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Gouvernance familiale et politique de distribution aux actionnaires
Charlier, Patrice; Duboys, Céline - In: Revue Finance Contrôle Stratégie 14 (2011) 1, pp. 5-31
(VF)L’objectif de cette étude est d’analyser la relation entre les politiques de distribution des entreprises familiales cotées et deux grands types de conflits d’agence dans les entreprises familiales, entre actionnaires et dirigeant (type I), et entre actionnaires majoritaires et...
Persistent link: https://www.econbiz.de/10010585947
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Does Dividend Policy Have a Political Dimension? The British Case
Bank, Steven; Cheffins, Brian; Goergen, Marc - In: CESifo DICE Report 5 (2007) 1, pp. 33-37
Persistent link: https://www.econbiz.de/10005037372
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Gouvernement d’entreprise:un modèle de répartition de la valeur créée entre dirigeant et actionnaire
Louvet, Pascal; Taramasco, Ollivier - In: Revue Finance Contrôle Stratégie 7 (2004) 1, pp. 81-116
(VF)L’article présente un modèle décrivant le partage de la valeur créée entre le dirigeant et l’actionnaire. Le modèle montre que le limogeage représente une menace très dissuasive pour le dirigeant qui suffit le plus souvent à réfréner son appétit pour les prélèvements...
Persistent link: https://www.econbiz.de/10005111171
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Preferences, Consumption Smoothing and Risk Premia
Lettau, M.; Uhlig, H.F.H.V.S. - Tilburg University, Center for Economic Research - 1997
Risk premia in the consumption capital asset pricing model depend on preferences and dividend. We develop a …
Persistent link: https://www.econbiz.de/10011090587
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International Risk Sharing and Currency Unions; The CFA Zones
Yehoue, Etienne B. - International Monetary Fund (IMF) - 2005
This paper explores income and consumption smoothing patterns among the member countries of each of the CFA zones-the CEMAC2 and the WAEMU3-during the period 1980-2000. I find that for the CEMAC, only about 15 percent of shocks to GDP are smoothed through the standard channels (that is, capital...
Persistent link: https://www.econbiz.de/10005599656
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Econometric Models for Oil Price Forecasting: A Critical Survey
Frey, Giliola; Manera, Matteo; Markandya, Anil; Scarpa, … - In: CESifo Forum 10 (2009) 1, pp. 29-44
Persistent link: https://www.econbiz.de/10005013101
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The Economics of Natural Disasters
Hallegatte, Stéphane; Przyluski, Valentin - In: CESifo Forum 11 (2010) 2, pp. 14-24
Persistent link: https://www.econbiz.de/10008500611
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Sovereign Risk and Belief-Driven Fluctuations in the Euro Area
Corsetti, Giancarlo; Kuester, Keith; Meier, André; … - International Monetary Fund (IMF) - 2013
Sovereign risk premia in several euro area countries have risen markedly since 2008, driving up credit spreads in the private sector as well. We propose a New Keynesian model of a two-region monetary union that accounts for this “sovereign risk channel.” The model is calibrated to the euro...
Persistent link: https://www.econbiz.de/10010790357
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Pricing of Sovereign Credit Risk; Evidence From Advanced Economies During the Financial Crisis
Alper, C. Emre; Forni, Lorenzo; Gerard, Marc - International Monetary Fund (IMF) - 2012
We investigate the pricing of sovereign credit risk over the period 2008-2010 for selected advanced economies by examining two widely-used indicators: sovereign credit default swap (CDS) and relative asset swap (RAS) spreads. Cointegration analysis suggests the existence of an imperfect market...
Persistent link: https://www.econbiz.de/10009650642
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Do firms' relationships with principal customers/suppliers affect shareholders' income?
Wang, Jin - In: Journal of Corporate Finance 18 (2012) 4, pp. 860-878
's dividend payments: 1) the high financial distress costs associated with relationship-specific investments and 2) the … relationship between a firm's dependence on customer–supplier relationships and its dividend payments. This result is robust to … firm's customer–supplier relationship affects its dividend payments. Overall, our results suggest that a firm …
Persistent link: https://www.econbiz.de/10010599416