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Nominal Uniqueness and Money Non-neutrality in the Limit-Price Exchange Process
Giraud, Gaël; Tsomocos, Dimitrios P. - HAL - 2010
nominal variables. Money is not neutral, either in the short-run or long-run, and a localized version of the quantity theory … towards Pareto optimal rest-points. Below this growth rate, the economy enters a (sub-optimal) liquidity trap where monetary … policy is ineffective ; above this threshold inflation rises. Finally, market liquidity, measured through the speed of real …
Persistent link: https://www.econbiz.de/10010603678
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La RSE comme instrument de la gouvernance d'entreprise
Cézanne, Cécile; Rubinstein, Marianne - HAL - 2010
Après avoir mis en évidence les problèmes de gouvernance posés par la " nouvelle firme ", désintégrée verticalement et intensive en capital humain, nous avançons que la responsabilité sociale de l'entreprise (RSE) peut servir à réguler les rapports de force entre les partenaires...
Persistent link: https://www.econbiz.de/10009323659
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Private Equity investment performance : Do social ties between venture capitalists and CEOs matter
Bonnet, Christophe - HAL - 2001
the frequently used agency theory perspective by way of a social and behavioural perspective. Whereas agency theorists …
Persistent link: https://www.econbiz.de/10010549128
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The Role of CSR in the Governance of the "New firm": an Empirical Study of the French Telecommunications Industry
Cézanne, Cécile; Rubinstein, Marianne - HAL - 2011
The aim of this paper is to propose an instrumental analysis of corporate social responsibility (CSR). After underlining the corporate governance issues raised by the "new firm", which is vertically disintegrated and intensive in specific human capital, we argue that CSR can be useful as a means...
Persistent link: https://www.econbiz.de/10011026119
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French connection: interlocking directorates and the ownership-control nexus in an insider governance system
Auvray, Tristan; Brossard, Olivier - HAL - 2013
We reveal the non-separation of ownership and control for multiple blockholders in the French insider governance system. We show that overlapping directorships of large listed corporations are explained by their ownership connections. Both large and small stakes, from 20% to 1% of cash-flow...
Persistent link: https://www.econbiz.de/10011026197
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Corporate governance, value and performance of firms: New empirical results on convergence from a large international database
Krafft, Jackie; Qu, Yiping; Quatraro, Francesco; Ravix, … - HAL - 2013
implications of this adoption. We examine theoretical questions related to conventional models (agency theory, transaction cost … economics, new property rights theory),which tend to suggest rational adoption of best practice, and contributions that …
Persistent link: https://www.econbiz.de/10010607938
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Do Interactions between Finance and Labor Market Institutions Affect Wage Distribution ?
Darcillon, Thibault - HAL - 2012
This article analyzes the linkages between financial liberalization, labor market institutions and wage inequality for 17 OECD countries over the 1989 to 2005 period. With the help of a fixed effect model with an interacted term, one crucial contribution of this article is to analyze the...
Persistent link: https://www.econbiz.de/10010635072
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Political Partisanship and Financial Reforms in Advanced Countries
Darcillon, Thibault - HAL - 2011
Applying regressions on a sample of 18 OECD countries from 1970 to 2009 using new indicators, we find that right-wing governments liberalize more the financial sector that left-wing governments. We show that if a left-wing government accepts to liberalize the financial sector, an increase of...
Persistent link: https://www.econbiz.de/10010635127
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Founder-CEO values, the conception of ownership and governance models illustrated in a case study of Auchan
Laurent, Bernard; Wirtz, Peter - HAL - 2013
determining ownership structures and corporate governance mechanisms. We take the Upper-Echelons Theory as our central premise …
Persistent link: https://www.econbiz.de/10010618172
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Ownership Structure and Debt Leverage: Empirical Test of a Trade-Off Hypothesis on French Firms
Bruslerie, Hubert De La; Latrous, Imen - HAL - 2012
Debt may help to manage type II corporate agency conflicts because it is easier for controlling shareholders to modify the leverage ratio than to modify their share of capital. A sample of 112 firms listed on the French stock market over the period 1998-2009 is empirically tested. It supports an...
Persistent link: https://www.econbiz.de/10010820683