'Against all odds, the CDM has shown that market mechanisms for greenhouse gas reduction in developing countries can work. Nevertheless, as Paula Castro explains convincingly, the CDM is no "magic bullet". Advanced developing countries need to be "weaned off" the CDM in order to take up...

The paper investigates the moderating effect of patriarchal attitudes by country and year on the relationship between gender diversity on boards and firm performance. The international sample analyzed is composed of 1,103 listed firms from 18 European countries for the period of 2005-2019. Using...

Im Dezember 2015 wurde in Paris ein neues Klimaabkommen verabschiedet. Im Wesentlichen gelang es, die länger als 20 Jahre währende strikte Trennung zwischen entwickelten (Annex I) und Entwicklungsländern (non-Annex I) aufzubrechen. Gleichzeitig fand in Paris ein Paradigmenwechsel statt: von...

This paper analyzes differences in target leverage and speed of adjustment across three life cycle stages of European listed firms: introduction, growth and maturity. We determine that profitability and tangibility are the most stable determinants, whereas growth opportunities and size exhibit...

This article contributes to the literature by indicating how certain monetary policies impact the compensation incentives of US managers to adopt riskier business policies. Specifically, based on the agency problems between shareholders and managers and between shareholders and creditors, a...

Small island states have been able to obtain some remarkable achievements in the climate change negotiations by building a cohesive coalition, the Alliance of Small Island States (AOSIS). Its cohesion, however, has been affected by changes in the UNFCCC process. The increase both in the number...

Under the Kyoto Protocol, developing countries can voluntarily participate in climate change mitigation through the Clean Development Mechanism (CDM), in which industrialized countries, in order to meet their mitigation commitments, can buy emission reduction credits from projects in developing...

Discounting the value of emission credits has been proposed as a possible approach for addressing some of the shortcomings of the Clean Development Mechanism (CDM). It could be used to compensate for non-additional CDM projects; to increase the incentive for advanced developing countries to move...

Several studies have examined the determinants of training in developing countries but only few have paid attention to the potential importance of international standards such as ISO 9000 or ISO 14000 on the firm's training decision. This paper examines training determinants using recent...