Teacher’s Conceptions of Caring and Protective Teaching Elements in Rwamwanja Refugee Settlement Schools

The purpose of this study is to find out what conceptions Rwamwanja refugee settlement teachers have about caring teaching methods. The study was conducted by analysing the data gathered from semi-structured interviews. Twelve teachers were interviewed in four different refugee settlement schools. The main theory of this study is based on ethics of care research by Nel Noddings. In addition, the framework was developed by combining the theories of resilience and psychosocial support which are often employed in research concerning emergency contexts. This study uses qualitative content analysis to describe the conceptions of caring teachers have and protective teaching elements they employ. The results of this study show that many of the key elements of caring and protective teaching were present in teacher’s answers. For example, in their answers, the majority of the teachers pointed out the significance of using soft discipline. However, many teaching elements considered ideal in emergency contexts were missing. These missing methods include routines and flexibility which are considered essential for vulnerable children. The teachers’ levels of conceptual thinking varied remarkably depending on their language skills. The communication was limited to very basic and concrete language in some of the interviews due to lack of mutual understanding. This also raised a question about the level of understanding between refugee pupils and teachers since there is no strong common language between them. The results of this research call for further studies about the effect of caring teaching elements in growth of resilience in refugee children. Keywords: The ethics of care, resilience, psychosocial support, education in emergencies, refugees, education, protection.

Capital structure of Finnish firms – Estimating the effects of firm characteristics on capital structure

One of the most disputable matters in the theory of finance has been the theory of capital structure. The seminal contributions of Modigliani and Miller (1958, 1963) gave rise to a multitude of studies and debates. Since the initial spark, the financial literature has offered two competing theories of financing decision: the trade-off theory and the pecking order theory. The trade-off theory suggests that firms have an optimal capital structure balancing the benefits and costs of debt. The pecking order theory approaches the firm capital structure from information asymmetry perspective and assumes a hierarchy of financing, with firms using first internal funds, followed by debt and as a last resort equity. This thesis analyses the trade-off and pecking order theories and their predictions on a panel data consisting 78 Finnish firms listed on the OMX Helsinki stock exchange. Estimations are performed for the period 2003–2012. The data is collected from Datastream system and consists of financial statement data. A number of capital structure characteristics are identified: firm size, profitability, firm growth opportunities, risk, asset tangibility and taxes, speed of adjustment and financial deficit. A regression analysis is used to examine the effects of the firm characteristics on capitals structure. The regression models were formed based on the relevant theories. The general capital structure model is estimated with fixed effects estimator. Additionally, dynamic models play an important role in several areas of corporate finance, but with the combination of fixed effects and lagged dependent variables the model estimation is more complicated. A dynamic partial adjustment model is estimated using Arellano and Bond (1991) first-differencing generalized method of moments, the ordinary least squares and fixed effects estimators. The results for Finnish listed firms show support for the predictions of profitability, firm size and non-debt tax shields. However, no conclusive support for the pecking-order theory is found. However, the effect of pecking order cannot be fully ignored and it is concluded that instead of being substitutes the trade-off and pecking order theory appear to complement each other. For the partial adjustment model the results show that Finnish listed firms adjust towards their target capital structure with a speed of 29% a year using book debt ratio.