"... In PAGE 47: ... This pattern will have to be broken if success in the m- payment services is to be attained and the only way to do this is that the m-commerce service provides added value to the customer, and banks /credit card companies face an issue of internal competition between their alternative payment channels. It is known that cheque was already a competition to cash settlements in the old days, then electronic payments competed with cheques, as can be seen from Table56 , the cheques have decreased in use and the use of electronic payments has increased, and credit card competed all along hindered only by regulatory frameworks: the lesson learnt is that all payment methods survive, but each must find a competitive position with their advantages /disadvantages. In addition the consumer will have to be educated to start using the m-payment services.... ..."

"... In PAGE 30: ... Estimates of a probit model are consistent with the inferences that I have drawn from 24 Table5 : log sales has a negative effect on the probability of reporting cash in a probit model with year dummies, log sales, log wage, agriculture and its square as explanatory variables. Log wage has a statistically insignificant effect on the reporting probability, with a point estimate that is roughly one-eighth of the coefficient on log sales.... In PAGE 30: ...We see in Table5 that the average nonreporting firm has more sales (and slightly higher wages) than the average nonreporting firm. On a year-by-year basis, the average nonreporting firm is larger than the average reporting firm in 24 of 24 cross-sections (1969-92).... In PAGE 30: ... How sample selection biases OLS estimates of the sales elasticity depends on the magnitude of the relationship between sales and the selection rule. Since it appears from Table5 that the typical nonreporting firm has more sales, the quot;too small quot; hypothesis predicts that the true sales elasticity is smaller than those reported in Tables 1-4. The rejection of the unitary sales elasticity inferred from the OLS results cannot, according to the quot;too small quot; selection hypothesis, be attributed to this form of sample selection bias.... In PAGE 31: ... Thus, if this form of selection bias is to explain the deviation of my OLS estimates from unity, it is necessary that G27 lt; G07. However, G27 y y lt; G07 is inconsistent with Table5 which shows that non-reporting firms are larger. When the model (5) is estimated by maximizing the likelihood function separately for cross-sections at 5-year intervals 1970-90, the estimated sales and wage elasticities are quite similar to their OLS counterparts.... ..."

"... In PAGE 69: ...43 More 13.04 Source: Egerton/Tegemeo/MSU Rural Household Survey 2000 As shown in Table14 both the relative economic importance dairying in terms of contribution to household income and in terms of share of value of milk and non-milk cash incomes varies across income groups. For high-income households, dairy cash incomes are more likely to accrue from milk sales.... ..."

"... In PAGE 14: ...In the real world, small payments in particular are still generally made in cash. This is true for the US as well as for the EU (see Table5 ). In both regions we also see card payments gaining ground.... In PAGE 14: ... In both regions we also see card payments gaining ground. Table5 : Retail Payments: The Share of Cash and Non-cash Transactions % of Retail transactions Cash Non-cash U.S.... ..."

"... In PAGE 71: ...bove 18 percent. The risk factor based on the guarantee appears in Table 11. b. Capital-adequacy formulas and guarantees Three points from Table11 deserve discussion. First, mortgages on real estate and mortgages on motor vehicles receive the lowest risk weighting of all non-cash, non-government backed guarantees.... ..."

"... In PAGE 22: ...) We do not stress possible leverage-related explanations for our findings, because the multivariate findings (discussed in Section 5) control for leverage and are broadly similar, with a few exceptions noted there. Table2 reports how under- or over- valuation is related to the acquisition mode and means of payment. Mean values of B=P and V=P , and their differences between acquirer and target firms are reported across modes of acquisition and methods of payment.... In PAGE 22: ... Mean values of B=P and V=P , and their differences between acquirer and target firms are reported across modes of acquisition and methods of payment.24 In Table2 bidding firms on average tend to have lower values for B=P and V=P than target firms, indicating that bidders are overvalued relative to targets. The average B=P (V=P ) ratio for acquirers is 0.... In PAGE 22: ... 24Median values suggest similar inferences and are not reported. In addition, Table2 restricts the sample to observations where B=P and V=P are available for both bidder and target firms. 25Subsample analysis indicates that these findings apply only within the post-1990 period.... In PAGE 23: ...he 608 (321) tender offers, the bidder/target B=P (V=P ) differential is -0.114 (-0.021), highly significant for B=P , and insignificant for V=P . Table2 also indicates, consistent with an immediate corollary of Prediction 2.i, that the targets of cash offers are significantly more undervalued than the targets of stock offers; V=P = 0:833 for cash versus 0.... In PAGE 23: ... Finally, consistent with an immediate corollary of Prediction 3.i, Table2 indicates that stock bidders are on average more overvalued than cash bidders, using both B=P and V=P measures; V=P = 0:775 for cash versus 0.634 for stock (difference significant with t = 6:07).... ..."

"... In PAGE 22: ... And, third, the socialist legacy has left people with a feeling of entitlement to free or subsidized goods. A rapid adjustment of household energy and utility prices -- especially if combined with increases in other public sector prices, such as rent and transport -- would imply significant changes in the cost of living and in welfare ( Table7 ). Thus, changing public sector prices will likely result in large and unpopular distributional shifts if not properly managed.... In PAGE 22: ... Such shifts could upset the fragile democracies that are emerging in the transition countries. As shown in Table7 , utilities in the energy sector absorbed almost 10 percent of total household expenditures in Poland in 1993. If transport and communication are included this total reaches about 16 percent of household 14/ There is some data in the Household Budget Survey on the non-cash component of compensation but it is not reliable because, inter alia, pricing non-cash items is difficult.... In PAGE 52: ...Appendix Table7 : Welfare loss from a 120% price increase Category Heat Electricity Gas Energy Elasticity 0 -.5 -1 0 -.... ..."

"... In PAGE 22: ... And, third, the socialist legacy has left people with a feeling of entitlement to free or subsidized goods. A rapid adjustment of household energy and utility prices -- especially if combined with increases in other public sector prices, such as rent and transport -- would imply significant changes in the cost of living and in welfare ( Table7 ). Thus, changing public sector prices will likely result in large and unpopular distributional shifts if not properly managed.... In PAGE 22: ... Such shifts could upset the fragile democracies that are emerging in the transition countries. As shown in Table7 , utilities in the energy sector absorbed almost 10 percent of total household expenditures in Poland in 1993. If transport and communication are included this total reaches about 16 percent of household 14/ There is some data in the Household Budget Survey on the non-cash component of compensation but it is not reliable because, inter alia, pricing non-cash items is difficult.... In PAGE 23: ...2%. apos;5 Table7 : Poland - Transport, communication, and rent as percent of total expenditures quintile total energy transport and rent total utilities communication transport and rent I (poorest) 7.4 4.... ..."

"... In PAGE 18: ... Figure 4 shows that the Global/Macro style behaves like a straddle on the US Dollar. Lastly, we examined the correlation between the five hedge fund style factors and the 39 mutual fund styles in Table5 , to see if the hedge fund style factors correspond to any of the narrower asset classes used by mutual funds. The quot;Distressed quot; hedge fund style has a 54% correlation with high yield corporate bond mutual funds.... In PAGE 23: ... This type of option-like payout profile (similar to that of a quot;portfolio insurance quot; strategy) is generally not available from traditional managers. For example, consider Table5 under the column quot;Systems/Diversified. quot; This particular style underperformed seven of the eight non-cash asset classes during major rallies or extreme positive states.... ..."