Showing 1 - 10 of 541
This paper discusses the long-term financial lease contracts with lease evaluation. Here a comparatively simple and straightforward solution of neutralizing the risk of lease financing is explained. The lease is a contract between the owner and the user of assets for a certain period during...
Persistent link: https://www.econbiz.de/10011107538
A new model for predicting the future expected cash flows from a loan is developed. It is based on a detailed analysis of the events of fulfilling, delinquency and default of each individual payment on the loan. The proposed model has significantly less uncertainty compared with the Markov chain...
Persistent link: https://www.econbiz.de/10011111290
The problem of decomposing a cash flow has been treated in recent years by Gronchi (1986, 1987), Peccati (1987, 1991, 1992), Stewart (1991), Pressacco and Stucchi (1997). After showing that the Economic Value Added introduced by Stewart bears a strong resemblance to (and in some conditions...
Persistent link: https://www.econbiz.de/10005623516
This paper presents results from an in-depth analysis of the foreign exchange rate exposure of a large nonfinancial firm based on proprietary internal data including cash flows, derivatives and foreign currency debt, as well as external capital market data. While the operations of the...
Persistent link: https://www.econbiz.de/10005789336
Based on the Euler equation approach, the paper analyzes the impacts of availability of internal funds on fixed investment spending in the presence of multiple investment options. It is argued that after financial liberalization real sector firms face a portfolio allocation problem between fixed...
Persistent link: https://www.econbiz.de/10005789670
The main purpose of the paper is to analyze different channels for innovations. We consider the influence of various incentives for innovation in Russian companies taking into account the organization of industries — vertical or horizontal orientation, peculiarities of corporate demography,...
Persistent link: https://www.econbiz.de/10014153492
“capital accumulation channel” and the “total factor productivity (TFP) growth channel”. This paper carries out the first … undervaluation of the currency boost the overall productivity level in the economy? If so, does this “undervaluation …-induced” productivity improvement significantly enhance growth? And finally, what is the magnitude of the TFP growth channel compared to the …
Persistent link: https://www.econbiz.de/10011260337
domestic technology diffusion. I identify four de facto research centers in China and investigate whether the effect of R …’ productivity gains from R&D spillovers from the research cluster decline with (i) increasing geographic distance away from the …
Persistent link: https://www.econbiz.de/10011260792
This paper analyzes the impact of Research and Development (R&D) on the productivity of China's high technology … differences across three major regions in China, we use a novel semiparametric approach that allows us to model heterogeneities …
Persistent link: https://www.econbiz.de/10009216349
productivity of the different factors at the regional level. In this way, we present a new perspective for recent causes of China …The literature on regional disparities in China is both broad and deep. Nonetheless much of its focus has been on the … multiregional input-output tables and disaggregated employment data, we decompose change in labor productivity growth for seven …
Persistent link: https://www.econbiz.de/10005789311