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Affiliated and independent venture capitalists: early stages screening and the syndication / leverage trade-off
Nasica, Eric; Torre, Dominique - HAL - 2008
analyses comparatively the two technologies: both IVCs and AVCs take the asymmetric risk in seed and are backed by hedge funds … equity or banks at the second round. IVCs syndicate and AVCs use the internal ways of diversification of the bank. Screening … classes of risk but in other cases they compete on the same ones. The more astonishing observation is that one may observe …
Persistent link: https://www.econbiz.de/10008793553
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Assessing the Interaction between Real Estate and Equity in Households Portfolio Choice
Beaubrun-Diant, Kevin Elie; Maury, Tristan-Pierre - HAL - 2011
In this paper, we provide a new empirical analysis of the dynamic portfolio decisions of households by simultaneously considering their stock market participation and home tenure choices. There is already a huge body of literature on housing status (own/rent) decisions and many contributions...
Persistent link: https://www.econbiz.de/10009353873
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Does a banking relationship help a firm on the syndicated loans market in a time of financial crisis?
Alexandre, Herve; Bouaiss, Karima; Refait-Alexandre, … - HAL - 2010
The volume of credit granted in the form of syndicated loans saw a marked downturn in 2008. This article seeks to understand how certain firms were nonetheless able to benefit from larger facilities or a lower interest rate than others. Using a sample of syndicated loans issued in 2008 in North...
Persistent link: https://www.econbiz.de/10008793506
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Increase in Home Bias and the Eurozone Sovereign Debt Crisis
Cornand, Camille; Gandré, Pauline; Gimet, Céline - HAL - 2014
One of the most striking consequences of the recent episode of sovereign debt market stress in the Eurozone has been the increase in the share of public debt held by the domestic sector in fragile economies. First, we identify the shocks that explain most of the variation in this share in an...
Persistent link: https://www.econbiz.de/10010899479
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Globalisation des marchés de capitaux et valorisation des actifs financiers
Pepin, Dominique - HAL - 2000
Ce papier examine les effets de la libéralisation ou globalisation des marchés de capitaux sur les prix des actifs financiers. La comparaison des modèles de segmentation (douce) et d'intégration des marchés montre que la libéralisation des marchés a pour effet de favoriser la hausse des...
Persistent link: https://www.econbiz.de/10010821207
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BANCOS FUSIONADOS ¿MÁS EFICIENTES?
Ferro, Gustavo; León, Sonia; Romero, Carlos A. - HAL - 2014
Se miden las ganancias potenciales de eficiencia de cinco fusiones de bancos, producidas entre 2005 y 2011, analizándolas con la metodología de análisis envolvente de datos. Dadas las divergencias entre modelos de rendimientos constantes y variables, se testean rendimientos para discernir...
Persistent link: https://www.econbiz.de/10010930238
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The 2007-2008 financial crisis: Is there evidence of disaster myopia?
Cornand, Camille; Gimet, Céline - HAL - 2012
determinant variables in banks' risk taking since the beginning of the years 2000. … optimistic circumstances, investors disregard any relevant information concerning the increasing degree of risk. Agents …
Persistent link: https://www.econbiz.de/10009278316
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Comparing the value relevance of earnings and book value in IFRS and GAAP standards
Escaffre, Lionel; Sefsaf, Réda - HAL - 2011
sample of companies belonging to the financial sector, made up largely of banks. The sample is taken from several European …
Persistent link: https://www.econbiz.de/10010898605
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Quantifying and Explaining Implicit Public Guarantees for European Banks
Toader, Oana - HAL - 2014
. The investigation focuses on a sample of 45 large, listed European banks. It appears that the main element for determining … of guarantor strength on the value of the implicit guarantee: a higher sovereign rating of a bank‟s home country leads to …
Persistent link: https://www.econbiz.de/10010899778
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Financing economic activity: Schumpeter vs Keynes
Nasica, Eric - HAL - 2002
In this paper I compare Schumpeter's and Keynes' views on the financing of economic activity. As will be seen, both economists share common ideas about the working and financing of market economies. In particular, both Keynes and Schumpeter reject the classical notions of the neutrality of money...
Persistent link: https://www.econbiz.de/10008792147