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framework for corporate insolvency resolution are constantly changing to enhance the efficiency of such mechanisms. This pursuit … Spain. Although, the legal system is modified, the insolvency process itself is a drag, for the achievement of the long … efficiency and competence of a key figure in the process: the insolvency administrator. …
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E-commerce and FinTech are currently booming in China. The growing consumer market is accompanied by internet finance, by which consumers can easily borrow money from financial institutions online. As a result, the growing risks of financial institutions are of concern to the government and...
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heterogeneous agents (banks). We show that market segmentation improves efficiency and solves the problem of multiplicity of …
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We analyze the expected value of information about an agent's type in the presence of moral hazard and adverse selection. Information about the agent's type enables the principal to sort/screen agents of different types. The value of the information decreases in the variability of output and the...
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