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...

This article questions the role of the fair value approach in the worsening of the present financial crisis by testing its impact on the performance on the Stock Exchange of the CAC 40 companies for which the application of the IAS 39 standard is compulsory. To that end, the authors propose...

Une approche pluridisciplinaire : fondamentaux de la gestion financière, l'investment banking, l'évaluation d'entreprise...

Having been introduced in the European Union and in many other countries, the equal opportunity rule is seen as protecting investors in the event of a transfer of control. This rule should be analyzed in a context of appropriation of private benefits between the new controlling shareholders and...

In the theoretical framework of corporate governance this article studies the efficiency of the control exerted by the ownership structure and the board of directors on managers. The confrontation of entrenchment theory and agency theory allows to determine the necessary conditions of the...

Cet article s'inscrit dans le prolongement des travaux concernant l'évaluation des sociétés et de la dette par la théorie des options. Dans un premier temps, nous rappelons les principaux résultats concernant la lecture optionnelle du bilan. Dans un deuxième temps, nous introduisons les...