L’objectif de notre travail de recherche est d’examiner empiriquement la relation entre les attr... more L’objectif de notre travail de recherche est d’examiner empiriquement la relation entre les attributs du PDG et du conseil d’administration sur la performance financière .En se basant sur un échantillon d’entreprises françaises appartenant à l’indice « CAC40 » observées sur une période allant de 2010 à 2014 .Nous avons testé l’effet des attributs du PDG sur la performance financière des entreprises nous avons trouvé que l’âge et la nationalité du PDG ont des effets négatifs et significatifs sur le ratio ROA. Pour les variables relatives aux mécanismes de gouvernance internes nous trouvons, que seule la taille du conseil d’administration est significativement associée avec la performance financière des entreprisesConcept clé : Performance financière, Attributs du PDG/PCA, Mécanismes internes de gouvernance, CAC40
Purpose The purpose of this paper is to examine the effect of bank capital on liquidity creation.... more Purpose The purpose of this paper is to examine the effect of bank capital on liquidity creation. Especially, the authors test two competing hypotheses: the “risk absorption” hypothesis and the “financial fragility-crowding out” hypothesis that describe such association in the context of UK and French banking industry. Design/methodology/approach The authors use data collected from Bankscope for commercial banks pertaining to the aforementioned countries. The sample period ranges from 2000 to 2014. Liquidity creation was measured using a novel approach proposed by Berger and Bouwman (2007). This study uses the quantile regression (QR) and the instrumental variables QR, along with classical ordinary least squares (OLS) and panel regression, to deal with the mixed results reported by previous papers. Findings Using OLS and panel regression, the authors first find that bank capital negatively affects liquidity creation which supports risk absorption hypothesis. Second, the result from QR confirms the negative association between the aforementioned variables and shows that the effect is homogenous across quantiles of liquidity creation distribution. The result remains unchanged when using the QR with instrumental variables to address the potential problem of endogeneity. Originality/value This paper sheds more lights on the relationship between bank capital and liquidity creation by using a novel estimation approach based on the QR methodology.
PurposeThe authors examine the effect of climate risk on accounting conservatism for a sample of ... more PurposeThe authors examine the effect of climate risk on accounting conservatism for a sample of listed companies operating in 26 developing countries.Design/methodology/approachThe authors employ the Climate Risk Index (CRI) developed by Germanwatch to capture the severity of losses due to extreme weather events at the country level. The authors use different approaches to measure firm-level accounting conservatism.FindingsThe authors find that greater climate risk leads to a lower level of accounting conservatism. The results hold even after using different estimation methods.Research limitations/implicationsAlthough the authors' analysis is limited to the period 2007–2016, it could be helpful for standard setters such as International Accounting Standards Board (IASB) and International Sustainable Standards Board (ISSB) as they may consider the potential effect of climate risk in their international standards.Practical implicationsThe negative impacts of climate risk on the q...
L'objectif de notre travail de recherche est d'examiner empiriquement la relation entre l... more L'objectif de notre travail de recherche est d'examiner empiriquement la relation entre les attributs <br> du président directeur général (PDG) et du conseil d'administration (PCA) sur la performance <br> financière. En se basant sur un échantillon d'entreprises françaises appartenant à l'indice « CAC40 » <br> observées sur une période allant de 2010 à 2014 et en utilisant la technique des données de panel, <br> nous avons trouvé que l'âge et la nationalité du PDG ont des effets négatifs et significatifs sur le <br> ratio ROA. Cependant, nous n'avons trouvé aucun lien entre les attributs du PCA et la performance <br> financière. Pour les variables relatives aux mécanismes de gouvernance internes nous trouvons, que <br> seule la taille du conseil d'administration est significativement associée avec la performance <br> financière des entreprises.
Purpose The purpose of this paper is to examine the effect of bank capital on liquidity creation.... more Purpose The purpose of this paper is to examine the effect of bank capital on liquidity creation. Especially, the authors test two competing hypotheses: the “risk absorption” hypothesis and the “financial fragility-crowding out” hypothesis that describe such association in the context of UK and French banking industry. Design/methodology/approach The authors use data collected from Bankscope for commercial banks pertaining to the aforementioned countries. The sample period ranges from 2000 to 2014. Liquidity creation was measured using a novel approach proposed by Berger and Bouwman (2007). This study uses the quantile regression (QR) and the instrumental variables QR, along with classical ordinary least squares (OLS) and panel regression, to deal with the mixed results reported by previous papers. Findings Using OLS and panel regression, the authors first find that bank capital negatively affects liquidity creation which supports risk absorption hypothesis. Second, the result from ...
L’objectif de notre travail de recherche est d’examiner empiriquement la relation entre les attr... more L’objectif de notre travail de recherche est d’examiner empiriquement la relation entre les attributs du PDG et du conseil d’administration sur la performance financière .En se basant sur un échantillon d’entreprises françaises appartenant à l’indice « CAC40 » observées sur une période allant de 2010 à 2014 .Nous avons testé l’effet des attributs du PDG sur la performance financière des entreprises nous avons trouvé que l’âge et la nationalité du PDG ont des effets négatifs et significatifs sur le ratio ROA. Pour les variables relatives aux mécanismes de gouvernance internes nous trouvons, que seule la taille du conseil d’administration est significativement associée avec la performance financière des entreprisesConcept clé : Performance financière, Attributs du PDG/PCA, Mécanismes internes de gouvernance, CAC40
Purpose The purpose of this paper is to examine the effect of bank capital on liquidity creation.... more Purpose The purpose of this paper is to examine the effect of bank capital on liquidity creation. Especially, the authors test two competing hypotheses: the “risk absorption” hypothesis and the “financial fragility-crowding out” hypothesis that describe such association in the context of UK and French banking industry. Design/methodology/approach The authors use data collected from Bankscope for commercial banks pertaining to the aforementioned countries. The sample period ranges from 2000 to 2014. Liquidity creation was measured using a novel approach proposed by Berger and Bouwman (2007). This study uses the quantile regression (QR) and the instrumental variables QR, along with classical ordinary least squares (OLS) and panel regression, to deal with the mixed results reported by previous papers. Findings Using OLS and panel regression, the authors first find that bank capital negatively affects liquidity creation which supports risk absorption hypothesis. Second, the result from QR confirms the negative association between the aforementioned variables and shows that the effect is homogenous across quantiles of liquidity creation distribution. The result remains unchanged when using the QR with instrumental variables to address the potential problem of endogeneity. Originality/value This paper sheds more lights on the relationship between bank capital and liquidity creation by using a novel estimation approach based on the QR methodology.
PurposeThe authors examine the effect of climate risk on accounting conservatism for a sample of ... more PurposeThe authors examine the effect of climate risk on accounting conservatism for a sample of listed companies operating in 26 developing countries.Design/methodology/approachThe authors employ the Climate Risk Index (CRI) developed by Germanwatch to capture the severity of losses due to extreme weather events at the country level. The authors use different approaches to measure firm-level accounting conservatism.FindingsThe authors find that greater climate risk leads to a lower level of accounting conservatism. The results hold even after using different estimation methods.Research limitations/implicationsAlthough the authors' analysis is limited to the period 2007–2016, it could be helpful for standard setters such as International Accounting Standards Board (IASB) and International Sustainable Standards Board (ISSB) as they may consider the potential effect of climate risk in their international standards.Practical implicationsThe negative impacts of climate risk on the q...
L'objectif de notre travail de recherche est d'examiner empiriquement la relation entre l... more L'objectif de notre travail de recherche est d'examiner empiriquement la relation entre les attributs <br> du président directeur général (PDG) et du conseil d'administration (PCA) sur la performance <br> financière. En se basant sur un échantillon d'entreprises françaises appartenant à l'indice « CAC40 » <br> observées sur une période allant de 2010 à 2014 et en utilisant la technique des données de panel, <br> nous avons trouvé que l'âge et la nationalité du PDG ont des effets négatifs et significatifs sur le <br> ratio ROA. Cependant, nous n'avons trouvé aucun lien entre les attributs du PCA et la performance <br> financière. Pour les variables relatives aux mécanismes de gouvernance internes nous trouvons, que <br> seule la taille du conseil d'administration est significativement associée avec la performance <br> financière des entreprises.
Purpose The purpose of this paper is to examine the effect of bank capital on liquidity creation.... more Purpose The purpose of this paper is to examine the effect of bank capital on liquidity creation. Especially, the authors test two competing hypotheses: the “risk absorption” hypothesis and the “financial fragility-crowding out” hypothesis that describe such association in the context of UK and French banking industry. Design/methodology/approach The authors use data collected from Bankscope for commercial banks pertaining to the aforementioned countries. The sample period ranges from 2000 to 2014. Liquidity creation was measured using a novel approach proposed by Berger and Bouwman (2007). This study uses the quantile regression (QR) and the instrumental variables QR, along with classical ordinary least squares (OLS) and panel regression, to deal with the mixed results reported by previous papers. Findings Using OLS and panel regression, the authors first find that bank capital negatively affects liquidity creation which supports risk absorption hypothesis. Second, the result from ...
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Papers by Haykel Zouaoui