We study the implications of credit market frictions for the dynamics of corporate capital structure and the risk of default of corporations. To do so, we develop a dynamic capital structure model in which firms face uncertainty regarding their ability to raise funds in credit markets and have to search for investors when seeking to adjust their capital structure. We provide a general analysis ...

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...

zinnia elegans, an annual flowering plant of the genus zinnia, is one of the best known zinnias. present study was conducted to evaluate the effect of different growing media on the growth and flowering of zinnia elegans. seven different growth media including coconut compost, silt, soil loam, leaf manure, (leaf manure + silt; 2:1), (coconut compost + soil loam; 1:1) and (leaf manure + soil loa...

tragacanth gum is one of the most important medicinal and industrial productsof rangelands and is obtained from the incision of gum tragacanth-producing astragalusincluding astragalus keyserlingii. the conservation of astragalus species in rangelandshas a special place in terms of economic profit and soil conservation. the increase in priceof gum tragacanth in recent years and more attention of...

We quantify the relative importance of various drivers behind subprime borrowers’decision to default. In our econometric model, we allow borrowers to default either because doing so increases their lifetime wealth or because of short-term credit constraints, taking into account that either factor by itself is suffi cient to induce default. Our model also incorporates various proxies for borrowe...

The challenges of changing times need serious attention regarding how to use the internet safely, especially in world commerce such as e-commerce without experiencing difficulties due unpreparedness various aspects Indonesia, legal related electronic order anticipate possibility that occurs, cases default between consumers. with manufacturer. purpose this study is identify effective consumer pr...

This paper describes a default reasoning problem, analogous to the frame problem, that arises when an attempt is made to construct a logic-based calculus for reasoning about the movement of objects in a real-valued co-ordinate system. A number of potential solutions to this problem are examined. Particular attention is given to the interaction between the default reasoning required by these sol...

In this paper we present a transformation of finite propositional default theories into socalled propositional argumentation systems. This transformation allows to characterize all notions of Reiter’s default logic in the framework of argumentation systems. As a consequence, computing extensions, or determining wether a given formula belongs to one extension or all extensions can be answered wi...

I I I I We introduce the operation of possibility qualification and show how I this modal-like operator can be used to represent "typical" or default knowledge in a theory of nonmonotonic reasoning. We investigate the representational power of this ·approach I by· looking at a number of prototypical problems from the nonmonotoni� reasoning literature. particular we look at the so called Yale sh...