We analyze optimal financial contracts when the specificity of investments is endogenous. Specialization decreases the liquidation value of assets, but it also improves the project’s long term productivity. While the first effect is known to make financing more difficult, we show that the second effect can ease financing constraints and increase financing capacity by improving an entrepreneur’s...

This paper tries to define the concept of Export Finance and establish if the Export Financing is cost-effective way to raise capital and how is it organized in the Russian Federation. In order to do so, several methods have been used: the related literature has been studied, numerical analysis of economic-efficience of export financing has been prepared based on the real example and three inte...

BACKGROUND China is in the process of integrating the new cooperative medical scheme (NCMS) and the urban residents' basic medical insurance system (URBMI) into the urban and rural residents' basic medical insurance system (URRBMI). However, how to integrate the financing policies of NCMS and URBMI has not been described in detail. This paper attempts to illustrate the differences between the f...

Countries need short, medium, and long-term investment plans for production growth and development. Different sources for these investments can be supplied through retained profit, stock issuance, and bank loans, or a combination them. Institutions and firms need huge amount of capitals for their survival, production, and also development of activities. In addition, these institutions and firms...

Environmental protection firms need to improve their ability to access financing while maintaining good economic performance under mounting environmental pressures. After the integration of trade-off and stakeholder theories, we have constructed a number of mathematical models to investigate the relationship among financing decisions, environmental performance (EP), and economic performance. Un...

Higher education drives and is driven by globalisation. It trains the highly skilled workers and contributes to the research base and capacity for innovation that determine competitiveness in the knowledge-based global economy. It facilitates international collaboration and cross-cultural exchange. Cross-border flows of ideas, students, faculty and financing, coupled with developments in inform...

This article focuses on the provision and financing of aged care in Australia. Demand for aged care will increase substantially as a result of population aging, with the number of Australians aged 85 and over projected to increase from 400,000 in 2010 to over 1.8 million in 2051. Meeting this demand will greatly strain the current system, and makes it important to exploit opportunities for incr...