This article aims at studying the influence of debt on small business investment in a European context, i.e. France. The empirical findings, robust to the endogeneity analysis, lead to several interesting results. In particular, credit institutions privilege corporate manager monitoring before...

We revisit the issue of comovements of emerging and developed stockmarkets, and provide a simultaneous treatment of data for the eighties and nineties. We show that while emerging markets experience greater instability in the long term than their developed counterparts, there is room for...

We revisit the issue of comovements of emerging and developed stockmarkets, and provide a simultaneous treatment of data for the eighties and nineties. We show that while emerging markets experience greater instability in the long term than their developed counterparts, there is room for...

We put forward a technique based on cluster analysis to group stocks in spot markets according to a risk-return criterion. We show how an informed investor will make money using the cluster analysis to select stocks of major companies from North and South America.

We evaluate the performance of 307 Brazilian stock mutual funds employing stochastic frontiers. We list the top ten actively managed funds and the bottom ten for the period April 2001-July 2003, and show that a fund's efficiency increases with management skill to beat the market. We also find...

We put forward a technique based on cluster analysis to group stocks in spot markets according to a risk-return criterion. We show how an informed investor will make money using the cluster analysis to select stocks of major companies from North and South America.

We evaluate the performance of 307 Brazilian stock mutual funds employing stochastic frontiers. We list the top ten actively managed funds and the bottom ten for the period April 2001-July 2003, and show that a fund's efficiency increases with management skill to beat the market. We also find...

At each time, a firm facing uncertainty over future market conditions have to make a decision whether they should continue to produce or stop the process? As the traditional principle, the firm will go out of production when the price of the typical unit does not cover the average variable cost...

Market risk measurement has a long tradition in finance and it has been drawing the attention of many academic studies since Markowitz (1952). But the CAPM model (and derived models) assumptions have been targets of much criticism, in the sense that beta estimation may be imprecise. The...

We show that multiple shareholder control (MSC) can arise as a signaling mechanism. A controlling shareholder can sell her shares because of personal liquidity needs or because of bad fundamentals of the asset she owns. Because the market is unable to distinguish the motivation for sale and the...