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Corporate Governance in France and the UK: Long-Term Perspectives on Contemporary Institutional Arrangements

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  • Mairi Maclean

Abstract

The Cadbury Report on the financial aspects of corporate governance, published in the UK in 1992, was landmark in thinking on governance, leading to the publication in Francen in 1995 of the Vienot Report, which boldly urged the removal of the cross-shareholdings which have formed the bedrock of French capitalism for three decades. This article considers the impact of this new emphasis on corporate governance on patterns of governance in Britain and France, examining matters of ownership and control, board membership and business elites, business cultures and decision-making, and responsibilities to shareholders. It questions whether the new focus on corporate governance has brought closer together the ways in which businesses are managed in Britain and France, towards a European model, or whether indeed France is gradually embracing the Anglo-Saxon model, and finds that such convergence as has occurred since the Second World War shows as yet no sign of leading to uniformity. Finally, the article suggests that the contemporary corporate governance debate offers a framework through which the past may be revisited and, potentially, reassessed, business historians being well placed to shed light on the competing natures as well as the competing forms of corporate governance in the world today.

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  • Mairi Maclean, 1999. "Corporate Governance in France and the UK: Long-Term Perspectives on Contemporary Institutional Arrangements," Business History, Taylor & Francis Journals, vol. 41(1), pages 88-116.
    • Handle: RePEc:taf:bushst:v:41:y:1999:i:1:p:88-116
    DOI: 10.1080/00076799900000203
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    Cited by:

    1. David Carassus & Khaled Albouaini & Marie Caussimont, 2013. "Une analyse de l'Audit Expectation Gap dans le contexte français," Post-Print hal-02432110, HAL.
    2. Branston, J. Robert & Cowling, Keith & Sugden, Roger, 2002. "Corporate Governance And The Public Interest," The Warwick Economics Research Paper Series (TWERPS) 626, University of Warwick, Department of Economics.
    3. Malcolm Anderson, 2000. "Accounting History Publications 1999," Accounting History Review, Taylor & Francis Journals, vol. 10(3), pages 385-393.
    4. Harvey, Charles & Maclean, Mairi & Price, Michael, 2020. "Executive remuneration and the limits of disclosure as an instrument of corporate governance," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 69(C).
    5. Branston, J. Robert & Cowling, Keith & Sugden, Roger, 2001. "Corporate Governance and the Public Interest," Economic Research Papers 269400, University of Warwick - Department of Economics.
    6. Christopher Nobes & Alan Roberts, 2000. "Towards a Unifying Model of Systems of Law, Corporate Financing, Accounting and Corporate Governance," Australian Accounting Review, CPA Australia, vol. 10(20), pages 26-34, March.
    7. Sarah Federman, 2021. "Corporate Leadership and Mass Atrocity," Journal of Business Ethics, Springer, vol. 172(3), pages 407-423, September.

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