protect the rights of creditor financial and deny the debt and concern the law of debtor, is important to the tradition and the attention of lawgiver and this issue well used from the quran and habit and scholars fatwas. in the trades in which for escape from the debtor's debt, specially concerning to change of alter the 218 clause of the civil codes, expressing the opinion and a few of people ...

this paper analyzes the relationship between capital structure and earning management. for analysing we used 119 non-financial companies that listed in tehran stock exchange from 2000 to 2008. the researchers will focus on comparing the jones model and the modified jones model, which are the two most frequently used model in empirical analysis nowadays. earnings management is a kind of manageme...

under article 267 of the civil code, a person who pays the debt of the other without his permission cannot recover the amount paid as the payment of debt in this situation appears to be gratuitous. nevertheless, in different codes, the legislator has permitted a third party to pay the debts of the others in some situations.. by carefully examining these cases, it can be said that anytime the th...

The purpose of the research conducted for this thesis was to investigate perceptions of responsibility and blame for rising levels of consumer debt in the UK, focusing on two key stakeholder groups often associated with the issues relating to consumer debt: individual borrowers and consumer credit lenders. Research was conducted with these stakeholders; debtors represented the individual borrow...

3. The HIPC-Initiative, Fiscal Ownership and the Quality of Aid 3.1. The Quantitative and Qualitative Impact of the HIPC-Initiative 3.2. Impact on Resource Flows: The Debt Reduction Dividend 3.2.1. Measuring the Amount of Virtual Resources 3.2.2. Additionality 3.2.3. Debt Overhang 3.2.4. Debt Sustainability 3.3. Impact on Poverty Reduction and Aid Effectiveness 3.3.1. Channeling Debt Relief int...

We provide a simple model of sticky nominal debt contracts and fixed rate debt that can easily be embedded in a dynamic general equilibrium framework. Once linearised, the debt process increases the order of autoregressive dynamics in the system by one; thus potentially introducing more complex adjustment processes. Keywords: nominal debt; dynamic general equilibrium. JEL Classifications: E30, ...

Using a novel dataset of accounting and market information that spans most publicly traded firms over the last century, we show that government deficit financing crowds out nonfinancial corporate debt financing and investment. Specifically, an increase in the supply of treasury debt is associated with a significant reduction in corporate leverage, debt issuances, and investment, but no signific...

The optimal outcome of a firm in bankruptcy is to liquidate if its asset value is greater than its value as a going concern or, alternatively, to reorganize if it is worth more as a going concern. In this study, we identify firm asset and liability characteristics which may determine the likelihood of a firm successfully emerging from bankruptcy. We find two key factors influencing the success ...

Abstract: Theoretical literature seeking to explain public-debt accumulation exploded in recent years as debt crises emerged in many nations. However, empirical evaluation of political-economy theories has lagged that of basic economic-conditions models. This paper joins those beginning to redress the imbalance, operationalizing and evaluating standard electoral and partisan budget-cycles argum...

Fiscal considerations and commitment drive the choice of monetary policy regime, especially for developing countries. I survey the fiscal foundations of price determination, and study the maximize-inflation-tax, interest rate rule, peg and currency board, and dollarization regime. Since nominal debt acts like equity for the government, the dollarization question is like the question whether a f...