2007-2008

Thursday October 18, 2007 from 16h to 17h30, (315, bât 17ème, Louvrex)

Gambit Financial Solutions
HEC-ULg spin-off

Session 1 : Linearizing Option Returns for Portfolio and Risk Management (L.Bodson, G.Hübner)
paper
Session 2 : Dynamic Style Analysis with Errors in Variables (L.Bodson, A.Coen, G.Hübner)
paper
Session 3: Diversifying using Hedge Funds: An Utility-Based Approach (D.Capocci, F.Duquenne, G.Hübner)

A drink has been offered to celebrate the first seminar of the 2007-2008 season
and the Spin-Off birth. 

Wednesday October 24, 2007 from 13h to 14h30, (Salle du Conseil, B31, Sart Tilman)

Price discrimination bans for dominant firms

Jan Bouckaert (Universiteit Antwerpen)
Paper

Abstract:
Competition authorities and regulatory agencies sometimes impose pricing restrictions on firms with substantial market power — « dominant » firms. We analyze the welfare effects of a ban on behavior-based price discriminination in a setting where the market displays a competitive and a sheltered segment. A ban on « higher-prices-to-sheltered-consumers » decreases prices in the sheltered segment, relaxes competition in the competitive segment, increases the rival’s profits, and may harm the dominant firm’s profits. Our paper shows that banning « higher-prices-to-sheltered-consumers » increases the dominant firm’s share of the first-period market. A ban on « lower-prices-to-rival’s-customers » decreases prices in the competitive segment, lowers rival’s profits, and augments consumer surplus. In particular, while second-period competition is relaxed by a ban on « lower-prices-to-rival’s-customers », first-period competition intensifies substantially leading to lower prices « on-average » over the two periods. Our findings therefore highlight that a dynamic two-period analysis may lead to opposite conclusions as compared to a static one-period analysis.

Tuesday October 30, 2007 from 12h to 14h00, (Louvrex)

Insider Trading, Regulation, and the Components of the Bid-Ask Spread

Bart Frijns, Nijmegen School of Management (Pays-Bas)
et Alizera Tourani-Rad, Auckland University of Technology (Nouvelle-Zélande).

Paper

Wednesday November 7, 2007 at 13h, (Bat. B31, Seminaire IV)

Uncertain Lifetime, Redistribution and Nonlinear Pricing of Annuities

presented by Marie-Louise Leroux (CORE, Université Catholique de Louvain)

(co-authors: Antoine Bommier (TSE) and Jean Marie Lozachmeur (TSE))Abstract
This paper studies the problem of redistribution between individuals with different survival rates. We use a continuous time model in which there are two types of individuals characterized by different survival probability path. We use a generalized life cycle utility function which can exhibit some risk aversion with respect to the length of life. We thus compare successively utilitarian allocations when individuals are risk neutral or risk averse towards the length of life. This problem is analyzed both with full infomation and asymmetric information.
JEL classification: H55, H23, I31.
Key words: Uncertain Lifetime, Redistribution, Annuities, Nonlinear taxation.

Thursday November 8, 2007 from 13h15 to 15h (Salle du Conseil, B31, Sart Tilman)

The role of organisational commitment in the analysis of resistance to change : mediating or moderator effects?

Professeur Antonio Giangreco, Ph.D.
Senior Assistant Professor in HRM & OB
Academic Director of the Master in International Business Programme
Iéseg School of Management (Lille, France).

presentation

Abstract
High levels of resistance to change (RTC) and low levels of organisational commitment (OC) are often linked to similar actions, expressions of disorientation and organisational dissent. This study aims to examine in greater depth the relationship between RTC and OC in order to verify whether OC acts as a mediating variable (Research Model 1) or as a moderator variable (Research Model 2). To test this in the field, an empirical study was carried out among over three hundred middle managers in a service provider company undergoing a radical process of change. The hypotheses tested are placed within a research model wherein the extent to which middle managers perceive a gain or a loss as a consequence of the change process, and the extent to which they feel involved are the antecedents of RTC. From the results of the research, it can be deduced that organisational commitment has a mediating effect on RTC, while its hypothetical moderator effect does not receive any empirical confirmation. As a consequence, practical implications related to the use of HRM tools are discussed for more effective change management.
Key words: resistance to change, organisational commitment, middle management

Tuesday December 11, 2007 at 11:00 (Salle du Conseil, B31, Sart Tilman)

Why environmental regulation may lead to no-regret pollution abatement

M. Pierre-André JOUVET
EconomiX, Université Paris X Nanterre
(co-author: Thierry Bréchet, CORE, UCL)
Paper

Empirical evidence support the existence of pollution abatement possibilities at negative costs, the so-called `no-regret options’. We provide a microeconomic rationale for the existence of such potential at the firm’s level under environmental regulation. An econometric application confirms that marginal pollution abatement cost curves with no-regret options are compatible with a standard production function, as stated in our theoretical model.

Thursday January 24, 2007 from 12h30 to 14h (Bât XVIIème, N1, Louvrex)

Le Design du Système de Contrôle de Gestion : influence des spécificités de la PME

Melles Sarah Santin, Nathalie Crutzen et Rima Rouhana
UER Management, HEC-ULg.

Si l’étude du design du système de contrôle de gestion constitue actuellement une des thématiques privilégiées au sein de la recherche en contrôle de gestion, le contexte spécifique de la PME reste cependant peu envisagé. La présente contribution propose, dans un premier temps, une revue des études consacrées aux critères permettant de définir le système de contrôle de gestion d’une entreprise et aux spécificités que manifestent les PME à cet égard. Dans un second temps, elle propose et explore, au départ de l’analyse de sept études de cas, un modèle, synthétique, contingent et représentatif des critères pertinents, permettant, d’une part, de caractériser le design du système de contrôle de gestion en contexte PME et, d’autre part, de comprendre la manière dont il se structure et évolue dans une quête constante de stabilité adaptative.

Thursday February 7 , 2008 from 12h30 to 14h (Salle du Conseil, B31, Sart Tilman)

City Branding: A Brand Concept Map Analysis of a university town
How is a large university town as Liège perceived by students ?

Melle Céline Brandt
UER Management, HEC-ULg.

We use Brand Concept Maps (BCM) as well as the Zaltman Metaphor Elicitation Technique (ZMET) to determine this perception. First, we explain what the important attributes for a university town are from the students’ point of view. Then, we develop a Brand Concept Map for Liège as a university town. Importance-performance measures allow us to demonstrate the convergent validity, while the split-half reliability test shows the validity of our results. Finally we analyze the divergent perceptions of local and foreign students. Mainly, the goal is to validate the BCM method in the area of city branding and identify how Liège is perceived by local and foreign students.

Thursday February 21, 2008 from 12h30 to 14h (311, bât 17ème, Louvrex)

Faut-il brûler la flexicurité ?
Les conditions d’un compromis économiquement et socialement responsable

Mme Virginie Xhauflair
LENTIC, HEC-ULg.

Le terme Flexicurité est désormais passé dans le langage courant. S’il suscite l’engouement d’un certain nombre d’acteurs, il engendre également de nombreuses controverses, portant essentiellement sur l’opportunité de réformer les marchés du travail en fonction de ce « modèle », et sur sa transférabilité.

Nous entendons contribuer à ce débat en privilégiant une approche pragmatique, centrée sur l’analyse des pratiques effectives mises en œuvre au niveau des entreprises et des territoires (dispositifs de mutualisation de personnel, portage salarial, skill pooling, plate-forme RH, etc.).

Cette réflexion participative nous a permis de cerner un certain nombre de conditions de succès des pratiques de conciliation de la flexibilité et de la sécurité, et de dégager diverses pistes d’actions concrètes à destination de tout acteur du marché du travail désireux de s’engager dans une telle dynamique.

Wednesday February 27, 2008 from 12h30 to 14h (328, N1, Louvrex)

La responsabilité sociale de l’entreprise: de la gouvernance de la firme à la gouvernance de réseau.
Apports d’un élargissement de la théorie des parties prenantes aux dimensions socio-productives

M. Jean-Claude Dupuis
Enseignant-Chercheur, Délégué à la recherche
GEMO-ESDES (Université Catholique de Lyon)

L’analyse dominante de la notion de RSE qui prend appui sur la Théorie des parties prenantes (TPP) laisse dans un angle mort des faits pourtant majeurs pour en saisir la portée. Cet article montre que ces insuffisances découlent du fait que la TPP ne constitue pas une théorie de la firme « complète ». La réduction de ces angles morts invite à comprendre la RSE comme une évolution institutionnelle qui participerait du passage d’une gouvernance d’entreprise à une gouvernance de réseau.

Thursday February 28, 2008 from 13h30 to 15h (Séminaire 12, B31, Sart Tilman)

Research Seminar in Economics:
Population Dynamics: An Overview of Different Models 

M. Salvador LOPEZ
Universidad Autonoma de Barcelona

Tuesday March 4, 2008 from 13h to 17h (311, bât. 17ème, Louvrex)

La diversité du personnel en contact avec les clients et les usagers:
un atout commercial?

Séminaire de travail organisé par le centre EGiD, le CRIPEL, le FOREM et la Région Wallonne
en présence de Me Isabelle Barth (IAE de Lyon)
Inscription obligatoire – Nombre de places limité – Détails

Wednesday March 5, 2008 from 12h30 to 14h (Séminaire 7, B31, Sart Tilman)

Thème: l’innovation des services

Me Veronica Marianne Liljander
Professor, Head of the Department of Marketing
Swedish School of Economics and Business Administration, Helsinki (Finland)

Friday March 21, 2008 from 10h to 12h (Local 138, N1-Louvrex)

Séminaire sur le thème « Nationality constrains rationality »

M. Geert HOFSTEDE
Docteur Honoris Causa
invitation – affiche

Thursday April 10, 2008 from 12h30 to 14h (Salle du Conseil, B31, Sart Tilman)

Geometry of cutting plane generation in integer programming

M. Quentin Louveaux
Chargé de cours, Montéfiore (FSA – ULg).

Abstract:
After a brief overview of some common applications of integer programming, we review the most current method for solving integer programs, i.e. the branch-and-cut. We then discuss a geometric approach to the generation of cutting planes. In particular we focus on the generation of cutting planes from one and two rows of a simplex tableau. Our model consists, from two rows of the simplex tableau, in keeping two integer variables (relaxing nonnegativity) and relaxing the integrality of the remaining variables (keeping nonnegativity). The main result is that every facet of a basic two row-problem can be found from three or four variables. From the geometric point of view, every facet is either a triangle or a quadrilateral.
This is joint work with K. Andersen, R. Weismantel and L. Wolsey.

Thursday April 10, 2008 from 13h30 to 15h (Séminaire 12, B31, Sart Tilman)

Automobile Fuel Efficiency Policies with International Innovation Spillovers

M. Philippe Barla – Université de Laval.
This is joint work with Stef Proost.

Thursday April 17, 2008 from 13h30 to 15h (Séminaire 12, B31, Sart Tilman)

Entry under Capacity Limitation and Vertical Differentiation: return of the Judo Economics

Xavier Wauthy (FUSL)
This is joint work with Nicoals Boccard.

Thursday April 24, 2008 from 13h30 to 15h (Séminaire 12, B31, Sart Tilman)

Research Seminar in Economics:
Evaluation économique de la campagne de dépistage de l’ostéoporose menée en province de Liège

M. Mickaël HILIGSMANN, Université de Liège
papier co-écrit avec Olivier Bruyère, Georges Pire et Jean-Yves Reginster

Tuesday May 6, 2008 from 12h30 to 14h (311, N1)

La responsabilité sociale des entreprises

M. Emmanuel RAUFFLET
HEC Montréal (Québec)
abstract, présentation

Thursday May 8, 2008 from 13h30 to 15h (Séminaire 12, B31, Sart Tilman)

Tax Evasion: Cheating Rationally or
Deciding Emotionally?

Marie-Claire Villeval, CNRS-Gate, Université de Lyon.

Thursday May 29, 2008 from 13h30 to 15h (Séminaire 12, B31, Sart Tilman)

Rehabilitated or Not?: To Release (?) is the Question

Steeve Mongrain, Simon Fraser University

Thursday June 5, 2008 from 12h30 to 14h (Salle du Conseil, B31, Sart Tilman)

Joined seminar with the department of Statistics (Fac. of Sciences)

M. Cédric Heuchenne
Chargé de cours, UER Operations, HEC-ULg.

Monday June 9, 2008 from 12h45 to 14h (S.33, Institut de Mathématiques)

When algebra and geometry meet graphs…

M.Felix Lazebnik
Department of Mathematical sciences, University of Delaware, USA.

Abstract:
In this talk we present a simple method for constructing infinite families of graphs defined by a class of systems of equations over finite fields (or just arbitrary commutative rings).
In many instances, specializations of these constructions have proved useful in various graph theory problems.
The talk is a survey of the results (old and new) obtained by using these constructions and of the geometric and algebraic origins of the methods.
At the end we present several new (and simply stated) open problems.

Tuesday June 10, 2008 from 13h30 to 15h (Séminaire 12, B31, Sart Tilman)

Custom in the Shadow of the Formal Law: An Economic Analysis

Gani Aldashev, Université de Namur
co-écrit avec Imane Chaara, Jean-Philippe Platteau, and Zaki Wahhaj

ce séminaire est annulé.

Wednesday June 18, 2008 from 12h30 to 14h (B31, Sart Tilman)

Programmation par contraintes pour le problème de l’isomorphisme de sous-graphe

M. Stéphane Zampelli
Groupe de recherche BeCool, UCL

Abstract:
La technique de programmation par contrainte est une descendante de la programmation logique, née en europe il y a une trentaine d’années.Elle est l’objet de conférences internationales (CP – CPAIOR…) et de revues scientifiques internationales (i.e. « constraints »).
La recherche dans ce domaine comprend le développement d’algorithmes efficaces s’appuyant fréquemment sur des techniques de graphes (programmation de contrainte globales comme par exemple « packing », « all-different », etc.)
Les applications sont variées : knapsack, bin-packing, routing, scheduling, inventory management, auctions, networks,stochastic problems, matrix decomposition…
La programmation par contrainte est généralement combinée avec des techniques de recherche locale (branch & bound, tabu search, variable neighborhood search, ant colony…) et ses connexions avec des méthodes mathématiques telle que la programmation entière sont également étudiées par les chercheurs.

Thursday June 19, 2008 from 12h30 to 14h (Salle du Conseil, B31)

Identity dynamics in post-NPM administration:
An interplay between contents and context

Me Giseline RONDEAUX
LENTIC, HEC-ULg
paper

Ce séminaire a été reporté à une date ultérieure.