This paper aims to conduct a comparative analysis of the evolution of financial systems in emerging countries and / or development. This comparative analysis is performed through the use of various techniques namely the principal component analysis and hierarchical clustering on a sample of 52...

This paper highlights the relevant role of the quality of institutions in maintaining banking stability. Poor institutions constitute the key determinants in explaining the emergence of banking crises. An empirical study of 52 emerging and / or developing countries from 1996 to 2009 finds that...

The Tunisian banks currently operate in a very competitive environment. Long-term viability of this sector depends on its degree of efficiency. Therefore a study relating to the determinants of X-Efficiency in Tunisian banks is of major interest. For that purpose, we made recourse to an...

R&D treatment could be influenced by earnings management purposes due to the flexibility allowed in the R&D accounting standards. This paper attempts to determine whether discretionary R&D treatments are motivated by financial performance or can be constrained by board independence. The study is...

In this paper, we examine the relationship between liquidity, liquidity risk and credit risk in emerging sovereign bonds after the subprime crisis period. In our study, we concentrate in the effect of liquidity and credit risk in the problem of liquidity and in the emerging bond market. The...

In this paper, we examine the relationship between liquidity, liquidity risk and credit risk in emerging sovereign bonds after the subprime crisis period. In our study, we concentrate in the effect of liquidity and credit risk in the problem of liquidity and in the emerging bond market. The...

Performance evaluation is part of the chain of financial transparency which involves the production, verification, analysis, synthesis, dissemination and use of information on the financial performance of a micro-finance institution (MFI). In this study, the authors will try to show the...

In recent years, studying stock markets using multi-agent based models has grow into an important research area due to the fact that this line of attack replicates the nature of the financial market where varied traders with a mixture of expectations and diverse points of rationality network...

The present study's major objective consists in providing an empirical examination of the effect of the information asymmetry variables on the IPOs underpricing on the French market, based on the agency theory. The results have shown that the securities' underpricing can be explained by...