The process of allocating financial resources is extremely complex-both because the selection of investments depends on multiple, and interrelated, variables, and constraints that limit the eligibility domain of the solutions, and because the feasibility of projects is influenced by risk factors. In this sense, it is essential to develop economic evaluations on a probabilistic basis. Nevertheless, for the civil engineering sector, the literature emphasizes the centrality of risk management, in order to establish interventions for risk mitigation. On the other hand, few methodologies are available to systematically compare ante and post mitigation design risk, along with the verification of the economic convenience of these actions. The aim of the paper is to demonstrate how these limits can be at least partially overcome by integrating, in the traditional Cost-Benefit Analysis schemes, the As Low as Reasonably Practicable (ALARP) logic. According to it, the risk is tolerable only if it is impossible to reduce it further or if the costs to mitigate it are disproportionate to the benefits obtainable. The research outlines the phases of an innovative protocol for managing investment risks. On the basis of a case study dealing with a project for the recovery and transformation of an ancient medieval village into a widespread-hotel, the novelty of the model consists of the characterization of acceptability and tolerability thresholds of the investment risk, as well as its ability to guarantee the triangular balance between risks, costs and benefits deriving from mitigation options.

This paper summarizes the arguments and counterarguments within the scientific discussion on the issue of the environmental impact of trade liberalization in the business ethics perspective. The main purpose of the research is to estimate different effects of trade on environment performance, namely the scale effect, technique effect, and trade-induced composition effects. Systematization literary sources and approaches for solving the problem of trade and environment indicate that they ignored country-specific factors and different economic development stages. The relevance of the decision of this scientific problem is that the research will provide profound insights on the impact of freer trade on the environment. Investigation of trade and environment performance in this paper is carried out in the following logical sequence: literature review, model specification, empirical estimation, and discussion. Methodological tools of the research are panel regression of data at the provincial level over the time period from 1997 to 2008. The object of research is China because China has experiences of fast development in trade. The paper presents the results of an empirical analysis by panel regression techniques for the estimation, which shows that trade itself has significantly positive effects on the environment. The research empirically confirms and theoretically proves that the impacts of trade liberalization on environment performance differ from pollutant to pollutant, and it rather depends upon the specific indicator in question. The results of the research can be useful for a number of policy implications for China as well as other developing economies in terms of business ethics. Keywords: trade liberalization, China, environmental quality, business ethics.

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In the 20th century, discrimination in the progress rate of people's living standard in different regions of the world remains. The ratio of poverty has been dropped significantly in developing countries during the last two decades, but the improvement has been nevertheless unequal (the annual statistics of the World Bank reports). Since 1981 to 2001, a fall from 1.5 billion to 1.1 billion of a number of people living under poverty has been recorded. Yet many developing and less developed economies are caught in circumstances leading to neverending poverty. For instance, Sub-Saharan Africa has witnessed an increase in poverty with numbers growing from 41 percent to 46 percent in the same time span (1981-2001). At the same time as in Eastern Europe and Central Asia, poverty rose about 20 percent in 2001. For that reason, poverty reduction spread at a large scale is the most demanding target for developing countries with low-income. After reviewing the related literature, it has been witnessed that the available empirical evidence so far does not specify an obvious increase in the worldwide economic inequality. There is a slight uncertainty in the belief that in terms of income per capita the gap among the richest and poorest economies has been amplified. However, this does not essentially mean worsening of income distribution between countries or the world's population. Actually, there is no concurrence among economists so far that income distribution is deteriorated in a large number of economies in the recent past. Therefore, no simple outcome can be derived regarding income distribution trends in general from observing different countries situations. There are a small number of empirical studies that tried to build compound indicators for economic inequality at the global level. However, this does not construct definite evidence of increasing inequality. To sum up, the available empirical literature on trends in the global economic inequality is still insufficient and inconclusive. This research study considers the role of income inequality, trade openness and GDP per capita in enhancing economic growth of Iran. The dissertation studies the changes in the global economic inequality and its relationship with Iran's economic growth.