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Crisis, Capital Controls and Covered Interest Parity: Evidence from China in Transformation
Chen, Jinzhao - HAL - 2012
This paper aims to investigate the intensity and the effectiveness of the capital controls in China from 2003 to 2010 …
Persistent link: https://www.econbiz.de/10010738729
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Are derivatives dangerous?
Capelle-Blancard, Gunther - HAL - 2010
Since the 1970s, the financial system has undergone deep structural changes. Innovation has been a key driver of these changes and most economists acknowledge that the impact has been positive overall. However, each time a financial crisis arises, the debate is on. Derivatives especially, which...
Persistent link: https://www.econbiz.de/10010605339
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The Environmental Violence of Volatility
Bouleau, Nicolas - HAL - 2013
Since the Brundtland report in 1987, at the start of the series of United Nations Conferences on the Environment and Development, the world population has grown by more than it was in the time of Adam Smith. Oil consumption has increased by 40% and the trend is similar for other exhaustible...
Persistent link: https://www.econbiz.de/10010739123
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Comparative Advantage and Uncertainty Bearing
Méra, Xavier - HAL - 2013
The law of association as espoused by David Ricardo and generalized by Ludwig von Mises cannot directly convey what is at stake in exchanges involving specialization in uncertainty bearing. In this article we explain why the entrepreneurial function as conceptualized by Frank Knight and Mises...
Persistent link: https://www.econbiz.de/10010674276
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Credit Default Swaps, Contract Theory, Public Debt, and Fiat Money Regimes: Comment on Polleit and Mariano
Méra, Xavier - HAL - 2013
correct in pointing out that speculation with CDS can conceivably hurt the borrowers' interests, they fail to grasp that this …
Persistent link: https://www.econbiz.de/10010820940
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A discussion of stock market speculation by Pierre-Joseph Proudhon
Juhel, Jean-Claude; Dufour, Dominique - HAL - 2008
-Joseph Proudhon (1809-1865) in relation to the causes and effects of Stock market speculation. It is based upon the works of this …'s thought in relation to speculation. It is divided into two parts. The first part is dedicated to Pierre-Joseph Proudhon …'s definitions of stock market speculation or gambling with shares that for him served no purpose either from a human or economic …
Persistent link: https://www.econbiz.de/10008791994
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Disagreement-Based Trading and Speculation: Implications for Financial Regulation and Economic Theory
Biondi, Yuri - HAL - 2011
discusses the legal-economic framework of speculation and its recent transformation, making reference to the case of derivatives … model of trade (and speculation) based on disagreement, advocating further developments that take into account market …
Persistent link: https://www.econbiz.de/10008835378
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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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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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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