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The paper studies sequences of penalty kicks during football shoutouts in French cup competitions. We seek to analyze in detail the psychological effects to which the kicker responds: fear of winning, fear of losing, expected outcomes or how much is at stake. The main conclusion of our study is that the performance (the probability of scoring) is impacted negatively by both what is at stake (the impact of my scoring on the expected probability that my team eventually wins) and by the difficulty of the situation (the ex ante probability of my team eventually losing). We find no advantage for a team to take the first kick. "You know what? The truth is, I've just taken the penalty kick." Eric (The King) Cantona, 1994

Dans cet article, nous étudions l’effet de l’ACCRE (aide aux chômeurs créant ou reprenant une entreprise) sur la survie d’entreprises nouvellement créées. Pour cela, nous apparions l’enquête SINE à des données d’entreprises, ce qui nous permet d’avoir les caractéristiques des créateurs d’entreprises et quelques informations financières sur l’entreprise. Nous suivons une cohorte d’entreprises créées au cours du premier semestre de l’année 1998 pendant huit ans. À l’aide d’une méthode d’appariement, nous montrons que (i) les entreprises qui ont bénéficié de l’ACCRE survivent plus que celles qui n’en ont pas bénéficié ; (ii) le résultat reste valide lorsque nous prenons en compte le capital et les sources de financement de départ (prêts bancaires, ressources personnelles, etc.).

This paper deals with the impact of social contributions and tax cuts (which are considered as operating subsidies) on new firms' probability of survival and economic performance. We use a rich matched database of French firms that were newly created in 1998 and that include entrepreneurs' individual characteristics and firm economic and financial variables. We implement propensity score matching models and show that (i) subsidized firms are more likely to survive after the first two years; (ii) bank loans increase the probability of survival, be they subsidized or not; and (iii) operating subsidies allow firms to increase their turnover. However, no significant effects of these subsidies on other performance criteria are found.

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