IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this paper

Crises financières : rôle de l'information et mimétisme légal

  • Aldo Levy

    ()

    (GREG - CRC - Groupe de recherche en économie et en gestion - Centre de recherche en comptabilité - Conservatoire National des Arts et Métiers [CNAM])

  • Larry Bensimhon

    ()

    (GREG - CRC - Groupe de recherche en économie et en gestion - Centre de recherche en comptabilité - Conservatoire National des Arts et Métiers [CNAM])

Registered author(s):

    Several phenomena are at the origin of the stock exchange crises and the mimetic aspect of the behaviours of the investors would prevail on the fundamental analysis of the values. In this direction, the interpretation of information seems to play a central role in these particular events. One of the innovations of the current crisis is related to a world legislative alignment of financial accountancies. Standards IAS-IFRS would have had procyclic effects generated by a "legal herd behaviored". Fair Value [Chatelain and Levy 2007] and the pricing of the financial instruments, appeared to be one of the principal sources of the crisis.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: https://halshs.archives-ouvertes.fr/halshs-00593988/document
    Download Restriction: no

    Paper provided by HAL in its series Post-Print with number halshs-00593988.

    as
    in new window

    Length:
    Date of creation: 31 Dec 2009
    Date of revision:
    Publication status: Published in Gestion 2000, Recherches et Publications en Management A.S.B.L., 2009, pp.65-78
    Handle: RePEc:hal:journl:halshs-00593988
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00593988
    Contact details of provider: Web page: https://hal.archives-ouvertes.fr/

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

    as in new window
    1. Sushil Bikhchandani & Sunil Sharma, 2001. "Herd Behavior in Financial Markets," IMF Staff Papers, Palgrave Macmillan, vol. 47(3), pages 1.
    2. Blanchard, Olivier Jean, 1979. "Speculative bubbles, crashes and rational expectations," Economics Letters, Elsevier, vol. 3(4), pages 387-389.
    3. Meltzer, Allan H., 1976. "Monetary and other explanations of the start of the great depression," Journal of Monetary Economics, Elsevier, vol. 2(4), pages 455-471, November.
    4. V. V. Chari & Patrick J. Kehoe, 2003. "Financial crises as herds: overturning the critiques," Staff Report 316, Federal Reserve Bank of Minneapolis.
    5. Sushil Bikhchandani & David Hirshleifer & Ivo Welch, 1998. "Learning from the Behavior of Others: Conformity, Fads, and Informational Cascades," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 151-170, Summer.
    6. J. Bradford De Long & Andrei Shleifer & Lawrence H. Summers & Robert J. Waldmann, . "Noise Trader Risk in Financial Markets," J. Bradford De Long's Working Papers _124, University of California at Berkeley, Economics Department.
    7. Robert J. Shiller, 1987. "Investor Behavior in the October 1987 Stock Market Crash: Survey Evidence," NBER Working Papers 2446, National Bureau of Economic Research, Inc.
    8. Rudiger Dornbusch & Stanley Fischer, 1984. "The Open Economy: Implications for Monetary and Fiscal Policy," NBER Working Papers 1422, National Bureau of Economic Research, Inc.
    9. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
    10. Mark Rubinstein., 2000. "Rational Markets: Yes or No? The Affirmative Case," Research Program in Finance Working Papers RPF-294, University of California at Berkeley.
    11. Garber, Peter M, 1990. "Famous First Bubbles," Journal of Economic Perspectives, American Economic Association, vol. 4(2), pages 35-54, Spring.
    12. Harrison Hong & Jeremy C. Stein, 2003. "Differences of Opinion, Short-Sales Constraints, and Market Crashes," Review of Financial Studies, Society for Financial Studies, vol. 16(2), pages 487-525.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:hal:journl:halshs-00593988. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.