We investigate the link between employee ownership and price levels of stocks. Using a comprehensive sample of firms in the Société des Bourses Françaises (SBF) 120 Index from 2000 to 2007, we document a negative correlation between share price levels and employee ownership. This suggests...

Controlled firms are in a framework where private benefits create a buffer between public earnings and economic profitability. We focus on debt leverage in the type II agency conflict between the controlling shareholder and outside investors. We use a simple discrete model comparing the capital...

The study reported here focused on determining what methods financial analysts use for the valuation of Initial Public Offerings. The conclusion is that practices have moved with the times and that “real” considerations are more and more often used to obtain the market value of the firm. The...

This paper investigates the effect of foreign currency (FC) derivative use on shareholder value. Exposures are broken down by currency, by whether the currency is appreciating or depreciating and by whether exposures are symmetric or asymmetric. We find that derivatives are effective in reducing...

This article examines the contribution of the identification process in building up a community of practice. Despite the presence of artefacts and activities typical of the emergence of a common identity, the transformation of the network under study into a community of practice appears...

Cette revue de littérature pluridisciplinaire (management, économie, sociologie, sciences de l’information) s’intéresse aux caractéristiques, aux pratiques et aux rôles d’un acteur spécifique du champ de l’industrie culturelle : la critique de presse. Cette synthèse vise à...

The paper addresses the issue of rethinking the welfare state as a part of a broader national system of social protection (NSSP) and a mode of societal regulation. In order to overcome the theoretical limits of bottom-up comparative analysis of welfare states, one builds a structural model of...