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Essays era good feelings dbq

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The Era of Good Feelings (Story Time with Mr. Beat)

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Essays era good feelings dbq

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Business Studies Coursework. Feelings Dbq. (Edexcel) Watch. Career Goals. I was just wondering if anyone could check out my coursework for feelings Business Studies which I have checked and great introduction essay give me some feedback? Possibly tell me the marks I got out of essays, 40 and/or grade? span Follow 2 followers 0 badges. Nursing Career Goals. Dude, if you're doing edexcel business studies, it's meant to era good, be a controlled assignment! I had to rural in india, do my edexcel business studies controlled assessment on essays, rise in sat essay scoring, price of era good feelings, wheat and could only be done in great, class. Dbq. I mean, taking it home on rural in india research paper, the sly isn't really a problem because, who knows?? span Follow 0 followers 0 badges. span Follow 0 followers 0 badges. Essays Era Good. I was just wondering if anyone could check out great expectations, my coursework for Business Studies which I have checked and era good dbq give me some feedback? Possibly tell me the rural in india, marks I got out of era good dbq, 40 and/or grade?

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Ovid Art Of Love Essays and Research Papers. The Art of Love Framing for a Misogynist The poetry of Ovid exemplified in era good feelings dbq The Art of . Love is one of the only examples of the contemporary social behavior exhibited during the rural paper, time of dbq, Rome. Ovid writes about social activities, proper style, women, and how to essay hopeful teaching toward, obtain them. Feelings Dbq! Through Ovid’s perspective, there are three different ways to consider a woman. These three views include relating a woman to a game, a beautiful treasure, and as a means to assert social status. Comparatively, Andreas Capellanus. Andreas Capellanus , Childbirth , Gender 1245 Words | 4 Pages. Ovid : The Art of Love There have been numerous questions that have always confused mankind since the early days. . Hopeful! The significance of life, how everything functions, is there a god of era good, every single topic that still confuses humans. Career Goals Essays! Although those concepts create a good argument, a topic that is time consuming in feelings dbq our lives is how to pick up on women. A main example of how old that problem has bothered men is in expectations introduction the book of Ovid : The Art of Love . We independently come up with our own style of picking.

English-language films , Flirting , Guy 1633 Words | 4 Pages. Is Love an essays era good dbq Art ? Is love an art ? Then it requires knowledge and effort. Or is love a . pleasant sensation, which to experience is a matter of chance, something one falls into if one is lucky? This little book is based on sat essay, the former premise, while undoubtedly the majority of people today believe in essays era good feelings the latter. Advertising Research Paper! Not that people think that love is not important. They are starved for it; they watch endless numbers of films about happy and unhappy love stories, they listen to era good feelings dbq, hundreds of teaching toward writing writing, trashy songs. Interpersonal relationship , Love , Lust 1497 Words | 4 Pages. Art, Love and Transformation: a Mirror of Classical Literature. 2560 Leon Guinto Street, Malate, Manila Art , Love and Transformation: A Mirror of Classical Literature By: Katherine F. . Jaramilla BSP 201A January 8, 2013 Professor: Miss Bethel Anne Batallones Art , Love and Transformation: A mirror of Classical Literature Publius Ovidius Naso was a known Roman poet. He was also recognized as a canonical poet of Latin literature. In his works, wide ranges of meters were used.

Ovid believed that love can transform or change us, be it in good or. Ancient Rome , Julius Caesar , Latin 981 Words | 3 Pages. How love has been portrayed in dbq art What can go wrong with an artwork of love ? Now and days love has . such a power effect on people. Every day people do the craziest things because of essays on strangers, love . There are also different types of love , the love in family, friends, or a hobby. Love has been around for a good long while and its not going anywhere anytime soon. Even back then artists would make beautiful sculptures and paintings of the feeling of essays era good feelings, love , and today is the day you will see how artists put love. Expressionism , History of painting , Jean-Honore Fragonard 903 Words | 3 Pages. Ovid , Metamorphoses During the time of Augustus, Greek literature and myths were highly influential throughout the Roman world.

In . particular, Ovid , a Roman poet born in 43 BC, retells and adjusts much of Greek mythology in a humorous yet personal style to great expectations, suit himself and his audiences (Plant 2012, p. 298). A close comparison of Ovid and Hesiod calls for similarities and differences in their accounts of the human races. Essays! In Book I of the Metamorphoses, Ovid accounts four “Ages of Humankind”. Ancient Rome , Daphne , Gian Lorenzo Bernini 1331 Words | 2 Pages. Amores by Ovid: Use of the Domina Amoris and career goals, Servitium Amoris. Ovid’s use of the domina amoris and servitium amoris as the foundation his Amores was not unique, but rather reflected a theme created in the time of Plato. Essays! . Advertising In India Paper! Plato wrote of the idea of era good feelings dbq, a “ love lady” in his The Symposium.

Ovid was just one of the many writers in on strangers the history of the Western literary tradition to utilize this construction. From his Corinna to Dante’s Beatrice to don Quijote’s Dulcinea del Tobosa, the essays feelings dbq, domina amoris has constantly been present and has always remained a key theme in the. Don Quixote , Dulcinea , Fictional Spanish people 1156 Words | 3 Pages. Transformations in Ovid Transformations from one shape or form into another are the central theme in Ovid #8217;s . Metamorphoses. The popularity and timelessness of expectations essay, this work stems from the manner of era good feelings dbq, story telling. Ovid takes stories relevant to his culture and rural paper, time period, and weaves them together into one work with a connecting theme of transformation throughout.

The thread of humor that runs through Metamorphoses is consistent with the satire and commentary of the work. The theme is presented. Apollo , Daphne , Gian Lorenzo Bernini 1393 Words | 4 Pages. ? Love and The Consequences The compilation of era good feelings dbq, stories in Ovid's Metamorphosis are unlike any epic of it's time. They all fit together to . form one huge unifying story with a lot of thesis 2.0 troubleshooting, different meanings and themes. Feelings Dbq! Throughout the entire epic, one reoccurring theme that is prevalent to me is the agony of essays, love . The tortures of love , if you will, and the resulting effects of essays, that adoration towards another. Love is one thing that remains consistent throughout the entire epic. It doesn't arise as just.

2009 albums , Emotion , Epic poetry 1776 Words | 5 Pages. For a work of art to be considered a portrait, the artist must have intent to portray a specific, actual person. This can be communicated . through such techniques as naming a specific person in hopeful teaching theory toward writing the title of the work or creating an image in which the physical likeness leads to an emotional individuality unique to a specific person. While these criteria are not the only ways of era good feelings dbq, connoting a portrait, they are just two examples of how Sherman carefully communicates to the viewer that these works are not. Anarcho-punk , Crass , Post-punk 1149 Words | 3 Pages. from interpersonal affection (I love my mother) to pleasure (I loved that meal). It can refer to an emotion of a strong attraction and . personal attachment.[1] It can also be a virtue representing human kindness, compassion, and affection—the unselfish loyal and sat essay, benevolent concern for the good of another.[2] It may also describe compassionate and affectionate actions towards other humans, one's self or animals.[3] Ancient Greeks identified four forms of love : kinship or familiarity (in Greek. Attachment theory , Friendship , Human bonding 942 Words | 4 Pages.

Love is essays era good feelings dbq, a variety of different feelings, states, and on strangers, attitudes that ranges from interpersonal affection (I love my mother) to . pleasure (I loved that meal). It can refer to an emotion of a strong attraction and personal attachment.[1] It can also be a virtue representing human kindness, compassion, and affection—the unselfish loyal and benevolent concern for the good of another.[2] It may also describe compassionate and affectionate actions towards other humans, one's self or animals.[3] . Attachment theory , Friendship , Interpersonal relationship 1862 Words | 6 Pages. (Singapore) Art , culture, and society; these three elements are closely linked. These three elements affect one another in one way or another. Era Good! . There is often a conflict of interest between the artist, the audience, and the government body. The artist’s aim is to express art freely. The audience’s aim is to great introduction, view art in era good feelings dbq forms that are not offensive to them. The government’s aim is to mitigate the conflict of interest between the two parties by implementing policies and restrictions to art pieces that. Aesthetics , Art , Artist 1171 Words | 3 Pages. Metamorphoses, by Ovid , as the theory writing, poet tells of the god Jupiter destroying all man kind (except for Deucalion and Pyrrha) because of the actions . of one, Lycaon. Ovid describes Jupiter's destruction as an effort to protect all the gods who do not live in feelings the heavens.

However, Jupiter's actions are not justified in any way presented in the book. In the story there are multiple cases where Jupiter and other gods cause danger and torment on thesis 2.0 troubleshooting, the lower class of gods. Examples of rape, intervention of true love , and god’s. Daphne , Greek mythology , Human 1286 Words | 4 Pages. schoolmates from era good feelings dbq, Ateneo Municipal. | Plaza de Cataluna | * Where his friends held him a welcome party in Barcelona. | El Amor Patrio | * . Love of thesis 2.0 troubleshooting, Country * Essay he wrote when he was 21. * First nationalistic essay | Sacrifices | * Youth * Pleasures * Splendor of genius * Life | Laong Laan | * Pseudonym he used when he wrote Love of Country. | Tierra Extranjera | * Term he used to refer to Spain. | Universidad Central de Madrid | * Where he enrolled in era good feelings philosophy.

Anthropology , Ateneo de Manila University , Jose Rizal 1253 Words | 4 Pages. The Art of rural advertising in india, Rhetoric in the Metamorphoses. The Art of era good, Rhetoric in the Metamorphoses Among the numerous passages covered in The Metamorphoses of Ovid , there are many . Nursing Career Goals! stories regarding the origins of the Earth, the activities of the Roman gods, and essays era good dbq, some of Rome’s significant rulers and sat essay, founders. Dbq! Within each of these stories, Ovid injects an essays overall idea that can be taken away from the essays era good feelings, text. Essays! Many of these overall ideas are themes and lessons, but also there are arts that are illustrated to the reader such as poetry, singing, or weaving. . Achilles , Greek mythology , Homer 1446 Words | 4 Pages. The English word love can refer to a variety of different feelings, states, and attitudes that ranges from interpersonal affection to . pleasure . It can refer to an emotion of a strong attraction and personal attachment. It can also be a virtue representing human kindness, compassion, and affection—the unselfish loyal and benevolent concern for the good of another.

As well, it may describe compassionate and affectionate actions towards other humans, one's self or animals. Feelings Dbq! Four forms of interpersonal. Attachment theory , Friendship , Interpersonal relationship 2133 Words | 6 Pages. tale of the ages amongst the nursing, two storytellers as well. These similarities and differences allow the deciphering of the tales to hold differences in essays era good dbq the value . of the sat essay scoring, ages of mankind. Raising key similarities in essays era good the Gold, Silver and Bronze Ages both Ovid and Hesiod tell a different meaning on goals, how the ages that precede them affect the rest of mankind. Era Good! The Heroic and Iron Ages are important in the continuation of both stories, the tale of creation and mankind, and the view of the world to the Greeks. Ages of Man , Bronze Age , Copper 944 Words | 3 Pages. ?Neidalina Ortiz Composition II Instructor Candace Peters Love Write your final draft analysis essay that evaluates a . specific concept (such as love , competition, or fame). Use the guidelines shown in rural advertising research paper Chapters 5 and 6 to develop your ideas and shape your essay. Feelings Dbq! You should include 3-5 outside resources in your assignment.

Love is defined as a deep tender, ineffable feeling of affection and 2.0 troubleshooting, solicitude toward a person, such as a rising from kinship, recognition. Affection , Emotion , Friendship 597 Words | 3 Pages. circus. Essays Era Good Dbq! Waylon exhibits __________ while Mike exhibits __________. 2.0 Troubleshooting! a. prejudice; discrimination b. discrimination; prejudice c. Essays! subtyping; . prejudice d. Essays On Strangers! subtyping; discrimination 4. Karen's roommate hung one of her paintings from art class in their dorm room. Era Good Dbq! Initially, Karen hated the painting and thought it was hideous.

But by the end of the year, Karen had grown to like the painting and even wanted to take it home with her. The best explanation for Karen's change in attitude. Attitude change , Elaboration likelihood model , Interpersonal attraction 1794 Words | 7 Pages. Love : What It Really Means What is love ? When someone tells you that they love you, how are you supposed to theory toward writing, . respond? There sometimes seems to be no way to decipher the implication behind the words I love you. When one loves someone or something, to what extent is their desire? It would be ideal if the English language could have more words for love . Love is feelings, so complicated in and of itself, that even if you were to have different words; it would still be challenging to clarify. Because the English. Agape , Emotion , Friendship 905 Words | 3 Pages. is the theme of love . On Strangers! Philia, Eros, and Agape are the three types of essays era good dbq, love present in the play and rural research paper, are what represent the theme . of love . These three types of love , Philia, Eros, and Agape are expressed by the different characters in the play. Feelings! The expression of the thesis 2.0 troubleshooting, theme of essays, love in the play is scoring, not just there by accident; William Shakespeare put it in this comedic and essays, romantic play with a purpose.

Philia is expectations essay, one of the three kinds of love expressed in the play. Dbq! The type of nursing career essays, love that Philia represents. Agape , Friendship , Greek words for love 1173 Words | 3 Pages. Love plays a significant role in every human beings life. There are many different forms of love in a person’s life. A person . Era Good! feels a different love for their friend then they do for an intimate lover. They feel different love for their families and parents then they feel for animals or objects. An individual usually learns what love is from a young age, and it progresses as they get older. Some people have trouble experiencing some forms of love because they feel like they are unable to due to past. Agape , Friendship , Interpersonal relationship 2175 Words | 6 Pages. Running Head: LOVE What’s Love Got to Do with It?

Kathryn Barr Dr. Salome Dubenetzky PSY 301 . January 7, 2013 LOVE Attraction is defined as a person or thing that draws, attracts, allures, or entices; a characteristic or quality that provides pleasure, an attractive feature. Initially because of essays, this attraction two people who are mutually attracted will begin or a friendship. In the essays era good, beginning of a relationship love is strong and it. Interpersonal attraction , Interpersonal relationship , Love 1594 Words | 5 Pages. was inspired by 2.0 troubleshooting, that relationship. Dbq! “The Passionate Shepherd to His Love ” by Christopher Marlowe is most likely the most famous pastoral poem of . the essay teaching toward, carpe diem or “seize the essays feelings, day” style. Its inspiration was most likely to convince a girl that life would be beautiful and expectations, filled with pleasures if she would be with him—his goal being seduction. Ever since the essays era good feelings, beginning of nursing career goals essays, time, males and females have been looking for someone to era good dbq, love , someone they van spend their entire life with; and someone to accept. Christopher Marlowe , English-language films , Friendship 1096 Words | 3 Pages.

?Introduction – Part 1: In writing this statement I will explore the ideas and customs associated with what love is known to essays on strangers, be, with reason . and argument. I will mostly be analyzing romantic love , in relation to lovers. However with too much reasoning and era good, argument comes confusion, so more argument than reasoning will be my approach. If you are not open to the negativities of love then my opinion has no value to you. For the positives of rural advertising in india research paper, any topic are pleasing whether or not one can assimilate. Idea , Interpersonal relationship , Irrationality 1253 Words | 3 Pages. non-living object.

That feeling is love . Era Good Feelings Dbq! However, when one is advertising paper, forced to define love , he or she often turns to era good dbq, romance to find the essays on strangers, . meaning. Essays Era Good Dbq! It is described to be everything pink and pretty, full of hearts, roses, cuddly stuffed animals, chocolates, kisses, and hugs. Love is also expressed as the butterflies in the stomach, hair on essays on strangers, the back of the neck rising to the occasion, hesitant lump in the throats, giddiness in the eyes, and fireworks in the hearts. However, love exists outside the essays era good feelings, realm of romance. Emotion , Love , Outline of self 1281 Words | 4 Pages. LOVE The uphill downfall.

What is essays, love ? Is it scientific, humanistic, or is it holistic? We may never know, but we can . know what causes it and how it is created. Everyone wants an feelings insight on how to keep the firing passion in their relationship, but what motivated me to learn more about this topic was my past relationship experiences; I wanted to figure out how I fell in thesis love and have an idea on why things ended the way they did. Of course, there is no exact scientific reason why things. Emotion , Greek words for love , Interpersonal relationship 1256 Words | 4 Pages. Art 1030: ART APPRECIATION Dr. Carol Ventura Study Guide for First Test Spring 2015 You do not have to know the feelings, names of scoring, . artists or their work for this test. The first test will be multiple choice and will cover terms and era good feelings dbq, media only. These words are from the text, lectures, and videos.

I suggest you make a flashcard for each word with the word and a photocopy of the example from the book (if there is rural advertising paper, one) on essays, one side and the meaning and essay theory, context on the other. When you study with the flash cards. Arch , Barrel vault , Color 487 Words | 2 Pages. ? Is It Love ? Jazmine M Hawkins Georgia Perimeter College Abstract This paper explores the findings of . multiple researchers’ theories of love ? It breaks down what we can be classified as passionate love and compassionate love ? What does love have to do with your attention span? Some researches define love scientifically saying that love is a production of a mixture of hormones and essays era good, chemical reactants while others say love is self-defined and can only be judged. Attachment theory , Developmental psychology , Human bonding 1362 Words | 4 Pages. Love Love is something that most humans look for in life because it comes with one of the greatest amount of pleasure a . human being can experience. The love for our mother and our entire families is one of the first thing a baby feels and as the years goes by we know that life is about two big thing: success in work field and being able to find people that will love you for who you are.

Being able to love is one of the most important thing because it can lead to a great amount of trust and. English-language films , Family , Homosexuality 2815 Words | 7 Pages. one-word topic Love . Goals Essays! This piece was written in 45 minutes (actually I had more time, I but I wasted too much time - some of it unnecessary - . to think of what to write), so mind you, I was in quite a hurry. Personally, I don't think it's that good. I really wish they gave us more time for dbq, this written paper for English. Could've produced a better essay with more time, I think. So anyway, here you go.

Comments will be appreciated. Love (SPM Trial Exams Essay) by essay hopeful toward writing, Lee Zhi Wei Love . It is the one. Doubt , Heart , Human 959 Words | 3 Pages. “ Love for essays feelings dbq, another often hides a greater love for on strangers, oneself” By a close comparison of essays, your two texts, discuss the great expectations introduction, representation of . sex and seduction. In both Milton’s ‘Paradise Lost’ and Ford’s ‘Tis Pity She’s a Whore’ sex is represented as a catalyst for essays era good dbq, sin. The love which is promised by many of the central characters in the poem and the play often has a falsehood and is used as a facade for thesis 2.0 troubleshooting, the character’s true egotistic needs within.

One can see a falsehood in feelings dbq Giovanni’s admitted love for. Adam and great expectations introduction, Eve , Garden of Eden , Interpersonal relationship 1102 Words | 3 Pages. people would not imagine how Valentine’s day affect America and other countries from feelings dbq, economical to emotional. Valentine’s day is easy to nursing career goals, recognize for essays era good feelings, its . many symbols: cupid which represents an angel who helps mates get together or fall in love , hearts, arrows, love cards, letters and nursing, the colors white and red representing purity and feelings dbq, blood.(Thompson) There are many legends about the origin of Valentine’s day, but there are two that are more realistic and important. This holiday started in one place and. Chocolate , Love , Lupercalia 1480 Words | 4 Pages. February 1st 2012 True Love and its Obstacles Love is one of the most important things to the survival of the human race, . because it allows humans to work together and connect with each other. To live life without love is career essays, not living a fulfilled life. Finding true love may seem like the difficult part of essays, a relationship with another human being, but the obstacle that hinders the relationship coming together is the most difficult part. Rural Advertising! My essay will explore the theme “true love ” and essays feelings, the obstacles that.

Brothers Grimm , Cinderella , English-language films 1739 Words | 4 Pages. different attitudes towards love ; I have selected four poems that consider this issue and show the poets true thoughts on love . . Two of my texts, ‘Leaving Prince Charming Behind,’ written by Karlo Mila and ‘Advice to a discarded Lover,’ written by Fleur Adcock, both look at essays on strangers, the theme of love and past relationships in a negative and era good, quite a depressing manner. 2.0 Troubleshooting! Whereas, the other two texts deal with both the poets sweet, happy and more realistic attitude towards the power of true love . ‘To the girl who stood. English-language films , Fairy , Fairy tale 1201 Words | 3 Pages. The Art of Loving “The art of loving”, written by an American psychologist Erich Fromm in essays era good 1957, mainly discusses about three . aspects: the reasons of great introduction, love being an art , the theory of love , and the practice of love . He thoughtfully explains that an art of era good, loving requires many effort and sat essay scoring, knowledge, comprehensively analyzes the theory of love , and specifically introduces the ways of essays era good feelings dbq, practice the art of thesis 2.0 troubleshooting, loving. Even if the work is done for about fifty years ago, there still have many remarkable.

English-language films , Erich Fromm , Frankfurt School 1802 Words | 5 Pages. ?Grozen Benjelyn M. IV BSBA Project exam: reflection paper Ayala museum is the home of the essays era good dbq, Philippines art , history and culture. It . is where collections of iconic paintings, historic dioramas and historic costumes are displayed. Essays On Strangers! Ayala museum is essays era good dbq, inspirational and to observe the 2.0 troubleshooting, vintage Filipina costumes. I visited the essays era good, ayala museum with my tree classmates before our group came to great essay, museum some places in ayala are so interested so my classmates and me taking pictures.

It is my first time. Ayala Corporation , Bank of the era good feelings dbq, Philippine Islands , Jaime Augusto Zobel 1759 Words | 5 Pages. communicate and if it has improved or been detrimental to the art of communication. In the great introduction essay, 21st century, the human race has more ways to . communicate than ever before. This includes the use of the era good feelings dbq, internet, the mobile phone, television and radio, as well as written and spoken communication.

With all these methods, why do some argue that the art of communication has been lost? This essay will discuss how the internet has affected this art but it has not been lost but simply modified. Communication. Communication , History of the Internet , Instant messaging 1060 Words | 4 Pages. were a truthful man, he would haveinformed me that the lumber not included in expectations introduction essay the account werebad”. 17. Feelings Dbq! Rizal Challenges A French To A DuelWhen Carnicero . Career Goals! heard thisdispleasing news, he informedMr. Juan Lardet that Dr.Rizal was an expert inMartial Arts speci?cally inthe ?eld of Fencing and PistolShooting.Mr. Juan Lardet gave it athought and later apologized.Dr.

Rizal and Mr. JuanLardet’s relationship becamestable afterwards. 18. Rizal And Fr. SanchezFr. Sanchez was the Jesuitpriest who taught Dr. Andres Bonifacio , Ateneo de Manila University , El filibusterismo 1680 Words | 5 Pages. ? Love Everyone has felt love at one point in their life. Dbq! It could have been between two people, a pet or even a non-living . object. You could have experienced it as a little crush or the real thing as a whole.

Some people sometimes will go a lifetime without finding that one person for them, but then there’s other times people fall in and out of introduction essay, love like it’s nothing to them. You can love many things but the love between two people is priceless. Different types of people experience different. English-language films , Friendship , Interpersonal relationship 1262 Words | 4 Pages. ?Jalissa Goolsby Professor Rhodes English 29 January 14 Fatherless Love The vision of my Fatherless Love have . Dbq! became more and expectations introduction, more of a blur to my past childhood memories of not having him there in essays feelings my life as a young girl. This is my life not a story I always wanted to be daddy’s girl growing up. Not having my father there when I became mature or when I had my first break up played a major impact in my young life. ‘‘Dance With My Father’’ by Luther Vandross is a song that is very. 2006 albums , American films , Emotion 1309 Words | 4 Pages. disguised as a feast Rollin’ in the Rolls-Royce Corniche Only the doctors got this, I’m hidin’ from police Cocaine seats All white like I got the whole . thing bleached Drug dealer chic I’m wonderin’ if a thug’s prayers reach Is Pious pious cause God loves pious? Socrates asks, “Whose bias do y’all seek?” All for Plato, screech I’m out here ballin’, I know y’all hear my sneaks Jesus was a carpenter, Yeezy, laid beats Hova flow the Holy Ghost, get the on strangers, hell up out your seats Preach [Frank Ocean] . Christianity , Holy Spirit , Jay-Z 562 Words | 3 Pages.

The Characterization of essays era good, Medea in essay hopeful theory writing writing Euripides and Ovid. Heroides XII: Medea to Jason by Ovid Both Fifth century B.C. playwright Euripides and Roman poet and dramatist Ovid tell the dbq, . story of Jason ditching Medea for another woman; however, they do not always share a perspective on nursing career goals essays, the female matron's traits, behavior, and purpose. Euripides portrays a woman who reacts to injustice by beginning a crusade to avenge all who harmed her which she is prepared to see through even if it means resorting to the most contemptible methods. Ovid , on the other hand, tells. Argonauts , Colchis , Emotion 1553 Words | 5 Pages. you in Drama, you have been the one person I really couldn’t stop thinking about.

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It is something permanent and is very difficult to essays era good feelings dbq, cover . up or remove. Sat Essay Scoring! It can be in a form as simple as a pen caressing a piece of paper or as complex as a needle drenched in ink, piercing through skin to essays era good, form a different kind of art , known as a tattoo. Hopeful Teaching Theory Toward Writing! As times are changing, tattoos seem to be getting a lot more common in my generation compared to previous ones. As tattoos become more popular, so do the criticisms. Family , Permanent makeup , Tattoo 1508 Words | 3 Pages. president in the history of the United States.

He had a strong moral vision of where his country must go to preserve and enlarge the rights of all her . people, but he was also a good man with a strong sense of essays, character and a great discipline in the art of law; and he sought to continue the great and mighty legacy of the Constitution. Hopeful Teaching Theory Toward Writing! He believed that the Founding Fathers had drawn up the Constitution without the mention of slavery because they felt that it would later die of a natural death. . Abraham Lincoln , American Civil War , President of the United States 1112 Words | 3 Pages. and the poor have to submit to it. 3. Religion and moral- Religion is only represented by padre Estaban who cares about men’s souls but the essays era good feelings, majority of . the characters in the novel such as Galante, Gaspar, Andujar, Deblas, Marta lack compassion, love , and sat essay scoring, good principals. 4. Inheritance- Juan del Salto works very hard in essays feelings dbq order to provide an education for his son and leave him well off for the future.

5.)The complexity of silence- This theme means that you cannot always tell the truth because. Puerto Rico 1439 Words | 4 Pages. What is considered art has been a controversial question for many years in thesis history and today. There are various forms and types of era good feelings dbq, . art . On Strangers! Because art is very complex and diverse, it is feelings, viewed and thesis, conceptualized in essays feelings many different ways. Nancy G. Heller states even though a type of artwork is hard to understand, it’s considered art , and artwork that people don’t understand shouldn’t be disregarded from other types of art . She feels as though people shouldn’t be intimidated by artwork that’s hard to understand. Art , Cubism , Present 1296 Words | 4 Pages. work was also included in advertising in india the Best American Short Stories collections for 1946, 1948 and essays feelings, 1952.

Perhaps Bradbury's most unusual honor came from the advertising in india, Apollo . astronaut who named Dandelion Crater after Bradbury's novel, Dandelion Wine. Bradbury's lifetime love of cinema fuelled his involvement in many Hollywood productions, including The Beast from 20,000 Fathoms (a version of his story, The Fog Horn), Something Wicked This Way Comes (based on his novel,) and director John Huston's version of essays feelings, Moby Dick. Dandelion Wine , Fahrenheit 451 , Leigh Brackett 1683 Words | 6 Pages. ?The Magic Flute Review Kristyn Davis Dr. Eubanks November 28, 2011 Liberal Arts “ Art is one way whereby man seeks to . understand the world.”.

This is a quote from Oscar Brockett’s book, The Essential Theater. Over the weekend the Ouachita Baptist University: School of Fine Arts , division of music put on introduction essay, an opera entitled The Magic Flute. Originally composed by Mozart, the students in the production did an excellent job of bringing his composition to era good, life. Going into the opera, my expectations. Art , Music , Opera 794 Words | 4 Pages. medium one chooses to use to express oneself determine whether or not it is truly art ? While digital artists’ artistic ability is often . Sat Essay! questioned and the credit is given to the computer being used, the art itself springs from the mind of the essays era good feelings dbq, digital artist.

I can say this with personal fervor: Digital art is nursing goals, truly in essence a form of essays feelings, art that merely takes advantage of the innovations of modern technology. Digital Art isn’t computer-generated. While it might involve using tools offered by essays, specialized. Art , Computer , Computer graphics 1392 Words | 4 Pages. ? Art Essay Draft The nude has changed dramatically throughout time in terms of its role in the art world. It has been used to era good dbq, . Essays On Strangers! portray a person’s power and their weakness, the essays era good dbq, way they see themselves and the way others see them. Nursing Goals Essays! The majority of nude artworks are of the era good feelings dbq, female nude, as highlighted by John Berger, ‘men look at women, women look back at themselves being looked at.’ Vanessa Beecroft, a contemporary artist deems to thesis, challenge the way society views the nude in both high art and dbq, everyday. Aesthetics , Art , Female 986 Words | 3 Pages. Alexis Cota September 14, 2013 LOVE IS LOVE People live in a world where, nowadays, anyone will be judged for any little . thing they do.

It may be the way people look, act, smell, walk, talk, dress, and even by liking the same sex as them. Nothing in the world will ever please society. People are supposed to be free to love anyone they want. Yet, society makes it so hard for anyone to hopeful toward writing writing, try, and be with the same sex. Either it will turn out to be their closest friends, or family who will end up. Bisexuality , Gay , Homosexuality 1033 Words | 3 Pages. The Art of Loving is a slim volume of only a little over a hundred pages yet it packs one hell of a punch. Written some fifty years ago, here . is a more damning indictment of modern society than anything the existential crowd of Bertrand Russell, Albert Camus or Jean Paul Sartre could cook up. The Art of Loving is a very concise and pithy read, it is feelings dbq, written in the terse lucid style of gospel, each word in each line serving a critical function.

This is not a writer's style nor is a critic's but that. Erich Fromm , Frankfurt School , God 1588 Words | 4 Pages. Naomi McFarland Out of 2.0 troubleshooting, Class Essay #2 Final Copy Suffering through Art Art speaks and shows us the dbq, reality of people by . expressing human behavior, thoughts, ideas and emotions through a piece of work. As Google Definition’s says, “ Art is the works produced by such skill and imagination.” Art has the ability to research, express the painful truths that exist in the world and its reality. Feelings Dbq! No matter how painful it might be to have a legitimate knowledge about the truth, I believe people need to see. Art , Earth , Emotion 1857 Words | 5 Pages. The Marketing of Art Part 1: Target Market and essay teaching theory toward writing, Competition When determining a target market a marketer must first research their product and . the dbq, consumers who purchase the product, then decide what type of nursing goals essays, consumer would the marketer prefer to attract to the product they are marketing (Guille, n.d.). Era Good! The product that was chosen for this class was Art . To determine our particular target market we must get to know our product.

Britannica Encyclopedia defines art as, “the use of skill and imagination. Advertising , Art , Arts 1219 Words | 4 Pages. Upon reading Erich Fromm's The Art of Loving, I gained a better understanding of what love really is. Fromm's book puts . love into perspective. He begins with several facts with regards to the attitude in which people treat love . They are the problems of how to be loved, the object to love as well as the nursing career, confusion between the initial experience of falling in love and the permanent state of being in love , which had a great impact on me, as far as thinking about what love is. Strangers meet, they. Father , Feeling , Interpersonal relationship 1185 Words | 3 Pages. ? Art is life, it is essays, beauty, it is emotion, it is thesis, you, it is me, it is everything.

Art defines all that we are, and all that we . Era Good Feelings Dbq! could become. Art is of the past and of the future, of the influences of on strangers, our daily lives, of essays era good feelings, our pasts combined with who we are today. Art is an indescribable joy, an expansion of the mind, body and soul. We are art , every last individual of the rural advertising in india research paper, human race. Art comes in the form of music, dance, theater, painting, drawing, blowing, throwing, and even in the math equations.

Aesthetics , Ancient Egypt , Art 2290 Words | 4 Pages.

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capm vs apt essay The Capital Asset Pricing Model ( CAPM ) . was first developed by William Sharpe ( 1964 ) . and subsequently extended and clarified by John Lintner ( 1965 ) and era good feelings Fischer Black ( 1972 ) . Four decennaries after the birth of this theoretical account. CAPM is still accepted as an appropriate technique for measuring fiscal assets and retains an of import topographic point in both academic bookmans and finance practicians. Scoring? It is essays feelings dbq, used to gauge cost of capital for houses. measuring the public presentation of managed portfolios and besides to find plus monetary values. Since the great expectations essay, origin of this theoretical account there have been legion researches and empirical testing to measure the strength and era good feelings the cogency of the theoretical account. Several fluctuations of the theoretical accounts have been developed since so ( Wei 1988. Stein. Fama #038; A ; Gallic 1993.

Merton 1973 ) . The Arbitrage Pricing Theory of Capital Asset Pricing formulated by Stephen Ross ( 1976 ) and thesis Richard Roll ( 1980 ) offers a testable option to the CAPM. Both of these plus pricing theories have gone through intense empirical and theoretical examination with multiple researches back uping or rebuting both the theoretical accounts. The intent of this paper is to era good, through empirical observation look into the two viing theories in visible radiation of the US Stock Market in comparatively stable economic times. The first subdivision will look at the logic and theoretical facets of the viing plus pricing theoretical accounts. Hopeful? The 2nd subdivision analyses and discusses the bing literature and empirical analyses on both the theories. In the era good dbq, 3rd subdivision I explain the information and the proving methods employed to through empirical observation analyze the theories. Great Introduction? The 4th subdivision explains the consequences derived from the trials.

The last subdivision includes the decision and essays feelings discusses the bounds and deductions of my research. Section I: CAPM and APT. Capital ASSET PRICING MODEL ( CAPM ) Sharpe’s ( 1964 ) CAPM is built upon the theoretical account of portfolio pick by Harry Markowitz ( 1959 ) . Harmonizing to his theory. investors choose “mean-variance-efficient” portfolio. This fundamentally means that they choose portfolios that minimize the discrepancy of teaching toward writing writing, portfolio return. given expected return. and maximise expected return. given discrepancy. In add-on to these premises. the CAPM makes several other cardinal premises. They assume that ( 1 ) all investors are risk averse and looking to maximise wealth in a individual period and can take portfolios entirely on the footing of essays feelings, mean and discrepancy. ( 2 ) revenue enhancements and dealing costs do non be. ( 3 ) all investors have homogenous positions sing the parametric quantities of the joint chance distribution of all security returns. and ( 4 ) all investors can borrow and impart at a risk-free rate of involvement ( Black et al. 1972 ) . The CAPM is an equilibrium theoretical account that explains why each different security has its ain distinct expected returns.

It provides a method to quantify the hazard associated with each plus. One cardinal premise of the on strangers, CAPM is that it assumes that all the diversifiable hazard can be and is eliminated in essays dbq, an efficient ‘market’ portfolio. An single security’s idiosyncratic hazard will be compensated for by another stock. So the hazard associated with each security is its systemic hazard with the market. This is measured in the CAPM by its beta ( its sensitiveness to the motions in the market ) . There is a additive relationship between the security’s beta and its expected returns. Formally the expectations introduction essay, CAPM equation can be written as follows ERi= Rf+?i ( ERm- Rf ) ( 1 ) ERi = Expected return on the capital plus. Rf = Risk Free Rate ( Usually of essays dbq, 6 month Treasury measure ) ?i = beta which is the sensitiveness of the expected extra plus returns to the expected extra market returns. Advertising Paper? Formally. the market beta of an essays, plus I is the covariance of its return with the market return divided by the discrepancy of the market return. ?i = Cov ( Ri. Rm ) ?2 ( Rm ) ( 2 ) Rm = Expected return of the market.

A zero beta plus in the CAPM has an on strangers, expected return equal to the hazard free rate. The betas can be estimated utilizing assorted statistical and econometric techniques. The three most normally used techniques are the “market model” ( This is the most common one. I will be utilizing this for my testing ) . Scholes-Williams. and era good dbq Dimson calculators. There are legion advantages/benefits every bit good as some defects in all the beta gauging techniques. Analyzing that autumn outside the field of this paper but the restriction subdivision looks at the jobs of the different techniques really briefly. In order to compare the two theoretical accounts. remaining consistent with the appraisal techniques will be sufficient regardless of their defects or prejudices. ARBITRAGE Pricing Theory. The APT is the alternate theoretical account for plus pricing foremost developed by Ross ( 1976 ) . Thesis? This is a really appropriate theoretical account as it agrees absolutely with what appears to be the intuition behind the CAPM. It is based on a additive return bring forthing procedure as a first rule. Besides it is more sophisticated that the CAPM because it takes into history more systematic factors that might be relevant.

It examines other macroeconomic variables besides the market hazard. doing this theoretical account more sophisticated. It captures other factors that might hold been ignored by the CAPM. Formally the dbq, APT can be stated as follows. rj=Erj+bj1F1+ bj2F2+…+bjnFn+?j ( 3 ) E ( rj ) is the jth asset’s expected return. Fk is a systematic factor ( assumed to hold average nothing ) . bjk is the sensitiveness of the jth plus to factor k. besides called factor burden. and great introduction ?j is the hazardous asset’s idiosyncratic random daze with average nothing. The APT provinces that if plus returns follow a factor construction so the following relation exists between expected returns and era good feelings the factor sensitivenesss: Tocopherol ( rj ) = rf+bj1RP1+bj2RP2+…+bjnRPn ( 4 ) RPk is the hazard premium of the factor. releasing factor is the career essays, riskless rate. That is. the expected return of an plus J is a additive map of the assets sensitivities to the n factors. Essays Era Good Dbq? There are two cardinal differences between the scoring, APT and the CAPM – “Firstly. the APT allows more than merely one bring forthing factor ( CAPM allows merely for the market factor ) and secondly. the APT demonstrates that since any market equilibrium must be consistent with no arbitrage net incomes. every equilibrium will be characterized by a additive relationship between each asset’s expected returns and its return’s response amplitudes of burdens on the common factor” ( Roll and Ross 1980 ) . It is of import to observe that the APT is based on dbq, three cardinal premises – ( 1 ) Capital markets are absolutely competitory. ( 2 ) Investors ever prefer more wealth to essays, less wealth with certainty. ( 3 ) the stochastic procedure bring forthing plus returns can be represented as a k-factor theoretical account of the signifier specified above in equation 3 ( Reinganum 1981 ) . ( 4 ) persons agree on both the factor coefficients ( beta ) and the expected returns. ( 5 ) equation 3 non merely describes the ex-ante single perceptual experiences of the returns procedure but besides that ex-post returns are described by the same equation ( Roll #038; A ; Ross 1980 ) . There are other theoretical differences between the two theoretical accounts but a more thorough theoretical analysis falls outside the range of essays era good, this paper and is an country of nursing goals, research that has been extensively scrutinized every bit good.

SECTION II: LITERATURE REVIEW. There has been legion surveies theoretical and empirical testing on both CAPM and the APT because of its high relevancy in the finance industry. Era Good Feelings? This subdivision is nursing career goals essays, divided into essays feelings dbq two sub subdivisions – ( a ) Studies on CAPM. ( B ) Studies on APT. and ( degree Celsius ) Comparative surveies on CAPM Vs APT. The 2nd and the 3rd subdivision intersect with each other. Because APT was developed in response to essay teaching writing, the CAPM. tonss of essays feelings dbq, trials on APT expression at it from a comparative position. A. Surveies on thesis, CAPM.

Although. the Sharpe ( 1964 ) and Lintner ( 1965 ) version of CAPM has been a major theoretical force. Era Good Feelings? it has non been an empirical. Most trials of the career goals essays, CAPM are based on essays feelings dbq, three deductions of the relationships between the expected return and the market beta of the essays, security – ( I ) Betas and the expected returns are linearly related and no other variable has explanatory powers. ( two ) beta premium is essays era good feelings dbq, positive ( this besides implies that higher betas means higher returns ) and ( three ) assets uncorrelated with the market have the same expected returns as the hazard free rate ( Rf ) ( Fama #038; A ; Gallic 2004 ) . Although the CAPM is challenged by many surveies. the influences of some earlier surveies still remain and the beta is still considered to be an of import variable in the pricing and evaluating of assets ( particularly in the context of an efficient portfolio ) . It is of import to observe here that all the surveies examined below utilizations some kind of portfolio allotment to prove for risk-return relationships. Fama and Macbeth ( 1973 ) tests the relationship between mean returns and hazard for 2.0 troubleshooting, New York Stock Exchange ( NYSE ) common stocks ( from 1935 – 1968 ) . Era Good Dbq? They employ the “two-parameter” portfolio theoretical account and expectations introduction essay theoretical accounts of market equilibrium derived from era good, that theoretical account to prove for three chief hypotheses of the toward writing writing, CAPM. Era Good Feelings? They test for the relationship between the essays, expected return on a security and its hazard in any efficient portfolio and happen a statistically important positive linear relationship as implied by the theoretical account. They besides find that no other step of hazard in add-on to the portfolio hazard. consistently affects the essays feelings, expected returns of the security ( beta is the lone explanatory variable ) . And they find via residuary analysis that the risk-return arrested developments are consistent with an efficient capital market – a market where monetary values of securities to the full reflect the available information.

Black. 2.0 Troubleshooting? Jensen. and Scholes ( 1972 ) supply some extra testing of the essays era good dbq, theoretical account in the same clip period ( 1926 – 1966 ) for NYSE listed common stocks every bit good. It corrects some of the old proving jobs by utilizing more powerful time-series proving as opposed to merely cross-sectional trials and goals finally comes up with a two factor theoretical account utilizing both transverse sectional and time-series proving. They besides modify the essays era good, original CAPM theoretical account by loosen uping the essays, premise of riskless adoption and loaning chances and therefore beef uping the theoretical account. The decisions and consequences of their trial confirm the era good dbq, positive additive relationship of the nursing goals, beta and the expected returns of the stock but differ with Fama and Macbeth’s decision sing the intercept of the CAPM additive arrested development. Both these surveies provide empirical grounds back uping the CAPM. Since the earlier surveies. Feelings? more empirical research has shown how the CAPM does non reasonably represent the hazard return relationship it implies.

Basu ( 1977 ) evaluates the investing public presentation of common stocks in relation their price-earnings ratio. He uses the CAPM theoretical account. keeping beta changeless to see if the P/E ratios of the security contribute towards the expected return. He finds that there is a higher return for assets with lower P/E when beta is 2.0 troubleshooting, held changeless. An deduction of era good dbq, his consequence poses a serious challenge to the cogency of the scoring, Capital Asset Pricing Model. Because CAPM says that there is no other hazard nowadays in the stock when it is essays, put in the portfolio ( since all diversifiable hazards are eliminated ) . no other factor besides the market hazard should be present. Basu ( 1977 ) finds that P/E ratios besides influence the monetary value. non merely the market hazard. The theoretical account fails to scoring, wholly qualify the equilibrium risk-return relationship during the period he studied ( NYSE houses from 1956 – 1971 ) . It besides implies that the CAPM might be mis-specified because of the skip of other relevant factors. Cheng and Grauer ( 1980 ) provide an alternate trial to the CAPM. They address the ambiguity in old trials of CAPM ( Roll 1977 ) which chiefly examined the security market line to look at the risk-return relationships by using the era good feelings, Invariance Law trial. Although this is non as intuitively delighting as the standard SML trials. it addresses the ambiguity jobs with them.

Their consequences strongly reject the CAPM on many evidences. Essay Hopeful Teaching Theory Writing Writing? They find statistically important tendencies in estimated values of the intercept as regressors are added ( CAPM implies a inactive intercept – the riskless rate ) . They fail to feelings dbq, reject the void hypothesis that the thesis, beta is era good feelings, statistically different from nothing in 25 % of the instances. Their new frame work of proving farther challenges the empirical cogency of the CAPM. Reinganum ( 1981 ) further investigates whether securities with different estimated betas consistently experience different mean rates of returns. In his survey. he uses all the three beta appraisal techniques to build his beta ranked portfolios ( market theoretical account.

Sholes-Williams. and the Dimson calculator ) . The restrictions of the beta appraisal methods are discussed in goals essays, the restrictions subdivision below. The information he looks at is the NYSE common stocks day-to-day and monthly returns from feelings, 1935 to 1979. His consequences besides show that there is thesis, no positive relationship between the houses or the portfolios’ beta and essays feelings dbq the average returns on a statistically important degree. This consequence holds true regardless of the beta appraisal technique used and for both day-to-day every bit good as monthly returns. This research provides farther grounds against the empirical cogency of the CAPM. Essays? B. Feelings Dbq? Surveies on APT. There have been a figure of surveies proving the empirical cogency of the APT since its origin. Hopeful Teaching Theory Toward? One of the first surveies that tests the APT through empirical observation was by era good dbq, Roll and Ross ( 1982 ) . Advertising Paper? They look at essays era good feelings dbq single securities from 1962 to 1972 listed in the NYSE or American Exchanges. They perform the maximal likeliness factor analysis to find the no. of factors and the corresponding factor analysis. And so. they perform a cross-sectional analysis utilizing general least squared arrested developments. The cross sectional portion of this testing and portfolio allotments is really similar to most of the trials on CAPM.

Their research finds four of import systemic factors influences the return of expectations, a peculiar security – ( 1 ) Unanticipated Inflation. ( 2 ) alterations in degrees of essays era good, industrial production ( 3 ) displacements in hazard premiums. and ( 4 ) motion in the form of the term construction of involvement rates. They find that betas are statistically important and have explanatory effects on extra returns. This besides through empirical observation proves the thesis 2.0 troubleshooting, additive relationship between the essays feelings dbq, returns and the systemic factors. This survey nevertheless recognizes that its trial is still a weak one and farther testing is needed. T?rsoy.

G?nsel and Rjoub supply some farther empirical trials of the Arbitrage Pricing Theory. Essay? They examine 13 macroeconomic variables ( factors ) on 11 different industry portfolios of the Istanbul Stock Exchange ( 2000 – 2005 ) to detect the effects of dbq, those variables on stock’s returns. They employed the ordinary least square ( OLS ) technique to make this. Although they do non happen strong R2 for any of the portfolios ( R2 ranges from. In India Research? 19 to. 36 ) . they do happen a batch of variables to be statistically important in different portfolios. For illustration they find unemployment rates to be important in the portfolios of fabrication of essays feelings, basic metal industry. wood production and furniture. fabric metal merchandises. transit and goals communicating.

Because of the big no. of variables employed and era good dbq the incompatibilities in statistical significance of the different betas in different portfolios. this does non state us much about the strength of the essays on strangers, APT. Poon and Taylor ( 1991 ) use the essays era good feelings, same methods employed by Chen. Roll and Ross ( 1986 ) to reconsider their consequences and besides to see if their consequences were applicable to the UK Stocks. They find that variables similar to those of the Roll and Ross trials do non impact portion monetary values in the UK in teaching toward writing writing, the mode described. They conclude that it could be that other macroeconomic variables are at work or the methodological analysis of the trials employed by Ross and essays dbq Ross is unequal for observing such pricing relationships. They besides note some of import unfavorable judgment about the methodological analysis used by nursing career essays, Ross and essays Roll. First. it challenges the premise that market monetary values assets in career, a precise. systematic. additive mode even though the exposure of the stock returns to the macroeconomic factors might non be statistically important. Second. it notes that the two measure arrested development analysis is sensitive to the figure of independent variables in the arrested development – adding more variables consequences in loss of statistical significance of old betas. Third. it notes that Ross and Roll did non see any lead/lag relationships between the plus pricing and the macroeconomic public presentation.

Fourthly. Roll and Ross fail to essays feelings dbq, take any seasonality associated with associated with the industrial production series. Scoring? This survey provides some empirical grounds that invalidates the Arbitrage Pricing Theory by essays dbq, demoing how the great introduction essay, factors found to be relevant and influential in Ross and Roll’s ( 1980 ) survey are non statistically important when applied to the UK Stocks – the era good dbq, betas associated with those macroeconomic factors are statistically undistinguished. Reinganum ( 1980 ) supply some more empirical consequences of the Arbitrage Pricing Theory. He argues that a minimal demand for an alternate theoretical account of capital plus pricing ( CAPM ) should be that it explains the empirical anomalousnesss which arise within the sample CAPM. One such anomaly he observes is nursing essays, when portfolios are formed on the footing of house size ; little houses consistently experience mean rates of returns about 20 % more per twelvemonth than those of big houses. He looks at the stock informations ( NYSE and American Exchanges ) from 1962 to 1978 to look into era good dbq whether an APT theoretical account can account for the differences in the mean returns between little houses and big houses. Essays On Strangers? He uses a three. four and a five factor theoretical account of APT to carry on feelings, these trials and finds that none of those theoretical accounts histories for the empirical anomalousnesss that arise within the CAPM. However. he does indicate out that although the consequences do non back up the APT. the beginning of mistake can be attributed to other factors. Regardless of that. Essays? his trials show that APT is non an equal theoretical account to find the risk-return equilibrium in a statistically important degree. Era Good Feelings Dbq? C. Comparative Studies on APT Vs CAPM.

Bower. Bower #038; A ; Logue ( 1984 ) expression at the public-service corporation stocks in the NYSE and American Stock exchanges from 1971 to 1979. Essays On Strangers? They used Ross #038; A ; Roll’s four factors as its systematic influences. Essays Dbq? They performed time-series analysis and cross sectional arrested developments to happen the betas and the hazard premium sassociated with each factor to finally come up with a multiple arrested development additive theoretical account reflecting the risk-return relationship. They besides find the market beta and the security market line for the same securities ( CAPM risk-return equation ) . They find two really contrasting sets of consequences from the two theoretical accounts. They found that APT to be a better theoretical account than the CAPM.

The R2 for the APT was higher for all the portfolios when indiscriminately grouped. Rural In India? when grouped by industry and when grouped by essays era good dbq, market beta every bit good. The unexplained discrepancies were higher for essay theory toward writing, CAPM in all the portfolios every bit good. They besides perform a weak Theil’s U2 and happen the APT’s U2 to be much lower than CAPM ( the lower the U2. the better predictor the essays era good, theoretical account is career essays, ) . This paper provides strong empirical grounds in favour of APT when compared to the CAPM theoretical account. SECTION III: Methodology. The information I look are all United States informations from 1980 – 1997 ( monthly ) . I chose this clip period because there were no important long term dazes in the market or the economic system during this clip. The stock market clang of 19th October 1987 is an exclusion but the market recovered comparatively fast and there were no important long term macroeconomic alterations. Era Good? Besides. I chose this clip period because it is the most recent period sing comparative stableness in the fiscal markets. There was the point com bubble 1997. recession after 9/11 in 2001 and essay the fiscal crisis at 2008. Essays Dbq? A expression at the S #038; A ; P graph below ( figure 1 ) shall show that.

Figure 1: S #038; A ; P 500 Index ( 1975-2006 ) I looked at monthly monetary values and nursing goals returns for 160 companies from the S #038; A ; P 500. Essays? I use the adjusted information for this intent. I chose adjusted shutting monetary values and non the goals essays, nominal shutting monetary values because the adjusted shutting monetary value histories for any corporate actions that might alter the monetary value dramatically. For illustration a 2:1 stock split would half the monetary value of the stock in a twenty-four hours and later falsify my consequences. 16 companies were chosen indiscriminately from each industry groups.

The industry groups were Energy. IT. Industrials. Materials. Utilities. Consumer Discretionary. Consumer Staples. Financials. Telecommunication. and essays feelings dbq Healthcare. The other variables were rising prices. alterations in the term construction of involvement rates. overall industrial production. and hazard premiums for the same clip period.

Change in the term construction of involvement rates was the difference between the thesis 2.0 troubleshooting, 10 twelvemonth Treasury Bond and the 6 month T Bill rates. The Hazard Premium was the difference between monthly S #038; A ; P 500 returns and the 6 month T Bill returns. The beginning of the informations for each variable is listed in table 1. I employ three portfolio allotments to prove and analyze each theoretical account. The first allotment method will prove the dbq, CAPM theoretical account merely. Nursing Career Goals Essays? 9 portfolios are constructed harmonizing to the beta. I calculate the market beta for each company utilizing the OLS arrested development method and so rank the companies harmonizing to their beta.

Portfolio 1 has the lowest beta and Portfolio 9 has the highest beta. The mean betas for era good, each portfolio can be seen in Table 2. Table 2: Portfolio Allotment I Harmonizing to CAPM. Thesis? securities with different betas consistently experience different mean returns. Higher betas would give higher norm returns ( Reinganum. 1981 ) . This is the relationship I will be proving in essays era good, the Portfolio Allocation I. I would anticipate to happen a statistically important positive relationship between beta degrees of the portfolio and the mean returns. The first allotment will non be proving the essay hopeful, APT. In Portfolio Allocation II.

I constructed 10s industry portfolios. There are 16 companies in each portfolio. Essays Era Good Feelings Dbq? I perform an OLS trial for each portfolio to happen the market betas ( for 2.0 troubleshooting, CAPM ) and essays feelings betas for on strangers, the 4 factors of era good feelings dbq, APT. The four factors I chose are rising prices. Sat Essay Scoring? hazard premium. industrial production and essays alterations in term construction of the involvement rate. I chose these factors because they were the most influential factor Roll and Ross ( 1980 ) found in their factor analysis. I looked at the statistical significance of the betas of each factor to see how valid APT was. Finding statistical important betas for expectations essay, APT implies that CAPM is non equal. This is because harmonizing to CAPM. there is no other systemic hazard besides the market hazard. Or in other words. no other systematic factors affect the essays dbq, monetary values and later the returns of the nursing goals essays, stock.

I besides looked at R squares for both the theoretical accounts to analyze which theoretical account was a better tantrum or which theoretical account explained the discrepancy better. In Portfolio Allocation III. I constructed 10 random portfolios. Essays Era Good Feelings? Each security was given assigned a random figure and so sorted consequently. I performed the same sorts of sat essay scoring, proving employed in Portfolio Allocation II and looked at the same variables. This method would assist extinguish any systematic prejudice the industry that the stock belonged to would hold on the stock returns.

This method of portfolio allotment is used in feelings dbq, many surveies analyzing the two theoretical accounts ( Reinganum ( 1981 ) . Essay Teaching Writing? Dhankar ( 2005 ) . Tursoy. Gunsel. Rjoub ( 2008 ) . Essays Era Good Feelings? Black. Jensen. and Scholes ( 1972 ) ) . Section IV: Consequence. A. Portfolio Allocation I Results. Table 3: Beta Vs. Returns. The consequences for the Portfolio Allocation I are displayed in Table 3. 2.0 Troubleshooting? 4 and figure 2. Consequences from the arrested development analyzing the feelings, relationship between beta and returns are shown in Table 4. Looking at the assorted returns for the portfolios. there is no peculiar relation between the beta and the returns at sat essay first expression.

Portfolio 1. which has the lowest beta. has a higher return than Portfolio 8 ( 2nd highest beta ) . This goes against the logic of CAPM. Table 4: Beta vs Return Regression. Table 4: Beta Vs Returns Regression. The arrested development besides goes on to demo that there is feelings dbq, non statistically important relationship between the beta and on strangers their returns as advocated by CAPM. A expression at era good feelings dbq a simple spread secret plan ( Figure 2 ) besides shows how there is no existent trend/relationship between the beta and sat essay scoring the return and if there is one. it is a negative 1. The first portfolio allotment trial shows that CAPM’s market beta does non find the returns that the security will see. Figure 2: Beta vs. Returns Scatter Plot.

B. Portfolio Allocation II Results. Consequences for feelings, Portfolio Allocation II are as follows. Table 5 displays the arrested development consequences for APT. Thesis 2.0 Troubleshooting? Table 6 displays the arrested development consequences for CAPM and Table 7 displays the R squares for both the essays era good dbq, theoretical accounts. Table 5: CAPM Consequences for Industry Portfolios. The CAPM Coefficients ( Betas ) for all the industry are extremely statistically important ( at a 99 % assurance ) . This shows that market has a really important influence on the returns of the stocks. These consequences support the rural advertising in india research paper, CAPM and turn out that CAPM passes the empirical trial. However. CAPM besides implies that no other variables should hold a important explanatory consequence because any other systematic hazard would be eliminated through variegation of the portfolio. An illustration here would be helpful to derive an intuitive apprehension of how the dbq, diversifiable hazard is eliminated.

If a peculiar stock has a strong positive relationship with industrial production ( for e. g. a steel company ) . 2.0 Troubleshooting? one can happen another stock that has a negative relationship with industrial production ( unemployment insurance company etc ) . This will call off out the systemic influence that industrial production might hold on essays era good feelings dbq, the plus of the monetary value of a peculiar security when it is grouped in the individual portfolio. Looking at the APT consequences ( Table 6 ) . we find that there is in fact other variables that statistically influences the returns of the stocks. Table 6: Apt Consequences for Industry Portfolios. For the IT portfolio. the betas for the hazard premium and essays the industrial production factors are important. Dbq? This means that those variables have explanatory effects on the stock returns. For the Consumer Staples portfolio. all the factors except rising prices have a statistically important explanatory consequence. A expression at the consequences will demo industrial production has a important coefficient in all 10 portfolios. hazard premium in all 10 portfolios every bit good.

Changes in term construction have a statistically important coefficient in 2.0 troubleshooting, eight out of the 10 portfolios and rising prices in four out of the 10 portfolios. These consequences provide empirical grounds for the cogency of era good dbq, APT. Thesis? It shows how different macro economic factors have a statistically important influence on the returns of the stock. Essays Dbq? An deduction of this consequence is that CAPM is non equal since it finds that there are other sorts of hazard besides the career, market hazard. Era Good Dbq? I looked at the R squares of the two theoretical accounts to see which theoretical account does a better occupation explicating or accounting for rural in india research, the discrepancies in the return. Essays Era Good Feelings Dbq? Table 7 lists the R squared for the different portfolios. Table 7: Roentgen Squares for CAPM and APT Models. Industry Portfolios The R squares are higher with the CAPM theoretical account for most of the portfolios. This shows that market hazard does capture more hazards built-in in hopeful teaching toward writing, the portfolio than other macro economic variables that were tested. Looking at the R squares by itself would take you to believe that CAPM is essays feelings, a better theoretical account. Advertising In India Research Paper? However since other macroeconomic variables do hold a important consequence on the returns.

CAPM is proven to be unequal. Further deductions of these consequences are discussed in Section V. Essays Feelings? C. Portfolio Allocation III Results. Consequences for Portfolio Allocation III are as follows. Table 8 displays the CAPM consequences for all 10 portfolios ( portfolios are indiscriminately constructed ) . Table 9 expressions at the APT consequences for the same set of portfolios and Table 10 shows the R squares utilizing CAPM and rural in india paper APT for era good dbq, all the portfolios. Table 8: CAPM Consequences for Random Portfolio Allocation. The consequences from the CAPM arrested developments for all 10 portfolios are statistically important at hopeful toward writing a really high degree ( 99 % ) . These consequences are similar to the 1s found in the industry portfolios. It provides farther grounds that market betas are important even when the industry prejudice is essays era good feelings dbq, removed. In other words. market hazard is reflected in the returns of the portfolios.

However for CAPM to keep land based on empirical grounds. APT should be shown as statistically undistinguished. There should be no other explanatory variable or no other systematic hazard that affects the returns of the portfolio. The Apt consequences are shown below. Table 9: Apt Results for Random Portfolio. Allocation The consequences indicate that industrial production. hazard premium and alterations in term construction have statistically important betas in all the portfolios. The beta for rising prices is statistically important in four out of the 10 portfolios.

These consequences provide empirical grounds for the cogency of the APT. It besides implies that CAPM is non equal as it fails to take into history some of the other macroeconomic hazards. These consequence shows that market hazard is non the lone variable that influences returns as implied by the CAPM. Table 10: Roentgen Squares for CAPM and APT Models. Essay Hopeful Theory Toward Writing? Random Portfolio Allocation The R squared is somewhat higher when CAPM is era good feelings, employed as opposed to hopeful writing, the APT. This consequence is once more congruous with the essays dbq, 1s found in the industrial portfolios.

It shows how the sat essay, market overall explains the discrepancies better than other macroeconomic factor. Looking at the R squares might demo that CAPM is a better theoretical account. Era Good Feelings? However. as mentioned earlier. R squares do non capture the whole image. Rural Advertising Paper? Deductions of these consequences are discussed below. Section V: IMPLICATIONS. LIMITATIONS. AND CONCLUSION. The consequences shown above demonstrate a twosome of things about each theoretical account. The first consequences from portfolio allotment prove that beta does non find the returns.

It provides empirical grounds rebuting the era good feelings, CAPM theory. Although CAPM is falsified in the first trial. the other two trials ( Portfolio Allocation I and essays on strangers II ) show that market hazard is significantly reflected in the plus returns. Essays Era Good Dbq? The proving for APT in these two trials shows that other macroeconomic hazards are besides reflected in the stock return. The two theoretical accounts can non both be right because CAPM says that merely market hazard is apparent in thesis, the plus and no other systematic hazard variable exists. Statistically important betas for APT in both the portfolio allotment trials show that there are other macroeconomic variables that account for essays era good dbq, the returns of the thesis, security. turn outing CAPM inadequate. The better R squares for CAPM shows that market hazards and motions explain the discrepancy in the stock returns better than all the macroeconomic factors in the APT theoretical account. Although it explains the discrepancy better. it ignores other important hazards present in the stock returns. This can be debatable when ciphering the stock monetary value and doing investing determinations.

These consequences show that the APT might hold a little border over the CAPM merely because it is non falsified and the consequences for it were statistically important. However it’s weaker R squared values ( although non significantly weaker ) show that it can non explicate the discrepancies in the returns every bit good as the CAPM can. Fiscal practicians should utilize both the theoretical accounts in junction and era good feelings dbq non take one over the other. Although my consequences show APT is 2.0 troubleshooting, stronger and CAPM is unequal. CAPM’s better R sq. and the statistical significance of its betas should non be ignored. B. Restrictions. There are some restrictions in this whole research 1 must maintain in head. Get the better ofing these restrictions will beef up the research but the consequences of the trials I have done are still valid and supply insightful empirical grounds that has serious and essays meaningful deductions. The first large restriction of this paper is the deficiency of econometric edification. For illustration the usage of rural advertising in india research, more complicated theoretical account than the OLS arrested development theoretical account like the GARCH would give more accurate consequences. It would account for essays era good dbq, the noise nowadays in the fiscal information.

Besides for my APT testing. I use Ross #038; A ; Roll’s ( 1980 ) factors. I could execute my ain factor analysis to come up with the macroeconomic variables relevant for my informations which would beef up my APT consequences. Again. due to deficiency of my edification in hopeful teaching theory toward writing writing, econometrics and Stata. I could non utilize this measure. However. these macroeconomic factors ( rising prices. industrial production. alterations in term construction. hazard premiums ) are used in other surveies excessively ( Poon #038; A ; Taylor. 1991 ) and still present valid grounds for the strength of the theoretical account. Another restriction of my paper is the essays era good dbq, beta appraisal technique I use. specially for the CAPM theoretical accounts.

I use the clip series OLS arrested development to gauge betas ( this is the market theoretical account ) . Using the hopeful theory writing, market theoretical account calculator might be debatable for day-to-day returns of unsynchronized trading jobs. And if nontrading is a serious job this might take to prejudices in essays era good dbq, the appraisal which would impact the consequences ( Reinganum. 1981 ) . Other two appraisal methods are However. even the Scholes Williams calculator might be biased and inconsistent if nontrading is a serious sufficiency job harmonizing to Dimson. Using all three appraisal techniques would hold led me to goals, come to a conclusive reply ; my reply is era good, limited merely to the market theoretical account. The prejudice evident in the market theoretical account gauging technique is present in my consequences and should be eliminated by utilizing these other appraisal method. On a broader position. my research looks at 2.0 troubleshooting stock market informations for a really specific clip period. The external cogency of this research is merely application to developed stock markets during times of stableness.

The findings of essays feelings, this paper would non be applicable to developing stock markets or when the stock market demonstrates utmost volatility or experiences other sorts of exogenic or endogenous dazes. In the rural in india research, existent universe. markets experience these fluctuations. hence ballads my biggest restriction. There has non been adequate testing of these theoretical accounts for times of crisis and dazes in the fiscal markets. This is an country where more empirical analysis and proving are warranted. C. Concluding Remarks. The consequences have shown that both theoretical accounts are non perfect. APT is better because it takes into history systematic hazards other than the market hazard as opposed to the CAPM which merely histories for era good dbq, the market hazard. The empirical cogency of the APT refutes the adequateness of CAPM as an plus pricing theoretical account. But the greater R squared demonstrated by the CAPM should non be forgotten every bit good.

The hazard averse and nursing goals essays the rational investor would profit utilizing both theoretical accounts and coming to the most sound determination. Market hazards should non be ignored but neither should other macroeconomic hazards. Further research in more realistic market status is essays feelings dbq, needed to see which theoretical account is better for changing market conditions. The pick of the theoretical accounts will hold serious effects for the investor every bit good as for the market as a whole. Possibly. there will be a theoretical account that incorporates the strength of both these theoretical accounts and scoring eliminates the essays feelings dbq, failings. but until so both theoretical accounts should be used in concurrence for the best consequences. Recognitions. I would wish to thank Professor Tymoigne for supplying my some valuable beginnings and steering me through the procedure of this research. Professor Schleef for assisting me insight.

Dilara Zhamakayeva. Merica Shrestha and rural advertising in india Lame Ungwang ( Undergraduate Economics Students ) for assisting me cod and feelings dbq assemble the immense sums of informations. 1. Basu. S. . “Investment Performance of Common Stocks in Relation to Their. Price-Earning Ratios: A Trials of the essays, Efficient Market Hypothesis. ” The Journal of essays dbq, Finance 32. no. 3 ( 1977 ) : 663-682. 2. Black. Fischer. Michael Jensen. and Myron Scholes. “The Capital Asset Pricing Model: Some Empirical Trials by Michael Jensen. Fischer Black ( deceased ) . Myron Scholes. ” Traveling to seek. hypertext transfer protocol: //papers. ssrn. com/sol3/papers. cfm? abstract_id=908569 #038; A ; rec=1 #038; A ; srcabs=350100 ( accessed December 4. 2010 ) . 3. Bower. Rural? Dorothy H. . Richard S. Essays Era Good Feelings? Bower. and Dennis E. Logue. “Arbitrage Pricing Theory and Utility Stock returns. ” The Journal of hopeful teaching theory writing writing, Finance 39. no.

4 ( 1984 ) : 1041-1054. 4. Cheng. Pao L. . and Robert R. Grauer. “An Alternate trial of the Capital Asset Pricing Model. ” The American Economic Review 70. Essays? no. 4 ( 1980 ) : 660-671. Nursing Career? 5. Dhankar. Raj S. . “Arbitrage Pricing Theory and the Cpital Asset Pricing Model – Evidence from the era good feelings dbq, Indian Stock Market. Thesis 2.0 Troubleshooting? ” Journal of Financial Management and essays era good feelings Analysis 18. no. 1 ( 2005 ) : 14-27. 6. Fama. Eugene. and James MacBeth. “Risk.

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