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A Structural Model with Jump Diffusion Processes

Dao, Thi Thanh Binh - Université Paris-Dauphine (Paris IX) - 2003

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

Existe-t-il une structure optimale de la propriété des firmes en termes de profit ?

Gabrié, Hubert - Université Paris-Dauphine (Paris IX) - 2008

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

Ownership Concentration and Capital Structure Adjustments

Kasbi, Salma - Université Paris-Dauphine (Paris IX) - 2009

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

Investment in oligopoly under uncertainty: The accordion effect

Bouis, Romain; Huisman, Kuno; Kort, Peter M. - Université Paris-Dauphine (Paris IX) - 2009

This paper studies investments in new markets where more than two (anticipated) identical competitors are present. In case of three firms an accordion effect is detected: an exogenous demand shock results in a change of the wedge between investment thresholds of the first and second investor...

Persistent link: https://www.econbiz.de/10010742284

Corporate Venture Capital: The Upside of Failure and Competition for Talent

De bettignies, Jean-Etienne; Chemla, Gilles - Université Paris-Dauphine (Paris IX) - 2003

. Competition from venture capitalists increases corporate venturing activity, the salaries of potential entrepreneurs, and total …

Persistent link: https://www.econbiz.de/10010706391

Liquidity Effects of Listing Requirements

Draus, Sarah - Université Paris-Dauphine (Paris IX) - 2009

I propose a model in which a stock exchange can improve its liquidity by tightening its listing requirements. Because these reduce information asymmetry, they increase the utility of investors and lead to a high investor participation on the exchange. However, the exchange never sets the highest...

Persistent link: https://www.econbiz.de/10010706435

Gas Release and Transport Capacity Investment as Instruments to Foster Competition in Gas Markets

Oviedo, Juan-Daniel; Guillerminet, Marie-Laure; Gasmi, Farid - Université Paris-Dauphine (Paris IX) - 2012

-release measures applied under regulatory control are indeed effective short-term policies for promoting gas-to-gas competition. …

Persistent link: https://www.econbiz.de/10010706828

Downstream Competition, Foreclosure, and Vertical Integration

Chemla, Gilles - Université Paris-Dauphine (Paris IX) - 2003

This paper analyses the impact of competition among downstream firms on an upstream firm's payoff and on its incentive … to vertically integrate when firms on both segments negotiate optimal contracts. We argue that tougher competition … firm is better off encouraging competition when the downstream firms have high bargaining power. We derive implications on …

Persistent link: https://www.econbiz.de/10010707301

Infrastructure-based versus service-based competition in the European mobile markets

Geoffron, Patrice - Université Paris-Dauphine (Paris IX) - 2007

Persistent link: https://www.econbiz.de/10010707321

Electricity Liberalization in Europe : Decreasing Prices, Increased Complexity

Chevalier, Jean-Marie - Université Paris-Dauphine (Paris IX) - 1998

Persistent link: https://www.econbiz.de/10010707390