Search results for "Finance"
showing 10 items of 4676 documents
Credit risk transmission in the European banking sector: the case of the subprime and Eurozone debt crises
2014
El objetivo del presente trabajo es analizar en profundidad la transmisión del riesgo de crédito, aproximado por los CDS spreads, en el sector bancario europeo durante el periodo 2006-2012, intentando dar respuesta a diversas cuestiones: (i) ¿existe evidencia de transmisión del riesgo de crédito entre las entidades financieras europeas de la Eurozona y las que no pertenecen a dicha zona?, (ii) ¿es esta transmisión bidireccional o unidireccional?, (iii) concretamente, ¿qué países han liderado dicha transmisión?, y (iv) ¿cómo se ha visto afectada dicha transmisión con las recientes crisis financieras? Los resultados indican un cambio significativo en la transmisión del riesgo de crédito con e…
Volatility spillovers in the European bank CDS market
2015
From the 2007 subprime crisis to the recent Eurozone debt crisis,the banking industry has experienced terrible financial instabilitywith increasing volatility levels of bank default probability. UsingEuropean CDS spreads data from January 2006 to March 2013, thispaper sheds light on the impact of three recent significant events ofcredit risk volatility transmission between, firstly, Eurozone andnon-Eurozone banks, and then between distressed peripheral andcore countries inside the Eurozone. We employ an asymmetricmultivariate BEKK model to measure cross-market volatility spil-lovers. We find that both recent crises are distinct episodes. Theglobal financial crisis that originated outside Eu…
Les effets du CICE sur l'emploi, les salaires et la R&D: une évaluation ex post
2017
Le Crédit d’Impôt pour la Compétitivité et l’Emploi est l’une des mesures phare du quinquennat de François Hollande. Mis en œuvre à partir de 2013, ce dispositif consiste en un crédit d’impôt d’un montant de 4 % de la masse salariale (6% en 2014) pour tous les salaires jusqu’à 2,5 Smic. Il s’agit d’un dispositif massif pour un coût budgétaire estimé à 11,2 milliards d’euros en 2013. L’objet de cette étude est de proposer une évaluation ex post des effets de ce dispositif sur l’emploi, les salaires et un ensemble d’autres variables caractérisant les réactions des entreprises au crédit d’impôt, notamment leurs marges et leurs comportement d’investissement. Elle repose sur l’exploitation d’un …
Le château des Carpathes ou le financement du syndicalisme
2013
International audience; Depuis 2011 et 2012, les principales organisations syndicales (confédérations, fédérations, unions territoriales et gros syndicats) doivent publier leurs comptes. Du fait d'un cadre comptable peu adapté et lacunaire, les données publiées sont difficilement analysables. Les cotisations semblent peser d'un poids important dans les ressources d'une majorité d'organisation mais il s'agit d'un artifice comptable. En réalité, l'essentiel des ressources provient des aides des employeurs (privés comme publics), des collectivités territoriales et de l'Etat, des prélèvements sur les organismes de sécurité sociale et surtout des personnels mis à disposition. Mais ces ressources…
Regulating Internet Trade in CITES Species
2013
International trade in species that are or may be endangered by collection from the wild is regulated under the Convention on International Trade in Endangered Species of wild fauna and flora (CITES) for 176 member States (Parties). Internet commerce is a relatively new route for such trade. In 2007, the CITES Secretariat asked Parties to collect information on internet wildlife trade and report problems and implemented regulations. The reports indicated it was difficult to even approximate the influence of e-commerce on CITES-listed species (CITES Secretariat 2009). We report a case study in which we quantified international transactions over an internet auction site of CITES-listed cacti …
Elucidating the constructs happiness and wellbeing: A mixed-methods approach
2015
International audience; In this study we examine the constructs "happiness" and "wellbeing" in a sample of Canadian women and men in mid-adulthood. Through a sequential mixed-methods approach, we utilize Sen and Nussbaum's conceptualizations of capabilities to inform the themes generated from semi-structured interviews. We find that participants understand happiness and wellbeing as two distinct constructs that are illuminated in the metaphors happiness as balance and the gears of wellbeing. Second, we corroborate these constructs through a principal component analysis of questionnaire data. We conclude that happiness and wellbeing are not static entities, but rather iterative processes tha…
Qui contrôle le canal de distribution ?
2017
National audience
Brand bonding development through shopping experiences in branded boutiques
2017
Nowadays Brands generate additional sales via their own retail network, in particular their own boutiques where they propose a unique experience and enter directly in contact with their consumers. Brands provide consumers with an emblematic experience they can fully pilot in comparison with externalized distribution. - Experiential marketing being a strategic lever - These specific shopping experience can generate business, reinforce brand-image, brand-bonding and can also trigger the engagement of consumers who themselves actively participate to brand-building. This survey aims at measuring how the shopping experience in branded boutiques generates brand-bonding. One shall then understand …
L-band vegetation optical depth seasonal metrics for crop yield assessment
2018
Attenuation of surface microwave emission due to the overlying vegetation is proportional to the density of the canopy and to its water content. The vegetation optical depth (VOD) parameter measures this attenuation. VOD could be a valuable source of information on agroecosystems, especially at lower frequencies for which greater portion of the vegetation canopy contributes to the observed brightness temperature. In the past, visible-infrared indices have been used to provide yield estimates based on measuring the photosynthetic activity from the surface canopy layer. These indices are affected by clouds and apply only in the presence of solar illumination. In this study we instead use the …
The new player in international taxation: The Automatic Exchange of Information on financial information
2021
The article highlights the progress of international taxation in the fight against the concealment of income in offshore jurisdictions and exposes the lights and shadows of the current legal framework for the exchange of information on bank accounts. The author examines the major problems of international taxation and how corporations avoid paying taxes in their jurisdictions and how it affects the financial sphere. The article studies bank secrecy with its harmful aspects and develops the solution to resolve the current issues. As a conclusion, the author focuses on cooperation between tax administrations and the positive outcomes from transparency and information exchange measures on the …