SUSTAINABLE DEVELOPMENT MANAGEMENT AND TRANSFRORMATION OF PLANNED ECONOMY TO MARKET ECONOMY

In the article the main requirements for sustainable economic development management system were formed using theoretical approach. According to the collected theoretical material, approaches of sustainable management of economic systems from the viewpoint of principles of sustainability are reviewed. The article evaluates the content and issues related to the environmental indicators, including the environmental space and the ecological footprint concepts, applied in sustainability measurement, as well

PERSPECTIVES OF ECOLOGICAL AGRICULTURE IN LITHUANIA AS A FACTOR FOR SUSTAINABLE DEYELOPMENT

Sustainable agriculture synthesizes a variety of concepts associated with agricultural practices and their socio-economic impact. In general, it can be argued that sustainable agriculture must be ecologically sound, economically viable, and socially responsible [Ikerd, 1994], In this article some aspects of the development of sustainable agriculture in Lithuania are analysed within the framework of ecological economics. First, an outline of the problem is presented. Then the concept of sustainable development is shortly discussed. Finally, sustainable agriculture is discussed within the context of environmental economics and reąuirements for the development of sustainable agriculture in Lithuania are elaborated

The negative externalities of the electricity industry and sustainability

This article offers an estimation of negative externalities and possibilities of achieving sustainable development in the energy sector. The authors analyse the concept of negative externalities in the energy sector as well as their estimation and internalisation in terms of the principles of sustainable development and environmental economics

An Assessment of Impact of Income Inequality on Sustainable Economic Growth in the Context of Saving

Income inequality projects a different impact on economic growth as it can both stimulate and slow down economic growth. The stimulating effect of income inequality is revealed via saving. Specifically, wealthy social classes dispose the capability to save more and devote a larger portion of their saving to investments and technological developments. However, environmental and social perspectives shall be taken into consideration when aiming for a sustainable development. This paper considers the effects of income inequality on sustainable economic growth in the context of saving for the EU-25 countries during the period of 2005–2013. The empirical research of this study is done using open code software package Gretl and working with panel data. Based on the relationship between income inequality ratio, economic growth and GDP per capita, countries have been divided into 4 clusters. Empirical results support impact of reciprocal action among income inequality, savings, economic growth, spending on social security to domestic material consumption, renewable energy in gross final energy consumption, municipal waste generation, municipal waste recycling, ammonia and greenhouse gas emissions to be insignificant in all four country cluster groups. Reciprocal action among income inequality, savings, economic growth, and spending on social security was estimated to increase emission of sulfur dioxides and nitrogen oxides, but reduced the amount of gross domestic energy consumption. The reciprocal action is estimated to increase emission of nitrogen oxides in the country cluster groups with relatively low income level and different relationship between income and economic growth levels

ENVIRONMENTAL KUZNETS CURVES: ECONOMIC IMPLICATIONS

The results of empirical studies on Kuznets environmental curves are discussed in the article as well as economic implications of findings of these studies. The relationship of economic growth and environmental impact has spurred fierce debates between growth optimists referring to the phenomenon of the environmental Kuznets curve, and pessimists referring to the limits to growth. The article draws some hints from a critical assessment of the literature on the environmental Kuznets curve. In particular it is argued that the optimistic implications of this literature on the sustainability management are not granted. However, environmental Kuznets curves analysis allows clarification of a few basic conditions to achieve pollution reduction with economic growth. These conditions can be met by implementing a systematic and strict environmental policy strategy aimed at shifting Kuznets relations downward

The role of governance in realising the transition towards sustainable societies

It is widely known that governance is central to the successful implementation of sustainable development policies and measures. Yet, there is a paucity of research which explore the links between governance and sustainability. This paper attempts to address this research need by providing an analysis of the role of governance in enabling – and to some extent – fostering a transition towards sustainable societies. A set of indicators for assessing the capacity for and willingness and commitment to transition to a more sustainable society is presented, enabling identification of direction of change. This paper presents the results of a study, in the context of which sustainability governance has been comparatively investigated in a sample of European countries with, by methodological purpose, very different economic, environmental, political and social conditions (Denmark, Finland, Germany, Latvia, Lithuania and Poland). Lessons learnt and examples of good practice – which may be replicable elsewhere-are outlined. For instance, it is discussed that limited knowledge about sustainable development amongst municipal development planners and decision-makers, deficiencies in policy integration, intersectoral cooperation, municipality and stakeholder cooperation and urban management practices are major reasons for weak governance practices in sustainable development. Furthermore, some recommendations on the role of sustainability governance are made, so as to allow the integration of the principles of governance into sustainability practice and hence provide a more general basis upon which a transition towards sustainable societies may become a reality in different types of European countries and societies. The scientific value of this paper lies in identifying opportunities for integrating principles of governance into sustainability practice, as well as outlining the basis for sustainability transitions, providing a general picture of required policy measures. The paper offers a unique comparative analysis of sustainability governance in the Baltic Sea countries, outlining some of the challenges in sustainability governance in the Baltic Sea region

PERSPECTIVES OF ECOLOGICAL AGRICULTURE IN LITHUANIA AS A FACTOR FOR SUSTAINABLE DEYELOPMENT

Sustainable agriculture synthesizes a variety of concepts associated with agricultural practices and their socio-economic impact. In general, it can be argued that sustainable agriculture must be ecologically sound, economically viable, and socially responsible [Ikerd, 1994], In this article some aspects of the development of sustainable agriculture in Lithuania are analysed within the framework of ecological economics. First, an outline of the problem is presented. Then the concept of sustainable development is shortly discussed. Finally, sustainable agriculture is discussed within the context of environmental economics and reąuirements for the development of sustainable agriculture in Lithuania are elaborated

Otricatel'nye vneshnie jeffekty i ustojchivoe razvitie v sfere jenergetiki [Negative externalities and sustainability of energy sector]

The article evaluates negative externalities of the electricity industry and possibilities for the sustainable development. The concept of negative externalities of the electricity industry and evaluation and internalization of the negative externalities are reviewed from the viewpoint of principles of environmental economics and sustainable development

DEVELOPMENTS AND CHALLENGES OF MEASURING M&A PERFORMANCE ON A CORPORATE AND MACROECONOMIC LEVELS

Research background: This study presents the results of the research which aimed to identify and critically discuss existing methodologies in the merger and acquisition field. Value creation to merging and acquiring firms and national countries constitute the center of the research. This study distinguishes between specific methodologies employed to gauge M&A performance on a micro- (corporate) and macro- (economy and society) economic levels. The final section of the paper concludes with a theoretical methodological framework integrating methodologies employed to measure M&A performance on a firm level and methodologies measuring consequences and effects of M&A on the economy. The aim of the analysis described in the paper is to ascertain and evaluate theoretically existing methodologies used in empirical studies that would allow proper and critical understanding of the results of various findings in the holistic and global M&A area. Purpose of the article: The purpose of the paper is to investigate and critically discuss the methodologies employed within the M&A performance framework with the focus on specific anticipated outcomes of the M&A deal and methodology measuring this outcome. The following objectives are being raised: (1) To identify recent developments in the M&A market and determine challenges and changes they encompass. (2) To identify and critically discuss anticipated outcomes of the M&A deal and existing methodologies measuring M&A performance on the corporate level; (3) To identify and critically discuss anticipated outcomes of the M&A deal on the economy and methodologies measuring consequences and effects of M&As on the macro- economic level; (4) To integrate methodologies measuring M&As performance on a micro- and macro- economic levels into theoretical methodological framework enabling scholars and practitioners to evaluate M&A performance from a holistic perspective. Methods: Based on previous studies, the authors conduct a structured literature review aimed to critically discuss and evaluate developments and challenges of measuring M&A performance on corporate and macroeconomic levels. The research is carried out as a structured assessment of past literature. The findings from scientific articles and studies by various scholars are being categorized, grouped and summarized to discern a meta‐analytic view of the work carried out to date. Finally, deep analysis of scientific literature, logical comparative analysis, systematization of scientific article and business cases are employed in the article. Findings & Value added: The paper evidences developments and challenges of measuring M&A performance on corporate and macroeconomic levels. The re-search elaborates on several key developments in M&A methodology and performance studies carried out in empirical works during the last two decades. The findings help to independently and objectively assess performance of M&A from a holistic perspective