The paper reviews and interprets capital structure theory in a stylized way and explains the conceptual issues, consequences, and implications for financial management. Firms face an uncertain world that does not co-operate with many of the assumptions of the theory. Specific attention is paid...

The purpose of this paper is to put into an appropriate theoretical frame the rural development issues in enlarging Europe and to analyse the rural development perspectives in the European Union (EU) accession countries. Based on comparisons of developments in the Common Agricultural Policy...

This paper reviews and interprets existing information and transaction costs theories of firm organization and entrepreneur’s role in order to provide a consistent explanation of the farm-sector dynamics in former communist countries. Important determinants of farm restructuring are economic...

There are important differences among former communist countries in performance of their agricultural sectors that are commonly attributed to variation in inherent institutions and reform policy choices. In this paper the link between institutions, reforms and (labour) productivity growth in...

There are large differences across transition countries with respect to agricultural-sector performance and corresponding scope of farm restructuring and shift to individual farming. In this paper we analyze the impact of individualization on productivity growth within an augmented neo-classical...

There are large differences across transition countries with respect to agricultural-sector performance and corresponding scope of farm restructuring and shift to individual farming. In this paper we analyze the impact of individualization on productivity growth within an augmented neo-classical...