Performance boursière des fusions-acquisitions dans le secteur bancaire

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ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (819 download)

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Book Synopsis Performance boursière des fusions-acquisitions dans le secteur bancaire by : Nabil Bikourane

Download or read book Performance boursière des fusions-acquisitions dans le secteur bancaire written by Nabil Bikourane and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: ACette thèse étudie le lien entre les caractéristiques des conseils d'administration des banques acquéreuseset la performance boursière à court terme de celles-ci, analysée grâce à la méthodologie d'étude d'événement.L'objectif étant de vérifier si la structure des conseils contribue à l'atténuation des conflits d'intérêts àl'occasion des opérations de fusions-acquisitions (F&A) et crée, par conséquent, de la valeur. Deux effets ontété mis en avant. Le premier suppose une influence directe de chacune des caractéristiques du conseil sur lesrendements anormaux de l'acquéreur ; tandis que le second, introduit l'effet médiateur de la prime de contrôlepayée, en considérant que la structure du conseil influence le pouvoir de négociation de ses membres et leurengagement dans l'intérêt des actionnaires. Pour ces deux effets, nous contrôlons certains déterminants de laperformance relatifs à la transaction et aux banques impliquées.Nos résultats indiquent que les marchés financiers ont des attentes vis-à-vis des conseils lors de cesopérations, car nous avons relevé une incidence favorable sur les rendements anormaux de la présence depersonnalités extérieures en proportion significative au conseil de l'acquéreur et de l'absence de dualité dedirection dans celui-ci. Par ailleurs, en contrôlant le choix de la méthode de paiement, nous avons égalementrelevé que l'utilisation du cash est fortement associé à des rendements positifs pour l'acquéreur.

Les fusions et acquisitions des banques européennes dans le monde

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ISBN 13 :
Total Pages : 806 pages
Book Rating : 4.:/5 (866 download)

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Book Synopsis Les fusions et acquisitions des banques européennes dans le monde by : Georges Pujals

Download or read book Les fusions et acquisitions des banques européennes dans le monde written by Georges Pujals and published by . This book was released on 2009 with total page 806 pages. Available in PDF, EPUB and Kindle. Book excerpt: Au cours des vingt dernières années, l’Europe bancaire a été le témoin d’une vague sans précédent de fusions et acquisitions. Toutefois, les quelques rares tentatives qui ont été menées afin d’évaluer la performance de ces opérations font apparaître la fréquence des échecs et l’ambiguïté des informations fournies par les différentes approches utilisées. Après avoir présenté au sein d’une première partie leurs principales caractéristiques et mis en évidence les différentes stratégies menées par les grands acteurs, nous avons cherché dans une deuxième partie à en évaluer leur performance. A cet effet, deux méthodologies complémentaires ont été utilisées : une étude d’événements autour de la date d’annonce puis une analyse à long terme par les ratios financiers. Nos résultats font ressortir trois principales conclusions. Tout d’abord, nous obtenons que les fusions-acquisitions réalisées par les banques européennes ont globalement été créatrices de valeur. Ainsi, cela nous conduit à rejeter les hypothèses d’agence et d’hubris. A l’instar des travaux empiriques antérieurs, nous observons par ailleurs une asymétrie dans la répartition des gains au profit des cibles. Enfin, nous constatons que plusieurs déterminants sont susceptibles d’influencer la réussite versus l’échec de ces opérations. Dès lors, il semblerait que la performance des fusions-acquisitions bancaires soit donc, en partie, prévisible.

Banking Consolidation in the EU

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Publisher : CEPS
ISBN 13 : 9789290794790
Total Pages : 108 pages
Book Rating : 4.7/5 (947 download)

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Book Synopsis Banking Consolidation in the EU by : Rym Ayadi

Download or read book Banking Consolidation in the EU written by Rym Ayadi and published by CEPS. This book was released on 2004 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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Author :
Publisher : Editions Bréal
ISBN 13 : 2749520134
Total Pages : 97 pages
Book Rating : 4.7/5 (495 download)

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Book Synopsis by :

Download or read book written by and published by Editions Bréal. This book was released on with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Index de Périodiques Canadiens

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Publisher :
ISBN 13 :
Total Pages : 1864 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Index de Périodiques Canadiens by :

Download or read book Index de Périodiques Canadiens written by and published by . This book was released on 1998 with total page 1864 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Single Market News

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ISBN 13 :
Total Pages : 210 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Single Market News by : European Commission. Directorate-General XV, Internal Market and Financial Services

Download or read book Single Market News written by European Commission. Directorate-General XV, Internal Market and Financial Services and published by . This book was released on 2000 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Globalizing Race

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Publisher : Northwestern University Press
ISBN 13 : 0810136902
Total Pages : 526 pages
Book Rating : 4.8/5 (11 download)

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Book Synopsis Globalizing Race by : Dorian Bell

Download or read book Globalizing Race written by Dorian Bell and published by Northwestern University Press. This book was released on 2018-04-15 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalizing Race explores how intersections between French antisemitism and imperialism shaped the development of European racial thought. Ranging from the African misadventures of the antisemitic Marquis de Morès to the Parisian novels and newspapers of late nineteenth-century professional antisemites, Dorian Bell argues that France’s colonial expansion helped antisemitism take its modern, racializing form—and that, conversely, antisemitism influenced the elaboration of the imperial project itself. Globalizing Race radiates from France to place authors like Guy de Maupassant and Émile Zola into sustained relation with thinkers from across the ideological spectrum, including Hannah Arendt, Friedrich Nietzsche, Frantz Fanon, Karl Marx, Max Horkheimer, and Theodor Adorno. Engaging with what has been called the “spatial turn” in social theory, the book offers new tools for thinking about how racisms interact across space and time. Among these is what Bell calls racial scalarity. Race, Bell argues, did not just become globalized when European racism and antisemitism accompanied imperial penetration into the farthest reaches of the world. Rather, race became most thoroughly global as a method for constructing and negotiating the different scales (national, global, etc.) necessary for the development of imperial capitalism. As France, Europe, and the world confront a rising tide of Islamophobia, Globalizing Race also brings into fascinating focus how present-day French responses to Muslim antisemitism hark back to older, problematic modes of representing the European colonial periphery.

Capital and the Debt Trap

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Publisher : Springer
ISBN 13 : 023030852X
Total Pages : 289 pages
Book Rating : 4.2/5 (33 download)

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Book Synopsis Capital and the Debt Trap by : Claudia Sanchez Bajo

Download or read book Capital and the Debt Trap written by Claudia Sanchez Bajo and published by Springer. This book was released on 2011-08-30 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis is destroying wealth but is also a remarkable opportunity to uncover the ways by which debt can be used to regulate the economic system. This book uses four case studies of cooperatives to give an in-depth analysis on how they have braved the crisis and continued to generate wealth.

PROMOTION DE LA SANTE ET AUTONOMISATION DANS LE CONTEXTE AFRICAIN

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Publisher : Lulu.com
ISBN 13 : 1291761152
Total Pages : 327 pages
Book Rating : 4.2/5 (917 download)

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Book Synopsis PROMOTION DE LA SANTE ET AUTONOMISATION DANS LE CONTEXTE AFRICAIN by : David HouŽto

Download or read book PROMOTION DE LA SANTE ET AUTONOMISATION DANS LE CONTEXTE AFRICAIN written by David HouŽto and published by Lulu.com. This book was released on 2014-02-26 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Le terme promotion de la santé en Afrique, près de 30 ans après l'adoption de la Charte d'Ottawa, continue d'avoir des connotations complètement hors du sens que lui confère cette charte. Cela n'est pas étonnant quand on sait que la notion de santé dans ce contexte africain équivaut à la lutte contre la maladie à travers les soins de santé dispensés par des professionnels de la santé dans des formations sanitaires et les hôpitaux. L'évolution que connait le continent depuis quelques décennies est de donner un peu plus de place à la communauté à travers les relais communautaires dans une participation communautaire vidée de son contenu, car le pouvoir n'est jamais passé entre les mains des communautés.C'est au vu de tout ceci que le présent ouvrage à sa raison d'être pour expliquer les fondements de l'autonomisation communautaire et de la promotion de la santé avec leur importance pour la région africaine en proie aux mauvais indicateurs de santé comparativement aux autres régions du monde.

Revised Treaty

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Publisher : Presses de L'Ub
ISBN 13 :
Total Pages : 258 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Revised Treaty by : Economic Community of West African States

Download or read book Revised Treaty written by Economic Community of West African States and published by Presses de L'Ub. This book was released on 1995 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Inefficient Markets

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Publisher : OUP Oxford
ISBN 13 : 0191606898
Total Pages : 295 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis Inefficient Markets by : Andrei Shleifer

Download or read book Inefficient Markets written by Andrei Shleifer and published by OUP Oxford. This book was released on 2000-03-09 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: The efficient markets hypothesis has been the central proposition in finance for nearly thirty years. It states that securities prices in financial markets must equal fundamental values, either because all investors are rational or because arbitrage eliminates pricing anomalies. This book describes an alternative approach to the study of financial markets: behavioral finance. This approach starts with an observation that the assumptions of investor rationality and perfect arbitrage are overwhelmingly contradicted by both psychological and institutional evidence. In actual financial markets, less than fully rational investors trade against arbitrageurs whose resources are limited by risk aversion, short horizons, and agency problems. The book presents and empirically evaluates models of such inefficient markets. Behavioral finance models both explain the available financial data better than does the efficient markets hypothesis and generate new empirical predictions. These models can account for such anomalies as the superior performance of value stocks, the closed end fund puzzle, the high returns on stocks included in market indices, the persistence of stock price bubbles, and even the collapse of several well-known hedge funds in 1998. By summarizing and expanding the research in behavioral finance, the book builds a new theoretical and empirical foundation for the economic analysis of real-world markets.

The Paradoxes of Globalisation

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Publisher : Palgrave Macmillan
ISBN 13 : 9781349326518
Total Pages : 302 pages
Book Rating : 4.3/5 (265 download)

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Book Synopsis The Paradoxes of Globalisation by : E. Milliot

Download or read book The Paradoxes of Globalisation written by E. Milliot and published by Palgrave Macmillan. This book was released on 2010-10-27 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: World economy globalization is driven by multiple interactive forces. Theygive rise to a number of paradoxes that impact the functional and developmental characteristics of firms. This book offers for the first time an in-depth study of the logical contradictions that stream from economic integration on the supranational level.

Your Mindful Compass

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Publisher :
ISBN 13 : 9780615928791
Total Pages : 318 pages
Book Rating : 4.9/5 (287 download)

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Book Synopsis Your Mindful Compass by : Andrea Maloney Schara

Download or read book Your Mindful Compass written by Andrea Maloney Schara and published by . This book was released on 2013-12-01 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Your Mindful Compass" takes us behind the emotional curtain to see the mechanisms regulating individuals in social systems. There is great comfort and wisdom in knowing we can increase our awareness to manage the swift and ancient mechanisms of social control. We can gain greater flexibility by seeing how social controls work in systems from ants to humans. To be less controlled by others, we learn how emotional systems influence our relationship-oriented brain. People want to know what goes on in families that give rise to amazing leaders and/or terrorists. For the first time in history we can understand the systems in which we live. The social sciences have been accumulating knowledge since the early fifties as to how we are regulated by others. S. Milgram, S. Ashe, P. Zimbardo and J. Calhoun, detail the vulnerability to being duped and deceived and the difficulty of cooperating when values differ. Murray Bowen, M.D., the first researcher to observe several live-in families, for up to three years, at the National Institute of Mental Health. Describing how family members overly influence one another and distribute stress unevenly, Bowen described both how symptoms and family leaders emerge in highly stressed families. Our brain is not organized to automatically perceive that each family has an emotional system, fine-tuned by evolution and "valuing" its survival as a whole, as much as the survival of any individual. It is easier to see this emotional system function in ants or mice but not in humans. The emotional system is organized to snooker us humans: encouraging us to take sides, run away from others, to pressure others, to get sick, to blame others, and to have great difficulty in seeing our part in problems. It is hard to see that we become anxious, stressed out and even that we are difficult to deal with. But "thinking systems" can open the doors of perception, allowing us to experience the world in a different way. This book offers both coaching ideas and stories from leaders as to strategies to break out from social control by de-triangling, using paradoxes, reversals and other types of interruptions of highly linked emotional processes. Time is needed to think clearly about the automatic nature of the two against one triangle. Time and experience is required as we learn strategies to put two people together and get self outside the control of the system. In addition, it takes time to clarify and define one's principles, to know what "I" will or will not do and to be able to take a stand with others with whom we are very involved. The good news is that systems' thinking is possible for anyone. It is always possible for an individual to understand feelings and to integrate them with their more rational brains. In so doing, an individual increases his or her ability to communicate despite misunderstandings or even rejection from important others. The effort involved in creating your Mindful Compass enables us to perceive the relationship system without experiencing it's threats. The four points on the Mindful Compass are: 1) Action for Self, 2) Resistance to Forward Progress, 3) Knowledge of Social Systems and the 4) The Ability to Stand Alone. Each gives us a view of the process one enters when making an effort to define a self and build an emotional backbone. It is not easy to find our way through the social jungle. The ability to know emotional systems well enough to take a position for self and to become more differentiated is part of the natural way humans cope with pressure. Now people can use available knowledge to build an emotional backbone, by thoughtfully altering their part in the relationship system. No one knows how far one can go by making an effort to be more of a self-defined individual in relationships to others. Through increasing emotional maturity, we can find greater individual freedom at the same time that we increase our ability to cooperate and to be close to others.

Global Gold Production Touching Ground

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Publisher : Springer Nature
ISBN 13 : 3030384861
Total Pages : 379 pages
Book Rating : 4.0/5 (33 download)

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Book Synopsis Global Gold Production Touching Ground by : Boris Verbrugge

Download or read book Global Gold Production Touching Ground written by Boris Verbrugge and published by Springer Nature. This book was released on 2020-05-04 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades, gold mining has moved into increasingly remote corners of the globe. Aside from the expansion of industrial gold mining, many countries have simultaneously witnessed an expansion of labor-intensive and predominantly informal artisanal and small-scale gold mining. Both trends are usually studied in isolation, which contributes to a dominant image of a dual gold mining economy. Counteracting this dominant view, this volume adopts a global perspective, and demonstrates that both industrial gold mining and artisanal and small-scale gold mining are functionally integrated into a global gold production system. It couples an analysis of structural trends in global gold production (expansion, informalization, and technological innovation) to twelve country case studies that detail how global gold production becomes embedded in institutional and ecological structures.

European Tax Law

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Publisher : Springer
ISBN 13 :
Total Pages : 400 pages
Book Rating : 4.3/5 (511 download)

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Book Synopsis European Tax Law by : Ben Terra

Download or read book European Tax Law written by Ben Terra and published by Springer. This book was released on 1997-08-27 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although a genuine European tax hardly exists as such, the EC policy of aligning national taxes and tax policies insofar as is necessary for a common market affects taxation and tax law in all Member States. European Tax Law systematically surveys the EC tax rules that arise from this policy and their implications. It provides a detailed discussion of European integration and Community tax harmonisation policy, with practical analysis of all the relevant Community tax rules, in force and pending. The book's clear, straightforward coverage includes: tax measures already taken at the Community level and their legal basis; the current state of positive harmonisation as manifested in EC regulations and directives; the effect of 'negative integration' (such as prohibition of discrimination) that limits Member States' freedom to arrange their own national tax systems; the surprising effect of national habits and couleur locale ; and the consequences of general (non-fiscal) Community law for national tax laws as it emerges in the case law of the European Court of Justice. European Tax Law includes an extensive index and a table of cases for easy access to information. Practitioners, academics, and advanced students of tax law and EC law will value the lucid, ordered, and comprehensive coverage of this resource.

Comparing Financial Systems

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Publisher : MIT Press
ISBN 13 : 9780262011778
Total Pages : 524 pages
Book Rating : 4.0/5 (117 download)

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Book Synopsis Comparing Financial Systems by : Franklin Allen

Download or read book Comparing Financial Systems written by Franklin Allen and published by MIT Press. This book was released on 2000 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do different countries have such different financial systems? Is one system better than the other? This text argues that the view that market-based systems are best is simplistic, and suggests that a more nuanced approach is necessary.

Bank Profitability - Statistical Supplement

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Publisher :
ISBN 13 :
Total Pages : 94 pages
Book Rating : 4.3/5 (512 download)

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Book Synopsis Bank Profitability - Statistical Supplement by : Organisation for Economic Co-operation and Development

Download or read book Bank Profitability - Statistical Supplement written by Organisation for Economic Co-operation and Development and published by . This book was released on 1987 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: