Promoting Good Health Primary Care

Promoting Good Health Primary Care Health professionals, particularly those working in primary care, have an important part to play in promoting good health. Therefore it is the intention of this essay to explain the theoretical base that underpins the nurses health promotion practice. Reference will be made specifically to promoting good nutritional intake and healthy lives for children. The essay will identify how evidence-based research concerning the subject of health promotion can be used to inform the practice of the nurse. The essay will highlight the priority given to the promotion of healthy eating by use of examining current government guidelines and healthcare strategies. This part of the essay will examine potential definitions of health. Health is not just about physical health but also about mental and social well-being. It may be most effective when meeting basic needs, accessing relevant information and relying on family or community support (Bury 2005). The World Health Organisation (WHO) defines health promotion as the process of enabling people to increase control over, and to improve their health (WHO 1998). The growth of interest and activity in health promotion over recent years must also attempt to develop some methods of prevention to ill-health (Downie et al. 2000). Factors surrounding the nutritional health of children has many elements; some of which include their genetic make-up, environmental influences and the stage of development of the child (Holden and MacDonald 2000). Eriksons (1968) established the psychosocial theory of development which took into consideration the effect of external aspects, parents and society on personality development from childhood to adulthood (Erikson 1968). According to Eriksons (1968) theory every person must pass through a series of eight inter-related stages of their life cycle. Stage number four is school-age child where children are learning and developing new skills and it is also a very social stage of development (Erikson 1968). Social issues will be discussed in more depth later in this essay. According to the Scottish Government nurses and midwives play a dynamic and vital role in improving health and delivering health services to the people of Scotland (Scottish Government 2001). Therefore in terms of promoting the health of children through healthy nutrition, nurses are encouraged to educate children through visits to schools, attending youth groups, giving advice to new parents and offering advice at clinics and so on. The school nurse works in cooperation with the school to produce an environment that promotes healthy living as well as looking after the needs of individual children (School Nurse 2010). Health education is important for preparing the social, practical and emotional knowledge of children and providing them with social skills. It also helps to protect and promote the health of children through an environment and culture which is safe, healthy and beneficial to learning (Department of Health 2004). Holden and MacDonald (2000) identified that nutritional e ducation is essential to enable children to make informed choices about food and understand the relationship between diet and health. Nurses are often available to give advice and guidance on good diet and nutrition and regularly give health talks at school assemblies. The next part of the essay will look at some of the legislation surrounding health promotion for children. School meals in Scotland have undergone a transformation over the past few years due to the Hungry for Success Initiative which introduced nutritional guidelines for school lunches (Fife Council 2010). The Schools Health Promotion and Nutrition Scotland Act (2007) encourages the Hungry for Success programme and requires all local authorities to ensure that food and drink provided in schools comply with the nutritional requirements specified in the regulations. This act places health promotion at the centre of school activities. It encourages local authorities to provide school pupils with healthy drinks and snacks either free of charge or at a reduced cost. It also requires local authorities to promote school meals and to also reduce the stigma attached for pupils having free school meals. Another project that was initiated was the Hygiene, Healthy Eating and Activity in Primary Schools Initiative (HHEAPS) (Food Standards Agency 2009). This was devised for schools to raise childrens awareness of food hygiene, healthy eating and physical activity and the main concept was to link the three together, providing children with a basic understanding of how colds and flu viruses spread, how they can feel mentally and physically better about themselves, as well as enjoy fun activities with their peers. The importance of health promotion in schools is a key part of the role of the school nurse and often concentrates on exercise and healthy eating which can include fighting obesity and perhaps even eating disorders (School Nurse 2010). The Scottish Government (in partnership with Learning Teaching Scotland and NHS Health Scotland), have produced a leaflet called Healthy at Schools: Healthy for Life which acts as a guide for parents to explain why schools are promoting health (Scottish Government 2009), so as to keep parents involved. Pupils are giving the opportunity to take part in a physical activity or sport and they learn about health in many different subjects. The social, mental, emotional and physical health of school pupils are the responsibility of all teaching and non-teaching staff in schools. Good nutrition has a positive influence on child development and any health promotion involvement that focus on children and young people can be the basis for a healthy lifestyle that may be continued into adulthood (Licence 2004). Therefore the priority of health promotion and nutrition education is directed mainly at changing diet and lifestyles, with the aim of reducing chronic diseases (Webb 2002). According to The Scottish Government (2008), 20% of primary one school children are classed as overweight, some even categorised as being obese. Childhood obesity can lead to childhood diabetes, early puberty in girls and can lead to some types of cancers and heart disease later in life (Kozier 2008). It is therefore vital to begin health promotion in children as early as possible, to allow them to make their own choices about their health as they become older. Having examined some of the policies surrounding health promotion, it is now appropriate to examine the role of the nurse as a health promoter in greater depth. The nurses role in health promotion and health education involves taking into account all of the processes involved from assessing, planning, implementing and evaluating, as these are all essential elements of a health promotion programme (Whitehead 2002). According to Kemm and Close (1995), health promotion is an activity that intends to prevent disease or promote health. One of the key aspects of health promotion is attitude and to suggest ways to change attitude and its associated behaviour is of the main objectives in health promotion (Downie et al. 2000). It is vital to adopt the most important approach to health promotion and Ewles and Simnett (2005) suggest five approaches to health promotion: medical, behavioural change, educational, empowerment and social change. In terms of health promotion for children the educatio nal approach and the behavioural change can be linked together as school education programmes can help pupils to learn the skills of healthy living thus aiming to change their attitudes and behaviour with the hope of them adopting a healthier lifestyle (Ewles and Simnett 2005). To provide structure for health promotion, several health promotion models have been developed. One of the better known and most popular one is Tannahills model of health promotion (1995) which describes health promotion as three interlinked circles that include health education, health prevention and health protection. As the circles overlap they form the seven components of health, and number five on the list positive health education is aimed at changing behaviour and encouraging beneficial use of leisure time as in exercise and fitness (Downie et al. 2000). Changing behaviour could be done by either educating parents in positive health or by showing the consequences of poor health. Health education is described as an activity aimed at informing people about the prevention of disease, and according to Naidoo and Wills (2000) health prevention can be divided into three categories. Primary prevention is aimed at prevention of the start of the disease, secondary is aimed at prevent ing the development of the disease and tertiary is aimed to reduce any further suffering for those who are already ill (Naidoo and Wills 2000). The Ottawa Charter for Health Promotion (WHO 1986) outlines the key principles for health promotion which include strengthening individuals personal skills and capacities, empowerment and because society is forever changing, be able to create a healthy working and living environment. Dahlgren and Whitehead (1991) established the Determinants of Health model which explained how health is shaped by a variety of factors either positively or negatively. Economic, social and environmental conditions can determine the health of people and populations and also included in this model are the essential changes in the circumstances of daily life. Such factors can decide whether or not a person is in the right position, either physically, socially or personally to meet their requirements, succeed and be able to cope with changes in their situations (Local Government 2010). In terms of social issues, it is vital to highlight that promoting good health amongst children is virtually impossible unless parents are also targeted. Since parents and carers make most decisions regarding what a child eats, perhaps whether they can go out to play and whether they can join organised sporting activities, it is important that parents also have appropriate information on how to keep their child healthy (NHS Scotland 2010). Healthy families are better equipped to deal with challenges such as illness as they have developed effective coping strategies. Midwives can begin the process by giving targeted information to expectant parents on initiatives such as breast feeding, childhood immunisations and different activities to nurture happy, healthy babies. Some of these activities may include toddler swimming lessons or attending baby rhyme time classes (Netmums East of Scotland 2010). Nurses could then reinforce this by providing further information and advice during clin ics, nursery classes and through school-based drop-in advice services (Advice Guide 2010). Nurses can use their role as a liaison between health and education by working in partnership with members of the teaching profession to promote good health to young children. This might be by providing training for school-based staff to support children with healthcare needs such as asthma or diabetes or working with physical education teachers to encourage all children to take part in sports and other activities (The Scottish Government 2003). It is important that nurses show children why good nutritional intake is so important, by focusing on how it will not only prevent future illnesses, but it will help them to feel better and be more alert and active. It is also important to include how environmental issues such as poor housing, poor income and low levels of education can all affect the health of children (The Scottish Government 2003). Children can only follow through by choosing the healthy options they have been taught if they understand the importance of why they should cho ose a healthy diet (Frey and Barrett 2006). Fast food chains can also target children, and although many of them offer healthy choices, it is vital that children and parents understand the consequences of always choosing the unhealthy options, such as fatty foods potentially leading to heart disease, or sugary drinks leading to tooth decay (Food Standards Agency 2005). It might be possible to use educational aids such as pictures and videos to highlight to slightly older children and their parents of what could happen if they continually choose unhealthy foods (Brown and Ogden 2004). Nurses who work with children and young people also have an important role in identifying children who may be at risk of malnutrition. It is important for nurses to be able to recognise health problems that may be related to poor nutrition, for example, tiredness, slow growth, delayed puberty, pale skin and poor hair condition. The Royal College of Nursing (2006) suggests that basic screening of a childs nutritional status contributes significantly to identifying children at risk (RCN 2003). The Scottish Intercollegiate Guidelines Network (SIGN) have specific guidelines developed on evidence based clinical practice for the National Health Service (NHS) and they suggest that children whose families live in a deprived area should be considered as an increased risk of developing tooth decay (SIGN 2005). Parents and carers should receive oral hygiene education from the local dental team and health professionals should ensure that oral health messages are relevant and applicable to lifest yles and communities (SIGN 2005). Nurses need to take into account the social world of their patients and to understand their social situations. Factors within the social and maternal environment can influence health and development (Bromley and Cunningham-Burley 2010). The nurses role is to recognise the relationship between social issues and health and to be aware of cultural differences with regards to nutrition (Food Standards Agency 2002). According to Save the Children Scotland (2009) 240,000 children in Scotland live in poverty; that is one in four young people in families that struggle to get by every day. Families on low incomes find it hard to provide the basic necessities like decent, healthy food so therefore poverty affects the way that people eat (Save the Children Scotland 2009). Circumstances and the environment determine whether families are healthy or not. Genetics, relationships, education levels and income all have a huge impact on health (Anon. 2010). The nurses role in health promotion also incl udes health psychology which is the understanding of psychological influences on how people stay healthy. Health care professionals deal with problems identified by behaviours, attitudes, diet, exercise and so on (Ogden 2003). Some socially excluded families may not have the communication skills to identify and utilise what is available in terms of health promotion and disadvantaged families may have difficulty in taking up healthy options. Parents perceptions of healthy eating and exercising need to change and parents need to be more aware of the outcomes of an unhealthy diet. Children follow in their parents footsteps and do what they are brought up to think is correct. According to Nursing and Midwifery Council (2008), nurses are bound by and must adhere to the NMC Code of Conduct which states that it is the nurses duty to care for their patients and they must try and do what they think is best for them (NMC 2008). Nurses need to make people more aware of their role in promoting health and well-being of children and young people. Nurses need to work together with other health professionals including social care and local councils to change families attitudes and behaviours (Moyse 2009). Overall families are resilient and resourceful but they may need extra support and outside help to adapt successfully. Families cannot be forced to change but nurses can give them enough information and offer support to help them to change. Families need to believe that they can change and that changes will be good for them and that they will benefit from changing their lifestyles. Nurses need to influence the health of communities and problem areas. The Scottish Go vernment published a paper which provided a framework to support a programme which could help to deliver a policy for health improvement (The Scottish Government 2003). The main objectives in this paper for health improvement are that by 2010 -2012 life expectancy for people living in all areas of Scotland should be improved and it is also expected that inequalities between the most deprived and most comfortable groups should be reduced (Scottish Government 2003). In conclusion, this essay has examined some of the issues surrounding health promotion in children, focusing specifically on nutritional intake. It has firstly explained the knowledge base that underpins the nurses health promotion practice. The essay has looked at some of the legislation and government policies surrounding health promotion, and then also looked at the role of the nurse as a health promoter, and how a nurse must take into account social and educational issues when attempting to implement any health promotion initiative. The essay looked at a health promotion model and one component of this was discussed in more detail. Having examined current government guidelines and healthcare strategies, the essay then looked at guidelines that were developed on evidence based clinical research. Nurses should try to encourage people to take responsibility for their health and to make them more aware of the long term affects an unhealthy diet can have on younger children. Bad nutri tion affects skin, hair, nails and teeth. The essay has also discussed factors within the social and maternal environment which can influence health and development. It has also looked at why nurses must work together effectively with other health professionals to change family attitudes and behaviours. This essay has also discussed why people struggle to change, the effect of social class and health inequalities. Throughout completion of this essay it has become apparent that health promotion of children and young people is a vital part of the role of the nurse and the nurse can influence health improvement through health promotion. 2852 words

The Thesis And Statement Of The Problem Finance Essay

The Thesis And Statement Of The Problem Finance Essay INTRODUCTION OF THE THESIS STATEMENT OF THE PROBLEM Introduction: This thesis consists of a collection of self-contained research papers within the part of credit risk and securitization. Still if they differ in focus and faculty, they have in universal that I have designed at writing thesis which has important in real-world with a helpful and relevant participation in my thesis of credit risk and securitization. These contributions are either participation to strategy discussions, new opinions and new angles to a continuing debate, accepted practices with the help of study or cleanly development of fresh models. My thesis will be helpful for those companies which really face credit risk and do not have any model to control it. In the beginning of the writing thesis I faced a lot of problems in managing of data, but with the passage of time activities of research provided great knowledge about credit risk and securitization. This thesis will be helpful for me in future time, and it has a great importance for financial organizations. I was thinking, on basis of research on this topic, it is helpful for my job in these good organizations. I can give better performance on this job because it is my favorite area and I am specialist in it. A brief zoology of risks I view the risks faced by financial organizations as falling mainly into the following maximum collections: Market risk-the risk of sudden changes in prices or rates. Credit risk-the risk of changes in value related with sudden changes in credit quality. Liquidity risk-the risk that the costs of adjusting financial positions will boost significantly or that a firm will lose access to financing. Operational risk-the risk of fraud, systems failures, trading errors, and many other inside managerial risks. Systemic risk-the risk of stop working in open market or series of result default. Definitions of Credit risk Credit risk is a possibility that counterparty cannot perform the fixed obligation, including a possibility that the counterpartys credit risk will be reduced, which affect earnings and capital may support of financial organizations. Credit risk is very important as it involve credit department, which is a most important operation of financial organizations, both credits that are assets and contingent liabilities of the financial organizations. Credit risk is the risk of loss due to a counterparty defaulting on contract, or furthers normally the risk of loss suitable to some credit event. By tradition this applied to bonds where debt holders were worried that the counterparty to whom theyve made a loan might fail to pay on a payment (interest or original amount). Credit risk start from the possible that an obligor is either unwilling to achieve on a commitment or its capability to achieve such obligation is damaged resulting in financial loss to the bank. Credit risk is the up to date or future risk to earnings and capital happening from an obligors breakdown to meet up the conditions of any deal with the organizations or if an obligor otherwise not succeed to perform as contracted. The biggest source of credit risk is loans. However, credit risk exists all over the additional activities of the organizations equally on and off the balance sheet. In short, all the credit risks definitions provide same level of conclusion that if credit risk is greater than inspective so organizations will be suffering financial loss in balance sheet. Credit Risk: Financial organizations and financiers face several types of risk. One of the major risks is credit risk. Over the past decade, credit risk was a most important problem existing in the financial organizations. Credit risk has been one of the most active areas of recent financial research. Credit risk consists of two components: default risk and spread risk. Default risk defines as any non-compliance with the exact arrangement of a deal and spread risk defines as decline in market value of the deal/ tool due to change in the credit quality of the debtor/ counterparty. Credit Risk Models have assumed valuable because they give the judgment creator with on the way or awareness that would not otherwise be with pleasure available or that could be marshaled at too expensive cost. In business, almost all organizations carry some credit risk, because most organizations do not demand up-front cash payment for all products delivered and services rendered. Instead, most organizations distribute the product or service, and then bill the customer, often specifying net 30 days payment, in which payment is supposed to be complete on the 30th day after distribute. Credit risk is carried for the period of that time. In a market where margins are fast failing and the demands to lower pricing are implacable, models give their clients a competitive edge. The credit risk models are planned to aid banks in measuring, aggregating and managing risk across environmental and product lines. The results of these models also play more and more significant roles in banks risk administration and outcome measurement methods, client profitability analysis, risk-based pricing, active collection management and capital makeup decisions. Credit risk modeling may outcome in improved internal risk management and may have the possible to be used in the decision-making oversight of financial organizations. Credit risk analysis (finance risk analysis, loan default risk analysis) and credit risk management is essential to financial organizations which give credit to businesses and individuals. Credit can arise for different reasons: motor vehicle purchase finances bank mortgages (or home loans), credit card purchases, installment purchases, and so on. Credit loans and finances have risk of being defaulted. To understand risk levels of credit users, credit contributors normally collect huge amount of information on borrowers. Statistical predictive analytic techniques can be used to analyze or to determine risk levels involved in credits, finances, and loans, i.e., default risk levels. (Internal) credit score is a numerical rating of credit loans. It measures the level of risk of being defaulted. The level of default risk can be best predicted with analytical modeling. Credit scores can be measured in term of default probability or comparative geometric ratings. Managing credit risk is valuable for any organizations, and important resources are faithful to the task by large financial organizations with many customers. For large financial organizations, there may even be a credit risk department whose job it is to assess the financial health of their customers, and expand credit (or not) accordingly. For example, a distributor selling its products to a concerned vendor may challenge to minimize credit risk by reduction payment terms to net 15 days, or by actually selling less product on credit to the vendor, or even cutting off credit totally, and difficult payment in advance. These policies will possibly impact the distributors would-be sales, and basis smooth relationship with the vendor, but the distributor will end up better off if the vendor is delayed paying its bills, or, especially, if it failure to pay and say publicly bankruptcy. Definitions of Securitization Securitization a process whereby any Special Purpose Vehicle raises finances by issue of Term Finance Certificates or any other tools with the authorization of the relative authority of the country, for example, Pakistan commission (SECP) is authorization of the process for such purpose and uses such finances by making payment to the Originator and through such process obtains the title, property or right in the receivables or other assets in the form of actionable claims. There are lots of ways to explain securitization but in core, it is the financing or re-financing of earnings yielding assets by packaging them into a trade able form through an issue of government securities or further securities. There are three major kinds of securitization: true sale, synthetic and whole business (the final largely used in the England and, to a smaller size, continental Europe). In a true sale securitization, a organization sells assets to a special purpose vehicle which finances the purchase by issuing government securities to the capital markets. In a synthetic securitization, the organization does not sell any assets, but removes the risk of loss linked with certain of its assets to a Special purpose vehicle or a bank organization against payment by such of a premium or fee to the Special purpose vehicle. Whole business securitization is basically a secured loan granted by a Special purpose vehicle to the relevant organization. To contribution the loan, the Special purpose vehicle uses profits of government securities issued into the capital markets whereby the organization grants security over most of its assets in favor of the government securities holders. Since it is important for the whole work out to be a case of transfer of receivables by the originator, not a borrowing on the security of the receivables, there is a legal transfer of the receivables to a separate entity. In legal parlance, transfer of receivables is called assignment of receivables. It is also necessary to ensure that the transfer of receivables is respected by the legal system as a genuine transfer, and not as mere eyewash where the reality is only a mode of borrowing. In other words, the transfer of receivables has to be a true sale of the receivables, and not merely a financing against the security of the receivables. Securitization: Securitization is the procedure of financing the cost of originating or carrying economic assets. Those economic assets include responsibilities of clients originated by financial organizations or such as mortgage loans credit card receivables, student loans and student loans, trade receivables, and corporate bonds and loans. Financing arises during the issuance of asset-backed securities. In an asset-backed securities securitization, financial assets which are naturally illiquid, but exchange into cash in accordance with their conditions within a definite time. Financial assets are pooled and converted into asset-backed securities (which are then typically offered and sold in the capital markets). Mortgage backed securitizations and asset backed securitizations, or more usually, the securitization of economic assets, securitization is a form of structured finance firstly developed in the early 1970s in mortgage backed securitization format. It full-grown in the late 1970s in both mo rtgage backed securitizations and asset-backed securitizations formats. In current years, it has reach to Europe, Latin America and Southeast Asia (mainly Japan, India). In Pakistan market of securitization growing in recent year because international body of securitization improved the regulations according to Islamic structure for Muslim countries and these regulations match with international securitization transaction. Pakistan play lead role in Islamic securitization all over the Muslim countries. The local controllers have usually encouraged searching and introducing multiple asset-backed financing formations at large. While the whole banking and non-banking financial areas are now facing troubling due to worldwide financial disorder, pointed increase can be seen on the heel of Islamic securitization during contribution by private and commercial sectors. In its simplest form a Securitization require (1) the sale of a huge pool of Receivables by an person (Originator) that makes such Receivable in the line of its business to a bankruptcy-remote, special purpose entity in a way that meet the requirements as a true sale and is planned to reach definite results for accounting purposes, as well as caring the Receivables from the claims of creditors of the person (Originator), and (2) the issuance and sale by the special purpose entity, in either a private assignment or public offering, of obligation securities that are afterward fulfilled from the proceeds of and protected by the Receivables. When the Securitization is stopped up, finances run from the buyers of the Securities to the Issuer and from the Issuer to the inventor (Originator). Statement of the problem This research aim is to take action and analyze the following questions and interviews have been performing from the companies officer to receive information accordingly. What is method for control the credit risk in organizations? The purpose of Securitization in the Corporate Sector? The features of Securities to make its attractiveness? Why the investors are interested to invest in Asset-Backed Securities? Why Islamic securitization important in Muslim world? Does securitization reduce credit risk for the financial organizations? How the Asset-backed Securities have minimized credit risk for the financial organizations? To understand the role of banks and credit rating agencies in the Securitization. Determine the working of factoring for reduce the credit risk and define the benefit of factoring? What are the future prospects of Asset Backed Securitization in Pakistan and all over world? Define securitization costs and expense? How credit  scoring individual customer? How can minimize credit risk through securitization? What is the method of managing the credit risk and how to improve credit risk management? importance of the study The information technology and artificial results have been powerful the businesses of the worldwide economies. To deal with the different risks linked with the businesses, the businessmen have to come up with modern solutions and separate credit risk department and securitizations are one of them. All over the world companies face different type of risk in businesses including marketing risk, operational risk and credit risk. To deal with these risks and improved the financial position of the organization and increase the annual profit of the share holders (owners), they have to pick the positive modern solutions. If mangers of the organizations want to minimize the credit risk so securitization is one of the techniques picked by the organization. In the way, organizations achieved target profits and financial position without any loss of the operating, financial and market of the organization. Study of the credit risk and securitization is allows development new models and techniqu es in the capital market which ultimately create new and more investment chance in the capital market which provide large number of profit to the financial organizations. Study of the credit risk shows, at liberty Asia appeasing Credit Risk Management: 2006-2011 spend estimate and Analysis, local investments in credit risk functions for three purposeful systems, defaults chance judgment, credit collection management systems, and worldwide limits management systems are estimated to compound at a collection percentage of 16.6 per cent annually to US$1.74 billion by 2011. If organizations want to reduce credit risk so growth for successful performance of credit risk, financial organizations need to improve their IT functions for information collection and the interior rating process, categorize proper greatest practices and building ability. Study of credit risk and securitization have very important for any organizations because credit risk accounting for at least two-thirds of their on the whole risk, the financial organizations have the leading holder for credit risk functions. According to research of credit risk controller that if organizations want to reduce credit risk so buildup credit risk departments in the organizations for control the credit risk independence and working of credit risk department that manage the securitization procedures and improved the internal rating process and fairing collection the data about customer and country political issue. Political issue plays a lead role for unsystematic credit risk. In addition, these studies evaluate the opportunity where this idea of securitization can be effectively applied. The study not only points the current companies who have already accepted the securitization but also useful for the potential companies. Delimitation of the study This research was performed within the following limitations: Only financial organizations in the first market level of the Lahore and Karachi Stock Exchange was included in this research. Joint finances were also excluded. All the steps involved in this research process were completed within a two month period (December to February 2010-2011). This place a limit on the overall level of the study. The Lahore and Karachi Stock Exchange is relatively new in the field of credit risk and securitization. This impacts the amount of information available for me. CHAPTER TWO REVIEW OF LITERATURE AND STUDIES Background Credit risk and securitization is not new team for any businessman in the capital market. A lot of the articles, books, research papers and regulations are available in internet and library. I get help from a lot of articles and books for writing a thesis of credit risk and securitization. My work is distribution into two elements: selecting articles and summarizing results. I have read 135 plus articles, books, and research papers of different authors of all over the world for clear understanding of credit risk and securitizations. My literature search starts with electronic full-text databases and Economic Papers, using searching term credit risk and securitization in the title or keywords. Literature Credit risk occurs from the option that the issuer of an asset back securitization, generally a special purpose vehicle, may default on its liabilities. Since the special purpose vehicle is usually controlled to have no assets or business other than holding the securitized assets, the main focal point is on the cash flow from the assets themselves. The most significant option to be considered is default by the underlying borrowers, such as the car owners in the case of automobile loan securitization. While a small but expected loan loss ratio is controllable, the rating agencies must deeply analyze the difference in default and crimes rates and calculates any factors that might activate a growth in defaults. The growth of a possible control of credit risk and securitization market is very dependent upon the authorized and regulatory framework that is position provides sufficient security for investors. The financial organizations, investors, banks and development companies were attractive to perform the securitization for control credit risk. It is therefore, different agreement concerning the current and future receivables of the development companies have been performed through asset backed securitization in different business sectors of the country i.e. leasing sector, oil sector, construction areas, telecom sector, and public sector. Credit risk identification Valuable credit risk identification starts with individual credit measurement. Financial organizations should rate credit value of individual customer commonly. Some financial organizations may concern relative rating. Some rate by kind of credits or transactions. Some apply both relative rating and rating by kind of credits or transactions. Risk rating should also be practical to off-balance sheet transactions. The rating process should be transmission commonly so that adjusts in credit quality will be agreed in time. Such will help the management in revising the policy as well as closely monitor the non-performing loans within a suitable time period. In addition to risk rating, there should be a assessment and analysis of every section and the overall selection to ensure the accepted risk rating. Development analysis, change in risk level and weighted average risk level should be incorporated with other information such as past due trend, credit growth, and the extent of policy exception to help in the analysis of asset quality and credit risk. The principle of valuable risk management is identifying all possible credit risks in the products and transactions through a detailed review of credit risk element in the products and transactions. New products that can incur risk should be given much interest in the new product planning process. Close and careful monitoring should be carried out to ensure that the risks are identified and appropriately managed. Adequate guidelines and control procedures should be specified before the new products and transactions are projected or introduced. Moreover, the new products and transactions should be approved by the board of directors or other suitable committee. Credit risk measurement Financial organizations should have a correct and dependable system to measure credit risk of individual customer in accord with the quality, refund ability and kind of credits or businesses, equally on- and off-balance sheet credit transactions and bank account transactions. This is so that level of risk can be correctly measured, monitored and controlled. To have valuable risk measurement, financial organization should carry on as follows: Formulate a policy and strategy in risk measurement and the impact on financial organizations. Formulate risk measurement processess which is working in high level management which is relative to measuring credit risk. Clear customer segmentation and regular assessment of credit application. Assess the current level of loan loss provisioning against credit risk. That is, even when financial organizations have high level of risk; sufficient amount of provisioning can help reduce against the overall credit risk. Financial organizations should use suitable ratios to test whether the level of loan loss provisioning is practical. Ratio analysis will make known the trend of relationship between loan loss provision with different factors such as non-performing assets and normal loans pass due loans, and stop increased debts, credits and contingent liabilities. Credit risk Monitoring and controlling For reducing credit risk on account of such off balance sheet contacts, financial organizations may accept a multiplicity of measures some of which are showed below: Financial organization must make sure that the security, which is obtainable to the funded lines, also covers the latter of credit lines and the guarantee facilities. On some events, it will be suitable to take a charge over the fixed assets as well, particularly in the case of long-term guarantees. In the case of guarantees covering agreement, financial organization must make sure that the regulars have the necessary technical skills and experience to perform the agreements. The value of the agreements must be definite on a case-by-case basis, and break up limits should be set up for every one agreement. The growth about physical and economic displays should be monitored on a regular basis, and any slippages should be highlighted in the credit review. The policy to authorize non-finance facilities with an observation to increase earnings should be suitably balanced about the risk concerned and comprehensive only after a careful assessment of credit risk is undertaken. Feature of Securitization A securitized tool, as compared to a direct maintain on the issuer, will normally have the following features: Marketability The very important principle of securitization is to make sure marketability to economic claims. Hence, the tool is prepared so as to be marketable. This is one of the most important features of a securitized device, and the others that follow are mostly significant only to make sure this one. The conception of marketability involves two hypothesizes: (a) The authorized and general option of marketing the instrument; (b) The reality of a market for the instrument. Securitization is a misleading notion unless the securitized product is marketable. The very reason of securitization will be defeated if the device is full on to a few expert investors without any chance of having a liquid market therein. Liquidity to a securitized device is given either by launching it into an organized market or by one or more agencies acting as market makers in it, that is, approving to buy and sell the tool at either fixed or market-determined prices. Merchantable Quality To be market-tolerable, a securitized product has to have a merchantable quality in capital market. The idea of merchantable quality in case of physical produce is something which is suitable to merchants in regular trade. When applied to economic products, it would mean the economic obligations embodied in the tools are secured to the investors approval. To the investors approval is a qualified term, and therefore, the originator of the securitized device secures the device based on the needs of the investors. The universal rule is: the broader the base of the investors, the less is the investors ability to attract the risk, and hence, the more the need to securities. For generally distributed securitized tools, estimation of the quality, and its qualifications by an independent expert. The rating provides for the advantage of the position investor, who is otherwise not projected to be in a position to review the degree of risk involved. In securitization of receivables, the idea of quality experience drastic change making rating is a general requirement for securitizations. Hence, the quality of the maintain of the debtors believes significance, which at times enables to investors to rely simply on the credit-rating of debtors and so, create the device totally independent of the originators personal rating. Wide distribution The necessary principle of securitization is to distribute the product. The level of distribution which the originator would like to realize is based on a relative analysis of the costs and the benefits achieved thereby. Wider distribution guides to a cost-benefit in the common sense that the issuer is able to market the product with minor return, and hence, minor financial cost to him. But wide investor base involves costs of distribution and servicing. In observe, securitization issues are still hard for retail investors to recognize. Hence, most securitizations have been secretly placed with expert investors. However, it is possible that in to come, retail investors could be involved into securitized products. Special purpose vehicle In case the securitization needs any asset or claim which needs to be included and separate, that is, unless it is a shortest and unsecured claim on the issuer, the issuer will want an agent agency to act as a storage area of the asset or claim which is being securitized. Let us take the easiest example of a secured debenture, in concentrate, a secured loan from some investors. Here, security charge over the issuers some assets needs to be incorporated, and later broken down into marketable lots. For this purpose, the issuer will bring in an agent agency whose necessary job is to hold the security charge on behalf of the investors, and then issue documentations to the investors of valuable interest in the charge held by the intermediary. So, whereas the charge continues to be held by the intermediary, valuable interest therein becomes a marketable security. The same process is concerned in securitization of receivables, where the special purpose agent holds the receivables with it, and issues valuable interest documentation to the investors. Assets that can be securitized In essence, all assets which produce a cash flow can be securitized e.g. housing loans mortgage loans, credit card receivables, automobile loans, consumer loans, trade receivables, lease finance, etc. a perfectly and usual financial asset is usually securitized. A difference is generally made between asset securitization and mortgage securitization. Asset securitization is sheltered from a pool of loans and receivables though the mortgage backed securities are sheltered by residential or commercial mortgage loans however mortgage backed securities is a particular kind of asset backed securities. Process of securitization The process of creating asset backed securities is talk about in the following points: The Company sells its products and services on credit and this becomes the trade receivables or account receivables in the balance sheet of the company. Out of these receivables, the originator pools definite receivables jointly on the base of maturity and risk structures and sells these to a securitization company identified as Special Purpose Vehicle or Special Purpose Entity. The securitization company makes payment to the originator for the receivables purchased. These receivables are improved into a pool of securities by the securitization company for the reason of issuing Pass Through or Pay through Certificates. These Pay Through or Pass through Certificates are then charged by Credit Rating Agencies e.g. Pakistan Credit Rating Agencies (PACRA). The Pay Through or Pass through Certificates are sold to individual investors or Qualified Institutional Buyers. The gathering of receivables from debtors is obtained by Company itself in case of Pass through Certificates and by Securitization Company in case of Pay through Certificates. If gathering is made by the Company then it is under commitment to pass on the money to the securitization company. The securitization company after that makes payment to the investors. Why do issuers need securitization? These explanations the investors favor to invest in asset-backed securities: Securitization makes tools with reverse maturities, risks, vouchers, which is attractive to investors. Securitization is a prepared financial device i.e. customized to the risk-return and maturity needs of investors, rather than a trouble-free claim against an entity or asset. Asset-Backed Securitization offers and defer higher than devices with similar risk. This is appropriate to the credit value of the tools (generally AAA rated) and the credit development features. Asset-Backed Securitization offers a expected cash-flow. Investors purchase Asset-Backed Securities with self-belief that payments will take place at particular dates in the future. Asset-Backed Securities are protected by the fundamental assets; therefore they offer important security against lower by rating agencies to the issuer. It gives a chance to the investors to spread their investment collection by investing in these asset backed securities. Impact of securitization on the capital market The impact of securitization on capital market can be analyzed in the following points: Securitization decreases transaction costs in the capital market by generating a market for financial claims, which otherwise, would have continued illiquid, i.e. limited trading. Securitization saves intermediation costs, since the particular intermediary costs are service associated and usually lower. Securitization supports saving since it offers a security to investors with guaranteed interest or payments and an assertion of credit quality and security nets in the variety of trustee

Beowulf As Christian Allegory :: Epic of Beowulf Essays

Beowulf As Christian Allegory Beowulf’s story is somewhat of an allegory in which he is depicted as the Christ figure. The theme of Beowulf is a contrast of good and evil which is manifest in both Christian and pagan elements; Beowulf represents good, while Grendel, his mother, and the dragon represent evil. The first monster our hero, Beowulf, faces is Grendel. Grendel is said to be a descendant of Cain. â€Å"Unhappy creature (Grendel), he lived for a time in the home of the monsters’ race, after God had condemned them as kin of Cain† (Norton, 28). Cain is the son of Eve, the woman who bore sin into the world. A connection, however vague, can be made between the maternal relations of Eve and Cain and Grendel and his mother. Grendel’s mother can be considered to personify man’s fall from grace and Grendel himself might embody sin. Furthermore, the dragon Beowulf battles can be said to be a picture of Satan: â€Å"the smooth hateful dragon who flies at night wrapped in flameâ⠂¬  (56). When facing Grendel, Beowulf relies on God alone to protect him, saying, "†¦may wise God, Holy Lord, assign glory on whichever hand seems good to Him† (36). When Beowulf tears off Grendel’s arm, Hrothgar remarks, â€Å"I endured much from the foe, many griefs from Grendel† (39). It could be said that the Christian foe is sin, which causes much grief. Against Grendel’s mother, original sin, Beowulf becomes the Christian soldier. When Beowulf struggles against Grendel’s mother, God grants him a precious gift: â€Å"The Wielder of Men granted me that I should see hanging on the wall a fair, ancient, great-sword – most often He has guided the man without friends – that I should wield the weapon† (Norton, 48). This great sword is further described as â€Å"a victory-blessed blade, an old sword made by the giants†¦ the work of giants† (Norton, 47). The sword used to slay Grendel’s mother is work of her ancestral giants, who were godly until they fell from grace. â€Å"From (Cain) sprang all bad breeds, trolls and elves and monsters – likewise the giants who for a long time strove with God† (Norton, 28). Therefore, the sword was god-forged and godly. Here the hero is using â€Å"the sword of the Spirit, which is the word of God† to prevail (The Book of Ephesians 6.17, Bible). In his battle with the dragon (which may represent Satan) Beowulf is martyred, losing his life in the of the killing the dragon.

The Infinity Mirror :: The Infinity Mirror

The Infinity Mirror    "Tularecito" is a myth about truth. Tularicito, just a character of that myth, is the focus for this glossed over fable. Steinbeck draws on this form of genre to present the idea that we are all a part of what happens to others, based upon our nature.    The image presented of Tularecito is that of a demon, an idiot savant, a boy with a gift from God, and that gift's cost. He is a freak, a dangerous misfit, an innocent who does not need the constraints of reality. Tularecito is a test. The test is one of moral caliber. It is a test of the souls of the characters who overshadaow Tularecito.    Pancho is a man that is both holy and sinful. His purfunctory act of church going becomes true belief as alcohol demons induce him to halucinate a deformed boy into an outcast from hell. He looks into his mirror and sees himself, becomes shaken, reforms.    From Pancho's employer, Franklin Gomez, we get a cold hard look into society. We see a mother, knowing her son is to be hated and feared, and perhaps possibly killed, cannot face killing her son with her bare hands. She leaves the killing to exposure to the elements, enying herself a look into Tularecito.    Franklin adopts Pancho's demon, and Tularecito transforms into a disadvantaged who has been gifted with talent. Tularecito becomes a man at the age of six, "The boy grew rapidly, but after the fifth year his brain did not grow any more," To Franklin, Tularecito is grace, and graceless. He is talented in all things of any physical strength, and well proficient in the creation of beauty, and an artist in the care for life of nature. The touch of Tularecito brings beauty, and life, and love to the world, until he becomes enraged, (should anyone endanger what came from the touch of his hand). Franklin looked into   Tularecito's mirror and saw what Tularecito was.

Feedback Effects of Soil Carbon Cycling in Northern Ecosystems Essay

Feedback Effects of Soil Carbon Cycling in Northern Ecosystems Global warming will be greatest in mid-continental North America and Eurasia, where temperatures are predicted to increase 4 - 12_C during the winter and 2 - 6_ C in summer (Kasischke et. al, 1995). This warming will shift the boreal forest, bog, and tundra biomes that dominate these areas northward as much as 500 km in the first hundred years of warming (Toward...1988, qtd. in Varallyay, 1990). Alaskan studies indicate that these changes are already influencing ecosystem function and carbon balance in northern ecosystems (Grulke et al. 1990; Ochel and Billings 1992; Oechel et al. 1993; qtd. in Oechel et al. 1995). Alterations in carbon cycling in these soils are of particular concern, since soils of northern ecosystems store from 350-455 Pg of carbon, or from 22.5 to 29.4% of the world soil carbon pool (Billings, 1987; Post, et al., 1990: Oechel and Vourlitis, 1993; qtd. in Lal et al.1995). This sink is an important part of the global carbon cycle; soil carbon losses from changes in land use account for 40% of the increase in atmospheric CO2 to date (Tinker and Ineson 1990). Smith and Shugart (1993) have projected that the vegetation/soil system will eventually become a carbon sink when global warming occurs. However, the initial loss of soil organic matter and delayed response of ecosystems to range shifts are expected to cause an initial pulse of carbon to the atmosphere, representing a temporary positive feedback to climate change. The amount of organic carbon stored in the soil depends on the net primary productivity (NPP) of the ecosystem and the speed of humic decomposition. Rates of soil organic matter decay are partially temperature dependent; Jenkinson... ...niversity Press, 1995. Smith, T. M. and H. H. Shugart, 1993, The transient response of terrestrial carbon storage to a perturbed climate: Nature, 361, pp. 523-526. Stevenson, F. J. Cycles of Soil: Carbon, Nitrogen, Phosphorus, Sulfur, Micronutrients.: New York, John Wiley & Sons, Inc. 1986. Tinker, P. B., and P. Ineson, 1990. Soil organic matter and biology in relation to climate change: in Soils on a Warmer Earth, H. W. Scharpenseel, M. Schomaker and A. Ayoub, eds.: New York, Elsevier, 1990. Varallyay, G. Y., 1990, Influence of climatic change on soil moisture regime, texture, structure and erosion: in Soils on a Warmer Earth, H. W. Scharpenseel, M. Schomaker and A. Ayoub, eds.: New York, Elsevier, 1990. Whalen, S. C., W. S. Reeburgh, and K. S. Kizer, 1991. Methane consumption and emission by taiga: Global Biogeochemical Cycles, 5(3), pp. 261-273.

Hrm587 “Classics” Supplemental Articles List

HRM587 â€Å"Classics† Supplemental Articles List (Available in DeVry University/Keller Online Library) The articles listed below have all been acknowledged as contributing in significant ways to our understanding about change. We refer to them as â€Å"classics. † Many have been cited extensively in the literature and either share the foundations of the theories and practices discussed in our course or amplify them.They are presented here in the hopes that students will have an interest in digging deeper in their research for the final project and/or that they will refer back to them in their ongoing development as leaders. All have been searched in our EBSCO database and we include ISSN Numbers here for your ease of retrieval. We hope they contribute to your learning about Change Management and Leadership. Beer, M. & Nohria, N. (May/June 2000). Cracking the Code of Change. Harvard Business review, 78(3), 133-141 ISSN 00178012 Christensen, C. Overdorf, M. (March/April 2000). Meeting the Challenge of Disruptive Change. Harvard Business Review, 78 (2), 66-76. ISSN 00178012 Beer, M. Eisenstat, R. & Spector, B. (November/December 1990). Why Change Programs Don’t Produce Change. Harvard Business Review, 68 (6), 158-166. ISSN 00178012 Mintzberg, H. (July/August 1987). Crafting Strategy. Harvard Business Review, 65 (4), 66-75. ISSN 00178012 Collins, J. C. & Porras, J. I. (1996, September/October). Building your company’s vision. Harvard Business Review, 74(5), 65-78.ISSN 00178012 Nadler, D. & Tushman, M. (August, 1987). Organizational Frame Bending: Principles for Managing Reorientation. Academy of Management Executive, 3 (3), 194-204. ISSN 08963789 Peiperl, M. & Baruch, Y. (Spring, 1997) Back to Square Zero: The Post-Corporate Career Organizational Dynamics, 25 (4), 6-22. ISSN 00902616 Orlikowski, W. & Hufman, D. (Winter 1997) An Improvisational Model for Change Management: the Case of Groupware Technologies. Sloan Management Review, 38 ( 2), 11-21. ISSN 0019848X

Anthem Analysis Essay

anthem is a novel which describes a in store(predicate) in which flock go for unconnected all wisdom of individualism, to the point where people dont even manipulation the words I or me. It is a tribute to bingles ego, as in the value of individualism and ones uniqueness. By the end of the novel, the principal(prenominal) division, Prometheus, comes to watch that their battle is one that is unacceptable to loose. The liberty that they died to save crumb never pass a right smart. Every humans inner-self will always desire independence, which cant be killed by whatsoever leader, dictator, or ruler similar the association in which they lived in. The golf club claimed that all of his actions were ungodlinesss, overdue to the fact they wanted everybody in the society to be an compeer, and they dont alike(p) it when people strive more than others, like Prometheus did. He decided to choose how to live, sort of of letting someone choose for him. That is what Prometheus grew to learn, that granting immunity is necessary, and cant be shattered, and that is wherefore it is impossible to loose their battle.The originator, Ayn Rand, made that take up in this novel, while portraying verbalism, syntax, and figures of speech. Rand engrosss diction in the novel to state that it is reasoned to be an individual instead of existence a image of a matching set. Our name is equation We argon twenty We are six feet We were born, is a symbol of unity that the author shows us in the novel, she uses plural pronouns such as we, our, their, etc., whenever she means one person because the federation in the novel treats everyone as an equal and singular pronouns do not exist. Prometheus calls atomic number 32 The Golden One to emphasize that she is unalike from the others, he actually looks at her otherwise than he does to other men, which is a sin in the community because you may not love one person in specific, you must love all your brothers equally. shrewd the word Ego is the best way to understand the concept of this novel.Ayn Rand uses the word, Ego to evidence self individualism, your ego is something that makes u surplus from anyone else, it defines you as someone that is hard-hitting, and thats what the author is portraying. The author uses syntax to help the contributor understand the tone, and develop the main characters understanding of his actions. The quote, We shall not address our find to the City Council. We shall not extend it to any men. turn outs that Prometheus felt that if he inform the burrow to the city, past he would go for letting them walk all over the community, and decides to keep it to himself because he wanted freedom for once. The author writes, This God, this one word I as a symbol of his appraise to the word, it emphasizes his first real taste of freedom.The use of anaphora is illustrated at the beginning of chapter 12 when the main character, Prometheus, keeps repeating the word I to s how that he truly outright knows the meaning of the word, to be an individual. Ayn Rand uses figures of speech to demonstrate that individualism is a huge part of life, and everybody should take on it no matter what, and helps understand the characters more thoroughly. The author uses allusion when she gives the main characters, Equality and Liberty, the names Prometheus and atomic number 32. Prometheus stole fire from the gods, and gave it to the humans, and Gaea was the mother of earth and of all gods. ridicule is demonstrated in the novel when Prometheus duologue about how he felt halcyon when he was committing sins while he was in a dark and lonely tunnel working on his experiments, but then he feels sad and depressed whenever he is in the white, bright room, with all of his brothers. individualisation is a huge part of someone, it identifies you as someone distinct than anyone else, and it is what makes you surplus. If you dont have individualism then you tycoon as well not have a face, youre not unalike from anyone else, you are a person that has no true identity, and is identical to everyone else. Individualism allows you to have a name, unlike the story, that also makes you distinct from anyone else. The novel, Anthem, is an incredible story that makes you realize that you are unique in your own special way, and that everyone deserves freedom of who they truly are no matter what.