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Full Disclosure in Decentralized Organizations

Hagenbach, Jeanne; Koessler, Frédéric - HAL - 2011

We characterize sufficient conditions for full and decentralized disclosure of hard information in organizations with asymmetrically informed and self interested agents with quadratic loss functions. Incentive conflicts arise because agents have different (and possibly interdependent) ideal...

Persistent link: https://www.econbiz.de/10010930240

Certifiable Pre-Play Communication: Full Disclosure

Hagenbach, Jeanne; Koessler, Frédéric; Perez-Richet, … - HAL - 2012

This article asks when communication with certifiable information leads to complete information sharing. We consider Bayesian games augmented by a pre-play communication phase in which announcements are made publicly. We characterize the augmented games in which there exists a full disclosure...

Persistent link: https://www.econbiz.de/10010738802

Financial Disclosure and the Board: Is Independence of Directors Always Efficient

Reberioux, Antoine; Biondi, Yuri; Pierpaolo, Giannoccolo - HAL - 2009

In listed companies, the Board of directors is the ultimate responsible of information disclosure. The "conventional wisdom" considers independence of directors as the essential attribute to improve the quality of that disclosure. In a sense, this approach subordinates expertise to independence....

Persistent link: https://www.econbiz.de/10008791759

Putting Structure on the RD Design: Social Transfers and Youth Inactivity in France

Bargain, Olivier; Doorley, Karina - HAL - 2014

Natural experiments provide explicit and robust identifying assumptions for the estimation of treatment effects. Yet their use for policy design is often limited by the difficulty in extrapolating on the basis of reduced-form estimates of policy effects. On the contrary, structural models allow...

Persistent link: https://www.econbiz.de/10010933893

Student loans: Liquidity constraint and higher education in South Africa

Gurgand, Marc; Lorenceau, Adrien; Mélonio, Thomas - HAL - 2011

Empirical evidence that access to higher education is constrained by credit availability is limited and usually indirect. This paper provides direct evidence by comparing university enrollment rates of South African potential students, depending on whether they get a loan or not to cover their...

Persistent link: https://www.econbiz.de/10010929086

Spouses' Retirement and Hours of Work Outcomes : Evidence from Twofold Regression Discontinuity

Stancanelli, Elena - HAL - 2012

Earlier studies conclude that spouses time their retirement closely together. Here, we exploit early retirement age legislation to identify the effect of own and spousal retirement on spouses' hours of work. The sample for the analysis includes over 85000 French couples. We conclude that hours...

Persistent link: https://www.econbiz.de/10010635101

Joint Leisure Before and After Retirement : a double Regression Discontinuity Approach

Stancanelli, Elena; Soest, Arthur Van - HAL - 2012

The economic litterature on retirement argues that individuals in a couple tend to retire at a choice time because of externalities in leisure. Ealier studies dit not investigate the extent to which partners actually spend more leisure time together upon retiring. Exploiting the law on early...

Persistent link: https://www.econbiz.de/10011025656

Household Consumption at Retirement: A Regression Discontinuity Study on French Data

Moreau, Nicolas; Stancanelli, Elena - HAL - 2013

Earlier literature has investigated the drop in household consumption upon retirement of the head of the household, the so-called "retirement consumption puzzle". Here, we expand on these studies by considering also retirement of the wife, thus distinguishing households in which the wife is a...

Persistent link: https://www.econbiz.de/10011025698

Energy consumption, economic growth and CO2 emissions in Middle East and North African countries

Arouri, Mohamed El Hedi; Youssef, Adel Ben; M'Henni, Hatem - HAL - 2012

growth over the period 1981-2005. The econometric relationships derived in this paper suggest that future reductions in CO2 …

Persistent link: https://www.econbiz.de/10010933128

Energy use and Economic Growth in Africa: A Panel Granger-Causality Investigation

Arouri, Mohamed El Hedi; Youssef, Adel Ben; M'Henni, Hatem - HAL - 2014

We make use of a bootstrap panel analysis of causality between energy use and economic growth for a sample of sixteen … African countries over the period 1988-2010. Our results show that growth and energy use are strongly linked in Africa …. However, African countries are heterogeneous and there is no "one way" recommendation about energy-growth relationship that …

Persistent link: https://www.econbiz.de/10010933129

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