introduction: the quality of financial reports is measured by accruals, and these accruals can be manipulated by managers. therefore, managers by manipulating the accruals can affect the quality of financial reports. in this research, a new non-financial element has been considered as manager's ability, and its goal is to investigate the effect of manager's ability on the relationship between t...

We investigate how private information and monitoring affects both the sensitivity of investment to internally generated cash flows and the role of accounting quality in reducing this sensitivity. We expect financing frictions to be lower when debt is obtained from banks with private information and when banks place direct restrictions on investments. We also argue that access to private inform...

Modifying the proof of a theorem of Wilkie, it is shown that if a one dimnsional set S is definable in an O minimal expansion of the ordered field of the reals, and if it is regularly exponentially near to many integral points, then there is an unbounded set, which is R definable without parameters, and which is exponentially near to S.

In this article we will describe some of the main developments in interest-rate modelling since Black & Scholes’ (1973) and Merton’s (1973) original articles on the pricing of equity derivatives. In particular, we will focus on continuoustime, arbitrage-free models for the full term structure of interest rates. Other models which model a limited number of key interest rates or which operate in ...

This study, conducted with a sample of Spanish listed companies during the period 1998-2008, examines the role of financial reporting quality and debt maturity in investment efficiency. The results show that financial reporting quality mitigates the overinvestment problem. Likewise, lower debt maturity can improve investment efficiency, reducing both overinvestment and underinvestment problems....

control of production processes in an industrial environment needs the correct setting of input factors, so that output products with desirable characteristics will be resulted at minimum cost. moreover, such systems havetomeetset of qualitycharacteristicstosatisfycustomer requirements.identifyingthemosteffectivefactorsindesignoftheprocesswhichsupportcontinuousandcontinualimprovement isrecently...

Public infrastructure projects often involve large amounts of financial resources and take many years. They need to operate under regulations that contribute optimising their lifespan costs, assess risk exposure, build resilience. The OECD Recommendation on the Governance Infrastructure highlights a coherent, predictable, efficient regulatory framework encourages investment in public infrastruc...

Abstract Each year in the US, hundreds of billions dollars are spent on transportation infrastructure and hours lost traffic. We develop a quantitative general equilibrium spatial framework featuring endogenous costs traffic congestion apply it to evaluate welfare impact improvements. Our approach yields analytical expressions for between any two locations, along each link network, distribution...