Information environnementale : Utilité pour l'investisseur et Impact de la réglementation

Using disclosure scores to assess the level of environmental information provided by 121 randomly selected European listed companies, this research has two major goals. First, it examines whether environmental information is useful to investors. Second, it analyzes whether it is worth regulating environmental disclosures. Results reveal that the usefulness of environmental disclosures for investors is not uniform. It varies among firms, increasing with (i) exposure to environmental risks; (ii) ownership dispersion; (iii) the level of financial opacity. Furthermore, results also reveal that regulation has a direct and induced favorable impact on corporate environmental disclosure. After controlling for the usual determinants of environmental disclosures, we show that firms subject to a law that regulates environmental reporting disclose more than those domiciled in countries that have developed guidelines only. Finally, in a context where environmental information is mainly voluntary, we show that firms reserve their environmental communication for their preferred stakeholders.Cette thèse analyse l’impact de la réglementation des divulgations environnementales ainsi que l’utilité de ces informations pour les investisseurs, partie prenante susceptible d’influencer l’entreprise en l’amenant à produire l’information environnementale utile, éventuellement imposée par la réglementation. Notre recherche s’appuie sur une approche quantitative basée sur le traitement des scores de divulgation environnementale au travers de modèles de régression ordinaire et censuré. Les scores de divulgation environnementale ont été calculés à partir d’une grille de mesure élaborée par nos soins et utilisée pour l’analyse de 121 entreprises européennes.Les résultats montrent que la réglementation des divulgations environnementales a un impact positif direct et induit sur le niveau de divulgation environnementale des entreprises. Par contre, l’impact des recommandations gouvernementales ou émanant d’organismes professionnels est identiquement faible. Les résultats montrent également que l’utilité des divulgations environnementales pour les investisseurs n’est pas uniforme : elle dépend de l’opacité des divulgations financières de l’entreprise, de son exposition aux risques environnementaux et de la structure de son actionnariat. Enfin, dans un contexte où l’information environnementale publiée est largement, voire totalement volontaire, les résultats montrent que les entreprises orientent leur communication environnementale en fonction des parties prenantes qu’elles identifient comme prioritaires

Coronin-1A Links Cytoskeleton Dynamics to TCRαβ-Induced Cell Signaling

Actin polymerization plays a critical role in activated T lymphocytes both in regulating T cell receptor (TCR)-induced immunological synapse (IS) formation and signaling. Using gene targeting, we demonstrate that the hematopoietic specific, actin- and Arp2/3 complex-binding protein coronin-1A contributes to both processes. Coronin-1A-deficient mice specifically showed alterations in terminal development and the survival of αβT cells, together with defects in cell activation and cytokine production following TCR triggering. The mutant T cells further displayed excessive accumulation yet reduced dynamics of F-actin and the WASP-Arp2/3 machinery at the IS, correlating with extended cell-cell contact. Cell signaling was also affected with the basal activation of the stress kinases sAPK/JNK1/2; and deficits in TCR-induced Ca2+ influx and phosphorylation and degradation of the inhibitor of NF-κB (IκB). Coronin-1A therefore links cytoskeleton plasticity with the functioning of discrete TCR signaling components. This function may be required to adjust TCR responses to selecting ligands accounting in part for the homeostasis defect that impacts αβT cells in coronin-1A deficient mice, with the exclusion of other lympho/hematopoietic lineages

Comparative Analysis of Acinetobacters: Three Genomes for Three Lifestyles

Acinetobacter baumannii is the source of numerous nosocomial infections in humans and therefore deserves close attention as multidrug or even pandrug resistant strains are increasingly being identified worldwide. Here we report the comparison of two newly sequenced genomes of A. baumannii. The human isolate A. baumannii AYE is multidrug resistant whereas strain SDF, which was isolated from body lice, is antibiotic susceptible. As reference for comparison in this analysis, the genome of the soil-living bacterium A. baylyi strain ADP1 was used. The most interesting dissimilarities we observed were that i) whereas strain AYE and A. baylyi genomes harbored very few Insertion Sequence elements which could promote expression of downstream genes, strain SDF sequence contains several hundred of them that have played a crucial role in its genome reduction (gene disruptions and simple DNA loss); ii) strain SDF has low catabolic capacities compared to strain AYE. Interestingly, the latter has even higher catabolic capacities than A. baylyi which has already been reported as a very nutritionally versatile organism. This metabolic performance could explain the persistence of A. baumannii nosocomial strains in environments where nutrients are scarce; iii) several processes known to play a key role during host infection (biofilm formation, iron uptake, quorum sensing, virulence factors) were either different or absent, the best example of which is iron uptake. Indeed, strain AYE and A. baylyi use siderophore-based systems to scavenge iron from the environment whereas strain SDF uses an alternate system similar to the Haem Acquisition System (HAS). Taken together, all these observations suggest that the genome contents of the 3 Acinetobacters compared are partly shaped by life in distinct ecological niches: human (and more largely hospital environment), louse, soil

Extracorporeal Membrane Oxygenation for Severe Acute Respiratory Distress Syndrome associated with COVID-19: An Emulated Target Trial Analysis.

RATIONALE: Whether COVID patients may benefit from extracorporeal membrane oxygenation (ECMO) compared with conventional invasive mechanical ventilation (IMV) remains unknown. OBJECTIVES: To estimate the effect of ECMO on 90-Day mortality vs IMV only Methods: Among 4,244 critically ill adult patients with COVID-19 included in a multicenter cohort study, we emulated a target trial comparing the treatment strategies of initiating ECMO vs. no ECMO within 7 days of IMV in patients with severe acute respiratory distress syndrome (PaO2/FiO2 <80 or PaCO2 ≥60 mmHg). We controlled for confounding using a multivariable Cox model based on predefined variables. MAIN RESULTS: 1,235 patients met the full eligibility criteria for the emulated trial, among whom 164 patients initiated ECMO. The ECMO strategy had a higher survival probability at Day-7 from the onset of eligibility criteria (87% vs 83%, risk difference: 4%, 95% CI 0;9%) which decreased during follow-up (survival at Day-90: 63% vs 65%, risk difference: -2%, 95% CI -10;5%). However, ECMO was associated with higher survival when performed in high-volume ECMO centers or in regions where a specific ECMO network organization was set up to handle high demand, and when initiated within the first 4 days of MV and in profoundly hypoxemic patients. CONCLUSIONS: In an emulated trial based on a nationwide COVID-19 cohort, we found differential survival over time of an ECMO compared with a no-ECMO strategy. However, ECMO was consistently associated with better outcomes when performed in high-volume centers and in regions with ECMO capacities specifically organized to handle high demand. This article is open access and distributed under the terms of the Creative Commons Attribution Non-Commercial No Derivatives License 4.0 (http://creativecommons.org/licenses/by-nc-nd/4.0/)

FAUT-IL MIEUX REGLEMENTER LE REPORTING EXTRA FINANCIER POUR AMELIORER SA PRISE EN COMPTE PAR LES INVESTISSEURS ?

International audienceThis paper aims to show why CSR information is not fully considered by investors. We contend that the regulation of CSR reporting is not constraining enough to make companies disclose complete and high quality non-financial information likely to be used by investors. CSR information needs to be more strongly constrained, notably by means of international regulation, in order to avoid selective disclosures. Furthermore, to enhance credibility, CSR disclosures have to be auditable. Finally, all breaches in compliance requirements being indictable.Cet article vise à expliciter pourquoi l'information extra financière n'est pas suffisamment prise en compte par les investisseurs. Nous argumentons que la réglementation du reporting extra financier n'est pas suffisamment contraignante pour amener les entreprises à publier une information complète et de qualité, condition indispensable à sa prise en compte par les investisseurs. L'information extra financière doit être plus contrainte, notamment par des normes internationales, afin d'éviter les divulgations sélectives. De plus, afin d'améliorer sa crédibilité, l'information extra financière publiée doit être contrôlée. Enfin, tout manquement aux exigences de la réglementation doit être sanctionné

Legislative Documents

Also, variously referred to as: House bills; House documents; House legislative documents; legislative documents; General Court documents

Comprendre et optimiser la fonction finance

International audienc

Faut-il mieux réglementer le reporting extra financier ?

National audienceThis paper aims to explain why CSR information is not fully considered by investors. We contend that the regulation of CSR reporting is notconstraining enough to make companies disclose complete and high quality non-financial information likely to be used by investors. CSRinformation needs to be more strongly constrained, notably by means of international regulation, in order to avoid selective disclosures. Furthermore, toenhance credibility, CSR disclosures have to be audited. Finally, all breaches in compliance requirements have to be subject to sanctions.Cet article vise à expliciter pourquoi l’information extra financière publiée par les entreprises est peu prise en compte par les investisseurs. Nous argumentons que la réglementation du reporting extra financier n’est pas suffisamment contraignante pour amener les entreprises à publier une information complète et de qualité, condition indispensable à son intégration dans les décisions d’investissement. L’information extra financière doit être plus contrainte, notamment par des normes, afin d’éviter les divulgations sélectives. De plus, afin d’améliorer sa crédibilité, l’information publiée doit être contrôlée. Enfin, tout manquement aux exigences de la réglementation doit être sanctionné

“J’ai totalement confiance en mon équipe!” ::Des filles issues de la migration s’engagent dans le football en Suisse romande

This article is based on ethnographic research conducted with female soccer players of migrant background playing in three 4th league teams in French-speaking Switzerland. We present a reflection on the participation and sustainable commitment of these young women in soccer, both in its sporting and associative dimensions. In Switzerland, there are few or no policies for integration through sport, as can be found in other European countries. The integration of girls in soccer clubs is itself the object of little support and attention from sporting institutions. We explore what drives female players to invest in this activity considered as subaltern when it is played by women and girls. The article highlights several reasons for their commitment, emphasizing the importance of the collective and of the affective ties within the teams as well as the social recognition that comes with it. We also show how women players engage in the situation and with the obstacles encountered in their practice to develop their agency and their resources by testing new forms of social cooperation and conflict

Inverse analysis for identification of parameters during thermo-mechanical tests

International audienceSensitivity matrix evaluation in gradient method for inverse analysis is a major of importance. The techniques vary from the optimisation problems, the main feature of the direct models and the type of applications. The semi-analytical method of sensitivity analysis of inverse problems is very attractive thanks to the compromise between computational time and ease of derivatives evaluation. Especially for parameter identification in material forming domain, this technique seems to be promising. This paper presents a comparison between semi-analytical and finite difference methods. The framework of this work is the rheological and tribological parameter identification through material forming process analysis. The identification software CART (Computer Aided Rheology and Tribology) was developed from the finite element code FORGE2(R) devoted to material forming processes simulation