A5002575032- Financial Markets and Investment Strategies
- Social Sciences and Governance
- Banking stability, regulation, efficiency
- European Monetary and Fiscal Policies
- Corporate Finance and Governance
- Financial Reporting and Valuation Research
- Private Equity and Venture Capital
- Complex Systems and Time Series Analysis
- Auditing, Earnings Management, Governance
- German Economic Analysis & Policies
- Economic theories and models
- Risk Management in Financial Firms
- Global Financial Crisis and Policies
- Agriculture and Rural Development Research
- Capital Investment and Risk Analysis
- Economic Theory and Policy
- Financial Risk and Volatility Modeling
- Monetary Policy and Economic Impact
- Experimental Behavioral Economics Studies
- Stock Market Forecasting Methods
- Game Theory and Applications
- Energy, Environment, Economic Growth
- Insurance and Financial Risk Management
- Auction Theory and Applications
- French Urban and Social Studies
Solvay (Belgium)
2003-2024
Université Paris 1 Panthéon-Sorbonne
2012-2024
Proteogenomics Research Institute for Systems Medicine
2004-2022
Université Paris Cité
2008-2021
Sorbonne Université
2005-2015
Labex (Sweden)
2013
Université Libre de Bruxelles
2008
Centre de Recherche en Économie et Management
2003
Centre Lillois d'Etudes et de Recherches Sociologiques et Economiques
1999-2002
Institut Régional d’Administration de Lille
2000-2002
Abstract: We examine the role of reputation when firms use dividends to signal their profitability. analyze a signaling model in which plays no equilibrium. then show that taking into account as link between sequential dividend decisions makes it possible endogenize costs and obtain separating Lastly, we reversibility hypothesis assume each period, managers can reverse choices terms distribution. find most cases, equilibrium becomes unstable, causing any policy become difficult implement.
Abstract Historically, most convertible bond (CB) issues have been converted to equity sooner or later. The announcement of a CB issue will bring about future dilution the firm's capital, and is often followed by drop in share price. However, itself creates value for shareholders if it enables firm make profitable investments. It can also positive signal regarding restructuring financial liabilities its attempts optimise structure. These effects, they occur, develop gradually after issue,...
This paper introduces an investor-specific risk measure derived from the linear-exponential (linex) utility function. It combines notions of perception and aversion. To make this interpretable comparable with others like variance or value-at-risk, it is translated into Equivalent Risky Allocation (ERA), where value matched one a selected benchmark. We demonstrate that portfolio allocations are sensitive to perception. The linex provides more stable closer target profile than variance, while...
Nous étudions l’hypothèse d’efficience des marchés au niveau intra-journalier en analysant les réactions du marché aux tweets négatifs et rapports publiés sur Internet par un vendeur à découvert. À l’aide d’études d’événements, nous constatons que investisseurs peuvent générer profit anormal, faible mais significatif, passant ordres très rapidement suite informations publiques publiées réseaux sociaux. La réaction est plus forte lorsqu’une entreprise mentionnée pour la première fois Twitter,...
This paper develops a new framework to study investor attention in real time at high frequency. Using information retrieval approach, we construct proxy for from the Twitter messages of financial experts, hedge funds and portfolio managers around release unscheduled news announcements. We then examine how markets react absence presence attention. On implementing our methodology with high-frequency data large-cap U.S. stocks, find evidence that events receiving on social media lead large...