Using internal data of a leasing company in Germany, we examine the determinants of the probability and use of leasing by small firms. We find that small and young firms are likely to be constrained on the leasing market but use leasing to increase their debt capacity. Beyond contractand firm-specific characteristics, demographic and socio-economic characteristics of the entrepreneur matter. Ol...

This paper contrasts the costs and benefits of leasing, rather than owning real estate assets. Consistent with the financing and agency costs hypotheses, I find that large and high growth companies are likely to lease than to own real estate. The results also indicate that leasing companies are more efficient in using their real estate and that these benefits are compounded in share price valua...

In this paper we examine the influence that indirect network effects have on a durable goods manufacturer’s distribution strategy to lease or sell her product. Previous research has identified that a durable goods manufacturer can mitigate the potential for its own opportunistic behavior with respect to consumers by leasing instead of selling its product. However, we show that leasing creates a...

The leasing concept enjoys increasing popularity in the context of distributed systems – a prime example for this is Jini. In this paper, we present a service that realises the leasing concept for the CORBA environment. We discuss various resource management techniques with regard to CORBA and detail their advantages and disadvantages. The focus of this work, however, is the description of the ...

Consider the following Steiner Tree leasing problem. Given a graph G = (V, E) with root r, and a sequence of terminal sets Dt ⊆ V for each day t ∈ [T ]. A feasible solution to the problem is a set of edges Et for each t connecting Dt to r. Instead of obtaining edges for a single day at a time, or for infinitely long (both of which give Steiner tree problems), we lease edges for say, { a day, a ...

Under the situation of the furious compet.ition among the leasing companies, the important problem for a leasing company's management is to determine a lease charge on each lease contract suitably from the managemmt viewpoint. A lease charge is considered to be suitable when the leasing company can get an appropriate profit through the contract. But quite a lot of leasing companies adopt a full...

Operating leases are estimated in the current paper to be approximately thirteen times larger than ®nance leases, on average. In recognition of this, the paper investigates the degree of substitutability between leasing and non-lease debt using a comprehensive measure of leasing, improving on the partial measures used in prior research. Operating lease liabilities are estimated using the Ôconst...