Institution
HEC Paris
Education•Jouy-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: 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.
Topics: Investment (macroeconomics), Market liquidity, Corporate governance, Entrepreneurship, Portfolio
Papers published on a yearly basis
Papers
More filters
••
TL;DR: In this paper, the authors empirically analyzed several potential explanations for the underreporting of income by entrepreneurs and found that after correcting for income underreporting, the mean financial gain to entrepreneurship is positive and large, greater than 42%.
99 citations
••
TL;DR: In this paper, the authors define frictions as incomplete linkages in the industry value chain that keep some parties from meeting and transacting, and show that firms with a competitive advantage prefer industries with lower levels of frictions than their disadvantaged rivals.
Abstract: We use a formal value-based model to study how frictions in the product market affect value creation and value capture. We define frictions as incomplete linkages in the industry value chain that keep some parties from meeting and transacting. Frictions, which arise from search and switching costs, vary across markets and over time as, for example, products commoditize and competition becomes more global. Importantly, frictions moderate the intensity of industry rivalry, as well as the efficiency of the market. We find that firms with a competitive advantage prefer industries with lower levels of frictions than their disadvantaged rivals. We show that the impact of rivalry on industry attractiveness cannot be analyzed independently of other competitive forces such as barriers to entry and buyer bargaining power. We introduce resource development in our model to study the emergence and sustainability of competitive advantage. Firm heterogeneity emerges naturally in our model. We show that the extent of firm heterogeneity falls with the level of frictions, but sustainability increases. Overall, we show that introducing frictions makes value-based models of strategy even more effective at integrating analyses at the industry, firm and resource levels.
98 citations
••
01 Nov 2015TL;DR: The approche cognitive de la strategie, en rapide developpement aujourd'hui mais encore relativement peu connue en France, decrivent ici les auteurs as discussed by the authors.
Abstract: Un nouveau courant de recherche, en matiere de strategie d’entreprise, s’appuie sur l’hypothese suivante : l’une des clefs du processus strategique, peut-etre la seule, reside dans la pensee des dirigeants, dans ses contenus et dans ses mecanismes. C’est cette approche cognitive de la strategie, en rapide developpement aujourd’hui mais encore relativement peu connue en France, que decrivent ici les auteurs. Ils en presentent les differents aspects et ses apports, mais aussi ses limites et ses risques avant de s’interroger sur ses perspectives aussi bien theoriques que pratiques.
98 citations
•
TL;DR: In this article, the authors show that media attacks on the focal firm and its peers both increase the likelihood of divestment for the focal firms, followed by attacks on peers in the same industry subcategory, and by attacks in different subcategories.
Abstract: In stigmatized industries characterized by social contestation, hostile audiences, and distancing between industry insiders and outsiders, firms facing media attacks follow different strategies from firms in uncontested industries. Because firms avoid publicizing their tainted-sector membership, when threatened, they can respond by divesting assets from that industry. Our analyses of the arms industry demonstrate that media attacks on the focal firm and its peers both increase the likelihood of divestment for the focal firm. Specifically, attacks on the focal firm are the most consequential, followed by attacks on peers in the same industry subcategory, and by attacks on peers in different subcategories. These findings shed new light on divestment as a response to media attacks in stigmatized industries and lead us to rethink impression management theory.
98 citations
••
TL;DR: In this paper, the authors analyze the dynamics of employees' performance evaluation systems, particularly those involving accounting performance measures, and propose to consider these systems as one of the major trials in the business world, that is, social arrangements organizing the testing of people and resulting in ordering them.
97 citations
Authors
Showing all 605 results
Name | H-index | Papers | Citations |
---|---|---|---|
Sandor Czellar | 133 | 1263 | 91049 |
Jean-Yves Reginster | 110 | 1195 | 58146 |
Pierre Hansen | 78 | 575 | 32505 |
Gilles Laurent | 77 | 264 | 27052 |
Olivier Bruyère | 72 | 579 | 24788 |
David Dubois | 50 | 169 | 12396 |
Rodolphe Durand | 49 | 173 | 10075 |
Itzhak Gilboa | 49 | 259 | 13352 |
Yves Dallery | 47 | 170 | 6373 |
Duc Khuong Nguyen | 47 | 235 | 8639 |
Eric Jondeau | 45 | 155 | 7088 |
Jean-Noël Kapferer | 45 | 151 | 12264 |
David Thesmar | 41 | 161 | 7242 |
Bruno Biais | 41 | 144 | 8936 |
Barbara B. Stern | 40 | 89 | 6001 |