{"id":"https://openalex.org/W1021100186","doi":null,"title":"Employees Equity Issue and Asymmetric Information:Evidence from France - Augmentations de capital r\u00e9serv\u00e9es aux salari\u00e9s et Asym\u00e9trie d\u2019information:Cas de la France","display_name":"Employees Equity Issue and Asymmetric Information:Evidence from France - Augmentations de capital r\u00e9serv\u00e9es aux salari\u00e9s et Asym\u00e9trie d\u2019information:Cas de la France","publication_year":2012,"publication_date":"2012-09-01","ids":{"openalex":"https://openalex.org/W1021100186","mag":"1021100186"},"language":"fr","primary_location":{"id":"pmh:oai:RePEc:dij:wpfarg:1120901","doi":null,"is_oa":false,"landing_page_url":"https://repec-crego.u-bourgogne.fr/images/stories/wp/1120901.pdf","pdf_url":"https://repec-crego.u-bourgogne.fr/images/stories/wp/1120901.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5039997395","display_name":"Djaoudath Alidou","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Djaoudath Alidou","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5039997395"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9984999895095825,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9984999895095825,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.0005000000237487257,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.00019999999494757503,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/employee-share-options","display_name":"employee share options","score":0.5360000133514404},{"id":"https://openalex.org/keywords/employee-ownership","display_name":"employee ownership","score":0.492000013589859},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"information asymmetry","score":0.7710000276565552},{"id":"https://openalex.org/keywords/pecking-order-theory","display_name":"pecking order theory","score":0.9919999837875366},{"id":"https://openalex.org/keywords/funding-gap","display_name":"financing gap","score":0.671999990940094},{"id":"https://openalex.org/keywords/financial-analysts","display_name":"financial analysts","score":0.9330000281333923},{"id":"https://openalex.org/keywords/intangible-assets","display_name":"intangible assets","score":0.8600000143051147},{"id":"https://openalex.org/keywords/french-firms","display_name":"French firms","score":0.5709999799728394}],"concepts":[{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.6293894052505493},{"id":"https://openalex.org/C172983313","wikidata":"https://www.wikidata.org/wiki/Q1567268","display_name":"Pecking order theory","level":4,"score":0.532997727394104},{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.4639221429824829},{"id":"https://openalex.org/C549774020","wikidata":"https://www.wikidata.org/wiki/Q851147","display_name":"Welfare economics","level":1,"score":0.4129742383956909},{"id":"https://openalex.org/C140331021","wikidata":"https://www.wikidata.org/wiki/Q1868104","display_name":"Logit","level":2,"score":0.41003215312957764},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.39553290605545044},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3689737319946289},{"id":"https://openalex.org/C15708023","wikidata":"https://www.wikidata.org/wiki/Q80083","display_name":"Humanities","level":1,"score":0.35664379596710205},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.30961358547210693},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.25488895177841187},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.20980989933013916},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0879623293876648},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:RePEc:dij:wpfarg:1120901","doi":null,"is_oa":false,"landing_page_url":"https://repec-crego.u-bourgogne.fr/images/stories/wp/1120901.pdf","pdf_url":"https://repec-crego.u-bourgogne.fr/images/stories/wp/1120901.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:1021100186","doi":null,"is_oa":false,"landing_page_url":"https://econpapers.repec.org/paper/dijwpfarg/1120901.htm","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth","score":0.48510000109672546},{"id":"https://metadata.un.org/sdg/10","display_name":"Reduced inequalities","score":0.4000000059604645}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":23,"referenced_works":["https://openalex.org/W1479951005","https://openalex.org/W1557518801","https://openalex.org/W1603765623","https://openalex.org/W1986474354","https://openalex.org/W2000578291","https://openalex.org/W2018716426","https://openalex.org/W2028427785","https://openalex.org/W2087049229","https://openalex.org/W2102558868","https://openalex.org/W2126424896","https://openalex.org/W2161960891","https://openalex.org/W2170790204","https://openalex.org/W2239936785","https://openalex.org/W3122153419","https://openalex.org/W3122206384","https://openalex.org/W3123363562","https://openalex.org/W3124114405","https://openalex.org/W3124168832","https://openalex.org/W3124450204","https://openalex.org/W3124811674","https://openalex.org/W3124871904","https://openalex.org/W3125450538","https://openalex.org/W3125637487"],"related_works":["https://openalex.org/W7101182791","https://openalex.org/W7134557451","https://openalex.org/W1568236948","https://openalex.org/W7143500497","https://openalex.org/W7215457034","https://openalex.org/W76755786","https://openalex.org/W7099638290","https://openalex.org/W7034091462","https://openalex.org/W7143505007","https://openalex.org/W6987320387"],"abstract_inverted_index":{"(VA)This":[0],"study":[1],"explores":[2],"determinants":[3],"of":[4,8,15,39,67,93,99,128,148],"employees\u2019":[5,52,137],"equity":[6,53,111,138],"issues":[7,139],"French":[9,57],"companies.":[10],"Based":[11],"on":[12,46,56,64,106,135],"the":[13,16,47,78,91,97,107,126,136,146],"predictions":[14,147],"pecking":[17,149],"order":[18,150],"theory,":[19],"we":[20],"test":[21],"whether":[22],"asymmetric":[23,86],"information":[24,87],"influences":[25],"a":[26,61,65,103,132,193,242,283],"company\u2019s":[27],"decision":[28,55,108],"to":[29,43,74,109,112,144],"issue":[30,54,110],"new":[31],"shares":[32],"reserved":[33],"for":[34],"employees.":[35,113],"The":[36],"main":[37],"contribution":[38],"this":[40],"paper":[41],"is":[42,88,102,116],"provide":[44],"evidence":[45],"factors":[48],"that":[49,72,84,125],"matter":[50],"in":[51],"context.":[58],"We":[59],"develop":[60],"logit":[62,224],"model":[63],"sample":[66],"110":[68,210],"non":[69,212],"financial":[70,94],"companies":[71],"belong":[73],"SBF250":[75,217],"index":[76],"over":[77],"period":[79],"1998-2007.":[80],"Our":[81],"results":[82],"show":[83],"when":[85],"measured":[89],"by":[90],"number":[92],"analysts":[95],"and":[96],"intangibility":[98],"assets,":[100],"there":[101],"positive":[104,133],"effect":[105],"This":[114,141],"result":[115],"consistent":[117],"with":[118],"previous":[119],"studies.":[120],"Furthermore,":[121],"our":[122],"research":[123],"confirms":[124],"level":[127],"financing":[129],"deficit":[130],"has":[131],"influence":[134,195],"decision.":[140],"finding":[142],"allows":[143],"confirm":[145],"theory.(VF)L\u2019objectif":[151],"de":[152,159,164,169,180,209,218,235,248,273,281,290,296,308],"cet":[153],"article":[154],"est":[155,225,264],"d\u2019identifier":[156],"les":[157,178,229,306],"d\u00e9terminants":[158],"la":[160,181,197,252,288,309],"d\u00e9cision":[161,198,234,253,289],"des":[162,200,255],"entreprises":[163,211],"recourir":[165],"\u00e0":[166,220],"une":[167,194,294],"augmentation":[168,295],"capital":[170,297],"r\u00e9serv\u00e9e":[171,298],"aux":[172,203,258,299],"salari\u00e9s.":[173,204,300],"En":[174],"se":[175],"basant":[176],"sur":[177,196,251,287],"pr\u00e9dictions":[179,307],"th\u00e9orie":[182,310],"du":[183,279,311],"financement":[184,282,312],"hi\u00e9rarchique,":[185],"nous":[186],"v\u00e9rifions":[187],"si":[188],"le":[189,267,277],"niveau":[190,278],"d\u2019asym\u00e9trie":[191],"d\u2019information":[192,250,263],"d\u2019\u00e9mettre":[199,254],"actions":[201,256],"r\u00e9serv\u00e9es":[202,257],"A":[205],"partir":[206],"d\u2019un":[207],"\u00e9chantillon":[208],"financi\u00e8res":[213],"fran\u00e7aises":[214],"appartenant":[215],"au":[216],"1998":[219],"2007,":[221],"un":[222,243,284],"mod\u00e8le":[223],"d\u00e9velopp\u00e9":[226],"afin":[227],"d\u2019examiner":[228],"facteurs":[230],"qui":[231],"influencent":[232],"cette":[233,261],"financement.":[236],"Les":[237,301],"r\u00e9sultats":[238,302],"montrent":[239],"qu\u2019il":[240],"y":[241],"effet":[244,285],"positif":[245,286],"statistiquement":[246],"significatif":[247],"l\u2019asym\u00e9trie":[249],"salari\u00e9s,":[259],"lorsque":[260],"asym\u00e9trie":[262],"mesur\u00e9e":[265],"par":[266],"nombre":[268],"d\u2019analystes":[269],"financiers":[270],"et":[271],"l\u2019intangibilit\u00e9":[272],"l\u2019actif.":[274],"De":[275],"m\u00eame,":[276],"d\u00e9ficit":[280],"mettre":[291],"en":[292],"place":[293],"obtenus":[303],"confirment":[304],"ainsi":[305],"hi\u00e9rarchique.":[313]},"counts_by_year":[],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}