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This paper studies the financing status of small and medium enterprises (SMEs) in transition economies. Factors causing financing
obstacles are indentified and further analyzed to determine their influence over financing patterns. Bank regulatory practices
relevant to SMEs’ access to bank loans and their influence over loan structures are identified. This study contributes to
the existing body of knowledge by exploring the impact of specific bank regulatory practices on credit lending to SMEs in
transition economies. 相似文献
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Jeffrey A. Yost Ronald H. Rasch 《International Journal of Accounting Information Systems》2000,1(3):231
This paper investigates optimal price/warranty arrangements for the design of accounting information systems (AISs) when the user of the system has alternative sources of information. A mathematical model is developed that focuses on two systems design scenarios commonly encountered in practice: (1) enhancement and (2) replacement. In an enhancement scenario the AIS user hires the AIS designer to enhance the value of the current AIS by incorporating additional features into the original system. Systems replacement, on the other hand, implies that the designer produces a new system that makes the original system obsolete. Under a replacement system, a simple limited warranty implements the user's optimal decision rule so that no losses occur due to unobservability of the user's decision. For the enhanced AIS design however, the user's action may depend upon the signal from the user's preexisting AIS. Therefore, when the user's decision is not observable, the designer does not know if the user's decision is a result of the systems enhancement or a result of the original system. Due to incomplete contracts, a more complex and costly warranty arrangement is required. Hence, losses occur under enhancement AIS although quality can be maintained with a limited warranty. Since it is difficult to assess the quality of the information system prior to purchase, the potential for a market failure exists where high-quality systems are driven from the market by low quality systems. These findings show that a market failure can be prevented in the design of information systems through contractual warranty arrangements. These warranty arrangements, however, must be tailored to the specific design task. 相似文献
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Three studies examine how three factors generic to design, its typicality, clarity, and information content, relate to the accuracy of individual judgments about a brand's quality or personality. Study 1 focuses on interpersonal accuracy and shows that consensus in judgments made by managers and consumers are higher for designs high rather than low in typicality, clarity, and information content. Study 2 focuses on the interpersonal accuracy among consumers and finds again that consensus is higher for high typicality, high clarity, and high information designs. Study 3 focuses on intrapersonal accuracy and shows that – when consumers view designs first from a distance and then close – viewer judgments change less (i.e., are higher in consensual accuracy) for designs low on information content, whereas typicality has no effect. Across the studies, individual design acumen enhanced and category involvement attenuated design effects on accuracy. Further, higher accuracy was associated positively with purchase intention, and corresponded with greater ease and speed of judgment formation. 相似文献
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Kevin Murphy Kelly Semrad Elizabeth Yost 《International Journal of Hospitality & Tourism Administration》2013,14(1):50-65
This study investigates whether discounting hotel room rates during low seasons of demand influences in-house hotel restaurant sales in a positive way. A linear regression function was utilized to assess the relationship between discounting room rates and the hotel's in-house restaurant sales. The model summary provided results indicating that the discounting of room rates during the low season did not significantly influence in-house restaurant sales. The value of this study lies in the empirical results that may provide guidance to the revenue management practices of hotel managers. 相似文献
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Global Diversification, Industrial Diversification, and Firm Value 总被引:18,自引:0,他引:18
Using a sample of 44,288 firm–years between 1984 and 1997, we document an increase in the extent of global diversification over time. This trend does not reflect a substitution of global for industrial diversification. We also find that global diversification results in average valuation discounts of approximately the same magnitude as those for industrial diversification. Analysis of the changes in excess value associated with changes in diversification reveals that increases in global diversification reduce excess value, while reductions in global diversification increase excess value. These findings support the view that the costs of global diversification outweigh the benefits. 相似文献
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This paper empirically analyzes the relation between foreign bank ownership and the three pillars of the New Basel Capital Accord (i.e., capital regulatory oversight, supervisory oversight, and market discipline). Using a new database covering 153 countries, we find that countries with greater market discipline have a lower presence of foreign banks operating in their economy. Furthermore, our evidence indicates that capital regulatory oversight and supervisory oversight are not significantly related to foreign bank ownership. 相似文献