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See detailCeci n’est pas un conseil !
Choffray, Jean-Marie ULg

E-print/Working paper (2014)

La « Grande Récession de 2008 » a un mérite. Un seul ! Elle a rendu public le fait que personne ne savait exactement ce qui s’était passé, ni ce qui se passait. Pourquoi une telle crise de confiance avait ... [more ▼]

La « Grande Récession de 2008 » a un mérite. Un seul ! Elle a rendu public le fait que personne ne savait exactement ce qui s’était passé, ni ce qui se passait. Pourquoi une telle crise de confiance avait-elle vu le jour ? Quelles en seraient les conséquences ? Toutes et tous se sont trompés, y compris les meilleurs. Même celles et ceux qui étaient convaincus d’avoir raison ! Plus que jamais, l’incertitude, la saine et souveraine incertitude, garantit la liberté de l’investisseur... et du professeur ! [less ▲]

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See detailExamining the Effect of Earnings Management on Bid-Ask Spread and Market Liquidity
Sougné, Danielle ULg; Ajina, Aymen

E-print/Working paper (2014)

The main purpose of this paper is to argue the extent that earnings management lowers liquidity. It should increase information asymmetry and impair trading liquidity. Using a sample of French firms from ... [more ▼]

The main purpose of this paper is to argue the extent that earnings management lowers liquidity. It should increase information asymmetry and impair trading liquidity. Using a sample of French firms from 2008 to 2011, we find that firms that manage earnings have wider bid-ask spreads. Our results are robust for both of two well established measures of market liquidity. Therefore the empirical results indicate that firms that exhibit greater earnings management are associated with lower market liquidity. These findings are in line with adverse selection and shed light on the role corporate governance devices can play in the consideration of shareholder interest’s protection, which leads to improved stock market liquidity levels. [less ▲]

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See detailProposition de révisions de l'arrêté n° 018/MEF/SG/DGF/DFCOM du 31 janvier 2013 fixant les procédures d'attribution et de gestion des forêts communautaires
Moumbogou, Carl; Boldrini, Sylvie; Morin, Amélie et al

E-print/Working paper (2014)

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See detailPeriodicity of the algebras O_n and O_{p,q}
Kreusch, Marie ULg

E-print/Working paper (2014)

We study a series of complex (resp. real) non-associative algebras O_n (resp. O_{p,q}) characterized by a cubic form over the field Z_2. Continuing the work of classification, we establish a periodicity ... [more ▼]

We study a series of complex (resp. real) non-associative algebras O_n (resp. O_{p,q}) characterized by a cubic form over the field Z_2. Continuing the work of classification, we establish a periodicity for the algebras O_n and O_{p,q} similar to that of the Clifford algebras Cl_n and Cl_{p,q} excluded the exceptional algebras O_{n,0} and O_{0,n}. [less ▲]

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See detailGlobal power grids for harnessing world renewable energy
Chatzivasileiadis, Spyros; Ernst, Damien ULg; Andersson, Göran

E-print/Working paper (2014)

The Global Grid advocates the connection of all regional power systems into one electricity transmission system spanning the whole globe. Power systems are currently forming larger and larger ... [more ▼]

The Global Grid advocates the connection of all regional power systems into one electricity transmission system spanning the whole globe. Power systems are currently forming larger and larger interconnections. Environmental awareness and increased electricity consumption leads more investments towards renewable energy sources, abundant in remote locations (off-shore or in deserts). The Global Grid will facilitate the transmission of this “green” electricity to load centers, serving as backbone. This chapter elaborates on the concept presenting four stages that could gradually lead to the development of a globally interconnected power network. Quantitative analyses are carried out for all stages, demonstrating that a Global Grid is both technically feasible and economically competitive. Real price data from Europe and the USA are used to identify the potential of intercontinental electricity trade, showing that substantial profits can be generated through such interconnections. [less ▲]

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See detailLettre d'Information N° 12 projet Dacefi
Meunier, Quentin; Mezui Mba, C.; Boldrini, Sylvie et al

E-print/Working paper (2014)

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See detailExperimental Study and Statistical Modeling of an Injection Scroll Compressor Operating with R407c.
Quoilin, Sylvain ULg

E-print/Working paper (2014)

This working paper describes an experimental study carried out on a refrigeration scroll compressor with and without vapour injection. The test rig designed for that purposed allows evaluating the ... [more ▼]

This working paper describes an experimental study carried out on a refrigeration scroll compressor with and without vapour injection. The test rig designed for that purposed allows evaluating the performance over a wide range of operating conditions, by varying the supply pressure, the injection pressure, the exhaust pressure, the supply superheating and the injection superheating. 97 Steady-state points are measured, with a maximum isentropic efficiency of 64.1% and a maximum consumed electrical power of 13.1 kW. A critical analysis of the experimental results is then carried out to evaluate the quality of the data using a machine learning method. This method based on Gaussian Processes regression, is used to build a statistical operating map of the compressor as a function of the different inputs. This statistical operating map can then be compared to the experimental data points to evaluate their accuracy. [less ▲]

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See detailIntentionality as Disposition
Boccaccini, Federico ULg

E-print/Working paper (2014)

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See detailLa psychologie morale de Brentano
Boccaccini, Federico ULg

E-print/Working paper (2014)

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Peer Reviewed
See detailEvent-driven integration of linear structural dynamics models under unilateral elastic constraints
Depouhon, Alexandre ULg; Detournay, Emmanuel; Denoël, Vincent ULg

E-print/Working paper (2014)

Detailed reference viewed: 27 (12 ULg)
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See detailThe role of segmentation and investor recognition trough the lens of cross-listing activity
Mouchette, Xavier ULg; Carrieri, Francesca; Muller, Aline ULg

E-print/Working paper (2014)

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See detailAn assessment of cross-listed firms’ diversification potential
Mouchette, Xavier ULg; Muller, Aline ULg

E-print/Working paper (2014)

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Peer Reviewed
See detailTowards robust GWAS/GWAI protocol development for epistasis detection in context of real-life datasets
Bessonov, Kyrylo ULg

E-print/Working paper (2014)

The genome-wide association and interaction studies are a common practice these days but the correct application of statistical methods and workflows that consciously select best data processing ... [more ▼]

The genome-wide association and interaction studies are a common practice these days but the correct application of statistical methods and workflows that consciously select best data processing strategies is often missing in many GWA studies. Nevertheless given the multitude of such studies there is little consistency and consensus in data processing workflows and quality control steps. Data selection and filtering is often overlooked or poorly documented. Many times the default settings are blindly used disregarding any adjustments and/or optimizations under the context of specific dataset. In present study we want to bring awareness of paying a closer attention to parameter selection in genome-wide association interaction studies (GWAI). We had tested the impact of LD filtering, selection of epistasis algorithms (BOOST, MB-MDR) and marker selection and prioritization strategies on the final results variability under the context of the Ankylosin Spondolytis (AS) dataset obtained from WTCCC2 [1]. [less ▲]

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See detailThe Airline Container Loading Problem with Pickup and Delivery
Lurkin, Virginie ULg; Schyns, Michael ULg

E-print/Working paper (2013)

The present paper looks into the problem of optimizing the loading of a set of containers and pallets into cargo aircraft serving multiple airports. Due to the pickup and delivery operations occurring at ... [more ▼]

The present paper looks into the problem of optimizing the loading of a set of containers and pallets into cargo aircraft serving multiple airports. Due to the pickup and delivery operations occurring at intermediate airports, this problem is simultaneously a weight and balance problem and a sequencing problem. Our objective is to minimize fuel and handling operations costs. This problem is shown to be NP-hard. We resort to a mixed integer linear program. On the basis of a professional partner's real-world data, TNT Airways, we perform numerical experiments using a standard B&C library. This approach yields better solutions than traditional manual planning, which results in substantial cost savings. [less ▲]

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See detailQuadratization of symmetric pseudo-Boolean functions
Anthony, Martin; Boros, Endre; Crama, Yves ULg et al

E-print/Working paper (2013)

A pseudo-Boolean function is a real-valued function $f(x)=f(x_1,x_2,\ldots,x_n)$ of $n$ binary variables; that is, a mapping from $\{0,1\}^n$ to ${\bbr}$. For a pseudo-Boolean function $f(x)$ on $\{0,1 ... [more ▼]

A pseudo-Boolean function is a real-valued function $f(x)=f(x_1,x_2,\ldots,x_n)$ of $n$ binary variables; that is, a mapping from $\{0,1\}^n$ to ${\bbr}$. For a pseudo-Boolean function $f(x)$ on $\{0,1\}^n$, we say that $g(x,y)$ is a quadratization of $f$ if $g(x,y)$ is a quadratic polynomial depending on $x$ and on $m$ auxiliary binary variables $y_1,y_2,\ldots,y_m$ such that $f(x)= \min \{ g(x,y) : y \in \{0,1\}^m \} $ for all $x \in \{0,1\}^n$. By means of quadratizations, minimization of $f$ is reduced to minimization (over its extended set of variables) of the quadratic function $g(x,y)$. This is of some practical interest because minimization of quadratic functions has been thoroughly studied for the last few decades, and much progress has been made in solving such problems exactly or heuristically. A related paper initiated a systematic study of the minimum number of auxiliary $y$-variables required in a quadratization of an arbitrary function $f$ (a natural question, since the complexity of minimizing the quadratic function $g(x,y)$ depends, among other factors, on the number of binary variables). In this paper, we determine more precisely the number of auxiliary variables required by quadratizations of \emph{symmetric} pseudo-Boolean functions $f(x)$, those functions whose value depends only on the Hamming weight of the input $x$ (the number of variables equal to 1). [less ▲]

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See detailEstimation and approximation in multidimensional dynamics
Frasso, Gianluca ULg; Jaeger, Jonathan ULg; Lambert, Philippe ULg

E-print/Working paper (2013)

Differential equations (DEs) are commonly used to describe dynamic systems evolving in one (ordinary differential equations or ODEs) or in more than one dimensions (partial differential equations or PDEs ... [more ▼]

Differential equations (DEs) are commonly used to describe dynamic systems evolving in one (ordinary differential equations or ODEs) or in more than one dimensions (partial differential equations or PDEs). In real data applications the parameters involved in the DE models are usually unknown and need to be estimated from the available measurements together with the state function. In this paper, we present frequentist and Bayesian approaches for the joint estimation of the parameters and of the state functions involved in PDEs. We also propose two strategies to include differential (initial and/or boundary) conditions in the estimation procedure. We evaluate the performances of the proposed strategy on simulated and real data applications. [less ▲]

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See detailMulti-period load assignment problem with stochastic load availability
Crama, Yves ULg; Pironet, Thierry ULg

E-print/Working paper (2013)

In this research, we want to investigate optimization techniques for a generic load assignment problem including a limited fleet of vehicles within a full-truck-load (FTL) multi-period setting including ... [more ▼]

In this research, we want to investigate optimization techniques for a generic load assignment problem including a limited fleet of vehicles within a full-truck-load (FTL) multi-period setting including forecasts on load availability. Several policies are generated from simple heuristics through state of the art approaches such as consensus and restricted expectation algorithms up to the optimization of a subtree of scenarios. Moreover, myopic and a-posteriori deterministic optimizations (including no or fully revealed information) set bounds for policies performance comparisons. Tests are performed for different graphs sizes and sparsity, several distribution laws and number of loads. Performances are compared statistically over paired samples. The robustness of performing policies against a false valuation of the probability distribution is also analyzed. [less ▲]

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See detailRevealed preference tests of collectively rational consumption behavior: formulations and algorithms
Talla Nobibon, Fabrice; Cherchye, Laurens; Crama, Yves ULg et al

E-print/Working paper (2013)

This paper focuses on revealed preference tests of the collective model of household consumption. We start by showing that the decision problems corresponding to testing collective rationality are {\sc np ... [more ▼]

This paper focuses on revealed preference tests of the collective model of household consumption. We start by showing that the decision problems corresponding to testing collective rationality are {\sc np}-complete. This makes the application of these tests problematic for (increasingly available) large(r) scale data sets. We then present two approaches to overcome this negative result. First, we introduce exact algorithms based on mixed-integer programming ({\sc mip}) formulations of the collective rationality tests, which can be usefully applied to medium sized data sets. Next, we propose simulated annealing heuristics, which allow for efficient testing of the collective model in the case of large data sets. We illustrate our methods by a number of computational experiments based on Dutch labor supply data. [less ▲]

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See detailLettre d'information trimestrielle du projet DACEFI 2 - Retour sur l'attribution des premières forêts communautaires du Gabon
Meunier, Quentin; Moumbogou, Carl; Morin, Amélie et al

E-print/Working paper (2013)

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See detailInvestir Ou Mourir ? Il Faut Choisir…
Choffray, Jean-Marie ULg

E-print/Working paper (2013)

Investir : c’est croire en l’avenir. C’est renoncer en partie au présent pour donner vie au futur. C’est tourner le dos aux « Bouffeurs d’espoir » et à l’illusoire confort du statu quo. Enfin, et surtout ... [more ▼]

Investir : c’est croire en l’avenir. C’est renoncer en partie au présent pour donner vie au futur. C’est tourner le dos aux « Bouffeurs d’espoir » et à l’illusoire confort du statu quo. Enfin, et surtout, c’est oser «Oser » ! La distance séparant le discours public de la performance économique avérée suffit à démontrer l’incompréhension des mécanismes de création de richesse de ceux qui sont censés en avoir la maîtrise et les mettre en œuvre. Il est peu de domaines où les illusions, et autres idées fausses, ont un succès tel qu’elles amènent l’observateur aguerri à s’interroger sur le profit que d’aucuns pourraient en tirer. L’objet de ce document est de partager le fruit d’une réflexion menée sur le thème de l’Investissement, forme proéminente et condition première de l’activité économique, au moment où certains s’interrogent sur son encadrement et cherchent à en limiter la liberté. [less ▲]

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See detailAn overview of the foundations' sector in Belgium
Mernier, Amélie ULg

E-print/Working paper (2013)

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See detailQuelques considérations sur la présomption de titularité des droits d'auteur dans la loi du 30 juin 1994 relative au droit d'auteur et aux droits voisins.
Kouembeu Tagne, Jean Jacques ULg

E-print/Working paper (2013)

Nous avons choisi d'axer notre raisonnement sur la problématique de la présomption de titularité des droits d’auteur dans la loi du 30 juin 1994 relative au droit d'auteur et aux droits voisins. Que ... [more ▼]

Nous avons choisi d'axer notre raisonnement sur la problématique de la présomption de titularité des droits d’auteur dans la loi du 30 juin 1994 relative au droit d'auteur et aux droits voisins. Que signifie-t-elle ? Quelles sont les conditions nécessaires à sa mise en œuvre ? Comment les démonter ? [less ▲]

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See detailUne leçon de Poker Menteur
Choffray, Jean-Marie ULg

E-print/Working paper (2013)

L’évolution de la situation de la société Exide Technologies (Nasdaq : XIDE) offre à l’investisseur potentiel une superbe leçon de « Poker Menteur ». Dans la mesure où les marchés ne produisent pas ... [more ▼]

L’évolution de la situation de la société Exide Technologies (Nasdaq : XIDE) offre à l’investisseur potentiel une superbe leçon de « Poker Menteur ». Dans la mesure où les marchés ne produisent pas souvent ce type de « Quasi-expérience », j’ai décidé d’en reconstruire l’histoire et d’en suivre le développement. En partageant ces observations, mon objectif est de transformer une décision d’investissement réalisée dans des « Conditions Extrêmes » en une expérience susceptible d’être conceptualisée et transmise à d’autres. De plus, la solution à cette situation exceptionnelle pourrait constituer un cas d’école dans le domaine des partenariats public-privé à susciter dans le cadre de la transition énergétique d’un Etat ou d’une région. Temps réel oblige…, trois révisions de ce document sont prévues, en fin de semaine, dans le mois à venir. [less ▲]

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See detailApproximation Algorithms for Multi-Dimensional Vector Assignment Problems
Dokka, Trivikram; Crama, Yves ULg; Spieksma, Frits C.R.

E-print/Working paper (2013)

We consider a special class of axial multi-dimensional assignment problems called multi-dimensional vector assignment (MVA) problems. An instance of the MVA problem is defined by $m$ disjoint sets, each ... [more ▼]

We consider a special class of axial multi-dimensional assignment problems called multi-dimensional vector assignment (MVA) problems. An instance of the MVA problem is defined by $m$ disjoint sets, each of which contains the same number $n$ of $p$-dimensional vectors with nonnegative integral components, and a cost function defined on vectors. The cost of an $m$-tuple of vectors is defined as the cost of their component-wise maximum. The problem is now to partition the $m$ sets of vectors into $n$ $m$-tuples so that no two vectors from the same set are in the same $m$-tuple and so that the total cost of the $m$-tuples is minimized. The main motivation comes from a yield optimization problem in semi-conductor manufacturing. We consider two classes of polynomial-time heuristics for MVA, namely, hub heuristics and sequential heuristics, and we study their approximation ratio. In particular, we show that when the cost function is monotone and subadditive, hub heuristics, as well as sequential heuristics, have finite approximation ratio for every fixed $m$. Moreover, we establish better approximation ratios for certain variants of hub heuristics and sequential heuristics when the cost function is monotone and submodular, or when it is additive. We provide examples to illustrate the tightness of our analysis. Furthermore, we show that the MVA problem is APX-hard even for the case $m=3$ and for binary input vectors. Finally, we show that the problem can be solved in polynomial time in the special case of binary vectors with fixed dimension $p$. [less ▲]

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See detailLe pape François se trompe-t-il ?
Choffray, Jean-Marie ULg

E-print/Working paper (2013)

La crise de panique généralisée à laquelle nous avons assisté depuis 2007/2008 – pour reprendre l’analyse qu’en fait l’homme le mieux informé du monde, Ben Bernanke –, n’est rien d’autre que le double ... [more ▼]

La crise de panique généralisée à laquelle nous avons assisté depuis 2007/2008 – pour reprendre l’analyse qu’en fait l’homme le mieux informé du monde, Ben Bernanke –, n’est rien d’autre que le double d’une crise de confiance trouvant son origine dans l’accélération de l’information et la difficulté du pouvoir politique à en percevoir et à en accepter les conséquences. [less ▲]

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See detailLes FAQs du tableau de bord - Mythes et réalités du tableau de bord à l'ère de la mondialisation
Van Caillie, Didier ULg

E-print/Working paper (2013)

Ce document synthétise en 8 questions clés l'état de notre expérience en matière de conception et d'implémentation d'un tableau de bord dans une organisation, privée ou publique, grande ou petite. Les 8 ... [more ▼]

Ce document synthétise en 8 questions clés l'état de notre expérience en matière de conception et d'implémentation d'un tableau de bord dans une organisation, privée ou publique, grande ou petite. Les 8 questions abordées sont : 1. Qu’est-ce qu’un tableau de bord ? 2. Quelle est son utilité pour une organisation à l’ère de la mondialisation ? 3. Quels sont les prérequis à l’utilisation d’un tableau de bord ? 4. Faut-il un tableau de bord unique ou plusieurs tableaux de bord ? 5. Quels indicateurs intégrer au tableau de bord ? 6. Quelle forme donner à un tableau de bord ? 7. Quelle forme donner aux indicateurs retenus ? 8. Comment piloter le projet "Conception & implémentation d’un tableau de bord" ? [less ▲]

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See detailLa fin d'une époque...?
Choffray, Jean-Marie ULg

E-print/Working paper (2013)

Il est des moments exceptionnels dans la vie qui rappellent les lignes de fracture de l’histoire. C’est, peut-être, ce que notre monde moderne vit aujourd’hui. Dans ce document, et avant que nous ne ... [more ▼]

Il est des moments exceptionnels dans la vie qui rappellent les lignes de fracture de l’histoire. C’est, peut-être, ce que notre monde moderne vit aujourd’hui. Dans ce document, et avant que nous ne vivions ce qui pourrait être un printemps, ou un automne « chaud », il m’a paru utile de mettre un peu d’ordre dans mes observations sur « L’air du temps. » Pas d’autre ambition pour ce texte, donc, que de chercher à comprendre les événements passés, et de prendre date sur les nuages qui s’amoncellent ! [less ▲]

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Peer Reviewed
See detailRetour au travail après une longue absence...
Mairiaux, Philippe ULg

E-print/Working paper (2013)

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See detailLes nouvelles dispositions légales pour la récupération de bois abandonnés
Meunier, Quentin; Moumbogou, Carl; Vermeulen, Cédric ULg

E-print/Working paper (2013)

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See detailLa superposition des permis forestiers, des permis miniers et des futures forêts communautaires
Morin, Amélie; Moumbogou, Carl; Meunier, Quentin et al

E-print/Working paper (2013)

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See detailImpact of uncertainty in climate forcing on projections of the West Antarctic ice sheet over the 21st and 22nd centuries
Payne, A.J.; Cornford, S.L.; Martin, D.F. et al

E-print/Working paper (2013)

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See detailLettre d’information trimestrielle du projet Développement d’Alternatives Communautaires à l’Exploitation Forestière Illégale
Boldrini, Sylvie; Moumbogou; Meunier, Quentin et al

E-print/Working paper (2013)

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See detailEvolution de la ressource ligneuse et des stocks de carbone
Marien, Jean-Noel; Bisiaux, F.; Boulogne, M. et al

E-print/Working paper (2013)

Entre 2010 et 2012, une étude complexe a été menée pour apporter des éléments qualitatifs et quantitatifs fiables sur l’évolution de la ressource ligneuse sur le bassin d’approvisionnement en bois énergie ... [more ▼]

Entre 2010 et 2012, une étude complexe a été menée pour apporter des éléments qualitatifs et quantitatifs fiables sur l’évolution de la ressource ligneuse sur le bassin d’approvisionnement en bois énergie de Kinshasa. Cette étude pluridisciplinaire (Figure 1) a mobilisé l’analyse d’images satellites, la cartographie, les inventaires forestiers, la dendrométrie, des études sur la carbonisation traditionnelle et la compréhension des dynamiques sociales et économiques des zones d’étude. En plus d’analyser l’évolution de la couverture forestière sur la période de suivi (1984-2012), ce travail a permis de quantifier pour la première fois, sur des bases scientifiques et des méthodologies solides, les stocks de biomasse aérienne et de carbone ainsi que leur évolution. Après calage avec les standards REDD+, ces informations devraient se révéler très utiles dans la perspective des futurs projets REDD+ en Afrique centrale. Cette étude couvre une superficie de 900 000 ha située sur le plateau Batéké et au Bas Congo. La zone d’étude concerne près de 80% de l’approvisionnement total en bois énergie de l’agglomération de Kinshasa (Figure 2). [less ▲]

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See detailSocial Security and Economic Integration
Artige, Lionel ULg; Dedry, Antoine ULg; Pestieau, Pierre ULg

E-print/Working paper (2013)

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See detailReforming the Postal Universal Service
Gautier, Axel ULg; Poudou, Jean-Christophe

E-print/Working paper (2013)

The postal sector has undergone dramatic changes over the recent years under the double effect of ongoing liberalization and increased competition with alternative communication channels (e-substitution ... [more ▼]

The postal sector has undergone dramatic changes over the recent years under the double effect of ongoing liberalization and increased competition with alternative communication channels (e-substitution). As a result, the mail volume handled by the historical operator has declined sharply while the latter's ability to match the same standard of universal service may be under threat. Thus, a reform of the postal universal service is on the agenda. This paper examines possible reforming options ranging from keeping universal service within the postal sector to redefining universal service as spanning postal and electronic technologies. [less ▲]

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See detailBrentano’s empiricism and the refutation of a priori knowledge
Boccaccini, Federico ULg

E-print/Working paper (2013)

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See detailSoil apparent conductivity measurements for planning and analysis of agricultural experiments: A case study from Western-Thailand
Rudolph, Sebastian; Wongleecharoen, Chalemchart; Marchant, B. et al

E-print/Working paper (2013)

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See detailLa tolérance est coûteuse. On essaye l'intolérance ?
Jacquemain, Marc ULg

E-print/Working paper (2013)

Le texte a servi à présenter une conférence à des étudiants de bacheliers pédagogiques. Il rappelle, sur un ton informel, mais en essayant d'être rigoureux, la place et l'importance de la tolérance dans ... [more ▼]

Le texte a servi à présenter une conférence à des étudiants de bacheliers pédagogiques. Il rappelle, sur un ton informel, mais en essayant d'être rigoureux, la place et l'importance de la tolérance dans toute conception raisonnable de la vie en société. Il rappelle notamment que si la tolérance n'est pas une vertu "flamboyante", elle constitue un préalable indispensable à d'autres modalités plus exigeantes du vivre ensemble [less ▲]

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See detailA Mixed Integer Programming formulation for the three dimensional bin packing problem deriving from an air cargo application
Paquay, Célia ULg; Schyns, Michael ULg; Limbourg, Sabine ULg

E-print/Working paper (2013)

This paper proposes a mathematical linear model for the problem of packing a given set of items, namely rectangular boxes of strongly different sizes into a selection of containers of various shapes while ... [more ▼]

This paper proposes a mathematical linear model for the problem of packing a given set of items, namely rectangular boxes of strongly different sizes into a selection of containers of various shapes while minimizing the unused volume. This problem belongs to the cutting and packing problems and is defined as a Multiple Bin Size Bin Packing Problem. This NP-hard problem has been extensively studied for the last decades, mainly through heuristic approaches not based on linear mathematical formulations. Besides, only few studies considers the constraints encountered in real world applications. Therefore the proposed linear formulation takes into account constraints such as the rotation of the boxes, the cargo stability and the weight distribution inside a container. Moreover, since the starting point of this article is an air cargo application, one of the main contributions of this paper lies in considering [less ▲]

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See detailL’appropriation discursive et pratique du concept de développement durable par des GACEURS et des bénévoles/travailleurs du commerce équitable, vers un imaginaire critique partagé ?
Thys, Séverine ULg

E-print/Working paper (2013)

Ce Working Paper interroge l’existence d’un référentiel critique et argumentatif commun à des initiatives d’Economie Sociale du secteur alimentaire. En utilisant l’appareillage théorique de la « ... [more ▼]

Ce Working Paper interroge l’existence d’un référentiel critique et argumentatif commun à des initiatives d’Economie Sociale du secteur alimentaire. En utilisant l’appareillage théorique de la « sociologie des épreuves », les propos de GACEURS et de bénévoles/salariés du commerce équitable sont analysés afin de voir si le concept de Développement Durable porte en lui un projet sociétal, un référentiel fédérateur, apte à mobiliser des consom’acteurs autour de revendications partagées. L’analyse met en évidence un corpus critique commun articulé autour de quatre axes, dont trois relèvent bien du développement durable, mais nuance ses conclusions au vu de la faiblesse de la grammaire argumentative construite, et des contradictions qui la parcourent. [less ▲]

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See detailLa pratique des inventaires multi-ressources dans les forêts communautaires, ou comment rendre la foresterie communautaire inaccessible aux villageois
Meunier, Quentin; Vermeulen, Cédric ULg; Boldrini, Sylvie et al

E-print/Working paper (2013)

Des inventaires trop complexes imposés aux populations locales risquent de freiner considérablement l'appropriation des futures forêts communautaires gabonaises. La présente fiche technique compare les ... [more ▼]

Des inventaires trop complexes imposés aux populations locales risquent de freiner considérablement l'appropriation des futures forêts communautaires gabonaises. La présente fiche technique compare les avantages et inconvénients des inventaires par poches, des inventaires d'exploitation habituellement réalisés dans les Forêts Communautaires camerounaises et une approche plus simple par normes proposée par l'équipe rédactionnelle. [less ▲]

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See detailThe agyieus pillar, Egyptian legal papyri, and the cult of Arsinoe Philadephos in the streets of Alexandria
Caneva, Stefano ULg

E-print/Working paper (2013)

This paper is divided into two sections. The first aims to offer a thorough discussion of the agyieus and of types of altar for Arsinoe Philadelphos as well as of the offerings devoted to her in the ... [more ▼]

This paper is divided into two sections. The first aims to offer a thorough discussion of the agyieus and of types of altar for Arsinoe Philadelphos as well as of the offerings devoted to her in the Ptolemaic kingdom. The second explores the relationship that exists between the agyieus and the creation of cultic double names of Arsinoe in the streets of Alexandria. By combining the evidence on Arsinoe’s altars with a set of legal papyri attesting her divine names in Alexandria, I argue that in the Ptolemaic capital, the agyieis had a twofold function. They served firstly, as cult places for Arsinoe and secondly, as city landmarks. I will also argue that the second function of the agyieis, as city landmarks, survived the Ptolemaic cult of the Philadelphos and was ultimately preserved in long-lasting toponyms. [less ▲]

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See detailInnovation, Capital Structure, and Agency: A Contingent Claim Analysis
Tiwari, Amaresh Kumar ULg

E-print/Working paper (2013)

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See detailThe state against itself
Maiorano, Diego ULg

E-print/Working paper (2013)

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See detailAnalyse des divergences entre forêts communautaires et permis de gré à gré au Gabon
Meunier, Quentin; Moumbogou; Boldrini, Sylvie et al

E-print/Working paper (2013)

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See detailNew institutional economic theories of non-profits and cooperatives: a critique from an evolutionary perspective
Bauwens, Thomas ULg

E-print/Working paper (2013)

Traditional economic theories of social enterprises rely on new institutional economics. Although these theories have an undeniable explanatory power, they display a series of non-negligible flaws ... [more ▼]

Traditional economic theories of social enterprises rely on new institutional economics. Although these theories have an undeniable explanatory power, they display a series of non-negligible flaws. Evolutionary and complexity approaches in economics may help overcome these limits. The object of this article is, in a first time, to review the different new institutional theories applied to non-profits and cooperatives and, in a second time, to present some criticisms addressed to new institutional economics. We concentrate on two controversial aspects of the latter: on the one hand, its underlying hypotheses about individuals and, in particular, bounded rationality and opportunism; on the other hand, its neglect of the emergent and evolving nature of economic phenomena and of the importance of history and the environment in agents’ institutional choices. For each criticism, we make proposals, mainly inspired by evolutionary and complexity approaches in economics, in order to overcome these limits. [less ▲]

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See detailExcess Return Forecast Using a Dynamic Asset Class Factor Model
Hübner, Georges ULg; Sougné, Danielle ULg; Wijnandts, Jean-Charles ULg

E-print/Working paper (2012)

We propose a Dynamic Hierarchical Factor Model using Asset classes to predict mutual funds excess returns. We use different forecast combination schemes of bivariate model considering each asset class ... [more ▼]

We propose a Dynamic Hierarchical Factor Model using Asset classes to predict mutual funds excess returns. We use different forecast combination schemes of bivariate model considering each asset class factor in isolation. Primary analysis highlights the importance to account for asset class specific variations together with between classes or common variations. Further refinements of the a priori repartition are however in order. Forecasting performance of the model outperforms the historical mean benchmark both in terms of MSPE and utility based criteria. A forecasting exercise matching more closely real-time conditions must be undertaken to validate these initial results. [less ▲]

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Peer Reviewed
See detailLes investisseurs institutionnels dans les Maisons de luxe familiales belges: entre diabolisation et sacralisation
Riguelle, France ULg; Van Caillie, Didier ULg

E-print/Working paper (2012)

Abstract : Belgian family luxury Houses are increasingly confrontated to a problem of independence caused by the growing influence of great financial groups and of private investment funds, on the one ... [more ▼]

Abstract : Belgian family luxury Houses are increasingly confrontated to a problem of independence caused by the growing influence of great financial groups and of private investment funds, on the one hand, and by a problem of image due to their Belgian origin, on the other hand. Nevertheless, their growing need for internationalization in order to counter the threats of the market and to seize opportunities leads them to concede one part of their control to institutional investors. The interest of this research is to study the potential impact, as perceived by the leaders of Belgian luxury Houses, of the venue of public institutional investors in their capital structure. We show that this perceived impact oscillates between sacralization and diabolisation of public institutional investors. [less ▲]

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See detailLettre d'Information trimestrielle du projet N°8
Meunier, Quentin; Moumbogou; Vermeulen, Cédric ULg

E-print/Working paper (2012)

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See detailComparison Between Mornigstar Ratings And Traditional Performance Measures Ratings
Bodson, Laurent ULg; Delhalle, Stéphanie ULg; Sougné, Danielle ULg

E-print/Working paper (2012)

In this paper, we compare Morningstar ratings with those obtained using the same methodology of rating attribution with a set of commonly used performance measures. We look at three types of investment ... [more ▼]

In this paper, we compare Morningstar ratings with those obtained using the same methodology of rating attribution with a set of commonly used performance measures. We look at three types of investment horizons: 3-year, 5-year and 10-year ratings. Our analysis focuses on Open-End US Mutual Funds available in Morningstar Direct Database from which we create three sets of 16,617, 13,505 and 7,992 funds corresponding respectively to the three investment horizons analyzed. Our results show that Morningstar ratings are very close (correlation around 80%) to ratings obtained with Sharpe’s alpha, Jensen’s alpha, Four-factor alpha and Excess returns. And less significantly, we also observe that ratings given by the Sortino ratio, Sharpe MVaR, M-squared, Sharpe ratio, One-factor information ratio, Four-factor information ratio, Prospect ratio and Stutzer index are quite similar to Morningstar’s ratings (correlation lying between 70% and 78%). At the other end of the spectrum, however, ratings obtained with Annual return diverge widely from Morningstar ratings. We also analyse which explanatory variables can explain the differences between ratings computed with Morningstar as compared with the alternative performance measures using a probit regression. We find that Load adjustments, tax and risk included by Morningstar in the computation of MRAR are often determining. Expense ratio, Return Skewness and the three factors of the Fama-French model (Beta, Size load and Book-to-market loading) can be significant determinants depending on the performance measure analyzed and on the selected investment horizon. Fund characteristics such as Age, Fund size, Turnover rate and Manager tenure are not statistically significant in determining the differences in ratings. Besides, we analyze differences between ratings (in terms of number of STARs) and we confirm previous results (i.e. the link between Morningstar’s and the alternative performance measures, but also the explanatory capacity of the load for lots of differences between ratings). Finally, we test all possible combinations of our set of performance measures, and observe that Sharpe’s alpha, excess return, Sharpe MVaR, Four-factor alpha and Jensen’s alpha are part of the best combinations. As a conclusion, Morningstar ratings can be replicated using simple and traditional performance measures but the replication is less accurate when tax and loads features are important. Therefore, Morningstar data management and access bring the most of its ratings’ value added. [less ▲]

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See detailCoûts d’efficience des dépositaires centraux des titres des pays africains
Teuwa Nkeuwo, Mathieu Hugues ULg; Muller, Aline ULg

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 ▲]

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See detailPlan Simple de Gestion à vocation de production de bois énergie
Dubiez, Emilien; Vermeulen, Cédric ULg; Larzilière, Adélaïde

E-print/Working paper (2012)

Les zones d’interventions du Projet Makala présentent des contextes différents liés à l’occupation spatiale coutumière, l’organisation des structures sociales traditionnelles (lignage, clan, chefferie ... [more ▼]

Les zones d’interventions du Projet Makala présentent des contextes différents liés à l’occupation spatiale coutumière, l’organisation des structures sociales traditionnelles (lignage, clan, chefferie coutumière), les types de formations végétales présentes dans la zone et les activités principales des populations. L’ensemble de ces éléments structure l’intervention du projet dans son objectif d’aménagement des espaces forestiers périurbains dégradés. Des enquêtes d’identification du finage et des terroirs villageois partenaires ont d’abord été réalisées pour caractériser le contexte social et environnemental d’intervention. Les données recueillies ont constituées la base de travail de la construction du processus d’élaboration des Plans Simples de Gestion (PSG). Le présent document présente les étapes structurant le PSG, l’outil de démarche participatif permettant une appropriation collective du processus et les activités techniques développées pour la reconstitution des espaces forestiers dégradés. [less ▲]

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See detailLettre d'information trimestrielle N°7 Projet Dacefi
Meunier, Quentin; Boldrini, Sylvie ULg; Boukouendji, B. et al

E-print/Working paper (2012)

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See detailConditional asset allocation: Does Market-Wide Liquidity Matter?
Bazgour, Tarik ULg; Sougné, Danielle ULg; Heuchenne, Cédric ULg

E-print/Working paper (2012)

This paper investigates the effect of market-wide liquidity on optimal portfolio allocations across US equity portfolios sorted by size and book-to-market characteristics. In particular, we consider a ... [more ▼]

This paper investigates the effect of market-wide liquidity on optimal portfolio allocations across US equity portfolios sorted by size and book-to-market characteristics. In particular, we consider a single-period investor with a relative risk aversion of 5, and use the nonparametric approach of Brandt (1999) to directly express optimal portfolio weights as functions of market-wide liquidity innovations. We find, first, that the effect of market-wide liquidity is a decreasing function of investment horizon. Second, this effect is stronger in allocations in the small stock portfolio and gets weaker as we move towards the large stock portfolio. Third, conditional allocations in risky asset(s) decrease and exhibit shifts towards more liquid and less risky assets as market-wide liquidity worsens. Overall, our results show that allocations based on market-wide liquidity as a signal capture many phenomena that have been identified by researchers in the US market, such as the so-called “flight-to-safety”, flight-to-quality” and “flight-to-liquidity” episodes. Furthermore, in an out-of-sample test, results demonstrate the superior performance of a strategy based on market-wide liquidity compared to a benchmark strategy. [less ▲]

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See detailThe design of performance monitoring systems in healthcare organizations : a stakeholder perspective
Rouhana, Rima; Van Caillie, Didier ULg

E-print/Working paper (2012)

Monitoring the hospital’s performance is evolving over time in search of more efficiency by integrating additional levels of care, reducing costs and keeping stuff up-to-date. To fulfill these three ... [more ▼]

Monitoring the hospital’s performance is evolving over time in search of more efficiency by integrating additional levels of care, reducing costs and keeping stuff up-to-date. To fulfill these three potentially divergent aspects and to monitor performance, healthcare administrators are using dissimilar management control tools. To explain why, we suggest to go beyond traditional contingent factors to assess the role of the different stakeholders (governments, patients, authorities, personnel and administrators) that are at the heart of any healthcare organization. So, the main interest of our empirical study is to appraise how healthcare managers can foster strategic “alignment” in chaotic environments. To investigate this subject, we rely first on seminal studies to appraise the role of the main healthcare players and their influence on some organizational attributes (essentially size, lifecycle, structure, climate and technology in use). We then consider the managerial awareness and the perception of a suitable management control system (MCS) to promote a strategy-focused organization. Our methodology is based on a qualitative approach of twenty-two case studies, lead in two heterogeneous environments (Belgium and Lebanon). This method allows to illustrate, for each healthcare player, its positioning within the healthcare systems. Thus, we define how its role, its perception and its responsiveness manipulate the organization’s internal climate and shape the design of the performance monitoring systems. Our findings are expected to add knowledge on the reasons of the choice of adequate management systems, within three different healthcare organizational structures: university, general/university and general hospitals. [less ▲]

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See detailLes chemins de l’… sont pavés de bonnes intentions
Choffray, Jean-Marie ULg

E-print/Working paper (2012)

C’est un fait connu : « Les Liégeois ont été plus que tous les ans domptés. Néanmoins, ils ont toujours relevé leurs crestes » Citation de Michel de L’Hospital, 1558, gravée au fronton du bâtiment de la ... [more ▼]

C’est un fait connu : « Les Liégeois ont été plus que tous les ans domptés. Néanmoins, ils ont toujours relevé leurs crestes » Citation de Michel de L’Hospital, 1558, gravée au fronton du bâtiment de la Cité Administrative de Liège. [less ▲]

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See detailContextual Multi-armed Bandits for the Prevention of Spam in VoIP Networks
Jung, Tobias ULg; Martin, Sylvain ULg; Ernst, Damien ULg et al

E-print/Working paper (2012)

In this paper we argue that contextual multi-armed bandit algorithms could open avenues for designing self-learning security modules for computer networks and related tasks. The paper has two ... [more ▼]

In this paper we argue that contextual multi-armed bandit algorithms could open avenues for designing self-learning security modules for computer networks and related tasks. The paper has two contributions: a conceptual one and an algorithmical one. The conceptual contribution is to formulate -- as an example -- the real-world problem of preventing SPIT (Spam in VoIP networks), which is currently not satisfyingly addressed by standard techniques, as a sequential learning problem, namely as a contextual multi-armed bandit. Our second contribution is to present CMABFAS, a new algorithm for general contextual multi-armed bandit learning that specifically targets domains with finite actions. We illustrate how CMABFAS could be used to design a fully self-learning SPIT filter that does not rely on feedback from the end-user (i.e., does not require labeled data) and report first simulation results. [less ▲]

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See detailDo Mutual Fund Investors Still Trust Standard Risk-Adjusted Performance Measures?
Bodson, Laurent ULg; Cave, Arnaud; Sougné, Danielle ULg

E-print/Working paper (2012)

We study the relationship between the risk-adjusted performance of mutual funds and their money flows (i.e. their subscriptions and redemptions). Testing the most traditional risk-adjusted performance ... [more ▼]

We study the relationship between the risk-adjusted performance of mutual funds and their money flows (i.e. their subscriptions and redemptions). Testing the most traditional risk-adjusted performance measures, we identify the ones which best explain the flows of equity, bond or mixed funds. The risk-adjusted performance measures which attract the most the attention from investors are the Information ratios (mono- and multi-factor), the M-squared and the Sharpe ratios (traditional Sharpe ratios and Sharpe MVaR). We may conclude that fund managers who want to maximize their AuM (and, if applicable, increase their AuM based fees) must mainly focus their efforts on improving these standard performance measures. Furthermore, we also demonstrate that the performance-flow relationship is concave then convex. Indeed, amongst the funds with a negative performance, those achieving the worst results are affected by disproportionately high net outflows whereas, on the opposite side of the spectrum, the most successful funds experience much higher capital inflows. [less ▲]

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See detailNewsletter n°6 - DACEFI
Meunier, Quentin; Moumbogou, Carl; Morin, Amélie et al

E-print/Working paper (2012)

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See detailDo Mutual Fund Investors Still Trust Standard Risk-Adjusted Performance Measures?
Sougné, Danielle ULg; Bodson, Laurent ULg; Cave, Arnaud

E-print/Working paper (2012)

We study the relationship between the past performance of mutual funds and their capital flows (i.e. their subscriptions and redemptions). Testing the most traditional risk-adjusted performance measures ... [more ▼]

We study the relationship between the past performance of mutual funds and their capital flows (i.e. their subscriptions and redemptions). Testing the most traditional risk-adjusted performance measures, we identify the ones which best explain the flows of US equity mutual funds. [less ▲]

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See detailA Global Approach to Mutual Funds Market Timing Ability
Sougné, Danielle ULg; Bodson, Laurent ULg; Cavenaile, Laurent

E-print/Working paper (2012)

In this paper, we globally investigate market timing abilities of mutual fund managers from the three perspectives: market return, market-wide volatility and aggregate liquidity. We propose a new ... [more ▼]

In this paper, we globally investigate market timing abilities of mutual fund managers from the three perspectives: market return, market-wide volatility and aggregate liquidity. We propose a new specification to study market timing. Instead of considering an average market exposure for mutual funds, we allow mutual fund market betas to follow a random walk in the absence of market timing ability. As a consequence, we capture market exposure dynamics which is really due to manager market timing skills while allowing dynamics to come from other sources than market timing. We find that on average 6% of mutual funds display return market timing abilities while this percentage amounts to respectively 13% and 14% for volatility and liquidity market timing. We also analyze market timing by investment strategies and for surviving and dead funds. Dead fund exhibit lower volatility and liquidity timing skills than live funds. [less ▲]

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See detailBriefe an Casanova
Roggendorf, Cécile de; Viehöver, Vera ULg

E-print/Working paper (2012)

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See detailNewsletter n° 5 - DACEFI 2
Meunier, Quentin; Moumbogou, Carl; Angwé, A. et al

E-print/Working paper (2012)

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See detailLe design du système de contrôle de gestion dans les PMI tunisiennes: une modélisation contingente
Ghorbel, Jihene ULg; Van Caillie, Didier ULg

E-print/Working paper (2012)

A l'heure actuelle, il existe relativement peu de recherches qui traitent du système de contrôle de gestion des PME, spécialement dans le contexte tunisien, malgré leur importance économique. La présente ... [more ▼]

A l'heure actuelle, il existe relativement peu de recherches qui traitent du système de contrôle de gestion des PME, spécialement dans le contexte tunisien, malgré leur importance économique. La présente communication vise dès lors à élaborer un modèle théorique expliquant le design du système de contrôle de gestion dans les PMI tunisiennes, au départ d'une analyse de la littérature portant spécifiquement soit sur les PMI tunisiennes, soit sur le système de contrôle de gestion de la PME. Cette étude est réalisée en privilégiant deux angles d'analyse particulièrement importants au vu du contexte tunisien, à savoir la taille de l'entreprise et son positionnement sur le cycle de vie. [less ▲]

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See detailModule 3, techniques de reconstitution forestière
Dubiez, Emilien; Vermeulen, Cédric ULg

E-print/Working paper (2012)

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See detailMeasuring Downside and Extreme Risk Allocation in Equity Hedge Funds
Lambert, Marie ULg

E-print/Working paper (2012)

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See detailInternet-Based Investing at the Edge of Chaos
Choffray, Jean-Marie ULg

E-print/Working paper (2012)

This paper presents a simple, seven-step approach, to surviving on World Street: an investment environment characterized by high frequency trading system; over leveraged shadow entities and hedge funds ... [more ▼]

This paper presents a simple, seven-step approach, to surviving on World Street: an investment environment characterized by high frequency trading system; over leveraged shadow entities and hedge funds; flash crashes, incompetent management, reverse merger frauds, dot bubble 2.0 IPOs and stealth central banks’ actions. Its goal is to help you design efficient investment strategies while protecting your assets. It is based on a personal research conducted over the last ten years, involving hundreds of observations, investment simulations and actual decisions. [less ▲]

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See detailOn the use of adhesion parameters to validate models specified using systems of affine differential equations
Jaeger, Jonathan ULg; Lambert, Philippe ULg

E-print/Working paper (2012)

A strategy for the selection of system of differential equations is proposed based on Bayesian ODE-penalized B-spline approach. It estimates the ODE parameters, approximates the solution of the ODE model ... [more ▼]

A strategy for the selection of system of differential equations is proposed based on Bayesian ODE-penalized B-spline approach. It estimates the ODE parameters, approximates the solution of the ODE model and quantifies the suitability of the proposed differential equations to model the dynamics of the observed state functions. Simulation study confirms that these ODE-adhesion parameters are able to question a system of differential equations as a descriptor of the dynamics in the state functions. This methodology is illustrated on a pharmacokinetic study. [less ▲]

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See detailEntrepreneuriat social
Mertens de Wilmars, Sybille ULg; Defourny, Jacques ULg

E-print/Working paper (2012)

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Peer Reviewed
See detailLe financement des associations en Belgique francophone
Mertens de Wilmars, Sybille ULg; Marée, Michel ULg

E-print/Working paper (2012)

En raison de la nature de leurs activités et de leur finalité non lucrative, les associations rencontrent des problèmes spécifiques de financement, que ce soit au niveau de leurs opérations courantes ou ... [more ▼]

En raison de la nature de leurs activités et de leur finalité non lucrative, les associations rencontrent des problèmes spécifiques de financement, que ce soit au niveau de leurs opérations courantes ou de leurs dépenses d'investissements. Toutefois, Il existe encore peu d'études empiriques sur cette question dans les pays francophones, de sorte que nombre d'a priori - comme par exemple le fait que les associations auraient peu de garanties à offrir aux banques - sont communément admis sans qu'ils soient validés par des données de terrain. Pour mieux cerner la problématique du financement de l'associatif dans ses dimensions concrètes, on a réalisé un premier "état des lieux" du financement du secteur associatif en Belgique francophone (Wallonie et Bruxelles) en procédant à une enquête auprès d'un échantillon représentatif. Un des enseignements de cette recherche concerne précisément les relations avec les institutions bancaires. En cas de difficultés de trésorerie, la moitié à peine des associations recourent au crédit de caisse, les autres préférant se tourner vers leurs membres, vers les pouvoirs publics ou encore vers une autre association. Moins nombreuses encore sont les associations qui s'adressent aux banques pour financer leurs investissements. Mais contrairement à l'opinion courante, la principale raison ne réside ni dans les difficultés d'obtention d'un crédit, ni dans la lourdeur des formalités nécessaires : si les associations n'empruntent guère aux banques, c'est essentiellement pour des raisons de principe (ne pas s'endetter auprès des institutions bancaires). Ces raisons sont vraisemblablement liées, d'une part, à une aversion plus marquée du risque que les PME et, d'autre part, à une prise de distance à l'égard des principes de l'économie marchande. [less ▲]

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See detailBronfenbrenner, écologie du développement humain. Réflexion et action pour la promotion de la santé
Absil, Gaëtan ULg; Vandoorne, Chantal ULg; Demarteau, Michel

E-print/Working paper (2012)

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See detailA capacity game in transportation management
Amand, Guillaume ULg; Arda, Yasemin ULg

E-print/Working paper (2012)

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See detailInventaire des papiers Michel Gloesener (1794-1876)
Caulier-Mathy, Nicole; Haesenne-Peremans, Nicole; Oger, Cécile ULg

E-print/Working paper (2012)

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Peer Reviewed
See detailGermanistische Mitteilungen 38.1
Bosse, Anke; Bunzel, Wolfgang; Ceuppens, Jan et al

E-print/Working paper (2012)

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See detailLes initiatives informelles dans le Sud partagent-elles une logique capitaliste ou représentent-elles les germes d’une économie solidaire ? Le cas de Santiago du Chili
Bauwens, Thomas ULg; Lemaître, Andreia

E-print/Working paper (2012)

Do informal initiatives display the capitalist spirit of entrepreneurship that they are often supposed to share? It is this question that this working paper is devoted to, trying to answer it through the ... [more ▼]

Do informal initiatives display the capitalist spirit of entrepreneurship that they are often supposed to share? It is this question that this working paper is devoted to, trying to answer it through the “popular economy” approach, focusing on the case of Chile. In a first step, based on a historical approach, we try to understand why the number of economic popular organizations shrank substantially since the end of the 80’s. In a second step, we bring elements of answer to the original question on the basis of deep case-studies undertaken in 2012 in Santiago de Chile. [less ▲]

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See detailPronominal reference in Dutch: a corpus-based study of resemanticisation
De Vos, Lien ULg

E-print/Working paper (2012)

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See detailInstituants et prix culturels, Québec, 1919-1939 : histoire culturelle et base de données
Dozo, Björn-Olav ULg; Lacroix, Michel; Lapointe, Olivier

E-print/Working paper (2012)

Detailed reference viewed: 21 (2 ULg)
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See detailBayesian penalized smoothing approaches in models specified using affine differential equations with unknown error distributions
Jaeger, Jonathan ULg; Lambert, Philippe ULg

E-print/Working paper (2012)

A full Bayesian approach based on ODE-penalized B-splines and penalized Gaussian mixture is proposed to jointly estimate ODE-parameters, state function and error distribution from the observation of some ... [more ▼]

A full Bayesian approach based on ODE-penalized B-splines and penalized Gaussian mixture is proposed to jointly estimate ODE-parameters, state function and error distribution from the observation of some state functions involved in systems of affine differential equations. Simulations inspired by pharmacokinetic studies show that the proposed method provides comparable results to the method based on the standard ODE-penalized B-spline approach (i.e. with the Gaussian error distribution assumption) and outperforms the standard ODE-penalized B-splines when the distribution is not Gaussian. This methodology is illustrated on the Theophylline dataset. [less ▲]

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See detailNewsletter n°4 - DACEFI
Meunier, Quentin; Moumbogou, Carl; Ibinga, S. et al

E-print/Working paper (2011)

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See detailComment se finance le secteur associatif? Résultats d'une enquête de terrain en Belgique francophone
Mertens de Wilmars, Sybille ULg; Marée, Michel ULg

E-print/Working paper (2011)

Ce rapport expose les résultats d'une enquête de terrain menée en Belgique francophone fin 2010 auprès d 'environ 500 associations employeurs. Les thèmes de l'enquête concernent la situation bilantaire ... [more ▼]

Ce rapport expose les résultats d'une enquête de terrain menée en Belgique francophone fin 2010 auprès d 'environ 500 associations employeurs. Les thèmes de l'enquête concernent la situation bilantaire des associations, le financement des dépenses courantes, le financement des dépenses d'investissement, la situation de trésorerie et les apports non monétaires. [less ▲]

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See detailLève-toi et entreprends !...
Choffray, Jean-Marie ULg

E-print/Working paper (2011)

Quelques pistes de réflexion pour faire face, avec solidarité, créativité, intelligence, et détermination, aux défis humains et économiques que pose la reconversion industrielle d'ArcelorMittal.

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See detailSurprise… Surprise ! Six ouvrages publiés sur le Net, que je n’ai jamais autorisés !
Choffray, Jean-Marie ULg

E-print/Working paper (2011)

Passé un premier étonnement, ce n’est pas désagréable de découvrir que d’autres apprécient suffisamment certaines de vos contributions scientifiques pour se les approprier, et les publier sur le Net sous ... [more ▼]

Passé un premier étonnement, ce n’est pas désagréable de découvrir que d’autres apprécient suffisamment certaines de vos contributions scientifiques pour se les approprier, et les publier sur le Net sous la forme de divers ouvrages numériques et/ou physiques. [less ▲]

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See detail"Oh wow. Oh wow. Oh wow."
Choffray, Jean-Marie ULg

E-print/Working paper (2011)

Pour les enseignants/chercheurs universitaires, et autres scientifiques, de ma génération, il y a incontestablement un « avant » et un « après » Apple II !... Plus que tout autre, au travers de sa ... [more ▼]

Pour les enseignants/chercheurs universitaires, et autres scientifiques, de ma génération, il y a incontestablement un « avant » et un « après » Apple II !... Plus que tout autre, au travers de sa créativité, de son ingéniosité, et de son sens de l’entreprise, Steve Jobs a durablement créé de nouvelles opportunités de développement intellectuel et professionnel. [less ▲]

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See detailModule 3, techniques de reconstitution forestière
Dubiez, Emilien; Vermeulen, Cédric ULg

E-print/Working paper (2011)

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See detailLe prix de l'incompétence (2)
Choffray, Jean-Marie ULg

E-print/Working paper (2011)

Poser la question de la compétence des administrateurs des banques belges, et celle de la pertinence du démantèlement de Fortis, c'est y répondre !... Réaction personnelle à la position courageuse ... [more ▼]

Poser la question de la compétence des administrateurs des banques belges, et celle de la pertinence du démantèlement de Fortis, c'est y répondre !... Réaction personnelle à la position courageuse exprimée par La Libre Belgique. [less ▲]

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