Efficacité des structures de contrôle et enracinement des dirigeants
AbstractIn the theoretical framework of corporate governance this article studies the efficiency of the control exerted by the ownership structure and the board of directors on managers. The confrontation of entrenchment theory and agency theory allows to determine the necessary conditions of the controller's efficiency. The ownership structure and the board of directors rarely unite all these conditions. Tests realized with the bootstrap method corroborate the entrenchment theory hypotheses and reject partially the arguments of agency theory.
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Bibliographic InfoPaper provided by Paris Dauphine University in its series Economics Papers from University Paris Dauphine with number 123456789/6186.
Date of creation: Jun 2000
Date of revision:
Publication status: Published in Finance contrôle stratégie, 2000, Vol. 3, no. 2. pp. 5-29.Length: 24 pages
gouvernement d'entreprise; théorie de l’agence; théorie de l'enracinement; structure de propriété; conseil d'administration.; corporate governance; agency theory; entrenchment theory; ownership structure; board of directors;
Find related papers by JEL classification:
- G30 - Financial Economics - - Corporate Finance and Governance - - - General
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- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
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