Despite a large body of literature on the topic, empirical tests of real option models are scarce. The lack of data offers an initial explanation for this. However other intrinsic reasons could well explain why real options are difficult to test on large-scale studies. We show that the use of...

We define a coherent risk measures as set-valued maps satisfying some axioms. We show that this definition is a convenient extension of the real-valued risk measures introduced by Artzner, Delbaen, Eber and Heath (1998). We then discuss the aggregation issue, i.e. the passage from valued random...

"Bringing health through food to as many people as possible" - this is the strategic mission of the French Danone group who has become a leading actor in the food-processing industry: Danone is the world's number 1 for fresh dairy products, number 2 for infant nutrition and bottled waters, and...

As marketers love to teach students, differentiation must be the focal point of marketing strategy. But what happens when a firm's competitive set is shared by similar customers, perceived differentiation is weak among rivals, and loyalty is a thing of the past? This was the dilemma the French...

Outil pour comprendre le management des activités au sein de l'entreprise. Fournit une vision globale du fonctionnement opérationnel de l'entreprise (structure, organisation, activités) en se fondant plus précisément sur les actions du manager.

This paper surveys research on corporate governance, with special attention to the importance of legal protection of investors and of ownership concentration in corporate governance systems in Europe. One share-one vote encourages the selection of an efficient management team. Families are the...