Is the investor able to identify the highest performing analysts on the basis of results of annual sell-side analysts ranking surveys? The thesis aims to examine this question using two empirical studies. The first addresses the factors that explain the choice of an analyst within a ranking....

For well over a decade many observers had warned that the European Union was ill-prepared in case of a financial storm because its market integration far outpaced its policy integration. This situation was well known to policy-makers but it was hoped that financial crises would wait until policy...

For well over a decade many observers had warned that the European Union was ill-prepared in case of a financial storm because its market integration far outpaced its policy integration. This situation was well known to policy-makers but it was hoped that financial crises would wait until policy...

Dans ce papier, nous avons analysé les liens possibles entre les indicateurs de supervision, de réglementation et les crises bancaires, nous avons construit alors différents indicateurs de supervision, de réglementation pour 40 pays développés et émergents. Nous avons appliqué un modèle...

This paper presents a theory for Islamic venture capital namely ‘Mudharabah’ contract under adverse selection problem. In order to avoid selecting a low type entrepreneur for a given good project, the framework defines the profit sharing ratio (PSR) as a screening device. We then develop a...

This paper analyzes how bankruptcy litigation affects the value of relationship banking. In our model, bankruptcy courts may make type 1 errors, i.e., they may declare that an insolvent firm is solvent; and they may make type 2 errors, i.e., they may declare that a solvent firm is insolvent. Our...