This paper investigates the characteristics of firms that adopt persistent conservative financial policies. We are mainly interested in the determinants of the likelihood of firms adopting the persistent policies of low-leverage and high-cash holdings simultaneously. In this paper, we classify firms as financially conservative if they adopt both low-leverage and high-cash policies at the same t...

from long time ago the shortage of finance in business practices was one of the striking problems for traders and thus there have always been endeavors to find a solution to it. one of the ways put forward was using the stocks stored in warehouses as security for loans. taking advantage of a descriptive method, this paper describes field-warehousing as a means of raising cash funds and the regu...

This paper assesses the role of conditionality in cash transfer programs using a unique experiment targeted at adolescent girls in Malawi. The program featured two distinct interventions: unconditional transfers (UCT arm) and transfers conditional on school attendance (CCT arm). While there was a modest decline in the dropout rate in the UCT arm in comparison to the control group, it was only 4...

A model is developed in which an industry of N $ 1 firms is privatised. The ‘participation’ method of privatisation is used, whereby firms are sold for cash, but the state retains a proportionate share of ownership. In each firm the new private owner has the opportunity to make a reorganisational investment, before output is produced. This investment is unobservable by the state, and therefore ...

in this work, harmony search meta-heuristic optimization algorithm has been developed for aerodynamic shape optimization problem for the first time. the aerodynamic shape, which has been investigated, is an airfoil with parces method for its shape parameterization. the problem was minimization of aerodynamic objective function using inverse design method and the objective function has been the ...

We study a multiperiod portfolio selection problem in which a single period meanstandard-deviation criterion is used to construct a separable multiperiod selection criterion. Using this criterion, we obtain a closed form optimal strategy which depends on selection schemes of investor’s risk preference. As a consequence, we develop a multiperiod portfolio selection scheme. In doing so, we adapt ...

BACKGROUND: The role of copper accumulation in the onset of hepatitis is still unclear. Therefore, we investigated a spontaneous disease model of primary copper-toxicosis in Doberman pinschers so to gain insights into the pathophysiology of copper toxicosis, namely on genes involved in copper metabolism and reactive oxygen species (ROS) defences. RESULTS: We used quantitative real-time PCR to d...

Purpose – This study examines whether the type of ultimate controllers (i.e., private vs. state) affects corporate disclosure quality and whether the relationship between the type of ultimate controllers and corporate disclosure quality is moderated by the separation of ownership and control. Design/methodology/approach – This study employs the data of 405 Chinese listed firms in 2005. We revie...