Under condition of proved by us insolvency of well-known classical trade off theory it becomes important to identify mechanisms for forming the optimal capital structure of a company. This paper presents one of the real such mechanisms based on the decrease of debt cost with leverage, which is...

We study the household portfolio allocation in an economy with a history of nominal anchor volatility. Applying smooth ambiguity preferences to a static portfolio choice problem, we rationalize two facts about the Argentine experience of the last 20 years: the dollarization of household...

The main objective of this paper is to identify cultural aspects of sustainable development, by examining the interdependence of selected cultural characteristics and the index of sustainable development. Accordingly, the hypothesis of this article is that: Sustainable development achieves...

Today, there are a lot of studies on climate change and sustainability from social sciences' perspectives. Achievements of sociology, psychology or political sciences can be extremely helpful in designing, adopting, implementing and evaluating of effective climate and sustainability policy....

The present work adds to the existing literature the analysis of the determinants of environmental taxation in European economies. Using a pooled panel data, we consider various groups of factors influencing environmental taxation referring to production and consumption, environmental...

Theories of the economic evolution of societies and their diversity are critically examined, paying particular attention to the evolution of hunter-gatherer societies. An interdisciplinary approach drawing on anthropology and economics is adopted. Currently, three main stereotypes of the nature...

In this paper, the relation between the equality of income distribution and sustainable development is discussed. This issue is elaborated using theories of justice of John Stuart Mill, John Roemer, John Rawls and Amartya Sen.

This paper is the second paper in a series of papers on Community Economic Development Strategic Framework for Poverty Alleviation in Local Government with particular attention to the Raymond Mhlaba Local Municipality (RMLM). The objective of this paper is twofold: (i) to examine the rationale...

While Indonesia has been experiencing relatively considerable and stable economic growth in the last decades, the country is prone to income disparity across regions due to uneven distribution of population, natural resources and the persistent impacts of centralized development imposed by the...

It is challenging for governments to transfer public spending into successful public programs and projects. Additionally, good governance of the public financial system is essential for economic and human development. The author suggested a model to evaluate the efficiency of public spending...