Hip-hop scholarly notes Case Study Example | Topics and Well Written Essays - 500 words

Hip-hop scholarly notes - Case Study Example ssay I will try to find out if sexism has anything to do with hip hop at all, analyze what things hip hop artists tend to accentuate in their lyrics and, finally, touch upon the issues of responsibility of hip hop artists for what they do. There is no doubt that sexism, which is typically more of a discrimination against women, is degrading. Unfortunately, there is ample evidence that sexist ideas are being exploited by hip hop artists to a certain extent. The harsh truth is that hip hop is mainly focused on sexist ideas because it sells well. And this, in turn, involves another issue, namely, the things that mainstream culture tolerates and things it rejects. The question is whether disruptive content is a problem of hip hop per se or simply a part of a highly commercialized music industry that is willing to accept things that may demean women, for instance (Rose 122). On the other hand, one may assume that honest narrative of hip hop lyrics, which may turn to sexist motifs from time to time, is actually about freedom of expression that allows reflecting a real state of things within our society. In fact, hip hop relies heavily on sexism as one of its topics. Yet at the same time, it might as well help young people f ocus on the problem and realize how to deal with it in reality. According to Rose, it is much easier to fight sexist ideas in hip hop than tackling sexist culture as a whole (150). In order to solve a problem one needs to identify it first, and hip hop serves this educative function pretty well. Obviously, hip hop is rather a consequence than a source of the problem here. Hip hop is, probably, the only popular music genre where autobiographical nature of lyrics prevails and is valued for (137). In their lyrics hip hop artists try to touch upon things they have been through themselves; in fact, hip hop is often perceived as an opportunity to speak up about the aspects of urban life that other music genres traditionally pay little attention to or none

Rebuttal Argument about Amusing Ourselves to Death by Neil Postman Essay

Rebuttal Argument about Amusing Ourselves to Death by Neil Postman - Essay Example These biases are unseen, but they program the human mind to respond in specific ways towards experiences in the world. Orate cultures formed the foremost presentation techniques in the globe. Antique philosophers capitalized on this technique in their presentation. Socrates was a major philosopher who used this communication technique in his diverse encounters. For instance, he used this technique for his court proceedings after his arrest (Postman, 1985). During the antique times, oral presentations were regarded more credible than the ones in writing. Audiences would invest much belief to orally presented ideas than the written ones. This was an evident trend in the antique legal institutions. The court of law during these times would majorly capitalize on the orally presented evidence. They would also adopt laws presented orally. Therefore, oral presentation of laws was the main and recommended technique communication in courts. Jurors would exclusively receive training and evidence with the oral nature (Schubert, 2005). Orate presentations were paramount techniques of communication, since they h ad outstanding merits. For instance, they propagate a firsthand encounter of information or evidence. According to Postman, rhetoric techniques in oral presentations deprived the credibility and truthfulness of the presentation (Postman, 1985). However, some rhetorical techniques are majorly instrumental to the presentation of truth. Thus, Postman’s implication is invalid in this case. Rhetoric techniques reinforce emphasis that substantiates truth. Therefore, some rhetoric features like questions are paramount to emphasize truth. It is not necessarily that the rhetoric features hinder truth. Print techniques were subsequently enhanced after orate techniques (Schubert, 2005). During the era of their inception, the levels of literacy had taken an elevating trend in society. Research institutions were taking

Effects of the 8th Amendment on American Law Essay Example for Free

Effects of the 8th Amendment on American Law Essay The Eighth Amendment Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted.Ever since the Eighth Amendment was ratified by the states in 1791, it has been a key part of our Constitution. The Eighth Amendment has protected our people from many things, including an overly high bail or unnatural punishments. It has ensured that in civil matters, as well as criminal cases, the people of America are protected from an overly high bail and cruel and unusual punishments. The Eighth Amendment has stirred up many controversies with its many paths of interpretation, in that the U.S. amendments are written down on paper but sometimes not properly enforced. The 8th amendment is the one I favor least and is to be examined during this assignment. I take the double-minded position on the subject of the 8th Amendment of for and against this amendment. Is the Death Penalty an Effective Punishment? In my opinion yes, with at least one important respect, it simply cannot be argued that a killer, once executed, can ever kill again. The crime must fit the punishment in order to justify, and this punishment must not favor anyone on the foundation of color. If this were the case I would without a doubt totally agree with this amendment, however, Studies show that there are racial biases when the death penalty is carried out. Since the resumption of executions in the early 1980s, 40 percent of those executed have been black. And more often than not blacks were more often executed than were whites without having their conviction reviewed by any higher court. The race of the victim and the defendant inevitably influences the decision to seek a death sentence. University of Iowa law professor David Baldus conducted an exhaustive criminal sentencing study in Georgia in the 1980s. He found that prosecutors sought the death penalty for 70% of black defendants with white victims, but only 15% of black defendants with black victims. Similar patterns of racial bias are found across the country. Over half of those on death row are people of color. Black men alone make up over 42% of all death row prisoners, though they account for only 6% of people living in the U.S. Nationwide, cases involving a white victim and a defendant of color are most likely to result in a death sentence. The Baldus study found that six out of ten defendants sentenced to death in Georgia for  killing a white person would not have received a death sentence had their victim been black. A case involving a white person was over four times more likely to result in a death sentence than was a comparable black victim case. In Maryland the state with one of the highest percentages of African Americans on death row a death sentence is eight times more likely in a white victim case than a black victim case, according to a 1987 Public Defenders Office study. Nearly half of those executed since 1976 have been people of color, with blacks alone accounting for 35%. All told, 82% have been put to death for the murder of a white person. Only 1.8% was whites who had been convicted of killing people of African, Asian, or Latin descent. Meanwhile, people of color are the victims in more than half of all homicides. Since 1930, one in two persons executed was black. Ultimately I must stand on the side of opposition with this Amendment on the basis of bias and suggest a moratorium until a clear version of this amendment is established with clear mandatory sentences regardless of the victim or the defendants ethnicity and does what it initially intended to do which is protect The American citizen without breaking other amendments in the process. Criminal court procedures are at an all time slow and speedy trials are a thing of the past. The government spending and income policies need to be modified to modern times. Also the treason penalty should be more heinous in the new world.ins an important part of our government. Works Cited Shortall, Joseph M.; Merrill, Denise W. Education Information Resource Center City: Publisher N/A, 1987. McCLESKEY v. KEMP- 481 U.S. 27 [Ty caselaw.lp.findlaw.com/scripts/getcase. caselaw.lp.findlaw.com/scripts/getcase.pl?court=usvol=481invol=279www.law.uiowa.edu/faculty/david-baldus.php

Essay --

This paper with address the major themes, which run throughout The Holy Bible. There are too many themes throughout the Bible to list so this author will address only three major themes that are see in God’s Holy Word. The first theme is Jesus; the beginning and the end, the Alpha and Omega. Colossians 1:17 from the New Living Translation says it best: He existed before anything else, and he holds all creation together. Christ is also the head of the church, which is His body. He is the beginning, supreme over all who rise from the dead. So He is first in everything. For God in all His fullness was pleased to live in Christ, and through Him God reconciled everything to himself. He made peace with everything in heaven and on earth by means of Christ’s blood on the cross. The second theme that is seen in the Bible is love. The Bible says in 1 John 4:8 that God is Love; But anyone who does not love does not know God, for God is love. We see this in the greatest commandment. The last theme, which is clearly seen in nearly every book of the Bible, is the theme of salvation and/or redemption. God the Father is not only seen saving those who call on His name from certain death in the Old Testament, but also in the New Testament. In theology redemption and salvation are one in the same. â€Å"Theology is the deliverance from the power and penalty of sin; redemption† (Dictionarry.com, 2013). Jesus The first theme is Jesus. We see the prophecies of Jesus’ first and second coming in the Old Testament and then we see in the New Testament the life and teachings of the Son of God. â€Å"Then he said, ‘When I was with you before, I told you that everything written about me in the Law of Moses and the prophets and in the Psalms must be fulfilled’† (Luke ... ...st through the reading of God’s Word start to understand out to look through the lens of God for our lives and others. This shows us we are in need of a relationship and not a religion. The Bible teaches us and shows us we need not to get cleaned up to come to Jesus, but come to Jesus and the Cross to get cleaned up. His arms are always wide open. C.S. Lewis once said, â€Å"The Christian does not think God will love us because we are good, but that God will make us good because He loves us† (Patheos.com, 2013). â€Å"‘This is basically what C.S. Lewis was saying. God made us good only through the atoning work of Calvary. We became righteous because of His love that was most vividly displayed on the cross as John wrote, ‘In this is love, not that we loved God but that he loved us and sent his Son to be the atoning sacrifice for our sins’† (1 John 4:10) (Patheos.com, 2013).

Evaluate the effectiveness of speech, language and communicate Essay

Explain each of the terms: speech, language, communication, speech , language and communication needs. Speech , language and communication are closely tied to other areas of development, this learning outcome requires you to understand and be able to explain links between speech and development and the likely impact of any difficulties that children may have in acquiring speech, communication and language. Some children may not be able to understand the words being spoken to them and/or the grammatical rules of sentence construction. Therefore, when their teacher tells the class what they need to do, or explains a new idea or concept,9 they may struggle to understand what is being said. Having inappropriate vocabulary is essential for the learning process, however learning vocabulary has been identified as one of the most significant difficulties for some children with SLCN,10 11 leading to much of their teacher’s talk being inaccessible. The ability and confidence to ask questions is a vital skill for provoking and shaping new thinking.12 The Primary Strategy recognizes the importance of language for thinking and encourages paired talk and discussion among pupils as a way to enhance learning.13 This is hugely difficult for children with SLCN, so vital learning and opportunities to talk with peers can be missed. They may struggle with developing an age appropriate vocabulary, formulating sentences, using the right words in the right order and with following grammatical rule to understand or make it clear to others what has happened in space and time. Communication Communication is about the way that people send signals to one another. Communication can be seen as an umbrella term because it encompasses both language and speech and also includes facial expression, gesture and body  language. Language Language is something very specific, it is a set of symbols-spoken, written or signed- that can be used and understood between people. Language can be quite abstract and we often forget this. a child has to learn that when the sounds of c-a-t are made, the speaker is referring to a cat even if there is not one in the room. Linguistsd also suggest that the main feature of language is a series of rules that users have to understand and use, but once mastered allow a user to convey anything they wish. At first children cannot use the rules. Toddlers begin by just pointing at objects and saying one word, but after a while they learn how to construct sentences. Speech Speech is essentially vocalized language. It is usually learnt before the written form of the language, in speech, the symbols are not written of signed, but spoken as sounds. The number of sounds that children need to master will depend on the language that they are bing exposed. English has over 40 different sounds or phonemes. Listening Listening is about being able to hear and more importantly understand the speech of others. It is sometimes referred to as ‘receptive speech.’ Babies begin the journey of learning to speak by gaining some ‘receptive speech’ and learning what specific words and phrases mean. Speech, language and communication needs This term is used to refer to any difficulty that a child has in any of the three areas; for example a child might have difficulty in producing certain sounds and so have a difficulty with speech, while a child who does not make eye contact or enjoy being with others may have a more global communication needs. 1.2  Explain how speech, language and communication skills support each of the following areas in children’s development. Learning, emotional, behavior, social. Being able to communicate and, better still, being able to use and understand speech- opens doors in terms of children’s overall development. Learning There are many debates as to what is ‘learning’ but for our purpose we will limit this to children’s overall cognition. The term condition covers a multitude of different tasks, but is mainly about out ability to process and use information that we have gained. For example, A child might see that leaves are falling off tress and get told that this is because it is autumn. The child might then see more leaves falling off a tree. She may remember and make a connection between what she saw earlier on and what she is seeing now. The work autumn may also remember and so she might point and say proudly to the adult with her. ‘ Look those leaves are falling too! Is that because its autumn?’ Later on in that day while having tea, she may tell her mother that in the park leaves are falling off the trees because it is autumn. This example illustrates the way in which for learning to take place, the child has to remember what they have seen earlier, make connections to what they are now seeing or hearing and then come to some conclusion. The ability of the child to ‘label’ it as autumn will help her enormously and she is likely from this point on to notice falling leaves and make the association  over and over again. She can also talk and think about ‘ autumn’ without needing to be in the park. At this point we can begin to understand the limitations of body language, facial expression and gesture when language is not available. Although they allow for instant communication they cannot help a child to understand what is being seen or provide a way in which afterwards the child can communicate what she has seen. This means that children who only have the basic communication skills of body language, gesture and facial expression find it difficult to communicate concepts Emotional development Being able to control your own emotional is a major part of emotional development. Babies and toddlers struggle with his, but as language develops they find it easier because they can express their needs. Tantrums and other outbursts linked to frustration, jealousy or anger tent to diminish as children find ways of talking through how they are feeling. This is one reason why it is thought good practice to ‘name’ emotions when working with young children, so that they begin to understand what they are feeling and have ways of expressing it other than through physical reactions alone. Behavior Being able to manage your own behavior is about self-control. Young children are very impulsive and find it hard to control their behavior but, once language is mastered, children’s behavior changes. It would seem that the acquisition of language helps children to think things over. They focus more on the consequences of their actions and they also internally begin to remind themselves of what they need to do or what they should not do. Interestingly, the start of this process can be observed when a toddler goes up to something that they have been told not to touch, points to it and says ‘no’. Social development Emotional development is linked to being able to control your own emotions and social development builds on this, as it is about being able to recognize emotions in others and learning to adjust your behavior accordingly. It also about understands what the social codes are in any situation and behaving appropriately. This means that good communication and language skills are important. Children need to read the faces and body language of others and respond appropriately. Because play is the main medium of socialization with other children, language skills also become important from around the age of 3 years, as children tent to use speech to talk about what they are doing or, as they get older. Describe the potential impact of speech, language and communication difficulties on the overall development of a child, both currently and in the longer term. Young people with speech, language and communication needs have poor conversational kills, poor non-verbal skills and poor social perception, all of which can hinder their ability to form friendships with their peers and may lead to them becoming marginalized. Those who become isolated in this way often experience anxiety and depression, which can affect their mental health. These problems can become exacerbated with age if they remain unidentified and untreated, and are likely to result in poorer outcomes for the individuals concerned. Speech, language and communication difficulties can erode self-esteem and affect educational achievement, social integration and general behavior. In addition, they increase the probability of offending behavior and early disengagement from school (children with these problems are much less likely to continue in education beyond 16 years of age). Children have difficulties, there are likely to be many effects on their  development, although the extent to which children are affected will very much depend on the nature of their difficulty, its severity and how the child is supported. Short-term effects on development Frustration Anger Withdrawal Low levels of confidence Difficulties in making friends Difficulties in learning new information Difficulties in applying information to new situations Find it hard to make themselves understood The longer term developable consequences in children who have difficulties with their communication, speech and language are in some ways harder to predict but again, in general terms, we may find that children later on have: Lower self-esteem Not achieved their potential Found it hard to make and maintain relationships Become isolated Not reached independence Developed antisocial behavior in some cases. Explain the ways in which adults can effectively support and extend the speech, language and communication development of children during the early years. There are many ways in which adults can effectively support and extend speech, language and communication development in children during early years, Firstly, it is important for the adult to adapt language according to the child’s needs and abilities, some children who have English as a second language may require the adult to point to objects. For example when speaking to a baby or toddler they would simplify the sentences for them to understand where as the older the child gets the more hard sentences can begin to be used. For example to a 1 year old you may hold out a biscuit and say the word where as an older child you would say would you like a biscuit. Secondly; giving children the time and opportunity to communicate, it’s important to give children time to think about what has been said to them and if they don’t answer straight away and not answering for them, allowing them time to respond. Some children would require you to sound them all out but then you must get them to copy you and blend the sounds together whilst giving them time to process what you are telling them. Explain the relevant positive effects of adult support for the children and their careers. Positive adult support: Emotional development Speech, language and communication skills Social interaction Behavior Speech, language and communication skills Very quickly, if high-quality support is given, children can show progress in their speech, language and communication skills. This means that working with children can be very rewarding and parents often delight in the improvement that their children are showing. Social interaction At the heart of social interaction is children’s ability to communicate. This means that positive support can quickly make children more outgoing and also confident in their interactions. Many practitioners report that once children have more speech and language, they are able to play more easily with other children. Behavior Many children who are finding it difficult to communicate and speak will show aggressive, uncooperative and frustrated behavior. Being able to communicate effectively can make an enormous difference to children’s behavior. Parents also note that when they are spending more time communicating with their children, their children show less attention-seeking behavior. Emotional development Positive adult support also helps children’s emotional development. Not only do children become more confident, they also find through works ways of controlling their emotions and expressing their needs. Explain how levels of speech and language development vary between children entering early years provision and need to be taken into account during setting in and planning. Children of the same age will often have different levels of language. This clearly means that we need to identify children whose language is atypical in order that they can gain additional support, but we also need to think about how our practices and procedures support children. For children who do not have spoken language, either because of their age or because of an additional need. It is essential that time is taken for them to get to know their key person before any separation takes place. The key person also needs to find out from the child’s parents how they communicate  with the child and to learn these skills. Children who are speaking well and can understand us still need a similar level of care and attention, but they may find it easier to settle in as they can articulate their feelings. Grouping children Many group care settings will have moments when children are put into groups at lunchtime or for a story. It is important that thought is given to ensuring that children who have language needs are grouped sensitively and carefully so they have the opportunity to interact and be involved. Activities When activities and play opportunities are planned, children’s level of language needs to be considered. Certain activities require a high level of language and so may not be appropriate for a child whose language is still developing, for example ’20 questions’ or ‘I spy’. Language is also needed for role play and so it is important to think about whether children who want to join in role play need support. The ability to process language also means some activities which require children to listen need to be carefully thought about, particularly it there are no visual stimuli which will help children to work out the meaning.

9 Animals That Ate Dinosaurs

Overview Of The Indian Commodity Market Finance Essay - Free Essay Example

Sample details Pages: 12 Words: 3703 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? In India market for futures are from a very long time back , it was there in early 1800s. After Independence, the Forward Contracts (Regulation) Act, 1952 (FCRA, 1952) was passed to promote and regulate this market with Forward Markets Commission (FMC) being set up in 1953 in Mumbai as the regulator. Commodity derivatives were banned in the late 60s, but were revived again in the 80s.After the successful equity market reforms of the 90s, the Government of India tried to replicate similar reforms for the commodity derivatives markets and in 1999 suggested that the Minimum Support Price (MSP)as a price-hedging instrument could be replaced with derivatives markets. Don’t waste time! Our writers will create an original "Overview Of The Indian Commodity Market Finance Essay" essay for you Create order National-level multi-commodity exchanges were permitted to be set up on conditions of being backed by internationally prevailing best practices of trading, clearing and settlement. The national commodity exchanges follow electronic, transparent trading and clearing with novation, similar to the equity market [See Box 2]. At present, 105 commodities have been approved for trading out of which 95 commodities are actively traded. The development of the commodity derivatives market in India like many other countries has been hindered by policy reversals on concerns regarding its effect on prices and supplies of essential commodities. This apart, integration of spot and futures market is cited as a critical factor for further growth of commodity futures in India. According to Nair (2004), the major stumbling block for the development of commodity futures markets in India is the fragmented physical/spot market with government laws and various taxes that hinder the free movement of commodit ies critique draws attention to the prevalence of bilateral deals in local exchanges, the lack of price transparency both in the (fragmented) futures and spot markets for many commodities and the absence of certified warehouses. At present 22 Exchanges are recognised/registered for forward/futures trading in commodities. Most of the commodity exchanges in India are single commodity platforms and cater mainly to the regional requirements. However, three national-level multi-commodity exchanges have been set up in the country to overcome the problem of fragmentation. These exchanges are: 1. National Multi Commodity Exchange of India (NMCE) 2. Multi Commodity Exchange of India (MCX) 3. National Commodity Derivatives Exchange of India (NCDEX) NMCE (National Multi Commodity Exchange of India) It is the first state of the demutualized multi-commodity Exchange, National Multi Commodity Exchange of India Ltd. (NMCE) was promoted by commodity-relevant public institutions, viz., Central Warehousing Corporation (CWC), National Agricultural Cooperative Marketing Federation of India (NAFED), Gujarat Agro-Industries Corporation Limited (GAICL), Gujarat State Agricultural Marketing Board (GSAMB), National Institute of Agricultural Marketing (NIAM), and Neptune Overseas Limited (NOL). While various integral aspects of commodity economy, viz., warehousing, cooperatives, private and public sector marketing of agricultural commodities, research and training were adequately addressed in structuring the Exchange, finance was still a vital missing link. Punjab National Bank (PNB) took equity of the Exchange to establish that linkage. Even today, NMCE is the only Exchange in India to have such investment and technical support from the comm odity relevant institutions. These institutions are represented on the Board of Directors of the Exchange and also on various committees set up by the Exchange to ensure good corporate governance.. NMCE commenced futures trading in 24 commodities on 26th November, 2002 on a national scale and the basket of commodities has grown substantially since then to include cash crops, food grains, plantations, spices, oil seeds, metals bullion among others.. MCX( Multi Commodity Exchange of India ) :- Headquartered in Mumbai, Multi Commodity Exchange of India Ltd (MCX) is a state-of-the-art electronic commodity futures exchange. The demutualised Exchange has permanent recognition from the Government of India to facilitate online trading, and clearing and settlement operations for commodity futures across the country. Having started operations in November 2003, today, MCX holds a market share of over 85%* (as on March 31, 2012 MCX had a market share of 86%) of the Indian commodity futures market. The Exchange has more than 2,170 registered members operating through over 3,46,000 including CTCL trading terminals spread over 1,577 cities and towns across India. MCX was the third largest commodity futures exchange in the world, in terms of the number of contracts traded in CY2011 4.2 PURPOSE OF THE STUDY In India, as derivatives only futures trading in commodities is allowed. These trading are delineated into agriculture and non agriculture commodities. There has to be a systematic approach to reap benefits from commodity futures. These markets are driven by news, rumors, data release aspects and many more .These all things sometimes results in market volatility so assessing the risk mitigation possibility through use of futures is necessary and also the use of other derivative instruments like options. These complicated aspects make the research desk inevitable in brokerage firm. Hence the study is useful to understand the future market trends , analyze the hedging effectiveness of commodity futures and the need of options in commodity market. 4.3 SIGNIFICANCE OF THE STUDY To get to know the hedging effectiveness of the futures as it is many times talked that the futures increases speculative trading rather than hedging tool and to find out wheather price discovery mechanism is there and how efficient is it in hedging price risk, It also covers the need of commodity option in the market and its use as an hedging tool. 4.4 LIMITATION OF STUDY The study is limited to Kolkata and Bangalore brokerage houses only. Limited number of respondents i.e.50 as it was not easy to get data from the corporate. Time constraint was a major limitation. Not covered the industrialist and farmers who trade in commodity market to hedge the production risk.. 5.1 INTRODUCTION This part of the research paper shows the detailed analysis and related interpretation of the collected data in a detailed manner . This analysis and interpretation is based on the research methodology mentioned in Chapter 3 and the micro analysis of the Indian commodity market .In this Chapter initially the analysis of the respondents is done and then it moves on to analyse the the primary data and further to conclude a secondary research is also done from the data sources as earlier mentioned in Chapter 3. 5.2 RESPONDENTS PROFILE The number of respondents taken in for this research is 50. Basically the respondents are those people who trade in commodity market. Majority of respondents are from Kolkata and Bangalore, respondents are from all the age groups . Out of 50 , 20% of respondents are professional people like Chartered Accountants, Company Secretary, and MBA who trade in commodity and other financial instruments and rest are the people who trade in commodity market, respondents also includes the people orking in for brokerage houses who deals in commodity. 5.3 ANALYSIS OF DATA The analysis is done on both primary data and Secondary Data. Exchange in which respondents trade. Chart 5.1: Preference for Commodity Exchange Source: Primary Data 60% of the respondents prefer MCX as the commodity exchange for their investment, whereas NCDEX is preferred by 29% of the sample, and rest of the respondents prefer options other than MCX and NCDEX. Preference for the type of Commodity among Investors. Chart 5.2 : Type of Commodity trade Source: Primary Data Bullion, Metals, Agricultural Products are the most preferred commodity types by 49%, 18%, and 33% of the respondents respectively. Opinion about Indian Market Commodity market volatility. Chart 5.3 : Opinion about Indian commodity market volatility 48% of the respondents are of the opinion that Commodity Market in India is highly volatile, and 43% percentage of respondents feel that the volatility of the Indian Commodity Market is moderate, whereas it is thought to be low volatile by 9% of the respondents. Level of participation in commodity market. Chart 5.4: Level of participation in commodity market Most of the respondents are very active at trading in Commodity Market, whereas 31 % of the respondents are found to be less active in the Commodity Market. 5.3.4 Relationship between Mitigation of risk and level of participation by an investor Table 5.1 :- Cross tabulation of level of investement participation and mitigation of risk. How_Active * Mittigation of risk Crosstabulation Count Mittigation of risk Total Least Priority Less Priority Neutral High Priority Highest Priority How_Active Very Active 1 1 0 4 10 16 Moderate 1 4 8 3 5 21 Less Active 2 2 7 2 1 14 Total 4 7 15 9 16 51 Chart 5.5: Cross tabulation of level of investment participation and mitigation of risk Interpretation: Cross tabulation analysis shows that activeness of a trader in a market have a important role in taking up mitigation of risk. Active trader gives highest priority to Mitigation of risk on the other hand moderate and less active traders are not motivated towards risk mitigation. 5.3.5 Cross tabulation Relationship between investors level of participation and Pure investment Purpose Table 5.2 : Cross tabulation relationship between investement level of participation and investement purpose How_Active * Pure_Investement_Purpose Crosstabulation Count Pure_Investement_Purpose Total Least Priority Less Priority Neutral High Priority Highest Priority How_Active Very Active 3 3 6 3 1 16 Moderate 3 5 5 5 3 21 Less Active 1 2 1 3 7 14 Total 7 10 12 11 11 51 Chart 5.6: Cross tabulation relationship between investement level of participation and investement purpose Interpretation :- Through this cross tabulation we get to know that investors who are less active they make investement in futures with pure investement purpose . On the other hand very active and moderate investors are more neutral towards pure investement purpose. Factor analysis : Factors taken into account are Risk mitigation, Parking of excess cash , Pure investement purpose and To offset price volatility. Table 5.3 : Factor analysis of Risk mitigation, Parking of excess cash , Pure investement purpose KMO and Bartletts Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .615 Bartletts Test of Sphericity Approx. Chi-Square 14.924 Df 6 Sig. .41 Interpretation :-Kaiser Meyer Olkin Values range between 0 and 1. A value near to 1 indicates a high correlation and suggests that the data is reliable whereas a value near 0 indicates that correlation is less than partial correlation. KMO value should be greater than 0.5, otherwise we need to collect more data or some of the factors should be eliminated. There are Four categories of value on the basis of KMO value. (0.5-0.7 is mediocre, 0.7-0.8 is good, 0.8-0.9 is great, greater than 0.9 is superb) In this case, the KMO value is .615, so the data falls in the category of mediocre. It means that the data are fair enough to carry on the factor analysis. Further, there should be some relationship between the variables, if we need to carry out Factor analysis. So the significance value should be less than 0.5. In this case the sig value is 0.04 which shows that the data are related to each other, so we can carry out Factor Analysis Communalities Initial Extraction Mittigation of risk 1.000 .432 Pure_Investement_Purpose 1.000 .687 Parking_Excess_Cash 1.000 .774 To_offset price volatility 1.000 .710 Extraction Method: Principal Component Analysis. In this case we assume that the initial variance is common, so the communalities initially are 1.But in the extraction column, the variance has changed for every factor. For Example, variance of .710 signifies that variable 1 is 71% common to variance of other factor Component Matrixa Component 1 2 Mittigation of risk .187 .630 Pure_Investement_Purpose .818 .135 Parking_Excess_Cash -.863 .170 To_offset price volatility .098 -.837 Extraction Method: Principal Component Analysis. a. 2 components extracted. Testing of Hypothesis 5.4.1 Regression Analysis On the primary data collected for determining the impact of various independent variables like Easy money, Speculators , Demand ,Supply, Expiry date on dependent variable i.e. price. Table 5.4 : Regression analysis of independent variables like Easy money, Speculators Demand ,Supply, Expiry date on dependent variable i.e. price. Variables Entered/Removed Model Variables Entered Variables Removed Method 1 Easy Money, Speculators, Demand, Supply, Expiry_Datea . Enter a. All requested variables entered. Model Summary Model R R Square Adjusted R Square Std. Error of the Estimate 1 .761a .679 .531 .74737 a. Predictors: (Constant), Easy_Money, Speculators, Demand, Supply, Expiry_Date ANOVAb Model Sum of Squares df Mean Square F Sig. 1 Regression 33.743 5 6.749 12.082 .000a Residual 24.577 44 .559 Total 58.320 49 a. Predictors: (Constant), Easy_Money, Speculators, Demand, Supply, Expiry_Date b. Dependent Variable: Price Coefficientsa Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) -.980 .791 -1.238 .222 Demand .511 .122 .436 4.202 .000 Speculators .487 .100 .496 4.872 .000 Supply .037 .150 .027 .248 .805 Expiry_Date .146 .151 .107 .966 .339 Easy_Money .170 .123 .151 1.380 .175 a. Dependent Variable: Price Interpretation : The second table of interest is the Model Summary table. This table provides the R and R2 value. The R2 value is 0.679, which represents the simple correlation and, therefore, indicates a degree of correlation. The R2 value indicates how much of the dependent variable, Price of the commodity , can be explained by the independent variables, Demand , speculator , Supply, Easy money , Expiry date . In this case, 67.9% is the effect which is fair enough. 3. The next table is the ANOVA table. This table indicates that the regression model predicts the outcome variable significantly well. In the Regression row go to the Sig. column. This indicates the statistical significance of the regression model that was applied. Here, P 0.000 which is less than 0.05 and indicates that, overall, the model applied is significantly good enough in predicting the outcome variable. 4. The next table is Coefficients which provides us with information on each predictor variable. This provides us with the information necessary to predict Price from , Demand , speculator , Supply, Easy money , Expiry date . It is seen that Demand and Speculators contribute significantly to the model (by looking at the Sig. column). 5. By looking at the B column under the Unstandardized Coefficients column we can present the regression equation as: Price = -.980 + 0.511(Demand) + .487 (Speculators) 5.4.2 Regression Analysis An analysis of investors perception about Indian commodity market and there participation in the market as independent variable. And its impact on risk mitigation strategy as a dependent Table 5.5 : Regression analysis on factors determining mitigation of risk Interpretation :- The second table Model Summary table. This table provides the R and R2 value. The R2 value is 0.669, which represents the simple correlation and, therefore, indicates a degree of correlation. The R2 value indicates how much of the dependent variable, Price of the commodity , can be explained by the independent variables, How active an investor is there in the commodity market and opinion about volatility in the commodity market. In this case, 67.9% is the effect which is fair enough. 3. The next table is the ANOVA table. This table indicates that the regression model predicts the outcome variable significantly well. In the Regression row go to the Sig. column. This indicates the statistical significance of the regression model that was applied. Here, P 0.000 which is less than 0.05 and indicates that, overall, the model applied is significantly good enough in predicting the outcome variable. 4. The next table is Coefficients which provides us with information on each predictor variable. This provides us with the information necessary to predict Price from ,How Active an investor participate and his opinion of Indian commodity market . It is seen that contribute significantly to the model (by looking at the Sig. column). 5. By looking at the B column under the Unstandardized Coefficients column we can present the regression equation as: Price = 6.128 + 0.767(How Active) + .548 (Volatility) 5.4.4 About price discovery mechanism in future market Chart 5.6 : Future market price discovery process Interpretation :- As the Price discovery mechanism is concerned 28% of the respondents say that it depends on the future and spot relationship, 25% says its reflected first on spot, 23% on futures, 24% says market is efficient. So with this conclusion we can say that it is not very clear which way the price is discovered. 5.4.5 Factor Analysis :- Of the factors which can help in determining wheather price discovery mechanism exist in the commodity market factors taken into consideration are efficient market, price reflects first on the spot market, information first reflects first on the futures market and their exist a relationship between futures and spot prices KMO and Bartletts Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .557 Bartletts Test of Sphericity Approx. Chi-Square 19.164 df 6 Sig. .004 Interpretation :-Kaiser Meyer Olkin Values range between 0 and 1. A value near to 1 indicates a high correlation and suggests that the data is reliable whereas a value near 0 indicates that correlation is less than partial correlation. KMO value should be greater than 0.5, otherwise we need to collect more data or some of the factors should be eliminated. There are Four categories of value on the basis of KMO value. (0.5-0.7 is mediocre, 0.7-0.8 is good, 0.8-0.9 is great, greater than 0.9 is superb) In this case, the KMO value is .557, so the data falls in the category of mediocre. It means that the data are fair enough to carry on the factor analysis. Further, there should be some relationship between the variables, if we need to carry out Factor analysis. So the significance value should be less than 0.5. In this case the sig value is 0.04 which shows that the data are related to each other, so we can carry out Factor Analysis Correlation Matrix Efficient Futures_Market Spot_Market Closely_Related Sig. (1-tailed) Efficient .003 .147 .014 Futures_Market .003 .009 .218 Spot_Market .147 .009 .074 Closely_Related .014 .218 .074 5.4.6 Cross Tabulation To check the need of commodity options and to find out particularly in which commodity the financial instrument ids much needed. Importance * Agriculture Products Crosstabulation Count Agriculture Products Total No Yes Importance Very Important 9 14 23 Not Important 9 2 11 Indifferent 3 8 11 Total 21 24 45 Importance * Bullion Cross tabulation Count Bullion Total No Yes Importance Very Important 17 6 23 Not Important 3 8 11 Indifferent 6 5 11 Total 26 19 45 Importance * Metals Cross tabulation Count Metals Total No Yes Importance Very Important 20 3 23 Not Important 10 1 11 Indifferent 10 1 11 Total 40 5 45 Importance * Fossil/Energy Crosstabulation Count Fossil/Energy Total No Yes Importance Very Important 21 2 23 Not Important 9 2 11 Indifferent 11 0 11 Total 41 4 45 Interpretation :- This cross tabulation analysis is done to determine the need of commodity options in the market and also to know in which commodity product option is needed. So as per the data collected it shows that the commodity option is needed in the market it is much need derivative tool in the agriculture commodity. 5.4.7 Purpose for which commodity option can be used in the market Chart 5.6 : Purpose for which commodity option can be used in the market Interpretation :- As the chart shows that the investment in commodity option will be more for making profit through movement in the price and also it will be used as a risk mitigation tool. 5.4.8 Research based on Secondary Research Comdex index futures and spot Correlation :- This analysis is done in order to check the movement of futures and spot . As per the analysis correlation shows negative correlation .31. Which denotes movement in price of one effect the other inversely. Conclusion :- This shows that the movement in the price of one effect the other so there exist a price discovery mechanism between these two prices. 6.1 FINDINGS From the research we got to know that on the basis of an individual participation level in the commodity futures market determines his needs for investment. It is found that an active investor invest in futures market to mitigate the risk so it can be considered that the futures are being considered as a hedging tool. On the other hand non active investors in the commodity futures main motive is either making a pure investment or offsetting the price volatility in the market. Factors like mitigation of risk, parking of excess cash, offsetting price volatility and pure investment are the main reasons for trading in commodity futures. It is found that the factors like Supply , Demand , Speculators , Easy Money , Expiry date all have a direct effect on the price of the commodity and there exist a correlation among them. It is also found that there exist a relationship between individual perception of commodity market and there investment decision. As per the research done it is found that investor who view commodity market as volatile and are also active in market they in commodity futures for risk mitigation i.e. they consider futures as a hedging tool. On other hand who feels commodity market is not that volatile it is moderate on less volatile and they are too active in market there investment purpose is more as pure investment or offsetting price volatility. It is found that factors which help in price discovery mechanism like market efficiency, reflection of market information first on the spot market, effect of market information first on the futures market and that spot market and futures market are interrelated and helps in determining. As per the secondary research done on the datas collected of 3 index traded fund on MCX of India both their daily spot and future prices of past one year daily historic price it shows a coo relation, which means that they are closely interrelated so it can be said that market information are reflected on both the prices so futures can be said to discover price because of co orelation. As the research area also analyse the need of commodity option in the market it comes out with a finding that commodity option is much needed item especially in the agri commodity sector 6.2 CONCLUSION :- To conclude presently the Indian commodity market is getting very popular the volume of trade has increased so this has resulted in increasing the efficiency level of the market . But as India being a agriculture driven country and agri market mainly depends on the monsoon which is very uncertain so hedging against the price risk through commodity futures can be good idea and it has proved effective too in past and in other commodity too like energy, bullion, metals commodity futures can be a effective tool. Apart from futures in order to encourage commodity market commodity option too is about to be introduced in the market and as per the research investors are really looking forward for it and that too especially it will be great help in the agricultural sector. 6.3 SUGGESTION Commodity market is a good place too invest in it can help in mitigation of risk like price in risk in todays inflation effected scenario. Commodity market can help in securing a certain price level through the use of futures. Through the use of relation between futures and spot price discovery can be done so this can be used for arbitraging and speculating future trends in prices. With introduction of commodity option possibility in near future investement in commodity market will be emcouraged as it will provide a better hedge mechanism . So it can be said that it is worthwhile making an investement in commodity market now in order to hedge against the price risk, inflation risk and production risk . 6.4 SUGGESTION FOR FURTHER STUDY As my research is limited to areas like Kolkata and Bangalore soa further research can be conducted covering major cities. Sample size can be increased for getting a more clesr result . Respondents can include farmers and industrialist who trade in commodity market to hedge against their production and price risk More variables can be added which affect the commodity futures.