Belonging Relative Text

HSC English Area of Study: Belonging Suggestions for related texts: Items held by Hawkesbury Library †¢ †¢ †¢ †¢ †¢ †¢ †¢ Fiction Non-fiction Picture books Plays Poetry Film & television Documentary film & television Fiction Author Abdel-Fattah, Randa Abdel-Fattah, Randa Achebe, Chinua Alcott, Louisa May Anderson, Laurie Halse Atwood, Margaret Auel, Jean Barrie, J. M. Binchy, Maeve Boyne, John Brashares, Ann Brooks, Geraldine Burgess, Anthony Camus, Albert Carroll, Lewis Chabon, Michael Conrad, Joseph Cormier, Robert Courtenay, Bryce Dahl, Roald Dickens, Charles Dickens, CharlesTitle Does My Head Look Big In This? Ten Things I Hate About Me Things Fall Apart Little Women Twisted The Handmaid’s Tale The Clan Of The Cave Bear Peter Pan Circle Of Friends The Boy In The Striped Pyjamas Sisterhood Of The Travelling Pants March A Clockwork Orange The Plague Alice in Wonderland The Amazing Adventures Of Kavalier And Clay Heart Of Darkness The Chocol ate War The Power Of One Matilda Oliver Twist A Tale Of Two CitiesDostoevsky, Fyodor Doyle, Roddy Dudus, Andre Duff, Alan Dumas, Alexandre Evans, Alwyn Flanagan, Richard Frank, Anne Franklin Miles Gallico, Paul Galloway, Steven Galsworthy, John Golden, Arthur Greene, Graham Grenville, Kate Gwynne, Phillip Hardy, Thomas Hawthorne, Nathaniel Herbert, Xavier Hinton, S. E.Hoseini, Khaled Irving, John Jones, Lloyd Joyce, James Kafka, Franz Kazuo, Ishiguro Keneally, Thomas King, Stephen Lee, Harper Leonie, Norrington Lette, Kathy Lomer, Kathryn London, Jack Malouf, David Marchetta, Melina Marsden, John Martel, Yann McBride, James McCaffrey, Kate McCullers, Carson Meyer, Stephenie Mitchell, Margaret Monica, Hughes Montgomery, L. M.Morrison, Toni Morton, Kate Niffenegger, Audrey Niland, D'Arcy Nunn, Cameron Oates, Joyce Carol Crime And Punishment Paddy Clark Ha Ha Ha House Of Sand And Fog Once Were Warriors The Count of Monte Cristo Walk In My Shoes The Sound Of One Hand Clapping The Diary of Anne Frank My Brilliant Career The Snow Goose The Cellist Of Sarajevo The Forsyte Saga Memoirs Of A Geisha Brighton Rock The Secret River Deadly, Unna?Tess Of The D'Urbervilles The Scarlet Letter Capricornia The Outsiders A Thousand Splendid Suns The Cider House Rules Mister Pip Ulysses Metamorphosis Never Let Me Go The Chant Of Jimmie Blacksmith Carrie To Kill A Mockingbird The Last Muster Puberty Blues The Spare Room White Fang Remembering Babylon Looking For Alibrandi Tomorrow When The War Began The Life Of Pi The Colour Of Water Destroying Avalon The Heart Is A Lonely Hunter Twilight (Series) Gone With The Wind The Keeper Of The Isis Light Anne Of Green Gables Sula Forgotten Garden The Time Traveller's Wife The Shiralee Shadows In The Mirror Black Girl / White GirlO'Brien, Robert C. Orwell, George Picoult, Jodie Prichard, Katherine Rhys, Jean Rosoff, Meg Salinger, J. D Satre, Jean Paul Shields, Carol Shriver, Lionel Steinbeck, John Stoker, Bram Stowe, Harriet Beecher Swift, J onathan Tan, Amy Tan, Amy Thomas, Hardy Tolkien, J. R. R. Tolkien, J. R. R. Twain, Mark Uris, Leon Voigt, Cynthia Walker, Alice Walker, Alice Waten, Judah White, E. B. Winton, Tim Winton, Tim Zusak, MarkusZ for Zachariah Nineteen Eighty-Four My Sister’s Keeper Coonardoo Wide Sargasso Sea What I Was The Catcher in the Rye Nausea Unless We Need To Talk About Kevin The Grapes Of Wrath Dracula Uncle Tom’s Cabin Gulliver’s Travels The Joy Luck Club The Bonesetter's Daughter Jude, The Obscure The Hobbit Lord of the Rings; Fellowship of the Ring The Adventures Of Huckleberry Finn Exodus Homecoming The Color Purple Everyday Use (short story in â€Å"Complete Stories†) Alien Son Charlotte's Web Breath Dirt Music The Book ThiefNon-fiction Author Ali, Ayaan Hirsi Burroughs, Augusten Capote, Truman Crawford, Evelyn Cunxin, Li Davis, Donna Deveson, Anne Facey, Albert Filipovic, Zlata Frank, Anne Gardner, Chris Hamlin, Catherine Keller, Helen Latifa Lowenstein, W Mah, Adeline Yen Mandela, Nelson McBride, James McCourt, Frank McCourt, Frank Mellor, Doreen Morgan, Sally Nannup, Alice Nazer, Mende Pelzer, Dave Pilkington, Doris Plath, Sylvia Rasool, Kay Read, Peter Skrzynecki, Peter Sykes, Roberta Thompson, L Turnbull, Sarah Williams, Donna TitleInfidel Running with scissors In cold blood Over my tracks Mao’s last dancer Sins of the mothers Tell me I’m here A fortunate life Zlata’s diary: A child’s life in Sarajevo The diary of Anne Frank The pursuit of happyness The hospital by the river The story of my life My forbidden face The Immigrants Falling leaves A long walk to freedom The color of water: A black man’s tribute to his white mother Angela’s ashes ‘Tis Many voices: Reflections on experiences of indigenous child separation My place When the pelican laughed Slave: The true story of a girl’s lost childhood and her fight for survival A child named â€Å"It† Home to mother The bell jar My journey behind the veil Belonging: Australians, place & Aboriginal ownership Sparrow garden Snake cradle From somewhere else: People from other countries who have made Australia home Almost French Nobody nowhere Picture books AuthorAdams, Jeanie Allen, Pamela Baille, Alan Baille, Alan Baker, Jeannie Baker, Jeannie Bell, Helen Crew, Gary Cunxin, Li Dumbleton, Mike Gleeson, Libby Graham, Bob Graham, Bob Greder, Armin Grimm, Brothers Grimm, Brothers Jeffers, Oliver Killeen, Gretel King, Stephen Michael King, Stephen Michael King, Stephen Michael Le Guin, Ursula Le Guin, Ursula Lester, Helen Loh, Morag Marin, Gabiann Marsden, John Marsden, John Mattingley, Christobel Mattingley, Christobel McLean, Janet Miller, David Millman, Isaac Morimoto, Junko Morimoto, Junko Nilan, Kilmeny Norrington, Leonie Ottley, Matt Patterson, A. B. & Digby, Desmond Perrault, Charles Riddle, Tohby Stohner, Anu Tan, Shaun Tan, Shaun Tan, Shaun Title Pigs and honey Black dog Old magic Rebel! Belonging Millice nt Idjhil Memorial The peasant prince Downsized An ordinary day Greetings from Sandy Beach Spirit of hope The Island Hansel and Gretel Snow White Lost and found Cherry pie Henry & Amy Milli, Jack and the dancing cat Mutt dog! Tales of the Catwings Jane on her own Tacky the penguin The kinder hat A true person Home and away The rabbits The big swim The race Oh, Kipper Refugees Hidden childMy Hiroshima The night hawk star Two tough teddies You and me: Our place Requiem for a beast Waltzing Matilda Cinderella (and other tales from Perrault) The singing hat Brave Charlotte The lost thing Tales from outer suburbia The red tree Utemorrah, Daisy Vander Zee, Ruth Wheatley, Nadia Wild, Margaret Wild, Margaret Zamorano, Ana Do not go around the edges Erika’s story Luke’s way of looking The very best of friends Woolvs in the sitee Let’s eat Plays Author Davis, Jack Ibsen, Henrik Kafka, Franz Maris, Hyllus & Borg, Sonia Miller, Arthur Pinter, Harold Shakespeare, William Wil liams, Tennessee Title Barungin: Smell the wind Hedda Gabler The trial Women of the sun Death of a salesman The caretaker Othello The glass menagerie Poetry AuthorFrost, Robert Murray, Les Anonymous Wright, Judith Wright, Wright , Judith Dawe, Bruce Wright, Judith Tennyson, Alfred Kendall, Henry Eliot, T. S. Frost, Robert Mackellar, Dorothea Wright, Judith Plath, Sylvia Auden, W. H. Wright, Judith Title Acquainted with the night An absolutely ordinary rainbow Beowulf Bora ring Eli, Eli The dark ones Enter without so much as knocking Half caste girls The lady of Shallot The last of his tribe The love song of J. Alfred Prufrock Mending wall My country Nigger’s leap Paralytic Refugee blues River bend Film & television Amistad Beauty and the beast Bend it like Beckham Charlie and the chocolate factory Crocodile Dundee Dead poet’s society Easy rider Edward Scissorhands E. T. the extra-terrestrial Finding Forrester Finding Nemo Fried green tomatoes Gandhi Grease Hairspray Ha ppy feet High noon Hotel Rwanda How to make an American quilt Life is beautiful Little Miss Sunshine Lord of the flies Man from Snowy River Mean girls Memoirs of a geisha Muriel’s wedding My big fat Greek wedding My brilliant career Neverending story Oliver Twist Once were warriors Piano, The Priscilla, queen of the desert Rebecca Scales of justice Schindler’s list Sound of music Storm boy Sum of us Sweeney Todd Titanic To kill a mockingbird To sir with love Trainspotting Transamerica Tristan & Isolde Twilight V for vendetta Waterfront Watership down Whale rider What’s eating Gilbert Grape Wizard of Oz Documentary Film & Television Bowling for Columbine Darwin’s nightmare First Australians – SBS series

Explanatory Essay on Horticulture

The world would not be the same without these people and these labor-Intensive positions wouldn't be nearly as unofficial without the application of Horticultural practices. Horticulture has been the heart of humanity since the dawn of civilization, what else could bring people to depend on each other than the essentials of life, food and water. Horticulture has always provided food and water to the masses from the first hunter-gatherers to today's corn farmers.These examples are very different from each other but embody the same values. Some common entry-level jobs in the Horticulture industry that will be available to me after graduating are lawn care specialist, golf course attendant, landscaper, city and county work, and greenhouse attendant. There are countless more entry-level positions available I just named a few of the popular choices. Other than the satisfaction of providing a fruitful service to society Horticulture can help you grow on personal levels.Providing you with a n active lifestyle that pays dividends, Horticulture is a healthy way to make money. A horticulturist will have learned patience and developed a higher value of time management while on the lob. The study also gives me the tools to provide food for myself and someday my family. Never will I completely depend on others to nourish me. In conclusion between the sheer amounts of career opportunities along with personal growth I see nothing but positive outcomes from acquiring an Associates Degree in Landscape, Plant, and Turf Management.In Just two short years I will have an education I can trust to provide me with a comfortable Income, the knowledge to feed my community, and the ability to beautify the world around me using material provided by the earth. Whether In times of trouble or prosperity there will be a need for Horticulturists. The Green Industry will never disappear, but only become more chemical, with advances In science and medicine ever on the horizon the need for me and students like myself to be providing material will never cease.With rolling world populations a steady food supply and dwindling natural settings have never been more Important. Word Count: 424 Words Explanatory Essay on Horticulture By onionskin career or a great backup plan to your primary career choice. Most Jobs in the Green Industry are relatively concrete positions within society such as farmers, landscapers, without these people and these labor-intensive positions wouldn't be nearly as ACH other but embody the same values. Some common entry-level Jobs in the attendant.There are countless more entry-level positions available I Just named a job. The study also gives me the tools to provide food for myself and someday my an education I can trust to provide me with a comfortable income, the knowledge to provided by the earth. Whether in times of trouble or prosperity there will be a need technical, with advances in science and medicine ever on the horizon the need for me and stud ents like myself to be providing material will never cease. With rising been more important.

Memorandum Essay Example | Topics and Well Written Essays - 750 words - 2

Memorandum - Essay Example The agreement between the parties was solely directed towards the two parties involved innovative cancer treatment and the hope hospital. The exhibits bearing proof to this consent are the claimant’s exhibit number 6,which is the sales and licensing agreement of the two parties involved. An active scanning technology equipment was purchased by the seller and a license showing that the equipment was indeed sold was issued out. The license also revealed the terms to which the claimant was entitled to and their permanent use of the software equipment sold. In addition, the exhibit also show cased that the claimant was expected to co-operate in the development of the software equipment purchased by the buyer. A copyright of the agreement was also availed to innovative cancer treatment allowing them to sell the software equipment under their ownership and without bearing any liability. The claimant was also entitled to file a case against the purchaser in cases where the agreement is neglected or not followed in the courts of Mediterraneo which was within their jurisdiction. Claimant’s exhibit number 7 also attest to the agreement between the two parties. It clearly states that innovative cancer treatment did not stick to the terms of the agreement. They sited that the engineers who were tasked with ensuring the effective operation of the software equipment did not play their role as they did not check the equipment for repair of defective parts. Secondly, the exhibit also states that the sold software could not perform as guaranteed since an example was that room number was left unused because patients did not receive effective health care services of treatment from the software equipment. Lastly, the exhibit also pointed that hope hospital was running on losses is stead of finding the use of the equipment cost effective as promised by the seller,

Followership Research Paper Example | Topics and Well Written Essays - 1250 words

Followership - Research Paper Example They eagerly take up extra work but at first they perform an extraordinary work in their core responsibilities. They prove themselves to be good judges of their own powers and flaws and are able to contribute well to the team (Johnson, 2009). If they know that they can succeed well they don’t mind coming across failures. They keep on searching for problems that remained unnoticed. They tend to see their coworkers as colleagues instead of thinking them to be entrants. An effective follower must possess certain qualities such as; they are capable of managing themselves well, they tend to be courageous, innovative and honest and dedicated towards organization (Kupers, 2007). Self management is another ability of an effective follower – the ability to work efficiently without being under any supervision. Good followers are those people to whom the leaders can entrust responsibilities. Good followers possess quality to see themselves as equals of the leaders they follow. They are liable to disagree unapologetically with leadership and are not likely to be overawed by the organizational structure. Ineffective followers on the other hand are prepared to obey others unquestioningly, dither between distresses over their powerlessness and make an attempt to juggle leaders to fulfill their own purposes (Yung, 2013). Their fear of powerlessness becomes a self fulfilling prognosis for the individual as well as the work group. Or their hostility drags them to undermine the goals of an organization. A significant cost advantage is received by an organization where there exists a self managed manager. There is a major role of followers towards organizational prosperity. Followers are believed to be furnished with complex thinking and innovative skills which if contributed to an organization can drive it towards success. People initiate in an organization as a follower. Followers tend to process good ideas and vision which they need to sell to

To What Extent are Single Mothers a Drag on Society Essay

To What Extent are Single Mothers a Drag on Society - Essay Example This has been mainly because of the fact that a large number of single mothers also have to work to earn a living for their children and despite having jobs, it has been found that it is still difficult for them to make ends meet. Â  Studies that have been conducted in recent years have shown that the presence of a father in a child’s life is extremely important in ensuring that they develop in a proper environment where they feel safe. However, the lack of paternal presence in the lives of children can be very difficult for these children and it has been found that a large number of children brought up by single mothers end up being delinquents. This is mainly because of the fact that many mothers are often out working in order to make ends meet and because they have no partner to spend time with the children and guide them when they are away, it creates a situation where children come into the influence of their peers (Son & Bauer, 2010). The result is that a large number of children end up getting involved in drug abuse and crime from an early age and this is because of the mental deficiency that comes about because of the lack of one parent. While it is highly commendable for single mothers to work hard to support their children, this is often also counterproductive because they spend too much time from their children, ensuring that there is a lack of communication between them (Christopher, England, Smeeding & Katherin, 2002). This is where the presence of a father is important because even though both parents may work, at least one of them will be able to spare time to spend with the children and this makes it possible for the children to appreciate their presence. In addition, the presence of two working parents ensures that there is more income for the family, resulting in less need to work long hours to make ends meet.

Film analysis assignment Essay Example | Topics and Well Written Essays - 1250 words

Film analysis assignment - Essay Example People have their own opinions and standpoints, they see things differently. It is difficult to say, who is right or wrong, because men and women are very different in many ways. In these scenes Harry and Sally try to change each other. One of the sidetracks, Let’s call the whole thing off, goes â€Å"You like potato I like potahto you like tomato I like tomahto.† This song supports Harry and Sally’s meaningless argument. After they spend much time together, Harry and Sally understand each other better. In the batting cage scene, Harry says â€Å"It’s just different. It’s a whole different perspective. I get a woman’s point of view on things.† The movie viewers can feel that Harry was changed. In the final scene, Harry says that he loves all Sally’s weird behaviors. Both of them try to change each other, but then they listen and understand, thus a friendship becomes true love. The topics of the plot of the movie are constructed chronologically. The first topic begins when Harry and Sally just graduated from the University of Chicago and they share a car to go to New York to find a new live. As soon as they arrive at Washington square, they say goodbye by handshaking not knowing even where each goes. The second topic begins when they meet in the airport five years later. Sally tells Harry that she and Joe are in love, and Harry tells Sally that he is getting married. The third topic begins when they met by chance at a book store five years later. They are going through difficult times because Sally broke up with Joe and Harry divorced. Harry and Sally become friends. Since they live in the same city, they spend much time together. As a result they understand each other better. Dialog is the main tool to lead the story, however there is narrative scene that Harry is alone on the New Years Eve, while Sally is in a party having a terrible time with a man. Har ry walks down the street at night trying to convince himself that

Hired as a political consultant to pick a party and outline its Essay

Hired as a political consultant to pick a party and outline its chances of winning - Essay Example The development of the blanket primary was as a result of the enactment of the Top two candidates Open Primary Act. The rule of the law was to develop a system that encourages competition among the participants and encourage the development of increased participation between the people of California. The act gives an opportunity for a candidate to advance into the general elections using the majority votes (Arnold 56). However, the law has not lived up to its expectation because of several challenges. It increased election spending because the election campaign period was extended to one year. From the research, conducted on the new enactment may lead to the development of increased power of the particular interest groups that fund the participants. The resultant effect of the blanket primary was the establishment of the same party candidates battling in the general elections which affected the success of the parties in the election process (Karol 43). In the past elections, the demo crats had seven candidates, and it led to increased competition. The political history of California District The district was created in 3rd January 1963 and has redistricted several times since its creation. However, the political climate of the district indicates strong affiliation to the Republican Party. The first two representatives were from the Republican Party, but were later followed by a reign of two Democratic representatives. Since then, the district has oscillated between republican and democrat and is currently under the leadership of Janice Hahn a democrat. Looking back at the last elections republicans led to the development of ideas and strong belief that the next election will have a republican representative taking over. The democrat reign in the House of Representatives will come to an end in the next election because there is a likelihood of the voters to change party from Democrat to Republican. However, from the trend illustrated above there is a high likelih ood of the voters, to vote in a republican representative. However, on the recent times,, the Democrat has benefited in winning the house of representative several times because of the consistency developed (Bishin 34). However, the population is getting tired with the increasing democratic representation. However, one vital issue evident in the election is that the president, governor, and house of representative votes of the district has shown similarities in the sense that; in most cases, they vote in the same party for president and governors. The success of the whole process of the campaign will be dependent on the ability to address issues of governance such as leadership and development. The success of a candidate depends on the ability to address the issues of the district differently from the set performance. Success will be if the candidate offers insight into the social issues. Current situation of the district The district was the 9th competitive congressional primaries in 2012 with the focus being the focus of the situation is based on the ability to solve the district problems. The success of the current candidates is based on the successful campaign process developed by the candidate. The success of the candidates in articulating the social issues was vital model for success. For a Republican Party candidate with the focus to win the next electio

MGMT438 U4P Training Needs Research Paper Example | Topics and Well Written Essays - 500 words

MGMT438 U4P Training Needs - Research Paper Example The training facilitators will use lecture method and videos during training sessions. The lecture method will involve presenting the theoretical concepts of salesmanship to the new salespeople. The content here will include introduction to sales, theories of sales, strategies for approaching customers, and ways of explaining product features to customers. The videos will play real scenarios as they happen in real sales contexts. The training will also use discussion method; these will enable participants to share ideas and facilitate exchange of knowledge and experiences. There will be a final hands-on exam for evaluating the salespeople. The entire training will last for eight days. There will be six facilitators, both from the company and experts from consultant companies. The trainees will be required to sign in their names as they enter the training room. Interested participants will receive emails invitation at least ten days prior to commencement of the training. The participants will be required to confirm their availability by replying to the

Capstone Essay Example | Topics and Well Written Essays - 1000 words

Capstone - Essay Example Some of them have also highlighted the cause of the US- Iraq war and related matters for initiating such terror attacks. India is reportedly known to produce more films relating to such matter compared to any other countries (Altheide, 135). The conveyed message clearly is same for these kinds of movies. Thus all individuals belonging to Islam religion should not be looked upon as terrorists and tortured or killed. The paper intends to support such an argument by making a thematic analysis of some of the well known Bollywood movies picturized upon portrayal of Islam in America after the 9/11 terror attacks. The violence and bloodshed associated with 9/11 terror attacks that caused the collapse of World Trade Center was so huge that many would find it really difficult to describe. Post 9/11 attacks Arabian nationality and Islam religion have become a historical phenomenon. Media particularly Bollywood cinema has always considered portrayal of Muslims as a topic of great interest. Usin g the mass influential power of media Bollywood has taken this opportunity to make cinemas representing the Islamic followers above the villains or ‘bad guys’ and has claimed for accepting the innocence of ordinary followers of Islam (Balraj). Some of the cinemas on such a theme are ‘My Name in Khan’, ‘New York’, ‘Kurbaan’ and ‘Tere Bin Laden’. Bollywood Cinema and Portrayal of Islam in America The movie ‘My Name Is Khan’ directed by Karan Johar is a story of a Muslim guy named Rizwan Khan who has experienced struggles right from his childhood for his disabilities and mainly because of his identity of following the Islam religion. His journey for meeting the president has been highlighted in the movie where he encounters misbehavior and strip checking on account of being a Muslim. ‘My Name is Khan and I am not a terrorist’ has been the tagline of the movie appealing to the Americans to accept the innocence of followers of Islam. The theme of acceptance of innocence for the Muslims has been established in this movie at the tremendous torture and losses that Islamic people have suffered post 9/11 terror attacks. The terror incident had developed a kind of hatred for the people with Islam religion but such an anti Muslim violence hurting hundreds of innocent people have been claimed as a complete senseless act (Dhume). The overreaction of the Americans after the 9/11 terror attacks has been shown in another Bollywood movie ‘New York’ released in 2009 under the banner of Yash Raj Films. The torture to the innocents simply because of being followers of Islam religion has been the base of the storyline. It is true that Americans after these terror attacks have haunted hundreds of Muslim lives in the name of investigation. The torture and misbehavior in jail that has been portrayed against Islam followers in this Bollywood is intolerable even on television screen. It is a tragedy that hundreds of innocent Muslim people actually tolerated all this during conviction. Bollywood cinema has been able to gather sympathy for the Muslim people through such touching and tragic movies. Mass opinion has been in favor of the fact that treatment of Islam and their followers after such terror attacks is a national shame for Americans. The movies highlighting the political views on terrorism

Slavic civilization Term Paper Example | Topics and Well Written Essays - 2000 words

Slavic civilization - Term Paper Example This gave them a solid ground and an opportunity to win more souls. This essay therefore aims at looking at the spread of Islam in the Balkans gauging the period from which Islam began to have rather a strong impact on the Slavic in the Balkan. It is therefore very difficult to speak about Islam in various parts of Europe and Asia without reflecting on a brief history of the spread of the Slavic people. The Slavic are an Indo-European speaking people who migrated to various parts of Europe. Presently, they occupy various parts of Central Europe, northern Europe, and southern Europe. They also occupy parts of central and northern parts of Asia. The word Slavic is a term derived from the word ‘slovo’,1 meaning- people who speak the same language. Originally, the term Slavic was used to refer to a people who had common language or culture. The Slavic speaking people are believed to have originated from somewhere in Danube River as shown by that term. The people they were ex posed to when they were travelling regarded the Slavonic people as backward. One reason why they were viewed as primitive was because of the places they inhabited. Early historians believe that the Slavonic majorly inhabited swampy places and those places that were near rivers and lakes. The Slavonics were organized into groups and had no one ruler. They lived a democratic way of life in their social structure, each living in harmony with his neighbor2. They were monotheists, believing in one god, the god of lightning. They sacrificed to this god of lightning majorly cattle, of which they chose the best among what they had. Going by their description, the Slavonic were tall people, who were very hardy and mostly trounced their opponents in battle. Historically, whenever they went to battle against their opponents, they could engage them in a fierce battle, fighting unanimously. This was contrary to how they lived. They lived in isolation but they could approach battle as one, fighti ng a common enemy. Their mode of fighting was unique. They could role the helm of their trousers nearer to their private parts, and bare-chested. They did not have any problem in identifying themselves when in battle. They were almost similar in appearance given their gigantic nature and the way they shove their hair, almost blonde. Guided by the scriptural teachings of Koran, the Muslims took their mission to various parts of the world, including to the Slavic people. The Muslims believed that they had an obligation to defend their religion. This formed the basis of fighting to convert people to the new faith. They believed that it was their right; as Prophet Mohammed required that Islamic faith was to be guarded3. This could be the reason why they waged wars, wars they commonly called Jihad (holy war) before it lost its meaning. The Jihad war was waged just to protect the Islam religion from losing its influence. It was believed to be one way of ensuring that other rival religions especially Christians do not influence win over the already converted Muslims. The spread of Islam in Europe began with the imprisonment of one Muslim who much later was given a mandate to teach. He taught Islamic religion to many people who were later converted to Islam. It must be acknowledged that the spread of Islam did not take place effectively through war. People easily got converted voluntarily through teaching than when war was used. This explains why it was voluntary teaching that helped

National campaigns Essay Example for Free

National campaigns Essay Walker Crisps control the largest part of the crisps market in the United Kingdom, but lost significant market share three years ago when consumers began turning to other forms of snack. Furthermore, as the populace is made increasingly aware of the poor nutrition of some snack foods, the high salt content, and high fat content, they appear to be turning away from brands perceived as less healthy. Unfortunately, despite a revamping of products in 2006, most crisps products are viewed as less healthy and nutritious than alternatives such as cereal bars. National campaigns designed to improve the quality of school lunches were effective at turning parents away from crisps as a lunchbox staple and adult health campaign have lead people to consider other snack options including fruits, nuts, yogurt and cereal bars. In addition, there is some indication that a declining birth rate has also negatively impacted demand for crisps as they tend to be most popular among the males in their teens and early twenties. Older and more affluent snackers choose other options including specialty, private label crisps, corn-based snacks and gourmet crisps with exotic flavors. It also seems clear from evidenced reported by Mintel analysis of the snack food market that there are some areas in which crisps cannot compete, as some consumers, particularly women seem attached to chocolate and sweet biscuits as a preferred indulgent snack. And, there is a marketing nightmare brewing. While crisps must shed their image as fatty, over-salted snacks with no nutritional value if they are to maintain their market share in a health-conscious environment, evidence suggests that men in particular do not want to eat something labeled as â€Å"diet† or â€Å"healthy†. The key appears to be a serious media campaign to change the way people think about crisps. Evidence suggestions that the three trends most likely to impact the crisps market are: a desire to purchase healthier snacks, a desire for classier snacks, and a desire to eliminate snacking in general. The Move toward Healthier Snacks The evidence is clear that the trend in snacking is to find healthier alternatives. Walker crisps was able to regain some of its lost market share in 2006 with the introduction and promotion of healthier, â€Å"baked† varieties, but still faces an uphill battle. In a recent poll, nearly half of the consumers questioned said they would be willing to spend more to be able to buy foods that were free from chemical additives (Mintel, 2007). Since many so-called â€Å"diet† foods are laden with chemicals ranging from preservatives to artificial sweeteners, this may be a market niche that Walkers could exploit with an all-natural crisp. However, it will take a serious marketing campaign to educate consumers about the â€Å"dangers’ hidden in other snack foods. Mintel’s analysis of Walkers marketing expenditures over the last three years has indicated that they have begun to see the value of print advertising that explains the benefits of their newer, â€Å"healthier† product lines. However, it seems likely that Walkers will have to consider a new multimedia advertising campaign that redirects the way people think about crisps. A strict marketing campaign that shows crisp consumption as part of a healthy diet could also help the company retain market share. Currently, consumers are increasingly turning to other snack options in the belief that they are healthier than crisps. It might be advantageous to do a head to head comparison between crisps and several other snacks demonstrating the relative fat content, calories and other nutritional information. For example, the Mintel study showed that 23 percent of consumers snack on cereal bars, often in the belief that they are a healthy sack. However, reading a product label makes it clear that the average cereal bar has as many calories and carbohydrates as a bag of baked crisps. Walkers also needs to continue with current advertising campaigns which explain the change in oils used to create the crisps and the reduction in salt. All of these combined attacks on accepted nutritional ideas can help to recreate crisps in the minds of the consumer. Furthermore, Mintel analysis shows that consumers are less likely to buy branded products or healthy products when buying for use in entertaining. As part of their overall health campaign, Walkers might want to consider an advertising campaign similar to the ones used by American beer companies. â€Å"Friends don’t let friends drink bad beer† could become something along the lines of â€Å"Show your friends you have great taste, buy walker crisps. † Though the concept is a bit loose, it could be refined and would likely results in increased sales for Walkers. The Move to Classier Snacks Another interesting trend within snack food is the move toward hand-cooked or gourmet crisps. These premium brands tend to be smaller manufacturers instead of multinational corporations like Walkers, which is a division of PepsiCo. These brands are gaining in popularity among more affluent, educated consumers. They have shown a preference for exotic flavors like â€Å"Thai sweet chili† and sea salt and malt vinegar instead of the standard crisps (Mintel, 2007). To that end, it is in the best interest of Walkers to continue to expand their line of premium crisps and to develop new flavors that are likely to appeal to consumers. Within this market, it is also important to appeal to the health conscious consumer, so any effort that can be made to create these new flavors using infused oils and natural spices instead of something cooked up with chemicals is a plus (Mintel, 2007). These consumers are more educated and therefore more likely to be well-informed about the products that they are putting into their bodies. These consumers are in many ways the perfect target for an educational advertising campaign which asks why they are depriving themselves of the textures and flavors they love just so that they can eat a cereal bar that tastes like cardboard. This is also a good market to explore because this demographic is less concerned about the price and more concerned about giving themselves a special treat. Often, hey view everything they eat, drink and wear as a form of status symbol and Walkers would do well to establish their premiums brands within this niche. An advertising campaign that reminds consumers that doing something nice for themselves should also taste good would play well to this demographic. The Move Away from Snacking As part of a health-consciousness campaign, citizens of the United Kingdom are being taught that snacking between meals is leading to the Britain’s obesity problem and should be cut out (Mintel, 2007). According to the Mintel poll, fewer people every year admit to eating between meals. While this may be a factor of people not admitting to themselves what their true behavior patterns are, it can mean that they are not planning ahead for snacking and not purchasing traditional snack foods like crisps. One of the best ways to deal with this would be another form of reeducation for the populace. Though dietary requirements are in an ever-changing state of flux as science learns more and more about how the body works, many diets argue that five or six small meals a day maintain blood sugar levels better than the traditional three meals a day. So, even if the addition is simply mid-morning and afternoon tea, Walkers and other snack providers need to change the way the United Kingdom thinks about snacks. Again, the goal is not to have crisps replace full meals like breakfast, but crisps with tea might be a marketing ploy that Walkers could successfully market especially in terms of their premium, exotic brands. Acknowledging that they are competing with scones and sweet biscuits and everything else for every moment the consumer chooses a snack is imperative to Walkers efforts to maintain their market share. Conclusions The simple truth is that snack foods are facing an increased amount of competition every day with more and more companies looking for alternatives to the standard potato crisp. Therefore, companies which rely on crisps as a major segment of their brand identity must find new ways to market and appeal to consumers. Since we have established that current buying behavior seems to be based on perceived nutritional value, perceived class and the perception that snacking makes you fat, an aggressive marketing campaign designed to challenge these notions and change them is necessary. Walks must change the perception of crisps as an unhealthy waste of calories and a blase snack. They must jazz it up and create a desire for people to incorporate crisps into their daily diet. Otherwise, they will continue to watch their market share slip away. WORKS CITED â€Å"Crisps and Snacks†, Mintel Reports, May, 2007.

Effect of Macroeconomic on Stock Return

Effect of Macroeconomic on Stock Return This research paper is conducted to measure and analyze the effect of macroeconomic on stock return of industrial product sector as compared to performance of Kuala Lumpur Composite Index. Several variables will be used to identify the relationship between the dependant variable which are three pre-specified macroeconomic variables the term structure of recession, interest rate, exchange rate and stock price movement that might give impact to the independent variable which is listed stock of industrial product sectors components in Kuala Lumpur Composite Index. Holding Period Return method will be used to measure the impact dependent variables to independent variable in this research. Secondary data will be used for this research paper, which are about 50 companies in industrial product sectors components that listed in Kuala Lumpur Composite Index; will be acknowledged as the sample for the previous year period from 2005 until 2009 to measure the performance of the sector in economi c condition during the period. It is expected that during the period, the industrial sectors performance that listed in Bursa Malaysia maybe will be affected by the economic condition during the period which will give impact on their stock return. CHAPTER 1 INTRODUCTION 1.0 INTRODUCTION Macroeconomic and stock prices are difficult to predict most of the times. These changes it appears that reflect the shifting demand for that stock or changing facts that it because of expectations of a companys profitability or some of government policy that effect on stock. Therefore, investors speculate how stock are determined most of them will look for to inexpensive share or expensive share with low price earning. Shares in most large established corporations are listed on organized exchanges like the Bursa Malaysia or Shanghai Stock Exchange. Every time a stock is sold, the exchange records the price at which it changes hands. If, a few seconds or minutes later, another trade takes place, the price at which that trade is made becomes the new market price, and so on. Organized exchanges like the Bursa Malaysia will occasionally suspend trading in a stock if the price is excessively volatile and also must legalize trade according their regulation, if there is a severe difference between supply and demand or if they suspect that insiders are intentionally manipulating a stocks price. But in ordinary circumstances, nobody is on purpose to control price. The market price of a stock is basically the price at which a keen buyer and seller agree to trade. Price is volatile when the enormous volumes of stock traders are made awake of professional traders who buy and sell shares each and every one day long. Since these traders do not grab stocks over the long pull, they are not terribly interested in such long-term considerations as a companys profitability or the value of its assets. Or rather, they are interested in such factors mostly trusty as news that would affect a companys long-term prospects might cause other traders to buy the stock, causing its price to raise. If traders believe that others will buy shares, then he/she will buy as well, hoping to sell when the price rises. If others believe the same thing, then the wave of buying pressure will, in fact, cause the price to rise. This trend will continue forever. When we look back to the famous economist John Maynard Keynes which has revealed the economic principle had compared the stock market to a competition then popular in British tabloids, in which rival had to look at photos and choose the faces that other contestants would choose as the prettiest. Each contestant had to look for photos â€Å"likeliest to catch the imagination of the other competitors, all of whom be looking at the difficulty from the same point of observation. similarly, stock traders try to speculation which stocks other traders will buy. The successful trader is the one who anticipates and outfoxes the market, buying prior to a stocks price rises and selling before it falls. 1.0.1 Screening criteria of KLCI Investor can only invest in stocks through a stock exchange, an organized marketplace where stocks are bought and sold under strict rules, regulations and guidelines. KLCI has over 30 listed companies offering a wide range of investment choices to local and global investors. Companies are either listed on Bursa Malaysia Securities Main Market or ACE Market. The Stock Market was created by companies wishing to raise capital for their business. When someone says they have a listed company they indicate listed on Bursa Malaysia. All companies need cash to take advantage of growth opportunities. Many start-up companies however find themselves short of capital to fund expansion. One way to acquire this cash is to publicly float the company. This involves selling part of the company to private individual and institutional investors who are then able to freely exchange these stocks on an open market Most huge matter regarding to the criterias are, high market capitalization on stock itself, it reflects how much share have been issues and its price per share. Blue chip company is resistance to weak market and it has permanently growth for example nestle it has stable growth in term of profit and cash flow. 1.0.2 History of stock Market The Kuala Lumpur Stock Exchange which was incorporated on December 14, 1976 as a company limited by guarantee took over the operations of KLSEB in the same year. The Kuala Lumpur Stock Exchange Berhad was demutualized pursuant to the Demutualization Act and converted into a public company limited by shares on January 5, 2007. Upon the conversion, the organization vested and transferred the securities exchange business to a new wholly-owned subsidiary, Bursa Securities, and became an exchange holding company and were renamed Bursa Malaysia Berhad on April 14, 2007. On 18 March 2005, Bursa Malaysia made its first appearance on the Main Board of Bursa Malaysia Securities Berhad. On 6 July 2009, the Composite Index has been replaced by FTSE Bursa Malaysia KLCI index which reflect the top 30 companies in the exchange. On 4 August 2009, the exchange has combined the main board and the second board into a single market which is called the Main Market. Mesdaq is also renamed into ACE market which provides lower listing requirements. 1.1 BACKGROUND OF STUDY Every time a share in, say, nestle is traded for example, the new price is used to revalue all outstanding shares-just as the value of your home appreciates when the house down the block sells for more than a similar house sold last week. But the value of your home wouldnt be so high if every house on your block were suddenly put up for sale. Similarly, if all ten billion outstanding shares even a small fraction of them-were put up for sale, they wouldnt fetch anywhere near the current market price. (Pirie and Smith, 2003) have say that relationships between accounting information, book values and share prices have significant implications for share prices in Singapore. Foreign exchange rate and interest rate risks are important financial and economic factors affecting the value of common stocks. Research by (King and Wadhwani, 1990) found that the volatility transfer hypothesis suggests that random shocks can induce higher volatility in financial markets and because of contagion effects which are highest in more volatile markets, investors may look abroad to invest in alternative financial assets. This study was aimed to point out whether the stock price behaviors and macroeconomic variables such as foreign exchange rate and interest rate is reflected in listed company stock return in the KLCI or not. Because one of them is accounting factor and other are economic factor. 1.2 PROBLEM STATEMENT The problem studied in this research is about the movement of the stock market and selected individual stock prices for investors usage. Caution should also be exercised in interpreting their results as the period of study includes the 2008 financial crises. It is possible that the severity of the crisis has influenced the statistical results. These papers empirically compares and see the share price of the companies before, during and after the recession and it covers only two macroeconomic factor that have give some effect to the stock return. During this period we will see the flow of the price movement in the market by using fifthly (50) listed company in property sector. Previous studies on stock market by Deshmukh et al (1983) banks can affect their exposure to interest rate and foreign exchange rate changes when they act as financial intermediaries for their clients. As such, their role as financial intermediaries can affect the sensitivity of investor assets and liabilities to interest rate and foreign exchange rate changes 1.3 RESEARCH QUESTION This research is conducted to inquire: 1.3.1 If there any changes of stock return on listed KLCI industrial company effect of macroeconomic? 1.3.2 If there any changes of stock return on listed KLCI industrial company effect of volatile market share price? 1.3.3 Which investment could offer better stock return to investor if using Holding Period Return? 1.4 RESEARCH OBJECTIVES This research is conducted to determine: 1.4.1 Macroeconomic factor have give impact to the stock return. 1.4.2 Changes of share price have give impact to the stock return. 1.4.3 The investment that could offer better performance using Holding Period Return. 1.5 SIGNIFICANCE OF STUDY This research is an observed study upon the macroeconomic factors and changes of stock price that give impact to the stock return of industrial product listed in KLCI. The study is significance for researcher, government and investors. Researchers can be benefit from this study by the information and acknowledge they from the previous to the current and future trend of movement either macroeconomic factors and changes of stock price that give impact to the stock return. As for the government, they can assist in organizing and stabilizing the economy to make the market will always gain some profit to the investors in attract more investment to come to Malaysia. Investors will gain benefit by knowing the current condition of Malaysia stock market as well as the shares before they can invest their pool of money in Malaysia especially in the industrial company. 1.6 SCOPE OF STUDY Macroeconomic and share price is the environment in which all firms operate. The ability to forecast the macroeconomic and share price can translate into spectacular investment performance. Some of the key economic variables are inflation, interest rate and exchange rate. In economics, a recession is a business cycle contraction, a general slowdown in economic activity over a period of time. During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes, business profits and inflation all fall during recessions; while bankruptcies and the unemployment rate rise. Recessions are generally believed to be caused by a widespread drop in spending. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation. High interest rates reduce the present value of future cash flow, thereby reducing the attractiveness of investment opportunities. For these reason, real interest rate are the key determinants of business investment expenditures because sensitive to interest rate affect to interest payment. The foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world. Some of the participants in this market are simply seeking to exchange a foreign currency for their own, like multinational corporations which must pay wages and other expenses in different nations than they sell products in. However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates, much like others would speculate on movements of stock prices. Currency traders try to take advantage of even small fluctuations in exchange rates. In the foreign exchange market there is little or no inside information. Exchange rate fluctuations are usually caused by actual monetary flows as well as anticipations on global macroeconomic conditions. Significant news is released publicly so, at least in theory, everyone in the world receives the same news at the same time. This study takes place in the subsistence of macroeconomic and changes of stock price in Malaysia as its field is the one to be explored. Moreover 50 listed companies were acknowledged as the sample for the previous five year period. The data of this research will be obtained from DataStream. 1.7 LIMITATION OF STUDY There are several drawbacks in pursuing this research. It includes: 1.7.1 Scope of study The research reference is restricted in the scope of Malaysia due to the field of study. As we know, Malaysia is an emerging country, thus the performance is still not matured compared with the developed countries, like the United States. 1.7.2 Period of the study This study is conducted by using the data from 2005 to 2009. Approximately 50 form 100 companies that listed in Bursa Malaysia, but not all the companies data was provided in that certain period. This constraint is affecting the calculation of portfolio performance. The length of the study also affected this study indirectly. This study used to use five years period of time. The result for five years study would be different if this study managed to use the longer period of time. 1.7.3 Secondary data In this study, we used the secondary data gathered from DataStream, Bursa Malaysia and the other articles references. Some of the data were not up to date to be the good references. For example, when we referred to Bursa Malaysia, some of the data is not currently in use and in DataStream; the problem was some of the data was not available (N/A). It became a limitation to the study because we cannot get the accurate result. 1.8 DEFINITION OF TERMS 1.8.1 KLCI Kuala Lumpur Composite Index or Bursa Malaysia is place where all sector company list their stock to get capital gain from investor that buy their stock. 1.9 SUMMARY There are many reason why this research been conduct but to know the real effect to the stock return many variable been use to meet the objective. For example interest rate, exchange rate, recession and stock price movement is the variables that have effect to the company or investor stock return. CHAPTER 2 LITERATURE REVIEW 2.0 INTRODUCTION Macroeconomics is a branch of economics that deals with the performance, structure, behavior and decision-making of the entire economy, be that a national, regional, or the global economy. Along with microeconomics, macroeconomics is one of the two most general fields in economics. Researcher study aggregated indicators such as GDP, unemployment rates, and price indices to understand how the whole economy functions. Macroeconomists develop models that explain the relationship between such factors as national income, output, consumption, unemployment, inflation, savings, investment, international trade and international finance. In contrast, microeconomics is primarily focused on the actions of individual agents, such as firms and consumers, and how their behavior determines prices and quantities in specific markets. 2.1 GENERAL LITERATURE REVIEW 2.1.1 MACROECONOMICS The effect of macroeconomic fundamentals on stock market volatility has generated a lot of interest. Research by Liljeblom and Stenius (1997) find that it is argued that if the value of corporate equity on the whole depends on the health of the economy, then uncertainty in macroeconomic conditions would affect volatility in stock returns assuming consistent discount rates. Studies have also shown that stock market volatility is driven by uncertainty in macroeconomic fundamentals Fama (1981, 1990), Fama and French (1989) and Chen et al. (1986). It is argued that there is an inverse relationship between interest rates and stock returns. Thorbecke (1997) and Smal and de Jager (2001) observe that a reduction in interest rates induces an injection of liquidity into the economy. This extra liquidity could be channeled to the stock market, driving up the demand and prices of stocks. Patelis (1997) notes that interest rate changes are helpful in predicting stock market returns over a long period. Thus, there is evidence to conclude that interest rate policies should also target stock market price movements. Goodfriend (2003) also notes that, since there is no stable correlation between stock-price returns and short-term interest rates, it would be difficult for interest rates to target stock-price changes appropriately. Bernanke and Kuttner (2003) also note that stock markets do not react much to interest rate changes. Throughout the years, the global economy has been transformed from a simplified financial architecture to a complex intertwined set of financial systems. From the Bretton Woods system to the advent of flexible exchange rate systems in 1973 until the present days, the environment of international markets had experienced substantial changes in the form of excessive variability in exchange rates, greater capital mobility and punctuated by a series of financial crises worldwide in recent years. Meese (1990) who studied the currency fluctuations in the post-Bretton Woods era found that the changes of macroeconomic variables alone could not explain major currencies movements. MacDonald and Taylor (1994) however noticed relationships between macroeconomic variables and exchange rate. A recent study by Rapach and Wohar (2002) meanwhile produced mixed results for the monetary model of exchange rate determination. In December, 2007 economic recession that began in the United States spread much of the industrialized world, and has caused a uncertainty of economic activity. This global recession has been taking place in an economic environment characterized by various imbalances and was sparked by the outbreak of the financial crisis of 2007–2009. However, Mitchell and Netter (1989) argue that the three-day decline preceding the crash was a large enough decline that it became the fundamental news and that shook the market. The theoretical model of Jacklin et al. (1992) (among others) shows how a surprise significant drop in the market could have provided information to the market that would directly lead to a crash. Among all macroeconomic factor stock price movement is also effect by changes in economic environments. CRR (1986) results are tested to see whether the factors priced in the US market are applicable in Turkey stock market, with adding new variable unemployment rate, because we expected a relation with the stock returns. 2.2 THEORETICAL FRAMEWORK Four factors are selected to test the relationships of these factors and stock return. The factors are recession, interest rate, exchange rate and stock price movement. 2.2.1 Recession Recession is one of the macroeconomic factors that effect to the listed company stock return in KLCI. Some of the researcher say that recession have give negative impact to stock return but some researcher found that recession is no relation with stock price. CRR (1986) shown that the tested macroeconomic variables do not affect the share price in the UK stock market. 2.2.2 Exchange Rate. Exchange rate is most been use by investor to do transaction to buy stock in market, because of that exchange rate is consider one of the factors that effect to the stock return. Movements of exchange rate are always a concern for various parties. In international currency markets, exchange rate plays a significant role and the variability of exchange rate, whichever way it sways, tends to give a significant impact on the economy. 2.2.3 Interest Rate. Interest rate also one of the factor that give impact to the stock return because some researcher say that interest rate give negative impact to the stock return. Anthony Kyereboah-Coleman and Kwame F. Agyire-Tettey (2008) mention that there negative real interest rates for extended period. 2.2.4 Stock Price Movement. Stock price move is most related to the stock return because every time changes in stock price effect to the outcome of stock return for investor investment but some of the researcher say that there is no effect on stock return. For example Martinez and Rubio (1989) tested the Spanish market return and they found that there were no significant pricing relationship between stock returns and the macroeconomic variables. 2.3 SUMMARY Literature review is the part where it shows where it show whether the variable will be strongly acceptance or not. From the previous study that has been done it has shown that, most of the variable has its own importance not only in affecting some issue but also in solving it. This literature reviews shows the effect of this study on the stock return as the dependent. It also has many researches done with the difference result. CHAPTER 3 METHODOLOGY AND DATA 3.0 INTRODUCTION This chapter discusses the research methodology used in the study. Methodology is one the important method that had been use to test the hypothesis on this study in order to get the finding at the end of the study. Research design and research methodology is most of the important part for this study since it provide a lot of useful information on how to get the data, how to conduct the survey and provide additional information in order to get better result and finding for this study. This chapter explains how the data for conduct the study is collected and carried out. It also explain on the method that is going to be use to get the finding at the end of the study. It also focus on the data sources, sample involved in the study and the methodology to be use in this study. In this study the variables that had been used was economic recession, exchange rate, interest rate and stock price which collected on the monthly basis for the period of 5 years ended in December 2005 until December 2009. This study consists of 50-industrial product firm and using time series period from 2005 to 2009. Focus for this study was more on the Regression Model analysis to test the finding. Since this study was investigate and identify the relationship between macroeconomic and stock price movement to profitability so using the regression data analysis model had done it for the past 5 years.. There are several key items such as data collection method, sampling frame, sources of data, variables and measurement, research design, theoretical framework, hypothesis statement, data analysis, and treatment which will clarify in detail in this chapter. 3.1 DATA COLLECTION The price indices at monthly frequency are collected for sectors in Bursa Malaysia: industrial product sector. All the closing prices of these sector indices sourced from the secondary data from Thomson Financial DataStream over five-year period from year 2005 to year 2009 (5 years). Meanwhile, for the independent variables of recession rate, exchange rate, interest rate and stock price will be extracted from Thomson Financial DataStream and Bank Negara Malaysia official release. 3.2 SAMPLING FRAME To secure an acceptable result, this study decided to use 50 samples out of all companies that went public and were listed on the second board within year 2005 to 2009. The decision to use this sample was due to the inability to collect more data due to the time constrain during research. Furthermore, this study wants to see the stock return for investor in industrial product sector. And at the same time, it also wants to observe the relationship between recession rate, exchange rate, interest rate and stock price. 3.3 SOURCES OF DATA The selected 50 stock sample being chose from the main board of BM KLCI .The data are collected on monthly actual stock price was collected from the Thomson Financial DataStream, which is provided the information about the companies financial situations over years. Each stock is already being issued from the companies issued until today. These samples were represented by 50 companies from the industrial product sector. 3.4 VARIABLES AND MEASUREMENT There are two types variables has been used in this study there are; the dependent and the independent variables. 3.4.1 Dependent Variables The dependent variable for this study is stock return of each company industrial product sector. 3.4.2 Independent Variables The independent variables will be measured by recession rate, exchange rate, interest rate and stock price. 3.5 RESEARCH DESIGN This research is designed to see the relationship between dependent variable with independent variables. In this study, it analysis in hypotheses testing that will explain the certain significant correlations between KLIBOR and Treasury Bills rates and the stock performance 3.5.1 Purpose of the Study The purpose of this study is to determine the relationship between all the dependent and independent variable. By using descriptive study can know relationship between both of variable. Descriptive study will be able to describe the characteristics of the variable of the situation. By using data from DataStream would be able to compare monthly return for each of the companies. Besides that, this study also can help investor to make decision making and offer the idea for future problem and research. 3.5.2 Types of Investigation The study involved the correlation study types of investigation. The study involves determining the important variable associated with the situation. The important variable is between the recession rate, exchange rate, interest rate and stock price. Correlation studies done in the study are called field studies. This studies will conducted to establish cause and effect to the stock return using the same measurement in the market are called field experiments. The experiment done to establish the cause and affect of the studies so that can make corrective action to make any decision in the investment. 3.5.3 Unit of Analysis In this study, the unit of analysis is group of company and also industry. The group of company that involve fifthly (50) of the properties companies that has been selected in the main board of BM KLCI. The companies selected depend on the year of the companies is establish. The industry that has been selected is recession rate, exchange rate, interest rate and stock price will be compare with the return of each companies return during 5 years. 3.5.4 Time Horizon This study will be use cross-sectional studies to make the research. A study will be done with the monthly data are gathered over five years (5) from year 2005 to 2009, in order to get the result about these studies. 3.6 THEORETICAL FRAMEWORK Research studies indicate that relationship between KLIBOR and Treasury Bills rates and stock performance. Dependent variable: Effect of company Stock Return Independent variables: Recession rate, Exchange rate, Interest rate and Stock Price Movement. Figure 1: Schematic Diagram (Relationship Diagram) Independent Dependent Company Stock return listed in KLCI Stock price movement Interest rate Exchange rate Recession rate According to the schematic diagram above, it can be explaining relationship between stock return with Recession rate, Exchange rate, Interest rate and Stock Price Movement. 3.7 DATA ANALYSIS AND TREATMENT Multiple Linear Regression Model are the statistical tools that been use in this study. This model analysis examine about simultaneous effect between Recession rate, Exchange rate, Interest rate and Stock Price Movement (independent variable) Stock Return (dependent variable) which variable give biggest effect on the dependent variable. Where; Y = Dependent variable which represent Actual Stock Performance = The constant number of equation = Coefficient Beta value = Independent variable which represent Recession rate = Independent variable which represent Exchange rate = Independent variable which represent Interest rate = Error r = (EV – BV) + DIV X 100 BVStock price movement will be measure in Holding Period Return to determine the effect on stock return Where; r = Represent Rate of return EV = Represent Ending Value or end of stock price BV = Represent Beginning Value or beginning of stock price DIV = Represent income or dividend of company 3.8 HYPOTHESIS STATEMENT Some changes will affect the each stock return to the companies. By changing the stock price will affect the return to the companies its self its might be go higher or lower than what it expected will be. To analysis and to test whether this is applicable to the Malaysian Stock Market, the hypothesis has been developing. Hypothesis 1 H0 = Company stock return in industrial product sector outperform than KLCI H1 = Company stock return in industrial product sector underperform than KLCI Hypothesis 2 H0 = Macroeconomic factor does has significant impact in stock return of each company in industrial product sector in KLCI H1 = Macroeconomic factor does not has significant impact in stock return of each industrial product sector in KLCI Hypothesis 3 H0 = Stock price movement does has significant impact in stock return of each industrial product sector in KLCI H1 = Stock price movement does not has significant impact in stock return of each industrial product sector in KLCI SUMMARY This study will be measure according the objective that has been established in earlier chapter. This research can be use to help investors to make the investment decision. Its because this studies focuses on the data from year 2005 until year2009, it will give better overview of each of the properties company in order to take any corrective action in facing the problem and also overcoming the problem in the current situation to make an investment decision. Effect of Macroeconomic on Stock Return Effect of Macroeconomic on Stock Return This research paper is conducted to measure and analyze the effect of macroeconomic on stock return of industrial product sector as compared to performance of Kuala Lumpur Composite Index. Several variables will be used to identify the relationship between the dependant variable which are three pre-specified macroeconomic variables the term structure of recession, interest rate, exchange rate and stock price movement that might give impact to the independent variable which is listed stock of industrial product sectors components in Kuala Lumpur Composite Index. Holding Period Return method will be used to measure the impact dependent variables to independent variable in this research. Secondary data will be used for this research paper, which are about 50 companies in industrial product sectors components that listed in Kuala Lumpur Composite Index; will be acknowledged as the sample for the previous year period from 2005 until 2009 to measure the performance of the sector in economi c condition during the period. It is expected that during the period, the industrial sectors performance that listed in Bursa Malaysia maybe will be affected by the economic condition during the period which will give impact on their stock return. CHAPTER 1 INTRODUCTION 1.0 INTRODUCTION Macroeconomic and stock prices are difficult to predict most of the times. These changes it appears that reflect the shifting demand for that stock or changing facts that it because of expectations of a companys profitability or some of government policy that effect on stock. Therefore, investors speculate how stock are determined most of them will look for to inexpensive share or expensive share with low price earning. Shares in most large established corporations are listed on organized exchanges like the Bursa Malaysia or Shanghai Stock Exchange. Every time a stock is sold, the exchange records the price at which it changes hands. If, a few seconds or minutes later, another trade takes place, the price at which that trade is made becomes the new market price, and so on. Organized exchanges like the Bursa Malaysia will occasionally suspend trading in a stock if the price is excessively volatile and also must legalize trade according their regulation, if there is a severe difference between supply and demand or if they suspect that insiders are intentionally manipulating a stocks price. But in ordinary circumstances, nobody is on purpose to control price. The market price of a stock is basically the price at which a keen buyer and seller agree to trade. Price is volatile when the enormous volumes of stock traders are made awake of professional traders who buy and sell shares each and every one day long. Since these traders do not grab stocks over the long pull, they are not terribly interested in such long-term considerations as a companys profitability or the value of its assets. Or rather, they are interested in such factors mostly trusty as news that would affect a companys long-term prospects might cause other traders to buy the stock, causing its price to raise. If traders believe that others will buy shares, then he/she will buy as well, hoping to sell when the price rises. If others believe the same thing, then the wave of buying pressure will, in fact, cause the price to rise. This trend will continue forever. When we look back to the famous economist John Maynard Keynes which has revealed the economic principle had compared the stock market to a competition then popular in British tabloids, in which rival had to look at photos and choose the faces that other contestants would choose as the prettiest. Each contestant had to look for photos â€Å"likeliest to catch the imagination of the other competitors, all of whom be looking at the difficulty from the same point of observation. similarly, stock traders try to speculation which stocks other traders will buy. The successful trader is the one who anticipates and outfoxes the market, buying prior to a stocks price rises and selling before it falls. 1.0.1 Screening criteria of KLCI Investor can only invest in stocks through a stock exchange, an organized marketplace where stocks are bought and sold under strict rules, regulations and guidelines. KLCI has over 30 listed companies offering a wide range of investment choices to local and global investors. Companies are either listed on Bursa Malaysia Securities Main Market or ACE Market. The Stock Market was created by companies wishing to raise capital for their business. When someone says they have a listed company they indicate listed on Bursa Malaysia. All companies need cash to take advantage of growth opportunities. Many start-up companies however find themselves short of capital to fund expansion. One way to acquire this cash is to publicly float the company. This involves selling part of the company to private individual and institutional investors who are then able to freely exchange these stocks on an open market Most huge matter regarding to the criterias are, high market capitalization on stock itself, it reflects how much share have been issues and its price per share. Blue chip company is resistance to weak market and it has permanently growth for example nestle it has stable growth in term of profit and cash flow. 1.0.2 History of stock Market The Kuala Lumpur Stock Exchange which was incorporated on December 14, 1976 as a company limited by guarantee took over the operations of KLSEB in the same year. The Kuala Lumpur Stock Exchange Berhad was demutualized pursuant to the Demutualization Act and converted into a public company limited by shares on January 5, 2007. Upon the conversion, the organization vested and transferred the securities exchange business to a new wholly-owned subsidiary, Bursa Securities, and became an exchange holding company and were renamed Bursa Malaysia Berhad on April 14, 2007. On 18 March 2005, Bursa Malaysia made its first appearance on the Main Board of Bursa Malaysia Securities Berhad. On 6 July 2009, the Composite Index has been replaced by FTSE Bursa Malaysia KLCI index which reflect the top 30 companies in the exchange. On 4 August 2009, the exchange has combined the main board and the second board into a single market which is called the Main Market. Mesdaq is also renamed into ACE market which provides lower listing requirements. 1.1 BACKGROUND OF STUDY Every time a share in, say, nestle is traded for example, the new price is used to revalue all outstanding shares-just as the value of your home appreciates when the house down the block sells for more than a similar house sold last week. But the value of your home wouldnt be so high if every house on your block were suddenly put up for sale. Similarly, if all ten billion outstanding shares even a small fraction of them-were put up for sale, they wouldnt fetch anywhere near the current market price. (Pirie and Smith, 2003) have say that relationships between accounting information, book values and share prices have significant implications for share prices in Singapore. Foreign exchange rate and interest rate risks are important financial and economic factors affecting the value of common stocks. Research by (King and Wadhwani, 1990) found that the volatility transfer hypothesis suggests that random shocks can induce higher volatility in financial markets and because of contagion effects which are highest in more volatile markets, investors may look abroad to invest in alternative financial assets. This study was aimed to point out whether the stock price behaviors and macroeconomic variables such as foreign exchange rate and interest rate is reflected in listed company stock return in the KLCI or not. Because one of them is accounting factor and other are economic factor. 1.2 PROBLEM STATEMENT The problem studied in this research is about the movement of the stock market and selected individual stock prices for investors usage. Caution should also be exercised in interpreting their results as the period of study includes the 2008 financial crises. It is possible that the severity of the crisis has influenced the statistical results. These papers empirically compares and see the share price of the companies before, during and after the recession and it covers only two macroeconomic factor that have give some effect to the stock return. During this period we will see the flow of the price movement in the market by using fifthly (50) listed company in property sector. Previous studies on stock market by Deshmukh et al (1983) banks can affect their exposure to interest rate and foreign exchange rate changes when they act as financial intermediaries for their clients. As such, their role as financial intermediaries can affect the sensitivity of investor assets and liabilities to interest rate and foreign exchange rate changes 1.3 RESEARCH QUESTION This research is conducted to inquire: 1.3.1 If there any changes of stock return on listed KLCI industrial company effect of macroeconomic? 1.3.2 If there any changes of stock return on listed KLCI industrial company effect of volatile market share price? 1.3.3 Which investment could offer better stock return to investor if using Holding Period Return? 1.4 RESEARCH OBJECTIVES This research is conducted to determine: 1.4.1 Macroeconomic factor have give impact to the stock return. 1.4.2 Changes of share price have give impact to the stock return. 1.4.3 The investment that could offer better performance using Holding Period Return. 1.5 SIGNIFICANCE OF STUDY This research is an observed study upon the macroeconomic factors and changes of stock price that give impact to the stock return of industrial product listed in KLCI. The study is significance for researcher, government and investors. Researchers can be benefit from this study by the information and acknowledge they from the previous to the current and future trend of movement either macroeconomic factors and changes of stock price that give impact to the stock return. As for the government, they can assist in organizing and stabilizing the economy to make the market will always gain some profit to the investors in attract more investment to come to Malaysia. Investors will gain benefit by knowing the current condition of Malaysia stock market as well as the shares before they can invest their pool of money in Malaysia especially in the industrial company. 1.6 SCOPE OF STUDY Macroeconomic and share price is the environment in which all firms operate. The ability to forecast the macroeconomic and share price can translate into spectacular investment performance. Some of the key economic variables are inflation, interest rate and exchange rate. In economics, a recession is a business cycle contraction, a general slowdown in economic activity over a period of time. During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes, business profits and inflation all fall during recessions; while bankruptcies and the unemployment rate rise. Recessions are generally believed to be caused by a widespread drop in spending. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation. High interest rates reduce the present value of future cash flow, thereby reducing the attractiveness of investment opportunities. For these reason, real interest rate are the key determinants of business investment expenditures because sensitive to interest rate affect to interest payment. The foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world. Some of the participants in this market are simply seeking to exchange a foreign currency for their own, like multinational corporations which must pay wages and other expenses in different nations than they sell products in. However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates, much like others would speculate on movements of stock prices. Currency traders try to take advantage of even small fluctuations in exchange rates. In the foreign exchange market there is little or no inside information. Exchange rate fluctuations are usually caused by actual monetary flows as well as anticipations on global macroeconomic conditions. Significant news is released publicly so, at least in theory, everyone in the world receives the same news at the same time. This study takes place in the subsistence of macroeconomic and changes of stock price in Malaysia as its field is the one to be explored. Moreover 50 listed companies were acknowledged as the sample for the previous five year period. The data of this research will be obtained from DataStream. 1.7 LIMITATION OF STUDY There are several drawbacks in pursuing this research. It includes: 1.7.1 Scope of study The research reference is restricted in the scope of Malaysia due to the field of study. As we know, Malaysia is an emerging country, thus the performance is still not matured compared with the developed countries, like the United States. 1.7.2 Period of the study This study is conducted by using the data from 2005 to 2009. Approximately 50 form 100 companies that listed in Bursa Malaysia, but not all the companies data was provided in that certain period. This constraint is affecting the calculation of portfolio performance. The length of the study also affected this study indirectly. This study used to use five years period of time. The result for five years study would be different if this study managed to use the longer period of time. 1.7.3 Secondary data In this study, we used the secondary data gathered from DataStream, Bursa Malaysia and the other articles references. Some of the data were not up to date to be the good references. For example, when we referred to Bursa Malaysia, some of the data is not currently in use and in DataStream; the problem was some of the data was not available (N/A). It became a limitation to the study because we cannot get the accurate result. 1.8 DEFINITION OF TERMS 1.8.1 KLCI Kuala Lumpur Composite Index or Bursa Malaysia is place where all sector company list their stock to get capital gain from investor that buy their stock. 1.9 SUMMARY There are many reason why this research been conduct but to know the real effect to the stock return many variable been use to meet the objective. For example interest rate, exchange rate, recession and stock price movement is the variables that have effect to the company or investor stock return. CHAPTER 2 LITERATURE REVIEW 2.0 INTRODUCTION Macroeconomics is a branch of economics that deals with the performance, structure, behavior and decision-making of the entire economy, be that a national, regional, or the global economy. Along with microeconomics, macroeconomics is one of the two most general fields in economics. Researcher study aggregated indicators such as GDP, unemployment rates, and price indices to understand how the whole economy functions. Macroeconomists develop models that explain the relationship between such factors as national income, output, consumption, unemployment, inflation, savings, investment, international trade and international finance. In contrast, microeconomics is primarily focused on the actions of individual agents, such as firms and consumers, and how their behavior determines prices and quantities in specific markets. 2.1 GENERAL LITERATURE REVIEW 2.1.1 MACROECONOMICS The effect of macroeconomic fundamentals on stock market volatility has generated a lot of interest. Research by Liljeblom and Stenius (1997) find that it is argued that if the value of corporate equity on the whole depends on the health of the economy, then uncertainty in macroeconomic conditions would affect volatility in stock returns assuming consistent discount rates. Studies have also shown that stock market volatility is driven by uncertainty in macroeconomic fundamentals Fama (1981, 1990), Fama and French (1989) and Chen et al. (1986). It is argued that there is an inverse relationship between interest rates and stock returns. Thorbecke (1997) and Smal and de Jager (2001) observe that a reduction in interest rates induces an injection of liquidity into the economy. This extra liquidity could be channeled to the stock market, driving up the demand and prices of stocks. Patelis (1997) notes that interest rate changes are helpful in predicting stock market returns over a long period. Thus, there is evidence to conclude that interest rate policies should also target stock market price movements. Goodfriend (2003) also notes that, since there is no stable correlation between stock-price returns and short-term interest rates, it would be difficult for interest rates to target stock-price changes appropriately. Bernanke and Kuttner (2003) also note that stock markets do not react much to interest rate changes. Throughout the years, the global economy has been transformed from a simplified financial architecture to a complex intertwined set of financial systems. From the Bretton Woods system to the advent of flexible exchange rate systems in 1973 until the present days, the environment of international markets had experienced substantial changes in the form of excessive variability in exchange rates, greater capital mobility and punctuated by a series of financial crises worldwide in recent years. Meese (1990) who studied the currency fluctuations in the post-Bretton Woods era found that the changes of macroeconomic variables alone could not explain major currencies movements. MacDonald and Taylor (1994) however noticed relationships between macroeconomic variables and exchange rate. A recent study by Rapach and Wohar (2002) meanwhile produced mixed results for the monetary model of exchange rate determination. In December, 2007 economic recession that began in the United States spread much of the industrialized world, and has caused a uncertainty of economic activity. This global recession has been taking place in an economic environment characterized by various imbalances and was sparked by the outbreak of the financial crisis of 2007–2009. However, Mitchell and Netter (1989) argue that the three-day decline preceding the crash was a large enough decline that it became the fundamental news and that shook the market. The theoretical model of Jacklin et al. (1992) (among others) shows how a surprise significant drop in the market could have provided information to the market that would directly lead to a crash. Among all macroeconomic factor stock price movement is also effect by changes in economic environments. CRR (1986) results are tested to see whether the factors priced in the US market are applicable in Turkey stock market, with adding new variable unemployment rate, because we expected a relation with the stock returns. 2.2 THEORETICAL FRAMEWORK Four factors are selected to test the relationships of these factors and stock return. The factors are recession, interest rate, exchange rate and stock price movement. 2.2.1 Recession Recession is one of the macroeconomic factors that effect to the listed company stock return in KLCI. Some of the researcher say that recession have give negative impact to stock return but some researcher found that recession is no relation with stock price. CRR (1986) shown that the tested macroeconomic variables do not affect the share price in the UK stock market. 2.2.2 Exchange Rate. Exchange rate is most been use by investor to do transaction to buy stock in market, because of that exchange rate is consider one of the factors that effect to the stock return. Movements of exchange rate are always a concern for various parties. In international currency markets, exchange rate plays a significant role and the variability of exchange rate, whichever way it sways, tends to give a significant impact on the economy. 2.2.3 Interest Rate. Interest rate also one of the factor that give impact to the stock return because some researcher say that interest rate give negative impact to the stock return. Anthony Kyereboah-Coleman and Kwame F. Agyire-Tettey (2008) mention that there negative real interest rates for extended period. 2.2.4 Stock Price Movement. Stock price move is most related to the stock return because every time changes in stock price effect to the outcome of stock return for investor investment but some of the researcher say that there is no effect on stock return. For example Martinez and Rubio (1989) tested the Spanish market return and they found that there were no significant pricing relationship between stock returns and the macroeconomic variables. 2.3 SUMMARY Literature review is the part where it shows where it show whether the variable will be strongly acceptance or not. From the previous study that has been done it has shown that, most of the variable has its own importance not only in affecting some issue but also in solving it. This literature reviews shows the effect of this study on the stock return as the dependent. It also has many researches done with the difference result. CHAPTER 3 METHODOLOGY AND DATA 3.0 INTRODUCTION This chapter discusses the research methodology used in the study. Methodology is one the important method that had been use to test the hypothesis on this study in order to get the finding at the end of the study. Research design and research methodology is most of the important part for this study since it provide a lot of useful information on how to get the data, how to conduct the survey and provide additional information in order to get better result and finding for this study. This chapter explains how the data for conduct the study is collected and carried out. It also explain on the method that is going to be use to get the finding at the end of the study. It also focus on the data sources, sample involved in the study and the methodology to be use in this study. In this study the variables that had been used was economic recession, exchange rate, interest rate and stock price which collected on the monthly basis for the period of 5 years ended in December 2005 until December 2009. This study consists of 50-industrial product firm and using time series period from 2005 to 2009. Focus for this study was more on the Regression Model analysis to test the finding. Since this study was investigate and identify the relationship between macroeconomic and stock price movement to profitability so using the regression data analysis model had done it for the past 5 years.. There are several key items such as data collection method, sampling frame, sources of data, variables and measurement, research design, theoretical framework, hypothesis statement, data analysis, and treatment which will clarify in detail in this chapter. 3.1 DATA COLLECTION The price indices at monthly frequency are collected for sectors in Bursa Malaysia: industrial product sector. All the closing prices of these sector indices sourced from the secondary data from Thomson Financial DataStream over five-year period from year 2005 to year 2009 (5 years). Meanwhile, for the independent variables of recession rate, exchange rate, interest rate and stock price will be extracted from Thomson Financial DataStream and Bank Negara Malaysia official release. 3.2 SAMPLING FRAME To secure an acceptable result, this study decided to use 50 samples out of all companies that went public and were listed on the second board within year 2005 to 2009. The decision to use this sample was due to the inability to collect more data due to the time constrain during research. Furthermore, this study wants to see the stock return for investor in industrial product sector. And at the same time, it also wants to observe the relationship between recession rate, exchange rate, interest rate and stock price. 3.3 SOURCES OF DATA The selected 50 stock sample being chose from the main board of BM KLCI .The data are collected on monthly actual stock price was collected from the Thomson Financial DataStream, which is provided the information about the companies financial situations over years. Each stock is already being issued from the companies issued until today. These samples were represented by 50 companies from the industrial product sector. 3.4 VARIABLES AND MEASUREMENT There are two types variables has been used in this study there are; the dependent and the independent variables. 3.4.1 Dependent Variables The dependent variable for this study is stock return of each company industrial product sector. 3.4.2 Independent Variables The independent variables will be measured by recession rate, exchange rate, interest rate and stock price. 3.5 RESEARCH DESIGN This research is designed to see the relationship between dependent variable with independent variables. In this study, it analysis in hypotheses testing that will explain the certain significant correlations between KLIBOR and Treasury Bills rates and the stock performance 3.5.1 Purpose of the Study The purpose of this study is to determine the relationship between all the dependent and independent variable. By using descriptive study can know relationship between both of variable. Descriptive study will be able to describe the characteristics of the variable of the situation. By using data from DataStream would be able to compare monthly return for each of the companies. Besides that, this study also can help investor to make decision making and offer the idea for future problem and research. 3.5.2 Types of Investigation The study involved the correlation study types of investigation. The study involves determining the important variable associated with the situation. The important variable is between the recession rate, exchange rate, interest rate and stock price. Correlation studies done in the study are called field studies. This studies will conducted to establish cause and effect to the stock return using the same measurement in the market are called field experiments. The experiment done to establish the cause and affect of the studies so that can make corrective action to make any decision in the investment. 3.5.3 Unit of Analysis In this study, the unit of analysis is group of company and also industry. The group of company that involve fifthly (50) of the properties companies that has been selected in the main board of BM KLCI. The companies selected depend on the year of the companies is establish. The industry that has been selected is recession rate, exchange rate, interest rate and stock price will be compare with the return of each companies return during 5 years. 3.5.4 Time Horizon This study will be use cross-sectional studies to make the research. A study will be done with the monthly data are gathered over five years (5) from year 2005 to 2009, in order to get the result about these studies. 3.6 THEORETICAL FRAMEWORK Research studies indicate that relationship between KLIBOR and Treasury Bills rates and stock performance. Dependent variable: Effect of company Stock Return Independent variables: Recession rate, Exchange rate, Interest rate and Stock Price Movement. Figure 1: Schematic Diagram (Relationship Diagram) Independent Dependent Company Stock return listed in KLCI Stock price movement Interest rate Exchange rate Recession rate According to the schematic diagram above, it can be explaining relationship between stock return with Recession rate, Exchange rate, Interest rate and Stock Price Movement. 3.7 DATA ANALYSIS AND TREATMENT Multiple Linear Regression Model are the statistical tools that been use in this study. This model analysis examine about simultaneous effect between Recession rate, Exchange rate, Interest rate and Stock Price Movement (independent variable) Stock Return (dependent variable) which variable give biggest effect on the dependent variable. Where; Y = Dependent variable which represent Actual Stock Performance = The constant number of equation = Coefficient Beta value = Independent variable which represent Recession rate = Independent variable which represent Exchange rate = Independent variable which represent Interest rate = Error r = (EV – BV) + DIV X 100 BVStock price movement will be measure in Holding Period Return to determine the effect on stock return Where; r = Represent Rate of return EV = Represent Ending Value or end of stock price BV = Represent Beginning Value or beginning of stock price DIV = Represent income or dividend of company 3.8 HYPOTHESIS STATEMENT Some changes will affect the each stock return to the companies. By changing the stock price will affect the return to the companies its self its might be go higher or lower than what it expected will be. To analysis and to test whether this is applicable to the Malaysian Stock Market, the hypothesis has been developing. Hypothesis 1 H0 = Company stock return in industrial product sector outperform than KLCI H1 = Company stock return in industrial product sector underperform than KLCI Hypothesis 2 H0 = Macroeconomic factor does has significant impact in stock return of each company in industrial product sector in KLCI H1 = Macroeconomic factor does not has significant impact in stock return of each industrial product sector in KLCI Hypothesis 3 H0 = Stock price movement does has significant impact in stock return of each industrial product sector in KLCI H1 = Stock price movement does not has significant impact in stock return of each industrial product sector in KLCI SUMMARY This study will be measure according the objective that has been established in earlier chapter. This research can be use to help investors to make the investment decision. Its because this studies focuses on the data from year 2005 until year2009, it will give better overview of each of the properties company in order to take any corrective action in facing the problem and also overcoming the problem in the current situation to make an investment decision.