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Regard critique sur l’appréhension du risque en finance de marché. Une tendance à demander pardon plutôt que la permission

Author

Listed:
  • Emmanuel Laffort

    (CREG - Centre de recherche et d'études en gestion - UPPA - Université de Pau et des Pays de l'Adour)

Abstract

La finance moderne se déroule dans un monde magnifiquement bien dessiné. Dansun formidable élan impulsé à partir du début des années 50 et jamais démenti depuis, ce domaine se dote d'outils puissants et se sophistique pour offrir les meilleurs services et produire les meilleurs résultats. Depuis, la connaissance du risque est une condition d'exercice de la finance : elle n'a plus de sens sans lui. N'y-a-t ‘il pas ici un paradoxe ? alors que nous savons maintenant que le risque est consubstantiel à la finance, que notre savoir et nos outils progressent, les crises financières sont plus rapprochées et plus profondes… Après un bref historique de la prise en compte du risque dans la finance moderne, ce chapitre apporte des explications concernant les causes de négligences dans la prise en compte du risque en dépit de son caractère déterminant. Nous examinons ensuite les excès d'une telle situation en illustrant de faits empruntés à l'actualité récente. Enfin, nous proposons des pistes de réflexion pour penser une pratique plus responsable de la finance qui redonne sens et profondeur à cette notion de risque qu'elle "adresserait" en connaissance des conséquences.

Suggested Citation

  • Emmanuel Laffort, 2016. "Regard critique sur l’appréhension du risque en finance de marché. Une tendance à demander pardon plutôt que la permission," Post-Print hal-03335938, HAL.
    • Handle: RePEc:hal:journl:hal-03335938
    Note: View the original document on HAL open archive server: https://hal.science/hal-03335938
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    References listed on IDEAS

    as
    1. Jacques Barraux, 2013. "Éditorial. La confiance ou la soumission," Revue française de gestion, Lavoisier, vol. 0(2), pages 7-8.
    2. David Tuckett, 2011. "Minding the Markets," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-30782-7, October.
    3. Emmanuel Laffort & Emmanuelle Cargnello-Charles, 2014. "La balance appropriative comme outil de réduction du risque de fraude en finance de marché," Post-Print hal-03335894, HAL.
    Full references (including those not matched with items on IDEAS)

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