The Community Empowerment Trust Fund is a revolving fund belonging to the community originating from former Sub-District Development Program and National for Independent Rural in Indonesia which ended 2014. institutions then manage economic activities form of group loans. lending model financial inclusion that reaches poor who do not have collateral. These funds been managed well with loan mode...

Recent theoretical investigations suggest that the rate of river incision into bedrock depends nonlinearly on sediment supply, challenging the common assumption that incision rate is simply proportional to stream power. Our measurements from laboratory abrasion mills support the hypothesis that sediment promotes erosion at low supply rates by providing tools for abrasion, but inhibits erosion a...

We introduce a model in which a regulator employs mechanism design to embed her human capital beta signal(s) in a firm’s capital structure. This can enhance her compensation at the firm, and the value of her contract with the firm in the form of an executive stock option. We prove that the agency cost of this revolving door behavior increases the firm’s financial leverage, bankruptcy risk, and ...