Recherche académique à emlyon business school
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Flow methods for cooperative games with generalized coalition configuration
No full textInternational audienceA cooperative games with a coalition structure is formed by a TUgame and a partition of the agent set. For this class of games, the Owen value is computed as a two-step procedure where the relevant coalitions are those formed by the union of some elements of the partition and a coalition of another element of the partition. In this paper, we consider a broader class of games where the partition is replaced by a collection of (not necessarily pairwise disjoint) coalitions over the agent set and where, in each element of this collection, cooperation among the agents is restricted. Agents then organize themselves into a profile of feasible coalitions. This class of games can be applied to several situations such as the problem of allocating aircraft landing fees in the presence of airlines and codeshare flights. We begin by defining and axiomatically characterizing the class of flow methods, which are marginal values whose coefficients induce a unit flow on the graph of feasible coalition profiles. We then define Owen-type values constructed from flow methods. We show that these values are flow methods whose flow is decomposable into two flows. Finally, we introduce two axioms from which we characterize the flows that can be decomposed in this way, and hence the flow methods constructed by our Owen-type procedure. The last part of the paper studies some special cases
A model of embedded coalition formation and the Shapley values for games with externalities
No full textThis article proposes a stochastic model of embedded coalition formation for cooperative games with externalities. The coalition formation process is sequential and depends on a linear order over the agent set. From this process, Shapley-like values are defined and several equivalent expressions are provided. We introduce a commutativity property for the stochastic processes that guarantees that the Shapley-like values coincide with the Shapley value of an average game (Macho-Stadler et al., 2007) consistent with the underlying stochastic process of embedded coalition formation. Unlike the approach of Macho-Stadler et al. (2007), the probabilities from which the average game is computed are not necessarily symmetric, i.e., they do not necessarily depend on the sizes of the elements of the partition. Next, we provide several axiomatic characterizations for these Shapley-like values that are as close as possible to the best-known axiomatic characterizations for the Shapley value for TU-games. We consider axiomatic characterizations in the two main domains of fixed population and variable population
Les valeurs cachées de l'art
No full textThis research work explores the art market, how it works, its players, the question of artistic value and its profitability. Chapter 1 presents the organisation of the art market, structured between public and private sales and institutions. Auctions occupy a central place, with a codified protocol involving auctioneers and auctioneers. Anglo-Saxon houses, notably Sotheby's and Christie's, dominate the global market. Their history, internal organisation and financial performance are analysed. In France, auctioneers enjoy a specific legal status, illustrated by the role of the Hôtel Drouot. Art buyers form a heterogeneous category, including collectors, investors and institutions. Particular attention is paid to the rise of Asian customers on the international market. The purchase of works of art sometimes responds to a social logic of distinction, linked to the Veblen effect. Gallery owners and art dealers act as mediators between artists and collectors. Artists, for their part, depend on sales, but also on rights (such as resale rights) for their income. Chapter 2 examines the concept of value in art. A work may have a market value, determined by supply and demand. But it also has an intrinsic value, linked to its artistic quality, history or rarity. The valuation of a work is based on various criteria: the artist's reputation, provenance, condition, etc. Experts play a decisive role in this evaluation, although a degree of subjectivity remains. The evaluation of works by young artists requires criteria adapted to their career path. The relationship between valuation and sale price is studied through economic models. Authors such as Walter Pommerehne and Bruno Frey propose an econometric approach to the art market. Gersaint's law, dating from the 18th century, reminds us that art has always been subject to commercial logic. The experts' point of view confirms that estimates strongly influence sales results. Chapter 3 deals with the profitability of art as an investment. An analysis of the prices of Impressionist, modern and contemporary works is provided. The study highlights the surge in prices between 1987 and 1990, followed by a sharp reversal in 1991. William Baumol's theory shows that, in the long term, art is not always more profitable than other investments. However, some exceptional cases show very high returns. The study draws on databases and statistical tools to objectively assess market trends. Price trends, trading volumes and the nationality of artists are key factors. The profitability of the art market varies greatly, depending heavily on the segments studied. Finally, Paribas Bank provides a structural analysis of current prices, confirming the complexity of the market.Ce travail de recherche explore le marché de l’art, son fonctionnement, ses acteurs, la question de la valeur artistique et sa rentabilité. Le chapitre 1 présente l’organisation du marché de l’art, structuré entre ventes publiques, privées et institutions. Les ventes aux enchères occupent une place centrale, avec un protocole codifié impliquant commissaires-priseurs et auctioneers. Les maisons anglo-saxonnes, notamment Sotheby’s et Christie’s, dominent le marché mondial. Leur histoire, leur organisation interne et leurs performances financières sont analysées. En France, les commissaires-priseurs bénéficient d’un statut juridique spécifique, illustré par le rôle de l’Hôtel Drouot. Les acheteurs d’art forment une catégorie hétérogène, comprenant collectionneurs, investisseurs et institutions. Une attention particulière est portée à la montée de la clientèle asiatique sur le marché international. L’achat d’œuvres répond parfois à une logique sociale de distinction, liée à l’effet Veblen. Les galeristes et marchands d’art agissent comme médiateurs entre artistes et collectionneurs. Les artistes, quant à eux, dépendent des ventes, mais aussi de droits (comme le droit de suite) pour leurs revenus. Le chapitre 2 s’interroge sur la notion de valeur dans l’art. Une œuvre peut avoir une valeur marchande, déterminée par l’offre et la demande. Mais elle possède aussi une valeur intrinsèque, liée à sa qualité artistique, son histoire ou sa rareté. L’estimation d’une œuvre repose sur des critères variés : notoriété de l’artiste, provenance, état de conservation, etc. Les experts jouent un rôle déterminant dans cette évaluation, bien qu’une part de subjectivité demeure. L’évaluation des œuvres de jeunes artistes nécessite des critères adaptés à leur parcours. La relation entre estimation et prix de vente est étudiée à travers des modèles économiques. Des auteurs comme Walter Pommerehne et Bruno Frey proposent une approche économétrique du marché de l’art. La loi de Gersaint, datant du XVIIIe siècle, rappelle que l’art a toujours été soumis à des logiques commerciales. Le point de vue des experts confirme que les estimations influencent fortement les résultats des ventes. Le chapitre 3 traite de la rentabilité de l’art en tant qu’investissement. Une analyse des prix des œuvres impressionnistes, modernes et contemporaines est proposée. L’étude met en lumière la flambée des prix entre 1987 et 1990, suivie d’un retournement brutal en 1991. La théorie de William Baumol montre que l’art, à long terme, n’est pas toujours plus rentable que d’autres placements. Cependant, certains cas exceptionnels montrent des rendements très élevés. L’étude prend appui sur des bases de données et outils statistiques pour objectiver les évolutions du marché. L’évolution des prix, des volumes échangés et la nationalité des artistes sont des facteurs clés. La rentabilité du marché de l’art est variable, dépendant fortement des segments étudiés. Enfin, la banque Paribas fournit une analyse structurelle des prix actuels, confirmant la complexité du marché
Digital transformation in sales organizations : antecedents of sales managers’ change readiness and championing behaviors
No full textInternational audiencePurposeAlthough organizations are investing heavily in digital transformation (DT) of the sales function, implementation and exploitation at the sales force level are ongoing challenges. As sales managers serve as conduits of influence between top management and the sales force, the success of strategic initiatives, such as DT, hinges heavily on leveraging their influence to promote change adoption at the sales force level. Accordingly, this research is guided by the research question: how can sales organizations secure the buy-in of sales managers and induce their championing behaviors directed toward the sales force?. The purpose of this paper is to investigate how organizational and psychological resources influence sales managers' DT change champion through their change readiness.Design/methodology/approachConstruing DT in sales as an organizational change that creates contextual job demands, the theoretical framework offers several hypotheses linking organizational and personal resources with sales managers’ change readiness and championing behaviors. The perceived impact of change is included as a moderating variable. Using data from a sample of 176 business-to-business sales managers, the hypotheses are tested using partial least squares structural equation modeling.FindingsThe authors demonstrate that two change-related organizational resources (change communication and change mobilization) and a personal psychological resource (psychological capital) facilitate sales managers’ emotional and cognitive change readiness, which, in turn, enhances their championing behaviors toward DT initiatives. Further, the authors find that perceived change impact augments the effects of organizational and psychological resources on change readiness, thus highlighting the importance of effective positioning of the outcomes of change.Practical implicationsThis study provides practitioners with actionable guidance on securing the buy-in of sales managers for change initiatives such as DT. Specifically, communication and mobilization are critical inducements. Managers who score high on psychological capital can be targeted as change agents. Further, the impact of change needs to be framed positively, as the resultant perceptions magnify the effects of organizational resources.Originality/valueWhile prior research has examined salespeople’s response to change, very little is known about the antecedents of change readiness and championing behavior among sales managers. Based on the results, the authors identify theoretical and managerial implications as well as future research directions.<br/
Construire une marque forte : Exploiter la richesse du brand voicing
No full textInternational audience40 dirigeants et chercheurs mettent à jour les pratiques qui annoncent l'ère du brand voicing, à travers des témoignages et cas concrets.La gestion de la marque a profondément changé depuis 5 ans. Bousculée sur les réseaux sociaux, sommée de prouver chaque jour sa dimension responsable, la marque doit accroître sa valeur commerciale et réputationnelle tout en restant audible.Véritable guide opérationnel, ce manuel vous donnera toutes les clés pour :• défendre vos budgets en justifiant pourquoi certains investissements sont nécessaires pour résister aux crises futures ;• suivre pas à pas une méthode synthétique pour consolider votre plateforme de marque ;• prendre la mesure des bouleversements digitaux et sociaux récents pour mettre en place une communication optimisée.Vous apprendrez grâce à cet ouvrage à faire résonner une voix forte et cohérente, en vous appuyant sur les vertus du storytelling (le fond) et en exploitant la richesse du brand voicing (la méthode).<br /
Leveraging blockchain technology for circularity in agricultural supply chains : evidence from a fast-growing economy
No full textInternational audiencePurpose - The authors originally explore the factors for blockchain technology (BCT) adoption in agricultural supply chains (ASCs) to enhance circularity and understand the dependencies, hierarchical structure and causalities between these factors. Design/methodology/approach - Based on an extant literature review and expert opinion, the present study identified ten enablers for adopting BCT to leverage the circular economy (CE) practices in the ASCs. Then, using an integrated interpretive structural modeling and decision-making trial and evaluation laboratory (ISM-DEMATEL) approach, hierarchical and cause–effect relationships are established. Findings - It was observed that traceability is the most prominent enabler from the CE perspective in ASCs. However, traceability, being a net effect enabler, will be realized through the achievement of other cause enablers, such as seamless connectivity and information flow and decentralized and distributed ledger technology. The authors also propose a 12 Rs framework for enhancing circularity in ASC operations. Research limitations/implications - The paper identifies enablers to BCT adoption that will enhance circularity in ASC operations. The ISM hierarchical model is based on the driving and dependence powers of the enablers, and DEMATEL aids in identifying causal relationships among the enablers. Practical implications - The study's findings and proposed 12 Rs framework may help the practitioners and policymakers devise effective BCT implementation strategies in ASCs, thereby empowering sustainability and circularity. Originality/value - This study enriches the literature by identifying and modeling enablers for BCT adoption in ASCs. The study also proposes a new 12 Rs framework to help enhance ASC circularity.<br /
Breaking Through Only to Break up : A Cross-Country Analysis of the Speed of Advancement and Exit of Female Executives
No full textInternational audienceWe examine the speed of advancements and exits of female executive directors vis‐à‐vis comparable men. In line with recent research, we suggest that women are likely to experience an apparent gender‐based advantage in the form of lower age at the time of their first‐ever executive director appointment. However, we argue that this advantage may be transitory. Appointed women also experience faster exits from these positions, with age partially mediating the differential speed of exits between male and female executive directors. We also contend that these effects are contingent on countries' local gender norms (especially women's economic participation) such that lower gender parity leads to even lower ages at appointments and faster exits for female executive directors. Results based on 15,202 unique rookie executive directors from 33 countries between 2002 and 2015 largely support these predictions.<br /
Explaining the involvement and investment of women in business angel groups: The impact of organizational context and investment experience
No full textInternational audienceThis research contributes to the scarce but growing literature on women angel investors. More specifically, leveraging stereotype threat theory, we investigate the role played by the social environment in shaping investing behavior across genders. This study offers a comparison between female angels from a stereotype-threat–free environment and (a) male angels, and (b) female angel investors investing in a strongly male-dominated environment. Using proprietary survey data of 96 business angels, our findings confirm that the social context plays an important role in explaining female investment behavior and involvement in BA-group activities. We find that women in a female-only group do not feature investment behavior that differs significantly from men. Whereas women who invest as a minority in a male-dominated environment tend to behave differently. Investment experience, however, moderates the influence of male-dominated environments on female investment behavior. The study confirms earlier exploratory findings related to the role of stereotype threat in female business angel activity at the individual level. Contributing to stereotype threat theory and gender studies in the business angel literature, our findings suggest that the historically marginal contribution of women is a result of the social construction of their role in the finance industry, in which stereotype threats may be particularly prevalent, rather than of supposedly innate features of gender
Would an AI chatbot persuade you : An empirical answer from the elaboration likelihood model
No full textInternational audiencePurposeThis study investigates how artificial intelligence (AI) chatbots persuade customers to accept their recommendations in the online shopping context.Design/methodology/approachDrawing on the elaboration likelihood model, this study establishes a research model to reveal the antecedents and internal mechanisms of customers' adoption of AI chatbot recommendations. The authors tested the model with survey data from 530 AI chatbot users.FindingsThe results show that in the AI chatbot recommendation adoption process, central and peripheral cues significantly affected a customer's intention to adopt an AI chatbot's recommendation, and a customer's cognitive and emotional trust in the AI chatbot mediated the relationships. Moreover, a customer's mind perception of the AI chatbot, including perceived agency and perceived experience, moderated the central and peripheral paths, respectively.Originality/valueThis study has theoretical and practical implications for AI chatbot designers and provides management insights for practitioners to enhance a customer's intention to adopt an AI chatbot's recommendation.<br /