The international asset pricing models are mostly developed in the case of parity failure (investors of different countries do not agree on the expected returns on securities). In this case, an equilibrium in the in- ternational asset markets may exist, but not in the international good markets....

The purpose of this paper is to analyze the gap risk of dynamic portfo- lio insurance strategies which generalize the "Constant Proportion Port- folio Insurance " (CPPI) method by allowing the multiple to vary. We illustrate our theoretical results for conditional CPPI strategies indexed on...

We study performance of Islamic and conventional indices of the Gulf Cooperation Council (GCC) countries in the wake of financial crisis of 2008 and test whether Islamic indices were less risky than conventional indices. We make use of data of the six GCC markets as well as the Dow Jones Islamic...

This paper examines the strategy in resource allocation of a firm which must choose between several production functions. These latter ones can differ by their respective initial investment amounts, input costs, output levels and prices...Such management problem is often posed when input values...

Fund managers compensation is a particular problem area in terms of its tax treatment in the United States and some European countries. This problem originates in the difficulty of defining these particular forms of incentive and therefore their estimated fair value. Based on the literature,...

Technological innovation is not exclusive to great industrial groups. Sometimes, innovative and dynamic companies emerge in high-tech sectors and constitute a serious threat for some industry giants. However, the high reactivity of these small companies is generally impaired by problems of...

Evaluate a growing company is always a difficult exercise because the valuation depends on the appreciation of many factors that vary depending on the person performing the evaluation: manager, shareholder, venture capitalist, etc. This article aims to present the methods used to evaluate this...

This note provides an intuitive and simple proof of the existence of equilibrium in an incomplete ffnancial economy with numeraire assets, when the preferences are represented by concave, strictly increasing functions..

Discussion of Islamic private equity (PE) financing modes rarely provides detailed analytical insights into their properties: there is no rigorous analysis of their features. The current paper analyzes how and when Profit Loss Sharing (PLS) financing methods can solve asymmetric information...

We extend the research on private equity by studying the drivers of LBO operating performance in Asia. We consider a large set of candidate drivers (financial, governance, macroeconomic, cultural, microeconomic and industry variables) and study their effects on performance over the short- and...