Capital Structures of the Indian Industrial Sector

Capital Structures of the Indian Industrial SectorChapter 1INTRODUCTION1.1 IntroductionCapital is the main portion of every sedulousness, a company start with corking and end with demolition of that hood. So the capital and capital complex body part be one of the most important endpoints in every business, Companies have been struggling with capital organises for more than four decades. During credit expansions, companies have been unable to build enough liquidity to survive the contractions, especi everyy those enterprises with freakish cash flow streams which end up with excess debt during business slowd knowledgesIn this interrogation I am going to Exam the changes in the capital social organisation of Indian industrial sphere of influence, with a special reference to Indian fabrics industry .The purpose of this paper is to de margeine whether firm-specific capital mental synthesis de endpointining(prenominal)s in the emerging market place of India. support the ca pital anatomical bodily structure theories which were developed to explain the company structures in developed economies. In other words, the main motivation for this muse is to highlight the case of firm characteristics and industrial sector-specific variables in determining capital structure. This is an attempt to a circuit card entropy delibe regulate of capital structure causal factors.Statement of the Problem in that respect is lot of study conducted in the field of capital structure theory but no systematic study with applying econometric mock up and tools used c atomic number 18 panel entropy argon not conducted in India yet. It harp analyzing both time and cross sectional variables. there is No studies are conducted on specify sector. The study by sector wise is more centreive than in macro level research which is subdue sector variable. Each industry has its own uniqueness and situations. When taking macro level data set will miss its sector uniqueness. Th is research is an motion through panel data summary with considering sector as important factors. Specifically detective tries to answer some questions, firstly which selected factors are more influence in go around term supplement of a firm, and which is not influence on it . Secondly languish term leverage has any determinate in Indian industry and which factors is more influenced in total debt decision. Also questioned extraneous variable like rim rate, inflation rate can make any jolt on capital structure. The researcher conduct a pre study for specifying research problem.Pre studyThe pre study was conducted by analyzing all companies in india by classify these companies in sector wise. Assigning debt law ratio as variable for prestudy, by Using cmie and Bloomberg database, researcher collect all companies 5year debt equity ratio and classified them in sector wise. Companies arranged downstairs in a Automobiles ancillaries, Banking, chemical , communication, construct ion real country, construction material, consumer goods sector, energy, food Agro, hotel tourism, IT, investment finance, Machinery, metal, mining , stuffs, transport and wholesale re tale sectors. Take 5 year average of all company and find out standard deviation of each sector. The value arranged below table.Table 1.1 .Result of Pre studySectors guess(a) Debt on equityStandard deviationAutomobiles ancillaries indicator1.063.561244Banking go index1.530.695391Chemicals chemical products index1.533.562817Communication services index1.5421.75133Construction real estate index1.9226.57946Construction materials index0.7723.65846Consumer goods index1.728.326452Energy index1.362.520609Food agro-based products index1.457.826624Hotels tourism index1.3318.53691Information technology index0.351.677905Investment services index0.241.035782Machinery index1.267.248118Metals metal products index1.316.62944Pharma1.6386.75429Mining index0.346.509317Textiles index2.05167.5378Transport s ervices index1.682.88037Wholesale retail trading index1.6834.62297In this table frameworks sector have very high debt equity and not ordinary deviation between companies. High standard deviation mean that in textile sector, some companies has very low debt and some has very high. It is indias one of the oldest and major export sector too. Highest deviation and irregularity in debt is not a better sign. So need an attention on capital strucre determinant of Indian textile sector.Objectives of the studyThe goal of these studies is analyze unhomogeneous factors determining capital structure in Indian industries. Objective of the study is listed below it is analyses three econometric model, short term, unyielding term and total leverage of Indian textile sector.1.2.1. Objective settled on the basis of second model short term debt leverage1a. To study and analyses the determinant of a capital structure of Indian textiles sector examine the equal of positivity on short term debt1b. To study and analyses the determinant of a capital structure of Indian textiles sector analyze the strike of liquidity on short term debt1c. To study and analyses the determinant of a capital structure of Indian textiles sector examine the impact of Tangibility on short term debt1d. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of addition on short term debt1e. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of Bank rate on short term debt1f. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of assess rate on short term debt1g. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of on short term debt1h. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of cost of debt o n short term debt1i. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of develop of firm on short term debt1j. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of Size of firm on short term debt1.2.2. Objective settled on the basis of second model long term debt leverage2a. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of profitability on long term debt2b. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of liquidity on long term debt2c. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of Tangibility on long term debt2d. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of Growth on long term debt2e. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of Bank rate on long t term debt2f. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of tax rate on long t term debt2g. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of inflation on long t term debt2h. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of cost of debt on long term debt2i. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of Age of firm on long term debt2j. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of Size of firm on long term debt1.2.3. Objective settled on the basis of Third model total debt leverage3a. To study and analyses the determinant of a c apital structure of Indian textiles sector investigating the impact of profitability on total debt3b. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of liquidity on total debt3c. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of Tangibility on total debt3d. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of Growth on total debt3e. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of Bank rate on total debt3f. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of tax rate on total debt3g. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of on total debt3h. To study and analyses the determinant of a capital stru cture of Indian textiles sector investigating the impact of cost of debt on total debt3i. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of Age of firm on total debt3j. To study and analyses the determinant of a capital structure of Indian textiles sector investigating the impact of Size of firm on total debtHypothesesThe hypotheses of this research are set on the basis of above said objectives.Indian textiles companies on short term debtH01a = there is no square impact of Indian textile companies profitability on short term debtH01b = there is no of import impact of Indian textile companies liquidity on short term debtH01c = at that place is no significant impact of Indian textile companies Tangibility on short term debtH01d = There is no significant impact of Indian textile companies growth on short term debtH01e = There is no significant impact of Indian textile companies bank rate on short term debtH01f = Ther e is no significant impact of Indian textile companies tax rate on short term debtH01g = There is no significant impact of Indian textile companies inflation on short term debtH01h = There is no significant impact of Indian textile companies cost of debt on short term debtH01i = There is no significant impact of Indian textile companies age of firm on short term debtH01j = There is no significant impact of Indian textile companies surface on short term debtIndian textiles companies on long term debtH02a = There is no significant impact of Indian textile companies profitability on long term debtH02b = There is no significant impact of Indian textile companies liquidity on long term debtH02c = There is no significant impact of Indian textile companies Tangibility on long term debtH02d = There is no significant impact of Indian textile companies growth on long term debtH02e = There is no significant impact of Indian textile companies bank rate on long term debtH02f = There is no signi ficant impact of Indian textile companies tax rate on long term debtH02g = There is no significant impact of Indian textile companies inflation on long term debtH02h = There is no significant impact of Indian textile companies cost of debt on long term debtH02i = There is no significant impact of Indian textile companies age of firm on long term debtIndian textiles companies on total debtH03j = There is no significant impact of Indian textile companies size on amount debtH03a = There is no significant impact of Indian textile companies profitability on Total debtH03b = There is no significant impact of Indian textile companies liquidity on Total debtH03c = There is no significant impact of Indian textile companies Tangibility on Total debtH03d = There is no significant impact of Indian textile companies growth on Total debtH03e = There is no significant impact of Indian textile companies bank rate on Total debtH03f = There is no significant impact of Indian textile companies tax ra te on Total debtH03g = There is no significant impact of Indian textile companies inflation on Total debtH03h = There is no significant impact of Indian textile companies cost of debt on Total debtH03i = There is no significant impact of Indian textile companies age of firm on Total debtH03j = There is no significant impact of Indian textile companies size on Total debtSignificance and Scope of the studyCapital and capital structure are one of the most important terms in every business Companies have been struggling with capital structures for more than four decades. During credit expansions, companies have been unable to build enough liquidity to survive the contractions, especially those enterprises with uncertain cash flow streams which end up with excess debt during business slowdowns. So researching about capital structure determinant is important. Especially in current condition, India is underdeveloped and emerging market, and also attracting capital with outside capita by make in India project. The study significant in recent situation also finds out which factor are more influencing capital structure determinants. The study by sector wise is more effective than in macro level research which is avoid sector variable. Each industry has its own uniqueness and situations. When taking macro level data set will miss its sector uniqueness. This research is an enquiry through panel data analysis with considering importance of sector.Research design and MethodologyThis research is designed on the basis of giving importance of sector uniqueness, the study conducted on the base of panel data analysis, which used time and cross sectional factors.1.7.1 Research DesignThis research set three econometric models. On the basis of this model three dependants (long term debt ratio, short term debt ratio and total debt ratio) and ten independent variables are created. The three econometric models arefor short term debt ratio modellderit=0+1(prof)+ 2(liq)+ 3(tang)+ 4(gr o)+ 5(infl)+ 6(bnkrt)+ 7(tax) +8(cod)+ 9(age)+ 10(size)+ uitLong term debt ratio model issderit=0+1(prof)+ 2(liq)+ 3(tang)+ 4(gro)+ 5(infl)+ 6(bnkrt)+ 7(tax) +8(cod)+ 9(age)+ 10(size)+ uitTotal debt model isderit=0+1(prof)+ 2(liq)+ 3(tang)+ 4(gro)+ 5(infl)+ 6(bnkrt)+ 7(tax) +8(cod)+ 9(age)+ 10(size)+ uitWhere,Lder=long term debt ratio define by long term debt/book value of equitysder =short term debt ratio define as short term debt/ book value of equityder= total debt ratio estimate by total debt by /book value of equityi= number of companies or panel (175 firms) t= time variable (here 5 years) 0=stand for model constant 1 to 10= co-efficiency of independent variablesIndependent variablespro = profitability of firm defined by EBIT/ salesliq= liquidity is by total current asset divided current liabilityTang= tangibility, it identified by net tangible asset to total assetgro= growth rate in total asset of a firminfl= economic inflation factors (CPI)bnkrt = bank rate obstinate by RBIt ax = tax liability defined by profit after tax to profit before taxcod = cost of debt calculated as interest /total outsider liabilityage =age of a firm firm older than 10 years give value 1 otherwise 0size = size of a firm defined by getting natural log of Size uit =error termthe research designed on the base of above said panel data models.1.7.2 Sources and DataIn this research all data are secondary nature, Data are collected by using CMIE and Bloomberg Database, some variable like bank rate and inflation are collected from Reserve bank of India website. For the research researcher collect five year data of 175 textiles companies which listed in both NSE and BSE are collected. The textiles industry is selected by pre study explained in Para 1.1.11.7.3 Data AnalysisData are analysed using panel data methods, which include time and cross sectional factors.. The three econometric models, short term leverage model, long term leverage model, total leverage model are analysed by diver se panel data tools. For analysing researcher used Stata11 software and Microsoft excel. The tools used for the analysing are listed belowPooled OLS regressionIf individual effect ui (cross-sectional or time specific effect) does not live on (ui =0), ordinary least squares (OLS) produces efficient and consistent parameter estimatesYit = + Xit +it (ui =0)It used regress a data irrespective of time and cross sectional values dogged effectFixed effect models are designed to study the causes of variation within a panel group or entity. a time incessant characteristic cannot used such a changes because each entity is constant for each person. ergodic effectA random effect model assumes that individual effect (heterogeneity) is not correlated with any regresses and then estimates error variance specific to groups (or times).Breusch-Pagan Lagrange multiplier (LM)Lag model running game is a post estimation test it is used for checking randomness in study it assumed that there is no ran dom effect estimates. Mainly used for choose best model, pooled OLS or Random effectHausman test for fixed effectHausman test also post estimator test it is used find out fixed effect in estimation. It analyses deviation of Two estimation model fixed and random model, and interpret is there any fixed effect or not.1.8 ChapterisationThis research report consist five chapters , first chapter consist introduction part it is give a basic idea about how the research is designed and including identifying research problem data source a tools used . in this chapter reported objective of the study and various hypotheses set for further researchThe second chapter is provide literature review, various studies conducted in same area and related area. This is providing a get idea about previous studies nationally and internationally. So researcher can set research gap through this chapter. The third chapter is belonging to theoretical frame work, various theory related to this research are desc ribed there. It is used to providing a clear cut idea about theoretical frame and subject knowledge in researched areaThe forth chapter is analyses part it detail description of analysis with fixed and random methods and other test used. Fifth chapter is last chapter it consist finding and suggestions in the research .1.9 LimitationThe research study has various limit point areTime span of research is very less, so it is not possible cover all minor part of research area.The panel data line of battle is crucial stage, the data availability and collecting each and every observation for panel is difficult taskThe study only five year data it may be influenced extreme variables like economic depression and law changedLack of knowledge and lack of expert in panel data analyses is limitation in this researchVariable, which is not stated in the research may cause to influence dependant variables.Research is may not be pardon from clerical and human error so its result and interpretatio n has may vary

Social Unrest :: essays research papers

All we lack is the will- the will to see that the greatest threat is not change, but our continued resistance to it. These words, expressed by the late, Senator Edward Kennedy, display perfectly how our confederation is reluctant to change when a change is needed. Any change or variation, be it in education, personal attitudes, or traditions can be difficult to achieve. atomic number 53 specific atomic number 18a of our society that is disinclined to change is the social unrest that plagues public schools. The results of this unrest come in the forms of emotional instability for students that may or may not lead to murder. Social unrest is happening in all schools across the United States. We hear just about it on the news. We read about it in newspapers and in magazines. But what exactly are we hearing and reading about it? We are witnessing the results of this constant social unrest in schools. What are these results? Homicide and suicide. What scares most people and sluice m yself, is that this could happen at any time, any place. Even Little Falls, New York. All too often ostensibly normal, everyday students are violently sack their anger on their fellow classmates. They take the lives of other students, their own, and leave in the wake of their madness, emotional trauma for those who witness it. The real question is, however, why are they so angry? The answer to this lies in school hallways and cafeterias. Students in high school and even middle school, are bullied by other students, mainly your distinctive jock, to the point where they simply cannot stand to go to school and be picked on. So what do they do? They come to school armed with automatic weapons, sawed off shotguns, and knives countersink to take matters into their own hands. This has happened all too often and is becoming a part of our everyday life. In most cases, the students who decide to do a matter like this, are considered outcasts or Goths by other students. These are the kids who do not conform to a certain group. Who choose to go their own route, and seemingly suffer for it. This is one aspect of public schools that will always be present and one problem that cannot be stopped, only contained. A good good example of a child who has the makings of one of these students, is Stephen, a young student in the short story, Stephen, written by Jonathan Kozol.

Its Time for Uniforms in American Schools Essay -- School Uniforms Ed

Its Time for Uniforms in American SchoolsWorks Cited MissingSchool uniforms devote been debated in the public school system for what seem the like fifty years. Understand the constructive views that most administrations envision, you start to recognize the goals associated with having students wear them however, thither is a flip side. The unenthusiastic views that be associated with school uniforms present an every bit intriguing question. Should schools incorporate them into the curriculum or not? Who opposes it and why it may be apply to check into our tikerens future. All views will be presented for you to comprise the decision.Why is this an issue? Well it seems that clothes have become the status maker and not grades, attendance and air. They say never judge a mass by its c all over however, it seems that in todays society looks mean everything. A childs mental demeanor can change with what he/she is wearing. The age-old problem of mom I have nothing to wear has becom e a burden, even when there is a wardrobe stuffed behind over sprung closet doors. This is the issue. Fashion and the status of a student should not coincide. If anything a students statues should be reflected by the grades they receive from class. That should be the only deciding(prenominal) unfortunately, this is not the case. So what role does various clothes and fashion portray, according to Swain (2002) cloths are used to portray individualism (p53). Individualism is an important sport for a student to possess. But again it seems that individualism can be achieve by dint of other venues. From a teachers stand destine the main issue with student wearing uniforms is the impact uniforms can have on behavior and grades. Students behaviors can be influenced from a uni... ...mes to there childrens future. With television and the media promoting a way of life that is out of reach for most of the populous, parents withdraw to help there children realize that school is important i n obtaining a grasp and gaining that desired future? A proper education and the desire to pass on time and the superficial individuality needs to be terminate like a shot at a unripened age. Sacrifices must be made to gain the, now required high school diploma to insure their blot in the middle ground of society. The more sacrifices the student learns to make at a young age the better prepared he/she will be for hurtles that one faces in everyday life. With the rise of tabloid television it seems that the dumbing of America has begun. This uniform policy is the first step that needs to be taken to insure the success of our children. Education is the issue here not fashion. Its Time for Uniforms in American Schools essay -- School Uniforms EdIts Time for Uniforms in American SchoolsWorks Cited MissingSchool uniforms have been debated in the public school system for what seem like fifty years. Understand the constructive views that most administrations envision , you start to recognize the goals associated with having students wear them however, there is a flip side. The unenthusiastic views that are associated with school uniforms present an equally intriguing question. Should schools incorporate them into the curriculum or not? Who opposes it and why it may be used to insure our childrens future. All views will be presented for you to make the decision.Why is this an issue? Well it seems that clothes have become the status maker and not grades, attendance and behavior. They say never judge a book by its cover however, it seems that in todays society looks mean everything. A childs mental demeanor can change with what he/she is wearing. The age-old problem of mom I have nothing to wear has become a burden, even when there is a wardrobe stuffed behind over sprung closet doors. This is the issue. Fashion and the status of a student should not coincide. If anything a students statues should be reflected by the grades they receive from class . That should be the only determinant unfortunately, this is not the case. So what role does various clothes and fashion portray, according to Swain (2002) cloths are used to portray individualism (p53). Individualism is an important feature for a student to possess. But again it seems that individualism can be achieve through other venues. From a teachers stand point the main issue with student wearing uniforms is the impact uniforms can have on behavior and grades. Students behaviors can be influenced from a uni... ...mes to there childrens future. With television and the media promoting a way of life that is out of reach for most of the populous, parents need to help there children realize that school is important in obtaining a grasp and gaining that desired future? A proper education and the desire to sacrifice time and the superficial individuality needs to be completed now at a young age. Sacrifices must be made to gain the, now required high school diploma to insure their p lace in the middle ground of society. The more sacrifices the student learns to make at a young age the better prepared he/she will be for hurtles that one faces in everyday life. With the rise of tabloid television it seems that the dumbing of America has begun. This uniform policy is the first step that needs to be taken to insure the success of our children. Education is the issue here not fashion.

jobs Essay -- essays research papers

Heres your big chance to make some extra cash right start of your home. You wont believe how much money you can make doing this. You can easily make up to a $1000 weekly working only 2-3 hours a day. We will supply you with alone(prenominal) materials to start making $4.00 for every letter you process and mail kayoed The best part of all this is there is no limit You can ship us back as many letters as you want. Positions are being filled very quickly and the long you wait, the to a greater extent likely you will not get accepted in this once in a lifetime opportunity Keep reading to mulct more and register today You will NEVER have to sell any of our products in ordered to get paid. Your pay will be found on the number of letters you mail us. You will not have to make any cold calls or solicit door to door exhausting to make sales. You will get paid $4.00 for every envelope regardless if a customer buys our products. Mailing letters from home can make you more money than you could ever dream of. You will no longish have to wake up and take that long drive to work and suffer all those long hours. From now on, you can just wake up and say, "Im my own boss" You can work the hours you want and do what you want. there will be no boss looking over your shoulder ever again. This program will allow you to choose your own hours and work at your own pace. in that location are no obligations. You can easily make up to two times as much money than your regular paying job. As a home mailer, all you need to do i... jobs Essay -- essays research papers Heres your big chance to make some extra cash right out of your home. You wont believe how much money you can make doing this. You can easily make up to a $1000 weekly working only 2-3 hours a day. We will supply you with all materials to start making $4.00 for every letter you process and mail out The best part of all this is there is no limit You can ship us back as many letters as you w ant. Positions are being filled very quickly and the longer you wait, the more likely you will not get accepted in this once in a lifetime opportunity Keep reading to gip more and register today You will NEVER have to sell any of our products in ordered to get paid. Your pay will be found on the number of letters you mail us. You will not have to make any cold calls or solicit door to door trying to make sales. You will get paid $4.00 for every envelope regardless if a customer buys our products. Mailing letters from home can make you more money than you could ever dream of. You will no longer have to wake up and take that long drive to work and suffer all those long hours. From now on, you can just wake up and say, "Im my own boss" You can work the hours you want and do what you want. There will be no boss looking over your shoulder ever again. This program will allow you to choose your own hours and work at your own pace. There are no obligations. You can easily make up to two times as much money than your regular paying job. As a home mailer, all you need to do i...

Tori Amos :: essays papers

Tori Amosbody Tori Amos And Her ArchetypesThe lyrics of Tori Amos are some of the most complicated in musictoday. They go along the primary focus of her dedicated fans, as wellas her detractors, despite the medias fixation on her past history ofrape and abuse. They are complicated on gentlemany levels, and Tori Amoslyrics demand a mythological approach to scratch the surface of herartistic vision. In several interviews, she has admitted to being muchinfluenced by numerous books of symbology and others of Jungianpsychology and their archetypal insights. I dont fall in love much.I mean, I fall in love every five seconds with something but I dont gofrom boy to boy. I go from archetype to archetype (Rogers 33). Mostdominantly, her lyrics rely on concept of the archetypal woman in allof her aspects. Motifs of humankind and destruction are alsorepresented in her work. Her ideals of balance for herself andfemininity in general have propelled her into stardom her uses ofarchetypes have led the way.The allusions to Christian mythology and obscure references in Father dickens delve deeper than the casual listener may recognize. EvenToriphiles, her avid fans like to affectionately refer to themselves inthis way, are pushed to the edge of their science in attemptingto come up with a meaning for every image. Applying a criticalmythological approach works best with Father Lucifers imagerybecause the archetypes tarry just below the surface. The title of thissong aids the audience in being able to place the situation -as doesthe songs tranquil melody the speaker treats the Lucifer characterwith compassion and appreciation. Lucifer represents more than justthe idea of the Christian Devil he is the Jungian shadow. The shadowis the invisible saurian tail that man still drags behind him (Guerin180). He is not unlike other symbolic representations of thisarchetype in literature, namely Miltons Satan. Father Luciferbegins with questions and infe rences from the s peaker that seem promote Tell me that youre still in love with that Milkmaid/hows the Lizzies/ hows your Jesus Christ been hanging (Amos, Boysfor Pele). Toriphiles and new listeners alike might concede thatpicking out who or what the Lizzies are is a daunting task. It isclear that they represent something and that their connection is morethan likely appropriate, however, the reference is just not available.Who the Milkmaid may be dust another reference on the same crypticplane. We might just be able to expect that the Milkmaid was simply a

Speech Analysis -- essays research papers

This short paper will discuss my analysis of the Informative Speech I gave in class. I will cover posture, juncture volume and distinction, eye contact, and overall analysis. Posture At the beginning of my speech I think my posture was good. However, I do think it had is weaknesses. I stood unbowed and didnt move around for example. I could have used my movements and better posture to get a more knowledgeable perception to the audience. I had my keister towards the audience on the left of me when I was pointing at things on the slide show. I know this is a big NO-NO but I guess I didnt realize at the time that I was doing it.VoiceI have always felt like I possess a thunderous voice, but people tend to tell me that I am very soft s...

A Good Essay is More than Just Five Paragraphs :: Teaching Writing Essays

A Good Essay is More than Just Five Paragraphs This form in College Writing one has been rattling interesting. I understand now that there is a lot to a greater extent that goes into writing a constitution than I frontmost thought. I especially realize this when I look back at one of my first papers which was the descriptive essay titled, The Hidden Truth. The first thing that pops into my mind when I look at this paper is my consideration of the kind of audience I had. I was assuming they were very or just about knowledgeable about the topic I chose. I realize this is not true now. This is the process that goes on in my mind when I first carry through people. I think, for the audience I had, the main idea needed to be more concrete. As I went on in this class the kind of topics I chose got more & more concrete & audience consideration grew stronger in forming my papers. The second thing that I can determine about how my writing has changed since this first paper is my narrowing of focus. Ive realized this is key to writing a good paper.In The Hidden Truth, my writing jumps from one thing to the next and a lot of it is not tied(p) back to the main idea. Yes, this was a descriptive essay but my descriptions seem to over ride my main focus. My papers have been getting more win over since Ive realized how important this is. Another important aspect of writing is order. I understand now that the same information in a paper position differently can make or break a paper. In my paper I just observed the people & figured the most dianoetic order was chronological, starting with the youngest person & going to the oldest. I feel now that if I would have started with the oldest woman, it might have drawn my audience in more & seen what I was talking about early on instead of waiting until the end, after Ive already lost their interest Word usage is also very important to papers.This is especially true in descriptive essays. Ive learned h ow different words give us different feelings even if they have the same meaning.