franchising schemes with independent divisions. This is particularly interesting because it can be applied to several industries …

operators. Second, a problem of moral hazard is revealed, which is able to appear through the implementation of franchising …

condition its effective independence. Vulnerability may be real or accounting based. However, no matter its origin … paper analyses in the context of simple VAR model the interplay between capitalization, accounting rules and dividend … distribution. This analysis is preceded by a thorough discussion of the risk return profile of central banks net return on assets …

Proper monetary accounting rules are: (1) Central Banks should conform to the practice of the US Federal Reserve to …

promising ones. To do so, I applied the Business Cycle Accounting procedure developed by V V Chari, Ellen R McGrattan and …

of a simultaneous equations structural model connecting macro and microeconomic (market) variables with accounting …

Instead of relying on accounting principles and illustrative accounting examples, this paper examines the rationale for … under ESOs’ expense-postponing function, it is not under the employee-stimulating function. In practice, ESOs’ risk …

now that the model has become an auto-nomous, unreflected item in international accounting standards and law allowing … "creative" accounting. There is no economial relation between the future value of an underlying and it's current volatility …

paradox, risk aversion and other well-known fundamental problems. For a long time, this opinion was a barrier to proper …