The arrival of the Internet offers new opportunities for value creation. The new technology simultaneously affects demand and cost structures, leading to a radical transformation of existing market structures. As a result, appropriation of any value created has become more challenging....

This paper looks at the value generated to shareholders by the announcement of mergers and acquisitions involving firms in the European Union. Target firm shareholders receive on average a statistically significant excess return of 9%. Acquirers' excess returns are null on average. Excess...

This paper contains 100 questions that students, alumni and other persons (judges, arbitrageurs, clients¿) have posed to me over the past years. They were recompiled so as to help the reader remember, clarify and, in some cases, discuss some useful concepts in finance. Most of the questions...

Strategic alliances (SAs) present both a high value creation potential as well as entailing high management costs. Research on SA duration has generally focused on factors that affect management costs. The underlying logic in these papers is that factors that increase management costs reduce the...

Social entrepreneurship is a phenomenon that has resisted attempts to establish a clear definition. A focus on organizational structures and/or what constitutes a worthy social cause has created a diverse set of terminology. Observing the positive social impact of entrepreneurs catering to basic...

We explore the relationship between the probability of a transition from paid work to self-employment and three explanatory variables: paid income, predicted income, and income for ability. We use panel data for heads of households from the PSID SRC sample for eight pairs of years. Our results...

We highlight business model innovation as a way for general managers and entrepreneurs to create and appropriate value, especially in times of economic change. Business model innovation, which involves designing a modified or new activity system, relies on recombining the existing resources of a...