Population aging is believed to be a major factor behind the rise of health care cost worldwide. However, an increasing body of evidence in the literature on the subject of population aging and its influence on health care cost suggests that demographic changes play a relatively minor role in...

In this study we investigate determinants of parent-firm growth rates. Building on Penrose’s theory of the growth of the firm, we argue that factors that influence the availability of managerial services at the upper ranks influence the rate at which a firm is able to establish new...

The purpose of this study is to examine whether the Greek public debt will be sustainable up to 2020. To this end, we develop a debt sustainability model and carry out an empirical investigation based on a system of four equations for the period 1980-2009. By conducting a number of simulations,...

The objective of the present study is to examine the determinants of service sector growth such as external debt, population, gross domestic product per capita, foreign direct investment and government consumption and employed labour force in services. For this purpose the study employed...

This study investigates the investment decision and dividend policy jointly from a non-steady state to a steady state. We extend Higgins’ (1977, 1981, 2008) sustainable growth rate model and develop a dynamic model which jointly optimizes the growth rate and payout ratio. We optimize the firm...

For biofuel applications, increasing net lipid productivity from continuous flow microalgal cultures is critically important. Parameters that affect net lipid productivity include: cell lipid content, culture flow rate or hydraulic retention time, and biomass concentration. However, these...

This paper discusses the way in which the existence of foreign currency debt affects debt-sustainability analysis. We show that a devaluation of the local currency can significantly change the path of a sustainable fiscal policy. Our model expands previous research as the adjustment comes not...