This study investigates differences in the policies being pursued by innovative and non-innovative firms. It focuses on a broad group of strategies--in marketing, finance, production, management and human resources and asks whether there are key areas in which the strategies being followed by innovative and non-innovative firms differ. It also ask how the activities of firms in each of these ar...

We consider the financing of a research project under uncertainty about the time of completion and the probability of eventual success. We distinguish between two financing modes, namely relationship financing, where the allocation decision of the entrepreneur is observable, and arm's-length financing, where it is unobservable. We find that equilibrium funding stops altogether too early relativ...

Analyzing cash flows and undertaking project financing are important for contractors in managing construction projects. Traditional methods for cash flow analysis are based on the manual integration of time and cost information. However, the manual integration process can be automated by using five-dimensional building information modeling (5D BIM). Previous studies on 5D BIM have focused on es...

Mr. Chairman and members of the committees: We are pleased to be here today to discuss alternative financing for surface transportation infrastructure projects. As Congress considers reauthorizing the Transportation Equity Act for the 21st Century (TEA-21) in 2003, it does so in the face of a continuing need for the nation to invest in its surface transportation infrastructure and at a time whe...

BACKGROUND Equity in health care entails payment for health services according to the capacity to pay and the receipt of benefits according to need. In Uganda, as in many African countries, although equity is extolled in government policy documents, not much is known about who pays for, and who benefits from, health services. This paper assesses both equity in the financing and distribution of ...

Evidence has been mounting (over the centuries) that the interest based debt financing regime is under ever increasing distress. All of the earlier crises whatever label they carried− exchange rate crisis or banking crisis – have been debt crises in essence. At the present, empirical research suggests that the debt-to-GDP ratio of the richest members of the G-20 threatens to touch 120% m...

We study the effect of asset liquidity (“tangibility”) on firm policies in the presence of financing constraints. We do so in a real options framework that allows for the simultaneous determination of investment and financing. In the presence of financing imperfections, firms that operate more tangible assets have larger credit capacity. By expanding the firm’s capital base, the investment proc...

the vast expanse of the urban distressed areas in the country and multiple damages that their inhabitants face on economic, social and cultural aspects remind the need for higher attention to these constructions. meanwhile, tehran's distressed areas with more than 3268 hectares (5.3% of the area of ​​tehran) has a population of one million and three hundred thousand people in it, is one of...

The basic static self-financing result for congestible facilities, due to Mohring 1 and Harwitz (1962) and Strotz (1965), is that if the facility exhibits constant long-run average costs, then the revenue from the optimal toll exactly covers the cost of constructing and operating the optimal capacity. More generally, if the user cost function is homogeneous of degree zero in capacity and usage,...