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.

Article response Example | Topics and Well Written Essays - 750 words - 1

Response - Article Example The article seeks to clarify whether the effect of gender congruence between a competitor and the referent can occur independently from ambiguity avoidance. To clarify this, the authors conducted two experiments using Finnish, a non-gendered language. Like English, the Finnish language speakers produce fewer pronouns when the competitor and the referent have the same gender. Furthermore, this effect does not result from ambiguity avoidance. Competitors’ gender congruence and reduction of pronouns is higher in English language than in Finnish. In English, avoiding gender ambiguous pronouns is easy because semantic competition is normally affected by gender congruence. Discussion and comments of the article On reading this article, my knowledge was widened on what drives the effect of gender congruence in the English language. I knew that gender congruence effect in English language was driven by ambiguity avoidance. Initially, I assumed that the way speakers make reference to e xpressions was based on congruence effect alone. To enhance my understanding, I examined Van Compbel, Fukumura, Harley and Pickering (2011) study, which investigated how similarity in different entities affect a speaker’s choice and reference to some expression. ... Conversely, more pronouns are produced when the competitor and the referent are in different situations. The congruent effect appeared to be high in a situation in which the action described was relevant to the situational congruence. This implies that the effects that come as a result of congruence will depend on other representations of concepts known by the speaker. In the second experiment, this study revealed that whether a pronoun is ambiguous or not, the effect of competitor’s similarity is always present. At the end, the researchers concluded that the similarity effects are independent of ambiguity avoidance. The effect emanates from a speaker’s internal production challenges. Still, Van Compbel et al. (2011) results are similar toward the explanation of how ambiguity avoidance relate with the similarity or congruent effect. However, the studies use different approaches in investigating the effect of congruence on ambiguity avoidance. Both articles revealed that congruence effect is independent of ambiguity avoidance. In the main article by Fukuruma, Hyona and merete (2013), it is revealed that because congruence impact semantic competition, a speaker is aware of the pronoun ambiguity. This makes congruence effect independent. Conversely, Van Compbel et al. (2011) study confirms that it is the internally speaker production constraints that make congruence effect independent of ambiguity avoidance. Further, the similarity between these two articles drew my attention to another study by Arnold and Griffin (2007). The article investigated how one chooses between proper names and pronouns in a speech. The study was based on the traditional assumption that speakers strive to interpret

National Crisis Essay Example | Topics and Well Written Essays - 2750 words

National Crisis - Essay Example After having witnessed what has befallen their country, the United States began to take terrorism more seriously that it had ever before. Here was an enemy without face that directly challenged the might of the country responsible for turning the two world wars in the favor of a free world. The American Heritage Dictionary defines terrorism as â€Å"the unlawful use or threatened use of force or violence by a person or an organized group against people or property with the intention of intimidating or coercing societies or governments, often for ideological or political reasons†. Everybody now knew what the word truly meant especially what the term ‘force’ implied. The United States spared no time in hunting down the members of the al-Qaeda. It began in Afghanistan where the Taliban regime proudly sponsored the extremists. Why you ask? According to †¦, â€Å"one man’s terrorist may be another man’s freedom fighter†. The country then proceeded with dismantling the Saddam Hussein regime whose reports indicate to be a major violator of human rights. (Combs, 2007; Gunaratna, 2003). The Iraqi struggle has been the focal point of criticism of the Bush administration. The war waged not on the battlefields of Iraq and Afghanistan alone. It was also being fought in the mind and hearts of every American (Pillar, 2004; North O., Horn S, Horn S.A., 2004). After 6 years of the event, the U.S. is now split between those who considers it best that the country changes its mode from search-and-destroy to build-and-move on and those who deem it proper that the fight must carry on. They voice out their concerns in position papers, placards and editorials. In this paper, we will be analyzing two editorials whose content has much to say regarding what should be done now 5 years after the event. The purpose of this paper is not so much as to

Leadership Assignment Example | Topics and Well Written Essays - 250 words - 16

Leadership - Assignment Example Transformational leadership provides a functional ground upon which democratic leadership could be practiced. On the other hand, team building enhances collaboration between all parties bound to the democratic style of leadership. Finally, communication provides a platform for effective and efficient flow of information. A combination of the three activities is a strategic approach towards improving democratic leadership. The above discussed activities are highly likely to foster personal and professional growth and development of all persons involved in democratic leadership. My vision, skills, traits, and background can essentially redesign and revolutionize future leadership. Whilst, democratic leadership entails active participation of group members or employees in decision making, the final say rests with the leader. In this respect, my vision, skills, traits, and background will play a vital role in coaching, mentoring, and supervising the people I will lead in

How Can College Students Manage Their Money Essay

How Can College Students Manage Their Money - Essay Example A student should also be able to separate wants from needs and prioritize the most significant things. â€Å"Scholarships.com† explains that a good plan must be put into action after identifying the differences between wants and needs (Web). Understanding wants and needs helps in tracking a student’s spending and making sure that a student has sufficient resources in the event of an emergency and enhances making informed money management decisions. Moreover, a student may opt for a checking account that reduces fees on withdrawals or fund transfer and therefore shopping around to find a bank with convenient ATM’s near campus may hugely reduce some unnecessary costs. Just in line with the banking, a student should be able to keep an eye on the account balance before spending against it thus reducing cases where a student budgets for money that is perhaps not existing. Additionally, most students misuse credit cards hence attracting dangerous financial position.   Many students currently use credit cards in carrying out their transactions thus making it easier to amass a large amount of debt while in college. A student should go easy with the credit cards and understand that the easiest way of spending beyond one’s means is charging the credit card (â€Å"Scholarships.com† Web). Students should, therefore, use credit cards sparingly and avoid paying interest on even simple things such as on a bag of chips.

International Information and E-Business Strategies Assignment

International Information and E-Business Strategies - Assignment Example In fact, the e-supply chain involves the integration or mixing of e-billing systems, e-procurement systems, and other tools related to e-business. It allows for the enhancement of the company, distributors, and suppliers’ ability to manage their specifications, costs, quantity, and delivery time of products with more productivity automatically. E-SCM is a business process driven by software, in which there is collaboration between suppliers and retailers to give the end customer the best value, as well as to reduce costs (Aka?Li 2011, p. 55). Advanced software solutions and the internet enhance SCM partnering benefits where, through SCM collaboration, the suppliers are able to access retailer logistics and inventory data to meet inventory demands and respond to customized orders efficiently. By developing and using E-SCM, Coimbra Company will have the ability to co-ordinate warehousing and delivery, and improve their reliability and speed to their distributors and improving co mpetitive advantage (Weele 2010, p. 83). By deciding on the development and building of a platform for e-commerce, Coimbra Company has been building on its B2B and B2C platforms. During the period that Coimbra will build its B2C platform, it will apply e-commerce in its discount stores, specialty stores, and supermarkets. B2B e-supply chain management will also be built step by step and will become the keystone in the development of e-supply chain management development in the future. Coimbra will use some strategies in its implementation of e-supply chain management, for example, through ensuring it has good relationships with suppliers and customers with the latter being covered through CRM. Through... By developing and using E-SCM, Coimbra Company will have the ability to co-ordinate warehousing and delivery, and improve their reliability and speed to their distributors and improving competitive advantage (Weele 2010, p. 83). By deciding on the development and building of a platform for e-commerce, Coimbra Company has been building on its B2B and B2C platforms. During the period that Coimbra will build its B2C platform, it will apply e-commerce in its discount stores, specialty stores, and supermarkets. B2B e-supply chain management will also be built step by step and will become the keystone in the development of e-supply chain management development in the future. Coimbra will use some strategies in its implementation of e-supply chain management, for example, through ensuring it has good relationships with suppliers and customers with the latter being covered through CRM. Through the application of advanced technologies into their IT management, in which all members of their ch ain of supply can acquire the most recent raw data to enable them to co-ordinate plans, while also offering timely information that will better satisfy the demands from their partners.  By sharing information through their e-SCM with their trade partners, Coimbra and their partners can depend on one another and allows them to be more cooperative and collaborative. By integrating their supply chain and customer relationship management, Coimbra can offer gifts to customers and adjust advice and complaints in a timely fashion.

Foundations of Behavior Essay Example for Free

Foundations of Behavior Essay The field of psychology is expanding and credit is due to the numerous research studies being conducted. These research studies utilize different methods and each method has its own advantages and disadvantages. In this paper, five popular research methods will be compared based on their characteristics, objectives, strengths and weaknesses, research techniques, validity, and reliability. These research methods are case study, naturalistic observation, survey research, correlational research, and the experimental method. The case study is a focused study on a person or a specific group or a particular situation. Its research design involves five components, which are the study questions, the propositions, the units of analysis, the logic linking the data to the propositions, and the criteria for interpreting the findings (Tellis, 1997). Case studies have varying purposes. Some case studies are conducted to either confirm or challenge an existing theory, while others are carried out to describe either a special or an extreme case. A case study obtains information from documents (letters and newspapers), archival records (service records, survey data), interviews, direct observation (done when field visits are needed), participant-observation, and physical artifacts (instruments and tools). One of the most established techniques in case studies is called pattern-matching, in which the data is linked to propositions. The reliability of case studies is relatively high, especially when protocols are established. However, validity, especially construct validity, sometimes becomes questionable because the researcher might be subjective in his decisions and interpretations. This can be minimized by utilizing multiple sources, by setting up a chain of evidence, and by asking major informants to review a draft of the case study. The common criticism against case studies is that its results cannot be used to arrive at generalizations. But the greatest strength of case studies is that it can present an in-depth and holistic knowledge about a particular situation, group, or person. The naturalistic observation is unique from all other types of observation in that the researcher does not hinder, interrupt or influence the environment being studied. One of the vital things to consider in conducting naturalistic observation is to record as much detail as possible, which includes smell, sound, taste, time, place, number of participants, and feelings. This is why journals and a variety of writing materials are utilized. But the use of any recording device, such as video cameras, is not allowed because it violates the privacy of the observed individual. The reliability of this research method relies on the accuracy of observation. One technique of increasing reliability is to have several observers (Hesse, 2003). The greatest advantage of naturalistic observation is that it is considerably less expensive than other methods. But, the subjects being studied may act differently because of their awareness of the presence of the observer. This will significantly reduce the validity of the results (Piercy, 2007). The survey research is characterized by its major means of collecting information. The researcher usually goes out and asks questions. The questions can be oral or in written form. And the respondents can be chosen in many ways. Some respondents are chosen at random while others must possess certain characteristics. For example, if a survey research is about elementary teachers, then a high school teacher will not be asked to answer the questionnaire. The techniques involved in survey research lie in the analysis of the collected data. The reliability and validity of survey research are affected by several factors, such as the quality of the sets of questions or the questionnaire, the amount of data collected, and the accuracy in using measures of central tendencies and variability. Ideally, the questionnaire must be standardized. Greater reliability and validity is achieved if the sample represents a greater part of the total population. One advantage of the survey method is that it is relatively cheap and easy. Unfortunately, it is also subject to human error and biases (Government of Saskatchewan, 2002). The correlational research is essentially the discovery of a relationship between two variables. Unlike the previously described methods, correlational research is quantitative in nature. The different techniques used in a correlational research are regression and prediction, multiple regression, factor analysis, and systems analysis (Davis, 2004). The greatest advantage of using this method is that its results can be used to formulate predictions and generalizations. This is due to the nature of the research techniques. But the greatest danger of this method is to over-generalize. It must be remembered that an established relationship between two variables does not mean a cause-effect relationship between them. If a researcher wanted to establish a cause-effect relationship, then the research method to use is the experimental method. Similar to the correlational research, it is concerned with variables, which can be either independent or dependent variables. The independent variables are usually manipulated so that there will be two groups being studied, the experimental group and the control group. These two groups have the same characteristics except for that one variable which is being tested. The difference between these two groups can be found in the dependent variable. The reliability of this method is increased by conducting the same experiment for several times. Its validity lies in the accuracy of the procedures and the careful handling and analysis of results. The greatest advantage of the experimental method is that it can present an explanation to a certain phenomenon. But it takes great skill and experience on the part of the researcher in order to conduct a good research experiment. One problem of experimental method is the issue of ethics in conducting experiments using human subjects. Any of these research methods can be utilized to examine an issue or phenomenon in psychology. The basis of choice usually depends on the goal of the research. The task of the researcher is to maximize the advantages and minimize the disadvantages of the chosen method. Bibliography Davis, J. (2004). Correlational research methods. Retrieved October 12, 2007 at http://clem. mscd. edu/~davisj/prm2/correl1. html Government of Saskatchewan. (2002). Psychology 20: Social Psychology: A Curriculum Guide for the Secondary Level. Retrieved October 12, 2007 at http://www. sasked. gov. sk. ca/docs/social/psych20/support_materials/faqnaturalistic_observation. htm Hesse, B. E. (2003). Issues in naturalistic observation. Retrieved October 12, 2007 at http://psyc. csustan. edu/bhesse/psy2020/Lectures/Fall03/p2020U2L5. pdf Piercy, J. (2007). Research methods. Retrieved October 12, 2007 at http://courses. cvcc. vccs. edu/Psychology_Piercy/research_methods1. htm Tellis, W. (1997). Introduction to case study. The Qualitative Report. 3(2). Retrieved October 12, 2007 at http://www. nova. edu/ssss/QR/QR3-2/tellis1. html