The choice of an appropriate discount rate is of major importance in cost benefit analysis both, at the private and at the social levels. The theories that rationalize the NPV criterion also identify the appropriate rate. However, the question remains as to what should be done when the...

In firms subject to tariff regulations, the authorities have developed “regulatory” accounting methods, to identify accepted costs and possible supernormal lrates of return. These methods are also useful in industries free from price regulation, because information about the economic rate of...

This paper analyses the determinants of the default ratio associated to banking debt in Spanish non financial firms over the period 1992-2003. It studies the factors influencing firms' entering and exit processes in and out from the default status. Additionally, it explores the factors...

Este trabajo compara modelos de inestabilidad financiera de naturaleza estadística y basados en la teoría de opciones, para el conjunto de sociedades anónimas abiertas chilenas. Los modelos estadísticos tienen un ajuste adecuado, aunque la peculiar historia de las quiebras en el período...