A Comparative Study of French and U.S. Public Company governance: French Law That Coult Improve the Integrity of U.S. Financial Reporting

B. Fisher, F. LENGLART

New England Journal of International and Comparative Law

printemps 2007, vol. 13, n°2

Départements : Droit et fiscalité

A Minority Game with Bounded Recall


Mathematics of Operations Research

novembre 2007, vol. 32, n°4, pp.873-889

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

Mots clés : Folk theorem, de Bruijn sequence, Imperfect monitoring, Uniform equilibrium, Public equilibrium, Private equilibrium

This paper studies a repeated minority game with public signals, symmetric bounded recall, and pure strategies. We investigate both public and private equilibria of the game with fixed recall size. We first show how public equilibria in such a repeated game can be represented as colored subgraphs of a de Bruijn graph. Then we prove that the set of public equilibrium payoffs with bounded recall converges to the set of uniform equilibrium payoffs as the size of the recall increases. We also show that private equilibria behave badly: A private equilibrium payoff with bounded recall need not be a uniform equilibrium payoff

A non-technical guide to instrumental variables and regressor-error dependencies



2007, vol. 2, pp.3-20

Départements : Marketing, GREGHEC (CNRS)

A Queuing Framework for Routing Problems with Time-dependent Travel Times

H. Peremans, T. Van Woensel, N. Vandaele, L. KERBACHE

Journal of Mathematical Modelling and Algorithms

mars 2007, vol. 6, n°1, pp.151-173

Départements : Informations Systems and Operations Management, GREGHEC (CNRS)

Transportation is an important component of supply chain competitiveness since it plays a major role in the inbound, inter-facility, and outbound logistics. In this context, assigning and scheduling vehicle routing is a crucial management problem. Despite the existence of numerous publications dealing with efficient scheduling methods for vehicle routing, very few address the inherent stochastic nature of this problem. In this paper, a novel framework for modelling routing problems with time-dependent travel times due to potential traffic congestion is considered. The approach developed introduces mainly the traffic congestion component modelled through a queueing mode!. Standard test problems are used for illustrative purposes as well as for a discussion on the feasibility of proposed solutions if travel times are not constantKey words time-dependent routing problems - queueing - dynamic travel times

Accounting and the birth of the notion of capitalism


Critical Perspectives on Accounting

mars 2007, vol. 18, n°3, pp.263-296

Départements : Comptabilité et Contrôle de Gestion

The purpose of this paper is to cast a new light on the post-Sombartian debate. As we know, Sombart (Sombart W. Der Moderne Kapitalismus. M¨unchen, Leipzig: Duncker and Humbolt, 1916) thought that the invention of double-entry bookkeeping was essential to the birth of capitalism. Max Weber developed the same theme, but to a lesser extent. Accounting scholars have debated the idea quite extensively during the 20th century. All these previous works have in common the fact that they address the historical question by comparing accounting practices to business practices, some of which are interpreted as capitalist. In this paper, my aim is not so much to understand the birth of capitalism, but to contribute to some understanding of the birth of the concept of capitalism itself. The concept was forged during the 19th century. At that time, capitalism and a certain kind of double-entry bookkeeping practice that was able to highlight the circuit of capital were inextricably linked. It might be suggested that this historical situation greatly helped the scholars of the period to conceptualise what they called capitalism, and it is easy to show that the notion of capitalism itself is rooted in accounting notions. I will thus argue that the history of how the concept of capitalism was invented is an example of the influence of accounting ideas on economic and sociological thinkingKeywords: Capitalism; Accounting; Karl Marx; Werner Sombart; Double-entry bookkeeping

Adding exchange to charity: a reference price explanation

B. BRIERS, M. Pandelaere, L. Warlop

Journal of Economic Psychology

2007, vol. 28, n°1, pp.15-30

Départements : Marketing

Charities often request donations while offering a near-worthless token, like a key chain, in exchange. Little research has examined whether such 'exchange' requests are met with higher compliance rates than simply asking people to donate. Our studies suggest that in simple donation settings people may have difficulties in estimating a socially acceptable donation amount and therefore prefer opportunities that provide them with an anchor price. The value of a material good in a donation setting can play this anchoring role and signal a reference price. To the extent that the suggested reference price is low enough, exchange requests lead to more compliance than simple donation requests. However, our results indicate that, when accompanied by specified amounts, simple donation requests result in even better compliance rates than exchange requests. Keywords: Fund-raising; Donation behavior; Exchange; Reference price; Anchor

An Exploratory Study on Attitudes toward Luxury Products, Counterfeits and Imitations

B. KOCHER, B. Müller

Advances in Consumer Research

2007, vol. 34

Départements : Marketing

Analyst Hype in IPOs: Explaining the Popularity of Bookbuilding

F. Degeorge, F. DERRIEN, K. Womack

Review of Financial Studies

juillet 2007, vol. 20, n°4, pp.1021-1058

Départements : Finance, GREGHEC (CNRS)

The bookbuilding IPO procedure has captured significant market share from auction alternatives recently, despite the significantly lower costs related to the auction mechanism. In France, where both mechanisms were used in the 1990s, the ostensible advantages of bookbuilding were advertising-related benefits. Book-built issues were more likely to be followed and positively recommended by lead underwriters. Even nonunderwriters' analysts promote book-built issues more in order to curry favor with the IPO underwriter for allocations of future deals. Yet we do not observe valuation or post-IPO return differentials that suggest these types of promotion have any value to the issuing firm.

Antecedents of creative decision making in organizational crisis: A team-based simulation

A. SOMMER, C. Pearson

Technological Forecasting and Social Change

octobre 2007, vol. 74, n°8, pp.1234-1251

Départements : Management et Ressources Humaines, GREGHEC (CNRS)

Mots clés : Organizational crisis management, Teams, Decision making, Creativity

Although it has been claimed that the devastation and complexities that characterize an organizational crisis may be addressed most effectively with creative solutions, theoretical and empirical research examining this challenge is scarce. We developed a theoretical model concerning creative decision making during organizational crisis for crisis management teams. To test this theory, we collected data from 191 individuals in 37 teams who participated in multi-hour, multi-phased organizational crisis simulations in the United States and Canada. Using regression analysis, we found that crisis management teams generated a creative decision when they were familiar with solutions, trusted their team members, and had creative intentions. This study supports organizational efforts to leverage education, training and accountability to reinforce creativity in crisis decision making.Keywords: Organizational crisis management; Teams; Decision making; Creativity

Aspiration performance and railroads' patterns of learning from train wrecks and crashes

J. Baum, K. B. DAHLIN

Organization Science

2007, vol. 18, n°3, pp.368-285

Départements : Stratégie et Politique d’Entreprise