The Determinants of Banks' Capital Ratio in Developing Countries: Empirical Evidence from Tunisia

In this paper, we try to study the determinants of the banks' capital ratio in an emerging country. To do so, we model the relationships between some variables of the banks and this ratio. Our aim is to explain its high level. We try also to answer to a new question. Is it affected by the same factors in the emerging countries as in the industrialized ones? The sample is composed of 18 banks. The data are half yearly. The period sample is from 2002 to 2008. We find that the interest margin and the risk affect strongly the capital ratio. They explain the excess of the capital held by the Tunisian banks. So, this excess is not explained only by regulatory pressures. The deposit variability and the intermediation rate have the same sign. But, the equity cost and the deposits ratio both have a negative impact.  The main determinants are the same for all the countries. Keywords: Capital ratio, commercial bank, capital determinants, capital structure, developing countries

The Determinants of Banks' Capital Ratio in Developing Countries: Empirical Evidence from Tunisia

In this paper, we try to study the determinants of the banks' capital ratio in an emerging country. To do so, we model the relationships between some variables of the banks and this ratio. Our aim is to explain its high level. We try also to answer to a new question. Is it affected by the same factors in the emerging countries as in the industrialized ones? The sample is composed of 18 banks. The data are half yearly. The period sample is from 2002 to 2008. We find that the interest margin and the risk affect strongly the capital ratio. They explain the excess of the capital held by the Tunisian banks. So, this excess is not explained only by regulatory pressures. The deposit variability and the intermediation rate have the same sign. But, the equity cost and the deposits ratio both have a negative impact. The main determinants are the same for all the countries. Keywords: Capital ratio, commercial bank, capital determinants, capital structure, developing countries

Ownership concentration, financial policies and agency costs in a an emerging country

The purpose of this paper is to analyze the relationships between debts, dividends and ownership concentration. Are these mechanisms substitutable or complementary? We propose a three simultaneous equations system for two samples of Tunisian firms (31 quoted companies 73 non quoted private firms) during the period 2005-2013. The results show that these relationships are not same for the quoted firms as for non quoted ones. We find that the debts and the ownership concentration are substitutable. We observed this relation between the ownership concentration level and dividends. In the quoted companies, the debts and dividends are complementary. They are substitutable in the non quoted firms. In the private firms, the ownership concentration level affects the financial policies. Key Words:  control mechanism, debts, dividend, ownership structure. JEL Classification:  G32, G3

The Structure of the Tunisian Banking Market: An Empirical Analysis

This survey analyses the structure of the Tunisian banking market for the 1996–2013 period. We propose a model based on the Panzar-Rosse approach to determine the degree of competitiveness.We find that in Tunisia, the banking market is oligopolistic during all the long and short periods and the increase of the number of commercial banks in the 2000s did not change the market structure. These new banks are small and they need time to reduce the degree of bank concentration and to influence the conditions of banking activities: Over the period 1996-2007 and the 2008-2013 period, the change of banking indicators was very slow. Keywords: Panzar-Rosse model, markets structure, deposit banks; Tunisian bank JEL Classification: D40 L10 L1

Dual Anthropogenic Origin of Global Warming through GHGs and IR Radiation Emissions from Artificialized Soils

This paper contributes to explain the global warming instead of "giving up" and thinking about passively adapting to climate change or global warming. It makes more sense to tackle what creates the greenhouse effect and contributes to global warming. The greenhouse effect is not only due to GHGs emissions, but also to the excess IR radiation emitted during the day, by artificial surfaces, following the absorption of solar radiation. The phenomenon should be compared to that of radiative forcing well known by climatologists and which makes the link between atmospheric pollution and the density of heat fluxes stopped by the atmosphere inducing global warming. It becomes clear that type an equation here. The surplus CO2 and IR radiation emissions influence global warming, not to mention the direct part of the heat released by the combustion of fossil fuels and even renewable (wood fires, biogas, friction of wind turbine propellers with the air)

L'INSTITUT SUPERIEUR DE DOCUMENTATION ENTRE LES DEFIS DES TICS ET LES BESOINS DE LA FORMATION A L’ERE DU NUMERIQUE

Deux évènements importants en Tunisie ces derniers temps ont introduit des changements majeurs au niveau de l’enseignement. Le premier est lié aux efforts que doivent fournir les pays en développement dans le domaine des TICs pour réduire le fossé numérique suite aux directives du sommet mondial de la société de l'information, et le deuxième a un lien avec la réforme de l’enseignement supérieur et l'adoption du système LMD (Licence, Master, Doctorat) dans le but de moderniser le système des diplômes universitaires et d’harmoniser les parcours de formation au niveau de l’enseignement supérieur avec les normes et systèmes internationaux. Nous vivons à l’Institut Supérieur de Documentation, seul établissement universitaire chargé de former des professionnels de l'information (bibliothécaires, documentalistes et gestionnaires des documents et d'archives), de grands défis pour atteindre les objectifs de ces deux évènements, et ce à travers les enseignements assurés et les méthodes pédagogiques adoptées. Une commission au niveau de l'établissement a été constituée pour mener une réflexion sérieuse sur la réforme des programmes et l'exploitation des technologies de l'information et de la communication dans les pratiques pédagogiques, d'autant plus que notre domaine, celui des SIC est en perpétuelle évolution et largement influencé 80 Mohammed Ben Romdhane & Abderrazzak Mkadmi par l’évolution des TICs. Les premiers résultats des travaux de cette commission recommandent les pistes de Il’adoption des formats ouverts et des logiciels libres, ainsi que le développement et l’exploitation des technologies tournés vers le travail collaboratif et l’enseignement à distance. Nous allons présenter dans ce papier l'évolution de l'introduction des enseignements liés aux technologies de l'information et de la communication à l'Institut Supérieur de Documentation tout en évoquant les principaux problèmes financiers, techniques et humains liés à ce type d'enseignements. Ensuite, nous présenterons les nouvelles orientations liées à l’enseignement de ces technologies et à leur utilisation dans l'amélioration des méthodes pédagogiques à l'Institut dans le cadre du passage au système LMD

Comparison of different methods for extraction from Tetraclinis articulata: Yield, chemical composition and antioxidant activity

In the present study, three techniques of extraction: hydrodistillation (HD), solvent extraction (conventional ‘Soxhlet’ technique) and an innovative technique, i.e., the supercritical fluid extraction (SFE), were applied to ground Tetraclinis articulata leaves and compared for extraction duration, extraction yield, and chemical composition of the extracts as well as their antioxidant activities. The extracts were analyzed by GC–FID and GC–MS. The antioxidant activity was measured using two methods: ABTS and DPPH. The yield obtained using HD, SFE, hexane and ethanol Soxhlet extractions were found to be 0.6, 1.6, 40.4 and 21.2–27.4 g/kg respectively. An original result of this study is that the best antioxidant activity was obtained with an SFE extract (41 mg/L). The SFE method offers some noteworthy advantages over traditional alternatives, such as shorter extraction times, low environmental impact, and a clean, non-thermally-degraded final product. Also, a good correlation between the phenolic contents and the antioxidant activity was observed with extracts obtained by SFE at 9 MPa

Global Warming and Its Multiple Causes

The global warming which preoccupies humanity, is still considered to be linked to a single cause which is the emission of greenhouse gases, CO2 in particular. In this article, we try to show that, on the one hand, the greenhouse effect (the radiative imprisonment to use the scientific term) took place in conjunction with the infrared radiation emitted by the earth. The surplus of CO2 due to the combustion of fossil fuels, but also the surplus of infrared emissions from artificialized soils contribute together or each separately, to the imbalance of the natural greenhouse effect and the trend of global warming. In addition, another actor acting directly and instantaneously on the warming of the ambient air is the heat released by fossil fuels estimated at 17415.1010 kWh / year inducing a rise in temperature of 0.122°C, or 12.2°C / century