A R T I C L E S

22 How institutional framework shapes bank efficiency in Sub-Saharan Africa
Arnaud TAMINI, Nazi Boni University, Burkina Faso

13 Meeting the challenge of innovation in the banking industry: an analysis through dynamic capabilities
Jean MOUSSAVOU (Phd, HDR), Full Professor - Excelia Business School, La Rochelle, France

F O C U S   O N

28 Practical investment choice without mean-variance
Stephen SATCHELL, fellow Trinity College Cambridge
Jarrod WILCOX, Wilcox Investment, Inc.

35 Robo-advisors: what we know and what we expect
Milo BIANCHI, Professor of finance, Toulouse School of Economics, TSM, and IUF, University of Toulouse Capitole, France
Marie BRIÈRE, Responsable du Centre de Recherche aux Investisseurs, Amundi ; Chercheur associé, Université
Libre de Bruxelles ; Directeur scientifique du programme Finance and Insurance Reloaded de l’Institut Louis Bachelier