Our paper analyses the particular case of Enron as a quoted and transversal firm. In order to identify the real motivations of firm's actions, we present a brief insight on Enron's diversification decisions, as well as on firm's main core strategies. The company structurally spread itself to...

We start by making a brief introduction into the problematic of firms' decision on capital structure. We present a brief literature review on Capital Structure Theories. We hypothesize that firms in their choice of the level of debt are conditioned by complementary financial policy choices,...

Our work looks for empirical evidence for the theoretical work proposed in the past. We use cross-country data from 1960 to 2002 to validate those principles. More precisely, our objective is to quantify the extension of life expectancy improvement that can be explained by the ever increasing...

In this paper we discuss the European regulation policy regarding vertical separation in communications and electricity industries. In the electricity sector the discussion concerns ownership unbundling while in communications the regulatory debate is about functional separation. We conclude...

Seminal works on growth theory had mainly focused on exogenous technological change, where a certain given path of technological change was considered. At the end of the 1980s, a new growth theory emerged allowing for the endogeneity of technological change, where economic agents can affect the...

Given a panel of oil producing countries, we show that a higher oil concentration is associated with an increase in economic growth through capital efficiency in: (i) countries with medium and low income per head from East Asia & Pacific and Latin America & the Caribbean, classified as followers...

This study re-evaluates the impact of natural resources on growth using panel data and a factor-efficiency accounting framework. The resource-curse thesis is dismissed as capital efficiency is improved by geographically-concentrated natural resources, which hinder institutional quality in recent...

The existence of market power in the electricity market is a recurrent issue. Measuring and understanding market power practices in the Iberian electricity market turn out to be interesting: though a liberalized market, two integrated firms control 80% of total demand and there is a strong -...

The electricity spot markets can be considered as capacity constrained markets (Kreps and Scheinkman, 1983), where market price definition depends on the quantity strategies. In this theoretical framework, the main target of the present paper is to show to what extent a spot market organized...