Valuing Time: Moderate Download Times Can Improve Online Goal Pursuit


Journal of Consumer Psychology

avril 2009, vol. 19, n°2, pp.236-245

Départements : Marketing, GREGHEC (CNRS)

Venture Capital Performance: The Disparity Between Europe and the United States / Performances du capital risque : Les disparités entre l'Europe et les États-Unis

U. HEGE, F. Palomino, A. Schwienbacher


2009, vol. 30, n°1, pp.7-50

Départements : Finance, GREGHEC (CNRS)

Mots clés : VENTURE capital*CAPITALISTS & financiers*SYNDICATED loans*GOING public (Securities)*MARKET exitGeographic Terms:UNITED StatesEUROPE

Cet article compare les performances des investissements en capital risque aux États-Unis et en Europe au regard de la valeur créée au cours du cycle d'investissement par les entreprises financées par ces fonds en capital risque. Nous montrons que les entreprises financées par des investisseurs américains créent significativement plus de richesse que celles financées par des investisseurs européens. Nous trouvons des différences dans les contrats, notamment sur la fréquence des rounds d'investissement et sur la création de syndicats,et montrons que celles-ci expliquent partiellement les différences de performances. Nous trouvons aussi que les investisseurs américains investissant en Europe n'obtiennent pas de meilleures performances que les investisseurs européens. Les entreprises de pays européens ayant un système juridique de « Common Law » et celles de pays ayant un système juridique codifiè obtiennent des performances similaires. De même,le dêveloppement des marchês financiers et des aides à l'investissement en capital risque n'ont pas d'impact sur les performances. Les richesses cràes par les entreprises dont les investisseurs sont sortis lors d'une introduction en bourse sont identiques des deux cotàs de l'Atlantique. Par contre, concernant les sorties lors de ventes de grà à grà, les entreprises europàennes sous-performent les entreprises amàricaines. De manière globale,la sous-performance des investissements en capital risque en Europe relativement aux États-Unis est attribuÉe au segment des entreprises ayant obtenus des mauvaises performances.

Videography in Consumer Research; Visions for a Method on the Rise

K. DE VALCK, J. Hietanen, J. Rokka

Finanza Marketing e Produzione

2009, vol. 27, n°4, pp.81-101

Départements : Marketing, GREGHEC (CNRS)

Virtual Communities: A Marketing Perspective

K. DE VALCK, G. van Bruggen, B. Wierenga

Decision Support Systems

juin 2009, vol. 47, n°3, pp.185-203

Départements : Marketing, GREGHEC (CNRS)

Mots clés : Consumer decision process, Interpersonal influence, Marketing, Netnography, Virtual communities of consumption, Virtual community members, Virtual community participation word-of-mouth

Increasingly, consumers interact through the Internet to share their knowledge, experiences, and opinions. Consequently, 'word-of-mouse' has become a significant market force that influences consumer decision-making. On the basis of extensive quantitative and qualitative research, the authors sketch how consumers make use of virtual communities as social and information networks, and how this affects their decision-making processes. We present three studies that address (i) determinants and effects of virtual community influence on the consumer decision process; (ii) virtual community participation patterns; and (iii) discussion practices of the most active community members. Key implications for managers, marketers, and market researchers are discussed.Keywords: Consumer decision process; Interpersonal influence; Marketing; Netnography; Virtual communities of consumption; Virtual community members; Virtual community participation; Word-of-mouth

When is there state independence?


Journal of Economic Theory

mai 2009, vol. 144, n°3, pp.1119-1134

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

Whether a preference relation can be represented using state-independent utilities as opposed to statedependent utilities may depend on which acts count as constant acts. This observation underlies an extension of Savage's expected utility theory to the state-dependent case that was proposed in this journal by Edi Karni. His result contains a condition requiring the existence of a set of acts which can play the role of constant acts and support a representation involving a state-independent utility function. This paper contains necessary and sufficient conditions on the preference relation for such a set of acts to exist. Results are obtained both for the Savage and the Anscombe and Aumann frameworks. Among the corollaries are representation theorems for state-dependent utilities. Relationships to Karni's work and extensions of the results are discussed.Keywords: Subjective expected utility; State-dependent utility; Monotonicity axiom

Whence Brand Evaluations? Investigating the Relevance of Personal and Extrapersonal Associations in Brand Attitudes

D. Luna, S. CZELLAR, A. Schwob, B. Voyer

Advances in Consumer Research

2009, vol. 36, pp.681-682

Départements : Marketing

A recent conceptualization of the structure of attitudes proposes that people may hold associations that contribute to their personal attitudes about an object (personal associations) but also highly salient associations that do not contribute to their attitudes toward the object (extrapersonal associations; Olson and Fazio 2004). We conducted three studies with brands in the automobile industry to investigate the applicability of this new association typology to consumer attitude domains. Study 1 suggests the presence of extrapersonal associations for all brands investigated, by showing that some highly salient brand associations indeed contribute to brand attitudes but other similarly salient associations do not. Experimental data in Study 2 indicate that an individual difference, consumer expertise with the category, impacts the accessibility of personal associations in a brand evaluation context. Study 3 further strengthens the validity of the new typology by showing that it can meaningfully explain the different types of associations made accessible by persuasive messages. Taken together, our three studies provide strong support for Olson and Fazio's (2004) framework and highlight its value for a better understanding of the nature of the brand associations that shape consumer brand attitudes.

Wie in Europa Führungskräfte entlassen werden

M. SEGALLA, G. Jacobs

Harvard Business Manager

novembre 2009, n°200911006, pp.6-9

Départements : Management et Ressources Humaines, GREGHEC (CNRS)

Mots clés : Führungskräfte, Managers, Kündigung, Dismissal, EU-Staaten, EU countries

Will you cite me? The emerging strategy of academic publishing


European Journal of International Management

2009, vol. 3, n°4, pp.411-418

Départements : Management et Ressources Humaines, GREGHEC (CNRS)

Mots clés : Academic publishing, Management research, Journal quality, Citation analysis, Promotion criteria, Tenure criteria, Citations, Management journals, Business school professors, Performance measurement

This article introduces the research studies of 11, mostly young, European academics. Then it poses the question, will the work of these excellent young researchers be cited? In speculating about the future of their work, the wider question of using citation frequency to evaluate the performance of business school professors is discussed. Empirical data of published articles between 1990 and 2007 in the top five general management journals is analysed. The results of this examination suggest that (1) a dissemination bottleneck is being formed that slows down the exchange of research findings in a timely manner, (2) most articles published in the top five journals are not highly cited (median = 24, mean = 74, mode = 1), and (3) articles may need at least ten years after publication before reaching their maximum citation frequency

Y a-t-il une bulle immobilière en Chine (Is There a Realestate Bubble in China)?


Bulletin Economique Chine

octobre 2009, n°18, pp.1-4