On the Interactions between Capital Structure and Product Markets.A Survey of the Literature

This paper surveys capital structure theories based on product characteristics and the structure of input and output markets. In this manner, it extends the work of Harris and Raviv (1991). Simultaneously, we relate capital structure to decisions in the input and output markets, such as production and pricing, investments, and entry and exit. We briefly discuss each of the central papers in these literatures and relate them to the other models. Next, we present the known empirical evidence that either supports or rejects these models. Finally, we offer our conclusions and elaborate on this review article’s implications for future research.

The Role of Institutional Investors in Corporate Finance

This paper argues that institutional investors may have a positive effect on stock prices. This effect realizes through different mechanisms: institutional investors reduce information asymmetries between firms and (other) investors, contribute to the liquidity of the company’s stock and improve its corporate governance. We conjecture that firms, understanding the benefits of having institutional investors in their ownership, may do efforts to attract them. We apply this idea in the context of IPOs. Using data on Belgian IPOs over the period 1984-2000, we find that firms using the stock market as a financing vehicle and firms less likely to be monitored by corporate blockholders are more likely to pre-allocate shares to institutional investors at IPO-time. Finally, pre-allocating shares to institutional investors is shown to reduce underpricing and enhance post-IPO liquidity.

Results of the enquiry carried out on the NAP of the MS about the PAE to be exempted from the inspection and about the Risk Assessment methods applied.

The European Directive 2009/128/EC establishing a framework for Community action to achieve the sustainable use of pesticides sets rules to reduce the risks and impacts of pesticide use on people’s health and the environment. The Article 4 of this Directive requests the Member States (MS) to adopt a National Action Plan (NAP) to set up their quantitative objectives, targets, measures and timetable to reach the Directive’s objectives. Article 8/3 of the Directive allows the MS to derogate from the mandatory inspection at regular intervals for certain types of pesticide application equipment (PAE). The derogation is based on a risk assessment for human health and environment and an assessment of scale of use.  The purpose of this paper is to report on an enquiry carried out on the NAPs about the PAE to be exempted from the inspection and about the risk assessment methods developed and applied by the MS

Introduction paper

contribution to session 2 Member States may apply different timetables and inspection intervals with exceptions following a risk assessment and exempt handheld pesticide application equipment or knapsack sprayers (according article 8/3

Conclusions of session 2

contribution to session 2 Member States may apply different timetables and inspection intervals with exceptions following a risk assessment and exempt handheld pesticide application equipment or knapsack sprayers (according article 8/3

How and when does personal life orientation predict well-being?

Abstract We examined the direct and indirect––as mediated by job satisfaction––effects of personal life orientation on life satisfaction. We also examined whether these direct and indirect associations differed between employees working onsite or remotely. Using data from 432 employees (152 working onsite and 280 working remotely), our results revealed that personal life orientation was positively related to life satisfaction and negatively related to job satisfaction. Moreover, both of these direct associations were stronger among onsite employees than among remote employees. As a result, the indirect effects of personal life orientation on life satisfaction were significantly mediated by job satisfaction among employees working onsite, but not among employees working remotely. This study thus reveals that working remotely may act as a double-edged sword by buffering the negative effects of personal life orientation on job satisfaction, but also by limiting the positive effects of personal life orientation on life satisfaction

On the nature, predictors, and outcomes of longitudinal work passion profiles

Abstract Based on the dualistic model of passion, this study relies on person-centered analyses to assess how harmonious passion and obsessive passion for work combine within specific profiles of employees. We also documented the stability of these profiles over time and their associations with theoretically relevant predictors and outcomes, among a sample of 442 employees who completed a questionnaire twice over a period of 3 months. Finally, we examined whether these associations differed as a function of working remotely or onsite. Four profiles were identified and found to be highly stable over time: harmonious passion dominant, obsessive passion dominant, mixed passion-average, and low passion. Work centrality, family orientation, and supervisor expectations regarding work-related messages were all found to be related to employees’ likelihood of membership into the profiles in a way that generally supported our hypotheses. Moreover, and as expected, the harmonious passion dominant profile was associated with the highest levels of work–family enrichment, family–work enrichment, and job and life satisfaction. Lastly, none of these associations differed among employees working onsite or remotely