Applying a robust human rights framework would change thinking and decision-making in efforts to achieve Universal Health Coverage (UHC), and advance efforts to promote women's, children's, and adolescents' health in East Africa, which is a priority under the Sustainable Development Agenda. Nevertheless, there is a gap between global rhetoric of human rights and ongoing health reform efforts. T...

Using a panel of 65,551 firms over the period 2000-2006, we examine the capital structure determinants of Chinese privately owned small and medium-sized enterprises. We find that investment in the building and maintenance of social capital, measured by entertainment expenditure, is positively associated with short-term leverage, but negatively associated with long-term leverage, while the oppos...

We examine whether banks, in providing financing for the deals, monitor firms mergers and acquisitions to the extent that will benefit acquirers shareholders. Inconsistent with the conventional theoretical argument, we do not find that bank-financed deals are associated with better stock or accounting performance than bond-financed deals or deals paid with internal cash. There is strong evidenc...

This paper examines to what extent credit ratings directly affect capital structure decisions. The paper outlines discrete costs/benefits associated with firm credit rating level differences, and tests whether concerns for these costs/benefits directly affect debt and equity financing decisions. The tests find that firms near a rating upgrade or downgrade issue less debt relative to equity than...

We develop a model where dividend payout, investment and financing decisions are made by managers who attempt to maximize the rents they take from the firm. But the threat of intervention by outside shareholders constrains rents and forces rents and dividends to move in lockstep. Managers are risk-averse, and their utility function allows for habit formation. We show that dividends follow Lintn...

We study the choice between public and private debt in a firm’s marginal financing decision and its effects on corporate investment. To do so, we build a dynamic model of investment and financing decisions in which firms can choose not only the amount but also the type of debt to issue to finance investment. The paper shows how various firm and industry characteristics, such as liquidation cost...

Research and theory in decision making and in similarity judgment have developed along parallel paths. We review and analyze phenomena in both domains that suggest that similarity processing and decision making share important correspondences. The parallels are explored at the level of empirical generalizations and underlying processing principles. Important component processes that are shared ...

This article examines the financing history of the U.S. Social Security system during the period starting with the amendments of 1939 and concluding with the amendments of 1950. It reviews the program's financing policies during this period, and in particular, a series of tax-rate "freezes" enacted during this time. The tax-rate schedule codified in the Social Security Act of 1935 was prevented...

Deadlines (DLs) and response signals (RSs) are two well-established techniques for investigating speed-accuracy trade-offs (SATs). Methodological differences imply, however, that corresponding data do not necessarily reflect equivalent processes. Specifically, the DL procedure grants knowledge about trial-specific time demands and requires responses before a prespecified period has elapsed. In ...

ultinational corporations (MNCs) typically use long-term sources of funds to finance long-term projects. They have access to both domestic and foreign sources of funds. It is worthwhile for MNCs to consider all possible forms of financing before making their final decisions. Financial managers must be aware of their sources of long-term funds so that they can finance international projects in a...