This article investigates firms’ banking and pooling behaviors in the context of the EU Emissions Trading Scheme (EU ETS) during Phase I (2005-2007). It provides an overview of the questions raised at the firm-level by the introduction and implementation of the EU trading system in terms of...

The fuzzy set approach has progressively been introduced into many areas of organisational science in order to compensate for certain inadequacies in traditional tools. Indeed behaviourists and expected utility researchers have long been studying the role of ambiguity and vagueness in the human...

Purpose of the paper: Risk orientated disclosure is a focal issue of corporate communication. Many provisions have been implemented in the USA and in Europe to promote transparency about risks faced by companies, especially by quoted ones. The increase of mandatory risk reporting applying to...

Risk orientated disclosure is a focal issue of corporate communication. Many provisions have been implemented in the USA and in Europe to promote transparency about risks faced by companies, especially by quoted ones. The increase of mandatory risk reporting applying to companies leads to the...

L'automobile a conquis le monde. Instrument de liberté, pourvoyeur d'emplois et de croissance, objet souvent statutaire, l'automobile traverse une crise en Europe notamment. Son succès est désormais planétaire mais quel est son avenir ? Sera-t-elle demain aussi désirée qu'hier ? Pour...

This article investigates the modelling of the convenience yield in the European carbon market by using daily and intradaily measures of volatility. The convenience yield stems from differences in spot and futures prices, and can explain why firms hold inventories. The main findings are that (i)...

The article develops R.H.Coase's insight that the level of transaction costs in the market determines the amount of externalities, thus providing arguments against government intervention. Contrary to Coase, however, we argue that the level of transaction costs cannot be considered as given, and...