AXA Investment Managers
Gagnant dans la catégorie
“Best Fixed Income – Specialist Fund House”
La Libre & De Standaard Morningstar Fund Awards - AXA IM – Gagnant dans la catégorie“Best Fixed Income – Specialist Fund House”(sur 35 participants) Morningstar Fund Awards - Bruxelles, 24 mars 2011 - Les résultats des prix...
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AXA Investment Managers Gagnant dans la catégorie “Best Fixed Income – Specialist Fund House” La Libre & De Standaard Morningstar Fund Awards - AXA IM – Gagnant dans la catégorie“Best Fixed Income – Specialist Fund House”(sur 35 participants) Morningstar Fund Awards - Bruxelles, 24 mars 2011 - Les résultats des prix ont été publiés dans La Libre Belgique et De Standaard du 24 mars 2011. TREASURY MANAGEMENT No. 1/Mars 2011 SUPPLÉMENT RÉALISÉ PAR MEDIAPLANET Jean Mandeville:«Lescréditsdeviendrontpluschersvuque lesbanquesaurontforcémentbesoindedavantagederéserves. » Recouvrement Comment des sociétés spécialisées récupèrent votre argent Relever les défis Tout en se protégeant des risques, une utopie ? 4CONSEILS POUR ASSURER SA SOLVABILITÉ Jean Mandeville Membre du conseil d’administration et du comité audit d’Interxion BIEN GÉRER VOTRE TRÉSORERIE
Moins
Par mialiravina
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Publiée le 26 Oct. 2011
Pages: 11
Lectures: 39
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New on the Horizon:
Fair value option for financial
liabilities
International Financial Reporting Standards
May 2010
Par mialiravina
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Publiée le 27 Sept. 2011
Pages: 20
Lectures: 0
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L’AUBE NOUVELLE L nº 47 L hiver 2003 / 2004 07
L’Aube,solidaire et ambitieuse
Pour 2004,le Conseil général dote l’Aube
d’un budget de 256 millions d’euros.
De quoi
nourrir d’ambitieux projets (routes,économie,
tourisme,formation,sport…),tout en restant
solidaire avec ceux qui sont dans le besoin.
>>>
dossierliDossier...
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L’AUBE NOUVELLE L nº 47 L hiver 2003 / 2004 07 L’Aube,solidaire et ambitieuse Pour 2004,le Conseil général dote l’Aube d’un budget de 256 millions d’euros. De quoi nourrir d’ambitieux projets (routes,économie, tourisme,formation,sport…),tout en restant solidaire avec ceux qui sont dans le besoin. >>> dossierliDossier réalisé par Marie-Pierre Moyot, illustrations : Philippe Dubois. BUDGET2004 Ce qui fait la sève de l’Aube CONSEIL GÉNÉRAL
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Par mialiravina
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Publiée le 24 Fév. 2010
Pages: 3
Lectures: 4
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L’AUBE NOUVELLE L nº 46 L automne 2003 15L’AUBE NOUVELLE L nº 46 L automne 200314
économiel
sBÂTIMENT ET TRAVAUX PUBLICS
ter 400 emplois indirects (conception, matériaux, location de matériel…).
» Une manne
pour le BTP aubois qui, avec 590 M€ hors
taxes de chiffre d’affaires et 6000 salariés,
est l’un des tout...
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L’AUBE NOUVELLE L nº 46 L automne 2003 15L’AUBE NOUVELLE L nº 46 L automne 200314 économiel sBÂTIMENT ET TRAVAUX PUBLICS ter 400 emplois indirects (conception, matériaux, location de matériel…). » Une manne pour le BTP aubois qui, avec 590 M€ hors taxes de chiffre d’affaires et 6000 salariés, est l’un des tout premiers secteurs d’activité du département. «La commande du Conseil général permet de maintenir un bon niveau d’activité y compris en zone rurale, puisqu’il y a quasiment un artisan du bâtiment dans chaque commune. » LEPOIDSDESCHANTIERSROUTIERS Même satisfecit du côté du SPRIR, un syndicat qui fédère 40 entreprises régionales de l’industrie routière. «Rien que pour notre syndicat, les travaux routiers du Conseil général financent une part significative des 400 emplois directs et des 150emplois indirects – loueurs, transporteurs, intérimaires, soustraitants, relève Patrick Thomassin, vice-président Aube. À titre d’exemple, la vélovoie des Lacs représente 21500 heures de travai
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Par mialiravina
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Publiée le 24 Fév. 2010
Pages: 1
Lectures: 5
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Dossier réalisé par Marie-Pierre Moyot
Illustrations: Serge Blochi dossierl
L’aube mesure
sa force d’attraction
s Budget du conseil général
Par mialiravina
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Publiée le 24 Fév. 2010
Pages: 3
Lectures: 4
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dossierliDossier réalisé par Marie-Pierre Moyot
Photo : Philippe Praliaud
Un plan « recherche » sur 5 ans, un fort investissement, davantage d’action sociale – sans
augmenter les impôts ni faillir aux autres
missions –, c’est l’équation du budget 2005 du
Conseil général de l’Aube.
BUDGET
Coupd’accélérateur...
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dossierliDossier réalisé par Marie-Pierre Moyot Photo : Philippe Praliaud Un plan « recherche » sur 5 ans, un fort investissement, davantage d’action sociale – sans augmenter les impôts ni faillir aux autres missions –, c’est l’équation du budget 2005 du Conseil général de l’Aube. BUDGET Coupd’accélérateur àl’innovation
Moins
Par mialiravina
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Publiée le 24 Fév. 2010
Pages: 3
Lectures: 2
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International Business & Economics Research Journal – October 2007 Volume 6, Number 10
89
Global Trends And Debt Relief For Asia,
Latin America, And Africa:
A Multiple Discriminant Analysis
Farhad F.
Ghannadian, (E-mail: ghannadian_f@mercer.
edu), Mercer University
John R.
Miller, (E-mail: Miller_jr@mercer.
edu), Mercer...
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International Business & Economics Research Journal – October 2007 Volume 6, Number 10 89 Global Trends And Debt Relief For Asia, Latin America, And Africa: A Multiple Discriminant Analysis Farhad F. Ghannadian, (E-mail: ghannadian_f@mercer. edu), Mercer University John R. Miller, (E-mail: Miller_jr@mercer. edu), Mercer University ABSTRACT Emerging country debt levels are at an all time high. There seems to be a great need to find a solution to the mounting level of external debt in the continents of Asia, South America and Africa. Utilizing multiple discriminant analysis this study looks at whether indebted countries in the various continents responded differently to macroeconomic factors and whether the level of debt made those economies respond to macroeconomic measures. This study supports the notion that Asian countries are more affected by debt factors influencing their economies than countries in Latin America or Africa. The study further shows that va
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Par mialiravina
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Publiée le 3 Juin 2009
Pages: 6
Lectures: 31
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Journal of Applied Business Research – Second Quarter 2007 Volume 23, Number 2
47
Changes To Accounting For Defined
Benefit Postretirement Plans:
Discussion And Illustration
Norman H.
Godwin, Auburn University
Arlette C.
Wilson, Auburn University
INTRODUCTION
equests that the Financial Accounting Standards Board (FASB)...
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Journal of Applied Business Research – Second Quarter 2007 Volume 23, Number 2 47 Changes To Accounting For Defined Benefit Postretirement Plans: Discussion And Illustration Norman H. Godwin, Auburn University Arlette C. Wilson, Auburn University INTRODUCTION equests that the Financial Accounting Standards Board (FASB) address issues related to employers’ accounting for defined benefit postretirement plans have increased in recent years. Those requests have been made by users of financial statements and others, including the Securities and Exchange Commission (SEC) staff and representatives of the Pension Benefit Guaranty Corporation. Constituents are interested in improved transparency and understandability. Agreeing that the accounting for defined benefit postretirement plans should be reconsidered, the FASB added the project to its agenda in November 2005. The first phase of the project is complete and addresses the reporting of a plan’s funded status. U
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Par mialiravina
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Publiée le 3 Juin 2009
Pages: 8
Lectures: 48
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Journal of Business & Economics Research – July 2008 Volume 6, Number 7
113
Nonlinearity And The Forward
Premium Anomaly
Apostolos Xanthopoulos, Illinois Institute Of Technology
ABSTRACT
Speculative efficiency (the ability to profit without bearing commensurate risk in foreign exchange
markets) is predicated on the forward...
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Journal of Business & Economics Research – July 2008 Volume 6, Number 7 113 Nonlinearity And The Forward Premium Anomaly Apostolos Xanthopoulos, Illinois Institute Of Technology ABSTRACT Speculative efficiency (the ability to profit without bearing commensurate risk in foreign exchange markets) is predicated on the forward premium anomaly. Market efficiency still manifests itself in the form of nonlinear adjustments, eroding excess profits. The returns on foreign exchange speculation may not behave in a market-efficient manner except at average values of interest-rate differentials. This study suggests that market efficiency holds as a result of a hedging relation between linear and nonlinear responses of returns. Keywords: Efficient-market hypothesis, speculative returns, hyperbolic-tangent response, hedging. 1 INTRODUCTION mpirical evidence that contradicts anticipated economic relationships lead researchers to the exploration of nonlinear systems. Returns
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Par mialiravina
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Publiée le 3 Juin 2009
Pages: 16
Lectures: 23
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Journal of Business & Economics Research – August 2007 Volume 5, Number 8
91
New Equity Performance
Following Chapter 11 Emergence
Nicholas K.
Wold, Colorado College
Judith A.
Laux, (E-mail: jlaux@coloradocollege.
edu), Colorado College
ABSTRACT
This body of research investigates how the performance of exchange-traded...
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Journal of Business & Economics Research – August 2007 Volume 5, Number 8 91 New Equity Performance Following Chapter 11 Emergence Nicholas K. Wold, Colorado College Judith A. Laux, (E-mail: jlaux@coloradocollege. edu), Colorado College ABSTRACT This body of research investigates how the performance of exchange-traded common equity from firms in Chapter 11 bankruptcy emergence compares with common stock from non-bankrupt competitors and recently public peers in short and long-term time horizons. Return data are gathered for a sample of sixteen financially restructured companies, each paired with two nondistressed industry competitors and one recently-public peer. Using the Capital Asset Pricing Model as a primary analytical tool, empirical tests show a positive correlation in equity returns among the samples of restructured and non-distressed market competitors and a stock underperformance from the sample of IPO competitors. These results suggest that markets ar
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Par mialiravina
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Publiée le 3 Juin 2009
Pages: 6
Lectures: 26
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The Journal of Applied Business Research – Spring 2005 Volume 21, Number 2
91
Away With SWOT Analysis:
Use Defensive/Offensive Evaluation Instead
Erhard K.
Valentin, Weber State University
ABSTRACT
SWOT analysis, which delves into a business strengths, weaknesses, opportunities, and threats, is
used widely in firms and...
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The Journal of Applied Business Research – Spring 2005 Volume 21, Number 2 91 Away With SWOT Analysis: Use Defensive/Offensive Evaluation Instead Erhard K. Valentin, Weber State University ABSTRACT SWOT analysis, which delves into a business strengths, weaknesses, opportunities, and threats, is used widely in firms and classrooms to distill fragmentary facts and figures into concise depictions of the strategic landscape. Yet despite its popularity and longevity, the SWOT approach to situation assessment often is ineffective. This article begins with a brief critique of the SWOT framework and typical SWOT analysis guidelines. Thereafter, Defensive/Offensive Evaluation (DOE) is advanced as an effective alternative to SWOT analysis. Because DOE is more theory-driven, it poses keener questions and promises more illuminating answers. 1. 0 INTRODUCTION WOT analysis entails portraying a business internal context in terms of strengths and weaknesses and scouring i
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Par mialiravina
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Publiée le 3 Juin 2009
Pages: 15
Lectures: 365
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Journal of Business Case Studies – June 2008 Volume 4, Number 6
19
The Falkens: A Tax Case
Lynda S.
Livingston, University of Puget Sound
ABSTRACT
Personal finance students want to learn about taxes.
Personal finance texts, however, often
concentrate on an overview of the tax system; since rules and forms change annually,...
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Journal of Business Case Studies – June 2008 Volume 4, Number 6 19 The Falkens: A Tax Case Lynda S. Livingston, University of Puget Sound ABSTRACT Personal finance students want to learn about taxes. Personal finance texts, however, often concentrate on an overview of the tax system; since rules and forms change annually, textbook authors concentrate their short problems on the fundamentals. The Falken case allows students to use actual forms and schedules to complete a comprehensive example. Instructors can include only those “modules” that meet their students’ needs, and they easily can update the exhibits as laws change. INTRODUCTION t is difficult for personal finance textbooks to provide comprehensive tax examples. Laws and forms change annually, and students‟ needs vary. Once a comprehensive example is published, it is already obsolete; it is much easier, then, for textbook authors to concentrate on big-picture concepts, such as distinguishing among e
Moins
Par mialiravina
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Publiée le 3 Juin 2009
Pages: 16
Lectures: 31
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Journal of Business & Economics Research – September 2006 Volume 4, Number 9
43
Capital Ownership And Its Impact On
International Trade And Economic Growth:
The Tunisian Experience
Khalifa H.
Ghali, Kuwait University, The State of Kuwait
Hedi Trabelsi, Faculte des Sciences Economiques et de Gestion, Tunis - Tunisia
ABSTRACT...
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Journal of Business & Economics Research – September 2006 Volume 4, Number 9 43 Capital Ownership And Its Impact On International Trade And Economic Growth: The Tunisian Experience Khalifa H. Ghali, Kuwait University, The State of Kuwait Hedi Trabelsi, Faculte des Sciences Economiques et de Gestion, Tunis - Tunisia ABSTRACT Despite the widespread belief that a privatized economy performs better than a centrally planned one, there is no empirical evidence on whether changing the structure of capital ownership affects trade and growth in developing countries. This paper addresses this issue by analyzing and comparing the distinctive effects of privately and publicly owned capital on international trade and economic growth. Based on a modified version of the neo-classical one-sector aggregate production technology, we investigate the intertemporal interactions among the growth rate of real output, private capital, public capital, international trade and labor. The re
Moins
Par mialiravina
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Publiée le 3 Juin 2009
Pages: 14
Lectures: 42
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Journal of Business & Economics Research – November, 2008 Volume 6, Number 11
81
The Case For Emerging Market Funds
Stuart Michelson, Stetson University, USA
Elena Philipova, Stetson University, USA
Petra Srotova, Stetson University, USA
ABSTRACT
This study investigates the performance of open-end actively managed emerging...
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Journal of Business & Economics Research – November, 2008 Volume 6, Number 11 81 The Case For Emerging Market Funds Stuart Michelson, Stetson University, USA Elena Philipova, Stetson University, USA Petra Srotova, Stetson University, USA ABSTRACT This study investigates the performance of open-end actively managed emerging market mutual funds during the time period 1999 to 2005. Our analysis is cross-sectional and time series across a wide range of emerging markets. Previous research includes performance studies of international mutual funds and emerging market funds, but none of the previous studies were as broad nor as specific as the current study. Monthly fund returns are compared to three indices (emerging markets, MSCI, and S&P 500 Index), using annualized returns, Sharpe ratio and Treynor ratio. The results show that the emerging market funds outperform the MSCI Index and the S&P 500 Index, but not the emerging market index. During the study period, an in
Moins
Par mialiravina
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Publiée le 3 Juin 2009
Pages: 8
Lectures: 22
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The Journal of Applied Business Research Volume 19, Number 4
49
Fixed Or Variable Rate Choice
In The Commercial Bank
Business Loan Market
Manoj Athavale, Ball State University
Robert O.
Edmister, University of Mississippi
Abstract
We study the choice available to business borrowers and lenders between fixed rate and variable...
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The Journal of Applied Business Research Volume 19, Number 4 49 Fixed Or Variable Rate Choice In The Commercial Bank Business Loan Market Manoj Athavale, Ball State University Robert O. Edmister, University of Mississippi Abstract We study the choice available to business borrowers and lenders between fixed rate and variable rate bank loans. Unlike previous studies that examine residential mortgage loans, this analysis examines commercial and industrial loans. Business loans differ in attributes from mortgage loans and hence provide an opportunity to test determinants of the mortgage loan choice decision for other loan types. The diversity of business loans also permits tests of any effect which lender size and borrower size may have on the choice decision. Using a continuous index of preferences for the variable rate commercial loan, we find that the determinants of the business loan choice decision are different from the determinants of the mortgage loan choi
Moins
Par mialiravina
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Publiée le 3 Juin 2009
Pages: 10
Lectures: 33
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Journal of Business & Economics Research – May 2008 Volume 6, Number 5
125
Import Response And Inflationary Pressures
In The New Economy: The Quantity
Theory Of Money Revisited
Emmanuel I.
S.
Ajuzie, Lincoln University
Felix M.
Edoho, Lincoln University
Wensheng Kang, University of Missouri
Matthew N.
Uwakonye,...
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Journal of Business & Economics Research – May 2008 Volume 6, Number 5 125 Import Response And Inflationary Pressures In The New Economy: The Quantity Theory Of Money Revisited Emmanuel I. S. Ajuzie, Lincoln University Felix M. Edoho, Lincoln University Wensheng Kang, University of Missouri Matthew N. Uwakonye, Grambling State University Ghebre Y. Keleta, Grambling State University ABSTRACT Contending with the rationale for rate increases to counter inflationary pressures, this study revisits the quantity theory of money and the equation of exchange developed in the sixteenth century by the likes of John Locke, John Law, etc. , and popularized over the years by economists, such as Adam Smith, David Ricardo, and Irvin Fisher to predict the response of some variables, especially imports of goods and services, on the rate of inflation. The vector autoregression (VAR) process was used to estimate the model. Results show that import is significant in its impac
Moins
Par mialiravina
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Publiée le 3 Juin 2009
Pages: 16
Lectures: 44
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