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Corporate Finance in Europe from 1986 to 1996

DELBREIL, Michel; ESTEBAN, Ana; FRIDERICHS, Hans; … - EconWPA - 2000

After publishing its first report in September 1997, the Own Funds Working Group, in agreement with the European Committee of Central Balance Sheet Offices, decided to continue its work in order to gain a better understanding of the differences in financing structures between countries. To this...

Persistent link: https://www.econbiz.de/10005413207

Part-Time Entrepreneurship and Wealth Effects: New Evidence from the Panel Study of Entrepreneurial Dynamics

Petrova, Kameliia - EconWPA - 2005

Why do people become part-time entrepreneurs? Are they credit constrained? Previous studies on entrepreneurship do not deal with part- timers. In contrast, a recent survey on the establishment of new businesses reports that 80 percent of nascent entrepreneurs also hold regular wage jobs. I...

Persistent link: https://www.econbiz.de/10005413242

The Green Entrepreneur: Visionary, Maverick or Opportunist?

Taylor, David W.; Walley, Liz E. E. - EconWPA - 2003

Given the importance of green entrepreneurs in the transition towards a truly sustainable society, this paper proposes frameworks for investigating the motives of entrepreneurs who set up green businesses. Different perceptions of 'green' are explored and although the paper focuses particularly...

Persistent link: https://www.econbiz.de/10005561853

Money in Market Clearing

Gani, Mohammad - EconWPA - 2004

unemployment, undue instability, and excess debt. …

Persistent link: https://www.econbiz.de/10005076719

Argentina: Trying to Make Sense of the Financial Tango

Buchs, Thierry - EconWPA - 2005

opening, exchange rate policies, alternatives to debt financing and the role of the international financial institutions. The … 1991 and 2001, together with the lack of nationally coherent fiscal and development policies, led to a classic debt …

Persistent link: https://www.econbiz.de/10005076729

The Non-Neutrality of Debt in Investment Timing: A New NPV Rule

Sabarwal, Tarun - EconWPA - 2004

Limited liability debt financing of irreversible investments can affect investment timing through an entrepreneur …'s option value, even after compensating a lender for expected default losses. This non-neutrality of debt arises from an …'s use of debt. Intuitively, limited liability lowers downside risk for the entrepreneur by truncating the lower tail of …

Persistent link: https://www.econbiz.de/10005076954

Causes and consequences of the 1982 Third World Debt Crisis

Stambuli, P. Kalonga - EconWPA - 2002

This paper investigates underlying causes of the debt crisis that only surfaced with Mexico’s unilateral moratorium on … her foreign obligations in 1982. The paper investigates the evolutionary trend of LDC debt and the consequences for … understanding of the mechanics of debt accumulation as groundwork for further study of macroeconomics of debt and debt relief. The …

Persistent link: https://www.econbiz.de/10005125557

Interest, debt and capital accumulation - a Kaleckian approach

Hein, Eckhard - EconWPA - 2005

In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model … the equilibrium debt-capital-ratio are also analysed. It is shown, that the effects of interest variations on the … interest rate and the debt- capital-ratio. If the conditions for short-run ‘normal’ effects of interest rate variations are …

Persistent link: https://www.econbiz.de/10005126210

New Trade Theory Takes Over Monetary Theory

Gani, M - EconWPA - 2004

Prevailing trade theory is a neglected stepchild of economics. Micro rejects the sole reason for trade’s occurrence. It declares zero profit in equilibrium. Monetary theory and macroeconomics dismiss concerns of trade financing. They assert that money has nothing to do with traded output, but...

Persistent link: https://www.econbiz.de/10005408069

Interest rate, debt, distribution and capital accumulation in a post-Kaleckian model

Hein, Eckhard - EconWPA - 2004

. Lavoie (1995) has proposed a Kaleckian ‘Minsky-Steindl-model’ of distribution and growth, incorporating the effects debt and … debt services have on short and long run capital accumulation. This attempt, however, can be extended because neither has … effects of debt and debt services are explicitly introduced, the effects of interest rate variations on the short and the long …

Persistent link: https://www.econbiz.de/10005412605