Newark Museum :: Art

ROMAN OBJECTS 1. Different Roman Portrait Heads The picture of a whiskery man is from 150-175a.d. It is from the Antoine Period (138-192a.d.). The picture is reasonable to me since it is a figure of somebody. My impacts on this are his whiskers is somewhat wavy. His hose has a piece missing or is simply harmed genuine terrible. He is made out of marble. His face seems as though he is distraught or something, genuine extraordinary. It likewise appears as though it had cuts in his temple and part of his eye. His hair resembles a heap of whip cream. GREEK GALLERIES 2. Sculpture of Kouros The shade of the stone of the sculpture of Kouros I would portray it as beige. The fixes to the sculpture are everywhere throughout the body. It has splits everywhere throughout the arms, chest, back, and so on his headband is secured by something on his head that resembles dabs with spaces all through them. It is from 590-580b.c during the bygone time frame. It stands entirely tall and furthermore has somewhat stunned going on with his correct foot back and his left foot up. Craft OF MESOAMERICA 3. â€Å"Fat Baby† from Olmec Culture The â€Å"Fat Baby† is during the ninth twelfth century b.c.e., during the Olmec time frame. The figure is white and empty. The infant is by all accounts snacking on his pointer, seating down with his legs open. It is really huge importance fat and looks old. It has a cap on that looks light pink and his lip is pulled back. The child has no teeth and is broken. It has a straight line going down his back with structures everywhere throughout the left side. Old NEAR EASTERN ART 4. Human-Headed Winged Bull It is from the Neo-Assyran period during 883-859b.c.e. The most elevated help would be its head. The composing was all around the sculpture in an alternate composition. It is huge and tall. It is on a decent bit of the edge of a lobby. It looks sort of cool with a bull’s body with wings and a human’s head on it. The face is somewhat clever as a result of the facial hair I surmise assuming long and genuine even. The human-headed wing bull had five legs. ASIAN GALLERIES 5. Standing Buddha The standing Buddha is from the fifth century 319-500b.

Hofstede and Trompenaars Cultural Dimensions

Hofstede and Trompenaars Cultural Dimensions Hofstede expressed 5 Cultural measurements which can be utilized to examine national inclinations. To clarify the variety of social measurements in various nations, a diagram delineating each of the 5 Cultural measurements is appeared in Hong Kong, China and USA. Nitty gritty clarifications are given underneath: Force separation is the separation in the methodology between the subordinates and seniors in an association. The powerful Distance nations utilize Centralized dynamic and the workers are more averse to scrutinize their seniors. Though, in low force separation there is decentralized association structure and workers are bound to scrutinize their seniors. In high Individualism, it is commonly expected that individuals just deal with their friends and family like their close families, there is exceptionally less propensity that the individuals will work and have a place with any gatherings. Nations with high Masculinity, there is high level of sex separation and individuals will put a lot of significance on acknowledgment, challenges, riches, profit and so on while, nations with high womanliness, significance is given to quality life, collaboration, well disposed air, caring others and so on. Vulnerability evasion is the manner by which individuals feel and respond in dicey circumstances and has made convictions to maintain a strategic distance from such circumstances. In nations with high Uncertainty individuals accept on specialists and their insight, there is requirement for security and individuals are not ready to face challenges. Though, in low Uncertainty evasion individuals will in general be aspiring and are prepared to acknowledges obscure dangers. The fifth social measurement was concentrated by utilizing Questionnaire in different nations around the world. Long haul Orientation manages great virtues paying little heed to truth. In Long Term Orientation the qualities, for example, Perseverance, frugality assume essential job, while regard in convictions, standards in the public arena and restricting oneself by social obligations are related with Short Term Orientation (Hofstede and Bond, 1984). Trompenaar Cultural measurements: Universalism and Particularism: According to Trompenaar, the way of life relegates the significance either to the principles or individual connections. In Universalism culture individuals share conviction that the guidelines, qualities and law are a higher priority than individual or different connections while, in Particularism societies individuals center more around human kinship or individual connections. Independence and Communitarism: Trompenaar Individualism and Communitarism social measurement convey a similar significance with Hofstedes Individualism. As clarified over, the way of life contrasts are represented with regards to whether individuals work more as people or in gatherings. Explicit and Diffuse: In Specific societies, for example, Denmark, the associations between individuals are very much characterized viz the connections are having a tendency to censure their youngsters legitimately and straightforwardly, individuals will in general focus on hard realities, norms. In diffuse societies like Russia, the analysis is viewed as an individual issue and may frame a piece of losing worth or glory. Affectivity and Neutrality: Affectivity and lack of bias social measurement gives a degree wherein individuals show their sentiments. In Affectivity societies, people express sentiments normally and transparently. Individuals talk uproariously, show bliss or misery, welcome with excitement and so forth though in Neutral societies, individuals will in general conceal their feelings. Accomplishment and Ascription: In Achievement societies, individuals are granted authority position contingent upon work exhibitions, though, in Ascription societies, individuals are regarded or granted authority positions relying upon ethnic gatherings, age, family, sex and so on. In Sequential time societies, individuals for the most part perform obligations successively for example perform just a single obligation at a given time. While, in Synchronous time societies individuals are adaptable, taking care of a few obligations at a solitary purpose of time. Internal and Outer guided: It is set of individuals who accept that condition can be controlled versus a lot of individuals who accepts condition controls them. In Inner coordinated societies, individuals accept that it is in people hand and right an ability information can control nature; In external coordinated societies individuals accept that nature isn't in their control and in this manner they should live and change themselves as per the nature or condition. Source: Hampden-Turner and Trompenaars, (1993). Hofstede and Trompenaar assisted with clarifying social contrasts with assistance of different social measurements. Underneath table furnishes data on Trompenaar social measurements concerning different nations around globe. Along these lines, it tends to be seen that the social measurements gave by Hofstede and Trompenaar help to all the more likely comprehend different societies and hence they help to explore diverse national inclinations. Qualities and Weakness of Hofstede and Trompenaar: Characteristic inclination among Hofstede and Trompenaar and approaches to beat Inherent predisposition: To show the characteristic inclination among Hofstede and Trompenaar a relationship between national measurements on independence and national deals information of I marked telephones is illustrated. The examination appeared in Table 1 uncovers the inclination on independence standard of Hofstede and Trompenaars (Burns and Bush, 2006 refered to by Veerapa and Hemmert, 2010). The absence of exactness can be overwhelmed by utilizing analytic devices like SPSS (Wilcox, 2001). SPSS assists with amending the deviations and presents post hoc test yields which can be investigated (Burns and Bush, 2006 refered to by Veerapa and Hemmert, 2010). Hofstede Improvement model: In Hofstedes model it has been seen that the model simply accept consistency. Subsequently, there is a need to consider assorted variety, lavishness of organizations and their practices. Directly, extreme discussions, surveys on communication, structure and conceptualization are accessible on prompt premise. We ought to be locked in and include in utilizing speculations of activity, which can manage various impacts, change and assortment, situational non-national fluctuation, force and troubles on singular subjects as opposed to looking for clarifications from the applied lacuna for accepted national consistency (McSweeney, 2002). Examination between various models: The vast majority of the social written works have talked about and pointed towards fundamental beliefs of culture which assists with distinguishing contrast between societies. Hofstede suggested that the most productive technique to adjust the way toward believing is to change singular conduct (Schwartz, 1999 and Hofstede, 1980). Task GLOBE has centered and represented impacts of authority characteristics on different societies and analyzed appealling initiative at three levels industry type, national and authoritative settled inside one another (House et al., 1999). The fit between the board rehearses and social attributes is considered to assume a crucial job in actualizing a fruitful supervisory crew (Aycan et al., 2000). In any case, Hofstede and Harzing, (1996) recommended that lone barely any investigations had the option to look at or just hardly any hypotheses understood that the way of life itself changes over timeframe. Schein (1992) proposed a social measurement which ponders the degrees of perceivability. Drawing on Scheins proposition, social speculations fluctuate contingent upon focus on the various layers of culture. Numerous social hypotheses focus on the center bit; values had practical experience in the middle of noticeable and imperceptible pieces of culture (House et al., 1999; Hofstede, 1980; Inglehart and Baker, 2000). The relationship between change in financial turn of events and work esteems was concentrated by Inglehart and Baker (2000) and both discovered perceptible social changes. Not many models focus on the obvious and the outside layer of practices and practices, Trompenaar surveyed or made a decision about the distinctions in cross-societies concerning practices, driven by values (Trompenaars, 1994; House et al., 1999). Various degrees of cross societies are appeared in Figure 1: The majority of the diverse research concentrated on national level, delineating separation in cross societies with respect to national qualities (House et al., 1999; Hofstede, 1980). Berson, Erez and Adler, (2004) proposed the arrangement of associated and worldwide work groups assists with limiting the multifaceted nature in work environment inside and across outskirts. The associated groups help the organizations to connect social holes and guarantee smooth coordination and correspondence. Indeed, even the CEOs has reliably stressed the relationship and connectedness in their discourses. Lobby (1976) concentrated high and low setting societies. Condition is significant for the individuals having a place with high setting societies and they depend on translation for example utilize non-verbal signs during correspondence, while, in low setting societies non-verbal signs are regularly overlooked and condition is less significant. Corridor model doesn't rank various nations and is based on subjective bits of knowledge and the model doesn't give numerical information and subsequently, correlations must be on emotional premise. Issues for Expatriates: This segment talks about contrasts in authoritative styles and social examples among Japanese and German staff individuals in Dusseldorf area of western Germany, and issues they experience for resolve, correspondence and co-activity. As English not being the local language for both Japanese and Germans, a sizable measure of Japanese firms in Dusseldorf district comment on correspondence issues and worry between Japanese ostracizes and neighborhood staff individuals. There is likewise a complexity on subject of good manners, Japanese staff are perceived for thinking about the amenability to incredible degrees; an unmistakable Japanese amiability disorder is reluctance to state no with immovability, which confounds the outsiders and Westerners think that its insincere, though, Germans languish the notoriety over being egotistical, obtuse and terse. The Germans consider the to be of Japanese as a hindrance to charming office connections. German administrators thought that it was troublesome and comm

Concept Of Vindication In The Law Of Torts â€Myassignmenthelp.Com

Question: Talk About The Concept Of Vindication In The Law Of Torts? Answer: Presentation One significant arrangement of law is private Laws. These laws manage people groups rights and commitments. The most widely recognized regions of these laws are the tort law and the business law. The law of agreement manages implementation of agreements shaped by the gatherings. Then again, Tort law permits a gathering to recoup the harms experienced an inappropriate activities of the other party. This paper will be delineation the utilization of the two laws utilizing two case situations. Issue as to Elements of an agreement The assurance whether there was an agreement or not involves testing the components of an agreement. For the law of agreement to uphold an agreement between the gatherings, the three significant components must be available. One of these is an offer. The law requires all agreements to begin with one gathering proposing a deal[1]. The guidelines of an offer are that it must originate from the offeror who is the gathering proposing it. At that point it must be imparted to the next gathering alluded to as the offeree. The gathering which the offeror hopes to make an arrangement with. Likewise, there must be unrestrained choice while making this offer. Another component of an agreement is the acknowledgment. The fundamental standard is that once the other party gets an offer, the law anticipates that that gathering should react to it through tolerating to make a contract.[2] Similarly, an acknowledgment must originate from the offeree, must be conveyed to the offeree, and it must be out of unrestrained choice. The third component that must be available is a thought. There must be a deal that will wind up with parties trading something of significant worth. The other term is the goal to make a legitimate bond. This standard directs that gatherings ought to be at first aiming to make a coupling the board. Courts typically investigate the accessible proof to choose whether there was a goal to make a legitimate relation.[3] Other components are the limit of the gatherings to get, the lawfulness of the understanding, assent of the gatherings, and a few agreements may require being in writing.[4] Along these lines, in deciding if an agreement existed among Johnny and Marie, the court will analyze this understanding against these components. However, since every one of these components are accessible, at that point there was an enforceable understanding. Issue as to botches in an agreement The misstep emerged when Steven erroneously solicited one from the workplace staff to send Quotation A to Marie who was their potential client. Shockingly, Marie, acknowledged the mixed up citation making an authoritative understanding. There are three kinds of authoritative slip-ups. The main error is known as the normal mix-up. This slip-up emerges when the two gatherings submit the equivalent error[5]. There are three classifications. The Res extincta botch happens when gatherings structure the agreement accepting that the topic exist when it doesn't exist.[6] Another regular misstep can emerge through Res sua when gathering contracts for merchandise that he really owns.[7] The below average of slip-up is known as a common mix-up. This one happens when gatherings have two particular comprehension of the realities. The court for the most part utilizes a target test to decide to see whether it can spare the agreement. The last misstep is known as a one-sided botch. A one-sided misstep can be in two different ways. One when one gathering commits an error and the other one realizes the misstep however stays quiet to let the agreement development proceed. This one makes the agreement void. The subsequent one is the place one gathering commits an error, and the other party doesn't think about the mix-up so the two of them proceeds to the development of the agreement. This error doesn't make the agreement invalid as found in Centrovincial Estates PLC v Merchant Investors Assurance Company Ltd [1983][8]. For this situation, the proprietor planned to offer a rent of 126,000 per year however rather offered for 65,000 every year. The inhabitant didn't know about the misstep and thus acknowledged. The court confirmed that the agreement was substantial. In light of this investigation, the error in the agreement among Johnny and Marie was a one-sided botch where one gathering didn't know about the misstep. Thusly, the agreement was substantial. Clarify what will occur if the Lame Duck Restaurant is obliged to give the premises to the dinner, however won't do as such. Issue as to expectant penetrate of disavowal The activity will establish a break of agreement. Where one gathering penetrates an agreement, the blameless party may carry a reason for activity to the court. An activity can be planned to look for money related pay. These harms are intended to put the blameless party in the circumstance it could host been had the liable get-together played out its promises.[9]Another conceivable activity in the law of a directive. This one looks to keep a gathering from breaking the guarantees. Explicit execution is another activity that demands the court to arrange the penetrating party to finish what it guaranteed in the agreement. Another activity is called denial. This activity permits the guiltless party to regard the agreement as finished. From this, the innnocent partty has thee option to suspend its commitments. For this situation, Lame Duck Restaurant rfuses to give the premises to the meal, it would submit a break that pulls in an activity for revocation or an expectant penetrate of disavowal. At the point when this break occurs, the guiltless party is just left with two decisions. One is to accept the revocation as a penetrate, end the agreement and sue for the harms. The subsequent one is to keep a watch out whether the breaking gathering will alter its perspective and respect the agreement.[10] In Hochster v De la Tour [1853][11], the respondent dropped the agreement with the petitioner on eleventh May. The agreement should begin on first June. The petitioner sued the litigant on 22nd May for the break of agreement. The court attested that the break had occurred in spite of that the genuine date of execution had not initiated. Marie can decide to end the agreement and sue for harms either the real break had happened or not. There are in a general sense three components for a case of carelessness. The first is the obligation of care. This component was first settled on account of Donoghue v Stevenson [1932][12] The petitioner found a rotted snail when she poured the lager that stayed in the jug into her glass. She sued the litigant guaranteeing that she endured harms adding up to 500. The court certified that an obligation of care existed from the producer and a deteriorated snail in the jug was a break of that obligation. Later this rule was fixed on account of Caparo v Dickman [1990][13] where the court set three components for the obligation of care. The subsequent segment is the penetrate of the obligation. The petitioner must demonstrate that the litigant penetrated his obligation of care as held in Nettleship v Weston [1971] [14].This was a case between a third exercise driving understudy who caused a mishap harming his educator. The court found that the third exercise understudy penetrated his obligation of thinking about the educator. The third component that the petitioner need to exhibit is an association between the harms and the litigant penetrate of activity. The down to earth approach is the yet for test which locate an immediate connection between the penetrated commitment and the loss.[15] The following methodology is to discover whether the harms are excessively remote. In the event that they are excessively remote, the petitioner can't recuperate them as found in Barnett v Chelsea Kensington Hospital Management Committee [1969][16] The inquirer brought an activity against the emergency clinic that would not inspect her perished spouse. Be that as it may, the spouse conditions had come about because of the lethal arsenic poison which would have executed him at any rate. The court declined to grant the harms as the reason for the passing could have come about because of the arsenic poison. Following this investigation, Jonny owed an obligation to think about the individuals who were in the structure, and h e penetrated that obligation. Prompt Johnny on whether he is obligated for activities of his cultivator. There are a few circumstances in the law of tort where one individual will be at risk for a careless demonstration of another. These circumstances are called vicarious obligation. Specifically, a chief can be obligated for the careless lead of a representative or an operator that makes hurt the outsider. A business can be vicariously responsible for the activities of the representative who while undertaking approved work does an indiscreet activity. On the off chance that an outsider endures because of that activity, the business will be obligated. A use of this principles was held in Century Insurance Co Ltd v Northern Ireland Road Transport Board [1942][17]. A big hauler driver had carried petroleum to the carport. He at that point chose to smoke a cigarette while stacking the tank. The cigarette caused a blast. The court moved the liabilities to the business in light of the fact that the driver was doing the business' work. Prompt what harms must be paid for: clinical costs, cash lost by dropping occasion or both? There are different kinds of compensatory harms that an individual can get. Ordinarily, these harms are estimated either as general or extraordinary harms. General harms are those harms which are non-economical.[18] For instance, an inquirer can get pay for passionate misery, physical torment, interminable affliction, or debilitation. Unique harms are likewise alluded to as monetary harms. These are a genuine monetary misfortune. The court grants these harms to cover the current casualty's misfortune, future misfortune, present doctor's visit expenses, future doctor's visit expenses, the expense related with dropping of excursions, and so forth. These harms are interesting relying upon each person.[19] From this examination, Johnny would be subject for the uncommon harms which would incorporate the expense of future and present hospital expenses, cash based costs and would be at risk for the costs coming about because of the undoing of the outing. References Wealth, Sarah, Vida Allen and Denis J Keenan, Keenan And Riches' Business Law (Pearson/Longman,

Ergonomics And The Workplace Health And Social Care Essay Free Essays

The example of wellbeing in working environment has seen extraordinary progresss as clasp has gone, because of headway in designing, in spite of the fact that there is as yet significant aggregate of difficulties that comes in signifier of damages and unwellnesss ( Hopwood and Thompson, 2006 ) . This is the place biotechnologies comes to play a capacity in doing the work environment ok for exercises that would be completed by the worker. Biotechnologies draws regarding numerous matters in its overview of universes and their surroundings, including anthropometry, biomechanics, mechanical innovation, modern innovation, modern plan, kinesiology, physiology and mental science ( Wikipedia, 2010 ) . We will compose a custom article test on Ergonomics And The Workplace Health And Social Care Essay or on the other hand any comparable point just for you Request Now Hazardous, unfortunate, awkward or wasteful condition of affairss at work or in ordinary life are maintained a strategic distance from by taking history of the physical and physiological capablenesss and limitations of universes ( Dul and Weerdmeester, 1993 ) . Human health and wellbeing is at ideal degree when the work environment natural parametric amounts are appropriate for the worker ( Story, 2010 ) . Every twelvemonth, badly planned stocks and work environments represent 1000s of damages and soaring expenses. That is the reason biotechnologies the human factor in product and working environment configuration is quick going a significant worry of creators ( Gross, 1995 ) . This examination is about how is tied in with utilizing and legitimate readiness on the use of biotechnologies to unremarkable working environment can prevent life jeopardizing unwellnesss, awkwardness, mishaps, and how bosses can rescue cash by slice bringing down costs identified with issues like laborers ‘ pay, truancy and twist around, as it makes activities increasingly effective by making work topographic point plans with less errors and better on work environment ease of use ( MacLeod, 1995 ) , with the finish of cut bringing down musculoskeletal awkwardness, expansion work productiveness, proficiency and solace, as a worker who is progressively comfortable is progressively profitable ( Meriano and Latella, 2008 ) . 1.1 AIMS AND OBJECTIVES The reason for this investigation is to cognize what biotechnologies is all roughly and how it very well may be joined into the health and security area. The points of this examination are ; Diminish risks factors related with not well structured work Stationss and, To design a work environment that is appropriate for the human natural structure rather than the human natural structure pleasing to working environment. To have the option to put, step, control and oversee the word related wellbeing dangers/specialists in the working environment which may do sick wellbeing to representatives. 2.0 LITERATURE REVIEW 2.1 WHAT IS ERGONOMICS? Biotechnologies is the logical control of fitting working environment conditions and occupation requests to the capablenesss of the working populace, it will in general investigate business related employments that represents a risk of musculoskeletal bombshells and methods of calming them ( Cohen et al, 1997 ) . It is other than the applied logical order that is given to gracefully solace, effectiveness and security into the structure of focuses in the work topographic point ( Shelly and Vermaat, 2010 ) , ergonomic mediation can benefit both manager and representative ( Meriano and Latella, 2008 ) . The International Ergonomics Association characterizes biotechnologies as follows: Biotechnologies ( or human components ) is the logical subject worried about the misgiving of communications among universes and different components of a framework, and the calling that applies hypothesis, rules, informations and techniques to design so as to advance human prosperity and generally speaking framework open introduction. A major figure of variables play a capacity in biotechnologies ; these incorporate natural structure position and movement, ecological components, data and activity each piece great as work association. Biotechnologies contrasts from different Fieldss by its interdisciplinary assault and applied nature ( Dul and Weerdmeester, 1993 ) . The advantages of biotechnologies incorporate occupation fulfillment and improved laborer rationale, included critical thinking capablenesss, and more prominent trustworthiness of change. Including staffs can help to put occupation dangers, propose approaches to order these risks and working with course in make up one’s disapproving of how to set this control in topographic point. 2.2 WHO IS AN ERGONOMIST? An Ergonomist is one who has equivalent perception of the connection between universes ‘ health and universes ‘ open introduction ( Schlick, 2009 ) contemplating the occupation, gear utilized and data utilized ( hypertext move convention:/en.wikipedia.org/wiki/Ergonomics ) . Blending to Dul and Weerdmeester, 1993, the expert ergonomists can work for the legislatures ( resolution law ) , creating foundations ( colleges and schools ) , inquire about constitutions, the administration business ( consultancy ) and creation segment ( word related wellbeing administrations, powers segments, plan areas, look into segments, and so forth ) , they other than composed that the ergonomist features the nations where ergonomic comprehension is vital, gives ergonomic rules and exhorts inside decorators, purchasers, bearing and representatives, on which are increasingly adequate frameworks. 2.3 HISTORY OF ERGONOMICS: Study of Ergonomics goes back to 1717, when Bernadino Ramazzini, male parent of word related clinical claim to fame, estimated on factors inside the workplace that added to his patients ‘ unwellnesss, he portrayed fierce and sporadic signals, bound and determined position and tonic strain on the musculus as variables that added to musculoskeletal strivings in his patients ( Meriano and Latella, 2008 ) . In any case, in the United Kingdom, biotechnologies began in 1917 in World War I when the Department of Scientific and Industrial Research and the Medical Research Council were approached to investigate mechanical conditions, exceptionally of weaponries laborers, this prompted the constitution of Industrial Fatigue Research Board who performed look into on above subject in 1929 in light of the extended scope of work ( long periods of work, readiness, mishaps, illuming and airing, and plan of the apparatus. In 1949, the Ergonomics Research Society was built up at a gathering held by a little gathering of research laborers at the Admiralty ; this made the general public the most punctual to be shaped known to mankind ( Meister, 1999 ) . 2.4 LEGAL CONTROL OF ERGONOMICS: The statute fills in as a basic guide in complex cultural scene as it gives standards or rules that characterize unsuitable and satisfactory human conduct. A penetrate in this law can be viewed as offense of the law and the violator could go up against common or condemnable disciplines the lawful arrangement of each legislative legitimate force and at each level of composed society should constantly oblige to modifying requests, so at that spot has and will be a go oning spout of instructing Torahs. It is for this ground the lawful framework depends on builds of human slip-ups. Obligation bar or extenuation is the dismissing of mix-up by test, examination, rating, risk evaluation, disciplinary activity, and precaution redresss. The possibility of a researcher or applied researcher holding contact with law is high, it is astute to go acquainted with the nation of web ( Marras and Karwowski, 2006 ) , as there are a heap of capacities that can be played in area or government regular law activities, laborers ‘ pay cases, charges of legal offenses, assertions or interventions, specialists department hearings, or honors influencing Occupational Safety and Health Administration ( OSHA ) , Environmental Protection Agency ( EPA ) ( Vinal, 1999 ) . Fitting to Health and Safety at Work ( HASAW ) Act 1974, which is resolution law, it expresses that ; it is the obligation of the business to move out a peril evaluation in the work topographic point. Inability to this is viewed as a penetrate in the law and has its belongings. 2.5 METHODS OF UNDERTAKING ERGONOMIC ASSESSMENT The cardinal finish of human-focused innovation is to fit human highlights, for example, natural structure size, qualities and failings, and capablenesss and propensities with the applicable properties of gear, endeavors, and procedure ( Kroemer, 2006 ) . The various techniques utilized in the examination of biotechnologies incorporate ; I Physical strategies II Psycho physiological strategies III Behavioral and Cognitive Methods IV Team strategies V Environmental strategies VI Macroergonomics strategies ( Stanton et al. , 2005 ) Every one of these strategies make utilization of the accompanying methods recorded underneath ; Estimation crews Anthropometric methods Estimating enthusiastic capablenesss Estimating musculus quality Estimating mental remaining burden Estimating vision capablenesss Deliberate gathering of data The perfect field examination apparatuses utilized ought to have the undermentioned properties ; Prescient: the device should flexibly prognostic advance of danger of musculoskeletal hurt, Vigorous: can be utilized in any work situation, Modest: apparatus can be accessible at least monetary expense, Non-intrusive: ought to non sway when specialist performs or technique work process, Snappy: examination could be performed quickly, Simple to use: device could be utilized with least arrangement, ( Marras and Karwowski, 2006 ) . 3.0 METHODOLOGY 3.1 INTEGRATED ERGONOMICS ASSESSMENT FOR THE WORK STATION For the goal of this examination to be done, a few conventions would hold to be met. The main thing that would be done is to procure a work station that can be utilized to move out an ergonomics evaluation, and the Help Desk in the Learning Resource Center ( LRC ) has been chosen. A proposed getting was set together with the Manager of the LRC to procure authorization to move out the examination, the chief affirmed of this and sent ne

The UNIFORM CIVIL CODE - Free Essay Example

UNIFORM CIVIL CODE Introduction India is a secular state, worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s largest democracy and second most populous country (1,205,073,612 in 2012) emerged as a major power in the 1990s. It is militarily strong, has major cultural influence and a fast-growing and powerful economy. With its many languages, cultures and religions, India is highly diverse. This is also reflected in its federal political system, whereby power is shared between the central government and 28 states. Religions not only have been serving as the foundation of the culture of India, but have had enormous effect on Indian politics and society. In India, religion is a way of life. It is an integral part of the entire Indian tradition. A vast majority of Indians, (over 93%) associate themselves with a religion. According to the 2001 census 80.5% of the population of India practice Hinduism, Islam (13.4%), Christianity (2.3%), Sikhism (1.9%), Buddhism (0.8%) and Jainism (0.4%) are the other major religions followed by the people of India. There are also numerous minor tribal traditions, though these have been affected by major religions such as Hinduism, Buddhism and Christianity. It is in this diverse context we have to analyze the necessity of Uniform civil code. What is Uniform Civil Code ? Uniform civil codeis in India. It is a debate to replace the personal laws which is based on the scriptures and customs of each major religious community in the country with a common set governing every citizes these laws are distinguished between from publiclawand cover marriage, divorce, inheritance, adoption and maintenance. UNIFORM CIVIL CODE: Uniform civil code was in the India only. It is the debate to replace the personal laws which is based on the scriptures and customs of each major religious community in the country. This code clarified from public law and cover marriage, divorce, inheritance, adoption and specially maintenance. In Article 44 of the India Directive Principles sets the implementation as duty of the state. This has been became secularism in India. This issue has became the most controversial issue during the Shah Bano case in 1985. Then the debate focus on Muslims Personal laws, which is totally based on the sharia law and remains unreformed since 1937, permitting them as a unilateral divorce and polygamy in India. The Bano case has been made totally politicised public issue which is focused on identify politics. Which means attacking specific religious minorities versus protecting its cultural identify. Article 44: There are much as a the Bharatiya Janata Party who would like to introduce a Uniform Civil Code and it confronts several obstacles in bringing this about. Buoyed by the BJPs recent victories in the assembly elections in the Haryana, Jharkhand and Maharashtra, Lok Sabha MP Yogi Adityanath tell by the Parliament that the time had come for the government to enact a common Uniform Civil Code. Agriculture Minister Radha Mohan Singh went a step further by insisting there was no harm in having a debate on both the Uniform Civil Code and on Article 370, which mandates a special status for the Jammu and Kashmir. Would a uniform code act on the personal laws of only one community ? Not at all. The approach that a uniform civil code would necessitate change in only Muslim personal law is not correct. . For instance, the connected to succession among Hindus is unequal in the way it treats men and women. A truly modern ,secular ,non-discriminatory and progressive code would ,therefore ,mean changes in all personal laws .The concept of the à ¢Ã¢â€š ¬Ã…“Hindu undivided familyà ¢Ã¢â€š ¬Ã‚  ,aeast insofar as it pertains to succession ,would also obviously have to undergo a change under uniform civil code. Similarly ,Muslim ,Christian and other personal laws too would have to change. This also explains why historically changes in per sonal law have been resisted not just by one community, but by the ruling doctrine in all of them. It is one of the most controversial topic in the society. The uniform civil code clearly states that à ¢Ã¢â€š ¬Ã…“one country one law à ¢Ã¢â€š ¬Ã…“irrespective of Religion, caste etc. It states that a person has to follow the law given out by the government. No matter what religion he or she is the person has to follow the law. And uniform civil code is required for India. The government can compile the law by taking all the good things from all the religions and make as uniform civil code.As things stand, there are different laws governing these manner for different communities in India. Thus, the laws governing divorce among Hindus would be different, Hindus would be different from those pertaining Muslims or Christians and so on. What is good of one couple of one religion will be good for the couple of another religion. Religion should not play a major part in our day to da y life. The uniform civil code is totally different from religion. Religions like Muslim has personal law in which polygamy still exist. It is one of the major issue in the current scenario. The uniform civil code helps to remove polygamy and such other things in which personal law is wrong. It should come from the constitution right accorded to every citizen and or from any religion or traditional custom. If a law is formed with respect to any particular religion then it would create major problems. The law should be created irrespective of religion or tradition. The uniform civil code is required for the development and patriotism. We follow the law laid down but the constitution of India. This will help us to adapt current requirement and we as an Indian need not follow the old, Ancient and outdated custom and tradition. We should be à ¢Ã¢â€š ¬Ã…“INDIANà ¢Ã¢â€š ¬Ã‚  first and then come the religion, caste or whatever it is. The concept of separate civil law is very harmful f or the country betterment. For example: A Muslim having 4 wives besides the pure violation of all fundamental womenà ¢Ã¢â€š ¬Ã¢â€ž ¢s right. It also wrong thing in the other peopleà ¢Ã¢â€š ¬Ã¢â€ž ¢s view which creates a bad impact in the society. If the men divorces any one of his wives the life of the women gets totally spoiled. It can be also called as SOFT TERRORISM. The population of men and women is nearly equal in Islam. If an Islamic man has more than 2 or 3 wives there will be a shortage of Islamic womenà ¢Ã¢â€š ¬Ã¢â€ž ¢s. This gives extremists among them a big incentive to create a civil war among different religions. According to article 44 laid down n the constitution states that à ¢Ã¢â€š ¬Ã…“The state shall Endeavour to secure for the citizens a uniform civil code throughout territory of Indiaà ¢Ã¢â€š ¬Ã‚ . As article 37 of Indian constitution makes clear that, the directive principlesà ¢Ã¢â€š ¬Ã‚  shall not be enforced by any court of lawà ¢Ã¢â€š ¬Ã‚ . Never theless, they are fundamental governance of the country. Many great people like justice Katju has accepted and strong supporters of uniform civil code. If the government takes strict action and makes it possible the uniform civil code should implied as soon as possible but also it should be dealt in a very proper manner because it is one of the sensitive issue and ità ¢Ã¢â€š ¬Ã¢â€ž ¢s outcomes of people against it can be rebel and war. As a conclusion I would say that a secular India needs a uniform civil code but urgent need to force any uniform civil code on an unwilling population is not necessary.Most people are not ready to adopt truly secular laws separated from religious customs. The Uniform Civil Code can be successfully introduced only after achieving improved levels of literacy, awareness on various socio-political issues, enlightened discussions and increased social mobility. The ultimate aim of reforming uniform civil code should be for ensuring equality, unity an d integrity of the nation and justice both men and women. So, it can be inferred from the above judgments that the Honorable Supreme Court has reiterated about the need of Uniform Civil Code again and again and has settled the controversies and ambiguities which have arisen due to the apparent conflicts in the personal laws. If the Uniform Civil Code would have been implemented for whole of the country then such kind of controversial issues would have been resolved by the statutory enactments only. India is a country of Unity in Diversity having Multi religions and cultures. So, civil matters of the citizens should be taken in the same clutches of law only then the prime constitutional goal of fraternity can be materialized in the real sense otherwise these divisive forces would continue to violate the constitutional spirit. So, in this sense uniform civil code is the need of the hour. A strong political will is required for the same along with the feeling of religious tolerance and mutual respect on part of each and every citizen of India. Though, Art. 37 of the Constitution of India mandates that the provisions contained in this part (Part-IV) shall not be forced by any Court, but the principles therein laid down are nevertheless fundamental in the governance of the Country and it shall be the duty of the State to apply these principles in making of laws , the Parliament has failed to discharge this Constitutional obligation in translating the principle of Art. 44 in to law by taking effective steps in this regard. The subject matters like inheritance, succession, Wills, Gifts, adoptions and maintenance are no longer the subjects having close affinity with religion, rather, these subjects are purely and squarely falling within the domain of Civil Laws. Parliament must, in its utmost wisdom, discriminate between issues touching Constitutional goals and issues pertaining to political end. The paramount objective of unity and integrity of India as resolved by t he People of India in the Preamble and agreed to be obeyed as Fundamental Duty under Art. 51A(c) of the Constitution of India, though not enforceable like directives, could be achieved only when, from out of various measures, directive of Art. 44 is transformed in to enforceable Uniform Civil Code.But single or uniform civil law can strengthen the unity of the nation and forge a country of people known for their acceptance of progressive laws with inbuilt equality between communities and also between both men and women. However, it is a mirage for women. A decision on Article 44 should be the concern of the entire nation in general and of the women in particular. In case it is appliance it will lay the foundation for women to overcome many social evils like dowry system, bigamy etc. which makes a woman feel underneatcase Case :- In the city of Mushirdabad it was found that in one survey 44.83% of parents got their daughters support to marriage. In the popular of these cases, t he daughter were in their teens as young as 10. This is after all India where in order marriages are still common and marriage of undergoing girls is not uncommon. We can see in these cases that the old problem of local custom is simply trumping Islamic law as a problem that has led to the passing of the Sharia law of 1938 in the first place. In the case of dowry not mahr it was found that a majority of the Muslims are also paying dowry in direct abuse of the Muslim law. In the case of mahr it was typically fixed at such a high price that the men were not paying much if any to the wife at the time of marriage. Rather then it was kept as a safety by the husband should divorce take place, the wife could demand her mahr. In the case of divorce it was found that not only were man not to come the require 3 months after pronouncing talaq but that the majority of divorce were taking place in front of local people not Qazis or before the courts DR Syed Abdul hafiz conducted the study of wes t Bengal Muslims by writing divorce removed Muslim women in west Bengal are living a unhappy life. SUGGESTION:- As a suggestion I would say that a secular India needs a uniform Civil Code but urgent need to force any UCCon unwillingly population is notnecessary. Manypeople would not readily accept secular laws separated from religiouscustoms. Itcan be successfully introduced only after achieving improved levels ofliteracy, enlighteddiscussions, increasedsocial mobility awareness on various social-politicalissues. Itsaim should be for ensuringequality, unity Integrity of thenation justicefor both men and women Conclusion:- As a conclusion I would say that a secular India needs a uniform civil code but urgent need to force any uniform civil code on an unwilling population is not necessary. Most people are not ready to adopt truly secular laws separated from religious customs. The Uniform Civil Code can be successfully introduced only after achieving improved le vels of literacy, awareness on various socio-political issues, enlightened discussions and increased social mobility. The ultimate aim of reforming uniform civil code should be for ensuring equality, unity and integrity of the nation and justice both men and women.

Power and Love in Marriage A Comparison of An Ideal Husband and The Canterbury Tales - Literature Essay Samples

Chaucer and Wilde, although writing 500 years apart, both present power as an intrinsic aspect of marital life in Medieval and Victorian patriarchal societies. January sexually dominates May in ‘The Merchant’s Tale’, while in ‘An Ideal Husband’ it is Lady Chiltern who exerts domestic power over her husband. Though May gains independence from January, deceiving him in a manner which conforms to the fabliau tradition, Lady Chiltern’s reconciliation with Robert comes at the price of her marital power and autonomy. In ‘The Merchant’s Tale’, January’s uses the sacrament of marriage as an excuse to exert carnal power over May. Chaucer describes how ‘the bride was broght abedde as stille as stoon’, a use of alliteration and sibilance which emphasizes May’s unresponsive state, portraying her as submissive to January’s advances. This passivity acts in juxtaposition to January’s lusty excitement, especially when he explains how he ‘moot trespace // to yow, my spouse, and yow greetly offende’. Medieval society held the view that once a marriage was consummated it was permanent, a notion which explains January’s haste to sexually dominate May. Indeed, January’s use of the modal verb ‘moot’ suggests that he regards sex as a necessity. This stance is reflective of a 14th century view that a wife’s primary role was to produce an heir who could inherit the family’s fortune through the law of p rimogeniture. However, January anticipates that the experience of sex will be unpleasant for May, a realization which heightens that sense that January ‘seeks to take control of May’s sexuality’ (Fiona Dunlop) for his own personal gain. Certainly, we are never given an insight into May’s thoughts, with Chaucer drawing attention to this fact by exclaiming that ‘God woot what May thought in hir herte’. This statement once again draws attention to May’s compliant nature, highlighting how women were regarded as inferior to men in Medieval society, being expected to remain subservient to their husbands at all times. January’s sense of ownership over May’s body is examined further when requests ‘hire strepen hire al naked’, forcing her to ‘obeyeth, be hire lief or looth’. Chaucer’s use of alliteration throws weight onto how we are never given May’s perspective of events, strengthening the feeling that she is sexually submissive to her husband. Indeed, January’s affection towards his wife seems to be founded in his sexual superiority and control, a revelation which suggests that Medieval marriages were more concerned with power than love. While January exerts sexual power over May in ‘The Merchant’s Tale’, it seems that Lady Chiltern holds the power to influence her husband’s decisions in ‘An Ideal Husband’. At the end of Act 1, Robert tells Lady Chiltern of his plans to support the fraudulent Argentine canal scheme. Gertrude responds to this disclosure in horror, dictating that Robert ‘must never see (Lady Chiltern) again’, and instructing him to ‘write that (he) declines to support this scheme of hers’. Gertrude’s use modal verbs and imperatives suggests that she holds authority over Robert’s actions, forging the feeling that her control over her husband could potentially permeate his political choices. This would have appalled Victorian audiences, especially seeing as wives were expected to confine themselves to the domestic sphere, supporting their husbands in all decisions, and not concerning themselves in the politics of the patriarc hal public sphere. Lady Chiltern’s power over Robert is also explored through her idealization of him. Indeed, Gertrude’s veneration of Robert prompts Sos Elitis to observe that ‘both (Robert’s) marriage and the country’s financial integrity are rendered vulnerable through an insistence upon unrealizable standards of morality’, a realization which accentuates the far-reaching implications of Lady Chiltern’s control over her husband. Gertrude’s domestic power is also examined when Lord Goring implores to her that Robert’s life and love are ‘in your hands’. This phrase is repeated twice, emphasizing how Lady Chiltern has the ability to alter Robert’s future due to the control she wields over him from her position as his wife. Certainly, Gertrude’s marital power seems to govern her marriage to Robert, however there is also a sense that her influence over him would not be possible without a basis of love, thereby suggesting that power and love are inextricably linked within marriage. Just as Lady Chiltern exerts her domestic power over Robert, May is able to control aspects of her marriage to January through various acts of deception. After discovering Damyan’s feelings of courtly love towards her, May ‘taketh him by the hand, and hard him twiste’. This line employs a harsh assonance, enhancing the sense of May’s growing assertiveness. Her actions are cunning and secretive, revealing her duplicitous character, and accentuating her willingness to find a reprieve from her unsatisfying marriage to January. Maurice Hussey comments that May’s quest for independence ‘shows the gradual dominance of the bride, who takes a lover and deceives her old husband until the end of the story’, conforming to the fabliau tradition. However, May’s increasing autonomy and violation of one of the Ten Commandments, ‘Thou shalt not commit adultery’, would have shocked Chaucer’s contemporary readers. On the other h and, modern feminist readers would applaud May for pursuing independence from January, aligning her defiance against Medieval conventions with examples of females exerting power within a patriarchal society. When January catches May having sex with Damyan, she maintains a mask of deceit to disguise her immoral act, thereby demonstrating her shrewd control of the situation. She cunningly tricks January into believing that she ‘dide it in ful good entente’, an excuse which he foolishly believes. Therefore, January’s naà ¯ve acceptance of May’s explanation increases the sense that she has taken control of their loveless marriage. Likewise to May, Wilde depicts Lady Chiltern as exerting power over her husband, however while May’s control grows stronger towards the end of ‘The Merchant’s Tale’, Lady Chiltern’s power is significantly diminished at the conclusion of ‘An Ideal Husband’. Gertrude loss of independence and autonomy is demonstrated when she exclaims that ‘a man’s life is of more value than a woman’s’. This comment is a direct repetition of Lord Goring’s chauvinistic speech which ‘consigns women to a purely domestic and supportive role’ (Sos Eltis), highlighting how Lady Chiltern has submitted to Victorian patriarchal views. While Wilde’s contemporary audiences would have accepted this view of women as inferior and subordinate to men, a modern feminist audience would be outraged at such a comment, seeing it as a tragic loss of Gertrude’s autonomy within her marriage. Certainly, Lady Chiltern seem s to have conformed her role as wife to the Victorian ideal portrayed in Coventry Patmore’s ‘The Angel in the House’, becoming submissive and obedient to her husband. It seems that Gertrude’s compliance is an essential aspect of her reconciliation with Robert. In the play’s final line, Lady Chiltern declares that it is ‘love, and only love’ she feels for her husband, exclaiming that ‘for both of (them) a new life is beginning’. The optimism of their ‘new life’ seems to be inextricably linked to Gertrude’s loss of marital power, suggesting that love cannot survive in a relationship in which the wife has control over her husband, especially within the patriarchy of Victorian society. Overall, power is a fundamental aspect of all the marriages in ‘A Merchant’s Tale’ and ‘An Ideal Husband’. May is originally sexually dominated by January, yet she gradually gains control of her own sexuality, increasing her independence by deceiving her husband and committing adultery, proving the loveless nature of their marriage. However, while Lady Chiltern initially idealizes her husband and holds a significant amount of domestic power over him, this is reversed by the end of the play when Gertrude submits Robert and Victorian patriarchal ideals, allowing for love to flourish.

Gestalt and Person-Centered Therapy Debate Free Essay Example, 1000 words

Moderator: Dr. Harris do you agree with Dr. Andrew? Dr. Harris: Not at all. I believe the best therapy to give the patient is to allow them to communicate their own feelings without interruption. An individual is able to feel like a unique entity unlike Gestalt’s therapy where the client is not made to feel so important. Dr. Andrew: I don’t agree with my friend on this. This is because as a psychologist I am not allowed to contradict or disagree with my patient. Do you think that is right? That is not the way we should be treating our patients. As the professional here I have the mandate to suggest what is right for my patient and I should not watch them make wrong decisions in the name of person centered therapy. Moderator: Dr. Harris can you respond to that? Dr. Harris: Maybe there is something that my friend here does not understand. The whole process in person centered therapy is aimed at freeing someone from all the obstacles and allows or promotes normal growth and development. During this time the client is supposed to move from more rigid person to a more fluent person (C. We will write a custom essay sample on Gestalt and Person-Centered Therapy Debate or any topic specifically for you Only $17.96 $11.86/pageorder now Rogers). Moderator: What conditions are necessary to make this person less rigid? Dr. Harris: Thank you for that. One of the conditions is that as a therapist I should be congruent. Secondly I must develop a positive unconditional regard for my client and finally I should be able to show empathy for my patient. If all these conditions are present then the process of person centered therapy proceeds without difficulty. Dr. Andrew: You realize that those conditions are very difficult to come across especially with the kind of the world we are living in. It is high demanding and full of hustles. This is the reason I prefer Gestalts therapy because I don’t have to set these conditions for my patient. My process of treatment is experimental based on the patient’s development and I have a chance evaluate my client anytime as opposed to your method where you don’t interrupt. Moderator: Based on what Dr. Andrew has just said in relation to the 3 conditions you have just told us. Don’t you think that person centered is a conditioned process? Dr. Harris: It is a conditioned process that is the truth. I would like to tell you that conditioned processes are some of the most reliable processes of therapy. Let us refer back to the B. F Skinners conditioned experiments. Skinner was able to end up with the same results every time he rang the bell. This is actually what the therapy does and it becomes easy to treat a patient.

Study On The Determinants Of Financial Derivatives - Free Essay Example

Sample details Pages: 21 Words: 6230 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Introduction Our research article is à ¢Ã¢â€š ¬Ã…“Determinants of Financial Derivativesà ¢Ã¢â€š ¬?. Before moving towards the definition of main purpose and significance of our research article, we want to give a brief introduction of the core keywords of our research article which are à ¢Ã¢â€š ¬Ã…“Financial Derivativesà ¢Ã¢â€š ¬?. 1.1. Introduction A derivative is a financial instrument (or more simply, an agreement between two people/two parties) that has a value determined by the future price of something else. Derivatives can be thought of as bets on the price of something. Suppose you bet with your friend on the price of a bushel of corn. If the price in one year is less than $3 your friend pays you $1. If the price is more than $3 you pay your friend $1. Thus, the underlying in the agreement is the price of corn and the value of the agreement to you depends on that underlying.[1] So derivatives are the collective name used for a broad class of financial instruments that derive their value from other financial instruments (known as the underlying), events or conditions. Essentially, a derivative is a contract between two parties where the value of the contract is linked to the price of another financial instrument or by a specified event or condition. Derivatives are usually broadly categorized by the: Relationsh ip between the underlying and the derivative (e.g. forward, option, swap) Type of underlying (e.g. equity derivatives, foreign exchange derivatives, interest rate derivatives, commodity derivatives or credit derivatives) Market in which they trade (e.g., exchange traded or over-the-counter) Pay-off profile (Some derivatives have non-linear payoff diagrams due to embedded optionality) Another arbitrary distinction is between: Vanilla derivatives (simple and more common) and Exotic derivatives (more complicated and specialized) There is no definitive rule for distinguishing one from the other, so the distinction is mostly a matter of custom. Derivatives are used by investors to Provide leverage or gearing, such that a small movement in the underlying value can cause a large difference in the value of the derivative Speculate and to make a profit if the value of the underlying asset moves the way they expect (e.g. moves in a given direction, stays in or ou t of a specified range, reaches a certain level) Hedge or mitigate risk in the underlying, by entering into a derivative contract whose value moves in the opposite direction to their underlying position and cancels part or all of it out Obtain exposure to underlying where it is not possible to trade in the underlying (e.g. weather derivatives) Create optionability where the value of the derivative is linked to a specific condition or event (e.g. the underlying reaching a specific price level) Don’t waste time! Our writers will create an original "Study On The Determinants Of Financial Derivatives" essay for you Create order Uses Hedging Hedging is a technique that attempts to reduce risk. In this respect, derivatives can be considered a form of insurance. Derivatives allow risk about the price of the underlying asset to be transferred from one party to another. For example, a wheat farmer and a miller could sign a futures contract to exchange a specified amount of cash for a specified amount of wheat in the future. Both parties have reduced a future risk: for the wheat farmer, the uncertainty of the price, and for the miller, the availability of wheat. However, there is still the risk that no wheat will be available because of events unspecified by the contract, like the weather, or that one party will renege on the contract. Although a third party, called a clearing house, insures a futures contract, not all derivatives are insured against counter-party risk. From another perspective, the farmer and the miller both reduce a risk and acquire a risk when they sign the futures contract: The farmer reduces the risk that the price of wheat will fall below the price specified in the contract and acquires the risk that the price of wheat will rise above the price specified in the contract (thereby losing additional income that he could have earned). The miller, on the other hand, acquires the risk that the price of wheat will fall below the price specified in the contract (thereby paying more in the future than he otherwise would) and reduces the risk that the price of wheat will rise above the price specified in the contract. In this sense, one party is the insurer (risk taker) for one type of risk, and the counter-party is the insurer (risk taker) for another type of risk. Hedging also occurs when an individual or institution buys an asset (like a commodity, a bond that has coupon payments, a stock that pays dividends, and so on) and sells it using a futures contract. The individual or institution has access to the asset for a specified amount of time, and then can sell it in the future at a specified price according to the futures contract. Of course, this allows the individual or institution the benefit of holding the asset while reducing the risk that the future selling price will deviate unexpectedly from the markets current assessment of the future value of the asset. Derivatives traded at the Chicago Board of Trade. Derivatives serve a legitimate business purpose. For example, a corporation borrows a large sum of money at a specific interest rate.[2] The rate of interest on the loan resets every six months. The corporation is concerned that the rate of interest may be much higher in six months. The corporation could buy a forward rate agreement (FRA). A forward rate agreement is a contract to pay a fixed rate of interest six months after purchases on a notional sum of money.[3] If the interest rate after six months is above the contract rate the seller pays the difference to the corporation, or FRA buyer. If the rate is lower the corporation would pay the difference to the seller. The purchase of the FRA would serve to reduce the uncertainty concerning the rate increase and stabilize earnings. Speculation and arbitrage Derivatives can be used to acquire risk, rather than to insure or hedge against risk. Thus, some individuals and institutions will enter into a derivative contract to speculate on the value of the underlying asset, betting that the party seeking insurance will be wrong about the future value of the underlying asset. Speculators will want to be able to buy an asset in the future at a low price according to a derivative contract when the future market price is high, or to sell an asset in the future at a high price according to a derivative contract when the future market price is low. Individuals and institutions may also look for arbitrage opportunities, as when the current buying price of an asset falls below the price specified in a futures contract to sell the asset. Speculative trading in derivatives gained a great deal of notoriety in 1995 when Nick Leeson, a trader at Barings Bank, made poor and unauthorized investments in futures contracts. Through a combination of poo r judgment, lack of oversight by the banks management and by regulators, and unfortunate events like the Kobe earthquake, Leeson incurred a $1.3 billion loss that bankrupted the centuries-old institution. Types of derivatives OTC and Exchange-traded Broadly speaking there are two distinct groups of derivative contracts, which are distinguished by the way they are traded in the market: Over-the-counter (OTC) derivatives are contracts that are traded (and privately negotiated) directly between two parties, without going through an exchange or other intermediary. Products such as swaps, forward rate agreements, and exotic options are almost always traded in this way. The OTC derivative market is the largest market for derivatives, and is largely unregulated with respect to disclosure of information between the parties, since the OTC market is made up of banks and other highly sophisticated parties, such as hedge funds. Reporting of OTC amounts are difficult because trades can occur in private, without activity being visible on any exchange. According to the Bank for International Settlements, the total outstanding notional amount is $684 trillion (as of June 2008).[5] Of this total notional amount, 67% are interest rate contra cts, 8% are credit default swaps (CDS), 9% are foreign exchange contracts, 2% are commodity contracts, 1% are equity contracts, and 12% are other. Because OTC derivatives are not traded on an exchange, there is no central counter-party. Therefore, they are subject to counter-party risk, like an ordinary contract, since each counter-party relies on the other to perform. Exchange-traded derivative contracts (ETD) are those derivatives instruments that are traded via specialized derivatives exchanges or other exchanges. A derivatives exchange is a market where individualsà ¢Ã¢â€š ¬Ã¢â€ž ¢ trade standardized contracts that have been defined by the exchange. A derivatives exchange acts as an intermediary to all related transactions, and takes Initial margin from both sides of the trade to act as a guarantee. The worlds largest derivatives exchanges (by number of transactions) are the Korea Exchange (which lists KOSPI Index Futures Options), Eurex (which lists a wide range of Europea n products such as interest rate index products), and CME Group (made up of the 2007 merger of the Chicago Mercantile Exchange and the Chicago Board of Trade and the 2008 acquisition of the New York Mercantile Exchange). According to BIS, the Scombined turnover in the worlds derivatives exchanges totaled USD 344 trillion during Q4 2005. Some types of derivative instruments also may trade on traditional exchanges. For instance, hybrid instruments such as convertible bonds and/or convertible preferred may be listed on stock or bond exchanges. Also, warrants (or rights) may be listed on equity exchanges. Performance Rights, Cash xPRTs and various other instruments that essentially consist of a complex set of options bundled into a simple package are routinely listed on equity exchanges. Like other derivatives, these publicly traded derivatives provide investors access to risk/reward and volatility characteristics that, while related to an underlying commodity, nonetheless are distinct ive. Common derivative contract types There are three major classes of derivatives: Futures/Forwards are contracts to buy or sell an asset on or before a future date at a price specified today? A futures contract differs from a forward contract in that the futures contract is a standardized contract written by a clearing house that operates an exchange where the contract can be bought and sold, while a forward contract is a non-standardized contract written by the parties themselves. Options are contracts that give the owner the right, but not the obligation, to buy (in the case of a call option) or sell (in the case of a put option) an asset. The price at which the sale takes place is known as the strike price, and is specified at the time the parties enter into the option. The option contract also specifies a maturity date. In the case of a European option, the owner has the right to require the sale to take place on (but not before) the maturity date; in the case of an American option, the owner can require the sale to take place at any time up to the maturi ty date. If the owner of the contract exercises this right, the counter-party has the obligation to carry out the transaction. Swaps are contracts to exchange cash (flows) on or before a specified future date based on the underlying value of currencies/exchange rates, bonds/interest rates, commodities, stocks or other assets. More complex derivatives can be created by combining the elements of these basic types. For example, the holder of a swaption has the right, but not the obligation, to enter into a swap on or before a specified future date. 1.2. PROBLEM STATEMENT: The problem statement on which we are doing research is as follows: What are the Determinants that define the activities towards Financial Derivatives? 1.3. OBJECTIVE OF THE STUDY: The main objective of our research is that which one of this independent variable like Risk, Yield Spread etc affects the financial derivatives the most or which one of the following indicates the most involvement in financial derivative. 1.4. Limitations:- There are few limitations which are as under. The data which we are considering is only from Islamabad stock exchange. Out of numerous variables we have selected only four. 1.5. Plan:- Rest of the thesis is organized as fallows. In chapter II we have produced a literature review. In chapter III Data is collected and statistical tools are applied. In chapter IV the results are interpreted. In chapter V conclusions and recommendations are given. Chapter II Literature Review Credit derivatives and risk aversion in this article author discuss the valuation of credit derivatives in extreme regimes such as when the time-to-maturity is short, or when payoff is contingent upon a large number of defaults, as with senior trenches of collateralized debt obligations. In these cases, risk aversion may play an important role, especially when there is little liquidity, and utility-indifference valuation may apply. Specifically, we analyze how short-term yield spreads from default able bonds in a structural model may be raised due to investor risk aversion. Using derivatives to manage risk this Refers to some well-publicized failures with derivatives, and seeks explanations for these problems; points to the role of the US treasury department as a profit centre, and presents a three-phase risk management framework for the successful use of derivatives risk identification/determination of the desired risk profile, implementation (to include factors such as the rol e of the board in the co-ordination of resources), evaluation/feedback. Shows how three celebrated cases of derivatives fiasco failed in respect of various aspects of this framework (these being Gibson Greetings, Procter Gamble and Metallgesellschaft AG). Petersen and Thiagarajan (2000) Estimates and compares the risk exposure of two firms operating in the gold mining industry. Suggests that the difference between the two firms lies in the risks that they choose to manage and the tools that they use. It presents an extensive analysis of the building blocks underlying the effects of risk management including operating cash flows, taxable income, investment opportunities and equity risk exposure. Shows how one uses adjustments to the quality of ore extracted as a partial hedge against gold price fluctuations, whilst the other uses derivatives to reduce the fluctuations in its revenues and therefore operating cash flows. Comments on the incentives for risk reduction and their effec t on the management of gold price risk, noting that compensation strategies can lead to differing managerial objectives. Argues that the use of alternative forms of risk management is a conscious choice by firms and that the use of derivatives should be seen against the alternative tools available. Alister and Mansfield (1980) states that Derivatives have been an expanding and controversial feature of the financial markets since the late 1980s. They are used by a wide range of manufacturers and investors to manage risk. This paper analyses the role and potential of financial derivatives investment property portfolio management. The limitations and problems of direct investment in commercial property are briefly discussed and the main principles and types of derivatives are analysed and explained. The potential of financial derivatives to mitigate many of the problems associated with direct property investment is examined. The management of foreign currency risk: derivatives us e and the natural hedge of geographic diversification Summer 1999 Notes the lack of evidence of large companies use of foreign exchange derivatives (FXDs), related to the geographical diversification natural hedge, an alternative method of avoiding risk. Builds a model of company behavior, sampling 309 US companies by industry, including FXD, foreign sales, a sales-based Herfindahl index, and market value. Finds a significant and positive relationship between the use of FXDs and the level of foreign exchange exposure; and a negative relationship between geographic dispersion and FXD. Shows that there are economies of scale in FXD use, and that the findings are robust to industry membership and geographic diversification. Emory presents evidence consistent with managers using derivatives and discretionary accruals as partial substitutes for smoothing earnings. Using 1994-1996 data for a sample of Fortune5 00 firms, I estimate a set of simultaneous equations that captures managers incentives to maintain a desired level of earnings volatility through hedging and accrual management. These incentives include increasing managerial compensation and wealth, reducing corporate income taxes and debt financing costs, avoiding underinvestment and earnings surprises, and mitigating volatility caused by low diversification. After controlling for such incentives, I find a significant negative association between derivatives notional amounts and proxies for the magnitude of discretionary accruals. Gay and Nam analyzed the underinvestment problem as a determinant of corporate hedging policy. We find evidence of a positive relation between a firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s derivatives use and its growth opportunities, as proxied by several alternative measures. For firms with enhanced investment opportunities, derivatives use is greater when they also have relatively low cash stocks. Firms whose investment expenditures are positively correlated with internal cash flows tend to have smaller derivatives positions, which suggest potential natural hedges. Our findings support the argument that firmsà ¢Ã¢â€š ¬Ã¢â€ž ¢ derivatives use may partly be driven by the need to avoid potential underinvestment problems. Patil (2008) states that the Reserve Bank of Indias Working Group on Rupee Derivatives has, interalia, recommended introduction of exchange traded derivatives to supplement OTC derivatives. But before we introduce exchange traded interest rates futures it is necessary to be fully aware of the ground realities. The basic issue is the healthy development of the market and abolition of the regulations that artificially protect the interests of a set of intermediaries whose role and functions have got significantly reduced with massive induction of IT applications into the capital and financial markets. Regulatory reforms should facilitate continuous reduction in transaction costs and up gradation of transactional efficiency across different segments of the market. A regulatory regime that ends up protecting the role of certain players merely because they played a useful role in the past in the development of some segments of the markets would be doing a disservice Hentschel and Kothari makes Public discussion about corporate use of derivatives focuses on whether firms use derivatives to reduce or increase firm risk. In contrast, empirical academic studies of corporate derivatives use take it for granted that firms hedge with derivatives. Using data from financial statements of 425 large U.S. corporations, we investigate whether firms systematically reduce or increase their riskiness with derivatives. We find that many firms manage their exposures with large derivatives positions. Nonetheless, compared to firms that do not use financial derivatives, firms that use derivatives display few, if any, measurable differences in risk that are associated with the use of derivatives. Brinson, Randolph Hood and Beebower (1986), states that in order to delineate investment responsibility and measure performance contribution, pension plan sponsors and investment managers need a clear and relevant method of attributing returns to those activities that compose the investment management process- investment policy, market timing and security selection. The authors provide a simple framework based on a passive, benchmark portfolio representing the plans long-term asset classes, weighted by their long-term allocations. Returns on this investment policy portfolio are compared with the actual returns resulting from the combination of investment policy plus market timing (over or underweighting asset classes relative to the plan benchmark) and security selection (active selection within an asset class). Data from 91 large U.S. pension plans over the 1974-83 period indicate that investment policy dominates investment strategy (market timing and security selection), explaining on average 93.6 per cent of the variation in tota l plan return. The actual mean average total return on the portfolio over the period was 9.01 per cent, versus 10.11 per cent for the benchmark portfolio. Active management cost the average plan 1.10 per cent per year, although its effects on individual plans varied greatly, adding as much as 3.69 per cent per year. Although investment strategy can result in significant returns, these are dwarfed by the return contribution from investment policy-the selection of asset classes and their normal weights. Markides (1995) concluded that there is increasing evidence (especially in the business press) that over the past decade, many U.S. corporations have restructured. For example, Lewis (1990: 43) estimates that nearly half of large U.S. corporations have restructured in the 1980s. Similarly, a special report on corporate restructuring published in the Wall Street Journal (1985: 1) found that out of the 850 of North Americas largest corporations, 398 (47%) of them restructured. A major problem with many of these studies on restructuring is that they do not define exactly what is meant by restructuring. Corporate actions such as share repurchasing, refocusing, alliances, consolidations and leveraged recapitalizations can all fall under the general term restructuring; therefore, a researcher needs to look at these forms of restructuring separately if any generalizations are to be made. In this study, we focus on one specific type of restructuring, namely corporate refocusing. By this we mean the voluntary or involuntary reduction in the diversification of U.S. firms-usually, but not necessarily, achieved through major divestitures-what Bhagat, Shleifer, and Vishny (1990) call the return to corporate specialization. We focus on this type of restructuring because according to the existing evidence it is by far the most common and most beneficial form of restructuring undertaken by firms (e.g., Lewis, 1990; Wall Street Journal, 1985). According to existing evidence , a significant proportion of major diversified firms in the U.S. have reduced their diversification in the 1980s by refocusing on their core businesses (for statistical evidence, see Lichtenberg, 1990; Mark- ides, 1990; Porter, 1987; Williams, Paez and Sanders, 1988). For example, Markides (1993) reported that at least 20 percent and as many as 50 percent of the Fortune 500 firms refocused in the period 1981-87. He also found that refocusing is a 1980s phenomenon: using the Rumelt (1974) strategic categories of diversification, he reported that whereas only 1 percent of the Fortune 500 firms were refocusing in the 1960s, more than 20 percent were doing so in the 1980s. Other studies have shown that these refocusing firms are characterized by high diversification and poor profitability relative to their industry counter- parts, and that refocusing is associated ex-ante with improved stockmarket value (e.g., Comment and Jarrell, 1991; Markides, 1992a,b; Montgom- ery and Wilson, 1986) . Yet, as Shleifer and Vishny (1991: 54) argue, there is very little ex- post evidence that refocusing is associated with profitability improvements. Doukas and Lang In this study they present evidence that geographic diversification increases shareholder value and improves long-term performance when firms engage in core-related foreign direct (greenfield) investments. Non-core-related foreign investments are found to be associated with both short-term and long-term losses. Our results suggest that the synergy gains stemming from the internalization of markets are rooted in the core business of the firm. Geographic diversification outside the core business of the firm bears strongly against the prediction of the internalization hypothesis. The analysis also shows that, regardless of the industrial structure of the firm (that is, number of segments), foreign direct investments outside the core business of the firm are associated with a loss in shareholder value, whereas core-relat ed (focused) foreign direct investments are found to be value increasing. Unrelated international diversification, however, is less harmful for diversified (multi- segment) than specialized (single-segment) firms. The larger gains to diversified firms suggest that operational and internal capital market efficiency gains are considerably greater in multi-segment than single-segment firms when both expand their core business overseas. James and Finkelshtain (1965) said the effects of multivariate risk are examined in a model of portfolio choice. The conditions under which portfolio choices are separable from consumption decisions are derived. Unless the appropriate restrictions hold on investors preferences or on the probability distribution of risks, the optimal portfolio is affected by other risks. This requires generalizing the usual measures of risk aversion. With one risky asset, matrix measures of risk aversion are used to generalize the results of Arrow (1965) and Pratt (196 4) concerning the effects of risk aversion and wealth on the optimal portfolio. With two risky assets, the choices made by two investors coincide if and only if their generalized risk-aversion measures are identical. Rosss notion of stronger risk aversion is then used to characterize the effect of risk aversion on the level of investment in the riskier asset. Browne (2000) tells us that Active portfolio management is concerned with objectives related to the out performance of the return of a target benchmark portfolio. In this paper, we consider a dynamic active portfolio management problem where the objective is related to the tradeoff between the achievement of performance goals and the risk of a shortfall. Specifically, we consider an objective that relates the probability of achieving a given performance objective to the time it takes to achieve the objective. This allows a new direct quantitative analysis of the risk/return tradeoff, with risk defined directly in terms of pr obability of shortfall relative to the bench- mark, and return defined in terms of the expected time to reach investment goals relative to the benchmark. The resulting optimal policy is a state-dependent policy that provides new insights. As a special case, our analysis includes the case where the investor wants to minimize the expected time until a given performance goal is reached subject to a constraint on the shortfall probability. On the basis of this literature review we have developed the following Theoretical framework. 2.2. THEORATICAL FRAMEWORK: The importance of: Risk_ Response Index Yield Spread_ Response Index Liquidity_ Response Index Geographical Diversification_ Response Index Financial Derivatives (Swap, Option, Future and Forward Contracts) For 2.3 Hypothesis: H0:  µ 3.5 H1:  µ à ¢Ã¢â‚¬ °Ã‚ ¥ 3.5 If the mean respondent is 3.5 or above it means the factor is important because at the rating scale 1 is for strongly disagree and 5 is for strongly agree. Chapter III Data and Methodology 3.1. NATURE OF STUDY: This study was descriptive in nature and will describe the Risk, Yield spread, Liquidity, Geographical diversification in the term of determinants of Financial Derivatives. The study setting for this study is non-contrived in nature i.e. it was conducted in the normal work place and routine working conditions. 3.2. PRIMARY DATA COLLECTION: Data for this study was collected from the participants of the Islamabad Stock Exchange. These people were working or participating in the stock exchange where the people had knowledge about risk, yield spread, liquidity and geographical diversification. That is why; it was easier for us to conduct our research in Islamabad Stock Exchange to conclude our results that which one of the following factors like risk, yield spread, liquidity, and geographical diversification shows the maximum involvement in the determining of financial derivatives. 3.3. RESPONDENTS OF RESEARCH: Data were collected from 100 participants. Participants were asked to fill the questionnaire which was helpful to lead us towards the result and conclusion of our research. All participants were asked to write down on the questionnaire their gender and age. 3.4. RESEARCH INSTRUMENT: Questionnaire is an efficient data collection mechanism where we know exactly what is required and measures the variables of interest. Questionnaires were made with enough number of questions covering all the related areas. This helped us to conclude our result by measuring the affect of determinants on financial derivatives. Questionnaires were personally handed over to the participants by us. All surveys were completed during working hours. Respondents were guaranteed that their data would remain confidential. Respondents were instructed to indicate their opinions about the questions to rate on a Likert Scale. This scale was designed to examine how strongly respondents agree or disagree with statements on a 5-points scale with the following anchors; 1 2 3 4 5 Strongly Disagree Disagree Neutral Agree Strongly Agree 3.5. DATA INTERPRETATION: Statistical tools were used for the interpretation of data. These tools included t-test, correlation and descriptive statistics to find the involvement of independent variables in determining the financial derivatives. In other words, statistical tool of correlation were applied to interpret the relationship between the indexes of independent variables and t-test was used to determine the involvement of independent variable in determining the financial derivatives. The total data was divided into two halves: Participants Below median age (39 and below) Participants above median age (above 39) We have applied sample mean test at  µ=3.5. Chapter IV Findings R1: Risky nature of instrument is not a matter of concern for me. R2: Since high risk means high return therefore I will shift to the risky securities. R3: Would you shift from one stock to another to reduce risk at the cost of return? R4: It is feasible to add a percentage of low risk securities to a portfolio. L1: Is a highly liquid security attractive to an investor L2: The stocks in which you trade are relatively liquid which attracts you towards them. L3: Liquidity reflects the performance of a firm therefore for diversification it is important Y1: Yield spread helps the investor to determine which security would be the better investment. Y2: Change in demand supply of the securities effect the yield spread change therefore I shift towards low yield spread. Y3: The market is forecasting a greater risk of default which implies a slowing economy (narrowing of spreads between bonds of different risk ratings) G1: Geographical diversification increase s the potential return on your investment / portfolio. G2: Geographical diversification allows combining a diversification across domestic and foreign securities. JUNIOR: Risk:  R1 R2 R3 R4 T cal -3.21 -0.77 -3.24 -2.12 T tab 2 2 2 2 Mean 2.96 3.38 3.1 3.2 Standard deviation 1.18 1.09 0.86 0.99 In case of R1, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of R2, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of R3, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of R4, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. Liquidity:  L1 L2 L3 T cal 1.94 -0.69 -0.28 T tab 2 2 2 Mean 3.76 3.42 3.46 Standard deviation 0.94 0.81 0.99 In case of L1, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of L2, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of L3, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. Yield spread:  Y1 Y2 Y3 T cal 0.13 -1.19 -2.60 T tab 2 2 2 Mean 3.52 3.32 3.14 Standard deviation 1.05 1.06 0.97 In case of Y1, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of Y2, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of Y3, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. Geographical Diversification:  G1 G2 T cal 0.32 -0.92 T tab 2 2 Mean 3.54 3.36 Standard deviation 0.89 0.92 In case of G1, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of G2, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. SENIOR: Risk:  R1 R2 R3 R4 T cal -3.44 -2.68 0 5.06 T tab 2 2 2 2 Mean 2.56 3.02 3.5 4.2 Standard deviation 1.51 1.25 1.02 0.97 In case of R1, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of R2, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of R3, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of R4, H0 is rejected it implies people consider this factor as important determinant of financial derivative. Liquidity:  L1 L2 L3 T cal 3.95 3.59 1.78 T tab 2 2 2 Mean 4.08 3.98 3.74 Standard deviation 1.03 0.94 0.94 In case of L1, H0 is rejected it implies people consider this factor as important determinant of financial derivative. In case of L2, H0 is rejected it implies people consider this factor as important determinant of financial derivative. In case of L3, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. Yield spread:  Y1 Y2 Y3 T cal 3.94 -3.16 -0.92 T tab 2 2 2 Mean 3.86 3.1 3.34 Standard deviation 0.64 0.89 1.22 In case of Y1, H0 is rejected it implies people consider this factor as important determinant of financial derivative. In case of Y2, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of Y3, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. Geographical Diversification:  G1 G2 T cal 1.75 5.56 T tab 2 2 Mean 3.72 4.02 Standard deviation 0.88 0.65 In case of G1, H0 is accepted it implies people do not consider this factor as important determinant of financial derivative. In case of G2, H0 is rejected it implies people consider this factor as important determinant of financial derivative. Junior: Correlations R_Index L_Index Y_Index G_Index R_Index Pearson Correlation 1 .310* .002 .163 Sig. (2-tailed) .029 .991 .257 N 50 50 50 50 L_Index Pearson Correlation .310* 1 .366** .326* Sig. (2-tailed) .029 .009 .021 N 50 50 50 50 Y_Index Pearson Correlation .002 .366** 1 .616** Sig. (2-tailed) .991 .009 .000 N 50 50 50 50 G_Index Pearson Correlation .163 .326* .616** 1 Sig. (2-tailed) .257 .021 .000 N 50 50 50 50 *. Correlation is significant at the 0.05 level (2-tailed). In this table above: Association between R_Index and L_Index is 31% which shows a medium relationship. Association between R_Index and Y_Index is 2% which shoes a weak relationship. Association between R_Index and G_Index is 16% which shows a weak relationship Association between L_Index and Y_Index is 36% which shows a medium relationship. Association between L_Index and G_ndex is 32% which shows a medium relationship. Association between Y_Index and G_Index is 61% which shows relatively significant relationship. Senior: Correlations R_Index L_Index Y_Index G_Index R_Index Pearson Correlation 1 .605** .240 .423** Sig. (2-tailed) .000 .093 .002 N 50 50 50 50 L_Index Pearson Correlation .605** 1 .219 .689** Sig. (2-tailed) .000 .126 .000 N 50 50 50 50 Y_Index Pearson Correlation .240 .219 1 .068 Sig. (2-tailed) .093 .126 .640 N 50 50 50 50 G_Index Pearson Correlation .423** .689** .068 1 Sig. (2-tailed) .002 .000 .640 N 50 50 50 50 *. Correlation is significant at the 0.05 level (2-tailed). In this table above: Association between R_Index and L_Index is 60% which shows a medium relationship. Association between R_Index and Y_Index is 24% which shows weak relationship. Association between R_Index and G_Index is 42% which shows a medium relationship. Association between L_Index and Y_Index is 21% which shows weak relationship. Association between L_Index and G_ndex is 68% which shows relatively significant relationship. Association between Y_Index and G_Index is 6% which shows relatively significant relationship. Descriptive Statistics: (junior) Descriptive Statistics N Minimum Maximum Mean Std. Deviation R_Index 50 2 4 3.16 .584 L_Index 50 2 5 3.55 .689 Y_Index 50 1 5 3.33 .812 G_Index 50 1 5 3.45 .835 Valid N (listwise) 50 Descriptive Statistics: (Senior) Descriptive Statistics N Minimum Maximum Mean Std. Deviation R_Index 50 2 5 3.57 .530 L_Index 50 2 5 3.93 .765 Y_Index 50 2 5 3.43 .664 G_Index 50 2 5 3.87 .596 Valid N (listwise) 50 Chapter V Conclusion and Recommendations: Conclusion: This research was mainly conducted to assess the indication of the involvement of Risk, Yield Spread, Liquidity and Geographical Diversification on Financial Derivatives. The influence of these four independent variables was examined. Data was collected by questionnaires which were given or distributed in the Islamabad Stock Exchange participants. We have used the sample mean test (t-test) to find the major influence of these four Risk, Yield Spread, Liquidity and Geographical Diversification on Financial Derivatives. From this study we can conclude that in case of juniors none of these four factors affects majorly in the determination of financial derivatives. While in the case of seniors not fully but partially all factors are important in the determination of financial derivatives. That means the senior investors just look the factors in determining or doing diversification. In Pakistani market these factors play some role because here the market is manipulated my big investo rs, the market rates or index is influenced by the speculations in the market. So by this we concluded that the seniors do consider these factors the reason for diversification in Pakistani Market. It might be due to their age they are frightened of loss. This means that we should improve our trade relations with our neighboring countries or countries located geographically near to us. Thus, to make our research more purposeful, we have made some recommendations which are as follows. Recommendations: Awareness should be increased amongst the investors regarding the risk factor of each stock. A standard should be developed to identify the risk factor attached with every stock and this information should be made public. Investors should be educated about the calculations of yield spread of every stock. A standard should be developed to identify the liquidity factor attached with every stock and this information should be made public. Investors should be educated about how to decrease risk factor by using various diversification techniques. REFERENCES: Markides, Constantinos C. 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