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    Stratégies d'émission d'obligations vertes

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    This thesis examines the effectiveness and credibility of the green bond market in the context of the transition to a sustainable economy. Green bonds, although backed by general financial market standards, also fall within specific voluntary frameworks, including the ICMA's Green Bond Principles (GBP), the Climate Bonds Initiative (CBI) standards, and the European green bond standards, which were introduced in 2024. While these mechanisms all aim to enhance market transparency and integrity, their coexistence raises questions of harmonisation, while their voluntary nature poses credibility issues.The thesis is structured around three chapters, which combine theoretical analysis, economic modeling, and empirical methods.The first chapter examines the constraints of a voluntary disclosure system in a situation of information asymmetry. Using a sequential equilibrium game theory model, we show that the lack of a binding and verifiable regulatory framework exacerbates uncertainty about the sincerity of environmental promises, thereby reducing investor confidence. This institutional deficiency is a key factor in increasing the risk of greenwashing. To improve the situation, two measures are suggested: an improved disclosure framework and the introduction of guarantee mechanisms.The second chapter assesses the impact of extra-financial information (ESG) on the liquidity of green bonds. Using machine learning techniques, we determine the key factors affecting liquidity. The results show that bonds labeled and aligned with the Climate Bonds Initiative criteria have no significant effect on liquidity, while self-labeled bonds are characterized by lower liquidity. This observation suggests that rigorous environmental compliance alone is not enough to influence the market. Therefore, institutional recognition of a label is essential to strengthen investor confidence and ensure the ecological legitimacy of financial instruments.The third chapter examines the relationship between economic and geopolitical uncertainty and green bond yields. The DCC-MIDAS model reveals not only average volatility, but also the ability of these green assets to provide diversification and safe-haven characteristics to investors, especially in times of crisis.In summary, this research contributes to a better understanding of the dynamics of information and regulation in the green bond market. It offers concrete recommendations to strengthen its effectiveness, stability, and credibility, with a view to making it a real lever for financing the ecological transition.Cette thèse porte sur l'efficacité et la crédibilité du marché des obligations vertes dans un contexte de transition vers une économie durable. Les obligations vertes, bien qu'adossées aux normes générales des marchés financiers, s'inscrivent également dans des cadres volontaires spécifiques, parmi lesquels figurent les Green Bond Principles (GBP) de l'ICMA, les standards de la Climate Bonds Initiative (CBI) et les normes européennes sur les obligations vertes, mises en place en 2024. Si ces dispositifs visent tous à renforcer la transparence et l'intégrité du marché, leur coexistence soulève des questions d'harmonisation, tandis que leur caractère volontaire pose des enjeux de crédibilité.La thèse s'articule autour de trois chapitres, qui combinent analyses théoriques, modélisations économiques et méthodes empiriques.Le premier chapitre examine les contraintes d'un système de divulgation volontaire dans une situation d'asymétrie d'information. En utilisant un modèle de théorie des jeux fondé sur l'équilibre séquentiel, nous montrons que le manque d'un cadre réglementaire contraignant et vérifiable exacerbe l'incertitude quant à la sincérité de la promesse environnementale, ce qui diminue la confiance des investisseurs. Cette carence institutionnelle est un facteur clé de l'augmentation du risque de greenwashing. Pour améliorer la situation, deux mesures sont suggérées : un cadre de divulgation amélioré et l'instauration de mécanismes de garantie.Le deuxième chapitre évalue l'impact des informations extra-financières (ESG) sur la liquidité des obligations vertes. En utilisant des techniques d'apprentissage automatique, nous déterminons les facteurs essentiels de la liquidité. Les résultats montrent que les obligations labellisées et alignées aux critères de la Climate Bonds Initiative ne présentent pas d'effet significatif sur la liquidité, tandis que les obligations auto-labellisées se distinguent par un niveau de liquidité inférieur. Cette observation suggère que seule la conformité environnementale rigoureuse ne suffit pas à influencer le marché. Dès lors, la reconnaissance institutionnelle d'un label s'avère essentielle pour renforcer la confiance des investisseurs et assurer la légitimité écologique des instruments financiers.Le troisième chapitre étudie les relations existantes entre les effets des incertitudes économiques et géopolitiques et les rendements des obligations vertes. Le modèle DCC-MIDAS révèle non seulement une volatilité moyenne, mais aussi la capacité de ces actifs verts à fournir des caractéristiques de diversification et de refuge aux investisseurs, surtout en temps de crise.En somme, cette recherche contribue à une meilleure compréhension des dynamiques d'information et de régulation sur le marché des obligations vertes. Elle propose des recommandations concrètes pour renforcer son efficacité, sa stabilité et sa crédibilité, en vue d'en faire un véritable levier de financement pour la transition écologique

    Going Beyond Counting First Authors in Author Co-citation Analysis

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    The present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed

    Variations on the Author

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    “Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship

    Appropriate Similarity Measures for Author Cocitation Analysis

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    We provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis

    Dispelling the Myths Behind First-author Citation Counts

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    We conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more sophisticated methods

    Author Index

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    koamabayili/VECTRON-author-checklist: VECTRON author checklist

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    We have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used

    Author Under Sail The Imagination of Jack London, 1893-1902

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    In Author Under Sail, Jay Williams offers the first complete literary biography of Jack London as a professional writer engaged in the labor of writing. It examines the authorial imagination in London's work, the use of imagination in both his fiction and nonfiction, and the ways he defined imagination in the creative process in his business dealings with his publishers, editors, and agents. In this first volume of a two-volume biography, Williams traverses the years 1893 to 1902, from London's "Story of a Typhoon" to The People of the Abyss. The Jack London who emerges in the pages of Author Under Sail is a writer whose partnership with publishers, most notably his productive alliance with George Brett of Macmillan, was one of the most formative in American literary history. London pioneered many author models during the heyday of realism and naturalism, blurring the boundaries of these popular genres by focusing on absorption and theatricality and the representation of the seen and unseen. London created an impassioned, sincere, and extremely personal realism unlike that of other American writers of the time. Author Under Sail is a literary tour de force that reveals the full range of London as writer, creative citizen, and entrepreneur at the same time it sheds light on the maverick side of machine-age literature.Intro -- Title Page -- Copyright Page -- Dedication -- Contents -- Acknowledgments -- Introduction -- 1. Spirit Truth -- 2. From Absorption to Theatricality and Back Again -- 3. "I Will Build a New Present" -- 4. Sons as Authors -- 5. Fathers as Publishers -- 6. The Daughter as Author -- 7. Lovers as Authors -- 8. At Sea with the Family -- 9. Yellow News, Yellow Stories -- 10. The Return Home -- Notes -- Bibliography -- Index -- About Jay WilliamsIn Author Under Sail, Jay Williams offers the first complete literary biography of Jack London as a professional writer engaged in the labor of writing. It examines the authorial imagination in London's work, the use of imagination in both his fiction and nonfiction, and the ways he defined imagination in the creative process in his business dealings with his publishers, editors, and agents. In this first volume of a two-volume biography, Williams traverses the years 1893 to 1902, from London's "Story of a Typhoon" to The People of the Abyss. The Jack London who emerges in the pages of Author Under Sail is a writer whose partnership with publishers, most notably his productive alliance with George Brett of Macmillan, was one of the most formative in American literary history. London pioneered many author models during the heyday of realism and naturalism, blurring the boundaries of these popular genres by focusing on absorption and theatricality and the representation of the seen and unseen. London created an impassioned, sincere, and extremely personal realism unlike that of other American writers of the time. Author Under Sail is a literary tour de force that reveals the full range of London as writer, creative citizen, and entrepreneur at the same time it sheds light on the maverick side of machine-age literature.Description based on publisher supplied metadata and other sources.Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, YYYY. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries
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