Articles

How Do Firm Political Connections Impact Foreign Acquisitions? The Effects of Decision Makers’ Political and Firm Embeddedness

P. DUSSAUGE, R. ANAND, J ALBINO PIMENTEL

Global Strategy Journal

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


How Much Do Means Tested Benefits Reduce the Demand for Annuities?

Monika BUTLER, K. PEIJNENBURG, Stefan STAUBLI

Journal of Pension Economics and Finance

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Départements : Finance, GREGHEC (CNRS)

Mots clés : Means-Tested Benefits, Occupational Pension, Annuity


We analyze the effect of means-tested benefits on annuitization decisions using an administrative dataset of pension wealth cash-out choices. Availability of means-tested payments creates an incentive to cash out pension wealth for low and middle income earners, instead of taking the annuity. Agents trade off the advantages from annuitization, receiving longevity risk insurance, to the disadvantages, giving up “free” wealth in the form of means-tested supplemental income. Our life-cycle model demonstrates that the availability of means-tested benefits substantially reduces the desire to annuitize especially for low and intermediate levels of pension wealth. In our empirical analysis we show that the model’s predicted fraction of retirees choosing the annuity is able to match the annuitization pattern of occupational pension wealth observed in Switzerland

Impact of Average Rating on Social Media Endorsement: The Moderating Role of Rating Dispersion and Discount Threshold

X. LI

Information Systems Research

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


Introduction to Global Law, Legal Indicators and Legal Pragmatism

D. RESTREPO AMARILES

Journal of Legal Pluralism and Unofficial Law

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Départements : Droit et fiscalité


Inventory allocation models for a two-stage, twoproduct, capacitated supplier and retailer problem with random demand

K. LUO, R. BOLLAPRAGADA, L. KERBACHE

International Journal of Production Economics

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

Mots clés : supply chain management, inventory management, capacity allocation, heuristic methods

http://ac.els-cdn.com/S0925527316303930/1-s2.0-S0925527316303930-main.pdf?_tid=e3dcdf78-c36d-11e6-ab1d-00000aacb362&acdnat=1481878922_0f8e1cce572aa5799576c97c7d14f216


The objective of this research is to develop an optimal inventory allocation methodology for a supply chain consisting of a capacitated retailer with limited shelf space, and two unreliable capacitated suppliers in an uncertain environment. We develop conceptual and analytical models that provide allocation preferences between shelf-space and warehouse in both deterministic and stochastic demand cases, and develop managerial insights based on them. For each case, we provide both a closed-form solution and a heuristic method, and illustrate the bounds on the optimal solution. Further, we show that the cost function is L-convex in some cases. Finally, we prove that the expected profit decreases as the variance of demand increases

James Elliott Construction (C-613/14) : A "New(ish) Approach" to judicial review of standardization

A. VAN WAEYENBERGE, D. RESTREPO AMARILES

European Law Review

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Départements : Droit et fiscalité, GREGHEC (CNRS)


Leadership and the Logic of Absurdity

D. NEWARK

Academy of Management Review

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Départements : Management et Ressources Humaines

http://amr.aom.org/content/early/2017/02/02/amr.2015.0186.abstract


Leaders are often thought to be instrumental to the performance of the organizations they lead. However, considerable research suggests that their influence over organizational performance might actually be minimal. These claims of leader irrelevance pose a puzzle: If leaders are relatively insignificant, why would someone commit to leading? Applying decision-making theory, this paper first considers justifying the decision to lead according to the Logics of Consequence and Appropriateness—the two principal decision-making logics underlying previous work on the motivation to lead. The paper then presents the Logic of Absurdity, a decision-making logic in which decision-makers knowingly choose to dedicate themselves to an irrational course of action. In terms of the decision to lead, a decision-maker employing the Logic of Absurdity acknowledges the likely futility of leading but decides to commit to leading, nonetheless. The paper concludes by considering when leaders are most likely to decide to lead according to the Logic of Absurdity and why doing so may result in leadership of exceptional originality, foolishness, intelligence, and madness

Leveraging strengths to learn, grow, and change: An evidence-based approach to development

S. FOSTER, R. WHITE, L. CLARK, G. DAI, P. LLOYED

Consulting Psychology Journal: Practice & Research

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Life-Cycle Asset Allocation with Ambiguity Aversion and Learning

K. PEIJNENBURG

Journal of Financial and Quantitative Analysis

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Départements : Finance, GREGHEC (CNRS)


Marking to Market and Inefficient Investment Decisions

C. OTTO, P. F. VOLPIN

Management Science

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Départements : Finance, GREGHEC (CNRS)

Mots clés : Marking to Market, Investment Decisions, Reputation, Agency Problem


We examine how mark-to-market accounting affects the investment decisions of managers with reputation concerns. Reporting the current market value of a firm's assets can help mitigate agency problems because it provides outsiders (e.g., shareholders) with new information against which the management's decisions can be evaluated. However, the fact that the assets' market value is informative can also have a negative side effect: Managers may shy away from investments that indicate conflicting private information and would damage their reputation. This effect can lead to inefficient investment decisions and make marking to market less desirable when market prices are more informative


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