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The Relationship Between Corporate Governance and Cash Holdings in the Chinese Stock Markets / Jingwen TANG / 2022
Titre : The Relationship Between Corporate Governance and Cash Holdings in the Chinese Stock Markets Type de document : Mémoire Auteurs : Jingwen TANG, Auteur Année de publication : 2022 Importance : 24 p. Note générale : Pour accéder aux fichiers PDF, merci de vous identifier sur le catalogue avec cotre compte Office 365 via le bouton CONNEXION en haut de la page. Langues : Anglais (eng) Mots-clés : Management
BOURSE DES VALEURS ; CHINE ; GOUVERNANCE DE L'ENTREPRISE ; LIQUIDITE ; RELATIONRésumé : Managing cash reserve levels has been a tricky question for firms to trying to find a trade-off between benefits and costs that works the best for their favors. Having more cash available means that the firms are open to more future growth and investment opportunities, capital expenditure and R&D,and to deal with seasonal or cyclical volatility of cash flows. The importance of corporate governance has on the value creation and long-term management of the firm has seized more and more attention.Current studies have shown that corporate governance has played an important role in determining the ,level of cash holdings those corporates have. Dittmar & Mahrt-Smith (2007) and Harford et al., (2012)
both show that firms with weaker corporate governance tend to have higher levels of cash holdings in 45 countries. However, those studies did not dig deep enough to capture the cross-sectional variation on the firm-level corporate governance and its relationships with cash holdings. Therefore, this unanswered question lays the foundation of the hypothesis, in which it examines on the firm-level basis if various attributes of corporate governance have any kinds of relationship with levels of cash holdings. To extend this hypothesis a bit further, this paper also examines if this implied nature of corporate governance andlevel of cash holdings combined together have a material effect on the value of firm especially in Chinese stock markets. Most of the studies on corporate governance focus on western stock markets.Chinese stock markets are much less discussed.After comprehensive study of Chinese listed companies’ cash levels and its attributes of corporate governance, I found that firms with weaker corporate governance, i.e. CEO-Chairman duality,large board size, small proportion of independent directors in audit committee and whether thecompany is family controlled, tend to develop a more conservative corporate cash policy meaning that they have more cash reserves. Shareholders tend to react negatively to excess cash holdings due to thepossibility of managerial entrenchment.Programme : MSc Corporate Finance Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=568530 The impact of decentralized crypto-derivatives and synthetic assets on traditional centralized derivatives exchanges / Thibault GAUBERT / 2021
Titre : The impact of decentralized crypto-derivatives and synthetic assets on traditional centralized derivatives exchanges Type de document : Mémoire Auteurs : Thibault GAUBERT, Auteur Année de publication : 2021 Importance : 24 p. Note générale : Pour accéder aux fichiers PDF, merci de vous identifier sur le catalogue avec votre compte Office 365 via le bouton CONNEXION en haut de page. Langues : Anglais (eng) Mots-clés : Management
RISQUE ; SPECULATION ; LIQUIDITERésumé : With the growing importance of blockchain technology and cryptocurrencies, the financial industry has started to shift towards decentralized finance (DeFi). The recent introduction of Bitcoin Futures on the Chicago Mercantile Exchange have opened-up a Pandora’s box allowing the creation of new financial instruments, taking traditional financial concepts, and putting them directly on the blockchain. Among these instruments we find crypto derivatives and synthetic assets.
This paper intends to examine this new DeFi derivatives phenomenon and further discuss the impact it has on traditional derivatives markets. Using the recent literature reviews at our disposal, we are posing the pros and cons and the advantages they have. We present the way they reshape the overall financial world.
We find that synthetic assets and crypto-derivatives help the DeFi world to chain real-world assets in a way that is credible and trustworthy; increase the accessibility, the transparency, the flexibility and the efficiency of financial structure; provide hyper customize portfolio with an infinite number of new assets combination to hedge, have exposure and get some extra leverage resulting in better risk management strategies; and reduce counterparty risk thanks to smart contract protocols, thus augmenting the distribution of systemic risk.Programme : PGE-Rouen Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=538515 The impact of negative interest rates on corporate debt / Loubna LAMLI / 2020
Titre : The impact of negative interest rates on corporate debt : The case of European firms Type de document : Mémoire Auteurs : Loubna LAMLI, Auteur Année de publication : 2020 Importance : 27 p. Note générale : Pour accéder aux fichiers PDF, merci de vous identifier sur le catalogue avec votre compte Office 365 via le bouton CONNEXION en haut de page. Langues : Anglais (eng) Mots-clés : Management
TAUX D'INTERET ; INVESTISSEMENT ; CAPITAL ; LIQUIDITERésumé : This paper examines the impact of negative interest rates on corporate debt. This is a much less studied topic in the field related to the negative interest rate policy as all studies are primarily done on banks profitability and risk taking. The goal of this paper is to show how negative rates make non- financial European firms increase their long term investment but also their cash holdings and short term assets. The related literature suggests that leverage influence these results as there is a negative relation between debt and investment but also between leverage and cash holdings. Moreover the negative rate environment increased the use of senior bonds and notes. The method I chose is an empirical study by data visualization as it is the most suited for evaluating the consequences of the negative interest rate policy as seen in the balance sheet. The study will be made on a sample of twenty non-financial European companies chosen from EURO STOXX 50. Programme : PGE-Rouen Spécialisation : Finance d’Entreprise - Corporate Finance Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=531046 Accrual accounting versus cash accounting: evidence from country-level analysis / Elodie GIRARD / 2018
Titre : Accrual accounting versus cash accounting: evidence from country-level analysis Type de document : Mémoire Auteurs : Elodie GIRARD, Auteur Année de publication : 2018 Importance : 24 p. Note générale : Pour accéder aux fichiers PDF, merci de vous identifier sur le catalogue avec votre compte Office 365 via le bouton CONNEXION en haut de page. Langues : Anglais (eng) Mots-clés : Management
COMPTABILITE ; LIQUIDITE ; NATIONRésumé : The recent transition from cash accounting towards accrual accounting in most of the developed countries in Europe and North America has raised an important question about the reasons for choosing a method or another. Therefore, the research question of this paper is the following: is there any existing indicator which is a deciding factor in the choice of the accounting method? With a sample of 25 countries in Europe and North America, the analysis of 15 indicators has been made through the utilization of scatter plots and correlation coefficient. The investigation has unfortunately not lead to real conclusive results. However, an assumption can be made on the fact that current balance account, which represents the country’s international transactions with the other countries of the world, could play a role in the determination of the accounting method.
Furthermore, in order to deepen this assumption and intensify the investigation made in this paper, a larger sample could be used with other countries less similar to the ones used in the sample of this study. A sample with less developed countries, such as the BRIC or South America countries, could be useful to determine the factors playing a role in the decision of the accounting method. However, the data collection could be a problem in the expansion of this investigation to other countries.Note de contenu : Bibliogr. p.23-24 Programme : PGE-Reims Spécialisation : Finance d’Entreprise - Corporate Finance Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=484787 L'essentiel du private equity et des LBO / Christophe BOUTEILLER / Paris : GUALINO EDITEUR (2018)
Titre : L'essentiel du private equity et des LBO Type de document : Livre Auteurs : Christophe BOUTEILLER, Auteur Neoma ; Catherine KARYOTIS, Auteur Neoma Mention d'édition : 4e éd. Editeur : Paris : GUALINO EDITEUR Année de publication : 2018 Collection : les carrés Importance : 136 p. ISBN/ISSN/EAN : 978-2-297-06491-0 Prix : 16 EUR Langues : Français (fre) Mots-clés : Management
CAPITAL INVESTISSEMENT ; CAPITAL RISQUE ; FINANCEMENT ; INTRODUCTION EN BOURSE ; LIQUIDITEIndex. décimale : 131.83 CAPITAL INVESTISSEMENT Résumé : Historique, acteurs et fonctionnement du capital-investissement. Mesures de performance. Définition du venture capital. Pratique du capital-risque. Principe général des LBO et effets de levier. Montage financier d'un LBO. Technique du SBO, securitization by out. L'après LBO. Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=308690 Exemplaires (1)
Code-barres Cote Support Localisation Section Disponibilité J4699 131.83 BOU Livre Library Campus de Rouen Salle de lecture Disponible La gestion des larges excédents de trésorerie / Shaïna LORIDON / 2018PermalinkL’avenir de crédit default swap sur le marché financier chinois / Hequn YANG / 2017PermalinkL’impact du risque de liquidités sur les banques / Henri PALAYRET / 2017PermalinkETFs performance and popularity / Soukaina OUBLAL / 2016PermalinkPermalinkAnalyse financière / Béatrice GRANDGUILLOT / Paris : GUALINO EDITEUR (2015)PermalinkCash management / Jérôme CAVALIERO / PARIS : LA REVUE BANQUE (2015)PermalinkL'essentiel du private equity et des LBO / Christophe BOUTEILLER / Paris : GUALINO EDITEUR (2015)PermalinkBank Management and Control / Johannes WERNZ / New York, NY : SPRINGER (2013)PermalinkMarket Liquidity: Theory, Evidence, and Policy / Thierry FOUCAULT / OUP USA (2013)Permalink
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