Funded private pillars are well developed in many countries such as the United States, the United Kingdom, Canada, Switzerland and the Netherlands. In France, the development of occupational pension plans has been limited. However, in this country, households tend to increase their personal...

Given a multi-dimensional Markov diffusion X, the Malliavin integration by parts formula provides a family of representations of the conditional expectation E[g(X 2)|X1]. The different representations are determined by some localizing functions. We discuss the problem of variance reduction...

Quelles sont les méthodes de prévision des ventes ? Comment concevoir des systèmes intégrés de prévision ? Comment les évaluer ? A ces questions Régis Bourbonnais et Jean-Claude Usunier apportent des réponses opérationnelles. Après avoir présenté les notions statistiques et...

We consider H expected utility maximizers that have to share a risky aggregate multivariate endowment X∈RN and address the following two questions: does efficient risk-sharing imply restrictions on the form of individual consumptions as a function of X ? Can one identify the individual utility...

We examine the effects of collateral provision as a potential channel between funding liquidity tensions and the scarcity of market liquidity. This channel consists in transferring the credit risk associated with refinancing operations between financial institutions to market participants that...

This paper examines the impact of fifteen pronouncements related to fair value accounting according to IAS 39 on equity prices of financial institutions. The results document that announcements that signal an increased (decreased) probability of issuance of IAS 39 produce negative (positive)...

Islamic and conventional investment funds have the same purpose. However, unlike conventional funds, Islamic funds offer different investment contracts and have to invest in accordance with a set of selection rules. This dissertation focuses on developing theoretical and empirical analysis...