The Experts below are selected from a list of 7518 Experts worldwide ranked by ideXlab platform

Ulf Moslener - One of the best experts on this subject based on the ideXlab platform.

  • Taxing externalities under Financing constraints
    The Economic Journal, 2017
    Co-Authors: Florian Hoffmann, Roman Inderst, Ulf Moslener
    Abstract:

    We consider an economy where production generates externalities, which can be reduced by additional firm level expenditures. This requires firms to raise Outside Financing, leading to deadweight loss due to a standard agency problem vis-a-vis Outside investors. Policy is constrained as firms are privately informed about their marginal cost of avoiding externalities. We first derive the optimal linear pollution tax, which is strictly lower than the Pigouvian tax for two reasons: First, higher firm Outside Financing creates additional deadweight loss; second, through redistributing resources in the economy, a higher tax reduces average productive efficiency. We analyze various instruments that achieve a more efficient allocation, in particular, nonlinear pollution taxes, which can no longer be implemented through a tradable permit scheme alone, and grants tied to loans, which are frequently observed in practice.

Sung Min Kim - One of the best experts on this subject based on the ideXlab platform.

  • why we plan the impact of nascent entrepreneurs cognitive characteristics and human capital on business planning
    Strategic Entrepreneurship Journal, 2015
    Co-Authors: Jan Brinckmann, Sung Min Kim
    Abstract:

    We examine the impact of nascent entrepreneurs' cognitive attributes and human capital on business planning behavior. We find that entrepreneurial self-efficacy facilitates development of formal business plans and entrepreneurial perseverance promotes engaging in business planning activities. Further, advanced academic education leads nascent entrepreneurs to engage in business planning activities and create formal business plans, but prior work experience has a marginal effect on business plan formality. The results further indicate that a nascent entrepreneur's striving for Outside Financing promotes business planning activities, while being in a supportive environment or a member of a business association does not impact business planning behavior. Copyright © 2015 Strategic Management Society.

Matti Suominen - One of the best experts on this subject based on the ideXlab platform.

  • Industry equilibrium with Outside Financing and moral hazard: Implications for market integration
    European Economic Review, 2004
    Co-Authors: Matti Suominen
    Abstract:

    Abstract In this paper, we study industry equilibrium under the assumptions that (1) firms need Outside Financing and (2) they have a moral hazard problem in taking potentially excessive risks. We characterize an industry equilibrium with credit rationing, where firms choose not to take risks, and compare this to the industry equilibrium in the absence of credit rationing. In both cases, we show that competition increases and prices decline as markets integrate. However, in markets with credit rationing there is typically more exit, a smaller decline in prices and, most strikingly, the market value of the industry increases rather than decreases.

  • Industry Equilibrium With Outside Financing and Moral Hazard: Effects of Market Integration
    SSRN Electronic Journal, 1999
    Co-Authors: Matti Suominen
    Abstract:

    In this paper we study industry equilibrium and the effects of integration under the assumptions that 1) firms must use Outside Financing and 2) they face a moral hazard problem due to the possibility of taking excessive risks. These are typical features of banking and insurance, for instance. We examine an industry equilibrium where firms choose not to take excessive risks and compare this with the equilibrium in industries that do not have a moral hazard problem. We show that, as markets integrate, competition intensifies and prices fall in both types of industry. In markets with moral hazard there are relatively more exits, a smaller fall in prices and, contrary to the other case, the market value of the industry increases.

Zhe Yin - One of the best experts on this subject based on the ideXlab platform.

  • Financing online retailers: Bank vs. electronic business platform, equilibrium, and coordinating strategy
    European Journal of Operational Research, 2019
    Co-Authors: Chengfu Wang, Xiaojun Fan, Zhe Yin
    Abstract:

    We consider a new Financing source for online retailers, namely an electronic business (EB) platform, which is divided into an active and a conservative form according to the level of integration of lending and leasing businesses. The newsvendor-like online retailer is capital-constrained and can choose between EB platform Financing and bank credit Financing (BCF). We model their interaction as a Stackelberg game, where the online retailer functions as the follower who decides the order quantity and the lender (bank or EB platform) functions as the leader who declares the loan interest rate or the EB platform’s usage fee rate. From the equilibrium and coordinating analyses, we conclude that the active EB platform Financing can achieve supply chain Financing (SCF) coordination, yielding a larger order quantity and larger participants’ profits than those yielded through BCF, while the conservative may not. When the coordination condition on order quantity is satisfied, if the initial working capital is a constant, there exists a linear decreasing trend between the EB platform’s loan interest rate and the usage fee rate. When the weak coordination conditions are satisfied, the active EB platform can offer many coordinated Financing contracts, which are applicable to different initial working capital conditions. For achieving SCF coordination, the EB platform should be active to adjust his loan interest rate and usage fee rate together. Moreover, even if the online retailer has sufficient working capital, she always prefers using the coordinated active EB platform Financing to refusing any Outside Financing.

Muhabie Mekonnen Mengistu - One of the best experts on this subject based on the ideXlab platform.

  • Evaluation of the Financial Performance of Banking Sectors in Ethiopia: The Case of Zemen Bank
    Global Journal of Management and Business Research, 2015
    Co-Authors: Muhabie Mekonnen Mengistu
    Abstract:

    This study is aimed at evaluating the financial performance of the banking sectors in Ethiopia with a special focus on Zemen Bank S.C. for the period 2009 to 2014. To meet the objective of the study, secondary sources of data, such as annual reports of the bank have been utilized. After collecting the necessary data, appropriate financial ratios and descriptive statistical techniques were employed for analyzing, interpreting and giving a condensed picture of the collected data. Accordingly, the results of the study revealed that the financial performance of the bank had kept on improving, if not fluctuating over time. Besides, the bank has performed well in profit earning and efficiently managing its assets for generating revenue, whereas there is a need for improvement in its much dependence on Outside Financing and the high proportion of nonperforming loans.

  • Evaluation of Financial Performance of the Banking Sectors in Ethiopia: The Case of Zemen Bank
    European Journal of Business and Management, 2015
    Co-Authors: Muhabie Mekonnen Mengistu
    Abstract:

    This study was aimed at evaluating the financial performance of the banking sectors in Ethiopia with a special focus on Zemen Bank S.C. for the period 2009 to 2014. To meet the objective of the study, secondary sources of data, such as annual reports of the bank have been utilized. After collecting the necessary data, appropriate financial ratios and descriptive statistical techniques were employed for analyzing, interpreting and giving a condensed picture of the collected data. Accordingly, the results of the study reveal that the financial performance of the bank had kept on improving, if not fluctuating over time. Besides, the bank has performed well in profit earning and efficiently managing its assets for generating revenue, whereas there is a need for improvement in its much dependence on Outside Financing and the high proportion of non-performing loans. Keywords: Financial Performance, Ratios, Banking sectors, Zemen Bank, Ethiopia