We investigate the interactions between firms' financial policies and expected business cycles, in listed firms, in Europe, and over 20 years. We show that these interactions are mediated by ownership structures. Firms with strongly concentrated ownership, or under control, lead contra-cyclical...

In traditional financial theorizing, business cycles are of limited relevance for the understanding of capital structure mechanisms. A number of other dimensions are more important (agency costs, market timing, signaling, etc.), and business cycles proxies are not robust in empirical studies...

We provide a perspective on the contradiction provided by a rising culture-interest, and, the lack of a successful culture-paradigm in financial research. We emphasize how "culture-research" and financial research rest on strikingly different epistemological roots. Culture is concerned with...

We investigate the interactions between firms' financial policies and expected business cycles, in listed firms, in Europe, and over 20 years. We show that these interactions are mediated by ownership structures. Firms with strongly concentrated ownership, or under control, lead contra-cyclical...

The 2008 financial crisis has highlighted a series of inefficiencies in the financial system and raised the issue of the ethics of finance actors. Ethics has become a major issue for regulators and practitioners alike. This article investigates whether the academic community in finance has shown...

This accounts for a field experiment in the context of a MSc program aimed at fostering cooperation and group learning. Building on an opportunity brought about by a strongly increasing heterogeneity of the student intake, we developed a peer-review system over two years. The main aim of this...

In this research article, peer-reviewed academic journals in the area of finance have been screened to investigate the recent rise in interest for ldquo;cultural approachesrdquo;. The aim has been to let the definitions emerge from the screening process; thus, building a field-based analysis...

We investigate the determinants of Capital Structure in Europe and we implement a novel approach focusing on the relevance of manager's knowledge and behaviors for leverage ratios in aggregate. We show that this relevance is moderated by the governance structure of firms. Specifically we show...