Articles

A Legal Analysis of Packaging Standardisation Requirements Under EU Law - The Case of ‘Plain Packaging’ in the United Kingdom

A. ALEMANNO

Journal of Business Law

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Départements : Droit et fiscalité, GREGHEC (CNRS)


Alliance Formation and Firm Value

G. PACHECO DE ALMEIDA, L. CABRAL

Management Science

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Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : firm alliances, matching, competitive advantage


We consider the formation of alliances that potentially create complementarities, that is, when the value function is super-modular in firm resources. We show that, in a frictionless world where information is perfect and managers optimize, firm alliances disproportionately increase the value of high-resource-level firms, resulting in higher variance and higher skewness of the distribution of firm value; moreover, higher-value alliances are subject to regression to the mean at a faster rate. These effects are magnified if the degree of complementarities is endogenously determined by each firm’s investment. We also consider alliances where matching and/or information about firm resources are imperfect, and show that complementarities are a necessary but not sufficient condition for alliances to cause an increase in firm value; and that complementarities are neither a necessary nor a sufficient condition for alliances to be correlated with higher firm value

Ambiguity and the Bayesian Approach

I. GILBOA, M. MARINACCI

Advances in Economics and Econometrics: Theory and Applications

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


An analytic calculus for the intuitionistic logic of proofs

B. HILL, F. POGGIOLESI

Notre Dame Journal of Formal Logic

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


An Integrative Model of the Influence of Parental and Peer Support on Consumer Ethical Beliefs: The Mediating Role of Self-Esteem, Power and Materialism

E. GENTINA, L. SHRUM, T. LOWREY, S. VITELL, G. ROSE

Journal of Business Ethics

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Départements : Marketing, GREGHEC (CNRS)

Mots clés : Ethics, Adolescent consumers, Materialism, Self-esteem, Power, Peer support, Parental support


What causes adolescents to develop consumer’ ethical beliefs? Prior research has largely focused on the negative influence of peers and negative patterns of parent–child interactions to explain risky and unethical consumer behaviors. We take a different perspective by focusing on the positive support of parents and peers in adolescent social development. An integrative model is developed that links parental and peer support with adolescents’ self-worth motives, their materialistic tendencies, and their consumer ethical beliefs. In a study of 984 adolescents, we demonstrate support for a sequential mediation model in which peer and parental support is positively related to adolescents’ self-esteem and feelings of power, which are each associated with decreased materialism as a means of compensating for low self-worth. This reduced materialism is, in turn, associated with more ethical consumer beliefs

Bank Interest Rate Risk Management

G. VUILLEMEY

Management Science

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Départements : Finance, GREGHEC (CNRS)

Mots clés : Interest rate risk; Derivatives; Bank capital structure; Hedging


Empirically, bank equity value is decreasing in the interest rate. Yet (i) manybanks do not hedge interest rate risk and (ii) above 50% of hedging banks usederivatives to increase exposure. I model a bank’s capital structure, and showthat these facts are consistent with optimal hedging under financial frictions.Novel predictions on the characteristics of banks taking long or short interest ratederivative positions are tested, and supported by the data. Therefore, banks’derivatives exposures are not necessarily evidence of excessive risk-taking, andcan be explained by hedging in the presence of frictions. More broadly, theresults challenge the view that “hedging” and “speculative” positions can beidentified using the comovement between derivatives payoffs and equity value

Bouncing Back: Building Resilience Through Social and Environmental Practices in the Context of the 2008 Global Financial Crisis

M. DESJARDINE, P. BANSAL, Y. YANG

Journal of Management

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Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

Mots clés : organizational resilience; social and environmental practices; strategic and tactical practices; global financial crisis; survival analysis

http://journals.sagepub.com/doi/abs/10.1177/0149206317708854


Even though organizational researchers have acknowledged the role of social and environmental business practices in contributing to organizational resilience, this work remains scarce, possibly because of the difficulties in measuring organizational resilience. In this paper, we aim to partly remedy this issue by measuring two ways in which organizational resilience manifests through organizational outcomes in a generalized environmental disturbance—namely, severity of loss, which captures the stability dimension of resilience, and time to recovery, which captures the flexibility dimension. By isolating these two variables, we can then theorize the types of social and environmental practices that contribute to resilience. Specifically, we argue that strategic social and environmental practices contribute more to organizational resilience than do tactical social and environmental practices. We test our theory by analyzing the responses of 963 U.S.-based firms to the global financial crisis and find evidence that support our hypotheses

Building the legitimacy of whistleblowers: A multi-case discourse analysis

H. STOLOWY, Y. GENDRON, J. MOLL, L. PAUGAM

Contemporary Accounting Research

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Départements : Comptabilité et Contrôle de Gestion, GREGHEC (CNRS)

Mots clés : Whistleblowing; Fraud detection; Role definition; Discourse analysis; Legitimacy; Securities and Exchange Commission (SEC); Sarbanes-Oxley Act (SOX)


Evidence suggests society still does not view whistleblowers as wholly legitimate – despite legal protections now offered in some jurisdictions, such as the United States. Drawing on a discourse analysis, (i.e., an examination of statements), we investigate the well-publicized stories of seven whistleblowers from 69 sources, including books, first- and second-hand interviews, websites and videos. Our focus is to examine how whistleblower discourses can build legitimacy by more tightly defining the whistleblower role and demonstrating its alignment with social norms. Using whistleblower self-narratives, we identify four narrative patterns: (1) Trigger(s): the event(s) leading to whistleblowing; (2) Personality traits: whistleblower’s morality, resourcefulness, and determination; (3) Constraints: barriers requiring regulatory and organizational change; and (4) Consequences: the longer-term positive impact of the whistleblowing act. These patterns rely on symbolic, analogical, and metaphorical framing to allow others to better understand the role of whistleblowers and enlist their support. Exploring a dataset of 1,621 press articles, we find indications that these narrative patterns resonate in the media – which provide a form of support and may be instrumental in legitimizing the whistleblower role. Grounded on these results, we develop a legitimacy construction model of the whistleblower role, i.e., a representation of how role legitimacy is produced and sustained. From this model, we identify a number of important areas for future research

Can Innovation Help U.S. Manufacturing Firms Escape Import Competition from China?

J. HOMBERT, A. MATRAY

The Journal of Finance

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Départements : Finance, GREGHEC (CNRS)


We study whether R&D-intensive firms are more resilient to trade shocks. Wecorrect for the endogeneity of R&D using tax-induced changes to R&D cost. While rising imports from China lead to slower sales growth and lower profitability, these effects are significantly smaller for firms with a larger stock of R&D (by about half when moving from the bottom quartile to the top quartile of R&D). We provide evidence that this effect is explained R&D allowing firms to increase product differentiation. As a result, while firms in import-competing industries cut capital expenditures and employment, R&D-intensive firms downsize considerably less

Categorizing Institutional Logics, Institutionalizing Categories: A Review of Two Literatures

R. DURAND, P. THORNTON

Academy of Management Annals

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Départements : Stratégie et Politique d’Entreprise, GREGHEC (CNRS)

https://journals.aom.org/doi/pdf/10.5465/annals.2016.0089


This review assembles two highly referenced streams of research in organization and management studies over the past decade: institutional logics and categories. We present the gist of each literature focusing on the interaction within and between organizations vis-à-vis the institutional logics and category systems that condition behavior. Then, we suggest that both streams have compatible assumptions that warrant further integration, and suggest opportunities for future research stemming from (1) complementarities related to inter- and intra-audience variance, formation and recombination of logics and categories, and actors’ identity and (2) differences related to theory level of analysis, incorporation of conflict, and methods of analysis. Integration can lead to better specified mechanisms, processes, and contexts important to improving accuracy and development of these research streams


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