title: Entrepreneurship and Debt: Growth Aversion, Debt Aversion, Overconfidence, and the Effects on Small Business Credit Decisions

authors: Bell, Kendon

subjects: Entrepreneurship

abstract: Widespread empirical consistency with the pecking order theory of capital structure (Myers & Majluf, 1984) has led researchers to conclude that small and medium sized enterprises conform to this theory’s predictions. In chapter 2, a formal model is presented that allows for plausible and empirically supported psychological owner/manager objectives in addition to the profit motive. This chapter provides an alternative explanation of preferences for low leverage that does not rely on informational asymmetry, as well as predicting limits on firm sizes, and the existence of collateral.

In chapter 3, a formal model of the entrepreneurship decision with credit is presented for firms with managers who overestimate their probability of success. Explanations for credit rationing, predatory lending, and the existence of collateral are produced and the welfare implications of overconfidence are investigated in an equilibrium model. It is found that overconfidence can increase overall welfare but harms entrepreneurs who are able to engage in poor projects.

text: Entrepreneurship and Debt: Growth Aversion, Debt Aversion, Overconfidence, and the Effects on Small Business Credit Decisions Widespread empirical consistency with the pecking order theory of capital structure (Myers & Majluf, 1984) has led researchers to conclude that small and medium sized enterprises conform to this theory’s predictions. In chapter 2, a formal model is presented that allows for plausible and empirically supported psychological owner/manager objectives in addition to the profit motive. This chapter provides an alternative explanation of preferences for low leverage that does not rely on informational asymmetry, as well as predicting limits on firm sizes, and the existence of collateral.

In chapter 3, a formal model of the entrepreneurship decision with credit is presented for firms with managers who overestimate their probability of success. Explanations for credit rationing, predatory lending, and the existence of collateral are produced and the welfare implications of overconfidence are investigated in an equilibrium model. It is found that overconfidence can increase overall welfare but harms entrepreneurs who are able to engage in poor projects.

year: 2012

title: Christianity and interfaith engagement

authors: Pratt, Douglas

subjects: religion

abstract: Early in the twentieth century the Christian Church began to question long-held exclusivist and negative assumptions toward other religions. By mid-century far-reaching changes were underway: other religions and their peoples were honoured as dialogue-partners and viewed as co-religionists capable of common cause action. Since the 1960s the official stance of the Vatican is one of goodwill, high valuation, and respect toward other faiths. Christian perspectives on religious diversity changed from vexed problem to celebrated phenomenon. However, the global resurgence of religion and allied ideologies such as fundamentalism provide new challenges to the age-old question of Christianity and other faiths.

text: Christianity and interfaith engagement Early in the twentieth century the Christian Church began to question long-held exclusivist and negative assumptions toward other religions. By mid-century far-reaching changes were underway: other religions and their peoples were honoured as dialogue-partners and viewed as co-religionists capable of common cause action. Since the 1960s the official stance of the Vatican is one of goodwill, high valuation, and respect toward other faiths. Christian perspectives on religious diversity changed from vexed problem to celebrated phenomenon. However, the global resurgence of religion and allied ideologies such as fundamentalism provide new challenges to the age-old question of Christianity and other faiths.

year: 2008

title: Ko ngā whakahokinga kōrero a te hunga uiui i roto i te akomanga rumaki i te Whare Wānanga o Waikato: He pūrongo mō ngā ui pātai

authors: Nock, Sophie

subjects: Reo Māori

abstract: Ko te whāinga matua o tēnei rangahau he whakakaokao, he wetewete āno hoki i ngā whakahokinga kōrero a te hunga uiui i kake atu ai ki runga i te waka o Te Tohu Paetahi i te tau 2008, i raro i te kōawa o Rehutai, i raro anō hoki i te maru o Te Whare Wānanga o Waikato. Ka aro atu ki ngā urupare a te hunga tekau mā ono mō te kaupapa nei o Te Tohu Paetahi, ka mutu, ka matapakihia ngā kōrero me ngā whakaaro o taua hunga kia āta kitea ai, āe rānei e tika ana te whakahaere, te mahi whakaako i te reo, te tautoko mai hoki a ngā kaiwhakaako me te kura. I te mutunga iho tautoko katoa te hunga uiui ki aua mea katoa.

text: Ko ngā whakahokinga kōrero a te hunga uiui i roto i te akomanga rumaki i te Whare Wānanga o Waikato: He pūrongo mō ngā ui pātai Ko te whāinga matua o tēnei rangahau he whakakaokao, he wetewete āno hoki i ngā whakahokinga kōrero a te hunga uiui i kake atu ai ki runga i te waka o Te Tohu Paetahi i te tau 2008, i raro i te kōawa o Rehutai, i raro anō hoki i te maru o Te Whare Wānanga o Waikato. Ka aro atu ki ngā urupare a te hunga tekau mā ono mō te kaupapa nei o Te Tohu Paetahi, ka mutu, ka matapakihia ngā kōrero me ngā whakaaro o taua hunga kia āta kitea ai, āe rānei e tika ana te whakahaere, te mahi whakaako i te reo, te tautoko mai hoki a ngā kaiwhakaako me te kura. I te mutunga iho tautoko katoa te hunga uiui ki aua mea katoa.

year: 2017