Trade credit is an important way of firm financing. Its habitualpractice and the excessive enlargement of the payment periods deteriorateprofitability of firms and even could affect the performance of the financialsystem. In spite of the relevance of this issue there are few empirical...

This paper makes some selective comparisons of the empirical evidence relating to financial discipline and soft budget constraints in the enterprise sector in China and the transition countries of Central and Eastern Europe and the former Soviet Union (CEEFSU). The paper finds that: (1) in both...

We take a retrospective look at Hungary's experiment with a particularly draconian bankruptcy law. For an eighteen-month period in 1992-93, the Hungarian bankruptcy code contained an unusual automatic trigger that required the managers of firms that held overdue debts of any size to any creditor...

Companies in a broad range of industries and economies rely heavily on external sources to finance their operations. But, external financing could be expensive and/or difficult to obtain due to imperfections in real capital markets. I focus on cash-constrained manufacturers that rely on external...

Magistro baigiamojo darbo tema yra aktuali, todėl, kad šiuolaikinėje ekonomikoje darbas atidėtų apmokėjimų principu tapo kasdieniu reiškiniu, tačiau įmonės savo pirkėjams taikydamos prekinius kreditus visuomet susiduria su rizika, kad debitorių įsipareigojimai nebus įvykdyti dėl...

This thesis studies a single item periodic review inventory problem with stochastic demand, random price and quotation cost. It differs from the traditional inventory model in that at the beginning of each period, a decision is made whether to pay the quotation cost to get the price information....

Nitrate pollution from agriculture is an important environmental problem, caused bythe excessive use of inorganic fertilizers. The internalization of this externality, via a tax onmineral nitrogen, could lead to a second best solution, reducing nitrate emissions. Severalauthors suggest that a...

We analyze the current state and future requirements of an agricultural income stabilization mechanism in a transition country – namely, the crop insurance system in Kazakhstan. Three objectives will be pursued: First, factors influencing the development of the crop insurance market will be...

A mathematical programming model is developed and associated to a spatial pattern index (Ripley L function) to analyse the optimal reserve design and implementation for the Little Bustard conservation in Plaine de Niort. The model structure corresponds to three spatial levels, fields, farm and...