The statistical analysis of cross-section data very often reveals a U-shaped relationship between subjective well-being and age. This paper uses fourteen waves of British panel data to distinguish between a pure life-cycle or aging effect, and a fixed cohort effect that depends on year of birth....

This paper studies the determinants of sovereign bond yields in nine emerging Asian countries over the period 1994-2012. In the long-run, we first reveal that sovereign bond yields weakly and negatively depends on the changes in public debt. This result is not consistent with the theoretical...

Après avoir mis en évidence les problèmes de gouvernance posés par la " nouvelle firme ", désintégrée verticalement et intensive en capital humain, nous avançons que la responsabilité sociale de l'entreprise (RSE) peut servir à réguler les rapports de force entre les partenaires...

Relative to the decision to go public, the decision to delist is less studied in the corporate finance literature despite its importance in the life of the firm. This article surveys the recent literature, both theoretical and empirical, regarding delisting in an international context...

This paper puts forward an explanation of the rapid increase in golden handshake provision in Europe over the last ten years, based on both enhanced investor protection and attractive tax codes for severance pay. This article takes up a framework in which asymmetric information about the quality...

The initial view of the advantages of ownership concentration in joint stock companies was determined by the concern about the opportunistic managerial behavior. The growing importance of knowledge and human capital in the operation of firms shifts the focus of concern: excessive ownership...

This paper explores the relationship between ownership structure and firm value in a transition economy. It distinguishes firms belonging to the sector of innovative technologies and firms from more "traditional" industries. For the latter, the results of the estimation of a simultaneous...

The aim of this paper is to propose an instrumental analysis of corporate social responsibility (CSR). After underlining the corporate governance issues raised by the "new firm", which is vertically disintegrated and intensive in specific human capital, we argue that CSR can be useful as a means...

We reveal the non-separation of ownership and control for multiple blockholders in the French insider governance system. We show that overlapping directorships of large listed corporations are explained by their ownership connections. Both large and small stakes, from 20% to 1% of cash-flow...

Calée sur la légitimité du marché, la Corporate Governance vient construire une soft law qui lui permette de faire prévaloir ses intérêts dans le cadre d'une hard law, celle de la société anonyme (SA). Ce qui nous intéresse ici est de souligner le passage de la gouvernance comme...