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Les bulles spéculatives et le marché de l’immobilier

Teulon, Frédéric - Institut de Préparation à l'Administration et à la … - 2014

L’évaluation du prix des actifs est un problème récurrent en économie. Cette question se pose dans le domaine de l’immobilier comme dans d’autres domaines. Après une très forte phase de croissance, le marché immobilier américain a été touché à partir du mois de juin 2007 par...

Persistent link: https://www.econbiz.de/10010796406

Stock Market Reactions to Sovereign Credit Rating Changes: Evidence from Four European Countries

Fatnassi, Ibrahim; Ftiti, Zied; Hasnaoui, Habib - Institut de Préparation à l'Administration et à la … - 2014

We analyze the reactions of the returns of four European stock markets to sovereign credit rating changes by Fitch, Moody’s, and Standard and Poor’s (S&P) during the period from June 2008 to June 2012 using panel regression equations. We find that (i) upgrades and downgrades affect both own...

Persistent link: https://www.econbiz.de/10010754736

Do global factors impact BRICS stock markets? A quantile regression approach

Mensi, Walid; Hammoudeh, Shawkat; Reboredo, Juan Carlos; … - Institut de Préparation à l'Administration et à la … - 2014

This paper examines the dependence structure between the emerging stock markets of the BRICS countries (Brazil, Russia, India, China and South Africa) and influential global factors (the S&P 500 index, the commodity markets, the global stock market uncertainty and the US economic policy...

Persistent link: https://www.econbiz.de/10010754739

Volatility spillovers and macroeconomic announcements evidence from crude oil markets

Belgacem, Aymen; Creti, Anna; Guesmi, Khaled; Lahiani, Amine - Institut de Préparation à l'Administration et à la … - 2014

into two components, namely the direct effect (common response) and indirect effect (volatility transmission). Altogether … our results show that the volatility transmission is bidirectional since a significant volatility transmission from the … oil market to the US stock market is revealed. Furthermore, a higher volatility transmission is recorded from the oil …

Persistent link: https://www.econbiz.de/10010754757

Is there a difference between domestic and foreign risk premium? The case of China Stock Market

Teulon, Frédéric; Guesmi, Khaled; Fattoum, Salma - Institut de Préparation à l'Administration et à la … - 2014

-GARCH model is used to capture the feature of time-varying volatility in stock returns. We show evidence of different pricing …

Persistent link: https://www.econbiz.de/10010754808

Dynamic spillovers among major energy and cereal commodity prices

Mensi, Walid; Hammoudeh, Shawkat; Nguyen, Duc Khuong; … - Institut de Préparation à l'Administration et à la … - 2014

concerns about the heightened volatility of these markets and the possible negative interactions between them. This article … deals with the dynamic return and volatility spillovers across internationally traded energy and cereal commodity markets …. It also examines the impacts of three types of OPEC news announcements on the volatility spillovers and persistence in …

Persistent link: https://www.econbiz.de/10010754812

Linear voting rule limitation strategy to reduce the power of a unique new comer in a firm's capital

Teulon, Frédéric; Moschetto, Bruno-Laurent - Institut de Préparation à l'Administration et à la … - 2013

In all the defensive measures against takeover bids, those based on rules limiting voting rights are generally cited as the most effective. Ironically, the supposed efficacy seems to have never been tested or modeled. This is precisely the subject of our article that focuses in terms of...

Persistent link: https://www.econbiz.de/10010860450

Optimisation d’une stratégie anti-OPA par limitation linéaire des droits de vote face à un investisseur hostile

Moschetto, Bruno-Laurent; Teulon, Frédéric - Institut de Préparation à l'Administration et à la … - 2014

This paper studies the rules that limit voting rights as a defensive measure against hostile takeovers. We consider atomistic shareholders and a small group of united minority shareholders, the hard core, that wants to block any hostile takeovers. This group constructs a device based on a...

Persistent link: https://www.econbiz.de/10010796415

Are Stock Prices Related to Political Uncertainty Index in OECD Countries? Evidence from Bootstrap Panel Causality Test

Chang, Tsangyao; Chen, Wen-Yi; Gupta, Rangan; Nguyen, … - Institut de Préparation à l'Administration et à la … - 2013

This study applies bootstrap panel causality, proposed by Kónya (2006), to investigate causal link between political uncertainty and stock price for seven OECD countries over the monthly period of 2001.01 to 2013.04. This modeling approach allows us to examine both the cross-sectional...

Persistent link: https://www.econbiz.de/10011161637

Conditional Correlations and Volatility Spillovers between Crude Oil and Oil- exporting and importing countries

Guesmi, Khaled; Abid, Ilyes; Kaabia, Olfa - Institut de Préparation à l'Administration et à la … - 2014

The paper analyses the time-varying conditional correlations between stock markets and oil

Persistent link: https://www.econbiz.de/10010860458