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June 2009
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232 Reads
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2 Citations
La Revue des Sciences de Gestion Direction et Gestion
L'objectif de cet article est d’étudier le comportement du portefeuille d’arbitrage qui consiste à prendre simultanément une position acheteur dans le portefeuille perdant et vendeur dans le portefeuille gagnant.
February 2009
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1 Read
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1 Citation
La Revue des Sciences de Gestion Direction et Gestion
L'objectif de cet article est d’étudier le comportement du portefeuille d’arbitrage qui consiste à prendre simultanément une position acheteur dans le portefeuille perdant et vendeur dans le portefeuille gagnant.
December 2008
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188 Reads
The performance measurement of portfolio managers is a topic of major importance in finance. The utility of performance measures rests, indeed, on the hypothesis that funds whose performance is judged good (or bad ) in the past, will continue to display of good (bad) performances in the future. Says otherwise, the persistence of performances would allow rational investors to choose to invest in the best funds. It remains, nevertheless, to define a measure of performance that makes sense and numerous measures have been proposed in an abundant literature. We begin, so, this paper by bringing back expressions and interpretations of the traditional measures of performance to know those of Treynor [1965], Sharpe [1966] and Jensen [1968]. We will show that these are in mound to numerous critiques. They have, besides, the disadvantage to valorize the specific risk of a portfolio like its systematic risk. This remark led to several corrections of the classic measures of performance and made be born of news measures that take account of this failing to know those of Fama [1972], Moses, Cheney and Veit [1987] and finally the measure of Modigliani-Modigliani [1997]. However, these measures present the handicap to be based on the capital asset pricing model (CAPM).
June 2006
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2,244 Reads
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1 Citation
Abstract: The decision theory under risk or uncertainty has for object to describe the behavior of agents facing several uncertainty perspectives, waited that every agent is characterized by preferences that are him clean. As it is difficult to describe these preferences exhaustively, we try to represent them: thus, while associating a numeric value to each uncertain perspective, we can order an agent's preferences as merely that one orders some real numbers. The recourse to a representative function of preferences (called as function value) constitutes a long time since the usual method of behavior description in uncertainty. The interest obvious of this method is to permit to integrate these data directly in a formalized model and, by extension, to understand the underlying optimization process to all decision. The determination of the representative function of preferences must rest on an axiomatic foundation. One hears by there that a certain number of rules or general behaviors (called axioms) are reputed common to all human beings. Of these axioms one will drift a precise specification of the function value. The objective of this paper is to examine the historic of theories having looked for to determine a satisfactory criteria to answer to the problem of decision under risk or uncertainty and to analyze the approach of these models.
... Further, literature related to financial intermediation and bank performances utilize many country-specific macro-level external indicators, and some very important ones are identified as GDP, inflation rate, and Interest rate, which are also included in this study. In many studies, such control variables are involved in research design as independent variables for both IBNKs and CBNKs (Sorwar et al. 2016;Trabelsi & Trad 2017). It is a well-discussed fact that economic growth is anticipated to have a positive effect on both types of banking systems, i.e., Islamic and Conventional. ...
October 2017
International Journal of Islamic and Middle Eastern Finance and Management
... ROE is used to measure the return on stockholders investments in the bank. Therefore, the values of this variable depends on the bank's equity multiplier and the amount of debt used to finance assets This variable is used as another measure for bank profitability following (Islam & Nishiyama, 2016;Ahamed, 2017;Bouzgarrou, Jouida & Louhichi , 2018;Bucevska &Misheva, 2017 andTrad, Trabelsi &Goux , 2017). ...
January 2017
European Research on Management and Business Economics
... Trade openness comprises the total sum of import and export of services and goods as a % of GDP). Several studies have used this indicator of trade openness, like (Akmal et al., 2007;Pradhan & Mahesh, 2014;Trabelsi & Liouane, 2013). Studies like Deyshappria (2018) and Qadir and Majeed (2018) assessed the effect of trade liberalization on social development. ...
April 2013
International Journal of Economics and Financial Issues
... In sum, size and liquidity criteria are not sufficient conditions to display a martingale process. These results are consistent with markets where stock prices are not instantaneously adjusted to the influx of new information and often subject to pricing inefficiencies (Trabelsi, 2009). It is plausible that the outcome of return predictability is empirically validated overwhelmingly. ...
June 2009
La Revue des Sciences de Gestion Direction et Gestion
... To proxy for board independence, we borrow from Liang, Clive, and Radford (2013), Rose (2017), Vasilakopoulos, Tzovas, and Ballas (2018) and Harkin, Mare, and Crook (2020) and use the proportion of independent directors on the board (INDEP). We proxy for the CEO-chairperson role duality, by following Rachdi, Trabelsi, and Trade (2013), Battaglia and Gallo (2015), Mutarindwaa, Schäfer, and Stephan (2020) and Abid et al. (2021) and use a dummy variable taking the value of 1 in case of role duality, zero otherwise (DUAL). To detect the impact of board gender diversity on bank stability, we adopt, as in Dong, Girardone, and Kuo (2017), Ben Moussa (2019), Ibáñez-Hernández et al. (2019) and Lee, Wang, and Zhang (2023), the percentage of female board members on the board (WOM). ...
December 2013
Review of Economic Perspectives
... This method constructs a synthetic Tunisia and Libya by optimal weighing of countries in the donor pool which are countries that were not influenced by the Arab uprising, such that the dependent and explanatory variables of Tunisia and Libya and its equivalent synthetic are as close as possible for the pre-Arab Spring Jha and Kirsanli, 2023). In contrast to Ali's (2014) study, which explored the impact of political transitions on democracy, corruption, and growth within Arab Spring countries, after only two years from the Arab Spring, through qualitative insights, this paper employs a quantitative methodology, particularly the SCM, enhancing the analysis with depth and precision. This rigorous approach not only contributes valuable insights to academic discourse but also holds significance for policymaking. ...
January 2013
Transition Studies Review
... on the other hand, researches conducted in smaller capitalization and less developed markets, such as Istanbul (Bildik, Gulay, 2007), New Zealand (Chin, 2002), Tunisia (Trabelsi, 2010) and Canada (Assoea, Sy, 2003) do not provide positive results when testing the contrarian investment strategy. ...
May 2010
The Journal of Risk Finance
... The emergence of Islamic financial institutions can be traced in the early 1960s in Egypt (Tabash, 2018). The Islamic banking system came into prominence following the global financial crisis of 2008 (Trabelsi, 2011;Fakhfekh et al., 2016). Islamic banks (IB) fared better during the crisis as they operate differently than their conventional counterparts (Olson and Zoubi, 2011). ...
January 2011
The Journal of Risk Finance
