Advertising Expenditures, Amortization, Intangible assets, Future returns

Auditing, Sampling, Upper error limits, Dollar-Value sampling

The State of Maine recently imposed an additional regulation on the maturity of small loans offered by finance companies, presumably to protect the consumer. The effectively restricted the maturity of these high interest rate loans to 36 months. Within five years, the number of licensees (finance company offices) declined from 116 to 24. Within another five years, all of these lenders had completely ceased operations. Hypotheses on the effect and value to consumers of the regulation are stated operationally and tested empirically. This study includes estimation of the loan companies' cost function, (accounting) profit rates and output and a survey of the individuals directly affected by the demise of the companies. The analysis indicates (1) that the maturity restriction made ordinary operations unprofitable, (2) why this occurred, and (3) that half of the consumers did not obtain funds elsewhere.

Replacement cost, Rule 3-17, Inventories, Estimators of replacement costs

Journal Article Ideal Prices vs. Prices vs. Quantities Get access N. J. Ireland N. J. Ireland University of Warwick Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 44, Issue 1, February 1977, Pages 183–186, https://doi.org/10.2307/2296983 Published: 01 February 1977 Article history Received: 01 March 1975 Accepted: 01 February 1976 Published: 01 February 1977

Journal Article The Existence of Futures Markets, Noisy Rational Expectations and Informational Externalities Get access Sanford J. Grossman Sanford J. Grossman Stanford University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 44, Issue 3, October 1977, Pages 431–449, https://doi.org/10.2307/2296900 Published: 01 October 1977 Article history Received: 01 April 1975 Accepted: 01 October 1976 Published: 01 October 1977

Sanford J. Grossman, Richard E. Kihlstrom, Leonard J. Mirman; A Bayesian Approach to the Production of Information and Learning By Doing, The Review of Economic

Allen J. Michel, Municipal Bond Ratings: A Discriminant Analysis Approach, The Journal of Financial and Quantitative Analysis, Vol. 12, No. 4, Proceedings of the 1977 Western Finance Association Meeting (Nov., 1977), pp. 587-598