In this article, we investigate why merchants accept credit cards for payment despite the relatively high cost of processing these types of transactions. A two-period model is constructed to determine under what conditions a credit card equilibrium would exist. The results of the model indicate that when the cost of funds is not too high and when the merchant’s profit margin is sufficiently hig...

despite important  role that has parties volition in the contract based on article 191, contract espousal will be achieve  bused on  advisable something that is under contract the important role that has silence  in the contract may not be responsible but in practice has very legal effects for contract parties. legal volition is formant from implication and adoption since silence  is not, silen...

modern world revolutions have created some instruments known as ‎quasi-negotiable instruments which are different from negotiable ones, ‎despite having some similarities to them. commercial custom recognizes ‎them as quasi-negotiable instruments. the principle is that we don’t ‎need new legal regime for this new category because they are right in ‎personam when they are created and rights in re...

This paper reports the results of a survey of U.S. cultural institution (CI) professionals about whether CI should seek to control access to and use of digital cultural collections. It describes motivations that encourage institutions to control access to or use of collections and factors that discourage institutions from controlling access and use. The paper describes the results in terms of t...

nowadays, credit risk is recognized as one of the most important bankruptcy factors of banks and financial institutions. in order to manage and control this risk, design of credit rating models is undeniable necessity. credit rating is used to identify the probability of credit default and on the other side classify the customers into two groups: good and bad accounts. until now, various statis...

This paper focuses on sovereign credit risk meaning a hot topic related to the current Eurozone crisis. In the light of the recent financial crisis, market perception of the creditworthiness of individual sovereigns has changed significantly. Before the outbreak of the financial crisis, market participants did not differentiate between credit risk born by individual states despite different lev...

The credit crisis of 2007 and 2008 has thrown much focus on the models used to price mortgage backed securities. Many institutions have relied heavily on the credit ratings provided by credit agency. The relationships between management of credit agencies and debt issuers may have resulted in conflict of interest when pricing these securities which has lead to incorrect risk assumptions and val...

Counterparty credit risk has become one of the highest-profile risks facing participants in the financial markets. Despite this, relatively little is known about how counterparty credit risk is actually priced. We examine this issue using an extensive proprietary data set of contemporaneous CDS transaction prices and quotes by 14 different CDS dealers selling credit protection on the same under...

the study was designed to investigate the comparative analysis of agricultural credit users and non-users among cassava farmers in ohafia local government area of abia state. a sample of 50 credit users and 50 non-credit user cassava-based farmers were selected by multistage random sampling technique. data were collected with a well structured questionnaire administered to a total of 100 random...