Cette thèse porte sur le marché dit « volontaire » des services de compensation carbone. Sur ce marché, des entreprises, qui n’ont aucune obligation de souscrire à ces services, achètent à des opérateurs privés, ONG ou entreprises, des « crédits carbone » pour « compenser » leurs émissions de gaz à effet de serre (GES). Pour obtenir ces crédits carbone, les opérateurs du marché mettent en œuvre des projets de réduction des émissions de GES dans les pays du Sud. Ces nouveaux échanges marchands du début des années 2000 ne sont pas sans susciter de critiques. Journalistes, ONG environnementales et scientifiques considèrent que ce marché, d’une part, ne permet pas de réduire efficacement les émissions de GES et, d’autre part, que les populations du Sud encourent de potentiels dangers avec la mise en œuvre de tels projets. La thèse interroge ainsi l’apparent paradoxe du choix des entreprises d’investir dans des services environnementaux contestés alors que ces derniers ne constituent pas une obligation réglementaire et peuvent mettre en danger leur réputation. En considérant le marché « volontaire » comme un « marché contesté », selon le sens donné à cette notion par Steiner et Trespeuch (2014), la thèse rend compte des conditions d’existence et de maintien de ce marché. A partir d’entretiens, d’observations et de l’analyse de sources écrites, elle examine le rôle de divers dispositifs, du travail marchand ainsi que de l’appropriation de l’offre par les acheteurs dans l’organisation de ce marché. La thèse interroge plus généralement le rapport entre économie et environnement et s’intéresse aux ressorts de l’engagement « volontaire » des entreprises pour le climat. / This dissertation deals with the so-called “voluntary” carbon offset market. In this market, companies, which have no obligation to subscribe to these services, purchase “carbon credits” to “offset” their greenhouse gas (GHG) emissions from private operators (NGOs or businesses). To obtain carbon credits, operators implement GHG emission reduction projects in Southern countries. These new trade exchanges, which date from the early 2000s, provoke critics. Journalists, environmental NGOs and scientists believe that this market on the one hand does not effectively reduce GHG emissions to fight against climate change, and on the other hand that people in the South face potential dangers linked to the implementation of carbon offsetting projects. The dissertation thus questions the apparent paradox of the choice of companies to invest in contested environmental services when they are not a regulatory obligation and may endanger their reputation. By considering the “voluntary” market as a “contested market”, according to the meaning given to this notion by Steiner and Trespeuch (2014), the dissertation explores the conditions of existence and maintenance of this market. Through interviews, observations and written sources, our research analyzes the role of various market devices, but also commercial work as well as the appropriation of the offer by buyers in organizing this market. In doing so, it questions more generally the relationship between economy and the environment and is interested in the determinant factors of the “voluntary” commitment of companies for the fight against global warming.

Without doubt a well-developed financial sector is related to efficient resource allocation and growth, but there is modest consensus on the direction of that link, on the notion of what is meant by "well developed", on which subset of the financial market is crucial and thus which organisational set-up provides optimal returns for both architects and market participants alike. With sluggish growth, torn down market barriers and systemic change in the EU accession countries the direction, magnitude, sustainability, institutional set-up of the finance-growth nexus (and which), becomes one of the core issues of both macroeconomic theory and practice. This paper reviews the economic theory available, provides a well structured overview of 54 empirical studies conducted since 1964, sets the stage for constructing a data base encompassing the major three segments of financial markets (stock, bond and bank credit) and provides the methodological background for combining cross-country production function and time-series approaches in order to answer the following questions: (1) What is the direction of the finance-growth nexus, (2) which segment of the financial sector drives whatever nexus there is, and (3) what are the features of a growth supportive financial architecture. / Series: EI Working Papers / Europainstitut

Cette recherche interroge les interférences entre les pratiques des citadins et les politiques publiques dans l’aménagement et la gestion urbaine des quartiers non-lotis de Ouagadougou. La thèse principale est que les citadins interagissent avec les pouvoirs publics par leurs actions urbaines respectives. Les citadins déclenchent et/ou marchandent leurs actions dans le non-loti, au gré des décisions et des opérations publiques antérieures, présentes et projetées. La démonstration s’est effectuée suivant trois entrées. Dans un premier temps, l'analyse a porté sur les relations entre les espaces produits par les pratiques des citadins et ceux revendiqués par des pouvoirs publics. Puis les investigations se sont focalisées sur les images de ville mobilisées par les acteurs urbains, pour légitimer et motiver leurs actions. Enfin, l’analyse des effets réciproques des « politiques institutionnelles » sur les « dynamiques locales » (F. Navez Bouchanine, 2012) a mis en évidence les « compétences des citadins » (I. Berry-Chikhaoui, A. Deboulet 2000). Les terrains de recherche ont été trois quartiers non-lotis de Ouagadougou (Bissighin, Watinoma/Noghin/Basnéré et Tengandogo), où un regard réflexif a été porté sur les effets des actions urbaines prévues dans le cadre du Programme participatif d'amélioration des bidonvilles de ONU Habitat. L'analyse de la constitution et de la transformation de ces trois quartiers non-lotis a révélé des stratégies communes d'appropriations et de marchandages fonciers par les citadins et les pouvoirs publics, avec l'intermédiation des chefs traditionnels ou « cheffocratie » (A. Ouédraogo, 2014) et des organisations de la société civile. / This research questions the interference between the practices of urban dwellers and public policies in the urban planning and management of the non-plotted neighborhoods of Ouagadougou. The main thesis is that urban dwellers interact with public authorities through their respective urban actions. City dwellers trigger and / or bargain their actions in the non-plotted areas in the light of past, present and projected public decisions and operations. The demonstration was carried out following three inputs. Initially, the analysis focused on the relationships between the spaces produced by the practices of city dwellers and those claimed by public authorities. Then the investigations focused on city images mobilized by urban actors to legitimate and motivate their actions. Finally, the analysis of the reciprocal effects of "institutional policies" on "local dynamics" (F. Navez Bouchanine, 2012) highlighted the "skills of urban dwellers" (Berry-Chikhaoui, A. Deboulet 2000). The research fields were three non-plotted neighborhoods in Ouagadougou (Bissghin, Watinoma/Noghin/Basnéré et Tengandogo), where a reflexive look has been taken at the effects of the urban actions planned under the Participatory Slum Upgrading Program of UN Habitat. The analysis of the constitution and transformation of these three non-plotted neighborhoods revealed common strategies of appropriations and bargaining by urban residents and public authorities with the intermediation of traditional chiefs or " cheffocracy "(A. Ouédraogo, 2014) and civil society organizations.

p. 1 - 117 / Submitted by Santiago Fabio (fabio.ssantiago@hotmail.com) on 2013-01-28T20:00:05Z No. of bitstreams: 2 Cleyton Miranda Barros - Texto.pdf: 694417 bytes, checksum: d772db4f8eddb8f9a6ab03775e730f4f (MD5) Cleyton Miranda Barros - PRE.pdf: 63059 bytes, checksum: 30adf19cb58643dbedfe6bc1daf30346 (MD5) / Approved for entry into archive by Fatima Cleômenis Botelho Maria (botelho@ufba.br) on 2013-01-30T13:03:19Z (GMT) No. of bitstreams: 2 Cleyton Miranda Barros - Texto.pdf: 694417 bytes, checksum: d772db4f8eddb8f9a6ab03775e730f4f (MD5) Cleyton Miranda Barros - PRE.pdf: 63059 bytes, checksum: 30adf19cb58643dbedfe6bc1daf30346 (MD5) / Made available in DSpace on 2013-01-30T13:03:19Z (GMT). No. of bitstreams: 2 Cleyton Miranda Barros - Texto.pdf: 694417 bytes, checksum: d772db4f8eddb8f9a6ab03775e730f4f (MD5) Cleyton Miranda Barros - PRE.pdf: 63059 bytes, checksum: 30adf19cb58643dbedfe6bc1daf30346 (MD5) Previous issue date: 2007 / Esta dissertação analisa o desempenho do Sistema Nacional de Emprego – SINE no Estado da Bahia, com enfoque na atividade de intermediação de mão-de-obra, para o período de 2001 a 2005. A partir de uma pesquisa documental, analisou-se os resultados apresentados por esta política pública de emprego, tendo como referência a dinâmica do mercado formal de trabalho no estado. Para tanto, considerou-se diferentes dimensões da política de intermediação, a exemplo do perfil dos trabalhadores atendidos, bem como da relação entre esses e o universo de trabalhadores admitidos e desligados no período, segundo dados do Cadastro Geral de Empregados e Desempregados – CAGED. Como resultado, constatamos uma correlação positiva entre o desempenho do mercado formal de trabalho e o desempenho do SINE, através da relação entre número dos trabalhadores colocados no mercado formal de trabalho através do serviço de intermediação de mão-de-obra em relação ao número total de admissões. Além disso, verificamos ainda que o desempenho do serviço público de intermediação de mão-de-obra é bastante heterogêneo, com expressivas variações de acordo com o perfil dos trabalhadores. / Salvador

Submitted by Diego Laurindo Avancine (avancine7@hotmail.com) on 2018-03-26T21:44:32Z No. of bitstreams: 1 Dissertação - Diego L Avancine - Espaços de coworking como intermediadores sociais - 2018.pdf: 9471611 bytes, checksum: b31c2687d695ff7b8511ae3e8d99958b (MD5) / Approved for entry into archive by Debora Nunes Ferreira (debora.nunes@fgv.br) on 2018-03-27T18:20:59Z (GMT) No. of bitstreams: 1 Dissertação - Diego L Avancine - Espaços de coworking como intermediadores sociais - 2018.pdf: 9471611 bytes, checksum: b31c2687d695ff7b8511ae3e8d99958b (MD5) / Approved for entry into archive by Suzane Guimarães (suzane.guimaraes@fgv.br) on 2018-03-28T13:43:13Z (GMT) No. of bitstreams: 1 Dissertação - Diego L Avancine - Espaços de coworking como intermediadores sociais - 2018.pdf: 9471611 bytes, checksum: b31c2687d695ff7b8511ae3e8d99958b (MD5) / Made available in DSpace on 2018-03-28T13:43:13Z (GMT). No. of bitstreams: 1 Dissertação - Diego L Avancine - Espaços de coworking como intermediadores sociais - 2018.pdf: 9471611 bytes, checksum: b31c2687d695ff7b8511ae3e8d99958b (MD5) Previous issue date: 2018-02-28 / O empreendedorismo como atividade pode ser visto com uma ação de mobilização de recursos, que promove a interação entre diferentes atores, de modo a possibilitar o acesso a recursos e pessoas. Neste aspecto, a literatura acadêmica em redes em empreendedorismo teve poucos avanços no estudo da formação e manutenção de redes de relacionamento em empreendedorismo. Aliado a esta realidade surge no cenário empreendedor o fenômeno dos espaços de coworking. Estes locais tiveram sua consolidação e utilização deste termo a partir do ano de 2005 e, no ano de 2011, já contavam com mais de 700 coworkings inaugurados mundialmente – na época 16 no Brasil (DESMAG, 2011). Tratam-se de espaços compartilhados de trabalho, que podem ser alugados de maneira diária, semanal ou mensal e que, muitas vezes, possibilitam a interação com colegas de espaço e atores externos. A literatura sobre o tema identifica que o desenvolvimento de interação nestes espaços pode ter como finalidade a interação social com o objetivo de geração de negócios e, inclusive, que desenvolva características de comunidade nos seus espaços. Como reflexo dessas características, os espaços de coworking passaram a ser reconhecidos como espaços colaborativos com capacidade para agregar atores diferentes e, também, posicionar-se como polos de conexões de empreendedores. Tendo isso em vista, muitos espaços de coworking utilizam-se de atividades diversas de estimulo a interação de seus clientes e outros atores. Com base no recente contexto do ambiente empreendedor explicitado e o seu potencial como gerador de interações entre empreendedores, fez-se importante analisar o papel dos espaços coworking no desenvolvimento de interações de empreendedores de startup e se a colaboração e interação destes espaços podem ser vistas como naturais. Para atingir estes objetivos de pesquisa foram realizadas 29 entrevistas semi estruturadas com empreendedores de startup, gestores de coworking e gestores de aceleradoras de negócio da cidade de São Paulo. Teve-se como base metodológica a etnometodologia, apoiando-se em uma perspectiva interpretativista que busca entender os fenômenos organizacionais como produtos da interação social. Este estudo possibilitou identificar diferentes formatos de espaços de coworking, aprofundar o conhecimento das técnicas de estímulos à interação desses, além de apresentar detalhadamente o ambiente empreendedor. Esta pesquisa concluiu que os espaços de coworking que se posicionam como locais de referência de empreendedores de startup atuam como intermediadores de relações de interação entre colegas empreendedores e atores diversos. Estes espaços, muitas vezes, usam da necessidade de conexão de empreendedores de startup para oferecer serviços diversos de intermediação e, podem inclusive, criar modelos específicos para lucrar com isso. Nota-se, ademais, que as interações nestes ambientes são estimuladas pelos gestores destes espaços de maneira seletiva e com propósitos instrumentais de desenvolvimento do negócio de seus clientes e, portanto, não podem ser vistas como naturais. Os espaços de coworking podem, assim, tornar-se apenas ‘meios’ para uma prestação de serviço específica e não demonstrar características de colaboração entre seus membros. Espera-se que os resultados dessa pesquisa auxiliem no avanço de pesquisas ‘de dentro’ de redes em empreendedorismo e de coworking e estimule novos estudos sobre o tema. / Entrepreneurship as an activity is an action of resources mobilization, that promotes de interaction with different actors in order to provide access to resources and people. The academic literature of networks in entrepreneurship had little progress in the study of formation and maintenance of relationship networks in entrepreneurship. Allied to this reality emerges in the entrepreneur scenario the phenomenon of the spaces of coworking. These sites had their consolidation and use of this term as of 2005 and in 2011 they already had more than 700 coworkings inaugurated worldwide - at the time 16 in Brazil (DESMAG, 2011). These are shared work spaces, which can be rented on a daily, weekly or monthly basis, which often allow interaction with space colleagues and external actors. The literature on the subject identifies that the development of interaction in these spaces can have as purpose of social interaction with the objective of generation of businesses and, even, that develops characteristics of community in their spaces. As a reflection of these characteristics, the spaces of coworking began to be recognized as collaborative spaces with the capacity to aggregate different actors and, also, to position itself as a pole of connections of entrepreneurs. With this in view, many coworking spaces use various activities to stimulate the interaction of their clients and other actors. Thus, in this recent and potential as generator of interactions among entrepreneurs, it has become important to analyze if coworking spaces help entrepreneurs of startup in the development of interactions with new networks of relationship and if the collaboration and interaction of these spaces can be seen as organic and natural. To achieve these research goals, 29 semi-structured interviews were conducted with startup entrepreneurs, coworking managers and business accelerator managers from the city of São Paulo. Methodological basis was ethnomethodology, based on an interpretative perspective that seeks to understand organizational phenomena as products of social interaction. This study made it possible to identify different formats of coworking spaces, to deepen the knowledge of the techniques of stimuli to the interaction of its managers, besides presenting in detail the entrepreneurial environment. This research concludes that coworking spaces that position themselves as reference sites for startup entrepreneurs act as intermediaries of interaction relationships between entrepreneurial peers and diverse actors, such as business accelerators, suppliers, investors and others. These spaces often use the startup entrepreneur's connection need to offer a variety of intermediary services, and may even create specific models to profit from it. It is also noted that the interactions in these environments are stimulated by its managers selectively and with instrumental purposes of developing their clients' business, and therefore can not be seen as natural. Coworking spaces can thus become just ‘means’ for a specific service delivery and do not demonstrate collaboration characteristics among its members. It is hoped that the results of this research will assist in the advancement of research ‘from within’ networks in entrepreneurship and coworking and stimulate new studies on the subject.

O desenvolvimento tecnológico experimentado nos últimos anos é causa de uma grande transformação no mercado de valores mobiliários. Essa transformação não se restringe aos produtos e instrumentos, cada vez mais sofisticados, mas atinge a própria estrutura de negociação. Assim, testemunhamos o abandono dos pregões viva-voz e o surgimento de sistemas de negociação eletrônica, que aumentaram a velocidade das transações e mudaram a forma de acesso ao mercado secundário de valores mobiliários. O presente trabalho aborda essa questão com foco na atividade de intermediação, procurando demonstrar como essa atividade é afetada pelo acesso eletrônico ao mercado, inclusive pela disciplina regulatória que tal forma de acesso impõe. / Technological development experienced in recent years is causing a major transformation in the securities market. This transformation is not restricted to products and financial instruments, more and more sophisticated, but reaches the very structure of trading. Thus, we witness the abandonment of open outcry system and the emergence of electronic trading systems, which increased trading speed and changed the access to secondary market securities. This paper addresses this issue with a focus on the intermediation activity, seeking to demonstrate how this activity is affected by direct electronic access, including the regulatory discipline that such form of access imposes.

FundaÃÃo de Amparo à Pesquisa do Estado do Cearà / O fechamento da temporada de pesca da lagosta no Nordeste Brasileiro, que, atualmente, vai de 1 de janeiro a 30 de abril (portaria/IBAMA n 137/94, de 12 de dezembro de 1994), à conhecido como o âdefeso da lagostaâ. Nesse perÃodo, as comunidades de pescadores litorÃneas que vivem exclusivamente da pesca desse crustÃceo passam por suas maiores necessidades e enfrentam seus piores problemas socioeconÃmicos. Assim, os pescadores artesanais dessas comunidades ficam mais vulnerÃveis e dependentes das aÃÃes, intervenÃÃes e favores dos agentes que atuam na comercializaÃÃo da pesca local. Essa realidade ensejou a elaboraÃÃo da presente pesquisa, que procurou observar e identificar caracterÃsticas dos fenÃmenos sociais e econÃmicos da pesca artesanal de lagosta, na comunidade de Redonda, localizada no MunicÃpio de Icapuà (CE), descrevendo-os, classificandoos e correlacionando-os com aÃÃes e intervenÃÃes dos comerciantes da pesca local, principalmente com relaÃÃo ao perÃodo do defeso. Para a realizaÃÃo do trabalho, foi desenvolvido um estudo quantitativo e qualitativo, no qual, para a coleta dos dados primÃrios utilizados, recorreu-se aos instrumentos metodolÃgicos da observaÃÃo participante, de questionÃrios administrados e entrevistas estruturadas e informais. Estes foram utilizados numa populaÃÃo de aproximadamente 400 pescadores, em meio a qual foram aplicados 65 questionÃrios e entrevistados os 10 principais intermediÃrios residentes no local, assim como 11 lideranÃas formais e nÃo formais. Deve-se salientar que a definiÃÃo do problema da investigaÃÃo teve a participaÃÃo direta da comunidade envolvida. Os resultados do estudo apontam para uma participaÃÃo ativa dos intermediÃrios, nos segmentos econÃmicos e sociais da pesca artesanal na comunidade, principalmente naqueles referentes aos financiamentos de seus meios de produÃÃo e nas emergÃncias de saÃde de seus habitantes. Conseguiu-se, tambÃm, identificar e quantificar a renda mÃdia bruta mensal dos pescadores, de maneira geral e por categoria, e observou-se que, quanto mais desprovidos sÃo de seus meios de trabalho, menor sua remuneraÃÃo e maior sua expropriaÃÃo por aqueles agentes detentores do capital e controladores do processo de comercializaÃÃo. Em face dos resultados alcanÃados, concluiu- se que os intermediÃrios (barraqueiros) da comunidade de Redonda contribuem para a inÃrcia do pescador no perÃodo do defeso, assim como estÃo se apropriando de seus meios e fatores de produÃÃo. Serà atravÃs de processos educativos, via entidades associativas, conscientizando o pescador nos questionamentos de seus problemas, que a categoria vai poder buscar soluÃÃes para resolve-los e, minimizar as interferÃncias impostas pelos agentes da intermediaÃÃo. à tambÃm atravÃs destes processos, que deverà fluir toda e qualquer aÃÃo de intervenÃÃo de governo na comunidade. / This study was developed in the fisherman community of Redonda in Icapuà county in the eastern side of Cearà State-Brazil. The research aimed to observe and identify social and economic characteristics of the lobster small-scale fishing in the community, describing, classifying and correlating them to the action and intervention of local fishery trademan, specially in relation to the fisheries closed season. To this, a quantitative and qualitative study was developed through the aplication of participant observation, administrative questionnaries, informed and structured interviews. They were applied to a population of four hundred fishermen, a total of sixty five questionnaries and twenty one interviews. From those last, ten were the main market middlemen and eleven, formal and non formal leadership. It is important to state that the local community had a participative role in the definition of the research problem. The results of the study point to the lack of income and its consequences as the main problem of this community as well as the negative intervention of the middlemen who provide many to them for the production means and health emergencies. Facing those problems it was concluded that the market middlemen of the community of Redonda have contributed to the lethargy of the fishermen during the fisheries closed season, as well as they are appropriating of their means and production features. It will be through the fishermen association, organizative and educative processes that the conscientization of their problems will be done. Then, the search for solutions and the minimizations of the interference of the market middlemen will be possible. It will be also through these processes that any government intervention in the community has to be done.

As cooperativas de crédito são instituições financeiras que têm como finalidade principal a prestação de serviços bancários e de intermediação financeira voltando-se para a geração de benefícios ao cooperado, através de benefícios econômicos encontrados sob a forma cooperativada. Considerando o objetivo destas organizações, o presente trabalho teve por objetivo avaliar a eficiência das mesmas considerando duas vertentes: 1) a atividade de intermediação financeira; e 2) a atividade de prestação de serviços bancários, a partir de variáveis contábeis. A técnica utilizada para a avaliação da eficiência foi a Análise Envoltória de Dados e foram analisados os determinantes da eficiência por meio de regressões do tipo Tobit. A amostra é composta por 315 cooperativas singulares listadas na base de dados do Banco Central do Brasil e foram utilizados os dados dos balancetes anuais e semestrais (soma dos semestres para as contas de resultado de cada ano) apresentados para período de 2007 a 2014. Os resultados indicaram baixa eficiência das cooperativas na prestação de serviços bancários, com 73% da amostra apresentando ineficiência ao longo de todos os anos do período em análise. Na atividade de intermediação financeira 20 cooperativas foram eficientes ao longo do período completo, com as demais apresentando graus de ineficiência abaixo de 16% em todos os anos. Quanto aos determinantes da eficiência, verificou-se como principais fatores na atividade de intermediação financeira a Imobilização, a Insolvência, o Descasamento Passivo e as Despesas Administrativas, enquanto na atividade de prestação de serviços os principais determinantes foram a Captação por Floating e as Despesas Administrativas. Os resultados da eficiência na intermediação financeira indicaram baixos graus de ineficiência, enquanto os altos graus de ineficiência na prestação de serviços bancários alertaram para a pouca importância dada ao fornecimentos destes serviços e para a importância de se utilizar dois modelos distintos para a avaliação da eficiência em cooperativas de crédito, dado o comportamento desvinculado entre as duas atividades avaliadas. / Credit unions are financial institutions whose main purpose is the provision of banking and financial intermediation turning to the generation of benefits to the cooperative through economic benefits found in the cooperative form. Considering the purpose of these organizations, this study aimed to evaluate the efficiency of these organizations considering two aspects: 1) the financial intermediation activity and 2) the activity of banking services. For this aim it was used accounting variables. The technique used for the assessment of efficiency was the Data Envelopment Analysis and the determinants of efficiency were analyzed using Tobit regressions. The sample is composed of 315 individual cooperatives listed in the Central Bank\'s database of Brazil and it was used the data of the annual and semi-annual balance sheets (sum of semesters for the result accounts of each year) presented for the period 2007 to 2014. The results indicated low efficiency of cooperatives in providing banking services, with 73% of the sample showing inefficiency over each year of the period. In the financial intermediation activity 20 cooperatives were effective over the entire period, and the other cooperatives presented degrees of inefficiency below 16% in every year of the period. As the determinants of efficiency, it was as key determinants in financial intermediation activity: the immobilization, the insolvency, the mismatch liabilities and the administrative expenses, while in activity of providing services the main determinants were the capture by floating and the administrative expenses. The results of efficiency in financial intermediation were considered satisfactory, but the high degree of inefficiency in the provision of banking services warned of the low priority given to the provision of such services and the importance of using two different models for the assessment of efficiency in credit cooperatives, given the unlinked behavior between the two activities evaluated.

Pourquoi à l’ère du digital, les particuliers préfèrent-ils encore opérer des transactions immobilières avec un intermédiaire ? Quelles sont les perspectives qu’offre Internet aux acteurs de l’intermédiation ? Et quelles sont les limites de cette transformation digitale ? Les travaux développés dans la présente thèse visent à apporter des éléments de réponses à ces questions aux professionnels de l’immobilier résidentiel souhaitant mieux appréhender le comportement de leurs clients et du marché aujourd’hui. L’objectif de cette thèse est de contribuer à améliorer la compréhension des systèmes d’intermédiation, et en particulier de ce qui amène les acheteurs et les vendeurs à utiliser ces services, sur le marché immobilier résidentiel français. / Why, during the digital era, individuals still prefer transaction operations through an estate agent? What do the Internet perspectives offer to the intermediation actors? And what are the Limits of this digital transformation?The work developed in this dissertation aim to provide answers elements to those questions to estate professionals wishing to understand better the behavior of their customers and the market today. The objective of this dissertation is to contribute to the comprehension of improving the intermediation systems, and particularly what brings buyers and sellers to use these services on the real estate French market.

L’objectif de cette étude est d’évaluer l’impact de la surliquidité sur la rentabilité des banques au Cameroun. Les analyses sont axées sur la rentabilité globale mesurée par le rendement de l’actif (ROA) et la rentabilité des capitaux propres (ROE) et sur les marges d’intermédiation (MI). La partie empirique a été conduite sur un échantillon de 10 banques (4 locales et 6 étrangères) observées sur la période 2001-2010. Afin d’évaluer cet impact, nous utilisons la méthode de régression des moindres carrés généralisés (MCG) appliquée aux données de panel. Les résultats des estimations montrent que la surliquidité influence négativement la rentabilité des banques. En outre, cet impact négatif est plus marqué pour les banques locales avec les MI, et pour les banques étrangères avec la ROA et la ROE. Les banques doivent ainsi adapter leurs activités aux besoins de la clientèle et aux contraintes environnementales. / The objective of this study is to assess the impact of excess liquidity on the profitability of banks in Cameroon. The analyzes are focused on the overall profitability as measured by return on assets (ROA) and return on equity (ROE), and intermediation margins (IM). The empirical part was conducted on a sample of 10 banks observed over the period 2001-2010 (4 local banks and 6 foreign banks). To assess this impact, we use the method of Generalized Least Squares (GLS) regression applied to panel data. The estimation results show that the excess liquidity negatively impact the profitability of banks. In addition, this negative impact is stronger for local banks with IM, and foreign banks with ROA and ROE. Banks must adapt their activities to the needs of customers and environmental constraints.