Purpose – For publicly traded firms, calculating the cost of capital is predicated typically on information from the financial markets. Small businesses do not have the necessary market-based information. As an alternative to traditional proxy approaches, this paper argues for a multi-criteria...

Nous étudions dans cet article l?influence de l?information dite « soft » sur la gestion intégrée du risque dans les banques. Les politiques régissant la gestion du risque, l?allocation du capital et la structure financière de la banque sont mises en ?uvre par la direction qui s?appuie...

Drawing from a unique data set comprising 2,893 banks and 152 countries over the period 1987 to 2000, we test whether the adoption of the Basel Accord by Latin American and Caribbean countries was responsible for the serious slowdowns in credit growth experienced by these countries. We find...

Purpose – Corporate risk management is one of the critical concerns of managers when they make investment allocation decisions among multiple projects. The purpose of this paper is to address corporate investment issues illustrated by target-beating in capital budgeting, and further discuss...

Purpose –Financial institutions have been subject to minimum capital requirements for considerable time while other companies do not face any such regulation. This paper investigates the capital requirements of companies and how it should relate to the assets of a company....

Two main approaches have been utilized to explain the relationship between entrepreneurs and their investors. The first is based on the separation of ownership and management i.e. the so-called principal-agent approach. The second emphasizes trust and cooperation in the relationship. This...

An optimal maintenance approach is a key support to industrial production in the contemporary process industry. This paper presents a Multiple-Criteria Decision Making (MCDM) methodology for selecting the optimal mix of maintenance approaches – Corrective Maintenance (CM), Time-Based...

Information technology is significantly changing the operating practices of an increasingnumber of companies globally. These developments have important implications for theaccounting profession and in particular accounting practices in the twenty-first century.This study examines the...

Purpose ? Financial information about costs and return on investments are of key importance to strategic decision-making but also in the context of process improvement or business engineering. In this paper we propose a value-oriented approach to business process modeling based on key concepts...

A principal provides budgets to agents (e.g., divisions of a firm or the principal’s children) whose expenditures provide her benefits, either materially or because of altruism. Only agents know their potential to generate benefits. We prove that if the more “productive” agents are also...