Policy on Refugees and Integration in Costa Rica

Policy on Refugees and Integration in Costa Rica COSTA RICAN GOVERNMENT POLICY ON REFUGEE AID AND INTEGRATION INTRODUCTION: THE AMBIGUOUS STATUS OF THE REFUGEE AND COSTA RICA The problem of the refugee originates as a peculiarly twentieth century phenomenon. The displacement of peoples from the very borders that delineate states presented a historical challenge that threatened the integrity and the essence of the latter. As the philosopher Giorgio Agamben abstracts the pertinence of this problem: Every time refugees no longer represent individual cases but rather a mass phenomenon (as happened between the two wars, and has happened again now), both these organizations and the single states have proven, despite the solemn evocations of the inalienable rights of man, to be absolutely incapable not only of resolving the problem but also simply of dealing with it adequately.[1] For Agamben, this inadequacy of the treatment of the refugee problem, despite the international consensus on the existence of the human rights of the refugee, is intimately tied to the theoretical shortcomings of the notion of the Nation-State itself; there is a consistent rupture in t he functionality of the Nation State when confronted with the anomaly of the refugee, i.e., when a subject is separated from his/her state, this subject becomes a disturbing remainder that other states find it difficult to account for. Thus, insofar as the refugee denotes a certain failure of the Nation State to protect its citizens/non-citizens, the case of the refugee denotes the limit of the State. Nevertheless, despite the tension between the notions of the refugee and the state that ground their relationship, there is an attentiveness to this problematic (evinced in Agambens own remark), demonstrated by the general consciousness of the existence of the refugee. Hence, regardless of any discerned policy inadequacies, there still exists a concerted effort to address the problem. The success of various refugee policies certainly may be evaluated, e.g., as with Agambens negative evaluation. In the case of Costa Rica, its treatments of the refugee crises that began in 1980s Central America was an example of some moderate successes, or at least, the desired mobilization of a states capabilities via governmental policy towards the refugee cause. However, this mobilization encountered its own distinct problems, over-determined (following Agambens abstraction of the problem) by the irregular status of the refugee him/herself. The successes and failures of Costa Ricas refugee policy is a particularly significant case study for numerous reasons. To the degree that there was a concerted effort from the Costa Rican officials to alleviate the refugee crisis, the shortcomings relate not to Costa Ricas negligence of this crisis (thusly indicating the direction of an evaluation of this policy in terms of a general apathy on the part of Costa Rica), but the opposite: it is this very effort that provides a compelling case for an analysis of a refugee policy in terms of its affectivity and its limits. That is, Costa Ricas attempt to rectify their refugee problem, rather than ignore it or deal with it in a manner that undermines the notions of the rights of man, provides an excellent paradigmatic case for the possible indexing of refugee policy. It is because of this very commitment to alleviating the problem that Costa Rica, despite any subsequent further critiques regarding the details of their refugee policy, is recognized by the international community as having advanced a fairly successful policy in regards to refugees. As Tanya Bysok notes Costa Rica is often cited as a model for refugee settlement.[2] However, this is not to suggest that the Costa Rican approach is flawless. Whilst some policies of the Costa Ricans have been recognized as effective by social scientists, this praise does not diminish the evident gaps in the Costa Rican policy. In this paper we shall examine the Costa Rican treatment of the refugee and attempt to understand how the refugee was integrated/or non-integrated into Costa Rican society. This analysis will be concerned with Costa Ricas approach; however, whilst there was a clear Costa Rican governmental policy, a significant factor in the Costa Rican case is the large presence of foreign organ izations that were encouraged to participate in a possible refugee solution. Thus, because of the Costa Rican openness to a diversity of aid organizations and volunteers offering support, the qualitative analysis of the success/failures of the Costa Rican approach cannot merely be attributed to the Costa Rican government itself. Whilst this encouragement of international participation may be logically viewed as an autonomous gesture of the Costa Rican government, it can also be construed as Costa Ricas self-acknowledgement of having been fundamentally overstretched in terms of its capabilities to handle the problem. Secondly, this analysis shall be supplemented with an anonymous questionnaire of former refugees in Costa Rica, in order to introduce a non-theoretical personal discourse within the parameters of our text. The method of the questionnaire is placed into the paper to act as a balancing point with the theoretical evaluation. The emphasis on the notion of testimony, a form of empiricism all its own, forwards an account of the Costa Rican policy that evaluates the countrys treatment of refugees from a theoretical standpoint, while also acknowledging the power and significance of such a testimony. COSTA RICAN REFUGEE INTEGRATION ANALYSIS The genesis of Costa Ricas refugee problem may be preliminarily abstracted as a matter of geopolitical positioning. Costa Rica occupied a hazardous place within Central America in the 1980s. The relative stability of Costa Rica was contrasted by the neighboring conflicts in El Salvador, Panama, Guatemala, Nicaragua and Honduras: The 1980s evinced a certain explosion of such geopolitical and ideological tensions in Central America, from which Costa Rica was spared. As Martha Honey notes, the Costa Rica of the 1980s â€Å"appeared to be an oasis of tranquility†[3] It is this status of a certain oasis in Central America, that evidently yielded Costa Ricas refugee problem: as a stable nation, it represented the destination of choice for refugees seeking to avoid war in their native lands. Costa Ricas stability as a source for refugees has continued in the time period since the beginning of the 1980s. Yet the refugee that Costa Rica encounters now is substantially different: Refuge es coming into Costa Rica today tend no longer to be from Central America but instead the vast majority are from Colombia. Many are middle-class, urban professionals.[4] Thus, by no means is the refugee in Costa Rica a homogeneous figure. The wars across Central America in the 1980s that led to such displacement are no longer a significant factor in present Costa Rican refugee policy. The Costa Rican encounter with the phenomenon of the refugee begins in 1980 with increasing hostilities in the neighboring country of El Salvador. The immediate reaction of Costa Ricas treatment of this refugee influx distinguished itself from other nations such as Honduras. Whilst Honduras policy favored the internment of the Salvadorian refugees in camps, Costa Rica from the outset emphasized the process of making the refugee self-sufficient; they sought to sever any dependency of the refugee on the state apparatus itself, while simultaneously integrating the refugee into Costa Rican society. These two approaches immediately evince a lucid difference in treatment. In the case of Honduras, this treatment may be viewed as an isolationist approach, insofar as the site of the camp becomes the home of the refugee it does not represent a zone of inclusion, but rather one of suspension moreover, it is an implicit acknowledgment of Honduras government inability to deal with the phenomeno n of the refugee, placing the refugee in a certain no-mans land, as it waits for the conflict in the home country to cease. In contrast, the Costa Rican emphasis on autonomy and self-sufficiency denotes the acceptance of the refugee immediately into its boundaries. We can abstract this difference in terms of a synchronous thinking and a diachronous thinking. In the case of Costa Rica, the policy does not introduce the phenomenon of two times, i.e., waiting for the war to stop rather, the interruption of the refugee experience is directly addressed, through a minimization of this interruption that is a policy of refugee inclusion in Costa Rica. On the other hand, in the Honduran approach, two times are articulated, a wartime and a non-war time. There is no possible mediation between the times; there is only a case of transition and thus, a passivity on the part of the government that is then transferred to the refugee him/herself this interruption that is the refugee event determines the entire Honduran policy. In essence, Costa Rica attempted to establish the continuity of the refugees’ life, allowing for the possibility of a normalcy to remain in the face of a crisis. Such initial successes of the Costa Rican programme may be attributed to a certain history of human rights discourse that emerges in the country, i.e., that Costa Rica was conducive to internationalism in its support of UN programmes and its own creation of international approaches. This historiographical element is significant to understanding the immediate difference of Costa Rica from its neighbors, as it stresses a historical Costa Rican commitment to human rights. As Alison Brysk notes, Costa Rica qualifies as a global good Samaritan because its record of human rights promotion is enduring and multifaceted, and it makes a meaningful contribution to globally significant initiatives.[5] Hence, Costa Ricas Good Samaritan status is derived from its fidelity to such initiatives on both a regional and global level. Among its contributions, Costa Rica was involved in the peace negotiations that ended three regional civil wars, while also functioning as the seat for the Inter-American C ourt of Human Rights of the Organization of American States (OAS). On the international level, Costa Rica was involved with international organizations such as serving at the initial prepatory conference for the founding of the United Nations, while also initiating the UN Childerns Fund. These historical contributions of Costa Rica may be construed as establishing a certain tradition within Costa Rica that made it more receptive to the specific demands of the refugee influxes that began in the 1980s. Thus, from an ideological perspective, there was nothing in the Costa Rican state ideology that would be adverse to the refugee; rather, the ideology was committed to human rights from its outset. This tradition may help to understand the initial successes of the Costa Rican programme. In the initial stages of the refugee problem in the 1980s, because of such an international tradition of Costa Rican policy, there was no shortage in the country of foreign and international refugee organizations that participated in the alleviation of the crisis. As Basok summarizes these contributions: A number of government and voluntary agencies have participated in refugee settlement [in Costa Rica]. They include local branches of such international organizations as Caritas, the Episcopalian church, and the YMCA. In addition, refugees themselves formed a number of voluntary organizations in the hope of assisting their compatriots. Apart from providing emergency aid to refugees, the UNHCR has also financed most of the refugee urban projects. Financial assistance has been provided by other international NGOS as well.[6] The plurality of non-governmental actors demonstrated a Costa Rican openn ess to the refugee crisis. Moreover, the possibility of refugees themselves forming aid organizations demonstrated a certain autonomy of the refugee within Costa Rica; despite the loss of nationality that is the refugee displacement, the refugees were granted a freedom to organize and assemble regardless of their anomalous status. These international organizations were also complimented by Costa Ricas own approach, which has been termed as the durable solution model, emphasizing integration of refugees into the country of asylum. As an unpublished UNHCR document describes this durable solution model: Self sufficiency projects are the ultimate aim of UNHCR as they allow the refugees to become independent of emergency assistance and be productively integrated in the receiving community. In the under-developed countries with serious unemployment problems, self-sufficiency projects offer the best alternation for the refugees work problem. For the receiving country, these durable solutions are a contribution to the national economy, particularly the projects which include both nationals and refugees.[7] Costa Ricas commitment to what the UNHCR deemed as the most effective program for refugee crisis further explicates the traditional openness of Costa Rica to international consensus, whilst concomitantly identifying Costa Ricas desired integration of refugees. The UNHCRs evaluation further acknowledges the durable solution as beneficial to the new country of the refugee itself: the influx of labour sources provided a boost to the national economy of Costa Rica. Thus, Costa Ricas commitment to the durable solution model may be viewed as both a commitment to international law and the notion of human rights, whilst also a policy decision how to utilize the refugee crisis for the benefit of Costa Rica itself. Nevertheless, what may be termed as Costa Ricas comprehensive solution, insofar as it incorporated the UNHCRs preferred model while simultaneously allowing for the participation of foreign organizations, nevertheless encountered specific problems. Primarily the non-organizational model’s intervention into the refugee problem was problematic: The results, however, were less than satisfactory. In 1985 it became evident to the UNHCR that less than half of the 152 projects registered with government agencies were still active. Most of the others had failed.[8] The infectivity of the multiplicity of organizations according to the quantitative data of the UNHCR tends to suggest that the approach of a strength in numbers, i.e., multiple organizations engaging in the refugee crisis, was unsuccessful primarily because of a lack of cohesion. Inasmuch as the Costa Rican intent was essentially one of no aid is bad aid†, this ultimate failure speaks to a certain consistency needed be tween organizations, in order better to establish links between groups, and affectively address the grounding problem, that of the refugee him/herself. This bureaucratic entanglement between organizations as detrimental to the refugee is easily discernable from the perspective of the refugee him/herself; because a plurality of organizations exists, the refugee is caught in a bureaucratic system, with no connection to the Costa Rican government itself. This serves as an impasse to the desired integration. This collapse of the various international programs led Costa Rica to attempt a more autonomous policy that would be regulated by the government, therein optimistically hoping to marginalize the previous failures through a centralization of refugee policy. This centralization would enable a consistent discourse of the durable solution to emerge in the Costa Rican space. As Ed Mihalkanin notes After the failure of many of the international and domestic refugee projects, the Costa Rican government tried to integrate refugees into already existing jobs.[9] By Costa Rica directly addressing the problem, this focusing of the remit of refugee policy could better serve the goal of integration: as the refugees are located in Costa Rica, the most efficient means towards integration would be to have the government directly involved in the refugee process by opening economic opportunities to the refugee. This shift reflects a certain fundamental ambiguity at the heart of the general theory of refugee policy. While, prima facie, the plurality of non-governmental organizations that operated in Costa Rica to alleviate the suffering of the refugee may be viewed as a logical step, inasmuch as it emphasizes giving aid to refugees in light of any possible limits to the capabilities of the Costa Rican government, this approach simultaneously suspends the notion of an integration into Costa Rican society. That is to say, if integration is the ultimate goal of Costa Rican refugee policy, such integration can only be engendered by the direct intervention of the government itself, as the government is ultimately congruent with Costa Rica. From this perspective, the collapse of the aid programmes emanating from various international sources may be viewed, in actuality, as a step towards a more direct involvement of the Costa Rican government in the refugee problematic, in terms of a more strident form of integration. This strident form would be necessary if the Costa Rican government would become the primary instrument for refugee aid in the nation, as opposed to the organizational plurality. Nevertheless, after the general failure of the international aid programmes, charity organizations, etc., the new Costa Rican government initiative itself faced various de jure issues that prevented the establishing of a greater remit for refugee aid. As Mihalkanin writes, at times Costa Rican laws actually prevented refugee aid, despite any best intentions of the Costa Rican government. This was the case regarding Costa Rican employee law: â€Å"Yet very few work permits were issued since by law only ten percent of a firms workers can be foreigners.†[10] Thus, the attempt to integrate refugees into the Costa Rican labour force already met opposition in a pre-existing law that marginalized the possibility of foreign workers in Costa Rica. As Mihalkanin notes, despite the intent of both the government to integrate the refugees and the employers’ will to aid the refugees by giving them work, this shared movement encountered a double impasse: the de jure situation of the l abour law, coupled with the de facto situation of employers, whom, although giving refuges a workplace, could not register the workers because of the law. Therefore, any type of de jure integration of these refugee workers who were already working in Costa Rica, was not possible because of the law; despite their labour power, and one must conclude, the desire for this labour source, the separation between the de jure and the de facto situation prevented this opportunity at integration. What occurred then is simply a missed opportunity, a miscommunication between government and private sectors, the latter wholly receptive to the influx of refugee workers, but whose hands were metaphorically tied by the Costa Rican law. This problem of the limits of aid in the sphere of labour relations also extends into the basic human rights of Costa Ricans, such as health care: insofar as health care is available to refugees in Costa Rica, access is limited from both a temporal and financial perspective. As a UNHCR report from 2003 noted, â€Å"in Costa Rica, access to social security services is universal, which means that everyone, regardless of nationality, is entitled to health coverage at a very low cost.†[11] Nevertheless, the caveat here is that â€Å"refugees and asylum seekers are entitled to free healthcare cover during their first three months in Costa Rica.†[12] This leads to an immediate problem facing refugees after the three month period of coverage has elapsed; as Gloria Maklouf Weiss, Director of ACAI (Asociacià ³n de Consultores y Asesores Internacionales), a UNHCR partner in Costa Rica recapitulates this problem: â€Å"some refugees are in such economic hardship that they cannot pay even the very small monthly fees.†[13] Thus, considering the situation of the refugee, the three-month time limit appears insufficient for health care coverage. The securing of an employment opportunity in Costa Rica within this same three-month period would have to be a concomitant aim of a programme; otherwise, the benefits of the Costa Rican health care policy are severely limited by the refugees’ inability to generate capital. On this point, the separation of the spheres of employment and healthcare impede the abilities of the refugee to begin a life in Costa Rica; insofar as employment and healthcare are considered as distinct issues, the benefits of healthcare are separated from the refugee labour force. The weakness therefore in this aspect of the policy is not anticipating the contiguity between employment integration and the possibility of health care. It is examples such as these incongruities in the law and policy of Costa Rica itself that failed to provide a comprehensive programme for its refugees. Thus, whilst Costa Ricas position as a stable country remains attractive to refugees in a time of crisis, various gaps in the system prevented a comprehensive plan to address the phenomenon. QUESTIONNAIRE The data in section 2.0 regarding Costa Rica’s history and policy approach to the refugee crisis only provides one side of the picture. This theoretical analysis of Costa Rican refugee policy, considering the constraints on any discourse of this style, is to be supplemented by a questionnaire submitted to four former refugees in Costa Rica. Whilst the sample size of the questionnaire is admittedly small, the necessity of its inclusion rests on a theoretical significance given to the notion of testimony in an effort to verify or contradict the reading provided of Costa Rican refugee policy. The prejudice of the academic discourse is to be alleviated through the survey presentation; thus, the purpose of the questionnaire is based on a theoretical value attached to testimony and the attempt to provide a more complete picture of the refugee policy of Costa Rica. Because of sensitivity to the time concerns of the participants and because of issues with the English language, the que stionnaire was deliberately simple and limited to four questions. QUESTIONNAIRE ANALYSIS While the sample size is admittedly small, and the nature of the questions direct, the data of the questionnaire would seem to indicate a moderate level of satisfaction with the Costa Rican refugee policy. The option for the refugees in Costa Rica appears to be beneficial; the majority of answerers expressed that integration and employment possibilities were available in Costa Rica, whilst also noting the receptivity of the various refugee organizations to the concerns of the refugees. It is germane to note that the questionnaire deliberately avoided inquiring into the personal history of the participants, in respect for ethics and the privacy of the participants. While this may be construed as detracting from the accuracy of the questionnaire, as it brackets out some of the personal histories involved in the participants, the aforementioned ethical position of protecting privacy was taken as paramount. Rather the questionnaire was to function as a cursory testimonial survey of Costa Rican refugee policy, and thus, while no means a complete account, it does indicate that the Costa Rican option for refugees was more positive than it was negative. CONCLUSIONS The difficulty of the refugee problem primarily lies in the problems it engenders vis-à  -vis the traditional structure of the State, which relies for its function on the notion of citizenry. Inasmuch as human rights become an international imperative, the anomalous appearance of the refugee conflicts with the traditional State model. This tension is however a source for the production of new approaches to the refugee problematic. Costa Rica’s position in the ravaged Central America of the 1980s placed the nation into a role of a paradigm case for refugee policy. The Costa Rican approach must be commended at the outset for its commitment to human rights and the welfare of the refugees. The intent of the Costa Rican policy therefore must be viewed in a positive light. However, the complications that arose from the refugee crisis provide valuable data and source material for the possible improvements of refugee policy. Costa Rica’s acceptance of foreign, international and non-governmental charitable organizations to alleviate the crisis, whilst helping the refugees on the â€Å"terrain†, actually hindered the successful integration of these refugees into Costa Rican society, inasmuch as these organizations, as non-Costa Rican entities, actually created a further distance between the refugee and the Costa Rican state. Moreover, once the majority of these organizations had failed, the Costa Rican government was left to complete the so-called â€Å"durable solution.† The impasses to the â€Å"durable solution† may be traced to employment and economic laws of the Costa Rican state, laws which were unable to successfully meld with the desired â€Å"durable solution.† It is various de jure factors, despite the overall Costa Rican government intent and the intent of the private sector to integrate refugees through employment, which hindered the affectivity of this solution. Nevertheless, Costa Rica is still referred in some academic literature as an excellent example of a refugee policy. This seems to be supported by the anonymous questionnaire that was a part of our research; the questionnaire, while its sample size is admittedly small, nonetheless offers a certain support to the notion that Costa Rica was more effective than not regarding the refugee experience. Thus, whilst there are problematics in the policy of Costa Rican refugee integration, it is nevertheless a paradigm from which numerous positives can be drawn, whilst also providing a better insight into the impasses that may present themselves in such a policy: hopefully these cases, will yield a better approach to the difficult notion of the refugee in the future. BIBLIOGRAPHY Giorgio Agamben, â€Å"We Refugees†, accessed at: http://roundtable.kein.org/node/399 Tanya Basok, Keeping Heads Above Water: Salvadorean Refugees in Costa Rica McGill Queen’s Press: 1993. Alison Brysk, â€Å"Global Good Samaritans? Human Rights Foreign Policy in Costa Rica†, in: Global Governance, Vol. 11, 2005. Martha Honey, Hostile Acts: U.S. Policy in Costa Rica in the 1980s, University of Florida Press: 1994. Ed Mihalkanin, â€Å"Refugee Aid, Displaced Persons, and Development in Central America† in: Refugee Aid and Development, Greenwood Press: 1993. UNHCR, â€Å"Health Fair in Costa Rica gives refugees much needed medical care†, March 6, 2006, accessed at: http://www.reliefweb.int/rw/RWB.NSF/db900SID/EVOD-6MNF3L?OpenDocument> 1 [1] Giorgio Agamben, â€Å"We Refugees†, accessed at: http://roundtable.kein.org/node/399. [2] Tanya Basok, Keeping Heads Above Water: Salvadorean Refugees in Costa Rica, pg. Xvii. [3] Martha Honey, Hostile Acts: U.S. Policy in Costa Rica in the 1980s, pg. 4. [4] UNHCR, â€Å"Health Fair in Costa Rica gives refugees much needed medical care†, March 6, 2006, accessed at: http://www.reliefweb.int/rw/RWB.NSF/db900SID/EVOD-6MNF3L?OpenDocument> [5] Alison Brysk, â€Å"Global Good Samaritans? Human Rights Foreign Policy in Costa Rica†, in: Global Governance, Vol. 11, 2005. [6] Basok, pg. Xviii. [7] Basok, pg. Vi. [8] Basok, pg. Xviii. [9] Ed Mihalkanin, â€Å"Refugee Aid, Displaced Persons, and Development in Central America† in: Refugee Aid and Development, pg. 90. [10] Mihalkanin, pg. 90. [11] UNHCR, accessed at http://www.reliefweb.int/rw/RWB.NSF/db900SID/EVOD-6MNF3L?OpenDocument> [12] UNHCR, accessed at http://www.reliefweb.int/rw/RWB.NSF/db900SID/EVOD-6MNF3L?OpenDocument> [13] UNHCR, accessed at http://www.reliefweb.int/rw/RWB.NSF/db900SID/EVOD-6MNF3L?OpenDocument>

Advanced Project Procurement

With the increased globalization, competition and complexity in global supply chains, more companies have realized that supply chain management is critical to the optimal organizations overall operation. It is not longer just the responsibility of the warehouse manager and logistics director. In the past, many organizations didn’t manage their supply chains they left that up to the suppliers. Usually the supply chain planning, marketing, production and inventory management in most organizations operated as separate departments (Stevenson, 2009). Businesses have recognized the strategic importance and the need for effect and efficient supply chains in operations management (Stevenson, 2009). Assessment As Vice President of Operation my assessment of the battery shortage problem is that SDX are not fulfilling their obligation under the contract. The contract states â€Å"the supplier is expected to achieve a 100 percent service rate† (Benton, p. 456). The current supply of batteries is a 20-day supply this is 70 days short the supply when normal should be a 90 day supply. There has not been a shipment in two months this lead me to believe that SDX are not making Butler a priority shipment. The action taken is to request a meeting with the attorneys to review the contract, because at this point it is a breach in contract. The contract also states that the product prices are fixed for the term of the agreement and a sixty day notice must be given before a price change can occur. SDX did not notify the Butler Operations to alert us of this change. Therefore, this is another breach in contract the SDX company has determine on its own that the contract is null and void. This is not good business practice and creates a problem with Butler’s ability to supply the customer base effectively. Buyer Selection Purchasing involves buying the raw materials, supplies, and components for the organization. The activities associated with it include selecting and qualifying suppliers, rating supplier performance, negotiating contracts, comparing price, quality and service, sourcing. A key and perhaps the most important process of the purchasing function is the efficient selection of suppliers, because it brings significant savings for the organization. The objective of the supplier selection process is to reduce risk and maximize the total value for the buyer, and it involves considering a series of strategic variables. Conclusion In conclusion, focusing on selecting only the best suppliers possible will make a major contribution to the competitiveness of the entire organization. This main task requires careful evaluation, selection, and continuous measurement of the suppliers that provide the goods and services that help satisfy the needs of an organization’s final customers. In other words, once a supplier is selected, the focus must shift from supplier evaluation to the continuous measurement of supplier performance. An organization must have the tools to measure, manage, and develop the performance of its supply base.

Good News Final Question Essay

A young man named Saul stood by and watched as a crowd stoned Stephen.   He went on to be a major persecutor of Christians for a number of years.   One day he was on his way to Damascus, he was blinded by a light and God spoke to him.   He was converted to Christianity and changed his name to Paul.   He made up for his persecution of Christians by telling the â€Å"good news† all over the region. What is the good news?   The good news is that Jesus is the son of God.   He was sent to earth to save the people from their sins.   Those who accept him as their savior will have eternal life in Heaven.   He knew it was true, because God himself told him it was in the blinding light.   The difference it should make in the lives of people in modern society means people should live according to the words God has provided for people to live by.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Paul spent years trying to save people from their sin once he’d learned the truth.   He was taught about God and Jesus.   He taught many to accept the gift of eternal life through the acceptance of Jesus.   Then he wrote many books of the Bible to teach people how to live their lives.   He wrote basic instructions for Christians to follow to be an example for God.   God sent his son to earth for the sole purpose of saving his creation (man) from their sins. He would not choose for anyone to be lost, but he provides humans the opportunity to make the choice for themselves. The life people live on earth is short, for most only about eighty years then there are two possible places to go.   The best choice obviously is the one without eternal torture.   When a person goes to Heaven it will feel like home (familiar, comfortable) (Alcorn, 1999)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Paul learned about God through God himself.   God spoke to Paul through the light on the road.   He then blinded him and gave him specific instructions on what to do.   Paul realized he had been wrong and needed to follow the instructions, because he did this he was not only healed of the blindness, but he received the gift of eternal life. He had no reason to doubt this and neither should those he taught or those still being taught.   Paul taught of God’s love for his people and his forgiveness. He also taught people to continue sharing the good news.   An additional reason to believe the news is true is the hundreds of promises from the Bible, many of which have already been fulfilled and although people fail to keep their promises, God does not (LaHaye and Jenkins, 2003) In order to convince others the news is true, though, his people need to change the way they live in order to set an example.   Just as Saul changed his name to Paul and turned from persecuting Christians to converting people to Christianity, his followers need to live by the words of the Bible.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   How should Christians change the way they live their lives?   It usually does not have to be as great of change as the one Paul made, but it does need to show a change of heart.   God created people to have free will, the ability to make their own choices.   From the moment people are born, they have choices.   They can cry or sleep wet or eat, etc.   As they get older the choices are more difficult.   If they are lucky enough to be raised with religious parents, they are taught the news of Jesus and Heaven from an early age.   Others have to hear it along the way, and like Saul may have several years of making rather bad choices first.   However once the news has been heard and the person has accepted the gift of eternal life, a change must be made. God still expects mistakes since no one is perfect, but an attempt to live as he wants is how Christians teach others.   The first step in this change is to strive to be like Christ being righteous, loving others and overcoming the world (Wiersbe, 1996).   It is popular to wear jewelry that says WWJD, which stands for What would Jesus do?   This is a very important message if people want to live their lives according to God’s word and to teach the good news to others.   When a person stops long enough to consciously ask themselves what Jesus would do in a situation, they would be less tempted to make the wrong choice. Living the kind of life God wants people to live does not mean they have to act extremely different or carry their Bible around with them everywhere they go.   They just need to think they are taking Jesus with them, because if they have truly accepted the gift, they are taking Jesus with them.   He wants his people to be honest and caring.   He wants them to make positive choices for their lives and not get caught up in things that would take their focus off of their ultimate goal (life in Heaven).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   What Paul would tell people is that the news he has to share is the greatest news anyone could hear, because it promises an eternity without pain or sadness and it is a free gift.   All anyone has to do is accept it show it off for everyone else in the world to see.   If people receive a diamond or a new car they can not wait to show it off.   How could they be embarrassed or afraid to show off the world’s greatest gift?   Paul would tell people to believe in God and if they have questions to simply turn to the instruction manual (the Bible), because it contains all the answers.   He would say it should change the way a person lives their lives simply because of the hope it offers in an uncertain world.   Paul heard the news, accepted the news and spread the news.   He would encourage everyone who hears it to do the same. References Alcorn, Randy. 1999,In Light of Eternity, Colorado Springs, Colorado: Waterbrook Press LaHaye, Tim and Jenkins, T. 2003, God Always Keeps His Promises..   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Eugene, Oregon: Harvest House Publishers Wiersbe, Warren W., 1996,Being a Child of God, , Nashville, Tennessee: Thomas Nelson   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Publishers

Important Celebration Finance Chinese Essay Example Pdf - Free Essay Example

Sample details Pages: 6 Words: 1905 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Tags: Celebration Essay Did you like this example? Chinese New Year is an important celebration that necessary been celebrated by all the Chinese in the world. That is more than 1.3 million Chinese around the world (World Popolation 2012, 2013), therefore, Chinese New Year already be treat as a important festival that necessary be celebrated and be include as a public holiday for most of the Asia country such as Malaysia, Singapore, Taiwan, China, Hong Kong, and South Korea (Chinese New Year, 2013). Stock market will be always changes according to the variation of environment such as different holiday on different country will affect the stock price differently. Don’t waste time! Our writers will create an original "Important Celebration Finance Chinese Essay Example Pdf" essay for you Create order Chinese New Year is one of the holidays that will affect the stock market in most of the Asia country such as Malaysia. The stock market exchange will become anomalies on before, during and after the Chinese New Year period, which is known as Chinese New Year effect (Chinese Lunar New Year: Year of the Snake, 2013). Chinese New Year effect that occur in banking industry, may because by the different demand and purchasing on the market in before, during, and after Chinese New Year. For example, before the Chinese New Year is coming, most of the company will award yearend bonus to their employees. Besides, preparation before Chinese New Year such as buying some traditional New Year decoration, food, drink, clothing, shoes, and accessory. That will relatively increase the demand and purchase ability in a period of time (Chinese New Year, 2013). In this research, two stocks in same industry will be selected and the data period for both stock price and market index shall starts from 1st January 2007 until 2nd February 2012. Those will using the up to date data to observe the relationship between Chinese New Year and stock returns. Literature Review January effect or turn-of-the-year effect January effect or called turn-of-the-year effect is a good example of seasonal abnormal in security markets around the world. During turn-of-the-year, certain types of securities produce positive abnormal returns. Stock prices tend to rise during the starting of the last trading day in December and ending on the fifth trading day of January. Rozeff and Kinney (1976) found a seasonal pattern in the New York Stock Exchange (NYSE) index over the period of 1904 to 1974. The average monthly return in January was about 3.5 percent, while the average return in other months was just 0.5 percent. The average return in January appeared to be seven times higher than returns for other months (Lim, Ng, Chong, 2010). Keim (1983) found that the abnormal return is related to the stock market capitalization. As such, small capitalization stocks outperform large capitalization stocks in January, as small capitalization stocks post a higher abnormal return than large capitalization stocks. Reigan um (1983) confirmed that the January effect is a small capitalization phenomenon (Su, Dutta, Xu, Ma, 2011). The Weekend Effect Doyle and Chen (2009) suggested a weekday effect that the day-of-the-week changes over time. As pointed out by Cross (1973), the weekend effect involves negative returns to stocks between Friday and Mondays close has been analyzed in the literature. Several studies have investigated the reversal of the weekend effect. Brusa, Liu, and Schulman (2000) discovered that Monday returns for U.S. stocks were positive and the largest during 1990s. Brusa, Liu, and Schulman (2003) showed that weekend and reverse weekend effects exist in a wide range of industries and that the effects are similar across months. Brusa and Liu (2004) found that the positive Monday returns are concentrated in the first and third weeks of each month, while Brusa, Lui, and Schulman (2005) showed that the reverse weekend effect is correlated with the previous Friday return. Thus, positive Monday returns for large stocks are likely to be observed after positive Friday returns. Seasonal anomalies These seasonal abnormal include holiday effect, day-of-the-week effect, and month-end effect. Most of the interests are seasonality began in 1966 when a market technician, Arthur Merrill, identified an obvious trend of stock prices on certain days of the week, at certain times of the month, and around holiday seasons. Merrillà ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s (1966) work on literature aimed at both identification and explanation of these seasonal irregularities in asset returns. Several studies have studied the securities prices having abnormal returns over the weekend, that is, the day-of-the-week effect. French (1980) shows that US common stocks held over the weekend earn a small negative return (Does seasonality in the Kuala Lumpur Stock Exchange still exist). Gibbons and Hess (1981), and Keim and Stambaugh (1984) also provide empirical evidence that supports this weekly stock return. Ariel (1987) examines US. stock indices returns from 1961 to 1981 and finds stocks appear to earn positive average returns only around the beginning and during the first half of calendar months, and zero average returns during the second half. Holiday effect According to the efficient market hypothesis (EMH) by Fama (1970), stock prices follow randomly and past information cannot be used to predict the future. Therefore, there should be no abnormal returns on special occasions such as holidays. Lakonishok and Smidt (1988) significant return before US public holidays. These pre-holiday returns are two to five times higher than returns before a weekend and 23 times higher than those on normal days. These results are confirmed by several other studies, such as Pettengill (1989) and Ariel (1990). These studies all focus on developed financial markets (Dodd Gakhovich, 2011). A number of studies have also examined the post holiday effect. Lakonishok and Smidt (1988) find insignificant post-holiday returns until 1952 and significant positive returns afterwards. However, Kim and Park (1994) document negative post holiday returns for the UK, and Lee et al. (1990) for Korea and Singapore. The magnitude and statistical significance of pre hol iday returns may vary on specific holidays. Returns prior to religious holidays tend to be higher than returns of other holidays. Chan et al. (1996) show significant pre-holiday effects before cultural holidays in Asia. Specifically, Malaysia sees abnormal returns before Chinese New Year. Chinese New Year effect Gao and Kling (2005) also found a pattern of market return in both Shenzhen and Shanghai stock exchanges with the highest return in February, but it is insignificant as well. The explanation for the seasonal high return in February in China is that February is the turn-of-the-year in China, as the Chinese Lunar New Year usually begins in late January or sometime during February, rather than the calendar year. However, Zhang and Sun (2003) by examining the seasonal anomalies in China, reported that there is no January effect or a February Chinese New Year effect on the Chinese stock market. But a significant and positive March effect was found. The explanation is interesting that they consider that the March effect in China reveals the political nature of financial anomalies in the country. March is the political high season in China and in March political window-dressing is caused by political maneuvers (Chinese New Year, 2013). Methodology In order to examine the impact of C hinese New Year on the stock performance in 2012, we is required to select two stocks in the same industry and also searching for their daily stock prices from the yahoo finance. After that, download the daily market index of Malaysia such as FBM KLCI from the yahoo finance. The industry be chooses is financial industry and the two stocks be chooses is Hong Leong Bank and Public Bank. Next, the data period for both stock price and the market index are starts from 1st Jan 2007 until 2nd Feb 2012. The event window for these two stocks is -5 to +5 it is mean that is lags 5 days and leads 5 days are used for the detection of CNY effects. The event day is set as 0 and the period from 1st Jan 2007 to -6 serves for the estimation period. In terms of the calculation, we are required to estimate the daily returns for the both stocks that chooses and FBM KLCI. Second, regress the stock return against market returns in the estimation period (1st Jan 2007 until 2nd Feb 2012) in order to e stimate alpha and beta coefficient for the companyà ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s stock ( Hong Leong Bank and Public Bank). Third, apply the estimated alpha and beta coefficient in the Capital Asset Pricing Model (CAPM) in purpose to compute the expected return of companyà ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s stock in the event window by using Capital Asset Pricing Model (CAPM) formula. Capital Asset Pricing Model (CAPM) formula as follow: Where: = risk free rate = Beta = return on market Then, subtracting expected return from the estimated return in order to calculate the abnormal return (AR). The formula as following: Where: R = estimated return E(R) = expected return Where: P = Price t = Period of year Analysis Table 1 Event window of Hong Leong Bank Hong Leong Bank Date R(i) R(m) AR 2012/1/16 -5 0 -0.00924 0.002544 2012/1/17 -4 0.0018365 0.006802 -0.00083 2012/1/18 -3 0 -0.0013 -3.2E-05 2012/1/19 -2 0.0091325 -0.00038 0.008799 2012/1/20 -1 0.0090498 0.003849 0.007346 2012/1/23 0 0 0 -0.00045 2012/1/24 0 0 0 -0.00045 2012/1/25 1 0.0178576 -0.00191 0.018021 2012/1/26 2 0.0262024 0.002694 0.024873 2012/1/27 3 0.0085837 -0.00194 0.00876 2012/1/30 4 -0.0172418 -0.00484 -0.01612 2012/1/31 5 -0.0122486 0.005101 -0.01436 Graph 1 The table 1and graph 1are showing the stock price flow of Hong Leong Bank in the pre-Chinese New Year until post-Chinese New Year. According to the graph, we can realize that the stock price is flowing downward before the 3 or 4 days of CNY. In the financial industry, that will be a normal situation will be form before the CNY. This condition may be cause by the large funds transfer before the CNY especially for the company. Norma lly, most of the company will award the yearend bonus to their employees before the CNY (Chinese New Year, 2013). Bonuses usually be given is 2 or 3 month or more than 3 month per person, therefore, there will be a large funds transfer between the company and bank. Besides, for the individual will many increase their funds transfer in order to make some preparation before Chinese New Year such as buying some traditional New Year decoration, food, drink, clothing, shoes, and accessory. That many because by the Chinese New Year effect however that also may be affect other effect such as holiday effect. The magnitude and statistical significance of pre holiday returns may vary on specific holidays. Returns prior to religious holidays tend to be higher than returns of other holidays. Table 2 Event window of Public Bank Public Bank Date R(i) R(m) AR 2012/1/16 -5 -0.00152 -0.00924 0.000724 2012/1/17 -4 0.00304 0.006802 0.000778 2012/1/ 18 -3 0.004542 -0.0013 0.004557 2012/1/19 -2 0.001509 -0.00038 0.001264 2012/1/20 -1 0.003012 0.003849 0.00158 2012/1/23 0 0 0 -0.00035 2012/1/24 0 0 0 -0.00035 2012/1/25 1 0.001503 -0.00191 0.001687 2012/1/26 2 0.005988 0.002694 0.00488 2012/1/27 3 0.002981 -0.00194 0.003176 2012/1/30 4 0.005935 -0.00484 0.006944 2012/1/31 5 0.001478 0.005101 -0.00031 Graph 2 The table 2 and graph 2 are showing the stock price flow of the public Bank in the pre-Chinese New Year until post-Chinese New Year. For the stock price flow of Public Bank we can realize that there are pretty similar with the Hong Leong Bank, however this similarity may because by the Chinese New Year period effect. However the stock price of Public Bank may also be affect by the announcement that announce before the CNY which is on January 11, 2012 (Gerenal Announcement, 201 2). This announcement can be categories as a general effect and that will affect the performing of the stock market. General effect means that, this effect may be usually happen in any time anyway. Conclusion According to the two tables and graph above, we can realize that both of the graphs are showing the similes flowing in before, during and after the CNY. However, that is some different between this both stock that choose specially in middle of the CNY. In the middle of the CNY, the stock price of both bank are starting going upward. The stock price of Hong Leong Bank are direct climbed to a high point and then slipped. Public Bank stock price are starting going upward and slipped a little bit, after that direct climbed to a high point and then slipped. That may be related to the announcement that Public Bank announce on January 11, 2012.