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The Impact of Merger Legislation on Bank Mergers

We find that stricter merger control legislation increases abnormal announcement returns of targets in bank mergers by 7 percentage points. Analyzing potential explanations for this result, we document an increase in the pre-merger profitability of targets, a decrease in the size of acquirers and a decreasing share of transactions in which banks are acquired by other banks. Other…

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English / 18/05/2016

Foreign Ownership and Market Power in Banking: Evidence from a World Sample

The nexus between ownership and competition in the banking sector is a major concern to policymakers around the world but one that is rarely comprehensively examined. For 131 countries and 13 years we match bank ownership with over 50,000 bank-year estimates of individual bank market power. We find that ownership does not explain market power at the individual bank level. However, at…

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English / 01/04/2016

Endogenous trading in Credit Default Swaps

We introduce a real options model in order to quantify the moral hazard impact of credit default swap (CDS) positions on the corporate default probabilities. Moral hazard is widely addressed in the insurance literature, where the insured agent may become less cautious about preventing the risk from occurring. Importantly, with CDS the moral hazard problem may be magnified since one…

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English / 01/04/2016

Québécoisation method for the pricing of Parisian options with jump risk

In this paper, a new technique for pricing of European and American Parisian options, that we call the québécoisation method, is developed. We study the pricing of Parisian options in a hyper-exponential jump-diffusion model using the double Laplace-Carson transform with respect to the time to maturity and the residual Parisian time (time to expiration of the Parisian window) of the…

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English / 10/02/2016

Interconnectedness as a source of uncertainty in systemic risk

Financial networks have shown to be important in understanding systemic events in credit markets. In this paper, we investigate how the structure of those networks can affect the capacity of regulators to assess the level of systemic risk. We introduce a model to compute the individual and systemic probability of default in a system of banks connected in a generic network of credit…

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English / 02/02/2016

Specialised IP Courts: Issues and Challenges

Under the TRIPS Agreement (Art. 41 para. 5) countries are given the option to create specialised
intellectual property (IP) courts. On this basis, countries are free to decide what types of judicial
body or bodies have the jurisdiction to hear IP disputes. Although IP disputes are sometimes
primarily viewed as relating to the enforcement of intellectual property…

Institution partenaire

Université de Genève

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Français / 01/01/2016

A Simple Tags Categorization Framework Using Spatial Coverage to Discover Geospatial Semantics

There exist many popular crowdsourcing and social services (Volunteered Geographic Information (VGI)) to share information and documents such as Flickr, Foursquare, Twitter , Facebook, etc. They all use metadata, folksonomy and more importantly a geographic axis with GPS coordinates and/or geographic tags. Using this available folksonomy in VGI services we propose a logical approach…

Institution partenaire

Université de Genève

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English / 01/01/2016

Analysing smartphone users “inner-self”: the perception of intimacy and smartphone usage changes

Smart mobile services and applications use users' context. However, we never investigate how users perceive this context and how to leverage this perception for even smarter services. We represent the perception of the context of users as their intimacy, their familiarity with their current place, the number, and kind of people around them. The adjective ‘intimate'…

Institution partenaire

Université de Genève

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English / 01/01/2016

Analysis of 3d knee joint deformation using a multiscale modelling approach

The human knee joint is the largest and most complex joint of the human body. The interdependencies encountered in the musculoskeletal system are crucial in understanding musculoskeletal conditions. Patient-specific models are promising methods to unravel clinical diagnosis. However, as the range of medical and experimental data is expanding, it has become a challenge to integrate…

Institution partenaire

Université de Genève

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English / 01/01/2016

The value perspective in the analysis and design of service systems

The thesis proposes an interdisciplinary framework for service research in information systems that goes beyond the technological concerns and integrates the business concerns about service processes and models and the user's concerns about service usage and value. Based on this framework, the thesis analyzes further the concept of service value and suggests the value…

Institution partenaire

Université de Genève

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English / 01/01/2016

Efficient extraction of musculoskeletal structures from multi-channel MR images

We propose the extraction of musculoskeletal structures (bones, muscles) from the lower limb, following three main objectives: development of an MRI protocol, processing and labelling of the image data, and the exploitation of multi-channel data during the segmentation of individual muscles. We propose an MR acquisition protocol that generates seamless, high-resolution images of…

Institution partenaire

Université de Genève

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English / 01/01/2016

Collateralization, bank loan rates, and monitoring

We show that collateral plays an important role in the design of debt contracts, the provision of credit, and the incentives of lenders to monitor borrowers. Using a unique data set from a large bank containing timely assessments of collateral values, we find that the bank responded to a legal reform that exogenously reduced collateral values by increasing interest rates, tightening…

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English / 01/01/2016

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