À l’origine de cette thèse se trouve la question suivante : « Qu’est-ce qui rend possible et justifie que les licenciements économiques soient de plus en plus nombreux dans les entreprises en bonne santé ? » Autrement dit : « en quoi les décisions de licenciement sont-elles des...

Using a data set which is largely free of survivorship bias, this study analyzes the persistence of the performance of French equity funds from 1993 to 2002. The main empirical result is that persistence, although detected in some years, appears to be a quite unstable phenomenon, strongly...

(VF)Cet article propose d'étudier la stabilité des performances de certains fonds de retraite anglais. Nos résultats montrent que les fonds investis en actions sont caractérisés par une réversion de leurs performances alors que les fonds obligataires connaissent une certaine pérennité...

We compare the optimal trading strategy of an informed speculator when he can trade ahead of incoming news (is "fast"), versus when he cannot (is "slow"). We find that speed matters: the fast speculator's trades account for a larger fraction of trading volume, and are more correlated with...

ABSTRACT & RÉSUMÉ : Digitalization in Sub-Saharan Africa enhanced the accessibility of communications by the majority of the poor who had been excluded among others from social media, independent information channels, mobile banking and e-commerce. The creation of new economic opportunities,...

This article aims to show how crowdfunding can be a catalyst for entrepreneurship in Morocco. To this end, we propose to elucidate, first of all, the concept of crowdfunding, its mode of operation, and its different typologies. Second, we highlight the state of play of crowdfunding and its...

Microfinance is often addressed in the literature as a tool to fight against poverty. Microcredit offers an opportunity to improve the standard of living for people who find it difficult to access the financial system. The purpose of the microfinance market is to occupy the situation of poverty...