French Abstract:Cet article propose trois modèles de prévision de la détresse financière basés sur les réseaux de neurones et les algorithmes génétiques. La situation financière d'une entreprise est appréciée par les probabilités risque neutre de défaut déterminées par le modèle...

This study examines the association between different institutional investors’ ownership and earnings management practice using a neural networks approach. It investigates this relationship for a sample of 121 US firms. We examine also the effect of institutional ownership on the level of...

This paper examines the relation between the external financing cost and the choice of the investment timing. Contrary to Lyandres (2007), this paper not only takes in consideration the variation of the investment but also the variation of its payoff. Results show that firms don't present the...

This paper considers the optimal asset allocation strategy for bank with stochastic interest rates when there are three types of asset: Bank account, loans and securities. The asset allocation problem is to maximize the expected utility from terminal wealth of a bank's shareholders over a finite...

This paper considers the optimal asset allocation strategy for bank with stochastic interest rates when there are three types of asset: Bank account, loans and securities. The asset allocation problem is to maximize the expected utility from terminal wealth of a bank's shareholders over a finite...

This paper investigates the logical ties between investment, financing and dividends decisions, creating the coherence of these three strategic financial decisions of the firm. Basing on results of a questionnaire addressed to a number of financial managers of firms, a comparative survey between...

This paper applies the mean-variance portfolio optimization (PO) approach and the stochastic dominance (SD) test to examine preferences for international diversification<i> versus</i> domestic diversification from American investors’ viewpoints. Our PO results imply that the domestic diversification...

This paper applies the mean-variance portfolio optimization (PO) approach and the stochastic dominance (SD) test to examine preferences for international diversification versus domestic diversification from American investors' viewpoints. Our PO results imply that the domestic diversification...

The aim of this paper is to use copulas functions to capture the different structures of dependency when we deal with portfolios of dependent credit risks and a basket of credit derivatives. We first present the wellknown result for the pricing of default risk, when there is only one defaultable...

In a basket managed foreign exchange rate arrangement, the volatility of the domestic money should exhibit a particular pattern: (1) it is reduced due to the diversification effect by linking the domestic money to a portfolio of currencies and frequent interventions of policymakers, (2) it...