This article examines the impact of the divergence between corporate insiders’ control rights and cash-flow rights on firms’ external finance constraints via generalized method of moments estimation of an investment Euler equation. Using a large sample of U.S. firms during the 1994–2002 period, we find that the shadow value of external funds is significantly higher for companies with a wider in...

Poverty is a widespread problem not only inflicting poor nations, but also nations like the United States of America. In the history of the United States, women and racial minorities had always been persistently struggling with poverty. This paper intends to investigate poverty among Hispanic women between 2005 and 2010 and identify and analyze the relevant contributing factors. Within this per...

This paper argues that both Keynes and Minsky held a concept of financial instability which may be properly understood only in terms of structural instability, and not –as is usual-in terms of the traditional concept of economic instability, i.e. dynamic instability. Keynes is quite explicit in denying that the dynamic instability of a monetary economy is a particularly serious problem; on the ...

The purpose of the present research is to develop the auditors' critical thinking model in evaluating the employers' financial performances according to Total Interpretative Structural Analysis (TISM). In this research which qualitatively is a combined research based on Delphi analysis and meta-synthesis analysis and quantitatively is based on total interpretative structural analysis, two targe...

A major policy initiative over the past decade or so has been the deregulation of professional and financial services. In particular, reforms have been directed at structural deregulation, i.e. the removal of restrictions upon entry to or exit from specified markets and upon the permissible range of a firm’s activities. In some cases changes have been achieved via negotiation with self-regulato...

This paper develops a simple business-cycle model in which the financial sector originates a structural change that has large macroeconomic effects when private agents are gradually learning their economic environment. When the persistence of the unobserved process driving financial shocks to the leverage ratio changes, the responses of output and other aggregates under adaptive learning are si...

poverty is a widespread problem not only inflicting poor nations, but also nations like the united states of america. in the history of the united states, women and racial minorities had always been persistently struggling with poverty. this paper intends to investigate poverty among hispanic women between 2005 and 2010 and identify and analyze the relevant contributing factors. within this per...