A Good Man Is Hard - 885 Words

A Good Man is Hard to Find People are often over looked and are not acknowledged for the good that they do in every day life. Most would not consider Bailey, the father from the story A Good Man is Hard to Find by Flannery O’Connor, an outstandingly great man. A scholarly critic, Nancy Nester, expresses that the moral of the story is to delineate Bailey as the Grandmothers idea of a ‘good man’. Bailey’s character is bland and also a bit authoritative and can be seen as an ordinary man, not a ‘good’ man. Nester forenamed â€Å"[†¦] that is may be Bailey, in fact, whose goodness that the grandmother affirms at its climax†. Bailey’s true morality is not characterized until the end of the text when the grandmother shows her desperation to the ‘Misfit’, the alleged serial killer who escaped from prison. In the story A Good Man is Hard to find, Bailey, the father of his family and son to his mother shows his ‘go odness’ throughout the story by alleviating the wants and needs of his family but is ultimately over looked because of his bleak and affectionless characteristics. The setting of the story is in 1953, when times were supposed good. The Grandmother expresses several times that now-a-days it is very hard to find a good man even though a good man has been in front of her this entire time. Nester states in her essay; â€Å"But scarcity is just part of the problem. Even when goodness is within proximity, it is neglected. Thus, the voice insists that actions be speaking genuine goodnessShow MoreRelatedA Good Man Is Hard897 Words   |  4 PagesA good man is hard to find Plot::: The characters: Grandmother- ***She lives with Bailey and his family. During the journey to florida the grandma conviences the family to visit an old house she remembers but on the way they get into a car crash. This lead this leads to the murder of the entire family. She remembered that the house was actually in tennesse where she origanilly tried to convence the family to go to instead of florida which they do every year. She tried to reason with the misfit butRead MoreIs It Hard For Find A Good Man?1739 Words   |  7 PagesHadleigh Garza Ms. Vernon English 1302.05 March 26, 2015 Is it Hard to Find a Good Man? In the short story â€Å"A Good Man is Hard to Find† Flannery O’Conner introduces the story with the characters, the grandmother, her son Bailey, his wife, his two children June Star and John Wesley, and the baby, on the way to Florida for a vacation. Soon after the trip begins, the grandmother states that she wants to go Georgia to see a friend, but with her awful memory, she remembers it is actually in TennesseeRead MoreA Good Man Is Hard To Find1460 Words   |  6 Pages1102 Society and Class in â€Å"A Good Man is Hard to Find† In Flannery O’Connor’s short story, â€Å"A Good Man is Hard to Find† the grandmother and the Misfit become the main focus even though the other characters are involved in the story. Throughout the entire story, The Misfit is portrayed as the symbol of evil because he was in jail; he escaped from jail, and he committed murders. The grandmother believes to be greater than the people that she are around because of the â€Å"good† that she portrays. The conventionalRead MoreA Good Man Is Hard To Find1451 Words   |  6 Pagesï » ¿What makes a good man How many people do you encounter each day whom considers themselves to be a righteous person? Do you agree or disagree with this persons judgement of their own character? Often a person might hide behind his or her religion as a justification for the actions made in every day life. Perhaps some people may decide that commiting enough positive actions can some how cancel out their negative actions, allowing them to consider themselves a righteous person. In Flannery OConnorsRead MoreA good man is hard to find2182 Words   |  9 PagesThe Use of Religion in Flannery O’Connor’s â€Å"A Good Man is Hard to Find† Flannery O Connor is a Christian writer, and her work shows Christian themes of good and evil, grace, and salvation. O’Connor has challenged the theme of religion into all of her works largely because of her Roman Catholic upbringing. O’Connor wrote in such a way that the characters and settings of her stories are unforgettable, revealing deep insights into the human existence. In O’Connor’s Introduction to a â€Å"Memoir of MaryRead MoreA good man is hard to find2745 Words   |  11 PagesEssay #1 A Closer Look Into â€Å"A Good Man Is Hard to Find† By James ENC-1102 The short story I chose for my critical essay is a story that caught my attention with a gentle and inspiring title and as I began to turn pages it suddenly evolved into a theme that caught me off guard and I quickly became intrigued by elusive style of writing the author used to express this story in a unique form of literature. After reading Flannery O’Connor’s â€Å"A Good Man is Hard to Find†, I will discuss the vividRead MoreA Good Man Is Hard to Find: Irony1017 Words   |  5 Pagesâ€Å"A Good Man is Hard to Find† In the short story, â€Å"A Good Man is Hard to Find† there is irony all through the pages. It shows how you should follow your gut instinct when you think you shouldn’t go somewhere, when you know something bad is going to happen. In the story it also talks about how the grandmother wore her nice clothes in case of an accident, she wanted to look like a lady in case anything bad was to happen. The grandmother was constantly talking about the good in people, but was she aRead MoreIrony In A Good Man Is Hard To Find1170 Words   |  5 PagesFlannery O’Conner, a Gothic literature writer, has written several short stories throughout her life. Among these stories, two of them being A Good Man is Hard to Find and Good Country People, she has included some of the most fleshed out and grotesque characters I have ever read. O’Conner brings her characters to life throughout her writing in near flawless and subtle detail with ironic humor. For example, Oâ€℠¢Conner makes skillful use of ironic names for her characters. The titles and namesRead MoreA Good Man Is Hard To Find Reflection986 Words   |  4 PagesAustin Millender Intro to Lit: 9:35 Tuesday Thursday A Good Man Is Hard To Find A Good Man is Hard To Find is a story that unveils the hypocrisy of modern Christian views, but also shows that you shouldn’t be so wrapped up in the past and that you need to learn to let things go. In A Good Man is Hard to Find, Flannery O’Connor makes it clear that everybody’s guilty of something. The family is about to embark on a vacation with Grandma who had already been complaining that she wanted to go toRead More A good man is hard to find paper1379 Words   |  6 Pages â€Å"A Good Man Is Hard To Find† nbsp;nbsp;nbsp;nbsp;nbsp;Flannery O’Connor’s â€Å" A Good Man Is Hard To Find† depicts a family’s encounter with a criminal escaped from a federal penitentiary and their essential relinquishment of life. The family that the story surrounds has planned a trip to Florida for a family vacation. Knowing but unconcerned about the criminal at large, also known as the Misfit, the family voyages onward towards their destination until the trip is abruptly stopped by a totally

Elizabethan Fashion Essay - 1902 Words

Elizabethan Fashion The Elizabethan Era was a time that reflect the mood and values of the 16th century though the use of fashion. It was a period in which a lot of originality and creativity was evident was used to create new styles of dress (Black Garland 16). The Fashion in Elizabethan England at this time reflected the values and Ideals of the era. It was an Era that based everything on the Great Chain Of Being; which was a concept that everyone had a position in the social standings of society that was given to him or her by God (Leed 1). The†¦show more content†¦The foreign look was the look that society wanted to achieve during the Elizabethan era, for it reflected the values of Queen Elizabeth, who happened to be the ideal women of the era. Things that are not controllable sometimes have an influence on society that is not expected. One effect that should have been expected was that Queen Elizabeth would have an impacted on the society that she gave her name to. The one thing that wasn t expected however was the extent to which Queen Elizabeth would influence fashion. Queen Elizabeth was passionate about fashion and she spread her love for it through out the kingdom. One of Queen Elizabeths talents was her ability to use any situation to her political advantage (Boucher 17). She wanted to be seen as a person with power and capability and she thought rich cloths would help obtain that opinion. The rich fabrics and jewels displayed incredible wealth, power and prestige (Leed 1). Wealth and power were not the only thing Queen Elizabeth achieved with her wardrobe. She had a great fondness for foreign dress and this had an incredibleShow MoreRelatedFashion During the Elizabethan Era Essay1243 Words   |  5 Pages Have you ever wondered what people in the Elizabethan Era wore? Fashion was just as important in those days as it is to some people today. What people were wearing mattered to others, and even the government. During the Elizabethan Era clothing, accessories , and cosmetics were all a part of daily life. During the Elizabethan Era, there were a set of rules controlling which classes could wear which clothing called the Sumptuary Laws. The Sumptuary Laws controlled the colors and types of clothingRead MoreEssay on Clothes and Fashion of the Elizabethan Era1050 Words   |  5 PagesOf all aspects of Elizabethan culture, the most distinctive is probably the clothing and fashion. A lot of the clothing varied to whether they were a member of the nobility, upper class or the poor. But even if a women or man was wealthy or poor, they were not allowed to wear whatever they wanted. It was a highly fashioned age that prized a look that was artificial, elaborate, and striking. The style of clothing of the Elizabethan Era are easily recognizable today and popular with designers of historicRead MoreHow Elizabethan Fashion Has Influenced the Modern Day Fashion World612 Words   |  3 Pagesgeneration laughs at the old fashions, but follows religiously the new.† (Fashion Quotes 1) The word s once spoken by Henry David Thoreau are politically correct. People often look at Elizabethan‘s choice of fashion and ridicule everything about it from the hair, down to the stockings. As it appears, fashion has always been a broad topic of discussion in the world. Whether it is NY Fashion Week or a Macy’s fashion show, fashion is something that has always been an eye catcher. Fashion has been around for manyRead MoreFashion of the Elizabethan Era1955 Words   |  8 PagesFashion of the Elizabethan Era The Elizabethan era was a time period centered around the life of Queen Elizabeth I’s reign (1558-1603). This period in time is considered the peak of English history and is the beginning of when people began to think and believe differently. That brought along changes in the way people dressed. How people, particularly rich ones, dressed was just another way for them to express themselves. Social classes are also very much prominent in the era. These socialRead MoreWhat Influenced Elizabethan Fashion1293 Words   |  6 PagesWhat Influenced Elizabethan Fashion   Ã‚  Ã‚   There are many people and instances, like government officials, celebrities, the events of different time periods, music, and even social media that can influence the fashion and culture of an era. In early England, more specifically the Elizabethan Era, much of their culture was influenced by the Royal Family. Not only did the Royal Family have great impact on the time period, but the laws that enforced how the English were allowed to act and what they wereRead MoreThe Importance Of Clothing And Fashion In The Elizabethan Era1840 Words   |  8 PagesClothing and fashion was an important part of the Elizabethan Era, as it played a major role in distinguishing social classes among the people. Laws were in place about what people could and could not wear to maintain social structure, and to make sure citizens were not wasting their money on frivolous and unnecessary clothing when the money could be better spent on other necessities such as horses. Both men and women had specific articles of clothing that varied depending on someone s social classRead More History of Fashion Essay638 Words   |  3 PagesHistory of Fashion Fashion has changed a great deal over the past three centuries. As history changes it seems that fashion in some aspect changes with it to adapt to the era. Even today fashion continues to change as the years go on. Looking at fashion even 20 years ago we can see a difference from what we see in our everyday lives. For the purpose of this essay Fashion will be divided into three centuries, since not every era of clothing can be touched upon. The first era of fashion history includesRead MoreThe Elizabethan Era1461 Words   |  6 Pagesperiod called â€Å"The Elizabethan era†. It was full of many wonderful things, such as fashion. They had a very particular fashion. The Elizabethan era was the Queen Elizabeth Is reign which was from 1558–1603. It took place in England. It is also known as the golden age. This also happened to be when Elizabethan Theatre began to grow and playwrights like Shakespeare composed many plays that changed the way of the old style theatre ways. Towards the end of Queen Elizabeth’s reign, fashion and clothing becameRead MoreHow Portents, Omens and Dreams Add to the Dramatic Tension Before Julius Caesars murder in Julius Caesar989 Words   |  4 Pagesus a sense of approach of terrible events. Shakespeare lived the Elizabethan period; therefore like many Elizabethans he would have had the conception of the divine order of the universe being mystical. Similar to the characters in Julius Caesar the Elizabethans would see storms as a warning to some sort of disaster or calamity to be visited upon men, pagan or Christian, by God. Also many Elizabethans were superstitious about things, which explains Shakespeares useRead More Much Ado About Nothing - The Importance Of Noting Essay1155 Words   |  5 Pages Discuss The Importance Of Noting In Much Ado About Nothing Noting, or observing, is central to many of the ideas in Much Ado About Nothing. The word nothing was pronounced as noting in Elizabethan times, and it seems reasonable to presume that the pun was intended by Shakespeare to signal the importance of observation, spying and eavesdropping in the play. As a plot device, these occurrences propel the action and create humour and tension. The perils of noting incorrectly are portrayed and this

The Chinext IPO Initial Under-Pricing-The Impact Of Risk Explored

Question: Discuss about the Chinext IPO Initial Under-Pricing-The Impact Of Risk Explored In The IPO Prospectus. Answer: Introduction ChiNext was founded in the year 2009 in the month of October in order to help the high growing, innovative and private organizations to have accessibility in the capital market in China. The focus of ChiNext on the privately associated organizations is considerably different from the partial privatizations that look to govern the Chinese Main board. In order to provide accessibility of the private high-growth companies to the capital markets, ChiNext reduces the requirements of listing on the profitability and the size of the company in comparison to the main board (Deng Zhou 2015). The differences in the characteristics of the company as well as the regulatory environments that is likely to create differences in the initial public offerings under-pricing and the long-run performance for ChiNext in comparison to the SME Board and the Main Board. This paper looks to analyse the ChiNext IPO under-pricing, the performance in the long-run and the elements and undertakes a comparison wit h the main board and the SME. The analysis have discovered that the IPOs in the Chinese main Board experiences an increasing level of under-pricing and the underperformance is kind of modest with respect to the IPOs that are functioning in the developed markets. There have been debates that such unique characteristics of the performance of IPO in the Chinese Main Board and are related to their nature of partial privatization, the lack of opportunities of investment in China, separation of equities in the listed organizations and the firm regulations of the government in the IPO process (Deng Zhou 2017). The effect of these features is likely to fundamentally less for the IPOs of ChiNext provided that they are not significantly not partial privatisations of the assets owned by the government faces lower level of regulatory restrictions when listing as well as ChiNext itself giving out the investors an added set of opportunities for the purpose of investment (Christofi et al., 2015). In this circumstances, it can be expected that the IPO under-pricing and the long run performance for the ChiNext listings in order to differ considerably from the Main Board IPO. The paper has been constructed based on the sample of 629 IPO firms that have been listed within 2014 to 2017 and this paper has looked to discover the initial aggregate adjusted by the abnormal return on ChiNext. This paper would therefore with the help of the literature review and the methodology would look to determine the interim proposal for the IPO under pricing in ChiNext. Literature Review There have been several researches on the under pricing of the IPO globally. Gao, (2014) has provided a synopsis of the aggregate initial returns on the IPOs in various countries and reveal that the extent of under pricing changes significantly across the countries with the aggregate returns usually higher in the developing markets that the underdeveloped ones. During past few decades, under pricing of the IPO has influenced a significant body of the literature looking to define the issuers are looking to leave the money on their table. The information asymmetry framework advises that the equilibrium offer price that is inclusive of a limited discount is essential in order to attract and compensate the trading that is uninformed for trading against the advanced information. Lee et al., (2017) have debated that under pricing of the IPO is rational in nature and has been defined as a premium indecision that encloses the value of the new issues. The impact of exposure to risk and its effect on the initial returns on IPO can be investigated from the two various aspects of the literature namely the impact of risk on the level of return and the advantage of information disclosure on the IPO share valuation. The fact that most of the investors are risk hesitant, the relationship among the initial return and the risk related to the IPO is anticipated to remain positive (Carpenter Whitelaw 2017). The investigations on the Chinese IPO markets have disclosed that the investors are in the idea of looking forward to increased returns by investing in IPO shares that much more riskier. Due to this effect, an increased level of risk for the IPO by the underwriters will create an extensive discount on their offer price, which would create an extensive error in pricing and gradually increased initial return (Li Zhou 2016). Conversely, there is existent of a gap in the current literature about the fact that what the perceived level of ris k is. The research questions that have been framed from the literature are given as follows: Q1. Does the information included in the prospectus of the IPO would assist in mitigating conventional information asymmetry that the IPO companies face from the prospective investors and the underwriters? Q2. What is the relationship among the disclosed factors of risk in the prospectus of the IPO and the initial return of the IPO? This paper mainly looks to answer these two questions. Cumming Zhang (2016) have explained that the tone and the text disclosed in the prospectus of the US based IPOs have priceless and significant information that can be utilised in order to proxy for the uncertainties that are available in the ChiNext IPOs. The uncertainty in this respect generates increased initial returns. Hence, the factors of risk that have been disclosed in the prospectus of the ChiNext IPOs should incorporate added uncertainties and this as a result should have an impact on the initial return of the IPO. Xu et al., (2017) are among the first researchers who were to recommend several factors why the risk litigation is a naturally reasonable and economically precise factors for the under pricing of an IPO. The Securities Act of 1933 provides the investors with the power to sue the issuers of the IPO and even the underwriters if the value of the share falls below the offer price because of omission of materials in the IPO prospectus. In this aspect of an uncertainty environment related to the IPO, especially the probable reputational losses that are related with the lawsuit, the issuers of the IPO and the underwriters who are worried about the probable legal actions may look to hedge the risk of lawsuit by under pricing the IPO. Bhattacharya, (2017) examine the impact of the risk of lawsuit by assessing the variations in the initial returns among the IPOs that have been sued by the investors and IPOs that have not been sued. There are no direct proof that under pricing lowers the incidence of legal actions. Wang Li (2015) on the other consider the endogeneity of primary returns and the incidence of legal actions and look to discover the assistance for the impact of avoidance and insurance as projected by the theories related to lawsuit risks. Their outcomes recommend that risk associated with litigation can seriously have an impact on the initial returns of the IPO. The assumptions that are underlying in the present examinations of the lawsuit risk is that the losses in the share market are adequate to bring in legal penalties. In practicality, the two significant scenarios must be met for undertaking prospective successful litigations (Feng Johansson 2016). Firstly, the investors must have gone through injuries that are in the form of economic or investment value. Secondly, the investors must be able to discover evidence of a material omission in the declaration of the IPO firms that are existent during the time of their primary investments. In order to restrict such potential legal actions, the IPO companies and the underwriters may look to lower their level of profitability with respect to omission of material by improving the declarations given in the prospectus of the IPO. Hence, it can be anticipated a direct connection among the declaration of risk in the prospectus of the IPO and the initial return of the IPO, which this proposal has lo oked to assess. Data Description As explained earlier, one of the factors why the IPOs of ChiNext has been selected has been that all the IPOs of ChiNext are needed to abide a template that is in nature standardized with respect to their prospectus. By looking at the current literature of IPO pricing, the paper has chosen several control variables from the company, economy and the offer distinct features during the primary screening (Nassr Wehinger 2016). All the controlled variables are handpicked and have to be listed. A descriptive statistics for the collected control variables with respect to the three various measures of the initial returns of the IPOs of ChiNext namely MPR, OPR and CPR are documented. As the subscription ratio that is in this aspect offline in nature explains the demand in the market for the new shares from the institutional investors and in this scenario a large number recommends that new shares for ChiNext is increasingly high with respect to the total number of shares that have been offered or given to the investors. The data is collected from the 320 IPOs in ChiNext with the help of their disclosed prospectus. It has been viewed that subscription from the individual and the organizational investors are the key factors that contributes to the increased degree of initial returns for the IPOs of ChiNext. Offer size is even a key factor as it looks to assess the offer size of the IPOs and thereby looks to obtain the impact of size in the initial under pricing in the ChiNext IPO s (Yao, 2016). In the process of risk factor process of gathering, there have been observations of three precise trends. Primarily, the IPOs that are from the same sector have the tendency to document similar kinds of factors of risk (Su Brookfield 2013). Secondly, there are specific risks factors that are always going hand in hand. These are even known as cross listings. Finally there is a widespread of organization specific risk factors and few of them have very limited frequencies of disclosure. The key job has been to recognise the risk factors and that have an impact on the initial returns. This tends to have an impact on the underperformance of the IPO firms (Chen, 2016). Therefore various statistical tools are used additionally with the special variable mitigating features in order to eliminate unimportant control variables to the initial returns until all the framework converges and brings forth the same key control variables. By maintaining these key variables as the control variables in the framework, a repeated assessment by making use of all the risk factors are undertaken in order to ascertain whether and how declaring the precise factors of risk in prospectus of the IPO of ChiNext has any key and extra effect on their initial returns (Guo et al., 2017). Methodology In the research process, one of the major steps is methodology. This method is considered as the systematic and theoretical analysis of the research methods. There is not any exception of this fact in case of this particular research program. As per the research methodology, there are three steps in data analysis (Bouzouita, Gajewski Gresse, 2015). In the first step, the screening of all 13 variables will be done with the help of the technique of SPSS variable reduction in order to filter out those variables having the p-value 0.05. In the second step, all the 54 risk factors will be added into the particular model. After that, it is needed to apply the same approach in order to filter out the risk factors having the p-value 0.05. In the third step, for the improvements in the specification of model, the researcher will further impose the models of GARCH-M model with an ARMA (1, 1) and this will be imposed in residuals. More specifically, at first, regression (1) will be run with 13 control variables after the arrangement of 355 IPOs based on their listing dates. The regression will be run on the OPR with the models of Enter, Backward, Forward and Stepwise in order to remove the control variables that do not have significant statistical value having p-value 0.05 on at a time until the coverage and return of all the four models have the same significant variable that is p-value 0.05. After that, the researcher will report the results of final regression in Panel A of Table 4 (Hanley Hoberg, 2012). In addition, by using the significant variables identified as control variables from the regression process (1), there will be the inclusion of all the 54 risk factors listed in Table 3 and the researcher will also run regression (2) with the help of same techniques for variable reduction. This process will be done for the removal of all the significant risk factors so that they can be reported in the res ults in the Panel B of Table 4. In addition, regression (3) will be run by taking into consideration all the significant variables identified in regression (2) in order to improve the fitness of the model so that the result can be reported in Panel C of Table 4. There will be repetition in CPR and MPR and the result will be reported in Panel A, B and C in Table 5 and 6 respectively. The area of interest of the researcher will be in the magnitude and signs of the regression coefficients that has association with all the risk factors identified in regression (2) and (3) (Zhou Lao, 2012). With the help of different retune measures like OPR, CPR and MRP as the regressions dependable variable; the researcher will be enabled to check that whether the various identified risk factors have different kind of impact on the measurement of different initials. This particular process can contribute to the different implications and conclusions of the research program (Bansal Khanna, 2012). It needs to be mentioned that different tables show the different results for regression. From Table 4, the researcher will get the final regression results for the OPR. Panel A will be able to show different impotent factors of the research; they are ratio of offline subscriptions from the institutional investors, the ratio of online subscriptions from the individual investors, the condition of the stock market, the IPO issue size and the dominant as well as significant control variable of OPR (Zaremba Zmudzinski, 2014). The regression coefficient will help the researcher in the determination of the strong market demand of individual and institutional investors for the new shares of ChiNext IPO. In this context, it needs to be mentioned that there is a positive and significant impact of SZSE composite index return on the OPR; at the same time, the associated coefficient of offer size is significant and negative. On the other hand, the large size of the IPOs will fetch lower rate of initial returns (Chen Strange, 2012). It can be seen that there are four types of major variables in this particular research. However, the process of changing policies and the growth of profit are also play a significant part in this research. However, it needs to be mentioned that they contribute less in the fitness of the overall model. It can be said that the value of R2 for the final model is 0.56. The researcher will be able to go to the significant findings from the comparisons of OPR. It has been seen from the research that the contribution of oversubscription from the institutional inventors are 0.32 towards the adjusted R2. In addition, The value of standardization beta is 0.51. This particular method shows the dominant effect of beta towards OPR. It can also be seen that Panel B of the research reports all the results from regression (2) and all the risk factors are incorporated with it (Daugherty Jithendranathan, 2012). For this particular research program, there will be immense importance of the research findings. This particular process indicates the fact that for the IPO firms that take into consideration the litigation or lawsuit as risk factors, the OPR of those firms are higher. On the other hand, as per the suggestion of positive coefficient, the underwriter prices the litigations based on the bidding prices and others. In this case, it needs to be mentioned that the effects of under pricing is significant for both the companies and the investors. It needs to be mentioned that due to the under pricing process, more number of investors are attracted towards the companies and they become willing to bid for higher openings for the new shares of the companies. In this process, it needs to be mentioned that there is an association of standardized beta with the ongoing litigations or lawsuits of the companies (Akyol et al., 2014). Conclusion In this proposal, the scope of past work in understanding the effect of the informational details that is available in the prospectus of the IPO with respect to the initial returns. By taking the benefit of the generalised format of the prospectus of the Chinext IPOs, an exclusive set of data with several factors of risk are prepared and evaluation of the data with the help of numerous statistical and econometric frameworks with special characteristics are undertaken. After managing and assessing the market, the offer specific features and the company that are effectively reported in the pricing literature of the present IPO, with the considerations of the probable time series and the correlations that are cross sectional in nature in the pricing errors in the IPO and the correlation among the initial returns of the IPO and their volatility in the conditional return there have been recognition of four risk factors that have key impacts on the IPOs of ChiNext with respect to their ini tial returns. The risk factors are transformations in the policy on the taxation of the government subsidy, increased amortization and depreciation because of recommended capital expenses, ongoing lawsuit and law actions and infringement of trademarks. There have been worries with respect to the existing legal actions has been a key factor as it has an impact on the CPR and the OPR in a positive manner which indicates the risk compensation with the help of deepened under pricing of the underwriters. Hence, the underwriters are willing to provide a higher bidding price at the open economy during the day when the risk of the IPO is out in public. Hence, risk exposure in the prospectus of the IPO firms in ChiNext play a crucial part. References Akyol, A. C., Cooper, T., Meoli, M., Vismara, S. (2014). Do regulatory changes affect the underpricing of European IPOs?.Journal of Banking Finance,45, 43-58. Bansal, R., Khanna, A. (2012). IPOs underpricing and money left on the table in Indian market.Int. J. Res. Manage. Econ. Commer,2(6), 106-120. Bhattacharya, A. (2017). Innovations in new venture financing: Evidence from Indian SME IPOs.Global Finance Journal. Bouzouita, N., Gajewski, J. F., Gresse, C. (2015). Liquidity benefits from IPO underpricing: ownership dispersion or information effect.Financial Management,44(4), 785-810. Carpenter, J. N., Whitelaw, R. F. (2017). The Development of Chinas Stock Market and Stakes for the Global Economy?.Annual Review of Financial Economics,9(1). Chen, J., Strange, R. (2012). Political economy of IPO underpricing: the evidence from China.Journal of Chinese Economic and Business Studies,10(2), 111-129. Chen, X. (2016).The impact of political connections on Chinese listed firms: a thesis presented in fulfilment of the requirements for the degree of Doctor of Philosophy in Finance at Massey University, Palmerston North, New Zealand(Doctoral dissertation, Massey University). Christofi, A., Bailey, B., Carroll, M. (2015). IPO Pricing Using the Implied Growth Rate in Cash Flow Valuation.Journal of Business Economic Studies,21. Cumming, D., Zhang, Y. (2016). 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Avian Influenza free essay sample

Avian Influenza, also known as bird flu, is a zoonotic disease with several different subtypes that affect mostly other birds, but few can be transmitted to humans. The most prevalent avian influenza virus in humans is the highly pathogenic Avian Influenza A (H5N1) virus, which has caused over 380 confirmed cases in 15 countries (Rabinowitz, 2010). Majority of cases have been transmitted via bird-to-human, with rare cases of human-to-human transmission. Continued exposure to the virus not only poses the threat of ongoing morbidity and mortality, but also the threat of H5N1 being able to adapt and change allowing sustained human-to-human transmission. (Rabinowitz, 2010). Human exposure to H5N1 begins with the natural host for the virus, wild birds, which is then transmitted to domestic birds, and then finally reaching humans as a host. Starting with wild birds, most commonly waterfowl, the virus lives in the intestines and is shed through fecal matter, saliva, and nasal secretions. Most wild birds are resistant to infections associated with avian influenza A. Wild birds are exposed to the virus when they come into contact with contaminated nasal, respiratory, or fecal material from infected birds, most commonly fecal to oral transmission (Korteweg Gu, 2010). Transmission to domestic birds, mainly poultry, can occur with direct contact with infected birds or indirect exposure through contaminated dirt, cages, water, and feed. Domestic birds have little to no resistance to the virus and suffer serious health issues, often resulting in death (Influenza Viruses, 2005). In the case a human is infected with H5N1, transmission routes are either through direct contact or indirect contact. Direct contact consists of people holding, catching, hunting, or playing with unknowingly infected birds. Slaughtering, defeathering, processing and preparing poultry for consumption are other ways a person can be infected through direct contact. Examples of indirect contact are touching contaminated surfaces and materials, swimming in or washing with contaminated water, living and working in areas with contaminated air, or ingesting the active virus in contaminated food (Rabinowitz, 2010). There is little evidence supporting human-to-human transmission and few cases have been confirmed. From what is known, intimate and close contact with infected individuals are possible routes of transmission (Avian Influenza A, 2005). The potential for H5N1 to develop into a strain easily transmissible from person to person in a sustained matter poses as a threat for a possible pandemic infection (Influenza Viruses, 2005). Signs and symptoms associated with H5N1 are much like those of the more common seasonal flu virus; fever, headache, sore throat, cough and rhinitis. Other symptoms include conjunctivitis, gastrointestinal complications, shortness of breath, lower respiratory problems, rhinorrhea, myalgia, diarrhea, leukopenia, lymphophenia, impaired liver function, renal impairment, and prolonged blood clotting (Apisarnthanarak, 2004). As of March 2011, over 530 confirmed human cases of H5N1 have been found in 15 countries since 2003 (WHO image 1), 85% occurring within Asian countries. Countries with the highest prevalence rates are Vietnam, Egypt, and Indonesia. Median age of those infected is 18 years old (Korteweg Gu, 2010). A contributing behavioral factor associated with the disease being more prevalent in children and young adults is the age groups participation in the slaughter, defeathering and cooking of poultry (Smallman-Raynor Cliff, 2008). H5N1 had not been seen in humans prior to 1997, first presenting itself in China. The virus was then seen again in humans in 2003, in Vietnam and again in China. By 2007, H5N1 had spread to Cambodia, Indonesia, Azerbaijan, Djibouti, Egypt, Iraq, Turkey, Laos, Myanmar, Nigeria and Pakistan (Smallman-Raynor Cliff, 2008). The following public health organizations have been working closely together to track and control recent outbreaks: World Health Organization (WHO), Organization for Animal Health (OIE), and Food and Agriculture Organization (FAO) (Smallman-Raynor Cliff, 2008). WHO has been responsible for providing recent data and statistics regarding H5N1 in humans. Avian Influenza is covered by GAR, WHO’s Global Outbreak Alert and Response Network, which is responsible for monitoring and keeping surveillance on the disease. OIE is responsible for reporting recent data relating specifically o outbreaks of avian influenza in animals. FAO, working collaboratively with OIE and WHO, â€Å"sets the context for national and regional strategies, policies, programs and projects designed to control and prevent the disease (Strategy and Policy)† from spreading. According to a study by Smallman-Raynor and Cliff (2008), fatality rates for H5N1 are greater than 50% in observed cases, which is muc h higher than the common flu virus. The virus has spread to over fifty countries on three continents, being labeled as a panzootic disease (animal disease equivalent to a pandemic in humans). H5N1 first crossed species barriers to humans in 1997 and has extended its host range to several other mammals, causing severe disease and death. An approach to control the spread of this disease amongst birds has been culling of exposed birds, quarantine and disinfecting. However, Avian Influenza continues to spread due in part to migratory birds becoming infected (Smallman-Raynor Cliff, 2008). The virus’s ability to evolve poses as threat and is currently classified by WHO at Phase 3 of the global pandemic alert for influenza.