This paper seeks primarily to analyze CEO holdings of stocks and options in their firm as a determinant of the decision to hedge and the intensity of hedging with option-like securities in the gold mining industry. The findings show that CEO holdings play an important role in the choice and...

French Abstract: Max Weber introduit l’idée que le système capitaliste de production s’est développé dans les communautés calvinistes du XVIIe siècle les rendant plus prospères que les communautés catholiques contemporaines, et ce grâce à l’apport indispensable d’un «esprit de...

In this paper, we present a multicriterion approach of portfolio comparison and apply it to the selection of a global index fund portfolio using sixteen (16) national stock market indexes. The first algorithm used in the study (ELECTRE IS) solves for the subset of portfolios among which the...

One approach that is gaining in popularity among portfolio managers uses ethical ratings, published by specialized research organizations, to screen securities for portfolio selection. Portfolio managers can thus gain a better understanding of the phenomenon and adopt a better and more...

This paper applies a game theory approach to examine the effects of a market structure change in options trading from a monopoly to a Cournot-type oligopoly that occurred in two successive periods on the Montreal exchange. We analyze the intra-day behaviour of option bid-ask spreads and find...