The purpose of this study is to analyse the performance of Groupe Pierre & Vacances Center Parcs's for five years. The analysis is applied on the sample of Groupe Pierre & Vacances Center Parcs's in France over the period between 2012 and 2016. This study is using a descriptive analysis such as...

Aim of this study is to analyse a company selected from logistics and transportation industry in Turkey, which is Turkish Airlines. The data obtained from annual report for five years from 2012 until 2016. This study looks at the factors that influence return on equity (roe) and the performance...

Liquidity risk management is an important aspect in the organisation. In order to avoid efficiency, it is important for an organisation to manage liquidity risk. Hence, this study attempted to investigate the influence of firm-specific factors and macro-economic factors affecting liquidity risk...

In this paper I develop a model that focuses attention on the financial side of business cycles. Investors in this model separate into bondholders and stockholders based on differences in risk aversion that creates a conflict of interest problem for the future management of the representative...

Employment relations are well understood. Business format franchising is a newer and rapidlyevolving business expansion formula, also providing employment. This article compares the fatesof employees and franchisees in their employer/franchisor insolvency.Whereas employees enjoyprotection,...

Risk is a vital concept to grasp when investing in a firm or project. It is also a key ingredient required to evaluate the cost of capital and perform a valuation. An organization’s capital structure, specifically the amount of leverage and debt financing employed, must be accounted for to...

We argue that the relationship between managerial pay-for-performance incentives and risk taking is procyclical. We study the relationship between incentives provided by stock-based compensation and firm risk for U.S. non-financial corporations over the two business cycles between 1992 and 2009....

This article has two objectives. First, it shows how debt financing distorts the inventory decision of a retailer who orders multiple items that differ in cost, revenue, or demand parameters. Taking advantage of limited liability, a debt-financed retailer will favor items with a low salvage...

Tail risk arises at multiple stages in the investment management process – from the high level asset allocation decision down to the individual portfolio manager's process for selecting securities. We believe that conventional practices followed in these investment decision processes, largely...

If the creditworthiness of a counterparty is a derivative of a commodity price, there is the potential to have right- or wrong-way exposures in respective commodity transaction. Identifying them is important, because otherwise credit costs might be inadequately calculated and wrong incentives...