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Le mode de gouvernement des entreprises japonaises: un modèle à suivre ?

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  • Mehdi Nekhili

    ()
    (Université de Bourgogne)

Abstract

Les entreprises japonaises appartiennent souvent à un Keiretsu et se caractérisent ainsi, par rapport à leurs homologues du reste du monde, par un mode de gouvernement assez particulier. Bien qu'elles soient cotées, elles sont généralement contrôlées par des banques principales qui sont à la fois actionnaires et créancières. Les implications de ce système sont nombreuses et se traduisent par des problèmes d'information asymétrique et de risque moral moins aigus entre les différentes parties prenantes, un taux de faillite plus faible des entreprises et des banques et par des décisions dont l'horizon est à plus long terme.

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Bibliographic Info

Paper provided by Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations in its series Working Papers CREGO with number 0981202.

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Length: 23 pages
Date of creation: Dec 1998
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Publication status: published in Finance Contrôle Stratégie, vol.1, n°4, décembre 1998, p.137-165.
Handle: RePEc:dij:wpfarg:0981202

Note: article publié dans Finance Contrôle Stratégie, vol.1, n°4, décembre 1998, p.137-165.
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Postal: Angèle Renaud, CREGO, 2 Bd Gabriel, BP 26611, 21066 Dijon Cedex, France
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Keywords: gouvernement d'entreprises; Keiretsu; banques principales.;

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  1. Kang, Jun-Koo & Stulz, Rene M, 1996. "How Different Is Japanese Corporate Finance? An Investigation of the Information Content of New Security Issues," Review of Financial Studies, Society for Financial Studies, vol. 9(1), pages 109-39.
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