Search Results

The financing of small businesses (SBs) remains a key concern, which this article addresses through the study of the poorly addressed topic of the financing decision through the demand-side. The article is based on the importance of the role of the manager as a decision maker. Taking a step aside from the work in classical entrepreneurial finance, this research focuses on the building of the decision, and is based on a processual approach. To this end, the theoretical framework is based on the initial hypothesis of a manager's choice based on a proxemic logic. Seven cases are then studied empirically to explore this hypothesis, using developments from strategic decision-making in SMEs. The results reveal the existence of a behavioral spectrum ranging from proactivity to an opportunistic wait-and-see attitude among executives of SMEs. Decision-making can be modeled in four fundamental stages. They also show a limitation of the historical three-dimensional model to study the financing decision in SMEs. Finally, they suggest embracing the proxemics approach as a heuristic for small business management, particularly with respect to financing decisions.

Keywords: Financement, Petite entreprise, Demande, Proximité, Étude de cas, Financing, Small business, Demand-side, Proximity, Case study, Financiación, Pequeña empresa, Demanda, Proximidad, Estudio de caso

The objective of this work consists in studying the impact of the financial constraints on the innovative behaviour in small and medium-sized enterprises. We start from the methodology of Fazzari Hubbard and Petersen (1988) which supposes that in a context of asymmetry of information, the sensitivity of the investment to an indicator of the internal wealth of the firm involves the existence of financial constraints. The results of a study obtained by a Logit model, done on a sample of 117 small and medium-sized firms show a positive and significant impact of the cash-flow on the innovative investment what implies a sensibility of the innovation to the internal resources which further confirms that the innovative SMEs are financially constrained. Other investigations reveal a more important sensitivity for the enterprises involved in research and development activities, as they are more exposed to the constraints as for the access to the external financing.

Keywords: Innovation, Contraintes financières, Structure financière, PME, Cash-flow, Innovation, Financial constraints, Financial structure, SMEs, Cash-flow, Innovación, Restricciones financieras, Estructura financiera, PyME, Flujo de fondos

Building on structural modeling, this experimental research conducted on 276 students measures the impact of entrepreneurial role models on self-efficacy and entrepreneurial intention. Our findings indicate that students' exposure to a message presenting a role model testimonial generates a positive emotional arousal and a favorable attitude towards the message, which consequently strengthens the relationship between self-efficacy and entrepreneurial intention. Our results demonstrate that for some participants negative models also generate a positive impact, reinforcing self-efficacy and entrepreneurial intention. Furthermore, our research highlight the fact that message framing and oral encouragement of one of the members of the pedagogical team before message exposure exerts a somehow paradoxical moderating effect on these results, which varies according to the participants' gender. We discuss these outcomes and we highlight the limited role of pedagogical staff in the impact of entrepreneurial role models.

Keywords: Modèle de rôle, Auto-efficacité, Intention entrepreneuriale, Éveil émotionnel, Persuasion verbale, Role models, Self-efficacy, Entrepreneurial intention, Emotional arousal, Verbal persuasion, Modelo de conducta, Autoeficacia, Intención emprendedora, Desvelo emocional, Persuasión verbal

The purpose of this research is to analyze the effect of the university experience (scholarship, repetition) on the relationship between pre-entry attributes (father's occupation, gender, place of birth, age at first enrollment, field of study in high school, graduate point average [GPA], university enrollment delay in the university, university reform) and academic persistence in master's degree in science, technology, engineering, and mathematics (STEM) at a university in Burkina Faso. Cox regression and modern mediation analyses are used on longitudinal data from 14 cohorts of freshmen (n = 13,891). Findings revealed indirect-only mediation (father's occupation [other], field of study in high school, age at first enrollment), complementary mediation (GPA), competitive mediation (university enrollment delay, university reform), and an absence of mediation (direct-only) for gender. There is no mediating effect for the place of birth and the father's salaried profession. Scholarship programs as well as appropriate reforms and policies aiming to reduce repetition are required to improve academic persistence in master's degree in STEM.

Keywords: academic persistence, university experience, survival analysis, mediation analysis, Burkina Faso, persévérance aux études, expérience universitaire, analyse de survie, analyse de médiation, Burkina Faso, perseverança nos estudos, experiência universitária, análise de sobrevivência, análise de mediação, Burkina Faso

Household services sector in France is characterized by involuntary part-time jobs, even in permanent contracts, fixed-term contracts and multi-activity. The situation of these employees does not therefore obey a simple dual structure between permanent contracts (CDI) and short-term contracts. May this explain why, while this sector is a provider of large and growing number of jobs, employers struggle to recruit? This article is twofold: first, we shed light on the determinants of household services employee's mobility towards either stable employment or to precarity, when initially hired on temporary contracts. Second, we analyze these employees' transitions within the labor market. We estimate a competing risks model on the French Labor Force Survey 2003-2011, which allows detailed information on these employees' transitions.

The aim of this article is to summarize the literature for managers, researchers and practitioners on the foundations, determinants and results of the implementation of a risk management policy on performance. To achieve this goal, the article is subdivided into three parts. The first presents the fundamentals of risk management in the context of firm theory, the second provides the main determinants of risk management, and the third concludes with a state-of-the-art of empirical studies on risk management and its influence on the performance of non-financial companies.

Keywords: Management du risque, Performance, Performance globale, Risk management, Overall performance and performance

ABSTRACTFollowing the demise of the Bretton Woods system, the poor predictive value of traditional elasticity models of exchange rates rekindled interest in the theoretical relationship between exchange rates and prices of internationally traded goods. This paper provides a critical survey of the emerging theoretical and empirical literature in exchange rate pass-through with the objective of offering guidance for future research.