I n this study we designed to test the remarkable repayment performance of Akhuwat in Pakistan; the most successful Islamic Microfinance Institution (IMFI), which offers interest-free loans in order to improve the quality of life and alleviate poverty. The model of Akhuwat is based on Muakhaat (brotherhood) and Qard-e-Hasan (offering financial assi...

MARTA FILICKOVA, PhD, Researcher at the Department of Pre-School and Elementary Pedagogy and Psychology, Faculty of Education, University of Presov in Presov, Slovakia; e-mail: marta. [email protected] doc. IVETA KOVALCIKOVA, PhD, Associate Professor at Department of Pre-School and Elementary Pedagogy and Psychology, Faculty of Education, University of Presov in Presov, Slovakia. IVAN ROPOVIK,...

Healing implies a view of wholeness. Working from Jesus' revelation of God on the cross as the self-giving love of Father (I), Son (Thou) and Holy Spirit (We), this article sees human wholeness as spiritual growth toward trinitarian love. Five stages of growth appear from salvation history: initial faith (trust), familial faith (conventional law morality), individuating faith (individually free...

This paper analyzes how different levels of debtor protection across U.S. states affect small firms’ access to credit, as well as the price and non-price terms of their loans. We use a measure of debtor protection that has its maximum value when the borrower’s home equity is lower than the state homestead exemption (debtor is fully protected), and is decreasing in the difference between the hom...

Estimation of Semiparametric Models in the Presence of Endogeneity and Sample Selection Siddhartha Chib, Edward Greenberg and Ivan Jeliazkov Siddhartha Chib is Harry C. Hartkopf Professor of Econometrics and Statistics, Olin Business School, Washington University in St. Louis, St. Louis, MO 63130 . Edward Greenberg is Professor Emeritus of Economics, Washington University in St. Louis, St. Loui...

We examine whether banks, in providing financing for the deals, monitor firms mergers and acquisitions to the extent that will benefit acquirers shareholders. Inconsistent with the conventional theoretical argument, we do not find that bank-financed deals are associated with better stock or accounting performance than bond-financed deals or deals paid with internal cash. There is strong evidenc...

This paper studies how credit constraints develop over bank relationships. I analyze a unique dataset of matched loan application and loan contract information and measure credit constraints as the ratio of requested to granted loan amounts. I find that the most important determinants of receiving smaller than requested loan amounts are firm age and size at the time of the first interaction bet...