This paper analyses the impact of competition among downstream firms on an upstream firm's payoff and on its incentive to vertically integrate when firms on both segments negotiate optimal contracts. We argue that tougher competition decreases the downstream industry profit, but improves the...

We propose a simple equilibrium model, where the physical and the derivative markets of the commodity interact. There are three types of agents: industrial pro- cessors, inventory holders and speculators. Only the two first of them operate in the physical market. All of them, however, may...

The competition between SEAQ International and Continental European equity markets to attract transactions in the most actively traded European stocks has intensified since the late 1980s. Because their transactions are organised in a different manner, and because reporting standards are not the...

This paper gives an account of a study of the emergence of SRI in France. This research aims at understanding the process favouring the integration of SRI within financial market. We focus on the role of mutual funds. The interpretation is elaborated with legitimacy theory, more precisely with...

What is the impact of voluntary corporate environmental disclosures on the cost of equity? The present study will attempt to answer this question. The empirical research is based on companies listed in the French SBF 120 stock market index. In 2006, most of these companies devoted a section of...

Until recently, the field of strategy has neglected the question of what it means to be a strategist. Based on an analysis of 68 interviews with strategy practitioners, our results highlight four main tensions that emerge from strategists' discourses on strategizing work: the social tension, the...

Purpose – The purpose of this paper is to examine the contours of the emerging business education and institutions in a multi-polar world and to identify the causes of the strategic convergence of management education, to explore the limitations of the dominant models of management education...