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Symmetrical Information and Credit Rationing: Graphical Demonstrations

Wang, Hung-Jen - 2000

As this article shows, the pro-debtor U.S. Bankruptcy Code alone can cause credit rationing, even without asymmetrical information in the market, because the code entails substantial costs to lenders if borrowers file for bankruptcy. In the absence of bankruptcy cost, lenders are always...

Persistent link: https://www.econbiz.de/10015226986

Product differentiation and systematic risk: theory and empirical evidence

Bazdresch, Santiago - 2011

Firms producing differentiated products have high margins and therefore low risk. As a result firms invest more into developing differentiated products when they perceive risk is high. Higher risk also implies higher product skewness towards more differentiated products and therefore higher...

Persistent link: https://www.econbiz.de/10015229828

Financial constraints and relationship lending in the growth of italian SMEs

Cinquegrana, Giuseppe; Donati, Cristiana; Sarno, Domenico - 2012

Our study confirms that the financial constraints to SME’s growth tend to appear as an excess of sensibility of the investment expenditures on firm’s cash flow. Through the application of dynamic panel data techniques to an extended version of Eulero’s investment equation of a sample of...

Persistent link: https://www.econbiz.de/10015232803

The phased approach to time value of money in economic analysis of investment projects

Daskovskiy, Vadim; Kiselyov, Vladimir - 2010

Method discounting cash flow (DCF) is analyzed in the article. Article is demonstrating complete economic insolvency DCF. The fallacy of discounting method causes serious distortion of the results. It’s wide usage entails negative consequences not only for the concrete investor, but also for...

Persistent link: https://www.econbiz.de/10015233603

Assessment of investment projects on the basis of production efficiency

Daskovskiy, Vadim; Kiselyov, Vladimir - 2010

Methodologically, the recommended investment project (IP) selection system is distinguished from one in force by: new conception allowing for time factor; evaluating IP efficiency by eventual reproduction results, not by intermediate investment activity results (included is a generalized...

Persistent link: https://www.econbiz.de/10015233604

Static and Dynamic Indicators in the Analysis of Internal Sources of Companies’ Investments Financing

Bukvić, Rajko; Pavlović, Radica; Gajić, Aleksandar - 2017

The Republic of Serbia is characterized by an unsatisfactory macroeconomic environment. Under the conditions of an evident shortage of liquid assets, the financial capital has moved from real to the financial sector, which led companies to over-indebtedness and shutdown of their own capacities....

Persistent link: https://www.econbiz.de/10015256464

Macroeconomic Instability and Its Impact on Gross Domestic Product: An Empirical Analysis of Pakistan

Ali, Amjad; Ur Rehman, Hafeez - 2015

Pakistan over the period of 1980 to 2012?” For reviewing macroeconomic instability a comprehensive macroeconomic instability … between macroeconomic instability and gross domestic product in Pakistan. The results of the study show that macroeconomic … instability has deep rooted and detrimental impact on gross domestic product of Pakistan. Hence, for achieving desired level of …

Persistent link: https://www.econbiz.de/10015258170

Intangibles and the Market Value of Biopharmaceutical Startups

Morales, Rosa; Radoniqi, Fatos - 2017

his paper investigates the relationship between various measures of intangible capital and the market valuation of young biopharmaceutical firms. We employ a non-linear model to measure the impact of R&D, patents, alliances, organizational capital, and mergers on the value of 349...

Persistent link: https://www.econbiz.de/10015261371

Analysis of external factors affecting the development of SMEs in Kosovo

Govori, Arbiana - 2013

Small and medium enterprises are becoming increasingly important for the creation and development of a modern, dynamic and knowledge-based economy. This is because of their capacity to promote entrepreneurship and entrepreneurial skills, and because of their ability to be flexible and adapt...

Persistent link: https://www.econbiz.de/10015237229

Environmental Dynamic, Business Strategy, and Financial Performance: An Empirical Study of Indonesian Property and Real Estate Industry

Wahyudi, Imam - 2012

Firm’s strategic orientation involves synchronizing environmental dynamics, corporate strategy and capital structure in order to achieve firm performance targets. The co-alignment model used successfully in the hospitality industry might be used in a wider context as a framework in explaining...

Persistent link: https://www.econbiz.de/10015244892