This article examines whether the extra-financial performance of countries on environmental, social and governance (ESG) factors matter for sovereign bonds markets. We propose an econometric analysis of the relationship between ESG performances and government bond spreads of 23 OECD countries...

This article examines whether the extra-fi nancial performance of countries on environmental, social and governance (ESG) factors matter for sovereign bonds markets. We propose an econometric analysis of the relationship between ESG performances and government bond spreads of 23 OECD countries...

Selon les travaux sur la qualité de l'emploi, l'environnement de travail peut avoir un impact sur la perception de l'emploi des individus et ainsi influencer leurs comportements d'activité. De ce fait, une bonne ambiance au travail devrait affecter positivement le niveau d'effort des...

According to the dividend discount model (DDM), a long run relationship should exist between stock prices and dividends. In this study, in order to test the validity of the DDM on the French, German, Japanese, UK and US stock markets from 1973 to 2002, cointegration tests corrected for skewness...

L'objectif de cet article est de verifier s'il est possible d'ameliorer l'evaluation des options sur indice CAC 40 grace a une meilleure estimation des parametres d'asymetrie et d'aplatissement de la fonction de distribution de l'actif sous-jacent.

L'objet de cet article est de tester la presence de causalite lineaire et non-lineaire au sens de Granger entre l'indice CAC 40 et les options sur indice en 1997 et 1998. Nos resultats indiquent que le marche au comptant precede le marche des options de 20 a 30 minutes, signe que le MONEP n'est...

This paper surveys the economic literature on Corporate Environmental Responsibility (CER). It first defines and illustrates what CER is, and what it is not (namely green washing). It then examines various rationales for firms to implement CER programs: to respond to social pressure, pre-empt...

This paper analyzes how different combinations of Corporate Social Responsibility (CSR) dimensions affect corporate economic performance. We use various dimensions of CSR to examine whether firms rely on different combinations of CSR, in terms of quality versus quantity of CSR practices. Our...

This paper develops a two-way director-firm fixed effect model to study the relationship between independent directors' individual heterogeneity and firm operating performance, using French data. This strategy allows considering and differentiating in a unified empirical framework mechanisms...

This paper sheds light on the impact that environmental, social and governance (ESG) corporate practice disclosure has on equity financing. We present a unique framed field experiment in which professional private equity investors competed in closed auctions to acquire fictive firms. We hence...