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Suite à la crise des Subprimes survenu en 2008 au Etats-Unis, il s'en est suivi une crise financière à l'échelle mondiale. Crise qui a eu des effets dévastateurs au sein de plusieurs pays. C'est dans cet ordre d'idée que nous avons tenu à étudier le risque de crédit auprès des PME Liégeoises.

Risque de crédit --- PME --- Crise financière --- Financement --- Banque --- Sciences économiques & de gestion > Comptabilité & audit

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Executive summary:
The BCBS crusade to eliminate the scars of the 2007-2009 financial and economic crisis continues with the new Basel III finalised framework which will be set in place by 2022. This new regulation brings a series of novelties and review of existing mechanisms under the Basel III regulation. Indeed, it will revise the operational risk and market frameworks as well as the leverage ratio requirements. However, the most controversial measures are identified as the setting up of an output ratio for all IRBs assessment methods and the proposal of more constrained IRBAs for credit risk RWA calculations. 
The scientific working papers available on the potential impacts which will be caused by the new Basel regulation by 2022 are very scarce. The research carried out by the author aims at determining the aftermaths of the input floor policy on the bank risk appetite, competitiveness and portfolio composition. To do so, the most significant 25 European G-SIBs were selected based on the asset size criterion. Then, they were divided into 3 business model: universal bank, retail bank and wholesale bank. An overview of the breakdowns of their exposure portfolio, credit risk RWA and application of IRBAs methods has been done based on the data retrieved in the pillar 3 disclosure reports required by the CRD IV and CRR.
When assessing the impact of the increase of the input floors, we observed an increase in the RWA amount even after having subtracted the scaling factor reduction. Moreover, the lower the maturity, the more significant the augmentation in RWA was. 
The relative results were very homogenous, meaning that the different correlation formula have an impact on the absolute amounts, but the variation proportions are well preserved by the IRBA RWA formula from an exposure class to another. Then, variations of RWA due to LGD and EAD floors were considered. The relationship between those risk parameters and the RWA amount was forecasted as to have a linear impact on the RWA amount when their value is below the different thresholds. With these results, we determine that UL and risk weight density will be the main drivers of credit portfolio and will trigger the decision to shift from a lending strategy to another. The risk of a credit crunch for safest exposures exists as banks will consider the input floors as an incentive to take more risk.

Basel IV, Bâle IV --- Credit risk --- Banks --- Regulation --- Finance --- Sciences économiques & de gestion > Finance

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L'acquisition d'une société est une opération complexe nécessitant une excellente collaboration entre professionnels. Les incidences économiques, juridiques et fiscales sont intimement liées entre elles et imposent une démarche structurée et interprofessionnelle.Dans cet ouvrage, plusieurs spécialistes se sont penchés sur les questions les plus fondamentales et les plus actuelles qui se posent dans le cadre d'un processus complet d'acquisition :- les différentes techniques d'évaluation d'une entreprise,- la réalisation d'un business plan,- le financement de l'acquisition,- la rédaction des conventions,- la responsabilité des intervenants à une acquisition,- le traitement fiscal des opérations.Cet ouvrage intéressera de nombreux praticiens (experts comptables et conseillers fiscaux, réviseurs d'entreprises, avocats, professionnels des bureaux de cession et d'acquisition, spécialistes de la fusion et acquisition) et leur sera utile pour satisfaire l'intérêt du client.Dans cette seconde édition, les méthodes de travail et le choix de solutions appropriées sont analysés à la lumière des récents développements en matière fiscale mais aussi en tenant compte des risques nouveaux de responsabilité professionnelle. Le lecteur trouvera également une nouvelle partie relative à la taxation des plus-values sur actions ainsi qu'un commentaire sur l'application des taux d'actualisation dans le cadre de l'évaluation d'une entreprise.

Business enterprises --- Sale of business enterprises --- Entreprises --- Purchasing --- Law and legislation --- Registration and transfer --- Achat --- Droit --- Vente --- Transmission --- Consolidation and merger of corporations --- Taxation --- vennootschapsrecht --- bedrijfsovername --- 347.451 <493> --- droit des societes --- reprise d'entreprise --- Koop. Verkoop. Afstand--(verbintenissenrecht)--België --- Ebooks --- 347.451 <493> Koop. Verkoop. Afstand--(verbintenissenrecht)--België --- Acquisition of corporations --- Acquisitions and mergers --- Amalgamation of corporations --- Business combinations --- Business mergers --- Buyouts, Corporate --- Corporate acquisitions --- Corporate buyouts --- Corporate mergers --- Corporate takeovers --- Corporations --- Fusion of corporations --- Hostile takeovers of corporations --- M & A (Mergers and acquisitions of corporations) --- Merger of corporations --- Mergers and acquisitions of corporations --- Mergers, Corporate --- Takeovers, Corporate --- Corporate reorganizations --- Golden parachutes (Executive compensation) --- Industrial concentration --- Trusts, Industrial --- Consolidation --- Mergers --- E-books --- Consolidation and merger of corporations - Law and legislation - Belgium --- Consolidation and merger of corporations - Taxation - Law and legislation - Belgium --- acquisition d'entreprise --- Droit économique et commercial --- Evaluation comptable --- Groupements de sociétés --- Due diligence --- Cession d'actions --- Cession d'actifs --- Contrats de cession --- Aspects fiscaux --- Belgique --- Transmission d'entreprises --- Rédaction

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Commercial law. Economic law (general) --- Belgium

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Belgique --- Consolidation and merger of corporations --- Entreprises --- Coût du capital --- Vente --- Droit --- Transmission --- Impôts --- Aspect économique --- Business enterprises --- Sale of business enterprises --- Purchasing --- Law and legislation --- Registration and transfer --- Achat