This paper examines the causes of MNCs’ divestments in China. The MNCs’ profitability, market shares and productivities are negatively related to the possibility of divestment, while the MNCs’ debts are positively related to the possibility that foreign investments are divested. These results suggest that divestments are affected by MNCs’ performances, and their performances are endogenous shoc...

For adequate economic growth and development, a country’s savings may not equate her desired investments in goods services. When deficit exist, country will always bring out means to finance the deficit. Such financing most cases is through debts from both internal external sources. The objectives of study are determine effect public proxied as debts, interest rate on gross domestic product. ap...

OBJECTIVE To assess the economic impact of maternal death on rural Chinese households during the year after maternal death. METHODS A prospective cohort study matched 183 households who had suffered a maternal death to 346 households that experienced childbirth without maternal death in rural areas of three provinces in China. Surveys were conducted at baseline (1-3 months after maternal deat...

In this paper, we investigate whether and how personal bankruptcy law a ects small rms' access to credit. When a rm is unincorporated, its debts are personal liabilities of the rm's owner, so that lending to the rm is equivalent to lending to its owner. If the rm fails, the owner has an incentive to le for personal bankruptcy in order to obtain discharge of the rm's debts. While bankruptcy law ...

women's rights alimony as preferred creditor is highlighted in iranian civil law. in other words women's right on maintenance is given priority over other debts, meaning the wife's claim takes priority over all other debts. it should be noted the above mentioned rights are considered in the first draft of family protection law and more privilege is given to women on this issue. i...

This paper presents the Clearing Fund Protocol, a three layered protocol designed to schedule soft real-time sets of precedence related tasks with shared resources. These sets are processed in an open dynamic environment. Open because new applications may enter the system at any time and dynamic because the schedulability is tested on-line as tasks request admission. Top-down, the three layers ...

We use quasi-random access to the Home Affordable Refinance Program (HARP) to identify the causal effect of refinancing a mortgage on borrower balance sheet outcomes. We find that on average, refinancing into a lower-rate mortgage enabled borrowers to cut their default rates on mortgages by around 40% and their rates of serious delinquency on non-mortgage debts by about 25%. Refinancing also ca...