nep-bec New Economics Papers
on Business Economics
Issue of 2005‒06‒05
twenty-two papers chosen by
Christian Calmes
Universite du Quebec en Outaouais

  1. Rare Events and the Equity Premium By Robert J. Barro
  2. The Role of Industry, Geography and Firm Heterogeneity in Credit Risk Diversification By M. Hashem Pesaran; Til Schuermann; Björn-Jakob Treutler
  3. Making Sense of Bolkestein-Bashing: Trade Liberalization under Segmented Labor Markets By Gilles Saint-Paul
  4. Growth or Glamour? Fundamentals and Systematic Risk in Stock Returns By John Y. Campbell; Christopher Polk; Tuomo Vuolteenaho
  5. Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies By Viral V. Acharya; Heitor Almeida; Murillo Campello
  6. The Rise in Firm-Level Volatility: Causes and Consequences By Diego Comin; Thomas Philippon
  7. Solving Models with Imperfect and Asymmetric Information By Pawel Kowal
  8. Optimal Policy Projection By Lars O. Svensson; Robert J. Tetlow
  9. Évaluation de risque du projet de migration vers la suite bureautique libre sous Linux <BR>Groupe utilisateurs finaux By Malika Aboubekr; Suzanne Rivard
  10. Advances in Negotiation Theory: Bargaining, Coalitions and Fairness By Carlo Carraro; Carmen Marchiori; Alessandra Sgobbi
  11. Network Capital and Social Trust: Pre-Conditions for ‘Good’ Diversity? By Sandra Wallman
  12. Your Money or Your Life: Changing Job Quality in OECD Countries By Andrew E. Clark
  13. Modeling ‘No-choice’ Responses in Attribute Based Valuation Surveys By Arianne T. de Blaeij; Paulo A.L.D. Nunes; Jeroen C.J.M. van den Bergh
  14. A Theory of Pyramidal Ownership and Family Business Groups By Heitor Almeida; Daniel Wolfenzon
  15. Parental Leave - A Policy Evaluation of the Swedish "Daddy-Month" Reform By John Ekberg; Rickard Eriksson; Guido Friebel
  16. Corporate Social Responsibility: Strategic Implications By Abagail McWilliams; Donald S. Siegel; Patrick M. Wright
  17. Is Trust a Bad Investment? By Nava Ashraf; Iris Bohnet; Nikita Piankov
  18. Coordination des négociations salariales en UEM : un rôle majeur pour la BCE. By Blandine ZIMMER
  19. A Role for Instructions By Irene Valsecchi
  20. Optimal Capital Investment, Uncertainty and Outsourcing By Justin Y. Lin; Yingyi Tsai; Ching-Tang Wu
  21. Pour une approche dialogique du rôle de l’entrepreneur / manager dans l’évolution des PME : l’ISO comme révélateur… By Frédéric CREPLET; TBlandine LANOUX
  22. Les Portails d’entreprise : une réponse aux dimensions de l’entreprise « processeur de connaissances » By Frédéric CREPLET

  1. By: Robert J. Barro
    Abstract: The allowance for low-probability disasters, suggested by Rietz (1988), explains a lot of puzzles related to asset returns and consumption. These puzzles include the high equity premium, the low risk-free rate, the volatility of stock returns, and the low values of typical macro-econometric estimates of the intertemporal elasticity of substitution for consumption. Another mystery that may be resolved is why expected real interest rates were low in the United States during major wars, such as World War II. This resolution works even though price-earnings ratios tended also to be low during the wars. This approach achieves these explanations while maintaining the tractable framework of a representative agent, time-additive and iso-elastic preferences, complete markets, and i.i.d. shocks to productivity growth. Perhaps just as puzzling as the high equity premium is why Rietz's framework has not been taken more seriously by researchers in macroeconomics and finance.
    Date: 2005–05
  2. By: M. Hashem Pesaran; Til Schuermann; Björn-Jakob Treutler
    Abstract: In theory the potential for credit risk diversification for banks could be substantial. Portfolio diversification is driven broadly by two characteristics: the degree to which systematic risk factors are correlated with each other and the degree of dependence individual firms have to the different types of risk factors. We propose a model for exploring these dimensions of credit risk diversification: across industry sectors and across different countries or regions. We find that full firm-level parameter heterogeneity matters a great deal for capturing differences in simulated credit loss distributions. Imposing homogeneity results in overly skewed and fat-tailed loss distributions. These differences become more pronounced in the presence of systematic risk factor shocks: increased parameter heterogeneity greatly reduces shock sensitivity. Allowing for regional parameter heterogeneity seems to better approximate the loss distributions generated by the fully heterogeneous model than allowing just for industry heterogeneity. The regional model also exhibits less shock sensitivity.
    Keywords: Risk management, default dependence, economic interlinkages, portfolio choice
    JEL: C32 E17 G20
    Date: 2005–05
  3. By: Gilles Saint-Paul (University of Toulouse 1, CEPR and IZA Bonn)
    Abstract: Trade liberalization is often met with sharp opposition. Recent examples include the so-called "Bolkestein" directive, which allows service providers from a given EU member to temporarily work in another member country. One way to view such a reform is that it simply widens the range of goods that are tradeable. This kind of reform is analyzed in a two-country Dornbusch-Fischer-Samuelson style model, where labor cannot relocate to another sector upon a non expected increase in the range of goods that can be traded. The effect of liberalization on the terms of trade tends to favor the poorer country (the "East"), if (as assumed) the most sophisticated goods are tradeable before reform. Second, under ex-post liberalization, there exists a class of workers in the West who are harmed because they face competition from Eastern workers and cannot relocate to other activities. But if the East's economy is relatively small, their wage losses are not very large. Things are different, however, if there exist asymmetries in labor market institutions, such that upon reform, labor can relocate in the East but not in the West. Some workers in the West can then experience very large wage losses. Thus, rigid labor markets in the West magnify opposition to reform there.
    Keywords: trade liberalization, European integration, Bolkestein directive, labor mobility, labor market institutions, comparative advantage, terms of trade
    JEL: F16 F11 F13
    Date: 2005–05
  4. By: John Y. Campbell; Christopher Polk; Tuomo Vuolteenaho
    Abstract: The cash flows of growth stocks are particularly sensitive to temporary movements in aggregate stock prices (driven by movements in the equity risk premium), while the cash flows of value stocks are particularly sensitive to permanent movements in aggregate stock prices (driven by market-wide shocks to cash flows.) Thus the high betas of growth stocks with the market's discount-rate shocks, and of value stocks with the market's cash-flow shocks, are determined by the cash-flow fundamentals of growth and value companies. Growth stocks are not merely "glamour stocks" whose systematic risks are purely driven by investor sentiment. More generally, accounting measures of firm-level risk have predictive power for firms' betas with market-wide cash flows, and this predictive power arises from the behavior of firms' cash flows. The systematic risks of stocks with similar accounting characteristics are primarily driven by the systematic risks of their fundamentals.
    JEL: G12 G14 N22
    Date: 2005–06
  5. By: Viral V. Acharya; Heitor Almeida; Murillo Campello
    Abstract: We model the interplay between cash and debt policies in the presence of financial constraints. While saving cash allows financially constrained firms to hedge against future income shortfalls, reducing debt - "saving borrowing capacity" - is a more effective way of securing future investment in high cash flow states. This trade-off implies that constrained firms will allocate excess cash flows into cash holdings if their hedging needs are high (i.e., if the correlation between operating cash flows and investment opportunities is low). However, constrained firms will use excess cash flows to reduce current debt if their hedging needs are low. The empirical examination of cash and debt policies of a large sample of constrained and unconstrained firms reveals evidence that is consistent with our theory. In particular, our evidence shows that financially constrained firms with high hedging needs have a strong propensity to save cash out of cash flows, while showing no propensity to reduce outstanding debt. In contrast, constrained firms with low hedging needs systematically channel free cash flows towards debt reduction, as opposed to cash savings. Our analysis points to an important hedging motive behind standard financial policies such as cash and debt management. It suggests that cash should not be viewed as negative debt.
    JEL: G31
    Date: 2005–06
  6. By: Diego Comin; Thomas Philippon
    Abstract: We document that the recent decline in aggregate volatility has been accompanied by a large increase in firm level risk. The negative relationship between firm and aggregate risk seems to be present across industries in the US, and across OECD countries. Firm volatility increases after deregulation. Firm volatility is linked to research and development spending as well as access to external financing. Further, R&D intensity is also associated with lower correlation of sectoral growth with the rest of the economy.
    JEL: E3 O3 D4
    Date: 2005–05
  7. By: Pawel Kowal (Department of Economics, Warsaw School of Economics)
    Abstract: We consider linear dynamic models with rational expectations in case of incomplete and asymmetric information as well as agents heterogeneity. This problem requires solving infinite dimensional matrix equations. We propose asymptotic expansion method to reduce this problem to the finite dimensional problem.
    Keywords: Computational Methods, Imperfect Information, Asymmetric Information, Linear Rational Expectations Model, Asymptotic Expansion.
    JEL: C61 C63 E17
    Date: 2005–05–28
  8. By: Lars O. Svensson; Robert J. Tetlow
    Abstract: We outline a method to provide advice on optimal monetary policy while taking policymakers' judgment into account. The method constructs Optimal Policy Projections (OPPs) by extracting the judgment terms that allow a model, such as the Federal Reserve Board's FRB/US model, to reproduce a forecast, such as the Greenbook forecast. Given an intertemporal loss function that represents monetary policy objectives, OPPs are the projections - of target variables, instruments, and other variables of interest -that minimize that loss function for given judgment terms. The method is illustrated by revisiting the Greenbook forecasts of February 1997 and November 1999, in each case using the vintage of the FRB/US model that was in place at that time. These two particular forecasts were chosen, in part, because they were at the beginning and the peak, respectively, of the late 1990s boom period. As such, they differ markedly in their implied judgments of the state of the world, and our OPPs illustrate this difference. For a conventional loss function, our OPPs provide significantly better performance than Taylor-rule simulations.
    JEL: E52 E58
    Date: 2005–06
  9. By: Malika Aboubekr; Suzanne Rivard
    Abstract: <P>La percée et les performances des logiciels libres incitent de plus en plus au questionnement sur leurs réelles capacités et surtout sur l’opportunité de les choisir. C’est dans cette perspective que le projet de migration vers la suite bureautique sous Linux a été lancé au Sous-secrétariat à l’inforoute gouvernementale et aux ressources informationnelles (SSIGRI). Son accompagnement par une équipe de chercheurs du CIRANO a pour objectif d’en évaluer les risques et d’en identifier les conditions de succès.<P> Ce rapport porte sur l’évaluation de l’exposition au risque du projet pour l’un des groupes participants, groupe « Utilisateurs finaux ». <BR> <B>Les principaux résultats</B> <BR>La carte de risque et l’analyse des facteurs permettent de faire les constats suivants : <UL> <LI> L’exposition au risque du projet est de moyenne à élevée; <LI> Trois objectifs, et plus particulièrement le premier, sont soumis à un degré de risque relativement élevé : Continuité opérationnelle pour l’utilisateur, Continuité d’interaction pour les utilisateurs et Soutien technique. <LI> Deux facteurs de risque ont été sous-évalués dans ce projet et ce, de par la nature même du projet :<BR> <UL>- Inadéquation fonctionnalités de la suite bureautique libre/fonctionnalités visées par l’organisation;</UL> <UL>- Degré d’interdépendance avec des unités/personnes hors projet. L’ importance de ce facteur est due au contexte dans lequel se déroule le projet en particulier à l’absence de cadre commun d’interopérabilité.</UL> <LI> Une révision de ces facteurs de risque pourrait entraîner un nouveau positionnement sur la carte d’exposition au risque pour quatre objectifs, sur les cinq, en particulier pour les deux objectifs qui sont liés aux deux facteurs sous-évalués.<BR> <UL>- Continuité d’interaction pour l’utilisateur;</UL> <UL>- Adaptation des utilisateurs à leur nouvel environnement
    Date: 2005–05–01
  10. By: Carlo Carraro (University of Venice); Carmen Marchiori (London School of Economics and Fondazione Eni Enrico Mattei); Alessandra Sgobbi (SSAV and Fondazione Eni Enrico Mattei)
    Abstract: Bargaining is ubiquitous in real-life. It is a major dimension of political and business activities. It appears at the international level, when governments negotiate on matters ranging from economic issues (such as the removal of trade barriers), to global security (such as fighting against terrorism) to environmental and related issues (e.g. climate change control). What factors determine the outcome of negotiations such as those mentioned above? What strategies can help reach an agreement? How should the parties involved divide the gains from cooperation? With whom will one make alliances? This paper addresses these questions by focusing on a non-cooperative approach to negotiations, which is particularly relevant for the study of international negotiations. By reviewing non-cooperative bargaining theory, non-cooperative coalition theory, and the theory of fair division, this paper will try to identify the connection among these different facets of the same problem in an attempt to facilitate the progress towards a unified framework.
    Keywords: Negotiation theory, Bargaining, Coalitions, Fairness, Agreements
    JEL: C72 C78
    Date: 2005–05
  11. By: Sandra Wallman (University College London)
    Abstract: This paper unpicks the assumption that because social networks underpin social capital, they directly create it – more of one inevitably making more of the other. If it were that simple, the sheer quantity of networks criss-crossing a defined urban space would be a proxy measure for the local stock of social capital. Of course the interrelationships are more complex. Two kinds of complication stand out. The first is specific: networks have both quantitative and qualitative dimensions, but the two elements have no necessary bearing on each other. The shape and extent of a network says nothing about the content of the links between its nodes. Certainly the line we draw between any two of them indicates contact and potential connection, but what kind of contact, how often, how trusting, in what circumstances, to what end…? Reliable answers to these questions need more than surface maps or bird’s eye accounts of who goes where, who speaks to whom. The second complication is a general, not to say universal, difficulty. We are stuck with the fact that sociological concepts - networks, social capital and trust included - are ‘only’ abstractions. They are ways of thinking about the apparent chaos of people behaving all over the place – here, to make it worse, in multi-cultural urban environments - but none of them is visible to be measured, weighed or quantified. This does not make the concepts ‘untrue’, and it should not stop them being useful. My hope is that we can find a nuanced perspective which will at least make the complications intelligible. At best, a multi-layered model will account for diversity in the nature of trust; and for variations in the way social capital is hoarded or distributed within and across ethnic boundaries. It would be contribution enough if we were able to specify the conditions which cause social capital, as Puttnam formulates it, to be exclusionary or inclusionary in its effect.
    Keywords: Network capital, Social trust, ‘Good’ diversity
    Date: 2005–05
  12. By: Andrew E. Clark (CNRS, PSE and IZA Bonn)
    Abstract: Job quality may usefully be thought of as depending on both job values (how much workers care about different job outcomes) and the job outcomes themselves. Here both crosssection and panel data are used to examine changes in job quality in OECD countries over the 1990s. Despite rising wages and falling hours, overall job satisfaction is either stable or declining. These movements are not due to changes in the type of workers, nor to changes in their job values. A number of pieces of evidence point to stress and hard work as being strong candidates for what has gone wrong with employees’ jobs. We find evidence of increasing inequality in a number of job outcomes. Some groups of workers have done better than others: the young and the higher-educated have been insulated against downward movements in job quality, and there is tentative evidence that trade unions may have protected their members against adverse job outcomes.
    Keywords: job values, job outcomes, job satisfaction, effort
    JEL: J28 J3 J81
    Date: 2005–05
  13. By: Arianne T. de Blaeij (Centre Utrecht (URU), Utrecht University); Paulo A.L.D. Nunes (Free University); Jeroen C.J.M. van den Bergh (Free University)
    Abstract: We examine the impact of providing a ‘no-choice’ option in an attribute based valuation experiment. The aim of the experiment was to assess monetary values of cockle fishery management practices in the Dutch Wadden Sea for different stakeholder groups, namely Dutch citizens, local residents, and tourists. The current policy debate about the management of the Wadden Sea stresses the fact that individual preferences with respect to cockle-fishery differ. The aim of this paper is to analyze the individual preferences in an objective way. Special attention is given to the influence of including a ‘no-choice option’, which is analyzed using a nested logit model. We test whether the full set of policy options can be considered as close substitutes. The estimation results show that the influence of including the no choice option differs among the stakeholders considered.
    Keywords: Stakeholder valuation, Stated choice method, Multinomial logit model, Binary logit model
    JEL: C25 C29 Q22 Q25 Q51
    Date: 2005–05
  14. By: Heitor Almeida; Daniel Wolfenzon
    Abstract: We provide a rationale for pyramidal ownership (the control of a firm through a chain of ownership relations) that departs from the traditional argument that pyramids arise to separate cash flow from voting rights. With a pyramidal structure, a family uses a firm it already controls to set up a new firm. This structure allows the family to 1) access the entire stock of retained earnings of the original firm, and 2) to share the new firm's non-diverted payoff with minority shareholders of the original firm. Thus, pyramids are attractive if external funds are costlier than internal funds, and if the family is expected to divert a large fraction of the new firm's payoff; conditions that hold in an environment with poor investor protection. The model can differentiate between pyramids and dual-class shares even in situations in which the same deviation from one share-one vote can be achieved with either method. Unlike the traditional argument, our model is consistent with recent empirical evidence that some pyramidal firms are associated with small deviations between ownership and control. We also analyze the creation of business groups (a collection of multiple firms under the control of a single family) and find that, when they arise, they are likely to adopt a pyramidal ownership structure. Other predictions of the model are consistent with systematic and anecdotal evidence on pyramidal business groups.
    JEL: G32
    Date: 2005–05
  15. By: John Ekberg (SOFI, Stockholm University); Rickard Eriksson (SOFI, Stockholm University); Guido Friebel (University of Toulouse (EHESS and IDEI), CEPR and IZA Bonn)
    Abstract: Many countries are trying to incentivize fathers to increase their share in parental leave and in household work to improve female labor market opportunities. Our unique data set stems from a natural experiment in Sweden. The data comprises all children born before (control group) and after the reform (treatment group) in cohorts of up to 27,000 newborns, mothers and fathers. We find strong short term effects of incentives on male parental leave. However, we find no learning-by doing, or specialization, effects: fathers in the treatment group do not have larger shares in the leave taken for care of sick children, which is our measure for household work.
    Keywords: natural experiment, family benefits, gender and labor, incentives
    JEL: J48 J13 J16 J22
    Date: 2005–05
  16. By: Abagail McWilliams (College of Business Administration, University of Illinois at Chicago, 601 South Morgan Street, Chicago, IL 60607-7123, United States); Donald S. Siegel (Department of Economics, Rensselaer Polytechnic Institute, Troy, NY 12180-3590, USA); Patrick M. Wright (School of Industrial and Labor Relations Cornell University, 393 Ives Hall, Ithaca, NY 14853-3901, United States)
    Abstract: We describe a variety of perspectives on corporate social responsibility (CSR), which we use to develop a framework for consideration of the strategic implications of CSR. Based on this framework, we propose an agenda for additional theoretical and empirical research on CSR. We then review the papers in this special issue and relate them to the proposed agenda.
    JEL: L15 L21 M14
    Date: 2005–05
  17. By: Nava Ashraf; Iris Bohnet; Nikita Piankov
    Abstract: This paper examines whether trust is an investment decision under uncertainty, based on the expectation of trustworthiness, and whether trustworthiness is reciprocity, conditional on one’s counterpart’s behavior. In trust experiments in Russia, South Africa and the United States, two thirds of the subjects who trust do not expect trust to pay monetarily. We find substantial heterogeneity in motivation: Expectations of return account for most of women’s trust, and reciprocity for most of Americans’ trustworthiness. Men’s trust and Russians’ and South Africans’ trustworthiness are significantly related to unconditional kindness as measured by subjects’ behavior in dictator games, us ing a within-subject design.
    Keywords: Trust; kindness; reciprocity; gender; cross-cultural experiments.
    JEL: C72 C91
    Date: 2004–05
  18. By: Blandine ZIMMER
    Abstract: Cet article s'interroge sur l'applicabilité d'un système de négociations salariales coordonnées dans l'Union Economique et Monétaire (UEM). Nous évoquons, dans un premier temps, les gains en termes d'emploi, que pourrait générer une telle démarche. Nous montrons ensuite que si les résolutions issues de cette coordination ne sont pas assorties de mesures contraignantes interdissant toute déviation ultérieure, alors leur mise en pratique reste illusoire. La question qui se pose est donc de savoir comment amener les syndicats de l'union à tenir leurs engagements collectifs et garantir ainsi l'application effective de l'accord de coordination salariale. L'idée proposée dans cet article est de faire intervenir la Banque Centrale Européenne (BCE). Plus précisé- ment, nous supposons que la BCE "dédommage" l'effort de discipline salariale des syndicats au moyen d'un système de récompense monétaire.
    Keywords: emploi ; UEM; coordination syndicale.
    JEL: E24 E42 J51
    Date: 2005
  19. By: Irene Valsecchi (Università degli Studi di Milano-Bicocca)
    Abstract: The paper is concerned with instructions as a way of setting premises for subsequent decisions in models of teams à la Marschak-Radner, under information diversification. The paper suggests that instructions can bridge people’s differences in knowledge: they do not require mutual understanding between the sender and the receiver as other forms of communication do. In particular, the knowledge of both the team payoff function and the team organisation can be ordered according to hierarchical ranks. First, the paper shows the equivalence between commands and communication in Marschak and Radner (1972). Second, it derives the requirements in terms of knowledge of the members that follow from given structures of task assignment, information diversification and message flows. Hierarchical ranks are shown to correspond to different degrees of intelligibility of the members with respect to the team operations.
    Keywords: Instructions, Hierarchy, Knowledge, Decentralisation
    JEL: D23 L23 M11
    Date: 2005–05
  20. By: Justin Y. Lin (China Center for Economic Research); Yingyi Tsai (China Center for Economic Research); Ching-Tang Wu (China Center for Economic Research)
    Abstract: This paper provides an explanation for outsourcing based on uncertainty. We study an optimal capital investment model both with and without the possibility to outsource under uncertainty. We show, in the presence of uncertainty, that outsourcing is Pareto-improving and that a brand-producing monopolistic reduces its fixed-asset investment if outsourcing is possible. We also show that the cost of undertaking outsourcing can have a significant impact on the monopolist's choices of optimal capital investment and outsourcing quantity.
    Keywords: Outsourcing, Investment, Uncertainty
    JEL: D24 D40 D81 E22 L23
    Date: 2003–11
  21. By: Frédéric CREPLET; TBlandine LANOUX
    Abstract: Les PME forment une catégorie d’entreprises synonymes des spécificités et de diversité. Après avoir adopté une méthodologie d’étude de ces entreprises, nous postulons que celles-ci peuvent utiliser des systèmes de gestion de la qualité de type ISO 9000 principalement comme guide. Dans cette perspective, nous avons émis l'hypothèse que l'adoption de tels systèmes jouait le rôle de catalyseur dans une stratégie de développement, ou plus généralement de transformation des PME. En complément, nous montrons que la PME doit détenir à sa tête un acteur bicéphale guidé par une vision entrepreneuriale, ayant aussi bien les caractéristiques du créateur, du coordonateur, que celle du facilitateur d’opportunités. Celui-ci est – selon les cas – unique ou multiple et possède comme principal objectif de faire évoluer son organisation en veillant à conserver une cohérence interne et une pertinence, vis-à-vis de l’environnement qui l’entoure. Notre démarche de recherche nous a conduit à utiliser d’une part plusieurs écrits théoriques en matière de PME, de systèmes qualité et plus généralement, sur des aspects d’ordre cognitif. D’autre part, forts des éléments avancés, nous avons confronté notre démonstration et ses premiers résultats à la réalité d’une entreprise : Newflooring. Cette entreprise, véritable PME internationale, nous offrait un terrain empirique a priori robuste au regard de la teneur de nos développements. Nous avons ainsi été amenés à rencontrer plusieurs des dirigeants de l’entreprise dans le cadre d’interview semi-directifs ainsi que certains cadres. Par ailleurs, nous avons eu accès à de nombreux documents provenant du système qualité. Le rapprochement de notre corpus théorique à une étude empirique nous a conduit à préciser les termes de la croissance de cette entreprise en faisant appel à plusieurs modèles théoriques. Il en ressort que ces derniers ne répondaient pas véritablement à la problématique de Newflooring. C’est donc dans cette esprit que nous avons introduit la dialogique de l’entrepreneur / manager et dégager plusieurs mécanismes cognitifs étant en rapport avec la réalité de cette entreprise. Notre travail de recherche montre donc le rôle joué par des systèmes qualité de type ISO 9000 dans le cadre du développement d’une PME. Il introduit également un acteur résolument « dual » : l’entrepreneur / manager, véritable agent de croissance combinant à la fois des compétences entrepreneuriales dans la construction d’une vision, que des compétences managériales ayant trait à l’organisation de l’entreprise. Les résultats de la confrontation empirique menée rejoignent nos propositions théoriques et présupposent d’autres phénomènes liés à la croissance des PME. Ces résultats doivent toutefois être nuancés dans la mesure où ils proviennent d’une seule investigation. Une démarche plus large devra être initiée pour affiner le corpus proposé ainsi que les premières conclusions affichées.
    Keywords: Création de connaissance – Vision entrepreneuriale – ISO 9000 – Management de la connaissance - PME
    JEL: L20 L21 L23 M11 M12 M13 M14
    Date: 2004
  22. By: Frédéric CREPLET
    Abstract: Il s’agit dans cette contribution de mettre en perspective les implications de l’économie de la connaissance sur la firme tout en exposant quels sont les outils TIC que cette dernière met en œuvre en réponse. Il est fait appel dans cette recherche aussi bien aux écrits traitant des concepts d’information et de connaissance que de ceux introduisant la notion de communautés cognitives dans la firme. Les principaux outils TIC « Intranet » sont catégorisés au moyen d’une typologie. Leurs spécificités sont décrites avec pour objectif de démontrer quelle est leur contribution à l’émergence d’une connaissance organisationnelle interne à l’entreprise.
    Date: 2004

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