Literature Review of Finance and Share Price

Literature Review of Finance and Share Price LITERATURE REVIEW This study relates to examine the relationship of cash flow from operations, earning and sales with share price and the previous research has predicted the comparative abilities of cash flow, earning and sales but this study is only concerned with the relationship of cash flow, earning and sales with share price. In the finance literature that market forces determine share price equal to the discounted value of a stream of expected future cash flows (Hollister et al., 2002). Cash flows represent amounts investors expect to receive in the form of dividend payments or from the sale of their shares and not necessarily the annual operating cash flows generated by a firm. Consequently, it is in a very broad sense that share price is considered to embody a firms future cash flows. Even if share price is often thought of and evaluated in terms of cash flows, earnings is also known to be extremely important to managers and analysts because of the key information it conveys about future prospects (Brigham and Ehrhardt, 2002). Various researchers examined value in terms of share return that Earnings reflect a stronger correlation with share return than does current operating cash flows (Watts, 1977; Dechow, 1994; Bartov et al, 1997) .It has been shown that earnings better predicts future operating cash flows than does current operating cash flows because accruals in earnings â€Å"offset the negative correlation in cash flow changes to produce earnings changes that are much less negatively serially correlated ( Dechow, et al 1998) that is why earnings, rather than current operating cash flows, tends to be used in firm share valuations. Earnings quality can be affected by sales volatility (Dechow and Dichev (2002) and Francis et al. (2004). By and large the greater the sales volatility, the more unstable is the operating environment. This results in larger estimation errors for accruals and diminished earnings quality. It gives an idea about how monthly sales announcements of major department and discount stores provide information for investors not only for the retail giants but also for their suppliers (Olsen and Dietrich (1985). The sales volume announcements for the retailers furnish information on the future cash flow prospects for their suppliers and, thus, are incorporated into the suppliers share prices. Dharan (1987) examined the comparative abilities of accrual sales and cash collections of sales to predict future cash flows. It is found that when cash realization occurs in a period subsequent to sales realization, cash flow forecasts from earnings based on accrual sales are better than cash flow forecasts from earnings based on cash collections. This is because of accrual sales â€Å"provides information on managements expectations about future cash flows (Dharan, 1987). Greenberg, Johnson, and Ramesh (1986) used 1963-82 compustate data to test the ability of earnings and CFFO to predict future CFFO, for each firm two separate ordinary least squares regression models were used. The first model test used previous earnings against current CFFO (earnings model) the second model used CFFO for lags of 1-5 years against current CFFO (cash flows model).R square for the earnings and cash flows model were compared and the model with the higher R square was determined to be the better predictor. The results showed that earnings outperformed CFFO in predicting future CFFO. It was concluded that the study provides evidence in support of the FASBs assertions that current earnings is a better predictor of future cash flows than is current cash flows. Juan M. Rivara(1996) found out the accuracy and the consensus among forecasters of earnings estimates for U.S. domestic and U.S. multinational corporations, it was observed that the accuracy of earnings forecasts is significantly lower for purely domestic firms than for U.S based multinationals. Like wise the level of consensus in earnings estimates submitted by financial analysts is significantly lower for U.S. domestic than for U.S. multinational firms. The accounting profession requires that firms disaggregate net income into specific components, even though earnings disaggregation is important for assessing firm profitability, there is little empirical evidence that the classification scheme actually improves profitability forecasts by analyzing the accuracy improvements in out-of-sample forecasts of one-year ahead return-on-equity (ROE) to examine the predictive content of earnings disaggregations (Fairfield, Sweeney, Yohn) .The results show that the classification scheme prescribed by the accounting profession does increase the predictive content of reported earnings. It was found forecasting improvements from earnings disaggregation. These improvements go beyond separating extraordinary items and discontinued operations from the other components of earnings. Further disaggregation of earnings (into operating earnings, non-operating earnings and taxes, and special items) improves forecasts of ROE one year ahead. (Ball and Watts (1972), Albrecht, Lookabill McKeown (1977), Watts and Leftwich (1977) and Lev (1983) studied the Earnings ability to predict future earnings studied first or second order autocorrelations and or forecasts over one or two-year horizons and provided evidence to support a random walk model that is uncorrelated earnings changes, However, random walk may not be descriptive of the earnings process Where as Ramesh and Thiagarajan (1989) rejected a random walk earnings model and Lipe and Kormendi (1993) show that higher order, rather than random walk, models are descriptive of market-adjusted earnings time-series process. Finger (1994) found out the earnings ability to predict future earnings and future cash flow from operations1 one through eight years ahead using annual data from1935-87 for 50 firms. I use time-series methods to test firm-specific predictive ability over the entire time period (hereafter in-sample regression tests) and then compare out-of-sample forecast errors to assess earnings ability to improve earnings or cash flow forecasts up to eight years ahead. He found that earnings are a significant predictor of future earnings, in sample, for 88% of the firms. The random walk provides better out-of-sample forecasts than do individually estimated models one year ahead for 52% of the sample firms, Out of sample forecasts show that random walk models outperform individually estimated earnings models for one-year but not for four- or eight-year horizons. Earnings, used alone and with cash flow, are a significant predictor of cash flow for the majority of firms. However, out-of-sample foreca sts show that adding earnings rarely improves cash flow forecasts. Cash flow is a better short-term predictor of cash flow than are earnings, both in and out of sample, and the two are approximately equivalent long-term. The nature of the information contained in the accrual and cash flow components of earnings and the extent to which this information is reflected in stock prices Sloan (1996). It is found that earning performance attributable to the accrual component of earnings exhibits lower persistence than earnings performance attributable to the cash flow component of earnings, hence results also indicated that stock prices act as if investors fixate on earnings, failing to distinguish fully between the different properties of the accrual and cash flow components of earnings. Lorek Willinger (1996) the time series properties and predictive abilities of cash flow data. Results indicate that this model clearly outperforms firm-specific and common-structure ARIMA models as well as a multivariate, cross-sectional regression model popularized in the literature. These findings are robust across alternative cash-flow metrics (e.g., levels, per-share, and deflated by total assets) and are consistent with the viewpoint espoused by the FASB that cash-flow prediction is enhanced by consideration of earnings and accrual accounting data. Bowen, Burgstahler Daley (1986) examined relationships between signals provided by accrual earnings and various measures of cash flow, Findings indicate that Correlations between traditional cash flow measures and alternative CF measures that incorporate more extensive adjustments are low, 2nd the correlations between alternative measures of CF and earnings are, while the correlations between traditional measures of CF and earnings are high. These first two results are consistent with earnings and alternative measures of CF that incorporate more extensive adjustments conveying different signals. Finally, for four out of five cash flow variables, the results are consistent with the hypothesis that random walk models predict CF as well as (and often better than) models based on other flow variables. An exception to this general result is that net income plus depreciation and amortization and working capital from operations appear to be the best predictors of cash flow from operations. Overall there results are not consistent with the FASBs statements that earnings numbers provide better forecasts of future cash flows than do cash flow numbers. Earlier additional information content of cash flows relies primarily on cross- sectional regression models relating both earnings and cash flows to security return metrics that assumes a uniform relation between earnings (cash flow from operations) and security returns across observations. Ali (1994) however, conditions the incremental information content of unexpected earnings and cash flows from operations on their magnitude with respect to price. It is found that changes in earnings (cash flows from operations) are not expected to persist and thus have reduced implications for returns. Cheng, Liu Schaefer (1996) investigated the Earnings Permanence and the Incremental Information Content of Cash Flows from Operations, findings suggest that the incremental information content of accounting earnings decreases, and the incremental information content of cash flows from operations increases, with a decrease in the permanence of earnings. Barth, Cram Nelson investigated the role of accruals in predicting future cash flows and findings proved that disaggregating earnings into cash flow and the major components of accruals significantly enhances earnings predictive ability, findings also showed relation between cash flow next year and current cash flow and each component of accruals is significant and has a sign consistent with prediction. One of two researchers has re examined the association between earnings forecast error and earnings predictability because there is evidence suggesting that deliberate earnings forecast optimism is not an effective mechanism for gaining access to managers information ( Eames et al. 2002; Matsumoto 2002) ,For earnings level to be an important control variable in examinations of the association between forecast error and earnings predictability, there must be associations between earnings level and both forecast error and earnings predictability. Numerous studies report an inverse relation between forecast error and the level of reported earnings ( Brown 2001; Eames et al. 2002; Eames and Glover 2002; Hwang et al. 1996). The association reflects both earnings shocks due to unanticipated events and earnings management. Dechow Dichev suggested a new measure of one aspect of the quality of working capital accruals and earnings, they illustrated the usefulness of analysis in two ways. First, they examined the relation between measure of accrual quality and firm characteristics. The nature of the accrual process suggests that the magnitude of estimation errors will be systematically related to business fundamentals like the length of the operating cycle and variability of operations. It was found that accrual quality is negatively related to the absolute magnitude of accruals, the length of the operating cycle, loss incidence, and the standard deviation of sales, cash flows, accruals, and earnings, and positively related to firm size. Results suggest that these observable firm characteristics can be used as instruments for accrual quality. This is important because the regression based estimation of accrual quality demands long time series of data and the availability of subsequent cash flows, which m akes it costly or infeasible for certain practical applications (e.g quality-of-accruals-based trading strategies). Second they illustrated the usefulness of analysis by exploring the relation between measure of accrual quality and earnings persistence. Firms with low accrual quality have more accruals that are unrelated to cash flow realizations, and so have more noise and less persistence in their earnings. Indeed, they find a strong positive relation between accrual quality and earnings persistence. Although the measure of accrual quality is theoretically and empirically related to the absolute magnitude of accruals, and Sloan (1996) documents that the level of accruals is less persistent than cash flows. Probing further, they found out that accrual quality and level of accruals are incremental to each other in explaining earnings persistence, with accrual quality the more powerful determinant. There are two widely held views regarding managements motivations to managing earnings and each has quite different implications for the predictive usefulness of the resultant numbers .One view is that earnings management is motivated by mangers attempt to sustain the overvaluation of the firms stock price and to enhance managers personal welfare by disguising the true underlying economic performance of the firm (opportunistic perspective). An alternative view is that managers manage earnings to reveal private value-relevant information about the future prospects of a firm (informational perspective). They shown that originally reported (managed) earnings of firms classified as managing earnings for opportunistic reasons are less predictive of future cash flows relative to the restated (unmanaged) numbers. Conversely, they find that originally reported (managed) earnings of firms classified as managing earnings for informational reasons exhibit greater predictive ability with respect to future cash flows relative to restated (unmanaged) numbers. (Badertscher , Collins and lys 2007). Theoretical and empirical work in accounting and finance has documented the importance of firm size when testing the information in security prices with respect to future earnings (Collins et al., 1987) and interested in assessing the information in security prices with respect to the predictive ability of earnings, their finding that price-based-earnings forecasts outperform time-series forecasts by a greater margin for larger firms than smaller firms is of direct interest here. Their result implies that firm-size may help to explain inter-firm differences in the predictive ability of quarterly earnings data and helps to motivate the consideration of firm-size as an independent variable in the current study. Foster et al (1984) report that firm-size independently explains a substantial portion of the variation in post announcement drifts in security returns due to potentially misspecified quarterly earnings expectation models. The magnitude of abnormal returns associated with good or bad news earnings signals is inversely related to firm-size Freeman (1987), speculates that these findings might simply be due to differential time-series properties of the earnings numbers of large and small firms-an uncontrolled factor in his research design-and calls for future research to examine the possibility. Bathke , Lorek Willinger ( 1989) found out differences in the auto regressive parameters of the Foster and Brown and Rozeff ARIMA models across firm-size strata . One-step-ahead quarterly earnings forecasts were generated by a set of best fitting time-series models. Their Tests also indicated that large and medium size firms generated one-step ahead forecasts that were significantly more accurate than smaller firms at the .05 level and they obtained similar predictive findings on the significance of the size-effect in a supplementary analysis of the non seasonal and volatile growth and inconsistent strata membership firms. ChengDana examined the persistence of cash flow components in predicting future cash and the findings were that the cash flow components from various operating activities persist differentially. They found out that the cash related to sales, cost of goods sold, operating expenses and interest persists a great deal into future cash flows; cash related to other has lower persistence; and cash related to taxes has no persistence and then they incorporated accrual components into persistence regression model and found that the persistence of cash flow components are generally higher than those of accruals; however, accrual components do enhance model performance, their findings are consistent with the AICPAs and financial analysts rationale for their recommendation that the financial effects of a companys core and non-core cash flows should be distinguished. Reference Ashiq Ali â€Å" Incremental information content of earnings , working capital from operations and cash flow † Journal of Accounting research†( spring 1994): 61-74 Robert M. Bowen, David Burgstahler, Lane A. Daley â€Å"Evidence on the Relationships between Earnings and Various Measures of Cash Flow † The Accounting Review, Vol. 61, No. 4 (Oct., 1986), pp. 713-725 Richard G. Sloan â€Å"Do Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings† The Accounting Review, Vol. 71, No. 3 (Jul., 1996), pp. 289-315. Kenneth S. Lorek and G. Lee Willinger â€Å"A Multivariate Time-Series Prediction Model for Cash-Flow Data† The Accounting Review, Vol. 71, No. 1 (Jan., 1996), pp. 81-102 Catherine A. Finger â€Å"The Ability of Earnings to Predict Future Earnings and Cash Flow† Journal of Accounting Research, Vol. 32, No. 2 (Autumn, 1994), pp. 210-22 C. S. Agnes Cheng, Chao-Shin Liu, Thomas F. Schaefer â€Å"Earnings Permanence and the Incremental Information Content of Cash Flows from operations† Journal of Accounting Research, Vol. 34, No. 1 ( Spring, 1996), pp. 173-181. Olsen, C. and J. Dietrich, Vertical Information Transfers: The Association Between Retailers Sales Announcements and Suppliers Security Returns, Journal of Accounting Research, Vol. 23, No. 3, pp. 144-166, 1985. Juan M. Rivera (1996) â€Å" Prediction Performance of Earnings Forecasts: The Case of U.S. Multinationals.†Journal of International Business Studies, Vol. 22, No. 2 (2nd Qtr. 1991), pp. 265-288. Patricia M. Fairfield Richard J. Sweeney Teri Lombardi Yohn â€Å"Accounting classification and predictive content of earning† The Accounting Review, Vol. 71, No. 3 (Jul., 1996), pp. 337-355. BALL, R R.WATTS â€Å"Some Time Series Properties of Accounting Income† Journal of Finance (June 1972): 663-82 Mary E. Barth, Donald P. Cram, Karen K. Nelson â€Å"Accruals and the Prediction of Future Cash Flows †The Accounting Review, Vol. 76, No. 1 (Jan., 2001), pp. 27-58 Michael J. Eames and Steven M. Glover â€Å"Earnings Predictability and the Direction of Analysts Earnings Forecast Errors †Accounting Review, Vol. 78, No. 3 (Jul., 2003), pp. 707-724. Patricia M. Dechow and Ilia D. Dichev â€Å"The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors †The Accounting Review, Vol. 77, Supplement: Quality of Earnings Conference (2002), pp. 35-59. Patricia M. Dechow and Ilia D. Dichev â€Å"The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors †The Accounting Review, Vol. 77, Supplement: Quality of Earnings Conference (2002), pp. 35-59. Brad Badertscher , Daniel W. Collins Thomas Z. Lys â€Å"Earnings Management and the Predictive Ability of Accruals with Respect to Future Cash Flows † Journal of finance, (2007) , PP 01-52. Allen W. Bathke, Jr., Kenneth S. Lorek, G. Lee Willinger â€Å"Firm-Size and the Predictive Ability of Quarterly Earnings Data † The Accounting Review, Vol. 64, No. 1 (Jan., 1989), pp. 49-68 C. S. Agnes Cheng Dana Hollie (1996) â€Å"The Persistence of Cash Flow Components into Future Cash Flows† Journal of finance, pp 1-32.

Contrastive Lexicology Essay

1. Lexicology and linguistics. Contrastive lexicology, object, aim, and tasks. 2. The history of contrastive lexicology, main units and terms. Ukrainian scientists, manuals, observing. 3. Language and vocabulary. The branches of Contrastive Lexicology. 4. Structural aspects of a word: External and Internal structure. Scientific methods to leant English and Ukrainian words in Comparison. 5. The semantic unity of a word. Polysemy: types of semantic component. Sema, Semema, semantic field. 6. The main scientific aspects: syntagmatics and paradigmatics in Contrastive lexicology. 7. Contrastive lexicology and Lexicography. 8. Structure of the vocabulary of modern English and Ukrainian. The main groups of words. Colloquial words, the main stock of English and Ukrainian Vocabulary. 9. Morphemic structure of a word. Morpheme. Allomorph. Morph. 10. English and Ukrainian principles to analyze word structure. Productive and unproductive morphemes. 11. Neologisms, Historicisms and archaisms, their place in English and Ukrainian vocabulary. 12. Etymology as a branch of Lexicology, objective and tasks. Etymological structure of English and Ukrainian vocabulary in comparison. Indo-European element. 13. Word-building in english and ukrainian. Affixation 14. Semantics as a branch of lexicology, its goals and tasks. 15. Etymological structure of English and Ukrainian vocabulary; borrowed and native elements; loan words, Etymological doublets and triplets. 16. Etymology: peculiar features of international words. International words in translation. 17. Denotative and connotative meaning of a word. Bilingual dictionaries in translating and interpreting. Printed and electronic dictionaries. 18. Word-formation: productive ways to derive words in English and Ukrainian: Composition. 19. Word-formation: reduplication, back-formation. 29. General ways to enrich English and Ukrainian vocabulary. Nonce-words, Euphemisms, word-groups with transferred meanings. 35. Semantics: Types of semantic component; the processes of Development and Change of Meaning in English and Ukrainian. 36. Semantics: Kinds of transference (based on resemblance and based on contiguity); broadening and narrowing of Meaning. 37. Synonyms in English and Ukrainian vocabulary; Hypheronyms and Hyponyms. The Dominant Synonyms. 38. Isomophism and allomorphism in contrastive lexicology as basic principles. Branches of Contrastive Lexicology. 39. English and Ukrainian idioms, phraseologisms, usage, way of interpreting. 1. Lexicology and linguistics. Contrastive lexicology, object, aim, and tasks. Lexicology is that part of linguistics which studies words, their nature and meaning, words’ elements, relations between words (semantical relations), words groups and the whole lexicon. LG is a branch of linguistics and has its own aims and methods of scientific research. Its basic task is to study and descript systematically the vocabulary in respect to its origin, development and current use. Linguistics is the scientific study of natural language. Linguistics is narrowly defined as the scientific approach to the study of language, but language can be approached from a variety of directions, and a number of other intellectual disciplines are relevant to it and influence its study. The Contrastive and Comparative LG – their aims are to study the correlation between the vocabularies of 2 or more languages and find out the correspondences between the vocabulary units. The task of Contrastive lexicology is â€Å"to compare linguistic accounts stated, within the same lexicological framework, of the lexical competence necessarily possessed by speakers of the two languages concerned†. Aim: To conduct a comparative-synchronic comparison of lexical items and events, to highlight common features in the lexicon of two languages. Explore lexical linguistic phenomenon (trends words) and discover the peculiarities of the national outlook. Object: lexical units of the two languages. Subject: different aspects (origin of word morphemic structure, lexical change trend values), phenomena or processes (common features). 2. The history of contrastive lexicology, main units and terms. Ukrainian scientists, manuals, observing. The term â€Å"Lexicology† first was introduced in the French D. Diderot and d’Alembert’s encyclopedia in 1765. However, as a separate part of Linguistics, Lexicology appeared relatively recently. At the beginning of 20 century, an American linguist Leonard Bloomfield thought that linguistics in general should not engage in semantics. Ukrainian scientists presented the Kiev and Kharkov school: Ðâ€"Ð »Ã ¾Ã ±Ã'‚Ð µÃ ½Ã ºÃ ¾, ГÐ ¾Ã »Ã'Æ'Ð ±Ã ¾Ã ²Ã' Ã'Å'Ð ºÃ ¸Ã ¹, Ðâ€"Ð °Ã ¹Ã ²Ã ¾Ã'€Ð ¾Ã ½Ã ¾Ã º, КÐ ¾Ã'€Ã'Æ'Ð ½Ã µÃ'†Ã'Å', БÃ'Æ'Ð ±Ã »Ã µÃ ¹Ã ½Ã ¸Ã º, КÐ ¾Ã ½Ã ¾Ã ½Ã µÃ ½Ã ºÃ ¾. The second half of 19 century. Stylistics, grammar, lexicology are contrastive . 3. Language and vocabulary. The branches of Contrastive Lexicology. Lexicography is the science and art of compiling dictionary. The first book published under the English title Dictionary was Latin-English Dictionary by Sir Thomas Elyot (1538). For a medieval scholar a dictionary was a collection of diction or phrases put together for the use of pupils studying Latin. One of the purposes of dictionary in medieval times was glossing texts and employing synonyms for them. Dictionaries are prepared to serve different practical needs of the people. A reader looks at the dictionary mainly from the following points of view: (1) as a reference book for different types of information on words e.g. pronunciation, etymology, usage etc. this may be called the store house function of the dictionary. (2) as a reference point for distinguishing the good or proper usage from the bad or wrong usage. This is the legislative or the court house function of the dictionary. Branches: The General LG – the general study of words and vocabulary. Linguistic phenomena and properties common to all languages are generally referred as language universals. The Special LG – is the LG of a particular language. That’s the study of and description of its vocabulary and vocabulary units. The Historical LG – the evolution of any vocabulary. It discusses the origin of various words, their change and development, investigates linguistics and extra linguistics forces. The object – its single elements, modifying their structure, meaning and usage. The Contrastive and Comparative LG – their aims are to study the correlation between the vocabularies of 2 or more languages and find out the correspondences between the vocabulary units. The descriptive LG – deals with the vocabulary of a given language at a given stage of its development. LG also studies all kinds of semantic grouping and semantic relations such as synonymy, ant onymy, homonymy, semantic fields. Meaning relations as a whole are dealed within semantics – the Study of meaning. 4. Structural aspects of a word: External and Internal structure. Scientific methods to leant English and Ukrainian words in Comparison. The word can be seen in terms of its internal and external structures. The external structure of the word – its its morphemic composition. It is considered in terms of free and bound morphemes. The Units of external structure are the structure of prefixes, suffixes, roots, foundations, and their combination of lexical items in two languages. The external structure of the word – is a study of Word Formation. Word Formation in English and Ukrainian language has much in common, and words often have similar structure. Considerable Amount of prefixes and suffixes are unique in two languages (writer; student; teacher – Ð ¿Ã ¸Ã' Ã'Å'Ð ¼Ã µÃ ½Ã ½Ã ¸Ã º; Ã' Ã'‚Ã'Æ'Ð ´Ã µÃ ½Ã'‚; Ð ²Ã'‡Ð ¸Ã'‚Ð µÃ »Ã'Å'), part of Ukrainian suffixes (suffix system and the Ukrainian language is much more developed and richer than Engl ish) has not derivational analogy in English (Ã' Ã ¾Ã ½Ã'†Ð µ Ã'â€" Ã' Ã ¾Ã ½Ã µÃ'‡Ð ºÃ ¾, Ã'…Ð ²Ã ¸Ã »Ã ¸Ã ½Ã ° Ã'â€" Ã'…Ð ²Ã ¸Ã »Ã ¸Ã ½Ã ºÃ °). Internal structure of words – its its meaning, views and values of its shades, are seing in part of lexicology called semasiology. Some words has quite clear phonetic motivation: buzz, splash, snore and Ð ´Ã ·Ã ¸Ã ¶Ã'‡Ð °Ã'‚Ð ¸, Ã'…Ð »Ã'ŽÐ ¿Ã °Ã'‚Ð ¸, Ã'…Ã'€Ð ¾Ã ¿Ã'â€"Ã'‚Ð ¸ – and the imitation of sounds of two languages (similar in nature) may be different Ukrainian people hear in snoring Ã'…Ã'€(Ð ¿Ã'€Ð ¸Ã ¼.Ã'€Ð µÃ ´. Ã'‚Ð ¾ Ð ½Ã µ Ã'â€"Ã' Ã º Ð ¿Ã'â€", Ð ° Ã'Æ'Ð ºÃ'€ Ð »Ã'â€"Ã'‚Ð µÃ'€Ð ¸ Ã'…Ã'€), and British people hear s..r. Distributive analysis – a method of language-based learning environments of all possible linguistic units, the words in the text (excluding notional side words).(e.g. man – Adj+N(boring man), work – V+Adv(to work slowly).) Analysis of the direct components – a unit of linguistic analysis by its representation as a nested hierarchy of elements from each ot her, forming a structure. Thus, in the case of non-governmental words we first distinguish two components – non /-governmental, as it is formed from the word non-government, then government / al, and finally govern / ment. Component analysis – a method of linguistic analysis of lexical units, lexical expansion and the value of the minimal semantic components and representation of lexical meaning (e.g. a nose – denotative – Ð ½Ã ¾Ã' , to nose connotative – Ð ¿Ã'€Ð ¸Ã ½Ã'ŽÃ'…Ð ¸Ã ²Ã °Ã'‚Ã' Ã' ). Transform analysis – is to change language unit into a unit with another structure without changing the content(e.g. to give help – to help; to play visit – to come). In the Ukrainian language you can determine the status characteristic phrases Ð ½Ã °Ã ´Ã °Ã ²Ã °Ã'‚Ð ¸ Ð ´Ã ¾Ã ¿Ã ¾Ã ¼Ã ¾Ã ³Ã'Æ' – Ð ´Ã ¾Ã ¿Ã ¾Ã ¼Ã °Ã ³Ã °Ã'‚Ð ¸ (Ð °Ã ºÃ'‚Ð ¸Ã ²Ã ½Ã ¸Ã ¹ Ã' Ã'‚Ð °Ã ½), Ð ° Ð ¾Ã'‚Ã'€Ð ¸Ã ¼Ã'Æ'Ð ²Ã °Ã'‚Ð ¸ Ð ´Ã ¾Ã ¿Ã ¾Ã ¼Ã ¾Ã ³Ã'Æ' (Ð ¿Ã °Ã' Ã ¸Ã ²Ã ½Ã ¸Ã ¹) there is no one-word expression. 5. The semantic unity of a word. Polysemy: types of semantic component. Sema, Semema, semantic field. The semantic unity of a compound word is often very strong. In such cases we have idiomatic compounds where the meaning of the whole is not a sum of meanings of its components, e.g. to ghostwrite, skinhead, brain-drain etc. In nonidiomatic compounds semantic unity is not strong, e. g., airbus, to bloodtransfuse, astrodynamics etc. Polysemy is the capacity for a sign (e.g., a word, phrase, etc.) or signs to have multiple meanings (sememes), i.e., a large semantic field. Types of Semantic Components: The leading semantic component in the semantic structure of a word is usually termed denotative component. The denotative component expresses the conceptual content of a word.(e.g. lonely, adj. – alone, without company , to glance, v.- to look). It is quite obvious that the definitions only partially and incompletely describe the meanings of their corresponding words. They do not give a more or less full picture of the meaning of a word. To do it, it is necessary to include in the scheme of analysis additional semantic components which are termed connotations or connotative components. Grammatical meaning is a meaning which comes to the fore in the words with different lexical meaning, and brings them into one row: apples, tables, books, birds – grammatical meaning of plurality; was, went, ate, did, slept, knew – grammatical meaning of past tense. Lexical meaning – is a meaning which combines different grammatical forms of a word into one paradigm: to be, was, were, been, is, are; apple, apples, apple’s. Seme – an elementary semantic feature, a minimal unit of meaning. Sememe – a set of semes recognizable in a given word. A semantic field is a technical term in the discipline of linguistics to describe a set of words grouped in a certain way. 6. The main scientific aspects: syntagmatics and paradigmatics in Contrastive lexicology. Syntagmatics – linear (simultaneous) relationship of words in speech as distinct from associative (non-simultaneous) relationship of words in language. Paradigmatics – 1) associative (non-simultaneous) relationship of words in language as distinct from linear (simultaneous) relationship of words in speech (syntagmatics); relation of units in absentia (e.g. synonymic, antonymic relationships); 2) an approach to language when the elements of its system are regarded as associated units joined by oppositional relationship.Word-meaning in syntagmatics and paradigmatics Intralinguistic relations of words are basically of 2 types: syntagmatic and paradigmatic. Syntagmatic relations define the meaning the word possesses when it is used in combination with other words in the flow of speech. Paradigmatic relations are those that exist between individual lexical items which make up one of the subgroups of vocabulary items (sets of synonyms, lexico-semantic groups, etc.). Syntagmatic relations Paradigmatic relations He got a letter. I received a note. She obtained an epistle. 7. Contrastive lexicology and Lexicography. Lexicology is that part of linguistics which studies words, their nature and meaning, words’ elements, relations between words (semantical relations), words groups and the whole lexicon. The Contrastive LG – is a branch of lexicology. Its aim is to study the correlation between the vocabularies of 2 or more languages and find out the correspondences between the vocabulary units. Lexicography is an important branch of linguistics which covers the theory and practice of compiling dictionaries. Lexicography is divided into two related disciplines: Practical lexicography is the art or craft of compiling, writing and editing dictionaries. Theoretical lexicography is the scholarly discipline of analyzing and describing the semantic, syntagmatic and paradigmatic relationships within the lexicon (vocabulary) of a language, developing theories of dictionary components and structures linking the data in dictionaries, the needs for information by users in specific types of situati on, and how users may best access the data incorporated in printed and electronic dictionaries. 8. Structure of the vocabulary of modern English and Ukrainian. The main groups of words. Colloquial words, the main stock of English and Ukrainian Vocabulary. Compiling the dictionary included a conceptual framework of its own language (lexical, grammatical), and sociolinguistic aspects are closely interrelated. Most vocabulary words gives the collection of one or another language in alphabetical order. There are dictionaries in which words are represented nested system, it means that in a lexical article are all derived words derived from one root word. There are even inversion dictionaries – in the words given them by letter words end.The whole of the word-stock of the English language can be divided into three main layers: the literary layer, the neutral layer and the colloquial layer. The literary and colloquial layers contain a number of subgroups each of which has a property it shares with all the subgroups within the layer. The aspect of the literary layer is its markedly bookish character. The aspect of the colloquial layer is its lively spoken character which makes the layer unstable. The aspect of the neutral layer is its universal character. That means it is unrestricted in its use. It can be used in all styles of the language. It is this feature that makes the layer the most stable of all. The subgroups of the special literary vocabulary are the following: terms, poetical words, foreignisms and barbarisms(non-assimilated words that are known to everyone(tet-a-tet, Ð ¼Ã µÃ'€Ã' Ã'â€" Ð ±Ã ¾Ã ºÃ'Æ'), archaic words(woe (sorrow), nigh (near)), nonce-words. The subgroups of the special colloquial layer are such: dialectical words, vulgarisms, slang, jargon, professionalisms, nonce-words. 9. Morphemic structure of a word. Morpheme. Allomorph. Morph. The morpheme is the smallest meaningful unit of form. A form in these cases a recurring discrete unit of speech. Morphemes occur in speech only as constituent parts of words, not independently, although a word may consist of single morpheme. Words that consist of a root and an affix are called derived words or derivatives and are produced by the process of word building known as affixation (or derivation). The root-morpheme is the lexical nucleus of the word; it has a very general and abstract lexical meaning common to a set of semantically related words constituting one word-cluster, e.g. (to) teach, teacher, teaching. Affixational morphemes include inflectional affixes or inflections and derivational affixes. Inflections carry only grammatical meaning and are thus relevant only for the formation of word-forms. Derivational affixes are relevant for building various types of words. They are lexically always dependent on the root which they modify. An allomorph is a linguistics term for a variant form of a morpheme. The concept occurs when a unit of meaning can vary in sound (phonologically) without changing meaning. It is used in linguistics to explain the comprehension of variations in sound for a specific morpheme. Allomorph is also defined as a positional variant of a morpheme occurring in a specific environment and so characterized by complementary description. Any concrete realization of a morpheme in a given utterance is called a morph. 10. English and Ukrainian principles to analyze word structure. Productive and unproductive morphemes. In most cases the morphemic structure of words is transparent enough and individual morphemes clearly stand out within the word. The segmentation of words is generally carried out according to the method of Immediate and Ultimate Constituents. This method is based on the binary principle, i.e. each stage of the procedure involves two components the word immediately breaks into. At each stage these two components are referred to as the Immediate Constituents. Each Immediate Constituent at the next stage of analysis is in turn broken into smaller meaningful elements. The analysis is completed when we arrive at constituents incapable of further division, i.e. morphemes. These are referred to Ultimate Constituents. The analysis of word-structure at the morphemic level must proceed to the stage of Ultimate Constituents. For example, the noun friendliness is first segmented into the ICs: [frendlÄ ±-] recurring in the adjectives friendly-looking and friendly and [-nÄ ±s] found in a countless number of nouns, such as unhappiness, blackness, sameness, etc. the IC [-nÄ ±s] is at the same time an UC of the word, as it cannot be broken into any smaller elements possessing both sound-form and meaning. Any further division of -ness would give individual speech-sounds which denote nothing by themselves. The IC(Immediate Constituents) [frendlÄ ±-] is next broken into the ICs [-lÄ ±] and [frend-] which are both UCs(Ultimate Constituents) of the word. Morphemic analysis under the method of Ultimate Constituents may be carried out on the basis of two principles: the so-called root-principle and affix principle. According to the affix principle the splitting of the word into its constituent morphemes is based on the identification of the affix within a set of words, e.g. the identification of the suffix -er leads to the segmentation of words singer, teacher, swimmer into the derivational morpheme – er and the roots teach- , sing-, drive-. According to the root-principle, the segmentation of the word is based on the identification of the root-morpheme in a word-cluster, for example the identification of the root-morpheme agree- in the words agreeable, agreement, disagree.By productive affixes we mean the ones, which take part in deriving new words in this particular period of language development. The best way to identify productive affixes is to look for them among neologisms and so-called nonce-words, i. e. words coined and used only for this particular occasion. Unproductive, non-affix morphemes that exist only in bound form are known as â€Å"cranberry† morphemes, from the à ¢â‚¬Å"cran† in that very word.

The Fundamentals of Annie Dillards Healing Vision Samples Essay Revealed

The Fundamentals of Annie Dillard's Healing Vision Samples Essay Revealed Annie Dillard's Healing Vision Samples Essay Features The most important purpose of this statement in the provider is internal to assess the business key and business success and stockholders and team of leader. On the flip side, visionary goals are objectives a company made a decision to attain later on. Reflect on the most critical ideas, event, and company statements that mold your whole business enterprise. In summary, a provider's vision statement is of extreme vital for the survival and growth of any sort of business. Annie Dillard's Healing Vision Samples Essay Help! Alpha also serves in the range of this vision. Mission statement indicates the precise function of the organization. Essentially a mission statement defines the appropriate aim and activities of the company which is extremely crucial for its vision. The Ultimate Annie Dillard's Healing Vision Samples Essay Trick Sustaining high b lood glucose levels can be damaging to overall well-being. Furthermore, people's vision centers on a specific cause, which can be eradication of a particular disease or some kind of human suffering. It gives a foundation for healing and directly influences ones capacity to fulfill the challenges caused by illness and chronic diseases. Consider a little bit of reading therapy for yourself as a way to cope with vision loss. The personal essay is among the most common sorts of writing assignment--and not just in freshman composition courses. You've collated a whole lot of info in your vision board. The dance-point system employs raw step values to set the grade. By making use of a vision board, obviously! Following that, you can make a decision as to what actions to takeknowing the complete assortment of alternatives you've got. It lowers the access to fresh food and water. There's no demand for changing clothes or distinctive equipment. The very first sub phase of granulat ion procedure is fibroplasia. Ok, I Think I Understand Annie Dillard's Healing Vision Samples Essay, Now Tell Me About Annie Dillard's Healing Vision Samples Essay! Ask these questions before going to sleep. Self examination is also crucial, as it assists in determining how much a man or woman is going to be focused on their hopes. If you're losing your vision, one of your best concerns might be the chance which you can no longer read. Instead, enable the questions to percolate in your thoughts. What's Truly Going on with Annie Dillard's Healing Vision Samples Essay To begin with I should ask where folks stand on capital punishment. Thus, it must be mentioned that hope functions as a force in our lives, and it's essential that folks possess it, because the challenges advanced by life cannot be overcome if hope isn't inculcated. It is vital that individuals observe their past and future aspiration to acquire their hopes alive. A lot of people tell themselves they can't visu alize or it doesn't get the job done for them. Top Annie Dillard's Healing Vision Samples Essay Secrets This essay will identify and talk about the vital structure and functions of main areas of the eye. There are not any side effects and it's scientifically explained. In contrast, without a personal vision, you could wind up in the stress cycle in which you experience more burnout and frequently feel like your efforts are wasted and lack meaning. With these examples, you're prepared to create your personal vision. What Everybody Dislikes About Annie Dillard's Healing Vision Samples Essay and Why Although, it's not simply the eye involved with vision, the brain also plays an integral part in how we see and interep the world. Later, angiogenesis occurs. Remind yourself that this process doesn't need to yield an ideal vision.

Simmons Surname Meaning and Family History

The specific etymology of the Simmons surname has been difficult for historians to establish. Several possible origins include: A patronymic surname derived from the Biblical name Simon or Simund, from the Greek form of the Hebrew name Shimon which meant hearkening or listening.A patronymic surname from the personal name Simund, meaning  victorious protector, from the Old Norse  sig, meaning  victory,  and mundr, or protection.  A possible evolution of the name Seaman, meaning navigator or sailor. SIMMONS was the 92nd most common American surname in the 1990 U.S. census but had fallen out of the top 100 common U.S. surnames by the time of the 2000 U.S. census. Surname Origin:  English, German and French Alternate Surname Spellings:  SIMOND, SIMMONDS, SYMONDS, SIMONS, SIMMANCE, SIMMENCE, SEMMENS, SEAMANS Famous People with the Surname SIMMONS Russell Simmons - co-founder of the pioneering hip-hop label, Def JamJean Simmons - English actressRichard Simmons - American fitness trainer Where is the SIMMONS Surname Most Common? The Simmons surname is most prevalent in the United States, according to surname distribution information from  Forebears, where it ranks as the 104th most common last name. It is also somewhat common in England (286th), Australia (342nd) and Wales (377th). Surname distribution maps from  WorldNames PublicProfiler  show the Simmons surname is especially common in the American southeast, including the states of South Carolina, Mississippi, Alabama, West Virginia, North Carolina, Georgia, Louisiana, Arkansas, and Tennessee. Genealogy Resources for the Surname SIMMONS Simmons Family Crest - Its Not What You ThinkContrary to what you may hear, there is no such thing as a Simmons family crest or coat of arms for the Simmons surname.  Coats of arms are granted to individuals, not families, and may rightfully be used only by the uninterrupted male-line descendants of the person to whom the coat of arms was originally granted. SIMMONS DNA ProjectMore than 300 members have joined this project for the Simmons surname (and variants such as Simons) to  work together to find their common heritage through DNA testing and sharing of information. SIMMONS Family Genealogy ForumThis free message board is focused on descendants of Simmons ancestors around the world. Search the forum for posts about your Simmons ancestors, or join the forum and post your own queries.   FamilySearch - SIMMONS GenealogyExplore over 8  million  results from digitized  historical records and lineage-linked family trees related to the Simmons surname on this free website hosted by the Church of Jesus Christ of Latter-day Saints. GeneaNet - Simmons RecordsGeneaNet includes archival records, family trees, and other resources for individuals with the Simmons surname, with a concentration on records and families from France and other European countries. The Simmons Genealogy and Family Tree PageBrowse genealogy records and links to genealogical and historical records for individuals with the Simmons surname from the website of Genealogy Today. Ancestry.com: Simmons SurnameExplore over 6.8  million digitized records and database entries, including census records, passenger lists, military records, land deeds, probates, wills and other records for the Simmons surname on the subscription-based website, Ancestry.com----------------------- References: Surname Meanings OriginsCottle, Basil.  Penguin Dictionary of Surnames. Baltimore, MD: Penguin Books, 1967.Dorward, David.  Scottish Surnames. Collins Celtic (Pocket edition), 1998.Fucilla, Joseph.  Our Italian Surnames. Genealogical Publishing Company, 2003.Hanks, Patrick and Flavia Hodges.  A Dictionary of Surnames. Oxford University Press, 1989.Hanks, Patrick.  Dictionary of American Family Names. Oxford University Press, 2003.Reaney, P.H.  A Dictionary of English Surnames. Oxford University Press, 1997.Smith, Elsdon C.  American Surnames. Genealogical Publishing Company, 1997.