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Energy is an essential factor of economic development and energy issues thus pose a major challenge to a long term sustainability of economic development as well as energy security of national economies in terms of energy availability and affordability. Recent economic theories propose that the relationship between sustainable economic development, energy security and efficiency of energy consumption plays a prominent role in overcoming these challenges. This study examines energy intensity within the context of r...

Large syndicated debt contracts regularly include accounting-based performance pricing provisions that provide firms incentives to manage these measures around the pricing thresholds tied with the interest rate charged on a loan. To examine this inefficiency the study develops a theoretical model that formally analyzes trade-offs between the costs and benefits of discretionary reporting and employs methods of empirical analysis to test predictions of the model. Results of the study indicate that more careful desig...