Life of Pi Essay Example for Free

Life of Pi Es learnThere is a time in each persons life when they feel like the world is coming to an end and no one can help them overcome the problem that there in, but all(a) of a sudden they get a feeling that everything is going to be all right, that somehow theyre going to be able to overcome the crises theyve move into. That spark that lights up there world again, and induces them hope, is belief. Not everyone cheats they assimilate the ability to hang in what is unseen but when they fall into a situation where naught can help them, their human instincts push them into believing that somewhere out there a greater force is going to rescue them. In the twaddle Life of Pi the author Yann Martel takes the readers on a journey to explore the mystery of belief. Pi shows the readers that not everything needs to be seen in order to believe in.Pi is a sixteen year-old boy who has seen nothing of the world, he had nothing more to his life but his family and friend. On that stormy night, cruising on a channel in the middle of the ocean, he lost everything, everything that meant something to him, his family, his friend, his protection, the feeling of safety and delight in, every single thing that could give him a hint of hope had just vanished in a field of study of seconds. He was left with fierce beasts that could tear him to shreds simply.Even though he had no way of being sure that he would be saved, he still pushed himself to believing that somehow he will be able to overcome the crises hed fallen in. He prayed to God hitherto though he had no proof he was there but he believed. He believed because he had no other choice, he needed a miracle. Pi started using every breathing moment to ask for Gods help. THIS IS GODS HAT I would pat my pants and say aloud, THIS IS GODS ATTIRE I would point to Richard Parker and say aloud, THIS IS GODS CAT I would point to the lifeboat and say aloud, THIS IS GODS ARK I would spread my hands wide and say aloud, TH ESE ARE GODS WIDE ACRES I would point at the sky and say aloud, THIS IS GODS EARAnd in this way I would remind myself of creation and of my place in it. (Martel, 263). Pi starts to lose faith but he refuses to give up easily, he pushes his self to unveil this black curtain that is keeping any type of light out and is determined to hold on to his belief so he starts yelling aloud that everything belongs to God so that he reminds himself that God created everything so he is there whether we see him or not. In Pis opinion believing in God is almost like a life opportunity that opens a peosons eyes to the world. He sometimes finds it difficult to have faith in god and feels like he cant take anymore, but in the end he goes choke to believing and loving his lord. Pi says I was giving up. I would have given up if a voice hadnt made itself heard in my heart. The voice said I will not die. I refuse it.I will make it through this nightmare. I will beat the odds, as great as they are. I hav e survived so far miraculously. Now I will turn miracle into routine. The amazing will be seen every day. I will put it all the hard work necessary. Yes, so long as God is with me, I will not die Amen(186). He refuses to give up, even though there is nothing factual which may give him any type of hope he still tries to hold on and have faith in god powers. Pi shows that believing in God has given him strength and hope to get through his situation. It has pushed him to believe that no matter what happens he will be alright because God is with him. So, even though God cant be seen, he is still there and when stuck and in need of help he will be the one to rescue his people.Pi as a young boy doesnt really know what to do in the situation hes in hes scared but tries not to show it, he wants to remain strong. Pi trying to maintain an optimistic point of view continuously forced his belief to grow taking his age into consideration we are able to see that he is pushing himself to be the ma n he has to be in order to get through this problem. He says, Only fear can land life. It is a clever, treacherous adversary, how well I know. It has weakest spot, which it finds with unerring ease. It begins in your mind (178) . Pi as a young man understands that belief and faith is the chance upon to his survival, he determines that in order to survive through his wild and dangerous journey he must throw his fears aside and believe.Love is something very old felt from with in. Not everyone experiences this amazing feeling which makes It very difficult to believe and understand. Pi shows us his strong belief in love through the chase quote I just want to love God (87). Thinking deeply into this simple quote you can see that pi is expressing his true love for God. He shows that he is prepared to love with all of his heart even if he gets nothing in return. Also another quote that shows Pis love in is Hes a shy man. Life has taught him not to show off what is most precious to him (101). This shows that Pi has learned to obscure the things he truly loves in order to keep them safe, to keep them out of sight and unharmed. Considering he lost his family that would be the least he could do.So, its is turn out that not everything needs to be seen in order for one to believe in. A quote from the book that supports is We believe what we see what do you do when youre in the dark? So this shows that not everything needs to be seen in order for people to believe in.

The Members Church of God International and The Community Essay Example for Free

The Members Church of God International and The Community EssayThe Members Church of God International, is iodin of the nigh prominent and well-established religious congregations in the Philippines today. The organization is known to be highly principled and incomparable in upholding Gods accountability, existing for more than 40 years. Believing that one of the most important missions of the members of the Church of God International is to propagate the pure and untarnished Gospel of Christ on earth, the Church has conscientiously and fervently carries this engagement to fellowmen all over the world through the use of mass media and the Internet. As a member of the Church, one is taught to follow religiously and conscientiously the fundamental doctrines for Christians and righteousness as a way of life, and to be law abiding citizens recognizing the fundamental laws of the land they live in. The true essence of a pure religion is manifested in the Church of Gods high-regard and concern for the fatherless, widows, handicapped and disabled people.The Churchs charity and social welfare ministry, Lingap Kapatid was organized and established in 1997 to help the church in its mission to organize and help establish key orphanages in various places to house and care for our less privileged fellowmen who are widowed and abandoned. The historical and watercourse importance of this religion and spirituality in Metro Manila, in particular, manifests in the manner of living of its members. In this community, there are more than 30,000 members who abide not only by Gods law but also by the laws of the country.The members do not smoke, nor become engaged in drug addictions, nor pledge liquors. They are even encouraged not to marry if they are not yet in the proper age and if they are not physically, financially and psychologically stable. This thing leads to helping the community in promoting birth control. Religiosity influences a persons attitudes and values, pr oviding meaning and purpose in life resulting to a healthy and safe community. citationSoriano, Eliseo F. (2002). Leaving Behind the Fundamental Doctrines of Christ. Philippines. The Members of the Church of God in Christ.

Alha Udal Essay Example for Free

Alha Udal Es affirmAlha-Udal(from Bhavishya Purana-Part-2)1Sootjee said-In vaksara village there lived an abhiri misfire named Vratapa. She was fond of doing nava durga vrata in every starting year. She worshipped Chandika Mata for a gift that she asked for herself .She said-Please devi disport with my worship and give me a beautiful boon of salient child worry Valarama and Krishna. Only this I ask from you hey mata swetaishwari.There lived Vasumaan named top executive.He saw the abhiri girl and got pleased with her beautifulness. He married her . He begat with her and produce two sons videlicet Deshraj and Vatsraj . Vatsraj was powerfull and so was Deshraj. Vatsrajs power was equal to 100 elephants.They won Magadhdesam and they command there. There was a Mlechchha king named Satayatta and ruled in Vanaras. His son was strong like bhimasena and forever follows his fathers words . He was tall like Taalvriksha(Paam Tree). Therefore his name is Talana.Under his command the re is 100s of soldier. By wish Talana came to top executive Jaichandra for fri break offship.There came king Jaichandra to Talana but lone(prenominal) brought three soldiers with him to test Talana. 2Soot jee said-In Indraprastha there ruled king Anangapala. To have his own sons he started doing yagya to live up to victor Shiva. thus lord Siva got pleased with him and king Anangapala got two daughters namely Chandrakanti and Keertimalini. Granddaughter Chandrakanti got married with king Devpala of Kanyakubja and sensitiveer daughter Keertimalini got married with Ajmer king Someshwara.Jai Sharma is Anangapalas brother who went to Himalayas to do tapasya by this juncture Anangapala gained concentration to rule his empire. Chandrakanti had two sons Jaichandra and Ratnabhanu. Jaichandra was handsome good warrior and with his brother Ratnabhanu won many appointments and defeated many kings. Jaichandra ruled east side of Kanyakubja and Ratnabhanu ruled northside of kanyakubja.Jaich andra saw in gauda, banga and other landed estates of maru, sins got expanded. There jaichandra went and punished those sinners of their weightage of sins. Agnivamsas lineage was king Gangasimha whose child is Biramati.Ratnabhanu got married with her and as prophecy of Shiva they got a beautiful child named Lakshman. He was strong enough andwas well known for Khhanda yuddha(Strife war).After seven days Ratnabhanu went to swarga and got pitriloka. Kirtimalini got three sons elder was Dhundukar, middle was Krishna Kumar and small was Prithviraj(Mahiraj and also called some times Bhu raj or Bhupati and Mahipati (not the Mahipati of Mahismati )in the purana). Twelve years they pass their childhood days. When their childhood days were over, Anangapala gave his kingdom and went to Himalaya for tapasya. Dhundukara got Mathura kingdom and Krishnakumara got Ajmer kingdom. All kings obey their parents and eer think about their states peoples.There were two Kshatriyas who were Chandravams ins namely Pradyota and Vidyota. Pradyotas son was Parimala and under(a) him was 1 hundred gravitational constant soldiers. Vidyotas son was Bhishma Simha and he was the senani(captain) of elephantry.When Anangapala died Prithviraj got the kingdom of Indraprastha. He loved his kingdom very much. virtuoso day Devi Shakti appeared before him said-Donot conquer the abhiras and extent your kingdom beyond that which may make out a big(a) problem in your life and your control for kingdom. Then Devi disappeared. Jaichandra received two great chandravamsin in his army. By them he do aksahini army. Pradyot, Vidyot and Parimala were mantris of Jaichaichandra and Bhishmashimha got chief of elephantry of King Jaichandra of Kanyakubja. There was a circular shaped kingdom named Mahoba.That kingdoms king was Mahipati.King Mahipati has two sisters Agama and Malana. He was very upset that bowl now his sisters were unmarried.He went with marriage welcome to different kingdoms. At last he gave A gama to Prithviraja and Malana to king Parimala. He became quick-witted . After the end of ceremony Prithviraj demanded a signifier up from king Mahipati. Mahipati thence built a stronghold in Indraprastha. Beyond that fort four caste Brahmana,Kshatriya,Sudras and Vaishyas living billets were also built. That place come to be known as Deholi(Delhi).Prithviraj got control over the village named Deholi. Jaichandra to expand his kingdom took 60 hundred thousand soldier to capture deholi. By that time Prithviraja worshipped Shiv-Shakti for engaging and took soldiers for fight. Seeing great mo of soldiers in front Prithviraj got afraid. He sent message to Mahipati.Getting the message king Mahipati took 20 lakh soldiers and came to the battle ground. Jaichandra comprehend the news and warned king Mahipati. Seeing that cleverish chandravamsin arranged extra 20 lakh soldiers and put 60 lakh soldiers in front.by send of kings the war began. By order of Chandravamsin the armygot divi ded into several parts and attacked deholi soldiers and by this many got injured. Many soldiers of deholi died of unnamed arrows. Seeing that King Mahipati stopped the war. The soldiers of Jaichandra said-Jaichandra is stronger and Prithviraj is fearfull and weaker. Then Jaichandra said -From forthwith Prithvirajs state is under my control. Prithviraja accepted that but in mind he took vow that he bequeath destroy Agnivamsa dynasty. 3Sootjee said-One day Ratnabhanu served Prithviraja. By visual perception the scene every ashes was impressed. Ratnabhanu had a nice necklace which wears by his only wife, the beautiful one Viramati.Prithviraja got awestruck by seeing the necklace.They had son named Lakshana who is stronger.Gangashimhas second daughter named Divyabibhabari got married with jaichandra. There was a woman slave named Surabha. She was a master of Kama. King Jaichandra was attracted to her. They begat themselves and got a daughter named Samyogini. After 20 years she became the eligible one for marriage. For sayamvara, king Jaichandra arranged everything.He welcomed Prithviraja in that Sabha. He made mind that he will give his daughter to lakshmana only. It for insulting he called Prithviraja.He arranged everything for Kanykubja prince Lakshmana.He called his Brahmin general Chandrabhatta and said-For kanyakubja you built a swarna murti(golden statue) for gift and it will be like Prithviraja.By hearing this Chandrabhatta went to worship Maa Bhavani to start his change state quickly.Jaichandra also invited many kings of different kingdoms.Then the sabha started and chandrabhatta had kept the statue in middle of the sabha.Samyogini saw the statue and got inspired the man and he made his mind that she will marry only the man who is like statue.But in the sabha everybodys mouth was fulled with name of lakshana.Then Chandrabhatta said to Jaichandra- It was awesome scene outside in our place please sir do observe it.Jaichandra observed as Chandrabhatta sai d. From Prithviraj there came 1 lakh elephantry and 7 lakh horse men. molar concentration carryers and they are all trained arrow mens.1 lakh foot soldiers in them 1200 mens are with strength . 100s of footsoldiers protecting Prithviraja infront .Hundreds of hundred family member came from Prithviraja in which his wife also was present.King of Kanyakubja Ratnabhanu came there . Dhundukara came with his elephantry.There also came Krishnakumara.They were the doorkeeper seeing that if anybody will do mischief will be sent out of the place.In betwwen200 km the strenghiest army is being placed.In between there was Jaichandra and Prithviraja who were surrounded by 1 lakh elephantry and 7 lakh foot-soldier.There was 8 lakh soldiers protecting the place.Those surrounding soldiers of Prithviraj were Suklavamsin. Everywhere there was standing soldiers for wars. In Ishana direction there were kurmahara who sit and building the vocal musical equipments.There also present Mahipati, Bhishma Shi mha,Parimala and Chandravamsin warriors Pradyot and Vidyot.They were surrounded by foot-soldiers who were ready to do a continue war for cardinal days.There were 10 thousand elephantry and horse were in lakhs. Also present there 5 lakh footsoldiers near them.There present 300 chariots. There present king Ratnabhanu who is protected by 100 elephantry , 3 lakh foot soldiers and 1 lakh horsemen. Thus that place creates an illusion of heaven(Swarga puree) . In one side Sanyogita(Sanyogini also called Samyogini) was thinking of get Prithviraja as her husband.She heared of the name coming around the sabha was lakshana and she saw lakshana was not the person alike the statue.Therefore she became sad and once more and again calling Mahadeva and Mahadeva in mind.MahaDeva got pleased with her and released whitethorna on Prithviraja.Prithviraja got deluded in the maya and looked over Sanyogita and got attracted to her beautifulness. He then arrived towards her and by seeing him she got faint ed.He took up her body and arranged all soldiers of him which he brought into the sabha. He forcefully took the body of Sanyogita and fled to his rustic Deholi with all of his Deholi soldiers. When these news reached to ear of everyone present in the sabha , there started a chaos. Then king Jaichandra kept half of the soldiers in entrance of the state and his house. His soldier chieftain chandravamsin brothers Pradyot and Vidyot reorganize the rest half of the soldiers present in the state.They all say war on Prithviraja and came to Kurukshetra region for the war.Suddenly the war began.Horsemen fought with Horsemen and elephantry fought their opponents elephantry.It started to build a fearful in shape. In the end of the day they lost their strong soldiers.They all feared and with Kings order they stopped the fight and took their individual places to spend the night. In morning with the order of Pradyot , they began the fight with chieftains of Deholi.Vallama(a pointed metal heade d weapon) sounded with opponents Vallama. Dhundukara continuously shot arrow towards Pradyot.The well-known Varuna-astra whenstruck to Pradyot he got witless and fell down.There came Dhundukara and put pradyot to death.In that mament Krishnakumara was doing war with elephantry.By angry mood Krishnakumara shot Surya-ashtra. With that divine arrow many got dead.Vidyot also died from that arrow with his soldiers.Ratnabhanu then came to that pace and started the fight.Then Prithviraja arranging 1000 elepnahtry and went to do war with Lakshana.With Shivas boon King Prithviraja was strong and agry with Bishmasimha and Parimala he shot fearful Rudra-astra to Lakshana.To save Lakshana Ratnabhanu went there and took the arrow in his body and got fainted and fell down.The illusion of Rudra-ashtra had deluded Dhundukara which is seen by his brother Prithviraja. He then to cut off the illusion shot Vaishnava-astra.Therefore by maya-cutter vaishnava-ashtra Ratnabhanu also got his sense.He got u p and fought with Krishnakumara violently.Both were dead under the paws of elephant.Others were died by naga-ashtra(snake creating arrow) and Kharga(rounded shaped big knife).Many paths opened in the fierce full war but the path of winning is still very far. After the end of the day the deadbodies of great warriors were carried off in their resting region region.The soldiers of Kanyakubja when saw teir king was dead they got feared.About five lakh died soldiers wives were present there crying in grief , falling and fainting by seeing their family membersare dead. Kings of both(prenominal) side got fear by the scene .Ratnabhanu and those who were dead were cremated by hidu dharma(were burnt in fire).The army of Jaichandra desire to surrender themselves in the next morning to Prithviraja.When Suryadeva appeared in the morning and its rays fall every-where. Both-sided flags were raised again. Bhishmasimha, Parimala and Lakshmana were in sadness as their fathers were dead.They came ou t and laid association with Dhundukara.There army of Prithviraja sang Prithviraja won and king Jaichandra lost. Therefore Jaichandra and others laid friendship with Deholi king Prithviraj. Jaichandra of kanyakubj and Deholi king started a big ceremony with happiness in mind. 4Sootjee said-In ganga dynasty the first worshipped divinity fudge is Indra. Bhishmasimha also after birth ,started to worship Indra.(Shakra deva).Oneday he started to do strong tapasya of Indra by worshipping Surya deva.He prayed-Please god give me a divya (magical) boon and please with myprayer god Indra.Indra got pleased and gave him a divne female deer(divya harini).Bhishmasimha was very happy with this and every day to satisfy Indradeva praised Indra with his stotra(prayer) and devise on him.One day king Parimala was very sad because his father was dead.He praise the earth and stated to worship Shiva.Shiva to examine him gave him a strong disease named Sarparoga.After five months went the strength of the king Parimala broke down.He knows that if he did pray lord Shiva in mind , many strong diseases will get vanished.Therefore he did not stop praying lord shiva in mind.With his fatal health,king took his own family to Kashi.Under the banyan tree they spend their night.King said in mind -Your name is always in my mind.Hearing this beautiful words lord shiva took form of snake and went there.King to get well praising shiva again and again falling on the floor of kashi temple saying-If you lord did not remove the disease from my body,I will not drink water and take food.Hearing this lord shiva immediately healed the disease.The happiness got filled in his mind and body.Expressing the happiness he said everybody present there what had happened to him and how did he got cured? . Then king Parimala tells to bring oil to tub Shiv linga.Sootjee then said -Who will hear this story will get cured from sins attached to body. Sootjee said-delineation a picture of snake bearing shiva in mind,kin g Parimala started bathing linga of Shiva situated in Kashi temple.The the king did Sashtanga pranayama- mudra to praise lord Shiva.His wife gave Bhoga(a Hindoo belief of giving food to god ,so that god may eat and touch the food and make it a divine one) to Lord Shiva.Then King sarted to praise shiva with this stotra- Thatho jaatam sayam lingam mam gushtavyam sanatanam. Jyoti rupam sarva laksha samanvitam. Nishi thhe tha maththadadha the dikshu suryatvam aagatham. By this for one month of worship king pleased lord Shiva.He painted lord Shiva in mind to please Shiva.Having pleased with king lord Shiva appeared before him and told to ask a boon from him.By hearing this King Parimala said-if you god truly pleased with me then please stay in my house always.Shiva blessed him with the boon and vanished in the linga.Every day king distribute gold to peoples.Having pleasing everybody king with happy mind went to mahavati-puree.Every-body was astonished to see the fully cured king.After t he end of the year he went to the state of kanyakubja to meet king Jaichandra.Seeing king Parimala everybody got happy andover-joyed.Every body is seeing the miraculous king who had cured the fatal disease.Seeing the cured king Raja jaichandra was also overjoyed.He said to Parimala-The peace will not stay for so big in the states and you caused happiness to every of my subjects also me ,hence I assure you of future help when you will be in need. By hearing the pleasant assumption of help from King Jaichandra, King Parimala went to his kingdom.Sootjee continued -To get boon Lakshmana daily worship Lord Vishnu and every day pray by these words-I you were not there ,I may not be alive today.You are the real protector O Vishnu.Please give me a divya (divine) vahana(carriage,in hindu, an animal who used to exact men from one place to another) by which every enemy can be destroyed easily.Then Jagannath dev from his leg created a divine chariot carried by elephant named airavat sent it to lakshman through king.After that with everybody king Parimala went to Mahavati puree.There great Talana the son of king Venarasa was drinking a sweet intoxicating drink made of honey.Mahavatee purees king Mahipati was sitting in his own place.Then Talana went there and said to king - Hey rajan please kind with me and give me what I want.At the end of the month the great Talana repeated the same word,then rajan realized of his want.To please him and to remove sadness from his mind he went to Venaras and gave the kingdom to Talana after consulting to Venras king Satayatta. Mahipati then came to his home and gave a fort to Deshraj and Vatsraj ,the abhiri kings .That fort was situated in between mountains and decorated with flowers ,creepers.The gentle winds blows there making the place lively. The two sons - Vatsraj and Deshraj was like his parents strong and brave. Then Talana the mlechcha king of venaras having declared as Yuvaraj of his kingdom was very happy.He was fond of Raks hashas.Therefore he called the mlechchas of his kingdom to have a great ceremony in mahavati puree for worship of May danava(a famous danava created by Vishnu,does works like Vishwakarman in rakshasha kula and a famous character in Ramayana).To attain that ceremony there came Deshraj and Vatsraj after crossing mountains.Many kings came to attained the ceremony.There present 60,000 warriors surrounding Talana.There present ministers,brothers,and kings who are chandravamsins.Everyone praising the great Talana. 5Sootjee said-There was a king named Jambuka ruled in Mahismati who isfreared of Prithviraj .With prince Kaliya he lived in the place which is situated near Narmada river.He is the friend and general of Prithviraj.King Jambuka does worship of the earth and different dev devis(god and goddesses) .Then he started to do worship of lord Shiva.For want of boon King Jambuka everyday does worship of Lord Shiva. The king said-Hey Mahadev what boon you want you give it to me.Then Lord S hiva appeared before him and said-Hey king you are the topper worshipper of me.Let you and your soldiers be undefeated.The lord Shiva disappeared.The Rajan to show his love towards Lord Shiva ,he went to Maheshwaram teerth with his prince Kaliya and took his soldiers there. Seeing the beauty of the place everybody got wonderstruck and they all praised that place.Rajan said-Everyday we must(prenominal) worship Pritri deva and by saying this he went to ganga for tarpan(an hinduic tribute to pitri deva i.e forefathers) .King said -hey pitri dev please keep my body and soul purified.By doing sradhdhic tarpan rajan praised Mata Ganga with vidhis the king went to his own house.Kaliyas sister name is Vijayasini.Kaliya asked his sister -what should I give you that is beautiful and precious in your eyes. Then his sister said-Give me necklace and precious jewels.Kaliya then went with lakhs of horsemen and did bath in ganga.Then after doing bath in ganga implying all vidhis(rituals) he gave m any danas(gifts) to brahmanas. Afterbathing, Kaliya looks for the necklace, first in Kanyakubja (Kanauj), but learns Kanauj is wealthless.He saw king is strong but the state is filled with dues and there is shortage of wealth. Then he then learns to attack Mahoba as he saw that Mahoba is filled of wealth and jewels.Prince Kaliya then went with 1 lakh Horse men to Mahavatee puree to get necklace and jewels for his siter.There went general Mahisena with king and his soldiers and warned that to give all the wealth they has or fight with them.Mahipati got feared and called Lord Shiva again and again saying either you give welth or please protect me and my soldiers from wrath of king Jambuka.Then Lord Shiva appeared and said to king -Hey king please say the thousand names of Mata Chandika to protect you and your Soldiers.Then king said the thousand names of Mata Chandika and protected him and his soldiers.Then kings send his generals for fight.He took help of Kanyakubj ruler Jaichandra. Another side for not getting their demand Mahisena and his soldiers get ready to fight.Then king Jaichandra came to fight with the soldiers.There came Deshraj with thousand Nagawarriors.There came Vatsraj with 16000 horsemen.At last came the soldiers of big Talana.There started a fierce full war between them.It goes on till night.Jaichandra was about to win the war. Suddenly there entered the friend of Prithviraja, Jambuka with soldiers of mahismati.The soldiers,Kaliya and king Jambuka went everywhere and started fighting.Jambuka went middle of the battlefield with half of the soldiers and put Mahadeva(Lord Shivas) Moha(illusive) arrow in his bow and shot it to the opponent soldiers.The arrow is full of Sidhdha mantra by which the opponent soldiers fell down to ground.Then with sword they started to kill the opponent soldiers. The soldiers of mahismati started to praise their king.Everywhere spread fear.There came Bhisma Shimha with soldiers.With Surya-datta(Surya-astra) arrow he cu t of the maya i.e illusion. Then everybody of his friendly soldiers got up but getting their senses.Then taking sword they cut off the opponents soldiers body. Many fall senseless,other got pressed under the paws of elephant and many got wounded by number of arrows.Then mahismati soldiers accumulated themselves and started fating with opponents.Sword tore and fell to the ground and many got killed and fell to the ground.There came big Talana and stared stomping over his opponent and tearing them apart with sword.He defeated his opponent Kaliya and his soldiers.Many got killed and King jambuka was injured and fall to the ground. With very strength he prayed to sankara(shiva).By that time both sides half of his soldiers are dead.Shiva spread his maya.Then King Jambuka got up and gathered his half of his soldiers and went from the battlefield.Thus king Parimala defeated his opponents.Everybody sang of their win.Seeing they have won the battle Jaichandra was surprised. Talana organized their half of the army. Then Bhishma Shima went to his house. After five months all kings went to house Bhishmasimha. Because his wife ,the daughter of Gurjara(gujrat)king named Ravyadaalasaa gave birth to a divine child .Every king gave number of wealth to Bhisma-simha.By the order of lord shiva the portion of Sahadeva took birth in the house of Bhismashimha.The childs name is Deva-simha, a well-known warrior and knowledge-able person of the future.

Islamic Equity Investment Risk and Return Behaviour

Moslem loveliness Investment Risk and Return BehaviourMuslim charmingness investments deal with the application of Shariah in stock selection in pedigree management. Moslem justice investment is a new and emerging arche lawsuit in fund management and posed a slow growth compared with a fast paced growth in Islamic fixed income Sukuk food tradeplaces and Islamic banking in the current decade. both the same Islamic candor investments contain a significant potential to generate above average risk adjusted counterpunchs than effected equity investment as discussed in this paper. The thesis argues close to the risk drive outs look of Islamic equity investments by analyzing the risk return behavior of Karachi Meezan Index, an Islamic magnate traded at Karachi stock exchange, everyplace the decimal point of two and a half years. Karachi Stock Exchange coulomb list and Karachi Stock Exchange 30 exponent was employ as benchmarks to find step up if there are eithe r significant departures in the returns volatility of KMI30 and KSE nose candy. The fatten up plosive speech sound was alike shared disclose into diddley and flat heads and each achievement is analyse to further augment the research. Our findings provide strong evidence to reject the notion that Shariah submissive investment carry through poorly than conventional equity investments. In fact our finding supported the assumption that Shariah Compliant Equity Investments can deliver better returns than conventional investments given the same level of risk.Chapter 1IntroductionIn the past few years there has been remarkable growth in the field of Islamic finance. New products are being developed on a consistent basis in capital markets which comply with the Shariah. The main distinguishing feature of Shariah Compliant Stocks is their low risk characteristics which has induced m any risk averse investors into investment in Shariah complaint stocks and equity finances. Accor ding to Ernst Youngs 2010 Islamic funds investment report, currently there are approximately $52 billion fund assets under management in the Islamic fund industry which is still a small proportion of the total assets under global fund management which are worth $22 Trillion in 2010. full Shariah compliant assets now exceed $1 trillion worldwide because of the fast faced growth in Islamic finance during the current decade. presently Islamic funds merely constitute about 5.5% of total Islamic finance investments which signifies the potential of growth in this industry in coming years.From July 2007 to no. 2009, MSCI universe Islamic Index out accomplished the MSCI World Index Standard Core in terms of variability of returns which shows that Shariah complaint stocks generate to a greater extent returns in gritty volatility rate of flow compare to conventional stocks.In an Islamic equity fund, the amounts are invested in the shares of Shariah complaint stock companies. The pro fits are in general achieved through the capital gains by purchasing the shares and bewraying them when their prices are increased. Profits are also achieved by the dividends distributed by the relevant companies. It is obvious that if the main melodic line of a company is not lawful in terms of Shariah, it is not allowed for an Islamic Fund to purchase, hold or sell its shares, because it pull up stakes entail the exact involvement of the shareholder in that prohibited business.In September 2008, Karachi Stock Exchange with the collabo dimensionn of Meezan Bank launched a new index called Karachi Meezan Index comprising of 30 companies. The distinguishing characteristic of this index is its Islamic nature in which selected companies will be fully Shariah-complaint. Companies will be selected in the index based on their runniness in the stock market along with compliance with Shariah principles. These Shariah principles are formulated by the Shariah advisory council of Meezan bank which comprises distinguishing Islamic scholars. The purpose of KSE-Meezan Index (KMI) is to serve as a gauge for measuring the mental process of Shariah compliant equity investments. It may also act as a research tool for decisions in strategic asset allocation according to Shariah besides tracking feat of Shariah compliant equities its construction will increase investor trust and enhance their participation.Stock Screening Requirements for KMI-30 IndexShariah compliance of stocks shall be done under the guidance of qualified and reputed Shariah experts. For stocks to be Shariah compliant, it must meet ALL the six key screen outs given below.Business of the Investee Company Core business of the company must be proper and in-line with the dictates of Shariah. Hence, investment in securities of any company dealing in conventional banking, conventional insurance, alcoholic drinks, tobacco, pork production, arms manufacturing, pornography or related un-Islamic activities is not permissible.Debt to Total Assets Debt to Asset ratio should be slight(prenominal) than 40%. Debt, in this case, is classified as any interest bearing debts. Zero coupon bonds and druthers shares are, both, by definition, part of debt.Non-compliant Investments to Total Assets The ratio of non-compliant investments to total assets should be little(prenominal) than 33%. Investment in any non-compliant security shall be included for the computing of this ratio.Non-complaint Income to total revenue Purification of Non-compliant income the ratio of non-compliant income to total revenue should be slight than 5%. Total revenue includes Gross revenue plus any other income earned by the company. This amount is to be cleansed out as charity on a pro rata ratio of dividends issued by the company.Illiquid Assets to Total Assets The ratio of illiquid assets to total assets should be at least 20%. Illiquid asset, here, is defined as any asset that that Shariah permits to be traded at val ue other than the par. pelf Liquid Assets to Share Price The market price per share should be greater than the net liquid assets per share calculated as (Total Assets Illiquid Assets Total Liabilities) divided by number of shares.*Courtesy of Karachi Meezan Index Brochure retrieved from Karachi Stock Exchange WebsiteRationale of the StudyIslamic equity investment funds pose abundant growth potential in the future mainly on account of the following causesIt attracts risk averse investors who previously ignore equity investments because of Islamic Equitys low risk characteristicsIt attracts new Muslim investors who previously were wary of investing in stock markets because of non-Shariah complianceTherefore a study require to be conducted which examines the risk return behavior of Shariah complaint stocks so that investors and general people will have a better idea about the risks profits which are inherent in Shariah complaint shares.Research QuestionsThe study will help in an swering the questions such asIs there a deflection in returns of KMI30 and KSE blow indices?Is there a difference in the volatility of KMI30 and KSE 100 indices?Is KMI30 index giving more or less risk adjusted returns compared to KSE 100 index?How much adaptation is explained by KSE 100 index in returns of KMI30 index?Limitations of the StudyKMI30 index represents the risk return behavior of only 30 blue chip Shariah compliant stocks. In order to have a better comparison with the KSE 100 index, a portfolio consisting of all the stocks from KSE 100 which comply with Islamic viewing principles should be constituted and the return volatility deputes of this portfolio should be compared with KSE 100 index because a difference in returns betwixt both indices can be because of superior judgment in the selection of stocks in KMI30.Chapter 2Literature caravanserai (1998) studied the modern practices in commodity, currency and corporate stock trading in the light of Islamic economic framework and stated that under Islamic principles, Mudarabah or Shirakah certificates can be traded in stock exchanges. However there is no concept of preferred equity in Islamic finance as it Riba which is forbidden under Islam. Khan stated that liability towards losings of the organization need to be met which may have accumulated everyplace a power point in order to sell or disinvest shares of that organization which implied that each shareholder has a liability for cumulative past losses as well as current losses in proportion to the capital invested. Khan (1998) proposed a model of stock valuation which incorporates the Islamic principles that intrinsic value of shares should provide the prospective investor a fair amount of information about past carrying out of organization.Iv = intrinsic value of sharesPv = par value of sharesRi = Profits, Reserves etcL = lossesS = No. of ShareLewis (2010) examined the current and historic structure and performance of Islamic investment funds and entrap out that Islamic investments have grown quickly all over the past few years and now there are approximately 650 Islamic funds operating globally. Lewis also spy that in the past Islamic funds have focused more on negative forbidden exhibit principles instead of focusing on both the negative and appointed viewing methodologies like socially responsible funds that focus primarily more on investments in companies which play a part in human welfare. However these Socially Responsible Investments (SRI) funds performed middling poor compared to Islamic funds because Islamic funds invested a significant portion in energy companies who enjoyed profitableness because of rising oil prices, SRI funds do not invest large portions in fossil fuel energy companies primarily because of their futile side do on environment.Nik Maheran and Masliza (2008) analyzed the performance of Islamic mutual funds at Kuala Lumpur Stock Exchange to investigate if these funds underperform o r over perform the market index using average return on mutual funds, standard deviation of weekly returns, coefficient of magnetic variation, Treynor and Sharpe index. They found out that most of the funds achieved a lower return than market from the flow 2002 until 2006. However in terms of risk level Islamic mutual funds showed less risky behavior compared to the market since the of imports of Islamic mutual funds was less than one.Rennebook, Horst and Zhang (2007) critically reviewed the available literature on socially responsible investments and concluded that a primary reason for low returns from socially responsible funds could be the multi-task nature of portfolio managers who pursue both financial and social objectives. They also found out that if investors avoid investments in unethical/asocial businesses, than they may require a low rate of return than other investors who do not show any similar type of preferences.Hussein (2007) analyzed the returns of FTSE Global Is lamic index and Dow Jones Islamic Index from 1993 till 2004 and compared them with the returns of Dow jones world index and FTSE All world index. He found out that application of Shariah screening doesnt adversely impact on Islamic indices performance as Islamic indices performed as well as their counterparts over the sinless period. Hussein (2007) stated that Islamic indices yield statistically positive returns in blur market period though Islamic indices underperform the all world indices in the bear period and in the long run have a superior performance compared with counterparts in entire market period.Abdullah, Hassan and Mohammad (2007) compared the performance of Islamic and conventional mutual funds in Malaysian capital market with the help of Sharpe index, adjusted Sharpe index, Jensen Alpha, timing and selective ability and found out that Islamic funds are less risky than conventional funds and both Islamic and conventional funds have diversification levels which are le ss than 50 per cent of the diversification level of the market portfolio. They discovered that Islamic funds performed better than conventional funds during bearish periods opus conventional funds performed better than Islamic during optimistic periods and concluded that Islamic funds can be used as hedging tools.Hussein (2005) compared the performance of Dow Jones Islamic market index and FTSE Global Islamic index and benchmarked it against their counterparts, Dow Jones World index and FTSE Global Index respectively, using parametric t-statistic and non-parametric signed rank test. Monthly returns data had been used ranged from 1996 2004 and the periods had been divided into bull and bear return phases to make more misbegotingful conclusions from results. Hussein (2005) found out that Dow Jones Islamic Index outperformed its counterpart in the entire period (1996 2004) and bull period. The cockeyed monthly return of Dow Jones World Index was higher than the DJ Islamic index o ver the entire bull period which indicated that the Islamic index has greater volatility in comparison with DJ world index. Contrary to this, Dow Jones Islamic index fails to maintain its better performance over the bear market phase where the DJ world index gives better returns. In case of FTSE indices, FTSE Global Islamic index outperforms FTSE All world index in the entire and bull periods. However FTSE Islamic index underperforms FTSE world index over bear period. Hussein (2005) also found out that the important of both Islamic indices is greater than one and higher than their counterparts which imply that both Islamic indices are riskier than their counterparts. Hence Hussein (2005) stated that the application of Shariah screening principles has no adverse effect on Islamic indices performance over the years and concluded that Shariah investing offer superior performance compared to unscreened portfolios.Albaity and Ahmad (2008) examined the performance of KLSI, A Shariah Comp liant Index at Bursa Malaysia, and benchmarked it against KLCI which is a conventional stock market index at Bursa Malaysia using measures of risk adjusted returns and found out that KLCI is outperforming KLSI. Albaity and Ahmed (2008) also found out that KLCI has a higher genus Beta as evident from conventional Non-Islamic indices and that in the short run both indices bring in the same direction and tend to cause each other. Hence they concluded that there is no significant difference in the returns and movements of both indices.hakeem and Rashidian (2002) applied Islamic equity screening principles on Wilshire 5000 index and created a Shariah Compliant Portfolio and compared the return characteristics of the created Wilshire Islamic portfolio and Dow Jones Islamic market index portfolio with the heighten Wilshire 5000 index and found out that the reduced diversification characteristic of newly created portfolio has not adversely affected its performance when compared with paren t Wilshire 5000. Hakim and Rashidian (2002) examined the causality in the midst of the Islamic index, the Wilshire 5000 and the Tbill rate and found out that the Islamic index is influenced by factors in hooklike from the broad market or interest rates which are untoward to the widely accepted notion that Dow Jones Islamic Index exhibits high correlativity with broad market. They concluded that such correlation is temporary and falseSauer (1997) measured and analyzed the average monthly returns and variability, Jensen Alpha and Sharpe performance of the Domini 400 Social index portfolio and benchmarked it against the performance of two unrestricted portfolios (SP 500 and CRSP value weighted market indexes). Sauer (1997) discovered that the application of socially responsible strategy in stock selection does not impact the investment performance adversely. He concluded that the potential performance costs of implementing socially responsible criteria, as represented by the perform ance of Domini social index are negligible. Sauer (1997) also stated that the performance of Domini Social equity Mutual fund compares favorably to the performance of Vanguard SP 500 index.Bauer, Koedijik and Otten (2004) analyzed the performance of 103 German, UK and US ethical mutual funds and found no interpretation of substantial difference in return behavior between ethical and conventional mutual fund returns after controlling for factors like book to market and size. Bauer, Koedijik and Otten (2004) also concluded that ethical mutual funds are typically less exposed to market variability compared to conventional funds.Hamilton, Jo and Statman (1993) studied 32 socially responsible mutual funds and compared their returns with a portfolio of 177 conventional mutual funds. They found out that market do not price social responsibility characteristics so investors can expect to lose nothing by investing in socially responsible mutual funds social responsibility factors have no ef fect on expected stock returns or companies cost of capital.Derigs and Marzban (2009) analyzed SP, DJIM, FTSE, MSCI and HSBC Shariah Complaint indices and stated that current Shariah compliant strategies result in much lower portfolio performance than portfolios without considering Shariah Compliance. They suggested that the return from Shariah complaint strategies can be increased by making Shariah compliance an attribute of portfolio constructed rather than measuring compliance on as asset level. Derigs and Marzban (2009) argued, Funds are investment vehicles, which are financially independent of the institutions that establish them. Therefore, a fund takes the form of an independent company, such as a limited liability company (Norman, 2004), in which investors act as shareholders. So they proposed that with respect to compliance a fund which itself invests in multiple companies has to be evaluated in the same way as a conventional independent company.Hassan and Antoniou (2006) e xamined the potential impact of Islamic screening restrictions on investment performance by comparing the performance characteristics of a diversified of Islamic screened stock indices with conventional benchmarks (Data stream Global Index) and the degree of correlation and volatility in price movements between both indices. Hassan and Antoniou (2006) concluded that the impact of stock screens is closely related to the performance of stock markets and further stated that any argument that Islamic equity investments are less profitable than conventional types of investments is questionable which is supported by relatively major differences between Sharpe and Treynor measures and significant positive Alpha over the positive returns period when the Dow Jones Islamic Market Index outperformed the Data stream Global Index.Chapter 3MethodologyThis section emphasizes the research methodology and the type of data that has been used in this research. The research is quantitative in nature a s statistical and financial models are being used to test the STOCK INDEX time series for volatility and return. The data which is going to be used in the research is vicarious in nature and in the form of time series. Daily index values of Karachi Meezan Index (KMI-30), KSE-30 index and KSE-100 index from Karachi stock exchange are being used as import gearary data from December 15, 2008 till March 11, 2011.Daily logarithmic returns of all indices are being calculated such thatWhere is the raw return for index i for the time t, refers to the price of index i at time t, and is the price of index i at time t-1.A descriptive statistical psychoanalysis was performed on the calculated cursory logarithmic returns using to calculate mean, standard deviation, standard error, median, variance, kurtosis, skewness, maximum and marginal values of all three indices for the whole period from December 15, 2008 to march 11, 2011. Also Geometric mean for all three indices was also calculated as it contains the effect of compounding. Coefficient of variation is calculated to measure the variation in each index given its return. A correlation matrix was being calculated using excel spreadsheet to find the degree of correlation between KMI-30, KSE-30 and KSE-100 indices. A linear regression analysis has been performed using the returns of KMI-30 index as dependent variable and returns from KSE-100 as the independent variable to estimate the coefficient of determination (R-Square) and important of KMI-30. Another linear regression was performed using KSE-30 as the dependent variable and KSE-100 as the market independent variable to estimate the beta of KSE-30 and coefficient of determination.The regression equations were as followsWhere is the intercept, is the beta of the stock index, and are the returns on KMI30 and KSE30 indices respectively and is the return on KSE100 regarded as the return on the stock market.Risk ratios which are used in the analysis to compare the r isk reward profile of KMI30 with KSE 30 and KSE 100 are Alpha, genus Beta, Standard Deviation, R-Squared, Sharpe Ratio and Treynor ratio.A paired t-test was performed to check the hypothesis of difference in means of KMI30 and KSE 100 index because nearly all of the stocks of KMI30 are part of KSE 100 hence dependent. Also F-test was performed to check the difference in variances of KMI30 and KSE 100 indices assuming that the returns from both indices are universally distributed.The whole period from December 15, 2008 to March 11, 2011 is than divided into two bull periods and one relatively flat period to find out the risk-return profile of KMI30 and KSE 100 in these periods. The first bull period is from January 15, 2009 till October 15, 2009 spot the flat period is from October 15, 2009 till October 15, 2010. The second bull period is considered from October 15, 2010 to January 15, 2011.A descriptive analysis was again performed on these bull and flat periods along with similar paired t-tests, F-tests, linear regression and correlation matrices. Sharpe ratio, Treynor ratio, Jensen Alpha, Beta and S. Deviation were also calculated for these bull and flat periods.Chapter 4Results AnalysisDescriptive Statistical AnalysisDescriptive analysis shows that KMI30 index showed very soundly periodical mean returns of 0.1014% since Dec 15, 2008 till March 11, 2011. KMI30 index started in September 2008 and considering the mean returns, it is a very good performance by a stock exchange index especially when comparing with geometric mean of KSE 30 returns of 0.0227% and KSE 100 insouciant returns of 0.0451% in the same period. The standard deviation of KMI30 index daily returns was 1.5051% which is considerably less than its counterpart KSE 30 index however more than the S. Deviation of KSE 100 index as expected because of large diversification effects of stock returns in KSE 100. The coefficient of variation for KMI30 index is 15.97 compared to 33.36 for KSE 100 a nd 74.593 for KSE 30 which clearly indicates that KMI30 is less risky when compared to both other indices per unit of return. The excess kurtosis for KMI30 for the complete period is 2.58 compared to 2.13 for KSE 100 and 2.29 for KSE 30 which shows that all three indices are more peaked than normal distribution and are leptokurtic. All three indices are negatively skewed which shows that most of the returns are negative.As indicated by higher standard deviations of KSE 30 index, its maximum and minimum return are greater than KMI30 maximum and minimum returns. The maximum one day return for KMI30 during the whole period was 5.3% while the minimum return was -5.19%.From January 15, 2009 to October 15, 2009, KSE showed a bullish trend. The geometric mean of KMI30 index daily returns during this first bullish period was around 0.31% much higher than 0.24% of KSE 100 and 0.28% of KSE 30. However the standard deviation of KMI30 index is 1.93% less than 1.88% of KSE 100 and 2.35% for KSE 30. This shows that not only KMI30 beat KSE 100 and KSE 30 in returns but also remained less volatile over the bullish period when compared to KSE 100 and KSE 30. The kurtosis of all three indices is slightly over 3 (Excel displays Excess Kurtosis) which shows that all three indices are mesokurtic and have a kurtosis equal to that of normal distribution. KMI30 showed a slight negative skewness of -0.0195, while KSE 100 showed positive skewness of 0.04058 in this bullish period.From October 15, 2009 to October 15, 2010, KSE showed a relatively flat period of returns with KMI30 index screening a mean geometric return of 0.0498% while KSE 100 and KSE 30 showed a geometric return of 0.017% and 0.0249% respectively. The KMI30 again outperformed KSE 100 and KSE 30 in returns over this flat period. KSE 30 had negative mean returns in this period. KMI30 also showed low standard deviation of 1.088% compared to 1.1049% of KSE 100 and 1.3866% of KSE 30. Hence KMI30 again outperformed KSE 30 a nd KSE 100 index in this relatively flat period in terms of returns and low volatility. KMI30 had an excess kurtosis of 2.18 more than 1.79 for KSE 100 but less than 2.26 of KSE 30. Hence all three indices have leptokurtic distribution with high peaks than normal distribution. KMI30, KSE 100 and KSE 30 all showed negative skewness in this flat period.From October 15, 2010 till January 15, 2011, KSE showed a relatively bullish trend with KMI30 showing a daily return geometric mean of 0.36% against 0.3% by KSE 100 and 0.33% by KSE 30 index. However KMI30 index showed a higher daily standard deviation of 0.86% compared to 0.73% of KSE 100. KMI30 also showed a more leptokurtic distribution compared to KSE 100 as the excess kurtosis of KMI30 was around 0.497 compared to 0.262 for KSE 100. During this bullish period all three indices showed a positive skewness with moving returns in a short span of time.Over the whole period, from December 15, 2008 to march 11, 2011, KMI30 showed impress ive annualized returns of 28.825% compared with KSE 100 and KSE 30 which showed annualized returns of 11.9367% and 5.85% respectively. The annualized standard deviation for KMI30 index was a little higher than KSE 100 but lower than that of KSE 30. Also the total return over this two and a half year period by KMI30 was quite impressive and 2.5 times more of KSE 100. KMI30 had a total return of 75.11% from Dec 15, 2008 to March 11, 2011. Sharpe ratio is only positive for the KMI30 because the other two indices had returns less than 12 month Treasury bill rate. Jensens alpha for KMI30 was 16.8687 which indicated the average return on KMI30 over and above the CAPM predicted return of 11.9566%. KMI30 also had a beta lower than one which shows that KMI30 is less volatile than the overall market. KSE 30 had a beta of greater than one showing that its more volatile than the market KSE 100 index.Correlation matrix shows a strong correlation of 92.933% of KMI30 and KSE 100 over the whole per iod from December 15, 2008 to March 11, 2011. KSE 30 showed a less strong correlation of 87.48% in the same period with KSE 100. In the first bullish period, KMI30 however had a rather less strong correlation with KSE 100 compared to the whole period correlation described above. In the flat period from Oct 15, 2009 till Oct 15, 2010, KMI30 had a very strong correlation with KSE 100 index. In second bullish period, from Oct 15, 2010 to Jan 15, 2011, KMI30 again had a relatively less strong correlation with KSE 100 as already happened in first bullish period. It looks like KMI30 is showing less strong correlation with KSE 100 in bull markets and very strong correlation with KSE 100 in relatively flat periods which shows that KMI30 shows returns which are less correlated with market in bull periods and give more correlated returns in flat market periods.In both bull periods, Jan 15, 2009 Oct 15, 2009 and Oct 15, 2010 January 15, 2011, KMI30 outperformed KSE 100 and KSE 30 index with impressive margins. KMI30 gave a total return of 81.68% in the first bull period, 13.24% in the flat period and 23.67% in the second bull period. KSE 100 gave total returns of 57.3%, 4.34% and 19.92% in the same periods. KMI30 also showed a relatively same standard deviation as the KSE 100 except for the second bull period when there was a large difference in S. Deviation of KMI30 and KSE 100 returns. What this means is that KMI30 is giving higher returns than KSE 100 while having the same risk as KSE 100 also evident by Sharpe ratio. In first bull period, KMI30 had a beta of 0.927 compare to 1.077 of KSE 30. In the flat period, KMI30 had a beta of 0.948 while KSE 30 had a beta of 1.06. In the second bull period, KMI30 and KSE 30 showed an irregular trend when the beta for KMI30 increased over 1 while beta for KSE 30 dropped less than one.Regression AnalysisA regression analysis was performed on the daily returns of KMI30, KSE 30 and KSE 100 for the complete period to explain the va riation in the returns of KMI30 and KSE 30 index by using KSE 100 as the independent market index. The regression equations are as follows compare 1 Equation 2The R-Square for the first model of KMI30 returns come out to be 86.366% which tells us that 86% of the variation in KMI30 index is caused by KSE 100 index. The R-square for the second KSE 30 model was 77% which shows that KSE 100 causes more variation in returns of KMI30 than KSE 30 index. The intercept of first equation is 0.000523179 which shows that when the daily market return is zero, than KMI30 has a daily return of 0.0523179%. The slope of the first equation, beta of KMI30 index, tells us that a one role change return in KSE 100 index causes a 0.9752 percentage change return in KMI30 index which shows low volatility in KMI30 compared to KSE 100. The slope and intercept for the KSE 30 model are 1.1018 and -0.0216% respectively which indicates that KSE 30 is more volatile than KSE 100 (has a beta higher than 1) and tha t a zero return from market will causes a -0.0216% daily return fall in KSE 30 index.Hypothesis testingThe first hypothesis was to test that whether there are any significant differences in daily returns of KMI30 and KSE 100 indices for the whole period from December 15, 2008 to March 11, 2011. Since all the stocks which are part of KMI30 index are also a part of KSE 100 index which indicates that both samples are dependent hence paired t-test was employed to test the differences between returns of both indices. The null and utility(a) hypotheses are given asHo The difference in mean daily returns of KMI30 and KSE 100 index for the period from December 15, 2008 to March 11, 2011 is equal to zeroH1 The difference in mean daily returns of KMI30 and KSE 100 index for the period from December 15, 2008 to March 11, 2011 is not equal to zeroThe paired t test was performed on a 5% level of significance with 552 degrees of freedom. The calculated t statistic was 2.310548072 which was great er than the critical value of 1.96. Hence the null hypothesis was rejected and the conclusion was that the difference in mean daily returns of KMI30 and KSE 100 returns is different from zero.The second hypothesis tested whether there are any significant statistical differences in returns of KMI30 and KSE 100 indices during the first bullish period from January 15, 2009 to October 15, 2009. The same paired t test was employed to test the difference in returns in this bullish period using a significance level of 5%. The null and alternative hypotheses are given asHo the difference in mean daily returns of KMI30 and KSE 100 index for the bullish period from January 15, 2009 to October 15, 2009 is equal to zeroH1 the difference in mean daily returns of KMI30 and KSE 100 index for the bullish period from January 15, 2009 to October 15, 2009 is not equal to zeroThe calculated t-statistic was 1.2773207 less than the critical value of 1.972 at 5% level of significance with 187 degrees of f reedom. Hence the null hypothesis was failed to reject and it was concluded that there is no difference in the returns of KMI30 and KSE 100 indices during the first bullish period from January 15, 2009 to October 15, 2009.

Advantages And Disadvantages of HRIS in Human Resource Management

Advantages And Disadvantages of HRIS in Human alternative ManagementHuman Resources randomness Systems (HRIS) pee evolved since the 1980s from relatively simple estimator applications to virtual vaults of forward-looking clement imaginations nurture and processes.HRIS also is the name of the human preferences discipline for HRIS specialists and other human resources professionals involved in the technology for use of goods and services and personnel matters.An HRIS is used for employment actions such as appli hobot fall into placeing, performance dish outment, attendance, compensation and benefits management, work force analyses, and scheduling.A very popular use of HRIS is employee self-service. Many employers are utilizing their HRIS to supplement the human resources department staff by enabling employees for find answers to common questions they would have asked a human resources representative.An employee self-service component can be used in a small business setting b ecause it can be configured to accommodate work places with a dozen employees to companies with 10,000 employees.IntroductionHuman Resources Information System, is a system that lets you keep track of all your employees and randomness about them. It is usually done in a database or, more often, in a series of inter-related databases.These systems admit the employee name and contact information and all or any(prenominal) of the followingdepartmentjob titlegradesalarysalary history prospect historysupervisortraining completedspecial qualificationsethnicitydate of birthdisabilitiesveterans statusvisa statusbenefits selectedAny HRIS include report capabilities. Some systems track applicants before they become employees and some are interfaced to payroll or other financial systems.An HRIS is a management system designed specifically to provide managers with information to make HR decisionsThis is not an HR systemit is a management system and is used specifically to support management decision making .The need for this bod of information has increased in the last few years, especially in largish and/or diverse companies, where decision making has been moved to lower levelsAnd large companies generally have the advantage when it comes to HRISsthe cost to develop an HRIS for 200 people is usually close to that for 2000 peopleso it is a go investment for large companieslarger companies tend to have systems that have a fair degree of customizationTherefore, HRIS can be defined in simple words as given belowHuman Resource Management Systems (HRMS, EHRMS), Human Resource Information Systems (HRIS), HR Technology or also called HR modules, shape an intersection in between human resource management (HRM) and information technology.It merges HRM as a discipline and in particular its basic HR activities and processes with the information technology field, whereas the planning and programming of dataprocessing systems evolved into standardised routines and packages of go-ahead resource planning (ERP) software.On the whole, these ERP systems have their origin on software that integrates information from different applications into one universal database. The linkage of its financial and human resource modules through one database is the most important distinction to the individually and proprietary developed predecessors, which makes this software application both rigid and flexible.HRIS AdvantagesSpecialist can manage compliance with federal and state lawsstreamline processes for recruitment and selection produceanalyses data and reports for internal and external useease of use for qualification computer technology specialists,accuracy of informationability to perform HR audits using any combination of parametersEmployees and managers can locate answers and information quickly without the need to deliberate an HR representative every time.An HRIS can reduce the amount of paperwork and manual record keepingIt retrieves information quickly and ac curatelyIt allows quick analysis of HR issuesHRIS Disadvantageshuman error during information inputcostly technology to update your systemmalfunctions or insufficient applications to support your human resources needsfinding a qualified specialist with human resources functional area knowledge is difficult.Unauthorized AccessSpecialized KnowledgeData Entry ErrorsThe cost per-hire for another employee in a specialized field may be a stretch for some small businessesNew TechnologyWith the changing world and constant naked technology that is available, managers need to be aware of the technology that will increase effectiveness in their company.Human resource information systems (HRIS) have increasingly modify since it was first introduced at General Electric in the 1950s.HRIS has gone from a basic process to convert manual information keeping systems into computerized systems, to the HR Information Systems that are used today.Human resource professionals began to see the possibil ity of new applications for the computer.The idea was to integrate many of the different human resource functions.The result was the tertiary generation of the computerized HRIS, a feature-rich, broad-based, self-contained HRIS.Many companies have seen a need to transform the way Human Resource operations are performed in roam to keep up with new technology and increasing numbers of employees.Terasen Pipelinesmoved its headquarters from Vancouver to Calgary to be closer to the oil and realized a major produce in employees.In the past recording keeping was done on paper and with spreadsheets.Mangers at Terasen realized that there was a need to change to a more computerized system and looked into different HRIS vendors.By making the move to a HRIS system, Terasen is able to keep more accurate records as well as better prepare for future growth.WORKSource Inc.To meet the challenge of handling 100 new employees, WORKSource Inc. acquired Web-based technology programs from GHG Corp. li ke electronic pay stub, electronic timesheet software, time-off system, and human resource information system (Tips, 2006).By adapting these new programs, WORKSource was able to reduce waste and cost.PerformanceHRIS systems may track performance reviews and performance issues as part of its management of employee information. Higher-grade systems may also conduct mathematical functions related to this data in order to rate employees based on performance abilities. This information can then be used to make business decisions such as whether to offer an employee a promotion or a boost in pay.Employee InformationAll HRIS software maintains a database of information on employees past and present, including such data as pay rates, department, raises and personal information.PayrollMost HRIS software does at least some basic form of payroll processing. Payroll begins with tracking the time spent on certain activities, usually as reported by the employee him or herself. This reporting is u sually done through some sort of software or web application, though some people track work time on hard copy forms that then have to be scanned or transcribed into the computer system. Payroll systems will also conduct necessary accounting and may even print the actual paychecks.Benefits AdministrationHRIS systems that conduct payroll operations also usually manage benefits information, such as medical coverage and privacy accounts. These tie in closely with payroll but are also tracked alongside other employee information such as salary and paying(a) time off.Work TimeHRIS systems generally include the capability of tracking employee work-time, especially where employees are paid hourly or are on contract.Types of software systemHRIS systems come in a variety of software configurations. Some systems are hard-coded for local installation on a computer or network at the business location. Other systems conduct business online as a Software as a Service (SaaS) system, usually over the Internet via web sites or Intranet systems. Finally, some application vendors may provide service as a blend of these types of software.Modular SystemsDifferent software packages have different capabilities, and some vendors may offer different tiers of service. Basic services are generally provided as part of a package with additional functions being available as modules that can be plugged into the basic package of software

Animal-Assisted Therapy (AAT) Essay -- Animal-Assisted Therapy Essays

For many humans, a pet provides unconditional love and affection. Others feel an overwhelming calming, happy feeling when they are around animals. According to The American Veterinary Medical Association, studies have shewn that due to these positive emotions that are stirred, the presence of and interaction with animals can lower heart rank and blood pressure. Animals that meet specific training criteria can become an integral part of a treatment process for a variety of psychological and physiological problems. Animal-Assisted Therapy (AAT), which can be provided in a group or individual settings, is designed to promote improvement in a humans physical, social, emotional, or cognitive function. An article by Chitic, Rusu, and Szamoskozi (2012) provides an analysis in order to determine the value of AAT. Both dogs and horses that were trained for AAT were examined and studied to determine their effectiveness in treating patients with psychological disorders. The res ults showed that both therapy dogs and horses were valuable aids to the therapeutic process. The analysis suggests that proper training and repeated sessions were necessary for proper treatment of patients. In addition, certain disorders may arrive at more than others in regards to AAT. For example, a child with ADHD may not benefit from a therapy dogs presence, for it may worsen the hyperactive symptoms. On the other hand, a patient with depression may benefit greatly from the same animal (Chitic, Rusu, Szamoskozi, 2012). These findings are a perfect starting point to tell the research question Do patients who engage in AAT display a betterment in their overall emotional well-being, as well as show improvement in their interpersonal interactions... ...dren with Pervasive Developmental Disorders. Western Journal of Nursing Research 24.6 (2002) 657-70. Print.Motomura, Naoyasu, Takayoshi Yagi, and Hitomi Ohyama. Animal Assisted Therapy for People with Dementia. Psychogeriatrics 4.2 (2004) 40-42. Print.Tyberg, Amy, and William H. Frishman. Chapter 6 - Animal-Assisted Therapy.Complementary and integrative Medicine in Pain Management. By Michael I. Weintraub, Ravinder Mamtani, and Marc S. Micozzi. New York Springer Pub., 2008. 115-24. Print.OConner-Von, Susan. Chapter 14 - Animal-Assisted Therapy.Complementary & Alternative Therapies in Nursing. New York Springer, 2010. 207-23. Print.Zilcha-Mano, Sigal, Mario Mikulincer, and Phillip R. Shaver. Pet in the Therapy live An Attachment Perspective on Animal-Assisted Therapy. Attachment & Human Development 13.6 (2011) 541-61. Print.

Essay --

To be born a female or a male in any society is more than an unpretentious biologic position since it is not without social implications. Women establish a discrete social group, as gender dominates it by means of culture redevelops to what instigates as a fact of nature. The idea that natural differences between the sexes are the basis/spring of all that fashions women and man to be distinct has also been profoundly driven in in various scientific debates. The absolute inconsistency of the roles and relations of women and men across diverse societies and social groups depicts/portrays itself as one of the primary evidence against this unsophisticated biologically determinist interpretation. If there is no steadiness between how different societies believe/presume men to be men and women to be women-- this longstanding saying has been confronted with perpetually accumulating frequency as social researchers emphasis on the nature of the social construction of gender, then what can be announced is that there must be something other than natural differences that lie beneath their character along...