This essay is a contribution to the empirical literature on the effect of inflation tax on capital structure. A simple empirical model considering the main results of the current theoretical development is studied, using microdata from a number of American corporations.

Given the call for the development of an accounting conceptual framework, this paper rejects the need for such an undertaking. Using a historical methodology this paper traces the existence of an accounting conceptual framework that painstakingly has been established over the centuries. The...

Collective concerns about sustainable development and proposals about how to achieve sustainability have produced a confusing body of terminology that is more like a jungle of issues than a framework to enable focused action. Businesses, in particular, with their global reach, influence,...

Data Envelopment Analysis (DEA) is a linear programming based method for evaluating performance of comparable production units such as firms. Although the method is already extensively applied in many areas of economics, its use in environmental economics and related fields remains limited. The...

At the request of the Minister for Industry, Science and Resources, the Assistant Treasurer asked the Commission to undertake a research study examining the performance of commercial buildings and analyse any impediments to better performance of such buildings and how to overcome them. The study...

Previously published research suggested that the typical manager may be expected to harm others in his role as a manager. Further support for this was drawn from the Panalba role-playing case. None of the 57 control groups in this case were willing to remove a dangerous drug from the market. In...

A growing literature argues that the Information Technology rev- olution caused the stock market crash of 1973-1974, its subsequent stagnation and eventual recovery. This paper employs general equi- librium theory to test whether this good news hypothesis is consistent with the behavior of US...

Three issues regarding asset prices and monetary policy are clarified. First, increases in asset prices due to monetary expansion, despite their “paper” wealth nature, tend to make current consumers as a whole wealthier. Second, the weaker (stronger) effect of monetary policy on investment...

A person cannot make many decisions at a time, but an organization needs millions of interrelated decisions. We incorporate this idea into investment theory and examine its influence on a firm's growth rate. Two assumptions are emphasized: an agent cannot optimize more than one input at a time,...

It is common amonst macroeconomists to view aggregate investment fluctuations as a rational response to fluctuating incentives, driven by exogenous movements in total factor productivity. However, this approach raises a number of questions. Why treat investments in physical capital as...