HEC Paris

About: HEC Paris is a education organization based out in Jouy-en-Josas, France. It is known for research contribution in the topics: Investment (macroeconomics) & Market liquidity. 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.

The taxation of trades in assets

Abstract: When the asset market is incomplete, there typically exist taxes on trades in assets and a redistribution of revenue in the asset market that are Pareto improving. The policy is anonymous, it economizes on complexity, and it results in ex post Pareto optimal allocations; it is publicly announced before markets open, thus fully and correctly anticipated by traders, it does not require that financial markets be shut down, and it does not modify the asset market structure. As such, it improves over previously proposed constrained interventions.

La porosité des temps chez les cadres : Proposition d'un modèle d'interactions entre temps personnel et temps professionnel

Abstract: Les cadres en France forment une categorie de salaries qui a connu de profondes destabilisations ces vingt dernieres annees : la feminisation, la montee des experts, l'experience du chomage, l'effritement du contrat de confiance avec l'entreprise, sont autant d'elements qui ont bouleverse le modele traditionnel de la disponibilite " totale " L'idee parait alors avec force que les articulations entre le travail et les autres temps de la vie (temps familial, temps de loisir, etc) constituent un nouvel enjeu pour les cadres et pour les directions des ressources humaines Parallelement, le repositionnement du role des cadres dans l'entreprise, l'acceleration du rythme des mutations technologiques et organisationnelles, contribuent a rendre de plus en plus tenue la frontiere entre travail et hors travail En consequence, nous proposons de developper le concept de porosite des temps - qui correspond au phenomene de superposition et d'interference entre les temporalites personnelles et les temporalites professionnelles, et reciproquement - pour donner un nouvel eclairage aux relations entre temps professionnel et temps personnel chez les cadres Notre objectif est d'identifier differents types de porosite des temps et d'en comprendre les determinants Parmi ces determinants, la dimension du genre apparait tout a fait fondamentale, ainsi, une comparaison systematique entre la porosite des temps chez les femmes et chez les hommes est effectuee La methodologie utilisee est a la fois qualitative et quantitative Apres une trentaine d'entretiens semi directifs, nous avons construit et valide un questionnaire pour mesurer la porosite des temps et ses determinants (150 questionnaires) Quatre types de porosite des temps sont identifies Les resultats confirment que la porosite des temps est un phenomene largement sexue La porosite des temps des femmes cadres est principalement correlee au niveau hierarchique et a la remuneration La porosite des temps chez les hommes cadres est egalement liee aux caracteristiques du poste occupe mais s'explique surtout par une attitude positive face au travail a domicile et a la disponibilite

Reformulation of a Model for Hierarchical Divisive Graph Modularity Maximization

Abstract: Finding clusters, or communities, in a graph, or network is a very important problem which arises in many domains. Several models were proposed for its solution. One of the most studied and exploited is the maximization of the so called modularity, which represents the sum over all communities of the fraction of edges within these communities minus the expected fraction of such edges in a random graph with the same distribution of degrees. As this problem is NP-hard, a few non-polynomial algorithms and a large number of heuristics were proposed in order to find respectively optimal or high modularity partitions for a given graph. We focus on one of these heuristics, namely a divisive hierarchical method, which works by recursively splitting a cluster into two new clusters in an optimal way. This splitting step is performed by solving a convex quadratic program. We propose a compact reformulation of such model, using change of variables, expansion of integers in powers of two and symmetry breaking constraints. The resolution time is reduced by a factor up to 10 with respect to the one obtained with the original formulation.

The Role of Knowhow Acquisition in the Formation and Duration of Joint Ventures

Abstract: We analyze the role of knowhow acquisition in the formation and duration of joint ventures. Two parties become partners in a joint venture in order to benefit from each other's knowhow. Joint operations provide each party with the opportunity to acquire part of its partner's knowhow. A party's increased knowhow provides the impetus for the dissolution of the joint venture. We characterize the conditions under which dissolution takes place, identify the party that buys out its partner, determine the time to dissolution, establish its comparative statics, and examine the implications of knowledge acquisition for the desirability of joint venture formation.