TORRE , Dominique

L'objectif de ce travail est d'étudier l'impact des caractéristiques particulières des capital-risqueurs indépendants (IVC) et des capital-risqueurs industriels (CVC) en termes de ressources spécifiques, de comportements stratégiques et de niveau de complémentarité des projets financés sur leur efficacité en matière de financement du...

This paper aims to connect two strands of the venture capital literature: the inter-relationships among venture capitalists (VCs) on the one hand, and between VCs and their funds providers on the other hand. It examines the existence of a relationship between type of fund provider and skill characteristics of the VCs partners in a syndication...

A crucial factor in the efficiency of a syndicated venture capital investment is the level and the nature of skills of the partners involved. Observation of venture capitalists (VC) syndicates shows that the skills of their members are heterogeneous. Some syndicates involve leaders and partners with different levels of specialization and/or...

De nombreux travaux soutiennent que les CVCs (Corporate Venture Capitalists) financent des investissements ayant une rentabilité moindre que les IVCs (Independent Venture Capitalists). Plusieurs explications sont avancées. La plus fréquente est que les CVCs, assurés d'un refinancement quasi-automatique de la part de leur maison-mère, subissent...

Les investisseurs en capital-risque indépendants (IVC) se distinguent des organismes captifs, ces derniers étant des filiales de banques, de sociétés industrielles ou d'organismes publics. On attribue généralement aux premiers une meilleure rentabilité et une meilleure sélectivité des projets et aux seconds de moindres performances.L'objectif...

International audience

Après avoir rappelé les traits originaux du modèle économique du logiciel libre et ses phases d'émergence et de diffusion dans l'industrie du logiciel, l'article présente le numéro spécial de la Revue d'Économie Industrielle consacré à l'Economie du logiciel libre. Il met en évidence deux préoccupations essentielles liées au stade actuel...

International audience

Paul Einzig was born in 1897 in Brasov but comes to London in 1919. From 1920, he begins to write articles for scienti c reviews, especially The Economic Journal, while he contributes more regularly to The Financial News, The Financial Times or The Banker. From this period to his death in 1973, he writes also many books, on very diverse...

Paul Einzig was born in 1897 in Brasov and came to London in 1919. From 1920, he began to write articles for scientific reviews, especially The Economic Journal, and became a regular contributor to The Financial News, The Financial Times and The Banker. Up to the time of his death in 1973, he had written many books, on diverse subjects but...

International audience

Since 1990s environmental protection and awareness became major issues. Consumers are more and more aware of environmental issues and conscious of existing pollution caused by mass tourism. Consequently a new segment of demand desiring sustainable tourism products have appeared, enhancing service providers to offer this type of products. This...

The paper reexamines and discusses the causes of the failure of the French economic missions to implement a sound monetary and financial system in Romania between 1928 and 1933. Banque de France Deputy Governor Charles Rist, also professor of Economics at La Sorbonne University, was the leading personality of the delegation which included,...

The topic of this paper is to analyze comparatively the interest and the advantages of the existence of heterogeneous institutions in the Venture Capital activity. We focus on the duality relevant in Europe between Independent Venture Capitalists and the Bank-Affiliated ones. We first discuss in the second section the different characteristics...

In this paper, we consider the dynamics and competition between two software platforms. One is Open Source and is produced by an OS community and the other is based on proprietary software produced by a monopoly. Potential users can adopt one of the two platforms in order to fill specific needs (develop and sell new applications based on the...

International audience

Since 1990s environmental protection and awareness became major issues. Consumers are more and more aware of environmental issues and conscious of existing pollution caused by mass tourism. Consequently a new segment of demand desiring sustainable tourism products have appeared, enhancing service providers to offer this type of products. This...

This paper analyzes the capacity of mobile-payment solutions to improve financial inclusion in developing countries. It elaborates from rural East African countries experiences where mobile payment services have developed rapidly. With a simple dynamic model which rationalizes traders' adoption process of distant mobile payment services, we...

Venture Capital investments combine skills and financial risks. The capacity of financial intermediaries to assume financial risk has to meet managerial skills able to screen the projects, then to increase the number and the return of the successful projects among the selected ones. The screening tasks are devoted in seed stage to the Venture...

International audience

International audience

This paper analyzes the properties of the advanced Opaque booking systems used by the online travel agencies in conjunction with their traditional transparent booking system. In section 2 we present an updated literature review. This review underlines the interest and the specicities of Opaque goods in the Tourism Industry. It also...

This paper proposes a theoretical setting to analyze the possibility of implementing a blockchain governance to local complementary currencies. The local currency that we capture is used to promote objectives such as short distribution channels, high quality products, and sustainable behaviors at the local level. Its viability relies on the...

This paper examines the application of the blockchain technology to local complementary currencies through two consensus protocols: the Proof of Work (PoW) and the Proof of Stake (PoS). Given the increasing digitisation of local currencies, and the challenges affecting their management and operation, we analyse the potential of a technological...

No description