transitional Economies of Europe and Eurasia: The Role of NGOs’, International Journal of Voluntary and Nonprofit Organizations, vol. 24, no. 2, 2013, pp. 382-824. A, Dobson, Green political thought, 4th edn, London, UK, Routledg e, 2007. Ibid. JS, Dryzek D, Schlosberg, Debating the earth: The environmental politics Reader, Oxford, Oxford University Press, 1998.

Legal Analysis Paper Essay Example | Topics and Well Written Essays - 500 words

Legal Analysis Paper - Essay Example ecently, most employers have opted for the â€Å"covenant not to compete†, however strict measures have been placed in the rule of law which generally disapproves right to earn a living by former employee which is highly upheld in the courts. This paper generally intends to look into circumstances where court of law can enforce non-competition agreement and the relevant competing policy that are at stake. Also solution offered by the non-compete contract. Enough consideration to encourage a non-competition agreement comes in a variety of forms that is; payments to the employees, previous employment and under certain circumstances of continued employment and also intangibles like; knowledge, skills and professional status. Courts enforce non-competition agreement when; there is necessity to protect certain employer interest; agreement is in reasonable time and scope (period of six months to one year when agreement is to last and where good will is the only interest at stake and the employees customer contract is limited to a specific region); it is consistent with public interest (Garmaise, 2009). Courts uphold this agreement in two major protectable employer interests, an employer’s relationship with customers, clients and venders (i.e. good will), trade secrets and other confidential business information. Conflicts of interest in non-competitive policy fall under two major stakes, that is; contractual limitations, where involved employee sign a clear written agreement promising to avoid doing certain things and agreeing to pay for damages in event of breach of agreement. Policy guidelines; where employer stipulates his/her expectation from employee (Estlund, 380). Protection of legitimate interest of the employer, limiting the undue hardship to the employee and protection -of public from any harm are key policy interest to be considered. Protection of employer’s interest is upheld through requirements by the employees not leak trade secrets and confidential

Wal-Marts shift to Radio Frequency Identification Essay

Wal-Marts shift to Radio Frequency Identification - Essay Example With money, people could easily purchase exactly what they wanted or needed. This continued on for a few centuries and is still in use in the world though not in the same sense as it used to be before. Today science and technology have revolutionized each and every aspect of human life. Shopping and business are no exceptions-they too have been profoundly modified by technology. Credit cards, billing systems, shopping on the web, internet bank accounts and the system of barcodes on products are some of the examples that depict the extent to which technology has penetrated into this frontier. Even though many advances have been made, global concerns are growing regarding aspects like shoplifting, piracy and misappropriation of products. To check these many solutions have been proposed like the bar code system and most recently the RFID technology. This technology has both merits and demerits as does every other technology ever conceived. Wal Mart's decision to make use of it has given it an impetus. This essay describes about the prospects and aspects of RFID technology keeping Wal Mart in the background. RFID, an emerging technology, stands for Radio Frequency Identification. ...An RFID tag is a small object, such as an adhesive sticker, that can be attached to or incorporated into a product, animal, or person. RFID tags contain antennas to enable them to receive and respond to radio-frequency queries from an RFID transceiver. Passive tags require no internal power source." The tags are generally miniaturized electronic circuits enclosed in protective cases. When they absorb signal from a reading device they get activated and send out data to the reading device. When an RFID tag passes through the electromagnetic zone, it detects the reader's activation signal. The reader decodes the data encoded in the tag's integrated circuit (silicon chip) and the data is passed to the host computer for processing(RFID: From Wikipedia, the free encyclopedia 2005). In this way details like its location etc can be ascertained by the reading device. Based on power consumption tags are classified as active or passive. Passive RFID tags have no internal power supply. They do not contain any batteries inside them. The minute electrical current induced in the antenna by the incoming radio frequency signal provides just enough power for the tag to transmit a response. Lack of an onboard power supply means that the device can be quite small and light weight: commercially available products exist that can be embedded into many products. As of 2005, the smallest such devices commercially available measured 0.4 mm 0.4 mm, which is thinner than a sheet of paper; such devices are practically invisible to the naked eye (RFID: From Wikipedia, the free encyclopedia 2005).

The Need For Depository Systems In India

The Need For Depository Systems In India With the existence of 23 recognized stock exchanges, Indian capital market has been witnessing rapid growth in recent past. However, this growth has not matched with supporting infrastructure to handle the growing volume of paper that has flooded the market choking and existing system. This has caused problems like delay in transfer, long settlement periods, bad deliveries etc. With the view to globalize Indian capital market in a real sense, the government of India has initiated a number of financial reforms that were initiated in 1991 as part of the structured reforms comprising industrial de-regulation, privatization and globalization. A thigh committee on financial system with Sh. Narsihma Rao as the chairman has set up in 1991, which made for reaching recommendations for banking sector and non-banking financial sector to improve the flexibility and operational efficiency of the markets. Securities Exchange Board of India, Reserve Bank of India, Department of Company Affairs and Ministry of Finance are the important regulatory bodies of the capital market measuring the effective and efficient functioning of the market. SEBI also constituted a number of committees such as G.S. Patel Committee to review the system of carry forward transactions in the stock exchanges, Malegram Committee to review the disclosure practices of companies in primary market, Bhave committee to examine problems pertaining to transport shares. The earlier system, a paper based mode, entails cumbersome legal formalities for the purpose of transfer of securities and settlement of transaction theorem. The earlier system suffered from the following shortcomings, thereby arising the need for depository system, these are Lack of supporting infrastructure, Problems in transactions, Delayed settlements, Soaring costs of transaction, Transactions end up as bad deliveries due to faulty compliance of paper work, mismatch of signatures on transfer deeds with specimen record of the issuer, Theft, mutilation of certificates and other irregularities. The modern system i.e. depository system is the system whereby the transfer and settlement of scrips take place not through transfer deeds and physical delivery of scrips which are traditional but through the modern system of effecting transfer of ownership of securities by means of book entry on the ledgers of the depository without physical movement of scrips. History of stock exchanges The Indian stock markets are nearly 128 years old, with the Bombay stock exchange, the oldest of them functioning since 1875. At present there are 23 recognized stock exchanges. Stock exchanges are the most perfect type of market for securities whether of government and semi-government bodies or other public bodies as also for shares purchases and sales of shares are made in the conditions of the competitions. The bargains that are struck in the trading ring by the members of the stock exchanges are at the fairest prices determined by the basic laws of supply and demand. Development in the capital market The reforms for Indian capital market is mainly focused on market regulation, primary market functioning, secondary markets trading, development of a proper debt securities trading market, development of a derivatives market (futures and options), development of an integrated national market system, technological investment in exchanges, investor protection and more foreign portfolio investment in exchanges. SEBI, the regulatory body of the capital market, has been taking various steps and has introduced various guidelines for the efficient functioning of the market and has also constituted various committees to review the existing system and suggestions for further reforms. Deficiencies in the existing system of Scrips Transfer The existing system, a paper based mode, entails cumbersome legal formalities as per section 108 of Indian Companies Act, 1956, for the purpose for transfer of securities and settlement of transaction there on. The present system suffers from the following shortcomings, thereby arising the need for depository system, these are: Lack of supporting Infrastructure Problem in transactions Global Imperatives Problems in dealing with Securities Greater mobility of Securities Cumbersome legal system Need for depository system Indian capital market has been witnessing rapid growth in recent past. However, this growth has not watched with supporting infrastructure to handle the growing volume of paper that has flooded the market, choking our existing system. This has caused problems like delay in transfers, long settlement period, high levels of failed trade and bad deliveries, high-risk exposure etc. These characteristics were normally the attributes of an under developed market. As the market grows, there is need for better system to ensure that such impediment to growth is removed. The foreign investors seeking to invest in India are also apprehensive about the reliability of the post trade settlement mechanism used in India. The biggest deterrent or bottleneck in Indian capital market was largely manual and paper based settlement system that was obsolete for a rapidly growing market. Since 1992, old trading system in Indian stock exchanges has been under constant review. The main deficiencies have been identified in 2 broad areas: The clearing and settlement system in stock exchanges whereby delivery of shares by the seller and payment by the purchaser is made and Procedure for transfer of shares in the name of the purchaser by the company. The new system has eliminated paper work, facilitated electronic book entry of the transfer of securities, permitted automatic and transparent screen based trading in securities, shorter settlement periods and improved liquidity in investment in securities. All this has given impetus to the growth of the capital market in India. The transactions in a stock exchange, earlier involved physical movement of paper (the share certificate) which first changed hand from the seller to buyer on payment of price and subsequently was sent to the company (issuer of the share) for the change of the ownership of the shares to be incorporated in the books of the company. The process of verification of the ownership of the seller and hence validity of the sale took a long time, disabling the purchaser from the selling the shares further while the shares were being transferred in his or her name. Though section 113 of the Companies Act, 1956, stipulates that the company effects the transfer within 2 m onths. In reality transferring shares in ones name took longer. This delay reduced the liquidity of the investor, as during these times, he/she cannot sell the shares. This has proved particularly inconvenient for large investors for whom fast transfers were essential to maintain the liquidity. Apart from this, physical movement of shares also meant the possibility of theft and loss of shares in transit. The magnitude of the problem has increased manifold as the daily turnover in stock exchange has increased considerably. The average daily turnover of BSE itself amounts to Rs. 500 crores with shares of more than 7500 companies, being traded by more than 650 brokers for more than 30 million investors in the country. This has necessitated the use of better and faster transfer system like computerized records as compared to the physical paper (security) Emergence of Depositories There are two depositories that have emerged in India: National Securities Depositories Limited The Honourable Union Finance Minister, Shri. P. Chidambram inaugurated NSDL as the first depository in the country on Nov 8, 1996. It has been promoted by three premier institutions in India the largest mutual fund UTI, the largest stock exchange NSE of India Ltd. Subsequently, the State Bank of India, the largest commercial bank in India has also taken up a stake in NSDL. NSDL provides for electronic ownership, holding and transfer of securities trading in electronic securities on the NSE commenced in Dec, 96 and the first settlement of transactions in electronic securities was successfully completed at NSDL on Jan 7, 1997. The stock exchange Mumbai BSE also extended the facility of trading in electronic securities from December 27, 1997. NSDL is responsible to every individual to every individual investor who holds electronic balances with the depository. The depository participant acts as an agent of NSDL for providing its services to the investors. NSDL has designed the software for the operating systems in such a way that the software systems at the depository participant office are connected. Thus, a highly integrated set up for maintenance of investor accounts through the DPs has been developed and implemented. NSDL has access to all the accounts of individual maintained by the DPs to ensure adequate control. The operating system of NSDL also maintains continuous electronic connectivity with the registrar and transfer departments/agents of the companies whose securities can be dematerialized in NSDL. To all the investors both retail and institutional, NSDL offers the following services: Maintain beneficial holdings through depository participants. Provide for dematerialization and Rematerialisation of securities Dematerialization Rematerialisation Effect account transfers for settlement of trades Allow for receipt of allotment in the electric form Providing pledging, hypothecation facilities for stocks held with it. Receive and disburse corporate actions (only securities) Central Depositories Services Limited This is the second depository after NSDL. This inter connectivity will be established prior to the commencement of business by CDSL. This will facilitate settlement and movement of assets and custody from one depository to another. CDSL has been promoted by the Stock Exchange, Mumbai (BSE), in association with Bank of India, Bank of Baroda, HDFC Bank and Stare Bank of India. It has been able to tie up with as many as 35 brokers till now. CDSL and NSDL both have signed a MoU for inter-depository connectivity on 23rd April 1999. The MoU covers the understanding between the depositories for inter-depository transfers arising out of transactions not settled through the CH/CC (off market). The procedure for inter-depository transfers between CDSL and NSDL arising out of transactions settled through a CH/CH (on market) are expected to be finalized separately. The Depositories Act, 1996 The Depositories Act makes a provision for the setting up of multiple depositories in India. The investor has been granted the option of holding securities in a physical or dematerialized from. Thus it is a matter of choice for the investor as to whether he wants to avail of depository services. The depository has been entrusted with the responsibility of indemnifying beneficial owners for any loss caused due to negligence of the depository or its participants. For holding securities in the depository, the two routes that are adopted by depositories world over as: Immobilization In this the depository holds the securities in the physical form in its own vaults, but transfer of securities takes place through book entries. Dematerialization In this the securities in physical form are shredded and corresponding credit is made in the form of electronic balances that are maintained in the depository account. The concept of a depository has made a late entry into our country so we are fortunate to have the advantage o hindsight gained from the experience of other depositories the world over as well as adopting the latest technology. Thus, the law in our country has preferred the demat route. The demat securities will be identical and interchangeable as they will not have any unique characteristics such as distinctive number of folio. The depository will facilitate dematerialization of securities. The investor has the option of holding securities in the physical form or in the depository form. He can choose not to opt for depository system by requesting issue of physical certificates. The depository will, thus provide for Rematerialisation. All rights with respect to the securities held in the depository will be with the beneficial owner (investor) and not with the depository, the depository acting as the registered owner only. When transacting through a depository, the investor will not be required to pay stamp duty on transfer of shares within the depository. The depository will interface with the investors through market intermediaries called DPs. The depository will hold beneficial owner the level in formation through its network of DPs. The depository is obliged to provide this information to the issuer company or its registrar and transfer agent at regular intervals. This will facilitate proper distribution of benefits arising out of the investors holdings such as dividend, interest, bonus and rights as on a given record date by the issuer company or its registrar and transfer agent. The SEBI Regulations, 1996 Based on the depositories ordinance, SEBI has notified regulations on 16th May 1996, which specify the norms for functioning and operations of depositories. The depository system is very similar to banking environment. Thus, while a bank performs the function of holding, transferring and allowing withdrawal of funds, a depository performs the function of holding, transferring and allowing withdrawal of securities. A bank reaches out to the masses by setting up its branches. Similarly, a depository reaches out to the general investor through its agents that are the DPs. The regulations have selected various categories of market participants, who are eligible to become DPs and have a well-established customer interface network and are therefore the ideal choice to become the agents of a depository. The categories are: Public Financial Institutions Scheduled Banks RBI approved Foreign Banks operating in India. State Financial Corporations Certified custodians of securities Clearing corporations of stock exchanges Registered stock brokers Non-Banking Financial Companies. Entities desiring to become DPs must apply to the depository and are required to be recommended to SEBI by the depository. If approved and registered by the SEBI, the DP can be admitted on to the depository. The depository has to formulate its own set of criteria for selection of participants. The regulations require the depository to list out through its byelaws the securities, which are eligible to be admitted to depository for dematerialization. Equity shares, debentures, warrant, bonds, units of mutual funds etc. are part of list of eligible securities. The depository is empowered to set its own criteria for selection of securities and make securities eligible to be maintained in the form of electronic holdings on the holdings of the depository. Agreements should be entered into by the following entities: Depository and every participant Participant and every client Depository, issuer company and the registrar The drafts of these agreements are to be included in the byelaws and to be approved by SEBI. It is important that participants are connected to the depository through a continuous electronic communication system. The same is true for registrars or corporates communicating with the depository. In addition, for enabling settlements of securities, the depository is also to be connected electronically to clearing entities. This imposes the need for automatic data processing systems with necessary security features and forms one of the criteria for selecting securities for dematerialization. The depository required to ensure that sufficient safeguards are there to protect the data available with it and with the participants. To reduce risk in operations, the regulations stipulate that the depository and DPs must provide for, adequate insurance cover as well. Since the depository acts as the source of information for the registrar in terms of providing beneficial ownership details, the depository has to reconcile data internally with the participants to ensure validity of data. The regulations require this reconciliation to be carried out on a daily basis. Further the depositories and the registrar will also reconcile balances on a daily basis and periodic basis. SHOWING THE DEPOSITORY INTERFACE WITH THE INVESTOR AND THEIR BUSINESS PARTNERS NSDL ISSUER RT AGENT CLEARING HOUSE CLEARING MEMBER DEPOSITORY PARTICIPANT STOCK EXCHANGE TRADING MEMBER INVESTOR NSDL is electronically linked to its DPs, the RT department of the issuer co. and the clearing corporation/ clearing house of the stock exchange. This is done in order to facilitate the settlement of trades and to perform a dealing reconciliation of all the accounts balances with NSDL. The entire system is called the NEST (National Electronic Settlement Transfer) system. Thus a higher integrated set up for maintenance of investor accounts has been developed and implemented. Constituents of Depository System Depository Depository Participant Beneficial Owner Issuer Benefits/Advantages of Depository System Benefits of depository system are: To the Nation Growing and more liquid capital markets to provide financing and development stemming from more efficient post trade systems with reduced transactions costs. Increase in competitiveness in the International market place and attracting investors and fund managers by complying with stipulated international standard for and efficient and risk free trading environment. Improved prospects for privatization of public sector units by creating a conducting environment. Restoration of faith in the capital market on the participants with system to minimize settlement risk and frauds. Considerable reduction in the delay in registration which can currently impact trading. To the Investing Public Reduction of risks associated with loss, mutilations, theft and forgery or physical scrips. Elimination of financial loss owing to loss of physical scrips. Greater liquidity from speedier settlements and reduction in delays in registration. Faster receipt benefit and rights resulting from corporate action. Improved production of shareholder rights resulting from more timely communication from the issuers. Reduced transactions costs through greater efficiency. To issuer Upto date knowledge of shareholders names and addresses. Savings in costs of new issuers from reduction in printing and distribution costs. Increase in efficiency of registrars and transfer agent functions Better facilities for communication with shareholders conveying benefits of corporate actions and information notices. Improved ability to attract international investors without having to incur the expenditure of issuance in overseas market. Objectives of the study To know the perception and viewpoint of the investors regarding depository system. To know the satisfaction level of investors regarding depository services. Related Researches Alton (1994) found the principles of converting shares into dematerialized form. He also commented that with a grand start the concept of demat of shares in Indian Market is all pervasive and set to conquer the stock market. George (1996) studied the growth and the dematerialization of products and found that the concept of dematerialization is coming at a very fast pace. Kumar (1998) studied the advantages of dematerialization and opening of Demat account. He also compared the effect on trading of shares of the companies have dematerialized their shares and who have not dematerialized their shares. Mittal (1998) presented an extensive information on dematerialization of shares, their advantages, investor grievances and insurance aspect related to dematerialized shares and found that a very large potential of dematerialization of shares exists in the Indian Market. Cholamandalam (1998) conducted research on requirements to be fulfilled by a company to get its shares listed at a depository so that they can be easily dealt in dematerialized form. Hughes India Limited (1999) conducted a research to study the benefits and drawbacks, which are to be borne in mind by company that is planning to dematerialize its shares and get them registered with NSDL. Law (1999) in his article Depository Revolution has discussed that depository is not just removing fake shares and bad deliveries from the capital market but to prove a great catalyst for reform. The depository is a reality today. The concept of depository is set to revolutionize trading practices, reduce transaction costs and increase investor safety. Kumar (1998) in his Article Demat trading simpler the better has shed light on the different fees structure charged by NSDL from depository participants and by depository participants from the investors. NSDL charges nominal fees under three heads i.e. transaction fees in case of purchases, custody fees and rematerialisation fees. Gajra (1999) in his article Claim your rights has provided us the useful information that the investors get the compensation or the loss due to the depository participants mistake. The investors for protecting their return should give debit instruction to their DPs for sale at least a day or two before settlement day. Then the investor has to look for an instruction carried out properly. If he failed to get it, then he should approach NSDL, for arbitration. DPs are personally liable for their losses. This article was given in regard when SCHIL, one of the largest DPs failed to transmit instructions of its investor-clients to NSDL on time before settlement pay in. Saikia (1999) in his article Compulsory demat within a year has shed light on the views expressed by Ministry of Finance that one year has been set in adopting the full demat route for primary and secondary market shares. Research Methodology The study is based on descriptive research design. The primary data was collected and used for the research purpose. Primary data was collected by survey with the help of a questionnaire. The questionnaire was administered by the personal interview i.e. questions were asked from the respondents in a face-to-face meeting and the study was conducted with the help of pre-structured non-disguised questionnaire. Respondents were interviewed with the help of structured questionnaire. An investor residing and availing Depository Services in Ludhiana was taken as a sample. In the present study, non-probability sampling technique i.e. convenience sampling is used to collect the sample. Here in the study, population consists of all the investors of Ludhiana and a sample of investors have been taken from it. It is a convenience sampling because the respondent investors are chosen from those who happened to visit the office of a particular broker and the brokers themselves. The respondents were interviewed with a structural questionnaire by the researcher. A smaller sample but well selected sample may be superior to a larger but badly selected sample. A total of 100 respondents were selected from the city for the study. Investors ranked various advantages of depository. Rank was determined by computing the weighted average i.e. 4 points were attached to rank first, 3 points to rank second, 2 points to rank third and 1 point to rank fourth. Then for calculating ranks for various advantages, points allotted by investors were added and divided by 100 i.e. sample size. The advantage with the highest weighted average was ranked first and the advantage with the lowest weighted average was ranked fourth i.e. last. Similarly, the investors ranked problems faced by investors in depository system. Weighted average method was used. For rating the satisfaction level regarding depository services and the investors view point regarding depository system, weighted average method as well as factor analysis were used. The points were given as such. For highly satisfied +2, for satisfied +1, for indifferent 0, for dissatisfied -1 and for highly dissatisfied -2. Results of the Study Respondents Profile As per the study, majority respondents were professional i.e. 33% such as C.As, MBAs and C.S., where as 22% were post-graduates and the remaining 45% were graduates. The study found that majority of the investors i.e. 46% belonged to age group 30 or less than 40. 18% of the investors were belonging to age group 20 or less than 30, 26% of the investors were belonging to the age group 40 or less than 50 and 10% of the investors belong to the age group 50 or more. As per the study majority of the respondents i.e. 44% of the investors were found operating in the capital markets for 6 years or more. Whereas 29% of the investors have been operating for 4 years of less than 6 years, 18% have been operating for 2 years or less than 4 years and the remaining 9% have been operating for less than 2 years. As per the study, majority of the respondents had opened their demat accounts in year 2000 and 1999. The Different Sources Of Information From Where The Investors Came To Know About The Depository System. Sources of Information No. Of Investors Percentage Brokers 42 42 Friends 6 6 Newspapers Magazines 36 36 T.V. Programmes 2 2 Others 14 14 Total 100 100 As per the study, majority respondents had brokers, newspapers and magazines as the best source of information regarding depository system. The Depository Participants With Whom The Investors Had Opened Up Their Demat Account Depository Participants No. Of Investors Percentage SHCIL 30 30 Master Capital 22 22 LSE Securities 16 16 Karvy Consultants 18 18 Others 14 14 Total 100 100 The study revealed that Majority participants had opened their accounts with Stock Holding Corporation of India Limited followed by Master Capital, Karvy Consultants, LSE Securities and other depositary participants. The Reasons For Opening Demat Account With Particular DP By The Investor The respondents were asked to tick the various factors being considered for opening demat account with a particular DP. Reasons Percentage Nearness to location 15 Fast transaction 30 Infrastructure Facility 25 Good client dealing 15 Goodwill of the Organization 10 Others 05 Total 100 As per the study, the major factor contributing in selecting the depository was Fast Transaction followed by other factors such as Availability of Proper Infrastructure, Client Dealing, Goodwill of the organization, approachability etc. The Ranking Given By The Investors To Various Advantages Of Depository System Advantages Mean Scores Ranking No scope for any risk of loss, theft or fraud regarding share certificates 1.32 1 Investment is highly liquid 1.96 2 No stamp duty 3.9 4 Bad deliveries are almost eliminated 2.82 3 The study found that majority of the investors were of the view that the depository system would overcome the chances of loss, theft or fraud as a first advantage followed by other such as liquid investments, elimination of bad deliveries and absence of stamp duties. The Ranks Being Given By Investors To Different Problems Of Depository Services. Problems Mean Scores Ranking Not fully aware of the mechanism 3.64 4 Fear of enquiries from Income Tax Department 2.45 3 Increase in transactions costs 2.27 2 Difficulty in maintaining accounts 2.25 1 Increased paper work 4.39 5 As per the study the investors thought maintenance of accounts as a major problem of Depository System and ranked it at first place. The study highlighted the other problems such as increase in the cost of transaction, fear of enquiries from Income Tax Department, not full awareness about the system and increased paper work. Satisfaction Level Of The Investors Regarding Depository Services Attributes Mean Scores Satisfaction Level Dealing of DPs 1.6 Highly Satisfied Fees structure of DPs 0.94 Satisfied Service time of DPs 0.32 Indifferent Infrastructure Facilities of DPs 0.97 Satisfied Dematerialization/Rematerialisation procedure 1.14 Satisfied The study found that the investors were highly satisfied with dealing of Depository participants and satisfied from other services such as fee structure, infrastructure facilties and demateralisation/rematerialisation procedures. However, many of the respondents were found indifferent from service timings of DPs. The Investors View Regarding The Different Factors Of Depository Services Sr. No. Factors Mean Scores View Point 1 More transparency in depository system 2 Strongly Agree 2 Fear of losing physical possession of share certificates -1.36 Disagree 3 More cost involved in opening, maintaining and closing of demat account 1.05 Agree 4 Manipulation done by DPs and Brokers -0.02 Indifferent 5 Burden on small investor has been increased 0.21 Indifferent 6 Cost of Depository System matches with the revenues from it 1.22 Agree 7 Demat process is a lengthy one 1.14 Agree 8 Business for brokers has been increased 1.58 Strongly Agree 9 Need of single Depository 0.02 Indifferent 10 Demat has a bright future

Revisions of Off-Balance Sheet Financing Essay -- Business Finance

During the 1990s, the United States had one of the most successful economic periods in history. The GDP of the country increased substantially and unemployment was at a historically low level. With the success of the U.S. economy during this period spilling over into the next decade, revelations of corporate scandal and corporate governance oversight came to light. The Enron scandal of 2001 and the Wall Street Meltdown of 2008 are two noteworthy events of inadequate accounting policies that led to economic catastrophe during the past decade. The Enron Corporation‘s flawed accounting practices were perpetuated through the utilization of fraudulent special interest entities that were used to hide losses and rising debt sustained by the company during previous fiscal periods. The Wall Street Meltdown can be highly attributed to the use of mortgage backed securities and other creative investment vehicles that were distributed throughout the world as safe investments with rewarding returns. Both of these events were a product of the improper use and abuse of off-balance sheet accounting methods. The government’s reactions included the creation and revision of new and existing laws and governing bodies. As a direct result of the current corporate scandals, The Sarbanes-Oxley Act of 2002 (SOX) was created. At the time, SOX was the first and most influential financial system overhaul in response to the current wave of corporate corruption. A provision of SOX established the Public Company Accounting Oversight Board (PCAOB). The intent of SOX and its provisions were â€Å"to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes† (Sarbanes-Oxley Ac... ....R. Res. 3763, Sarbanes-Oxley Act of 2002. 107th Cong., 107-204 Public Law 116 STAT. 745 (2002) (enacted). Kermis, George F. and Marguerite D. Kermis. â€Å"Model for the Transition from Ethical Deficit to a Transparent Corporate Culture: A Response to the Financial Meltdown.† Journal of Academic and Business Ethics, Fall, 2009. Weissman, Robert, and James Donahue. "Wall Street's Best Investment: 10 Deregulatory Steps to Financial Meltdown." Multinational Monitor January/February (2009): 10-31. Jeffrey, Peter. "International Harmonization of Accounting Standards, and the Question of Off-Balance Sheet Treatment." Duke Journal of Comparative & International Law 12.341 (2002): 341-51. Feng, Mei, Gramlich, Jeffrey D. and Gupta, Sanjay, â€Å"Special Purpose Entities: Empirical Evidence on Determinants and Earnings Management.† The Accounting Review (January 9, 2006). 1-55.

Major Characteristics Of Qualitative Research Education Essay

Chapter 3 RESEARCH METHODOLOGY 3.0 Introduction In this chapter, research worker will explicate in item on how the research will be conducted. This includes the research design chosen by the research worker, the research processs, sample choice, methods of garnering informations, and methods of informations analysis used. In explicating the methods and processs employed, the research worker besides explains the principle for taking the peculiar methods and processs conducted in this research. 3.1 Research Design Patton ( 1990 ) in Fraenkel and Wallen ( 2006 ) described one of the major features of qualitative research is design flexibleness where they suggested that a qualitative research should avoid from stick on a stiff designs or state of affairs so that the state of affairs can be understood in-depth. They besides recommended a qualitative research should prosecute new waies of find that suits with the research worker involvement. From his ain reading and sentiment, the research worker would wish to specify qualitative research as a type of scientific research. It is because ; by and large scientific research consists of a proper probe that seeks for replies to a inquiry consistently by uses a predefined set of processs. In order to reply the inquiries, research worker collects grounds and produces findings that were non determined in progress and that are applicable beyond the immediate boundaries of the survey. Therefore to transport out his research qualitatively, the research worker would wish to utilize instance survey as the method for the research worker to carry on this research. Case survey is one of methods to carry on qualitative research where Robert Stake ( 1997 ) defines a instance as a delimited system as it tells a narrative about a delimited system. A system refers to a set of interconnected elements that are wholesome while bounded outlines the boundary of the system ( Holmes et al, 2008 ) . However the research worker himself need to find the instance foremost and subsequently the research worker will uses assorted informations aggregation techniques such as interviews, observation through literature, and relevant documental analysis to transport out a holistic survey of the entity. By utilizing instance survey, the research worker will really try to look into the constituents or parts that make up the system to see how they operate. By refer to this research ; the research worker will look into the scientific discipline course of study of Steiner Waldorf instruction as he will compare the course of study with Malayan scientific discipline course of study. At one manus, the research worker will look at the of import constituents of course of study of both Malaysian and Steiner Waldorf instruction. On the other manus the research worker will compare both course of studies in order to look at the strength and the failings in Malayan scientific discipline course of study as compared to Steiner Waldorf ‘s. Hence, the research worker believes that the research worker will see the personal contact and penetration every bit good as holistic positions on both course of studies by utilizing instance survey and comparative analysis. 3.2 Research Methods Harmonizing to Fraenkel and Wallen ( 2006 ) qualitative research employed three chief techniques to roll up and analyse informations which are detecting people and schoolroom, questioning the topic every bit good as analysing paperss or other signifiers of communicating. Therefore for the informations aggregation the research worker employed the three different methods viz. observations, interviews, and papers analyses. By using more than one methods, the research worker believe it will assist to triangulate the informations, to supply multiple beginnings of grounds every bit good as to increase the cogency and dependability of the findings of this research. Below here are the accounts on each method: 3.2.1 Observations Observation fundamentally conducted in order to look into something that the research worker unfamiliar with. Because of that, certain sorts of research inquiries can best be answered by observation ( Fraenkel & A ; Wallen, 2006 ) . Harmonizing to Holmes et Al ( 2008 ) observation can be classified harmonizing to the function that the research worker plays. Fraenkel and Wallen ( 2006 ) suggested the same and as follow ; Participant Observation, the research workers really take part in the state of affairs or puting they are detecting and when the research worker takes on the function of a complete participant his individuality is non known to the other members of the group or another function that could be play by the research worker is every bit participant as perceiver. This is where the research worker participates wholly in the activities of the group being studied and on the same clip stating the group clearly that he is making research. Non-participant Observation, â€Å" sit on the out of boundss † where the research worker does non take part in the activity being observed or really he is indirectly involved with the state of affairs being observed. There two functions that the research worker could play. First every bit observer as participant where the research worker instantly identifies himself as research worker and do non hold to feign as a member of the peculiar group being studied. Second one ; the research worker could be complete perceiver which is wholly contradicted with complete participant. The presence of the research worker may or may non, recognize by the group because the research worker is really observes the activities without any purpose to take part. For this research, the observations carried out by the research worker were really used both types of observation. In one state of affairs the research worker plays his function every bit ‘participant as perceiver ‘ and in yet, another state of affairs, the function changed to observer as participant. The research worker adapted with the alteration of state of affairs where it involved clip and intent of the observation. For illustration when the research worker participated in the plans organized by the Steiner Waldorf section in Plymouth the research worker besides transporting out his observation and informed the member of the group that he was carried out observation for his research. However during his visit to the Steiner school in Plymouth, he was no longer participant as observer ; alternatively, he was observer as participant where he observed the instruction and acquisition procedure, status and environment of the school every bit good as the activities that the school had along that twenty-four hours. It was same with the observation carried out by the research worker in Malaysia. The research worker plays his function wholly every bit ‘observer as participant ‘ with the groups of pupils and instructors involved in this research. However when it involved with his personal experience as in-service instructor, he was really a complete participant, where he observed the phenomenon occurred in the group that he studied without stating them the existent state of affairs. But it was a really minor portion from the observations that the research worker carried out. 3.2.2 Interview Interview is a common tool normally used in qualitative research. It is used by research worker to cognize and understand people ‘s experiences and their interior perceptual experiences, attitudes, and feelings of world ( Zhang.Y, 2006 ) . By mentioning to its construction, interview can be divided into three classs: structured interview, semi-structured interview, and unstructured interview ( Fontana & A ; Frey, 2005 ) and as in Frankael and Wallen ( 2006 ) the unstructured interview term is used as informal interview. Structured interview is the interview that has a set of predefined inquiries and the inquiries asked to the respondent in the same mode. Structured interview is similar to study and questionnaire except that it is conducted verbally instead than in authorship. Semi-structured interview can outdo be described in footings of the flexibleness in the interview procedure. Just like structured interview, this type of interview consists of a series of inquiries which designed to arouse specific reply from respondent. However it normally more open-ended than inquiries in a structured interview but in the class of interview, interviewers has a flexibleness to set the sequence of the inquiries to be asked and add inquiries based on the context of the conversations. Informal interview as the term implies shows that the interview conducted is less formal as compared to structured or semi structured interview. It is besides similar to a insouciant conversation and fundamentally carried out to prosecute the involvements of both the research worker and the respondent in bend. This type of method is normally used in qualitative research. For this research, the research worker carried out the three types of interview. Informal interviews were used by the research worker at the initial portion of this research. The interviews were conducted on few instructors, talks and pupils in the efforts to happen out the job of Malayan scientific discipline course of study. During his visit to Plymouth, the method changed to semi structured interview as the research worker hoped to garner every bit much information as possible to derive some penetration about the Steiner instruction. The inquiries designed fundamentally to assist the research worker to acquire the intended reply from the respondents. Time is ever being the restriction of any research. Therefore when the research worker traveled back to Malaysia, the research worker still hopes that he could acquire more information about scientific discipline course of study from the Steiner instruction. Therefore he conducted email interview with few Steiner instructors, lectors and its ex-students. In the electronic mail the research worker explained briefly about research that he carry oning every bit good as direction how the respondent should reply the inquiries. The research worker classified the electronic mail interview method as structured interview in the sense that inquiries asked were fixed ( in term of figure ) and no farther probing were carried out. Email interviews conducted by the research worker as portion of ‘member cheque ‘ which is a term of method that usage in qualitative resear ch to verify what the research worker had understood based on the old interviews, observations and papers that he analyzed or as mean of formalizing via triangulation. 3.2.3 Document/Content Analysis It is a technique that allow the research worker to analyze human behaviour in an indirect manner such as through an analysis of human communicating, written content of communicating, text edition, essays, newspaper, diaries, magazines, articles and others ( Frankael & A ; Wallen, 2006 ) . Contented analysis besides has been defined as a research method for the subjective reading of the content of text informations through the systematic categorization procedure ( Hsieh & A ; Shannon, 2005 ) and besides as an attack of empirical, methodological controlled analysis of texts within their context of communicating ( Mayring, 2000 ) . Therefore in this research â€Å" papers † refers to written beginnings that the research worker have obtained from the online beginnings ( articles, studies and diaries ) and other written beginnings such as books that explain about Steiner and Malaysian scientific discipline course of study. The paperss gathered include official publications which discuss the purposes and aims of scientific discipline instruction and other facets of course of study such as execution, appraisal and the public presentation. These different paperss were analyzed and discussed in relation to the findings gathered through observations and interviews carried out by the research worker antecedently. 3.3 Research Procedures Since this is a comparative survey between 2 different course of studies, there are processs that need to be carried out by the research worker in two different states which is Malaysia and Britain. Therefore, the research worker will explicate the processs in figure of different phases as elaborate below ; Phase 1 To place the job about the Malayan scientific discipline course of study, the research worker had informal interviews with few senior instructors and talks with scientific discipline instruction background. Besides that the research worker besides conducted few informal interviews with pupils in mainstream scientific discipline category. The thought to compare the Malayan and Steiner scientific discipline course of study really came from co-workers who had general thought about the Steiner Waldorf instruction. Phase 2 ( Initial Study ) The research worker gathered information about Steiner instruction including the history, attacks and its course of study every bit good as read about the research conducted on Steiner instruction. At the same clip, the research worker besides contacted the Head of the Steiner Waldorf instruction in University of Plymouth and liaises with the Senior Tutor of the Industrial linkages of that university via electronic mail to set up resonance before the visit to Britain. Meantime, the Head of the Steiner Waldorf section helped the research worker to form Steiner and scientific discipline related plans for the research worker to go to during the visit and one of which is a visit to a Steiner school in Plymouth. Phase 3 Prior to carry oning this research in the UK, the research worker needed to obtain permissions from the undermentioned parties: The Dean of Faculty of Education of University Teknologi Mara ( UiTM ) to obtain permission to subject the proposal to the UiTM International Linkages Centre ( UiLC ) ; The Head of UiLC for the blessing of the fund needed by the research worker to carry on this survey in Britain ; The Vice Chancellor of UiTM to obtain the blessing for the research worker to carry on this survey in Britain ; and The Head of Steiner Waldorf Department in University of Plymouth for permission and to be involved in this research. Phase 4 When in the UK, information was gathered or obtained through changing beginnings and methods as highlighted aid earlier, viz. subsequent Joined a hebdomad plan organized by Steiner Waldorf Department in University of Plymouth. The plan besides involved a category of first twelvemonth pupils who making their Bachelor in Steiner Education ; Group interview with the few talks and pupils from the Steiner Waldorf Department ; Interview with the Head of Steiner Waldorf Department in University of Plymouth ; Educational visit to one Steiner school in Plymouth where interviews were carried out with a few instructors from different backgrounds ; Observation of one scientific discipline lesson ; and one practical or experiment session ; and Exchange of electronic mails with the few scientific discipline instructors, lectors and pupils who graduated from Steiner schools. Phase 5 Once the intended informations were obtained from the UK, this phase will more concentrating on informations analysis and to happen more grounds to farther support the earlier findings. Conducted email interview with few Steiner scientific discipline instructors, talks and ex-students. Making analysis on paperss about Steiner course of study specifically on scientific discipline. Conducted a group interview with pupils from 2 different schools in Petaling territory. Analyzed information gathered. 3.4 Sampling Scheme A sample in a research survey is the single or group on which information is obtained ( Fraenkel & A ; Wallen, 2006 ) . Another sentiment, a sample consists of a group of persons drawn from the population where the sample is really a fraction from the whole population ( Holmes et al, 2008 ) . A group of sample can be really little or possibly rather big depending on the figure of population as the sample drawn is really supposed to stand for the full population. There are two major types of trying which is chance trying and non-probability sampling. For this research, the research worker chose purposive sampling and convenience sampling when behavior this research. A convenience sample is group of persons who ( handily ) are available for survey while purposive sample is chose based on the research worker judgement where the sample is believed could give utile information for the research ( Fraenkel & A ; Wallen, 2006 ) . On the other positions, Holmes et Al ( 2008 ) in his book stated that purposive sampling is a manner where the research worker, in taking sample, considers the topics that belong to a specific group. Basically this method is appropriate for a subject that has non been studied much before while convenience sampling is a means perusal of whomever or whatever is available. In effort to analyze on Malayan and Steiner Waldorf ‘s scientific discipline course of study, the research worker was really blended the method in trying. Even though the sample might affect personal networking of the research worker, there were few facets that the research worker gave due consideration and judgement. That is why the research worker chose to utilize purposive and convenience sampling. In order to understand a phenomenon from position of participants, the research worker chose sample who gave more utile information. In add-on, the research worker besides look at the engagement, willingness and cooperation of the sample to involves with the research so that it will do much easier for the research worker. 3.5 Sample 3.5.1 Sample for Malayan Science Curriculum The samples that the research worker chose to garner utile information sing Malayan scientific discipline course of study can be divided into three classs, viz. as ; expert ( lector with scientific discipline instruction background ) , practician ( instructor ) and pupils. 3.5.2 Sample for Steiner Waldorf scientific discipline course of study The samples that the research worker chose to understand about Steiner Waldorf instruction and its scientific discipline course of study besides can be divided into three classs, viz. as ; expert ( lectors with Steiner instruction background and Steiner scientific discipline instruction background ) , practician ( instructor ) and pupils. 3.6 Data Analysis Data analysis is one of the of import parts in any research. It requires systematic processs to pull off the information gathered and the ability to analysis the informations critically and exhaustively. However, to transport out the analysis, research worker will utilize the research inquiries and research aims that constructed earlier as the usher. He believes that, it will assist the research worker to demo the right way of the geographic expedition of the informations. As the research worker employed observations, interviews and papers analysis as the methods to garner the informations, each method will undergo different degrees of analysis at one point and subsequently will be combined as a rich information that will be able to reply the research inquiries. Any notes that made by the research worker during his observations, informal interviews, transcript of email interviews, pictures recorded, diaries, and any publications related were organized consequently into its ain class. Next, the informations were analyzed in order for the research worker to look at any bing forms or subjects and assist the research worker to place basic characteristics of the information. This will assist the research worker to develop and document a database construction and on the same clip to depict about the informations extensively by utilizing qualitative package. The package will let the research worker to code, recover and analyse informations which could do the rich information become more organized and utile. 3.7 Drumhead The model of this research took topographic point within qualitative processs since the purpose of this research is compare the Malayan and Steiner Waldorf scientific discipline course of study. Interviews conducted with the instructors, talks and pupils from both systems every bit good as the observation that the research worker carried out in Malaysia and Britain were the chief research tools. The information gathered was supported by the analysis of paperss such as diaries, articles, official publications and several ministry paperss related to science instruction. The informations transcribed with the assistance of qualitative informations analysis package helped the research worker to come out with the findings of the research.

Biography of Lewis Chesty Puller, U.S. Marine

Lewis B. Chesty Puller (June 26, 1898–October 11, 1971) was a U.S. Marine who saw battle experience in World War II and in the Korean War conflict. He was one of the most decorated Marines in U.S. history. Fast Facts: Lewis B. 'Chesty' Puller Known For: One of the most decorated U.S. Marines in history, serving in World War II and KoreaBorn:Â  June 26, 1898 in West Point, VirginiaParents: Martha Richardson Leigh and Matthew M. PullerDied: October 11, 1971 at the Portsmouth Naval Hospital, Portsmouth, VirginiaEducation: Virginia Military Institute (1917–1918)Spouse: Virginia Montague Evans (m. November 13, 1937)Children: Virginia McCandlish (b. 1938), twins Martha Leigh and Lewis Burwell Puller, Jr. (b. 1944) Early Life Lewis B. Chesty Puller was born June 26, 1898, at West Point, Virginia, the third of four children born to Matthew M. Puller and Martha Richardson Leigh (known as Pattie). Matthew Puller was a wholesale grocer, and Lewis had two older sisters and a younger brother. In 1908, Matthew died, and in the familys reduced circumstances, Lewis Puller was forced to aid in supporting his family at the age of 10. He continued on at school, but he hawked crabs at the local waterfront amusement park and then worked as a laborer in a pulp mill. Interested in military matters from a young age, he attempted to join the U.S. Army in 1916 to take part in the Punitive Expedition to capture Mexican leader Pancho Villa. Underage at the time, Puller was blocked by his mother who refused to consent to his enlistment. When war was declared with Germany at the start of World War I, Puller was 17 and he accepted an appointment to Virginia Military Institute as a state cadet, receiving financial assistance in return for later service. A mediocre student, he spent the summer at a Reserve Officer Training Corps camp in New York. Joining the Marines With the U.S. entry into World War I in April 1917, Puller quickly became restless and tired of his studies. Inspired by the U.S. Marines performance at Belleau Wood, he departed VMI and enlisted in the U.S. Marine Corps. Completing basic training at Parris Island, South Carolina, Puller received an appointment to officer candidate school. Passing through the course at Quantico, Virginia, he was commissioned as a second lieutenant on June 16, 1919. His time as an officer proved brief, as a postwar reduction in the USMC saw him moved to the inactive list 10 days later. Haiti Not willing to forego his military career, Puller rejoined the Marines on June 30 as an enlisted man with the rank of corporal. Assigned to Haiti, he served in the Gendarmerie dHaiti as a lieutenant and aided in combating Cacos rebels. Formed under a treaty between the U.S. and Haiti, the gendarmerie possessed American officers, largely Marines, and Haitian enlisted personnel. While in Haiti, Puller worked to regain his commission and served as adjutant to Major Alexander Vandegrift. Returning to the U.S. in March 1924, he was successful in obtaining a commission as a second lieutenant. Navy Crosses Over the next four years, Puller moved through a variety of barracks assignments that took him from the East Coast to Pearl Harbor. In December 1928, he received orders to join a detachment of the Nicaraguan National Guard. Arriving in Central America, Puller spent the next two years battling bandits. For his efforts in mid-1930, he was awarded the Navy Cross. Returning home in 1931, he completed the Company Officers Course before again sailing for Nicaragua. Remaining until October 1932, Puller won a second Navy Cross for his performance against the insurgents. Overseas Afloat In early 1933, Puller sailed to join the Marine Detachment at the American Legation in Beijing, China. While there, he led the famed Horse Marines before departing to oversee the detachment aboard the cruiser USS Augusta. While aboard, he came to know the cruisers skipper, Captain Chester W. Nimitz. In 1936, Puller was made an instructor at the Basic School in Philadelphia. After three years in the classroom, he returned to Augusta. This homecoming proved short as he went ashore in 1940 for service with the 2nd Battalion, 4th Marines at Shanghai. On November 13, 1937, he married Virginia Montague Evans, who he had met a decade before. Together they had three children: Virginia McCandlish Puller (born in 1938), and twins Lewis Burwell Puller, Jr. and Martha Leigh Puller, born in 1944. World War II In August 1941, Puller, now a major, departed China to take command of the 1st Battalion, 7th Marines at Camp Lejeune. He was in this role when the Japanese attacked Pearl Harbor and the U.S. entered World War II. In the months that followed, Puller prepared his men for war and the battalion sailed to defend Samoa. Arriving in May 1942, his command remained in the islands through the summer until being ordered to join Vandegrifts 1st Marine Division during the Battle of Guadalcanal. Coming ashore in September, his men quickly went into action along the Matanikau River. Coming under intense attack, Puller won a Bronze Star when he signaled USS Monssen to aid in rescuing trapped American forces. In late October, Pullers battalion played a key role during the Battle of Guadalcanal. Holding back massive Japanese attacks, Puller won a third Navy Cross for his performance, while one his men, Staff Sergeant John Basilone, received the Medal of Honor. After the division left Guadalcanal, Puller was made the executive officer of the 7th Marine Regiment. In this role, he took part in the Battle of Cape Gloucester in late 1943 and early 1944. Leading From the Front During the opening weeks of the campaign, Puller won a fourth Navy Cross for his efforts in directing Marine units in attacks against the Japanese. On February 1, 1944, Puller was promoted to colonel and later took command of the 1st Marine Regiment. Finishing the campaign, Pullers men sailed for the Russell Islands in April before preparing for the Battle of Peleliu. Landing on the island in September, Puller fought to overcome a tenacious Japanese defense. For his work during the engagement, he received the Legion of Merit. The Korean War With the island secured, Puller returned to the U.S. in November to lead the Infantry Training Regiment at Camp Lejeune. He was in this role when the war ended in 1945. In the years after World War II, Puller oversaw a variety of commands including the 8th Reserve District and the Marine Barracks at Pearl Harbor. With the outbreak of the Korean War, Puller again took command of the 1st Marine Regiment. Preparing his men, he took part in General Douglas MacArthurs landings at Inchon in September 1950. For his efforts during the landings, Puller won the Silver Star and a second Legion of Merit. Taking part in the advance into North Korea, Puller played a key role in the Battle of Chosin Reservoir in November and December. Performing brilliantly against overwhelming numbers, Puller earned the Distinguished Service Cross from the U.S. Army and fifth Navy Cross for his role in the battle. Promoted to brigadier general in January 1951, he briefly served as assistant commander of the 1st Marine Division before temporarily taking command the following month after the transfer of Major General O.P. Smith. He remained in this role until returning to the United States in May. Later Career and Death Briefly leading the 3rd Marine Brigade at Camp Pendleton, Puller remained with the unit when it became the 3rd Marine Division in January 1952. Promoted to major general in September 1953, he was given command of the 2nd Marine Division at Camp Lejeune the following July. Plagued by decaying health, Puller was forced to retire on November 1, 1955. One of the most decorated Marines in history, Puller won the nations second-highest decorations six times and received two Legions of Merit, a Silver Star, and a Bronze Star. Puller himself said he was uncertain how he came to be nicknamed Chesty. It may have been a reference to his big, thrust-out chest; chesty in the Marines also means cocky. Receiving a final promotion to lieutenant general, Puller retired to Virginia, where he died after a series of strokes on October 11, 1971.