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Institution

HEC Paris

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


Papers
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Journal ArticleDOI
TL;DR: In this paper, the average cost optimality equation is applied to zero-sum Markov games by considering a simple game with one-sided incomplete information that generalizes an example of Aumann and Maschler.
Abstract: We apply the average cost optimality equation to zero-sum Markov games by considering a simple game with one-sided incomplete information that generalizes an example of Aumann and Maschler [Aumann, R. J., M. B. Maschler. 1995. Repeated Games with Incomplete Information. MIT Press, Cambridge, MA]. We determine the value and identify the optimal strategies for a range of parameters.

30 citations

Journal ArticleDOI
TL;DR: In this paper, the authors conducted an empirical study of banks' risk management systems based on non-anonymous daily Value-at-Risk (VaR) and profit-and-loss data.
Abstract: This paper is the first empirical study of banks' risk management systems based on non-anonymous daily Value-at-Risk (VaR) and profit-and-loss data. Using actual data from the six largest Canadian commercial banks, we uncover evidence that banks exhibit a systematic excess of conservatism in their VaR estimates. The data used in this paper have been extracted from the banks' annual reports using an innovative Matlab-based data extraction method. Out of the 7,354 trading days analyzed in this study, there are only two exceptions, i.e., days when the actual loss exceeds the disclosed VaR, whereas the expected number of exceptions with a 99% VaR is 74. For each sample bank, we extract from historical VaRs a risk-overstatement coefficient, ranging between 19% and 79%. We attribute VaR overstatement to several factors, including extreme cautiousness and underestimation of diversification effects when aggregating VaRs across business lines and/or risk categories. We also discuss the economic and social cost of reporting inflated VaRs.

30 citations

Journal ArticleDOI
TL;DR: In this article, the authors investigate the effects of coping strategies for loneliness on adolescents' adoption of unethical behaviors, a topic that business ethics research has not explored, and they show that whether loneliness leads to the adoption of ethical consumption behaviors depends on the strategies adolescents use to cope with their loneliness.
Abstract: Engaging in unethical consumption behaviors is an acute societal problem that can have severe consequences for adolescents, and businesses in particular have been accused of making such consumption particularly appealing and accessible. However, the causes of unethical behaviors are not well understood and research on the causes has been mixed. In this research, we investigate the effects of coping strategies for loneliness on adolescents’ adoption of unethical behaviors, a topic that business ethics research has not explored. In a large-scale study (n = 409) of adolescents (ages 13–17), we show that whether loneliness leads to the adoption of unethical behaviors depends on the strategies adolescents use to cope with their loneliness: active coping strategies are associated with fewer unethical behaviors, whereas passive coping strategies are associated with more unethical behaviors. In addition, we show that active and passive coping strategies can be executed through consumption practices. We show that the relation between active coping and fewer unethical behaviors is mediated by sharing of possessions, whereas the relation between passive coping strategies and more unethical behaviors is mediated by product acquisition. Finally, we also show that these mediated relations differ as a function of age cohort (grade level). The indirect effect of active coping on fewer unethical behaviors via sharing holds only for middle school adolescents, whereas the indirect effect of passive coping on more unethical behaviors via product acquisition holds only for high school adolescents. We shed new light on both the bright and dark sides of materialism and unethical behaviors and provide practical implications for research on loneliness, business ethics, and unethical behaviors.

30 citations

Journal ArticleDOI
Alberto Alemanno1
TL;DR: In the case of COVID-19, Member States adopted their own different, uncoordinated and at times competing national responses according to their distinctive risk analysis frameworks, with little regard for the scientific and management advice provided by the European Union (EU), notably its dedicated legal framework for action on cross-border health threats as discussed by the authors.
Abstract: Due to its borderless nature, COVID-19 has been a matter of common European interest since its very first detection on the continent. Yet this pandemic outbreak has largely been handled as an essentially national matter. Member States adopted their own different, uncoordinated and at times competing national responses according to their distinctive risk analysis frameworks, with little regard1 for the scientific and management advice provided by the European Union (EU), notably its dedicated legal framework for action on cross-border health threats.2 To justify such an outcome as the inevitable consequence of the EU’s limited competence in public health is a well-rehearsed yet largely inaccurate argument3 that calls for closer scrutiny.

30 citations

Journal ArticleDOI
TL;DR: In this article, the exploratory unit in an established multidivisional firm pursued the development of discontinuous innovation and generated several actual breakthroughs, highlighting four key factors that enhanced knowledge combination: (i) the definition of the scope of the unit, (ii) the composition of unit and the dual roles of its members, (iii) the boundary objects that supported the interactions between these members during the creativity process, and (iv) the arenas where new knowledge was further created.
Abstract: The literature on innovation management underlines the necessity to separate the exploratory unit that builds new businesses on the basis of radical innovation from the exploitation unit that emphasizes continuous improvement. However, little research focuses on the exploratory unit in itself: the very nature of its activity, its composition, etc. The aim of this article is to analyse the exploratory unit in mobilizing results highlighted by research on organizational creativity. It is argued that in order to enhance discontinuous innovation, knowledge combination should occur and be facilitated in the exploratory unit. Hence, the research question is what organizational design at a fine-grained level and creativity processes are likely to enhance knowledge combination and thus discontinuous innovation? Based on an in-depth study of an exploratory unit created in an established multidivisional firm pursuing the development of discontinuous innovation and which generated several actual breakthroughs, we highlighted four key factors that enhanced knowledge combination: (i) the definition of the scope of the unit, (ii) the composition of the unit and the dual roles of its members, (iii) the boundary objects that supported the interactions between these members during the creativity process, and (iv) the arenas where new knowledge was further created.

30 citations


Authors

Showing all 605 results

NameH-indexPapersCitations
Sandor Czellar133126391049
Jean-Yves Reginster110119558146
Pierre Hansen7857532505
Gilles Laurent7726427052
Olivier Bruyère7257924788
David Dubois5016912396
Rodolphe Durand4917310075
Itzhak Gilboa4925913352
Yves Dallery471706373
Duc Khuong Nguyen472358639
Eric Jondeau451557088
Jean-Noël Kapferer4515112264
David Thesmar411617242
Bruno Biais411448936
Barbara B. Stern40896001
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Performance
Metrics
No. of papers from the Institution in previous years
YearPapers
20239
202233
2021129
2020141
2019110
2018136