Search results for "G30"
showing 10 items of 41 documents
Efficiency of French privatizations: a dynamic vision
2004
The program of French privatizations is one of the principal worldwide programs as for the volume of the equity issues. A reading of the process of privatization through the corporate governance theory resulted in working out a model making it possible to take into account, on the one hand, the time dimension of the process of privatization, on the other hand, the contextual, organizational, governance and strategic variables which influence this process. After having replicated a certain number of traditional tests, we carried out a test of this model on a sample of 19 French privatized firms and on a seven years horizon, which made it possible to obtain the following conclusions. The favo…
La mujer en los consejos de administración: evidencia para el mercado bursátil español
2019
Antecedentes: durante decadas se ha luchado por la incorporacion de la mujer al mercado laboral, lo que promueve la igualdad de genero. Sin embargo, una mayor presencia de la mujer en el mercado laboral no indica una plena igualdad, pues es evidente la existencia del conocido techo de cristal y de una brecha salarial. El articulo proporciona evidencia de estas dos caracteristicas en los consejos de administracion de las empresas del mercado continuo espanol. Metodologia: se estima un modelo de regresion multiple con observaciones por consejero, empresa y ano, controlando efectos fijos temporales de la empresa y del sector. En el estudio consideramos especificamente la presencia de diversida…
Quels sont les effets de la pression exercée par les analystes financiers ? Le cas Carrefour
2010
International audience; L'étude du remplacement du dirigeant emblématique de l'entreprise Carrefour, au début de l'année 2005, permet d'illustrer le rôle disciplinaire joué par les analystes financiers, ainsi que les effets pervers résultant de la pression exercée par ces derniers sur la qualité des états financiers. En effet, il apparaît que l'ancien dirigeant a géré les résultats à la hausse au cours des deux années précédentes, pour éviter d'annoncer une « mauvaise surprise » (un bénéfice de l'exercice inférieur aux bénéfices prévus par les analystes), alors que le nouveau dirigeant a eu tendance à « nettoyer » les comptes dès sa prise de fonction.
On the Internationalization of Corporate Boards
2013
Despite the global reach of their commercial activities, many multinational firms have proved slow in internationalizing their boards of directors. Based on a panel study of the internationalization of the boards of 347 non-financial firms from the Nordic countries, we find a higher fraction of international board membership in firms with more foreign sales, in firms with more foreign ownership and in firms whose shares are traded on foreign (mostly European) stock exchanges. Moreover, we find international directors and national directors with international experience complementary. The first-mentioned group is found to serve a monitoring role, related to financial internationalization of …
À la recherche du lien perdu entre caractéristiques des dirigeants et performance de la firme : gouvernance et latitude managériale
2008
Upper Echelons Theory and financial governance theory both postulate that CEOs have a determining influence on the performance with, however, a very significant difference concerning the influence of managerial discretion. For the first one, managerial discretion has a potentially positive influence on performance by enabling the managers' cognitive capacities to affect it, for the second one, a negative influence, insofar as it can lead to decisions conflicting with shareholders' interests. The objective of this article is, on the one hand, to compare the contents and the role of the managerial discretion concept within these two theoretical frameworks, on the other hand, to propose, in th…
Conflict in Somalia: impact on child undernutrition
2017
Background: In Somalia, protracted conflict and persistent drought have caused population displacement and livelihood destruction. As a result, there is widespread child malnutrition. We aimed to determine the effects of conflict on wasting and stunting among children aged 6-59 months in Somalia 2007–2010.\ud \ud Methods: Data were from household nutritional surveys from 2007 to 2010, with 1,066 clusters covering 73,778 children, the Armed Conflict Location and Event Data (ACLED) project and remote sensing. We used Bayesian hierarchical spatial-temporal regression methods to examine the effects of conflict on wasting and stunting. A preliminary model included individual, household and envir…
Co-morbidity of malnutrition with falciparum malaria parasitaemia among children under the aged 6–59 months in Somalia: a geostatistical analysis
2018
Background Malnutrition and malaria are both significant causes of morbidity and mortality in African children. However, the extent of their spatial comorbidity remains unexplored and an understanding of their spatial correlation structure would inform improvement of integrated interventions. We aimed to determine the spatial correlation between both wasting and low mid upper arm circumference (MUAC) and falciparum malaria among Somalian children aged 6–59 months. Methods Data were from 49 227 children living in 888 villages between 2007 to 2010. We developed a Bayesian geostatistical shared component model in order to determine the common spatial distributions of wasting and falciparum mal…
The Institutional Determinants of Private Equity Involvement in Business Groups: The Case of Africa
2018
This study examines the governance attributes of post-IPO (initial public offering) retained ownership of private equity in business group constituent firms in contrast to their unaffiliated counterparts, in 202 newly listed firms in 22 emerging African economies. We adopt an actor centered institutional-theoretic perspective in rationalizing institutional voids and the advantages of maintained governance by both business angels (BA) and venture capital (VC) private equity. Our findings reveal private equity retain higher post-IPO ownership in business group constituents compared to unaffiliated firms and that this is inversely moderated in the context of improving institutional quality – w…
Semiclassical Gevrey operators and magnetic translations
2020
We study semiclassical Gevrey pseudodifferential operators acting on the Bargmann space of entire functions with quadratic exponential weights. Using some ideas of the time frequency analysis, we show that such operators are uniformly bounded on a natural scale of exponentially weighted spaces of holomorphic functions, provided that the Gevrey index is $\geq 2$.
Les déterminants de la qualité des conseils d'administration français
2005
International audience; Dans cet article, nous vérifions si la "qualité" des conseils d'administration dépend de la structure de propriété et de la politique financière des grandes sociétés cotées en bourse, caractérisées par une séparation de la décision (control) et du contrôle (ownership). En nous basant sur la théorie de l'agence, nous considérons que les conseils sont de meilleure qualité lorsqu'ils comprennent une fraction élevée d'administrateurs indépendants et/ou lorsque les fonctions de direction générale et de présidence du conseil sont dissociées. Pour les 85 sociétés cotées en bourse de notre échantillon, nous confirmons notamment que la qualité des conseils croît avec la fract…