This paper test the hypothesis that distance of firms from the main financial centre affects underpricing positively. Higher is the distance higher is the uncertainty about the true value of the listing firm and lower the issue price. Econometric results show that, in the Italian case, there is...

This paper tests the hypothesis that the distance of a firm from the main financial centre affects underpricing positively. The higher is the distance the higher are the information imperfections among players involved in the Initial Public Offering and the higher is the uncertainty about the...

The objective of this paper is to examine and analyze the differences between Venture Capital development in Macedonia and several Central and Eastern Europe countries, to determine the reasons, and hence extract certain conclusions that will serve as a guideline in Macedonia’s venture capital...

The paper presents the approach for the verification of the lemma used for the model for reputation risk for subsidiaries of non-public group with reciprocal shareholding as proposed by the author in priory works. For all entities with the absolute value of the reputation risk greater than the...

This systematic review examines the importance, role, and challenges of venture capital (VC) and private equity (PE) in driving entrepreneurial activities in developing nations. The review synthesizes existing literature and identifies key findings related to the impact of VC and PE on...

ABSTRACT This article presents a new model of collateralization. We study the economic impact of collateralization on the plumbing of the financial system. The model gives an integrated view of different collateral arrangements. We show that the effect of collateral on asset prices is...

The objective of the study was to determine if a policy of preference for the domestic public debt market influences the development of the respective national financial system. This research finds that such influence does exist. Using panel data techniques, the causal relationship between the...

There is ongoing debate in empirical research regarding the impact of exchange rate volatility on exports and economic growth. While some studies argue that exchange rate volatility positively influences these economic variables, others suggest negative or negligible effects. This study seeks to...

Using firm-level data from the World Bank Enterprise Surveys, covering 159 countries from 2006 to 2023, we examine whether past informality affects the credit constraints of registered firms. Estimations, based on the entropy balancing method, indicate that registered firms that began operations...

This study examines policy tools in the fight against terrorism when existing levels of terrorism matter in 53 African countries for the period 1998-2012. The empirical evidence is based on contemporary, non-contemporary and Instrumental Variable Quantile regressions (QR) which enable the...