We characterize the competitive equilibrium on the credit market when borrowers can strategically default. We assume that the audit is subject of errors of the two types and that lenders cannot commit ex-ante. We determine the penalty, the loan rate, the audit and strategic default...

This paper presents a theory for Islamic venture capital namely ‘Mudharabah’ contract under adverse selection problem. In order to avoid selecting a low type entrepreneur for a given good project, the framework defines the profit sharing ratio (PSR) as a screening device. We then develop a...

This paper presents a theory for Islamic venture capital namely ‘Mudharabah’ contract under adverse selection problem. In order to avoid selecting a low type entrepreneur for a given good project, the framework defines the profit sharing ratio (PSR) as a screening device. We then develop a...

Islamic and conventional investment funds have the same purpose. However, unlike conventional funds, Islamic funds offer different investment contracts and have to invest in accordance with a set of selection rules. This dissertation focuses on developing theoretical and empirical analysis...

This paper is the first to draw a global picture of worldwide microfinance equity by taking full advantage of daily quoted prices. We revisit previous findings showing that investors should consider microfinance as a self-standing sector. Our results are threefold. First, microfinance has become...

The purpose of this research is to explore the combining of marketing and organizational literature. This paper seeks to evaluate the relationships between multichannel coordination and customer participation, as seen through the lens of potential customer opportunism. It aims at showing the...

Trust is a crucial factor in e-commerce. However, consumers are less likely to trust unknown Web sites. This study explores how less-familiar e-commerce Web sites can use branding alliances and Web site quality to increase the likelihood of initial consumer trust. We use the associative network...

An organic label offers a market signal for producers of organic food products. In Western economies, the label has gained high recognition, but organic food still represents a small part of total food consumption, which raises questions about the label's efficacy. By considering organic labels...

La maîtrise du risque sanitaire des aliments fait partie intégrante de la stratégie des firmes agro-alimentaires. Ces entreprises mettent en place des dispositifs organisationnels aptes à générer une maîtrise efficiente des risques, à travers la conformation à des référentiels assez...