By introducing a structure of the balance sheets of the banks, which takes into account their bilateral exposures in terms of stocks or lendings, we get a structural model for default analysis. This model allows us to distinguish the exogenous and endogenous default dependence. We prove the...

This thesis contributes to the analysis and measure of systemic risk through four chapters. In the first chapter, we discuss the notion of systemic risk and detail the methodological issues of modeling. The second chapter proposes a structural model of solvency contagion. Within an equilibrium...

The purpose of this article is to study accounting valuation practices in French bankruptcies following enactment of the Law of 1838. The research is based on a study of 500 files in the archives of the Paris Court of Commerce. After first presenting the main steps in the bankruptcy proceedings,...

The goal of our research is to gain a better understanding of organizational death, by looking at it as a process. This topic of research, with such an apprroach, is not very common in the litterature. The topic of organizational decline has received very little attention from researchers in...

Financial crisis are often associated with an endogenous credit reversal fol- lowed by a fall in asset prices and failures of financial institutions. To account for this sequence of events, this paper constructs a model where the excess risk-taking of portfolio investors leads to a bubble in...

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 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...