This theory can explain why bank debt is universally senior, consistent with the presence of conflict (lawyers) and absolute priority violations in financial distress: Better organized banks would more strongly contest priority in financial distress if they were junior. Because “deterrence” can reduce creditors’ total expenses in a priority contest, the ex post stronger lobbyist/litigant should...

Like most nonprofit hospitals, those of Massachusetts are facing serious financial challenges. Although the immediate issue is the shortfall between revenues and expenses, the author finds that the real problems are systemic, evidenced by at least three structural impediments: uncompensated care, overuse of teaching hospitals, and an increasingly unattractive environment for the practice of med...

1 This paper compares financial costs and benefits of floating rice-based and intensive rice farming systems using data from focus group discussions and household survey in four locations in the Mekong Delta. We argue that the net financial benefit per 1000m 2 of integrated floating rice-based farming systems is greater than the net financial benefit of intensive rice farming system. The total ...

We study a transitional economy where state-controlled banks make loan decisions based on noisy inside information on prospective borrowers, and may lend to avert unemployment and social instability. In China, poor financial performance and high managerial expenses increase the likelihood of obtaining a bank loan, and bank loan approval predicts poor subsequent borrower performance. Negative ev...

I am writing this just nine months after the Royal Bank of Scotland went bust and Gordon Brown wrote out a cheque for £37 billion to bail out the UK financial sector. That’s enough money to keep our MPs in dubious expenses for nigh on 40,000 years. And yet a new survey by Nottingham Business School shows that people still trust the banks more than the NHS – far more. As the Nottingham report (1...

"Spend Less. Eat Well. Feel Better." (SLEWFB) is a 3-hour intervention designed to improve food resource management ability, health, and food security status. This program efficacy trial targeted clients seeking financial aid to prevent homelessness. A randomized controlled design using a 1-hour food safety intervention as a control group was used. Four variables were targeted over a 30-day tim...

The plantation sector is the economy's backbone and state's foundation. contributed IDR 429 trillion to national Gross Domestic Product (GDP) in 2016. Oil palm, as main product Indonesia, has a high economic value compared other products one of primary sources country's foreign exchange. increase local demand factors influencing production palm oil. However, oil inversely proportional company's...

This paper explores a financial role of Japanese general trading companies (GTCs), which act as a central point in a distribution network among group firms. I examine Meltzer’s conjecture, which holds that financially strong companies like GTCs increase trade receivables and reduce trade payables to shield their trading partners from a monetary squeeze. First, I investigate the trade credit gra...