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Les conventions de financement des entreprises. Premières approches théorique et empirique

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  • Dorothée Rivaud-Danset
  • Robert Salais

Abstract

[fre] Les conventions de financement ont pour objet privilégié de traiter l'incertitude qui préside à la relation de financement d'une manière qui soit considérée comme efficace par les deux parties. La pluralité des conventions se déduit de travaux antérieurs sur la diversité des mondes de production des entreprises non financières et des comportements bancaires. Cette perspective met l'accent sur la flexibilité et donc sur la liquidité des entreprises. L'approche théorique recherche dans la littérature, d'une part, les principes qui fondent les motifs et les modalités d'accès à la liquidité, d'autre paît, les principes non-standards de coordination des comportements des offreurs et des demandeurs de capitaux. I.es travaux empiriques entendent montrer que ce cadre permet d'aborder autrement les domaines de la solvabilité et de la liquidité des entreprises. Deux expériences sont tentées, l'une sur vin échantillon d'entreprises en France, l'autre sur la comparaison entre plusieurs pays à travers la banque de comptes sectoriels harmonisés BACH de la C.E.E. [eng] This article has for its object of analysis the treatment of the uncertainty at the centre of financial relationships by finance conventions which are considered as both suitable and efficient by the parties to the transaction. The plurality of such conventions can be deduced from earlier works on the diversity of worlds of production in non-financial enterprises and on economic behaviour in the banking sector. This perpective emphasizes the flexibility and the liquidity of enterprises. This theoretical approach exploits an economic literature which deals with the principles underlying the motivation for and access to liquidity, on one hand, and non-standard principles of co-ordination in the credit and financial markets, on the other. As a consequence, empirical studies illustrate that this framework is convenient to treat from an unusual point of view the questions of firm solvability and liquidity. Two experiences are made, the first one deals with a sample of French firms, the second one with a comparison of agregated balance sheets of several countries from data of the E.E.C.

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File URL: http://dx.doi.org/10.3406/rfeco.1992.1321
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Bibliographic Info

Article provided by Programme National Persée in its journal Revue française d'économie.

Volume (Year): 7 (1992)
Issue (Month): 4 ()
Pages: 81-120

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Handle: RePEc:prs:rfreco:rfeco_0769-0479_1992_num_7_4_1321

Note: DOI:10.3406/rfeco.1992.1321
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Web page: http://www.persee.fr/web/revues/home/prescript/revue/rfeco

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Cited by:
  1. Gregory Heem, 2003. "Convention et contrôle interne bancaire," Post-Print hal-00423754, HAL.
  2. Michael Stolpe, 2003. "Learning and Signalling in the French and German Venture Capital Industries," Kiel Working Papers 1156, Kiel Institute for the World Economy.
  3. Bob Hancké, 2003. "Many roads to flexibility. How large firms built autarchic regional production systems in France," LSE Research Online Documents on Economics 513, London School of Economics and Political Science, LSE Library.
  4. Hancké, Bob, 1997. "Modernisation without flexible specialisation: how large firm restructuring and government regional policies became the step-parents of autarchic regional production systems in France," Discussion Papers, Research Unit: Economic Change and Employment FS I 97-304, Social Science Research Center Berlin (WZB).
  5. Robert Paturel & Stéphane Foliard & Mazen Gharsalli, 2010. "L'encastrement social des pratiques de gestion : le cas de la relation d'emprunt pour les PME," Post-Print halshs-00765074, HAL.
  6. NGUENA, Christian L., 2012. "Le Financement des PME au Cameroun dans un Contexte de Crise Financière
    [SMEs Financing issue in Cameroon in the context of Financial Crises]
    ," MPRA Paper 49417, University Library of Munich, Germany, revised 01 Sep 2013.
  7. Michael Stolpe, 2004. "Europe's Entry into the Venture Capital Business: Efficiency and Policy," Kiel Working Papers 1223, Kiel Institute for the World Economy.

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