Année : 2011

Etude de la non linéarité entre croissance et endettement extérieur : cas des pays de l’Union Economique et Monétaire Ouest Africaine

Mercredi | 2011-12-14 B103 Oumou GUISSE L’objectif de cet article est d’étudier la nature de la relation entre endettement extérieur et activité économique. L’étude se fait sur un panel constitué des pays membres de l’Union Economique et Monétaire Ouest Africaine (à l’exception de la Guinée Bissau) sur une période allant de 1970 à 2009. La […]

La structure du capital et la profitabilité. Une étude empirique sur données de panel françaises

Mardi | 2011-12-13 B103 Mazen KEBEWAR L’objectif de cet article est d’analyser l’impact de la structure du capital sur la profitabilité. Cet impact peut être expliqué par trois théories essentielles: la théorie du signal, l’influence de la fiscalité et la théorie de l’agence. Nous montrons, à partir d’un échantillon de 9136 entreprises réparties sur sept […]

US Corporate Bond Yield Spread: A default risk debate

Mercredi | 2011-11-23 B103 Syed Muhammad Noaman Ahmed SHAH According to theoretical models of valuing risky corporate securities, risk of default is primary component in the overall yield spread. However, sizable empirical literature considers it otherwise by giving more importance to non-default risk factors. Current study empirically attempts to provide answer to this question by […]

Intertemporal Poverty comparisons

Mardi | 2011-11-08 B103 Florent BRESSON – Jean-Yves DUCLOS The paper deals with poverty orderings when the value of multidimensional attributes can be compared on a same scale, such as with income of different types or from different members of the same household. The dominance criteria extend the power of earlier multidimensional dominance tests (see […]

A Test for Determinism in Spatial Processes

Mardi | 2011-10-19 C003 Manuel RUIZ-MARIN We propose the first statistical test to determine, given a spatial process, if the spatial structure is generated by a deterministic, rather than by a stochastic, process. The conditions under which the test can be applied are really weak. The advantages of the presented methods are simplicity, invariance respect […]

What type of financing for innovative companies? Analysis of investment decisions by venture capitalists – Evidence from a theoretical model of venture capital financing in biotechnology companies

Mercredi | 2011-10-12 William TELKES Nowadays, many biotechnology companies are the source of scientific and technological breakthroughs and this is especially true in the pharmaceutical industry. However, developing such innovations is particularly risky. As these innovative ventures evolve in a context of high uncertainty and as their financial needs are quite large, especially when it […]