Sexual politics in adolescent Speech or Presentation

Sexual politics in adolescent - Speech or Presentation Example Usually these physical changes occur after the puberty period. A man is taller and heavier than an average woman is. Similarly, a scientific research study shows that the strength of a male is 30% more than females. Women have more fats in the body as compare to men. Usually teenage girls are not fat but as the puberty signs show they used to put on some weight. The difference in the levels of hormones is also considerable in both female and male body. In addition to puberty, there are some other considerable changes in the human body as the individual grows into an adult. A male brain consists of more brain cells and tissues as compare to females. Females’ sense organs are more sensitive to sound signals as compare to men. A male body skin is more thick and oily as compare to a female one. Major body organs like lungs and heart are larger in men. Bone development is faster in females as compare to males (Main 2010). After the puberty starts, the brain development is faster in the individuals. The developmental changes in the brain helps them to further feel their hormonal changes also. Like other organs, there is a difference in the brain structure of men and women. Males’ brains are larger and denser as compare to the female brain. Research studies show that the difference in the sex hormones can be witnessed during the 26th week of pregnancy. The language use and the motor skills are more developed in a female as compare to male because of the efficiency in that particular part of the brain. Learning disabilities occur in boys frequently as compare to the girls. The signs of puberty start signaling in girls earlier as compare to boys. But the brain maturity is faster in boys as compare to girls. An author is of the opinion that men and women behave differently when they become powerful after puberty changes (Lowen 2013). These differences can be discussed under the

BUS503 - Org. Change and Transformation Mod 4 SLP Essay

BUS503 - Org. Change and Transformation Mod 4 SLP - Essay Example ices, structure and leadership of the organization, redesign of the upper management structure, improving the accountability of present leadership, full evaluation of external factors relating to staff going elsewhere after training, and becoming a learning institution with good knowledge management. These are not easy changes and the commitment to make such changes must come first (Banker & Alban, 1997), as the configuration of the organization is changed. This is an organization in trouble at this time and it is very possible that the Human processual approach will not help at this time due to the slow incremental scale of the change. This change needs to happen more rapidly. The technostructural approach will need to be used to approach the changes in accountability for the different jobs and the job descriptions. The structure of the organization must change, removing silos and building a team structure. Multi-faceted approaches include as many different groups as possible and the is the approach that will need to be used most often here. There are many departments in a hospital and they all depend on each other to provide quality patient care. It will be important to include each of these departments in the process of change or run the risk of on providing a change that does not completely blanket the institution (Caluwe & Vermaak, 2004). The large groups approach will need to work hand in hand with these multi-faceted groups. All of the symptomology noted in the original case study relate to such things as external environment, leadership, organizational culture and structure as well as management practices. The Burke- Litwin model best suits this case because it incorporates all of these variable. The suggested changes in this paper are designed from the needs shown in the original study and the ability of the Burke-Litwin model to deal with those. With those things in mind, the management structure must change, the senior team needs updated management

Relationship between Accounting Information and Market Risk

Relationship between Accounting Information and Market Risk Financial theory describes risk assessment as one of the most important part in an investment decision making process.  However, for a risk to be known, it is important for investors to interpret information flowing on the market. This study aims to examine the association between accounting information and the market risk over time. It also evaluates how far the beta value and accounting variables can be useful for investors in Mauritius. Beta estimates are calculated using Capital asset pricing model and accounting risk variables are derived from theoretical foundations and prior empirical findings. The relationship between the financial ratios and the level of systematic risk is obtained by regressing the variation in the beta against changes in the accounting variable. The empirical evidence shows that beta is valid on the Stock Exchange of Mauritius (SEM). However, the power of beta is relatively low in capturing the systematic risk. This finding is in line with Campbell (1995) who obtained similar observation for emerging equity market and with Bundoo (2000) who noted same result. Finally the result shows that a strong association exist between accounting variables and market risk and it also observed that this relationship is consistent over time. Accounting variables like growth rate, debt ratio, asset size, liquidity, profit margin and accounting beta are able to capture market risk where beta generally provides a high explanatory power of systematic risk. The findings contradict the some of the association between the market risk measures and accounting risk measure obtained Beaver et al (1979).   1  Introduction The growth experienced in the Stock Exchange of Mauritius (SEM) during the years 1989 to 2007 was with no precedence. Stock prices of quoted companies on the SEM boomed, causing a high influx of capital which caused the market to rise to its peak with a net market capitalisation of MUR 173 billion in the end of the financial year 2007. Local investors who had investments in fixed deposits from local commercial banks shifted some of their investments to the SEM, with view of higher return. But Stock prices started to fall soon after the end of the month of February 2008 and within a year the SEMDEX reached a position which was a low as the values experienced in September 2006. While this fall was largely attributed to the morose international situation, as a result of the international financial crisis; there is also the question whether the SEM effectively capture risk which is inherent by companies quoted and how far investors in Mauritius used the publish financial information to evaluate and predict the level of risk in the operating environment. Financial markets serve a key purpose in an economy by allocating productive resources among various areas so as to enable an efficient resource allocation, across different firms, investors assess the security and market expected prospects and risks and form a portfolio of investments based on their assessment. Security analysis usually involves an evaluation of the financial position and performance obtained from the financial statements published periodically by companies. In an efficient financial market the share prices is expected change to the fair value of the firm as new information flows into the market. Financial theory describes risk assessment as one of the most important part in an investment decision making process. The return of a stock is often considered to be narrowly related with the risk which the investor is taking while holding that stock. This makes the generally accepted principle that the higher is the risk in investing in an asset, the higher should be the asset’s expected return. This implies that there is a positive correlation between risk and expected return in holding a stock. 1.1  Problem Statement The analysis of stocks return is intricately linked with the analysis of risk. Empirical studies carried by Graham et al (2001) has shown that the Capital Asset Pricing Model (CAPM), (an asset pricing tool which uses risk as a basis to calculate assets return) is used, by more than seventy five percent of the chief financial officers, as primary tools in the portfolio selection process. However some authors in the capital markets literature (Campbell (1995) and Chan et al (1991)) have argued that in the case of emerging stock exchanges the CAPM is inapplicable and beta is not significant. However, for a risk to be known, it is important for investors to interpret information flowing to the market. Fama (1963) described three generic forms of market efficiency based on the market reaction to inflow of information. Markets which react to all past information are said to be in its weak form, those markets which react to all past and publicly available information are referred to as semi-strong efficient markets and those which react to all past, public and private information are considered as strongly efficient markets. A study made by Bundoo (2008) showed that Stock Exchange of Mauritius (SEM) has the characteristics of a market in its weak form. This implies that the SEM effectively responds to past information. Yet there is absence of empirical research which evaluates whether market return and risk are effectively pictured through accounting ratios. 1.2  Aims and objectives This paper aims at analysing the share prices in the SEM and key accounting ratios to evaluate the financial position, performance of a sample of companies quoted across various economic sectors of the SEM with the view of answering the above question. It also seeks to test whether investors can trust beta in their decision-making process on the SEM. The paper also aims at: understanding the relationship between the financial ratios, market return and risk; estimating the level of systematic for different business segment where financial market information is not available; and to guide investment in measuring the systematic in private and non listed companies in Mauritius. 1.3  Organisation of this paper The paper is organised as follows: Chapter 2 provides a summary of literatures concerning risk measures, accounting tools and market-based models to measure the performance and risk; It also surveys the empirical researches on the SEM  and similar markets; Chapter 3 develops the models which are to be used in the analysis of the relationship between systematic risk and accounting ratios; It also outline the methodology and sample data which is used in the analysis; Chapter 4 presents the key findings from the study and Chapter 5 concludes the paper. 2  Literature review Risk and return of a firm are the two most important factors in the development of financial strategy for both individual investors and firms. Risk is inherently multi-dimensional and as such it has multiple characteristics which may be classified as financial and non financial. These characteristics make up the risk profile of a security, which is generally observed as changing with time and at different levels of a market. These changes in turn, impact on the return of the investors either by creating value or destroying the initial value before the investment.   Modern financial theories have proposed different models which are founded on sound theoretical analysis which can be used to estimate the different degree of riskiness of a particular security. These risk measures are then used in valuation models to estimate the return which an investor, with a defined risk attitude, can expect from an investment. As described in chapter 1, above, the applicability of such financial theories remain untested in many emerging markets. This chapter reviews the financial models which are commonly used by practitioners for estimating of the risk of stocks and stock market and their corresponding returns. It also summarises the main financial ratios which are used to analyse the financial risk, financial performance and the value of the firm. Finally a summary of the accounting tools and market-based models to measure return is also presented. 2.1  Risk It has always been difficult for practitioners to reach a consensus on the definition of risk. Moles (2004), nevertheless, provides a simple definition which is taken in this paper as basis for risk measurement. He defines risk as â€Å"the chance (or probability) of a deviation from an anticipated outcome†. With this definition it is implied that risk is made up of at least these 3 elements: 1.  probability: which means that risk can be quantified and expressed as a parameter, number of value; 2.  deviation from anticipated outcome: which is extent to which the actual result may deviate from that which is expected; 3.  anticipated outcome: this means that it is the consequence of the actual results deviating from the expected results that leads to risk. Newbold et al (2003) states that probability can be measured using past data by considering the proportion of times that an event occurred. For the case of an investor the anticipated event would be the financial return which he or she can expect by holding an asset. The measurement of the deviation from the anticipated return is normally done using the standard deviation of returns generated by an asset with regard to the expected return. 2.1.1  Systematic and unsystematic risks The deviation from the anticipated return is caused by is explained by 2 levels of risk: systematic risk and unsystematic risk.  The sum of these two main categories of risk is the total risk to which an investor is exposed to. Systematic risk is associated with overall movements in the general market or economy and therefore is often referred to as the market risk. The market risk is the component of the total risk that cannot be eliminated through portfolio diversification. Unsystematic risk which is a component of the portfolio risk that can be eliminated by increasing the portfolio size, the reason being that risks that are specific to an individual security such as business or financial risk can be eliminated by constructing a well-diversified portfolio. 2.2  The Capital asset pricing model Markowitz (1952) constructed a mean-variance model to observe the trade-off between risks and return. The model mathematically proved that return can be maximised, while minimising the overall risk, by holding a diversified portfolio. The idea was based on the concept that securities that are inversely correlated or having coefficients which are less than one. Such negative or low correlation coefficient results in a low covariance between securities in the portfolio. The low covariance implies a comparatively low level risk. However, Sing et al, (2001) observed that the model ignore the general risk-averse attitude of most investors. The Capital Asset Pricing Model (CAPM), developed by Sharpe (1964), is based on the framework set out by Markowitz (1952) which considers that investors invest their money in a portfolio of assets. The CAPM states that the return which a risk averse can expect from investing in a risky asset is a risk premium over the risk free rate. The formula 1 below states the formula which can be used to calculate the expected return. E(Ri)  = Rf +  i  (  E(Rm)   Rf  )  (2.1) where: E(Ri)  Ã‚  expected rate return of stock I; i  Ã‚  relative risk of share I; E(Rm)  Ã‚  expected rate return of the market portfolio; and Rf   risk-free interest rate. Sharpe (1964) and Lintner (1965) explained that the correct measure of risk of an asset is its beta factor, a standardised measure of the systematic risk and that the risk premium per unit of riskiness is the same across all assets. CAPM has been developed by considering some assumptions such as normal distribution of assets return, perfect divisibility of assets and return, the existence of a risk free rate, perfect market conditions, inter alia, which might not exist in the real world. Despite the fact that most of the above assumptions are neither valid nor fulfilled, the CAPM has become an important tool in finance. It is widely used by finance practitioners for assessment of cost of capital, portfolio performance, portfolio diversification, valuing investments and choosing portfolio strategy among others. The ÃŽ ² factor in the equation 2.1 measures the volatility of the specific asset with regard to the volatility in the market, that is, the market risk. Mathematically it is expressed as in equation 2, below: (2.2) where: systematic_riskasset = covariance of the asset and that of the market market_risk is the volatility in the market portfolio, it is measured by the standard deviation of prices of the market portfolio. 2.2.1  Empirical review of Capital asset pricing model The empirical studies undertaken by Jensen et al. (1972) found supportive evidence for CAPM. The authors found that the actual return, for a sample of companies quoted on the New York Stock Exchange (NYSE), were consistent with the predictions of the CAPM.  They noted that the relationship between the average return and beta was very close to a linear one and that portfolios with high betas had high average returns. The same result was confirmed by Black et al. (1972), who studied of all the stocks on the NYSE over the period 1931-1965. Black et al. (1972) formed portfolios of stocks and analysed the abnormal return with regard to the beta factor, and found a linear relationship between the average excess portfolio return and the beta. Black et al (1972) observed that the beta factor measured the responsiveness of the share return to changes in the returns of the market. Stocks with high positive betas had stock price which rose faster than the market. This implies that high beta stocks bear a higher degree of risk compared to stocks which have their beta factor as negative. Stock with negative beta behave negatively to changes in the market, as such, in a bearish market, it is more attractive to invest in these stocks as it helps to preserve the value of the investor. Fama et al. (1973) also observed a larger intercept than the risk-free rate when analyzing the return against risk. They confirmed that there is a linear relationship between the average return and the beta, even over longer period. They further investigated whether the squared value of the beta and the volatility of assets returns explained the residual variation in the average returns across asset and found that, in addition to portfolio risk, there are other variables that affect expected return. 2.2.2  Critics against Capital asset pricing model There has been also several criticism of the applicability of the CAPM in many markets. Empirical research undertaken by Basu (1977) proposed other factors which have to be considered instead of relying wholly on a single variable, beta. According to Basu (1977) the price earnings ratio has a great influence in market return. Banz (1981) challenged the model by indicating that firm size have a considerable impact on the average returns of a particular stock and thus firm size could better explain the volatility than the market beta. The author observed that the average return of small firms were higher than the average returns on stocks of large firms. Chan et al (1991) made a further observation, on the Japanese market, that stocks with high ratios of book value of common equity have significantly higher returns than stocks with low book to market equity. In this respect, book to market equity started to be regarded as being an important variable that could produce dispersion in average returns. Fama and French (1992) came up with the conclusion that a more realistic approach of the risk in the market is the multi-index models. Their study concluded the findings of Basu(1977), Stattman (1980), Banz (1981) and Chan et al (1991) who argued that size of the firm and the books to market equity ratio are far superior in explaining asset returns. In contrast with CAPM which can be considered as a single factor model, Ross (1976) proposed a multifactor arbitrage pricing theory (APT).  Groenewold et al (1997) examined the validity of the model for Australian data and compared the performance of the empirical version of the APT and the CAPM. They concluded that APT outperforms the CAPM in terms of within-sample explanatory power. The APT, however, is a generic model and does not specify any factor which has to be considered in analysing return with regard to risk. 2.2.3  The ongoing debate on the applicability of Capital asset pricing model Nevertheless, there is no consensus in favour of CAPM due to the disparities in the empirical findings and the debate continues. In general, the studies challenge the data used by Fama et al (1993). Kothari et al (1995) argue that the findings of Fama et al (1993) depend essentially on how the statistical findings are interpreted. Amihudm et al (1992) and Black (1993) supported the idea that the data are too noisy to invalidate the CAPM and showed that when a more efficient statistical model is used, the relationship between average return and beta is positive and significant. The author further suggested the findings in respect of size effect could be simply in a sample period effect and that it may not be noted in another period. Similarly, Berk (1995) questioned the findings of Chan and Chen (1991). The author emphasised that stock prices (and market value of the equity (MVE)) depend on the expected future cash flows which is used by investor to estimate the risk and the required rate of return. Therefore, if two companies have a higher discount rate and consequently its price and MVE will be lower. In this sense, MVE captures the information about the company’s risk, since any change in investors’ perceptions of risk is immediately reflected in the stock prices. Furthermore, when the expected return of a firm is defined as the expected cash flow divided by its MVE, the relationship between MVE and return is clearly negative for companies with equivalent cash flows. Berk concludes that for companies of similar cash flows, the higher the risk of the cash flow, the higher the discount rate investors apply to it, which causes price to decrease and expected return to increase. This concept has contradicted the findings of Chan and al (1991), which attribute higher returns to smaller companies. Owing to its intuitive appeal, the CAPM has become an important tool in finance for assessment of cost of capital, portfolio performance, portfolio diversification, valuing investments and choosing portfolio strategy among others. However, there is no consensus in the literature as to what a suitable measure of risk is, and consequently, as to what is a suitable measure for evaluating risk-adjusted performance (Galagedera, 2007). As such, the debate for robust asset pricing models continues. Other studies (Ball and Brown (1969) and Beaver, et al (1970)) have focussed on accounting variable to convey information about the market risk. 2.3  Accounting variables as a measure of systematic risk Research in accounting variable as a measure of risk has increased considerably since the last forty years with a number of published papers by Beaver et al (1970), Lev et al (1974) , Bernard (1989), Ohlson (1995), and Kothari (2001). Beta measures the relative risk whereby risk itself is determined by some combination of firm characteristics, market conditions, and the sensitivity of the firm stock to market conditions. As such, understanding the relationship between the accounting variable and the systematic risk can provide an alternative basis to a market based estimation and prediction which will in turn guide the accounting policy formulation and investment decision making (Brimble et al, 2007). The study by Beaver et al (1970)  was the most quoted research in accounting and financial research. The author had improved the perdition of systematic risk by considering the firm specific characteristic and they identified significant association between market risk and firm specific accounting information. The financial statements of firms were mostly used in providing considerable information that could be used to measure the inherent risk. In fact, the Financial Accounting Standards Board (1983) stated that the objective of financial reporting is to provide information that is useful to present and potential investors and creditors and other users in making rational investment, credit, and similar decisions. A number of studies investigated how financial information becomes impounded in security prices and affects investment decisions. These accounting data are converted into the financial constructs, such as growth, operating leverage, profitability, liquidity, and efficiency. There is considerable evidence that since the late 1800’s ratio analysis has been widely used in the valuation of published financial data (Connor, 1973). Researchers and investors use mainly financial ratios for risk modelling purposes based on different criteria of comparison which are discussed as follows: Time series analysis: It also known as trend analysis and it is used to compare financial ratios over a period of time. Ratio analysis for one year may not present an accurate picture of the firm (Rao, 1989).  As such, to appraise a firm’s performance, the present ratios need to be compared with the past ratios. Cross-sectional analysis: This method compares ratios of one firm to the ratios of some other selected firms operating in the same industry at the same point in time (Pandey, 1999). Such comparison indicates the comparative financial position and performance of the particular firm. Industry analysis: According to Pandey this type of analysis helps to ascertain the firm’s financial standings and capacity vis-à  -vis other firms in the same industry. A study conducted by Beneda (2006) indicated that commercial lenders often consider the use of industry ratio analysis to be critical with regard to the potential success of the business. The main shortcoming of this analysis is that it is difficult to obtain the average ratio of an industry and if available the average ratio is composed of both strong and weak firms. Financial ratios were used for locating possible takeovers and mostly to predict major events such as corporate failures (Scott, 2004). Other studies reported on an association between accounting ratios and market risk measures, and proposed that certain accounting ratios can be used as proxies in predicting future security (Beaver et al. 1970; Elgers and Murray, 1982). 2.3.1  Usefulness of accounting variables The use accounting as means of estimating the systematic risk will allow the user of the financial statement to assess the investment alternative in terms risk, return and the value of the firms. Ryan (1997) has widely discussed the motive for relating accounting research to measures of market risk: The volatility of market betas over time indicates that the ex post measure of systematic risk is does not provide meaning full information in estimating the future risk. As such, understanding the relationship between accounting variables and systematic risk could indeed be useful in measuring and predicting the actual and upcoming market risk. Market based measures of risk, like the capital asset pricing model, fail to consider most of the firm specific characteristic such as the operational factors and environmental contingencies which influence risk. The accounting risk based information gets closer to the identification these economic fundamentals. Therefore accounting model provides an actual risk determinants rather than just determining the level of risk. Accounting risk model overcome the conventional problem were ex post measure of risk can not be applied due the fact that historical security returns is not available or insufficient like in the case non listed entities and for initial public offering Accounting variable are not affected by the noise found in traditional risk estimates which rely on past trading histories whereby significant variation in one period subsequently affect the overall risk level ; The development of trading strategies and the construction of portfolios with the desired level of risk. 2.3.2  Theoretical and empirical review of the relationship between individual accounting variable and systematic risk. Researchers on the association between systematic risk and accounting ratios were primarily initiated by Beaver (1970). The ratios used by the author were dividend payout, growth rate and leverage ratio, liquidity ratio, variability of earnings and co-variability of earnings. Other studies have further elaborated on these ratios and they also added other accounting based to measure the systematic risk. All these ratios aim at measuring the operating risk, financing risk and growth risk. The theories and empirical finding between these two variables are discussed as follows: Dividend Payout Corporate dividend policy has been the object of lively discussions in finance literature. The debate has revolved around the question of whether companies with generous distribution policies are less risky and whether there exists an optimal payout ratio. Theoretically, it is often asserted that firms with low payout ratios are more risky.  This is because that cost for external finance is relatively high for risky firm than firm with low risk. In this respect, risky firms rely on the utilization of their own reserves to carry out business activities. Dividend payout also affects the systematic risk by the information perceived by variation in the dividend policy. The original idea behind the information content of dividends, was developed by Lintner (1956) who claimed that managers only increased dividends when they believe that the levels of the firm’s earnings have permanently increased. He argued that decrease in dividend may be interpreted as cash flow or liquidity problem. Miller and Modigliani (1961) have argued, on the other hand, that dividend policy is irrelevant to the market value of shares. In a model which disregards taxes, they conclude that the payout policy which the corporation adopts, has no effect on the price of shares. Similarly Watts (1973) and Gonedes (1978) found no evidence that changes in dividend policy contain new information regarding firms future earnings. Gordon (1963) further pointed out that an increase in the proportion of retained profit now means higher cash dividends in the future and therefore conservative dividend policy has no effect on the risk factor. Still, Veikko (1967) explained that the higher the retention rate, the further in the future cash dividends are moved and the greater the uncertainty about their actual amount. Empirical evidence by Edward et al (1998) further showed that a significant negative relationship exists between the dividend pay out ratio and risk element. Growth rate Growth affects the systematic risk in two main ways as identified by Beaver et al (1973).  Firstly, where a firm earns excessive earning opportunities, that is, where the expected rate is higher than the cost of capital. Growth is normally attained by an expansion in the assets size either through the acquisition of new plants or by creating new product line or by takeovers.  The excessive earnings stream derived from these operations is argued to be more uncertain (i.e. volatile) than the normal earnings stream of the firm. In this respect the authors stated that a positive association exists between growth rates and risk. However, Harrigan (1984, 1986) have deepened this analysis and the author has observed different level of association over different industry life cycle characteristics. Harrigan argued that growth strategies, through takeovers and new product development, may be quite risky during an embryonic stage due to the high degree of product, process, and market uncertainty. In contrast, growth strategies may be less risky during times when demand conditions are growing in a stable manner. Finally, growth strategies are expected to become quite risky again as an industry is in transition to maturity because of the cut in the excessive earning streams. The second argument is related to the logic developed about the dividend payout ratio. Additional capital, utilized in the growth of the firm, would reduce the firm earnings in two main ways. If the expansion in asset is financed by the external debt, the firm earning would be eroded through finance cost. Whereas if the growth is financed through the retained earning, a sharp cut in earning attributable to the shareholder is expected. Both methods will ultimately lead to a reduction in dividend payout and thus increase the systematic risk. Asset Size Theoretically, larger firms are less risky than smaller firms. This is because large firms have better access to capital market, management skills and expertise and greater market liquidity. These factors provide opportunities to diversify and to seize new market opportunities to reduce operating risk which will impact on a lower beta than small firms. The studies of Dun et al (1970) reveal that the frequencies of failure are lower for large size firm than firm with low asset capitalization. Horrigan (1966) has shown that the most single important financial statement variable used to predict the bond rating of a firm was total assets. The author observed that if the asset returns are independent, the variance will decrease in direct proportion to the difference in asset size that is, as firm size doubles, the variance of the rate of return will be cut in half. Empirical work by Alexander (1949) observed that as firm size increase, the volatility in the earning streams decrease accordingly.   Moreover firm with wide operating activities are required to make more disclosure. For example the Mauritian companies act, 2001, stipulate that firms with Turnover above MUR 30 Million are required to file a complete set of financial statements with the Registrar of Companies. This information may be consulted by the members of the public upon payment of a nominal fee. Thus, more information is available to evaluate risk level. Collins et al (1987) have identified that small and recently incorporated firms have a high probability of financial distress. Accounting beta Research about the association between the market based beta and an accounting beta originated with Ball and Brown (1969). Accounting beta measures the degree of co-variability of firm earnings and the market earnings. Beaver et al (1970) argue that, if beta is being the used as the market determined concept of risk, then the most direct approach would be to compute the beta value on accounting earnings. Bowman (1969) demonstrated that the higher the accounting beta, the higher the systematic risk. Hence a positive relationship is expected between the two variables. Earning Variance The important relationship between earnings and the market beta is their covariability, accounting beta, is shown in the above. However, the empirical research has generally shown earnings variability to be superior to an accounting beta. Beaver et al (1970) found in a model that use accounting variables to forecast market risk that earnings variability was the most significant variable and that accounting beta did not make a statistically significant contribution. The relationship established by Ball and Brown (1969) is therefore theoretical. Empirical results may differ from theory for two main reasons as advanced by Bowman (1969). The assumptions (i.e there are only pure equity firms (no debt) in the market portfolio) of the theory may not be applicable to the universe being tested. Secondly, t

Students With Auditory Challenges and Mainstream Schools Essay

Students With Auditory Challenges and Mainstream Schools Hearing-impaired and deaf students can better succeed in life when educated in mainstream schools than being segregated in special schools because though they have special needs, they learn to communicate better with hearing individuals and can still attend special programs where teachers with special training can help them in their educational journey. Heather Whitestone, a deaf ballet dancer from Alabama, became the first Miss America with a disability, and Marlee Matlin fulfilled her dream of becoming a famous actress, despite her hearing disability. While many may look at these women in awe, by today’s standards, they are not handicapped. While they may be auditory challenged, the stereotypic disability label has been removed in lieu of a more descriptive, less demeaning alternative. Further, the way they view themselves and the way the public sees them weighs heavily upon their ability to live in a vociferous world. For deaf and seriously hearing-impaired children, many issues surface, particularly when considering educational. For many disabled children proper curriculum is not implemented in their education. Johnson has documented that deaf education largely fails, suggesting a lack of linguistic access to curricular content as well as low expectations. He proposes a new model, which encourages the early use of American Sign Language (ASL). Johnson, and other researchers at the Gallaudet Research Institute, insist that ASL will encourage both the ability to develop cognitive skills and improve the child’s chances to learn English (Johnson 45-7). The proposal includes teaching sign language as the child’s first language and encou... ... Markova, Dawna, PhD. How Your Child is Smart. Berkley: Conari Press, 1992. Marschark, Marc. Raising and Educating a Deaf Child. New York: Oxford University Press, 1997. Sawyer, Richard J. and McLaughlin, Margaret J., et al. â€Å"Is Integration of Students with Disabilities Happening?† Remedial & Special Education, 1 July 1994: 204. Schmetzke, Axel. â€Å"Disability-related Resources on the Internet.† Intervention in School& Clinic, 1 Nov. 1996: 69. Schwartz, Sue, PhD. Choices in Deafness: A Parents Guide. New York: Woodbine House, 1987. Vaughn, Sharon-Elbaum and Batya, E., et al. â€Å"The Effects of Inclusion on the Social Functioning of Students with Learning Disabilities.† Journal of Learning Disabilities 1 Dec. 1996: 598. Wilcox, Daryl J. and Wigle, Stanley E. â€Å"Mainstreaming Revisited: 20 Years Later.† Education 22 March 1997: 371-81.

Pride and Prejudice Themes and Motifs Essay

Class is the target of much of the novel’s criticism of society in general. Austen makes it clear that people like Lady Catherine, who are overly invested in their social position, are guilty of judging that a person’s social rights are strictly defined by their class. Other characters, like the stuck-up Mr. Collins and the scheming Caroline, are depicted as thoroughly empty, their opinions and motivations completely defined by the dictates of the class system. Mr. Collins is not a part of the very high class, but driven by pride, he thinks he is. His marriage to Charlotte was his attempt to recover his pride after being rejected by Lizzy. That is what makes him so obnoxious; his focus is always on showing off himself and his situation in life. To contrast them, Austen offers more positive examples in Bingley and the Gardiners. Bingley is someone from the upper class who wears his position lightly and gallantly. The Gardiners represent the honest, generous, and industrious middle class and are examples of how even the middle class can be as educated and refined as the upper class. Austen does seem to respect the class system in a few ways, especially when it operates not as a dividing power in society, but as a force for virtue and decency. Darcy is the primary example of Austen’s ideal high-class gentleman. Though originally he seems to be an arrogant and selfish snob, as the novel progresses it becomes clear that he is capable of change. Eventually, thanks to Elizabeth’s influence and criticism, he combines his natural generosity with the integrity that he considers a crucial attribute of all upper-class people. He befriends the Gardiners and plays a key role in helping the ungrateful Lydia out of her crisis. The marriage of Darcy and Elizabeth shows that class restrictions, while rigid, do not determine one’s character, and that love can overcome all obstacles, including class. Pride Pride is a constant presence in the characters’ attitudes and treatment of each other, coloring their judgments and leading them to make rash mistakes. Pride blinds Elizabeth and Darcy to their true feelings about each other. Darcy’s pride about his social rank makes him look down on anyone not in his immediate circle. Elizabeth, on the other hand, takes so much pride in her ability to judge others that she refuses to revise her opinion even in the face of clearly contradictory evidence. This is why she despises the good-hearted Darcy for so long, but initially admires the lying Wickam. Yet while Pride and Prejudice implies that no one is ever completely free of pride, it makes it clear that with the proper moral upbringing one may overcome it to lead a life of decency and kindness. In the end, the two lovers are able to overcome their pride by helping each other see their respective blind spots. Darcy sheds his snobbery, while Elizabeth learns not to place too much weight on her own judgments. Prejudice Prejudice in Pride and Prejudice refers to the tendency of the characters to judge one another based on preconceptions, rather than on who they really are and what they actually do. As the book’s title implies, prejudice goes hand in hand with pride, often leading its characters into making wrong assumptions about motives and behavior. Austen’s gentle way of mocking Elizabeth’s and Darcy’s biases gives the impression that such mistakes could, and indeed do, happen to anyone; that faulting someone else for prejudice is easy while recognizing it in yourself is hard. Prejudice in the novel is presented as a stage in a person’s moral development, something that can be overcome through reason and compassion. Austen only condemns those people who refuse to set aside their prejudices, like the class-obsessed Lady Catherine and the scheming social climber Caroline. Austen’s work offers a powerful illustration of the damaging effects to people and to society that prejudice can inflict. Marriage Pride and Prejudice is a love story, but its author is also concerned with pointing out the inequality that governs the relationships between men and women and how it affects women’s choices and options regarding marriage. Austen portrays a world in which choices for individuals are very limited, based almost exclusively on a family’s social rank and connections. To be born a woman into such a world means having even less choice about whom to marry or how to determine the shape of one’s life. The way that society controls and weakens women helps to explain in part Mrs. Bennet’s hysteria about marrying off her daughters, and why such marriages must always involve practical, financial considerations. As members of the upper class, the Bennet sisters would have been expected to become Governesses if they did not marry. However, their father did not make sure they had a thorough education, so they are not qualified to be governesses. Yet as women they are not allowed to inherit anything. As a result, marriage is basically their only option for attaining wealth and social standing. Yet Austen is also critical of women who marry solely for security, like Charlotte. The ideal for her is represented by Elizabeth, who refuses to trade her independence for financial comfort and in the end marries for love. Love The biggest and most obvious theme of this story is love. The book is a big ole’ love story that is not just about how beautiful love is, but other aspects of love as well. Jane Austin also shows how love complicates the lives of the characters throughout the plot. Caroline Bingley’s love for Mr. Darcy makes her bitter. And Jane’s love for everyone makes her fall victim to the schemes of others. And how Elizabeth’s love for her family, make her blind to the reality of how people perceive them. Jane Austin shows that there is a difference between love and lust. She shows this through Lydia and Wickham’s marriage as well as how Mr. and Mrs. Bennett married foolishly and did not truly love each other and therefore had a bad marriage. In every true love story the lovers must separate and overcome numerous stumbling blocks, beginning with the tensions caused by the lovers’ own personal qualities. In Mr. Darcy and Elizabeth’s relationship they had many hurdles. There was the pride theme from both of them, the prejudice theme from both of them, Lady Catherine’s attempt to control her nephew, Miss Bingley’s snobbery and attempts to take Darcy all to herself, Mrs. Bennett’s idiocy, and Wickham’s deceit. In the end, love triumphs all. Through this, Austen suggests that true love is a force separate from society and one that can conquer even the most difficult of circumstances. It is not something that can be defined with marriage or similar class, etc. In each case, love seems to trump class and the other themes mentioned. Austin used these obstacles to create an ultimate love story. She also highlights this theme more by having the very first sentence of the book be, â€Å"It is a truth universally acknowledged that a single man in possession of a good fortune must be in want of a wife,† and using the character of Charlotte Lucas, who was the one who marries the buffoon Mr. Collins for his money, to demonstrate that the heart does not always dictate marriage. By using love as the theme of her book, Austen inputs her views on love as something independent of these social forces, as something that can be captured if only an individual is able to escape the warping effects of hierarchical society. MOTIFS Courtship/Dating There are two major courtships that occur in the story—those between Darcy and Elizabeth and between Bingley and Jane. Darcy proposes twice to Elizabeth throughout the course of the novel, and Jane and Bingley’s relationship is continually deepening. There are also other less significant courtships which take place, such as the failed attempt of Mr. Collins’s proposal to Elizabeth followed by his successful marriage to Charlotte Lucas. Another example would be the Miss Bingley’s unsuccessful attempt to attract Darcy; Wickham’s pursuit first of Darcy’s sister Georgianna, then Elizabeth, followed by a rich heiress in Meryton, and finally of Lydia. Courtship therefore takes on a profound importance in the novel. Courtship constitutes the real working-out of love. Courtship aka dating, is just a way to figure out if this person likes that person. It’s a sort of forge of a person’s personality, and each courtship becomes a different type of love (or different ways to abuse love as a means to social advancement). Therefore, courtship proves to be of great importance at various points of the novel. Each courtship contains a different kind of love, with marriage usually as the ultimate goal. Journeys There are several journeys in which the characters take, even though most of the action is usually centered around the Bennet household in Longbourn. Jane when hearing word that Bingley has left town, she takes a Journey to London. Elizabeth’s first journey is to visit her friend Charlotte and Mr. Collins, however, on this journey, she encounters Mr.  Darcy and during this time he also makes her his first proposal. Her second journey is with the Gardiners, and it leads her to Pemberley, Darcy’s beautiful estate. Another major journey occurs at the end of the novel, where various people are in pursuit of Wickham and Lydia. This journey ends with Darcy saving the Bennet family’s honour, and then returning to Longbourn again to make his second proposal to Elizabeth. At the end of the novel, Elizabeth, Mr. Darcy, Jane, and Mr. Bingley get married and all live near Hunsford. Which is a big ‘journey’ from where they started in Longbourn.

Impact of Culture on the Spread of Hiv/Aids in Kenya

bdalla A. Bafagih Professor Trent Newmeyer Sociology of AIDS Soc 309Y1F June 21, 2004 Impact of Culture on the Spread of HIV/AIDS in Kenya a national culture is not a folklore, nor an abstract populism that believes it can discover the people’s true nature†¦. a national culture is the whole body of the efforts made by a people in the sphere of thought to describe, justify and praise the action through which that people has created itself and keeps itself in existence (Fanon, Frantz). Introduction Culture, even in the twenty first century, has numerous denotations.In various parts of the world, it has been and is still considered to be important for the development of civilization and of people’s minds; a particular society or civilization is considered in relation to its beliefs, ways of life and values. In short, culture plays a crucial role in a groups’ quest for identity and is therefore at the centre of the socio-cultural development of a people, region or even county in terms of identity and politics-it serves as a code of life that must be followed under any circumstances even with an HIV/AIDS epidemic.These observations help illuminate responses to our central thesis: that cultural barriers and the ensuing gender bias have not only perpetuated the spread of HIV/AIDS among women, but are also hindering an effective HIV/AIDS prevention campaign in Kenya. Our position is that HIV/AIDS prevalence is a gendered issue because women in most parts of the developing world, due to the repressive cultural practices women have no power. Furthermore women continue to be betrayed by outdated traditional norms such as widow inheritance, widow cleansing, polygamy and gender inequality, as is the case in parts of Kenya.When these issues may seem to differ, in reality they are intertwined and date back to generations. To make matters worse those infected with HIV, both women and men blame witchcraft as the source of death (McGeary, J. Time Magazi ne, p, 30). Moreover as Madhu Bala Nath states â€Å"myths are also rooted in the nature of denial that is associated with HIV/AIDS. Because HV/AIDS is so frightening, there is a temptation to deny the existence of the disease (2001, p, 32). Such denial plays a large part in sustaining such outdated practices.We should point out from the outset that the current risky practices were at one time seen as strength (pre HIV/AIDS era) since they were really helpful and appropriate for their communities. Among the merits of such traditional practices were, among others, the widow’s security within the household was guaranteed and the orphaned children were guaranteed the extended family support and therefore survival within the community. It was meant to ensure the widow and children never became homeless.According to the Washington Post, In Western Kenya, the custom known as wife inheritance once held an honorable promise: A community would take care of a widow and her children. S he did not remarry. Her husband's family simply took responsibility for her. If a brother-in-law could not care for her, then a cousin or a respected outsider would. The inheritor made sure that the widow and her children were fed, clothed, sheltered, educated, protected, kept (Buckley, Stephen.Washington Post, November 8, 1997). For the purpose of this paper, we take a position that the spread of HIV/AIDS has rendered what were once cultural assets into deadly liabilities particularly towards women and children. That is why there is a need to be creative and embrace alternative rituals that do not involve risky sexual behavior. Our position is that inheritance per se is not bad, but widow inheritance and cleansing that endanger the lives of the widow and the inheritor/cleanser should be discarded.Wife inheritance or wife cleansing involves an inheritor who has his own family. As reported by the Washington Post â€Å"he infects his first wife and the widow he has inherited. Then he dies, and two other men inherit the women he leaves behind. Those men die. And then their widows are inherited† (ibid. ). It is this vicious circle that explains the rising HIV rates in Kenya. Kenya has vibrant and diverse cultural groups but some groups elevate ethnicity above nationalism.This makes it sometimes problematic to deal with intra and inter cultural norms or to undertake reforms of certain entrenched traditions. On one hand you have believers in Christianity who are more willing to abandon certain outdated traditions such as those discussed in this paper. For instance, a Kenyan bishop, called on widows to take a stand against wife inheritance (Gonza, Sam. 2000, p, 1). On the other hand you have the rigid traditionalists who are not open to any reforms or changes within traditions.There is usually no middle ground and unfortunately it cuts across class lines. We agree with the position put forward by Human Rights Watch in their report entitled Double Standards: Wo men’s Property Rights Violations in Kenya that â€Å"as important as cultural diversity and respecting customs may be, if customs are a source of discrimination against women, they like any other norm-must evolve† (2003, p, 2). Kenya has approximately forty tribes, which are co-related to the four greater ethnic groups (Buckley, Stephen.Washington Post, November 8, 1997): Bantu, Nilo-Hamitic, Nilotic and Hamitic (see figure i). Because of it’s neighboring, cultures are related to each other within Kenya and in the border countries such as Uganda, Tanzania, Ethiopia and Sudan. [pic] Figure: i Source: http://www. lib. utexas. edu/maps/kenya. html It will be imperative for this paper to provide short historical events in Kenya so as to provide a proper understanding of both the internal and external dynamics of this country.Kenya attained its independence from Britain in 1963 and has a population of thirty two million (32 million). [1] Kenya like other Sub-Saharan countries is a creation of European scramble for Africa. [2] As a result same ethnic groups are presently dispersed across different countries. The boundaries are like artificial divisions in a way that the people cannot be checked at all border-crossing zones. [pic] Figure: ii Source: http://www. lib. utexas. edu/maps/kenya. html The point, which we want to discuss, is that it is difficult to try to onvince these communities to abandon some of their practices, because they feel that at the end, abandoning their customs, would completely wipe out their culture and eventually loose their identity. In some African countries, various ethnic groups are the minorities and would want to keep intact their culture for the purpose of their own identity, so as to enable them to negotiate any political power in the government (Kanyiga, Karuti. 1998, p, 7)). On the other hand the ethnic groups, which are the majority, would want to maintain their hegemony and are not ready to change their tradi tions (ibid).Thus why dealing with health issues such as HIV/AIDS creates profound consequences. Current HIV/AIDS Situation in Kenya The synopsis about Kenya is not good at all. United Nations AIDS (UNAIDS) reports that over 2 million out of a total population of 29. 5 million (2000) were infected with HIV and a cumulative number of 1. 5 million people had died due to AIDS. The high prevalence rates of HIV/AIDS have negatively impacted life expectancy to the extent that it has dropped by approximately 13 years to 51 years (1998); while GDP reduced by -0. in 2000 and is expected to worsen in coming years. The average literacy rate is estimated at 78% (1995) and total fertility rate in Kenya is about 4. 4 (1998). Approximately 30% of the population lives in urban areas and more than half of the population live under the poverty line, women constituting the majority. UNAIDS estimates that about 500 persons died of AIDS each day in the country in 1999. (www. unaids. org/Unaids/EN/geogra phical+area/by+country/kenya. asp).According to the World Health Organization (WHO), the estimated number of adults and children living with HIV/AIDS, in Kenya end of 2001 stands as follows: Adults and children 2,500,000, Adults (15-49) 2,300,000, Women (15-49) 1,400,000 and Children 220,000, current living orphans, 890, 000, estimated number of death due to AIDS (2001), 190, 000 and the current adult rate of 15. 0 percent (www. who. int/hiv/pub/epidemiology/pubfacts/en/). Furthermore, the Human Rights Watch Report (2001) indicates that an estimated 2. million adults and children live with HIV/AIDS, representing about 14 percent of the sexually active population. The scary statistic is that Kenya has the ninth highest HIV prevalence rate in the world to the extent that the U. S. Census Bureau projections indicate that by 2005, there will be about 820 deaths per day from AIDS in Kenya. (http://www. hrw. org/reports/2001/kenya/kenya0701-03. htm#P144_18884). Factors behind the Gendered HIV/AIDS rates in Kenya. Through culture and society, we are able to transmit skills and other systems of social relations to modify our environment.But that has not been possible with women in Kenyan in both rural and urban areas even in the event of a HIV/AIDS epidemic with no cure in sight. Since our beliefs and ways of life are inseparable from our particular cultures, it is common for people to reject a behavior if it is not signified in their culture’s social code. It is however much harder for the marginalized groups like women and girls to reject what is supposedly part of their culture as is the case among the Luo and Luhya[3] of Kenya where they practice their culture to a fault.In such cases, individual behavior patterns alone are not responsible for the observed high-risk activities that cause HIV/AIDS. Needless to say, HIV/AIDS transmission in parts in Kenya is mostly through heterosexual relations. Because of [blind] loyalty to their culture, many within the gr oup (most educated women with the economic means to support themselves are now increasingly defiant against certain regressive policies like widow inheritance) in a society which has its own subculture, often face social risks, such as wife (widow) inheritance, to the extent that failure can result in exclusion from participating in communal events.For example, women who refuse to be inherited among the Luo and Luhya automatically lose their right to remain within their households, because their behavior is considered odd. Consequently women are frequently subject to violence, abuse, scorn and ridicule and other expressions of hate (HRW, 2003, pp, 16-21). Similarly, when it comes to apportioning blame as to who is the responsible party for bringing HIV/AIDS among married couples; it is usually women who are blamed even though in most cases, it is the men who have multiple partners.That goes to show that in the name of culture, women in Kenya find themselves in subordinate positions to men and are socially, culturally, and economically dependent on them. Because of the cultural biases, women are largely excluded from decision making, have limited access to and control over resources, are restricted in their mobility, and are often under threat of violence from male relatives (that is why many women have no choice when it comes to certain oppressive rituals, because they have no where else to return to should they be evicted from their late husband’s property) (ibid).In many cases, women in many parts of Kenya are perpetual minors subject to the guardianship of their male relatives and husbands. As a result, not only are their statuses lower than that of men, but also their condition is also dependent on that of their men folk. This subordination of women is connected to the distribution of power in society. In Kenya, economic, social and political power accrued to men partially as a result of their control of women, even though the thinking was and still is that a prosperous homestead depended on female reproduction and production.This keeps such oppressive rituals like widow inheritance in practice. Additionally, the gendered HIV/AIDS prevalence rates illuminate how gender as a constitutive element of social relationships. The Human Rights Watch of 2003, stated that of the 1. 4 million were women and girls with HIV positive, between the ages of fifteen and forty nine, this clearly shows how differences between sexes-power relationship within and between different women, urban versus rural and single versus married is very much embedded within society.Furthermore, the violation of fundamental human rights, and especially reproductive rights of women, plays an important part in perpetuating gender inequity and the observed HIV/AIDS prevalence rates in Kenya. As discussed in some parts of Kenya certain groups have taken Fanon’s dictum above about culture to new levels (p, 42), which have resulted in the discrimination, violati on of women’s rights and have placed women at great risk of contacting HIV. The impact has been traumatic on women as members of a community that continues to marginalize them in alls aspects of life.Yet women continue to provide care as wives, mothers, daughters, nurses, teachers, and grandmothers towards the sick, the dying and the orphaned children, many of whom are traumatized by the loss of their loved ones from AIDS. Unfortunately, in most parts of Kenya as evident elsewhere in Sub-Saharan Africa, as Fanon further argued, societies have not acknowledged the totality of culture and its vital role within the context of culture and history (p, 43).What we know and will be shown in this essay is that an examination of cultural practices allow us to know the nature and extent of the imbalance and conflicts (economic, social and cultural) which characterize the evolution of a society: culture allows us to know the dynamic synthesis which have been developed and established by social conscie nce to resolve these conflicts at each stage of its evolution in search for survival and progress (ibid).In the case of Kenya, and elsewhere as it was made clearer in this course, the quest for in Kenya such attitudes pervade all aspects of social life to the detriment of girls in particular and women in general. Evidently, the recurring theme in Kenya is the conflict between modernity and tradition that is often treated in terms of its relevance to women and men, rural versus urban or what it means to belong to a particular ethnic group. This goes to the heart of gender equity, property rights, agrarian reform and its problematic impact on women.In parts of Kenya, those who believe that culture is stagnant rather than vibrant to the extent that oppressions against women are presented in terms of cultural harmony and the survival of entire ethnicities have hindered the process of social liberation by women. Some of the cultural traditions discussed include wife (wido w) inheritance, widow cleansing and polygamy all of which contributed to the lack of secure property rights that result into the violation of human rights for women, and the observed disparity in HIV/AIDS rates between men and women in Kenya. 4] Unfortunately westerners including many of our classmates sometimes do not seem to understand that countries like Kenya have very poor laws that govern human freedoms and rights like the Canadian Charter of Freedoms and Rights. Women in Kenya are routinely discriminated against in most cases with the connivance of the state. [5] While personal freedom and choice have certainly played a role in the rapid spread of HIV/AIDS elsewhere, where laws are enforced, in the case of Kenya, the interplay of culture and gender roles is to a great extent responsible for the statistics cited above in this essay.Although awareness of HIV/AIDS is reasonably high in Kenya this is not reflected in sexual behavioral changes, given the high prevalence and incide nce of HIV/AIDS (Rosenvard, C and T. Campbell, 1996, p, 11). This finding reflects our thesis; the entrenched cultural biases against women and girls can explain such behavior to the extent where awareness is high yet infections rates are also rising. It is not that Kenyans in general or women in particular are not rational, they are but they have become victims of outdated cultural traditions and gender biases.What this rather contradictory finding shows is the need to view the HIV/AIDS pandemic through, multiple lenses but most importantly through the lens of power inequality in society that are rooted in gender. Gender norms pervade all aspects of Kenyan culture and society to the extent that culture dominates anything else among the Luo and Luhya of Western Kenya. The marginalized status of women plays a key role in the spread of HIV/AIDS in Kenya as reflected in the UNAIDS and WHO figures.It is thus important to recognize the complex underlying factors influencing the role of w omen and how such roles affect African societies and behavior. In the traditional Kenyan society, women are expected to be submissive and to provide for their household at all times (Caldwell, 1989, p, 185). In Kenya especially in the rural setting, the woman’s marital status does not end when the person who married her dies; she is by all accounts married to the clan in the sense that under certain ‘invented’ customary traditions, the clan has the right to inherit her.Traditionally, Luo or Luhya women have little or no say in such matters of inheritance including the retention or sharing of resources such as land and property. According to Human Rights Watch: Widows are often evicted from their homes as in-laws rob them of their possessions and invade their homes and lands. These unlawful appropriations happen even more readily when the husband died of AIDS†¦ In some places, widows are forced to undergo customary, sexual practices such as â€Å"wife inheri tance† or ritual â€Å"cleansing† in order to keep their property. Wife inheritance† is where a male relative of the dead husband takes over the widow as a wife, often in a polygamous family. â€Å"Cleansing† usually involves sex with a social outcast who is paid by the dead husband's family, supposedly to cleanse the woman of her dead husband's evil spirits. In both of these rituals, safer sex is seldom practiced and sex is often coerced.Women who fight back are routinely beaten, raped, or ostracized (Double Standards: Women's Property Rights Violations in Kenya) (http://www. hrw. rg/reports/2001/kenya/TopOfPage). While the quotation above tells us sufficient story about the problems facing Kenyan women, Human Rights Watch report entitled, Double Standards: Women's Property Rights Violations in Kenya captures the agony of Kenyan women in their own voices. It is thus important to reproduce just three of their experiences below to capture what Human Right Wa tch calls â€Å"the heinous nature of women's property rights violations: through personal interview. Human Rights Watch of 2001, reports, â€Å"AIDS exacerbates those hardships†. †¢ Jiwa, a fifty-five-year-old widow from western Kenya, said that after her husband died, her brother-in-law brought a â€Å"cleanser† to her home to have sex with her. She objected, saying: â€Å"I don't know this man's HIV status, and if I die my children will suffer. † Her brother-in-law and four cousins pushed the cleanser into Jiwa's hut and he raped her. She screamed but the cleanser covered her mouth and the in-laws stood guard outside. The brother-in-law paid the cleanser with a cow, chickens, and clothing. Jiwa was then forced out of her home and into a shoddy, makeshift hut. Her brother-in-law took over her land and furniture.She reported this to the village elder, who did nothing. Jiwa now has a persistent cough and has lost much weight. She fears she contracted HIV f rom the cleanser but has not been tested and cannot afford medical treatment. †¢ Adhiambo, a thirty-year-old widow from Nairobi, said that when her husband died of AIDS in 1998 he left her HIV-positive with five children. She quickly went from being relatively affluent to destitute after her husband's family took her property. Her in-laws grabbed household items from her Nairobi home and took over a rural home, land, and livestock even though Adhiambo helped pay to construct the house.Her father-in-law called a family meeting, told her to choose an in-law as an inheritor, and ordered her to be cleansed by having sex with a fisherman. Adhiambo refused, and fled when her in-laws threatened her. She now struggles to meet her children's basic needs, and her slum landlord has threatened to evict her. †¢ Imelda, a twenty-five-year-old widow with AIDS, lost her home, land, and other property in Kenya when her husband died in 2002. She told her in-laws that she had AIDS and wanted to stay in the house. They snatched her property anyway and wanted her to be â€Å"inherited. She recalled: â€Å"I told my in-laws I'm sick . . . but they took everything. I had to start over . . .. They took sofa sets, household materials, cows, a goat, and land. I said, ‘Why are you taking these things when you know my condition? ‘ They said, ‘You'll go look for another husband. ‘ My in-laws do not believe in AIDS. They said that witchcraft killed my husband. (http://www. hrw. org/reports/2001/kenya/TopOfPage). The above tribulations capture the victims in their own words and show how widow’s inheritance and cleansing devalues the dignity of women.While case law establishes that family property may be evenly divided upon separation or divorce in practice, the captured words of the three widows above, seems to differ. But above all, as has been our point of argument throughout this paper, under the very oppressive and discriminatory customary laws that are extremely influential in Kenya, it is the men who are accorded greater property rights than women. Other discriminatory practices are usually sexist customary tradition that obstruct women's equal rights to property and also prevent women from seeking redress for violations of these rights.Additionally, the problem is made worse by unresponsive authorities that ignore women’s woes regarding property violations, and ineffective courts that are biased against women. However the greatest setback is the fact that many Kenyan women and men too have land problems where squatters are routinely evicted even though they have lived on such land for generations. The other is low level of awareness of their rights, the time and expense of pursuing claims, violence, and the social stigma of being considered greedy or cultural traitors if they assert their rights. www. hrw. org/campaigns/women/property/factsheet. htm). Evidently, what the discussion above illustrates is that in K enya, women’s rights violations must be understood and combated in the context of Africa's AIDS epidemic.In Kenya, 15 percent of the population between the ages of fifteen and forty-nine is infected with HIV, more than half of whom are women, and one out of eight adults in rural Kenya and one out of five adults in urban areas is infected, though most do not know it. AIDS has reduced life expectancy from sixty-five to forty-six years ((http://www. rw. org/reports/2001/kenya/TopOfPage). These figures are quite telling in that in Kenya, HIV/AIDS is worse among urban dwellers than is the case among rural dwellers. According to Dyson, the higher urban incidence rates are due to â€Å"relatively high rates of social interaction and crowded urban living conditions and squalid living conditions† (p, 427). Similar results for Sub-Saharan African in general, has been documented by Caldwell who found that â€Å"urban levels of HIV infection rates are typically four to ten times those of rural areas† (p, 44).In countries with a substantial level of urbanization, and home to some of the largest slum areas in Africa, the numbers are certainly depressing. Moreover as noted by Bollinger et al, Sometimes traditional practices that occur in Kenya, particularly in the rural areas, can contribute to the spread of HIV. For example, a director of the Kenyan governments AIDS efforts attributed the high prevalence rate in some parts of western Kenya to the practice of wife inheritance that exist there (5-6). These findings do illuminate our thesis.Furthermore given the feminization of poverty due to Structural Adjustment Program (SAP) policies (Cooper, 2002, 87), women in urban areas and also in rural areas find themselves on the economic margins where they are forced to engage in risky behaviors like prostitution. Moreover, because of SAP polices and the introduction of user fee in hospitals; women are disadvantaged with regard to health and health care (ibid), a clear indication that gender inequalities have led to a systematic neglect of women’s health and the gendered incidence of HV/AIDS in Kenya. It is not our intention to call such traditions as ‘uncivilized’ or extreme.It would be naive to make this assumption and one has also to try to understand the dynamics of Africa and its communities at earlier times. Caldwell captures the reality that â€Å"it is clear that lifestyle plays a dominant role in determining individuals’ chances of infection, and it seems probable that level of the disease over the coming decades is more likely to be decided by changing lifestyles than by medical breakthroughs. Those changes will be more successful, and least damaging to the society, if behavioral factors in the spread of the disease are well understood† (p, 186).Conclusion This essay has outlined and argued that the disparity in HIV/AIDS prevalence rates between men and women are rooted in the cultural biases aga inst women and girls such as widow inheritance in parts of Kenya. Our position in this essay has been that the cultural barriers and the ensuing gender bias have not only perpetuated the spread of HIV/AIDS among women, but are also hindering an effective HIV/AIDS prevention campaign in Kenya. We have shown the linkages between cultural biases against women and girls and the spread of HIV/AIDS.The challenge has been to decouple the notion that addressing women rights in Kenya is a western value or that concerns of equity must take a back seat in the struggle against HIV/AIDS epidemic. We recognize that eliminating all forms of discrimination against women in Kenya will take time, but the government must start to enforce existing laws to protect women against repressive cultural practices like widow inheritance. The people must be told that culture is not static but rather dynamic, and should be encouraged to discard risky cultural traditions and activities that expose women to HIV/AI DS and thus endanger their lives.From this course (Sociology 309), we know the relationship between safe and improved reproductive rights such as increased condom use and the health status of women are crucial in fighting the spread of HIV/AIDS. As shown in this paper there is a positive correlation between women’s precarious health status and their susceptibility to HIV/AIDS particularly in urban areas, inequitable gender relations and women’s poverty and powerlessness in society especially in rural areas.Finally, the Kenyan stakeholders – politicians, church leaders, civil society, NGOs, women leaders, youth groups, cultural and traditional leaders, must deal urgently with the existing power inequality among the sexes, that accounts for the excessive burden of HIV/AIDS transmission and the consequences on women in general who have so far been hit most by the spread of HIV/AIDS. That trend needs to be reversed if Kenya is to stem the devastating impact of HIV/A IDS epidemic and its distressing impact on the Kenyan society at large.