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Accueil > Séminaires réguliers > Séminaires Rennes IGR-IAE > Archives > Archives Finance

Archives 2011-2012

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Organisateur : Waël Louhichi

	PROGRAMME 2011-2012

	Workshop Finance

	mardi 12 juin 2012 à 14h30 - Salle du Conseil IGR/IAE

Intervenant Jean-Marc Suret - Laval University, Québec, Canada
Titre / title «  Stock Market and Corporate Social Responsibility : a Long-Run Analysis of the Major Industrial Crises  »
Résumé / Abstract

	mardi 5 juin 2012 à 14h30 - Salle du Conseil IGR/IAE

Intervenants Ismaïl Lahlou et Dima Tawil - Université de Rennes 1, IGR/IAE, CREM CNRS

	mercredi 9 mai 2012 à 14h30 - Salle du Conseil IGR/IAE

Intervenant Martial Phélippé-Guinvarc’h Actuaire agricole - Chercheur (Groupama)

	vendredi 6 avril 2012 à 14h30 - Amphi 2 IGR/IAE

Intervenant Georges Hübner - HEC Liège, Belgique

	mardi 27 mars 2012 à 14h30 - Salle du Conseil IGR/IAE

Intervenante Carole Bernard - Waterloo University, Ontario, Canada

	lundi 5 mars 2012 à 14h30 - Salle du Conseil IGR/IAE

Intervenant Bogdan Negrea - ASE, Bucarest, Roumanie
Titre / title «  The Financial Crises Magnitude : An Approach Based on Earthquake Richter Scale  »
Résumé / Abstract By analogy with the Richter scale used to determine the earthquake magnitude, the paper proposes a statistical measure for the magnitude of the « financial earthquake » by means of the market energy. The energy released by the market is defined by means of the trading volume and the market volatility. The « financial earthquake » occurs if the market energy is higher than an estimated threshold market energy called critical energy. The paper shows that the statistical pattern of the market crash is given by two statistic law regimes : Pareto and Wakeby distribution laws.

	Mardi 28 février 2012, à 14h30 - Salle du Conseil IGR/IAE

Intervenant Jérémy Morvan - IAE Brest, France
Titre / title «  Refinancing and shareholder value : covered bond issuances between 2007 and 2010  »
Résumé / Abstract This paper deals with an event study assessing the influence of covered bond issuance on European banks’ share prices. Covered bonds are debt securities backed by mortgages. In contrast to CDOs, mortgages remain on the issuer’s consolidated balance sheet. We show that covered bond issuances have a positive influence on issuers’ share prices with a three days’ delay. So, the stock market reacts not to the issuance announcement but to the success of the issuance.
Lien / Download Abstract

	Mardi 31 janvier 2012, à 14h30 - Salle du Conseil IGR/IAE

Intervenante Elisa Luciano - Professeur à l’Université de Turin, Italie
Résumé / Abstract This paper deals with an event study assessing the influence of covered bond issuance on European banks’ share prices. Covered bonds are debt securities backed by mortgages. In contrast to CDOs, mortgages remain on the issuer’s consolidated balance sheet. We show that covered bond issuances have a positive influence on issuers’ share prices with a three days’ delay. So, the stock market reacts not to the issuance announcement but to the success of the issuance.
Lien / Download Abstract

	Mardi 17 janvier 2012, à 14h30 - Salle du Conseil IGR/IAE

Intervenant Michel Magnan - Professeur à l’Université de Concordia, Canada
Titre / title «  Conservatism, Internal Controls and the Yield Spread of New Bond Issues  »
Lien / Download Abstract

	Mardi 13 décembre 2011, à 14h30 - Salle 313 - IGR/IAE

	Séminaire doctoral interne

	Mardi 22 novembre 2011, à 14h30 - Salle du Conseil IGR/IAE

Intervenant Salma Kasbi - Maître de conférences, Université de Cergy Pontoise
Titre / title «  Patented Innovations and M&A Activity  »
Résumé / Abstract Since the early 1980’s, the US legislation strengthened patent protection and broadened the use of patents leading to a remarkable growth of the patenting activity over the last three decades. Firms patent their innovations to protect their profits but also to prevent their rivals from introducing related innovations. This paper examines the role played by patents on industry structure. We find that industries M&A activity is positively related to its patenting level and that merger waves are more likely to start in actively patenting industries. On the firm level, we find that patenting and the quality of the patent portfolio significantly influence the likelihood of engaging in a merger transaction as a bidder but mostly as a target. Patenting also increases the probability of being taken over for less attractive firms (in terms of size, ales growth…).

	Mardi 18 octobre 2011, à 10h - Salle du Conseil IGR/IAE

Intervenant Jean-Gabriel Cousin - Maître de conférences, Université de Lille 2
Titre / title «  Firm Uncertainty and Financial Analysts’ Activity  »
Lien / Download Abstract