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    • Dora Triki
    • Article classé
    • Transitions sociétales et comportements émergents
    • Forthcoming

    Host country factors and international joint venture survival in the Middle East and North Africa

    Abstract

    The purpose of this article is to analyze the influence of three host country-specific variables (political risk, cultural distance, level of economic development) on international joint venture (IJV) survival in the Middle East and North Africa (MENA) region. The authors compiled a database of 124 IJVs established in MENA countries. The findings demonstrate that cultural distance and the level of economic development have an impact on IJV survival whereas political risk does not seem to affect IJV sustainability in this region. The study contributes to the debate about the role of host country factors for IJV survival, indicating that these factors may vary across geographic regions.

    • Co-auteur(s) Moalla E., Mayrhofer U.
    • Revue(s) European Journal of International Management - FNEGE Rang 4, CNRS Rang 4, HCERES Rang C
    • Olfa Kaabia
    • Article classé
    • Risque, prévisions et évaluations en univers complexe
    • Forthcoming

    Financial Development and Energy Consumption: Is the MENA Region Different?

    Abstract

    This paper examines the relationship between financial development and energy consumption estimations in the major MENA countries (Algeria, Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi, Arabia, Syria, Tunisia, United Arab Emirates and Yemen) over the period 1996 to 2014. We consider the energy use in kg of oil equivalent per capita as a dependent variable that reflects the cross-country energy consumption. We measure the level of financial development in the MENA countries by considering banking indicators. Our study differs from past ones in that we investigate the determinants of energy demand considering the heterogeneity, nonlinearity and asymmetry. We extend the model of Sadorsky (2011) by estimating both linear and non-linear dynamic panel process. Our results show a positive and statistically significant relationship between the intermediation capacity of the banking system as well as its size and energy consumption. However, this relationship is non-monotonous. Above a critical threshold, the effect of financial development on energy consumption becomes negative. It seems that financial development only promotes energy demand to a certain extent because of its non-linear inverted U-shaped impact on GDP.
    Keywords: Energy consumption, Financial Development, MENA Region, Dynamic panel

    • Co-auteur(s) GAIES, O., AYADI, R., GUESMI, K., ABID, I.
    • Revue(s) Energy Policy
    • Classement(s) CNRS 2
    • Eric Le fur
    • Article classé
    • Risque, prévisions et évaluations en univers complexe
    • Forthcoming

    Volatility transmission to the fine wine market

    Abstract

    The goal of this paper is to explore volatility transmission from various markets to the fine wine market. Knowledge of these channels for transmitting volatility to the wine market allows practitioners to anticipate the future volatility and the consequences of a shock on the wine market, to develop their investment strategy and diversify their risk. We especially analyse the impact of U.S. markets (i.e. art, commodities, credit, financial and real estate) during the 2007–2017 period. We shed additional light on how the volatility of the fine wine market varies during an extended period including a financial crisis. Our results indicate that, in the short-term, volatility is transmitted with a negative effect through the financial and commodity markets and with a positive effect through the art, residential real estate, and credit default markets. In the long-term, the wine market is impacted by all other markets. We show that correlations are time-varying.

    • Co-auteur(s) Ben Ameur H.
    • Revue(s) Economic Modelling
    • Classement(s) CNRS Rang 2
    • Eric Le fur
    • Article non-classé
    • Risque, prévisions et évaluations en univers complexe
    • Forthcoming

    The price of cider: empirical analysis in Québec province

    Abstract

    The purpose of this paper is to investigate the main factors and mechanisms that govern the price of cider, and to apply the analysis to the price of ciders in the Province of Québec, Canada. The analysis is following the methodology applied to the determinants of the price of wine. A model for the price of cider is estimated with 70 prices representing five regions and five types of products. The analysis is limited to one geographical factor, i.e. the region of origin and factors related to the producer, i.e. the age and the size of the firm. The results conclude on the importance of geographical factors related to the region of origin. The relationship between the price of ciders and the region of origin is statistically significant at the 1 percent level for two regions and shows a high premium for ciders produced in these two regions. Production factors related to the age and the size of the production unit although showing the expected sign are not statistically significant to conclude on the impact. There is a small premium for producing effervescent cider compared to still or rosé cider but the most statistically significant results at a 1 percent level are for ice ciders and fortified ciders which are two typical products from Québec. The analysis has important potential implications on the role of certification of origin. Cider regions in Québec, Canada have recently defined quality standards applied to specialties like Ice cider and Fire ciders. The choice of high quality products is reflected in the premium associated to the price of these products. Contrary to the wine sector, there is a lack of research and literature on the determinants of the price of ciders. This study is the first to propose a pricing model to examine some of the determinants of prices.

    • Co-auteur(s) OUTREVILLE J.F.
    • Revue(s) British Food Journal