Countries pass through different stages of structural transformation. In the early stage of development, economic activity is dominated by agriculture and mining. As a country develops, firms adopt new technology and move toward industrialization and faster economic growth. Eventually, the...

The need for non-financial reporting was strengthened by the challenges of a globalized environment based on the knowledge of business activities and on the promotion of the use of information. Accounting professionals have come to challenge the traditional business financial reporting model,...

This paper discusses how to obtain the Black-Scholes equation to evaluate options and how to obtain explicit solutions for Call and Put. The Black-Scholes equation, which is the basis for determining explicit solutions for Call and Put, is a rather sophisticated equation. It is a partial...

The Costa de Hermosillo is an agricultural region of the state of Sonora, Mexico, with a semi-desert climate which has been closed for water extraction for more than fifty years. This region played an important role as a barn in Mexico during the import substitution industrialization model,...

Globalization disrupted the seemingly solid construction emerged in the aftermath of WW II, called the international trade system. For over fifty years, the system grew constantly thanks to the increasing number of countries that joint it as well as to its ubiquitously-accepted rules. For better...

Although it is not still clear if the time passing is a result of world changing, or reversely, the world changing is a result of the time passing, I think it is very clear the changing in the external and internal world of the subject is real. The paper examines, from a logical point of view,...

From 2014-2018 Romania recorded the fastest growth rate among the CESE-6 countries (Bulgaria, Croatia, Czech Republic, Poland, Romania and Hungary). To achieve this performance, it embraced an economic growth model based on consumption rather than investment. The government's strategy was to cut...

The study reviews equity valuation, and proposes an alternative equity valuation model based on a random process modelling of earnings and equity growth. A Markov process is used to model earnings, standardized as earnings to book value, and book value based on rating category. This assumes a...

The study proposes and tests a risk-free rate model that simultaneously lets the risk-free rate migrate between rating categories as risk-free rate ranges, and follow a random walk within rating categories as risk-free rate ranges. Although the study arbitrarily assigned rating categories, and...

This research examines regional government performance in Indonesia's provinces after the implementation of fiscal decentralization in 2001 using a two-stage approach. First, extensive input and output data are utilized to measure government productivity and efficiency indices using a Malmquist...