Ziel dieser Arbeit ist die Untersuchung der Bedeutung der Spezifikation für Ratingmodelle zur Prognose von Kreditausfallwahrscheinlichkeiten. Ausgehend von dem in der Bankenpraxis etablierten Logit-Modell werden verschiedene Modellerweiterungen diskutiert und hinsichtlich ihrer Eigenschaften...

Uncertainty is a norm in business decisions. In this research, we focus on the inventory decisions for companies with uncertain customer demands. We first investigate forward buying strategies for single stage inventory decisions. The situation is common in commodity industry where prices often...

This paper makes some selective comparisons of the empirical evidence relating to financial discipline and soft budget constraints in the enterprise sector in China and the transition countries of Central and Eastern Europe and the former Soviet Union (CEEFSU). The paper finds that: (1) in both...

We take a retrospective look at Hungary's experiment with a particularly draconian bankruptcy law. For an eighteen-month period in 1992-93, the Hungarian bankruptcy code contained an unusual automatic trigger that required the managers of firms that held overdue debts of any size to any creditor...

Companies in a broad range of industries and economies rely heavily on external sources to finance their operations. But, external financing could be expensive and/or difficult to obtain due to imperfections in real capital markets. I focus on cash-constrained manufacturers that rely on external...

Magistro baigiamojo darbo tema yra aktuali, todėl, kad šiuolaikinėje ekonomikoje darbas atidėtų apmokėjimų principu tapo kasdieniu reiškiniu, tačiau įmonės savo pirkėjams taikydamos prekinius kreditus visuomet susiduria su rizika, kad debitorių įsipareigojimai nebus įvykdyti dėl...

Trade credit is an important way of firm financing. Its habitualpractice and the excessive enlargement of the payment periods deteriorateprofitability of firms and even could affect the performance of the financialsystem. In spite of the relevance of this issue there are few empirical...