What’s the Risk ?

Management Dictionary
Corporate and Market Finance

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Risk in investing refers to the chance that actual returns may differ from expected ones, possibly leading to a loss of capital. High-risk investments often offer higher potential returns but are more volatile. Diversification is a key method for managing risk by spreading investments across different asset classes.

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Auteur.e(s)

SALLOUM Charbel
Professeur associé
EM Normandie

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02:40

What is social marketing?

Social marketing is an approach that leverages marketing techniques to encourage behaviors that have a positive impact on society. Unlike traditional marketing, which primarily aims to maximize sales, social marketing seeks to address issues such as public health, the environment, and human rights. It relies on a deep understanding of the needs and obstacles of the target audience, as well as strategic partnerships. For example, campaigns might encourage people to reduce their plastic consumption or engage in regular physical activity. To succeed, it's not just about communication; it's also about making desired behaviors more accessible, more appealing, and less expensive. By integrating these elements, social marketing contributes to improving collective well-being.

TRELOHAN Magali - |

Management Dictionary
Marketing, Sales and Communication

02:47

What are pro-environmental behaviors?

Pro-environmental behaviors refer to actions aimed at reducing human impact on the environment, whether individual (such as recycling or adopting eco-responsible consumption) or collective (advocating for climate policies). Historically linked to the environmental awareness of the 1970s, these behaviors are now crucial in the face of the climate emergency. However, they encounter psychological, economic, and practical obstacles. To encourage them, it is essential that public and private actors make these ecological actions more accessible and socially valued. These behaviors, while indispensable, must be integrated into collective and systemic initiatives for a sustainable transition.

TRELOHAN Magali - |

Management Dictionary
Marketing, Sales and Communication, Public Management, Sustainable Development and CSR

01:55

What is Strategic Renewal?

In times of crisis, SME entrepreneurs update and replace the firm’s resources and capabilities within strategic renewal processes in order to maintain organizational resilience. Appearing in the form of internal development and external sourcing, the outcomes of strategic renewal are explained by the synergy of individual, organizational, and environmental factors that reinforce SMEs’ dynamic capabilities. This research presents a qualitative comparative analysis (QCA) of the conjunctural causality between multi-level dynamic capability configurations and SME strategic renewal outcomes.

WANG Yihan - EM Normandie |

Management Dictionary
Strategic Management, Sustainable Development and CSR

02:53

What is the option in finance?

An option is the right to buy (call) or sell (put) an underlying asset at a predetermined expiration date and price, known as the strike price. The underlying asset can be a commodity, currency, interest rate, stock, or bond. The expiration date is the date on which the option is exercised. Options can be used as hedging tools or to speculate on whether the price of an underlying asset will rise or fall.

LEGROS Benjamin - EM Normandie |

Management Dictionary
Corporate and Market Finance

Vidéos de la même thématique

What is the Initial Coin Offering?

An Initial Coin Offering (ICO) is a modern fundraising method for start-ups, similar to crowdfunding but using digital tokens instead of traditional cash or rewards. Investors purchase these tokens, which they can later use to buy the product or resell for potential profit. ICOs provide entrepreneurs with a global financing opportunity while offering investors early access to innovative projects. Overall, ICOs connect entrepreneurship, finance, and blockchain technology, making them a revolutionary tool for start-up funding.

DELL’ERA Michele - EDC Business School |

Management Dictionary
Corporate and Market Finance, Entrepreneurship

Environmental Tax Policies in Emerging Markets: Does Confidence in Political Institutions Matter?

The goal of this study is to examine how environmental taxes influence the comparative advantage in environmental products and carbon emissions within emerging economies. To gain a better understanding, we examine whether this impact changes depending on the level of government integrity. The results indicate that increased environmental taxes mitigate the comparative advantage in environmental goods for emerging markets. However, for countries with high levels of government integrity, higher environmental taxes enhance their competitive edge in environmental goods. Additionally, our findings show that although a rise in environmental taxes is associated with higher carbon emissions, raising such taxes results in a reduction in carbon emissions for emerging economies with solid government integrity. These findings suggest that robust political institutions are crucial in promoting the comparative advantage of emerging markets in environmental goods and mitigating climate change. In the absence of substantial confidence in political or governmental institutions, the efficient implementation of climate taxes poses considerable challenges. Furthermore, we observe that an increase in the comparative advantage of environmental goods results in a decrease in carbon emissions.

KOCAARSLAN Baris - EDC Business School |

Research
Corporate and Market Finance

In Machine Learning We Trust: A Bankruptcy Prediction Application

Recently, ensemble-based machine learning models have been widely adopted and have demonstrated their effectiveness in bankruptcy prediction. However, these algorithms often function as black boxes, making it difficult to understand how they generate forecasts. This lack of transparency has led to growing interest in interpretability methods within artificial intelligence research. In this paper, we assess the predictive performance of Random Forest, LightGBM, XGBoost, and NGBoost (Natural Gradient Boosting for probabilistic prediction) on French firms across various industries, with a forecasting horizon of one to five years. We then apply Shapley Additive Explanations (SHAP), a model-agnostic interpretability technique, to explain XGBoost, one of the best-performing models in our study. SHAP highlights the contribution of each feature to the model’s predictions, enabling a clearer understanding of how financial and macroeconomic factors influence bankruptcy risk. Moreover, it allows for the explanation of individual predictions, making black-box models more applicable in credit risk management.

NGUYEN Hoang Hiep - EM Normandie |

Research
Corporate and Market Finance

Algorithmic trading, what if it is just an illusion?

We experimentally investigate whether and how the potential presence of algorithmic trading (AT) in human-only asset markets can influence humans’ price forecasts, trading activities and price dynamics. Two trading strategies commonly employed by high-frequency traders, spoofing (SP) – associated with market manipulation – and market making (MM) – seen as liquidity provision – are considered.

JACOB-LEAL Sandrine - FNEGE |

Research
Corporate and Market Finance

Corporate and Market Finance

What’s the Risk ?

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