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FDI waves, waves of neglect of political risk

Méon, Pierre-Guillaume; Sekkat, Khalid - Centre Emile Bernheim, Solvay Brussels School of … - 2010

Many studies have underlined the detrimental impact of local political risk on foreign direct investment inflows. In this paper, we argue that that relationship depends on the global volume of FDI. After providing a simple model and theoretical arguments suggesting that the relationship should...

Persistent link: https://www.econbiz.de/10008468452

Wage Compression in Europe: First Evidence from the Structure of Earnings Survey 2002

Mourre, Gilles - Centre Emile Bernheim, Solvay Brussels School of … - 2009

This paper aims at examining wage compression in Europe, defined as a relatively small wage differentials compared with productivity differences. Using the publicly available data on wages drawn from the Structure of Earnings Survey 2002, it considers the existence of wage compression both...

Persistent link: https://www.econbiz.de/10008544654

L’opérateur de transport public à Bruxelles (STIB) et la Région de Bruxelles-Capitale :25 ans de vie commune

Goethals, Christophe - Centre Emile Bernheim, Solvay Brussels School of … - 2014

Since 1989 and the regionalization of public transports in Belgium, the Société des transports intercommunaux de Bruxelles (STIB), i.e. the public operator of urban transport in Brussels, has undergone many changes, both structural and organizational. Meanwhile, the company has managed to...

Persistent link: https://www.econbiz.de/10010968982

Audit Quality and Corporate Governance: Evidence from the Microfinance Industry

Beisland, Leif Atle; Mersland, Roy; Oystein Strøm, R. - Centre Emile Bernheim, Solvay Brussels School of … - 2013

the relationships between audit quality and governance mechanisms. We examine two measures of audit quality, namely, the … audit quality. In particular, the presence of internal auditors is related to other indicators of stricter governance … relationship between audit quality and governance does exist, the sign of this relationship is always positive. Thus, our data …

Persistent link: https://www.econbiz.de/10010968988

Business Cooperatives as a social response to unemployment

Ashta, Arvind - Centre Emile Bernheim, Solvay Brussels School of … - 2013

financial markets is being questioned and new forms of social innovations focusing on stakeholder governance and cooperation are … microcredit. It also provides the microentrepreneurs a new form of governance and opportunities for networking, developing …

Persistent link: https://www.econbiz.de/10010721924

Productivity Surplus Distribution in Microfinance: Does Ownership Matter?

Périlleux, Anaïs; Bloy, Eddy; Hudon, Marek - Centre Emile Bernheim, Solvay Brussels School of … - 2010

How do microfinance institutions (MFIs) allocate their productivity surplus to stakeholders? This paper shows that this allocation process varies according to the MFI ownership structure. Non-profit organisations and shareholders-held MFIs exhibit a tendency to largely keep their surplus within...

Persistent link: https://www.econbiz.de/10008506601

Microfinance Institutions Performance. What Matters about the Interaction of Location and Legal Status?

Tchakoute Tchuigoua, Hubert - Centre Emile Bernheim, Solvay Brussels School of … - 2010

The question this article seeks to answer is whether the relationship between legal status and performance is influenced by the geographical area to which the MFI belongs, as postulated in some work. To this end, we study a sample of 202 MFIs in the period 2001 to 2006. The results show that in...

Persistent link: https://www.econbiz.de/10008506606

Maturity Mismatch and Governance of Microfinance Cooperatives: Lessons from History

Périlleux, Anaïs A - Centre Emile Bernheim, Solvay Brussels School of … - 2010

a maturity mismatch, which in turns leads to governance issues. The 19th century German FCs provided long-term loans (10 … governance system based on cooperative auditing associations. We discuss the feasibility of implementing those mechanisms in …

Persistent link: https://www.econbiz.de/10008544651

To whom should we be fair? Ethical issues in Balancing Stakeholder Interests from Banco Compartamos Case Study.

Ashta, Arvind; Hudon, Marek - Centre Emile Bernheim, Solvay Brussels School of … - 2009

In the world of microfinance, interest rate ethics is an important issue, thrown into the limelight by the Initial Public Offering of Compartamos which resulted in millions of dollars of gains, some of which found their way into private pockets. These high gains were based on high interest...

Persistent link: https://www.econbiz.de/10004981890

Microfinance and common goods: A study of Brazilian community development banks

Hudon, Marek; Meyer, Camille - Centre Emile Bernheim, Solvay Brussels School of … - 2013

Inclusive financial sectors are essential in terms of poverty alleviation. While microcredit can be governed as a private good, self-managed civil society organizations propose an alternative way of managing financial services. Brazil's Community Development Banks (CDBs) are a growing and...

Persistent link: https://www.econbiz.de/10010743074