Qu’est-ce qu’une agence de notation ?

768 vues

Partager

Les agences de notation (rating) sont des entreprises privées dont le rôle consiste à évaluer le risque de défaut ou risque de crédit d’un émetteur de titres de dettes (à court et/ou long terme). A la suite d’une analyse financière recontextualisée dans le moment et l’environnement, une note est donnée – comprise entre « AAA » et « D ».  

Cette note synthétise le risque de crédit à l’exclusion de tout autre, et est révisée régulièrement.  

Mots clés

Vidéos de la même institution

03:52
Antony, together with his colleagues from NEOMA, presents research conducted with the University of Bristol on how international companies choose countries for sourcing. The concept of "country risk," once focused on economic conditions and political stability, now includes three major sociopolitical factors: populism, which creates regulatory uncertainty; state fragility, which affects suppliers’ ability to deliver; and checks and balances, which can limit but not always prevent political drift. The study, covering 1,300 U.S. companies and their suppliers in 90 countries, shows that these factors directly influence sourcing decisions. Examples like Samsung and H&M illustrate this shift toward countries perceived as more stable. In conclusion, companies must strengthen their geopolitical monitoring to anticipate risks and secure their supply chains.
PAULRAJ Antony - NEOMA Business School |
03:46
Our research investigates how management interventions can facilitate user adaptation to new information technology across implementation stages and usage contexts. Drawing on the Coping Model of User Adaptation, we propose a 2×2 coping framework, showing that tailored interventions—such as training, user participation, feedback handling, and change fairness—differently shape users’ beliefs (perceived usefulness and ease of use) and coping mechanisms. Empirical studies in both mandatory (police officers) and voluntary (university students) settings confirm that communal coping dominates in mandatory contexts while individual coping prevails in voluntary ones. Pre-implementation beliefs strongly influence post-implementation perceptions, and deep usage significantly enhances user performance and satisfaction. The study offers theoretical insights into adaptive processes and practical guidance for managers aiming to improve IT implementation success.
YU Nadia-Yin - NEOMA Business School |
02:26
Le rapport FNEGE analyse l’impact des IA génératives dans l’enseignement supérieur en management. L’essor rapide d’outils comme ChatGPT et GPT-4 transforme l’apprentissage et le travail des étudiants, qui les adoptent en masse. Cette évolution pose des défis aux enseignants et institutions pour une intégration optimale. Il faut former à un usage responsable, tout en préservant esprit critique et rigueur scientifique. Le rapport propose un état des lieux et des pistes d’action face à ces enjeux.
GOUDEY Alain - NEOMA Business School |
04:02
15ème Prix académique de la recherche en management – Prix Syntec Conseil 2024 Professionals tend to strongly resist breaking from their professions’ core cultural tenets and it is unclear how some may voluntarily break from deeply ingrained views. Through our study of French anesthesiologists who practice hypnosis, we aim to better understand this little-explored phenomenon. Adopting hypnosis, a technique that many anesthesiologists consider subjective, contradicted a core tenet of their profession: the need to only use techniques validated by rigorous scientific-based research. Drawing on interviews and observations, we analyze how these anesthesiologists were able to change their views and reinvent their work. We find that turning inward to oneself (focusing on their own direct experiences of clients) and turning outward to clients (relying on relations with clients) played critical roles in anesthesiologists’ ability to shift their views and adopt hypnosis. Through this process, these anesthesiologists embarked on a voluntary internal transformation, or reboot, whereby they profoundly reassessed their work, onboarded people in adjacent professions to accept their own reinvention, and countered isolation from their peers.
BOURMAULT Nishani - NEOMA Business School |

Vidéos de la même thématique

Les conséquences économiques et financières du changement climatique sont de plus en plus importantes. Les variations de l’indice environnemental, social et de gouvernance (ESG) ont-elles un impact sur les marchés financiers, et lequel ? En quoi l’IA peut-elle améliorer la lecture et l’anticipation de ces impacts ?
PILLOT Julien - OMNES Education |
AWIJEN Haithem - OMNES Education |
BEN JABEUR Sami - FNEGE |
Le risque de change est le danger financier lié aux variations des taux entre devises, affectant entreprises, investisseurs et particuliers dans leurs transactions internationales. Il peut impacter les revenus, les investissements ou les remboursements de prêts selon l'évolution des monnaies. On distingue le risque de transaction, de conversion et économique. Sa gestion repose sur des mécanismes internes (facturation, netting) ou externes (contrats à terme, options), avec un équilibre à trouver entre coût et protection.
AJILI BEN YOUSSEF Wissem - EM Normandie |
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 |
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 |

S'abonner aux vidéos FNEGE MEDIAS