In the estimation of risk measures such as Value at Risk and Expected shortfall relatively short estimation windows are typically used rendering the estimation error a possibly non-negligible component. In this paper we build upon previous results for the Value at Risk and discuss how the...

In general, the properties of the conditional distribution of multiple period returns do not follow easily from the one-period data generating process. This renders computation of Value-at-Risk and Expected Shortfall for multiple period returns a non-trivial task. In this paper we consider some...

In this note it is argued that the estimation error in Value-at-Risk predictors gives rise to underestimation of portfolio risk. We propose a simple correction and find in an empirical illustration that it is economically relevant.

Ce manuel propose une synthèse pluridisciplinaire essentielle a l'appréhension du commerce électronique. La méthode adoptée consiste à envisager le commerce électronique comme un véritable projet managérial. L'accent est mis sur les entreprises associées aux échanges commerciaux en...

This article aims at challenging the relevance of some concepts typical of traditional retail activities for understanding electronic commerce. We try to demonstrate that geography still plays a role in building a competitive advantage over the Web, but that the notion of distance has changed...

Cet ouvrage traite du commerce électronique et est destiné aux étudiants mais aussi aux professionnels. Cette nouvelle édition entièrement revue comporte deux chapitres supplémentaires par rapport à la précédente édition et de nombreuses nouveautés

This paper develops a scale to measure consumer trust towards a web merchant. For this purpose, two studies were carried out. A total of 430 valid observations were used for the scale development. Exploratory and confirmatory factor analyses were performed to assess the psychometric properties...

This qualitative study is the first to confirm the validity of immersion as a relevant concept to capture the essence of online commercial experiences. Our study also highlights the specificities of immersive experiences engendered by virtual reality applications available on commercial web...