This article examines trade credit decision in Western Europe using a comprehensive sample of 182,296 SMEs for the period 2003-2013. We develop a theoretical framework based on information asymmetry, financial distress and the role of country informal institutions. The results show that country...

We estimate the effects of obesity on wages accounting for the selection of workers into jobs requiring different levels of personal interactions in the work-place. Using data from the National Longitudinal Survey of Youth 1979 combined with detailed information about jobs from O*Net, we confirm...

This research paper explores the contributing factors behind the success of 146 ICOs from June 2017 to November 2017 by analysing the role of ICO characteristics, team quality and market sentiment behind each ICO on the short-term return on investment, first-day return and the total amount...

This chapter surveys the theoretical literature on statistical discrimination and affirmative action. This literature suggests different explanations for the existence and persistence of group inequality. This survey highlights such differences and describes in these contexts the effects of...

Research on relationship lending has focused attention on economic factors. No previous work, however, has examined the role of trust in lender-borrower relationships. Trust may be expected to reduce transaction costs and agency costs, and thereby influence the availability of credit (i.e....

Existing research approaches the return on investment expected by entrepreneurs from the perspective of the investor. This paper argues that this perspective is inadequate when applied to entrepreneurs of small and medium sized enterprises (SMEs). In fact, return on equity cannot be ascertained...

This paper argues that the existing finance literature is inadequate with respect to its coverage of capital structure of small and medium sized enterprises (SMEs). In particular it is argued that the cost of equity (being both conceptually ill defined and empirically non quantifiable) is not...

This handbook provides a complete guide to the New European Bauhaus self-assessment method, designed to promote sustainability, beauty, and inclusiveness in the built environment of Europe and beyond. The handbook comes together with an online tool allowing to evaluate the performance of...