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An Experiment in the Economic Consequences of Additional Disclosure: The Case of the Fair Value of Unlisted Equity Investments

Ding, Yuan; Jeanjean, Thomas; Lesage, Cédric; Stolowy, … - HAL - 2009

We investigate the economic consequences of additional disclosure about assets with no active market in terms of … value 24 investments. We manipulate the level of disclosure on the fair value of assets (Limited versus Full), the …. Full) disclosure, participants are given a point estimate for the fair value of the investment (resp. plus a range of …

Persistent link: https://www.econbiz.de/10008791819

How Does the Stock Market Respond to Chemical Disasters?

Laguna, Marie-Aude; Capelle-Blancard, Gunther - HAL - 2010

In this paper, we examine the stock market reaction to industrial disasters. We consider an original sample of 64 explosions in chemical plants and refineries worldwide over the period 1990-2005. A quarter of the accidents resulted in a toxic release, and half of them caused at least one death...

Persistent link: https://www.econbiz.de/10010635087

Opening the "black box" How internal reporting systems contribute to the quality of financial disclosure

Cavelius, Florence - HAL - 2011

investments. The purpose of this paper is to open the "black box" of the construction of financial disclosure by analyzing the …, the quality of the financial disclosure and the internal reporting systems are measured, and analyzed with a view to … finding some links between them. It is expected that the quality of disclosure is dependent on the quality of the internal …

Persistent link: https://www.econbiz.de/10010820808

Accounting for changes in biodiversity and ecosystem services from a business perspective

Houdet, Joël; Pavageau, Charlotte; Trommetter, Michel; … - HAL - 2009

Biodiversity refers to the dynamics of interactions between organisms in changing environments. Within the context of accelerating biodiversity loss worldwide, firms are under increasing pressures from stakeholders to develop appropriate tools to account for the nature and consequences of their...

Persistent link: https://www.econbiz.de/10008793760

Corporate acquisistion process: is there an optimal cash-equity payment mix?

Bruslerie, Hubert De La - HAL - 2012

This paper examines the combination of cash and share payments proposed in the corporate acquisition process. Particularly, it analyzes the conditions of an optimal mixed payment in the context of an asymmetry of information. Using a model, we highlight that setting the conditions of payment is...

Persistent link: https://www.econbiz.de/10009353554

Mutual Organizations, Mutual Societies

Archambault, Edith - HAL - 2009

This article is an entry to be published in an International Encyclopedia of Civil Society in 2009. Mutual organizations exist everywhere in developed and developing countreies as well. After a definition founded on social economy principles, the paper gives the historical background of mutual...

Persistent link: https://www.econbiz.de/10010750765

The Informational Contribution of Social and Environmental Disclosures for Investors

Cormier, Denis; Ledoux, Marie-Josée; Magnan, Michel - HAL - 2010

Social Responsibility (CSR). Disclosure practices have followed suit as well with social and environmental information … investigate whether social disclosure and environmental disclosure substitute or complement each other in reducing information … findings suggest that social disclosure and environmental disclosure substitute each other in reducing stock market asymmetry …

Persistent link: https://www.econbiz.de/10008792907

Independent directors: less informed, but better selected? New evidence from a two-way director-firm fixed effect model

Cavaco, Sandra; Crifo, Patricia; Reberioux, Antoine; … - HAL - 2014

This paper develops a two-way director-firm fixed effect model to study the relationship between independent directors' individual heterogeneity and firm operating performance, using French data. This strategy allows considering and differentiating in a unified empirical framework mechanisms...

Persistent link: https://www.econbiz.de/10010899730

The effectiveness of IFRS 8: Operating Segments

Mantziou, Stamatina - HAL - 2013

' disclosure polices in the financial market, as well as the information asymmetry issues that may occur for a firm. More …

Persistent link: https://www.econbiz.de/10010821081