EDHEC Business School

About: EDHEC Business School is a education organization based out in Roubaix, France. It is known for research contribution in the topics: Portfolio & Capital asset pricing model. The organization has 294 authors who have published 1749 publications receiving 42687 citations. The organization is also known as: Ecole des Hautes Etudes Commerciales du Nord & EDHEC Business School.

Metrization of stochastic dominance rules

Abstract: We consider a new approach towards stochastic dominance rules which allows measuring the degree of domination or violation of a given stochastic order and represents a way of describing stochastic orders in general. Examples are provided for the n-th order stochastic dominance and stochastic orders based on a popular risk measure. We demonstrate how the new approach can be used for construction of portfolios dominating a given benchmark prospect.

The self-creation effect: making a product supports its mindful consumption and the consumer’s well-being

Abstract: Popular cultural movements such as Slow Food and the Maker Movement emphasize product self-creation―personally creating products, then consuming them, as a core value. We present the first research to examine how product self-creation affects the individual’s consumption experience of such products and their well-being. Seven field and lab studies provide evidence that when consumers self-create a product, they appreciate it to a greater degree, are likely to consume it more mindfully, and experience greater domain-specific and general well-being. The individual’s private self-consciousness strengthens the effect. Self-creating products offers consumers with a practical, versatile, and personal interest-driven way to transcend their traditional role, to consume more consciously and sustainably, while concurrently enhancing the enjoyment of their consumption experience.

Identification and economic analysis of governance mechanisms in legally registered mafia firms

Abstract: The Mafias, which are considered to be the most sophisticated form of criminal organization, do not confine their activities to illicit trafficking. They also develop businesses in the lawful economic sphere. The economic impact of such businesses can be striking: the assets owned by Italian Mafia families in 1999 and 2000 were estimated at €5.2bn in the retail and tourism industries, €4.2bn in services, €7.8bn in import and export trade activities, €3.12bn in the construction industry, €13.1bn in finance, €2.6bn in the insurance business, and €10.5bn in real-estate activities (Confcommercio, 1999, 2000). In 2011, the global revenues generated by Italian Mafia businesses reached €140bn, which accounts for 5% of Italy’s GDP. In Japan, meanwhile, light was shed on the penetration of the Yakuza clans in the lawful economy during the burst of the real-estate bubble at the beginning of the 1990s. According to the Japanese authorities, 30% of the US$600bn of unrecovered loans made by local banks was granted to legally registered firms controlled by Yakuza clans.