In the present paper we analyse some of the preconditions for the emergence of democracy in Ancient Greece. For democracy to emerge in Ancient Greece a combination of several enabling factors proved decisive: the development of new military tactic, the phalanx, marked by the appearance of a new...

This article explains the level of economic freedom in Muslim countries through the theory of institutional path dependency. Islamic countries are generally not free and they have a poor record regarding property rights. To explain these realities we use the institutional history of Muslim...

This paper applies a property rights analysis to examine what optimal audit fee compensation schedule is required by foreign based firms in order to produce internationally-credible generally accepted accounting principles (GAAP) that are acceptable to the Securities and Exchange Commission...