This paper uses the BEEPS firm-level data to study the process of convergence of transition countries with developed market economies. The primary focus of the study is on competition and market structure, finance and the structure of lending to firms, and how firms respond to the economic...

This study investigates whether capital structure theory can explain debt ratios in an historical environment which was characterized by poor investor protection, booming stock markets and strong banks, and in which corporate income tax did not affect capital structure. Our results, based on a...

The economic transformations taking place in Poland in recent years have been accompanied by changes in companies’ structure. The role of small companies, employing up to 50 persons, has been constantly growing. These companies, particularly in the first half of the 1990s, helped to reduce...

After ten years of Asian crisis, it is still unclear what the roots of crises are really. This paper seeks to the explanation of the evolution of the capitalism system in Indonesia for gaining an important indication of the root of crisis as well as the future risk of crises of the Indonesia’s...

This paper reveals why foreign ownership participation matters in the sensitivity relationship between investment and the internal liquidity of listed companies in Indonesia. This paper finds that foreign-owned enterprises are less financially constrained than domestic-owned ones, especially in...

The paper first investigates the causes of the recent financial and liquidity crisis in the US and all over the world as a preliminary phase of the imminent recession. It then questions Paulson-Bernanke’s plan as a solution to the crisis and ponders over the differences between EU plan and the...

The paper deals with the application of the basic indicator of evaluating profitability in the context with alternative costs. The aim of this paper is the evaluation of the efficiency of handling financial means of stockholders with companies traded on the stock exchange by means of the basic...

An adequate rate of return on capital yielded by the regulated firms is a central issue related to the new cost-based approach adopted by the Brazilian Telecommunication Regulatory Agency (Anatel). In this context, careful attention must be given to the Weighted Average Cost of Capital (WACC)...

This paper presents evidence on the use of derivative contracts in the risk management process of Greek non-financial firms and its potential impact on firm value. The sample of the research consists of 81 Greek non-financial firms with exposure to financial risks that are listed in the Athens...