To what extent do we need evidence to support our beliefs in different Essay

To what extent do we need evidence to support our beliefs in different areas of knowledge - Essay Example And the more the evidences are present -- evidences that are not contrary among one another -- in supporting a specific scientific belief, the more such belief becomes truthful or objective. In Bayesianism, evidences from a set of observational results for a particular hypothesis largely increase the â€Å"probability [or validity] of that hypothesis† (Achinstein 4). Furthermore, scientific belief greatly influences the person who holds such belief. Assuming that evidences validate a specific theory, the thought and action of the individual are strongly shaped by his or her belief system. For instance, a person who considers the existence or truthfulness of the so-called global warming will express, one way or the other, his or her belief of promoting and pursuing a kind of clean and green environment. Perhaps he or she will take this action to a much higher level (e.g., mass demonstration) if such person believes that the continued apathy of the government or state concerning global warming will theoretically result an environmental catastrophe. However, evidences do not make the natural science truly objective or free from error. ... But some scientists also claim that global warming does not exist; they contend that climate change or the increasing heat temperature experienced on the planet Earth is merely a natural phenomenon, which dates back to a hundred years. Moreover, the human specie is an evolving creature that has the natural capacity to adapt in the changing environment. Interpretation to particular evidence is far from objective or scientific. A set of data does not translate to a scientific theory or law. Whether the phenomenon of global warming is true or not, interpretation or deciphering the available observable data remains to be problematic. Going away from the much politicized science (i.e., global warming), the scientists in the Middle Ages believed that the Earth was the center of the cosmos, not the sun. Their evidence was that the common-sense perception of what they saw around them. In reply to Wittgenstein’s query, someone said, â€Å"Well, obviously, because it just looks as if t he sun is going around the earth† (qtd. in Dawkins 406). Thus, interpretation matters over a set of evidences. In history as the area of knowledge, evidences or sources are very essential in verifying the truthfulness of the claim or theory made by the historian. Especially historians who study ancient civilizations, sources are necessary in order to prove that their ideas or â€Å"beliefs† are true or accurate. And gathering a number of sources or evidences relevant to the study in question makes the historical record or writing truly comprehensive and objective. Undoubtedly, sources or evidences should be reliable (Child et al. 12). In addition, historical claim or belief influences the person’s mental

Financial Policies of Westpac Banking Corporation Essay

Financial Policies of Westpac Banking Corporation - Essay Example The bank is listed on the Australian Stock Exchange and has made a satisfactory performance over time. Financial Policies of Westpac Banking Corporation related to Capital Structure In 2008, Westpac went into a strategic alliance with St. George Bank Limited in a merger operation. In that merger, the exchange ratio of St. George Bank Limited to Westpac Bank was 1.31. This means that the valuation of the assets of St George was at a higher level than that of Westpac, and therefore the shareholders of St George have got a better valuation as compared to the shareholders of Westpac. The bank went into a merger policy because it wanted to make more use of its resources and have a better financial health (Rosenbaum and Pearl, 2009, p. 36). This would also help the bank to survive in the long run. At this juncture to retain the positive sentiment of the investors, Westpac announced a special dividend of $ 1.25 per share. This has a positive impact on the prices of the shares and the prices seem to go up; therefore, it is a deliberate step on part of the company to keep a stable position in the securities market. Dividend Payout Policies of Westpac The financial history of the company reveals that dividend has been paid by the company bi-annually in the month of July and at the end of the year, December. The dividend yield for the stockholders had ranged from 0.56 to 0.86. The returns that the shareholders have got by investing in the company is well understood by the dividend yield paid ever time (Gallagher, 2003, p. 194). The mean and the standard deviation of the yield have been calculated. Mean 0.736666667 Standard Deviation 0.108857705 The average yield of the dividend has been 0.736. A dividend payout ratio of 70% per share would encourage the shareholders to invest more money in the stock and to hold the stock for a longer period of time. These dividends are directly transferred to the accounts of the shareholders. The company generally adopts any of the two di vidend payout policies- the Dividend Reinvestment Plan (DRP) in which the retained earnings that the company generates are capitalized by the company instead of being distributed (Modigliani and Miller, 1958, p. 282). This is often known as the growth schemes by which the company acquires more assets or uses the money for productive purposes. The second option that the company takes is to distribute the dividends to the shareholders. The shareholders who look forward to short-term investments and do not want to engage their money in the long term in the stocks of Westpac would prefer the second option because they would be getting a dividend yield of an average of 70% within 6 months time. For example, in the year 2010, the company paid out dividends at a ratio of 64.9% (Westpac Group, 2012). The share price of Westpac that time was at an average of 23.24. Thus it is lucrative stocks for the investors who would hold the stock for a minimum period of 1 year. Buyback of Shares by West pac Most of the companies in Australia goes for a share buyback for avoiding the risk that any bigger firm may take over the business (Doan, Yap, and Gannon, 2011, p. 69). Westpac followed on the similar line to keep the capital structure fundamentally strong. The company announced the buyback of shares as a strategy for successful management of its finances. The cash profit of the bank from interest income and other supplementary services got increased by 10% during this time.