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Le contrôle des activités externalisées : le cas des offices nationaux marocains.

Sebti, Hicham - Université Paris-Dauphine

Outsourcing is one of the organizational practices that have increased in popularity over the past decade, even in the … outsourcing context and contingency factors that underlie them. For that purpose, we carried out an exploratory case study upon … three Moroccan, publicly owned, offices that are involved since 2000 in a large outsourcing plan. The results indicate that …

Persistent link: https://www.econbiz.de/10008532359

A resource-based view of firm boundaries.

Jain, Amit; Thiétart, Raymond-Alain - Université Paris-Dauphine

The current paper explores the use of the Resource-Based View in the analysis of the firm boundary decision. It is proposed that resources that are valuable, rare, imperfectly imitable and non-substitutable are those that have the least likelihood of being outsourced. This proposition is tested...

Persistent link: https://www.econbiz.de/10008457291

How does the Introduction of an ETF Market with Liquidity Providers Impact the Liquidity of the Underlying Stocks?.

Platten, Isabelle; Gresse, Carole; De Winne, Rudy - Université Paris-Dauphine

This article examines how the inception of an ETF market impacts several dimensions of the liquidity of the ETF-underlying-index stocks. In contrast with previous research, our evidence is based on an ETF market where liquidity providers (LPs) act as market makers. We find that: (1) the market...

Persistent link: https://www.econbiz.de/10009370244

Multivariate Utility Maximization with Proportional Transaction Costs.

Owen, Mark; Campi, Luciano - Université Paris-Dauphine - 2011

We present an optimal investment theorem for a currency exchange model with random and possibly discontinuous proportional transaction costs. The investor’s preferences are represented by a multivariate utility function, allowing for simultaneous consumption of any prescribed selection of the...

Persistent link: https://www.econbiz.de/10008492130

Centralised order books versus hybrid order books: a paired comparison of trading costs on NSC (Euronext Paris) and SETS (London Stock Exchange).

Gresse, Carole; Gajewski, Jean-François - Université Paris-Dauphine - 2007

This article compares the cost of trading large capitalisation equities on the hybrid order-driven segment of the London Stock Exchange and the centralised electronic order book of Euronext. Using samples of stocks matched according to economic sector, free float capitalisation, and trading...

Persistent link: https://www.econbiz.de/10008532560

The Impact of Crossing on Market Quality : an Empirical Study on the UK Market.

Gresse, Carole - Université Paris-Dauphine

Persistent link: https://www.econbiz.de/10008572187

Arbitrage and control problems in finance: A presentation.

Jouini, Elyès - Université Paris-Dauphine - 2001

When the markets are dynamically complete and without imperfections there are three equivalent approaches in order to price a given asset : the arbitrage approach through the existence of a risk-neutral density, the utility approach through a utility maximization program and the equilibrium...

Persistent link: https://www.econbiz.de/10008800246

Mean square error for the Leland-Lott hedging strategy: convex pay-offs.

Lépinette-Denis, Emmanuel; Kabanov, Yuri - Université Paris-Dauphine - 2010

Leland’s approach to the hedging of derivatives under proportional transaction costs is based on an approximate replication of the European-type contingent claim V T using the classical Black–Scholes formula with a suitably enlarged volatility. The formal mathematical framework is a scheme...

Persistent link: https://www.econbiz.de/10008460925

Consistent Price Systems and Arbitrage Opportunities of the Second Kind in Models with Transaction Costs.

Lépinette-Denis, Emmanuel; Kabanov, Yuri - Université Paris-Dauphine - 2012

In contrast with the classical models of frictionless financial markets, market models with proportional transaction costs, even satisfying usual no-arbitrage properties, may admit arbitrage opportunities of the second kind. This means that there are self-financing portfolios with initial...

Persistent link: https://www.econbiz.de/10008460930