Bernard Morard

• University of Geneva

The purpose of this study is to present a new approach to consumer behavior analysis by generating a tailor-made consumer behavior model. The study’s area of focus is wine e-commerce on the Swiss market. As a design methodology, the authors sent an electronic survey to local wine consumers in Switzerland. They analyzed a final sample size of n = 69...

This article aims to identify the applied strategies for discretionary fiscal changes–fiscal adjustments and fiscal expansions–for the period 1990-2011 in ex-communist European Union countries. Using data for fiscal adjustments (improvement of the budget balance) and for fiscal expansions (deterioration of the budget balance), there are analysed th...

This paper compares two Balanced Scorecard models, an optimal construction based on a time-managed approach to identify the evolution of the key contributors to the current organization’s strategy and a model based on Kaplan and Norton methodology. Both Balanced Scorecards are generated using financial and non-financial strategic indicators collect...

This paper examines the connection between structural equation modeling and Balanced Scorecard in a Swiss non-profit organization. Using financial and non-financial data taken directly from the establishment, the paper puts forward a rational construction and analysis of Balanced Scorecard by choosing the right indicators for the right strategic pe...

This paper offers a generic and rational construction of Balanced Scorecard. The construction involves implementing a time-managed approach to identify the evolution of the main contributors to the current company’s strategy as well as their behavior in the future organizational performance. After the optimal structure of the model is generated emp...

Our study is aimed to identify the applied strategies for fiscal adjustments for the period 1996-2011 in excommunist countries from European Union - through the increase of public revenues or through the decrease of public expenditures. Depending on the reaction of the real economy, measured by the evolution of economic growth, there are identified...

Purpose The purpose of this paper is to study the impact of an Integrated Financial System implementation on accountant profiles in a Swiss public administration. The authors observe the following variables: accountants' skills, accountants' functions, and accountants' educational backgrounds. Each variable was studied before and after the implemen...

Beyond the models proposed by Modern Portfolio Theory (Markowitz Model, Capital Asset Pricing Model, Treynor-Black Model etc.), the investment portfolios management of integrated capital markets can successfully appeal to statistical tools proposed by Multidimensional Data Analysis (MDA). In our article we turned to these tools in order to study an...

The Economic Value Added (EVA) concept is a registered trademark (1990) of the US firm Stern Stewart & Co. and it is viewed as a measure of financial performance and also as potential main part of an integrated financial management system, leading to decentralized decision making and to maximize the shareholders' wealth. Our paper provides a synopt...

This paper investigates the performance of a global investment strategy that combines diversification and option strategies, in particular the covered call strategy, on the Swiss Exchange over the period 1989-1996. As the return distributions of portfolios including options are possibly non-normal, the mean-variance framework may not be appropriate...

This study investigates the relevance of reported earnings in the context of an institutional environment, i.e., Switzerland, in which investors focus on dividends. In conjunction with a dividend focus, the financial reporting environment faced by Swiss firms provides their managers with more accounting discretion than managers of Anglo-Saxon firms...

Dans cet article, nous analysons un aspect concret de la methode Activity Based Costing (ABC), qui porte sur la problematique du choix des inducteurs de couts et les consequences de ce choix. La methode ABC suggere qu'en plus des variables de volume, la fonction de cout soit egalement determinee par des variables de complexite et d'efficacite. Nous...

Dans cet article nous nous proposons de calculer les prix de revient des produits dans une institution hospitaliere suisse de taille moyenne. Apres un rapide tout d'horizon des produits hospitaliers communement utilises, nous definirons quel est celui qui convient le mieux a l'organisation en question. Nous presenterons ensuite les methodes de cont...

La gestion strategique des resultats peut se definir comme une intervention de la part de la direction d’une firme dans le processus de presentation de l’information financiere en vue d’obtenir un gain au detriment d’autres parties. Des lors, la direction d’une entreprise tentera tout aussi bien d’augmenter le benefice que de le diminuer, la decisi...

Earnings reported by North American firms are conditioned by specific contextual factors that enhance their contractual and value relevances: regulatory oversight by securities commissions, relatively strict accounting and auditing standards, an extensive financial analysis industry and active investors. Such an environment is bound to influence th...

Earnings management can be defined as a purposeful intervention by executives into a firm's financial reporting process in order to secure some gains for themselves, for some firm stakeholders (e.g. investors), or from other firm stakeholders (e.g. debtholders). In this context, a firm's executives may attempt to sway external parties' opinion or d...

Cet article a pour objectif de presenter de d'apporter quelques elements de reflexion sur la methode largement utilisee dans la determination des couts de l'Activity-Based Costing ou ABC, traduite par la comptabilite par activite. Les prinicpes de la methode seront ainsi presentes et une application dans le secteur industriel automobile largement d...

This paper investigates the performance of a global investment strategy that combines diversification and option strategies, in particular the covered call strategy, on the Swiss Exchange over the period 1989–96. As the return distributions of portfolios including options are possibly non-normal, the mean-variance framework may not be appropriate t...

RÉSUMÉ L’objet de la présente recherche est de quantifier l’incidence sur la valeur d’une entreprise de la prise en compte, par les investisseurs, de son bilan environnemental. Il est présumé qu’un coût implicite est imposé à chaque entreprise par les marchés boursiers selon la qualité de son bilan environnemental. Ce coût implicite n’apparaît pas...

L'objet de la presente recherche est de qualifier l'incidence sur la valeur d'une entreprise de la prise en compte, par les investisseurs de son bilan environnemental.

L'objet de ce travail est de proposer une approche de calcul des couts par groupe de patents dans le cadre d'une activite hospitaliere qui tente de contourner le probleme des methodes classiques pose par l'introduction de cles arbitraires de repartition des charges indirectes. Le modele sera applique a la categorie des patients de court sejour regr...

A central tenet of audited financial statements is the assumption that the reporting firm will remain in business for the foreseeable future, that is, it is a going concern. However, recent years have seen a wave of highly visible corporate failures that have greatly reduced investors' confidence in auditors' work. This paper develops a tool to eva...

This paper investigates the relation between the market valuation of publicly-listed corporations and their social performance, as measured by their pollution record relative to environmental regulations. Expectations are that corporations with a good (bad) environmental record should be valued at a premium (discount) by the stock market. Such a re...

This paper examines the usefulness of current cost data in respect of two user groups, managers and financial analysts. The opinions expressed by managers concerning accounting procedures (specifically those concerning current cost information) are examined first. Next, the ways in which financial analysts might use this type of information are con...

We propose a simple model of advertising media selection taking into account the uncertainty of the audiences reached effectively. The model is based upon the mean-variance point of view but the formulation differs from the now classical model used in portfolio theory.Here the goal is to minimize the variability of the total desirable audience. A p...

This paper studies the relationship between structural equation modeling and Balanced Scorecard in a Swiss non-profit establishment. Using financial and non-financial performance indicators collected directly from the organization, the paper proposes a rational construction and analysis of Balanced Scorecard by selecting the factual metrics for the...