Business in pre-industrial Europe was predominantly commercial, and its organization served the two basic requirements of commerce-representation in distant markets and financing. The various forms of organization included the sea loan, commenda, the share venture, the joint stock company, the...

In the late nineteenth century Britain had almost no mandatory shareholder protections, but had very developed financial markets. We argue that private contracting between shareholders and corporations meant that the absence of statutory protections was immaterial. Using circa 500 articles of...

This paper examines the management issues faced by a businessman in pre-industrial Europe and how he addressed those issues. Management focused on four main areas - managing agents (personnel); financial management; risk management; and information management (communications and accounting)

Cette etude portant sur les aspects ideo-logiques des accords de cooperation permet de souligner l'importance du discours sur et a propos des strategies de cooperation. Elle identifie les principales limites des discours mis en oeuvre a propos des accords de cooperation de l'echantillon dans une...

The research presented in this paper aims at showing the "failure path" of firms over the five years preceding their default, based on the chronological analysis of a sample of published financial statements of both failing and non failing firms.

This article aims at highlighting the issue of recognition and valuation of assets in the relationship between earnings management and financing choices. This issue has been addressed from a historical approach. The use of history is justified by the characteristics of the period: opening...

Pour une entreprise, le maintien d’une croissance soutenue pendant une longue période est délicat. Il suppose, outre des conditions de marché favorables, un pilotage du rythme de développement adapté aux contraintes financières.

Selon les travaux de Hamada (1972), Ryan (1997) et Pae (2002), l’incertitude des investisseurs sur la valeur est liée aux sources de risques sectoriels et inhérents. Depuis, peu de travaux se sont intéressées à la relation entre les informations liées aux sources de risques et le marché...