78 research outputs found
CityLog - Sustainability and efficiency of city logistics: The M-BBX (Modular BentoBox System)
No full textThis paper presents some of the results of CityLog, a European Union project approved in the context of the 7th Framework Programme that is still ongoing and will terminate at the end of 2012. The project is intended to increase the sustainability and the efficiency of urban delivery of goods through an adaptive and integrated mission management and innovative vehicle solutions. Three partners of the CityLog consortium were in charge of the design and realization of a new container concept which had to be adapted to the associated innovative vehicles solutions for load units' handling operation. © 2011 IEEE
Short stories of D.H. Lawrence
No full textSIGLEPersonal author / UCL - Université Catholique de LouvainBEBelgiu
The evolution of debt policies: New evidence from business startups
No full textThis is the author accepted manuscript. The final version is available from the publisher via the DOI in this recordWe investigate the evolution of entrepreneurial firms' debt policies over a period of 15 years after startup, considering leverage, debt specialization, debt maturity and debt granularity. Our analysis is based on a unique sample covering all non-financial Belgian firms founded between 1996 and 1998. We find that the debt policy of entrepreneurial firms is remarkably stable over time. The debt policy in the initial year of operation is a very important determinant of future debt policies, even after controlling for traditional contemporaneous determinants. The founder-CEO has an important impact on the stability of debt policies: the influence of initial debt policies on future debt policies is significantly reduced when the founder-CEO is replaced or when (s)he dies. Combined, our findings support imprinting theory.Hercules FundNational Bank of BelgiumGhent University Special Research Fun
Local banking development and the use of debt financing by new firms
No full textThis is the author accepted manuscript. The final version is available from the publisher via the DOI in this recordWe investigate the effects of local banking development on the debt financing of new firms using a large sample of Italian firms. Controlling for potential endogeneity issues, we find that new firms are more likely to use bank debt and have higher leverage in provinces with more bank branches relative to population. However, it is important to account for bank heterogeneity. For instance, more foreign banks in a province actually reduce access to bank debt. Taken together, our study provides new and nuanced evidence on the role of local banking development for the debt financing of new firms
CityLog - Sustainability and efficiency of city logistics: The M-BBX (Modular BentoBox System)
No full textS.132-135This paper presents some of the results of CityLog, a European Union project approved in the context of the 7th Framework Programme that is still ongoing and will terminate at the end of 2012. The project is intended to increase the sustainability and the efficiency of urban delivery of goods through an adaptive and integrated mission management and innovative vehicle solutions. Three partners of the CityLog consortium were in charge of the design and realization of a new container concept which had to be adapted to the associated innovative vehicles solutions for load units' handling operation
Credit Financing of Micro-Enterprises and Farmers by Commercial and Cooperative Banks in Poland: Does the Use of Investment and Working Capital Loans Change During the COVID-19 Pandemic?
No full textPurpose – The paper aims to assess the credit financing of microenterprises and farmers by commercial and cooperative banks in pre-COVID-19 and COVID-19 subperiods. Research method – In the study, we apply the Kruskal-Wallis test and Wilcoxon ranksum pairwise comparison test with the adjustment based on the Benjamini and Hochberg method to check whether there are significant differences in median values of banking loan categories for microenterprises and farmers among commercial and cooperative banks in the pre-COVID-19 and COVID-19 periods. Results – We observe that microenterprises mostly use commercial banks, while farmers depend majorly on cooperative banks. Additionally, farmers use investment loans more often than microenterprises. We show a significant decline in loan sales and enquiries among microenterprises and farmers during COVID-19. Moreover, we observe the median values of all analysed categories show significant differences between commercial and cooperative banks. It concerns both investment and working capital loans. Originality /value /implications /recommendations – Our contribution is that we analyse this issue from the perspective of leading suppliers offering banking loans, i.e., commercial and cooperative banks. We detect whether analysed banking loan categories differ significantly in the group of microenterprises and farmers across commercial and cooperative banks in Poland in the above-mentioned periods. To our knowledge, there are no similar studies. The results of our study might be helpful for banking institutions and policymakers
in the context of a potential future pandemic or crisis situation.dr Michał WIELECHOWSKI: [email protected] Adam ZAJĄC: [email protected] Katarzyna CZECH: [email protected] Michał WIELECHOWSKI - Warsaw University of Life Sciences SGGWdr Adam ZAJĄC - Cardinal Stefan Wyszyński Universitydr Katarzyna CZECH - Warsaw University of Life Sciences SGGWAghion P., Fally T., Scarpetta S., 2007, Credit Constraints as a Barrier to the Entry and Post-entry Growth of Firms, Economic Policy, 22.52, pp. 732–779, DOI: 10.1111/j.1468 0327.2007.00190.x.Ayyagari M., Beck T., Demirguc-Kunt A., 2007, Small and Medium Enterprises Across the Globe, “Small Business Economics”, 29(4), pp. 415–434, DOI: 10.1007/s11187006-9002-5.Bartik A., Bertrand M., Cullen Z., Glaeser E., Luca M., Stanton C., 2020, How Are Small Businesses Adjusting to COVID-19? Early Evidence from a Survey, National Bureau of Economic Research, No. w26989, DOI: 10.3386/w26989.Beck R., Jakubik P., Piloiu A., 2015, Key Determinants of Non-performing Loans: New Evidence from a Global Sample, “Open Economies Review”, 26(3), pp. 525–550,
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Determinants of Corporate Financial Disclosure in an Unregulated Environment: Evidence from the Early 20th Century
No full textWe investigate the determinants of corporate financial reporting in an unregulated setting. Prior to the First World War, limited liability companies in Belgium were obliged to publish financial statements, but financial reporting was virtually unregulated. Investor protection was generally very poor. Nevertheless, Belgian stock markets were booming. While the amount of information disclosed in the financial statements was generally low relative to the current levels of disclosure, there was significant variation in financial reporting across firms. Our results suggest that financial reporting was significantly affected by universal bank affiliations, bond financing and stock returns. Dividends were a substitute for income statement transparency.
Identifying methods of gathering and sharing hazardous air containment information
No full textPlan BFor the past five years, air contaminants at Spectro Alloys have been a major source of employee concern. In these same five years, Spectro Alloys has seen high turnover and low employee morale. The purpose of this study was to assess and describe ways in which organizational trust-building can be enhanced by identifying effective methods of gathering and sharing information related to occupational exposure to air contaminants at Spectro Alloys Corporation. Based on employee feedback and past air sampling data, the two major air contaminants at Spectro Alloys are hydrogen chloride and aluminum dust. For this study, the health hazards associated with aluminum and hydrogen chloride were researched. Additionally, the value of trust in organizations, and methods of health hazard communication were described.
Air sampling performed at processes associated with high levels of air contaminants showed results to be acceptable compared to OSHA’s Permissible Exposure Limits. The information was shared with employees, supervisors and management for the purpose of pre-testing material, soliciting feedback and gaining participation in the process from all levels of Spectro employees. The information sharing sessions concentrated on the material, its health hazards, signs and symptoms of exposure, permissible exposure limits, concentrations found at Spectro, and controls associated with reducing employee exposure to the contaminants studied.
Methods of gathering and sharing information included personal communication, literature reviews, air sampling and the creation of materials with which to share the air contaminant information in an effective manner. Informal feedback from employees showed that trust, which is based on the relationship between the source and the recipient of the message, will take time to build Spectro Alloys. Effective information sharing methods, combined with air sampling data gives Spectro Alloys management an opportunity to begin trust-building and create a more favorable relationship with its employees
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