Since the late 90s,, European industries of electricity and gas have been subject to a process of concentration at both horizontal and vertical levels. At first glance, this consolidation is quite natural since, on the one hand, the application of European directives to open to competition has...

Motivated by policy events experienced during the last two decades by the European natural gas industry, this paper develops a simple model for analyzing the interaction between gas release and capacity investment programs as tools to improve the performance of imperfectly competitive markets....

The procedures used for the presentation and review of industrial investment projects constitute hthe management control of investments. They provide a framework for decision and thus aim to avoid errors with regard to the profit and cost aspects of the proposed investment. A longitudinal study...

An analysis focusing on the financial aspects is proposed for the strategy initiated by Metallgesellschaft (MG) in 1993-94 on American petroleum markets. According to a specific definition of hedging, and on the basis of a detailed survey of the facts, this strategy is described as speculative....

Cet article propose un nouveau modèle de structure par terme des prix des matières premières, dans lequel le rendement d’opportunité présente un comportement asymétrique. Un tel modèle permet de valoriser des transactions avec livraison différée sur le marché physique et de couvrir...

With the strengthening of corporate social responsibility, the need for an evaluation of the environmental performance exists and appears more and more meaningful for the companies. This research paper proposes an evaluation “process & tool” which has been experimentally implemented within...