This article provides empirical evidence on the zero-leverage phenomenon for a sample of European listed firms for the period 1995-2016. It is shown that there are two types of firms with zero leverage: the financially constrained firms that face obstacles in obtaining external finance, as...

Efficiency has long been an issue of concern in the electricity sector. Most existing studies relate technical efficiency in the electricity sector to policy or environmental factors. The impact of firm operation factors has rarely been discussed. We estimate Stochastic Frontier models using...

In many areas where water is not abundant, water pricing schedules contain significant nonlinearities. Existing pricing literature establishes that efficient schedules will depend on demand and supply characteristics. However, most empirical studies show that actual pricing schemes have little...

The tariffs applied in the Portuguese water industry are very complex, making their analysis difficult and hampering the objective of efficiency, acknowledged as an important tool in water management by Portuguese and European legislation. In this article we present the main criteria to be taken...

Demand and supply analysis in fisheries often indicates the presence of instabilities and multiple equilibria, both in open access conditions and in the socially optimal solution. The associated management problems are further intensified by uncertainty on the evolution of the resource stock or...

Demand and supply analysis in fisheries often indicates the presence of instabilities and multiple equilibria, both in open access conditions and in the socially optimal solution. The associated management problems are further intensified by uncertainty on the evolution of the resource stock or...

In many areas where water is not abundant, water pricing schedules contain significant nonlinearities. Existing pricing literature establishes that efficient schedules will depend on demand and supply characteristics. However, most empirical studies show that actual pricing schemes have little...

The tariffs applied in the Portuguese water industry are very complex, making their analysis difficult and hampering the objective of efficiency, acknowledged as an important tool in water management by Portuguese and European legislation. In this article we present the main criteria to be taken...

Models of economic growth are typically based on the use of one or more stocks of productive assets to create goods for utility-generating consumption. The roles played by man-made capital, natural capital and human capital have been explored, often separately, in the literature, and more...

Demand and supply analysis in fisheries often indicates the presence of instabilities and multiple equilibria, both in open access conditions and in the socially optimal solution. The associated management problems are further intensified by uncertainty on the evolution of the resource stock or...