This paper is studying the impact of taxes and social contributions on the economic growth. We have development a model of economic growth under the incidence of tax revenues, using econometrical analysis (the Pool Data Model). With this mathematical relation we have quantified the connections...

Institutional investors - including mutual funds, pension funds, hedge funds, and insurance companies - are a growing force in developed capital markets. We are in an environment in which investors, regulators and legislators have a dramatically reduced tolerance for risk. Rules and regulations...

The present paper discusses self-financing capacity seen as a particular indicator that reflects the financial potential determined by the profitable activity of a company. We present the ways in which it can be calculated as well as a case study

The accuracy of the work-in-process cost influences the end products’ cost and the profit. Between the work-in-process dimension and the finished goods and profit’s dimensions there is a reversed report. The over evaluation, of the work-in-process, leads to an unjustified diminishing of the...

Several recent papers argue that contracts provide reference points that affect ex post behavior. We test this hypothesis in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an initial contract has a highly significant and...

We present an international trade model with multiproduct firms. Firms are heterogeneously endowed with two types of capabilities that jointly determine the trade-off within firms between managing a large portfolio of products and producing at low marginal cost. The model can explain many of the...

This paper reports data from a laboratory experiment on two-period moral hazard problems. The findings corroborate the contract-theoretic insight that even though the periods are technologically unrelated, due to incentive considerations principals can benefit from offering long-term contracts...

We study a continuous-time game of strategic experimentation in which the players try to assess the failure rate of some new equipment or technology. Breakdowns occur at the jump times of a Poisson process whose unknown intensity is either high or low. In marked contrast to existing models, we...

We study endogenous group formation in tournaments employing experimental three-player contests. We find that players in endogenously formed alliances cope better with the moral hazard problem in groups than players who are forced into an alliance. Also, players who are committed to expending...