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Capelle-Blancard, Gunther - HAL - 2010

arises, the debate is on. Derivatives especially, which are among the major innovations in the past thirty years, cause deep … concerns. In this paper, we propose a survey of the academic literature that has addressed the threats posed by derivatives. An … initial issue is the impact of derivatives on the volatility of the underlying assets, but empirical findings do not suggest …

Persistent link: https://www.econbiz.de/10010605339

The Collateral Risk of ETFs

Hurlin, Christophe; Iseli, Gregoire; Pérignon, Christophe - HAL - 2014

As most Exchange-Traded Funds (ETFs) engage in securities lending or are based on total return swaps, they expose their investors to counterparty risk. To mitigate the funds' exposure, their counterparties must pledge collateral. In this paper, we present a framework to study collateral risk and...

Persistent link: https://www.econbiz.de/10010899467

The role of location in headquarters-subsidiaries relationships: An analysis of French multinationals in emerging markets

Beddi, Hanane; Mayrhofer, Ulrike - HAL - 2010

This paper examines the role of location in the relationships established between headquarters and foreign subsidiaries. The analysis focuses on new challenges faced by MNEs from mature economies, considering the growing importance of subsidiaries located in emerging countries. The empirical...

Persistent link: https://www.econbiz.de/10010543492

Inflation Targeting, Exchange Rate and Financial Globalization

Tahir, Muhammad Naveed - HAL - 2011

In this paper we investigate the impact of financial globalization on the behaviour of inflation targeting emerging market economies with respect to exchange rate - do central banks respond to exchange rate movements or not. We use quarterly data for six emerging market inflation targeting...

Persistent link: https://www.econbiz.de/10009372685

Direct and indirect effects of FDI in emerging European markets : a survey and meta-analysis

Hanousek, Jan; Kočenda, Evžen; Maurel, Mathilde - HAL - 2010

We review a large body of literature dealing with the effects of Foreign Direct Investment (FDI) on economies during their transformation from a command economic system toward a market system. We report the results of a meta-analysis based on the literature on externalities from FDI. The studies...

Persistent link: https://www.econbiz.de/10010549129

Winning in Rural Emerging Markets

Ancarani, Fabio; Frels, Judy; Miller, Joanne; Saibene, … - HAL - 2014

In 2010, General Electric launched an investigation into how multi-national corporations (MNCs) were adapting to rural emerging markets. A team of 33 executives and three academics examined models ranging from Toyota's vehicle servicing program in East Africa to Nokia's localized mobile handset...

Persistent link: https://www.econbiz.de/10010899367

Revenue diversification in emerging market banks: implications for financial performance

Gamra, Saoussen Ben; Plihon, Dominique - HAL - 2011

Shaped by structural forces of change, banking in emerging markets has recently experienced a decline in its traditional activities, leading banks to diversify into new business strategies. This paper examines whether the observed shift into non-interest based activities improves financial...

Persistent link: https://www.econbiz.de/10011026120

Volatilité des chocs et degré de flexibilité du taux de change

Allegret, Jean-Pierre; Ayadi, Mohamed; Khouni, Leila … - HAL - 2007

During the 90s emerging markets have been hit by recurrent exchange rate crises. Almost all these countries shared a common characteristic: they adopted in previous years soft pegs, the so-called intermediate exchange rate regimes. International institutions and academic economists interpreted...

Persistent link: https://www.econbiz.de/10008790896

Capital Flows and their Impact on the Real Effective Exchange Rate

Combes, Jean-Louis; Plane, Patrick; Kinda, Tidiane - HAL - 2011

This paper analyzes the impact of capital inflows and the exchange rate regime on the real effective exchange rate. A wide range of developing countries (42 countries) is considered with estimation based on panel cointegration techniques. The results show that both public and private inflows...

Persistent link: https://www.econbiz.de/10008793645