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.

Hedonic and utilitarian consumer benefits of sales promotions

Abstract: A growing number of marketers and academics argue that sales promotions have a detrimental impact on brand equity, increase consumer sensitivity to price, and are inefficient and frequently unprofitable in the short term. These critics usually assume that monetary savings are the only benefit of sales promotions; thus they recommend every-day-low-pricing (EDLP) as a more efficient way to pass savings to the consumer. Ignored in this debate is the question of whether sales promotions have consumer benefits beyond monetary savings. In this report, authors Chandon, Wansink, and Laurent suggest that sales promotions actually offer consumers multiple benefits, both utilitarian and hedonic. They develop and test a multibenefit framework and, in two experiments, demonstrate that a promotion's effectiveness is determined by the range of benefits it delivers and the congruency these benefits have with the promoted product.

Impact of e-Government Interoperability in Local Governments

Abstract: Interoperability is a key concept for understanding the changes in progress in e-government. These changes are made gradually and with a phased implementation. The paper proposes conceptual frameworks to analyse actual practices and to guide the development of electronic administration. It stresses the need to consider different dimensions (political, organizational, human and technical) when implementing interoperable systems in local governments.

The Impact of Behavioral Factors in the Renewable Energy Investment Decision Making Process: Conceptual Framework and Empirical Findings

Abstract: Investments in renewable energy (RE) technologies are regarded with increasing interest as an effective means to stimulate growth and accelerate the recovery from the recent financial crisis. Yet, despite their appeal, and the numerous policies implemented to promote these technologies, the diffusion of RE projects remains somehow below expectations. This limited penetration is also due to a lack of appropriate financing and to a certain reluctance to invest in these technologies. In order to shed light on this phenomenon, in this paper we examine the decision making process underlying investments in RE technologies. We propose and test a conceptual model that examines the structural and behavioral factors affecting the investors decisions as well as the relationship between RE investments and portfolio performance. Applying econometric techniques on primary data collected from a sample of European investors, we study how the investors a-priori beliefs, their preferences over policy instruments and their attitude toward technological risk affect the likelihood of investing in RE projects. We also demonstrate that portfolio performance increases with an increase of the RE share in the portfolio. Implications for scholars, investors, technology managers and policy makers are derived and discussed.

On the dynamic interdependence of international stock markets: A Swiss perspective

Abstract: Cet article etudie les liens existant entre le marche des actions suisses et les cinq plus grands marches mondiaux (Etats-Unis, Japon, Grande-Bretagne, Allemagne et France) en terme de rentabilite et de volatilite. Nous trouvons que chaque marche presente de l'heteroscedasticite conditionnelle et que la volatilite conditionnelle reagit de facon asymetrique aux chocs passes. Afin de prendre en compte ces phenomenes de facon appropriee nous modelisons les relations entre marches a l'aide de modeles GARCH bivaries asymetriques. Les resultats de nos estimations montrent que le marche americain a la plus forte influence sur le marche helvetique en terme de rentabilite et de volatilite. Les liens avec les autres marches en termes de rentabilite sont relativement faibles. Les marches anglais et allemand ont egalement une forte influence sur le marche suisse en terme de volatilite. Enfin, nous trouvons que l'influence du marche suisse sur les autres marches est relativement faible.

Certify reproducibility with confidential data

Abstract: A trusted third party certifies that results reproduce Many government data, such as sensitive information on individuals' taxes, income, employment, or health, are available only to accredited users within a secure computing environment. Though they can be cumbersome to access, such microdata can allow researchers to pursue questions that could not be addressed with only public data (1). However, researchers using confidential data are inexorably challenged with regard to research reproducibility (2). Empirical results cannot be easily reproduced by peers and journal referees, as access to the underpinning data are restricted. We describe an approach that allows researchers who analyze confidential data to signal the reproducibility of their research. It relies on a certification process conducted by a specialized agency accredited by the confidential-data producers and which can guarantee that the code and the data used by a researcher indeed produce the results reported in a scientific paper.