This paper investigates the determinants of the cash holdings of French firms over the period 1998- 2002, using the trade-off theory and the pecking order theory. We show that French firms increase their cash level when their activities are risky and the levels of their cash flow are high, and...

This paper presents the preliminary results of the study of the evolution of the SMEs in the information technology industry in France. This study was started during a research visit at the University Dauphine Paris, France, as a test model for a study involving SMEs from the information...

Many fiscal reforms in LDC’s have relied on the introduction of a presumptive tax. Aims were to simplify the tax system and to enhance the fiscal base by introducing previously informal enterprises. Theoretical qualities of positive incidence and of redistribution effects have been shown, but...

This paper conceptualizes intergenerational occupational mobility between the farm and non-farm sectors in five African countries, measures it using nationally representative household survey data, and analyzes its determinants through a comparative method based on pooled logit regressions. We...

What determines securitization levels, and should they be regulated? To address these questions we develop a model where originators can exert unobservable effort to increase expected asset quality, subsequently having private information regarding quality when selling ABS to rational investors....