HEC Paris

About: HEC Paris is a(n) education organization based out in Jouy-en-Josas, France. It is known for research contribution in the topic(s): Market liquidity & Entrepreneurship. The organization has 584 authors who have published 2756 publication(s) receiving 104467 citation(s). The organization is also known as: Ecole des Hautes Etudes Commerciales & HEC School of Management Paris.

PLS path modeling

Abstract: A presentation of the Partial Least Squares approach to Structural Equation Modeling (or PLS Path Modeling) is given together with a discussion of its extensions. This approach is compared with the estimation of Structural Equation Modeling by means of maximum likelihood (SEM-ML). Notwithstanding, this approach still shows some weaknesses. In this respect, some new improvements are proposed. Furthermore, PLS path modeling can be used for analyzing multiple tables so as to be related to more classical data analysis methods used in this field. Finally, a complete treatment of a real example is shown through the available software.

European guidance for the diagnosis and management of osteoporosis in postmenopausal women

Abstract: Summary Guidance is provided in a European setting on the assessment and treatment of postmenopausal women with or at risk from osteoporosis. Introduction The European Foundation for Osteoporosis and Bone disease (subsequently the International Osteopo- rosis Foundation) published guidelines for the diagnosis and management of osteoporosis in 1997. This manuscript updates these in a European setting. Methods The following areas are reviewed: the role of bone mineral density measurement for the diagnosis of osteoporo- sis and assessment of fracture risk; general and pharmaco- logical management of osteoporosis; monitoring of treatment; assessment of fracture risk; case finding strategies; investigation of patients; health economics of treatment. Results and conclusions A platform is provided on which specific guidelines can be developed for national use.

Earnings Management to Exceed Thresholds

Abstract: Earnings provide important information for investment decisions. Thus, executives--who are monitored by investors, directors, customers, and suppliers--acting in self-interest and at times for shareholders, have strong incentives to manage earnings. The authors introduce behavioral thresholds for earnings management. A model shows how thresholds induce specific types of earnings management. Empirical explorations identify earnings management to exceed each of three thresholds: report positive profits, sustain recent performance, and meet analysts' expectations. The positive profits threshold proves predominant. The future performance of firms suspect for boosting earnings just across a threshold is poorer than that of control group firms. Copyright 1999 by University of Chicago Press.

Is the correlation in international equity returns constant: 1960–1990?

Abstract: We study the correlation of monthly excess returns for seven major countries over the period 1960-90. We find that the international covariance and correlation matrices are unstable over time. A multivariate GARCH(1,1) model with constant conditional correlation helps to capture some of the evolution in the conditional covariance structure. However tests of specific deviations lead to a rejection of the hypothesis of a constant conditional correlation. An explicit modelling of the conditional correlation indicates an increase of the international correlation between markets over the past thirty years. We also find that the correlation rises in periods of high volatility. There is some preliminary evidence that economic variables such as the dividend yield and interest rates contain information about future volatility and correlation that is not contained in past returns alone.

Networked Narratives: Understanding Word-of-Mouth Marketing in Online Communities

Abstract: Word of mouth marketing — the intentional influencing of consumer-to-consumer communications — is an increasingly important technique. The authors overview and synthesize extant word of mouth theory and present a study of a marketing campaign in which mobile phones were seeded with prominent bloggers. Eighty-three blogs were followed for six months. Findings reveal the complex cultural conditions through which marketing “hype” is transformed by consumers into the “honey” of relevant, shared communications. Four word of mouth communication strategies are identified — evaluation, embracing, endorsement and explanation. Each is influenced by communicator narrative, communications forum, communal norms and the nature of the marketing promotion. An intrinsic tension between commercial and communal interests plays a prominent, normative role in message formation and reception. This “hype-to-honey” theory shows that communal word of mouth does not simply increase or amplify marketing messages. Rather, marketing messages and meanings are systematically altered in the process of embedding them. The theory has implications for how marketers should plan, target and benefit from word of mouth and how scholars should understand word of mouth in a networked world.