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The purpose of this paper is to test whether underpricing can serve as a signal of quality in a financing-investment environment and to compare it under the two institutions for financing offers that are commonly observed in corporate financial markets: take-it-or-leave-it offer (TLO) and the competitive bidding offer (CBO).

The research paper uses experimental economics methodology and laboratory experiments to investigate the research question.

The results suggest that underpricing can serve as a signal of quality but not sustainable as a repeat strategy. Over time, the high-quality firms converge to a pooling strategy rather than bearing the cost of signaling. Additionally, underpricing is lower under CBO than under TLO institution due to competitive bidding. Signaling under CBO institution may be less salient due to possible mimicking by the low-quality firms.

This paper presents a first experimental investigation of the underpricing-signaling hypothesis in a financing-investment environment under asymmetric information. The choice of institution in a financing environment produces qualitatively and strategically different behavior among firms and investors.

To provide a selective review of most recent developments in experimental economics of banking and lending and to summarize and synthesize the experiment designs and results in banking under asymmetric information.

The review includes recently published or working papers (2006–2013) that exclusively employ experimental economics methodology, especially for studying the impact of formal or informal institutions on lending in credit markets.

The results of the reviewed experimental studies provide support for the important role of both informal (e.g., relationship banking and reputation) and formal (e.g., third-party enforcement; collateral) institutions and their impact on credit market performance, as well as the importance of studying the interaction of the two types of institutions.

The number of studies reviewed is fairly small but growing, indicating that this is the area of growing significance.

Controlled economic experiments are better able to address the questions regarding the direction of causality in empirical relationships. Economic experiments are particularly useful in studying complex markets like credit and capital and in eliciting specific effects of institutions on credit market performance. Such well-established empirical relationships will be able to provide guidance for policy making for financial market reform.

This is the first review of laboratory research in banking and lending under asymmetric information that aims to call attention to this area of research and serves as a starting point for an interested researcher and provide future direction.

To describe how a defined video reflection prompt for preservice mathematics teachers shaped their reflective writing, which was examined using academic reflection as a genre model.

Academic reflection as a genre model was used to unpack the reflective processes evident in preservice teachers’ written reflections on a practicum teaching experience in the context of a methods course assignment, prior to any formal instruction about reflective genre. This chapter examines how the quality of participants’ reflective writing corresponded with two promising products of reflection – the accuracy of participants’ claims about the effectiveness of instructional tasks used during teaching and the quality of suggested revisions to the lesson.

The findings indicate that the extent to which participants engaged with the required parts of the assignment corresponded with the accuracy of their claims about the effectiveness of instructional tasks and the quality of revisions they suggested to the lesson. The authors discuss the writing produced by the participants, providing examples from their reflections to demonstrate preservice teachers’ initial competencies in using genre.

Informed by the nature of writing produced by the participants, the authors extend the model of reflection as a genre and suggest how it could be used to teach preservice teachers to effectively structure reflective writing. Furthermore, the authors offer recommendations for how to define the video reflection prompt to serve as a more effective scaffold of preservice teachers’ analysis of student learning.

THE wealth of special and general libraries in Great Britain justifies the assertion that there are few serious inquiries which cannot be answered satisfactorily by one or other of them. In the field of fine arts Britain is especially strong and, although the majority of the great collections on this subject are concentrated in London, the existence of important art libraries—particularly on the subjects of textiles and ceramics—in the provinces must not be overlooked. Moreover, the sources of information on the fine arts comprise not only the special libraries and the appropriate departments of the university libraries but also the special departments of several great public libraries—such as the Hornby Collection at Liverpool—the private collections of experts such as the Raymond Mander and Joe Mitchenson Theatre Research Collection, and the information bureaux such as those maintained by trade organizations and by various foreign governments.

WHEN David Laing, sometime the learned librarian of the Library of the W.S., wrote that a very good social record of most countries possessing a romance literature of any fair extent could be written from their popular songs and ballads and historical tales, he made no very debatable postulate. He merely showed a greater appreciation of the value of romance literature than most people—even librarians—would on first thought consider it deserving of. But his opinion of its value as historical material was shared by no less eminent a literary scholar than Sir Walter Scott, who drew from the springs of romance when compiling his Tales of a Grandfather, and that this work did not suffer through Scott's utilization of romance literature in its compilation is proved by the fact that it is, despite its eighty years of existence, the most popular, as well as “the soundest thing” (to quote Saintsbury) that exists on the matter of Scottish history.

The purpose of this study is to examine trade credit from agrochemical vendors as an alternative source of finance for cabbage producers in the Bono East Region of Ghana. The determinants of trade credit supply and impact on cabbage producer’s profitability are investigated.

The study sample size is 260. The perception index, probit regression, negative binomial regression and the propensity score matching (PSM) was employed to assess the perception of trade credit, factors influencing trade credit supply and the impact of trade credit supply on the cabbage producer’s profitability and agrochemical vendor’s welfare respectively.

The perception index analysis revealed that the agrochemical vendors, in general, had a positive perception of trade credit. Different groups of factors influence trade credit supply. Further along, the number of times trade credit was used by the cabbage producers was influenced by several factors. On the PSM result, trade credit use had a significant positive impact on the cabbage producer’s profitability. In detail, all the matching estimations revealed that profitability increased above Gh¢ 4,000.00 (US$ 692.04). Likewise, the robustness check result (Inverse Probability Weighted Regression Adjustment (IPWRA)), was no different from the matching estimations. Generally, the result indicates that the impact of trade credit supply on the agrochemical vendor's welfare using total household expenditure, total savings and income as proxy variables for welfare were positive.

Trade credit has encountered less attention in the agricultural finance discourse; however, this study makes an imperative contribution on the same. Specifically, the study reveals the determinants of trade credit supply from agrochemical vendors and a positive impact of trade credit use on the cabbage producer’s profitability, a result which has not been investigated in the trade credit literature.