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Background: Analyses of the European Surveillance System on Contact Allergies (ESSCA) database have focused primarily on the prevalence of contact allergies to the European baseline series, both overall and in subgroups of patients. However, affected body sites have hitherto not been addressed. Objective: To determine the prevalence of contact allergies for distinct body sites in patients with allergic contact dermatitis (ACD). Methods: Analysis of data collected by the ESSCA (www.essca-dc.org) in consecutively patch tested patients, from 2009 to 2014, in eight European countries was performed. Cases were selected on the basis of the presence of minimally one positive patch test reaction to the baseline series, and a final diagnosis of ACD attributed to only one body site. Results: Six thousand two hundred and fifty-five cases were analysed. The head and hand were the most common single sites that ACD was attributed to. Differences between countries were seen for several body sites. Nickel, fragrance mix I, cobalt and methylchloroisothiazolinone/-methylisothiazolinone were the most frequent allergens reported for various body sites. Conclusions: Distinct allergen patterns per body site were observed. However, contact allergies were probably not always relevant for the dermatitis that patients presented with. The possibility of linking positive patch test reactions to relevance, along with affected body sites, should be a useful addition to patch test documentation systems.

Background: Occupational contact dermatitis is one of the most common occupational diseases in Europe. In order to develop efficient preventive measures, detailed and up-to-date data on the incidence, main causes and professions at risk of occupational contact dermatitis are needed. Objectives: To describe the pattern of patch test reactivity to allergens in the European baseline series in patients with occupational dermatitis in different occupations. Methods: We analyzed data collected by the European Surveillance System on Contact Allergy network (ESSCA) from 2002 to 2010, from 11 European countries. Results: Allergens in the European Baseline Series associated with an at least doubled risk of occupational dermatitis include thiuram rubber chemicals, epoxy resin, and the antimicrobial chloromethylisothiazolinone/methylisothiazolinone. Conclusions: When planning and implementing measures aiming to prevent occupational contact dermatitis, the focus should be on high-risk occupational groups and particularly the most common occupational allergies. Patch testing solely with the baseline series is not adequate in diagnostic work-up of occupational contact dermatitis. Special series and, as appropriate, materials from the workplace must be included in the test programme.

Employee stock ownership (ESO) is often associated with reductions in agency costs because it increases employee satisfaction and attachment to their company and aligns the interests of employees with those of their firm. Another stream of research argues that ESO may have the opposite effect on agency costs because it serves as a management entrenchment tool and leads to divergence between stakeholders. This paper examines the relationship between ESO and agency costs in France, which is a leading European country for ESO. Using a panel database of 125 firms over the period 2002–2016, we find an inverted U-shaped relationship between ESO and agency costs. That evidence highlights that low levels of ESO increase agency costs, which is consistent with managerial entrenchment mechanisms. The findings also suggest that beyond a certain point, ESO reduces agency problems because it links employee wealth to their firm’s success. L'actionnariat salarié (AS) est souvent associé à une diminution des coûts d'agence car il augmente la satisfaction des salariés et leur attachement à leur entreprise et aligne leurs intérêts avec ceux de l'entreprise. Un autre courant de recherche suggère que l'AS peut avoir l'effet inverse sur les coûts d'agence en servant l’enracinement des dirigeants. Il entraînerait une divergence entre les parties prenantes et diminuerait la valeur actionnariale. Cet article étudie la relation entre AS et coûts d'agence en France, un pays leader européen en matière d’AS. Nos analyses sur des données issues de 125 entreprises françaises cotées sur la période 2002-2016 mettent en évidence une relation en U inversé entre l'AS et les coûts d'agence. Nos résultats indiquent que des niveaux faibles ou élevés d’AS sont associés à des coûts d'agence élevés en raison de l’enracinement des dirigeants. Les résultats suggèrent aussi qu’au-delà d’un certain seuil, l'AS réduit les problèmes d'agence en liant le patrimoine des salariés à la performance de leur entreprise.

International audience; The objective of this article is to examine the relevant dimensions of distance for foreign market entry mode choice. Based on a sample of 203 interfirm linkages formed by French multinationals with partners across the world, we analyze the impact of four dimensions of distance on the choice between cooperative alliances and mergers-acquisitions. The findings indicate that administrative and economic distance have a significant influence on market entry mode choice, whereas the impact of cultural and geographic distance is not significant. They further highlight the important role of the host country's government effectiveness for market entry mode decisions.

International audience

CNRS 2, FNEGE 1, HCERES A; International audience; Pharmaceutical industry marketers are confronted with specific ethical issues linked to the tension between the economic interest being pursued and the health mission of this sector. Indeed this dual mission could be problematic for them when the two objectives contradict each other. We use the concept of moral dissonance to examine how marketers in the pharmaceutical industry perceive the profit/health tension inherent in their sector and how they deal with it. Based on narratives of 18 marketers working in the pharmaceutical sector, our qualitative study identifies ethical conflicts of varying intensity that generate differing degrees of moral dissonance among marketers. To cope with this moral dissonance, they use the following strategies: (1) minimize the sensitivity of their activity; (2) invoke the benefits to patients; and (3) avoid behaviors that conflict with their values.

International audience

The banking sector plays an important role in the UK economy as a whole, and investors are increasingly concerned about the ability of UK-based banks to withstand the consequences of major uncertainty such as the Brexit. This paper investigates the UK financial system resilience using networks of relationships related to the Credit Default Swap market. We propose a detailed descriptive analysis of the topology of the networks, and characterize the nature of relationships between financial institutions. We compare our results with theoretical network configurations (small-worlds, preferential attachments, etc.) to reveal the connection dynamics of the networks we identify. We then develop a panel analysis including variables of centrality and influence of banks in their networks. We identify prominent banks and groups of banks that could disrupt the system. Our results help identify priority areas of action by regulators and risk managers.

Warm or cold, wet or dry, weather impacts almost every industry as 70% of businesses are exposed to unexpected variations that influence demand for goods and services. The financial losses caused by adverse weather that did not seem material enough to have an impact or to require being managed a decade ago, may now do so as the frequency and severity of abnormal weather have dramatically increased. A surge in investigating the contribution of weather to financial distress is also prompted by more reliable weather data, and the development of new risk mitigation tools. Drawing upon the UK's retail sectors for empirical evidence, this paper provides a methodology to determine the contribution of weather to sales and to structure financial products to reduce the consequences of adverse weather on expected cash-flows. Our results open new research opportunities for weather to be considered as an additional cause of business failure.

Franchisees are often small business owners whose sales, profitability, and financial equilibrium in the first years of operation are increasingly being impacted by weather variability. The literature has analysed the effectiveness of various guarantees offered by franchisors in franchise agreements, but the case of hedging the local weather risk to which each franchisee is exposed has never been addressed. Using Design Science, we show that franchisors operating in one of the activities which are among the 70% of activity sectors exposed to weather risks, can support the setup of franchises, measure their weather risk and incorporate financial protections against the consequences of adverse weather in the franchise agreement. By doing this they can reduce the risk of financial distress, provide an innovative service, and reinforce the quality of the relationship with their franchisees.

This paper proposes a new approach for analyzing the dynamic relationships between carbon dioxide (CO2) emissions, energy use, and income for the Middle East and North African (MENA) region. Our study implements a class of regime-switching models, namely a nonlinear panel smooth transition regression (PSTR) framework. Two kinds of estimates for carbon emissions are provided. On the one hand, we measure the impact of energy consumption on CO2 concerning the level of income per capita, as countries with a similar energy usage level would have different levels of energy intensity. On the other hand, we estimate the impact of output growth on emissions concerning energy usage variation, as a higher economic growth does not necessarily mean energy-intensive activities. Our empirical findings support these intuitions as they indicate that pollutant emissions respond nonlinearly to energy consumption and GDP growth. We find an inverted U-shaped pattern for the impact of energy on CO2, in the sense that environmental degradation is declining beyond a given income threshold, which is estimated endogenously within the PSTR model. Also, our results underscore that GDP growth significantly impacts carbon emissions only for higher energy consumption growth.

International audience; This research examines for the first time the relationship between Big data and Smart data among French automotive distributors. Many low-tech firms engage in these data policies to improve their decisions and performance through the predictive capacities of their data. A discussion emerges in the literature according to which an effective policy lies in the conversion of a mass of raw data into so-called intelligent data. In order to understand better this digital transition, we question the transformation of data policies practiced in low-tech firms through the founding model of 3Vs (Volume, Variety and Velocity of data). First of all, this empirical study of 112 French automotive distributors develops the existing literature by 2 proposing an original and detailed typology of the data policies practiced (Low data, Big data and Smart data). Secondly, after specifying the elements of the differences between the quantitative nature of Big data and the qualitative nature of Smart data, our results reveal and analyse for the first time the existence of their synergistic relationship. Companies transform their Big data approach into Smart data when they move from massive exploitation to intelligent exploitation of their data. The phenomenon is part of a high-end loop data exploitation. Initially, the exploitation of intelligent data can only be done by extracting a sample from a large raw data pool previously made by a Big data policy. Secondly, the organization's raw data pool is in turn enriched by the repayment of contributions made by the Smart data approach. Thus, this study develops three important ways. First off, we identify, detail and compare the current data policies of a traditional industry. Secondly, we reveal and explain the evolution of digital practices within organizations that now combine both quantitative and qualitative data exploitation. Finally, our results guide decision-makers towards the synergistic and the legitimate association of different forms of data management for better performance.; Nombreuses sont les firmes qui désormais s’engagent dans des politiques Big data ou Smart data afin d’améliorer leurs décisions. Malgré leur popularité, peu de connaissances sont à ce jour proposées concernant la nature de ces deux démarches que l’on oppose souvent en raison de leurs différents degrés de finesse d’exploitation des données. Notre étude quantitative auprès de 112 PME de la distribution automobile décrit puis explique leur différenciation et leur complémentarité vertueuse.

Advertisings usually display thin bodies creating and endorsing the beauty standards of the society. Large body size models are sometimes featured in advertisings to show a more inclusive marketing communication. Previous researches have investigated consumer responses to more diverse body sizes in Beauty and Fashion industries ads. This paper aims at investigating advertisement effectiveness, for both print and digital advertisings, through consumer responses (Memorization, Aad, Ab, and Purchase Intention) to body sizes in food advertisements. We used a mixed design study with a between group factor (Media type: Print or Digital) and a within-subject variable (body shape: large, thin or no model), via a folder test procedure. Participants were exposed to a fictive magazine to measure their responses toward advertisements featuring large size model versus thin one. The findings reveal that “large model” advertisements are less effective compared to “thin model” advertisements for Memorization, Attitude towards Ad, and Purchasing Intention. However, participants expressed the same Attitude towards the Brand for both conditions. Moreover, hardly any significant influence of the means of exposure to ads (printed or digital) was found. Despite the latest consumer pertinacity trends on companies to adopt diversity for social reasons; consumers, of the food industry, are still better influenced by thin models when it comes to Memorization, Aad, and PI. Furthermore, this study offers practical and societal implications not only for the experimental design, but also for practitioners to comprehend and utilize the match‐up hypothesis of body size condition needed for their marketing and advertising objectives.

International audience; Financial institutions, investors, mining companies and related firms need an effective accurate forecasting model to examine gold price fluctuations in order to make correct decisions. This paper proposes an innovative approach to accurately forecast gold price movements and to interpret predictions. First, it compares six machine learning models. These models include two very recent methods: the eXtreme Gradient Boosting (XGBoost) and CatBoost. The empirical findings indicate the superiority of XGBoost over other advanced machine learning models. Second, it proposes Shapley additive explanations (SHAP) in order to help policy makers to interpret the predictions of complex machine learning models and to examine the importance of various features that affect gold prices. Our results illustrate that the utilization of XGBoost along with SHAP approach could provide a significant boost in increasing the gold price forecasting performance.

International audience; Many SMEs still seem reluctant to accept the management of large datasets, which still appear to be too complex for them. However, our study reveals that the majority of small French car dealers are developing Big data and Smart data policies to improve the quality of their offers, the dynamism of their sales and their access to new opportunities. However, not every policy has the same effects on the development of their business. Whereas Big data improves all the components of SME development in a global, short-term and operational way, Smart data presents itself as a more targeted, prospective and strategic approach.

Purpose Buoyed by the desire to reduce carbon dioxide emissions and develop sustainable urban transportation, the dockless bike-sharing industry boomed in China during 2017–2018. To the surprise of the stakeholders, this industry dramatically ebbed in 2019. The dockless bike-sharing system deviated from a problem-solver to a troublemaker in a very short period. The oversupplied and excessively discarded shared bikes caused a big waste of resources and serious pollution to the environment. In this paper, the decision-making of the key players of the industry, i.e. business operators, investors, customers and government, is analyzed through the lens of the cognitive bias. This paper aims to illuminate the process of how this innovative transport solution turned to a disastrous ending, which caused damage to urban environment and financial loss to investors. Design/methodology/approach In this study, a qualitative analysis based on the rich secondary data sources is conducted. A rich amount of qualitative data including news reports, government policies, consulting reports and companies’ annual reports etc. were collected. Findings The study shows, in the product introduction period, the government, business operators, investors and consumers fell into the cognitive bias. They over focused on the positive side such as high-tech, eco-friendly, convenient image of the dockless bike-sharing solution. Thereby, the key stakeholders made irrational decisions in product adoption and management. This study moves toward increasing key stakeholders’ awareness of the imperative to reduce these biases when promoting eco-innovations. This study also recommends a prudent attitude with a rational and comprehensive thinking style in dealing with eco-innovation and the emerging sharing economy. Originality/value To solve the cognitive biases, this study recommends that people use rational decision-making style to examine and adopt the dockless bike-sharing solutions. Practical recommendations to tackle the existing recycling crisis of the dockless bike-sharing industry are also discussed.

This paper studies the relationship between CEO elite education and firm hedging decisions. It uses the particular specificities of the French post-secondary educational institutions to examine the effect of CEO educational background on the use of foreign currency derivatives. The results show a positive and significant relationship between education quality and derivatives use. Neither the level nor the type of education has any significant effect. The results also show that the use of derivatives enhances firm performance only when CEOs are from elite institutions. These results are robust to a battery of tests that involve alternative estimation techniques, the use of different subsamples, additional control variables, and control for endogeneity and selection bias.

International audience; This study examines the interdependence of relational strategies and data management policies of SMEs during product innovation. The type of data management developed by a small firm to support its innovation efforts requires it to engage in competitive, vertical cooperative or coopetitive relationships. An empirical study of 109 leaders of French high-tech SMEs provides a descriptive and explanatory analysis of this question. This empirical study combines three theoretical dimensions: the characteristics of a Big Data policy, of an innovation product and of a relational strategy. We enrich the existing knowledge concerning the exploitation of data by SMEs by presenting a typology of their data strategies. We also find that Big data and Smart data policies are deployed by SMEs to support product innovation. Finally, we show that SMEs implement data management individually to support radical product innovation but will collaborate to support incremental product innovation. The nature of the data innovation guides the relational context of the SME. This study deepens the interdependence of data management and relational strategies among SMEs.

A base-stock inventory system for perishables with Markovian demand and general lead-time and lifetime distributions is investigated. Using a queueing network model, we derive explicit expressions of the stationary distribution of the inventory state together with the total expected cost in a base-stock system with lost-sales. Next, we show some monotonicity properties of the cost function and propose a procedure to derive the optimal base-stock. Extensions to the backorders case and to a dual-sourcing system with multiple warehouses are also provided. Our results generalize existing ones from the literature where the lifetime and the lead-time follow either deterministic or exponential distributions. Finally, we investigate the effect of the lifetime and lead-time variability on the system cost and the optimal base-stock level. In particular, we show the substantial errors made when assuming deterministic or exponential distributions for the lifetime. This further shows the need to have results beyond exponential or deterministic assumptions.

International audience; This study examines the interdependence of relational strategies and data management policies of SMEs during product innovation. The type of data management developed by a small firm to support its innovation efforts requires it to engage in competitive, vertical cooperative or coopetitive relationships. An empirical study of 109 leaders of French high-tech SMEs provides a descriptive and explanatory analysis of this question. This empirical study combines three theoretical dimensions: the characteristics of a Big Data policy, of an innovation product and of a relational strategy. We enrich the existing knowledge concerning the exploitation of data by SMEs by presenting a typology of their data strategies. We also find that Big data and Smart data policies are deployed by SMEs to support product innovation. Finally, we show that SMEs implement data management individually to support radical product innovation but will collaborate to support incremental product innovation. The nature of the data innovation guides the relational context of the SME. This study deepens the interdependence of data management and relational strategies among SMEs.

This paper revisits the exchange rate pass-through (ERPT) for a set of transition economies, namely for 10 new EU Member States (NMS), over the period 1996–2015. As the transition process has entailed a deep transformation in their economies and institutions, the extent of pass-through is expected to be regime-dependent on this changing macroeconomic environment. We propose to implement a nonlinear panel smooth transition regression (PSTR) approach, where transitional factors related to EU accession are captured properly from the data. Our empirical results suggest that the inflation regime is the main macroeconomic driver of the extent of ERPT. When inflation levels exceed the threshold of 4.56 % , i.e., within a high-inflation environment, the degree of pass-through is higher and reaches a full ERPT. However, with the shift towards a stable and low-inflation regime, i.e., when inflation levels are below a threshold of 4.56 % , the extent of pass-through significantly declines in the NMS group. Our findings shed further light on how the credibility gained through the commitment to euro area membership is beneficial and would ensure better control of inflation.

International audience; This paper provides an analysis of crude oil, diesel, and gasoline prices for the period from November 1, 2019 to December 31, 2020. We apply Log Periodic Power-Law Singularity (LPPLS) and Discrete Scale LPPLS bubble indicators to explore the dynamic bubbles of oil prices and predict their crash times. The results indicate that West Texas Light crude oil and North Sea Brent crude oil experienced a statistically significant negative financial bubble during the COVID-19 outbreak. In addition, gasoline and diesel prices are mainly driven by fundamentals. Our findings are expected to be useful to oil market investors, policymakers, and energy experts.

International audience; By volume, finance professionals make most financial decisions. However, the experimental literature on risk preferences generally uses students in the lab. If these two groups present systematic differences, the transposition of the experimental results to the real world might be compromised. We investigated whether the risk preferences of wealth advisers differ from those of students in the lab and students in an online experiment. The risk aversion and probability weighting of these groups do not differ significantly. However, male wealth advisers are more loss averse than both samples of male students before considering age. After controlling for age, we find that female wealth advisers are less loss averse than female students. Therefore, we advise some prudence when generalizing experimental results obtained from students to finance professionals for situations in which losses are important. The direct transposition of experimental results from students to finance professionals does not call for such caution when dealing with decisions in the gain domain.

Consumers can use alternative methods to interact with or access a brand through their mobile devices. They can type a response using a touchscreen keyboard (touch interaction) or use voice response while holding a mobile device (combined voice and touch interaction). In this study, we look at the impact of these different types of interaction on personal engagement and the effect on brand trust as relevant concerns to managers in the digital, mediated context. Using a framework based on sensory marketing and Dual Coding Theory, we conducted 2 one-way between-subjects experiments with a two-level interface interaction considering a hedonic product (Experiment 1) and utilitarian product (Experiment 2). Findings confirm a three-way interaction such that the impact of privacy concern on the relationship between personal engagement and trust depends on the nature of the platform interaction; touch vs. combined touch and voice. We also find that adding voice to the platform interface has the counterintuitive effect of reducing engagement with that platform. All in all, our results provide novel insights into the role of touch and voice in the online context when it comes to consumers' decision-making.

Urban composting is currently booming, especially thanks to the new outlets that urban agriculture offers for organic materials. Faced with the challenges of the sustainable city of tomorrow, this practice, whether individual or collective, engages citizens and offers a decentralized response with positive impacts for the environment and for neighborhood social relations. Its success involves making material available in a common space, a communication system and support from residents’ initiatives. Technical, ecological, agricultural, economic and social aspects must be considered to ensure its success, while scientific knowledge is essential to inform, overcome certain obstacles and ensure the quality of this urban form of production.

The aim of this paper is to test empirically the conditional liquidity-adjusted capital asset pricing model (L-CAPM) developed by Acharya and Pedersen (2005). Accordingly, we propose to estimate the L-CAPM using unobserved components methodology, which allows us to take into account the main stylized facts characterizing liquidity. Based on a sample of firms listed on the NASDAQ, our empirical analysis reveals several findings. Firstly, we show that liquidity is time-varying and exhibits strong seasonality. Secondly, we highlight the impact of the liquidity level premium on asset prices. Thirdly, we show that the most important liquidity risk is related to the covariance between portfolio illiquidity and market returns. Fourthly, we observe a negative relationship between portfolio returns and market illiquidity. Fifthly, we find that liquidity risk and illiquidity level are not always positively correlated.

Dans un contexte d’innovation impactant durablement un secteur d’activite, la prospective des metiers represente une demarche a considerer pour anticiper au mieux les evolutions possibles en termes d’emplois et de competences. Lorsque le secteur impacte est tres ancre au sein d’un territoire, une telle demarche doit mobiliser les parties prenantes qui permettront de piloter les actions en lien avec les evolutions. Cet article se propose d’explorer le role envisage du manager public au cœur d’une demarche de prospective des metiers au sein d’un territoire, au travers d’une etude menee en Region Centre-Val de Loire dans le cadre d’un projet d’innovation therapeutique « Ambition Recherche et Developpement 2020 – Biomedicaments ». Nos resultats conduisent a preciser le role de traduction qu’est susceptible d’endosser le manager public (Desmarais et Abord de Châtillon, 2010) pour piloter, coordonner les actions de l’ensemble des parties prenantes au sein de son territoire, dans cette demarche de GRH territoriale.

Online configuration tool kits present attractive opportunities for creating customized offers. The purpose of this study is to analyze the relevance of both the TAM (Technology Acceptance Model) and the experiential learning theory to understand how configuration contributes to provide value for end users. The qualitative survey shows that the TAM needs to be adapted to the case of configurators by measuring both perceived usefulness (PU) of the configured product and PU and ease of use of the configurator itself. The study shows the relevance of experiential learning theory as an antecedent of the TAM. A model summarizing our observations is proposed and discussed.

This paper investigates the presence of asymmetric volatility dynamics in Bitcoin, Ethereum, Ripple, and Litecoin. Asymmetric effects between good and bad news are traditionally modeled using threshold GARCH models that allow only for two possible variance regimes. We experiment a slightly flexible specification for the conditional variance by using a Smooth Transition GARCH (ST-GARCH) model, where a continuum of intermediate states is allowed between the two extreme volatility regimes. We feature an inverted asymmetric reaction for the majority of cryptocurrencies. The presence of positive return-volatility relationship, which is different from other traditional assets, supports the safe-haven hypothesis in cryptocurrencies.

The continuous review base-stock policy under the lost sales assumption has been extensively studied in the inventory literature. However, most of the research that deals with the optimal policy parameter determination under compound Poisson demand focuses on the stuttering Poisson case. In this paper, we extend earlier research by providing a method that calculates the best cost-driven base-stock policy under more general compound Poisson demand processes and for both the complete and the partial rejection case. This is done by developing a simple recursive formula that computes the steady-state probabilities of the number of outstanding orders for general demand and lead-time distributions. Based on this, we are able to obtain the optimal base-stock level under the complete rejection case and an approximate base-stock level under the partial rejection policy. Through a numerical investigation, we show that our approach outperforms existing methods with regard to computational requirements.

International audience

International audience; Le développement du numérique s'est accompagné, dans les industries culturelles, comme dans tous les autres secteurs, de transformations profondes. Le plus souvent, cette révolution est présentée comme celle des modes de consommation (dé-linéarisation et dématérialisation), des formes de monétisation (gratuité, abonnement) et des chaînes de valeur. Mais il s'agit aussi d'une révolution de l'organisation du secteur où les vecteurs des transformations ne se réduisent pas aux nouvelles plateformes de l'internet mais sont aussi des nouveaux intermédiaires techniques qui s'insèrent à tous les niveaux de la chaîne de valeur grâce à des investissements, des équipements et des compétences inédites dans le monde du cinéma qui s'opèrent aussi bien au niveau de la production, de la post-production ou de la distribution. L'article s'appuie sur plusieurs cas emblématiques au plan mondial (Weta Digital, DreamWorks, Ymagis, Bollywood et UFO Moviez) qui montrent comment les nouvelles formes d'intervention portées par la technologie remettent concrètement en cause les modes de fonctionnement profonds des filières culturelles tout autant que leurs contours.

International audience; Small and medium-sized enterprises (SMEs) play an important role in the economy, but their specific status brings several difficulties that large firms do not have to face. Among others, the literature underlines a market gap in SME consultancy services, with a weak demand from SME managers. The aim of this article is to understand actual SMEs' "practices and perceptions" of the consultancy market and thus to provide some recommendations about how external consultants could adapt their services to foster, meet, and maintain the demand of SMEs. The research focuses on actors located in the department of Drôme, France. Descriptive statistics from a questionnaire and a cluster analysis highlight the role played by a long-lasting relationship and a specialisation in the sector of activity of the SME. Trust, experience and expertise seem to be the keywords. Consultants have to be able to provide unique and creative solutions that are strictly linked to the consultants' commitment of gaining SMEs' trust and building strong ties and networking in order to overcome the distrust and autonomy propensity of SMEs.

International audience; The business model (BM) concept has become a major area of interest in Management literature, leading to the publication of a host of literature reviews and essays aimed at synthesizing and interpreting the development of BM research. Yet these general analyses have largely neglected the specificities of the two main disciplines in which the BM concept is anchored: Strategic Management and Innovation & Entrepreneurship. Accordingly, this article seeks to explore the intellectual roots and current trends of these disciplines to refine our understanding of the development of the BM literature. We draw on a mixed bibliometric analysis based on two samples of respectively 208 and 345 articles published in Strategic Management and Innovation & Entrepreneurship. This analysis enables us to compare the theoretical pillars (co-citation analysis) and research fronts (bibliographic coupling analysis) of BM research in these two foundational disciplines. Our results suggest a certain homogeneity within both the theoretical pillars of the disciplines and the incremental diversification of their research fronts. In light of these findings, we consider the future of the BM literature and accordingly propose a twofold developmental strategy for it.

International audience; There are strong expectations towards research spin-offs, but insufficient empirical evidence still exists on the determinants of growth of such companies. The aim of this paper is to contribute to the debate on growth -or non-growth- of research spin-offs through a focus on Italy. A resource-based perspective is adopted for identifying the crucial determinants of competitive advantage of these companies, and an OLS regression analysis is performed to assess the impact of initial resources on growth in revenues and employees. Our analysis highlights unexpected results about the involvement of industrial partners, venture capitalists, size of IPRs’ portfolio at founding and previous experience of the promoting partners.; Il existe de fortes attentes en ce qui concerne les entreprises spin-off de la recherche, mais il existe encore peu d’évidence empirique sur les déterminants de la croissance de ces entreprises. L'objectif de cet article est de contribuer au débat sur la croissance -ou la non-croissance- des entreprises spin-off de la recherche en mettant l'accent sur l'Italie. Une perspective basée sur les ressources est adoptée pour identifier les déterminants cruciaux de l'avantage concurrentiel de ces entreprises, et une analyse de régression OLS est effectuée pour évaluer l'impact des ressources initiales sur la croissance des revenus et des employés. Notre analyse met en évidence des résultats inattendus concernant la participation de partenaires industriels, de capital-risqueurs, la taille du portefeuille de DPI à la fondation et l'expérience antérieure des partenaires de promotion.

International audience; M@n@gement has become one of the most influential French academic journals in the field of Strategy & Organization. In this article, we have drawn on a quantitative methodology to understand how this unique journal has been built over its 20 years of existence. In doing so, we employed statistical and bibliometric methods to analyze and characterize the trends and research fronts corresponding to the journal’s three lead editorial teams. By drawing on our results, we point to two key challenges that M@n@gement may face in the years to come: how to foster a more consistent thematic identity and strengthen its international authorship.

Purpose The purpose of this paper is to explore how resilience can support entrepreneurs in uncertain environments. The study’s objective is to show how different dimensions of resilience (emotional/cognitive) are dynamically connected to different logics of actions (causation/effectuation) allowing the development of a successful entrepreneurial project. Design/methodology/approach The study is based on a qualitative analysis of a blog written by an entrepreneur during the first 17 months of a search, negotiation, and financing process for a company takeover. Findings The results highlight that in high uncertainty, strong entrepreneurial resilience and shift of logics of action can contribute to the success of a business takeover. This study identifies forms of resilience during the business takeover process that helped the entrepreneur overcome adversity and succeed. Moreover, these forms of resilience seem to be related to effectual and causal logics. Practical implications This study could help future entrepreneurs succeed in the creation or takeover of an organization by improving knowledge of the relationship between resilience and logics of actions. Originality/value This study proposes a different approach to the study of entrepreneurial resilience by analyzing it in relation with the logics of action (causation/effectuation). Moreover, the study offers a modern methodological approach by using an internet blog as a data source.

International audience

Le succes enviable des GAFA (Google, Apple, Facebook, Amazon) a mis en lumiere le role majeur joue par la construction de modeles d'affaires innovants dans l’explication de la performance. Pourtant, apres l'un des ralentissements les plus importants de l'histoire de notre economie mondiale, les entrepreneurs craignent souvent que leur(s) modele(s) d'affaires n'arrivent pas a creer et/ou a capter suffisamment de valeur pour faire face a une situation d’intense competition. Il en resulte une de...

Although interest in the Catching up strategy of developing countries has increased during recent years, this line of research is focused on national analysis from the beginning, developed nations as benchmark for fruitful lagging-behind countries, which need to be reviewed. Accordingly, we utilize a literature analysis method to distinguish the difference among developing and developed countries of catching up process. Based on our analysis, we state that the lagging-behind countries have the late-coming advantages. In the short term, the developing countries are able to achieve technical imitation by catching up with the technology. However, in the long run, imitation innovation is always based on the main concepts of developed countries, and does not really integrate the actual situation, social resources, and economic situation of developing countries. Consequently, it is essential for developing countries to find an innovating way to precede transformation.

Le business model (BM) peut être considéré comme une narration que mobilisent les entrepreneurs pour donner vie à leur projet. Dans un contexte d’innovation, cette narration peut entrer en conflit avec le BM traditionnel de l’industrie. A partir d’une étude de cas longitudinale, nous analysons la manière dont une start-up modifie de manière successive la narration de son BM face aux réactions des acteurs établis. Nous mettons ainsi en évidence les rôles que peuvent jouer les narrations dans l’émergence d’un BM innovant : un rôle d’information qui permet de révéler les tensions concurrentielles ; un rôle de production à travers les réactions concurrentielles qu’elles peuvent susciter ; et un rôle d’intégration qui traduit l’apprentissage expérientiel des entrepreneurs. Business models (BM) can be considered as narratives used by entrepreneurs to bring their project to life. Within an innovation context, narratives may challenge the traditional BM of an industry. Drawing on a longitudinal case study, we analyzed the change in BM narratives processed by a start-up while facing incumbents’ reactions. We provide insights on the role of narratives to disclose competitive tensions; to influence the course of BM competition; and to enhance the experiential learning of entrepreneurs.

International audience; We consider a perishable inventory system that operates under stochastic demand, constant lifetime and a constant lead time. The system employs a continuous review ðr; Q Þ inventory control policy where unfilled demands are lost. We investigate the properties of the cost function and present an approximation procedure to find the parameters r and Q that minimize the total cost. We then conduct a numerical analysis to examine the performance of the proposed model and study the sensitivity to changes in the system parameters. We demonstrate the suitability of the proposed approximations compared to optimal ðr; Q Þ parameters obtained by simulation and show that our proposal outperforms another approximation procedure from the literature, in particular for increasing ordering cost and demand variability. The proposed model contributes to the literature by providing a simple and efficient algorithm to compute the best (r, Q) parameters that minimize the total cost. Besides, it can be used in automated store ordering systems. &