Le 'Bas de la Pyramide' (BdP), est-il nouvel Eldorado pour les entreprises, ou seulement un miroir aux alouettes ? L'examen des activités 'BdP' existantes montre qu'il est difficile de gagner de l'argent en offrant aux populations les plus pauvres de la planète des produits et des services à...

During the recent years, researchers as well as policy makers have been increasingly interested in impact evaluation of development programs. A large number of impact evaluations have been developed and applied to measure the impact of programs. Different impact evaluation methods rely on...

The question of volatility dynamics has always been the motivation of many researchers in the field of finance with objectives to ensure economic stability and to obtain higher rates of return for investors by portfolio diversification. Consequently, to financial crisis streaming, in the last...

L’évaluation du prix des actifs est un problème récurrent en économie. Cette question se pose dans le domaine de l’immobilier comme dans d’autres domaines. Après une très forte phase de croissance, le marché immobilier américain a été touché à partir du mois de juin 2007 par...

Micro-founded dynamic stochastic general equilibrium (DSGE) models appear to be particularly suited for evaluating the consequences of alternative macroeconomic policies. Recently, increasing efforts have been undertaken by policymakers to use these models for forecasting, although this proved...

This study examines the behavior of auditors, considered as a monitoring mechanism, in the presence of a principal-principal agency conflict in a common-law country. Following the surprising findings of Holderness (2009) about ownership concentration of U.S firms, we examine ownership structure...

During the past two decades, customer satisfaction (CS) management has emerged as a strategic imperative for many organizations and has become an extremely popular topic for academics, managers and consultants (Kumar, Dalla Pozza, & Ganesh, 2013). CS measures the extent to which a product or...

The Solow [1957] implies that the TFP is the core factor of economic growth. If the economy bases merely on capital accumulation without technological progress, the diminishing returns on capital accumulation will eventually de- presses economic growth to zero. Accordingly, Solowian supporters...

We consider the model common agency proposed by Biais Martimort and Ro- chet (2000, 2013). We show that in this setting there is no symmetric equilibrium as the one characterized in those articles. We argue that the equilibrium price sched- ules cannot be simultaneously convex and concave. In...