This issue of the Revue d'Economie Financière examines the price of risk, a central notion of finance, from three complementary angles. First, an analysis of its determinants, frequency, perception, aversion, and stability, followed by a price analysis of certain specific risks, such as the risk of dependency or cyber risks. A final section is devoted to the price of synthetic risks, which combine several elementary risks and represent a challenge for analysts.
This issue of the Revue d'Economie Financière examines funding issues for the territories by starting with the big stakes in their development. The first section relates this funding to European policies and refers to foreign experiences. The second and third sections take up in turn the methods and constraints of local government funding as well as the strategies of the main funding players, particularly the banks and the Caisse des Dépôts. Finally, the last section highlights the sectoral issues—health, mobility, real estate, and so on.
This issue of the Revue d’Économie Financière offers un analysis of the close relationship that exists between finance and taxation. It successively takes up three major aspects of this relation, beginning with the effects of taxation on the financial behavior of economic agents, on savings, and on financing and financial innovation. A second section centers on the debates after the financial crisis concerning the use of taxation to check risk-taking by the banking system, as well as the importance and role of fiscal paradises. Finally, the third section explores what adaptations fiscal systems must make in the face of the increased importance of economic agents and the digitization of business lines. In addition, it takes up the necessary collection of taxes in Africa.
This issue of the Revue d’Économie Financière offers an inventory of research on corporate governance and how it is evolving. Governance that responds to the demands of the various stakeholders in the company is replacing little by little governance centered on shareholder value. This issue takes up the purpose of governance and regulations, an analysis of shareholders and the various categories of shareholders, and the role and importance of governance mechanisms. A section is also devoted to the specificities of governance in the banking sector.
This issue of the Review of Financial Economics examines the interaction between finance and law. There are many examples of this, concerning aspects that are as different as the competition between major judicial systems within a globalized economy, the influence of the legal framework on how markets, issuers, and investors function, and the use of the law to favor the stability of the financial system. These points are taken up one after another in this issue and present a summary of the studies underway on this subject.
This issue of the Review of Financial Economy studies the nature of the relationship between finance and inequalities. Inequalities did indeed strongly increase after the financial crisis due to the steep rise in unemployment and to how prices of assets that make up individual wealth have evolved. The articles in this issue supply both an analytical basis for the relationship between finance and inequalities and empirical evaluations of the effects of the financial sector and its players on the increase in inequalities.