A numbers of studies focusing on the determinant of the insurance market efficiency haveincreased in the last decade. In fact, many factors, like the CEO's power, can influence the efficiency in the insurance firm. The purpose of this research is to analyze the relationship between efficiency,...

As we wonder about the possibility of transposing the classical model of organizational control in the specific context of franchise networks through its key dimensions (legitimacy, mission, structure, strategy), the current article focused on the construction of a research model describing the...

We present evidence consistent with theories that psychological biases affect rationality decision of managers. We find a strong evidence on the effect of managerial psychology on corporate investment decision's rationality. Using models estimation from a Tunisian context, we find that the...

The relation between corporate governance and the financial decisions presents a rich subject but less pronounced in corporate finance. The purpose of this article is to study the impact of the ownership structure on the debt policy of the Tunisian companies. From the econometric tests applied...

An optimal asset allocation is crucial for non-life insurance companies. The most previous studies focused on this topic use a mono-objective technique optimization. This technique usually allows the maximization of shareholders' expected utility. As non-life insurance company is a complex...

In recent years the financial markets known a rapid development and become more and more complex. So, many regulatory requirements, focused on banks as well as insurance sector, have been developed. These regulatory are concentrated essentially on business risk control and required capital to...

Most recent studies are based on benchmarking analysis allowing the measure of company efficiency relatively to a reference performance. Benchmarking is a helpful tool to analyze and promote efficiency in insurance companies. The fast development of X-efficiency notion makes traditional...

Investment cash flow sensitivity constitutes one important block of the corporate financial literature. While it is well documented in standard corporate finance, it is still young under behavioral corporate finance. In this paper, we test the investment cash flow sensitivity among panel data of...

This study tries to extend previous works on behavioral corporate finance by examining the interaction between investment cash flow sensitivity and various CEO characteristics in either the existence or inexistence of managerial optimism. Using a Q-investment model and departing from a sample of...