Small-medium enterprises (SMEs) encounter financial constraints when they try to obtain credit from banks. These constraints are particularly severe for innovative SMEs. Thus, developing models for innovative SMEs that provide reliable estimates of their probabilities of default (PD) is...

Nel presente lavoro viene descritta la disciplina spagnola in materia di licenziamento, come modificata a seguito delle riforme succedutesi tra il 2010 e il 2012, nel pieno della crisi economica. L’analisi, condotta dal punto di vista giuridico, si concentrerà sul passaggio da un sistema...

The Importance of the Principle of Justification in Firing: The Paradox of "Free Paid Dismissal" in Spanish Labour Law in Times of Crisis This paper describes Spanish legislation on dismissal, as amended after the reforms passed between 2010 and 2012, at the height of the economic crisis. The...

This paper compares two types of volatility models for returns, ARCH-type and stochastic volatility (SV) models, both from a theoretical and an empirical point of view. In particular a GARCH(1,1) model, an EGARCH(1,1) model and a log-normal AR(1) stochastic volatility model are considered. The...