Massive layoffs announcements often attract extensive media coverage. Beyond the newsworthiness of such events, is such a decision in any way correlated to the company's stock market performance? Do some firms resort to massive layoffs simply to please shareholders? In this paper, we offer a...

Aujourd’hui, le débat électoral américain donne lieu à des propositions généreuses et attrayantes pour l’électorat : Georges W. Bush envisage des réductions d’impôts tandis qu’Al Gore voudrait augmenter les dépenses (éducation et couverture maladie). Sur quoi se base une telle...

This paper investigates the relative importance of different types of news in driving significant stock price changes of firms in the defense industry. We implement a systematic event study with a sample of the 58 largest publicly listed companies in the defense industry, over the time period...

This article offers a micro-macro-economic approach for the long term analysis of health care sector and health care policies. The medical supply behavior is built using a «working-time allocation choice» between various qualities of care ; this choice is connected to a decomposition of health...

This paper investigates the reason for corporate cash holdings. In the literature, there is a debate about the motives for these cash holdings (transaction cost theory or managerial opportunism thesis). To obtain new evidence, we focus on the consequences of excessive cash holdings on firm...

The aim of this paper is to re-examine the consequences of AIDS on economic growth inAfrica.The model is based on two crucial hypothesis: i) AIDS has a short-term impact on a flow variable (the flow of labour available and capable of working at a moment t in the economy); ii) AIDS has a...

This paper investigates the relative importance of different types of news in driving significant stock price changes of firms in the defense industry. We implement a systematic event study with a sample of the 58 largest publicly listed companies in the defense industry, over the time period...

This paper investigates the relative importance of different types of news in driving significant stock price changes of firms in the defense industry. We implement a systematic event study with a sample of the 58 largest publicly listed companies in the defense industry, over the time period...