Unexpectedly severe winter weather, which is arguably exogenous to firm and bank fundamentals, represents a significant cash flow shock for bank-borrowing firms. Firms respond to these shocks by drawing on and increasing the size of their credit lines. Banks charge borrowers for this liquidity...

We use quasi-random variation in federal loan examiner assignments -- affecting examiner leniency and supervisory ratings -- to test how bank supervision affects corporate lending. Following a supervisory rating downgrade, lead banks lower their internal risk assessments, decrease loan...

The Bulgarian Prosecutor's Office shall ensure that legality is observed by bringing charges against criminal suspects and supporting the charges in indictable cases; overseeing the enforcement of penalties and other measures of compulsion; taking action for the rescision of all unlawful acts...

We re-examine the relation between taxes and corporate leverage, using variation in state corporate income tax rates. In contrast with prior research, we document that corporate leverage increases following tax cuts for both privately held and publicly listed firms. We use an estimated dynamic...

In the last few years, significant progress has been made by the Republic of Bulgaria in relation to combating crime and enforcing the rule of law. As a result of the excellent interaction between the judiciary, presented by the Prosecutor's Office of the Republic of Bulgaria on the one hand,...

The article aims to present the activities of Bulgaria’s Public Prosecution Office in terms of the initiation, movement and completion of inquiry files and cases in the first half of 2020, for key indicators describing the performance of its statutory functions. The productivity of their...

The critical review of the evolution of the balanced scorecard model and the expansion of its application provide a solution to a key two-dimensional problem of managers from all sectors of social development related to the relationship between strategies and intangible assets. On the one hand,...

This paper is the part of an extensive study which analyzes and examines the processes on the Bulgarian market that unfold in the emergency situation resulting from the COVID-19 pandemics. The focus is on the state of the labour market before the pandemic crisis and the subsequent changes in the...