derivatives is unconstrained and manager compensation itself induces a non-linear payoff. The shape of the optimal Sharpe ratio …

fields of market efficiency and pricing of derivatives. The major findings of significant negative abnormal returns …

In this paper, we propose a survey of the academic literature that has addressed the threats raised by derivatives. An … initial issue is the impact of derivatives on the volatility of the underlying assets, but empirical findings do not suggest … any significant effect. The recent literature on the dangers of derivatives is more concerned by systemic risks. Several …

In line with the recent research and debates about econophysics and financial economics, this article discusses on … econophysics, the methodology used by financial economists is frequently considered as a top-down approach (starting from a priori …-up approach. Although this dualist perspective is very common in the econophysics literature, this paper claims that the …