bluuebunny/crossref_metadata_2025_split huggingface dataset:
La banque à distance se suffit-elle à elle-même ?
Authors: Geiben Didier 
Published: April 2013

Cette question replacée dans le contexte français bancaire des trois dernières années et de l'explosion de la bulle Internet, semble conduire inexorablement à une conclusion négative. Les grandes banques de détail ayant dans le même temps réussi à bien intégrer les nouveaux canaux technologiques de la banque à distance dans leur stratégie de service, il est devenu dès lors politiquement correct d'adhérer à la pensée unique de la nécessaire complémentarité des canaux, le fameux click & mortar et le « Multicanal ».
Une certaine forme de banque sans réseau d'agences pourrait-elle, et à quel horizon, répondre aux objectifs de ses actionnaires et aux attentes de ses clients ? Le réseau d'agences restera-t-il enfin un maillon essentiel de la distribution de services bancaires ?
De quelle forme de banque parle-t-on ? C'est à ces questions que tente de répondre cet article.
Classification JEL : G21, 033
Systèmes et instruments de paiement en ligne : quelles problématiques ? Quels types de solutions ?
Authors: Dragon Claude , Susbielle Jean-François 
Published: April 2013

Internet financial payments and transactions
Over 30 % of Internet users in Europe buy today on the network. This impressive success relies on the development of confidence and the availability of well-adapted solutions. The security of transactions, and the guaranty of due completion are supporting this confidence, while ease of use and universality of payment schemes are the necessary steps toward their broad acceptance. On the payment scene, the bank card is still the trusted solution, even though it is not really suited for distant payment due to the lack of signature. On the other hand, many intermediaries are trying to catch a slice of the customer's relation by offering virtual wallet server and accounts that enable to sign the transaction and make P-to-P payments. Among those are W-HA at Wanadoo or Paypal at eBay. The mobile phone is itself a serious candidate to become the payment terminal of the future.
JEL classification : G2, 033
L’économie de la sécurité des paiements en ligne
Authors: Goldfinger Charles 
Published: April 2013

On line payments' security
Electronics trade developed successfully although on line payments' security is an important problem. Most of projects and initiatives of on line payments have failed. This article tries to explain these paradox.
It deals with specific features of on line payments' security compared with « standard » systems. The author tries to understand the functioning of on line payments' systems and their low success rate. He analyses consumers and operators' behaviours
vis-à-vis the economics of security, especially the consumers' reluctance to pay the cost. At last, he presents challenges that security lays to operators and regulators.
JEL classification : G2, K39, 033
La sécurité des paiements, une notion polymorphe en univers global
Authors: Combe Caroline 
Published: April 2013

Cet article tente de faire le point sur la notion juridique de «sécurité des paiements », tout d'abord en rappelant que cette notion a émergé avec le développement des échanges, en particulier internationaux, puis en analysant le cadre juridique sur lequel elle repose, notamment dans le cadre des paiements en ligne. L'auteur en propose ainsi une définition simple englobant aussi bien des problématiques autour des paiements en univers transnational que celles issues de la dématérialisation de ces flux. Il s'agirait donc d'une « garantie apportée à la bonne fin d'un échange financier quelles que soient ses destinations et contreparties » c'est-à-dire quel que soit, d'une part, son initiateur, son destinataire que, d'autre part, son usage : que ce soit en contrepartie d'un échange de bien, que d'un investissement ou simplement pour financer quelques interventions de nature purement spéculative.
Classification JEL : G2, K39, 033
Un plan d’action pour Paris, place électronique européenne
Authors: Mentré Paul 
Published: April 2013

Paris, a European financial E-centre
Paris Europlace co-ordinates a working group to expand the activities of Paris as a European financial E-centre. This article presents the main conclusions of this action plan. It deals with the recent technologic changes, the actors of e-finance and the initiatives to develop.
Classification JEL : G15, 033
Les conséquences prudentielles de l’Internet bancaire et financier
Authors: Duchateau Alain 
Published: April 2013

The Prudential consequences of on-line banking and financial activities
The rapid development of banking and financial services on the Internet has created opportunities for financial institutions and for their customers, but also uncertainties. The Banque de France and the Commission bancaire (French regulators) presented in December 2000 banking and finance professionals, a set of best practices (gathered in a manual called « Livre blanc ») for internal control, the fight against money laundering, and security, intended for use by the banking professionals and by new entrants. This « Livre blanc » also contains proposals to further enhance the security of banking and financial transactions over the Internet, including the definition of a security benchmark within the French Banking Organisation and Standardisation Committee. It proposes solutions to the prudential problems arising from the cross-border nature of on-line activity.
JEL classification : G28, 033, K22
Internet et la régulation des marchés financiers
Authors: Prada Michel 
Published: April 2013

Internet and the financial markets regulation
The development of data processing technologies and the world wide web (Internet) has been largely spread in France. This evolution concerns the regulator with new and quite complex issues. The Internet presents opportunities to investors because it improves the offer of financial services, multiplies access to financial information from issuers or from the market itself and easies the COB's mission concerning the protection of investors' saving. Nevertheless, Internet leads to stronger risks for investors, as the development of the offer goes with abuses or frauds, which are difficult to detect. As a consequence, the COB oversees with a particular attention the uses of Internet by various market actors, but at the same time makes the best of the web which may, finally, appear as an efficient tool at disposal for the regulator.
JEL classification : G28, 033
The role of fair value in accounting for financial instruments
Authors: Tweedie David 
Published: April 2013

Under International Financial Reporting Standards (IFRS), as under all other main accounting regimes used around the world, most assets and liabilities are not presently measured at fair value. IFRS contains two notable exceptions : - for property plant and equipment and certain intangible assets, measurement at fair value is permitted (though not required).
- for some financial instruments, measurement at fair value is required. In addition, the IASB has recently proposed that any financial instrument not required to be measured at fair value be permitted to be measured at fair value at the entity's option.
It is the second of these categories that this article will focus on. These are the items that are most often suggested as candidates for measurement at fair value. It has also been suggested that much of the complexity of the present system of accounting for financial instruments could be removed if ail financial instruments were to be measured at fair value.
JEL classifications : G14, M41
Fair value accounting : an overworked issue over the past fifteen years
Authors: Ricol René , Bonnet-Bernard Sonia 
Published: April 2013

Fair value accounting is a contested issue, criticised by many as artificially creating volatility and amplifying market inconsistencies, and lauded by others as being the only way of accounting for the full reality of a company's situation, including its off-balance sheet items and financial instruments. This article deals with the fair value definition, the role of financial instruments and its impacts on market volatility. It aims to afford renewed credibility to their use, by improving the transparency of financial information by applying uniform rules governing how they are valued and accounted for.
JEL classifications : G14, M41
Business combinations and fair value
Authors: Thouvenin Dominique 
Published: April 2013

Historically two methods were accepted to account for business combinations : pooling and purchase method. In the pooling, the carrying values of assets and liabilities remain unchanged and no goodwill is recognized. The purchase method is consistent with the historical cost model even if the assets and liabilities acquired are measured at fair value : the acquired entity is measured at its cost. Such cost is allocated to assets and liabilities on the basis of their fair values, any residual amount being recognized as goodwill.
The two methods produce quite different results and have a major impact on subsequent balance sheet and performance. So, standard setters have decided to eliminate pooling.
Recently, FASB and IASB have started a joint project to move the purchase method from the historical cost model to the fair value model. Such project will have to be carefully analyzed to evaluate benefits for the users and complexities and disadvantages for the preparers.
JEL classifications : G34, M41
Impact of the new International Accounting Standards on the financial statements
Authors: Aubin Christian , Gil Gérard 
Published: April 2013

The new accounting principles adopted by the IASB will lead to the introduction of increased volatility in the profit and loss account and in the shareholder's equity of banks. The presentation of the net result and of the variations in equity not coming from shareholders' operations in the same profit and loss schedule will also increase this phenomena and will reduce the visibility in terms of understanding the performance of the various activities of the enterprise. This evolution will not enhance the comparability between the financial statements of banks nor the pertinence of the financial information. The principles adopted regarding the valuation of financial instruments are to the detriment of the stability of the results and the principle of prudence, favouring instantaneous valuation without improving the conditions for neither financial information preparation nor the quality of such information. These principles will in no doubt have an influence on how banks manage their interest rate exposure leading to a process of reduction of risks.
JEL classifications : G21, M41
The macroeconomic impact of IAS
Authors: Flandrin-Le Maire Gwénaëlle 
Published: April 2013

This paper deals with the main advantages and disadvantages of using the fair value method to value assets and liabilities and the potential macroeconomic impact of the application of the IAS standards to financial institutions. Although valuation at historical cost does not of course provide all of the information necessary to assess risk exposure, there are some major drawbacks to the comprehensive application of fair value accounting. This change in accounting procedures will affect the measurement of bank earnings and capital and will also impact prudential ratios. On the macroeconomic level, indiscriminate application of the fair value principle risks increasing the volatility of earnings and capital in the banking industry. This would decrease financial security, which would be contrary to the objective of accounting standard setters. Its application could amplify credit cycles and could also transfer interest-rate risk to non-financial economic agents and possibly even reduce the total volume of lending.
JEL classifications : G14, G21, M41
Fair value accounting : what are implications for monetary and financial stability?
Authors: Mouriaux François 
Published: April 2013

The current debate on the macroeconomic implications of the fair value accounting method emphasises the financial sector as an essential player in the allocation of financial resources. This article discusses the impact of this accounting method on monetary policy and financial stability, with a special emphasis on the non-financial sector. It covers four points : the effect of the fair value accounting method on monetary policy transmission channels, as well as on the quality of credit risk analysis, management prudence, and the effectiveness of corporate governance,
JEL classifications : E4, E44, G14, G3, M4
Fair value accounting : Regulators point of view
Authors: Mathérat Sylvie 
Published: April 2013

The European Commission's decision to require the use of IAS for the preparation of the consolidated financial statements of listed companies is motivated by the desire to improve the comparability of financial statements and to achieve a level playing field. However, it raises a number of issues of principle, and some major practical difficulties. Looking beyond technical implementation issues, central bankers and regulators are faced with two crucial questions :
- Are the standards sufficiently prudent in today's climate of economic uncertainty and mistrust of the markets, and will they address the shortcomings that have recently been revealed ?
- Is there not a risk of the standards introducing artificial volatility into financial statements, impairing a proper understanding of the true position of economic agents and likely to have an impact on prudential ratios ?
This article looks at the main changes proposed by the IASB in the light of these two questions and tries to identify the prudential consequences of these modifications.
JEL classifications : G14, G28, M41
On fair value : are accountants over-ambitious?
Authors: Danjou Philippe 
Published: April 2013

When publicly traded European companies finally adopt International Financial Reporting Standards (IFRS) at the start of 2005, there will surely be many benefits for investors. But it will also create numerous problems, and the complexity of the task should not be underestimated. The first set of problems is inherent to all large-scale changes. Information systems need time to adapt ; staff at all levels have to be trained ; financial reporting practices must be reviewed ; and loan agreements with financial institutions have to be amended to take account of contingency clauses. In all probability, accounting based measurements of business performance will be modified by the introduction of new standards and may become dissociated from the performance measurement methods used by company managers and their staff. The purpose of this article is to examine some of the changes that are under way or pending and to highlight the foreseeable consequences.
JEL classifications : M41
De nouveaux risques après le 11 septembre 2001 ?
Authors: Lamère Jean-Marc 
Published: April 2013

Le coût des attentats du 11 septembre 2001 est estimé à environ 40 Md$ pour les seuls risques assurés. Cette catastrophe sans précédent soulève non seulement des questions fondamentales de politique, mais aussi des interrogations sur les capacités et les mécanismes de mutualisation des risques. Cet événement dramatique a révélé une dimension nouvelle du terrorisme international, de sorte qu'il est presque impossible de couvrir ce risque selon les voies commerciales standards. L'intensité des conséquences associées à l'hyper-terrorisme, qui contribue à replacer le risque au centre des débats de société, exige désormais des solutions reposant davantage sur une solidarité de place avec le soutien de l'État dans un rôle de réassureur de dernier ressort.
Classification JEL : G15, G22
Vers une prévention macro-prudentielle des crises financières internationales
Authors: Cartapanis André 
Published: April 2013

Macro-prudential prevention of international financial crises
The new international financial structure tries to modernise emergent financial markers and to reinforce prevention and management's tools of international crises. Crises' prevention isn't restricted to macroeconomic supervision if speculative attacks correspond to financial runs and vulnerability of intenational financial structure : importance of foreign short term finance, concentration of international banking creditors, conversion of high termination date, high volatility of collateral, increasing correlation of asset prices on emergent markets... So prevention macro-prudential policies become interesting to introduce incentives or rules improving systemic risk management.
JEL classification : E44, F33, G15
Globalisation et architecture financière, une perspective américaine après le 11 septembre
Authors: Mistral Jacques 
Published: April 2013

Le présent article traite des débats menés sur le thème de la gouvernance financière internationale aux États-Unis en 2002 et analyse les prises de position de ce pays sous l'Administration Bush. L'article commence par évoquer le débat sur la globalisation proprement dite. Il montre ensuite que les dossiers économiques sont, aux États-Unis, une composante de la politique internationale, cette dernière étant aujourd'hui tout entière engagée dans la guerre contre le terrorisme et les « États voyous » ; cette politique peur être qualifiée de « multilatéralisme instrumental », une expression mieux adaptée que celle d'unilatéralisme d'usage courant. L'auteur applique cette grille de lecture à deux sujets : l'aide au développement et les crises financières.
Classification JEL : E44, F35, G15
Impact des interruptions de cotation sur la microstructure du marché boursier français
Authors: Michalon Karine 
Published: April 2013

Les interruptions de cotation réglementées d'Euronext Paris et de toutes les autres places boursières ont pour but de réduire les asymétries d'information et la volatilité et de permettre l'émergence d'un consensus. L'usage de ces interruptions est très fréquent sur le marché boursier français des valeurs qui composent le CAC 40, le SBF 120 et le SBF 250 : on constate en moyenne plus de 7 interruptions par séance. La fréquence est d'autant plus élevée que les valeurs ont de faibles capitalisations boursières. Pourtant notre étude empirique fait ressortir une inefficacité des réservations de cotation. En effet, la volatilité des cours est plus élevée après réservation.
Classification JEL : C2, G1
La comptabilité en « juste valeur » permet-elle une meilleure représentation de l’entreprise ?
Authors: Casta Jean-François 
Published: April 2013

Cet article s'interroge sur l'utilité d'une mesure de la richesse et du revenu de l'entreprise fondée sur la juste valeur. La question « l'évaluation à la juste valeur est-elle pertinente ? » peut s'analyser ainsi : les « nombres comptables » reposant sur la juste valeur donnent-ils une meilleure estimation de la valeur de l'entreprise et du risque d'activité ? Quel est leur contenu informatif pour les utilisateurs ? Quelle est l'utilité de l'information en juste valeur pour la prise de décision ? Cet article tente de répondre à ces questions en examinant les fondements et les limites du modèle comptable traditionnel ; en analysant ensuite les déterminants et le processus d'émergence de la juste valeur au regard du rôle assigné aux états financiers et des besoins des utilisateurs ; en présentant enfin une synthèse des travaux empiriques relatifs à l'évaluation de l'utilité de l'information comptable en juste valeur.
Classification JEL : G14, M41
Le rôle de la juste valeur dans la comptabilisation des instruments financiers
Authors: Tweedie David 
Published: April 2013

The role of fair value in accounting for financial instruments
Under International Financial Reporting Standards (IFRS), as under all other main accounting regimes used around the world, most assets and liabilities are not presently measured at fair value. IFRS contains two notable exceptions : - for property plant and equipment and certain intangible assets, measurement at fair value is permitted (though not required).
- for some financial instruments, measurement at fair value is required. In addition, the JASB has recently proposed that any financial instrument not required to be measured at fair value be permitted to be measured at fair value at the entity's option.
It is the second of these categories that this article will focus on. These are the items that are most often suggested as candidates for measurement at fair value. It has also been suggested that much of the complexity of the present system of accounting for financial instruments could be removed if all financial instruments were to be measured at fair value.
JEL classifications : G14, M41
JEI classifications : G 14, M41
Regroupements d’entreprises et juste valeur
Authors: Thouvenin Dominique 
Published: April 2013

Historiquement deux méthodes de comptabilisation des regroupements étaient possibles : le pooling et l'acquisition. Dans le pooling, les valeurs comptables des actifs et des passifs sont conservées et aucun
goodwill n'est comptabilisé. La méthode de l'acquisition s'inscrit dans le modèle du coût historique même si les actifs et passifs acquis sont comptabilisés à leur juste valeur : l'entité acquise est comptabilisée à son coût. Ce coût est réparti entre les actifs et les passifs sur la base de leur juste valeur, le solde étant comptabilisé en goodwill.
Ces deux méthodes ont des impacts significatifs et différents sur les bilans et les performances. Les normalisateurs ont donc décidé la suppression du pooling.
Par ailleurs, le FASB et l'IASB ont entrepris de faire évoluer la méthode de l'acquisition du coût historique vers la juste valeur. Il conviendra d'analyser ce projet pour évaluer les avantages pour les utilisateurs et les complexités ou les inconvénients pour les préparateurs.
Classification JEL : G34, M41
La comptabilisation en « juste valeur » et les métiers de l’assurance
Authors: de La Martinière Gérard , Trainar Philippe 
Published: April 2013

Fair value accounting standards and insurance business
Two principal critics can be addressed to traditional accounting standards :
- they aren't internationally standardized ;
- they are based on the historical cost model conceived at the end of industrial revolution for closed economy. This article examines how new accounting standards correspond to insurance business needs, what are specific needs of insurance regarding accounting, if fair value accounting is suited to these specificities and issues implied by the IAS 39.
JEL classifications : G22, M41
Dette subordonnée, discipline de marché et réforme réglementaire
Authors: Pop Adrian 
Published: April 2013

Les propositions de réforme de la réglementation bancaire incluent des éléments de discipline de marché qui complètent naturellement les instruments traditionnels. Une politique par laquelle les grandes banques sont obligées d'émettre régulièrement un montant minimum de dette subordonnée peut s'avérer efficace pour réduire les problèmes engendrés par l'aléa moral. Cette proposition vise à créer une classe distincte d'investisseurs dont les incitations viennent s'aligner sur celles des autorités de régulation et qui surveillent, analysent et finalement disciplinent les comportements risqués des institutions bancaires. Des tâches, accomplies jusqu'à présent prioritairement par les autorités de tutelle, pourront être partagées avec les acteurs privés du marché et, par conséquent, le coût de la réglementation est susceptible de diminuer. L'objet de cet article est d'étudier la pertinence d'une telle politique, les modalités pour l'intégrer dans le dispositif réglementaire déjà en place et son architecture optimale.
Classification JEL : G21, G28