This paper argues that the existing finance literature is inadequate with respect to its coverage of capital structure of small and medium sized enterprises (SMEs). In particular it is argued that the cost of equity (being both conceptually ill defined and empirically non quantifiable) is not applicable to the capital structure decisions for a large proportion of SMEs and the optimal capital st...

The purpose of this paper is to empirically investigate the interaction between hedging, financing, and investment decisions. This work is relevant in that theoretical predictions are not necessarily identical to those in the case where only two decisions are being made. We argue that the way in which hedging affects the firms’ financing and investing decisions differs for firms with different ...

despite fiscal stress, public confidence in the national health service (nhs) remains strong; privatisation has not hollowed out the service. but if long term challenges are to be overcome, pragmatism not rhetoric should be the guide.

the article takes its cue from models of quantitative research applied to complementary/alternative medicine (cam) and pinpoints some innovative features in the case at issue (portugal). it goes on to outline new research scenarios moving beyond the either biomedical or cam framework.

There is a missing funder in the Funding section. Please refer to the complete funding statement here: We thank Karen Frutchey and Raymond Clarke of the Pacific Islands Regional Office, National Marine Fisheries Service (NMFS) and National Oceanic and Atmospheric Administration (NOAA) who provided key funding towards this project. The funders were base funding and add-on funding from the United...

We select the letters for these pages from the rapid responses posted on bmj.com favouring those received within five days of publication of the article to which they refer. Letters are thus an early selection of rapid responses on a particular topic. Readers should consult the website for the full list of responses and any authors' replies, which usually arrive after our selection. We compare ...

We consider a firm that operates a single plant and has an expansion option to invest in a new plant. This setup leads to two-sided optimal stopping problems. We analyze optimal expansion timing and quantify the value of the loan commitment that the equityholder obtained from the lender and associated agency costs incurred on the lender’s side. Moreover, we incorporate construction period for t...