This paper analyses a model of the conflicts between equityholders and debtholders, regarding the optimal exercise moment for a firm to invest in a concession contract. This setting reflects the reality of, not only traditional concessions, but also image rights and audiovisual rights...

The accounts of a large retailer showed statistical evidence that shrinkage (stock loss) was being measured with serious error. As a result, profit itself in many departments was seriously in error. These errors tended to wash out over large areas of the business, but at local level, serious...