This exploratory study attempts to measure and explain the evolution of productivity of seven Canadian air carriers over the 1970-80 period. Based on recent work on time series analysis, and in contrast to the conventional approach, this paper links measured productivity to the potential and...

This article presents a survey of the solutions offered to firms in financial distress. The fîrst section examines the role of debt in the firms' financing decisions. In particular, we discuss the impact of the use of debt on the value of the firm and its importance in the presence of...

The main objective of the new Bankruptcy Act is to promote the use of financial reorganization. Data from a sample of 393 financial reorganizations in Canada are used to determine whether or not this represents an improvement over the previous System and whether or not the objective to increase...

In this paper, we present an economic analysis of road safety emphasizing market failures due to externalities and moral hazard. We also examine governmental actions such as taxes and subsidies and regulation which may reduce inefficiencies. Dans cet article nous présentons une analyse...

We want to test the ability of conditional and non-conditional CAPM models to explain the returns on emerging markets as a function of their integration with world markets. We use data on 16 developed markets and 10 emerging markets together with data on the Casablanca Stock Exchange (CSE)...

The purpose of this paper is to show that, for the risky situation caracterized by the probability p of losing an amount h, there exists an adequate measure of the risk variations caused by equivalent changes in p and h. This follows from an application of the concept of mean-preserving spread...

In this article, we consider misleading advertising and in particular the advertising of a false regular price when a bargain price is announced. To take into account the strategic interactions between firms and the consumers' rationality when confronted with advertising, we develop a duopoly...

In this article, we study the statistical relationships between individual probabilities of accidents and both different infractions to the Quebec Code of Road Safety and some infractions to the Criminal Code which carry a suspension of the driving permit. We propose new tables of demerit points...