Search results for "Finance"
showing 10 items of 4676 documents
Nitrogen fertilisation in coriander (Coriandrum sativumL.): a review and meta-analysis
2009
Nitrogen (N) fertilisation is one of the most important external inputs in assessing coriander seed yield and plant growth. Recent concerns related to the misuse of N fertilisers in agricultural environments, however, stress the opportunity for a fine-tuning of N management in order to optimise the use of this element, avoiding losses and reducing environmental hazards. In this study, some results from the literature concerning N fertilisation in coriander are reviewed and, by means of statistical analysis, an attempt is made to derive from them some general suggestions about practices of N fertilisation. In most cases examined, N fertilisation allowed a 10–70% increase in seed yields in co…
Fighting the COVID-19 Crisis: Debt Monétisation and EU Recovery Bonds
2020
AbstractThis paper highlights some peculiar characteristics of the economic crisis induced by the spread of COVID-19. It suggests two intertwined policy measures in order to tackle the emergency phase of the crisis and to support the economy in the subsequent recovery phase. The proposed short-term policy measures offer policy responses in the event of a second wave of coronavirus infections in the coming months. In the aftermath of the emergency phase, the current proposal puts forward the implementation of a massive EU-wide recovery plan addressing the long-lasting technological and environmental challenges of these years, which will be financed by European institutions through the issuan…
Circuit Breakers – a legal analysis of volatility safeguards in the rules of stock exchanges on the occasion of the COVID-19 crisis
2020
Abstract This paper examines circuit breakers (CBs), i. e. emergency systems of trading venues that interrupt or restrain trading when significant price movements of financial instruments occur. After a description of the ratio legis and the economic fundamentals, the genesis and the different forms of CBs are presented. The European legal framework is then outlined. The relevant rules of the Frankfurt Stock Exchange (FWB) serve as an example.
Corporate governance and performance: An analysis of Italian listed companies
2020
In recent years, both corporate governance and performance management have been subjected to considerable changes. In this dynamic context, it is interesting to study the evolution of the relationship between performance and governance. Does governance still affect performance? The purpose of this paper is to verify the presence and intensity (extent) of the relationship between corporate governance and performance in Italian listed companies by using both accounting and non-accounting performance measures. The purpose of this paper is to investigate the effects of prior firm performance on board composition and governance structure of some companies listed on the Italian stock exchange, an…
Responsabilité sociale de l'entreprise et pratique de gestion des ressources humaines.
2006
As far as human resource management practices (HRM) are concerned, how do French companies respondto corporate social responsibility (CSR)? Are they eager to develop practices beyond the existing legal rules?To answer these questions, we present the results of an inquiry involving 106 HR managers who mainlybelong to large manufacturing companies. Their statements, collected by questionnaire, are focused on a few“responsible” HRM practices:– Recruiting practices in favour of disabled or non skilled persons;– Training practices promoting the access or the return to work;– Communication practices encouraging the dialog between the managers and the employees.According to our results, the HR man…
Discussion of “Optimal Debt Service: Straight vs. Convertible Debt”
2006
Corporate bond default plays a signifi cant role in today's business environment. According to Moody's, a leading provider of credit ratings, corporate bond issuers that it rated as of January 1, 2004, defaulted on a total of US $16 billion in 2004. Credit default not only affects the equity investors of a firm, but also the debt holders, who may loose part of their credit. Default can also have dramatic consequences for a firm's future operations. Therefore, the decision of if and when to default is important for both the firm and its stakeholders. There is a substantial body of literature on the determination of optimal default points as a strategic decision by the owners of a firm. Accor…
Financial Companies in Latvia: Why are they Coming to the Bond Market?
2019
In the period 2013-2017 Latvian corporate bond market had experienced the abrupt growth of the number of public Latvian corporate bond issues outstanding. The base of the expansion was formed by the financing activity of Latvian financial sector issuers (FSIs) with their weight in the pool of corporate bond issues listed in Nasdaq Riga at 85%. In 2019, FSIs remain the main issuer in Latvian corporate bond market (64% of the number of issues (Nasdaq Baltic, 2019)). The financing needs and preferences of the FSIs not only shape the segment profitability but also build Latvian corporate bond market sustainability. 
 Academic papers provide broad motivation for corporate debt issuing: an e…
Convex costs and the hedging paradox
2010
Accepted version of an article from the journal:Journal of Corporate Finance. Published version available on Science Direct: http://dx.doi.org/10.1016/j.jcorpfin.2009.10.002 Financial theory suggests that hedging can increase shareholder value in the presence of capital market imperfections, including direct and indirect costs of financial distress, costly external financing, and convex tax exposure. The influence of these costs, which are high when profits are low and low or negligible when profits are large, on the extent of firm hedging has not been consistently addressed in the finance literature. In Brown and Toft's (2002) model, more convex costs imply that a firm will decrease the ex…
Opacity of young businesses: Evidence from rating disagreements
2008
Abstract A conventional wisdom in the contemporary corporate finance literature argues that small and medium-sized enterprises (SMEs) are informationally opaque. We use data from two credit information companies and in particular their disagreements over the creditworthiness of SMEs to study the empirical relevance of this often invoked assumption. Our panel data analysis shows that once unobserved firm-effects are controlled for, the disagreements (i.e., rating splits) are inversely related to the age of firms. We are not able to document such a robust relationship between the disagreements and the size of firms. This finding holds a lesson for empirical corporate finance researchers who n…
Challenges and trends of debt capital raising by SME: experience of the Baltic States
2012
The paper analyses topical issue of debt capital raising by small and medium-sized enterprises in the Baltic States under changing economic conditions. Raise of debt capital is crucial for SME, as financing and its availability is a critical precondition for the survival and development of enterprises. The paper gives an assessment of recent developments in debt capital raising in the Baltic States, identifies the most important challenges and problems, as well as the mistakes made. Based on the analysis made, authors provide solutions for debt capital raising challenges and possible changes in corporate finance of enterprises.