The Asset-Light strategy implementation in the Hospitality Industry. / Marie BOILEAU / 2022

Titre : The Asset-Light strategy implementation in the Hospitality Industry. Type de document : Mémoire Auteurs : Marie BOILEAU, Auteur Année de publication : 2022 Importance : 36 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 ACTIF ; FRANCHISE ; PERFORMANCE ; RENTABILITE Résumé : This dissertation is based on the observation that most large hospitality groups are moving into asset?light mode. The model has even recently seduced the European leader in the hotel industry: Accor, which had been operating in "asset-heavy" mode for years. The idea of this thesis is to study the advantages and disadvantages of this strategy and answer the question "To what extent can switching to the asset light model benefit the hospitality industry companies?” by studying Accor's results following their change in strategy. As a listed company their results are publicly available, my study is therefore based on their results published before 2019 (COVID 19 crisis) and their strategic reports. Results from the study of Accor’s financial reports and strategy documents appear to confirm that the move to asset-light mode is not a simple trend. Indeed, the strategy offers several considerable advantages: rapid development prospects, an opportunity to refocus on one's core business and develop competitive advantages, as well as greater flexibility and a reduction in risk. However, not enough studies have been conducted on the long-term results of the strategy (especially on the profitability of the company), some of the disadvantages of the strategy could reveal their long-term negative effects Programme : PGE-Reims Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=570893

What is the impact of the private equity funds in the infrastructure investments / Léo ALVAREZ / 2022

Titre : What is the impact of the private equity funds in the infrastructure investments Type de document : Mémoire Auteurs : Léo ALVAREZ, Auteur Année de publication : 2022 Importance : 40 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 INVESTISSEMENT ; ACTIF ; PROJET Résumé : The objective of this dissertation was to assess the potential impacts that investment funds could have on the unlisted infrastructure market. Historically, infrastructure equity has been the preserve of the public sector and governments. As infrastructure was of strategic interest, the markets were owned by governments and managed by them for profit. However, after a first wave of privatization, and the liberalization of sectors such as energy, the private sector has moved into the sector. Following these changes, funds chose, a few decades later, in the 1990s, to also join the sector. Because of the recent arrival of investment funds in the sector, it has been very difficult to accurately assess and quantify the impact of their activities. While this subject has been little addressed in the literature over the past decades, there is no doubt that in the future, many articles will be devoted to it, as the issues of energy transition and infrastructure renewal are crucial. Thanks to research conducted with infrastructure professionals, we have been able to analyze the perception of investment funds and their impact on the market. Whether they are appreciated or not, investment funds have had and still have an undeniable impact on the sector. They act, develop, and strengthen the sector through their capital contribution. While some decry their role, it will be interesting to continue to assess their impact in the decades to come, once hindsight is possible. Programme : PGE-Reims Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=571583

ESG dimension in asset allocation optimization process / Romain LAMIRAND / 2021

Titre : ESG dimension in asset allocation optimization process Type de document : Mémoire Auteurs : Romain LAMIRAND, Auteur Année de publication : 2021 Importance : 42 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 OPTIMISATION ; ACTIF Entreprise 3G CAPITAL MANAGEMENT Résumé : The purpose of this article is first to demonstrate that including quantitatively ESG rating in optimization portfolio processes do not highly affect performances. Then, we demonstrate that considering ESG rating evolutions highly improve ESG equity selection. To do this, we will first consider the ESG analysis and rating methodologies. Indeed, rating agencies uses many methodologies and different results are released. The focus on this aims to certify the quality of data that will be inputted in the model. Then, a short state of art about portfolio optimization processes will be a prominent tool to input ESG rating. Classic Markowitz portfolio analysis is used in this article adding ESG as a constraint. The first development part will develop better conditions of use to the model in S&P 500 returns from end of 2016 to end of 2020. Finally, using results from the first part, we will show that the better process to optimize ESG rating of portfolios without affecting too many performances of the portfolio is the selection of stocks using ESG rating evolution and not only pure ESG rates. Programme : MSc Finance & Big Data Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=538849

ASSET ALLOCATION AND STRUCTURED PRODUCTS / Jade MULLER / 2020

Titre : ASSET ALLOCATION AND STRUCTURED PRODUCTS : Structured products versus derivatives in a volatile environment Type de document : Mémoire Auteurs : Jade MULLER, Auteur Année de publication : 2020 Importance : 26 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 ACTIF ; ENVIRONNEMENT ECONOMIQUE ; FINANCE D'ENTREPRISE Résumé : Structured products were first created for investors unsatisfied by classical assets and searching for new ways of investing through diversification. In nowadays financial markets, uncertainty weighs in every investing decision. Factors such as strong volatility on stocks during certain periods makes it difficult for investors to get to tailor-made solutions and increase their capital while managing the risks brought by their seek for performance. Thanks to their dual structure - which we will explain later in the definition of the first axis - structured products offer solutions which can easily be adapted to uncertain periods we face on markets such as the current sanitary crisis with the Covid-19. Highly adjustable to any deal horizon, risk or underlying asset, structured products can be personalized according to any investor needs and the economic context. For instance, in the low rate environment – see Appendixes A and B - in which we are evolving today, dealing with structured products may be interesting from the investor point of view who seeks for bond investments and also wants to get high returns. Indeed, investing in low risks products such as T-bonds is less attractive than other assets like derivative products which have what we call a high leverage effect and can bring some performance but that are also a lot riskier. Therefore, one might think that having a mix of these two could, on one hand, manage the risks of the position, and on another hand bring some level of performance. This would in fact, make structured products an interesting investment alternative for this type of investors. The main objective of this Seminar Paper will be to bring all the elements needed to demonstrate how structured products are an interesting choice for investors willing to invest in derivatives to secure their capital and seek higher levels of performance in uncertain markets than with a simple derivative instrument such as futures or vanilla options. We raise the question: “How do structured products prove to be an alternative way of investing in derivatives in an uncertain market?” We will first read what structured products are in general, how they are constructed and work, what makes them attractive or not. We will then deepen our reflexion on that topic by asking ourselves to whom they might be interesting and why, what kind of products could be relevant according to which type of investor. We will get through this with some relevant examples of investments proposed by renown banks. Finally, we will go further and explain how exactly, structured products offer an interesting alliance between performance and capital protection in a volatile environment. Programme : PGE-Rouen Spécialisation : Finance d’Entreprise - Corporate Finance Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=531055

How do the new strategies of power companies affect their asset allocation / Arthur BRILHAULT / 2020

Titre : How do the new strategies of power companies affect their asset allocation Type de document : Mémoire Auteurs : Arthur BRILHAULT, Auteur Année de publication : 2020 Importance : 34 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 STRATEGIE ; GRANDE ENTREPRISE ; ACTIF ; FINANCE D'ENTREPRISE Résumé : The growth strategy of a power company is shaped around three pillars which compose the structure of this paper. Indeed, the expansion, the enhancement and the extension of the business represent the possible growth paths, but the traditional ways to embrace them are becoming old fashioned and Utilities rethink their strategy to keep on being the leaders. By establishing new strategies, power companies modify their investments decisions and asset allocation. The result of this study shows that the asset allocation is becoming much more complex for Utilities as the industry is being disrupted by its actors (competitors, customers, regulators…). The current traditional Utility allocates its assets to power generation. It is an integrated (meaning active on the whole Utility value chain) and asset-based company with a unique source of revenue, which is the delivering of power to its customer. However, the utility of tomorrow develops other business lines and revenue streams, reshape its traditional power generation and its market becomes customer-driven. Finally, all the growth options cannot be embraced by power companies and this will cause a split among them. Utilities have always been valued on standards like the power generation potential and the customer base. Now the degree of strategic repositioning will lead to a separation between the most innovative players and the slow movers as investors will value them on new criteria like the technological integration. Programme : PGE-Rouen Spécialisation : Finance d’Entreprise - Corporate Finance Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=531073

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The FAMA-FRENCH Model applied to S&P 500 / Adrien LEFEBVRE / 2019

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Study of the correlation of commodity futures returns with other asset classes / Baptiste PERREARD / 2016

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Comptabilité financière : approche IFRS et approche française / Jean-Yves EGLEM / Paris : GUALINO EDITEUR (2015)

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Ingénierie financière, fiscale et juridique 2015/2016 / Philippe RAIMBOURG / Paris : DALLOZ (2015)

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CFA Level III Exam prep Schweser 2015 / Book 2 / SCHWESER / KAPLAN (2014)

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Comptabilité financière / Jacques RICHARD / PARIS : DUNOD (2014)

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L'essentiel de la finance à l'usage des managers / Pierre CABANE / EYROLLES (2014)

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Evaluation financière de la marque / Luc PAUGAM / PARIS : ECONOMICA (2014)

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Principes de Microéconomie / Etienne WASMER / Harlow : PEARSON (2014)

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