Impression of the global climate change on the ornamental plant usage in Hungary

The climate modeling, which has adequate spatial and temporal resolution, shows that the future climate of the Carpathian Basin will be much more arid and hot than nowadays. The currently used and taught assortment of the ligneous ornamental plants should be urgently revised. It is aimed in my research to collect the species which will probably be introduced in the future. They can be gathered from the Hungarian botanical gardens and research centers and from the spatially analogous territories. The collected taxa should be examined with GIS software if they will really suffer our future climate.

Agency theory problems behind the fall of shopping centers

The present article assesses agency theory related problems contributing to the fall of shopping centers. The negative effects of the financial and economic downturn started in 2008 were accentuated in emerging markets like Romania. Several shopping centers were closed or sold through bankruptcy proceedings or forced execution. These failed shopping centers, 10 in number, were selected in order to assess agency theory problems contributing to the failure of shopping centers; as research method qualitative multiple cases-studies is used. Results suggest, that in all of the cases the risk adverse behavior of the External Investor- Principal, lead to risk sharing problems and subsequently to the fall of the shopping centers. In some of the cases Moral Hazard (lack of Developer-Agent’s know-how and experience) as well as Adverse Selection problems could be identified. The novelty of the topic for the shopping center industry and the empirical evidences confer a significant academic and practical value to the present article.