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: 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.

Limit Order Book as a Market for Liquidity

Abstract: We develop a dynamic model of an order-driven market populated by discretionary liquidity traders. These traders must trade, yet can choose the type of order and are fully strategic in their decision. Traders differ by their impatience: less patient traders demand liquidity, more patient traders provide it. Three equilibrium patterns are obtained - the pattern is determined by three parameters: the degree of impatience of the patient traders, which we model as the cost of execution delay in providing liquidity; their proportion in the population, which determines the degree of competition among the liquidity providers; and the tick size, which is the cost of the minimal price improvement. Despite its simplicity, the model generates a rich set of empirical predictions on the relation between market parameters, time to execution, and spreads. We argue that the economic intuition of this model is so basic, its main results must be robust in much more general models.

Do make or buy decisions matter? The influence of organizational governance on technological performance

Abstract: This paper investigates how firms' decisions to outsource or internalize production affect their technological performance. While several popular arguments and some anecdotal evidence suggest a direct association between outsourcing and technological performance, the effects of firms' governance decisions are likely to be contingent upon several specific attributes underlying a given exchange. This paper first demonstrates how standard performance models can improperly suggest a positive relationship between firms' outsourcing decisions and their technological performance. Models that account for firm- and transaction-specific features are then presented, which indicate that neither outsourcing nor internalization per se result in superior performance; rather, a firm's technological performance is contingent upon the alignment between firms' governance decisions and the degree of contractual hazards. Copyright © 2002 John Wiley & Sons, Ltd.

Os sentidos do trabalho

Abstract: O trabalho representa um valor importante nas sociedades ocidentais contemporâneas, exercendo uma influencia consideravel sobre a motivacao dos trabalhadores, assim como sobre sua satisfacao e sua produtividade. Compreender os sentidos do trabalho hoje e um desafio importante para os administradores, tendo em vista as multiplas transformacoes que tem atingido as organizacoes e os "mundos do trabalho". O objetivo deste artigo e determinar, identificar e comentar as caracteristicas que o trabalho deveria apresentar a fim de ter um sentido para aqueles que o realizam. Acreditamos que os momentos de transformacao organizacional constituem, potencialmente, uma oportunidade para reorganizar o trabalho de tal forma que a qualidade de vida e a eficacia organizacional sejam melhoradas e que as caracteristicas que se atribuem a um trabalho que tem um sentido possam orientar as decisoes e as intervencoes dos responsaveis pelos processos de transformacao organizacional.

The elephant in the room of dynamic capabilities: bringing two diverging conversations together

Abstract: A critical issue has been absent from the conversation on dynamic capabilities: the two seminal papers represent not only different but contradictory understandings of the construct’s core elements. Here, we explore the reasons for this, using author cocitation analysis to inform our analysis. Our findings suggest that the field is being socially constructed on the basis of two separate domains of knowledge and that underlying structural impediments have impeded dialog across the domains. In light of this evidence, then, we take up the challenge to find a solution to this dilemma. By employing a contingency-based approach, we show that there are ways to unify the field that rely, paradoxically, on integrating the two contradictory views, while still preserving the assumptions that led to their differences. Copyright  2013 John Wiley & Sons, Ltd.