credit markets. Due to the financial imperfections, high-productivity firms - which are run by entrepreneurs - must be … financed out of internal savings. If these savings are sufficiently large, the high-productivity sector outgrows the low …. The downsizing of the financially integrated sector forces a growing share of domestic savings to be invested in foreign …

In the course of ordinary business, commercial banks frequently encounter entrepreneurs seeking loans for the purpose … of financing new or continuing projects. These entrepreneurs are frequently unrealistic, their perception having been … relationship between banks and possible optimistic entrepreneurs. We examine this capital market from the stand-point of economic …

to the taxation of entrepreneurs in transition economies. …

performance incentives, on behavior of care providers filing applications for providing long-term care services to patients. We … degree of control reduces the number of applications and that introducing performance incentives reduces this even further …

closed form). By modeling the noise before the action in each period, we force the contract to provide sufficient incentives …

first show that simple fee-for-service reimbursement schemes do not provide proper incentives. If insurers use, however, fee …

same firm. However, family managers face weaker incentives than professional managers as seen in the lower sensitivity of …