The African Chair of Innovation and Sustainable Management

CAIMD

Founded in 2020 by its first holder, Bouchra M'Zali, the African Chair of Innovation and Sustainable Management (CAIMD) is located at Mohamed VI University, Polytechnic. It is also linked to various international institutions including the School of Management Sciences of the University of Quebec in Montreal (ESG-UQAM). Its members study and develop emerging business models that integrate environmental issues, including climate and biodiversity, governance issues and socio-economic issues including gender equality and equity between groups. To this end, the Chair brings together researchers and practitioners from different countries and constitutes a dynamic and recognized community of theoretical and applied research.

The Chair also promotes the training of students and young researchers through teaching activities and research and observation internships. Finally, the Chair promotes the mobilization and dissemination of knowledge through symposia and events that bring together academia and industry, as well as national and international institutions and organizations. Various forms of publications will regularly highlight advances in knowledge and practices regarding the evolution and development of business models that integrate emerging societal issues.

Environmental crisis (Exxon-Valdez off the coast of Alaska, 1989; Total Erika off the coast of Brittany, 1999; BP Deepwater Horizon in the Gulf of Mexico, 2010), and social crisis (Union Carbide in Bhopal, 1989; Rana Plaza in Dhaka, 2014), have undermined the classic business model (Friedman, 1970), which takes into account only one stakeholder: shareholders whose wealth must be maximized. Indeed, this model led to a short-term management that, as disasters unfolded, reached its limits. For several decades, several voices have been raised to question this model and to call for the consideration of social, environmental and governance (ESG) issues in various investment and financing decisions. Many national and international organizations, corporations and institutional investors have massively negotiated this shift by adopting social and environmental responsibility policies. The pandemic has reinforced this awareness, making the integration of ESG criteria in all decision-making processes a necessity. With the help of various tools developed over the last few decades (United Nations Principles for Responsible Investment, the Sustainable Development Goals, the Global Reproductive Initiative, etc.), taking these issues into consideration has become an urgent priority for many companies. Involved for several decades in sustainable management research, the members of the Chair work with various stakeholders to develop and implement new management and investment models. Aiming to create a virtuous synergy, the members advocate close collaboration with various stakeholders in order to build, implement and teach new management models.

The mission of the Chair is to build a collaboration between researchers and practitioners from diverse backgrounds. Its goal is to bring out new management models aligned with the objectives of sustainable development. It will host established and developing researchers and partner them with practitioners from the management, finance and policy communities from various countries. Priority research areas will include climate issues, social issues and governance issues related to the management of organizations.

Sustainable Finance and Climate Change

Climate change amplifies not only natural risks (e.g. drought, floods, storms, etc.) but also financial risks (e.g. instability of the financial system). Sustainable finance can play an important role in the fight against the negative impacts of climate change. In this respect, the development of low carbon indices increasingly allows researchers to compare the performance of such indices with the performance of other traditional benchmarks. We believe that the study of the financial performance of low-carbon indices can play an important role in reallocating capital to low-carbon companies and thus enable a smooth transition to a low-carbon economy. On the other hand, the integration of climate-related risks into financial regulation is also a very interesting research avenue. In this regard, it would be important to examine whether prudential standards or capital requirements based on sustainable finance can reduce climate change risks. For example, it would be relevant to know the impact of regulations that allow banks to set aside less capital when financing low-carbon companies. Thus, there will be two kinds of capital requirements. The less stringent ones related to low-carbon bank loans and the more stringent ones related to high-carbon bank loans.

Sustainable Finance and Impact Finance: (Impact Investing):

This is a strategy that seeks a balance between social impact (environmental, social, cultural, gender, etc.) and financial benefits. We have worked on this issue from a multi-criteria perspective to establish investment strategies in vaccination campaigns in third world countries, sustainable tourism and actions that attempt to reduce gender inequality.

Sustainable Finance and Performance Measures and Indicators:

We build synthetic indicators based on ambiguous logic and multi-criteria decision. This makes them flexible enough to be used in actions aimed at equal opportunities in education, culture and support for minorities.

2021

• Filbien, J-Y; Dupire, M, M’zali, B. (2021): «NGO Tweets: Do Shareholders Care?», accepté pour publication dans Business & Society.

• Hmaittane, A., Mnasri, M. Bouslah, K., M’Zali, B., 2021. «Social capital and cost of bank loans during the financial crisis. », Management International, Volume 25, forthcoming.

• Marhfor, A., Bouslah K., M’Zali B. (2020). «Corporate social responsibility and executive compensation: the negative externality perspective». Accepté pour publication au Journal of Finance and Risk Perspectives.

• Marhfor, A., Bouslah K., M’Zali B., Ghilal, R. (2020). «Corporate social responsibility and stock price informativeness: the public interest perspective». Accepté pour publication au Canadian Journal of Administrative Sciences.

• Marcos Ortega-Momtequín, Fernando Rubiera-Morollón y Blanca Pérez-Gladish (2021): «Ranking residential locations based on neighborhood sustainability and family profile», International Journal of Sustainable Development & World Ecology, 28, 49-63, DOI: 10.1080/13504509.2020.1778581.

• Nach,H., Ghilal, R. et Salampasis, D. (2021): «Fintech Review : A Scoping ResearchBook “ Chapter in “Transformation Dynamics in FinTech: And Open Innovation Ecosystem Outlook” By Anne-Laure Mention.

2020

• Hmaittane, A., M’Zali, B., Mnasri, M., Ghilal, R., 2020. «The Impact of Corporate Social Responsibility on Oil and Gas Firms’ Access to Finance». Journal of Accounting and Finance, 20(1). https://doi.org/10.33423/jaf.v20i1.2741

• Marhfor, A., Bouslah K., M’Zali B. (2020). «Corporate social responsibility and executive compensation: the negative externality perspective». Journal of Finance and Risk Perspectives. Vol 9. P.15-31.

• Abedifar, P., Bouslah, K. & Zheng, Y. 2020. «Stock price synchronicity and price informativeness: evidence from a regulatory change in the U.S. banking industry». Finance Research Letters. https://doi.org/10.1016/j.frl.2020.101678

• Abedifar, P., Bouslah, K., Hashem, S. & Song, L. (2020): «How informative are stock prices of Islamic banks? ». Journal of International Financial Markets, Institutions & Money. https://doi.org/10.1016/j.intfin.2020.101203

• Marhfor, A., Bouslah, K., M’Zali, B. & Ghilal. R. (2020): «Corporate social responsibility and stock price informativeness: the public interest perspective Canadian». Journal of Administrative Sciences. https://doi.org/10.1002/cjas.1576

• Marhfor, A., Bouslah, K. & M’Zali, B. (2020): «Corporate social responsibility and executive compensation: the negative externality perspective ACRN». Journal of Finance and Risk Perspectives. 9, 15-31.

• Hervieux, C., and M. McKee (2021, accepted proposal). «Power, disadvantage and social impact measurement», in Hazenberg, R. and C. Paterson-Young (eds) (2021) Social Impact Measurement for a Sustainable Future: The Power of Aesthetics and Practical Implications, Macmillian.

• Vicente Liern y Blanca Pérez-Gladish (2020): «Multiple criteria ranking method based on functional proximity index: un-weighted TOPSIS». Annals of Operations Research, 2020-07-23. DOI: 10.1007/s10479-020-03718-1

• José Manuel Cabello, Blanca Pérez Gladish y Francisco Ruiz (2020): «An alternative process for building composite indexes: an application to the Heritage Foundation Index of Economic Freedom». Social Indicators Research (available online).

• Vicente Liern, Sandra Parada-Rico, Olga Blasco-Blasco (2020): «Construction of Quality Indicators Based on Pre-Established Goals: Application to a Colombian Public University». Mathematics 8 (7), 1075. DOI:10.3390/math8071075.

• Rafael Benítez y Vicente Liern (2020): «Unweighted TOPSIS: a new multi-criteria tool for sustainability analysis». International Journal of Sustainable Development & World Ecology, 1-13 (Published online: 18 Jun 2020, DOI: 10.1080/13504509 .2020.1778583.

• Aslam F., Muhammad Y.T., Aziz S. and Ouenniche J. (2020): «A complex networks based analysis of jump risk in equity returns: An evidence using intraday movements from Pakistan stock market». Journal of Behavioral and Experimental Finance, 28, 100418.

• Loynes C., Ouenniche J. and De Smedt J. (2020): «The Detection and Location Estimation of Disasters Using Twitter and the Identification of Non-Governmental Organisations Using Crowdsourcing». Annals of Operations Research, (in press)

2019

• Hervieux, C., and A. Voltan (2019). «Toward a systems approach to social impact assessment». Social Enterprise Journal, 15 (2), 264-286.

• Ouenniche, J., Bouslah, K., Pérez-Gladish, B. & Xu, B. 2019. «A new VIKOR-based in-sample-out-of-sample classifier with application in bankruptcy prediction». Annals of Operations Research. https://doi.org/10.1007/s10479-019-03223-0.

• Maite León, Vicente Liern y Blanca Pérez Gladish (2019): «A multicriteria assessment model for countries’ degree of preparedness for successful impact investing». Management Decision, 2019-12-18, DOI: 10.1108/MD-09-2019-1138.

• Mousavi M.M., Ouenniche J. and Tone K. (2019): «A Comparative Analysis of Two-Stage Distress Prediction Models». Expert Systems with Applications, 119, 322-341.

• Xu B., Kolosz BW, Andresen JM, Ouenniche J., Greening P, Chang TS., and Maroto-Valer MM. (2019): «Performance Evaluation of Alternative Jet Fuels using a hybrid MCDA method». Energy Procedia, 158, 1110-1115.

• Hmaittane, A., Bouslah, K., M’Zali, B. 2019. «Does corporate social responsibility affect the cost of equity in controversial industry sectors? ». Review of Accounting and Finance, 18, 635-662. https://doi.org/10.1108/RAF-09-2018-0184

• Hmaittane, A., Ghilal, R., Ouedraogo, S., 2019. «Does corporate social responsibility affect firm’s investor base? ». Revue Économie, Gestion et Société, 19, 1. ISSN: 2458-6250.

• El Hammaoui, A., Hmaittane, A., 2019. «Retard de paiement en droit musulman : Etude comparative avec le droit malaisien et le droit européen». International Review of Entrepreneurial Finance, 2,1, 96-123. ISSN: 2605-7441.

• Echchakoui, S., Ghilal, R. (2019): «How salesperson’s perceived attributes can be used by sales managers to monitor and motivate sales force in relationship marketing?». European Research on Management and Business Economics.

• Danlu Bu, Shalchian H., Rong Huang and Fang Hu (2019): «Government subsidy, corporate pay-gap and firm’s financial performance: Evidence from China». Accounting and Finance Research, 2019, 8 (3), 86-102.

2018

• Hervieux, C., and A. Voltan (2018). «Framing social problems in social entrepreneurship». Journal of Business Ethics. Vol 152(2), pages 279-293.

• Ouenniche, J., Bouslah, K., Cabello, J. M. & Ruiz, F. 2018. «A new classifier based on the reference point method with application in bankruptcy prediction».

Journal of the Operational Research Society. 69, 1653-1660.

• Ouenniche J., Pérez-Gladish B. and Bouslah B. (2018): «An Out-of-Sample Framework for TOPSIS-based Classifiers with Application in Bankruptcy Prediction». Technological Forecasting and Social Change, 131, 111-116.

• Bouslah, K., Liñares-Zegarra, J., M'Zali, B. & Scholtens, B. 2018: «CEO risk-taking incentives and socially irresponsible activities». British Accounting Review. 50, 76-92.

• Bouslah, K., Kryzanowski, L. & M'Zali, B. 2018. «Social performance and firm risk: impact of the financial crisis». Journal of Business Ethics. 149, 643–669.

• Shalchian, H.; M’Zali, B. and Tebini, H. (2018): «A multi-dimensional analysis of corporate social responsibility: The liquidity risk factor». Journal of Financial Risk Management, Vol. 7 No. 2, June 2018.

• Dupire, M., M’Zali, B., « CSR Strategies in Response to Competitive Pressures». Journal of Business Ethics, March 2018, volume 148, Issue 3, pp. 148-1-21.

• Bouslah, K., Liñares-Zegarra, J. M., Mzali, B., Scholtens, B. (2018): «CEO risk-taking incentives and socially irresponsible activities». The British Accounting Review, Volume 50, Issue 1, January 2018.

• Tebini, H., Langevin, M. et M’Zali, B. (2018). « L’Investissement Socialement Responsable», chapitre 6, pages 405-423, dans Responsabilité sociétale de l’organisation : exercices, cas et fondements, Presses de l’Université du Québec. Sous la direction de M.-F. Turcotte.

• Tebini, H., M’zali, B. et Shalchian, H. (2018) : «L’investissement Socialement Responsable : un Levier Prometteur de l’Engagement Actionnarial », Chapitre 1.4, pages 77-100, dans Éléments de la finance responsable: une perspective multidimensionnelle, Éditions Yvon Blais, division de Thomson Reuters. Sous la direction de Coggins, F., Champagne, C., et Latulippe, L.

• Acuña-Soto, C. M., Liern, V., Pérez-Gladish, B. (2018): «Multiple Criteria performance evaluation of YouTube mathematical educational videos by IS-TOPSIS». Operational Research - An International Journal (DOI: 10.1007/s12351-018-0405-2).

• Aouni, B., Doumpos, M., Pérez-Gladish, B., Steuer, R. (2018): «On the increasing importance of Multiple Criteria Decision Aid methods for portfolio selection». Journal of the Operational Research Society, (Operations Research & Management Science). Q3 (ISI).

• Ferreira, F.A., Esperança, J.P., Xavier, M.A.S., Costa, R.L., Pérez Gladish, B. (2018): «A Socio-Technical Approach to the Evaluation of Social Credit Applications». Journal of the Operational Research Society, available online. JCR (2016): 1.077, Ranking (2016): 55/83 (Operations Research & Management Science). Q3 (ISI).

• Acuña-Soto, C. M., Liern, V., Pérez-Gladish, B. (2018): «Normalization in TOPSIS based approaches with non-compensatory criteria: application to the ranking of mathematical videos». Annals of Operations Research.

• Acuña-Soto, C. M., Liern, V., Pérez-Gladish, B. (2018): «A VIKOR-based approach for the ranking of mathematical instructional videos». Management Decision.

• Parada-Rico, S. E., Blasco-Blasco, O., Liern, V., (2018): «Adequacy indicators based on pre-established goals. An implementation in a Colombian university». Social Indicators Research.

• Liern, V., Pérez-Gladish, B. (2018): «Ranking corporate sustainability: a flexible multidimensional approach based on linguistic variables». International Transactions in Operational Research, 25(3), pp. 1081-1100.

• Acuña-Soto, C. M., Liern, V. (2018): «Los videotutoriales de matemáticas en los procesos educativos: equilibrio entre eficacia puntual y utilidad formativa». Revista Latinoamericana de Investigación en Matemática Educativa.

• Liern, V., Pérez-Gladish, B. (2018): «Fuzzy degree of geographic appropriateness for social impact investing». Studies in Fuzziness and Soft Computing, 358, pp. 163-178.

• Liern, V., Pérez-Gladish, B. (2018): «Companies’ selection methods for inclusion in sustainable indices: A fuzzy approach». Studies in Systems, Decision and Control, 125, pp. 365-380.

• Calvo, C., Ivorra, C., Liern, V. (2018): «Fuzzy portfolio selection models for dealing with investor’s preferences». Studies in Fuzziness and Soft Computing, 360, pp. 119-136.

• Ouenniche J., Uvalle O. and Ettouhami A. (2018) : «A New Classifier based on EDAS with Application in Distress and Bankruptcy Prediction». Management Decision, 57(2), 314-323.

• Mousavi M.M. and Ouenniche J. (2018): «Multi-Criteria Ranking of Corporate Distress Prediction Models: An Orientation-Free Context-dependent DEA-based Framework». Annals of Operations Research, 271(2), 853-886.

• Ouenniche J. and Carrales S. (2018) : «Assessing Efficiency Profiles of UK Commercial Banks: A DEA Analysis with Regression-based Feedback». Annals of Operations Research, 266, 551–587.

• Ouenniche J., Bouslah B., Cabello J.M. and Ruiz F. (2018) : «A New Classifier based on The Reference Point Method with Application in Bankruptcy Prediction». Journal of the Operational Research Society, 1-8.

• Echchakoui, S. et Ghilal, R. (2018): «How firm’s profitability is analyzed in relationship marketing». Journal of International Business and Economy (2018) 19 (1)

• Ghilal, R. et Nach, H. (2018) : «La technologie de la chaine de blocs : Fondements et applications». Dans Les reconfigurations de l’échange marchand, Chapitre de livre. Contribution à ouvrage collectif, Ed. Myriam Ertz, Damien Hallegatte et Julien Bousque. Presse de l’université du Québec, PUQ.

2017

• Aziz, S., Lilti, J.J. and El Badraoui, K. (2008): «Bank Acquisitiveness and Bailouts: Evidence on European Banks during the 2008 Financial Crisis». Bankers, Markets and Investors, Juillet-Août 2017.

• Hervieux, C.; McKee, M.; and Driscoll, C. (2017): «Room for improvement: Using GRI principles to explore potential for advancing PRME SIP reporting». The International Journal of Management Education.

• Voltan, A.; Hervieux, C. and Mills, A. (2017): «Examining the win‐win proposition of shared value across contexts: Implications and future application». Special Issue in Business Ethics: A European Review.

• Hervieux, C., et M’Zali, B. (2017) : «Perspectives théoriques et conceptuelles sur la RSE», dans M’Zali, Bouchra et Hervieux Chantal et Mhamdi Mohamed (eds) (2017). Un regard croisé d’experts et chercheurs sur la RSE. D’un contexte global au contexte de pays émergents. JFD éditions, Canada, 329 pages.

• Hervieux, C., et M’Zali, B. (2017) : «La RSE au Maroc et en Tunisie», dans M’Zali, Bouchra et Hervieux Chantal et Mhamdi Mohamed (eds) (2017). Un regard croisé d’experts et chercheurs sur la RSE. D’un contexte global au contexte de pays émergents. JFD éditions, Canada, 329 pages.

• Hervieux, C., et B. M’Zali (2017) : «RSE dans un contexte plus large». dans M’Zali, Bouchra et Hervieux Chantal et Mhamdi Mohamed (eds) (2017). Un regard croisé d’experts et chercheurs sur la RSE. D’un contexte global au contexte de pays émergents. JFD éditions, Canada, 329 pages.

• Turcotte, M-F.; Hervieux, C.; Caron M-A.; Clermont, E. et Allard, M-C. (Aut. 2017) : «Fondaction-entrepreneur institutionnel dans le domaine de la finance responsable», dans Benoît Lévesque et Michel Rioux (Dir.), Fondaction, une institution financière pleinement engagé dans la finance socialement responsable, Québec, Presses de l'Université du Québec (Coll. Innovation sociale).

• M’Zali, Bouchra et Hervieux Chantal et Mhamdi Mohammad (eds) (2017). «Un regard croisé d’experts et chercheurs sur la RSE. D’un contexte global au contexte de pays émergents». JFD éditions, 329 pages.

• Macena, J.C, Marhfor, A., Durand, S. (2017). «Business model and firm financial performance: evidence from the Canadian mining sector». Journal of Finance and Risk Perspectives. Vol 6. P.89-106.

• Liern, V., Pérez-Gladish, B. (2017): «Fuzzy Degree of Geographic Appropriateness for Social Impact Investing», In: Soft Computing for Sustainability Science (Cruz, C. ed.), Studies in Fuzziness and Soft Computing Series, Editorial Springer (en prensa), ISSN 1434-9922, Q4 (Scimago, Scopus)

• Liern, V., Pérez-Gladish, B., M’Zali, B. (2017): «Inversiones de impacto: una forma de avanzar en la responsabilidad social». In: Responsabilidad Social Empresarial (Raufflet E.B. Lozano, J.M. y otros eds), Editorial Pearson. (en prensa), ISBN 978-607-32-0940-3 (2ª edición).

• Ouenniche, J., Pérez-Gladish, B., Bouslah, K. (2017): «An Out-of-Sample Framework for TOPSIS-based Classifiers with Application in Bankruptcy Prediction». Technological Forecasting and Social Change (disponible online). DOI: 10.1016/j.techfore.2017.05.034. JCR (2016): 2.625, Ranking (2016): 6/55 (Planning & Development). Q1 (ISI).

• Cabello, J.M., Ruiz, F., Pérez-Gladish B. (2017): «Building Ease-of-Doing-Business synthetic indicators using a double reference point approach». Technological Forecasting and Social Change. JCR (2016): 2.625, Ranking (2016): 6/55 (Planning & Development). Q1 (ISI).

• Aouni, B., Doumpos, M., Steuer, R., Pérez-Gladish, B. (2017): «Multi-Criteria Decision Aid for Securities’ Portfolio Selection and Management: A State-Of-The Art». Journal of the Operational Research Society. JCR (2016): 1.077, Ranking (2016): 55/83 (Operations Research & Management Science). Q3 (ISI).

• Liern, V., Pérez Gladish, B. (2017): «Companies’ Selection Methods for Inclusion in Sustainable Indices: A Fuzzy Approach». In: Complex Systems: Solutions And Challenges In Economics, Management And Engineering Subtitle: Dedicated To Professor Jaume Gil Aluja (Christian Berger-Vachon, Ana María Gil Lafuente, Janusz Kacprzyk, Yuriy Kondratenko, José M. Merigo Lindahl, Carlo Morabito, Eds), En prensa,, Springer (Studies In Fuzziness And Soft Computing Series) ISBN: 2198-4182.

• Ouenniche, J., Bing, X., Pérez Gladish, B. (2017): «A DSS For Designing a MCDM Study with Application in Performance Evaluation of Forecasting Models». In: Financial Decision Aid Using Multiple Criteria Models (Zopounidis, Masri, Pérez-Gladish, Eds) , Springer, ISBN: 978-3-319-68876-3.

• Martínez, B., Liern, V. (2017): «A Fuzzy-Clustering Based Approach for Measuring Similarity Between Melodies, Mathematics and Computation in Music». Eds.: Agustín-Aquino, O., Lluis-Puebla, E., Montiel, M., Springer-Verlag.

• Parada-Rico, S. E., Blasco-Blasco, O., Liern, V. (2017): «Construcción de indicadores basada en medidas de similitud con ideales. Una aplicación al cálculo de índices de adecuación y excelencia». Rect@, DOI:10.24309/recta. 2017.18.2.03.

• Calvo, C., Ivorra, C., Liern, V. (2017): «Controlling Risk through Diversification in Portfolio Selection with non-historical Information». Journal of the Operational Research Society, DOI: 10.1057/s41274-017-0195-6.

• Pérez, F., Caballero, R., Gómez, T., Liern, V. (2017): «Project portfolio selection and planning with fuzzy constraints». Technological Forecasting and Social Change https://doi.org/10.1016/j.techfore.2017.07.012.

• Liern, V., Pérez-Gladish, B. (2017): «Ranking corporate sustainability: a flexible multidimensional approach based on linguistic variables». International Transactions in Operational Research, DOI: 10.1111/itor.12469.

• Plá, L., Casasús, C., Liern, V., Pérez, J.C. (2017): «On the importance of perspective and flexibility for efficiency measurement: Effects on the ranking of Decision Making Units». Journal of the Operational Research Society, DOI: 10.105710.1057/s41274-017-0250-3.

• Acuña, C.; Hernández, E.; Liern, V. (2017): «Metáforas conceptuales de las relaciones lineales que manejan los estudiantes de economía». UNION-Revista Iberoamericana de Educación Matemática, 50, pp. 29-40.

• Ouenniche J. and Tone K. (2017): «An Out-of-Sample Evaluation Framework for DEA with Application in Bankruptcy Prediction». Annals of Operations Research, 254(1-2), 235-250.

• Ouenniche J., Ramaswamy P. K. and Gendreau M. (2017): «A Dual Local Search Algorithm for The Traveling Salesman Problem». Journal of The Operational Research Society, 68(11), 1377-1398.

• Ouenniche J., Carrales S. Fukuyama H. and Tone K. (2017): «An Account of DEA-based Contributions in The Banking Sector». In Advances in DEA Theory and Applications: with Examples in Forecasting Models, Kaoru Tone (Editor), Wiley Series in Operations Research and Management Science, ISBN: 978-1-118-94562-9.

• Tone K. and Ouenniche J. (2017): «DEA Score's Confidential Intervals with Past-Present and Past-Present-Future based Resampling». In Advances in DEA Theory and Applications: with Examples in Forecasting Models, Kaoru Tone (Editor), Wiley Series in Operations Research and Management Science, ISBN: 978-1-118-94562-9.

• Ouenniche J., Mousavi M. M., Xu B. and Tone K. (2017): «Ranking of Bankruptcy Prediction Models under Multiple Criteria». In Advances in DEA Theory and Applications: with Examples in Forecasting Models, Kaoru Tone (Editor), Wiley Series in Operations Research and Management Science, ISBN: 978-1-118-94562-9.

• Ouenniche J., Xu B. and Tone K. (2017): «DEA in Performance Evaluation of Crude Oil Prediction Models». In Advances in DEA Theory and Applications: with Examples in Forecasting Models, Kaoru Tone (Editor), Wiley Series in Operations Research and Management Science, ISBN: 978-1-118-94562-9.

• Ouenniche J., Xu B. and Perez-Gladish B. (2017): «A DSS for Designing An MCDA Study with Application in The Performance Evaluation of Forecasting Models». In Financial Decision Aid using Multiple Criteria – Recent Models and Applications, H. Masri, B. Pérez-Gladish, C. Zopounidis (Eds.), Springer Series in Multiple Criteria Decision Making, ISBN 978-3-319-68876-3.

• Danlu Bu and Shalchian H. (2017): «Risk-based performance, nature of property and executive’s steady compensation: Evidence from Chinese corporations». Accounting and Finance Research, 2017, 6 (1), 57-67.

2016

• Hervieux, C. (2016): «A comment to Gobo: The next challenge: from mixed to merged methods». Qualitative Research in Organizations and Management.

• Hervieux, C. Fallu, J-M et M-F Turcotte. (2016): «Les organisations hybrids». Canadian Journal of Nonprofit and Social Economy Research, Vol. 7(1), pages 5-21.

• Blais, M-H, M’Zali, B., Marhfor, A. (2016) : « L’impact financier de l’adoption des codes de conduite dans l’industrie du textile et du vêtement». Revue Internationale de Management, entreprenariat et Communication. Université Internationale d’Agadir, Vol 1.

• Dupire, M., M’Zali, B., « CSR Strategies in Response to Competitive Pressures». Journal of Business Ethics, 2016, 1-21.

• Bouslah, K., Kryzanowski, L. et M’zali, B. (2016) «Social Performance and Firm Risk: Impact of the Financial Crisis». Journal of Business Ethics, February 2016, pp. 1-27.

• Ouenniche, A., Ouenniche, J., Mzali, B. et Perez-Gladish, B., (2016): « A Portfolio Analysis Approach to Assist Socially Responsible Investors Making Decisions». International Journal of Operational Research, Volume 27, Issue 3, published by Inderscience Publishers, DOI: 10.1504/IJOR.2016.078940.

• Coll, V.; Baeza, I.; M’Zali, B.; Méndez-Rodríguez, P. (2016) : « Assessing the efficiency of socially responsible and conventional mutual funds: A fuzzy DEA application». Journal of Risk, Print ISSN 1465-1211jOnline ISSN 1755-2842 Copyright © 2016 Incisive Risk Information (IP) Limited

• Tebini, H., M’Zali, B., Lang, P., Perez-Gladish, B. et Mendez-Rodriguez, P. (2015). « Social Performance and Financial Performance: A Controversial Relationship », Chapitre 3, pages 53–73, dans Socially Responsible Investment : A Multi-Criteria Decision Making Approach, New York : Springer. Sous la direction de Ballestro, E., Garcià-Bernabeu, A., et Pérez Gladish, B.

• Lamata, M.T., Liern, V., Pérez-Gladish, B. (2016): «Doing good by doing well: a MCDM framework for evaluating corporate social responsibility attractiveness». Annals of Operations Research, DOI 10.1007/s10479-016-2271-8 (disponible online). JCR (2016): 1.709, Ranking (2016): 33/83 (Operations Research & Management Science). Q2 (ISI).

• Calvo, C., Ivorra, C., Liern, V. (2016): «Fuzzy portfolio selection with non-financial goals: Exploring the efficient frontier». Annals of Operations Research, 245, pp. 31-46.

• Calvo, C., Ivorra, C., Liern, V. (2016): Fuzzy portfolio selection including cardinality constraints and integer conditions». Journal of Optimization Theory and Applications, 170, pp. 343-355.

• Conde, A., Parada, S. E., Liern, V. (2016): «Estudio de fracciones en contextos sonoros». Actualidades Investigativas en Educación, 12 (2), pp. 1-12.

• Liern, V., Pérez-Gladish, B., M’Zali, B. (2016): «Soft computing techniques for portfolio selection: Combining SRI with mean-variance goals». Responsabilidad Social Empresarial, Eds.: E. Raufflet, C. García de la Torre, J. F. Lozano, E. Barrera, Pearson, 219, pp. 283-300, ISBN: 978-6-073-20940-3.

• Liern, V., Pérez-Gladish, B. (2016): «Companies’ selection methods for inclusion in sustainable indices: a fuzzy approach». Complex economic systems: issues, challenges and solutions, Eds.: Christian Berger-Vachon, C., Kacprzyk, J., Kondratenko, Y., Merigo Lindahl, J. M., Morabito, C., Redondo López, A. Springer-Verlag, Heidelberg.

• Liern, V., Pérez-Gladish, B. (2016): «Measuring geographical appropriateness for impact investing». Soft Computing for Sustainability Science, Eds.: Carlos Cruz-Corona, D. Pelta. Springer-Verlag, Heidelberg.

• Liern, V., Pérez-Gladish, B., Méndez, P. (2016): «Measuring social responsibility: A multicriteria approach». Multiple Criteria Decision Making, doi: 10.1007/978-3-319-39292-9_2, Eds.: Zopounidis, Doumpos, Springer-Verlag, Heidelberg.

• Tebini, H.; M’Zali, B.; Lang, P.; Perez-Gladish, B. (2016): «The Economic Impact of Environmental Responsibility». Corporate Social Responsibility And Environmental, 23(5), 333-344. DOI: 10.1002/csr.1383, JCR (2016): 2.852, Ranking (2016): 19/105 (Environmental Studies); 39/121 (Business); 49/194 (Management). Q1 (ISI).

• Petrillo, A.; De Felice, F.; García-Melon, M.; Pérez Gladish, B. (2016): «Investing In Socially Responsible Mutual Funds: Proposal of Non-Financial Ranking In Italian Market». Research In International Business And Finance, 37, 541-555.

• Ouenniche, A.; Ouenniche, J.; M’zali, B.; Perez-Gladish, B. (2016): «A Portfolio Analysis Approach To Assist Socially Responsible Investors In Making Decisions». International Journal of Operational Research, IJOR, 27(3), 469-501.

• García-Melón, M.; Pérez-Gladish, B.; Gómez, T.; Mendez-Rodriguez, P. (2016): «A Ranking Of Socially Responsible Mutual Funds For Passive Investors: Stakeholders And Criteria Weighting Using An AHP Approach». Annals of Operations Research, 244(2), 475-503. JCR (2016): 1.709, Ranking (2016): 33/83 (Operations Research & Management Science). Q2 (ISI).

• Samman R. A. and Ouenniche J. (2016): «Continuous Quality Improvement Programs – PART I: Survey, Critical Analysis and Future Research Directions». The Journal of Developing Areas, 50(4), 39-66.

• Xu B., Nayak A., Gray D. and Ouenniche J. (2016): «An Integrated Multi-Criteria Decision Analysis Methodology for Assessing Energy Showcases Implemented in The North Sea Region». Applied Energy, 172, 360-371.

• Ouenniche J., Boukouras A. and Rajabi M. (2016): «An Ordinal Game Theory Approach to Public-Private Partnership Projects». Journal of Optimization Theory and Applications, 169 (1), 314-343.

• Tone K. and Ouenniche J. (2016): «DEA Scores’ Confidence Intervals with Past-Present and Past-Present-Future based Resampling». American Journal of Operations Research, 6, 121-135.

2015

• Marhfor, A., M’Zali, B., Cosset, J-C. (2015). «Financing constraints: the influence of political and legal institutions». Journal of Finance and Risk Perspectives. Vol 4. P.1-20.

• Marhfor, A., M’Zali, B., Cosset, J-C., Charest, G. (2015). «Financing constraints and US cross-listing» Canadian Journal of Administrative sciences. Vol 31, p.160-174.

• Shalchian, H., Bouslah, K. & M’Zali, B. (2015): «A multi-dimensional analysis of corporate social responsibility: different signals in different industries». Journal of Financial Risk Management. 4, 90-107

• Logossa, K; Hervieux, C et M’Zali, B. (eds) (2015) : «La responsabilité sociale des entreprises: pratiques et impacts». PUAG.

• Bouslah, K. (2015): «Responsible investment in Tunisia». The Routledge Handbook of Responsible Investment. Routledge, p. 125-137.

• Shalchian, H.; Bouslah, K. and M’Zali, B. (2015) : «A multi-dimensional analysis of corporate social responsibility: Different signals in different industries». Journal of Financial Risk Management, 4 (2), pp. 92-109.

• Marhfor, A., M’Zali, B., Cosset, J-C., (2015): «Financing constraints: the influence of political and legal institutions». Journal of Finance and Risk Perspectives. Vol 4. pp. 1-20.

• Marhfor, A., Ghilal, R. et Mzali, B., (2015): «The Monitoring Role of Financial Analysts: An International Evidence», American Journal of Industrial and Business Management 01/2015; 05(05): DOI:10.4236/ajibm.2015.55027, pp. 258-263.

• Marhfor, A., Ghilal, R. et Mzali, B., (2015): «Investment Sensitivity to Stock Prices and Analyst Coverage». American Journal of Industrial and Business Management 03/2015; DOI:10.4236/ ajibm.2015.53010, 5(3), pp. 90-101.

• Tebini, H., M’Zali, B.; Lang, P.; and Perez-Gladish, B., (2015) : «The Economic Impact of Environmentally Responsible Practices». Corporate Social Responsibility and Environmental Management; Published online in Wiley Online Library (wileyonlinelibrary.com) DOI: 10.1002/csr.1383.

• By, B.; Hmaittane, A.; Méndez-Rodríguez, P. and Mzali, B. (2015): «Les réseaux sociaux : un espoir pour une régulation efficace des acteurs économiques et financiers». Éthique publique [En ligne], vol. 16, n° 2 | 2014, mis en ligne le 12 mai 2015, URL : http://ethiquepublique.revues.org/1551 ; DOI : 10.4000/ethiquepublique.1551

• Tebini, H., M’Zali, B., Lang, P., Perez-Gladish, B. et Mendez-Rodriguez, P. (2015). « Social Performance and Financial Performance: A Controversial Relationship». Socially Responsible Investment International Series in Operations Research & Management Science. Volume 219, 53-73.

• M’Zali, B., Tebini, H. et Twarabimenye, P. (2016). « Être socialement et environnementalement responsable : Le défi managérial que l’entreprise marocaine doit relever ». Publié dans Les Défis du Management au Maghreb, Management prospective éditions. Sous la direction de A. Scouarnec.

• Liern, V. (2015): «On the construction, comparison and exchangeability of tuning systems». Journal of Mathematics and Music, 9 (3), pp. 197–213.

• Cadenas, J. M., Garrido, M. C., Martínez, R., Clavo, C., Ivorra, C., Liern, V. (2015): «GASRP-FP: A hybrid metaheuristic to solve fuzzy portfolio selection with non-financial goals». Advances in Intelligent Systems Research, 89, pp. 784-791.

• Pérez, F., Caballero, R., Carazo, A. F., Gómez, T., Liern, V. (2015): «A multiobjective fuzzy model for selecting and planning a project portfolio in a public organization». IJEME-94098 International Journal of Engineering Management and Economics, 5, pp. 48– 58.

• Calvo, C., Ivorra, C., Liern, V. (2015): «Finding Socially Responsible Portfolios Close to Conventional Ones». International Review of Financial Analysis 40, pp. 52-63.

• Parada, S. E.; Blasco, O.; Fiallo, J. E.; Liern V. (2015): «Una propuesta para analizar el seguimiento de la excelencia académica de los estudiantes universitarios». Anales de Economía Aplicada, 29, pp. 846 – 857.

• Liern, V.; Mendez Rodriguez, P.; Perez-Gladish, B. (2015): «A Soft Computing Approach For Ranking Firms Based On Different Corporate Social Responsibility Valuations». Applied Mathematics And Information Sciences, 9(13), 1113-1122. Q3 (Applied Mathematics) (Scopus, Scimago). SJR 2015 (0.314)

• Oliver, B.; Pérez Gladish, B.; Méndez, P. (2015): «Stock Salience and the Asymmetric Market Impact of Consumer Sentiment News On Spanish Firms». Review of Behavioral Finance, 7(2), 98 -115. Accepted in Scopus, Thomson Reuters Emerging Sources Citation Index (ESCI).

• García-Bernabeu, A.; Pla-Santamaria, D.; Bravo, M.; Pérez-Gladish, B. (2015): «La Protección Medioambiental Como Criterio». En La Selección De Inversiones Socialmente Responsables: Una Aproximación Multicriterio Economía Agraria Y Recursos Naturales, 15(1), 101-112. Q3 (Environment Sicences) (Scopus, Scimago). SJR 2015 (0.183).

• Méndez, P.; Pérez Gladish, B.; Cabello, J.M.; Ruiz, F. (2015): «Mutual Funds’ Socially Responsible Portfolio Selection With Fuzzy Data». In: Multiple Criteria Decision Making In Finance, Insurance And Investment, 229-247, Springer (ISBN 9783319211589).

• Ballestero, E.; García, A.; Pérez Gladish, B. (Editors) (2015): «The Ethical Financial Question and the MCDM Framework». In: Socially Responsible Investment: A Multicriteria Approach. Ed. Springer (ISBN: 978-3-319-11835-2).

• Ballestero, E.; García, A.; Pérez Gladish, B. (Editors) (2015): «Profiling Ethical Investors». In: Socially Responsible Investment: A Multicriteria Approach. Ed. Springer (ISBN: 978-3-319-11835-2).

• Ballestero, E.; García, A.; Pérez Gladish, B. (Editors) (2015): «Ethically Constrained Portfolio Selection of Funds by CP Modelling: A Real World Environmental Case». In: Socially Responsible Investment: A Multicriteria Approach. Ed. Springer (ISBN: 978-3-319-11835-2).

• Ballestero, E.; García, A.; Pérez Gladish, B. (Editors) (2015): «Evaluating Fund Performance from Financial and SRI Criteria». In: Socially Responsible Investment: A Multicriteria Approach. Ed. Springer (ISBN: 978-3-319-11835-2).

• Ballestero, E.; García, A.; Pérez Gladish, B. (Editors) (2015): «Portfolio Selection with SRI Synthetic Indicators: A Reference Point Method Approach». In: Socially Responsible Investment: A Multicriteria Approach. Ed. Springer (ISBN: 978-3-319-11835-2).

• Mousavi M. M., Ouenniche J. and Xu B (2015): «Performance Evaluation of Bankruptcy Prediction Models: An Orientation-Free Super-Efficiency DEA-based Framework». International Review of Financial Analysis, 42, 64-74.

• Danlu Bu, Shalchian H. and Chenyu Zhang (2015): «Steady compensation, overconfident executives and overinvestment: Evidence from Chinese corporations». International Research Journal of Applied Finance, 2015, 6 (7), 465-478. In collaboration with Danlu Bu.

PRIX ET DISTINCTIONS

• Ghilal, R. (2020): Prix d’excellence en enseignement, volet réalisation de l’université du Québec.

• Hervieux, C (2020) : Highly Commended paper (Toward a systems approach to social impact assessment), Emerald Literati Awards 2020.

• Bouslah, K., Liñares-Zegarra, J., M'Zali, B. & Scholtens, B. (2018): «CEO risk-taking incentives and socially irresponsible activities». British Accounting Review. 50, 76-92.

Award: has been awarded in 2018 the FSI-PRI prize for the best academic article on responsible investing. The prize is awarded jointly by the Finance Sustainability Initiative (FSI) and the Quebec Members' Network of Principles for Responsible Investment (PRI).

• Dupire, M., M’Zali, B., « CSR Strategies in Response to Competitive Pressures». Journal of Business Ethics, 2016, 1-21.

Paper selected in the Virtual Special Issue on Leadership: Philosophical Perspectives and Qualitative Analysis of Ethics: In this virtual issue we introduce a collection of seven papers previously published at the journal, and give thought to future development of scholarship at the intersection of leadership and ethics. We do this by looking back at key contributions published in this journal, then look forward to ways of thinking about leadership and ethics that might be better represented in the future.

• Marhfor, A., Bouslah K., M’Zali B. (2017). « Corporate social responsibility, price efficiency, and revelatory (real) efficiency» Actes du 16th International

Prix du meilleur article en 2017 à la Research Conference on Finance (FRAP conference). Université de Cambridge, Grande Bretagne.