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The impact of the passion for teaching entrepreneurship: A conceptual model
No full textInternational audienceGrowing evidence suggests that the passion for teaching entrepreneurship substantially contributes to the effectiveness of education programmes. This paper conceptually explores the role of teachers in entrepreneurship education (EE), with a focus on student outcomes. Specifically, the paper focuses on the impact of harmonious and obsessive passions for teaching and entrepreneurship on student-level outcomes such as programme satisfaction, learning and venture creation. Our conceptual model contributes to the EE literature by revealing the underestimated role of passion for teaching entrepreneurship in EE
Mandatory IFRS Adoption and Design Innovation
No full textInternational audienceABSTRACT We use the mandatory adoption of International Financial Reporting Standards (IFRS) in 2005 as an exogenous change in reporting regulations, examining how it affects design innovation. We find that mandatory IFRS adoption is positively related to firms’ likelihood of winning the iF Product Design Award, which acknowledges excellent product/service designs. We also find that after IFRS adoption, firms attract more international institutional investors who can better monitor and advise on product designs. The impact of this IFRS mandate is more pronounced for firms with expanded international sales, which may benefit more from international markets. Overall, our results enhance our understanding of how mandatory IFRS adoption affects firms’ innovation activities
Research on systemic risk measurement based on temporal financial knowledge graph: Evidence from China
No full textInternational audienceThe inherent complexity and interconnectedness of systemic financial risks necessitate sophis ticated measurement frameworks, especially as new financial forms emerge and the economic environment becomes more complex. This paper aims to develop a novel composite systemic risk model using the financial knowledge graph for risk measurement. Notably, our research in corporates traditional financial institutions and FinTech entities, extending beyond conventional financial risk analytical boundaries. Empirical results show the model boosts risk measurement accuracy and is responsive to classic contingencies and inclusive finance policies. FinTech and securities sectors prove more susceptible to systemic risk than banking and insurance, with FinTech being easily influenced by high-tech enterprise support and FinTech-related regulatory policies, and securities by monetary policy. Moreover, institutions’ performance is consistent across risk event types, while top risk contributors are evenly distributed across diverse financial sectors and account for the lion’s share of the industry’s systemic risk and exhibit risk aggregation
Crowdfunding immobilier et gestion des risques : une approche juridique et managériale
No full textFNEGE 4International audienceCrowdfunding platforms for real estate are expanding. They allow individuals to pool their money with other investors to finance real estate projects. However, it is important to remember that this type of investment carries significant risks—both endogenous, linked to the developer’s financial capacity and the various aspects of the real estate project, and exogenous, stemming from external environmental factors. Therefore, it is crucial that all concerned stakeholders implement risk management mechanisms. The purpose of this article is to present these mechanisms and provide recommendations to mitigate risks. To this end, this study draws on both applicable regulations and the literature in law and management sciences. It is also based on interviews conducted with actors involved in real estate crowdfunding to analyze the risk mitigation mechanisms implemented by these platforms.Les plateformes d'immobilier participatif se développent. Elles permettent de financer des projets immobiliers grâce à l'argent des particuliers. Il ne faut toutefois pas oublier que c’est un investissement qui comporte des risques forts à la fois endogènes, liés aux capacités financières du promoteur ainsi qu’aux différentes composantes du projet immobilier, et exogènes provenant de l’environnement extérieur au projet. Il devient donc urgent pour tous les acteurs concernés de mettre en place des dispositifs de gestion des risques. L’objectif de cet article est de présenter ces dispositifs et d’apporter des préconisations afin d’en minimiser les risques. À cette fin, l’étude mobilisera à la fois la réglementation applicable, mais également la littérature en droit et en sciences de gestion et se fondera sur des entretiens conduits auprès d’acteurs du crowdfunding immobilier pour analyser les mécanismes mis en place par les plateformes pour limiter le risque
Conflicting consumer beliefs influencing eco-innovation adoption: Motives and barriers for accepting the laser marking of organic products
No full textInternational audienceIn response to regulatory requirements and consumer demand for sustainable products, producers of organic products are beginning to use laser marking to reduce packaging and thereby packaging waste. However, the consumer responses to this “high-tech” eco-innovation remain unexplored. Using a mixed-method approach, we collected qualitative and quantitative data on responses to the laser marking of organic products from 328 French participants. Guided by the theory of consumption values and innovation resistance theory, we conducted thematic analysis of answers to an open-ended question which probed consumers’ motives for and barriers to adopting laser marking. The most frequently stated motive was ecological benefits, and the most reported barriers were risks and tradition. Structural equation modeling revealed that attitudes toward laser-marked organic products are positively impacted by social, emotional, and functional values and are negatively impacted by barriers related to image and emotions. Consumers’ attitudes toward laser-marked organic products strongly affect their willingness to buy such products. To increase the acceptance of laser marking, managers and policymakers should mitigate false-negative consumer perceptions, including doubts about its eco-friendliness and safety, thereby facilitating greater acceptance of this eco-innovation
International evidence on industrial affordability of deep decarbonization
No full textInternational audienceIn connection to the public policy design for achieving net zero, we assess industrial affordability of deep decarbonization in the International Energy Agency (IEA) member countries. Our international assessment employs a newly developed formula to calculate an industry-specific index A ≡ incremental energy cost due to deep decarbonization ÷ value added. If A ≤ = user-defined fractional threshold, industrial affordability is said to exist. Using the carbon intensity data purchased from the IEA and effective carbon rates published by the Organization for Economic Cooperation and Development, we find industrial affordability declines with an industry’s carbon intensity, a country’s effective carbon rate, and a country’s deep decarbonization target. Further, mandating net zero sans mitigation is unaffordable at a relatively low like 0.1 for the carbon-intensive industries of chemical products, coke and petroleum products, and basic metals. Hence, our recommendation in pursuance of the United Nations’ call for net zero is a politically feasible deep decarbonization strategy with public support enabled by gradual implementation, exemptions, and subsidies
Comparing apples to oranges: Consumer ambivalence regarding an eco-innovation – laser marking of organic fruits
No full textInternational audienceLaser marking is an innovative and eco-friendly alternative to plastic sticker labeling of organic fruits, with no known negative side effects. Still, based on Ram and Sheth’s innovation resistance theory, we predict that this food eco-innovation applied to the produce may lead to ambivalent responses, with consumers valuing its eco-friendliness but fearing health risks. Drawing on Festinger’s cognitive dissonance theory, we predict that consumers actively attempt to resolve the ambivalence by adapting their beliefs about laser marking to situation-specific realities. Finally, based on Nemeroff and Rozin’s contagion theory, we predict that an important situation-specific reality for this eco-innovation is fruit peel edibility, which moderates the found relationships. These hypotheses are tested in three between-subjects experiments (Study 1 – 396 participants; Study 2 – 390 participants; Study 3 – 346 participants). Participants were exposed to scenarios presenting an organic fruit with a laser-marked or plastic sticker label, on an edible or non-edible peel. As predicted, we find that laser marking decreases perceived eco-friendliness, because of anticipation of food waste, and reduces perceived healthfulness, because of fear of contamination, both depending on whether the fruit’s peel is edible or not. Implications for managers include the need to educate consumers about the benefits and risks of this technology. For a start, laser marking should probably be limited to fruits with non-edible peels
L’expérimentation de politique publique en réponse aux problèmes pernicieux vue comme une « mise en dispositif »
No full textInternational audiencePublic policy experimentation in response to wicked problems as a process of “dispositive formation”. To address the “wicked problems” of public policy, experimentationis frequently used to understand and assess the value of organizational innovations. To better grasp the deployment of such experiments within a public governance context involving multiple stakeholders and diverse issues, this article draws on the Foucauldian framework of “dispositive” to study the implementation of the central measure of an experiment conducted in the field of elderly loss of autonomy: the Territorial Support Coordination (CTA in French) within the Paerpa experiment. Processes of “dispositive formation” are studied in two experimental territories. They highlight that the deployment of an experiment diverges from traditional project management, involving a continuous design process guided by the assemblage of heterogeneous elements. This process is distributed among various actors and unfolds across three levels (institutional, project, and operational). The use of this theoretical framework makes visible the role of spatial, discursive, and instrumental elements, as well as the critical importance of integrating the new dispositive with pre-existing ones.Pour traiter les « problèmes pernicieux » de politique publique, la modalité de l’expérimentation est régulièrement utilisée pour comprendre et évaluer l’intérêt d’innovations organisationnelles. Afin de mieux appréhender le déploiement d’expérimentations dans un contexte de gouvernance publique, multi-acteurs et multi-enjeux, l’article mobilise le cadre théorique du dispositif foucaldien pour étudier la concrétisation de la mesure centrale d’une expérimentation menée dans le champ de la perte d’autonomie des personnes âgées : la coordination territoriale d’appui (CTA) dans l’expérimentation Paerpa. Des processus de « mise en dispositif » sont étudiés sur deux territoires expérimentaux et mettent en évidence que le déploiement d’une telle expérimentation s’éloigne de la gestion de projet au profit d’une conception continue orientée par des activités d’agencement entre des éléments hétérogènes, distribuées entre différents acteurs et menée à trois niveaux (institutionnel, projet et opérationnel). La mobilisation du cadre théorique visibilise le rôle d’éléments spatiaux, discursifs et instrumentaux ainsi que l’importance de l’activité d’articulation du nouveau dispositif à ceux préexistantsTo address the “wicked problems” of public policy, experimentation is frequently used to understand and assess the value of organizational innovations. To better grasp the deployment of such experiments within a public governance context involving multiple stakeholders and diverse issues, this article draws on the Foucauldian framework of “dispositive” to study the implementation of the central measure of an experiment conducted in the field of elderly loss of autonomy: thenation (CTA in French) within the Paerpa experiment. Processes of “dispositive formation” are studied in two experimental territories. They highlight that the deployment of an experiment diverges from traditional project management, involving a continuous design process guided by the assemblage of heterogeneous elements. This process is distributed among various actors and unfolds across three levels (institutional, project, and operational). The use of this theoretical framework makes visible the role of spatial, discursive, and instrumental elements, as well as the critical importance of integrating the new dispositive with pre-existing one
Takeover threats, institutional ownership, and investment efficiency
No full textInternational audienceWe provide a novel framework to understand the complementary role between takeover threats and institutional ownership in ensuring high investment efficiency: institutional investors produce information which alleviates the negative impact of takeover threats while takeover threats empower institutional investors. Utilizing exogenous variations of takeover threats, we find consistent evidence with the model. The complementary relation is stronger for firms in industries that emphasize short-term earnings. Additional tests reveal the findings are unlikely the result of selection. As a result of the complementary relation, antitakeover provisions are detrimental to investment efficiency when institutional ownership is high
Newswire tone-overlay commodity portfolios
No full textInternational audienceThis paper introduces the tone-overlay framework for adjusting traditional commodity signals based on the level of salient optimism or pessimism in commodity newswires. By implementing the novel tone-overlay allocation strategy on 26 commodities using traditional allocation signals, we demonstrate that the resulting long-short portfolios yield substantial performance gains compared to the corresponding plain-vanilla traditional portfolios. Our findings suggest that newswire tone provides short-term predictive power for commodity futures returns, beyond well-known commodity characteristics. The tone-overlay portfolios harness a temporary mispricing that reflects an overreaction of commodity futures prices to commodity-specific newswire tone. The outperformance of the tone overlay strengthens with the salience of the newswire tone, consistent with theories of limited investor attention