There has been a huge interest during the last decade on modelling hospital cost. Now that there is a fare amount of clarity achieved in estimating cost functions of hospitals, it is time to take stock of the existing methodologies. This article through a brief review of the past studies...

Two oil price shocks changed the pattern of cheap oil. The first was the Arab embargo on oil exports in 1973. Oil prices rose five fold. In 1978, the second was the fall of Shah Iran. Prices soared to $80-$100 a barrel in today‘s prices. In 1960, OPEC was established and since then it has been...

Estimating the manufacturing cost is a critical task with high importance to industrial firms. The cost estimating can drive bidding strategies, management of resources, production policies and other issues crucial to the economic success of the company. Essentially, cost estimation should be...

There is a growing literature body which examines the connections between financial status and economic growth. The aim of this paper is to examine the mechanism through which this positive connection is realized. The methodology is based on a pool data regression with dynamic of real GDP as...

Corporate governance could be defined as the institutions or mechanisms, which induce incentives in listed firms, in order to recognize benefits between all the stakeholders, and to restrict the discretion over that distribution, in presence of asymmetric information and incomplete contracts....

We show that project evaluation should be based on free cash flows at nominal prices. We present a case where the results from the constant price method are biased upwards and there is a risk to accept bad projects. It is a widespread practice to evaluate projects at constant prices. With an...

It is widely believed that disclosure quality improves investors’ welfare by reducing cost of capital in a competitive market. This paper examines this conventional wisdom by studying a production economy in which disclosure influences a firm’s investment decisions. I demonstrate three...

In relationship with the changes of tax regulations in surrounding countries and last but not least in connection with the reform of public finances again the question of the further development of the Czech tax system is getting forward. The primary reason for the existence of taxes is fiscal,...

This paper proposes a new discounted cash flows’ valuation setup, and derives a general expression for the tax shields’ discount rate. This setup applies to any debt policy and any cash flow pattern. It only requires the equality at any time between the assets side and the liabilities side...