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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 article, the authors explored conflicting implications of firm-specific human capital (FSHC) for firm performance and found that managers with superior FSHC are more productive in selling loans but also more likely to manipulate loan terms to increase incentive payouts.
Abstract: This paper explores conflicting implications of firm-specific human capital (FSHC) for firm performance. Existing theory predicts a productivity effect that can be enhanced with strong incentives. We propose an offsetting agency effect: FSHC may facilitate more-sophisticated �gaming� of incentives, to the detriment of firm performance. Using a unique dataset from a multiunit retail bank, we document both effects and estimate their net impact. Managers with superior FSHC are more productive in selling loans but are also more likely to manipulate loan terms to increase incentive payouts. We find that resulting profits are two percentage points lower for high-FSHC managers. Finally, profit losses increase more rapidly for high-FSHC managers, indicating adverse learning. Our results suggest that FSHC can create agency costs that outweigh its productive benefits.

71 citations

OtherDOI
TL;DR: In this paper, the authors analyze whether social welfare is maximized through private ownership of university research and the impact of the increased private protection of these rights on welfare, and discuss whether maximizing local entrepreneurship necessarily maximizes total welfare.
Abstract: This literature review spans several areas of research with a focus on the impact of universities on local entrepreneurship and economic development. This review will analyze whether social welfare is maximized through private ownership of university research and the impact of the increased private protection of these rights on welfare. We will discuss whether maximizing local entrepreneurship necessarily maximizes total welfare. Finally, we will ask whether much of past research and practice on commercializing research from universities may have missed the target. Our hypothesis is that the majority of local entrepreneurial economic development affected by universities is in the form of start-ups created by former students. If this hypothesis is confirmed then the recent transformation of university goals and practices toward increasing spin-off rates and new firm creation by university faculty and researchers may be called to question.

71 citations

Journal ArticleDOI
Ai-Ting Goh1, Jacques Olivier1
TL;DR: In this article, the authors address the issue of optimal patent protection in an economy with a downstream and an upstream sector, and they show that patent protection is necessarily higher in the upstream than in the downstream.
Abstract: This article addresses the issue of optimal patent protection in an economy with a downstream and an upstream sector. The key insight is that higher patent protection in the downstream sector raises the incentives of agents to do R&D in that sector but discourages innovation in the upstream sector because of a market size effect. Hence, higher patent protection in the upstream sector accelerates growth whereas higher patent protection in the downstream sector slows it down. If some innovation is socially desirable, optimal patent protection is necessarily higher in the upstream than in the downstream sector.

71 citations

Journal Article
Jean-Noël Kapferer1
TL;DR: Kapferer as mentioned in this paper examines the major issues and influences that are affecting the future of band management and shows us what is already at work in advanced companies worldwide, including mega-distribution power, new consumer power bolstered by the internet, new unconventional Internet competition, consumer fragmentation, media fragmentation, the revolution of the euro, the rise of local identities in reaction to globalization forces, and finally the trust fallout following the BSE crisis.
Abstract: Are the "classical" rules of brand management obsolete? These rules were created over 50 years ago in the United States under very different market conditions and realities. Since then,textbooks and thinking have maintained the same simplistic models of branding and are looking increasingly out of date. The realities governing global and national markets have changed, creating a fantastic challenge for top brands to embrace, these include: mega-distribution power, new consumer power bolstered by the internet, new unconventional Internet competition, consumer fragmentation, media fragmentation, the revolution of the euro, the rise of local identities in reaction to globalization forces, and finally the "trust fallout" following the BSE crisis. In this discussion, Jean-Noel Kapferer examines these major issues and influences that are affecting the future of band management and shows us what is already at work in advanced companies worldwide. This title comprises over 30 accessible essays, all addressing key issues to stimulate and challenge the reader. "Reinventing the Brand" questions the basics of current brand thinking and explores the possible future for brands and brand management. Topics covered include: Beyond brand positioning shouldn't we speak more of brand mission?; Isn't time to forget about product brands and build dynamic branding architectures?; It is time to admit that brand extension is a necessity?; Shouldn't we stop opposing the corporate and the brand?; Should we really stop thinking about local brands? Brand image does not lead enough to brand usage - shouldn't we redefine brand leadership itself? What are the winning brand portfolios of the future?

70 citations

Journal ArticleDOI
TL;DR: In this paper, the benefits of the "lifelong customer value" approach, beyond building the social prestige of their names, are examined for the benefit of the prestige of the brands.
Abstract: Luxury brands have so far been reluctant to adopt any of the classical tools of mass marketing. One of these is customer relationship management (CRM). Prestigious brands are, however, now starting to examine the benefits of the ‘lifelong customer value’ approach, beyond building the social prestige of their names. This paper develops ‘why’ luxury brands need to apply CRM systems and ‘what’ they could achieve by doing so, and addresses ‘how’ this could be applied with the necessary adaptations if these brands wish to keep their luxury status intact.

70 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