Seemingly, the economic relations have no thing to do with the morality. The economy claims to be able to be a science; yet in th other scientific disciplines one does not arise this type of questions (we do not wonder if the physics of particles is moral either or not or if the composition of...

Frédéric Teulon

Similar to the Security Exchange Commission (SEC), the French Stock Exchange Authority (AMF) issued new board requirements to enhance manager control after financial scandals (2008-2009). This study investigates the relation between corporate governance and CEO pay levels after taking into...

This paper assesses the impact of oil prices on economic growth of the four major OPEC countries (United Arab Emirates, Kuwait, Saudi Arabia and Venezuela) over the period spanning from 03/09/2000 to 03/12/2010. We aim at complementing the results from existing analyses (mainly focused on...

This paper attempts to evaluate the time-varying integration of Japanese stock market from a regional perspective, by using a conditional version of the international capital asset pricing model (ICAPM) allowing for dynamic changes in the degree of market integration, regional market risk price,...

This paper examines the link between research and development (R&D) and idiosyncratic volatility for a panel of large French quoted companies. We investigate whether the intensity of R&D investment makes the firm’s stocks riskier. We suggest that R&D activities generate information asymmetry...

This paper examines changes in profitability of 146 CVC listed on the French market. The results show disappointing post-IPO profitability. The decline in performance ranges from 9.5% to 32% over a two-year period following the launch on the stock exchange. It also appears that the decline in...

In this paper, we examine the correlations between hedge fund strategy indices and asset classes. Based on the Dynamic Conditional Correlation (DCC) GARCH Model, we estimate the correlations between hedge fund, stock, and bond indices during bull and bear markets. The results reveal that there...

The main objective of this paper consists to study what we learned about the dynamic of Tunisian inflation rate in the last two decades. This question is overriding concern to monetary policy analysis because it gives us information’s on inflation forecasting. In other words, before given...

This paper analyzes the income of french top managers taking as a sample firms that made the CAC 40 in 2009. The pay gap between CEOs and unskilled workers have never been higher. In our view, explanations of this trend are not solely related to economic causes (transformation of the labor...