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The law and economics of the modern firm: a new governance structure of power relationships

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  • Virgile Chassagnon

Abstract

This paper aims to analyze the impact of recent industrial changes on the governance structure of power relationships. To achieve this goal, three insights are discussed. First, the definition of what a firm is in both economic theory and in corporate law is clarified. Second, the four core features of the modern firm ? financialized industry, specific human capital, intangible assets and vertically networked activities ? are all presented and dissected. Third, the paper analyzes the ways in which institutional changes have influenced power relationships in both the internal and external governance of firms. In conclusion, some policy implications and research orientations are presented.

Suggested Citation

  • Virgile Chassagnon, 2011. "The law and economics of the modern firm: a new governance structure of power relationships," Revue d'économie industrielle, De Boeck Université, vol. 0(2), pages 25-50.
    • Handle: RePEc:cai:reidbu:rei_134_0025
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    Cited by:

    1. Samuel Klebaner, 2018. "Norm making and institutions dynamics: how the research program of the French Régulation Theory can be fertilized by the methodological concepts from the “Max-Planck-Institute for European Legal Histo," Cahiers du GREThA (2007-2019) 2018-25, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    2. Charis Michael Vlados & Fotios Katimertzopoulos & Ioannis Blatsos, 2018. "Innovation in Stra. Tech. Man (Strategy-Technology-Management) Terms," Journal of Entrepreneurship and Business Innovation, Macrothink Institute, Journal of Entrepreneurship and Business Innovation, vol. 5(2), pages 1-1, December.
    3. Filippi, Maryline & Chapdaniel, Alain, 2020. "Sustainable demand-supply chain: an innovative approach for improving sustainability in agrifood chains," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 24(2), March.
    4. Chassagnon, Virgile, 2014. "Consummate cooperation in the network-firm: Theoretical insights and empirical findings," European Management Journal, Elsevier, vol. 32(2), pages 260-274.
    5. Virgile Chassagnon, 2014. "Toward a Social Ontology of the Firm: Reconstitution, Organizing Entity, Institution, Social Emergence and Power," Journal of Business Ethics, Springer, vol. 124(2), pages 197-208, October.
    6. Bocquet, Rachel & Le Bas, Christian & Mothe, Caroline & Poussing, Nicolas, 2013. "Are firms with different CSR profiles equally innovative? Empirical analysis with survey data," European Management Journal, Elsevier, vol. 31(6), pages 642-654.
    7. Guillaume Assogba & Samuel Klebaner, 2015. "Toward an institutional framework to analyse the ‘filiere’ policy: Is the french ‘filiere’ policy coherent? [Vers un cadre d'analyse institutionnaliste de la politique de filière : Quelle cohérence," Working Papers hal-03986710, HAL.
    8. Klebaner, Samuel & Assogba, Guillaume, 2018. "Quelle cohérence pour la politique française de filières ? Les décalages entre la filière solidaire telle qu’elle devrait être et ce qu’elle est [What Coherence for the French “filières” Policy? Th," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 23.
    9. Chassagnon, Virgile, 2012. "Une analyse historique de la nature juridique de la firme," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 12.
    10. Chassagnon, Virgile, 2013. "Contrôle et manipulation au cœur de la firme-monde ?," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 14.
    11. Catherine Bodet & Thomas Lamarche, 2013. "La RSE contribue-t-elle au développement durable ?," Working Papers halshs-00912728, HAL.
    12. Virgile Chassagnon, 2012. "Pouvoir et coopération dans la firme et entre les firmes," Post-Print halshs-00818301, HAL.
    13. Chassagnon, Virgile & Dubrion, Benjamin, 2015. "Responsabilité sociale de l’entreprise et manipulation des salariés au travail : un éclairage institutionnaliste à partir d’une analyse de la littérature sur les codes de conduite," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 17.
    14. Guillaume ASSOGBA & Samuel KLEBANER, 2015. "Vers un cadre d’analyse institutionnaliste de la politique de filière : Quelle cohérence pour la politique de filière française ?," Cahiers du GREThA (2007-2019) 2015-26, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    15. repec:hal:journl:hal-00918528 is not listed on IDEAS
    16. Filippi, Maryline & Chapdaniel, Alain, 2020. "Sustainable demand-supply chain: an innovative approach for improving sustainability in agrifood chains," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 24(2), March.

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