Collateral - generally defined as an asset used to provide security for a lender's loan - is an important feature of credit contracts and all the available evidence suggests that its use is getting more pervasive. This informative book builds upon recent research into this topic. Sena analyses three case-studies that revolve around the impact that financial constraints have on economic outcomes. In the first case-study, the relationship between firms' technical efficiency and increasing financial pressure is explored. The author then goes on to show, in the second case study, that under specific circumstances, increasing financial pressure and increasing product market competition can jointly have a positive impact on firms' technical efficiency, while not being true for all types of firms. In the third case, she analyses the impact that finance constraints have on women's start-ups. Unique and revealing, this is the first book to deal so extensively with the topic of collateral, and as such, is a valuable reference to postgraduates and professionals in the fields of macroeconomics, monetary and business economics.

Collateral - generally defined as an asset used to provide security for a lender's loan - is an important feature of credit contracts and all the available evidence suggests that its use is getting more pervasive. This informative book builds upon recent research into this topic. Sena analyses three case-studies that revolve around the impact that financial constraints have on economic outcomes. In the first case-study, the relationship between firms' technical efficiency and increasing financial pressure is explored. The author then goes on to show, in the second case study, that under specific circumstances, increasing financial pressure and increasing product market competition can jointly have a positive impact on firms' technical efficiency, while not being true for all types of firms. In the third case, she analyses the impact that finance constraints have on women's start-ups. Unique and revealing, this is the first book to deal so extensively with the topic of collateral, and as such, is a valuable reference to postgraduates and professionals in the fields of macroeconomics, monetary and business economics.

A number of competing views are swirling around the literature concerning the impact of globalization on the ability of cooperatives to survive. This 10th volume of the Advances in the Economic Analysis of Participatory & Labor-Managed Firms series wants to understand some of these elements in the evolution of cooperatives in a world where globalization seems to be the driving force behind innovative forms of organization. In keeping with the main focus of the economics literature, the volume is focused on worker and producer cooperatives. This issue contains eleven papers and is organized into three parts: the first part collects empirical studies on producers cooperatives in Israel, Italy, Spain and Canada. The second part focuses on theoretical advances in the literature on cooperatives with the objective of understanding the conditions that explain co-ops longevity. Finally the third part documents the expansion into the global markets of the Mondragn Cooperative Corporation.
*Contains original research on cooperatives.
*Focuses on the impact of globalization on the cooperatives performance and survival.
*Contains a mix of empirical and theoretical research.

AI and Business Models summarizes the literature on AI and business model innovation. The main hypothesis is that the deployment of AI across an industry creates new mechanisms for value creation in an industry and in turn results in new firms generating value in an industry as incumbent firms may no longer be as competitive as in the past - the so called "value migration" phenomenon. Given the lack of data on AI, this monograph relies on qualitative studies as well as grey literature that underpins much of the research in the field. In this respect, a key purpose of the exercise is to identify where formal research is needed to help us to understand how business models change as the diffusion of AI across economies accelerates. Following an introduction, section 2 provides a brief introduction to AI and its different varieties. Section 3 focuses on value migration in an industry and business models. Section 4 provides a taxonomy of the new business models that have emerged as a result of AI and discusses the main features of these new business models. Section 5 analyzes the key factors that drive the emergence of new business models. Finally, Section 6 offers concluding remarks as well as reflections on existing gaps in our knowledge of business models that can inform future research in the field.