Theoretical Framework Of Competition As Applied To Banking Industry

Concepts evolve through time and over time they assume different meanings. The concept of competition is no exception. This paper discusses the evolution of the concept of competition in general with a view to derive a theoretical framework for analyzing competition in banking industry. Starting from the classical notions of competition it proceeds to some of the latest approaches (Northcott (2004), Neuberger (1998), Toolsema (2003), Bolt and Tieman (2001)). The ordinary Structure-Conduct-Performance approach does not involve any analysis of market dynamics. Our approach introduces various aspects of industry dynamics and growth. It provides a methodology to arrive at the market form in banking industry through an analysis of all the aspects of basic conditions, structure, conduct and performance. It is argued that sustained growth and dynamics of the industry is not price led. Growth arises out of changing basic conditions and dynamics arises out of sharing the new market created by basic conditions. Hence the prime mover of competition is rivalry among firms to control market share and to internalize externalities rather than adjustments brought about by the price mechanism.Structure-Conduct-Performance;Competition theory;Banking competition;Basic Conditions;Entry facilitator

In-vitro Characterization of Optimized Multi-Unit Dosage Forms of Theophylline and its Solid State Characterisation

The objective of this study is to compare the drug release profile of an optimized multi-unit dose (MU) tablet consisting of rapid and slow release components, a formulated sustained released tablet and two brands of sustained release tablet formulations in the market with a designed model. The fast release component consisted of conventional granules while the slow release component consisted of wax granules of theophylline. The optimized MU tablets was formed by mixing the conventional and matrix granules in ratio 1:1 and compressed. Parameters evaluated were tablet tensile strength and dissolution studies. The optimized formulation was characterized with Differential Scanning Calorimetry and Fourier-Transform Infrared Spectroscopy. Results showed that the optimized MU tablets gave dissolution profile that was comparable with that of the designed model. The following were the dissolution parameters of the optimized MU formulation: the maximum release (m∞) = 91%, prompt release dose (mp) = 24%, time to attain maximum release (t∞) = 12h and first order release rate constant (k) = 0.20 h-1 which is comparable with the release data for the model. The other formulations deviated by giving mp and t∞ that were too low compared with those of the model. There were also no drug/excipient interactions. The indication is that the prompt release dose was determined not only by the amount of the rapid release components in the MU dose formulation but also by the amount of sustained release components, attributable to the deformation of granules of rapid components into that of slow release components during tablet formulation.Keywords: Multiunit dose tablet, theophylline, Differential Scanning Calorimetry (DSC), Fourier-Transform Infrared Spectroscopy (FTIR)J. Appl. Sci. Environ. Manage. Dec, 2011, Vol. 15 (4) 649 - 65

Market integration in wholesale rice markets in India

This paper tests for market integration in 55 wholesale rice markets in India using monthly data over the period January 1970 – December 1999. The technique of Gonzalez-Rivera and Helfand (2001) is used to identify common factors across various markets. It is discovered that market integration is far from complete in India and a major reason for this is the excessive interference in rice markets by government agencies. As a result it is hard for scarcity conditions in isolated markets to be picked up by markets with abundance in supply. A number of policy implications are also considered

COMPARATIVE STUDIES WITH DIFFERENT CYCLODEXTRIN DERIVATIVES IN IMPROVING THE SOLUBILITY AND DISSOLUTION OF SAQUINAVIR

Objective: The present study was aimed to perform comparative studies with different cyclodextrin (CD) derivatives and to study the effect of different methods of preparation in improving the solubility and dissolution of saquinavir (SQV).Methods: Phase solubility studies were performed with beta CD (βCD), hydroxypropyl βCD, randomly methylated βCD, and sulfobutyl ether βCD (SBE7βCD). Complexes were prepared using physical mixture, coevaporation, kneading, spray drying, and freeze-drying techniques. For complexes prepared by spray drying, process parameters were optimized based on percentage yield. The prepared complexes were characterized using Fourier-transform infrared spectroscopy, differential scanning calorimetry, X-ray diffraction studies, nuclear magnetic resonance spectroscopy, and scanning electron microscopy. In vitro drug release study was conducted in phosphate buffer pH 6.8 and mean dissolution time (MDT) was calculated for all freeze-dried complexes.Results: Phase solubility studies showed a linear relationship with an increase in CD concentration and phase diagrams were of AL type. Highest stability constant was observed with SQV-SBE7βCD (8281.28/M). All characterization studies proved complexation. Among four CD derivatives, SQV complexed with SBE7βCD by freeze-drying showed maximum drug release and low MDT of 20.67.Conclusion: Among different CDs, SBE7βCD proved as ideal CD derivative, and among different methods of preparations, freeze-drying method was found to be useful in improving the solubility and dissolution of SQV

Effects of Indocyanine green on cultured retinal ganglion cells in-vitro

<p>Abstract</p> <p>Background</p> <p>Indocyanine green (ICG) dye is commonly used to stain the inner limiting membrane during macular surgery. There are reports documenting the toxicity of ICG on retinal pigment epithelial cells, with conflicting results in retinal ganglion cells. In the present study, we evaluated the effect of ICG on retinal ganglion cells in vitro.</p> <p>Cultured rat retinal ganglion cells (RGC-5) were exposed to different concentrations of ICG (0.25, 0.5, 1.0, 1.25, & 5 mg/ml) and at various time intervals (1, 5, 15, 30, & 60 minutes). Changes in structural morphology were identified using phase contrast bright field microscopy. Cell viability was quantified using the neutral red assay and cell death was characterized using Annexin-V staining.</p> <p>Findings</p> <p>Significant morphologic changes were observed at the 15 and 60 min intervals for all concentrations, where a reduction in cell size and loss of normal spindle shape was noted. A dose dependent decrease in cell viability was observed with increasing concentration of ICG as well as increasing exposure intervals. Compared to control, 48-74% reduction in neutral red uptake at all concentrations for exposures 5 min or greater (p < 0.001). Even at 1 min exposure, a dose dependent decline was observed in cell viability, with a 28-48% decline for doses above 1.25 mg/ml (p = 0.007). Staining with Annexin-V, demonstrated a similar dose and time dependent increase in number of cells exhibiting early apoptosis. A greater than two-fold increase in Annexin-V expression for all doses at exposures greater than 1 min was noted.</p> <p>Conclusion</p> <p>ICG dye exhibits toxicity to retinal ganglion cells at clinically relevant doses following 1 min exposure.</p

Theoretical Framework Of Competition As Applied To Banking Industry

Concepts evolve through time and over time they assume different meanings. The concept of competition is no exception. This paper discusses the evolution of the concept of competition in general with a view to derive a theoretical framework for analyzing competition in banking industry. Starting from the classical notions of competition it proceeds to some of the latest approaches (Northcott (2004), Neuberger (1998), Toolsema (2003), Bolt and Tieman (2001)). The ordinary Structure-Conduct-Performance approach does not involve any analysis of market dynamics. Our approach introduces various aspects of industry dynamics and growth. It provides a methodology to arrive at the market form in banking industry through an analysis of all the aspects of basic conditions, structure, conduct and performance. It is argued that sustained growth and dynamics of the industry is not price led. Growth arises out of changing basic conditions and dynamics arises out of sharing the new market created by basic conditions. Hence the prime mover of competition is rivalry among firms to control market share and to internalize externalities rather than adjustments brought about by the price mechanism

Operationalizing and Measuring Competition: Determinants of Competition in Private Banking Industry in India

Using an appropriate theoretical framework and econometric methodology, the study has sought to measure and model competition in private banking industry in India in an attempt to analyse the process of market dynamics in the industry. The changing scenario of private banking consequent to deregulation provided the motivation behind the study. It used the concept of competition proposed by Stigler (1961) and measured it by Bodenhorn’s (1990) measure of mobility. The study provides a critique of the mechanism of inducing competition, which is implicit in the Narasimham Committee (1991). It then provides the theoretical background of an alternative mechanism based on Structure-Conduct-Performance paradigm, which incorporates basic conditions and strategic groups, apart from including entry, economies of scale, product differentiation and price cost margin, One basic contention of the study is that competition goes beyond “conduct” and encompasses all the four components of S-C-P paradigm: basic conditions, structure, conduct and performance. Accordingly, a three equation simultaneous equation model is used to ultimately estimate the equation of competition through Tobit technique. The result demonstrates that variables related to basic conditions, structure, and conduct and performance influence competition. The study has found evidence against the simplistic relationship between concentration and competition, which remained implicit in the literature. The study also developed a methodology to arrive at market form from an analysis of three aspects of a market and concludes that private banking industry in India is characterized by monopolistic competition

Theoretical Framework Of Competition As Applied To Banking Industry

Concepts evolve through time and over time they assume different meanings. The concept of competition is no exception. This paper discusses the evolution of the concept of competition in general with a view to derive a theoretical framework for analyzing competition in banking industry. Starting from the classical notions of competition it proceeds to some of the latest approaches (Northcott (2004), Neuberger (1998), Toolsema (2003), Bolt and Tieman (2001)). The ordinary Structure-Conduct-Performance approach does not involve any analysis of market dynamics. Our approach introduces various aspects of industry dynamics and growth. It provides a methodology to arrive at the market form in banking industry through an analysis of all the aspects of basic conditions, structure, conduct and performance. It is argued that sustained growth and dynamics of the industry is not price led. Growth arises out of changing basic conditions and dynamics arises out of sharing the new market created by basic conditions. Hence the prime mover of competition is rivalry among firms to control market share and to internalize externalities rather than adjustments brought about by the price mechanism

Operationalizing and Measuring Competition: Determinants of Competition in Private Banking Industry in India

Using an appropriate theoretical framework and econometric methodology, the study has sought to measure and model competition in private banking industry in India in an attempt to analyse the process of market dynamics in the industry. The changing scenario of private banking consequent to deregulation provided the motivation behind the study. It used the concept of competition proposed by Stigler (1961) and measured it by Bodenhorn’s (1990) measure of mobility. The study provides a critique of the mechanism of inducing competition, which is implicit in the Narasimham Committee (1991). It then provides the theoretical background of an alternative mechanism based on Structure-Conduct-Performance paradigm, which incorporates basic conditions and strategic groups, apart from including entry, economies of scale, product differentiation and price cost margin, One basic contention of the study is that competition goes beyond “conduct” and encompasses all the four components of S-C-P paradigm: basic conditions, structure, conduct and performance. Accordingly, a three equation simultaneous equation model is used to ultimately estimate the equation of competition through Tobit technique. The result demonstrates that variables related to basic conditions, structure, and conduct and performance influence competition. The study has found evidence against the simplistic relationship between concentration and competition, which remained implicit in the literature. The study also developed a methodology to arrive at market form from an analysis of three aspects of a market and concludes that private banking industry in India is characterized by monopolistic competition

Comparative efficacy of topical tetraVisc versus lidocaine gel in cataract surgery

<p>Abstract</p> <p>Background</p> <p>To compare the clinical efficacy of lidocaine 2% with tetracaine 0.5% for cataract surgery.</p> <p>Methods</p> <p>In a randomized, multi-surgeon, controlled clinical trial,122 consecutive cataract cases eligible for topical anesthesia, were randomly assigned to receive lidocaine 2% gel (1 ml) or tetracaine solution 0.5% (TetraVisc, 0.5 ml) before clear corneal phacoemulsification. Main outcome measure was visual analog scale (0 to 10), which was used to measure intra-operative pain. Secondary outcome measures included patients' discomfort due to tissue manipulation and surgeon graded patients' cooperation. Duration of surgery and intra-operative complications were also recorded.</p> <p>Results</p> <p>The mean age in TetraVisc (TV) group was 70.4 years and in the lidocaine gel group (LG) it was 70.6 years (p = 0.89). Patient reported mean intra-operative pain scores by visual analog scale were 0.70 ± 0.31 in TV group and 1.8 ± 0.4 in LG group (<it>P </it>< 0.001). Mean patient cooperation was also marginally better in the TV group (8.3 ± 0.3) compared to LG group (8.4 ± 0.6) (P = 0.25). 96% of patients in TV group showed intra-operative corneal clarity compared to 91% in LG group. TV group had less (1 out of 61 patients, 1.6%) intra-operative complications than LG group (3 out of 61 patients, 4.8%). No anesthesia related complications were noted in either group</p> <p>Conclusion</p> <p>Topical TetraVisc solution was superior to lidocaine 2% gel for pain control in patients undergoing clear corneal phacoemulsification. Lidocaine 2% gel is similar to TetraVisc in patient comfort and surgeon satisfaction.</p> <p>Trial Registration</p> <p><b>Clinical trials number</b>: ISRCTN78374774</p