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 development of new products: The role of firm context and managerial cognition

Abstract: We explore the effect of organizational factors and managerial cognition on firms'' entrepreneurial actions and investigate the relationship between these antecedents by drawing from prior work on corporate entrepreneurship, managerial cognition, and the attention-based view of the firm. The analysis of data from 84 firms shows that firm strategy and resources influence the degree of negativity with which managers interpret events that lead to the development of new products. Our results also suggest that more negative evaluations of the triggering event lead to less innovative new products. While the strategy and the resources of a firm also have an effect on a new product''s degree of innovativeness, at least part of this effect is mediated by executives'' evaluation of the triggering event. The theoretical elaboration and our results contribute to a better understanding of the drivers of corporate entrepreneurial activities and point to the importance of considering both managerial and organizational factors for advancing our knowledge on firms'' entrepreneurial actions.

Conducting and Evaluating Critical Interpretive Research: Examining Criteria as a Key Component in Building a Research Tradition

Abstract: The collection, analysis, and interpretation of empirical materials are always conducted within some broader understanding of what constitutes legitimate inquiry and valid knowledge In the Information Systems field, there are wellknown and widely accepted methodological principles consistent with the conventions of positivism However, the same is not yet true of interpretive research The emergence of interpretivism in IS research was advocated by Walsham (1995) and corroborated by a series of special issues in outstanding IS journals An example of the effort to advance the legitimacy of studies grounded in an interpretive position is the set of principles suggested by Klein and Myers (1999), which applies mostly to hermeneuticsHowever, because not all interpretive studies are built on a hermeneutical philosophical base, they recommended that other researchers, representing other forms of interpretivism, suggest additional principles This paper follows in this vein, advocating the timely emergence of a critical interpretive perspective in IS research and pressing the argument that an extended version of Golden-Biddle and Locke’s (1993) criteria is not only appropriate but comprehensive as initial guidelines for conducting and evaluating critical interpretive research Critical interpretive research, research criteria, intensive research, qualitative research

Value Destruction in the New Era of Chapter 11

Abstract: Over the past two decades, control over the US bankruptcy reorganization process has shifted from a debtor's pre-bankruptcy managers to holders of secured claims. The result has been increased adherence to absolute priority and a harder landing for the debtor's managers and shareholders. Because managers still make or can influence the decision whether or when to file a bankruptcy petition, we hypothesize that anticipation of bankruptcy under these new conditions will result in a delay in filing, increased leverage, increased secured debt, and a reduction of asset value for firms at the time they file. We present empirical evidence consistent with our hypotheses.

Debiasing Training Improves Decision Making in the Field.

Abstract: The primary objection to debiasing-training interventions is a lack of evidence that they improve decision making in field settings, where reminders of bias are absent. We gave graduate students in three professional programs (N = 290) a one-shot training intervention that reduces confirmation bias in laboratory experiments. Natural variance in the training schedule assigned participants to receive training before or after solving an unannounced business case modeled on the decision to launch the Space Shuttle Challenger. We used case solutions to surreptitiously measure participants' susceptibility to confirmation bias. Trained participants were 19% less likely to choose the inferior hypothesis-confirming solution than untrained participants. Analysis of case write-ups suggests that a reduction in confirmatory hypothesis testing accounts for their improved decision making in the case. The results provide promising evidence that debiasing-training effects transfer to field settings and can improve decision making in professional and private life.

Multiple solutions under quasi-exponential discounting

Abstract: Infinite horizon dynamic optimization problems with non-exponential time preferences may not only exhibit time inconsistency but may also have multiple solutions with distinct payoffs. We here show that such multiplicity is generic in the sense that it occurs in an open set of such decision problems, even with small state- and action-spaces. Non-exponential discounting allows for an “addictive” equilibrium alongside a “virtuous” equilibrium. We also provide a sufficient condition for uniqueness in infinitely repeated decision problems with general action spaces.