Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
A new hybrid model of corporate governance seems to be emerging as a mixture of the shareholder and the stakeholder models. Its two main characteristics consist in an increased control of corporate executives by strong minority... more
A new hybrid model of corporate governance seems to be emerging as a mixture of the shareholder and the stakeholder models. Its two main characteristics consist in an increased control of corporate executives by strong minority shareholders: this strengthened financial control is balanced by the rise of the social and environmental responsibilities of firms. This paper elaborates on this hypothesis and reviews the forces at work in this emerging process.
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Cet article s'intéresse à la mise en place de l'approche dite du "Balanced Scorecards" dans des unités opérationnelles plutôt qu'au niveau d'une direction générale. Il s'appuie sur une étude de cas. On... more
Cet article s'intéresse à la mise en place de l'approche dite du "Balanced Scorecards" dans des unités opérationnelles plutôt qu'au niveau d'une direction générale. Il s'appuie sur une étude de cas. On propose de traiter les questions relatives à la coordination, à la fixation des objectifs et au contrôle en s'appuyant sur une méthodologie originale pour construire le modèle d'interaction entre les différentes entités de l'organisation. Cette méthodologie fait une part importante à l'apprentissage organisationnel permettant ainsi une compréhension mutuelle des degrés de liberté individuels et une meilleure observation réciproque. Cette approche "horizontale" est mieux adaptée à ce type de contexte que l'approche "verticale" plus traditionnelle du BCS.
Research Interests:
International audienc
Research Interests:
Research Interests:
Research Interests: Computer Science, Economics, Game Theory, Organizational Learning, Decomposition, and 11 moreManagement Science, Decision And Game Theory, Common Knowledge, Decision Theory, Decision support system, Planning, Philosophy and Religious Studies, Decision Problem, Economic Modeling, Economic Model, and Psychology and Cognitive Sciences
Research Interests:
Research Interests:
This paper discusses the best reply to be played after a mistake is committed in a zero sum extensive game. First it is shown that the minimax strategies do not, in general, provide specific answers. Two possible criteria are proposed to... more
This paper discusses the best reply to be played after a mistake is committed in a zero sum extensive game. First it is shown that the minimax strategies do not, in general, provide specific answers. Two possible criteria are proposed to narrow the set of optimal strategies. Then, a surprising feature of the selected optimal strategy may be observed: it may set the stage in advance so that, if the mistake is committed, the penalty will be maximal. This is called: the “trap phenomenon”.
Research Interests:
Milton Friedman a publie en 1970 dans les colonnes du NewYorkTimes Magazine un article reste celebre et intitule « The social responsibility of business is to increase its profits ». En contradiction avec cette prise de position,... more
Milton Friedman a publie en 1970 dans les colonnes du NewYorkTimes Magazine un article reste celebre et intitule « The social responsibility of business is to increase its profits ». En contradiction avec cette prise de position, l'hebdomadaire pourtant tres conservateur The Economist notait dans son special report du 19 janvier 2008 que la question n'etait plus de savoir si les entreprises devaient s'engager dans la responsabilite sociale et environnementale, mais comment elles devaient le faire.
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Countries which currently are, or are in the process of, implementing a national or regional cap and trade CO2 scheme are following alternatives routes in a number of ways: coverage, cap/target, allocation of allowances, measures to... more
Countries which currently are, or are in the process of, implementing a national or regional cap and trade CO2 scheme are following alternatives routes in a number of ways: coverage, cap/target, allocation of allowances, measures to manage price volatility, offsets, measures to address competitiveness and leakage. This last issue more specifically concerns "sensitive sectors", i.e. internationally traded carbon intensive sectors (aluminium, cement, steel, refined petroleum...). Three main approaches have been proposed: output based allocation (Aus- tralia, California, New Zealand), capacity based allocation (EU) and auctioning with border adjustment. This paper investigates what the best policy should be in this setting. The analysis suggests that, if a border adjustment is not available, a combination of output and capacity based allocation is socially optimal. Demand uncertainty and international competition play a key role in the analysis since the interaction between t...
Research Interests:
This paper reviews recent practices in French and US firms, concerning the implementation and use of various value creation metrics (e.g. TSR, EVA) in compensation policy, at different levels of the organization. Practices in France and... more
This paper reviews recent practices in French and US firms, concerning the implementation and use of various value creation metrics (e.g. TSR, EVA) in compensation policy, at different levels of the organization. Practices in France and the US are compared, illustrating the relative novelty of such approaches in French firms.
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Two main approaches have been implemented in regional CO2 markets to address competitiveness and carbon leakage: output based allocation (Australia, California, New Zealand) and capacity based allocation (EU). This paper characterizes the... more
Two main approaches have been implemented in regional CO2 markets to address competitiveness and carbon leakage: output based allocation (Australia, California, New Zealand) and capacity based allocation (EU). This paper characterizes the best policy, given that auctioning with border adjustment is excluded. A simple model is used in which the regional demand is subject to business cycles, and the import pressure depends on the demand level and capacity constraints. A combination of output and capacity based allocation is proved to be the optimal second best policy. The EU scheme for 2013-2020 is discussed, using cement as a case study.
Research Interests:
ABSTRACT This paper reviews recent practices in French and American firms regarding how various value creation metrics (TSR, EVA...) are actually implemented and used in compensation policy at the different level of the organization.... more
ABSTRACT This paper reviews recent practices in French and American firms regarding how various value creation metrics (TSR, EVA...) are actually implemented and used in compensation policy at the different level of the organization. Practices in France and the US are constrasted illustrating the relative novelty of such approaches in French firms.
Research Interests:
Research Interests:
Research Interests:
ABSTRACT This paper explores the idea that a properly designed sectoral approach could be the answer to two sets of constraints that hinder international agreements on climate change, namely a genuine concern from developing countries for... more
ABSTRACT This paper explores the idea that a properly designed sectoral approach could be the answer to two sets of constraints that hinder international agreements on climate change, namely a genuine concern from developing countries for economic growth and competitiveness issues from industrialized countries. Our sectoral approach builds on three premises: (i) cap-and-trade systems are established in industrialized countries and intensity targets in developing countries, (ii) sectors subject to international trade abide by the rules of the countries in which they trade and (iii) a fraction of the revenues from permits in industrialized countries go towards carbon mitigation in developing countries. We design an economic model that features interactions in three carbon-intensive sectors (two of which are internationally traded) and two countries (an industrialized country and a developing country). Two scenarios are constructed: an Enhanced Sectoral Approach, which refers to our proposal, and a Global Cap, which implements a uniform CO2 price. We compare the two scenarios in terms of total welfare and equity. It is shown that, for a minor global welfare loss, the Enhanced Sectoral Approach ranks high in terms of equity for emerging countries. This approach also eliminates competitiveness and leakage issues.