This paper empirically investigates the connection between corruption and crime. Such linkage has been often underestimated because corruption has been often analysed as a white-collar crime. In fact, it is not characterised by violence. Recently, a theoretical connection has been suggested to...

Choice Blindness is an experimental paradigm that examines the interplay between individuals' preferences, decisions, and expectations by manipulating the relationship between intention and choice. This paper expands upon the existing Choice Blindness framework by investigating the presence of...

We consider the problem of maximizing terminal utility in a model where asset prices are driven by Wiener processes, but where the various rates of returns are allowed to be arbitrary semimartingales. The only information available to the investor is the one generated by the asset prices and, in...

Securitisation is growing at a moderate pace in France. With total outstanding securitised assets of EUR 215 billion at mid-2013, France ranks fifth in the euro area. The majority of securitised assets are loans to French residents. Securitisation has facilitated banks’ access to Eurosystem...

The difficult business environment that prevailed in 2012 adversely affected small and medium-sized enterprises (SMEs) in France and above all weighed on their profits. SMEs nonetheless maintained a sound capital structure and reduced their debt ratios, even though many of them were weakened by...

In 2012, disparities were observed among the financial positions of French firms. Activity slowed down, profits fell and the rise in equity was smaller than in 2011. Nevertheless, firms’ financial structures improved and their cash position reached a 15-year high.