A tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures. A failure to pay, along with resistance to taxation, is punishable by law. Taxes may be paid in money or as its labour equivalent. Most countries have a tax system in place to pay for public, common or agreed national needs and government functions; some levy a flat percentage rate of taxation on personal annual income, but most scale taxes based on annual income amounts. Most countries charge a tax both on corporate income and dividends. Countries or subunits also impose wealth taxes, property taxes, sales taxes, value-added taxes, payroll taxes or tarrifs; the legal definition, the economic definition of taxes differ in some ways such as economists do not regard many transfers to governments as taxes. For example, some transfers to the public sector are comparable to prices. Examples include, tuition at public universities, fees for utilities provided by local governments.
Governments obtain resources by "creating" money and coins, through voluntary gifts, by imposing penalties, by borrowing, by confiscating wealth. From the view of economists, a tax is a non-penal, yet compulsory transfer of resources from the private to the public sector, levied on a basis of predetermined criteria and without reference to specific benefit received. In modern taxation systems, governments levy taxes in money; the method of taxation and the government expenditure of taxes raised is highly debated in politics and economics. Tax collection is performed by a government agency such as the Ghana Revenue Authority, Canada Revenue Agency, the Internal Revenue Service in the United States, Her Majesty's Revenue and Customs in the United Kingdom or Federal Tax Service in Russia; when taxes are not paid, the state may impose civil penalties or criminal penalties on the non-paying entity or individual. The levying of taxes aims to raise revenue to fund governing or to alter prices in order to affect demand.
States and their functional equivalents throughout history have used money provided by taxation to carry out many functions. Some of these include expenditures on economic infrastructure, scientific research and the arts, public works, data collection and dissemination, public insurance, the operation of government itself. A government's ability to raise taxes is called its fiscal capacity; when expenditures exceed tax revenue, a government accumulates debt. A portion of taxes may be used to service past debts. Governments use taxes to fund welfare and public services; these services can include education systems, pensions for the elderly, unemployment benefits, public transportation. Energy and waste management systems are common public utilities. According to the proponents of the chartalist theory of money creation, taxes are not needed for government revenue, as long as the government in question is able to issue fiat money. According to this view, the purpose of taxation is to maintain the stability of the currency, express public policy regarding the distribution of wealth, subsidizing certain industries or population groups or isolating the costs of certain benefits, such as highways or social security.
Effects can be divided in two fundamental categories: Taxes cause an income effect because they reduce purchasing power to taxpayers. Taxes cause a substitution effect when taxation causes a substitution between taxed goods and untaxed goods. If we consider, for instance, two normal goods, x and y, whose prices are px and py and an individual budget constraint given by the equation xpx + ypy = Y, where Y is the income, the slope of the budget constraint, in a graph where is represented good x on the vertical axis and good y on the horizontal axes, is equal to -py/px; the initial equilibrium is in the point, in which budget constraint and indifference curve are tangent, introducing an ad valorem tax on the y good, the budget constraint's slope becomes equal to -py/px. The new equilibrium is now in the tangent point with a lower indifferent curve; as can be noticed the tax's introduction causes two consequences: It changes the consumers' real income It raises the relative price of y good. The income effect shows the variation of y good quantity given by the change of real income.
The substitution effect shows the variation of y good determined by relative prices' variation. This kind of taxation can be considered distortionary. Another example can be the Introduction of an income lump-sum tax, with a parallel shift downward of the budget constraint, can be produced a higher revenue with the same loss of consumers' utility compared with the property tax case, from another point of view, the same revenue can be produced with a lower utility sacrifice; the lower utility or the lower revenue given by a distortionary tax are called excess pressure. The same result, reached with an income lump-sum tax, can be obtained with these following types of taxes (all of them cause only a budget constraint's shift without causi
A foundation is a legal category of nonprofit organization that will either donate funds to and support other organizations, or provide the source of funding for its own charitable purposes. Foundations incorporate public foundations to pool funds and private foundations who are endowed by an individual or family. One of the characteristics of the legal entities existing under the status of "Foundations", is a wide diversity of structures and purposes. There are some common structural elements that are first observed under legal scrutiny or classification. Legal requirements followed for establishment Purpose of the foundation Economic activity Supervision and management provisions Accountability and Auditing provisions Provisions for the amendment of the statutes or articles of incorporation Provisions for the dissolution of the entity Tax status of corporate and private donors Tax status of the foundationSome of the above must be, in most jurisdictions, expressed in the document of establishment.
Others may be provided by the supervising authority at each particular jurisdiction. There is no accepted legal definition in Europe for a foundation. There is a proposal for a European Foundation, a legal form that would be recognised throughout Europe, see European Foundation Project; the term "foundation," in general, is used to describe a distinct legal entity. Foundations as legal structures and/or legal persons, may have a diversity of forms and may follow diverse regulations depending on the jurisdiction where they are created. Foundations are set up for charitable purposes, family patrimony and collective purposes. In some jurisdictions, a foundation may acquire its legal personality when it is entered in a public registry, while in other countries a foundation may acquire legal personality by the mere action of creation through a required document. Unlike a company, foundations have no shareholders, though they may have a board, an assembly and voting members. A foundation may hold assets in its own name for the purposes set out in its constitutive documents, its administration and operation are carried out in accordance with its statutes or articles of association rather than fiduciary principles.
The foundation has a distinct patrimony independent of its founder. Foundations in Finland must have state approval and register at the National Board of Patents and Registration within six months from its creation. A minimum capital of €25,000 is obligatory. A foundation can be created with any legal purpose and may have economic activity if this is specified in its Bylaws and the business supports the foundation's purpose. There are not many Foundations in comparison to the rest of Europe. In practice public administration requires at least €1 million necessary. States representatives have a mandatory seat in the Board. German regulations allow the creation of any foundation for public or private purposes in keeping with the concept of a gemeinwohlkonforme Allzweckstiftung. A foundation should not have commercial activities as its main purpose, but they are permitted if they serve the main purpose of the foundation. There is no minimum starting capital. A German foundation can either serve a private interest.
Charitable foundations enjoy tax exemptions. If they engage in commercial activities, only the commercially active part of the entity is taxed. A family foundation serving private interests is taxed like any other legal entity. There is no central register for German foundations. Only charitable foundations are subject to supervision by state authorities. Family foundations are not supervised after establishment. All forms of foundations can be dissolved, however. Foundations are supervised by local authorities within each state because each state has exclusive legislative power over the laws governing foundations. In contrast to many other countries, German law allows a tax sheltered charitable foundation to distribute up to one third of its profit to the founder and his next of kin, if they are needy, or to maintain the founder's grave; these benefits are subject to taxation. As of 2008, there are about 15,000 foundations in about 85 % of them charitable foundations. More than 250 charitable German foundations have existed for more than 500 years.
There are large German corporations owned by foundations, including Bertelsmann, Carl Zeiss AG and Lidl. Foundations are the main providers of private scholarships to German students. In Italy, a foundation is a private non profit and autonomous organization, its assets must be dedicated to a purpose established by the founder; the founder can not have reverted the initial assets. The private foundations or civil code foundations are under the section about non commercial entities of the first book of the Civil Code of Law from 1942; the Art. 16 CC establishes that the statutes of the foundation must contain its name, assets, administrative organs and regulations, how the grants will be distributed. The founder must write a declaration of intention including a purpose and endow assets for such purpose; this document can be in the form of a will. To obtain legal personality, the foundation must enroll in the legal register of each Prefettura or some cases the regional authority. There are several nuances in requirements according to each foundation's purpose and area of activity.
See private foundation in the Netherlands
Money is any item or verifiable record, accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Any item or verifiable record that fulfils these functions can be considered as money. Money is an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money. Fiat money, like any note of debt, is without use value as a physical commodity, it derives its value by being declared by a government to be legal tender. Counterfeit money can cause good money to lose its value; the money supply of a country consists of currency and, depending on the particular definition used, one or more types of bank money. Bank money, which consists only of records, forms by far the largest part of broad money in developed countries.
The word "money" is believed to originate from a temple of Juno, on Capitoline, one of Rome's seven hills. In the ancient world Juno was associated with money; the temple of Juno Moneta at Rome was the place. The name "Juno" may derive from the Etruscan goddess Uni and "Moneta" either from the Latin word "monere" or the Greek word "moneres". In the Western world, a prevalent term for coin-money has been specie, stemming from Latin in specie, meaning'in kind'; the use of barter-like methods may date back to at least 100,000 years ago, though there is no evidence of a society or economy that relied on barter. Instead, non-monetary societies operated along the principles of gift economy and debt; when barter did in fact occur, it was between either complete strangers or potential enemies. Many cultures around the world developed the use of commodity money; the Mesopotamian shekel was a unit of weight, relied on the mass of something like 160 grains of barley. The first usage of the term came from Mesopotamia circa 3000 BC.
Societies in the Americas, Asia and Australia used shell money – the shells of the cowry. According to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins, it is thought by modern scholars that these first stamped coins were minted around 650–600 BC. The system of commodity money evolved into a system of representative money; this occurred because gold and silver merchants or banks would issue receipts to their depositors – redeemable for the commodity money deposited. These receipts became accepted as a means of payment and were used as money. Paper money or banknotes were first used in China during the Song dynasty; these banknotes, known as "jiaozi", evolved from promissory notes, used since the 7th century. However, they did not displace commodity money, were used alongside coins. In the 13th century, paper money became known in Europe through the accounts of travelers, such as Marco Polo and William of Rubruck. Marco Polo's account of paper money during the Yuan dynasty is the subject of a chapter of his book, The Travels of Marco Polo, titled "How the Great Kaan Causeth the Bark of Trees, Made Into Something Like Paper, to Pass for Money All Over his Country."
Banknotes were first issued in Europe by Stockholms Banco in 1661, were again used alongside coins. The gold standard, a monetary system where the medium of exchange are paper notes that are convertible into pre-set, fixed quantities of gold, replaced the use of gold coins as currency in the 17th–19th centuries in Europe; these gold standard notes were made legal tender, redemption into gold coins was discouraged. By the beginning of the 20th century all countries had adopted the gold standard, backing their legal tender notes with fixed amounts of gold. After World War II and the Bretton Woods Conference, most countries adopted fiat currencies that were fixed to the U. S. dollar. The U. S. dollar was in turn fixed to gold. In 1971 the U. S. government suspended the convertibility of the U. S. dollar to gold. After this many countries de-pegged their currencies from the U. S. dollar, most of the world's currencies became unbacked by anything except the governments' fiat of legal tender and the ability to convert the money into goods via payment.
According to proponents of modern money theory, fiat money is backed by taxes. By imposing taxes, states create demand for the currency. In Money and the Mechanism of Exchange, William Stanley Jevons famously analyzed money in terms of four functions: a medium of exchange, a common measure of value, a standard of value, a store of value. By 1919, Jevons's four functions of money were summarized in the couplet: Money's a matter of functions four, A Medium, a Measure, a Standard, a Store; this couplet would become popular in macroeconomics textbooks. Most modern textbooks now list only three functions, that of medium of exchange, unit of account, store of value, not considering a standard of deferred payment as a distinguished function, but rather subsuming it in the others. There have been many historical disputes regarding the combination of money's functions, some arguing that they need more separation and that a s
A security is a tradable financial asset. The term refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some jurisdictions the term excludes financial instruments other than equities and fixed income instruments. In some jurisdictions it includes some instruments that are close to equities and fixed income, e.g. equity warrants. In some countries and languages the term "security" is used in day-to-day parlance to mean any form of financial instrument though the underlying legal and regulatory regime may not have such a broad definition. In the United Kingdom, the national competent authority for financial markets regulation is the Financial Conduct Authority. In the United States, a security is a tradable financial asset of any kind. Securities are broadly categorized into: debt securities equity securities derivatives; the company or other entity issuing the security is called the issuer. A country's regulatory structure determines. For example, private investment pools may have some features of securities, but they may not be registered or regulated as such if they meet various restrictions.
Securities may be represented by a certificate or, more "non-certificated", in electronic or "book entry" only form. Certificates may be bearer, meaning they entitle the holder to rights under the security by holding the security, or registered, meaning they entitle the holder to rights only if he or she appears on a security register maintained by the issuer or an intermediary, they include shares of corporate stock or mutual funds, bonds issued by corporations or governmental agencies, stock options or other options, limited partnership units, various other formal investment instruments that are negotiable and fungible. Securities may be classified according to many categories or classification systems: Currency of denomination Ownership rights Terms to maturity Degree of liquidity Income payments Tax treatment Credit rating Industrial sector or "industry". Region or country Market capitalization State Securities are the traditional way that commercial enterprises raise new capital; these may be an attractive alternative to bank loans depending on their pricing and market demand for particular characteristics.
Another disadvantage of bank loans as a source of financing is that the bank may seek a measure of protection against default by the borrower via extensive financial covenants. Through securities, capital is provided by investors who purchase the securities upon their initial issuance. In a similar way, a government may issue securities too. Investors in securities may be retail, i.e. members of the public investing other than by way of business. The greatest part of investment, in terms of volume, is wholesale, i.e. by financial institutions acting on their own account, or on behalf of clients. Important institutional investors include investment banks, insurance companies, pension funds and other managed funds; the traditional economic function of the purchase of securities is investment, with the view to receiving income or achieving capital gain. Debt securities offer a higher rate of interest than bank deposits, equities may offer the prospect of capital growth. Equity investment may offer control of the business of the issuer.
Debt holdings may offer some measure of control to the investor if the company is a fledgling start-up or an old giant undergoing'restructuring'. In these cases, if interest payments are missed, the creditors may take control of the company and liquidate it to recover some of their investment; the last decade has seen an enormous growth in the use of securities as collateral. Purchasing securities with borrowed money secured by other securities or cash itself is called "buying on margin". Where A is owed a debt or other obligation by B, A may require B to deliver property rights in securities to A, either at inception or only in default. For institutional loans, property rights are not transferred but enable A to satisfy its claims in the event that B fails to make good on its obligations to A or otherwise becomes insolvent. Collateral arrangements are divided into two broad categories, namely security interests and outright collateral transfers. Commercial banks, investment banks, government agencies and other institutional investors such as mutual funds are significant collateral takers as well as providers.
In addition, private parties may utilize stocks or other securities as collateral for portfolio loans in securities lending scenarios. On the consumer level, loans against securities have grown into three distinct groups over the last decade: 1) Standard Institutional Loans offering low loan-to-value with
Entrepreneurship is the process of designing and running a new business, initially a small business. The people who create these businesses are called entrepreneurs. Entrepreneurship has been described as the "capacity and willingness to develop and manage a business venture along with any of its risks in order to make a profit". While definitions of entrepreneurship focus on the launching and running of businesses, due to the high risks involved in launching a start-up, a significant proportion of start-up businesses have to close due to "lack of funding, bad business decisions, an economic crisis, lack of market demand—or a combination of all of these. A broader definition of the term is sometimes used in the field of economics. In this usage, an Entrepreneur is an entity which has the ability to find and act upon opportunities to translate inventions or technology into new products: "The entrepreneur is able to recognize the commercial potential of the invention and organize the capital and other resources that turn an invention into a commercially viable innovation."
In this sense, the term "Entrepreneurship" captures innovative activities on the part of established firms, in addition to similar activities on the part of new businesses. Entrepreneurship is the act of being an entrepreneur, or "the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits". Entrepreneurs oversee the launch and growth of an enterprise. Entrepreneurship is the process by which either an individual or a team identifies a business opportunity and acquires and deploys the necessary resources required for its exploitation. Early-19th-century French economist Jean-Baptiste Say provided a broad definition of entrepreneurship, saying that it "shifts economic resources out of an area of lower and into an area of higher productivity and greater yield". Entrepreneurs create something new, something different—they change or transmute values. Regardless of the firm size, big or small, they can partake in entrepreneurship opportunities; the opportunity to become an entrepreneur requires four criteria.
First, there must be situations to recombine resources to generate profit. Second, entrepreneurship requires differences between people, such as preferential access to certain individuals or the ability to recognize information about opportunities. Third, taking on risk is a necessity. Fourth, the entrepreneurial process requires the organization of resources; the entrepreneur is a factor in and the study of entrepreneurship reaches back to the work of Richard Cantillon and Adam Smith in the late 17th and early 18th centuries. However, entrepreneurship was ignored theoretically until the late 19th and early 20th centuries and empirically until a profound resurgence in business and economics since the late 1970s. In the 20th century, the understanding of entrepreneurship owes much to the work of economist Joseph Schumpeter in the 1930s and other Austrian economists such as Carl Menger, Ludwig von Mises and Friedrich von Hayek. According to Schumpeter, an entrepreneur is a person, willing and able to convert a new idea or invention into a successful innovation.
Entrepreneurship employs what Schumpeter called "the gale of creative destruction" to replace in whole or in part inferior innovations across markets and industries creating new products including new business models. In this way, creative destruction is responsible for the dynamism of industries and long-run economic growth; the supposition that entrepreneurship leads to economic growth is an interpretation of the residual in endogenous growth theory and as such is hotly debated in academic economics. An alternative description posited by Israel Kirzner suggests that the majority of innovations may be much more incremental improvements such as the replacement of paper with plastic in the making of drinking straws; the exploitation of entrepreneurial opportunities may include: Developing a business plan Hiring the human resources Acquiring financial and material resources Providing leadership Being responsible for both the venture's success or failure Risk aversionEconomist Joseph Schumpeter saw the role of the entrepreneur in the economy as "creative destruction" – launching innovations that destroy old industries while ushering in new industries and approaches.
For Schumpeter, the changes and "dynamic disequilibrium brought on by the innovating entrepreneur the norm of a healthy economy". While entrepreneurship is associated with new, for-profit start-ups, entrepreneurial behavior can be seen in small-, medium- and large-sized firms and established firms and in for-profit and not-for-profit organizations, including voluntary-sector groups, charitable organizations and government. Entrepreneurship may operate within an entrepreneurship ecosystem which includes: Government programs and services that promote entrepreneurship and support entrepreneurs and start-ups Non-governmental organizations such as small-business associations and organizations that offer advice and mentoring to entrepreneurs Small-business advocacy organizations that lobby governments for increased support for entrepreneurship programs and more small business-friendly laws and regulations Entrepreneurship resources and facilities Entrepreneurship education and training programs offered by schools and universities Financing In the 2000s, usage of the term "entrepreneurship" expanded to include how and why some individuals ide
Microfinance is a category of financial services targeted at individuals and small businesses who lack access to conventional banking and related services. Microfinance includes the provision of small loans to poor clients. Microfinance services are designed to be more affordable to poor and marginalized customers and to help them become self-sufficient. Microfinance had a limited definition - the provision of microloans to poor entrepreneurs and small businesses lacking access to credit; the two main mechanisms for the delivery of financial services to such clients were: relationship-based banking for individual entrepreneurs and small businesses. Over time, microfinance has emerged as a larger movement whose object is "a world in which as everyone the poor and marginalized people and households have access to a wide range of affordable, high quality financial products and services, including not just credit but savings, payment services, fund transfers."Proponents of microfinance claim that such access will help poor people out of poverty, including participants in the Microcredit Summit Campaign.
For many, microfinance is a way to promote economic development and growth through the support of micro-entrepreneurs and small businesses. Critics point to some of the ills of micro-credit that can create indebtedness. Due to diverse contexts in which microfinance operates, the broad range of microfinance services, it is neither possible nor wise to have a generalized view of impacts microfinance may create. Many studies have tried to assess its impacts. In developing economies and in rural areas, many activities that would be classified in the developed world as financial are not monetized: that is, money is not used to carry them out; this is the case when people need the services money can provide but do not have dispensable funds required for those services, forcing them to revert to other means of acquiring them. In their book The Poor and Their Money, Stuart Rutherford and Sukhwinder Arora cite several types of needs: Lifecycle Needs: such as weddings, childbirth, home building and old age.
Personal Emergencies: such as sickness, unemployment, harassment or death. Disasters: such as wildfires, floods and man-made events like war or bulldozing of dwellings. Investment Opportunities: expanding a business, buying land or equipment, improving housing, securing a job, etc. People find creative and collaborative ways to meet these needs through creating and exchanging different forms of non-cash value. Common substitutes for cash vary from country to country but include livestock, grains and precious metals; as Marguerite Robinson describes in The Micro finance Revolution, the 1980s demonstrated that "micro finance could provide large-scale outreach profitably," and in the 1990s, "micro finance began to develop as an industry". In the 2000s, the micro finance industry's objective is to satisfy the unmet demand on a much larger scale, to play a role in reducing poverty. While much progress has been made in developing a viable, commercial micro finance sector in the last few decades, several issues remain that need to be addressed before the industry will be able to satisfy massive worldwide demand.
The obstacles or challenges to building a sound commercial micro finance industry include: Inappropriate donor subsidies Poor regulation and supervision of deposit-taking micro finance institutions Few MFIs that meet the needs for savings, remittances or insurance Limited management capacity in MFIs Institutional inefficiencies Need for more dissemination and adoption of rural, agricultural micro finance methodologies Members lack of collateral to secure a loanMicrofinance is the proper tool to reduce income inequality, allowing citizens from lower socio-economical classes to participate in the economy. Moreover, its involvement has shown to lead to a downward trend in income inequality. Rutherford argues that the basic problem that poor people face as money managers is to gather a'usefully large' amount of money. Building a new home may involve saving and protecting diverse building materials for years until enough are available to proceed with construction. Children's schooling may be funded by buying chickens and raising them for sale as needed for expenses, bribes, etc.
Because all the value is accumulated before it is needed, this money management strategy is referred to as'saving up'.. People don't have enough money when they face a need, so they borrow. A poor family might borrow from relatives to buy land, from a moneylender to buy rice, or from a microfinance institution to buy a sewing machine. Since these loans must be repaid by saving after the cost is incurred, Rutherford calls this'saving down'. Rutherford's point is that microcredit is addressing only half the problem, arguably the less important half: poor people borrow to help them save and accumulate assets. Microcredit institutions should fund their loans through savings accounts that help poor people manage their myriad risks. Most needs are met through a mix of credit. A benchmark impact assessment of Grameen Bank and two other large microfinance institutions in Bangladesh found that for every $1 they were lending to clients to finance rural non-farm micro-enterprise, about $2.50 came from other so
Research comprises "creative and systematic work undertaken to increase the stock of knowledge, including knowledge of humans and society, the use of this stock of knowledge to devise new applications." It is used to establish or confirm facts, reaffirm the results of previous work, solve new or existing problems, support theorems, or develop new theories. A research project may be an expansion on past work in the field. Research projects can be used to develop further knowledge on a topic, or in the example of a school research project, they can be used to further a student's research prowess to prepare them for future jobs or reports. To test the validity of instruments, procedures, or experiments, research may replicate elements of prior projects or the project as a whole; the primary purposes of basic research are documentation, interpretation, or the research and development of methods and systems for the advancement of human knowledge. Approaches to research depend on epistemologies, which vary both within and between humanities and sciences.
There are several forms of research: scientific, artistic, social, marketing, practitioner research, technological, etc. The word research is derived from the Middle French "recherche", which means "to go about seeking", the term itself being derived from the Old French term "recerchier" a compound word from "re-" + "cerchier", or "sercher", meaning'search'; the earliest recorded use of the term was in 1577. Research has been defined in a number of different ways, while there are similarities, there does not appear to be a single, all-encompassing definition, embraced by all who engage in it. One definition of research is used by the OECD, "Any creative systematic activity undertaken in order to increase the stock of knowledge, including knowledge of man and society, the use of this knowledge to devise new applications."Another definition of research is given by John W. Creswell, who states that "research is a process of steps used to collect and analyze information to increase our understanding of a topic or issue".
It consists of three steps: pose a question, collect data to answer the question, present an answer to the question. The Merriam-Webster Online Dictionary defines research in more detail as "studious inquiry or examination; this material is of a primary source character. The purpose of the original research is to produce new knowledge, rather than to present the existing knowledge in a new form. Original research can take a number of forms, depending on the discipline. In experimental work, it involves direct or indirect observation of the researched subject, e.g. in the laboratory or in the field, documents the methodology and conclusions of an experiment or set of experiments, or offers a novel interpretation of previous results. In analytical work, there are some new mathematical results produced, or a new way of approaching an existing problem. In some subjects which do not carry out experimentation or analysis of this kind, the originality is in the particular way existing understanding is changed or re-interpreted based on the outcome of the work of the researcher.
The degree of originality of the research is among major criteria for articles to be published in academic journals and established by means of peer review. Graduate students are required to perform original research as part of a dissertation. Scientific research is a systematic way of harnessing curiosity; this research provides scientific information and theories for the explanation of the nature and the properties of the world. It makes practical applications possible. Scientific research is funded by public authorities, by charitable organizations and by private groups, including many companies. Scientific research can be subdivided into different classifications according to their academic and application disciplines. Scientific research is a used criterion for judging the standing of an academic institution, but some argue that such is an inaccurate assessment of the institution, because the quality of research does not tell about the quality of teaching. Research in the humanities involves different methods such as for example hermeneutics and semiotics.
Humanities scholars do not search for the ultimate correct answer to a question, but instead, explore the issues and details that surround it. Context is always important, context can be social, political, cultural, or ethnic. An example of research in the humanities is historical research, embodied in historical method. Historians use primary sources and other evidence to systematically investigate a topic, to write histories in the form of accounts of the past. Other studies aim to examine the occurrence of behaviours in societies and communities, without looking for reasons or motivations to explain these; these studies may be qualitative or quantitative, can use a variety of approaches, such as queer theory or feminist theory. Artistic research seen as'practice-based research', can take form when creative works are considered both the research and the object of research itself, it is the debatable body of thought which offers an alternative t