Human Rights Watch Australia

Question: Depict about the Human Rights Watch for Australia? Answer: Presentation: Great administration is an important component of tough turn of events It is paltry. In east and Southeast Asia, the recently industrialized economy is the primary stick of the expanding social headway and the ongoing development of economy. Likewise It has adjusted estimates and structured attitudes toward the financial matters of advancement with around giving greatness being given toward the East Asian qualities and improvement situated power or an advancement State as a hopeful power for development of economy and social change. Human Rights is another consuming issue now a days. The privileges of human face genuine infringement on account of the expanding intensity of official specialists. Human rights are those rights which each person is brought into the world with (Sano, Alfredsson and Clapp, 2002). Due to various religion, age or other individual components like shade of skin these rights can't be denied. At some point it appears that there are numerous inconsistencies between Good Governance and Human Rights, particularly then the topic of utilization is come. In any case, in the book Human Rights and Good Governance altered by Hans-Otto Sano, an article Good Governance: How Does It Relate to Human Rights? the creator shows that how they are connected with one another, and at some point how they at some point cross their cutoff and damage one another. In any case, in the end the creator found that practically speaking really the Good Governance fortify human right. And furthermore great human rights condition likewise assists with accomplishing the primary objective of Good Governance that is Development The main fair nation on the planet at the present is Australia no bill of national rights. Some wide-extending type of legal safeguard for compulsory rights is in any case seen as an irreplaceable equalization and check in self-ruling mastery all through the world. Beyond question, no hallucination can be found of a self-sufficient country that has been raised a legitimate framework or another constitution in current years that has not in participated some human rights. Why Australia is then has become the avoidance? The reaction to this can be taken from an earlier time. Despite the fact that we and a lot more have that recognition that Australia is probably the most youthful nation yet in certainty it is one of the antiquated one in the entire world. The constitution of Australia is still absolutely as it was when approved in 1901, the constitution of Australia while returns to the period of 1850.the settlements of Australia, there lawful framework and the Australian constitution where imagined when with the notable special cases of bills of privileges of 1791 of US, through a single lawful instrument were not ensured (Chalmers, 2015). Without question, in United States there was no such order, on which the legitimate association is extensively based.aferthe second universal war and the affirmation of all inclusive human rights however till then the arrangement of organization of Australia was in administration for quite a long time. Not just has legitimate arrangement of Australia contradicted change but at the same time is old by world arrangement. This is yet progressively pertinent today, with the last unbeaten vote to change the Australian Constitution in 1977 when it was adjusted, in further things, to fix a retreat age for high court decided as 70 years. An extra eight inefficient plans are given to the individuals from that point forward. From the hour of 1977 is currently the longest period with no change in constitution of Australia. Other than this the accompanying longest stage was from 1946 1967. An article by max chalmers has clarified that for the second year in the line, Australia has made a disgrace rundown of worldwide human rights. We are not just coming toward the end in the universal human rights list however have been titled as the greatest human right abusers around the globe. There are 5 territories due to which Australia has been generally uncovered. (NEWS 1 Feb 2015 Human Rights Watch 2015: The 5 Biggest Issues Facing Australia By Max Chalmers) 1) Asylum searchers Australias treatment towards refuge searchers have been supervised higher than ever of ruthlessness by the Abbott government. Their uncertain detainment and poor and unfavorable security and not giving option to bid has improved their sufferings. Indeed, even UN high commission has condemned Australias displaced person strategies (WORLD REPORT, 2015). 2) Disabilities rights According to the reports out of the entire Australia, its 45 level of populace live beneath or about to the line of neediness and the request of the human commission has in the top additionally found that there are no satisfactory protections and a poor access for their help. Despite this, the job of incapacity segregation magistrate was nullified shorty by the alliance government. What's more, have additionally moved the individuals off the more lucrative handicap bolster benefits. 3) Marriage equity This strategy was some time in the past presented by the Britain preservation party and was very popular in Australia. In ACT, work had presented a law of same sex relationships just to have them turned by the high court and ACT law was passed.. Additionally regardless of David Camerons individual help, it was not grasped by the British preservationist party-more tory MPs casted a ballot against correspondence than decided in favor of it (Westerman, 2015). It was passed on the grounds that by far most of UK work MPs casted a ballot in favor. 4) The press on free articulation The report not just centered around the counter fear laws recently made yet has likewise scrutinized excessively wide new offense of supporting psychological oppression and has additionally proclaimed the confined territories. Likewise the consideration has been attracted to information maintenance laws which were pending and has additionally advised the media transmission industry to hold information for in any event two years and give ASIO get to. Phenomenal article by Max Chalmers. Anyway there are some other significant human rights mishandles being submitted by Lib-Lab Australia. (National Australia under the spotlight in Human Rights Watch World Report 2015) 1. The continuous Australian native decimation and Australian native ethnocide. It is assessed that in 1788 there were 300 unmistakable native language gatherings and 750 tongues of which just 150 endure and everything except 20 are jeopardized. On 26 January 1788 the British intrusion of Australia was completely demolished hitch included 600 Australian clans which were special and comparable number of vernaculars and the dialects. This made the native slaughter of Australia the most exceedingly awful decimation throughout the entire existence of human (News.com.au, 2015). The avoidable yearly pace of death from denies is 0.4% dad. South Africa which is devastated and the Australia being one of the most extravagant nation have same avoidable pace of death. Colossal native avoidable mortality and retreat from training in first language implies a continuous Australian native decimation and Australian native ethnocide. 2. War criminal and sequential trespasser Australia is presently occupied with its Seventh Iraq War. Subtleties: Australias First Iraq War (WW1, Australian Flying Corps (AFC; RAAF antecedent), 1915); Australias Second Iraq War (WW2, RAN, Basra, in Anglo-Iraq War, 1941); Australias Third Iraq War (Sanctions against Iraq, RAN, 1990-2003, 1.7 million Iraqi passings from hardship); Australias Fourth Iraq War (Australian powers to Iraqi Kurdistan, 1991); Australias Fifth Iraq War (Gulf War, RAN, 1990-1991, 0.2 million Iraqis killed); Australias Sixth Iraq War (Invasion and Occupation of Iraq, 2003-2011, 1.5 million furious passings, 1.2 million individuals kicked the bucket from hardships due the forced war; Australias Pine Gap is critical to focusing on US drone strikes, 2008-); Australias Seventh Iraq War (RAAF shelling, Iraq, 2014-). As a UK attendant or US toady Australia has differently attacked 70 nations (when contrasted with its partners the British 193, France 80, the US 70 and Apartheid Israel 12). 3. 80,000 preventable Australian passings every year. In the rundown of most extravagant nations, Australia is one of them yet 80,000people of Australia kicked the bucket preventable passings consistently (see Gideon Polya, Australian State Terrorism - Zero Australian Terrorism Deaths, 1 Million Preventable Australian Deaths 10 Million Muslims Killed By US Alliance Since 9-11, End: We should not overlook another maltreatment of human rights that is happening over our nation consistently. That is the infringement of our youngsters' physical uprightness by hurt caused to them by physical discipline in both the home and in certain schools. A correct which is given to our youngsters under the Convention on the Rights of the Child which Australia has marked and sanctioned and for this situation intentionally overlooked. There are currently 44 nations that have made it unlawful in household settings. Our nearest neighbor, New Zealand prohibited it in 2007 and it has not yet dropped into turmoil. In the interim in Australia, the conscious curse of torment is as yet utilized by Christian Schools in both WA and Old, but by a little division of those non-state schools. The fact of the matter being, that this old practice is as yet lawful. White Ribbon Australia, our Australian male-drove hostile to abusive behavior at home association, distributed its first strategy on the Corporal Punishment of Children, a year ago. It said to a limited extent: White Ribbon Australia is focused on forestalling savagery against women....corporal discipline is distinguished as both a type of viciousness and as a variable that may impact a childs later utilization of brutality in grown-up life. Hence, White Ribbon doesn't excuse the utilization of flogging as a methods for discipline. At last, Rosie Batty, our 2015 Australian of the year has as of late expressed that hitting kids isn't right yet then what does she think about family viciousness? The estimation of liberal political establishments is excessively profoundly instilled in mainstream thinking to make such an endeavor bound to disappointment. In reality, assaults on liberal vote based system are hazardous, for they are probably going to profit just the correct who are frequently dubious of the possibility of well known government. Or maybe the customary expansive left methodology of seeki

The Tragic Hero in Antigone free essay sample

Aristotle’s speculations on catastrophe were first settled during the fourth century in the Poetics, where he characterizes what makes an appalling legend. Aristotle recommends that an unfortunate legend is a character who has a high social standing and exemplifies incredible honorability in his/her character. They are neither a scalawag nor are they totally acceptable, yet an individual to some degree like us, raised to a higher situation in the public arena. Also, the destruction of a disastrous saint is brought about by issue of their own, frequently through presumption or pride, as the aftereffect of choice. It is activated by a shortcoming in their character or a mistake of their judgment, which is known as their disastrous blemish, or hamartia. The lamentable hero’s incident likewise surpasses the slip-up they made, which brings out feelings of pity and dread in the crowd. Their defeat isn't unadulterated misfortune, be that as it may, as the sad saint encounters mindfulness or information on their bad behavior. With this being expressed, the meaning of a lamentable saint is best upheld by King Creon in Antigone. His ruin is brought about by his mind boggling measure of pride, his sad blemish, and he stirs our pity and dread since he endures the most and perceives his bungle when it is past the point of no return. In any case, Creon was naturally introduced to honorability as the lord of Thebes. Creon’s tyrannous character is delineated through his negligence of family and solid commitment to the law toward the start of the play. The catastrophe starts with Creon’s decree to let the assemblage of Polyneices, his own nephew, to spoil and be eaten up by creatures. Any individual who attempted to cover him would be condemned to death. Creon accepted this was on the grounds that he was a double crosser to Thebes, and he believed the laws of men to be higher than those of the divine beings. As the ruler, the residents of Thebes sought him for all the appropriate responses, which caused him to assume that all that he did was correct. The statement, â€Å"My voice is the one voice providing orders in this City! † by Creon himself further shows his presumptuousness. His pride ends up being his shocking blemish as his proclamation prompted a series of occasions that prompted a few passings of Creon’s relatives since Antigone resisted his law, which he rebuffed her for. Creon made a mistake in his judgment in deciding if Antigone ought to be rebuffed in light of the fact that he was unreasonably worried for his open picture; he didn’t need to be overcomed by a lady. Since Creon was of tremendous position and his defeat was brought about by his deplorable blemish, being blinded by his pride, his character drives the crowd to accept that he is the awful saint. Antigone doesn't meet this measure since she realized that by covering Polyneices, she was happy to chance her life and suffer discipline on the off chance that she needed to. On her part, her choice was not a shortcoming of character, yet rather the inverse. In addition, Aristotle contends that the ultimate objective of a catastrophe is to lure pity and dread through a purge, which originates from viewing the lamentable hero’s terrible destiny. In Antigone, this is accomplished through Creon since he endures the most and truly feels regret for his activities toward the finish of the play. In Exodus, the delivery person says, â€Å"Creon was upbeat once, as I check joy: Victorious in fight, sole legislative head of the land, lucky dad of kids respectably conceived. Also, presently it has all gone from him! Who can say that a man is as yet alive when his life’s bliss falls flat? He is a mobile dead man. † This statement declares that everything was well in Creon’s world until he made his sad blemish. Presently, he should be dead since he lost his better half and child, the regard of his residents, and the chance of a decent the hereafter. Teiresias cautioned Creon that divine beings were disappointed with his declaration and would rebuff him for his pride, declining to acknowledge any type of contrition. In contrast to Creon, Antigone favored the divine beings in giving Polyneices an appropriate entombment, so she is relied upon to have a superior the hereafter. She didn't endure as much as Creon since she took her life unexpectedly by balancing herself rather than letting nature follow all the way through in the cavern, which would have been progressively agonizing for her. Since Creon is the most answerable for the all the dull turns in this play, he is left to languish over the ramifications for his activities considerably after death, which surpass his appalling defect. He had the most to lose, in this way bringing out sentiments of pity and dread in the crowd. Creon perceives his mix-up just when he loses everything and it is past the point where it is possible to invert the outcomes of his activities. He experiences a radical difference in character, upheld by his last proclamations in the play: â€Å"I have been imprudent and foolish†¦ Fate has carried all my pride to an idea of residue. † In this statement, Creon understands that he is to blame since he can’t control destiny and his pride took him no place. He even goes as far to concede that he slaughtered his child and spouse. The crowd feels frustrated about Creon since now he is distant from everyone else and lost the entirety of his pride and wonder as ruler. Creon experiences a lot of misfortune in view of his appalling defect and the crowd animates our pity and dread for him, making him the exemplification of a sad saint. His pride prompted his definitive ruin and he doesn't go along to Teiresias’ notice until it is past the point of no return. Creon shows the entirety of the attributes of an unfortunate saint, from being naturally introduced to a high social height to encountering disaster that isn’t totally merited. At long last, the laws of the divine beings beat the laws of men, which Creon has neglected to see. Creon winds up enduring because of his pride, which instructs a significant exercise on having the correct mentality and settle on the correct choices.

Pius II essays

Pius II expositions Pius II was conceived in the Sienese region on October 18, 1405. Pius learned at the colleges of Siena and Florence. He remained in the city of Florence to turn into an educator, in spite of the fact that in 1431 he excepted the inventation to be the secretary to Domenico Capranic. Domenico Capranic was the diocesan of Ferno and was headed to the Council of Basel to challenge Eugenius IV. In the wake of going to Basel Pius went with Capranic on numerous different undertakings. Pius was likewise sent via Cardinal Albergata on a mystery strategic Scotland, and keeping in mind that in Scotland additionally visited England. At the point when he returned he favored the committee about its contentions with the Pope. In spite of the fact that he was as yet a layman he despite everything assumed an immense job toward the board's choices. Pius was a nice individual, he had no exacting ethics and he wasn't very consistant with governmental issues. In 1445 he went to Germany to help the pope. He was very sucessfull in this, he assisted with settling the contrasts between the ecclesiastical court of Rome and the German majestic voters. In 1447 Eugenius passed on and his sucssesor was Nicholas V. Nicholas' first demonstration was to make Pius the minister of Trieste. In 1450 he was sent represetative by the head Fredrick to arrange his marriage with the princess Leonora of Naples, which was very sucsessfull. At that point in 1452 he went with Fredrick to Rome where the ruler wedded princess Leonora of Naples and was delegated the lord of the Romans. On Decemeber eighteenth 1456 he was made cardinal by Calixtus III. After two years; 1558 Calixtus III kicked the bucket and on August 10, 1558 Pius turned into his sucsessor. As pope Pius served the eventual benefits of the congregation. He was continually going after for the tranquility of Christiandom against Islam. He likewise began a commission for the change of the Roman court. Despite the fact that he was extremly bustling he despite everything discovered time for his writing. He had two significant works during this time. His topographical and ethnographical de ... <!

Robin Hood Case Analysis and Strategy Recommendations Free Essays

ROBIN HOOD Case Analysis and Strategy Recommendations Case Analysis Robin Hood and his band of Merrymen is the subject of this contextual investigation. In this investigation I discovered, Robin Hood’s principle issue was the expanding size of his band. At first, he had trusted that quality lay in numbers and the more Merry men he had, the better it would be for him to successfully battle against the sheriff’s organization. We will compose a custom exposition test on Robin Hood Case Analysis and Strategy Recommendations or then again any comparative point just for you Request Now He didn't place enough idea into controling the quantity of individuals being selected. The problem happened when the expanding number of men had made the band a partnership. The more men were enlisted into the association, the less up close and personal collaboration Robin had experienced with every one of his men. This would make it difficult for him to uphold rules and guidelines utilizing his old ways since carefulness was absent with the newcomers. Also, the ability to support the expanding number of individuals turned out to be exceptionally rare. Supplies should have been gotten from outlaying towns. This is an exceptionally away from of any extending association. A conventional structure should have been authorized and a chain of official gathering should have been built up in order to screen the expanded number of individuals in the association. The underlying crucial the band, â€Å"Rob the rich and provide for the poor† was not, at this point successful to the band. The assets acquired from the inside and out appropriation of the rich were done pleasing the expanding number of the individuals in the band. The statement of purpose must be modified to oblige the changing methods of the association. New techniques likewise should be acquainted with meet the store prerequisites of the band. In addition, there should have been an amendment to the destinations of the band in order to restrain the quantity of individuals being enlisted. This, as I would see it, is an essential worry that needs consideration. Robin Hood’s proposition to run a strategy of receiving a fixed travel assessment to whomever went through the Sherwood Forest appears to be attainable yet the Merrymen’s worry of endangering the allies’ support in their battle against the Sheriff is likewise applicable. Proposals In my assessment, Robin Hood’s primary goal ought to be to proper structure and association in the band. He needs to apportion somebody responsible for controling the quantity of newcomers and look for different methods of discovering arrangements for his men. When this is done, he needs to take the incredible danger of helping the aristocrats in their strategic salvage King Richard and reestablish back in influence. Thusly, Robin will have gotten his retribution and won't need to require the band’s nearness any more. Step by step instructions to refer to Robin Hood Case Analysis and Strategy Recommendations, Papers

Increases In The Global Crude Oil Price - Free Essay Example

CHAPTER 1 INTRODUCTION 1.1 Introduction The global crude oil price has been seen a sharp increase in recent years and has been widely reported in the daily newspaper or TV news. For example, popular business and financial US based website Bloomberg has been constantly providing breaking news headlines like à ¢Ã¢â€š ¬Ã…“The crude oil hits to level of $ 120 per barrelà ¢Ã¢â€š ¬? or à ¢Ã¢â€š ¬Ã…“Crude Oil Increases to 25-Month High as Commodities Gainà ¢Ã¢â€š ¬?. Besides, video clips are uploaded on the website with commentary by senior investment analyst on the last traded crude oil price with prominent TV host. It has been noted that rising crude oil prices has created jittery and uncertainty in the financial market. For example, any negative news on price increase or disruption to oil supply will cause stock market indices like Hang Seng Index, Nikkei 225, STI (Straits Times Index), Shanghai Composite, Seoul Composite, and others regional markets to fall sharply knee jerk reaction from the investors on panic selling . Theoretically, soaring of crude oil prices will cause inflation and inadvertently would cause interest rates to go up. Consequently, this would impact various segments of the financial market especially the stock market. It has been argued that continues rising on global oil price will eventually erode the company profit margin. Basher, Haug, and P. Sadorsky (2010) found that oil price can affect prices directly by impacting future cash flows or indirectly through an impact on the interest rate used to discount future cash flows along with in the absence of complete subst itution effects between the factors of production and rising oil price. For example, there would be an increase in the cost of doing business as cost of capital will increase. In financial terms, discounting the free cash flow with the higher discount rate (cost of capital) will cause the fair value of stock price valuation to decrease significantly from previous valuation. J.Happonen (2009) also highlighted that spiking high prices on crude oil will affect greatly the poor as fuel costs are most significant in food production and transportation cost. High oil costs also hit various economies on a macro-level. Commodity analysts employ various types of methodology e.g. fundamental or technical analysis to forecast the future trend of the crude oil price meanwhile investment bankersà ¢Ã¢â€š ¬Ã¢â€ž ¢ start to develops and launches a new commodity mutual fund or unit trust products to attract attention on the public. As a precaution and in order to protect their investment, risk adver se investors are moving their assets into the safer assets like precious metal, e.g.; gold, silver and etc. According to Basher Sadorsky (2006), oil is the lifeblood of modern economies. When growth of Growth Domestic Product (GDP) of the countries are rapidly increasing like BRICà ¢Ã¢â€š ¬Ã¢â€ž ¢s (Brazil, Russia, India, and China), total demand oil of the countries will increase significantly. There is a positive relationship between the crude oil price and global gold price trend in the market. The linkage of gold between the risings of crude oil price has been investigated and empirical studies show that the two commodities are correlated each others. P. Narayan, S. Narayan and Zheng (2010) examine the long-run relationship between gold and oil spot and futures markets at different levels of maturity and found a significant positive correlation between crude oil and gold price. The most oil producerà ¢Ã¢â€š ¬Ã¢â€ž ¢s Organization of the Petroleum Exporting Countries (OP EC) members are from Islamic country such as Iran, Iraq, Saudi Arabia, Libya, and etc. Based on the Islamic historical studies, Islamic law is forbids the use of a promise of payment such as fiat money USD dollar acting as a medium of exchange. Thus, most of members try to diversify their vast US dollar revenue holding into precious metals e.g. trade in gold Dinar and Dirham. The concept of Gold Dinar System was mooted out by our former Prime Minister Malaysia Tun Dr. Datuk Seri Mahathir on year 2002 before. The purpose of adopted the gold Dinar and Dirham is to represent the solely currency for international trade and prevent the Asia currency crisis 1997 to happen again. Meanwhile, some of the members also refused to accept USD as currency trade on the crude oil like Iran and Venezuela have been pushing for a switch to the euro to protect the value from further losses. This caused by US government adopted the ease monetary policy on keep printing their money to curb the recession economy. Ultimately lead to USD dollar depreciated value relative with the Middle East oil producersà ¢Ã¢â€š ¬Ã¢â€ž ¢ currency. 1.2 Problem Statement Oil has been an important commodity and influences the economic activities of the country. On the other hand, gold has been used as important hedging tools to hedge against inflation which among others has been caused by rising oil prices. At present, with the present escalating oil prices, the world economy is grappling to contain inflation and ensure that the economic growth is not derailed. As a result, commodities like crude oil and gold has been a subject of studies by academics in various countries. Gold has been used as a good indicator of expected inflation in the market while oil is a barometer for deflation. Thus, when inflation is expected, investors will divert their asset to the gold portfolio to protect their asset value. On the other hand, when deflation is expected investor will reallocate their funds and start to buy safer government bond. This reaction can partially be explained by behavioral finance whereby the investor is irrational and market is an imperfect . A large body of empirical research has been conducted on the impact of oil prices and other macro variables with relation to the stock market. Wang, CP. Wang, and Huang (2010) attempt to establish the relationships among oil price, gold price, exchange rate and international stock market. They investigated the fluctuations in crude oil price, gold price, and exchange rates of the US dollar against other various currencies on the stock price indices of the United States, Germany, Japan, Taiwan and China respectively, as well as the long and short-term correlations among these variables. G. Sharma, A. Mahendru, (2010) studies on the impact of macro-economic variables on stock prices in India. In Malaysia, Shaharudin and Hon (2009) extended the research to investigate the stock return in relation with firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s size and macroeconomic variables (Consumer Price Index, Industrial Production Index, Money Supply, Interbank Money Market Transaction, three months and six mo nths Treasury Bills Discount Rate and crude oil prices) and found that stock return were significantly influenced by selected macroeconomic variables. Based on the importance of two commodities prices and gold, this paper is attempt to investigate and address the significant level of relationship between the commodities and the selected 10 major sub-sector components indices in FBM Kuala Lumpur Composite Index (KLCI). There have been limited researches studies on the different degree of impact of the crude oil price, gold price, market return, and short-term interest rate against sub-sector components index. A small number of studies were mainly using stock index FBM Kuala Lumpur Composite Index (KLCI) as the general proxy for overall performance of stock market. However, the stock index consist a numbers of sub sector components index in FBM Kuala Lumpur Composite Index (KLCI) it may not be a true reflective of a particular contribution of a sector to the overall stock market in dex. Thus, in our research will studies on these and examine the degree of significant level for commodities impact to a particular sub sector composite index. 1.3 Objective of the Study The main objective of the study is to examine the relationship of majorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ sub-sector indices between the crude oil prices, gold prices, market return, and short-term interest rate. The study will includes the examination of correlation between sub sector indices and 4 other variables as mentioned earlier. A sub-analysis on the gold oil ratio will also be conducted. Gold oil ratio is a barometer of economic vibrancy and when times are good; the ratios indicator remains low and these reflect a relatively robust priceà ¢Ã¢â€š ¬Ã¢â‚¬ and demandà ¢Ã¢â€š ¬Ã¢â‚¬ for crude oil. When fear is pervasive or the economy slumps, the ratio is high, as gold is chased by investors looking for a safe haven. In other words, this would infer that when the current ratio is below the benchmark, gold price is either too cheap or crude oil is too expensive. When the ratio is greater than benchmark, it will mean otherwise. 1.4 Significance of the Study The economies of the world are now integrated in terms of trade and capital flows with formation of global network across different region. As such, when financial crisis occur, it will have systematic effect throughout the world. A clear example is the occurrence of U.S. Sub-prime crisis which happened in 2009 and present year Euro Zone Debt Crisis was created contagion effect to the global economy. With advancement of technology and innovation of financial product, risk adverse investors should be more alert on the important signals or indicators as a guide to monitor and time the market to avoid any unexpected risk. The aim of this paper is to study the relationship of oil prices, gold price, market return, and short-term interest rate on majors selected sub-sector index. The results on this study will add to the body of knowledge and assist policymakers like Bank Negara Malaysia as well as pratictioners such as corporate managers and investors to participate in the stock mar ket. It also enhance their understanding on the level of impact on the four (4) variables to the selected sub-sector indices. The Arbitrage Pricing Theory (APT) postulates that every investor believes that the stochastic properties of returns of capital assets are consistent with a factor structure. For the purpose on this study, the APT model was adopted in evaluating the major sub-sector components indices relationship with various macroeconomic risk factors. The conclusion of the study shall enrich investor understanding on some sub-sector industries relationships to macroeconomic risk factors. Thus, smart investors still have a chance to explore it and gain return on that sub-sector industries. 1.5 Definition of Terms KLSE (Kuala Lumpur Composite Index) The FBM Kuala Lumpur Composite Index (KLCI) is used as a proxy for the performance of the Kuala Lumpur Stock Exchange and comprises the largest 30 companies listed on the Main Board by full market capitalisation that meet the eligibility requirements of the FTSE Bursa Malaysia Ground Rules. The two main eligibility requirements stated in the FTSE Bursa Malaysia Ground Rules are the free float and liquidity requirements. London Bullion Market (LBM) (U$ Troy Ounce) price Index shows the performance of gold prices over time per troy ounce. The troy ounce is a weight measure for precious metals, which is still used in the Anglo-American zone. It is named for the French city of Troyes. Crude Oil WTI (West Texas Intermediate) Known as Texas light sweet, is a type of crude oil used as a benchmark in oil pricing. It is a light (low density) and sweet (low sulfur) crude oil. It is the underlying commodity of New York Mercantile Exchanges oil futures contracts. T-Bill band 4 T-Bill band 4 is type of money market instrument. The Malaysian Treasury Bills (MTB) issued by the Central Bank of Malaysia are tradable on yield basis (discounted rate) based on bands of remaining tenure (e.g., Band 4 = 68 to 91 days to maturity). The standard trading amount is RM5 million, and it is actively traded in the secondary market. This instrument represents the short-term interest rate in the Malaysia money market. The high or low interest rate will make bonds look more attractive than stock and consequently impact the stock price return. Sub-sector Price Index Major sub-sector prices index are the 10 majors sub-sector price index consist of Consumer, Plantation, Finance, Trading and Services, Industrial, Industrial Products, Construction, Mining, Properties, and Technology. Each index is representing overall performance instituted on sub-part of FBM KLCI index. CHAPTER 2 THEORETICAL FRAMEWORK AND LITERATURE REVIEW 2.1 Introduction This chapter provides a comprehensive review on the empirical evidences on four (4) variables and the theories on Arbitrage pricing Theory (APT) model and Efficient Market Hypothesis (EMH). It will provide a better understanding of the relationship between variables and sub-sector component indices performance. 2.2 Macroeconomic Factors Choo, Lee and Ung (2011) investigates the behavior of Japanese stock market volatility with respect to a few macroeconomic variables including gold price, crude oil price and currency exchange rates (Yen/US$). The authors using the performance of GARCH models and Ad Hoc methods to carried out a comparison study. Their results show that macroeconomic variables used in this study have no impact on the volatility of Japanese stock markets and the simplest GARCH (1, 1) model yields the best result. Maysami et al. (2004) study on relationship between macroeconomic variables and stock market indices: co-integration Evidence from Stock Exchange of Singaporeà ¢Ã¢â€š ¬Ã¢â€ž ¢s All-S Sector Indices and based on the study concludes that the Singaporeà ¢Ã¢â€š ¬Ã¢â€ž ¢s stock market and the property index form co-integrating relationship with changes in the short and long-term interest rates, industrial production, price levels, exchange rate and money supply. 2.3 Crude oil Based on the past study from Huang et. Al, (1996), they found that oil future returns do not have much impact on SP 500 Index. On the other hand, Al-Rjoub,Samer Am* (2005) investigated the effect of oil price shocks in the U.S. for 1985-2004 using VAR Mixed Dynamic and Granger Causality Approaches to study the whether the U.S. stock market react to the oil shocks, a big importer of crude oil. They found that from VAR suggests that oil shock affect the stock market returns in the U.S. oil price are important in explaining the stock market reactions. According to Basher Sadorsky (2006), oil is the lifeblood of modern economies and can have significant impact on the growth of a countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s economy. In addition, Driesprong, Jacobsen and Maat (2004) found that investors in stock markets under react to oil price changes in the short run. Recent study by Charles (2009) found that higher volatility in both gold price and oil price reduces volatility of stock price. Some studies directly tested the relationship between oil prices and stock values. Huang, Masulis and Stoll (1996) applied vector autocorrelation models to find the time-series relationship and concluded that crude oil futures lead stock prices of oil companies. However, they were unable to bring a conclusion for any significant relationship to other stock prices. In addition, the volatilities of crude oil futures lead the volatilities of oil industry stock index. A related study (Sadorsky, 1999) had different conclusion. It showed that oil prices as an important factor which predicts stock prices very well. Sadorsky (2003) used vector autocorrelation model to verify the importance of oil price, federal fund rate, CPI, foreign exchange as variables to describe the performance of technology stock prices. Hamilton (2008) examines the factors responsible for changes in crude oil prices and the statistical behavior of oil prices. The study includes the role of commodity speculation, Organ ization of the Petroleum Exporting Countries (OPEC), and resource depletion and found that although scarcity rent made a negligible contribution to the price of oil in 1997, the situation at present would be different and crude oil prices might play an important role. 2.4 Gold Melvin and Sultan (1990) consider a different approach of establishing the relationship between gold and oil markets. Their study was based on the implication of the gold prices through the export revenue channel. As gold is an integral part of the international reserve asset of several countries, including the oil producing countries, their finding reveal that stock shock will leads to expectations of official gold purchases and this in turn will make the expected future price of gold to soar higher. Sultan (1990) argue that when oil price rises, the oil exporters countries will benefit in terms of higher oil revenues. This in turn may have implications on the price of gold especially when the gold consists of a significant share of the asset portfolio of oil exporters (relative to other nations) and oil exporters purchase gold in proportion to their wealth. The impact on this will lead to an increase in demand for gold and subsequently rise in price of gold and ultimately an oil price rise leads to a rise in gold price. Ismail et al. (2009) develop a forecasting model for gold prices using Multiple Linear Regression Method to predict gold prices based on economic factors such as inflation, currency price movements and others. They argue that investor starts to invest their asset in gold because of depreciation of US dollar currency and gold as an important stabilizing role for investment portfolios. based on their findings, they conclude that many factors determine the price of gold and several economic factors such as Commodity Research Bureau future index (CRB); USD/Euro Foreign Exchange Rate (EUROUSD); Inflation rate (INF); Money Supply (M1); New York Stock Exchange (NYSE); Standard and Poor 500 (SPX); Treasury Bill (T-BILL) and US Dollar index (USDX) were considered to have influence on the gold prices. 2.5 T-bill (short term interest Rate) T-Bill rate is a benchmarking for short-term interest rate and is deemed as risk free. As such, T-Bill rate is normally taken into consideration for financial valuation purpose and widely used by financial institutions and academics especially to determine the fair value of stock pricing. Chan et al. (1992) reaffirmed that the short-term riskless interest rate is one of the most fundamental and important prices determined in financial markets. In referred to Damodaran (2002) published textbook Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, Choice of risk-free security the returns on both Treasury bill (t-bills) and treasury bonds (t-bonds), and the risk premium for stocks can be estimated relative to each other. This was based on the yield curve in the US that has been on upward-sloping for most of the past seven decades. The risk premium is larger when estimated relative to short-term government securities (such as Treasury bills). Damodara n (2002) also stated that the risk risk-free rate chosen in computing the premium has to be consistent with the risk-free rate used to compute expected returns. So, if the Treasury bill rate is taken into consideration as a risk-free rate, the premium has to be earned by stock over that rate. This applies to the Treasury bond rate as well and premium has to be estimated relative to that rate. He also mentioned that for the most part, in corporate finance and valuation, the risk-free rate will be a long-term default free (government) bond rate and not a Treasury bill rate. Thus, the risk premium used should be the premium earned by stocks over Treasury bonds. 2.6 FBM Kuala Lumpur Composite Index (KLCI) The FBM KLCI is taken as a proxy to represent the market growth optimal portfolio. This research paper attempt to construct and compare various total-return world stock indices based on daily data. The data was collected from DataStream Advance cover the period from 01 January 1973 to 31 August 2006. Due to the diversification, these indices are noticeably similar. This proposed method of constructing a proxy for the growth optimal portfolio has specific advantages over the methodologies of diversity weighting and market capitalization weighting. The diversified world stock index has applications to derivative pricing and investment management. Petttengill et al. (1995) developed a conditional relationship between return and beta that depends on whether the excess return on the market index is positive or negative. When the excess return on the market index is positive (negative), there should be a positive (negative) relationship between beta and return. Their empirical results support the conclusion that there is a positive and statistically significant relationship between beta and realized returns. Furthermore, consistent with Hodoshima et al. (2000), the results are similar when the test is done on 20 beta sorted portfolios. However, it seems that the negative relationships during down market are steeper in Tokyo Stock Exchanges (TSE), which seems to have contributed to have negative rewards for holding beta risk in the long run. Consistent with the findings of Pettengill et al. (1995) in the USA and Hodoshima et al. (2000) in the Tokyo Stock Exchange (TSE), the result found that there is a significantly positive relationship between portfolio beta and portfolio return during up markets and the relationship is significantly negative during down markets. Moreover, the test of individual stock return shows that this conditional relationship can even be seen in individual stock returns. That is, there is a significantly positive (negative) relationship b etween individual stock beta and individual stock return up (down) markets. However, the results of the study suggest that the beta-return relation, in the Tokyo Stock Exchange (TSE), seems to be negatively steeper during down markets, which seems to have contributed to have a negative reward for holding beta risk even in periods where the average market excess return is positive. Therefore, in conclusion, the results suggest that, though the slopes during down markets seem to be steeper than up markets, there seems to have a conditional relationship between beta and return, which justifies the continued use of beta as a measure of market risk. 2.7 Arbitrage Pricing Theory (APT) The Capital Asset Pricing Method (CAPM) is a single factor model it specific risk as a function of only one factor, the securityà ¢Ã¢â€š ¬Ã¢â€ž ¢s beta coefficient. CAPM has been considered as one of the main tools to study for the risk-return trade-off assets. CAPM has been widely referred and used in academic research and business financial studies. As long as the return for any asset is interrelated to one variable with its market beta, or the systematic risk, it is defined as the covariance of an assetà ¢Ã¢â€š ¬Ã¢â€ž ¢s return and the market return. CAPM implies that expected returns and market beta exists, and only market beta that efficiently exanimate the time series and cross-sectional tests for asset returns. CAPM has its restrictions, assume investors are rational and based on several assumptions that were not practical in the real world. According to empirical studies by Fama and MacBeth (1973), there are several variables e.g. the market value of equity ratio (MVE ), the earnings to stock price ratio (E/P), and the book-to-market equity ratio that having greater influence compare to market beta. Another study was carried out by Ross (1976) on the Arbitrage Pricing Theory (APT) which was considered a new modeling for CAPM. Ross refute through Arbitrage Pricing Theory (APT) that market beta is not the only variable to measure the systematic risk. There are multiple variables that have an effect on the stock returns beside market beta. The study tested on systematic, unconditional, and positive trade-off between average returns and beta. Perhaps the risk-return relationship is more complex, with a stockà ¢Ã¢â€š ¬Ã¢â€ž ¢s required return a function more than one factor. For example, what if investors, because personal tax rate on capital gain are lower than those on dividends, value capital gains more highly than dividends. Then, if two stocks had the same market risk, the stock paying higher dividend would have the higher required rate of re turn. In that case, required returns would be a function of two factors, market risk and dividend policy. The Arbitrage Pricing Theory (APT) can include any number of risk factors. So the required rate of return could function of two, three, four or more factors. The Arbitrage Pricing Theory (APT) is based on complex mathematical and statistical theory that goes far beyond the scope for discussion in this paper. Even though the Arbitrage Pricing Theory (APT) model is widely discussed in academic literature, the practical usage to date has been limited. The concepts of Arbitrage Pricing Theory (APT) which assume that all stocksà ¢Ã¢â€š ¬Ã¢â€ž ¢ return depend on only three factors: Inflation, industrial productions, and the aggregate degree of risk aversion (the cost of bearing risk, it was assume that this will be reflected in the spread between the yields on Treasury and low-grade bonds). The primarily theoretical advantage of the Arbitrage Pricing Theory (APT) is that it permit s several economic factors to influence individual stock returns, whereas the CAPM assumes that the effect of all factors, except those unique to the firm, can be captured in a single measure fewer assumptions than the CAPM and hence is more general. Efficient Market Hypothesis (EMH) The Efficient Market Hypothesis (EMH) was developed by Professor Eugene Fama. He said that an efficient capital market theory is one in which security prices adjust rapidly to the arrival of new information and, therefore, the current prices of securities should be reflected all information about the security. In simple terms, it means that no investor should be able to employ readily available information in order to predict stock price movements quickly enough so as to make a profit through trading shares. If markets are efficient, stock price will rapidly reflected all available information. There are different types of information available to incorporate into stock prices. Financial theorist have been developed the three form of market efficiency. There are three common forms in which the efficient-market hypothesis is commonly statedà ¢Ã¢â€š ¬Ã¢â‚¬ weak-form efficiency, semi-strong-form efficiency and strong-form efficiency, each of forms has different implications for how markets work. In weak-form efficiency, future prices cannot be predicted by analyzing prices from the past. The abnormal return cannot be earned in the long run by using investment strategies solely depend on historical data share prices. Moreover, technical analysis techniques will not be able to consistently produce an abnormal profit, though some forms of fundamental analysis may still provide excess returns. In semi-strong-form efficiency, it is implied that share prices adjust to publicly available new information very rapidly and in an unbiased fashion, such that no excess returns can be earned by trading on that information. Semi-strong-form efficiency implies that neither fundamental analysis nor technical analysis techniques will be able to reliably produce abnormal return. However, in strong-form efficiency, share prices reflect all information, public and private, and no one can earn excess returns. If there are legal barriers to private information becoming public, as with insider trading laws, strong-form efficiency is impossible, except in the case where the laws are universally ignored. CHAPTER 3 RESEARCH METHODOLOGY This chapter provides an outline of the research process designed to investigate the relationship between economic variables and Sub-sector price index. 3.1 The Data In this section, we will summarize our modelà ¢Ã¢â€š ¬Ã¢â€ž ¢s data and present the methodology of our model. The daily data for interdependent and dependable variables e.g. FBM KLSE (Kuala Lumpur Composite Index), T-Bill band 4, Crude oil WTI (West Texas Intermediate) price, London Bullion Market (LBM) (U$ Troy Ounce) price, and Sub-sector Price Index are collected from the DataStream and cover from period 17/04/2000 to 18/04/2011. There are 2610 daily observations obtained from DataStream. The data set is given in the Appendix of this paper. In relation on this, dependable variable are consists of ten (10) majorà ¢Ã¢â€š ¬Ã¢â€ž ¢s price index e.g., Consumer Product, Plantation, Finance, Trading and Services, Industrial, Industrial Products, Construction, Mining, Properties, and Technology. As can be seen from figure 1, there is an increasing trend on global gold price and reached ità ¢Ã¢â€š ¬Ã¢â€ž ¢s the highest point, $ 1,492.06, on 18th April, 2011. The gold price was tend ing to increased since year October, 2008. We believe this trend will continues increasing due to strong demand and short supply gold in the commodities market. Moreover, some expertise research firms like GFMS, a leading global precious metals consultancy, released its 2011 Gold Survey and GFMS expects that gold will reach $1,600 by the end of 2011. Another independent variable, Crude oil WTI (West Texas Intermediate) price known as Texas light sweet, is a type of crude oil used as a benchmark in oil pricing. As refer to figure 2, the oil price increase significantly during year 2007 and the reasons behind can be explained by the Asian growing demand on oil to sustain their economy growth. The past researchers also been reported, that oil consumption in India was increased approximately 8.7% according 1998 and 6.5% according to 2006. Mehmet Eryigit (2009) has studied and found that in year 2007, USA has been consumed the 23.9% of the total oil, however total share of the world o il consumption for China, India and Turkey in 2009 is only accounted 13.4% (China consumed 9.3%, India consumed 3.3%, and Turkey consumed 0.8%). Meanwhile, back to middle of year 2008 Sub-prime crisis was happened in U.S financial system and the crude oil price has reached to a minimum price $31, that is a minimum last trader price was reported since year 2004. After decreasing trend along the year 2008, early of 2009 crude oil price are at the recovery stages and maintained a reasonable price between $ 65 -$ 100 per barrels. We expect the crude oil price bullish will continue increasing. The next independent variable is Market returns FBM Kuala Lumpur Composite Index (KLCI). The Kuala Lumpur Composite Index (KLCI) is used as a proxy for the performance of the Kuala Lumpur Stock Exchange and comprises the largest 30 companies listed on the Main Board by full market capitalization. The last independent variable is T-Bill band 4. T-Bill band 4 is type of money market instrument. The Malaysian Treasury Bills (MTB) issued by the Central Bank of Malaysia Are tradable on yield basis (discounted rate) based on bands of remaining tenure (e.g., Band 4 = 68 to 91 days to maturity). This instrument are represents the short-term interest rate in the Malaysia money market. The high or low interest rate will make bonds look more attractive than stock and consequently impact the stock price return. Figure 1: London Bullion Market (LBM) (U$ Troy Ounce) Price Figure 2: Crude Oil WTI (West Texas Intermediate) Price 3.2 Conceptual Framework 1. Crude Oil WTI 2. London Bullion Market (LBM) (U$Troy Ounces) 3. KLSE (Kuala Lumpur Composite Index) 4. T-Bill Band 4 Sub Sector Price Index Consumer Product, Plantation, Finance Trading and Services, Industrial, Industrial Products, Construction, Mining, Properties, and Technology.The conceptual framework of this study was derived from literature review where proven macroeconomic variables like FBM Kuala Lumpur Composite Index (KLCI) are used as independent variables. The Crude oil WTI (West Texas Intermediate) future contract price, London Bullion Market (LBM) (U$ Troy Ounce) price, and T-bill band 4 had been widely used in evaluating a significant statistical relationship between dependent variables example on this research is sub-sector price index. Further to that, crude oil price is also proven to be a macroeconomic variable that direct impact to the conditional of the stock market. In fact, oil price can affect prices directly by impacting future cash flows or indirectly through an impact on the interest rate used to discount future cash flows. On the other hands, Gold is a long run eff ective hedging tool for hedge against inflation and political uncertainty. Fluctuation of gold price will send a signal to investors and theyà ¢Ã¢â€š ¬Ã¢â€ž ¢re start to expecting the stock market will going down in future. 3.3. Design of Study The Arbitrage Pricing Theory (APT) is an expansion model of Capital Asset Pricing Model (CAPM) Single à ¢Ã¢â€š ¬Ã¢â‚¬Å"factor model. That is, it specifies risk as a function of only one factor, the securityà ¢Ã¢â€š ¬Ã¢â€ž ¢s beta coefficient. In a reality, the risk / return relationship is more complex, with a stockà ¢Ã¢â€š ¬Ã¢â€ž ¢s required return a function of more than one factor. For example, CAPM method is not suitable on this research because there are a various interdependent variables effect the dependent variables. Thus, we should adopt the APT (Arbitrage Pricing Theory) model to define and analyses these factors. In additional, the statistical technique that simultaneously develop a mathematical relationship between a single depend variable and two or more independent variables. With the four independent variables the prediction of Y is expressed by the following equation: Regression equation is; Multi-factor Regression Model: Rit = à ¢Ã‹â€ ?+ BetaMRtMRt + Betaoil Oilt + BetaGoldGoldt+ BetaT-billT-billt (1) Indicators à ¢Ã‹â€ ? = Intercept / Alpha Rit = Return on major sub sector MRt = Market Returns Oilt = Oil Returns Goldt = Gold Returns T-billt= T-bill Returns Where the Sub sector price index is a dependent variable and it shows the return on the Sub sector price index. Beta is constant term and we have four (4) independent variables; Gold price, Oil price, Market returns, and short-term interest rate respectively. We used Ordinary Least Squares (OLS) method to evaluate the relationships between the Gold price, Oil price, Market returns, and short-term interest rate against the ten (10) sub sector price index. The market return was benchmark to the FBM Kuala Lumpur Composite Index (KLCI) composite share price index. Time series of T-bill band 4 taken considerations as a short-term interest rate and same time this instrument consider as a risk -free interest rate. The first steps, we required to find out the return of each independent and dependent variables using below formula: Daily return formula is calculated using as per below: Ri,t = (Pi,t Pi, t-1)/ (Pi, t-1) (2) Where; Ri,t is the price return of ith variable on time t Pi, t is the closing price of day t for variable i. Pi, t-1 is the closing price previous of day t for variable i. Then daily returns are aggregated that are our preliminary input to run regression analysis. The sample period for our study extends from periods 17/04/2000 to 18/04/2011. Then after, used the input and the multi-factor regression model to run the regression analysis on each interdependent and dependent variable to examine whether each of them have any significant relationship. In additional, the sub-part of the analysis section will examine the Gold Oil ratio analysis, the purpose is to determining whether the current Gold Oil ratio is below the benchmark ratio is either too cheap, or crude oil is too expensive otherwise when ratio is greater than benchmark, oil is either too cheap or gold. The analysis on Gold ratio trend will cover from period 17/04/2000 to 18/04/2011. The mean of gold oil ratio as an indicator for investor to decide whether the gold price is expensive, crude oil prices is cheap or the gold price is cheap, crude oil price is expensive. Using below formula: Gold Ratio = Gold Price0, t / Crude oil Price0, t (3) Where; Gold Price0, t is the closing price of day t for Gold. Crude oil Price0, t is the closing price of day t for Crude oil. CHAPTER 4 FINDINGS AND DISCUSSION This chapter presents the findings of the study and provide a through discussion and analysis of the findings. 4.1 Data Analysis To observe the effect of crude oil price, gold price, market returns, and short-term interest rates, the regression is calculated by using Ordinary Least Square (OLS) estimation procedure. Results are presented in Table 1. Referring to the result obtained from Ordinary Least Square (OLS) analysis, the result found that gold and market return have a positive significant statistical relationship with consumer price index at 5% significant level. These also make a same result for plantation price index. The result implies that gold and market return have a positive significant statistical relationship with plantation price index. Between, the trading and services index shows positive significant relationship with market returns but negative statistical relationship with gold. It implies, when the trading and service price index increase 1% the gold price will decrease 0.011%. Moreover, the regression model is statistically useful in explaining the variation in the Finance, mining, and technology price index with 95% confidence level. The result shows positive significant relationships with market returns. In additional, the industrial, industrial product, and properties price index regression model analysis results shows that market returns have a positive significant statistical relationship with three sub-sector price index. On the other hands, the industrial price index show negative significant statistical relationship with crude oil price at 5% significant level but the industrial product and properties have a positive significant statistical relationship with crude oil price. Finally, from the regression model analysis result found that, only the construction price index has a negative significant statistical relationship with t-bill at 5% significant level and others sub sector price index donà ¢Ã¢â€š ¬Ã¢â€ž ¢t have any statistical relationship with the T-bill. 4.2 Subpart Analysis Gold Oil Ratio Gold Oil Ratio is an expressed mathematically as the per-ounce price of gold divided by the cost of a barrel of crude oil, the ratio was telling us how many barrels of oil can be bought with an ounce of gold. Even though oil and gold are thought to be hedging on inflation, their price movements arent in lockstep. Since the 2001 launch of the current bull cycle, the correlation between U.S. benchmark West Texas Intermediate (WTI) crude oil and the London morning gold fix is only 23 percent. In fact, its the lack of a tight correlation that makes the gold/oil ratio meaningful. The ratio can fluctuated over time; since 2002, one ounce of gold could have bought between 11 and 16 barrels of oil. In midyear 2008, as oil prices surged, gold scraped a historic low at a 6x multiple (a 6-to-1 ratio). After half year later, the ratio had shoot to the 23x level after massive de-leveraging sent oil prices down $100 a barrel. The increasing trend of ratio kept continues from year 2009 unti l recent year. An article was written by Brad Zigler said; ità ¢Ã¢â€š ¬Ã¢â€ž ¢s fair to ask if the 15:1 ratio is still an indicator of economic equilibrium. In his articles highlighted that the breakaway point for the gold multiple in 2008 was around 12x. Fear has pushed oil prices violently higher and, consequently, the ratio lower. Table 1: Minimum and Maximum Gold Oil Ratio Record during the Period.  2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Max 15,18 15,74 13,85 11,67 8,94 11,08 12,54 23,11 28,05 17,55 16,29 Min 9,14 10,56 9,35 11,67 6,96 8,22 8,33 6,52 13,15 13,69 13,98             Table 2: Summary Table  Consumer Product Plantation Finance Trading services Industrial Industrial Product Construction Mining Properties Technology Market return à ¢Ã‹â€ Ã… ¡ à ¢Ã‹â€ Ã… ¡ à ¢Ã‹â€ Ã… ¡ à ¢Ã‹â€ Ã… ¡ à ¢Ã‹â€ Ã… ¡ à ¢Ã‹â€ Ã… ¡ à ¢Ã‹â€ Ã… ¡ à ¢Ã‹â€ Ã… ¡ à ¢Ã‹â€ Ã… ¡ à ¢Ã‹â€ Ã… ¡ Oil ÃÆ'— ÃÆ'— ÃÆ'— ÃÆ'— à ¢Ã‹â€ Ã… ¡ à ¢Ã‹â€ Ã… ¡ ÃÆ'— ÃÆ'— à ¢Ã‹â€ Ã… ¡ ÃÆ'— Gold à ¢Ã‹â€ Ã… ¡ à ¢Ã‹â€ Ã… ¡ ÃÆ'— à ¢Ã‹â€ Ã… ¡ ÃÆ'— ÃÆ'— ÃÆ'— ÃÆ'— ÃÆ'— ÃÆ'— T-Bill ÃÆ'— ÃÆ'— ÃÆ'— ÃÆ'— ÃÆ'— ÃÆ'— à ¢Ã‹â€ Ã… ¡ ÃÆ'— ÃÆ'— ÃÆ'— à ¢Ã‹â€ Ã… ¡ = Significant at 5% ÃÆ'— = No significant at 5% Table 3: ANOVA Table: Components Consumer Product Plantation Finance Trading services Industrial Coefficient Intercept 0,0002420 0,0003258 0,0000982 (0,0000444) 0,0000733 KLCI PRICE INDEX 0,5623974 0,9784759 1,0645010 0,9994746 0,7729328 Crude oil (0,0054988) (0,0018498) 0,0025010 0,0026129 (0,0109819) Gold 0,0158866 0,0441310 (0,0037211) (0,0112407) 0,0098721 T-bil (0,0034387) (0,0048518) (0,0059951) 0,0023219 (0,0004433) Adjusted R Square 0,5606859 0,5041736 0,8081372 0,8927299 0,6798043  P-value Intercept 0,00310016 0,04191723 0,24917804 0,43452323 0,39876364 KLCI PRICE INDEX Crude oil 0,0931 0,7729 0,4634 0,2512 0,0016 Gold 0,0258 0,0016 0,6160 0,0233 0,1922 T-bil 0,4479 0,5845 0,2042 0,4613 0,9267 Components Industrial Product Construction Mining Properties Technology Coefficient Intercept (0,0000330) (0,0001192) 0,0006207 (0,0000617) (0,0006292) KLCI PRICE INDEX 0,7928138 1,1884864 0,8354046 0,9573352 0,9419663 Crude oil 0,0092151 0,0029884 (0,0115321) 0,0112074 0,0049796 Gold 0,0145574 0,0093185 (0,0493598) 0,0059426 0,0372188 T-bil (0,0030311) (0,0202644) 0,0016072 (0,0024516) (0,0004453) Adjusted R Square 0,6357414 0,6109031 0,0462843 0,5468360 0,3246577  P-value Intercept 0,73923273 0,44480430 0,30905151 0,66749650 0,00515217 KLCI PRICE INDEX 0,000000 0,000000 Crude oil 0,0203 0,6323 0,6369 0,0515 0,5801 Gold 0,0918 0,4929 0,3531 0,6349 0,0574 T-bil 0,5810 0,0191 0,9621 0,7582 0,9715 CHAPTER 5 CONCLUSION AND RECOMMENDATION 5.2 Assumptions and Limitation of the Study There are five important variables involved in this study which include four (4) independent variables and one dependent variable. In obtaining data for each variable, this study had outlined the research framework with several assumptions and limitations to enable data collection to be done. T-Bill band 4 considered to be the short-term interest rate (risk-free interest rate). KLSE (Kuala Lumpur Composite Index) represent as a benchmark for the market return. Using Crude oil WTI (West Texas Intermediate) future contract price, is a type of crude oil used as a benchmark in oil pricing and underlying commodity of New York Mercantile Exchangeà ¢Ã¢â€š ¬Ã¢â€ž ¢s oil futures contracts. London Bullion Market (LBM) (U$ Troy Ounce) price. This index shows the performance of gold prices over time per troy ounce. The troy ounce is a weight measure for precious metals. Consists of 10 majors sub-sector price index e.g. Consumer, Plantation, Finance, Trading and Services, Indust rial, Industrial Products, Construction, Mining, Properties, and All research data are limited from period 17/04/2000 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 18/04/2011.

Describe Human Resource Management in Organisations in New Zealand - Free Essay Example

Describe human resource management in organisation in new zealand 1. PURPOSE OF HUMAN RESOURCE MANAGEMENT 1.1:-The purpose of Human Resource Management (HRM) is to hire, train and develop staff and where necessary to discipline or dismiss them. Through effective training and development, employees at Enterprise achieve promotion within the company and reach their full potential. This reduces the need for external recruitment and makes maximum use of existing talent. This is a cost-effective way for a business to manage its people. The human resource management (HRM) function in New Zealand organize the operational aspects individually with employment relationship with recruitment and selection for the worldwide relations, salaries etc. 1.2:-The Treaty of Waitangi is New Zealands founding document. It takes its name from the place in the Bay of Islands where it was first signed, on 6 February 1840. The Treaty is an agreement, in Maori and English that was made between the British Crown and about 540 Maori rangatira (chiefs), this day is remembered andcelebrated bya public holiday in New Zealand. Over generations, this document has caused many a heated debate over the differentperceptions of the document, having been lost and altered through translation. As a result, the Waitangi Tribunal was established in 1975, a permanent commission of inquiry charged with making recommendations on claims brought to them by Maori, relating to actions or omissions of the crown that breach understood promises made in the Treaty of Waitangi. Thefamous documentis a covenant between the Crown and Maori. Businesses that are not Crown entities are not required to include the Treaty of Waitangi in their business policies and practices, though many do.In most cases, showing some regard for the Treaty relationship in employment is encouraged. As outlinedon the website of Immigration New Zealand:Having knowledge of the Treaty of Waitangi can be useful forwhen: Working alongside Maori Working on issues that affect Maori Maori protocol is recognised in your workplace Maori health, economics and politics are points for discussion 1.3:- The most apparent impact of international race relations incidents on New Zealand is that we have begun to look at the issue of diversity more closely. It is now apparent that Government and communities cannot take for granted the relatively peaceful environment that we enjoy in this country. Nor can we assume that our à ¢Ã¢â€š ¬Ã‹Å"fair goà ¢Ã¢â€š ¬Ã¢â€ž ¢ ethos is the experience of ethnic minority communities. A strategic approach for dealing with diversity is vital to the future. There is now an increased focus on the topic of diversity on a number of levels including within communities. The increased sensitivity to the issues provides an ideal environment for an honest and robust dialogue on the challenges posed by New Zealandà ¢Ã¢â€š ¬Ã¢â€ž ¢s increasing diversity. In this regard, global racial incidents have presented us with an opportunity to deal with diversity more constructively. An old Chinese proverb states that behind every crisis lies an opportunity. We must actively utilise the opportunity we now have to consider how we should strategically deal with ethnic diversity. In doing this, we must be mindful of New Zealandà ¢Ã¢â€š ¬Ã¢â€ž ¢s unique context. There are many positive elements here that we can draw from. Internal environments of new Zealandà ¢Ã¢â€š ¬Ã¢â€ž ¢s organizations: 1.4:-A small organization covers the aspects of productivity in local areas with short investment of capital. Small organizations do business with effective planning according to the sources Large organization make wide range of products to customers globally large organizations do business at higher level with the large number of employers and employees to achieve the goal of customer satisfaction and to provide products with less time to deliver. Public organizations basically for the social welfares and the government owner public organizations so public organizations take out expenses with the help of government. Public organization aims to provid e things accor4ding to customer needs. Private organizations business managed by individual and it may be by maximum two partners so basically ità ¢Ã¢â€š ¬Ã¢â€ž ¢ s the personal business and organized by the working experience of owner the internal environment depends on the way of the owner how person wants to run business 1.5 HRM IN SMALL SCALE ORGANISATION:-For the successful running of a business organization, role of human resource management cant be ignored. It is HR of the organizations, which select the talented and skilful professional for the organization, which are the key for the successful running of the organization. HRM needs the effective planning so according to the capital the owners should manage all the things. HRM IN LARGE SCALE ORGANISATION:- HRM in large scale organizations large scale organizations need to provide productivity not only in country but globally also so with the investment they should try to make control in internal environment HRM IN PUBLIC ORGANISATION:-Staff members need the working experience of communication skills because all the public organizations do business with the same and one goal of customer satisfaction HRM IN PRIVATE ORGANISATION:-HRM depends on the working criteria of the owners because ità ¢Ã¢â€š ¬Ã¢â€ž ¢s interlinked with the personal business but the owners canà ¢Ã¢â€š ¬Ã¢â€ž ¢t ignore the basic policies of HRM. 2. MAIN FUNCTION OF HUMAN RESOURCE MANAGEMENT 1. Human resource planning:- Human resources planning provides a framework for your company to follow in its mission and daily operations. Developing a solid human resources plan also gives you an outline of what priorities you need to focus on as you guide the employees to help the company succeed, and to be sure your staffing needs are met, with no down time in production or service (i) In small organisation:-It is the process whereby organizations determine the staffing support they will need to meet business needs and customer demands. There are a variety of considerations that impact this planning, including impending retirements and transitions, the availability of employees with certain skills sets and changes in the environment that may require training for existing employees. (ii) In large organisation:- An larger organizations a centralhuman resource planningunit responsible to senior management needs to be established . The main objectives of this are to co-ordinate and reconcile the demands for human resources from different departments, to standardize and supervise departmental assessments of requirements and to produce a comprehensive organizational plan. (iii) In public organisation:- Human resource planning has traditionally been used by public organizations to ensure that the right person is in the right job at the right time. Under past conditions of relative environmental certainty and stability, human resource planning focused on the short term and was dictated largely by li ne management concerns. (iv) In private organisation :- People are the most valued asset of the organization, be it private or public, human resources are endowed with such uncommon qualities as creativity, problem solving ability and they can be motivated, they can as a team. 2. Recruitment, selection appointment:- Recruitment is the process of attracting interest and applications for a vacant position in Councils organisational structure. Whereas selection is the process of choosing the best person for the vacant position. This process includes the short listing of applicants for interview, developing questions for the interview, interviewing of applicants and selecting who should be offered the position based on merit. And Appointment covers the administrative processes to place and start the successful applicant. (i) In small organisation: The aim is that in small organisation the Recruitment and Selection Policy and Procedures document tabled at the meeting be endors ed by Council. The recruitment and selection process is based on merit, expressed in terms of the essential and desirable criteria established, and is in line with the policy of equal employment opportunity. (ii) In large organisation:- It is recognised that recruitment and selection processes are of crucial importance to the promotion of equal opportunities and that these processes must be carried out according to objective, job related criteria which do not give rise to discriminatory practices and which result in appointments based on merit, qualification and experience that ensure the Universitys ability to perform its duties. (iii) In public organisation:- The Department of Education (the Department) recruits, selects and appoints staff based on the principles of merit, equity and transparency in accordance with the Public Sector. (iv) In private organisation: Many human resources practitioners spend a great deal of their time engaged in activities associated with the recruitment and selection of staff. This can range from one-off recruitment episodes to major recruitment campaigns carried out to recruit and select replacement staff, staff with specialist skills, trainees, graduates, etc. 3. Performance management:-An assessment of an employee, process, equipment and other factors to gauge progress toward predetermined goals. (i) In small organisation: The performance management process, where individual objectives are linked to organisational .Goals, is the typical starting point of the cycle and goal-setting usually occurs in line with annual standard review cycles (ii) In large organisation: Business pressures are ever-increasing and organizations are now required to become even more effective and efficient, execute better on business strategy, and do more with less in order to remain competitive. The purpose of performance management to improve individual organisation performance. (iii) In public organisation:- Performance man agement is the handy umbrella term for all of the public organizational activities involved in managing people on the job. The purpose of performance management in public sector to reduce employee turnover and increase retention and engagement (iv) In private organisation: Performance management in public sector is best defined as a development of individual and competence and commitment, working towards the achievement of shared meaningful objectives within an organization that supports and encourage their achievements. 4. Remuneration :- Rewardforemploymentin theformofpay,salary, orwage, includingallowances,benefits(such ascompanycar, medicalplan,pension plan), bonuses,cashincentives, andmonetary valueof the noncash incentives. (i) In small organisation: As a remuneration the small organisations core business provide their client with senior consultants who are highly skilled and experienced in their specialist area. (ii) In large organisation: The Secretary of State for Business, Innovation and Skills announced a package of measures to address failings in the corporate governance framework for directorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ remuneration. This included: giving shareholders more power through binding votes, so they can hold companies to account boosting transparency so that what people are paid is clear and easily understood working with responsible business and investors to promote good practice and ensure reforms have a lasting impact (iii) In public organisation:- Like in ANZ bank. There remuneration and benefits are structured to reward people for their individual and collective contribution to their success, for demonstrating anz values in action, and for creating and enhancing value for all ANZ stakeholders. (iv) In private organisation: the private agencies logic is used as a justification to provide alignment between executive and shareholderà ¢Ã¢â€š ¬Ã¢â€ž ¢s interest .whereas the pay for performance logic states that an executive remuneration should be linked to firm performance. 5. Health, safety and wellness: Workplace safety and wellness programs benefit employers and their employees. (I) In small organisation: It encourages teamwork and an active, systematic approach to promoting health and safety in the workplace. (ii) In large organisation: They give employees a reasonable opportunity to participate effectively in health and safety procedures and improvements. If they have more than 30 employees they must develop a participation scheme. (iii) In public organisation:- Like in anz .There approach to health, safety and wellbeing aims to support the physical, emotional and financial wellbeing of their people. (iv) In private organisation: They allow their elected health and safety representative to attend anapproved health and safety training course, plus up to two daysà ¢Ã¢â€š ¬Ã¢â€ž ¢ paid leave to attend. 6. Training and development: Training and Development is the field concern with organizational activities which are aimed to bettering individual and group performances in organizational settings. (I) In small organisation: Training development has implications for productivity, health and safety at work and personal development. All small organisations employing people need to train and develop their staff. (ii) In large organisation: Training and Development is the framework for helping employees to develop their personal and organizational skills, knowledge, and abilities. (iii) In public organisation:- All employees want to be valuable and remain competitive in the labour market at all times, because they make some demand for employees in the labour market. This can only be achieved through employee training and development in public sector. (iv) In private organisation:- Most private organisations are cognisant of this requirement and invest effort and other resources in training and development. 3. Legislation: Legislationis the act or process of making or enacting laws. Legislation can have many purposes: to regulate, to authorize, to proscribe, to provide (funds), to sanction, to grant, to declare or to restrict. The owners can get the rights but according to rules which is called legislation. (i) Employment relations act 2000:- Purpose: To build productive employment relationships through the promotion of good faith in all aspects of the employment environment and of the employment relationship . Importance: This act is made for the support by the company only the work done is not the thing company need to coordinate, cooperate by nature. Impact: Employers, employees and unions must deal with each other in good faith and are not allowed to mislead or deceive each other. (ii) Health and safety in employment act 1992:- Purpose: The Act is about making work activities safe and healthy for everyone connected with them. It seeks to achieve that firstly by recognising that Constructive employment relationships generate safe and healthy workplaces. Importance: Health and safety is first step and first aid should be provided by the company if unfortunately accident happened at workplace. Impact:- Basically it helps for the new employers if they donà ¢Ã¢â€š ¬Ã¢â€ž ¢t have experience the work on machines can make serious injuries to health. (iii) Holidays act 2003:- Purpose: The purpose of this Act is to promote balance between work and other aspects of employeesà ¢Ã¢â€š ¬Ã¢â€ž ¢ lives and, to that end, to provide employees with minimum entitlements to annual holidays to provide the opportunity for rest and recreation: Importance: This act helps for the refreshment so that all the staff members can start work again after breaks with new energy so company should provide good welfares as the company do softness then staff members also try to work with full efficiency Impact: This act helps to make friendly relation between the company and the staff members. (iv) Human rights act 1993:- Purpose: The purpose of this act is to protects people in New Zealand from discrimination in a number of areas of life. Discrimination occurs when a person is treated unfairly or less favourably than another person in the same or similar circumstances. Importance: It helps to overcome problem in the sudden misshaping when the accidents happened. Impact: It helps financially due to support of company as it help to overcome probl em. (v) Privacy act 1993:-. Purpose: The collection is for a lawful purpose connected with a function or activity of the agency collecting the information. Importance: Personal date safety is must and company should be guaranteed that all data of staff members is safe from each other Impact:- If companies make someone the team leader from others someone can feel jealous he/she can try to take bank account with plan and it can effect badly to that team leader. (vi) Treaty of Waitangi act 1975:- Purpose: The purpose of this Act is to enhance the public good and reinforce the social contract represented by the first accident compensation scheme by providing for a fair and sustainable scheme for managing personal injury that has, as its overriding goals, minimising both the overall incidence of injury in the community Importance: The treaty of Waitangi helped to resolve problems between the relationship of Maoris and British government Impact:- Owing to this act lot of developments were held and several acts are held after that to protect people provide better life and increase the economy rate of new Zealand.

Green Information Systems Sustainability - 2721 Words

Zachary J Vaught Green Information Systems: Sustainability Syracuse University Green Information Systems: Sustainability Introduction Today’s society is one that is centered on the use of modern technology. Walking down the street during the day, one would be hard pressed to not to find people with their faces buried in their phones or tablets, checking their email, social media, or whatever it may be. Technology provides a means for people to stay connected with one another, accomplish certain tasks on the go, and much more. However, the constant use of technology that is seen in society today also uses up a myriad of resources, raising questions as to the future. It is also not just technology that is using up the†¦show more content†¦It’s important to live in the present, but to also be prepared for the future. This brings in the concept of sustainability. It’s important to make sure that future generations will also be able to fulfill their needs on this earth, which will not be possible if all of the resources are used. Sustainable development is something that needs to be imple mented into business strategies more and more. And while technology can sometimes be the problem, using it the right way, can also be a solution (Boudreau, 2007). Stages of Sustainable Development The first thing to focus on is the different stages that are associated with sustainable development. According to Stuart Hart, there are three stages: Pollution Prevention, Product Stewardship, and Clean Technology (Hart, 1997). Pollution prevention is just what it sounds like. The goal is to minimize the waste before it even has a chance to be created (Hart 1997). To do this, it is imperative that organizations are constantly adapting and improving their efforts. Pollution prevention is based on staying ahead of the game and ending waste before it can begin. Product stewardship takes things one step further than pollution prevention does. Pollution prevention is mainly pertaining to minimizing waste from manufacturing. In addition to this, product stewardship also focuses on minimizing the impacts that the life cycle of a product can have as well (Hart 1997). Many