Jennifer Lopez Essay Example For Students

Jennifer Lopez Essay Jennifer Lopez was conceived in the Bronx, New York on July 20, 1970. She is thedaughter of a PC master Kindergarten instructor. Lopez consistently knew sewanted to be an entertainer. She began her showbiz profession by showing up in thechorus of artist, vocalist and choreographer Hinton Battles Synchrocinicitymusical in Japan. Jennifer Lopez got her took shots at acting in Connie KaisermansMy Little Girl where she play out a little part as Myra. She was chosen as oneof choreographer Rosie Perezs fly young ladies after she won a national competitionof around 2,000 contenders. Lopez whose hip-bounce move numbers instructed a loyalaudience in Foxs in living shading, parlayed her new perceivability into jobs onvarious T.V arrangement and motion pictures. In Living Colors was the initial step for Lopez. Lopez was all the while living in New York and needed to move to L.A. Lopez followed theshows maker Keenan Ivory Wayans Youll have more cash and moreexperience encourage to stay with the show. While she was shaking her bootyduring business on Living Color, one of her colleagues whose spouse waswriting and creating South Central for Fox recommended her for a section. Lopez wasseen as a common character here. The show was essentially over before itstarted. Melinda Lopez character which Lopez depicted in CBS second chanceco-featuring Connie Selleca and Megan Fallows was famous to the point that it wascontinued on Aaron Spelling arrangement Malibu Road. She denied the improvement dealwhich was offered by CBS in light of the fact that she needed a movie profession. Lopez acquainted hertalent with top producers with the film Mi Famillia. Following this film shejumped on Joseph Rubens Money Train. Despite the fact that, representative Bob Dole urgedAmericans to blacklist the film and the co -stars Woody Harrison and Wesley Snipeswere destroyed by pundits. Lopez left the train with triumph where she jumped on asGrace Santiago. Later on Lopez co-featured as Robin Williams latina teacherin the film Jack. In spite of having recently worked in Mi Famillia, Gregory Navaasked Lopez to try out as a piece of across the country search in Selena. No more bizarre tothe weights of tryout the previous artist came in, nailed her imprint and won therole. Jennifer Lopez push into spot light with her exhibition in this movieand expanded her Hollywood stock impressively. The film prevailing notwithstanding somegrumbly in the Mexican-American people group that Lopez was of Puerto Rican not too bad. 56 Lopez who has a yen for style from adolescence has made a terrificstart as star-crossed Selena with wearing a lot of sequins and spandex. Selenamarked a fresh start for Lopez in something beyond profession terms. In the wrapparty of the film In San Antonio, Lopezs sweetheart Ojani Noa took themicrophone and proposed on the move floor. The couple wedded in mid 1997. Lopez discovered without a doubt that she had accomplished fame when bogus gossipy tidbits about herdivorce where imprinted in standard papers after just two months ofmarriage. In any case, they separated following a year truth be told. Jennifer Lopez positioned sixteenth onthe People Magazines 1997s 50 most lovely individuals list. Lopez finished JimCarreys Liar Liars spring film industry sway with her film Anaconda. She returned to a similar genie in the fall where she showed up inverse Sean Pennin Oliver Stones U-Turn.. Lopez beat out a gathering of A-rundown on-screen characters to land arole in Out of Sight. Lopez who had marked a worthwhile arrangement with Sony musicafter an extreme offering war will be next found in Ants.

Free Essays on Out Of The Dust

Out of the Dust This story is about long-legged, red-headed, spot confronted hillbilly young lady. Her name was Billy-Jo. Her father didn't really need a young lady he needed a kid, yet he got a young lady. Presently this young lady had a major mouth and cheek bones that stood out like bike handles. She trailed her mom in the way that she was a gifted piano player. Similarly she likewise trailed her father in the way that she generally worked with her father and would assist him with the harvests and dealing with the creatures. Mama was on of the best piano players of the time. Her extravagant finger work was so rich and elegant. Mama was the person who made all the dinners and kept the house clean. Presently Pa was the rancher who dealt with the yields and the animals. Presently one day Daddy distraught an immense slip-up, he put a jar of lamp oil adjacent to the oven, and when mama saw it she thought it was water. So when she was making Pa's espresso she put lamp fuel in and made a tremendous pool of fire. Mama raced to find support from Pa. Billy-Jo tossed the flaring pot outside not realizing her mom was returning. The lamp fuel sprinkled all over her. Out of nowhere Ma turned into a colossal segment of fire. Billy-Jo pushed her to the ground and had a go at beating the flares urgent to spare her Ma. It was no utilization Ma consumed to death. From the outset her hands didn't hurt by any means, she just felt heat. At that point the Doc came and remove all the dead skin with scissors. At that point he drenched her hands. At that point the torment came. Billy-Jo could no longer play the piano. Her scarred hands confined her. At the point when she played it sounded terrible. Her hands could never be the equivalent. Likewise the main way Billie-Jo b rought in any cash was by playing piano for individuals. Presently she can't do this any longer. This is the point at which the entire story changes. After Ma's demise, nothing returned to the manner in which it used to be. Billie-Jo and Pa needed to make their own suppers now, they needed to keep the house clean. Also, the house was quiet. Dad never truly talked a lot after tha... Free Essays on Out Of The Dust Free Essays on Out Of The Dust Out of the Dust This story is about long-legged, red-headed, spot confronted hillbilly young lady. Her name was Billy-Jo. Her father didn't really need a young lady he needed a kid, yet he got a young lady. Presently this young lady had a major mouth and cheek bones that stood out like bike handles. She trailed her mom in the way that she was a capable piano player. Similarly she likewise trailed her father in the way that she generally worked with her father and would assist him with the yields and dealing with the creatures. Mama was on of the best piano players of the time. Her extravagant finger work was so rich and elegant. Mama was the person who made all the suppers and kept the house clean. Presently Pa was the rancher who dealt with the yields and the domesticated animals. Presently one day Daddy frantic a gigantic slip-up, he put a jar of lamp fuel close to the oven, and when mama saw it she thought it was water. So when she was making Pa's espresso she put lamp oil in and made an enormous pool of fire. Mama rushed to find support from Pa. Billy-Jo tossed the blazing pot outside not realizing her mom was returning. The lamp oil sprinkled all over her. Unexpectedly Ma turned into a gigantic section of fire. Billy-Jo pushed her to the ground and took a stab at beating the blazes edgy to spare her Ma. It was no utilization Ma consumed to death. From the outset her hands didn't hurt by any stretch of the imagination, she just felt heat. At that point the Doc came and remove all the dead skin with scissors. At that point he doused her hands. At that point the torment came. Billy-Jo could no longer play the piano. Her scarred hands confined her. At the point when she played it sounded awful. Her hands could never be the equivalent. Likewise the main way Bil lie-Jo brought in any cash was by playing piano for individuals. Presently she can't do this any longer. This is the point at which the entire story changes. After Ma's passing, nothing returned to the manner in which it used to be. Billie-Jo and Pa needed to make their own dinners now, they needed to keep the house clean. Also, the house was quiet. Dad never truly talked a lot after tha...

Gila Monster Facts

Gila Monster Facts Gila beasts are a piece of class Reptilia and live for the most part in the southwestern United States and northern Mexico. Their logical name, Heloderma suspectum, is gotten from the Greek words significance stud (helo) and skin (derma). This name alludes to their studded skin. Quick Facts: Gila Monster Logical Name: Heloderma suspectumCommon Names: Gila monsterOrder: SquamataBasic Animal Group: ReptileDistinguishing Characteristics: Heavy bodied reptile with a short tail and orange or pink spots on dark skin.Size: Up to 22 inchesWeight: 1.5 - 5 poundsLife Span: Up to 20 yearsDiet: Small winged animals, eggs, frogs, creepy crawlies, lizardsHabitat: Deserts, Grasslands, ShrublandConservation Status: Near ThreatenedFun Fact: The Gila beast is named for the Gila waterway in Arizona. Portrayal Gila beasts have venomous organs situated in their lower jaw. Their huge heads permit them to have solid nibbles that let their venom in the notches of their teeth sink into the person in question. They walk high on their legs to keep their tails away from the beginning swing their tail to and fro to look after parity. These reptiles chase throughout the spring and cover up in tunnels during the cool months, utilizing fat stores in their tail to continue them until spring time. They satisfy 20 years in the wild, can grow up to 22 inches, and weigh somewhere in the range of 1.5 and 5 pounds. Living space and Distribution Gila beasts live in southwestern United States and northern Mexico, in living spaces, for example, deserts, fields, and shrubland. They live at ground level and as a rule make their homes in tunnels in rough territories. Diet and Behavior <img information srcset=https://www.thoughtco.com/thmb/qgHyAA488XjzqCBEww-djeODSpI=/300x0/filters:no_upscale():max_bytes(150000):strip_icc()/gila3-589de814d91540c78445cd01c32fa3a6.jpg 300w, https://www.thoughtco.com/thmb/W0oJO1vxz4CuNoI9G1uVaXAFjTk=/600x0/filters:no_upscale():max_bytes(150000):strip_icc()/gila3-589de814d91540c78445cd01c32fa3a6.jpg 600w, https://www.thoughtco.com/thmb/zHFbVy0q710SfOYmack40WK9sOc=/900x0/filters:no_upscale():max_bytes(150000):strip_icc()/gila3-589de814d91540c78445cd01c32fa3a6.jpg 900w, https://www.thoughtco.com/thmb/Pu0aUlgfwXmjmWkFjmRIy2D_cdA=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/gila3-589de814d91540c78445cd01c32fa3a6.jpg 1500w information src=https://www.thoughtco.com/thmb/YCRdaexDDjSgqlLrJJXEErMY7zc=/1500x1000/filters:no_upscale():max_bytes(150000):strip_icc()/gila3-589de814d91540c78445cd01c32fa3a6.jpg src=//:0 alt=Gila Monster class=lazyload information click-tracked=true information img-lightbox=true information expand=300 id=mntl-sc-square image_1-0-12 information following container=true /> Gila beast eating a mouse. John Cancalosi/Photolibrary/Getty Images Gila beasts are carnivores, and their eating routine comprises principally of little feathered creatures and eggs. They additionally eat reptiles, frogs, creepy crawlies, and little warm blooded creatures. In circumstances of extraordinary temperatures during the day, gila beasts might be increasingly dynamic around evening time. Since they are generally moderate arriving at just about 1.5 miles every hour-they depend on covertness to get their prey and furthermore look desert flora for eggs in fowl homes. Also, gila beasts can not see well, so they depend on their solid feeling of smell and taste to follow their prey. They flick their tongues to find trails noticeable all around. These animals can eat up to 1/3 of their body weight and can store fat in their tails. This decreases the measure of time gila beasts need to spend searching for nourishment. Gila Monster Bite Gila beasts have amazing jaws that permit them to nibble and clutch their casualty for as long as 10 minutes. They store venom in the depressions of their teeth in their lower jaw. The majority of its nourishment can be devoured by gulping it completely or with one fast nibble. For bigger prey, similar to little well evolved creatures, gila beast venom saturates the body of the chomped creature and assaults its sensory system. A gila beast nibble can be difficult to people however isnt ordinarily lethal. Generation and Offspring <img information srcset=https://www.thoughtco.com/thmb/IZ9byFK8Lv5qXTiFK5ZczJZfYtY=/300x0/filters:no_upscale():max_bytes(150000):strip_icc()/gila2-216b4bf81a404eba941381414de445c3.jpg 300w, https://www.thoughtco.com/thmb/2zzJSqan_ufD6uAYpOaYW_M1IY8=/600x0/filters:no_upscale():max_bytes(150000):strip_icc()/gila2-216b4bf81a404eba941381414de445c3.jpg 600w, https://www.thoughtco.com/thmb/DDREO_ZIqLAx05GRkpabqVA7gzM=/900x0/filters:no_upscale():max_bytes(150000):strip_icc()/gila2-216b4bf81a404eba941381414de445c3.jpg 900w, https://www.thoughtco.com/thmb/Z2ItGt8Gg-ZVCGBYDrjJ27tmtmU=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/gila2-216b4bf81a404eba941381414de445c3.jpg 1500w information src=https://www.thoughtco.com/thmb/HkamRqdUgmLsCtdTZtSX920aRig=/1500x1000/filters:no_upscale():max_bytes(150000):strip_icc()/gila2-216b4bf81a404eba941381414de445c3.jpg src=//:0 alt=Gila Monster class=lazyload information click-tracked=true information img-lightbox=true information expand=300 id=mntl-sc-square image_1-0-21 information following container=true /> Gila beast bring forth from an egg.  C. Allan Morgan/Photolibrary/Getty Images Gila beasts arrive at the period of development between 3-5 years. Rearing season is in late-spring, when guys contend by taking an interest in wrestling matches. The female burrows an opening and delicately covers her 2-12 eggs that weigh 1.4 ounces and length 2.5 by 1.2 crawls all things considered. Approximately 4 months after the fact, the eggs incubate and gila beasts of sizes averaging 6.3 inches develop. They look like scaled down grown-ups with progressively lively hues and are all alone during childbirth. These youthful will develop to become diurnal animals that spend most of their lives underground with an explosion of action throughout the spring, which is spent chasing for nourishment. Three to four huge suppers will be all the nourishment it needs to endure the winter. They are for the most part lone creatures, however accumulate in little networks during mating season. Preservation Status Gila beasts are assigned as Near Threatened by the International Union for Conservation of Nature (IUCN). While the absolute number of gila beasts is obscure, their populace has been seen as diminishing in the United States and Mexico at an obscure rate. The greatest danger to gila beasts is people, as the creatures are pursued as prized assets and slaughtered by family unit pets. They are additionally illicitly gathered as pets. Gila Monsters and Humans Strikingly, a protein segment of gila monsters’ venom called Exendin-4 is utilized in a medication to oversee Type II diabetes. The protein has a homeostatic impact by directing glucose levels in the body. Scientists have discovered this medication to help oversee Type II diabetes by boosting insulin emission and reestablishing insulin reaction. Specialists are at present investigating whether this protein can be utilized to treat memory issue like Alzheimer’s sickness. Sources C., Triplitt, and Chiquette E. Exenatide: From The Gila Monster To The Pharmacy.. NCBI, 2006, https://www.ncbi.nlm.nih.gov/pubmed/16529340.Foothills Palo Verde Fact Sheet. Arizona-Sonora Desert Museum, 2008, https://www.desertmuseum.org/kids/oz/long-actuality sheets/Gila%20Monster.php. Gila Monster. The IUCN Red List Of Threatened Species, 2007, https://www.iucnredlist.org/species/9865/13022716#population.Gila Monster. Smithsonians National Zoo Conservation Biology Institute, 2019, https://nationalzoo.si.edu/creatures/gila-monster.Gila Monster Lizard. Fws.Gov, 2019, https://www.fws.gov/mountain-prairie/es/gilaMonster.php.Gila Monster | San Diego Zoo Animals Plants. San Diego Zoo, 2019, https://animals.sandiegozoo.org/creatures/gila-beast. Gotten to 1 June 2019.Zug, George R. Gila Monster | Description, Habitat, Facts. Reference book Britannica, 2019, https://www.britannica.com/creature/Gila-beast.

Speech On Freedom Of Speech - 3937 Words

Zhiyuan Li Philosophy 2367 Freedom of Speech A couple of months ago, University of Chicago’s president Robert J. Zimmerin expressed his concern about freedom of speech on campus in a Wall Street Journal article: Free speech is at risk at the very institution where it should be assured: the university †¦ Invited speakers are disinvited because a segment of a university community deems them offensive, while other orators are shouted down for similar reasons. Demands are made to eliminate readings that might make some students uncomfortable. Individuals are forced to apologize for expressing views that conflict with prevailing perceptions. Freedom of speech – the free and open exchange of ideas within a society – is thought to be fundamental to a democracy . In the United States, the freedom is protected under the First Amendment, which substantially restricts the government’s power to censor private speech . However, while people have been worried, almost traditionally, about increased government intervention to regulate speech, many have just realized the seriousness of social suppression on free speech – only until recently has it become widely known that the climate, especially on college campus, has made Trump-supporters afraid to admit their position publicly, creating a lot of misunderstanding and division among people. In this paper, I argue that it is pro tanto wrong to restrict the free exercise of speech, even if the speech itself may be hateful, deceptive,Show MoreRelatedFreedom : Freedom Of Speech And Freedom Of Speech1167 Words   |  5 Pagesdetermining how much freedom the citizens in a society has. Throughout history we have seen many different type of governments that include North Koreas’ dictatorship to the United States that has a government based on principles of democracy. In societies that have democratic governments such as the United States, England, France, and many other western European countries, the citizens have a high degree of freedom of speech. In addition, these people are allowed to have a high degree of freedom of thoughtRead MoreFreedom Of Speech : The Freedoms Of Freedom Of Speech937 Words   |  4 PagesFreedom of speech now a day’s means being able to have the right to express one’s own opinions without restraint. The United States of America is an open country for any U.S. citizen to be free to say what one would like. By citizens having freedom of speech, it gives the people the right to use hate speech. Freedom of speech belongs to every person in the United States. Here lately citizens are witnessing the rising concerns with hate speech. Unfortunately, hate speech is protected by freedomRead MoreSpeech : Freedom Of Speech1364 Words   |  6 Pages Even though freedom of speech can be tricky, understanding what can be said under the first amendment is key. This will give you more confidence when you re talking about current events, it ll inhibit social interaction, but the biggest reason of all is understanding your rights will keep you out of jail. Even the supreme court struggles to determine what exactly constitutes protected speech. When trying to see if your covered by the first amendment, certain questions have to be displayed. AreRead MoreSpeech On Freedom Of Speech953 Words   |  4 PagesFreedom of speech is authorized to every person; rich or poor, young or old, every person holds different opinion and it’s their right to express it. The definition of Freedom of speech is, every person has the right to express his/her opinion without the fear of government or society telling them it is wrong to express. Being individuals, we are all different. We all possess different ideas, tastes and thinking. Freedom of speech is like freedom of thoughts. If we are comfortable with each other’sRead MoreSpeech On Freedom Of Speech1484 Words   |  6 Pages Abby Koopmann Ethics Freedom of Speech Professor Hunt Culver Stockton College Freedom of Speech Americans have many freedoms that people in other countries can only wish they had. Just imagine a life where you could possibly be killed for speaking your mind and stating your opinion, other countries are living lives like that. According to Katy Davis, The United States ratified the first amendment on December 15th 1791 (Davis, n.d). We as a country don’t know where the governmentRead MoreSpeech : The Freedom Of Speech Essay1624 Words   |  7 PagesCitizens of the United States are privileged to the freedom of speech under the First Amendment, but the constitutional limits of the freedom of speech have been questioned on multiple occasions. Citizens of the United States have called upon the Supreme Court numerous times to interpret the meaning of the First Amendment, and the court has censored some forms of speech such as obscene speech --which has been prohibited--and indecent or pornographic speech--which has been regulated (Barrett, 1999). PublicRead MoreFreedom Of Speech : Speech1105 Words   |  5 Pages Freedom of Speech Freedom of Speech, part of the First Amendment, is a privileged right that should not be taken lightly. The Milo Bill is said to protect students’ right to their freedom of speech on school grounds. It was introduced at Tennessee’s State House and is named after Milo Yiannopoulos, a British public speaker who made a career out of â€Å"trolling† liberals and gained publicity for uncalled-for acts, such as racist and harassing comments on Twitter, which got him banned from the socialRead MoreSpeech On Freedom Of Speech1147 Words   |  5 Pages Freedom of speech serves to be a fundamental democratic right that affords every citizen participation in The United States constitutional democracy. It is a vital tool because it can be utilized by every person, rich, poor, black or white to voice their concerns and rejections of the federal or state government in hopes to bring about change. In addition, the first amendment allows for the free exchange of ideas, as it creates the moral imperative to challenge and oppose hateful ideas and celebrateRead MoreSpeech On The Freedom Of Speech3338 Words   |  14 Pages  Freedom of speech is the right to communicate one s opinions and ideas. The term freedom of expression is sometimes used synonymously, but includes any act of seeking, receiving and imparting information or ideas, regardless of the medium used. Governments restrict speech with varying limitations. Common limitations on speech relate to libel, slander, obscenity, pornography, sedition, hate speech, incitement, fighting words, classified information, copyright violation, trade secrets, non-disclosureRead MoreSpeech On Freedom Of Speech950 Words   |  4 Pagesexpress yourself freely. Liberty was not absolute for everybody. Way back and even today people still don’t have complete liberty in America. The early Americans put limits on freedom even when they were trying to create more freedom. The type of limits that the early Americans put on freedom were limits on freedom of speech, and much more. Even with the American Revolution, it was not for everybody. The American Revolution was only for the colonist and men, but over time the idea of liberty and

Capital Structure Of US And Chinese Companies Essay Example Pdf - Free Essay Example

Sample details Pages: 21 Words: 6150 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? The sudden break of the 2008 financial crisis is the first world level crisis of financial markets. A host of countries have suffered from this disaster. Throughout the world, many large banks have seen most of their equity destroyed by the crisis that started in the U.S. Don’t waste time! Our writers will create an original "Capital Structure Of US And Chinese Companies Essay Example Pdf" essay for you Create order subprime sector in 2007 and governments have had to infuse capital in banks in many countries to prevent further outright failure. Was the poor performance of the banks contribute to the outcome of a financial Tsunami that hit them unexpectedly, or were some banks more predisposed to experience large losses? Poor corporate governance of banks has increasingly been acknowledged as an important cause of this financial crisis. Because the U.S. And China banks were facing different capital market mechanism, tax system, agency problems and different forms of ownership, the China banks experienced different distressed financial conditions that U.S. Banks faced during the 2008 financial crisis. In this study we analyze the importance of country-specific factors in the leverage choice of banks from the U.S. as compare to China. The purpose of this paper is to investigate, from a comparative perspective, the nature and significance of country-specific factors as determinants of corporate fina ncial leverage. Our analysis yields a new result: Although we concur with the conventional direct impact of country-specific factors on the capital structure of firms, we show that there is an indirect impact because country-specific factors also influence the roles of firm-specific determinants of leverage. Section I: Introduction A generally accepted definition of capital structure has not yet been evolved. Traditional concepts describe capital structure as various financing tools or different types of financing source and its proportion. If the value of a firm is defined to be the sum of the value of the firms debt and the firms equity, then capital structure can be defined as the ratio of debt-to-equity. If the goal of the management of the firm is to make the firm as valuable as possible, the firm should pick the debt-equity ratio that makes the pie as big as possible. A much broader definition of capital structure encompasses a corporates ability to service its debts, refinancing ability and future profitability. Capital structure is one of the basic issues of theoretical research on corporate finance. The capital structure is the key problem in the enterprise theory and the practice of corporate governance. The earliest research on capital structure is studied as pure corporate financial decision-ma king problem ¼Ãƒâ€¦Ã¢â‚¬â„¢began in the 1950s, which was mainly about the relationship between capital cost and corporate value as well as the relationship between the cost of capital .In 1952,David Durant systematically summarized the traditional capital structure of various theories. Since the Modigliani-Miller theorem came forth in the 1950s, which forms the basis for modern thinking on capital structure,the research on financing decision theory has made a great progress with a mass of literature. With respect to the theoretical studies, there are two widely acknowledged research orientations: one is the mainstream theory, which studied the capital structure and corporate value relations; the second is the capital structure determinants school, which referred to factors influencing the capital structure. Following Modigliani and Millers seminal work (hereafter, MM model), significant theoretical progress has been made in terms of corporate capital structure and financial e conomics. A lot of studies show that capital structure is determined by a combination of factors that are related to the characteristics of the firm as well as to their institutional environment. Although most studies focus on the importance of firm characteristics by examining corporate financing choices within individual countries, a growing literature that compare differences in the capital structure between countries started to appear during the last decade (e.g., Demirgà ¼Ãƒ §-Kunt and Maksimovic, Booth and Maksimovic, et al. which finds that a firms capital structure is not only influenced by firm-specific factors but also by country-specific factors. These researchers conducted numerous empirical analyses; however, these were mainly based on the data of developed countries, such as the United States, the United Kingdom, Japan, Germany, France, and Canada. For countries like China where the role of the state is still pervasive, corporate governance development has to take political parameters into account, a phenomenon described by Lin (2000) as the duality of corporate and political governance. Listed companies in China show a totally opposite financing structure with the modern capital structure theory as a whole. The Chinese traditional political, societal and cultural contexts have recognized the norm of authoritarian management style and heavy dependence on coordination and integration by insiders. This has led to serious information asymmetry and lack of disclosure transparency. On the other hand, compared with the financial systems in developed countries, the Chinese financial markets and institutions are not yet mature due to our short history, so there is an urgency to investigate the financing patterns and the capital structure in China. Specifically, to confirm the finding of De Jong, et al. which reported there is an indirect impact because country-specific factors also influence the roles of firm-specific determinants of leverage, thi s paper examines the debt asset ratio of US companies and compare it to its Chinese counter part. The rest of this paper is organized as follows. The next section provides background discussion and hypotheses formulation. Section III presents a literature review about the capital structure. Section IV elaborates on the research methodology, including data collection, definition of variables, and model specification. Empirical results and analysis are presented in Section V. Section VI concludes this study. Section II: Background discussion 1) The 2008 financial crisis The financial crisis began in the U.S. during the second half of 2006 with a sharp increase in U.S. Bank losses due to subprime mortgage foreclosures. The financial crisis had its origins in the subprime lending of the housing market, but rapidly spread to every other segment of the credit markets. The US financial market and real estate market were shocked seriously due to the bankrupt of the subprime mortgage lenders, and this significant negative effect spread out to European market, Japan market, and other main global financial market in August, 2008. Due to this severe financial crisis, some worldwide banking giants were hit really hard. For example, share prices of Citigroup and the Royal Bank of Scotland tumbled by more than 95% from 2007 to January 2009. As an important part of the world economy, China was also affected by the financial crisis. The influence can be found easily from the import and export. The amount of import and export of China began to drop significantly since Oct. 2008, which is obvious due to the global financial crisis. However, the banking system in China did not receive such a great impact. According to statistics, the bad debt ratio in China still keeps at a low level about 2.45% at the end of the year 2008. The total value of banks in China has already been the largest in the world, even though their market value suffered an incredible shrinkage. 2) The situation of Chinese banking system After the beginning of the financial turbulences in summer 2007, the issue of banks corporate governance, with the notable exception of remuneration, went out of focus for some time. As a vitally important of the financial system, banking system cannot exempt from the seriously negative effect. Poor corporate governance of banks has increasingly been acknowledged as an important cause of the financial crisis. Listed banks and even non-listed banks worldwide have publicly emphasized that good corporate governance is of vital concern for the company. Numerous reports, documents and statements published in 2008 calling for reform of the banking system came out. The banking system in China has evolved from a monopolistic state agent to one with more than a hundred commercial banks, urban cooperatives and financial institutions coexisting in the market. Unlike the U.S. , banks in China used to serve as government policy lending agencies, providing funds to state-owned enterprises and taking deposits from private and public savers. Encumbered with non-performing loans, their profitability, productivity and asset quality remained quite low even after a series of banking reforms. However, it is striking to note that Chinas largest commercial banks emerged to become the biggest winners as a result of the crisis thanks to reforms over the last 10 years. In 2008, three listed Chinese state-owned banks, Industry and Commercial Bank of China, Bank of China and China Construction Bank had replaced their American and European counterparts to be the worlds three largest commercial banks in market value and profitability after they were listed on the stock exchanges only two years earlier. The most significant reform before the crisis was ownership diversification and optimization of capital structure, aiming to improve corporate governance and efficiency. China has different institutional structures from developed as well as many developing countries. Generally speaking, Chinese banking system have six striking features .The first one is the large size, which not only in relative terms but also in absolute ones. In terms of bank credit to the private sector as a percentage of GDP and in terms of bank credit in USD, China without any doubt ranks among the top. Furthermore, bank credit continuous to grow at a brisk rate, pushed by buoyant economic growth, despite the worldwide financial crisis. However, this does not imply a very developed banking system since penetra tion of banking products is low and bank credit for small and medium size enterprises and households is scarce. The second characteristic is that the Chinese banking system has been dominated by four very large state owned commercial banks. The competition in the banking system is not very strong, given the behavior of the four banks, the sustaining massive government intervention and the ample room for growth that the strong demand for credit has offered to all banks. During the financial crisis, the unprecedented large incentive package is the best evidence of this feature.( David Erkens,2009) The third feature is the rather peculiar structure of the balance sheet, compared to international standards. For example, loans are a large part of the assets, the majority of which are granted to the corporate sector and to a large-although decreasing-extent short term. A large amount of liabilities are deposits and retail depositors are the main financers of the banking system.(Zvi Griliches,2008) A fourth characteristic is very poor profitability. The return on average equity (ROE) of the banking system and the return on average assets (ROA) are lower compared to developed banking system.(Gonzà ¡lez-Hermosillo,2006) The main reason for the low profitability seems to be assets quality because Chinese banks have a much lower non-interest income than that of the U.S. ones. The fifth characteristic of Chinese banks has been their very poor asset quality and low capitalization. The ratio of non-performing loans is relatively higher compared to developed banking systems, like the U.S. The underlying reasons for such poor asset quality are soft-budget constrains for the lending to state owned enterprises but also a weak credit culture. The last characteristic is the poor institutional framework of the banking system. This is featured by a rather loose regulation and supervision, particularly as regards enforcement. Furthermore, the regulatory bodies, as we ll as the central bank, are dependent on the governments decision. The lack of enforcement power from the supervisory part helps explain the very limited improvement in corporate governance. Additional weaknesses are the lack of a bankruptcy law, a national credit bureau and a smooth functioning of the payment systems. In China, government intervention is a necessary part of the overall economy and an effective way to face with the special periods. Instead of using the tight monetary policy before, the government carried out a loose monetary policy with lower required reserve ration to motivate the issuance of new loans, thus simulate the spending activity and the market liquidity, and furthermore simulate overall economy performance towards the financial crisis. Changing the interest rate on deposit and loans is another way to simulate the spending activity, which did help quite a lot to Chinese banks. Because the U.S. And China banks were using a different business model, th e China banks experienced different distressed financial conditions that U.S. Banks faced. In this paper we compare U.S. leverage levels to that of China to determine whether the capital structure does influence banks during the last financial crisis. We will take 20 banks from China and U.S. respectively for the period between 2007~2009 as examples. Section III: Literature Review Empirical literature has discovered many facts regarding capital structure consistent with traditional theories. Titman and Wessels(1988) found that short-term debt ratios were shown to be related to uniqueness of a firms line of business, transaction costs, firm size, past profitability and market value of equity. While most of the evidence was obtained from U.S. data, capital structure theories have been tested in other economies environments either as a robustness test or as an attempt to clarify observed capital structure irregularities. An early investigation of differences in the distributions of capitalization ratios for U.S. and Japanese manufacturers was performed by Michel and Shaked(1985) . They obtain a result that Japanese manufacturing was more highly leveraged than U.S. Manufacturing by using nonparametric tests. Kester (1986) used a large sample of manufacturing corporations to analyze Japanese corporate capital and ownership structures and compares them to th ose of U.S. corporations. Specifically, it tested the hypothesis that Japanese manufacturing was more highly leveraged than U.S. manufacturing and attempts to explain the observed results. The results indicated that when leverage was measured on a market value basis and adjusted for liquid assets, there were no significant country differences in leverage between the United States and Japan beyond that which can be explained by variance in such factors as growth, profitability, size, risk and industry classification. When leverage was measured on a book value basis, significantly higher leverage was found in Japan even after controlling for such factors. Kesters(1986) study differed from Michel and Shakeds(1985) in its use of a larger sample and several different measures of leverage that adjust for cash and near-cash. It also attempted to isolate a pure country effect by controlling for firm specific characteristics likely to explain some of the variance in leverage within the sampl e. Rajan and Zingales(1995) performed an early investigation of seven advanced industrialized countries (G-7: including the United States, Britain, France, German ,Italy, Canada and Japan)in 1995. They investigated the determinants of capital structure choice by analysing the financing decisions of public firms in the major industrialized countries, which showed that firm leverage was fairly similar across the G-7 countries at an aggregate level. They argued that although common firm-specific factors significantly influenced the capital structure of firms across countries, several country-specific factors also play an important role. They also performed a deeper examination of the major institutional differences across countries and their likely impacted on financing decisions. Finally, they computed the within-country partial correlations between leverage and the factors identified as important, which suggests that the theoretical underpinnings of the observed correlations are s till largely unresolved. Wald (1999) examined the factors correlated with capital structure in the United States, Japan, United Kingdom, France, and Germany. Although both mean leverage and many firm factors appeard to be similar across countries, some significant differences remain. Specifically, differences appear in the correlation between long-term debt/asset ratios and the firms risks, profitability, growth and size. These correlations may be explained by differences in tax policies and agency problems, including differences in bankruptcy costs, information asymmetries, and shareholder/creditor conflicts. His findings suggested links between varying choices in capital structure across countries and legal and institutional differences. Demirguc-Kunt and Maksimovic(1999) examined the maturity of liabilities in firms in thirty developed and developing countries between 1980 and 1991. They found systematic differences in the use of long-term debt between developed and develop ing countries, and between small and large firms. They attempted to explain the observed cross-country leverage and maturity variations by differences in their legal systems, financial institutions, government subsidy levels, firm characteristics, and in macroeconomic factors, such as the inflation rate and the economys growth rate. They provided evidence confirming that firms in developing countries have less long-term debt, even after accounting for their characteristics. This lack of term finance was mainly owing to institutional differences, such as the extent of government subsidies, the different level of development for stock markets and banks, and the differences in the underlying legal infrastructure. Their finding also indicated that while policies that help develop legal and financial infrastructure were effective in increasing firm access to long-term debt, different policies would be necessary to lengthen the debt maturity of large and small firms. Improvements in legal efficacy seem to benefit all firms, although this result was much less significant for the smallest firms, which have limited access to the legal system. Similarly, policies that would help improve the functioning and liquidity of stock markets, would also mostly benefit large firms. In contrast, policies that would lead to improvements in the development of the banking system would improve the access of smaller firms to long-term credit. Booth et al. (2001) used a new data set to assess whether capital structure theory was portable across countries with different institutional structures. They analyzed capital structure choices of firms in 10 developing countries, and provided evidence that these decisions were affected by the same variables as in developed countries. However, there were persistent differences across countries, indicating that specific country factors are at work. Their findings suggested that although some of the insights from modern finance theory were portab le across countries, much remained to be done to understand the impact of different institutional features on capital structure choices. De Jong, Nguyen, and Kabir(2008) analyzed the importance of firm-specific and country-specific factors in the leverage choice firms from 42 countries around the world. Their analysis yielded two new results. First, they found that firm-specific determinants of leverage differ across countries, while prior studies implicitly assume equal impact of these determinants. Second, they reported there was an indirect impact because country-specific factors also influenced the roles of firm-specific determinants of leverage. Joseph, Sheridan, and Garry (2006) examined the influence of institutional environment on capital structure and debt maturity choices by examining a cross-section of firms in thirty-nine developed and developing countries. They found that a countrys legal and tax system; the preferences of capital suppliers and the level of corrup tion explained a significant portion of the variation in leverage and debt maturity ratios. They also found that firms tend to use more debt in countries where there was a greater tax gain from leverage, while firms in countries with larger government bond markets have lower leverage. However, they did not find a significant association between financing choices and the size of the insurance industry. As for the relevant research on capital structure issues in China, there were two main directions: one was to study the factors of influencing the capital structure; the other was to analyze relationship between corporate capital structure and business performance. Empirical studies about capital structure in China have made certain achievements. Corporate financing choices were determined by a combination of factors that were related to the characteristics of the firm as well as to their institutional environment. Although most studies focused on the importance of firm character istics by examining corporate financing choices within individual countries, there was a growing literature that considers how institutional differences affect these choices. With regard to the factors influencing capital structure, researchers theoretically and empirically analyzed listed firms in China from the viewpoints of macroeconomics, variety of characteristics of corporate management, and corporate governance. However, the results of these analyses were not in consensus. A remarkable feature of most existing studies on international capital structure is the implicit assumption that the impact of firm-specific factors on leverage was equal across countries . Differences in the impact of factors on firms capital structure choices seem to be explained by different legal and institutional frameworks. China and the U.S., a developing country and a developed country, each facing different capital market mechanism, tax system, agency problems and different forms of ownership, w hether capital structure in China was related to factors similar to those appearing to influence the capital structure of U.S. Banks? In this paper, it would give a more reliable analysis. Section IV: Methodologies 1) Data Collection The objectives of this study is to confirm the finding of De Jong, Nguyen, and Kabir(2008) which reported there is an indirect impact because country-specific factors also influence the roles of firm-specific determinants of leverage. This study encompasses 20 banks from China and U.S. respectively as examples. The recent two years financial reports will be analyzed from 2007 to 2009. All types of firms-large and small-are included as long as a reasonable amount of data is available. These banks represent 5 largest, 5 middle high, 5 middle low and the low by market capitalization. Chinese banks data for leverage and firm-specific variables are collected from CCER database, while the primary source of U.S. banks data are collected from the website (https://www.fdic.gov/index.html),which contains financial data on banks from a wide ranges in over 50 countries. Our sample period covers the years 2007-2009. The selection of a time-period involves the happ ening of 2008 financial crisis. A host of countries including China and U.S. have suffered from this disaster. It hit all the stock markets in the world and all internationally operating banks. This study would compare banks leverage levels of China to that of the U.S. to investigate whether their capital structure is similar to the US counter part during the financial crisis of 2008. It would utilize a regression framework with several firm-specific explanatory variables to find a relatively large explanatory power of leverage regressions in both countries. We also make a detailed comparative analysis of the impact of various firm-specific factors. 2) Variables and Hypothesis An appropriate definition of financial leverage is provided by the ratio of debt (both short term and long term) to total assets. In order to calculate the leverage (LEV) ratio of a firm, we adopt the following widely-used measure: the book value of debt over book value of total assets. The firm-specific determinants of leverage we use are also selected from prior studies and are defined as follows. SIZE: Firm size is defined as the natural logarithm of total assets. ROA: We follow Titman and Wessels (1988) by defining profitability as the ratio of operating income before depreciation over total assets. TANG: Tangibility is defined as net fixed assets over book value of total assets. In the analysis of firm-specific determinants of leverage we test the conventional theoretical variables on capital structure choice of firms. They are firm size, profitability (ROA) and tangibility which are based on the issues of empirical study. We run firm-level regressions with leverage as the dependent variable and firm-specific factors as explanatory variables for each of the 2 countries in our data set as follows: LEV = ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±o + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±1ÃÆ'Æ’-SIZEi + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±2ÃÆ'Æ’-ROAi+ ÃÆ'Ã… ½Ãƒâ€šÃ‚ ±3ÃÆ'Æ’-TANGi +ÃÆ'Ã… ½Ãƒâ€šÃ‚ µi where i denotes a firm. Section V: Empirical Results and Analysis Table 1 presents mean and median values of leverage and other firm-specific factors between China and U.S. banks during 2007-2009. GROUP 2007 2008 2009 N Mean Std. Deviation Mean Std. Deviation Mean Std. Deviation SIZE CHINA 20 26.009094 2.7993733 26.055600 2.9302108 26.718819 2.5964096 U.S. 20 17.856137 1.9069901 17.926557 1.9758217 17.949208 1.9756728 TANG CHINA 20 .010297 .0071202 .012651 .0119612 .011316 .0106232 U.S. 20 .164487 .0923847 .157971 .0884987 -.010125 .0443464 ROA CHINA 20 .056167 .0690544 .024995 .0232719 .026518 .0248596 U.S. 20 .009530 .0068630 .005450 .0055120 .161171 .0919421 LEV CHINA 20 .845663 .1224946 .833293 .1446172 .860692 .1442316 U.S. 20 .888539 .0538429 .881914 .0656875 .874315 .0505082 Previous studies analyze l everage ratios across a limited number of countries for the period of 1980s and 1990s and tend to observe a lower leverage in emerging economies. As can be seen from the above columns of Table 1, we observe firm leverage is fairly similar in both countries at an average level. Generally speaking, China banks have lower leverage ratio level than U.S. Banks. Sample statistics in 2007 show that banks in China have a median leverage ratio of 84.57%, 4.29% less than that of the U.S. So it is in 2008 and 2009. In the theory of firms capital structure and financing decisions, the Pecking Order Theory was developed by Stewart C. Myers and Nicolas Majluf [12] in 1984. It states that companies prioritize their sources of financing (from internal financing to equity) according to the Principle of least effort, or of least resistance, preferring to raise equity as a financing means of last resort. Hence, internal funds are used first, and when that is depleted, debt is issued, and when it is no t sensible to issue any more debt, equity is issued. Taking an important place in new capital structure theory centered with asymmetry of information, pecking order theory gains support from relative foreign empirical researches. However, the Chinese market exhibits high information asymmetry, phenomenal growth, highly concentrated ownership, and a lack of external market for corporate control. Most companies in China depart from the pecking order theory, while prefer to choose share certificates to gather capital. This is because, firstly, dividends on common stock are arbitrary, that is, equity financing is not an enforced obligation that has to be repaid by firms. Secondly, the corporate bond market in China is not well developed. Thirdly, managers are risk -averse. As for the profitability (ROA) for the banking industry, we observe that China behaves better than the U.S., especially in 2007 and 2008. China suffered less on dimensions of the financial system level during the 2 008 financial crisis. The most important reason is that the high level of restrictions of Chinas financial system, which lacks of systemic risk, helps to avoid the external transmission, and at the same time, that Chinas high savings rate provide for financial institutions to a stable, adequate source of funding that enables the financial institutions do not have to resort to high-risk, high-cost financing channels. When a financial crisis occurs, we would expect banks with more capital and more stable financing to perform better. We find that the scale of banking in China is larger than the U.S. banks with more capital in 2007and 2008 had higher returns during the crisis. Bank profitability in the USA was extremely high in the pre-crisis period, yet this did not prevent the current crisis. It has become clear that these profits were on shaky grounds and also that bank profits were not used to buttress banks capital bases. Evidence also shows that banks with more tangible asse ts use less long-term debt. We can see that China has less tangible assets than the U.S. Higher tangibility of assets often indicates lower risk for the lender as well as reduced direct costs of bankruptcy. During the 2008 financial crisis, the American Banks go bankrupt one after another, while banks in China remain profitable and stable. Table 2 presents the results of the leverage regression with both China and the U.S. analysis of firm-specific determinants of leverage. explanatory variable 2007 2008 2009 SIZE 0.404 (2.673)** 0.339 (2.461)** -0.394 (-2.103)** TANG 0.279 (1.776) 0.091 (0.617) 0.307 (1.929) Profitability (ROA) -0.596 (-4.693)** -0.719 (-6.075)** -0.22 (-1.212)** ** Significant at the 5% level Column one reports the regression for the full sample of 2007, column two provides evidence for the full sample of 2008 and column three the full sample of 2009 . The linear regression r esults show that corporate leverage is directly related to a number of firm-specific factors. We find that coefficients of SIZE are statistically significant and consistent with theoretical proposition in 2007 and 2008. Leverage of the banking industry in both China and the U.S. increase with bank size and smaller firms are expected to be financed less by debt because of the relatively larger information asymmetry problem before the financial crisis. With the high cost of debt, declining operating banks during the 2008 financial crisis decrease substantially funding with debt. As a result, leverage of the banking industry in both country decrease with bank size. There are two different views on how tangibility affects a firms debt ratio. On the one hand, in some studies tangible assets serve as collateral, secure the debt of a firm, and are a good proxy for the reduced agency costs that result from the conflict of interest between bondholders and shareholders (Booth et al.,2001)[ 2]. This view suggests a positive relationship between tangibility and debt financing. On the other hand, Berger and Udell (1995) [13] show that firms that develop a close relationship with their creditors need to provide less collateral in obtaining debt financing, because a close relationship can substitute for physical collateral. Their argument indicates that tangibility has either a weakly positive or no influence on a firms debt ratio. They also find that borrowers with longer banking relationships pay lower interest rates and are less likely to pledge collateral. From our sample statistics, we find that the result is consistent with traditional literature. We observe a positive relation between tangibility and debt financing during 2007~2009, even though the result is not strong enough. The coefficient estimates indicate that leverage is negatively related to profitability, which is consistent with recent international evidence (Rajan and Zingales, 1995) [8]. More profitab le companies tend to have fewer debts. Table 3 presents the results with a country-to-country analysis of firm-specific determinants of leverage for the period of 2007~2009. explanatory variable 2007 2008 2009 CHINA U.S. CHINA U.S. CHINA U.S. SIZE .731 (5.020)** .131 (.559) .408 (2.044) .345 (1.375) -.066 (-.395) .234 (1.204) Profitability (ROA) -.280 (-1.809) -.477 (-2.157)** -.435 (-2.389)** -.017 (-.073) .015 (-5.584)** .047 (.233) TANG .132 (.972) .119 (.501) 0.214 (-1.598) .022 (.089) .015 (.103) .642 (3.437)** We start our discussion of the results with a country-to-country analysis of firm-specific determinants of leverage. We run regressions to explain leverage from firm-specific factors including firm size, profitability (ROA) and asset tangibility. We observe that notwithstanding the limited number of banks in the sampl e, the adjusted-R2 of all regressions is above 50%. We find that factors identified by previous studies as correlated in the cross-section with firm leverage in the U.S., are similarly correlated in China as well. Performing a simple statistical test, we find that the determinants of SIZE and TANG are insignificant while compared respectively during 2007~2009. It indicates that bank size effects not significantly. Normally, the bigger the enterprise scale is, the stronger its ability to resist risks, the lower bankruptcy cost will be, and more conducive to debt financing. Bank is a special financial enterprise, whose main form of debt is to absorb public deposits. With Chinas commercial Banks appeared on the market in succession, assets growth accelerate quickly. This situation, caused the insignificant result .It indicates that the often-made implicit assumption of equal firm-level determinants of leverage across countries does not hold. As for the impact of profitability (RO A), our findings are consistent with the asymmetric information theory which suggests that firms first use retained earnings for new investments and then move to debt and equity, if necessary . The expected negative relation between profitability and leverage is found in both countries. In this study, the latter argument appears to apply to both China banks and U.S. banks. Moreover, the States presence has the potential to make the lenders demand less collateral. According to Jensen and Mecklings (1976) [14] framework, a high fraction of tangible assets owned by a firm mitigates the lenders risk, because these assets can be used as collateral. Hence, a large fraction of tangible assets is expected to be associated with high leverage. Tangibility can be used as a proxy for collateralization which is expected to be positively related to leverage. We think more research needs to be done to understand the impact of financial crisis on banks capital structure choices. Section VI: Conclusion Remarks Capital structure theories have been mostly developed and tested in a large number of literatures. Researchers have identified several firm-specific determinants of a firms leverage, based on the three most accepted theoretical models of capital structure, i.e. the static trade-off theory, the agency theory and the pecking-order theory. In recent years, international studies comparing differences in the capital structure between countries finds that a firms capital structure is not only influenced by firm-specific factors but also by country-specific factors. Several recent studies on the field have indicated that institutional differences between developed and developing countries explain a large portion of the variation in the use of debt. Because the U.S. And China banks were facing different capital market mechanism, tax system, agency problems and different forms of ownership, the China banks experienced different distressed financial conditions that U.S. Banks faced during th is financial crisis. In this study we use multiple logistic regressions to analyze the importance of country-specific factors in the leverage choice of banks from the U.S. as compare to China. The results of this study confirm the finding of De Jong, Nguyen, and Kabir(2008)[10] which reported there is an indirect impact because country-specific factors also influence the roles of firm-specific determinants of leverage. We start our discussion of the results with a country-to-country analysis of firm-specific determinants of leverage. Results show that the determinants of SIZE and TANG are insignificant and are inconsistent with the prediction of conventional capital structure theories while compared respectively during 2007~2009.It indicates that smaller firms are expected to be financed less by debt because of the relatively larger information asymmetry problem, and more profitable firms will have less leverage. However, we find two different views on how tangibility affects a f irms debt ratio. In 2007, the sample statistics suggest a positive relation between tangibility and debt financing, while in 2008 the condition runs in reverse. On the other hand, we also observe that in each country one or more firm-specific factors are not significantly related to leverage when compared respectively. For both countries, our results for the impact of firm-specific factors like firm size and tangibility are consistent with theoretical predictions. Although the U.S. developed bond market stimulates the use of debt, the role of asset tangibility as collateral in borrowing will be rather limited for banks in the same country. In other words, country characteristics may explain why in China a banks tangibility affects leverage, but not in the U.S. Moreover, the sudden break of financial crisis, which hits all the stock markets in the world and all internationally operating banks, may account for the reason. We think more research needs to be done to understand the impac t of financial crisis on banks capital structure choices. In summary, compared with developed banking industries, such as US, Chinese banking industry was not seriously affected by the latest financial crisis. This can be observed from the performance of Chinese banking industry during the financial crisis. China suffered less on dimensions of the financial system level. The most important reason is that the low level of openness of Chinas banking system, which lacks of systemic risk, helps to avoid the external transmission, and at the same time, that Chinas high savings rate provide for financial institutions to a stable, adequate source of funding that enables the financial institutions do not have to resort to high-risk, high-cost financing channels. Meanwhile, the revolution of capital restructure since the end of year 1993 also contributed to the stability of Chinese banking system during the global financial crisis. However, from the objective point of view, Chinas banking system is a product of a specific economic and social development stages. With Chinas further economic development and increasing demand for the growing diversity of financial services, the banking system is bound to become more open and financial markets more active, thus calls for higher financial supervision requirements. Finally, the influence of the financial crisis in foreign countries was weakened when it came to China due to some characteristics of Chinese capital market. However, we should not ignore the drawbacks of Chinese banking system. In order to further improve its competitive ability, Chinese banking industry should try the best to serve for the real economy, increase the speed of financial innovation under strict risk control management and further promote the reform of incentive and restraint mechanism. Section ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒâ€šÃ‚ ¦: Limitation I have considered of the inaccessible data of all the banks involved in the banking industry, in this case, 20 banks listed in Shanghai Exchange are investigated. It is their obligations that exposure their financial reports legally. In this case, investigation-related data can be achieved. However, it brings about the imperfections and inaccuracy of the data. To some extend, the outcome of the dissertation can not reveal the essence of the whole banking industry. Consequently, data from the web or other media are considered as substitutions, affecting the accuracy of data. On the other hand, although we consider the importance of different institutional factors between U.S. and China, we do not discuss how institutional differences between countries can potentially affect how banks within both countries are financed specifically with institutional variables, such as a countrys legal and taxation system, level of corruption and the preferences of capital suppliers, which may exp lain a significant portion of the variation in leverage and debt maturity ratios. And this should be our focus of future research. Finally, as the author of little talent and less learning, I am sure that the text of a number of inadequacies in the hope that readers criticism. The selected model does not observe bankruptcy risk to some extend this model can not reflect the total risk. Additionally, only equity financing and debt financing are considered even though some other financing ways exist.

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Gender Equality Essay Paper Example For Students

Gender Equality Essay Paper Outline1 Introduction2 Concept Evolution3 Advantages of Balanced Order between Both Sexes4 Difficulty Fighting5 Conclusion Introduction We all heard about feminism and suffragist movement, but we do not meet the mentioned phenomenon every day. Whereas gender represents a concept related to daily activities, adjusting our behaviors and worldviews. A community has formed certain patterns of female and male nature, which persons must follow in order not to feel outcasts. It is this fear of violating traditional foundations and writings that make us prisoners, limiting choices and opportunities. It is no coincidence that the whole world spoke about the importance of gender equality as a balance of rights between males and females. Concept Evolution Achieving gender parity serves one of the purposes of the millennium, for the fulfillment of which caring activists undertook. But the real transformation begins with us, so we should comprehend hooks and trivialities behind the indicated term. With its implementation into the everyday lexicon, the question of applying an argumentative approach and practice to the branches of human knowledge arose. Moreover, gender in every sense differs from the word â€Å"sex† since it does not mean anatomical or physiological characteristics, but the totality of social statuses, patterns of activity, as well as differences in the intrinsic motivation of the male and female principles. Gender roles prescribe certain types and sets of qualities that men and women should possess. Some research writings suggested that behavioral pattern prescribed for a woman by her genetic status affects life aims and expectations. For instance, ladies’ cognitive ability in societies with traditional views fall compared with the men’s ones of the same ages over the years. Studies devoted to the criticism of such conservative events as sexism, chauvinism, discrimination and patriarchal foundations, quickly occupied an honorable niche in academic circles. Supporters of the importance of gender equality clearly formulated theses that were not left pure theory but entered into free practice. In addition to hostile sexism expressed in statements about feminine inferiority, there is the so-called benevolent type. We are talking about girls’ idealization as clean, fragile creatures that need male protection. It is not surprising that many perceive this kind of sexism as something quite acceptable and even complimentary. However, it aids to keep women out of areas related to power and high position. Sexual emancipation, the achievement of social guarantees, the struggle for decent wages followed the verbal squabbles and prompted. However, in a detailed analysis, it becomes obvious that all successes relate only to the past two centuries exclusively to Western models of democracy. The participants in the equality movement have achieved a lot in their work, but the query appears: what is next? Advantages of Balanced Order between Both Sexes Maintaining gender equality is necessary not only because of its fairness and honesty, but to support mens preferences and the country’s stability as a whole. So, let’s select potential winners of the situation: According to most investigations, regimes with the best gender parity index have the highest criteria for happiness. Nowadays, leadership is held in Europe. Catalyst and other bureaus show the higher the harmony level, the better employees feel, which increases productivity and job satisfaction. Accordingly, a chief does not lose valuable personnel, creating a friendly and efficient crew. Now we are dealing with a new generation, radically different from their predecessors. They want a close relationship with their children, expect a similar return in careers and household from their partners, sharing the joys and troubles of parental status. The data of psychologists and sociologists demonstrate if a man is involved in raising kids, the latter study better in school, show good progress, are less prone to psychological kinks and are healthier. Wives are less likely to experience depression, frequently go to the gym and talk about marriage satisfaction. .u1d9576b90128bbac7aebc99bbfb2d96e , .u1d9576b90128bbac7aebc99bbfb2d96e .postImageUrl , .u1d9576b90128bbac7aebc99bbfb2d96e .centered-text-area { min-height: 80px; position: relative; } .u1d9576b90128bbac7aebc99bbfb2d96e , .u1d9576b90128bbac7aebc99bbfb2d96e:hover , .u1d9576b90128bbac7aebc99bbfb2d96e:visited , .u1d9576b90128bbac7aebc99bbfb2d96e:active { border:0!important; } .u1d9576b90128bbac7aebc99bbfb2d96e .clearfix:after { content: ""; display: table; clear: both; } .u1d9576b90128bbac7aebc99bbfb2d96e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u1d9576b90128bbac7aebc99bbfb2d96e:active , .u1d9576b90128bbac7aebc99bbfb2d96e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u1d9576b90128bbac7aebc99bbfb2d96e .centered-text-area { width: 100%; position: relative ; } .u1d9576b90128bbac7aebc99bbfb2d96e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u1d9576b90128bbac7aebc99bbfb2d96e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u1d9576b90128bbac7aebc99bbfb2d96e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u1d9576b90128bbac7aebc99bbfb2d96e:hover .ctaButton { background-color: #34495E!important; } .u1d9576b90128bbac7aebc99bbfb2d96e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u1d9576b90128bbac7aebc99bbfb2d96e .u1d9576b90128bbac7aebc99bbfb2d96e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u1d9576b90128bbac7aebc99bbfb2d96e:after { content: ""; display: block; clear: both; } READ: Animorphs EssayIn fairness, we note that some opponents of feminism express concern that the widespread belief in the existing glass ceiling in a feminine career leads to the situation when women are promoted in order to create a good image in business circles, rather than objective assessment of their talents and competencies. Difficulty Fighting From year to year, various ratings are published showing improvements in the protection of womens rights, whether they are indices of international organizations or private consulting companies. Here we need to recall an indicator of: Support for maternity Skilled medical care during pregnancy Literacy Mortality Education Employment Bathroom problem The struggle against domestic violence. As to the authors, this should demonstrate improvement, although, in the last 10–15 years, there have been no real qualitative changes. A possible issue consists of convincingly criticizing traditional institutions and values ​​that create unequal relations between males and females; current feminism cannot offer its own positive program. Denying political culture and men’s oppression, the fans put in the first place their own needs, but not world harmony. Do not forget that parity is not when 40% of the places in the Australian parliament or the Tagalog self-defense detachment belong to women only on the basis of their gender and mandatory quotas. Equality is the chance for everyone with the same access to available resources to realize their abilities for the common good. There is a perception that feminism has formed a society that is fundamentally vicious, has no future, and finally will ruin itself. It shows examples of the transformation of principles into dogma. The potential hook of gender equality requires resolution, but to allow only persons with populist papers is to be identical to failure. It is probably necessary to reconsider all methods of struggle, referring to both sexes, to the strong and the beautiful half of humanity. Conclusion Thus, gender boundaries should be defined bilaterally since parity is unthinkable in countries with a certain type of political regime. It needs to come to a unified decision on how to avoid the shortcomings of feminist discourse, namely: collective responsibility, the reputational crisis, the denial of merits without subsequent replacement and constructiveness, the pretentious insult to traditional ideas, and the lack of access to the general population.

The Yellow Wallpaper Essay Research Paper Insanity free essay sample

The Yellow Wallpaper Essay, Research Paper Insanity and Feminism in the Works of Charlotte Perkins Gilman ? The Yellow Wallpaper? by Charlotte Perkins Gilman reflects the intense battle with of a adult female during the late 1800? s. However, as the narrative unfolds, we realize the grounds for this insanity and the connexions of this dislocation to the chief character? s hubby, John. What we discover is the manner adult females were treated during the late 1800? s and the significance of this intervention on their lives. The narrative clearly expresses the hurting, resistance, and depression experienced by adult females at that clip and provides a background for the initial phases of the feminist motion. As the narrative begins, the writer decribes in item her painful relationship with her hubby. She writes? John laughs at me of class, but one excepts that in matrimony? . She besides explains? So I take phosphates or phosphites-whichever it is, and quinine waters, and journeys, and air, and exercising, and am perfectly out to? work? until I am good again. We will write a custom essay sample on The Yellow Wallpaper Essay Research Paper Insanity or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page ? It is clear that the chief character is really unhappy in her matrimony which causes her hurting, and that she is unable to make the things she would wish to make. When she states ? You see he does non believe I am ill! ? it is apparent that she feels really repressed and that no affair what she says that she needs her hubby, he does non hold the capacity to understand or to react to those demands. He is emotionally unavailable. Her defeat grows and contributes to her insanity and hurting as the narrative progresses. The house in this narrative represents the chief character and the resistance she faces related to her hubby. ? It is rather entirely, standing good back from the route, rather three stat mis from the small town. It makes me believe of English topographic points they you read about, for there are the hedges and Gatess that lock, and tonss of separate small houses for the nurserymans and people. ? The manner she describes how the house stands back from the route and the he dges, walls, and gates that lock are symbolic of how she sees herself. She feels really entirely. The chief character provinces? I am afraid, but I don? t care-there is something unusual about the house-I can experience it. ? This explains how she feels about herself, that something is incorrect, she can experience it. These feelings are straight connected to oppositional nature of her hubby. The remainder of the narrative conveys in great item the symbolism of the xanthous wallpaper, it? s part to her depression. The wallpaper seems to stand for the chief character? s hubby. ? The wallpaper, as I said before, is torn off in musca volitanss, and it sticketh closer than a brother-they must hold had doggedness every bit good as hatred. ? She continues? This wallpaper has a sub- form in a different shadiness, a peculiarly annoying one, for you can merely see it in certain visible radiations, and non clearly then. ? This mirrors the manner she feels about her relationship with her hubby, how he controls her every move, and the manner he smothers her. In direct contrast is the form in the wallpaper which represents the chief character and her matrimony. ? The swoon figure buttocks seemed to agitate the form, merely as if she wanted to acquire out. ? The chief character continues? Sometimes I think there are a great many adult females behind, and sometimes merely one, and she crawls about really fast, and her creeping shingles all over. ? The description of the forms in the yellow wallpaper represent a changeless battle in an unhappy matrimony and the chief character? s desire to go forth the relationship, but reflect her inability to make so. Consequently, she becomes highly down. In decision, ? The Yellow Wallpaper? is a really symbolic narrative, representative of life in the late 1800? s, and the battle for adult females to be heard. This narrative is written about the life and experiences of one person, her hurting, resistance, and depression, but can be expanded to stand for the battle for freedom for all adult females during that epoch.

The Veterans Health Care System

The Veterans Health Care System Free Online Research Papers In the mid-1990s, the Veterans Healthcare System (VHA) appeared to be in deep crisis. A large number of its hospital beds were vacant. National reviews demonstrated that majority of VHA surgeons had not picked up a scalpel for the whole year. The veteran population was decreasing harshly, as Korean War and World War II veteran soldiers continued to die. All at once, a mass relocation of veterans from the Snowbelt to the Sunbelt hospitals in Tampa, for instance, with new patients, whilst those in cities like Pittsburgh had quarter of vacant beds. Numerous physicians saw that the VHA’s ingrained bureaucracy had to be overturned. A fundamental downsizing and decentralization of administration power was run, pay-for-performance agreements with top managers were put into practice, and ineffectual physicians were allowed to be fired. The VHA also was transformed from an acute care, hospice-based structure into one that placed a lot more supplies into primary care and outpatient examinations for the increasing number of aging vets overwhelmed with chronic diseases. A foremost change in healthcare within the VHA took place in 1996 when Congress approved the Veteran’s Health Care Eligibility Reform Act of 1996, Public Law 104-262. The law established a standard medical-benefits package that became accessible to all registered veteran patients. Once entitled veterans are registered in the system, they are consigned a priority group. Services provided and the amount enclosed can fluctuate among various priority groups. By 1998, Dr. Kenneth Kizer’s (who was at the root of VHA’s transformation) unexpected result of the VHA’s change in functioning structure was already bringing him management expert rank in a time in which management experts were almost demigods. However, the most remarkable changes of the Veterans Healthcare System did not just engross those trendy, 1990s suggestions as downsizing and decentralization. It also entailed a fascination with methodically progressing quality and safety that to till present time is still mostly absent throughout other private healthcare organizations. Improvements in VHA have absolutely affected the effectiveness and efficiency of the organization. One of the benefits of the new system is that physicians are now able to write down their orders into computers. The computerized system instantly verifies any order against the veteran patient’s account. If the physician working with a patient have advised a wrong recipe of drugs or disregarded the patient’s preceding allergic reaction to a medicine, the computer flings a red flag. Afterward, when hospital pharmacists look at those prescriptions, the automatic system produces a bar code that is on the container or intravenous bag and records what the drug is, whom it is prescribed for, when it should be managed, in what dosage, and by which patient. One of the veterans, Jack Robertson, who is enrolled in VHA system, says there are numerous benefits with this new system. He tells that each patient now has got an ID armlet with his own bar code, as well as each nurse. Before providing any medicine, a nurse first examines the patient’s ID armlet, then her one, and then the bar code on the drug prescribed. If she has the wrong patient or the wrong medicine, the computer will tell her. The laptop will also generate a report if the nurse is delayed administering a drug, and telling you were simply too busy is not a justification, says Roberson. In his opinion, this ID armlet system also diminishes the possibility of administering the wrong medicine to the wrong patient, and in the wrong dosage, as it could happen before. Besides these evident benefits in making right diagnoses, it also helps both patients and hospital workers not to spend unbearably long hours coping with paperwork and other formalities. One doctor working at both usual hospital and the VA Medical Center informs that he is able to observe as many patients in a few hours at the VHA hospital as he is able the entire day at the usual hospital. Jack Robertson is especially satisfied with the feature that anyone registered in the VHA will have access to his or her personal entire medical records from a home laptop, or give authorization to others to do so. â€Å"Consider what this means,† tells Robertson. â€Å"Say my son is living on the West Coast, and he calls me, who lives back East. He asks me to tell him what my physician said during at my last appointment and I certainly speak unclearly something about some blue and white pills that were prescribed to me. However, now my son is able to supervise my medical records, and be aware precisely of what medicines I am supposed to take and what my current health conditions is.† The same scheme reminds physicians to stipulate proper care for veterans when they leave the hospital, for example, beta blockers for heart attack patients, or eye examinations for diabetes victims. It also helps to keep track of which patients are in line for a breast cancer monitoring, a flu shot, or other recorded care a job almost impossible to succeed in using paper records. One more benefit of computerized records became evident when the medicine-producer Merck declared a recall of its accepted arthritis drug, Vioxx. The VHA was competent to instantly discover which of the patients used this medicine at the moment, and to change the drug for less hazardous substitutes quite quickly. Likewise, in the center of a countrywide scarcity of flu vaccine, the automatic system has also made possible for the VHA to recognize, almost instantaneously, those patients who are in utmost need of a flu shot and to ensure those veterans to have precedence. Mr. Robertson also said that one veteran friend of his a person with a cancer who had been in and out of nursing homes gladly stated that he became ahead of other 5,000 patients for a flu shot. He was very content that his VHA hospital informed him that he was eligible, and made it possible for him to make necessary procedures on time. Therefore, VHA is a seriously advancing public health system and it guarantees to provide local pharmacies with much more business, since more and more patients are prescribed drugs to control their chronic diseases. However, projections illustrate that, between 2005 and 2009, the proposal cost local hospitals about $8 million in lost revenue, and cut the wages of the county’s physicians by about $1.5 million. An optimistic dedication to superior services in healthcare does not pay the bills. These days, the program survives barely by attracting charitable support, and, lately, a $500,000 endowment from Congress. For medical providers outside the VHA structure, advancing service quality seldom makes economic sense. True, a hospital can have a business case for buying the newest, most costly imaging devices. The equipment will facilitate in attracting a lot of highly-credentialed physicians to the hospital who will take lots of customers with them. The equipment will also encourage stacks of new demand for hospital services by hoisting all kinds of alleged â€Å"pseudo-diseases.† These are numerous ambiguous, symptomless conditions, such as petite, slow-growing cancers, that persons would never have become aware of in another case since they would have long since passed away because of something else. However, funding any machinery that eventually serves to decrease hospital admissions, like an automatic medical records scheme that allows more efficient illness supervision and diminishes medical mistakes, is probable to take money directly from the bottom line. So, why the Veterans Healthcare System is considered the most efficient and effective in the nation? Primarily, because it is such an outlier in its loyalty to quality. To some extent, it’s because of well-timed, compelling leadership. Further, unlike practically all other healthcare organizations in the United States, VHA has a basically lifetime connection with its customers. Veterans do not change one health plan for another every few years. They establish a relationship with the Veterans Healthcare System in their early teen years, and it goes on. Consequently, the VHA in fact has a motivation to put in effort to prevent and more efficiently and effectively manage diseases. In doing so, it leads not only to saving customers’ money but also to getting the most out of its own resources. Furthermore, since VHA is not a profit maximizer, it has no need to be worried about innovative technologies or innovative practices that keep people well. It also does not make sense for VHA to screech for ultra-modern devices that in fact do not develop the system’s quality or efficiency of care. VHA has proven itself to be a well-defined system, and it continues to act like that. It can methodically handle customer safety issues. It can methodically administer data using standard policies and interfaces. It can methodically advance and put into practice evidence-based principles of care. It can methodically identify where its care system requires enhancement and implement corrective actions. In summary, it can accomplish what the majority of our healthcare organizations appear not to, that is to practice quality methodically without risking its own financial stability. While the healthcare crisis gets worse, and while more people discover how unsafe and unscientific majority of the U.S. healthcare organizations are, it’s time to find a way to change something with this strange reality. A lot of US citizens still consider the American healthcare system to be the superior among all other countries, and that the only significant problems it faces are its expensiveness and leaving too many patients uninsured. But the evidence shows that US people live shorter lives and have more disabilities and chronic diseases than people from other countries that spend hardly half as much money on healthcare. Putting more capital into the present healthcare system will not change that. Moreover, making the existing system more disjointed and motivated by short-term earnings will not help either. What will help is getting a lesson presented by the Veterans Health System that could show the way to an all-American healthcare problem solution. Research Papers on The Veterans Health Care SystemArguments for Physician-Assisted Suicide (PAS)The Effects of Illegal ImmigrationThe Fifth HorsemanThe Project Managment Office SystemAnalysis of Ebay Expanding into AsiaTwilight of the UAWInfluences of Socio-Economic Status of Married MalesBionic Assembly System: A New Concept of SelfPETSTEL analysis of IndiaBringing Democracy to Africa