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Leasing Puzzle in Polish Small Firms Listed on the Alternative Market

leverage”. The Journal of Finance 28(4): 911–922. 10.1111/j.1540-6261.1973.tb01415.x Kraus Alan Robert H. Litzenberger. 1973 “A state-preference model of optimal financial leverage” The Journal of Finance 28 4 911 922 [26] Landry, Suzanne, Anne Fortin and Antonello Callimaci. 2013. “Family firms and the lease decision”. Journal of Family Business Strategy 4(3): 176–187. 10.1016/j.jfbs.2013.03.003 Landry Suzanne, Anne Fortin Antonello Callimaci. 2013 “Family firms and the lease decision” Journal of Family Business Strategy 4 3

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Economics of Artificial Intelligence: Implications for the Future of Work

, eroding the incentives for producers to move their activities from developed to developing countries. Offshoring, re-shoring, and robotization are part of a general rethinking of business strategies that have become more complex and based on a wider set of variables than simple cost comparisons ( De Backer et al., 2016 ). On the one hand, the need to face different types of risk and to deal with increased volatility in demand, exchange rates, or commodity prices has shaped outsourcing decisions. These and other issues might have pushed several companies to shore the

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Bank Business Models and Performance During Crisis in Central and Eastern Europe


This paper investigates the impact of business models on bank performance during the period 2007-2008 among 156 banks from Central and Eastern European countries. The findings show that banks with higher capitalization perform better and present a lower probability of default. The orientation towards the traditional lending activities as well as a higher degree of income diversification boosts performance. Using a Difference-in-Difference framework we also highlight the importance of bank business strategies for bank performance across different bank characteristics (ownership, size) and macroeconomic conditions (financial crisis, EU membership status, regulatory framework.

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Application of Artificial Intelligence in Investment Banks

References 1. Attaran, M. (2004). Exploring the relationship between information technology and business process reengineering %J Inf. Manage. 41(5), 585-596. doi: 10.1016/s0378-7206(03)00098-3 2. Brynjolfsson, E., & Hitt, L. M. (2000). Beyond Computation: Information Technology, Organizational Transformation and Business Performance. Journal of Economic Perspectives, 14(4), 23-48. 3. Chester, A. N. (1994). Aligning Technology with Business Strategy. Research- Technology Management, 37(1), 25-32. doi: 10

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Provision of Loans as a Strategic Choice of an Enterprise

Money to Other Firms? Economics and Business Review, 3 (4), 87-110. Białek-Jaworska A. (2018). Uwarunkowania, mechanizmy i efekty udzielania pożyczek przez przedsiębiorstwa niefinansowe . Warszawa: CeDeWu. Blasio, G.D. (2005). Does Trade Credit Substitute Bank Credit? Evidence from Firm-level Data. Economic notes, 34 (1), 85-112. Brandenburger, A.M., Stuart, H.W.Jr. (1996). Value-based Business Strategy. Journal of Economics & Management Strategy, 5 (1), 5-24. Buchuk, D., Larrain, B., Muñoz, F., Urzúa, F. (2014). The Internal Capital

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Terminal Value Calculation in DCF Valuation Models: An Empirical Verification

Valuation, Excessive Assets and Hidden Inefficiencies. Contemporary Economics, 4 , 44–57. O’Brien, T. (2003). A simple and flexible DCF valuation formula. Journal of Applied Finance, 13 (2), 54–62. Pisano, G. (2015). A Normative Theory of Dynamic Capabilities: Connecting Strategy, Know-How, and Competition , Working Paper (No. 16-036). Porter, M. (1980). Competitive Strategy . New York: Free Press. Shapiro, C. (1989). The Theory of Business Strategy. RAND Journal of Economics, 20 (1), 135–137. Teece, D., Pisano, G., Shuen, A. (1997

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Strategic Management, a Frill or a Need – An Empirical Study of Albanian and Macedonian Businesses

Danis, W. M., 2006. Business strategy types and innovative practices. Journal of Managerial Issues, XVIII(2), 274-291. Chandler, A. D., 1962. Strategy and Structure: Chapters in the History of the Industrial Enterprise. Cambridge, MA: MIT Press. Chehade, G., Mendes, D., and Mitchell, D. M. L. F., ed., 2006. Culture change for analytical mind, Strategic Finance (M. L. Frigo Ed.). Dye, R., and Sibony, O., 2007. How to Improve Strategic Planning. McKinsey Quarterly. Feige, E. L., 2002. Dollarization and the

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Ownership and Control in Large Eastern European Companies

of Economic Forecasting, XVII(3), 51-71. Wagner, D., Block, J. H., Miller, D., Schwens, C., and Xi, G., 2015. A meta-analysis of the financial performance of family firms: Another attempt. Journal of Family Business Strategy, 6(1), 3-13. DOI: Wang, K., and Shailer, G., 2015. Ownership concentration and firm performance in emerging markets: A meta-analysis. Journal of Economic Surveys, 29(2), 199-229. DOI:

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Evaluating the Performance of Socially Responsible Investment Funds

. Determinants of Corporate Social Responsibility Disclosure: An Application of the Stakeholder Theory. Accounting Organisations and Society, 17 (6), 596. Schaltegger, S., and Wagner, M., 2010. Sustainable entrepreneurship and sustainability innovation: categories and interactions. Business Strategy and the Environment, 20 . doi: Sharpe, W. F., 1963. A Simplified Model for Portfolio Analysis. Management Science, 9 (2), 277-293. doi: Statman, M., and Glushkov, D., 2009. The Wages of

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The Importance of Intangible Assets in the Hotel Industry: The Case of Croatia and Slovenia

: Management, Measurement and Reporting . Washington, D.C.: Brookings Institution Press. Lev, B., and Daum, J. H., 2004. The dominance of intangible assets: Consequences for enterprise management and corporate reporting. Measuring Business Excellence, 8 (1), 6-17. doi: Marr, B., 2007. Measuring and managing intangible value drivers. Business Strategy Series, 8 (3), 172-178. doi: Ministry of Tourism Republic of Croatia, 2017. Croatian National Bank: Tourism in 2016

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