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Typology of stock market offenses in France: An analysis of sanctions by the AMF since 2006

Demerens, Frédéric; Najar, Dorra; Paré, Jean-Louis; … - HAL - 2013

This paper presents a study intended to demonstrate how the Financial Market Authority (AMF) in France uses its … industry during the period 2006-2011. The AMF actions are evaluated over time, by examining the evolution of the number and … their category and the status of those sanctioned strongly indicate that few firms and brokers are sanctioned by the AMF. In …

Persistent link: https://www.econbiz.de/10010775229

Gains de productivité et contrôle de la recherche d'emploi

Tanguy, Solenne - HAL - 2006

Cet article analyse l'efficacité d'un système de contrôle des refus d'offres d'emploi. Un tel système conduit les chômeurs à réduire leurs exigences salariales ce qui se traduit par une baisse des salaires et par suite du taux de chômage. Cet article montre qu'une hausse des allocations...

Persistent link: https://www.econbiz.de/10010750492

FRAUDE A L'INFORMATION COMPTABLE ET FINANCIERE : LE ROLE DES AUTORITES DE REGULATION

Djama, Constant - HAL - 2008

'information financière prononcées par l'Autorité des Marchés Financiers (AMF) et les juges. L'article est divisé en deux parties. Dans la … sanction, nous avons réalisé des études d'évènement à partir de 85 annonces d'informations financières ayant été sanctionnées … par l'AMF. Les résultats montrent que les réactions des investisseurs sont positives à l'annonce des informations …

Persistent link: https://www.econbiz.de/10008791976

Share repurchase regulations: do firms play by the rules?

Ginglinger, Edith; Hamon, Jacques - HAL - 2009

Open market share repurchases are strictly regulated to prevent companies from profiting from insider information. We examine compliance with these rules in France, where the mandatory disclosure of share repurchases provides detailed information on repurchases actually undertaken. Using a...

Persistent link: https://www.econbiz.de/10008790731

Quadratic hedging in an incomplete market derived by an influent informed investor

Eyraud-Loisel, Anne - HAL - 2009

In this paper a model with an influent and informed investor is presented. The studied problem is the point of view of a non informed agent hedging an option in this influenced and informed market. Her lack of information makes the market incomplete to the non informed agent. The obtained...

Persistent link: https://www.econbiz.de/10008793934

OPTION HEDGING BY AN INFLUENT INFORMED INVESTOR

Eyraud-Loisel, Anne - HAL - 2009

In this paper a model with an influent and informed investor is presented from a hedging point of view. The financial agent is supposed to possess an additional information, and is also supposed to influence the market prices. The problem is modeled by a forward-backward stochastic differential...

Persistent link: https://www.econbiz.de/10008794181

Insider Trading With Product Differentiation

Daher, Wassim; Aydilek, Harun; Karam, Fida; Aydilek, Asiye - HAL - 2012

In this paper, we analyze the effect of Cournot competition with differentiated products on the real and financial decisions of a publicly-owned firm, with three different structures in the financial market : monopoly, duopoly and Stackelberg. We shows that the degree of product differentiation...

Persistent link: https://www.econbiz.de/10010635062

Insider Trading in a Two-Tier real market structure model

Daher, Wassim; Karam, Fida - HAL - 2011

In this paper, we study the real and financial effects of insider trading in the spirit of Jain and Mirman (1999). Unlike the previous works that address this issue, we suppose that the production of the real good is costly and depends mainly of the price of an intermediate good produced locally...

Persistent link: https://www.econbiz.de/10010635105

Insider Trading with Different Market Structures

Daher, Wassim; Karam, Fida; Mirman, Leonard J. - HAL - 2011

We study an extension of Jain and Mirman (1999) with two insiders under three different market structures : (i) Cournot competition among the insiders, (ii) Stackelberg game between the insiders and (iii) monopoly in the real market and Stackelberg in the financial market. We show how the...

Persistent link: https://www.econbiz.de/10010635234

Missing trader fraud on the emissions market

Frunza, Marius-Cristian; Guegan, Dominique; Thiebaut, … - HAL - 2010

trader fraud on European carbon allowances markets. This fraud occurred mainly between the end of 2008 and the beginning of … 2009. In this paper, we explore the financial mechanisms of the fraud and the impact on the market behaviour as well as the …

Persistent link: https://www.econbiz.de/10010603689