Ce document de travail pour objectif de montrer comment le gestionnaire engagé dans une décision courageuse régule ses émotions. À partir d’une recherche empirique réalisée auprès de gestionnaires ayant réalisé des projets de fusion d’entreprises, nous avons réalisé une...

Dans les systèmes de santé contemporains, le changement organisationnel repose surtout sur des modèles de gestion à la mode ciblant la performance, mais méconnaissant les pratiques qui ont cours dans les organisations qu’ils visent. Ainsi, si le travail des médecins et personnels...

Since the subprime crisis, securitization by financial institutions has been threatened, both in the U.S. and in Canada. In the U.S., private financial institutions have almost completely stopped their securitization activities. In Canada, the asset-backet commercial paper market is moribund and...

Le Québec a fait du Projet (Clinique) le pivot de son système de santé. Si sur le plan stratégique cela dénote une certaine audace, sur le terrain le Projet Clinique tarde à s¹implanter. Bien que le management de projet soit une approche de gestion privilégiée par le Ministère de la...

We show that some influential literature supporting the RPM efficiency view is flawed when it relies on the presale service justification for RPM. In particular we consider presale services that do not modify in use value of a good, what we term sterile services. We debunk what we call the Bork...

A structural event study methodology accounts for the interaction of two M&A effects: synergy (total value) and dominance (bargaining power). This interaction jointly (simultaneously) determines the parties’ abnormal returns. We propose an instrumental variable approach. An application in...

The Canadian banking system is considered one of the “best” in the world (Bordo et al., 2011). To examine this question we compare the risk-return trade-off of Canadian and U.S. banks in the context of market-based banking. We find that the sources of non-traditional income are actually more...

Data suggest a change in banks’ performance attributable to a greater involvement in non-traditional activities. Indeed, market-oriented banking increases banks’ accounting returns at the cost of a higher volatility in financial results. The motivation of this paper is to study how bank...

Traditional leverage ratios assume that bank equity captures all changes in asset values. However, in the context of market-oriented banking, capital can be funded by additional debt or asset sales without directly influencing equity. Given the new sources of liquidity generated by...

This paper investigates how banks, as a group, react to macroeconomic risk and uncertainty, and more specifically the way banks systemic risk evolves over the business cycle. Adopting the methodology of Beaudry et al. (2001), our results clearly suggest that the dispersion across banks...