Dividend policy

The aim of this article is to analyze the various aspects of dividend policy. Emphasizing tax issues, theoretical frameworks of informational asymmetry of corporate governance and life cycles, we show that a static vision of dividends has been gradually replaced by a dynamic vision. Nevertheless, in spite of the numerous studies dealing with this topic, Black’s (1976) dividend puzzle still remains unsolved

Predicting corporate bankruptcy using a self-organizing map: An empirical study to improve the forecasting horizon of a financial failure model

The aim of this study is to show how a Kohonen map can be used to increase the forecasting horizon of a financial failure model. Indeed, most prediction models fail to forecast accurately the occurrence of failure beyond one year, and their accuracy tends to fall as the prediction horizon recedes. So we propose a new way of using a Kohonen map to improve model reliability. Our results demonstrate that the generalization error achieved with a Kohonen map remains stable over the period studied, unlike that of other methods, such as discriminant analysis, logistic regression, neural networks and survival analysis, traditionally used for this kind of task

Dynamic analysis of the business failure process: A study of bankruptcy trajectories

This study examines a method of analyzing the dynamics of financial failure. Using a large amount of data and a Kohonen map, we show how to depict company trajectories of behavior and movement to terminal failure We also show how to analyze these trajectories to describe and understand the dynamics of bankruptcy and how to use them as a diagnostic tool

Predicting corporate bankruptcy using a self-organizing map: An empirical study to improve the forecasting horizon of a financial failure model

The aim of this study is to show how a Kohonen map can be used to increase the forecasting horizon of a financial failure model. Indeed, most prediction models fail to forecast accurately the occurrence of failure beyond one year, and their accuracy tends to fall as the prediction horizon recedes. So we propose a new way of using a Kohonen map to improve model reliability. Our results demonstrate that the generalization error achieved with a Kohonen map remains stable over the period studied, unlike that of other methods, such as discriminant analysis, logistic regression, neural networks and survival analysis, traditionally used for this kind of task

Dynamic analysis of the business failure process: A study of bankruptcy trajectories

This study examines a method of analyzing the dynamics of financial failure. Using a large amount of data and a Kohonen map, we show how to depict company trajectories of behavior and movement to terminal failure We also show how to analyze these trajectories to describe and understand the dynamics of bankruptcy and how to use them as a diagnostic tool

Dividend policy

The aim of this article is to analyze the various aspects of dividend policy. Emphasizing tax issues, theoretical frameworks of informational asymmetry of corporate governance and life cycles, we show that a static vision of dividends has been gradually replaced by a dynamic vision. Nevertheless, in spite of the numerous studies dealing with this topic, Black’s (1976) dividend puzzle still remains unsolved

Physicochemical and biochemical characteristics evaluation of seven improve cassava (Manihot esculenta crantz) varieties of Côte d'Ivoire

A lot of people around the world convert cassava roots into different products according to local customs and preferences. In Côte d’Ivoire, due to its high consumption, cassava is a subject of concern to researchers. For that purpose, seven improved varieties of cassava (with better productivity and resistance to many diseases), were set up by CNRA. Nevertheless, their valorization and popularization need information about physico-chemical, biochemical and sensorial characteristics. So, the aim of this study was to identify the best improved varieties regarding these characteristics. The physicochemical,'biochemical and sensorial characteristics were determined according to several standard methods and then the different data were submitted for statistical analyses. Three clusters of varieties were identified. The first cluster (C1) presented the highest energy value (170.26 Kcal/100 g), carbohydrate (37.65 g/100 g), starch (22.52 g/100 g), dry matter (40.79 g/100 g) and the lowest moisture (59.24 g/100 g) and reducing sugar (0.36 g/100 g). In opposition, the second cluster (C2) registered the lowest energy value (130.12 Kcal/100 g), carbohydrate (25.80 g/100 g), starch (6.12 g/100 g), dry matter (29.59g/100 g) while its moisture (70.41 g/100 g) and reducing sugar (0.91 g/100 g) where the highest. The third cluster (C3) presented values between those of cluster 1 and 2. Sensorial characteristics of all the cassava varieties were accepted. Varieties V4, V54 and V69 of the cluster C1, recorded the best characteristics.Key words: Valorization, popularization, cassava, characteristics, sensorial, original, cluster

Editorial

Aujourd’hui, alors que tous les modèles globaux de développement et d’organisation de l’action collective sont mis à mal, l’initiative individuelle paraît reine. La performance des acteurs et la liberté d’entreprendre semblent totales avec pour corollaire, une multiplication des figures de la réussite. A l’évidence la faculté d’entreprendre ne relève pas du seul domaine économique ; elle est le fait d’acteurs qui, pour réussir, investissent simultanément plusieurs sphères (religieuses, politi..