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...

By 2050 about 70% of the world's population is expected to live in cities. Cities offer spatial economic advantages that boost agglomeration forces and innovation, fostering further concentration of economic activities. For historic reasons urban clustering occurs along coasts and rivers, which...