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The objective of this article is to identify the monetary plurality in economic theory. We will try to throw light on the way in which theories are attracted towards both unicity and plurality, and more specifically by unification and diversification of money. It should also be noted, in this...
Persistent link: https://www.econbiz.de/10011072281
In the short novel Ferragus, Balzac tells of the rise and fall of the Desmarets couple. Their trajectory within the Parisian commercial bourgeoisie under the Restauration period illustrates three interwoven forms of symbolic capital: professional reputation, matrimonial trust and social honor....
Persistent link: https://www.econbiz.de/10011074309
This paper studies a very thorough e-trading data base, including all of the bid/ask orders and daily portfolio values of more than 600 on-line amateur traders in the Paris Stock market focusing on the stormy period covering 2007-2009. Traders also participate in a monthly contest and can win...
Persistent link: https://www.econbiz.de/10010706696
Persistent link: https://www.econbiz.de/10010707539
In this paper, we extend the framework of Leland’s 94 by examining corporate debt, equity and firm values with jump difffusion processes. We choose two kinds of jumps such as the uniform and double exponential jumps to modelise the distribution of the log jump sizes. By this choice, we are...
Persistent link: https://www.econbiz.de/10011073201
The possible existence of a link between the structure of firms' equity and profitability is a recurrent question among economists. The primary objective of this article is to provide a critical analysis of the two most recent hypotheses on the subject, one put forward by Demsetz, and the other...
Persistent link: https://www.econbiz.de/10010708491
We investigate the capital structure dynamics of a panel of 766 firms from five Western Europe countries: France, Italy, UK, Germany and Switzerland over the period 1996-2007. If firms adjust their capital structure towards an optimal level with adjustment costs affecting this optimization...
Persistent link: https://www.econbiz.de/10010708984