The aim of this research is to examine the structural changes of European carbon futures price under the European Union Emissions Trading Scheme (EU ETS) during 2005-2012. More speci fically, by relying on the daily EU allowance (EUA) futures contract, we investigate the structural changes of...

Internet is not simply one more distribution channel among the multi-channel strategies used by the financial industry; it is fostering new "e-Business Models" such as Internet-primary banks. However, in spite of its strong development potential, this type of bank has often achieved a weak...

The microfinance sector is relatively new in Armenia, and has shown significant increase over the last decade. We designed a qualitative research to explore the main characteristic and adaptation strategies of the microfinance sector in this country. Our findings indicate that the emergence of...

De nombreuses recherches (Costa et Bamossy, 2001; Grayson et Martinec, 2004; Yeoman et

This note provides an intuitive and simple proof of the existence of equilibrium in an incomplete ffnancial economy with numeraire assets, when the preferences are represented by concave, strictly increasing functions..

In this paper, we investigate whether or not nominal devaluation leads to real devaluation in Laos by using the ARDL bounds testing and the Granger causality test in a VECM framework. Our empirical evidence shows that nominal devaluation Granger causes real devaluation in short run and long run....

The debate over the under-performance or the over-performance of Islamic funds is not over yet. Hence, our literature review exhibits that all the previous works studied the Islamic equity funds without exploring the persistence of their performance, even if this issue is very important to...

Dans le contexte d’innovation intensive que nous connaissons depuis les années 1990, deux courants managériaux se sont avérés incontournables. D’une part, le management de projet qui permet une organisation optimale des ressources de l’entreprise pour la satisfaction d’un besoin...

The introduction of Euro currency was a game-changing event intended to induce convergence of

This paper attempts to evaluate the time-varying integration of Australian stock market in ASEAN-5 region (ASEAN + Australia, Korea, China, India and Japan) by using a conditional version of the international capital asset pricing model (ICAPM) allowing for dynamic changes in the degree of...