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Price Dynamics in a Markovian Limit Order Market
Cont, Rama; Larrard, Adrien De - HAL - 2013
We propose and study a simple stochastic model for the dynamics of a limit order book, in which arrivals of market order, limit orders and order cancellations are described in terms of a Markovian queueing system. Through its analytical tractability, the model allows to obtain analytical...
Persistent link: https://www.econbiz.de/10010631316
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Price Dynamics in a Markovian Limit Order Market
Cont, Rama; Larrard, Adrien De - HAL - 2010
We propose and study a simple stochastic model for the dynamics of a limit order book, in which arrivals of market order, limit orders and order cancellations are described in terms of a Markovian queueing system. Through its analytical tractability, the model allows to obtain analytical...
Persistent link: https://www.econbiz.de/10008794238
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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
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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
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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
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Innovation and Leapfrogging in the Chinese Automobile Industry: Examples from Geely, BYD and Shifeng
Wang, Hua; Kimble, Chris - HAL - 2013
History provides numerous examples of incumbent market leaders being leapfrogged by newcomers that have exploited the opportunities offered by new technologies. In light of the growing number of ecological threats linked to the use of the internal combustion engine, can Chinese auto...
Persistent link: https://www.econbiz.de/10010820814
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BASIC effect on global climate governance. Power changes and regime shifts
Berthaud, Pierre; Voituriez, Tancrède - HAL - 2013
the BASIC countries (Brazil, South Africa, India and China) in this indeterminacy. Mobilising the analytical tools of …
Persistent link: https://www.econbiz.de/10010820964
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China Apparel in Textiles World Values Chains
Ruffier, Jean - HAL - 2012
This paper analyses the expansion of China's clothing industry in world textile value chains. Using data from … interviews and observations throughout factory visits in China and other countries we show how private Guangdong entrepreneurs … started China's clothing manufacturing. Lacking experience in consumer markets and designing, original equipment manufacturing …
Persistent link: https://www.econbiz.de/10010820997
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Urbanisation in China: The impact of the tax-sharing system and the definitions of new strategies
Elosua, Miguel; Gipouloux, François; Goulard, Sébastien; … - HAL - 2013
has accelerated China's urbanisation. Other factors of this massive urbanisation include the improvement of transport … infrastructures and the transformation of China's industries. The reform of the tax system between central and local authorities in … introduces the possible strategies China may adopt for the development of its cities. The objective of these policies will be …
Persistent link: https://www.econbiz.de/10010821152
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Is participatory social learning a performance driver for Chinese smallholder farmers?
GUO, Huanxiu; Marchand, Sébastien - HAL - 2013
in a village of southwest China. By exploring a panel structure survey data collected in the village, we identify the …
Persistent link: https://www.econbiz.de/10010821192