Download or read book COUVERTURE DYNAMIQUE OPTIMALE DU RISQUE DE CHANGE DE LONG TERME POUR UNE ENTREPRISE written by RAFAL.. WOJAKOWSK and published by . This book was released on 1997 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: CHAPITRE 1: COUVERTURE DU RISQUE DE CHANGE EN MARCHE COMPLET. LE CONCEPT DU RISQUE DE CHANGE DE LONG TERME EST DEFINI PAR OPPOSITION AU RISQUE DE CHANGE "CLASSIQUE". LA COUVERTURE OPTIMALE INTERTEMPORELLE DU RISQUE DE CHANGE POUR UNE ENTREPRISE EST DERIVEE PAR LA METHODE DE CONTROLE OPTIMAL STOCHASTIQUE, DANS LE CADRE D'UN MODELE OU LE TAUX DE CHANGE SUIT UN PROCESSUS GAUSSIEN AVEC RETOUR VERS LE NIVEAU DE PARITE. IL EST DEMONTRE QU'UNE TELLE COUVERTURE EST UNE COUVERTURE EN VALEUR, QUI STABILISE LE FLUX DES DIVIDENDES ET DEPEND DU NIVEAU DU TAUX DE CHANGE PAR RAPPORT AU TAUX DE PARITE. LE MODELE EST RICHE EN RECOMMANDATIONS PRATIQUES POUR LA GESTION DES RISQUES DANS UNE ENTREPRISE. IL APPARAIT QUE L'ENTREPRISE DEVRAIT SE COUVRIR PLUS SI LE NIVEAU DU TAUX DE CHANGE EST AU-DESSUS DU NIVEAU DE PARITE AFIN DE GELER LES PROFITS ET ADOPTER UN COMPORTEMENT INVERSE DANS LE CAS CONTRAIRE. CHAPITRE 2: COUVERTURE DU RISQUE DE CHANGE EN MARCHE INCOMPLET. CET ESSAI CONCERNE LE PROBLEME DE COUVERTURE DU RISQUE DE CHANGE DE LONG TERME EN PRESENCE DES ACTIFS NON-ECHANGEABLES DANS LE CONTEXTE DES MARCHES INCOMPLETS. L'INCOMPLETUDE EST GENEREE DANS LE MODELE PAR UN RISQUE MULTIPLICATIF ET NON-COUVRABLE DE TAILLE DU FLUX PROVENANT DU PAYS ETRANGER. LA COUVERTURE OPTIMALE EST OBTENUE PAR LA METHODE DITE DE COMPLETION FICTIVE. IL EST DEMONTRE QUE L'INCOMPLETUDE REDUIT CONSIDERABLEMENT LA TAILLE DE COUVERTURE, PAR RAPPORT A CELLE OBSERVEE EN MARCHE COMPLET. CHAPITRES 3: COUVERTURE DU RISQUE DE CHANGE ET DECISION D'INVESTISSEMENT. CET ESSAI ABORDE LES ASPECTS CONCERNANT L'ARRIVEE DE L'INFORMATION ET LA PRISE DE DECISION DE COUVERTURE OPTIMALE DU RISQUE DE CHANGE ET CELLE D'INVESTISSEMENT POUR UNE ENTREPRISE, EN PRESENCE DES COUTS DE FINANCEMENT EXTERNES. IL EST DEMONTRE QUE LA POSITION OPTIMALE SUR LE MARCHE A TERME PEUT VARIER DE LA VRAIE COUVERTURE A LA PURE SPECULATION. LA PRESENCE DES ACTIFS NON-ECHANGEABLES SEMBLE JOUER UN ROLE DECISIF.
Download or read book L Entreprise face au risque de change written by Stéphane Caine and published by FeniXX. This book was released on 1989-12-31T23:00:00+01:00 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: La mondialisation croissante des marchés et l’ouverture des frontières dans le cadre du Marché Unique Européen exposent les entreprises à des risques nouveaux, dont le principal est sans doute le risque de change. La libéralisation du contrôle des changes de mars 1989 a ouvert des possibilités nouvelles de gestion du risque de change, plus performantes et plus sophistiquées. Elle rendait donc indispensable un tel ouvrage, qui présente de manière compréhensible par tous, les pièges et les remèdes face aux fluctuations des devises. Abondamment illustré par de nombreux exemples et cas concrets, et complété par des exercices et cas pratiques corrigés, ce livre vise les objectifs suivants : – proposer aux responsables d’entreprises, directeurs financiers, experts-comptables, ingénieurs et cadres, des méthodes pour évaluer leur risque de change, et des solutions opérationnelles face aux fluctuations des devises, en analysant les différentes techniques à la disposition des entreprises : marchés spot, marché à terme, swaps, options... – éclairer les étudiants des grandes écoles de commerce et d’ingénieur ainsi que des universités sur l’importance du risque de change au sein d’une entreprise et leur permettre d’appréhender, au travers des instruments de gestion du risque de change, la sophistication nouvelle de la sphère financière.
Download or read book Cover Crops in West Africa written by International Development Research Centre (Canada) and published by IDRC. This book was released on 1998 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cover Crops in West Africa Contributing to Sustainable Agriculture
Download or read book Handbook for Integrating Risk Analysis in the Economic Analysis of Projects written by Asian Development Bank and published by . This book was released on 2002 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aiming to support the development of a framework for the analysis of risk in project design and economic analysis, this handbook outlines technical approaches to modeling risk. Also summarized is the nature and practice of sensitivity analysis in dealing with uncertain outcomes as well as the principles to consider in typical risk analysis situations sector by sector. Case studies are included to demonstrate the application of quantitative risk analysis using actual Asian Development Bank projects to help improve project design and quality. Handbook users will learn to identify factors that are the key determinants of project outcomes, determine the likelihood of an individual project's returns being unacceptable, and design measures to mitigate the risks arising from the identified key factors.
Download or read book Derivatives in Financial Markets with Stochastic Volatility written by Jean-Pierre Fouque and published by Cambridge University Press. This book was released on 2000-07-03 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, first published in 2000, addresses pricing and hedging derivative securities in uncertain and changing market volatility.
Download or read book The Mediterranean region under climate change written by Collectif and published by IRD Éditions. This book was released on 2018-11-19 with total page 736 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book has been published by Allenvi (French National Alliance for Environmental Research) to coincide with the 22nd Conference of Parties to the United Nations Framework Convention on Climate Change (COP22) in Marrakesh. It is the outcome of work by academic researchers on both sides of the Mediterranean and provides a remarkable scientific review of the mechanisms of climate change and its impacts on the environment, the economy, health and Mediterranean societies. It will also be valuable in developing responses that draw on “scientific evidence” to address the issues of adaptation, resource conservation, solutions and risk prevention. Reflecting the full complexity of the Mediterranean environment, the book is a major scientific contribution to the climate issue, where various scientific considerations converge to break down the boundaries between disciplines.
Download or read book International Short term Capital Movements written by Charles P. Kindleberger and published by . This book was released on 1965 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book PROMOTION DE LA SANTE ET AUTONOMISATION DANS LE CONTEXTE AFRICAIN written by David HouŽto and published by Lulu.com. This book was released on 2014-02-26 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Le terme promotion de la santé en Afrique, près de 30 ans après l'adoption de la Charte d'Ottawa, continue d'avoir des connotations complètement hors du sens que lui confère cette charte. Cela n'est pas étonnant quand on sait que la notion de santé dans ce contexte africain équivaut à la lutte contre la maladie à travers les soins de santé dispensés par des professionnels de la santé dans des formations sanitaires et les hôpitaux. L'évolution que connait le continent depuis quelques décennies est de donner un peu plus de place à la communauté à travers les relais communautaires dans une participation communautaire vidée de son contenu, car le pouvoir n'est jamais passé entre les mains des communautés.C'est au vu de tout ceci que le présent ouvrage à sa raison d'être pour expliquer les fondements de l'autonomisation communautaire et de la promotion de la santé avec leur importance pour la région africaine en proie aux mauvais indicateurs de santé comparativement aux autres régions du monde.
Download or read book International Capital Markets written by John Eatwell and published by Oxford University Press, USA. This book was released on 2002 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprising 19 commissioned articles, this collection addresses the global issues of volatility in equity and foreign exchange markets and the regulatory scene in developed and emerging markets.
Download or read book Productivity Growth in Thailand written by Prānī Thinnakō̜n and published by . This book was released on 1996 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzes the sources of output growth in Thailand by using the Solow-Denison growth accounting framework.
Download or read book Risk Takers written by John Marthinsen and published by Walter de Gruyter GmbH & Co KG. This book was released on 2018-05-07 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk Takers: Uses and Abuses of Financial Derivatives goes to the heart of the arcane and largely misunderstood world of derivative finance and makes it accessible to everyone—even novice readers. Marthinsen takes us behind the scenes, into the back alleyways of corporate finance and derivative trading, to provide a bird’s-eye view of the most shocking financial disasters of the past quarter century. The book draws on real-life stories to explain how financial derivatives can be used to create or to destroy value. In an approachable, non-technical manner, Marthinsen brings these financial derivatives situations to life, fully exploring the context of each event, evaluating their outcomes, and bridging the gap between theory and practice.
Download or read book The Risks of Financial Institutions written by Mark Carey and published by University of Chicago Press. This book was released on 2007-11-01 with total page 669 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until about twenty years ago, the consensus view on the cause of financial-system distress was fairly simple: a run on one bank could easily turn to a panic involving runs on all banks, destroying some and disrupting the financial system. Since then, however, a series of events—such as emerging-market debt crises, bond-market meltdowns, and the Long-Term Capital Management episode—has forced a rethinking of the risks facing financial institutions and the tools available to measure and manage these risks. The Risks of Financial Institutions examines the various risks affecting financial institutions and explores a variety of methods to help institutions and regulators more accurately measure and forecast risk. The contributors--from academic institutions, regulatory organizations, and banking--bring a wide range of perspectives and experience to the issue. The result is a volume that points a way forward to greater financial stability and better risk management of financial institutions.
Download or read book Pricing the Planet s Future written by Christian Gollier and published by Princeton University Press. This book was released on 2013 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today, the judge, the citizen, the politician, and the entrepreneur are concerned with the sustainability of our development.
Download or read book Terra 2008 written by Leslie Rainer and published by Getty Publications. This book was released on 2011-06-14 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: Earthen architecture constitutes one of the most diverse forms of cultural heritage and one of the most challenging to preserve. It dates from all periods and is found on all continents but is particularly prevalent in Africa, where it has been a building tradition for centuries. Sites range from ancestral cities in Mali to the palaces of Abomey in Benin, from monuments and mosques in Iran and Buddhist temples on the Silk Road to Spanish missions in California. This volume's sixty-four papers address such themes as earthen architecture in Mali, the conservation of living sites, local knowledge systems and intangible aspects, seismic and other natural forces, the conservation and management of archaeological sites, research advances, and training.
Download or read book Entrepreneurship and the Growth of Firms written by Per Davidsson and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring the relationships between the growth of firms and entrepreneurship, the authors have drawn on many individual projects & case studies to provide a comprehensive analysis.
Download or read book The New Financial Order written by Robert J. Shiller and published by Princeton University Press. This book was released on 2009-02-09 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: In his best-selling Irrational Exuberance, Robert Shiller cautioned that society's obsession with the stock market was fueling the volatility that has since made a roller coaster of the financial system. Less noted was Shiller's admonition that our infatuation with the stock market distracts us from more durable economic prospects. These lie in the hidden potential of real assets, such as income from our livelihoods and homes. But these ''ordinary riches,'' so fundamental to our well-being, are increasingly exposed to the pervasive risks of a rapidly changing global economy. This compelling and important new book presents a fresh vision for hedging risk and securing our economic future. Shiller describes six fundamental ideas for using modern information technology and advanced financial theory to temper basic risks that have been ignored by risk management institutions--risks to the value of our jobs and our homes, to the vitality of our communities, and to the very stability of national economies. Informed by a comprehensive risk information database, this new financial order would include global markets for trading risks and exploiting myriad new financial opportunities, from inequality insurance to intergenerational social security. Just as developments in insuring risks to life, health, and catastrophe have given us a quality of life unimaginable a century ago, so Shiller's plan for securing crucial assets promises to substantially enrich our condition. Once again providing an enormous service, Shiller gives us a powerful means to convert our ordinary riches into a level of economic security, equity, and growth never before seen. And once again, what Robert Shiller says should be read and heeded by anyone with a stake in the economy.
Download or read book The Family Business written by Fred Neubauer and published by Springer. This book was released on 2016-07-27 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: The family business has a far reaching influence on economies throughout the world. No other type of business has driven economic development in the same way and today, in almost all countries, family businesses including such giants as Ford, Levi Strauss, L'Oréal and Ferrero are the source of more than half of the Gross National Product (GNP) and employment. As a result of their prominence the question of how they are governed, controlled and accounted for is crucial not only for the owning families, but also for the societies in which these companies operate. The Family Business considers: · How to define a family-controlled business and the significance of this form of privately-held enterprise. · Governance systems in the context of the family business. · How a board of outsiders can add value to the typical family business. · How to handle the classical tensions between family and board and between family and management on the other. · How to gain effective and efficient control at the highest level. The answer to these questions and others is given by providing a large number of examples of internationally active family businesses and from the authors teaching and research into this area. Sustainability is the key concern to the family business and this book breaks new ground in showing how they can successfully live on to the next generation.
