This paper provides an optimal contracting framework to determine the equilibrium structure of receivables securitization in the presence of moral hazard. An incentive compatible contract is designed where the seller monitors at an efficient level and retains an equity interest in a portion of...

Рассматривается понятие факторинга, как одного из альтернативных источников привлечения инвестиционных ресурсов в производственно-хозяйственную...

Some retailers and other firms expecting to improve their operating performance have established Credit Card Banks (CCBs) as a revenue management tool to handle their proprietary credit card receivables, as well as those from Visa and MasterCard. The expected improvement in performance has to...

The basic financial purpose of an enterprise is maximization of its value. Trade credit management should also contribute to realization of this fundamental aim. Many of the current asset management models that are found in financial management literature assume book profit maximization as the...