Search results for " economic growth"

La construction de la théorie financière moderne : de la finance néoclassique à la finance néoinstitutionnelle et comportementale. Une introduction a…

2017

2e édition; National audience

A Dynamic Analysis of S&P 500, FTSE 100 and EURO STOXX 50 Indices Under Different Exchange Rates

2017

The persistence analysis of short- and long-term interaction and causality in the international financial markets is a key issue for policy makers and portfolio investors. This paper assesses the dynamic evolution of short-term correlation, long-term cointegration and Error Correction Model (hereafter referred to as ECM)-based long-term Granger causality between each pair of US, UK, and Eurozone stock markets over the period of 1980--2015 using the rolling-window technique. A comparative analysis of pairwise dynamic integration and causality of stock markets, measured in common and domestic currency terms, is conducted to evaluate comprehensively how exchange rate fluctuations affect the ti…

L'efficacité des privatisations françaises : une vision dynamique à travers la théorie de la gouvernance

2004

International audience; A reading of the process of privatization through the corporate governance theory leads to propose a model taking into account, on the one hand, the time dimension of the process of privatization, on the other hand, the contextual, organizational, governance and strategic variables which influence this process. After replicating some traditional tests, we test this model on a sample of French privatized firms and on a seven years horizon. The positive effect traditionally attributed to privatizations is not confirmed. The importance of the effect is subordinated to some of the suggested variables.; Une lecture du processus de privatisation à travers la théorie de la …

The Impact of Board Internationalization on Earnings Management

2016

Prior literature shows that choices regarding board composition are associated with earnings management. We add to this literature by examining the effects of the presence of a foreign board member on earnings management. Using a sample of 3,249 firm-year observations representing 586 non-financial listed Nordic firms during 2001-2008, we find that the presence of a non-Nordic, foreign director is associated with significantly higher levels of earnings management. Moreover, we provide preliminary evidence that differences in accounting knowledge drive this effect. Our results suggest that it may not necessarily be beneficial to appoint a foreign director to the board.

Études scientifiques et marché du travail : éléments de réflexion sur la crise des formations en sciences

2007

Student disaffection towards sciences, most evident in pure science undergraduates, is causing increasing concern for the future of scientific training in France. If access to employment deteriorates more for science graduates than for graduates in other disciplines, science graduates will have a distinct advantage in terms of earnings and employment status, when the economic situation becomes less favourable. Within sciences, graduates of pure sciences have a more difficult transition from education to employment than those from applied sciences. Yet graduates from both disciplines compete for the same job in the private sector with pure science graduates receiving lower wages. The “crisis…

Another "French paradox": explaining why interest rates to microenterprises dit not increase with the change in French usury legislation

2015

Conventional wisdom indicates that the growth of credit may not materialize if credit rates remain capped by usury laws, as had long been the case in France. France therefore abolished usury ceilings on loans to microenterprise in an effort to increase financing for microentrepreneurs. This should have led to an increase in interest rates and increase in microcredit. However, we do not find any increase in interest rates and this is therefore a paradox. The paper provides a brief literature review and the salient features of the legislative changes in France. It follows this up with a presentation of interest rate movements. The discussion of possible explanations of the paradox includes cl…

Varieties of State Aid and Technological Development: Government Support to the Pulp and Paper Industry, the 1970s to the 1990s

2018

Countries promote the development of pulp and paper industry through industrial, technology and innovation policy measures. Direct interventions and regional and environmental policies, together with more general governmental measures on trade negotiations, taxation, labour policies, and infrastructure development (e.g. roads, energy) have also had an impact on shaping the geographical location of and investments in the pulp and paper industry. This chapter presents an historical overview of government support on pulp and paper industry in the Organisation for Economic Co-operation and Development (OECD) countries from roughly the 1970s to the 1990s. As the earlier literature suggests, in c…

Éducation primaire et croissance économique en Afrique subsaharienne : les conditions d'une relation efficace

1995

This article is looking at the causes of the low effectiveness of educational investment in Subsaharan Africa, both at the micro level (effect on labour productivity), and at the macro level (effect on the rate of economic growth). Several recent empirical studies have shown that education impact is systematically weaker in this region than in the rest of the world, and even sometimes negative, as in the case of agricultural productivity. Two series of causes may explain this lack of impact : first, inappropriate economic policies at the macro level which hamper the role of education, either through negative incentives structures, or because of the absence of provision of associated factors…

2018

The increase in the prevalence of obesity worldwide has led to great interest in the economic consequences of obesity, but valid and powerful instruments for obesity, which are needed to estimate its causal effects, are rare. This paper contributes to the literature by using a novel instrument: genetic risk score, which reflects the predisposition to higher body mass index across many genetic loci. We estimate IV models of the effect of BMI on labor market outcomes using Finnish data that have many strengths: genetic information, measured body mass index, and administrative earnings records that are free of the problems associated with nonresponse, self-reporting error or top-coding. The fi…

From job demands and resources to work engagement, burnout, life satisfaction, depressive symptoms, and occupational health

2016

This study investigated the cross-lagged associations between work engagement and burnout, and life satisfaction and depressive symptoms, their demands (i.e., workload) and resources (i.e., servant leadership, self-efficacy, resilience) and relationships with occupational health outcomes (i.e., recovery, number of mental health diagnoses, workaholism). This study is a part of an ongoing Occupational Health Study in which 1 415 employees (586 men, 829 women) were followed twice during two years 2011–12 through their occupational health services. The participants filled in a questionnaire on their work engagement, burnout symptoms, well-being, personal and work environmental resources and dem…