Evaluation Of The Viability Of The Sukuk - Free Essay Example

Sample details Pages: 13 Words: 3909 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? This proposal aims to evaluate the current status and the viability of the Islamic financial Securities such as Sukuk as an alternative of the conventional financial securities like Eurobond in the context of the current financial crisis. I will outline the overall aims and objective of the research and discuss the various studies on growth of Islamic finance and decline of conventional finance in the background of the financial crisis. This paper will reflect an overall structure of the whole proposal. SIGNIFICANT FOR THE RESEARCH In the financial global market, the Islamic financial services sector is analysed to be gown at double digit rate(Bley Kuehn, 2005), involving over 200 financial institutions with assets estimated to exceed US$ 200 billion(Al-Dhahiri et al, 2003). Researchers (Hamwi Aylward, 1999) already has recognised that over the last decade, Islamic banking and finance has experienced global growth rates of 10-15 percent per annum, and has been moving into an increasing number of conventional financial systems at such a rapid pace that Islamic financial institutions are present today in over 51 countries (Sole, 2007 pp:1). This research is aimed at investigating the practicability of the Islamic Financial system as an alternative to the traditional financial system especially in the context of the recent financial crisis. The fast growth of Islamic banking and finance raises different important questions: Is the development in Islamic banking and finance a result of the comparative adva ntages of the Islamic banking concept or is it largely attributable to the worldwide Islamic recovery since the late 1960s (Chong Liu, 2007). The fact that Islamic laws forbid paying and receiving interest promote all parties in a financial transaction to share the risk and profit or loss of the project (Qorchi, 2005). In an Islamic contract the output and the quality of the project, ensures a more equitable distribution of wealth (Qorchi, 2005). Don’t waste time! Our writers will create an original "Evaluation Of The Viability Of The Sukuk" essay for you Create order AIMS AND OBJECTIVES The overall aim of this research is to review and evaluate significant growth of Islamic finance and financial securities as an alternative of the traditional financial system and financial securities which led to the current financial crisis. The objectives of the research can be further identified as: (1). the recognition of the basic concepts of conventional and Islamic financial system. (2). How did studies deal with financial crisis and its effect on the traditional and Islamic banking system. (3). what are the effects of current financial crisis on traditional bond market? (4). How does the Islamic Finance response to the crisis? (5). Is Islamic Securities à ¢Ã¢â€š ¬Ã¢â‚¬ ¢Sukukà ¢Ã¢â€š ¬Ã¢â‚¬â€œ feasible? (6). If Islamic Sukuk is feasible then can it replace the traditional Eurobonds? (7). If it is not feasible then can it co-exist with the traditional Eurobonds? Overview Conventional Financial system Everyone has to contact with the financial system and everyone is very well aware of the financial institution like banks, building securities, and insurance companies, each providing in its own way for every day needs, such as payment facilities through banks, convenient savings and access to home loans from building societies, and car, house, or life insurance. The other financial markets, like the Stock exchange where the securities are bought and sold, are an important market though very few are directly concerned with their activities (Van Harne, 1990). All these financial institutions and markets fit together into a network which comprises the financial system or conventional financial system (Brian, 1992). The conventional financial system based on debt and the fixed rate of interest. The borrower in gaining the high fixed returns may get default as these bonds and corporate securities are not backed by the assets or gold. The burden and all risk are transferred on the is suer. Therefore in try to get high returns and greed of getting more financial share the conventional borrower and mortgage prices went up which result in the drying up the financial market and major companies got default. Islamic Financial System The Islamic financial system makes possible lending, borrowing and investment functions on a risk-sharing basis (Ishaq Mansoor, 2008). Islamic finance is fundamentally different from the conventional finance model as it is based on a profit and loss structure (PLS), which requires that a financial institution invest with a client in order to finance their needs, rather than lending money to the client. Because of the inherent risk involved in an investment, the financial institution is entitled to profit from the financial transaction (IBID). (SBP, 2007). Islamic banking and finance industry has been making breakthrough developments to become a truly feasible and competitive alternative to conventional systems at the global level as an industry adding more ethical, competitive, flexible and diversified tools and systems to global financial marketsà ¢Ã¢â€š ¬Ã¢â‚¬â€œ (Ishaq Mansoor, 2008 pp: 708). The need for Islamic banking is prompted by three considerations: (a). An I slamic investor should keep away from alliance with industries forbidden to Muslims: such as; alcohol, gambling, pornography, meat packing (of pork), weapons production, and liquor. (b). An Islamic enterprise is advised to avoid interest (riba), as well as gambling, and, accordingly, constraints exist on transactions involved in debt securities and in futures and options. (c). Many Muslim investors tend to be attracted to enterprises monitoring the Islamic ethical and moral standards (Oà ¢Ã¢â€š ¬Ã‹Å"Sullivan, 1996). The Islamic finance industry has grown by about 15 percent on average over the last three years, with more than US$500 billion now lodged in Islamic banks, mutual funds, insurance schemes (takaful), and Islamic branches of conventional banks (Jobst, Kunzel, Mills, Sy, 2008). Islamic Law prohibits charging interest (Rajesh, K.A Yousaf, T., 2000). Islamic banking is currently practiced in more than 51 countries worldwide. In countries such as, Iran, Pakistan , and Sudan, only Islamic banking is practiced whereas other countries, such as Bangladesh, Egypt, Indonesia, Jordan and Malaysia, Islamic banking co-exists with conventional banking (Chong Liu, 2007). Therefore Islamic banking, is not limited to Islamic countries as In August 2004, the Islamic Bank of Britain became the first bank licensed by a non-Muslim country to engage in Islamic banking (Chong Liu, 2007). SUKUK Islamic securities have become increasingly popular in over the last five years, both as a means of raising government finance through sovereign issues, and as a way of companies obtaining funding through the offer of corporate Sukuk (Wilson, R., 2008) as Sukuk is to be use as a tool for liquidity management (Wilson. R., 2008), the Sukuk market continues to generate strong interest by new issuers in Muslim and non-Muslim countries. Sukuk (plural of Sakk) are commonly referred to as an Islamic bond, but a more precise translation of the Arabic word would be an Islamic investment certificateà ¢Ã¢â€š ¬Ã‹Å"à ¢Ã¢â€š ¬Ã‹Å"(Thomas, 2005). The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) defines the Investment Sukuk as a certificates of equal value representing undivided shares in ownership of tangible assets, usufructs and services or (in the ownership of) the assets of particular projects or special investment activityà ¢Ã¢â€š ¬Ã‹Å"(Norman, T. ,2009). Sukuk is an Islamic financial certificate, similar to a bond in Western finance that complies with Sharia, Islamic religious law. As the traditional Western interest paying bond structure is not permissible, the issuer of a Sukuk sells an investor group the certificate, who then rents it back to the issuer for a predetermined rental fee. The issuer also makes a contractual promise to buy back the bonds at a future date at par value (investropedia, 2009). Sukuk are monetised real assets (converting a government debt into available currency, especially issuing securities, that are liquid (easy to convert into cash), easily transferred and traded in the financial market (Adam, 2006). Likewise the Eurobonds are also liquid assets which are marketable and accepted by all the investors (www.independent.co.uk, 2005). Eurobonds are issued by a government, company shows potential to repay borrowed money at a fixed rate of interest at a specific time. Eurobonds are liquid and trusted bonds as it is backed by a fixed interest rate (ibid). Sukuk can be examined without any difficulty by international and regional rating agencies which facilitate their marketability (Adam, 2006). Likewise the Eurobonds are easily rated by the rating agency as these rating agencies rate these securities on the basis of the liquidity and the liabilities not on the basis of the religion and ethics (Standard Poorà ¢Ã¢â€š ¬Ã‹Å"s, 2009). As the agencies do not rate the securities on the basis of the religion, rather securities are rated on the basis of the quality and the ability of obligator to meet the obligations (ibid). Same like the similarities in the Islamic and conventional financial securities, there are few differences as well, and on the basis of that one system can be preferred on the other system. Starting from the type, the conventional financial Security is a debenture bond whereas the Sukuk are the Secured securities. Debenture bonds are those securiti es that is unsecured corporate bond by any mortgage, dependent on the credit of the issuer (Dictionary Reference.com, 2009). Whereas the Sukuk are backed by the real assets such as they are attached with the assets which can be turned into tradable in the future or can be replaced by the real assets (Richardson Abdl-Khaleq, 2007). Eurobonds are paper bonds whereas the Sukuk securities are really assets based security which have potential to convert the security into tradable asset in future. Secondly, the major difference in Sukuk and conventional bond is the right of ownership. As Sukuk represent the ownership opportunity in existing or well described assets whereas conventional bond represent pure debt on the issuer (Adam, 2006). LITRATURE REVIEW The relative success of the Islamic finance is remarkable (Bley Kuehn, 2005)as islamic finance institution are making progress with the grwoth rate of 15-18% which is double the average growth rate of conventional finacial institutions (Saifi, 2004). We will discuss A review of the litrature on traditional financial system (TFS)and Islamic financial system( IFS) and the security markets. That is devided into sections as will be reviewing the litrature on the decline of the popularity of the TFS and the growth of the IFS over the last two decades. The litrature review basically discuss information of three area on which research will be carried: (a) traditional banking system and its downfall, (b) islamic financial system and its growth, and (c) the empirical investigation of the feasibility of islamic financial securities to alternate the traditional finacial bonds to raise funds for the projects. BACKGROUND FOR STUDY The current collapse of banking and financial institutions raised a question as interest rate has long been recognized not only by classical and neo-classical economists but also by contemporary economists as one of the factors that determine the level of savings in the economy. Although there are cases of inconsistent findings, it is a generally accepted opinion that interest rate has a positive relationship with savings (Ahmad Haron, 1999). Generally, financial institutions perform two functions; one is to collect deposits and the other is to issue loans (Toutounchian, 1996). Depositors are guaranteed a predetermined return on the nominal value of the deposit by the bank even in most of the cases the deposits are insured (ibid). Hence it can be argued that the traditional financial system plays a passive role in the economy, is operating to face any economic fluctuations (ibid). It is argued that in these banks since the nominal value of the deposits is guaranteedshocks that can lead to banking crisis can cause divergence between real assets and real liabilities and it is not clear how this equilibrium would be corrected and how long the process of adjustment would takeà ¢Ã¢â€š ¬Ã¢â‚¬â€œ (Mohsin, 1985). This is the real essence of fund intermediary function of a traditional finance (Toutounchian, 1996). Islamic finance can simply be defined that it is based on the basic principle of the prohibition of the riba as Islamic institutions does not charge interest but rather participates in the yield resulting from the use of the funds( Lewis Algaoud, 2001). Ebrahim Safadi ( 1995) advocates that islamic finance operations are according to the profit and loss sharing principle which are superior financial security to debt for many reasons including risk sharing of the equities (Hamwi Aylward, 1999. Liu Chong(2007) are of the view that the islamic finance is not different from the conventional finance as the unique feature Profit and Loss sharing ( PLS) practically is very similar to the TFS as islamic financial products based on the PLS are not interest free beacuse pegged to conventional deposits(ibid). On the other hand the basic pillar of the conventional financial system is interest rate and fixed income securities have been accepted globally in raising finance for funding large development and capital expenditures (Usmani, 2006). A fixed income security is an investment which provides a return in the form of fixed periodic payments and ultimate returns of principal at maturity (Usmani, 2006). The motivations of firms that issue global bonds is particularly to test whether firms are motivated to offer bonds in multi-markets to raise more capital, take benefit of being well-known in foreign markets and owing to poor domestic economic conditions (Tawatnuntachai Yaman, 2008). The bond market robustness converts into depression when financial crisis which started in 2007 has created the greatest financial dislocatio n since the Great Depression of the 1930s (Melvin Taylor, 2009). The Eurobond which are based on fix interest rate and guaranteed of fixed return failed to impress the investors in an auction (Kaminska, 2009). In addition, the loans rate set in the fixed income market will have large effect on the demand for properties, and thereby prices, one would strongly believe that securitised property prices are determined by the interest rate changes rather than the stock market (Cheong, Wilson, Zurbruegg, 2009). Financial markets are intergrated now a days and no single economy can avoid the effect of the financial crisis (Chapra, 2007). If the financial system is not responsible for the crisies then why there is a general nervous feeling that à ¢Ã¢â€š ¬Ã¢â‚¬ ¢something is wrong with the financial systemà ¢Ã¢â€š ¬Ã¢â‚¬â€œ (Stiglitz, 2003, p: 54 On the other hand, the Islamic finance manages the affair without involving the pre-agreed interest payment and receipts that replace the interest-based intermediation between the borrower and the lender with profit and loss sharing and equity based link (Bhatti Khan, 2009). CURRENT FINANCIAL CRISIS The credit crunch refers to a sudden shortage of funds for lending, leading to a resulting decline in loans available (Blog, 2008). A Credit Crunch can occur for various reasons such as sudden increase in interest rate, direct money controls by the governments and a drying up of funds in the capital market (Blog, 2008). The crisis started in 2008 in US supreme mortgage market and widely spread all over the world which raised a question that why this has system collapsed which leads the splillover effects from US sub- prime crisis to UK by far the most transparent and worrying for the authorities that exposed the tension between the central banks with respect to the provision of liquidity support facilities, the difficulties inherent in the economy for dealing with the banking crisis, defects in banking economy regulation and supervision and the glaring flaws in deposit protection arrangements (Maximilian, 2008). Islamic Finance Response to Crisis Principles of Islamic Finance The first principle has an effect on the depositors à ¢Ã¢â€š ¬Ã‹Å"behaviour and their decision-making process. The choice of action is based not only on the immediate financial returns but also on those returns in the hereafter. Since Islamic banks operate on an interest-free basis and their establishment is designed to improve Muslim communities. In the case of the second principle that involves wealth, Islam has given a clear guideline to be followed by Muslims. The essence of Islamic finance summarised by the Charles FÃÆ' ¨vre, 2006 is as following: Interest rate, taking or receiving on transactions is prohibited. Capital must have a social and ethical purpose further than pure, unfettered return; Investments in those businesses which are dealing with alcohol, gambling, drugs or anything else that the Sharià ¢Ã¢â€š ¬Ã¢â€ž ¢ah considers unlawful and unwanted, are prohibited. Transactions involving masir (speculation or gambling); gharar, or uncertainty abo ut the subject-matter and terms of contracts are forbidden which includes a prohibition on selling something that one does not own. As the interest-earning on investments are restricted, Islamic banks obtain their earnings through profit-sharing investments or fee-based returns (Charles FÃÆ' ¨vre, 2006). Traditionally an Islamic bank offers two kinds of services: firstly; it provides services for those on a fee or a fixed charge, such as safe deposits, fund transfer, trade financing, property sales and purchases or handling investments (IBID). Secondly; those that involves joint ventures in investments and the sharing of profits and losses (Charles FÃÆ' ¨vre, 2006). REASEARCH METHODOLOGY Methodology is a set of tools, techniques, procedures and investigative methods, used to collect, store, analyse and present information. Scientific methodology involves the development of hypotheses and predictions, investigating the manipulation of particular variables while maintaining all other variables constant, using measurable, objective measures and statistical analyses in order to come to conclusions about the topic under investigationà ¢Ã¢â€š ¬Ã¢â‚¬â€œ (inspiritive.com, 2009). Research can be defined as à ¢Ã¢â€š ¬Ã…“something that people undertake in order to find out things in a systematic way, thereby increasing their knowledgeà ¢Ã¢â€š ¬? (Saunders et al, 2003). Research methods are the means by which knowledge is acquired and constructed within a discipline. It needs to be both relevant and rigorous in order to be accepted as legitimate within a particular field of knowledge (Harvey Myers, 1995).whereas Leedy Research methodology can be explained as the process carried out to achieve the overall aim and objectives of the research (Saunders et al, 2003). What does Research Methodology Include? The research methodology involves primary data and secondary data. The primary data collected are more consistent with our research questions and research objectives. With the help of primary data the reasons behind consumer behaviour, management decisions or problems faces in internationalisation efforts can be identified (Ghauri Gronhaug, 2005). According to Hussey and Hussey, (1997, pg.149) à ¢Ã¢â€š ¬Ã¢â‚¬ ¢original data is known as primary data, which is data collected at sourceà ¢Ã¢â€š ¬Ã¢â‚¬â€œ. Primary research provides information and data which doesnà ¢Ã¢â€š ¬Ã‹Å"t already exist. Some of the methods of primary data collection include: Focus groups, Interviews, Observation and Questionnaires (Saunders et al, 2003). According to Saunders et al., (2007, pg.272) à ¢Ã¢â€š ¬Ã…“data that have already been collected for some other purpose, perhaps processed and subsequently stored, are termed secondary dataà ¢Ã¢â€š ¬?. Data can be collected internally or externally from th e available materials for literature. These materials come from books, journals, articles, research papers, conference proceedings, newspapers, theses and internet sources. It includes both quantitative and qualitative data and they can be used in both descriptive and explanatory research. Within business and management research such data are used mostly in case study and survey-type research (Saunders et al, 2003). Research Methods Generally available methodological options for Research are two: qualitative research and quantitative research (Ticehurst Veal, 2000). Qualitative Research The purpose of qualitative research is to describe a certain process or problem, to interpret a particular problem and to develop new theoretical concepts and perspectives, to verify the validity of certain problem, and to evaluate the effectiveness of the chosen particular problem (Leedy, 2005). The qualitative analysis based on meaning expressed through words, symbols, interpretations, actions and behaviour (Thornhill et al, 2003). Quantitative research Generally, quantitative research is used to answer the question about relationships among measured variables with the purpose of explaining, predicting, and controlling phenomenon ( Leedy Ormord, 2005). Whereas, Thornhill et al, (2003) stated that in quantitative analysis, the data is based on meanings from numbers. The collection results in numerical and standardised data and the analysis are conducted through the use of diagrams and statistics (Thornhill et al, 2003). The aim of the project can be viewed as qualitative, explanatory, and comparative. To fulfil these aims, the study intends to use the qualitative comparative research strategy (Bryman Bell, 2003). As Leedy Ormrod (2005) noted that qualitative researchers commonly use triangulation for the validation of the research. Comparative Analysis Given the options, qualitative research will be carried out where the literature to be reviewed will be mainly secondary data. The results obtained from the data can be validated by using the above mentioned strategies and comparative analysis which is suggested by Leedy Ormrod (2005) to fulfil the requirements of research. As the Max Weber (1968) also develop approach for social and economical analysis based on comparative method to identify that the researcher plays primary role in outlining research questions, categorizing elements of analysis, and the topics for comparison rather than assuming an objective separation of the researcher and data, as he is of the view that this kind of approach does not confuse researcherà ¢Ã¢â€š ¬Ã‹Å"s conceptualization of the under research phenomenon and phenomenon itself. Comparative analysis facilitates researcher to investigate the problem from a recognized starting point and the investigate other aspects of the object during analysis (Web er, M., 1968 cited in: Google, 2009) Data Collections and Methods In order to achieve the aims and objectives of the research a series of the reviews will be conducted on available literature on Islamic Finance and Conventional finance, particularly the Islamic securities. Islamic source of finance, Al- Quran, Sunnaà ¢Ã¢â€š ¬Ã‹Å"ah, Shariaà ¢Ã¢â€š ¬Ã‹Å"a Laws, and Hadiths books have been taken into account to get information about the Islamic financial principles, and the regulations which are applicable to the finance. This research is based on secondary data which is collected by using research techniques, procedures and instruments such as 1. Journals 2. Books 3. Libraryà ¢Ã¢â€š ¬Ã‹Å"s web based services such as ABI/Inform, Proquest system, Jstor, Emerald. 4. Newspapers 5. Internet and internet article As qualitative comparative analysis will allow the researcher to outline the research objectives and categorizing the elements of the analysis and the choice of selection of the topic to analyse. The comparative analysis will helpful throughout the research to investigate the selected topic from a recognised point and researcher will be able to investigate the other aspect of the analysis. The methodology will be persuaded towards an approach in order to analyse appraise views on the Islamic financial system and Islamic securities in detail as an alternative to the traditional financial system in the context of current financial crisis by presenting and discussing with supervisor as to how he see the future of Islamic and traditional banking following the direction in which it is undertaken. LIMITATIONS This research may have few limitations The main concern is the collection of basic qualitative data from reliable sources mainly from university web based sources and Google scholar search materials; the challenge will be the identification of the reliable sources as often there will be situation where the results can vary from source to source. Sorting the reliable data from since the resources have vast options and all of them might not be having the same facts and figures which will be may required more time than expected in research process. Another limitation that may occur and cause the research to be narrowed and summed up sooner is for the research to miss out on some useful information which would be useful if taken under consideration. As for the vastness of the topic it is a concern that could be distracting as religious validities can be possible but main focus will be managed throughout the research. This research is a qualitative comparative analysis which is de pending on the secondary data that may lead research to be limited as collection of data is generally more time consuming and the time is limited and it is not possible to studied wide range of literature which can make difficult to make a systematic conclusion. Drawn Conclusion Comparison of the both system (Islamic Financial System and Conventional Financial System, major will be the Islamic financial securities and conventional bonds) will formed the ground for the conclusion depending on the information gathered from research.

Conflict Resolution and the Australian Contract Law

Conflict Resolution and Australian Contract Law Introduction: Australian contract law is based on Common Law as originated from the British tradition. However, as noted by Australian Government (2012), said law is currently under review and subject to evolution in the near future. This will be some relevance to the discussion hereafter, which considers the implications of a contract between the parties of JG (the represented) and ITMS (the representation) and further consider the implications of a conflict arising over this contract. Conflict Experience: Briefly, the conflict experience delineated in the case history concerns the signing of Australian womens tennis player JG with management and marketing firm ITMS with the intention that the latter would help secure marketing and sponsorship opportunities for the former. As JG continued to perform well in her responsibilities as a rising tennis star elevating her rank and achieving a relatively singular status in the field of Australian womens tennis her management firm failed to capitalize on the opportunities newly available to her. According to the case history, in 2010, JG had her most successful year on the Womens Tennis Association (WTA) tour finishing the year ranked 42 in the world. During the period of 2010, no further business opportunities were presented to JG by ITMS. Meanwhile, Australias two other top players were increasing their profile, through endorsements, within both the international andShow MoreRelatedFacts About Blissful Dance Shoes862 Word s   |  4 Pagesto be analysed comprehensively, as follows: 1. The legal regime in the contract of international sale of goods between BDS and the foreign country There is no international law applied into the contract of the international sale of goods. 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Analysis of the NSPCC Advert Free Essays

Advertisement is a manipulative use of media in order to bring the audiences attention to a product or service. In the two advertisements we see two different uses of the same media (posters). Types of advertisement come under two main categories: Importance-giving important details such as opening dates and location. We will write a custom essay sample on Analysis of the NSPCC Advert or any similar topic only for you Order Now Persuasive-plays more on the manipulative side, this is present in the two posters. The ‘NSPCC’ advert is appealing to our sympathetic and emotional sides asking for our donations to help the troubled child. We are given the impression that we are helping an individual; this is because of the picture and accompanied story. A vulnerable child bandaged and exposed on what seems to be a bed rather than a crib dominates the page. The message is limited to 1/3 of the page. This message is subtle, keeping our sympathy going rather than anger. ‘NSPCC’ is placed in the bottom right hand corner, a name that is well know and respected for its work. The message is in bold lettering against a large white space so it is easily noticed. The message is snappy and carries a rhythmic pattern which is disturbed by the line ‘and the tips of her father’s fingers.’ Also you can read Analysis July at the Multiplex The baby bandaged and covering its eyes creates an impact on the reader and our attention is diverted b the captivating text, it opens with the word ‘All’ which suggests a limited list. In the final item to the list we are shocked at the abolished subtlety. ‘Tip’ suggests sharpness increasing the sympathy pain. When we read the donation form we discover yet more about this unfortunate child. In the more in depth story lines such as ‘loss of control’ leads us to thoughts of frantic behaviour. Before we get to the amounts for donation we get the line ‘I want to help’ this leaves little room for us to deny such an emotional appeal. Rhetorical devices are not present in this appeal because it asks for our co-operation through sympathy instead of the company arguing their point. The overall effect is simple and direct, simplicity is used because they are emphasising how the picture says it all. One sentence in the donation form is opened with ‘You’ personalising the advert and making it the reader feel involved and important. The ‘BP’ advert uses shock to entice the audience. We cringe with disgust as we see the worms entwined and stacked together taking up 2/3 of the page. The headline is bold but once read it only confuses the reader and increases captivation. Due to our curiosity and hate of confusion we read on in order to understand the link between the poster and its headline. The ‘BP’ logo is small; if it wasn’t we’d know what the poster was about and would find little need to read on. In this poster there is little need for fancy fonts because curiosity has already occurred. The caption has an informal tone a sign of humanity making it easier to converse with this company. The caption opens with ‘Most people would’ a sign of them distinguishing themselves from the average. They make out to be environmental campaigners but our futures can’t be the first worry of a petrol company. Both adverts use visually shocking pictures, they erect curiosity. ‘BP’ and ‘NSPCC’ claim protection over something to our caring and nurturing nature. When we are asked to care it is difficult to refuse without guilt of being heartless. Overall both pictures use the element of shock to attract an audience, 1/3 of the page is a description because the pictures alone aren’t too descriptive. ‘NSPCC’ uses slightly enlarged and conveniently spaced lettering because the picture requires very little explaining. ‘BP’ uses a confusing headline to lure the audience in and keeps the curiosity levels going. A shocking picture is accompanied by 1/3 of writing, the explanation is in a small font and is not partic ularly short in content, and this is effective in making this a memorable poster. Both posters have a small company logo, but this for different reasons; ‘BP’ is to crate confusion and ‘NSPCC’ is to give the impression that the poster is a campaign for children rather than popularity. Dramatic vocabulary is used in small amounts throughout the two posters such as; ‘All this baby will ever remember’ and in ‘BP’ ‘Protecting’. ‘BP’ could have used statistics but decided not to, this makes the poster humane and the reader feels empathetic towards the ‘NSPCC’ advert. Read also  Case 302 July in Multiplex Presentational devices are arranged around the one objective ‘shock’. These posters captured my attention and curiosity; I was more interested in the ‘BP’ because it wasn’t too blatant with its point so it required more information beyond its headline. They were both successful in their intentions, but both obviously were directed at two different audiences. Sympathy is a very emotional mindset and as long as our emotions are triggered we become captivated. Emotions are difficult to ignore because they engage rational thinking with knowledge, a combination that would be un-human to ignore hence its use in these adverts. How to cite Analysis of the NSPCC Advert, Papers

he ways in which women writes connect writing withthe body Essay Example For Students

?he ways in which women writes connect writing withthe body Essay However many feminist theorists continue to emphasize the entirety and truthfulness of the female body. Even a feminist, against gender restrictions, is captured in a lesbian body and has to conform to their expectations An important aspect of the body, which features in both novels, is the hands. The hand represents a strong connection between people. The shaking of the hand is a polite, formal gesture, the kissing of the hand often shows courtesy and affection and the holding of hands portrays friendship, support or affection. In Written on the Body, hands are used to show affection, either during sexual encounters to explore the body, I run my fingers round the rim18 and the wise old hands who advocate a sensible route, not too much passion, not too much sex19, or as a symbol of togetherness I was holding Louises hand, conscious of it but sensing too that a further intimacy might begin logged in body more than held in the mind20 Sadomasochism, in Wuthering Heights, produces a obsession for Catherines hands. Catherine is perceived as an extremely violent character. Nelly Dean, divulges that even as a child she was physically malicious, he says in play, she liked exceedingly to act the little mistress; using her hands freely, and commanding her companions21 The fascination of controlling and being a mistress along with violence even carried on into her adulthood, with continuously the use of her hands. Even before Edgar and Catherine were lovers he witnesses Catherines violence. she hurt me extremely; so I started up from my knees and screamed out, Oh miss, thats a nasty trick! You have no right to nip me, and Im not going to bear it. she never had the power to conceal her passion. Her violence appears to be a way of releasing her anger and sexual frustration. Overall, the passion driven characters such as Catherine, Heathcliff and Hindly, torment and cause pain to others as a means to relief of their anguish. In connection with Written on the body, the hand serve as a very sexual and affectionate basis, perhaps even in the form of violence. This is suggested further in Wuthering heights, having been hit once Edgar pulls away in order that it portrays he doesnt enjoy the physical abuse but obtains pleasure from the close contact with Catherines body. Bronte describes the sheer power of Catherines aggression towards Hareton, who is only a mere child. He proclaims wicked aunt Cathy22 She appears not to be able to constrain herself, but perhaps this is the only form of power she possess. Violence toward the body, as a means of anger and frustration can also be seen in Written on the body. The narrator has the instinct to cram his windpipe into his larynx23 whist he kicked in the shins and punched in the stomach. The infliction on plain on the body appears to act as a form of relief and compensation for emotional pain. Furthermore on the body, Wuthering Heights doesnt appear as explicit and sexual towards the body, as Written on the Body. However the passion between Catherine and Heathcliff goes as deep as their desire to be one. Catherine states Nelly, I am Heathcliff-hes always, always on my mind24 and Heathcliff in reference to Catherine despairs Oh God! It is unutterable! I cannot live without my life! I cannot live without my soul! 25 Both are willing sacrifice themselves, there bodies, and their identities to be together. This connects to Freudian interpretation of the novel. The characters of Catherine, Heathcliff and Edgar can represent Freuds id, ego and superego. They merge together to form one personality and mental state, hence one body. Heathcliff represents the id, the sex drive that exists in the unconscious. His characteristics fit due to the fact he runs wild as a child, he is always in the back of Catherines mind and his three year absence remain unknown. Catherine connects with others and tests and controls Heathcliff, the id, hence she becomes the ego. History 111 EssayThere is still the impression of craving for that person, I went back to bed, gave up the fight and dreamed of Louise. 35 Both of the novels portray yearning for the body of the lover when they are not there. The presents of the figure offers fulfilment and security. The soul in the format of a ghost, or memories, within there dreams, are not enough. Therefore the body, literally is key is a romance. My final point of address is the ending conventions of romance. Both Wuthering Heights and Written on the Body do not finish typically with the lovers together or in marriage. They both appear to show either the body continuing, the body regenerating, through birth or the death of the body. Perhaps this indicates that love is the circle and means of life. Brian Finney, in an essay about Written on the body, states love has been verbalised so it is almost impossible to write anything new about the experience. 36 Nevertheless, both these novels from entirely different time periods highlight, with the use of the body, a whole new variety of ideas that I didnt contemplate until this essay. Both authors want to be distinctive and not follow their society conventions and gender boundaries. In conclusion, the body appears to represent the identity of an individual. It is something we hold onto and desire and when it is absent we yearn for its presence. Due to gender the body automatically carries ideologies of society and both novels and theorists demonstrate that these are difficult to escape. Winterson uses the body though the entire novel to represent a myriad emotions ranging from pain to pleasure. Bronte tends to apply in as a form of constriction to the human soul and desires. Both the novels, despite there different time periods, address similar ideas about the body but in entirely different ways. Overall the body plays a key role in the romantic genre. Bibliography E Bronte, Wuthering Heights, Next classics, London, 1996 V Leitch, Norton Anthology, Theory and Criticism, Norton and company Inc, USA, 2001 J Winterson, Written on the Body, Vintage, London, 1996 Other sources Women and Language, Volume xxv No 2 Adobe www. yourdictionary. com www. ags. uci. edu http://ettc. uwb. edu www. csulb. edu 1 www. yourdictionary. com 2 Norton Anthology, Judith Butler, Page 2485 3 Written on the Body page 82 4 Wuthering Heights Page 80 5 Women and Language, Volume xxv No 2 Page 25 6 Stewart Women and Language, Volume xxv No 2 Page 25 7 Norton anthology Freud the uncanny 8 http://www. ags. uci. edu 9 Norton Anthology, Judith Butler, Page 2485 10 Written on the Body page 73 11 www. yourdictionary. com 12 http://ettc. uwb. edu. pl/strony/friends/suwalki/Treasure%20Hunts/Dorota/jeanette_winterson. htm 13 Written on the Body page 89 14 Norton anthology page 2491 15 Norton anthology page 2491 16 Women and language, volume xxv no 2 page 24 17 Women and language, volume xxv no 2 page 24 18 Written on the body page 73 19 Written on the body page 71? 20 Written on the body page 82 21 Wuthering Heights page 30 22 Wuthering Heights page 60 23 Written on the body page 170 24 Wuthering heights page 25 Wuthering heights page 273 26 Norton anthology page 2031 27 Norton Anthology 2030 28 Wuthering Heights page 29 Norton anthology page 2368 30 Wuthering Heights page 340 31 Written on the body page 103 32 Written on the body page 190 33 Written on the body page 190 34 Norton anthology page 2491 35 Written on body 149 36 http://www. csulb. edu/~bhfinney/Winterson. html 302 Woman Writes Stephanie Noonan?