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Herding in French stock markets: Empirical evidence from equity mutual funds

Arouri, Mohamed El Hedi; Bellando, Raphaëlle; … - HAL - 2013

Using the traditional herding measure of Lakonishok, Shleifer and Vishny (1992) (LSV) and the more recent measure of … Frey, Herbst and Walter (2007) (FHW), we assess herding by French equity mutual funds between 1999 and 2005. We show that … LSV herding amounts to 6.5%, while FHW herding is approximately 2.5 times stronger. We find that herding is stronger in …

Persistent link: https://www.econbiz.de/10010930102

Implied Risk Exposures

Benoit, Sylvain; Hurlin, Christophe; Pérignon, Christophe - HAL - 2013

We show how to reverse-engineer banks' risk disclosures, such as Value-at-Risk, to obtain an implied measure of their exposures to equity, interest rate, foreign exchange, and commodity risks. Factor Implied Risk Exposures (FIRE) are obtained by breaking down a change in risk disclosure into a...

Persistent link: https://www.econbiz.de/10010899552

Measuring herding intensity: a hard task

Bellando, Raphaëlle - HAL - 2010

This paper addresses the traditional Lakonishok, Shleifer and Vishny (LSV) herding measure and points out its lack of … formal explanation of this bias and propose a more appropriate measure of herding. We then turn to the properties of the new … propose a corrected version of their indicator. We also show that the real herding value is within an interval bounded by LSV …

Persistent link: https://www.econbiz.de/10008793516

Paisaje Del Desarrollo. La ecología de las tecnologías andinas

Alexander, Herrera; Alì, Maurizio - HAL - 2009

communities in the fields of agriculture, herding and agroforestry. …

Persistent link: https://www.econbiz.de/10010891259

Trade, conflicts and political integration : explaining the heterogeneity of regional trade agreements

Vicard, Vincent - HAL - 2008

This paper investigates the determinants of the shape of regional trade agreements (RTAs). Because the world is constituted by independent political entities, international trade flows take place in a system where property rights are unsecured and RTAs should be understood as regulation...

Persistent link: https://www.econbiz.de/10010750549

The U.S. economy today: between systemic crisis and permanent war

Herrera, Rémy - HAL - 2013

This paper studies the U.S. economy from an original point of view: that of the links existing between crisis and war … that are being implemented, as well as the "currency war" issue. Then, the central focus moves towards U.S. warfare as a … crisis and war exacerbe the current capitalist contradictions. …

Persistent link: https://www.econbiz.de/10010635044

Morts pour la France: do demographic factors alone explain the regional disparities of the great war?

Gilles, Henri; Guironnet, Jean-Pascal; Parent, Antoine - HAL - 2013

This article delivers the first comprehensive analysis of the new database, 'Mémoire des hommes', which gathers more than 1 Million French soldiers officially recognized as dead for France during WW1. Crossing this source with the 1911 census, we evaluate the potential numbers of recruits by...

Persistent link: https://www.econbiz.de/10010821186

Euro-Crisis and Spillover Effects on the Emerging Economies

Tabarraei, Hamidreza - HAL - 2014

I present some evidence showing that the advanced economies' banks were contributing in spreading the Euro-crisis to the emerging economies. For this purpose, I test the common lender channel among other channels of contagion, by using international banking flows data. Based on a constructed...

Persistent link: https://www.econbiz.de/10010751024

China's new energy vehicles: value and innovation

Kimble, Chris; Wang, Hua - HAL - 2013

Purpose The overarching theme is the importance of innovations that are created within the emerging economies. More specifically, the article looks at the development of various alternatives to vehicles powered by the internal combustion engine, new energy vehicles (NEVs) within China....

Persistent link: https://www.econbiz.de/10010898538

Domestic Debt Structures in Emerging Markets : New Empirical Evidence

Mehl, Arnaud; Reynaud, Julien - HAL - 2008

This paper explains why public domestic debt composition in emerging economies can be risky, namely in foreign currency, with a short maturity or indexed. It analyses empirically the determinants of these risk sources separately, developing a new large dataset compiled from national sources for...

Persistent link: https://www.econbiz.de/10010738563