Brief of Methodology Techniques

All research methodology is made up of a combination of qualitative and quantitative constructs. The idea of the qualitative quantitative research continuum, as opposed to a dichotomy, is explored on scientific grounds. What are known as qualitative methods are often beginning points, foundational strategies, which often are followed by quantitative methodologies. Qualitative Research.The qualitative, naturalistic approach is used while observing and interpreting reality with the aim of developing a theory that will explicate what was experienced. In their Handbook of Qualitative Research, Denzin and Lincoln (1994) acknowledge that â€Å"Qualitative research is multi-method in focus, involving an interpretive, naturalistic approach to its subject matter. This means that qualitative researchers study things in their natural settings, attempting to make sense of, or interpret, phenomena in terms of the meanings people bring to them.Qualitative research involves the studied use and col lection of a variety of empirical materials–case study, personal experience, introspective, life story, interview, observational, historical, interactions, and visual texts –the described routine and problematic moments and meanings in individuals' lives†. (p. 2) Qualitative data are defined by Patton ( 1990) as â€Å"detailed descriptions of situations, events, people, interactions, observed behaviors, direct quotations from people about their experiences, attitudes, beliefs, and thoughts and excerpts or entire passages from documents, correspondence, records, and case histories† (p.22 ). Techniques of qualitative research are Interviews, Observation, Case study, and Action research. Interviews Qualitative interviews have been responsive to the potentially invasive impact of researchers on the research process as the researcher is the primary research instrument. Observation Observation as a design feature is to attain depth of meaning from the data (i. e . , what seems salient in the setting). The researcher focuses in detail on the most pertinent factors in an ethnographic study. Case study The case-study method is one more design approach under the qualitative rubric.Case studies can be single-subject designs or based on a single program, unit, or school. Merriam (1988) describes that case-study research, begins with translating the research question into more specific and researchable problems, followed by techniques and examples of how to collect, organize, and report case-study data. Action Research Action research is used here to refer to ways of exploring professional experience which link practice and the analysis of practice into a single productive and constantly developing sequence, and which link researchers and research participants into a single community of involved colleagues.Winter (1996) explains that â€Å"action research is seen as a way of investigating professional experience which links practice and the analy sis of practice into a single, continuously developing sequence† (p. 13). Quantitative approach The quantitative approach is used while one begins with a theory (or hypothesis) and tests for confirmation or disconfirmation of that hypothesis. Quantitative research is often referred to as hypothesis-testing research (Kerlinger, 1964). Typical of this custom is the following common pattern of research operations in investigating, for instance, the effects of a treatment or an intervention.Techniques of quantitative research are Surveys, Interviews, Questionnaires, Sampling, and Triangulation. Surveys Data are collected, typically either by interview or by questionnaire, on a group of variables. The objective then is to observe patterns of relationship between the variables. Unlike experimental research, the researcher does not intercede in the organization and observe the effects of the intervention. Information is collected on a number of variables, and the amount to which they are causally linked has to be inferred.Interviews Quantitative researchers pretest their instruments to reassure the quality of their data. They ransack other researchers' scales and theories to inform their theoretical understanding of the fundamental factors that may be present. They do long interviews and focus groups to try to get into the points of view of those living through the situations they are analyzing. Questionnaires These are collections of questions that the respondent completes on his or her own. Sampling The sample of subjects is drawn to replicate the population.After the pretest measures are taken, the treatment conducted, and posttest measures taken, a statistical analysis divulges findings about the treatment's effects. To support repeatability of the findings, one experiment typically is conducted and statistical techniques are used to establish the probability of the same differences occurring over and over again. Triangulation Triangulation might be looked at as a dependability check–but not always. It is possible that one source of data could be much more significant than other sources in understanding a particular phenomenon.Generally, though, the more sources one looks at the more expected one is to have a complete perception of the phenomenon. Sampling Techniques: Random or Probability Non-random or Non-probability Random or Probability techniques are Simple random sampling, Systematic random sampling, and Stratified random sampling. Simple random sampling In simple random sampling, all subject within the sampling frame has an equal chance of being selected. This equal chance is consummate through a total randomness of selection.Systematic random sampling In systematic sampling, instead of drawing sample subjects randomly from the sampling frame, systematic sampling draws subjects at different intervals along the list of subjects in the sampling frame. Stratified random sampling An approach that increases the probability of obtaining a representative sample yet avoids missing an significant subgroup is to draw a stratified sample. With stratified sampling, the sampling frame is first separated into subgroups based on a variable that is considered important.Non-random or Non-probability is Cluster sampling, Quota sampling, Purposive sampling. Cluster sampling In cluster sampling, instead of individual subjects, logically occurring clusters, or groups, of subjects are used as the essential units of sampling. Purposive sampling With purposive sampling (also known as judgmental sampling), subjects are selected based on the researcher's knowledge of the population and on the nature of the research. The researcher uses subjects as the sample who are judged as â€Å"typical† or â€Å"representative† of the population of interest. Quota samplingThis type of non probability sampling is quota sampling. Quota sampling contains features of both stratified sampling and purposive sampling. In quota sa mpling, variables that are indomitable to be significant to the research question are identified. These variables are usually demographic variables such as gender, socioeconomic status, ethnicity, age, and urban versus rural residency. Conclusion The qualitative-quantitative research methodology is supported scientifically by its self-correcting feedback loops. In each and every research study, the continuum operates.When one conceptualizes research this way and uses the integral feedback mechanism, positive things happen that are less probable to occur in a strictly qualitative or a strictly quantitative study. Work Cited Merriam S. B. (1988). Case study research in education: A qualitative approach. San Francisco: Jossey-Bass. Stake R. E. (1981). â€Å"Case study methodology: An epistemological advocacy†. In W. W. Welch (Ed. ), Case study methodology in educational evaluation: Proceedings of the 1981 Minnesota Evaluation Conference (pp. 31-40).Minneapolis: Minnesota Researc h and Evaluation Center. Denzin N. K. , & Lincoln Y. S. (Eds. ). (1994). Handbook of qualitative research. Thousand Oaks, CA: Sage. Patton M. Q. (1990). Qualitative evaluation and research methods (2nd ed. ). Newbury Park, CA: Sage Publications. Kerlinger F. (1964). Foundations of behavioral research. New York: Holt, Rinehart & Winston. Winter, R. (1996). Some principles and procedures for the conduct of action research. In Zuber-Skerritt, O. (Ed. ) Action research for change and development. Aldershot: Gower-Avebury.

Ivan Ilyitch and Wasted Lives Essay

The stories dealt with in this paper seek happiness in the wrong places. They stress the failures of modern life, the falsity of success and the elusiveness of happiness when it is not grounded in virtue. Virtuous and simple living are the last things to be discussed in these stories, but happiness is searched for according to the easiest and most sensual manners possible. Modern society has failed to bring happiness and fulfillment, and these stories speak as to why. What is terrible about modern life is the definitions of happiness and fulfillment based on money and social standing. It is roundly condemned by journalists and moralists, but remains as powerful as ever as motivating factors in behavior. In Tolstoy’s famous Death of Ivan Ilyitch, the film’s hero, Ivan, is a lawyer, a member of the prestigious judicial council (127) who has recently taken ill, as lies in his last few hours considering his life. His main concern throughout his life is what Tolstoy calls comme il faut, that is, the maintaining of appearances regardless of circumstances. Even his marriage was based on social standing and on the opinions of high society, rather than love (130). In â€Å"The Necklace,† the young woman wants the necklace that nearly destroys their life solely so that she will look like a successful person at the party given by the Ministry of Education. It ends in disaster as the necklace is lost. After being passed over for several promotions, Ivan was sent to a remote outpost in â€Å"the country,† where he quickly fell into boredom and ennui. He then left his family to go back to his Petrograd post, because high society is the only place he felt comfortable. His social cues came from that society. After falling while decorating his house–decorating solely for the approbation of the same society–he developed what appears to be cancer, and quickly died, mirroring the life and death of Aurora in Terms. The will cannot bring happiness and human life often has a rhythm of its own that cannot be controlled by the state, social institutions or an overprotective mother. It is in this interval that he meets Gerasim, a simple peasant without pretense or guile, the opposite of Ivan (148). Gerasim was Ivan’s assistant when he was ill. Gerasim cared not for society, but for the simple hard work that typified the peasant. He was a â€Å"natural† man rather than Ivan, the â€Å"artificial† one. But in Chapter IX is where a â€Å"voice† begins to speak to Ivan, speaking to him about life. Happiness is based on simplicity, not on the worship of the status quo and the domination of social norms. The artificial world of high society was not joyous, but merely a set of obligations. â€Å"And that deadly official life, and anxiety about money and so for one year, and two, and ten, and twenty, always the same thing† (157). But this was the life of success, of high society, of the elite: and it failed to make Ivan happy. The move from childhood, with its simple joys, to that artificial world of elite adulthood was correlated with the falsity of his happiness and the deadening of joy. This is also to be seen in â€Å"Araby,† where children are the only ones left with imagination as they come of age. The complex and hypocritical world of high society deadened him and his life. This story about a dying man looking at his life seems to be well read, but never heeded. Ivan is all of us who equate success with money and social standing, who view childhood as â€Å"trivial† and the approbation of institutions as central. Ivan conformed his entire life, from his marriage to political views, around what was dominant in high society. In this process, he was successful, but not happy. If anything, the two concepts exist in an inverse relation. Success in modern life is not a happy life. It is unhappy because ultimately, it is one set of obligations after another. Money is always a problem–investments, the market, inflation, taxes, economic cycles all contribute to the anxiety of all but the most wealthy of moderns. Social life, as in Ivan, is a bore, with a set round of obligatory social relations and gatherings, all of which seem to set the â€Å"success† class apart from the commoners. But Ivan, through the example of Gerasim, sees that the simple peasant, the agriculturalist, without the social obligations of the Petrograd lawyer, is happy, joyful and finds a great deal of satisfaction in labor and its invigorating aspects so common in farm work. But labor, in modern life, is something to be avoided rather than embraced and farm work is seen as â€Å"backward† in the prejudice of moderns. In the film Terms of Endearment, the parallels are subtle, but present. Aurora is the protective mother, always concerned for the ultimate happiness of her daughter, Emma. Once’s Emma’s first romance fails, and Aurora seems pushed out of her life, the latter finds romantic comfort with a married, â€Å"successful† man, a banker, Sam Burns. At the same time, Aurora, after remaining sexless for many years, has a whirlwind relationship with an ex-astronaut, Garrett Breedlove. It is hard to see the placement of the false society here, as is the case with The Necklace and A Good Man. Both Emma and her mother live within the false society of modern life, believing that sex and finding the â€Å"right† man will bring happiness. Virtue is not mentioned, nor the life of the mind, but happiness is defined solely in respect of an other, a romantic, sexual relationship that is supposed to make people happy. Both characters, Aurora and Emma, are trapped and the free sex that exists throughout the movie is a conformist device, not a rebellious one. If anything, the fact that Aurora dies of cancer tells her that happiness cannot be found in this life, for even if Aurora was right all along, and Emma was her best friend, she still would have died a miserable death. Having sex with the drunken Breedlove has changed nothing. This film seems to be a set of negative examples: overprotection does not lead to protected children, and sex does not lead to happiness, nor does romance. If anything, it is a veiled attack on the modern obsession with the sexually carnal, that promises pleasure and happiness but usually ends with emptiness. Such is also the final scene in â€Å"Araby,† where the fair itself, symbolizing all sexual and sensual, is a disappointment. The build up the young boy has created in himself was far too high for actual reality. Sex is modern life is often considered this Holy Grail of acceptance that often leads to disappointment. The Necklace, a short story by Guy de Maupassant, has far more parallels with Tolstoy than Terms. The single reality is that the necklace is part of the world of falsity within which Ivan and his ilk live. The very fact that the necklace itself is a cheap fake is part of the scheme–it matters not if the object is genuine, it does its job of making the world think that you belong and that you’re part of the â€Å"successful† club. The obligation that Ivan finds in his life is mirrored in the couple’s having to work for a decade to repay the alleged price of the genuine necklace, which never even existed. The necklace is the ultimate attack on the falsity of â€Å"successful† life–the necklace exists solely to convince others of something, but it is not even real. At the same time, the labor that has gone into paying for the non-existent real necklace speaks of the waste and profligacy of the wealthy, who normally pay huge sums for such trinkets, and call it happiness or success. The young boy in â€Å"Araby† though that his love interest and the fair at Araby would provide this. All these sorts of things provide is emptiness. â€Å"A Good Man is Hard to Find† is a far more subtle work, centering around a self-centered grandmother that speaks of The Misfit, a killer who is allegedly making his way though to Florida, where her family wants to go on vacation. The family eventually makes their way to Tennessee where, in an accident caused by a hidden cat, the disabled car is sat upon by the Misfit and his group, who eventually murders the entire family when the grandmother yells out that the Misfit is here, hence, necessitating the Misfit’s murder of his identifiers. There is a hint that the Misfit is in fact the grandmother’s son, and the grandmother, possibly attempting to save her own life, attempts to calm of Misfit by touching him, which leads to a scene where the murderer hesitates, but soon steps back to shoot her. It seems that Terms and Good man are highly parallel, showing an overprotective parent seeking happiness in all the wrong places. Where The Necklace and Ivan are centered around the concept of falsity and the lies and hypocracy of modern life and its arbitrary definition of â€Å"success. † All four are concerned with happiness broadly speaking, but only Tolstoy holds out the hope for any real happiness, a happiness that can only be gained by simplicity and a return to the land. Modern behaviors cannot understand this.

American Education And William A Henry Education Essay

American Education And William A Henry Education Essay In America today we believe that everyone should be educated and seek some form of higher education. We also believe that everyone should be entitled to the same educational opportunities and given every chance to become a productive member of society. Because of these beliefs it has made us the strong democratic country that we are today. In William A. Henry III’s essay â€Å"In Defense of Elitism† he believes that everyone should not be given the same educational opportunities; because he believes that not everyone is competent enough to make it in college. Henry thinks that a college education should only be offered to an elite few. He believes that if America would follow his method then the educational standards would rise and make college more prestigious. Henry believes that too many students in college today are only there to make more money in the future and he believes that this is the wrong reason to seek a college education. Because of this it is creating a tremendous downfall in our education system. Henry is not alone on this belief. Benjamin R. Barber shares this same belief in his essay â€Å"America Skips School.† Barber also agrees with Henry in the belief that there should be a very distinguished line separating vocational and academic education. Even though they share some of the same beliefs, they begin to clash when it comes to their ideas of improving America’s education system. Barber believes that we have failed to educate our youth. We have created a money hungry generation and by not allowing them to go to college will taking away the only opportunity they have to become well educated and a productive member of society. Barbers ideas and beliefs outweigh those of Henry, because he realizes the need and importance to have well educated citizens in order to preserve and strengthen the strong democracy that America has worked so hard to achieve. William A. Henry criticizes America’s views on education. He thinks that having this egalitarian outlook is degrading our educational values and taking away from the hard work and accomplishment of getting a college degree these days. Henry backs up his point by stating that there are too many students enrolled in college and eventually the standards and requirements for college will drop. Henry believes that it’s normal for your average young adult to receive a college degree and the prestige of possessing one is no longer there. Ultimately, he thinks we have allowed too many people who are unqualified to receive a college degree. Henry would like to see elitism brought back to America’s education system. Therefore he proposes that we reduce the number of high school students who go on to college by giving every senior a standardized test and shutdown down schools depending on the students performance. Henry thinks that every student is ultimately responsible for their own future and eventually they have to step up and take responsibility for their own actions. By separating the ones that care about their education from the ones that don’t will restore our education..

Marketing Essay Example | Topics and Well Written Essays - 250 words - 7

Marketing - Essay Example b) Discuss NASCAR’s multi-avenue promotions used to deliver the NASCAR experience. NASCAR runs promotions through various channels and partners. For communication they use several social networking sites and for advertising NASCAR are associated with several brands through merchandise too. Certain brand associations include 3M -- Official Partner, Bank of America -- Official Bank, Camping World -- Official Outdoor and RV Retail Partner, Canadian Tire – Official, Automotive Retailer of NASCAR in Canada, Chevrolet -- An Official Passenger Car, Cintas -- The Preferred Uniform Supplier, Coca-Cola -- Official Non-Alcoholic Beverage, Official Soft Drink, Official Sport Drink, Official Energy Drink, Coors Light -- Official Beer, Craftsman Tools -- Official Tools, Diageo -- Proud Sponsor, Dodge -- An Official Passenger. â€Å"Because of its huge popularity, NASCAR sponsorship is attractive to advertising sponsors who are eager to gain exposure to a large number of race fans.

My Superhero Essay Example | Topics and Well Written Essays - 1000 words

My Superhero - Essay Example The paper has a detailed description of hero’s traits. His personal life was also very simple and modest. He does not wear expensive clothes rather he always used his traditional Indian dress i.e. Dhoti and Shawl. He was immensely impressed by the village traditions of India that endorsed self-sufficient behaviour. He used to be self-sufficient in every matter of life and preached others to do the same. He was a man of principles and due to this, he sometimes argued with the decisions of his other party members. After his success as a leader of India, he became very popular all around the world and he was described as a nonviolent person fighting for his nation’s rights. Many leaders like Martin Luther King in U.S. and Yasir Arafat in Palestine followed the footsteps of Gandhi and tried to free their community from the slavery of another nation. He can also be equally compared with other historical personalities like Abraham Lincoln, Mohammad Ali Jinnah, Dalai Lama and Mao Tse Tang. His first act after returning from South Africa is to lead the movement against the government for the cause of having reduced land taxes upon the Indian citizens. He used the method of nonviolence and civil disobedience in the subcontinent against British rulers. It was the era when there two world wars were fought. Millions of people were killed in these two wars all over the world. Most of the nations were running through the lines of hatred, violence and war. He was the one who developed the nonviolent technique to fight for rights. 3.1. Describe hero perspective of being an agent of change-maker His foremost contribution for his people was to force British colonizers to make an independent India. This describes him as a change maker in the world. It was an attempt made for the betterment of India and refrain from the domination of British people in India. His plan was to fight for freedom but through a non-violent movement. It was his best self core values that ev entually brought his nation independence in 1947 from the British colonial rule. This capability of Gandhi distinguishes him among all the freedom fighter around the world until the early 20th century. His non-violence behavior can be described by one of his sayings: â€Å"An eye for an eye makes the whole world blind†. He demonstrated violence as the most important problem in the world that is generating continuous problems for people. This can only be solved by its counter-part i.e. following the path of non-violence. This is the only mechanism, according to him, which can bring peace and harmony in the world. 3.2. Identify self core values His life is less theoretical but more practical, giving a perfect example of perfect personality. He always put ethical and moral principles in every matter of life. For example, once one of his disciples introduced the concept of industrialization programs in the villages of India but he disagreed to him publicly on the basis of self-su fficiency. According to him, industrialization is making people dependent upon another person, which will bring insecurity in the lives of people financially and socially. He also showed his concerns upon the issue of area of border at the time of

Community Paper Research Example | Topics and Well Written Essays - 750 words

Community - Research Paper Example 524 8,186,453 8,829,383 281,421,906 293,045,739 Source: http://oasis.state.ga.us/oasis/qryPopulation.aspx Population by RACE 2004 The newer books might have these listed as non-Hispanic, White etc. Feel free to change. (Newton) County Black Hispanic White Native Americans Asian Other # % # % # % # % # % # % 24,451 22.08 2,376 1.87 55,312 74.20 183 0.21 903 0.72 70 0.11 State of Georgia Black Hispanic White Native Americans Asian Other # % # % # % # % # % # % 2,612,936 28.48 598,322 5.32 5,862,978 62.65 27,457 0.22 229,741 2.10 11275 0.14 United States Black Hispanic White Native Americans Asian Other # % # % # % # % # % # % 2,349,542 28.7 35,305,818 12.55 194,552,774 69.13 2,068,883 0.74 10,123,169 3.60 467,770 0.17 LEVEL OF EDUCATION Age 25 + High School 13,601 34.75 1,486,006 28.65 52,168,981 28.63 Associates 1,610 4.11 269,740 5.20 11,512,833 6.32 Bachelors 3,715 9.49 829,873 16.00 28,317,792 15.54 Graduate 1,977 5.05 430,305 8.30 16,144,813 8.86 Source: http://quickfacts.census.g ov INCOME BY HOUSEHOLD (Newton) County Georgia United States Year 2000 2000 2000 # % # % # % 200,000 308 1.40 70,843 2.36 2,502,675 2.37 MEDIAN INCOME (Newton) County Georgia United States 2000 44,875 41,901 41,990 Source: http://quickfacts.census.gov HEALTH STATISTICS Legend: T=Total W=White AA=African American O=Other Ethnic Group Use the following two forms for Mortality and Morbidity rates that are specific to your target population. _ (Deaths and percent of deaths; SIDS) ____________MORTALITY RATE per 100,000 population ***Change years for your data if necessary!!!!** Georgia (Newton) County T W AA T W AA 2000 113 44 69 2 0 2 2001 112 60 51 1 0 1 2002 141 78 59 4 2 2 2003 104 50 54 2 1 1 2004 130 68 59 1 0 1 (Source: For US, Health United States, Statistical Abstract of the US, [will need several years], MMWR, Prevention Profile.) For GA/County, use Georgia Vital Statistics for the year requested. _ (Sexually transmitted disease cases and rate) ____________ MORBIDITY RATE per 1 00,000 populations Georgia (Newton) County T W AA T W AA 2000 52,642 5,006 30,015 216 38 124 2001 53,258 4,795 25,479 296 47 147 2002 55,347 5,916 31,868 347 62 175 2003 55,624 6,239 30,802 380 63 202 2004 52,388 5,277 26,340 371 42 157 (Source: For US, Health United States, MMWR, Prevention Profile, Local and State Health Departments, CDC) The focus of this paper is on AIDS as a community health issue in Newton County, the state of Georgia in the United States. There lacks a representative national system of surveillance of the prevalence of AIDS infections (Prachakul, Grant and Keltner,

Water in Africa Research Paper Example | Topics and Well Written Essays - 1500 words

Water in Africa - Research Paper Example s economy that was worth $35 billion in 2012 and estimated to grow by 8 percent in 2013(more than sub-Saharan African average for sixth year straight) will not continue to grow at the estimated rate without modern water network(Dzawu). In sub-Saharab Africa, cost of water shortages and lack of sanitation is estimated to be 5 percent of its annual GDP (Dearn).This research paper examines Africa’s water and sanitation crisis and major reason behind it and finds that Africa’s water crisis is the precursor of global water crisis, as a result, privatization may seem to be the only solution, but long term management and planning is the key to regulate it. It is interesting to note that Ghana is now politically stable and conducting peaceful elections since 1992. Its economic strengths are associated with gold, cocoa, and oil, yet Ghana’s President, John Dramani Mahama, accepted that Ghana is facing a major energy and water crisis. Some of the major problems with water supply system are aging water pipes, some of which were installed in 1914.Moreover, even those pipes doesn’t reach expanding suburbs of Accra. The supply is not adequate for ever increasing demand. Due to the lack of investment in water sector for 50 years, state only deals with emergency situations. State-owned Ghana Water can’t explain for 55 percent of the water it produces because either water is illegally siphoned from pipes or pipes bursts due to damage by erosion or construction (Dzawu). Water shortages brought nationwide crisis in electricity production. Though the water shortages have always been there, but electricity production needs were met by gas, electricity crisis started when the West African Gas Pipeline collapsed in August 2012 which reduced the natural gas supply to fire thermal power plants. Water Company also needs electricity in order to maintain its treatment operations (Dzawu). According to Ghanaian a researcher, In order to run their operations, other companies often

Technological progress is a process of replacement and renewal, which Essay

Technological progress is a process of replacement and renewal, which implies for new technology to add value, it must make pre - Essay Example For instance, this was evidences in the 20th century when the agricultural technological process shifted the agrarian revolution to an industrial production workforce in the US. As a result of the progress, US farmers significantly lost their vocation as well as career even if the productivity per acre was enhanced dramatically and the production volume, which amplified with technology. In such situation, farmers are therefore what the industry would refer to as ‘tech-losers’. As the technology ubiquity spreads development worldwide, it usually establishes two categories of people: tech-winners as well as tech-losers. Tech-losers in most cases of cannot be incorporated into the changing technological environment. Many are the times they fear losing their jobs as well as their lifestyles as a result of technology progress (Sood and Tellis, 2005). This per evaluates the whole aspect of technological progress with a clear focus on the manner in which a manager would think a bout the situations if they occur in a mid-sized company. It also evaluates various ways in which managers might try to resolve the issues that arise in the process as well as the indicators that would guide them. Manager’s Perspective on Technological Progress Technological progress is a very paramount issue that managers often evaluate in their companies. Often, with technology surfacing at breakneck speed, it is becomes apparent that no single manager would predict what's around the next corner. More importantly, a particular type of technology has to be forgotten if innovations are made. Nevertheless, life circle remains constant. Usually, when a novel high-tech establishment is born, the older one has to die. Sood and Tellis (2005).established that at times, the loss is a good thing because it brings easier way of doing things as well as elevating companies’ profitability. Nonetheless, sometimes, the departure swirls bittersweet feelings especially if the IT emplo yees had been used to a particular mode of operations. As an IT/IS Manager, major concerns include embracing a system that do not lead to significant errors, curbing identity theft through hacking as well as enhancing workers cooperation among others. Often, IT managers in companies construe technological progress as a path which has one-dimensional as well as with milestones on it. Research indicates that managers agree that the process helps everybody to crosswise especially if one has the intellectual capacity to do so. However, they take this not to be an accurate description. For instance, taking into consideration a flat plane which has two dimensions and without milestones, one would notice that there are outstanding points of accomplishment spotted all over it. Overlay on such a flat surface would be a structure of a branching tree; which signifies culture's progress. Often, culture begins at some point in lieu of its preliminary conditions. Therefore, as it moves, it has to touch on some of the potentials on the flat surface but not all. This implies that is a possibility of getting a new technology which becomes successful replacing an old one. For instance, after innovation, Boeing 707

Research Paper Prospectus Essay Example | Topics and Well Written Essays - 1500 words

Research Paper Prospectus - Essay Example The major economic concepts to be used in this research include the use of IS-LM curve analysis and how the money supply affects different variables in the economy. Further, this research will also focus upon exploring as to how Fed has used different policy tools such as cutting discount rates, increasing liquidity through open market operations as well as other non-traditional tools. The overall expected outcomes of this research may suggest as to whether Fed has been able to exercise different monetary policy tools wisely or not and whether different steps taken have actually resulted into achievement of Fed’s objectives especially during current economic crisis. This book provides comprehensive coverage and explanation of macroeconomic topics including the one on monetary policy and role of Federal Reserve. The book is co-authored by current Federal Reserve Chairman and Nobel Prize Winner, Ben Bernanke. Chapters on money supply and Fed critically discuss the role of Fed, how it performs and how it interacts with the economy. The overall treatment of the topics, specially the role of money supply in IS-LM curve analysis has been well defined. Apart from this, book also focuses on the impact of money supply on the major economic variables such as inflation, growth and unemployment level. This reference is quite good for introductory treatment of important macroeconomics topics. This book offers elementary treatment of different macroeconomic topics. This reference is quite comprehensive however, in discussing different topics of monetary economics at undergraduate level. Further, this book offers a critical insight into the impact of economics on the individual as well as government level choices. As such this reference provides a critical view of how the steps taken by Fed are going to have an effect on the consumers as well as government. This book further discusses

Khat Research Paper Example | Topics and Well Written Essays - 1000 words

Khat - Research Paper Example They are likely to smoke cigarette and drink alcohol as compared to the non-user c counterparts. More youth are using khat, and they can be categorized demographically as between ages of 15 and not exceeding twenty five years of age. This group has male and female drug users. Demographic data in relation to the age, gender and level of education can be used to describe the use of khat in African countries. The table below summarizes the khat drug use: (Al†Hebshi & Skaug, 2005). According to Al†Hebshi & Skaug, 2005, statistics show that in Africa, the female and male youth have insignificant differences in the percent drug users at the same educational level. School going youth below the age of twenty years are the majority consumers of khat as compared to those in college with over 20 years of age. It is shown that khat use is high among the urban poor and those in informal settlements, suburbs, the illiterate, and those in informal employment. Majority of the users tend to consume khat on daily basis, the least number are the monthly users. That is: The usage patterns and trends therefore show that khat is highly addictive and use can lead to dependence. Many consume the drug on daily basis. Eighty seven point seven percent is significantly huge value. The effects, signs and symptoms vary. They can be categorized as short term and long term effects. Nencini, P., Ahmed, A. M., & Elmi, A. S, 1986) argue that short term effects include: irritability, a feeling of excitement, euphoria, physical exhaustion, difficulties in breathing, constipation, increased heart rate and blood pumping, hallucinations, feeling of hyperactivity, manic behavior, increased alertness and concentration as well as increased motor activity. Long term signs and symptoms due to khat use include: Anorexia, gastric disorders, depression and elevated stress levels, heart diseases and cancer, tachycardia, liver complications and damage, cardiac complications among

The general conditions of the body or mind Essay Example for Free

The general conditions of the body or mind Essay If my interviewer doesnt the right amount, she is certainly to be in danger. She is already very skinny, and eats lots of junk food. She says she doesnt like to eat lots of healthy stuffs because since she was little, she has been brought up to eating junk food and the though of eating healthy all the time, puts her off, and she says she cant stand vegetables. Its very hard for her. She needs to eat all of the above in order to say healthy and from not getting disease or cancers. There are lots of sort of infections, viruses, diseases or illness that can happen if one doesnt eat the type of food in their diet. Environment: Everyone needs a good environment. If she doesnt have a nice and clean environment, then she also has to have an unhealthy way of living and life. In order to have a happy, healthy and well being environment we need to have clean water and air, proper waste disposal facilities (toilets) and good housing qualities. Other environment factors that affect well being are, where we live, how much money we get (if we have a job) and the sort of job that we have. If we dont have a proper disposal facility, it will lead to all sort of uncomfortable infections and diseases. Housing: Everyone needs to have a good house in order to stay clean, healthy etc. If the house is overcrowded, damp, no central heating or poor disposal facilities, we do not have a good house. In may cause illness to people. Cold and damped houses can give people asthma, bronchitis, and arthritis. If the house is overcrowded it can lead to infections like tuberculosis and dysentery. It also depends on where a person lives, if they live in the countryside or somewhere isolated, they can be depressed often and have a bad self-esteem. Education: This is very important. It affects a persons outlook on life, they way they treat people (their manners), how they look, their health and well-being. With a good education, it can get you a good job or occupation. Good education has a positive impact on the life chances and the health outcomes to an individual. If people want a good job, good house, good everything, they have to work for it, by getting good grades and achieving to their highest standard. Employment: Having a good job and sort of job you have is very important. It needs to be a job you like doing. If it isnt then it wont be very fun and you might depress. If you have a good education, you will have a good job. An employed person uses the skills, knowledge and expertise which the person has already gained and has the opportunity to acquire new skills. It also gives you the opportunity to explore the outer world and get new friends, or learning new things in life. Work gives you confidence and self-esteem. People respect you and your ideas. And the better the job the better the money to keep you or the family happy and healthy. Some people need a job desperately, in order to buy food or to stay alive. Rest and Sleep: When you are young, you need a lot of sleep and rest. This gives the heart and body time to relax and not to be stressed out and working. If you deprive sleep, you lose lots of energy and have a quick and high temper, like you want everything to go your way. Mistakes can occur a lot, because when you are tired, you cant concentrate. You also loose attention to your surrounding and you seem to be dreaming a la la land. You also seem to have a few minutes ever time you see that the coast is clear, then wake up, feeling more tired. You also feel confused, because you are paying more attention to seeing yourself in a nice and warm bed and listen9ing to what other people say. And you have difficulty seeing and hearing. This is important, especially for a teenager because we need the sleep after a long time in school, and after being stressed out and tired. It helps us concentrate more in class. Friends: We all have and need friends. They are their top support and love us back. They are there to listen and help during problems. Choosing your friends can be very hard, when you move into a new area, you talk to who ever talks to you. Having bad friends, can influence you into the bad things in life and they some how always encourage you into doing the bad things, like not studying for an important test, stealing or having attitude problems. It also depend in the environment, if you live in a bad environment there is likely to be rough and troubling making groups.

To What Extent Does the Media Affect Body Image in Teens and Their Perception of Beauty Essay Example for Free

To What Extent Does the Media Affect Body Image in Teens and Their Perception of Beauty Essay There is no question that the Media has a massive impact on how we perceive ourselves, particularly when it comes to our beauty. From my own experience, I have questioned my own body due to articles in magazines promoting a slimmer body type to various audiences. We shape our opinions through what the Media tells us is right and wrong. For instance, women and young girls are judged highly on their weight and appearance where as men are judged more on their masculinity and muscularity. As the Media is a massive topic, I will focus on looking at magazines, in particular adverts, and how they portray beauty and how we then observe the Medias idea of ‘perfection’. I will also be looking at the effects of exposure to these magazines and adverts to teenagers; one particular focus will be the influences of the Media on Anorexia. â€Å"Low self-esteem contributes to a distorted body image, and the distorted body image cant be fully corrected until self-esteem issues are reconciled. If we don’t address the problem (the problem being the Media labelling a certain body type as perfect) then the issue of low self-esteem in women is never going to stop. Over 90% of people diagnosed with eating disorders are adolescent or young women, so why do young women and adolescents feel the need to go to these drastic measures to stay skinny? While the Media is not the only factor that can be contributed to the rise in Anorexia, it is a significant aspect. It’s no surprise that teenagers are obsessed with thinness and weight loss because of the way Media promotes a skinny figure to women through the constant images of celebrities’ bodies and also articles that talk about bettering our lives through our appearance. The Media promotes a skinny figure through constant articles in magazines on celebrities’ figures, for example, Star magazine has shown the same front cover advertising â€Å"45 best worst beach bodies† seven times. I believe that this is going to contribute to women having a negative body image as they constantly compare themselves to the celebrities in these magazines and deciding whether they have an â€Å"acceptable figure† due to the ones advertised as the â€Å"best†. Personally, I think it’s the mix of women’s obsession with celebrities and a low self-esteem that creates a negative body image. Approximately one in every one hundred teenage girls may develop an Eating Disorder. Body dissatisfaction is a reoccurring motif especially in women as they are constantly exposed to celebrities and advertisements from such a young age. I had to create a presentation to my peers based on my topic question earlier this year. I decided that I wanted to get real opinions on whether the content of these magazines were suitable for the magazines target audience. I gave them four popular girl magazines (Bliss, Mizz, Shout and Look), which girls ranging from 10-17+ were reading. I asked them to order the magazines from the lowest target audience to the highest, basing the order solely on the content of the magazines. Surprisingly, my peers put the magazines in the right order. However, they were still shocked by the audiences that these magazines were targeted at because the content of these magazines was not appropriate for children of that age. Bliss magazine, is initially targeted at girls aged 13-17; the class all said that â€Å"It was targeted at 16+ because of the ‘Stone’s style solutions’ that promote platform heels which aren’t appropriate for girls of 13 years. † Furthermore, Bliss magazine shows an article on ‘Pamper perfect’ showing young girls how to get the A-list look ‘without the A-list price tag. My peers decided that Bliss magazine is subtlety influencing young girls on how they can better themselves where as Look magazine, which is targeted at girls from 16-34; manipulate girls into changing their body to better themselves. This shows the diversity between magazines that are targeted at girls below 16 and those targeted at girls above 16. In both Bliss and Look magazine, they use a very slim model to advertise their clothes. Even though Bliss uses a teenage model and Look uses an adult, they both use a particular frame of woman. Mizz magazines’ target audience is from 10-14 years. Mizz’ articles, in my opinion, are suitable for the target audience because they don’t focus on celebrity lifestyle and focusing on a negative body image. Shout magazines’ seems to focus on females between 10-15 years. However, Shout magazine, targeted at females between the ages of 11-14, shows little articles involving models and looks more at celebrities and real life stories. As we live in a society, which is more obsessed with how we look, rather than what we do, it’s no wonder that women are both mentally and physically abused by the Media. This is a gut feeling of mine based on the content of agazines. From my own opinion, I see more articles congratulating celebrities on losing weight rather than their success in their career. How the Media advertises products and articles in magazines have a bigger affect on us than we initially think. On average whilst watching television, women come across around 400 to 600 adverts a day. In light of this, if in only 50% of the adverts we see thin models, then even this could have a negative affect on how we perceive our own body and also how we compare it to what the Media label as â€Å"perfect† which is usually undernourished models. By repetitively using the same figure of model, this will also stay in the sub-conscious mind of the audience. This technique of advertising is called subliminal messaging. When subliminal messages are first seen or heard, we are unable to identify what it is. In fact they may be ignored by the conscious brain and be beyond the level of conscious perception. A new study by Prof. Naomi Mandel, as sited in CBS News, has shown companies that feature normal size women, better known, as â€Å"plus-size† are less effective than those that use thin models. It also found out that overweight and normal-weight females have a lower self-esteem after seeing â€Å"plus-size† models in advertisements. I found these results quite interesting as I presumed that women who saw â€Å"plus-size† models would make them have a higher self-esteem because they have a similar body to the models in the advertisement. Additionally Jeremy Kees, a professor at Villanova University, believes that women expect to see beautiful women in advertisements, even if it makes them feel worse about themselves. In one of his studies, Kees found that even though the women felt bad about themselves after looking at the adverts, they evaluated that the brands were selling higher, and those ads which used average size models, their brands sales has decreased. Although, another source reported that women have lower levels of weight concerns after exposure to average and overweight models than after the exposure to ultra thin and even no models. This could be because women would feel accepted by society for their body size because the Media believes its okay. In my eyes, the Media always promote a very slim figure. Furthermore, a social psychologist’s research has suggested that average sized models are just as effective as thin models. But what do the public really want to see? Karl Langerfield, Head Designer of the Fashion house Chanel, said that: â€Å"the world of fashion was all to do ‘with dreams and illusions, and no one wants to see round women. † After reading both these studies, I decided to create an experiment that was heavily influenced by the experiments that the University of Sussex had conducted on self-discrepancy. One of these experiments was to see if advertisements that use models are more effective than those that don’t use any model. Also, I wanted to see if Prof. Naomi Mandel has the correct theory that advertisements are less effective with ones that use â€Å"plus-size† models or ultra-thin models. Additionally, the experiment that claims women have lower levels of weight concern after exposure to average models wasn’t conducted on teenagers and I wanted to see if teenagers find adverts with â€Å"plus-size† models more or less effective than ultra-thin models. The other experiment that was conducted on children between 5 and 6 years was to see if a specific body image does have an affect on how we perceive ourselves. They had three separate groups of girls who were all told the same story however, one group had images of Barbie, the ultra-thin doll; one group had images of Emme, the average-size doll and one group had no dolls included. Each girl was then told to fill out a self-discrepancy chart and highlighted the body they thought they had compared to the body they would like to have. The results from this showed that the discrepancy was higher in those that saw Barbie compared to the other doll. This shows a link to what heavily influences girls between what they see and their sub-conscious mind. The main objective for my experiment was to see whether adverts that use skinny models are more effective on us as a public, than those that don’t use any type of model and also to explore into the world of subliminal messaging and how it plays on the sub-conscious mind. I wanted to see if this type of advertising really does work. I carried out this experiment twice because I wanted to make sure I had clear and thorough results. I used a group of twenty students between the ages of 14 and 16 of which ten boys and ten were girls. The boys were given adverts targeted at males and the girls were given adverts targeted at females. Half of each gender was given adverts that feature models of the same sex and the other half were given adverts that featured only the products and no models. Each person that had the same booklet was all sat on a table and they would discuss the adverts. As I was walking around, I was listening to what they were asking each other about the adverts shown to them: â€Å"What is your opinion of the advert? What is the focal point for the advert? Whom is this advert targeted at? † I was surprised by the results I got from also the comments I got from both genders. All the girls that had models advertising the perfume in their adverts wanted to lose weight, and out of the 20 girls that took part, 90% overall wanted to lose weight. A lot of the girls described the models as â€Å"plain† and that â€Å"the majority of the models were skinny and blonde. This was a popular opinion with all the girls and I wondered why even though they thought the models looked plain and they weren’t envious of the models, why did all the girls want to lose weight? One girl gave an interesting point that even though Emporio Armani used Beyonce Knowles, who is African-American, to advertise their products; they thought that it was unclear of her skin colour and that they might have used a black and white image so that it would open up to a wider audience. This links back to a previous point that companies always advertise a certain frame of a model to women because this is what they believe as â€Å"perfect. Even though all the girls who didn’t have the models in their adverts had a lower discrepancy, this could be because they might have recognized the adverts from seeing them before or they could genuinely have a low self-esteem. However, what the University of Sussex had discovered was that average size models had no negative affect on body image with women. Even though I had done this experiment on boys too, I decided not to use their results as I felt they didn’t contribute to any of my product. Also, I wanted to focus on teenage girls and their perception of beauty. I was please with how the experiment was carried out and found it was a success with all the participants and the results I received were clear and reliable. However, if I was to carry this experiment out again, then I would do it with adults and also primary school children so then I could compare each set of results with one another and also I would to show how our opinions differ as we mature and also, to show who is more affected by the Medias constant advertise of celebrities and particularly the â€Å"size-0† figure. Also, I wish that I had shown them adverts that used â€Å"plus-size† models to see which one gave them a lower self-discrepancy as this would have been more relevant to the objective of my product. When I first started this topic, I began to realise how much pressure young girls are under to look good through the articles in magazines and the constant need to look at celebrities. After this, I decided that I wanted to find out if young girls and boys are actually affected by this pressure or if it is just my opinion. I created a questionnaire and gave it to secondary pupils between the ages of 11-16. I wanted to keep the questionnaires anonymous because I know these people and it could have influenced the way I interpret their answers. I don’t regret making these questionnaires however I was hoping for more detailed answers. I printed out 100 questionnaires and gave 10 to 10 tutors in my college. I wanted to give them out in tutor because they would have at least half an hour to fill out my questionnaires so they would be able to go into great detail and really think about their answers. However, I had difficulty with my questionnaires and the public doing them. Firstly, I had to print them in black and white to save ink at school; however the images I used were not clear enough in black and white so this could have affected my results. Secondly, when I received the questionnaires, there was minimal detail and also the majority of the participants were pretending to be funny in their questionnaires and didn’t provide the evidence I needed so they were invalid. On the other hand, there were questionnaires that I could use that gave detailed answers. 1% of all the results think the Media are the main cause of having a certain figure however 27% thought their friends pressured them to fit in with everyone else. However, their friends must get this idea of what is acceptable from somewhere. Could this be from the Media? In my appendix, I have included some tables, which include the results from the questionnaires I made. I found the graphs difficult to make, as I wasn’t sure how to break down the categories. Did I do it by year or by gender? The graphs were done on a trial and error basis however I felt like they were done in a correctly in the end. Another study found that 27% of the girls that they carried an experiment out on that felt the Media pressure them to have a perfect body. Even though this shows that other girls in other studies are affected by the Media, it’s not so reliable in my essay as I’m not sure of how many girls were asked, how old they were or where in the world this experiment was carried out. Eating disorders like Anorexia are caused by a physiological disorder within a person and how they view their own body. The sufferer believes that they are overweight so they take extreme actions like dieting, fasting and even starving themselves just so they feel what they believe to be ‘beautiful. ’ There are many reports; mostly around the time of London Fashion Week that fashion models have used this technique. However, it’s not only women in the fashion world who suffer with this disorder, other professions like ballet dancers and athletes show a high number of people who have/had Anorexia. Personality plays a big part in eating disorders. People who suffer with Anorexia Nervosa usually are perfectionists and overachievers’. People who suffer from Anorexia work relentlessly towards a thinner body because they feel that this will promise them beauty, success and happiness. The victims usually want to feel accepted by society however they do not feel valued by others. Anorexia and Bulimia Nervosa are most common in white people in western societies. This shows a direct link to how our society looks at behaviours and expectations of the public compared to eating disorders. Not only in the Western hemisphere is there a link towards the ethnicity of people with eating disorders, a study in Fiji showed a sudden increase in eating disorders among young women since the arrival of television in 1995, (Fearn, 1999). This also shows a strong link between the social and cultural factors. I have seen that there is a number of ways that that the Media can alter teenage girls’ perception of beauty. As I have found, magazines use the same frame of model to promote clothing and will openly slate people’s bodies if they feel they are not â€Å"good enough. Also, magazines will always show articles on how girls and women can change or correct themselves so that they are up to a standard that the Media thinks is acceptable. As humans, it has been known that we always want what we can’ have but is this just apart of our human nature? of this will make girls doubt their own body, even though I found from my own research that girls are not envious of the models in advertisements, they still wanted to lose weight and illustrated they were unhappy with themselves. This was proven through my questionnaires as 79% of the girls admitted to not being happy with their body. Although we as a public may claim to want to see women of a normal size modelling products aimed at us, fashion designers that are in charge decide what we are shown, and this could be where the problem is. Referring back to a point that Karl Langerfield, he claims that â€Å"the world of fashion was all to do ‘with dreams and illusions, and no one wants to see round women†. Even though we may openly say that we want to see designers use curvier bodies to promote their range of clothing or do we as a public secretly see want to see a skinnier frame of model? This links in with a point made earlier about my experiments. Even though all the girls admitted they weren’t jealous of the girls frame, they still wanted a lower discrepancy. So are fashion designers after all giving the public what they can’t admit to wanting? Also, Diane Von Furstenberg claimed that â€Å"To be a model, you have to be skinny. In conclusion, I have found that it’s clear that there are so many different opinions and that it’s hard to identify the general overview to this question without finding exceptions. I feel positive that I have found that the Media can affect teenagers and their perception of beauty but that it varies between person to person as my questionnaires have shown. However, if we are aware of the potential effects, then in theory, we ca n find solutions to these issues; surely that is the most important lesson we can take away from this?

Analysis of Awareness of Real Estate Investment Trusts

Analysis of Awareness of Real Estate Investment Trusts Investment in general, and property investment in particular, have been traditionally regarded more as an art than a science, where investors, decision-makers and analyst rely more on their experience, subjective judgement and quantified evidence. Real Estate Investment Trust or REITs is a new medium of investment specifically in property investment in Malaysia. Malaysia is the first country in Asia to introduce property trust and only in 1989 was listed in Kuala Lumpur Stock Exchange. The property trust was then facing some issues such as potential conflict of interest, a lack of focus on asset management and thin trading volume and then led the Real Property Investment Trust to be announced. REITs in Malaysia growth perfectly with stimulate the growth of property sector in this country. Malaysia then introduces the first of its new REITs, with the Axis REIT. YTL Corporation, Malaysias biggest builder, established the second REITs later, with properties in the REIT including the JW Marriott Hotel and Starhill Shopping Center in Kuala Lumpur. Besides that, other REITs that now established in Malaysia are Hektar REITs, Tower REITs, and also UOA REITs. Other companies in Malaysia that are expecting to join for REITs include Sunway City and the Landmarks Group. Most of the REITs companies in Malaysia own the real property asset such as shopping malls, hotels and also apartment buildings and they generate income from owning the building and also rental income from the buildings. The investors physically own a part of the building depending on the size of the share that they invest. Through REITs, investors can invest any amount that they want to own REITs. They can sell it anytime with the easiest way through stocks market. Compared to normal properties, the transaction cost of buy and sell REITs are much lower. But REITs does not like other unit trust, which is sold through agents or other peoples, but it is traded in stock exchange. So it gives return to investors in form of dividend and also capital appreciation from price change. This way, shows that REITs is a secured investment that protect investors interest and it works under the guidelines or frameworks that have been set up by government. Background: The investment characteristics of property are significantly different from the characteristics of assets in other investments. REITs in Malaysia is so attractive as Malaysia now is developing country. There is still a gap between Malaysia and others develop country in Asia. In order to put Malaysia in same level with Asia develop country, most of REITs managers are with option and plan to growth their property portfolio to trade or manage rental in order to achieve it. It also will give a better yield for investor if our country is same level with others. In order to improve market performance of REITs, the REITs Company should consider developing new opportunities, acquiring more properties into their portfolio and also to some countries, or joint developing property project. The relation of both legal frameworks and the market performance will give a picture to investor and other people who interested in this investment. The REITs sector need to provide more chance to other people to invest and it will help Malaysian generate more income others than monthly salary and to boost up economy in this country. Research Question: Finance in real estate is just a popular way of investment nowadays. The market performance of REITs shows the good results this few years. With the regulation that set up by government, surely REITs is the secured investment. But is there many people in Klang Valley that come from middle-income group realise about this investment in this develop country? Objectives: The main objective of this study is to determine the level of awareness towards REITs among middle-income group in Klang Valley. In line with above, this study also seeks to study types of REITs available in Malaysia Besides, these study also to discuss about the way to introduce REITs in Malaysia in order to make REITs the favourable investment medium. Scope of Study: In overall, this research is confined to REITs in Malaysia which in an attractive investment nowadays. This study covers the types of REITs available in Malaysia and also people awareness about it. Other than that, this study is carried out to know what is the way of promoting REITs that people prefer. Methodology: This research would be done in an analytic study manner. The information that is needed to examine the issue will be obtained from primary and secondary data. The primary data refers to the first-hand data, which required data collection that is the distribution of questionnaire. The questionnaire will be distributed to certain amount of Malaysian with a different background. Secondary data or desk research refers to the data that already exist, mostly in quantitative form. In this study, most of the secondary data were obtained from; Academic research on REITs and journals. Website of REITs Company. Other dissertations. Data analysis will be done through frequency analysis. Frequency analysis is used to determine the frequency of certain choice for the questions. Most frequent answer will be given the priority. The results will be shows in diagram or graph to show the popularity answers. Significance: It is hoped that the anticipated outcome of this study can benefit the: The REITs Company where they will more alert toward the middle-income people awareness of REITs and the way people wanted REITs to be promoted. The interested investor and also the student, as a reference on the information that relates to REITs. Organisation of Research: This study consists of five chapters where the first chapter provides a brief concept and view on the topic that will be studied in this research. It consists of introduction, objective of study, scope of study, significance on research and also organisation of research. Chapter two discuss on literature review about REITs in Malaysia. The discussion will be on definition of REITs, the types of REITs in Malaysia and also the list of REITs companies. Other than that, the discussion also will describe on how REITs work and also the benefit of REITs. The definition on middle-income people and background of Klang Valley also will briefly explain. The next chapter, chapter three is on methodology. In this chapter, methods used to construct the questionnaires will be outlined. This chapter will highlight how the administration of the questionnaire which will conduct to respondents. Chapter four is the finding and analysis of data obtained through questionnaires survey. The analysis of data obtained will determine the level of awareness towards REITs among middle-income people in Klang Valley. Through the survey, the preference way of promoting REITs also can be discover. The last chapter, which is chapter five, is the conclusion and limitation of this study. The best suggestion of promoting REITs also will be stated in this chapter. The weaknesses and strengths of the study may be included. Some suggestions for further study will also be included in this study. In the next chapter, a review of related information about REITs will be explained. The explanation will cover definition, types, how REITs work, REITs companies in Malaysia, the legislation of REITs Islamic REITs and also the future prospect of REITs. Chapter 2: Literature Review: LITERATURE REVIEW: REITs which stand for Real Estate Investment Trust is an investment that relates to properties. Trust fund has been introducing in this country since 1986, but REITS; a part of trust fund is a new medium investment only famous around few years back. REITs is an investment vehicle for investors to invest in large-scale income producing real estate. With the concept like unit trust, this investment gathers pool of money from all sizes of investors. REIT based companies will invest, manage and distribute rental as dividend back to the investors by yearly basis or depends on the agreement that have been signed before.REITs is a liquidity investment which It is being trade in Bursa Kuala Lumpur with ease of buy and sells back like a normal equity. As the years flow, REITs is not new to the world especially in many other developed countries. REITs usually targets for a long term investor with moderate risk such as insurance companies, unit trust funds and even individual investors. REITs invest in a variety of real estate properties such as office buildings, shopping malls, warehouses, apartments and hotels. The investor also has the added advantages of holding a liquid asset in the form of shares that can be sold on the market unlike the real estate itself which is illiquid. Investing in REITs provides the investor with dividend income and also allows them to own a real estate portfolio rather than just a single building. This chapter then will briefly explain about Klang Valley, middle-income group, history of REITs in Malaysia, types of REITs, how REITs work, and REITs companies and also about the legislation of REITs. Klang Valley: My research focus on awareness towards REITs among middle-income people in Klang Valley, Malaysia. Malaysia is located in Southeastern Asia, peninsula bordering Thailand and northern one-third of the island of Borneo, bordering Indonesia, Brunei, and South China Sea, south of Vietnam. It is comprised of two separate geographical regions which are Malay Peninsular and the states of Sabah and Sarawak. Klang valley is an area in Malaysia comprising Kulala Lumpur and its suburbs, and adjoining cities and towns in the state of Selangor. Tis valley is named after Klang River, the principal river that flows through it which is closely linked to the early development of the area as a cluster of tin mining towns in the late 19th century. Development of Klang Valley took place largely in the area between Gombak and Port Klang but the urban areas surrounding Kuala Lumpur have since growth towards the border of Negeri Sembilan and the north towards Rawang. Klang Valley has a total population around 7.6 million people in 2009 and estimated to growth due to the people migrate from other states towards Klang Valley and also a population growth. Klang Valley is the heartland of Malaysias industry and commerce. Regions of Klang Valley and their corresponding local authority: Federal Territory of Kuala Lumpur. Kuala Lumpur City Hall. Federal Territory of Putrajaya. Putrajaya Corporation. Selangor district of Petaling. Shah Alam City Council. Petaling Jaya City Council. Subang Jaya Municipal Council. Selangor District of Klang. Klang Municipal Council. Selangor district of Gombak. Selayang Municipal Council. Selangor district of Hulu Langat. Ampang Jaya Municipal Council. Kajang Municipal Council. Selangor district of Sepang. Sepang Municipal Council. For further information about the location of Klang Valley. Middle-Income Group: There are three classes of income in Malaysia. These classes indicate Malaysian monthly income and also their household. The three (3) classes including low-income people, middle-income people, and high-income people. Below is the income groups in Malaysia. Middle-class income is define as the socioeconomic class between the working class and the upper class, usually including professionals, highly skilled labourers, and lower and middle management.( Source: http://www.answers.com/topic/middle-class). Background of REITs in Malaysia: Malaysia is the first country in Asia to introduce property trusts. In 1989, the first trust was listed in Kuala Lumpur Stock Exchange. The regulatory framework of property trust, approved by the Bank Negara in 1986, was restrictive and provided no tax transparency. But there still an issues that arise such as lack of focus on property management and also conflict of interest which led the property trust to be private. In 1995, a revision of the property trust guidelines were done but it fail to give a good impact to investors and also to market. Then, in February 2005, there is another revision with led the property trust be renamed as Real Property Investment Trust (REITs). The major income of REITs is from rental and the profit is required to distribute to holders or investors in dividend. The guidelines also been revised to provide a good regulation for a REITs in this country. Malaysia was the first Islamic country to certify REITs and also the first country in Asia where REITs conquer agriculture land. A plantation REITs also much like conventional REITs. It will be the crops planted on the land and the success will depend on the sizes of assets injected to the trust. The potential plantation to be expected is oil palm because of the high demand on the production. Other than that, palm oil also undergoing the research to become a biodiesel product and in become more attractive after the increasing in oil prices. The plantation land or agriculture land also can be developed to residential area or commercial area due to the development of town. Types of REITs: REITs has several types with drives to a different prospect of REITs but it still relates to property as a main core to invest on. In others country they apply a lot of types of REITs. But in Malaysia we only apply three types of REITs. There are Equity REITs, Mortgage REITs and also Hybrid REITs. Equity REITs: Equity REITs is a publicly traded company that, as its principal business, buys, manages, renovates, maintains and occasionally sells real properties. (block,2006).Properties are usually purchased to invest is an income-producing real estate such as hotels, shopping malls and also apartment buildings. This type of REITs is different from others because REITs usually companies will purchase or develop the property and operate it as a part of their portfolio rather than sell it. Besides, Equity REITs is a long term investment because they earn dividend from rental. In additional, this type will let investors not only just to choose the type of property they want to invest in, but also the location of the properties. (Block, 2006). It means that the investors can make a choice on their own with the advice of the agent or REITs managers in order to make a good investment and to gain a good dividend. Mortgage REITs: A mortgage REITs is a REITs that focus on makes on holds loans to the property developers. (All about Investing: The Easy Way to Get Started by Esme Faerber: page 89). Rather than investing in properties,this type of REITs sometime loans money for purchase existing mortgages. The revenue earns is from the interest charge on the mortgage loans and pass on shareholders. Mortgage REITs is more sensitive compare than other REITs because of the prices of mortgage REITs react opposite from interest rates. It is good REITs to invest if there is a rumour of dropping in interest rates. Hybrid REITs: Hybrids combine the investing principles of mortgage and equity REITs, diversifying between making mortgage loans and direct property ownership. They earn both rental and interest income. (http://www.allaboutskyscrapers.com/REIT_types.htm). They buy, develop, and manage the properties and provide financing through mortgage loans. Most hybrid REITs have a stronger position in their financing account. The most famous industry that using hybrid REITs is private healthcare industries, where the financial company will provide mortgage to healthcare company, hospital management and also to buy properties such as land and building and also medical appliances. Equity REITs seem to be the most popular REITs recently. Between three types of REITs, mortgage REITs is the most risky which in involve in lend money to developers. Every type of REITs has different level of risk so investors should study and evaluate which REITs they want to invest in. The wise result will make the investors smile widely because of the big fish. Chan, Erickson and Wang (2003) find that equity REITs pay out more dividends than mortgage REITs. The reason is that equity REITs offer the potential for capital gains in addition to current income. Structure of REITs: Source: Practice and Prospect of Islamic Real Estate Investment (I-REITs)in Malaysian Islamic Capital Market by Dr. Asyraf Wajdi Dusuki. Manager: A man or woman who controls an organization or a part of organization. Property manager: A man or woman who controls the management and maintenance of the building. He or she will ensure the building in the good condition which safe to fit tenants in. Tenant: A person who pays money (rent) to the owner of a room, flat, building or piece of land so that he or she can live in it or use it. Trustee: A person who looks after money or property for somebody else. Unit holder: An owner of one or more units in a mutual fund. How REITs Works: Its true that investment most favourable today will be the one most prized tomorrow, and then real estate is definitely due for love-in. Investing in income-generating real estate can be a great way to increase your net worth. But for many people, investing in real estate, particularly commercial real estate is simply out of their budgets. REITs is a saviour to people when with REITs people can invest in small amount but with a large-scale of real estate group. REITs which means real estate investment trust essentially the organization that own and manage a portfolio of real estate and mortgages such as shopping malls, hotels, apartment buildings and also agriculture lands. REITs does not mean for a restrict group, but this share can be own buy anyone. REITs offer people the ownership of the property without any risks because all of the problems will be covered by agents or REITs managers. There are advantages when investing in REITs because of the liquidity and diversity. It is unlike actual real estate, where REITs can be easily and quickly sold. People will face less financial risk because of investing in a portfolio rather than single building because of the problems such as irresponsible tenants, economy impact to the property rental market and market value, and so on. REITs has a board of directors that elected by the shareholders. The shareholders have a power to eliminate any board of directors that does not fulfil their requirement. The board of directors usually came from a people with an investment background especially in REITs field. They will assist a REITs managers; person who will manages the operation of the property. The power to choose what types of real estate to invest in is on board of directors. REITs investment for investors starts when they invest certain amount of money in a REITs fund. The amount of money depends on the REITs managers who will arrange the investment on the properties that have been agreed by board of director. The investors can have an eyes and ideas on what types of the properties and the location. They have a choice whether want to agree or not with the properties. If they agree with the properties, they can sign a document to clarify the investment. Then the properties will be rent out or mortgage in order to earn money. REITs has a several method to measuring the profit but the suitable one called Funds From Operation (FFO). The National Association of Real Estate Investment Trusts (NAREIT) defines FFO as: Net income (computed in accordance with generally accepted accounting principles), excluding gains (or losses) from sales of property, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures will be calculated to reflect funds from operations on the same basis. Source: http://home.howstuffworks.com/real-estate/reit2.htm. The REITs industry use FFO to measure performance and to establish dividend payouts. Kallberg et al (2003) reported that REITs consistently pay out about 85% of FFO as dividends. The payouts from REITs are consistently higher than other types of equities. In other words, FFO is defined as the net income, excluding gains and losses from debt restructuring and property sales, adding back property depreciation and amortisation, and after adjustments for unconsolidated partnership and joint ventures. The net income is referring to rent and sales computed according to Generally Accepted Accounting Principles (GAAP). However FFO is not a necessary way to determine performance and dividend payouts. Not all REITs calculate FFO according to the NAREIT definition because some of the important items are missing from the formula such as maintenance, repairs and also expenses. Thus, investors must always read a companys report and any others supplemental information in order to get an exact FFO. REITs Companies: In Malaysia, there are several amount of business runs base on REITs. These companies have been success to put property market in this country in a good condition. These companies also expend the real estate industry with so much new types of building. Below is briefly an explanation about ten (10) well known REITs companies. Al-Aqar KPJ: Al-Aqar KPJ REITs established on 28 June 2006 is a Malaysian-based unit trust. The objective of this investment is to own and invest in Syariah-compliant real estate and it has been acceptable to invest in properties which compromise Ampang Puteri Specialist Hospital Building, Damansara Specialist Hospital Building, Johor Specialist Hospital Building, Ipoh Specialist Hospital Building, Puteri Specialist Hospital Building and Selangor Medical Centre Building. There are nine (9) others hospital under KPJ that potential to be injected under Al-Aqar KPJ such as Tawakal Hospital, Seremban Specialist Hospital and also Penawar Hospital. Amanah Raya: Amanah Raya REITs is subsidiary of Amanah Raya Berhad and wholly-owned by Minester of Fianace Incorporated. Amanah Raya REITs listed on Bursa Securities Malaysia Berhad on 26 February 2007 with a total asset siza of RM337 million. Today, Amanah Raya REITs has a diversification portfolio comprising hospitality, education and also commercial properties such as SEGI College, Holiday Villa Langkawi, Holiday Villa Alor Star, Wisma Amanah Raya Berhad, Wisma UEP, Permanis Factory and also Blocks AB South City Plaza. AmFirst: Established on 28 September 2006 under the Trust Deed, AmFIRST then entered into between Am ARA REIT Managers and Mayban Trustee Berhad. AmFIRST managed by Am ARA REIT Managers Sdn Bhd. Three months then, Am FIRST was listing on the Main Board of the Bursa Saham Malaysia Berhad on 21 December 2006. It shows an innovative makeover of AmFIRST, the first listed property trust fund in Malaysia. This REITS company is the largest Malaysia-based commercial REITs with exposure to the office, retail and hotel sector in Klang Valley area. Currently manages six office building, where three are located within the Kuala Lumpur Golden Triangle; AmBank Group Leadership Centre, AmBank Group Building, and also AmBank Tower, and one each in Petaling Jaya, Kelana Jaya, and Subang Jaya. AmFIRST also manages four-star hotel and a retail mall located in Subang Jaya, The Summit Subang, USJ. Atrium: Atrium REITs is a first logistic property approved in Malaysia. The objective of Atrium REITs is to invest in portfolio in order to reward investors or unit holders a maximise income and to acquire a high quality assets to achieve a long-term growth in a net income for distribution of dividend. This REITs then was first approved by the Securities Commission in October 2006 and then listed on Main Board of Bursa Saham Malaysia Berhad in April 2007. Atrium REITs has an 809, 668 sq ft (75, 220 sq mt) approved portfolio of investment properties which comprises of four freehold industrial properties currently leased to reputable and strong financially tenants. All of their properties located in Kuala Lumpur and Selangor, the fastest growing area in this country. Axis: Axis REITs is the first REITs list on Bursa Malaysia Securities Berhad on 3 August 2005. On 11 December 2008, Axis launched Islamic REITs which is the first in Malaysia. Axis own diversified portfolio of properties especially in Klang Valley, Kedah and Johor comprising of commercial offices, light industial building and also warehouse. Buildings that portray an image of Axis are Axis Tower and also Crystal Plaza. Both if this building are next door to each other and located along the busiest road, Federal Highway. These buildings are well maintain and easier accessibility. Other Axis properties are Delfi Cocoa in and BMW Asia Technology Centre PTP in Johor and also Giant Hypermarket in Sungai Petani, Kedah. Hektar: Hektar REITs is a Malaysias first retail-focused REITs. Listed on the Main Board of Bursa Saham Malaysia Securities on 4 December 2006, Hektar portfolio currently consists of shopping centres in Subang Jaya, Melaka and Muar. As of 31 December 2009, all of these properties was value of RM720 million. Hektar REITs is managed by Hektar Asset Management Sdn Bhd which a part of Hektar Group. QCT: QCT (Quill Capita Trust) REITs was listed in Main Board of Bursa Malaysia Securities Berhad on 8 January 2007. QCT is managed by Quill Capita Management Sdn Bhd. QCT main investment in REITs is a commercial properties. Until 31 December 2009, QCT has ten (10) properties with 1,288,149 sq ft net lettable area valued RM 788.4 million. The properties including part of Plaza Mont Kiara, Quill buildings, Wisma Technip and also tesco building in Jelutong, Penang. Starhill: This REITs was established on 18 November 2005 by a trust deed entered between Pintar Projek Sdn Bhd and Mayban Trustee and listed on Main Market of Bursa Malaysia Securities Berhad on 16 December 2005. Starhill REITs is focusing on retail and hotel properties investment. As for February 2010, Starhill REITs is the largest Malaysias real estate investment. This REITs has four (4) portfolio located in the heart of Kualu Lumpur; Starhill Gallery, JW Marriot Hotel, Lot 10 Shopping Centre and also The Residence at The Ritz-Carlton. Tower: Tower REITs is established on 21 February 2006. The objective of this company is to invest primarily in a portfolio of quality office building and commercial properties to provide regular and stable distributions of dividend to unit holders or investors and also to achieve a medium-term growth in the net income. In order to achieve their objective, Tower REITs implement several key strategies such as optimisation of capital structure, active asset management and also acquisition growth. The portfolio of this REITs company consists of three buildings located in Kuala Lumpur. First is Menara HLA, the 32-storeys office tower located in the heart of Kuala Lumpur Golden Triangle. With a net lettable area of 396, 820 sq ft, it has a blue chip tennats such as Hong Leong Assurance Berhad. Next, HP Towers comprises of two blocks of 9-storeys and 21-storeys and 3 levels of connecting podium. Situated in Bukit Damansara, this towers has a net lettable area of 350, 056 sq ft with a Hewlett-Packard (M) Sdn Bhd as a tenants. Lastly, Menara ING situated in Jalan Raja Chulan, the main central business district of Kuala Lumpur. Tower REITs only own 78.3% of the total share unit of the building and 100% leased out to ING Insurance Bhd. UOA: nbsp  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  UOA REITs was established on 28 November 2005 and listed on the Main Board of Bursa Saham Malaysia Securities Berhad two days later. UOA REITs is focusing on commercial properties. With a diversification portfolio of properties, UOA manages to maintain four building in Kuala Lumpur area. First is UOA Centre, a stylish 33-storeys office building situated between Jalan Pinang and Jalan Perak. Tenants of the building include financial services companies and also trading companies. Next is UOA II which located near to UOA Centre. With a contemporary designed, this 39-storeys building has a mixture of tenants from government agencies, multinationals insurance companies and law firms. Other than that, a 13-storeys office building located in Jalan Dungun, Damansara Heights name UOA Damansara is one of the UOA properties. Law firms, international associations and trading companies are a part of tenants for this building. Last is UOA Pantai located strategically in front of Menara TM. This 7-storeys of building consists of tenants include multinational corporations and so on. Regulation of REITs: In Malaysia, REITs govern by a statutory body name Security Commission Malaysia (SC). SC was established on 1 March 1993 under the Securities Commission Act 1993 and it is a financial regulatory agency. It is the central authority to regulate and develop the capital market. SC has big responsibilities in order to ensure the safety of the investors under the Act includes: Registering authority for prospectuses of corporations other than unlisted recreational clubs. Approving authority for corporate bond issues. Regulating all matters relating to securities and future contracts. Regulating the take-over and mergers of companies. Regulating all matters relating to unit trust schemes. Licensing and supervising all licensed persons. Supervising exchanges, clearing houses and central depositories. Encouraging self-regulation. Ensuring proper conduct of market institutions and licensed persons. Source:http://www.sc.com.my/main.asp?pageid=350menuid=376newsid=linkid=type= New Islamic REITs: The introduction of Islamic REITs is viewed as one of the most significant initiatives to broaden and deepen the product base of Islamic capital market in Malaysia. It can also help to enhance competitiveness of Malaysian Islamic capital market by attracting global Islamic investors who wish to diversify their investment portfolio which are Shariah compliant. Islamic REITs regulation was outlined in the Guidelines for Islamic REITs issued on 21st November 2005 by Securities Commission. (Securities Commission,2005). The Guidelines were introduced to facilitate the development of new Islamic capital market products, making Malaysia the first jurisdiction in the global Islamic financial sector to issue such guidelines and setting a global benchmark for the development of Islamic REITs. The Guidelines essentially stipulate Shariah compliance criteria to guide management companies in their activities relating to an Islamic REITs, including the types of Shariah permissible and non-permissible rental and investment activities for such fund. Islam prohibited Muslim from investing in properties whose tenants sell alcohol, pork or allo Analysis of Awareness of Real Estate Investment Trusts Analysis of Awareness of Real Estate Investment Trusts Investment in general, and property investment in particular, have been traditionally regarded more as an art than a science, where investors, decision-makers and analyst rely more on their experience, subjective judgement and quantified evidence. Real Estate Investment Trust or REITs is a new medium of investment specifically in property investment in Malaysia. Malaysia is the first country in Asia to introduce property trust and only in 1989 was listed in Kuala Lumpur Stock Exchange. The property trust was then facing some issues such as potential conflict of interest, a lack of focus on asset management and thin trading volume and then led the Real Property Investment Trust to be announced. REITs in Malaysia growth perfectly with stimulate the growth of property sector in this country. Malaysia then introduces the first of its new REITs, with the Axis REIT. YTL Corporation, Malaysias biggest builder, established the second REITs later, with properties in the REIT including the JW Marriott Hotel and Starhill Shopping Center in Kuala Lumpur. Besides that, other REITs that now established in Malaysia are Hektar REITs, Tower REITs, and also UOA REITs. Other companies in Malaysia that are expecting to join for REITs include Sunway City and the Landmarks Group. Most of the REITs companies in Malaysia own the real property asset such as shopping malls, hotels and also apartment buildings and they generate income from owning the building and also rental income from the buildings. The investors physically own a part of the building depending on the size of the share that they invest. Through REITs, investors can invest any amount that they want to own REITs. They can sell it anytime with the easiest way through stocks market. Compared to normal properties, the transaction cost of buy and sell REITs are much lower. But REITs does not like other unit trust, which is sold through agents or other peoples, but it is traded in stock exchange. So it gives return to investors in form of dividend and also capital appreciation from price change. This way, shows that REITs is a secured investment that protect investors interest and it works under the guidelines or frameworks that have been set up by government. Background: The investment characteristics of property are significantly different from the characteristics of assets in other investments. REITs in Malaysia is so attractive as Malaysia now is developing country. There is still a gap between Malaysia and others develop country in Asia. In order to put Malaysia in same level with Asia develop country, most of REITs managers are with option and plan to growth their property portfolio to trade or manage rental in order to achieve it. It also will give a better yield for investor if our country is same level with others. In order to improve market performance of REITs, the REITs Company should consider developing new opportunities, acquiring more properties into their portfolio and also to some countries, or joint developing property project. The relation of both legal frameworks and the market performance will give a picture to investor and other people who interested in this investment. The REITs sector need to provide more chance to other people to invest and it will help Malaysian generate more income others than monthly salary and to boost up economy in this country. Research Question: Finance in real estate is just a popular way of investment nowadays. The market performance of REITs shows the good results this few years. With the regulation that set up by government, surely REITs is the secured investment. But is there many people in Klang Valley that come from middle-income group realise about this investment in this develop country? Objectives: The main objective of this study is to determine the level of awareness towards REITs among middle-income group in Klang Valley. In line with above, this study also seeks to study types of REITs available in Malaysia Besides, these study also to discuss about the way to introduce REITs in Malaysia in order to make REITs the favourable investment medium. Scope of Study: In overall, this research is confined to REITs in Malaysia which in an attractive investment nowadays. This study covers the types of REITs available in Malaysia and also people awareness about it. Other than that, this study is carried out to know what is the way of promoting REITs that people prefer. Methodology: This research would be done in an analytic study manner. The information that is needed to examine the issue will be obtained from primary and secondary data. The primary data refers to the first-hand data, which required data collection that is the distribution of questionnaire. The questionnaire will be distributed to certain amount of Malaysian with a different background. Secondary data or desk research refers to the data that already exist, mostly in quantitative form. In this study, most of the secondary data were obtained from; Academic research on REITs and journals. Website of REITs Company. Other dissertations. Data analysis will be done through frequency analysis. Frequency analysis is used to determine the frequency of certain choice for the questions. Most frequent answer will be given the priority. The results will be shows in diagram or graph to show the popularity answers. Significance: It is hoped that the anticipated outcome of this study can benefit the: The REITs Company where they will more alert toward the middle-income people awareness of REITs and the way people wanted REITs to be promoted. The interested investor and also the student, as a reference on the information that relates to REITs. Organisation of Research: This study consists of five chapters where the first chapter provides a brief concept and view on the topic that will be studied in this research. It consists of introduction, objective of study, scope of study, significance on research and also organisation of research. Chapter two discuss on literature review about REITs in Malaysia. The discussion will be on definition of REITs, the types of REITs in Malaysia and also the list of REITs companies. Other than that, the discussion also will describe on how REITs work and also the benefit of REITs. The definition on middle-income people and background of Klang Valley also will briefly explain. The next chapter, chapter three is on methodology. In this chapter, methods used to construct the questionnaires will be outlined. This chapter will highlight how the administration of the questionnaire which will conduct to respondents. Chapter four is the finding and analysis of data obtained through questionnaires survey. The analysis of data obtained will determine the level of awareness towards REITs among middle-income people in Klang Valley. Through the survey, the preference way of promoting REITs also can be discover. The last chapter, which is chapter five, is the conclusion and limitation of this study. The best suggestion of promoting REITs also will be stated in this chapter. The weaknesses and strengths of the study may be included. Some suggestions for further study will also be included in this study. In the next chapter, a review of related information about REITs will be explained. The explanation will cover definition, types, how REITs work, REITs companies in Malaysia, the legislation of REITs Islamic REITs and also the future prospect of REITs. Chapter 2: Literature Review: LITERATURE REVIEW: REITs which stand for Real Estate Investment Trust is an investment that relates to properties. Trust fund has been introducing in this country since 1986, but REITS; a part of trust fund is a new medium investment only famous around few years back. REITs is an investment vehicle for investors to invest in large-scale income producing real estate. With the concept like unit trust, this investment gathers pool of money from all sizes of investors. REIT based companies will invest, manage and distribute rental as dividend back to the investors by yearly basis or depends on the agreement that have been signed before.REITs is a liquidity investment which It is being trade in Bursa Kuala Lumpur with ease of buy and sells back like a normal equity. As the years flow, REITs is not new to the world especially in many other developed countries. REITs usually targets for a long term investor with moderate risk such as insurance companies, unit trust funds and even individual investors. REITs invest in a variety of real estate properties such as office buildings, shopping malls, warehouses, apartments and hotels. The investor also has the added advantages of holding a liquid asset in the form of shares that can be sold on the market unlike the real estate itself which is illiquid. Investing in REITs provides the investor with dividend income and also allows them to own a real estate portfolio rather than just a single building. This chapter then will briefly explain about Klang Valley, middle-income group, history of REITs in Malaysia, types of REITs, how REITs work, and REITs companies and also about the legislation of REITs. Klang Valley: My research focus on awareness towards REITs among middle-income people in Klang Valley, Malaysia. Malaysia is located in Southeastern Asia, peninsula bordering Thailand and northern one-third of the island of Borneo, bordering Indonesia, Brunei, and South China Sea, south of Vietnam. It is comprised of two separate geographical regions which are Malay Peninsular and the states of Sabah and Sarawak. Klang valley is an area in Malaysia comprising Kulala Lumpur and its suburbs, and adjoining cities and towns in the state of Selangor. Tis valley is named after Klang River, the principal river that flows through it which is closely linked to the early development of the area as a cluster of tin mining towns in the late 19th century. Development of Klang Valley took place largely in the area between Gombak and Port Klang but the urban areas surrounding Kuala Lumpur have since growth towards the border of Negeri Sembilan and the north towards Rawang. Klang Valley has a total population around 7.6 million people in 2009 and estimated to growth due to the people migrate from other states towards Klang Valley and also a population growth. Klang Valley is the heartland of Malaysias industry and commerce. Regions of Klang Valley and their corresponding local authority: Federal Territory of Kuala Lumpur. Kuala Lumpur City Hall. Federal Territory of Putrajaya. Putrajaya Corporation. Selangor district of Petaling. Shah Alam City Council. Petaling Jaya City Council. Subang Jaya Municipal Council. Selangor District of Klang. Klang Municipal Council. Selangor district of Gombak. Selayang Municipal Council. Selangor district of Hulu Langat. Ampang Jaya Municipal Council. Kajang Municipal Council. Selangor district of Sepang. Sepang Municipal Council. For further information about the location of Klang Valley. Middle-Income Group: There are three classes of income in Malaysia. These classes indicate Malaysian monthly income and also their household. The three (3) classes including low-income people, middle-income people, and high-income people. Below is the income groups in Malaysia. Middle-class income is define as the socioeconomic class between the working class and the upper class, usually including professionals, highly skilled labourers, and lower and middle management.( Source: http://www.answers.com/topic/middle-class). Background of REITs in Malaysia: Malaysia is the first country in Asia to introduce property trusts. In 1989, the first trust was listed in Kuala Lumpur Stock Exchange. The regulatory framework of property trust, approved by the Bank Negara in 1986, was restrictive and provided no tax transparency. But there still an issues that arise such as lack of focus on property management and also conflict of interest which led the property trust to be private. In 1995, a revision of the property trust guidelines were done but it fail to give a good impact to investors and also to market. Then, in February 2005, there is another revision with led the property trust be renamed as Real Property Investment Trust (REITs). The major income of REITs is from rental and the profit is required to distribute to holders or investors in dividend. The guidelines also been revised to provide a good regulation for a REITs in this country. Malaysia was the first Islamic country to certify REITs and also the first country in Asia where REITs conquer agriculture land. A plantation REITs also much like conventional REITs. It will be the crops planted on the land and the success will depend on the sizes of assets injected to the trust. The potential plantation to be expected is oil palm because of the high demand on the production. Other than that, palm oil also undergoing the research to become a biodiesel product and in become more attractive after the increasing in oil prices. The plantation land or agriculture land also can be developed to residential area or commercial area due to the development of town. Types of REITs: REITs has several types with drives to a different prospect of REITs but it still relates to property as a main core to invest on. In others country they apply a lot of types of REITs. But in Malaysia we only apply three types of REITs. There are Equity REITs, Mortgage REITs and also Hybrid REITs. Equity REITs: Equity REITs is a publicly traded company that, as its principal business, buys, manages, renovates, maintains and occasionally sells real properties. (block,2006).Properties are usually purchased to invest is an income-producing real estate such as hotels, shopping malls and also apartment buildings. This type of REITs is different from others because REITs usually companies will purchase or develop the property and operate it as a part of their portfolio rather than sell it. Besides, Equity REITs is a long term investment because they earn dividend from rental. In additional, this type will let investors not only just to choose the type of property they want to invest in, but also the location of the properties. (Block, 2006). It means that the investors can make a choice on their own with the advice of the agent or REITs managers in order to make a good investment and to gain a good dividend. Mortgage REITs: A mortgage REITs is a REITs that focus on makes on holds loans to the property developers. (All about Investing: The Easy Way to Get Started by Esme Faerber: page 89). Rather than investing in properties,this type of REITs sometime loans money for purchase existing mortgages. The revenue earns is from the interest charge on the mortgage loans and pass on shareholders. Mortgage REITs is more sensitive compare than other REITs because of the prices of mortgage REITs react opposite from interest rates. It is good REITs to invest if there is a rumour of dropping in interest rates. Hybrid REITs: Hybrids combine the investing principles of mortgage and equity REITs, diversifying between making mortgage loans and direct property ownership. They earn both rental and interest income. (http://www.allaboutskyscrapers.com/REIT_types.htm). They buy, develop, and manage the properties and provide financing through mortgage loans. Most hybrid REITs have a stronger position in their financing account. The most famous industry that using hybrid REITs is private healthcare industries, where the financial company will provide mortgage to healthcare company, hospital management and also to buy properties such as land and building and also medical appliances. Equity REITs seem to be the most popular REITs recently. Between three types of REITs, mortgage REITs is the most risky which in involve in lend money to developers. Every type of REITs has different level of risk so investors should study and evaluate which REITs they want to invest in. The wise result will make the investors smile widely because of the big fish. Chan, Erickson and Wang (2003) find that equity REITs pay out more dividends than mortgage REITs. The reason is that equity REITs offer the potential for capital gains in addition to current income. Structure of REITs: Source: Practice and Prospect of Islamic Real Estate Investment (I-REITs)in Malaysian Islamic Capital Market by Dr. Asyraf Wajdi Dusuki. Manager: A man or woman who controls an organization or a part of organization. Property manager: A man or woman who controls the management and maintenance of the building. He or she will ensure the building in the good condition which safe to fit tenants in. Tenant: A person who pays money (rent) to the owner of a room, flat, building or piece of land so that he or she can live in it or use it. Trustee: A person who looks after money or property for somebody else. Unit holder: An owner of one or more units in a mutual fund. How REITs Works: Its true that investment most favourable today will be the one most prized tomorrow, and then real estate is definitely due for love-in. Investing in income-generating real estate can be a great way to increase your net worth. But for many people, investing in real estate, particularly commercial real estate is simply out of their budgets. REITs is a saviour to people when with REITs people can invest in small amount but with a large-scale of real estate group. REITs which means real estate investment trust essentially the organization that own and manage a portfolio of real estate and mortgages such as shopping malls, hotels, apartment buildings and also agriculture lands. REITs does not mean for a restrict group, but this share can be own buy anyone. REITs offer people the ownership of the property without any risks because all of the problems will be covered by agents or REITs managers. There are advantages when investing in REITs because of the liquidity and diversity. It is unlike actual real estate, where REITs can be easily and quickly sold. People will face less financial risk because of investing in a portfolio rather than single building because of the problems such as irresponsible tenants, economy impact to the property rental market and market value, and so on. REITs has a board of directors that elected by the shareholders. The shareholders have a power to eliminate any board of directors that does not fulfil their requirement. The board of directors usually came from a people with an investment background especially in REITs field. They will assist a REITs managers; person who will manages the operation of the property. The power to choose what types of real estate to invest in is on board of directors. REITs investment for investors starts when they invest certain amount of money in a REITs fund. The amount of money depends on the REITs managers who will arrange the investment on the properties that have been agreed by board of director. The investors can have an eyes and ideas on what types of the properties and the location. They have a choice whether want to agree or not with the properties. If they agree with the properties, they can sign a document to clarify the investment. Then the properties will be rent out or mortgage in order to earn money. REITs has a several method to measuring the profit but the suitable one called Funds From Operation (FFO). The National Association of Real Estate Investment Trusts (NAREIT) defines FFO as: Net income (computed in accordance with generally accepted accounting principles), excluding gains (or losses) from sales of property, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures will be calculated to reflect funds from operations on the same basis. Source: http://home.howstuffworks.com/real-estate/reit2.htm. The REITs industry use FFO to measure performance and to establish dividend payouts. Kallberg et al (2003) reported that REITs consistently pay out about 85% of FFO as dividends. The payouts from REITs are consistently higher than other types of equities. In other words, FFO is defined as the net income, excluding gains and losses from debt restructuring and property sales, adding back property depreciation and amortisation, and after adjustments for unconsolidated partnership and joint ventures. The net income is referring to rent and sales computed according to Generally Accepted Accounting Principles (GAAP). However FFO is not a necessary way to determine performance and dividend payouts. Not all REITs calculate FFO according to the NAREIT definition because some of the important items are missing from the formula such as maintenance, repairs and also expenses. Thus, investors must always read a companys report and any others supplemental information in order to get an exact FFO. REITs Companies: In Malaysia, there are several amount of business runs base on REITs. These companies have been success to put property market in this country in a good condition. These companies also expend the real estate industry with so much new types of building. Below is briefly an explanation about ten (10) well known REITs companies. Al-Aqar KPJ: Al-Aqar KPJ REITs established on 28 June 2006 is a Malaysian-based unit trust. The objective of this investment is to own and invest in Syariah-compliant real estate and it has been acceptable to invest in properties which compromise Ampang Puteri Specialist Hospital Building, Damansara Specialist Hospital Building, Johor Specialist Hospital Building, Ipoh Specialist Hospital Building, Puteri Specialist Hospital Building and Selangor Medical Centre Building. There are nine (9) others hospital under KPJ that potential to be injected under Al-Aqar KPJ such as Tawakal Hospital, Seremban Specialist Hospital and also Penawar Hospital. Amanah Raya: Amanah Raya REITs is subsidiary of Amanah Raya Berhad and wholly-owned by Minester of Fianace Incorporated. Amanah Raya REITs listed on Bursa Securities Malaysia Berhad on 26 February 2007 with a total asset siza of RM337 million. Today, Amanah Raya REITs has a diversification portfolio comprising hospitality, education and also commercial properties such as SEGI College, Holiday Villa Langkawi, Holiday Villa Alor Star, Wisma Amanah Raya Berhad, Wisma UEP, Permanis Factory and also Blocks AB South City Plaza. AmFirst: Established on 28 September 2006 under the Trust Deed, AmFIRST then entered into between Am ARA REIT Managers and Mayban Trustee Berhad. AmFIRST managed by Am ARA REIT Managers Sdn Bhd. Three months then, Am FIRST was listing on the Main Board of the Bursa Saham Malaysia Berhad on 21 December 2006. It shows an innovative makeover of AmFIRST, the first listed property trust fund in Malaysia. This REITS company is the largest Malaysia-based commercial REITs with exposure to the office, retail and hotel sector in Klang Valley area. Currently manages six office building, where three are located within the Kuala Lumpur Golden Triangle; AmBank Group Leadership Centre, AmBank Group Building, and also AmBank Tower, and one each in Petaling Jaya, Kelana Jaya, and Subang Jaya. AmFIRST also manages four-star hotel and a retail mall located in Subang Jaya, The Summit Subang, USJ. Atrium: Atrium REITs is a first logistic property approved in Malaysia. The objective of Atrium REITs is to invest in portfolio in order to reward investors or unit holders a maximise income and to acquire a high quality assets to achieve a long-term growth in a net income for distribution of dividend. This REITs then was first approved by the Securities Commission in October 2006 and then listed on Main Board of Bursa Saham Malaysia Berhad in April 2007. Atrium REITs has an 809, 668 sq ft (75, 220 sq mt) approved portfolio of investment properties which comprises of four freehold industrial properties currently leased to reputable and strong financially tenants. All of their properties located in Kuala Lumpur and Selangor, the fastest growing area in this country. Axis: Axis REITs is the first REITs list on Bursa Malaysia Securities Berhad on 3 August 2005. On 11 December 2008, Axis launched Islamic REITs which is the first in Malaysia. Axis own diversified portfolio of properties especially in Klang Valley, Kedah and Johor comprising of commercial offices, light industial building and also warehouse. Buildings that portray an image of Axis are Axis Tower and also Crystal Plaza. Both if this building are next door to each other and located along the busiest road, Federal Highway. These buildings are well maintain and easier accessibility. Other Axis properties are Delfi Cocoa in and BMW Asia Technology Centre PTP in Johor and also Giant Hypermarket in Sungai Petani, Kedah. Hektar: Hektar REITs is a Malaysias first retail-focused REITs. Listed on the Main Board of Bursa Saham Malaysia Securities on 4 December 2006, Hektar portfolio currently consists of shopping centres in Subang Jaya, Melaka and Muar. As of 31 December 2009, all of these properties was value of RM720 million. Hektar REITs is managed by Hektar Asset Management Sdn Bhd which a part of Hektar Group. QCT: QCT (Quill Capita Trust) REITs was listed in Main Board of Bursa Malaysia Securities Berhad on 8 January 2007. QCT is managed by Quill Capita Management Sdn Bhd. QCT main investment in REITs is a commercial properties. Until 31 December 2009, QCT has ten (10) properties with 1,288,149 sq ft net lettable area valued RM 788.4 million. The properties including part of Plaza Mont Kiara, Quill buildings, Wisma Technip and also tesco building in Jelutong, Penang. Starhill: This REITs was established on 18 November 2005 by a trust deed entered between Pintar Projek Sdn Bhd and Mayban Trustee and listed on Main Market of Bursa Malaysia Securities Berhad on 16 December 2005. Starhill REITs is focusing on retail and hotel properties investment. As for February 2010, Starhill REITs is the largest Malaysias real estate investment. This REITs has four (4) portfolio located in the heart of Kualu Lumpur; Starhill Gallery, JW Marriot Hotel, Lot 10 Shopping Centre and also The Residence at The Ritz-Carlton. Tower: Tower REITs is established on 21 February 2006. The objective of this company is to invest primarily in a portfolio of quality office building and commercial properties to provide regular and stable distributions of dividend to unit holders or investors and also to achieve a medium-term growth in the net income. In order to achieve their objective, Tower REITs implement several key strategies such as optimisation of capital structure, active asset management and also acquisition growth. The portfolio of this REITs company consists of three buildings located in Kuala Lumpur. First is Menara HLA, the 32-storeys office tower located in the heart of Kuala Lumpur Golden Triangle. With a net lettable area of 396, 820 sq ft, it has a blue chip tennats such as Hong Leong Assurance Berhad. Next, HP Towers comprises of two blocks of 9-storeys and 21-storeys and 3 levels of connecting podium. Situated in Bukit Damansara, this towers has a net lettable area of 350, 056 sq ft with a Hewlett-Packard (M) Sdn Bhd as a tenants. Lastly, Menara ING situated in Jalan Raja Chulan, the main central business district of Kuala Lumpur. Tower REITs only own 78.3% of the total share unit of the building and 100% leased out to ING Insurance Bhd. UOA: nbsp  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  UOA REITs was established on 28 November 2005 and listed on the Main Board of Bursa Saham Malaysia Securities Berhad two days later. UOA REITs is focusing on commercial properties. With a diversification portfolio of properties, UOA manages to maintain four building in Kuala Lumpur area. First is UOA Centre, a stylish 33-storeys office building situated between Jalan Pinang and Jalan Perak. Tenants of the building include financial services companies and also trading companies. Next is UOA II which located near to UOA Centre. With a contemporary designed, this 39-storeys building has a mixture of tenants from government agencies, multinationals insurance companies and law firms. Other than that, a 13-storeys office building located in Jalan Dungun, Damansara Heights name UOA Damansara is one of the UOA properties. Law firms, international associations and trading companies are a part of tenants for this building. Last is UOA Pantai located strategically in front of Menara TM. This 7-storeys of building consists of tenants include multinational corporations and so on. Regulation of REITs: In Malaysia, REITs govern by a statutory body name Security Commission Malaysia (SC). SC was established on 1 March 1993 under the Securities Commission Act 1993 and it is a financial regulatory agency. It is the central authority to regulate and develop the capital market. SC has big responsibilities in order to ensure the safety of the investors under the Act includes: Registering authority for prospectuses of corporations other than unlisted recreational clubs. Approving authority for corporate bond issues. Regulating all matters relating to securities and future contracts. Regulating the take-over and mergers of companies. Regulating all matters relating to unit trust schemes. Licensing and supervising all licensed persons. Supervising exchanges, clearing houses and central depositories. Encouraging self-regulation. Ensuring proper conduct of market institutions and licensed persons. Source:http://www.sc.com.my/main.asp?pageid=350menuid=376newsid=linkid=type= New Islamic REITs: The introduction of Islamic REITs is viewed as one of the most significant initiatives to broaden and deepen the product base of Islamic capital market in Malaysia. It can also help to enhance competitiveness of Malaysian Islamic capital market by attracting global Islamic investors who wish to diversify their investment portfolio which are Shariah compliant. Islamic REITs regulation was outlined in the Guidelines for Islamic REITs issued on 21st November 2005 by Securities Commission. (Securities Commission,2005). The Guidelines were introduced to facilitate the development of new Islamic capital market products, making Malaysia the first jurisdiction in the global Islamic financial sector to issue such guidelines and setting a global benchmark for the development of Islamic REITs. The Guidelines essentially stipulate Shariah compliance criteria to guide management companies in their activities relating to an Islamic REITs, including the types of Shariah permissible and non-permissible rental and investment activities for such fund. Islam prohibited Muslim from investing in properties whose tenants sell alcohol, pork or allo