French Model Research Articles

Неолиберальный реванш Эммануэля Макрона

France is currently going through a rather difficult period of reforms carried out by President Emmanuel Macron in order to bring the economy out of prolonged stagnation and restore the country's «greatness» in the world. Macron's reform initiatives, based on monetarist recipes and the concept of supply-side economics, are considered in the context of the global trend towards economic liberalization that began in the 1970 s and included most developed and developing countries. Until now, changes in France have been slow, with a great lag from other European countries and accompanied by mass protests of the population, because they run counter to the principles of the post-war dirigiste socio-economic model. France went through a long period of liberalization and retreat of the state, and the French model of the market economy has acquired a kind of hybrid character: it is no longer a dirigiste, but also neither a liberal model of the classical (Anglo-Saxon) type. The President set a task to bring the neoliberal transformation of the French socio-economic model to its logical end by reforming institutions that do not meet modern challenges. The article analyzes the most important reforms that were carried out by French presidents before E. Macron, in order to reduce the public sector, change labor law and collective bargaining procedures, reduce social expenditures of the state, etc. The role of E. Macron in neoliberal reforms during the presidency of F. Hollandeis shown. Particular attention is paid to the tasks and content of E. Macron's landmark reforms, including the reform of labor legislation, tax reform, the reform of the state monopoly in the field of railway transport, and the incomplete pension reform. The President has surpassed his predecessors in terms of the scale and significance of neoliberal reforms. This is unquestionably major breakthrough in neoliberal transformation, which will have an impact on the further development of the country's economy.

Methods of ensuring the principle of adversary of the parties during the pre-trial stage of the criminal process

The article is devoted to the methods of ensuring the principle of adversary of the parties during the pre-trial stage of the criminal process. To offer the most optimal method of ensuring adversary of the parties during the pre-trial stage for legislators of the Republic of Kazakhstan, legislative practice of France, Germany and the USA were studied. While studying the criminal process of these countries the French model of the adversarial nature of criminal proceedings is recognised as not acceptable due to the conduct of preliminary investigation in this country by forensic investigators. In the Republic of Kazakhstan pre-judicial investigations are conducted by special bodies of inquiry and preliminary investigation. As a result of the research, the author gives preference to the US case law, which provides the right for a lawyer to not provide the evidence collected by him to the investigative authorities, in order to demonstrate them at the trial.

British Sociability in the Long Eighteenth Century: Challenging the Anglo-French Connection ed. by Valérie Capdeville and Alain Kerhervé

Reviewed by: British Sociability in the Long Eighteenth Century: Challenging the Anglo-French Connection ed. by Valérie Capdeville and Alain Kerhervé James Harriman-Smith Valérie Capdeville and Alain Kerhervé, eds., British Sociability in the Long Eighteenth Century: Challenging the Anglo-French Connection ( Rochester, NY: Boydell & Brewer, 2019). Pp. 320; 10 b/w illus. $115.00 cloth. In Marie-Madeleine Martinet's reading of The Exact Surveigh of the Streets Lanes and Churches Contained within the Ruin of the City of London (1666), what appear as voids—courtyards, quadrangles, and so on—"were the significant meeting points," and thus a negative expression of the "marks of sociability" (36). In Elisabeth Martichou's study of French and English painting academies, we learn that "the grotesque representation of artistic sociability was more pronounced in England than in France" (105). Through Pierre-Yves Beaurepaire's investigations of masonic archives, we discover the extraordinary efforts that the freemasons of Brest took to place their lodge under the jurisdiction of both the Grand Orient de France and the Grand Lodge of England. Annick Cossic-Péricarpin argues that Thomas Smollett's championing of cold-water baths "redefined British sociability" in less foppish terms (142). And Norbert Col relays Mary Shackleton's portrait of Edmund Burke, "this inimitable man … mixing with his own hands pills for the sick poor" (243). The variety of these vignettes and arguments demonstrates the welcome range of work that appears in Valérie Capdeville and Alain Kerhervé's edited collection. The contributors themselves are regrettably a little less varied: they are all in permanent positions at universities in the UK, North America, or France, and none appear to be early career academics. This is partly, I suspect, a result of the book's genesis in a series of conferences held in 2014–15 on British sociability, and the sociable and academic network the editors describe as forming there. From this network come fourteen essays, whose aim is presented to us as follows: to investigate the origins and evolutions of sociability in Britain in the long eighteenth century by challenging the hegemony of the French model of sociability and establishing the ways and means by which a form of national sociability evolved in the British Isles in the long eighteenth century. (4) The relationship between this statement and the concept of "British sociability" is complex. As Michèle Cohen observes in her foreword, this collection's aim of "challenging the hegemony of the French model of sociability" aligns with Roy Porter's argument, in his Enlightenment: Britain and the Creation of the Modern World (2000), that Britain was the true home of modernity. At the same time, though, there is a limit here on what "Britain" means. While this statement does not deny that "British sociability" might also have evolved outside of the British Isles (a passage in the volume's conclusion takes up this possibility by mentioning British colonies), it does inform us that the bulk of this volume's investigation into the "origins and evolutions of sociability in Britain" will be focused on the British Isles. The final sentence of the introduction adds another layer of complexity to the claim that "a form of national sociability" evolved in this geographical area between (roughly) 1660 and 1830. A British model of sociability progressively took shape from the Restoration period and developed throughout the eighteenth century, defining [End Page 509] itself thanks to exchanges and tensions with France and expressing itself through paradoxes that both reflected and constructed the national character. (4) Perhaps inevitably, there is something apparently circular about this statement. "A British model of sociability" expresses itself in a way that "both reflected and constructed the national character," and thus, presumably reflected and constructed something that might very well define the Britishness of British sociability. Of course, a strict definition of "British sociability" as that sociability which evolved in the British Isles would prevent this, by setting the relative solidity of "British Isles" against the more nebulous (and politically fraught) terms of Britain and British. To do so, though, would deny much of the interest of the topic of this collection. It is a good thing, therefore, that, throughout...

Sino-French Trade at Canton, 1698–1842 by Susan E. Schopp

Reviewed by: Sino-French Trade at Canton, 1698–1842 by Susan E. Schopp Jeff Horn Sino-French Trade at Canton, 1698–1842. By susan e. schopp. Hong Kong: Hong Kong University Press, 2021. 216 pp. ISBN 97898885228509. $73.00 (hardcover). Susan Schopp's brief monograph is misnamed. Although its title is Sino-French Trade at Canton, 1698–1842, the volume, profits, and meaning of that trade are completely absent from this book. Nor does Schopp place her findings into any sort of historiographical context whatsoever. This short work of 130 pages of text is restricted to an exhaustive, repetitive description of a commercial exchange by France and the French involving a particular place, namely Canton. Between 1698 and 1842, 289 French ships called at Canton bringing silver, textiles, luxuries like coral and gold thread, and metals, especially lead. They returned laden with cargoes primarily of tea with some porcelain and raw silk along with tiny quantities of other goods (pp. 38, 135–159, 161). Schopp did not delineate how these cargoes, or their profitability, may have changed over time. The number of French ships arriving in Canton peaked under the second Compagnie des Indies between 1730 and 1769 when 16–22 French ships arrived in China annually except during the frequent periods of war with Britain (p. 15). Three periods of "Company rule" (1664–1719, 1719–1769, 1785–1793) were interspersed with eras of "private trade." Schopp devotes a chapter to "The French Company Model of Sino-European Trade" (pp. 25–40). She emphasizes: (1) the role of the French state in creating the French East India Company; (2) the dependence on the royal family for capital; the Company's "broad founding mission and geographical scope"; and the important role of private traders within the Company's monopoly (pp. 29–30). A brief description of the East India Companies chartered by other countries (pp. 25–29) stands in for any consideration of what was distinctive or important about that model. Schopp's findings beg for comparison to French trade patterns with the Levant, North America, and the Caribbean or even with other areas that had been part of the bailiwick of the East India Company like pondicherry or the Mascarenes. This type of analysis of commercial exchange is being undertaken across the field and has been a longstanding part of historical inquiry into commercial matters. Junko Takeda's new monograph, The Other Persian Letters: Iran and a French Empire of Trade, 1700–1808 (Oxford University Studies in the Enlightenment, 2020) is deeply imbricated in the literature on commercial interaction [End Page 720] and successfully demonstrates how an example can bring out the contours of the whole. This book also stresses that the French Company's operations were located primarily in Paris, Versailles, and Lorient though Saint-Malo and Nantes are also mentioned (p. 31) which calls for comparison to the Dutch system described earlier in the chapter. She concludes that "The most striking characteristic of the French model was its relationship with the Crown and the consequent effect on the Compagnie's administration" (p. 32). She follows that observation with an exhaustive description of the French East India Company's administrative structures and then their replacement by a Consulate with a resident royal agent as France's representatives in Canton (pp. 32–36). The divorce of this information from the volume or profitability of trade, the importance of import substitution, or the shape of commercial interactions in Canton or how other models performed leaves this material unmoored from their very purpose. In good encyclopedic fashion, Schopp delineates the various types of ship, their characteristics, and the crews used in the Sino-French trade as well as the "chop boats" that unloaded goods in Canton, Macao, or Whampoa. The various routes across the Indian Ocean and through the archipelagoes south of Canton are explored thoroughly. A brief look at the trans-Pacific route is interesting but had little commercial impact except for a short period in the early eighteenth century (pp. 60-62). She devotes chapters to the daily life and physical plant of the French hong or commercial establishment, entertainment, and lengthy biographical sketches that draw on her earlier interest...

Behavioral Portfolio Management with Layered ESG Goals and Ai Estimation of Asset Returns

Portfolio managers and individual investors alike are in quest of efficient asset allocation models that simultaneously express environmental, social, and governance (ESG) considerations along with investor behavioral biases. The current study presents a novel approach to optimize the behavioral portfolio management model in the presence of investor biases for ESG sustainability, loss aversion, and cognitive dissonance. We extend the factor pricing literature by implementing a factor extraction protocol to identify three unique and pervasive ESG factors. Upon examining the interconnectedness of the factors, machine learning methods are applied to a production-theoretic six-factor Fama and French model to predict individual asset returns. Enumeration of efficient asset allocations is obtained by solving a hierarchical multiobjective portfolio optimization model. simulation results from solving alternate specifications of the layered goal ESG-driven model corroborate and extend emergent research on portfolio sustainability, network theory, and the interconnectedness of financial returns. Additionally, we provide results to amplify the existence of a hump-shaped ESG efficiency frontier. The results provide new information about the trade-offs available for resolving cognitive dissonance when investors are conflicted between holding ‘green’ versus ‘brown’ asset diversification plans.

The Impact of Herding on the Risk Pricing in the Egyptian Stock Exchange

We test the impact of herding behaviour on the risk pricing in the Egyptian Stock Exchange (EGX) by adding an additional risk factor reflecting herding behaviour to the Fama and French three-factor model. We construct a portfolio to mimic an additional risk factor related to herding behaviour, in addition to the original risk factors in the Fama and French three-factor model. The three-factor model will be tested in its original form and re-tested after adding the herding behaviour factor. The study is based on Hwang and Salmon methodology, in which the state space approach based on Kaman’s filter was used to measure herding behaviour. We used monthly excess stock returns of 50 stocks listed on the EGX from January 2014 to December 2018. The results do not support Fama and French model before and after adding the herding behaviour factor, therefore, there is no effect of herding behaviour on the risk pricing in the Egyptian Stock Exchange.

Analysis the Determinants of Risk Factor Model for the Jordanian Banking Stocks

The purpose of this study is to analyze the determinants of risk factor model for the Jordanian banking stocks from 2006 to 2018. This study employs the Five-factor Fama and French's (2015) methodology and uses the annual returns of all Jordanian banks including 2 Islamic and 13 commercial banks listed on the Amman Stock Exchange (ASE) over a period of 13 years. The results show that the factors of value and profitability have an important role in evaluating the expected return in Jordanian banking stocks. Moreover, the value HML and profitability RMW factors provide the highest cumulative returns among these five factors, while the investment CMA and size SMB factors are still around zero cumulative returns. For the market factor, it provides the least negative cumulative returns. The results showed that the largest correlation is between value and investment factors which means that banks with a high book to market value become banks with a conservative investment strategy. The result of the sub-periods confirmed the value and profitability results. The findings of this study suggest that the five-factor Fama and French model is the choice of building an investment portfolio, especially the factors of value and profitability.

Empirical Test of Fama and French Three-Factor Model in the Egyptian Stock Exchange

We test the empirical validity of the three-factor model of Fama and French in the Egyptian Stock Exchange (EGX) using monthly excess stock returns of 50 stocks listed on the EGX from January 2014 to December 2018. Our findings do not support Fama and French three-factor model, where the coefficient of the beta was insignificant. The “SBM” coefficient and the “HML” coefficient were equal to zero and insignificant, which confirms the absence of the small firm effect and book-to-market ratio effect in the market. We conclude that there is no relation between expected return and Fama-French risk factors.

Impact of Idiosyncratic Volatility on Average Stock Returns: Evidence from Sri Lanka

The complete diversification of idiosyncratic volatility is questionable due to factors such as market imperfections, investor irrationality and managerial decisions. Therefore, the purpose of this study is to investigate the impact of idiosyncratic volatility on average stock returns in the Sri Lankan context. Using the five-factor asset pricing model of Fama and French (2015) along with Exponential Generalised Autoregressive Conditional Heteroskedasticity (EGARCH) estimated idiosyncratic volatility of stocks of firms listed on the Colombo Stock Exchange (CSE), except for firms in banks, finance and insurance sectors, this study reveals a positive and statistically significant association between average stock returns and idiosyncratic volatility for the sample period from September 2004 to March 2018. The empirical findings on firm profitability and investment yield striking evidence on idiosyncratic volatility of stocks from a frontier market perspective, while uncovering the importance of further research on the investor behaviour on asset pricing decisions.

Особенности французской модели интеграции мигрантов в контексте социального развития единой Европы во второй половине XX – начале XXI в.

The article aims to study the features of French model migrants integration in the context of all Europe social space. The chronological framework is over 1950s the first twenty years of the XXI century. The article is quite relevant in connection with the serious migration crisis in the European Union that began in 20142015. The flow of migrants, their integration and social adaptation into the European society caused a strong public outcry, exacerbated the discussion about the consequences of large and illegal migrations. The leading European countries for a long time created and improved their integration models, which served for their social adaptation and assimilation. This article focuses on French model. The main results are as follows: French model migrants integration has been built due to the main social, political, cultural and historical features. They are supposed to include the principles underlying the French policy of migrant integration, dating back to the period and ideas of the French Revolution; the interpretation migrant adopted in French law and influencing the particularities of French model; quantification of direct immigrant descendants; prohibition of ethnic statistics. The concept of ethnic minority is absent in French society; in accordance with the Constitution, France is a single and indivisible community of citizens, that singles out French models name - the republican one. This model assumed the assimilation of migrants by the host society.

Cross-Lingual Visual Grounding

Visual grounding is a vision and language understanding task aiming at locating a region in an image according to a specific query phrase. However, most previous studies only address this task for the English language. Although there are previous cross-lingual vision and language studies, they work on image and video captioning, and visual question answering. In this paper, we present the first work on cross-lingual visual grounding to expand the task to different languages to study an effective yet efficient way for visual grounding on other languages. We construct a visual grounding dataset for French via crowdsourcing. Our dataset consists of 14k, 3k, and 3k query phrases with their corresponding image regions for 5k, 1k, and 1k training, validation and test images, respectively. In addition, we propose a cross-lingual visual grounding approach that transfers the knowledge from a learnt English model to a French model. Despite that the size of our French dataset is 1/6 of the English dataset, experiments indicate that our model achieves an accuracy of 65.17%, which is comparable to the accuracy 69.04% of the English model. Our dataset and codes are available at https://github.com/ids-cv/Multi-Lingual-Visual-Grounding .

Types of Power in Intertextuality: Sir Ken Robinson's Ted Talk 'do Schools Kill Creativity?' As A Sample

This study attempted to investigate the use of intertextuality as a source of power in a TED talk sample, viz., Sir Ken Robinson's 'Do Schools Kill Creativity?' within the framework of Critical Discourse Analysis (CDA). This paper followed a qualitative paradigm in analyzing the sample data. Accordingly, an eclectic model was devised, integrating Gee's (2014a, 2014b) model of intertextual analysis and French and Raven's (1959) model of the bases of social psychological power. The application of this model to the selected data has yielded some conclusions, the most salient of which is that intertextuality is important in TED talks as it is used to show implicit meanings to exercise two types of power: expert power and referent power. Accordingly, it is recommended to consider power relations and the exercise of power when conducting any intertextual analysis within the framework of CDA.

French Model of Integration of Immigrants Facing the Modern Challenges

Article examines specifics of French model of integration of immigrants, as well as the evolution of integration practices. It is shown that integration model was based initially on principles of assimilation, and ethnic and religious identity of the migrants was not taken into account. It is established that current model of integration does not require cultural unification, but does not allow institutionalization of immigrant communities as representatives of interests of migrants. Author concludes that the reasons for re-Islamization, which mainly affected second and third generation of migrants, were structural transformations in economy, as well as an increase in the number and geography of migration flows. Article analyzes factors that contributed to formation and spread of ethno-religious communities in the country, as well as driving forces that led to the rise of Islamist radicalism and surge of terrorist acts. Special attention is given to the problem of interaction of a secular, democratic state and society with Islam, a significant part of whose adherents belong to different socio-cultural paradigm than the indigenous population. Author focuses on current political initiatives of President Macron, to demarginalize urban suburbs, as well as measures taken to structure Islam in France and counter Islamist radicalism. In this research, author uses a political and cultural approach that integrates methods of sociology, socioculturology, psychology, which makes it possible to study socio-cultural dimension of politics, symbolic aspect of public life, as well as restores the role and significance of human person as the main actor in political process.

National models of policy in the sphere of the higher education in a democracy

The article analyzes the main national models of university policy in the world's leading democracies, identifies differences in the mechanisms and styles of educational policy, the reasons for different approaches to policy-making in a democratic system.It was found that in a democratic regime, the state retains the role of administrator of the education system, but through increased publicity and pluralism, governments seek to involve stakeholders in the policy-making process by forming coalitions with them. Educational coalitions allow the government to articulate the interests of some internal and external groups in the higher education system, to attract resources and support from these groups to implement its own concept of reforming.However, the composition of educational coalitions, the mechanisms of their formation vary from country to country, due to differences in administrative systems, ideological orientations, political culture and historical traditions. It is determined that the system of higher education is characterized by a stable configuration of external and internal groups, from which certain coalitions are formed. Internal groups consist of the academic community (teachers), academic management, students; external groups – the state, local authorities and the market (employers).The article analyzes the specifics and differences of the French, British, German, American and Asian (Japan, South Korea) models of educational policy. The British and American models are based on market mechanisms under the general coordination of the state. In the United States, university policy is also marked by the existence of two political courses in the educational sphere - the regional authorities and the federal center.The French model is based on the centralized administration of the education system by the government and the polarization of internal groups. The German model relies on close cooperation and coordination of federal and regional educational policies while limiting market mechanisms. The Asian model is characterized by corporate principles of educational policy formation and co-optation of group interests

Who is King in Factor Zoo? Case of the Chinese Stock Market

This paper aimed to evaluate and compare individual performances and contributions of seven well-known factors, selected from four widely cited asset pricing models: (1) the capital asset pricing model of Sharpe (1964), (2) the three-factor model of Fama and French (1993) the augmented four-factor model of Carhart (1997), (3) the five-factor model of Fama and French (2015), and (4) the illiquidity model of Amihud, et al. (2015) in capturing the time-series variation of stock returns and absorbing the 12 prominent anomalies. The anomalies were constructed by forming long-short portfolios, and regressions were run to examine their monthly returns from 2000 to 2019. We found that there is no definite and absolute “king” in the factor zoo in the Chinese stock market, and size is the relative “king” that can absorb the maximum number of anomalies. Evidence also indicates that the three-factor model of Fama and French may still play an important role in pricing assets in the Chinese stock market. The results can provide investors with a reliable risk factor and help investors form an effective investment strategy. This paper contributes to asset pricing literature in the Chinese market.G1

The Problems of Democracy: Zhang Taiyan and the Federalist Moment in 1920s China

This essay discusses the problems of democracy by examining the writings of the Chinese thinker Zhang Taiyan (1868–1939). The goal of this essay is not to promote Zhang’s political philosophy as a panacea to the problems of democracy. Instead, it uses Zhang’s struggle with Chinese political problems to clarify the complex nature of democracy—its source of power, its modes of participation, and its institutions to channel the people’s voice. Focusing on Zhang’s attempts to balance three competing claims of democracy—the protection of the people’s rights, the expression of the people’s voice, and the prudent exercise of power in taking care of the citizens’ needs—this article elucidates a “Buddhist-Daoist” model of democracy that is different from the American model of local autonomy and the French model of a strong state.

THE MOMENTUM EFFECT: ANOMALY OR ILLUSION

This paper tests the effectiveness of the momentum strategy for different time horizons between April 2013 and March 2020 and its sources in the Tunisian stock market. The findings display that, employing the methodology of Jegadeesh and Titman (1993), momentum strategy for all time horizons are positive and statistically significant. In the explanation section of the momentum effect, it is found that the momentum is not an illustration of the January effect and that both models (Capital Asset Pricing Model and the model of Fama and French (1993)) are unable to fully capture the profit of momentum strategy. However, we find that trading costs in the form of quoted spread eliminate the statistical significance of the momentum return. Therefore, an investor can’t make a profit by exploiting the momentum strategy in the Tunisian context.

Особенности организации системы высшего музыкального образования во Франции

The study provides a characteristic of the French model of higher musical education with a pronounced national specificity, which consists of a special division into levels, or cycles, with its own system of naming academic degrees, awarding diplomas, etc. The authors revealed that the organization of a complex “organism” of the musical education system, presented in a variety of types of public and private institutions, is based on the principle of complementarity of curricula and the identity of competitive examinations. The phenomenon of the high status of university music education is especially noteworthy. Although until recently it concerned mainly musicology and pedagogy, in the last two decades, obtaining an academic degree approved by the higher conservatory together with the university has become prestigious for musicians of various specialties, including concert performers.

The scalpel, the calculator and the judge in France: from technical perspective to legal evidence

AbstractIn France, judicial expertise operates within a specific institutional framework at the same time as it covers a distinctive community of practitioners called upon for their technical or scientific knowledge to serve justice. Indeed, while experts in the US are selected by the litigants, the French model features judge-appointed experts. This model could offer better guarantee of independence and neutrality, to the point that recent developments in the US suggest the emergence of a new court-appointed expert. What does such an institutional model involve in terms of evidence production? To answer this question, this paper looks at two areas of expertise in France: economic experts and forensic pathologists. Through an ethnography of the co-production of legal evidence, it analyses the black box of the French practices of legal expertise and allows the way in which the institutional context influences the producing of legal evidence, beyond differences between a scalpel and a calculator, to be understood.

Celebrations at European Courts as Viewed by “Sarmatian” Travellers

This article considers the way inhabitants of the Polish-Lithuanian Commonwealth perceived European court ceremonies as reflected in their travel notes. More particularly, the author analyses texts of the eighteenth century, where the ceremonies described are treated as some of the most important elements of symbolic communication between the authorities and society. Eighteenth-century travelogues provide a comprehensive idea of contacts with royal courts and social elites (political but also cultural and even academic), which does not comply with the stereotypical image of such situations. Starting with the late seventeenth century, court culture mostly relied on French models, which is why the article presents ceremonies at the court of Versailles described by travellers from the nobility, clergy, and from a woman’s perspective. The author also describes ceremonies and etiquette of the imperial court in Vienna, as well as the very specific ceremonial of the Roman court. The latter was characterised by the participation of the Pope. The analysis relies on intercultural communication research methods.