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La structure du capital et la profitabilité : Une étude empirique sur données de panel françaises

Kebewar, Mazen - HAL - 2012

L'objectif de cet article est d'analyser l'impact de la structure du capital sur la profitabilité. Cet impact peut être expliqué par trois théories essentielles: la théorie du signal, l'influence de la fiscalité et la théorie de l'agence. Nous montrons, à partir d'un échantillon de 9136...

Persistent link: https://www.econbiz.de/10010618158

La structure du capital et la profitabilité : Une étude empirique sur données de panel françaises

Kebewar, Mazen - HAL - 2013

The objective of this article is to analyze the impact of capital structure on profitability. This impact can be explained by three essential theories: signaling theory, tax theory and the agency costs theory. From a sample of 9136 firms distributed on seven sectors taken over the period...

Persistent link: https://www.econbiz.de/10010821251

French firm's financing choices: towards a reconciliation of the static trade-off theory and the pecking order theory?

Mazen, Gharsalli - HAL - 2012

The main purpose of this study is to examine the validity of the static trade-off theory and the pecking order theory using a French panel data. Our empirical tests provide that we can not formally reject either of the two theories explaining financing behavior. However, they confirm the...

Persistent link: https://www.econbiz.de/10009148037

Risk in Islamic Banking

Abedifar, Pejman; Molyneux, Philip; Tarazi, Amine - HAL - 2012

lower credit risk than conventional banks. In terms of insolvency risk, small Islamic banks also appear more stable …This paper investigates risk and stability features of Islamic banking using a sample of 553 banks from 24 countries …

Persistent link: https://www.econbiz.de/10010899528

Bankruptcy: from moral order to economic efficiency.

Levratto, Nadine - HAL - 2007

, and prolongation of the activity of viable firms. This contribution examines the French insolvency law and its …

Persistent link: https://www.econbiz.de/10008789513

How Can Insurance Companies Compete With MutualInsurers? The Role of Commitment

Bourlès, Renaud - HAL - 2006

The aim of this paper is to analyze the impact of the existence of mutual firms on the behavior of insurance companies and more precisely to study in which situations an insurance company can enter a market controlled by mutual arrangements. Our approach differs from the existing literature as...

Persistent link: https://www.econbiz.de/10008794170

The CAPM versus the risk neutral pricing model

Pepin, Dominique - HAL - 2002

We compare the risk neutral pricing model with the CAPM when it is understood that both models are incorrect. We show …

Persistent link: https://www.econbiz.de/10010899378

A class of models satisfying a dynamical version of the CAPM

Jouini, Elyès; Napp, Clotilde - HAL - 2003

Under a comonotonicity assumption between aggregate dividends and the market portfolio, the CCAPM formula becomes more tractable and more easily testable. In this paper, we provide theoretical justifications for such an assumption.

Persistent link: https://www.econbiz.de/10008793270

Energy Risk Management with Carbon Assets

Chevallier, Julien - HAL - 2009

This article proposes a mean-variance optimization and portfolio frontier analysis of energy risk management with … the CAPM. These results reveal that carbon, gas, coal and bond assets share the best properties for composing an optimal … management, as the carbon market constitutes a segmented commodity market with specific risk factors linked to the EU Commission …

Persistent link: https://www.econbiz.de/10008793949

Think Global, invest responsible: why the private equity industry goes green

Crifo, Patricia; Forget, Vanina - HAL - 2012

shareholder activism and strategically driven by a need for new value creation sources, increased risk management and …

Persistent link: https://www.econbiz.de/10009650054