Corporate governance for lebanese SMEs Essay Example | Topics and Well Written Essays - 750 words

Corporate governance for lebanese SMEs - Essay Example This study hence is an analyzing assessment for whether this model would be, to any extent, applicable to the Lebanese context. It reveals the results of the first phase of an ongoing research aiming at investigating the extent to which the Anglo-Saxon System of Corporate Governance be adopted by companies in Middle-Eastern countries, specifically the case of SMEs in Lebanon?Identifying whether it contributes in improving or hindering their performance? Using a purposeful sampling approach, semi-structured interviews and focus groups technique is applied to 90 owners/shareholders, managers and employees from the trading, hotel and restaurant sectors that dominate Lebanese SMEs (table 1) and comprise 50.40% of the total population.This technique provides the advantage of comparing all participants’ responses to the main question and provides more in-depth information that cannot be obtained through questionnaires. This discussion answers the above mentioned research questions t hrough adopting the interpretive approach and a thematic analysis. Data will be collected and interpreted deeply in order to identify the extent to which socio-cultural factors affect a firm’s corporate governance structure and hence its performance. 1.1 Purpose of the Study According to the literature, there are much more forms of corporate governance, based on different structures of ownership and affected by large variations of cultural background, legal framework, political environment and economic climate (J. Solomon & A. Solomon, 2004). The â€Å"fit† between cultural values and organizational structures resulted from a fusion of human culture with the models of organization; therefore, it is recommended that organizations enter into arrangements that match with our basic cultural perspective (Hofstede (1991). In other terms, the organizational structural elements are shaped by values that are compatible with and suitable to cultural values as a component of the organization’s implicit models (Hambrick & Brandon, 1988). Swidler (1986) argues that organizations can be viewed as social entities integrated into the institutional and value structures constituting the culture of a society; in this view, organizations and societies tend to reflect each other structurally. In particular, national cultural differences influence the shape and functioning of organizations (Hickson & Pugh, 1995; Hofstede, 1991). Besides, literature found that good governance has a positive impact on organizational performance. Gemmill and Thomas (2004) note that good corporate governance and firm value are positively correlated. Corporate governance mechanisms can guarantee for shareholders an adequate return on their investments (Shleifer & Vishny, 1997). Given the culture-structure link and the correlation between good governance and performance, the purpose of this study is to identify the extent to which corporate governance model in Lebanon fits with the A nglo-American model. If it fits, the objective of the study will be how to maintain it? If not, the study will analyze the benefits of proposing a new model of corporate governance or adapting the existing one. 1.2 Nature of the Study The empirical analysis contained herein is of qualitative nature. Qualitative research seeks to understand the social world from the perspectives of research participants and the detailed descriptions of their experiences (Myers, 2000).The richness and depth of explorations and descriptions represent one of the

Gerdes Psychological Services Essay Example for Free

Gerdes Psychological Services Essay E3-1B| (Transaction Analysis—Service Company) Brown is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred. | | | April| | | | | | | 3| Purchased supplies on account $1,610.| | | | | 11| Completed a tax assignment and billed client $2,530 for services rendered. | | 12| Received $7,360 advance on a management consulting engagement.| | 17| Received cash of $5,290 for services completed for Calunga Co.| | 21| Paid insurance expense $253.| | 30| Owe the secretary-receptionist $2,668 for the month.| | 30| A count of supplies indicated that $276 of supplies had been used. | | 30| Purchased a new computer for $14,030| (LO 4)| | | InstructionsJournalize the transactions in the general journal. (Omit explanations.)Problem #3| | E3-3B | (Corrected Trial Balance) The trial balance of Cervantes Corporation, below, does not balance. | | | CERVANTES CORPORATIONTRIAL BALANCEAPRIL 30, 2010| | Debit| Credit| Cash| $11,824| | Accounts Receivable| 10,480| | Supplies on Hand| 5,934| | Furniture and Equipment| 12,200| | Accounts Payable| | $14,088| Common Stock| | 16,000| Retained Earnings| | 4,000| Service Revenue| | 10,400| Office Expense| 8,640| | | $49,078| $44,488| An examination of the ledger shows these errors. | 1. | Cash received from a customer on account was recorded as $2,760 instead of $3,660.| | 2. | The purchase on account of a computer costing $6,400 was recorded as a debit to Office Expense and a credit to Accounts Payable.| | 3. | Services were performed on account for a client, $4,500, for which Accounts Receivable was debited $4,500 and Service Revenue was credited $450.| | 4. | A payment of $190 for telephone charges was entered as a debit to Office Expenses and a debit to Cash.| | 5. | The Service Revenue account was totaled at $10,400 instead of $10,560.| | (LO 4)| | | InstructionsFrom this information prepare a corrected trial balanceProblem #4| | | | | | | | E3-5B | (Adjusting Entries) The ledger of Chan Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. | | | | Debit| Credit| Prepaid Insurance| $ 2,700| | Supplies| 2,100| | Equipment| 18,750| | Accumulated Depreciation—Equipment| | $ 6,300| Notes Payable| | 15,000| Unearned Rent Revenue| | 6,975| Rent Revenue| | 45,000| Interest Expense| –0– | | Wage Expense| 10,500| | An analysis of the accounts shows the following. | 1. | The equipment depreciates $188 per month.| | 2. | One-third of the unearned rent was earned during the quarter.| | 3. | Interest of $375 is accrued on the notes payable.| | 4. | Supplies on hand total $637.| | 5. | Insurance expires at the rate of $225 per month.| | (LO 5)| | | InstructionsPrepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are: Depreciation Expense; Insurance Expense; Interest Payable; and Supplies Expense.| | | | Problem # 5 | | | | E3-8B | (Adjusting Entries) Dement is the new owner of Fung Computer Services. At the end of August 2010, his first month of ownership, Dement is trying to prepare monthly financial statements. Below is some information related to unrecorded expenses that the business incurred during August. | 1. | At August 31, Dement owed his employees $2,280 in wages that will be paid on September 1.| | 2. | At the end of the month he had not yet received the months utility bill. Based on past experience, he estimated the bill would be approximately $720.| | 3. | On August 1, Dement borrowed $36,000 from a local bank on a 15-year mortgage. The annual interest rate is 6%.| | 4. | A telephone bill in the amount of $140 covering August charges is unpaid at August 31.5.During August, Dement earned $1000 of $6000 that was received from a client at the end of July.| | (LO 5)| | | InstructionsInstructionsPrepare the adjusting journal entries as of August 31, 2010, suggested by the information above.| | | | |

Efficient Market Hypothesis and Behavioural Finance

Efficient Market Hypothesis and Behavioural Finance 1.1 Aim of Chapter This chapter aims to give an overview of the dissertation. To start with, general backgrounds concerning the efficient market hypothesis (EMH), behavioral finance and market anomalies are mentioned briefly in order to provide better understanding about the modern area of financial study. Then, two opposed concepts of investment strategies, Contrarian Strategies and Momentum Strategies, are addressed leading to the next section which mention the main purpose and summary of findings of this research. Lastly, the structure of the dissertation has been outlined at the end of the chapter. 1.2 Background of knowledge about efficient market hypothesis (EMH) The theory of market hypothesis (EMH) is one of the most crucial theories in standard finance that have been revised and tested over the past few decades to uncover its imperfection. This theory was introduced by Professor Eugene Fama in 1970. As defined in his article, the efficient market is the market where securities are priced, at any point of time, by accessible information. It is believed that the markets are extremely efficient that individual stocks and stock markets as a whole are fully reflected by all available information. When new information enters the market, stock prices incorporates the news and responds very quickly with our any delays; therefore security prices are the accurate source of data which can be used as signals in trading investment process. By examining the level of how relevant information reflects in security prices, Fama (1970) categorizes the market efficiency into three forms: weak, semi-strong and strong forms of EMH. However, this theory relies o n certain assumptions, for example, there is no transaction cost paid in trading securities and it is costless for all participants to gather information available in the markets. The weak form of EMH is the condition that exists when share prices are fully reflected by trading data such as past price (or return) histories. For that reason, investors cannot exploit mispriced securities and earn excess returns by using historical stock quotations or charts. Semi-strong form of EMH is the condition that exists when share prices incorporates market trading data and publicly available information. The examples of this type of information are announcements of annual earnings, stock splits, annual reports, analyst forecasts, etc. As a consequence, investors cannot exhibit gains by rely only on fundamental and macro-economics data. Strong form of EMH is the condition that exists when market prices of stocks adjusted according to every kind of accessible information. This includes hidden inside information which are known among specific group in the company (e.g. the top executives and group of operational managers) or some individuals that have monopolistic access to information (e.g. managements of mutual funds). Thus, abnormal profits cannot be generated by either using internal or external information of the company. In other words, both individual and professional investors cannot beat the market and earn excess returns in every way due to the perfect efficiency of the stock markets. As claimed by efficient market hypothesis, market will be efficient in weak form if the past and future returns are not correlated, in other words, they are independently and identically distributed. Thus this refers to the idea of the random walk model. However, Fama (1970) affirms in his literature that the test of random walk model leads to the evidence of weak-form EMH, but not vice versa. Burton (2003) identifies the definition of random walk in his paper that it is the state where the flow of information on specific day is incorporated in stock prices on that day only, not for the subsequent period. The news announced in the market is unpredictable, thus stock prices changes are displayed in a random pattern. As a consequence, uninformed investors are able to earn equal rate of returns as what achieved by professional investors if they long position in well-diversified portfolios. In his paper, Burton tries to examine the criticism of the efficient market hypothesis and the idea that stock prices can be predicted based on initial valuation parameters (e.g. price-earnings multiple or dividend yield). He uses time-series analyses of accounting numbers and multiples and comes up with the results revealing that the stocks market are efficient enough, but it is difficult to predict the share prices. Moreover, the findings also reveal that anomalous behavior of stock price s may exist, but investors cannot create portfolio trading opportunity and gains excess risk adjusted returns. Fama (1997) states in his study that there are many literatures concerning behavioral finance and market anomalies challenge the hypothesis of efficient market. The opposed idea suggests that stock prices slowly absorb information available, which can be denoted as the market inefficiency. 1.3 Behavioral Finance and Market Anomalies Behavioral finance is the new area of financial study concentrating on the psychology of market and its participants. This field of study has started to appear in many academic journals from 1990s. Shefrin (2002) publish a book regarding the behavioral finance trying to find and explain reason behind the behavior of investors, both professional and individual. The author suggests that investors, who are sometimes prone to commend mistakes and errors, tend to rely on their emotional and psychological forces, thus this causes many market anomalies, the state where there is inefficiency in stock markets, to take place. Two well-known papers of Berberis, Shleifer, and Vishny (1998) and Daniel, Hirshleifer, and Subramanyam (1997) proposed behavioral models to explain the conflicting theory of efficient market hypothesis. They reject the previous belief with the proposition that the behavioral biases (i.e. judgment bias) of investors cause the anomalies and knock down the old theory behind. They present the concepts of over-reaction and under-reaction which accommodates the existence of long-term excess returns. Berberis, Shleifer, and Vishny (1996) create a model based on cognitive psychology of two judgment biases: the representativeness bias and conservatism. In their study, the empirical findings of investors’ behaviors are divided into two main groups: one perceives that earnings are mean-reverting. Thus, stock prices show a delayed short-term response and under-react to change in earnings. Another group believes that firms’ earnings are trending which leads to the overreaction in stock prices. The earnings follow the random walk process; hence, this leads to reversal of long-term returns. Daniel, Hirshleifer, and Subramanyam (1997) have different views in conducting the behavioral models. They split the sample group of investors into two categories: informed and uninformed investors. They find that judgment biases are not found among the uninformed investors, but detected among the informed ones. Informed investors are the group of people that determine the stock prices. They are exposed to two kinds of behavioral biases: overconfidence and self-attribution biases. Overconfidence causes the overstatement in investors perception of their private stock prices signals, while self-attribution bias causes investors to underweight the public signals about the value of companies. Therefore, the circumstance of overreaction to private information and under-reaction to public information generates continuation of stock returns in the short run. Overreaction leads to the concept of contrarian investing, whereas underreaction induces the theory of momentum investing. 1.4 Investment Strategies 1.4.1 Contrarian Investing Contrarian investing is the strategy that aims to generate profits by investing in the direction that goes against the conventional investors. In normal condition, short-sighted investors, who overweight the recent trends of past stocks prices and use this information to predict future prices, engage in buying stocks with good performance in the past hoping that it will continue to perform well in the near future. However, contrarian investing focuses on the opposite direction. People who employ this strategy tend to buy the shares that others have given up on due to either their poor past performance or their miserable and unclear future prospect. They expect the market to react to the behavior of the crowd, so that they can exploit the mispricing of securities and earn abnormal returns. 1.4.2 Momentum Investing Momentum investing is the strategy that is the opposite of contrarian investing. People who employ this strategy seek for making profits by relying on the continuance of the past stock prices and trends in the market in an attempt to predict prospective prices in the future. It is believed that the good stocks with price increases and strong performance in the past will keep on outperforming and generate gains in the future, and vice versa for the poor stocks. Thus, momentum investing suggests investors to hold stocks that had high returns and sell those that had low returns (buy winners and sell losers). The detailed of these two investment strategies will be discussed in the next chapter which both strategies will be supported by existing empirical evidences from several renowned academic papers. 1.5 Purpose and Findings of the Research The purpose of this research is to examine the profitability of momentum strategies, which is one of the most debated investment strategies in financial study, in the UK stock market. This paper employs the prices and returns data of FTSE 100 composites – the top 100 biggest companies in London Stock Exchange – as a proxy of the whole UK stocks. The observation period lies between July 21, 2000 to July 21, 2010, which gives a total of 10 years period. Thus, the main contribution of this study is to comprehensively revise existing literatures and employ the more up-to-date the data set with the well-known procedure to test the existence of momentum investing and its profitability in the UK market. However, the findings reveal no evidence of momentum profitability in the observed time for UK stock market, which are inconsistent with the prior research conducted using the different sample periods. 1.6 Structure of the Dissertation The rest of the dissertation is organized as follows: Chapter two comments on the review of the literature regarding the momentum strategies and its criticism, including the opposed theory of contrarian investing. Academic papers concerning the momentum strategies are divided into categories regarding the region of data employed. We carefully asserted and analyzed each paper to find the gaps which are necessary to be concerned for further researches in the future. Then, chapter three gives an overview of data and methodology used in this research. Chapter four shows the summary statistics of data, empirical results and interpretations. Finally, last chapter provides a summary of the results, as well as the limitations of the study.

Transcendence in Marilynne Robinson’s Housekeeping Essay -- Robinson H

Transcendence in Marilynne Robinson’s Housekeeping William H. Burke suggests that transience in Marilynne Robinson’s Housekeeping is a type of pilgrimage, and that â€Å"the rigors and self-denials of the transient life are necessary spiritual conditioning for the valued crossing from the experience of a world of loss and fragmentation to the perception of a world that is whole and complete† (717). The world of reality in Housekeeping is one â€Å"fragmented, isolated, and arbitrary as glimpses one has at night through lighted windows† (Robinson 50). Many of the characters that precede Ruth in the narrative rebel against something in this world that is not right. Edmund Foster, her grandfather, escapes by train to the Midwest and his house is â€Å"no more a human stronghold than a grave† (3). His daughters, Molly, Sylvie, and Helen, all abandon their home and their mother; Helen, in fact, makes the greatest â€Å"leap† away from the world into death when she cannot effectively deal with the expecta tions placed on her to â€Å"set up housekeeping in Seattle† with husband and children (14). Ruth takes up a transient life with her mentor and aunt, Sylvie, to escape from history and the past into a new life, a new awareness. Crucial to this spiritual awakening is the abandonment and the isolation of the self. Transience is Ruth’s escape from the impermanent illusory world, a world that rejects one of the tenets of transience, that â€Å"the perimeters of our wanderings are nowhere† , in favor of fixity and stasis (218). She acknowledges the world’s illusory nature when she admits that she has â€Å"never distinguished readily between thinking and dreaming†, and that â€Å"Everything that falls upon the eye is apparition, a sheet dropped over the world’s true workings... ...orld (219). Works Cited Burke, William H. â€Å"Border Crossinsgs in Marilynne Robinson’s Housekeeping.† Modern Fiction Studies. 37 (Winter 1991): 716-724. Mallon, Anne-Marie. â€Å"Sojourning Women: Homelessness and Transcendence in Housekeepking.† Critique 30 (Winter 1989): 95-105. Miller, Heather. Grace Through Isolation in Herland, Housekeeping, and Ellen Foster. Masters Thesis. University of Southern Mississippi, Hattiesburg. December 1991. Ross, Dianne Lillian. The Circle in the Waters: Unity and Visions of Regeneration and Immortality in Housekeeping, To the Lighthouse, and Surfacing. Masters Thesis. UVA May 1986 Schuler, Carol. Crossing the Boundaries with M/Other: Beyond Dualism into the Dream of a World made Whole in Marilynne Robinson’s Housekeeping. Masters Thesis. California State University, Stanislaus. May 1994.

Informatics Solution Proposal: Problem Identificatio Essay

It is no surprise that customer satisfaction is the primary focus for successful delivery of healthcare. The health care industry is booming with technological trends and consumer empowerment is evident. Patients are able to shop around for the best health care available at the right cost, forcing facilities to upgrade to the latest technology in order to compete. The problem is patients often get confused keeping up with different providers and different facilities. On top of that are expected to remember their medications and complete health history, along with diagnosis, different exams and lab testing. Health care costs are on the rise because of repeat tests and data is lost in the shuffle. Our goal is to find a technical solution providing patients with an easily accessible, comprehensive overview of their entire health history. The patient deserves access to their health records, health education at their fingertips, and most of an organized system to provide the best health c are possible. Our best solution is the personal health records category. Personal health information can be easily accessed online wherever internet is provided. There can be one or multiple databases that safely stores their information and with easy access, patients won’t feel so frustrated having to wait for a healthcare worker. Another rationale is that personal health record systems can offer multiple functions for the patients, such as paying their medical bills, renewing their medications, and more. Designing the appropriate PHR system can provide an endless amount of functions to help meet patients’ needs. Finally, a PHR can save patients and providers both time and money. PHR systems can decrease the labor needed to provide patients with information while still maintaining effective communication between providers and patients (Kaelber & Pan, 2008). Some ethical issues to consider would be protecting patient privacy. Information entered into the  iPad, even something such as calling the front desk, must go through a server (or a third party). This may compromise privacy. It could end up in the iCloud, or even be hacked. Visitors in the room may see sensitive information. Additionally, expecting an older population to use an iPad could be seen as discriminatory According to Hebda, and Czar (2013), legal issues for interactive applications of consumer health information involving PHI include protecting privacy and security of PHI. Many consumer health web sites are lack ing in protection of healthcare information. Some issues included lack of anonymity, poor protection for privacy policies and health information as well as inadequate privacy policies. Special attention will have to be made to adhere to the HON code of conduct for protecting users with the implementation of interactive health care technologies. As part of the American Recovery and Reinvestment Act of 2009, Congress directed the Federal Trade Commission (FTC) to rule on the use of electronic health information and the devices and systems used to access this information. The final ruling requires vendors of PHR’s and related services to notify the FTC, potential involved consumers, and associated services providers of any breach in security as this information is now to be covered by the Health Insurance Portability and Accountability Act (HIPAA) (FTC, 2009). This ruling also provides for consultation on potential privacy and security breaches between the FTC and the Department of Health and Human Services (FTC, 2009). Project Overview: The purpose of the Informatics Solution Proposal is to promote nursing students’ comfort and knowledge with informatics and technology products for the health care workplace setting. Students review the functionality of various products and select one that best meets the needs of a health care setting. Learning Teams collaborate to identify a clinical or administrative issue and propose an informatics solution. Each week, Learning Teams work on an element of this project. In Week Five, teams compile their work into a proposal appropriate for the directors of a health care organization. Project Elements: Week Two: Problem Identification Collaborate with your Learning Team to identify an issue in a health care workplace that could be resolved by implementing an informatics or technology solution. The issue could be an administrative issue or a clinical issue. Draft a letter or memo to a nursing administrator informing her or him of the clinical or administrative problem, why it is a concern, and a request for permission to propose a solution. Support your letter with at least three peer-reviewed resources. Format the letter consistent with APA guidelines for formal business correspondence. Provide an APA-formatted reference page for all resources used. Note. Do not send the letter. Week Three: General Solution Collaborate with your Learning Team to determine a category of informatics or technology that could be implemented to solve the clinical or administrative issue. Compose a 350- to 500-word summary of the benefits of selecting a product from this category of technology or informatics system. Address the following: Identify a category of informatics or technology solution that may be appropriate for the identified workplace. Note. Select a category of solution but not a specific product. Provide rationale for why this category of solution may help address the clinical or administrative problem. Describe regulatory, legal, or ethical issues this category of solution may cause or resolve. Include a minimum of three peer-reviewed references, and develop an APA-formatted reference page. Format your paper consistent with APA guidelines. Week Four: Areas of Evaluation Select two products from the category that your Learning Team identified in Week Three. For example, if you selected the category of EHRs, then identify two specific EHR products. Describe a minimum of five criteria with which to evaluate the functionality of the two products. Ease of use Clarity Time Select two or more additional features to evaluate. Include a minimum of three references. References may include product websites or other reputable sources in addition to peer-reviewed resources. Faculty approval is required for sources other than peer-reviewed resources. Provide an APA-formatted reference page for all resources used. Week Five: Specific Solution Proposal Develop a proposal in which you evaluate two specific products from the general category previously selected. The goal is to persuade the directors of the health care workplace to implement your chosen informatics solution. Address the following details: Brief description of the administrative or clinical issue Concise overview of the two products (include evaluation of all relevant features of each product) Clear explanation of why one product is chosen for implementation (not both) Two suggestions of how the chosen product could be implemented Two suggestions for how the chosen product would be evaluated after implementation (one qualitative and one quantitative) Identify a future trend in this area Develop a presentation using one of the following formats: Microsoft ® PowerPoint ® Presentation including 15–20 slides and speaker’s notes Oral presentation including appropriate visual aid (for example, a handout or brochure) Prezi ® Presentation Another format approved by your facilitator Include a minimum of seven peer-reviewed references, and develop an APA-formatted reference page. Format your proposal and reference page consistent with APA guidelines. References Federal Trade Commission. (August 17, 2009). FTC Issues Final Breach Notification Rule for Electronic Health Information. Retrieved from http://www.ftc.gov/news-events/press-releases/2009/08/ftc-issues-final-breach-notification-rule-electronic-health Hebda, T., & Czar, P. (2013). Handbook of informatics for nurses & healthcare professionals (5th ed.). Upper Saddle River, NJ: Pearson Prentice Hall. Kaelber, D. & Pan, E.C. (2008). The value of personal health record (PHR) systems. Retrieved from http://www.ncbi.nlm.nih.gov/pmc/articles/PMC2655982/. Informatics Solution Proposal Overview

Free Essays on Gods Fidelity Through Jesus

â€Å"Faith is believing what you do not see; the reward of faith is to see what you believe.† -St. Augustine Jesus Christ is the cornerstone of the Christian faith – the very foundation of the church. Despite persecution, turbulent times, and schisms in the church, it has survived to this day based on the life of Jesus Christ. The church remains strong to this day because it focuses on God’s gift to mankind, the death and resurrection of Jesus Christ. God’s fidelity to mankind was expressed in historical implications, apocalyptic possibilities, and divine creativity. The historical aspects of Jesus of Nazareth’s life played a role in his crucifixion and resurrection. He was born into turmoil. Until taken by Babylonians in 587 b.c.e., Israel was ruled by kings. For hundreds of years before Jesus’ birth, Israel was invaded, captured, built, and destroyed many times. Many supposed â€Å"messiahs† had surfaced to lead rebellions against the government and aristocracy in hopes that God would finish the war and restore a lost monarchy. Romans, who ruled Israel at Jesus’ time, saw any Jewish leader or revolutionary as a threat. The high priests, who were the figureheads of the social hierarchy, had much to protect in their way of life. Both Romans and the priesthood had power, money, and their way of life staked on defeating any potential rebellions. Since Jesus proclaimed the â€Å"Kingdom of God,† â€Å"Reign of God,† and other such sayings, it was taken by the leaders of Israel as a threat to restore the monarchy. In Genesis 6, God wiped the earth clean of all He created. With the exception of Noah, his family, and the animals aboard the ark, God destroyed his handiwork. The possibility existed once again when Jesus was nailed to the cross. Jesus Christ is considered by Christians to be the savior of mankind; the world would not exist without his sacrifice. If Jesus lost his faith and did not love man,... Free Essays on God's Fidelity Through Jesus Free Essays on God's Fidelity Through Jesus â€Å"Faith is believing what you do not see; the reward of faith is to see what you believe.† -St. Augustine Jesus Christ is the cornerstone of the Christian faith – the very foundation of the church. Despite persecution, turbulent times, and schisms in the church, it has survived to this day based on the life of Jesus Christ. The church remains strong to this day because it focuses on God’s gift to mankind, the death and resurrection of Jesus Christ. God’s fidelity to mankind was expressed in historical implications, apocalyptic possibilities, and divine creativity. The historical aspects of Jesus of Nazareth’s life played a role in his crucifixion and resurrection. He was born into turmoil. Until taken by Babylonians in 587 b.c.e., Israel was ruled by kings. For hundreds of years before Jesus’ birth, Israel was invaded, captured, built, and destroyed many times. Many supposed â€Å"messiahs† had surfaced to lead rebellions against the government and aristocracy in hopes that God would finish the war and restore a lost monarchy. Romans, who ruled Israel at Jesus’ time, saw any Jewish leader or revolutionary as a threat. The high priests, who were the figureheads of the social hierarchy, had much to protect in their way of life. Both Romans and the priesthood had power, money, and their way of life staked on defeating any potential rebellions. Since Jesus proclaimed the â€Å"Kingdom of God,† â€Å"Reign of God,† and other such sayings, it was taken by the leaders of Israel as a threat to restore the monarchy. In Genesis 6, God wiped the earth clean of all He created. With the exception of Noah, his family, and the animals aboard the ark, God destroyed his handiwork. The possibility existed once again when Jesus was nailed to the cross. Jesus Christ is considered by Christians to be the savior of mankind; the world would not exist without his sacrifice. If Jesus lost his faith and did not love man,...