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International audience; This paper develops the bases for a decisional organization theory. Important approaches, like sociological systems theory, partial and meta-organization, or organizationality, share the assumption that decisions are a central component of organizations. However, organization studies still fail to account fully for the role of decisions in the emergence and continuation of organization. Yet, while pre-modern societies could rely on institutionalized orders in the form of traditions and authorities, the contemporary world rests on a myriad of decisions to cope with societal complexities. We develop an integrated, decisional organization theory (decisional OT) in which we articulate several concepts of organization theory, thus presenting organization as both a system of decisions and a decided social order. Looking further at organization as continua, we distinguish between ‘entitative organizationality’, i.e., degrees of organizationality at the entity level, and ‘structural organizationality’, i.e., a combination of organizational elements. This approach constitutes an important development for OT because it helps us to analyze the complex layering and intertwining of social orders inside, outside, among, and as organization(s), and identifying future research on the nesting of organization and the maintenance of organizational boundaries.; Neste texto são desenvolvidas as bases para uma Teoria Decisória nas Organizações (TDO). Abordagens importantes, como a teoria dos sistemas sociológicos, a da organização parcial e meta-organizacional, ou a organizacionalidade, compartilham a suposição de que as decisões são um componente central das organizações. Entretanto, os estudos de organização ainda falham em explicar plenamente o papel das decisões no surgimento e na continuação da organização. No entanto, enquanto as sociedades pré-modernas poderiam contar com ordens institucionalizadas na forma de tradições e autoridades, o mundo contemporâneo repousa sobre uma miríade de decisões para lidar com as complexidades sociais. Assim, desenvolvemos, de forma integrada, uma Teoria Decisória nas Organizações (TDO) na qual articulamos vários conceitos da teoria da organização, apresentando a organização tanto como um sistema de decisões quanto como uma ordem social decidida. Assumindo, adiante, a organização como um continua, distinguimos entre ‘organizacionalidade entitativa’, ou seja, os graus de organizacionalidade no nível da entidade, e ‘organizacionalidade estrutural’, ou seja, uma combinação de elementos organizacionais. Esta abordagem constitui um desenvolvimento importante para a Teoria Organizacional (TO) porque nos ajuda a analisar a complexa estratificação e o entrelaçamento das ordens sociais dentro, fora, entre e como organização(ões), e a identificar pesquisas futuras sobre o ‘aninhamento’ da organização e a manutenção dos limites organizacionais

International audience

International audience

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International audience; Recent empirical research in accounting and finance shows that the magnitudeof stock prices influences analysts’ price forecasts (Roger, Roger et Schatt [2018]).In this paper, we report the results of a novel experiment where some subjects areasked to forecast future prices in a continuous double auction market. In this expe-riment, two successive markets take place: one where the fundamental value is asmall price and one where the fundamental value is a large price. Although marketprices are higher (compared to fundamental value) in small price markets than inlarge price markets, our results indicate that analyst subjects’ forecasts are moreoptimistic in small price markets compared to large price markets. Analyst subjectsstrongly anchor on past price trends when building their price forecasts and donot mitigate subject traders’ bias. Overall, our experimental findings support theexistence of a small price bias deeply rooted in the human brain.; La littérature récente en comptabilité et en finance montre que le niveau des cours des actions influence les prévisions de prix des analystes (Roger, Roger et Schatt [2018]). Dans le présent article, nous montrons que ce résultat reste valide dans le cadre contrôlé du laboratoire quand des sujets doivent prévoir les prix futurs sur un marché expérimental auquel ils ne participent pas. Chaque sujet fait des prévisions lors de deux marchés successifs : l’un pour lequel la valeur fondamentale est faible et l’autre pour lequel la valeur fondamentale est élevée. Bien que les prix de marché soient plus élevés (par rapport à la valeur fondamentale) sur les marchés à petits prix du fait du biais de « petit prix » des sujets traders, nos résultats indiquent que les prévisions des analystes sont plus optimistes sur les marchés à petits prix que sur les marchés à prix élevés. Les sujets analystes ancrent leurs prévisions sur les prix de marché passés et n’atténuent pas le biais des sujets traders. Nos résultats montrent ainsi que l’existence de ce biais de « petit prix » reflète l’utilisation par les sujets de deux échelles mentales différentes pour traiter petits et grands nombres.

International audience; This article investigates the consumer–voice assistant (VA) interaction in the context of food and beverage purchase choices and the role that psychological power plays in the consumer decision‐making process. A series of experimental studies demonstrate that both involvement and the psychological condition of power meditate consumers' willingness to purchase. As a result, we find that consumers are more likely to purchase low involvement than high‐involvement products through VA technology, particularly when experiencing high‐power states. This study broadens our understanding of the role of VAs and their ability to shape the consumer decision‐making process. With an explicit focus on power, this studyillustrates how the success of voice commerce may largely rest on the promotion of low‐involvement products that enable high‐power psychological conditions which drive willingness to purchase.

International audience; The digital revolution has transformed the communication landscape into a hybrid online-offline environment. Although increasing complexity does pose new challenges for practitioners and scholars, the literature also lacks theoretical and empirical analyses of managerial and organizational issues regarding online and offline integration within integrated marketing communication (IMC). This study aims to provide an initial contribution to this field from a business perspective. First, we provide a definition and empirical analysis of the key managerial and organizational issues and approaches adopted by senior managers to tackle the challenge of online and offline integration. Second, we propose a conceptual framework that offers a holistic view of implementation modalities of offline and online integration, as well as the achievable outcomes and barriers to such implementation.

This study investigates whether green supply chain management (GSCM) practices help companies to be resilient against the buffer effect in the context of COVID-19. Building on the instrumental version of stakeholder theory, companies implementing GSCM practices should build environmental skills and competitive advantage to cope with a crisis caused by supply chain disruptions. Our survival analysis, conducted on 5,696 firms headquartered in 35 countries, shows clear evidence that GSCM companies' market prices recover quickly from the shock. Considering mounting pressure on environmental issues, this study documents the new benefits of GSCM for companies confronted with a global financial shock. By applying a large sample, the study has originality and implications for stakeholders, including investors, governments, and policymakers, to push firms to become more eco-friendly and resilient.

International audience; This study tests how transformational leadership fosters team performance through team cohesion and how that relationship is moderated by previous team performance and leadership consensus. We computed a moderated-mediation model based on a sample of 690 professional players in 59 top professional teams in interactive team sports leagues (basketball, handball, roller hockey, and indoor football/soccer) in Spain. Our findings suggest that transformational leadership indirectly influences objective team performance through the mediation role of team cohesion and that this indirect effect is more prominent when the level of previous performance is higher. We also found that the indirect effect of transformational leadership on team performance via cohesion is stronger in teams with higher consensus regarding their coaches' leadership. Overall, our results demonstrate the importance of integrating dispersion and contextual variables into research models, in particular, previous performance and leadership consensus.

PurposeSustainable purchasing and supply management (SPSM) is a lever of sustainable development for companies and remains an interesting research issue that can be analysed from various perspectives. By considering the polymorphic concept of proximity as a theoretical support, this research studies the buyer–supplier dyad and aims to answer the following question. How does the diversity of buyer–supplier dyad relationships influence the SPSM of direct and indirect purchases within a manufacturing company?Design/methodology/approachThe authors used a qualitative approach founded on a matrix analysis to describe buyer–supplier relationships through the prism of the proximity concept. The field of study consists in a single case with embedded units including a manufacturing company and a sample of 13 suppliers of direct and indirect purchases.FindingsThe research reveals diverse combinations of proximities that characterise relationships between a buyer and suppliers of several purchasing categories. This diversity of relational contexts influences SPSM in different ways. The authors highlight three SPSM approaches labelled contractual, relational and embedded and describe practices carried out with suppliers as part of the different relational profiles.Research limitations/implicationsThe research is developed in a single perspective. To ensure that it can be generalised, it should be applied in other contexts supported by new case studies.Practical implicationsThe research provides practitioners with guidelines on building successful buyer–supplier partnerships in a sustainable view. The authors’ findings aid managerial decision-making by validating the necessity of adapting SPSM depending on buyer–supplier relational situations.Originality/valueThis paper offers an original study angle on buyer–supplier relationships based on a proximity analysis. The authors’ research confirms the variety of sustainable purchasing relationships underlined by the literature and can advance the portfolio approach to sustainable purchasing.

PurposeFinancing investments in a knowledge-intensive sector may be more difficult as there is a greater degree of uncertainty and asymmetries of information. This paper aims to examine whether a company’s intellectual capital (human capital, relational capital and structural capital) can serve as a quality signal in the financing of health care startups with new business models.Design/methodology/approachThe study constructed a manual database using several paid and unpaid databases. This paper collected random data from 204 startups that obtained funding during the 2014–2017 period and used signaling theory to examine the factors that impact access to external financing for Indian health care technology startups.FindingsThis paper found that venture capitalists partly base their financing decisions on the relational capital of the startup represented by startups’ age and the average number of website visits, the presence of a syndicate of investors. Human capital variables and structural variables do not show much significant impact. This paper also find some business models show a negative impact on financing implying that investors are reluctant to invest in new technologies that carry more uncertainty and take a longer time to become profitable.Research limitations/implicationsBefore concluding this paper, it is important to acknowledge the limitations of the study and some implications for future research purposes. First, the study is conducted on only 204 startups from India, and as such, it suffers from a small sample size, like many other comparable survey-based studies in entrepreneurship. Second, the results are obtained with respect to data collected from Indian startups and represent the Indian context which limits the generalization on a global level.Practical implicationsThe results suggest that years of experience and prior relevant experience, do not actually impact the financing of a new venture. These results are crucial as India has a unique demographic advantage over other countries in relation to age. If young minds are adequately nurtured, this can result in innovation, entrepreneurship and job creation (which still remains as a foremost challenge for India).Social implicationsFrom a policy perspective, a number of implications emerge from the current study. There is a need for ameliorating the capacity of the education system in providing top-quality support including a greater focus on entrepreneurship courses and to replicate the education delivery model from top foreign institutes. The government should take this opportunity to revive the system of education and follow the methodology of elite institutes and to develop entrepreneurship spirit in other colleges and schools.Originality/valueFinancing the investments of young startups with new business models in knowledge-based sectors may be more difficult. In this paper, this paper demonstrates that startups have to effectively use and manage their intellectual assets to achieve sustainable competitive advantage. The findings of the paper emphasize the role of intellectual capital in securing financing through venture capital.

It is a widely known theoretical derivation, that the firm’s leverage is negatively related to volatility of stock returns, although the empirical evidence is still outstanding. To empirically evaluate the leverage we first complement previous simulation studies by deriving theoretical predictions of leverage changes on the volatility smile. Even more important, we empirically test these predictions with an event study using intra-day Eurex option data and a unique data set of 138 ad-hoc news. For our theoretically derived predictions we observe that changes in leverage of DAX companies from 1999 to 2014 cause significant changes to the implied volatility smile.

PurposeThe ability to work anytime from anywhere is attractive to job seekers, who respond by developing needs regarding flexible working. Flexibility needs are compared to the flexibility perceived in job advertisements to form an overall perception of flexibility fit. The purpose of this paper is to examine both the impact of flexibility fit (on applicant attraction) and its antecedents.Design/methodology/approachThe impact of flexibility fit on applicant attraction and its antecedents are examined using person–job (PJ) fit theory. 92 job seekers analyzed a total of 391 job advertisements. The hypotheses are tested using multilevel structural equation modeling.FindingsThe results show that perceived flexibility fit is positively related to job pursuit and job acceptance intentions. They further show that perceived flexibility fit is driven by perceived job advertisements' flexibility exceeding applicants' needed flexibility, which in turn is driven by the flexibility actually present in job advertisements exceeding applicants' flexibility needs.Originality/valueThis study contributes to literature on new ways of working by highlighting the desirable nature of flexibility and its impact on fit perceptions. It further contributes to literature on job search and PJ fit by investigating a full model of fit, examining both outcomes and antecedents of perceived fit. For practitioners, this study highlights the importance of advertising flexibility to attract applicants.

International audience; By drawing on social identity and stakeholders’ theories, this paper seeks to examine how universities co-create and manage their brand image and brand reputation through tapping into internal-stakeholders’ social network. This research utilises explanatory research design at the preliminary stage, and the subsequent model is examined via a positivist survey carried out among higher education internal stakeholders in the UK. The results show that the relationship between navigation design of the website, usability of the website and customization of the website are not significant from students’ perspective, whereas all those are significant from employees’ perspective. Furthermore, the relationship between logo and co-creation behaviour is not significant from employees’ perspective while it is significant from students’ perspective. University website is the most important marketing tool to attract students and other stakeholders. Therefore, these findings have significant implications for higher education branding and marketing managers aiming to design appropriate communication tools with a view to actively engage students and employees in a co-creation process to improve their products, services and brand image.

This paper investigates the role of the regional context with regard to the influence of human capital and knowledge spillovers on SMEs' financial soundness. Our empirical setting is based on a multilevel analysis of panel data, which allows superior treatment of hierarchical data. The analysis is applied to SMEs belonging to the manufacturing sector and operating in four European countries over the period 2010–2015. We find that a combination of individual and regional‐level characteristics explains firm soundness better than individual features alone. Furthermore, we find that a high local educational level and knowledge spillovers improve firm soundness and that their effects vary according to the regional level of knowledge. These results are confirmed by several robustness tests. Este articulo investiga el papel del contexto regional en relacion a la influencia de los spillovers de conocimiento y de capital humano sobre la solidez financiera de las PYMES. La configuracion empirica se basa en un analisis multinivel de datos de panel, ya que permite un mejor tratamiento de datos jerarquicos. El analisis se aplico a PYMES del sector manufacturero y que operaban en cuatro paises europeos en el periodo 2010‐2015. Se encontro que una combinacion de caracteristicas a nivel individual y regional explica mejor la solidez de las empresas que las caracteristicas individuales por si solas. Ademas, se observa que un alto nivel educativo local y los spillovers de conocimiento mejoran la solidez de las empresas y que sus efectos varian segun el nivel regional de conocimientos. Estos resultados se pudieron confirmar mediante varias pruebas de robustez. 本稿では、中小企業の財務健全性に対する人材と知識のスピルオーバーの影響に関する地域コンテキストの役割を検討する。本研究の実証セッティングはパネルデータのマルチレベル分析に基づくものであり、これによって階層データの優良な処理が可能になる。2010~2015年の期間で、欧州の4つの国で稼働している製造業の中小企業を対象に分析を行う。企業個別の特性だけでなく、それと地域レベルの特性を組み合わせた方が、企業の健全性がよく説明されることがわかる。さらに、地域の教育レベルの高さと知識スピルオーバーが企業の健全性を高めること、また知識スピルオーバーの影響は地域の知識レベルによって異なることが考えられる。この結果は、複数の検定により頑健性が確認された。

Purpose This paper aims to examine how customers encounter consumption-based evolution between mobile and offline platforms together with temporal and crossover effects. Counter to research on customer satisfaction theory, which shows that satisfaction directly affects loyalty, the authors show that when shopping between mobile and offline platforms, customers differently evaluate loyalty compared to the traditional satisfaction and loyalty approach. Also, customers differently evaluate three types of service quality from online to offline (O2O) platforms and response dynamically to firm satisfaction and loyalty. Design/methodology/approach This study tests temporal, carryover and crossover effects using longitudinal data sets. Findings From crossover loyalty shifts, the findings show that the relationship between offline provider satisfaction (OS) and mobile provider loyalty (ML) during consumption periods is consistently significant with similar impact. However, mobile provider satisfaction (MS) during the same periods does not impact offline provider loyalty (OL) in the same manner, but differs considerably in terms of pattern of influence. Specifically, the findings show that this crossover effect increases over time even though statistical impact is insignificant. Thus, the carryover loyalty shift has a positive impact when it originally occurs in the offline platform but differs significantly when it originates via the mobile platform. Practical implications – this study offers valuable guidance to managers on how O2O platform-centric firms try to enhance satisfaction with consumption system that links to three types of service quality and loyalty. Research limitations/implications This study offers valuable insights into offline and ML. This is seen, however, as an experimental study and further research using the same method would enable cross-cultural comparators. Practical implications Insights can be drawn from the findings, enabling comparisons relative to service quality-satisfaction-loyalty linkage across dual platforms. The idea of evolution and progression over time is particular pertinent to business practice assuming data sets are gathered, maintained and analyzed. Originality/value Insights can be used from the research findings, including but not limited to comparing the service quality-satisfaction-loyalty linkage across dual platforms and providing firms with an explanation of temporal evolution.

International audience; Virtual offices give employees the ability to work anytime, anywhere, using information and communication technologies, thereby blurring the temporal and geographical boundaries of work. Workplace stress is thus allowed to spill over from traditional offices to virtual offices, and vice versa. This review article presents key research from work psychology and information systems on workplace stress experienced in virtual offices (interruptions, workload and the work-home interface). It further discusses the main threats faced by organizations and office managers: reduced social interactions, poor communication, and deviant behaviors. Suggestions are also offered to practitioners seeking to design virtual offices in which employees can feel and work well, and to academics seeking to research this phenomenon in a transdisciplinary way.

International audience

This study extends the conceptualization of corporate identity (CI), and develops a valid and reliable scale for the concept via multistage research design. After detailed literature review, key elements of CI in practice are clarified using 20 semi-structured interviews with senior managers in leading UK companies, followed by an online survey among senior managers in the UK food and beverage sector. Five dimensions of CI are identified following two-step structural equation modelling: consistent image, top management behavioral leadership, employee identification, mission and values dissemination, and founder transformational leadership. The scale is examined for nomological validity with an outcome variable, namely corporate social responsibility. The contribution is novel, as for the first time CI is empirically validated as a second-order hierarchical construct. The resultant scale guides practitioners to specify priorities when developing CI, acts as a tool to assess the effectiveness of activities over time, and enables corrective action where needed.\ud \ud Keywords: Corporate identityCommunicationVisual identityEmployee identificationLeadership

International audience; The research focuses on the setting-up of a free zone strengthening the economic diversification of the Grand Duchy of Luxembourg. Dedicated to storage, handling and trading of high value items and in particular artworks and jewellery. The Luxembourg Freeport was inaugurated in September 2014. Using the Resource-Based View as theoretical framework, the paper aims to show what combinations of resources can have a positive impact on economic activities in connection with the Freeport. The research confirms that these activities go beyond pure logistical and operational sights. The findings highlight a triptych of resources justifying this location in an environment where art, finance and logistics seem to create a virtuous circle benefiting economic development of the country and promoting the rise of clustering effects.

International audience

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International audience

International audience; Digital data objects on viruses have played apivotal role in the fight against COVID-19, leadingto healthcare innovation such as new diagnostics,vaccines, and societal intervention strategies. Toeffectively achieve this, scientists access viral data fromonline communities (OCs). The social-interactionistview on generativity, however, has put little emphasison data. We argue that generativity on data dependson the number of data instances, data timeliness,and completeness of data classes. We integratedand analyzed eight OCs containing SARS-CoV-2nucleotide sequences to explore how communitystructures influence generativity, revealing considerabledifferences between OCs. By assessing provideddata classes from user perspectives, we found thatgenerativity was limited in two important ways: Whenrequired data classes were either insufficiently collectedor not made available by OC providers. Our findingshighlight that OC providers control generativity of dataobjects and provide guidance for scientists selectingOCs for their research.

International audience

International audience; We show that the acuity of the Approximate Number System (ANS), a cognitive system that allows humans and many animal species to evaluate quantities without using exact calculations, is a strong predictor of subjects’ earnings in experimental markets. We measure ANS acuity with a bounded number line estimation (NLE) task and find that subjects who perform better on the NLE task, obtain higher earnings in a continuous double auction experimental market. We underline two channels through which high ANS acu- ity subjects achieve better performance: they are rewarded for offering liquidity and are faster at exploiting trading opportunities. We also show that, in a given market, the distribution of NLE scores influences mispricing. Our results are unchanged when we control for differences in trading intensity, risk aversion, background education or demographic characteristics.

International audience; We revisit the theory of financial crises using a predator-prey metaphor, highlighting the relationship between greed, risk aversion and debt accumulation and aggregating concepts from economics, finance and psychology. We argue that regulations that are implemented inefficiently, with weak enforcement or at the wrong time can have deleterious effects on the market, worsening the ailment they initially intended to correct and leaving a spray of prey in their wake. To illustrate our hypothesis, we examine the role of regulations in the years leading up to and during the Global Financial Crisis (GFC) in the United States, when the Federal Reserve tried to restrain the over-heated housing market propelled by the predatory mortgage frenzy and the increased use of securitization in risk-hiding financial tools such as Collateralized Debt Obligations (CDOs). Our results indicate that deleterious government interventions may act as a chemotherapy of sorts, causing harm followed by a slow recovery. This understanding can help governments draft better regulations to lower market frictions and better protect investors.

International audience; When time is of the essence and teams face unexpected contextual changes, they must adapt quickly, sometimes even in real time, that is, they may have to improvise. This paper adopts an inductive approach to explore how teams decide to engage in improvised adaptation, and what happens during those processes for improvisation to be successful. The study analyzes improvisation from the perspective of paradox theory and identifies six paradoxical tensions driven by these contexts: deployment, development, temporal, procedural, structural, and behavioral tensions. We propose a dynamic equilibrium model of team improvised adaptation that leads to team plasticity. By properly managing the paradoxical tensions emerging from the convergence of design and execution, teams become more plastic and able to cope with sudden change. These findings contribute to adaptation and improvisation literatures by delving into the adaptation process under the temporal and material confluence of design and execution.

International audience; This paper analyses the development of pseudo micro-profit centres (MPCs) at Kitanihon, a Japanese manufacturer. MPCs aim to relate financial and operational concerns by sensitising operators to the financial consequences of their actions and by triggering financial improvements. MPCs, however, also create many small interdependent responsibility centres, which makes it difficult to delegate financial accountability. The paper studies the dynamic construction of relations between financial and operational concerns when structural interdependencies are important. It analyses such construction as a process of mediation. While extant studies focus on how accounting calculations, as mediating instruments, help linking dispersed people, aspirations and domains, the paper studies how accounting requires itself to be mediated to relate financial and operational concerns and to become powerful.It shows that people, spaces and instruments form a heterogeneous ‘web of mediators’ by which relations between accounting and operations are constructed. It shows how structural interdependencies take part in this mediation of relations. Finally, this study shows that mediation does not link, but transforms mediated entities including accounting, which forms, per-forms and trans-forms along the chain of mediation it helps constituting.

International audience; Digitalisation offers a wide array of opportunities, but also challenges, for universities and business schools alike, regarding the provision and delivery of their teaching and learning activities. The COVID-19 pandemic has highlighted some of these challenges, as it forced educational institutions to move their pedagogic activities online in line with new governmental regulations. In this article, we identify and discuss critically the following three interconnected challenges: (1) shifting from direct embodied co-presence to technologically mediated telepresence, (2) re-embodying teaching and learning activities and (3) rethinking the purpose and relevance of teachings in business schools. We explore these challenges through a phenomenological lens, informed by the Heideggerian concepts of enframing ( Gestell) and releasement ( Gelassenheit), with a focus on (re-)embodiment. Finally, we discuss the need, for teachers and learners, to be able to reflectively move between embodied and digital(ised) forms of learning and teaching and outline some implications and perspectives regarding the development of an integral pedagogy.

International audience; This study aims at determining the effect of perceived risk, privacy concerns, and smart speaker learning capabilities on the adoption of smart speakers for voice shopping. To this end, we used the theory of reasoned action (TRA) and the interpersonal theory of personality to propose a conceptual model that we tested using a mixed methods research design. Our results show that indeed, perceived risks, privacy concerns, and perceived learnability of smart speakers influence consumer intention to use smart speakers for voice shopping, which then influences actual use. Theoretically, this paper contributes to new theoretical perspectives regarding the learning capabilities of AI systems and their importance in AI adoption. Specifically, we use an insightful interpersonal theory and develop a scale that can be used to measure the learnability of AI systems as perceived by users. Practically, we show information systems (IS) and marketing managers key factors that need to be considered when providing voice shopping services through smart speakers.

CNRS 4, FNEGE 4, HCERES C; International audience; La Revue Internationale de Psychosociologie et de Gestion des Comportements Organisationnels (RIPCO) est une revue interdisciplinaire dont l’objectif est de publier des articles de recherche portant plus particulièrement sur le comportement organisationnel – quel que soit le type d’organisation étudiée, la méthodologie utilisée et les contextes au sein desquels les travaux de recherche sont effectués. Ces articles peuvent être de nature théorique ou empirique. [...]

International audience; Cet article examine les facteurs qui expliquent les représailles contre les lanceurs d’alerte. Les lanceurs d’alerte jouent un rôle important au sein de leur organisation, mais ils sont souvent confrontés à des représailles virulentes. Notre approche s’appuie sur la théorie des ressources sociales et, plus précisément, sur les ressources socio-émotionnelles qui sont échangées dans les organisations sur la durée. Nous proposons un modèle d’analyse fondé sur six propositions, basées sur la théorie des échanges socio-émotionnels. Nous montrons que la force du sentiment négatif contre les lanceurs d’alerte vient de l’idée qu’en s’exprimant, le lanceur d’alerte a manqué à un devoir de loyauté. Mais à qui cette loyauté est-elle due ?

International audience; This study sheds light on the perception of corporate environmental management (CEM) in the lending business from the lenders’ perspective. The importance of the implementation of the CEM practices of borrowing companies indicated by bank managers is used to measure the bank managers’ perceptions of CEM in lending decisions. In addition, this paper examines the influence of institutional motivations – coercive, mimetic and normative – on the perception of CEM. A survey was conducted among 110 bank managers in France and Luxembourg in 2019. Through factor analysis and regression modeling, we found that banks’ CEM requirements for borrowing firms are mainly determined by pressure-type motivations, such as coercive and mimetic, rather than benefit-type motivations, such as financial and reputational. Our results offer new insights into how bank managers perceive the importance of CEM in lending decision-making and explain the perceptions that have been less studied in the existing literature.

International audience

International audience; Lean management is a way for companies to improve their productivity and bring down their costs. Corporate Social Responsibility (CSR) aims to meet the expectations of stakeholders concerning a company’s impact on the environment and society. Despite their importance, and sometimes their coexistence, companies tend to tackle these two approaches separately. In this study, which employs a qualitative survey of seven companies, we attempt to understand the synergies and possible contradictions between Lean and CSR approaches. Firstly, it is clear that Lean, like CSR, concerns the economy, the environment, and stakeholder relations. Secondly, when combined, these two approaches compensate for their respective shortfalls: Lean management makes it possible to justify CSR on economic and financial levels, and provides CSR with a rigorous methodology in terms of operational management. CSR brings Lean management a way to consolidate its social and environmental benefits, and brings meaning that fosters employee engagement and extends the intervention scope of Lean to external stakeholders. This study also highlights a common key success factor, i.e., a corporate culture aimed at excellence. On this basis, the study recommends the combined implementation of both approaches in order to maximize their respective benefits. Seen from this perspective, CSR could be considered as continuous improvement of the company’s overall performance, the first step of which would be Lean.

National audience

International audience; This study investigates the role of eco-control systems in translating the proactive environmental strategies (PES) of third party logistics providers (TPLs) into economic and environmental performances using variance-based structural equation modelling, popularly known as PLS-SEM. Analysis of survey data from 232 French TPLs indicate that improved performance depends on the type of TPL organizational core that is mobilized by the PES. Indeed, while the PES of the operations function can improve both environmental and economic performances, the PES of the marketing function contributes only to improved economic performance. The results also reveal that eco-control systems play a prominent role in fostering TPL environmental performance while economic performance remains unchanged. In this regard, eco-control systems can help TPL managers deploy their strategic environmental intentions and achieve improved environmental performance by motivating and directing employees along environmental purposes, providing key information related to environmental activities, and prompting opportunity-seeking behaviors. Overall, the study answers recent calls for research on the green initiatives of TPLs and provides novel insights that can spur on further research.

International audience; We investigate whether number processing impacts the limit order aggressiveness of retail investors. When posting non-marketable orders, individual investors are less aggressive on small price stocks than on large price stocks. This difference is not explained by differences in liquidity and other usual drivers of order aggressiveness. No such difference exists for limit orders of high-frequency traders. The small price bias is detrimental to retail investors since it increases the costs borne when trading small price stocks.

International audience

International audience; In this challenging and innovative article, we propose a framework for the consumer behavior named “consumer financial spinning”. It occurs when borrowers-consumers of products with high financial stakes accumulate unsustainable debt and disconnect from their initial financial hierarchy of needs, wealth-related goals, and preferences over their household portfolio of assets. Three behaviors characterize daredevil consumers as they spin their wheel of misfortune, which together form a dark financial triangle: overconfidence, use of rationed rationality, and deceitfulness. We provokingly adapt some of the tenets of the Markowitz and Capital Asset Pricing models in the context of the predatory paradigm that consumer financial spinning entails and use modeling principles from the data percolation methodology. We partially test the proposed framework and show under what realistic conditions the relationship between expected returns and risk may depart from linearity. Our analysis and results appear timely and important because a better understanding of the psychological conditions that fuel intense speculation may restrain market frictions, which historically have kept reappearing and are likely to reoccur on a regular basis.

International audience

International audience

The French "PACTE" Law (May 22, 2019) contains several measures relating to the development of retirement savings. The primary goal of the bill is to standardize the existing retirement savings products, while financing the economy and offering savers a higher expected return in a competitive framework. The new law asks at least two questions. That of the effect of pension assets on economic growth, and the issue of modelling stock price dynamics. This paper focuses on assessing the risks associated with providing retirement benefits through a funded plan and analyzes the «well-being» that consumers can get from pension funds compared to PAYG schemes. The results provided by a model built to study the linked impacts of demography and the economy on the French pension system are unambiguous. The comparison of internal rates of return show that if stock prices follow a random walk, a risk averse investor will get more «utility» from PAYG scheme. On the other hand, if stock prices are mean-reverting a massive investment in risky assets would compete public pension plans.; La loi PACTE du 22 mai 2019 vise à orienter l’épargne vers des placements longs productifs en favorisant l’essor de l’épargne retraite. Elle aspire conjointement à modifier la ligne de partage entre répartition et capitalisation. Cette disposition pose deux questions. Celle de l’impact de la capitalisation sur la croissance et celle de la dynamique que l’on prête aux actifs risqués. Cet article est centré sur la mesure du risque associée à l’utilisation des revenus du capital pour financer les retraites et examine la question centrale de l’utilité que les agents peuvent retirer de leur abondement au fonds d’épargne. Les résultats des simulations réalisées dans le cadre démo-économique français montrent que si le prix des actifs risqués suit une marche aléatoire (EMH), les agents averses au risque ne pourront pas obtenir sur les marchés un ratio « rendement / risque » équivalent à celui procuré implicitement par l’édifice des régimes par répartition. En revanche si les chocs sur les marchés boursiers ont un caractère transitoire, alors le marché pourrait concurrencer les régimes par répartition au prix d’un investissement massif en actifs risqués en début et milieu de vie active.

National audience

We empirically examine the connectedness between the oil market and the major precious metals (gold, silver platinum, palladium) and the base metal copper over the available period covering December 06, 1988 to August 31, 2018, using the wavelet coherence and quantile cross-spectral analyses. The major findings can be summed up as follows. First, regarding the connectedness among the considered precious metal markets, there is no evidence of identifying the causal interplays. Second, gold and platinum are highly connected with oil and they influence oil prices, especially during global markets' turmoil. Third, the cross-quantile coherency analysis shows that gold and silver exhibit the highest quantile coherency. Fourth, the intensity of the nexus between gold and copper attains its nadir at the extreme upper and lower quantiles. Our empirical findings have relevant implications for investors. It is important for investors in commodity markets to make appropriate investment market decisions in extreme market circumstances. On the other hand, policymakers may benefit from our research, as they could generate suitable strategies.