[eng] Does market volatility increase ? . The French stock exchange has known a deep fall in prices for 3 years with great uncertainties on economic activity and firms' finances. So, this article deals with the size of market' s turbulences, their origins and the measures to take. A proper...

L'objectif de cet article est d'appréhender le choix d'une structure financière dans une théorie de la firme reposant sur la formation de capital organisationnel, associé à la relation d'emploi. Après avoir défini la notion de capital organisationnel, une modélisation des liens entre la...

The objective of this article is to analyse financial decisions within the context of the theory of the firm, based on the concept of organisational capital, associated to labor relations. After defining the concept of organisational capital, a model of the links between financial structure and...

(VF)Cet article propose un modèle de l’incidence du cadre légal sur la forme du revenu des actionnaires. Le modèle permet de traiter successivement le droit des créanciers, le droit des actionnaires et la réglementation du travail. Le modèle révèle des différences dans l’asymétrie...

This paper presents the first empirical evidence showing that the marriage of a member of the controlling family adds value to public corporations. The results, based on a uniquely comprehensive data set from Thailand, show that the family firm’s stock price increases when the partner is from...

This paper investigates a little studied but common mechanism that firms use to obtain state favors: business owners themselves seeking election to top office. Using Thailand as a research setting, we find that the more business owners rely on government concessions or the wealthier they are,...

This paper analyzes family-owned banks in Thailand. Using the data before the financial crisis, we find that wealthy families extensively use pyramids to control a business empire which includes financial and non-financial firms. We analyze the entire family group structure and find that...

This paper investigates a little studied but common mechanism that firms use to obtain state favors: business owners themselves seeking election to top office. Using Thailand as a research setting, we find that the more business owners rely on government concessions or the wealthier they are,...

This paper shows that pyramidal ownership can be used to control downside risk. The research setting is Thailand before and after the 1997 Asian crisis. The focus is on family business groups that owned banks. The results show that the controlling family pursues different investment strategies...

This paper investigates the mechanisms that firms use to get state favors. We focus on a less well studied but common mechanism: business owners seeking election to top office. Using Thailand as a research setting, we find that business owners who rely on government concessions or are wealthier...