Дисертації з теми "Management financier"
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Yamashita, Mamiko. "Three Essays on Financial Risk Management and Fat Tails." Thesis, Toulouse 1, 2020. http://www.theses.fr/2020TOU10056.
Повний текст джерелаIn this thesis, we investigate the various impacts of model misspecification and examine how to handle a model uncertainty. We analyze the impact of ignoring fat tails on an outcome of forecast comparison tests in the first chapter, and then study the effects of ignoring the dynamics of the risk premium of returns on the amount of capital requirements for banks in the second chapter. The third chapter provides a robust way to determine the capital requirements when facing a model uncertainty, that is, a lack of knowledge of the true data generating process. In the first chapter, we analyze forecast comparison tests under fat tails. Forecast comparison tests are widely implemented to compare the performances of two or more competing forecasts. The critical value is often obtained by the classical central limit theorem (CLT) or by the stationary bootstrap (Politis and Romano, 1994) with regularity conditions, including the one where the second moment of the loss difference is bounded. We show that if the moment condition is violated, the size of the test using the classical Normal asymptotics can be heavily distorted. As an alternative approach, we propose to use a subsampling method (Politis, Romano, and Wolf, 1999) that is robust to fat tails. In the empirical study, we analyze several variance forecast tests. Examining several tail index estimators, we show that the second moment of the loss difference is likely to be unbounded especially when the popular squared error (SE) function is used as a loss function.We also find that the outcome of the tests may change if the subsampling is used. The second chapter explores the effect of misspecification in the conditional mean dynamics on the determination of capital requirements for banks. In the Basel II accord (Basel Committee on Banking Supervision, 2010), the capital requirements for market risk are determined based upon a risk measure called Value-at-Risk (VaR). When VaR is computed, it is often assumed that the conditional mean of an asset return is constant over time. However, it is well documented that the predictability of returns increases as the prediction horizon becomes longer. The contribution of this chapter is to demonstrate the problems of ignoring the conditional mean dynamics when we compute VaR. We find that even though the models with a constant and a time-varying conditional mean may be statistically indistinguishable, the implied VaR can differ. This finding then raises another question on how to produce VaR when we acknowledge the time-variability of the conditional mean but there is an uncertainty of its current value. The third chapter puts forward a solution to the question raised in the second chapter by examining a robust way to determine the capital requirements when there is an uncertainty in the conditional mean of returns. We focus on Expected Shortfall (ES) rather than Value-at-Risk (VaR), since the capital reserves are now determined by ES in the Basel III accord. We propose to determine the capital reserves based on the worst-case ES. That is, we choose the maximum value within a set of ES forecasts mapped from the set of models that are pre-selected by the forecaster. With an assumption that the risk premium is believed to be non-negative, we show that the robust ES can in fact be achieved with a model in which the conditional mean is constant and the risk premium is always zero. This finding serves as an answer to the question raised in Chapter 2, and is one justification for assuming a constant conditional mean. We then consider a more general setting in which the forecaster is uncertain not only about the conditional mean but also about other aspects of the conditional distribution, such as the second or higher moments or the tails. There are many ways to define the set of models, and we focus on those defined with respect to the relative entropy, applying the robust control theory of Hansen and Sargent (2001)
Vuillemey, Guillaume. "Derivatives markets : from bank risk management to financial stability." Thesis, Paris, Institut d'études politiques, 2015. http://www.theses.fr/2015IEPP0007/document.
Повний текст джерелаIn its first part, this thesis studies the optimal use of derivatives contracts for risk management by financial intermediaries, focusing especially on interest rate derivative contracts. It models the optimal capital structure policy of a bank and shows how the optimal use of derivatives affects a number of oft-studied decisions in corporate finance: bank lending, maturity mismatching, payout policy or default probabilities. The second part of the thesis, in contrast, studies derivatives market as a system on its own. The second chapter uses a new and unique dataset of bilateral exposures to CDS contracts in order to provide a detailed description of the network structure of exposures. The third chapter focuses on the regulation of derivatives markets. It studies central clearing of standardized derivatives contracts and the collateral demand induced by the reform at a global scale, under a variety of hypotheses regarding the market microstructure
Ben, Hadj Saifeddine. "Essays on risk management and financial stability." Thesis, Paris 1, 2017. http://www.theses.fr/2017PA01E003/document.
Повний текст джерелаWe first investigate the computational complexity for estimating quantile based risk measures, such as the widespread Value at Risk for banks and Solvency II capital requirements for insurance companies, via nested Monte Carlo simulations. The estimator is a conditional expectation type estimate where two stage simulations are required to evaluate the risk measure: an outer simulation is used to generate risk factor scenarios that govern price movements and an inner simulation is used to evaluate the future portfolio value based on each of those scenarios. The second essay considers the financial stability from a macro perspective. Measuring negative externalities of banks is a major challenge for financial regulators. We propose a new risk management approach to enhance the financial stability and to increase the fairness of financial transactions. The basic idea is that a bank should assume as much risk as it creates. Any imbalance in the tails of the distribution of profit and losses is a sign of the bank's failure to internalize its externalities or the social costs associated with its activities. The aim of the third essay is to find a theoretical justification toward the mutual benefits for members of a bonking union in the context of a strategic interaction model. We use a unique contagion dynamic that marries the rich literature of game theory, contagion in pandemic crisis and the study of collaboration between regulators. The model is focused toward regulating asset classes, not individual banks. This special design addresses moral hazard issues that could result from government intervention in the case of crisis
Cruz, Martinez Enrique. "Le fédéralisme financier au Mexique." Thesis, Paris 2, 2012. http://www.theses.fr/2012PA020038/document.
Повний текст джерелаOver the past few years, the Mexican federal system has borne the brunt of numerous criticisms from local government which denounces a high level of centralised fiscal power in the Federation. They advocate a restructuring of the system where a genuine sharing of fiscal power would be instituted between the three levels of government, those being: the Federal Government, the State Government and the Municipalities.Although some reforms have been implemented to increase the decentralisation of financial resources, this has not been the case with taxation power. The process of governmental centralisation, which seems to have progressively taken hold since the adoption of the federal model, demands a reconsideration of its evolution.Financial federalism in Mexico is a thesis which not only analyses the financial structure of the country, but also seeks answers to better understand how the federal system became a centralised federalism and what the causes are. Why is it difficult to change direction or to conceive of a large-scale reform which could reform intergovernmental relations?The responses to such questioning will lead us to a broader conception of the subject where a legal analysis of the federal structure alone will not suffice to explain it, even if this does constitute the legitimate basis of such a political organisation.Indeed, a structure of formal and informal relations exists (power relations) which leads to a conflictual functioning of the system, exacerbated by regional heterogeneousness. From this perspective, the institutional organisation of the State is the result of several factors where the interests of power groups are an integral part of the centralised practice of federalism, followed by a series of economic crises and a tendency to control the management of public affairs from the centre of government.However, uncovering the functioning of this federal system is not simply due to the multitude of factors interacting in its construct. The interest of our research is to interpret the conflictual functioning of financial federalism in Mexico
Lefebvre, Vivien. "Stratégie de croissance, cycle de vie financier et gestion financière des petites et moyennes entreprises." Thesis, Strasbourg, 2020. http://www.theses.fr/2020STRAB002.
Повний текст джерелаSmall and medium-sized enterprises (SMEs) face financing constraints that limit both their growth choices and financial management. This thesis contributes to a better understanding of SMEs growth strategies and working capital management. The first part focuses on SMEs growth strategies. The first chapter documents the main characteristics of SMEs acquisition activities at the initial public offering stage. The second chapter investigates the impact of acquisitions on SMEs performances. The third chapter is an exploratory study of the formation and expansion of business groups by SMEs. In the second part, we study the characteristics of SMEs working capital management. The fourth chapter highlights that the performance of SMEs is negatively related to underinvestment in working capital due to opportunity costs and that this effect is higher than for larger firms. Chapter five reports that newly listed SMEs offer longer payment delays to their customers but that going public does not impact other aspects of working capital management. Chapter six documents the financial flexibility offered by business group affiliation with respect to working capital management
Vo, Dinh-Tri. "Essays on enterprise risk management : the case of european insurance industry." Thesis, Université Paris-Saclay (ComUE), 2016. http://www.theses.fr/2016SACLE018/document.
Повний текст джерелаIn a world that becomes more and more integrated, every firm has to cope with increasing complexity of different risks. Managing complex risks with a global view, holistic at all firm levels for insurers is vital because risks are their businesses. Over the last two decades, enterprise risk management (ERM) has become a crucial framework to provide firms with methods and processes to manage risks and augment the likelihood of business success. However, even within the same regulatory framework, different risk management strategies and risk management activities would lead to different outcomes.This doctoral thesis aims to examine three aspects of ERM in the European insurance industry:i) the characteristics of insurers that implement ERM,ii) the impact of ERM on firm performance,and iii) the relationship between ERM and solvency.Although the market share of the EU market is more than one-third of the world's maket share, most of empirical studies on ERM in the insurance industry based on the US data. Moreover, the Solvency II pushed insurers in this continent more close to ERM.The first essay investigates the characteristics of 101 publicly traded EU insurers, including firm size, firm age, leverage, business type, diversification, long-term investment, and some performance indicators (combined ratio, ROA, Tobin's Q and EPS). Using a Probit model with random-effects panel data, the obtained results show that European insurance firms are more likely to adopt ERM when they are more leveraged, bigger, and focus more on their core businesses. In addition, they have higher firm value, invest more over the long-term horizon and are mostly located in developed markets. Our evidence is consistent with the findings of some previous studies, i.e. Pagach and Warr (2011), Hoyt and Liebenberg (2011).In the second essay, I study how ERM impacts firm performance via both market value and book-value indicators. With constraints in the identification of ERM evidence, I have two groups of ERM insurers and non-ERM insurers. As a result, I have to solve the problems of endogeneity (included reverse causality) and sample selection bias by using comprehensive methods: Heckman's two-step (with inverse Mills ratio), Treatment Effects, and Hausman-Taylor estimators. With comprehensive methods employed, the findings support the hypothesis that ERM have a positive impact on firm performance. These results thus complement previous studies advocating ERM adoption i.e. Nocco and Stulz (2006), McShane et al. (2011), Hoyt and Liebenberg (2011), Eckles et al. (2014).The third essay examines the solvency of insurers that have adopted an ERM system. Using a similar approach as in the second essay, I find that ERM adoption has a positive and significant impact on insurance firm solvency. This new investigation into insurance solvency contributes an alternative view of the value of ERM.The findings of this thesis have some implications for major stakeholders such as risk managers, regulators, and shareholders: ERM adoption does have a positive and significant impact on firm performance and firm solvency. Moreover, ERM adoption is associated with certain firm characteristics such as leverage, firm size, long-term investment, and diversification
Ullah, Muhammad. "The Nexus Between Firm's Environmental Performance and Financial Resilience." Thesis, Université Clermont Auvergne (2017-2020), 2020. http://www.theses.fr/2020CLFAD012.
Повний текст джерелаThis thesis comprises three empirical essays investigating the impact of environmental performance (EP) of firms on their financial resilience. We capitalize from the vast literature of EP on financial performance and contribute to uncover an unexplored aspect of financial performance, i.e. financial resilience. Financial resilience can be defined as “both the ability of a system to persist despite financially stressful events and the ability to regenerate and maintain existing organization” (Gunderson and Pritchard, 2002, DesJardine et al., 2017). On the one hand, based on shareholders’ expense view, high EP may be viewed as an overinvestment or waste of financial resources and may therefore reduce a company’s financial resilience when confronted to an adverse event. On the other hand, in line with the environment-as-a-resource view, high EP companies may buffer the shock and recover faster by benefitting from stakeholders’ attention through their reputation of being eco-friendly and the competitive advantage of having valuable and inimitable resources.The first chapter introduces the EP and organizational resilience and discusses their financial implications from theoretical and empirical literatures. Bridging the literatures of both areas from a financial viewpoint lead us to our general research question, to investigate “the nexus between firms’ EP and their financial resilience”. Building on this, the chapter then introduces the avenues of research that are undertaken in the following chapters.In the second chapter, we investigate the relationship in the context of a global shock for the worldwide economy, the subprime financial crisis of 2007. Using an international sample of 1,622 observations, we measure firm’s financial resilience by the time to recovery of their market prices to the pre-crisis level. By performing survival analysis, we find that high EP is negatively related to the financial resilience of companies. This indicate that high EP seems to be an organizational constraint that limits the ability of a company to be financially resilient to general financial crisis. However, we also find that EP is not detrimental to resilience for its specific product innovation dimension, nor for companies in less environmentally oriented countries.In the third chapter, we investigate the relationship in the context of regulatory requirements, more precisely by the disruptions caused by the disclosure of verified emissions under the EU ETS. Performing the survival analysis over a sample of 3,194 observations covered under the EU ETS, we find that high EP is positively related to the financial resilience, measured by time to recovery of firm’s market price to the day before the publication. In line with the Environmental resource based view (Hart, 1995, Russo and Fouts, 1997) and the environment-as-a resources framework (Flammer, 2013), this finding suggest that high EP is beneficial for company, and improves the ability of companies to be financially resilient in the context of an environmental regulative framework. However, we find that high EP is more beneficial if firm is in carbon-intensive industry, the carbon prices are high.Finally, the fourth chapter investigates the impact of EP on financial resilience to jolts caused by company specific environmental controversies. We apply survival analysis and OLS regression models to assess the impact of firms’ EP on their flexibility (time to recovery of market value) and stability (severity of loss in market value) dimensions of resilience, respectively. Using an international sample of 233 observations over the 2010-2016 period, we find that prior EP significantly enhances the both dimensions of financial resilience of companies. (...)
Mouti, Saad. "Le management du risque pour les compagnies d'assurance : une approche marchés financiers." Thesis, Paris 6, 2017. http://www.theses.fr/2017PA066744.
Повний текст джерелаThis thesis tackles several aspects of financial risks encountered in the life insurance industry and particularly in a class of the products insurers offer; namely variable annuities and unit-linked products. It consists of three distinct topics and is split into six chapter that can be read independently.In variable annuities (VAs), policyholders’ behavior is a major risk for the insurer that affects life insurance industry in almost every aspect. The first two chapters of this first part deal with policyholders’ optimal policyholder for two VAs products. We address the rational lapse behavior in the guaranteed minimum account benefit (GMAB), and optimal withdrawals in the guaranteed minimum income benefit (GMIB). The third chapter is dedicated to a class of unit-linked products from a managing and hedging point of view. The second topic consists of one chapter and addresses the optimal execution of a large book of options. Typically, life insurance products are partially hedged using vanilla options. We consider the case where trades are affected by the traded quantity, and seek to find an optimal strategy that minimizes the expected cost and the mean-variance criterion.Finally, in the last topic we study the volatility process using two different proxies. First, range based estimators that rely on the asset price range data allow us to double-check that volatility is a rough process in the sense that it has a scaling parameter H less than 1/2. Then, using short time-to-maturity implied volatility, and a refined version of it, allows us to confirm that the rough aspect of volatility is universal along different proxies
Busca, Laurent. "Le façonnement des marchés par les pratiques marketing routinières : une application au Social Media Management." Thesis, Toulouse 1, 2017. http://www.theses.fr/2017TOU10063/document.
Повний текст джерелаInvestments dedicated to Social Media Marketing have been growing for a few years, outlining the importance of Social Media in the marketing strategy. These massive investments must cause changes on markets, either intentional or not. How are markets made up by routine marketing practices such as Social Media Management? We study the impact of routine marketing practices on markets through an application to Social Media Management. We use three qualitative methods: a four years netnographical and documentary analysis, a historical study and three sessions of interviews with Social Media Managers. Three empirical chapters outline the historical constitution of representation structures involved in digital marketing practices; the mechanism through which Social Media Manager intertwine different of these structures into their routines; the mechanism through which routines make these structures evolve. We contribute to the literature on market by showing how marketing managers enact routines that make up markets. We give managers tools to study and use different cultural structures in their digital strategy, especially on Social Media
Jebabli, Ikram. "Essays on the transmission of shocks between financial, energy and food markets : transmission channels, measurement, effets and management." Thesis, Université Clermont Auvergne (2017-2020), 2017. http://theses.bu.uca.fr/nondiff/2017CLFAD007_JEBABLI.pdf.
Повний текст джерелаThe aim of this three essays thesis is to contribute to a better understanding of the transmission of shocks from energy and financial markets to food market commodities. The first essay investigates the efficiency of food market. The second essay studies returns and volatilities transmission between the three markets. Extreme dependence between these markets is analyzed in the third essay. Our main results underline the impact of the 2007-2008 financial crisis in the intensification of returns and volatilities spillovers between these markets as well as tail dependencies (namely tail dependencies). They allow also underlining hedge effectiveness by the construction of diversified portfolios including food commodities
Lescoat, Pierre. "La valeur de l'individu en salle de marché : une analyse critique des dispositifs et pratiques d'évaluation de la performance individuelle dans le monde de la finance." Thesis, Paris 1, 2019. http://www.theses.fr/2019PA01E023.
Повний текст джерелаThis thesis discusses the value of the individual in trading rooms. For this, we study the individual performance evaluation systems of exotic traders and sell-side analysts in the banking industry. Individual performance evaluation is a valuation practice. This means, in a constructivist approach, that individual performance evaluation produces a value for the individual. Our theoretical framework is based on the work of Michel Foucault: we investigate how individual performance evaluation” subjectivize” individuals. For this, we conducted 74 interviews and conducted participant observations. We also used a longitudinal approach over 5 years. Our study identifies 4 types of subjectivation induced by individual performance evaluation systems: the generalization of “thinking profit”, the reference of the self in a collective, the marketization of expertise and the bodily integration of performance expectations. This study contributes empirically to the academic literature on individual performance evaluation by showing the importance of sociability and reputation as individual performance dimensions for two professions that deal with numbers. The study contributes to the literature on financial markets by focusing on the roles of individual performance evaluations systems in fragmenting or consolidating communities
Borden, Lynne, and DenYelle Baete Kenyon. "Family Financial Management -- Interventions Following a Disaster." College of Agriculture and Life Sciences, University of Arizona (Tucson, AZ), 2004. http://hdl.handle.net/10150/157199.
Повний текст джерелаZylstra, Andrew. "Transposing the 'real effects of financial markets' perspective onto the marketingfinance interface." Thesis, Paris 1, 2019. https://ecm.univ-paris1.fr/nuxeo/site/esupversions/cc1fc8b2-1794-477f-baba-9be8bf7d855a.
Повний текст джерелаTo obtain deeper insights into the relationship between marketing and equity markets, this thesis investigates whether the ‘real effects of financial markets’ perspective (P. Bond et al., 2012) is suitable for integrating the two streams of the marketing-finance-accounting interface research area. The four studies in this thesis highlight the bidirectional flows of information in stock prices between marketing investments and equity markets. The first two studies (Chapters 3 and 4) show empirically the impact of information flows from marketing investments to equity markets while the third and fourth studies (Chapters 5 and 6) show empirically the inverse flow of information from equity markets to marketing. Together, the four studies suggest that information flows bidirectionally between marketing investments and equity markets, reflecting the contentions of the ‘real effects of financial markets’ perspective. We make two arguments based on this finding. First, we contend that the ‘real effects of financial markets’ perspective should be transposed onto the marketing-finance interface because it enhances our understanding of the two research streams of the marketing-finance interface and provides a suitable theoretical framework to account for how marketing investments both affect and reflect information in equity markets. Second, transposing the 'real effects of financial markets' perspective onto the marketing- finance interface opens up many research possibilities to generate new insights into the two-way interactions between marketing investments and equity markets
Baradat, Caroline Laure. "La caractérisation du pilotage financier universitaire français -Une analyse de la cohérence de son modèle organisationnel avec les réformes actuelles-." Thesis, Pau, 2013. http://www.theses.fr/2013PAUU2007/document.
Повний текст джерелаFaced with new missions entrusted to French universities, a necessary change of their accounting and financial management practices has been initiated. Within this framework, we propose to analyze the level of consistency between the current organizational model of French University Financial Management (FUFM) and contextual changes it faces. First of all, for that purpose, we highlight three research dimensions, namely instrumental, collective governance and individual governance, permitting to build a global analysis table of FUFM. Then, we mobilize complementary field-based approaches, among them case studies in five French universities and a quantitative analysis of 33 universities responses to a national survey. In the end, we observe that FUFM still seems based on short-termist and global financial management tools, following a basic logic of monitoring, and on a mechanistic structure, linked to centralized decision-making process, and disturbed by the presence of power games. These results permit not only to conclude that FUFM seems not meet the new current challenges, but also to propose adapted evolution axis
Monnier, Franck. "L'Opéra de Paris de Louis XIV au début du XXe siècle : régime juridique et financier." Thesis, Paris 2, 2012. http://www.theses.fr/2012PA020072/document.
Повний текст джерелаSince the eighteenth century, the Paris Opera has been considered to be a “public service corporation”. Many missions were assigned to the theatre: the Opera should traditionally offer the viewer lyrical opuses in a national genre, but it’s role was also to represent the authorities, serve foreign affairs and support a section of the craft industry. The functioning of the "public service of the Opera” raises questions of public order and management. A legal framework was implemented. The police for the theatres was reformed and adapted to the peculiarities of the activity: censorship, police surveillance and fire fighting arrangements were organized by specific measures. The administration of the Opera underwent several upheavals. The authorities hesitated between an ambiguous system of delegation to subsidized contractors and direct state control (or local government control). These institutional reforms had an impact on the legal status of the artists, on the development of their careers and on the organization of their pension fund. All the information necessary for the development of this work is not to be found in the legal regulations. Our method was to cross the legal sources with administrative records and balance sheets, in order to compare the actual running of the theatre with it’s "ideal" functioning, planned in offices, far from the material difficulties of the actual execution. This study reveals the normative force of customary uses in administration, as well as the phenomenon of diversion of the rules by the administrators and the staff. This mode of functioning, often unknown to the bureaucracy, remains the only element of stability in the Opera, since the reign of Louis XIV until the Third Republic
Petel, Franck. "Perception par les acteurs de marché de la fonction d’utilité liée à l’immobilier." Thesis, Paris 10, 2012. http://www.theses.fr/2012PA100052/document.
Повний текст джерелаThe principal objective of this study is to estimate the utility value of a company’s Real Estate by analysing this asset utilising different methods. In the beginning, we studied the principal theories of macroeconomics which lead to the creation of a diverse portefolio of assets. We then measured the impact of the company’s real estate value on the perception of the profitability/risk ratio within different industrial sectors. To achieve this, we used a graphic analysis tool and we measured the level of correlation between different indexes. We have examined in detail two representative companies of specific indexes which demonstrated strong and unusual strengths: the Casino Group, that we have linked to its Real Estate investment trust Mercialys and the Accor Group. The study of these businesses has allowed us to demonstrate unique strategies and adaptive behaviors based on the optimization of the profitability/risk ratio. We wanted to verify thereafter the specific hypotheses created during the study of these two companies. For that, we adopted a more general approach and we tested in vivo the perception of the utility value of a company’s Real Estate. We oriented the research to an empirical approach based on the survey data. We validated the fact that Real Estate is essentially considered by the people involved in this industry as a tool for managing the profitability/risk ratio of a company (and particularly the level of the debt) with more or less significant additional components according to the paradigm, the objectives and the personal perception of each group within each segment. The current situation of the company could significantly change the perception of the nature of its value for a specific group with the systematic objective of maximizing their position. We specified when we started this research project that this work is relevant to the date it was produced and it has to be updated in ten years with more significant temporal data
Lukuitshi-lua-Nkombe, Albert Malaika. "Essai sur le système financier de la République Démocratique du Congo: une contribution à l'amélioration de la supervision bancaire." Doctoral thesis, Universite Libre de Bruxelles, 2005. http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/210967.
Повний текст джерелаCette these essaie de trouver les voies et moyens susceptibles de contribuer a l amelioration et au renforcement de la supervision bancaire au Congo, et in fine [le secteur bancaire etant le plus important du systeme financier] permettre l eclosion d un systeme financier moderne et efficace qui rencontre les normes internationales.
Dans une premiere etape qui consiste en un etat des lieux du systeme financier congolais et en une analyse critique de la gestion bancaire ( chapitre 1 et chapitre 2 ); les analyses :
- ressortent les caracteristiques du systeme financier congolais ;
- soulignent les contraintes structurelles ayant entrave trois decennies de gestion bancaire ;
- evaluent les chances de succes des reformes mises en oeuvre par les autorites;
- proposent en des termes generaux, les ameliorations a porter au cadre reglementaire et de supervision du secteur bancaire afin de reduire les imperfections, de renforcer l efficacite et la stabilite du systeme dans son ensemble.
Dans une seconde etape, un menu plus restreint de propositions faites au terme de l etat des lieux du systeme financier et de l analyse critique de la gestion bancaire est passe en revue. Les contributions de la these dans cette etape consistent :
- en la proposition d outils concrets de supervision bancaire pour faire face a la carence d outils de gestion prudentielle preventive ;(chapitre 3)
- en recommandations pour ameliorer :la politique de provisionnement des creances et le fonctionnement des institutions de microfinance ;( chapitre 4)
- a degager dans une demarche d analyse strategique, les pistes susceptibles de contribuer a l amelioration de la sante et la solidite du systeme financier congolais apres evaluation prealable de sa competitivite (chapitre 5)
SUMMARY
The construction of an healthy and competitive financial system able to mobilize high levels of saving and the improvement of the standards of banking and financial supervision to ensure the stability of the system are two of the recommendations often made by international institutions to help African countries to take part in the expansion of world prosperity and to profit from the globalization of financial services.
This thesis tries to find the ways to contribute to the improvement and the reinforcement of the banking supervision in Congo, and in fine [ the banking environment being most significant of the financial system ] to allow the blossoming of a modern and effective financial system which meets international standards.
In a first stage which consists in an overview of the Congolese financial system and in a critical analysis of the banking management ( chapter 1 & chapter 2) ;our analyses :
- release the characteristics of the Congolese financial system ;
- underline the structural constraints having blocked three decades of banking management ;
- evaluate the chances of success of the reforms implemented by the authorities ;
- propose in general terms, the improvements to be carried in order to reduce the imperfections of the banking supervision, to reinforce the effectiveness and the stability of the banking system.
In the second stage, a more restricted menu of proposals made at the end of the first stage is reviewed. The contributions of the thesis in this stage consist:
- in the proposal of concrete tools for banking supervision to face the deficiency of preventive prudential management tools; ( chapter 3)
- in recommendations to improve :the policy of provisioning bad debts and the management of Microfinance institutions; (chapter 4)
- in an evaluation of the competitiveness of the Congolese financial system and in the identification of ways which can contribute to the improvement of its safety and solidity by using a strategic analysis approach. ( chapter 5)
Doctorat en sciences de gestion
info:eu-repo/semantics/nonPublished
Braune, Eric. "Réseau et management de l'innovation dans les secteurs de haute technologie : intérêt financier et organisationnel des réseaux dans les stratégies d'innovation des firmes industrielles de haute technologie." Thesis, Aix-Marseille 3, 2011. http://www.theses.fr/2011AIX32067.
Повний текст джерелаThrough an empirical study involving 172 high-tech industrial firms domiciled in the U.S. and embedded in networks of innovation financing by venture capital we show that the amount of expenditures in venture capital made by these firms impacts strongly and positively their Tobin's Q. In addition, our study illuminates the strategy of industrial firms embedded in networks of innovation financing. It appears that access to information concerning marketable innovations is highly constrained by relationships these firms have with financial venture capital companies. Thus, industrial firms building relationships with financial firms occupying a central place in the network get the most out of their nesting in it. These firms increase the amount of venture capital investments towards the same financial partners and this positively impacts their Tobin's Q. Therefore, our study reveals what an efficient relational capital is in financing networks of innovation
Dufour, Nicolas. "Contribution à l’analyse critique de la norme de contrôle. : Le cas des risques opérationnels dans le secteur financier : de la normativité à l’effectivité." Thesis, Paris, CNAM, 2015. http://www.theses.fr/2015CNAM0991/document.
Повний текст джерелаThe aim of this thesis is to bring to light the way the Risk management mobilizes the stakeholders of organizations to create and lead a culture of the operational risk.Our research approach is the methodological triangulation, combining two action-research case studies, arising within a banking institution and within an insurance company, as well as semi-directive interviews and an analysis of contents on a set of internal documents in each of the studied cases. The research results state the necessity of translating the standards of prudential control in the organization and of structuring the numerous controls to implement an effective risk mastering policy.The recent statutory evolutions in the banking and insurance sectors (Basel 2 and Basel 2.5, Basel 3, Solvency II) tend to strengthen systems of internal control and Risk Management as well as the communication of information over these devices for a better control of the risks. So, the regulation CRBF 97-02 speaks about operational risk systems, the directive to come Solvency II evokes in its pillar 2 the necessity of developing an internal control and a Risk Management turned to the consideration of the organizational risks.However these efforts do not prevent the emergence and the mediatization of financial scandals the scale of which is as high as the financial handled amounts. So, numerous financial institutions are affected by the operational risk. This risk is before any an organizational risk, a contingent of the human factor and taking multiple forms (the Basel categories of the operational risk).There are numerous examples of extremes operational risks: the cases of JP Morgan, UBS, Société Générale, Barclays, Goldman Sachs give evidence of it. However, the operational risk is not only the fact of corporate and investment banking and is not only an extreme risk by its consequences and in low probability. It also concerns retail banks and insurance companies and is most of the time a risk of frequency and low impact (frauds in payment activities, and fraud in life and non-life the insurance for instance). The prudential regulation include a set of standards tending to incite financial institutions to take into account better this category still emergent and badly known by risk (markets risks or credits risks have being the object of more studies).We describe the influence of these normative evolutions on the internal devices of the operational risk (Operational Risk Management, Internal Control) and we question the sense given by establishments to the information onto the control of the risks, more particularly as regards the effectiveness of these devices. To avoid an informative overload regarding control, it becomes essential to place this prudent regulation in perspective of structuring of the controls and the translation / understanding of the risk control standards
Larminat, Pierre de. "Spéculer pour autrui dans un monde incertain. Comment les investisseurs professionnels évaluent les gérants d'actifs financiers." Thesis, Reims, 2013. http://www.theses.fr/2013REIML008.
Повний текст джерелаThis dissertation uses the evaluation of asset managers by professional investors as a case for the study of the ways in which economic agent deal with the necessity of acting and to give account of one's actions while facing uncertainty.This dissertation follows a durkheimian approach as it combines a morphological analysis of the asset management field with an analysis of evaluation practices of asset managers by professional investors.Empirical materials of various kinds have been gathered, in order to record the numerous ways in which a total social fact manifests itself. Some of the materials derive from an ethnographic research in the field of asset management: these are semi-directive interviews, direct observations of social interactions, and artefacts produced and used as part of the practices that the research investigates. The other materials are statistics or institutional data that have been collected during the field research. Interpretive analysis has been applied to them.The morphological analysis of asset management as a social field highlights the divisions, articulations and proportions of the organizations where financial asset management practices are carried out. The autonomization of asset management as a professional field goes along with a social division of labour that is structured around the asset managers. It makes them become speculators, that is economic agents who focus solely on price variations. By contrast, other actors ensure that the speculative movement is followed by a fully carried out trade. The income structure of asset management firms feeds a conflict between asset managers and salespersons about the distribution of profit. The resolution of this conflict leads to a polarization of asset management firms between firms following a model designed after the manufacturing industry, and firms following a model leaning towards craftmanship.The evaluation of asset managers by professional investors makes sense in a social frame where it stands as an appraisal of the efficiency of speculative actions undertaken by agents who try and reduce the financial uncertainty that they face. Professional investors classify their evaluation practices among a "quantitative" analysis and a "qualitative" analysis of asset managers. Although this form of classification may suggest that the two types of analysis cover two kinds of knowledge that are imperfect yet complementary, it is not quantification or calculation per se that differentiates between them. They are functionally related to each other: assessment of the form taken by financial uncertainty on the one hand, and search for the social conditions that caused uncertainty to take such form on the other hand. The form of classification "quantitative/qualitative" meets imperfectly the phenomena to which it is applied. It matches the social distribution of resources that professional investors gained during their socialization trajectory, and that they mobilized in the frame of a specific kind of social division of labour, where analytic practices are also distributed among differentiated positions within organizations.This dissertation complexifies and enriches the understanding of financial practices and of uncertainty reduction practices by showing that such understanding cannot forget their social foundations. It circumscribes the domain of validity of a specific form of classification and it provides interested actors with tools with which they can discuss anew the efficiency or the relevance of their analytic processes
Chilembe, Luciano Fruta. "Cálculo financeiro: A realidade angolana." Master's thesis, Universidade Portucalense, 2013. http://hdl.handle.net/11328/1455.
Повний текст джерелаO tema do presente trabalho “Cálculo financeiro: a realidade Angolana”, tem como motivação refletir sobre o estado atual do cálculo financeiro, com maior realce para os Municípios do Litoral da Província de Benguela. Esta discussão é oportuna e torna o tema relevante, na medida em que aborda uma situação de extrema importância na tomada de decisões (investimentos, financiamentos e política de dividendos) no âmbito da atividade empresarial. Nesta investigação, estudamos alguns planos curriculares de diferentes Universidades Públicas e Privadas, manuais de cálculo financeiro e documentos oficiais relativos ao ensino superior em Angola. Também recolhemos dados para identificar a opinião de alguns gestores de pequenas, médias e grandes empresas do setor privado sobre a importância do cálculo financeiro na tomada de decisões da sua atividade empresarial. Como hipótese de investigação tomou-se a ideia de que a situação real do cálculo financeiro a nível dos Municípios do Litoral da Província de Benguela não se encontra em condições para responder às necessidades do desenvolvimento que exige o país no momento atual, a qual foi verificada durante o desenvolvimento da investigação. Os principais resultados alcançados apontam para importância do conhecimento do cálculo financeiro na tomada de decisões da atividade empresarial.
The theme of this work "Financial Calculus: Angolan reality" has the motivation to reflect on the current state of financial calculation, with greater emphasis on the coastal municipalities of the province of Benguela. This discussion is timely and makes the relevant topic in as we approach a situation of extreme importance in making decisions (investment, financing and dividend policy) in the course of a business. In this investigation, we studied some curricula of different public and private universities, financial calculation manuals, official documents relating to higher education in Angola. We collect data to identify the opinion of some managers of small, medium and big private sector enterprises about the importance of financial calculation in the decisionmaking of its business. Hypothesis how research took up the idea that the situation financial current of the calculation at the level of the coastal municipalities are not able to meet the needs of development. Among the main results point to the importance of knowledge of financial calculation in the decision making of business.
Orientação: Prof. Doutor Paulo Pires.
Nguyen, Vinh Huy L. "Institutional Investors, Insiders and the Firm." FIU Digital Commons, 2016. http://digitalcommons.fiu.edu/etd/2637.
Повний текст джерелаGuynamant, Chiabai Béatrice. "Les managers dans les marchés financiers." Thesis, Paris 2, 2011. http://www.theses.fr/2011PA020082.
Повний текст джерелаMarket operators are individualistic and opportunistic talented experts involved under time pressure in an environment focused on performance, where money and risk are, in addition to the sinews of war, a constant concern. In this game, where all players focus on absolute growth but whose interests sometimes diverge, what is the role of management? This research study is based on a theoretical framework that focuses on the sociology of professions, the ANT (Action Network Theory) and the stakeholder theory. It also mobilizes theories related to the culture of performance (Competing Value Framework, Quinn), the context of risk, uncertainty and crisis (game theory), the management of individualistic and opportunistic talented experts, (management theories and competition), relationships to money (theory of reasoned action and theory of situated action). On the theoretical side, our contributions are twofold: we combine ANT and stakeholder theory, we address competition with an intra-organizational rather than an inter-organizational angle The field survey is based on an exploratory phase (feedback from 70 managers who received training sessions in management and 15 exploratory interviews) to build a questionnaire answered by 37 managers. Data are analyzed through a theorical coding process with the help of NVivo software Our contribution for the professionals is a better understanding of the rules and the recommendation to place People in the heart of the system, by developing management skills, sharing best practices or encouraging shareholding for managers (or key people)
Veryzhenko, Iryna. "A reexamination of modern finance issues using Artificial Market Frameworks." Phd thesis, Université Panthéon-Sorbonne - Paris I, 2012. http://tel.archives-ouvertes.fr/tel-00839380.
Повний текст джерелаOkanlomo, Vaneshree. "Risk Management in project finance : a financier's assessment framework." Diss., University of Pretoria, 2015. http://hdl.handle.net/2263/52284.
Повний текст джерелаMini Dissertation (MBA)--University of Pretoria, 2015.
sn2016
Gordon Institute of Business Science (GIBS)
MBA
Unrestricted
Amorim, Thiago Navarro Mafra. "Contingência de crises financeiras: um estudo sobre a evolução da regulação dos mercados e o risco das instituições financeiras no Brasil." Universidade de São Paulo, 2011. http://www.teses.usp.br/teses/disponiveis/12/12139/tde-06072011-163719/.
Повний текст джерелаThe recent financial crises that occurred between 2007/2008 - the largest and most devastating since the great depression of 1929 - has surprised government authorities, academics and financial market professionals. Nurtured during several years and even after more than two year of the climax of the crises, there is still no consensus about it causes. Based on learnings of the past economic crises that the world has faced, it is impossible to single source the cause for the crises. Many argue that the lake of regulation should be the main causes of the crises. But it\'s possible to state that the financial regulation worldwide has faced a strong development in the last two decades. Could it be consider that the financial regulation developed up to the crises was wrong, incomplete or not applied? The main objective of this work was to investigate if the selected regulatory events affected the risk of the most relevant banks with operations in Brazil and listed in Bolsa de Valores de São Paulo (Bovespa). This study took into account specific banks\' stocks values listed in Bovespa during the observed period. In order to minimize possible differences of impacts that the regulatory policies may have over banks of distinct sizes, the sample was subdivided in two groups, considering their asset size. The test methodology applied on this work is the event study. The hypotheses of the study tested the impact on risk during two regulatory milestones: (i) communication number 12.746 of December 8, 2004, which determined the procedures for the implementation of new capital structure - Basiléia I in Brazil; and (ii) the bankruptcy of Lehman Brothers on September 15, 2008; starting point of the financial crises of 2008, and, also, the moment of application of news regulatory limits to the banks was most intensive discussed. The results observed suggest that there is no statistically significant impact on to the risk of the banks analyzed, for both events observed.
Kolasinski, Adam. "Essays in corporate finance and financial institutions." Thesis, Massachusetts Institute of Technology, 2006. http://hdl.handle.net/1721.1/37112.
Повний текст джерела"June, 2006."
Includes bibliographical references.
Chi: Subsidiary Debt, Capital Structure, and Internal Capital Markets I investigate external subsidiary debt financing and its implications for internal capital markets. I find that firms tend to finance business segments with subsidiary debt when those segments have better investment opportunities than the rest of the firm, and such debt tends to be parent-guaranteed. I also find that having such debt outstanding significantly reduces the effect of a segment's cash flow on the capital expenditures of other segments. These findings suggest that firms use subsidiary debt to protect their stronger segments from the underfunding or "poaching" problems modeled in theories of internal capital markets. In addition, I find that firms use subsidiary debt for reasons related to traditional capital structure concerns. Ch2: Is the Chinese Wall too High? I test whether new regulatory restrictions on cooperation between analysts and investment bankers adversely affect equity research coverage. Contrary to the hypothesis, I find that firms engaging in SEO's enjoy just as large an increase in analyst coverage in the post-regulatory period as they do in the pre-regulatory period.
(cont.) In addition, while I find that analyst coverage in the post regulatory period significantly declines for new IPOs, it declines by an equal amount for a control group of comparable firms that pay no such fees. Making the identifying assumption that any adverse consequences of the new restrictions should be larger for IPO's, I conclude that the restrictions have no adverse impact on analyst coverage. Ch3: Investment Banking and Analyst Objectivity' This chapter uncovers evidence that conflicts of interest arising from M&A advisory relations influence analysts' recommendations, corroborating regulators' and practitioners' suspicions on a topic not previously examined in the academic literature. In addition, the M&A context allows us to disentangle the conflict of interest effect from selection bias. We find that analysts affiliated with acquirer advisors upgrade acquirer stocks around M&A deals, even around all-cash deals, wherein selection bias is unlikely. Also consistent with conflict of interest, but not selection bias, target-affiliated analysts publish optimistic reports about acquirers after, but not before, the exchange ratio of an all-stock deal is set.
by Adam C. Kolasinski.
Ph.D.
Loranth, Gyöngyi. "Essays on Financial Markets Strategies." Doctoral thesis, Universite Libre de Bruxelles, 2002. http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/211358.
Повний текст джерелаNgobeni, Sonia Nokuthula. "Challenges of financial management in Mopani District Schools, Limpopo Province." Thesis, University of Limpopo, 2015. http://hdl.handle.net/10386/1687.
Повний текст джерелаWhen the ANC-led government took power in 1994, it made commitment to redress the imbalances of the past by providing capacity building of SGBs on financial management skills. The government enacted the South African School Act (SASA) no. 84 of 1996 as one of the policies aimed at improving the quality of education. The SASA, Section 19 directs the Head of Department(HOD) to provide introductory training to the SGBs to enable them to perform their financial functions. Despite some strides made by the democratic government on capacity building of SGBs, the findings of these study revealed that schools’ financial management remains a very serious challenge to some schools. The aim of this study was to examine the financial management challenges of the Mopani District Schools in the Limpopo Province. The SASA mandates SGBs to account on the management of public funds in schools. Qualitative and quantitative methods were used in this research study. The literature review reveals that SGB members are ill-equipped for their financial roles because they are inadequately trained. The literature review also shows that the SGBs can make informed decisions if they are adequately trained and conversant with the language used in finance policies and finance documents. The study found that; some SGB members have not been subjected to training in financial management. Some only have primary school education and the language used in the financial documents and financial transactions makes it difficult for them to perform their financial responsibilities. Some budgets are only developed for compliance with departmental directive but not realistic because of the lack of SGB capacity. Budget implementation is a challenge hence schools incur expenditure not budgeted for. Some schools do not have internal control. The recommendations briefly outline the findings of this study that and change the status quo if implemented.
Styles, Mikala. "A Financial Epidemic: How Financial Literacy Affects College Students’ Financial Management Practices and the Debt Crisis in America." Digital Commons @ East Tennessee State University, 2018. https://dc.etsu.edu/honors/444.
Повний текст джерелаRaj, Sakshi. "The Effectiveness of Government Mandated Disclosure Reform." ScholarWorks@UNO, 2018. https://scholarworks.uno.edu/td/2561.
Повний текст джерелаGodwin-Opara, Margaret N. "A Resource-Based Perspective on Financial Resource Strategies for Small Business Sustainability." ScholarWorks, 2016. https://scholarworks.waldenu.edu/dissertations/2819.
Повний текст джерелаFairhurst, Douglas J. "Financial Flexibility and Short-Term Financing Needs: Evidence from Seasonal Firms." Diss., The University of Arizona, 2014. http://hdl.handle.net/10150/316777.
Повний текст джерелаBelmkadem, Amine. "Les contrôles des Cours régionales des comptes sur la gestion financière locale au Maroc." Thesis, Paris 1, 2016. http://www.theses.fr/2016PA01D078.
Повний текст джерелаThis thesis focuses on "controls of Regional Courts of account on local financial management in Morocco." The challenge is to study the performance of different control exerced by CRC and especially that of management contrai, which is the main mission of the financial jurisdictions. The Regional Audit is responsible for carrying out the audit and control of the management of local authorities and their groupings in accordance with Article 98 of the constitution. The difficulty lies in the link between contrai of regularity and control of the management and the effectiveness of the latter to regulate the management of local finances in Morocco. The dilemma is accentuated when the non-compliance of legal rules which tell the relationship between state and local communities and the goal of optimal efficiency dictated by the rules of good management of local authorities. Indeed, all contrai is effective only through its ability to adapt to the environment in which it operates. Such an environment is inevitably a changing component over time influences the way to involve local authorities. Indeed, the decentralization and deconcentration that knows the Morocco was accompanied by the reduction of guardianship and the adoption of the proposed advanced regionalization. Such a movement has erected local authorities in an integrated space in which local elected officiais, regulators, businesses, civil society, the Regional Courts of accounts and all the partners should seek to make contributions to improve the experienGe of citizens. However, the fact is that community management is without remarkable development. And to manage the local authorities it is for councils to implement the necessary means to optimize their current operating expenses and free up resources for investment. A reflection pushed leads us to the question of how to combine the audit adapted to control a legal and policy objective and regulatory control adapted to a management objective ?Local finance control occupies a privileged position in the economic and social development model of Morocco. The whole chain of control practiced on local communities, the management control exercised by the Regional Courts of accounts is a management- tool and recovery of local public management whose objective is to compare the results with agreed targets to correct actions and bring the results to the objectives. Thus the management control would be achieved without a thorough overhaul of the organization of the Regional Courts of accounts and their mode of operation and the development of the internai and extemal environment of local authorities. While starting the findings, the work aims to reflect on the creation of a new local financial govemance and improving the quality and performance of the interventions of Regional Court of account. So we're referring to the internai efficiency and extemal effectiveness. The first relates to the quality of interventions Regional Audit regarding the second is related to the extemal environment in which operate these high control institutions. So after reviewing the practice of management control as currently applied and thoroughly dissect other neighboring control types in order to lift the ambiguity and analyze the strengths and limitations of each study is to look to explain how a more sui table control to the evolving context of local authorities
Weiss, Susan F. "Implications of Executive Succession Upon Financial Risk and Performance." ScholarWorks, 2011. https://scholarworks.waldenu.edu/dissertations/958.
Повний текст джерелаGana, Clifford Velapi. "Towards an effective and efficient financial management system at Bankuna High School of the Department of Education in the Limpopo Province." Thesis, University of Limpopo (Turfloop Campus), 2005. http://hdl.handle.net/10386/841.
Повний текст джерелаThis research has attempted to investigate whether there were proper financial controls at Bankuna High School of the Ritavi Circuit in the Tzaneen Area of the Limpopo Province of the Republic of South Africa. The researcher has, after an extensive evaluation of data arrived at some conclusions and he had made a few recommendations. The researcher is of the belief that the results of this research can be applied in most former historically disadvantaged African schools. Also this study can help Provincial Departments of Education in their future training on Financial Management for poor African schools.
Laird-Smith, James. "Market Betas on the JSE: Factor selection, estimation and empirical evaluation." Master's thesis, University of Cape Town, 2017. http://hdl.handle.net/11427/25364.
Повний текст джерелаRobles, Cruz Evelyn Lucero, and Lima Jhoselin Mariela Suarez. "El impacto de los gastos asociados al financiamiento de corto plazo en la gestión financiera de las MYPES del emporio comercial de Gamarra, año 2019." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2021. http://hdl.handle.net/10757/657647.
Повний текст джерелаThis research seeks to analyze the impact of expenses associated with short-term financing on the financial management of the MYPES of the commercial emporium of Gamarra during the year 2019. At the same time, the impact on financial management will be analyzed considering its two dimensions that they are profitability and investment decision making. In the first instance, an exhaustive bibliographical research was carried out on the theories regarding the types of financing, the expenses associated with short-term financing, financial management, profitability and decision-making. This information was the basis for the present investigation since it is necessary to make these concepts known. Likewise, variables and indicators were identified to be able to measure the impact, as well as dimensions, this in order to be able to have a greater scope of the analysis. The research work is under a mixed approach, that is, qualitative and quantitative based on interviews with experts with experience in the textile sector and surveys carried out with the MYPES of the commercial emporium of Gamarra. The results were worked with SPSS software in order to validate the hypotheses raised. Finally, a practical case will be developed to show the impact of short-term financing expenses on the financial management of MSEs, analyzing the impact of expenses associated with two types of short-term financing that were considered more recurrent.
Tesis
Isaac, Dominic Ugochukwu. "Human Resources Management Professionals' Experience with Online Degree Holders in Recruitment." ScholarWorks, 2019. https://scholarworks.waldenu.edu/dissertations/7231.
Повний текст джерелаYANG, Jingyu. "Management earnings forecast decisions in a regulated regime : evidence from China." Digital Commons @ Lingnan University, 2015. https://commons.ln.edu.hk/fin_etd/11.
Повний текст джерелаMwangi, George. "Relationship between Firm Performance and CEO's Stock Options in U.S. Pharmaceutical Companies." Thesis, Walden University, 2016. http://pqdtopen.proquest.com/#viewpdf?dispub=10245104.
Повний текст джерелаThe CEO’s compensation policy is one of the most important factors in an organization’s success. CEO’s stock options are awarded to align the interests of the CEO with the interests of the firms’ stakeholders. However, lack of understanding of the relationship between firm performance and a CEO’s stock options could threaten the alignment of a CEO’s interests with those of the stakeholders. Grounded in agency theory, the purpose of this correlation study was to examine the relationship between return on equity, return on investment, total annual revenues, and CEOs’ stock options awards, while controlling for firm size, age of CEO, and CEO tenure. Archival data from 99 U.S. pharmaceutical companies were analyzed using hierarchical linear regression. The results of the hierarchical regression analysis indicated a significant predictive model F(6, 262) = 42.065, p < 0.05, R2 = .343. However, in the final model, only firm size and CEO tenure were significant. In addition, there was no significant relationship between return on equity, return on investments, and annual revenues to CEOs’ stock options. The implications for positive social change include the potential for policy makers to utilize findings in furthering dialogue related to income inequality and feeling of unfair distribution of valuable resources in the society. Pharmaceutical business leaders might affect social change by structuring CEOs’ compensation based on firm performance, encouraging innovation, and improving employment opportunities in the society.
Njoku, George Chibuzo. "The Impact of Corporate Governance on Working Capital Management in Nigerian Organizations." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/4395.
Повний текст джерелаHorrocks, Amanda Marie. "Financial Management Practices and Conflict Management Styles of Couples in Great Marriages." DigitalCommons@USU, 2010. https://digitalcommons.usu.edu/etd/733.
Повний текст джерелаGaddour, Inès. "Contribution à l'étude de la qualité de l'audit : une approche fondée sur le management des équipes et le comportement des auditeurs." Thesis, Paris Sciences et Lettres (ComUE), 2016. http://www.theses.fr/2016PSLED013/document.
Повний текст джерелаThis study develops and empirically tests an explanatory model in order to study the dysfunctional behaviors of financial auditors.The literature review allows to identify the main factors having a significant impact on malfunctions (budget pressure, time deadline pressure...). This research proposes extending the scope of the determinants in a relational and managerial perspective. To this end, it mobilizes mainly Leader-Member Exchange theory (LMX), but also the role modeling and the assessment style of auditors performance.Our study is based on a questionnaire which was sent to senior auditors who work in the large auditing networks which constitute the main actors of the audit market in France, specifically of Anglo-Saxon (Big 4) and French (Mazars) origins.To test our hypotheses, the estimation method of Seemingly Unrelated Regression (SUR) was applied.The results show that the three dimensions of Leader Member-Exchange (LMX), namely affection, loyalty and contribution have a negative and significant impact on the adaptive behaviors (respectively unprofessional behaviors: CNP, mismanagement of the audit team: MGE and Quality-Threatening Behavior: QTB). Also, results highlight under the effect of mimetic, managerial behaviors adopted by a superior have been shown to reduce the MGE, but also QTB and CNP. In addition, it was revealed that a favorable perception of organizational support and an evaluation focused on social criteria result in less QTB and MGE respectively.Finally, the analyses confirm the results of previous research concerning the impact of the style assessment based on technical criteria, affective commitment, budget pressure and time deadline pressure on such types of behavior
Salaberrios, Ivan Justin. "The Effects of Using Invoice Factoring to Fund a Small Business." Thesis, Walden University, 2016. http://pqdtopen.proquest.com/#viewpdf?dispub=10006985.
Повний текст джерелаSmall business owners often do not possess the financial literacy to implement invoice factoring to fund their business. Despite that lack of knowledge, an increasing number of small business owners are using invoice factoring as their primary source of funding. Guided by a systems thinking approach, the purpose of this exploratory multiple case study was to understand the effect of invoice factoring of 5 small business owners, 5 small business finance managers, and 5 factoring program managers, all of whom managed factoring programs and technical services companies with less than $3 million in annual revenues. Participants were located in 6 states with data collected through semi-structured Skype and telephone interviews. Data were analyzed according to the Krippendorff method. Member checking and transcript review established trustworthiness and credibility of interpretations. Three themes emerged from interviews: owner eligibility for traditional capital sources, profit margins, and third-party relationships. The small business owners were not eligible for traditional funding options. Factoring administrators and small business owners cited that companies with better profit margins implemented invoice factoring successfully. Finance managers mentioned that factoring companies acted as a third-party to the invoicing and collection processes. Social implications include a contribution to the advancement of small business success rates and to an entrepreneur’s preparation to launch a business venture properly.
Lyonga, Edmond Njombe. "Risks Management Application in Helping the Poor Through Microfinancing." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/4460.
Повний текст джерелаWatse, Dije Umaru. "Sources of Financing for Small and Medium Enterprises in Nigeria." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/4690.
Повний текст джерелаYANG, Ziyun. "The value-relevance of asset write-down regulations in China : the roles of information relevance and measurement reliability." Digital Commons @ Lingnan University, 2003. https://commons.ln.edu.hk/otd/7.
Повний текст джерелаDudek, Jérémy. "Illiquidité, contagion et risque systémique." Phd thesis, Université Paris Dauphine - Paris IX, 2013. http://tel.archives-ouvertes.fr/tel-00984984.
Повний текст джерелаEllis, Matthew. "An Examination of the Breadth of the Coinsurance Effect: The Effect of Labor Leverage on Acquirer Returns." Scholarship @ Claremont, 2013. http://scholarship.claremont.edu/cmc_theses/616.
Повний текст джерела