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International accounting standardization : the institutional legitimacy of a private standards setters
Heem, Gregory - HAL - 2007
The objective of this paper is to analyse the sources of legitimacy of the producing organizations of accounting standards. Firstly, we examine the need for harmonisation of accounting standards in particular to maintain the confidence of investors and savers in the financial and economic...
Persistent link: https://www.econbiz.de/10010898794
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The Pure Logic of Accounting: A Critique of the Fair Value Revolution
Biondi, Yuri - HAL - 2011
When international accounting standards were renamed to become international financial reporting standards, this seemed to imply that accounting no longer needed to exist, but rather had to be reconsidered as a part of financial communication and advertising. Does traditional accountability no...
Persistent link: https://www.econbiz.de/10008835382
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Does fair value accounting provide a better representation of a company?
Casta, Jean-François - HAL - 2004
For a number of decades now, at the instigation of Anglo-Saxon standard setters, the basis of the traditional accounting model, or the financial conventions which determine how a company's wealth and income is measured, have been increasingly called into question. This wide-reaching movement,...
Persistent link: https://www.econbiz.de/10010898994
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Evaluating the law of one price using micro panel data
Gobillon, Laurent; Wolff, François Charles; … - HAL - 2013
This paper investigates spatial variations in product prices using an exhaustive micro dataset on fish transactions. The data record all transactions between vessels and wholesalers that occur on local fish markets in France during the year 2007. Spatial disparities in fish prices are sizable,...
Persistent link: https://www.econbiz.de/10010738756
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The anatomy of prices on the French fish market
Gobillon, Laurent; Wolff, François-Charles; … - HAL - 2013
Hedonic price regressions have become a standard tool to study how prices of commodity goods are related to quality attributes. In this paper, we extend the traditional price specification by incorporating three sources of unobserved heterogeneity related to sellers, buyers, and matches between...
Persistent link: https://www.econbiz.de/10010739032
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Hedging under an expected loss constraint with small transaction costs
Bouchard, Bruno; Moreau, Ludovic; Soner, Mete - HAL - 2013
We consider the problem of option hedging in a market with proportional transaction costs. Since super-replication is … very costly in such markets, we replace perfect hedging with an expected loss constraint. Asymptotic analysis for small …
Persistent link: https://www.econbiz.de/10010933872
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Window double barrier options
Guillaume, Tristan - HAL - 2003
also more exotic features such as combinations of single and double barriers. Price properties and hedging issues are …
Persistent link: https://www.econbiz.de/10010820456
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Dynamic hedging of portfolio credit derivatives
Cont, Rama; Kan, Yu Hang - HAL - 2011
We compare the performance of various hedging strategies for index collateralized debt obligation (CDO) tranches across … a variety of models and hedging methods during the recent credit crisis. Our empirical analysis shows evidence for …-dimensional bottom-up models perform better than simpler top-down models. When it comes to hedging, top-down and regression-based hedging …
Persistent link: https://www.econbiz.de/10008873568
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Disagreement-Based Trading and Speculation: Implications for Financial Regulation and Economic Theory
Biondi, Yuri - HAL - 2011
Lynn Stout's paper develops an insightful legal-economic analysis of speculative trading. From one hand, the paper discusses the legal-economic framework of speculation and its recent transformation, making reference to the case of derivatives markets crash (and related financial crisis) of...
Persistent link: https://www.econbiz.de/10008835378
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Les " affaires " et la mise en application des normes internationales, des défis et des opportunités pour l'enseignement de la comptabilité
Colasse, Bernard - HAL - 2005
Selon l'auteur, les " affaires " et la mise en application des normes internationales constituent à la fois un formidable défi et une formidable opportunité pour un enseignement de la comptabilité resté trop technique et trop révérencieux envers la normalisation. Il trace les voies d'une...
Persistent link: https://www.econbiz.de/10009651547