This paper develops an asymmetric information model that provides an economic rational for co-signing. It is shown that banks can solve adverse selection problems by offering a co-signing contract that induces a risky and a safe firm to group together. The equilibrium co-signing debt contract strictly Pareto dominates an equilibrium without a co-signer if the latter entails rationing. The debt ...

During a crisis, developing countries regret having issued dollar denominated debt because they have to pay more when they have less. Ex ante, however, they may be worse off issuing local currency debt because the equilibrium interest rate might rise, making it more expensive for them to borrow. Many authors have assumed that lenders and borrowers have contrary goals, and that local currency (p...

This paper presents the results of an efficiency study of Colombian public universities in 2012, conducted using the methodology of Data Envelopment Analysis (DEA) and the models CCR, BCC and SBM under output orientation. The main objective is to determine technical, pure technical, scale and mix efficiencies using data acquired from the Ministry of National Education. An analysis of the result...

considering the efficiency studies play a role in making available the revise in relative importance, policy reforms and resource management, this study has been accomplished in fish beach seine cooperative companies located in golestan province and used dea approach to measure the technical efficiency (te) and factor effects. the survey data were gathered from 20 farms, which selected via cens...

the technical, allocative and economic efficiency of wheat growers in baft, kerman province were studied to analyze the degree of farmers success in the optimun allocation of their resources and the possibilities of increasing the production based on the available resources and factors of production. sampling was based on random method, so 75 farmers were selected. the stochastic frontier produ...

P omegranate product in Khash city causes this city enjoys a considerable advantage in terms of the production of this product. In this paper the performance of Khash township pomegranate producers was evaluated with a comprehensive analysis of supercharged performance. In this regard, the relevant information to complete the questionnaire in 2015 pomegranate growers in Khash city, w...