Showing results 1 to 20 of 32
   Using survey data to resolve the exchange risk exposure puzzleMuller, Aline  ; ; in Journal of International Money & Finance (in press) Detailed reference viewed: 20 (4 ULg) The role of segmentation and investor recognition through the lens of cross‐listing activityMouchette, Xavier ; ; Muller, Aline Scientific conference (2013, April 19) Detailed reference viewed: 1 (0 ULg)When does the Market feel it? Magnitude, speed and persistence of market reactions to of cross-listingsMouchette, Xavier ; ; Muller, Aline Scientific conference (2013, April 19) Detailed reference viewed: 4 (0 ULg)When does the Market feel it? Magnitude, speed and persistence of market reactions to of cross-listingsMouchette, Xavier ; ; Muller, Aline E-print/Working paper (2013) Detailed reference viewed: 2 (0 ULg)Coûts d’efficience des dépositaires centraux des titres des pays africainsTeuwa Nkeuwo, Mathieu Hugues ; Muller, Aline E-print/Working paper (2012) This paper examines the potential of economies of scale and scope among the African central securities depository institutions. We address whether the consolidation of settlement and custody activities of ... [more ▼] This paper examines the potential of economies of scale and scope among the African central securities depository institutions. We address whether the consolidation of settlement and custody activities of securities make these institutions efficient in light of the costs of service parameter. To do this, we rely on the translog cost function [introduced by Christensen et al. (1971)] and the constant elasticity of substitution of seven central securities depositories in Africa over the period 2004-2009. The results show the existence of significant economies of scale and scope in these institutions. The extent of these economies differs upon the size of the institution and the level of automation mechanisms to combine securities settlement and custody activities. Our findings also indicate that, unlike large institutions in countries such as South Africa and Mauritius, which have heavily invested in automation mechanisms, smaller institutions have higher service costs, which implies a need for consolidation of activities to reduce these costs. [less ▲] Detailed reference viewed: 13 (2 ULg)Coûts d’efficience des dépositaires centraux des titres des pays africainsTeuwa Nkeuwo, Mathieu Hugues ; Muller, Aline Scientific conference (2012, October 23) Cet article examine le potentiel d’économies d’échelle et de gamme au sein des dépositaires centraux des titres des pays africains. Il permet de vérifier si la consolidation des activités de règlement ... [more ▼] Cet article examine le potentiel d’économies d’échelle et de gamme au sein des dépositaires centraux des titres des pays africains. Il permet de vérifier si la consolidation des activités de règlement-livraison et de conservation de titres rendent ces institutions efficientes au regard du paramètre coûts de service. Pour ce faire, nous estimons la fonction de coût translogarithmique [introduite par Christensen et al. (1971)] et l’élasticité constante de substitution de 7 dépositaires centraux des titres en Afrique sur une période s’étalant de 2004-2009. Les résultats montrent l’existence d’importantes économies d’échelle et de gamme dans ces institutions. Le degré de ces économies diffère selon la taille de l’institution et le niveau d’investissements consentis dans la mise en place de mécanismes d’automatisation permettant de facto de combiner les activités de règlement et de conservation des titres. Contrairement aux grandes institutions de pays tels que l’Afrique du Sud et l’Ile Maurice, lesquels ont beaucoup investi dans la mise en place de mécanismes d’automatisation, les petites institutions présentent des coûts de prestations élevés, ce qui implique une nécessité de consolidation des activités afin de réduire ces coûts. [less ▲] Detailed reference viewed: 11 (0 ULg)The role of segmentation and investor recognition trough the lens of cross-listing activityMouchette, Xavier ; ; Muller, Aline Scientific conference (2012, April 04) Detailed reference viewed: 18 (8 ULg)Dynamic Trading Strategies of Equity Hedge Funds: Empirical evidence on how they adapt to market conditionsLambert, Marie ; Muller, Aline ; Babaei, Hamid E-print/Working paper (2012) Detailed reference viewed: 53 (15 ULg)The role of segmentation and investor recognition trough the lens of cross-listing activityMouchette, Xavier ; ; Muller, Aline E-print/Working paper (2012) Detailed reference viewed: 24 (5 ULg)Sudden crash or long torture: the timing of market reactions to operational loss eventsMuller, Aline ; Conference (2011, December 14) Detailed reference viewed: 24 (4 ULg)Price reactions to equity cross-listings on major financial markets: a reassessment of the role of international financial integration and investor awarenessMouchette, Xavier ; ; Muller, Aline Conference (2011, December) Detailed reference viewed: 14 (6 ULg)Japanese central bank interventions and the dispersion of individual exchange rate expectations: differential impact on four moment characteristicsHeck, Stéphanie ; Muller, Aline in International Journal of Behavioral Finance and Accounting (2011), 2(2), 152-177 Detailed reference viewed: 31 (12 ULg)Cost efficiency in the African securities settlement and depository industryTeuwa Nkeuwo, Mathieu Hugues ; Muller, Aline Conference (2011, May 17) This paper examines the potential of economies of scale and scope among the African central securities depository institutions. We address whether the consolidation of settlement and custody activities of ... [more ▼] This paper examines the potential of economies of scale and scope among the African central securities depository institutions. We address whether the consolidation of settlement and custody activities of securities make these institutions efficient in light of the costs of service parameter. To do this, we rely on the translog cost function [introduced by Christensen et al. (1971)] and the constant elasticity of substitution of seven central securities depositories in Africa over the period 2004-2009. The results show the existence of significant economies of scale and scope in these institutions. The extent of these economies differs upon the size of the institution and the level of automation mechanisms to combine securities settlement and custody activities. Our findings also indicate that, unlike large institutions in countries such as South Africa and Mauritius, which have heavily invested in automation mechanisms, smaller institutions have higher service costs, which implies a need for consolidation of activities to reduce these costs. [less ▲] Detailed reference viewed: 6 (2 ULg)Are Foreign Profitability Disclosures Value-Relevant? Disaggregation Resolves the PuzzleMuller, Aline ; Conference (2010, June 24) Detailed reference viewed: 15 (4 ULg)Misery Loves Company : Beauty Contest Dynamics in Exchange Rate ExpectationsMuller, Aline ; Pancotto, Francesca Conference (2009, December 18) Detailed reference viewed: 55 (10 ULg)Finance et valeur(s): Liber Amicorum et DiscipulorumCorhay, Albert ; Hübner, Georges ; Muller, Aline Book published by Les Editions de l'Université de Liège (2009) Detailed reference viewed: 98 (25 ULg)Dividends and Foreign Performance SignalingMuller, Aline ; Conference (2009, June 29) Detailed reference viewed: 21 (2 ULg)The effect of exchange rate variability on US shareholder wealthMuller, Aline ; in Journal of Banking and Finance (2009), 33(11), 1963-1972 Detailed reference viewed: 44 (9 ULg)Investor Sentiment, Mutual Fund Flows and its Impact on Returns and Volatility; ; et al in Managerial Finance (2008), 34(11), 772-785 Detailed reference viewed: 31 (10 ULg)The Latin American Exchange Rate Exposure of U.S. Multinationals; Muller, Aline in Journal of Multinational Financial Management (2008), 18(2), 112-130 Detailed reference viewed: 15 (3 ULg)
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