Both Sides of the Coin

As the famous clichà © goes, â€Å"times are changing†, and in order to keep pace with the quick changes that continuously occur, people also change. Their ways of life, adjust to what seems to be the call of necessity. Accompanying this is a change in the culture and what used to be taboos of old have become normal occurrences in the present. One of the taboos, which practice is found to be increasing is cohabitation (Cheal 24). Like many other uncommon practices, the emergence of cohabitation in the culture of a country has both advantages and disadvantages.Cohabitation or living together may be defined as a non-marital union (Brien et. l. ). It has a number of facets. Some see it as an alternative for marriage while others view it as a way of finding assurance for a lasting marriage (â€Å"The Facts behind Cohabitation†). In the 1970’s, studies have found that a number of young adults opted to postpone marriage and decided to cohabit. The increasing number of cohabitation led to a decline in marriages (Cheal 24). The decline in marriage proved to be one of the disadvantages of cohabitation. Since marriage assures the legitimacy of future children, cohabitation may result to more illegitimate children.This may produce children with unstable emotional and educational development as a result of disruptions on their family life (â€Å"The Facts behind Cohabitation†). Another disadvantage is that there is a high probability of incidence of cheating on both parties involved. Because of the non-commitment nature of this kind of union, there is no compelling force that assures fidelity for both partners. There are no rails that may keep both the man and the woman involved faithfully to each other and to the supposed relationship they are into (â€Å"The Facts behind Cohabitation†).A third disadvantage that some couples perceive as an advantage of this kind of set up is that it does not reassure of a lasting marriage at the end of it all. It has been found that couples who live together before actual marriage have unstable unions and commonly end up in divorce. The lack of commitment that the couples have grown into during cohabitation may mean less will to work for the betterment of a relationship, yet more will to end an unsatisfactory relationship (Brien et. al. 2). Despite this, there are still couple who choose cohabitation rather than marriage.Some couples find the disadvantages that were earlier mentioned overshadowed by the advantages they see in this non-marital set-up. In one case, couples who are less financially stable but desires to be together opt for cohabitation as it is cheaper as compared to an actual marriage. The taxes and benefit system require a large amount of money. As such, people whose incomes are low and whose jobs are irregular find it easier to cohabit rather than officially get married (â€Å"The Facts behind Cohabitation†).Another advantage of cohabitation relative to fin ances is the non-commitment nature of the set-up. Since there is no contract that was signed and there are no formal and legal terms that were agreed upon, separation is as easy as getting together. There is no need to file and undergo the gruelling process of divorce especially when the relationship is no longer working. This works well with couples whose money has better things to go to than divorce cases (â€Å"The Facts behind Cohabitation†). To conclude, people who consider it a taboo have reasons to perceive it as such.There are many reasons why for some couples, it is a practice that should not be supported and instead contradicted. On the other hand, it should also be noted that there are also reasons that prove for cohabitation as a better option as compared to actual marriage. People who are pro-cohabitation commonly have personal reasons in opting for this kind of set-up. As such, the issue of cohabitation must not be taken lightly since it may affect the unity of a nation, especially that which uphold a person’s own opinion.

Discuss how far sociologists would agree that teenage criminal and deviant behaviour results from parents failing to socialise their children correctly Essay

Discuss how far sociologists would agree that teenage criminal and deviant behaviour results from parents failing to socialise their children correctly (12 marks) Most criminologists would agree that the majority of criminal and/or deviant behaviour both stems and/or develops during either childhood or the early years of adolescence. Therefore, many how deduced that the adequacy of socialising in the home by parents is likely to have an effect and possible even result in teenage criminal and deviant behaviour. This essay will therefore discuss how far sociologists would agree that teenage criminal and deviant behaviour results from parents failing to socialise their children correctly. According to functionalists, one of the key roles of parents is to appropriately socialise children to become good citizens of society. However, in conjunction to this, it has also been theorised that failure to appropriately socialise a child at home may lead to criminal and/or deviant behaviour later on in life. This may be that the parents them self’s display criminal and/or deviant behaviour, which that child them copy’s and learns. The new right approach for example theorises that children from a parentally deprived home are more likely to look for guidance and comfort elsewhere and are more prone to crime. They are therefore more likely to find role models in such situations who they aspire to grow up like. The Marxist theory of alienation however is another factor that sociologists have recognised. Marxist theorise that young, impressionable adolescences often feel pressurised by those in power who often use the law to benefit themselves and are therefore forced in to demeaning work. Due to this, many turn to crime in order to be able to control what they do but also get certain objects that they may not have been able to receive should they have stayed on the other side of the law, objects which the rich and powerful are usually the only ones to receive. Therefore, Marxists would agree that while failure to properly socialise children is an important factor in why teenagers turn to crime and delinquency, the oppression of the bourgeois is just as far reaching. In regards to teenage behaviour, labelling is a common factor found right across the board. Whether it is in school, in peer groups, in the neighbourhood or even in the home, labelling can eventually lead to a self-fulfilling prophecy. If a child is labelled as a delinquent early on in life, it is extremely likely that that child will eventually become to believe it they are told it enough. They will therefore begin in act as they have been labelled and become criminal and/or deviant. Many sociologist would agree that labelling is a major factor in why teenager criminally and/or deviantly. Another factor is peer pressure within a sub-culture. Sub-cultures are a common day thing in many environments, especially in school. Most of them in areas of material and capital deprivation have developed a laddish sub-culture, where you must be tough and hard in order to be popular where as those who do well in academics are often viewed as uncool and nerdy. Therefore, many teenagers are pressured in to behaving criminally and or/deviantly by the threat of being socially outcast and labelled as uncool by their peers. Therefore, many sociologists would agree that peer pressure within a sub-culture does affect the criminal and/or deviant behaviour of teenagers today, possibly more so than poor socialisation in some situations. In this essay, I have explained four different factors that can affect how deviant and/or criminal teenagers behave in today’s society. However, although poor parenting may result in teenager criminal and deviant behaviour, other factors such as the Marxist theory of alienation, labelling and peer pressure within a sub-culture affect teenagers just as much as poor socialisation by parents.

Developing a marketing plan Assignment Example | Topics and Well Written Essays - 1500 words

Developing a marketing plan - Assignment Example Sony’s products are advertised through the world by sales companies and unaffiliated suppliers as well as direct trades via the Internet. Sony is also involved in advertising agency business and network services business in Japan among so many other activities. This paper seeks to establish Sony’s current industrial status in the market share and unearth the company’s secrets of success. Principally, the sole intention of this treatise is to bring into focus the Marketing Plan for Sony Corporation (Fujiwara, 2006). With many main products reputable and substantial market share, one can note that it is improbable for new competitors to overcome product identities that are conventional to maintain consumer trustworthiness. The copyrights that are possessed by Sony are a resilient obstacle since competitors find it costly to enter the same industry of production due to placement of patents and licenses and raised prices for the product. Sony Corporation, for a long time, has been, and still is, dominant in the electronic business. With its capacity to deliver durable and high-end products, Sony has built long-lasting relationships with their dealers. Their high business uniqueness and a worldwide network of business entities has enabled them establish a bargaining power of the suppliers and dealers like no other company. Because of this, dealers have found it hard to bargain down prices due to their loyalty, and high quality products produced by Sony. The introduction of the new Sony LED TV and the quality that comes in this product, is an example as to why dealers have lowered their bargaining power thus increasing level of Industry profits. The bargaining power of retailers and suppliers will depend mostly on the bargain power of end-users. This chain is what makes this phenomena a threat and may force a company to lower its prices that might lead to

Poet Explication Essay Example | Topics and Well Written Essays - 1000 words

Poet Explication - Essay Example Mariana is a women character deserted by her lover originated from Shakespeare’s Measure for Measure written in 1830.The Autobiographical element in Tennyson’s life enhances deeper understanding of the poem and conveys why the suffering depicted in the poem is intentionally infectious and has a haunting nature. There are references that Tennyson himself suffered from mental illness as did his other members of immediate family which equipped him to travel inside the mind of Mariana and expressed it in the most telling manner. The poem is written in definite syllabic pattern iambic pentameter. The long lines render peculiar movement pattern with a slow sad and depressing note matching the unending uncertainty. Repetition of the chorus at the end of each stanza serves as an echo of the suffering and contributes to the haunting nature of the poem. Each stanza is divided into 3 to 4 line with rhyme units ABAB CDDC EFEF .The EF lines are maintained repetitively in each stanza to give an effect of a chant for the return of her lover and her unending predicament. The mind of Mariana, every object in her household and even nature the dawn, dusk and the night, all are alike entrapped in melancholy. This mutually intensifies the agony depicted in the poem .This is the poetic device of pathetic fallacy adopted in 19th century English poetry. It is a technique of attributing the feelings of the subject to external objects or nature to create a desirable effect. In the first stanza with the blackest moss crusted on the flower pots in the opening line, the poet draws us in to the dark mood followed by a thick cluster of strong images. The rusted nails holding the pear to the wall fall from the knots. This suggestive of the futile passage of time and how memories have become lifeless disjointed and dead. The broken sheds symbolize her state of mind and serpentine hissing sound ingrained in the words â€Å"sad and strange â€Å"evoke ideas of sinister

Global harmonized system Essay Example | Topics and Well Written Essays - 250 words

Global harmonized system - Essay Example Initially, countries venturing into the trade of chemicals used their symbols to represent different classifications. For example, different countries developed their own symbols for acute toxicity in different chemicals. However, this proved to be challenging during trade as the symbol was probably used for a different level of toxicity. As a result, the importing country would not apply the necessary. From the Global Harmonized System classification scheme, acute toxicity is classified under health hazards. Toxicity may be transmitted through oral methods, dermal methods or through inhalation (Kutz. 2009). The standardized symbol for acute toxicity is a skull with cross bones, or an exclamation mark. The exclamation mark applies in chemical hazards that may cause damage to specific body organs. This will allow countries exporting and importing acutely toxic substances to understand the necessary precautions to be applied, in countries that have implemented the Global Harmonized Sys tem.The acute toxicity grid was designed by the United Nation to help in the monitoring of effects of oral or dermal administration of multiple or single dose of a substance within a period of 24 hours. If a chemical substance has an oral LD50 of 295 mg/kg body weight, the GHS category for acute toxicity is category 3(United Nations, 2007). This is because it is close to the maximum range mark of 300 mg/kg body weight. The inhalation LD50 range that will give a category 3 classification for acute toxicity is 50-300 mg/kg body weight.

Retail Marketing - John Lewis Company in the UK Essay - 1

Retail Marketing - John Lewis Company in the UK - Essay Example The retailing industry is essential to the modern consumer culture that depends on the speedy delivery of goods to the consumer in the market. A typical retail outlet may range from a handful of goods to entire shopping lists depending on the size of the retailing company. Historically retailing businesses in Great Britain have often diversified their total offered lineages as well as putting a focus on expansion since long. The first appreciable move towards assuming a large retailer framework is evident from the early business strategies of John Lewis Partnership that has been chosen for the sake of analysis. The company started out as a simple store but soon the owner John Lewis procured a few other stores before the First World War. Later his son introduced a novel framework for retailing by introducing an employee led partnership. After his death the entire business was bequeathed to the employees of John Lewis Partnership and this has continued as is since 1925. 1.1. Current St ate of the John Lewis Partnership At this point in time the John Lewis Partnership has diversified its business interests such that it owns and operates John Lewis departmental stores, the Waitrose supermarkets as well as a number of other services. The company is still owned by its current employees who are designated as partners. These partners all have an effective say in the manner in which business is conducted. Moreover each partner is provided with a piece of the annual profit of the company which generally ranged between 5% and 20% of the pays of partners throughout an average year between 2000 and 2011. 1.2. Market Standing Currently John Lewis Partnership stands out as the third largest private company in the United Kingdom with a revenue of 6.74 billion pounds in 2009-2010 (The Sunday Times, 2010) along with some 76,500 employees on the pay roll in 2010 (Madelaine, 2011). In addition to the above, John Lewis Partnership has become the United Kingdom’s â€Å"best h igh street† website after it took the place from Marks and Spencer’s in October 2010 (Bold, 2010). John Lewis also serves as the supplier for the Ocado web supermarket chain. Ocado is supplied with the Waitrose brand food products as well as with other non food items from John Lewis directly. Overall the image of the John Lewis Partnership brand and its affiliate’s image are upmarket. Historically John Lewis has appealed to the more fiscally independent customers namely customers present within the middle and upper classes. 2. Retailing Issues 2.1. Drop in Purchasing Power The downturn that has been visible in the global economy since 2008 has had the consequence of lowering the spending levels available to the average consumer. The drop in purchasing power has been all the most noticeable in the North American and Western European markets that were deemed as the markets with the greatest consumer purchasing power. The British market has felt similar problems as well when it comes to purchasing power. Overall consumers are spending less and less when it comes to commodities that are often stocked by retailers. In this respect the overall trend in the British retail industry reflects a slowdown as well. The emergence of other phenomenon related to the recession based phenomenon such as the Euro zone crisis have also shaken consumer confidence in spending at previous levels. Moreover a number of consumers are already spending less in an effort to save more money to avoid situations that

Quantitative Research Statistics Project Example | Topics and Well Written Essays - 6500 words

Quantitative Research - Statistics Project Example There are many different research designs that can be used by individuals asking research questions in LIS contexts, all of which provide credible evidence for improving practice. Qualitative approaches have been used in library and information settings to assess patron perceptions about library services, to examine the effectiveness of information literacy strategies and to address a host of other questions related to library and information work. In addition, a number of qualitatively based textual approaches (such as critical theory and discourse analysis) have been used to assess policy documents and organizational discourses, the construction of classification systems, and other questions that require an exploration of textual forms of data. Increasingly, researchers are also using these approaches in conjunction with one another (i.e. a "mixed methods" approach) to give a more complete picture of the state of LIS practice; for example, a recent study of mature university studen ts used qualitative interviews with students in conjunction with a textual discourse analysis of campus texts, as well as a manipulation of quantitative census data, to provide a broad contextual picture of students' academic information behaviors. In order to focus this discussion on qualitative research, in particular, it is necessary to draw lines between these different paradigms and to then examine qualitative work in more detail. However, it is important to note that research paradigms are quite fluid, and that many researchers are now trying to expand beyond a single approach to obtain the best possible evidence. The nature of qualitative resea

Are all Americans that Attend Sunday Church Christians Essay

Are all Americans that Attend Sunday Church Christians - Essay Example Christian critics have debated the role of the Sabbath day and what Christians should do during the day. However, the major area of contention is the activities that man is supposed to be engaged during the day in accordance with the Christian teachings. The creation process according to Alister (1999, p53) occurred at the beginning, where there ‘was a word and the word was God’. This process is described in Genesis, a book contained in the Old Testament written many centuries before the birth of Jesus Christ, from whom Christians follow His teachings. The birth of Jesus Christ whom Christians regard as the son of God and as God himself exemplified the Sabbath day from which modern Christians follow in churches. The idea of Sabbath from the period that God created the world to the time of Jesus ministry has virtually remained unchanged and current Christians emulate the work and teachings of Jesus Christ on the Sabbath day. Many theologians have researched on the relatio nship between work and Sabbath in the Christian teachings. Karl Barth (1979, p40) a seasoned theologian argues that on the Sabbath day, God rested to celebrate his creation. In this regard, all Christians should leave behind their daily activities and join others in fellowship to celebrate God’s creations. ... The New Testament documents many incidents where Jesus observed the Sabbath day in accordance with God’s commandment. In Luke4:16, Jesus is recorded to have gone in the synagogue on the Sabbath day where he taught and read sermons to the congregation. Luke 6: 6 documents an incident when Jesus taught the congregation about a man whose hand was withered. These incidents demonstrate that Jesus celebrated the Sabbath day by engaging in God’s work. He worshipped, taught, and prayed with other believers in addition to performing miracles (Bruce, 2000, p34). Jesus Christ’s actions on the Sabbath day and are compliant with God’s commandment, which requires all believers to observe the day and keep it holy. Many critics have questioned why Jesus Christ performed miracles on the Sabbath day whereas God had forbidden work on that day. However, Jesus work was dedicated to God’s ministry, a practice that modern Christians follow to date. Attending Sunday church services is the continuation of God’s work and the mere action of attending the services qualifies all worshippers to be Christians. However, not all Americans attending the Sunday church service are Christian unless they follow the teachings of Jesus Christ. According to Alister (1999, p63), Christianity is a calling where believers are supposed to accept their failings and dedicate themselves to learn God commands. Accepting their weaknesses involves acknowledging that they are sinners and then seeking for forgiveness. Repentance according to Alister (1999, p 58) brings ‘change’ to a person by adopting a lifestyle that is compliant with God’s teachings. In addition, the repentant Christian should undergo baptism.

Discussion 2 Week 5 Market Research Assignment Example | Topics and Well Written Essays - 500 words

Discussion 2 Week 5 Market Research - Assignment Example For instance, a government agency, CDC plans to purchase a medical equipment which would address health needs of a population at risk in a certain state. As such, it is in the most appropriate capacity, in terms of knowledge, resources, and skills to discern the best research methodology to use in justifying that purchasing the equipment would benefit the identified population and achieve health standards and goals of the federal government. 2. Analyze the importance and explain the value of a market research plan in the acquisition and distribution of supplies and services. Support your position with examples. Explain which aspect of the market research plan is likely to be the most valuable for those seeking to acquire a company. A market research plan enables the government agency to identify in a more in-depth presentation and structure, their needs in the acquisition and distribution of supplies and services; as well as the manner within which these identified needs are to be satisfied through the results generated from the research. As emphasized, â€Å"agencies use the results of market research to determine if sources are available to meet their needs, especially any sources providing commercial or nondevelopmental items† (OConnor, 2007, p. 174). The market research plan is revealed to have no prescribed format; but should contain, at least, the following aspects: â€Å"explanation of the acquisition’s background and purpose; description of the agency’s minimum needs, in terms of function and performance; desired schedule of delivery; list of small business and other sources who were contacted, including the methodology used for compiling and refining the list of potential vendors; discussion of customary commercial practices; identification of price ranges discovered; and a description of available commercial or non†developmental items† (U.S. Small

Speech Writing Essay Example for Free

Speech Writing Essay ASSESSMENT OF SPEAKING AND LISTENING SKILLS IN ENGLISH (ASL) CCE (Continuous and Comprehensive Evaluation) the flagship project of CBSE has clearly outlined the significance of speaking and listening skills as part of co-scholastic areas of achievement by every learner and also stresses the clear integration of evaluation of speaking and listening skills as a part of the curriculum transaction. The formative assessment of these two skills along with other skills have been formally provisioned under CCE . But in the absence of Summative Assessment, we have not positioned the learner’s proficiency in Speaking and Listening thereby leading to a wash back effect of very little or no importance given to Speaking and Listening Skills in many classrooms . As a result a large population of students passes out of schools with inadequate competence in expressive communication skills. As good communication skills raise the self esteem of a student, CBSE essentially desires that the students acquire proficiency in it by the time they leave the portals of the school. In the present day global markets, speaking and listening are considered to be the essential skills of real life. Since CBSE has the onerous responsibility of assessing scholastic and co-scholastic achievement levels of students in over 12000 schools affiliated to it , it has been felt for a long time that CBSE must focus on assessing speaking and listening skills for qualification as Summative Evaluation as much for Formative Assessment . Considering this, CBSE proposes to give weightage in Formative and Summative assessments in ASL (Assessment of Speaking and Listening Skills). This weightage is clearly specified in the 2014 curriculum document uploaded in the CBSE Academic website. Guidelines for teachers to assess Speaking and Listening Skills in the term-end examination: LISTENING The Listening Comprehension section tests the candidate’s ability to listen for basic interpersonal, instructional and academic purposes. A number of sub-skills need to be developed in the every day classroom transaction. Given below are some of the sub-skills of listening which need to be assessed in the formative and summative assessments: i. i. iii. iv. v. vi. vii. Listening for specific information Listening for general understanding Predictive listening Inferential listening Listening for pleasure Intensive listening Evaluative listening 1|Page Role of Assessor: An assessor is a person who is assigned the job of assessing a candidate’s performance in any of the skills that is to be assessed. For the purpose of the Summative Assessment, an assessor will be a t eacher who would also be an examiner or an interlocutor who will conduct the examination and do the assessment if skills. It is extremely important to keep in mind the factors listed below as they can significantly influence the expected outcome of the Listening Test. Therefore, due care and attention must be given to each of the following: ? ? ? ? ? ? Size of the room Seating arrangements Acoustics of the room Equipment used Quality of the recording of the Listening Input Quality of the oral rendering of the Listening Input (in case it is to be read aloud by the Examiner), in terms of volume, clarity, enunciation, intonation, pace etc Test Administration: For the Assessor (Teacher) 1 2 3 4 5 6. Select the time and date of the assessment. Plan the seating arrangements in advance. Decide exactly as to how much time is to be reserved for instructions or any possible interaction regarding clarifications etc and for the actual test. Make the announcement giving General Instructions directed to the Candidate before the recording is played/before the reading of the text. Adhere strictly to the time specified for each of the three phases of the Test (Pre-listening, While Listening and Post-Listening) The general instruction given below should be followed while conducting the test. The Listening Test The Listening test comprises of a variety of task. These tasks are graded according to the length of the task and the difficulty level. Schools may download the sample tasks and reorganize them in two parts transcripts and the marking scheme for the interlocutor or the assessor and the worksheets for the students on which student swill write answers. General Instructions for Students You are not allowed to ask questions or interrupt the Assessor at any point. 1 2 3 You are being tested on your Listening Skills. You will hear a set of recordings of the Listening Input or listen to a reading of the Listening Input. Each of the recording will be played twice. In case there is an oral rendering of the Listening Input, it shall take place twice. 2|Page 4 5 6 7 8 9 10 You are required to answer a set of questions based on each of the Listening Inputs. The test consists of 4/sections. You are required to attempt all 4 sections of the test. Familiarize yourself with the questions on the Worksheet. It will help you to answer them later on. After you have listened to the input, you will be given specified minutes to answer the questions on your worksheet You may answer the questions on your Worksheet while listening. Do not interact/comment until you have moved out of the Examination Room Assessment of Listening The marking key is prepared before the test is administered. It will take about a period of 30-35 minutes to conduct a listening test. At the end of the test, the answer scripts should be collected and marked. It is objectives type of marking. Hence, it is suggested that scripts may be marked on the same day. SPEAKING Speaking skill has acquired a very important place in the communication skills. Like listening skills – a number of subskills of speaking need to be consciously developed amongst students. Some of the sub-skills are given below which can be assessed. 1. 2. 3. 4. 5. 6. 7. speaking intelligibly using appropriate word stress, sentence stress and intonation patterns. narrating incidents and events, real or imaginary in a logical sequence. presenting oral reports or summaries; making announcements clearly and confidently. expressing and arguing a point of view clearly and effectively. taking active part in group discussions, showing ability to express agreement or disagreement, summarising ideas, eliciting the views of others, and presenting own ideas. expressing and responding to personal feelings, opinions and attitudes. articipating in spontaneous spoken discourse in familiar social situations. General Instructions 1 The total administration time for the speaking test is approximately 10-12 minutes 2 3 4 The speaking test will be conducted for two students at a time. There will be a single teacher to function as the Interlocutor and Assessor. The Interlocutor/ Assessor s hould be a qualified English Teacher The Speaking Test: Role of Assessor: 1. The (Assessor) should ensure that the room is quiet and has good acoustics. 3|Page 2. The tone, manner and body language of the Interlocutor should be relaxed, encouraging and pleasant. Care should be taken to make the candidates feel at ease. 3. Students must not be discouraged from making a fresh start in case they are unable to do so at the first attempt. 4. The Assessor needs to be flexible, sympatric and reassuring in her/his demeanour. 5. The Assessor should also be a proficient user of the language in order to conduct the speaking test successfully. For e. g . the interlocutor should be skilled in Elicitation techniques. For e. g. Yes/No questions should generally be avoided. 6. Alternatively questions such as Explain how/Why Tell me what you think of. 7. Ideally, the Assessor should award marks after the candidates have left the Examination Room. If necessary, notes can be made discreetly to be later in the scoring so that it does not make the candidates unduly tense and self-conscious. The Speaking test is divided into three sections as given below: I General Introduction The Interlocutor converses with the two candidates. Simple warm up questions based on the candidates’ names, place of residence, leisure preferences etc are asked. II Mini Presentation In this section the Interlocutor gives each candidate the choice to pick up a Role Card or a Cue Card with a topic written on it. The candidates are given 1 minute to prepare. The assessor should be ready with sheets of paper and pencil. Candidates may organize their thoughts and ideas. Prior to the day of the speaking test, as an assistance to students to prepare for the presentations, a teacher can give a choice of 20 to 30 topics in class to students so that they can prepare the topics and organise their ideas on each topic . Similar topics can be given in the formal testing . Please note that candidates are not allowed to write full length answers. They may jot down points only in the sheets given by the Interlocutor. Therefore, pencil and paper should be provided on the table. Students are not allowed to carry pen, paper or mobile in the examination room. After one minute, each student will be given 2 minutes each to present his/her ideas. In case, a student is unable to speak during /for the allotted time, the (Assessor) may ask some rounding off questions. III Pair Interaction The third section of the test is for 3 minutes. Both candidates are given a verbal or visual stimulus and asked to respond to it Both the candidates are given a total of 3 minutes to interact. Both of them will talk together. Closing 4|Page The closing is for 1 minute duration only. In case a student has not been able to speak or has been unable to speak owing to nervousness, the dominance of the second candidate or any other factor, then, the (interlocutor) may use the 1 minute to give a fresh opportunity to that student. Note: In the Summative II assessment it has been proposed to record the candidates’ performance in the MP 3 players/ recorders, so as to validate and make the test reliable and fair. Assessment of Speaking Assessors should familiarise themselves with the assessment scale of speaking. While the students are giving their presentation, assessors may refer to descriptors. It is they may share these indicators with the students while formative assessment tasks are given. As the test will be conducted for two students at a time, it is advised that two to three teachers sit in separate rooms to conduct the assessment of students of one section at a time. Hence 48 students can be assessed simultaneously within one and half hours, in three batches of 16 students each. Assessors are advised to pay due attention to and familiarize themselves with the design of the test items. The sample test items are given here as Annexures here. Similar test items can be framed according to the need and level of students. The descriptors are given below for reference: Interaction ? 5. Can initiate logically develop simple conversation on familiar topics Can take turns appropriately ? 4. Interaction is adequately initiated and developed Can take turn but needs little prompting ? 3. Develops interactions adequately makes however minimal effort to initiate conversation Needs constant prompting to take turns ? 2. Contributions are often unrelated to those of the other speaker ? 1. Contributions are mainly unrelated to those of other speaker Shows hardly any initiative in the development of conversation Very limited interaction 1 Insufficient accuracy in pronunciation; many grammatically errors Communicatio n is severely affected ? ? ? ? ? Generally passive in the development of conversation ? Pronunciation ? Can pronounce correctly articulate clearly ? 4 Mostly ? correct pronunciation clear articulation Can be clearly understood ? most of the time; very few phonological errors ? Is always comprehensibl e; uses appropriate intonation ? 3 Largely correct ? pronunciation clear articulation except occasional ? errors Some expressions cause stress without compromising with understanding of spoken discourse. ? 2 Frequently unintelligible articulations Frequent phonol ogical errors Major communication problems ? ? 5|Page Fluency Coherence 5 ? Speaks fluently almost with no repetition minimal hesitation ? Develops topic fully coherently ? 4 Speaks without noticeable effort, with a little repetition Demonstrates hesitation to find words or use correct grammatical structures and/or self correction Topics not fully developed to merit Can express with some flexibility and appropriacy on most of the topics Demonstrates ability to use complex forms and sentence structures most of the time; expresses with adequate vocabulary to express 3 Is willing to speak at length, however repetition is noticeable Hesitates and/or self corrects; occasionally loses coherence Topics mainly developed, but usually not logically concluded Communicates with limited flexibility and appropriacy on most of the topics Sometimes uses complex forms and sentence structures; has limited vocabulary to/describe/exp ress new points ? ? 2 Usually fluent; produces simple speech fluently, but loses coherence in complex communication Often hesitates and/or resorts to slow speech Topics partly developed; not always concluded logically Communicates with limited flexibility and appropriacy on some of the topics Complex forms and sentence structures are rare; exhibits limited vocabulary to express new ideas ? Noticeably/lon g pauses; rate of speech is slow Frequent repetition and/or self correction Links only basic sentences; breakdown of coherence evident Demonstrates almost no flexibility, and mostly struggles for appropriate words Uses very basic vocabulary to express viewpoints. ? ? ? ? ? ? Vocabulary Grammar ? Can express with some flexibility and appropriacy on a variety of topics such as family, hobbies, work, travel and current events frequently uses complex forms and sentence structures; has enough vocabulary to express himself/herself ? ? ? ? ? ? ? ? ? 6|Page ASSESSMENT Grand Total Sr. No. Name of Student Interaction Pronunciation Fluency Coherence Vocabulary and Grammar Total 20 ? can we just write (5) 5 4 3 2 1 5 4 3 2 1 5 4 3 2 1 5 4 3 2 1 1 2 3 4 5 6 7 8 9 10 11 12 13 7|Page 14 15 16 17 18 19 20 21 22 23 24 25 26 Signature of the Assessor 8|Page Set – I Assessment of Listening Skills Sample Tasks Class IX LISTENING Instructions: a) There are 10 questions in this set. Answer all the questions b) In the first part you will listen to five short extracts. As you listen to each one, answer the questions in your answer sheet. c) Before you begin to listen, read the questions quickly and get familiar with the questions. 0 Marks Part I 1. Transcript of the police announcement: Here is an announcement by a police officer on a local city channel. This is regarding an alleged criminal who is evading the arrest. Anyone who has a clue can come forward and inform the police at 100. So, here is the descriptionThe criminal has a broad face with a thick moustache and a be ard. Which one of the following faces are they describing? A B C D Tick the correct answer: A. B. C. D. Ans: C ____ ____ ____ ____ 2. Here is another situation, listen to it carefully. This is about the garden of Suresh. Transcript Suresh does not want people walking around in his vegetable garden that he has nurtured with great care. What sign board should he put up? 9|Page B C D Tick the correct answer A. B. C. D. Ans: C ____ ____ ____ ____ 3. Monu wants a penpal. Listen to his description of himself and fill in the columns given below: Transcript: Hi! My name is Monu and I’m from India. I live in Raipur near a lake. Since I have always lived here, I love water sports. I am twelve years old and love reading about plants and animals that live in the water. My box number is P. O. Box 002200. Fill in the blanks: Age Nationality . Here is the dialogue between Amit and Anand who have just completed their schooling. They are talking about some of the organizations which offer scholarships to students for different purposes. Amit is research minded and keen to take up a career in agriculture, which organization of the world would he apply to? Transcript: Listen to the dialogue and write your answer: Amit: I h eard about a Tall Clubs International that gives a scholarship of 1000/- per month to men above 6 feet and women above 5 feet 10 tall. Interesting†¦.. Anand: Oh! really, my height is only 5 so I am not eligible. Jokes apart, I have found a society â€Å"CV Raman Society† that awards scholarships to students who have interest in Science Technology. Amit: No, I don’t have any interest in Science Technology. I want to pursue a career in agro industry. Anand: So, in that case, The National Paotato Council has a number of scholarships for students who want to work for agro industries. Amit: But does it award scholarships to undergraduates? 10 | P a g e Anand: Yes, it does. There is another one that gives 500/- per mother to graduates or undergraduates, I will have to find out the field for which it gives. Amit: Thank you, please let me know which organizations award the scholarships. Ans: Amit will opt for___________________ Transcript: 5. Joy wants to live in a village near the city. It should be a small house with low doors and ceilings. He would prefer it to be located near the sea. Which house would you recommend for him? A B C D Tick the correct answer A. B. C. D. Ans: B ____ ____ ____ ____ Part II Instructions: a) You will now listen to the talk by Dr. Praveen Chawla on healthy foods. b) There are five questions to be answered. Read the questions quickly before you listen to the talk c) Now listen to the talk nd write your answers ‘Nature has given us everything that our body needs. If we take care we can avoid pills. Did you know that Mushrooms not only make tasty dishes but are a rich source of Vitamin D so essential for healthy bones? Regular consumption of mushrooms aids in better hearing power too. You must have heard of the Banana smile. Believe it or not this fruit can actually put a smile on your face. It contains tryptophan, a protein which once digested converts into a chemical neurotransmitter called serotonin which is a very important mood regulating chemical and works like an antidepressant. 11 | P a g e Broccoli has also come to be called a disease busting vegetable. It can prevent cancer. About 2000 years ago the curative powers of Ginger for all stomach related problems were discovered. It helps digestion, cures nausea and prevents bowel tumours Cheddar cheese is a very rich source of calcium and phosphate. These strengthen bones and muscles and reduce risk of osteoporosis. Grapes, which look so much like the lobules in the lungs, are rich in proanthocyanidin a chemical which helps circulate fresh oxygen to the blood stream thereby reducing the risk of cancer and also reduce the severity of asthma. If you cut a tomato into half, you will notice that it has four chambers just like our heart. Tomatoes are a great source of lycopene, a plant chemical that reduces the risk of heart disease and several cancers. This also helps lower the unhealthy effects of LDL cholesterol. The gnarled look of a walnut, mimicking the appearance of a human brain, is perhaps the only fruit rich in Omega -3 and fatty acids tends to ward off dementia and to some extent Alzheimer’s disease. (286 words) I. Fill in the blanks with a word or phrase 6. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ are rich in Vitamin D and help in good hearing. 7. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. ood regulating chemical can make you feel happy. Ans: Banana 8. Broccoli keeps away †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Ans: 1. Mushrooms 2. Banana 3. Cancer II. Tick the most appropriate answer from the choices given below: 9. The food containing lycopene which reduces heart attack risk is A. grape B. tomato C. cheese D. walnut Ans: B. tomato 10. In the talk, Dr is advising people to A. eat a balanced diet B. be happy; live healthy C. live close to nature D. eat healthy food Ans: D. eat healthy food Closing This is the end of your listening skill assessment. Check your answers. (2 minutes) Hand over your answer sheet to the assessor. 12 | P a g e Set – II Assessment of Listening Skills Sample Tasks Class IX LISTENING Instructions: a) There are ten questions in this test. b) Answer the questions as you listen to the scripts. c) you will listen to four shorts extracts. As you listen to each one, answer the questions. I. Now listen to the news report and write correct answer 10 Marks Transcript 1. Kathmandu, May 14: Thirteen Indians were among the 15 people killed when their 20-seater aircraft slammed into a cliff in western Nepal, less than seven months after 10 Indian tourists were killed in an air accident. Six people miraculously survived the crash. A. B. C. D. Ans. B There was an explosion before the crash The crash was a consequence of collision with a cliff There have been several air crashes in the recent past Indians always die in the air crashes in and around Nepal Transcript 2. E mailing has enabled us to communicate messages to one another at a very fast pace. However, there are times when we have to post important letters and documents by surface or air mail. The postal department is very slow. Listen to the comment by an officer to his colleague. What option do you think the speaker would NOT opt for? A. B. C. D. Ans. C e-mail air mail postal department surface mail Transcript 3. City dwellers often depend on cars, buses or metros to travel from one place to another. Bicycles used to be a popular mode of travel once. I think we need to popularise them once again if we need to tackle the pollution problem. The speaker advocates the use of †¦ Now; listen to an environment activist who is talking to one of his friends. A. cars B. buses C. bicycles D. metros Ans. C 13 | P a g e Transcript 4. ‘The Mars rover Curiosity landed on the Martian surface to begin a two-year mission, seeking evidence that the Red Planet once hosted ingredients for life,’ Nasa said. Mission controllers at the Jet Propulsion Laboratory near Los Angeles burst into applause and cheered as they received signals relayed by a Mars orbiter confirming that the rover had survived a make-or-break descent and touched down within its landing zone. What is the news report about? A. B. C. D. Ans. B invention of Curiosity landing of Curiosity happiness at the Jet Propulsion Laboratory possibility of living on Mars Transcript 5. A V-chip has been developed. In addition to spelling out the age-based ratings, letters will be displayed to warn parents if a show contains violence or other objectionable content. A group of major networks and producers have agreed to go along with the system, but NBC will not. What does the V-chip do? A. B. C. D. It allows the cable company to monitor what TV programs you watch It turns your TV into a virtual reality computer. It allows parents to block out certain programs, so their children cannot watch them. It reduces the use of the remote control device Ans. C II Now you will listen to a long text a) Before you listen to the talk, read the questions for 1 minute. b) Your will listen to a talk about Tigers. Transcript: Tigers are being loved to death. Tourists desperate for a glimpse of a tiger are damaging habitat and harassing tigers. This by no means decides that tiger tourism or wildlife tourism is a bad thing. Wildlife tourism has a lot of advantages. Wildlife tourism helps people of the area who get employ in tourism. In this way, wildlife is valued, rather than poached, or encroached upon. Wildlife also inspires the people who see it. For many, a dramatic view of one of the world’s great beasts — a tiger, a leopard, a whale — is a life-changing experience. Such a sighting makes people aware of the fragility of the planet and the folly of our short-term thinking. Above all, it prompts people to step back from our traditional species chauvinism. Wildlife tourism is similarly equivocal. When carried out with wisdom and responsibility, it is the best possible news for the creatures and the people of the area, and for the people doing the touring. Wildlife tourism can sometimes, with the best of intentions, be stupid, greedy and destructive. 14 | P a g e An adjustment of practice in India’s wildlife tourism is a good thing. It is not tourists that are killing off tigers: it is, above all, the world’s ever-increasing human population, and its incontinent need for room to live in. 231 words) A. State whether the following statements are true (T) or false (F) 6. People’s fascination with the tigers is causing them harm. 7. Wildlife tourism should be banned. 8. Tigers tourists are destroying their living places. Ans: TRUE Ans: FALSE Ans: TRUE B. Fill in the blanks with a word or phrase. 9. Wildlife tourism helps in †¦Ã¢â‚¬ ¦ . 10. Ans: employing people/ generating employment Wise and responsible behaviour is expected from tourists who go for wild life sightings Ans: human population. 15 | P a g e Set I Assessment of Speaking Skills Sample Tasks Class IX SPEAKING Instructions: ) The speaking test will be conducted for two students at a time. b) Students should not have pen, paper, mobile phone etc. c) The teacher will be an interlocutor and an assessor both. I. GENERAL INTRODUCTION (1 min) (The Interlocutor makes the students feel comfortable) Interlocutor: Good morning, I am -. Hope you are looking forward to this brief interaction. Student A: Yes -/ I am Interlocutor: And what about your? (Looking at student B) Student B: Interlocutor: What do you do in your spare time? To Student B) Student B: Interlocutor: And how about you? (To student A) Student A: -Interlocutor: What makes you special? (To student A) Student A: -Interlocutor: What about you? (To Student B) Student B: -Interlocutor: What do admi re in other people? (To student A) Student A: -Interlocutor: How about you? (To Student B) Student B: Interlocutor: Thank you, this is the end of the first part of the test. II MINI PRESENTATION (1 min Preparation+ 2 each min each for the students= 5 min) 0 Marks Now, in this part of the test, candidates are given a topic with some points. They have a minute to prepare on the given topic and two minutes for the presentation. 16 | P a g e Students are given the following sets of inputs on cards or papers. Three options are given. Only one option has to be used at a time. Interlocutor: (To both A and B) Here is your topic. Both of you prepare your presentation on it. You are given one minute for preparation. Please use pencil and paper for writing points. After one minute I am going to ask you to present your views on the topic. I can ask anyone of you first. So be prepared and get ready. (Interlocutor hands over one card with cues to both A B) I. 1. 2. 3. Mobile phones in school Security Multiple uses Distraction If the student is not able to speak at length the teacher could ask rounding off questions ? Do you think mobile phones should be allowed in school? ? Give two advantages of carrying a mobile phone to school. ? Do you think advantages outweigh the disadvantages? II. Changing Concepts and Methodologies of Teaching-learning in India 1. Examination Pattern 2. Variety of Subjects 3. Assessment Parameters If the student is not able to speak at length the teacher could ask rounding off questions ? Do you like this present system of evaluation? ? Do you learn better when you are stress free? ? Do you think some students take this system very casually? III. An incident/person/book that changed my life. 1. What it is 2. What it is about 3. How it affected me If the student is not able to speak at length the teacher could ask rounding off questions ? What was that specific quality that remained with you? ? What did you learn? ? How would you like to be now? III PAIR INTERACTION (3 mins) Interlocutor: In this part of the test the candidates A and B will discuss the given topic together . The interlocutor can refer to the assessment scale while the candidates are discussing together. Students respond to visual/ verbal stimulus. 1. Changing roles of women- a multitasker, works in office, answers phone calls, always under pressure of work. Working at home additional. 17 | P a g e 2. Growing Pollution, all kinds of pollution water, air and tourism pollution. 3. Discipline issues in schools are now becoming a serious concern. As responsible citizens discuss i. ii. iii. Kinds of indiscipline issues Reasons for growing indiscipline Advice / solutions to your fellow students. Closing (1 min) Thank you very much. That was the end of your test. The interlocutor retrieves the pencil and paper . 18 | P a g e Set II Assessment of Speaking Skills Sample Tasks Class IX SPEAKING Instructions: a) The speaking test will be conducted for two students at a time. b) Students should not have pen, paper, mobile etc. c) The teacher will act as an interlocutor (who is involved in a conversation) as well as an assessor who will also give marks to the candidates. 10 Marks I GENERAL INTRODUCTION (1 min) The Interlocutor makes the students feel comfortable) Interlocutor: Hello! Good morning, I am -. May I know your name please? Student A: My name is -/ I am Interlocutor: And yours? (Looking at student B) Student B: Interlocutor: Where do you live? (To student B) Student B: Interlocutor: How about you? (To student A) Student A: -Interlocutor: What do you do in your leisur e? (To student A) Student A: Interlocutor: And what do you do in your free time? To student B) Student B: Interlocutor: What hobby would you like to cultivate? (To student A) Student A: -Interlocutor: How about you? (To student B) Student B: 19 | P a g e II MINI PRESENTATION: In this part of the test teacher will give 1 minute to prepare and 2 minutes each to both students to present (5 min) Oral examiner can frame any inputs; the following two frames are suggested: (1) To student B, describe something that you own and you value it tremendously. You have 1 minute to prepare and 2 minutes to present. ? ? ? Where did you get it from? How long have you had it? What do you use it for? Why is it so important for you? If the student is not able to speak at length the teacher could ask rounding off questions ? ? ? Did you buy it/ was it a gift? Would it be easy to replace it? Is it valuable in term of money? (2) To student A: You will be given one minute to prepare on your most memorable journey you will have 2 minute to describe your journey. (Each student is given 2 minutes to present) For student A ? ? ? ? Where did you travel to? What was the highlight of your visit? monument/temple/park/relatives) Which place would you like to visit next? Why are journeys relaxing? If the student is not able to speak at length the teacher could ask rounding off questions ? Was it a trip organized by the school? ? Did you go with the family? ? Was it a place you had never seen before? ? What fascinated you? Ask student B to ask a question. To student A: (Repeat) (2) Qualities that I value in a friend For student B ? ? ? ? Qualities I like in a friend Why do I consider these qualities important How many of these qualities do I have What is that one quality that I would like to inculcate If the student is not able to speak at length the teacher could ask rounding off questions ? Do you have a lot of friends? ? Why did you pick on them? ? Why do your friends care for you? Ask student A to ask a question 20 | P a g e (3) Changing role of women ? ? ? ? Varied jobs Working mothers Financial security Economicsocial independence If the student is not able to speak at length the teacher could ask rounding off questions ? ? ? Do women in your family work outside the house? Do you appreciate women working? Why? Do you think the advantages outweigh the disadvantages? III PAIR INTERACTION (3 mins): Instructions: a) Teacher to both students A and B Look at the visual carefully. Talk together for 2 minutes. Students are given 1 minute to think and prepare. And then their respond to visual/ verbal stimulus. (1) Child Marriage (2) Growing Obesity 21 | P a g e Verbal Stimulus (3) How do you imagine life in cities in the future? The interlocutor can give the following hints: ? Work ? Leisure/Entertainment ? Travel (4) What responsibilities do you think individuals have towards the environment? The interlocutor can give the following hints: ? Life style ? Shopping ? Finance IV Closing (1 min) Thank you very much. That was the end of your test. The interlocutor retrieves the pencil and paper. 22 | P a g e Set – I Assessment of Listening Skills Sample Tasks Class XI LISTENING Instructions: a) You will listen to the librarian of a new town library talking to a group of people who are visiting the library b) Before you listen to the talk, look at the plan of the Town Library given in your answer sheet. 1. As you listen, answer questions 1 – 5 in not more than one or two words. 20 Marks Transcript: Good morning, dear students. Now we are at the entrance to the town library. My name is Anita, and I’m the chief librarian here, and you’ll usually find me at the desk just by the main entrance here. So I’d like to tell you about the way the library is organized, and what you will find where. All of you have a plan in front of you. Well, as you see my desk is just on the right as you enter, and opposite this the first room on your left has an excellent collection of reference books. Here is the place where people can read or study peacefully. Just beyond the librarian’s desk on the right is a room where we have an up- to- date periodicals section. This houses the newspapers and magazines. This room also has a photocopier in case you want to photocopy any of the articles. If you carry straight on you’ll come into a large room and this is the main library area. There is fiction in the shelves on the left, and non-fiction materials on your right, and on the shelves on the far wall there is an excellent collection of books relating to local history. We hope to add a section on local tourist attractions too, later in the year. As you walk through the far door in the library just past the fiction shelves, there is a seminar room. This room can be booked for meeting or talks. The next door leads to that is the children’s library, which has a good collection of stories and picture books for youngster below eleven. Then there’s a large room to the right of the library area – that’s the multimedia collection, where you can browse through and borrow videos and DVDs. We also have CD-Roms you can borrow to use on your computer at home. It was originally the art collection but that’s been moved to another building. And that’s about it – oh, yes before I forget; there’s also the Library Office, on the left of the librarian’s desk. Ok, now I hope you all are fairly well acquainted with the layout of the library. (360 words) 23 | P a g e Instructions: You will listen to two short extracts. As you listen, tick the correct answer. Transcript: 11. The tiger population has dipped from thousands to few hundreds. Look at the graph depicting the tiger world population which is very dismal. It reflects a dramatic fall in the tiger population. Identify the graph. Tick your answer. A. B. C. D. A Ans: D B C D 1 mark 12. Now look at the Pie chart of populations of English native speakers. The pie chart reveals that the USA by far had an overwhelming majority. This was followed by the United Kingdom. Australia seemed to have the least numbers of English native speakers. Choose the pie chart which reflects the situation of native speakers of English. B A C D A B C D Ans: D 24 | P a g e 4 Marks 1. Before listening to the narration by one of the campers please read the question 1 – 4 given in your answer sheet. Listen to the narration and with the words that you hear. Transcript: One day in 1924, five of us who were camping in the Cascade Mountains of Washington saw a group of huge apelike creatures coming out of the woods. We retreated in terror and locked urselves in our cabin. The creatures pelted rocks against the walls of the cabin. All of us inside were quaking in our shoes. 8. 9. 10. 11. The number of campers†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Place of camping†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Intimidated by†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Method of attackâ⠂¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4. pelted rocks Ans: 1. Five 2. Cascade Mountains 3. huge apelike creatures 2. Here is a dialogue between Neetu Kumar and the receptionist. Neetu Kumar is fixing a doctor’s appointment. Listen to this dialogue and answer the questions given in your sheet. Transcript: Receptionist: Good morning, KVG Hospital. How can I help you? Neetu: I am Neetu Kumar. I’d like an appointment with your cardiologist, Dr Suresh Reddy, please. R: For when would you like the appointment? N: For tomorrow? R: Please hold the line. I’ll check if I can fit you in tomorrow. N: Sure, thanks. R: Thanks for holding. I’m afraid Dr Suresh is fully booked tomorrow. Would you like to see our other cardiologist Dr Dinesh Mehra instead? N: I’m sorry, but we’d prefer to see Dr Reddy. R: That’s all right. In that case, would you like an appointment with him for the day after? N: That’d be fine. R: Would 12 noon suit you, Ms Kumar? N: Sure. R: Could I have the patient’s name and age? N: It’s Mrs Prema Kumar. She’s 65. R: Is this her first visit to KVG? 25 | P a g e N: Yes. R: Are you consulting Dr Reddy on your physician’s advice? N: No, a friend of mine suggested we see him. R: OK, I’ve put you down for 12 noon, Friday, 15 September. Please be here by 11. 30. N: Thanks! R: You’re welcome. Can I have your phone number, please? N: 9940109932 R: Thank you, Ms Kumar, have a nice day! Task Fill in the information in the appointment book. 12. 13. 14. 15. 16. 17. 18. 19. 20. Doctor ________________________ Day and date __________________________ Time ________________________________ Name of atient _________________________ Age _______________________ Referral Yes/No If Yes, doctor’s name ____________________________ Contact person __________________________ Contact phone number ___________________________ 26 | P a g e Set – I Assessment of Speaking Skill Sample Task Class XI I GENERAL INTRODUCTION (1 min) 10 Marks (The Interlocutor makes the students feel comfortable) Interlocutor: Good morning, I am -. Student A: My name is -/ I am Interlocutor: And yours? (looking at student B) Student B:Interlocutor: How would you describe yourself? to student B) Student B: Interlocutor: What about you? (to student A) Student A: Interlocutor: What is that one thing that you would like to change in yourself? (to student A) Student A:-(The interlocutor/assessor gives instructions for the mini presentation. ) II MINI PRESENTATION In the mini presentation, students are expected to speak for two minutes on a given topic. The interlocutor gives them pencil and paper to write points. They are not supposed to write complete answers. (1 min Preparation+ 2 each min for students= 5 min) The input cards are given to the students. Any one out of the four can be given to the pair. The Interlocutor may ask any student A or B begin first. After one student has finished his or her presentation, the student should be asked to ask a question on the mini presentation. The same process should be repeated with the other student also. a. What skill would you like to learn most in the future? Why? (1) My choice of a career ? ? ? Why is it important? How do you hope to achieve your goal? How do you think would you be a productive member of the society? If the student is not able to speak at length the teacher could ask rounding off questions 27 | P a g e ? How did you decide on your choice? Do you have other options? (2) What would you preferlife in Rural or Urban area? ? ? ? Choice Three reasons Difference If the student is not able to speak at length the teacher could ask rounding off questions ? Have you been exposed to both the life styles? ? How is it different? (3) Advantages of co education ? ? ? Society consists o f men and women Rapport is built Helps in adult life If the student is not able to speak at length the teacher could ask rounding off questions ? ? What do you prefer? Why? Does it add to your comfort? (4) A book that I enjoyed reading ? ? Why did you pick up the book? How long did you take to read it? Genre of the book If the student is not able to speak at length the teacher could ask rounding off questions ? What kind of books do you enjoy? ? Have you heard or of seen a book that has been filmed? III PAIR INTERACTION (3 mins) Students respond to visual/ verbal stimulus. Students AB look at the picture and talk together to describe it. (1) Rag Pickers 28 | P a g e Teacher could ask prompt question: 1. 2. What are the environmental hazards if the waste is not managed in time and properly? What kind of a holiday would you prefer? Students look at the pictures and choose one, then talk together? Teacher could ask a prompt question. 3. ? ? ? Studying abroad High cut offs Easy money from parents Brand value and status symbol 4. Changing Values ? things that give status to people in your country ? changes since your parents’ time ? Reasons for changes IV Closing (1 min) 29 | P a g e Assessment of Listening Skills Class XI Set – II 20 Marks Instructions: a) Before listening to the passage on Tsunami read the questions. (1 min) b) Listen to the passage on Tsunami that caused devastation in Japan. While you listening complete the blanks. Transcript: The tsunami that hit Japan on March 11, 2011 has been labelled the countrys worst tragedy since World War II. The 8. 9-magnitude earthquake that hit north-eastern Japan and the 23-feet tsunami it triggered has left a trail of devastation in its wake. After the Ferocious Friday some numbers continue to haunt: tens of thousand dead; even more missing; 4,50,000 rendered homeless. The Japanese are familiar with natural disasters and are trained in handling a calamity and ways of evacuation. Statistics speak of a tremor occurring somewhere in the country about every five minutes with annually there being up to 2,000 quakes. But no amount of preparation proved enough for the recent calamity of colossal proportion. Natures fury swept aside every safeguard in place. Many perished in split seconds and those who escaped the wrath pleaded for aid in every possible way. The catastrophe has lead to an outpouring of grief from around the world. The quake-tsunami double blow wrecked parts of a beautiful country and scarred lives. It couldnt, however, crack the inherent willpower or destroy the strength of character of its beautiful people; the people who have stayed admirably calm under chaos and begun regrouping forces to rebuild what they have lost. Most eyewitness accounts from the affected zones spoke about residents experiencing power outages, shortage of drinking water and food but there being no panic, arson or emotional breakdown, as reported from other countries where similar disasters have struck. It’s temperament reflecting a society that cares for its neighbour. It was not the countrys technical competence which endeared, it was its people. They displayed dignity, discipline and a genuine desire to assist. (274 words) While you listen to the passage, tick the correct option 1. The tsunami of 2011 has been labelled the †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. . the countrys worst tragedy since World War II. b. the countrys worst natural calamity c. the countrys worst earthquake d. the country’s worst economic disaster Ans: b. the countrys worst natural calamity 30 | P a g e 2. The Japanese are familiar with natural disasters because†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. a. there is a tremor in the country about every five minutes b. they have nerves of steel and presence of mind c. they are technologically advanced and can cope with disasters d. they are used to being hit by a tsunami Ans: a. there is a tremor in the country about every five minutes B. Fill in the blanks 3. The quake-tsunami wrecked the beautiful country and scarred lives but it couldnt destroy †¦.. 4. The Japanese experienced shortage of drinking water and food but they did not resort to†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5. What endears the Japanese to the world is their †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Ans: 3. the strength of character/ the will power 4. unlawful means/ panic, arson or emotional breakdown 5. dignity, and discipline II. 1. Listen to James talk about his routine, and fill in the blanks given in your answer sheet: Transcript I guess I should tell you about what I do everyday. First, everyone has to get up at 5:30 A. M. The silly old rooster amed Harry loves to wake us up. Next, we have to make our beds and tidy up the cabin before our camp counsellor, Jeff, comes to inspect the place. Then, we have breakfast around 6:30 A. M. After that, we have some free time, so Ive been going down to the nearby stream to fish for a couple of hours. But yesterday, the only thing I caught was a n old shoe and a tree branch. Great catch, huh? Then when I was trying to swat a mosquito buzzing around my head, I slipped and fell in the stream and lost my fishing pole. That ended my fishing career. 6. 7. 8. 9. James is woken up by. The first thing that James does is†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ He eats breakfast at about †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ James talks of two mishaps when he went†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 2. Listen to the town planner describes the road. Which one is he talking about. Transcript Many types of road exist around the world. We are looking for well laid out thoroughfare which will be aesthetically laid out with a canopy of trees. 31 | P a g e A B C D Ans. C 3. Match the graphs to the correct definitions Transcript 10. 11. 12. 13. Ans: 1. 2. 3. 4. Sales fell steadily through over the year. Sales rose steadily over the year Sales increased sharply from June. Sales bottomed out in May C A B D A B C D 32 | P a g e 4. Match the images with the correct descriptions B C D Transcript 14. 15. 16. 17. Ans: a. b. c. d. 5. Youngman with dark glasses and a happy face Good-looking young man with black eyes Young man with glasses and a beard Old man with curly hair and glasses D A B C Listen to the telephonic conversation and fill in the blanks Transcript F: Hello Mrunal, Mira here. M: Hi Mira, how are you doing? F: I’m good but busy as always. Actually, I’m completing a project with Wipro. In fact I wanted to talk to you as I’m looking for an assistant – any ideas? M: Is it the database project? F: No, it’s about developing our brand. M: I see. Do you know what kind of person you are trying to find? F: The person needs excellent qualifications – it’s more the creative side of things. Moreover we need the person to be involved in. M: You could give Neera a call. She’ll help you as she’s doing all kinds of consultancy work. Currently she’s an advisor to a couple of large companies I believe. I can email you her details if you like. F: Great, thanks Ans a. b. c. d. 33 | P a g e a project an assistant creative / involved neera 18. Mrunal was busy completing †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 19. Mrunal wanted to Mira to help him find †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 20. Mrunal wanted the person who was†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. and †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Closing 34 | P a g e Assessment of Speaking Skill Set II Class XI 10 Marks I GENERAL INTRODUCTION (1 min) (The Interlocutor makes the students feel comfortable) Interlocutor: Good morning, I am -. Student A: My name is -/ I am Interlocutor: And yours? (looking at student B) Student B: Interlocutor: What do you do in your leisure time (To student B) Student B: -Interlocutor: What other hobby would you like to develop? To student A) Student A: -Interlocutor: what would you like to develop? (To student B) Student B: Interlocutor: who is your favourite actor? (To student A) Student A: -Interlocutor: And yours? (To student B) Student B: II MINI PRESENTATION (1 min Preparation + 2 each min for both the students= 5 min) 1. Your school is planning to organize an adventure camp during summer vacations. The Secretary of the School Adventure Club has offered the following three choices. As a member of the club which place would you prefer? Give reasons for your choice. (Interlocutor gives different input card to both students. Four samples are given) ? ? ? Seven day swimming camp at lake Bhimtal Four day trekking camp at Pehalgam, Srinagar Five day river rafting camp at Rishikesh 35 | P a g e 2. Talk about a book you have read recently ? ? ? Why did you decided to read that book? How long did it take to finish the book? What genre of book it was? 3. Talk about your favourite news channel. ? ? ? 4. ? ? ? ? III How often you use this news source Why do you use this channel What other sources you use E-learning. Autonomous learning Adds variety Gives choices Clarifies concepts PAIR INTERACTION (3 mins) Students respond to visual/ verbal stimulus. Students look at the pictures and talk together for three minutes 1. Elderly –sad and lonely, neglected by their family members. Dependent on others for their physical needs. Money not adequate to meet the expenses of medicines. 36 | P a g e 2. E-revolution in India. Awareness in villages about computers. Government has brought out e-tablets which are cost-effective Energy Saving devices in new computers. Closing 37 | P a g e

Dividend Policy of Pakistans Oil Sector

Dividend Policy of Pakistans Oil Sector INTRODUCTION Corporate dividend policy is one of the most debated topics in corporate finance. Many researchers have devised theories and provided empirical evidence regarding the determinants of a firms dividend policy. The dividend policy issue, however, remains still unresolved as due to the fact that there are so many variables depending upon the type of company, its financial conditions, its industry etc that no single formula could be applicable. Clear guidelines for an optimal payout policy have not yet emerged despite the voluminous literature. We still do not have an acceptable explanation for the observed dividend behavior of companies. During the last fifty years several theoretical and empirical studies have been done leading to mainly three outcomes: The increase in dividend payout affects the market value of the firm. The decrease dividend payout adversely affects the market value of the firm. The dividend policy of the firm does not affect the firm value at all. However, we can say that empirical evidence on the determinants of dividend policy is unfortunately very complex. Basis on which corporations pay out dividends to the share holders is still an unresolved puzzle. First prominent study that appeared in the literature of finance regarding dividend policy was that of Miller and Modigliani (1961) where they state that there are no deception in a perfect and a rational economic environment. This was the starting point for other researchers to explore dividend payout policy phenomena. Almost all researches that followed referred back to Miller and Modigliani (1961). Various researches were carried out by many researchers to explore the determinants of dividend payout policy, some of them focused on profitability, some on size of the firms, some on growth rate of the firm while others on agency costs. For example researches carried out by Nissim et el (2001), Brook et el (1998), Bernheim et el (1995), Kao et el (1994), and Healy et el (1988) found out a positive association between increase in dividend payout and future profitability. Kalay et el (1986) and Asquith et el (1983) found out that stock returns is positively associated with dividend changes. Sasson et el (1976) conclude that the payout ratio is positive association with average rates of return. On the other hand, studies of Benartzi et el (1997) and DeAngelo et el (1996) find no support for the relationship between future profitability and dividend changes. On Other side most debated factor affecting dividend policy arguably is agency costs. Jensen (1986). Agency cost argument suggests that cost is reducing by dividend payments and cash flow Rozeff (1982). Researches carried out by Jensen et el (1992), and Lang et el (1989) supported this agency cost hypothesis, while others such as Lie (2000), Yoon et el (1995) and Denis et el (1994) found no support for this hypothesis. Size of the firm is another factor which seems to have an impact of dividend payout policy. Firms larger in size are considered to have more ability to payout dividends to its share holders. Lloyd et el (1985), and Vogt (1994) pointed that firm size plays a role in clarifying the dividend-payout ratio of firms. They argued that because larger firms are mature and have easy access to capital markets thus they are not really much dependant on internally generated funding which enables them to payout higher dividends. The purpose of this research is to investigate the dynamics and determinants of dividend policy of oil gas sector firms in Pakistan. The independent variables selected from the literature include: market capitalization, profitability and annual rate of growth of total assets. Analysis of these variables should reveal there exist an impact of these variables on dividend payout policy of the firms and very nature of the relationship. The remaining part of this thesis is organized as follows. In section 2 brief reviews of theories about the dividend will be presented. In section 3 this thesis discusses the data and possible variables that can act as proxy for different influences for analysis .In section 4 this thesis will establish the model. Section 5 will provide details of methodology used. In section 6 thesis will establish analysis and interpretations and section 7 will present results and draw a conclusion. CHAPTER II LITERATURE REVIEW There are various theories which provide insight on how a firm pays the dividends. 2.1 Miller and Modigliani theory According to Miller and Modigliani (of Merton Miller, Franco) (1961) dividend do not affect firms value in perfect market. Shareholders are not concerned to receiving their cash flows as dividend or in shape of capital gain, as far as firms doesnt change the investment policies. In this type of situation firms dividend payout ratio affect their residual free cash flows, when the free cash flow is positive firms decide to pay dividend and if negative firms decide to issue shares. They also conclude that change in dividend may be conveying the information to the market about firms future earnings. Example: Its a common believe that dividend policy is created by shareholder himself for example if a person has 10,000 PKR and wants income of 3,000 PKR a year from that portfolio, simply 3000 PKR money value can be sold by a person this amount as dividend income does not accept by him. This theory says, à ¢Ã¢â€š ¬Ã…“Who is anxious about dividends?à ¢Ã¢â€š ¬? MM explains that under certain assumptions including rational investors and a perfect capital market, the market value of a firm is independent of its dividend policy. Smirlock Marshall, (1983) stated that relationship between the Dividend and Investment Decisions indicates that no causality between the dividend and investment decisions of the firm. The fact that the firm-specific data conclusively supported the separation principle is particularly convincing. This is the first application of causality tests to a large sample of firms. 2.2 The bird in the hand theory Investors always prefer cash in hand rather then a future promise of capital gain due to minimizing risk Gordon (1963). Gordon believes that he is anxious about investing in dividends and dividend stocks. Gordon say that when he is paid hard cash by the company, he knows that the company is not just telling him that it is making money but the fact it that it is really making money . This is the idea that cash payment is valued by the investors in their hands over the hope of future profits. 2.3 The agency theory Traditionally, corporate dividend policy has been examined under the assumptions that the firm is one homogenous unit and that the managements objective is to maximize its value as a whole. The agency cost approach differs from the traditional approach mainly in this way that it explicitly recognizes the firm as a collection of groups of individuals with conflicting interests and self-seeking motives. According to the agency theory, these behavioral implications cause individuals to maximize their own utility instead of maximizing the firms wealth. The agency theory of Jensen and Meckling (1976) is based on the conflict between managers and shareholder and the percentage of equity controlled by sponsor ownership should influence the dividend policy. The theory focuses on the relationship between an agent of the principal (companys managers) and a principal (shareholder) . Jensen and Meckling (1976) in corporations, agency problem arise from external debt and external equity. Jensen and Meckling (1976) analyzed that how firm value is affected by the distribution of ownership between inside shareholders and outside shareholders who can consume perquisites, and who cannot. Within this framework, increased managerial ownership of equity alleviates agency difficulties by reducing incentives to consume perquisites and expropriate shareholder wealth. Jensen and Meckling (1976) argue that equity agency costs would be lower in firms with larger proportions of inside ownership. Managers are better understanding their interest with stockholders when they increase the shareholders ownership of the firm. Dividends are believed to play an important role in reducing conflicts between managers and stockholders. Any dividend policy should be designed to minimize the sum of capital, agency and taxation costs. According to Bathala (1990), in the agency costs and dividends, two lines of thought can be found explaining cross-sectional variations in payout ratios. First view Holds that a firms optimal payout ratio is the results of a trade-off between a reduction in the agency costs of external equity and an increase in the transaction costs related with external financing resulting from dividend payments as the payout ratio increases. Second view Argues that inside ownership and external debt are substitute mechanisms in mitigating agency costs in a firm. Basic study for the first line of thought is based on Rozeffs (1982) propositions. He suggests that dividend payout ratios may be explained by reduced agency costs when the firm increases its dividend payout and by increased more expensive external capital. Easterbrook (1984) gives further explanation regarding agency cost problem and says that there are two forms of agency costs; one is the cost monitoring and other is cost of risk aversion on the part of directors or managers. The agency theory is related with resolving two issues that can be held in an agency relationship. PROBLEMS: The desire of the principal and agent conflict and it is expensive or complicated for the principal that it cannot check that the agent has behaved appropriately. Risk sharing is a problem that occurs when the agent and principle have different behavior towards hazard. The issue here is that the principal and the agent may prefer separate actions because of the separate risk preferences. According to (Naceur, Goaied, Belanes, 2006) profitable firms with more stable earnings can pay larger dividend. Whenever they are growing very quick, dividend policy doesnt get any impact from financial leverage and ownership concentration. Also the liquidity of stock market and size negatively impacts the dividend payment. Oskar kowalewski and Ivan Stetsyukand Olesksandr Talavera (2007) study that how corporate governance determines dividend polices in Poland. They have established for the first time, quantitative measures on the quality of corporate governance for 110 non- financial listed companies. Their result suggested that large and more profitable companies have higher dividend payout ratio .Furthermore, risky and more indebted firms prefer to pay lower dividend s. The results finally, based on the period of 1998-2004, Reveals that dividend policy is quite important in the valuation process of companies, but the issues still remain scantily investigated in transition countries. A study on the determinant s of dividend policy and its association to corporate governance in a transition economy both offers an interesting subject and complements the existing corporate governance literature. The agency theory points that dividend may mitigate agency costs by distributing free cash flows that otherwise would be spent on unprofitable projects by the management. It is argued that dividends expose firms to more frequent analysis by the capital markets as dividend payout increase the likelihood that a firm has to issues new common stock. On the other hand, scrutiny by the market helps alleviate opportunistic management behavior, and thus, agency costs. Agency cost, in turn, is related to the strength of shareholders rights and they are associated with corporate governance. Furthermore, agency suggested that shareholders may prefer dividends, particularly when they fear expropriation by insider. They test the determinants of dividend policy in a multiple regression framework to control for firm specific characteristics other than governance. All the variables enter the regressions with expected signs. Size and return on assets are positively associated with variable cash divid end. Leverage is negatively associated with variable cash dividend. Their results provide evidence that in Poland listed companies where corporate governance practices are high and as a result shareholders rights are for strong payout higher dividend. Jianguo Chen and Nont Dhiensiri(2009) suggest that relationship between dividend pay-out ratio (POR) with the pro Cash flow variability (CFV), ownership dispersion, insider ownership, free cash flow, collateral stable assets, Past growth (GROW1), future growth (GROW2), stable dividend policy and imputation credit (IMP). They analyze the determinants of the corporate dividend policy using firms listed on New Zealand Stock Exchange .They examined that firms traditionally have high dividend pay-outs compared with companies in the US. They find that their is a negative relationship between dividend payout ratio and CFV, Insider, Beta ,growth and positive relationship between ownership dispersion ,free cash flow, collateral stable assets stable dividend policy and imputation credit. Their conclusion provides strong support to the agency cost theory and partially supports transaction cost and residual dividend theory. They do not have any evidence to support the dividend stability theory a nd the signaling theory. 2.4 Signaling theory The explanation about the signaling theory given by Bhattacharya (1979) and John, Kose and Williams (1985) dividends allay information symmetric between managers and shareholders by delivering inside information of firm future prospects. 2.5 Effect of tax preferences theory Miller and Scholars (1978) find that the effect of tax preferences on clientele and conclude different tax rates on dividends and capital gains lead to different clientele. Tax Preference theory Investor gave an important consideration to the taxes. This should by keep in mind that the dividends are taxed at a higher rate than the capital gains. As such, capital gains are preferred by the investors as compared to the dividends. This is known as when the investments are actually sold only then the capital gains are paid. When capital gains are realized inverses can control, but dividend payments are un controllable by them and the related company controls the dividend payment. In an estate situation, capital gains are not realized. For example: If a stock is purchased by an investor 50 years ago and is held by him until his or her death, when it is passed on to an heir after he is expired. Now that heir does not have to pay taxes on stocks appreciation. 2.6 Life Cycle Theory Life Cycle Theory and Fama and French (2001) states that the firms should follow a life cycle and reflect managements assessment of the importance of market imperfection and factors including taxes to equity holders, agency cost asymmetric information, floating cost and transaction costs. 2.7 Catering theory According to Baker and Wurgler (2004) in Catering theory suggest that the managers in order to give incentives to the investor according to their needs and wants and in this way cater the investors by paying smooth dividends when the investors by not pay when investors prefer non payers but put stock price premium on payers. 2.8 Lintners Model John Lintner (1956) initiates with his theory relies on two important things that he studied about dividend policy: 1) According to the amount of positive net-present-value (NPV) projects the companies tend to set long-run target dividends-to-earnings ratios. 2) Earnings increases are not always bearable. As a result, until managers can see that new earnings levels are bearable, dividend policy is not changed As regards the empirical literature the roots of the literature on determinants of dividend Policy is related to Lintner (1956) seminal work after this work the model is extended by The Samy ben naceur, Mohamed goaied and Amel belanesthe (2006) during the period (1996à ¢Ã¢â€š ¬Ã¢â‚¬Å"2002) on the Tunisian Stock Exchange listed study the dividend policy of 48 firms. Lintners model is applied using static and dynamic panel data regressions. They examined that Tunisian firms rely more on current earnings that past dividends to fix their dividend payments in the way that dividends tend to be more sensitive to current earnings rather than prior dividends. Any inconsistency in the level of dividends is directly reflected in the earnings of the corporation. Samy ben naceur, Mohamed Goaied and Amel belanesthe (2006) focused on the relationship between dividend and ownership, liquidity, return on assets (ROA), profitability, investment, leverage ratio, size. The results indicate that highly profitable firms with more stable earnings can afford larger free cash flows and thus pay out larger dividends. Moreover, fast-growing firms distribute larger dividends so as to demand to investors. On the other hand, ownership concentration does not have any impact on dividend payment. In fact, being closely held Tunisian firms witness less agency conflicts and shareholders do not resort to dividends in order to reduce managerial discretion and protect their interests. The liquidity of the stock market has a negative influence, which confirms that the implementation of the electronic transaction system in the TSE has facilitated the realization of capital gains, which has reduced the need for dividend payments. At last, the negative coefficient on siz e found in the full sample has disappeared when regulated firms are excluded, which reduces the strength of this factor. Researchers have proposed many different theories about the factors that affect a firms dividend policy. Kanwal Anil and Sujata Kapoor (2008) analyzed that The Determinants of Dividend Payout Ratio-A Study of Indian Information Technology Sector. The period under study is 2000-2006 as it is known that the period of 5 to 6 years covers both recession and booming of IT industry. They stated that profitability has always been considered as a primary indicator of dividend payout ratio. There are numerous other factors other than profitability also that affect dividend decisions of an organization namely cash flows, corporate tax, sales growth and market to book value ratio. They suggest that dividend payout ratio is positively related to profits, cash flows and it has inverse relationship with corporate taxes, sales growth and market to book value ratio. Statistical techniques of correlation and regression have been used to explore the relationship between key Variables. Thus, the main theme of this study is to recognize the various condition that effect the decision of dividend payout poli cy of IT firms in India. In short factors influencing the corporate dividend policy, according to them, may substantially vary from country to country because of inconsistency or variations in legal, tax and accounting policy between countries. In view of these facts, the present study aims at identifying the variables influencing corporate dividend policy in Pakistan. CHAPTER III DEPENDENT AND INDEPENDENT VARIABLES Objective of this study is to determine factors that have an impact on dividend of Oil Gas Exploration and Oil Gas Marketing sector of KSE. Dividend yield is dependent variable and the three independent variable are size, profitability and growth. These variables are discussed here. 3.1 Dividend yield (DY) Arthur A Thompson in his book Crafting and Executing Strategy says that the measure of the return that shareholder receives in the form of dividend is called dividend yield (DY). A typical dividend yield is 2 -3%, the dividend yield for fast growth companies in often below 1%(may be even 0) and the dividend yield for slow-growth companies can run 4-5%. Dividend yield can measure by annual dividend per share divided by current market price per share. Samy ben naceur et el(2006)The DY (dividend yield ) as our measure of the dependent variable equals to dividend per share to price per share, payout ratio cannot be used as a measure of dependent variable because sample contains firms with negative earnings. Khamis Al-Yahyaee et el (2006) and Hafeez et el (2009) also used dividend yield (DY) as the dependent variable. CHAPTER IV EXPLANATORY VARIABLES This thesis selected 3 variables used by different researchers Samy ben naceur et el (2006) and Hafeez et el (2009). 4.1 Firm Size Hafeez et el (2009) The firm size has been calculated as the total assets of the firm because a posiyive coefficient is expected from this variable as there is a very low chance of bankruptcy in large more diversified firms and it can sustain higher level of debt. Scott and martin (1975) found that the size of the firm is very important factor which can affect the firms dividend policy and debt policy. A negative impact has been found by market capitalization and size of the firms on dividend payout policy which clearly shows that the firms prefer to invest in their assets rather than pay dividends to its shareholders. The financial characteristic of size has been explained by Market capitalization and the size of the firm. According to the null hypothesis for this financial characteristic there is no relation between the market capitalization and size with dividend payout ratio but the results show that there is a inverse and significant relationship between dividend payout and MV.Hence null hypothesis is rejected. The evidence supported by the finding of Belans et al (2007), Jeong (2008) deviate from Avazian et al (2006). Samy ben naceur et el (2006) the size of the firm by total market value (LNSIZE) and it is expected to be positively correlated with dividend paid. The literature suggests that size may be inversely related to the probability of bankruptcy (Ferri and Jones 1979; Titman and Wessels 1988; Rajan and Zingales 1995). In particular, larger firms should have an easier access to external capital markets and can borrow on better terms, Moreover, larger firms tend to be more diversified and their cash flows are more regular and less volatile. Thus, larger firms should be more willing to pay out higher dividends. Even the conflicts between creditors and shareholders are more severe for smaller firms than the larger ones. Khamis Al-Yahyaee et el (2006) they measure size of the firm from Log of sales. Firms dividend policy is influenced by variables such as size. There is an advantageous position for larger firms to raise external funds in the capital markets and are less dependent of internal funds. Therefore there is a negative relationship between dependence on internal financing and the size of the firm. Moreover, there is a chance of lower bankruptcy probabilities in larger firms and thus they are able to pay more dividends. Thus as per this research the hypothesis is H1= Firm size is positively associated with dividend payouts. 4.2 Firm profitability Empirical research found that there is a positive relationship between dividend yield and profitability. The more profitable the firms are, the more internal financing they will have, and thus are able to afford larger dividends. Some of them are as follow. Khamis Al-Yahyaee et el (2006) measured profitability by earnings before interest and taxes to total assets as our surrogate for profitability. Hence a positive relationship between profitability and dividend is expected. Since the annual profits pay the dividends therefore its logical that more dividends are paid by profitable firms. Samy ben naceuret et el (2006) measure the profitability by the return on assets (ROA) net income/total assets and it is positively correlated with dividend payments. Firms with high profitability can afford larger free cash flows and hence new investment opportunities. Therefore, paying higher dividends does not disturb them. In the same vein and according to the pecking order theory, firms prefer using internal sources of financing first, then debt and finally external equity obtained by stock issues. The more profitable the firms are, the more internal financing they will have, and thus are able to afford larger dividends. Hafeez et el (2009) measured Profitability Net Earnings and Earning Per Share after tax. The net earnings show the positive relationship with the dividend yield. The net earnings after interest, depreciation and after tax have been used as the explanatory variable to examine the role of earnings to pay dividends. Thus as per this research the hypothesis is H2= There is a positive relationship between a firms profitability and dividend payouts. 4.3 Firm Growth Samy ben naceur et el (2006) measure investment and growth by MBV (market value of equity/ book value of equity) and annual rate of growth of total assets. Firms anticipate higher growth, when they establish lower dividend payout ratio because growth entails higher investment expenditures. When firms retain higher proportion of earning to finance future investment need due to high cost of external financing, their dividend pay out in anticipation of future growth stands reduced. Hence, a negative relationship between dividend payout and expected growth is expected. Khamis Al-Yahyaee et el (2006) measure the growth opportunities through market-to-book ratio. A negative relationship is expected between growth opportunities and dividend. Large additions of capital are required by the firms experiencing substantial success and rapid growth. Consequently, lower dividend payout policies are expected by growth firms. Similarly, the pecking order theory predicts that more earnings are retained by the firms having a high proportion of market value followed by growth opportunities hence they are able to minimize the need to raise new equity capital. Free cash flow theory also predicts that their will be a lower free cash flow and lower dividend is paid by the firms with high growth opportunities. On the other hand Hafeez et el (2009) argued with the above researcher. According to the signaling theory the higher the firm grows, the higher they pay dividends to shareholders. The shareholders get signals from the growth of the firms having high growth opportunity. The sales growth has been used as proxy of Growth in the empirical analysis of the study and has been used as percent age change in sales annually as proxy of the growth. Whereas Kanwal Anil et el (2008), measured growth and investment by sales growth and MTBV. Hafeez Ahmed et el (2009) measures investment as SLACK = accumulated retained earnings/ total asset. Thus as per this research the hypothesis is H3= Firm growth is negatively associated with dividend payouts. Table 1 Summary of Proxy Variables and Research Hypotheses H1: Size MCAP = market capitalization Positive H2: Profitability ROA= net income/total assets Positive H3: Growth GROWTH = sales growth Negative CHAPTER V METHODOLOGY DATA COLLECTION METHOD The data is collected from Securities Exchange Commission of Pakistan, State Bank of Pakistan and the Karachi Stock Exchange. The variables of the study are calculated from the Audited Annual Accounts of 6 firms for the period of 2001 to 2008 resulting in about 240 observations for each variable and as such it is a long period enough to smooth out variable fluctuations. (Rozeff, 1982) SAMPLE Sample Size consists of six companies from oil and gas exploration and marketing sectors in Pakistan, listed on Karachi Stock Exchange (KSE) Total of six companies listed on Karachi Stock Exchange (KSE). Data collected from year 2001 to year 2008. STATISTICAL TEST Linear Regression test was performed to analyze data. Dividend yield is a dependent variable and growth, size and profitability are taken as independent variable. REGRESSION MODEL This study uses multiple regression analysis. This thesis estimate that Y= X0 + X1 + X2 + X3 + e Y = Dividend yield. X0 = Intercept of the equation. X1 = Firm size. X2 = Firm profitability. X3 = Firm sale growth. e = Error Term. CHAPTER VI DATA ANALYSIS AND INTERPRETATION Table 2 MODEL R SQUARE F Sig. 1 .223 3.917 .015(a) Table 2 above shows F Ratio for the regression model is significant which indicates that regression model is a best fit. Total variation in the dependent variable explained by the regression model as indicated by R square is .223 i.e. 22.3% change in dividend yield is explained by these three independent variables. Table3 UNSTANDARDIZED COEFFICIENT STANDARDISECOEFFICIENT t Sig. B Std. Error Beta (Constant) 0.066 0.011    5.826 0 Size -1.10E-06 0 -0.503 -2.879 0.006* Profitability 0.16 0.094 0.269 1.709 0.095** Sale growth 2.17E-07 0 0.484 3.038 0.004* *Significant at 1% **Significant at 10% Table 3 reports the ordinary least square results of the regression analysis. Results indicate that size of the firm is significant as shown in table 3 and shows that size is negatively correlated with dividend at 1% .As researcher taken in its own hypothesis that the size will present positive relation but its coefficient is negative which rejects researcher hypothesis. Since the size is also statistically significant but the hypothesis for this thesis shows that the growth is negatively related to dividend hence this hypothesis rejected. Some researcher result find out size as positive. Fama and French (2000 and 2001) concluded that more dividends are payable by large and more profitable firms. Lloyd and Jahera (1995 cited on holder 1998) concluded that those larger firms have easier access to capital markets which are more mature hence allowing for higher dividend pay-out ratios and reducing their dependence on internally generated funding. Aneel Kanwer (2002) measured size with total sale and researcher find out that size is positive related to dividend yields. Smaller company gives lower dividend as compared to larger company. Oskar kowalewki et el (2007) made a research in Poland and they measured size with total assets .they find out that size is positively related to dividends because more dividends are paid by companies which are larger in asset and size.. Some researcher result find out size as negative .The result of the research by Hafeez Ahmed et el (2009) on KSE (non financial firms) is similar to this thesis result. they measure size with natural logarithm of total assets This results indicates that the size of the firms have the negative impact on dividend payout policy which shows that the firms prefer to invest in their assets rather than pay dividends to their shareholders .. Samy Bin Naem et el (2006) made their research on the firms of the Tunisian Stock Market and They measured the size with logarithm of stock market capitalization. They concluded that there is a negative relationship between size and dividend, but the negative relationship disappeared when regulated firms are removed. Since the result of the researcher Fama and French (2000 and 2001) , Lloyd and