The subject matter on ethics has been recovered from philosophy due to the frequency that young executives show egotistic attitudes in detriment to concern towards others. This egocentric attitude leads to the vanishment of interest for the institution itself. On the other hand, the...

This paper develops two nonlinear cointegration models - a VECM with structural shift and a threshold cointegration model - applied to carbon spot and futures prices. The results extend the previous findings by Chevallier (2010), who studied this topic with a linear VECM. First, in the VECM with...

This paper analyzes jointly the time series of European Union Allowances (EUAs) and Certified Emissions Reductions (CERs) in a Markov regime-switching environment. The purpose consists in capturing the interactions between the two time series - which have been highlighted in previous literature...

EUAs are European Union Allowances traded on the EU Emissions Trading Scheme (EU ETS), while Certified Emissions Reductions (CERs) arise from the Clean Development Mechanism under the Kyoto Protocol. These emissions assets attract an increasing attention among brokers, investors and operators on...

This article develops a forecasting exercise of the volatility of EUA spot, EUA futures, and CER futures carbon prices (modeled after an AR(1)-GARCH(1,1)) using two dynamic factors as exogenous regressors that were extracted from a Factor Augmented VAR model (Bernanke et al. (2005)). The dataset...

This article documents the conditional and unconditional distributions of the realized volatility for the 2008 futures contract in the European climate exchange (ECX), which is valid under the EU emissions trading scheme (EU ETS). Realized volatility measures from naive, kernel-based and...

Cet article théorique cherche à réhabiliter le rôle de la transgression des règles dans l'organisation. Critiquant la condamnation systématique de tout phénomène transgressif par les sciences de gestion, nous cherchons à montrer qu'une partie du phénomène ne doit pas être compris...

La littérature sur les processus stratégiques utilise fréquemment la notion de décentralisation. Pourtant, celle-ci n’est pas définie de façon homogène et les processus décentralisés prennent de multiples formes. La décentralisation peut alors être envisagée de manière générique...

Suivant l’évolution des pratiques, la recherche en stratégie adopte de plus en plus souvent une perspective organisationnelle de la formation de la stratégie. De l’hypothèse réductrice d’un dirigeant omniscient et décideur solitaire, la littérature est passée en quelques temps à...