Wednesday, May 20, 2020
What the Audience Learns about the Characters of Macbeth...
What the Audience Learns about the Characters of Macbeth and Banquo Macbeth is a play written by Shakespeare in 1606. The play itself is a twisting tragedy, showing that even the strongest of people can be influenced in the wrong way. The play portrays the collapse of Macbeth: a trusted, brave, loyal servant of Scotland, but under the influence of evil he slowly turns into a malicious murderer. Throughout the beginning of the play you have been introduced to the characters of: the evil and scheming witches, who are plotting to give Macbeth two predictions: that he is going to be the Thane of Cawdor and King. Since Macbeth is an ambitious person he will peruse these dreams and predictions. Alsoâ⬠¦show more contentâ⬠¦This is because; he wants his own glory, if they can see his future he wants to benefit from their predictions to; unlike Macbeth he doesnââ¬â¢t entirely trust the witches and thinks they are treacherous and very deceitful. Soon after in the play, the witches begin to brainwash him with their predictions so much that he almost begs for them to stay and envisage more. I can prove this with this quote: ââ¬Å"Stay you imperfect speakers. Tell me more. Speak I charge you.â⬠Macbeth is a very commanding person but he has weaknesses: Glory and ambition, even though not necessarily a bad trait, but the witches have started brainwash him to use it for bad purposes to get what he wants and cause chaos. Unlike Macbeth, Banquo is mentally stronger and yet again doesnââ¬â¢t wholly trust the witches, nether does he plead them to stay, however he wouldnââ¬â¢t mind hearing his future. I can support by point with this quote: I neither beg nor fear your favours or your hates.â⬠Banquo isnââ¬â¢t afraid of the witches and their supernatural-powers, however he to wants to know his future like Macbeth. After the witches have left; Macbeth is still dazed at the predictions about the Kingship but also he doesnââ¬â¢t want to show his true feelings about all of the predictions; so he discreetly brings up the subject to Banquo. ââ¬Å"Your children shall be Kings.â⬠Already Macbeth feelsShow MoreRelatedMacbeth Study Guide1002 Words à |à 5 PagesMacbeth Study Guide Macbeth Study Guide Act 1 1. What reason can you think of as why Macbeth is first introduced to us through the witches? E.g.To tell us, that Macbeth was a good guy before heââ¬â¢s darkest wish has been prophesied or for tolled. We learn how Macbeth deals with the prophecy towards the witches have told him 2. Explain what you think is meant by the paradoxical: Fair is foul, foul is fair. E.g. Good is bad, bad is good towards the witches? Macbeth is a fair man who appearsRead MoreThe Human Mind And Act Of William Shakespeare s Macbeth1324 Words à |à 6 Pagesmanipulation? In the play Macbeth, Shakespeare suggests that choices are a creation of the human mind and act as a way for people to feel as though they have control when they are ultimately ruled by fate. He accomplishes this by leading the audience through a series of choices that several characters make and how they eventually meet their fate, specifically Macbeth himself. Although other characters make choices that aid Macbeth in his destiny, Macbeth s Shakespeare shows the audience that no amount ofRead MoreThe Role of the Witches in Macbeth by William Shakespeare Essay1108 Words à |à 5 Pagesof the Witches in Macbeth by William Shakespeare Macbeth is a play written by William Shakespeare some time between 1603 and 1606 and is set in Scotland around 1040. The time it was written coincides with the reign of King James the First of England. King James showed a great interest in witches and powers of the supernatural and Macbeth was arguably written to impress the king in what were violent times. Shakespeare used witches as pivotal characters to create a catalystRead More The Third Murderer in Macbeth Essay710 Words à |à 3 PagesThe Third Murderer in Macbeth à à à à There is much speculation as to who the third murderer is who assisted in the slaying of Banquo. Macbeth, Lady Macbeth, and one of the Weird sisters are a few of the best candidates as to filling this role. Each of these three main characters has their own motive as to why they would want to join in on the assassination. Out of these three possibilities of filling this third murderers role, all have reasons as to why they could or could not fill theRead MoreRole of the Witches in Macbeth1040 Words à |à 5 PagesMacbeth is a play about morals and how people can be easily influenced. The audience at the time when the play was written were more superstitious than we are. They believed in witches and thought that they were the devils disciples. They were believed to be able to control the weather, blamed many things, such as outbreaks of disease on them. The first people to meet the Witches are Banquo and Macbeth. They find the witches appearance is vile. We can see this as Banquo says that ââ¬Å"(they) look notRead MoreThe Character of Macbeth in William Shakespeares Play Essay625 Words à |à 3 PagesThe Character of Macbeth in William Shakespeares Play The play Macbeth addresses many complex issues throughout. The main one of these revolves around the theme of ââ¬Å"ambitionâ⬠. We gain our first insight into the main character ââ¬Å"Macbethâ⬠through other peopleââ¬â¢s opinions in Act 1, Scene 2. The aim of this is to build the suspense and intrigue surrounding Macbeth. The play gives the audience plenty of opportunity to contemplate Macbethââ¬â¢s actions and influences. In thisRead MoreMacbeth, By William Shakespeare1682 Words à |à 7 Pagesintroduced to Macbeth in William Shakespeareââ¬â¢s play Macbeth he is illustrated as a loyal warrior hero to Scotland. Macbethââ¬â¢s recognition on the battlefield helps gain him great honor from King Duncan who later announces him as Thane of Cawdor. However, throughout the play the audience is able to discover his human flaws. Ironically, his first characteristic of being a mighty powerful man actually changes to be a weak man who gets stepped all over on. Through his soliloquies for instance, the audience can readRead MoreMacbeth: the True Nature of Man898 Words à |à 4 PagesIn the play Macbeth by William Shakespeare, the author tries to show the true nature of man by using the play s main character, Macbeth, as an example. He is overly ambitious, courageous, and self-doubting. Throughout the play, Shakespeare displays these characteristics to the audience through Macbeth to show the true nature o f man. At the end of the play, these characteristics ultimately lead to Macbeth s downfall. In the beginning of the play, Macbeth is described as being valiant.Read MoreMacbeth, By William Shakespeare1262 Words à |à 6 PagesShakespeareââ¬â¢s Macbeth is a play about the inner struggles of a man who is informed of his possible rise to power, and how those inner struggles ultimately lead to his downfall. The story begins with three weird sister, or witches, planning to meet Macbeth (1.1.1-7). When the weird sisters meet with Macbeth and Banquo, in Act 1, Scene 3, they tell them of three prophecies. The first prophecy, that comes true right away, is that Macbeth will be titled Thane of Cawdor, which the audience learned of inRead MoreAnalysis of Macbeth Essay912 Words à |à 4 PagesAnalysis of Macbeth Macbeth, is one of the greatest tragedy plays written by William Shakespeare. It is a rather short play with a major plot that we had to follow it carefully to understand its significance. The play is a tragedy about evil rising to power, which ends up corrupting the main characters Macbeth and Lady Macbeth. In the opening of the play Macbeth is introduced to the audience as Thane of Glamis and is respected. The witches also play a major part in the
Wednesday, May 6, 2020
Afghanistan s Geography Afghanistan - 1527 Words
Afghanistanââ¬â¢s Geography: Afghanistan is a country that is rich in history and war. Going back to early human civilization, many empires resided in this country. This countryââ¬â¢s history is so vast some experts say that the relics and artifacts are just a grand as the artifacts from Egypt. ââ¬Å"Lying along important trade routes connecting southern and eastern Asia to Europe and the Middle East, Afghanistan has long been a prize sought by empire builders, and for millennia great armies have attempted to subdue it, leaving traces of their efforts in great monuments now fallen to ruin.â⬠(Dupree, et al., 2016) Afghanistan is landlocked country that boarders seven countries, located in south-central Asia. The nearest body of water is over 300 miles away. ââ¬Å"Because of both its isolation and its volatile political history, it remains one of the most poorly surveyed areas of the world.â⬠(Dupree, et al., 2016) With the rugged terrain holds a rugged trail of womenââ¬â¢s rights. Soviet Influence and women rights: ââ¬Å"The Afghans concluded a treaty of friendship with the new Bolshevik regime in the Soviet Union. During soviet influence, the country had made progressive strides for women rights: ââ¬Å"In 1964, Afghan women were granted the right to vote. The 1977 constitution clearly stated in its article 27 that ââ¬Å"women and men, without discrimination have equal rights and obligations before the law. By the late 1970ââ¬â¢s, female students outnumbered male students in Kabul. (Noury Speciale, 2016) Even theShow MoreRelatedCultural Awareness And Characteristics Within The Afghanistan Culture1732 Words à |à 7 PagesCultural Awareness and characteristics within the Afghanistan culture. There are five major characteristics that define a culture; they are learned, shared, symbols, integrated, and dynamic. Culture is learned. It is not biological; we do not inherit it. Much of learning culture is unconscious. We learn culture from families, peers, institutions, and media. The process of learning culture is known as enculturation. While all humans have basic biological needs such as food, sleep, and sex, the wayRead MoreAfghanistan Is Like A Goat On Which The Lion And The Bear Have Both Fixed Their Eyes?1466 Words à |à 6 PagesAfghanistan , a buffer state between two super powers in the first half of 20th century, was pulled into war during the latter half, first against the USSR and then against the local rival groups or militias. The 21st century yet again brought this country into another conflict. This time it was the West led by the Americans and their puppet Pakistan, the former allies in driving out Russia from Afghanistan. The traditional buffer state of Afghanistan, due to its location at the cross roads of AsiaRead MoreThe 9 / 11 Terrorists Attacks And Background1375 Words à |à 6 Pagesplane wrecks and tragic deaths. On the reconstruction of buildings and also families. We donââ¬â¢t take time to look at what really happened before the attacks and the events that laid the path for them. We need to look deep into what Jihadism is, the Afghanistan crisis, and Osama Bin Ladenââ¬â¢s life and followers to really get a good view on what led up to the 9/11 attacks. To understand Jihadism we first need to look at the religion of Islam. In Islam there are five pillars people need to follow: ââ¬Å"To acceptRead MoreAfghanistan Of The Soviet Union1499 Words à |à 6 PagesFor over 2 centuries, Afghanistan has known virtually no time without war. Beginning around 326 B.C. with the conquests of Alexander the Great, to the Persians, British, Russians and most recently, America and our NATO allies, Afghanistan has been cultivated into the country that it is today through a trial by fire. Regardless of this relentless onslaught of foreign military power, the Afghan people have tirelessly defended their homeland with no outside power ever being able to subdue them completelyRead MoreThe Kite Runner: Highlighting the Plight of Afghanistan1691 Words à |à 7 Pagesbackbone of his novels. Born in Kabul, Afghanistan on March 4, 1965, Hosseini loved poetry and kite fighting. When he turned five, he moved with his family to Tehran. Here, Hosseini taught his familyââ¬â¢s Hazara cook how to read and write, showing Hosseini an early view into the cruelties of the world and the po wer of words (Esten). After a stay in Iran, Hosseini had returned to Kabul by 1973; however, the instability forced him to move to Paris. When Afghanistan was plunged into more chaos with theRead MoreGlobal War On Terrorism And Terrorism1367 Words à |à 6 PagesGlobal War on Terrorism is a metaphor of war referring to the global military campaign led by the United States of America. The war is a NATO operation being led by the U.S. Being a NATO operation, it automatically brings more than 20 allies to the U.S.ââ¬â¢s side of the conflict. The U.S. also has multiple non-NATO allies in the War on Terror. The war has been ongoing for just over 15 years, and has been one of the longest wars in the history of the U.S. The location is global, of course, it is in the nameRead MoreRussia, The Mid East, And North Afric An American Perspective On Geographic Issues2168 Words à |à 9 PagesPatsy Ramos Prof. Volkman Geo 101 11 May 2015 Russia, the Mid-East, and North Africa: An Americans viewpoint on Geographic Issues Of Russia, Afghanistan, and Morocco Russia has been an American ââ¬Å"hot spotâ⬠since the middle of the First World War when the Bolshevik Revolution ended Russian support for the Allied Powers. Russia is a perennial superpower. Culturally, famous literary figures include Tolstoy, Dostoevsky, and Nabakov. Musically, Russia introduced the world to Stravinsky, TchaikovskyRead MoreThe Culture Of Iran Is A Major Element Of Cultural Competence1683 Words à |à 7 Pagesleading Iran. Throughout the years, Iran was involved in many conflicts while still today holding its own against other countries in the world. Iran is located within the Middle East with the bordering countries of Armenia, Azerbaijan, Iraq, Afghanistan, Pakistan, and Turkey. As early as the period of the Romans, Iran had many types of leaders, conflicts and enemies in the world. Their government structure is similar to most countries such as the United States and Britain. The only difference theyRead MoreCulture : The Light Of A Society1097 Words à |à 5 Pagessecurity for their parents. Despite all of these indications of women subjection to the men, women often played an influential role within the family unit, society, and many were admired and honored for their talents. Nonetheless, I was raised in Afghanistan. A place that is multicultural and multiethnic. Geographically it is a landlocked country, which is known as the heart of Asia. Afghan culture is rich in social customs. Afghans tend to be very social and ties among families and friends are veryRead MoreThe Security And Privacy Of Citizens Essay810 Words à |à 4 Pagesâ⬠¦ ââ¬ËTo a large extent, terrorists organizations cannot survive without fundings from drugs,ââ¬â¢ Perl said. He called terroristsââ¬â¢ need for drug-trafficking profits ââ¬Ëaddictive.ââ¬â¢ â⬠¦ ââ¬ËTwo days before September 11th, Casteel noted, ââ¬Ëwe sized a 53 kilo[gram]s of Afghan heroin in New York. It was being distributed by Colombians, to show you the [narco-teror] link.ââ¬â¢ Clear and omnipresent is the link between terror and illicit drugs. A problem that Americans have faced for a long time; ââ¬Å"The United States is
Cash Piles Alongside Stockpiles of Shares Repurchases
Question: Discuss about Cash Piles Alongside Stockpiles of Shares Repurchasesthe . Answer: Introduction Substantial attention of media has been dedicated to the rise in cash holdings among the companies in the United States. A record level has been hit by cash piles alongside stockpiles of shares repurchases at the large United States firms. The investigators in this present article have devoted their time and energy to probe the evolution of cash holdings of the United States companies right from year 1980 and to showcase the possibility of such evolution being explicated on the basis of alterations in conventional cash holdings determinants (Bates, Kahle Stulz, 2009). The investigators sought out to accomplish these objective by documenting a secular upsurge in cash holdings of characteristic companies in the United States between 1980 and 2006. The scholars utilized a regression of average cash to assets ratio on time and constant to showcase that time had a significant non-negative coefficient. The insinuation of this revelation is that average cash to assets ratio has escalated by 0.46 percent annually (Bates, Kahle Stulz, 2009). The authors also manifested this evolution by showing that the cash ratio has exceedingly doubled between 1980 (10.5 percent) and 2006 (23.2 percent). It was hence essential to probe whether the sudden upsurge in cash holdings arises from urgency problems, denotes an irregularity that disapproves the prevailing corporate cash holdings determinant theories or emerges from alterations in characteristics of companies alongside business environments of firms. The mean cash to assets ratio for the industrial companies in the United States have exceedingly doubled between the years 1980 and 2006. The economic significance measure of such an upsurge is that the average company at the end of 2006 is able to retire every debt obligations with holdings in cash. The ratios of cash rise was a result of the cash flow of companies becoming riskier. It also arose due to the companies change: These firms held less stock alongside receivables with increased research and development activities. The precautionary motive for holding cash has a key role to play when explicating the upsurge in ratios of cash. However, the authors of this article discovered no consistent proof relating agency conflicts to the rise in these ratios. It was concluded that many US firms hold cash for forestalling distress as well as default (Bates, Kahle Stulz, 2009). The authors documented the sudden upsurge between 1980 and 2006 in the mean cash ratios for the firms in the United States. It was shown that the surge was more pronounced among companies which do make dividend payments, those in more latest initial public offers listing groups alongside companies in industries which undergo highest rise in volatility of idiosyncratic. Upon documenting the the rise in holdings of cash, it was deducted that the primary reasons for the upsurge in cash ratio are the fallen stock, increased risk for firms cash flow, fallen capital spending alongside increased research and development spending. It was noted that the alterations in the above mentioned variables differ with respect to the overal rise in cash holdings crossways optional empirical models of holdings of cash. Nevertheless, the conclusions by the authors remained robust. The authors noted that the rise in cash flow holdings was linked to the vastly examined rise in risk of idiosyncratic. Latest evidence of a declining risk of idiosyncratic could make firms to ultimately decrease their respective cash holdings if the increase is sustained. Such will give a convincing explanation for the peaking cash ration in the year 2004 in the authors sample. The authors also concluded that the rise in stock was to probably be prolonged. The authors also noted that the higher significance of research and development with respect to capital spending had a lasting impact on these cash ratios. Authors also discovered that the investment opportunities for research and development remained expensive to finance compared to capital utilizing capital spending. Intensity of greater research and development accordingly in relation to capital spending needed companies to hold a higher cash holdings vis--vis upcoming shocks to cash flows produced internally. The authors gave evidence showing that the rise in ratios of cash could significantly be explicated by the firms features alterations over the used sample and less explained substantially by alterations with respect to the link between characteristics of firms and holdings of cash. The proof given by the authors aligned with prevailing evidence indicating that it is critical to hold cash as a precautionary motive which is a key determinant of the demand for cash. Even though derivative markets has expanded suddenly, the proof given by authors show that companies are faced with diverse risks beyond hedging or hesitant to hedge with derivatives. The authors acknowledged a significant variation across cash holdings that is never explained by the underlying model used in the study. Nevertheless, the agency problem had no capability of explicating the authors evidence aggregately. The authors particularly held that no evidence existed to show that ratios of cash increase abundantly for companies with increasingly pronounced management or that cash falls values during the period between 1980 and 2006. The authors further recorded the sudden decline in the United States companies net debt between 1980 and 2006. The authors held that in case cash was barely negative debt that it is appropriate to measure it via net debt. They acknowledge the gap in the finance literature which negates the spectacular evolution in net debt of the firms in the United States with respect to the conventional leverage measures. The authors showed that by the year 2006, average companies lacked leverage in case it was measured based on net debt. The authors concluded that the growing significance of cash has to be considered during the evaluation of the financial situation as well as in the assessment of decisions of capital structure by companies. The main research question being addressed in this article is why do firms in the United States hold extremely large cash currently compared to the initial periods? The Main Hypotheses The authors held various hypothesis in the study: that the increase in cash holdings was more pronounced among companies which do make dividend payments, those in increasingly latest initial public offers listing groups alongside companies in industries which undergo highest rise in volatility of idiosyncratic. Ceteris Paribus, urgency problems-stricken firms are expected to hold cash in case they lack good opportunities for investing and where their respective management do not wish to give back shareholders their cash. The authors use literature review to get the required data for the investigations and applied various models to affirm the hypothesis. The authors used review of literature method by reviewing evidence and theory to identify the four motives of holding cash among firms as transaction, precautionary, urgency as well as tax motives. Authors affirmed that firm characteristics changes as the reason for increase in cash ratios using a modified type of OPSW model for 1980s utilizing Fama-MachBeth regressions. They attained the coefficient of these model that denoted the mean coefficients from yearly cross-sectional regressions they estimated between 1980 and 1989. The modified OPSW model took into account the net debt alongside net equity that were not captured by other previously used models in the study. The authors also applied the regression models to ascertain whether there was a change in demand functions for the cash holdings. The authors commenced this investigation from regressions that linked cash ratio to changes in firm characteristics over time. The investigators then advanced to probe whether such regressions could explicate the rise in cash ratios via alterations in features of the companies. The main focus was to ascertain whether a regime shift existed with respect to how companies determine respective cash holdings. The Main Findings The authors found out that the main reason for the increase in the cash ratios were the alterations in the characteristics of firms. The authors attached the rise in cash holdings to the alterations in particular features of the specific companies. The authors found out that there were changes in the demand curve for cash holdings from 2000 due to the changes in the characteristics of firms. They noted that the coefficients of the size of the firm shifted from non-positive and significant in 1980s and 1990s to non-negative and significant in early 2000s. This indicates that the latter outcomes are likely manifestations of the upsurge in cash holdings of enormous companies beginning in 2000. The authors also found out the pervasiveness of the cash holdings increment. They gave a table indicating the secular rise in average cash ratio alongside the conforming decline in net debt. They discovered that net debt declined as a result of increased cash holdings by firms instead of firms having reduced debt. They discovered that there was a positive relationship between increase in cash holdings and the size of the firm by sub diving firms into quintiles every year in accordance with book value of respective firms assets at the elapse of previous year. It was discovered that mean cash ratios escalated for company size quintiles between 1980 and 2000 and concluded that mean cash ratio surges crossways individual quintiles but it was more exposed in smaller firms. They also discovered that larger firms showcased enormous increases in cash holdings in later periods. Authors also found out four motives of holding cash among firms as transaction, precautionary, urgency as well as tax motives but narrowed down to precautionary motive manifested through secular upsurge in idiosyncratic risk as the main reason behind the increase in cash holdings by the United States firms. The Main Results The main result found by the authors is that precautionary motive manifested through secular upsurge in idiosyncratic risk is the main reason for the increased cash holdings among the United States firms but urgency conflict had no consequences in the increase in cash holdings. The result showed that there was a change in cash holding demand (precautionary) function. The relations between firm characteristics and cash holding remained consistent generally crossways the models estimated with exclusion of coefficient on capital spending that differed with cash ratios constructions (Bates, Kahle Stulz, 2009). When the indicator variables that permitted the alteration in intercept was incorporated in the 1990s and 2000s, it was discovered that the intercept did not rise in the 1990s while the 2000s intercept was no longer bigger than that of 1980s for Model 4, yet greater for Model six and five. Model 6 and 5 never permitted the exclusion of possibility that a shift in regime explicated the 2000s higher cash holdings (Bates, Kahle Stulz, 2009). The results from the 3rd model documented in Panel B that utilized log of ratio of cash to net assets as dependent variable showed that the 2000s intercept coefficient remained non-negative. This suggested an outward shift in the demand curve for the cash that was nor explicated by the alterations in characteristic of the firm (Bates, Kahle Stulz, 2009). Nevertheless, when the shifts in slopes is permitted, the same result no longer hold. Both the indicator variables remained non-positive, yet none of them is significant ate five percent level (Bates, Kahle Stulz, 2009). The results also indicated that the intercept declined during the 1990s and subsequently surged during the 2000s, hence during the 2000s, the intercept was the same as during the 1980s. Accordingly, a rise in the intercept could not explicate the greater cash ratios during the 2000a contrasted with the 1980s (Bates, Kahle Stulz, 2009). Numerous significant findings drawn from regression. The Panel B models suggested that cash holdings remained lower than anticipated during the 1990s (Bates, Kahle Stulz, 2009). There was no evidence in Panel B indicating that, provided the characteristics, firms had larger than anticipated cash holdings during the 2000s because of the non-positive interactions for intercepts (Bates, Kahle Stulz, 2009). The results also showed that permitting for time variations in coefficients added little to the power of explanatory of regressions. It was also discovered that non-positive relations between firm size and cash holding breaks down during 2000s (Bates, Kahle Stulz, 2009). The additional examinations of alterations in intercepts as well as slope were performed cross-sectional for individual year (Bates, Kahle Stulz, 2009). The evaluation affirmed the outcomes of the regression indicating a fall in the intercept over time. The explanatory variables interestingly explicate additional of cross-sectional cash holding distribution (Bates, Kahle Stulz, 2009). The two coefficients evolution remained interesting in this study: The coefficient of the cash flow risks tends to be insignificant during the early years of sample period, whereas the coefficient of the firm size switched from non-positive and significant in 1980s and 1990s to non-negative and significant in the early 2000s. The latter outcomes most probably manifests the surge in cash holdings of the big firms beginning in 2000 (Bates, Kahle Stulz, 2009). Brief Assessment of the Paper: The rise in cash holdings documented by investigators in this article has significant implications in my understanding of the United States companies leverage. A great proportion of finance literature have sought to measure leverage based on debt ratio to assets or based on debt to equity. Based on this definitions, however, slight evidence exist relating to a decline in mean leverage for companies. It has shown that the drop in net debt is extremely sharp that mean net debt among United States companies is non-positive as reflected between 2004 and 2006. This study is significant since it incorporates the evolution of net debt and uses it to recognize a sharp different deduction regarding present leverage level among the United States companies alongside the leverage evolution over the previous twenty-five years. It has made me to understand that cash holdings increase prominently among firms that fail to make their dividend payments dramatically. It has also made me disprove the notion that upsurge in cash holdings can be ascribed systematically to agency problems in companies. The paper majorly used secondary data and this could have led to forwarding mistakes made by the previous scholars. They could have used both primary and secondary research methods to collected more diverse data which could have boosted the reliability and credibility. Moreover, the principles of triangulation was missing as the data was narrowed down biasedly for the United States firms. A cross-sectional data could have given a more reliable and credible results that could have enabled generalization (Bates, Kahle Stulz, 2009). The sample size was also small as the models used limited certain amount of data leading to increase in probability of error. The main thing that can be learned from this is that it is more appealing and accurate to have both theoretical and empirical data when undertaking analysis. As presented in the article, both theoretical and empirical analysis were done hence disapproving the notion that urgency problems leads to increased cash holdings as has been theoretically conceived initially. References Bates, T. W., Kahle, K. M., Stulz, R. M. (2009). Why do US firms hold so much more cash than they used to?. The journal of finance, 64(5), 1985-2021.
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