Publications des institutions partenaires
Shifting Blances of Power and New Forms of Corporate Control - Three Essays on Corporate Responsibility and Corporate Governance in a Globalized Economy
Institution partenaire
English / 01/02/2014
Private provision of public goods and asset prices
In capitalist societies it is the role of the state to establish the preconditions that promote societal well-being through proper functioning markets.
On the other hand enterprises have a right to provide goods and services in return for private profit. This sharp contrast between government and corporate responsibilities is created by a theoretical idealized first-best world...
Institution partenaire
English / 01/01/2014
Resistance to agricultural biotechnology: The importance of distinguishing between weak and strong public attitudes
Empirical research shows that European governments and retailers are unlikely to be directly punished by taxpayers and consumers if they move away from their anti-GMO positions and policies. However, it is ultimately not the weak attitudes of taxpayers and consumers that matter to governments and retailers but the strong attitudes of the noisy anti-biotech movement.
Institution partenaire
English / 01/10/2013
Voluntary corporate climate initiatives and regulatory loom: Batten down the hatches
King and Lenox (2001) argued that “when does it pay to be green” might be a more important question for firms than whether it pays at all. We present an event study that suggests that it pays in the tangible presence of regulatory pressure, depending on how well the chosen scheme to become green fits with the threatened regulatory design. To this end, we exploit the unexpected...
Institution partenaire
English / 01/10/2013
Synthesizing a giant literature: a narrative of quantitative evidence on causes and consequences of financial sector development
The aim of this synthesis paper is to provide a narrative to the empirical findings of the comprehensive literature review concerning the quantitative effects of financial development on economic growth and employment and various determinants of financial sector development. The literature review has been restricted mostly to high-quality academic research that focus on developing...
Institution partenaire
Institut de hautes études internationales et du développement
English / 13/08/2013
Strategic sustainability and financial performance: Exploring abnormal returns
The ongoing empirical debate about whether SRI is associated, if anything, with subpar or surpassing financial performance is characterized by a somewhat indistinct focus and the infeasibility of tapping the full potential of existing models. By indistinct focus, we mean an analysis based on an aggregation of a myriad of SRI factors that potentially affect a firm’s financial...
Institution partenaire
English / 01/07/2013
Sustainability and risk in real estate investments: combining monte carlo simulation and dcf
This paper identifies the relative contribution of sustainability criteria to property value risk. We use a discounted cash flow (DCF) model to assess the effect of a given set of 42 sustainability sub-indicators on property value. The anticipated demand for each sustainability sub-indicator is described by four future states of nature. Their impact on costs and/or revenue is...
Institution partenaire
English / 01/06/2013
Do Private Standards encourage or hinder trade and innovation?
Humankind shares a common interest in the safety of the products it uses and consumes and an increasing interest in the way the product has been produced. In a globalized world, private standards play a role in ensuring the safety and sustainability of products and production methods. The co-management of the public good ‘food safety’ by the public and the private sector is not new...
Institution partenaire
English / 01/06/2013
Public debt and economic growth: is there a causal effect?
This paper uses an instrumental variable approach to study whether public debt has a causal effect on economic growth in a sample of OECD countries. The results are consistent with the existing literature that has found a negative correlation between debt and growth. However, the link between debt and growth disappears once we instrument debt with a variable that captures valuation...
Institution partenaire
Institut de hautes études internationales et du développement
English / 21/05/2013
Havas and the foreign loan market, 1889 to 1921
Institution partenaire
Institut de hautes études internationales et du développement
English / 17/05/2013
Profits vs. impact: what can microfinance teach us?
How can the private sector work for development? This paper provides answers to this question from the firms’ perspective by examining the trade-offs that private firms face between maximizing their profits and achieving a positive social impact. In particular, it considers the experience of microfinance as the best available data source from the point of view of a firm engaged in...
Institution partenaire
Institut de hautes études internationales et du développement
English / 17/05/2013
Inequality, poverty and the 2010 election
Institution partenaire
Institut de hautes études internationales et du développement
English / 08/04/2013
Spatial and temporal aggregation in racial profiling
In the last decade, models of rational choice have chimed into the discussion on racial profiling, the use of race in stop and search decisions of the police. The models describe the behavior of motorists and the police and provide empirical tests to assess the question whether the police exhibit racial animus. However, existing studies have neglected the effect of spatial and...
Institution partenaire
English / 01/03/2013
Democratizing corporate governance: Compensating for the democratic deficit of corporate political activity and corporate citizenship
This article addresses the democratic deficit that emerges when private corporations engage in public policy, either by providing citizenship rights and global public goods (corporate citizenship) or by influencing the political
system and lobbying for their economic interests (strategic corporate political activities). This democratic deficit is significant, especially when...
Institution partenaire
English / 01/01/2013
Marginally discriminated: the role of outcome tests in European jurisdiction
For decades, racial profiling has been subject of intense debate in US jurisdiction. Recently, outcome tests based on economic models have contributed to the legal discourse. However, it is not readily obvious if and to what extent they also pertain to European jurisdiction, where racial profiling has only as of late stirred up controversy. In a comprehensive examination of their...
Institution partenaire
English / 01/01/2013
Finance and economic development
Institution partenaire
Institut de hautes études internationales et du développement
English / 18/10/2012
Is Socially Responsible Investing Really Beneficial? New Empirical Evidence for the US and European Stock Markets
This paper empirically examines the theoretically ambivalent relationship between socially responsible investing (SRI) and stock performance. It extends the existing literature by considering both the US and the entire European stock markets as well as by using consistent world-wide corporate sustainability performance data. Our portfolio analysis from 1998 to 2009 reveals the appeal...
Institution partenaire
English / 01/05/2012
Private business firms, human rights, and global governance issues: An organizational implementation perspective
We analyse the increasing engagement of business in the creation and application of self-regulatory standards in the area of human rights in the light of an emerging framework of transnational human rights initiatives. The voluntariness of most of these approaches leads to problems that are characteristic of organizational self-regulation initiatives. Our analysis will show that...
Institution partenaire
English / 01/01/2012
Verified emissions and stock prices: Is there a Link? - An empirical analysis of the European Emissions Trading Scheme
Institution partenaire
English / 01/01/2012
Two dimensions of corporate sustainability assessment: towards a comprehensive framework
Over the last years, many approaches have emerged that attempt to measure the contribution of firms to sustainable development, i.e. corporate sustainability. Our review of existing methodologies for the assessment of corporate sustainability reveals two major shortcomings. First, value creation as a core condition for sustainability as well as for further contributions to economic...
Institution partenaire
English / 01/01/2012
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