How to use Lire le Capital

Abstract

This article contributes to a pragmatist analysis of pricing and valuation through an account of the production of closing prices at the Paris Bourse. The Paris Bourse is an electronic stock exchange and the actors in charge of its technological configuration often need to face concerns about the quality of the prices that the configuration produces. Closing prices are particularly important because they constitute references that circulate widely. The author analyses how a problem of representativeness of closing prices was raised in the late 1990s and how several techniques aimed at solving it. In order to deal with this problem of representativeness, the author proposes the consideration of prices as signs in a pragmatist manner. Adapting Charles S. Peirce's theory of the sign to the study of prices, the author concentrates attention on the material display of prices, on their capacity to stand as traces of some event, and on the way they may suit a set of calculative conventions.     

Male and Female Suicide Bombers: Different Sexes,Different Reasons?

This article analyzes the motivations and recruitment of female suicide terrorists. Biographical accounts of 30 female and 30 male suicide terrorists were coded for method of recruitment, motivation for attack, and outcome of attack. A log-linear analysis found that female suicide terrorists were motivated more by Personal events, whereas males were motivated more by Religious/nationalistic factors. Females were equally likely as males to be recruited through peer influence, exploitation, or self promotion, whereas males were more likely to be recruited as a result of religious persuasion. The results highlight the need for continued research into female terrorism.     

Share repurchase regulations: Do firms play by the rules?

Open market share repurchases are strictly regulated to prevent managers from taking advantage of selling shareholders. We examine compliance with these rules in France, where the mandatory disclosure of share repurchases provides detailed information on repurchases actually undertaken. Using a database containing 36,848 repurchases made by 352 French firms over the period 2000–2002, we show that very few firms fully comply with the regulations for all their buybacks. We document that illegal repurchases before earnings announcements are the most detrimental to selling shareholders.     

Natural Resource Damages for Climate Change—An Idea Whose Time Is Not Yet Come,Part II: Climate Change NRD Claims—Get Coverage

Climate change litigation is in its infancy. As it matures, one type of suit that may emerge is a climate change-based natural resource damages (NRD) claim under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). While it is unlikely that climate change-based NRD claims could succeed under current law, a policyholder sued for such claims should be entitled to a defense under its liability insurance policies. Against the backdrop of some recent climate change lawsuits, this article anticipates insurance industry arguments against coverage for climate change NRD claims, and examines counter arguments in favor of coverage for such claims.     

Consumer Society Is the Enemy

Anyone within range of Western television during the 1960s to the 1980s was likely a fan of Jacques Cousteau's famous "underwater adventures" launched from the Calypso research vessel, which roamed the seven seas.
Not surprisingly, as an explorer immersed in the natural environment, Cousteau became a radical ecologist in his later life as the costs of industrialization and consumerism began to take their toll. In the summer of 1996 I sat down with the famed oceanographer at the Paris offices of the Cousteau Society.