This paper compares the effectiveness of strict liability and capped strict liability regimes in an agency relationship among a regulatory agency and operators of risky activities. Under a double asymmetric information assumption (wealth and efficiency in care effort), it shows that capping...

The integration of the world economy has underlined the need for firms to exploit their intangible assets on a global scale. Firms' intangible assets include their stock of knowledge, which is related to ideas, research and development (R&D), patent and blueprints, scientific and technical...

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...

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...

This master dissertation consists of a literature review about the role of accounting information and the companies' disclosure polices in the financial market, as well as the information asymmetry issues that may occur for a firm. More specifically, we address the segment reporting issue. We...

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...

Corporations increasingly define their social and environmental initiatives and activities as part of their Corporate Social Responsibility (CSR). Disclosure practices have followed suit as well with social and environmental information typically being combined, often through a CSR report. The...

Humans often lie strategically. We study this problem in an ultimatum game involving informed proposers and uninformed responders, where the former can send an unverifiable statement about their endowment. If there are some intrinsically honest proposers, a simple message game shows that the...

In three related papers, we consider a pure exchange financial economy, where agents may observe private information signals, form private anticipations and face an "exogenous uncertainty", on the future state, and an "endogenous uncertainty", on the future prices. At a sequential equilibrium,...