This paper aims at clarifying the relationship between institutional owners and firms' financial performance. We distinguish two categories of institutional investors: French and foreign. We examine also the nature of relations that may develop with firms. Our results for a sample of French...

The emergence of enterprise resource planning systems (ERP) has often been presented as one of the main factors of organizational change within companies in the course of the last few years. The neoclassical and socio-rational analyses show that ERP adoption is often a rational choice in that it...

This paper presents a simple framework for the analysis, valuation and simulation of several real options in the presence of shadow costs of incomplete information. Information costs can be viewed as sunk costs in the spirit of Merton's (1987) model of capital market equilibrium with incomplete...