Securitization of brand names: Basic concepts and its use in practice

Creating ‘value’ beyond the point of production: branding, financialization and market capitalization

“…The conservative position is that the value of securities must always be directly supported by the so-called 'fundamentals' 26 of the tangible assets held on the balance sheet. That view gives only limited encouragement to the process of brandization, including the securitization of brands (Taylor et al, 2009). The conservative position unravels when financial analysts and investors are persuaded, or convince themselves, that hitherto unregistered value resides in an intangible, such as a brand; and they rely upon the providers of non-accounting valuations in a way that parallels how fund managers rely upon securities' ratings agencies to inform and warrant their buy/ hold/ sell decisions (see Nicholai et al, 2009).…”

Financing Decisions and Performance of Italian SMEs in the Hotel Industry

“…Given the importance of intangible assets, like brands or licences, for hotel companies in the modern economy (see, among others, Kim and Kim (2005), or FitzPatrick et al 2013), we examine the effects of the variable intangible, obtained as the ratio between intangible assets to total assets. In recent years there has been a significant growth in the market for intangibles and in their use in securitization contracts, a phenomenon that is also documented in some recent literature (Taylor et al, 2009;Lindemann, 2010;Loumioti, 2012;Odasso et al, 2015).…”

“…Kim and Kim (2005) or FitzPatrick, Davey, Muller, and Davey (2013)-we examine the effects of the variable intangible, obtained as the ratio of intangible assets to total assets. In recent years, there has been a significant growth in the market for intangibles and in their use in securitization contracts, a phenomenon that is also documented in some recent literature (Lindemann, 2010;Loumioti, 2012;Odasso, Scellato, & Ughetto, 2015;Taylor, Becerra, Stuart, & Case, 2009). While official statistics are not available for the Italian market, in a very recent paper, S. J. H. Graham, Marco, and Myers (2018) show how the securitization of trademarks has experienced a 14-fold increase between 1985 and 2012 in the United States, based on data from the United States Patent and Trademark Office.…”

La titularización en Colombia: veinte años de regulación, 1993-2013

“…La correlación entre el comportamiento de la titularización hipotecaria y el crecimiento del PIB de edificaciones entre 2003 y 2013 se determinó teniendo en cuenta que esa titularización corresponde en su totalidad a subyacentes constituidos por créditos hipotecarios para compra de vivienda, y la presumible alta participación de la 28 Esta consideración se podría generalizar a las demás ofertas públicas de los últimos años, dada su tendencia decreciente en la última parte del periodo. 29 La Ley 546 de 1999, art.…”