Ownership structure,corporate governance and analyst following: A study of French listed firms

This study investigates the effects of some characteristics of the French corporate governance model – deemed to foster entrenchment and facilitate private benefits extraction – on the extent of analyst following. The results show that analysts are more likely to follow firms both with high discrepancy level between ownership and control and those controlled through pyramiding. These findings provide empirical support to the argument that minority shareholders value private information on firms with high expropriation likelihood, asking thence for more analyst services. Additional findings show that analysts are reticent to follow firms managed by controlling family members. This is, in part, explained by these firms’ reliance on private communication channels rather than public disclosure, producing a poor informational environment.     

Conflict displacement and labor market outcomes in post-war Bosnia and Herzegovina

The war in Bosnia and Herzegovina of the early nineties displaced 1.3 million people. This study uses longitudinal data to document the effects of this displacement on labor market outcomes. To account for endogeneity in displacement, I exploit the fact that the level of violence affected the decision to leave and that pre-war economic performance is orthogonal to local violence levels. I find that displaced Bosnians are less likely to be working relative to the people who stayed. Displaced men experience higher unemployment levels, and displaced women are more likely to drop out of the labor force.     

Milieu as a pertinent unit of analysis in project marketing

The purpose of this article is to shift gear from the purely economic to the socioeconomic level in project marketing and consequently to demonstrate that project marketing consists, to a certain extent, in the management of a firm's relationships to a local network of business and non-business actors, named the milieu. This networking action forms the basis of a proactive approach aiming at anticipating bids and at maximizing the firm's chances of success on on-going projects.     

Fruit and vegetable access to EU markets: Dissecting tariffs faced by Mediterranean countries

This paper analyzes the access of Eastern and Southern Mediterranean countries to the EU fruit and vegetables market and provides a measure of the level of preferences from which they benefit. To take into account the complexity of EU protection in the F&V sector, in particular the seasonality of protection and the Entry Price System, we conducted our analysis at a very disaggregated level (eight digits of the nomenclature, monthly data). We showed that, on average, Mediterranean countries do have significant preferences compared to other countries exporting to the EU. However, the magnitude of the preferences differs among countries; Morocco has the highest preference, while Syria and Israel have the lowest. We simulated a multilateral reduction in the MFN tariffs (as planned in the Doha Round) and showed that this would reduce the heterogeneity within the zone by more strongly eroding the preferences of the most advantaged countries. The classification of Entry Price products as sensitive products would either benefit or have no effect on most Mediterranean countries.     

国际酒类展览会2011将如期而至

薄荷胡椒味、浆果杏子味、黑加仑巧克力味等各种口味的葡萄酒一展酒中时尚,多种窖藏多年的极品红酒香飘四溢,酿酒师花式调酒精彩表演凸显浓浓异国情调,当2010年国际酒类展览会的浓醇酒香还在嘴边回味时,新一届的国际酒类展览会(ProWein 2011)将在3月27～29日如期举行。