Tesi sul tema "Capitalistes et financiers juifs"
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Ben, Mansour Kharraz Sélima Jouini Elyes. "Hétérogénéité des croyances et équilibre des marchés financiers". [S.l.] : [s.n.], 2009. http://basepub.dauphine.fr/xmlui/handle/123456789/1161.
Testo completoBen, Mansour Kharraz Sélima. "Hétérogénéité des croyances et équilibre des marchés financiers". Paris 9, 2009. https://bu.dauphine.psl.eu/fileviewer/index.php?doc=2009PA090010.
Testo completoIn this thesis, we propose to test a new behavioral explanation of the equity premium puzzle. This work is based on the heterogeneous beliefs model of Jouini and Napp (2007) according to which, pessimism of investors at the aggregate level leads to very important risk premiums. In this model, agents’ pessimism refers to an underestimation of the average rate of return of assets: while pessimistic agents require a market price of risk identical to the standard agent one, they overestimate the risk associated with assets and the resulting equity premium is therefore increased. There is no need, in this setting, for all investors to be pessimistic. Pessimism at the aggregate level is sufficient in order to ensure an increase in the equity premium. Even if the average belief is neutral, it’s possible to have pessimism at the aggregate level through a positive correlation between optimism and risk aversion. Based on this conclusion, we identify the conditions under which the excess returns of securities are consistent with agents’ pessimism. Our aim is to investigate if there is a positive correlation between optimism and risk aversion through a survey and laboratory experiments
Franch, Benavent Ricardo. "El capital comercial valenciano en el siglo XVIII /". Valencia : Departamento de historia moderna, Universitat de València, 1989. http://catalogue.bnf.fr/ark:/12148/cb354837618.
Testo completoDebrut, Valérie. "Le banquier actionnaire". Poitiers, 2012. http://www.theses.fr/2012POIT3015.
Testo completoThe notion of the bank as a shareholder as discussed in this thesis refers to a bank financing a corporate entity by acquiring shares therein or by acquiring a corporation’s share capital or a portion thereof. Because the acquisition by a bank of an interest in a corporation in this manner implies an infusion of capital, a bank acquiring shares in a corporation is a means by which the corporation can be financed. This approach therefore represents a particular method by which a corporation can be financed since it requires the bank to assume risk in its capacity as a shareholder and entitles the bank to participate in the corporation’s affairs. Risk taking in this context is poorly controlled and involvement in corporate affairs at times translates into interference in the economy as a whole. Moreover, banks have the dual role of being depositaries of public savings, while being responsible for financing corporations. Banking activity therefore is not only a commercial activity, but an activity of general interest. These interests require that banks acquiring shares in corporate entities be better supervised than they are at present. Thus, the notion of the bank as a shareholder requires one to question means by which corporations are financed and the role of banks in the economy. Upon inquiry, the notion of the bank as shareholder appears compatible with the more traditional role of banks in the economy on the condition, however, that certain conditions be met, including, among others, appropriate prudential regulations
Jamgocyan, Onnik. "Les finances de l'empire Ottoman et les financiers de Constantinople (1732-1853)". Online version, 1988. http://bibpurl.oclc.org/web/34833.
Testo completoVaxevanoglou, Alice. "Les capitalistes grecs au début du XXe siècle : profil économique et soical". Paris 1, 1990. http://www.theses.fr/1990PA010621.
Testo completoIn greece the economic developement didn't change the structure of the economic power though, there is an important professional mobility which concerne only the ruling class; greek capitalists, as well as the other members of the ruling class have some special sociological caracteristics they concentrate a lot of powers in all kind of social, political economical, paths. Finally, the socio-professional organisations of capitalists (associations of commercants, industrialists, and even the chamber of athens) were not able to organize the greek society
Claeys, Thierry. "Les financiers du XVIIIe siècle : les institutions et les hommes". Paris 4, 2004. http://www.theses.fr/2004PA040114.
Testo completoThe subject of this dissertation is a study of the circles of financiers in the eighteenth century France. They formed two groups : the one of the officers of finances and the one of the farmers. Some of them were tax collectors (the general receivers of finances and the tax farmers), the others were in charge of the royal expenditures and dept (the keepers of the royal revenue, the general treasurers, and the funds payers). The first part is a study of their social origins, their education, their way of life, their fortunes, their economical and cultural weight. The second part presents the evolution of the financial institutions, from 1715 to 1793, the differents ministers of finances policies, and finaly, the inability of the french monarchy to reform the fiscal system. The last part deals with the fall of the financial society in the same time of the Old Regime, their political role in favour of or against the Revolution, and the physical elimination of lots of them during de Terror
Jarvie, Paul A. "Ready to trample on all human law : financial capitalism in the fiction of Charles Dickens /". New York : Routledge, 2005. http://catalogue.bnf.fr/ark:/12148/cb40061135w.
Testo completoFournier, Héritier Monique. "Financiers et entrepreneurs dans l'Espagne de la "Restauración" : images littéraires et réalité historique". Paris 12, 1995. http://www.theses.fr/1995PA120059.
Testo completoReflexions about spanish economic retardation in relation to other european countries. We asked ourselves if the image of the businessman is perceived by the readers of spanish novels of the time could be of any help in explaining the state of spanish economic growth. The first part of the thesis describes the entrepreneurs as shown in the contemporary spanish novels. The second part is devoted to the analysis of the social type by the spanish sociologists and philoosphers of the time. In the last part of the work, we try to compare both approaches with the works of some actual spanish economic historians. Our conclusions are that the shortcomings of the litterary descriptions cannot influence the reader's vision of the spanish economic elite and so, whatsoever the course of national economic evolution
Gobe, Éric. "Les hommes d'affaires égyptiens et le pouvoir d'état : libéralisation économique et perspectives de démocratisation dans l'Egypte de l'ouverture : 1974-1994". Aix-Marseille 3, 1996. http://www.theses.fr/1996AIX32045.
Testo completoChallenges of the moment while maintening the supremacy of the ruling elite
Troudi, Oueslati Sarra. "Impact de la gouvernance sur la performance bancaire après la libéralisation financière en Tunisie". Paris 5, 2009. http://www.theses.fr/2009PA05D018.
Testo completoCHANOINE, JACQUES. "Recherche didactique sur la formation multireferentielle et l'histoire d'un milieu : la bourse". Paris 8, 1996. http://www.theses.fr/1996PA081200.
Testo completoLayman's intrusion into the stock-exchange of paris (la bourse) and the financial world. Middle then peripheral researcher's position facing the historical analyseur formed by the law of january 22d. 1988 when stock-brokers' offices where cancelled. Multidisciplinary research on origin and education of stock exchange professionals and especially stock-brokers. Monographic frame works of these professions, including financials who play with the stock- exchange. Future of the trade
Kong, Elodie. "Les financiers et l'art en France dans la seconde moitié du XVIIIème siècle". Thesis, Lille 3, 2016. http://www.theses.fr/2016LIL30015.
Testo completoOur study aims at questioning the artistic taste of the financiers of the eighteenth century, through the analysis of their behaviors vis-a-vis the different actors of the world of art. Whether financial collectors, financial amateurs, financial artists, or financial sponsors, these money handlers, sometimes jealous, sometimes adulated for their fortune, evolve in a complex sphere, where rivalry and eccentricity mundane mingle with the codes of decency And the magnificence of the noble society. Severely criticized in the eighteenth century, the financiers of the age of enlightenment were fully rehabilitated in society, perhaps thanks to their conformity with the habits and customs of their contemporaries. Seeking to equal their fellows in appearance, we may question the manner in which the financiers, whether general farmers, receivers of finance, or even treasurers, collect their works. Thus, is there a 'financial' way of collecting
Rios, Pozzi Diego. "L'École, le marché et la justice sociale : une étude sur les attitudes anticapitalistes des intellectuels". Paris 4, 2001. http://www.theses.fr/2001PA040191.
Testo completoSakuma, Kyoko. "Conformance and non conformance of asset managers to the environment, social and governance pressures: sensemaking capacities and the use of externally defined information". Doctoral thesis, Universite Libre de Bruxelles, 2012. http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/209675.
Testo completoOne important driver of this growth was the emergence of specialized research agencies that standardized measurement of companies’ environment, social, and governance (ESG) performance and sold such information as a tool to evaluate or pressure corporate conducts. More recently, sell-side research, financial news, and market-index providers joined the ESG information market, where they aim to support more mainstream asset managers in integrating ESG information into investment decisions.
A dominant assumption has taken hold in a large part of the investment and regulatory circles: asset managers’ use of ESG information will induce a behavioral change so that they automatically integrate companies’ sustainability to investment return concerns. Understandings of what constitutes sustainable investment have been largely practitioner-driven. The academic community took little interest to challenge the assumption. Remarkably, more scholars have come to assume that conformance to institutional pressures to add ESG information to investment strategies will induce more sustainable and long-term behavior of investors and companies. ESG information integration is believed to be a behavioral enabler for mainstream investors to systematically embed sustainability in investment strategies. Because of the assumption, theory building of asset manager intrinsic motivations to engage in sustainable investment remains unexplored. Main contribution of this research is to generate a deep theoretical understanding of asset manager non-conformance to the ESG pressure to engage in sustainable investment.
The research starts by questioning the dominant assumptions made in the sustainable investment field. While working in the industry, I witnessed some asset managers’ practices of replacing the externally defined ESG information with their own research based on narratives to better understand investee companies. The research question came out of this experience: why do some asset managers use ESG information to engage in sustainable investment while others do not? Do pressures to integrate ESG information really induce more sustainable behaviors on the part of asset managers? These self-inquiries led to a wide array of literature review to search for conformance and non-conformance drivers. Surprisingly, non-conformance was an under-researched theme. Given the scarcity of the research, I sought a method that would enable grounded theorizing based on asset managers’ own experience and interpretations.
Grounded theory research draws on asset manager interviews, archival documents, expert and practitioner consultations and feedback during 2007 and mid-2011. To reflect the global nature of sustainability, I focused on global equity asset managers working in thirteen institutions in three lead markets with most geographically diversified sustainable investment, UK, the Netherlands and Belgium.
Theory building from the ground up does not happen in vacuum. I developed a framework to study conformance and non-conformance drivers to facilitate the concept elicitation. The question of conformance and non-conformance has been studied by institutional, resource-based view of the firm, behavioral finance, cognitive and sensemaking theorists but in a disintegrated manner. I enhanced insights by way of aggregating and exploring the drivers. The framework illuminates the viability of both conformers and non-conformers in sustainable investment practices. Both are leadership activities of asset managers based respectively on explicit and implicit motivations. It illustrates short-term and opportunistic motivations of conforming managers, as opposed to long-term and substantial motivations of non-conforming managers to integrate sustainability and return-making in their investment decisions.
The research results presented hereafter provide a significant theoretical and empirical contribution. Drawing from insights and perspectives from the practitioners, a grounded theory model of asset manager conformance and non-conformance highlights a pivotal concept of sensemaking capacities. It reveals a counter intuitive pattern of asset manager learning. Non-conforming asset managers have developed a distinctive capacity to integrate sustainability and investment return concerns regardless of public pressures to do so. This distinctive sensemaking capacity, founded on behavioral integration of external expectations with own motivation, goal, competence and know-how, was the strategic resource for the organization. Their behavioral integration of sustainability and return generation is so highly developed, that adding the ESG information in their investment strategy would actually impair their capacity to make sense of sustainability. Indeed, I find that non-conforming asset manager teams have sustained consistent returns and increased client assets throughout the financial crisis. In absence of such behavioral integration and sensemaking capacities, conforming managers failed to sustain consistency or suffered from under-funding. To stay competitive, the latter managers have fervently demonstrated the ESG information use in their investment strategies. However, such explicit demonstration of leadership has not been accompanied by distinctive sensemaking capacities. I find that conforming managers were less capable of integrating sustainability and return-generation, which subsequently reinforced their short-termism and opportunism.
The finding of this thesis points to the importance of ‘behavioral integration’ instead of ‘explicit conformance’ of asset managers. The academic community may need to shed a more critical eye on ESG integration by asset managers. Institutional pressures to adopt such information may not induce more sustainable behavior, as ESG know-how is likely to deprive a chance to develop distinctive sensemaking capacities. Furthermore, it may even hurt the sensemaking capacities of managers who have behaviorally integrated sustainability and return-generation. While I hope to trigger a re-think amongst academics how to promote sustainable investment, my findings has theoretical and empirical contributions. The most important theoretical contribution is identification of non-conformance variables to engage intrinsically in sustainable investment. Empirical evidence on non-conformers, corroborated with resource-based view of the firm, also enhances the understanding of non-conformers’ motivation to sustain competitive advantage.
Findings also lead to managerial and policy implications. I carried out this research in the midst of the financial crisis, a time of mounting European policy debates how to build investor capacity to induce long-term and sustainable behaviors. The European Commission’s Internal Market Directorate-General is set to publish a directive proposal that mandate ESG information disclosure to companies and ESG reporting by investors. This adds weight to already published procedural measures to strengthen corporate governance at financial institutions. These policy initiatives emerged largely because of expert consultation and anecdotal evidences. In addition to recommendations to specific pieces of legislative proposals, this research makes an overarching policy proposal. The EU Commission needs to reexamine if the current policy measures lead to further symbolic demonstrations of ESG usage without accompanying sustainable behavior at the cost of real economy. EU equally needs to pay more attention to non-conforming asset managers’ distinctive capacities and enabling mechanisms. Reporting burdens may inadvertently impair non-conforming managers’ capacities to sustain long-term performance and may induce a contradictory policy consequence of increased public distrust.
Doctorat en Sciences économiques et de gestion
info:eu-repo/semantics/nonPublished
Kerhervé, Jean. "Finances et gens de finances des ducs de Bretagne, 1365-1491". Paris 4, 1986. http://www.theses.fr/1986PA040006.
Testo completoFrom 1365, when the dynasty was set on the throne, to 1491 when Ann of Brittany married king Charles 8, the dukes of the house of Montfort devoted themselves to found in Brittany a state endowed with financial means matching its political ambitions. Their effort aimed at modernizing the institutional machinery, and the techniques of financial management, with the treble prospect of estimates, and budgetary and accountancy control, of knowledge of the Breton territory and sovereignty over it, of optimum exploitation, under the circumstances of the day, of state resources, and above all, of financial possibilities of their country. Their enterprise of centralization was largely backed and relayed by a dynamic administration constantly growing in number. Born of the most diverse Breton social strata, especially of the plethoric middle or lower aristocracy, its members carried out their task with all the more conviction as, while serving the interests of their princes, they also served their own. They contributed to turn Brittany, on the eve of its return to France, into a modern state, open to innovations, and accustomed to the monarchic methods of centralization, just like the kingdom
Assouly, Judith. "La mise en place de la déontologie dans les activites financiers : de la question morale à celle de la responsabilité du système financier". Paris, EHESS, 2011. http://www.theses.fr/2011EHES0041.
Testo completoThis research investigates the sense given to the respect for the ethical rules by the agents in the specific investment banking activities. One of the specificities of this field is the existence of tensions between the imperatives of profit and the constraints inferred by rules. The normative dimension is illustrated by the implementation of a business ethical officer (or compliance officer) function. So, the safety or ethical concerns of the agents in their practice are analyzed towards the role of the compliance officer. The moral sociology is the main approach which allows us to deal with this question, within the analysis of observed situations and interviews. We also take support on the general frame put by the social studies of finance The works of the pragmatical sociology help us to analyze the links between the evolutions of the practices and the rules in a domain of the capitalism particularly subject to the criticism. This research presents at first a stake in historical and institutional perspective of the studied financial activities. Then, the analysis of practical situations reveals that these rules answer, in their contents, an ethical requirement of the agents, and in their formaI shape in safety preoccupations. They are sometimes instrumented in the modalities of competition between professionals. The morality which seize the agents appears rather in the values which they advance as the caution or the search for a good reputation. Finally, the main stake for the agents appears as that of the safety dimension of the activities for which they feel responsible
Hattori, Cordélia. "Pierre Crozat (1665-1740), un financier collectionneur et mécène". Paris 4, 1998. http://www.theses.fr/1998PA040237.
Testo completoPierre Crozat (1665-1740) is a financier famous for his activities as a collector and patron. Protector of Antoine Watteau, friend of Rosalba Carriera, patron of Charles de la Fosse and Pierre II Legros, his Parisian hotel, rue de Richelieu, built by J. -S. Cartaud, was a rendez,-vous place for amateurs, connoisseurs, collectors and artists. The painters of the royal academy, the foreign artists coming to Paris, Bachaumont, Caylus or Mariette met together during the weekly assemblies organized by Pierre Crozat, and studied the great collection of drawings. The artists also came to study and copy the sheets of great masters. They also could see Pierre Crozat's collections of paintings, etchings, sculptures, engraved stones and some 'objets de curiosités". A large library, with many books on art, was also available. Besides, Pierre Crozat, was a lover of Italy, where he went once to negotiate, for the regent, the collection of paintings of the queen of Sweden. After his return to France, he kept some relations with Firenze, Rome (especially with the academic de France directed by Charles Poerson and Nicolas Vleughels), and Venice. In England, the duc of Devonshire became one of Pierre Crozat's correspondents. Among the activities of Pierre Crozat's circle of connoisseurs - to which theorical references were R. De piles and C. Vasari writings - began a project of a "recueil d'estampes" which particularity was to mix a text and illustrations for the first time. But it stayed unfinished. The hotel Crozat was like an academy, and had a very important place for the amateurs connoisseurs and for the artists of the beginning of the XVIIIth century
Andreau, Jean. "Vie financière dans le monde romain : les métiers de manieurs d'argent (IVe s. av. J.-C.-IIIe s. ap. J.-C.)". Paris 4, 1985. http://www.theses.fr/1985PA040126.
Testo completoEl, Antary Salwa. "Le rôle de l'activité bancaire dans la nouvelle forme d'intégration des économies arabes au marché capitaliste mondial 1970-1985/". Paris 8, 1993. http://www.theses.fr/1993PA080817.
Testo completoTHE MAIN PROBLEMATIC OF THIS THESES IS AS FOLLOWS : - TO WHAT EXTENT DID THE RELATION BETWEEN THE ARAB AND INTERNATIONAL FINANCIAL CPAITAL LEAD TO THE MOBILIZATION OF THE ECONOMIC SURPLUS PRODUCED IN THE ARAB COUNTRIES AND ITS TRANSFER TO THE DEVELOPED CAPITALIST ECONOMIES ? - TO WHAT EXTENT DID THIS RELATION PROVIDE THE INTERNATIONAAL FINANCIAL CAPITAL with THE NECESSARY CONDITIONS FOR THE DEBT MECHANISM TO FUNCTION ? - WHAT ARE TJE EFFECTS OF THIS RELATION ON THE CONTROLE BY ARAB ECONOMIES OF THE TERMS OF AN INDEPENDANT REPRODUCTION ? THIS WORK TRIES TO ANSWER THE ABOVE MENTIONNED QUESTIONS TAKING INTO CONSIDERATION CLASS ALLIANCES ON THE NATIONAL AND INTERNATIONAL LEVELS, ALLAINCES WHICH CREATE AND STRENGTHEN THE NEW FORM OF INTEGRATION OF THE ARAB ECONOMIES IN THE INTERNATIONAL CAPITALIST MARKET. MARKET
Redon, Marie. "Evolution of the CFOs along with the Financialization process in France, a study of their reciprocal relationships". Thesis, Paris Sciences et Lettres (ComUE), 2018. http://www.theses.fr/2018PSLED028/document.
Testo completoThis dissertation investigates the evolution of the Chief Financial Officers’ (CFO) backgrounds, roles and agencies along with the financialization process in France. By studying financialization and CFOs from an institutional perspective, it presents their reciprocal relationships since the 1980s. While the financialization process has influenced the evolution of the CFO profession, CFOs also have various repercussions on financialization. Thanks to 1,040 resumes of CFOs and 58 interviews analyzed through a multiphase mixed method, this dissertation offers both a large scale and an in-depth study of the evolution of the CFOs along with the financialization process
Meharzi, Omar. "Nouvelles perspectives sur le mimétisme des investisseurs : analyse au niveau sectoriel et selon l'asymétrie d'information". Thesis, Université Grenoble Alpes (ComUE), 2016. http://www.theses.fr/2016GREAG014.
Testo completoOver the last decade, the academic research has highly focused on examining the investor’s behavior in stock markets. Many theories in psychology and sociology are used in the so called “Behavioral Finance” in order to explain the limits of the efficient market hypothesis and the financial market fragility. By analyzing the herding behavior, the researchers try to explain the market anomalies and the large market movements. Herding behavior can be described as the tendency of an investor, or a group of investors, to imitate the actions of other market participants, or to follow the market movement. Our first study examines the presence of herding behavior, focusing on the French stock market, at both market and sector levels. We investigate herding during different macroeconomic conditions. We also test the existence of herding during the last financial crisis period, and during the periods characterized by high or low volatility and transaction volumes. Using the CH 95 model, we do not observe herding behavior, both in market and sector levels, during extreme market movements. The CCK 2000 and Hwang and Salmon 2004 models show mixed results. Even when herding exists in the market level, various sectors behave differently. The measure we extract from the state-space model shows different patterns of herding at the sector level. The second study examines the investors’ incentives behind herding, in the US and Chinese stock markets, by introducing a new dimension, which is the information asymmetry. Using several proxies for information availability, such as dividend policy, bid ask spread, firm size and market sophistication along with considering the market condition (pre, post and during crisis period), this study allows us to investigate herding in different contexts of information availability, and to examine if herding is more pronounced in a high information asymmetry context. Findings of CH 95 model show no evidence of herding regardless of the level of information asymmetry between firms and investors in both the US and Chinese stock markets. On the other hand, the CCK 2000 model detects herding differences in the Chinese stock market depending on the information asymmetry level. The findings suggest that the emerging markets are affected by herding during the crisis period, regardless of the firm size. Finally, the Hwang and Salmon 2004 model shows different herding patterns in the US and Chinese stock markets depending on the information asymmetry level. Examining the herding behavior is interesting for the research in the market modeling field along with policymakers who may be interested in investigating the potential disturbing effects of herding on stock markets
Jalabert, Stéphanie. "Le rôle du dirigeant de la grande entreprise cotée dans le changement de paradigme de la valeur : les dirigeants du CAC40 peuvent-ils / veulent-ils « réconcilier » les valeurs actionnariale et partenariale ?" Thesis, Paris, HESAM, 2020. http://www.theses.fr/2020HESAC007.
Testo completoWhat are the CAC40 leaders’ willingness and capabilities (latitude) to reconcile shareholder and stakeholder value? To this question which may sound a little provocative, the further objective of our research was to measure the current level of paradigm shift adoption in large companies in France. We decided to consider the « CAC40 », since these organizations are very representative of the hyper-financialization of today’s Economy. Through the study of the "intention-behavioral" relationship, we focused our attention on a panel of leaders, and intended to find to which extent they have become precursor of a new paradigm, a kind of value “reconciliation” (between shareholder and stakeholders value), and considering all stakeholders impacted or impacted in the company's value creation.Based on Ajzen’s theory of planned behavior, but also on Everett Rogers's work on the innovation adoption curve, we were able to map a panel of CAC40 leaders and their “intention-behavior” frame. In view of the results of our research, the majority of the leaders in our sample are still to be "convinced" as Moore would make reference to it. In order to move to a clear adoption of change, we will still need to ensure that more early majority leaders are willing to crossing the Chasm, (this inflection point to the paradigm shift) and that this process can be taken for granted and sustainable over time
Braza, Sarah. "Les règles de bonne conduite en droit financier". Thesis, Montpellier, 2015. http://www.theses.fr/2015MONTD071.
Testo completoIn recent years financial legislation, was enriched by the rules of good behavior in order to respond to successive financial crises. For many, the rules of conduct contributed to the increase in criminal litigation at the expense of investment service providers. Nevertheless, it was more of a will of the legislature to balance the contractual relationship between the financial professional and unprofessional through various obligations, pursuing a goal of transparency. Indeed transparency allows contractors to have confidence in financial markets. Trust is fundamental on financial legislation, as if no one will invest in financial markets. To this end, the rules of conduct palliate the crisis of confidence of investors through information to variable degree requirements. Thus the information required by the rules of conduct allows more transparency and allows investor confidence through the balance of contractual relations