Commission for Higher Education (WICHE) and its partners – the American Council on Education’s Center for Policy Analysis, the National Conference of State Legislatures, and the State Higher Education Executive Officers – launched a project titled Changing Direction: Integrating Higher Education Financial Aid and Financing Policy, funded by Lumina Foundation for Education. Designed around an in...

This paper resolves the conceptual ambiguity of real option value and derives a model using risk-adjusted discount rates that can be applied to value the option to invest in a project. The approach adopts stochastic revenue and costs which provide a general solution with the added virtue of applicability. We found the option value arises from the difference between an individual investor and th...

The article presents the results of implementation National Project “Small and Medium Business Support for Individual Entrepreneurial Initiatives” federal projects included in it: “Improving conditions doing business”; “Expanding access small medium-sized businesses to financial resources, including concessional financing”; “Acceleration businesses”; “Creation a support system farmers developme...

theories and the existing studies predict different the relationship between external financing and investing activities and the stock returns. but almost of them predict that there is negative relationship separately between financing and investing activities with stock returns. this study examined the assumption that there is a significantly negative relationship between external financing ac...

Crowdfunding has been embraced by entrepreneurs across the globe as an alternative, and well-publicized, source of start-up financing. In Sweden, despite the apparent benefits of crowdfunding, high levels of internet connectivity and a reputation for producing global ICT entrepreneurs, crowdfunding has not (yet) been embraced among ICT entrepreneurs. This paper explores this empirical puzzle in...

We analyze the nature of financial contracting when an entrepreneur can choose the specificity of investments and financial contracts are incomplete. Investing in projectspecific assets increases productivity but decreases liquidation value. This creates a strategic incentive to specialize assets to decrease the bargaining power of the financier when debt financing is used. By contrast, equity ...

How can analyses of costs and cost-effectiveness help international health care specialists to monitor service delivery, evaluate activities, plan for improvements in programmes, and arrange for adequate financing? Answers illustrated in this paper include comparison of the average costs of specific services among local health care facilities for monitoring and supervision purposes; interpretat...

In this paper we investigate the behaviour of credit default in start-up companies. Using a logit regression technique on a panel data of 1430 start-ups and considering a tracking period of three years, we tested the impact on the probability of occurrence of the first credit event in financing agreements due to variables grouped into three categories: financial capital, human capital and indus...