We investigate the interplay between creditor financing and the smoothness of earnings reported by European private firms and document how heterogeneous debt-contracting infrastructures across Europe moderate this relation. Most European private firms are owner-manager run enterprises with...

ABSTRACT: Any result can be generated randomly and any random result is useless. Traditional methods define uncertainty as a measure of the dispersion around the true value and are based on the hypothesis that any divergence from uniformity is the result of a deterministic event. The problem...

In this work, which represents the first part of a compendium of papers, author investigates and discusses a set of the most prominent electricity market stylized facts of price formation. Subsequently, the lack of theoretical underlying concerning the stylized set of facts is being dealt with a...