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Gouvernance des entreprises:valeur partenariale contre valeur actionnariale

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Author Info
Gérard Charreaux ()
Philippe Desbrières () (Université de Bourgogne)

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Abstract

Unsatisfied with the dominating shareholders'view, that we find unfitted to build a relevant theory of corporate governance, we propose an enlarged definition of the value which may be called, the stakeholder value. This definition and the associated measure are supposed to be more fitted to the stakeholder view of the firm and more relevant to understand the value creation and sharing mechanisms.

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File URL: http://www.u-bourgogne.fr/LEG/WP/0970801.pdf
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Publisher Info
Paper provided by Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance) in its series Working Papers FARGO with number 0970801.

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Length: 32 pages
Date of creation: Aug 1997
Date of revision:
Publication status: published in Finance Contrôle Stratégie, vol.1, n°2, juin 1998,p.57-88.
Handle: RePEc:dij:wpfarg:0970801

Note: article publié dans Finance Contrôle Stratégie, vol.1, n°2, juin 1998,p.57-88.
Contact details of provider:
Postal: 2 Bd Gabriel, BP 26611, 21066 Dijon Cedex, France
Phone: +33(0)380395435
Fax: +33(0)380395488

Order Information:
Postal: Gérard Charreaux, Fargo-Latec, Université de Bourgogne 2 Bd Gabriel, BP 26611, 21066 Dijon Cedex, France

For technical questions regarding this item, or to correct its listing, contact: (Gérard Charreaux).

Related research
Keywords: shareholder value; stakeholder value; corporate governance; value creation; value sharing.;

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Find related papers by JEL classification:
G30 - Financial Economics - - Corporate Finance and Governance - - - General

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

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  4. Myers, Stewart C. & Majluf, Nicholas S., 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Journal of Financial Economics, Elsevier, vol. 13(2), pages 187-221, June. [Downloadable!] (restricted)
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    Other versions:
  9. Brian J. Hall & David E. Weinstein, 1996. "The Myth of the Patient Japanese: Corporate Myopia and Financial Distress in Japan and the U.S," Harvard Institute of Economic Research Working Papers 1770, Harvard - Institute of Economic Research.
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  10. Stephen Bond & Julie Elston & Jacques Mairesse & Benoit Mulkay, 1997. "Financial Factors and Investment in Belgium, France, Germany and the UK:A Comparison Using Company Panel Data," NBER Working Papers 5900, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  11. Andrei Shleifer & Robert W. Vishny, 1996. "A Survey of Corporate Governance," NBER Working Papers 5554, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  12. Kevin M.J. Kaiser, 1996. "European Bankruptcy Laws: Implications for Corporations Facing Financial Distress," Financial Management, Financial Management Association, vol. 25(3), Fall.
  13. Gérard Charreaux, 1996. "Vers une théorie du gouvernement des entreprises," Working Papers FARGO 0960501, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Mehdi Nekhili & Evelyne Poincelot, 2000. "La fonction R&D et la latitude managériale:une analyse théorique," Working Papers FARGO 1000303, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
    Other versions:
  2. Carine Catelin & Céline Chatelin, 2001. "Privatisation, gouvernement d'entreprise et processus décisionnel:une intégration de la dynamique organisationnelle à travers le cas de France Télécom," Working Papers FARGO 1010501, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  3. Michel Renault & Yvan Renou, 2007. "Processus d'individuation, éthique et pragmatisme. A la recherche de fondements théoriques pour appréhender la firme partenariale," Post-Print halshs-00202148_v1, HAL. [Downloadable!]
  4. Gérard Charreaux, 2002. "Au-delà de l'approche juridico-financière:le rôle cognitif des actionnaires et ses conséquences sur l'analyse de la structure de propriété et de la gouvernance," Working Papers FARGO 020701, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance), revised Jul 2002. [Downloadable!]
  5. Gérard Charreaux, 2001. "Quelle théorie pour la gouvernance?De la gouvernance actionnariale à la gouvernance cognitive..," Working Papers FARGO 010401, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance), revised Feb 2002. [Downloadable!]
  6. Céline Chatelin, 2003. "Stakeholder Governance and Organizational Performance: Lessons from past privatizations;Gouvernance partenariale et performance organisationnelle:les enseignements des privatisations passées," Working Papers FARGO 1030102, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  7. Samuel Mercier & Jean-Pascal Gond, 2005. "La théorie des parties prenantes," Working Papers FARGO 1050502, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  8. Gérard Charreaux, 1998. "Le rôle de la confiance dans le système de gouvernance des entreprises," Working Papers FARGO 0980501, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  9. Céline Chatelin & Stéphane Trebucq, 2002. "Du processus d'élaboration du cadre conceptuel en gouvernance d'entreprise A development process Of a conceptual framework of corporate governance," Working Papers FARGO 1021201, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  10. Marc-Hubert Depret & Abdelillah Hamdouch, 2004. "La gouvernance des jeunes entreprises innovantes:un éclairage analytique à partir du cas des sociétés de biotechnologies," Revue Finance Contrôle Stratégie, Editions Economica, vol. 7(2), pages 67-94, June. [Downloadable!]
  11. Pierre-Yves Gomez, 2003. "Jalons pour une histoire des théories du gouvernement des entreprises," Revue Finance Contrôle Stratégie, Editions Economica, vol. 6(4), pages 183-208, December. [Downloadable!]
  12. Rajaa Mtanios & Mathieu Paquerot, 1999. "Structure de propriété et sous-performance des firmes:une étude empirique sur le marché au comptant, le règlement mensuel et le second marché," Working Papers FARGO 0991202, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  13. Peter Wirtz, 2002. "Opportunism, Stewardship, and the Dynamics of Conflict in a Theory of Corporate Governance," Working Papers FARGO 1020101, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  14. Philippe Desbrières, 2000. "La rémunération des dirigeants sous forme d'actions et de stock-options," Working Papers FARGO 1001102, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  15. Anne Stévenot-Guéry & Loris Guéry, 2006. "L’influence des Capital Investisseurs sur la gestion des ressources humaines des entreprises financées:dimensions, enjeux et limites," Working Papers FARGO 1060502, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  16. Gérard Charreaux, 2007. "Autofinancement, information et connaissance," Working Papers FARGO 1070102, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  17. Gérard Charreaux, 2000. "L'approche économico-financière de l'investissement: une vision critique," Working Papers FARGO 1000501, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  18. Céline Chatelin, 2003. "Privatization and Stakeholder Governance:Theoretical and Methodological issues;Privatisation et gouvernance partenariale enjeux théoriques et méthodologiques," Working Papers FARGO 1030101, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  19. Gérard Charreaux, 2000. "Nouvelle économie et gouvernance," Working Papers FARGO 1000801, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  20. Céline Chatelin, 2003. "Privatization of Air France:A Test of The Stakeholder Corporate Governance Theory;La privatisation d'Air France : un test de la théorie de la gouvernance partenariale," Working Papers FARGO 1030103, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
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