The Financial Crisis in Greek Banking Industry Dissertation

The Financial Crisis in Greek Banking Industry - Dissertation Example However, it is an important part of the dissertation because it makes a significant contribution in backing the researcher’s point of view while providing current knowledge including substantive findings in terms of theoretical and methodological contribution. It reviews the books, journal articles, and magazines to give new interpretations to old sources. In the article written by Li and Xu (2002), it is stated that higher- risk assets give higher returns in comparison to low-risk assets like treasury bills (see table1 below). It forms a basis for the decision of asset allocation and making an estimation of interest rates in financial markets (Haitao Li and Yuewu Xu, 2002). During the process of bidding demand for firm’s products and its value influence the financial premium of the firm. It is so because there is a direct correlation between net expected value and performance of the firm as it yields higher returns. This implies that the higher the value of the firm th e higher premiums. Barberis, et al, (2001) held the view that higher volatility is recorded in the stock prices of a company when performance if its assets are not up to the standard. The entire banking industry came under pressure due to credit turmoil and subsequent deterioration of global market which in turn prompted the intervention of the central banks particularly the IMF and the World Bank. This sector was adversely affected by the inherent weakness of the Greek economy that is a result of rising debt and deficits. However, improvements have been noticed in the premiums paid because of the strong legal framework and improvements to the operational model. A similar report finds that, as a way of increasing the economies of scale, merger and acquisitions were imminent. The risk in the assets can be reduced by diversification of the assets. It also brings profitability and promotes growth besides improving the survival rate in similar future financial crises. According to Nenov a (2006) desire of having effective control over the firm and then pressurize the shareholders to sell the firm at a lower price is the reason why banks overvalue premium during the process of mergers and acquisitions. In addition to this, the value of the premium is also influenced by enforceability of ownership rights and confidence in the target banks ( LaPorta et al., 1998; Djankov et al., 2008; Nenova,2006; Bris and Cabolis,2008). As provided, the weaker the shareholder protection creates get-out for managers, shareholders to seize smaller, and minority shareholders with motives of gaining higher private benefits (Dyck and Zingales, 2004). A research study conducted by Hunter and Wall (1995) stated that acquirers are interested to pay more premiums for the banks that adopt strategies such as diversification for reducing combined firm’s overall risk and for the banks that would increase the value of the government safety net to the combined firm. With the help of regressi on analysis, it can be understood that a target with high variance of own profitability and high covariance with the acquirer’s profitability will yield less premium. Theory of diversification will also make the similar implication. MANNER OF PREMIUMS COMPUTATIONS: a) An Informal Model of Bank Takeover Pricing During the process of valuation of a bank for merger and acquisition, several factors are considered by the bidder.

Intellectual Property & Technology Transfer Case Study

Intellectual Property & Technology Transfer - Case Study Example This was in respect to 'chemical products for sanitary and medical use, medicines, pharmaceutical drugs and preparations' 'cosmetics perfumes, soaps and shampoos were applied in respect of Class 3. This application got on air in the Trade Marks Journal right next year that is January 2007. The well reputed company that opposed the application was Lloyd's Preparations Ltd. ('Lloyd's). The point behind the opposition was that it already had a registered trade mark for 'ECZIDERM', registered in Class 5 and not only this but it was also registered for 'all use in the treatment of eczema pharmaceutical preparations and substances'. This registration had the number 1075423 and the filing date was12 June 1989 that is far older than the new application and they had made a name in the sales. In 2003 Lloyd's had also registered a corresponding trade mark in France for 'ECZIDERM'. The first and most important point that arises is that a well reputed company which has been using a brand for years has the right to go against any other company who is trying to use their name. It was directly effecting the reputation of the brand and the company. Apart from law it is a thing of common sense that no company would ever at any cost bear the name of their company being used by others in any way. The opposition was made on provision of the Trade Marks Act 1994. ... It was launched long a go. Many products that had the mark ECZIDERM were regularly being exhibited at British Association of Dermatologists annual meetings. Not only this but also they were advertised in medical publications including, 'Chemist and Druggist' 'British Journal of Dermatology' and 'General Practitioner'. These were the most popular and widely read journals. If the trade mark would have been re-registered it would go against the section 3(1)(a) law. Lloyd's had been spending approximately 250,000 on publicity and sponsorship of products over the last three years. This was not only spent on products that had the trade mark ECZIDERM but also on the use of sales representatives. Lloyd's ECZIDERM products have been upheld straight away to doctors with the help of sales representatives and also by mailing directly. So the brand or the trade mark was not to be used again in the same contexts. The second objection raised by opponents was that of section 3(6) - 'the application was made in bad faith'. The main reason for the rhyming trade marks was to get rapid fame of the product by using the name of other company. The evidence is that the sales of Lloyd's were made in all chief rural and urban cities all around UK. Lloyd's had already used registration of ECZIDERM as a trade mark in the UK. So this name had already earned considerable support and reputation, if the other rhyming product was launched, it would have got false fame by betrayal of people. It had earned so much fame that the mark ECZIDERM had also been entitled to protection under the Paris Convention for the quality of being well known. Hffner GmbH had probably applied for the trade mark EXIMED intentionally to take advantage of the well known repute of the previous mark