A Central Counterparty (CCP) is an entity that interposes itself between transacting counterparties – a seller vis-à-vis the original buyer and a buyer vis-à-vis the original seller – to guarantee execution of the transaction. Thus, the original transacting parties substitute their...

In this paper we study the relation between firm-level disclosure quality and the availability of external finance to firms. Using data on Finnish firms that are mostly private and small, we first estimate ‘excess growth’ made possible by external finance. We then show that the excess growth...

Process of globalisation defines the new frontiers, leaving more importance to the territory. In the context of a rapidly changing international environment it is of no small importance to ask some question about the present situation in the bordering regions, their foreseeable evolution, both...

Polish Abstract: W artykule zaprezentowano teoretyczne i empiryczne zagadnienia dotyczące roli menedżera w procesie zarządzania zmianą w przedsiębiorstwie, wychodząc z założenia, że większość współczesnych przedsiębiorstw przechodzi permanentne przeob− rażenia związane z...