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Firm inflexibility and the implied cost of equity

Samir SAADI, Omrane Guedhami, Zhengwei Fu, Sadok El Ghoul

Using a large dataset of manufacturing firms from 65 countries, we examine whether and how firm inflexibility influences implied cost of equity over the period 1989–2018. We find that, on average, a firm with higher level of inflexibility have a higher implied cost of equity.

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The European Central Bank and green finance: How would the green quantitative easing affect the investors' behavior during times of crisis?

Khaled GUESMI, Donia Aloui, Ramzi Benkraiem, Samuel Vigne

In July 2021, the European central bank (ECB) announced the application of new environmental criteria to purchase private assets as part of its Quantitative Easing (QE) program.

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“Home Office is The Here and Now” Digital Nomad Visa Systems and Remote Work-Focused Leisure Policies


To attract highly qualified remote workers to their cities and countries, governments have implemented mechanisms for the stay of digital nomads, thereby promoting local economic development.

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Bank lending margins in a negative interest rate environment

Whelsy BOUNGOU, Charles MAWUSI

Following the 2008 Global Financial Crisis, the central banks of many advanced economies resorted to unconventional monetary policies including, the adoption of a negative interest rate policy, aimed at spurring economic recovery and growth.

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Democracy and Intra-Africa Trade

Whelsy BOUNGOU, Francis OSEI-TUTU, Amara ZONGO

Despite numerous efforts by policymakers, trade among African countries remain abysmal. In this paper, we investigate whether democracy affects intra-Africa trade of goods.

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The Impact of COVID-19 on Bank Profitability: Cross-Country Evidence


Using data from 5474 banks located in 23 OECD countries over the period 2019Q2-2022Q1, we study the influence of COVID-19 on bank profitability (before and during the COVID-19 vaccination period).

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Beyond the shallows of physical attractiveness: Perfection and objectifying gaze on Instagram

Karina SOKOLOVA, Hajer Kefi, Vincent Dutot
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Climate Change and Global Stock Market Returns

Whelsy BOUNGOU, Alhonita Yatié

To the question of whether global stock market indices are sensitive to climate change, the answer is “Yes”.

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Does green technology innovation matter to the cost of equity capital?

Hatem RJIBA, Khaled Elmawazini, Imed Chkir, Fatma Mrad

Using a panel of U.S. public firms, we present the first evidence highlighting the relation between green technology innovation and cost of equity capital. Consistent with our prediction, we find that greater green technology innovation is associated with lower cost of equity capital.