This article studies the construction and development of the market for Exchange Traded Funds in France between 2000 and 2009. Building on a longitudinal qualitative study of the French ETF market, we present the multiple regulatory and institutional challenges that had to be tackled before ETFs...

This paper investigates how the introduction of an index security directly or indirectly impacts the underlying-index spot-futures pricing. Using intraday data for financial instruments related to the CAC 40 index, we do not find that the spot-futures price efficiency improvement observed after...

This exploratory research, realized on the firms that constituted the CAC 40 index from 2000 to 2003, shows that cost reduction programs announcements have a positive impact on shareholders value. Stock market reactions depend on whether firms are in financial crisis or not but are independant...

Regime complexes are arrays of institutions with partially overlapping mandates and memberships. As tensions frequently arise among these institutions, there is a growing interest geared to finding strategies to reduce them. Insights from regime theory, science and technology studies, and social...

La méthode d’estimation des coûts de transaction de Lesmond, Ogden et Trzcinca (Review of Financial Studies ; 1999) offre une alternative aux travaux basés sur des données intrajournalières. Sur la base des seules rentabilités quotidiennes, la régression d’un modèle Tobit avec...

Cette recherche exploratoire réalisée sur les entreprises du CAC 40 entre 2000 et 2003 montre que les annonces de programmes de réduction de coûts ont un impact positif sur les cours de bourse. Les réactions du marché dépendent de la santé financière de l’entreprise mais sont...