Using a sample of Chinese family firms from 2000 to 2007, we investigate whether the political connection of the family firms will help them to reduce the frictions they face in external financing in a relationship-based economy. We find that political connectedness of family firms could reduce their investment-cash flow sensitivity. More interestingly, this political connectedness effect exist...

Although prepayment schemes are being hailed internationally as part of a solution to health care financing problems in low-income countries, literature has raised problems with such schemes. This paper reports the findings of a study that examined the factors influencing low enrollment in Tanzania's health prepayment schemes (Community Health Fund). The paper argues that district managers had ...

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...

This paper investigates the relation between the degree of creditors’ legal protection and corporate decisions and the effects of this interaction on aggregate activity, both theoretically and empirically. We develop a two country general equilibrium model with overlapping generations. We assume asymmetric information in the credit market and we allow individuals to sign collateralized credit c...

Non-performing financing is one of the major risks faced by banks. The larger non-performing financing, worse it will be on soundness bank liquidity. This research a qualitative research. method used in this study descriptive analysis with field approach through interviews and documentation. results explain that factors cause problematic murabahah consist internal factors, namely management err...

We study how access to private equity financing affects real firm activities using a broad panel of publicly traded U.S. firms that raise external equity through private placements (PIPEs) between 1995 and 2008. The public firms relying on PIPEs are generally small, high-tech firms that cannot finance investment internally and likely face severe external financing constraints; PIPEs are by far ...

The transformation and optimization of energy enterprises can boost China's economic development. Studying the adjustment stock liquidity to their capital structure will help realize own value. Based on these, this paper explores influence by constructing a fixed-effect step-back model based static short-panel data, then draws following conclusions：(1)The better stock, smaller external financin...