Bien qu'elle soit encore assez peu usitée, la notion de capital immatériel représente une source non négligeable de création de valeur au sein des réseaux bancaires.Trois composantes distinctes mais interconnectées entre elles, sont à l'origine de ce concept.

The aim of this research is to identify and explain the main strategies conducted by the major European banks in emerging markets. What are the similarities and the differences between European banks concerning, first, their entry onto developing markets and, second, the level of integration of...

This article by Bernard Marois analyses the European strategies of French banks with the background of the Single European Market. In the early 1990s, the banks adopted a variety of strategies to 'Europeanise', but generally the model of a Europe-wide universal bank failed. In the same period,...

[eng] The deterioration of the climate of investments abroad leads enterprises to estimate more precisely politic risks.. So, new systems for measuring these risks have been lately perfected, inclusive in France.. In this article, the authors review the classical methods before drawing up a...

<title>Abstract</title> This paper examines the effect of CEO risk appetite on the return volatility of a sample of large, listed financial firms over the period 2000--2008. After controlling for firm specific characteristics, the results give strong evidence that the CEO risk appetite has an important effect...

In this paper we show that by assuming a constant variance/covariance matrix over the holding period, the VaR limits can often be exceeded within the relevant horizon period. To minimize this risk, we formulate the problem in terms of portfolio selection and propose an innovative methodology...

This paper studies some properties of stochastic dominance (SD) for risk-averse and risk-seeking investors, especially for the third order SD (TSD). We call the former ascending stochastic dominance (ASD) and the latter descending stochastic dominance(DSD). We first discuss the basic property of...