Publications

The present research sets out to reach a better understanding of the determinants of business angels’ active involvement in making business angel groups accomplish diverse functions and building cognitive resources and shared competencies. We develop a framework where angels’ decision making style and professional experience are key in explaining their degree and type of involvement with diverse business angel group activities. To test the related propositions, we conduct a questionnaire survey with the members of one of the largest French business angel groups. Our results show that business angels with a control-oriented decision-making style, as well as angels with previous professional experiences as a CEO and in marketing and sales, tend to be more actively involved in key angel group activities, both with regard to investment related activities and angel group management activities. While discussing the results, we propose a tentative model of angel group cognition and outcomes for future extensions of the present research.

La diversité cognitive est souvent marquée entre les différents investisseurs (business angels et capital-risqueurs) et les dirigeants de start-up. Cette diversité est à la fois source d’innovation et de mécompréhension entre les acteurs. Elle doit donc être coordonnée pour non seulement assurer la survie de l’entreprise mais aussi lui permettre de se développer dans un environnement technologique turbulent. À l’aide d’une étude de cas longitudinale comparative de deux start-ups en relation avec différents investisseurs, nous menons une étude exploratoire pour investiguer la fonction de coordination cognitive. Nous élaborons un modèle des qualités que doit réunir un acteur afin de pouvoir exercer cette fonction.

This study examines the relationship between family firms and carbon emissions using a large cross-country dataset of 6600 non-financial firms over the period 2010–2019. We find that family firms emit less carbon than non-family firms, especially after the Paris Agreement. Several factors contribute to this outcome, including governance structure, the degree of family control, R&D spending, and the issuance of green patents. Our study also shows that despite lower carbon emissions, family firms have lower environmental scores, primarily due to their reduced public commitment to emission reduction. Both environmental scores and carbon emissions increase when non-family CEOs are appointed and when family ownership decreases, indicating that agency conflicts may influence these outcomes.

Relationship lending is well known to allow SMEs to obtain credit, however one of the most crucial obstacles for these firms is not obtaining credit but applying for credit in the first place. We explore how relationship lending impacts the demand for credit, i.e., borrower's discouragement. Using a European cross-country survey of more than 2300 firms in 2010, we show that firms that rely on relationship lending to get access to credit refrain from applying in the first place. We show that this result is due to a self-rationing mechanism: riskier firms employing relationship lending tend to be more discouraged. Instead, the use of transactional lending reduces discouragement, and this effect does not depend on firms' risk. Our results suggest that firms employing relationship lending know their own likelihood of rejection better and can decide when not to apply.

This study demonstrates how female role model encourages women-led firms to apply for a credit. Employing a sample of 29,157 firms from 112 countries between 2009 and 2020, our results indicate that the exposure to a female political leader offsets the likelihood for woman-led firms to be discouraged. This is explained by reduced emotional barriers to apply for a credit and is function of the personal status of the role model and its proximity with the female CEO.

Trust towards banks plays a central role in theoretical literature. Diamond and Dybvig (1983) argue that in a trustworthy environment banks can easily collect deposit foster banking activity and asset transformation. Diamond and Rajan (2001) posit that a high trust environment discourages banks from creating liquidity. To address these conflicting views, the current study measures liquidity creation using Berger and Bouwman's (2009) methodology, then assesses the level of trust in the environment with four proxies and two additional instruments deployed in previous research. The results confirm a positive effect of trust in banks on liquidity creation, especially for small or state-chartered banks and during economic downturns. The results are robust to time effects and potential endogeneity concerns.

Is bank profitability beneficial for economic growth? While policymakers have shown major concerns for low levels of bank profitability, the influence of bank profitability on economic growth remains an open question. While it can favor economic growth by strengthening financial stability, it can also result from lower competition and as such depress economic growth. We provide the first empirical investigation to appraise the impact of bank profitability on economic growth. We examine a panel of 132 countries during the period 1999-2013 using generalized method of moments (GMM) dynamic panel techniques. We document a positive impact of bank profitability on economic growth in both the short-run and the long-run. These findings are robust to controlling for the dynamics of banks' profits. They are also robust to alternative measures, specifications, and time periods. They support the view that bank profitability should be promoted by authorities for growth concerns.

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Inscrite dans la perspective des pratiques, cette recherche vise à identifier si la co-création de valeur se reflète dans des pratiques singulières du marketing. L'analyse d'entretiens menés avec 15 managers met au jour des modalités plurielles des pratiques du marketing, "co-créative" et "orthodoxe", qui émergent par l'action des praticiens face à leur contexte organisationnel. En particulier, la modalité "co-créative" des pratiques est déployée par des praticiens qui espèrent faire entendre la voix du marketing en favorisant l'irruption du client allié dans l'organisation.

Objectif : L’objectif de cet article est de proposer un outil de mesure de perception du stress au sein de structures médico-sociales et à en analyser les résultats. Champs de l’étude : Cette recherche a été menée au sein de 26 Etablissements Hébergeant des Personnes Agées Dépendantes (EHPAD) répartis sur toute la France et intègre des structures citadines, rurales, de tailles, de statuts et de niveau de dépendance différents. Population étudiée : Tous les professionnels présents au sein de l’établissement au moment de l’étude. Méthode : Le questionnaire a été construit à partir de de trois structures pilote. Chaque échelle a été testée en fonction des alphas de Cronbach, α. Les résultats ont été exploités via une régression linéaire multiple de la fonction perception du stress. Résultats : La recherche porte sur 914 professionnels qui ont participé à cette étude. Le questionnaire comporte 42 questions portant sur des variables spécifiques aux conditions de travail et d’autres plus spécifiques aux critères identifiés lors des phases de pré test. L’alpha de Cronbach fait apparaître un coefficient de .893, quant aux 13 questions relatives aux conditions de travail, et de .848 quant aux 21 questions spécifiques au stress identifiées en focus group. Les résultats mettent en exergue 8 facteurs propres au rythme de travail, à la clarté des missions, aux interruptions des activités, au sens au travail, à la relation avec les résidents ou avec les collègues, aux ordres contradictoires et à l’encadrement. Conclusions : Certains facteurs tels que la relation avec les familles n’interviennent pas dans l’analyse des causes du stress, mettant en avant des facteurs organisationnels plus marqués, qui sont de réels leviers d’actions pour le manager.